Table of Contents

FREE WRITING PROSPECTUS
FILED PURSUANT TO RULE 433
REGISTRATION STATEMENT NO.: 333-140804

The information in this free writing prospectus is not complete and may be amended prior to the time of sale. This free writing prospectus is not an offer to sell these securities and it is not a solicitation of an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

THIS FREE WRITING PROSPECTUS, DATED MAY 19, 2007, MAY BE AMENDED OR COMPLETED PRIOR TO TIME OF SALE
(this free writing prospectus accompanies the attached prospectus dated MARCH 9, 2007)

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the SEC (SEC File No. 333-140804) for this offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor or any underwriter or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling (866) 400-7834 or by emailing Avinash Bappanad at bappanad_avinash@jpmorgan.com.

$3,038,035,000 (Approximate)
J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC19
Issuing Entity
J.P. Morgan Chase Commercial Mortgage Securities Corp.
Depositor
JPMorgan Chase Bank, N.A.
CIBC Inc.
Sponsors and Mortgage Loan Sellers

Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC19

J.P. Morgan Chase Commercial Mortgage Securities Corp. is offering certain classes of the Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC19, which represent the beneficial ownership interests in the issuing entity, which will be a trust named J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC19. The assets of the issuing entity will primarily be 242 fixed rate mortgage loans secured by first liens on 315 commercial, multifamily and manufactured housing community properties and are generally the sole source of payments on the Series 2007-CIBC19 certificates. Credit enhancement will be provided by certain classes of subordinate certificates that will be subordinate to certain classes of senior certificates as described under ‘‘Description of the Certificates—Subordination; Allocation of Collateral Support Deficit’’ in this free writing prospectus. In addition, JPMorgan Chase Bank, N.A. will provide an interest rate swap agreement for the benefit of the Class A-MFL certificates and an interest rate swap agreement for the benefit of the Class A-JFL certificates as described under ‘‘Description of the Swap Contracts’’ in this free writing prospectus. The Series 2007-CIBC19 certificates are interests in the issuing entity only and are not interests in or obligations of J.P. Morgan Chase Commercial Mortgage Securities Corp., the sponsors, the mortgage loan sellers or any of their respective affiliates, and neither the Series 2007-CIBC19 certificates nor the underlying mortgage loans are insured or guaranteed by any governmental agency or any other person or entity. Each class of certificates will be entitled to receive monthly distributions of interest and/or principal on the 12th day of each month, commencing on July 12, 2007.

			Initial Class Certificate Balance or Notional Amount(1)						Initial Approx. Pass-Through Rate			Pass-Through Rate Description						Assumed Final Distribution Date(3)			Expected Ratings (Moody’s/S&P)(5)			Rated Final Distribution Date(3)
Class A-1(6)				$	52,995,000				%					(7	)			January 12, 2012			Aaa/AAA			February 12, 2049
Class A-2(6)				$	151,614,000				%					(7	)			June 12, 2012			Aaa/AAA			February 12, 2049
Class A-3(6)				$	180,000,000				%					(7	)			February 12, 2017			Aaa/AAA			February 12, 2049
Class A-4(6)				$	1,204,222,000				%					(7	)			April 12, 2017			Aaa/AAA			February 12, 2049
Class A-SB(6)				$	117,625,000				%					(7	)			October 12, 2016			Aaa/AAA			February 12, 2049
Class A-1A(6)				$	595,708,000				%					(7	)			May 12, 2017			Aaa/AAA			February 12, 2049
Class X-1				$	3,288,806,503	(8)			%			Variable(9)						March 12, 2017			Aaa/AAA			February 12, 2049
Class X-2				$	3,263,760,000	(10)			%					Variable(11	)			June 12, 2014			Aaa/AAA			February 12, 2049
Class A-M				$	278,881,000				%					(7	)			May 12, 2017			Aaa/AAA			February 12, 2049
Class A-MFL				$	50,000,000	(12)			LIBOR +         %			Floating(13)						May 12, 2017			Aaa/AAA(14)			February 12, 2049
Class A-J				$	213,104,000				%					(7	)			May 12, 2017			Aaa/AAA			February 12, 2049
Class A-JFL				$	50,000,000	(12)			LIBOR +         %			Floating(13)						May 12, 2017			Aaa/AAA(14)			February 12, 2049
Class B				$	61,665,000				%					(7	)			June 12, 2017			Aa2/AA			February 12, 2049
Class C				$	32,888,000				%					(7	)			June 12, 2017			Aa3/AA−			February 12, 2049
Class D				$	49,333,000				%					(7	)			June 12, 2017			A2/A			February 12, 2049

(Footnotes on table on page S-9)

You should carefully consider the risk factors beginning on page S-45 of this free writing prospectus and page 9 of the prospectus.

Neither the certificates nor the underlying mortgage loans are insured or guaranteed by any governmental agency or instrumentality or any other person or entity.

The certificates will represent interests in the issuing entity only. They will not represent interests in or obligations of the depositor, any of its affiliates or any other entity.

The Securities and Exchange Commission and state regulators have not approved or disapproved of the offered certificates or passed upon the adequacy or accuracy of this free writing prospectus or the accompanying prospectus. Any representation to the contrary is a criminal offense. J.P. Morgan Chase Commercial Mortgage Securities Corp. will not list the offered certificates on any securities exchange or on any automated quotation system of any securities association.

The underwriters, J.P. Morgan Securities Inc., CIBC World Markets Corp. and Bear, Stearns & Co. Inc., will purchase the offered certificates from J.P. Morgan Chase Commercial Mortgage Securities Corp. and will offer them to the public at negotiated prices, plus, in certain cases, accrued interest, determined at the time of sale. J.P. Morgan Securities Inc. and CIBC World Markets Corp. are acting as co-lead managers for this offering. Bear, Stearns & Co. Inc. is acting as co-manager for this offering. J.P. Morgan Securities Inc. is acting as sole bookrunner for this offering.

JPMorgan CIBC World Markets

                                                        Bear, Stearns & Co. Inc.

June    , 2007

TABLE OF CONTENTS

Summary of Certificates					S-9
Summary of Terms					S-11
Risk Factors					S-45
Geographic Concentration Entails Risks					S-45
Risks Relating to Mortgage Loan Concentrations					S-46
Risks Relating to Enforceability of Cross-Collateralization					S-48
The Borrower’s Form of Entity May Cause Special Risks					S-49
Ability to Incur Other Borrowings Entails Risk					S-50
Borrower May Be Unable to Repay Remaining Principal Balance on Maturity Date					S-54
The Prospective Performance of the Commercial, Multifamily and Manufactured Housing Community Mortgage Loans Included in the Trust Fund Should Be Evaluated Separately from the Performance of the Mortgage Loans in Any of Our Other Trusts					S-55
Commercial and Multifamily Lending Is Dependent Upon Net Operating Income					S-55
Tenant Concentration Entails Risk					S-57
Certain Additional Risks Relating to Tenants					S-57
Substitution of Mortgaged Properties May Lead to Increased Risks					S-59
Risks Related to Redevelopment and Renovation at the Mortgaged Properties					S-59
Mortgaged Properties Leased to Borrowers or Borrower Affiliated Entities Also Have Risks					S-60
Tenant Bankruptcy Entails Risks					S-60
Mortgage Loans Are Nonrecourse and Are Not Insured or Guaranteed					S-60
Retail Properties Have Special Risks					S-60
Office Properties Have Special Risks					S-62
Multifamily Properties Have Special Risks					S-63
Hotel Properties Have Special Risks					S-64
Risks Relating to Affiliation with a Franchise or Hotel Management Company					S-65
Industrial Properties Have Special Risks					S-66
Manufactured Housing Community Properties Have Special Risks					S-67
Self Storage Properties Have Special Risks					S-68
Risks Relating to Certain Assistance Programs					S-68
Lack of Skillful Property Management Entails Risks					S-69
Some Mortgaged Properties May Not Be Readily Convertible to Alternative Uses					S-69
Condominium Ownership May Limit Use and Improvements					S-70
Mortgage Loans Secured by Leasehold Interests May Expose Investors to Greater Risks of Default and Loss					S-70
Limitations of Appraisals					S-71
Risks Relating to Underwritten Net Cash Flow					S-72
Potential Conflicts of Interest					S-72
Special Servicer May Be Directed to Take Actions					S-74
Bankruptcy Proceedings Entail Certain Risks					S-75
Risks Relating to Prepayments and Repurchases					S-76
Optional Early Termination of the Trust Fund May Result in an Adverse Impact on Your Yield or May Result in a Loss					S-79
Sensitivity to LIBOR and Yield Considerations					S-79
Risks Relating to the Swap Contracts					S-79
Mortgage Loan Sellers May Not Be Able to Make a Required Repurchase or Substitution of a Defective Mortgage Loan					S-80
Risks Relating to Interest on Advances and Special Servicing Compensation					S-80
Risks of Limited Liquidity and Market Value					S-81
Different Timing of Mortgage Loan Amortization Poses Certain Risks					S-81
Subordination of Subordinate Offered Certificates					S-81
Limited Information Causes Uncertainty					S-81
Environmental Risks Relating to the Mortgaged Properties					S-82

S-3

Tax Considerations Relating to Foreclosure					S-83
Risks Associated with One Action Rules					S-83
Potential Absence of Attornment Provisions Entails Risks					S-83
Property Insurance May Not Be Sufficient					S-84
Zoning Compliance and Use Restrictions May Adversely Affect Property Value					S-86
Risks Relating to Costs of Compliance with Applicable Laws and Regulations					S-87
No Reunderwriting of the Mortgage Loans					S-87
Litigation or Other Legal Proceedings Could Adversely Affect the Mortgage Loans					S-87
Risks Relating to Book-Entry Registration					S-88
Risks Relating to Inspections of Properties					S-88
Certain of the Mortgage Loans Lack Customary Provisions					S-88
Mortgage Electronic Registration Systems (MERS)					S-88
Other Risks					S-88
Description of the Mortgage Pool					S-90
General					S-90
Additional Debt					S-91
The 599 Lexington Avenue Whole Loan					S-95
The AmeriCold Portfolio Whole Loan					S-97
AB Mortgage Loan Pairs					S-100
Mezz Cap AB Mortgage Loans					S-101
Top Fifteen Mortgage Loans					S-104
Certain Terms and Conditions of the Mortgage Loans					S-104
Additional Mortgage Loan Information					S-114
Sale of Mortgage Loans: Mortgage File Delivery					S-117
Representations and Warranties; Repurchases and Substitutions					S-118
Repurchase or Substitution of Cross-Collateralized Mortgage Loans					S-123
Lockbox Accounts					S-123
Transaction Parties					S-125
The Sponsors					S-125
The Depositor					S-127
The Mortgage Loan Sellers					S-127
The Issuing Entity					S-129
The Trustee, Paying Agent, Certificate Registrar and Authenticating Agent					S-130
The Master Servicers					S-132
The Special Servicer					S-134
Replacement of the Special Servicer					S-136
Servicing and Other Compensation and Payment of Expenses					S-137
Description of the Certificates					S-142
General					S-142
Book-Entry Registration and Definitive Certificates					S-144
Distributions					S-146
Allocation of Yield Maintenance Charges and Prepayment Premiums					S-165
Assumed Final Distribution Date; Rated Final Distribution Date					S-168
Subordination; Allocation of Collateral Support Deficit					S-168
Advances					S-172
Appraisal Reductions					S-176
Reports to Certificateholders; Certain Available Information					S-178
Voting Rights					S-183
Termination; Retirement of Certificates					S-184
Description of the Swap Contracts					S-186
The A-MFL Swap Contract					S-186
The A-JFL Swap Contract					S-187
The Swap Counterparty					S-189
Servicing of the Mortgage Loans					S-190
General					S-190
The Directing Certificateholder					S-194
Limitation on Liability of Directing Certificateholder					S-196
Maintenance of Insurance					S-197
Modifications, Waiver and Amendments					S-200
Realization Upon Defaulted Mortgage Loans					S-201
Inspections; Collection of Operating Information					S-204
Certain Matters Regarding the Master Servicers, the Special Servicer and the Depositor					S-205
Events of Default					S-207
Rights Upon Event of Default					S-208
Amendment					S-208
Yield and Maturity Considerations					S-211
Yield Considerations					S-211
Weighted Average Life					S-214
Yield Sensitivity of the Class X-1 and Class X-2 Certificates					S-223
Effect of Loan Groups					S-224

S-4

Certain Federal Income Tax Consequences					S-226
Taxation of the Swap Contracts					S-228
Certain ERISA Considerations					S-229
Legal Matters					S-232
Certain Legal Aspects of the Mortgage Loans					S-232
Ratings					S-233
Legal Investment					S-234
Index of Defined Terms					S-236

SCHEDULE I					CLASS X REFERENCE RATES
SCHEDULE II					CLASS X-2 COMPONENT NOTIONAL  AMOUNTS
SCHEDULE III					CLASS A-SB PLANNED PRINCIPAL BALANCE SCHEDULE
ANNEX A-1					CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-2					CERTAIN POOL CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-3					DESCRIPTION OF TOP FIFTEEN MORTGAGE LOANS
ANNEX B					CERTAIN CHARACTERISTICS OF THE MULTIFAMILY & MANUFACTURED HOUSING COMMUNITY LOANS
ANNEX C					FORM OF REPORT TO CERTIFICATEHOLDERS

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IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

The offered certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of offered certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a ‘‘when, as and if issued’’ basis. You understand that, when you are considering the purchase of the offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of offered certificates to be made to you; any ‘‘indications of interest’’ expressed by you, and any ‘‘soft circles’’ generated by us, will not create binding contractual obligations for you or us.

As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any underwriter will have any obligation to you to deliver any portion of the offered certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery.

You have requested that the underwriters provide to you information in connection with your consideration of the purchase of certain offered certificates described in this free writing prospectus. This free writing prospectus is being provided to you for informative purposes only in response to your specific request. The underwriters described in this free writing prospectus may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this free writing prospectus. The underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this free writing prospectus.

The information in this free writing prospectus supersedes any previous information delivered to you and may be superseded by information delivered to you prior to the time of sale.

This free writing prospectus does not contain all information that is required to be included in the base prospectus and the prospectus supplement.

IMPORTANT NOTICE ABOUT INFORMATION PRESENTED IN THIS
FREE WRITING PROSPECTUS AND THE ACCOMPANYING PROSPECTUS

Information about the offered certificates is contained in two separate documents that progressively provide more detail: (a) the accompanying prospectus, which provides general information, some of which may not apply to the offered certificates; and (b) this free writing prospectus, which describes the specific terms of the offered certificates.

You should rely only on the information contained in this free writing prospectus and the prospectus. We have not authorized anyone to provide you with information that is different from that contained in this free writing prospectus and the prospectus. The information contained in this free writing prospectus is accurate only as of the date of this free writing prospectus.

This free writing prospectus begins with several introductory sections describing the Series 2007-CIBC19 certificates and the trust in abbreviated form:

Summary of Certificates, commencing on page S-9 of this free writing prospectus, which sets forth important statistical information relating to the Series 2007-CIBC19 certificates;

Summary of Terms, commencing on page S-11 of this free writing prospectus, which gives a brief introduction of the key features of the Series 2007-CIBC19 certificates and a description of the underlying mortgage loans; and

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Risk Factors, commencing on page S-45 of this free writing prospectus, which describe risks that apply to the Series 2007-CIBC19 certificates which are in addition to those described in the prospectus with respect to the securities issued by the trust generally.

This free writing prospectus and the accompanying prospectus include cross references to sections in these materials where you can find further related discussions. The Tables of Contents in this free writing prospectus and the prospectus identify the pages where these sections are located.

Certain capitalized terms are defined and used in this free writing prospectus and the prospectus to assist you in understanding the terms of the offered certificates and this offering. The capitalized terms used in this free writing prospectus are defined on the pages indicated under the caption ‘‘Index of Defined Terms’’ commencing on page S-236 of this free writing prospectus. The capitalized terms used in the prospectus are defined on the pages indicated under the caption ‘‘Index of Defined Terms’’ commencing on page 129 of the prospectus.

All annexes and schedules attached to this free writing prospectus are a part of this free writing prospectus.

In this free writing prospectus, the terms ‘‘Depositor,’’ ‘‘we,’’ ‘‘us’’ and ‘‘our’’ refer to J.P. Morgan Chase Commercial Mortgage Securities Corp.

EUROPEAN ECONOMIC AREA

IN RELATION TO EACH MEMBER STATE OF THE EUROPEAN ECONOMIC AREA WHICH HAS IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A ‘‘RELEVANT MEMBER STATE’’), EACH UNDERWRITER HAS REPRESENTED AND AGREED THAT WITH EFFECT FROM AND INCLUDING THE DATE ON WHICH THE PROSPECTUS DIRECTIVE IS IMPLEMENTED IN THAT RELEVANT MEMBER STATE (THE ‘‘RELEVANT IMPLEMENTATION DATE’’) IT HAS NOT MADE AND WILL NOT MAKE AN OFFER OF CERTIFICATES TO THE PUBLIC IN THAT RELEVANT MEMBER STATE PRIOR TO THE PUBLICATION OF A PROSPECTUS IN RELATION TO THE CERTIFICATES WHICH HAS BEEN APPROVED BY THE COMPETENT AUTHORITY IN THAT RELEVANT MEMBER STATE OR, WHERE APPROPRIATE, APPROVED IN ANOTHER RELEVANT MEMBER STATE AND NOTIFIED TO THE COMPETENT AUTHORITY IN THAT RELEVANT MEMBER STATE, ALL IN ACCORDANCE WITH THE PROSPECTUS DIRECTIVE, EXCEPT THAT IT MAY, WITH EFFECT FROM AND INCLUDING THE RELEVANT IMPLEMENTATION DATE, MAKE AN OFFER OF CERTIFICATES TO THE PUBLIC IN THAT RELEVANT MEMBER STATE AT ANY TIME:

(A)    TO LEGAL ENTITIES WHICH ARE AUTHORISED OR REGULATED TO OPERATE IN THE FINANCIAL MARKETS OR, IF NOT SO AUTHORISED OR REGULATED, WHOSE CORPORATE PURPOSE IS SOLELY TO INVEST IN SECURITIES;

(B)    TO ANY LEGAL ENTITY WHICH HAS TWO OR MORE OF (1) AN AVERAGE OF AT LEAST 250 EMPLOYEES DURING THE LAST FINANCIAL YEAR; (2) A TOTAL BALANCE SHEET OF MORE THAN €43,000,000; AND (3) AN ANNUAL NET TURNOVER OF MORE THAN €50,000,000, AS SHOWN IN ITS LAST ANNUAL OR CONSOLIDATED ACCOUNTS; OR

(C)    IN ANY OTHER CIRCUMSTANCES WHICH DO NOT REQUIRE THE PUBLICATION BY THE ISSUER OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE.

FOR THE PURPOSES OF THIS PROVISION, THE EXPRESSION AN ‘‘OFFER OF CERTIFICATES TO THE PUBLIC’’ IN RELATION TO ANY CERTIFICATES IN ANY RELEVANT MEMBER STATE MEANS THE COMMUNICATION IN ANY FORM AND BY ANY MEANS OF SUFFICIENT INFORMATION ON THE TERMS OF THE OFFER AND THE CERTIFICATES TO BE OFFERED SO AS TO ENABLE AN INVESTOR TO DECIDE TO PURCHASE OR SUBSCRIBE THE CERTIFICATES, AS THE SAME MAY BE VARIED IN THAT MEMBER STATE BY ANY MEASURE IMPLEMENTING THE PROSPECTUS DIRECTIVE IN THAT MEMBER STATE AND THE EXPRESSION ‘‘PROSPECTUS DIRECTIVE’’ MEANS DIRECTIVE 2003/71/EC AND INCLUDES ANY RELEVANT IMPLEMENTING MEASURE IN EACH RELEVANT MEMBER STATE.

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UNITED KINGDOM

EACH UNDERWRITER HAS REPRESENTED AND AGREED THAT:

(A)(i)    IT IS A PERSON WHOSE ORDINARY ACTIVITIES INVOLVE IT IN ACQUIRING, HOLDING, MANAGING, OR DISPOSING OF INVESTMENTS (AS PRINCIPAL OR AGENT) FOR THE PURPOSES OF ITS BUSINESS AND (ii) IT HAS NOT OFFERED OR SOLD AND WILL NOT OFFER OR SELL THE CERTIFICATES OTHER THAN TO PERSONS WHOSE ORDINARY ACTIVITIES INVOLVE THEM IN ACQUIRING, HOLDING, MANAGING OR DISPOSING OF INVESTMENTS (AS PRINCIPAL OR AGENT) FOR THE PURPOSES OF THEIR BUSINESSES OR WHO IT IS REASONABLE TO EXPECT WILL ACQUIRE, HOLD, MANAGE OR DISPOSE OF INVESTMENTS (AS PRINCIPAL OR AGENT) FOR THE PURPOSES OF THEIR BUSINESSES WHERE THE ISSUE OF THE CERTIFICATES WOULD OTHERWISE CONSTITUTE A CONTRAVENTION OF SECTION 19 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (‘‘FSMA’’);

(B)    IT HAS ONLY COMMUNICATED OR CAUSED TO BE COMMUNICATED AND WILL ONLY COMMUNICATE OR CAUSE TO BE COMMUNICATED AN INVITATION OR INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY (WITHIN THE MEANING OF SECTION 21 OF THE FSMA) RECEIVED BY IT IN CONNECTION WITH THE ISSUE OR SALE OF THE CERTIFICATES IN CIRCUMSTANCES IN WHICH SECTION 21(1) OF THE FSMA DOES NOT APPLY TO THE DEPOSITOR; AND

(C)    IT HAS COMPLIED AND WILL COMPLY WITH ALL APPLICABLE PROVISIONS OF THE FSMA WITH RESPECT TO ANYTHING DONE BY IT IN RELATION TO THE CERTIFICATES IN, FROM OR OTHERWISE INVOLVING THE UNITED KINGDOM.

NOTICE TO UNITED KINGDOM INVESTORS

THE DISTRIBUTION OF THIS FREE WRITING PROSPECTUS IF MADE BY A PERSON WHO IS NOT AN AUTHORISED PERSON UNDER THE FSMA, IS BEING MADE ONLY TO, OR DIRECTED ONLY AT, PERSONS WHO (1) ARE OUTSIDE THE UNITED KINGDOM, OR (2) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS, OR (3) ARE PERSONS FALLING WITHIN ARTICLES 49(2)(A) THROUGH (D) (‘‘HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC.’’) OR 19 (INVESTMENT PROFESSIONALS) OF THE FSMA (FINANCIAL PROMOTION) ORDER 2005 (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS THE ‘‘RELEVANT PERSONS’’). THIS FREE WRITING PROSPECTUS MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS FREE WRITING PROSPECTUS RELATES, INCLUDING THE OFFERED CERTIFICATES, IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

POTENTIAL INVESTORS IN THE UNITED KINGDOM ARE ADVISED THAT ALL, OR MOST, OF THE PROTECTIONS AFFORDED BY THE UNITED KINGDOM REGULATORY SYSTEM WILL NOT APPLY TO AN INVESTMENT IN THE OFFERED CERTIFICATES AND THAT COMPENSATION WILL NOT BE AVAILABLE UNDER THE UNITED KINGDOM FINANCIAL SERVICES COMPENSATION SCHEME.

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Summary of Certificates

Class			Initial Class Certificate Balance or Notional Amount(1)						Approx. Initial Credit Support(2)						Pass- Through Rate Description						Assumed Final Distribution Date(3)			Initial Approx. Pass- Through Rate						Weighted Average Life (Yrs.)(4)			Expected Ratings (Moody’s/ S&P)(5)			Principal Window(4)
Offered Certificates
A-1(6)				$	52,995,000						30.000	%					(7	)			January 12, 2012						%			2.68			Aaa/AAA					7/07-1/12
A-2(6)				$	151,614,000						30.000	%					(7	)			June 12, 2012						%			4.92			Aaa/AAA					2/12-6/12
A-3(6)				$	180,000,000						30.000	%					(7	)			February 12, 2017						%			8.39			Aaa/AAA					4/14-2/17
A-4(6)				$	1,204,222,000						30.000	%					(7	)			April 12, 2017						%			9.79			Aaa/AAA					2/17-4/17
A-SB(6)				$	117,625,000						30.000	%					(7	)			October 12, 2016						%			7.14			Aaa/AAA					1/12-10/16
A-1A(6)				$	595,708,000						30.000	%					(7	)			May 12, 2017						%			9.53			Aaa/AAA					7/07-5/17
X-1				$	3,288,806,503	(8)					N/A				Variable(9)						March 12, 2017						%			N/A			Aaa/AAA			N/A
X-2				$	3,263,760,000	(10)					N/A				Variable(11)						June 12, 2014						%			N/A			Aaa/AAA			N/A
A-M				$	278,881,000						20.000	%					(7	)			May 12, 2017						%			9.91			Aaa/AAA			5/17-5/17
A-MFL				$	50,000,000	(12)					20.000	%			Floating(13)						May 12, 2017			LIBOR +         %						9.91			Aaa/AAA(14)			5/17-5/17
A-J				$	213,104,000						12.000	%					(7	)			May 12, 2017						%			9.91			Aaa/AAA			5/17-5/17
A-JFL				$	50,000,000	(12)					12.000	%			Floating(13)						May 12, 2017			LIBOR +         %						9.91			Aaa/AAA(14)			5/17-5/17
B				$	61,665,000						10.125	%					(7	)			June 12, 2017						%			9.99			Aa2/AA			5/17-6/17
C				$	32,888,000						9.125	%					(7	)			June 12, 2017						%			9.99			Aa3/AA−			6/17-6/17
D				$	49,333,000						7.625	%					(7	)			June 12, 2017						%			9.99			A2/A			6/17-6/17
Non-Offered Certificates
E				$	36,999,000						6.500	%					(7	)			N/A						%			N/A			A3/A−			N/A
F				$	41,110,000						5.250	%					(7	)			N/A						%			N/A			Baa1/BBB+			N/A
G				$	32,888,000						4.250	%					(7	)			N/A						%			N/A			Baa2/BBB			N/A
H				$	41,110,000						3.000	%					(7	)			N/A						%			N/A			Baa3/BBB−			N/A
J				$	8,222,000						2.750	%					(7	)			N/A						%			N/A			Ba1/BB+			N/A
K				$	8,222,000						2.500	%					(7	)			N/A						%			N/A			Ba2/BB			N/A
L				$	16,444,000						2.000	%					(7	)			N/A						%			N/A			Ba3/BB−			N/A
M				$	8,222,000						1.750	%					(7	)			N/A						%			N/A			B1/B+			N/A
N				$	4,111,000						1.625	%					(7	)			N/A						%			N/A			B2/B			N/A
P				$	12,333,000						1.250	%					(7	)			N/A						%			N/A			B3/B−			N/A
NR				$	41,110,503						N/A						(7	)			N/A						%			N/A			NR/NR			N/A

(1) Approximate, subject to a permitted variance of plus or minus 5%.

(2) The credit support percentages set forth for the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates are represented in the aggregate. The credit support percentages set forth for the Class A-M and Class A-MFL certificates are represented in the aggregate. The credit support percentages set forth for the Class A-J and Class A-JFL certificates are represented in the aggregate.

(3) The assumed final distribution dates set forth in this free writing prospectus have been determined on the basis of the assumptions described in ‘‘Description of the Certificates—Assumed Final Distribution Date; Rated Final Distribution Date’’ in this free writing prospectus. The rated final distribution date for each class of certificates is February 12, 2049. See ‘‘Description of the Certificates—Assumed Final Distribution Date; Rated Final Distribution Date’’ in this free writing prospectus.

(4) The weighted average life and period during which distributions of principal would be received as set forth in the foregoing table with respect to each class of certificates are based on the assumptions set forth under ‘‘Yield and Maturity Considerations—Weighted Average Life’’ in this free writing prospectus and on the assumptions that there are no prepayments or losses on the mortgage loans and that there are no extensions of maturity dates of the mortgage loans.

(5) Ratings shown are those of Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.

(6) For purposes of making distributions on the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates, the pool of mortgage loans will be deemed to consist of two distinct loan groups, loan group 1 and loan group 2. As of the cut-off date, loan group 1 will consist of 183 mortgage loans, representing approximately 81.9% of the aggregate principal balance of the pool of mortgage loans. As of the cut-off date, loan group 2 will consist of 59 mortgage loans, representing approximately 18.1% of the aggregate principal balance of the pool of mortgage loans. As of the cut-off date, loan group 2 will include approximately 100.0% of all the mortgage loans secured by multifamily and manufactured housing community properties.

So long as funds are sufficient on any distribution date to make distributions of all interest and principal on such

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distribution date to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class X-1 and Class X-2 certificates, interest and principal distributions on the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB certificates will be based upon amounts available relating to mortgage loans in loan group 1 and interest and principal distributions on the Class A-1A certificates will be based upon amounts available relating to mortgage loans in loan group 2. In addition, generally the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB certificates will be entitled to receive distributions of principal collected or advanced in respect of mortgage loans in loan group 2 after the certificate principal balance of the Class A-1A certificates has been reduced to zero, and the Class A-1A certificates will be entitled to receive distributions of principal collected or advanced in respect of mortgage loans in loan group 1 after the certificate principal balances of the Class A-4 and Class A-SB certificates have been reduced to zero. However, on and after any distribution date on which the certificate balances of the Class A-M through Class NR certificates and the Class A-MFL and Class A-JFL regular interests have been reduced to zero, distributions of principal collected or advanced in respect of the pool of mortgage loans will be distributed to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates, pro rata.

(7) The pass-through rates applicable to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR certificates on each distribution date will be a per annum rate equal to one of (i) a fixed rate, (ii) the weighted average of the net mortgage rates on the mortgage loans (in each case adjusted, if necessary, to accrue on the basis of a 360-day year consisting of twelve 30-day months), (iii) a rate equal to the lesser of (x) a specified fixed pass-through rate and (y) the rate described in clause (ii) above, or (iv) the rate described in clause (ii) above less a specified percentage.

(8) The Class X-1 notional amount will be equal to the aggregate of the certificate balances of each class of certificates (other than the Class A-MFL, Class A-JFL, Class X-1, Class X-2, Class R and Class LR certificates) and the Class A-MFL and Class A-JFL regular interests.

(9) The pass-through rate on the Class X-1 certificates will be based on the weighted average of the interest strip rates of the components of the Class X-1 certificates. See ‘‘Description of the Certificates—Distributions’’ in this free writing prospectus.

(10) The Class X-2 notional amount will be equal to the aggregate of the certificate balances (or portions thereof) of certain of the other classes of certificates.

(11) The pass-through rate on the Class X-2 certificates will be based on the weighted average of the interest strip rates of the components of the Class X-2 certificates. See ‘‘Description of the Certificates—Distributions’’ in this free writing prospectus.

(12) The certificate balance of the Class A-MFL certificates will be equal to the certificate balance of the Class A-MFL regular interest. The certificate balance of the Class A-JFL certificates will be equal to the certificate balance of the Class A-JFL regular interest.

(13) The pass-through rate applicable to the Class A-MFL certificates on each distribution date will be a per annum rate equal to LIBOR plus         %. In addition, under certain circumstances described in this free writing prospectus, the pass-through rate applicable to the Class A-MFL certificates may convert to a fixed rate equal to         % per annum. The pass-through rate applicable to the Class A-JFL certificates on each distribution date will be a per annum rate equal to LIBOR plus         %. In addition, under certain circumstances described in this free writing prospectus, the pass-through rate applicable to the Class A-JFL certificates may convert to a fixed rate equal to         % per annum. The initial LIBOR rate will be determined on June 12, 2007 and subsequent LIBOR rates will be determined 2 LIBOR business days before the start of the related interest accrual period.

(14) The ratings assigned to the Class A-MFL certificates only reflect the receipt of a fixed rate of interest at a rate equal to         % per annum. The ratings assigned to the Class A-JFL certificates only reflect the receipt of a fixed rate of interest at a rate equal to         % per annum. See ‘‘Ratings’’ in this free writing prospectus.

The Class R and Class LR certificates are not offered by this free writing prospectus and are not represented in this table.

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Summary of Terms

This summary highlights selected information from this free writing prospectus. It does not contain all of the information you need to consider in making your investment decision. To understand all of the terms of the offering of the offered certificates, read this entire document and the accompanying prospectus carefully.

Relevant Parties and Dates

Depositor		J.P. Morgan Chase Commercial Mortgage Securities Corp., a Delaware corporation, a wholly-owned subsidiary of JPMorgan Chase Bank, National Association, a national banking association organized under the laws of the United States, which is a wholly-owned subsidiary of JPMorgan Chase & Co., a Delaware corporation. The depositor’s address is 270 Park Avenue, New York, New York 10017, and its telephone number is (212) 834-9271. See ‘‘Transaction Parties—The Depositor’’ in this free writing prospectus.

Issuing Entity		J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC19, a New York common law trust, to be established on the closing date under the pooling and servicing agreement. For more detailed information, see ‘‘Transaction Parties—The Issuing Entity’’ in this free writing prospectus.

Mortgage Loan Sellers		JPMorgan Chase Bank, N.A., a national banking association organized under the laws of the United States, and CIBC Inc., a Delaware corporation. JP Morgan Chase Bank, N.A. is also an affiliate of each of the depositor and J.P. Morgan Securities Inc., one of the underwriters. CIBC Inc. is an affiliate of CIBC World Markets Corp., one of the underwriters. See ‘‘Transaction Parties—The Mortgage Loan Sellers’’ in this free writing prospectus.

		Sellers of the Mortgage Loans

Seller			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
JPMorgan Chase Bank, N.A.					126					$	1,824,291,702						55.5	%					53.0	%					66.7	%
CIBC Inc.					116						1,464,514,801						44.5						47.0						33.3
Total					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

Master Servicers		Capmark Finance Inc., a California corporation, will act as master servicer with respect to 126 of the mortgage loans, representing approximately 55.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (84 mortgage loans in loan group 1, representing approximately 53.0% of the

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		aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date, and 42 mortgage loans in loan group 2, representing approximately 66.7% of the aggregate principal balance of the mortgage loans in loan group 2). The principal commercial mortgage servicing offices of the Capmark Finance Inc. are located at 116 Welsh Road, Horsham, Pennsylvania 19044, and its telephone number is (215) 328-1258. See ‘‘Transaction Parties—The Master Servicers—Capmark Finance Inc.’’ in this free writing prospectus.

		Wells Fargo Bank, N.A., a national banking association, will act as master servicer with respect to 116 of the mortgage loans, representing approximately 44.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (99 mortgage loans in loan group 1, representing approximately 47.0% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date, and 17 mortgage loans in loan group 2, representing approximately 33.3% of the aggregate principal balance of the mortgage loans in loan group 2). The principal commercial mortgage servicing offices of Wells Fargo Bank, N.A. are located at 45 Fremont Street, 2nd Floor, San Francisco, California 94105. See ‘‘Transaction Parties—The Master Servicers—Wells Fargo Bank, N.A.’’ in this free writing prospectus.

		The master servicers will be responsible for the master servicing and administration of the mortgage loans pursuant to the pooling and servicing agreement and will be primarily responsible for collecting payments and gathering information with respect to the mortgage loans in the trust fund and the companion loans that are not part of the trust fund.

		The 599 Lexington Avenue loan will be serviced under the pooling and servicing agreement entered into in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP10. The master servicer of the 599 Lexington Avenue whole loan under the 2007-LDP10 pooling and servicing agreement is Midland Loan Services, Inc., a Delaware corporation. The servicing offices of Midland Loan Services, Inc. are located at 10851 Mastin Street, Suite 700, Overland Park, Kansas 66210 and its telephone number is (913) 253-9000.

		The AmeriCold Portfolio loan will be serviced under the pooling and servicing agreement entered into in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18,

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		Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC18. The primary servicer of the AmeriCold Portfolio whole loan under the 2007-CIBC18 pooling and servicing agreement is Midland Loan Services, Inc.

Special Servicer		LNR Partners, Inc., a Florida corporation, will act as special servicer with respect to the mortgage loans and will be primarily responsible for making decisions and performing certain servicing functions with respect to the mortgage loans that, in general, are in default or as to which default is imminent. The primary servicing office of LNR Partners, Inc. is located at 1601 Washington Avenue, Suite 700, Miami Beach, Florida 33139, and its telephone number is (305) 695-5600. See ‘‘Transaction Parties—The Special Servicer’’ in this free writing prospectus.

		The 599 Lexington Avenue loan will be specially serviced under the 2007-LDP10 pooling and servicing agreement. The special servicer of the 599 Lexington Avenue whole loan under the 2007-LDP10 pooling and servicing agreement is J.E. Robert Company, Inc., a Virginia corporation. The primary servicing offices of J.E. Robert Company, Inc. are located at 1650 Tysons Boulevard, Suite 1600, McLean, Virginia, and its telephone number is (703) 714-8000.

		The AmeriCold Portfolio whole loan will be specially serviced under the 2007-CIBC18 pooling and servicing agreement. The special servicer of the AmeriCold Portfolio whole loan under the 2007-CIBC18 pooling and servicing agreement is LNR Partners, Inc.

Trustee and Paying Agent		LaSalle Bank National Association, a national banking association, with its corporate trust office located at 135 South LaSalle Street, Suite 1625, Chicago, Illinois 60603, Attention: Global Securities and Trust Services, JP Morgan 2007-CIBC19 and its telephone number is (312) 904-6342. See ‘‘Transaction Parties—The Trustee, Paying Agent, Certificate Registrar and Authenticating Agent’’ in this free writing prospectus. Following the transfer of the mortgage loans into the trust, the trustee, on behalf of the trust, will become the mortgagee of record under each mortgage loan, except for the 599 Lexington Avenue loan and the AmeriCold Portfolio loan for which Wells Fargo Bank, N.A., as trustee, is the mortgagee of record under each of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10 and the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18, respectively.

Sponsors		JPMorgan Chase Bank, N.A., a national banking association, and CIBC Inc., a Delaware corporation. For

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		more information, see ‘‘Transaction Parties—The Sponsors’’ in this free writing prospectus and ‘‘The Sponsor’’ in the prospectus.

Certain Affiliations		JPMorgan Chase Bank, N.A. and its affiliates have several roles in this transaction. J.P. Morgan Chase Commercial Mortgage Securities Corp. is the depositor and a wholly-owned subsidiary of JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. and CIBC Inc. originated or acquired the mortgage loans and will be selling them to the depositor. JPMorgan Chase Bank, N.A. is also the swap counterparty and an affiliate of J.P. Morgan Securities Inc., an underwriter for the offering of the certificates. JPMorgan Chase Bank, N.A. is also a sponsor. CIBC Inc. is an affiliate of CIBC World Markets Corp., an underwriter for the offering of the certificates. These roles and other potential relationships may give rise to conflicts of interest as further described in this free writing prospectus under ‘‘Risk Factors—Potential Conflicts of Interest.’’

Swap Counterparty		JPMorgan Chase Bank, N.A. will provide an interest rate swap contract for the benefit of the Class A-MFL certificates and an interest rate swap contract for the benefit of the Class A-JFL certificates.

Cut-off Date		With respect to each mortgage loan, the due date of the related mortgage loan in June 2007, or, June 1, 2007, with respect to those mortgage loans that were originated in May 2007 and have their first due date in July 2007.

Closing Date		On or about June 14, 2007.

Distribution Date		The 12th day of each month or, if the 12th day is not a business day, on the next succeeding business day, beginning in July 2007.

Interest Accrual Period		Interest will accrue on the offered certificates (other than with respect to the Class A-MFL and Class A-JFL certificates) and the Class A-MFL and Class A-JFL regular interests during the calendar month prior to the related distribution date. With respect to the Class A-MFL and Class A-JFL certificates, the interest accrual period for any distribution date will be the period from and including the distribution date in the month preceding the month in which the related distribution date occurs (or, in the case of the first distribution date, the closing date) to, but excluding, the related distribution date. Except with respect to the Class A-MFL and Class A-JFL certificates, interest will be calculated on the offered certificates and the Class A-MFL and Class A-JFL regular

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		interests assuming that each month has 30 days and each year has 360 days. With respect to the Class A-MFL and Class A-JFL certificates, interest will be calculated based upon the actual number of days in the related interest accrual period and a year consisting of 360 days, provided that if the pass-through rate for the Class A-MFL or Class A-JFL certificates converts to a fixed rate, the interest calculation method and interest accrual period for the Class A-MFL or Class A-JFL certificates, as applicable, will be the same as the Class A-MFL or Class A-JFL regular interest, as applicable.

Due Period		For any mortgage loan and any distribution date, the period commencing on the day immediately following the due date for the mortgage loan in the month preceding the month in which that distribution date occurs and ending on and including the due date for the mortgage loan in the month in which that distribution date occurs. However, in the event that the last day of a due period (or applicable grace period) is not a business day, any periodic payments received with respect to the mortgage loans relating to that due period on the business day immediately following that last day will be deemed to have been received during that due period and not during any other due period.

Determination Date		For any distribution date, the fourth business day prior to the distribution date.

Swap Contracts		The trust will have the benefit of two interest rate swap contracts: one contract relating to the Class A-MFL certificates and one contract relating to the Class A-JFL certificates. Each contract will be issued by JPMorgan Chase Bank, N.A., which, as of the date of this free writing prospectus, has a long-term certificate of deposit rating of ‘‘Aaa’’ by Moody’s Investors Service, Inc. and ‘‘AA’’ by Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.

		The initial notional amount of the A-MFL swap contract will be equal to the initial certificate balance of the Class A-MFL regular interest (and correspondingly, the Class A-MFL certificates). The notional amount of the A-MFL swap contract will decrease to the extent of any decrease in the certificate balance of the Class A-MFL regular interest (and correspondingly, the Class A-MFL certificates). The A-MFL swap contract will have a maturity date of February 12, 2049 (the same date as the rated final distribution date of the Class A-MFL certificates). Under the A-MFL swap contract, the issuing entity will generally be obligated to pay to the swap counterparty on the related distribution date an

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		amount equal to the sum of (i) any yield maintenance charges distributable to the Class A-MFL regular interest and (ii) the product of (A) the notional amount of the A-MFL swap contract and (B) the pass-through rate on the Class A-MFL regular interest. The swap counterparty will generally be obligated to pay to the issuing entity one business day prior to each distribution date an amount equal to the product of (i) the notional amount of the A-MFL swap contract and (ii) LIBOR plus         % per annum. If there is an interest shortfall with respect to the Class A-MFL regular interest, there will be a corresponding dollar-for-dollar reduction in the interest payment made by the swap counterparty to the issuing entity and, ultimately, a corresponding decrease in the effective pass-through rate on the Class A-MFL certificates for that distribution date.

		The initial notional amount of the A-JFL swap contract will be equal to the initial certificate balance of the Class A-JFL regular interest (and correspondingly, the Class A-JFL certificates). The notional amount of the A-JFL swap contract will decrease to the extent of any decrease in the certificate balance of the Class A-JFL regular interest (and correspondingly, the Class A-JFL certificates). The A-JFL swap contract will have a maturity date of February 12, 2049 (the same date as the rated final distribution date of the Class A-JFL certificates). Under the A-JFL swap contract, the issuing entity will generally be obligated to pay to the swap counterparty on the related distribution date an amount equal to the sum of (i) any yield maintenance charges distributable to the Class A-JFL regular interest and (ii) the product of (A) the notional amount of the A-JFL swap contract and (B) the pass-through rate on the Class A-JFL regular interest. The swap counterparty will generally be obligated to pay to the issuing entity one business day prior to each distribution date an amount equal to the product of (i) the notional amount of the A-JFL swap contract and (ii) LIBOR plus         % per annum. If there is an interest shortfall with respect to the Class A-JFL regular interest, there will be a corresponding dollar-for-dollar reduction in the interest payment made by the swap counterparty to the issuing entity and, ultimately, a corresponding decrease in the effective pass-through rate on the Class A-JFL certificates for that distribution date.

		See ‘‘Risk Factors—Risks Relating to the Swap Contracts’’ and ‘‘Description of the Swap Contracts’’ in this free writing prospectus.

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Transaction Overview

On the closing date, each sponsor will sell its mortgage loans to the depositor, which will in turn deposit the mortgage loans into the issuing entity, a common law trust created on the closing date. The trust, which will be the issuing entity, will be formed by a pooling and servicing agreement, to be entered into among the depositor, the master servicers, the special servicer and the trustee. The master servicers will service the mortgage loans (other than the specially serviced mortgage loans, the 599 Lexington Avenue loan and the AmeriCold Portfolio loan) in accordance with the pooling and servicing agreement and provide the information to the trustee necessary for the trustee to calculate distributions and other information regarding the certificates.

The transfers of the mortgage loans from the sponsors to the depositor and from the depositor to the issuing entity in exchange for the certificates are illustrated below:

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Offered Securities

General		We are offering the following classes of commercial mortgage pass-through certificates as part of Series 2007-CIBC19:

		•	Class A-1

		•	Class A-2

		•	Class A-3

		•	Class A-4

		•	Class A-SB

		•	Class A-1A

		•	Class X-1

		•	Class X-2

		•	Class A-M

		•	Class A-MFL

		•	Class A-J

		•	Class A-JFL

		•	Class B

		•	Class C

		•	Class D

		The Series 2007-CIBC19 certificates will consist of the above classes and the following classes that are not being offered through this free writing prospectus and the accompanying prospectus: Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P, Class NR, Class R and Class LR.

		The Series 2007-CIBC19 certificates will collectively represent beneficial ownership interests in the issuing entity, a trust created by J.P. Morgan Chase Commercial Mortgage Securities Corp. The trust’s assets will primarily be 242 fixed rate mortgage loans secured by first liens on 315 commercial, multifamily and manufactured housing community properties.

Certificate Balances		Your certificates will have the approximate aggregate initial certificate balance or notional amount set forth below, subject to a variance of plus or minus 5%:

Class A-1				$	52,995,000
Class A-2				$	151,614,000
Class A-3				$	180,000,000
Class A-4				$	1,204,222,000
Class A-SB				$	117,625,000
Class A-1A				$	595,708,000
Class X-1				$	3,288,806,503
Class X-2				$	3,263,760,000
Class A-M				$	278,881,000

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Class A-MFL				$	50,000,000
Class A-J				$	213,104,000
Class A-JFL				$	50,000,000
Class B				$	61,665,000
Class C				$	32,888,000
Class D				$	49,333,000

Pass-Through Rates

A.    Offered Certificates		Your certificates will accrue interest at an annual rate called a pass-through rate. The initial pass-through rate is set forth below for each class:

Class A-1						%(1)
Class A-2						%(1)
Class A-3						%(1)
Class A-4						%(1)
Class A-SB						%(1)
Class A-1A						%(1)
Class X-1						%(2)
Class X-2						%(3)
Class A-M						%(1)
Class A-MFL			LIBOR +             %(4)
Class A-J						%(1)
Class A-JFL			LIBOR +             %(5)
Class B						%(1)
Class C						%(1)
Class D						%(1)

		(1)	The pass-through rates applicable to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class A-M, Class A-J, Class B, Class C and Class D certificates on each distribution date will be a per annum rate equal to one of (i) a fixed rate, (ii) the weighted average of the net mortgage rates on the mortgage loans (in each case adjusted, if necessary, to accrue on the basis of a 360-day year consisting of twelve 30-day months), (iii) a rate equal to the lesser of a specified fixed pass-through rate and the rate described in clause (ii) above or (iv) the rate described in clause (ii) above less a specified percentage

		(2)	The interest accrual amount on the Class X-1 certificates will be calculated by reference to a notional amount equal to the aggregate of the certificate balances of each class of certificates (other than the Class A-MFL, Class A-JFL, Class X-1, Class X-2, Class R and Class LR certificates) and the Class A-MFL and Class A-JFL regular interests. The pass-through rate on the Class X-1 certificates for any distribution date will be based on the weighted average of the interest strip rates of the components of the Class X-1 certificates, which will be calculated as described under ‘‘Description of the Certificates—Distributions’’ in this free writing prospectus.

		(3)	The interest accrual amount on the Class X-2 certificates will be calculated by reference to a notional amount equal to the aggregate of the certificate balances of all or some of the other classes of certificates or the Class A-MFL or Class A-JFL regular interest or portions of those certificate balances or regular interests. The pass-through rate on the Class X-2 certificates will be based on the weighted average of the interest strip rates of the components of the Class X-2 certificates, which will be calculated as described under ‘‘Description of the Certificates—Distributions’’ in this free writing prospectus.

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		(4)	The pass-through rate applicable to the Class A-MFL certificates on each distribution date will be a per annum rate equal to LIBOR plus         % per annum. In addition, under certain circumstances described in this free writing prospectus, the pass-through rate applicable to the Class A-MFL certificates may convert to a fixed rate equal to         % per annum. The initial LIBOR rate will be determined on June 12, 2007, and subsequent LIBOR rates will be determined 2 LIBOR business days before the start of the related interest accrual period. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus.

		(5)	The pass-through rate applicable to the Class A-JFL certificates on each distribution date will be a per annum rate equal to LIBOR plus         % per annum. In addition, under certain circumstances described in this free writing prospectus, the pass-through rate applicable to the Class A-JFL certificates may convert to a fixed rate equal to         % per annum. The initial LIBOR rate will be determined on June 12, 2007, and subsequent LIBOR rates will be determined 2 LIBOR business days before the start of the related interest accrual period. See ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus.

B.    Interest Rate Calculation             Convention		Interest on the certificates (other than the Class A-MFL and Class A-JFL certificates) and the Class A-MFL and Class A-JFL regular interests will be calculated based on a 360-day year consisting of twelve 30-day months, or a ‘‘30/360 basis.’’ Interest on the Class A-MFL and Class A-JFL certificates will be calculated based on the actual number of days in each accrual period and a 360-day year, or an ‘‘actual/360 basis.’’ However, if the pass-through rate for the Class A-MFL or Class A-JFL certificates converts to a fixed rate, interest on such class will be calculated on a 30/360 basis.

		For purposes of calculating the pass-through rates on each of the classes of certificates with a pass-through rate that is based on, limited by, or equal to the weighted average of the net mortgage rates on the mortgage loans, the mortgage loan interest rates will not reflect any default interest rate, any mortgage loan term modifications agreed to by the special servicer or any modifications resulting from a borrower’s bankruptcy or insolvency.

		For purposes of calculating the pass-through rates on the certificates, the interest rate for each mortgage loan that accrues interest based on the actual number of days in each month and assuming a 360-day year, or an ‘‘actual/360 basis,’’ will be recalculated, if necessary, so that the amount of interest that would accrue at that recalculated rate in the applicable month, calculated on a 30/360 basis, will equal the amount of interest that is required to be paid on that mortgage loan in that month, subject to certain adjustments as described in ‘‘Description of the Certificates—Distributions— Pass-Through Rates’’ and ’’—Interest Distribution Amount’’ in this free writing prospectus.

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C.    Servicing and             Administration Fees		The master servicers and special servicer are entitled to a master servicing fee and a special servicing fee, respectively, from the interest payments on the mortgage loans. The master servicing fee for each distribution date is calculated on the outstanding principal amount of each mortgage loan (including the 599 Lexington Avenue loan and the AmeriCold Portfolio loan) in the trust fund at the master servicing fee rate equal to a per annum rate ranging from 0.0100% to 0.1100%. The special servicing fee for each distribution date is calculated based on the outstanding principal amount of each mortgage loan (excluding the 599 Lexington Avenue loan and the AmeriCold Portfolio loan, which will be subject to a special servicing fee pursuant to the 2007-LDP10 pooling and servicing agreement and the 2007-CIBC18 pooling and servicing agreement, respectively) that is a specially serviced mortgage loan at the special servicing fee rate equal to a per annum rate of 0.25%. The master servicers and special servicer are also entitled to additional fees and amounts, including income on the amounts held in permitted investments, liquidation fees and workout fees. The trustee fee for each distribution date is calculated on the outstanding principal amount of each mortgage loan (including the 599 Lexington Avenue loan and the AmeriCold Portfolio loan) in the trust fund at the trustee fee rate equal to a per annum rate of 0.00063%. See ‘‘Transaction Parties—Servicing and Other Compensation and Payment of Expenses’’ in this free writing prospectus.

Distributions

A.    Amount and Order of             Distributions		On each distribution date, funds available for distribution from the mortgage loans, net of specified trust fees, reimbursements and expenses, will be distributed in the following amounts and order of priority:

		First/Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class X-1 and Class X-2 certificates: To pay interest concurrently: (a) on the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB certificates, pro rata, from the portion of the funds available for distribution attributable to the mortgage loans in loan group 1; (b) on the Class A-1A certificates from the portion of the funds available for distribution attributable to the mortgage loans in loan group 2; and (c) on the Class X-1 and Class X-2 certificates, pro rata, from the funds available for distribution attributable to all mortgage loans, without regard to loan groups, in each case in accordance with their interest entitlements. However, if,

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		on any distribution date, the funds available for distribution (or applicable portion) are insufficient to pay in full the total amount of interest to be paid to any of the classes described above, the funds available for distribution will be allocated among all those classes, pro rata, without regard to loan groups, in accordance with their interest entitlements for that distribution date.

		Second/Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates: To the extent of funds allocated to principal and available for distribution: (a)(1) first, to principal on the Class A-SB certificates, in an amount equal to funds attributable to mortgage loans in loan group 1 and, after the Class A-1A certificates have been reduced to zero, the remaining funds attributable to mortgage loans in loan group 2, until the certificate balance of the Class A-SB certificates is reduced to the planned principal balance for the related distribution date set forth in Schedule III to this free writing prospectus, (2) then to principal on the Class A-1 certificates, in an amount equal to the funds attributable to mortgage loans in loan group 1 remaining after the payments specified in clause (a)(1) above have been made and, after the Class A-1A certificates have been reduced to zero, the remaining funds attributable to mortgage loans in loan group 2, until the certificate balance of the Class A-1 certificates has been reduced to zero, (3) then to principal on the Class A-2 certificates, in an amount equal to the funds attributable to mortgage loans in loan group 1 remaining after the payments specified in clauses (a)(1) and (a)(2) above have been made and, after the Class A-1A certificates have been reduced to zero, the remaining funds attributable to mortgage loans in loan group 2, until the certificate balance of the Class A-2 certificates has been reduced to zero, (4) then to principal on the Class A-3 certificates, in an amount equal to the funds attributable to mortgage loans in loan group 1 remaining after the payments specified in clauses (a)(1), (a)(2) and (a)(3) above have been made and, after the Class A-1A certificates have been reduced to zero, the remaining funds attributable to mortgage loans in loan group 2, until the certificate balance of the Class A-3 certificates has been reduced to zero, (5) then to principal on the Class A-4 certificates, in an amount equal to the funds attributable to mortgage loans in loan group 1 remaining after the payments specified in clauses (a)(1), (a)(2), (a)(3) and (a)(4) above have been made and, after the Class A-1A certificates have been reduced to zero, the remaining funds attributable to mortgage loans in loan group 2, until the certificate

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		balance of the Class A-4 certificates has been reduced to zero, and (6) then to principal on the Class A-SB certificates, in an amount equal to the funds attributable to mortgage loans in loan group 1 remaining after the payments specified in clauses (a)(1), (a)(2), (a)(3), (a)(4) and (a)(5) above have been made and, after the Class A-1A certificates have been reduced to zero, the remaining funds attributable to mortgage loans in loan group 2, until the certificate balance of the Class A-SB certificates has been reduced to zero; and (b) to the Class A-1A certificates, in an amount equal to the funds attributable to mortgage loans in loan group 2 and, after the certificate balances of the Class A-4 and Class A-SB certificates have been reduced to zero, the funds attributable to mortgage loans in loan group 1 remaining after the payments specified in clause (a) have been made, until the certificate balance of the Class A-1A certificates has been reduced to zero. If the certificate balance of each and every class of certificates other than the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates has been reduced to zero as a result of the allocation of mortgage loan losses to those certificates, funds available for distributions of principal will be distributed to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates, pro rata, rather than sequentially, without regard to loan groups, the distribution priorities above or the planned principal balance of the Class A-SB certificates.

		Third/Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates: To reimburse the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates, pro rata, for any previously unreimbursed losses on the mortgage loans allocable to principal that were previously borne by those classes, without regard to loan groups.

		Fourth/Class A-M certificates and Class A-MFL regular interest: To the Class A-M certificates and the Class A-MFL regular interest as follows: (a) first, to interest on the Class A-M certificates and the Class A-MFL regular interest, pro rata, in the amount of their interest entitlement; (b) second, to the extent of funds allocated to principal and available for distribution remaining after distributions in respect of principal to each class with a higher priority (in this case, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates), to principal on the Class A-M certificates and the Class A-MFL regular interest, pro rata, until the certificate balance of each of the Class A-M certificates and the Class A-MFL regular interest has been reduced to zero; and (c) third, to

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		reimburse the Class A-M certificates and the Class A-MFL regular interest, pro rata, for any previously unreimbursed losses on the mortgage loans allocable to principal that were previously borne by that class.

		Fifth/Class A-J certificates and Class A-JFL regular interest: To the Class A-J certificates and Class A-JFL regular interest as follows: (a) first, to interest on the Class A-J certificates and Class A-JFL regular interest, pro rata, in the amount of their interest entitlement; (b) second, to the extent of funds allocated to principal and available for distribution remaining after distributions in respect of principal to each class with a higher priority (in this case, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A and Class A-M certificates and the Class A-MFL regular interest), to principal on the Class A-J certificates and Class A-JFL regular interest, pro rata, until the certificate balance of each of the Class A-J certificates and Class A-JFL regular interest has been reduced to zero; and (c) third, to reimburse the Class A-J certificates and Class A-JFL regular interest, pro rata, for any previously unreimbursed losses on the mortgage loans allocable to principal that were previously borne by that class.

		Sixth/Class B certificates: To the Class B certificates as follows: (a) first, to interest on the Class B certificates in the amount of its interest entitlement; (b) second, to the extent of funds allocated to principal and available for distribution remaining after distributions in respect of principal to each class with a higher priority (in this case, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class A-M and Class A-J certificates and the Class A-MFL and Class A-JFL regular interests), to principal on the Class B certificates, until the certificate balance of the Class B certificates has been reduced to zero; and (c) third, to reimburse the Class B certificates for any previously unreimbursed losses on the mortgage loans allocable to principal that were previously borne by that class.

		Seventh/Class C certificates: To the Class C certificates in a manner analogous to the Class B certificates’ allocations of priority Sixth above.

		Eighth/Class D certificates: To the Class D certificates in a manner analogous to the Class B certificates’ allocations of priority Sixth above.

		Ninth/Non-offered certificates: In the amounts and order of priority described in ‘‘Description of the Certificates—Distributions—Priority’’ in this free writing prospectus.

		For purposes of making distributions to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A

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		certificates, except in the event of insufficient funds, as described above, the pool of mortgage loans will be deemed to consist of two distinct groups, loan group 1 and loan group 2. Loan group 1 will consist of 183 mortgage loans, representing approximately 81.9% of the aggregate principal balance of all the mortgage loans as of the cut-off date and loan group 2 will consist of 59 mortgage loans, representing approximately 18.1% of the aggregate principal balance of all the mortgage loans as of the cut-off date. Loan group 2 will include approximately 100.0% of all the mortgage loans secured by multifamily and manufactured housing community properties as a percentage of the aggregate principal balance of all the mortgage loans as of the cut-off date. Annex A-1 to this free writing prospectus will set forth the loan group designation with respect to each mortgage loan.

		On each distribution date, funds available for distribution on the Class A-MFL certificates (which include any net swap payments related to the Class A-MFL certificates) will be distributed in the following amounts and order of priority: (a) first, to interest on the Class A-MFL certificates, in the amount of their interest entitlement; (b) second, to the extent of funds allocated to principal in respect of the Class A-MFL regular interest, to principal on the Class A-MFL certificates until the certificate balance of the Class A-MFL certificates has been reduced to zero; and (c) third, to reimburse the Class A-MFL certificates for any previously unreimbursed losses on the mortgage loans allocable to principal that were previously borne by such class.

		On each distribution date, funds available for distribution on the Class A-JFL certificates (which include any net swap payments related to the Class A-JFL certificates) will be distributed in the following amounts and order of priority: (a) first, to interest on the Class A-JFL certificates, in the amount of their interest entitlement; (b) second, to the extent of funds allocated to principal in respect of the Class A-JFL regular interest, to principal on the Class A-JFL certificates until the certificate balance of the Class A-JFL certificates has been reduced to zero; and (c) third, to reimburse the Class A-JFL certificates for any previously unreimbursed losses on the mortgage loans allocable to principal that were previously borne by such class.

B.    Interest and Principal             Entitlements		A description of the interest entitlement of each class of offered certificates and the Class A-MFL and Class A-JFL regular interests can be found in ‘‘Description of the

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		Certificates—Distributions—Interest Distribution Amount’’ in this free writing prospectus.

		A description of the amount of principal required to be distributed to each class of offered certificates and the Class A-MFL and Class A-JFL regular interests entitled to principal on a particular distribution date can be found in ‘‘Description of the Certificates—Distributions— Principal Distribution Amount’’ in this free writing prospectus.

C.    Yield Maintenance Charges		Yield maintenance charges with respect to the mortgage loans will be allocated to the offered certificates (other than the Class A-MFL and Class A-JFL certificates) and the Class A-MFL and Class A-JFL regular interests as described in ‘‘Description of the Certificates —Allocation of Yield Maintenance Charges and Prepayment Premiums’’ in this free writing prospectus.

		For so long as the applicable swap contract is in effect, any yield maintenance charges distributable in respect of the Class A-MFL or Class A-JFL regular interest will be payable to the swap counterparty pursuant to the terms of the respective swap contract. If the applicable swap contract is no longer in effect, any yield maintenance charges allocable to the Class A-MFL or Class A-JFL regular interest will be paid to the holders of the Class A-MFL or Class A-JFL certificates, as applicable.

		For an explanation of the calculation of yield maintenance charges, see ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Prepayment Provisions’’ in this free writing prospectus.

D.    General		The chart below describes the manner in which the payment rights of certain classes of certificates and the Class A-MFL and Class A-JFL regular interests will be senior or subordinate, as the case may be, to the payment rights of other classes of certificates and the Class A-MFL and Class A-JFL regular interests. The chart shows the entitlement to receive principal and/or interest of certain classes of certificates and the Class A-MFL and Class A-JFL regular interests on any distribution date in descending order (beginning with the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class X-1 and Class X-2 certificates). It also shows the manner in which mortgage loan losses are allocated to certain classes of certificates and the Class A-MFL and Class A-JFL regular interests in ascending order (beginning with the other classes of certificates (other than the Class R and Class LR certificates) that are not being offered by this free

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		writing prospectus). No principal payments or mortgage loan losses will be allocated to the Class R, Class LR, Class X-1 or Class X-2 certificates, although principal payments and mortgage loan losses may reduce the notional amount of the Class X-1 and/or Class X-2 certificates and, therefore, the amount of interest they accrue. In addition, while mortgage loan losses and available funds shortfalls will not be directly allocated to the Class A-MFL or Class A-JFL certificates, mortgage loan losses and available funds shortfalls may be allocated to the Class A-MFL or Class A-JFL regular interest, in reduction of the certificate balance of the Class A-MFL or Class A-JFL regular interest, and the amount of its interest entitlement. Any decrease in the certificate balance of the Class A-MFL or Class A-JFL regular interest will result in a corresponding decrease in the certificate balance of the Class A-MFL or Class A-JFL certificates, as applicable, and any interest shortfalls suffered by the Class A-MFL or Class A-JFL regular interest will reduce the amount of interest distributed on the Class A-MFL or Class A-JFL certificates, as applicable, to the extent described in this free writing prospectus.

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		*	The Class X-1 and Class X-2 certificates are interest-only certificates.

		**	The Class A-MFL and Class A-JFL certificates are entitled to receive floating rate interest payments from a swap provider under their respective interest rate swap contracts in exchange for the fixed rate interest payments to which the Class A-MFL and Class A-JFL regular interests, respectively, are entitled.

		Other than the subordination of certain classes of certificates, as described above, no other form of credit enhancement or interest rate protection will be available for the benefit of the holders of the offered certificates.

		Principal losses on mortgage loans that are allocated to a class of certificates (other than the Class X-1, Class X-2, Class A-MFL, Class A-JFL, Class R or Class LR certificates) or the Class A-MFL or Class A-JFL regular interest will reduce the certificate balance of that class of certificates or the Class A-MFL or Class A-JFL regular interest (and correspondingly the Class A-MFL or Class A-JFL certificates, as applicable).

		See ‘‘Description of the Certificates’’ in this free writing prospectus.

E.    Shortfalls in Available Funds		The following types of shortfalls in available funds will reduce distributions to the classes of certificates with the lowest payment priorities or the Class A-MFL or Class A-JFL regular interest: shortfalls resulting from the payment of special servicing fees and other additional compensation that the special servicer is entitled to

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		receive; shortfalls resulting from interest on advances made by the master servicers, the special servicer or the trustee (to the extent not covered by late payment charges or default interest paid by the related borrower); shortfalls resulting from extraordinary expenses of the trust; and shortfalls resulting from a modification of a mortgage loan’s interest rate or principal balance or from other unanticipated or default-related expenses of the trust. Reductions in distributions to the Class A-MFL or Class A-JFL regular interest will cause a corresponding reduction in distributions to the Class A-MFL or Class A-JFL certificates, respectively, to the extent described in this free writing prospectus. In addition, prepayment interest shortfalls that are not covered by certain compensating interest payments made by the master servicers are required to be allocated to the certificates (other than the Class A-MFL and Class A-JFL certificates) and the Class A-MFL and Class A-JFL regular interests (and thus to the Class A-MFL and Class A-JFL certificates, respectively, to the extent described in this free writing prospectus), on a pro rata basis, to reduce the amount of interest payable on the certificates to the extent described in this free writing prospectus). See ‘‘Description of the Certificates—Distributions— Priority’’ in this free writing prospectus.

Advances

A.    P&I Advances		Each master servicer is required to advance a delinquent periodic mortgage loan payment with respect to a mortgage loan serviced by such master servicer (unless a master servicer or the special servicer determines that the advance would be non-recoverable). The master servicers will not be required to advance balloon payments due at maturity in excess of the regular periodic payment, interest in excess of a mortgage loan’s regular interest rate, default interest or prepayment premiums or yield maintenance charges. The amount of the interest portion of any advance will be subject to reduction to the extent that an appraisal reduction of the related mortgage loan has occurred. See ‘‘Description of the Certificates—Advances’’ in this free writing prospectus. There may be other circumstances in which the master servicers will not be required to advance one full month of principal and/or interest. If a master servicer fails to make a required advance, the trustee will be required to make the advance, unless the trustee determines that the advance would be non-recoverable. See ‘‘Description of the Certificates—Advances’’ in this free writing prospectus. If an interest advance is made by a master servicer, that

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		master servicer will not advance its servicing fee, but will advance the trustee’s fee. None of the master servicers or the trustee will be required to advance any amounts due to be paid by the swap counterparty for distribution to the Class A-MFL or Class A-JFL certificates or be liable for any breakage, termination or other costs owed by the issuing entity to the swap counterparty. See ‘‘Description of the Certificates— Advances’’ in this free writing prospectus.

B.    Property Protection Advances		Each master servicer may be required, and the special servicer may be permitted, to make advances to pay delinquent real estate taxes, assessments and hazard insurance premiums and similar expenses necessary to:

		•	protect and maintain the related mortgaged property;

		•	maintain the lien on the related mortgaged property; or

		•	enforce the related mortgage loan documents.

		If a master servicer fails to make a required advance of this type, the trustee will be required to make this advance. None of the master servicers, the special servicer or the trustee is required to advance amounts determined by such party to be non-recoverable. See ‘‘Description of the Certificates—Advances’’ in this free writing prospectus.

C.    Interest on Advances		The master servicers, the special servicer and the trustee, as applicable, will be entitled to interest on the above described advances at the ‘‘Prime Rate’’ as published in The Wall Street Journal, as described in this free writing prospectus. Interest accrued on outstanding advances may result in reductions in amounts otherwise payable on the certificates. Neither the master servicers nor the trustee will be entitled to interest on advances made with respect to principal and interest due on a mortgage loan until the related due date has passed and any grace period for late payments applicable to the mortgage loan has expired. See ‘‘Description of the Certificates—Advances’’ and ‘‘—Subordination; Allocation of Collateral Support Deficit’’ in this free writing prospectus and ‘‘Description of the Certificates —Advances in Respect of Delinquencies’’ and ‘‘Description of the Pooling Agreements—Certificate Account’’ in the prospectus.

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The Mortgage Loans

The Mortgage Pool		The trust’s primary assets will be 242 fixed rate mortgage loans, each evidenced by one or more promissory notes secured by first mortgages, deeds of trust or similar security instruments on the fee and/or leasehold estate of the related borrower in 315 commercial, multifamily and manufactured housing community properties.

		The aggregate principal balance of the mortgage loans as of the cut-off date will be approximately $3,288,806,504.

		The 599 Lexington Avenue loan (identified as Loan No. 1 on Annex A-1 to this free writing prospectus), with a principal balance as of the cut-off date of $225,000,000 and representing approximately 6.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 8.4% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), is one of four mortgage loans that is part of a split loan structure, and is secured by the same mortgage instrument on the related mortgaged property. The first of these mortgage loans, evidenced by promissory note A2, is the 599 Lexington Avenue loan, which is included in the trust. The second of these mortgage loans, evidenced by promissory note A1, is part of the split loan structure, but is not included in the trust and is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP10. The third and fourth of these mortgage loans, evidenced by promissory notes A3 and A4, respectively, are part of the split loan structure but are not included in the trust. The 599 Lexington Avenue A1 pari passu companion loan, the 599 Lexington Avenue A3 pari passu companion loan and the 599 Lexington Avenue A4 pari passu companion loan (collectively, the 599 Lexington Avenue pari passu companion loans) are pari passu in right of payment with the 599 Lexington Avenue loan and have outstanding principal balances as of the cut-off date of $225,000,000, $150,000,000 and $150,000,000, respectively.

		The 599 Lexington Avenue loan and the 599 Lexington Avenue pari passu companion loans will be serviced in accordance with the 2007-LDP10 pooling and servicing agreement by the 599 Lexington Avenue master servicer and the 599 Lexington Avenue special servicer, and in accordance with the applicable servicing standards provided in the 2007-LDP10 pooling and servicing agreement. In addition, the holders of the 599

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		Lexington Avenue whole loan that represent a majority of the aggregate outstanding principal balance of the 599 Lexington Avenue whole loan will have certain consent rights, subject to certain conditions set forth in the related intercreditor agreement, to advise and direct the 599 Lexington Avenue master servicer and/or the 599 Lexington Avenue special servicer with respect to various servicing matters or mortgage loan modifications affecting each of the mortgage loans in the related split loan structure, including the 599 Lexington Avenue loan that is included in the trust. Additionally, any holder of the 599 Lexington Avenue whole loan will have a right to consult on a non-binding basis with the 599 Lexington Avenue master servicer or the 599 Lexington Avenue special servicer. See ‘‘Description of the Mortgage Pool—The 599 Lexington Avenue Whole Loan’’ in this free writing prospectus.

		The mortgage loan amount used in this free writing prospectus for purposes of calculating the loan-to-value ratios and debt service coverage ratios for the 599 Lexington Avenue loan is the aggregate principal balance of the 599 Lexington Avenue loan and the 599 Lexington Avenue pari passu companion loans.

		The AmeriCold Portfolio loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus), with a principal balance as of the cut-off date of $35,000,000 and representing approximately 1.1% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 1.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), is one of five mortgage loans that is part of a split loan structure, and is secured by the same mortgage instrument on the related mortgaged property. The first of these mortgage loans, evidenced by promissory note A-2C, is the AmeriCold Portfolio loan, which is included in the trust. The second of these mortgage loans, evidenced by promissory note A-2A, is part of the split loan structure, but is not included in the trust and is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18, Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC18. The third, fourth and fifth of these mortgage loans, evidenced by promissory notes A-2B, A-1A and A-1B, respectively, are part of the split loan structure but are not included in the trust. The AmeriCold Portfolio A-2A pari passu companion loan, the AmeriCold Portfolio A-2B pari passu companion loan, the AmeriCold Portfolio A-1A pari passu companion loan and the AmeriCold Portfolio A-1B pari passu companion loan (collectively, the AmeriCold

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		Portfolio pari passu companion loans) are pari passu in right of payment with the AmeriCold Portfolio loan and have outstanding principal balances as of the cut-off date of $70,000,000, $35,000,000, $180,000,000 and $30,000,000, respectively.

		The AmeriCold Portfolio loan and the AmeriCold Portfolio pari passu companion loans will be serviced in accordance with the 2007-CIBC18 pooling and servicing agreement by the AmeriCold Portfolio primary servicer and the AmeriCold Portfolio special servicer, and in accordance with the servicing standards provided in the 2007-CIBC18 pooling and servicing agreement. In addition, the holder of the AmeriCold Portfolio A-1A pari passu companion loan (the directing certificateholder of the CD 2007-CD4 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series CD 2007-CD4 will be the holder of the AmeriCold Portfolio A-1A pari passu companion loan for this purpose), will have the right, subject to certain conditions set forth in the related intercreditor agreement, to direct the AmeriCold Portfolio primary servicer and/or the AmeriCold Portfolio special servicer, and or consent, with respect to various servicing matters or mortgage loan modifications affecting each of the mortgage loans in the related split loan structure, including the AmeriCold Portfolio loan that is included in the trust. See ‘‘Description of the Mortgage Pool— The AmeriCold Portfolio Whole Loan’’ in this free writing prospectus.

		The mortgage loan amount used in this free writing prospectus for purposes of calculating the loan-to-value ratios and debt service coverage ratios for the AmeriCold Portfolio loan is the aggregate principal balance of the AmeriCold Portfolio loan and the AmeriCold Portfolio pari passu companion loans.

		Five (5) mortgage loans (referred to in this free writing prospectus as the AB mortgage loans) are each evidenced by the senior of two notes secured by a single mortgage on the related mortgaged property and a single assignment of leases, with the AB subordinate companion loan not being part of the trust fund. The AB mortgage loans are secured by the related mortgaged properties identified on Annex A-1 to this free writing prospectus as Green Hills Corporate Center, ABB Automation, Inc., Cumberland Tech Center, Holiday Inn-Temecula and Veteran’s Parkway, representing in the aggregate approximately 3.8% of the aggregate principal balance of the mortgage loans as of the cut-off date (approximately 4.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date).

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		The following table and discussion contains general information regarding the AB mortgage loans:

AB Mortgage Loan			% of Initial Pool Balance						Loan Group						% of Initial Loan Group 1 Balance
Green Hills Corporate Center					2.0	%					1						2.4	%
ABB Automation, Inc.					0.9	%					1						1.1	%
Cumberland Tech Center					0.4	%					1						0.4	%
Holiday Inn Express – Temecula					0.3	%					1						0.4	%
Veteran’s Parkway					0.2	%					1						0.3	%

		Each AB mortgage loan and its related AB subordinate companion loan are subject to an intercreditor agreement. The intercreditor agreement generally allocates collections in respect of the related mortgage loan prior to a monetary event of default, or material non-monetary event of default to the mortgage loan in the trust fund and the related AB subordinate companion loan on a pro rata basis. After a monetary event of default or material non-monetary event of default, the intercreditor agreement generally allocates collections in respect of such mortgage loans first to the mortgage loan in the trust and second to the related AB subordinate companion loan. The applicable master servicer and the special servicer will service and administer each AB mortgage loan and its AB subordinate companion loan pursuant to the pooling and servicing agreement and the related intercreditor agreement so long as such AB mortgage loan is part of the trust fund. Amounts attributable to each AB subordinate companion loan will not be assets of the trust, and will be beneficially owned by the holder of the AB subordinate companion loan. See ‘‘Description of the Mortgage Pool—AB Mortgage Loan Pairs’’ in this free writing prospectus. The holder of each AB subordinate companion loan will have the right to purchase the related AB mortgage loan under certain limited circumstances. In addition, the holder of certain of the AB subordinate companion loans will have the right to approve certain modifications to the related senior loan under certain circumstances. See ‘‘Description of the Mortgage Pool— AB Mortgage Loan Pairs’’ in this free writing prospectus.

		The following tables set forth certain anticipated characteristics of the mortgage loans as of the cut-off date (unless otherwise indicated). Except as specifically provided in this free writing prospectus, information presented in this free writing prospectus (including loan-to-value ratios and debt service coverage ratios) with respect to any AB mortgage loan is calculated without regard to the related AB subordinate companion loan, and in the case of the 599 Lexington

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		Avenue loan and the AmeriCold Portfolio loan, in certain circumstances, such information, particularly as it relates to debt service coverage ratios and loan-to-value ratios, includes the principal balance and debt service payments of the 599 Lexington Avenue pari passu companion loans and the AmeriCold Portfolio pari passu companion loans, respectively. The sum of the numerical data in any column may not equal the indicated total due to rounding. Unless otherwise indicated, all figures presented in this ‘‘Summary of Terms’’ are calculated as described under ‘‘Description of the Mortgage Pool— Additional Mortgage Loan Information’’ in this free writing prospectus and all percentages represent the indicated percentage of the aggregate principal balance of the pool of mortgage loans, the mortgage loans in loan group 1 or the mortgage loans in loan group 2, in each case, as of the cut-off date. The principal balance of each mortgage loan as of the cut-off date assumes the timely receipt of principal scheduled to be paid on or before the cut-off date and no defaults, delinquencies or prepayments on any mortgage loan on or prior to the cut-off date. Whenever percentages and other information in this free writing prospectus are presented on the mortgaged property level rather than the mortgage loan level, the information for mortgage loans secured by more than one mortgaged property is based on allocated loan amounts as stated in Annex A-1 to this free writing prospectus.

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The mortgage loans will have the following approximate characteristics as of the cut-off date:

Cut-off Date Mortgage Loan Characteristics

			All Mortgage Loans			Loan Group 1			Loan Group 2
Aggregate outstanding principal balance(1)			$3,288,806,504			$2,693,097,968			$595,708,536
Number of mortgage loans			242			183			59
Number of mortgaged properties			315			251			64
Number of crossed loan pools			5			1			4
Crossed loan pools as a percentage			4.5%			0.3%			23.2%
Range of mortgage loan principal balances			$997,779 to $225,000,000			$997,779 to $225,000,000			$2,400,000 to $36,500,000
Average mortgage loan principal balances			$13,590,110			$14,716,382			$10,096,755
Range of mortgage rates			5.39600% to 7.60000%			5.39600% to 7.60000%			5.56700% to 6.42000%
Weighted average mortgage rate			5.77135%			5.77368%			5.76078%
Range of original terms to maturity			60 months to 240 months			60 months to 240 months			60 months to 120 months
Weighted average original term to maturity			117 months			117 months			119 months
Range of remaining terms to maturity			56 months to 238 months			56 months to 238 months			58 months to 120 months
Weighted average remaining term to maturity			115 months			115 months			117 months
Range of original amortization term(2)			240 months to 360 months			240 months to 360 months			240 months to 360 months
Weighted average original amortization term(2)			352 months			353 months			345 months
Range of remaining amortization terms(2)			238 months to 360 months			238 months to 360 months			238 months to 360 months
Weighted average remaining amortization term(2)			352 months			353 months			345 months
Range of loan-to-value ratios(3)			32.0% to 80.1%			32.0% to 80.1%			43.6% to 80.0%
Weighted average loan-to-value ratio(3)			74.3%			74.2%			74.8%
Range of loan-to-value ratios as of the maturity date(3)(5)			26.9% to 80.0%			26.9% to 80.0%			28.3% to 80.0%
Weighted average loan-to-value ratio as of the maturity(3)(5)			69.7%			69.4%			71.2%
Range of debt service coverage ratios(4)			1.06x to 2.76x			1.12x to 2.76x			1.06x to 1.80x
Weighted average debt service coverage ratio(4)			1.32x			1.32x			1.29x
Percentage of aggregate outstanding principal balance consisting of:
Balloon mortgage loans
Partial Interest-only.			42.1%			42.8%			38.8%
Interest-only			39.6%			36.5%			53.7%
Balloon			17.5%			19.8%			7.5%
Fully Amortizing Loans			0.8%			1.0%			0.0%

(1) Subject to a permitted variance of plus or minus 5%.

(2) Excludes the mortgage loans that are interest-only for the entire term.

(3) In the case of 28 mortgage loans (identified as Loan Nos. 2, 6, 8, 9, 11, 22, 27, 29, 31, 34, 41, 42, 51, 55, 61, 78, 79, 83, 92, 105, 106, 110, 122, 127, 130, 186, 189, and 228 on Annex A-1 to this free writing prospectus), the loan-to-value ratios were based upon the ‘‘as-stabilized’’ values as defined in the related appraisal. In the case of 1 mortgage loan (identified as Loan No. 1 on Annex A-1 to this free writing prospectus), the loan-to-value ratio was based on the aggregate cut-off date principal balance of the 599 Lexington Avenue loan and the 599 Lexington Avenue pari passu companion loans. In the case of 1 mortgage loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus), the loan-to-value ratio was based on the aggregate cut-off date principal balance of the AmeriCold Portfolio loan and the AmeriCold Portfolio pari passu companion loans.

(4) For all partial interest-only loans, the debt service coverage ratio was calculated based on the first principal and interest payments to be made into the trust during the term of the loan. With respect to the 599 Lexington Avenue loan (identified as Loan No. 1 on Annex A-1 to this free writing prospectus), the debt service coverage ratio was based on the aggregate cut-off date principal balance and debt service of the 599 Lexington Avenue loan and the 599 Lexington Avenue pari passu companion loans. With respect to the AmeriCold Portfolio loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus), the debt service coverage ratio was based on the aggregate cut-off date principal balance and debt service of the AmeriCold Portfolio loan and the AmeriCold Portfolio pari passu companion loans. In the case of 1 mortgage loan (identified as Loan No. 162 on Annex A-1 to this free writing prospectus), the underwritten debt service coverage ratio was calculated net of an $800,000 letter of credit in making such calculation.

(5) Excludes the fully amortizing mortgage loans.

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		The mortgage loans accrue interest based on the following conventions:

		Interest Accrual Basis

Interest Accrual Basis			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group1 Balance						% of Initial Loan Group 2 Balance
Actual/360					240					$	3,269,706,504						99.4	%					100.0	%					96.8	%
30/360					2						19,100,000						0.6						0.0						3.2
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

		Amortization Types

Type of Amortization			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Ballon Loans
Partial Interest Only					116					$	1,384,650,000						42.1	%					42.8	%					38.8	%
Interest Only					64						1,301,556,000						39.6						36.5						53.7
Balloon					61						576,707,886						17.5						19.8						7.5
Subtotal					241					$	3,262,913,886						99.2	%					99.0	%					100.0	%
Fully Amortizing Loans
Fully Amortizing					1					$	25,892,618						0.8	%					1.0	%					0.0	%
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

		See ‘‘Description of the Mortgage Pool—Additional Mortgage Loan Information’’ and ‘‘—Certain Terms and Conditions of the Mortgage Loans’’ in this free writing prospectus.

		The following table contains general information regarding the prepayment provisions of the mortgage loans:

		Overview of Prepayment Protection(1)

Prepayment Protection			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Defeasance					205					$	2,889,973,477						87.9	%					87.7	%					88.8	%
Yield Maintenance					26						214,858,369						6.5						5.5						11.2
Yield Maintenance, Defeasance/Yield Maintenance					1						85,000,000						2.6						3.2						0.0
Defeasance, Defeasance/Yield Maintenance					4						37,692,112						1.1						1.4						0.0
Defeasance, Defeasance/Fixed Penalty					3						35,963,123						1.1						1.3						0.0
Yield Maintenance, Fixed Penalty					2						15,569,422						0.5						0.6						0.0
Defeasance, Fixed Penalty					1						9,750,000						0.3						0.4						0.0
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

		(1)	See Annex A-1 to this free writing prospectus for specific criteria applicable to the mortgage loans.

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		Defeasance permits the related borrower to substitute direct non-callable U.S. Treasury obligations or, in certain cases, other government securities for the related mortgaged property as collateral for the related mortgage loan.

		The mortgage loans generally permit voluntary prepayment without payment of a yield maintenance charge or any prepayment premium during a limited ‘‘open period’’ immediately prior to and including the stated maturity date as follows:

		Prepayment Open Periods(1)

Open Periods (Payments)			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
2					10					$	101,900,165						3.1	%					3.7	%					0.5	%
4					199						2,498,166,396						76.0						76.2						74.7
5					7						215,272,000						6.5						8.0						0.0
6					2						10,992,112						0.3						0.4						0.0
7					6						289,571,830						8.8						10.6						0.9
10					15						117,604,000						3.6						0.0						19.7
25					1						13,000,000						0.4						0.5						0.0
37					1						17,600,000						0.5						0.7						0.0
61					1						24,700,000						0.8						0.0						4.1
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

		(1)	See Annex A-1 to this free writing prospectus for specific criteria applicable to the mortgage loans.

		See ‘‘Description of the Mortgage Pool—Additional Mortgage Loan Information’’ and ‘‘—Certain Terms and Conditions of the Mortgage Loans—Defeasance; Collateral Substitution; Property Releases’’ in this free writing prospectus.

		Current Uses of the Mortgaged Properties(1)

Property Type			Number of Mortgaged Properties						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Retail					82					$	955,585,249						29.1	%					35.5	%					0.0	%
Office					57						820,593,053						25.0						30.5						0.0
Hotel					26						427,073,355						13.0						15.9						0.0
Multifamily					40						393,974,536						12.0						0.0						66.1
Industrial					67						316,488,908						9.6						11.8						0.0
Manufactured Housing					23						198,262,000						6.0						0.0						33.3
Mixed Use					12						124,777,209						3.8						4.5						0.6
Self Storage					7						48,402,194						1.5						1.8						0.0
Parking Garage					1						3,650,000						0.1						0.1						0.0
Total:					315					$	3,288,806,504						100.0	%					100.0	%					100.0	%

		(1)	Because this table presents information relating to mortgaged properties and not mortgage loans, the information for mortgage loans secured by more than one mortgaged property is based on allocated loan amounts as stated in Annex A-1.

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		The mortgaged properties are located in 39 states and the District of Columbia. The following tables list the states that have concentrations of mortgaged properties of 5% or more of the aggregate principal balance of the pool of mortgage loans or related loan group, as applicable, as of the cut-off date:

		Geographic Distribution—All Loans(1)

State			Number of Mortgaged Properties						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance
New York					17					$	406,122,000						12.3	%
Texas					31					$	347,221,986						10.6	%
Pennsylvania					24					$	309,672,000						9.4	%
Illinois					20					$	290,341,898						8.8	%
Florida					14					$	279,815,222						8.5	%
California					20					$	225,094,328						6.8	%

		(1)	Because this table presents information relating to mortgaged properties and not mortgage loans, the information for mortgage loans secured by more than one mortgaged property is based on allocated loan amounts as stated in Annex A-1.

		Geographic Distribution—Loan Group 1(1)

State			Number of Mortgaged Properties						Aggregate Principal Balance of Mortgage Loans						% of Loan Group 1 Balance
New York					12					$	337,982,000						12.5	%
Pennsylvania					23					$	305,422,000						11.3	%
Texas					23					$	281,327,164						10.4	%
Florida					13					$	264,615,222						9.8	%
Illinois					5					$	170,395,898						6.3	%
California					17					$	162,264,328						6.0	%

		(1)	Because this table presents information relating to mortgaged properties and not mortgage loans, the information for mortgage loans secured by more than one mortgaged property is based on allocated loan amounts as stated in Annex A-1.

		Geographic Distribution—Loan Group 2(1)

State			Number of Mortgaged Properties						Aggregate Principal Balance of Mortgage Loans						% of Loan Group 2 Balance
Illinois					15					$	119,946,000						20.1	%
New York					5					$	68,140,000						11.4	%
Indiana					8					$	68,108,000						11.4	%
Texas					8					$	65,894,821						11.1	%
California					3					$	62,830,000						10.5	%
New Jersey					1					$	34,846,323						5.8	%

		(1)	Because this table presents information relating to mortgaged properties and not mortgage loans, the information for mortgage loans secured by more than one mortgaged property is based on allocated loan amounts as stated in Annex A-1.

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Additional Aspects of Certificates

Denominations		The offered certificates (other than the Class A-MFL, Class A-JFL, Class X-1 and Class X-2 certificates) will be offered in minimum denominations of $10,000 initial certificate balance. Investments in excess of the minimum denominations may be made in multiples of $1. The Class A-MFL and Class A-JFL certificates will be offered in minimum denominations of $100,000 initial certificate balance. The Class X-1 and Class X-2 certificates will be issued, maintained and transferred only in minimum denominations of authorized initial notional amounts of not less than $1,000,000, and in integral multiples of $1 in excess thereof.

Registration, Clearance and Settlement		Each class of offered certificates will initially be registered in the name of Cede & Co., as nominee of The Depository Trust Company, or DTC.

		You may hold your offered certificates through: (1) DTC in the United States; or (2) Clearstream Banking, société anonyme or Euroclear Bank, as operator of the Euroclear System. Transfers within DTC, Clearstream Banking, société anonyme or Euroclear Bank, as operator of the Euroclear System, will be made in accordance with the usual rules and operating procedures of those systems.

		We may elect to terminate the book-entry system through DTC (with the consent of the DTC participants), Clearstream Banking, société anonyme or Euroclear Bank, as operator of the Euroclear System, with respect to all or any portion of any class of the offered certificates.

		See ‘‘Description of the Certificates—Book-Entry Registration and Definitive Certificates’’ in this free writing prospectus and in the prospectus.

Information Available to Certificateholders		On each distribution date, the paying agent will prepare and make available to each certificateholder of record, initially expected to be Cede & Co., a statement as to the distributions being made on that date. Additionally, under certain circumstances, certificateholders of record may be entitled to certain other information regarding the trust. See ‘‘Description of the Certificates—Reports to Certificateholders; Certain Available Information’’ in this free writing prospectus.

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Deal Information/Analytics		Certain information concerning the mortgage loans and the offered certificates may be available to subscribers through the following services:

		•	Bloomberg, L.P., Trepp, LLC and Intex Solutions, Inc.; and

		•	the paying agent’s website initially located at www.etrustee.net.

Optional Termination		On any distribution date on which the aggregate principal balance of the pool of mortgage loans remaining in the trust fund is less than 1% of the aggregate principal balance of the mortgage loans as of the cut-off date, certain entities specified in this free writing prospectus will have the option to purchase all of the remaining mortgage loans (and all property acquired through exercise of remedies in respect of any mortgage loan) at the price specified in this free writing prospectus. Exercise of this option will terminate the issuing entity and retire the then outstanding certificates. The issuing entity may also be terminated in connection with a voluntary exchange of all the then outstanding certificates (other than the Class R and Class LR certificates), including the Class X-1 and Class X-2 certificates (provided, however, that the offered certificates are no longer outstanding and there is only one holder of the outstanding certificates), for the mortgage loans remaining in the issuing entity.

		See ‘‘Description of the Certificates—Termination; Retirement of Certificates’’ in this free writing prospectus and ‘‘Description of the Certificates —Termination’’ in the prospectus.

Required Repurchases or Substitutions of Mortgage Loans		Under certain circumstances, a mortgage loan seller may be obligated to repurchase an affected mortgage loan from the issuing entity as a result of a material document defect or a material breach of the representations and warranties made by the related mortgage loan seller with respect to the mortgage loan in the related purchase agreement. See ‘‘Description of the Mortgage Pool—Representations and Warranties; Repurchases and Substitutions’’ in this free writing prospectus.

Sale of Defaulted Loans		Pursuant to the pooling and servicing agreement, (i) the holder of the certificates representing the greatest percentage interest in the controlling class, and (ii) the special servicer, in that order, have the option to purchase from the trust any defaulted mortgage loan. Furthermore, the AB subordinate companion loan holders also have a purchase option with respect to the

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		AB mortgage loans, and holders of mezzanine loans may have a purchase option on the related defaulted mortgage loan. See ‘‘Servicing of the Mortgage Loans —Realization Upon Defaulted Mortgage Loans’’ in this free writing prospectus.

Tax Status		Elections will be made to treat designated portions of the trust (exclusive of the Class A-MFL and Class A-JFL regular interests, the swap contracts and the floating rate accounts) as two separate REMICs—a lower-tier REMIC and an upper-tier REMIC—for federal income tax purposes. The portion of the trust representing the Class A-MFL and Class A-JFL regular interests, the related swap contracts and the related floating rate accounts will be treated as a grantor trust for federal income tax purposes, and the Class A-MFL and Class A-JFL certificates will represent undivided beneficial interests in the related portions of the grantor trust. In the opinion of counsel, the portions of the trust referred to above will qualify for this treatment.

		Pertinent federal income tax consequences of an investment in the offered certificates include:

		•	Each class of offered certificates (other than the Class A-MFL and Class A-JFL certificates) and the Class A-MFL and Class A-JFL regular interests will represent ‘‘regular interests’’ in the upper-tier REMIC.

		•	Each regular interest will be treated as a newly originated debt instrument for federal income tax purposes.

		•	You will be required to report income on the regular interest represented by your certificates using the accrual method of accounting.

		•	It is anticipated that the Class X-1, Class X-2 and Class    certificates will be issued with original issue discount, that the Class    certificates will be issued with de minimis amount of original issue discount and that the Class    , Class    , Class    , Class    , Class     and Class    certificates will be issued at premium for federal income tax purposes.

		See ‘‘Certain Federal Income Tax Consequences’’ in this free writing prospectus and in the prospectus.

Certain ERISA Considerations		Subject to important considerations described under ‘‘Certain ERISA Considerations’’ in this free writing prospectus and in the prospectus, the offered certificates are eligible for purchase by persons investing assets of employee benefit plans or individual retirement accounts. In particular, fiduciaries of plans

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		contemplating a purchase of the Class A-MFL or Class A-JFL certificates should review the additional requirements for purchases of Class A-MFL or Class A-JFL certificates by plans, as discussed under ‘‘Certain ERISA Considerations’’ in this free writing prospectus.

Legal Investment		The offered certificates will not constitute ‘‘mortgage related securities’’ for purposes of the Secondary Mortgage Market Enhancement Act of 1984, as amended. If your investment activities are subject to legal investment laws and regulations, regulatory capital requirements, or review by regulatory authorities, then you may be subject to restrictions on investment in the offered certificates. You should consult your own legal advisors for assistance in determining the suitability of and consequences to you of the purchase, ownership and sale of the offered certificates.

		See ‘‘Legal Investment’’ in this free writing prospectus and in the prospectus.

Ratings		The offered certificates will not be issued unless each of the offered classes receives the following ratings from Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.:

			Moody’s			S&P
Class A-1			Aaa			AAA
Class A-2			Aaa			AAA
Class A-3			Aaa			AAA
Class A-4			Aaa			AAA
Class A-SB			Aaa			AAA
Class A-1A			Aaa			AAA
Class X-1			Aaa			AAA
Class X-2			Aaa			AAA
Class A-M			Aaa			AAA
Class A-MFL			Aaa			AAA
Class A-J			Aaa			AAA
Class A-JFL			Aaa			AAA
Class B			Aa2			AA
Class C			Aa3			AA−
Class D			A2			A

		A rating agency may downgrade, qualify or withdraw a security rating at any time. A rating agency not requested to rate the offered certificates may nonetheless issue a rating and, if one does, it may be lower than those stated above. The security ratings do not address the frequency of prepayments (whether voluntary or involuntary) of mortgage loans, the degree

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		to which prepayments might differ from those originally anticipated, the likelihood of collection of default interest or yield maintenance charges, or the tax treatment of the certificates. The ratings of Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., do not address the application of net aggregate prepayment interest shortfalls to the certificates. Also, the security ratings do not represent any assessment of the yield to maturity that investors may experience or the possibility that the Class X-1 and Class X-2 certificateholders might not fully recover their investments in the event of rapid prepayments of the mortgage loans (including both voluntary and involuntary prepayments). In addition, a security rating of the Class A-MFL and Class A-JFL certificates does not represent any assessment as to whether the floating interest rate on such certificates will convert to a fixed rate. With respect to the Class A-MFL and Class A-JFL certificates, Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. are only rating the receipt of interest up to the fixed per annum rate applicable to the Class A-MFL and Class A-JFL regular interests. The ratings of Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., do not address any shortfalls or delays in payment that investors in the Class A-MFL or Class A-JFL certificates may experience as a result of the conversion of the pass-through rate on the Class A-MFL or Class A-JFL certificates from a floating interest rate to a fixed rate. See ‘‘Yield and Maturity Considerations,’’ ‘‘Risk Factors’’ and ‘‘Description of the Certificates—Advances’’ in this free writing prospectus and ‘‘Yield and Maturity Considerations’’ in the prospectus.

		See ‘‘Ratings’’ in this free writing prospectus and ‘‘Rating’’ in the prospectus for a discussion of the basis upon which ratings are given and the conclusions that may not be drawn from a rating.

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Risk Factors

You should carefully consider the following risks before making an investment decision. In particular, distributions on your certificates will depend on payments received on, and other recoveries with respect to the mortgage loans. Therefore, you should carefully consider the risk factors relating to the mortgage loans and the mortgaged properties.

The risks and uncertainties described below are not the only ones relating to your certificates. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair your investment.

If any of the following events or circumstances identified as risks actually occur or materialize, your investment could be materially and adversely affected.

This free writing prospectus also contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks described below and elsewhere in this free writing prospectus.

In connection with the information presented in this free writing prospectus relating to risks that may relate to certain of the mortgage loans or the mortgage loans in general, examples are sometimes given with respect to a particular risk and a particular mortgage loan. However, the fact that examples are given should not be interpreted as meaning that such examples reflect all of the mortgage loans in the trust to which such risk is applicable.

Geographic Concentration Entails Risks

Mortgaged properties located in New York, Texas, Pennsylvania, Illinois, Florida and California secure mortgage loans representing approximately 12.3%, 10.6%, 9.4%, 8.8%, 8.5% and 6.8%, respectively, of the aggregate principal balance of the pool of mortgage loans as of the cut-off date.

Mortgaged properties located in New York, Pennsylvania, Texas, Florida, Illinois and California secure mortgage loans representing approximately 12.5%, 11.3%, 10.4%, 9.8%, 6.3% and 6.0%, respectively, of the aggregate principal balance of the pool of mortgage loans in loan group 1 as of the cut-off date.

Mortgaged properties located in Illinois, New York, Indiana, Texas, California and New Jersey secure mortgage loans representing approximately 20.1%, 11.4%, 11.4%, 11.1%, 10.5% and 5.8%, respectively, of the aggregate principal balance of the pool of mortgage loans in loan group 2 as of the cut-off date.

With respect to the mortgaged properties located in California, 5 mortgaged properties securing mortgage loans representing approximately 1.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date are in northern California (4 mortgaged properties securing mortgage loans in loan group 1 representing approximately 1.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 1 mortgaged property securing a mortgage loan in loan group 2 representing approximately 2.5% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date) and 15 mortgaged properties securing mortgage loans representing approximately 5.4% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date are in southern California (13 mortgaged properties securing mortgage loans representing approximately 4.8% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 2 mortgaged properties securing mortgage loans representing approximately 8.0% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date). For purposes of determining whether a mortgaged property is in northern California or southern California, mortgaged properties located north of San Luis Obispo County, Kern County and San Bernardino County are included in northern California and mortgaged properties located in or south of those counties are included in southern California.

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During the past several years, California’s economy has benefited from a rise in residential home prices, increased investment in technology and software equipment and a strong office leasing market. There can be no assurances, however, that such economic growth will continue. Additionally, rising energy prices, increasing consumer debt and decreasing prices of residential homes could slow the growth of the southern California economy. Further, a weakening of the southern California office leasing market in particular, may adversely affect the related mortgaged properties’ operation and could lessen their market value. Conversely, a strong market could lead to increased building and increased competition for tenants. In either case, there could be an adverse effect on the operation of the mortgaged properties and consequently the amount and timing of distributions on the certificates.

Concentrations of mortgaged properties in geographic areas may increase the risk that adverse economic or other developments or natural disasters affecting a particular region of the country could increase the frequency and severity of losses on mortgage loans secured by those properties. In recent periods, several regions of the United States have experienced significant real estate downturns. Regional economic declines or conditions in regional real estate markets could adversely affect the income from, and market value of, the mortgaged properties. Other regional factors—e.g., earthquakes, floods, forest fires or hurricanes or changes in governmental rules or fiscal policies—also may adversely affect the mortgaged properties. For example, mortgaged properties located in California, Texas or Florida may be more susceptible to certain hazards (such as earthquakes, floods or hurricanes) than mortgaged properties in other parts of the country and mortgaged properties located in coastal states, including, but not limited to, Florida, Louisiana, Alabama and Mississippi, also may be more generally susceptible to hurricanes than properties in other parts of the country. Recent hurricanes in the Gulf Coast region and in Florida have resulted in severe property damage as a result of the winds and the associated flooding. The mortgage loans do not all require flood insurance on the related mortgaged properties. We cannot assure you that any hurricane damage would be covered by insurance. See
’’—Other Risks—Past Hurricanes’’ below, ‘‘Servicing of the Mortgage Loans—Maintenance of Insurance’’ and ‘‘Certain Legal Aspects of the Mortgage Loans’’ in this free writing prospectus and ‘‘Description of the Pooling Agreements—Hazard Insurance Policies’’ in the accompanying prospectus.

Risks Relating to Mortgage Loan Concentrations

The effect of mortgage pool loan losses will be more severe if the losses relate to mortgage loans that account for a disproportionately large percentage of the pool’s aggregate principal balance. In this regard:

	•	The largest mortgage loan (treating as a single mortgage loan all mortgage loans, if any, that are cross-collateralized with each other) represents approximately 6.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (the largest mortgage loan in loan group 1 represents approximately 8.4% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and the largest mortgage loan in loan group 2 represents approximately 6.4% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date).

	•	The 3 largest mortgage loans (treating as a single mortgage loan all mortgage loans, if any, that are cross-collateralized with each other) represent, in the aggregate, approximately 12.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (the 3 largest mortgage loans in loan group 1 represent approximately 15.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and the 3 largest mortgage loans in loan group 2 represent approximately 18.8% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date).

	•	The 10 largest mortgage loans (treating as a single mortgage loan all mortgage loans, if any, that are cross-collateralized with each other) represent, in the aggregate,

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		approximately 23.2% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (the 10 largest mortgage loans in loan group 1 represent approximately 28.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and the 10 largest mortgage loans in loan group 2 represent approximately 52.2% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date).

See ‘‘Description of the Mortgage Pool’’ in this free writing prospectus.

Each of the other mortgage loans represents approximately no more than 1.2% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date. Each of the other mortgage loans in loan group 1 represents approximately no more than 1.4% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date. Each of the other mortgage loans in loan group 2 represents approximately no more than 2.6% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date.

A concentration of mortgaged property types can pose increased risks. A concentration of mortgage loans secured by the same types of mortgaged property can increase the risk that a decline in a particular industry or business would have a disproportionately large impact on the pool of mortgage loans. In that regard, the following table lists the property type concentrations in excess of 5.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date:

Property Type Concentrations Greater Than 5%⁽¹⁾

Property Type			Number of Mortgaged Properties						Aggregate Principal Balance of Mortgaged Properties						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Retail					82					$	955,585,249						29.1	%					35.5	%					0.0	%
Office					57					$	820,593,053						25.0	%					30.5	%					0.0	%
Hotel					26					$	427,073,355						13.0	%					15.9	%					0.0	%
Multifamily					40					$	393,974,536						12.0	%					0.0	%					66.1	%
Industrial					67					$	316,488,908						9.6	%					11.8	%					0.0	%
Manufactured Housing					23					$	198,262,000						6.0	%					0.0	%					33.3	%

(1) Because this table presents information relating to mortgaged properties and not mortgage loans, the information for mortgage loans secured by more than one mortgaged property is based on allocated loan amounts as stated in Annex A-1 to this free writing prospectus.

A concentration of mortgage loans with the same borrower or related borrowers can also impose increased risks.

	•	Twenty-five (25) groups of mortgage loans (comprised of 72 mortgage loans), representing approximately 25.4% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (18 groups of mortgage loans in loan group 1, representing approximately 20.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date, 7 groups of mortgage loans in loan group 2, representing approximately 49.2% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date and principal balance of the pool of mortgage loans as of the cut-off date), have borrowers related to each other, but no group of mortgage loans having borrowers that are related to each other represents more than approximately 3.6% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date. Mortgage loans with related borrowers are identified under ‘‘Related Borrower’’ on Annex A-1 to this free writing prospectus.

	•	Five (5) groups of mortgage loans (comprised of 19 mortgage loans), representing approximately 4.5% of the aggregate principal balance of the pool of mortgage loans as

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		of the cut-off date (1 group of mortgage loans (comprised of 2 mortgage loans), representing approximately 0.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 4 groups of mortgage loans (comprised of 17 mortgage loans), representing approximately 23.2% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), are cross-collateralized and cross-defaulted.

	•	Fifteen (15) mortgage loans, representing approximately 10.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (11 mortgage loans in loan group 1, representing approximately 8.9% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 4 mortgage loans in loan group 2, representing approximately 14.9% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), are secured by more than one mortgaged property.

See ‘‘Description of the Mortgage Pool—Additional Mortgage Loan Information’’ in this free writing prospectus.

Mortgaged properties owned by related borrowers are likely to:

	•	have common management, increasing the risk that financial or other difficulties experienced by the property manager could have a greater impact on the pool of mortgage loans; and

	•	have common general partners or managing members, which could increase the risk that a financial failure or bankruptcy filing would have a greater impact on the pool of mortgage loans.

Risks Relating to Enforceability of Cross-Collateralization

As described above and in Annex A-1 to this free writing prospectus, the mortgage loans in 5 groups of mortgage loans, comprised of 19 mortgage loans representing approximately 4.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (2 mortgage loans in loan group 1, representing approximately 0.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 17 mortgage loans in loan group 2, representing approximately 23.2% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), are cross-collateralized and cross-defaulted with each other. These mortgage loans are indicated on Annex A-1 to this free writing prospectus as Loan Nos. 60, 74, 86, 90, 114, 124, 125, 126, 128, 135, 145, 149, 154, 163, 172, 180, 194, 224 and 225. Cross-collateralization arrangements may be terminated with respect to such mortgage loan groups in certain circumstances under the terms of the related mortgage loan documents. Cross-collateralization arrangements involving more than one borrower could be challenged as fraudulent conveyances by creditors of the related borrower in an action brought outside a bankruptcy case or, if the borrower were to become a debtor in a bankruptcy case, by the borrower’s representative.

A lien granted by a borrower could be avoided if a court were to determine that:

	•	the borrower was insolvent when it granted the lien, was rendered insolvent by the granting of the lien, was left with inadequate capital when it allowed its mortgaged property or properties to be encumbered by a lien securing the entire indebtedness, or was not able to pay its debts as they matured when it granted the lien; and

	•	the borrower did not receive fair consideration or reasonably equivalent value when it allowed its mortgaged property or properties to be encumbered by a lien securing the entire indebtedness.

Among other things, a legal challenge to the granting of the liens may focus on the benefits realized by that borrower from the respective mortgage loan proceeds, as well as the overall cross-collateralization. If a court were to conclude that the granting of the liens was an avoidable fraudulent conveyance, that court could:

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	•	subordinate all or part of the pertinent mortgage loan to existing or future indebtedness of that borrower;

	•	recover payments made under that mortgage loan; or

	•	take other actions detrimental to the holders of the certificates, including, under certain circumstances, invalidating the mortgage loan or the mortgages securing the cross-collateralization.

The Borrower’s Form of Entity May Cause Special Risks

Most of the borrowers are legal entities rather than individuals. Mortgage loans made to legal entities may entail risks of loss greater than those of mortgage loans made to individuals. For example, a legal entity, as opposed to an individual, may be more inclined to seek legal protection from its creditors under the bankruptcy laws. Unlike individuals involved in bankruptcies, most of the entities generally, but not in all cases, do not have personal assets and creditworthiness at stake. The terms of the mortgage loans generally, but not in all cases, require that the borrowers covenant to be single-purpose entities, although in many cases the borrowers are not required to observe all covenants and conditions that typically are required in order for them to be viewed under standard rating agency criteria as ‘‘single-purpose entities.’’ In general, but not in all cases, borrowers’ organizational documents or the terms of the mortgage loans limit their activities to the ownership of only the related mortgaged property or properties and limit the borrowers’ ability to incur additional indebtedness. These provisions are designed to mitigate the possibility that the borrowers’ financial condition would be adversely impacted by factors unrelated to the mortgaged property and the mortgage loan in the pool. However, we cannot assure you that the related borrowers will comply with these requirements. The borrowers with respect to 1 mortgage loan, representing approximately 0.4% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 0.5% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), are not required to be single-purpose entities. See ‘‘Certain Legal Aspects of Mortgage Loans—Bankruptcy Laws’’ in the prospectus. Also, although a borrower may currently be a single purpose entity, in certain cases, that borrower was not originally a single-purpose entity, but at origination of the related mortgage loan its organizational documents were amended. That borrower may also have previously owned property other than the related mortgaged property and may not have observed all covenants that typically are required to consider a borrower a ‘‘single purpose entity.’’ The bankruptcy of a borrower, or a general partner or managing member of a borrower, may impair the ability of the lender to enforce its rights and remedies under the related mortgage. Borrowers that are not single-purpose entities structured to limit the possibility of becoming insolvent or bankrupt, may be more likely to become insolvent or the subject of a voluntary or involuntary bankruptcy proceeding because the borrowers may be:

	•	operating entities with a business distinct from the operation of the mortgaged property with the associated liabilities and risks of operating an ongoing business; or

	•	individuals that have personal liabilities unrelated to the mortgaged property.

However, any borrower, even a single-purpose entity structured to be bankruptcy-remote, as an owner of real estate will be subject to certain potential liabilities and risks. We cannot assure you that any borrower will not file for bankruptcy protection or that creditors of a borrower or a corporate or individual general partner or managing member of a borrower will not initiate a bankruptcy or similar proceeding against the borrower or corporate or individual general partner or managing member.

Furthermore, with respect to any affiliated borrowers, creditors of a common parent in bankruptcy may seek to consolidate the assets of those borrowers with those of the parent. Consolidation of the assets of the borrowers would likely have an adverse effect on the funds available to make distributions on your certificates, and may lead to a downgrade, withdrawal or qualification of the ratings of your certificates. See ‘‘Certain Legal Aspects of Mortgage Loans— Bankruptcy Laws’’ in the prospectus.

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Fourteen (14) mortgage loans (including certain mortgage loans described under ‘‘Description of the Mortgage Pool—Top Fifteen Mortgage Loans’’ in this free writing prospectus), representing approximately 6.2% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (12 mortgage loans in loan group 1, representing approximately 6.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 2 mortgage loan in loan group 2, representing approximately 4.6% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), the related borrowers own the related mortgaged property as tenants-in-common. See ‘‘Description of the Mortgage Pool— Top Fifteen Mortgage Loans’’ in this free writing prospectus. As a result, if a borrower that has not waived its right to partition exercises this right, the related mortgage loan may be subject to prepayment. The bankruptcy, dissolution or action for partition by one or more of the tenants-in-common could result in an early repayment of the related mortgage loan, significant delay in recovery against the tenant-in-common borrowers, particularly if the tenant-in-common borrowers file for bankruptcy separately or in series (because each time a tenant-in-common borrower files for bankruptcy, the bankruptcy court stay will be reinstated), a material impairment in property management and a substantial decrease in the amount recoverable upon the related mortgage loan. Not all tenants-in-common for the mortgage loans are single-purpose entities.

Ability to Incur Other Borrowings Entails Risk

When a borrower (or its constituent members) also has one or more other outstanding loans (even if they are subordinated or mezzanine loans), the trust is subjected to additional risk. The borrower may have difficulty servicing and repaying multiple loans. The existence of another loan will generally also make it more difficult for the borrower to obtain refinancing of its mortgage loan and may thereby jeopardize repayment of the mortgage loan. Moreover, the need to service additional debt may reduce the cash flow available to the borrower to operate and maintain the mortgaged property.

Additionally, if a borrower (or its constituent members) defaults on its mortgage loan and/or any other loan, actions taken by other lenders such as a foreclosure or an involuntary petition for bankruptcy against the borrower could impair the security available to the trust, including the mortgaged property, or stay the trust’s ability to foreclose during the course of the bankruptcy case. The bankruptcy of another lender also may operate to stay foreclosure by the trust. The trust may also be subject to the costs and administrative burdens of involvement in foreclosure or bankruptcy proceedings or related litigation.

In this regard, the mortgage loans generally prohibit borrowers from incurring any additional debt secured by their mortgaged property without the consent of the lender. No investigations, searches or inquiries to determine the existence or status of any subordinate secured financing with respect to any of the mortgaged properties have been made at any time since origination of the related mortgage loan. We cannot assure you that any of the borrowers have complied with the restrictions on indebtedness in the related mortgage loan documents.

As of the cut-off date, the applicable mortgage loan sellers have informed us that they are aware that 5 mortgage loans (referred to in this free writing prospectus as the AB mortgage loans) are each evidenced by the senior of two notes secured by a single mortgage on the related mortgaged property and a single assignment of a lease, with the AB subordinate companion loan not being part of the trust fund. Each AB mortgage loan is secured by one of the mortgaged properties identified on Annex A-1 to this free writing prospectus as Green Hills Corporate Center, ABB Automation, Inc., Cumberland Tech Center, Holiday Inn Express – Temecula, and Veteran’s Parkway, representing approximately 3.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 4.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date). In each case, the senior loan in the related mortgage loan pair is an AB mortgage loan, which is included in the trust. The second loan in each case is an AB subordinate companion loan and is not included in the trust.

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However, the AB subordinate companion loans will be serviced under the pooling and servicing agreement, subject to the related intercreditor agreement.

In addition to the AB mortgage loans, the 599 Lexington Avenue loan (identified as Loan No. 1 on Annex A-1 to this free writing prospectus) representing approximately 6.8% of the aggregate principal balance of the pool of mortgage loans in the trust (approximately 8.4% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), is part of a split loan structure, which is secured by the same mortgage instrument on the related mortgaged property. The first of these mortgage loans, evidenced by promissory note A2, is the 599 Lexington Avenue loan, which is included in the trust. The second of these mortgage loans, evidenced by promissory note A1, is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP10. The third and fourth of these mortgage loans, evidenced by promissory notes A3 and A4, respectively, are included in the trust established in connection with the issuance of the Credit Suisse Commercial Mortgage Trust Series 2007-C2, Commercial Mortgage Pass-Through Certificates, Series 2007-C2. The 599 Lexington Avenue A1 pari passu companion loan, the 599 Lexington Avenue A3 pari passu companion loan and the 599 Lexington Avenue A4 pari passu companion loan (collectively, the 599 Lexington Avenue pari passu companion loans) are pari passu in right of payment with the 599 Lexington Avenue loan and have outstanding principal balances as of the cut-off date of $225,000,000, $150,000,000 and $150,000,000, respectively. See ‘‘Description of the Mortgage Pool—The 599 Lexington Avenue Whole Loan’’ in this free writing prospectus.

In addition to the AB mortgage loans and the 599 Lexington Avenue loan, the AmeriCold Portfolio loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus), representing approximately 1.1% of the aggregate principal balance of the pool of the mortgage loans in the trust (approximately 1.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), is part of a split loan structure that is secured by the same mortgage instrument on the related mortgaged properties. The first of these mortgage loans, evidenced by promissory note A-2C, is the AmeriCold Portfolio loan, which is included in the trust. The second of these mortgage loans, evidenced by promissory note A-2A, is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18, Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC18. The third of these mortgage loans, evidenced by promissory note A-2B, is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP10. The fourth of these mortgage loans, evidenced by promissory note A-1A, is included in the trust established in connection with the issuance of the CD 2007-CD4 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-CD4. The fifth of these mortgage loans, evidenced by promissory note A-1B, is included in the trust established in connection with the issuance of the GE Commercial Mortgage Corporation, Series 2007-C1 Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C1. The AmeriCold Portfolio A-2A pari passu companion loan, the AmeriCold Portfolio A-2B pari passu companion loan, the AmeriCold Portfolio A-1A pari passu companion loan and the AmeriCold Portfolio A-1B pari passu companion loan (collectively, the AmeriCold Portfolio pari passu companion loans) are pari passu in right of payment with the AmeriCold Portfolio loan and have outstanding principal balances as of the cut-off date of $70,000,000, $35,000,000, $180,000,000 and $30,000,000, respectively. See ‘‘Description of the Mortgage Pool—The AmeriCold Portfolio Whole Loan’’ in this free writing prospectus.

The holder of each AB subordinate companion loan will have the right to purchase the related AB mortgage loan under certain limited circumstances. In addition, the holders of certain of the AB subordinate companion loans, the 599 Lexington Avenue majority holders (the holders of a majority of the aggregate outstanding principal balance of the 599 Lexington Avenue whole loan) and the AmeriCold Portfolio directing certificateholder (the directing certificateholder of the CD 2007-CD4 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates,

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Series 2007-CD4, the holder of the AmeriCold Portfolio A-1A pari passu companion loan), will have the right to approve certain modifications to the related loans included in the trust fund under certain circumstances. In exercising the foregoing rights, the holder of the related AB subordinate companion loan, the 599 Lexington Avenue majority holders and the AmeriCold Portfolio directing certificateholder, as applicable, do not have any obligation to consider the interests of, or the impact of such exercise on, the trust fund or the certificates. See ‘‘Description of the Mortgage Pool—Additional Debt—AB Mortgage Loans’’ in this free writing prospectus. The AB subordinate companion loans are generally subordinate in right of payment to the related senior mortgage loans, subject to the terms of the related intercreditor agreement. See ‘‘Description of the Mortgage Pool—Additional Debt—AB Mortgage Loans’’ in this free writing prospectus.

Although the 599 Lexington Avenue pari passu companion loans, the AmeriCold Portfolio pari passu companion loans and each AB subordinate companion loan are not assets of the trust fund, each related borrower is still obligated to make interest and principal payments on these loans. As a result, the trust fund is subject to additional risks, including:

	•	the risk that the necessary maintenance of the related mortgaged property could be deferred to allow the borrower to pay the required debt service on these other obligations and that the value of the mortgaged property may decline as a result; and

	•	the risk that it may be more difficult for the related borrower to refinance the 599 Lexington Avenue loan, the AmeriCold Portfolio loan or the related AB mortgage loan or to sell the mortgaged property for purposes of making any balloon payment on the entire balance of all of the senior obligations, the subordinate obligations or the pari passu obligations, as applicable, upon the maturity of the 599 Lexington Avenue loan, the AmeriCold Portfolio loan or the related AB mortgage loan, as the case may be.

See ‘‘Description of the Mortgage Pool—General,’’ ‘‘—Additional Debt,’’ ‘‘—AB Mortgage Loan Pair,’’ ‘‘—The 599 Lexington Avenue Whole Loan’’ and ‘‘—The AmeriCold Portfolio Whole Loan’’ in this free writing prospectus and ‘‘Certain Legal Aspects of Mortgage Loans— Subordinate Financing’’ in the prospectus.

The borrowers under certain of the mortgage loans have incurred secured subordinate debt.

In the case of 1 mortgage loan (identified as Loan No. 84 on Annex A-1 to this free writing prospectus), representing approximately 0.4% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 0.4% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), the related borrower has incurred two secured loans with original principal balances of $400,000 and $840,000, respectively, both of which are subject to a subordination agreement in favor of the holder of the related senior mortgage loan.

In the case of 1 mortgage loan (identified as Loan No. 109 on Annex A-1 to this free writing prospectus), representing approximately 0.3% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 0.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), the related borrower has incurred one secured loan in the original principal balance of $5,400,000.

As of the cut-off date, the applicable mortgage loan sellers have informed us that they are aware that with respect to 1 mortgage loan (identified as Loan No. 7 on Annex A-1 to this free writing prospectus), representing approximately 1.4% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 1.7% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), the related borrower has a $6,000,000 line of credit with a banking institution; provided however, it has agreed to not allow its outstanding principal balance to exceed $4,000,000 at any one time. This line of credit is subordinated to the mortgage loan under a subordination and standstill agreement executed at the closing of the mortgage loan. See ‘‘Description of the Mortgage Pool— Additional Debt—Unsecured Subordinate Indebtedness’’ in this free writing prospectus. Moreover, in

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general, any borrower that does not meet single-purpose entity criteria may not be restricted from incurring unsecured debt or debt secured by other property of the borrower. See ‘‘Description of the Mortgage Pool—Additional Debt’’ in this free writing prospectus.

Additionally, the terms of certain mortgage loans permit or require the borrowers to post letters of credit and/or surety bonds for the benefit of the related mortgage loan, which may constitute a contingent reimbursement obligation of the related borrower or an affiliate. The issuing bank or surety will not typically agree to subordination and standstill protection benefiting the mortgagee.

The mortgage loan documents generally place certain restrictions on the transfer and/or pledging of general partnership and managing member equity interests in a borrower such as specific percentage or control limitations. The terms of the mortgage loans generally permit, subject to certain limitations, the transfer or pledge of less than a controlling portion of the limited partnership or non-managing member equity or other interests in a borrower. Certain of the mortgage loans do not restrict the pledging of ownership interests in the related borrower, but do restrict the transfer of ownership interests in the related borrower by imposing a specific percentage or control limitation or requiring the consent of the mortgagee to any such transfer (which consent in certain instances would consist of the mortgagee ascertaining that certain specific transfer conditions have been satisfied). Moreover, in general, mortgage loans with borrowers that do not meet single-purpose entity criteria may not restrict in any way the incurrence by the relevant borrower of mezzanine debt. See ‘‘Risk Factors—The Borrower’s Form of Entity May Cause Special Risks’’ in the prospectus. Certain of the mortgage loans permit mezzanine debt, secured by pledges of ownership interests in the borrower, to be incurred in the future subject to criteria set forth in the mortgage loan documents. As of the cut-off date, the applicable mortgage loan sellers have informed us that they are aware of the following existing or specifically permitted mezzanine indebtedness with respect to the mortgage loans:

	•	With respect to 4 mortgage loans (identified as Loan Nos. 4, 9, 12 and 61 on Annex A-1 to this free writing prospectus), representing approximately 4.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (3 mortgage loans in loan group 1, representing approximately 5.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 1 mortgage loan in loan group 2 representing approximately 2.6% of the aggregate principal balance of the pool of mortgage loans in loan group 2), the ownership interests of the direct or indirect owners of the related borrower have been pledged as security for mezzanine debt, subject to the terms of an intercreditor agreement or a subordination and standstill agreement.

	•	With respect to 56 mortgage loans (identified as Loan Nos. 5, 14, 26, 29, 38, 39, 41, 50, 51, 53, 56, 58, 60, 64, 73, 74, 77, 79, 82, 86, 89, 91, 93, 100, 101, 102, 114, 124, 125, 126, 127, 131, 132, 135, 145, 154, 158, 161, 162, 163, 166, 168, 179, 180, 186, 191, 192, 194, 216, 217, 219, 225, 228 and 238 on Annex A-1 to this free writing prospectus), representing approximately 19.3% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (36 mortgage loans in loan group 1, representing approximately 17.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 20 mortgage loans in loan group 2, representing approximately 28.4% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), the direct or indirect owners of the related borrowers are expressly permitted to pledge their ownership interests in the borrowers as collateral for mezzanine debt in the future under certain circumstances.

Mezzanine debt is debt that is incurred by the owner of equity in one or more borrowers and is secured by a pledge of the equity ownership interests in such borrowers. Because mezzanine debt is secured by the obligor’s equity interest in the related borrowers, such financing effectively reduces the obligor’s economic stake in the related mortgaged property. The existence of mezzanine debt may reduce cash flow on the borrower’s mortgaged property after

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the payment of debt service or result in liquidity pressures if the mezzanine debt matures or becomes payable prior to the maturity of the mortgage loan, and may thus increase the likelihood that the owner of a borrower will permit the value or income producing potential of a mortgaged property to fall and may create a greater risk that a borrower will default on the mortgage loan secured by a mortgaged property whose value or income is relatively weak. In addition, the current and any future mezzanine lender may have cure rights with respect to the related mortgage loan and/or an option to purchase the mortgage loan after a default pursuant to an intercreditor agreement.

Generally, upon a default under mezzanine debt, the holder of such mezzanine debt may be entitled to foreclose upon the equity in the related borrower, which has been pledged to secure payment of such mezzanine debt, if permitted pursuant to the terms of the related intercreditor agreement. Although such transfer of equity may not trigger the due on sale clause under the related mortgage loan, it could cause a change of control in the borrower and/or cause the obligor under such mezzanine debt to file for bankruptcy, which could negatively affect the operation of the related mortgaged property and such borrower’s ability to make payments on the related mortgage loan in a timely manner.

In addition, borrowers under certain of the mortgage loans have issued or are permitted to issue preferred equity in such borrowers. See ‘‘Description of the Mortgage Pool—Additional Debt’’ in this free writing prospectus.

Borrower May Be Unable to Repay Remaining Principal Balance on Maturity Date

Mortgage loans with substantial remaining principal balances at their stated maturity, also known as balloon loans, involve greater risk than fully amortizing loans. This is because the borrower may be unable to repay the mortgage loan at that time. In addition, fully amortizing mortgage loans that may pay interest on an ‘‘actual/360’’ basis but have fixed monthly payments may, in effect, have a small balloon payment due at maturity.

A borrower’s ability to repay a mortgage loan on its stated maturity date typically will depend upon its ability either to refinance the mortgage loan or to sell the mortgaged property at a price sufficient to permit repayment. A borrower’s ability to achieve either of these goals will be affected by a number of factors, including:

	•	the availability of, and competition for, credit for commercial real estate projects;

	•	the prevailing interest rates;

	•	the fair market value of the related mortgaged property;

	•	the borrower’s equity in the related mortgaged property;

	•	the borrower’s financial condition;

	•	the operating history and occupancy level of the mortgaged property;

	•	reductions in applicable government assistance/rent subsidy programs;

	•	the tax laws; and

	•	the prevailing general and regional economic conditions.

The applicable mortgage loan sellers have informed us that 241 of the mortgage loans, representing 99.2% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (182 mortgage loans in loan group 1, representing 99.0% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 59 mortgage loans in loan group 2, representing 100.0% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), are expected to have substantial remaining principal balances as of their stated maturity dates, including any mortgage loans that pay interest-only for their entire respective terms. This includes 116 mortgage loans, representing approximately 42.1% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date

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(90 mortgage loans in loan group 1, representing approximately 42.8% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 26 mortgage loans in loan group 2, representing approximately 38.8% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), which pay interest-only for the first 12 to 84 months of their respective terms and 64 mortgage loans, representing approximately 39.6% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (34 mortgage loans in loan group 1, representing approximately 36.5% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 30 mortgage loans in loan group 2, representing approximately 53.7% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), which pay interest-only until their respective maturity dates.

We cannot assure you that each borrower will have the ability to repay the remaining principal balances on the pertinent date.

See ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans’’ in this free writing prospectus and ‘‘Risk Factors—Borrowers May Be Unable to Make Balloon Payments’’ in the prospectus.

The Prospective Performance of the Commercial, Multifamily and Manufactured Housing Community Mortgage Loans Included in the Trust Fund Should Be Evaluated Separately from the Performance of the Mortgage Loans in Any of Our Other Trusts

While there may be certain common factors affecting the performance and value of income-producing real properties in general, those factors do not apply equally to all income-producing real properties and, in many cases, there are unique factors that will affect the performance and/or value of a particular income-producing real property. Moreover, the effect of a given factor on a particular real property will depend on a number of variables, including but not limited to property type, geographic location, competition, sponsorship and other characteristics of the property and the related mortgage loan. Each income-producing real property represents a separate and distinct business venture and, as a result, each of the multifamily, manufactured housing community and commercial mortgage loans included in one of the depositor’s trusts requires a unique underwriting analysis. Furthermore, economic and other conditions affecting real properties, whether worldwide, national, regional or local, vary over time. The performance of a pool of mortgage loans originated and outstanding under a given set of economic conditions may vary significantly from the performance of an otherwise comparable mortgage pool originated and outstanding under a different set of economic conditions. Accordingly, investors should evaluate the mortgage loans underlying the offered certificates independently from the performance of mortgage loans underlying any other series of offered certificates.

As a result of the distinct nature of each pool of commercial mortgage loans, and the separate mortgage loans within the pool, this free writing prospectus does not include disclosure concerning the delinquency and loss experience of static pools of periodic originations by the sponsor of assets of the type to be securitized (known as ‘‘static pool data’’). Because of the highly heterogeneous nature of the assets in commercial mortgage backed securities transactions, static pool data for prior securitized pools, even those involving the same asset types (e.g., hotels or office buildings), may be misleading, since the economics of the properties and terms of the loans may be materially different. In particular, static pool data showing a low level of delinquencies and defaults would not be indicative of the performance of this pool or any other pools of mortgage loans originated by the same sponsor or sponsors. Therefore, investors should evaluate this offering on the basis of the information set forth in this free writing prospectus with respect to the mortgage loans, and not on the basis of any successful performance of other pools of securitized commercial mortgage loans.

Commercial and Multifamily Lending Is Dependent Upon Net Operating Income

The mortgage loans are secured by various income-producing commercial and multifamily properties. Commercial and multifamily lending are generally thought to expose a lender to

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greater risk than residential one-to-four family lending because they typically involve larger mortgage loans to a single borrower or groups of related borrowers.

The repayment of a commercial or multifamily loan is typically dependent upon the ability of the related mortgaged property to produce cash flow through the collection of rents. Even the liquidation value of a commercial property is determined, in substantial part, by the capitalization of the property’s cash flow. However, net operating income can be volatile and may be insufficient to cover debt service on the mortgage loan at any given time.

The net operating incomes and property values of the mortgaged properties may be adversely affected by a large number of factors. Some of these factors relate to the properties themselves, such as:

	•	the age, design and construction quality of the properties;

	•	perceptions regarding the safety, convenience and attractiveness of the properties;

	•	the characteristics of the neighborhood where the property is located;

	•	the proximity and attractiveness of competing properties;

	•	the adequacy of the property’s management and maintenance;

	•	increases in interest rates, real estate taxes and other operating expenses at the mortgaged property and in relation to competing properties;

	•	an increase in the capital expenditures needed to maintain the properties or make improvements;

	•	dependence upon a single tenant, or a concentration of tenants in a particular business or industry;

	•	a decline in the financial condition of a major tenant;

	•	an increase in vacancy rates; and

	•	a decline in rental rates as leases are renewed or entered into with new tenants.

Other factors are more general in nature, such as:

	•	national, regional or local economic conditions, including plant closings, military base closings, industry slowdowns and unemployment rates;

	•	local real estate conditions, such as an oversupply of competing properties, retail space, office space or multifamily housing or hotel capacity;

	•	demographic factors;

	•	consumer confidence;

	•	consumer tastes and preferences;

	•	retroactive changes in building codes;

	•	changes or continued weakness in specific industry segments; and

	•	the public perception of safety for customers and clients.

The volatility of net operating income will be influenced by many of the foregoing factors, as well as by:

	•	the length of tenant leases;

	•	the creditworthiness of tenants;

	•	tenant defaults;

	•	in the case of rental properties, the rate at which new rentals occur; and

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	•	the property’s ‘‘operating leverage’’ which is generally the percentage of total property expenses in relation to revenue, the ratio of fixed operating expenses to those that vary with revenues, and the level of capital expenditures required to maintain the property and to retain or replace tenants.

A decline in the real estate market or in the financial condition of a major tenant will tend to have a more immediate effect on the net operating income of properties with short-term revenue sources, such as short-term or month-to-month leases, and may lead to higher rates of delinquency or defaults.

Tenant Concentration Entails Risk

A deterioration in the financial condition of a tenant can be particularly significant if a mortgaged property is wholly or significantly owner-occupied or leased to a single tenant or if any tenant makes up a significant portion of the rental income. Mortgaged properties that are wholly or significantly owner-occupied or that are leased to a single tenant or those tenants that make up a significant portion of the rental income also are more susceptible to interruptions of cash flow if the owner-occupier’s business operations are negatively impacted or if that single tenant or those tenants fail to renew their leases. This is so because the financial effect of the absence of operating income or rental income may be severe; more time may be required to re-lease the space; and substantial capital costs may be incurred to make the space appropriate for replacement tenants. In this respect, 40 mortgage loans, representing approximately 13.7% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 16.7% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), are secured solely by properties that are wholly or significantly owner-occupied or by properties that are leased to a single tenant or affiliated tenants. With respect to certain of these mortgage loans that are leased to a single tenant, leases at the mortgaged properties will expire prior to, at or soon after the maturity dates of these mortgage loans. Additionally, certain of the mortgaged properties may be leased in whole or in part to an affiliate or affiliates of the related borrower. See ‘‘—Mortgaged Properties Leased to Borrowers or Borrower Affiliated Entities Also Have Risks’’ below. The underwriting of the single-tenant mortgage loans is based primarily upon the monthly rental payments due from the tenant under the lease of the related mortgaged property. Where the primary lease term expires before the scheduled maturity date of the related mortgage loan, the mortgage loan sellers considered the incentives for the primary tenant to re-lease the premises and the anticipated rental value of the premises at the end of the primary lease term or took additional reserves or required letters of credit in connection with the lease expiration. There are a significant number of mortgage loans secured by mortgaged properties with single tenant leases or material leases that expire within a short period of time prior to, at or soon after the maturity dates of those mortgage loans. See Annex A-1 to this free writing prospectus for the lease expiration date of each single tenant loan or the three largest tenants for each other mortgage loan. We cannot assure you that any material or sole tenant will re-lease the premises or that the premises will be relet to another tenant or that the space will be relet at the same rent per square foot during the term of, or at the expiration of, the primary lease term, or that the related mortgaged property will not suffer adverse economic consequences in this regard. Additionally, the underwriting of certain of these mortgage loans leased to single tenants may have taken into account the creditworthiness of the tenants under the related leases and consequently may have higher loan-to-value ratios and lower debt service coverage ratios than other types of mortgage loans.

Retail and office properties also may be adversely affected if there is a concentration of particular tenants among the mortgaged properties or of tenants in a particular business or industry. In this regard, see ‘‘—Retail Properties Have Special Risks’’ and ‘‘—Office Properties Have Special Risks’’ below.

Certain Additional Risks Relating to Tenants

The income from, and market value of, the mortgaged properties leased to various tenants would be adversely affected if:

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	•	space in the mortgaged properties could not be leased or re-leased;

	•	leasing or re-leasing is restricted by exclusive rights of tenants to lease the mortgaged properties or other covenants not to lease space for certain uses or activities, or covenants limiting the types of tenants to which space may be leased;

	•	substantial re-leasing costs were required and/or the cost of performing landlord obligations under existing leases materially increased;

	•	tenants were unwilling or unable to meet their lease obligations;

	•	a significant tenant were to become a debtor in a bankruptcy case;

	•	rental payments could not be collected for any other reason; or

	•	a borrower fails to perform its obligations under a lease resulting in the related tenant having a right to terminate such lease.

Repayment of the mortgage loans secured by retail, office and industrial properties will be affected by the expiration of leases and the ability of the respective borrowers to renew the leases or relet the space on comparable terms and on a timely basis. Certain of the mortgaged properties are and/or may be leased in whole or in part by government-sponsored tenants who have the right to rent reductions or to cancel their leases at any time or for lack of appropriations or for damage to the leased premises caused by casualty or condemnation. Additionally, mortgaged properties may have concentrations of leases expiring at varying rates in varying percentages including single-tenant mortgaged properties, during the term of the related mortgage loans.

Certain of the mortgaged properties may have tenants that sublet a portion of their space or may intend to sublet out a portion of their space in the future. In addition, with respect to certain of these spaces that are sublet, the rents with respect to the related mortgage loan may have been underwritten at the amount of rent paid by the direct tenant even if the rent being paid by the sublessee is lower.

The mortgaged properties related to many of the mortgage loans will experience substantial (50% of gross leaseable area or more) lease rollover prior to the maturity date, and in many cases relatively near, or soon after, the maturity dates of the mortgage loans. With respect to the mortgage loans described above and certain other mortgage loans in the trust fund, many of the related loan documents require tenant improvement and leasing commission reserves (including trapping excess cash flow after notice of lease termination), and in many cases, the leases contain lessee extension options extending the term of such leases for a specified term. However, there can be no assurance that any such extension options will be exercised or that the amount of any such reserves will be adequate to mitigate the lack of rental income associated with these rollovers. Also, certain of the mortgaged properties may be subject to tenant termination rights prior to the maturity date of the related mortgage loan.

In addition, certain properties may have tenants that are paying rent but are not in occupancy or may have vacant space that is not leased. Any ‘‘dark’’ space may cause the property to be less desirable to other potential tenants or the related tenant may be more likely to default in its obligations under the lease. We cannot assure you that those tenants will continue to fulfill their lease obligations or that the space will be relet. Additionally, certain tenants may have a right to a rent abatement or the right to cancel their lease if certain major tenants at the mortgaged property vacate or go dark.

Even if vacated space is successfully relet, the costs associated with reletting, including tenant improvements and leasing commissions, could be substantial and could reduce cash flow from the mortgaged properties. Moreover, if a tenant defaults in its obligations to a borrower, the borrower may incur substantial costs and experience significant delays associated with enforcing its rights and protecting its investment, including costs incurred in renovating and reletting the related mortgaged property.

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Additionally, in certain jurisdictions, if tenant leases are subordinated to the liens created by the mortgage but do not contain attornment provisions (provisions requiring the tenant to recognize as landlord under the lease a successor owner following foreclosure), the leases may terminate upon the transfer of the property to a foreclosing lender or purchaser at foreclosure. Accordingly, if a mortgaged property is located in such a jurisdiction and is leased to one or more desirable tenants under leases that are subordinate to the mortgage and do not contain attornment provisions, such mortgaged property could experience a further decline in value if such tenants’ leases were terminated.

With respect to certain of the mortgage loans, the related borrower has given to certain tenants or others an option to purchase, a right of first refusal and/or a right of first offer to purchase all or a portion of the mortgaged property in the event a sale is contemplated, and such right may not be subordinate to the related mortgage. This may impede the mortgagee’s ability to sell the related mortgaged property at foreclosure, or, upon foreclosure, this may affect the value and/or marketability of the related mortgaged property. Additionally, the exercise of a purchase option may result in the related mortgage loan being prepaid during a period when voluntary prepayments are otherwise prohibited. See ‘‘—Risks Relating to Prepayments and Repurchases’’ below and ‘‘Description of the Mortgage Pool—Top Fifteen Mortgage Loans’’ in this free writing prospectus.

Substitution of Mortgaged Properties May Lead to Increased Risks

With respect to 5 mortgage loans (identified as Loan Nos. 5, 16, 57, 70 and 204 on Annex A-1 to this free writing prospectus), representing 3.9% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 4.8% of the aggregate principal balance of the mortgage loans in loan group 1 mortgage loans) the related borrower is permitted to substitute a property of like kind and quality or substantially similar use for the mortgaged property currently securing the related mortgage loan. As a result, it is possible that the mortgaged property that secures such mortgage loan as of the cut-off date may not secure the related mortgage loan for its entire term. Any substitution will require the borrower to meet certain conditions, which may include debt service coverage tests and/or property value tests, and the related borrower will be required to obtain written confirmation from the rating agencies that any ratings of the certificates will not, as a result of the proposed substitution, be downgraded, qualified or withdrawn and provide an opinion of counsel (or a private letter ruling from the Internal Revenue Service) that the REMIC status of the trust fund will not be adversely impacted by the proposed substitution. Nevertheless, the replacement property may differ from the substituted property with respect to certain characteristics. See ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans— Defeasance; Collateral Substitution; Property Releases’’ in this free writing prospectus.

Risks Related to Redevelopment and Renovation at the Mortgaged Properties

Certain of the mortgaged properties are properties that are currently undergoing or are expected to undergo in the future redevelopment or renovation. There can be no assurance that current or planned redevelopment or renovation will be completed, that such redevelopment or renovation will be completed in the time frame contemplated, or that, when and if redevelopment or renovation is completed, such redevelopment or renovation will improve the operations at, or increase the value of, the subject property. Failure of any of the foregoing to occur could have a material negative impact on the related mortgage loan, which could affect the ability of the related borrower to repay the related mortgage loan.

In the event the related borrower fails to pay the costs of work completed or material delivered in connection with such ongoing redevelopment or renovation, the portion of the mortgaged property on which there are renovations may be subject to mechanic’s or materialmen’s liens that may be senior to the lien of the related mortgage loan.

The existence of construction or renovation at a mortgaged property may make such mortgaged property less attractive to tenants or their customers, and accordingly could have a negative effect on net operating income.

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If the special servicer forecloses on behalf of the trust on a mortgaged property that is being redeveloped or renovated, pursuant to the REMIC provisions, the special servicer will only be permitted to arrange for completion of the redevelopment or renovation if at least 10% of the costs of construction were incurred at the time the default on the related mortgage loan became imminent. As a result, the trust fund may not realize as much proceeds upon disposition of a foreclosure property as it would if it were permitted to complete construction.

Mortgaged Properties Leased to Borrowers or Borrower Affiliated Entities Also Have Risks

If a mortgaged property is leased in whole or substantial part to the borrower under the mortgage loan or to an affiliate of the borrower, there may be conflicts. For instance, it is more likely a landlord will waive lease conditions for an affiliated tenant than it would for an unaffiliated tenant. We cannot assure you that the conflicts arising where a borrower is affiliated with a tenant at a mortgaged property will not adversely impact the value of the related mortgage loan. In some cases this affiliated lessee is physically occupying space related to its business; in other cases, the affiliated lessee is a tenant under a master lease with the borrower, under which the tenant is obligated to make rent payments but does not occupy any space at the mortgaged property. These master leases are typically used to bring occupancy to a ‘‘stabilized’’ level but may not provide additional economic support for the mortgage loan. We cannot assure you the space ‘‘leased’’ by a borrower affiliate will eventually be occupied by third party tenants and consequently, a deterioration in the financial condition of the borrower or its affiliates can be particularly significant to the borrower’s ability to perform under the mortgage loan as it can directly interrupt the cash flow from the mortgaged property if the borrower’s or its affiliate’s financial condition worsens. These risks may be mitigated when mortgaged properties are leased to unrelated third parties. For example, the borrower or an affiliate of the borrower entered into a lease at the mortgaged properties securing the mortgage loan identified on Annex A-1 to this free writing prospectus as Loan No. 3.

Tenant Bankruptcy Entails Risks

The bankruptcy or insolvency of a major tenant, or a number of smaller tenants, in retail, office and industrial properties may adversely affect the income produced by a mortgaged property. Under the federal bankruptcy code a tenant has the option of assuming or rejecting any unexpired lease. If the tenant rejects the lease, the landlord’s claim for breach of the lease would be a general unsecured claim against the tenant (absent collateral securing the claim). The claim would be limited to the unpaid rent reserved under the lease for the periods prior to the bankruptcy petition (or earlier surrender of the leased premises) that are unrelated to the rejection, plus the greater of one year’s rent or 15% of the remaining reserved rent (but not more than three years’ rent).

Mortgage Loans Are Nonrecourse and Are Not Insured or Guaranteed

The mortgage loans are not insured or guaranteed by any person or entity, governmental or otherwise.

Investors should treat each mortgage loan as a nonrecourse loan. If a default occurs, recourse generally may be had only against the specific properties and other assets that have been pledged to secure the mortgage loan. Consequently, payment prior to maturity is dependent primarily on the sufficiency of the net operating income of the mortgaged property. Payment at maturity is primarily dependent upon the market value of the mortgaged property or the borrower’s ability to refinance the mortgaged property for an amount sufficient to repay the mortgage loan.

Retail Properties Have Special Risks

Retail properties secure 76 mortgage loans representing approximately 29.1% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 35.5% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date).

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The quality and success of a retail property’s tenants significantly affect the property’s market value and the related borrower’s ability to refinance such property. For example, if the sales revenues of retail tenants were to decline, rents tied to a percentage of gross sales revenues may decline and those tenants may be unable to pay their rent or other occupancy costs.

The presence or absence of an ‘‘anchor tenant’’ or a ‘‘shadow anchor’’ in or near a shopping center also can be important because anchors play a key role in generating customer traffic and making a shopping center desirable for other tenants. An ‘‘anchor tenant’’ is usually proportionately larger in size than most other tenants in the mortgaged property, is vital in attracting customers to a retail property and is located on or adjacent to the related mortgaged property. A ‘‘shadow anchor’’ is usually proportionally larger in size than most tenants in the mortgaged property, is important in attracting customers to a retail property and is located sufficiently close and convenient to the mortgaged property, but not on the mortgaged property, so as to influence and attract potential customers. The economic performance of an anchored or shadow anchored retail property will consequently be adversely affected by:

	•	an anchor tenant’s or shadow anchor tenant’s failure to renew its lease;

	•	termination of an anchor tenant’s or shadow anchor tenant’s lease; or if the anchor tenant or shadow anchor tenant owns its own site, a decision to vacate;

	•	the bankruptcy or economic decline of an anchor tenant, shadow anchor or self-owned anchor; or

	•	the cessation of the business of an anchor tenant, a shadow anchor tenant or of a self-owned anchor (notwithstanding its continued payment of rent).

Fifty-three (53) of the mortgaged properties, securing mortgage loans representing approximately 23.6% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 28.8% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), are retail properties that are considered by the applicable mortgage loan seller to have an ‘‘anchor tenant.’’ 6 of the mortgaged properties, securing mortgage loans representing approximately 1.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 1.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), are retail properties that are considered by the applicable mortgage loan seller to be ‘‘shadow anchored.’’ Twenty-three (23) of the mortgaged properties, securing mortgage loans representing approximately 4.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 5.5% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), are retail properties that are considered by the applicable mortgage loan seller to be ‘‘unanchored.’’

If anchor stores in a mortgaged property were to close, the related borrower may be unable to replace those anchors in a timely manner or without suffering adverse economic consequences. Certain of the tenants or anchor stores of the retail properties may have co-tenancy clauses and/or operating covenants in their leases or operating agreements that permit those tenants or anchor stores to cease operating under certain conditions, including, without limitation, certain other stores not being open for business at the mortgaged property or a subject store not meeting the minimum sales requirement under its lease, thereby leaving its space unoccupied even though it continues to own or pay rent on the vacant or dark space. In addition, in the event that an ‘‘anchor’’ or a ‘‘shadow anchor’’ fails to renew its lease, terminates its lease or otherwise ceases to conduct business within a close proximity to the mortgaged property, customer traffic at the mortgaged property may be substantially reduced. We cannot assure you that such space would be occupied or that the related mortgaged property would not suffer adverse economic consequences if any anchor tenant failed to renew its lease. In this regard, see ‘‘—Tenant Bankruptcy Entails Risks’’ and ‘‘—Certain Additional Risks Relating to Tenants’’ above.

Retail properties also face competition from sources outside a given real estate market. For example, all of the following compete with more traditional retail properties for consumer

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dollars: factory outlet centers; discount shopping centers and clubs; catalogue retailers; home shopping networks; internet websites; and telemarketing. Continued growth of these alternative retail markets (which often have lower operating costs) could adversely affect the rents collectible at the retail properties included in the pool of mortgage loans, as well as the income from, and market value of, the mortgaged properties and the related borrower’s ability to refinance such property.

Certain of the retail properties (including the mortgaged property securing the mortgage loan identified as Loan No. 2 on Annex A-1 to this free writing prospectus, representing approximately 3.3% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 4.1% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date)), have a movie theater as part of the mortgaged property. These types of retail properties are exposed to certain unique risks. Aspects of building site design and adaptability affect the value of a movie theater. In addition, decreasing attendance at a movie theater could adversely affect revenue of the movie theater, which may, in turn, cause the tenant to experience financial difficulties. See
’’ —Tenant Bankruptcy Entails Risks’’ above.

Certain of the retail properties have health clubs as part of the mortgaged property. Several factors may adversely affect the value and successful operation of a health club, including:

	•	the physical attributes of the health club (e.g., its age, appearance and layout);

	•	the reputation, safety, convenience and attractiveness of the property to users;

	•	the quality and philosophy of management;

	•	management’s ability to control membership growth and attrition;

	•	competition in the tenant’s marketplace from other health clubs and alternatives to health clubs; or

	•	adverse changes in economic and social conditions and demographic changes (e.g., population decreases or changes in average age or income), which may result in decreased demand.

In addition, there may be significant costs associated with changing consumer preferences (e.g., multi-purpose clubs from single purpose clubs or varieties of equipment, classes, services and amenities). In addition, health clubs may not be readily convertible to alternative uses if those properties were to become unprofitable for any reason. The liquidation value of any such health club consequently may be less than would be the case if the property were readily adaptable to changing consumer preferences for other uses.

Office Properties Have Special Risks

Office properties secure 47 mortgage loans representing approximately 25.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 30.5% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date).

A large number of factors may adversely affect the value of office properties, including:

	•	the quality of an office building’s tenants;

	•	an economic decline in the business operated by the tenants;

	•	the physical attributes of the building in relation to competing buildings (e.g., age, condition, design, appearance, location, access to transportation and ability to offer certain amenities, such as sophisticated building systems and/or business wiring requirements);

	•	the physical attributes of the building with respect to the technological needs of the tenants, including the adaptability of the building to changes in the technological needs of the tenants;

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	•	the diversity of an office building’s tenants (or reliance on a single or dominant tenant);

	•	the desirability of the area as a business location;

	•	the strength and nature of the local economy, including labor costs and quality, tax environment and quality of life for employees;

	•	an adverse change in population, patterns of telecommuting or sharing of office space, and employment growth (all of which affect the demand for office space); and

	•	in the case of medical office properties, the performance of a medical office property may depend on (i) the proximity of such property to a hospital or other health care establishment and (ii) reimbursements for patient fees from private or government-sponsored insurers. Issues related to reimbursement (ranging from non-payment to delays in payment) from such insurers could adversely impact cash flow at such mortgaged property.

Moreover, the cost of refitting office space for a new tenant is often higher than the cost of refitting other types of properties for new tenants. See ‘‘—Risks Relating to Mortgage Loan Concentrations’’ above.

Multifamily Properties Have Special Risks

Multifamily properties secure 36 mortgage loans representing approximately 12.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (representing approximately 66.1% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date). A large number of factors may adversely affect the value and successful operation of a multifamily property, including:

	•	the physical attributes of the apartment building such as its age, condition, design, appearance, access to transportation and construction quality;

	•	the location of the property, for example, if there is a change in the neighborhood over time;

	•	the ability of management to provide adequate maintenance and insurance;

	•	the types of services or amenities that the property provides;

	•	the property’s reputation;

	•	the level of mortgage interest rates, which may encourage tenants to purchase rather than lease housing;

	•	the presence of competing properties;

	•	the tenant mix, such as the tenant population being predominantly students or being heavily dependent on workers from a particular business or personnel from a local military base;

	•	in the case of student housing facilities (2 mortgaged properties securing the mortgage loans identified as Loan Nos. 33 and 162 on Annex A-1 to this free writing prospectus, representing approximately 0.9% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 5.1% of the aggregate principal balance of the mortgage loans in group 2 as of the cut-off date)), which may be more susceptible to damage or wear and tear than other types of multifamily housing, the reliance on the financial well-being of the college or university to which it relates, competition from on-campus housing units, which may adversely affect occupancy, the physical layout of the housing, which may not be readily convertible to traditional multifamily use, and that student tenants have a higher turnover rate than other types of multifamily tenants, which in certain cases is compounded by the fact that student leases are available for periods of less than 12 months;

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	•	dependence upon governmental programs that provide rent subsidies to tenants pursuant to tenant voucher programs, which vouchers may be used at other properties and influence tenant mobility;

	•	adverse local or national economic conditions, which may limit the amount of rent that may be charged and may result in a reduction of timely rent payments or a reduction in occupancy levels;

	•	state and local regulations, which may affect the building owner’s ability to increase rent to market rent for an equivalent apartment; and

	•	government assistance/rent subsidy programs.

Certain states regulate the relationship of an owner and its tenants. Commonly, these laws require a written lease, good cause for eviction, disclosure of fees, and notification to residents of changed land use, while prohibiting unreasonable rules, retaliatory evictions, and restrictions on a resident’s choice of unit vendors. Apartment building owners have been the subject of suits under state ‘‘Unfair and Deceptive Practices Acts’’ and other general consumer protection statutes for coercive, abusive or unconscionable leasing and sales practices. A few states offer more significant protection. For example, there are provisions that limit the bases on which a landlord may terminate a tenancy or increase its rent or prohibit a landlord from terminating a tenancy solely by reason of the sale of the owner’s building.

In addition to state regulation of the landlord-tenant relationship, numerous counties and municipalities impose rent control on apartment buildings. These ordinances may limit rent increases to fixed percentages, to percentages of increases in the consumer price index, to increases set or approved by a governmental agency, or to increases determined through mediation or binding arbitration. Any limitations on a borrower’s ability to raise property rents may impair such borrower’s ability to repay its multifamily loan from its net operating income or the proceeds of a sale or refinancing of the related multifamily property.

Multifamily properties located in certain areas of the United States have experienced increased occupancy levels as a result of relocations related to hurricanes Katrina, Rita and Wilma. However, there can be no assurance that such increased occupancy levels will continue as the areas affected by the hurricanes in the Southeastern United States become habitable. See ‘‘—Other Risks—Past Hurricanes’’ in this free writing prospectus.

Certain of the mortgage loans are secured or may be secured in the future by mortgaged properties that are subject to certain affordable housing covenants in respect of various units within the mortgaged properties.

Hotel Properties Have Special Risks

Hotel properties secure 25 of the mortgage loans representing approximately 13.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 15.9% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date).

Various factors may adversely affect the economic performance of a hotel, including:

	•	adverse economic and social conditions, either local, regional or national (which may limit the amount that can be charged for a room and reduce occupancy levels);

	•	the construction of competing hotels or resorts;

	•	continuing expenditures for modernizing, refurbishing and maintaining existing facilities prior to the expiration of their anticipated useful lives;

	•	a deterioration in the financial strength or managerial capabilities of the owner and operator of a hotel; and

	•	changes in travel patterns caused by changes in access, energy prices, strikes, relocation of highways, the construction of additional highways, concerns about travel safety or other factors.

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Because hotel rooms generally are rented for short periods of time, the financial performance of hotels tends to be affected by adverse economic conditions and competition more quickly than other commercial properties. Additionally, terrorist attacks in September 2001 and the potential for future terrorist attacks may have adversely affected and may continue to so affect the occupancy rates, and accordingly, the financial performance of hotel properties. See ‘‘Risk Factors—Risks to the Mortgaged Properties Relating to Terrorist Attacks and Foreign Conflicts’’ in the prospectus.

Moreover, the hotel and lodging industry is generally seasonal in nature and different seasons affect different hotels depending on type and location. This seasonality can be expected to cause periodic fluctuations in a hotel property’s room and restaurant revenues, occupancy levels, room rates and operating expenses.

Limited-service hotels may subject a lender to more risk than full-service hotels as they generally require less capital for construction than full-service hotels. In addition, as limited-service hotels generally offer fewer amenities than full-service hotels, they are less distinguishable from each other. As a result, it is easier for limited-service hotels to experience increased or unforeseen competition.

The liquor licenses for most of the hotel mortgaged properties are held by affiliates of the borrowers, unaffiliated managers or operating lessees. The laws and regulations relating to liquor licenses generally prohibit the transfer of such licenses to any person. In the event of a foreclosure of a hotel property that holds a liquor license, the trustee or a purchaser in a foreclosure sale would likely have to apply for a new license, which might not be granted or might be granted only after a delay that could be significant. There can be no assurance that a new license could be obtained promptly or at all. The lack of a liquor license in a full-service hotel could have an adverse impact on the revenue from the related mortgaged property or on the hotel’s occupancy rate.

Risks Relating to Affiliation with a Franchise or Hotel Management Company

Twenty (20) of the hotel properties that secure mortgage loans representing approximately 11.2% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 13.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date) are affiliated with a franchise or hotel management company through a franchise or management agreement. The performance of a hotel property affiliated with a franchise or hotel management company depends in part on:

	•	the continued existence and financial strength of the franchise or hotel management company;

	•	the public perception of the franchise or hotel chain service mark; and/or

	•	the duration of the franchise licensing or management agreements.

The continuation of a franchise agreement or management agreement is subject to specified operating standards and other terms and conditions set forth in such agreements. The failure of a borrower to maintain such standards or adhere to other applicable terms and conditions could result in the loss or cancellation of their rights under the franchise agreement or management agreement. There can be no assurance that a replacement franchise could be obtained in the event of termination. In addition, replacement franchises may require significantly higher fees as well as the investment of capital to bring the hotel into compliance with the requirements of the replacement franchisor. Any provision in a franchise agreement or management agreement providing for termination because of a bankruptcy of a franchisor or manager generally will not be enforceable.

The transferability of franchise license agreements is restricted. In the event of a foreclosure, the lender or its agent would not have the right to use the franchise license without the franchisor’s consent. Conversely, in the case of certain mortgage loans, the lender may be unable to remove a franchisor or a hotel management company that it desires to replace following a foreclosure.

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Industrial Properties Have Special Risks

Industrial properties secure 21 of the mortgage loans representing approximately 9.6% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 11.8% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date). Significant factors determining the value of industrial properties are:

	•	the quality of tenants;

	•	reduced demand for industrial space because of a decline in a particular industry segment;

	•	the property becoming functionally obsolete;

	•	building design and adaptability;

	•	unavailability of labor sources;

	•	changes in access, energy prices, strikes, relocation of highways, the construction of additional highways or other factors;

	•	changes in proximity of supply sources;

	•	the expenses of converting a previously adapted space to general use; and

	•	the location of the property.

Concerns about the quality of tenants, particularly major tenants, are similar in both office properties and industrial properties, although industrial properties may be more frequently dependent on a single or a few tenants.

Industrial properties may be adversely affected by reduced demand for industrial space occasioned by a decline in a particular industry segment (for example, a decline in defense spending), and a particular industrial or warehouse property that suited the needs of its original tenant may be difficult to relet to another tenant or may become functionally obsolete relative to newer properties. In addition, lease terms with respect to industrial properties are generally for shorter periods of time and may result in a substantial percentage of leases expiring in the same year at any particular industrial property. In addition, mortgaged properties used for many industrial purposes are more prone to environmental concerns than other property types.

Aspects of building site design and adaptability affect the value of an industrial property. Site characteristics that are generally desirable to a warehouse/industrial property include high clear ceiling heights, wide column spacing, a large number of bays (loading docks) and large bay depths, divisibility, a layout that can accommodate large truck minimum turning radii and overall functionality and accessibility.

In addition, because of unique construction requirements of many industrial properties, any vacant industrial property space may not be easily converted to other uses. Thus, if the operation of any of the industrial properties becomes unprofitable due to competition, age of the improvements or other factors such that the borrower becomes unable to meet its obligations on the related mortgage loan, the liquidation value of that industrial property may be substantially less, relative to the amount owing on the related mortgage loan, than would be the case if the industrial property were readily adaptable to other uses.

Location is also important because an industrial property requires the availability of labor sources, proximity to supply sources and customers and accessibility to rail lines, major roadways and other distribution channels.

Risks Associated With Refrigerated Distribution Warehouse Facilities.    With respect to 1 mortgage loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus), representing approximately 1.1% of the aggregate principal of the pool of mortgage loans as of the cut-off date (approximately 1.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), the related mortgaged properties consist of refrigerated

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distribution/warehouse facilities (‘‘cold storage facilities’’). Significant factors determining the value of such cold storage facilities are the quality and mix of tenants, building design and the location of the property. Since tenants frequently incur transportation costs that are significantly greater than warehousing costs, location is a major factor. A cold storage facility requires the availability of labor sources, proximity to supply sources and customers and accessibility to rail lines, major roadways and other distribution channels. In certain locations, tenants depend upon shipping products in pooled shipments with products of other tenants going to the same markets. In these cases, the mix of tenants in a cold storage facility can significantly influence the cost of delivering products to markets.

Cold storage facilities are often located near or adjacent to tenants’ processing facilities and in such cases, a majority of and, in some cases, the entire property is devoted to the use of a single tenant or a small number of major tenants commodities. An interruption or reduction in the business received by such properties from such tenants or a reduction in demand for such commodities could result in a decrease in the sales and overall profitability at cold storage facilities. Cold storage facilities may be adversely affected by reduced demand for cold storage space occasioned by a decline in a particular industry segment, and a particular facility that suited the needs of its original tenant may be difficult to relet to another tenant or may become functionally obsolete relative to newer properties.

Aspects of building site design and adaptability affect the value of a cold storage facility. Site characteristics that are valuable to such a property include high clear heights, wide column spacing, a large number of bays and large bay depths, divisibility, large minimum truck turning radii and overall functionality and accessibility.

Warehousing sales can be seasonal, depending on the timing and availability of crops grown for frozen food production and the seasonal build-up of certain products for holiday consumption, and this seasonality can be expected to cause periodic fluctuations in a cold storage facility’s revenues and operating expenses.

Manufactured Housing Community Properties Have Special Risks

Manufactured housing community properties secure 22 mortgage loans representing approximately 6.0% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (representing 33.3% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date).

Mortgage loans secured by liens on manufactured housing community properties pose risks not associated with mortgage loans secured by liens on other types of income-producing real estate. The successful operation of a manufactured housing community property may depend upon the number of other competing residential developments in the local market, such as:

	•	other manufactured housing community properties;

	•	apartment buildings; and

	•	site-built single family homes.

Other factors may also include:

	•	the physical attributes of the community, including its age and appearance;

	•	location of the manufactured housing community property;

	•	the ability of management to provide adequate maintenance and insurance;

	•	the types of services or amenities it provides;

	•	the property’s reputation; and

	•	state and local regulations, including rent control and rent stabilization.

The manufactured housing community properties are ‘‘special purpose’’ properties that could not be readily converted to general residential, retail or office use. Thus, if the operation of any

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of the manufactured housing community properties becomes unprofitable due to competition, age of the improvements or other factors such that the borrower becomes unable to meet its obligations on the related mortgage loan, the liquidation value of that manufactured housing community property may be substantially less, relative to the amount owing on the related mortgage loan, than would be the case if the manufactured housing community property were readily adaptable to other uses.

Some manufactured housing community properties are either recreational vehicle resorts or have a significant portion of the properties that are intended for short-term recreational vehicle hook-ups, and tenancy of these communities may vary significantly by season. This seasonality may cause periodic fluctuations in revenues, tenancy levels, rental rates and operating expenses for these properties.

Self Storage Properties Have Special Risks

Self storage properties secure 5 mortgage loans, representing approximately 1.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 1.8% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date).

The self storage facilities market contains low barriers to entry. In addition, due to the short-term nature of self storage leases, self storage properties also may be subject to more volatility in terms of supply and demand than loans secured by other types of properties.

Because of the construction utilized in connection with certain self storage facilities, it might be difficult or costly to convert such a facility to an alternative use. Thus, liquidation value of self storage properties may be substantially less than would be the case if the same were readily adaptable to other uses.

In addition, it is difficult to assess the environmental risks posed by such facilities due to tenant privacy, anonymity and unsupervised access to such facilities. Therefore, such facilities may pose additional environmental risks to investors. The environmental site assessments discussed in this free writing prospectus did not include an inspection of the contents of the self storage units included in the self storage properties. We therefore cannot provide assurance that all of the units included in the self storage properties are free from hazardous substances or other pollutants or contaminants, or that they will remain so in the future.

Risks Relating to Certain Assistance Programs

Three (3) of the mortgaged properties, securing 2 mortgage loans, representing approximately 1.2% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 6.8% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), are eligible (or may become eligible in the future) for and have received low-income or affordable housing tax credits or other similar governmental benefits pursuant to certain governmental programs such as Section 42 of the Internal Revenue Code in respect of various units within the mortgaged property or have a material concentration of tenants that rely on rent subsidies under various government funded programs, including the Section 8 Tenant Based Assistance Rental Certificate Program of the United States Department of Housing and Urban Development. Certain of the mortgage loans are secured by, or may be secured in the future by, mortgaged properties that are subject to certain affordable housing covenants, in respect of various units within such mortgaged properties. With respect to certain of the mortgage loans, the borrowers or investors in such borrowers may receive tax abatements, subsidies or other assistance from government programs. Generally, the related mortgaged property must satisfy certain requirements, the borrower must observe certain leasing practices and/or the tenant(s) must regularly meet certain income requirements or the borrower or mortgaged property must have certain other characteristics consistent with the government policy related to the applicable program. We can give you no assurance that any government or

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other assistance programs will be continued in their present form during the terms of the related mortgage loans, that the borrower will continue to comply with the requirements of the programs to enable the borrower to receive the subsidies or assistance in the future, or for the investors in such borrower to continue to receive their tax benefits, or that the level of assistance provided will be sufficient to generate enough revenues for the related borrower to meet its obligations under the related mortgage loans. The related mortgage loan seller may have underwritten the related mortgage loan on the assumption that such assistance will continue. Loss of any applicable assistance could have an adverse effect on the ability of the related borrowers to make timely payments of debt service. In addition, the restrictions described above relating to the use of the related mortgaged property could reduce the market value of the related mortgaged property.

Lack of Skillful Property Management Entails Risks

The successful operation of a real estate project depends upon the property manager’s performance and viability. The property manager is responsible for:

	•	responding to changes in the local market;

	•	planning and implementing the rental structure;

	•	operating the property and providing building services;

	•	managing operating expenses; and

	•	assuring that maintenance and capital improvements are carried out in a timely fashion.

Properties deriving revenues primarily from short-term sources, such as short-term or month-to-month leases, are generally more management intensive than properties leased to creditworthy tenants under long-term leases.

We make no representation or warranty as to the skills of any present or future managers. In many cases, the property manager is the borrower or an affiliate of the borrower and may not manage properties for non-affiliates. Additionally, we cannot assure you that the property managers will be in a financial condition to fulfill their management responsibilities throughout the terms of their respective management agreements.

Some Mortgaged Properties May Not Be Readily Convertible to Alternative Uses

Some of the mortgaged properties securing the mortgage loans included in the trust fund may not be readily convertible (or convertible at all) to alternative uses if those properties were to become unprofitable. For example, mortgaged properties that are part of a condominium regime may not be readily convertible due to use and other restrictive covenants imposed by the condominium declaration and other related documents, especially in a situation where such mortgaged property does not represent the entire condominium regime.

Additionally, any vacant movie theater space would not easily be converted to other uses due to the unique construction requirements of movie theaters. In addition, converting commercial properties to alternate uses generally requires substantial capital expenditures and could result in a significant adverse effect on, or interruption of, the revenues generated by such mortgaged properties. Furthermore, certain mortgaged properties may be subject to certain use restrictions and/or low-income housing restrictions in order to remain eligible for low-income housing tax credits or governmental subsidized rental payments that could prevent the conversion of the mortgaged property to alternative uses. The liquidation value of any mortgaged property, subject to limitations of the kind described above or other limitations on convertibility of use, may be substantially less than would be the case if the mortgaged property were readily adaptable to other uses.

Zoning or other restrictions may also prevent alternative uses. See ‘‘—Zoning Compliance and Use Restrictions May Adversely Affect Property Value’’ below. See also ‘‘—Industrial Properties

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Have Special Risks’’, ‘‘—Self Storage Properties Have Special Risks’’ and ‘‘—Manufactured Housing Community Properties Have Special Risks’’ above.

Condominium Ownership May Limit Use and Improvements

With respect to certain of the mortgage loans, the related mortgaged property consists of the related borrower’s interest in commercial condominium interests in buildings and/or other improvements, and related interests in the common areas and the related voting rights in the condominium association. Such interests may in some cases constitute less than a majority of such voting rights. The board of managers of the condominium generally has discretion to make decisions affecting the condominium and there can be no assurance that the borrower under a mortgage loan secured by one or more interests in that condominium will have any control over decisions made by the related board of managers. Thus, decisions made by that board of managers, including regarding assessments to be paid by the unit owners, insurance to be maintained on the condominium and many other decisions affecting the maintenance of that condominium, may have a significant impact on the mortgage loans in the trust fund that are secured by mortgaged properties consisting of such condominium interests. There can be no assurance that the related board of managers will always act in the best interests of the borrower under the related mortgage loans. Further, due to the nature of condominiums, a default on the part of the borrower with respect to such mortgaged properties will not allow the special servicer the same flexibility in realizing on the collateral as is generally available with respect to commercial properties that are not condominiums. The rights of other unit owners, the documents governing the management of the condominium units and the state and local laws applicable to condominium units must be considered. In addition, in the event of a casualty with respect to the subject mortgaged property, due to the possible existence of multiple loss payees on any insurance policy covering such mortgaged property, there could be a delay in the allocation of related insurance proceeds, if any. Consequently, servicing and realizing upon the collateral described above could subject the certificateholders to a greater delay, expense and risk than with respect to a mortgage loan secured by a commercial property that is not a condominium.

Mortgage Loans Secured by Leasehold Interests May Expose Investors to Greater Risks of Default and Loss

Four (4) mortgaged properties, securing mortgage loans representing approximately 1.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (representing approximately 1.8% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date) consist of a leasehold interest in the related mortgaged property, but not on any corresponding fee interest. In addition, 3 mortgaged properties, securing mortgage loans representing approximately 2.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (2 mortgaged properties securing 2 mortgage loans in loan group 1 representing approximately 2.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 1 mortgaged property securing 1 mortgage loan in loan group 2 representing approximately 3.6% of the aggregate principal balance of the pool of mortgage loans in loan group 2 as of the cut-off date), consist of both a fee parcel and a leasehold interest in a separate adjacent parcel. In addition, 1 mortgaged property securing 1 mortgage loan (identified as Loan No. 6 on Annex A-1 to this free writing prospectus), representing approximately 1.6% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 1.9% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), consists of a fee estate and a subleasehold estate in the entire related mortgaged property, but not on the corresponding leasehold estate in such property.

Leasehold mortgage loans are subject to certain risks not associated with mortgage loans secured by a lien on the fee estate of the borrower. The most significant of these risks is that if the related borrower’s leasehold were to be terminated upon a lease default, the lender would

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lose its security in the leasehold interest. Generally, each related ground lease requires the lessor to give the lender notice of the borrower’s defaults under the ground lease and an opportunity to cure them, permits the leasehold interest to be assigned to the lender or the purchaser at a foreclosure sale, in some cases only upon the consent of the lessor, and contains certain other protective provisions typically included in a ‘‘mortgageable’’ ground lease.

Upon the bankruptcy of a lessor or a lessee under a ground lease, the debtor has the right to assume or reject the lease. If a debtor lessor rejects the lease, the lessee has the right to remain in possession of its leased premises for the rent otherwise payable under the lease for the term of the ground lease (including renewals). If a debtor lessee/borrower rejects the lease, the leasehold lender could succeed to the lessee/borrower’s position under the lease only if the lessor specifically grants the lender such right. If both the lessor and the lessee/borrower are involved in bankruptcy proceedings, the bankrupt lessee/borrower’s right to refuse to treat a ground lease rejected by a bankrupt lessor as terminated may not be enforceable. In such circumstances, a ground lease could be terminated notwithstanding lender protection provisions contained in the ground lease or in the mortgage.

Some of the ground leases securing the mortgaged properties may provide that the ground rent payable under the related ground lease increases during the term of the mortgage loan. These increases may adversely affect the cash flow and net income of the related borrower.

Further, in a decision by the United States Court of Appeals for the Seventh Circuit (Precision Indus. v. Qualitech Steel SBQ, LLC, 327 F.3d 537 (7th Cir. 2003)), the court ruled with respect to an unrecorded lease of real property that where a statutory sale of the fee interest in leased property occurs under Section 363(f) of the Bankruptcy Code (11 U.S.C. Section 363(f)) upon the bankruptcy of a landlord, such sale terminates a lessee’s possessory interest in the property, and the purchaser assumes title free and clear of any interest, including any leasehold estates. Pursuant to Section 363(e) of the Bankruptcy Code (11 U.S.C. Section 363(e)), a lessee may request the bankruptcy court to prohibit or condition the statutory sale of the property so as to provide adequate protection of the leasehold interest; however, the court ruled that this provision does not ensure continued possession of the property, but rather entitles the lessee to compensation for the value of its leasehold interest, typically from the sale proceeds. While there are certain circumstances under which a ‘‘free and clear’’ sale under Section 363(f) of the Bankruptcy Code would not be authorized (including that the lessee could not be compelled in a legal or equitable proceeding to accept a monetary satisfaction of his possessory interest, and that none of the other conditions of Section 363(f)(1)(4) of the Bankruptcy Code otherwise permits the sale), we cannot provide assurances that those circumstances would be present in any proposed sale of a leased premises. As a result, we cannot provide assurances that, in the event of a statutory sale of leased property pursuant to Section 363(f) of the Bankruptcy Code, the lessee may be able to maintain possession of the property under the ground lease. In addition, we cannot assure you that the lessee and/or the lender (to the extent it can obtain standing to intervene) will be able to recoup the full value of the leasehold interest in bankruptcy court.

See ‘‘Certain Legal Aspects of Mortgage Loans—Foreclosure—Leasehold Risks’’ and ‘‘Certain Legal Aspects of Mortgage Loans—Bankruptcy Laws’’ in the prospectus.

Limitations of Appraisals

Appraisals were obtained with respect to each of the mortgaged properties at or about the time of the origination or acquisition of the applicable mortgage loan. In general, appraisals represent the analysis and opinion of qualified appraisers, but appraisals are not guarantees of present or future value. One appraiser may reach a different conclusion than the conclusion that would be reached if a different appraiser were appraising that property. Moreover, the values of the mortgaged properties may have fluctuated significantly since the appraisals were performed. Moreover, appraisals seek to establish the amount a typically motivated buyer would pay a typically motivated seller and, in certain cases, may have taken into consideration the purchase price paid by the borrower. That amount could be significantly higher than the amount obtained

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from the sale of a mortgaged property under a distress or liquidation sale. In certain cases, appraisals may reflect both ‘‘as-stabilized’’ and ‘‘as-is’’ values although the appraised value reflected in this free writing prospectus with respect to the related mortgaged property may reflect only the ‘‘as-stabilized’’ value. In certain cases, appraisals may reflect ‘‘as-stabilized’’ values reflecting certain assumptions, such as future construction completion, projected re-tenanting or increased tenant occupancies. For example, with respect to 28 mortgage loans (identified as Loan Nos. 2, 6, 8, 9, 11, 22, 27, 29, 31, 34, 41, 42, 51, 55, 61, 78, 79, 83, 92, 105, 106, 110, 122, 127, 130, 186, 189 and 228 on Annex A-1 to this free writing prospectus), representing approximately 18.9% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (25 mortgage loans in loan group 1 representing approximately 21.5% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 3 mortgage loans in loan group 2 representing approximately 7.2% of the aggregate principal balance of the mortgage loans as of the cut-off date), the appraised value represented is the ‘‘as-stabilized’’ value. In some cases, the related appraisal may value the property on a portfolio basis, which may result in a higher value than the aggregate value that would result from a separate individual appraisal on each mortgaged property. We cannot assure you that the information set forth in this free writing prospectus regarding appraised values or loan-to-value ratios accurately reflects past, present or future market values of the mortgaged properties. Any engineering report, site inspection or appraisal represents only the analysis of the individual consultant, engineer or inspector preparing such report at the time of such report, and may not reveal all necessary or desirable repairs, maintenance and capital improvement items.

Risks Relating to Underwritten Net Cash Flow

As described under ‘‘Description of the Mortgage Pool—Additional Mortgage Loan Information’’ in this free writing prospectus, underwritten net cash flow means cash flow (including any cash flow from master leases) as adjusted based on a number of assumptions used by the mortgage loan sellers. No representation is made that the underwritten net cash flow set forth in this free writing prospectus as of the cut-off date or any other date represents future net cash flows. Each investor should review these assumptions and make its own determination of the appropriate assumptions to be used in determining underwritten net cash flow. In many cases, co-tenancy provisions were assumed to be satisfied and vacant space was assumed to be occupied and space that was due to expire was assumed to have been re-let, in each case at market rates that may have exceeded current rent.

In addition, the debt service coverage ratios set forth in this free writing prospectus for the mortgage loans and the mortgaged properties vary, and may vary substantially, from the debt service coverage ratios for the mortgage loans and the mortgaged properties as calculated pursuant to the definition of such ratios as set forth in the related mortgage loan documents.

Potential Conflicts of Interest

The pooling and servicing agreement provides that the mortgage loans are required to be administered in accordance with the servicing standards without regard to ownership of any certificate by a servicer or any of its affiliates. See ‘‘Servicing of the Mortgage Loans—General’’ in this free writing prospectus.

Notwithstanding the foregoing, the master servicers, the special servicer or any of their respective affiliates may have interests when dealing with the mortgage loans that are in conflict with those of holders of the offered certificates, especially if a master servicer, the special servicer or any of their respective affiliates holds Series 2007-CIBC19 non-offered certificates, or has financial interests in or other financial dealings with a borrower under any of the mortgage loans. Each of these relationships may create a conflict of interest. For instance, the special servicer or its affiliate that holds Series 2007-CIBC19 non-offered certificates might seek to reduce the potential for losses allocable to those certificates from a troubled mortgage loan by deferring acceleration in hope of maximizing future proceeds. However, that action could result in less

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proceeds to the trust than would be realized if earlier action had been taken. In general, no servicer is required to act in a manner more favorable to the offered certificates or any particular class of offered certificates than to the Series 2007-CIBC19 non-offered certificates. See ‘‘—Special Servicer May Be Directed to Take Actions’’ below.

Each servicer services and will, in the future, service, in the ordinary course of its business, existing and new mortgage loans for third parties, including portfolios of mortgage loans similar to the mortgage loans that will be included in the trust. The real properties securing these other mortgage loans may be in the same markets as, and compete with, certain of the mortgaged properties securing the mortgage loans that will be included in the trust. Consequently, personnel of any of the servicers may perform services, on behalf of the trust, with respect to the mortgage loans at the same time as they are performing services, on behalf of other persons, with respect to other mortgage loans secured by properties that compete with the mortgaged properties securing the mortgage loans. This may pose inherent conflicts for the master servicers or the special servicer.

Conflicts may arise because a mortgage loan seller and its affiliates intend to continue to actively acquire, develop, operate, finance and dispose of real estate-related assets in the ordinary course of their businesses. During the course of their business activities, the respective mortgage loan sellers and their affiliates may acquire, sell or lease properties, or finance loans secured by properties, which may include the mortgaged properties securing the pooled mortgage loans or properties that are in the same markets as those mortgaged properties. In addition, certain of the mortgage loans included in the trust may have been refinancings of debt previously held by a mortgage loan seller or an affiliate of a mortgage loan seller and the mortgage loan sellers or their respective affiliates may have or have had equity investments in the borrowers or mortgaged properties under certain of the mortgage loans included in the trust. Each of the mortgage loan sellers and their affiliates have made and/or may make loans to, or equity investments in, affiliates of the borrowers under the mortgage loans. In the circumstances described above, the interests of those mortgage loan sellers and their affiliates may differ from, and compete with, the interests of the trust fund. In the circumstances described above, the interests of the applicable mortgage loan sellers and their affiliates may differ from, and compete with, the interests of the trust fund. Additional financial interests in, or other financial dealings with, a borrower or its affiliates under any of the mortgage loans may create conflicts of interest.

Each mortgage loan seller is obligated to repurchase or substitute for a mortgage loan sold by it under the circumstances described under ‘‘Description of the Mortgage Pool— Representations and Warranties; Repurchases and Substitutions’’ in this free writing prospectus.

JPMorgan Chase Bank, National Association is one of the mortgage loan sellers and the swap counterparty and is an affiliate of each of J.P. Morgan Chase Commercial Mortgage Securities Corp., the depositor, and J.P. Morgan Securities Inc., one of the underwriters.

CIBC Inc. is one of the mortgage loan sellers and is an affiliate of CIBC World Markets Corp., one of the underwriters.

Each of the foregoing relationships should be considered carefully by prospective investors.

The managers of the mortgaged properties and the borrowers may experience conflicts of interest in the management and/or ownership of the mortgaged properties because:

	•	a substantial number of the mortgaged properties are managed by property managers affiliated with the respective borrowers;

	•	these property managers also may manage and/or franchise additional properties, including properties that may compete with the mortgaged properties; and

	•	affiliates of the managers and/or the borrowers, or the managers and/or the borrowers themselves, also may own other properties, including competing properties.

Five (5) mortgage loans (identified as Loan Nos. 4, 23, 87, 96 and 123 on Annex A-1 to this free writing prospectus), representing approximately 3.8% of the aggregate principal balance of

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the pool of mortgage loans as of the cut-off date (approximately 4.6% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date) are each evidenced by one of two notes secured by a single mortgage and a single assignment of leases. The AB subordinate companion loan, in each case, will not be included as an asset of the trust fund. However, each AB subordinate companion loan will be serviced under the pooling and servicing agreement, subject to the related intercreditor agreement. Each holder of an AB subordinate companion loan will also have certain rights with respect to the related AB mortgage loan, which is an asset of the trust fund, including the right, under certain conditions, to consent to, or provide advice with respect to, various modifications and waivers or other matters affecting the related AB mortgage loan and certain actions and amendments to the loan documents proposed by the special servicer with respect to the related mortgaged property or with respect to the purchase of the related AB mortgage loan if the AB mortgage loan is in default. See ‘‘Description of the Mortgage Pool—AB Mortgage Loan Pairs’’ in this free writing prospectus. In exercising such rights, no holder of any AB subordinate companion loan has any obligation to consider the interests of, or impact of the exercise of such rights upon, the trust or the certificateholders.

The 599 Lexington Avenue pari passu companion loans will not be included as assets of the trust fund, but are being serviced under the 2007-LDP10 pooling and servicing agreement, subject to the 599 Lexington Avenue intercreditor agreement. The 599 Lexington Avenue majority holders have certain rights with respect to the 599 Lexington Avenue whole loan and the related mortgaged property, including the right, under certain conditions, to advise and direct the 599 Lexington Avenue master servicer and/or the 599 Lexington Avenue special servicer with respect to various servicing matters or mortgage loan modifications affecting each of the mortgage loans in the related split loan structure, including the 599 Lexington Avenue loan. In exercising such rights, the 599 Lexington Avenue majority holders do not have any obligation to consider the interests of, or impact on, the trust or the holders of the certificates.

In addition, the AmeriCold Portfolio pari passu companion loans will not be included as assets of the trust fund, but are being serviced under the 2007-CIBC18 pooling and servicing agreement, subject to the AmeriCold Portfolio intercreditor agreement. The AmeriCold Portfolio directing certificateholder has certain rights with respect to the AmeriCold Portfolio whole loan, including the right, under certain conditions, to direct and/or consent with respect to certain actions with respect to the mortgaged properties proposed by the AmeriCold Portfolio special servicer. In exercising such rights, the AmeriCold Portfolio directing certificateholder does not have any obligation to consider the interests of, or impact on, the trust or the holders of the certificates.

Special Servicer May Be Directed to Take Actions

In connection with the servicing of the specially serviced mortgage loans, the special servicer may, at the direction of the directing certificateholder (or, with respect to any AB Mortgage Loan, in certain circumstances the holder of a related AB subordinate companion loan), take actions with respect to the specially serviced mortgage loans that could adversely affect the holders of some or all of the classes of offered certificates. The directing certificateholder will be controlled by the controlling class certificateholders. The directing certificateholder or the holder of an AB subordinate companion loan may have interests in conflict with those of the certificateholders of the classes of the offered certificates. As a result, it is possible that the directing certificateholder or the holder of an AB subordinate companion loan may direct the special servicer to take actions that conflict with the interests of certain classes of the offered certificates. However, the special servicer is not permitted to take actions that are prohibited by law or violate the servicing standards or the terms of the mortgage loan documents. In addition, the special servicer may be removed without cause by the directing certificateholder as described in this free writing prospectus. See ‘‘Description of the Mortgage Pool—AB Mortgage Loan Pairs,’’ ‘‘Servicing of the Mortgage Loans—General’’ and ‘‘Transaction Parties—The Special Servicer’’ in this free writing prospectus.

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In addition, the 599 Lexington Avenue special servicer under the 2007-LDP10 pooling and servicing agreement may, at the direction of the 599 Lexington Avenue majority holders, take actions with respect to the 599 Lexington Avenue loan that could adversely affect the holders of some or all of the classes of the offered certificates. See ‘‘Servicing of the Mortgage Loans—The Directing Certificateholder’’ in this free writing prospectus. The 599 Lexington Avenue majority holders will exercise their rights in accordance with the 2007-LDP10 pooling and servicing agreement pursuant to which the 599 Lexington Avenue loan and the 599 Lexington Avenue pari passu companion loans are being serviced. Each of the 599 Lexington Avenue majority holders and the holders of the 599 Lexington Avenue pari passu companion loans may have interests in conflict with those of the certificateholders of the classes of the offered certificates. As a result, it is possible that the 599 Lexington Avenue majority holders or the holders of the 599 Lexington Avenue pari passu companion loans may direct the 599 Lexington Avenue special servicer to take actions that conflict with the interests of certain classes of the offered certificates. However, the 599 Lexington Avenue special servicer is not permitted to take actions that are prohibited by law or violate the servicing standards or breach the terms of the related mortgage loan documents. In addition, the 599 Lexington Avenue special servicer may be removed without cause by the 599 Lexington Avenue majority holders as described in this free writing prospectus. See ‘‘Servicing of the Mortgage Loans—General,’’ ‘‘—The Directing Certificateholder’’ and ‘‘Transaction Parties— The Special Servicer’’ in this free writing prospectus.

In addition, the AmeriCold Portfolio special servicer under the 2007-CIBC18 pooling and servicing agreement may, at the direction of the AmeriCold Portfolio directing certificateholder, take actions with respect to the AmeriCold Portfolio loan that could adversely affect the holders of some or all of the classes of offered certificates. See ‘‘Servicing of the Mortgage Loans—The Directing Certificateholder’’ in this free writing prospectus. The AmeriCold Portfolio directing certificateholder will exercise its rights in accordance with the 2007-CIBC18 pooling and servicing agreement pursuant to which the AmeriCold Portfolio loan and the AmeriCold Portfolio pari passu companion loans are being serviced. The AmeriCold Portfolio directing certificateholder may have interests in conflict with those of the certificateholders of the classes of offered certificates. As a result, it is possible that the AmeriCold Portfolio directing certificateholder may direct the AmeriCold Portfolio special servicer to take actions that conflict with the interests of certain classes of the offered certificates. However, the AmeriCold Portfolio special servicer is not permitted to take actions that are prohibited by law or violate the servicing standards or breach the terms of the related mortgage loan documents. In addition, the AmeriCold Portfolio special servicer may be removed without cause by the AmeriCold Portfolio directing certificateholder as described in this free writing prospectus. See ‘‘Servicing of the Mortgage Loans—General,’’ ‘‘—Directing Certificateholder’’ and ‘‘Transaction Parties—The Special Servicer’’ in this free writing prospectus.

Bankruptcy Proceedings Entail Certain Risks

Under federal bankruptcy law, the filing of a petition in bankruptcy by or against a borrower will stay the sale of the mortgaged property owned by that borrower, as well as the commencement or continuation of a foreclosure action. In addition, even if a court determines that the value of the mortgaged property is less than the principal balance of the mortgage loan it secures, the court may prevent a lender from foreclosing on the mortgaged property (subject to certain protections available to the lender). As part of a restructuring plan, a court also may reduce the amount of secured indebtedness to the then-current value of the mortgaged property, which would make the lender a general unsecured creditor for the difference between the then-current value and the amount of its outstanding mortgage indebtedness. A bankruptcy court also may: (1) grant a debtor a reasonable time to cure a payment default on a mortgage loan; (2) reduce periodic payments due under a mortgage loan; (3) change the rate of interest due on a mortgage loan; or (4) otherwise alter the mortgage loan’s repayment schedule.

Moreover, the filing of a petition in bankruptcy by, or on behalf of, a junior lienholder may stay the senior lienholder from taking action to foreclose on the junior lien. Additionally, the

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borrower’s trustee or the borrower, as debtor-in-possession, has certain special powers to avoid, subordinate or disallow debts. In certain circumstances, the claims of the trustee may be subordinated to financing obtained by a debtor-in-possession subsequent to its bankruptcy.

Under federal bankruptcy law, the lender will be stayed from enforcing a borrower’s assignment of rents and leases. Federal bankruptcy law also may interfere with the master servicer’s or the special servicer’s ability to enforce lockbox requirements. The legal proceedings necessary to resolve these issues can be time consuming and costly and may significantly delay or diminish the receipt of rents. Rents also may escape an assignment to the extent they are used by the borrower to maintain the mortgaged property or for other court authorized expenses.

Additionally, pursuant to subordination agreements for certain of the mortgage loans, the subordinate lenders may have agreed that they will not take any direct actions with respect to the related subordinated debt, including any actions relating to the bankruptcy of the borrower, and that the holder of the mortgage loan will have all rights to direct all such actions. There can be no assurance that in the event of the borrower’s bankruptcy, a court will enforce such restrictions against a subordinated lender.

In its decision in In re 203 North LaSalle Street Partnership, 246 B.R. 325 (Bankr. N.D. Ill. March 10, 2000), the United States Bankruptcy Court for the Northern District of Illinois refused to enforce a provision of a subordination agreement that allowed a first mortgagee to vote a second mortgagee’s claim with respect to a Chapter 11 reorganization plan on the grounds that prebankruptcy contracts cannot override rights expressly provided by the Bankruptcy Code. This holding, which at least one court has already followed, potentially limits the ability of a senior lender to accept or reject a reorganization plan or to control the enforcement of remedies against a common borrower over a subordinated lender’s objections.

As a result of the foregoing, the trust’s recovery with respect to borrowers in bankruptcy proceedings may be significantly delayed, and the aggregate amount ultimately collected may be substantially less than the amount owed.

Certain of the mortgage loans may have sponsors that have previously filed for bankruptcy protection for themselves or their affiliates, which in some cases may have involved the same property which currently secures the mortgage loan. In each case, the related sponsor has emerged, or is in the process of emerging, from bankruptcy. For example, a principal of the borrower under 4 mortgage loans (identified as Loan Nos. 9, 17, 91 and 151 on Annex A-1 to this free writing prospectus), representing approximately 2.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (3 mortgage loans in loan group 1 representing approximately 3.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and 1 mortgage loan in loan group 2 representing approximately 1.1% of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), was involved in bankruptcy filings in the last 10 years. We cannot assure you that such sponsors will not be more likely than other sponsors to utilize their rights in bankruptcy in the event of any threatened action by the mortgagee to enforce its rights under the related loan documents.

Risks Relating to Prepayments and Repurchases

The yield to maturity on your certificates will depend, in significant part, upon the rate and timing of principal payments on the mortgage loans. For this purpose, principal payments include both voluntary prepayments, if permitted, and involuntary prepayments, such as prepayments resulting from casualty or condemnation, defaults and liquidations or repurchases upon breaches of representations and warranties.

In addition, because the amount of principal that will be distributed to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A certificates will generally be based upon the particular loan group in which the related mortgage loan is deemed to be a part, the yield on the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB certificates will be particularly sensitive to prepayments on mortgage loans in loan group 1 and the yield on the Class A-1A certificates will be particularly sensitive to prepayments on mortgage loans in loan group 2.

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The yield on each of the classes of certificates with a pass-through rate equal to, limited by, or based on, the weighted average net mortgage rate of the mortgage loans could (or in the case of any class of certificates with a pass-through rate equal to, or based on, the weighted average of the net mortgage rate of the mortgage loans, would) be adversely affected if mortgage loans with higher interest rates pay faster than the mortgage loans with lower interest rates. The pass-through rates on those classes of certificates may be adversely affected as a result of a decrease in the weighted average of the net mortgage rates on the mortgage loans even if principal prepayments do not occur. See ‘‘Yield and Maturity Considerations’’ in this free writing prospectus.

The Class X-1 and Class X-2 certificates will not be entitled to distributions of principal but instead will accrue interest on their notional amounts. Because the notional amounts of the Class X-1 and Class X-2 certificates are based upon the outstanding certificate balances (or portions thereof) of the other certificates (other than the Class A-MFL, Class A-JFL, Class R and Class LR certificates) and the Class A-MFL and Class A-JFL regular interests, the yield to maturity on the Class X-1 and Class X-2 certificates will be extremely sensitive to the rate and timing of prepayments of principal, liquidations and principal losses on the mortgage loans. Also, a rapid rate of principal prepayments, liquidations and/or principal losses on the mortgage loans could result in the failure to recoup the initial investment in the Class X-1 and Class X-2 certificates. Investors in the Class X-1 and Class X-2 certificates should fully consider the associated risks, including the risk that an extremely rapid rate of amortization, prepayment or other liquidation of the mortgage loans could result in the failure of such investors to recoup fully their initial investments.

The investment performance of your certificates may vary materially and adversely from your expectations if the actual rate of prepayment on the mortgage loans is higher or lower than you anticipate.

Any changes in the weighted average lives of your certificates may adversely affect your yield. Prepayments resulting in a shortening of weighted average lives of your certificates may be made at a time of low interest rates when you may be unable to reinvest the resulting payment of principal on your certificates at a rate comparable to the effective yield anticipated by you in making your investment in the certificates, while delays and extensions resulting in a lengthening of those weighted average lives may occur at a time of high interest rates when you may have been able to reinvest principal payments that would otherwise have been received by you at higher rates.

Although the mortgage loans (other than the mortgage loan identified as Loan No. 3 on Annex A-1 to this free writing prospectus representing approximately 2.6% of the aggregate principal balance of the mortgage loans as of the cut-off date (approximately 3.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date)) have prepayment protection in the form of lockout periods with defeasance provisions or with yield maintenance or prepayment premium provisions, we cannot assure you that the related borrowers will refrain from prepaying their mortgage loans due to the existence of yield maintenance charges or prepayment premiums or that involuntary prepayments will not occur.

Voluntary prepayments, if permitted, generally require the payment of a yield maintenance charge or a prepayment premium unless the mortgage loan is prepaid within a 3-month period prior to the stated maturity date. However, certain of the mortgage loans permit voluntary prepayment without payment of a yield maintenance charge at any time or without payment of a yield maintenance charge or prepayment premium for a longer open period of up to 60 months. See ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Prepayment Provisions’’ in this free writing prospectus for an overview of the open periods. See ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Prepayment Provisions’’ in this free writing prospectus. In any case, we cannot assure you that the related borrowers will refrain from prepaying their mortgage loans due to the existence of yield maintenance charges or prepayment premiums or that involuntary prepayments will not occur.

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The rate at which voluntary prepayments occur on the mortgage loans will be affected by a variety of factors, including:

	•	the terms of the mortgage loans;

	•	the length of any prepayment lockout period;

	•	the level of prevailing interest rates;

	•	the availability of mortgage credit;

	•	the applicable yield maintenance charges and prepayment premiums;

	•	a master servicer’s or the special servicer’s ability to enforce those charges or premiums;

	•	the failure to meet certain requirements for the release of escrows;

	•	the occurrence of casualties or natural disasters; and

	•	economic, demographic, tax, legal or other factors.

Generally, no yield maintenance charge or prepayment premium will be required for prepayments in connection with a casualty or condemnation unless, in the case of some of the mortgage loans, an event of default has occurred and is continuing. We cannot assure you that the obligation to pay any yield maintenance charge or prepayment premium will be enforceable. See ‘‘Risk Factors—Risks Relating to Enforceability of Yield Maintenance Charges, Prepayment Premiums or Defeasance Provisions’’ in the prospectus. In addition, certain of the mortgage loans permit the related borrower, after a partial casualty or partial condemnation, to prepay the remaining principal balance of the mortgage loan (after application of the related insurance proceeds or condemnation award to pay the principal balance of the mortgage loan), which may in certain cases not be accompanied by any prepayment consideration, provided that the prepayment of the remaining balance is made within a specified period of time following the date of the application of proceeds or award.

Certain shortfalls in interest as a result of involuntary prepayments may reduce the available distribution amount. In addition, if a mortgage loan seller repurchases any mortgage loan from the trust due to breaches of representations or warranties, the repurchase price paid will be passed through to the holders of the certificates with the same effect as if the mortgage loan had been prepaid in part or in full, and no yield maintenance charge or prepayment premium will be payable. Mezzanine lenders and holders of AB subordinate companion loans may have the option to purchase the related mortgage loan in the trust after certain defaults, and the purchase price may not include any yield maintenance payments or prepayment charges. In addition, certain of the mortgage loans are secured by mortgaged properties that have tenants or a master lessee that have an option to purchase the mortgaged property. Generally, such options are subject to and subordinate to the related mortgage loan. A repurchase or the exercise of a purchase option may adversely affect the yield to maturity on your certificates.

Certain of the mortgage loans are secured in part by letters of credit and/or cash reserves that in each such case:

(i)    will be released to the related borrower, in whole or in part, upon satisfaction by that borrower of certain performance related conditions, which may include, in some cases, meeting debt service coverage ratio levels and/or satisfying leasing conditions; and

(ii)    if not so released, may, at the discretion of the lender, prior to loan maturity (or earlier loan default or loan acceleration), be drawn on and/or applied to prepay or defease the subject mortgage loan if such performance related conditions are not satisfied within specified time periods.

In addition, with respect to certain of the mortgage loans, if the borrower does not satisfy the performance conditions and does not qualify for the release of the related cash reserve, the reserve, less, in some cases, a yield maintenance charge or prepayment premium (which, in some

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cases, may be paid out of the related additional collateral), may be applied to reduce the principal balance of the mortgage loan and the remaining unpaid balance of the mortgage loan may be re-amortized over the remaining amortization term. If such amount is used to prepay or defease the mortgage loan as described in paragraph (ii) above, there is no obligation on the part of the related borrower to replenish such cash reserves.

Optional Early Termination of the Trust Fund May Result in an Adverse Impact on Your Yield or May Result in a Loss

The certificates will be subject to optional early termination by means of the purchase of the mortgage loans in the trust fund. We cannot assure you that the proceeds from a sale of the mortgage loans and/or REO properties will be sufficient to distribute the outstanding certificate balance plus accrued interest and any undistributed shortfalls in interest accrued on the certificates that are subject to the termination. Accordingly, the holders of offered certificates affected by such a termination may suffer an adverse impact on the overall yield on their certificates, may experience repayment of their investment at an unpredictable and inopportune time or may even incur a loss on their investment. See ‘‘Description of the Certificates— Termination; Retirement of Certificates’’ in this free writing prospectus.

Sensitivity to LIBOR and Yield Considerations

The yield to investors in the Class A-MFL and the Class A-JFL certificates will be highly sensitive to changes in the level of LIBOR. Investors in the Class A-MFL and the Class A-JFL certificates should consider the risk that lower than anticipated levels of LIBOR could result in actual yields that are lower than anticipated yields on the Class A-MFL and the Class A-JFL certificates.

In addition, because interest payments on the Class A-MFL or Class A-JFL certificates may be reduced or the applicable pass-through rate may convert to a fixed rate, in connection with certain events discussed in this free writing prospectus, the yield to investors in the Class A-MFL and/or Class A-JFL certificates under those circumstances may not be as high as that offered by other LIBOR-based investments, that are not subject to these interest rate restrictions.

In general, the earlier a change in the level of LIBOR, the greater the effect on the yield to maturity. As a result, the effect on an investor’s yield to maturity of a level of LIBOR that is higher (or lower) than the rate anticipated by the investor during the period immediately following the issuance of the Class A-MFL and Class A-JFL certificates is not likely to be offset by a subsequent like reduction (or increase) in the level of LIBOR. The failure by the swap counterparty in its obligation to make payments under each swap contract and/or, the conversion to a fixed rate that is below the rate that would otherwise be payable at the floating rate would have this kind of a negative impact. We cannot assure you that a default by the swap counterparty and/or the conversion of the pass-through rate from a rate based on LIBOR to a fixed rate would not adversely affect the amount and timing of distributions to the holders of the Class A-MFL and/or Class A-JFL certificates. See ‘‘Yield and Maturity Considerations’’ in this free writing prospectus.

Risks Relating to the Swap Contracts

The issuing entity will have the benefit of two interest rate swap contracts issued by JPMorgan Chase Bank, N.A. relating to the Class A-MFL and Class A-JFL certificates, respectively. Because the Class A-MFL and Class A-JFL regular interests accrue interest at a fixed rate of interest, the ability of the holders of the Class A-MFL or Class A-JFL certificates to obtain the payment of interest at the designated pass-through rate (which payment of interest may be reduced in certain circumstances as described in this free writing prospectus) will depend on payment by the swap counterparty pursuant to the applicable swap contract. See ‘‘Description of the Swap Contracts— The Swap Counterparty’’ in this free writing prospectus.

If the swap counterparty’s long-term rating is not at least ‘‘A3’’ by Moody’s Investors Service, Inc. or ‘‘A−’’ by Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,

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Inc., a rating agency trigger event will occur and the swap counterparty will be required to post collateral or find a replacement swap counterparty that would not cause a rating agency trigger event to occur. In the event that the swap counterparty fails to either post acceptable collateral or find an acceptable replacement swap counterparty after a trigger event, the trustee will be required to take such actions (following the expiration of any applicable grace period), unless otherwise directed in writing by the holders of 25% of the Class A-MFL or Class A-JFL certificates, as applicable, to enforce the rights of the issuing entity under the related swap contracts as may be permitted by the terms of that swap contract and use any termination fees received from the swap counterparty to enter into a replacement swap contract on substantially similar terms. If the costs attributable to entering into a replacement swap contract would exceed the net proceeds of the liquidation of the swap contract, a replacement swap contract will not be entered into and any proceeds will instead be distributed to the holders of the Class A-MFL or Class A-JFL certificates, as applicable. We cannot assure you that the swap counterparty will maintain its current ratings or have sufficient assets or otherwise be able to fulfill its obligations under the swap contracts.

During the occurrence of a trigger event and in the event that a replacement swap counterparty is not found, the Class A-MFL or Class A-JFL certificate pass-through rate, as applicable, will convert to a fixed interest rate. Any conversion to a fixed rate might result in a temporary delay of payment of the distributions to the holders of the Class A-MFL or Class A-JFL certificates if The Depository Trust Company (‘‘DTC’’) does not receive notice of the resulting change in payment terms of the Class A-MFL or Class A-JFL certificates within the time frame and in advance of the distribution date that DTC requires to modify the payment.

In addition, if the funds allocated to payment of interest distributions on the Class A-MFL or Class A-JFL regular interest are insufficient to make all required interest payments on the Class A-MFL or Class A-JFL regular interest, respectively, the amount paid to the swap counterparty will be reduced and interest paid by the swap counterparty under the applicable swap contract will be reduced, on a dollar-for-dollar basis, by an amount equal to the difference between the amount actually paid to the swap counterparty and the amount that would have been paid if the funds allocated to payment of interest distributions on the Class A-MFL or Class A-JFL regular interest, as applicable, had been sufficient to make all required interest payments on the Class A-MFL or Class A-JFL regular interest. As a result, the holders of the Class A-MFL and/or Class A-JFL certificates, as the case may be, may experience an interest shortfall. See ‘‘Description of the Swap Contracts’’ in this free writing prospectus.

Mortgage Loan Sellers May Not Be Able to Make a Required Repurchase or Substitution of a Defective Mortgage Loan

Each mortgage loan seller is the sole warranting party in respect of the mortgage loans sold by such mortgage loan seller to us. Neither we nor any of our affiliates (except, in certain circumstances, for JPMorgan Chase Bank, N.A. solely in its capacity as a mortgage loan seller) are obligated to repurchase or substitute any mortgage loan in connection with either a material breach of any mortgage loan seller’s representations and warranties or any material document defects, if such mortgage loan seller defaults on its obligation to do so. We cannot provide assurances that the mortgage loan sellers will have the financial ability to effect such repurchases or substitutions. Any mortgage loan that is not repurchased or substituted and that is not a ‘‘qualified mortgage’’ for a REMIC may cause the trust fund to fail to qualify as one or more REMICs or cause the trust fund to incur a tax. See ‘‘Transaction Parties—The Mortgage Loan Sellers’’ and ‘‘Description of the Mortgage Pool—Representations and Warranties; Repurchases and Substitutions’’ in this free writing prospectus and ‘‘Description of the Pooling Agreements— Representations and Warranties; Repurchases’’ in the prospectus.

Risks Relating to Interest on Advances and Special Servicing Compensation

To the extent described in this free writing prospectus, the master servicers, the special servicer or the trustee, as applicable, will be entitled to receive interest on unreimbursed

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advances at the ‘‘Prime Rate’’ as published in The Wall Street Journal. This interest will generally accrue from the date on which the related advance is made or the related expense is incurred to the date of reimbursement. In addition, under certain circumstances, including delinquencies in the payment of principal and/or interest, a mortgage loan will be specially serviced and the special servicer is entitled to compensation for special servicing activities. The right to receive interest on advances or special servicing compensation is generally senior to the rights of certificateholders to receive distributions on the offered certificates. The payment of interest on advances and the payment of compensation to the special servicer may lead to shortfalls in amounts otherwise distributable on your certificates.

Risks of Limited Liquidity and Market Value

Your certificates will not be listed on any national securities exchange or traded on any automated quotation systems of any registered securities association, and there is currently no secondary market for your certificates. While we have been advised by the underwriters that one or more of them, through one or more of their affiliates, currently intend to make a market in the offered certificates, none of the underwriters has any obligation to do so, any market-making may be discontinued at any time, and there can be no assurance that an active secondary market for the offered certificates will develop. Additionally, one or more purchasers may purchase substantial portions of one or more classes of offered certificates. Accordingly, you may not have an active or liquid secondary market for your certificates. Lack of liquidity could result in a substantial decrease in the market value of your certificates. The market value of your certificates also may be affected by many other factors, including the then-prevailing interest rates and market perceptions of risks associated with commercial mortgage lending. See ‘‘Risk Factors— Your Ability to Resell Certificates May Be Limited Because of Their Characteristics’’ in the prospectus.

Different Timing of Mortgage Loan Amortization Poses Certain Risks

As principal payments or prepayments are made on a mortgage loan that is part of a pool of mortgage loans, the pool will be subject to more concentration risks with respect to the diversity of mortgaged properties, types of mortgaged properties and number of borrowers, as described in this free writing prospectus. Classes that have a later sequential designation or a lower payment priority are more likely to be exposed to this concentration risk than are classes with an earlier sequential designation or a higher priority. This is so because principal on the offered certificates is generally payable in sequential order, and no class entitled to distribution of principal generally receives principal until the certificate balance of the preceding class or classes entitled to receive principal has been reduced to zero.

Subordination of Subordinate Offered Certificates

As described in this free writing prospectus, unless your certificates are Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class X-1 or Class X-2 certificates, your right to receive distributions of amounts collected or advanced on or in respect of the mortgage loans will be subordinated to those of the holders of the offered certificates with an earlier sequential designation. See ‘‘Description of the Certificates—Distributions—Priority’’ and ‘‘Description of the Certificates— Subordination; Allocation of Collateral Support Deficit’’ in this free writing prospectus.

Limited Information Causes Uncertainty

Some of the mortgage loans that we intend to include in the trust are mortgage loans that were made to enable the related borrower to acquire the related mortgaged property. Accordingly, for certain of these mortgage loans, limited or no historical operating information is available with respect to the related mortgaged properties. As a result, you may find it difficult to analyze the historical performance of those mortgaged properties.

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Environmental Risks Relating to the Mortgaged Properties

The issuing entity could become liable for a material adverse environmental condition at an underlying mortgaged property. Any such potential liability could reduce or delay payments on the offered certificates.

Each of the mortgaged properties was either (i) subject to environmental site assessments prior to the time of origination of the related mortgage loan (or in certain limited cases, after origination), including Phase I site assessments or updates of previously performed Phase I site assessments, or (ii) subject to a secured creditor environmental insurance policy or other environmental insurance policy. In some cases, Phase II site assessments also have been performed. Although assessments were made on the majority of the mortgaged properties and these involved site visits and other types of review, we cannot assure you that all environmental conditions and risks were identified.

Except as described below, none of the environmental assessments revealed any material adverse environmental condition or circumstance at any mortgaged property except for those:

	•	that will be remediated or abated in all material respects by the closing date;

	•	for which an escrow or letter of credit for the remediation was established;

	•	for which an environmental insurance policy was obtained from a third party insurer;

	•	for which the consultant recommended an operations and maintenance plan with respect to the applicable mortgaged property or periodic monitoring of nearby properties, which recommendations are consistent with industry practice;

	•	for which the borrower, the principal of the borrower or another financially responsible party has provided an indemnity or is required to take, or is liable for the failure to take, such actions, if any, with respect to such matters as have been required by the applicable governmental authority or recommended by the environmental assessments;

	•	for which such conditions or circumstances were investigated further and the environmental consultant recommended no further action or remediation;

	•	as to which the borrower or other responsible party obtained a ‘‘no further action’’ letter or other evidence that governmental authorities are not requiring further action or remediation (or as to which the borrower or other responsible party will be obtaining such ‘‘no further action’’ or remediation letter and a holdback or other assurance was made to secure the receipt of such letter); or

	•	that would not require substantial cleanup, remedial action or other extraordinary response under environmental laws.

In certain cases, the identified condition was related to the presence of asbestos-containing materials, lead-based paint and/or radon. Where these substances were present, the environmental consultant generally recommended, and the related mortgage loan documents, with certain exceptions, generally required, the establishment of an operation and maintenance plan to address the issue or, in some cases involving asbestos-containing materials and lead-based paint, a containment, abatement or removal program. Other identified conditions could, for example, include leaks from storage tanks and on-site spills. Corrective action, as required by the regulatory agencies, has been or is currently being undertaken and, in some cases, the related borrowers have made deposits into environmental reserve accounts. However, we cannot assure you that any environmental indemnity, insurance, letter of credit or reserve amounts will be sufficient to remediate the environmental conditions or that all environmental conditions have been identified or that operation and maintenance plans will be put in place and/or followed. Additionally, we cannot assure you that actions of tenants at mortgaged properties will not adversely affect the environmental condition of the mortgaged properties.

See ‘‘Transaction Parties—The Mortgage Loan Sellers—Underwriting Guidelines and Processes—Environmental Site Assessment’’ and ‘‘Servicing of the Mortgage Loans—Realization

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Upon Defaulted Mortgage Loans’’ in this free writing prospectus and ‘‘Risk Factors—Failure to Comply with Environmental Law May Result in Additional Losses’’ and ‘‘Certain Legal Aspects of Mortgage Loans—Environmental Risks’’ in the prospectus.

Tax Considerations Relating to Foreclosure

If the issuing entity acquires a mortgaged property pursuant to a foreclosure or deed in lieu of foreclosure, the special servicer must retain an independent contractor to operate the property. Among other items, the independent contractor generally will not be able to perform construction work other than repair, maintenance or certain types of tenant build-outs, unless the construction was at least 10% completed when the mortgage loan defaulted or the default of the mortgage loan becomes imminent. Any net income from the operation of the property (other than qualifying ‘‘rents from real property’’), or any rental income based on the net profits of a tenant or sub-tenant or allocable to a non-customary service, will subject the lower-tier REMIC to federal tax on that income at the highest marginal corporate tax rate (currently 35%) and possibly state or local tax. In that event, the net proceeds available for distribution to certificateholders will be reduced. The special servicer may permit the lower-tier REMIC to earn ‘‘net income from foreclosure property’’ that is subject to tax if it determines that the net after-tax benefit to certificateholders is greater than under another method of operating or net leasing the mortgaged property. In addition, if the trust were to acquire one or more mortgaged properties pursuant to a foreclosure or deed in lieu of foreclosure, upon acquisition of those mortgaged properties, the trust may in certain jurisdictions, particularly in New York, be required to pay state or local transfer or excise taxes upon liquidation of such properties. Such state or local taxes may reduce net proceeds available for distribution to the certificateholders.

Risks Associated with One Action Rules

The ability to realize upon the mortgage loans may be limited by the application of state and federal laws. For example, several states (including California) have laws that prohibit more than one ‘‘judicial action’’ to enforce a mortgage obligation, and some courts have construed the term ‘‘judicial action’’ broadly. Accordingly, the special servicer is required to obtain advice of counsel prior to enforcing any of the trust fund’s rights under any of the mortgage loans that include mortgaged properties where a ‘‘one action’’ rule could be applicable. In the case of a multi-property mortgage loan that is secured by mortgaged properties located in multiple states, the special servicer may be required to foreclose first on properties located in states where ‘‘one action’’ rules apply (and where non-judicial foreclosure is permitted) before foreclosing on properties located in states where judicial foreclosure is the only permitted method of foreclosure. The application of other state and federal laws may delay or otherwise limit the ability to realize on defaulted mortgage loans. See ‘‘Certain Legal Aspects of Mortgage Loans— Foreclosure’’ in the prospectus.

Potential Absence of Attornment Provisions Entails Risks

In some jurisdictions, if tenant leases are subordinate to the liens created by the mortgage and do not contain attornment provisions (i.e., provisions requiring the tenant to recognize a successor owner following foreclosure as landlord under the lease), the leases may terminate upon the transfer of the property to a foreclosing lender or purchaser at foreclosure. Not all leases were reviewed to ascertain the existence of attornment or subordination provisions. Accordingly, if a mortgaged property is located in such a jurisdiction and is leased to one or more desirable tenants under leases that are subordinate to the mortgage and do not contain attornment provisions, such mortgaged property could experience a further decline in value if such tenants’ leases were terminated. This is particularly likely if such tenants were paying above-market rents or could not be replaced.

If a lease is not subordinate to a mortgage, the trust will not possess the right to dispossess the tenant upon foreclosure of the mortgaged property (unless otherwise agreed to with the

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tenant). If the lease contains provisions inconsistent with the mortgage (e.g., provisions relating to application of insurance proceeds or condemnation awards) or which could affect the enforcement of the lender’s rights (e.g., a right of first refusal to purchase the property), the provisions of the lease will take precedence over the provisions of the mortgage.

Property Insurance May Not Be Sufficient

All of the mortgage loans require the related borrower to maintain, or cause to be maintained, property insurance (which, in some cases, is provided by allowing a tenant to self-insure). However, the mortgaged properties may suffer casualty losses due to risks that were not covered by insurance or for which insurance coverage is inadequate. Specifically, certain of the mortgage loans may have insurance coverage that specifically excludes coverage for losses due to mold, certain acts of nature, terrorism activities or other comparable conditions or events. In addition, approximately 10.6%, 8.5% and 6.8% of the mortgaged properties, by aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 10.4%, 9.8% and 6.0%, respectively, of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date and approximately 11.1%, 2.6% and 10.5%, respectively, of the aggregate principal balance of the mortgage loans in loan group 2 as of the cut-off date), are located in Texas, Florida and California, respectively, and certain of the mortgage loans are located in coastal areas of certain other states. These states and areas have historically been at greater risk regarding acts of nature (such as earthquakes, floods and hurricanes) than other states. The mortgage loans generally do not expressly require borrowers to maintain insurance coverage for earthquakes, hurricanes or floods and we cannot assure you that borrowers will attempt or be able to obtain adequate insurance against such risks. Moreover, if reconstruction or any major repairs are required, changes in laws may materially affect the borrower’s ability to effect any reconstruction or major repairs or may materially increase the costs of the reconstruction or repairs. Certain mortgage loans are secured by improvements for which coverage for acts of terrorism have been waived, are not required or are required only if certain conditions (such as availability at reasonable rates or maximum cost limits) are satisfied.

Following the September 11, 2001 terrorist attacks in the New York City area and in the Washington, D.C. area, many reinsurance companies (which assume some of the risk of policies sold by primary insurers) eliminated coverage for acts of terrorism from their reinsurance policies. Without that reinsurance coverage, primary insurance companies would have to assume that risk themselves, which may cause them to eliminate such coverage in their policies, increase the amount of the deductible for acts of terrorism or charge higher premiums for such coverage. In order to offset this risk, Congress passed the Terrorism Risk Insurance Act of 2002, which established the Terrorism Insurance Program.

The Terrorism Insurance Program was originally scheduled to expire on December 31, 2005. However, on December 22, 2005, the Terrorism Risk Insurance Extension Act of 2005 was enacted, which extended the duration of the Terrorism Insurance Program until December 31, 2007.

The Terrorism Insurance Program is administered by the Secretary of the Treasury and through December 31, 2007 will provide some financial assistance from the United States Government to insurers in the event of another terrorist attack that results in an insurance claim. The program applies to United States risks only and to acts that are committed by an individual or individuals acting on behalf of a foreign person or foreign interest as an effort to influence or coerce United States civilians or the United States Government.

In addition, with respect to any act of terrorism occurring after March 31, 2006, no compensation will be paid under the Terrorism Insurance Program unless the aggregate industry losses relating to such act of terror exceed $50 million (or, if such insured losses occur in 2007, $100 million). As a result, unless the borrowers obtain separate coverage for events that do not meet these thresholds (which coverage may not be required by the respective loan documents and may not otherwise be obtainable), such events would not be covered.

The Treasury Department has established procedures for the program under which the federal share of compensation will be equal to 90% (or, in 2007, 85%) of that portion of insured

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losses that exceeds an applicable insurer deductible required to be paid during each program year. The federal share in the aggregate in any program year may not exceed $100 billion (and the insurers will be liable for any amount that exceeds this cap).

Through December 2007, insurance carriers are required under the program to provide terrorism coverage in their basic ‘‘all-risk’’ policies. Any commercial property and casualty terrorism insurance exclusion that was in force on November 26, 2002 is automatically voided to the extent that it excludes losses that would otherwise be insured losses. Any state approval of such types of exclusions in force on November 26, 2002 are also voided.

The various forms of insurance maintained with respect to any of the mortgaged properties, including casualty insurance, environmental insurance and earthquake insurance, may be provided under a blanket insurance policy. That blanket insurance policy will also cover other real properties, some of which may not secure mortgage loans in the trust. As a result of total limits under any of those blanket policies, losses at other properties covered by the blanket insurance policy may reduce the amount of insurance coverage with respect to a property securing one of the mortgage loans in the trust fund.

Some of the mortgage loans specifically require terrorism insurance, but this insurance may be required only to the extent it can be obtained for premiums less than or equal to a ‘‘cap’’ amount specified in the related mortgage loan documents, only if it can be purchased at commercially reasonable rates, only with a deductible at a certain threshold and/or other similar conditions. For example, with respect to 2 mortgage loans (identified as Loan Nos. 8 and 11 on Annex A-1 to this free writing prospectus) representing approximately 2.5% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 3.0% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), in the event that terrorism insurance rates rise significantly or such coverage is not available with an all-risk policy, then the cost of the annual premium associated with terrorism insurance that the mortgagor is required to incur will be limited to 200% of the cost of the then current premium for all-risk casualty insurance without terrorism coverage.

With respect to 1 mortgage loan (identified as Loan No. 1 on Annex A-1 to this free writing prospectus), representing approximately 6.8% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 8.4% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), terrorism insurance is only required to the extent that such insurance can be purchased for a premium per annum not in excess of $825,000.

With respect to 1 mortgage loan (identified as Loan No. 2 on Annex A-1 to this free writing prospectus), representing approximately 3.3% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 4.1% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), terrorism insurance is only required to the extent that such insurance can be purchased for a premium per annum not in excess of $230,335.

With respect to 1 mortgage loan (identified as Loan No. 3 on Annex A-1 to this free writing prospectus), representing approximately 2.6% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 3.2% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), terrorism insurance is only required to the extent that such insurance can be purchased for a premium per annum not in excess of $125,000.

With respect to 1 mortgage loan (identified as Loan No. 5 on Annex A-1 to this free writing prospectus supplement), representing approximately 1.8 of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 2.2 of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), terrorism insurance is only required to the extent that such insurance can be purchased for a premium per annum not in excess of $150,000.

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With respect to 1 mortgage loan (identified as Loan No. 7 on Annex A-1 to this free writing prospectus), representing approximately 1.4% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 1.7% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), terrorism insurance is only required to the extent that such insurance can be purchased for a premium per annum not in excess of $100,000.

With respect to certain of the mortgage loans, the ‘‘all-risk’’ policy specifically excludes terrorism insurance from its coverage. In some such cases, the related borrower obtained supplemental insurance to cover terrorism risk. In other cases, the lender waived the requirement that such insurance be maintained.

With respect to certain of the mortgage loans, the related mortgage loan documents generally provide that the borrowers are required to maintain comprehensive all-risk casualty insurance but may not specify the nature of the specific risks required to be covered by such insurance policies. With respect to certain mortgage loans in the trust, the related borrower is not required to maintain any terrorism insurance coverage either as part of its ‘‘all-risk’’ policy or under a stand-alone policy.

Even if the mortgage loan documents specify that the related borrower must maintain all-risk casualty insurance or other insurance that covers acts of terrorism, the borrower may fail to maintain such insurance and the applicable master servicer or the special servicer may not enforce such default or cause the borrower to obtain such insurance if the special servicer has determined, based on inquiry consistent with the servicing standards and after consultation with the directing certificateholder, that either (a) such insurance is not available at any rate or (b) such insurance is not available at commercially reasonable rates and that such hazards are not at the time commonly insured against for properties similar to the related mortgaged property and located in or around the region in which such related mortgaged property is located. Additionally, if the related borrower fails to maintain such insurance, the applicable master servicer or the special servicer, as the case may be, will not be required to maintain such terrorism insurance coverage if the special servicer determines, in accordance with the servicing standards, that such insurance is not available for the reasons set forth in (a) or (b) of the preceding sentence. Furthermore, at the time existing insurance policies are subject to renewal, there is no assurance that terrorism insurance coverage will be available and covered under the new policies or, if covered, whether such coverage will be adequate. Most insurance policies covering commercial real estate properties such as the mortgaged properties are subject to renewal on an annual basis. If such coverage is not currently in effect, is not adequate or is ultimately not continued with respect to some of the mortgaged properties and one of those properties suffers a casualty loss as a result of a terrorist act, then the resulting casualty loss could reduce the amount available to make distributions on your certificates.

We cannot assure you that all of the mortgaged properties will be insured against the risks of terrorism and similar acts. As a result of any of the foregoing, the amount available to make distributions on your certificates could be reduced.

Zoning Compliance and Use Restrictions May Adversely Affect Property Value

Certain of the mortgaged properties may not comply with current zoning laws, including density, use, parking, height and set back requirements, due to changes in zoning requirements after such mortgaged properties were constructed. These properties, as well as those for which variances or special permits were issued or for which non-conformity with current zoning laws are otherwise permitted, are considered to be a ‘‘legal non-conforming use’’ and/or the improvements are considered to be ‘‘legal non-conforming structures.’’ This means that the borrower is not required to alter its use or structure to comply with the existing or new law; however, the borrower may not be able to continue the non-conforming use or rebuild the non-conforming premises ‘‘as is’’ in the event of a substantial casualty loss. This may adversely affect the cash flow of the property following the loss. If a substantial casualty were to occur, we

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cannot assure you that insurance proceeds would be available to pay the mortgage loan in full. In addition, if a non-conforming use were to be discontinued and/or the property were repaired or restored in conformity with the current law, the value of the property or the revenue-producing potential of the property may not be equal to that before the casualty.

In addition, certain of the mortgaged properties that do not conform to current zoning laws may not be ‘‘legal non-conforming uses’’ or ‘‘legal non-conforming structures.’’ The failure of a mortgaged property to comply with zoning laws or to be a ‘‘legal non-conforming use’’ or ‘‘legal non-conforming structure’’ may adversely affect market value of the mortgaged property or the borrower’s ability to continue to use it in the manner it is currently being used or may necessitate material additional expenditures to remedy non-conformities.

In addition, certain of the mortgaged properties may be subject to certain restrictions imposed pursuant to restrictive covenants, reciprocal easement agreements or operating agreements or historical landmark designations or, in the case of those mortgaged properties that are condominiums, condominium declarations or other condominium use restrictions or regulations, especially in a situation where the mortgaged property does not represent the entire condominium building. Such use restrictions could include, for example, limitations on the use or character of the improvements or the properties, limitations affecting noise and parking requirements, among other things, and limitations on the borrowers’ right to operate certain types of facilities within a prescribed radius. These limitations could adversely affect the ability of the related borrower to lease the mortgaged property on favorable terms, thus adversely affecting the borrower’s ability to fulfill its obligations under the related mortgage loan.

Risks Relating to Costs of Compliance with Applicable Laws and Regulations

A borrower may be required to incur costs to comply with various existing and future federal, state or local laws and regulations applicable to the related mortgaged property, such as zoning laws and the Americans with Disabilities Act of 1990, as amended, which requires all public accommodations to meet certain federal requirements related to access and use by persons with disabilities. See ‘‘Certain Legal Aspects of Mortgage Loans—Americans with Disabilities Act’’ in the prospectus. The expenditure of these costs or the imposition of injunctive relief, penalties or fines in connection with the borrower’s noncompliance could negatively impact the borrower’s cash flow and, consequently, its ability to pay its mortgage loan.

No Reunderwriting of the Mortgage Loans

We have not reunderwritten the mortgage loans. Instead, we have relied on the representations and warranties made by the mortgage loan sellers, and the applicable mortgage loan seller’s obligation to repurchase, substitute or cure a mortgage loan in the event that a representation or warranty was not true when made and such breach materially and adversely affects the value of the mortgage loan or the interests of the certificateholders. These representations and warranties do not cover all of the matters that we would review in underwriting a mortgage loan and you should not view them as a substitute for reunderwriting the mortgage loans. If we had reunderwritten the mortgage loans, it is possible that the reunderwriting process may have revealed problems with a mortgage loan not covered by a representation or warranty. In addition, we can give no assurance that the applicable mortgage loan seller will be able to repurchase a mortgage loan if a representation or warranty has been breached. See ‘‘Description of the Mortgage Pool—Representations and Warranties; Repurchases and Substitutions’’ in this free writing prospectus.

Litigation or Other Legal Proceedings Could Adversely Affect the Mortgage Loans

There may be pending or threatened legal proceedings against, or other past or present adverse regulatory circumstances experienced by, the borrowers, their sponsors and managers of the mortgaged properties and their respective affiliates arising out of the ordinary business of the borrowers, their sponsors, managers and affiliates. In certain cases, principals and/or affiliates

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of the borrowers are involved or may have been involved in prior litigation or property foreclosures or deed-in-lieu of foreclosures. We cannot assure you that any litigation, other legal proceedings, or other adverse situations will not have a material adverse effect on your investment.

See also ‘‘—Bankruptcy Proceedings Entail Certain Risks’’ above.

Risks Relating to Book-Entry Registration

Your certificates will be initially represented by one or more certificates registered in the name of Cede & Co., as the nominee for DTC, and will not be registered in your name. As a result, you will not be recognized as a certificateholder, or holder of record of your certificates. See ‘‘Risk Factors—Book-Entry System for Certain Classes May Decrease Liquidity and Delay Payment’’ in the prospectus for a discussion of important considerations relating to not being a certificateholder of record.

Risks Relating to Inspections of Properties

Licensed engineers or consultants inspected the mortgaged properties at or about the time of the origination of the mortgage loans to assess items such as structural integrity of the buildings and other improvements on the mortgaged property, including exterior walls, roofing, interior construction, mechanical and electrical systems and general condition of the site, buildings and other improvements. However, we cannot assure you that all conditions requiring repair or replacement were identified. No additional property inspections were conducted in connection with the closing of the offered certificates.

Certain of the Mortgage Loans Lack Customary Provisions

Certain of the mortgage loans lack one or more features that are customary in mortgage loans intended for securitization. Generally, the borrowers with respect to these mortgage loans are either not required to make payments to lockboxes or to maintain reserves for certain expenses, such as taxes, insurance premiums, capital expenditures, tenant improvements and leasing commissions, or the lenders under these mortgage loans do not have the right to terminate the related property manager upon the occurrence of certain events or require lender approval of a replacement property manager. However, mortgage loans originated for securitization are generally originated in accordance with the lender’s underwriting guidelines. For more information, see ‘‘Transaction Parties—The Sponsors’’ and ‘‘—The Mortgage Loan Sellers—Underwriting Guidelines and Processes’’ in this free writing prospectus.

Mortgage Electronic Registration Systems (MERS)

The mortgages or assignments of mortgages for some of the mortgage loans have been or may be recorded in the name of MERS, solely as nominee for the related mortgage loan seller and its successor and assigns. Subsequent assignments of those mortgages are registered electronically through the MERS system.

The recording of mortgages in the name of MERS is a new practice in the commercial mortgage lending industry. Public recording officers and others have limited, if any, experience with lenders seeking to foreclose mortgages, assignments of which are registered with MERS. Accordingly, delays and additional costs in commencing, prosecuting and completing foreclosure proceedings and conducting foreclosure sales of the mortgaged properties could result. Those delays and the additional costs could in turn delay the distribution of liquidation proceeds to certificateholders and increase the amount of losses on the loans.

Other Risks

Past Hurricanes.    In late August, September and October 2005, hurricanes Katrina, Rita and Wilma and related windstorms, floods and tornadoes caused extensive and catastrophic physical

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damage to coastal and inland areas located in the Gulf Coast region of the United States (parts of Texas, Louisiana, Mississippi, Alabama and Florida) and certain other parts of the southeastern United States (including offshore facilities in the Gulf of Mexico) consisting of severe flooding, wind and water damage, forced evacuations, contamination, gas leaks and fire and environmental damage. The long-term national, regional and local economic and other effects of that damage, are not yet fully known. Economic effects appear to include nationwide decreases in oil supplies and refining capacity, nationwide increases in gas prices and regional interruptions in travel and transportation, tourism and economic activity generally in some of the affected areas. It is not possible to determine how long these effects may last. These effects could lead to a general economic downturn, including increased oil prices, loss of jobs, regional disruptions in travel, transportation and tourism and a decline in real-estate related investments, in particular, in the areas most directly damaged by the storms. Other temporary and/or long-term effects on national, regional and local economies, securities, financial and real estate markets, government finances, and spending or travel habits may subsequently arise or become apparent in connection with the hurricanes and their aftermath. Furthermore, there can be no assurance that displaced residents of the affected areas will return, that the economies in the affected areas will recover sufficiently to support income producing real estate at pre-storm levels or that the costs of clean-up will not have a material adverse effect on the national economy. Because standard hazard insurance policies generally do not provide coverage for damage arising from floods and windstorms, property owners in the affected areas may not be insured for the damage to their properties and, in the aggregate, this may affect the timing and extent of local and regional economic recovery.

See ‘‘Risk Factors’’ in the prospectus for a description of certain other risks and special considerations that may be applicable to your certificates.

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Description of the Mortgage Pool

General

The trust will consist primarily of 242 fixed rate mortgage loans secured by 315 commercial, multifamily and manufactured housing community Mortgaged Properties with an aggregate principal balance of approximately $3,288,806,504 as of the Cut-off Date (the ‘‘Initial Pool Balance’’). The ‘‘Cut-off Date’’ with respect to each mortgage loan is the due date of the related mortgage loan in June 2007, or, June 1, 2007, with respect to those mortgage loans that were originated in May 2007 and have their first due date in July 2007. All percentages of the mortgage loans and Mortgaged Properties, or of any specified group of mortgage loans and Mortgaged Properties, referred to in this free writing prospectus without further description are approximate percentages by Initial Pool Balance.

The pool of mortgage loans will be deemed to consist of two loan groups (‘‘Loan Group 1’’ and ‘‘Loan Group 2’’ and, collectively, the ‘‘Loan Groups’’) for the purpose of principal and interest distributions on the Class A Certificates (as described in this free writing prospectus). Loan Group 1 will consist of 183 mortgage loans, representing approximately 81.9% of the Initial Pool Balance (the ‘‘Initial Loan Group 1 Balance’’). Loan Group 2 will consist of 59 mortgage loans, representing approximately 18.1% of the Initial Pool Balance (the ‘‘Initial Loan Group 2 Balance’’). Annex A-1 to this free writing prospectus sets forth the Loan Group designation with respect to each mortgage loan.

The mortgage loans included in this transaction were selected for this transaction from mortgage loans specifically originated for securitizations of this type by or on behalf of each Mortgage Loan Seller taking into account, among other factors, rating agency criteria and anticipated feedback from investors in the most subordinate Certificates, property type and geographic location.

The ‘‘Cut-off Date Balance’’ of any mortgage loan will be the unpaid principal balance of that mortgage loan as of the Cut-off Date for such mortgage loan, after application of all payments due on or before that date, whether or not received. Unless otherwise noted, all numerical and statistical information presented herein, including Cut-off Date Balances, loan-to-value ratios (‘‘LTV Ratios’’) and debt service coverage ratios (‘‘DSCR’’) (i) with respect to each mortgage loan with an AB subordinate companion loan, is calculated without regard to the related AB subordinate companion loan, (ii) with respect to the 599 Lexington Avenue Loan, is calculated including the 599 Lexington Avenue Pari Passu Companion Loans, (iii) with respect to the AmeriCold Portfolio Loan, is calculated including the AmeriCold Portfolio Pari Passu Companion Loans and (iv) with respect to mortgage loans with permitted subordinate debt or permitted pari passu debt in the future, particularly as it relates to DSCRs and LTV Ratios, does not include any potential subordinate or pari passu debt.

Each mortgage loan is evidenced by one or more promissory notes (each, a ‘‘Mortgage Note’’) and secured by one or more mortgages, deeds of trust or other similar security instruments (each, a ‘‘Mortgage’’) that creates a first mortgage lien:

(1)    on a fee simple estate in one or more commercial, multifamily and manufactured housing community mortgaged properties;

(2)    with respect to 4 mortgaged properties securing mortgage loans (identified as Loan Nos. 39, 68, 121 and 196 on Annex A-1 to this free writing prospectus), representing approximately 1.5% of the Initial Pool Balance (approximately 1.8% of the Initial Loan Group 1 Balance) on a leasehold estate in one or more of the related commercial properties but not on the corresponding fee interest with respect to such property; or

(3)    with respect to 1 mortgaged property securing 1 mortgage loan (identified as Loan No. 6 on Annex A-1 to this free writing prospectus), representing approximately 1.6% of the Initial Pool Balance (approximately 1.9% of the Initial Loan Group 1 Balance), on a fee simple estate and a subleasehold estate in the entire related commercial property, but not on the corresponding leasehold estate with respect to such property; or

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(4)    with respect to 3 mortgaged properties securing mortgage loans (identified as Loan Nos. 7, 31 and 37 on Annex A-1 to this free writing prospectus), representing approximately 2.8% of the Initial Pool Balance (2 mortgaged properties securing mortgage loans representing approximately 2.6% of the Initial Loan Group 1 Balance, and 1 mortgaged property securing a mortgage loan representing approximately 3.6% of the Initial Loan Group 2 Balance), on a fee simple estate in a portion of the related property and a leasehold estate in the remaining portion of one or more commercial properties (each of the fee and/or leasehold and/or subleasehold estates described in clauses (1) through (4), a ‘‘Mortgaged Property’’).

Mortgage loans secured by ground leases present certain bankruptcy and foreclosure risks not present with mortgage loans secured by fee simple estates. See ‘‘Certain Legal Aspects of Mortgage Loans—Foreclosure—Leasehold Risks’’ and ‘‘Certain Legal Aspects of Mortgage Loans—Bankruptcy Laws’’ in the prospectus.

On or about June 14, 2007 (the ‘‘Closing Date’’), J.P. Morgan Chase Commercial Mortgage Securities Corp. (the ‘‘Depositor’’) will acquire the mortgage loans from JPMorgan Chase Bank, National Association (‘‘JPMCB’’) and CIBC Inc. (collectively, the ‘‘Mortgage Loan Sellers’’) pursuant to a separate mortgage loan purchase agreement with each Mortgage Loan Seller (collectively, the ‘‘Purchase Agreements’’), each between the Depositor and the applicable Mortgage Loan Seller. The Depositor will then assign its interests in the mortgage loans, without recourse, to LaSalle Bank National Association, as trustee (in such capacity, the ‘‘Trustee’’), for the benefit of the holders of the Certificates (the ‘‘Certificateholders’’). In addition, on the Closing Date, the applicable Mortgage Loan Seller will be required to remit to LaSalle Bank National Association, as paying agent (in such capacity, the ‘‘Paying Agent’’) an amount that will be sufficient to cover the interest shortfalls that would otherwise occur on the first Distribution Date as a result of certain mortgage loans not having their first due date until July 2007. This amount will be distributed to Certificateholders on the first Distribution Date as part of their regular interest distribution.

The mortgage loans were or will be originated in the period between October 23, 2006 and June 1, 2007. Thirty-eight (38) of the mortgage loans, representing approximately 14.7% of the Initial Pool Balance (34 mortgage loans in Loan Group 1, representing approximately 16.2% of the Initial Loan Group 1 Balance, and 4 mortgage loans in Loan Group 2, representing approximately 7.6% of the Initial Loan Group 2 Balance), will not have made any scheduled debt service payments as of the related Cut-off Date.

As of the Cut-off Date, none of the mortgage loans are 30-days or more delinquent and none of the mortgage loans have been 30-days or more delinquent since origination. A mortgage loan will be treated as 30-days delinquent if the scheduled payment for a due date is not received from the related borrower by the immediately following due date.

The mortgage loans are not insured or guaranteed by the Mortgage Loan Sellers or any other person or entity. You should consider all of the mortgage loans to be nonrecourse loans as to which recourse in the case of default will be limited to the specific property and other assets, if any, pledged to secure a mortgage loan.

Additional Debt

General.    Substantially all of the mortgage loans permit the related borrower to incur limited indebtedness in the ordinary course of business that is not secured by the related Mortgaged Property. Moreover, in general, any borrower that does not meet single purpose entity criteria may not be restricted from incurring unsecured debt.

The terms of certain mortgage loans permit the borrowers to post letters of credit and/or surety bonds for the benefit of the mortgagee under the mortgage loans, which may constitute a contingent reimbursement obligation of the related borrower or an affiliate. The issuing bank or surety will not typically agree to subordination and standstill protection benefiting the mortgagee.

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The 599 Lexington Avenue Loan.    The 599 Lexington Avenue Loan, with a principal balance as of the Cut-off Date of $225,000,000, is part of a split loan structure with the 599 Lexington Avenue Pari Passu Companion Loans (which are pari passu with the 599 Lexington Avenue Loan) and are not included in the trust. See ‘‘—The 599 Lexington Avenue Whole Loan’’ below.

The AmeriCold Portfolio Loan.    The AmeriCold Portfolio Loan, with a principal balance as of the Cut-off Date of $35,000,000, is part of a split loan structure with the AmeriCold Portfolio Pari Passu Companion Loans (which are each pari passu with the AmeriCold Portfolio Loan) and are not included in the trust. See ‘‘—The AmeriCold Portfolio Whole Loan’’ below.

AB Mortgage Loans.    Five (5) mortgage loans (each, an ‘‘AB Mortgage Loan’’) (identified as Loan Nos. 4, 23, 87, 96 and 123 on Annex A-1 to this free writing prospectus), representing approximately 3.8% of the Initial Pool Balance (approximately 4.6% of the Initial Loan Group 1 Balance), are each a senior loan in a split loan structure with a subordinate companion loan (with respect to each AB Mortgage Loan, the ‘‘AB Subordinate Companion Loan’’ and, together with the related AB Mortgage Loan, an ‘‘AB Mortgage Loan Pair’’). No AB Subordinate Companion Loan is an asset of the trust. Each such AB Mortgage Loan Pair is evidenced by a separate senior note and a subordinate note, both of which are secured by a single mortgage instrument on the related Mortgaged Property.

The AB Mortgage Loan (‘‘Green Hills Corporate Center AB Mortgage Loan’’) identified as Loan No. 4 on Annex A-1 to this free writing prospectus has a principal balance as of the Cut-off Date of $65,000,000. The related AB Subordinate Companion Loan, which is not included in the trust, has an initial principal balance of $4,000,000.

The AB Mortgage Loan (the ‘‘ABB Automation Inc. AB Mortgage Loan’’) identified as Loan No. 23 on Annex A-1 to this free writing prospectus has a principal balance as of the Cut-off Date of $29,600,000. The related AB Subordinate Companion Loan, which is not included in the trust, has an initial principal balance of $1,862,500.

The AB Mortgage Loan (the ‘‘Cumberland Tech Center AB Mortgage Loan’’) identified as Loan No. 87 on Annex A-1 to this free writing prospectus has a principal balance as of the Cut-off Date of $11,680,000. The related AB Subordinate Companion Loan, which is not included in the trust, has an initial principal balance of $730,000.

The AB Mortgage Loan (the ‘‘Holiday Inn Express – Temecula AB Mortgage Loan’’) identified as Loan No. 96 on Annex A-1 to this free writing prospectus has a principal balance as of the Cut-off Date of $10,230,000. The related AB Subordinate Companion Loan, which is not included in the trust, has an initial principal balance of $675,000.

The AB Mortgage Loan (the ‘‘Veteran’s Parkway AB Mortgage Loan’’) identified as Loan No. 123 on Annex A-1 to this free writing prospectus has a principal balance as of the Cut-off Date of $8,135,000. The related AB Subordinate Companion Loan, which is not included in the trust, has an initial principal balance of $510,000.

The Green Hills Corporate Center AB Mortgage Loan, the ABB Automation Inc. AB Mortgage Loan, the Cumberland Tech Center AB Mortgage Loan, the Holiday Inn Express – Temecula AB Mortgage Loan and the Veteran’s Parkway AB Mortgage Loan are collectively referred to in this free writing prospectus as the ‘‘Mezz Cap AB Mortgage Loans’’ (and each, individually, a ‘‘Mezz Cap AB Mortgage Loan’’), and the related AB Mortgage Loan Pairs are collectively referred to in this free writing prospectus as the ‘‘Mezz Cap Loan Pairs’’ (and each, individually, a ‘‘Mezz Cap Loan Pair’’).

Each of the AB Subordinate Companion Loans, the 599 Lexington Avenue Pari Passu Companion Loans and the AmeriCold Portfolio Pari Passu Companion Loans are referred to as a ‘‘Companion Loan’’ in this free writing prospectus. The holders of the AB Subordinate Companion Loans will have certain rights with respect to the related AB Mortgage Loan, as described under ‘‘—AB Mortgage Loan Pairs’’ below.

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The following table sets forth for each of the AB Mortgage Loans both the DSCR and LTV Ratios without taking into account the related AB Subordinate Companion Loan and the combined DSCR and LTV Ratios taking into account the related AB Subordinate Companion Loan.

Mortgage Loan			Loan Group						Mortgage Loan DSCR						Combined DSCR						Mortgage Loan Cut-off Date LTV Ratio						Cut-off Date Combined LTV Ratio
Green Hills Corporate Center					1						1.39x						1.23x						80.0	%					85.0	%
ABB Automation, Inc.					1						1.28x						1.15x						79.5	%					84.5	%
Cumberland Tech Center					1						1.36x						1.22x						79.5	%					84.4	%
Holiday Inn Express – Temecula					1						1.43x						1.27x						78.7	%					83.9	%
Veteran’s Parkway					1						1.15x						1.03x						79.8	%					84.8	%

Other Secured Indebtedness.    As of the Cut-off Date, the applicable Mortgage Loan Seller has informed us that, in addition to the outstanding secured indebtedness discussed above, it is aware of the following existing or specifically permitted secured indebtedness with respect to the mortgage loans:

	•	In the case of 1 mortgage loan (identified as Loan No. 84 on Annex A-1 to this free writing prospectus), representing approximately 0.4% of the Initial Pool Balance (approximately 0.4% of the Initial Loan Group 1 Balance), the related borrower has incurred two secured loans with original principal balances of $400,000 and $840,000, respectively, both of which are subject to a subordination agreement in favor of the holder of the related senior mortgage loan.

	•	In the case of 1 mortgage loan (identified as Loan No. 109 on Annex A-1 to this free writing prospectus), representing approximately 0.3% of the aggregate principal balance of the pool of mortgage loans as of the cut-off date (approximately 0.3% of the aggregate principal balance of the mortgage loans in loan group 1 as of the cut-off date), the related borrower has incurred one secured loan in the original principal balance of $5,400,000.

Mezzanine Debt.    Although the mortgage loans generally place certain restrictions on incurring mezzanine debt by the pledging of general partnership and managing member equity interests in a borrower, such as specific percentage or control limitations, the terms of the mortgages generally permit, subject to certain limitations, the pledge of less than a controlling portion of the limited partnership or non-managing membership equity interests in a borrower. However, certain of the mortgage loans do not restrict the pledging of ownership interests in the related borrower, but do restrict the transfer of ownership interests in a borrower by imposing limitations on transfer of control or a specific percentage of ownership interests. In addition, in general, a borrower that does not meet single-purpose entity criteria may not be restricted in any way from incurring mezzanine debt. The holders of certain of the mezzanine loans may have the right to cure certain defaults occurring on the related mortgage loan and the right to purchase the related mortgage loan if certain defaults on the related mortgage loan occur. The purchase price generally required to be paid in connection with such a purchase would equal the outstanding principal balance of the related mortgage loan, together with accrued and unpaid interest on, and unpaid servicing expenses, advances and interest on advances related to, such mortgage loan. The lenders for this mezzanine debt generally are not affiliates of the related mortgage loan borrower. Upon a default under the mezzanine debt, the holder of the mezzanine debt may foreclose upon the ownership interests in the related borrower subject to the terms of the related intercreditor agreement, which typically require either confirmation from each Rating Agency that the transfer would not result in the downgrade, withdrawal or qualification of the then-current ratings assigned to any Class of Certificates or that the holder of the ownership interests is an entity which meets certain financial and other tests under the related intercreditor agreement. As of the Cut-off Date, the applicable Mortgage Loan Sellers have informed us that they are aware of the following existing or specifically permitted mezzanine indebtedness with respect to the mortgage loans:

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	•	In the case of 1 mortgage loan (identified as Loan No. 61 on Annex A-1 to this free writing prospectus), representing approximately 0.5% of the Initial Pool Balance (2.6% of Group 2), a mezzanine loan secured by the owners’ ownership interests in the related borrower, with an aggregate principal balance of $2,000,000 as of the date of the origination of the mortgage loan, has been made to the owners of the related borrower.

	•	In the case of 1 mortgage loan (identified as Loan No. 4 on Annex A-1 to this free writing prospectus), representing approximately 2.0% of the Initial Pool Balance (approximately 2.4% of the Initial Loan Group 1 Balance), a mezzanine loan with a principal balance of $3,000,000 as of the date of the origination of the related mortgage loan has been made to the direct or indirect owners of the related borrower, secured by such direct or indirect owners’ ownership interests in the borrower.

	•	In the case of 1 mortgage loan (identified as Loan No. 9 on Annex A-1 to this free writing prospectus), representing approximately 1.2% of the Initial Pool Balance (approximately 1.5% of the Initial Loan Group 1 Balance), a mezzanine loan with a principal balance of $3,356,000 as of the date of the origination of the related mortgage loan has been made to the owner of the related borrower, secured by such owner’s ownership interests in the borrower.

	•	In the case of 1 mortgage loan (identified as Loan No. 12 on Annex A-1 to this free writing prospectus), representing approximately 1.1% of the Initial Pool Balance (approximately 1.4% of the Initial Loan Group 1 Balance), a mezzanine loan with a principal balance of $3,500,000 as of the date of the origination of the related mortgage loan has been made to the direct or indirect owners of the related borrower, secured by such direct or indirect owners’ ownership interests in the borrower.

	•	In the case of 56 mortgage loans (identified as Loan Nos. 5, 14, 26, 29, 38, 39, 41, 50, 51, 53, 56, 58, 60, 64, 73, 74, 77, 79, 82, 86, 89, 91, 93, 100, 101, 102, 114, 124, 125, 126, 127, 131, 132, 135, 145, 154, 158, 161, 162, 163, 166, 168, 179, 180, 186, 188, 191, 192, 194, 211, 216, 217, 219, 225, 228 and 238 on Annex A-1 to this free writing prospectus), representing approximately 19.3% of the Initial Pool Balance (36 mortgage loans in Loan Group 1, representing approximately 17.3% of the Initial Loan Group 1 Balance and 20 mortgage loans in Loan Group 2, representing approximately 28.4% of the Initial Loan Group 2 Balance), the direct or indirect owners of the related borrowers are permitted to pledge their ownership interests in the borrowers as collateral for mezzanine debt. The incurrence of this mezzanine indebtedness is generally subject to the satisfaction of certain conditions, which may include: (i) the consent of the mortgage lender and/or (ii) LTV Ratio and DSCR tests.

Unsecured Indebtedness.    The applicable Mortgage Loan Seller is aware of the following existing or specifically permitted unsecured debt with respect to each mortgage loan:

	•	In the case of 1 mortgage loan (identified as Loan No. 7 on Annex A-1 to this free writing prospectus), representing approximately 1.4% of the Initial Pool Balance (approximately 1.7% of the Initial Loan Group 1 Balance), the related borrower has an unsecured $6,000,000 line of credit, subject to a subordination and standstill agreement in favor of the holder of the related senior mortgage loan, however, the related borrower has agreed not to borrow more than $4,000,000 at any time while the mortgage loan is outstanding.

	•	In the case of 1 mortgage loan (identified as Loan No. 49 on Annex A-1 to this free writing prospectus), representing approximately 0.5% of the Initial Pool Balance (approximately 0.7% of the Initial Loan Group 1 Balance), the related borrower is permitted to obtain future unsecured debt in an amount not to exceed 3% of the outstanding principal balance of the mortgage loan, the proceeds of which are to be used solely for expenses related to the mortgaged property.

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	•	In the case of 1 mortgage loan (identified as Loan No. 119 on Annex A-1 to this free writing prospectus), representing approximately 0.3% of the Initial Pool Balance (approximately 0.3% of the Initial Loan Group 1 Balance), the related borrower is permitted to obtain future unsecured subordinate debt from its affiliates in an amount not to exceed $800,000.

In addition to the provisions noted above, in general, any borrower that does not meet single-purpose entity criteria may not be restricted from incurring unsecured debt.

Preferred Equity.    The applicable Mortgage Loan Seller is aware that the following related borrowers have issued or are permitted to issue in the future preferred equity in such borrower with respect to each mortgage loan:

	•	In the case of 3 mortgage loans (identified as Loan Nos. 50, 53 and 56 on Annex A-1 to this free writing prospectus), representing approximately 1.5% of the Initial Pool Balance (approximately 1.2% of the Initial Loan Group 1 Balance and 2.9% of the Initial Loan Group 2 Balance), the related borrower has issued preferred equity in such borrower in an amount equal to approximately $5,716,800, $6,450,000 and $3,611,000, respectively.

Certain risks relating to additional debt are described in ‘‘Risk Factors—Ability to Incur Other Borrowings Entails Risk’’ in this free writing prospectus and ‘‘Certain Legal Aspects of Mortgage Loans—Subordinate Financing’’ in the prospectus.

The 599 Lexington Avenue Whole Loan

The Loans.    One (1) mortgage loan (identified as Loan No. 1 on Annex A-1 to this free writing prospectus) (the ‘‘599 Lexington Avenue Loan’’), representing approximately 6.8% of the Initial Pool Balance (approximately 8.4% of the Initial Loan Group 1 Balance), is part of a split loan structure comprised of four mortgage loans, each of which is secured by the same mortgage instrument on the same underlying Mortgaged Property (the ‘‘599 Lexington Avenue Mortgaged Property’’). The 599 Lexington Avenue Loan is evidenced by promissory note A2 and has an outstanding principal balance as of the Cut-off Date of $225,000,000. The mortgage loans evidenced by promissory notes A1, A3 and A4 (with outstanding principal balances as of the Cut-off Date of $225,000,000, $150,000,000 and $150,000,000, respectively) are collectively referred to in this free writing prospectus as the ‘‘599 Lexington Avenue Pari Passu Companion Loans.’’ The 599 Lexington Avenue Pari Passu Companion Loans are not included in the trust. Only the 599 Lexington Avenue Loan is included in the trust. The 599 Lexington Avenue Loan and the 599 Lexington Avenue Pari Passu Companion Loans are pari passu in right of payment with each other and are collectively referred to in this free writing prospectus as the ‘‘599 Lexington Avenue Whole Loan.’’ The notes evidencing the 599 Lexington Avenue Whole Loan are collectively referred to in this free writing prospectus as the ‘‘599 Lexington Avenue Notes.’’

The 599 Lexington Avenue Pari Passu Companion Loan evidenced by promissory note A1 (the ‘‘599 Lexington Avenue A1 Pari Passu Companion Loan’’) is included in the trust fund established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP10. The 599 Lexington Avenue Pari Passu Companion Loans evidenced by promissory notes A3 and A4 are included in the trust fund established in connection with the issuance of the Credit Suisse Commercial Mortgage Trust Series 2007-C2, Commercial Mortgage Pass-Through Certificates, Series 2007-C2.

For purposes of the information presented in this free writing prospectus with respect to the 599 Lexington Avenue Loan, the debt service coverage ratio and the loan-to-value ratio reflect the aggregate indebtedness evidenced by the 599 Lexington Avenue Loan and the 599 Lexington Avenue Pari Passu Companion Loans.

Servicing.    The 599 Lexington Avenue Whole Loan will be serviced pursuant to the terms of the pooling and servicing agreement entered into in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage

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Pass-Through Certificates, Series 2007-LDP10 (the ‘‘2007-LDP10 Pooling and Servicing Agreement’’) and the related intercreditor agreement (the ‘‘599 Lexington Avenue Intercreditor Agreement’’). The 599 Lexington Avenue Intercreditor Agreement generally provides that the 599 Lexington Avenue Whole Loan will be serviced by the applicable master servicer (the ‘‘599 Lexington Avenue Master Servicer’’) and the applicable special servicer (the ‘‘599 Lexington Avenue Special Servicer’’) in accordance with the servicing standards under the 2007-LDP10 Pooling and Servicing Agreement.

Pursuant to the terms of the 599 Lexington Avenue Intercreditor Agreement, the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Special Servicer will be required to notify each holder of the 599 Lexington Avenue Notes in writing and obtain the written consent of the holders of 599 Lexington Avenue Notes representing greater than 50% of the outstanding principal balance of the 599 Lexington Avenue Notes (the ‘‘599 Lexington Avenue Majority Holders’’) with respect to certain servicing actions set forth below (provided that generally a failure by the 599 Lexington Avenue Majority Holders to object to any proposed action within 30 days (or such shorter time period required under the related mortgage loan documents for such consent will have the effect of a deemed consent)). Additionally, the holder of any 599 Lexington Avenue Note will have the right to consult with the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Special Servicer with respect to the servicing actions set forth below:

(1)    any proposed or actual foreclosure upon or comparable conversion (which may include acquisition of an REO property) of the ownership of the 599 Lexington Avenue Mortgaged Property;

(2)    any modification, consent to a modification or waiver of any monetary term or material non-monetary term of the 599 Lexington Avenue Whole Loan or material modification or waiver of any terms of the 599 Lexington Avenue Whole Loan relating to the nature or amount of required insurance coverage;

(3)    any proposed sale of the 599 Lexington Avenue Whole Loan or related REO Property for less than outstanding principal balance of the 599 Lexington Avenue Whole Loan plus all accrued and unpaid interest thereon;

(4)    any determination to bring an REO Property related to the 599 Lexington Avenue Whole Loan into compliance with applicable environmental laws or to address hazardous materials located at a related REO Property;

(5)    any release of collateral or any acceptance of substitute or additional collateral for the 599 Lexington Avenue Whole Loan (other than pursuant to the specific terms of the related mortgage loan documents);

(6)    any waiver of a ‘‘due-on-sale’’ or ‘‘due-on-encumbrance’’ clause with respect to the 599 Lexington Avenue Whole Loan or consent to a transfer of the 599 Lexington Avenue Mortgaged Property or interests in the related borrower (other than pursuant to the specific terms of the related mortgage loan documents);

(7)    any property management company changes with respect to the 599 Lexington Avenue Whole Loan as to which lender is required to consent or approve under the related mortgage loan documents;

(8)    releases of any escrow accounts, reserve accounts or letters of credit held as performance escrows or reserves with respect to the 599 Lexington Avenue Whole Loan, in an amount greater than or equal to $1,500,000 (other than those required pursuant to the specific terms of the related mortgage loan documents);

(9)    any acceptance of an assumption agreement releasing the related borrower from liability under the 599 Lexington Avenue Whole Loan (other than pursuant to the specific terms as provided under the related mortgage loan documents);

(10)    any approval of a material capital expenditure, if lenders’ approval is required under the related mortgage loan documents; and

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(11)    any adoption or approval of a plan in bankruptcy of the related borrower under the 599 Lexington Avenue Whole Loan.

Notwithstanding the above, no advice, direction or objection from or by the 599 Lexington Avenue Majority Holders may (and the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Special Servicer, as applicable, shall ignore and act without regard to any such advice, direction or objection that the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Special Servicer has determined, in its reasonable, good faith judgment, will) require, cause or permit the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Special Servicer, as applicable, to violate any provision of the 599 Lexington Avenue Intercreditor Agreement or the 2007-LDP10 Pooling and Servicing Agreement (including the 599 Lexington Avenue Master Servicer’s and the 599 Lexington Avenue Special Servicer’s obligation to act in accordance with the servicing standards under the 2007-LDP10 Pooling and Servicing Agreement), the related mortgage loan documents or applicable law or result in an adverse REMIC event or an adverse grantor trust event.

If a servicing event of default with respect to the 599 Lexington Avenue Master Servicer under the 2007-LDP10 Pooling and Servicing Agreement has occurred and remains unremedied that materially and adversely affects the holder of the 599 Lexington Avenue Loan, the 599 Lexington Avenue A3 Pari Passu Companion Loan or the 599 Lexington Avenue A4 Pari Passu Companion Loan, the 599 Lexington Avenue Majority Holders will have the right to require the 599 Lexington Avenue Master Servicer to appoint a sub-servicer solely with respect to the 599 Lexington Avenue Whole Loan, subject to confirmation by the Rating Agencies that such appointment will not cause the downgrade, qualification or withdrawal of the ratings on any securities backed by the 599 Lexington Avenue Loan or any 599 Lexington Avenue Pari Passu Companion Loan.

Sale of Defaulted Mortgage Loan.    Under the 2007-LDP10 Pooling and Servicing Agreement, if the 599 Lexington Avenue A1 Pari Passu Companion Loan is subject to a fair value purchase option, the 599 Lexington Avenue Special Servicer will be required to determine the purchase price for the 599 Lexington Avenue Loan, the 599 Lexington Avenue A3 Pari Passu Companion Loan and the 599 Lexington Avenue A4 Pari Passu Companion Loan. Each option holder specified under the 2007-LDP10 Pooling and Servicing Agreement will have an option to purchase the 599 Lexington Avenue A1 Pari Passu Companion Loan and the holders of the 599 Lexington Avenue Loan, the 599 Lexington Avenue A3 Pari Passu Companion Loan and the 599 Lexington Avenue A4 Pari Passu Companion Loan (or their designees) will have an option to purchase their related loan, at the purchase price determined by the 599 Lexington Avenue Special Servicer pursuant to and in accordance with the 2007-LDP10 Pooling and Servicing Agreement.

Distributions.    Pursuant to the 599 Lexington Avenue Intercreditor Agreement, all payments, proceeds and other recoveries on or in respect of the 599 Lexington Avenue Loan and/or the 599 Lexington Avenue Pari Passu Companion Loans (in each case, subject to the rights of the 599 Lexington Avenue Master Servicer, the 599 Lexington Avenue Special Servicer and the trustee under the 2007-LDP10 Pooling and Servicing Agreement (and the master servicer and the trustee under any other pooling and servicing agreement relating to the 599 Lexington Avenue Pari Passu Companion Loans and any other service providers with respect to the 599 Lexington Avenue Pari Passu Companion Loans) to payments and reimbursements pursuant to and in accordance with the terms of the 2007-LDP10 Pooling and Servicing Agreement) will be applied to the 599 Lexington Avenue Loan and the 599 Lexington Avenue Pari Passu Companion Loans on a pro rata and pari passu basis according to their respective outstanding principal balances.

The AmeriCold Portfolio Whole Loan

The Loans.    One (1) mortgage loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus) (the ‘‘AmeriCold Portfolio Loan’’), representing approximately 1.1% of the Initial Pool Balance (approximately 1.3% of the Initial Loan Group 1 Balance), is part of a split loan structure comprised of five mortgage loans, each of which is secured by the same mortgage

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instrument on the same underlying Mortgaged Property (the ‘‘AmeriCold Portfolio Mortgaged Property’’). The AmeriCold Portfolio Loan is evidenced by promissory note A-2C and has an outstanding principal balance of $35,000,000 as of the Cut-off Date. The mortgage loans evidenced by promissory notes A-2A, A-2B, A-1A and A-1B (with outstanding principal balances of $70,000,000, $35,000,000, $180,000,000 and $30,000,000, respectively) are collectively referred to in this free writing prospectus as the ‘‘AmeriCold Portfolio Pari Passu Companion Loans.’’ The AmeriCold Portfolio Pari Passu Companion Loans are not included in the trust. Only the AmeriCold Portfolio Loan is included in the trust. The AmeriCold Portfolio Loan and the AmeriCold Portfolio Pari Passu Companion Loans are pari passu with each other and are referred to in this free writing prospectus as the ‘‘AmeriCold Portfolio Notes.’’ The AmeriCold Portfolio Loan and the AmeriCold Portfolio Pari Passu Companion Loans are collectively, referred to in this free writing prospectus as the ‘‘AmeriCold Portfolio Whole Loan.’’

The AmeriCold Portfolio Pari Passu Companion Loan evidenced by promissory note A-2A is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18, Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC18. The AmeriCold Portfolio Pari Passu Companion Loan evidenced by promissory note A-2B is included in the trust established in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-LDP10, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP10. The AmeriCold Portfolio Pari Passu Companion Loan evidenced by promissory note A-1A is included in the trust established in connection with the issuance of the CD 2007-CD4 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-CD4. The AmeriCold Portfolio Pari Passu Companion Loan evidenced by promissory note A-1B is included in the trust established in connection with the issuance of the GE Commercial Mortgage Corporation, Series 2007-C1 Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C1.

The holders of the AmeriCold Portfolio Notes (the ‘‘AmeriCold Portfolio Noteholders’’) have entered into an intercreditor agreement that sets forth the respective rights of each AmeriCold Portfolio Noteholder (the ‘‘AmeriCold Portfolio Intercreditor Agreement’’). Pursuant to the terms of the AmeriCold Portfolio Intercreditor Agreement, the AmeriCold Portfolio Whole Loan will be serviced and administered pursuant to the pooling and servicing agreement entered into in connection with the issuance of the J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18, Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC18 (the ‘‘2007-CIBC18 Pooling and Servicing Agreement’’). The AmeriCold Portfolio Intercreditor Agreement provides that expenses, losses and shortfalls relating to the AmeriCold Portfolio Whole Loan will be allocated, on a pro rata and pari passu basis, to the AmeriCold Portfolio Noteholders.

As described under ‘‘Servicing of the Mortgage Loans—The Directing Certificateholder’’ in this free writing prospectus, the directing certificateholder of the CD 2007-CD4 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-CD4, the holder of the AmeriCold Portfolio A-1A Pari Passu Companion Loan (the ‘‘AmeriCold Portfolio Directing Certificateholder’’), has the right to direct the AmeriCold Portfolio Primary Servicer and the AmeriCold Portfolio Special Servicer with respect to certain actions set forth below, and the AmeriCold Portfolio Directing Certificateholder is required to consult on a non-binding basis with the holder of the AmeriCold Portfolio Loan (the applicable Master Servicer or the Special Servicer, as the case may be (in each case, in consultation with the Directing Certificateholder) will be the holder of the AmeriCold Portfolio Loan for this purpose), with respect to such actions (in the event that the AmeriCold Portfolio Directing Certificateholder and the holder of the AmeriCold Portfolio Loan disagree, the AmeriCold Portfolio Intercreditor Agreement provides that the AmeriCold Portfolio Directing Certificateholder’s decision will be binding upon the holder of the AmeriCold Portfolio Loan):

(1)    any modification of, or waiver with respect to, the AmeriCold Portfolio Whole Loan that would result in the extension of the maturity date, a reduction in the interest rate or the monthly debt service payment or a deferral or a forgiveness of interest on or principal of

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the AmeriCold Portfolio Whole Loan or a modification or waiver of any other monetary term of the AmeriCold Portfolio Whole Loan relating to the amount of any payment of principal or interest or any other sums due and payable under the AmeriCold Portfolio Whole Loan documents or a modification or waiver of any material non-monetary provision of the AmeriCold Portfolio Whole Loan, including, but not limited to, provisions that restrict the related borrower or its equity owners from incurring additional indebtedness or transferring interests in the AmeriCold Portfolio Mortgaged Property or the related borrower;

(2)    any modification of, or waiver with respect to, the AmeriCold Portfolio Whole Loan that would result in a discounted pay-off of the AmeriCold Portfolio Whole Loan;

(3)    any foreclosure upon or comparable conversion (which may include acquisition of an REO property) of the ownership of the AmeriCold Portfolio Mortgaged Property or any acquisition of the AmeriCold Portfolio Mortgaged Property by deed-in-lieu of foreclosure or any other exercise of remedies following an event of default;

(4)    any sale of all or any portion of the AmeriCold Portfolio Mortgaged Property or REO property;

(5)    any action to bring the AmeriCold Portfolio Mortgaged Property or REO property into compliance with any laws relating to hazardous materials;

(6)    the sale of the AmeriCold Portfolio Whole Loan for less than the outstanding principal balance of the AmeriCold Portfolio Whole Loan plus all accrued and unpaid interest thereon;

(7)    any substitution or release of collateral for the AmeriCold Portfolio Whole Loan;

(8)    any release of the related borrower or guarantor from liability with respect to the AmeriCold Portfolio Whole Loan including, without limitation, by acceptance of an assumption of the AmeriCold Portfolio Whole Loan by a successor borrower or replacement guarantor;

(9)    any determination not to enforce a ‘‘due-on-sale’’ or ‘‘due-on-encumbrance’’ clause (unless such clause is not exercisable under applicable law or such exercise is reasonably likely to result in successful legal action by the related borrower);

(10)    any transfer of the AmeriCold Portfolio Mortgaged Property or any portion thereof, or any transfer of any direct or indirect ownership interest in the related borrower by a person entitled to exercise voting rights, directly or indirectly, in the related borrower, except in each case as expressly permitted by the AmeriCold Portfolio Whole Loan documents;

(11)    any incurring of additional debt by the related borrower, including the terms of any document evidencing or securing any such additional debt and of any intercreditor or subordination agreement executed and any waiver of or amendment or modification to the terms of any such document or agreement or incurring of mezzanine financing by any beneficial owner of the related borrower, including the terms of any document evidencing or securing any such mezzanine debt and of any intercreditor or subordination agreement executed and any waiver of or amendment or modification to the terms of any such document or agreement;

(12)    any approval of a replacement special servicer for the AmeriCold Portfolio Whole Loan (other than in connection with the Trustee’s becoming the successor special servicer upon the occurrence of an event of default under the 2007-CIBC18 Pooling and Servicing Agreement with respect to the AmeriCold Portfolio Special Servicer);

(13)    consenting to any modification or waiver of any provision of any AmeriCold Portfolio Whole Loan documents governing the types, nature or amounts of insurance coverage required to be obtained and maintained by the related borrower;

(14)    approval of any renewal or replacement of the then existing insurance policies (to the extent the lender’s approval is required by the AmeriCold Portfolio Whole Loan documents);

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(15)    the execution, renewal or material modification of any major lease, to the extent lender approval is required by the AmeriCold Portfolio Whole Loan documents;

(16)    approval of the termination or replacement of a manager or of the execution, termination, renewal or material modification of any management agreement, to the extent lender approval is required by the AmeriCold Portfolio Whole Loan documents;

(17)    any waiver of amounts required to be deposited into escrow reserve accounts under the AmeriCold Portfolio Whole Loan documents, or any amendment to any of the AmeriCold Portfolio Whole Loan documents that would modify the amount required to be deposited into reserve accounts established under the AmeriCold Portfolio Whole Loan documents (other than changes in the ordinary course of business of the amounts required to be deposited into escrow accounts for real estate taxes, insurance premiums or ground rents, if any);

(18)    the settlement of any insurance claim or condemnation proceeding for a cash payment that will be applied to the principal amount of the AmeriCold Portfolio Whole Loan, if such settlement would result in a shortfall of amounts due and payable to the AmeriCold Portfolio Noteholders;

(19)    the approval or adoption of any annual budget for, or material alteration at, the AmeriCold Portfolio Mortgaged Property (if lender approval is required by the AmeriCold Portfolio Whole Loan documents);

(20)    (A) the release to the related borrower of any escrow to which the related borrower is not entitled under the AmeriCold Portfolio Whole Loan documents or under applicable law; and (B) the approval of significant repair or renovation projects (other than in connection with casualty or condemnation events) that are intended to be funded through the disbursement of any funds from any reserve accounts established in accordance with the AmeriCold Portfolio Whole Loan documents (to the extent the lender’s consent is required by the AmeriCold Portfolio Whole Loan documents); or

(21)    the waiver or modification of any documentation relating to the guarantor’s obligations under the guaranty.

Servicing.    The AmeriCold Portfolio Intercreditor Agreement generally provides that the AmeriCold Portfolio Whole Loan will be serviced by the primary servicer (the ‘‘AmeriCold Portfolio Primary Servicer’’) and the applicable special servicer (the ‘‘AmeriCold Portfolio Special Servicer’’) according to the servicing standards under the 2007-CIBC18 Pooling and Servicing Agreement.

Distributions.    Under the terms of the AmeriCold Portfolio Intercreditor Agreement, any payment (whether principal or interest or prepayment under the AmeriCold Portfolio Notes, or proceeds relating to the AmeriCold Portfolio Mortgaged Property (in each case, subject to the rights of the master servicer, the primary servicer, the special servicer, the depositor, the trustee, Wells Fargo Bank, N.A., in its capacity as paying agent and any related sub-servicer to payments and reimbursements pursuant to and in accordance with the terms of the 2007-CIBC18 Pooling and Servicing Agreement)) will be applied to the AmeriCold Portfolio Loan and the AmeriCold Portfolio Pari Passu Companion Loans on a pro rata and pari passu basis according to their respective outstanding principal balances.

AB Mortgage Loan Pairs

General

Each AB Mortgage Loan is evidenced by the senior of two notes each secured by a single Mortgage and a single assignment of leases and rents. The AB Subordinate Companion Loan relating to each AB Mortgage Loan, which is in each case evidenced by the subordinate of the two notes, will not be part of the trust fund.

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Each AB Mortgage Loan and the related AB Subordinate Companion Loan are cross-defaulted. For purposes of the information presented in this free writing prospectus with respect to each AB Mortgage Loan, unless otherwise specified, the LTV Ratio and DSCR reflect only the AB Mortgage Loan and do not take into account the related AB Subordinate Companion Loan.

The trust, as the holder of each AB Mortgage Loan, and the holder of the related AB Subordinate Companion Loan will be parties to a separate intercreditor agreement (each, an ‘‘Intercreditor Agreement’’). Under the terms of each Intercreditor Agreement, the holder of the related AB Subordinate Companion Loan has agreed to subordinate its interest in certain respects to the related AB Mortgage Loan. The applicable Master Servicer and Special Servicer will undertake to perform the obligations of the holder of each AB Mortgage Loan under the related Intercreditor Agreement.

The AB Mortgage Loan Pairs and the related Mortgaged Properties will be serviced and administered by the applicable Master Servicer and, if necessary, the Special Servicer, pursuant to the Pooling and Servicing Agreement, in the manner described under ‘‘Servicing of the Mortgage Loans’’ in this free writing prospectus, but subject to the terms of the related Intercreditor Agreement to the extent set forth in such Intercreditor Agreement. In servicing any AB Mortgage Loan Pair, the Servicing Standards set forth in the Pooling and Servicing Agreement will require the applicable Master Servicer and the Special Servicer to take into account the interests of both the Certificateholders and the holder of the related AB Subordinate Companion Loans as a collective whole. The Master Servicers and the Special Servicer have the initial authority to service and administer, and to exercise the rights and remedies with respect to the AB Mortgage Loan Pairs.

Amounts payable to the trust as holder of any AB Mortgage Loan pursuant to the related Intercreditor Agreement will be included in the Available Distribution Amount for each Distribution Date to the extent described in this free writing prospectus and amounts payable to the holder of the related AB Subordinate Companion Loan will be distributed to such holder net of certain fees and expenses on the related AB Subordinate Companion Loan as set forth in the related Intercreditor Agreement.

Mezz Cap AB Mortgage Loans

Servicing Provisions of the Mezz Cap Loan Pairs’ Intercreditor Agreements.    The applicable Master Servicer and the Special Servicer will service and administer each Mezz Cap AB Mortgage Loan and the related AB Subordinate Companion Loan pursuant to the Pooling and Servicing Agreement and the related Intercreditor Agreement for so long as the related Mezz Cap AB Mortgage Loan is part of the trust; provided, that prior to an event of default under the related mortgage loan documents with respect to a Mezz Cap AB Mortgage Loan, the servicer of the related AB Subordinate Companion Loan (which may or may not be a Master Servicer or the sub-servicer with respect to such Mezz Cap AB Mortgage Loan) will collect its principal and interest payments directly from the borrower. The applicable Master Servicer and/or the Special Servicer may not enter into amendments, modifications or extensions of any Mezz Cap AB Mortgage Loan or the related AB Subordinate Companion Loan if the proposed amendment, modification or extension adversely affects the holder of the related AB Subordinate Companion Loan in a material manner without the consent of the holder of the related AB Subordinate Companion Loan; provided, however, that such consent right will expire when the repurchase period described below expires. See ‘‘Servicing of the Mortgage Loans—The Directing Certificateholder’’ in this free writing prospectus.

Application of Payments on the Mezz Cap Loan Pairs.    Pursuant to each of the related Intercreditor Agreements and prior to the occurrence of (i) the acceleration of a Mezz Cap AB Mortgage Loan or the related AB Subordinate Companion Loan, (ii) a monetary event of default or (iii) an event of default triggered by the bankruptcy of the borrower or other insolvency proceedings affecting the borrower, the borrower will make separate monthly payments of

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principal and interest to the applicable Master Servicer and the servicer of the related AB Subordinate Companion Loan. Any escrow and reserve payments required in respect of any Mezz Cap AB Mortgage Loan or the related AB Subordinate Companion Loan will be paid to the applicable Master Servicer.

Following the occurrence and during the continuance of (i) the acceleration of a Mezz Cap AB Mortgage Loan or its related AB Subordinate Companion Loan, (ii) a monetary event of default or (iii) an event of default triggered by the bankruptcy of the borrower or other insolvency proceedings affecting the borrower, and subject to certain rights of the holder of the related AB Subordinate Companion Loan to purchase the related Mezz Cap AB Mortgage Loan from the trust, all payments and proceeds (of whatever nature) on the related AB Subordinate Companion Loan will be subordinated to all payments due on the related Mezz Cap AB Mortgage Loan, and the amounts with respect to such Mezz Cap AB Mortgage Loan and the related AB Subordinate Companion Loan will be paid:

First, to the applicable Master Servicer, Special Servicer, Trustee or Paying Agent, up to the amount of any unreimbursed costs and expenses paid by such entity, including unreimbursed advances and interest on those amounts;

Second, to the applicable Master Servicer and the Special Servicer, in an amount equal to the accrued and unpaid servicing fees earned by such entity with respect to the Mezz Cap AB Mortgage Loan and the related AB Subordinate Companion Loan;

Third, to the trust, in an amount equal to interest due with respect to the Mezz Cap AB Mortgage Loan (excluding any default interest);

Fourth, to the trust, in an amount equal to the principal balance of the Mezz Cap AB Mortgage Loan until paid in full;

Fifth, to the trust, in an amount equal to any prepayment premium, to the extent actually paid, allocable to the Mezz Cap AB Mortgage Loan;

Sixth, to the holder of the related AB Subordinate Companion Loan, up to the amount of any unreimbursed costs and expenses paid by the holder of the related AB Subordinate Companion Loan;

Seventh, to the holder of the related AB Subordinate Companion Loan, in an amount equal to interest due with respect to the related AB Subordinate Companion Loan (excluding any default interest);

Eighth, to the holder of the related AB Subordinate Companion Loan, in an amount equal to the principal balance of the related AB Subordinate Companion Loan until paid in full;

Ninth, to the holder of the related AB Subordinate Companion Loan, in an amount equal to any prepayment premium, to the extent actually paid, allocable to the related AB Subordinate Companion Loan;

Tenth, to the trust, in an amount equal to any unpaid default interest accrued on the Mezz Cap AB Mortgage Loan, until paid in full, and then to the holder of the related AB Subordinate Companion Loan in an amount equal to default interest accrued on the related AB Subordinate Companion Loan;

	•	to the trust and the holder of the related AB Subordinate Companion Loan on a pro rata basis based on initial principal balances, in an amount equal to late payment charges actually received or collected, other than prepayment premiums or default interest, that are not payable to any of the Master Servicers, the Special Servicer or the Trustee; and

	•	any excess, to the trust as holder of the Mezz Cap AB Mortgage Loan and the holder of the related AB Subordinate Companion Loan, pro rata, based upon the outstanding principal balances.

Application of Amounts Paid to the Trust in Respect of the Mezz Cap AB Mortgage Loans. Amounts payable to the trust as holder of the Mezz Cap AB Mortgage Loans pursuant to the

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related Intercreditor Agreements will be included in the Available Distribution Amount for each Distribution Date to the extent described in this free writing prospectus and amounts payable to the holders of the related AB Subordinate Companion Loans will be distributed to such holders net of fees and expenses on the related AB Subordinate Companion Loans.

Purchase Options.    In the event that (i) any payment of principal or interest on a Mezz Cap AB Mortgage Loan or its related AB Subordinate Companion Loan becomes 90 or more days delinquent, (ii) the principal balance of a Mezz Cap AB Mortgage Loan or its related AB Subordinate Companion Loan has been accelerated, (iii) the principal balance of a Mezz Cap AB Mortgage Loan or its related AB Subordinate Companion Loan is not paid at maturity, (iv) the borrower under a Mezz Cap AB Mortgage Loan or its related AB Subordinate Companion Loan declares bankruptcy or is otherwise the subject of a bankruptcy proceeding or (v) any other event where the cash flow payment under the related AB Subordinate Companion Loan has been interrupted and payments are made pursuant to the event of default waterfall, the holder of the related AB Subordinate Companion Loan will be entitled to purchase the related Mezz Cap AB Mortgage Loan from the trust for a period of 30-days after its receipt of a repurchase option notice from the applicable Master Servicer or Special Servicer (on behalf of the trust) of the occurrence of one of the foregoing events, subject to certain conditions set forth in the related Intercreditor Agreement. The purchase price will generally equal the unpaid principal balance of the related Mezz Cap AB Mortgage Loan, together with all unpaid interest (and, if the date of purchase is not a payment date, accrued and unpaid interest up to the payment date next succeeding the date of the purchase) on such Mezz Cap AB Mortgage Loan (other than default interest) at the related mortgage rate and any outstanding servicing expenses, advances and interest on advances for which the borrower under such Mezz Cap AB Mortgage Loan is responsible. Unless the borrower or an affiliate is purchasing a related Mezz Cap AB Mortgage Loan, no prepayment consideration will be payable in connection with such purchase of a Mezz Cap AB Mortgage Loan.

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Top Fifteen Mortgage Loans

The following table shows certain information regarding the fifteen largest mortgage loans by Cut-off Date Balance:

Loan Name			Loan Group						Cut-off Date Balance						% of Initial Pool Balance						Loan per Unit						UW DSCR(1)(2)						Cut-off LTV Ratio(2)						Property Type
599 Lexington Avenue					1					$	225,000,000						6.8	%				$	728						1.25x						75.0	%			Office
River City Marketplace					1						110,000,000						3.3					$	197						1.29x						78.6	%			Retail
Sabre Headquarters					1						85,000,000						2.6					$	179						1.23x						77.3	%			Office
Green Hills Corporate Center					1						65,000,000						2.0					$	111						1.39x						80.0	%			Office
Cabot Industrial Portfolio V					1						60,000,000						1.8					$	31						1.67x						73.8	%			Industrial
Crowne Plaza Metro Chicago					1						51,500,000						1.6					$	129,397						1.30x						64.9	%			Hotel
St. Julien Hotel & Spa					1						45,000,000						1.4					$	223,881						1.38x						67.1	%			Hotel
Marriott – Farmington					1						43,879,038						1.3					$	115,168						1.43x						71.8	%			Hotel
Doubletree Guest Suites					1						39,800,000						1.2					$	157,312						1.42x						75.7	%			Hotel
Temple U Health System Headquarters					1						38,000,000						1.2					$	143						1.16x						79.2	%			Office
Marriott – Memphis					1						38,000,000						1.2					$	119,122						1.60x						75.1	%			Hotel
Harrisburg Portfolio					1						36,500,000						1.1					$	102						1.22x						78.2	%			Office
Bronx Apartment Portfolio					2						36,500,000						1.1					$	74,490						1.39x						77.2	%			Multifamily
Peartree Square					1						35,500,000						1.1					$	254						1.46x						77.7	%			Retail
Lincoln Place Shopping Center					1						35,432,000						1.1					$	192						1.41x						80.0	%			Retail
Total Weighted Average										$	945,111,038						28.7	%											1.34x						75.5	%

(1) The UW DSCR for each partial interest-only loan was calculated based on the first principal and interest payment made into the trust during the term of the loan.

(2) Calculated based upon the aggregate principal balance and debt service of the 599 Lexington Avenue Loan and 599 Lexington Avenue Pari Passu Companion Loans and the AmeriCold Portfolio Loan and AmeriCold Portfolio Pari Passu Companion Loans, each as of the Cut-off Date.

For more information regarding the fifteen largest mortgage loans and related Mortgaged Properties, see the individual mortgage loan and portfolio descriptions under ‘‘Description of Top Fifteen Mortgage Loans’’ in Annex A-3 to this free writing prospectus.

Certain Terms and Conditions of the Mortgage Loans

Mortgage Loans.    The mortgage loans have due dates that occur on the day of each month as set forth in the following table:

Overview of Due Dates

Due Date			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
1st					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

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The mortgage loans have grace periods as set forth in the following table:

Overview of Grace Periods

Grace Period (Days)			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
0					2					$	124,172,000						3.8	%					4.6	%					0.0	%
5					18						661,724,821						20.1						20.7						17.3
7					195						2,237,412,572						68.0						70.2						58.4
8					2						44,024,000						1.3						1.6						0.0
10					24						212,573,111						6.5						2.5						24.3
15					1						8,900,000						0.3						0.3						0.0
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

As used in this free writing prospectus, ‘‘grace period’’ is the number of days following the due date before a payment default under each mortgage loan.

In some cases, there are exceptions to the strict operation of the grace period (or lack thereof), allowing a notice and cure right, for example, prior to acceleration of the mortgage loan or in the event that the failure to make timely principal and interest payments is relatively infrequent.

The mortgage loans accrue interest on the basis of (i) the actual number of days in a month, assuming a 360-day year (‘‘Actual/360 Basis’’) or (ii) on the basis of a 30-day month for 12 months (‘‘30/360’’), as set forth in the following table:

Interest Accrual Basis

Accrual			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Actual/360					240					$	3,269,706,504						99.4	%					100.0	%					96.8	%
30/360					2						19,100,000						0.6						0.0						3.2
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

The mortgage loans have the amortization characteristics set forth in the following table:

Amortization Types

Amort Type			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Balloon Loans
Partial Interest Only					116					$	1,384,650,000						42.1	%					42.8	%					38.8	%
Interest Only					64						1,301,556,000						39.6						36.5						53.7
Balloon					61						576,707,886						17.5						19.8						7.5
Subtotal					241					$	3,262,913,886						99.2	%					99.0	%					100.0	%
Fully Amortizing Loans					1					$	25,892,618						0.8	%					1.0	%					0.0	%
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

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Prepayment Provisions.    Most mortgage loans prohibit any prepayments or Defeasance for a specified period of time after its date of origination (a ‘‘Lockout Period’’). In addition, each mortgage loan restricts voluntary prepayments or Defeasance in one of the following ways, subject in each case to any described open periods:

Overview of Prepayment Protection⁽¹⁾

Prepayment Protection			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
Defeasance					205					$	2,889,973,477						87.9	%					87.7	%					88.8	%
Yield Maintenance					26						214,858,369						6.5						5.5						11.2
Yield Maintenance, Defeasance/Yield Maintenance					1						85,000,000						2.6						3.2						0.0
Defeasance, Defeasance/Yield Maintenance					4						37,692,112						1.1						1.4						0.0
Defeasance, Defeasance/Fixed Penalty					3						35,963,123						1.1						1.3						0.0
Yield Maintenance, Fixed Penalty					2						15,569,422						0.5						0.6						0.0
Defeasance, Fixed Penalty					1						9,750,000						0.3						0.4						0.0
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

(1) See Annex A-1 to this free writing prospectus for specific criteria applicable to the mortgage loans.

With respect to certain mortgage loans, ‘‘Yield Maintenance Charge’’ will generally, subject to variations, be equal to the greater of (i) a specified percentage of the amount being prepaid or (ii) the present value, as of the prepayment date, of the remaining scheduled payments of principal and interest (including any balloon payment) from the prepayment date through the date specified in the related mortgage loan documents (which will generally be the maturity date or the first date on which the borrower can prepay without a yield maintenance charge) determined by discounting such payments at the ‘‘Discount Rate,’’ defined below (or as stated in the related loan documents), less the amount of principal being prepaid.

With respect to certain mortgage loans, ‘‘Yield Maintenance Charge’’ will generally, subject to variations, be equal to the greater of (i) a specified percentage of the amount being prepaid or (ii) the present value, as of the prepayment date, of a series of ‘‘Monthly Amounts’’ assumed to be paid at the end of each month remaining from the prepayment date through the date specified in the related mortgage loan documents (which will generally be the maturity date or the first date on which the borrower can prepay without a yield maintenance charge), discounted at the ‘‘Discount Rate.’’ ‘‘Monthly Amount’’ will generally mean the note rate of such mortgage loan less the Discount Rate divided by 12 and the quotient thereof then multiplied by the amount being prepaid.

The term ‘‘Discount Rate’’ referred to in the preceding two paragraphs generally means the yield on a U.S. Treasury security that has the most closely corresponding maturity date to the maturity date, or the remaining weighted average life, of the mortgage loan, and in some cases, converted to a monthly equivalent yield (as described in the respective loan documents).

Yield Maintenance Charges and any prepayment premiums are distributable as described in this free writing prospectus under ‘‘Description of the Certificates—Allocation of Yield Maintenance Charges and Prepayment Premiums.’’

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The mortgage loans generally permit voluntary prepayment without the payment of a Yield Maintenance Charge or any prepayment premium during an ‘‘open period’’ immediately prior to and including the stated maturity date set forth in the following table:

Prepayment Open Periods⁽¹⁾

Open Period (No. of Payments)			Number of Mortgage Loans						Aggregate Principal Balance of Mortgage Loans						% of Initial Pool Balance						% of Initial Loan Group 1 Balance						% of Initial Loan Group 2 Balance
2					10					$	101,900,165						3.1	%					3.7	%					0.5	%
4					199						2,498,166,396						76.0						76.2						74.7
5					7						215,272,000						6.5						8.0						0.0
6					2						10,992,112						0.3						0.4						0.0
7					6						289,571,830						8.8						10.6						0.9
10					15						117,604,000						3.6						0.0						19.7
25					1						13,000,000						0.4						0.5						0.0
37					1						17,600,000						0.5						0.7						0.0
61					1						24,700,000						0.8						0.0						4.1
Total:					242					$	3,288,806,504						100.0	%					100.0	%					100.0	%

(1) See Annex A-1 to this free writing prospectus for specific criteria applicable to the mortgage loans.

Unless a mortgage loan is relatively near its stated maturity date unless the sale price or the amount of the refinancing of the related Mortgaged Property is considerably higher than the current outstanding principal balance of the mortgage loan (due to an increase in the value of the Mortgaged Property or otherwise) and depending on the interest rate environment at the time of prepayment, the Yield Maintenance Charge or prepayment premium may offset entirely or render insignificant any economic benefit to be received by a related borrower upon a refinancing or sale of its Mortgaged Property. The Yield Maintenance Charge or prepayment premium provision of a mortgage loan creates an economic disincentive for the borrower to prepay its mortgage loan voluntarily and, accordingly, the related borrower may elect not to prepay its mortgage loan. However, we cannot assure you that the imposition of a Yield Maintenance Charge or prepayment premium will provide a sufficient disincentive to prevent a voluntary principal prepayment or sufficient compensation to Certificateholders affected by a prepayment.

Certain state laws limit the amounts that a lender may collect from a borrower as an additional charge in connection with the prepayment of a mortgage loan. Certain mortgage loans require the payment of Yield Maintenance Charges or prepayment premiums in connection with a prepayment of the related mortgage loan with Insurance and Condemnation Proceeds as a result of a casualty or condemnation. Certain other of the mortgage loans do not require the payment of Yield Maintenance Charges or prepayment premiums in connection with a prepayment of the related mortgage loan with Insurance and Condemnation Proceeds as a result of a casualty or condemnation, provided that no event of default exists. In addition, certain of the mortgage loans permit the related borrower, after a partial casualty or partial condemnation, to prepay the remaining principal balance of the mortgage loan (after application of the related Insurance and Condemnation Proceeds to pay the principal balance of the mortgage loan), which may in certain cases not be accompanied by any prepayment consideration, provided that the prepayment of the remaining balance is made within a specified period of time following the date of the application of proceeds or award. Certain of the mortgage loans provide for a recast of the amortization schedule and an adjustment of the scheduled debt service payments on the mortgage loan upon application of specified amounts of Insurance and Condemnation Proceeds to pay the related unpaid principal balance. Certain of the mortgage loans provide for a recast of the amortization schedule and an adjustment of the scheduled debt service payments on the mortgage loan upon application of certain holdbacks, if such holdbacks are not used for their specified purpose, to pay the related unpaid principal balance of such mortgage loan. Such application of the holdback may require a payment of a corresponding amount of a yield

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maintenance charge or prepayment premium based upon the amount of the principal being paid. Furthermore, the enforceability, under the laws of a number of states, of provisions providing for payments comparable to the Yield Maintenance Charges or prepayment premiums upon an involuntary prepayment is unclear. We cannot assure you that, at the time a Yield Maintenance Charge or prepayment premium is required to be made on a mortgage loan in connection with an involuntary prepayment, the obligation to pay the Yield Maintenance Charge or prepayment premium will be enforceable under applicable state law. See ‘‘Certain Legal Aspects of Mortgage Loans—Default Interest and Limitations on Prepayments’’ in the prospectus.

Defeasance; Collateral Substitution; Property Releases.    The terms of 214 of the mortgage loans, representing approximately 93.0% of the Initial Pool Balance (163 mortgage loans in Loan Group 1, representing approximately 93.9% of the Initial Loan Group 1 Balance and 51 mortgage loans in Loan Group 2, representing approximately 88.8% of the Initial Loan Group 2 Balance), permit the applicable borrower on any due date after a specified period (the ‘‘Defeasance Lockout Period’’), provided no event of default exists, to obtain a release of all or a portion of a Mortgaged Property from the lien of the related Mortgage in exchange for a grant of a security interest in certain government securities (a ‘‘Defeasance’’). The Defeasance Lockout Period is at least two years from the Closing Date. The release is subject to certain conditions, including, among other conditions, that the borrower:

(a)    pays or delivers to the applicable Master Servicer on any due date (the ‘‘Release Date’’) (1) all interest accrued and unpaid on the principal balance of the Mortgage Note to but not including the Release Date, (2) all other sums due under the mortgage loan and all other loan documents executed in connection with the related mortgage loan, (3) funds to purchase direct non-callable obligations of the United States of America or, in certain cases, other U.S. government obligations providing payments (x) on or prior to all successive scheduled payment dates from the Release Date to the related maturity date (or, in some cases, the first day of the open period) including the balloon payment, and (y) in amounts at least equal to the scheduled payments due on those dates under the mortgage loan or the related defeased amount of the mortgage loan in the case of a partial defeasance (including any balloon payment), and (4) any costs and expenses incurred in connection with the purchase of the U.S. government obligations; and

(b)    delivers a security agreement granting the trust fund a first priority lien on the U.S. government obligations purchased as substitute collateral and an opinion of counsel relating to the enforceability of such security interest.

Except as described below, the mortgage loans secured by more than one parcel comprising the related Mortgaged Property that permit release of one or more of such parcels without releasing all such parcels by means of partial Defeasance generally require that either (or, in some cases, both) (1) prior to the release of such parcel, a specified percentage (generally between 110% and 125%) of the allocated loan amount for the Mortgaged Property be defeased and/or (2) certain DSCR and/or LTV Ratio tests (if applicable) be satisfied with respect to the remaining parcels comprising the related Mortgaged Property after the partial Defeasance.

Additionally, certain mortgage loans permit the release of the Mortgaged Properties securing such mortgage loans from cross-collateralization arrangements with the Mortgaged Properties securing other mortgage loans in certain circumstances under the terms of the related mortgage loan documents.

The related borrower or, if the borrower is not required to do so under the mortgage loan documents, the applicable Master Servicer, will be responsible for purchasing the U.S. government obligations on behalf of the borrower at the borrower’s expense. Simultaneously with these actions, the related Mortgaged Property will be released from the lien of the mortgage loan and the pledged U.S. government obligations (together with any Mortgaged Property not released, in the case of a partial Defeasance) will be substituted as the collateral securing the mortgage loan.

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In general, a successor borrower established or designated by the related borrower (or, if the borrower is not required or permitted to do so under the mortgage loan documents, established or designated by the applicable Master Servicer) will assume all of the defeased obligations of a borrower exercising a Defeasance option under a mortgage loan and the borrower will be relieved of all of the defeased obligations under the mortgage loan. In other cases, the existing borrower will remain liable for all of the defeased obligations, subject to the mortgage loan documents, after releasing the Mortgaged Property.

Although the collateral substitution provisions related to Defeasance are not intended to be, and do not have the same effect on the Certificateholders as, a prepayment of the related mortgage loan, a court could interpret these provisions as being equivalent to an unenforceable Yield Maintenance Charge or prepayment premium. We make no representation as to the enforceability of the defeasance provisions of any mortgage loan.

With respect to 1 mortgage loan (identified as Loan No. 6 on Annex A-1 to this free writing prospectus), representing approximately 1.6% of the Initial Pool Balance (approximately 1.9% of the Initial Group 1 Balance as of the Cut-off Date), there is currently located on the related Mortgaged Property a parking lot containing 106 parking spaces (the ‘‘Parking Lot Parcel’’). The income generated from the Parking Lot Parcel has been included in the mortgage loan seller’s underwriting of the related Mortgage Loan. The related Mortgage Loan documents permit the related Mortgagor to release the Parking Lot Parcel from the lien of the related Mortgage Loan documents upon satisfaction of certain conditions set forth in the related Mortgage Loan documents, including without limitation the following conditions: (i) the Debt Service Coverage Ratio (as defined in the related Mortgage Loan documents) is at least 1.30x for the related Mortgage Loan, except that for purposes of calculating Operating Income (as defined in the related Mortgage Loan Documents) only 50% of the trailing twelve month income from parking will be included; (ii) the related Mortgagor shall have provided the holder of the Mortgage Loan with evidence reasonably acceptable to a prudent lender that the related Mortgagor has replaced the parking spaces currently located on the Parking Lot Parcel with at least eighty-five (85) parking spaces (the ‘‘Replacement Parking’’), which Replacement Parking shall be (1) either (i) owned by the related Mortgagor, (ii) owned by an affiliate of the related Mortgagor with a perpetual easement and right of use in favor of the related Mortgagor and the related Mortgaged Property (after giving effect to the release of the Parking Lot Parcel), or (iii) controlled by the related Mortgagor through a perpetual easement, (2) for the exclusive use of the related Mortgagor, the related Mortgaged Property and all guests and invitees of the hotel operated at the related Mortgaged Property and (3) located in a single location and within a three (3) block radius of the Mortgaged Property (the foregoing including conditions (1), (2) and (3) are collectively, the ‘‘Permanent Replacement Parking Conditions’’); provided, however, that related Mortgagor may elect to lease temporary Replacement Parking until such time as the Replacement Parking becomes available on a permanent basis on the related Mortgaged Property, so long as (1) any such lease of parking shall be upon terms and conditions acceptable to a prudent lender, (2) the location of the temporary parking shall be located in a single location and within a three (3) block radius of the related Mortgaged Property and (3) the related Mortgagor shall have provided the holder of the Mortgage Loan with evidence, which would be acceptable to a prudent lender, that from and after the completion of the re-development of the released Parking Lot Parcel all Permanent Replacement Parking Conditions will be satisfied and in no event will the lease for such temporary parking spaces expire prior to the date that all such Permanent Replacement Parking Conditions are satisfied; and (iii) the related Mortgagor shall provide the holder of the related Mortgage Loan with evidence acceptable to a prudent lender that the annual expense of maintaining and operating the Replacement Parking shall not exceed the lesser of (y) $290,000 or (z) the actual cost incurred by the related Mortgagor in occupying, maintaining and operating the Parking Lot Parcel for the calendar year immediately preceding the date of the Release.

With respect to 1 mortgage loan (identified as Loan No. 35 on Annex A-1 to this free writing prospectus), representing approximately 0.7% of the Initial Pool Balance (approximately 0.8% of

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the Initial Group 1 Balance as of the Cut-off Date), the borrower is permitted to obtain the release of a portion of the Mortgaged Property (described in the related Mortgage and hereinafter referred to as the ‘‘Release Parcel’’) that is currently improved with a parking lot. No payment of principal is required in connection with the release of the Release Parcel, and the borrower is not required to comply with any financial tests, but the remaining property must meet zoning code requirements and a restrictive covenant must be recorded against the Release Parcel stating that any future use of the Release Parcel will not be in violation of any provision with respect to parking, access rights, visibility, restricted uses, site improvements, signage or naming rights contained in any then-existing lease of the remaining Mortgaged Property. As of the closing date of the mortgage loan, the release of the Release Parcel would violate parking ratios contained in two of the leases demising premises on the Mortgaged Property if those two leases were still in effect at the time of the release of the Release Parcel and if no additional parking were obtained or created for the Mortgaged Property. In the event that the Release Parcel is released and either such tenant terminates its lease as a result, the related Mortgagor (as lessor) and the indemnitors with respect to this mortgage loan (as lessees) are required to enter into a master lease with respect to the terminated space(s), for rents equal to that payable under the terminated lease(s) and for a term ending on the earlier to occur of 5 years after commencement and the commencement of rent under a lease to a tenant in occupancy of the related space.

With respect to 1 mortgage loan (identified as Loan No. 57 on Annex A-1 to this free writing prospectus), representing approximately 0.5% of the Initial Pool Balance (approximately 0.6% of the Initial Group 1 Balance as of the Cut-off Date), the related borrower may obtain the release of the mortgaged property by substituting another property of similar use acquired by the borrower, subject, in each case, to the fulfillment, among other things, of the following conditions: (i) the borrower pays to the holder of the mortgage loan an amount equal to one percent (1%) of the outstanding principal balance of the mortgage loan as of the date of such proposed substitution, (ii) the fair market value of the substitute property is not less than one hundred five percent (105%) of the greater of (x) the fair market value of the substituted property as of the origination date of the mortgage loan and (y) the fair market value of the substituted property as of the date immediately preceding the substitution, (iii) after giving effect to the substitution, the debt service coverage ratio for the mortgage loan is not less than the greater of (x) the debt service coverage ratio for the mortgage loan as of the origination date of the mortgage loan and (y) the debt service coverage ratio for the mortgage loan as of the date immediately preceding the substitution, (iv) receipt by the lender of a confirmation in writing from the rating agencies to the effect that such substitution will not result in a withdrawal, qualification or downgrade of the respective ratings of the Certificates in effect immediately prior to such substitution, and (v) no event of default shall have occurred and be continuing under the terms of the related mortgage loan documents.

With respect to 1 mortgage loan (identified as Loan No. 204 on Annex A-1 to this free writing prospectus), representing approximately 0.1% of the Initial Pool Balance (approximately 0.2% of the Initial Group 1 Balance as of the Cut-off Date), the mortgage loan is secured by a property that is leased to a single tenant. The lease to that tenant provides, in part, that if the tenant wishes to terminate its business operations on the property that now secures this loan, the tenant may identify a replacement property and, if the replacement property meets certain conditions, then the tenant may cause the borrower under this mortgage loan to acquire the replacement property, so that the replacement property is leased to the tenant and encumbered by a mortgage to secure this mortgage loan; one of the conditions that the lease requires is that the holder of this mortgage loan permit the substitution. In that regard, the related mortgage loan documents impose various requirements as conditions precedent to the substitution, including, without limitation, that the substitution not pose a material risk to the Trust’s continued qualification as a REMIC.

With respect to 1 mortgage loan (identified as Loan No. 141 on Annex A-1 to this free writing prospectus), representing approximately 0.2% of the Initial Pool Balance (approximately

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0.3% of the Initial Group 1 Balance as of the Cut-off Date)—the borrower is permitted to release a portion of the Mortgaged Property (which must be unimproved and non-income producing as of the closing date of the mortgage loan and as of the release date), provided that such release will not have an adverse effect on the use or operation of the remaining property or improvements (including the use of the property by any tenant) and that the remaining property will have a loan to value ratio of no more than 80% and a Debt Service Coverage Ratio (as defined in the related mortgage loan documents) of at least 1.20x.

With respect to 1 mortgage loan (identified as Loan No. 16 on Annex A-1 to this free writing prospectus, representing approximately 1.1% of the Initial Pool Balance (approximately 1.3% of the Initial Group 1 Balance)), at any time prior to the maturity of the mortgage loan, the related borrower may obtain the release of individual properties by substituting another property of like kind and quality acquired by the borrower, subject, in each case, to the fulfillment, among other things, of the following conditions: (i) in no event shall the aggregate allocated loan amount of the substituted properties either pursuant to a single substitution or multiple substitutions, exceed 20% of the original amount of the loan, (ii) the fair market value of the substitute property is equal to or greater than the appraised value of the substituted property at the time of closing of the mortgage loan, (iii) the debt service coverage ratio of all of the mortgaged properties after the substitution is greater than (x) the debt service coverage ratio on the origination date, and (y) the debt service coverage ratio immediately preceding the substitution, (iv) receipt by the lender of a confirmation in writing from the Rating Agencies to the effect that such substitution will not result in a withdrawal, qualification or downgrade of the respective ratings of the Certificates in effect immediately prior to such substitution, (v) no event of default shall have occurred and be continuing under the terms of the related mortgage loan documents and the related borrower is in material compliance with all terms and conditions of the related mortgage loan documents, and (vi) the borrower has delivered all title, loan, security and due diligence documents related to the substitute property.

With respect to 1 mortgage loan (identified as Loan No. 5 on Annex A-1 to this free writing prospectus, representing approximately 1.8% of the Initial Pool Balance (approximately 2.2% of the Initial Group 1 Balance)), at any time prior to the maturity of the mortgage loan, the related borrower may obtain the release of individual properties by substituting another property of like kind and quality acquired by the borrower, subject, in each case, to the fulfillment, among other things, of the following conditions: (i) in no event shall the aggregate allocated loan amount of the substituted properties, either pursuant to a single substitution or multiple substitutions, exceed 35% of the original amount of the loan, (ii) the fair market value of the substitute property is equal to or greater than the appraised value of the substituted property at the time of closing of the mortgage loan, (iii) the debt service coverage ratio of all of the mortgaged properties after the substitution is greater than (x) the debt service coverage ratio on the origination date, and (y) the debt service coverage ratio immediately preceding the substitution, (iv) receipt by the lender of a confirmation in writing from the Rating Agencies to the effect that such substitution will not result in a withdrawal, qualification or downgrade of the respective ratings of the Certificates in effect immediately prior to such substitution, (v) no event of default shall have occurred and be continuing under the terms of the related mortgage loan documents and the related borrower is in material compliance with all terms and conditions of the related mortgage loan documents, and (vi) the borrower has delivered all title, loan, security and due diligence documents related to the substitute property.

Certain of the mortgage loans permit a partial release of an unimproved portion (which may have landscaping, parking or other non-income generating improvements) of the related Mortgaged Property or an improved portion of the related Mortgaged Property that was given no value or was not material for underwriting purposes for no consideration upon the satisfaction of certain requirements other than pursuant to Defeasance.

‘‘Due-on-Sale’’ and ‘‘Due-on-Encumbrance’’ Provisions.    The mortgage loans contain ‘‘due-on-sale’’ and ‘‘due-on-encumbrance’’ provisions that in each case, with limited exceptions, permit the holder of the Mortgage to accelerate the maturity of the related mortgage loan if the

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borrower sells or otherwise transfers or encumbers the related Mortgaged Property without the consent of the holder of the Mortgage; provided, however, under the terms of many of the mortgage loans, this consent may not be unreasonably withheld, and in some cases must be granted if certain conditions are met. Certain of the mortgage loans permit transfers by the related borrower of the Mortgaged Property to purchasers who would then assume the related mortgage loan subject to the reasonable acceptability of the transferee to the mortgagee and the satisfaction of certain conditions provided in the related loan documents. The transfer of a Mortgaged Property to a new unaffiliated entity will likely involve the termination of any applicable cross-collateralization arrangement under the related mortgage loan documents. Certain of the mortgage loans permit or, within a specified time period, require the tenants-in-common borrowers to transfer ownership to other tenants-in-common or into a single-purpose entity. Certain of the Mortgaged Properties have been, or may become, subject to additional financing. See ‘‘—Additional Debt’’ above and ‘‘Risk Factors—Multifamily Properties Have Special Risks’’ in this free writing prospectus.

Each Master Servicer, with respect to non-Specially Serviced Mortgage Loans, and the Special Servicer, with respect to Specially Serviced Mortgage Loans, will be required (a) to exercise any right it may have with respect to a mortgage loan containing a ‘‘due-on-sale’’ clause (1) to accelerate the payments on that mortgage loan, or (2) to withhold its consent to any sale or transfer, consistent with the Servicing Standards or (b) to waive its right to exercise such rights; provided, however, that with respect to such waiver of rights, (i) with respect to all non-Specially Serviced Mortgage Loans, the applicable Master Servicer has obtained the prior written consent (or deemed consent) of the Special Servicer, (ii) with respect to all Specially Serviced Mortgage Loans, and all non-Specially Serviced Mortgage Loans, the Special Servicer has obtained the prior written consent (or deemed consent) of the Directing Certificateholder and (iii) with respect to any mortgage loan (x) with a Stated Principal Balance greater than or equal to $20,000,000, (y) with a Stated Principal Balance greater than or equal to 5% of the aggregate Stated Principal Balance of the mortgage loans then outstanding or (z) together with all other mortgage loans with which it is cross-collateralized or cross-defaulted or together with all other mortgage loans with the same or an affiliated borrower, that is one of the ten largest mortgage loans (by Stated Principal Balance) outstanding, confirmation from each Rating Agency is obtained that such waiver or consent would not result in the downgrade, withdrawal or qualification of the then-current ratings on any class of outstanding Certificates.

With respect to a mortgage loan with a ‘‘due-on-encumbrance’’ clause, each Master Servicer, with respect to non-Specially Serviced Mortgage Loans, and the Special Servicer, with respect to Specially Serviced Mortgage Loans, will be required (a) to exercise any right it may have with respect to a mortgage loan containing a ‘‘due-on-encumbrance’’ clause (1) to accelerate the payments thereon, or (2) to withhold its consent to the creation of any additional lien or other encumbrance, consistent with the Servicing Standards or (b) to waive its right to exercise such rights, provided that, with respect to such waiver of rights, (i) if the mortgage loan is a non-Specially Serviced Mortgage Loan, the applicable Master Servicer has made a recommendation and obtained the consent (or deemed consent) of the Special Servicer and (ii) the the Special Servicer has obtained (a) the consent of the Directing Certificateholder and (b) the applicable Master Servicer or the Special Servicer, as the case may be, has obtained from each Rating Agency a confirmation that such waiver would not result in the downgrade, withdrawal or qualification of the then-current ratings on any Class of outstanding Certificates if such mortgage loan (1) together with all other mortgage loans with which it is cross-collateralized or cross-defaulted, has an outstanding principal balance that is greater than or equal to 2% of the aggregate Stated Principal Balance of the mortgage loans or (2) has an LTV Ratio greater than 85% (including any existing and proposed debt) or (3) has a DSCR less than 1.20x (in each case, determined based upon the aggregate of the Stated Principal Balance of the mortgage loan and the principal amount of the proposed additional loan) or (4) is one of the ten largest mortgage loans (by Stated Principal Balance) or (5) has a Stated Principal Balance over $20,000,000. Any confirmation required will be at the related borrower’s expense, to the extent

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permitted by the related mortgage loan documents; provided, that to the extent the mortgage loan documents are silent as to who bears the costs of any such confirmation, the applicable Master Servicer or the Special Servicer is required to use reasonable efforts to have the related borrower bear such costs and expenses.

Notwithstanding the foregoing, the existence of any additional indebtedness may increase the difficulty of refinancing the related mortgage loan at its maturity date and increase the possibility that reduced cash flow could result in deferred maintenance. Also, if the holder of the additional debt has filed for bankruptcy or been placed in involuntary receivership, foreclosure of the related mortgage loan could be delayed. See ‘‘Certain Legal Aspects of Mortgage Loans— Due-on-Sale and Due-on-Encumbrance’’ and ‘‘—Subordinate Financing’’ in the prospectus.

Hazard, Liability and Other Insurance.    The mortgage loans generally require that each Mortgaged Property be insured by a hazard insurance policy in an amount (subject to an approved deductible) at least equal to the lesser of (a) the outstanding principal balance of the related mortgage loan and (b) 100% of the replacement cost of the improvements located on the related Mortgaged Property, and if applicable, that the related hazard insurance policy contain appropriate endorsements or have been issued in an amount sufficient to avoid the application of co-insurance and not permit reduction in insurance proceeds for depreciation; provided, that in the case of certain of the mortgage loans, the hazard insurance may be in such other amounts as was required by the related originator. Certain mortgage loans permit a borrower to satisfy its insurance coverage requirement by permitting its tenant to self-insure.

In general, the standard form of hazard insurance policy covers physical damage to, or destruction of, the improvements on the Mortgaged Property by fire, lightning, explosion, smoke, windstorm and hail, riot or strike and civil commotion, subject to the conditions and exclusions set forth in each policy. Each mortgage loan generally also requires the related borrower to maintain comprehensive general liability insurance against claims for personal and bodily injury, death or property damage occurring on, in or about the related Mortgaged Property in an amount generally equal to at least $1,000,000. Each mortgage loan generally further requires the related borrower to maintain business interruption insurance in an amount not less than approximately 100% of the gross rental income from the related Mortgaged Property for not less than 12 months. In general, the mortgage loans (including those secured by Mortgaged Properties located in California) do not require earthquake insurance. 34 of the Mortgaged Properties, securing mortgage loans representing approximately 10.1% of the Initial Pool Balance (32 of the Mortgaged Properties securing mortgage loans in Loan Group 1, representing approximately 11.4% of the Initial Loan Group 1 Balance and 2 of the Mortgaged Properties securing mortgage loans in Loan Group 2, representing approximately 4.1% of the Initial Loan Group 2 Balance), are located in areas that are considered a high earthquake risk (seismic zone 3 or 4). These areas include all or parts of the States of California, Nevada, Oregon, Tennessee, Utah and Washington.

With respect to any environmental insurance policy that may have been obtained by a Mortgage Loan Seller in lieu of a Phase I environmental site assessment, such environmental insurance policy is generally a blanket policy covering the Mortgage Loan Seller’s mortgage loans for which such assessments were not obtained. The policy insures the trust against losses, with a per incident limit set at 125% of the outstanding balance of the mortgage loan and an aggregate limit equal to a percentage of the aggregate outstanding principal balance of the mortgage loans covered by the policy, resulting from certain known and unknown environmental conditions in violation of applicable environmental standards at the related Mortgaged Property during the applicable policy period, which continues for a period at least equal to the lesser of (a) five years beyond the maturity date of the related mortgage loan and (b) twenty years beyond the date of origination of the related mortgage loan, provided no foreclosure has occurred. Subject to certain conditions and exclusions, such insurance policies, by their terms, generally provide coverage against (i) losses resulting from default under the applicable mortgage loan, up to the amount of the then outstanding loan balance and certain unpaid interest, if on-site environmental conditions in violation of applicable environmental standards

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are discovered at the related Mortgaged Property during the policy period and no foreclosure of the Mortgaged Property has taken place; (ii) losses from third-party claims against the lender during the policy period for bodily injury, property damage or clean-up costs resulting from environmental conditions at or emanating from the Mortgaged Property; and (iii) after foreclosure, costs of clean-up of environmental conditions in violation of applicable environmental standards discovered during the policy period to the extent required by applicable law, including any court order or other governmental directive.

See ‘‘Risk Factors—Property Insurance May Not Be Sufficient’’ in this free writing prospectus for information regarding insurance coverage for acts of terrorism.

Additional Mortgage Loan Information

The tables presented in Annex A-2 set forth certain anticipated characteristics of the mortgage loans and the Mortgaged Properties. The sum in any column may not equal the indicated total due to rounding. The descriptions in this free writing prospectus of the mortgage loans and the Mortgaged Properties are based upon the pool of mortgage loans as it is expected to be constituted as of the close of business on the Closing Date, assuming that (1) all scheduled principal and/or interest payments due on or before the Cut-off Date will be made and (2) there will be no principal prepayments on or before the Cut-off Date.

Prior to the issuance of the Certificates, one or more mortgage loans (including mortgage loans specifically described in this free writing prospectus) may be removed from the pool of mortgage loans as a result of prepayments, delinquencies, incomplete documentation or for any other reason, if the Depositor or a Mortgage Loan Seller deems the removal necessary, appropriate or desirable. A limited number of other mortgage loans may be included in the pool of mortgage loans prior to the issuance of the Certificates, unless including those mortgage loans would materially alter the characteristics of the pool of mortgage loans as described in this free writing prospectus. The Depositor believes that the information set forth in this free writing prospectus will be representative of the characteristics of the pool of mortgage loans as it will be constituted at the time the Certificates are issued, although the range of Mortgage Rates and maturities as well as other characteristics of the mortgage loans described in this free writing prospectus may vary.

With respect to mortgage loans secured by more than one Mortgaged Property, the information presented in this free writing prospectus with respect to UW DSCR and LTV Ratios, as applicable, is the UW DSCR or LTV Ratio of the mortgage loan in the aggregate. Unless otherwise noted, all numerical and statistical information presented in this free writing prospectus, including Cut-off Date Balances, LTV Ratios and UW DSCRs with respect to each AB Mortgage Loan is calculated without regard to the related AB Subordinate Companion Loan.

For purposes of the statistical information in this free writing prospectus, unless otherwise noted, all numerical and statistical information presented herein, including Cut-off Date Balances, LTV Ratios and UW DSCRs, with respect to each AB Mortgage Loan is calculated without regard to the related AB Subordinate Companion Loan; provided, however, the loan amount and debt service payments used in this free writing prospectus for purposes of calculating the LTV Ratios and UW DSCRs of the 599 Lexington Avenue Loan are the aggregate principal balance and aggregate debt service of the 599 Lexington Avenue Loan and the 599 Lexington Avenue Pari Passu Companion Loans. In addition, the loan amount and debt service payments used in this free writing prospectus for purposes of calculating the LTV Ratios and UW DSCRs of the AmeriCold Portfolio Loan are the aggregate principal balance and aggregate debt service of the AmeriCold Portfolio Loan and the AmeriCold Portfolio Pari Passu Companion Loans.

A Current Report on Form 8-K (the ‘‘Form 8-K’’) will be available to purchasers of the Offered Certificates shortly after the Closing Date and will be filed, together with the Pooling and Servicing Agreement, with the Securities and Exchange Commission. If mortgage loans are removed from or added to the pool of mortgage loans as set forth above, the removal or addition will be noted in the Form 8-K.

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For a detailed presentation of certain characteristics of the mortgage loans and the Mortgaged Properties on an individual basis, see Annex A-1 to this free writing prospectus.

The ‘‘Underwritten Cash Flow Debt Service Coverage Ratio’’ or ‘‘UW DSCR’’ for any mortgage loan for any period, as presented in this free writing prospectus, including the tables presented on Annex A-1 and Annex A-2 attached to this free writing prospectus, is the ratio of Underwritten Cash Flow calculated for the related Mortgaged Property to the amount of total annual debt service on such mortgage loan. In the case of 1 mortgage loan (identified as Loan No. 162 on Annex A-1 to this free writing prospectus), the underwritten debt service coverage ratio was calculated net of an $800,000 letter of credit in making such calculation. The Underwritten Cash Flow Debt Service Coverage Ratio for all partial interest-only loans was calculated based on the first principal and interest payment required to be made into the trust fund during the term of the loan. With respect to any mortgage loan that is part of a cross-collateralized group of mortgage loans, the Underwritten Cash Flow Debt Service Coverage Ratio is the ratio of the Underwritten Cash Flow calculated for the Mortgaged Properties related to the cross-collateralized group to the total annual debt service for all of the mortgage loans in the cross-collateralized group. ‘‘Underwritten Cash Flow’’ or ‘‘UW NCF’’ means the Underwritten NOI for the related Mortgaged Property decreased by an amount that the related Mortgage Loan Seller has determined to be an appropriate allowance for average annual tenant improvements and leasing commissions and/or replacement reserves for capital items based upon its underwriting guidelines.

‘‘Underwritten NOI’’ or ‘‘UW NOI’’ means the Net Operating Income for the related Mortgaged Property as determined by the related Mortgage Loan Seller in accordance with its underwriting guidelines for similar properties. Revenue from a Mortgaged Property (‘‘Effective Gross Income’’) is generally calculated as follows: rental revenue is calculated using actual rental rates, in some cases adjusted downward to market rates with vacancy rates equal to the higher of the related Mortgaged Property’s historical rate, the market rate or an assumed vacancy rate; other revenue, such as parking fees, laundry fees and other income items are included only if supported by a trend and/or are likely to be recurring. Operating expenses generally reflect the related Mortgaged Property’s historical expenses, adjusted to account for inflation, significant occupancy increases and a market rate management fee. Generally, ‘‘Net Operating Income’’ or ‘‘NOI,’’ for a Mortgaged Property equals the operating revenues (consisting principally of rental and related revenue) for that Mortgaged Property minus the operating expenses (such as utilities, repairs and maintenance, general and administrative, management fees, marketing and advertising, insurance and real estate tax expenses) for the Mortgaged Property. NOI generally does not reflect debt service, tenant improvements, leasing commissions, depreciation, amortization and similar non-operating items.

The Underwritten NOI for each Mortgaged Property is calculated on the basis of numerous assumptions and subjective judgments, which, if ultimately proven erroneous, could cause the actual operating income for such Mortgaged Property to differ materially from the Underwritten NOI set forth herein. Some assumptions and subjective judgments related to future events, conditions and circumstances, including future expense levels, the re-leasing of occupied space, which will be affected by a variety of complex factors over which none of the Issuing Entity, the Depositor, the Mortgage Loan Sellers, the Master Servicers, the Special Servicer or the Trustee have control. In some cases, the Underwritten NOI for any Mortgaged Property is higher, and may be materially higher, than the actual annual NOI for that Mortgaged Property, based on historical operating statements. No guaranty can be given with respect to the accuracy of the information provided by any borrowers, or the adequacy of the procedures used by a Mortgage Loan Seller in determining the relevant operating information. See ‘‘Risk Factors—Risks Relating to Underwritten Net Cash Flow’’ in this free writing prospectus.

The amounts representing Net Operating Income, Underwritten NOI and Underwritten Cash Flow are not a substitute for or an improvement upon net income, as determined in accordance with generally accepted accounting principles, as a measure of the results of the Mortgaged Property’s operations or a substitute for cash flows from operating activities, as determined in

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accordance with generally accepted accounting principles, as a measure of liquidity. No representation is made as to the future cash flow of the Mortgaged Properties, nor are the Net Operating Income, Underwritten NOI and Underwritten Cash Flow set forth in this free writing prospectus intended to represent such future cash flow.

The UW NCFs and UW NOIs used as a basis for calculating the UW DSCRs presented in this free writing prospectus, including the tables presented on Annex A-1 and Annex A-2, were derived principally from operating statements obtained from the respective borrowers (the ‘‘Operating Statements’’). With respect to mortgage loans secured by newly constructed Mortgaged Properties, the UW NCFs and UW NOIs used as a basis for calculating UW DSCRs are derived principally from rent rolls, tenant leases and the appraisers’ projected expense levels. The Operating Statements and rent rolls were not audited and in most cases were not prepared in accordance with generally accepted accounting principles. To increase the level of consistency between the Operating Statements and rent rolls, in some instances, adjustments were made to such Operating Statements. These adjustments were principally for real estate tax and insurance expenses (e.g., adjusting for the payment of two years of expenses in one year), and to eliminate obvious items not related to the operation of the Mortgaged Property. However, such adjustments were subjective in nature and may not have been made in a uniform manner. The UW NCF for residential cooperative Mortgaged Properties is based on projected Net Operating Income at the Mortgaged Property, as determined by the appraisal obtained in connection with the origination of the related mortgage loan, assuming that the Mortgaged Property was operated as a rental property with rents set at prevailing market rates taking into account the presence of, if any, existing rent-controlled or rent-stabilized occupants, if any, reduced by underwritten capital expenditures, property operating expenses, a market-rate vacancy assumption and projected reserves.

The tables presented in Annex A-2 that are entitled ‘‘Cut-off Date LTV Ratios’’ and ‘‘Maturity Date LTV Ratios’’ set forth the range of LTV Ratios of the mortgage loans as of the Cut-off Date and the stated maturity dates of the mortgage loans. An ‘‘LTV Ratio’’ for any mortgage loan, as of any date of determination, is a fraction, expressed as a percentage, the numerator of which is the scheduled principal balance of the mortgage loan as of that date (assuming no defaults or prepayments on the mortgage loan prior to that date), and the denominator of which is the appraised value of the related Mortgaged Property or Mortgaged Properties as determined by an appraisal of the property obtained at or about the time of the origination of the mortgage loan. In the case of 28 mortgage loans (identified as Loan Nos. 2, 6, 8, 9, 11, 22, 27, 29, 31, 34, 41, 42, 51, 55, 61, 78, 79, 83, 92, 105, 106, 110, 122, 127, 130, 186, 189 and 228 on Annex A-1 to this free writing prospectus), representing approximately 18.9% of the Initial Pool Balance (25 mortgage loans in Loan Group 1 representing approximately 21.5% of the Initial Loan Group 1 Balance and 3 mortgage loans in Loan Group 2 representing approximately 7.2% of the Initial Loan Group 2 Balance), the LTV Ratios were based on the ‘‘as-stabilized’’ values as defined in the related appraisal. However, in the event that a mortgage loan is part of a cross-collateralized group of mortgage loans, the LTV Ratio is the fraction, expressed as a percentage, the numerator of which is the scheduled principal balance of all the mortgage loans in the cross-collateralized group and the denominator of which is the aggregate of the appraised values of all the Mortgaged Properties related to the cross-collateralized group. The LTV Ratio as of the mortgage loan maturity date set forth in Annex A-2 was calculated based on the principal balance of the related mortgage loan on the maturity date assuming all principal payments required to be made on or prior to the mortgage loan’s maturity date (not including the balloon payment), are made. In addition, because it is based on the value of a Mortgaged Property determined as of loan origination, the information set forth in this free writing prospectus in Annex A-1 and in Annex A-2 is not necessarily a reliable measure of the related borrower’s current equity in each Mortgaged Property. In a declining real estate market, the appraised value of a Mortgaged Property could have decreased from the appraised value determined at origination and the current actual LTV Ratio of a mortgage loan may be higher than its LTV Ratio at origination even after taking into account amortization since origination.

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The characteristics described above and in Annex A-2, along with certain additional characteristics of the mortgage loans presented on a loan-by-loan basis, are set forth in Annex A-1 to this free writing prospectus. Certain additional information regarding the mortgage loans is set forth in this free writing prospectus below under ‘‘Transaction Parties—The Mortgage Loan Sellers—Underwriting Guidelines and Processes’’ and in the prospectus under ‘‘Description of the Trust Funds—Mortgage Loans’’ and ‘‘Certain Legal Aspects of Mortgage Loans.’’

Sale of Mortgage Loans: Mortgage File Delivery

On the Closing Date, the Depositor will acquire the mortgage loans from each Mortgage Loan Seller and will simultaneously transfer the mortgage loans, without recourse, to the Trustee for the benefit of the Certificateholders. Under the related transaction documents, the Depositor will require each Mortgage Loan Seller to deliver to the Trustee or to a document custodian appointed by the Trustee (a ‘‘Custodian’’), among other things, the following documents with respect to each mortgage loan sold by the applicable Mortgage Loan Seller (except that with respect to the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan, the Trustee will only hold originals of the documents described in clause (i)) (collectively, as to each mortgage loan, the ‘‘Mortgage File’’): (i) the original Mortgage Note, endorsed on its face or by allonge attached thereto, without recourse, to the order of the Trustee or in blank (or, if the original Mortgage Note has been lost, an affidavit to such effect from the applicable Mortgage Loan Seller or another prior holder, together with a copy of the Mortgage Note); (ii) the original or a copy of the Mortgage, together with an original or copy of any intervening assignments of the Mortgage, in each case with evidence of recording indicated thereon or certified by the applicable recorder’s office; (iii) the original or a copy of any related assignment of leases and of any intervening assignments thereof (if such item is a document separate from the Mortgage), with evidence of recording indicated thereon or certified by the applicable recorder’s office; (iv) an original assignment of the Mortgage in favor of the Trustee or in blank and in recordable form; (v) an original assignment of any related assignment of leases (if such item is a document separate from the Mortgage) in favor of the Trustee and (subject to the completion of certain missing recording information) in recordable form; (vi) the original assignment of all unrecorded documents relating to the mortgage loan, if not already assigned pursuant to items (iv) or (v) above; (vii) originals or copies of all modification, consolidation, assumption and substitution agreements in those instances in which the terms or provisions of the Mortgage or Mortgage Note have been modified or the mortgage loan has been assumed or consolidated; (viii) the original or a copy of the policy or certificate of lender’s title insurance issued on the date of the origination of such mortgage loan, or, if such policy has not been issued or located, an irrevocable, binding commitment (which may be a marked version of the policy that has been executed by an authorized representative of the title company or an agreement to provide the same pursuant to binding escrow instructions executed by an authorized representative of the title company) to issue such title insurance policy; (ix) any filed copies (bearing evidence of filing) or evidence of filing satisfactory to the Trustee of any UCC financing statements, related amendments and continuation statements in the possession of the applicable Mortgage Loan Seller; (x) an original assignment in favor of the Trustee of any financing statement executed and filed in favor of the applicable Mortgage Loan Seller in the relevant jurisdiction; (xi) any intercreditor agreement relating to permitted debt of the mortgagor; and (xii) copies of any loan agreement, escrow agreement, security agreement or letter of credit relating to a mortgage loan; and (xiii) the original or copy of any ground lease, ground lessor estoppel, environmental insurance policy or guaranty relating to a mortgage loan.

Notwithstanding the foregoing, with respect to any Mortgage, assignment of leases or UCC financing statements which have been recorded or filed in the name of MERS or its designee, no Mortgage assignment, assignment of the assignment of leases or UCC filing statements in favor of the Trustee will be required to be prepared or delivered. Instead, the related Mortgage Loan Seller will be required to take all actions as are necessary to cause the Trustee to be shown as the

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owner of the related mortgage loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS.

As provided in the Pooling and Servicing Agreement, the Trustee or a Custodian on its behalf is required to review each Mortgage File within a specified period following its receipt thereof. If any of the above-described documents is found during the course of such review to be missing from any Mortgage File or defective, and in either case such omission or defect materially and adversely affects the value of the applicable mortgage loan or the interests of the Certificateholders therein, the applicable Mortgage Loan Seller, if it cannot deliver the document or cure the defect (other than omissions solely due to a document not having been returned by the related recording office) within a period of 90 days following such Mortgage Loan Seller’s receipt of notice thereof, will be obligated pursuant to the applicable Purchase Agreement to (1) repurchase the affected mortgage loan within such 90-day period or (2) substitute a qualified substitute mortgage loan for such mortgage loan and pay the Trustee a shortfall amount. See ‘‘—Representations and Warranties; Repurchases and Substitutions’’ in this free writing prospectus.

The Pooling and Servicing Agreement requires that the Trustee take the actions specified in the Pooling and Servicing Agreement necessary to maintain the security interest of the trust fund in the mortgage loans. In addition, the Trustee is required to maintain custody of the Mortgage File for each mortgage loan in the State of Illinois. The Trustee will not move any Mortgage File outside the State of Illinois, other than as specifically provided for in the Pooling and Servicing Agreement, unless the Trustee first obtains and provides, at the expense of the Trustee, an opinion of counsel to the Depositor, which will be delivered to the Rating Agencies, to the effect that the Trustee’s first priority interest in the Mortgage Notes has been duly and fully perfected under the applicable laws and regulations of such other jurisdiction. See ‘‘Description of the Certificates—Reports to Certificateholders; Certain Available Information’’ in this free writing prospectus.

Representations and Warranties; Repurchases and Substitutions

In each Purchase Agreement, the applicable Mortgage Loan Seller will represent and warrant with respect to each mortgage loan (subject to certain exceptions specified in the related Purchase Agreement) sold by that Mortgage Loan Seller as of the Closing Date, or as of another date specifically provided in the representation and warranty, among other things, that:

(a)    the mortgage loan is not delinquent 30-days or more in payment of principal and interest (without giving effect to any applicable grace period) as of the Cut-off Date and has not been 30 or more days past due, without giving effect to any applicable grace period;

(b)    the mortgage loan is secured by a Mortgage that is a valid and subsisting first priority lien on the Mortgaged Property (or a leasehold interest therein) free and clear of any liens, claims or encumbrances, subject only to certain permitted encumbrances;

(c)    the Mortgage, together with any separate security agreement, UCC Financing Statement or similar agreement, if any, establishes a first priority security interest in favor of the Mortgage Loan Seller, in all the related borrower’s personal property used in, and reasonably necessary to the operation of, the Mortgaged Property, and to the extent a security interest may be created therein and perfected by the filing of a UCC Financing Statement, the proceeds arising from the Mortgaged Property and any other collateral securing the Mortgage subject only to certain permitted encumbrances;

(d)    there is an assignment of leases and rents provision or agreement creating a first priority security interest in leases and rents arising in respect of the related Mortgaged Property, subject only to certain permitted encumbrances;

(e)    to the Mortgage Loan Seller’s actual knowledge, there are no mechanics’ or other similar liens affecting the Mortgaged Property that are or may be prior or equal to the lien of the Mortgage, except those bonded, escrowed for or insured against pursuant to the applicable title insurance policy and except for permitted encumbrances;

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(f)    the related borrower has good and indefeasible fee simple or leasehold title to the Mortgaged Property subject to certain permitted encumbrances;

(g)    the Mortgaged Property is covered by a title insurance policy (or binding commitment therefor) insuring the Mortgage is a valid first lien, subject only to certain permitted encumbrances; no claims have been made under the related title insurance policy and such policy is in full force and effect and will provide that the insured includes the owner of the mortgage loan;

(h)    at the time of the assignment of the mortgage loan to the Depositor, the Mortgage Loan Seller had good title to and was the sole owner of the mortgage loan free and clear of any pledge, lien or encumbrance (other than the rights to servicing and related compensation as provided in the Pooling and Servicing Agreement and certain related agreements) and such assignment validly transfers ownership of the mortgage loan to the Depositor free and clear of any pledge, lien or encumbrance (other than the rights to servicing and related compensation as provided in the Pooling and Servicing Agreement and certain related agreements);

(i)    the related assignment of mortgage and related assignment of the assignment of leases and rents are legal, valid and binding;

(j)    the Mortgage Loan Seller’s endorsement of the related Mortgage Note constitutes the legal and binding assignment of the Mortgage Note, except as the enforceability thereof may be limited by applicable state law and by bankruptcy, insolvency, reorganization or other laws relating to creditors’ rights and general equitable principles, and together with an assignment of mortgage and the assignment of the assignment of leases and rents, legally and validly conveys all right, title and interest in the mortgage loan and related mortgage loan documents;

(k)    each Mortgage and Mortgage Note is a legal, valid and binding obligation of the parties thereto (subject to any non-recourse provisions therein), enforceable in accordance with its terms, except as the enforceability thereof may be limited by applicable state law and by bankruptcy, insolvency, reorganization or other laws relating to creditors’ rights and general equitable principles and except that certain provisions of such documents are or may be unenforceable in whole or in part, but the inclusion of such provisions does not render such documents invalid as a whole, and such documents taken as a whole are enforceable to the extent necessary and customary for the practical realization of the principal rights and benefits afforded thereby;

(l)    the terms of the mortgage loan and related mortgage loan documents have not been modified or waived in any material respect except as set forth in the related mortgage loan file;

(m)    the mortgage loan has not been satisfied, canceled, subordinated, released or rescinded and the related borrower has not been released from its obligations under any mortgage loan document;

(n)    except with respect to the enforceability of provisions requiring the payment of default interest, late fees, additional interest, prepayment premiums or yield maintenance charges and other creditors’ rights limitations on enforceability, none of the mortgage loan documents is subject to any right of rescission, set-off, valid counterclaim or defense;

(o)    the terms of each mortgage loan document complied in all material respects with all applicable local, state or federal laws including usury to the extent non-compliance would have a material adverse effect on the mortgage loan;

(p)    to the Mortgage Loan Seller’s knowledge, as of the date of origination of the mortgage loan, based on inquiry customary in the industry, the related Mortgaged Property was, and to the Mortgage Loan Seller’s actual knowledge, as of the Closing Date, the related Mortgaged Property is, in all material respects, in compliance with, and used and occupied in

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accordance with, all restrictive covenants of record applicable to the Mortgaged Property and applicable zoning laws and all inspections, licenses, permits and certificates of occupancy required by law, ordinance or regulation to be made or issued with regard to the Mortgaged Property have been obtained and are in full force and effect, except to the extent (a) any material non-compliance with applicable zoning laws is insured by an ALTA lender’s title insurance policy (or binding commitment therefor), or the equivalent as adopted in the applicable jurisdiction, or a law and ordinance insurance policy, or (b) the failure to obtain or maintain such inspections, licenses, permits or certificates of occupancy does not materially impair or materially and adversely affect the use and/or operation of the Mortgaged Property as it was used and operated as of the date of origination of the mortgage loan or the rights of a holder of a related mortgage loan;

(q)    to (i) the Mortgage Loan Seller’s knowledge, in reliance on an engineering report, the related Mortgaged Property is in good repair or escrows have been established to cover the estimated costs of repairs and (ii) the Mortgage Loan Seller’s actual knowledge, no condemnation proceedings are pending;

(r)    as of the date of origination of the mortgage loan and as of the Closing Date, the Mortgaged Property is covered by insurance policies providing coverage against certain losses or damage;

(s)    all escrow amounts required to be deposited by the borrower at origination have been deposited;

(t)    to the Mortgage Loan Seller’s knowledge, as of the date of origination of the mortgage loan, there were and to the Mortgage Loan Seller’s actual knowledge, as of the Closing Date, there are no pending actions, suits or proceedings by or before any court or other governmental authority against or affecting the related borrower under the mortgage loan or the Mortgaged Property which, if determined against the borrower or property would materially and adversely affect the value of such property or ability of the borrower or the current use of the Mortgaged Property to generate net cash flow sufficient to pay principal, interest and other amounts due under the mortgage loan; and

(u)    the terms of the mortgage loan documents evidencing such mortgage loan comply in all material respects with all applicable local, state, and federal laws and regulations and the Mortgage Loan Seller has complied with all material requirements pertaining to the origination, funding and servicing of the mortgage loans, including but not limited to, usury and any and all other material requirements of any federal, state or local law to the extent non-compliance would have a material adverse effect on the mortgage loan.

If a Mortgage Loan Seller has been notified of a breach of any of the foregoing representations and warranties or of a document defect that in any case materially and adversely affects the value of a mortgage loan (or in the case of certain representations and warranties, is deemed to materially and adversely affect the value of a mortgage loan), the related Mortgaged Property or the interests of the Certificateholders in the mortgage loan, and if the respective Mortgage Loan Seller cannot cure the breach or defect within a period of 90 days following its receipt of that notice or, in the case of a breach or a defect that would cause the mortgage loan not to be a ‘‘qualified mortgage’’ within the meaning of Section 860G(a)(3) of the Code, if earlier, its discovery of the breach or defect (the ‘‘Initial Resolution Period’’), then the respective Mortgage Loan Seller will be obligated pursuant to the respective Purchase Agreement (the relevant rights under which will be assigned, together with the mortgage loans, to the Trustee), to (a) repurchase the affected mortgage loan or the related REO Loan within the Initial Resolution Period (or with respect to certain breaches or document defects, an extended cure period), at a price (the ‘‘Purchase Price’’) equal to the sum of (1) the outstanding principal balance of the mortgage loan (or related REO Loan) as of the date of purchase, (2) all accrued and unpaid interest on the mortgage loan (or the related REO Loan) at the related Mortgage Rate, in effect from time to time (excluding any portion of such interest that represents default interest), to, but not including, the due date immediately preceding the Determination Date for

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the Due Period of purchase, (3) all related unreimbursed Servicing Advances plus accrued and unpaid interest on all related Advances at the Reimbursement Rate, Special Servicing Fees (whether paid or unpaid) and additional trust fund expenses in respect of the mortgage loan or related REO Loan, if any, (4) solely in the case of a repurchase or substitution by a Mortgage Loan Seller, to the extent not otherwise included in clause (3) above, all reasonable out-of-pocket expenses reasonably incurred or to be incurred by the applicable Master Servicer, the Special Servicer, the Depositor or the Trustee in respect of the breach or defect giving rise to the repurchase obligation, including any expenses arising out of the enforcement of the repurchase obligation, including, without limitation, legal fees and expenses and any additional trust expenses relating to such mortgage (or related REO Loan), and (5) Liquidation Fees, if any, payable with respect to the affected mortgage loan or (b) within 2 years following the Closing Date, substitute a Qualified Substitute Mortgage Loan and pay any shortfall amount equal to the difference between the Purchase Price of the mortgage loan calculated as of the date of substitution and the scheduled principal balance of the Qualified Substitute Mortgage Loan as of the due date in the month of substitution; provided, that the applicable Mortgage Loan Seller generally has an additional 90-day period immediately following the expiration of the Initial Resolution Period to cure the breach or defect if it is diligently proceeding toward that cure, and has delivered to each Rating Agency, the applicable Master Servicer, the Special Servicer, the Trustee and the Directing Certificateholder an officer’s certificate that describes the reasons that a cure was not effected within the Initial Resolution Period. Notwithstanding the foregoing, the actions specified in (a) and (b) of the preceding sentence must be taken within 90 days following the earlier of the Mortgage Loan Seller’s receipt of notice or discovery of a breach or defect, with no extension, if such breach or defect would cause the mortgage loan not to be a ‘‘qualified mortgage’’ within the meaning of Section 860G(a)(3) of the Code. Any breach of a representation or warranty with respect to a mortgage loan that is cross-collateralized with other mortgage loans may require the repurchase of or substitution for such other mortgage loans to the extent described under ‘‘—Repurchase or Substitution of Cross-Collateralized Mortgage Loans’’ below.

A ‘‘Qualified Substitute Mortgage Loan’’ is a mortgage loan that must, on the date of substitution: (a) have an outstanding principal balance, after application of all scheduled payments of principal and/or interest due during or prior to the month of substitution, whether or not received, not in excess of the Stated Principal Balance of the deleted mortgage loan as of the due date in the calendar month during which the substitution occurs; (b) have a Mortgage Rate not less than the Mortgage Rate of the deleted mortgage loan; (c) have the same due date and a grace period no longer than that of the deleted mortgage loan; (d) accrue interest on the same basis as the deleted mortgage loan; (e) have a remaining term to stated maturity not greater than, and not more than two years less than, the remaining term to stated maturity of the deleted mortgage loan; (f) have a then-current LTV Ratio not higher than that of the deleted mortgage loan as of the Closing Date and a current LTV Ratio not higher than the then-current LTV Ratio of the deleted mortgage loan, in each case using a ‘‘value’’ for the Mortgaged Property as determined using an appraisal conducted by a member of the Appraisal Institute (‘‘MAI’’); (g) comply (except in a manner that would not be adverse to the interests of the Certificateholders) in all material respects with all of the representations and warranties set forth in the applicable Purchase Agreement; (h) have an environmental report with respect to the related Mortgaged Property that will be delivered as a part of the related servicing file; (i) have a then-current debt service coverage ratio not less than the original debt service coverage ratio of the deleted mortgage loan as of the Closing Date, and a current debt service coverage ratio of not less than the current debt service coverage ratio of the deleted mortgage loan; (j) constitute a ‘‘qualified replacement mortgage’’ within the meaning of Section 860G(a)(4) of the Code as evidenced by an opinion of counsel (provided at the applicable Mortgage Loan Seller’s expense); (k) not have a maturity date or an amortization period that extends to a date that is after the date two years prior to the Rated Final Distribution Date; (l) have prepayment restrictions comparable to those of the deleted mortgage loan; (m) not be substituted for a deleted mortgage loan unless the Trustee has received prior confirmation in writing by each Rating Agency that the substitution will not result in the withdrawal, downgrade, or qualification of the

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then-current rating assigned by such Rating Agency to any class of Certificates then rated by such Rating Agency, respectively (the cost, if any, of obtaining the confirmation to be paid by the applicable Mortgage Loan Seller); (n) have been approved by the Directing Certificateholder; (o) prohibit Defeasance within two years of the Closing Date; (p) not be substituted for a deleted mortgage loan if it would result in the termination of the REMIC status of either the Lower-Tier REMIC or the Upper-Tier REMIC or the imposition of tax on either REMIC other than a tax on income expressly permitted or contemplated to be imposed by the terms of the Pooling and Servicing Agreement; (q) have an engineering report with respect to the related Mortgaged Property which will be delivered as a part of the related servicing file; and (r) become a part of the same Loan Group as the deleted mortgage loan. In the event that more than one mortgage loan is substituted for a deleted mortgage loan or mortgage loans, then (x) the amounts described in clause (a) of the preceding sentence are required to be determined on the basis of aggregate principal balances and (y) each proposed substitute mortgage loan shall individually satisfy each of the requirements specified in clauses (b) through (r) of the preceding sentence, except the rates described in clause (b) above and the remaining term to stated maturity referred to in clause (e) above are required to be determined on a weighted average basis, provided that no individual Mortgage Rate (net of the Servicing Fee and the Trustee Fee) shall be lower than the highest fixed Pass-Through Rate (and not subject to a cap equal to the WAC Rate) of any class of Certificates having a principal balance then outstanding. When a Qualified Substitute Mortgage Loan is substituted for a deleted mortgage loan, (i) the applicable Mortgage Loan Seller will be required to certify that the mortgage loan meets all of the requirements of the above definition and send the certification to the Trustee and the Directing Certificateholder and (ii) such Qualified Substitute Mortgage Loan will become a part of the same Loan Group as the deleted mortgage loan.

The foregoing repurchase or substitution obligation will constitute the sole remedy available to the Certificateholders and the Trustee under the Pooling and Servicing Agreement for any uncured breach of any Mortgage Loan Seller’s representations and warranties regarding the mortgage loans or any uncured document defect; provided, however, if any breach pertains to a representation or warranty that the related mortgage loan documents or any particular mortgage loan document requires the related borrower to bear the costs and expenses associated with any particular action or matter under such mortgage loan document(s), then the applicable Mortgage Loan Seller will be required to cure such breach within the applicable cure period (as the same may be extended) by reimbursing to the trust the reasonable amount of any such costs and expenses incurred by the applicable Master Servicer, the Special Servicer, the Trustee or the trust fund that are the basis of such breach and have not been reimbursed by the related borrower; provided, further, that in the event any such costs and expenses exceed $10,000, the applicable Mortgage Loan Seller will have the option to either repurchase or substitute for the related mortgage loan as provided above or pay such costs and expenses. The applicable Mortgage Loan Seller will remit the amount of these costs and expenses and upon its making such remittance, the applicable Mortgage Loan Seller will be deemed to have cured the breach in all respects. The respective Mortgage Loan Seller will be the sole warranting party in respect of the mortgage loans sold by that Mortgage Loan Seller to the Depositor, and none of the Depositor, the Master Servicers, the Special Servicer, the other Mortgage Loan Seller, the Trustee, the Paying Agent, J.P. Morgan Securities Inc., CIBC World Markets Corp. and Bear, Stearns & Co. Inc. (collectively, the ‘‘Underwriters’’) or any of their affiliates will be obligated to repurchase any affected mortgage loan in connection with a breach of the Mortgage Loan Seller’s representations and warranties or in connection with a document defect if the Mortgage Loan Seller defaults on its obligation to do so. However, the Depositor will not include any mortgage loan in the pool of mortgage loans if anything has come to the Depositor’s attention prior to the Closing Date that causes it to believe that the representations and warranties, subject to the exceptions to the representations and warranties, made by a Mortgage Loan Seller regarding the mortgage loan will not be correct in all material respects when made. See ‘‘Description of the Pooling Agreements—Representations and Warranties; Repurchases’’ in the prospectus.

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Repurchase or Substitution of Cross-Collateralized Mortgage Loans

To the extent that the related Mortgage Loan Seller repurchases or substitutes for an affected mortgage loan as provided above with respect to a document omission or defect or a breach of a representation or warranty and such mortgage loan is cross-collateralized and cross-defaulted with one or more other mortgage loans (each a ‘‘Crossed Loan’’), such document omission or defect or breach of a representation or warranty will be deemed to affect all such Crossed Loans. In such event, the applicable Mortgage Loan Seller will be required to (1) repurchase or substitute for all such Crossed Loans which are, or are deemed to be, materially and adversely affected by such document defect or omission or breach of a representation or warranty or (2) if the Crossed Loans meet the criteria listed below, repurchase or substitute for only the affected mortgage loan in the manner described above in ‘‘—Representations and Warranties; Repurchases and Substitutions.’’ The Mortgage Loan Seller may (in its discretion) repurchase or substitute for only the affected mortgage loan if, among other things, (i) the weighted average debt service coverage ratio for all the remaining Crossed Loans, excluding the affected Crossed Loan, for the four most recent reported calendar quarters preceding the repurchase or substitution is not less than the greater of (x) the weighted average debt service coverage ratio for all such related Crossed Loans, including the affected Crossed Loan for the four most recent reported calendar quarters preceding the repurchase or substitution and (y) 1.25x, (ii) the weighted average loan-to-value ratio for all of the remaining Crossed Loans, excluding the affected Crossed Loan, based upon the appraised values of the related Mortgaged Properties as of the Cut-off Date, is not greater than the lesser of (x) the weighted average loan-to-value ratio for all such related Crossed Loans, including the affected Crossed Loan, as of the Cut-off Date and (y) 75% and (iii) the related Mortgage Loan Seller causes the affected Crossed Loan to become not cross-collateralized and cross-defaulted with the remaining related Crossed Loans prior to such repurchase and provides the Trustee with certain REMIC opinions.

To the extent that the related Mortgage Loan Seller repurchases or substitutes for an affected Crossed Loan as described in clause (2) of the immediately preceding paragraph while the Trustee continues to hold any related Crossed Loans, the related Mortgage Loan Seller and the Depositor have agreed in the related Purchase Agreement to forbear from enforcing any remedies against the other’s Primary Collateral (as defined below), but each is permitted to exercise remedies against the Primary Collateral securing its respective affected Crossed Loans, including with respect to the Trustee, the Primary Collateral securing mortgage loans still held by the Trustee, so long as such exercise does not impair the ability of the other party to exercise its remedies against its Primary Collateral. If the exercise of the remedies by one party would impair the ability of the other party to exercise its remedies with respect to the Primary Collateral securing the Crossed Loans held by such party, then both parties have agreed in the related Purchase Agreement to forbear from exercising such remedies until the mortgage loan documents evidencing and securing the relevant mortgage loans can be modified in a manner that complies with the Purchase Agreement to remove the threat of impairment as a result of the exercise of remedies. ‘‘Primary Collateral’’ means the Mortgaged Property directly securing a Crossed Loan and excluding any property as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such loan.

Lockbox Accounts

With respect to 127 mortgage loans (the ‘‘Lockbox Loans’’), representing approximately 64.2% of the Initial Pool Balance (113 mortgage loans in Loan Group 1, representing approximately 71.7% of the Initial Loan Group 1 Balance and 14 mortgage loans in Loan Group 2, representing approximately 30.0% of the Initial Loan Group 2 Balance), one or more accounts (collectively, the ‘‘Lockbox Accounts’’) have been or may be established into which the related borrower, property manager and/or tenants directly deposit rents or other revenues from the related Mortgaged Property. Pursuant to the terms of 1 Lockbox Loan, representing approximately 0.1% of the Initial Pool Balance (approximately 0.1% of the Initial Loan Group 1 Balance), the related Lockbox Account was required to be established on the origination date of

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the related mortgage loan into which operating lessee is required to make deposits directly and amounts may not be released to the borrower, unless, with respect to that Lockbox Loan, all debt service and required reserve account deposits have been made. Pursuant to the terms of 29 Lockbox Loans, representing approximately 27.5% of the Initial Pool Balance (28 mortgage loans in Loan Group 1 representing approximately 33.0% of the Initial Loan Group 1 Balance and 1 mortgage loan in Loan Group 2 representing approximately 2.6% of the Initial Loan Group 2 Balance), a cash management account was required to be established for such mortgage loans on or about the origination date of such mortgage loans into which the operating lessees are required to deposit rents directly, but the related borrower will have withdrawal rights until the occurrence of certain events specified in the related mortgage loan documents. Pursuant to the terms of 97 Lockbox Loans, representing approximately 36.6% of the Initial Pool Balance (84 mortgage loans in Loan Group 1, representing approximately 38.6% of the Initial Loan Group 1 Balance and 13 mortgage loans in Loan Group 2, representing approximately 27.5% of the Initial Loan Group 2 Balance), the related mortgage loan documents provide for the establishment of a Lockbox Account upon the occurrence of certain events (such as an event of default under the related mortgage loan documents). Except as set forth above, the agreements governing the Lockbox Accounts provide that the borrower has no withdrawal or transfer rights with respect to the related Lockbox Account. The Lockbox Accounts will not be assets of either REMIC.

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Transaction Parties

The Sponsors

JPMorgan Chase Bank, National Association

General.    JPMCB, a national banking association, is a sponsor. JPMCB is also acting as a Mortgage Loan Seller and as the Swap Counterparty under the Swap Contracts with respect to the Class A-MFL and Class A-JFL Certificates. JPMCB is an affiliate of J.P. Morgan Securities Inc. and of the Depositor. See ‘‘The Sponsor’’ in the prospectus.

Sponsor’s Securitization Program.    The following is a description of JPMCB’s commercial mortgage-backed securities securitization program. JPMCB originates and underwrites loans through six regional offices.

JPMCB’s primary business is the underwriting and origination of mortgage loans secured by commercial or multifamily properties for JPMCB’s securitization program. As sponsor, JPMCB sells the majority of the loans it originates through CMBS securitizations. JPMCB, with its commercial mortgage lending affiliates and predecessors, began originating commercial mortgage loans for securitization in 1994 and securitizing commercial mortgage loans in 1995. As of December 31, 2006, the total amount of commercial mortgage loans originated and securitized by JPMCB and its predecessors is in excess of $47.2 billion. Of that amount, approximately $43.9 billion have been securitized by the Depositor. In its fiscal year ended December 31, 2005, JPMCB originated approximately $12.0 billion of commercial mortgage loans, of which approximately $10.0 billion were securitized by the Depositor.

JPMCB’s annual commercial mortgage loan originations have grown from approximately $100 million in 1996 to approximately $3.0 billion in 2001 and to approximately $12.0 billion in 2005. The commercial mortgage loans originated by JPMCB include both fixed- and floating-rate loans and both smaller ‘‘conduit’’ loans and large loans. JPMCB primarily originates loans secured by retail, office, multifamily, hospitality, industrial and self-storage properties, but also originates loans secured by manufactured housing communities, theaters, land subject to a ground lease and mixed use properties. JPMCB originates loans in every state.

As a sponsor, JPMCB originates or acquires mortgage loans and, either by itself or together with other sponsors or loan sellers, initiates their securitization by transferring the mortgage loans to a depositor, which in turn transfers them to the issuing entity for the related securitization. In coordination with its affiliate, J.P. Morgan Securities Inc., and other underwriters, JPMCB works with rating agencies, loan sellers, subordinated debt purchasers and servicers in structuring the securitization transaction. JPMCB acts as sponsor, originator or loan seller both in transactions in which it is the sole sponsor and mortgage loan seller as well as in transactions in which other entities act as sponsor and/or mortgage loan seller. Multiple seller transactions in which JPMCB has participated to date include the ‘‘CIBC’’ program, in which JPMCB and CIBC Inc. generally are loan sellers, and the ‘‘Large Diversified Pool’’ program (‘‘LDP’’), in which JPMCB, Nomura Credit & Capital, Inc., LaSalle Bank National Association, Eurohypo AG, New York Branch, PNC Bank, National Association, Capmark Finance Inc. and other financial institutions generally are loan sellers. Some of these loan sellers may be affiliated with underwriters on the transactions. As of December 31, 2006, JPMCB securitized approximately $25.2 billion through the CIBC program and approximately $22.9 billion through the LDP program.

Neither JPMCB nor any of its affiliates acts as servicer of the commercial mortgage loans in its securitizations. Instead, JPMCB sells the right to be appointed servicer of its securitized loans to rating-agency approved servicers, including Capmark Finance Inc., Midland Loan Services, Inc. and Wachovia Bank, National Association, among others.

JPMCB is also a Mortgage Loan Seller, the Swap Counterparty and an affiliate of J.P. Morgan Chase Commercial Mortgage Securities Corp., which is the Depositor, and is an affiliate of J.P. Morgan Securities Inc., which is acting as an Underwriter for this transaction.

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CIBC Inc.

General.    CIBC Inc. is a sponsor. CIBC Inc. is also acting as a Mortgage Loan Seller. CIBC Inc. is an affiliate of CIBC World Markets Corp., one of the Underwriters for this transaction.

CIBC Inc. is a majority owned subsidiary of Canadian Imperial Holdings Inc. and is a corporation incorporated under the laws of Delaware. Canadian Imperial Holdings Inc. is a wholly-owned subsidiary of CIBC Delaware Holdings Inc., also a Delaware corporation, which is an indirect wholly owned subsidiary of Canadian Imperial Bank of Commerce. Canadian Imperial Bank of Commerce is a bank chartered under the Bank Act of Canada, having its head office in the City of Toronto, in the Province of Ontario, Canada. It is licensed to do business in the United States through its agency located in New York, New York.

Sponsor’s Securitization Program.    The following is a description of CIBC Inc.’s commercial mortgage-backed securities securitization program. CIBC Inc. originates and underwrites loans through five regional offices.

CIBC Inc.’s primary business is the underwriting and origination of fixed rate mortgage loans secured by commercial or multifamily properties for CIBC Inc.’s securitization program. CIBC Inc. also originates floating rate loans (e.g., construction and interim loans) on the same property types, the majority of which CIBC Inc. holds on its balance sheet. As sponsor, CIBC Inc. sells the majority of the fixed-rate loans it originates through commercial mortgage-backed securities securitizations. CIBC Inc. began originating commercial mortgage loans for securitization in 1997 and securitizing commercial mortgage loans in 1998. As of March 31, 2007, the total amount of commercial mortgage loans originated and securitized by CIBC Inc. is in excess of $15.0 billion.

In the calendar year ended December 31, 2006, CIBC Inc. originated approximately $4.7 billion of commercial mortgage loans, and securitized approximately $3.9 billion of commercial mortgage loans.

CIBC Inc.’s annual commercial mortgage loan originations intended for securitization have grown from approximately $154 million in 1997 to approximately $1 billion in 2001 and to approximately $4.7 billion in 2006. The commercial mortgage loans originated by CIBC Inc. include both fixed-rate and floating-rate loans and both smaller ‘‘conduit’’ loans and large loans. CIBC Inc. primarily originates loans secured by retail, office, multifamily, hospitality, industrial and self-storage properties, but also originates loans secured by manufactured housing communities, theaters, land subject to a ground lease and mixed use properties. CIBC Inc. originates loans in every state other than in Arizona and Wisconsin (in Arizona and Wisconsin, CIBC Inc.’s affiliate Canadian Imperial Bank of Commerce, New York Agency originates commercial mortgage loans).

As a sponsor, CIBC Inc. originates mortgage loans and, either by itself or together with other sponsors or loan sellers, initiates their securitization by transferring the mortgage loans to a depositor, which in turn transfers them to the issuing entity for the related securitization. In coordination with its affiliate, CIBC World Markets Corp., and other underwriters, CIBC Inc. works with rating agencies, loan sellers, subordinated debt purchasers and servicers in structuring the securitization transaction. CIBC Inc. acts as sponsor, originator or loan seller in transactions in which other entities also act as sponsor and/or mortgage loan seller. Multiple seller transactions in which CIBC Inc. has participated to date have included for the most part the ‘‘CIBC’’ program, in which CIBC Inc. and JPMCB generally are loan sellers. Some of these loan sellers may be affiliated with underwriters on the transactions. As of March 31, 2007, CIBC Inc. securitized approximately $12.9 billion through the CIBC program.

Neither CIBC Inc. nor any of its affiliates acts as servicer of the commercial mortgage loans in its securitizations. Instead, CIBC Inc. sells the right to be appointed servicer of its securitized loans to rating-agency approved servicers, including Capmark Finance Inc., Midland Loan Services, Inc. and Wachovia Bank National Association, among others.

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The Depositor

On the Closing Date, the Depositor will acquire the mortgage loans from each sponsor and will simultaneously transfer the mortgage loans, without recourse, to the Trustee for the benefit of the Certificateholders. See ‘‘The Depositor’’ in the prospectus.

The Mortgage Loan Sellers

The Mortgage Loan Sellers are JPMCB and CIBC Inc. JPMCB is also a sponsor and is an affiliate of each of the Depositor and J.P. Morgan Securities Inc., one of the Underwriters. CIBC Inc. is also a sponsor and is an affiliate of CIBC World Markets Corp., one of the Underwriters.

JPMorgan Chase Bank, National Association

See ‘‘The Sponsors’’ in this free writing prospectus and the prospectus for a discussion relating to JPMCB.

CIBC Inc.

See ‘‘The Sponsors’’ in this free writing prospectus for a discussion relating to CIBC Inc.

The information set forth in this free writing prospectus concerning the Mortgage Loan Sellers and their underwriting standards has been provided by the Mortgage Loan Sellers.

Underwriting Guidelines and Processes

Each Mortgage Loan Seller has developed guidelines establishing certain procedures with respect to underwriting the mortgage loans originated or purchased by it. Each Mortgage Loan Seller has confirmed to the Depositor and the Underwriters that its guidelines are generally

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consistent with those described below. All of the mortgage loans were generally underwritten in accordance with such guidelines. In some instances, one or more provisions of the guidelines were waived or modified by a Mortgage Loan Seller at origination where it was determined not to adversely affect the related mortgage loan originated by it in any material respect. The mortgage loans to be included in the trust were originated or acquired by each Mortgage Loan Seller in accordance with the commercial mortgage-backed securitization program of each Mortgage Loan Seller.

Property Analysis.    The related Mortgage Loan Seller generally performs or causes to be performed a site inspection to evaluate the location and quality of the related mortgaged properties. Such inspection generally includes an evaluation of functionality, design, attractiveness, visibility and accessibility, as well as location to major thoroughfares, transportation centers, employment sources, retail areas and educational or recreational facilities. The related Mortgage Loan Seller assesses the submarket in which the property is located to evaluate competitive or comparable properties as well as market trends. In addition, the related Mortgage Loan Seller evaluates the property’s age, physical condition, operating history, lease and tenant mix, and management.

Cash Flow Analysis.    The related Mortgage Loan Seller reviews, among other things, historical operating statements, rent rolls, tenant leases and/or budgeted income and expense statements provided by the borrower and makes adjustments in order to determine a debt service coverage ratio, including taking into account the benefits of any governmental assistance programs. See ‘‘Description of the Mortgage Pool—Additional Mortgage Loan Information’’ in this free writing prospectus.

Appraisal and Loan-to-Value Ratio.    For each Mortgaged Property, the related Mortgage Loan Seller obtains a current full narrative appraisal conforming at least to the requirements of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (‘‘FIRREA’’). The appraisal is generally based on the highest and best use of the Mortgaged Property and must include an estimate of the then current market value of the property in its then current condition although in certain cases, a Mortgage Loan Seller may also obtain a value on an ‘‘as-stabilized’’ basis. The related Mortgage Loan Seller then determines the loan-to-value ratio of the mortgage loan at the date of origination or, if applicable, in connection with its acquisition, in each case based on the value set forth in the appraisal.

Evaluation of Borrower.    The Mortgage Loan Seller evaluates the borrower and its principals with respect to credit history and prior experience as an owner and operator of commercial real estate properties. The evaluation will generally include obtaining and reviewing a credit report or other reliable indication of the borrower’s financial capacity; obtaining and verifying credit references and/or business and trade references; and obtaining and reviewing certifications provided by the borrower as to prior real estate experience and current contingent liabilities. Finally, although the mortgage loans generally are non-recourse in nature, in the case of certain mortgage loans, the borrower and certain principals of the borrower may be required to assume legal responsibility for liabilities relating to fraud, misrepresentation, misappropriation of funds and breach of environmental or hazardous waste requirements. The related Mortgage Loan Seller evaluates the financial capacity of the borrower and such principals to meet any obligations that may arise with respect to such liabilities.

Environmental Site Assessment.    Prior to origination, the related Mortgage Loan Seller either (i) obtains or updates an environmental site assessment (‘‘ESA’’) for a Mortgaged Property prepared by a qualified environmental firm or (ii) obtains an environmental insurance policy for a Mortgaged Property. If an ESA is obtained or updated, the related Mortgage Loan Seller reviews the ESA to verify the absence of reported violations of applicable laws and regulations relating to environmental protection and hazardous waste or other material adverse environmental condition or circumstance. In cases in which the ESA identifies violations that would require cleanup, remedial action or any other response estimated to cost in excess of 5% of the outstanding principal balance of the mortgage loan, the related Mortgage Loan Seller either

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(i) determines that another party with sufficient assets is responsible for taking remedial actions directed by an applicable regulatory authority or (ii) requires the borrower to do one of the following: (A) carry out satisfactory remediation activities or other responses prior to the origination of the mortgage loan, (B) establish an operations and maintenance plan, (C) place sufficient funds in escrow or establish a letter of credit at the time of origination of the mortgage loan to complete such remediation within a specified period of time, (D) obtain an environmental insurance policy for the Mortgaged Property, (E) provide or obtain an indemnity agreement or a guaranty with respect to such condition or circumstance, or (F) receive appropriate assurances that significant remediation activities or other significant responses are not necessary or required.

Certain of the mortgage loans may also have secured creditor or other environmental policies. See ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Hazard, Liability and Other Insurance’’ above.

Physical Assessment Report.    Prior to origination, the related Mortgage Loan Seller obtains a physical assessment report (‘‘PAR’’) for each Mortgaged Property prepared by a qualified structural engineering firm. The related Mortgage Loan Seller reviews the PAR to verify that the property is reported to be in satisfactory physical condition, and to determine the anticipated costs of necessary repair, replacement and major maintenance or capital expenditure needs over the term of the mortgage loan. In cases in which the PAR identifies material repairs or replacements needed immediately, the related Mortgage Loan Seller generally requires the borrower to carry out such repairs or replacements prior to the origination of the mortgage loan, or, in many cases, requires the borrower to place sufficient funds in escrow at the time of origination of the mortgage loan to complete such repairs or replacements within not more than twelve months.

Title Insurance Policy.    The borrower is required to provide, and the related Mortgage Loan Seller reviews, a title insurance policy for each Mortgaged Property. The title insurance policy must meet the following requirements: (a) the policy must be written by a title insurer licensed to do business in the jurisdiction where the Mortgaged Property is located; (b) the policy must be in an amount equal to the original principal balance of the mortgage loan; (c) the protection and benefits must run to the mortgagee and its successors and assigns; (d) the policy should be written on a standard policy form of the American Land Title Association or equivalent policy promulgated in the jurisdiction where the Mortgaged Property is located; and (e) the legal description of the Mortgaged Property in the title policy must conform to that shown on the survey of the Mortgaged Property, where a survey has been required.

Property Insurance.    The borrower is required to provide, and the related Mortgage Loan Seller reviews, certificates of required insurance with respect to the Mortgaged Property. Such insurance generally may include: (1) commercial general liability insurance for bodily injury or death and property damage; (2) a fire and extended perils insurance policy providing ‘‘special’’ form coverage including coverage against loss or damage by fire, lightning, explosion, smoke, windstorm and hail, riot or strike and civil commotion; (3) if applicable, boiler and machinery coverage; (4) if the Mortgaged Property is located in a flood hazard area, flood insurance; and (5) such other coverage as the related Mortgage Loan Seller may require based on the specific characteristics of the Mortgaged Property.

The Issuing Entity

J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC19, the issuing entity (the ‘‘Issuing Entity’’), will be a New York common law trust, formed on the Closing Date pursuant to the Pooling and Servicing Agreement. See ‘‘The Issuing Entity’’ in the prospectus.

The only activities that the Issuing Entity may perform are those set forth in the Pooling and Servicing Agreement, which are generally limited to owning and administering the mortgage loans and any REO Property, disposing of defaulted mortgage loans and REO Property, issuing the certificates, making distributions, providing reports to certificateholders and other activities

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described in this free writing prospectus. Accordingly, the Issuing Entity may not issue securities other than the certificates, or invest in securities, other than investing of funds in the Certificate Account and other accounts maintained under the Pooling and Servicing Agreement in certain short-term high-quality investments. The Issuing Entity may not lend or borrow money, except that each Master Servicer, the Special Servicer and the Trustee may make advances of delinquent monthly debt service payments and servicing advances to the Issuing Entity, but only to the extent it deems such advances to be recoverable from the related mortgage loan; such advances are intended to provide liquidity, rather than credit support. The Pooling and Servicing Agreement may be amended as set in this free writing prospectus under ‘‘Servicing of the Mortgage Loans—Amendment.’’ The Issuing Entity administers the mortgage loans through the Trustee, the Paying Agent, the Master Servicers and the Special Servicer. A discussion of the duties of the Trustee, the Paying Agent, the Master Servicers and the Special Servicer, including any discretionary activities performed by each of them, is set forth in this free writing prospectus under ‘‘—The Trustee, Paying Agent, Certificate Registrar and Authenticating Agent,’’ ‘‘—The Master Servicers’’ and ‘‘—The Special Servicer’’ and ‘‘Servicing of the Mortgage Loans.’’

The only assets of the Issuing Entity other than the mortgage loans and any REO Properties are the Certificate Account and other accounts maintained pursuant to the Pooling and Servicing Agreement and the short-term investments in which funds in the Certificate Account and other accounts are invested. The Issuing Entity has no present liabilities, but has potential liability relating to ownership of the mortgage loans and any REO Properties and certain other activities described in this free writing prospectus, and indemnity obligations to the Trustee, the Paying Agent, the Depositor, the Master Servicers and the Special Servicer. The fiscal year of the Trust is the calendar year. The Issuing Entity has no executive officers or board of directors and acts through the Trustee, the Paying Agent, the Master Servicers and the Special Servicer.

The Depositor is contributing the mortgage loans to the Issuing Entity. The Depositor is purchasing the mortgage loans from the Mortgage Loan Sellers, as described in this free writing prospectus under ‘‘Description of the Mortgage Pool—Sale of the Mortgage Loans, Paying Agent; Mortgage File Delivery’’ and ‘‘—Representations and Warranties; Repurchases and Substitutions.’’

The Trustee, Paying Agent, Certificate Registrar and Authenticating Agent

LaSalle Bank National Association (‘‘LaSalle’’) will be the trustee, paying agent, certificate registrar (in that capacity, the ‘‘Certificate Registrar’’), authenticating agent (in that capacity, the ‘‘Authenticating Agent’’) and custodian under the Pooling and Servicing Agreement. LaSalle is a national banking association formed under the federal laws of the United States of America. Its parent company, LaSalle Bank Corporation, is an indirect subsidiary of ABN AMRO Bank N.V., a Netherlands banking corporation. LaSalle has extensive experience serving as trustee on securitizations of commercial mortgage loans. Since 1994, LaSalle has served as trustee or paying agent on over 695 commercial mortgage-backed security transactions involving assets similar to the mortgage loans. As of March 31, 2007, LaSalle serves as trustee or paying agent on over 465 commercial mortgage-backed security transactions. The long-term unsecured debt of LaSalle is rated ‘‘A+’’ by S&P, ‘‘Aa3’’ by Moody’s and ‘‘AA−’’ by Fitch Ratings. The Depositor, the Mortgage Loan Sellers, the sponsors, the Master Servicers and the Special Servicer may maintain other banking relationships in the ordinary course of business with the Trustee. The Trustee’s corporate trust office is located at 135 South LaSalle Street, Suite 1625, Chicago, Illinois, 60603. Attention: Global Securities and Trust Services—JP Morgan 2007-CIBC19 or at such other address as the Trustee may designate from time to time.

In its capacity as custodian, LaSalle will hold the mortgage loan files exclusively for the use and benefit of the trust. The custodian will not have any duty or obligation to inspect, review or examine any of the documents, instruments, certificates or other papers relating to the mortgage loans delivered to it to determine that the same are valid. The disposition of the mortgage loan files will be governed by the Pooling and Servicing Agreement. LaSalle provides custodial services on over 1,000 residential, commercial and asset-backed securitization transactions and maintains almost 2.5 million custodial files in its two vault locations in Elk Grove, Illinois and Irvine,

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California. LaSalle’s two vault locations can maintain a total of approximately 6 million custody files. All custody files are segregated and maintained in secure and fire resistant facilities in compliance with customary industry standards. The vault construction complies with Fannie Mae/Ginnie Mae guidelines applicable to document custodians. LaSalle maintains disaster recovery protocols to ensure the preservation of custody files in the event of force majeure and maintains, in full force and effect, such fidelity bonds and/or insurance policies as are customarily maintained by banks which act as custodians. LaSalle uses unique tracking numbers for each custody file to ensure segregation of collateral files and proper filing of the contents therein and accurate file labeling is maintained through a monthly reconciliation process. LaSalle uses a proprietary collateral review system to track and monitor the receipt and movement internally or externally of custody files and any release or reinstatement of collateral.

Using information set forth in this free writing prospectus, the Trustee will develop the cash flow model for the trust. Based on the monthly loan information provided by the Master Servicers, the Trustee will calculate the amount of principal and interest to be paid to each class of certificates on each Distribution Date. In accordance with the cash flow model and based on the monthly loan information provided by the Master Servicers, the Trustee will perform distribution calculations, remit distributions on the Distribution Date to Certificateholders and prepare a monthly statement to Certificateholders detailing the payments received and the activity on the mortgage loans during the collection period. In performing these obligations, the Trustee will be able to conclusively rely on the information provided to it by the Master Servicers, and the Trustee will not be required to recompute, recalculate or verify the information provided to it by the Master Servicers.

On April 22, 2007, ABN AMRO Holding N.V. agreed to sell ABN AMRO North America Holding Company, the indirect parent of LaSalle Bank National Association, to Bank of America Corporation. The proposed sale currently includes all parts of the Global Securities and Trust Services Group within LaSalle Bank engaged in the business of acting as trustee, securities administrator, master servicer, custodian, collateral administrator, securities intermediary, fiscal agent and issuing and paying agent in connection with securitization transactions.

The contract between ABN AMRO Bank N.V. and Bank of America Corporation contains a 14 calendar day ‘‘go shop’’ clause which continued until 11:59 PM New York time on May 6th, 2007. ABN AMRO Bank N.V. filed a copy of this contract on Form 6-K with the Securities and Exchange Commission on April 25, 2007. The contract provides that the sale of LaSalle Bank National Association is subject to regulatory approvals and other customary closing conditions.

The contract referenced above was entered into by ABN AMRO Bank N.V. without shareholder approval. In response to a challenge of the sale by a shareholders group, a judge in the Enterprise Chamber of the Amsterdam Superior Court in the Netherlands ruled on May 3, 2007 that ABN AMRO Holding N.V. was not permitted to proceed with the sale of LaSalle Bank without shareholder approval. As of the date hereof, a shareholder’s meeting to vote on the proposed sale of LaSalle Bank National Association has not occurred. Various interested parties have filed or have indicated that they will file an appeal of the ruling. On May 4, 2007, Bank of America Corporation filed a lawsuit against ABN AMRO Bank N.V. and ABN AMRO Holding N.V. in the U.S. District Court for the Southern District of New York (Manhattan) seeking, among other things, an injunction prohibiting ABN AMRO Bank N.V. and ABN AMRO Holding N.V. from negotiating a sale of LaSalle Bank National Association or selling LaSalle Bank National Association to any third party other than as provided for in the contract referenced above, monetary damages and specific performance.

As compensation for the performance of its routine duties, LaSalle will be paid a fee (collectively, the ‘‘Trustee Fee’’). The Trustee Fee will be payable monthly from amounts received in respect of the mortgage loans and will be equal to the product of a rate equal to 0.00063% per annum (the ‘‘Trustee Fee Rate’’) and the Stated Principal Balance of the mortgage loans and will be computed in the same manner as interest is calculated on such mortgage loans. In addition, the Trustee will be entitled to recover from the trust fund all reasonable unanticipated

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expenses and disbursements incurred or made by it in the performance of its duties as the Trustee, Paying Agent, Certificate Registrar and Authenticating Agent in accordance with any of the provisions of the Pooling and Servicing Agreement, but not including routine expenses incurred in the ordinary course of performing its duties as Trustee, Paying Agent, Certificate Registrar or Authenticating Agent under the Pooling and Servicing Agreement, and not including any expense, disbursement or advance as may arise from its willful misfeasance, negligence or bad faith. The Trustee will not be entitled to any fee with respect to the 599 Lexington Avenue Pari Passu Companion Loans or the AmeriCold Portfolio Pari Passu Companion Loans. See ‘‘Description of the Pooling Agreements —The Trustee,’’ ‘‘—Duties of the Trustee,’’ ‘‘—Certain Matters Regarding the Trustee’’ and ‘‘—Resignation and Removal of the Trustee’’ in the prospectus.

The Trustee, Paying Agent, Certificate Registrar and Authenticating Agent and each of their respective directors, officers, employees, agents and controlling persons will be entitled to indemnification from the trust fund against any loss, liability or expense incurred without negligence, bad faith or willful misfeasance on their respective parts, arising out of, or in connection with the Pooling and Servicing Agreement, the Certificates and the mortgage loans.

The Master Servicers

General

There will be two master servicers under the Pooling and Servicing Agreement, Capmark Finance Inc. and Wells Fargo Bank, N.A. (each, a ‘‘Master Servicer’’).

Name			No. of Loans						% of Initial Pool Balance
Capmark Finance Inc.					126						55.5	%
Wells Fargo Bank, N.A.					116						44.5	%

Capmark Finance Inc.

Capmark Finance Inc. (‘‘Capmark’’) will be one of the master servicers and will be responsible for the master servicing and administration of the mortgage loans, originated or acquired by JPMCB, pursuant to the Pooling and Servicing Agreement.

Capmark is a California corporation and has been servicing commercial and multifamily mortgage loans in private label commercial mortgage-backed securities transactions since 1995. As of December 31, 2006, Capmark was the master servicer and/or primary servicer of a portfolio of multifamily and commercial loans in commercial mortgage-backed securities transactions in the United States totaling approximately $135.3 billion in aggregate outstanding principal balance. The table below contains information on the size and growth of the portfolio of commercial and multifamily loans in commercial mortgage-backed securities transactions in the United States from 2004 to 2006 in respect of which Capmark has acted as master servicer and/or primary servicer.

			Year (amounts in $ billions)
			2004						2005						2006
CMBS (US)					100.2						122.4						135.3
Other					97.0						102.8						131.5
Total					197.2						225.2						266.8

Capmark has developed policies and procedures for the performance of its master servicing obligations in compliance with applicable servicing agreements, and the applicable servicing criteria set forth in Item 1122 of Regulation AB. These policies and procedures include, among other things, sending delinquency notices for loans prior to servicing transfer.

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No master servicer event of default has occurred in a securitization transaction involving commercial mortgage loans in which Capmark was acting as master servicer as a result of any action or inaction of Capmark as master servicer, including as a result of Capmark’s failure to comply with the applicable servicing criteria in connection with any securitization transaction.

GMAC Commercial Mortgage Corporation legally changed its name to Capmark Finance Inc. in May 2006. Capmark Finance Inc. is a wholly-owned subsidiary of Capmark Financial Group Inc. (‘‘Capmark Financial Group’’), which is majority owned by an entity controlled by affiliates of Kohlberg Kravis Roberts & Co. L.P., Five Mile Capital Partners LLC and Goldman Sachs Capital Partners. The minority owners of Capmark Financial Group consist of GMAC Mortgage Group, Inc. and certain directors and officers of Capmark Financial Group and its subsidiaries.

Capmark Servicer Ireland Limited (formerly known as GMAC Commercial Mortgage Servicing (Ireland) Limited) opened in January 2000 and is headquartered in Mullingar, Ireland. The Irish unit is engaged in servicing all European loans and deals and, as a general matter, provides certain back office functions for Capmark’s portfolio in the United States.

CapMark Overseas Processing India Private Limited opened in September 2002 and was acquired by Capmark in July 2003. CapMark Overseas Processing India Private Limited is located in Hyderabad (Andra Pradesh), India and provides certain back office functions for Capmark’s portfolio in the United States.

Each of Capmark Servicer Ireland Limited and CapMark Overseas Processing India Private Limited report to the same managing director of Capmark.

From time-to-time Capmark and its affiliates are parties to lawsuits and other legal proceedings arising in the ordinary course of business. Capmark does not believe that any such lawsuits or legal proceedings would, individually or in the aggregate, have a material adverse effect on its business or its ability to service as master servicer.

Wells Fargo Bank, N.A.

Wells Fargo Bank, N.A. (‘‘Wells Fargo Bank’’), a national banking association, will be one of the master servicers and will be responsible for the master servicing and administration of the mortgage loans, originated or acquired by CIBC Inc., pursuant to the Pooling and Servicing Agreement. The principal commercial mortgage servicing offices of Wells Fargo Bank are located at 45 Fremont Street, 2nd Floor, San Francisco, California 94105.

Wells Fargo Bank has originated and serviced commercial mortgage loans since before 1975 and has serviced securitized commercial mortgage loans since 1993. Wells Fargo Bank is approved as a master servicer, primary servicer and special servicer for commercial mortgage-backed securities rated by Moody’s, Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. (‘‘S&P’’) and Fitch. Moody’s does not assign specific ratings to servicers. S&P has assigned to Wells Fargo Bank the ratings of STRONG as a primary servicer and as a master servicer and ABOVE AVERAGE as a special servicer. Fitch has assigned to Wells Fargo Bank the ratings of CMS2 as a master servicer, CPS1 as a primary servicer and CSS1 as a special servicer. S&P’s and Fitch’s ratings of a servicer are based on an examination of many factors, including the servicer’s financial condition, management team, organizational structure and operating history.

As of December 31, 2006, the commercial mortgage servicing group of Wells Fargo Bank was responsible for servicing approximately 11,665 commercial and multifamily mortgage loans with an aggregate outstanding principal balance of approximately $103.7 billion, including approximately 10,434 loans securitized in approximately 93 commercial mortgage-backed securitization transactions with an aggregate outstanding principal balance of approximately $99.4 billion, and also including loans owned by institutional investors and government sponsored entities such as Freddie Mac. The properties securing these loans are located in all 50 states and include retail, office, multifamily, industrial, hospitality and other types of income-producing properties. According to the Mortgage Bankers Association of America, as of June 30, 2006, Wells Fargo Bank was the fourth largest commercial mortgage servicer in terms of

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the aggregate outstanding principal balance of loans being master or primary serviced in commercial mortgage-backed securitization transactions.

Wells Fargo Bank has developed policies, procedures and controls for the performance of its master servicing obligations in compliance with applicable servicing agreements, servicing standards and the servicing criteria set forth in Item 1122 of Regulation AB. These policies, procedures and controls include, among other things, measures for notifying borrowers of payment delinquencies and other loan defaults and for working with borrowers to facilitate collections and performance prior to the occurrence of an event that results in the transfer of the loan to special servicing.

A Wells Fargo Bank proprietary website (www.wellsfargo.com/com/comintro) provides investors with access to investor reports for commercial mortgage-backed securitization transactions for which Wells Fargo Bank is master servicer.

Wells Fargo Bank may appoint one or more sub-servicers to perform all or any portion of its duties under the Pooling and Servicing Agreement. Wells Fargo Bank monitors and reviews the performance of sub-servicers appointed by it.

Wells Fargo Bank has received an issuer rating of ‘‘Aaa’’ from Moody’s. Wells Fargo Bank’s long term deposits are rated ‘‘Aaa’’ by Moody’s, ‘‘AA’’ by S&P and ‘‘AA+’’ by Fitch.

Wells Fargo & Company is the holding company for Wells Fargo Bank. Wells Fargo & Company files reports with the Securities and Exchange Commission as required under the Securities Exchange Act of 1934, as amended. Such reports include information regarding Wells Fargo Bank and may be obtained at the website maintained by the Securities and Exchange Commission at www.sec.gov.

The Special Servicer

LNR Partners, Inc. (‘‘LNR Partners’’), a Florida corporation and a subsidiary of LNR Property Holdings Ltd. (‘‘LNR’’), will initially be appointed as Special Servicer under the Pooling and Servicing Agreement. The principal executive offices of LNR Partners are located at 1601 Washington Avenue, Suite 700, Miami Beach, Florida 33139 and its telephone number is (305) 695-5600. LNR through its subsidiaries, affiliates and joint ventures, is involved in the real estate investment, finance and management business and engages principally in:

	•	acquiring, developing, repositioning, managing and selling commercial and multifamily residential real estate properties,

	•	investing in high-yielding real estate loans, and

	•	investing in, and managing as special servicer, unrated and non-investment grade rated commercial mortgage-backed securities (‘‘CMBS’’).

LNR Partners and its affiliates have substantial experience in working out loans and in performing the other obligations of the Special Servicer as more particularly described in the Pooling and Servicing Agreement, including, but not limited to, processing borrower requests for lender consent to assumptions, leases, easements, partial releases and expansion and/or redevelopment of the mortgaged properties. LNR Partners and its affiliates have been engaged in the special servicing of commercial real estate assets for over 14 years. The number of CMBS pools specially serviced by LNR Partners and its affiliates has increased from 46 in December 1998 to 193 as of March 31, 2007. More specifically, LNR Partners (and its predecessors in interest) acted as special servicer with respect to: (a) 84 domestic CMBS pools as of December 31, 2001, with a then current face value in excess of $53 billion; (b) 101 domestic CMBS pools as of December 31, 2002, with a then current face value in excess of $67 billion; (c) 113 domestic CMBS pools as of December 31, 2003, with a then current face value in excess of $79 billion; (d) 134 domestic CMBS pools as of December 31, 2004, with a then current face value in excess of $111 billion; (e) 142 domestic CMBS pools as of December 31, 2005, with a then current face value in excess of $148 billion, (f) 143 domestic CMBS pools as of December 31, 2006, with a then

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current face value in excess of $201 billion, and (g) 144 domestic CMBS pools as of March 31, 2007 with a then current face value in excess of $217 billion. Additionally, LNR Partners has resolved over $17.6 billion of U.S. commercial and multifamily loans over the past 14 years, including approximately $1.1 billion of U.S. commercial and multifamily mortgage loans during 2001, $1.9 billion of U.S. commercial and multifamily mortgage loans during 2002, $1.5 billion of U.S. commercial and multifamily mortgage loans during 2003, $2.1 billion of U.S. commercial and multifamily mortgage loans during 2004, $2.4 billion of U.S. commercial and multifamily mortgage loans during 2005, $0.9 billion of U.S. commercial and multifamily mortgage loans during 2006 and $0.2 billion for the three months ended March 31, 2007.

LNR or one of its affiliates generally seeks investments where it has the right to appoint LNR Partners as the special servicer. LNR Partners and its affiliates have regional offices located across the country in Florida, Georgia, Texas, Massachusetts, North Carolina, California and Colorado, and in Europe, in England and Germany. As of March 31, 2007, LNR Partners had approximately 200 employees responsible for the special servicing of commercial real estate assets. As of March 31, 2007, LNR Partners and its affiliates specially service a portfolio, which included over 24,000 assets in the 50 states, the District of Columbia, the Carribean, Guam, Mexico and Europe with a then-current face value in excess of $277 billion, all of which are commercial real estate assets. Those commercial real estate assets include mortgage loans secured by the same types of income producing properties as secure the mortgage loans backing the Certificates. Accordingly, the assets of LNR Partners and its affiliates may, depending upon the particular circumstances, including the nature and location of such assets, compete with the mortgaged real properties securing the underlying mortgage loans for tenants, purchasers, financing and so forth. LNR Partners does not service any assets other than commercial real estate assets.

LNR Partners maintains internal and external watch lists, corresponds with master servicers on a monthly basis and conducts overall deal surveillance and shadow servicing. LNR Partners has developed distinct strategies and procedures for working with borrowers on problem loans (caused by delinquencies, bankruptcies or other breaches of the loan documents) designed to maximize value from the assets for the benefit of the certificateholders. These strategies and procedures vary on a case by case basis, and include, but are not limited to, liquidation of the underlying collateral, note sales, discounted payoffs, and borrower negotiation or workout in accordance with the servicing standard. Generally, four basic factors are considered by LNR Partners as part of its analysis and determination of what strategies and procedures to utilize in connection with problem loans. They are (i) the condition and type of mortgaged property, (ii) the borrower, (iii) the jurisdiction in which the mortgaged property is located, and (iv) the actual terms, conditions and provisions of the underlying loan documents. After each of these items is evaluated and considered, LNR Partners’ strategy is guided by the servicing standard and all relevant provisions of the applicable pooling and servicing agreement pertaining to specially serviced and REO mortgage loans.

LNR Partners has the highest ratings afforded to special servicers by S&P and Fitch, respectively.

There have not been, during the past three years, any material changes to the policies or procedures of LNR Partners in the servicing function it will perform under the Pooling and Servicing Agreement for assets of the same type included in this securitization transaction. LNR Partners has not engaged, and currently does not have any plans to engage, any sub-servicers to perform on its behalf any of its duties with respect to this securitization transaction. LNR Partners does not believe that its financial condition will have any adverse effect on the performance of its duties under the Pooling and Servicing Agreement and, accordingly, will not have any material impact on the mortgage pool performance or the performance of the Certificates. Generally, LNR Partners’ servicing functions under pooling and servicing agreements do not include collection on the pool assets, however LNR Partners does maintain certain operating accounts with respect to REO mortgage loans in accordance with the terms of the applicable pooling and servicing agreements and consistent with the servicing standard set forth in each of such pooling and servicing agreements. LNR Partners does not have any material primary advancing obligations

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with respect to the CMBS pools as to which it acts as special servicer, except with respect to the obligation to make servicing advances only on specially serviced mortgage loans in five commercial mortgage securitization transactions, and the obligation to make advances of delinquent debt service payments on specially serviced mortgage loans in one commercial mortgage securitization transaction. Under certain circumstances, LNR Partners also has the obligation to make servicing advances and advances of delinquent debt service payments with respect to one collateralized debt obligation transaction.

LNR Partners will not have primary responsibility for custody services of original documents evidencing the underlying mortgage loans. On occasion, LNR Partners may have custody of certain of such documents as necessary for enforcement actions involving particular mortgage loans or otherwise. To the extent that LNR Partners has custody of any such documents, such documents will be maintained in a manner consistent with the Servicing Standard.

No securitization transaction involving commercial or multifamily mortgage loans in which LNR Partners was acting as special servicer has experienced an event of default as a result of any action or inaction by LNR Partners as special servicer. LNR Partners has not been terminated as servicer in a commercial mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger. In addition, there has been no previous disclosure of material noncompliance with servicing criteria by LNR Partners with respect to any other securitization transaction involving commercial or multifamily mortgage loans in which LNR Partners was acting as special servicer.

There are, to the actual current knowledge of LNR Partners, no special or unique factors of a material nature involved in special servicing the particular types of assets included in the subject securitization, as compared to the types of assets specially serviced by LNR Partners in other commercial mortgage-backed securitization pools generally, for which LNR Partners has developed processes and procedures that materially differ from the processes and procedures employed by LNR Partners in connection with its specially servicing of commercial mortgage backed securitization pools generally.

There are currently no legal proceedings pending, and no legal proceedings known to be contemplated by governmental authorities, against LNR Partners or of which any of its property is the subject, that is material to the Certificateholders.

LNR Partners is not an affiliate of the Depositor, the sponsor(s), the trust, the Master Servicers, the Trustee or any originator of any of the underlying mortgage loans identified in this free writing prospectus.

LNR Securities Holdings, LLC, an affiliate of LNR Partners, will acquire an interest in one or more Classes of the Certificates. Otherwise, except for LNR Partners acting as Special Servicer for this securitization transaction, there are no specific relationships that are material involving or relating to this securitization transaction or the securitized mortgage loans between LNR Partners or any of its affiliates, on the one hand, and the Depositor, sponsor(s) or the trust, on the other hand, that currently exist or that existed during the past two years. In addition, there are no business relationships, agreements, arrangements, transactions or understandings that have been entered into outside the ordinary course of business or on terms other than would be obtained in an arm’s length transaction with an unrelated third party—apart from the subject securitization transaction—between LNR Partners or any of its affiliates, on the one hand, and the Depositor, the sponsor(s) or the trust, on the other hand, that currently exist or that existed during the past two years and that are material to an investor’s understanding of the Offered Certificates.

Replacement of the Special Servicer

The Special Servicer may be removed, and a successor Special Servicer appointed at any time by the Directing Certificateholder, provided, that each Rating Agency confirms in writing that the replacement of the Special Servicer, in and of itself, will not cause a qualification, withdrawal or downgrade of the then-current ratings assigned to any Class of Certificates. With respect to the

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599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Special Servicer may be removed, and a successor 599 Lexington Avenue Special Servicer appointed at any time by the 599 Lexington Avenue Majority Holders, to the extent set forth in the 599 Lexington Avenue Intercreditor Agreement. With respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Special Servicer may be removed, and a successor special servicer appointed, at any time by the AmeriCold Portfolio Directing Certificateholder, to the extent set forth in the AmeriCold Portfolio Intercreditor Agreement.

Servicing and Other Compensation and Payment of Expenses

The fee of each Master Servicer (the ‘‘Servicing Fee’’) will be payable monthly from amounts received in respect of each mortgage loan (including the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) and, if provided under the related Intercreditor Agreement, the Companion Loans and the AB Subordinate Companion Loans, and will accrue at a rate (the ‘‘Servicing Fee Rate’’), equal to a per annum rate ranging from 0.0100% to 0.1100%. As of the Cut-off Date, the weighted average Servicing Fee Rate will be approximately 0.0245% per annum. In addition to the Servicing Fee, each Master Servicer will be entitled to retain, as additional servicing compensation (other than with respect to the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan), (1) a specified percentage of application, defeasance and certain non-material modification, waiver and consent fees, provided, with respect to the non-material modification, waiver and consent fees, the consent of the Special Servicer is not required for the related transaction, provided, further, that the applicable Master Servicer will not be entitled to any fees for defeasances or releases received with respect to the 599 Lexington Avenue Loan or the AmeriCold Portfolio Loan, (2) a specified percentage of all assumption (subject to certain subservicing agreements and other than with respect to any fees for assumptions received with respect to the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan), extension, material modification, waiver, consent and earnout fees, in each case, with respect to all mortgage loans, the AB Subordinate Companion Loans and the related Companion Loans (to the extent permitted under the related Intercreditor Agreement) that are not Specially Serviced Mortgage Loans, but arise from a transaction that requires the approval of the Special Servicer and (3) late payment charges and default interest paid by the borrowers (that were collected while the related mortgage loans or the related Companion Loans (to the extent permitted under the related Intercreditor Agreement) and, if provided under the related Intercreditor Agreement, the related AB Subordinate Companion Loans were not Specially Serviced Mortgage Loans), but only to the extent such late payment charges and default interest are not needed to pay interest on Advances or certain additional trust fund expenses incurred with respect to the related mortgage loan or, if provided under the related Intercreditor Agreement, the related AB Subordinate Companion Loans since the Closing Date. Each Master Servicer also is authorized but not required to invest or direct the investment of funds held in the Certificate Account in Permitted Investments, and each Master Servicer will be entitled to retain any interest or other income earned on those funds and will bear any losses resulting from the investment of these funds, except as set forth in the Pooling and Servicing Agreement. Each Master Servicer also is entitled to retain any interest earned on any servicing escrow account to the extent the interest is not required to be paid to the related borrowers.

The Servicing Fee is calculated on the Stated Principal Balance of the mortgage loans (including the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan), the related Companion Loans and the AB Subordinate Companion Loans and in the same manner as interest is calculated on the mortgage loans and the AB Subordinate Companion Loans. The Servicing Fee for each mortgage loan is included in the Administrative Cost Rate listed for that mortgage loan on Annex A-1. Any Servicing Fee Rate calculated on an Actual/360 Basis will be recomputed on the basis of twelve 30-day months, assuming a 360-day year (‘‘30/360 Basis’’) for purposes of calculating the Net Mortgage Rate. With respect to the AB Subordinate Companion Loans, the Servicing Fee, if any, will be computed and allocated as provided in the related Intercreditor Agreement.

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The principal compensation to be paid to the Special Servicer in respect of its special servicing activities will be the Special Servicing Fee, the Workout Fee and the Liquidation Fee.

The 599 Lexington Avenue Loan will be serviced under the 2007-LDP10 Pooling and Servicing Agreement (including those occasions under the 2007-LDP10 Pooling and Servicing Agreement when the servicing of the 599 Lexington Avenue Loan has been transferred from the 599 Lexington Avenue Master Servicer to the 599 Lexington Avenue Special Servicer). Accordingly, in its capacity as the Special Servicer under the Pooling and Servicing Agreement, the Special Servicer will not be entitled to receive any servicing compensation for the 599 Lexington Avenue Loan. Only the 599 Lexington Avenue Special Servicer will be entitled to special servicing compensation on the 599 Lexington Avenue Loan.

The AmeriCold Portfolio Loan will be serviced under the 2007-CIBC18 Pooling and Servicing Agreement (including those occasions under the 2007-CIBC18 Pooling and Servicing Agreement when the servicing of the AmeriCold Portfolio Loan has been transferred from the AmeriCold Portfolio Primary Servicer to the AmeriCold Portfolio Special Servicer). Accordingly, in its capacity as the Special Servicer under the Pooling and Servicing Agreement, the Special Servicer will not be entitled to receive any servicing compensation for the AmeriCold Portfolio Loan. Only the AmeriCold Portfolio Special Servicer will be entitled to special servicing compensation on the AmeriCold Portfolio Loan.

The ‘‘Special Servicing Fee’’ will accrue with respect to each Specially Serviced Mortgage Loan at a rate equal to 0.25% per annum (the ‘‘Special Servicing Fee Rate’’) calculated on the basis of the Stated Principal Balance of the related Specially Serviced Mortgage Loans and in the same manner as interest is calculated on the Specially Serviced Mortgage Loans, and will be payable monthly, first from Liquidation Proceeds and Insurance and Condemnation Proceeds with respect to such Specially Serviced Mortgage Loan and then from general collections on all the mortgage loans and any REO Properties in the trust fund. The 599 Lexington Avenue Whole Loan will be subject to a special servicing fee pursuant to the 2007-LDP10 Pooling and Servicing Agreement, which will accrue at a rate equal to 0.25% per annum. The AmeriCold Portfolio Whole Loan will be subject to a special servicing fee pursuant to the 2007-CIBC18 Pooling and Servicing Agreement, which will accrue at a rate equal to 0.25% per annum.

The ‘‘Workout Fee’’ will generally be payable with respect to each Corrected Mortgage Loan and will be calculated by application of a ‘‘Workout Fee Rate’’ of 1.00% to each collection of interest and principal (including scheduled payments, prepayments, balloon payments, and payments at maturity) received on the respective mortgage loan (including the AmeriCold Portfolio Loan) for so long as it remains a Corrected Mortgage Loan. The Workout Fee with respect to any Corrected Mortgage Loan will cease to be payable if the Corrected Mortgage Loan again becomes a Specially Serviced Mortgage Loan but will become payable again if and when the mortgage loan again becomes a Corrected Mortgage Loan. The 599 Lexington Avenue Whole Loan will be subject to a workout fee pursuant to the 2007-LDP10 Pooling and Servicing Agreement, which will accrue at a rate equal to 1.00% per annum. The AmeriCold Portfolio Whole Loan will be subject to a workout fee pursuant to the 2007-CIBC18 Pooling and Servicing Agreement, which will accrue at a rate equal to 1.00% per annum.

If the Special Servicer is terminated (other than for cause) or resigns, it shall retain the right to receive any and all Workout Fees payable with respect to a mortgage loan that became a Corrected Mortgage Loan during the period that it acted as Special Servicer and remained a Corrected Mortgage Loan at the time of that termination or resignation, but such fee will cease to be payable if the Corrected Mortgage Loan again becomes a Specially Serviced Mortgage Loan. The successor special servicer will not be entitled to any portion of those Workout Fees. If the Special Servicer resigns or is terminated (other than for cause), it will receive any Workout Fees payable on Specially Serviced Mortgage Loans for which the resigning or terminated Special Servicer had cured the event of default through a modification, restructuring or workout negotiated by the Special Servicer and evidenced by a signed writing, but which had not as of the time the Special Servicer resigned or was terminated become a Corrected Mortgage Loan solely

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because the borrower had not made three consecutive timely Periodic Payments and which subsequently becomes a Corrected Mortgage Loan as a result of the borrower making such three consecutive timely Periodic Payments.

A ‘‘Liquidation Fee’’ will be payable with respect to each Specially Serviced Mortgage Loan as to which the Special Servicer obtains a full or discounted payoff (or unscheduled partial payment to the extent such prepayment is required by the Special Servicer as a condition to a workout) from the related borrower and, except as otherwise described below, with respect to any Specially Serviced Mortgage Loan or REO Property as to which the Special Servicer receives any Liquidation Proceeds or Insurance and Condemnation Proceeds. The Liquidation Fee for each Specially Serviced Mortgage Loan will be payable from, and will be calculated by application of a ‘‘Liquidation Fee Rate’’ of 1.00% to the related payment or proceeds. Notwithstanding anything to the contrary described above, no Liquidation Fee will be payable based upon, or out of, Liquidation Proceeds received in connection with (i) the repurchase of any mortgage loan by a Mortgage Loan Seller for a breach of representation or warranty or for defective or deficient mortgage loan documentation within the time period (or extension thereof) provided for such repurchase in the related mortgage loan purchase agreement, (ii) the purchase of any Specially Serviced Mortgage Loan by the majority holder of the Controlling Class within the first 90 days after the Special Servicer’s initial determination of the fair value of such Specially Serviced Mortgage Loan, the Special Servicer, within the first 90 days after the Special Servicer’s initial determination of the fair value of such Specially Serviced Mortgage Loan, or its assignee (other than an unaffiliated assignee of the Special Servicer which purchases such Specially Serviced Mortgage Loan more than 90 days following the Special Servicer’s initial determination of the fair value of such Specially Serviced Mortgage Loan) or the applicable Master Servicer, (iii) the purchase of all of the mortgage loans and REO Properties in connection with an optional termination of the trust fund, (iv) the purchase of an AB Mortgage Loan by the holder of the related AB Subordinate Companion Loan generally within the first 90 days after such AB Mortgage Loan becomes a Specially Serviced Mortgage Loan pursuant to the related Intercreditor Agreement, (v) the purchase of any loan by a related mezzanine lender, provided that a Liquidation Fee will be payable with respect to any purchase by a mezzanine lender, if such purchase by the related mezzanine lender does not occur within 90 days following the date the related mortgage loan becomes a Specially Serviced Mortgage Loan or (vi) with respect to the AmeriCold Portfolio Pari Passu Companion Loans, the purchase of the related AmeriCold Portfolio Companion Notes under a separate pooling and servicing agreement. The 599 Lexington Avenue Whole Loan will be subject to a liquidation fee pursuant to the 2007-LDP10 Pooling and Servicing Agreement, which will accrue at a comparable rate per annum. The AmeriCold Portfolio Whole Loan will be subject to a liquidation fee pursuant to the 2007-CIBC18 Pooling and Servicing Agreement, which will accrue at a comparable rate per annum. The Special Servicer may not receive a Workout Fee and a Liquidation Fee with respect to the same proceeds collected on a mortgage loan.

Any Liquidation Fees in respect of the AmeriCold Portfolio Loan will be payable out of, and based on, collections on the AmeriCold Portfolio Whole Loan.

The Special Servicer will also be entitled to additional servicing compensation in the form of all application fees or other fees with respect to assumptions, extensions and modifications and all defeasance fees, in each case, received with respect to the Specially Serviced Mortgage Loans, and a specified percentage of all application, assumption, extension, material modification, waiver, consent and earnout fees received with respect to all mortgage loans (except for the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) that are not Specially Serviced Mortgage Loans and for which the Special Servicer’s consent or approval is required. The Special Servicer will also be entitled to late payment charges and default interest paid by the borrowers and collected while the related mortgage loans were Specially Serviced Mortgage Loans and that are not needed to pay interest on Advances or certain additional trust fund expenses with respect to the related mortgage loan since the Closing Date.

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Although the Master Servicers and the Special Servicer are each required to service and administer the pool of mortgage loans in accordance with the Servicing Standards above and, accordingly, without regard to their rights to receive compensation under the Pooling and Servicing Agreement, additional servicing compensation in the nature of assumption and modification fees may under certain circumstances provide the Master Servicers or the Special Servicer, as the case may be, with an economic disincentive to comply with this standard.

As and to the extent described in this free writing prospectus under ‘‘Description of the Certificates—Advances,’’ the Master Servicers, the Trustee and the Special Servicer, as applicable, will be entitled to receive interest on Advances, which will be paid contemporaneously with the reimbursement of the related Advance.

Each of the Master Servicers and the Special Servicer will be required to pay its overhead and any general and administrative expenses incurred by it in connection with its servicing activities under the Pooling and Servicing Agreement. Neither the Master Servicers nor the Special Servicer will be entitled to reimbursement for any expenses incurred by it except as expressly provided in the Pooling and Servicing Agreement. The Master Servicers will be responsible for all fees payable to any sub-servicers. See ‘‘Description of the Certificates—Distributions—Method, Timing and Amount’’ in this free writing prospectus and ‘‘Description of the Pooling Agreements— Certificate Account’’ and ‘‘—Servicing Compensation and Payment of Expenses’’ in the prospectus.

If a borrower prepays a mortgage loan, in whole or in part, after the due date but on or before the Determination Date in any calendar month, the amount of interest (net of related Servicing Fees) accrued on such prepayment from such due date to, but not including, the date of prepayment (or any later date through which interest accrues) will, to the extent actually collected, constitute a ‘‘Prepayment Interest Excess.’’ Conversely, if a borrower prepays a mortgage loan, in whole or in part, after the Determination Date (or, with respect to each mortgage loan with a due date occurring after the related Determination Date, the related due date) in any calendar month and does not pay interest on such prepayment through the following due date, then the shortfall in a full month’s interest (net of related Servicing Fees) on such prepayment will constitute a ‘‘Prepayment Interest Shortfall.’’ Prepayment Interest Excesses (to the extent not offset by Prepayment Interest Shortfalls) collected on the mortgage loans will be retained by the Master Servicers as additional servicing compensation.

Each Master Servicer will be required to deliver to the Paying Agent for deposit in the Distribution Account on each Master Servicer Remittance Date, without any right of reimbursement thereafter, a cash payment (a ‘‘Compensating Interest Payment’’) in an amount equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with voluntary principal prepayments received in respect of the mortgage loans (other than a Specially Serviced Mortgage Loan or a mortgage loan on which the Special Servicer allowed a prepayment on a date other than the applicable Due Date) for the related Distribution Date, and (ii) the aggregate of (A) that portion of its Servicing Fees for the related Distribution Date that is, in the case of each and every mortgage loan and REO Loan for which such Servicing Fees are being paid in such Due Period, calculated at 0.01% per annum, (B) all Prepayment Interest Excesses in respect of the mortgage loans for the related Distribution Date and (C) to the extent earned solely on principal payments, net investment earnings received by such Master Servicer during such Due Period with respect to the mortgage loans and related Companion Loan subject to such prepayment. If a Prepayment Interest Shortfall occurs as a result of a Master Servicer’s allowing the related borrower to deviate from the terms of the related mortgage loan documents regarding principal prepayments (other than (X) subsequent to a default under the related mortgage loan documents, (Y) pursuant to applicable law or a court order, or (Z) at the request or with the consent of the Directing Certificateholder), then, for purposes of calculating the Compensating Interest Payment for the related Distribution Date, the amount in clause (ii) above shall be the aggregate of (A) all Servicing Fees payable to that Master Servicer for such Due Period, (B) all Prepayment Interest Excesses payable to that Master Servicer and (C) to the extent earned on principal prepayments, net investment earnings received by that

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Master Servicer during such Due Period with respect to the mortgage loan subject to such prepayment. In no event will the rights of the Certificateholders to the offset of the aggregate Prepayment Interest Shortfalls be cumulative.

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Description of the Certificates

General

The Certificates will be issued pursuant to a pooling and servicing agreement, among the Depositor, the Master Servicers, the Special Servicer, the Trustee and the Paying Agent (the ‘‘Pooling and Servicing Agreement’’) and will represent in the aggregate the entire beneficial ownership interest in J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC19, which will be a trust fund consisting of: (1) the mortgage loans and all payments under and proceeds of the mortgage loans received after the Cut-off Date (exclusive of payments of principal and/or interest due on or before the Cut-off Date and interest relating to periods prior to, but due after, the Cut-off Date); (2) any REO Property but, in the case of any mortgage loan with a split loan structure, only to the extent of the trust fund’s interest therein; (3) those funds or assets as from time to time are deposited in the Certificate Account, the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account, the Floating Rate Accounts or the REO Account, if established; (4) the rights of the mortgagee under all insurance policies with respect to its mortgage loans; (5) certain rights of the Depositor under the Purchase Agreements relating to mortgage loan document delivery requirements and the representations and warranties of each Mortgage Loan Seller regarding the mortgage loans it sold to the Depositor; and (6) the Swap Contracts for the benefit of the Class A-MFL and Class A-JFL Certificates (the ‘‘Swap Contracts’’).

The Depositor’s Commercial Mortgage Pass-Through Certificates, Series 2007-CIBC19 (the ‘‘Certificates’’) will consist of the following classes (each, a ‘‘Class’’): the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates (collectively, the ‘‘Class A Certificates’’), the Class X-1 and Class X-2 Certificates (collectively, the ‘‘Class X Certificates’’), and the Class A-M, Class A-MFL, Class A-J, Class A-JFL, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P, Class NR, Class R and Class LR Certificates. The Class A Certificates and the Class X Certificates are referred to collectively in this free writing prospectus as the ‘‘Senior Certificates.’’ The Class A-M, Class A-MFL, Class A-J, Class A-JFL, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates are referred to collectively in this free writing prospectus as the ‘‘Subordinate Certificates.’’ The Class A-M, Class A-MFL, Class A-J, Class A-JFL, Class B, Class C and Class D Certificates are referred to in this free writing prospectus as the ‘‘Subordinate Offered Certificates.’’ The Class R and Class LR Certificates are referred to collectively in this free writing prospectus as the ‘‘Residual Certificates.’’

Only the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class A-M, Class A-MFL, Class A-J, Class A-JFL, Class X-1, Class X-2, Class B, Class C and Class D Certificates are offered hereby (collectively, the ‘‘Offered Certificates’’). The Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P, Class NR, Class R and Class LR Certificates (collectively, the ‘‘Non-Offered Certificates’’) have not been registered under the Securities Act of 1933, as amended, and are not offered hereby.

On the Closing Date, the ‘‘Class A-MFL Regular Interest’’ will also be issued by the trust as an uncertificated regular interest in one of the REMICs. The Class A-MFL Regular Interest is not offered by this free writing prospectus. The Depositor will transfer the Class A-MFL Regular Interest to the trust in exchange for the Class A-MFL Certificates. The Class A-MFL Certificates will represent all of the beneficial ownership interest in the portion of the trust that consists of the Class A-MFL Regular Interest, the A-MFL Floating Rate Account and the A-MFL Swap Contract.

On the Closing Date, the ‘‘Class A-JFL Regular Interest’’ will also be issued by the trust as an uncertificated regular interest in one of the REMICs. The Class A-JFL Regular Interest is not offered by this free writing prospectus. The Depositor will transfer the Class A-JFL Regular Interest to the trust in exchange for the Class A-JFL Certificates. The Class A-JFL Certificates will represent all of the beneficial ownership interest in the portion of the trust that consists of the Class A-JFL Regular Interest, the A-JFL Floating Rate Account and the A-JFL Swap Contract.

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The ‘‘Certificate Balance’’ of any Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X-1 Certificates, Class X-2 Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests (and, correspondingly, the Class A-MFL and Class A-JFL Certificates) outstanding at any time represents the maximum amount that its holders are entitled to receive as distributions allocable to principal from the cash flow on the mortgage loans and the other assets in the trust fund. On each Distribution Date, the Certificate Balance of each Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X-1 Certificates, Class X-2 Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests will be reduced by any distributions of principal actually made on, and any Collateral Support Deficit actually allocated to, that Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests on that Distribution Date. With respect to any Class of Certificates (other than the Class A-MFL and Class A-JFL Certificates) or the Class A-MFL or Class A-JFL Regular Interest that has unreimbursed Collateral Support Deficit allocated to such Class, the Certificate Balance of such Class may be increased by the amount of any recoveries of Nonrecoverable Advances, up to the unreimbursed Collateral Support Deficit for such Class, allocated in accordance with the distribution priorities described under ‘‘—Distributions—Priority’’ below. The initial Certificate Balance of each Class of Offered Certificates is expected to be the balance set forth on the cover of this free writing prospectus. The Class X-1 Certificates, the Class X-2 Certificates and the Residual Certificates will not have Certificate Balances or entitle their holders to distributions of principal.

The Certificate Balance of the Class A-MFL Certificates will be reduced or increased on each Distribution Date in an amount corresponding to any such reduction or increase in the Certificate Balance of the Class A-MFL Regular Interest. The initial Certificate Balance of the Class A-MFL Certificates will be equal to the initial Certificate Balance of the Class A-MFL Regular Interest, which is expected to be the balance set forth on the cover of this free writing prospectus.

The Certificate Balance of the Class A-JFL Certificates will be reduced or increased on each Distribution Date in an amount corresponding to any such reduction or increase in the Certificate Balance of the Class A-JFL Regular Interest. The initial Certificate Balance of the Class A-JFL Certificates will be equal to the initial Certificate Balance of the Class A-JFL Regular Interest, which is expected to be the balance set forth on the cover of this free writing prospectus.

The Class X-1 and Class X-2 Certificates will not have a Certificate Balance, but will represent the right to receive distributions of interest in an amount equal to the aggregate interest accrued on their notional amount (‘‘Notional Amount’’). The Notional Amount of the Class X-1 Certificates will equal the aggregate of the Certificate Balances of each Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X-1 Certificates, Class X-2 Certificates and Residual Certificates) (the ‘‘Principal Balance Certificates’’) and the Class A-MFL and Class A-JFL Regular Interests outstanding from time-to-time. The initial Notional Amount of the Class X-1 Certificates will be approximately $3,288,806,503.

The Notional Amount of the Class X-2 Certificates from time to time will equal the sum of the components of the Class X-2 Certificates (each, a ‘‘Class X-2 Component’’). Each of the Class X-2 Components will relate to a particular Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest and, at any time during any of the periods specified on Schedule II to this free writing prospectus, will equal the lesser of (a) the specific amount identified in the table on Schedule II to this free writing prospectus with respect to the related Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest for that period and (b) the then Certificate Balance of the related Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest. Notwithstanding anything to the contrary in this free writing prospectus, the Notional Amount of the Class X-2 Certificates will be $0 following the Distribution Date on June 12, 2014.

The initial Notional Amount of the Class X-2 Certificates will be approximately $3,263,760,000.

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The Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will have an aggregate initial Certificate Balance of approximately $250,771,503.

The Offered Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X-1 Certificates and Class X-2 Certificates) will be maintained and transferred in book-entry form and issued in denominations of $10,000 initial Certificate Balance, and integral multiples of $1 in excess of that amount. The Class A-MFL and Class A-JFL Certificates will be offered in minimum denominations of $100,000 initial Certificate Balance. The Class X-1 and Class X-2 Certificates will be issued, maintained and transferred only in minimum denominations of authorized initial Notional Amount of not less than $1,000,000, and in integral multiples of $1 in excess thereof. The ‘‘Percentage Interest’’ evidenced by any Certificate (other than the Residual Certificates) is equal to its initial denomination as of the Closing Date, divided by the initial Certificate Balance or Notional Amount of the Class to which it belongs.

The Offered Certificates will initially be represented by one or more global certificates registered in the name of the nominee of The Depository Trust Company (‘‘DTC’’). The Depositor has been informed by DTC that DTC’s nominee will be Cede & Co. No person acquiring an interest in the Offered Certificates (this person, a ‘‘Certificate Owner’’) will be entitled to receive an Offered Certificate in fully registered, certificated form, a definitive certificate, representing its interest in that Class, except as set forth under ‘‘—Book-Entry Registration and Definitive Certificates’’ below. Unless and until definitive certificates are issued, all references to actions by holders of the Offered Certificates will refer to actions taken by DTC upon instructions received from Certificate Owners through its participating organizations (together with Clearstream Banking, société anonyme (‘‘Clearstream’’) and Euroclear Bank, as operator of the Euroclear System (‘‘Euroclear’’) participating organizations (the ‘‘Participants’’), and all references in this free writing prospectus to payments, notices, reports and statements to holders of the Offered Certificates will refer to payments, notices, reports and statements to DTC or Cede & Co., as the registered holder of the Offered Certificates, for distribution to Certificate Owners through DTC and its Participants in accordance with DTC procedures. See ‘‘Description of the Certificates— Book-Entry Registration and Definitive Certificates’’ in the prospectus.

Until definitive certificates are issued, interests in any Class of Offered Certificates will be transferred on the book-entry records of DTC and its Participants.

Book-Entry Registration and Definitive Certificates

General.    Certificate Owners may hold their Certificates through DTC (in the United States) or Clearstream or Euroclear (in Europe) if they are Participants in that system, or indirectly through organizations that are Participants in those systems. Clearstream and Euroclear will hold omnibus positions on behalf of the Clearstream Participants and the Euroclear Participants, respectively, through customers’ securities accounts in Clearstream’s and Euroclear’s names on the books of their respective depositories (collectively, the ‘‘Depositories’’) which in turn will hold those positions in customers’ securities accounts in the Depositories’ names on the books of DTC. DTC is a limited purpose trust company organized under the New York Banking Law, a ‘‘banking organization’’ within the meaning of the New York Banking Law, a member of the Federal Reserve System, a ‘‘clearing corporation’’ within the meaning of the New York Uniform Commercial Code and a ‘‘clearing agency’’ registered pursuant to Section 17A of the Securities Exchange Act of 1934, as amended. DTC was created to hold securities for its Participants and to facilitate the clearance and settlement of securities transactions between Participants through electronic computerized book-entries, thereby eliminating the need for physical movement of certificates. Participants include securities brokers and dealers, banks, trust companies and clearing corporations (‘‘Direct Participants’’). Indirect access to the DTC system also is available to others (such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a Participant), either directly or indirectly (‘‘Indirect Participants’’). Transfers between DTC Participants will occur in accordance with DTC rules.

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Transfers between Clearstream Participants and Euroclear Participants will occur in accordance with their applicable rules and operating procedures.

Cross-market transfers between persons holding directly or indirectly through DTC, on the one hand, and directly through Clearstream Participants or Euroclear Participants, on the other, will be effected in DTC in accordance with DTC rules on behalf of the relevant European international clearing system by its Depository; however, these cross-market transactions will require delivery of instructions to the relevant European international clearing system by the counterparty in that system in accordance with its rules and procedures. If the transaction complies with all relevant requirements, Euroclear or Clearstream, as the case may be, will then deliver instructions to the Depository to take action to effect final settlement on its behalf.

Because of time-zone differences, it is possible that credits of securities in Clearstream or Euroclear as a result of a transaction with a DTC Participant will be made during the subsequent securities settlement processing, dated the business day following the DTC settlement date, and those credits or any transactions in those securities settled during this processing will be reported to the relevant Clearstream Participant or Euroclear Participant on that business day. Cash received in Clearstream or Euroclear as a result of sales of securities by or through a Clearstream Participant or a Euroclear Participant to a DTC Participant will be received with value on the DTC settlement date but, due to time-zone differences, may be available in the relevant Clearstream or Euroclear cash account only as of the business day following settlement in DTC.

Certificate Owners that are not Direct or Indirect Participants but desire to purchase, sell or otherwise transfer ownership of, or other interests in, the Offered Certificates may do so only through Direct and Indirect Participants. In addition, Certificate Owners will receive all distributions of principal of and interest on the Offered Certificates from the Paying Agent through DTC and its Direct and Indirect Participants. Accordingly, Certificate Owners may experience delays in their receipt of payments, since those payments will be forwarded by the Paying Agent to Cede & Co., as nominee of DTC. DTC will forward those payments to its Participants, which thereafter will forward them to Indirect Participants or beneficial owners of Offered Certificates. Except as otherwise provided under ‘‘—Reports to Certificateholders; Certain Available Information’’ below, Certificate Owners will not be recognized by the Trustee, the Paying Agent, the Special Servicer or the Master Servicers as holders of record of Certificates and Certificate Owners will be permitted to receive information furnished to Certificateholders and to exercise the rights of Certificateholders only indirectly through DTC and its Direct and Indirect Participants.

Under the rules, regulations and procedures creating and affecting DTC and its operations (the ‘‘Rules’’), DTC is required to make book-entry transfers of the Offered Certificates among Participants and to receive and transmit distributions of principal of, and interest on, the Offered Certificates. Direct and Indirect Participants with which Certificate Owners have accounts with respect to the Offered Certificates similarly are required to make book-entry transfers and receive and transmit the distributions on behalf of their respective Certificate Owners. Accordingly, although Certificate Owners will not possess physical certificates evidencing their interests in the Offered Certificates, the Rules provide a mechanism by which Certificate Owners, through their Direct and Indirect Participants, will receive distributions and will be able to transfer their interests in the Offered Certificates.

Because DTC can only act on behalf of Participants, who in turn act on behalf of Indirect Participants and certain banks, the ability of Certificateholders to pledge the Certificates to persons or entities that do not participate in the DTC system, or to otherwise act with respect to the Certificates, may be limited due to the lack of a physical certificate for the Certificates.

DTC has advised the Depositor that it will take any action permitted to be taken by a holder of an Offered Certificate under the Pooling and Servicing Agreement only at the direction of one or more Participants to whose accounts with DTC the Offered Certificates are credited. DTC may take conflicting actions with respect to other undivided interests to the extent that those actions are taken on behalf of Participants whose holdings include the undivided interests.

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Although DTC, Euroclear and Clearstream have implemented the foregoing procedures in order to facilitate transfers of interests in global certificates among Participants of DTC, Euroclear and Clearstream, they are under no obligation to perform or to continue to comply with the foregoing procedures, and the foregoing procedures may be discontinued at any time.

None of the Depositor, the Underwriters, the Master Servicers, the Special Servicer, the Trustee or the Paying Agent will have any liability for any actions taken by DTC, Euroclear or Clearstream, their respective Direct or Indirect Participants or their nominees, including, without limitation, actions for any aspect of the records relating to or payments made on account of beneficial ownership interests in the Offered Certificates held by Cede & Co., as nominee for DTC, or for maintaining, supervising or reviewing any records relating to that beneficial ownership interest. The information in this free writing prospectus concerning DTC, Clearstream and Euroclear and their book-entry systems has been obtained from sources believed to be reliable, but the Depositor takes no responsibility for the accuracy or completeness of the information.

Definitive Certificates.    Definitive certificates will be issued to Certificate Owners or their nominees, respectively, rather than to DTC or its nominee, only under the limited conditions set forth under ‘‘Description of the Certificates—Book-Entry Registration and Definitive Certificates’’ in the prospectus.

Upon the occurrence of certain events, as described in the prospectus in the second to last paragraph under ‘‘Description of the Certificates—Book-Entry Registration and Definitive Certificates,’’ the Paying Agent is required to notify, through DTC, Direct Participants who have ownership of Offered Certificates as indicated on the records of DTC of the availability of definitive certificates. Upon surrender by DTC of the global certificates representing the Offered Certificates and upon receipt of instructions from DTC for re-registration, the Paying Agent will reissue the Offered Certificates as definitive certificates issued in the respective Certificate Balances or Notional Amount, as applicable, owned by individual Certificate Owners, and thereafter the Trustee, the Paying Agent, the Special Servicer and the Master Servicers will recognize the holders of those definitive certificates as Certificateholders under the Pooling and Servicing Agreement.

For additional information regarding DTC and Certificates maintained on the book-entry records of DTC, see ‘‘Description of the Certificates—Book-Entry Registration and Definitive Certificates’’ in the prospectus.

Distributions

Method, Timing and Amount.    Distributions on the Certificates are required to be made by the Paying Agent, to the extent of available funds, on the 12th day of each month or, if the 12th day is not a business day, then on the next succeeding business day, commencing in July 2007 (each, a ‘‘Distribution Date’’). The ‘‘Determination Date’’ for any Distribution Date will be the fourth business day prior to the related Distribution Date. All distributions (other than the final distribution on any Certificate) are required to be made to the Certificateholders in whose names the Certificates are registered at the close of business on each Record Date. With respect to any Distribution Date, the ‘‘Record Date’’ will be the last business day of the month preceding the month in which that Distribution Date occurs. These distributions are required to be made by wire transfer in immediately available funds to the account specified by the Certificateholder at a bank or other entity having appropriate facilities therefor, if the Certificateholder has provided the Paying Agent with written wiring instructions no less than five business days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions) or otherwise by check mailed to the Certificateholder. The final distribution on any Certificate is required to be made in like manner, but only upon presentation and surrender of the Certificate at the location that will be specified in a notice of the pendency of the final distribution. All distributions made with respect to a Class of Certificates will be allocated pro rata among the outstanding Certificates of that Class based on their respective Percentage Interests.

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The amount allocated to the Class A-MFL or Class A-JFL Regular Interest due to the Swap Counterparty under the related Swap Contract with respect to each Distribution Date will be deposited into the related Floating Rate Account on the business day prior to the related Distribution Date. In addition, amounts payable to the trust by the Swap Counterparty under a Swap Contract with respect to the related Distribution Date will be deposited into the related Floating Rate Account. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ and ‘‘—The A-JFL Swap Contract’’ in this free writing prospectus.

Each Master Servicer is required to establish and maintain, or cause to be established and maintained, one or more accounts (collectively, the ‘‘Certificate Account’’) as described in the Pooling and Servicing Agreement. Each Master Servicer is required to deposit in the Certificate Account on a daily basis (and in no event later than the business day following receipt in available funds) all payments and collections due after the Cut-off Date and other amounts received or advanced with respect to the mortgage loans (including, without limitation, all proceeds received under any hazard, title or other insurance policy that provides coverage with respect to a Mortgaged Property or the related mortgage loan or in connection with the full or partial condemnation of a Mortgaged Property (the ‘‘Insurance and Condemnation Proceeds’’) and other amounts received and retained in connection with the liquidation of defaulted mortgage loans or property acquired by foreclosure or otherwise (the ‘‘Liquidation Proceeds’’)), and will be permitted to make withdrawals therefrom as set forth in the Pooling and Servicing Agreement. Notwithstanding the foregoing, the collections on the 599 Lexington Avenue Loan, the AmeriCold Portfolio Loan and the AB Mortgage Loans will be limited to the portion of such amounts that are payable to the holder of the mortgage loan included in the trust pursuant to the related intercreditor agreement.

The Paying Agent is required to establish and maintain accounts (the ‘‘Upper-Tier Distribution Account’’ and the ‘‘Lower-Tier Distribution Account’’, each of which may be sub-accounts of a single account (collectively, the ‘‘Distribution Account’’)), in the name of the Trustee and for the benefit of the Certificateholders. On each Distribution Date, the Paying Agent is required to apply amounts on deposit in the Upper-Tier Distribution Account (which will include all funds that were remitted by each Master Servicer from the Certificate Account plus, among other things, any P&I Advances less amounts, if any, distributable to the Class LR Certificates as set forth in the Pooling and Servicing Agreement) generally to make distributions of interest and principal from the Available Distribution Amount to the Certificateholders (other than the Holders of the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests as described in this free writing prospectus. Each of the Certificate Account and the Distribution Account will conform to certain eligibility requirements set forth in the Pooling and Servicing Agreement.

The Paying Agent is required to establish and maintain an ‘‘Interest Reserve Account,’’ which may be a sub-account of the Distribution Account, in the name of the Trustee for the benefit of the holders of the Certificates. On the Master Servicer Remittance Date occurring each February and on any Master Servicer Remittance Date occurring in any January which occurs in a year that is not a leap year (in each case, unless the related Distribution Date is the final Distribution Date), the Paying Agent will be required to deposit amounts remitted by each Master Servicer or P&I Advances made on the related mortgage loans into the Interest Reserve Account during the related interest period, in respect of the mortgage loans that accrue interest on an Actual/360 Basis (collectively, the ‘‘Withheld Loans’’), in an amount equal to one day’s interest at the Net Mortgage Rate for each Withheld Loan on its Stated Principal Balance as of the Distribution Date in the month preceding the month in which the related Master Servicer Remittance Date occurs, to the extent a Periodic Payment or P&I Advance is made in respect of the mortgage loans (all amounts so deposited in any consecutive January (if applicable) and February, ‘‘Withheld Amounts’’). On the Master Servicer Remittance Date occurring each March (or February, if the related Distribution Date is the final Distribution Date), the Paying Agent will be required to

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withdraw from the Interest Reserve Account an amount equal to the Withheld Amounts from the preceding January (if applicable) and February, if any, and deposit that amount into the Lower-Tier Distribution Account.

The Paying Agent is required to establish and maintain an account (the ‘‘Gain-on-Sale Reserve Account’’), which may be a sub-account of the Distribution Account, in the name of the Trustee on behalf of the Certificateholders. To the extent that gains realized on sales of Mortgaged Properties, if any, are not used to offset Collateral Support Deficits previously allocated to the Certificates, such gains will be held and applied to offset future Collateral Support Deficits, if any.

The Paying Agent is required to establish and maintain the ‘‘A-MFL Floating Rate Account’’ and the ‘‘A-JFL Floating Rate Account’’ (each, a ‘‘Floating Rate Account’’), each of which may be a sub-account of the Distribution Account, in the name of the Trustee for the benefit of the holders of the Class A-MFL and Class A-JFL Certificates, respectively. Promptly upon receipt of any payment or other receipt in respect of the Class A-MFL or Class A-JFL Regular Interest or the applicable Swap Contract, the Paying Agent will be required to deposit the same into the applicable Floating Rate Account. See ‘‘Description of the Swap Contracts’’ in this free writing prospectus.

Each Master Servicer is authorized but not required to direct the investment of funds held in the Certificate Account in U.S. government securities and other obligations that are acceptable to each of the Rating Agencies (‘‘Permitted Investments’’). Each Master Servicer will be entitled to retain any interest or other income earned on such funds and such Master Servicer will be required to bear any losses resulting from the investment of such funds, as provided in the Pooling and Servicing Agreement. The Paying Agent is authorized but not required to direct the investment of funds held in the Lower-Tier Distribution Account, the Upper-Tier Distribution Account, the Interest Reserve Account, the Floating Rate Accounts and the Gain-on-Sale Reserve Account in Permitted Investments. The Paying Agent will be entitled to retain any interest or other income earned on such funds and the Paying Agent will be required to bear any losses resulting from the investment of such funds, as provided in the Pooling and Servicing Agreement.

The aggregate amount available for distribution to Certificateholders (other than the holders of the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests (and thus to the holders of the Class A-MFL and Class A-JFL Certificates) on each Distribution Date (the ‘‘Available Distribution Amount’’) will, in general, equal the sum of the following amounts (without duplication):

(x)    the total amount of all cash received on the mortgage loans and any REO Properties that is on deposit in the Certificate Account, the Lower-Tier Distribution Account and, without duplication, the REO Account (and with respect to the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan, only to the extent received by the Paying Agent pursuant to the 2007-LDP10 Pooling and Servicing Agreement and the 2007-CIBC18 Pooling and Servicing Agreement, respectively, and/or the 599 Lexington Avenue Intercreditor Agreement and the AmeriCold Portfolio Intercreditor Agreement, respectively), as of the related Master Servicer Remittance Date, exclusive of (without duplication):

(1)    all scheduled payments of principal and/or interest (the ‘‘Periodic Payments’’) and balloon payments collected but due on a due date subsequent to the related Due Period, excluding interest relating to periods prior to, but due after, the Cut-off Date;

(2)    all unscheduled payments of principal (including prepayments), unscheduled interest, Liquidation Proceeds, Insurance and Condemnation Proceeds and other unscheduled recoveries received subsequent to the related Determination Date (or, with respect to voluntary prepayments of principal of each mortgage loan with a due date occurring after the related Determination Date, subsequent to the related due date);

(3)    all amounts in the Certificate Account that are due or reimbursable to any person other than the Certificateholders;

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(4)    with respect to each Withheld Loan and any Distribution Date occurring in each February and in any January occurring in a year that is not a leap year (unless such Distribution Date is the final Distribution Date), the related Withheld Amount to the extent those funds are on deposit in the Certificate Account;

(5)    all Yield Maintenance Charges;

(6)    all amounts deposited in the Certificate Account, the Lower-Tier Distribution Account and, without duplication, the REO Account in error; and

(7)    any accrued interest on a mortgage loan allocable to the default interest rate for such mortgage loan, to the extent permitted by law, as more particularly defined in the related mortgage loan documents, excluding any interest calculated at the Mortgage Rate for the related mortgage loan;

(y)    all P&I Advances made by each Master Servicer or the Trustee, as applicable, with respect to the Distribution Date (net of certain amounts that are due or reimbursable to persons other than the Certificateholders). See ‘‘Description of the Pooling Agreements— Certificate Account’’ in the prospectus; and

(z)    with respect to the Distribution Date occurring in each March (or February, if such Distribution Date is the final Distribution Date), the related Withheld Amounts required to be deposited in the Lower-Tier Distribution Account pursuant to the Pooling and Servicing Agreement.

The aggregate amount available for distributions to the holders of the Class A-MFL Certificates on each Distribution Date (the ‘‘Class A-MFL Available Funds’’) will equal the sum of (i) the total amount of all principal and/or interest distributions on or in respect of the Class A-MFL Regular Interest with respect to the Distribution Date and (ii) the amounts, if any, received from the Swap Counterparty pursuant to the A-MFL Swap Contract for the Distribution Date, less (iii) all amounts required to be paid to the Swap Counterparty pursuant to the A-MFL Swap Contract for the Distribution Date. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus.

The aggregate amount available for distributions to the holders of the Class A-JFL Certificates on each Distribution Date (the ‘‘Class A-JFL Available Funds’’) will equal the sum of (i) the total amount of all principal and/or interest distributions on or in respect of the Class A-JFL Regular Interest with respect to the Distribution Date and (ii) the amounts, if any, received from the Swap Counterparty pursuant to the A-JFL Swap Contract for the Distribution Date, less (iii) all amounts required to be paid to the Swap Counterparty pursuant to the A-JFL Swap Contract for the Distribution Date. See ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus.

The ‘‘Due Period’’ for each Distribution Date and any mortgage loan will be the period commencing on the day immediately following the Due Date for the mortgage loan in the month preceding the month in which that Distribution Date occurs or the date that would have been the Due Date if the mortgage loan had a Due Date in June 2007 and ending on and including the due date for the mortgage loan in the month in which that Distribution Date occurs.

Notwithstanding the foregoing, in the event that the last day of a Due Period (or applicable grace period) is not a business day, any Periodic Payments received with respect to the mortgage loans relating to the related Due Period on the business day immediately following that day will be deemed to have been received during that Due Period and not during any other Due Period.

Priority.    On each Distribution Date, for so long as the Certificate Balances or Notional Amount of the Certificates (other than the Class A-MFL and Class A-JFL Certificates) or the Certificate Balance of the Class A-MFL or Class A-JFL Regular Interest have not been reduced to zero, the Paying Agent is required to apply amounts on deposit in the Upper-Tier Distribution Account, to the extent of the Available Distribution Amount, in the following order of priority:

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First, to pay interest, concurrently: (i) on the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates, pro rata, from the portion of the Available Distribution Amount for such Distribution Date attributable to mortgage loans in Loan Group 1 up to an amount equal to the aggregate Interest Distribution Amount for those Classes; (ii) on the Class A-1A Certificates from the portion of the Available Distribution Amount for such Distribution Date attributable to mortgage loans in Loan Group 2 up to an amount equal to the aggregate Interest Distribution Amount for such Class; and (iii) on the Class X-1 and Class X-2 Certificates, pro rata, from the portion of the Available Distribution Amount for such Distribution Date up to an amount equal to the aggregate Interest Distribution Amount for such Class, without regard to Loan Group, in each case based upon their respective entitlements to interest for that Distribution Date; provided, however, on any Distribution Date where the Available Distribution Amount (or applicable portion of the Available Distribution Amount) is not sufficient to make distributions in full to the related Classes as described above, the Available Distribution Amount will be allocated among the above Classes without regard to Loan Group, pro rata, in accordance with the respective amounts of Distributable Certificate Interest in respect of such Classes on such Distribution Date, in an amount equal to all Interest Distribution Amounts in respect of each such Class for such Distribution Date;

Second, to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates, in reduction of the Certificate Balances of those Classes, concurrently: (i) (A) first, to the Class A-SB Certificates, in an amount equal to the Group 1 Principal Distribution Amount for such Distribution Date and, after the Certificate Balance of the Class A-1A Certificates has been reduced to zero, the Group 2 Principal Distribution Amount remaining after payments specified in clause (ii) below have been made on such Distribution Date, until the Certificate Balance of the Class A-SB Certificates is reduced to the Class A-SB Planned Principal Balance, (B) then, to the Class A-1 Certificates, in an amount equal to the Group 1 Principal Distribution Amount (or the portion of it remaining after payments specified in clause (i)(A) above have been made) for such Distribution Date and, after the Certificate Balance of the Class A-1A Certificates has been reduced to zero, the Group 2 Principal Distribution Amount remaining after payments specified in clause (i)(A) above and clause (ii) below have been made on such Distribution Date, until the Certificate Balance of the Class A-1 Certificates is reduced to zero, (C) then, to the Class A-2 Certificates, in an amount equal to the Group 1 Principal Distribution Amount (or the portion of it remaining after payments specified in clauses (i)(A) and (B) above have been made) for such Distribution Date and, after the Certificate Balance of the Class A-1A Certificates has been reduced to zero, the Group 2 Principal Distribution Amount remaining after payments specified in clauses (i)(A) and (B) above and clause (ii) below have been made on such Distribution Date, until the Certificate Balance of the Class A-2 Certificates is reduced to zero, (D) then, to the Class A-3 Certificates, in an amount equal to the Group 1 Principal Distribution Amount (or the portion of it remaining after payments specified in clauses (i)(A), (B) and (C) above have been made) for such Distribution Date and, after the Certificate Balance of the Class A-1A Certificates has been reduced to zero, the Group 2 Principal Distribution Amount remaining after payments specified in clauses (i)(A), (B) and (C) above and clause (ii) below have been made on such Distribution Date, until the Certificate Balance of the Class A-3 Certificates is reduced to zero, (E) then, to the Class A-4 Certificates, in an amount equal to the Group 1 Principal Distribution Amount (or the portion of it remaining after payments specified in clauses (i)(A), (B), (C) and (D) above have been made) for such Distribution Date and, after the Certificate Balance of the Class A-1A Certificates has been reduced to zero, the Group 2 Principal Distribution Amount remaining after payments specified in clauses (i)(A), (B), (C) and (D) above and clause (ii) below have been made on such Distribution Date, until the Certificate Balance of the Class A-4 Certificates is reduced to zero, and (F) then, to the Class A-SB Certificates, in an amount equal to the Group 1 Principal Distribution Amount (or the portion of it remaining after payments specified in clauses (i)(A), (B), (C), (D) and (E) above have been made) for such Distribution Date and, after the Certificate Balance of the Class A-1A Certificates has been reduced to zero, the Group 2 Principal Distribution Amount remaining after payments specified in clauses (i)(A), (B), (C), (D) and (E) above and clause (ii) below have been made on such Distribution Date, until the

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Certificate Balance of the Class A-SB Certificates is reduced to zero; and (ii) to the Class A-1A Certificates, in an amount equal to the Group 2 Principal Distribution Amount and, after the Certificate Balances of the Class A-4 and Class A-SB Certificates have been reduced to zero, the Group 1 Principal Distribution Amount remaining after payments specified in clauses (i)(A), (B), (C), (D), (E) and (F) above have been made on such Distribution Date, until the Class A-1A Certificates are reduced to zero;

Third, to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates, pro rata (based upon the aggregate unreimbursed Collateral Support Deficit allocated to each Class), until all amounts of Collateral Support Deficit previously allocated to those Classes, but not previously reimbursed, have been reimbursed in full;

Fourth, concurrently, to the Class A-M Certificates and the Class A-MFL Regular Interest, pro rata, in respect of interest, up to an amount equal to the Interest Distribution Amount for those Classes;

Fifth, following reduction of the Certificate Balances of the Class A Certificates to zero, to the Class A-M Certificates and the Class A-MFL Regular Interest, pro rata, in reduction of their Certificate Balances, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates on that Distribution Date), until the Certificate Balances of those Classes are reduced to zero;

Sixth, to the Class A-M Certificates and the Class A-MFL Regular Interest, pro rata, until all amounts of Collateral Support Deficit previously allocated to the Class A-M Certificates and the Class A-MFL Regular Interest, but not previously reimbursed, have been reimbursed in full;

Seventh, concurrently, to the Class A-J Certificates and the Class A-JFL Regular Interest, pro rata, in respect of interest, up to an amount equal to the Interest Distribution Amount for those Classes;

Eighth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates and Class A-MFL Regular Interest to zero, to the Class A-J Certificates and the Class A-JFL Regular Interest, pro rata, in reduction of their Certificate Balances, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates and Class A-MFL Regular Interest on that Distribution Date), until the Certificate Balances of those Classes are reduced to zero;

Ninth, to the Class A-J Certificates and the Class A-JFL Regular Interest, pro rata, until all amounts of Collateral Support Deficit previously allocated to the Class A-J Certificates and the Class A-JFL Regular Interest, pro rata, but not previously reimbursed, have been reimbursed in full;

Tenth, to the Class B Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Eleventh, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates and Class A-JFL Regular Interest to zero, to the Class B Certificates, in reduction of their Certificate Balances, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates and Class A-JFL Regular Interest on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Twelfth, to the Class B Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class B Certificates, but not previously reimbursed, have been reimbursed in full;

Thirteenth, to the Class C Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Fourteenth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular

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Interest and Class B Certificates to zero, to the Class C Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest and Class B Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Fifteenth, to the Class C Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class C Certificates, but not previously reimbursed, have been reimbursed in full;

Sixteenth, to the Class D Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Seventeenth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates and Class C Certificates to zero, to the Class D Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates and Class C Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Eighteenth, to the Class D Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class D Certificates, but not previously reimbursed, have been reimbursed in full;

Nineteenth, to the Class E Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Twentieth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates and Class D Certificates to zero, to the Class E Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates and Class D Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Twenty-first, to the Class E Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class E Certificates, but not previously reimbursed, have been reimbursed in full;

Twenty-second, to the Class F Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Twenty-third, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates and Class E Certificates to zero, to the Class F Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates and Class E Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Twenty-fourth, to the Class F Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class F Certificates, but not previously reimbursed, have been reimbursed in full;

Twenty-fifth, to the Class G Certificates, in respect of interest up to an amount equal to the Interest Distribution Amount for that Class;

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Twenty-sixth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates and Class F Certificates to zero, to the Class G Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates and Class F Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Twenty-seventh, to the Class G Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class G Certificates, but not previously reimbursed, have been reimbursed in full;

Twenty-eighth, to the Class H Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Twenty-ninth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates and Class G Certificates to zero, to the Class H Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates and Class G Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Thirtieth, to the Class H Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class H Certificates, but not previously reimbursed, have been reimbursed in full;

Thirty-first, to the Class J Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Thirty-second, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates and Class H Certificates to zero, to the Class J Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates and Class H Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Thirty-third, to the Class J Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class J Certificates, but not previously reimbursed, have been reimbursed in full;

Thirty-fourth, to the Class K Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Thirty-fifth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates and Class J Certificates to zero, to the Class K Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F

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Certificates, Class G Certificates, Class H Certificates and Class J Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Thirty-sixth, to the Class K Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class K Certificates, but not previously reimbursed, have been reimbursed in full;

Thirty-seventh, to the Class L Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Thirty-eighth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates and Class K Certificates to zero, to the Class L Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates and Class K Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Thirty-ninth, to the Class L Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class L Certificates, but not previously reimbursed, have been reimbursed in full;

Fortieth, to the Class M Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Forty-first, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates and Class L Certificates to zero, to the Class M Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates and Class L Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Forty-second, to the Class M Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class M Certificates, but not previously reimbursed, have been reimbursed in full;

Forty-third, to the Class N Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Forty-fourth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates, Class L Certificates and Class M Certificates to zero, to the Class N Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates, Class L Certificates and Class M Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

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Forty-fifth, to the Class N Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class N Certificates, but not previously reimbursed, have been reimbursed in full;

Forty-sixth, to the Class P Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Forty-seventh, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates, Class L Certificates, Class M Certificates and Class N Certificates to zero, to the Class P Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates, Class L Certificates, Class M Certificates and Class N Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Forty-eighth, to the Class P Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class P Certificates, but not previously reimbursed, have been reimbursed in full;

Forty-ninth, to the Class NR Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

Fiftieth, following reduction of the Certificate Balances of the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates, Class L Certificates, Class M Certificates, Class N Certificates and Class P Certificates to zero, to the Class NR Certificates, in reduction of their Certificate Balance, an amount equal to the Principal Distribution Amount (or the portion of it remaining after distributions on the Class A Certificates, Class A-M Certificates, Class A-MFL Regular Interest, Class A-J Certificates, Class A-JFL Regular Interest, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates, Class K Certificates, Class L Certificates, Class M Certificates, Class N Certificates and Class P Certificates on that Distribution Date), until the Certificate Balance of that Class is reduced to zero;

Fifty-first, to the Class NR Certificates, until all amounts of Collateral Support Deficit previously allocated to the Class NR Certificates, but not previously reimbursed, have been reimbursed in full; and

Fifty-second, to the Class R Certificates, the amount, if any, of the Available Distribution Amount remaining in the Upper-Tier Distribution Account, and to the Class LR Certificates, the amount remaining in the Lower-Tier Distribution Account with respect to that Distribution Date.

Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balances of the Class of Certificates or Class A-MFL or Class A-JFL Regular Interest in respect of which a reimbursement is made.

Notwithstanding the distribution priority second set forth above, on and after the Distribution Date on which the Certificate Balances of the Subordinate Certificates have all been reduced to zero as a result of the allocation of mortgage loan losses to those certificates (that date, the ‘‘Cross-Over Date’’), the Principal Distribution Amount will be distributed pursuant to priority second set forth above, pro rata (based upon their respective Certificate Balances), among the Classes of Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A

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Certificates, without regard to the priorities set forth above and without regard to Loan Groups or the Class A-SB Planned Principal Balance.

Distributions on the Class A-MFL Certificates.    On each Distribution Date, for so long as the Certificate Balance of the Class A-MFL Regular Interest (and, correspondingly, the Class A-MFL Certificates) has not been reduced to zero, the Paying Agent is required to apply amounts on deposit in the A-MFL Floating Rate Account to the extent of the Class A-MFL Available Funds, in the following order of priority:

First, to the Class A-MFL Certificates in respect of interest, up to an amount equal to the Class A-MFL Interest Distribution Amount;

Second, to the Class A-MFL Certificates in respect of principal, the Class A-MFL Principal Distribution Amount until the Certificate Balance of that Class is reduced to zero; and

Third, to the Class A-MFL Certificates until all amounts of Collateral Support Deficit previously allocated to the Class A-MFL Certificates, but not previously reimbursed, have been reimbursed in full. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus.

Distributions on the Class A-JFL Certificates.    On each Distribution Date, for so long as the Certificate Balance of the Class A-JFL Regular Interest (and, correspondingly, the Class A-JFL Certificates) has not been reduced to zero, the Paying Agent is required to apply amounts on deposit in the A-JFL Floating Rate Account to the extent of the Class A-JFL Available Funds, in the following order of priority:

First, to the Class A-JFL Certificates in respect of interest, up to an amount equal to the Class A-JFL Interest Distribution Amount;

Second, to the Class A-JFL Certificates in respect of principal, the Class A-JFL Principal Distribution Amount until the Certificate Balance of that Class is reduced to zero; and

Third, to the Class A-JFL Certificates until all amounts of Collateral Support Deficit previously allocated to the Class A-JFL Certificates, but not previously reimbursed, have been reimbursed in full. See ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus.

Pass-Through Rates.    The interest rate (the ‘‘Pass-Through Rate’’) applicable to each Class of Certificates (other than the Residual Certificates) or Regular Interest for any Distribution Date will equal the rates set forth below:

The Pass-Through Rate on the Class A-1 Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-2 Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-3 Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-4 Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-SB Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-1A Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-M Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-MFL Regular Interest is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-MFL Certificates is a per annum rate equal to LIBOR plus         %; provided, however, under certain circumstances described under ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus, the Pass-Through Rate on the Class A-MFL Certificates may be effectively reduced or may convert to a per annum rate equal to the Pass-Through Rate on the Class A-MFL Regular Interest.

The Pass-Through Rate on the Class A-J Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class A-JFL Regular Interest is a per annum rate equal to     %.

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The Pass-Through Rate on the Class A-JFL Certificates is a per annum rate equal to LIBOR plus         %; provided, however, under certain circumstances described under ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus, the Pass-Through Rate on the Class A-JFL Certificates may be effectively reduced or may convert to a per annum rate equal to the Pass-Through Rate on the Class A-JFL Regular Interest.

The Pass-Through Rate on the Class B Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class C Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class D Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class E Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class F Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class G Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class H Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class J Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class K Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class L Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class M Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class N Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class P Certificates is a per annum rate equal to         %.

The Pass-Through Rate on the Class NR Certificates is a per annum rate equal to         %.

The term ‘‘LIBOR’’ means, with respect to the Class A-MFL and Class A-JFL Certificates and each Interest Accrual Period, the rate for deposits in U.S. Dollars, for a period equal to one month, which appears on the Reuters Screen LIBOR01 Page, as of 11:00 a.m., London time, on the related LIBOR Determination Date. If such rate does not appear on the Reuters Screen LIBOR01 Page, the rate for that Interest Accrual Period will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by any four major banks in the London interbank market selected by the Paying Agent to provide such bank’s offered quotation of such rates at approximately 11:00 a.m., London time, on the related LIBOR Determination Date to prime banks in the London interbank market for a period of one month, commencing on the first day of such Interest Accrual Period and in an amount that is representative for a single such transaction in the relevant market at the relevant time. The Paying Agent will request the principal London office of each of those four banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that Interest Accrual Period will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that Interest Accrual Period will be the arithmetic mean of the rates quoted by major banks in New York City selected by the Paying Agent, at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date with respect to such Interest Accrual Period for loans in U.S. Dollars to leading European banks for a period equal to one month, commencing on the first day of such Interest Accrual Period and in an amount that is representative for a single such transaction in the relevant market at the relevant time. The Paying Agent will determine LIBOR for each Interest Accrual Period and the determination of LIBOR by the Paying Agent will be binding absent manifest error.

The ‘‘LIBOR Determination Date’’ for the Class A-MFL and Class A-JFL Certificates is (i) with respect to the initial Interest Accrual Period, the date that is two LIBOR Business Days prior to the Closing Date, and (ii) with respect to each Interest Accrual Period thereafter, the date that is two LIBOR Business Days prior to the beginning of the related Interest Accrual Period. A ‘‘LIBOR Business Day’’ is any day on which commercial banks are open for international business (including dealings in U.S. Dollar deposits) in London, England. ‘‘Reuters Screen LIBOR01 Page’’

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means the display page currently so designated on the Reuters service (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices).

The Pass-Through Rates applicable to the Class X-1 and Class X-2 Certificates for the initial Distribution Date will equal approximately       % and       % per annum, respectively.

The Pass-Through Rate for the Class X-1 Certificates for each Distribution Date will equal the weighted average of the respective Class X-1 Strip Rates, at which interest accrues from time to time on the respective components (the ‘‘Class X-1 Components’’) of the Class X-1 Certificates outstanding immediately prior to such Distribution Date (weighted on the basis of the respective balances of those Class X-1 Components immediately prior to the Distribution Date). Each Class X-1 Component will be comprised of all or a designated portion of the Certificate Balance of one of the Classes of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests. In general, the Certificate Balance of each Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests will constitute a separate Class X-1 Component. However, if a portion, but not all, of the Certificate Balance of any particular Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest is identified under ‘‘—General’’ above as being part of the Notional Amount of the Class X-2 Certificates immediately prior to any Distribution Date, then the identified portion of the Certificate Balance will also represent one or more separate Class X-1 Components for purposes of calculating the Pass-Through Rate of the Class X-1 Certificates, and the remaining portion of the Certificate Balance will represent one or more separate Class X-1 Components for purposes of calculating the Pass-Through Rate of the Class X-1 Certificates. For each Distribution Date through and including the Distribution Date in June 2014, the ‘‘Class X-1 Strip Rate’’ for each Class X-1 Component will be calculated as follows:

(a)    if such Class X-1 Component consists of the entire Certificate Balance of any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest, and if the Certificate Balance also constitutes, in its entirety, a Class X-2 Component immediately prior to the Distribution Date, then the applicable Class X-1 Strip Rate will equal the excess, if any, of (a) the WAC Rate for the Distribution Date, over (b)(x) with respect to the Class      and Class      Certificates, the sum of (i) the Class X-2 Strip Rate for the applicable Class X-2 Component and (ii) the Pass-Through Rate in effect for the Distribution Date for the applicable Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests and (y) for each other Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests, the greater of (i) the reference rate specified on Schedule I for such Distribution Date and (ii) the Pass-Through Rate in effect for the Distribution Date for the applicable Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests;

(b)    if such Class X-1 Component consists of a designated portion (but not all) of the Certificate Balance of any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest, and if the designated portion of the Certificate Balance also constitutes a Class X-2 Component immediately prior to the Distribution Date, then the applicable Class X-1 Strip Rate will equal the excess, if any, of (a) the WAC Rate for the Distribution Date, over (b)(x) with respect to the Class      and Class      Certificates, the sum of (i) the Class X-2 Strip Rate for the applicable Class X-2 Component and (ii) the Pass-Through Rate in effect for the Distribution Date for the applicable Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest and (y) for each other Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests, the greater of (i) the reference rate specified on Schedule I for such Distribution Date and (ii) the Pass-Through Rate in effect for the Distribution Date for the applicable Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest;

(c)    if such Class X-1 Component consists of the entire Certificate Balance of any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest, and if the Certificate Balance does not, in whole or in part, also constitute a Class X-2 Component

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immediately prior to the Distribution Date, then the applicable Class X-1 Strip Rate will equal the excess, if any, of (a) the WAC Rate for the Distribution Date, over (b) the Pass-Through Rate in effect for the Distribution Date for the applicable Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest; and

(d)    if such Class X-1 Component consists of a designated portion (but not all) of the Certificate Balance of any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest, and if the designated portion of the Certificate Balance does not also constitute a Class X-2 Component immediately prior to the Distribution Date, then the applicable Class X-1 Strip Rate will equal the excess, if any, of (a) the WAC Rate for the Distribution Date, over (b) the Pass-Through Rate in effect for the Distribution Date for the applicable Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest.

For each Distribution Date after the Distribution Date in June 2014, the Certificate Balance of each Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests will constitute one or more separate Class X-1 Components, and the applicable Class X-1 Strip Rate with respect to each such Class X-1 Component for each Distribution Date will equal the excess, if any, of (a) the WAC Rate for the Distribution Date, over (b) the Pass-Through Rate in effect for the Distribution Date for the Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests whose Certificate Balance makes up the applicable Class X-1 Component.

The Pass-Through Rate for the Class X-2 Certificates, for each Distribution Date through and including the Distribution Date in June 2014, will equal the weighted average of the respective Class X-2 Strip Rates, at which interest accrues from time to time on the respective components (each, a ‘‘Class X-2 Component’’) of the Class X-2 Certificates outstanding immediately prior to the Distribution Date (weighted on the basis of the balances of the applicable Class X-2 Components immediately prior to the Distribution Date). Each Class X-2 Component will be comprised of all or a designated portion of the Certificate Balance of a specified Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest. If all or a designated portion of the Certificate Balance of any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest is identified on Schedule II of this free writing prospectus as being part of the Notional Amount of the Class X-2 Certificates immediately prior to any Distribution Date, then that Certificate Balance (or designated portion of that Certificate Balance) will represent one or more separate Class X-2 Components for purposes of calculating the Pass-Through Rate of the Class X-2 Certificates. For each Distribution Date through and including the Distribution Date in June 2014, the ‘‘Class X-2 Strip Rate’’ for each Class X-2 Component will equal:

(x)    with respect to the Class      and Class      Certificates, the lesser of:

(a)    the Class X-2 Fixed Strip Rate (as set forth in the table below), and

(b)    the WAC Rate for such Distribution Date less the Pass-Through Rate in effect on such Distribution Date for the Class of Principal Balance Certificates whose Certificate Balance, or a designated portion of that Certificate Balance, comprises such Class X-2 Component, and

(y)    with respect to each other Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests, the excess, if any, of:

(a)    the lesser of (a) the reference rate specified on Schedule I for such Distribution Date and (b)    the WAC Rate for such Distribution Date, over

(b)    the Pass-Through Rate in effect on such Distribution Date for the Class of Principal Balance Certificates and the Class A-MFL and Class A-JFL Regular Interests whose Certificate Balance, or a designated portion of that Certificate Balance, comprises such Class X-2 Component.

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After the Distribution Date in June 2014, the Class X-2 Certificates will cease to accrue interest and will have a 0% Pass-Through Rate.

Class X-2 Component Relating to the Following Principal Balance Certificates			Class X-2 Fixed Strip Rate
Class						%
Class						%

The Pass-Through Rate on each Class of Offered Certificates for the first Distribution Date is expected to be as set forth on page S-9 of this free writing prospectus. The Pass-Through Rate on the Class A-MFL Regular Interest for the first Distribution Date is expected to be a per annum rate equal to         %. The Pass-Through Rate on the Class A-JFL Regular Interest for the first Distribution Date is expected to be a per annum rate equal to         %.

The ‘‘WAC Rate’’ with respect to any Distribution Date is equal to the weighted average of the applicable Net Mortgage Rates for the mortgage loans weighted on the basis of their respective Stated Principal Balances as of the Closing Date, in the case of the first Distribution Date, or, for all other Distribution Dates, the preceding Distribution Date.

The ‘‘Net Mortgage Rate’’ for each mortgage loan is equal to the related Mortgage Rate in effect from time to time, less the related Administrative Cost Rate; provided, however, that for purposes of calculating Pass-Through Rates, the Net Mortgage Rate for any mortgage loan will be determined without regard to any modification, waiver or amendment of the terms of the mortgage loan, whether agreed to by a Master Servicer, the Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the related borrower. Notwithstanding the foregoing, for mortgage loans that do not accrue interest on a 30/360 Basis, then, solely for purposes of calculating the Pass-Through Rate on the Certificates, the Net Mortgage Rate of the mortgage loan for any one-month period preceding a related due date will be the annualized rate at which interest would have to accrue in respect of the mortgage loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount of interest actually required to be paid in respect of the mortgage loan during the one-month period at the related Net Mortgage Rate; provided, however, that with respect to each Withheld Loan, the Net Mortgage Rate for the one-month period (1) prior to the due dates in January and February in any year which is not a leap year or in February in any year which is a leap year (in either case, unless the related Distribution Date is the final Distribution Date) will be determined exclusive of the Withheld Amounts, and (2) prior to the due date in March (or February, if the related Distribution Date is the final Distribution Date), will be determined inclusive of the Withheld Amounts for the immediately preceding February and January, as applicable.

‘‘Administrative Cost Rate’’ as of any date of determination and with respect to any mortgage loan will be equal to the sum of the Servicing Fee Rate and the Trustee Fee Rate.

‘‘Mortgage Rate’’ with respect to any mortgage loan is the per annum rate at which interest accrues on the mortgage loan as stated in the related Mortgage Note in each case without giving effect to any default rate or an increased interest rate.

Interest Distribution Amount.    Interest will accrue for each Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests during the related Interest Accrual Period. The ‘‘Interest Distribution Amount’’ of any Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests for any Distribution Date is an amount equal to the sum of all Distributable Certificate Interest in respect of that Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest for that Distribution Date and, to the extent not previously paid, for all prior Distribution Dates and any Accrued Interest from Recoveries for such Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest, to the extent not previously paid, for all prior Distribution Dates.

The ‘‘Class A-MFL Interest Distribution Amount’’ will be, with respect to any Distribution Date, the sum of (a) interest accrued during the related Interest Accrual Period at the applicable

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Pass-Through Rate for the Class A-MFL Certificates on the Certificate Balance of such Class and (b) to the extent not previously paid, amounts of interest distributable on the Class A-MFL Certificates for all previous Distribution Dates. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus.

The ‘‘Class A-JFL Interest Distribution Amount’’ will be, with respect to any Distribution Date, the sum of (a) interest accrued during the related Interest Accrual Period at the applicable Pass-Through Rate for the Class A-JFL Certificates on the Certificate Balance of such Class and (b) to the extent not previously paid, amounts of interest distributable on the Class A-JFL Certificates for all previous Distribution Dates. See ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus.

‘‘Accrued Interest from Recoveries’’ in respect of each Distribution Date and any Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) or the Class A-MFL or Class A-JFL Regular Interest that had an increase to its Certificate Balance as a result of a recovery of Nonrecoverable Advances, an amount equal to interest at the Pass-Through Rate applicable to that Class on the amount of such increase to its Certificate Balance accrued from the Distribution Date on which the related Collateral Support Deficit was allocated to such Class as a result of the reimbursement of Nonrecoverable Advances from the trust to, but not including, the Distribution Date on which the Certificate Balance was so increased.

The ‘‘Interest Accrual Period’’ in respect of each Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests for each Distribution Date will be the calendar month prior to the month in which that Distribution Date occurs and will be calculated on a 30/360 Basis. With respect to the Class A-MFL and Class A-JFL Certificates, the Interest Accrual Period will be the period from and including the Distribution Date in the month preceding the month in which the related Distribution Date occurs (or, in the case of the first Distribution Date, the Closing Date) to, but excluding, the related Distribution Date and will be calculated on an Actual/360 Basis; provided, however, if the Pass-Through Rate for the Class A-MFL or Class A-JFL Certificates converts to a fixed rate, the Interest Accrual Period for that Class will be the calendar month prior to the month in which that Distribution Date occurs and will be calculated on a 30/360 Basis. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ and ‘‘—The A-JFL Swap Contract’’ in this free writing prospectus.

The ‘‘Distributable Certificate Interest’’ in respect of each Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests for each Distribution Date is equal to one month’s interest at the Pass-Through Rate applicable to that Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest on that Distribution Date accrued for the related Interest Accrual Period on the related Certificate Balance or Notional Amount, as the case may be, outstanding immediately prior to that Distribution Date, reduced (other than in the case of the Class X Certificates) (to not less than zero) by such Class of Certificates’ or the Class A-MFL or Class A-JFL Regular Interest’s allocable share (calculated as described below) of the aggregate of any Prepayment Interest Shortfalls resulting from any principal prepayments made on the mortgage loans during the related Due Period that are not covered by a Master Servicer’s Compensating Interest Payment for the related Distribution Date (the aggregate of the Prepayment Interest Shortfalls that are not so covered, as to the related Distribution Date, the ‘‘Net Aggregate Prepayment Interest Shortfall’’).

The portion of the Net Aggregate Prepayment Interest Shortfall for any Distribution Date that is allocable to each Class of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests will equal the product of (a) the Net Aggregate Prepayment Interest Shortfall, multiplied by (b) a fraction, the numerator of which is equal to the Interest Distribution Amount in respect of that Class of Certificates for the related Distribution Date, and the denominator of

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which is equal to the aggregate Interest Distribution Amount in respect of all Classes of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests for the related Distribution Date.

Principal Distribution Amount.    So long as (i) the Class A-4 or the Class A-SB Certificates and (ii) the Class A-1A Certificates remain outstanding, the Principal Distribution Amount for each Distribution Date as it relates to distributions to the Class A Certificates will be calculated on a Loan Group-by-Loan Group basis. On each Distribution Date after the Certificate Balance of either (i) each of the Class A-4 and the Class A-SB Certificates or (ii) the Class A-1A Certificates has been reduced to zero, a single Principal Distribution Amount will be calculated in the aggregate for both Loan Groups. The ‘‘Principal Distribution Amount’’ for any Distribution Date is an amount equal to the sum of (a) the Principal Shortfall for that Distribution Date, (b) the Scheduled Principal Distribution Amount for that Distribution Date and (c) the Unscheduled Principal Distribution Amount for that Distribution Date; provided, that the Principal Distribution Amount for any Distribution Date will be reduced by the amount of any reimbursements of (i) Nonrecoverable Advances, with interest on such Nonrecoverable Advances that are paid or reimbursed from principal collections on the mortgage loans in a period during which such principal collections would have otherwise been included in the Principal Distribution Amount for such Distribution Date and (ii) Workout-Delayed Reimbursement Amounts paid or reimbursed from principal collections on the mortgage loans in a period during which such principal collections would have otherwise been included in the Principal Distribution Amount for such Distribution Date (provided that, in the case of clause (i) and (ii) above, if any of the amounts that were reimbursed from principal collections on the mortgage loans are subsequently recovered on the related mortgage loan, such recovery will increase the Principal Distribution Amount for the Distribution Date related to the period in which such recovery occurs).

The ‘‘Group 1 Principal Distribution Amount’’ for any Distribution Date is an amount equal to the sum of (a) the Group 1 Principal Shortfall for that Distribution Date, (b) the Scheduled Principal Distribution Amount for Loan Group 1 for that Distribution Date and (c) the Unscheduled Principal Distribution Amount for Loan Group 1 for that Distribution Date; provided, that the Group 1 Principal Distribution Amount for any Distribution Date will be reduced by the amount of any reimbursements of (i) Nonrecoverable Advances, plus interest on such Nonrecoverable Advances, that are paid or reimbursed from principal collections on the mortgage loans in Loan Group 1 in a period during which such principal collections would have otherwise been included in the Group 1 Principal Distribution Amount for that Distribution Date, (ii) Workout-Delayed Reimbursement Amounts that are paid or reimbursed from principal collections on the mortgage loans in Loan Group 1 in a period during which such principal collections would have otherwise been included in the Group 1 Principal Distribution Amount for that Distribution Date and (iii) following the reimbursements described in clauses (i) and (ii), the excess, if any of (A) the total amount of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts, plus interest on such Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts, that would have been paid or reimbursed from principal collections on the mortgage loans in Loan Group 2 as described in clauses (i) and (ii) of the definition of ‘‘Group 2 Principal Distribution Amount’’ had the aggregate amount available for distribution of principal with respect to Loan Group 2 been sufficient to make such reimbursements in full, over (B) the aggregate amount available for distribution of principal with respect to Loan Group 2 for that Distribution Date (provided, further, (I) that in the case of clauses (i) and (ii) above, if any of such amounts reimbursed from principal collections on the mortgage loans in Loan Group 1 are subsequently recovered on the related mortgage loan, subject to the application of any recovery to increase the Group 2 Principal Distribution Amount as required under clause (II) of the definition of ‘‘Group 2 Principal Distribution Amount,’’ such recovery will be applied to increase the Group 1 Principal Distribution Amount for the Distribution Date related to the period in which such recovery occurs; and (II) that in the case of clause (iii) above, if any of such amounts reimbursed from principal collections on the mortgage loans in Loan Group 2 are subsequently

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recovered on the related mortgage loan, such recovery will first be applied to increase the Group 1 Principal Distribution Amount up to such amounts and then to increase the Group 2 Principal Distribution Amount).

The ‘‘Group 2 Principal Distribution Amount’’ for any Distribution Date is an amount equal to the sum of (a) the Group 2 Principal Shortfall for that Distribution Date, (b) the Scheduled Principal Distribution Amount for Loan Group 2 for that Distribution Date and (c) the Unscheduled Principal Distribution Amount for Loan Group 2 for that Distribution Date; provided, that the Group 2 Principal Distribution Amount for any Distribution Date will be reduced by the amount of any reimbursements of (i) Nonrecoverable Advances, plus interest on such Nonrecoverable Advances, that are paid or reimbursed from principal collections on the mortgage loans in Loan Group 2 in a period during which such principal collections would have otherwise been included in the Group 2 Principal Distribution Amount for that Distribution Date, (ii) Workout-Delayed Reimbursement Amounts that are paid or reimbursed from principal collections on the mortgage loans in Loan Group 2 in a period during which such principal collections would have otherwise been included in the Group 2 Principal Distribution Amount for that Distribution Date and (iii) following the reimbursements described in clauses (i) and (ii), the excess, if any of (A) the total amount of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts, plus interest on such Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts, that would have been paid or reimbursed from principal collections on the mortgage loans in Loan Group 1 as described in clauses (i) and (ii) of the definition of ‘‘Group 1 Principal Distribution Amount’’ had the aggregate amount available for distribution of principal with respect to Loan Group 1 been sufficient to make such reimbursements in full, over (B) the aggregate amount available for distribution of principal with respect to Loan Group 1 for that Distribution Date (provided, further, (I) that in the case of clauses (i) and (ii) above, if any of such amounts reimbursed from principal collections on the mortgage loans in Loan Group 2 are subsequently recovered on the related mortgage loan, subject to the application of any recovery to increase the Group 1 Principal Distribution Amount as required under clause (II) of the definition of ‘‘Group 1 Principal Distribution Amount,’’ such recovery will be applied to increase the Group 2 Principal Distribution Amount for the Distribution Date related to the period in which such recovery occurs; and (II) that in the case of clause (iii) above, if any of such amounts reimbursed from principal collections on the mortgage loans in Loan Group 1 are subsequently recovered on the related mortgage loan, such recovery will first be applied to increase the Group 2 Principal Distribution Amount up to such amounts and then to increase the Group 1 Principal Distribution Amount).

The ‘‘Scheduled Principal Distribution Amount’’ for each Distribution Date will equal the aggregate of the principal portions of (a) all Periodic Payments (excluding balloon payments) due during or, if and to the extent not previously received or advanced and distributed to Certificateholders on a preceding Distribution Date, prior to the related Due Period and all Assumed Scheduled Payments for the related Due Period, in each case to the extent paid by the related borrower as of the related Determination Date (or, with respect to each mortgage loan with a due date occurring, or a grace period ending, after the related Determination Date, the related due date or, last day of such grace period, as applicable, to the extent received by a Master Servicer as of the business day preceding the related Master Servicer Remittance Date) or advanced by a Master Servicer or the Trustee, as applicable, and (b) all balloon payments to the extent received on or prior to the related Determination Date (or, with respect to each mortgage loan with a due date occurring, or a grace period ending, after the related Determination Date, the related due date or, last day of such grace period, as applicable, to the extent received by a Master Servicer as of the business day preceding the related Master Servicer Remittance Date), and to the extent not included in clause (a) above. The Scheduled Principal Distribution Amount from time to time will include all late payments of principal made by a borrower, including late payments in respect of a delinquent balloon payment, regardless of the timing of those late payments, except to the extent those late payments are otherwise reimbursable to a Master Servicer or the Trustee, as the case may be, for prior Advances.

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The ‘‘Unscheduled Principal Distribution Amount’’ for each Distribution Date will equal the aggregate of: (a) all prepayments of principal received on the mortgage loans as of the business day preceding the related Master Servicer Remittance Date; and (b) any other collections (exclusive of payments by borrowers) received on the mortgage loans and any REO Properties on or prior to the related Determination Date whether in the form of Liquidation Proceeds, Insurance and Condemnation Proceeds, net income, rents, and profits from REO Property or otherwise, that were identified and applied by a Master Servicer as recoveries of previously unadvanced principal of the related mortgage loan; provided, that all such Liquidation Proceeds and Insurance and Condemnation Proceeds shall be reduced by any unpaid Special Servicing Fees, Liquidation Fees, accrued interest on Advances and other additional trust fund expenses incurred in connection with the related mortgage loan, thus reducing the Unscheduled Principal Distribution Amount.

The ‘‘Assumed Scheduled Payment’’ for any Due Period and with respect to any mortgage loan that is delinquent in respect of its balloon payment (including any REO Loan as to which the balloon payment would have been past due), is an amount equal to the sum of (a) the principal portion of the Periodic Payment that would have been due on that mortgage loan on the related due date based on the constant payment required by the related Mortgage Note or the original amortization schedule of the mortgage loan (as calculated with interest at the related Mortgage Rate), if applicable, assuming the related balloon payment has not become due, after giving effect to any reduction in the principal balance occurring in connection with a default or a bankruptcy modification, and (b) interest on the Stated Principal Balance of that mortgage loan at its Mortgage Rate (net of the applicable rate at which the Servicing Fee is calculated).

For purposes of the foregoing definition of Principal Distribution Amount, the term ‘‘Principal Shortfall’’ for any Distribution Date means the amount, if any, by which (1) the Principal Distribution Amount for the prior Distribution Date exceeds (2) the aggregate amount distributed in respect of principal on the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates and the Class A-MFL and Class A-JFL Regular Interests on the preceding Distribution Date. There will be no Principal Shortfall on the first Distribution Date.

For purposes of the foregoing definition of Group 1 Principal Distribution Amount, the term ‘‘Group 1 Principal Shortfall’’ for any Distribution Date means the amount, if any, by which (1) the lesser of (a) the Group 1 Principal Distribution Amount for the prior Distribution Date and (b) the Certificate Balance of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates exceeds (2) the aggregate amount distributed in respect of principal on the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates on the preceding Distribution Date. There will be no Group 1 Principal Shortfall on the first Distribution Date.

For purposes of the foregoing definition of Group 2 Principal Distribution Amount, the term ‘‘Group 2 Principal Shortfall’’ for any Distribution Date means the amount, if any, by which (1) the lesser of (a) the Group 2 Principal Distribution Amount for the prior Distribution Date and (b) the Certificate Balance of the Class A-1A Certificates, exceeds (2) the aggregate amount distributed in respect of principal on the Class A-1A Certificates on the preceding Distribution Date. There will be no Group 2 Principal Shortfall on the first Distribution Date.

The ‘‘Class A-SB Planned Principal Balance’’ for any Distribution Date is the balance shown for such Distribution Date in the table set forth in Schedule III to this free writing prospectus. Such balances were calculated using, among other things, certain weighted average life assumptions. See ‘‘Yield and Maturity Considerations—Weighted Average Life’’ in this free writing prospectus. Based on such assumptions, the Certificate Balance of the Class A-SB Certificates on each Distribution Date would be expected to be reduced to the balance indicated for such Distribution Date in the table set forth in Schedule III to this free writing prospectus. There is no assurance, however, that the mortgage loans will perform in conformity with our assumptions. Therefore, there can be no assurance that the balance of the Class A-SB Certificates on any Distribution Date

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will be equal to the balance that is specified for such Distribution Date in the table. In particular, once the Certificate Balances of the Class A-1A, Class A-1, Class A-2, Class A-3 and Class A-4 Certificates have been reduced to zero, any portion of the Group 2 Principal Distribution Amount and/or Group 1 Principal Distribution Amount, as applicable, remaining on any Distribution Date, will be distributed on the Class A-SB Certificates until the Certificate Balance of the Class A-SB Certificates is reduced to zero.

With respect to any Distribution Date, the ‘‘Class A-MFL Principal Distribution Amount’’ will be an amount equal to the amount of principal allocated in respect of the Class A-MFL Regular Interest on that Distribution Date. See ‘‘Description of the Certificates—Distributions—Priority’’ and ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus.

With respect to any Distribution Date, the ‘‘Class A-JFL Principal Distribution Amount’’ will be an amount equal to the amount of principal allocated in respect of the Class A-JFL Regular Interest on that Distribution Date. See ‘‘Description of the Certificates—Distributions—Priority’’ and ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus.

Certain Calculations with Respect to Individual Mortgage Loans.    The Stated Principal Balance of each mortgage loan outstanding at any time represents the principal balance of the mortgage loan ultimately due and payable to the Certificateholders. The ‘‘Stated Principal Balance’’ of each mortgage loan will initially equal its Cut-off Date Balance and, on each Distribution Date, will be reduced by the amount of principal payments received from the related borrower or advanced for such Distribution Date. The Stated Principal Balance of a mortgage loan may also be reduced in connection with any forced reduction of its actual unpaid principal balance imposed by a court presiding over a bankruptcy proceeding in which the related borrower is the debtor. See ‘‘Certain Legal Aspects of Mortgage Loans—Bankruptcy Laws’’ in the prospectus. If any mortgage loan is paid in full or the mortgage loan (or any Mortgaged Property acquired in respect of the mortgage loan) is otherwise liquidated, then, as of the first Distribution Date that follows the end of the Due Period in which that payment in full or liquidation occurred and notwithstanding that a loss may have occurred in connection with any liquidation, the Stated Principal Balance of the mortgage loan will be zero.

For purposes of calculating distributions on, and allocations of, Collateral Support Deficit to the Certificates and the Class A-MFL and Class A-JFL Regular Interests, as well as for purposes of calculating the Servicing Fee and Trustee Fee payable each month, each REO Property will be treated as if there exists with respect to such REO Property an outstanding mortgage loan (including any REO Property with respect to the 599 Lexington Avenue Whole Loan held pursuant to the 2007-LDP10 Pooling and Servicing Agreement and the AmeriCold Portfolio Whole Loan held pursuant to 2007-CIBC18 Pooling and Servicing Agreement) (an ‘‘REO Loan’’), and all references to mortgage loan, mortgage loans and pool of mortgage loans in this free writing prospectus and in the prospectus, when used in that context, will be deemed to also be references to or to also include, as the case may be, any REO Loans. Each REO Loan will generally be deemed to have the same characteristics as its actual predecessor mortgage loan, including the same fixed Mortgage Rate (and, accordingly, the same Net Mortgage Rate) and the same unpaid principal balance and Stated Principal Balance. Amounts due on the predecessor mortgage loan, including any portion of it payable or reimbursable to a Master Servicer or the Special Servicer, will continue to be ‘‘due’’ in respect of the REO Loan; and amounts received in respect of the related REO Property, net of payments to be made, or reimbursement to a Master Servicer or the Special Servicer for payments previously advanced, in connection with the operation and management of that property, generally will be applied by a Master Servicer as if received on the predecessor mortgage loan.

Allocation of Yield Maintenance Charges and Prepayment Premiums

On any Distribution Date, Yield Maintenance Charges, if any, collected in respect of the mortgage loans during the related Due Period will be required to be distributed by the Paying

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Agent to the holders of each Class of Offered Certificates (excluding the Class A-MFL, Class A-JFL, Class X-1 and Class X-2 Certificates) and the Class A-MFL and Class A-JFL Regular Interests and the Class E, Class F, Class G and Class H Certificates in the following manner: the holders of each Class of Offered Certificates (excluding the Class A-MFL, Class A-JFL, Class X-1 and Class X-2 Certificates) and the Class A-MFL and Class A-JFL Regular Interests and the Class E, Class F, Class G and Class H Certificates will be entitled to receive, with respect to the related Loan Group, as applicable, on each Distribution Date an amount of Yield Maintenance Charges equal to the product of (a) a fraction whose numerator is the amount of principal distributed to such Class on such Distribution Date and whose denominator is the total amount of principal distributed to all of the Certificates representing principal payments in respect of mortgage loans in Loan Group 1 or Loan Group 2, as applicable, on such Distribution Date, (b) the Base Interest Fraction for the related principal prepayment and such Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest, as applicable, and (c) the Yield Maintenance Charges collected on such principal prepayment during the related Due Period. If there is more than one such Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest, as applicable, entitled to distributions of principal with respect to the related Loan Group, as applicable, on any particular Distribution Date on which Yield Maintenance Charges are distributable, the aggregate amount of such Yield Maintenance Charges will be allocated among all such Classes of Certificates and/or the Class A-MFL and Class A-JFL Regular Interests up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph. Any Yield Maintenance Charges collected during the related Due Period remaining after such distributions will be distributed to (i) the holders of the Class X-1 and Class X-2 Certificates in an amount equal to 75% and 25% of such remaining Yield Maintenance Charges, respectively, until and including the Distribution Date in June 2012 and (ii) the holders of the Class X-1 Certificates in an amount equal to 100% of such remaining Yield Maintenance Charges after the Distribution Date in June 2012.

On any Distribution Date, for so long as the A-MFL Swap Contract is in effect, Yield Maintenance Charges distributable in respect of the Class A-MFL Regular Interest will be payable to the Swap Counterparty and on any Distribution Date on which the A-MFL Swap Contract is not in effect, Yield Maintenance Charges distributable in respect of the Class A-MFL Regular Interest will be distributable to the holders of the Class A-MFL Certificates. See ‘‘Description of the Swap Contracts—The A-MFL Swap Contract’’ in this free writing prospectus.

On any Distribution Date, for so long as the A-JFL Swap Contract is in effect, Yield Maintenance Charges distributable in respect of the Class A-JFL Regular Interest will be payable to the Swap Counterparty and on any Distribution Date on which the A-JFL Swap Contract is not in effect, Yield Maintenance Charges distributable in respect of the Class A-JFL Regular Interest will be distributable to the holders of the Class A-JFL Certificates. See ‘‘Description of the Swap Contracts—The A-JFL Swap Contract’’ in this free writing prospectus.

The ‘‘Base Interest Fraction’’ with respect to any principal prepayment on any mortgage loan and with respect to any Class of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G and Class H Certificates and the Class A-MFL and Class A-JFL Regular Interests is a fraction (A) whose numerator is the greater of (x) zero and (y) the difference between (i) the Pass-Through Rate on such Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest, as applicable, and (ii) the Discount Rate used in calculating the Yield Maintenance Charge with respect to such principal prepayment and (B) whose denominator is the difference between (i) the Mortgage Rate on the related mortgage loan and (ii) the Discount Rate used in calculating the Yield Maintenance Charge with respect to such principal prepayment; provided, however, that under no circumstances will the Base Interest Fraction be greater than one. If such Discount Rate is greater than the Mortgage Rate on the related mortgage loan, then the Base Interest Fraction will equal zero.

Notwithstanding the foregoing, any prepayment premiums collected that are calculated under the related mortgage loan documents as a specified percentage of the amount being prepaid will be distributed to the Class X-1 Certificates entirely.

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For a description of Yield Maintenance Charges, see ‘‘Description of the Mortgage Pool— Certain Terms and Conditions of the Mortgage Loans—Prepayment Provisions’’ in this free writing prospectus. See also ‘‘Risk Factors—Risks Relating to Enforceability of Yield Maintenance Charges, Prepayment Premiums or Defeasance Provisions’’ and ‘‘Certain Legal Aspects of Mortgage Loans—Default Interest and Limitations on Prepayments’’ in the prospectus regarding the enforceability of Yield Maintenance Charges.

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Assumed Final Distribution Date; Rated Final Distribution Date

The ‘‘Assumed Final Distribution Date’’ with respect to any Class of Offered Certificates is the Distribution Date on which the aggregate Certificate Balance of that Class of Certificates would be reduced to zero based on the assumptions set forth below. The Assumed Final Distribution Date will in each case be as follows:

Class Designation			Assumed Final Distribution Date
Class A-1			January 12, 2012
Class A-2			June 12, 2012
Class A-3			February 12, 2017
Class A-4			April 12, 2017
Class A-SB			October 12 2016
Class A-1A			May 12, 2017
Class X-1			March 12, 2017
Class X-2			June 12, 2014
Class A-M			May 12, 2017
Class A-MFL			May 12, 2017
Class A-J			May 12, 2017
Class A-JFL			May 12, 2017
Class B			June 12, 2017
Class C			June 12, 2017
Class D			June 12, 2017

The Assumed Final Distribution Dates set forth above were calculated without regard to any delays in the collection of balloon payments and without regard to a reasonable liquidation time with respect to any mortgage loans that may become delinquent. Accordingly, in the event of defaults on the mortgage loans, the actual final Distribution Date for one or more Classes of the Offered Certificates may be later, and could be substantially later, than the related Assumed Final Distribution Date(s).

In addition, the Assumed Final Distribution Dates set forth above (other than with respect to the Class X Certificates) were calculated on the basis of a 0% CPR. With respect to the Class X Certificates, the Assumed Final Distribution Date set forth above was calculated on the basis of a 100% CPR, and the assumption that the optional termination of the trust will be exercised on the first eligible Distribution Date. Since the rate of payment (including prepayments) of the mortgage loans may exceed the scheduled rate of payments, and could exceed the scheduled rate by a substantial amount, the actual final Distribution Date for one or more Classes of the Offered Certificates may be earlier, and could be substantially earlier, than the related Assumed Final Distribution Date(s). The rate of payments (including prepayments) on the mortgage loans will depend on the characteristics of the mortgage loans, as well as on the prevailing level of interest rates and other economic factors, and we cannot assure you as to actual payment experience. Finally, the Assumed Final Distribution Dates were calculated assuming that there would not be an early termination of the trust fund.

The Rated Final Distribution Date for each Class of Offered Certificates will be February 12, 2049. See ‘‘Ratings’’ in this free writing prospectus.

Subordination; Allocation of Collateral Support Deficit

The rights of holders of the Subordinate Certificates to receive distributions of amounts collected or advanced on the mortgage loans will be subordinated, to the extent described in this free writing prospectus, to the rights of holders of the Senior Certificates. Moreover, to the extent described in this free writing prospectus:

	•	the rights of the holders of the Class NR Certificates will be subordinated to the rights of the holders of the Class P Certificates,

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	•	the rights of the holders of the Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class N Certificates,

	•	the rights of the holders of the Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class M Certificates,

	•	the rights of the holders of the Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class L Certificates,

	•	the rights of the holders of the Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class K Certificates,

	•	the rights of the holders of the Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class J Certificates,

	•	the rights of the holders of the Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class H Certificates,

	•	the rights of the holders of the Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class G Certificates,

	•	the rights of the holders of the Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class F Certificates,

	•	the rights of the holders of the Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class E Certificates,

	•	the rights of the holders of the Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class D Certificates,

	•	the rights of the holders of the Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class C Certificates,

	•	the rights of the holders of the Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class B Certificates,

	•	the rights of the holders of the Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates will be subordinated to the rights of the holders of the Class A-J Certificates and Class A-JFL Regular Interest,

	•	the rights of the holders of the Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates and the Class A-JFL Regular Interest will be subordinated to the rights of the holders of the Class A-M Certificates and the Class A-MFL Regular Interest, and

	•	the rights of the holders of the Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates and the Class A-MFL and Class A-JFL Regular Interests will be subordinated to the rights of the holders of the Senior Certificates.

In addition, neither the Master Servicers nor the Trustee will be required to advance any amounts due to be paid by the Swap Counterparty for distribution to the Class A-MFL or the Class A-JFL Certificates.

This subordination is intended to enhance the likelihood of timely receipt by the holders of the Senior Certificates of the full amount of all interest payable in respect of the Senior

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Certificates on each Distribution Date, and the ultimate receipt by the holders of the Class A Certificates of principal in an amount equal to, in each case, the entire Certificate Balance of the Class A Certificates. Similarly, but to decreasing degrees, this subordination is also intended to enhance the likelihood of timely receipt by the holders of the Class A-M Certificates and the Class A-MFL Certificates, the holders of the Class A-J Certificates and the Class A-JFL Certificates, the holders of the Class B Certificates, the holders of the Class C Certificates and the holders of the Class D Certificates of the full amount of interest payable in respect of that Class of Certificates on each Distribution Date, and the ultimate receipt by the holders of the Class A-M Certificates and the Class A-MFL Certificates, the holders of the Class A-J Certificates and the Class A-JFL Certificates, the holders of the Class B Certificates, the holders of the Class C Certificates and the holders of the Class D Certificates of principal equal to the entire Certificate Balance of each of those Classes.

The protection afforded to the holders of the Class D Certificates by means of the subordination of the Non-Offered Certificates that are Subordinate Certificates (the ‘‘Non-Offered Subordinate Certificates’’), to the holders of the Class C Certificates by the subordination of the Class D Certificates and the Non-Offered Subordinate Certificates, to the holders of the Class B Certificates by the subordination of the Class C and Class D Certificates and the Non-Offered Subordinate Certificates, to the holders of the Class A-J Certificates and the Class A-JFL Certificates by the subordination of the Class B, Class C and Class D Certificates and the Non-Offered Subordinate Certificates, to the holders of the Class A-M Certificates and Class A-MFL Certificates by the subordination of the Class A-J Certificates and the Class A-JFL Certificates and the Class B, Class C and Class D Certificates and the Non-Offered Subordinate Certificates, and to the holders of the Senior Certificates by means of the subordination of the Subordinate Certificates will be accomplished by the application of the Available Distribution Amount on each Distribution Date in accordance with the order of priority described under ‘‘—Distributions’’ above and by the allocation of Collateral Support Deficits in the manner described below. No other form of credit support will be available for the benefit of the holders of the Offered Certificates.

After the Cross-Over Date has occurred, allocation of principal will be made to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates that are still outstanding, pro rata, without regard to Loan Groups or the Class A-SB Planned Principal Balance, until their Certificate Balances have been reduced to zero. Prior to the Cross-Over Date, allocation of principal will be made (i) with respect to Loan Group 1, first, to the Class A-SB Certificates until their Certificate Balance has been reduced to the Class A-SB Planned Principal Balance for the related Distribution Date, second, to the Class A-1 Certificates until their Certificate Balance has been reduced to zero, third, to the Class A-2 Certificates until their Certificate Balance has been reduced to zero, fourth, to the Class A-3 Certificates until their Certificate Balance has been reduced to zero, fifth, to the Class A-4 Certificates until their Certificate Balance has been reduced to zero, sixth, to the Class A-SB Certificates until their Certificate Balance has been reduced to zero, and then, if the Class A-1A Certificates are still outstanding, to the Class A-1A Certificates until their Certificate Balance has been reduced to zero and (ii) with respect to Loan Group 2, to the Class A-1A Certificates until their Certificate Balance has been reduced to zero and then, if any of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates are still outstanding, first, to the Class A-SB Certificates until their Certificate Balance has been reduced to the Class A-SB Planned Principal Balance for the related Distribution Date, second, to the Class A-1 Certificates until their Certificate Balance has been reduced to zero, third, to the Class A-2 Certificates until their Certificate Balance has been reduced to zero, fourth, to the Class A-3 Certificates until their Certificate Balance has been reduced to zero, fifth, to the Class A-4 Certificates until their Certificate Balance has been reduced to zero, and sixth, to the Class A-SB Certificates until their Certificate Balance has been reduced to zero.

Allocation to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates, for so long as they are outstanding, of the entire Principal Distribution Amount (remaining after allocation of principal to the Class A-SB Certificates until the Class A-SB

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Certificates are reduced to the Class A-SB Planned Principal Balance, as applicable) with respect to the related Loan Group for each Distribution Date will have the effect of reducing the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates at a proportionately faster rate than the rate at which the aggregate Stated Principal Balance of the pool of mortgage loans will decline. Therefore, as principal is distributed to the holders of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates the percentage interest in the trust evidenced by the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates will be decreased (with a corresponding increase in the percentage interest in the trust evidenced by the Subordinate Certificates), thereby increasing, relative to their respective Certificate Balances, the subordination afforded the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates by the Subordinate Certificates.

Following retirement of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates, the successive allocation on each Distribution Date of the remaining Principal Distribution Amount to the Class A-M Certificates and the Class A-MFL Regular Interest, pro rata, the Class A-J Certificates and the Class A-JFL Regular Interest, pro rata, the Class B Certificates, the Class C Certificates and the Class D Certificates and the remaining Non-Offered Certificates (other than the Residual Certificates), in that order, for so long as they are outstanding, will provide a similar, but diminishing benefit to the Class A-M Certificates and the Class A-MFL Regular Interest, pro rata, Class A-J Certificates and the Class A-JFL Regular Interest, pro rata, Class B Certificates, Class C Certificates and Class D Certificates as to the relative amount of subordination afforded by the outstanding Classes of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests with later sequential designations.

On each Distribution Date, immediately following the distributions to be made to the Certificateholders on that date, the Paying Agent is required to calculate the amount, if any, by which (1) the aggregate Stated Principal Balance (for purposes of this calculation only, the aggregate Stated Principal Balance will not be reduced by the amount of principal payments received on the mortgage loans that were used to reimburse the Master Servicers, the Special Servicer or the Trustee from general collections of principal on the mortgage loans for Workout-Delayed Reimbursement Amounts, to the extent those amounts are not otherwise determined to be Nonrecoverable Advances) of the mortgage loans, including any REO Loans expected to be outstanding immediately following that Distribution Date is less than (2) the aggregate Certificate Balance of the Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and Class A-MFL and Class A-JFL Regular Interests after giving effect to distributions of principal on that Distribution Date (any deficit, ‘‘Collateral Support Deficit’’). The Paying Agent will be required to allocate any Collateral Support Deficit among the respective Classes of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests as follows: to Class NR Certificates, Class P Certificates, Class N Certificates, Class M Certificates, Class L Certificates, Class K Certificates, Class J Certificates, Class H Certificates, Class G Certificates, Class F Certificates, Class E Certificates, Class D Certificates, Class C Certificates, Class B Certificates, Class A-J Certificates and Class A-JFL Regular Interest, pro rata, and Class A-M Certificates and Class A-MFL Regular Interest, pro rata, and in each case in respect of and until the remaining Certificate Balance of that Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest has been reduced to zero. Following the reduction of the Certificate Balances of all Classes of Subordinate Certificates and the Class A-MFL and Class A-JFL Regular Interests to zero, the Paying Agent will be required to allocate the Collateral Support Deficit among the Classes of Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates, pro rata, without regard to Loan Groups or the Class A-SB Planned Principal Balance (based upon their respective Certificate Balances), until the remaining Certificate Balances of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates have been reduced to zero. Any Collateral Support Deficit allocated to a Class of Certificates (or, in the case of the Class A-MFL and Class A-JFL Certificates, a reduction in

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Certificate Balance corresponding to any Collateral Support Deficit allocated to the Class A-MFL and Class A-JFL Regular Interests, respectively), will be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced by the respective Certificates.

Mortgage loan losses and Collateral Support Deficits will not be allocated to the Class R or Class LR Certificates and will not be directly allocated to the Class X Certificates. However, the Notional Amount of the Class X Certificates may be reduced if the related Classes of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates and Residual Certificates) or the Class A-MFL or Class A-JFL Regular Interest are reduced by such loan losses or such Collateral Support Deficits.

In general, Collateral Support Deficits could result from the occurrence of: (1) losses and other shortfalls on or in respect of the mortgage loans, including as a result of defaults and delinquencies on the mortgage loans, Nonrecoverable Advances made in respect of the mortgage loans, the payment to the Special Servicer of any compensation as described in ‘‘Transaction Parties—Servicing and Other Compensation and Payment of Expenses’’ in this free writing prospectus, and the payment of interest on Advances and certain servicing expenses; and (2) certain unanticipated, non-mortgage loan specific expenses of the trust fund, including certain reimbursements to the Trustee as described under ‘‘Description of the Pooling Agreements—Certain Matters Regarding the Trustee’’ in the prospectus, certain reimbursements to the Paying Agent as described under ‘‘Transaction Parties—The Trustee, Paying Agent, Certificate Registrar and Authenticating Agent’’ in this free writing prospectus, certain reimbursements to the Master Servicers and the Depositor as described under ‘‘Description of the Pooling Agreements—Certain Matters Regarding the Master Servicer and the Depositor’’ in the prospectus, and certain federal, state and local taxes, and certain tax-related expenses, payable out of the trust fund as described under ‘‘Certain Federal Income Tax Consequences—Federal Income Tax Consequences for REMIC Certificates—Taxes That May Be Imposed on the REMIC Pool’’ in the prospectus. Accordingly, the allocation of Collateral Support Deficit as described above will constitute an allocation of losses and other shortfalls experienced by the trust fund.

A Class of Offered Certificates will be considered outstanding until its Certificate Balance (or Notional Amount, in the case of the Class X-1 or Class X-2 Certificates) is reduced to zero. However, notwithstanding a reduction of its Certificate Balance to zero, reimbursements of any previously allocated Collateral Support Deficits are required thereafter to be made to a Class of Offered Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X-1 Certificates and Class X-2 Certificates) or the Class A-MFL or Class A-JFL Regular Interest in accordance with the payment priorities set forth in ‘‘—Distributions—Priority’’ above.

Advances

On the business day immediately preceding each Distribution Date (the ‘‘Master Servicer Remittance Date’’), each Master Servicer will be obligated, unless determined to be non-recoverable as described below, to make advances (each, a ‘‘P&I Advance’’) out of its own funds or, subject to the replacement of those funds as provided in the Pooling and Servicing Agreement, certain funds held in the Certificate Account that are not required to be part of the Available Distribution Amount for that Distribution Date, in an amount equal to (but subject to reduction as described below) the aggregate of: (1) all Periodic Payments (net of any applicable Servicing Fees), other than balloon payments, that were due on the mortgage loans (including the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) and any REO Loan during the related Due Period and not received as of the business day preceding the Master Servicer Remittance Date; and (2) in the case of each mortgage loan delinquent in respect of its balloon payment as of the related Master Servicer Remittance Date (including any REO Loan as to which the balloon payment would have been past due) and each REO Loan, an amount equal to its Assumed Scheduled Payment. Each Master Servicer’s obligations to make P&I Advances in respect of any mortgage loan (including the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) or REO Loan will continue, except if a determination as to non-recoverability is made, through and up to liquidation of the mortgage loan or disposition of the REO Property, as the

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case may be. However, no interest will accrue on any P&I Advance made with respect to a mortgage loan unless the related Periodic Payment is received after the related due date has passed and any applicable grace period has expired or if the related Periodic Payment is received prior to the Master Servicer Remittance Date. To the extent that a Master Servicer fails to make a P&I Advance that it is required to make under the Pooling and Servicing Agreement, the Trustee will make the required P&I Advance in accordance with the terms of the Pooling and Servicing Agreement.

Neither the Master Servicers nor the Trustee will be required to make a P&I Advance for default interest, Yield Maintenance Charges or prepayment premiums or with respect to the 599 Lexington Avenue Pari Passu Companion Loans, the AmeriCold Portfolio Pari Passu Companion Loans or any AB Subordinate Companion Loan. In addition, neither the Master Servicers nor the Trustee will be required to advance any amounts due to be paid by the Swap Counterparty for distribution to the Class A-MFL or Class A-JFL Certificates.

If an Appraisal Reduction has been made with respect to any mortgage loan or, in the case of the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan, an appraisal reduction has been made in accordance with the 2007-LDP10 Pooling and Servicing Agreement and the 2007-CIBC18 Pooling and Servicing Agreement, respectively, and such mortgage loan experiences subsequent delinquencies, then the interest portion of any P&I Advance in respect of that mortgage loan for the related Distribution Date will be reduced (there will be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of the P&I Advance for that mortgage loan for the related Distribution Date without regard to this sentence, and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of that mortgage loan immediately prior to the related Distribution Date, net of the related Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of that mortgage loan immediately prior to the related Distribution Date. For purposes of the immediately preceding sentence, the Periodic Payment due on the maturity date for a balloon loan will be the Assumed Scheduled Payment for the related Distribution Date.

In addition to P&I Advances, each Master Servicer will also be obligated, and the Special Servicer will have the option (with respect to emergency advances) (in each case, subject to the limitations described in this free writing prospectus), to make advances (‘‘Servicing Advances’’ and, collectively with P&I Advances, ‘‘Advances’’) in connection with the servicing and administration of any mortgage loan (other than the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan) in respect of which a default, delinquency or other unanticipated event has occurred or is reasonably foreseeable, or, in connection with the servicing and administration of any Mortgaged Property or REO Property, in order to pay delinquent real estate taxes, assessments and hazard insurance premiums and to cover other similar costs and expenses necessary to preserve the priority of or enforce the related mortgage loan documents or to protect, lease, manage and maintain the related Mortgaged Property. To the extent that a Master Servicer fails to make a Servicing Advance that it is required to make under the Pooling and Servicing Agreement and the Trustee has notice of this failure, the Trustee will be required to make the required Servicing Advance in accordance with the terms of the Pooling and Servicing Agreement.

Each Master Servicer, the Special Servicer or the Trustee, as applicable, will be entitled to recover any Servicing Advance made out of its own funds from any amounts collected in respect of a mortgage loan (including, with respect to an AB Mortgage Loan in accordance with the related Intercreditor Agreement, the related AB Subordinate Companion Loan), as to which that Servicing Advance was made, and to recover any P&I Advance made out of its own funds from any amounts collected in respect of a mortgage loan, whether in the form of late payments, Insurance and Condemnation Proceeds, Liquidation Proceeds or otherwise from the related mortgage loan (‘‘Related Proceeds’’). Notwithstanding the foregoing, none of the Master Servicers, the Special Servicer or the Trustee will be obligated to make any Advance that it

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determines in its reasonable judgment would, if made, not be recoverable (including interest on the Advance) out of Related Proceeds (a ‘‘Nonrecoverable Advance’’).

Each of the Master Servicers, the Special Servicer and the Trustee will be entitled to recover any Advance by it that it subsequently determines to be a Nonrecoverable Advance out of general funds relating to the mortgage loans on deposit in the Certificate Account (first from principal collections and then from interest collections). The Trustee will be entitled to rely conclusively on any non-recoverability determination of the Master Servicers and shall be bound by any non-recoverability determination of the Special Servicer.

If the funds in the Certificate Account relating to the mortgage loans allocable to principal on the mortgage loans are insufficient to fully reimburse the party entitled to reimbursement, then such party as an accommodation may elect, on a monthly basis, at its sole option and discretion to defer reimbursement of the portion that exceeds such amount allocable to principal (in which case interest will continue to accrue on the unreimbursed portion of the advance) for a consecutive period up to 12 months and any election to so defer shall be deemed to be in accordance with the servicing standard; provided, that no such deferral shall occur at any time to the extent that amounts otherwise distributable as principal are available for such reimbursement.

Each of the Master Servicers, the Special Servicer and the Trustee will be entitled to recover any Advance that is outstanding at the time that a mortgage loan is modified but is not repaid in full by the borrower in connection with such modification but becomes an obligation of the borrower to pay such amounts in the future (such Advance, together with interest on that Advance, a ‘‘Workout-Delayed Reimbursement Amount’’) out of principal collections on the mortgage loans in the Certificate Account.

Any amount that constitutes all or a portion of any Workout-Delayed Reimbursement Amount may in the future be determined to constitute a Nonrecoverable Advance and thereafter shall be recoverable as any other Nonrecoverable Advance. To the extent a Nonrecoverable Advance or a Workout-Delayed Reimbursement Amount with respect to a mortgage loan is required to be reimbursed from the principal portion of the general collections on the mortgage loans as described in the second preceding paragraph, such reimbursement will be made first from the principal collections available on the mortgage loans included in the same Loan Group as such mortgage loan and if the principal collections in such Loan Group are not sufficient to make such reimbursement in full, then from the principal collections available in the other Loan Group (after giving effect to any reimbursement of Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts that are related to such other Loan Group).

To the extent a Nonrecoverable Advance with respect to a mortgage loan is required to be reimbursed from the interest portion of the general collections on the mortgage loans as described in this paragraph, such reimbursement will be made first, from the interest collections available on the mortgage loans included in the same Loan Group as such mortgage loan and if the interest collections in such Loan Group are not sufficient to make such reimbursement in full, then from the interest collections available in the other Loan Group (after giving effect to any reimbursement of Nonrecoverable Advances that are related to such other Loan Group). In addition, the Special Servicer may, at its option, in consultation with the Directing Certificateholder, make a determination in accordance with the Servicing Standards that any P&I Advance or Servicing Advance, if made, would be a Nonrecoverable Advance and may deliver to the applicable Master Servicer and the Trustee notice of such determination, which determination will be conclusive and binding on the applicable Master Servicer and the Trustee; however, the Special Servicer will have no such option to make an affirmative determination that any P&I Advance or Servicing Advance is, or would be, recoverable, and in the absence of a determination by the Special Servicer that such an Advance is non-recoverable, each such decision will remain with the applicable Master Servicer. Notwithstanding the foregoing, if the Special Servicer makes a determination that only a portion, and not all, of any previously made or proposed P&I Advance or Servicing Advance is non-recoverable, the applicable Master Servicer

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shall have the right to make its own subsequent determination that any remaining portion of any such previously made or proposed P&I Advance or Servicing Advance is non-recoverable. Additionally, with respect to the 599 Lexington Avenue Loan, if the applicable Master Servicer or the Special Servicer determines that any P&I Advance with respect to the 599 Lexington Avenue Loan, if made, would be non-recoverable, such determination will not be binding on the 599 Lexington Avenue Master Servicer and the trustee under the 2007-LDP10 Pooling and Servicing Agreement as it relates to any proposed P&I Advance with respect to the 599 Lexington Avenue Pari Passu Companion Loans. Additionally, with respect to the AmeriCold Portfolio Loan, if the applicable Master Servicer or the Special Servicer determines that any P&I Advance with respect to the AmeriCold Portfolio Loan, if made, would be non-recoverable, such determination will not be binding on the AmeriCold Portfolio Primary Servicer and the trustee under the 2007-CIBC18 Pooling and Servicing Agreement as it relates to any proposed P&I Advance with respect to the AmeriCold Portfolio Pari Passu Companion Loans. In making such non-recoverability determination, such person will be entitled to consider (among other things) only the obligations of the borrower under the terms of the related mortgage loan as it may have been modified, to consider (among other things) the related Mortgaged Properties in their ‘‘as is’’ or then current conditions and occupancies, as modified by such party’s assumptions regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties, to estimate and consider (among other things) future expenses and to estimate and consider (among other things) the timing of recoveries and will be entitled to give due regard to the existence of any Nonrecoverable Advances which, at the time of such consideration, the recovery of which are being deferred or delayed by the applicable Master Servicer, in light of the fact that Related Proceeds are a source of recovery not only for the Advance under consideration but also a potential source of recovery for such delayed or deferred Advance. In addition, any such person may update or change its recoverability determinations (but not reverse any other person’s determination that an Advance is non-recoverable) at any time and may obtain at the expense of the trust any analysis, appraisals or market value estimates or other information for such purposes. Absent bad faith, any non-recoverability determination described in this paragraph will be conclusive and binding on the Certificateholders, the Master Servicers and the Trustee. The Trustee will be entitled to rely conclusively on any non-recoverability determination of the Master Servicers and shall be bound by any non-recoverability determination of the Special Servicer and the Master Servicers shall rely conclusively on any non-recoverability determination of the Special Servicer. If the Special Servicer determines that a portion of an Advance is or would be non-recoverable, neither the applicable Master Servicer nor the Trustee will be precluded from determining that the remainder of such Advance is or would be non-recoverable. Non-recoverable Advances will represent a portion of the losses to be borne by the Certificateholders.

No P&I Advances will be made by the Master Servicers or the Trustee with respect to delinquent amounts in respect of monthly payments or the balloon payments due on the 599 Lexington Avenue Pari Passu Companion Loans, the AmeriCold Portfolio Pari Passu Companion Loans or any AB Subordinate Companion Loan. No Servicing Advances will be made with respect to any AB Subordinate Companion Loans if any related AB Mortgage Loan is no longer part of the trust. Any requirement of the Master Servicers, Special Servicer or Trustee to make an Advance in the Pooling and Servicing Agreement is intended solely to provide liquidity for the benefit of the Certificateholders and not as credit support or otherwise to impose on any such person the risk of loss with respect to one or more mortgage loans. See ‘‘Description of the Certificates—Advances in Respect of Delinquencies’’ and ‘‘Description of the Pooling Agreements—Certificate Account’’ in the prospectus.

In connection with its recovery of any Advance, each of the Master Servicers, the Special Servicer and the Trustee will be entitled to be paid, out of any amounts relating to the mortgage loans then on deposit in the Certificate Account, interest at the Prime Rate (the ‘‘Reimbursement Rate’’) accrued on the amount of the Advance from the date made to, but not including, the date of reimbursement. Neither the Master Servicers nor the Trustee will be entitled to interest on P&I

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Advances that accrues before the related due date has passed and any applicable grace period has expired. The ‘‘Prime Rate’’ will be the prime rate, for any day, set forth in The Wall Street Journal, New York edition.

Each Statement to Certificateholders furnished or made available by the Paying Agent to the Certificateholders will contain information relating to the amounts of Advances made with respect to the related Distribution Date. See ‘‘Description of the Certificates—Reports to Certificateholders; Certain Available Information’’ in this free writing prospectus and ‘‘Description of the Certificates—Reports to Certificateholders’’ in the prospectus.

Appraisal Reductions

After an Appraisal Reduction Event has occurred with respect to a mortgage loan (except for the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan), an Appraisal Reduction is required to be calculated. An ‘‘Appraisal Reduction Event’’ will occur on the earliest of:

(1)    120 days after an uncured delinquency (without regard to the application of any grace period) occurs in respect of a mortgage loan or a related AB Subordinate Companion Loan (except with respect to a balloon payment);

(2)    the date on which a reduction in the amount of Periodic Payments on a mortgage loan or a related AB Subordinate Companion Loan, or a change in any other material economic term of the mortgage loan or a related AB Subordinate Companion Loan (other than an extension of its maturity), becomes effective as a result of a modification of the related mortgage loan by the Special Servicer;

(3)    the date on which a receiver has been appointed;

(4)    60 days after a borrower declares bankruptcy;

(5)    60 days after the date on which an involuntary petition of bankruptcy is filed with respect to the borrower if not dismissed within such time;

(6)    90 days after an uncured delinquency occurs in respect of a balloon payment for a mortgage loan or a related AB Subordinate Companion Loan, except where a refinancing is anticipated within 120 days after the maturity date of the mortgage loan, in which case 120 days after such uncured delinquency; and

(7)    immediately after a mortgage loan or a related AB Subordinate Companion Loan becomes an REO Loan.

No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Certificates (other than the Class A Certificates) has been reduced to zero.

The ‘‘Appraisal Reduction’’ for any Distribution Date and for any mortgage loan (other than with respect to the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan) as to which any Appraisal Reduction Event has occurred, will be an amount, calculated by the Special Servicer (which calculation may be relied upon by the applicable Master Servicer as of 1 business day prior to the related Determination Date) as of the first Determination Date that is at least 10 business days following the date the Special Servicer receives an appraisal or conducts a valuation described below, equal to the excess of (a) the Stated Principal Balance of that mortgage loan over (b) the excess of (1) the sum of (x) 90% of the appraised value of the related Mortgaged Property as determined (A) by one or more MAI appraisals with respect to that mortgage loan (together with any other mortgage loan cross-collateralized with such loan) with an outstanding principal balance equal to or in excess of $2,000,000 (the costs of which will be paid by the applicable Master Servicer as an Advance), or (B) by an internal valuation performed by the Special Servicer with respect to that mortgage loan (together with any other mortgage loan cross-collateralized with that mortgage loan) with an outstanding principal balance less than $2,000,000, minus with respect to any MAI appraisals such downward adjustments as the

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Special Servicer may make (without implying any obligation to do so) based upon its review of the appraisals and any other information it deems relevant, and (y) all escrows, letters of credit and reserves in respect of that mortgage loan as of the date of calculation over (2) the sum as of the due date occurring in the month of the date of determination of (x) to the extent not previously advanced by the applicable Master Servicer or the Trustee, all unpaid interest on that mortgage loan at a per annum rate equal to the Mortgage Rate, (y) all Advances not reimbursed from the proceeds of such mortgage loan and interest on those Advances at the Reimbursement Rate in respect of that mortgage loan and (z) all currently due and unpaid real estate taxes and assessments, insurance premiums and ground rents, unpaid Special Servicing Fees and all other amounts due and unpaid under that mortgage loan (which tax, premiums, ground rents and other amounts have not been the subject of an Advance by the applicable Master Servicer, the Special Servicer or the Trustee, as applicable).

The Special Servicer will be required to order an appraisal or conduct a valuation promptly upon the occurrence of an Appraisal Reduction Event (other than with respect to the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan). On the first Determination Date occurring on or after the tenth business day following the receipt of the MAI appraisal or the completion of the valuation, the Special Servicer will be required to calculate and report to the Directing Certificateholder, the applicable Master Servicer, the Trustee and the Paying Agent, the Appraisal Reduction, taking into account the results of such appraisal or valuation. In the event that the Special Servicer has not received any required MAI appraisal within 60 days after the Appraisal Reduction Event (or, in the case of an appraisal in connection with an Appraisal Reduction Event described in clauses (1) and (6) of the third preceding paragraph, within 120 days (in the case of clause (1)) or 90 or 120 days (in the case of clause (6)), respectively, after the initial delinquency for the related Appraisal Reduction Event), the amount of the Appraisal Reduction will be deemed to be an amount equal to 25% of the current Stated Principal Balance of the related mortgage loan until the MAI appraisal is received.

With respect to the AB Mortgage Loans, Appraisal Reductions will be calculated based on the aggregate outstanding principal balance of the AB Mortgage Loan and the related AB Subordinate Companion Loan, and all resulting Appraisal Reductions will be allocated to the related AB Subordinate Companion Loan prior to being allocated to the AB Mortgage Loan.

As a result of calculating one or more Appraisal Reductions, the amount of any required P&I Advance will be reduced, which will have the effect of reducing the amount of interest available to the most subordinate Class of Certificates or the Class A-MFL or Class A-JFL Regular Interest then outstanding (i.e., first, to the Class NR Certificates, then to the Class P Certificates, then to the Class N Certificates, then to the Class M Certificates, then to the Class L Certificates, then to the Class K Certificates, then to the Class J Certificates, then to the Class H Certificates, then to the Class G Certificates, then to the Class F Certificates, then to the Class E Certificates, then to the Class D Certificates, then to the Class C Certificates, then to the Class B Certificates, then to the Class A-JFL Regular Interest (and correspondingly to the Class A-JFL Certificates) and the Class A-J Certificates, pro rata, then to the Class A-MFL Regular Interest (and correspondingly to the Class A-MFL Certificates) and the Class A-M Certificates, pro rata, and then to the Class A Certificates and the Class X Certificates, pro rata). See ‘‘—Advances’’ above.

With respect to each mortgage loan (other than the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan) as to which an Appraisal Reduction has occurred (unless the mortgage loan has remained current for three consecutive Periodic Payments, and with respect to which no other Appraisal Reduction Event has occurred with respect to that mortgage loan during the preceding three months), the Special Servicer is required, within 30-days of each annual anniversary of the related Appraisal Reduction Event to order an appraisal (which may be an update of a prior appraisal), the cost of which will be a Servicing Advance, or to conduct an internal valuation, as applicable. Based upon the appraisal or valuation, the Special Servicer is required to redetermine and report to the Directing Certificateholder, the applicable Master Servicer, the Trustee and the Paying Agent, the recalculated amount of the Appraisal Reduction with respect to the mortgage loan. The Directing Certificateholder will have 10 business days to

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review and approve each calculation of any recalculated Appraisal Reduction. Notwithstanding the foregoing, the Special Servicer will not be required to obtain an appraisal or valuation with respect to a mortgage loan that is the subject of an Appraisal Reduction Event to the extent the Special Servicer has obtained an appraisal or valuation with respect to the related Mortgaged Property within the 12-month period prior to the occurrence of the Appraisal Reduction Event. Instead, the Special Servicer may use the prior appraisal or valuation in calculating any Appraisal Reduction with respect to the mortgage loan, provided that the Special Servicer is not aware of any material change to the Mortgaged Property, its earnings potential or risk characteristics, or marketability, or market conditions that has occurred that would affect the validity of the appraisal or valuation.

The 599 Lexington Avenue Loan is subject to the provisions in the 2007-LDP10 Pooling and Servicing Agreement relating to appraisal reductions that are substantially similar to the provisions described above. The existence of an appraisal reduction under the 2007-LDP10 Pooling and Servicing Agreement in respect of the 599 Lexington Avenue Loan will proportionately reduce the applicable Master Servicer’s or the Trustee’s, as the case may be, obligation to make P&I Advances on the 599 Lexington Avenue Loan and will generally have the effect of reducing the amount otherwise available for distributions to the Certificateholders. Pursuant to the 2007-LDP10 Pooling and Servicing Agreement, the 599 Lexington Avenue Loan will be treated as a single mortgage loan for purposes of calculating an appraisal reduction amount with respect to the mortgage loans that comprise the 599 Lexington Avenue Whole Loan. Any appraisal reduction calculated with respect to the 599 Lexington Avenue Whole Loan will be allocated to the 599 Lexington Avenue Loan and the 599 Lexington Avenue Pari Passu Companion Loans, pro rata, based on their outstanding principal balances.

The AmeriCold Portfolio Loan is subject to the provisions in the 2007-CIBC18 Pooling and Servicing Agreement relating to appraisal reductions that are substantially similar to the provisions described above. The existence of an appraisal reduction under the 2007-CIBC18 Pooling and Servicing Agreement in respect of the AmeriCold Portfolio Loan will proportionately reduce the applicable Master Servicer’s or the Trustee’s, as the case may be, obligation to make P&I Advances on the AmeriCold Portfolio Loan and will generally have the effect of reducing the amount otherwise available for distributions to the Certificateholders. Pursuant to the 2007-CIBC18 Pooling and Servicing Agreement, the AmeriCold Portfolio Loan will be treated as a single mortgage loan for purposes of calculating an appraisal reduction amount with respect to the mortgage loans that comprise the AmeriCold Portfolio Whole Loan. Any appraisal reduction calculated with respect to the AmeriCold Portfolio Whole Loan will be allocated to the AmeriCold Portfolio Loan and the AmeriCold Portfolio Pari Passu Companion Loans, pro rata, based on their outstanding principal balances.

Any mortgage loan (other than the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan) previously subject to an Appraisal Reduction that becomes current and remains current for three consecutive Periodic Payments, and with respect to which no other Appraisal Reduction Event has occurred and is continuing, will no longer be subject to an Appraisal Reduction.

Reports to Certificateholders; Certain Available Information

On each Distribution Date, the Paying Agent will be required to make available on its website to each holder of a Certificate, the Underwriters, the Master Servicers, the Special Servicer, the Directing Certificateholder, the holder of each AB Subordinate Companion Loan, each Rating Agency, the Swap Counterparty, the Trustee and certain assignees of the Depositor, including certain financial market publishers (which are anticipated to initially be Bloomberg, L.P., Trepp, LLC and Intex Solutions, Inc.), if any, a statement (a ‘‘Statement to Certificateholders’’) based in part upon information provided by the Master Servicers in accordance with the Commercial Mortgage Securities Association (or any successor organization reasonably acceptable to the Master Servicers and the Paying Agent) guidelines setting forth, among other things:

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(1)    the amount of the distribution on the Distribution Date to the holders of each Class of Certificates in reduction of the Certificate Balance of the Certificates;

(2)    the amount of the distribution on the Distribution Date to the holders of each Class of Certificates allocable to Distributable Certificate Interest, the Class A-MFL Interest Distribution Amount, and with respect to the Class A-MFL Certificates, notification that the amount of interest distributed on such Class is the Interest Distribution Amount with respect to the Class A-MFL Regular Interest, which amount is being paid as a result of the A-MFL Swap Default, the Class A-JFL Interest Distribution Amount, and with respect to the Class A-JFL Certificates, notification that the amount of interest distributed on such Class is the Interest Distribution Amount with respect to the Class A-JFL Regular Interest, which amount is being paid as a result of the A-JFL Swap Default;

(3)    the aggregate amount of P&I Advances made in respect of the Distribution Date;

(4)    the aggregate amount of compensation paid to the Trustee and the Paying Agent and servicing compensation paid to the Master Servicers and the Special Servicer with respect to the Due Period for the Distribution Date;

(5)    the aggregate Stated Principal Balance of the mortgage loans and any REO Loans outstanding immediately before and immediately after the Distribution Date;

(6)    the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the mortgage loans as of the end of the related Due Period for the Distribution Date;

(7)    the number and aggregate principal balance of mortgage loans (A) delinquent 30-59 days, (B) delinquent 60-89 days, (C) delinquent 90-119 days (and for each 30-day period thereafter until liquidation), (D) current but specially serviced or in foreclosure but not an REO Property and (E) for which the related borrower is subject to oversight by a bankruptcy court;

(8)    the value of any REO Property included in the trust fund as of the Determination Date for the Distribution Date, on a loan-by-loan basis, based on the most recent appraisal or valuation;

(9)    the Available Distribution Amount, the Class A-MFL Available Funds and the Class A-JFL Available Funds for the Distribution Date;

(10)    the amount of the distribution on the Distribution Date to the holders of each Class of Certificates allocable to Yield Maintenance Charges;

(11)    the Pass-Through Rate for each Class of Certificates for the Distribution Date and the next succeeding Distribution Date;

(12)    the Scheduled Principal Distribution Amount and the Unscheduled Principal Distribution Amount for the Distribution Date;

(13)    the Certificate Balance or Notional Amount, as the case may be, of each Class of Certificates immediately before and immediately after the Distribution Date, separately identifying any reduction in these amounts as a result of the allocation of any Collateral Support Deficit on the Distribution Date;

(14)    the fraction, expressed as a decimal carried to eight places, the numerator of which is the then related Certificate Balance or Notional Amount, as the case may be, and the denominator of which is the related initial aggregate Certificate Balance or Notional Amount, as the case may be, for each Class of Certificates (other than the Residual Certificates) immediately following the Distribution Date;

(15)    the amount of any Appraisal Reductions effected in connection with the Distribution Date on a loan-by-loan basis and the total Appraisal Reduction effected in connection with such Distribution Date;

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(16)    the number and Stated Principal Balances of any mortgage loans extended or modified since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) on a loan-by-loan basis;

(17)    the amount of any remaining unpaid interest shortfalls for each Class of Certificates as of the Distribution Date;

(18)    a loan-by-loan listing of each mortgage loan which was the subject of a principal prepayment since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) and the amount and the type of principal prepayment occurring;

(19)    a loan-by-loan listing of any mortgage loan that was defeased since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date);

(20)    all deposits into, withdrawals from, and the balance of the Interest Reserve Account on the related Master Servicer Remittance Date;

(21)    the amount of the distribution on the Distribution Date to the holders of each Class of Certificates in reimbursement of Collateral Support Deficit;

(22)    the aggregate unpaid principal balance of the mortgage loans outstanding as of the close of business on the related Determination Date;

(23)    with respect to any mortgage loan as to which a liquidation occurred since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) (other than a payment in full), (A) its loan number, (B) the aggregate of all Liquidation Proceeds which are included in the Available Distribution Amount and other amounts received in connection with the liquidation (separately identifying the portion allocable to distributions on the Certificates) and (C) the amount of any Collateral Support Deficit in connection with the liquidation;

(24)    with respect to any REO Property included in the trust as to which the Special Servicer determined, in accordance with the Servicing Standards, that all payments or recoveries with respect to the Mortgaged Property have been ultimately recovered since the previous Determination Date, (A) the loan number of the related mortgage loan, (B) the aggregate of all Liquidation Proceeds and other amounts received in connection with that determination (separately identifying the portion allocable to distributions on the Certificates) and (C) the amount of any realized loss in respect of the related REO Loan in connection with that determination;

(25)    the aggregate amount of interest on P&I Advances paid to each Master Servicer and the Trustee since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date);

(26)    the aggregate amount of interest on Servicing Advances (other than with respect to the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) paid to each Master Servicer, the Special Servicer and the Trustee since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date);

(27)    the original and then-current credit support levels for each Class of Certificates;

(28)    the original and then-current ratings for each Class of Certificates;

(29)    the amount of the distribution on the Distribution Date to the holders of the Residual Certificates;

(30)    the aggregate amount of Yield Maintenance Charges collected since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date);

(31)    LIBOR as calculated for the related Distribution Date and for the next succeeding Distribution Date;

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(32)    the amounts received and paid in respect of the A-MFL Swap Contract and the A-JFL Swap Contract;

(33)    identification of any Rating Agency Trigger Event, A-MFL Swap Default or A-JFL Swap Default as of the close of business on the last day of the immediately preceding calendar month with respect to the A-MFL Swap Contract or the A-JFL Swap Contract;

(34)    the amount of any (A) payment by the Swap Counterparty under the A-MFL Swap Contract or the A-JFL Swap Contract as a termination payment, (B) payment to any successor swap counterparty to acquire a replacement interest rate swap contract, and (C) collateral posted in connection with any Rating Agency Trigger Event;

(35)    the amount of and identification of any payments on the Class A-MFL or Class A-JFL Certificates in addition to the amount of principal and interest due thereon, such as any termination payment received in connection with the A-MFL Swap Contract or the A-JFL Swap Contract, respectively;

(36)    identification of any material modification, extension or waiver of a mortgage loan; and

(37)    identification of any material breach of the representations and warranties given with respect to a mortgage loan by the applicable Mortgage Loan Seller.

Under the Pooling and Servicing Agreement, each Master Servicer is required to provide to the holder of the related AB Subordinate Companion Loan certain other reports, copies and information relating to the applicable AB Mortgage Loan Pair.

The Paying Agent will make available each month the Statements to Certificateholders and the other parties to the Pooling and Servicing Agreement through its website, which is initially located at www.etrustee.net. In addition, the Paying Agent may make certain other information and reports (including the collection of reports specified by The Commercial Mortgage Securities Association (or any successor organization reasonably acceptable to the Paying Agent and the Master Servicers) known as the ‘‘CMSA Investor Reporting Package’’) related to the mortgage loans available, to the extent that the Paying Agent receives such information and reports from the Master Servicers, and direction from the Depositor, or is otherwise directed to do so under the Pooling and Servicing Agreement. The Paying Agent will not make any representations or warranties as to the accuracy or completeness of any information provided by it and may disclaim responsibility for any information for which it is not the original source. In connection with providing access to the Paying Agent’s website, the Paying Agent may require registration and acceptance of a disclaimer. The Paying Agent will not be liable for the dissemination of information made in accordance with the Pooling and Servicing Agreement.

In addition, copies of each Statement to Certificateholders will be filed with the Securities and Exchange Commission through its EDGAR system located at ‘‘http://www.sec.gov’’ under the name of the Issuing Entity for so long as the Issuing Entity is subject to the reporting requirement of the Securities Exchange Act of 1934, as amended. The public also may read and copy any materials filed with the Securities and Exchange Commission at its Public Reference Room located at 100 F Street, NE, Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.

In the case of information furnished pursuant to clauses (1), (2), (10), (17) and (21) above, the amounts will be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per any definitive certificate. In addition, within a reasonable period of time after the end of each calendar year, the Paying Agent is required to furnish to each person or entity who at any time during the calendar year was a holder of a Certificate, a statement containing the information set forth in clauses (1), (2) and (10) above as to the applicable Class, aggregated for the related calendar year or applicable partial year during which that person was a Certificateholder, together with any other information that the Paying Agent deems necessary or desirable, or that a Certificateholder or Certificate Owner reasonably requests, to enable

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Certificateholders to prepare their tax returns for that calendar year. This obligation of the Paying Agent will be deemed to have been satisfied to the extent that substantially comparable information will be provided by the Paying Agent pursuant to any requirements of the Code as from time to time are in force.

The Paying Agent will be required to provide or make available to certain financial market publishers, which are anticipated initially to be Bloomberg, L.P., Trepp, LLC and Intex Solutions, Inc., certain current information with respect to the Mortgaged Properties on a monthly basis, including current and original net operating income, debt service coverage ratio based upon borrowers’ annual Operating Statements and occupancy rates, to the extent it has received the information from the Master Servicers pursuant to the Pooling and Servicing Agreement.

The Pooling and Servicing Agreement requires that the Paying Agent (except for items (6) and (7), which will be made available by the Trustee) make available at its offices, during normal business hours, for review by any holder of an Offered Certificate, the Mortgage Loan Sellers, the Depositor, the Special Servicer, the Master Servicers, the Directing Certificateholder, each Rating Agency, any designee of the Depositor or any other person to whom the Paying Agent or the Trustee, as applicable, believes the disclosure is appropriate, upon their prior written request, originals or copies of, among other things, the following items:

(1)    the Pooling and Servicing Agreement and any amendments to that agreement;

(2)    all Statements to Certificateholders made available to holders of the relevant Class of Offered Certificates since the Closing Date;

(3)    all officer’s certificates delivered to the Trustee and the Paying Agent since the Closing Date as described under ‘‘Description of the Pooling Agreements—Evidence as to Compliance’’ in the prospectus;

(4)    all accountants’ reports delivered to the Trustee and the Paying Agent since the Closing Date as described under ‘‘Description of the Pooling Agreements—Evidence as to Compliance’’ in the prospectus;

(5)    the most recent property inspection report prepared by or on behalf of the Master Servicers or the Special Servicer and delivered to the Paying Agent in respect of each Mortgaged Property;

(6)    copies of the mortgage loan documents;

(7)    any and all modifications, waivers and amendments of the terms of a mortgage loan entered into by the Master Servicers or the Special Servicer and delivered to the Trustee; and

(8)    any and all statements and reports delivered to, or collected by, the Master Servicers or the Special Servicer, from the borrowers, including the most recent annual property Operating Statements, rent rolls and borrower financial statements, but only to the extent that the statements and reports have been delivered to the Paying Agent.

Copies of any and all of the foregoing items will be available to those named in the above paragraph, from the Paying Agent or the Trustee, as applicable, upon request; however, the Paying Agent or the Trustee, as applicable, will be permitted to require payment of a sum sufficient to cover the reasonable costs and expenses of providing the copies, except that the Directing Certificateholder will be entitled to receive such items free of charge. Pursuant to the Pooling and Servicing Agreement, the Master Servicers will be required to use reasonable efforts to collect certain financial and property information required under the mortgage loan documents, such as Operating Statements, rent rolls and financial statements.

The Trustee will make each Statement to Certificateholders available each month to Certificateholders and the other parties to the Pooling and Servicing Agreement via the Trustee’s internet website. The Trustee will also make the periodic reports described in the prospectus under ‘‘Description of Certificates—Reports to Certificateholders’’ relating to the Issuing Entity

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available through its website on the same date they are filed with the Securities and Exchange Commission. The Trustee’s internet website will initially be located at ‘‘www.etrustee.net’’. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (312) 904-6342. Parties that are unable to use the website are entitled to have a paper copy mailed to them at no charge via first class mail by calling the customer service desk.

The Trustee is responsible for the preparation of tax returns on behalf of the trust and the preparation of monthly reports on Form 10-D (based on information included in each monthly Statement to Certificateholders and other information provided by other transaction parties) and annual reports on Form 10-K and certain other reports on Form 8-K that are required to be filed with the Securities and Exchange Commission on behalf of the trust.

The Pooling and Servicing Agreement will require the Master Servicers and the Paying Agent, subject to certain restrictions (including execution and delivery of a confidentiality agreement) set forth in the Pooling and Servicing Agreement, to provide certain of the reports or, in the case of the Master Servicers and the Controlling Class Certificateholder, access to the reports available as set forth above, as well as certain other information received by the Master Servicers or the Paying Agent, as the case may be, to any Certificateholder, the Underwriters, the Mortgage Loan Sellers, any Certificate Owner or any prospective investor so identified by a Certificate Owner or an Underwriter, that requests reports or information. However, the Paying Agent and the Master Servicers will be permitted to require payment of a sum sufficient to cover the reasonable costs and expenses of providing copies of these reports or information, except that, other than for extraordinary or duplicate requests, the Directing Certificateholder will be entitled to reports and information free of charge. Except as otherwise set forth in this paragraph, until the time definitive certificates are issued, notices and statements required to be mailed to holders of Certificates will be available to Certificate Owners of Offered Certificates only to the extent they are forwarded by or otherwise available through DTC and its Participants. Conveyance of notices and other communications by DTC to Participants, and by Participants to Certificate Owners, will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Except as otherwise set forth in this paragraph, the Master Servicers, the Special Servicer, the Trustee, the Paying Agent and the Depositor are required to recognize as Certificateholders only those persons in whose names the Certificates are registered on the books and records of the Certificate Registrar. The initial registered holder of the Offered Certificates will be Cede & Co., as nominee for DTC.

Voting Rights

At all times during the term of the Pooling and Servicing Agreement, the voting rights for the Certificates (the ‘‘Voting Rights’’) will be allocated among the respective Classes of Certificateholders as follows: (1) 4% in the case of the Class X Certificates (allocated, pro rata, between the Class X-1 and Class X-2 Certificates based upon their Notional Amounts), and (2) in the case of any other Class of Certificates (other than the Residual Certificates), a percentage equal to the product of 96% and a fraction, the numerator of which is equal to the aggregate Certificate Balance of the Class, in each case, determined as of the prior Distribution Date, and the denominator of which is equal to the aggregate Certificate Balance of all Classes of Certificates, each determined as of the prior Distribution Date. None of the Class R or Class LR Certificates will be entitled to any Voting Rights. For purposes of determining Voting Rights, the Certificate Balance of each Class will not be reduced by the amount allocated to that Class of any Appraisal Reductions related to mortgage loans as to which Liquidation Proceeds or other final payment have not yet been received. Voting Rights allocated to a Class of Certificateholders will be allocated among the Certificateholders in proportion to the Percentage Interests evidenced by their respective Certificates. Solely for purposes of giving any consent, approval or waiver pursuant to the Pooling and Servicing Agreement, neither the Master Servicers, the Special Servicer nor the Depositor will be entitled to exercise any Voting Rights with respect to any Certificates registered in its name, if the consent, approval or waiver would in any way increase its compensation or limit its obligations in the named capacities or waive an Event of Default

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under the Pooling and Servicing Agreement; provided, however, that the restrictions will not apply to the exercise of the Special Servicer’s rights, if any, as a member of the Controlling Class.

Termination; Retirement of Certificates

The obligations created by the Pooling and Servicing Agreement will terminate upon payment (or provision for payment) to all Certificateholders and the Swap Counterparty of all amounts held by the Paying Agent on behalf of the Trustee and required to be paid following the earlier of (1) the final payment (or related Advance) or other liquidation of the last mortgage loan or REO Property subject to the Pooling and Servicing Agreement, (2) the voluntary exchange of all the then outstanding certificates (other than the Residual Certificates) for the mortgage loans remaining in the trust (provided, however, that (a) the Offered Certificates are no longer outstanding, (b) there is only one holder of the then outstanding Certificates (other than the Residual Certificates) and (c) each Master Servicer consents to the exchange) or (3) the purchase or other liquidation of all of the assets of the trust fund by the holders of the Controlling Class, the Special Servicer, the Master Servicers or the holders of the Class LR Certificates, in that order of priority. Written notice of termination of the Pooling and Servicing Agreement will be given by the Paying Agent to each Certificateholder, the Swap Counterparty and each Rating Agency and the final distribution will be made only upon surrender and cancellation of the Certificates at the office of the Certificate Registrar or other location specified in the notice of termination.

The holders of the Controlling Class, the Special Servicer, each Master Servicer and the holders of the Class LR Certificates (in that order) will have the right to purchase all of the assets of the trust fund. This purchase of all the mortgage loans and other assets in the trust fund is required to be made at a price equal to the sum of (1) the aggregate Purchase Price of all the mortgage loans (exclusive of REO Loans) then included in the trust fund, (2) the aggregate fair market value of the trust fund’s portion of all REO Properties then included in the trust fund (which fair market value for any REO Property may be less than the Purchase Price for the corresponding REO Loan), as determined by an appraiser selected and mutually agreed upon by a Master Servicer and the Trustee plus the reasonable out of pocket expenses of that Master Servicer related to such purchase, unless that Master Servicer is the purchaser, and amounts owed under the A-MFL Swap Contract or the A-JFL Swap Contract, (3) if the 599 Lexington Avenue Mortgaged Property is an REO Property under the terms of the 2007-LDP10 Pooling and Servicing Agreement, the pro rata portion of the fair market value of the related property, as determined by the 599 Lexington Avenue Master Servicer in accordance with clause (2) above, and (4) if the AmeriCold Portfolio Mortgaged Property is an REO Property under the terms of the 2007-CIBC18 Pooling and Servicing Agreement, the pro rata portion of the fair market value of the related property, as determined by the AmeriCold Portfolio Primary Servicer in accordance with clause  (2) above. This purchase will effect early retirement of the then outstanding Offered Certificates, but the rights of the holders of the Controlling Class, the Special Servicer, the Master Servicers or the holders of the Class LR Certificates to effect the termination is subject to the requirement that the then aggregate Stated Principal Balance of the pool of mortgage loans be less than 1% of the Initial Pool Balance. The voluntary exchange of Certificates, including the Class X Certificates, for the remaining mortgage loans is not subject to the 1% limit but is limited to each Class of outstanding Certificates being held by one Certificateholder who must voluntarily participate.

On the final Distribution Date, the aggregate amount paid by the holders of the Controlling Class, the Special Servicer, the Master Servicers or the holders of the Class LR Certificates, as the case may be, for the mortgage loans and other assets in the trust fund (if the trust fund is to be terminated as a result of the purchase described in the preceding paragraph), together with all other amounts on deposit in the Certificate Account and not otherwise payable to a person other than the Certificateholders (see ‘‘Description of the Pooling Agreements—Certificate Account’’ in the prospectus), will be applied generally as described above under ‘‘—Distributions— Priority’’ in this free writing prospectus.

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Any optional termination by the holders of the Controlling Class, the Special Servicer, the Master Servicers or the holders of the Class LR Certificates would result in prepayment in full of the Certificates and would have an adverse effect on the yield of the Class X Certificates because a termination would have an effect similar to a principal prepayment in full of the mortgage loans and, as a result, investors in the Class X Certificates and any other Certificates purchased at premium might not fully recoup their initial investment. See ‘‘Yield and Maturity Considerations’’ in this free writing prospectus.

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Description of the Swap ContractS

The A-MFL Swap Contract

On the Closing Date, the Depositor will transfer the Class A-MFL Regular Interest to the trust in exchange for the Class A-MFL Certificates, which will represent all of the beneficial interest in the portion of the trust consisting of the Class A-MFL Regular Interest, the A-MFL Swap Contract and the A-MFL Floating Rate Account.

The Trustee, on behalf of the trust, will enter into an interest rate swap agreement related to the Class A-MFL Regular Interest (the ‘‘A-MFL Swap Contract’’), with JPMCB (the ‘‘Swap Counterparty’’). The A-MFL Swap Contract will have a maturity date of the Distribution Date on February 12, 2049 (the same date as the Rated Final Distribution Date of the Class A-MFL Certificates). The Paying Agent will make available to the Swap Counterparty the Statement to Certificateholders for each Distribution Date, which statement will include the LIBOR applicable to the related Interest Accrual Period. See ‘‘Description of the Certificates—Distributions’’ in this free writing prospectus. The Paying Agent will also calculate the amounts, if any, due from or payable to the Swap Counterparty under the A-MFL Swap Contract.

The A-MFL Significance Percentage with respect to the interest rate swap payments under the A-MFL Swap Contract is less than 10%. As used in the preceding sentence, ‘‘A-MFL Significance Percentage’’ refers to the percentage that the amount of the A-MFL Significance Estimate represents of the aggregate initial principal balance of the Class A-MFL Certificates. ‘‘A-MFL Significance Estimate’’ refers to the reasonable good-faith estimate of maximum probable exposure, made in substantially the same manner as that used in JPMCB’s internal risk management process in respect of similar instruments.

The Paying Agent may make withdrawals from the A-MFL Floating Rate Account only for the following purposes: (i) to distribute to the holders of the Class A-MFL Certificates the Class A-MFL Available Funds for any Distribution Date; (ii) to withdraw any amount deposited into the A-MFL Floating Rate Account that was not required to be deposited in such account; (iii) to pay any funds required to be paid to the Swap Counterparty under the A-MFL Swap Contract; and (iv) to clear and terminate the account pursuant to the terms of the Pooling and Servicing Agreement.

The A-MFL Swap Contract will provide that, so long as the A-MFL Swap Contract is in effect, (a) on each Distribution Date, commencing in July 2007, the Paying Agent will pay or cause to be paid to the Swap Counterparty (i) any Yield Maintenance Charges in respect of the Class A-MFL Regular Interest for the related Distribution Date and (ii) one month’s interest at the Pass-Through Rate applicable to the Class A-MFL Regular Interest accrued for the related Interest Accrual Period on the Certificate Balance of the Class A-MFL Certificates, and (b) on the business day before each Distribution Date, commencing in July 2007, the Swap Counterparty will pay to the Paying Agent, for the benefit of the Class A-MFL Certificateholders, one month’s interest at the Pass-Through Rate applicable to the Class A-MFL Certificates accrued for the related Interest Accrual Period on the Certificate Balance of the Class A-MFL Certificates. Such payments will be made on a net basis.

On any Distribution Date for which the funds allocated to payment of the Interest Distribution Amount of the Class A-MFL Regular Interest are insufficient to pay all amounts due to the Swap Counterparty under the A-MFL Swap Contract for such Distribution Date, the amounts payable by the Swap Counterparty to the trust under the A-MFL Swap Contract will be reduced, on a dollar-for-dollar basis, by the amount of such shortfall, and holders of the Class A-MFL Certificates will experience a shortfall in their anticipated yield.

If the Swap Counterparty’s long-term rating is not at least ‘‘A3’’ by Moody’s Investors Service, Inc., or at least ‘‘A−‘‘ by Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. (a ‘‘Rating Agency Trigger Event’’), the Swap Counterparty will be required to post collateral or find a replacement swap counterparty that would not cause another Rating Agency Trigger Event. In the event that the Swap Counterparty fails to either post acceptable

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collateral, fails to find an acceptable replacement swap counterparty under a Rating Agency Trigger Event, or if it fails to make a payment to the trust required under the A-MFL Swap Contract or an early termination date is designated under the A-MFL Swap Contract in accordance with its terms (each such event, a ‘‘A-MFL Swap Default’’), then the Paying Agent will be required, subject to the Trustee’s determination (or the Paying Agent’s determination on behalf of the Trustee) that costs of enforcement will be recoverable from or indemnified by the holders of the Class A-MFL Certificates, to take such actions (following the expiration of any applicable grace period), unless otherwise directed in writing by the holders of 25%, by Certificate Balance, of the Class A-MFL Certificates, to enforce the rights of the trust under the A-MFL Swap Contract as may be permitted by the terms of the A-MFL Swap Contract and the Pooling and Servicing Agreement and use any termination fees received from the Swap Counterparty (as described below under ‘‘—Termination Fees’’) to enter into a replacement interest rate swap contract on substantially identical terms. If the costs attributable to entering into a replacement interest rate swap contract would exceed the net proceeds of the liquidation of the A-MFL Swap Contract, a replacement interest rate swap contract will not be entered into and any such proceeds will instead be distributed to the holders of the Class A-MFL Certificates.

Any conversion to distributions equal to distributions on the Class A-MFL Regular Interest pursuant to a A-MFL Swap Default will become permanent following the determination by the Paying Agent or the holders of 25% of the Class A-MFL Certificates not to enter into a replacement interest rate swap contract and distribution of any termination payments to the holders of the Class A-MFL Certificates. Any such A-MFL Swap Default and the consequent conversion to distributions equal to distributions on the Class A-MFL Regular Interest will not constitute a default under the Pooling and Servicing Agreement. Any such conversion to distributions equal to distributions on the Class A-MFL Regular Interest might result in a temporary delay of payment of the distributions to the holders of the Class A-MFL Certificates if notice of the resulting change in payment terms of the Class A-MFL Certificates is not given to DTC within the time frame in advance of the Distribution Date that DTC requires to modify the payment.

The Paying Agent will have no obligation on behalf of the trust to pay or cause to be paid to the Swap Counterparty any portion of the amounts due to the Swap Counterparty under the A-MFL Swap Contract for any Distribution Date unless and until the related interest payment on the Class A-MFL Regular Interest for such Distribution Date is actually received by the Paying Agent.

Termination Fees.    In the event of the termination of the A-MFL Swap Contract and the failure of the Swap Counterparty to replace the A-MFL Swap Contract, the Swap Counterparty may be obligated to pay a termination fee to the trust generally designed to compensate the trust for the cost, if any, of entering into a substantially similar interest rate swap contract with another swap counterparty. If the termination fee is not used to pay for a replacement swap contract, then that termination fee will be distributed to the Class A-MFL Certificateholders.

The A-JFL Swap Contract

On the Closing Date, the Depositor will transfer the Class A-JFL Regular Interest to the trust in exchange for the Class A-JFL Certificates, which will represent all of the beneficial interest in the portion of the trust consisting of the Class A-JFL Regular Interest, the A-JFL Swap Contract and the A-JFL Floating Rate Account.

The Trustee, on behalf of the trust, will enter into an interest rate swap agreement related to the Class A-JFL Regular Interest (the ‘‘A-JFL Swap Contract’’), with JPMCB. The A-JFL Swap Contract will have a maturity date of the Distribution Date on February 12, 2049 (the same date as the Rated Final Distribution Date of the Class A-JFL Certificates). The Paying Agent will make available to the Swap Counterparty the Statement to Certificateholders for each Distribution Date, which statement will include the LIBOR applicable to the related Interest Accrual Period.

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See ‘‘Description of the Certificates—Distributions’’ in this free writing prospectus. The Paying Agent will also calculate the amounts, if any, due from or payable to the Swap Counterparty under the A-JFL Swap Contract.

The A-JFL Significance Percentage with respect to the interest rate swap payments under the A-JFL Swap Contract is less than 10%. As used in the preceding sentence, ‘‘A-JFL Significance Percentage’’ refers to the percentage that the amount of the A-JFL Significance Estimate represents of the aggregate initial principal balance of the Class A-JFL Certificates. ‘‘A-JFL Significance Estimate’’ refers to the reasonable good-faith estimate of maximum probable exposure, made in substantially the same manner as that used in JPMCB’s internal risk management process in respect of similar instruments.

The Paying Agent may make withdrawals from the A-JFL Floating Rate Account only for the following purposes: (i) to distribute to the holders of the Class A-JFL Certificates the Class A-JFL Available Funds for any Distribution Date; (ii) to withdraw any amount deposited into the A-JFL Floating Rate Account that was not required to be deposited in such account; (iii) to pay any funds required to be paid to the Swap Counterparty under the A-JFL Swap Contract; and (iv) to clear and terminate the account pursuant to the terms of the Pooling and Servicing Agreement.

The A-JFL Swap Contract will provide that, so long as the A-JFL Swap Contract is in effect, (a) on each Distribution Date, commencing in July 2007, the Paying Agent will pay or cause to be paid to the Swap Counterparty (i) any Yield Maintenance Charges in respect of the Class A-JFL Regular Interest for the related Distribution Date and (ii) one month’s interest at the Pass-Through Rate applicable to the Class A-JFL Regular Interest accrued for the related Interest Accrual Period on the Certificate Balance of the Class A-JFL Certificates, and (b) on the business day before each Distribution Date, commencing in July 2007, the Swap Counterparty will pay to the Paying Agent, for the benefit of the Class A-JFL Certificateholders, one month’s interest at the Pass-Through Rate applicable to the Class A-JFL Certificates accrued for the related Interest Accrual Period on the Certificate Balance of the Class A-JFL Certificates. Such payments will be made on a net basis.

On any Distribution Date for which the funds allocated to payment of the Interest Distribution Amount of the Class A-JFL Regular Interest are insufficient to pay all amounts due to the Swap Counterparty under the A-JFL Swap Contract for such Distribution Date, the amounts payable by the Swap Counterparty to the trust under the A-JFL Swap Contract will be reduced, on a dollar-for-dollar basis, by the amount of such shortfall, and holders of the Class A-JFL Certificates will experience a shortfall in their anticipated yield.

If a Rating Agency Trigger Event has occurred, the Swap Counterparty will be required to post collateral or find a replacement swap counterparty that would not cause another Rating Agency Trigger Event. In the event that the Swap Counterparty fails to either post acceptable collateral, fails to find an acceptable replacement swap counterparty under a Rating Agency Trigger Event, or if it fails to make a payment to the trust required under the A-JFL Swap Contract or an early termination date is designated under the A-JFL Swap Contract in accordance with its terms (each such event, a ‘‘A-JFL Swap Default’’), then the Paying Agent will be required, subject to the Trustee’s determination (or the Paying Agent’s determination on behalf of the Trustee) that costs of enforcement will be recoverable from or indemnified by the holders of the Class A-JFL Certificates, to take such actions (following the expiration of any applicable grace period), unless otherwise directed in writing by the holders of 25%, by Certificate Balance, of the Class A-JFL Certificates, to enforce the rights of the trust under the A-JFL Swap Contract as may be permitted by the terms of the A-JFL Swap Contract and the Pooling and Servicing Agreement and use any termination fees received from the Swap Counterparty (as described below under ‘‘—Termination Fees’’) to enter into a replacement interest rate swap contract on substantially identical terms. If the costs attributable to entering into a replacement interest rate swap contract would exceed the net proceeds of the liquidation of the A-JFL Swap Contract, a replacement interest rate swap contract will not be entered into and any such proceeds will instead be distributed to the holders of the Class A-JFL Certificates.

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Any conversion to distributions equal to distributions on the Class A-JFL Regular Interest pursuant to a A-JFL Swap Default will become permanent following the determination by the Paying Agent or the holders of 25% of the Class A-JFL Certificates not to enter into a replacement interest rate swap contract and distribution of any termination payments to the holders of the Class A-JFL Certificates. Any such A-JFL Swap Default and the consequent conversion to distributions equal to distributions on the Class A-JFL Regular Interest will not constitute a default under the Pooling and Servicing Agreement. Any such conversion to distributions equal to distributions on the Class A-JFL Regular Interest might result in a temporary delay of payment of the distributions to the holders of the Class A-JFL Certificates if notice of the resulting change in payment terms of the Class A-JFL Certificates is not given to DTC within the time frame in advance of the Distribution Date that DTC requires to modify the payment.

The Paying Agent will have no obligation on behalf of the trust to pay or cause to be paid to the Swap Counterparty any portion of the amounts due to the Swap Counterparty under the A-JFL Swap Contract for any Distribution Date unless and until the related interest payment on the Class A-JFL Regular Interest for such Distribution Date is actually received by the Paying Agent.

Termination Fees. In the event of the termination of the A-JFL Swap Contract and the failure of the Swap Counterparty to replace the A-JFL Swap Contract, the Swap Counterparty may be obligated to pay a termination fee to the trust generally designed to compensate the trust for the cost, if any, of entering into a substantially similar interest rate swap contract with another swap counterparty. If the termination fee is not used to pay for a replacement swap contract, then that termination fee will be distributed to the Class A-JFL Certificateholders.

The Swap Counterparty

JPMCB is the Swap Counterparty under the Swap Contracts. JPMCB is also a Mortgage Loan Seller and an affiliate of J.P. Morgan Chase Commercial Mortgage Securities Corp., which is the Depositor, and is an affiliate of J.P. Morgan Securities Inc., which is an underwriter.

JPMCB is a wholly-owned bank subsidiary of JPMorgan Chase & Co., a Delaware corporation. JPMCB is a commercial bank offering a wide range of banking services to its customers both domestically and internationally. It is chartered, and its business is subject to examination and regulation, by the Office of the Comptroller of the Currency, a bureau of the United States Department of the Treasury. It is a member of the Federal Reserve System and its deposits are insured by the Federal Deposit Insurance Corporation.

The long-term certificates of deposit of JPMCB are rated ‘‘Aaa’’ and ‘‘AA‘‘ by Moody’s and S&P, respectively, as of the date of this free writing prospectus.

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Servicing of the Mortgage Loans

General

The servicing of the mortgage loans (excluding the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) and any REO Properties will be governed by the Pooling and Servicing Agreement. The following summaries describe certain provisions of the Pooling and Servicing Agreement relating to the servicing and administration of the mortgage loans (excluding the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) and any REO Properties. The 599 Lexington Avenue Loan will be serviced in accordance with the 2007-LDP10 Pooling and Servicing Agreement by the 599 Lexington Avenue Master Servicer and the 599 Lexington Avenue Special Servicer and according to the servicing standards provided for in the 2007-LDP10 Pooling and Servicing Agreement, which require, among other things, that the 599 Lexington Avenue Master Servicer and 599 Lexington Avenue Special Servicer attempt to maximize recovery on all portions of the 599 Lexington Avenue Whole Loan. The AmeriCold Portfolio Loan will be serviced in accordance with the 2007-CIBC18 Pooling and Servicing Agreement by the AmeriCold Portfolio Primary Servicer and the AmeriCold Portfolio Special Servicer and according to the servicing standards provided for in the 2007-CIBC18 Pooling and Servicing Agreement, which require, among other things, that the AmeriCold Portfolio Primary Servicer and the AmeriCold Portfolio Special Servicer attempt to maximize recovery on all portions of the AmeriCold Portfolio Whole Loan. All references to ‘‘mortgage loans’’ in this section, ‘‘Servicing of the Mortgage Loans,’’ do not include the 599 Lexington Avenue Loan, the AmeriCold Portfolio Loan and any related REO Property unless otherwise specifically stated. The summaries do not purport to be complete and are subject, and qualified in their entirety by reference, to the provisions of the Pooling and Servicing Agreement. Reference is made to the prospectus for additional information regarding the terms of the Pooling and Servicing Agreement relating to the servicing and administration of the mortgage loans and any REO Properties, provided that the information in this free writing prospectus supersedes any contrary information set forth in the prospectus. See ‘‘Description of the Pooling Agreements’’ in the prospectus.

Each of the Master Servicers (directly or through one or more sub-servicers) and the Special Servicer (directly or through one or more sub-servicers) will be required to service and administer the mortgage loans (excluding the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) for which it is responsible. Each of the Master Servicers and the Special Servicer may delegate and/or assign some or all of its servicing obligations and duties with respect to some or all of the mortgage loans to one or more third-party sub-servicers (although the Master Servicers and Special Servicer, as applicable, will remain primarily responsible for the servicing of those mortgage loans). Notwithstanding the foregoing, the Special Servicer shall not enter into any sub-servicing agreement which provides for the performance by third parties of any or all of its obligations under the Pooling and Servicing Agreement, unless (i) the Special Servicer receives the consent of the Directing Certificateholder and (ii) the Special Servicer receives the written confirmation of Moody’s and S&P that such agreement will not cause the downgrade, withdrawal or qualification of any of the then current ratings assigned to any Class of Certificates.

Each Master Servicer and the Special Servicer will be required to service and administer the mortgage loans (excluding the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) for which it is responsible in accordance with applicable law, the terms of the Pooling and Servicing Agreement and the mortgage loan documents (and in the case of each AB Mortgage Loan or mezzanine loan, the terms of the related Intercreditor Agreement) and, to the extent consistent with the foregoing, in accordance with the applicable Servicing Standards. ‘‘Servicing Standards’’ means the General Servicing Standard or the Capmark Servicing Standard, as applicable. ‘‘General Servicing Standard’’ means, with respect to the Master Servicer (other than Capmark) or the Special Servicer, the higher of the following standards of care: (1) the same manner in which, and with the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and administers similar mortgage loans for other third-party

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portfolios, and (2) the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and administers commercial, multifamily and manufactured housing community mortgage loans owned by the Master Servicer or the Special Servicer, as the case may be, in either case, with a view to (x) in the case of the Master Servicer, the timely collection of scheduled payments of principal and interest on the mortgage loans, and (y) in the case of the Special Servicer, the maximization of recovery of principal and interest on a net present value basis on the Specially Serviced Mortgage Loans, as applicable, and, in either case, in the best interests of the trust and the Certificateholders (and in the case of each AB Mortgage Loan, the holder of the related AB Subordinate Companion Loan and the Certificateholders (as a collective whole)), as determined by the Master Servicer or the Special Servicer, as the case may be, in its reasonable judgment, in either case giving due consideration to the customary and usual standards of practice of prudent institutional, multifamily and commercial loan servicers but without regard to:

(A)    any relationship that the Master Servicer or the Special Servicer, or any of its affiliates may have with the related borrower or any borrower affiliate, any Mortgage Loan Seller or any other party to the Pooling and Servicing Agreement;

(B)    the ownership of any Certificate or, if applicable, mezzanine loan or AB Subordinate Companion Loan, by the Master Servicer or the Special Servicer or any of its affiliates, as the case may be;

(C)    the Master Servicer’s obligation to make Advances;

(D)    the Master Servicer’s or the Special Servicer’s right to receive compensation for its services under the Pooling and Servicing Agreement or with respect to any particular transaction;

(E)    the ownership, servicing or management for others of any other mortgage loans or mortgaged properties by the Master Servicer or the Special Servicer, as the case may be;

(F)    any option to purchase any mortgage loan or AB Subordinate Companion Loan it may have; and

(G)    any debt that the Master Servicer or the Special Servicer or any of its affiliates, as the case may be, has extended to any borrower or any of their affiliates.

‘‘Capmark Servicing Standard’’ means, with respect to Capmark, (1) with the same skill, care and diligence as is normal and usual in its mortgage servicing activities on behalf of third parties or on behalf of itself, whichever is higher, with respect to mortgage loans that are comparable to the mortgage loans it is servicing under the Pooling and Servicing Agreement, (2) with a view to the timely collection of all scheduled payments of principal and interest under the mortgage loans and (3) without regard to:

(A)    any relationship that the Master Servicer or any of its affiliates, as the case may be, may have with the related borrower;

(B)    the ownership of any Certificate or, if applicable, mezzanine loan or AB Subordinate Companion Loan, by the Master Servicer or any of its affiliates, as the case may be;

(C)    the Master Servicer’s obligation to make Advances; and

(D)    the right of the Master Servicer to receive compensation payable to it under the Pooling and Servicing Agreement or with respect to any particular transaction.

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Except as otherwise described under ‘‘—Inspections; Collection of Operating Information’’ below, each Master Servicer will be responsible initially for the servicing and administration of the entire pool of mortgage loans (including each AB Mortgage Loan, but excluding the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan). Each Master Servicer will be required to transfer its servicing responsibilities to the Special Servicer with respect to any mortgage loan (including any related AB Subordinate Companion Loan):

(1)    as to which a payment default has occurred at its original maturity date, or, if the original maturity date has been extended, at its extended maturity date; or in the case of a balloon payment, such payment is delinquent and the related borrower has not provided the applicable Master Servicer (who shall promptly notify the Special Servicer and the Directing Certificateholder of such delinquency) on or prior to the related maturity date (or, with respect to a mortgage loan where the borrower continues to make its Assumed Scheduled Payment and diligently pursues financing and the Directing Certificateholder consents, prior to the 60th day after the related maturity date) with a bona fide written commitment for refinancing reasonably satisfactory in form and substance to the applicable Master Servicer, which provides that such refinancing will occur within 120 days of such related maturity date, provided that if such refinancing does not occur within such period, the related mortgage loan will become a Specially Serviced Mortgage Loan at the end of the 120-day period (or at the end of any shorter period beyond the date on which that balloon payment was due within which the refinancing is scheduled to occur or immediately if the related borrower fails to diligently pursue such financing or to pay any Assumed Scheduled Payment on the related due date at any time before the refinancing);

(2)    as to which any Periodic Payment (other than a balloon payment or other payment due at maturity) is more than 60 days delinquent (unless, prior to such Periodic Payment becoming more than 60 days delinquent, in the case of each AB Mortgage Loan or mortgage loan with mezzanine debt, the holder of the related AB Subordinate Companion Loan or mezzanine loan cures such delinquency);

(3)    as to which the borrower has entered into or consented to bankruptcy, appointment of a receiver or conservator or a similar insolvency proceeding, or the borrower has become the subject of a decree or order for that proceeding (provided that if the appointment, decree or order is stayed or discharged, or the case dismissed within 60 days that mortgage loan will not be considered a Specially Serviced Mortgage Loan during that period), or the related borrower has admitted in writing its inability to pay its debts generally as they become due;

(4)    as to which the applicable Master Servicer or the Special Servicer has received notice of the foreclosure or proposed foreclosure of any lien other than the Mortgage on the Mortgaged Property;

(5)    as to which, in the judgment of the applicable Master Servicer or the Special Servicer (in the case of the Special Servicer, with the consent of the Directing Certificateholder), as applicable, a payment default is imminent and is not likely to be cured by the borrower within 60 days;

(6)    as to which a default that the applicable Master Servicer or the Special Servicer has notice (other than a failure by the related borrower to pay principal or interest) and which the applicable Master Servicer or Special Servicer (in the case of the Special Servicer with the consent of the Directing Certificateholder) determines, in its good faith reasonable judgment, may materially and adversely affect the interests of the Certificateholders (or, with respect to each AB Mortgage Loan, the interests of the Certificateholders and the holder of the related AB Subordinate Companion Loan, in each case as a collective whole) has occurred and remains unremediated for the applicable grace period specified in the mortgage loan documents, other than in certain circumstances the failure to maintain terrorism insurance if such failure constitutes an Acceptable Insurance Default (or if no grace period is specified for events of default which are capable of cure, 60 days); or

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(7)    as to which the applicable Master Servicer or the Special Servicer (in the case of the Special Servicer, with the consent of the Directing Certificateholder) determines that (i) a default (other than as described in clause (5) above) under the mortgage loan is imminent, (ii) such default will materially impair the value of the corresponding Mortgaged Property as security for the mortgage loan or otherwise materially adversely affect the interests of Certificateholders (or, with respect to each AB Mortgage Loan, the interests of Certificateholders and the holder of the related AB Subordinate Companion Loan, in each case as a collective whole), and (iii) the default will continue unremedied for the applicable cure period under the terms of the mortgage loan or, if no cure period is specified and the default is capable of being cured, for 30-days (provided that such 30-day grace period does not apply to a default that gives rise to immediate acceleration without application of a grace period under the terms of the mortgage loan); provided, that any determination that a special servicing transfer event has occurred under this clause (7) with respect to any mortgage loan solely by reason of the failure (or imminent failure) of the related borrower to maintain or cause to be maintained insurance coverage against damages or losses arising from acts of terrorism may only be made by the Special Servicer (with the consent of the Directing Certificateholder) as described under ‘‘—Maintenance of Insurance’’ below.

However, the applicable Master Servicer will be required to continue to (w) receive payments on the mortgage loan (including amounts collected by the Special Servicer), (x) make certain calculations with respect to the mortgage loan, (y) make remittances and prepare certain reports to the Certificateholders with respect to the mortgage loan and (z) receive the Servicing Fee in respect of the mortgage loan at the Servicing Fee Rate. If the related Mortgaged Property is acquired in respect of any mortgage loan (upon acquisition, an ‘‘REO Property’’) whether through foreclosure, deed-in-lieu of foreclosure or otherwise, the Special Servicer will continue to be responsible for its operation and management. The mortgage loans (including any AB Subordinate Companion Loans, but not including the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) serviced by the Special Servicer and any mortgage loans (including any AB Subordinate Companion Loans, but not including the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) that have become REO Properties are referred to in this free writing prospectus as the ‘‘Specially Serviced Mortgage Loans.’’ If any of the AB Subordinate Companion Loans becomes specially serviced, then the related AB Mortgage Loan, as applicable, will become a Specially Serviced Mortgage Loan. If any AB Mortgage Loan becomes a Specially Serviced Mortgage Loan, then the related AB Subordinate Companion Loan will become a Specially Serviced Mortgage Loan. The Master Servicers will have no responsibility for the performance by the Special Servicer of its duties under the Pooling and Servicing Agreement. Any mortgage loan that is cross-collateralized with a Specially Serviced Mortgage Loan will become a Specially Serviced Mortgage Loan.

If any Specially Serviced Mortgage Loan, in accordance with its original terms or as modified in accordance with the Pooling and Servicing Agreement, becomes performing for at least 3 consecutive Periodic Payments (provided, that no additional event of default is foreseeable in the reasonable judgment of the Special Servicer), the Special Servicer will be required to return servicing of that mortgage loan (a ‘‘Corrected Mortgage Loan’’) to the applicable Master Servicer.

The Special Servicer will be required to prepare a report (an ‘‘Asset Status Report’’) for each mortgage loan (other than the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) that becomes a Specially Serviced Mortgage Loan not later than 60 days after the servicing of such mortgage loan is transferred to the Special Servicer. Each Asset Status Report will be required to be delivered to the Directing Certificateholder, the applicable Master Servicer, the Trustee (upon request), the Paying Agent and each Rating Agency. If the Directing Certificateholder does not disapprove an Asset Status Report within ten business days, the Special Servicer will be required to implement the recommended action as outlined in the Asset Status Report. The Directing Certificateholder may object to any Asset Status Report within ten business days of receipt; provided, however, that the Special Servicer will be required to implement the recommended action as outlined in the Asset Status Report if it makes a determination in

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accordance with the Servicing Standards that the objection is not in the best interest of all the Certificateholders. If the Directing Certificateholder disapproves the Asset Status Report and the Special Servicer has not made the affirmative determination described above, the Special Servicer will be required to revise the Asset Status Report as soon as practicable thereafter, but in no event later than 30-days after the disapproval. The Special Servicer will be required to revise the Asset Status Report until the Directing Certificateholder fails to disapprove the revised Asset Status Report as described above or until the Special Servicer makes a determination that the objection is not in the best interests of the Certificateholders; provided, however, in the event that the Directing Certificateholder and the Special Servicer have not agreed upon an Asset Status Report with respect to a Specially Serviced Mortgage Loan within 90 days of the Directing Certificateholder’s receipt of the initial Asset Status Report with respect to such Specially Serviced Mortgage Loan, the Special Servicer will implement the actions described in the most recent Asset Status Report submitted to the Directing Certificateholder by the Special Servicer. Each final Asset Status Report will be required to be delivered to the applicable Master Servicer, the Trustee (upon request) and each Rating Agency.

The Directing Certificateholder

The Directing Certificateholder will be entitled to advise (1) the Special Servicer, with respect to all Specially Serviced Mortgage Loans, (2) the Special Servicer, with respect to non-Specially Serviced Mortgage Loans, as to all matters for which Master Servicers must obtain the consent or deemed consent of the Special Servicer, and (3) the Special Servicer, with respect to all mortgage loans for which an extension of maturity is being considered by the Special Servicer or by the Master Servicers, subject to consent or deemed consent of the Special Servicer. Except as otherwise described in the succeeding paragraphs below, both (a) the Master Servicers will not be permitted to take any of the following actions unless it has obtained the consent of the Special Servicer (which will be deemed to have been granted if the Special Servicer does not respond within a specified number of days following a Master Servicer’s delivery of certain notice and other information) and (b) the Special Servicer will not be permitted to consent to a Master Servicer’s taking any of the following actions, nor will the Special Servicer itself be permitted to take any of the following actions, as to which the Directing Certificateholder has objected in writing within ten business days of having been notified of the proposed action (provided, that if such written objection has not been received by the Special Servicer, as applicable, within the ten day period, the Directing Certificateholder will be deemed to have approved such action):

(i)    any proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property) of the ownership of properties securing such of the mortgage loans as come into and continue in default;

(ii)    any modification, consent to a modification or waiver of any monetary term (other than late fees and default interest) or material non-monetary term (including, without limitation, the timing of payments and acceptance of discounted payoffs) of a mortgage loan or any extension of the maturity date of such mortgage loan;

(iii)    any sale of a defaulted mortgage loan or REO Property (other than in connection with the termination of the trust as described under ‘‘Description of the Certificates—Termination; Retirement of Certificates’’ in this free writing prospectus) for less than the applicable Purchase Price (other than in connection with the exercise of the Purchase Option described under ‘‘—Realization Upon Defaulted Mortgage Loans’’ below);

(iv)    any determination to bring an REO Property into compliance with applicable environmental laws or to otherwise address hazardous material located at an REO Property;

(v)    any release of collateral or any acceptance of substitute or additional collateral for a mortgage loan or any consent to either of the foregoing, other than if required pursuant to the specific terms of the related mortgage loan and for which there is no material lender discretion;

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(vi)    any waiver of a ‘‘due-on-sale’’ or ‘‘due-on-encumbrance’’ clause with respect to a mortgage loan or any consent to such a waiver or consent to a transfer of the Mortgaged Property or interests in the borrower or consent to the incurrence of additional debt;

(vii)    any property management company changes (with respect to a mortgage loan with a principal balance greater than $2,500,000) or franchise changes for which the lender is required to consent or approve under the mortgage loan documents;

(viii)    releases of any escrow accounts, reserve accounts or letters of credit held as performance escrows or reserves, other than those required pursuant to the specific terms of the related mortgage loan and for which there is no material lender discretion;

(ix)    any acceptance of an assumption agreement releasing a borrower from liability under a mortgage loan other than pursuant to the specific terms of such mortgage loan; and

(x)    any determination by the Special Servicer of an Acceptable Insurance Default;

provided, that in the event that a Master Servicer or the Special Servicer determines that immediate action is necessary to protect the interests of the Certificateholders (as a collective whole), that Master Servicer or the Special Servicer, as the case may be, may take any such action without waiting for the Directing Certificateholder’s response.

In addition, the Directing Certificateholder may direct the Special Servicer to take, or to refrain from taking, other actions with respect to a mortgage loan, as the Directing Certificateholder may reasonably deem advisable; provided, that the Special Servicer will not be required to take or refrain from taking any action pursuant to instructions or objections from the Directing Certificateholder that would cause it to violate applicable law, the related mortgage loan documents, the Pooling and Servicing Agreement, including the Servicing Standards, or the REMIC Provisions (and, with respect to any AB Mortgage Loan, subject to the rights of the holder of the related AB Subordinate Companion Loan as described under ‘‘Description of the Mortgage Pool—AB Mortgage Loan Pairs’’ in this free writing prospectus).

With respect to the 599 Lexington Avenue Whole Loan, the Directing Certificateholder will not be entitled to exercise the above-described rights, but such rights will be exercisable by the 599 Lexington Avenue Majority Holders, provided, nothing precludes the Directing Certificateholder from consulting with the 599 Lexington Avenue Special Servicer, regardless of whether the 599 Lexington Avenue Majority Holders are entitled to exercise such rights. See ‘‘Description of the Mortgage Pool—The 599 Lexington Avenue Whole Loan’’ in this free writing prospectus.

With respect to the AmeriCold Portfolio Whole Loan, the Directing Certificateholder will not be entitled to exercise the above-described rights, but such rights will be exercisable by the AmeriCold Portfolio Directing Certificateholder, provided, nothing precludes the Directing Certificateholder from consulting with the AmeriCold Portfolio Special Servicer, regardless of whether the AmeriCold Portfolio Directing Certificateholder is entitled to exercise such rights. See ‘‘Description of the Mortgage Pool—The AmeriCold Portfolio Whole Loan’’ in this free writing prospectus.

The ‘‘Directing Certificateholder’’ will be the Controlling Class Certificateholder selected by more than 50% of the Controlling Class Certificateholders, by Certificate Balance, as certified by the Certificate Registrar from time to time; provided, however, that (1) absent that selection, or (2) until a Directing Certificateholder is so selected or (3) upon receipt of a notice from a majority of the Controlling Class Certificateholders, by Certificate Balance, that a Directing Certificateholder is no longer designated, the Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class will be the Directing Certificateholder; provided, further, however, that the Controlling Class Certificateholder selected to serve as the Directing Certificateholder may appoint an entity to act on its behalf as the Directing Certificateholder. The initial Directing Certificateholder will be Presidio Investments, Ltd.

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A ‘‘Controlling Class Certificateholder’’ is each holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as certified to the Certificate Registrar from time to time by the holder (or Certificate Owner).

The ‘‘Controlling Class’’ will be as of any time of determination the most subordinate Class of Certificates (other than the Class X Certificates) then outstanding that has a Certificate Balance at least equal to 25% of the initial Certificate Balance of that Class. For purposes of determining the identity of the Controlling Class, the Certificate Balance of each Class will not be reduced by the amount allocated to that Class of any Appraisal Reductions. The Controlling Class as of the Closing Date will be the Class NR Certificates.

Neither the Master Servicers nor the Special Servicer will be required to take or to refrain from taking any action pursuant to instructions from the Directing Certificateholder, or any failure to approve an action by or objection of the Directing Certificateholder, that would cause either the Master Servicers or the Special Servicer to violate applicable law, the related loan documents, the Pooling and Servicing Agreement (including the Servicing Standards), or the REMIC Provisions.

The Master Servicers and the Special Servicer may resign under the Pooling and Servicing Agreement at any time if continuing to perform their respective servicing duties would cause it to be in violation of any applicable law. The Master Servicers may generally resign at any time so long as it provides a replacement meeting the requirements in the Pooling and Servicing Agreement and that is otherwise acceptable to the Rating Agencies. The Special Servicer may generally be replaced at any time by the Directing Certificateholder so long as, among other things, those Certificateholders provide or the Directing Certificateholder provides, as applicable, a replacement that is acceptable to the Rating Agencies. Additionally, either of the Master Servicers or the Special Servicer, as applicable, may be replaced by the Trustee, or Certificateholders representing at least 51% of Voting Rights in the event that an event of default under the Pooling and Servicing Agreement occurs with respect to such entity. In the event that either a Master Servicer or the Special Servicer resigns or is replaced and no replacement is otherwise provided for, the Trustee is required to immediately take the place of such resigning Master Servicer and the applicable Master Servicer is required to immediately take the place of such resigning Special Servicer unless the Trustee or the applicable Master Servicer, as the case may be, is prohibited by any applicable law from serving in such capacity. The Certificateholders will receive notification from the Trustee or the applicable Master Servicer, as the case may be, in any case in which a Master Servicer or Special Servicer resigns or is replaced.

Limitation on Liability of Directing Certificateholder

The Directing Certificateholder (and, with respect to the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, and, with respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder) will not be liable to the trust fund or the Certificateholders for any action taken, or for refraining from the taking of any action for errors in judgment. However, the Directing Certificateholder (and, with respect to the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, and, with respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder) will not be protected against any liability to the Controlling Class Certificateholders that would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations or duties.

Each Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that the Directing Certificateholder (and, with respect to the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, and, with respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder):

(a)    may have special relationships and interests that conflict with those of holders of one or more Classes of Certificates,

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(b)    may act solely in the interests of the holders of the Controlling Class (or, with respect to the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, or, with respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder),

(c)    does not have any liability or duties to the holders of any Class of Certificates other than the Controlling Class (or, with respect to the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, or, with respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder), and

(d)    may take actions that favor the interests of the holders of the Controlling Class (or, with respect to the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, or, with respect to the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder) over the interests of the holders of one or more other Classes of Certificates.

The taking of, or refraining from taking, any action by the Master Servicers or the Special Servicer in accordance with the direction of or approval of the Directing Certificateholder, which does not violate any law or the accepted servicing practices or the provisions of the Pooling and Servicing Agreement, will not result in any liability on the part of the Master Servicers or the Special Servicer.

Generally, the holders of the AB Subordinate Companion Loans and their designees will have limitations on liability with respect to actions taken in connection with the related AB Mortgage Loan similar to the limitations of the Directing Certificateholder described above.

Maintenance of Insurance

To the extent permitted by the related mortgage loan and required by the Servicing Standards, the Master Servicers (with respect to the mortgage loans and the Specially Serviced Mortgage Loans, but excluding the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) or the Special Servicer (with respect to REO Properties other than the 599 Lexington Avenue Mortgaged Property and the AmeriCold Portfolio Mortgaged Property) will be required to use efforts consistent with the Servicing Standards (other than with respect to the 599 Lexington Avenue Loan, which is serviced under the 2007-LDP10 Pooling and Servicing Agreement, and other than with respect to the AmeriCold Portfolio Loan, which is serviced under the 2007-CIBC18 Pooling and Servicing Agreement) to cause each borrower to maintain for the related Mortgaged Property all insurance coverage required by the terms of the mortgage loan documents, except to the extent that the failure of the related borrower to do so is an Acceptable Insurance Default (as defined below). This insurance coverage is required to be in the amounts, and from an insurer meeting the requirements, set forth in the related mortgage loan documents. If the borrower does not maintain such coverage, subject to its recoverability determination with respect to any required Servicing Advance, the applicable Master Servicer (with respect to mortgage loans) or the Special Servicer (with respect to REO Properties other than the 599 Lexington Avenue Mortgaged Property and the AmeriCold Portfolio Mortgaged Property) will be required to maintain such coverage to the extent such coverage is available at commercially reasonable rates and the Trustee has an insurable interest, as determined by the applicable Master Servicer in accordance with the Servicing Standards; provided, that the applicable Master Servicer will be obligated to use reasonable efforts to cause the borrower to maintain (or to itself maintain) insurance against property damage resulting from terrorist or similar acts unless the borrower’s failure is an Acceptable Insurance Default as determined by the Special Servicer; provided, further, that the applicable Master Servicer will not itself be required to maintain any insurance coverage with respect to a Mortgaged Property that is not available at commercially reasonable rates (and the Special Servicer will have the right to consent to any such determination) or as to which the Trustee, as mortgagee, does not have an insurable interest. The coverage described in the immediately preceding sentence will be in an amount that is not less than the lesser of the full replacement cost of the improvements securing that mortgage loan or

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the outstanding principal balance owing on that mortgage loan, but in any event, in an amount sufficient to avoid the application of any co-insurance clause unless otherwise noted in the related mortgage loan documents. Notwithstanding any contrary provision above, the Master Servicers will not be required to maintain, and will not be in default for failing to obtain, any earthquake or environmental insurance on any Mortgaged Property unless such insurance was in effect at the time of origination of the related mortgage loan or the date of original issuance of the Certificates and is available at commercially reasonable rates. In addition, the applicable Master Servicer will be entitled to rely on insurance consultants (at the applicable Master Servicer’s expense) in determining whether any insurance is available at commercially reasonable rates. After the applicable Master Servicer determines that a Mortgaged Property is located in an area identified as a federally designated special flood hazard area (and flood insurance has been made available), the applicable Master Servicer will be required to use efforts consistent with the Servicing Standards to (1) cause each borrower to maintain (to the extent required by the related mortgage loan documents), and if the borrower does not so maintain, will be required to (2) itself maintain to the extent the Trustee, as mortgagee, has an insurable interest in the Mortgaged Property and is available at commercially reasonable rates (as determined by the applicable Master Servicer in accordance with the Servicing Standards) a flood insurance policy in an amount representing coverage not less than the lesser of (1) the outstanding principal balance of the related mortgage loan and (2) the maximum amount of insurance which is available under the National Flood Insurance Act of 1968, as amended, but only to the extent that the related mortgage loan permits the lender to require the coverage and maintaining coverage is consistent with the Servicing Standards. The Directing Certificateholder shall have no liability with respect to that determination.

Notwithstanding the foregoing, with respect to the mortgage loans that either (x) require the borrower to maintain ‘‘all risk’’ property insurance (and do not expressly permit an exclusion for terrorism) or (y) contain provisions generally requiring the applicable borrower to maintain insurance in types and against such risks as the holder of such mortgage loan reasonably requires from time to time in order to protect its interests, the applicable Master Servicer will be required to, consistent with the Servicing Standards, (A) actively monitor whether the insurance policies for the related Mortgaged Property contain exclusions in addition to those customarily found in insurance policies prior to September 11, 2001 (‘‘Additional Exclusions’’), (B) request the borrower to either purchase insurance against the risks specified in the Additional Exclusions or provide an explanation as to its reasons for failing to purchase such insurance, and (C) notify the Special Servicer if it has knowledge that any insurance policy contains Additional Exclusions or if it has knowledge that any borrower fails to purchase the insurance requested to be purchased by the applicable Master Servicer pursuant to clause (B) above. If the Special Servicer determines in accordance with the Servicing Standards that such failure is not an Acceptable Insurance Default, the Special Servicer will be required to notify the applicable Master Servicer and that Master Servicer will be required to use efforts consistent with the Servicing Standard to cause the borrower to maintain such insurance to be maintained. If the Special Servicer determines that such failure is an Acceptable Insurance Default, it will be required to inform each Rating Agency as to such conclusions for those mortgage loans that (i) have one of the ten (10) highest outstanding principal balances of the mortgage loans then included in the trust or (ii) comprise more than 5% of the outstanding principal balance of the mortgage loans then included in the trust.

‘‘Acceptable Insurance Default’’ means, with respect to any mortgage loan (other than a mortgage loan that expressly requires the borrower to maintain insurance coverage for acts of terrorism (or that expressly requires the borrower to maintain insurance coverage for acts of terrorism but limits the amounts that must be spent by the borrower for the related premium), a default under the related mortgage loan documents arising by reason of (i) any failure on the part of the related borrower to maintain with respect to the related mortgaged real property specific insurance coverage with respect to, or an all-risk casualty insurance policy that does not specifically exclude, terrorist or similar acts, and/or (ii) any failure on the part of the related

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borrower to maintain with respect to the related mortgaged real property, insurance coverage with respect to damages or casualties caused by terrorist or similar acts upon terms not materially less favorable than those in place as of the Closing Date, in each case, as to which default the applicable Master Servicer and the Special Servicer may forbear taking any enforcement action; provided, that the Special Servicer has determined in its reasonable judgment based on inquiry consistent with the Servicing Standards and with the consent of the Directing Certificateholder (or, with respect to the 599 Lexington Avenue Whole Loan, subject to the consent of the 599 Lexington Avenue Majority Holders, or, with respect to the AmeriCold Portfolio Whole Loan, subject to the consent of the AmeriCold Portfolio Directing Certificateholder), that either (a) such insurance is not available at commercially reasonable rates and that such hazards are not at the time commonly insured against for properties similar to the related mortgaged real property and located in or around the region in which such related mortgaged real property is located, or (b) such insurance is not available at any rate; provided, however, the Directing Certificateholder (and, in the case of the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, and, in the case of the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder) will not have more than 30-days to respond to the Special Servicer’s request for such consent; provided, further, that upon the Special Servicer’s determination, consistent with the Servicing Standards, that exigent circumstances do not allow the Special Servicer to consult with the Directing Certificateholder (or, in the case of the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, or, in the case of the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder), the Special Servicer will not be required to do so. The Special Servicer shall be entitled to rely on insurance consultants in making the determinations described above and the cost of such consultants shall be paid from the Certificate Account as a Servicing Advance.

During the period that the Special Servicer is evaluating the availability of such insurance, or waiting for a response from the Directing Certificateholder, none of the Master Servicers, the Special Servicer or the Directing Certificateholder will be liable for any loss related to its failure to require the borrower to maintain (or to itself maintain) such insurance and neither will be in default of its obligations as a result of such failure.

The Special Servicer will be required to maintain (or cause to be maintained), fire and hazard insurance on each REO Property (other than any REO Property with respect to the 599 Lexington Avenue Loan, which is serviced under the 2007-LDP10 Pooling and Servicing Agreement, and with respect to the AmeriCold Portfolio Loan, which is serviced under the 2007-CIBC18 Pooling and Servicing Agreement), to the extent obtainable at commercially reasonable rates, in an amount that is at least equal to the lesser of (1) the full replacement cost of the improvements on the REO Property, or (2) the outstanding principal balance owing on the related mortgage loan, and in any event, the amount necessary to avoid the operation of any co-insurance provisions. In addition, if the REO Property is located in an area identified as a federally designated special flood hazard area, the Special Servicer will be required to cause to be maintained, to the extent available at commercially reasonable rates (as determined by the Special Servicer in accordance with the Servicing Standards), a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration in an amount representing coverage not less than the maximum amount of insurance that is available under the National Flood Insurance Act of 1968, as amended.

The Pooling and Servicing Agreement provides that the Master Servicers and the Special Servicer may satisfy their respective obligations to cause each borrower to maintain a hazard insurance policy by maintaining a blanket or master single interest or force-placed policy insuring against hazard losses on the mortgage loans and REO Properties. Any losses incurred with respect to mortgage loans or REO Properties due to uninsured risks (including earthquakes, mudflows and floods) or insufficient hazard insurance proceeds may adversely affect payments to Certificateholders. Any cost incurred by the Master Servicers or Special Servicer in maintaining a hazard insurance policy, if the borrower defaults on its obligation to do so, will be advanced by the applicable Master Servicer as a Servicing Advance and will be charged to the related

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borrower. Generally, no borrower is required by the mortgage loan documents to maintain earthquake insurance on any Mortgaged Property and the Special Servicer will not be required to maintain earthquake insurance on any REO Properties. Any cost of maintaining that kind of required insurance or other earthquake insurance obtained by the Special Servicer will be paid out of a segregated custodial account created and maintained by the Special Servicer on behalf of the Trustee in trust for the Certificateholders (the ‘‘REO Account’’) or advanced by the applicable Master Servicer as a Servicing Advance.

The costs of the insurance may be recovered by the applicable Master Servicer or Trustee, as the case may be, from reimbursements received from the borrower or, if the borrower does not pay those amounts, as a Servicing Advance as set forth in the Pooling and Servicing Agreement. All costs and expenses incurred by the Special Servicer in maintaining the insurance described above on REO Properties will be paid out of the related REO Account or, if the amount in such account is insufficient, such costs and expenses will be advanced by the applicable Master Servicer to the Special Servicer as a Servicing Advance to the extent that such Servicing Advance is not determined to be a Nonrecoverable Advance.

No pool insurance policy, special hazard insurance policy, bankruptcy bond, repurchase bond or certificate guarantee insurance will be maintained with respect to the mortgage loans, nor will any mortgage loan be subject to FHA insurance.

Modifications, Waiver and Amendments

Except as otherwise set forth in this paragraph, the Special Servicer (or, with respect to non-material modifications, waivers and amendments, the applicable Master Servicer) may not waive, modify or amend (or consent to waive, modify or amend) any provision of a mortgage loan that is not in default or as to which default is not reasonably foreseeable except for (1) the waiver of any due-on-sale clause or due-on-encumbrance clause to the extent permitted in the Pooling and Servicing Agreement, and (2) any waiver, modification or amendment more than three months after the Closing Date that would not be a ‘‘significant modification’’ of the mortgage loan within the meaning of Treasury Regulations Section 1.860G-2(b). The Master Servicers will not be permitted under the Pooling and Servicing Agreement to agree to any modifications, waivers and amendments without the consent of the Special Servicer except certain non-material consents and waivers described in the Pooling and Servicing Agreement. The Special Servicer will have the sole authority (but may be required under the Pooling and Servicing Agreement to take direction from and obtain the approval of the Directing Certificateholder) to approve any assumptions, transfers of interest, material modifications, management company changes, franchise affiliation changes, releases of performance escrows, additional indebtedness, due-on-sale or due-on-encumbrance provisions with respect to all mortgage loans (other than non-material modifications, waivers and amendments).

If, and only if, the Special Servicer determines that a modification, waiver or amendment (including the forgiveness or deferral of interest or principal or the substitution or release of collateral or the pledge of additional collateral) of the terms of a Specially Serviced Mortgage Loan with respect to which a payment default or other material default has occurred or a payment default or other material default is, in the Special Servicer’s judgment, reasonably foreseeable, is reasonably likely to produce a greater recovery on a net present value basis (the relevant discounting to be performed at the related Mortgage Rate) than liquidation of the Specially Serviced Mortgage Loan, then the Special Servicer may, but is not required to, agree to a modification, waiver or amendment of the Specially Serviced Mortgage Loan, subject to the restrictions and limitations described below (and with respect to each AB Mortgage Loan, subject to any rights of the holder of the related AB Subordinate Companion Loan to consent to such modification, waiver or amendment).

The Special Servicer is required to use its reasonable efforts to the extent reasonably possible to fully amortize a modified mortgage loan prior to the Rated Final Distribution Date. The Special Servicer may not agree to a modification, waiver or amendment of any term of any Specially Serviced Mortgage Loan if that modification, waiver or amendment would:

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(1)    extend the maturity date of the Specially Serviced Mortgage Loan to a date occurring later than the earlier of (A) two years prior to the Rated Final Distribution Date and (B) if the Specially Serviced Mortgage Loan is secured by a leasehold estate and not the related fee interest, the date twenty years or, to the extent consistent with the Servicing Standards, giving due consideration to the remaining term of the ground lease, ten years, prior to the end of the current term of the ground lease, plus any unilateral options to extend; or

(2)    provide for the deferral of interest unless (A) interest accrues on the mortgage loan, generally, at the related Mortgage Rate and (B) the aggregate amount of deferred interest does not exceed 10% of the unpaid principal balance of the Specially Serviced Mortgage Loan.

In the event of a modification that creates a deferral of interest on a mortgage loan and a capitalization of such interest deferral, the Pooling and Servicing Agreement will provide that the amount of deferred interest will be allocated to reduce the Distributable Certificate Interest of the Class or Classes of Certificates (other than the Class A-MFL Certificates, Class A-JFL Certificates, Class X Certificates and Residual Certificates) and Class A-MFL and Class A-JFL Regular Interests with the latest sequential designation then outstanding, and to the extent so allocated, will be added to the Certificate Balance of the Class or Classes.

The Special Servicer or the applicable Master Servicer, as the case may be, will be required to notify each other, the Directing Certificateholder (and, in the case of the 599 Lexington Avenue Whole Loan, the 599 Lexington Avenue Majority Holders, and, in the case of the AmeriCold Portfolio Whole Loan, the AmeriCold Portfolio Directing Certificateholder), the applicable Mortgage Loan Seller, each Rating Agency, the Paying Agent and the Trustee of any modification, waiver or amendment of any term of any mortgage loan and will be required to deliver to the Trustee for deposit in the related mortgage file, an original counterpart of the agreement related to the modification, waiver or amendment, promptly following the execution of that agreement, with a copy to the applicable Master Servicer, all as set forth in the Pooling and Servicing Agreement. Copies of each agreement whereby the modification, waiver or amendment of any term of any mortgage loan is effected are required to be available for review during normal business hours at the offices of the Trustee. See ‘‘Description of the Certificates—Reports to Certificateholders; Certain Available Information’’ in this free writing prospectus.

The modification, waiver or amendment of each AB Mortgage Loan is subject to certain limitations set forth in the related AB Mortgage Loan documents and the related Intercreditor Agreement.

Any modification, extension, waiver or amendment of the payment terms of the 599 Lexington Avenue Whole Loan will be required to be structured so as to be consistent with the allocation and payment priorities in the related loan documents and the 599 Lexington Avenue Intercreditor Agreement, such that neither the trust as holder of the 599 Lexington Avenue Loan nor any holder of any 599 Lexington Avenue Pari Passu Companion Loan gain priority over the other holder that is not reflected in the related loan documents and the 599 Lexington Avenue Intercreditor Agreement.

Any modification, extension, waiver or amendment of the payment terms of the AmeriCold Portfolio Whole Loan will be required to be structured so as to be consistent with the allocation and payment priorities in the related loan documents and the AmeriCold Portfolio Intercreditor Agreement, such that neither the trust as holder of the AmeriCold Portfolio Loan nor any holder of any AmeriCold Portfolio Pari Passu Companion Loan gains a priority over the other holders that is not reflected in the related loan documents and the AmeriCold Portfolio Intercreditor Agreement.

Realization Upon Defaulted Mortgage Loans

Within 30-days after a mortgage loan (other than with respect to the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan) has become a Specially Serviced Mortgage Loan, the

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Special Servicer will be required to order an appraisal (which will not be required to be received within that 30-day period) and, not more than 30-days after receipt of such appraisal, determine the fair value of the mortgage loan in accordance with the Servicing Standards. The Special Servicer will be permitted to change, from time to time thereafter, its determination of the fair value of a mortgage loan in default based upon changed circumstances, new information or otherwise, in accordance with the Servicing Standards.

In the event a mortgage loan is in default, the Directing Certificateholder and the Special Servicer will each have an assignable option (a ‘‘Purchase Option’’) to purchase the mortgage loan in default from the trust fund ((i) with respect to each AB Mortgage Loan, subject to the purchase right of the holder of the related AB Subordinate Companion Loan and (ii) in the case of any mortgage loan with a mezzanine loan, subject to the purchase right of the holder of the mezzanine debt set forth under any related intercreditor agreement as described under ‘‘Description of the Mortgage Pool—General’’ in this free writing prospectus) at a price (the ‘‘Option Price’’) equal to, if the Special Servicer has not yet determined the fair value of the mortgage loan in default, (i) (a) the unpaid principal balance of the mortgage loan in default, plus (b) accrued and unpaid interest on such balance, plus (c) all Yield Maintenance Charges and/or prepayment penalties then due (except if the Purchase Option is exercised by the Controlling Class Certificateholder), plus (d) all related unreimbursed Servicing Advances, together with accrued and unpaid interest on all Advances, all accrued Special Servicing Fees allocable to such mortgage loan in default whether paid or unpaid, and any unreimbursed trust fund expenses in respect of such mortgage loan, or (ii) the fair value of the mortgage loan in default as determined by the Special Servicer, if the Special Servicer has made such fair value determination. The Directing Certificateholder will have an exclusive right to exercise the Purchase Option for a specified period of time.

Unless and until the Purchase Option with respect to a mortgage loan in default is exercised or expires, the Special Servicer will be required to pursue such other resolution strategies available under the Pooling and Servicing Agreement, including workout and foreclosure, consistent with the Servicing Standards, but the Special Servicer will not be permitted to sell the mortgage loan in default other than pursuant to the exercise of the Purchase Option.

If not exercised sooner, the Purchase Option with respect to any mortgage loan in default will automatically terminate upon (i) the related borrower’s cure of all defaults on the mortgage loan in default, (ii) the acquisition on behalf of the trust fund of title to the related Mortgaged Property by foreclosure or deed in lieu of foreclosure, (iii) the modification or pay-off (full or discounted) of the mortgage loan in default in connection with a workout and (iv) in the case of each AB Mortgage Loan Pair, the purchase of any AB Mortgage Loan by the holder of the related AB Subordinate Companion Loan. In addition, the Purchase Option with respect to a mortgage loan in default held by any person will terminate upon the exercise of the Purchase Option by any other holder of a Purchase Option.

If (a) a Purchase Option is exercised with respect to a mortgage loan in default and the person expected to acquire the mortgage loan in default pursuant to such exercise is a Controlling Class Certificateholder, the Special Servicer, or any of their respective affiliates (in other words, the Purchase Option has not been assigned to another unaffiliated person) and (b) the Option Price is based on the Special Servicer’s determination of the fair value of the mortgage loan in default, then the applicable Master Servicer (or, if the applicable Master Servicer is an affiliate of the Special Servicer, an independent third party appointed by the Trustee) will be required to determine if the Option Price represents a fair value for the mortgage loan in default. The applicable Master Servicer (or the independent third party, as applicable) will be entitled to receive, out of general collections on the mortgage loans and any REO Properties in the trust fund, a reasonable one-time fee for such determination not to exceed $1,000 per mortgage loan plus reasonable out-of-pocket costs and expenses.

The Purchase Option with respect to each AB Mortgage Loan (and the purchase price) is subject to the right of the holder of the related AB Subordinate Companion Loan to exercise its

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option to purchase the related AB Mortgage Loan following a default as described under the related Intercreditor Agreement (and such purchase price is subject to the terms of the related Intercreditor Agreement). See ‘‘Description of the Mortgage Pool—AB Mortgage Loan Pairs’’ in this free writing prospectus. The Purchase Option with respect to each mortgage loan with a mezzanine loan is subject to the rights of the holder of the related mezzanine debt to exercise its option to purchase the related mortgage loan following a default as described under the related intercreditor agreement (and such purchase price is subject to the terms of the related intercreditor agreement). See ‘‘Description of the Mortgage Pool—Additional Debt—Mezzanine Debt’’ in this free writing prospectus.

If title to any Mortgaged Property is acquired by the trust fund, the Special Servicer, on behalf of the trust fund, will be required to sell the Mortgaged Property prior to the close of the third calendar year beginning after the year of acquisition, unless (1) the Internal Revenue Service (the ‘‘IRS’’) grants an extension of time to sell the property or (2) the Trustee receives an opinion of independent counsel to the effect that the holding of the property by the trust fund longer than the above-referenced three year period will not result in the imposition of a tax on either the Upper-Tier REMIC or the Lower-Tier REMIC or cause the trust fund (or either the Upper-Tier REMIC or the Lower-Tier REMIC) to fail to qualify as a REMIC under the Code at any time that any Certificate is outstanding. Subject to the foregoing and any other tax-related limitations, pursuant to the Pooling and Servicing Agreement, the Special Servicer will generally be required to attempt to sell any Mortgaged Property so acquired on the same terms and conditions it would if it were the owner. The Special Servicer will also be required to ensure that any Mortgaged Property acquired by the trust fund is administered so that it constitutes ‘‘foreclosure property’’ within the meaning of Code Section 860G(a)(8) at all times and that the sale of the property does not result in the receipt by the trust fund of any income from nonpermitted assets as described in Code Section 860F(a)(2)(B). If the trust fund acquires title to any Mortgaged Property, the Special Servicer, on behalf of the trust fund, will retain, at the expense of the trust fund, an independent contractor to manage and operate the property. The independent contractor generally will be permitted to perform construction (including renovation) on a foreclosed property only if the construction was at least 10% completed at the time default on the related mortgage loan became imminent. The retention of an independent contractor, however, will not relieve the Special Servicer of its obligation to manage the Mortgaged Property as required under the Pooling and Servicing Agreement.

Generally, neither the Upper-Tier REMIC nor the Lower-Tier REMIC will be taxable on income received with respect to a Mortgaged Property acquired by the trust fund to the extent that it constitutes ‘‘rents from real property,’’ within the meaning of Code Section 856(c)(3)(A) and Treasury regulations under the Code. Rents from real property include fixed rents and rents based on the receipts or sales of a tenant but do not include the portion of any rental based on the net income or profit of any tenant or sub-tenant. No determination has been made whether rent on any of the Mortgaged Properties meets this requirement. Rents from real property include charges for services customarily furnished or rendered in connection with the rental of real property, whether or not the charges are separately stated. Services furnished to the tenants of a particular building will be considered as customary if, in the geographic market in which the building is located, tenants in buildings that are of similar class are customarily provided with the service. No determination has been made whether the services furnished to the tenants of the Mortgaged Properties are ‘‘customary’’ within the meaning of applicable regulations. It is therefore possible that a portion of the rental income with respect to a Mortgaged Property owned by the trust fund would not constitute rents from real property, or that none of such income would qualify if a separate charge is not stated for such non-customary services or they are not performed by an independent contractor. Rents from real property also do not include income from the operation of a trade or business on the Mortgaged Property, such as a hotel. Any of the foregoing types of income may instead constitute ‘‘net income from foreclosure property,’’ which would be taxable to the Lower-Tier REMIC at the highest marginal federal corporate rate (currently 35%) and may also be subject to state or local taxes. The Pooling and

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Servicing Agreement provides that the Special Servicer will be permitted to cause the Lower-Tier REMIC to earn ‘‘net income from foreclosure property’’ that is subject to tax if it determines that the net after-tax benefit to Certificateholders is greater than another method of operating or net leasing the Mortgaged Property. Because these sources of income, if they exist, are already in place with respect to the Mortgaged Properties, it is generally viewed as beneficial to Certificateholders to permit the trust fund to continue to earn them if it acquires a Mortgaged Property, even at the cost of this tax. These taxes would be chargeable against the related income for purposes of determining the proceeds available for distribution to holders of Certificates. See ‘‘Certain Federal Income Tax Consequences—Federal Income Tax Consequences for REMIC Certificates—Taxes That May Be Imposed on the REMIC Pool’’ in the prospectus.

To the extent that Liquidation Proceeds collected with respect to any mortgage loan are less than the sum of: (1) the outstanding principal balance of the mortgage loan, (2) interest accrued on the mortgage loan and (3) the aggregate amount of expenses reimbursable to the applicable Master Servicer, Special Servicer or the Trustee or paid out of the trust fund that were not reimbursed by the related borrower (including any unpaid servicing compensation, unreimbursed Servicing Advances and unpaid and accrued interest on all Advances and additional trust fund expenses) incurred with respect to the mortgage loan, the trust fund will realize a loss in the amount of the shortfall. The Trustee, the applicable Master Servicer and/or the Special Servicer will be entitled to reimbursement out of the Liquidation Proceeds recovered on any mortgage loan, prior to the distribution of those Liquidation Proceeds to Certificateholders, of any and all amounts that represent unpaid servicing compensation in respect of the related mortgage loan, certain unreimbursed expenses incurred with respect to the mortgage loan and any unreimbursed Advances (including interest thereon) made with respect to the mortgage loan. In addition, amounts otherwise distributable on the Certificates will be further reduced by interest payable to the applicable Master Servicer, the Special Servicer or the Trustee on these Advances.

If any Mortgaged Property suffers damage and the proceeds, if any, of the related hazard insurance policy are insufficient to restore fully the damaged property, the applicable Master Servicer will not be required to advance the funds to effect the restoration unless (1) the Special Servicer determines that the restoration will increase the proceeds to Certificateholders on liquidation of the mortgage loan after reimbursement of the Special Servicer or the applicable Master Servicer, as the case may be, for its expenses and (2) the applicable Master Servicer has not determined that the advance would be a Nonrecoverable Advance.

Inspections; Collection of Operating Information

The applicable Master Servicer will be required to perform or cause to be performed (at its own expense), physical inspections of each Mortgaged Property (other than the Mortgaged Property securing the 599 Lexington Avenue Loan, which is subject to inspection pursuant to the 2007-LDP10 Pooling and Servicing Agreement, and other than the Mortgaged Property securing the AmeriCold Portfolio Loan, which is subject to inspection pursuant to the 2007-CIBC18 Pooling and Servicing Agreement) securing a Mortgage Note with a Stated Principal Balance of (A) $2,000,000 or more at least once every 12 months and (B) less than $2,000,000 at least once every 24 months, in each case commencing in the calendar year 2008 unless a physical inspection has been performed by the Special Servicer within the last calendar year and the applicable Master Servicer has no knowledge of a material change in the Mortgaged Property since such physical inspection; provided, further, however, that if any scheduled payment becomes more than 60 days delinquent on the related mortgage loan, the Special Servicer is required to inspect or cause to be inspected the related Mortgaged Property as soon as practicable after the mortgage loan becomes a Specially Serviced Mortgage Loan and annually thereafter for so long as the mortgage loan remains a Specially Serviced Mortgage Loan (the cost of which inspection will be reimbursed first from default interest and late charges constituting additional compensation of the Special Servicer on the related mortgage loan and then from the Certificate Account as an expense of the trust fund, and, in the case of any AB Mortgage Loan, as an expense of the holder of the related AB Subordinate Companion Loan to the extent provided by

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the related Intercreditor Agreement). The Special Servicer or the applicable Master Servicer, as the case may be, will be required to prepare or cause to be prepared a written report of the inspection describing, among other things, the condition of and any damage to the Mortgaged Property to the extent evident from the inspection and specifying the existence of any material vacancies in the Mortgaged Property of which it has knowledge, of any sale, transfer or abandonment of the Mortgaged Property of which it has knowledge or that is evident from the inspection, of any material change in the condition of the Mortgaged Property to the extent evident from the inspection, or of any material waste committed on the Mortgaged Property to the extent evident from the inspection.

With respect to each mortgage loan that requires the borrower to deliver Operating Statements, the Special Servicer or the applicable Master Servicer, as the case may be, is also required to use reasonable efforts to collect and review the annual Operating Statements of the related Mortgaged Property. Most of the mortgage loan documents obligate the related borrower to deliver annual property Operating Statements. However, we cannot assure you that any Operating Statements required to be delivered will in fact be delivered, nor is the Special Servicer or the applicable Master Servicer likely to have any practical means of compelling the delivery in the case of an otherwise performing mortgage loan.

Copies of the inspection reports and Operating Statements referred to above that are delivered to the Directing Certificateholder and the Paying Agent will be available for review by Certificateholders during normal business hours at the offices of the Paying Agent. See ‘‘Description of the Certificates—Reports to Certificateholders; Certain Available Information’’ in this free writing prospectus.

Certain Matters Regarding the Master Servicers, the Special Servicer and the Depositor

The Pooling and Servicing Agreement permits the Master Servicers and the Special Servicer to resign from their respective obligations only upon (a) the appointment of, and the acceptance of the appointment by, a successor and receipt by the Trustee of written confirmation from each Rating Agency that the resignation and appointment will not, in and of itself, cause a downgrade, withdrawal or qualification of the rating assigned by such Rating Agency to any Class of Certificates; and the approval of such successor by the Directing Certificateholder, which approval shall not be unreasonably withheld, or (b) a determination that their respective obligations are no longer permissible with respect to the Master Servicers or the Special Servicer, as the case may be, under applicable law. No resignation will become effective until the Trustee or other successor has assumed the obligations and duties of the resigning Master Servicer or Special Servicer, as the case may be, under the Pooling and Servicing Agreement. Further, the resigning Master Servicer or Special Servicer, as the case may be, must pay all costs and expenses associated with the transfer of its duties.

The Pooling and Servicing Agreement will provide that none of the Master Servicers, the Special Servicer, the Depositor or any member, manager, director, officer, employee or agent of any of them will be under any liability to the trust fund or the Certificateholders for any action taken, or not taken, in good faith pursuant to the Pooling and Servicing Agreement or for errors in judgment; provided, however, that none of the Master Servicers, the Special Servicer, the Depositor or similar person will be protected against any liability that would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of obligations or duties under the Pooling and Servicing Agreement or by reason of negligent disregard of the obligations and duties. The Pooling and Servicing Agreement will also provide that the Master Servicers, the Special Servicer, the Depositor and their respective affiliates and any director, officer, employee or agent of any of them will be entitled to indemnification by the trust fund against any loss, liability or expense incurred in connection with any legal action or claim that relates to the Pooling and Servicing Agreement or the Certificates; provided, however, that the indemnification will not extend to any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence in the performance of obligations or duties under the Pooling and Servicing Agreement, by reason of negligent disregard of such party’s

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obligations or duties, or in the case of the Depositor and any of its directors, officers, members, managers, employees and agents, any violation by any of them of any state or federal securities law. The Pooling and Servicing Agreement will also provide that the 599 Lexington Avenue Master Servicer, the Depositor, the 599 Lexington Avenue Special Servicer, the trustee under the 2007-LDP10 Pooling and Servicing Agreement and any director, officer, employee or agent of any of them will be entitled to indemnification by the trust fund and held harmless against the trust’s pro rata share of any liability or expense incurred in connection with any legal action or claim that relates to the 599 Lexington Avenue Loan under the 2007-LDP10 Pooling and Servicing Agreement or the Pooling and Servicing Agreement; provided, however, that such indemnification will not extend to any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence on the part of the 599 Lexington Avenue Master Servicer, the 599 Lexington Avenue Special Servicer, the Depositor or the trustee under the 2007-LDP10 Pooling and Servicing Agreement in the performance of obligations or duties or by reason of negligent disregard of obligations or duties under the 2007-LDP10 Pooling and Servicing Agreement. The Pooling and Servicing Agreement will also provide that the AmeriCold Portfolio Primary Servicer, the Depositor, the AmeriCold Portfolio Special Servicer, the trustee under the 2007-CIBC18 Pooling and Servicing Agreement and any director, officer, employee or agent of any of them will be entitled to indemnification by the trust fund and held harmless against the trust’s pro rata share of any liability or expense incurred in connection with any legal action or claim that relates to the AmeriCold Portfolio Loan under the 2007-CIBC18 Pooling and Servicing Agreement or the Pooling and Servicing Agreement; provided, however, that such indemnification will not extend to any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence on the part of the AmeriCold Portfolio Primary Servicer, the AmeriCold Portfolio Special Servicer, the Depositor or the trustee under the 2007-CIBC18 Pooling and Servicing Agreement in the performance of obligations or duties or by reason of negligent disregard of obligations or duties under the 2007-CIBC18 Pooling and Servicing Agreement.

In addition, the Pooling and Servicing Agreement will provide that none of the Master Servicers, the Special Servicer or the Depositor will be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its respective responsibilities under the Pooling and Servicing Agreement or that in its opinion may involve it in any expense or liability not reimbursed by the trust. However, each of the Master Servicers, the Special Servicer and the Depositor will be permitted, in the exercise of its discretion, to undertake any action that it may deem necessary or desirable with respect to the enforcement and/or protection of the rights and duties of the parties to the Pooling and Servicing Agreement and the interests of the Certificateholders (and in the case of any AB Mortgage Loan, the rights of the Certificateholders and the holder of the related AB Subordinate Companion Loan (as a collective whole)) under the Pooling and Servicing Agreement.

Pursuant to the Pooling and Servicing Agreement, the Master Servicers and Special Servicer will each be required to maintain a fidelity bond and errors and omissions policy or their equivalent that provides coverage against losses that may be sustained as a result of an officer’s or employee’s misappropriation of funds or errors and omissions, subject to certain limitations as to amount of coverage, deductible amounts, conditions, exclusions and exceptions permitted by the Pooling and Servicing Agreement. Notwithstanding the foregoing, the Master Servicers and the Special Servicer will be allowed to self-insure with respect to an errors and omission policy and a fidelity bond so long as certain conditions set forth in the Pooling and Servicing Agreement are met.

Any person into which a Master Servicer, the Special Servicer or the Depositor may be merged or consolidated, or any person resulting from any merger or consolidation to which a Master Servicer, the Special Servicer or the Depositor is a party, or any person succeeding to the business of a Master Servicer, the Special Servicer or the Depositor, will be the successor of that Master Servicer, the Special Servicer or the Depositor, as the case may be, under the Pooling and Servicing Agreement. The Master Servicers and the Special Servicer may have other normal business relationships with the Depositor or the Depositor’s affiliates.

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Events of Default

‘‘Events of Default’’ under the Pooling and Servicing Agreement with respect to the Master Servicers or the Special Servicer, as the case may be, will include, without limitation:

(a)    (i) any failure by the applicable Master Servicer to make a required deposit to the Certificate Account on the day such deposit was first required to be made, which failure is not remedied within one business day, or (ii) any failure by the applicable Master Servicer to deposit into, or remit to the Paying Agent for deposit into, the Distribution Account any amount required to be so deposited or remitted, which failure is not remedied by 11:00 a.m. New York City time on the relevant Distribution Date;

(b)    any failure by the Special Servicer to deposit into the REO Account within one business day after the day such deposit is required to be made, or to remit to the applicable Master Servicer for deposit in the Certificate Account any such remittance required to be made by the Special Servicer on the day such remittance is required to be made under the Pooling and Servicing Agreement;

(c)    any failure by the applicable Master Servicer or the Special Servicer duly to observe or perform in any material respect any of its other covenants or obligations under the Pooling and Servicing Agreement, which failure continues unremedied for thirty days (fifteen days in the case of the applicable Master Servicer’s failure to make a Servicing Advance or fifteen days in the case of a failure to pay the premium for any insurance policy required to be maintained under the Pooling and Servicing Agreement or five days in the case of a failure by the applicable Master Servicer or the Special Servicer to deliver certain reports required under the Pooling and Servicing Agreement) after written notice of the failure has been given to the applicable Master Servicer or the Special Servicer, as the case may be, by any other party to the Pooling and Servicing Agreement, or to the applicable Master Servicer or the Special Servicer, as the case may be, with a copy to each other party to the related Pooling and Servicing Agreement, by Certificateholders of any Class, evidencing as to that Class, Percentage Interests aggregating not less than 25%; provided, however, if that failure is capable of being cured and the applicable Master Servicer or the Special Servicer, as applicable, is diligently pursuing that cure, that 30-day period will be extended an additional 30-days;

(d)    any breach on the part of the applicable Master Servicer or the Special Servicer of any representation or warranty in the Pooling and Servicing Agreement that materially and adversely affects the interests of any Class of Certificateholders and that continues unremedied for a period of 30-days after the date on which notice of that breach, requiring the same to be remedied, will have been given to the applicable Master Servicer or the Special Servicer, as the case may be, by the Depositor, the Paying Agent or the Trustee, or to the applicable Master Servicer, the Special Servicer, the Depositor, the Paying Agent and the Trustee by the Certificateholders of any Class, evidencing as to that Class, Percentage Interests aggregating not less than 25%; provided, however, if that breach is capable of being cured and the applicable Master Servicer or Special Servicer, as applicable, is diligently pursuing that cure, that 30-day period will be extended an additional 30-days;

(e)    certain events of insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings in respect of or relating to the applicable Master Servicer or the Special Servicer, and certain actions by or on behalf of the applicable Master Servicer or the Special Servicer indicating its insolvency or inability to pay its obligations;

(f)    a servicing officer of the Master Servicers or the Special Servicer, as applicable, obtains actual knowledge that Moody’s has (i) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates, or (ii) has placed one or more Classes of Certificates on ‘‘watch status’’ in contemplation of a ratings downgrade or withdrawal (and such ‘‘watch status’’ placement shall not have been withdrawn by Moody’s within 60 days of the date such servicing officer obtained such actual knowledge) and, in the case of

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either of clauses (i) or (ii), cited servicing concerns with the Master Servicers or the Special Servicer, as applicable, as the sole or material factor in such rating action; and

(g)    the Master Servicers or the Special Servicer is no longer listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, and is not reinstated to S&P’s Select Servicer List within 60 days of such removal.

Rights Upon Event of Default

If an Event of Default occurs with respect to the Master Servicers or the Special Servicer under the Pooling and Servicing Agreement, then, so long as the Event of Default remains unremedied, the Depositor or the Trustee will be authorized, and at the written direction of Certificateholders entitled to not less than 51% of the Voting Rights or the Directing Certificateholder, the Trustee will be required, to terminate all of the rights and obligations of the defaulting party as Master Servicer or Special Servicer, as applicable (other than certain rights in respect of indemnification and certain items of servicing compensation), under the Pooling and Servicing Agreement. The Trustee will then succeed to all of the responsibilities, duties and liabilities of the defaulting party as Master Servicer or Special Servicer, as applicable, under the Pooling and Servicing Agreement and will be entitled to similar compensation arrangements. If the Trustee is unwilling or unable so to act, it may (or, at the written request of the Directing Certificateholder or Certificateholders entitled to not less than 51% of the Voting Rights, it will be required to) appoint, or petition a court of competent jurisdiction to appoint, a loan servicing institution or other entity that would not result in the downgrade, qualification or withdrawal of the ratings assigned to any Class of Certificates by either Rating Agency to act as successor to the applicable Master Servicer or Special Servicer, as the case may be, under the Pooling and Servicing Agreement and that has been approved by the Directing Certificateholder, which approval shall not be unreasonably withheld.

No Certificateholder will have any right under the Pooling and Servicing Agreement to institute any proceeding with respect to the Certificates or the Pooling and Servicing Agreement unless the holder previously has given to the Trustee written notice of default and the continuance of the default and unless the holders of Certificates of any Class evidencing not less than 25% of the aggregate Percentage Interests constituting the Class have made written request upon the Trustee to institute a proceeding in its own name (as Trustee) and have offered to the Trustee reasonable indemnity, and the Trustee for 60 days after receipt of the request and indemnity has neglected or refused to institute the proceeding. However, the Trustee will be under no obligation to exercise any of the trusts or powers vested in it by the Pooling and Servicing Agreement or to institute, conduct or defend any related litigation at the request, order or direction of any of the Certificateholders, unless the Certificateholders have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred as a result.

Amendment

The Pooling and Servicing Agreement may be amended by the parties to the Pooling and Servicing Agreement, without the consent of any of the holders of Certificates:

(a)    to cure any ambiguity to the extent the cure of the ambiguity does not materially and adversely affect the interests of any Certificateholder;

(b)    to cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements made in this free writing prospectus with respect to the Certificates, the trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any error to the extent, in each case, it does not materially and adversely affect the interests of any Certificateholder;

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(c)    to change the timing and/or nature of deposits in the Certificate Account, the Distribution Accounts or the REO Account, provided, that (A) the Master Servicer Remittance Date shall in no event be later than the business day prior to the related Distribution Date, (B) the change would not adversely affect in any material respect the interests of any Certificateholder, as evidenced by an opinion of counsel (at the expense of the party requesting the amendment) and (C) the change would not result in the downgrade, qualification or withdrawal of the ratings assigned to any Class of Certificates by either Rating Agency, as evidenced by a letter from each Rating Agency;

(d)    to modify, eliminate or add to any of its provisions (i) to the extent as will be necessary to maintain the qualification of either the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC, or to avoid or minimize the risk of imposition of any tax on the trust fund, provided, that the Trustee has received an opinion of counsel (at the expense of the party requesting the amendment) to the effect that (1) the action is necessary or desirable to maintain such qualification or to avoid or minimize such risk and (2) the action will not adversely affect in any material respect the interests of any holder of the Certificates or (ii) to restrict (or to remove any existing restrictions with respect to) the transfer of the Residual Certificates, provided, that the Depositor has determined that the amendment will not give rise to any tax with respect to the transfer of the Residual Certificates to a non-permitted transferee (see ‘‘Certain Federal Income Tax Consequences—Federal Income Tax Consequences for REMIC Certificates—Taxation of Residual Certificates—Tax-Related Restrictions on Transfer of Residual Certificates’’ in the prospectus);

(e)    to make any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any other change, provided that the required action will not adversely affect in any material respect the interests of any Certificateholder, as evidenced by an opinion of counsel and written confirmation that the change would not result in the downgrade, qualification or withdrawal of the ratings assigned to any Class of Certificates by either Rating Agency; and

(f)    to amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by written confirmation that the change would not result in the downgrade, qualification or withdrawal of the ratings assigned to any Class of Certificates by such Rating Agency.

Notwithstanding the foregoing, no amendment to the Pooling and Servicing Agreement may be made that changes in any manner the obligations of any Mortgage Loan Seller under a Purchase Agreement without the consent of the applicable Mortgage Loan Seller. Additionally, no amendment may be made that would adversely affect the Swap Counterparty under the Swap Contracts or the rights of the holders of the Class A-MFL or A-JFL Certificates without the consent of the Swap Counterparty and 66 2/3% of the holders of the Class A-MFL and/or Class A-JFL Certificates.

The Pooling and Servicing Agreement may also be amended by the parties to the Pooling and Servicing Agreement with the consent of the holders of Certificates of each Class affected by such amendment evidencing, in each case, not less than 66 2/3% of the aggregate Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the holders of the Certificates, except that the amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the mortgage loans that are required to be distributed on a Certificate of any Class without the consent of the holder of that Certificate or which are required to be distributed to a holder of any AB Subordinate Companion Loan without the consent of such holder, (2) reduce the aforesaid percentage of Certificates of any Class the holders of which are required to consent to the amendment or remove the requirement to obtain consent of the holder of the related AB Subordinate Companion Loan, without the consent of the holders of all Certificates of that Class

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then outstanding or the holder of the related AB Subordinate Companion Loan, (3) adversely affect the Voting Rights of any Class of Certificates, without the consent of the holders of all Certificates of that Class then outstanding, (4) change in any manner the obligations of any Mortgage Loan Seller under a Purchase Agreement without the consent of the applicable Mortgage Loan Seller, or (5) amend the Servicing Standards without, in each case, the consent of 100% of the holders of Certificates and the holder of the related AB Subordinate Companion Loan or written confirmation that such amendment would not result in the downgrade, qualification or withdrawal of the ratings assigned to any Class of Certificates by either Rating Agency.

Notwithstanding the foregoing, no party will be required to consent to any amendment to the Pooling and Servicing Agreement without the Trustee, the Master Servicers and the Special Servicer having first received an opinion of counsel (at the trust fund’s expense) to the effect that the amendment is permitted under the Pooling and Servicing Agreement and that the amendment or the exercise of any power granted to the Master Servicers, the Special Servicer, the Depositor, the Trustee or any other specified person in accordance with the amendment, will not result in the imposition of a tax on any portion of the trust fund or cause either the Upper-Tier REMIC or Lower-Tier REMIC to fail to qualify as a REMIC or cause the grantor trust portion of the trust fund to fail to qualify as a grantor trust.

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Yield and Maturity Considerations

Yield Considerations

General.    The yield on any Offered Certificate will depend on: (1) the Pass-Through Rate for the Certificate; (2) the price paid for the Certificate and, if the price was other than par, the rate and timing of payments of principal on the Certificate (or, in the case of the Class X-1 and Class X-2 Certificates, reduction of the Notional Amounts of the Class X-1 and Class X-2 Components, respectively); (3) the aggregate amount of distributions on the Certificate (or in the case of the Class X-1 and Class X-2 Certificates, reduction of the Notional Amounts of the Class X-1 and Class X-2, Components, respectively, as a result of such distributions); and (4) the aggregate amount of Collateral Support Deficit amounts allocated to a Class of Offered Certificates (or, in the case of the Class X-1 and Class X-2 Certificates, in reduction of the Notional Amounts of the Class X-1 and Class X-2 Components, respectively). In addition, the yield to investors in the Class A-MFL and Class A-JFL Certificates will be highly sensitive to changes in LIBOR such that decreasing levels of LIBOR will have a negative impact on the yield to investors in such Class of Certificates. See ‘‘Description of the Swap Contracts’’ in this free writing prospectus.

Pass-Through Rate.    The Pass-Through Rate applicable to each Class of Offered Certificates for any Distribution Date will equal the rate set forth on the cover of this free writing prospectus. See ‘‘Description of the Certificates’’ in this free writing prospectus.

Rate and Timing of Principal Payments.    The yield to holders of Offered Certificates that are purchased at a discount or premium will be affected by the rate and timing of principal payments on the mortgage loans (including principal prepayments on the mortgage loans resulting from both voluntary prepayments by the borrowers and involuntary liquidations). As described in this free writing prospectus, the Group 1 Principal Distribution Amount (and, after the Class A-1A Certificates have been reduced to zero, any remaining Group 2 Principal Distribution Amount) for each Distribution Date will generally be distributable first, in respect of the Class A-SB Certificates until their Certificate Balance is reduced to the Class A-SB Planned Principal Balance, second, in respect of the Class A-1 Certificates until their Certificate Balance is reduced to zero, third, in respect of the Class A-2 Certificates until their Certificate Balance is reduced to zero, fourth, in respect of the Class A-3 Certificates until their Certificate Balance is reduced to zero, fifth, in respect of the Class A-4 Certificates until their Certificate Balance is reduced to zero, and sixth, in respect of the Class A-SB Certificates until their Certificate Balance is reduced to zero; and the Group 2 Principal Distribution Amount (and, after the Class A-4 and Class A-SB Certificates have been reduced to zero, any remaining Group 1 Principal Distribution Amount) for each Distribution Date will generally be distributable to the Class A-1A Certificates until their Certificate Balance is reduced to zero. After those distributions, the remaining Principal Distribution Amount with respect to the pool of mortgage loans will generally be distributable entirely in respect of the Class A-M Certificates and Class A-MFL Regular Interest, pro rata, the Class A-J Certificates and Class A-JFL Regular Interest, pro rata, the Class B Certificates, the Class C Certificates and the Class D Certificates and then the Non-Offered Certificates, in that order, in each case until the Certificate Balance of such Class of Certificates is reduced to zero. Consequently, the rate and timing of principal payments on the mortgage loans will in turn be affected by their amortization schedules, Lockout Periods, Yield Maintenance Charges, the dates on which balloon payments are due, any extensions of maturity dates by the Master Servicers or the Special Servicer and the rate and timing of principal prepayments and other unscheduled collections on the mortgage loans (including for this purpose, collections made in connection with liquidations of mortgage loans due to defaults, casualties or condemnations affecting the Mortgaged Properties, or purchases of mortgage loans out of the trust fund). Furthermore, because the amount of principal that will be distributed to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates will generally be based upon the particular Loan Group in which the related mortgage loan is deemed to be included, the yield on the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates will be particularly sensitive to prepayments on mortgage loans in Loan Group 1 and the yield on the Class A-1A Certificates will

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be particularly sensitive to prepayments on mortgage loans in Loan Group 2. With respect to the Class A-SB Certificates, the extent to which the planned balances are achieved and the sensitivity of the Class A-SB Certificates to principal prepayments on the mortgage loans will depend in part on the period of time during which the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-1A Certificates remain outstanding. In particular, once such Classes of Certificates are no longer outstanding, any remaining portion on any Distribution Date of the Group 2 Principal Distribution Amount and/or Group 1 Principal Distribution Amount, as applicable, will be distributed to the Class A-SB Certificates until the Certificate Balance of the Class A-SB Certificates is reduced to zero. As such, the Class A-SB Certificates will become more sensitive to the rate of prepayments on the mortgage loans than they were when the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-1A Certificates were outstanding. Furthermore, because the Class X-1 and Class X-2 Certificates are not entitled to distributions of principal, the yield on such Certificates will be extremely sensitive to prepayments on the mortgage loans to the extent distributed to reduce the Notional Amounts of the related Class X-1 and Class X-2 Components, respectively.

Prepayments and, assuming the respective stated maturity dates for the mortgage loans have not occurred, liquidations and purchases of the mortgage loans, will result in distributions on the Offered Certificates of amounts that would otherwise be distributed over the remaining terms of the mortgage loans. Defaults on the mortgage loans, particularly at or near their stated maturity dates, may result in significant delays in payments of principal on the mortgage loans (and, accordingly, on the Offered Certificates) while work-outs are negotiated or foreclosures are completed. See ‘‘Servicing of the Mortgage Loans—Modifications, Waiver and Amendments’’ and ‘‘—Realization Upon Defaulted Mortgage Loans’’ in this free writing prospectus and ‘‘Certain Legal Aspects of Mortgage Loans—Foreclosure’’ in the prospectus. Because the rate of principal payments on the mortgage loans will depend on future events and a variety of factors (as described below), we cannot assure you as to the rate of principal payments or the rate of principal prepayments in particular. We are not aware of any relevant publicly available or authoritative statistics with respect to the historical prepayment experience of a large group of mortgage loans comparable to the mortgage loans.

The extent to which the yield to maturity of any Class of Offered Certificates may vary from the anticipated yield will depend upon the degree to which the Certificates are purchased at a discount or premium and when, and to what degree, payments of principal on the mortgage loans (with respect to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB and Class A-1A Certificates, the Loan Group in which such mortgage loan is deemed to be included) are in turn distributed on the Certificates and the Class A-MFL and Class A-JFL Regular Interests or, in the case of the Class X-1 and Class X-2 Components applied to reduce the Notional Amounts of the Class X-1 and Class X-2 Certificates, respectively. An investor should consider, in the case of any Offered Certificate (other than the Class X-1 and Class X-2 Certificates) purchased at a discount, the risk that a slower than anticipated rate of principal payments on the mortgage loans will result in an actual yield to the investor that is lower than the anticipated yield and, in the case of any Offered Certificate purchased at a premium, the risk that a faster than anticipated rate of principal payments on the mortgage loans will result in an actual yield to the investor that is lower than the anticipated yield. In general, the earlier a payment of principal is distributed on an Offered Certificate purchased at a discount or premium, the greater will be the effect on an investor’s yield to maturity. As a result, the effect on an investor’s yield of principal payments distributed on an investor’s Offered Certificates occurring at a rate higher (or lower) than the rate anticipated by the investor during any particular period would not be fully offset by a subsequent like reduction (or increase) in the rate of principal payments.

Because the Notional Amounts of the Class X-1 and Class X-2 Certificates are based upon the outstanding principal balances of other Classes of Certificates (or portions thereof) (other than the Class A-MFL Certificates, Class A-JFL Certificates and Residual Certificates) and the Class A-MFL and Class A-JFL Regular Interests, the yield to maturity on the Class X-1 and Class X-2 Certificates will be extremely sensitive to the rate and timing of prepayments of principal on the mortgage loans.

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Principal prepayments on the mortgage loans may also affect the yield on the Classes of Certificates with a Pass-Through Rate equal to, based on, or limited by the WAC Rate to the extent that mortgage loans with higher mortgage rates prepay faster than mortgage loans with lower mortgage rates. The Pass-Through Rates on those Classes of Certificates may be adversely affected by a decrease in the WAC Rate even if principal prepayments do not occur.

Losses and Shortfalls.    The yield to holders of the Offered Certificates will also depend on the extent to which the holders are required to bear the effects of any losses or shortfalls on the mortgage loans. Losses and other shortfalls on the mortgage loans will generally be borne by the holders of the Class NR Certificates, Class P Certificates, Class N Certificates, Class M Certificates, Class L Certificates, Class K Certificates, Class J Certificates, Class H Certificates, Class G Certificates, Class F Certificates, Class E Certificates, Class D Certificates, Class C Certificates, Class B Certificates, then to the Class A-J Certificates and Class A-JFL Regular Interest, pro rata, and then to the Class A-M Certificates and Class A-MFL Regular Interest, pro rata, in that order, in each case to the extent of amounts otherwise distributable in respect of the Class of Certificates (other than the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests. In the event of the reduction of the Certificate Balances of all those Classes of Certificates to zero, the resulting losses and shortfalls will then be borne, pro rata, by the Class A Certificates. Although losses will not be allocated to the Class X-1 and Class X-2 Certificates directly, they will reduce the Notional Amounts of (i) the Class X-1 to the extent such losses are allocated to any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest and therefore the Class X-1 Notional Amount, and (ii) the Class X-2 Components to the extent such losses are allocated to any Class of Principal Balance Certificates or the Class A-MFL or Class A-JFL Regular Interest that are included as part of the Notional Amount of the Class X-2 Certificates for the related Distribution Date, in each case, which will reduce the yield on such Certificates. In addition, although losses will not be directly allocated to the Class A-MFL and Class A-JFL Certificates, losses allocated to the Class A-MFL or Class A-JFL Regular Interest will result in a corresponding reduction of the Certificate Balance of the Class A-MFL or the Class A-JFL Certificates, as applicable.

Certain Relevant Factors.    The rate and timing of principal payments and defaults and the severity of losses on the mortgage loans may be affected by a number of factors, including, without limitation, prevailing interest rates, the terms of the mortgage loans (for example, due-on-sale clauses, Lockout Periods or Yield Maintenance Charges and amortization terms that require balloon payments), the demographics and relative economic vitality of the areas in which the Mortgaged Properties are located and the general supply and demand for rental properties in those areas, the quality of management of the Mortgaged Properties, the servicing of the mortgage loans, possible changes in tax laws and other opportunities for investment. See ‘‘Risk Factors’’ and ‘‘Description of the Mortgage Pool’’ in this free writing prospectus and ‘‘Risk Factors’’ and ‘‘Yield and Maturity Considerations—Yield and Prepayment Considerations’’ in the prospectus.

The rate of prepayment on the pool of mortgage loans is likely to be affected by prevailing market interest rates for mortgage loans of a comparable type, term and risk level as the mortgage loans. When the prevailing market interest rate is below a mortgage coupon, a borrower may have an increased incentive to refinance its mortgage loan. However, under all of the mortgage loans, voluntary prepayments are subject to Lockout Periods and/or Yield Maintenance Charges. See ‘‘Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Prepayment Provisions’’ in this free writing prospectus. In any case, we cannot assure you that the related borrowers will refrain from prepaying their mortgage loans due to the existence of Yield Maintenance Charges or prepayment premiums, or that involuntary prepayments will not occur.

Depending on prevailing market interest rates, the outlook for market interest rates and economic conditions generally, some borrowers may sell Mortgaged Properties in order to realize their equity in the Mortgaged Property, to meet cash flow needs or to make other investments. In

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addition, some borrowers may be motivated by federal and state tax laws (which are subject to change) to sell Mortgaged Properties prior to the exhaustion of tax depreciation benefits.

The Depositor makes no representation as to the particular factors that will affect the rate and timing of prepayments and defaults on the mortgage loans, as to the relative importance of those factors, as to the percentage of the principal balance of the mortgage loans that will be prepaid or as to which a default will have occurred as of any date or as to the overall rate of prepayment or default on the mortgage loans.

Delay in Payment of Distributions.    Because each monthly distribution is made on each Distribution Date, which is at least 12 days after the end of the related Interest Accrual Period for the Offered Certificates (other than the Class A-MFL and Class A-JFL Certificates, for which distributions are made 0 days after the end of the related Interest Accrual Period, unless the Pass-Through Rate for the Class A-MFL or Class A-JFL Certificates converts to a fixed rate) and the Class A-MFL and Class A-JFL Regular Interests, the effective yield to the holders of such Offered Certificates will be lower than the yield that would otherwise be produced by the applicable Pass-Through Rates and purchase prices (assuming the prices did not account for the delay).

Unpaid Distributable Certificate Interest.    As described under ‘‘Description of the Certificates—Distributions—Priority’’ in this free writing prospectus, if the portion of the Available Distribution Amount distributable in respect of interest on any Class of Offered Certificates, or the Class A-MFL or Class A-JFL Regular Interest, on any Distribution Date is less than the Distributable Certificate Interest then payable for that Class of Certificates, or the Class A-MFL or Class A-JFL Regular Interest, then the shortfall will be distributable to holders of that Class of Certificates, or the Class A-MFL or Class A-JFL Regular Interest, on subsequent Distribution Dates, to the extent of available funds. Any shortfall will not bear interest, however, so it will negatively affect the yield to maturity of the related Class of Certificates for so long as it is outstanding. Any such shortfall distributed to the Class A-MFL Regular Interest will be distributed to the holders of the Class A-MFL Certificates, to the extent such shortfall is not otherwise payable to the Swap Counterparty pursuant to the A-MFL Swap Contract. Any such shortfall distributed to the Class A-JFL Regular Interest will be distributed to the holders of the Class A-JFL Certificates, to the extent such shortfall is not otherwise payable to the Swap Counterparty pursuant to the A-JFL Swap Contract.

Pass-Through Rate of the Class A-MFL and Class A-JFL Certificates.    The yield to investors in the Class A-MFL and Class A-JFL Certificates will be highly sensitive to changes in the level of one-month LIBOR. Investors in the Class A-MFL and Class A-JFL Certificates should consider the risk that lower than anticipated levels of one-month LIBOR could result in actual yields that are lower than anticipated yields on the Class A-MFL and Class A-JFL Certificates. In addition, because interest payments on the Class A-MFL and Class A-JFL Certificates may be reduced or the Pass-Through Rate may convert to a fixed rate in connection with certain events discussed in this free writing prospectus, the yield to investors in the Class A-MFL and Class A-JFL Certificates under those circumstances may not be as high as that offered by other LIBOR based investments that are not subject to such interest rate restrictions. In general, the earlier a change in the level of one-month LIBOR, the greater the effect on the yield to maturity to an investor in the Class A-MFL and Class A-JFL Certificates. As a result, the effect on such investor’s yield to maturity of a level of one-month LIBOR that is higher (or lower) than the rate anticipated by such investor during the period immediately following the issuance of the Class A-MFL and Class A-JFL Certificates is not likely to be offset by a subsequent like reduction (or increase) in the level of one-month LIBOR.

Weighted Average Life

The weighted average life of an Offered Certificate refers to the average amount of time that will elapse from the date of its issuance until each dollar allocable to principal of the Certificate is distributed to the related investor. The weighted average life of an Offered Certificate will be influenced by, among other things, the rate at which principal on the

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mortgage loans is paid or otherwise collected, which may be in the form of scheduled amortization, voluntary prepayments, Insurance and Condemnation Proceeds and Liquidation Proceeds. As described in this free writing prospectus, the Group 1 Principal Distribution Amount (and, after the Class A-1A Certificates have been reduced to zero, any remaining Group 2 Principal Distribution Amount) for each Distribution Date will generally be distributable first, in respect of the Class A-SB Certificates until their Certificate Balance is reduced to the Class A-SB Planned Principal Balance, second, in respect of the Class A-1 Certificates until their Certificate Balance is reduced to zero, third, in respect of the Class A-2 Certificates until their Certificate Balance is reduced to zero, fourth, in respect of the Class A-3 Certificates, until their Certificate Balance is reduced to zero, fifth, in respect of the Class A-4 Certificates until their Certificate Balance is reduced to zero, and sixth, in respect of the Class A-SB Certificates until their Certificate Balance is reduced to zero; and the Group 2 Principal Distribution Amount (and, after the Class A-4 and Class A-SB Certificates have been reduced to zero, any remaining Group 1 Principal Distribution Amount) for each Distribution Date will generally be distributable to the Class A-1A Certificates until their Certificate Balance is reduced to zero. After those distributions, the remaining Principal Distribution Amount with respect to all the mortgage loans will generally be distributable entirely in respect of the Class A-M Certificates and Class A-MFL Regular Interest, pro rata, the Class A-J Certificates and Class A-JFL Regular Interest, pro rata, Class B Certificates, Class C Certificates and Class D Certificates and then the Non-Offered Certificates, in that order, in each case until the Certificate Balance of each such Class of Certificates or Regular Interest is reduced to zero. A reduction in the Certificate Balance of the Class A-MFL or Class A-JFL Regular Interest will result in a corresponding reduction of the Certificate Balance of the Class A-MFL or Class A-JFL Certificates, as applicable.

Prepayments on mortgage loans may be measured by a prepayment standard or model. The model used in this free writing prospectus is the ‘‘Constant Prepayment Rate’’ or ‘‘CPR’’ model. The CPR model represents an assumed constant annual rate of prepayment each month, expressed as a per annum percentage of the then-scheduled principal balance of the pool of mortgage loans. As used in each of the following tables, the column headed ‘‘0% CPR’’ assumes that none of the mortgage loans is prepaid before its maturity date. The columns headed ‘‘25% CPR,’’ ‘‘50% CPR,’’ ‘‘75% CPR’’ and ‘‘100% CPR’’ assume that prepayments on the mortgage loans are made at those levels of CPR following the expiration of any Lockout Period and any applicable period in which Defeasance is permitted and any yield maintenance period. We cannot assure you, however, that prepayments of the mortgage loans will conform to any level of CPR, and no representation is made that the mortgage loans will prepay at the levels of CPR shown or at any other prepayment rate.

The following tables indicate the percentage of the initial Certificate Balance of each Class of the Offered Certificates that would be outstanding after each of the dates shown at various CPRs and the corresponding weighted average life of each Class of Certificates. The tables have been prepared on the basis of the following assumptions, among others:

(a)    scheduled periodic payments including payments due at maturity of principal and/or interest on the mortgage loans will be received on a timely basis and will be distributed on the 12th day of the related month, beginning in July 2007;

(b)    the Mortgage Rate in effect for each mortgage loan as of the Cut-off Date will remain in effect to the maturity date and will be adjusted as required pursuant to the definition of Mortgage Rate;

(c)    no Mortgage Loan Seller will be required to repurchase any mortgage loan, and none of the holders of the Controlling Class (or any other Certificateholder), the Special Servicer, the Master Servicers or the holders of the Class LR Certificates will exercise its option to purchase all the mortgage loans and thereby cause an early termination of the trust fund and the holder of an AB Subordinate Companion Loan will not exercise its option to purchase the related AB Mortgage Loan and no holder of any mezzanine indebtedness will exercise its option to purchase the related mortgage loan;

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(d)    any principal prepayments on the mortgage loans will be received on their respective due dates after the expiration of any applicable Lockout Period and/or Defeasance Lockout Period and any yield maintenance period at the respective levels of CPR set forth in the tables;

(e)    no Yield Maintenance Charges or prepayment premiums are included in any allocations or calculations;

(f)    the Closing Date is June 14, 2007;

(g)    the Pass-Through Rates, initial Certificate Balance and initial Notional Amount of the respective Classes of Certificates and the Class A-MFL and Class A-JFL Regular Interests are as described in this free writing prospectus;

(h)    the Administrative Cost Rate is calculated on the Stated Principal Balance of the mortgage loans and in the same manner as interest is calculated on the mortgage loans;

(i)    the optional termination of the trust will not be exercised;

(j)    the Swap Contracts are not subject to a Swap Default; and

(k)    no reserves, earnouts or holdbacks are applied to prepay any mortgage loan in whole or in part.

To the extent that the mortgage loans have characteristics that differ from those assumed in preparing the tables set forth below, a Class of Offered Certificates may mature earlier or later than indicated by the tables. It is highly unlikely that the mortgage loans will prepay at any constant rate until maturity or that all the mortgage loans will prepay at the same rate. In addition, variations in the actual prepayment experience and the balance of the mortgage loans that prepay may increase or decrease the percentages of initial Certificate Balances (and weighted average lives) shown in the following tables. These variations may occur even if the average prepayment experience of the mortgage loans were to equal any of the specified CPR percentages. Investors are urged to conduct their own analyses of the rates at which the mortgage loans may be expected to prepay. Based on the foregoing assumptions, the following tables (except for the last two tables, which are labeled ‘‘Discount Margins for the Class A-MFL Certificates at the Respective CPRs Set Forth Below’’ and ‘‘Discount Margins for the Class A-JFL Certificates at the Respective CPRs Set Forth Below’’) indicate the resulting weighted average lives of each Class of Offered Certificates and set forth the percentage of the initial Certificate Balance of the Class of the Offered Certificate that would be outstanding after each of the dates shown at the indicated CPRs. The last two tables, which are labeled ‘‘Discount Margins for the Class A-MFL Certificates at the Respective CPRs Set Forth Below’’ and ‘‘Discount Margins for the Class A-JFL Certificates at the Respective CPRs Set Forth Below’’, show the discount margins for the Class A-MFL and Class A-JFL Certificates, respectively.

Percent of the Initial Certificate Balance
of the Class A-1 Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					85						85						85						85						85
June 12, 2009					68						68						67						67						54
June 12, 2010					45						41						37						32						7
June 12, 2011					17						4						0						0						0
June 12, 2012					0						0						0						0						0
Weighted Average Life (years)(1)					2.68						2.52						2.41						2.33						2.16

(1) The weighted average life of the Class A-1 Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-1 Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-1 Certificates.

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Percent of the Initial Certificate Balance
of the Class A-2 Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						97						94						86
June 12, 2012					0						0						0						0						0
Weighted Average Life (years)(1)					4.92						4.87						4.81						4.76						4.60

(1) The weighted average life of the Class A-2 Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-2 Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-2 Certificates.

Percent of the Initial Certificate Balance
of the Class A-3 Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						98						96						92						76
June 12, 2013					100						93						86						80						76
June 12, 2014					64						52						44						39						31
June 12, 2015					64						47						38						34						31
June 12, 2016					44						24						16						13						12
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					8.39						7.76						7.41						7.20						6.83

(1) The weighted average life of the Class A-3 Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-3 Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-3 Certificates.

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Percent of the Initial Certificate Balance
of the Class A-4 Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.79						9.77						9.73						9.69						9.47

(1) The weighted average life of the Class A-4 Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-4 Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-4 Certificates.

Percent of the Initial Certificate Balance
of the Class A-SB Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					93						93						93						93						94
June 12, 2013					74						74						74						74						75
June 12, 2014					53						53						53						53						53
June 12, 2015					31						31						31						31						32
June 12, 2016					8						8						8						8						9
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					7.14						7.14						7.14						7.14						7.16

(1) The weighted average life of the Class A-SB Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-SB Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-SB Certificates.

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Percent of the Initial Certificate Balance
of the Class A-1A Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					99						99						99						99						99
June 12, 2011					99						99						99						99						99
June 12, 2012					97						96						96						96						92
June 12, 2013					96						95						94						93						92
June 12, 2014					94						93						91						91						90
June 12, 2015					94						91						90						90						90
June 12, 2016					93						90						89						89						89
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.53						9.41						9.32						9.25						9.00

(1) The weighted average life of the Class A-1A Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-1A Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-1A Certificates.

Percent of the Initial Certificate Balance
of the Class A-M Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.91						9.91						9.91						9.88						9.66

(1) The weighted average life of the Class A-M Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-M Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-M Certificates.

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Percent of the Initial Certificate Balance
of the Class A-MFL Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.91						9.91						9.91						9.88						9.66

(1) The weighted average life of the Class A-MFL Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-MFL Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-MFL Certificates.

Percent of the Initial Certificate Balance
of the Class A-J Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.91						9.91						9.91						9.91						9.66

(1) The weighted average life of the Class A-J Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-J Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-J Certificates.

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Percent of the Initial Certificate Balance
of the Class A-JFL Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.91						9.91						9.91						9.91						9.66

(1) The weighted average life of the Class A-JFL Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-JFL Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-JFL Certificates.

Percent of the Initial Certificate Balance
of the Class B Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.99						9.93						9.91						9.91						9.69

(1) The weighted average life of the Class B Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class B Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class B Certificates.

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Percent of the Initial Certificate Balance
of the Class C Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.99						9.99						9.94						9.91						9.74

(1) The weighted average life of the Class C Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class C Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class C Certificates.

Percent of the Initial Certificate Balance
of the Class D Certificates at the Respective CPRs
Set Forth Below:

Date			0% CPR						25% CPR						50% CPR						75% CPR						100% CPR
Initial Percentage					100						100						100						100						100
June 12, 2008					100						100						100						100						100
June 12, 2009					100						100						100						100						100
June 12, 2010					100						100						100						100						100
June 12, 2011					100						100						100						100						100
June 12, 2012					100						100						100						100						100
June 12, 2013					100						100						100						100						100
June 12, 2014					100						100						100						100						100
June 12, 2015					100						100						100						100						100
June 12, 2016					100						100						100						100						100
June 12, 2017					0						0						0						0						0
Weighted Average Life (years)(1)					9.99						9.99						9.99						9.93						9.74

(1) The weighted average life of the Class D Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class D Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class D Certificates.

The discount margins set forth in the two tables below represent the increment over LIBOR that produces a monthly discount rate which, when applied to the assumed stream of cash flows to be paid on the Class A-MFL or Class A-JFL Certificates, would cause the discounted present value of such cash flows to equal the assumed purchase price as specified in the table below, in each case, expressed in decimal format and interpreted as a percentage of the initial Certificate Balance of the Class A-MFL or Class A-JFL Certificates, respectively. The two tables below assume that the Class A-MFL and Class A-JFL Certificates settle without accrued interest. The two tables below have been prepared on the basis of the modeling assumptions above.

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Discount Margins
for the Class A-MFL Certificates at the Respective CPRs
Set Forth Below:

Date

0% CPR

25% CPR

50% CPR

75% CPR

100% CPR

Disc Margin (bps)

Disc Margin (bps)

Disc Margin (bps)

Disc Margin (bps)

Disc Margin (bps)

%

%

%

%

%

%

%

%

%

Weighted Average Life (years)(1)

(1) The weighted average life of the Class A-MFL Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-MFL Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-MFL Certificates.

Discount Margins
for the Class A-JFL Certificates at the Respective CPRs
Set Forth Below:

Date

0% CPR

25% CPR

50% CPR

75% CPR

100% CPR

Disc Margin (bps)

Disc Margin (bps)

Disc Margin (bps)

Disc Margin (bps)

Disc Margin (bps)

%

%

%

%

%

%

%

%

%

Weighted Average Life (years)(1)

(1) The weighted average life of the Class A-JFL Certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-JFL Certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the principal balance of the Class A-JFL Certificates.

Yield Sensitivity of the Class X-1 and Class X-2 Certificates

The yield to maturity of the Class X-1 and Class X-2 Certificates will be highly sensitive to the rate and timing of principal payments including by reason of prepayments, principal losses and other factors described above. Investors in the Class X-1 and Class X-2 Certificates should fully consider the associated risks, including the risk that an extremely rapid rate of amortization, prepayment or other liquidation of the mortgage loans could result in the failure of such investors to recoup fully their initial investments.

Any optional termination by the holders of the Controlling Class, the Special Servicer, the Master Servicers or the holders of the Class LR Certificates would result in prepayment in full of the Certificates and would have an adverse effect on the yield of the Class X-1 and Class X-2 Certificates because a termination would have an effect similar to a principal prepayment in full

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of the mortgage loans and, as a result, investors in the Class X-1 and Class X-2 Certificates and any other Certificates purchased at premium might not fully recoup their initial investment. See ‘‘Description of the Certificates—Termination; Retirement of Certificates’’ in this free writing prospectus.

The following table indicates the approximate pre-tax yield to maturity on a corporate bond equivalent (‘‘CBE’’) basis on the Class X-1 and Class X-2 Certificates for the specified CPRs based on the assumptions set forth under ‘‘—Weighted Average Life’’ above. It was further assumed that the purchase prices of the Class X-1 and Class X-2 Certificates are as specified in the table below, expressed as a percentage of the initial Notional Amount, plus accrued interest from June 1, 2007 to the Closing Date.

The yields set forth in the following table were calculated by determining the monthly discount rates that, when applied to the assumed streams of cash flows to be paid on the Class X-1 or Class X-2 Certificates, as applicable, would cause the discounted present value of such assumed stream of cash flows to equal the assumed purchase price of such Class, and by converting such monthly rates to semi-annual corporate bond equivalent rates. Such calculation does not take into account shortfalls in collection of interest due to prepayments (or other liquidations) of the mortgage loans or the interest rates at which investors may be able to reinvest funds received by them as distributions on the Class X-1 or Class X-2 Certificates (and, accordingly, does not purport to reflect the return on any investment in the Class X-1 and Class X-2 Certificates when such reinvestment rates are considered).

The characteristics of the mortgage loans may differ from those assumed in preparing the table below. In addition, there can be no assurance that the mortgage loans will prepay in accordance with the above assumptions at any of the rates shown in the table or at any other particular rate, that the cash flows on the Class X-1 or Class X-2 Certificates will correspond to the cash flows shown herein or that the aggregate purchase price of the Class X-1 or Class X-2 Certificates will be as assumed. In addition, it is unlikely that the mortgage loans will prepay in accordance with the above assumptions at any of the specified CPRs until maturity or that all the mortgage loans will so prepay at the same rate. Timing of changes in the rate of prepayments may significantly affect the actual yield to maturity to investors, even if the average rate of principal prepayments is consistent with the expectations of investors. Investors must make their own decisions as to the appropriate prepayment assumption to be used in deciding whether to purchase the Class X-1 or Class X-2 Certificates.

For purposes of this free writing prospectus, prepayment assumptions with respect to the mortgage loans are presented in terms of the ‘‘Constant Prepayment Rate’’ or ‘‘CPR’’ model described under ’’—Weighted Average Life’’ above.

Sensitivity to Principal Prepayments of the Pre-Tax
Yields to Maturity of the Class X-1 Certificates

Assumed Purchase Price of Initial Notional Amount of Class X-1 Certificates

Prepayment Assumption (CPR)

0% CPR

25% CPR

50% CPR

75% CPR

100% CPR

%

%

%

%

%

%

Sensitivity to Principal Prepayments of the Pre-Tax
Yields to Maturity of the Class X-2 Certificates

Assumed Purchase Price of Initial Notional Amount of Class X-2 Certificates

Prepayment Assumption (CPR)

0% CPR

25% CPR

50% CPR

75% CPR

100% CPR

%

%

%

%

%

%

Effect of Loan Groups

Generally, the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-SB Certificates will only be entitled to receive distributions of principal collected or advanced with respect to the mortgage

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loans in Loan Group 1 until the Certificate Balance of the Class A-1A Certificates has been reduced to zero, and the Class A-1A Certificates will only be entitled to receive distributions of principal collected or advanced in respect of mortgage loans in Loan Group 2 until the Certificate Balances of the Class A-4 and Class A-SB Certificates have been reduced to zero. Accordingly, holders of the Class A-1A Certificates will be greatly affected by the rate and timing of payments and other collections of principal on the mortgage loans in Loan Group 2 and, in the absence of losses, should be largely unaffected by the rate and timing of payments and other collections of principal on the mortgage loans in Loan Group 1. Investors should take this into account when reviewing this ‘‘Yield and Maturity Considerations’’ section.

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Certain Federal Income Tax Consequences

Upon the issuance of the Certificates, Cadwalader, Wickersham & Taft LLP, special counsel to the Depositor, will deliver its opinion that, assuming (1) the making of appropriate elections, (2) compliance with the provisions of the Pooling and Servicing Agreement, (3) compliance with all provisions of the 2007-LDP10 Pooling and Servicing Agreement, the 2007-CIBC18 Pooling and Servicing Agreement and other related documents and any amendments thereto and the continued qualification of the REMICs formed under the 2007-LDP10 Pooling and Servicing Agreement and the 2007-CIBC18 Pooling and Servicing Agreement and (4) compliance with applicable changes in the Internal Revenue Code of 1986, as amended (the ‘‘Code’’), for federal income tax purposes, designated portions of the trust fund will qualify as two separate real estate mortgage investment conduits (the ‘‘Upper-Tier REMIC’’ and the ‘‘Lower-Tier REMIC,‘‘ respectively, and each, a ‘‘REMIC’’) within the meaning of Sections 860A through 860G (the ‘‘REMIC Provisions’’) of the Code, and (1) the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class X-1, Class X-2, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and Class NR Certificates and the Class A-MFL and Class A-JFL Regular Interests will evidence the ‘‘regular interests’’ in the Upper-Tier REMIC and (2) the Class R Certificates will represent the sole class of ‘‘residual interest’’ in the Upper-Tier REMIC and the Class LR Certificates will represent the sole class of ‘‘residual interests’’ in the Lower-Tier REMIC, within the meaning of the REMIC Provisions. The Certificates (other than the Class A-MFL, Class A-JFL, Class R and Class LR Certificates) and the Class A-MFL and Class A-JFL Regular Interests are ‘‘Regular Certificates’’ as defined in the prospectus. In addition, in the opinion of Cadwalader, Wickersham & Taft LLP, the portion of the trust fund consisting of the Class A-MFL and Class A-JFL Regular Interests, the Swap Contracts and the Floating Rate Accounts will be treated as a grantor trust for federal income tax purposes under subpart E, part I of subchapter J of the Code, and the Class A-MFL and Class A-JFL Certificates will represent undivided beneficial interests in the related portions of the grantor trust.

The Lower-Tier REMIC will hold the mortgage loans and their proceeds, and the Trust’s allocable share of any property that secured a mortgage loan that was acquired by foreclosure or deed in lieu of foreclosure (in the case of the 599 Lexington Avenue Loan and the AmeriCold Portfolio Loan, a beneficial interest in an allocable portion of the property securing the 599 Lexington Avenue Whole Loan and the AmeriCold Portfolio Whole Loan, respectively, and in the case of any AB Mortgage Loan, an allocable portion of the property securing the related AB Mortgage Loan Pair), and will issue certain uncertificated classes of regular interests (the ‘‘Lower-Tier REMIC Regular Interests’’) and the Class LR Certificates, which will represent the sole class of residual interest in the Lower-Tier REMIC. The Upper-Tier REMIC will hold the Lower-Tier REMIC Regular Interests and their proceeds and will issue the Regular Certificates (other than the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests as regular interests in the Upper-Tier REMIC and the Class R Certificates as the sole class of residual interest in the Upper-Tier REMIC.

Because they represent regular interests, each Class of Offered Certificates (other than the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests generally will be treated as newly originated debt instruments for federal income tax purposes. Holders of the Classes of Offered Certificates will be required to include in income all interest on the regular interests represented by their Certificates in accordance with the accrual method of accounting, regardless of a Certificateholder’s usual method of accounting. [It is anticipated that the Class X-1 and Class X-2 Certificates will be issued with original issue discount, and that the other Classes of Offered Certificates (other than the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests will be issued at a premium for federal income tax purposes.] The prepayment assumption that will be used in determining the rate of accrual of original issue discount, if any, and market discount or whether any such discount is de minimis, and that may be used to amortize premium, if any, for federal income tax purposes will be based on the assumption that subsequent to the date of any determination the mortgage loans will prepay at a rate equal to a CPR of 0% (the ‘‘Prepayment Assumption’’). No representation is

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made that the mortgage loans will prepay at that rate or at any other rate. See ‘‘Certain Federal Income Tax Consequences—Federal Income Tax Consequences for REMIC Certificates—Taxation of Regular Certificates’’ in the prospectus. For purposes of this discussion and the discussion in the prospectus, holders of the Class A-MFL and Class A-JFL Certificates will be required to allocate their purchase prices and disposition proceeds between their interest in the Class A-MFL or Class A-JFL Regular Interest, as applicable, and the related Swap Contract for purposes of accruing discount or premium or computing gain or loss upon disposition of the Class A-MFL or Class A-JFL Regular Interest, as applicable, and with respect to the Class A-MFL and Class A-JFL Certificates, references in such discussion to the ‘‘regular interests’’ are to the Class A-MFL or Class A-JFL Regular Interest, as applicable, and amounts allocable thereto.

Although unclear for federal income tax purposes, it is anticipated that the Class X-1 and Class X-2 Certificates will be considered to be issued with original issue discount in an amount equal to the excess of all distributions of interest expected to be received on such Class (assuming the WAC Rate changes in accordance with the Prepayment Assumption in the manner set forth in the prospectus), over their respective issue prices (including accrued interest from June 1, 2007). Any ‘‘negative’’ amounts of original issue discount on the Class X-1 and Class X-2 Certificates attributable to rapid prepayments with respect to the mortgage loans will not be deductible currently, but may be offset against future positive accruals of original issue discount, if any. Finally, a holder of any Class X-1 or Class X-2 Certificate may be entitled to a loss deduction to the extent it becomes certain that such holder will not recover a portion of its basis in such Certificate, assuming no further prepayments. In the alternative, it is possible that rules similar to the ‘‘noncontingent bond method’’ of the OID Regulations, as defined in the prospectus, may be promulgated with respect to these Certificates.

Yield Maintenance Charges actually collected will be distributed among the holders of the respective Classes of Offered Certificates (other than the Class A-MFL and Class A-JFL Certificates) and the Class A-MFL and Class A-JFL Regular Interests as described under ‘‘Description of the Certificates—Allocation of Yield Maintenance Charges and Prepayment Premiums’’ in this free writing prospectus. It is not entirely clear under the Code when the amount of Yield Maintenance Charges so allocated should be taxed to the holder of an Offered Certificate, but it is not expected, for federal income tax reporting purposes, that Yield Maintenance Charges will be treated as giving rise to any income to the holder of an Offered Certificate prior to a Master Servicer’s actual receipt of a Yield Maintenance Charge. Yield Maintenance Charges, if any, may be treated as ordinary income, although authority exists for treating such amounts as capital gain if they are treated as paid upon the retirement or partial retirement of a Certificate. Certificateholders should consult their own tax advisers concerning the treatment of Yield Maintenance Charges. Any Yield Maintenance Charge paid to the Swap Counterparty with respect to the Class A-MFL Regular Interest will be treated as received by the holders of the Class A-MFL Certificates and paid as a periodic payment by the holders of the Class A-MFL Certificates under the A-MFL Swap Contract and any Yield Maintenance Charge paid to the Swap Counterparty with respect to the Class A-JFL Regular Interest will be treated as received by the holders of the Class A-JFL Certificates and paid as a periodic payment by the holders of the Class A-JFL Certificates under the A-JFL Swap Contract.

Except as provided below, the Offered Certificates will be treated as ‘‘real estate assets’’ within the meaning of Section 856(c)(5)(B) of the Code in the hands of a real estate investment trust or ‘‘REIT’’ and interest (including original issue discount, if any) on the Offered Certificates will be interest described in Section 856(c)(3)(B) of the Code, and the Offered Certificates will be treated as ‘‘loans . . . secured by an interest in real property which is . . . residential real property’’ under Section 7701(a)(19)(C)(v) of the Code for a domestic building and loan association to the extent the mortgage loans are secured by multifamily and manufactured housing community properties. As of the Cut-off Date, mortgage loans representing approximately 18.0% of the Initial Pool Balance are secured by multifamily properties and manufactured housing community properties. Holders of the Offered Certificates should consult their own tax advisors whether the foregoing percentage or some other percentage applies to their certificates. In addition,

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(i) mortgage loans that have been defeased with U.S. Treasury obligations and (ii) the Class A-MFL and Class A-JFL Certificates to the extent of a holder’s basis, if any, allocable to the respective Swap Contract will not qualify for the foregoing treatments. Moreover, the Offered Certificates, other than the Class A-MFL and A-JFL Certificates, which represent interests in their respective Swap Contract, in addition to the interests in the Class A-MFL and Class A-JFL Regular Interests, will be ‘‘qualified mortgages’’ for another REMIC within the meaning of Section 860G(a)(3) of the Code. See ‘‘Certain Federal Income Tax Consequences—Federal Income Tax Consequences for REMIC Certificates’’ in the prospectus.

For further information regarding the federal income tax consequences of investing in the Offered Certificates, see ‘‘Certain Federal Income Tax Consequences—Federal Income Tax Consequences for REMIC Certificates—Taxation of Regular Certificates’’ in the prospectus.

Taxation of the Swap Contracts

Each holder of a Class A-MFL or Class A-JFL Certificate will be treated for federal income tax purposes as having entered into its proportionate share of the rights of such Class under the related Swap Contract. Holders of the Class A-MFL or Class A-JFL Certificates must allocate the price they pay for their Certificates between their interests in the Class A-MFL or Class A-JFL Regular Interest, as applicable, and their respective Swap Contract based on their relative market values. The portion, if any, allocated to the Swap Contract will be treated as a swap premium (the ‘‘Swap Premium’’) paid or received by the holders of the Class A-MFL or Class A-JFL Certificates. If the Swap Premium is paid by a holder, it will reduce the purchase price allocable to the Class A-MFL or Class A-JFL Regular Interest. If the Swap Premium is received by the holders, it will be deemed to have increased the purchase price for the Class A-MFL or Class A-JFL Regular Interests. If their respective Swap Contract is ‘‘on-market,’’ no amount of the purchase price will be allocable to it. [Based on the anticipated issue price of the Class A-MFL and Class A-JFL Certificates, it is anticipated that the Class A-MFL and Class A-JFL Regular Interests will be issued at a premium and that a Swap Premium will be deemed to be paid to the holders of the Class A-MFL and Class A-JFL Certificates.] The holder of a Class A-MFL or Class A-JFL Certificate will be required to amortize any Swap Premium under a level payment method as if the Swap Premium represented the present value of a series of equal payments made or received over the life of their respective Swap Contract (adjusted to take into account decreases in the notional principal amount), discounted at a rate equal to the rate used to determine the amount of the Swap Premium (or some other reasonable rate). Prospective purchasers of the Class A-MFL and Class A-JFL Certificates should consult their own tax advisors regarding the appropriate method of amortizing any Swap Premium. Regulations promulgated by the U.S. Department of Treasury (‘‘Treasury’’) treat a non-periodic payment made under a swap contract as a loan for federal income tax purposes if the payment is ‘‘significant.’’ It is not known whether any Swap Premium would be treated in part as a loan under Treasury regulations.

Under Treasury regulations (i) all taxpayers must recognize periodic payments with respect to a notional principal contract under the accrual method of accounting, and (ii) any periodic payments received under the Swap Contract must be netted against payments made under the Swap Contract and deemed made or received as a result of the Swap Premium over the recipient’s taxable year, rather than accounted for on a gross basis. Net income or deduction with respect to net payments under a notional principal contract for a taxable year should constitute ordinary income or ordinary deduction. The IRS could contend the amount is capital gain or loss, but such treatment is unlikely, at least in the absence of further regulations. Any regulations requiring capital gain or loss treatment presumably would apply only prospectively. Individuals may be limited in their ability to deduct any such net deduction and should consult their tax advisors prior to investing in the Class A-MFL or Class A-JFL Certificates.

Any amount of proceeds from the sale, redemption or retirement of a Class A-MFL or Class A-JFL Certificate that is considered to be allocated to the holder’s rights under their respective Swap Contract or that the holder is deemed to have paid to the purchaser would be considered a ‘‘termination payment’’ allocable to such Certificate under Treasury regulations. A holder of a

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Class A-MFL or Class A-JFL Certificate will have gain or loss from such a termination equal to (A)(i) any termination payment it received or is deemed to have received minus (ii) the unamortized portion of the Swap Premium paid (or deemed paid) by the holder upon entering into or acquiring its interest in its Swap Contract or (B)(i) any termination payment it paid or is deemed to have paid minus (ii) the unamortized portion of the Swap Premium received upon entering into or acquiring its interest in its Swap Contract. Gain or loss realized upon the termination of its Swap Contract will generally be treated as capital gain or loss. Moreover, in the case of a bank or thrift institution, Section 582(c) of the Code would likely not apply to treat such gain or loss as ordinary.

The Class A-MFL and Class A-JFL Certificates, representing a beneficial ownership in the Class A-MFL and Class A-JFL Regular Interests, respectively, and in their respective Swap Contract, may constitute positions in a straddle, in which case the straddle rules of Section 1092 of the Code would apply. A selling holder’s capital gain or loss with respect to such regular interest would be short term because the holding period would be tolled under the straddle rules. Similarly, capital gain or loss realized in connection with the termination of the Swap Contract would be short term. If the holder of a Class A-MFL or Class A-JFL Certificate incurred or continued to incur indebtedness to acquire or hold such Class A-MFL or Class A-JFL Certificate, the holder would generally be required to capitalize a portion of the interest paid on such indebtedness until termination of the related Swap Contract.

Withholding and Backup Withholding.    Pursuant to the Pooling and Servicing Agreement (i) the Trustee shall deliver or cause to be delivered the federal taxpayer identification number of the grantor trust that holds the Swap Contracts on an IRS Form W-9 to the Swap Counterparty as soon as possible after the Swap Contracts are entered into (but no later than the first payment date under the Swap Contracts; provided, that the Trustee has received the applicable taxpayer identification number from the IRS by such date (and the Trustee is obligated to use its best efforts to obtain such taxpayer identification number from the IRS by such date)) and, if requested by the Swap Counterparty (unless not permitted under federal income tax law) an IRS Form W-8IMY, (ii) each non-exempt Class A-MFL and Class A-JFL Certificateholder shall be obligated pursuant to the Pooling and Servicing Agreement to provide applicable certification to the Paying Agent (with copies directly from such Certificateholder to the Swap Counterparty) to enable the Paying Agent to make payments to the Class A-MFL and Class A-JFL Certificateholders without federal withholding or backup withholding, and (iii) as authorized by the Class A-MFL and Class A-JFL Certificateholders under the Pooling and Servicing Agreement, the Trustee may forward any such certification received to the Swap Counterparty if requested. If the above obligations are satisfied, under current law, no U.S. federal withholding or backup withholding taxes will be required to be deducted or withheld from payments by the Swap Counterparty to the Trust Fund. For an additional discussion of withholding and backup withholding, see ‘‘Certain Federal Income Tax Consequences’’ and ‘‘Federal Income Tax Consequences for REMIC Certificates —Backup Withholding’’ in the Prospectus.

Certain ERISA Considerations

A fiduciary of any retirement plan or other employee benefit plan or arrangement, including individual retirement accounts and annuities, Keogh plans and collective investment funds and separate accounts in which those plans, annuities, accounts or arrangements are invested, including insurance company general accounts, that is subject to the fiduciary responsibility rules of the Employee Retirement Income Security Act of 1974, as amended (‘‘ERISA’’), or Section 4975 of the Code (an ‘‘ERISA Plan’’) or which is a governmental plan, as defined in Section 3(32) of ERISA, or a church plan, as defined in Section 3(33) of ERISA and for which no election has been made under Section 410(d) of the Code, subject to any federal, state or local law (‘‘Similar Law’’) which is, to a material extent, similar to the foregoing provisions of ERISA or the Code (collectively, with an ERISA Plan, a ‘‘Plan’’) should review with its legal advisors whether the purchase or holding of Offered Certificates could give rise to a transaction that is prohibited or is not otherwise permitted under ERISA, the Code or Similar Law or whether there exists any

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statutory, regulatory or administrative exemption applicable thereto. Moreover, each Plan fiduciary should determine whether an investment in the Offered Certificates is appropriate for the Plan, taking into account the overall investment policy of the Plan and the composition of the Plan’s investment portfolio.

The U.S. Department of Labor has issued to J.P. Morgan Securities Inc. an individual prohibited transaction exemption, PTE 2002-19, 67 Fed. Reg. 14,979 (March 28, 2002) (the ‘‘Exemption’’). The Exemption generally exempts from the application of the prohibited transaction provisions of Sections 406 and 407 of ERISA, and the excise taxes imposed on the prohibited transactions pursuant to Sections 4975(a) and (b) of the Code, certain transactions, among others, relating to the servicing and operation of pools of mortgage loans, such as the pool of mortgage loans held by the trust, and the purchase, sale and holding of mortgage pass-through certificates, such as the Offered Certificates, underwritten by J.P. Morgan Securities Inc., provided that certain conditions set forth in the Exemption are satisfied.

The Exemption sets forth five general conditions that must be satisfied for a transaction involving the purchase, sale and holding of the Offered Certificates to be eligible for exemptive relief. First, the acquisition of the Offered Certificates by a Plan must be on terms (including the price paid for the Certificates) that are at least as favorable to the Plan as they would be in an arm’s-length transaction with an unrelated party. Second, the Offered Certificates at the time of acquisition by the Plan must be rated in one of the four highest generic rating categories by S&P, Moody’s, Fitch, DBRS Limited or DBRS, Inc. Third, the Trustee cannot be an affiliate of any other member of the Restricted Group other than an Underwriter. The ‘‘Restricted Group’’ consists of any Underwriter, the Depositor, the Trustee, the Master Servicers, the Special Servicer, any sub-servicer, the Swap Counterparty, any entity that provides insurance or other credit support to the trust fund and any borrower with respect to mortgage loans constituting more than 5% of the aggregate unamortized principal balance of the mortgage loans as of the date of initial issuance of the Offered Certificates, and any affiliate of any of the foregoing entities. Fourth, the sum of all payments made to and retained by the Underwriters must represent not more than reasonable compensation for underwriting the Offered Certificates, the sum of all payments made to and retained by the Depositor pursuant to the assignment of the mortgage loans to the trust fund must represent not more than the fair market value of the mortgage loans and the sum of all payments made to and retained by the Master Servicers, the Special Servicer and any sub-servicer must represent not more than reasonable compensation for that person’s services under the Pooling and Servicing Agreement and reimbursement of the person’s reasonable expenses in connection therewith. Fifth, the investing Plan must be an accredited investor as defined in Rule 501(a)(1) of Regulation D of the Securities and Exchange Commission under the Securities Act of 1933, as amended.

It is a condition of the issuance of the Offered Certificates that they have the ratings specified on the cover page. As of the Closing Date, the third general condition set forth above will be satisfied with respect to the Offered Certificates. A fiduciary of a Plan contemplating purchasing an Offered Certificate in the secondary market must make its own determination that, at the time of purchase, the Offered Certificates continue to satisfy the second and third general conditions set forth above. A fiduciary of a Plan contemplating purchasing an Offered Certificate, whether in the initial issuance of the related Certificates or in the secondary market, must make its own determination that the first, fourth and fifth general conditions set forth above will be satisfied with respect to the related Offered Certificate.

Further, the Exemption imposes additional requirements for purchases by Plans of classes of Certificates subject to an interest rate swap contract, such as the Class A-MFL and Class A-JFL Certificates that benefit from the related Swap Contract:

	1.	The swap contract must be an ‘‘eligible swap’’ with an ‘‘eligible swap counterparty’’ (as each term is defined in PTE 2000-58);

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	2.	If the swap contract ceases to be an eligible swap and the swap contract cannot be replaced, the Trustee must notify the Certificateholders that the Exemption will cease to apply with respect to the class of Certificates subject to the swap contract; and

	3.	The fiduciary of a Plan purchasing any class of Certificates subject to the swap contract must be either:

	•	a ‘‘qualified professional asset manager’’ (as defined in PTE 84-14);

	•	an ‘‘in-house asset manager’’ (as defined in PTE 96-23); or

	•	a Plan fiduciary with total assets under management of at least $100 million at the time of the acquisition of the Certificates by the Plan.

The Depositor believes that each of the Swap Contracts will meet all of the relevant requirements to be considered an ‘‘eligible swap’’ as of the Closing Date. However, any Plan contemplating purchase of the Class A-MFL or Class A-JFL Certificates must make its own determination that all of the additional requirements of the Exemption are satisfied as of the date of such purchase and during the time that the Plan holds the Class A-MFL or Class A-JFL Certificates.

The Exemption also requires that the trust fund meet the following requirements: (1) the trust fund must consist solely of assets of the type that have been included in other investment pools; (2) certificates in those other investment pools must have been rated in one of the four highest categories of S&P, Moody’s or Fitch for at least one year prior to the Plan’s acquisition of Offered Certificates; and (3) certificates in those other investment pools must have been purchased by investors other than Plans for at least one year prior to any Plan’s acquisition of Offered Certificates.

If the general conditions of the Exemption are satisfied, the Exemption may provide an exemption from the restrictions imposed by Sections 406(a) and 407(a) of ERISA (as well as the excise taxes imposed by Sections 4975(a) and (b) of the Code by reason of Sections 4975(c)(1)(A) through (D) of the Code) in connection with (1) the direct or indirect sale, exchange or transfer of Offered Certificates in the initial issuance of Certificates between the Depositor or the Underwriters and a Plan when the Depositor, any of the Underwriters, the Trustee, either Master Servicer, the Special Servicer, a sub-servicer or a borrower is a party in interest with respect to the investing Plan, (2) the direct or indirect acquisition or disposition in the secondary market of the Offered Certificates by a Plan and (3) the holding of Offered Certificates by a Plan. However, no exemption is provided from the restrictions of Sections 406(a)(1)(E), 406(a)(2) and 407 of ERISA for the acquisition or holding of an Offered Certificate on behalf of an ‘‘Excluded Plan’’ by any person who has discretionary authority or renders investment advice with respect to the assets of the Excluded Plan. For purposes of this free writing prospectus, an ‘‘Excluded Plan’’ is a Plan sponsored by any member of the Restricted Group.

If certain specific conditions of the Exemption are also satisfied, the Exemption may provide an exemption from the restrictions imposed by Sections 406(b)(1) and (b)(2) of ERISA and the taxes imposed by Section 4975(c)(1)(E) of the Code in connection with (1) the direct or indirect sale, exchange or transfer of Offered Certificates in the initial issuance of Certificates between the Depositor or the Underwriters and a Plan when the person who has discretionary authority or renders investment advice with respect to the investment of Plan assets in those Certificates is (a) a borrower with respect to 5% or less of the fair market value of the mortgage loans or (b) an affiliate of that person, (2) the direct or indirect acquisition or disposition in the secondary market of Offered Certificates by a Plan and (3) the holding of Offered Certificates by a Plan.

Further, if certain specific conditions of the Exemption are satisfied, the Exemption may provide an exemption from the restrictions imposed by Sections 406(a), 406(b) and 407(a) of ERISA, and the taxes imposed by Sections 4975(a) and (b) of the Code by reason of Section 4975(c) of the Code for transactions in connection with the servicing, management and operation of the pool of mortgage loans.

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Before purchasing an Offered Certificate, a fiduciary of a Plan should itself confirm that the specific and general conditions and the other requirements set forth in the Exemption would be satisfied at the time of purchase. In addition to making its own determination as to the availability of the exemptive relief provided in the Exemption, the Plan fiduciary should consider the availability of any other prohibited transaction exemptions, including with respect to governmental plans, any exemptive relief afforded under Similar Law. See ‘‘Certain ERISA Considerations’’ in the prospectus. A purchaser of an Offered Certificate should be aware, however, that even if the conditions specified in one or more exemptions are satisfied, the scope of relief provided by an exemption may not cover all acts which might be construed as prohibited transactions.

Recently enacted legislation, the Pension Protection Act of 2006, makes significant changes to ERISA rules relating to prohibited transactions and plan assets, among other areas. Potential investors should consult with their advisors regarding the consequences of these changes.

THE SALE OF OFFERED CERTIFICATES TO A PLAN IS IN NO RESPECT A REPRESENTATION BY THE DEPOSITOR OR ANY OF THE UNDERWRITERS THAT THIS INVESTMENT MEETS ANY RELEVANT LEGAL REQUIREMENTS WITH RESPECT TO INVESTMENTS BY PLANS GENERALLY OR ANY PARTICULAR PLAN, OR THAT THIS INVESTMENT IS APPROPRIATE FOR PLANS GENERALLY OR ANY PARTICULAR PLAN.

Legal Matters

The validity of the Certificates will be passed upon for the Depositor by Cadwalader, Wickersham & Taft LLP, and for the Underwriters by Thacher Proffitt & Wood LLP. In addition, certain federal income tax matters will be passed upon for the Depositor by Cadwalader, Wickersham & Taft LLP.

Certain Legal Aspects of the Mortgage Loans

The following discussion summarizes certain legal aspects of mortgage loans secured by real property in New York, Illinois and California that is general in nature. This summary does not purport to be complete and is qualified in its entirety by reference to the applicable federal and state laws governing the mortgage loans.

Seventeen (17) of the Mortgaged Properties, securing mortgage loans representing approximately 12.3% of the Initial Pool Balance (12 Mortgaged Properties securing mortgage loans in Loan Group 1, representing approximately 12.5% of the Initial Group 1 Balance, and 5 Mortgaged Properties securing mortgage loans in Loan Group 2, representing approximately 11.4% of the Initial Group 2 Balance), are located in the State of New York. Mortgage loans in New York are generally secured by mortgages on the related real estate. Foreclosure of a mortgage is usually accomplished in judicial proceedings. After an action for foreclosure is commenced, and if the lender secures a ruling that is entitled to foreclosure ordinarily by motion for summary judgment, the court then appoints a referee to compute the amount owed together with certain costs, expenses and legal fees of the action. The lender then moves to confirm the referee’s report and enter a final judgment of foreclosure and sale. Public notice of the foreclosure sale, including the amount of the judgment, is given for a statutory period of time, after which the mortgaged real estate is sold by a referee at public auction. There is no right of redemption after the foreclosure of sale. In certain circumstances, deficiency judgments may be obtained. Under mortgages containing a statutorily sanctioned covenant, the lender has a right to have a receiver appointed without notice and without regard to the adequacy of the mortgaged real estate as security for the amount owned.

Thirty-one (31) of the Mortgaged Properties, securing mortgage loans representing approximately 10.6% of the Initial Pool Balance (23 Mortgaged Properties securing mortgage loans in Loan Group 1, representing approximately 10.4% of the Initial Loan Group 1 Balance, and 8 Mortgaged Properties securing mortgage loans in Loan Group 2, representing

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approximately 11.1% of the Initial Loan Group 2 Balance), are located in the State of Texas. Mortgage loans in Texas are generally secured by deeds of trust on the related real estate. Foreclosure of a deed of trust in Texas may be accomplished by a non-judicial trustee’s sale under a specific provision in the deed of trust or by judicial foreclosure. Any such action must be brought within 4 years after the accrual of the cause of action. With respect to a judicial foreclosure, notwithstanding anything in the deed of trust to the contrary, the mortgagee must give the borrower written notice delivered by certified mail that it is in default and provide 20 days for the borrower to cure such default before any judicial foreclosure is permitted. With respect to a trustee’s sale, the lender must give the borrower written notice delivered by certified mail that it is in default and provide 21 days for the borrower to cure such default before any judicial foreclosure is permitted. Public notice of either trustee’s sale is continued for at least 21 days in statutory form after which the mortgaged real estate may be sold by the trustee. Any trustee sale must be made pursuant to the terms of the deed of trust at a public venue at the county courthouse of the county in which any portion of the real estate is located, between the hours of 10 A.M. and 4 P.M. on the first Tuesday of the month after the month in which the statutory notice period has been satisfied in an area designated by the commissioners’ court. Under Texas law, the borrower does not have the right to redeem the real estate after a judicial foreclosure or trustee’s sale. Under Texas law, if the sale price at a judicial foreclosure or trustee’s sale is less than the fair market value of the real estate, any obligor (including any guarantor) may be required to offset the deficiency between the fair market value and the sale price.

Other Aspects.    Please see the discussion under ‘‘Certain Legal Aspects of the Mortgage Loans’’ in the accompanying prospectus regarding other legal aspects of the Mortgage Loans that you should consider prior to making any investment in the Certificates.

Ratings

It is a condition to issuance that the Offered Certificates be rated not lower than the following ratings by Moody’s Investors Service, Inc. (‘‘Moody’s’’) and Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc. (‘‘S&P’’ and, together with Moody’s, the ‘‘Rating Agencies’’):

Class			Moody’s			S&P
A-1			Aaa			AAA
A-2			Aaa			AAA
A-3			Aaa			AAA
A-4			Aaa			AAA
A-SB			Aaa			AAA
A-1A			Aaa			AAA
X-1			Aaa			AAA
X-2			Aaa			AAA
A-M			Aaa			Aaa
A-MFL			Aaa			AAA
A-J			Aaa			AAA
A-JFL			Aaa			AAA
B			Aa2			AA
C			Aa3			AA−
D			A2			A

A securities rating on mortgage pass-through certificates addresses the likelihood of the timely receipt by their holders of interest and the ultimate repayment of principal to which they are entitled by February 12, 2049 (the ‘‘Rated Final Distribution Date’’). The rating takes into consideration the credit quality of the pool of mortgage loans, structural and legal aspects associated with the certificates, and the extent to which the payment stream from the pool of mortgage loans is adequate to make payments required under the certificates. The ratings on the Offered Certificates do not, however, constitute a statement regarding the likelihood, timing or

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frequency of prepayments (whether voluntary or involuntary) on the mortgage loans or the degree to which the payments might differ from those originally contemplated. In addition, a rating does not address the likelihood or frequency of voluntary or mandatory prepayments of mortgage loans, payment of prepayment premiums, Yield Maintenance Charges or net default interest. In addition, S&P’s ratings on the Certificates do not address the application of Net Aggregate Prepayment Interest Shortfalls to the Certificates.

Also, the rating does not represent any assessment of the yield to maturity that investors may experience or the possibility that the Class X-1 and Class X-2 Certificateholders might not fully recover their investments in the event of rapid prepayments of the mortgage loans (including both voluntary and involuntary prepayments). As described in this free writing prospectus, the amounts payable with respect to the Class X-1 and Class X-2 Certificates consist only of interest. If the entire pool were to prepay in the initial month, with the result that the Class X-1 and Class X-2 Certificateholders receive only a single month’s interest and thus suffer a nearly complete loss of their investment, all amounts ‘‘due’’ to such Certificateholders will nevertheless have been paid, and such result is consistent with the ratings received on the Class X-1 and Class X-2 Certificates. The Notional Amount upon which interest is calculated with respect to the Class X-1 and Class X-2 Certificates is subject to reduction in connection with each reduction of the Certificate Balance of any other Class of Certificates and the Class A-MFL and Class A-JFL Regular Interests, whether as a result of principal payments or the allocation of Collateral Support Deficits. The ratings on the Class X-1 and Class X-2 Certificates do not address the timing or magnitude of reduction of such Notional Amount, but only the obligation to pay interest timely on such Notional Amount as so reduced from time to time. Accordingly, the ratings on the Class X-1 and Class X-2 Certificates should be evaluated independently from similar ratings on other types of securities.

A rating on the Class A-MFL and/or Class A-JFL Certificates does not represent any assessment of whether the floating interest rate on those Certificates will convert to a fixed rate. With respect to the Class A-MFL and/or Class A-JFL Certificates, the Rating Agencies are only rating the receipt of interest up to the Pass-Through Rate applicable to the Class A-MFL or Class A-JFL Regular Interest, as applicable, and are not rating the receipt of interest accrued at LIBOR plus         % or         %, as applicable. In addition, the ratings do not address any shortfalls or delays in payment that investors in the Class A-MFL and/or Class A-JFL Certificates may experience as a result of the conversion of the Pass-Through Rate on those Certificates from a rate based on LIBOR to a fixed rate.

We cannot assure you as to whether any rating agency not requested to rate the Offered Certificates will nonetheless issue a rating to any Class of Offered Certificates and, if so, what the rating would be. A rating assigned to any Class of Offered Certificates by a rating agency that has not been requested by the Depositor to do so may be lower than the rating assigned to such Class by the Rating Agencies.

The ratings on the Offered Certificates should be evaluated independently from similar ratings on other types of securities. A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time by the assigning rating agency.

Pursuant to an agreement between the Depositor and each of the Rating Agencies, the Rating Agencies will provide ongoing ratings feedback with respect to the Offered Certificates for as long as they remain issued and outstanding.

Legal Investment

The Offered Certificates will not constitute ‘‘mortgage related securities’’ for purposes of the Secondary Mortgage Market Enhancement Act of 1984, as amended. The appropriate characterization of the Offered Certificates under various legal investment restrictions, and thus the ability of investors subject to these restrictions to purchase Offered Certificates, is subject to significant interpretive uncertainties.

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No representations are made as to the proper characterization of the Offered Certificates for legal investment, financial institution regulatory, or other purposes, or as to the ability of particular investors to purchase the Offered Certificates under applicable legal investment restrictions. The uncertainties described above (and any unfavorable future determinations concerning the legal investment or financial institution regulatory characteristics of the Offered Certificates) may adversely affect the liquidity of the Offered Certificates.

Accordingly, all investors whose investment activities are subject to legal investment laws and regulations, regulatory capital requirements, or review by regulatory authorities should consult with their own legal advisors in determining whether and to what extent the Offered Certificates will constitute legal investments for them or are subject to investment, capital, or other restrictions.

See ‘‘Legal Investment’’ in the prospectus.

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INDEX OF DEFINED TERMS

			Page
2007-CIBC18 Pooling and Servicing Agreement			S-98
2007-LDP10 Pooling and Servicing Agreement			S-96
30/360			S-105
30/360 Basis			S-137
599 Lexington Avenue A1 Pari Passu Companion Loan			S-95
599 Lexington Avenue Intercreditor Agreement			S-96
599 Lexington Avenue Loan			S-95
599 Lexington Avenue Majority Holders			S-96
599 Lexington Avenue Master Servicer			S-96
599 Lexington Avenue Mortgaged Property			S-95
599 Lexington Avenue Notes			S-95
599 Lexington Avenue Pari Passu Companion Loans			S-95
599 Lexington Avenue Special Servicer			S-96
599 Lexington Avenue Whole Loan			S-95
AB Mortgage Loan			S-92
AB Mortgage Loan Pair			S-92
AB Subordinate Companion Loan			S-92
Acceptable Insurance Default			S-198
Accrued Interest from Recoveries			S-161
Actual/360 Basis			S-105
Additional Exclusions			S-198
Administrative Cost Rate			S-160
Advances			S-173
A-JFL Floating Rate Account			S-148
A-JFL Significance Estimate			S-188
A-JFL Significance Percentage			S-188
A-JFL Swap Contract			S-187
A-JFL Swap Default			S-188
AmeriCold Portfolio Directing Certificateholder			S-98
AmeriCold Portfolio Intercreditor Agreement			S-98
AmeriCold Portfolio Loan			S-97
AmeriCold Portfolio Mortgaged Property			S-98
AmeriCold Portfolio Noteholders			S-98
AmeriCold Portfolio Notes			S-98
AmeriCold Portfolio Pari Passu Companion Loans			S-98
AmeriCold Portfolio Primary Servicer			S-100
AmeriCold Portfolio Special Servicer			S-100
AmeriCold Portfolio Whole Loan			S-98
A-MFL Floating Rate Account			S-148
A-MFL Significance Estimate			S-186
A-MFL Significance Percentage			S-186
A-MFL Swap Contract			S-186
A-MFL Swap Default			S-187
Appraisal Reduction			S-176
Appraisal Reduction Event			S-176
Asset Status Report			S-193
Assumed Final Distribution Date			S-168
Assumed Scheduled Payment			S-164
Authenticating Agent			S-130
Available Distribution Amount			S-148
Base Interest Fraction			S-166
Capmark			S-132
Capmark Financial Group			S-133
Capmark Servicing Standard			S-191
CBE			S-224
Certificate Account			S-147
Certificate Balance			S-143
Certificate Owner			S-144
Certificate Registrar			S-130
Certificateholders			S-91
Certificates			S-142
Class			S-142
Class A Certificates			S-142
Class A-JFL Available Funds			S-149
Class A-JFL Interest Distribution Amount			S-161
Class A-JFL Principal Distribution Amount			S-165
Class A-JFL Regular Interest			S-142
Class A-MFL Available Funds			S-149
Class A-MFL Interest Distribution Amount			S-160
Class A-MFL Principal Distribution Amount			S-165
Class A-MFL Regular Interest			S-142
Class A-SB Planned Principal Balance			S-164
Class X Certificates			S-142
Class X-1 Components			S-158
Class X-1 Strip Rate			S-158
Class X-2 Component			S-159
Class X-2 Strip Rate			S-159
Clearstream			S-144
Closing Date			S-91
CMBS			S-134

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			Page
CMSA Investor Reporting Package			S-181
Code			S-226
cold storage facilities			S-67
Collateral Support Deficit			S-171
Companion Loan			S-92
Compensating Interest Payment			S-140
Controlling Class			S-196
Controlling Class Certificateholder			S-196
Corrected Mortgage Loan			S-193
Crossed Loan			S-123
Cross-Over Date			S-155
Custodian			S-117
Cut-off Date			S-90
Cut-off Date Balance			S-90
Cut-off Date LTV Ratios			S-116
Defeasance			S-108
Defeasance Lockout Period			S-108
Depositor			S-91
Depositories			S-144
Determination Date			S-146
Direct Participants			S-144
Directing Certificateholder			S-195
Discount Rate			S-106
Distributable Certificate Interest			S-161
Distribution Account			S-147
Distribution Date			S-146
DSCR			S-90
DTC			S-80, S-144
Due Period			S-149
Effective Gross Income			S-115
ERISA			S-229
ERISA Plan			S-229
ESA			S-128
Euroclear			S-144
Events of Default			S-207
Excluded Plan			S-231
Exemption			S-230
FIRREA			S-128
Floating Rate Account			S-148
Form 8-K			S-114
FSMA			S-8
Gain-on-Sale Reserve Account			S-148
General Servicing Standard			S-190
Group 1 Principal Distribution Amount			S-162
Group 1 Principal Shortfall			S-164
Group 2 Principal Distribution Amount			S-163
Group 2 Principal Shortfall			S-164
Indirect Participants			S-144
Initial Loan Group 1 Balance			S-90
Initial Loan Group 2 Balance			S-90
Initial Pool Balance			S-90
Initial Resolution Period			S-120
Insurance and Condemnation Proceeds			S-147
Intercreditor Agreement			S-101
Interest Accrual Period			S-161
Interest Distribution Amount			S-160
Interest Reserve Account			S-147
IRS			S-203
Issuing Entity			S-129
JPMCB			S-91
LaSalle			S-130
LDP			S-125
LIBOR			S-157
LIBOR Business Day			S-157
LIBOR Determination Date			S-157
Liquidation Fee			S-139
Liquidation Fee Rate			S-139
Liquidation Proceeds			S-147
LNR			S-134
LNR Partners			S-134
Loan Group 1			S-90
Loan Group 2			S-90
Loan Groups			S-90
Lockbox Accounts			S-123
Lockbox Loans			S-123
Lockout Period			S-106
Lower-Tier Distribution Account			S-147
Lower-Tier REMIC Regular Interests			S-226
LTV Ratio			S-116
LTV Ratios			S-90
MAI			S-121
Master Servicer			S-132
Master Servicer Remittance Date			S-172
Maturity Date LTV Ratios			S-116
Mezz Cap AB Mortgage Loan			S-92
Mezz Cap AB Mortgage Loans			S-92
Mezz Cap Loan Pair			S-92
Mezz Cap Loan Pairs			S-92
Monthly Amount			S-106
Moody’s			S-233
Mortgage			S-90
Mortgage File			S-117
Mortgage Loan Sellers			S-91
Mortgage Note			S-90
Mortgage Rate			S-160
Mortgaged Property			S-91
Net Aggregate Prepayment Interest Shortfall			S-161

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			Page
Net Mortgage Rate			S-160
Net Operating Income			S-115
NOI			S-115
Non-Offered Certificates			S-142
Non-Offered Subordinate Certificates			S-170
Nonrecoverable Advance			S-174
Notional Amount			S-143
Offered Certificates			S-142
Operating Statements			S-116
Option Price			S-202
PAR			S-129
Parking Lot Parcel			S-109
Participants			S-144
Pass-Through Rate			S-156
Paying Agent			S-91
Percentage Interest			S-144
Periodic Payments			S-148
Permitted Investments			S-148
Plan			S-229
Pooling and Servicing Agreement			S-142
Prepayment Assumption			S-226
Prepayment Interest Excess			S-140
Prepayment Interest Shortfall			S-140
Primary Collateral			S-123
Prime Rate			S-176
Principal Balance Certificates			S-143
Principal Distribution Amount			S-162
Principal Shortfall			S-164
Purchase Agreements			S-91
Purchase Option			S-202
Purchase Price			S-120
P&I Advance			S-172
Qualified Substitute Mortgage Loan			S-121
Rated Final Distribution Date			S-233
Rating Agencies			S-233
Rating Agency Trigger Event			S-186
Record Date			S-146
Regular Certificates			S-226
Reimbursement Rate			S-175
Related Proceeds			S-173
Release Date			S-108
RELEVANT IMPLEMENTATION DATE			S-7
RELEVANT MEMBER STATE			S-7
REMIC			S-226
REMIC Provisions			S-226
REO Account			S-200
REO Loan			S-165
REO Property			S-193
Residual Certificates			S-142
Restricted Group			S-230
Rules			S-145
Scheduled Principal Distribution Amount			S-163
Senior Certificates			S-142
Servicing Advances			S-173
Servicing Fee			S-137
Servicing Fee Rate			S-137
Servicing Standards			S-190
Similar Law			S-229
Special Servicing Fee			S-138
Special Servicing Fee Rate			S-138
Specially Serviced Mortgage Loans			S-193
Stated Principal Balance			S-165
Statement to Certificateholders			S-178
Subordinate Certificates			S-142
Subordinate Offered Certificates			S-142
Swap Contracts			S-142
Swap Counterparty			S-186
Swap Premium			S-228
S&P			S-133, S-233
Treasury			S-228
Trustee			S-91
Trustee Fee			S-131
Trustee Fee Rate			S-131
Underwriters			S-122
Underwritten Cash Flow			S-115
Underwritten Cash Flow Debt Service Coverage Ratio			S-115
Underwritten NOI			S-115
Unscheduled Principal Distribution Amount			S-164
Upper-Tier Distribution Account			S-147
Upper-Tier REMIC			S-226
UW DSCR			S-115
UW NCF			S-115
UW NOI			S-115
Voting Rights			S-183
WAC Rate			S-160
Wells Fargo Bank			S-133
Withheld Amounts			S-147
Withheld Loans			S-147
Workout Fee			S-138
Workout Fee Rate			S-138
Workout-Delayed Reimbursement Amount			S-174
Yield Maintenance Charge			S-106

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SCHEDULE I
CLASS X REFERENCE RATES

Distribution Date			Reference Rate

Distribution Date			Reference Rate

Schedule I-Schedule I-1

[THIS PAGE INTENTIONALLY LEFT BLANK.]

SCHEDULE II
CLASS X-2 COMPONENT NOTIONAL AMOUNTS⁽¹⁾

Period Ending			Class A-1						Class A-2						Class A-3						Class A-4						Class A-SB						Class A-1A						Class A-M						Class A-MFL						Class A-J						Class A-JFL						Class B						Class C						Class D
December 12, 2007				$	28,379,000					$	151,614,000					$	180,000,000					$	1,204,222,000					$	117,625,000					$	595,278,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
June 12, 2008					—					$	150,329,000					$	180,000,000					$	1,204,222,000					$	117,625,000					$	594,737,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
December 12, 2008					—					$	79,416,000					$	180,000,000					$	1,204,222,000					$	117,625,000					$	582,326,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
June 12, 2009					—					$	4,681,000					$	180,000,000					$	1,204,222,000					$	117,625,000					$	568,752,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
December 12, 2009					—						—					$	107,443,000					$	1,204,222,000					$	117,625,000					$	546,093,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
June 12, 2010					—						—					$	38,445,000					$	1,204,222,000					$	117,625,000					$	526,806,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
December 12, 2010					—						—						—					$	1,177,475,000					$	117,625,000					$	510,149,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
June 12, 2011					—						—						—					$	1,117,370,000					$	117,625,000					$	495,646,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
December 12, 2011					—						—						—					$	1,057,412,000					$	117,625,000					$	482,806,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
June 12, 2012					—						—						—					$	943,453,000					$	111,619,000					$	469,965,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	49,333,000
December 12, 2012					—						—						—					$	847,275,000					$	100,803,000					$	449,579,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	37,227,000
June 12, 2013					—						—						—					$	799,595,000					$	88,928,000					$	433,051,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	32,888,000					$	13,969,000
December 12, 2013					—						—						—					$	759,317,000					$	77,330,000					$	419,227,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	24,680,000						—
June 12, 2014					—						—						—					$	679,975,000					$	64,644,000					$	407,283,000					$	278,881,000					$	50,000,000					$	213,104,000					$	50,000,000					$	61,665,000					$	3,675,000						—

Period Ending			Class E						Class F						Class G						Class H						Class J						Class K						Class L						Class M						Class N						Class P						Class NR						Total
December 12, 2007				$	36,999,000					$	41,110,000					$	32,888,000					$	41,110,000					$	8,222,000					$	8,222,000					$	16,444,000					$	8,222,000					$	4,111,000					$	12,333,000					$	41,110,000					$	3,263,760,000
June 12, 2008				$	36,999,000					$	41,110,000					$	32,888,000					$	41,110,000					$	8,222,000					$	8,222,000					$	16,444,000					$	8,222,000					$	4,111,000					$	12,333,000					$	41,110,000					$	3,233,555,000
December 12, 2008				$	36,999,000					$	41,110,000					$	32,888,000					$	41,110,000					$	8,222,000					$	8,222,000					$	16,444,000					$	8,222,000					$	4,111,000					$	12,333,000					$	11,906,000					$	3,121,027,000
June 12, 2009				$	36,999,000					$	41,110,000					$	32,888,000					$	41,110,000					$	8,222,000					$	8,222,000					$	16,444,000					$	2,787,000						—						—						—					$	2,998,933,000
December 12, 2009				$	36,999,000					$	41,110,000					$	32,888,000					$	41,110,000					$	3,245,000						—						—						—						—						—						—					$	2,866,606,000
June 12, 2010				$	36,999,000					$	41,110,000					$	32,888,000					$	13,200,000						—						—						—						—						—						—						—					$	2,747,166,000
December 12, 2010				$	36,999,000					$	41,110,000					$	16,228,000						—						—						—						—						—						—						—						—					$	2,635,457,000
June 12, 2011				$	36,999,000					$	28,770,000						—						—						—						—						—						—						—						—						—					$	2,532,281,000
December 12, 2011				$	36,999,000					$	1,379,000						—						—						—						—						—						—						—						—						—					$	2,432,092,000
June 12, 2012				$	12,148,000						—						—						—						—						—						—						—						—						—						—					$	2,273,056,000
December 12, 2012					—						—						—						—						—						—						—						—						—						—						—					$	2,121,422,000
June 12, 2013					—						—						—						—						—						—						—						—						—						—						—					$	2,022,081,000
December 12, 2013					—						—						—						—						—						—						—						—						—						—						—					$	1,934,204,000
June 12, 2014					—						—						—						—						—						—						—						—						—						—						—					$	1,809,227,000

(1) The total Notional Amount of the Class X-2 Certificates from time to time will equal the sum of the notional amounts of the components set forth in the table above. Each of those components of the total Notional Amount of the Class X-2 Certificates will relate to a particular Class of Series 2007-CIBC19 Principal Balance Certificates (i.e., Classes A-1, A-2, A-3, A-4, A-SB, A-1A, A-M, A-J, B, C, D, E, F, G, H, J, K, L, M, N and P, respectively) and the Class A-MFL and Class A-JFL Regular Interests. At any particular time during each indicated period through and including the related Distribution Date on which such period ends, the component of the Notional Amount of the Class X-2 Certificates relating to each indicated Class of Series 2007-CIBC19 Principal Balance Certificates will equal the lesser of (a) the notional amount stated in the table above for that Class and period and (b) the then actual Certificate Balance of that Class.

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SCHEDULE III
CLASS A-SB PLANNED PRINCIPAL BALANCE SCHEDULE

Date			Balance
July 12, 2007				$	117,625,000.00
August 12, 2007				$	117,625,000.00
September 12, 2007				$	117,625,000.00
October 12, 2007				$	117,625,000.00
November 12, 2007				$	117,625,000.00
December 12, 2007				$	117,625,000.00
January 12, 2008				$	117,625,000.00
February 12, 2008				$	117,625,000.00
March 12, 2008				$	117,625,000.00
April 12, 2008				$	117,625,000.00
May 12, 2008				$	117,625,000.00
June 12, 2008				$	117,625,000.00
July 12, 2008				$	117,625,000.00
August 12, 2008				$	117,625,000.00
September 12, 2008				$	117,625,000.00
October 12, 2008				$	117,625,000.00
November 12, 2008				$	117,625,000.00
December 12, 2008				$	117,625,000.00
January 12, 2009				$	117,625,000.00
February 12, 2009				$	117,625,000.00
March 12, 2009				$	117,625,000.00
April 12, 2009				$	117,625,000.00
May 12, 2009				$	117,625,000.00
June 12, 2009				$	117,625,000.00
July 12, 2009				$	117,625,000.00
August 12, 2009				$	117,625,000.00
September 12, 2009				$	117,625,000.00
October 12, 2009				$	117,625,000.00
November 12, 2009				$	117,625,000.00
December 12, 2009				$	117,625,000.00
January 12, 2010				$	117,625,000.00
February 12, 2010				$	117,625,000.00
March 12, 2010				$	117,625,000.00
April 12, 2010				$	117,625,000.00
May 12, 2010				$	117,625,000.00
June 12, 2010				$	117,625,000.00
July 12, 2010				$	117,625,000.00
August 12, 2010				$	117,625,000.00
September 12, 2010				$	117,625,000.00
October 12, 2010				$	117,625,000.00
November 12, 2010				$	117,625,000.00
December 12, 2010				$	117,625,000.00
January 12, 2011				$	117,625,000.00
February 12, 2011				$	117,625,000.00
March 12, 2011				$	117,625,000.00
April 12, 2011				$	117,625,000.00
May 12, 2011				$	117,625,000.00
June 12, 2011				$	117,625,000.00
July 12, 2011				$	117,625,000.00
August 12, 2011				$	117,625,000.00
September 12, 2011				$	117,625,000.00
October 12, 2011				$	117,625,000.00
November 12, 2011				$	117,625,000.00
December 12, 2011				$	117,625,000.00
January 12, 2012				$	117,624,874.19
February 12, 2012				$	116,356,492.54
March 12, 2012				$	114,756,288.71
April 12, 2012				$	113,432,803.00
May 12, 2012				$	111,619,166.26
June 12, 2012				$	109,920,851.69
July 12, 2012				$	107,969,328.88
August 12, 2012				$	106,251,845.53
September 12, 2012				$	104,525,731.92
October 12, 2012				$	102,547,973.40
November 12, 2012				$	100,803,247.76
December 12, 2012				$	98,807,386.94
January 12, 2013				$	97,043,864.48
February 12, 2013				$	95,271,480.04
March 12, 2013				$	92,765,775.72
April 12, 2013				$	90,971,892.96
May 12, 2013				$	88,928,221.28
June 12, 2013				$	87,100,162.24
July 12, 2013				$	85,020,173.33
August 12, 2013				$	83,172,479.45
September 12, 2013				$	81,315,502.17
October 12, 2013				$	79,207,387.03
November 12, 2013				$	77,330,487.83
December 12, 2013				$	75,202,996.39
January 12, 2014				$	73,305,977.50
February 12, 2014				$	71,399,426.98
March 12, 2014				$	68,762,695.16
April 12, 2014				$	66,828,568.02
May 12, 2014				$	64,644,397.33
June 12, 2014				$	62,689,577.87
July 12, 2014				$	60,485,281.59
August 12, 2014				$	58,509,564.40
September 12, 2014				$	56,523,919.80
October 12, 2014				$	54,289,642.60
November 12, 2014				$	52,282,794.23
December 12, 2014				$	50,027,893.97
January 12, 2015				$	47,999,631.32
February 12, 2015				$	45,961,176.80
March 12, 2015				$	43,201,649.76
April 12, 2015				$	41,139,086.75

Schedule III-1

Date			Balance
May 12, 2015				$	38,829,997.73
June 12, 2015				$	36,745,467.28
July 12, 2015				$	34,415,012.44
August 12, 2015				$	32,308,296.43
September 12, 2015				$	30,190,993.68
October 12, 2015				$	27,828,664.08
November 12, 2015				$	25,688,850.38
December 12, 2015				$	23,304,626.33
January 12, 2016				$	21,142,078.16
February 12, 2016				$	18,968,662.21
March 12, 2016				$	16,319,188.55
April 12, 2016				$	14,121,536.29
May 12, 2016				$	11,681,057.69
June 12, 2016				$	9,460,096.65
July 12, 2016				$	6,996,947.62
August 12, 2016				$	4,752,446.35
September 12, 2016				$	2,496,664.77
October 12, 2016					—

Schedule III-2

ANNEX A-1

CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
AND MORTGAGED PROPERTIES

ANNEX A-1-1

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ANNEX A-1



LOAN #  SELLER  PROPERTY NAME                                        STREET ADDRESS
------  ------  -------------                                        --------------

  1     JPMCB   599 Lexington Avenue                                 599 Lexington Avenue
  2     JPMCB   River City Marketplace                               I-95 and Duval Road
  3     JPMCB   Sabre Headquarters                                   3120 & 3150 Sabre Drive
  4      CIBC   Green Hills Corporate Center                         2675 Morgantown Road, 100-300 Gundy Drive, 100 Davis Drive &
                                                                     100 Kachel Boulevard
  5     JPMCB   Cabot Industrial Portfolio V                         Various
 5.01           245 Great Circle Road                                245 Great Circle Road
 5.02           301 South Northpoint Drive                           301 South Northpoint Drive
 5.03           488 South Royal Lane                                 488 South Royal Lane
 5.04           2900 Earhart Court                                   2900 Earhart Court
 5.05           720-760 Dearborn Park Lane                           720-760 Dearborn Park Lane
 5.06           3000 Earhart Court                                   3000 Earhart Court
 5.07           3401 West Papago                                     3401 West Papago
 5.08           5240 Panola Industrial Boulevard                     5240 Panola Industrial Boulevard
 5.09           5430 GA Highway 85                                   5430 GA Highway 85
 5.10           3845 Crowfarn Drive                                  3845 Crowfarn Drive
 5.11           4287 Delp Street                                     4287 Delp Street
 5.12           8813 Boehning Lane                                   8813 Boehning Lane
 5.13           8829-8841 Boehning Lane                              8829-8841 Boehning Lane
 5.14           5191 Snapfinger Woods Drive                          5191 Snapfinger Woods Drive
 5.15           8740 Boehning Lane                                   8740 Boehning Lane
  6      CIBC   Crowne Plaza Metro Chicago                           733 West Madison Street
  7     JPMCB   St. Julien Hotel & Spa                               900 Walnut Street
  8      CIBC   Marriott - Farmington                                15 Farm Springs Road
  9     JPMCB   Doubletree Guest Suites                              640 West Germantown Pike
  10    JPMCB   Temple U Health System Headquarters                  2450 West Hunting Park Avenue
  11     CIBC   Marriott - Memphis                                   2625 Thousand Oaks Boulevard
  12     CIBC   Harrisburg Portfolio                                 Various
12.01           300 Corporate Center Drive                           300 Corporate Center Drive
12.02           200 Corporate Center Drive                           200 Corporate Center Drive
12.03           150 Corporate Center Drive                           150 Corporate Center Drive
12.04           800 Corporate Circle                                 800 Corporate Circle
12.05           500 Nationwide Drive                                 500 Nationwide Drive
12.06           600 Corporate Circle                                 600 Corporate Circle
12.07           2401 Park Drive                                      2401 Park Drive
12.08           2404 Park Drive                                      2404 Park Drive
  13     CIBC   Bronx Apartment Portfolio                            Various
13.01           530-540 East 169th Street                            530-540 East 169th Street
13.02           480-490 East 188th Street                            480-490 East 188th Street
  14     CIBC   Peartree Square                                      691 Co-op City Boulevard
  15    JPMCB   Lincoln Place Shopping Center                        5905 - 6115 North Illinios Street
  16    JPMCB   AmeriCold Portfolio                                  Various
16.01           Clearfield                                           755 East 1700 South Street
16.02           Murfreesboro                                         2641 Stephenson Drive
16.03           Connell                                              720 West Juniper Street
16.04           Strasburg                                            545 Radio Station Road
16.05           Amarillo                                             10300 Southeast Third Street
16.06           Thomasville                                          121 Roseway Drive
16.07           West Memphis                                         1651 South Airport Road
16.08           Russellville                                         203 Industrial Boulevard
16.09           Syracuse                                             264 Farrell Road
16.10           Atlanta                                              1740 Westgate Parkway
16.11           Babcock                                              1524 Necedah Road
16.12           Turlock                                              660 Fifth Street
16.13           Nampa                                                231 Second Road North
16.14           Woodburn                                             1440 Silverton Avenue
16.15           Wichita                                              2707 North Mead Street
16.16           Fort Smith                                           1634 Midland Boulevard
16.17           Sebree                                               1541 US Highway 41
16.18           Boston                                               100 Widett Circle
16.19           Bettendorf                                           6875 State Street
16.20           Walla Walla                                          1115 West Rose Street
  17    JPMCB   Orchard Place Shopping Center                        4801-4869 Golf Road
  18    JPMCB   Pike Run Village                                     40 Pike Run Road
  19     CIBC   LG Portfolio                                         Various
19.01           A.C. Moore and Thomasville                           980 Bethlehem Pike
19.02           Circuit City and OfficeMax                           6920-6930 West Kellogg Drive
19.03           OfficeMax and Sports Authority                       4235 Stone Mountain Highway
19.04           Caromont - Gastonia                                  2711 X-Ray Drive
19.05           CaroMont - Belmont                                   209 Park Street
19.06           Hollywood Video                                      2505 Dallas Highway
19.07           Walgreens and H&R Block                              2644 James Road
19.08           CaroMont - Stanley                                   700 North Main Street
19.09           CaroMont - Kings Mountain                            214 North Cleveland Avenue
  20    JPMCB   The Shops at Boardman Park                           712 Boardman Poland Road and 377 Boardman Poland Road
  21    JPMCB   Crossroads Center                                    200 Crossroads Mall
  22    JPMCB   Royal Oaks Plaza                                     15400-15544 Northwest 77th Court
  23     CIBC   ABB Automation, Inc.                                 29801 Euclid Avenue
  24    JPMCB   Zidan-Springhill and Walnut Creek                    Various
24.01           Walnut Creek                                         4600 Colter Drive
24.02           Country Lakes                                        9701 East 30th Street
24.03           Hamilton Square                                      808 Clubhouse Drive West
  25     CIBC   Plaza de Hacienda                                    1735-1869 North Hacienda Boulevard
  26     CIBC   Freehold Mall                                        3684 Route 9
  27     CIBC   Hotel Indigo                                         1244 North Dearborn Street
  28     CIBC   GE - Cleveland, TN                                   1520 Lauderdale Memorial Highway
  29     CIBC   Embassy Suites - PHX                                 1515 North 44th Street
  30    JPMCB   Park Terrace                                         4080 West First Street
  31     CIBC   Holopack International Corp.                         1 Technology Circle
  32     CIBC   China Town Center                                    10901 North Lamar Boulevard
  33     CIBC   Campus Hill Apartments Portfolio                     Various
  34     CIBC   Abbott Square                                        530 South 2nd Street
  35     CIBC   Kierland Corporate Center Phase I                    7047 East Greenway Parkway
  36     CIBC   Lakeshore Athletic Club - Illinois Center            211 North Stetson Avenue
  37    JPMCB   Del Prado Anaheim                                    1616 South Euclid Street
  38    JPMCB   Hampton Inn Coconut Grove                            2800 Southwest 28th Terrace
  39    JPMCB   Airport Industrial Center                            163 Rochester Drive
  40    JPMCB   Las Palmas Shopping Center                           803 Castroville Road
  41     CIBC   9400 Shea Boulevard                                  9400 East Shea Boulevard
  42    JPMCB   River Park 6                                         10897 South River Front Parkway
  43     CIBC   Arizona Golf Resort                                  425 South Power Road
  44    JPMCB   Zidan/Van Rooy Apartment Portfolio                   Various
44.01           Springhill                                           6495 Piping Rock Lane
44.02           Sandstone                                            1039 Paz Drive North
  45    JPMCB   River Park                                           10813 South River Front Parkway
  46     CIBC   Summit Square Center                                 SWC Route 413 and Summit Trace Road
  47    JPMCB   Shreveport Storage Portfolio                         Various
47.01           EBK                                                  2282 East Bert Kouns Industrial Loop
47.02           Airline                                              3990 Airline Drive
47.03           I-49                                                 411 East Bert Kouns Industrial Loop
  48     CIBC   Bluff at Vista Ridge                                 625 East Vista Ridge Mall Drive
  49    JPMCB   5th & G Plaza                                        400-430 G Street
  50     CIBC   The Greentree Place Apartments                       250 South Elizabeth Way
  51    JPMCB   River City Plaza Shopping Center                     950 West Shawnee Street
  52    JPMCB   Lenox Plaza Shopping Center                          1750 Route 46
  53     CIBC   San Mar Plaza Shopping Center                        901-935 Highway 80
  54     CIBC   59 Temple Place                                      57-63 Temple Place & 501-507 Washington Street
  55     CIBC   Glen Arbor Apartments                                1900 Stevens Road
  56     CIBC   Prien Lake Plaza                                     1704-1776 West Prien Lake Road
  57     CIBC   Value City                                           3251 Westerville Road
  58     CIBC   Towne Square Shopping Center                         910 West Parker Road
  59    JPMCB   Invesco Portfolio                                    Various
59.01           1800 Ogletown Road                                   1800 Ogletown Road
59.02           6600 Cabot Drive                                     6600 Cabot Drive
  60    JPMCB   Shady Oaks                                           5097 East Shady Oaks Road
  61    JPMCB   Chowder Bay Apartments                               4700 South Rio Grande Avenue
  62    JPMCB   Beverly Hills Ice House                              9348 Civic Center Drive
  63    JPMCB   Water's Edge Apartments                              936 Waterview Way
  64    JPMCB   Park Place Apartments                                66, 92, 108 Devir Street
  65     CIBC   Moon Valley                                          1001 5th Street West
  66     CIBC   221 Canal Street                                     221 Canal Street
  67    JPMCB   Haymarket Square                                     1688-1742 Boston Road
  68    JPMCB   Braker Lane Crossing                                 4501 West Braker Lane
  69     CIBC   Eastgate Plaza                                       6901-7145 North 9th Avenue & 2740-2790 Creighton Boulevard
  70    JPMCB   Osprey Portfolio - Michigan                          Various
70.01           25250 Easy Street                                    25250 Easy Street
70.02           44830-44990 Vic Wertz                                44830-44990 Vic Wertz Drive
70.03           Ten Mile Buildings                                   14116-14140 East 10 Mile Road
70.04           5936 Ford Court                                      5936 Ford Court
70.05           44562 Morely Drive                                   44562 Morely Drive
70.06           44675 Morley Drive                                   44675 Morley Drive
70.07           44621 Morely Drive                                   44621 Morely Drive
70.08           34575 Commerce                                       34575 Commerce
70.09           18780 Kelly Court                                    18780 Kelly Court
70.10           18810 Kelly Court                                    18810 Kelly Court
70.11           44372 Reynolds Drive                                 44372 Reynolds Drive
70.12           44360 Reynolds Drive                                 44360 Reynolds Drive
70.13           33500 Kelly Road                                     33500 Kelly Road
  71     CIBC   535 Broadway                                         535 Broadway
  72    JPMCB   Foothills Vista Tech Center                          15210 & 15220 South 50th Street
  73     CIBC   Bridgestone Building                                 21250 East 36th Drive
  74    JPMCB   Town & Country                                       815 East Oakton Street
  75    JPMCB   Home Depot - Homestead                               Southwest 137 Avenue and Southwest 288th Street
  76    JPMCB   Total Quality Logistics                              4320 Ferguson Drive
  77     CIBC   Carlton Hotel - South Beach                          1433 Collins Avenue
  78     CIBC   466 Broome Street                                    466 Broome Street
  79     CIBC   The Meadows Phase II                                 773 West Grassland Drive
  80     CIBC   Millennium Plaza                                     2780-2818 Weston Road
  81    JPMCB   DL Storage                                           1620 14th Street
  82    JPMCB   4600 Powder Mill Road                                4600 Powder Mill Road
  83     CIBC   Bed Bath & Beyond Plaza                              14800-14860 South Military Trail & 4920 West Atlantic Avenue
  84     CIBC   The Fremont Building                                 1501 16th Street
  85     CIBC   AT&T Center - Dallas, TX                             1430-1440 Empire Central
  86    JPMCB   Farmington Estates                                   3308 Kehm Boulevard and Susan Circle Drive
  87     CIBC   Cumberland Tech Center                               27301 West 11 Mile Road
  88    JPMCB   Neways Office Building                               2089 West Neways Drive
  89    JPMCB   Pleasant Valley Plaza                                125 West Pleasant Valley Road
  90    JPMCB   York                                                 650 York Creek Drive Northwest
  91     CIBC   Filene' s Basement                                   215-227 Needham Street
  92     CIBC   River Ranch Apartments                               5100 River Valley Boulevard
  93    JPMCB   Greenbriar Hills Apartments                          110 Falls Terrace
  94    JPMCB   Country Inn & Best Western                           Various
94.01           Best Western - Blue Ridge                            840 East King Street
94.02           Country Inn & Suites                                 818 East King Street
  95    JPMCB   Smithfield Plaza                                     2175 Southeast Ocean Boulevard
  96    JPMCB   Holiday Inn Express - Temecula                       27660 Jefferson Avenue
  97     CIBC   Liberty Tree Building                                630 Washington Street
  98     CIBC   106th South Business Park                            10421 and 10437 South Jordan Gateway
  99    JPMCB   Corinthian Colleges                                  9200 SouthPark Center Loop
 100     CIBC   Harper Collins                                       1000 Keystone Industrial Park
 101    JPMCB   Coral Hills Shopping Center                          4775, 4805, 4807, 4813 & 4821 Marlboro Pike
 102     CIBC   Lake Park Outlets                                    5327 Mill Store Road
 103     CIBC   Sand Lake Plaza                                      6450 Poe Avenue
 104     CIBC   Outpost - Lake Placid, NY                            211 Saranac Avenue
 105     CIBC   First Financial Centre                               700 North Water Street
 106     CIBC   Beaver Brook Village                                 91-101 Mill Street
 107     CIBC   Vineyard Pavilion                                    245-285 South Palm Canyon Drive
 108     CIBC   Willow Pointe Apartments                             13717 Northwest 2nd Avenue
 109    JPMCB   Village Greens of Annapolis                          South Cherry Grove Avenue
 110     CIBC   Cheyenne Market Place                                1360-1366 West Cheyenne Avenue
 111    JPMCB   Marcus Whitman Hotel                                 6 West Rose Street
 112     CIBC   Empire Distributors of North Carolina                1757 TW Alexander Drive
 113     CIBC   Woodbury Apartments                                  802 Barry Street
 114    JPMCB   Pleasant Valley                                      2999 McCool Road
 115     CIBC   Creekside Four Office Building                       11000 Southwest Stratus Street
 116    JPMCB   Meridian Center I                                    2 Industrial Way West
 117    JPMCB   AT&T Beaumont Call Centre                            555 Main Street
 118     CIBC   Pure Resources Office Building                       500 West Illinois Avenue
 119    JPMCB   Mid America V                                        7919 Mid America Boulevard
 120    JPMCB   Sheraton Four Points & Ocean Park                    3800 & 3900 State Highway
 121     CIBC   Trexlertown Marketplace                              6379 Hamilton Boulevard
 122     CIBC   Adams Four                                           800 West 4th Street
 123    JPMCB   Veteran's Parkway                                    1370 Veteran's Parkway
 124    JPMCB   Midway Estates                                       3308 Kehm Boulevard
 125    JPMCB   Edgebrook                                            1801 DeKalb Avenue
 126    JPMCB   Kingsway Estates                                     38455 North Sheridan Road
 127     CIBC   Holiday Inn North Haven                              201 Washington Avenue
 128    JPMCB   Brookmeadow                                          143 Brookmeadow North Lane Southwest
 129    JPMCB   Homewood Suites - Omaha                              7010 Hascall Street
 130    JPMCB   Haggerty Corridor Office                             28125 Cabot Drive
 131     CIBC   Klein Crossing Shopping Center                       6064 FM 2920 Road
 132     CIBC   Plaza North Shopping Center                          1800 Fort Harrison Road
 133     CIBC   Frances Way Villas Apartments                        900 Frances Way
 134     CIBC   Oceanside                                            3817 Plaza Drive
 135    JPMCB   Maple Grove Estates                                  3800 Belvidere Road
 136    JPMCB   New Town Properties                                  3236 Canal Street
 137    JPMCB   Hampton Inn Juno Beach                               13801 U.S. Highway 1
 138     CIBC   Mesa Verde Apartments                                9700 West 51st Place
 139     CIBC   Villas De Nolana                                     121 East Quamasia Avenue
 140    JPMCB   430/487 Market Street                                430 and 487 Market Street
 141     CIBC   The Village Walk                                     1990 Route 70 East
 142     CIBC   River Square Center - Waco, TX                       215 South 2nd Street & 217 Mary Avenue
 143     CIBC   9039 Sunset Boulevard                                9039 Sunset Boulevard
 144    JPMCB   Fairfield Inn LN                                     5 North Pottstown Pike
 145    JPMCB   Shoreline Terrace                                    38569 - 38619 North Sheridan Road
 146    JPMCB   Brookwood MHC                                        825 1st Avenue East
 147     CIBC   CPPI Building                                        6790 Flanders Drive
 148     CIBC   20 Research Place                                    20 Research Place
 149    JPMCB   Woodfield                                            6111 Woodfield Drive Southeast
 150     CIBC   Dalton Avenue Plaza                                  455-457 Dalton Avenue
 151     CIBC   Cathedral Court Apartments                           900 Cathedral Street
 152     CIBC   Eustis Shoppes - Eustis, FL                          David Walker Drive & US-441
 153     CIBC   Telephone Road                                       9300 Telephone Road
 154    JPMCB   Pleasant Ridge                                       27W370 Geneva Road
 155     CIBC   Fat Cats Portfolio                                   Various
155.01          Salt Lake City                                       3739 South 900 East
155.02          Provo                                                1200 North University Avenue
 156     CIBC   Riverside Office Plaza                               1155 West Rio Salado Parkway
 157     CIBC   Holiday Inn Express - Jackson, MS                    310 Greymont Avenue
 158    JPMCB   All Storage Trinity Precinct                         8850 Trinity Boulevard
 159     CIBC   Montcor Buildings - OH                               Various
159.01          11085 Montgomery Road                                11085 Montgomery Road
159.02          11159 Montgomery Road                                11159 Montgomery Road
159.03          11147 Montgomery Road                                11147 Montgomery Road
 160    JPMCB   Sterling Plaza                                       6609 & 6670 West Sam Houston Parkway South
 161    JPMCB   All Storage Kelly Old Mill                           2640 Kelly Boulevard
 162    JPMCB   University Park Apartments Purdue                    1823 South River Road
 163    JPMCB   Valley Oaks                                          6208 Lawn Avenue
 164    JPMCB   Hampton Inn - Myrtle Beach                           4551 Highway 501
 165     CIBC   Kaplan Higher Education Building                     18614 Crestwood Drive
 166     CIBC   Crown Point Office                                   19284 East Cottonwood Drive
 167     CIBC   Gaffney Retail Center - SC                           1100 Factory Shops Boulevard & Nancy Creek Road
 168    JPMCB   2150/2250 Butterfield                                2150 and 2250 Butterfield Drive
 169    JPMCB   Lake Country Plaza                                   5300 FM 1960 Road East
 170    JPMCB   Raia Self Storage - Montville LLC                    5 Change Bridge Road
 171    JPMCB   Holiday Inn Express - Wakefield                      11400 Common Oaks Drive
 172    JPMCB   Promax Logistics                                     195 Industrial Boulevard
 173     CIBC   Garden Grove Retail                                  11101-11115 Brookhurst Street & 9912-9952 Katella Avenue
 174    JPMCB   Wingate Inn                                          1000 Laurel Oak Road
 175     CIBC   South Philly Plaza                                   2715 South Front Street
 176    JPMCB   C.M. Meiers Co.                                      21045 Califa Street
 177    JPMCB   Bennett Center                                       100-198 Camino Ruiz
 178     CIBC   1818 Pacific Street                                  1818 Pacific Street
 179    JPMCB   Hollywood Estates                                    144 Hollywood Boulevard
 180    JPMCB   Colonial Estates                                     14139 Western Avenue
 181     CIBC   2233 Nostrand Avenue                                 2233 Nostrand Avenue
 182     CIBC   Circuit City                                         550 Route 70
 183    JPMCB   Carriage Court Apartments                            11580 Olde Gate Drive
 184    JPMCB   Redners Market - Reading, PA                         5471 Pottsville Pike
 185     CIBC   Fishers Crossing                                     7236-7270 Fishers Crossing Drive
 186     CIBC   Central Park East                                    1815 South State Street
 187    JPMCB   North Creek MHC                                      7408 North Creek Drive
 188    JPMCB   South Loop Shopping Center                           2600 & 2825 Thorton Lane
 189     CIBC   Regency Furniture                                    6610 Baltimore National Pike
 190    JPMCB   All Star Signature Properties                        3605 Fern Valley Road
 191     CIBC   Shoppes at Higley Village                            5050 East University Drive & 446 North Higley Road
 192     CIBC   Met Life Building                                    15 Bay Ridge Avenue
 193     CIBC   Shoppes at Smithbridge and Longwood Office Building  Various
193.01          Shoppes at Smithbridge                               Route 202 and Smithbridge Road
193.02          Longwood Office Building                             511 School House Rd
 194    JPMCB   Sunny Acres Estates                                  200 Franklin Drive
 195    JPMCB   Timber Ridge Apartments                              5920 Vermillion Street
 196     CIBC   20 Century Hill Drive                                20 Century Hill Drive
 197    JPMCB   Holiday Inn - Weirton                                350 Three Springs Drive
 198    JPMCB   The Examiner Building                                801 South Pickett Street
 199     CIBC   Broadview Office Building                            8610 Broadway
 200     CIBC   Worldwide Wholesale Floor Covering                   1055 Route 1
 201    JPMCB   Hampton Inn - Gainesville                            450 Jesse Jewell Parkway
 202    JPMCB   Brighton Court Apartments                            1550 Bell Street
 203     CIBC   5050 Veterans Memorial                               5050 Veterans Memorial Highway
 204     CIBC   Stock Building Supply                                104 North Witchduck Road
 205    JPMCB   Beyerwood Apartments                                 1900 Nester Place
 206    JPMCB   Countryside  Portfolio                               Various
206.01          Countryside                                          2400 5th Avenue South
206.02          WRBCO Inc                                            1147 Rural Street
 207     CIBC   Windrush Apartments                                  4322 Kostoryz Road
 208     CIBC   200 Campus Drive                                     200 Campus Drive
 209    JPMCB   Feathersound Publix                                  120 Carillon Parkway
 210    JPMCB   109 Highland Avenue                                  109 Highland Avenue and 25-33 Lee Street
 211    JPMCB   9 Park Center Court                                  9 Park Center Court
 212    JPMCB   Westdale Shopping Center                             3300 West Van Buren Avenue
 213     CIBC   Strawberry Square Shopping Center                    2301 North 29th Street
 214     CIBC   Layton Market Center                                 1916 North 700 West Street
 215    JPMCB   Walgreens - Mt. Laurel, NJ                           3046 Route 38 East
 216    JPMCB   Gold's Gym - Greenville                              140 Oakmont Drive
 217    JPMCB   Eastgate Commerce Center                             4440 Glen Este Withamsville Road
 218     CIBC   Cole Gardens Apartments                              2800-2808 Jasper Road Southeast
 219     CIBC   AFW Building                                         680 South 500 East
 220    JPMCB   4783 Preston Road                                    4783 Preston Road
 221     CIBC   Belvedere Parking Garage                             1017 North Charles Street
 222     CIBC   Petco                                                1025 US Highway I
 223    JPMCB   Regency Apartments                                   251 Andrews Street
 224    JPMCB   Autrans USA                                          223 Old Jackson Road & 3895 Beaseley Road
 225    JPMCB   Redwood                                              15242 East 1830 North Road
 226    JPMCB   3145 Rochambeau Avenue                               3145 Rochambeau Avenue
 227    JPMCB   Trinidad Plaza                                       2010-2200 Freedom Road
 228     CIBC   O'Connor Crossing                                    11403 O'Connor Road
 229     CIBC   Casa di Citta Apartments                             32 East Warren Street
 230     CIBC   Pathmark Supermarket                                 757 State Route 15 South
 231    JPMCB   Riviera Heights MHC                                  1001 Gibraltor Avenue North
 232    JPMCB   Hampton Inn Dry Ridge                                1200 Cull Lane
 233    JPMCB   Garpointe Plaza                                      39079 - 39131 Garfield Road
 234    JPMCB   Village at Wingfield Apartments                      1302, 1306, 1310, 1314,1402, 1406, 1410, 1414 North Main Street
 235    JPMCB   Office Max - Mesa, AZ                                6631 East Southern Avenue
 236    JPMCB   Country Club Terrace MHC                             448 California Street
 237    JPMCB   2435-2445 West Kettleman Lane                        2435-2445 West Kettleman Lane
 238     CIBC   La Carre Apartments                                  774 Northern Avenue
 239    JPMCB   ICON                                                 44049-44175 Groesbeck Highway
 240     CIBC   Lakeside Place                                       700-738 Wilcrest Drive
 241    JPMCB   Oakbrook Station                                     1720 Wildcat Boulevard South
 242     CIBC   Rite Aide - Shreveport, LA                           1850 North Market Street


                                                                                    NUMBER OF   PROPERTY
LOAN #  CITY                           STATE     ZIP CODE    COUNTY                PROPERTIES     TYPE
------  ----                          -------    --------    --------              ----------  ----------

  1     New York                        NY         10022     New York                  1       Office
  2     Jacksonville                    FL         32218     Duval                     1       Retail
  3     Southlake                       TX         76092     Tarrant                   1       Office
  4     Reading                         PA         19607     Berks                     1       Office
  5     Various                       Various     Various    Various                   15      Industrial
 5.01   Nashville                       TN         37228     Davidson                  1       Industrial
 5.02   Coppell                         TX         75019     Dallas                    1       Industrial
 5.03   Coppell                         TX         75019     Dallas                    1       Industrial
 5.04   Hebron                          KY         41048     Boone                     1       Industrial
 5.05   Columbus                        OH         43085     Franklin                  1       Industrial
 5.06   Hebron                          KY         41048     Boone                     1       Industrial
 5.07   Phoenix                         AZ         85009     Maricopa                  1       Industrial
 5.08   Decatur                         GA         30035     Dekalb                    1       Industrial
 5.09   Forest Park                     GA         30297     Clayton                   1       Industrial
 5.10   Memphis                         TN         38118     Shelby                    1       Industrial
 5.11   Memphis                         TN         38818     Shelby                    1       Industrial
 5.12   Indianapolis                    IN         46219     Marion                    1       Industrial
 5.13   Indianapolis                    IN         46219     Marion                    1       Industrial
 5.14   Decatur                         GA         30035     Dekalb                    1       Industrial
 5.15   Indianapolis                    IN         46219     Marion                    1       Industrial
  6     Chicago                         IL         60661     Cook                      1       Hotel
  7     Boulder                         CO         80302     Boulder                   1       Hotel
  8     Farmington                      CT         06032     Harford                   1       Hotel
  9     Plymouth Meeting                PA         19462     Montgomery                1       Hotel
  10    Philadelphia                    PA         19129     Philadelphia              1       Office
  11    Memphis                         TN         38118     Shelby                    1       Hotel
  12    Various                         PA        Various    Various                   8       Office
12.01   Camp Hill                       PA         17011     Cumberland                1       Office
12.02   Camp Hill                       PA         17011     Cumberland                1       Office
12.03   Camp Hill                       PA         17011     Cumberland                1       Office
12.04   Harrisburg                      PA         17110     Dauphin                   1       Office
12.05   Harrisburg                      PA         17110     Dauphin                   1       Office
12.06   Harrisburg                      PA         17110     Dauphin                   1       Office
12.07   Harrisburg                      PA         17110     Dauphin                   1       Office
12.08   Harrisburg                      PA         17110     Dauphin                   1       Office
  13    Bronx                           NY        Various    Bronx                     2       Multifamily
13.01   Bronx                           NY         10456     Bronx                     1       Multifamily
13.02   Bronx                           NY         10458     Bronx                     1       Multifamily
  14    Bronx                           NY         10475     Bronx                     1       Retail
  15    Fairview Heights                IL         62208     Saint Clair               1       Retail
  16    Various                       Various     Various    Various                   20      Industrial
16.01   Clearfield                      UT         84015     Davis                     1       Industrial
16.02   Murfreesboro                    TN         37133     Rutherford                1       Industrial
16.03   Connell                         WA         99326     Franklin                  1       Industrial
16.04   Strasburg                       VA         22657     Shenandoah                1       Industrial
16.05   Amarillo                        TX         79118     Potter                    1       Industrial
16.06   Thomasville                     GA         31792     Thomas                    1       Industrial
16.07   West Memphis                    AR         72301     Crittenden                1       Industrial
16.08   Russellville                    AR         72802     Pope                      1       Industrial
16.09   Syracuse                        NY         13209     Onondaga                  1       Industrial
16.10   Atlanta                         GA         30336     Fulton                    1       Industrial
16.11   Babcock                         WI         54413     Wood                      1       Industrial
16.12   Turlock                         CA         95380     Stanislaus                1       Industrial
16.13   Nampa                           ID         83687     Canyon                    1       Industrial
16.14   Woodburn                        OR         97071     Marion                    1       Industrial
16.15   Wichita                         KS         67219     Sedgwick                  1       Industrial
16.16   Fort Smith                      AR         72901     Sebastian                 1       Industrial
16.17   Sebree                          KY         42455     Webster                   1       Industrial
16.18   Boston                          MA         02118     Suffolk                   1       Industrial
16.19   Bettendorf                      IA         52722     Scott                     1       Industrial
16.20   Walla Walla                     WA         99362     Walla Walla               1       Industrial
  17    Skokie                          IL         60077     Cook                      1       Retail
  18    Belle Mead                      NJ         08502     Somerset                  1       Multifamily
  19    Various                       Various     Various    Various                   9       Various
19.01   Montgomeryville                 PA         18936     Montgomery                1       Retail
19.02   Wichita                         KS         67209     Sedgwick                  1       Retail
19.03   Lilburn                         GA         30047     Gwinnett                  1       Retail
19.04   Gastonia                        NC         28054     Gaston                    1       Office
19.05   Belmont                         NC         28012     Gaston                    1       Office
19.06   Marietta                        GA         30064     Cobb                      1       Retail
19.07   Memphis                         TN         38127     Shelby                    1       Retail
19.08   Stanley                         NC         28164     Gaston                    1       Office
19.09   Kings Mountain                  NC         28086     Cleveland                 1       Office
  20    Boardman                        OH         44512     Mahoning                  1       Retail
  21    Bartonsville                    PA         18321     Monroe                    1       Retail
  22    Miami Lakes                     FL         33016     Miami-Dade                1       Retail
  23    Wickliffe                       OH         44092     Lake                      1       Industrial
  24    Various                         IN        Various    Various                   3       Multifamily
24.01   Kokomo                          IN         46902     Howard                    1       Multifamily
24.02   Indianapolis                    IN         46229     Marion                    1       Multifamily
24.03   Westfield                       IN         46074     Hamilton                  1       Multifamily
  25    La Puente                       CA         91744     Los Angeles               1       Retail
  26    Freehold                        NJ         07728     Monmouth                  1       Retail
  27    Chicago                         IL         60610     Cook                      1       Hotel
  28    Charleston                      TN         37310     Bradley                   1       Industrial
  29    Phoenix                         AZ         85008     Maricopa                  1       Hotel
  30    Santa Ana                       CA         92703     Orange                    1       Manufactured Housing
  31    Columbia                        SC         29203     Richland                  1       Industrial
  32    Austin                          TX         78753     Travis                    1       Retail
  33    Syracuse                        NY         13210     Onondaga                  1       Multifamily
  34    Philadelphia                    PA         19147     Philadelphia              1       Retail
  35    Scottsdale                      AZ         85254     Maricopa                  1       Office
  36    Chicago                         IL         60601     Cook                      1       Retail
  37    Anaheim                         CA         92802     Orange                    1       Manufactured Housing
  38    Miami                           FL         33133     Miami-Dade                1       Hotel
  39    Louisville                      KY         40214     Jefferson                 1       Industrial
  40    San Antonio                     TX         78237     Bexar                     1       Retail
  41    Scottsdale                      AZ         85260     Maricopa                  1       Mixed Use
  42    South Jordan                    UT         84095     Salt Lake                 1       Office
  43    Mesa                            AZ         85206     Maricopa                  1       Hotel
  44    Various                         IN        Various    Various                   2       Multifamily
44.01   Indianapolis                    IN         46254     Marion                    1       Multifamily
44.02   Greenwood                       IN         46142     Johnson                   1       Multifamily
  45    South Jordan                    UT         84095     Salt Lake                 1       Office
  46    Langhorne                       PA         19047     Bucks                     1       Retail
  47    Various                         LA        Various    Various                   3       Self Storage
47.01   Shreveport                      LA         71105     Caddo                     1       Self Storage
47.02   Bossier City                    LA         71111     Bossier                   1       Self Storage
47.03   Shreveport                      LA         71106     Caddo                     1       Self Storage
  48    Lewisville                      TX         75067     Denton                    1       Multifamily
  49    Davis                           CA         95616     Yolo                      1       Mixed Use
  50    Chandler                        AZ         85225     Maricopa                  1       Multifamily
  51    Muskogee                        OK         74401     Muskogee                  1       Retail
  52    West Paterson                   NJ         07424     Passaic                   1       Retail
  53    San Marcos                      TX         78666     Hays                      1       Retail
  54    Boston                          MA         02111     Suffolk                   1       Office
  55    Woodbridge                      VA         22191     Prince William            1       Multifamily
  56    Lake Charles                    LA         70601     Calcasieu                 1       Retail
  57    Columbus                        OH         43224     Franklin                  1       Industrial
  58    Plano                           TX         75075     Collin                    1       Retail
  59    Various                       Various     Various    Various                   2       Industrial
59.01   Newark                          DE         19711     New Castle                1       Industrial
59.02   Curtis Bay                      MD         21226     Anne Arundel              1       Industrial
  60    Minooka                         IL         60447     Grundy                    1       Manufactured Housing
  61    Orlando                         FL         32839     Orange                    1       Multifamily
  62    Beverly Hills                   CA         90210     Los Angeles               1       Office
  63    Champaign                       IL         61822     Champaign                 1       Multifamily
  64    Malden                          MA         02148     Middlesex                 1       Multifamily
  65    Sonoma                          CA         95476     Sonoma                    1       Manufactured Housing
  66    New York                        NY         10013     New York                  1       Office
  67    Springfield                     MA         01129     Hampden                   1       Retail
  68    Austin                          TX         78759     Travis                    1       Retail
  69    Pensacola                       FL         32504     Escambia                  1       Retail
  70    Various                         MI        Various    Various                   13      Industrial
70.01   Warren                          MI         48089     Macomb                    1       Industrial
70.02   Clinton Township                MI         48036     Macomb                    1       Industrial
70.03   Warren                          MI         48089     Macomb                    1       Industrial
70.04   Brighton                        MI         48116     Livingston                1       Industrial
70.05   Clinton Township                MI         48036     Macomb                    1       Industrial
70.06   Clinton Township                MI         48036     Macomb                    1       Industrial
70.07   Clinton Township                MI         48036     Macomb                    1       Industrial
70.08   Fraser                          MI         48026     Macomb                    1       Industrial
70.09   Clinton Township                MI         48035     Macomb                    1       Industrial
70.10   Clinton Township                MI         48035     Macomb                    1       Industrial
70.11   Clinton Township                MI         48036     Macomb                    1       Industrial
70.12   Clinton Township                MI         48036     Macomb                    1       Industrial
70.13   Clinton Township                MI         48035     Macomb                    1       Industrial
  71    New York                        NY         10012     New York                  1       Mixed Use
  72    Phoenix                         AZ         85044     Maricopa                  1       Office
  73    Aurora                          CO         80011     Adams                     1       Industrial
  74    Des Plaines                     IL         60018     Cook                      1       Manufactured Housing
  75    Homestead                       FL         33033     Miami-Dade                1       Retail
  76    Cincinnati                      OH         45245     Clermont                  1       Office
  77    Miami Beach                     FL         33139     Miami-Dade                1       Hotel
  78    New York                        NY         10013     New York                  1       Mixed Use
  79    American Fork                   UT         84003     Utah                      1       Retail
  80    Weston                          FL         33331     Broward                   1       Mixed Use
  81    Santa Monica                    CA         90404     Los Angeles               1       Self Storage
  82    Beltsville                      MD         20705     Prince Georges            1       Office
  83    Delray Beach                    FL         33484     Palm Beach                1       Retail
  84    Sacramento                      CA         95814     Sacramento                1       Mixed Use
  85    Dallas                          TX         75247     Dallas                    1       Office
  86    Park City                       IL         60085     Lake                      1       Manufactured Housing
  87    Southfield                      MI         48033     Oakland                   1       Office
  88    Springville                     UT         84663     Utah                      1       Office
  89    Oxnard                          CA         93033     Ventura                   1       Retail
  90    Comstock Park                   MI         49321     Kent                      1       Multifamily
  91    Newton                          MA         02464     Middlesex                 1       Retail
  92    Fort Worth                      TX         76132     Tarrant                   1       Multifamily
  93    Watertown                       CT         06779     Litchfield                1       Multifamily
  94    Boone                           NC         28607     Watuaga                   2       Hotel
94.01   Boone                           NC         28607     Watuaga                   1       Hotel
94.02   Boone                           NC         28607     Watuaga                   1       Hotel
  95    Stuart                          FL         34996     Martin                    1       Office
  96    Temecula                        CA         92590     Riverside                 1       Hotel
  97    Boston                          MA         02111     Suffolk                   1       Mixed Use
  98    South Jordan                    UT         84095     Salt Lake                 1       Office
  99    Orlando                         FL         32819     Orange                    1       Office
 100    Dunmore                         PA         18512     Lackawanna                1       Industrial
 101    Capitol Heights                 MD         20743     Prince George's           1       Retail
 102    Lake Park                       GA         31636     Lowndes                   1       Retail
 103    Dayton                          OH         45414     Montgomery                1       Office
 104    Lake Placid                     NY         12946     Essex                     1       Retail
 105    Milwaukee                       WI         53202     Milwaukee                 1       Office
 106    Dracut                          MA         01826     Middlesex                 1       Mixed Use
 107    Palm Springs                    CA         92262     Riverside                 1       Retail
 108    Vancouver                       WA         98685     Clark                     1       Multifamily
 109    Annapolis                       MD         21401     Anne Arundel              1       Retail
 110    North Las Vegas                 NV         89030     Clark                     1       Retail
 111    Walla Walla                     WA         99362     Walla Walla               1       Hotel
 112    Durham                          NC         27703     Durham                    1       Industrial
 113    Corpus Christi                  TX         78411     Nueces                    1       Multifamily
 114    Portage                         IN         46368     Porter                    1       Manufactured Housing
 115    Beaverton                       OR         97008     Washington                1       Office
 116    Eatontown                       NJ         07724     Monmouth                  1       Office
 117    Beaumont                        TX         77701     Jefferson                 1       Office
 118    Midland                         TX         79701     Midland                   1       Office
 119    Oklahoma City                   OK         73135     Oklahoma                  1       Office
 120    Eastham                         MA         02642     Barnstable                1       Hotel
 121    Macungie                        PA         18062     Lehigh                    1       Retail
 122    Wilmington                      DE         19801     New Castle                1       Retail
 123    Clarksville                     IN         47129     Clark                     1       Retail
 124    Park City                       IL         60085     Lake                      1       Manufactured Housing
 125    Sycamore                        IL         60178     Dekalb                    1       Manufactured Housing
 126    Beach Park                      IL         60087     Lake                      1       Manufactured Housing
 127    North Haven                     CT         06473     New Haven                 1       Hotel
 128    Grandville                      MI         49418     Ottawa                    1       Multifamily
 129    Omaha                           NE         68106     Douglas                   1       Hotel
 130    Novi                            MI         48377     Oakland                   1       Office
 131    Spring                          TX         77379     Harris                    1       Retail
 132    Terre Haute                     IN         47804     Vigo                      1       Retail
 133    Richardson                      TX         75081     Dallas                    1       Multifamily
 134    Oceanside                       CA         92056     San Diego                 1       Retail
 135    Park City                       IL         60085     Lake                      1       Manufactured Housing
 136    Saint Charles                   MO         63301     Saint Charles             1       Multifamily
 137    Juno Beach                      FL         33408     Palm Beach                1       Hotel
 138    Arvada                          CO         80002     Jefferson                 1       Multifamily
 139    McAllen                         TX         78504     Hidalgo                   1       Multifamily
 140    Elmwood Park and Saddlebrook    NJ     07407, 07663  Bergen                    1       Retail
 141    Cherry Hill                     NJ         08003     Camden                    1       Retail
 142    Waco                            TX         76701     McLennan                  1       Retail
 143    West Hollywood                  CA         90069     Los Angeles               1       Retail
 144    Exton                           PA         19341     Chester                   1       Hotel
 145    Beach Park                      IL         60099     Lake                      1       Manufactured Housing
 146    West Fargo                      ND         58078     Cass                      1       Manufactured Housing
 147    San Diego                       CA         92121     San Diego                 1       Industrial
 148    North Chelmsford                MA         01863     Middlesex                 1       Office
 149    Grand Rapids                    MI         49548     Kent                      1       Multifamily
 150    Pittsfield                      MA         01201     Berkshire                 1       Retail
 151    Baltimore                       MD         21201     Baltimore City            1       Multifamily
 152    Eustis                          FL         32726     Lake                      1       Retail
 153    Ventura                         CA         93004     Ventura                   1       Retail
 154    West Chicago                    IL         60185     Dupage                    1       Manufactured Housing
 155    Various                         UT        Various    Various                   2       Retail
155.01  Salt Lake City                  UT         84106     Salt Lake                 1       Retail
155.02  Provo                           UT         84604     Utah                      1       Retail
 156    Tempe                           AZ         85281     Maricopa                  1       Office
 157    Jackson                         MS         39202     Hinds                     1       Hotel
 158    Fort Worth                      TX         76118     Tarrant                   1       Self Storage
 159    Cincinnati                      OH         45249     Hamilton                  3       Various
159.01  Cincinnati                      OH         45249     Hamilton                  1       Retail
159.02  Cincinnati                      OH         45249     Hamilton                  1       Retail
159.03  Cincinnati                      OH         45249     Hamilton                  1       Office
 160    Houston                         TX         77072     Harris                    1       Retail
 161    Carrollton                      TX         75007     Dallas                    1       Self Storage
 162    Westville                       IN         46391     La Porte                  1       Multifamily
 163    La Grange                       IL         60525     Cook                      1       Manufactured Housing
 164    Myrtle Beach                    SC         29579     Horry                     1       Hotel
 165    Hagerstown                      MD         21742     Washington                1       Office
 166    Parker                          CO         80138     Douglas                   1       Office
 167    Gaffney                         SC         29341     Cherokee                  1       Retail
 168    Troy                            MI         48084     Oakland                   1       Office
 169    Humble                          TX         77346     Harris                    1       Retail
 170    Montville                       NJ         07045     Morris                    1       Self Storage
 171    Raleigh                         NC         27614     Wake                      1       Hotel
 172    Madison                         MS         39110     Madison                   1       Industrial
 173    Garden Grove                    CA         92840     Orange                    1       Retail
 174    Voorhees                        NJ         08043     Camden                    1       Hotel
 175    Philadelphia                    PA         19148     Philadelphia              1       Retail
 176    Woodland Hills                  CA         91367     Los Angeles               1       Office
 177    Camarillo                       CA         93012     Ventura                   1       Office
 178    Hauppauge                       NY         11788     Suffolk                   1       Industrial
 179    Anderson                        IN         46016     Madison                   1       Manufactured Housing
 180    Blue Island                     IL         60406     Cook                      1       Manufactured Housing
 181    Brooklyn                        NY         11210     Kings                     1       Mixed Use
 182    Brick                           NJ         08723     Ocean                     1       Retail
 183    Springdale                      OH         45246     Hamilton                  1       Multifamily
 184    Leesport                        PA         19533     Berks                     1       Retail
 185    Fishers                         IN         46038     Hamilton                  1       Retail
 186    Orem                            UT         84097     Utah                      1       Office
 187    Lakeville                       MN         55024     Dakota                    1       Manufactured Housing
 188    Temple                          TX         76502     Bell                      1       Retail
 189    Catonsville                     MD         21228     Baltimore                 1       Retail
 190    Louisville                      KY         40219     Jefferson                 1       Office
 191    Mesa                            AZ         85205     Maricopa                  1       Retail
 192    Brooklyn                        NY         11220     Kings                     1       Office
 193    Various                         PA        Various    Various                   2       Various
193.01  Glen Mills                      PA         19342     Delaware                  1       Retail
193.02  Kennett Square                  PA         19348     Chester                   1       Office
 194    Monteno                         IL         60950     Kankakee                  1       Manufactured Housing
 195    Fort Worth                      TX         76119     Tarrant                   1       Multifamily
 196    Latham                          NY         12110     Albany                    1       Office
 197    Weirton                         WV         26062     Brooke                    1       Hotel
 198    Alexandria                      VA         22304     Alexandria City           1       Industrial
 199    San Antonio                     TX         78217     Bexar                     1       Office
 200    Edison                          NJ         08837     Middlesex                 1       Retail
 201    Gainesville                     GA         30501     Hall                      1       Hotel
 202    Amarillo                        TX         79106     Potter                    1       Multifamily
 203    Holbrook                        NY         11741     Suffolk                   1       Industrial
 204    Virginia Beach                  VA         23462     Virginia Beach City       1       Industrial
 205    Philadelphia                    PA         19115     Philadelphia              1       Multifamily
 206    Various                       Various     Various    Various                   2       Manufactured Housing
206.01  Fargo                           ND         58103     Cass                      1       Manufactured Housing
206.02  Aurora                          IL         60505     Kane                      1       Manufactured Housing
 207    Corpus Christi                  TX         78415     Nueces                    1       Multifamily
 208    Somerset                        NJ         08873     Somerset                  1       Office
 209    Saint Petersburg                FL         33716     Pinellas                  1       Retail
 210    Somerville, Cambridge           MA     02143, 02139  Middlesex                 1       Multifamily
 211    Owings Mills                    MD         21117     Baltimore                 1       Office
 212    Phoenix                         AZ         85009     Maricopa                  1       Retail
 213    Philadelphia                    PA         19132     Philadelphia              1       Retail
 214    Layton                          UT         84041     Davis                     1       Office
 215    Mount Laurel                    NJ         08054     Burlington                1       Retail
 216    Greenville                      NC         27858     Pitt                      1       Retail
 217    Cincinnati                      OH         45245     Clermont                  1       Mixed Use
 218    Washington                      DC         20020     District of Columbia      1       Multifamily
 219    American Fork                   UT         84003     Utah                      1       Industrial
 220    Frisco                          TX         75034     Collin                    1       Office
 221    Baltimore                       MD         21201     Baltimore City            1       Parking Garage
 222    Edison                          NJ         08837     Middlesex                 1       Retail
 223    Massena                         NY         13662     St. Lawrence              1       Multifamily
 224    Madison                         MS         39110     Madison                   1       Industrial
 225    Pontiac                         IL         61764     Livingston                1       Mixed Use
 226    Bronx                           NY         10467     Bronx                     1       Multifamily
 227    Trinidad                        CO         81082     Las Animas                1       Retail
 228    San Antonio                     TX         78233     Bexar                     1       Retail
 229    Columbus                        OH         43215     Franklin                  1       Multifamily
 230    Lake Hopatcong                  NJ         07849     Morris                    1       Retail
 231    Fargo                           ND         58102     Cass                      1       Manufactured Housing
 232    Dry Ridge                       KY         41035     Grant                     1       Hotel
 233    Clinton Township                MI         48038     Macomb                    1       Retail
 234    Webb City                       MO         64870     Jasper                    1       Multifamily
 235    Mesa                            AZ         85206     Maricopa                  1       Retail
 236    Hutchinson                      MN         55350     McLeod                    1       Manufactured Housing
 237    Lodi                            CA         95242     San Joaquin               1       Retail
 238    Clarkston                       GA         30021     Dekalb                    1       Multifamily
 239    Clinton Township                MI         48036     Macomb                    1       Industrial
 240    Houston                         TX         77042     Harris                    1       Retail
 241    Burlington                      KY         41005     Boone                     1       Mixed Use
 242    Shreveport                      LA         71107     Caddo                     1       Retail


        PROPERTY                                              YEAR                     UNIT OF                       OCCUPANCY
LOAN #  SUBTYPE                            YEAR BUILT(20)  RENOVATED  UNITS(16),(23)   MEASURE     OCCUPANCY %(18)      DATE
------  -------                            --------------  ---------  --------------  ---------    ---------------   ---------

  1     CBD                                    1986                      1,030,309    Square Feet         97.3       02/01/07
  2     Anchored                               2006                        559,796    Square Feet         90.3       03/15/07
  3     Suburban                               2002                        473,940    Square Feet        100.0       02/27/07
  4     Suburban                               1970           1992         583,984    Square Feet        100.0       03/27/07
  5     Various                               Various       Various      1,918,201    Square Feet         99.4       03/23/07
 5.01   Warehouse/Distribution                 1978           2002         578,918    Square Feet        100.0       03/23/07
 5.02   Warehouse/Distribution                 2002                        308,000    Square Feet        100.0       03/23/07
 5.03   Warehouse/Distribution                 2000                        208,800    Square Feet        100.0       03/23/07
 5.04   Flex                                   1997                         81,003    Square Feet        100.0       03/23/07
 5.05   Flex                                   1989                        107,450    Square Feet        100.0       03/23/07
 5.06   Flex                                   1997                         69,888    Square Feet        100.0       03/23/07
 5.07   Warehouse/Distribution                 1981                         88,488    Square Feet        100.0       03/23/07
 5.08   Flex                                   1987                         63,488    Square Feet         83.0       03/23/07
 5.09   Flex                                   2004                         23,460    Square Feet        100.0       03/23/07
 5.10   Warehouse/Distribution                 1974           2005         105,785    Square Feet        100.0       03/23/07
 5.11   Flex                                   1973                        102,000    Square Feet        100.0       03/23/07
 5.12   Flex                                   1990                         53,812    Square Feet        100.0       03/23/07
 5.13   Flex                                   1989                         46,617    Square Feet        100.0       03/23/07
 5.14   Flex                                   1986           1994          39,692    Square Feet        100.0       03/23/07
 5.15   Flex                                   1998                         40,800    Square Feet        100.0       03/23/07
  6     Full Service                           1968           2005             398       Rooms            60.4       02/28/07
  7     Full Service                           2005                            201       Rooms            74.4       01/31/07
  8     Full Service                           1982           2006             381       Rooms            56.7       03/31/07
  9     Full Service                           1987           2005             253       Rooms            71.3       01/31/07
  10    Suburban                               1920           2006         265,634    Square Feet         89.8       06/01/07
  11    Full Service                           1986           2005             319       Rooms            68.1       03/31/07
  12    Suburban                              Various       Various        356,502    Square Feet         98.1       03/27/07
12.01   Suburban                               1989           2005         175,280    Square Feet        100.0       03/27/07
12.02   Suburban                               1986                         60,000    Square Feet        100.0       03/27/07
12.03   Suburban                               1988                         39,401    Square Feet         94.1       03/27/07
12.04   Suburban                               1978                         24,862    Square Feet        100.0       03/27/07
12.05   Suburban                               1977           1996          18,027    Square Feet         75.5       03/27/07
12.06   Suburban                               1978           1999          17,858    Square Feet        100.0       03/27/07
12.07   Suburban                               1985                         10,074    Square Feet        100.0       03/27/07
12.08   Suburban                               1986                         11,000    Square Feet        100.0       03/27/07
  13    Mid/High Rise                         Various         1997             490       Units            95.5       02/13/07
13.01   Mid/High Rise                          1965           1997             321       Units            95.6       02/13/07
13.02   Mid/High Rise                          1967           1997             169       Units            95.3       02/13/07
  14    Anchored                               1999                        139,646    Square Feet        100.0       02/01/07
  15    Anchored                               1999           2005         184,656    Square Feet         98.3       03/09/07
  16    Warehouse/Distribution                Various       Various      5,489,325    Square Feet         78.4        Various
16.01   Warehouse/Distribution                 1973           1978         455,227    Square Feet         83.6       10/10/06
16.02   Warehouse/Distribution                 1982           2000         226,423    Square Feet         79.7       11/06/06
16.03   Warehouse/Distribution                 1969           1971         299,776    Square Feet         89.8       10/01/06
16.04   Warehouse/Distribution                 1999                        243,170    Square Feet         90.6       10/09/06
16.05   Warehouse/Distribution                 1973           2003         163,796    Square Feet         92.3       10/01/06
16.06   Warehouse/Distribution                 1997                        252,419    Square Feet         83.8       10/01/06
16.07   Warehouse/Distribution                 1985           1995         252,075    Square Feet         81.9       10/01/06
16.08   Warehouse/Distribution                 1995                        270,772    Square Feet         91.6       10/01/06
16.09   Warehouse/Distribution                 1960           1985         573,183    Square Feet         41.0       12/03/06
16.10   Warehouse/Distribution                 1990           1993         431,369    Square Feet         80.3       10/01/06
16.11   Warehouse/Distribution                 1999                        127,260    Square Feet         50.2       10/18/06
16.12   Warehouse/Distribution                 1955           1989         188,734    Square Feet         89.7       10/01/06
16.13   Warehouse/Distribution                 1946           1974         458,518    Square Feet         40.5       10/09/06
16.14   Warehouse/Distribution                 1952           1979         327,601    Square Feet         53.1       10/16/06
16.15   Warehouse/Distribution                 1972           1984         168,007    Square Feet         87.1       10/01/06
16.16   Warehouse/Distribution                 1960           2005         118,003    Square Feet         83.6       10/01/06
16.17   Warehouse/Distribution                 1998                        111,499    Square Feet         93.2       10/10/06
16.18   Warehouse/Distribution                 1969           2004         260,356    Square Feet         90.0       10/03/06
16.19   Warehouse/Distribution                 1973                        398,223    Square Feet         45.3       09/27/06
16.20   Warehouse/Distribution                 1960           1968         162,914    Square Feet         31.3       10/01/06
  17    Anchored                               1996           1998          89,346    Square Feet        100.0       03/15/07
  18    Garden                                 1998           2001             530       Units            93.2       03/06/07
  19    Various                               Various       Various        243,058    Square Feet        100.0       06/01/07
19.01   Anchored                               2003                         40,872    Square Feet        100.0       06/01/07
19.02   Shadow Anchored                        1996                         68,037    Square Feet        100.0       06/01/07
19.03   Anchored                               1996                         66,937    Square Feet        100.0       06/01/07
19.04   Suburban                               1994                         18,654    Square Feet        100.0       06/01/07
19.05   Suburban                               1973           2000          14,829    Square Feet        100.0       06/01/07
19.06   Shadow Anchored                        1996                          7,488    Square Feet        100.0       06/01/07
19.07   Anchored                               1993                         14,294    Square Feet        100.0       06/01/07
19.08   Suburban                               2000                          8,323    Square Feet        100.0       06/01/07
19.09   Suburban                               1997                          3,624    Square Feet        100.0       06/01/07
  20    Anchored                               1992                        306,293    Square Feet         97.9       04/16/07
  21    Anchored                               2006                        243,669    Square Feet        100.0       03/09/07
  22    Anchored                               1987           2006         165,142    Square Feet         90.8       02/15/07
  23    Flex                                   1955           2002         536,426    Square Feet        100.0       06/01/07
  24    Garden                                Various       Various            626       Units            97.1       12/31/06
24.01   Garden                                 1997           2006             240       Units            96.7       12/31/06
24.02   Garden                                 1973           2007             184       Units            96.7       12/31/06
24.03   Garden                                 1971           2005             202       Units            98.0       12/31/06
  25    Anchored                               1992           2005         154,692    Square Feet        100.0       05/31/07
  26    Anchored                               1967           1975         219,908    Square Feet         99.3       03/20/07
  27    Full Service                           1927           2005             165       Rooms            66.5       02/28/07
  28    Warehouse/Distribution                 2007                        851,370    Square Feet        100.0       06/01/07
  29    Full Service                           1981           2005             229       Rooms            77.3       12/31/06
  30    Manufactured Housing                   1975                            191       Pads             98.4       03/31/07
  31    Flex                                   1995           2007          99,961    Square Feet        100.0       03/14/07
  32    Anchored                               2006                        163,744    Square Feet         93.9       02/28/07
  33    Student Housing                        1952           1990             619       Units            94.2       03/27/07
  34    Unanchored                             1985           1994          56,761    Square Feet         98.0       03/05/07
  35    Suburban                               2000                        109,811    Square Feet         86.6       12/31/06
  36    Anchored                               1989           2006         116,670    Square Feet        100.0       06/01/07
  37    Manufactured Housing                   1968                            130       Pads             96.2       03/31/07
  38    Limited Service                        1995           2006             136       Rooms            78.8       11/30/06
  39    Warehouse/Distribution                 1941           2005       1,093,510    Square Feet         97.6       10/17/06
  40    Anchored                               1956           2000         226,769    Square Feet         96.2       04/23/07
  41    Office/Retail                          2007                         72,621    Square Feet         78.7       12/14/06
  42    Suburban                               2006                        130,225    Square Feet         80.0       03/01/07
  43    Full Service                           1967           2004             187       Rooms            66.4       11/30/06
  44    Garden                                Various         2006             488       Units            93.9       12/31/06
44.01   Garden                                 1973           2006             304       Units            95.1       12/31/06
44.02   Garden                                 1977           2006             184       Units            91.8       12/31/06
  45    Suburban                               2006                        130,225    Square Feet         81.8       03/01/07
  46    Anchored                               1979           2007         112,679    Square Feet         96.8       03/01/07
  47    Self Storage                          Various       Various          2,635       Units            87.6       03/31/07
47.01   Self Storage                           1997           2006             977       Units            85.3       03/31/07
47.02   Self Storage                           1997           2007             824       Units            91.1       03/31/07
47.03   Self Storage                           2001           2004             834       Units            86.9       03/31/07
  48    Garden                                 2004                            272       Units            96.0       01/24/07
  49    Office/Retail                          1999                         94,399    Square Feet        100.0       02/23/07
  50    Garden                                 1987           2002             256       Units            83.2       12/27/06
  51    Anchored                               2006                        135,266    Square Feet         84.1       04/18/07
  52    Unanchored                             1986                         49,370    Square Feet         96.4       03/19/07
  53    Anchored                               1984           2006         185,092    Square Feet        100.0       04/22/07
  54    CBD                                    1904           1993          96,430    Square Feet         96.2       03/29/07
  55    Garden                                 1972                            209       Units            89.5       03/07/07
  56    Anchored                               2001                        130,805    Square Feet         93.8       02/21/07
  57    Flex                                   1966           1989         486,531    Square Feet        100.0       01/01/07
  58    Anchored                               1985                        151,132    Square Feet         83.9       01/25/07
  59    Warehouse/Distribution                Various       Various        414,225    Square Feet        100.0       03/31/07
59.01   Warehouse/Distribution                 1972           1990         261,729    Square Feet        100.0       03/31/07
59.02   Warehouse/Distribution                 1990                        152,496    Square Feet        100.0       03/31/07
  60    Manufactured Housing                   1970           1994             364       Pads             96.4       03/01/07
  61    Garden                                 1975           2004             304       Units            95.1       02/27/07
  62    Suburban                               1925           1994          44,673    Square Feet        100.0       01/01/07
  63    Garden                                 2006                            200       Units            95.0       03/07/07
  64    Garden                                 1976                            118       Units            96.6       02/26/07
  65    Manufactured Housing                   1964                            247       Pads             98.0       04/02/07
  66    CBD                                    1900           1979          33,530    Square Feet         83.5       04/17/07
  67    Anchored                               1980           1985         136,487    Square Feet         84.4       04/19/07
  68    Anchored                               1996                        108,312    Square Feet        100.0       03/31/07
  69    Anchored                               1968           1997         186,412    Square Feet         93.4       11/29/06
  70    Flex                                  Various       Various        376,038    Square Feet         91.6       03/01/07
70.01   Flex                                   1955           2005          97,422    Square Feet         98.2       03/01/07
70.02   Flex                                   1990                         43,460    Square Feet         72.4       03/01/07
70.03   Flex                                   1968           2003          56,138    Square Feet         68.4       03/01/07
70.04   Flex                                   1969           2004          40,790    Square Feet        100.0       03/01/07
70.05   Flex                                   1999                         28,280    Square Feet        100.0       03/01/07
70.06   Flex                                   1999                         22,280    Square Feet        100.0       03/01/07
70.07   Flex                                   2000                         20,980    Square Feet        100.0       03/01/07
70.08   Flex                                   1970                         14,688    Square Feet        100.0       03/01/07
70.09   Flex                                   1997                         13,300    Square Feet        100.0       03/01/07
70.10   Flex                                   1997                         12,230    Square Feet        100.0       03/01/07
70.11   Flex                                   1990           2001          10,000    Square Feet        100.0       03/01/07
70.12   Flex                                   1990           2001           8,970    Square Feet        100.0       03/01/07
70.13   Flex                                   1978           2001           7,500    Square Feet        100.0       03/01/07
  71    Multifamily/Retail                     1900           2001          16,800    Square Feet        100.0       03/08/07
  72    Suburban                               2001                         96,911    Square Feet         93.3       12/11/06
  73    Warehouse/Distribution                 2002                        262,500    Square Feet        100.0       03/31/06
  74    Manufactured Housing                   1954                            309       Pads             99.4       03/01/07
  75    Anchored                               2007                        137,626    Square Feet        100.0       06/01/07
  76    Suburban                               2007                         95,833    Square Feet        100.0       03/07/07
  77    Limited Service                        1937           2006              67       Rooms            77.8       04/01/07
  78    Office/Retail                          1860           1989          24,500    Square Feet        100.0       03/01/07
  79    Anchored                               2006                        100,981    Square Feet         95.0       04/12/07
  80    Office/Retail                          2002                         43,308    Square Feet        100.0       02/28/07
  81    Self Storage                           1967           1983           1,050       Units            97.1       12/28/06
  82    Suburban                               1938           2002         126,243    Square Feet         94.9       03/14/07
  83    Anchored                               1981           2006          77,677    Square Feet         90.3       02/01/07
  84    Multifamily/Retail                     2000                             69    Square Feet         97.1       04/10/07
  85    Suburban                               1981           1993         160,024    Square Feet        100.0       03/15/07
  86    Manufactured Housing                   1982           1991             225       Pads             98.2       03/01/07
  87    Suburban                               1986                        107,977    Square Feet         87.9       04/11/07
  88    Suburban                               2002                         84,511    Square Feet        100.0       02/12/07
  89    Anchored                               1959           2001          80,915    Square Feet        100.0       04/04/07
  90    Garden                                 1998                            312       Units            92.6       01/30/07
  91    Anchored                               1960           1991          32,269    Square Feet        100.0       01/04/07
  92    Garden                                 1981                            272       Units            95.2       02/28/07
  93    Garden                                 1973           2006             182       Units            94.5       02/06/07
  94    Limited Service                       Various                          141       Rooms            66.7       01/31/07
94.01   Limited Service                        2001                             73       Rooms            73.9       01/31/07
94.02   Limited Service                        2006                             68       Rooms            59.0       01/31/07
  95    Suburban                               1979           2007          72,910    Square Feet         94.8       03/01/07
  96    Limited Service                        1999                             90       Rooms            73.8       11/30/06
  97    Office/Retail                          1899           1998          37,783    Square Feet        100.0       12/31/06
  98    Suburban                               1999                         73,049    Square Feet        100.0       04/03/07
  99    Suburban                               2003                         59,927    Square Feet        100.0       01/17/07
 100    Flex                                   1967           2006         296,000    Square Feet        100.0       06/01/07
 101    Anchored                               1988                         79,400    Square Feet        100.0       01/23/07
 102    Anchored                               1982           1986         245,464    Square Feet         80.6       03/20/07
 103    Suburban                               1987           2004         141,149    Square Feet         98.2       12/11/06
 104    Anchored                               2000                         74,469    Square Feet        100.0       02/07/07
 105    CBD                                    1928           1997         147,799    Square Feet         82.0       02/12/07
 106    Multifamily/Retail                     1880           2006          73,285    Square Feet         90.6       03/07/07
 107    Unanchored                             1980           1999          35,465    Square Feet         93.2       10/01/06
 108    Garden                                 1996                            136       Units            99.3       03/08/07
 109    Unanchored                             2002                         35,617    Square Feet         95.3       12/01/06
 110    Anchored                               2006                         71,548    Square Feet         49.2       03/31/07
 111    Full Service                           1928           2001              91       Rooms            76.6       12/31/06
 112    Warehouse/Distribution                 2007                        413,820    Square Feet        100.0       06/01/07
 113    Garden                                 1978                            286       Units            86.4       12/28/05
 114    Manufactured Housing                   1971                            328       Pads             89.9       03/01/07
 115    Suburban                               1985                         59,657    Square Feet         93.0       02/19/07
 116    Suburban                               1984           2005          59,665    Square Feet        100.0       12/31/06
 117    CBD                                    1971           1994         141,525    Square Feet        100.0       03/16/07
 118    CBD                                    1983                        182,062    Square Feet         91.0       03/01/07
 119    Suburban                               2002                         83,773    Square Feet        100.0       02/28/07
 120    Full Service                           1973           2002             161       Rooms            52.2       01/31/07
 121    Anchored                               2006                         36,000    Square Feet        100.0       02/22/07
 122    Anchored                               1981           2007          81,180    Square Feet         96.1       02/14/07
 123    Shadow Anchored                        2005                         40,000    Square Feet         89.1       03/16/07
 124    Manufactured Housing                   1955           1997             194       Pads             95.9       03/01/07
 125    Manufactured Housing                   1969                            247       Pads            100.0       03/01/07
 126    Manufactured Housing                   1958           2005             193       Pads             96.4       03/01/07
 127    Full Service                           1974           2002             143       Rooms            68.3       11/30/06
 128    Garden                                 1989                            212       Units            91.5       02/15/07
 129    Limited Service                        1989           2006             108       Rooms            75.5       12/28/07
 130    Suburban                               2005                         62,200    Square Feet         70.5       01/12/07
 131    Shadow Anchored                        2002                         47,343    Square Feet         89.9       03/01/07
 132    Anchored                               1965           2004         341,735    Square Feet         80.4       10/01/06
 133    Garden                                 1979           2005             200       Units            89.0       03/09/07
 134    Anchored                               1987           2006          42,646    Square Feet        100.0       04/11/07
 135    Manufactured Housing                   1967           1999             216       Pads             87.5       03/01/07
 136    Garden                                 2005                             66       Units            93.9       04/29/07
 137    Limited Service                        1995           1998              90       Rooms            70.1       12/31/06
 138    Garden                                 1971           2001             274       Units            86.5       02/01/07
 139    Garden                                 2004                            120       Units            87.5       03/01/07
 140    Unanchored                             1978           1995          40,523    Square Feet        100.0       03/01/07
 141    Unanchored                             1975           2006          59,268    Square Feet        100.0       03/21/07
 142    Unanchored                             1906           2003          92,874    Square Feet        100.0       11/01/06
 143    Unanchored                             1996                         11,735    Square Feet        100.0       06/01/07
 144    Limited Service                        1989           2006             104       Rooms            70.6       12/31/06
 145    Manufactured Housing                   1958           1974             168       Pads             81.0       03/01/07
 146    Manufactured Housing                   1952                            380       Pads             94.7       09/30/06
 147    Flex                                   1986                         47,483    Square Feet        100.0       01/01/07
 148    Suburban                               2001           2007          40,996    Square Feet        100.0       06/01/07
 149    Garden                                 1998                            168       Units            95.8       02/05/07
 150    Anchored                               1959           2005          94,613    Square Feet         93.9       02/01/07
 151    Mid/High Rise                          1870           1989              58       Units            96.6       03/01/07
 152    Unanchored                             2006                         20,639    Square Feet         81.3       03/01/07
 153    Anchored                               1967           2006          62,908    Square Feet         97.5       01/01/07
 154    Manufactured Housing                   1969                            142       Pads             99.3       01/10/07
 155    Anchored                              Various       Various         65,579    Square Feet        100.0       06/01/07
155.01  Anchored                               2001                         41,536    Square Feet        100.0       06/01/07
155.02  Anchored                               1952           2002          24,043    Square Feet        100.0       06/01/07
 156    Suburban                               2007                         31,977    Square Feet         77.7       02/27/07
 157    Limited Service                        1991           2005             107       Rooms            72.1       12/31/06
 158    Self Storage                           2006                            637       Units            87.9       03/09/07
 159    Various                               Various                       44,900    Square Feet        100.0        Various
159.01  Unanchored                             1998                         30,500    Square Feet        100.0       04/17/07
159.02  Unanchored                             2002                          8,000    Square Feet        100.0       06/01/07
159.03  Suburban                               1998                          6,400    Square Feet        100.0       04/17/07
 160    Unanchored                             2006                         30,000    Square Feet        100.0       04/30/07
 161    Self Storage                           2006                            684       Units            89.9       03/09/07
 162    Garden                                 2005                             64       Units            84.8       03/23/07
 163    Manufactured Housing                   1965                            132       Pads             91.7       03/01/07
 164    Limited Service                        2001           2006              80       Rooms            62.9       12/31/06
 165    Suburban                               1985           2001          50,000    Square Feet        100.0       06/01/07
 166    Suburban                               2005                         27,858    Square Feet        100.0       03/01/07
 167    Anchored                               2006                         56,940    Square Feet        100.0       06/01/07
 168    Suburban                               1997           2004          53,535    Square Feet         94.4       03/07/07
 169    Unanchored                             1985           2002         151,239    Square Feet         73.0       03/23/07
 170    Self Storage                           2001                            793       Units            79.3       01/11/07
 171    Limited Service                        2002                             94       Rooms            80.1       01/31/07
 172    Warehouse/Distribution                 1990                        200,783    Square Feet        100.0       12/09/06
 173    Anchored                               1975           2006          44,065    Square Feet        100.0       01/12/07
 174    Limited Service                        2002                             80       Rooms            71.5       12/31/06
 175    Unanchored                             1983                         34,200    Square Feet         79.5       12/19/06
 176    Suburban                               1979           2005          24,240    Square Feet        100.0       02/21/07
 177    Suburban                               1984                         81,986    Square Feet         84.8       01/01/07
 178    Flex                                   2004                         64,500    Square Feet        100.0       04/12/07
 179    Manufactured Housing                   1960           1970             242       Pads             90.9       04/11/07
 180    Manufactured Housing                   1965                            183       Pads             91.3       03/01/07
 181    Office/Retail                          2004           2006          22,773    Square Feet        100.0       02/02/07
 182    Anchored                               1997           2007          27,811    Square Feet        100.0       06/01/07
 183    Garden                                 1988                            120       Units            92.5       03/06/07
 184    Unanchored                             2002                         52,763    Square Feet        100.0       06/01/07
 185    Unanchored                             1997                         29,580    Square Feet        100.0       03/31/07
 186    Suburban                               1978                         45,437    Square Feet         87.2       04/24/07
 187    Manufactured Housing                   1984                            165       Pads             89.7       10/31/06
 188    Anchored                               1974           1992          89,743    Square Feet        100.0       02/28/07
 189    Unanchored                             1963                         42,000    Square Feet        100.0       06/01/07
 190    Suburban                               2004                         30,050    Square Feet        100.0       03/16/07
 191    Shadow Anchored                        2004                         24,616    Square Feet         85.3       01/03/07
 192    Suburban                               1966           1998          15,075    Square Feet        100.0       06/01/07
 193    Various                               Various       Various         38,636    Square Feet        100.0       03/23/07
193.01  Unanchored                             1999                         12,636    Square Feet        100.0       03/23/07
193.02  Suburban                               2000           2001          26,000    Square Feet        100.0       03/23/07
 194    Manufactured Housing                   1966                            188       Pads            100.0       03/01/07
 195    Garden                                 1983           1997             212       Units            97.2       02/12/07
 196    Suburban                               2006                         36,872    Square Feet         89.7       02/01/07
 197    Full Service                           1977           1998             118       Rooms            57.5       01/31/07
 198    Warehouse/Distribution                 1965           1996          42,304    Square Feet        100.0       03/28/07
 199    Suburban                               1983           2006          57,332    Square Feet         91.5       03/05/07
 200    Anchored                               1998                         41,515    Square Feet        100.0       06/01/07
 201    Limited Service                        1996                             74       Rooms            81.8       01/31/07
 202    Garden                                 1983           2002             168       Units            89.2       02/28/07
 203    Flex                                   2003                         51,540    Square Feet        100.0       06/01/07
 204    Flex                                   1955           2006          95,379    Square Feet        100.0       06/01/07
 205    Garden                                 1965                            100       Units            99.0       11/14/06
 206    Manufactured Housing                  Various                          276       Pads             91.3       02/28/07
206.01  Manufactured Housing                   1958                            205       Pads             88.3       02/28/07
206.02  Manufactured Housing                   1962                             71       Pads            100.0       02/28/07
 207    Garden                                 1968                            160       Units            87.5       02/01/07
 208    Suburban                               1981           2006          36,000    Square Feet        100.0       06/01/07
 209    Anchored                               2003                         28,800    Square Feet        100.0       06/01/07
 210    Mid/High Rise                          1930           2006              71       Units           100.0       03/01/07
 211    Suburban                               1997                         38,000    Square Feet        100.0       01/01/07
 212    Anchored                               1959           2006         157,376    Square Feet        100.0       03/13/07
 213    Anchored                               1985           1994          67,459    Square Feet        100.0       01/30/07
 214    Suburban                               2003                         30,170    Square Feet         94.1       04/01/07
 215    Anchored                               2006                        216,765    Square Feet        100.0       06/01/07
 216    Unanchored                             1981                         40,000    Square Feet        100.0       06/01/07
 217    Office/Retail                          1988                         54,581    Square Feet         84.0       03/09/07
 218    Garden                                 1966           2005              66       Units            98.5       02/01/07
 219    Warehouse/Distribution                 1996                        122,333    Square Feet        100.0       06/01/07
 220    Suburban                               2005                         22,290    Square Feet        100.0       02/08/07
 221    Parking Garage                         1978                            302       Units           100.0       06/01/07
 222    Anchored                               1999                         15,000    Square Feet        100.0       06/01/07
 223    Garden                                 1978           1996              88       Units           100.0       01/24/07
 224    Flex                                   2005                        152,000    Square Feet        100.0       12/09/06
 225    Manufactured Housing/Self Storage      1961                            361    Pads/Units          95.6       03/01/07
 226    Garden                                 1928           2000              47       Units            95.7       02/09/07
 227    Shadow Anchored                        1983           2006          57,248    Square Feet        100.0       01/03/07
 228    Unanchored                             2006                         18,250    Square Feet         65.3       02/13/07
 229    Garden                                 1907           2005              26       Units           100.0       04/11/07
 230    Anchored                               1971           2004          50,000    Square Feet        100.0       03/09/07
 231    Manufactured Housing                   1972                            163       Pads             98.8       09/30/06
 232    Limited Service                        2000                             62       Rooms            60.3       12/31/06
 233    Unanchored                             1989                         28,257    Square Feet         95.2       01/29/07
 234    Garden                                 2005                             64       Units            93.8       01/05/07
 235    Anchored                               1994                         23,500    Square Feet        100.0       03/26/07
 236    Manufactured Housing                   1968                            213       Pads             85.9       10/31/06
 237    Unanchored                             2002                          9,009    Square Feet        100.0       03/15/07
 238    Garden                                 1971                             48       Units            97.9       02/20/07
 239    Flex                                   1984           2006          91,740    Square Feet         90.0       12/31/06
 240    Unanchored                             1975                         14,875    Square Feet         94.1       02/27/07
 241    Office/Retail                          2006                         14,410    Square Feet        100.0       02/07/07
 242    Anchored                               2000                         13,566    Square Feet        100.0       02/07/07


                                                                    ORIGINAL                       CURRENT                    LOAN
             APPRAISED      APPRAISAL   CURRENT      ORIGINAL        BALANCE        CURRENT        BALANCE    % OF INITIAL    GROUP
LOAN #  VALUE ($)(14),(22)   DATE(14)  LTV % (1)  BALANCE ($)(2)  PER UNIT ($)  BALANCE ($)(2)  PER UNIT ($)  POOL BALANCE   1 OR 2
------  ------------------  ---------  ---------  --------------  ------------  --------------  ------------  ------------   -------

   1       1,000,000,000     02/01/07     75.0      225,000,000          728      225,000,000          728         6.8%         1
   2         140,000,000     11/01/07     78.6      110,000,000          197      110,000,000          197         3.3%         1
   3         110,000,000     02/20/07     77.3       85,000,000          179       85,000,000          179         2.6%         1
   4          81,200,000     02/20/07     80.0       65,000,000          111       65,000,000          111         2.0%         1
   5          81,315,000     Various      73.8       60,000,000           31       60,000,000           31         1.8%         1
 5.01         22,000,000     02/26/07                16,234,000           28       16,234,000           28
 5.02         12,500,000     02/15/07                 9,224,000           30        9,224,000           30
 5.03          8,850,000     02/14/07                 6,530,000           31        6,530,000           31
 5.04          4,900,000     02/22/07                 3,616,000           45        3,616,000           45
 5.05          4,675,000     02/27/07                 3,449,000           32        3,449,000           32
 5.06          4,350,000     02/22/07                 3,210,000           46        3,210,000           46
 5.07          4,090,000     03/09/07                 3,018,000           34        3,018,000           34
 5.08          3,600,000     02/22/07                 2,656,000           42        2,656,000           42
 5.09          3,000,000     02/22/07                 2,214,000           94        2,214,000           94
 5.10          2,700,000     02/14/07                 1,992,000           19        1,992,000           19
 5.11          2,600,000     02/14/07                 1,918,000           19        1,918,000           19
 5.12          2,400,000     02/18/07                 1,771,000           33        1,771,000           33
 5.13          2,050,000     02/18/07                 1,512,000           32        1,512,000           32
 5.14          1,900,000     02/22/07                 1,402,000           35        1,402,000           35
 5.15          1,700,000     02/18/07                 1,254,000           31        1,254,000           31
   6          79,300,000     04/01/09     64.9       51,500,000      129,397       51,500,000      129,397         1.6%         1
   7          67,100,000     02/07/07     67.1       45,000,000      223,881       45,000,000      223,881         1.4%         1
   8          61,100,000     01/01/09     71.8       44,000,000      115,486       43,879,038      115,168         1.3%         1
   9          52,600,000     03/20/08     75.7       39,800,000      157,312       39,800,000      157,312         1.2%         1
  10          48,000,000     10/26/06     79.2       38,000,000          143       38,000,000          143         1.2%         1
  11          50,600,000     04/01/08     75.1       38,000,000      119,122       38,000,000      119,122         1.2%         1
  12          46,700,000     02/20/07     78.2       36,500,000          102       36,500,000          102         1.1%         1
 12.01        22,300,000     02/20/07                17,430,000           99       17,430,000           99
 12.02         8,000,000     02/20/07                 6,250,000          104        6,250,000          104
 12.03         5,500,000     02/20/07                 4,300,000          109        4,300,000          109
 12.04         3,300,000     02/20/07                 2,580,000          104        2,580,000          104
 12.05         2,300,000     02/20/07                 1,800,000          100        1,800,000          100
 12.06         2,200,000     02/20/07                 1,720,000           96        1,720,000           96
 12.07         1,600,000     02/20/07                 1,250,000          124        1,250,000          124
 12.08         1,500,000     02/20/07                 1,170,000          106        1,170,000          106
  13          47,300,000     02/09/07     77.2       36,500,000       74,490       36,500,000       74,490         1.1%         2
 13.01        30,200,000     02/09/07                23,400,000       72,897       23,400,000       72,897
 13.02        17,100,000     02/09/07                13,100,000       77,515       13,100,000       77,515
  14          45,700,000     11/20/06     77.7       35,500,000          254       35,500,000          254         1.1%         1
  15          44,290,000     03/05/07     80.0       35,432,000          192       35,432,000          192         1.1%         1
  16         461,350,000     Various      75.9       35,000,000           64       35,000,000           64         1.1%         1
 16.01        54,800,000     10/10/06                 4,384,000           96        4,384,000           96
 16.02        40,500,000     11/06/06                 3,240,000          143        3,240,000          143
 16.03        38,200,000     10/01/06                 2,941,400           98        2,941,400           98
 16.04        34,500,000     10/09/06                 2,760,000          114        2,760,000          114
 16.05        32,400,000     10/01/06                 2,494,800          152        2,494,800          152
 16.06        28,400,000     10/01/06                 2,186,800           87        2,186,800           87
 16.07        24,800,000     10/01/06                 1,909,600           76        1,909,600           76
 16.08        24,500,000     10/01/06                 1,886,500           70        1,886,500           70
 16.09        22,000,000     12/03/06                 1,617,000           28        1,617,000           28
 16.10        19,000,000     10/01/06                 1,520,000           35        1,520,000           35
 16.11        19,400,000     10/18/06                 1,493,800          117        1,493,800          117
 16.12        20,600,000     10/01/06                 1,475,100           78        1,475,100           78
 16.13        16,600,000     10/09/06                 1,278,200           28        1,278,200           28
 16.14        15,300,000     10/16/06                 1,178,100           36        1,178,100           36
 16.15        13,800,000     10/01/06                 1,062,600           63        1,062,600           63
 16.16        10,950,000     10/01/06                   876,000           74          876,000           74
 16.17        11,300,000     10/10/06                   870,100           78          870,100           78
 16.18        13,700,000     10/03/06                   685,000           26          685,000           26
 16.19        13,200,000     09/27/06                   660,000           17          660,000           17
 16.20         7,400,000     10/01/06                   481,000           30          481,000           30
  17          45,600,000     03/09/07     76.8       35,000,000          392       35,000,000          392         1.1%         1
  18          79,900,000     02/12/07     43.6       35,000,000       66,038       34,846,323       65,748         1.1%         2
  19          40,050,000     Various      79.9       32,000,000          132       32,000,000          132         1.0%         1
 19.01         9,750,000     02/08/07                 7,800,000          191        7,800,000          191
 19.02         8,900,000     02/09/07                 7,110,000          105        7,110,000          105
 19.03         8,000,000     02/18/07                 6,400,000           96        6,400,000           96
 19.04         3,700,000     02/08/07                 2,960,000          159        2,960,000          159
 19.05         2,700,000     02/08/07                 2,160,000          146        2,160,000          146
 19.06         2,210,000     02/18/07                 1,768,000          236        1,768,000          236
 19.07         2,200,000     02/18/07                 1,760,000          123        1,760,000          123
 19.08         1,930,000     02/08/07                 1,514,000          182        1,514,000          182
 19.09           660,000     02/08/07                   528,000          146          528,000          146
  20          59,300,000     04/18/07     52.6       31,200,000          102       31,200,000          102         0.9%         1
  21          38,750,000     05/01/07     80.0       31,000,000          127       31,000,000          127         0.9%         1
  22          38,100,000     07/22/07     80.1       30,500,000          185       30,500,000          185         0.9%         1
  23          37,250,000     01/05/07     79.5       29,600,000           55       29,600,000           55         0.9%         1
  24          37,240,000     01/10/07     78.4       29,200,000       46,645       29,200,000       46,645         0.9%         2
 24.01        13,280,000     01/10/07                10,300,000       42,917       10,300,000       42,917
 24.02        12,900,000     01/10/07                10,100,000       54,891       10,100,000       54,891
 24.03        11,060,000     01/10/07                 8,800,000       43,564        8,800,000       43,564
  25          33,750,000     03/29/07     80.0       27,000,000          175       27,000,000          175         0.8%         1
  26          35,000,000     03/20/07     77.1       27,000,000          123       27,000,000          123         0.8%         1
  27          35,400,000     03/01/08     76.2       27,000,000      163,636       26,963,898      163,418         0.8%         1
  28          38,300,000     12/15/06     69.7       26,700,000           31       26,700,000           31         0.8%         1
  29          36,000,000     03/01/09     73.6       26,500,000      115,721       26,500,000      115,721         0.8%         1
  30          33,100,000     03/12/07     80.0       26,480,000      138,639       26,480,000      138,639         0.8%         2
  31          39,100,000     07/01/07     66.2       26,000,000          260       25,892,618          259         0.8%         1
  32          33,100,000     01/01/07     74.9       24,800,000          151       24,800,000          151         0.8%         1
  33          31,700,000     02/28/07     77.9       24,700,000       39,903       24,700,000       39,903         0.8%         2
  34          31,600,000     07/01/07     77.5       24,500,000          432       24,500,000          432         0.7%         1
  35          28,500,000     01/02/07     77.2       22,000,000          200       22,000,000          200         0.7%         1
  36          29,600,000     04/30/07     72.6       21,500,000          184       21,500,000          184         0.7%         1
  37          27,000,000     03/12/07     79.1       21,350,000      164,231       21,350,000      164,231         0.6%         2
  38          28,400,000     01/04/07     75.0       21,300,000      156,618       21,300,000      156,618         0.6%         1
  39          28,500,000     09/11/06     73.7       21,000,000           19       21,000,000           19         0.6%         1
  40          26,300,000     03/20/07     79.8       21,000,000           93       21,000,000           93         0.6%         1
  41          31,000,000     07/01/07     67.7       21,000,000          289       21,000,000          289         0.6%         1
  42          25,400,000     11/01/07     77.1       19,600,000          151       19,572,570          150         0.6%         1
  43          25,400,000     03/22/07     75.5       19,200,000      102,674       19,187,144      102,605         0.6%         1
  44          23,950,000     01/10/07     79.7       19,100,000       39,139       19,100,000       39,139         0.6%         2
 44.01        13,700,000     01/10/07                10,900,000       35,855       10,900,000       35,855
 44.02        10,250,000     01/10/07                 8,200,000       44,565        8,200,000       44,565
  45          24,680,000     03/15/07     77.3       19,100,000          147       19,073,270          146         0.6%         1
  46          24,400,000     03/22/07     76.8       18,750,000          166       18,750,000          166         0.6%         1
  47          27,400,000     Various      67.5       18,500,000        7,021       18,483,293        7,015         0.6%         1
 47.01         8,500,000     12/28/06                 6,600,000        6,755        6,594,040        6,749
 47.02        11,500,000     03/28/07                 6,000,000        7,282        5,994,582        7,275
 47.03         7,400,000     12/28/06                 5,900,000        7,074        5,894,672        7,068
  48          25,600,000     01/04/07     70.3       18,000,000       66,176       18,000,000       66,176         0.5%         2
  49          24,300,000     11/09/06     72.4       17,600,000          186       17,600,000          186         0.5%         1
  50          23,000,000     03/01/07     75.7       17,400,000       67,969       17,400,000       67,969         0.5%         2
  51          21,150,000     03/02/08     79.2       16,750,000          124       16,750,000          124         0.5%         1
  52          20,700,000     04/01/07     80.0       16,550,000          335       16,550,000          335         0.5%         1
  53          20,700,000     03/03/07     79.7       16,500,000           89       16,500,000           89         0.5%         1
  54          25,800,000     03/12/07     64.0       16,500,000          171       16,500,000          171         0.5%         1
  55          24,500,000     03/01/09     65.3       16,000,000       76,555       16,000,000       76,555         0.5%         2
  56          20,500,000     03/14/07     78.0       16,000,000          122       16,000,000          122         0.5%         1
  57          20,700,000     01/09/07     77.3       16,000,000           33       16,000,000           33         0.5%         1
  58          20,000,000     01/26/07     80.0       16,000,000          106       16,000,000          106         0.5%         1
  59          20,900,000     Various      75.6       15,800,000           38       15,800,000           38         0.5%         1
 59.01        11,600,000     09/13/06                 9,200,000           35        9,200,000           35
 59.02         9,300,000     09/22/06                 6,600,000           43        6,600,000           43
  60          19,000,000     02/22/07     79.4       15,200,000       41,758       15,200,000       41,758         0.5%         2
  61          19,100,000     03/01/08     79.6       15,200,000       50,000       15,200,000       50,000         0.5%         2
  62          21,500,000     03/21/07     69.8       15,000,000          336       15,000,000          336         0.5%         1
  63          19,000,000     01/29/07     78.9       15,000,000       75,000       15,000,000       75,000         0.5%         2
  64          19,550,000     01/23/07     76.7       15,000,000      127,119       15,000,000      127,119         0.5%         2
  65          21,300,000     02/20/07     70.4       15,000,000       60,729       15,000,000       60,729         0.5%         2
  66          28,200,000     03/06/07     53.2       15,000,000          447       15,000,000          447         0.5%         1
  67          22,100,000     03/08/07     66.5       14,700,000          108       14,700,000          108         0.4%         1
  68          18,000,000     03/12/07     79.9       14,400,000          133       14,387,748          133         0.4%         1
  69          18,000,000     10/04/06     78.9       14,200,000           76       14,200,000           76         0.4%         1
  70          17,745,000     Various      79.9       14,172,000           38       14,172,000           38         0.4%         1
 70.01         4,100,000     11/21/06                 3,280,000           34        3,280,000           34
 70.02         2,300,000     11/21/06                 1,840,000           42        1,840,000           42
 70.03         2,200,000     11/21/06                 1,760,000           31        1,760,000           31
 70.04         1,700,000     11/30/06                 1,360,000           33        1,360,000           33
 70.05         1,530,000     11/22/06                 1,208,000           43        1,208,000           43
 70.06         1,310,000     11/22/06                 1,048,000           47        1,048,000           47
 70.07         1,090,000     11/22/06                   872,000           42          872,000           42
 70.08           740,000     11/21/06                   592,000           40          592,000           40
 70.09           710,000     11/22/06                   568,000           43          568,000           43
 70.10           650,000     11/22/06                   520,000           43          520,000           43
 70.11           540,000     11/22/06                   432,000           43          432,000           43
 70.12           490,000     11/22/06                   384,000           43          384,000           43
 70.13           385,000     11/22/06                   308,000           41          308,000           41
  71          20,600,000     02/22/07     68.0       14,000,000          833       14,000,000          833         0.4%         1
  72          17,000,000     01/30/07     79.4       13,500,000          139       13,500,000          139         0.4%         1
  73          17,000,000     03/12/07     78.5       13,350,000           51       13,350,000           51         0.4%         1
  74          16,600,000     02/19/07     79.8       13,280,000       42,977       13,280,000       42,977         0.4%         2
  75          17,900,000     04/04/07     73.7       13,200,000           96       13,200,000           96         0.4%         1
  76          19,175,000     03/27/07     68.4       13,140,000          137       13,124,921          137         0.4%         1
  77          19,100,000     04/01/07     68.1       13,000,000      194,030       13,000,000      194,030         0.4%         1
  78          19,200,000     10/01/07     67.7       13,000,000          531       13,000,000          531         0.4%         1
  79          17,500,000     07/01/07     74.2       13,000,000          129       12,988,089          129         0.4%         1
  80          15,875,000     02/25/07     80.0       12,700,000          293       12,700,000          293         0.4%         1
  81          15,700,000     01/18/07     79.6       12,500,000       11,905       12,500,000       11,905         0.4%         1
  82          16,900,000     03/19/07     74.0       12,500,000           99       12,500,000           99         0.4%         1
  83          15,000,000     09/01/07     80.0       12,000,000          154       12,000,000          154         0.4%         1
  84          17,250,000     02/09/07     69.6       12,000,000      173,913       12,000,000      173,913         0.4%         1
  85          15,200,000     01/29/07     78.4       11,920,000           74       11,920,000           74         0.4%         1
  86          14,630,000     02/19/07     79.0       11,704,000       52,018       11,704,000       52,018         0.4%         2
  87          14,700,000     01/31/07     79.5       11,680,000          108       11,680,000          108         0.4%         1
  88          15,400,000     02/08/07     74.8       11,550,000          137       11,518,703          136         0.4%         1
  89          15,700,000     04/05/07     73.2       11,500,000          142       11,500,000          142         0.3%         1
  90          14,870,000     01/10/07     78.8       11,500,000       36,859       11,500,000       36,859         0.3%         2
  91          14,400,000     12/01/06     79.9       11,500,000          356       11,500,000          356         0.3%         1
  92          14,400,000     09/08/09     79.2       11,400,000       41,912       11,400,000       41,912         0.3%         2
  93          13,900,000     01/30/07     79.1       11,000,000       60,440       11,000,000       60,440         0.3%         2
  94          14,050,000     03/21/07     74.7       10,500,000       74,468       10,500,000       74,468         0.3%         1
 94.01         7,000,000     03/21/07                 5,250,000       71,918        5,250,000       71,918
 94.02         7,050,000     03/21/07                 5,250,000       77,206        5,250,000       77,206
  95          13,200,000     10/30/06     77.7       10,250,000          141       10,250,000          141         0.3%         1
  96          13,000,000     02/20/07     78.7       10,230,000      113,667       10,230,000      113,667         0.3%         1
  97          14,300,000     01/23/07     70.6       10,100,000          267       10,091,562          267         0.3%         1
  98          12,500,000     03/09/07     80.0       10,000,000          137       10,000,000          137         0.3%         1
  99          14,250,000     12/12/06     70.0        9,975,000          166        9,975,000          166         0.3%         1
  100         12,375,000     01/15/07     80.0        9,900,000           33        9,900,000           33         0.3%         1
  101         13,900,000     02/22/07     70.5        9,800,000          123        9,800,000          123         0.3%         1
  102         15,900,000     12/09/06     61.3        9,750,000           40        9,750,000           40         0.3%         1
  103         12,100,000     12/08/06     79.8        9,680,000           69        9,660,994           68         0.3%         1
  104         12,100,000     01/28/07     79.3        9,600,000          129        9,600,000          129         0.3%         1
  105         13,400,000     01/02/08     71.1        9,525,000           64        9,525,000           64         0.3%         1
  106         12,350,000     12/01/07     76.9        9,500,000          130        9,500,000          130         0.3%         1
  107         14,750,000     03/20/07     63.1        9,300,000          262        9,300,000          262         0.3%         1
  108         12,890,000     01/26/07     72.1        9,300,000       68,382        9,300,000       68,382         0.3%         2
  109         12,330,000     12/17/06     73.8        9,100,000          255        9,100,000          255         0.3%         1
  110         25,200,000     09/07/07     35.7        9,000,000          126        9,000,000          126         0.3%         1
  111         12,100,000     01/23/07     74.2        9,000,000       98,901        8,982,017       98,703         0.3%         1
  112         11,700,000     02/01/07     76.1        8,900,000           22        8,900,000           22         0.3%         1
  113         11,050,000     02/28/07     79.6        8,800,000       30,769        8,800,000       30,769         0.3%         2
  114         10,810,000     02/23/07     79.8        8,648,000       26,366        8,648,000       26,366         0.3%         2
  115         11,500,000     03/01/07     75.1        8,640,000          145        8,640,000          145         0.3%         1
  116         10,900,000     02/26/07     78.9        8,600,000          144        8,600,000          144         0.3%         1
  117         12,760,000     02/20/07     67.3        8,592,000           61        8,592,000           61         0.3%         1
  118         10,500,000     03/15/07     80.0        8,400,000           46        8,400,000           46         0.3%         1
  119         11,000,000     02/05/07     75.9        8,350,000          100        8,350,000          100         0.3%         1
  120         12,100,000     03/01/07     68.6        8,300,000       51,553        8,300,000       51,553         0.3%         1
  121         10,400,000     03/15/07     79.8        8,300,000          231        8,300,000          231         0.3%         1
  122         10,500,000     03/01/08     78.1        8,200,000          101        8,200,000          101         0.2%         1
  123         10,200,000     03/13/07     79.8        8,135,000          203        8,135,000          203         0.2%         1
  124         10,150,000     02/19/07     79.4        8,120,000       41,856        8,120,000       41,856         0.2%         2
  125         10,200,000     02/22/07     79.4        8,120,000       32,874        8,120,000       32,874         0.2%         2
  126         10,000,000     02/19/07     79.0        8,000,000       41,451        8,000,000       41,451         0.2%         2
  127         11,500,000     01/01/08     69.3        8,000,000       55,944        7,969,422       55,730         0.2%         1
  128          9,750,000     01/10/07     78.8        7,800,000       36,792        7,800,000       36,792         0.2%         2
  129         10,350,000     03/01/07     74.8        7,750,000       71,759        7,743,368       71,698         0.2%         1
  130         10,400,000     02/02/08     73.1        7,600,000          122        7,600,000          122         0.2%         1
  131         10,190,000     02/07/07     74.6        7,600,000          161        7,600,000          161         0.2%         1
  132          9,800,000     10/24/06     76.5        7,500,000           22        7,500,000           22         0.2%         1
  133          9,900,000     03/21/07     75.8        7,500,000       37,500        7,500,000       37,500         0.2%         2
  134          9,600,000     02/11/07     77.4        7,426,000          174        7,426,000          174         0.2%         1
  135          9,575,000     02/19/07     79.0        7,300,000       33,796        7,300,000       33,796         0.2%         2
  136          8,960,000     02/15/07     80.0        7,168,000      108,606        7,168,000      108,606         0.2%         2
  137         13,500,000     02/16/07     51.9        7,000,000       77,778        7,000,000       77,778         0.2%         1
  138         15,300,000     03/07/07     45.8        7,000,000       25,547        7,000,000       25,547         0.2%         2
  139          9,600,000     12/12/05     72.9        7,000,000       58,333        6,994,821       58,290         0.2%         2
  140         10,900,000     03/01/07     64.2        7,000,000          173        6,993,780          173         0.2%         1
  141          8,650,000     10/20/06     79.9        6,920,000          117        6,913,833          117         0.2%         1
  142          8,610,000     12/28/06     79.6        6,880,000           74        6,853,094           74         0.2%         1
  143         11,000,000     11/16/06     60.4        6,640,000          566        6,640,000          566         0.2%         1
  144         10,900,000     01/26/07     60.6        6,600,000       63,462        6,600,000       63,462         0.2%         1
  145          8,500,000     02/19/07     79.4        6,560,000       39,048        6,560,000       39,048         0.2%         2
  146          9,500,000     01/23/07     68.4        6,500,000       17,105        6,500,000       17,105         0.2%         2
  147          9,250,000     03/29/07     70.2        6,500,000          137        6,494,193          137         0.2%         1
  148          8,400,000     02/01/07     77.2        6,500,000          159        6,482,006          158         0.2%         1
  149          8,000,000     01/10/07     78.8        6,400,000       38,095        6,400,000       38,095         0.2%         2
  150          9,200,000     12/19/06     69.6        6,400,000           68        6,400,000           68         0.2%         1
  151          8,000,000     03/02/07     80.0        6,400,000      110,345        6,400,000      110,345         0.2%         2
  152          7,930,000     06/01/07     80.0        6,344,000          307        6,344,000          307         0.2%         1
  153         10,650,000     01/02/07     59.2        6,300,000          100        6,300,000          100         0.2%         1
  154          7,930,000     02/22/07     79.0        6,230,000       43,873        6,230,000       43,873         0.2%         2
  155          8,900,000     Various      70.0        6,250,000           95        6,225,730           95         0.2%         1
155.01         5,400,000     01/16/07                 3,900,000           94        3,884,855           94
155.02         3,500,000     12/14/06                 2,350,000           98        2,340,874           97
  156          8,660,000     02/22/07     71.6        6,200,000          194        6,200,000          194         0.2%         1
  157          9,200,000     01/25/07     66.2        6,100,000       57,009        6,094,877       56,961         0.2%         1
  158          7,600,000     02/28/07     79.5        6,050,000        9,498        6,044,371        9,489         0.2%         1
  159          7,500,000     01/17/07     79.8        6,000,000          134        5,988,701          133         0.2%         1
159.01         5,110,000     01/17/07                 4,020,000          132        4,012,430          132
159.02         1,320,000     01/17/07                 1,110,000          139        1,107,910          138
159.03         1,070,000     01/17/07                   870,000          136          868,362          136
  160          7,550,000     10/22/06     78.1        5,900,000          197        5,900,000          197         0.2%         1
  161          7,350,000     02/28/07     79.9        5,880,000        8,596        5,874,529        8,588         0.2%         1
  162          7,730,000     12/06/06     75.0        5,800,000       90,625        5,800,000       90,625         0.2%         2
  163          7,100,000     02/19/07     79.8        5,680,000       43,030        5,680,000       43,030         0.2%         2
  164          7,100,000     03/13/07     79.5        5,650,000       70,625        5,645,091       70,564         0.2%         1
  165          7,400,000     03/15/07     75.7        5,600,000          112        5,600,000          112         0.2%         1
  166          7,400,000     03/23/07     75.7        5,600,000          201        5,600,000          201         0.2%         1
  167          7,000,000     09/08/06     79.9        5,600,000           98        5,593,009           98         0.2%         1
  168          7,000,000     01/30/07     79.8        5,592,000          104        5,587,121          104         0.2%         1
  169         11,600,000     10/01/06     48.0        5,600,000           37        5,567,286           37         0.2%         1
  170          9,300,000     02/01/07     59.1        5,500,000        6,936        5,500,000        6,936         0.2%         1
  171          8,700,000     03/06/07     63.1        5,500,000       58,511        5,492,325       58,429         0.2%         1
  172         10,400,000     12/05/06     53.2        5,500,000           27        5,477,464           27         0.2%         1
  173          7,000,000     10/12/06     77.9        5,450,000          124        5,450,000          124         0.2%         1
  174          8,550,000     01/29/07     63.2        5,400,000       67,500        5,400,000       67,500         0.2%         1
  175          7,100,000     12/20/06     76.1        5,400,000          158        5,400,000          158         0.2%         1
  176          6,850,000     01/17/07     78.7        5,400,000          223        5,389,824          222         0.2%         1
  177         13,200,000     01/10/07     40.8        5,400,000           66        5,384,211           66         0.2%         1
  178          7,500,000     02/13/07     71.7        5,380,000           83        5,380,000           83         0.2%         1
  179          6,700,000     02/22/07     80.0        5,360,000       22,149        5,360,000       22,149         0.2%         2
  180          6,600,000     02/20/07     79.8        5,280,000       28,852        5,280,000       28,852         0.2%         2
  181          7,400,000     10/11/06     71.3        5,275,000          232        5,275,000          232         0.2%         1
  182          7,100,000     03/11/07     73.9        5,250,000          189        5,250,000          189         0.2%         1
  183          6,525,000     02/29/07     79.7        5,200,000       43,333        5,200,000       43,333         0.2%         2
  184          6,650,000     01/21/07     78.2        5,200,000           99        5,200,000           99         0.2%         1
  185          6,600,000     02/09/07     77.3        5,100,000          172        5,100,000          172         0.2%         1
  186          6,450,000     08/01/07     78.7        5,075,000          112        5,075,000          112         0.2%         1
  187          6,800,000     01/22/07     73.5        5,000,000       30,303        5,000,000       30,303         0.2%         2
  188          6,150,000     03/20/07     79.7        4,900,000           55        4,900,000           55         0.1%         1
  189          6,960,000     09/01/07     70.2        4,892,000          116        4,887,913          116         0.1%         1
  190          6,000,000     12/04/06     79.7        4,800,000          160        4,783,282          159         0.1%         1
  191          6,960,000     11/09/06     67.5        4,700,000          191        4,700,000          191         0.1%         1
  192          6,125,000     12/01/06     76.7        4,700,000          312        4,700,000          312         0.1%         1
  193          5,840,000     03/07/07     80.0        4,672,000          121        4,672,000          121         0.1%         1
193.01         2,940,000     03/07/07                 2,422,000          192        2,422,000          192
193.02         2,900,000     03/07/07                 2,250,000           87        2,250,000           87
  194          5,930,000     02/21/07     79.8        4,650,000       24,734        4,650,000       24,734         0.1%         2
  195          6,000,000     02/22/07     76.7        4,600,000       21,698        4,600,000       21,698         0.1%         2
  196          6,110,000     03/14/07     74.5        4,550,000          123        4,550,000          123         0.1%         1
  197          6,100,000     03/01/07     73.8        4,500,000       38,136        4,500,000       38,136         0.1%         1
  198          6,100,000     03/01/07     73.8        4,500,000          106        4,500,000          106         0.1%         1
  199          6,400,000     01/22/07     70.3        4,500,000           78        4,500,000           78         0.1%         1
  200          6,800,000     03/11/07     66.2        4,500,000          108        4,500,000          108         0.1%         1
  201          6,250,000     03/14/07     71.9        4,500,000       60,811        4,493,975       60,729         0.1%         1
  202          5,600,000     03/06/07     78.6        4,400,000       26,190        4,400,000       26,190         0.1%         2
  203          5,940,000     02/28/07     73.4        4,360,000           85        4,360,000           85         0.1%         1
  204          5,720,000     02/01/07     75.0        4,300,000           45        4,291,776           45         0.1%         1
  205          5,325,000     10/20/06     79.8        4,250,000       42,500        4,250,000       42,500         0.1%         2
  206          5,990,000     Various      70.1        4,200,000       15,217        4,200,000       15,217         0.1%         2
206.01         3,630,000     01/23/07                 2,850,000       13,902        2,850,000       13,902
206.02         2,360,000     01/26/07                 1,350,000       19,014        1,350,000       19,014
  207          5,280,000     02/28/07     79.5        4,200,000       26,250        4,200,000       26,250         0.1%         2
  208          6,200,000     02/01/07     67.6        4,200,000          117        4,189,453          116         0.1%         1
  209          7,000,000     06/07/06     59.2        4,150,000          144        4,146,222          144         0.1%         1
  210          6,650,000     03/16/07     61.7        4,100,000       57,746        4,100,000       57,746         0.1%         2
  211          9,000,000     02/12/07     44.4        4,000,000          105        4,000,000          105         0.1%         1
  212         12,500,000     03/26/07     32.0        4,000,000           25        4,000,000           25         0.1%         1
  213          5,800,000     02/20/07     69.0        4,000,000           59        4,000,000           59         0.1%         1
  214          5,000,000     03/22/07     80.0        4,000,000          133        4,000,000          133         0.1%         1
  215          7,200,000     08/10/06     55.5        4,000,000           18        3,994,895           18         0.1%         1
  216          6,900,000     02/23/07     57.9        4,000,000          100        3,992,112          100         0.1%         1
  217          5,340,000     02/19/07     74.7        4,000,000           73        3,988,647           73         0.1%         1
  218          4,950,000     01/25/07     80.0        3,960,000       60,000        3,960,000       60,000         0.1%         2
  219          5,200,000     02/01/07     74.4        3,900,000           32        3,866,849           32         0.1%         1
  220          5,100,000     01/22/07     74.3        3,800,000          170        3,789,334          170         0.1%         1
  221          4,900,000     03/02/07     74.5        3,650,000       12,086        3,650,000       12,086         0.1%         1
  222          4,900,000     03/11/07     73.5        3,600,000          240        3,600,000          240         0.1%         1
  223          4,510,000     01/25/07     77.6        3,500,000       39,773        3,500,000       39,773         0.1%         2
  224          6,450,000     12/05/06     53.2        3,500,000           23        3,485,659           23         0.1%         1
  225          4,340,000     02/21/07     79.0        3,472,000        9,618        3,472,000        9,618         0.1%         2
  226          4,300,000     12/01/06     80.0        3,440,000       73,191        3,440,000       73,191         0.1%         2
  227          4,150,000     01/10/06     80.0        3,320,000           58        3,320,000           58         0.1%         1
  228          4,100,000     07/13/07     76.8        3,150,000          173        3,150,000          173         0.1%         1
  229          3,970,000     01/04/07     75.8        3,011,000      115,808        3,011,000      115,808         0.1%         2
  230          3,900,000     03/11/07     76.9        3,000,000           60        3,000,000           60         0.1%         1
  231          3,970,000     01/23/07     75.6        3,000,000       18,405        3,000,000       18,405         0.1%         2
  232          4,000,000     01/03/07     74.8        3,000,000       48,387        2,992,199       48,261         0.1%         1
  233          3,750,000     12/20/06     79.8        3,000,000          106        2,991,418          106         0.1%         1
  234          3,880,000     12/20/06     74.9        2,912,000       45,500        2,904,392       45,381         0.1%         2
  235          3,800,000     02/20/07     75.0        2,850,000          121        2,850,000          121         0.1%         1
  236          4,900,000     01/22/07     53.1        2,600,000       12,207        2,600,000       12,207         0.1%         2
  237          3,900,000     02/13/07     66.0        2,575,000          286        2,575,000          286         0.1%         1
  238          3,000,000     02/08/07     80.0        2,400,000       50,000        2,400,000       50,000         0.1%         2
  239          3,450,000     12/21/06     67.2        2,325,000           25        2,318,349           25         0.1%         1
  240          2,980,000     02/18/07     77.2        2,300,000          155        2,300,000          155         0.1%         1
  241          2,700,000     02/08/07     79.6        2,150,000          149        2,150,000          149         0.1%         1
  242          1,900,000     11/29/06     52.5        1,000,000           74          997,779           74         0.0%         1


         % OF     % OF                                                 NET
         LOAN     LOAN    CROSSED     RELATED    INTEREST   ADMIN.   MORTGAGE                  MONTHLY DEBT     ANNUAL DEBT
LOAN #  GROUP 1  GROUP 2  LOAN (7)  BORROWER(8)   RATE %    FEE %   RATE %(3)  ACCRUAL TYPE  SERVICE ($) (4)  SERVICE ($)(5)
------  -------  -------  --------  -----------  --------  -------  ---------  ------------  ---------------  --------------

   1       8.4%                                   5.49300  0.01063   5.48237    Actual/360     1,044,242.19    12,530,906.28
   2       4.1%                                   5.43550  0.02063   5.41487    Actual/360       505,174.36     6,062,092.32
   3       3.2%                                   5.79850  0.02063   5.77787    Actual/360       498,658.89     5,983,906.68
   4       2.4%                          2        5.84000  0.02063   5.81937    Actual/360       320,726.85     3,848,722.20
   5       2.2%                                   5.71400  0.02063   5.69337    Actual/360       289,668.06     3,476,016.72
 5.01
 5.02
 5.03
 5.04
 5.05
 5.06
 5.07
 5.08
 5.09
 5.10
 5.11
 5.12
 5.13
 5.14
 5.15
   6       1.9%                                   6.22000  0.05063   6.16937    Actual/360       316,090.20     3,793,082.40
   7       1.7%                                   5.67450  0.02063   5.65387    Actual/360       260,453.47     3,125,441.64
   8       1.6%                          3        5.87000  0.02063   5.84937    Actual/360       260,136.03     3,121,632.36
   9       1.5%                                   5.60250  0.04563   5.55687    Actual/360       228,546.18     2,742,554.16
  10       1.4%                                   5.74350  0.02063   5.72287    Actual/360       221,600.80     2,659,209.60
  11       1.4%                          3        5.82000  0.02063   5.79937    Actual/360       186,859.72     2,242,316.64
  12       1.4%                          2        5.86027  0.02063   5.83964    Actual/360       215,567.79     2,586,813.48
 12.01
 12.02
 12.03
 12.04
 12.05
 12.06
 12.07
 12.08
  13               6.1%                           5.74000  0.02063   5.71937    Actual/360       177,016.55     2,124,198.60
 13.01
 13.02
  14       1.3%                                   5.67000  0.02063   5.64937    Actual/360       170,067.19     2,040,806.28
  15       1.3%                          8        5.69550  0.02063   5.67487    Actual/360       170,504.81     2,046,057.72
  16       1.3%                                   5.39600  0.01063   5.38537    Actual/360       159,569.21     1,914,830.52
 16.01
 16.02
 16.03
 16.04
 16.05
 16.06
 16.07
 16.08
 16.09
 16.10
 16.11
 16.12
 16.13
 16.14
 16.15
 16.16
 16.17
 16.18
 16.19
 16.20
  17       1.3%                                   5.73440  0.02063   5.71377    Actual/360       169,576.30     2,034,915.60
  18               5.8%                           5.60400  0.02063   5.58337    Actual/360       242,821.05     2,913,852.60
  19       1.2%                          6        5.72000  0.02063   5.69937    Actual/360       186,133.91     2,233,606.92
 19.01
 19.02
 19.03
 19.04
 19.05
 19.06
 19.07
 19.08
 19.09
  20       1.2%                                   5.69500  0.05063   5.64437    Actual/360       150,126.53     1,801,518.36
  21       1.2%                                   5.77250  0.02063   5.75187    Actual/360       151,194.07     1,814,328.84
  22       1.1%                                   5.69000  0.02063   5.66937    Actual/360       176,828.90     2,121,946.80
  23       1.1%                                   5.88000  0.02063   5.85937    Actual/360       175,189.78     2,102,277.36
  24               4.9%                  5        5.59000  0.02063   5.56937    Actual/360       167,446.98     2,009,363.76
 24.01
 24.02
 24.03
  25       1.0%                                   5.66000  0.02063   5.63937    Actual/360       129,118.75     1,549,425.00
  26       1.0%                          10       5.91000  0.02063   5.88937    Actual/360       160,319.67     1,923,836.04
  27       1.0%                                   5.76000  0.02063   5.73937    Actual/360       170,021.93     2,040,263.16
  28       1.0%                                   5.81000  0.02063   5.78937    Actual/360       131,067.95     1,572,815.40
  29       1.0%                                   5.85000  0.05063   5.79937    Actual/360       156,334.35     1,876,012.20
  30               4.4%                  7        5.61500  0.02063   5.59437    Actual/360       125,625.23     1,507,502.76
  31       1.0%                                   6.08000  0.02063   6.05937    Actual/360       187,474.03     2,249,688.36
  32       0.9%                                   6.42000  0.02063   6.39937    Actual/360       155,450.37     1,865,404.44
  33               4.1%                           6.21000  0.02063   6.18937    Actual/360       151,440.15     1,817,281.80
  34       0.9%                                   5.74000  0.02063   5.71937    Actual/360       142,819.75     1,713,837.00
  35       0.8%                                   5.78000  0.02063   5.75937    Actual/360       128,805.61     1,545,667.32
  36       0.8%                                   6.46000  0.02063   6.43937    Actual/360       135,329.54     1,623,954.48
  37               3.6%                  7        5.61500  0.02063   5.59437    Actual/360       101,287.71     1,215,452.52
  38       0.8%                                   5.96350  0.11063   5.85287    Actual/360       127,204.85     1,526,458.20
  39       0.8%                                   5.97600  0.02063   5.95537    Actual/360       125,581.76     1,506,981.12
  40       0.8%                                   5.62150  0.02063   5.60087    Actual/360       99,742.59      1,196,911.08
  41       0.8%                                   6.05000  0.02063   6.02937    Actual/360       126,581.47     1,518,977.64
  42       0.7%                          9        5.52000  0.02063   5.49937    Actual/360       120,595.36     1,447,144.32
  43       0.7%                                   6.77000  0.02063   6.74937    Actual/360       124,786.19     1,497,434.28
  44               3.2%                  5        5.59000  0.02063   5.56937    Actual/360       109,528.68     1,314,344.16
 44.01
 44.02
  45       0.7%                          9        5.52000  0.02063   5.49937    Actual/360       117,518.95     1,410,227.40
  46       0.7%                                   5.89000  0.02063   5.86937    Actual/360       111,093.15     1,333,117.80
  47       0.7%                                   5.66750  0.02063   5.64687    Actual/360       106,993.37     1,283,920.44
 47.01
 47.02
 47.03
  48               3.0%                           5.84000  0.02063   5.81937    Actual/360       106,074.49     1,272,893.88
  49       0.7%                                   6.14200  0.02063   6.12137    Actual/360       107,133.02     1,285,596.24
  50               2.9%                           5.61000  0.02063   5.58937    Actual/360        82,474.79       989,697.48
  51       0.6%                                   5.79200  0.09063   5.70137    Actual/360        81,969.54       983,634.48
  52       0.6%                                   5.79950  0.02063   5.77887    Actual/360        81,095.67       973,148.04
  53       0.6%                          4        5.67000  0.02063   5.64937    Actual/360        95,452.62     1,145,431.44
  54       0.6%                                   5.61000  0.02063   5.58937    Actual/360        78,208.85       938,506.20
  55               2.7%                           5.64000  0.02063   5.61937    Actual/360        76,244.44       914,933.28
  56       0.6%                          4        5.70000  0.02063   5.67937    Actual/360        77,055.56       924,666.72
  57       0.6%                          6        5.92000  0.02063   5.89937    Actual/360        95,106.70     1,141,280.40
  58       0.6%                          4        5.96000  0.02063   5.93937    Actual/360        95,517.00     1,146,204.00
  59       0.6%                                   5.66300  0.02063   5.64237    Actual/360        91,333.14     1,095,997.68
 59.01
 59.02
  60               2.6%       A          1        5.79120  0.02063   5.77057    Actual/360        74,374.02       892,488.24
  61               2.6%                           5.57700  0.02063   5.55637    Actual/360        71,623.14       859,477.68
  62       0.6%                                   5.68400  0.02063   5.66337    Actual/360        86,908.03     1,042,896.36
  63               2.5%                           5.77400  0.06063   5.71337    Actual/360        73,177.43       878,129.16
  64               2.5%                  15       5.95500  0.02063   5.93437      30/360          89,499.07     1,073,988.84
  65               2.5%                           5.70000  0.02063   5.67937    Actual/360        72,239.58       866,874.96
  66       0.6%                                   5.54000  0.02063   5.51937    Actual/360        85,545.18     1,026,542.16
  67       0.5%                                   5.69150  0.02063   5.67087    Actual/360        85,239.70     1,022,876.40
  68       0.5%                                   5.90000  0.02063   5.87937    Actual/360        85,411.66     1,024,939.92
  69       0.5%                                   5.89000  0.02063   5.86937    Actual/360        84,134.54     1,009,614.48
  70       0.5%                                   5.61600  0.02063   5.59537    Actual/360        67,246.14       806,953.68
 70.01
 70.02
 70.03
 70.04
 70.05
 70.06
 70.07
 70.08
 70.09
 70.10
 70.11
 70.12
 70.13
  71       0.5%                                   5.62000  0.02063   5.59937    Actual/360        80,547.71       966,572.52
  72       0.5%                                   5.65800  0.02063   5.63737    Actual/360        64,536.56       774,438.72
  73       0.5%                                   5.70000  0.02063   5.67937    Actual/360        64,293.23       771,518.76
  74               2.2%       B          1        5.79120  0.02063   5.77057    Actual/360        64,979.41       779,752.92
  75       0.5%                                   5.73000  0.04063   5.68937    Actual/360        63,905.42       766,865.04
  76       0.5%                                   6.53100  0.02063   6.51037    Actual/360        88,976.92     1,067,723.04
  77       0.5%                                   6.25000  0.02063   6.22937    Actual/360        68,648.73       823,784.76
  78       0.5%                                   5.77000  0.02063   5.74937    Actual/360        76,029.72       912,356.64
  79       0.5%                          13       5.61000  0.02063   5.58937    Actual/360        74,712.26       896,547.12
  80       0.5%                          12       5.51000  0.02063   5.48937    Actual/360        59,124.09       709,489.08
  81       0.5%                                   5.68150  0.02063   5.66087    Actual/360        72,403.58       868,842.96
  82       0.5%                                   5.72650  0.07063   5.65587    Actual/360        72,760.11       873,121.32
  83       0.4%                          12       5.98000  0.02063   5.95937    Actual/360        71,791.84       861,502.08
  84       0.4%                                   5.63000  0.02063   5.60937    Actual/360        69,116.65       829,399.80
  85       0.4%                                   5.78000  0.02063   5.75937    Actual/360        69,789.22       837,470.64
  86               2.0%       C          1        5.79120  0.02063   5.77057    Actual/360        57,268.00       687,216.00
  87       0.4%                                   5.72000  0.02063   5.69937    Actual/360        67,938.88       815,266.56
  88       0.4%                                   5.93200  0.07063   5.86137    Actual/360        68,743.95       824,927.40
  89       0.4%                                   5.89700  0.02063   5.87637    Actual/360        68,188.62       818,263.44
  90               1.9%       D          11       5.85000  0.02063   5.82937    Actual/360        67,843.21       814,118.52
  91       0.4%                                   5.56000  0.02063   5.53937    Actual/360        65,729.31       788,751.72
  92               1.9%                           5.78000  0.02063   5.75937    Actual/360        55,672.64       668,071.68
  93               1.8%                           5.84350  0.02063   5.82287    Actual/360        64,847.87       778,174.44
  94       0.4%                                   5.87000  0.09063   5.77937    Actual/360        66,819.71       801,836.52
 94.01
 94.02
  95       0.4%                                   5.91600  0.02063   5.89537    Actual/360        60,901.47       730,817.64
  96       0.4%                                   5.74160  0.02063   5.72097    Actual/360        59,644.93       715,739.16
  97       0.4%                                   5.97000  0.02063   5.94937    Actual/360        60,359.94       724,319.28
  98       0.4%                                   5.70000  0.02063   5.67937    Actual/360        58,040.04       696,480.48
  99       0.4%                                   5.72150  0.07063   5.65087    Actual/360        58,030.92       696,371.04
  100      0.4%                                   5.65000  0.02063   5.62937    Actual/360        47,259.90       567,118.80
  101      0.4%                                   5.73000  0.06063   5.66937    Actual/360        57,065.69       684,788.28
  102      0.4%                                   5.96000  0.02063   5.93937    Actual/360        58,205.67       698,468.04
  103      0.4%                                   5.68000  0.02063   5.65937    Actual/360        56,060.14       672,721.68
  104      0.4%                                   5.82000  0.02063   5.79937    Actual/360        56,450.62       677,407.44
  105      0.4%                                   5.97000  0.02063   5.94937    Actual/360        56,923.60       683,083.20
  106      0.4%                                   5.70000  0.02063   5.67937    Actual/360        55,138.04       661,656.48
  107      0.3%                                   5.53000  0.02063   5.50937    Actual/360        52,979.56       635,754.72
  108              1.6%                           5.80000  0.02063   5.77937    Actual/360        54,568.03       654,816.36
  109      0.3%                                   5.62700  0.06063   5.56637    Actual/360        52,396.22       628,754.64
  110      0.3%                                   5.75000  0.02063   5.72937    Actual/360        52,521.56       630,258.72
  111      0.3%                                   5.59950  0.02063   5.57887    Actual/360        51,664.27       619,971.24
  112      0.3%                                   5.72000  0.02063   5.69937    Actual/360        51,768.49       621,221.88
  113              1.5%                  18       5.73000  0.02063   5.70937    Actual/360        51,242.66       614,911.92
  114              1.5%       B          1        5.79120  0.02063   5.77057    Actual/360        42,314.90       507,778.80
  115      0.3%                                   5.76000  0.02063   5.73937    Actual/360        50,475.59       605,707.08
  116      0.3%                                   5.67000  0.02063   5.64937    Actual/360        49,751.06       597,012.72
  117      0.3%                          8        5.87400  0.02063   5.85337    Actual/360        42,641.98       511,703.76
  118      0.3%                                   5.71000  0.02063   5.68937    Actual/360        48,806.88       585,682.56
  119      0.3%                                   5.70150  0.02063   5.68087    Actual/360        48,471.37       581,656.44
  120      0.3%                          19       5.76700  0.05063   5.71637    Actual/360        48,526.22       582,314.64
  121      0.3%                                   5.67000  0.02063   5.64937    Actual/360        48,015.56       576,186.72
  122      0.3%                                   5.78000  0.02063   5.75937    Actual/360        48,009.36       576,112.32
  123      0.3%                                   5.96900  0.06063   5.90837    Actual/360        48,611.42       583,337.04
  124              1.4%       A          1        5.79120  0.02063   5.77057    Actual/360        39,731.39       476,776.68
  125              1.4%       A          1        5.79120  0.02063   5.77057    Actual/360        39,731.39       476,776.68
  126              1.3%       C          1        5.79120  0.02063   5.77057    Actual/360        39,144.22       469,730.64
  127      0.3%                                   6.26000  0.06063   6.19937    Actual/360        49,309.42       591,713.04
  128              1.3%       D          11       5.85000  0.02063   5.82937    Actual/360        46,015.39       552,184.68
  129      0.3%                                   5.87750  0.02063   5.85687    Actual/360        45,856.56       550,278.72
  130      0.3%                                   5.86050  0.02063   5.83987    Actual/360        44,886.46       538,637.52
  131      0.3%                                   6.15000  0.02063   6.12937    Actual/360        46,301.34       555,616.08
  132      0.3%                                   5.62000  0.02063   5.59937    Actual/360        43,150.56       517,806.72
  133              1.3%                           6.18000  0.02063   6.15937    Actual/360        45,837.88       550,054.56
  134      0.3%                                   5.89000  0.02063   5.86937    Actual/360        36,955.52       443,466.24
  135              1.2%       C          1        5.79120  0.02063   5.77057    Actual/360        35,719.10       428,629.20
  136              1.2%                           5.60200  0.02063   5.58137    Actual/360        41,159.02       493,908.24
  137      0.3%                                   5.45800  0.07063   5.38737    Actual/360        32,280.53       387,366.36
  138              1.2%                           5.92000  0.02063   5.89937    Actual/360        41,609.18       499,310.16
  139              1.2%                           6.42000  0.02063   6.39937    Actual/360        43,877.12       526,525.44
  140      0.3%                                   5.73100  0.02063   5.71037    Actual/360        40,765.65       489,187.80
  141      0.3%                                   5.72000  0.02063   5.69937    Actual/360        40,251.46       483,017.52
  142      0.3%                                   6.14000  0.02063   6.11937    Actual/360        41,870.37       502,444.44
  143      0.2%                                   5.82000  0.02063   5.79937    Actual/360        39,045.01       468,540.12
  144      0.2%                          20       5.75800  0.02063   5.73737    Actual/360        32,108.85       385,306.20
  145              1.1%       A          1        5.82120  0.02063   5.80057    Actual/360        32,264.54       387,174.48
  146              1.1%                  14       5.62900  0.02063   5.60837    Actual/360        30,913.89       370,966.68
  147      0.2%                                   5.71000  0.02063   5.68937    Actual/360        37,767.23       453,206.76
  148      0.2%                                   5.84000  0.02063   5.81937    Actual/360        38,304.68       459,656.16
  149              1.1%       D          11       5.85000  0.02063   5.82937    Actual/360        37,756.22       453,074.64
  150      0.2%                                   5.80000  0.11063   5.68937    Actual/360        37,552.19       450,626.28
  151              1.1%                           5.84000  0.02063   5.81937    Actual/360        31,579.26       378,951.12
  152      0.2%                                   5.66000  0.02063   5.63937    Actual/360        36,659.95       439,919.40
  153      0.2%                                   5.86000  0.02063   5.83937    Actual/360        37,206.50       446,478.00
  154              1.0%       C          1        5.79120  0.02063   5.77057    Actual/360        30,483.56       365,802.72
  155      0.2%                                   6.55000  0.02063   6.52937    Actual/360        46,782.48       561,389.76
155.01
155.02
  156      0.2%                                   5.91000  0.02063   5.88937    Actual/360        36,814.15       441,769.80
  157      0.2%                                   5.95000  0.04063   5.90937    Actual/360        36,376.72       436,520.64
  158      0.2%                          16       5.54900  0.02063   5.52837    Actual/360        34,537.46       414,449.52
  159      0.2%                                   5.87000  0.02063   5.84937    Actual/360        35,473.09       425,677.08
159.01
159.02
159.03
  160      0.2%                                   5.90000  0.11063   5.78937    Actual/360        34,995.05       419,940.60
  161      0.2%                          16       5.54900  0.02063   5.52837    Actual/360        33,566.99       402,803.88
  162              1.0%                           5.62600  0.06063   5.56537    Actual/360        33,391.73       400,700.76
  163              1.0%       B          1        5.79120  0.02063   5.77057    Actual/360        27,792.40       333,508.80
  164      0.2%                                   5.81930  0.09063   5.72867    Actual/360        33,221.02       398,652.24
  165      0.2%                                   6.09000  0.02063   6.06937    Actual/360        33,899.54       406,794.48
  166      0.2%                                   5.86000  0.07063   5.78937    Actual/360        33,072.45       396,869.40
  167      0.2%                          21       7.60000  0.07063   7.52937    Actual/360        39,540.19       474,482.28
  168      0.2%                          22       5.80250  0.07063   5.73187    Actual/360        32,820.13       393,841.56
  169      0.2%                                   5.89250  0.02063   5.87187    Actual/360        33,188.77       398,265.24
  170      0.2%                                   5.78450  0.02063   5.76387    Actual/360        34,715.61       416,587.32
  171      0.2%                                   5.53550  0.02063   5.51487    Actual/360        33,891.51       406,698.12
  172      0.2%               E          24       5.89400  0.02063   5.87337    Actual/360        32,601.39       391,216.68
  173      0.2%                                   5.87000  0.02063   5.84937    Actual/360        32,221.39       386,656.68
  174      0.2%                          20       5.77150  0.02063   5.75087    Actual/360        31,586.73       379,040.76
  175      0.2%                                   5.92000  0.02063   5.89937    Actual/360        32,098.51       385,182.12
  176      0.2%                                   5.86700  0.02063   5.84637    Actual/360        31,915.43       382,985.16
  177      0.2%                                   5.60200  0.02063   5.58137    Actual/360        31,007.08       372,084.96
  178      0.2%                          23       6.06000  0.02063   6.03937    Actual/360        32,463.64       389,563.68
  179              0.9%                  1        5.78120  0.02063   5.76057    Actual/360        26,181.34       314,176.08
  180              0.9%       B          1        5.79120  0.02063   5.77057    Actual/360        25,835.19       310,022.28
  181      0.2%                                   5.94000  0.02063   5.91937    Actual/360        31,423.09       377,077.08
  182      0.2%                          17       5.80000  0.02063   5.77937    Actual/360        25,727.43       308,729.16
  183              0.9%                           5.62500  0.07063   5.55437    Actual/360        29,934.13       359,209.56
  184      0.2%                                   5.76000  0.06063   5.69937    Actual/360        30,378.83       364,545.96
  185      0.2%                                   5.74000  0.02063   5.71937    Actual/360        29,729.83       356,757.96
  186      0.2%                          13       5.63000  0.02063   5.60937    Actual/360        29,230.59       350,767.08
  187              0.8%                  14       5.64900  0.02063   5.62837    Actual/360        23,864.41       286,372.92
  188      0.2%                          16       5.67400  0.02063   5.65337    Actual/360        28,358.94       340,307.28
  189      0.2%                          21       5.97000  0.02063   5.94937    Actual/360        29,235.72       350,828.64
  190      0.2%                                   6.04200  0.02063   6.02137    Actual/360        32,906.82       394,881.84
  191      0.2%                                   5.69000  0.07063   5.61937    Actual/360        27,249.04       326,988.48
  192      0.2%                          10       5.81000  0.02063   5.78937    Actual/360        27,607.33       331,287.96
  193      0.2%                                   5.94000  0.02063   5.91937    Actual/360        27,831.03       333,972.36
193.01
193.02
  194              0.8%       B          1        5.79120  0.02063   5.77057    Actual/360        22,752.58       273,030.96
  195              0.8%                           5.74500  0.02063   5.72437    Actual/360        26,829.74       321,956.88
  196      0.2%                                   5.66000  0.02063   5.63937    Actual/360        26,293.00       315,516.00
  197      0.2%                          19       5.73550  0.05063   5.68487    Actual/360        26,219.34       314,632.08
  198      0.2%                                   5.70800  0.02063   5.68737    Actual/360        21,702.29       260,427.48
  199      0.2%                                   5.66000  0.02063   5.63937    Actual/360        26,004.06       312,048.72
  200      0.2%                          17       5.81000  0.02063   5.78937    Actual/360        22,090.10       265,081.20
  201      0.2%                                   5.75300  0.09063   5.66237    Actual/360        28,317.95       339,815.40
  202              0.7%                           5.82600  0.02063   5.80537    Actual/360        25,890.03       310,680.36
  203      0.2%                          23       6.02000  0.02063   5.99937    Actual/360        26,196.49       314,357.88
  204      0.2%                                   5.80000  0.02063   5.77937    Actual/360        25,230.38       302,764.56
  205              0.7%                           5.60400  0.02063   5.58337    Actual/360        24,409.08       292,908.96
  206              0.7%                  14       5.62900  0.02063   5.60837    Actual/360        19,975.13       239,701.56
206.01
206.02
  207              0.7%                  18       5.73000  0.02063   5.70937    Actual/360        24,456.72       293,480.64
  208      0.2%                          22       6.47000  0.02063   6.44937    Actual/360        28,280.02       339,360.24
  209      0.2%                                   5.63600  0.02063   5.61537    Actual/360        23,918.57       287,022.84
  210              0.7%                  15       5.79150  0.02063   5.77087      30/360          24,034.69       288,416.28
  211      0.1%                                   5.80100  0.02063   5.78037    Actual/360        23,472.67       281,672.04
  212      0.1%                                   5.64100  0.02063   5.62037    Actual/360        23,066.68       276,800.16
  213      0.1%                                   6.13000  0.02063   6.10937    Actual/360        24,317.36       291,808.32
  214      0.1%                                   5.88000  0.02063   5.85937    Actual/360        23,674.29       284,091.48
  215      0.1%                                   6.00000  0.02063   5.97937    Actual/360        25,772.06       309,264.72
  216      0.1%                                   5.66000  0.02063   5.63937    Actual/360        23,114.72       277,376.64
  217      0.1%                                   5.76700  0.02063   5.74637    Actual/360        25,205.36       302,464.32
  218              0.7%                           6.24000  0.02063   6.21937    Actual/360        24,356.65       292,279.80
  219      0.1%                          13       5.95000  0.02063   5.92937    Actual/360        25,008.69       300,104.28
  220      0.1%                                   5.78050  0.02063   5.75987    Actual/360        22,249.45       266,993.40
  221      0.1%                                   5.87000  0.02063   5.84937    Actual/360        21,579.47       258,953.64
  222      0.1%                          17       5.80000  0.02063   5.77937    Actual/360        17,641.67       211,700.04
  223              0.6%                           5.92200  0.02063   5.90137    Actual/360        20,809.07       249,708.84
  224      0.1%               E          24       5.89400  0.02063   5.87337    Actual/360        20,746.34       248,956.08
  225              0.6%       C          1        5.79120  0.02063   5.77057    Actual/360        16,988.59       203,863.08
  226              0.6%                           5.56700  0.02063   5.54637    Actual/360        19,676.79       236,121.48
  227      0.1%                                   5.83360  0.08063   5.75297    Actual/360        19,551.30       234,615.60
  228      0.1%                                   5.85000  0.11063   5.73937    Actual/360        18,583.14       222,997.68
  229              0.5%                           5.88000  0.02063   5.85937    Actual/360        17,820.83       213,849.96
  230      0.1%                          17       5.76000  0.02063   5.73937    Actual/360        14,600.00       175,200.00
  231              0.5%                  14       5.63900  0.02063   5.61837    Actual/360        14,293.30       171,519.60
  232      0.1%                                   6.10650  0.07063   6.03587    Actual/360        18,192.44       218,309.28
  233      0.1%                          25       5.69800  0.02063   5.67737    Actual/360        17,408.21       208,898.52
  234              0.5%                           6.08650  0.02063   6.06587    Actual/360        17,621.18       211,454.16
  235      0.1%                                   5.69000  0.02063   5.66937    Actual/360        16,523.36       198,280.32
  236              0.4%                  14       5.62900  0.02063   5.60837    Actual/360        12,365.56       148,386.72
  237      0.1%                                   5.79300  0.02063   5.77237    Actual/360        15,097.41       181,168.92
  238              0.4%                           5.81000  0.02063   5.78937    Actual/360        14,097.36       169,168.32
  239      0.1%                          25       5.69800  0.02063   5.67737    Actual/360        13,491.36       161,896.32
  240      0.1%                                   5.76000  0.02063   5.73937    Actual/360        13,436.79       161,241.48
  241      0.1%                                   5.92950  0.11063   5.81887    Actual/360        12,793.05       153,516.60
  242      0.0%                                   6.75000  0.02063   6.72937    Actual/360         6,485.98        77,831.76


                         FIRST                                                            PAYMENT   GRACE
LOAN #  NOTE DATE  PAYMENT DATE (13)  REM. TERM  REM. AMORT   I/O PERIOD (6)  SEASONING  DUE DATE  PERIOD  MATURITY DATE  ARD LOAN
------  ---------  -----------------  ---------  -----------  --------------  ---------  --------  ------  -------------  --------

   1     02/12/07       04/01/07         117          0             120           3          1        5       03/01/17       No
   2     03/30/07       05/01/07         118          0             120           2          1        0       04/01/17       No
   3     03/29/07       05/01/07         118         360             60           2          1        7       04/01/17       No
   4     03/30/07       05/01/07          82          0              84           2          1        7       04/01/14       No
   5     03/30/07       05/01/07         118          0             120           2          1        5       04/01/17       No
 5.01
 5.02
 5.03
 5.04
 5.05
 5.06
 5.07
 5.08
 5.09
 5.10
 5.11
 5.12
 5.13
 5.14
 5.15
   6     05/17/07       07/01/07          60         360              0           0          1        7       06/01/12       No
   7     03/30/07       05/01/07         118         360             24           2          1        5       04/01/17       No
   8     02/27/07       04/01/07         117         357              0           3          1        7       03/01/17       No
   9     05/04/07       07/01/07         120         360             60           0          1        5       06/01/17       No
  10     04/19/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  11     04/26/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  12     03/30/07       05/01/07         118         360             60           2          1        7       04/01/17       No
 12.01
 12.02
 12.03
 12.04
 12.05
 12.06
 12.07
 12.08
  13     04/27/07       06/01/07         119          0             120           1          1        7       05/01/17       No
 13.01
 13.02
  14     02/22/07       04/01/07         117          0             120           3          1        7       03/01/17       No
  15     04/05/07       06/01/07         119          0             120           1          1        8       05/01/17       No
  16     12/08/06       02/01/07         104          0             109           5          1        5       02/01/16       No
 16.01
 16.02
 16.03
 16.04
 16.05
 16.06
 16.07
 16.08
 16.09
 16.10
 16.11
 16.12
 16.13
 16.14
 16.15
 16.16
 16.17
 16.18
 16.19
 16.20
  17     03/30/07       05/01/07         118          0             120           2          1        5       04/01/17       No
  18     03/29/07       05/01/07         118         238              0           2          1        7       04/01/17       No
  19     03/05/07       05/01/07         118         360             60           2          1        7       04/01/17       No
 19.01
 19.02
 19.03
 19.04
 19.05
 19.06
 19.07
 19.08
 19.09
  20     05/18/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  21     05/02/07       07/01/07         120          0             120           0          1       10       06/01/17       No
  22     04/02/07       06/01/07         119         360             60           1          1        5       05/01/17       No
  23     02/28/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  24     02/02/07       04/01/07         117         360             36           3          1        5       03/01/17       No
 24.01
 24.02
 24.03
  25     04/26/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  26     03/30/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  27     04/27/07       06/01/07          59         299              0           1          1        7       05/01/12       No
  28     05/07/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  29     04/27/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  30     04/25/07       06/01/07         119          0             120           1          1        5       05/01/17       No
  31     03/14/07       05/01/07         238         238              0           2          1        7       04/01/27       No
  32     04/27/07       06/01/07         119         360             21           1          1        7       05/01/17       No
  33     05/23/07       07/01/07         120         360             60           0          1        7       06/01/17       No
  34     03/07/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  35     04/26/07       06/01/07         119         360             36           1          1        7       05/01/17       No
  36     05/18/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  37     04/25/07       06/01/07         119          0             120           1          1        5       05/01/17       No
  38     02/14/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  39     10/23/06       12/01/06         113         360             12           7          1        7       11/01/16       No
  40     05/01/07       06/01/07         119          0             120           1          1       10       05/01/17       No
  41     05/17/07       07/01/07         120         360             36           0          1        7       06/01/17       No
  42     04/30/07       06/01/07         119         299              0           1          1        7       05/01/17       No
  43     04/16/07       06/01/07          59         359              0           1          1        7       05/01/12       No
  44     02/02/07       04/01/07         117         360             36           3          1        5       03/01/17       No
 44.01
 44.02
  45     04/30/07       06/01/07         119         299              0           1          1        7       05/01/17       No
  46     06/01/07       07/01/07         120         360             48           0          1        7       06/01/17       No
  47     04/19/07       06/01/07         119         359              0           1          1        7       05/01/17       No
 47.01
 47.02
 47.03
  48     02/16/07       04/01/07         117         360             36           3          1        7       03/01/17       No
  49     03/14/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  50     04/18/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  51     04/20/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  52     04/17/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  53     05/01/07       06/01/07         119         360             72           1          1        5       05/01/17       No
  54     03/29/07       05/01/07          58          0              60           2          1        7       04/01/12       No
  55     04/19/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  56     05/15/07       07/01/07         120          0             120           0          1        5       06/01/17       No
  57     02/06/07       04/01/07         117         360             36           3          1        7       03/01/17       No
  58     02/12/07       04/01/07         117         360             36           3          1        5       03/01/17       No
  59     12/20/06       02/01/07         115         360             36           5          1        5       01/01/17       No
 59.01
 59.02
  60     03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  61     03/22/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  62     04/19/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  63     03/30/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  64     03/06/07       05/01/07         118         360             60           2          1       10       04/01/17       No
  65     04/09/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  66     04/17/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  67     05/01/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  68     04/09/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  69     02/01/07       03/01/07         116         360             24           4          1        7       02/01/17       No
  70     03/02/07       05/01/07         118          0             120           2          1        0       04/01/17       No
 70.01
 70.02
 70.03
 70.04
 70.05
 70.06
 70.07
 70.08
 70.09
 70.10
 70.11
 70.12
 70.13
  71     03/16/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  72     02/27/07       04/01/07         117          0             120           3          1        7       03/01/17       No
  73     03/30/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  74     03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  75     05/02/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  76     05/01/07       06/01/07         119         299              0           1          1        7       05/01/17       No
  77     05/07/07       07/01/07          60          0              60           0          1        7       06/01/12       No
  78     04/11/07       06/01/07         119         360             24           1          1        7       05/01/17       No
  79     04/12/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  80     04/25/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  81     03/29/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  82     05/01/07       06/01/07         119         360             24           1          1        5       05/01/17       No
  83     02/13/07       04/01/07         117         360             36           3          1        7       03/01/17       No
  84     05/01/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  85     03/15/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  86     03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  87     04/11/07       06/01/07         119         360             36           1          1        7       05/01/17       No
  88     02/26/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  89     05/04/07       07/01/07         120         360             60           0          1        5       06/01/17       No
  90     02/27/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  91     02/28/07       04/01/07         117         360             24           3          1        7       03/01/17       No
  92     04/30/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  93     02/13/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  94     05/11/07       07/01/07         120         300              0           0          1        7       06/01/17       No
 94.01
 94.02
  95     05/04/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  96     03/28/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  97     05/01/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  98     03/26/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  99     01/30/07       03/01/07         116         360             60           4          1        7       02/01/17       No
  100    03/16/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  101    05/03/07       07/01/07         120         360             60           0          1        7       06/01/17       No
  102    01/09/07       03/01/07          56         360             24           4          1        7       02/01/12       No
  103    03/21/07       05/01/07         118         358              0           2          1        7       04/01/17       No
  104    05/14/07       07/01/07         120         360             36           0          1        7       06/01/17       No
  105    02/28/07       04/01/07          57         360             24           3          1        7       03/01/12       No
  106    03/19/07       05/01/07         118         360             24           2          1        7       04/01/17       No
  107    05/03/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  108    05/16/07       07/01/07         120         360             24           0          1        7       06/01/17       No
  109    03/02/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  110    03/29/07       05/01/07         118         360             24           2          1        7       04/01/17       No
  111    03/07/07       05/01/07         118         358              0           2          1       10       04/01/17       No
  112    05/16/07       07/01/07         120         360             36           0          1       15       06/01/17       No
  113    03/30/07       05/01/07         118         360             24           2          1        7       04/01/17       No
  114    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  115    04/25/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  116    05/18/07       07/01/07         120         360             60           0          1        7       06/01/17       No
  117    03/19/07       05/01/07         118          0             120           2          1        8       04/01/17       No
  118    05/01/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  119    03/16/07       05/01/07         118         360             24           2          1        7       04/01/17       No
  120    05/18/07       07/01/07         120         360             36           0          1        7       06/01/17       No
  121    03/13/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  122    04/30/07       06/01/07         119         360             36           1          1        7       05/01/17       No
  123    04/12/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  124    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  125    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  126    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  127    01/31/07       03/01/07         116         356              0           4          1        7       02/01/17       No
  128    02/27/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  129    04/30/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  130    03/21/07       05/01/07         118         360             12           2          1        7       04/01/17       No
  131    05/04/07       07/01/07          60         360             36           0          1        7       06/01/12       No
  132    01/18/07       03/01/07         116         360             24           4          1        7       02/01/17       No
  133    05/15/07       07/01/07          60         360             36           0          1        7       06/01/12       No
  134    04/02/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  135    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  136    04/30/07       06/01/07         119         360             36           1          1        7       05/01/17       No
  137    04/02/07       06/01/07         119          0             120           1          1        7       05/01/17       No
  138    04/26/07       06/01/07         119         360             24           1          1        7       05/01/17       No
  139    05/01/07       06/01/07         114         359              0           1          1        5       12/01/16       No
  140    04/16/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  141    04/05/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  142    01/26/07       03/01/07         116         356              0           4          1        7       02/01/17       No
  143    12/15/06       02/01/07         115         360             60           5          1        7       01/01/17       No
  144    03/01/07       04/01/07         117          0             120           3          1        7       03/01/17       No
  145    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  146    03/28/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  147    04/20/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  148    02/26/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  149    02/27/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  150    03/20/07       05/01/07         118         360             24           2          1        7       04/01/17       No
  151    03/14/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  152    03/08/07       05/01/07         118         360             12           2          1        7       04/01/17       No
  153    05/16/07       07/01/07         120         360             60           0          1        7       06/01/17       No
  154    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  155    03/15/07       05/01/07         118         238              0           2          1        7       04/01/17       No
155.01
155.02
  156    03/30/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  157    04/03/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  158    04/23/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  159    03/07/07       05/01/07         118         358              0           2          1        7       04/01/17       No
159.01
159.02
159.03
  160    12/15/06       02/01/07         115         360             36           5          1        7       01/01/17       No
  161    04/13/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  162    03/15/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  163    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  164    04/17/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  165    05/16/07       07/01/07          60         360             12           0          1        7       06/01/12       No
  166    04/30/07       06/01/07         119         360             36           1          1        7       05/01/17       No
  167    03/14/07       05/01/07         118         358              0           2          1        7       04/01/17       No
  168    04/10/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  169    11/02/06       01/01/07         114         354              0           6          1        7       12/01/16       No
  170    03/12/07       05/01/07         118         300             24           2          1        7       04/01/17       No
  171    04/12/07       06/01/07         119         299              0           1          1        7       05/01/17       No
  172    01/04/07       03/01/07         116         356              0           4          1        7       02/01/17       No
  173    02/05/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  174    03/01/07       04/01/07         117         360             84           3          1        7       03/01/17       No
  175    02/21/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  176    03/05/07       05/01/07         142         358              0           2          1        7       04/01/19       No
  177    03/01/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  178    04/13/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  179    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  180    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  181    02/02/07       04/01/07         117         360             24           3          1        7       03/01/17       No
  182    05/03/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  183    03/13/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  184    03/05/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  185    03/30/07       05/01/07         118         360             48           2          1        7       04/01/17       No
  186    05/09/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  187    03/28/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  188    05/01/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  189    04/24/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  190    03/27/07       05/01/07         118         262              0           2          1        7       04/01/17       No
  191    01/08/07       03/01/07         116         360             36           4          1        7       02/01/17       No
  192    03/06/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  193    04/05/07       06/01/07         119         360             24           1          1        7       05/01/17       No
193.01
193.02
  194    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  195    04/10/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  196    02/12/07       04/01/07         117         360             36           3          1        7       03/01/17       No
  197    05/09/07       07/01/07         120         360             36           0          1        7       06/01/17       No
  198    03/30/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  199    03/06/07       05/01/07         118         360             60           2          1        7       04/01/17       No
  200    05/03/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  201    04/25/07       06/01/07         119         299              0           1          1        7       05/01/17       No
  202    04/13/07       06/01/07         119         360             60           1          1       10       05/01/17       No
  203    04/13/07       06/01/07         119         360             24           1          1        7       05/01/17       No
  204    03/28/07       05/01/07         118         358              0           2          1        7       04/01/17       No
  205    03/28/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  206    03/29/07       05/01/07         118          0             120           2          1        7       04/01/17       No
206.01
206.02
  207    03/30/07       05/01/07         118         360             24           2          1        7       04/01/17       No
  208    03/28/07       05/01/07         118         298              0           2          1        7       04/01/17       No
  209    04/23/07       06/01/07         119         359              0           1          1        7       05/01/17       No
  210    03/29/07       05/01/07         118         360             60           2          1       10       04/01/17       No
  211    03/23/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  212    05/09/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  213    05/09/07       07/01/07         120         360              0           0          1        7       06/01/17       No
  214    05/08/07       07/01/07         120         360             36           0          1        7       06/01/17       No
  215    04/16/07       06/01/07         119         299              0           1          1       10       05/01/17       No
  216    03/27/07       05/01/07         118         358              0           2          1        7       04/01/17       No
  217    03/30/07       05/01/07         118         298              0           2          1        7       04/01/17       No
  218    05/11/07       07/01/07          84         360             24           0          1        7       06/01/14       No
  219    11/13/06       01/01/07         114         294              0           6          1        7       12/01/16       No
  220    02/23/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  221    05/08/07       07/01/07         120         360             60           0          1        7       06/01/17       No
  222    05/03/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  223    03/13/07       05/01/07         118         360             36           2          1       10       04/01/17       No
  224    01/04/07       03/01/07         116         356              0           4          1        7       02/01/17       No
  225    03/14/07       05/01/07         118          0             120           2          1       10       04/01/17       No
  226    02/12/07       04/01/07         117         360             60           3          1        7       03/01/17       No
  227    02/06/07       04/01/07         117         360             36           3          1        7       03/01/17       No
  228    04/10/07       06/01/07         119         360             24           1          1        7       05/01/17       No
  229    03/22/07       05/01/07          58         360             24           2          1        7       04/01/12       No
  230    05/08/07       07/01/07         120          0             120           0          1        7       06/01/17       No
  231    03/28/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  232    02/23/07       04/01/07         117         357              0           3          1       10       03/01/17       No
  233    02/05/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  234    02/02/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  235    04/04/07       06/01/07         119         360             60           1          1        7       05/01/17       No
  236    03/28/07       05/01/07         118          0             120           2          1        7       04/01/17       No
  237    04/11/07       06/01/07         119         360             36           1          1        7       05/01/17       No
  238    03/09/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  239    02/16/07       04/01/07         117         357              0           3          1        7       03/01/17       No
  240    03/27/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  241    03/02/07       05/01/07         118         360             36           2          1        7       04/01/17       No
  242    02/13/07       04/01/07         117         357              0           3          1        7       03/01/17       No


          FINAL                     MATURITY/ARD   MATURITY
LOAN #  MAT DATE  LOAN #  LOAN #  BALANCE ($) (2)  LTV %(1)
------  --------  ------  ------  ---------------  --------

   1                1        1      225,000,000      75.0
   2                2        2      110,000,000      78.6
   3                3        3       79,297,144      72.1
   4                4        4       65,000,000      80.0
   5                5        5       60,000,000      73.8
 5.01              5.01    5.01      16,234,000
 5.02              5.02    5.02       9,224,000
 5.03              5.03    5.03       6,530,000
 5.04              5.04    5.04       3,616,000
 5.05              5.05    5.05       3,449,000
 5.06              5.06    5.06       3,210,000
 5.07              5.07    5.07       3,018,000
 5.08              5.08    5.08       2,656,000
 5.09              5.09    5.09       2,214,000
 5.10              5.10    5.10       1,992,000
 5.11              5.11    5.11       1,918,000
 5.12              5.12    5.12       1,771,000
 5.13              5.13    5.13       1,512,000
 5.14              5.14    5.14       1,402,000
 5.15              5.15    5.15       1,254,000
   6                6        6       48,325,647      60.9
   7                7        7       39,584,462      59.0
   8                8        8       37,184,134      60.9
   9                9        9       37,028,706      70.4
  10                10      10       35,424,790      73.8
  11                11      11       38,000,000      75.1
  12                12      12       34,079,808      73.0
 12.01            12.01    12.01     16,274,275
 12.02            12.02    12.02      5,835,584
 12.03            12.03    12.03      4,014,881
 12.04            12.04    12.04      2,408,929
 12.05            12.05    12.05      1,680,648
 12.06            12.06    12.06      1,605,953
 12.07            12.07    12.07      1,167,117
 12.08            12.08    12.08      1,092,421
  13                13      13       36,500,000      77.2
 13.01            13.01    13.01     23,400,000
 13.02            13.02    13.02     13,100,000
  14                14      14       35,500,000      77.7
  15                15      15       35,432,000      80.0
  16                16      16       35,000,000      75.9
 16.01            16.01    16.01      4,384,000
 16.02            16.02    16.02      3,240,000
 16.03            16.03    16.03      2,941,400
 16.04            16.04    16.04      2,760,000
 16.05            16.05    16.05      2,494,800
 16.06            16.06    16.06      2,186,800
 16.07            16.07    16.07      1,909,600
 16.08            16.08    16.08      1,886,500
 16.09            16.09    16.09      1,617,000
 16.10            16.10    16.10      1,520,000
 16.11            16.11    16.11      1,493,800
 16.12            16.12    16.12      1,475,100
 16.13            16.13    16.13      1,278,200
 16.14            16.14    16.14      1,178,100
 16.15            16.15    16.15      1,062,600
 16.16            16.16    16.16        876,000
 16.17            16.17    16.17        870,100
 16.18            16.18    16.18        685,000
 16.19            16.19    16.19        660,000
 16.20            16.20    16.20        481,000
  17                17      17       35,000,000      76.8
  18                18      18       22,602,451      28.3
  19                19      19       29,820,831      74.5
 19.01            19.01    19.01      7,268,828
 19.02            19.02    19.02      6,625,816
 19.03            19.03    19.03      5,964,166
 19.04            19.04    19.04      2,758,427
 19.05            19.05    19.05      2,012,906
 19.06            19.06    19.06      1,647,601
 19.07            19.07    19.07      1,640,145
 19.08            19.08    19.08      1,410,898
 19.09            19.09    19.09        492,044
  20                20      20       31,200,000      52.6
  21                21      21       31,000,000      80.0
  22                22      22       28,412,016      74.6
  23                23      23       27,645,841      74.2
  24                24      24       26,176,571      70.3
 24.01            24.01    24.01      9,233,516
 24.02            24.02    24.02      9,054,225
 24.03            24.03    24.03      7,888,830
  25                25      25       27,000,000      80.0
  26                26      26       25,226,693      72.1
  27                27      27       24,327,421      68.7
  28                28      28       26,700,000      69.7
  29                29      29       24,740,190      68.7
  30                30      30       26,480,000      80.0
  31                31      31          640,994       1.6
  32                32      32       22,063,347      66.7
  33                33      33       23,169,328      73.1
  34                34      34       22,837,878      72.3
  35                35      35       19,797,647      69.5
  36                36      36       18,480,828      62.4
  37                37      37       21,350,000      79.1
  38                38      38       19,916,207      70.1
  39                39      39       18,213,128      63.9
  40                40      40       21,000,000      79.8
  41                41      41       18,997,053      61.3
  42                42      42       14,934,437      58.8
  43                43      43       18,142,281      71.4
  44                44      44       17,122,345      71.5
 44.01            44.01    44.01      9,771,390
 44.02            44.02    44.02      7,350,954
  45                45      45       14,553,456      59.0
  46                46      46       17,222,396      70.6
  47                47      47       15,538,431      56.7
 47.01            47.01    47.01      5,543,440
 47.02            47.02    47.02      5,039,491
 47.03            47.03    47.03      4,955,499
  48                48      48       16,217,625      63.4
  49                49      49       16,494,857      67.9
  50                50      50       17,400,000      75.7
  51                51      51       16,750,000      79.2
  52                52      52       16,550,000      80.0
  53                53      53       15,620,286      75.5
  54                54      54       16,500,000      64.0
  55                55      55       16,000,000      65.3
  56                56      56       16,000,000      78.0
  57                57      57       14,438,445      69.8
  58                58      58       14,449,767      72.2
  59                59      59       14,182,304      67.9
 59.01            59.01    59.01      8,258,050
 59.02            59.02    59.02      5,924,254
  60                60      60       15,200,000      79.4
  61                61      61       15,200,000      79.6
  62                62      62       13,971,959      65.0
  63                63      63       15,000,000      78.9
  64                64      64       13,950,368      71.4
  65                65      65       15,000,000      70.4
  66                66      66       13,943,779      49.4
  67                67      67       13,693,945      62.0
  68                68      68       12,180,023      67.7
  69                69      69       12,550,572      69.7
  70                70      70       14,172,000      79.9
 70.01            70.01    70.01      3,280,000
 70.02            70.02    70.02      1,840,000
 70.03            70.03    70.03      1,760,000
 70.04            70.04    70.04      1,360,000
 70.05            70.05    70.05      1,208,000
 70.06            70.06    70.06      1,048,000
 70.07            70.07    70.07        872,000
 70.08            70.08    70.08        592,000
 70.09            70.09    70.09        568,000
 70.10            70.10    70.10        520,000
 70.11            70.11    70.11        432,000
 70.12            70.12    70.12        384,000
 70.13            70.13    70.13        308,000
  71                71      71       13,028,480      63.2
  72                72      72       13,500,000      79.4
  73                73      73       13,350,000      78.5
  74                74      74       13,280,000      79.8
  75                75      75       13,200,000      73.7
  76                76      76       10,359,879      54.0
  77                77      77       13,000,000      68.1
  78                78      78       11,461,713      59.7
  79                79      79       10,899,663      62.3
  80                80      80       12,700,000      80.0
  81                81      81       11,642,550      74.2
  82                82      82       11,009,705      65.1
  83                83      83       10,841,558      72.3
  84                84      84       11,169,156      64.7
  85                85      85       11,117,440      73.1
  86                86      86       11,704,000      79.0
  87                87      87       10,498,122      71.4
  88                88      88        9,778,914      63.5
  89                89      89       10,742,716      68.4
  90                90      90       10,736,408      73.6
  91                91      91       10,089,361      70.1
  92                92      92       11,400,000      79.2
  93                93      93       10,268,699      73.9
  94                94      94        8,097,195      57.6
 94.01            94.01    94.01      4,048,597
 94.02            94.02    94.02      4,048,597
  95                95      95        8,673,038      65.7
  96                96      96        9,198,399      70.8
  97                97      97        8,560,734      59.9
  98                98      98        9,316,431      74.5
  99                99      99        9,296,821      65.2
  100              100      100       9,900,000      80.0
  101              101      101       9,133,809      65.7
  102              102      102       9,390,966      59.1
  103              103      103       8,132,849      67.2
  104              104      104       8,645,333      71.4
  105              105      105       9,177,378      68.5
  106              106      106       8,361,721      67.7
  107              107      107       7,777,486      52.7
  108              108      108       8,204,647      63.7
  109              109      109       8,469,342      68.7
  110              110      110       7,930,889      31.5
  111              111      111       7,542,907      62.3
  112              112      112       7,998,954      68.4
  113              113      113       7,751,031      70.1
  114              114      114       8,648,000      79.8
  115              115      115       8,056,310      70.1
  116              116      116       8,008,724      73.5
  117              117      117       8,592,000      67.3
  118              118      118       7,827,119      74.5
  119              119      119       7,349,771      66.8
  120              120      120       7,466,725      61.7
  121              121      121       7,452,275      71.7
  122              122      122       7,379,123      70.3
  123              123      123       7,606,983      74.6
  124              124      124       8,120,000      79.4
  125              125      125       8,120,000      79.4
  126              126      126       8,000,000      79.0
  127              127      127       6,835,081      59.4
  128              128      128       7,282,086      73.6
  129              129      129       6,550,815      63.3
  130              130      130       6,570,626      63.2
  131              131      131       7,427,753      72.9
  132              132      132       6,587,412      67.2
  133              133      133       7,331,106      74.1
  134              134      134       7,426,000      77.4
  135              135      135       7,300,000      79.0
  136              136      136       6,427,309      71.7
  137              137      137       7,000,000      51.9
  138              138      138       6,193,079      40.5
  139              139      139       6,067,554      63.2
  140              140      140       5,890,794      54.0
  141              141      141       5,821,524      67.3
  142              142      142       5,857,899      68.0
  143              143      143       6,197,186      56.3
  144              144      144       6,600,000      60.6
  145              145      145       6,560,000      79.4
  146              146      146       6,500,000      68.4
  147              147      147       5,466,531      59.1
  148              148      148       5,488,170      65.3
  149              149      149       5,975,044      73.6
  150              150      150       5,646,298      61.4
  151              151      151       6,400,000      80.0
  152              152      152       5,455,503      68.8
  153              153      153       5,882,192      55.2
  154              154      154       6,230,000      79.0
  155              155      155       4,185,518      47.0
155.01            155.01  155.01      2,611,763
155.02            155.02  155.02      1,573,755
  156              156      156       5,792,796      66.9
  157              157      157       5,167,279      56.2
  158              158      158       5,062,998      66.6
  159              159      159       5,070,042      67.6
159.01            159.01  159.01      3,396,928
159.02            159.02  159.02        937,958
159.03            159.03  159.03        735,156
  160              160      160       5,320,968      70.5
  161              161      161       4,920,731      66.9
  162              162      162       5,202,973      67.3
  163              163      163       5,680,000      79.8
  164              164      164       4,767,423      67.1
  165              165      165       5,324,954      72.0
  166              166      166       5,047,419      68.2
  167              167      167       4,961,390      70.9
  168              168      168       4,716,096      67.4
  169              169      169       4,734,545      40.8
  170              170      170       4,545,379      48.9
  171              171      171       4,193,066      48.2
  172              172      172       4,649,227      45.2
  173              173      173       5,089,507      72.7
  174              174      174       5,194,875      60.8
  175              175      175       5,046,226      71.1
  176              176      176       4,326,335      63.2
  177              177      177       4,526,522      34.3
  178              178      178       5,036,904      67.2
  179              179      179       5,360,000      80.0
  180              180      180       5,280,000      79.8
  181              181      181       4,669,137      63.1
  182              182      182       5,250,000      73.9
  183              183      183       4,839,488      74.2
  184              184      184       4,848,558      72.9
  185              185      185       4,672,793      70.8
  186              186      186       4,257,267      66.0
  187              187      187       5,000,000      73.5
  188              188      188       4,116,002      66.9
  189              189      189       4,146,447      59.6
  190              190      190       3,416,850      56.9
  191              191      191       4,220,833      60.6
  192              192      192       4,385,355      71.6
  193              193      193       4,135,327      70.8
193.01            193.01  193.01      2,143,784
193.02            193.02  193.02      1,991,542
  194              194      194       4,650,000      79.8
  195              195      195       4,288,353      71.5
  196              196      196       4,084,694      66.9
  197              197      197       4,045,673      66.3
  198              198      198       4,500,000      73.8
  199              199      199       4,190,065      65.5
  200              200      200       4,500,000      66.2
  201              201      201       3,456,737      55.3
  202              202      202       4,106,462      73.3
  203              203      203       3,866,185      65.1
  204              204      204       3,625,901      63.4
  205              205      205       3,810,817      71.6
  206              206      206       4,200,000      70.1
206.01            206.01  206.01      2,850,000
206.02            206.02  206.02      1,350,000
  207              207      207       3,699,356      70.1
  208              208      208       3,304,430      53.3
  209              209      209       3,482,287      49.7
  210              210      210       3,805,264      57.2
  211              211      211       3,600,907      40.0
  212              212      212       3,356,613      26.9
  213              213      213       3,405,986      58.7
  214              214      214       3,606,501      72.1
  215              215      215       3,098,686      43.0
  216              216      216       3,358,630      48.7
  217              217      217       3,073,848      57.6
  218              218      218       3,716,097      75.1
  219              219      219       3,015,286      58.0
  220              220      220       3,202,722      62.8
  221              221      221       3,408,399      69.6
  222              222      222       3,600,000      73.5
  223              223      223       3,158,337      70.0
  224              224      224       2,958,599      45.2
  225              225      225       3,472,000      79.0
  226              226      226       3,199,020      74.4
  227              227      227       2,990,871      72.1
  228              228      228       2,782,411      67.9
  229              229      229       2,899,012      73.0
  230              230      230       3,000,000      76.9
  231              231      231       3,000,000      75.6
  232              232      232       2,553,079      63.8
  233              233      233       2,522,141      67.3
  234              234      234       2,476,740      63.8
  235              235      235       2,654,893      69.9
  236              236      236       2,600,000      53.1
  237              237      237       2,317,826      59.4
  238              238      238       2,160,931      72.0
  239              239      239       1,954,660      56.7
  240              240      240       2,068,828      69.4
  241              241      241       1,940,406      71.9
  242              242      242         866,642      45.6


                                           REMAINING
                                          PREPAYMENT                                                                MOST RECENT
LOAN #                         PROVISION (PAYMENTS)(9),(10),(17)                        2005 NOI ($)  2006 NOI ($)    NOI ($)
------                         ---------------------------------                        ------------  ------------  -----------

   1                                  L(24),Def(86),O(7)                                 41,242,206    41,932,203
   2                                  L(24),Def(89),O(5)
   3                        Grtr1%orYM(24),DeforGrtr1%orYM(90),O(4)
   4                                  L(24),Def(54),O(4)                                  5,588,453     5,253,594
   5                                  L(24),Def(90),O(4)
 5.01
 5.02
 5.03
 5.04
 5.05
 5.06
 5.07
 5.08
 5.09
 5.10
 5.11
 5.12
 5.13
 5.14
 5.15
   6                                  L(24),Def(32),O(4)                                                4,650,280     4,780,348
   7                                  L(24),Def(90),O(4)                                  1,283,099     4,291,000     4,586,592
   8                                  L(24),Def(89),O(4)                                  5,536,940     4,938,738
   9                                  L(24),Def(92),O(4)                                  3,758,396                   3,857,539
  10                                  L(24),Def(91),O(4)
  11                                  L(24),Def(91),O(4)                                                3,686,779     3,817,379
  12                                  L(24),Def(90),O(4)                                  1,454,324     1,850,373
 12.01                                                                                      -59,875       354,908
 12.02                                                                                      490,446       550,180
 12.03                                                                                      399,741       410,913
 12.04                                                                                      200,734        54,481
 12.05                                                                                       94,440        93,228
 12.06                                                                                      159,201       162,808
 12.07                                                                                       94,027       109,333
 12.08                                                                                       75,610       114,522
  13                                  L(24),Def(91),O(4)
 13.01
 13.02
  14                                  L(24),Def(89),O(4)                                  2,872,633     2,920,855
  15                                  L(24),Def(91),O(4)                                  2,870,142     2,984,871
  16                                  L(24),Def(75),O(5)                                 37,188,835                  37,446,508
 16.01                                                                                    5,345,379                   4,949,524
 16.02                                                                                    2,383,117                   3,155,606
 16.03                                                                                    3,500,395                   3,280,928
 16.04                                                                                    2,167,726                   2,765,486
 16.05                                                                                    2,809,742                   2,803,472
 16.06                                                                                    1,692,839                   2,548,935
 16.07                                                                                    2,176,644                   2,220,892
 16.08                                                                                    2,521,999                   2,128,753
 16.09                                                                                    1,911,057                   1,664,473
 16.10                                                                                      928,833                     218,243
 16.11                                                                                    1,742,658                   1,747,047
 16.12                                                                                    1,813,510                   1,740,461
 16.13                                                                                      705,714                   1,179,321
 16.14                                                                                    1,644,827                   1,352,782
 16.15                                                                                    1,172,964                   1,154,472
 16.16                                                                                      686,442                     938,400
 16.17                                                                                      908,144                     930,799
 16.18                                                                                    1,031,705                   1,279,483
 16.19                                                                                    1,416,935                     698,519
 16.20                                                                                      628,207                     688,912
  17                                  L(24),Def(87),O(7)                                  2,189,892     2,184,394
  18                                  L(24),Def(90),O(4)                                  3,716,544     3,956,876
  19                                  L(24),Def(90),O(4)
 19.01
 19.02
 19.03
 19.04
 19.05
 19.06
 19.07
 19.08
 19.09
  20                                  L(24),Def(92),O(4)                                  2,257,427     2,426,345
  21                                  L(24),Def(92),O(4)
  22                                  L(24),Def(91),O(4)                                  2,061,881     2,200,272
  23                                  L(24),Def(89),O(4)
  24                                  L(24),Def(89),O(4)                                                2,845,842
 24.01                                                                                                  1,110,760
 24.02                                                                                                    890,768
 24.03                                                                                                    844,314
  25                                  L(24),Def(91),O(4)                                  1,564,578
  26     L(24),Def(33),Defor5%(12),Defor4%(12),Defor3%(12),Defor2%(12),Defor1%(9),O(4)    2,192,815     1,910,585
  27                                  L(24),Def(33),O(2)                                                2,257,181     2,366,211
  28                                  L(24),Def(92),O(4)
  29                                  L(24),Def(91),O(4)                                  1,846,526     2,802,954     3,013,879
  30                                  L(24),Def(91),O(4)                                  1,803,732     1,963,678
  31                                  L(24),Def(210),O(4)
  32                                  L(24),Def(91),O(4)                                                              1,107,742
  33                                  L(24),Def(35),O(61)                                 2,032,266     2,065,000
  34                                  L(24),Def(90),O(4)                                  1,735,160     1,745,409
  35                                  L(24),Def(91),O(4)                                  2,178,660     1,952,458
  36                                  L(24),Def(92),O(4)
  37                                  L(24),Def(91),O(4)                                  1,301,878     1,474,362
  38                               L(57),Grtr1%orYM(56),O(4)                              2,223,894                   2,354,727
  39                                  L(24),Def(85),O(4)                                  1,323,174                   1,447,114
  40                                  L(24),Def(90),O(5)                                  1,401,257     1,707,188
  41                               L(24),Grtr1%orYM(92),O(4)
  42                                  L(24),Def(91),O(4)                                                                365,014
  43                                  L(24),Def(33),O(2)                                  2,003,854     2,416,947     2,638,619
  44                                  L(24),Def(89),O(4)                                                1,875,920
 44.01                                                                                                  1,092,612
 44.02                                                                                                    783,308
  45                                  L(24),Def(91),O(4)
  46                                  L(24),Def(92),O(4)                                  1,631,690     1,542,276
  47                                  L(24),Def(91),O(4)                                  1,331,766     1,483,225
 47.01                                                                                      459,344       492,751
 47.02                                                                                      446,432       465,218
 47.03                                                                                      425,990       525,256
  48                                  L(24),Def(89),O(4)                                                1,299,533
  49                        L(24),Def(33),DeforGrtr1%orYM(24),O(37)                       1,770,962                   1,883,332
  50                               L(23),Grtr1%orYM(92),O(4)                                            1,143,710
  51                                  L(24),Def(91),O(4)                                      2,684       389,447
  52                                  L(24),Def(91),O(4)                                  1,208,446       756,774
  53                                  L(24),Def(91),O(4)                                    638,623     1,430,716     1,450,192
  54                                  L(24),Def(32),O(2)                                  1,353,316     1,162,259
  55                                  L(24),Def(91),O(4)                                    578,854       710,276
  56                                  L(24),Def(92),O(4)                                  1,210,384     1,299,390
  57                                  L(24),Def(88),O(5)
  58                                  L(24),Def(89),O(4)                                  1,386,990     1,164,448
  59                                  L(24),Def(87),O(4)                                  1,029,620     1,347,759
 59.01                                                                                      405,298       745,313
 59.02                                                                                      624,322       602,446
  60                                  L(24),Def(84),O(10)                                 1,199,165     1,263,358
  61                                  L(24),Def(90),O(4)                                  1,058,351     1,248,261     1,262,638
  62                                  L(24),Def(91),O(4)                                    742,968     1,035,136
  63                                  L(24),Def(90),O(4)                                                  247,883       861,307
  64                               L(58),Grtr1%orYM(56),O(4)                              1,209,958     1,137,369     1,127,711
  65                                  L(24),Def(91),O(4)                                  1,151,263     1,175,832
  66                                  L(24),Def(91),O(4)                                    982,850       903,555
  67                                  L(24),Def(91),O(4)                                  1,411,844     1,253,827
  68                                  L(24),Def(91),O(4)                                    775,884       286,312
  69                                  L(24),Def(88),O(4)                                                1,153,936     1,160,388
  70                                  L(24),Def(89),O(5)                                  1,378,365     1,236,127
 70.01                                                                                      334,040       324,738
 70.02                                                                                      169,577       130,955
 70.03                                                                                      156,803       133,880
 70.04                                                                                       93,673       124,349
 70.05                                                                                      129,962       132,513
 70.06                                                                                      114,393       117,185
 70.07                                                                                       62,896        67,630
 70.08                                                                                       47,627       -25,271
 70.09                                                                                       70,425        62,615
 70.10                                                                                       58,309        30,637
 70.11                                                                                       52,661        52,468
 70.12                                                                                       48,540        49,922
 70.13                                                                                       39,459        34,506
  71                                  L(24),Def(90),O(4)                                  1,184,564     1,184,211
  72                                  L(24),Def(89),O(4)                                  1,039,448     1,363,698     1,285,158
  73                                  L(24),Def(90),O(4)
  74                                  L(24),Def(84),O(10)                                   986,523     1,076,823
  75                                  L(24),Def(92),O(4)
  76                                  L(24),Def(91),O(4)
  77                                  L(24),Def(11),O(25)
  78                                  L(24),Def(91),O(4)
  79                                  L(24),Def(91),O(4)
  80                                  L(24),Def(91),O(4)                                                  861,455
  81                                  L(24),Def(90),O(4)                                  1,025,817     1,117,794     1,129,137
  82                               L(47),Grtr1%orYM(65),O(7)                                886,593       801,607       802,082
  83                                  L(24),Def(89),O(4)                                    634,884       390,378
  84                                  L(24),Def(91),O(4)                                  1,043,944     1,044,557
  85                                  L(24),Def(90),O(4)
  86                                  L(24),Def(84),O(10)                                   934,307       986,121
  87                                  L(24),Def(91),O(4)                                  1,222,134     1,269,931
  88                                  L(24),Def(89),O(4)
  89                                  L(24),Def(91),O(5)                                    908,108       979,235     1,063,095
  90                                  L(24),Def(89),O(4)                                    999,497       981,577
  91                               L(9),Grtr1%orYM(104),O(4)                                894,497     1,039,738
  92                               L(23),Grtr1%orYM(92),O(4)                                730,015       754,087
  93                                  L(24),Def(89),O(4)                                    689,984       826,013
  94                                  L(24),Def(92),O(4)                                                1,419,872
 94.01                                                                                      635,254       725,072
 94.02                                                                                                    694,800
  95                                  L(24),Def(92),O(4)                                    842,863       683,423
  96                                  L(24),Def(90),O(4)                                  1,253,733     1,294,515
  97                              L(10),Grtr1%orYM(105),O(4)                                942,017       944,564
  98                                  L(24),Def(90),O(4)                                  1,031,336     1,010,674
  99                                  L(24),Def(88),O(4)                                  1,163,487     1,063,313
  100                                 L(24),Def(90),O(4)
  101                                 L(24),Def(92),O(4)                                    773,242       845,154
  102                         L(24),Def(23),0.6%(2),0.35%(5),O(2)                           973,286       988,466
  103                                 L(24),Def(90),O(4)                                  1,076,632                     975,633
  104                                 L(24),Def(92),O(4)
  105                              L(21),Grtr1%orYM(34),O(2)                              1,058,482     1,067,823
  106                                 L(24),Def(90),O(4)
  107                                 L(24),Def(92),O(4)                                    797,569       888,310
  108                                 L(24),Def(92),O(4)
  109                       L(24),Def(34),DeforGrtr1%orYM(56),O(4)                          197,213       620,698
  110                                 L(24),Def(90),O(4)                                                   90,598
  111                                 L(24),Def(90),O(4)                                    809,208     1,088,596
  112                                 L(24),Def(92),O(4)
  113                                 L(24),Def(90),O(4)                                    858,665       828,513
  114                                 L(24),Def(84),O(10)                                   648,169       701,918
  115                                 L(24),Def(91),O(4)                                    917,219       811,091
  116                                 L(24),Def(92),O(4)                                    409,601       683,052
  117                                 L(24),Def(90),O(4)
  118                                 L(24),Def(91),O(4)                                  1,116,430     1,128,030
  119                                 L(24),Def(90),O(4)                                    107,864       219,308
  120                                 L(24),Def(92),O(4)                                    872,408       973,185       891,973
  121                                 L(24),Def(90),O(4)
  122                                 L(24),Def(91),O(4)                                    347,687       190,353       262,136
  123                                 L(24),Def(91),O(4)                                     20,359       392,226       427,657
  124                                 L(24),Def(84),O(10)                                   614,321       670,903
  125                                 L(24),Def(84),O(10)                                   679,035       699,489
  126                                 L(24),Def(84),O(10)                                   629,088       661,026
  127             L(20),Grtr1%orYM(36),5%(12),4%(12),3%(12),2%(12),1%(8),O(4)             1,048,371                   1,323,262
  128                                 L(24),Def(89),O(4)                                    775,475       687,108
  129                              L(59),Grtr1%orYM(56),O(4)                                513,142       781,868       796,218
  130                                 L(24),Def(90),O(4)
  131                    L(6),Grtr1%orYM(17),3%(12),2%(12),1%(8),O(5)                       409,853       500,052
  132                                 L(24),Def(88),O(4)                                    630,102                     813,311
  133                              L(11),Grtr1%orYM(45),O(4)                                202,350       576,648       560,922
  134                                 L(24),Def(91),O(4)
  135                                 L(24),Def(84),O(10)                                   508,330       571,675
  136                                 L(24),Def(91),O(4)                                                  171,363       502,748
  137                       L(24),Def(35),DeforGrtr1%orYM(54),O(6)                        1,700,129     1,463,750
  138                                 L(24),Def(91),O(4)                                    421,345       568,702
  139                                 L(24),Def(86),O(4)                                    214,134       519,602
  140                                 L(24),Def(91),O(4)                                    636,466       705,730
  141                                 L(24),Def(91),O(4)
  142                                 L(24),Def(88),O(4)                                    586,625       647,933
  143                              L(43),Grtr1%orYM(68),O(4)
  144                                 L(24),Def(89),O(4)                                    667,698       986,497
  145                                 L(24),Def(84),O(10)                                   512,629       415,543
  146                                 L(24),Def(90),O(4)                                    657,222       640,100       629,844
  147                                 L(24),Def(91),O(4)
  148                                 L(24),Def(86),O(7)                                    701,075       713,765
  149                                 L(24),Def(89),O(4)                                    515,680       554,792
  150                                 L(24),Def(90),O(4)                                    337,405                     568,714
  151                                 L(24),Def(90),O(4)                                    404,938       454,889
  152                                 L(24),Def(90),O(4)
  153                                 L(24),Def(92),O(4)                                    549,025       550,863
  154                                 L(24),Def(84),O(10)                                   471,127       524,652
  155                                 L(24),Def(90),O(4)
155.01
155.02
  156                                 L(24),Def(90),O(4)
  157                              L(23),Grtr1%orYM(92),O(4)                                657,343       640,683
  158                                 L(24),Def(91),O(4)                                                                240,806
  159                                 L(24),Def(90),O(4)
159.01
159.02
159.03
  160                                 L(24),Def(87),O(4)
  161                                 L(24),Def(91),O(4)                                                                344,815
  162                                 L(24),Def(90),O(4)                                                                318,656
  163                                 L(24),Def(84),O(10)                                   389,649       428,055
  164                                 L(24),Def(91),O(4)                                                  630,791       632,889
  165                                 L(24),Def(32),O(4)                                    494,597       491,536
  166                                 L(24),Def(91),O(4)
  167                                 L(24),Def(90),O(4)
  168                              L(59),Grtr1%orYM(56),O(4)                                504,286       390,253       403,742
  169                                 L(24),Def(86),O(4)                                    900,902                     880,631
  170                              L(21),Grtr1%orYM(93),O(4)                                609,096                     744,647
  171                                 L(24),Def(91),O(4)                                    658,355       937,808       947,750
  172   L(24),Def(31),Defor5%(13),Defor4%(12),Defor3%(12),Defor2%(12),Defor1%(10),O(2)      782,217       853,328       853,332
  173                                 L(24),Def(89),O(4)                                    444,198       493,359
  174                                 L(24),Def(89),O(4)                                    567,361       649,894
  175                                 L(24),Def(89),O(4)
  176                                 L(24),Def(111),O(7)                                   351,889
  177                              L(56),Grtr1%orYM(57),O(4)                                483,485       544,309
  178                             L(11),Grtr1%orYM(104),O(4)
  179                                 L(24),Def(84),O(10)                                   424,185       443,225
  180                                 L(24),Def(84),O(10)                                   428,662       412,020
  181                                 L(24),Def(89),O(4)
  182                                 L(24),Def(92),O(4)                                    452,272       462,598
  183                                 L(24),Def(87),O(7)                                    464,166       452,765       435,094
  184                                 L(24),Def(90),O(4)                                    414,076       413,592
  185                                 L(24),Def(90),O(4)                                    385,603       377,623
  186                                 L(24),Def(92),O(4)                                    446,502       521,890
  187                                 L(24),Def(90),O(4)                                    471,306       444,312       461,841
  188                                 L(24),Def(92),O(4)                                    387,848       441,968       426,014
  189                                 L(24),Def(91),O(4)
  190                                 L(24),Def(90),O(4)                                                   36,212
  191                                 L(24),Def(88),O(4)
  192                                 L(24),Def(90),O(4)
  193                                 L(24),Def(91),O(4)                                    372,116       394,669
193.01                                                                                      186,951       205,115
193.02                                                                                      185,165       189,554
  194                                 L(24),Def(84),O(10)                                   384,565       421,538
  195                                 L(24),Def(91),O(4)                                    348,929       495,216
  196                                 L(24),Def(89),O(4)
  197                                 L(24),Def(92),O(4)                                    506,050       509,762       543,846
  198                                 L(24),Def(90),O(4)
  199                                 L(24),Def(90),O(4)                                    255,129       393,267
  200                                 L(24),Def(92),O(4)                                    384,233       378,875
  201                                 L(24),Def(91),O(4)                                    524,933       698,676
  202                                 L(24),Def(91),O(4)                                    382,910       425,002       380,791
  203                             L(11),Grtr1%orYM(104),O(4)
  204                              L(22),Grtr2%orYM(92),O(4)
  205                              L(24),Grtr1%orYM(90),O(4)                                367,987                     408,397
  206                                 L(24),Def(90),O(4)                                    144,868       424,283       424,755
206.01                                                                                                    291,413       278,910
206.02                                                                                      144,868       132,869       145,845
  207                                 L(24),Def(90),O(4)                                    406,011       383,078
  208                              L(4),Grtr2%orYM(110),O(4)
  209                                 L(24),Def(91),O(4)
  210                              L(58),Grtr1%orYM(56),O(4)                                411,253       415,910
  211                                 L(24),Def(90),O(4)                                    675,342       702,573
  212                                 L(24),Def(92),O(4)                                    515,021       580,913
  213                                 L(24),Def(94),O(2)                                    417,342       473,042
  214                              L(5),Grtr1%orYM(113),O(2)                                347,999       325,125
  215                                 L(24),Def(91),O(4)
  216                       L(24),Def(34),DeforGrtr1%orYM(54),O(6)                          538,230       538,500
  217                                 L(24),Def(90),O(4)                                    465,350       449,996
  218                              L(24),Grtr1%orYM(56),O(4)                                182,374                     280,046
  219                                 L(24),Def(86),O(4)
  220                                 L(24),Def(89),O(4)                                                  410,647
  221                                 L(24),Def(92),O(4)
  222                                 L(24),Def(92),O(4)                                    288,050       301,604
  223                                 L(24),Def(90),O(4)                                    387,338       406,941
  224   L(24),Def(31),Defor5%(13),Defor4%(12),Defor3%(12),Defor2%(12),Defor1%(10),O(2)      440,200       540,900       135,225
  225                                 L(24),Def(84),O(10)                                   258,528       281,788
  226                                 L(24),Def(89),O(4)                                    298,524       309,800
  227                                 L(24),Def(89),O(4)                                    216,540       240,759
  228                              L(5),Grtr1%orYM(110),O(4)
  229                              L(22),Grtr1%orYM(34),O(2)                                189,892       244,982
  230                                 L(24),Def(92),O(4)                                    184,058       192,822
  231                                 L(24),Def(90),O(4)                                    270,943       279,767       276,954
  232                                 L(24),Def(89),O(4)                                    310,268       351,007
  233                                 L(24),Def(89),O(4)                                    233,381       267,747
  234                                 L(24),Def(89),O(4)                                                  220,351
  235                                 L(24),Def(91),O(4)
  236                                 L(24),Def(90),O(4)                                    261,464       247,836       246,367
  237                                 L(24),Def(91),O(4)                                    223,945       222,633       227,733
  238                                 L(24),Def(90),O(4)                                                                141,864
  239                                 L(24),Def(89),O(4)                                    286,386       258,361
  240                                 L(24),Def(90),O(4)                                                  167,895
  241                                 L(24),Def(90),O(4)
  242                                 L(24),Def(89),O(4)


        MOST RECENT                                   UW                      UW
LOAN #    NOI DATE   UW NOI ($)  UW NCF ($)  DSCR (X) (1),(10),(15)  IO DSCR (X) (1),(10).(15)  TITLETYPE(21),(22)  PML %
------  -----------  ----------  ----------  ----------------------  -------------------------  ------------------  -----

   1                 53,257,788  52,242,058           1.25                    1.25                      Fee
   2                  8,093,307   7,813,798           1.29                    1.29                      Fee
   3                  7,587,995   7,351,025           1.23                    1.47                      Fee
   4                  5,718,258   5,332,828           1.39                    1.39                      Fee
   5                  6,481,484   5,810,115           1.67                    1.67                      Fee
 5.01                 1,696,485   1,493,864                                                             Fee
 5.02                 1,005,689     897,889                                                             Fee
 5.03                   704,609     631,529                                                             Fee
 5.04                   394,111     365,760                                                             Fee
 5.05                   390,464     352,857                                                             Fee
 5.06                   351,284     326,823                                                             Fee
 5.07                   280,168     249,198                                                             Fee
 5.08                   350,000     327,779                                                             Fee
 5.09                   159,539     151,328                                                             Fee
 5.10                   251,934     214,910                                                             Fee          16.0
 5.11                   213,934     178,234                                                             Fee          10.0
 5.12                   211,918     193,084                                                             Fee
 5.13                   190,919     174,603                                                             Fee
 5.14                   141,410     127,518                                                             Fee
 5.15                   139,019     124,739                                                             Fee
   6      02/28/07    5,686,771   4,912,270           1.30                    N/A                  Fee/Leasehold
   7      01/31/07    5,112,090   4,312,414           1.38                    1.67                 Fee/Leasehold
   8                  5,117,077   4,461,589           1.43                    N/A                       Fee
   9      01/31/07    4,435,445   3,889,696           1.42                    1.72                      Fee
  10                  3,283,152   3,097,209           1.16                    1.40                      Fee
  11      02/28/07    4,119,053   3,592,618           1.60                    1.60                      Fee          18.0
  12                  3,484,152   3,145,475           1.22                    1.45                      Fee
 12.01                1,644,102   1,477,586                                                             Fee
 12.02                  554,787     497,787                                                             Fee
 12.03                  437,422     399,991                                                             Fee
 12.04                  273,926     250,307                                                             Fee
 12.05                  186,668     169,542                                                             Fee
 12.06                  166,715     149,749                                                             Fee
 12.07                  113,669     104,098                                                             Fee
 12.08                  106,863      96,413                                                             Fee
  13                  3,065,605   2,943,105           1.39                    1.39                      Fee
 13.01                1,970,150   1,889,900                                                             Fee
 13.02                1,095,455   1,053,205                                                             Fee
  14                  3,047,163   2,983,627           1.46                    1.46                      Fee
  15                  2,991,112   2,883,185           1.41                    1.41                      Fee
  16      09/30/06   41,115,925  40,010,350           2.09                    2.09                      Fee
 16.01    09/30/06    5,081,464   4,989,779                                                             Fee
 16.02    09/30/06    3,975,530   3,929,927                                                             Fee
 16.03    09/30/06    3,363,701   3,303,325                                                             Fee
 16.04    09/30/06    3,363,155   3,314,179                                                             Fee
 16.05    09/30/06    2,812,801   2,779,812                                                             Fee
 16.06    09/30/06    2,181,244   2,130,406                                                             Fee
 16.07    09/30/06    2,217,251   2,166,482                                                             Fee
 16.08    09/30/06    2,139,230   2,084,695                                                             Fee
 16.09    09/30/06    1,832,432   1,716,990                                                             Fee
 16.10    09/30/06    2,645,810   2,558,930                                                             Fee
 16.11    09/30/06    1,668,339   1,642,708                                                             Fee
 16.12    09/30/06    1,467,550   1,429,538                                                             Fee          18.0
 16.13    09/30/06    1,445,488   1,353,140                                                             Fee
 16.14    09/30/06    1,450,820   1,384,840                                                             Fee          16.0
 16.15    09/30/06    1,210,851   1,177,014                                                             Fee
 16.16    09/30/06    1,087,716   1,063,950                                                             Fee
 16.17    09/30/06      978,546     956,090                                                             Fee
 16.18    09/30/06      763,636     711,199                                                             Fee
 16.19    09/30/06      921,826     841,622                                                             Fee
 16.20    09/30/06      508,533     475,721                                                             Fee
  17                  2,599,691   2,586,289           1.27                    1.27                      Fee
  18                  3,865,473   3,687,944           1.27                    N/A                       Fee
  19                  2,779,743   2,661,080           1.19                    1.43                      Fee
 19.01                  640,415     623,100                                                             Fee
 19.02                  699,404     663,396                                                             Fee
 19.03                  538,118     508,398                                                             Fee
 19.04                  264,881     256,393                                                             Fee
 19.05                  194,375     181,652                                                             Fee
 19.06                  142,713     136,588                                                             Fee
 19.07                  143,205     140,046                                                             Fee
 19.08                  109,119     105,549                                                             Fee
 19.09                   47,513      45,958                                                             Fee
  20                  2,511,877   2,416,599           1.34                    1.34                      Fee
  21                  2,342,237   2,329,713           1.28                    1.28                      Fee
  22                  2,493,961   2,382,821           1.12                    1.35                      Fee
  23                  2,688,288   2,688,288           1.28                    1.52                      Fee
  24                  2,633,348   2,505,719           1.25                    1.51                      Fee
 24.01                1,009,158     960,352                                                             Fee
 24.02                  887,632     850,832                                                             Fee
 24.03                  736,558     694,536                                                             Fee
  25                  1,966,538   1,901,414           1.23                    1.23                      Fee          14.0
  26                  2,400,008   2,300,200           1.20                    1.42                      Fee
  27      02/28/07    2,846,958   2,540,850           1.25                    N/A                       Fee
  28                  2,209,481   2,081,775           1.32                    1.32                      Fee
  29      01/31/07    3,002,493   2,669,094           1.42                    1.70                      Fee
  30                  1,935,271   1,925,721           1.28                    1.28                      Fee
  31                  3,334,016   3,258,296           1.45                    N/A                  Fee/Leasehold
  32      01/31/07    2,196,472   2,147,349           1.15                    1.33                      Fee
  33                  2,251,268   2,192,484           1.21                    1.41                      Fee
  34                  2,166,959   2,089,120           1.22                    1.47                      Fee
  35                  1,977,444   1,824,695           1.18                    1.42                      Fee
  36                  2,096,472   1,976,069           1.22                    N/A                       Fee
  37                  1,535,054   1,528,554           1.26                    1.26                 Fee/Leasehold
  38      11/30/06    2,428,846   2,211,215           1.45                    1.72                      Fee
  39      07/31/06    2,084,205   1,745,799           1.16                    1.37                   Leasehold
  40                  1,748,884   1,628,697           1.36                    1.36                      Fee
  41                  1,800,740   1,754,702           1.16                    1.36                      Fee
  42                  1,808,921   1,690,416           1.17                    N/A                       Fee           6.0
  43      03/31/07    2,328,676   2,017,735           1.35                    N/A                       Fee
  44                  1,734,705   1,637,105           1.25                    1.51                      Fee
 44.01                1,003,063     942,263                                                             Fee
 44.02                  731,641     694,841                                                             Fee
  45                  1,770,469   1,659,778           1.18                    N/A                       Fee           8.0
  46                  1,649,486   1,569,483           1.18                    1.40                      Fee
  47                  1,617,905   1,585,905           1.24                    N/A                       Fee
 47.01                  577,583     567,023                                                             Fee
 47.02                  525,072     511,852                                                             Fee
 47.03                  515,250     507,030                                                             Fee
  48                  1,388,675   1,347,875           1.06                    1.26                      Fee
  49      11/30/06    1,612,285   1,483,146           1.15                    1.35                      Fee          12.0
  50                  1,252,971   1,188,971           1.20                    1.20                      Fee
  51                  1,428,388   1,360,755           1.38                    1.38                      Fee
  52                  1,251,568   1,219,293           1.25                    1.25                      Fee
  53      02/28/07    1,450,752   1,382,268           1.21                    1.46                      Fee
  54                  1,343,582   1,232,687           1.31                    1.31                      Fee
  55                  1,064,840   1,064,840           1.16                    1.16                      Fee
  56                  1,392,520   1,325,421           1.43                    1.43                      Fee
  57                  1,642,874   1,459,234           1.28                    1.52                      Fee
  58                  1,508,719   1,374,153           1.20                    1.42                      Fee
  59                  1,467,940   1,315,337           1.20                    1.45                      Fee
 59.01                  846,909     755,304                                                             Fee
 59.02                  621,031     560,033                                                             Fee
  60                  1,273,688   1,255,488           1.36                    1.36                      Fee
  61      01/31/07    1,231,974   1,128,699           1.31                    1.31                      Fee
  62                  1,288,767   1,239,627           1.19                    1.43                      Fee          24.0
  63      02/28/07    1,263,693   1,223,693           1.39                    1.39                      Fee
  64      01/31/07    1,295,775   1,266,275           1.18                    1.40                      Fee
  65                  1,076,577   1,064,227           1.23                    1.23                      Fee          16.0
  66                  1,758,031   1,704,699           1.66                    2.02                      Fee
  67                  1,448,785   1,360,033           1.33                    1.60                      Fee
  68                  1,276,411   1,211,540           1.18                    N/A                    Leasehold
  69      02/28/07    1,260,065   1,213,462           1.20                    1.43                      Fee
  70                  1,289,675   1,144,620           1.42                    1.42                      Fee
 70.01                                                                                                  Fee
 70.02                                                                                                  Fee
 70.03                                                                                                  Fee
 70.04                                                                                                  Fee
 70.05                                                                                                  Fee
 70.06                                                                                                  Fee
 70.07                                                                                                  Fee
 70.08                                                                                                  Fee
 70.09                                                                                                  Fee
 70.10                                                                                                  Fee
 70.11                                                                                                  Fee
 70.12                                                                                                  Fee
 70.13                                                                                                  Fee
  71                  1,241,293   1,239,613           1.28                    1.55                      Fee
  72                  1,176,908   1,087,749           1.40                    1.40                      Fee
  73                  1,132,739   1,079,386           1.40                    1.40                      Fee
  74                  1,105,426   1,089,976           1.41                    1.41                      Fee
  75                    956,424     956,424           1.25                    1.25                      Fee
  76                  1,315,661   1,300,327           1.22                    N/A                       Fee
  77                  1,476,458   1,378,242           1.67                    1.67                      Fee
  78                  1,153,347   1,124,437           1.23                    1.48                      Fee
  79                  1,167,311   1,140,770           1.27                    N/A                       Fee          10.0
  80                  1,072,794   1,053,305           1.48                    1.48                      Fee
  81      01/31/07    1,031,353   1,023,458           1.18                    1.42                      Fee          14.0
  82      02/28/07    1,109,133   1,015,426           1.16                    1.40                      Fee
  83                  1,002,183     990,532           1.15                    1.36                      Fee
  84                  1,044,939   1,025,861           1.24                    1.50                      Fee          18.0
  85                  1,067,921     975,107           1.16                    1.40                      Fee
  86                    964,344     953,094           1.39                    1.39                      Fee
  87                  1,172,933   1,112,709           1.36                    1.64                      Fee
  88                  1,067,636   1,008,478           1.22                    N/A                       Fee           9.0
  89      01/31/07      993,064     959,889           1.17                    1.40                      Fee          19.0
  90                  1,022,974     944,974           1.17                    1.40                      Fee
  91                    970,488     944,824           1.20                    1.46                      Fee
  92                  1,058,279     990,279           1.48                    1.48                      Fee
  93                    906,690     861,190           1.11                    1.32                      Fee
  94                  1,383,811   1,246,039           1.55                    N/A                       Fee
 94.01                  724,233     653,301                                                             Fee
 94.02                  659,578     592,738                                                             Fee
  95                    958,413     889,148           1.22                    N/A                       Fee
  96                  1,125,695   1,024,024           1.43                    1.72                      Fee          15.0
  97                    927,975     882,666           1.22                    N/A                       Fee
  98                    929,608     840,548           1.21                    1.45                      Fee          17.0
  99                  1,104,766   1,043,903           1.50                    1.80                      Fee
  100                   910,168     815,513           1.44                    1.44                      Fee
  101                   908,223     816,554           1.19                    1.43                      Fee
  102                   967,110     834,012           1.19                    1.42                      Fee
  103     11/30/06    1,009,434     847,460           1.26                    N/A                       Fee
  104                   864,683     837,712           1.24                    1.48                      Fee
  105                 1,003,431     821,638           1.20                    1.43                      Fee
  106                   836,014     794,368           1.20                    1.45                      Fee
  107                   850,017     828,718           1.30                    N/A                       Fee          17.0
  108                   792,635     758,635           1.16                    1.39                      Fee           7.0
  109                   793,271     756,586           1.20                    1.46                      Fee
  110                 1,039,759     961,633           1.53                    1.83                      Fee
  111                 1,053,022     857,449           1.38                    N/A                       Fee
  112                   809,774     770,576           1.24                    1.49                      Fee
  113                   875,866     804,366           1.31                    1.57                      Fee
  114                   735,808     718,224           1.41                    1.41                      Fee
  115                   791,979     726,850           1.20                    1.44                      Fee          13.0
  116                   755,416     710,667           1.19                    1.44                      Fee
  117                   901,005     813,259           1.59                    1.59                      Fee
  118                   875,165     759,607           1.30                    1.56                      Fee
  119                   820,087     712,019           1.22                    1.48                      Fee
  120     02/28/07      950,933     804,270           1.38                    1.66                      Fee
  121                   704,071     691,236           1.20                    1.45                   Leasehold
  122     01/31/07      773,331     740,231           1.28                    1.54                      Fee
  123     02/28/07      709,796     671,796           1.15                    1.36                      Fee
  124                   674,433     663,391           1.36                    1.36                      Fee
  125                   678,798     659,923           1.36                    1.36                      Fee
  126                   675,651     666,001           1.39                    1.39                      Fee
  127     11/30/06    1,052,527     901,060           1.52                    N/A                       Fee
  128                   695,175     642,175           1.17                    1.40                      Fee
  129     01/31/07      953,598     839,783           1.53                    N/A                       Fee
  130                   670,682     627,142           1.16                    1.39                      Fee
  131                   666,071     636,484           1.15                    1.34                      Fee
  132     09/30/06      782,411     662,491           1.28                    1.55                      Fee
  133     02/25/07      688,297     635,297           1.15                    1.35                      Fee
  134                   594,783     575,273           1.30                    1.30                      Fee          11.0
  135                   604,368     593,568           1.39                    1.39                      Fee
  136     03/31/07      579,397     566,197           1.15                    1.39                      Fee
  137                 1,185,087   1,069,712           2.76                    2.76                      Fee
  138                   694,292     612,092           1.23                    1.46                      Fee
  139                   627,694     597,694           1.14                    N/A                       Fee
  140                   727,346     679,934           1.39                    N/A                       Fee
  141                   625,702     600,289           1.24                    N/A                       Fee
  142                   660,037     617,863           1.23                    N/A                       Fee
  143                   587,995     567,816           1.21                    1.45                      Fee          13.0
  144                   921,213     818,355           2.12                    2.12                      Fee
  145                   480,279     468,901           1.36                    1.36                      Fee
  146     02/28/07      613,693     594,693           1.60                    1.60                      Fee
  147                   577,904     542,515           1.20                    N/A                       Fee          15.0
  148                   617,482     609,283           1.33                    N/A                       Fee
  149                   584,992     542,742           1.17                    1.40                      Fee
  150     10/31/06      636,210     559,297           1.24                    1.49                      Fee
  151                   482,462     466,436           1.23                    1.23                      Fee
  152                   550,581     530,207           1.21                    1.46                      Fee
  153                   611,456     566,419           1.27                    1.51                      Fee          28.0
  154                   510,687     503,537           1.39                    1.39                      Fee
  155                   868,070     801,331           1.43                    N/A                       Fee
155.01                  577,812     540,863                                                             Fee          12.0
155.02                  290,258     260,468                                                             Fee          18.0
  156                   619,618     569,862           1.29                    1.53                      Fee
  157                   727,958     635,311           1.46                    N/A                       Fee
  158     02/28/07      525,550     517,311           1.25                    N/A                       Fee
  159                   556,043     518,105           1.22                    N/A                       Fee
159.01                  363,869     348,835                                                             Fee
159.02                  108,662      94,316                                                             Fee
159.03                   83,512      74,954                                                             Fee
  160                   536,356     513,040           1.22                    1.45                      Fee
  161     02/28/07      575,531     567,169           1.41                    N/A                       Fee
  162     05/31/07      451,350     432,699           1.25                    1.31                      Fee
  163                   472,673     466,073           1.41                    1.41                      Fee
  164     01/31/07      629,330     557,763           1.40                    N/A                       Fee
  165                   516,351     483,465           1.19                    1.40                      Fee
  166                   500,900     475,013           1.20                    1.43                      Fee
  167                   712,028     648,255           1.37                    N/A                       Fee
  168     01/31/07      528,565     467,000           1.19                    N/A                       Fee
  169     08/31/06      658,490     590,432           1.48                    N/A                       Fee
  170     11/30/06      729,915     717,545           1.72                    2.22                      Fee
  171     02/28/07      772,421     691,096           1.70                    N/A                       Fee
  172     03/31/07      771,613     691,299           1.75                    N/A                       Fee
  173                   482,549     449,752           1.16                    1.39                      Fee          18.0
  174                   660,361     581,744           1.53                    1.84                      Fee
  175                   529,583     505,090           1.31                    1.56                      Fee
  176                   461,178     443,967           1.16                    N/A                       Fee          19.0
  177                   738,799     644,515           1.73                    N/A                       Fee          24.0
  178                   490,650     471,300           1.21                    1.43                      Fee
  179                   452,458     440,358           1.40                    1.40                      Fee
  180                   465,795     456,645           1.41                    1.41                      Fee
  181                   476,705     456,739           1.21                    1.44                      Fee
  182                   420,208     406,303           1.32                    1.32                      Fee
  183     01/31/07      474,919     437,578           1.22                    1.48                      Fee
  184                   434,222     419,448           1.15                    1.38                      Fee
  185                   452,051     426,435           1.20                    1.44                      Fee
  186                   505,987     456,006           1.30                    N/A                       Fee          18.0
  187     02/28/07      485,976     477,726           1.67                    1.67                      Fee
  188     02/28/07      447,428     414,223           1.22                    N/A                       Fee
  189                   489,009     482,709           1.38                    N/A                       Fee
  190                   469,261     464,753           1.18                    N/A                       Fee
  191                   442,179     413,036           1.26                    1.52                      Fee
  192                   385,641     383,079           1.16                    1.38                      Fee
  193                   444,019     407,950           1.22                    1.45                      Fee
193.01                  231,696     216,459                                                             Fee
193.02                  212,323     191,491                                                             Fee
  194                   389,410     380,010           1.41                    1.41                      Fee
  195                   468,744     398,148           1.24                    1.49                      Fee
  196                   437,062     386,161           1.22                    1.48                   Leasehold
  197     02/28/07      513,532     434,842           1.38                    1.66                      Fee
  198                   384,242     360,975           1.39                    1.39                      Fee
  199                   460,579     394,576           1.26                    1.53                      Fee
  200                   432,529     426,302           1.61                    1.61                      Fee
  201                   621,152     551,175           1.62                    N/A                       Fee
  202     01/31/07      405,479     363,479           1.17                    1.40                      Fee
  203                   400,650     376,483           1.20                    1.41                      Fee
  204                   429,966     392,101           1.30                    N/A                       Fee
  205     10/31/06      394,672     372,172           1.27                    1.54                      Fee
  206     02/28/07      444,892     431,092           1.80                    1.80                      Fee
206.01    02/28/07      266,280     256,030                                                             Fee
206.02    02/28/07      178,611     175,061                                                             Fee
  207                   391,490     351,490           1.20                    1.44                      Fee
  208                   613,634     567,932           1.67                    N/A                       Fee
  209                   331,465     328,585           1.14                    N/A                       Fee
  210                   396,173     378,423           1.31                    1.57                      Fee
  211                   562,743     527,023           1.87                    2.24                      Fee
  212                   650,875     550,155           1.99                    N/A                       Fee
  213                   469,219     412,993           1.42                    N/A                       Fee
  214                   396,625     370,067           1.30                    1.55                      Fee          10.0
  215                   444,759     443,310           1.43                    N/A                       Fee
  216                   492,707     463,466           1.67                    N/A                       Fee
  217                   447,085     405,057           1.34                    N/A                       Fee
  218     01/31/07      428,948     412,448           1.41                    1.65                      Fee
  219                   440,002     374,496           1.25                    N/A                       Fee           8.0
  220                   412,275     386,642           1.45                    N/A                       Fee
  221                   319,838     312,284           1.21                    1.44                      Fee
  222                   295,457     278,972           1.32                    1.32                      Fee
  223                   340,869     322,565           1.29                    1.53                      Fee
  224     03/31/07      482,599     427,879           1.75                    N/A                       Fee
  225                   297,947     279,897           1.39                    1.39                      Fee
  226                   291,888     280,138           1.19                    1.44                      Fee
  227                   285,901     269,299           1.15                    1.37                      Fee
  228                   283,908     272,045           1.22                    1.46                      Fee
  229                   260,440     252,691           1.18                    1.41                      Fee
  230                   220,625     213,125           1.22                    1.22                      Fee
  231     02/28/07      286,942     278,792           1.63                    1.63                      Fee
  232                   369,019     326,800           1.50                    N/A                       Fee
  233                   276,199     253,334           1.21                    N/A                       Fee
  234                   255,377     242,577           1.15                    N/A                       Fee
  235                   245,201     230,161           1.16                    1.40                      Fee
  236     02/28/07      248,300     237,600           1.60                    1.60                      Fee
  237     02/28/07      218,115     210,727           1.16                    1.39                      Fee          12.0
  238     01/01/07      207,165     195,165           1.15                    1.38                      Fee
  239                   233,202     196,047           1.21                    N/A                       Fee
  240                   199,842     192,851           1.20                    1.44                      Fee
  241                   195,310     183,494           1.20                    1.42                      Fee
  242                   139,512     127,349           1.64                    N/A                       Fee


                                                            UPFRONT ESCROW(11)
        --------------------------------------------------------------------------------------------------------------
        UPFRONT CAPEX   UPFRONT ENGIN.  UPFRONT ENVIR.  UPFRONT TI/LC(19)  UPFRONT RE TAX  UPFRONT INS.  UPFRONT OTHER
LOAN #     RESERVE ($)    RESERVE ($)     RESERVE ($)      RESERVE ($)       RESERVE ($)   RESERVE ($)    RESERVE ($)
------  --------------  --------------  --------------  -----------------  --------------  ------------  -------------

   1               0               0              0                 0                0              0              0
   2               0               0              0                 0                0              0              0
   3               0               0              0                 0                0              0              0
   4           8,760         650,000              0            23,359          855,945         27,563              0
   5               0               0              0                 0                0              0              0
 5.01
 5.02
 5.03
 5.04
 5.05
 5.06
 5.07
 5.08
 5.09
 5.10
 5.11
 5.12
 5.13
 5.14
 5.15
   6          64,732          20,938              0                 0          496,763        181,883      2,620,000
   7               0               0              0                 0           55,753         38,426              0
   8          54,491               0              0                 0          142,000         94,629              0
   9               0          94,375              0                 0          375,365        147,309      3,316,000
  10               0         161,346              0                 0            7,990         55,210      4,560,435
  11          43,870               0              0                 0          184,716         49,175              0
  12           5,942               0              0            22,281          331,814         18,621      2,320,655
 12.01
 12.02
 12.03
 12.04
 12.05
 12.06
 12.07
 12.08
  13       1,225,000          23,375              0                 0          303,845         74,959              0
 13.01
 13.02
  14           1,746               0              0                 0           71,426         55,687              0
  15               0               0              0                 0          347,233         44,948              0
  16               0               0              0                 0                0              0              0
 16.01
 16.02
 16.03
 16.04
 16.05
 16.06
 16.07
 16.08
 16.09
 16.10
 16.11
 16.12
 16.13
 16.14
 16.15
 16.16
 16.17
 16.18
 16.19
 16.20
  17               0       2,000,000              0                 0                0              0              0
  18               0               0              0                 0                0              0              0
  19               0               0              0                 0          164,152        122,151              0
 19.01
 19.02
 19.03
 19.04
 19.05
 19.06
 19.07
 19.08
 19.09
  20               0               0              0                 0                0              0              0
  21               0               0              0                 0                0              0        305,000
  22         257,700           8,750              0                 0           74,033        207,701              0
  23               0               0              0                 0                0              0              0
  24               0               0              0                 0          207,210         96,326              0
 24.01
 24.02
 24.03
  25           1,934               0              0                 0          179,315          5,575              0
  26           2,749               0         61,250             9,163           62,297         76,256              0
  27               0               0              0                 0           94,916          5,381              0
  28               0               0              0           549,133                0              0              0
  29          31,752          60,300              0                 0           62,474         19,109      3,200,000
  30               0               0              0                 0           16,898              0              0
  31               0               0              0                 0                0              0              0
  32               0               0              0             5,000           92,711         41,155              0
  33               0               0              0                 0                0              0              0
  34           1,372               0              0             3,306           72,982         39,979      2,060,000
  35               0               0              0                 0          115,566         22,947              0
  36          75,000               0              0         1,600,000                0              0              0
  37               0               0              0                 0           13,352              0              0
  38               0               0              0                 0           87,005              0              0
  39               0         192,500              0         1,000,000                0        167,468         46,000
  40               0               0              0           200,000          116,208         59,960              0
  41               0               0              0         2,200,000           47,014          5,323      5,307,500
  42               0               0              0                 0                0              0              0
  43          25,417               0              0                 0           68,605         23,498              0
  44               0               0              0                 0           94,082         61,376              0
 44.01
 44.02
  45               0               0              0                 0                0              0              0
  46               0         187,500              0                 0                0              0              0
  47               0               0              0                 0           63,803         14,929              0
 47.01
 47.02
 47.03
  48           4,533               0              0                 0          183,126         12,131              0
  49           6,875               0              0                 0                0         18,030              0
  50           5,333          41,713              0                 0           31,417         10,821              0
  51               0          75,000              0                 0           27,152          4,603              0
  52               0               0        200,000                 0                0              0        275,000
  53               0               0              0                 0          119,220          9,802         33,750
  54           1,607               0              0            13,333          109,088         13,016              0
  55          52,250               0         17,500                 0           64,016         10,107      2,447,750
  56               0               0              0                 0           77,292         12,127              0
  57               0               0              0                 0                0              0              0
  58               0               0              0             6,250           83,351         38,765      1,000,000
  59         662,650               0              0           787,350           69,137         11,489              0
 59.01
 59.02
  60               0               0              0                 0                0              0              0
  61               0          10,000              0                 0           96,460         55,870              0
  62               0           2,500              0                 0           10,794         17,906              0
  63               0               0              0                 0                0              0              0
  64               0               0              0                 0           10,180          5,439              0
  65           1,029               0              0                 0           36,562         31,358              0
  66             581          13,687              0                 0          188,265         14,882         32,300
  67       1,000,000               0              0                 0           87,952          6,717              0
  68               0               0              0                 0           94,943          8,214              0
  69           2,330               0              0                 0           68,906         33,513         55,000
  70               0               0              0                 0           94,847              0              0
 70.01
 70.02
 70.03
 70.04
 70.05
 70.06
 70.07
 70.08
 70.09
 70.10
 70.11
 70.12
 70.13
  71               0               0              0                 0           31,960          3,563              0
  72               0               0              0           400,000           19,412              0         30,000
  73               0               0              0                 0                0         35,000              0
  74               0               0              0                 0                0              0              0
  75               0               0              0                 0           30,424              0              0
  76               0               0              0                 0           61,009          3,234              0
  77           5,000          18,844              0                 0          137,505         62,310      1,000,000
  78          10,000               0              0           240,000           52,759          4,948              0
  79               0               0              0                 0                0              0              0
  80             541               0              0           100,000          158,622         24,241              0
  81               0               0              0                 0            3,011          1,622              0
  82               0               0              0           400,000          115,088         72,635              0
  83             971               0              0           225,000          143,547         55,315        971,625
  84           1,590               0              0             1,000           29,785          6,113              0
  85           2,000               0              0                 0                0              0              0
  86               0               0              0                 0                0              0              0
  87               0               0              0                 0          163,233          7,952              0
  88               0               0              0                 0                0              0              0
  89               0          19,969              0                 0                0              0              0
  90               0               0              0                 0          115,894          7,485              0
  91             753               0              0             5,000           17,463          5,691              0
  92           5,668               0              0                 0          145,015          5,685      1,500,000
  93               0               0              0                 0           41,170         32,093              0
  94         225,000               0              0                 0           27,645         15,794              0
 94.01
 94.02
  95               0         337,500              0                 0           98,292         30,265        238,000
  96               0           1,875              0                 0            7,116          6,683              0
  97             630          82,250              0             3,333           15,477         19,907              0
  98               0               0              0                 0           71,451          5,050              0
  99               0          12,500              0                 0                0              0              0
  100              0               0              0                 0                0              0              0
  101              0         207,500              0                 0           90,981         19,946              0
  102      1,040,850               0              0         1,302,716           28,583         21,581        100,000
  103          2,374               0              0             8,333           59,462         26,672              0
  104            931               0              0                 0                0              0              0
  105         25,000               0              0           750,000           64,306         13,263         31,739
  106              0               0              0                 0            6,942          6,916        400,000
  107            443               0              0             2,500           28,586          5,644              0
  108          2,267           9,013              0                 0           57,773         25,223              0
  109              0               0              0                 0           64,283              0              0
  110            592               0              0                 0           35,333          6,444      2,000,000
  111              0               0              0                 0           28,905         48,511              0
  112              0               0              0                 0                0              0              0
  113          5,958         207,875              0                 0           80,274         92,211              0
  114              0               0              0                 0                0              0              0
  115          1,000          79,475              0            84,603                0          6,190         86,367
  116          8,000               0              0                 0           20,481              0              0
  117              0               0              0                 0                0              0              0
  118          3,077               0              0           258,333           65,083         51,359        316,137
  119              0               0              0                 0           15,291         13,530              0
  120              0               0              0                 0            6,738              0              0
  121              0               0              0                 0           70,265         12,317         30,000
  122            927               0              0             1,667           69,722         19,153      1,795,000
  123              0               0              0                 0           16,667            652         52,809
  124              0               0              0                 0                0              0              0
  125              0               0              0                 0                0              0              0
  126              0               0              0                 0                0              0              0
  127         12,622               0              0                 0           24,098          9,735              0
  128              0               0              0                 0           76,616          5,152              0
  129              0               0              0                 0           47,899         20,000              0
  130              0               0              0                 0           81,512          1,548        256,000
  131            592               0              0             2,083          117,775         19,691              0
  132          4,081          13,938              0             4,223           39,507          6,157        300,000
  133          4,417               0              0                 0           87,000         18,600        100,000
  134            533               0              0             1,500           27,327          5,245              0
  135              0               0              0                 0                0              0              0
  136              0               0              0                 0           42,434          5,368              0
  137              0           5,250              0                 0           75,151        139,492              0
  138          6,850               0         12,500                 0           33,639         80,567              0
  139          2,500               0              0                 0           11,884         20,078              0
  140              0               0              0                 0           11,355         20,159              0
  141            743               0              0             2,475           64,041          7,200              0
  142          1,160               0              0            67,500           18,103          4,882         60,000
  143              0               0              0                 0                0              0              0
  144              0               0              0                 0           48,254         15,999              0
  145              0               0              0                 0                0              0              0
  146              0               0              0                 0           30,695          1,887              0
  147            791               0              0               989           17,438         18,054              0
  148              0               0              0                 0                0              0              0
  149              0               0              0                 0           58,217          3,858              0
  150          1,183          32,113              0             6,619           34,840          9,703              0
  151          1,208               0         62,500                 0           43,341          9,734              0
  152            258               0              0            20,000           20,843          8,562        344,414
  153            839               0        343,750           150,000           32,075          7,843              0
  154              0               0              0                 0                0              0              0
  155         29,929             800              0             4,099           20,264         38,238              0
155.01
155.02
  156            614               0              0         1,440,000           36,856          2,732        500,000
  157          5,804               0              0                 0           32,738         22,601              0
  158              0               0              0                 0           41,450          2,008              0
  159            790               0              0           250,000           58,437          9,051              0
159.01
159.02
159.03
  160              0               0              0                 0           33,248          6,115        554,762
  161              0               0              0                 0           38,917          1,930              0
  162              0               0              0                 0           30,800          7,552         45,600
  163              0               0              0                 0                0              0              0
  164              0          16,250              0                 0           19,217         37,034         22,000
  165              0               0              0                 0                0              0              0
  166            348               0              0             1,741           22,212          1,200              0
  167            712               0              0           592,804           81,743         40,113              0
  168              0               0              0                 0          112,541          3,922         46,282
  169              0               0              0           150,000          145,400          3,935              0
  170              0               0              0                 0                0              0              0
  171              0               0              0                 0           34,557         24,685              0
  172              0               0              0                 0                0              0              0
  173              0               0         16,500                 0            8,498         11,762              0
  174              0               0              0                 0            6,308         11,637              0
  175          1,140               0              0           402,138           10,055          5,625              0
  176              0               0              0                 0            4,360              0              0
  177              0          11,391              0                 0                0              0              0
  178            538               0              0             1,667                0              0              0
  179              0               0              0                 0                0              0              0
  180              0               0              0                 0                0              0              0
  181              0               0              0                 0            4,360         21,319        410,000
  182              0               0              0                 0                0              0              0
  183              0               0              0                 0           42,330              0        122,800
  184              0               0              0                 0                0              0              0
  185            370               0              0             1,667           17,092          3,253              0
  186              0               0              0                 0                0              0              0
  187              0               0              0                 0           40,573            758              0
  188              0          10,188              0           100,000           34,254         11,543              0
  189            525           5,125          2,250         1,000,000           35,000          1,703              0
  190              0               0              0                 0           25,078            435              0
  191            308               0              0            81,000           24,260          1,464         79,739
  192         11,294               0              0               628           21,568          2,332              0
  193            483               0              0             1,000           60,957          8,167         75,000
193.01
193.02
  194              0               0              0                 0                0              0              0
  195              0          85,275              0                 0           63,204         27,574         30,000
  196            615               0              0                 0           61,273          4,522              0
  197        211,503         176,487              0                 0           18,135          5,909              0
  198              0         125,000              0                 0           17,800              0              0
  199              0               0              0                 0           37,142         11,191              0
  200              0               0              0                 0                0              0              0
  201              0               0              0                 0           19,993         16,233              0
  202              0          42,566              0                 0                0              0              0
  203            430               0              0             2,778                0              0              0
  204            809               0              0                 0           11,457              0              0
  205              0               0              0                 0           17,242         13,179              0
  206              0               0          6,000                 0           25,444          1,139              0
206.01
206.02
  207          3,333         109,375              0                 0           45,217         51,008              0
  208              0               0              0                 0                0          3,398              0
  209              0               0              0                 0                0          9,908              0
  210              0               0              0                 0            6,222          3,969              0
  211              0               0              0                 0           46,057          2,157              0
  212              0               0              0                 0                0              0              0
  213            843         150,000              0             4,167           33,411         45,208              0
  214            533               0              0             2,083           31,794          1,398              0
  215              0          32,220              0                 0            3,904              0              0
  216              0               0              0                 0           20,534              0              0
  217              0               0              0                 0           28,500          6,173              0
  218          1,375               0              0                 0            4,012          8,530              0
  219              0               0              0                 0            9,853          7,045              0
  220              0           3,750              0            39,800           20,298          2,757              0
  221         75,183          25,500              0                 0           10,000          3,770              0
  222              0               0              0                 0                0              0              0
  223              0               0              0                 0           21,126          4,930              0
  224              0               0              0                 0                0              0              0
  225              0               0              0                 0                0              0              0
  226         50,000          23,375              0                 0           15,809         13,767              0
  227              0         115,000              0                 0            1,500            697              0
  228            228               0              0             1,250           32,054          3,100        126,774
  229            646               0              0                 0                0          3,215              0
  230              0               0              0                 0                0              0              0
  231              0               0              0                 0            8,993            701              0
  232              0               0              0                 0            8,044          8,375         17,500
  233              0               0              0            80,000           10,533          2,129              0
  234              0               0              0                 0            8,374          9,637              0
  235              0           1,125              0                 0                0              0              0
  236              0               0              0                 0           12,988            499              0
  237          5,375               0              0                 0            2,768            347              0
  238          1,000          48,625              0                 0           18,427         21,699              0
  239              0               0              0           125,000           30,814          4,220              0
  240         34,186           3,937              0               744            7,322          6,933              0
  241              0               0              0                 0            2,105          3,292              0
  242            170               0              0                 0                0              0              0


                                                MONTHLY ESCROW(12)
        ------------------------------------------------------------------------------------------
         MONTHLY CAPEX  MONTHLY ENVIR.  MONTHLY TI/LC  MONTHLY RE TAX  MONTHLY INS.  MONTHLY OTHER  SINGLE
LOAN #     RESERVE ($)    RESERVE ($)    RESERVE ($)     RESERVE ($)   RESERVE ($)    RESERVE ($)   TENANT
------  --------------  --------------  -------------  --------------  ------------  -------------  ------

   1             0             0                 0               0             0             0        No
   2             0             0                 0               0             0             0        No
   3             0             0                 0               0             0             0        Yes
   4         8,760             0            23,359         110,432         9,188             0        No
   5             0             0                 0               0             0             0        No
 5.01                                                                                                 No
 5.02                                                                                                 No
 5.03                                                                                                 Yes
 5.04                                                                                                 No
 5.05                                                                                                 No
 5.06                                                                                                 No
 5.07                                                                                                 No
 5.08                                                                                                 No
 5.09                                                                                                 Yes
 5.10                                                                                                 Yes
 5.11                                                                                                 Yes
 5.12                                                                                                 No
 5.13                                                                                                 No
 5.14                                                                                                 Yes
 5.15                                                                                                 No
   6        64,732             0                 0          99,353        18,188             0        No
   7        61,170             0                 0          55,753         9,607             0        No
   8        54,491             0                 0          35,500             0             0        No
   9        45,479             0                 0          41,707        12,810             0        No
  10         4,427             0                 0           2,663         5,521             0        Yes
  11        43,870             0                 0          36,943             0             0        No
  12         5,942             0            22,281          40,474        56,207             0        No
 12.01                                                                                                No
 12.02                                                                                                Yes
 12.03                                                                                                No
 12.04                                                                                                No
 12.05                                                                                                No
 12.06                                                                                                Yes
 12.07                                                                                                No
 12.08                                                                                                Yes
  13             0             0                 0          50,641        24,986             0        No
 13.01                                                                                                No
 13.02                                                                                                No
  14         1,746             0                 0          17,856        11,228             0        No
  15         1,475             0            11,660          31,567         4,086             0        No
  16             0             0                 0               0             0             0        No
 16.01                                                                                                No
 16.02                                                                                                No
 16.03                                                                                                No
 16.04                                                                                                No
 16.05                                                                                                No
 16.06                                                                                                No
 16.07                                                                                                No
 16.08                                                                                                No
 16.09                                                                                                No
 16.10                                                                                                No
 16.11                                                                                                No
 16.12                                                                                                No
 16.13                                                                                                No
 16.14                                                                                                No
 16.15                                                                                                No
 16.16                                                                                                No
 16.17                                                                                                No
 16.18                                                                                                No
 16.19                                                                                                No
 16.20                                                                                                No
  17             0             0                 0               0             0             0        No
  18             0             0                 0               0             0             0        No
  19         2,500             0                 0          29,099         9,575             0        No
 19.01                                                                                                No
 19.02                                                                                                No
 19.03                                                                                                No
 19.04                                                                                                Yes
 19.05                                                                                                Yes
 19.06                                                                                                Yes
 19.07                                                                                                No
 19.08                                                                                                Yes
 19.09                                                                                                Yes
  20             0             0                 0               0             0             0        No
  21             0             0                 0               0             0             0        No
  22         2,380             0             6,833          37,017        34,617             0        No
  23             0             0                 0               0             0             0        Yes
  24        10,502             0                 0          41,442        10,703             0        No
 24.01                                                                                                No
 24.02                                                                                                No
 24.03                                                                                                No
  25         1,934             0                 0          35,863         1,858             0        No
  26         2,749             0             9,163          31,148        12,020             0        No
  27        25,509             0                 0          23,729         2,691             0        No
  28             0             0                 0               0             0             0        Yes
  29        31,752             0                 0          31,237         6,370             0        No
  30           796             0                 0           8,449             0             0        No
  31             0             0                 0               0             0             0        Yes
  32         2,047             0             5,000          15,452         3,166             0        No
  33             0             0                 0               0             0             0        No
  34         1,372             0             3,306          19,037         3,332             0        No
  35             0             0                 0          38,522         1,639             0        No
  36         1,978             0                 0               0             0             0        Yes
  37           542             0                 0           6,676             0             0        No
  38        11,039             0                 0          15,819             0             0        No
  39        13,645             0            11,000               0        16,747         6,250        No
  40             0             0             6,000          23,242         4,997             0        No
  41           908             0                 0               0         1,774             0        No
  42             0             0                 0               0             0             0        No
  43        25,417             0                 0          17,151         7,833             0        No
  44         7,861             0                 0          18,816         6,820             0        No
 44.01                                                                                                No
 44.02                                                                                                No
  45             0             0                 0               0             0             0        No
  46         1,878             0                 0               0             0             0        No
  47             0             0                 0          10,634         4,976             0        No
 47.01                                                                                                No
 47.02                                                                                                No
 47.03                                                                                                No
  48         4,533             0                 0          45,782         4,044             0        No
  49         2,097             0             7,500          11,169         3,005             0        No
  50         5,333             0                 0          10,472         3,607             0        No
  51         1,127             0                 0               0             0             0        No
  52           621             0             2,083               0             0             0        No
  53             0             0                 0          23,844         3,267             0        No
  54         1,607             0            13,333          27,272         1,085             0        No
  55             0             0                 0           9,145         3,369             0        No
  56             0             0                 0          11,042         6,064             0        No
  57             0             0                 0               0             0             0        Yes
  58         1,889             0             6,250          27,784         2,769             0        No
  59             0             0                 0          11,523         5,745             0        No
 59.01                                                                                                No
 59.02                                                                                                No
  60         1,517             0                 0               0             0             0        No
  61         8,606             0                 0          13,780        18,623             0        No
  62             0             0                 0           5,397         2,558             0        No
  63             0             0                 0               0             0             0        No
  64         2,458             0                 0          10,180         2,720             0        No
  65         1,029             0                 0          12,187         2,851             0        No
  66           581             0                 0          31,377         3,064             0        No
  67         1,707             0             5,689          29,317         3,358             0        No
  68         1,254             0             4,167          15,824           685             0        No
  69         2,330             0                 0          13,781         8,378             0        No
  70         4,973             0                 0          18,969             0             0        No
 70.01                                                                                                No
 70.02                                                                                                No
 70.03                                                                                                No
 70.04                                                                                                No
 70.05                                                                                                Yes
 70.06                                                                                                Yes
 70.07                                                                                                Yes
 70.08                                                                                                Yes
 70.09                                                                                                Yes
 70.10                                                                                                Yes
 70.11                                                                                                Yes
 70.12                                                                                                Yes
 70.13                                                                                                Yes
  71             0             0                 0           6,392         1,032             0        No
  72           808             0             3,350          19,412             0             0        No
  73             0             0                 0               0             0             0        Yes
  74         1,288             0                 0               0             0             0        No
  75             0             0                 0               0             0             0        Yes
  76             0             0             2,396          30,505         1,617             0        Yes
  77         5,000             0                 0          15,278        11,789             0        No
  78           368             0             2,042           8,793         1,649             0        No
  79             0             0                 0               0             0             0        No
  80           541             0                 0          19,828         8,080             0        No
  81           588             0                 0           3,011           811             0        No
  82         1,404             0                 0          11,509         6,053             0        No
  83           971             0                 0          23,925        18,438             0        No
  84         1,590             0             1,000           9,928         3,057             0        No
  85         2,000             0                 0               0             0             0        Yes
  86           938             0                 0               0             0             0        No
  87         1,350             0             8,998          17,520         1,988             0        No
  88             0             0                 0               0             0             0        Yes
  89             0             0             3,300               0             0             0        No
  90         3,077             0                 0          23,179         2,495             0        No
  91           753             0             5,000           5,821         2,845             0        No
  92         5,668             0                 0          24,169         5,685             0        No
  93         3,792             0                 0          10,293         4,012             0        No
  94             0             0                 0           3,949         1,755             0        No
 94.01                                                                                                No
 94.02                                                                                                No
  95             0             0             3,500          10,921         7,566             0        No
  96         4,778             0                 0           7,116         2,228             0        No
  97           630             0             3,333           7,739         3,391             0        No
  98         1,217             0             6,087          10,207         1,683             0        No
  99             0             0                 0               0             0             0        Yes
  100            0             0             5,000               0             0             0        Yes
  101            0             0             4,167           9,098         1,995             0        No
  102        3,060             0            10,198           5,717         4,410             0        No
  103        2,374             0             8,333          11,892         1,905             0        No
  104          931             0                 0               0             0             0        No
  105        2,463             0             6,158          16,076         2,653             0        No
  106        1,655             0             2,500           3,832         3,264             0        No
  107          443             0             2,500           7,147         1,770             0        No
  108        2,267             0                 0          14,443         3,603             0        No
  109            0             0                 0           6,428             0             0        No
  110          592             0                 0           8,833         1,611             0        No
  111       16,298             0                 0           9,635         4,043             0        No
  112            0             0                 0               0             0             0        Yes
  113        5,958             0                 0          16,055        10,583             0        No
  114        1,465             0                 0               0             0             0        No
  115        1,000             0                 0           7,591         2,063             0        No
  116            0             0                 0               0             0             0        No
  117            0             0                 0               0             0             0        Yes
  118        3,077             0             8,333          10,847         3,951             0        No
  119        1,047             0             8,726           7,645         1,691             0        No
  120            0             0                 0               0             0             0        No
  121            0             0                 0           6,629           880             0        No
  122          927             0             1,667           6,665         2,394             0        No
  123          118             0             4,000           3,333           652             0        No
  124          920             0                 0               0             0             0        No
  125        1,573             0                 0               0             0             0        No
  126          804             0                 0               0             0             0        No
  127       12,622             0                 0           8,033         3,245             0        No
  128        1,653             0                 0          15,323         1,717             0        No
  129        8,780             0                 0           7,983         2,500             0        No
  130          228             0             6,315          13,585         1,548             0        No
  131          592             0             2,083          16,825         1,313             0        No
  132        4,081             0             4,223           7,901         2,052             0        No
  133        4,417             0                 0          14,500         5,567             0        No
  134          533             0             1,500           3,544           874             0        No
  135          900             0                 0               0             0             0        No
  136            0             0                 0           1,789             0             0        No
  137            0             0                 0           9,394        12,681             0        No
  138        6,850             0                 0          11,213         6,714             0        No
  139        2,500             0                 0          11,884         5,020             0        No
  140          581             0             1,667          11,355         2,520             0        No
  141          743             0             2,475          12,808         1,800             0        No
  142        1,160             0             2,500           6,034         1,627             0        No
  143            0             0                 0               0             0             0        Yes
  144        4,286             0                 0           6,893         2,000             0        No
  145          948             0                 0               0             0             0        No
  146            0             0                 0          10,453           629             0        No
  147          791             0               989           5,813         1,641             0        No
  148            0             0                 0               0             0             0        Yes
  149        2,982             0                 0          11,643         1,286             0        No
  150        1,183             0               552           8,710         3,234             0        No
  151        1,208             0                 0           4,334         1,391             0        No
  152          258             0             1,667           2,978         1,070             0        No
  153          839             0                 0           4,582             0             0        No
  154          596             0                 0               0             0             0        No
  155          929             0             4,099           2,895         3,824             0        No
155.01                                                                                                Yes
155.02                                                                                                No
  156          307             0                 0           7,371           911             0        No
  157        5,804             0                 0           6,548         2,511             0        No
  158            0             0                 0           6,908           669             0        No
  159          790             0                 0           9,739         1,131             0        No
159.01                                                                                                No
159.02                                                                                                Yes
159.03                                                                                                No
  160          239             0             1,877           5,228         1,223             0        No
  161            0             0                 0           7,783           643             0        No
  162        1,554             0                 0           4,400         1,079             0        No
  163          550             0                 0               0             0             0        No
  164        5,933             0                 0           3,203         3,703             0        No
  165            0             0                 0               0             0             0        Yes
  166          348             0             1,741           7,404           300             0        No
  167          712             0                 0          16,349         7,468             0        Yes
  168          642             0             4,461          15,005           981             0        No
  169        2,579             0                 0          11,185         3,935             0        No
  170            0             0                 0          14,213             0             0        No
  171            0             0                 0           3,840         2,147             0        No
  172            0             0             9,963               0             0             0        Yes
  173          551             0             1,833           4,249           905             0        No
  174        3,276             0                 0           6,308         1,455             0        No
  175        1,140             0             2,138           3,352         1,875             0        No
  176          248             0                 0           4,360             0             0        Yes
  177            0             0                 0               0             0             0        No
  178          538             0             1,667               0             0             0        No
  179        1,008             0                 0               0             0             0        No
  180          763             0                 0               0             0             0        No
  181          285             0             1,898           1,453         3,046             0        No
  182            0             0                 0               0             0             0        Yes
  183        3,112             0                 0           8,466         1,503             0        No
  184            0             0                 0               0             0             0        Yes
  185          370             0             1,667           2,442         1,084             0        No
  186            0             0                 0               0             0             0        No
  187            0             0                 0           5,796           379             0        No
  188        1,122             0             2,083           4,893         2,886             0        No
  189          525             0                 0           2,917           568             0        Yes
  190            0             0                 0           5,016           145             0        No
  191          308             0                 0           4,043           488             0        No
  192          214             0               628           4,314           672             0        Yes
  193          483             0             1,000           4,862           810             0        No
193.01                                                                                                No
193.02                                                                                                No
  194          783             0                 0               0             0             0        No
  195        5,878             0                 0          10,534         3,677             0        No
  196          615             0                 0           8,906           754             0        No
  197        6,558             0                 0           4,554         2,955             0        No
  198            0             0                 0               0             0             0        Yes
  199            0             0                 0           7,428         1,243             0        No
  200            0             0                 0               0             0             0        Yes
  201        5,600             0                 0           2,856         1,804             0        No
  202        3,500             0                 0               0             0             0        No
  203          430             0             2,778               0             0             0        Yes
  204            0             0                 0               0             0             0        Yes
  205        1,875             0                 0           5,747         1,883             0        No
  206            0             0                 0           6,227           569             0        No
206.01                                                                                                No
206.02                                                                                                No
  207        3,333             0                 0           9,043         5,861             0        No
  208          675             0                 0               0         1,133             0        Yes
  209            0             0                 0               0         3,303             0        Yes
  210        1,479             0                 0           6,222         1,984             0        No
  211            0             0                 0           4,187           719             0        No
  212            0             0                 0               0             0             0        No
  213          843             0             4,167           6,682         3,478             0        No
  214          533             0             2,083           3,974           140             0        No
  215            0             0                 0           3,904             0             0        Yes
  216            0             0                 0           2,282             0             0        Yes
  217        1,237             0                 0           5,700           441             0        No
  218        1,375             0                 0           1,003         2,843             0        No
  219            0             0                 0           3,284         1,006             0        Yes
  220          279             0                 0           6,766           345             0        No
  221          683             0                 0             833           384             0        Yes
  222            0             0                 0               0             0             0        Yes
  223        1,524             0                 0          10,563         1,643             0        No
  224            0             0             7,583               0             0             0        No
  225          563             0                 0               0             0             0        No
  226          783             0                 0           5,270         2,753             0        No
  227          716             0             1,334           1,500           697             0        No
  228          228             0             1,250           4,007           388             0        No
  229          646             0                 0           4,153           565             0        No
  230            0             0                 0               0             0             0        Yes
  231            0             0                 0           3,093           234             0        No
  232        3,518             0                 0           2,011         1,396             0        No
  233          439             0                 0           3,010           532             0        No
  234        1,067             0                 0           1,675         1,377             0        No
  235          196             0                 0               0             0             0        Yes
  236            0             0                 0           1,855           249             0        No
  237           75             0                 0           1,384           347             0        No
  238            0             0                 0           2,632         1,662             0        No
  239        1,434             0                 0           8,804         1,055             0        No
  240          186             0               744           1,464           533             0        No
  241            0             0               834             421           366             0        No
  242          170             0                 0               0             0             0        Yes


                                         LARGEST TENANT
        ---------------------------------------------------------------------------------
                                                                                 LEASE
LOAN #  LARGEST TENANT                                              UNIT SIZE  EXPIRATION
------  --------------                                              ---------  ----------

   1    Shearman & Sterling LLP                                      517,658    08/31/22
   2    Gander Mountain                                               81,537    09/28/21
   3    Sabre Inc.                                                   473,940    03/31/22
   4    Penske Truck Leasing                                         353,607    12/31/20
   5
 5.01   Electrolux Major Appliances                                  406,966    01/31/10
 5.02   Telmar Network Technology                                    259,282    03/31/08
 5.03   Oriental Lacquer Furniture Inc                               208,800    12/31/08
 5.04   Armor USA, Inc.                                               46,288    02/28/10
 5.05   Safelite Fulfillment, Inc.                                    45,490    04/30/11
 5.06   GE On Wing Support, Inc.                                      32,256    03/31/12
 5.07   Comfortex Window Fashions                                     54,879    07/31/08
 5.08   John H. Harland Company                                       33,001    08/31/10
 5.09   Barloworld Handling, LP                                       23,460    06/30/21
 5.10   ABX Air Cargo Services, Inc.                                 105,785    11/30/10
 5.11   Smith & Nephew, Inc.                                         102,000    04/30/09
 5.12   Clark Sales and Services, Inc.                                24,210    09/30/11
 5.13   Techcom, Inc.                                                 22,882    11/30/08
 5.14   Barloworld Handling LP                                        39,692    08/31/13
 5.15   Indianapolis Newspapers, Inc.                                 20,400    06/30/08
   6
   7
   8
   9
  10    Temple University Health System Inc.                         238,493    05/31/23
  11
  12
 12.01  Deloitte & Touche, USA, LLP                                   79,292    12/31/16
 12.02  Highmark, Inc.                                                60,000    05/31/11
 12.03  Prudential Insurance Co.                                      10,906    09/30/09
 12.04  Bar Pirsum, LP                                                12,512    05/31/12
 12.05  Paychex North America                                          9,141    09/30/10
 12.06  Clear Channel                                                 17,858    12/31/07
 12.07  Systems Services Integration                                   6,733    08/31/09
 12.08  Amerihealth Mercy Health                                      11,000    01/31/10
  13
 13.01
 13.02
  14    Super Stop & Shop                                             55,000    10/01/21
  15    Ultimate Electronics                                          31,984    02/28/18
  16
 16.01
 16.02
 16.03
 16.04
 16.05
 16.06
 16.07
 16.08
 16.09
 16.10
 16.11
 16.12
 16.13
 16.14
 16.15
 16.16
 16.17
 16.18
 16.19
 16.20
  17    Linens N Things                                               47,000    01/13/22
  18
  19
 19.01  A.C. Moore                                                    25,497    12/31/13
 19.02  Circuit City                                                  37,591    01/31/17
 19.03  Sports Authority                                              43,405    05/31/16
 19.04  CaroMont - Gastonia                                           18,654    12/31/15
 19.05  CaroMont - Belmont                                            14,829    12/31/15
 19.06  Hollywood Video                                                7,488    12/31/11
 19.07  Walgreens                                                     12,544    12/31/42
 19.08  CaroMont - Stanley                                             8,323    12/31/15
 19.09  CaroMont - Kings Mountain                                      3,624    12/31/15
  20    T.J. Maxx 'N More                                             53,000    09/30/14
  21    Lowes                                                        134,563    12/31/26
  22    Winn Dixie                                                    35,922    10/28/12
  23    ABB Automation                                               536,426    12/31/16
  24
 24.01
 24.02
 24.03
  25    Food 4 Less                                                   81,736    05/31/17
  26    Burlington Coat Factory                                       83,042    01/31/10
  27
  28    General Electric Company                                     851,370    04/31/17
  29
  30
  31    Holopack International Corp.                                  99,961    02/28/27
  32    M.T. Supermarket                                              62,437    07/31/16
  33
  34    Chef's Market                                                  8,028    12/31/13
  35    Honeywell International                                       27,976    09/17/10
  36    Lakeshore Athletic Club                                      116,670    01/31/27
  37
  38
  39    BAE Systems                                                  637,625    02/28/16
  40    H.E. Butt Grocery Company                                     63,257    09/30/12
  41    Vision Flex Office                                            35,000    05/31/17
  42    MediConnect Global                                            40,000    12/31/13
  43
  44
 44.01
 44.02
  45    Envision Lending Group                                        20,000    12/31/16
  46    Giant                                                         32,549    09/30/09
  47
 47.01
 47.02
 47.03
  48
  49    USDA                                                          65,738    10/15/13
  50
  51    Ross Dress for Less                                           30,187    07/02/17
  52    Golfsmith Inc.                                                18,502    06/30/17
  53    Hobby Lobby                                                   63,706    07/31/13
  54    Health Management Resources                                   15,493    01/31/13
  55
  56    Marshalls                                                     30,000    04/30/12
  57    Value City Department Stores, Inc                            486,531    09/02/17
  58    Bally's Total Fitness                                         30,400    01/31/17
  59
 59.01  E.I. Dupont                                                  115,000    07/31/07
 59.02  Millenium Inorganic Chemicals                                 85,670    04/30/11
  60
  61
  62    Live Nation                                                   39,659    06/30/10
  63
  64
  65
  66    Washington Mutual                                              8,880    02/28/17
  67    Staples                                                       24,950    07/31/11
  68    Floor & Decor Outlets of America                              42,392    05/31/17
  69    Winn Dixie                                                    43,750    10/30/12
  70
 70.01  Gentz Industries                                              94,222    12/31/18
 70.02  Meccon Mechanical                                              5,700    11/30/07
 70.03  Product Development Corp.                                     16,800    05/31/08
 70.04  Machining Center Inc.                                         15,463    07/31/08
 70.05  American Packaging Corporation                                28,280    03/31/07
 70.06  Freer Tool & Die, Inc.                                        22,280    08/31/13
 70.07  Landslide Skate Park LLC                                      20,980    04/30/09
 70.08  Allison Engineering                                           14,688    12/31/07
 70.09  Lasertech - MI                                                13,300    02/28/11
 70.10  Lasertech-MI                                                  12,230    02/28/11
 70.11  Excel Industrial Electronics                                  10,000    12/31/09
 70.12  Excel Industrial Electronics                                   8,970    12/31/09
 70.13  Wally Kororski & Company                                       7,500    04/30/10
  71    Lucky Brand                                                    7,200    08/31/20
  72    National Semiconductor Corp                                   25,871    07/31/07
  73    BFS Diversified Products                                     262,500    09/30/12
  74
  75    Home Depot                                                   137,626    04/30/27
  76    TQL: Total Quality Logistics                                  95,833    03/11/22
  77
  78    UFO                                                           10,000    04/07/10
  79    Best Buy Stores, L.P.                                         30,350    01/31/18
  80    Comerica Bank                                                  8,903    04/30/13
  81
  82    Tesst                                                         40,000    06/30/08
  83    Bed Bath & Beyond                                             25,570    01/31/17
  84    Huki Lau                                                       4,421    05/31/11
  85    AT&T Services                                                160,024    02/28/17
  86
  87    Tech Team Global, Inc.                                        73,622    08/31/16
  88    Neways International                                          84,511    02/28/27
  89    Tresierras Brothers Market                                    22,100    02/28/14
  90
  91    Filene's Basement                                             28,269    01/31/11
  92
  93
  94
 94.01
 94.02
  95    Treasure Coast Surgical Group                                 24,266    09/30/13
  96
  97    Commonwealth of Massachusetts (Registry of Motor Vehicles)    36,027    05/11/13
  98    Altius Health Plans                                           44,446    03/31/12
  99    Corinthian Colleges Inc.                                      59,927    09/30/13
  100   HarperCollins Publishers LLC                                 296,000    06/15/17
  101   Shoppers Food Warehouse                                       35,000    02/28/09
  102   West Point Stevens                                            29,454    05/23/10
  103   Lion Apparel                                                  34,475    08/31/10
  104   Price Chopper                                                 39,598    08/31/22
  105   Weiss, Berzowski, Brady & Donahue                             21,403    10/31/10
  106   Finish Unlimited, Inc.                                         8,115    12/31/09
  107   LG's Prime Steakhouse                                          8,111    11/30/12
  108
  109   CVS                                                           10,125    04/30/23
  110   Jimmy's Cheyenne Market                                       19,940    03/30/16
  111
  112   Empire Distriubutors of North Carolina, Inc.                 413,820    01/31/17
  113
  114
  115   TransCore Commerical Services, Inc.                           48,205    08/30/11
  116   Eastern Title Agency                                          13,396    04/30/16
  117   AT&T Services, Inc.                                          141,525    03/31/17
  118   Kinder Morgan                                                 43,392    01/31/12
  119   CNI Administration                                            37,250    12/31/11
  120
  121   Walgreens                                                     14,800    01/31/32
  122   Fresh Grocer                                                  43,750    09/30/17
  123   Kansai Japanese Steak                                          4,250    10/31/16
  124
  125
  126
  127
  128
  129
  130   Union Security Insurance                                      24,616    02/28/14
  131   Firestone Pad                                                  8,143    09/30/20
  132   Hoosier Handpak                                               60,911    05/31/10
  133
  134   TJ Maxx                                                       31,000    10/31/16
  135
  136
  137
  138
  139
  140   Emilani International                                          4,085    03/31/12
  141   Design International                                          11,719    03/31/17
  142   Shops of River Square                                         30,000    12/31/09
  143   The Key Club                                                  11,735    11/15/16
  144
  145
  146
  147   General Atomics, Inc.                                         25,273    04/30/09
  148   Lower General Hospital, Inc.                                  40,996    02/28/22
  149
  150   Wakefern (Price Rite grocery)                                 33,369    02/28/16
  151
  152   Cici Pizza                                                     4,175    12/03/16
  153   Ralph's Grocery Store                                         21,000    08/31/12
  154
  155
155.01  Fat Cats                                                      41,536    08/31/21
155.02  Fat Cats                                                      21,522    06/30/22
  156   Secure Medical                                                16,281    03/31/12
  157
  158
  159
159.01  Decor Lighting                                                25,000    01/31/19
159.02  The Children House                                             8,000    11/01/12
159.03  Dr. Westendorf                                                 3,200    09/13/08
  160   Stereo Unlimited                                               5,000    06/30/11
  161
  162
  163
  164
  165   Hagerstown Business College                                   50,000    12/31/18
  166   The Children's Hospital Association                           13,845    12/01/13
  167   AFEC Southeast, LLC                                           56,940    11/15/26
  168   Flexben/Wage Works                                            16,139    12/31/12
  169   Mulligan's Entertainment                                      18,000    09/30/08
  170
  171
  172   Promax Logistics                                             200,783    12/31/09
  173   Drug Emporium                                                 27,750    03/31/09
  174
  175   Sleepys                                                        8,461    11/30/12
  176   C.M. Meiers Co.                                               24,240    02/28/22
  177   Voice Print                                                   21,473    09/30/09
  178   City & Suburban Delivery Systems, Inc.                        34,120    09/30/14
  179
  180
  181   Family Dollar                                                  6,820    12/31/11
  182   Circuit City                                                  27,811    11/30/18
  183
  184   Redners Markets, Inc.                                         52,763    02/28/27
  185   Blockbuster                                                    6,400    12/31/08
  186   InfoTrax, LLC                                                 17,225    03/31/08
  187
  188   Big Lots                                                      33,298    01/31/09
  189   Regency Furniture                                             42,000    03/30/22
  190   Brown Mackie-College                                          25,610    01/20/19
  191   Brubakers Bakery & Coffee                                      3,400    10/31/11
  192   Metropolitan Life Insurance Company                           15,075    12/31/11
  193
193.01  Excel Physical Therapy                                         4,947    07/31/09
193.02  Enerwise Global Tech                                          20,904    01/31/09
  194
  195
  196   Time Warner                                                   30,980    07/31/16
  197
  198   Washington Newspaper Publishing Co.                           42,304    09/30/12
  199   ATF                                                            9,053    02/28/14
  200   Worldwide Wholesale Floor Covering                            41,515    02/01/50
  201
  202
  203   Fabricade Inc                                                 51,540    11/01/15
  204   Stock Building Supply                                         95,379    05/30/20
  205
  206
206.01
206.02
  207
  208   DataPipe, Inc.                                                36,000    01/31/26
  209   Publix                                                        28,800    10/31/23
  210
  211   TNS Healthcare Inc.                                           25,622    03/31/13
  212   Bashas' Inc.                                                  39,919    12/31/11
  213   Thriftway Market                                              28,630    06/30/12
  214   Shanlex Lady Fitness                                           7,427    07/01/08
  215   Walgreens                                                    216,765    03/31/81
  216   Gold's Gym                                                    40,000    03/31/17
  217   Wellington Orthopedic                                         11,886    07/31/11
  218
  219   Tahitian Noni International                                  122,333    07/31/09
  220   Keller Williams Realty                                        16,261    08/31/20
  221   Parking Management, Inc.                                         302    01/31/27
  222   Petco                                                         15,000    01/31/16
  223
  224   IMS-Autrans, LLC                                             100,000    12/31/09
  225
  226
  227   Stage Stores (Bealls)                                         11,620    11/30/16
  228   Fiji Express                                                   2,450    11/30/11
  229
  230   Pathmark Supermarket                                          50,000    04/01/11
  231
  232
  233   Luciano's                                                      6,128    09/30/08
  234
  235   Office Max                                                    23,500    11/09/19
  236
  237   Washington Mutual Bank                                         3,500    04/30/12
  238
  239   Stellar Industries                                            15,620    04/30/09
  240   Willcrest Animal Hospital                                      3,480    03/31/14
  241   Boot Country                                                   6,500    09/30/11
  242   Rite Aid                                                      13,566    06/30/19


                                                    2ND LARGEST TENANT
        -------------------------------------------------------------------------------------------------------------
                                                                                                             LEASE
LOAN #  2ND LARGEST TENANT                                                                      UNIT SIZE  EXPIRATION
------  ------------------                                                                      ---------  ----------

   1    Kirkpatrick & Lockhart                                                                   125,176    10/31/17
   2    Hollywood Theaters                                                                        54,300    09/30/21
   3
   4    Worley Parsons                                                                           172,939    03/31/10
   5
 5.01   Boise Cascade Office Products                                                             86,102    02/28/13
 5.02   Fujitsu Transaction Solutions                                                             48,718    04/30/10
 5.03
 5.04   Frate, Inc.                                                                               11,572    02/29/08
 5.05   Floyd Bell, Inc.                                                                          24,980    08/31/11
 5.06   Lohmann Technologies, Inc.                                                                21,504    04/30/10
 5.07   All American Plastic & Packaging                                                          33,609    09/30/09
 5.08   Shook & Fletcher Insulation Co                                                            12,580    09/30/09
 5.09
 5.10
 5.11
 5.12   D.L. Couch Wallcovering, Inc.                                                              9,894    10/31/07
 5.13   Master Lease                                                                               9,465    10/31/07
 5.14
 5.15   Coinmach Laundry Corporation                                                              10,800    11/30/09
   6
   7
   8
   9
  10
  11
  12
 12.01  Highmark, Inc.                                                                            63,983    08/31/11
 12.02
 12.03  Equity One Incorporated                                                                    3,284    11/30/09
 12.04  Leukemia Society of America                                                                3,124    09/30/07
 12.05  Liberty Checks & Services                                                                  4,465    05/31/09
 12.06
 12.07  Moore Wallace North America                                                                3,341    08/31/08
 12.08
  13
 13.01
 13.02
  14    National Wholesale Liquidators                                                            50,068    11/01/25
  15    Marshalls                                                                                 30,000    08/31/12
  16
 16.01
 16.02
 16.03
 16.04
 16.05
 16.06
 16.07
 16.08
 16.09
 16.10
 16.11
 16.12
 16.13
 16.14
 16.15
 16.16
 16.17
 16.18
 16.19
 16.20
  17    Circuit City                                                                              32,156    01/31/22
  18
  19
 19.01  Encore Enterprises                                                                        15,375    02/16/14
 19.02  OfficeMax                                                                                 30,446    01/31/12
 19.03  OfficeMax                                                                                 23,532    06/30/16
 19.04
 19.05
 19.06
 19.07  H&R Block                                                                                  1,750    04/30/09
 19.08
 19.09
  20    Best Buy                                                                                  45,270    01/31/10
  21    Kohl's                                                                                    88,248    10/30/26
  22    Little College at Royal Oaks                                                              11,158    05/30/15
  23
  24
 24.01
 24.02
 24.03
  25    AJ Wright                                                                                 25,052    10/31/14
  26    Freehold Music Center                                                                     25,772    07/31/10
  27
  28
  29
  30
  31
  32    M.T. Supermarket - Warehouse                                                              30,500    07/31/16
  33
  34    Commerce Bank                                                                              6,600    07/31/22
  35    Corporate Office Centers                                                                  14,499    05/31/13
  36
  37
  38
  39    Raytheon                                                                                 313,287    01/31/09
  40    City Public Service                                                                       17,421    01/31/08
  41    South Beach Club                                                                           7,746    05/31/17
  42    American Family Mutual Insurance Co.                                                      34,388    10/31/12
  43
  44
 44.01
 44.02
  45    Monavie                                                                                   12,958    10/31/10
  46    Eckerd Drug                                                                               14,000    09/30/09
  47
 47.01
 47.02
 47.03
  48
  49    Signature Theatres                                                                        17,000    02/28/19
  50
  51    Goody's                                                                                   25,160    03/08/16
  52    Party City                                                                                11,800    02/29/12
  53    Hastings Entertainment Inc.                                                               34,019    10/31/09
  54    MA Rehab Comm of Mass                                                                      5,600    07/18/07
  55
  56    Ross Dress For Less                                                                       29,975    01/31/14
  57
  58    Tutor Time Child Care Center                                                              12,321    01/31/13
  59
 59.01  Sardo & Sons                                                                              93,689    09/30/07
 59.02  DelMarva (A-Whisco)                                                                       66,826    02/28/10
  60
  61
  62    Spitfire Pictures/Vertigo                                                                  5,014    12/31/08
  63
  64
  65
  66    Dr. Charles King Chan, MD                                                                  1,800      MTM
  67    Petco                                                                                     15,000    01/31/12
  68    Office Depot                                                                              30,761    12/31/11
  69    Party City                                                                                16,050    08/31/13
  70
 70.01  Premier Malt Products                                                                      1,440    08/31/08
 70.02  Development Essential Services, Inc.                                                       3,300    01/31/08
 70.03  JDM Woodworking, Duncan                                                                   10,800    12/31/07
 70.04  Delphi Automotive                                                                          7,600    09/30/07
 70.05
 70.06
 70.07
 70.08
 70.09
 70.10
 70.11
 70.12
 70.13
  71
  72    MTC/Tricor Services LLC                                                                   14,448    08/31/10
  73
  74
  75
  76
  77
  78    Flat Rate                                                                                  5,000    07/31/10
  79    Ross Dress For Less, Inc.                                                                 30,076    01/31/17
  80    Prudential Florida WCI Realty                                                              6,865    07/31/08
  81
  82    Carday                                                                                    20,480    07/30/07
  83    CVS                                                                                       10,000    02/18/09
  84    Nishiki                                                                                    2,966    10/31/07
  85
  86
  87    Record Deposition Service, Inc                                                            17,727    01/31/14
  88
  89    Oxnard Family Circles                                                                      8,400    11/30/12
  90
  91    Papa Gino's                                                                                4,000    12/31/09
  92
  93
  94
 94.01
 94.02
  95    Martin Memorial Medical Center                                                            13,342    03/31/12
  96
  97    Dunkin Donuts                                                                              1,736    10/16/10
  98    SIBU                                                                                       5,572    03/31/10
  99
  100
  101   Unlimited Fashion                                                                         11,202    10/31/08
  102   Beall's Outlet                                                                            17,245    11/30/08
  103   Dayton Freight Lines                                                                      33,477    12/31/09
  104   Lake Placid Health & Fitness                                                              13,600    3//31/11
  105   Milwaukee Symphony Orchestra                                                              18,376    12/31/11
  106   Chem Pak                                                                                   6,543      MTM
  107   St. James at the Vineyard                                                                  6,629    12/31/13
  108
  109   Eastern Petroleum Corp                                                                     3,500    12/31/22
  110   Southwest Gas Corporation                                                                  3,006    07/31/16
  111
  112
  113
  114
  115   Lance Johnson & Associates                                                                 1,966    01/31/09
  116   Quality Title & Abstract                                                                  10,628    06/30/13
  117
  118   Cotton Bledsoe Tighe & Dawson, PC                                                         35,785    02/28/12
  119   U S Air Force                                                                             27,882    09/30/07
  120
  121   Panera                                                                                     4,600    05/08/17
  122   Rite Aid                                                                                  11,180    10/31/27
  123   Ruben's Mexican Restaurant                                                                 3,700    12/31/15
  124
  125
  126
  127
  128
  129
  130   Freescale Semiconductor                                                                   19,234    12/31/12
  131   Hollywood Video                                                                            6,436    12/27/13
  132   Distributors Terminal Corp.                                                               52,189    03/31/07
  133
  134   Everything $5                                                                             11,646    01/31/15
  135
  136
  137
  138
  139
  140   Shree Jee One                                                                              3,466    12/31/10
  141   Dr. Carabasi - Chiro/Gym                                                                   7,400    01/31/08
  142   Diamond Backs/Gratziano's                                                                 12,800    04/30/23
  143
  144
  145
  146
  147   CPPI                                                                                      22,210    01/01/22
  148
  149
  150   BBE                                                                                       15,000    12/31/10
  151
  152   BBG Mattress Market                                                                        3,000    02/23/12
  153   Carper Perkins Enterprises                                                                 6,000    10/31/08
  154
  155
155.01
155.02  Costa Vida                                                                                 2,521    06/30/24
  156   Low Cost Pharmacy                                                                          4,119    03/31/12
  157
  158
  159
159.01  First Rate Mortgage                                                                        2,500    11/30/07
159.02
159.03  Dr . Metherdine                                                                            3,200    10/31/14
  160   Cabo's MixMex Grill                                                                        5,000    05/31/16
  161
  162
  163
  164
  165
  166   IQRE (Mainstream Mortgage)                                                                 4,883    07/01/11
  167
  168   Wilson Partners                                                                            9,948    02/28/22
  169   Burke's Outlet                                                                            13,000    04/30/08
  170
  171
  172
  173   CTG Dollar Store                                                                           6,115    05/31/10
  174
  175   Zooz Pet Center                                                                            4,792    02/29/12
  176
  177   Apex Fitness                                                                              12,646    06/30/07
  178   Viccaro Equipment Corporation                                                             20,382    10/31/16
  179
  180
  181   Jewish Board                                                                               6,100    12/31/15
  182
  183
  184
  185   Hollywood Tan                                                                              3,339    03/31/11
  186   Corporation of the Presiding Bishop of the Church of Jesus Christ of Latter-Day Saints    10,732    08/31/08
  187
  188   Card & Party Factory                                                                      13,500    07/31/07
  189
  190   Republic Bank & Trust                                                                      4,440    01/05/19
  191   Maughan Physical Therapy                                                                   2,400    12/31/10
  192
  193
193.01  Re/Max Integrity                                                                           2,360    01/31/08
193.02  Chetty Builders, Inc                                                                       5,096    01/31/22
  194
  195
  196   Capital District Behavioral Health                                                         2,091    10/31/11
  197
  198
  199   OPM Customs Personnel                                                                      8,313    10/31/09
  200
  201
  202
  203
  204
  205
  206
206.01
206.02
  207
  208
  209
  210
  211   IKON Office Solutions, Inc.                                                               10,400    03/31/10
  212   ABC Discount                                                                              22,704    04/30/12
  213   Rite Aid - 1767                                                                            8,230    01/28/12
  214   Executive Suites                                                                           6,154    05/06/12
  215
  216
  217   North American Refractories                                                                4,320    07/31/08
  218
  219
  220   Hexter-Fair Title Company                                                                  4,039    05/31/10
  221
  222
  223
  224   Abilityworks, Inc.                                                                        52,000    09/30/24
  225
  226
  227   Family Dollar                                                                              8,450    12/31/10
  228   Beneficial Financial (HSBC)                                                                2,100    03/21/12
  229
  230
  231
  232
  233   LaPetite Pastry Shoppe                                                                     3,726    12/31/10
  234
  235
  236
  237   Cingular Wireless (AT&T)                                                                   2,520    02/28/13
  238
  239   Sharpe Fabricating, Inc.                                                                   8,000    08/31/07
  240   Sun Food Market                                                                            2,080    05/31/08
  241   Ziegler Group                                                                              4,250    11/30/11
  242


                                        3RD LARGEST TENANT
        --------------------------------------------------------------
                                                               LEASE        LOAN
LOAN #  3RD LARGEST TENANT                       UNIT SIZE  EXPIRATION    PURPOSE    LOAN #
------  ------------------                       ---------  ----------  -----------  ------

   1    Goodwin Procter LLP                       124,072    11/30/08   Refinance      1
   2    Ashley Furniture Homestore                 41,820    09/30/17   Refinance      2
   3                                                                    Refinance      3
   4    UGI Utilities                              44,665    03/31/09   Acquisition    4
   5                                                                    Acquisition    5
 5.01   HCA Realty, Inc.                           85,850    06/30/15   Acquisition   5.01
 5.02                                                                   Acquisition   5.02
 5.03                                                                   Acquisition   5.03
 5.04   Uti, United States, Inc.                   11,572    04/30/12   Acquisition   5.04
 5.05   Dal-Tile Corporation                       19,480    05/31/08   Acquisition   5.05
 5.06   Datalogic, Inc                             16,128    04/30/09   Acquisition   5.06
 5.07                                                                   Acquisition   5.07
 5.08   Alexander Scott and Associates              3,613    08/31/08   Acquisition   5.08
 5.09                                                                   Acquisition   5.09
 5.10                                                                   Acquisition   5.10
 5.11                                                                   Acquisition   5.11
 5.12   Tronitech, Inc.                             8,074    09/30/07   Acquisition   5.12
 5.13   Tronitech, Inc.                             7,930    09/30/07   Acquisition   5.13
 5.14                                                                   Acquisition   5.14
 5.15   Clark Sales and Service, Inc.               9,600    09/30/11   Acquisition   5.15
   6                                                                    Refinance      6
   7                                                                    Refinance      7
   8                                                                    Refinance      8
   9                                                                    Acquisition    9
  10                                                                    Refinance      10
  11                                                                    Refinance      11
  12                                                                    Acquisition    12
 12.01  Kong Kang & Hakjoon Kang                    5,111    03/31/10   Acquisition  12.01
 12.02                                                                  Acquisition  12.02
 12.03  Ameriquest Mortage Co.                      3,154    05/31/08   Acquisition  12.03
 12.04  Harrisburg Symphony                         2,690    06/30/08   Acquisition  12.04
 12.05                                                                  Acquisition  12.05
 12.06                                                                  Acquisition  12.06
 12.07                                                                  Acquisition  12.07
 12.08                                                                  Acquisition  12.08
  13                                                                    Acquisition    13
 13.01                                                                  Acquisition  13.01
 13.02                                                                  Acquisition  13.02
  14    Rite Aid                                   10,873    09/01/19   Refinance      14
  15    Linens N things                            28,023    01/31/13   Acquisition    15
  16                                                                    Refinance      16
 16.01                                                                  Refinance    16.01
 16.02                                                                  Refinance    16.02
 16.03                                                                  Refinance    16.03
 16.04                                                                  Refinance    16.04
 16.05                                                                  Refinance    16.05
 16.06                                                                  Refinance    16.06
 16.07                                                                  Refinance    16.07
 16.08                                                                  Refinance    16.08
 16.09                                                                  Refinance    16.09
 16.10                                                                  Refinance    16.10
 16.11                                                                  Refinance    16.11
 16.12                                                                  Refinance    16.12
 16.13                                                                  Refinance    16.13
 16.14                                                                  Refinance    16.14
 16.15                                                                  Refinance    16.15
 16.16                                                                  Refinance    16.16
 16.17                                                                  Refinance    16.17
 16.18                                                                  Refinance    16.18
 16.19                                                                  Refinance    16.19
 16.20                                                                  Refinance    16.20
  17    Golf Skokie Real Property Company, Inc.    10,190    10/06/21   Refinance      17
  18                                                                    Refinance      18
  19                                                                    Acquisition    19
 19.01                                                                  Acquisition  19.01
 19.02                                                                  Acquisition  19.02
 19.03                                                                  Acquisition  19.03
 19.04                                                                  Acquisition  19.04
 19.05                                                                  Acquisition  19.05
 19.06                                                                  Acquisition  19.06
 19.07                                                                  Acquisition  19.07
 19.08                                                                  Acquisition  19.08
 19.09                                                                  Acquisition  19.09
  20    Barnes & Noble                             30,200    09/30/10   Refinance      20
  21    Long Horn Steak House                       6,345    12/31/21   Refinance      21
  22    The Billiards Club Inc.                     7,504    12/27/09   Refinance      22
  23                                                                    Acquisition    23
  24                                                                    Refinance      24
 24.01                                                                  Refinance    24.01
 24.02                                                                  Refinance    24.02
 24.03                                                                  Refinance    24.03
  25    Big 5                                      15,000    01/31/11   Acquisition    25
  26    WOW VI LLC                                 22,700    01/31/17   Refinance      26
  27                                                                    Refinance      27
  28                                                                    Acquisition    28
  29                                                                    Acquisition    29
  30                                                                    Refinance      30
  31                                                                    Acquisition    31
  32    Food Court                                 12,420    03/31/14   Refinance      32
  33                                                                    Acquisition    33
  34    Eckerd Drug                                 4,680    08/31/12   Refinance      34
  35    Sacks Tierney, P.A.                        11,937    01/31/11   Refinance      35
  36                                                                    Refinance      36
  37                                                                    Refinance      37
  38                                                                    Refinance      38
  39    AST ACME, INC.                             64,273    08/31/09   Refinance      39
  40    Bio-Medical Application Tx Inc             12,025    06/30/08   Refinance      40
  41    7th Heaven                                  4,816    03/31/19   Refinance      41
  42    Digital Draw Network, Inc.                 27,369    03/31/12   Refinance      42
  43                                                                    Acquisition    43
  44                                                                    Refinance      44
 44.01                                                                  Refinance    44.01
 44.02                                                                  Refinance    44.02
  45    Broadweave Networks Inc.                    9,607    01/31/12   Refinance      45
  46    CMP Junior Deli                             4,000    04/30/07   Refinance      46
  47                                                                    Refinance      47
 47.01                                                                  Refinance    47.01
 47.02                                                                  Refinance    47.02
 47.03                                                                  Refinance    47.03
  48                                                                    Acquisition    48
  49    REMAX Norcal Gold                           4,000    06/30/12   Refinance      49
  50                                                                    Acquisition    50
  51    PETCO                                      15,174    06/16/17   Refinance      51
  52    Rockaway Bedding                            7,054    02/19/15   Acquisition    52
  53    Tractor Supply Company                     26,043    06/13/08   Refinance      53
  54    Irish Immigration Center                    5,598    05/31/09   Acquisition    54
  55                                                                    Acquisition    55
  56    Bed Bath & Beyond                          20,000    01/31/14   Acquisition    56
  57                                                                    Refinance      57
  58    Dollar General                              9,000    05/31/11   Refinance      58
  59                                                                    Acquisition    59
 59.01  Norkol, Inc.                               53,040    09/30/09   Acquisition  59.01
 59.02                                                                  Acquisition  59.02
  60                                                                    Refinance      60
  61                                                                    Acquisition    61
  62                                                                    Refinance      62
  63                                                                    Refinance      63
  64                                                                    Acquisition    64
  65                                                                    Refinance      65
  66    Ci Ci Beauty Co, Inc                        1,745       MTM     Refinance      66
  67    Chuck E. Cheese                            10,180    07/31/08   Refinance      67
  68    Ross Stores Texas, LP                      30,100    01/31/10   Refinance      68
  69    Beall's Outlet                             15,000    04/30/11   Refinance      69
  70                                                                    Refinance      70
 70.01                                                                  Refinance    70.01
 70.02  Premier Assembly Plus Inc.                  3,000    07/01/06   Refinance    70.02
 70.03  Gentz Industries                           10,800    12/31/07   Refinance    70.03
 70.04  SG Construction Services                    5,652    12/31/07   Refinance    70.04
 70.05                                                                  Refinance    70.05
 70.06                                                                  Refinance    70.06
 70.07                                                                  Refinance    70.07
 70.08                                                                  Refinance    70.08
 70.09                                                                  Refinance    70.09
 70.10                                                                  Refinance    70.10
 70.11                                                                  Refinance    70.11
 70.12                                                                  Refinance    70.12
 70.13                                                                  Refinance    70.13
  71                                                                    Refinance      71
  72    Skyline Technical High School              11,388    06/30/13   Refinance      72
  73                                                                    Acquisition    73
  74                                                                    Refinance      74
  75                                                                    Refinance      75
  76                                                                    Refinance      76
  77                                                                    Refinance      77
  78    Albert Malekan                              5,000    10/07/12   Acquisition    78
  79    Bed Bath & Beyond Inc.                     23,029    01/31/17   Refinance      79
  80    Moon Thai/ Japanese Restaurant              4,901    01/31/13   Acquisition    80
  81                                                                    Refinance      81
  82    Gilford                                    16,000    06/30/09   Refinance      82
  83    Atlantic Fish Grill                         6,050    12/31/10   Acquisition    83
  84    Togos                                       2,179    05/31/11   Refinance      84
  85                                                                    Acquisition    85
  86                                                                    Refinance      86
  87    Verizon Global Networks, Inc.               3,538    03/31/13   Acquisition    87
  88                                                                    Acquisition    88
  89    Clinic (Mike Kemel)                         6,800    02/28/08   Refinance      89
  90                                                                    Refinance      90
  91                                                                    Refinance      91
  92                                                                    Refinance      92
  93                                                                    Refinance      93
  94                                                                    Refinance      94
 94.01                                                                  Refinance    94.01
 94.02                                                                  Refinance    94.02
  95    AGR Properties, LLC                         6,776    12/31/16   Refinance      95
  96                                                                    Acquisition    96
  97                                                                    Refinance      97
  98    Aserius                                     4,885    09/30/10   Refinance      98
  99                                                                    Acquisition    99
  100                                                                   Acquisition   100
  101   AutoZone                                    6,800    10/07/15   Refinance     101
  102   Dollar Tree                                12,836    02/28/12   Acquisition   102
  103   Progressive Casualty Insurance             17,172    09/30/08   Refinance     103
  104   La Luna Loca                                4,294    06/30/09   Acquisition   104
  105   Otjen, Vanert & Weir, S.C.                 14,333    12/31/08   Acquisition   105
  106   Owen & Ollie's Restaurant                   5,976    08/31/11   Refinance     106
  107   Don Vincent Menswear                        2,680    12/31/08   Refinance     107
  108                                                                   Refinance     108
  109   Chevy Chase Bank                            3,088    12/31/24   Acquisition   109
  110   Starbucks                                   1,697    03/31/16   Refinance     110
  111                                                                   Refinance     111
  112                                                                   Refinance     112
  113                                                                   Refinance     113
  114                                                                   Refinance     114
  115   Sperry Van Ness                             1,532    01/31/10   Acquisition   115
  116   Hayt, Hayt & Landau                        10,073    12/18/11   Acquisition   116
  117                                                                   Acquisition   117
  118   Basic Energy                               30,951    01/31/10   Refinance     118
  119   The Boeing Co.                              8,338    03/31/08   Refinance     119
  120                                                                   Refinance     120
  121   Chick Fil A                                 4,288    11/15/21   Refinance     121
  122   Little Futures Daycare                      6,924    01/31/09   Refinance     122
  123   Computer Plus                               3,230    05/31/12   Acquisition   123
  124                                                                   Refinance     124
  125                                                                   Refinance     125
  126                                                                   Refinance     126
  127                                                                   Refinance     127
  128                                                                   Refinance     128
  129                                                                   Refinance     129
  130                                                                   Refinance     130
  131   Rancheros Mexican Restaurant                6,000    03/31/10   Refinance     131
  132   Big Lots                                   34,500    01/31/12   Acquisition   132
  133                                                                   Refinance     133
  134                                                                   Refinance     134
  135                                                                   Refinance     135
  136                                                                   Refinance     136
  137                                                                   Refinance     137
  138                                                                   Refinance     138
  139                                                                   Refinance     139
  140   Sil Jeong Taekwondo                         2,115    01/31/12   Refinance     140
  141   Miel Patisserie                             6,000    12/31/21   Refinance     141
  142   Spice                                      12,750    01/31/08   Acquisition   142
  143                                                                   Refinance     143
  144                                                                   Refinance     144
  145                                                                   Refinance     145
  146                                                                   Refinance     146
  147                                                                   Refinance     147
  148                                                                   Refinance     148
  149                                                                   Refinance     149
  150   Jo-Ann's                                   11,714    01/31/12   Refinance     150
  151                                                                   Refinance     151
  152   Sprint                                      2,732    12/21/11   Refinance     152
  153   My Gym                                      4,000    04/30/07   Refinance     153
  154                                                                   Refinance     154
  155                                                                   Refinance     155
155.01                                                                  Refinance    155.01
155.02                                                                  Refinance    155.02
  156   Booth Udall                                 2,318    03/31/12   Acquisition   156
  157                                                                   Refinance     157
  158                                                                   Refinance     158
  159                                                                   Refinance     159
159.01  Scott M. Schweiger                          1,000    01/31/08   Refinance    159.01
159.02                                                                  Refinance    159.02
159.03                                                                  Refinance    159.03
  160   American Tax Center                         5,000    06/30/16   Refinance     160
  161                                                                   Refinance     161
  162                                                                   Refinance     162
  163                                                                   Refinance     163
  164                                                                   Refinance     164
  165                                                                   Refinance     165
  166   Mountaintop Family Health                   4,000    02/01/17   Refinance     166
  167                                                                   Refinance     167
  168   Skillman, Boyle, et al                      6,568    06/30/12   Refinance     168
  169   Mattress Outlet                            11,740    10/31/07   Refinance     169
  170                                                                   Refinance     170
  171                                                                   Refinance     171
  172                                                                   Refinance     172
  173   Jarir Bookstore                             2,905    06/30/11   Refinance     173
  174                                                                   Refinance     174
  175   Tower Rental                                4,771    10/31/08   Acquisition   175
  176                                                                   Refinance     176
  177   CA Dynamites Gymnastics                    11,531    10/31/10   Refinance     177
  178   Suffolk County Police                       9,998    10/31/16   Refinance     178
  179                                                                   Acquisition   179
  180                                                                   Refinance     180
  181   Jiu Jitsu International                     2,803    09/30/14   Refinance     181
  182                                                                   Refinance     182
  183                                                                   Refinance     183
  184                                                                   Refinance     184
  185   Dragon Express                              3,200    03/31/10   Acquisition   185
  186   CreditBack, Inc.                            5,715    06/30/07   Acquisition   186
  187                                                                   Refinance     187
  188   Harbor Freight Tools                       12,000    09/30/13   Refinance     188
  189                                                                   Acquisition   189
  190                                                                   Refinance     190
  191   Hoosier Cafe                                2,213    07/31/12   Acquisition   191
  192                                                                   Acquisition   192
  193                                                                   Refinance     193
193.01  Big Cheese Pizzeria                         2,276    03/31/11   Refinance    193.01
193.02                                                                  Refinance    193.02
  194                                                                   Refinance     194
  195                                                                   Refinance     195
  196                                                                   Refinance     196
  197                                                                   Refinance     197
  198                                                                   Acquisition   198
  199   State of Texas                              7,195    12/31/11   Acquisition   199
  200                                                                   Refinance     200
  201                                                                   Refinance     201
  202                                                                   Refinance     202
  203                                                                   Refinance     203
  204                                                                   Acquisition   204
  205                                                                   Refinance     205
  206                                                                   Refinance     206
206.01                                                                  Refinance    206.01
206.02                                                                  Refinance    206.02
  207                                                                   Refinance     207
  208                                                                   Acquisition   208
  209                                                                   Refinance     209
  210                                                                   Refinance     210
  211   Secure Financial Services                   1,978    12/31/09   Refinance     211
  212   Factory 2 U                                21,948    08/31/10   Refinance     212
  213   Rainbow Store                               7,424    01/31/11   Refinance     213
  214   Ray Financial                               4,365    12/01/09   Acquisition   214
  215                                                                   Acquisition   215
  216                                                                   Refinance     216
  217   US Armed Forces                             3,360    12/31/07   Refinance     217
  218                                                                   Refinance     218
  219                                                                   Refinance     219
  220   Countrywide Home Loans                      1,990    09/30/09   Refinance     220
  221                                                                   Refinance     221
  222                                                                   Refinance     222
  223                                                                   Acquisition   223
  224                                                                   Refinance     224
  225                                                                   Refinance     225
  226                                                                   Acquisition   226
  227   Sears                                       7,626    03/31/08   Acquisition   227
  228   Liquor World                                1,750    06/30/11   Refinance     228
  229                                                                   Refinance     229
  230                                                                   Refinance     230
  231                                                                   Refinance     231
  232                                                                   Refinance     232
  233   Polonia Deli                                3,598    06/30/11   Refinance     233
  234                                                                   Refinance     234
  235                                                                   Acquisition   235
  236                                                                   Refinance     236
  237   Starbucks                                   1,600    12/31/11   Refinance     237
  238                                                                   Refinance     238
  239   Michigan Sign Center                        8,000    09/30/07   Refinance     239
  240   Darque Tan                                  1,500    06/30/08   Refinance     240
  241   Chinar                                      3,660    11/30/13   Refinance     241
  242                                                                   Acquisition   242

FOOTNOTES TO ANNEX A-1

(1)  With respect to cross-collateralized and cross-defaulted mortgage loans,
     the UW DSCR, Current LTV % and Maturity LTV % are calculated on an
     aggregate basis.

(2)  For Mortgage Loans secured by multiple Mortgaged Properties, each Mortgage
     Loan's Original Balance ($), Current Balance ($), and Maturity Balance ($)
     is allocated to the respective Mortgaged Property based on the Mortgage
     Loan documentation or the Mortgage Loan Seller's determination of the
     appropriate allocation.

(3)  For each Mortgage Loan, the excess of the related Interest Rate over the
     related Servicing Fee Rate and the Trustee Fee Rate (together, the "Admin
     Fee").

(4)  For Mortgage Loans that are Interest-Only for their entire term, the
     Monthly Debt Service was calculated as 1/12th of the product of (i) the
     Original Balance, (ii) the Interest Rate and (iii) 365/360.

(5)  Annual Debt Service is calculated by multiplying the Monthly Debt Service
     by 12.

(6)  For Mortgage Loans with an Interest-Only period, the I/O Period reflects
     the initial Interest-Only period as of the respective Note Date of the
     Mortgage Loan.

(7)  Each letter identifies a group of crossed loans.

(8)  Each Number identifies a group of related borrowers with respect to the
     mortgage loans.

(9)  The "L" component of the prepayment provision represents remaining lockout
     payments. The "Def" component of the prepayment provision represents
     remaining defeasance payments.

(10) With respect to Loan Numbers 1, 4, 16, 23, 87, 96 and 123, the "L"
     component and the "Def" component of the prepayment provision could in some
     cases be impacted by the timing of the securitization of the associated
     pari-passu portion or B-note.

     The UW DSCR for all partial interest-only loans was calculated based on the
     first principal and interest payment made after the Closing Date during the
     term of the loan.

(11) Represents the amount deposited by the borrower at origination. All or a
     portion of this amount may have been released pursuant to the terms of the
     related loan documents.

(12) Represents the monthly amounts required to be deposited by the borrower.
     The amount required to be deposited in such account may be capped pursuant
     to the loan documents.

(13) For Mortgage Loans that have a first payment date in July 2007 the
     applicable Mortgage Loan Seller will remit to the Trustee an amount that
     will be sufficient to cover the interest shortfall that would otherwise
     occur on the first Distribution Date.

(14) With respect to Loan Numbers 2 ($111,100,000 "as is" value), 6 ($73,700,000
     "as is" value), 8 ($56,800,000 "as is" value), 9 ($47,800,000 "as is"
     value), 11 ($49,100,000 "as is" value), 22 ($38,000,000 "as is" value), 27
     ($34,100,000 "as is" value), 29 ($29,200,000 "as is" value), 31
     ($31,000,000 "as is" value), 34 ($28,000,000 "as is" value), 41
     ($26,400,000 "as is" value), 42 ($24,060,000 "as is" value), 51
     ($20,150,000 "as is" value), 55 ($16,500,000 "as is" value), 61
     ($18,300,000 "as is" value), 78 ($16,900,000 "as is" value), 79
     ($17,150,000 "as is" value), 83 ($14,500,000 "as is" value), 92
     ($12,900,000 "as is" value), 105 ($11,000,000 "as is" value), 106
     ($12,250,000 "as is" value), 110 ($21,700,000 "as is" value), 122
     ($8,600,000 "as is" value), 127 ($11,200,000 "as is" value), 130
     ($9,200,000 "as is" value), 186 ($6,250,000 "as is" value), 189 ($5,040,000
     "as is" value), and 228 ($3,950,000 "as is" value) the appraisal values and
     appraisal dates are reflective of the as-stablized values defined in the
     respective appraisals.

(15) With respect to Loan Number 162, the UW DSCR was calculated net of an
     $800,000 Letter of Credit in making such calculation.

(16) With respect to Loan Number 229, the number of units presented does not
     include the retail portion of the collateral.

(17) With respect to Loan Number 57, if the sole tenant at the mortgaged
     property exercises its right to purchase the mortgaged property under its
     lease prior to the expiration of the defeasance lockout period, the
     Borrower may prepay the loan together with the payment of a Yield
     Maintenance Charge (as defined in the related Mortgage Loan documents) and
     all other sums due under the loan documents. The tenant's right under its
     lease to purchase the mortgaged property shall be triggered upon the
     occurrence of certain reductions in the financial condition of such tenant.

(18) With respect to Loan Numbers 12 and 13, the Occupancy (%) is presented as a
     weighted average based on the allocated square footage of each property in
     the portfolio.

(19) With respect Loan Number 41, The Mortgagor has agreed to pay the owner of
     an adjacent property $1,000,000, and to construct certain parking
     facilities on the adjacent property, in consideration for the termination
     of an easement agreement that burdens the Mortgaged Property; the
     effectiveness of that agreement is conditioned upon the adjacent property
     owner receiving the consent of its mortgage lender. $200,000 of the payment
     has been deposited as a reserve with the holder of the Mortgage Loan; the
     proceeds of the Stabilization Reserve established in the Mortgage will be
     used to pay for the remaining obligations.

(20) With respect to Loan Number 33, a mortgage secured by multiple properties,
     the Year Built presented is a weighted average calculation based on the
     number of beds located at each property.

(21) With respect to Loan Number 7, in addition to the leasehold interest, the
     mortgaged property is secured by the borrower's fee interest in two
     condominium units (Unit HG (Hotel Garage) and Unit H (Hotel)) in a
     three-unit condominium.

(22) With respect to Loan Number 3, the "as is" Appraised Value is
     representative of the Fee and Leased Fee interest in the property.

(23) With respect to Loan Number 108, the total units presented does not include
     the condominium portion of the collateral (55 units).

[THIS PAGE INTENTIONALLY LEFT BLANK.]

ANNEX A-2

CERTAIN POOL CHARACTERISTICS OF THE MORTGAGE
LOANS AND MORTGAGED PROPERTIES

[THIS PAGE INTENTIONALLY LEFT BLANK.]

                                                                       ANNEX A-2

                              CUT-OFF DATE BALANCES



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING             DATE    LTV RATIO
                                 MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
CUT-OFF DATE BALANCES             LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------

    $997,779 -   $2,999,999         11      $   27,079,137      0.8%    5.8587%      118      1.27x    72.0%      63.9%
  $3,000,000 -   $3,999,999         17          60,220,496      1.8     5.8406       113      1.36x    72.6%      65.4%
  $4,000,000 -   $4,999,999         27         119,074,623      3.6     5.8122       119      1.37x    71.1%      63.4%
  $5,000,000 -   $6,999,999         49         288,120,268      8.8     5.8631       117      1.35x    72.5%      65.2%
  $7,000,000 -   $9,999,999         40         339,104,802     10.3     5.7844       112      1.32x    73.1%      67.6%
 $10,000,000 -  $14,999,999         32         393,397,024     12.0     5.7995       116      1.29x    75.8%      69.9%
 $15,000,000 -  $24,999,999         35         641,816,277     19.5     5.8514       115      1.25x    74.9%      69.6%
 $25,000,000 -  $49,999,999         25         823,493,877     25.0     5.7330       120      1.36x    73.9%      68.0%
 $50,000,000 -  $99,999,999          4         261,500,000      8.0     5.8724        98      1.38x    74.7%      72.2%
$100,000,000 - $225,000,000          2         335,000,000     10.2     5.4741       117      1.26x    76.2%      76.2%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================


                                 MORTGAGE RATES



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
                                 MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
MORTGAGE RATES                    LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

5.3960% - 5.4999%                    4      $  377,000,000     11.5%    5.4666%      116      1.37x    75.7%      75.7%
5.5000% - 5.7499%                   96       1,325,647,901     40.3     5.6608       118      1.32x    73.8%      68.9%
5.7500% - 5.9999%                  114       1,261,955,842     38.4     5.8452       114      1.31x    75.1%      70.1%
6.0000% - 6.2499%                   17         200,620,480      6.1     6.1433       112      1.26x    70.4%      57.0%
6.2500% - 6.4999%                    6          78,453,697      2.4     6.3892       109      1.32x    72.0%      64.0%
6.5000% - 7.6000%                    5          45,128,584      1.4     6.7726        93      1.33x    72.7%      62.3%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================


                       ORIGINAL TERM TO MATURITY IN MONTHS



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
ORIGINAL TERM TO                 MORTGAGE        DATE          POOL    MORTGAGE      TERM      UW       LTV         AT
MATURITY IN MONTHS                LOANS         BALANCE      BALANCE     RATE       (MOS.)    DSCR     RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

 60 -  72                           11      $  170,137,043      5.2%    6.1082%       59      1.30x    69.6%      66.2%
 73 -  84                            2          68,960,000      2.1     5.8630        82      1.39x    80.0%      79.7%
 85 - 120                          227       3,018,427,019     91.8     5.7474       118      1.32x    74.5%      69.7%
121 - 240                            2          31,282,442      1.0     6.0433       221      1.40x    68.4%      12.2%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================



                                   Annex A-2-1



                      REMAINING TERM TO MATURITY IN MONTHS



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
REMAINING TERM TO                MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
MATURITY IN MONTHS                LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

 56 -  60                           11      $  170,137,043      5.2%    6.1082%       59      1.30x    69.6%      66.2%
 61 -  84                            2          68,960,000      2.1     5.8630        82      1.39x    80.0%      79.7%
 85 - 120                          227       3,018,427,019     91.8     5.7474       118      1.32x    74.5%      69.7%
121 - 238                            2          31,282,442      1.0     6.0433       221      1.40x    68.4%      12.2%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================


                     ORIGINAL AMORTIZATION TERM IN MONTHS(1)



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
ORIGINAL AMORTIZATION            MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
TERM IN MONTHS                    LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

240 - 240                            3      $   66,964,671      3.4%    5.8760%      164      1.35x    54.8%      19.7%
241 - 300                           13         125,544,085      6.3     5.8151       106      1.32x    73.2%      58.5%
301 - 360                          162       1,794,741,747     90.3     5.8475       114      1.26x    73.9%      66.9%
                                -----------------------------------------------------------------------------------------
TOTAL:                             178      $1,987,250,504    100.0%    5.8464%      116      1.27x    73.2%      64.8%
                                =========================================================================================


                    REMAINING AMORTIZATION TERM IN MONTHS(1)



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
REMAINING AMORTIZATION           MORTGAGE        DATE          POOL    MORTGAGE      TERM      UW       LTV         AT
TERM IN MONTHS                    LOANS         BALANCE      BALANCE     RATE       (MOS.)    DSCR     RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

238 - 240                            3      $   66,964,671      3.4%    5.8760%      164      1.35x    54.8%      19.7%
241 - 300                           13         125,544,085      6.3     5.8151       106      1.32x    73.2%      58.5%
301 - 360                          162       1,794,741,747     90.3     5.8475       114      1.26x    73.9%      66.9%
                                -----------------------------------------------------------------------------------------
TOTAL:                             178      $1,987,250,504    100.0%    5.8464%      116      1.27x    73.2%      64.8%
                                =========================================================================================


(1)  Does not include the mortgage loans that are interest-only for their entire
     term.


                                   Annex A-2-2



                               AMORTIZATION TYPES



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
                                 MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
AMORTIZATION TYPES                LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

BALLOON LOANS
Partial Interest-Only              116      $1,384,650,000     42.1%    5.8091%      116      1.24x    74.8%      68.6%
Interest-Only                       64       1,301,556,000     39.6     5.6567       115      1.39x    75.9%      75.9%
Balloon                             61         576,707,886     17.5     5.9256       109      1.32x    69.9%      58.5%
                                -----------------------------------------------------------------------------------------
TOTAL:                             241      $3,262,913,886     99.2%    5.7689%      114      1.32x    74.4%      69.7%
                                =========================================================================================

FULLY AMORTIZING LOANS               1      $   25,892,618      0.8%    6.0800%      238      1.45x    66.2%       1.6%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================


               UNDERWRITTEN CASH FLOW DEBT SERVICE COVERAGE RATIOS



                                                                                         WEIGHTED AVERAGES
                                                                       --------------------------------------------------
UNDERWRITTEN                                   AGGREGATE       % OF                 STATED            CUT-OFF
Cash Flow                       NUMBER OF       CUT-OFF      INITIAL              REMAINING             DATE    LTV RATIO
Debt Service                     MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
Coverage Ratios                   LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

1.06X - 1.09X                        1      $   18,000,000      0.5%    5.8400%      117      1.06x    70.3%      63.4%
1.10X - 1.14X                        4          52,641,044      1.6     5.8148       118      1.12x    77.3%      71.0%
1.15X - 1.19X                       46         517,367,207     15.7     5.8516       115      1.17x    75.7%      68.5%
1.20X - 1.29X                       86       1,393,114,594     42.4     5.7125       116      1.24x    75.3%      70.6%
1.30X - 1.49X                       73         998,098,691     30.3     5.8164       114      1.39x    74.2%      69.2%
1.50X - 1.99X                       29         260,984,968      7.9     5.7994       115      1.64x    66.6%      62.8%
2.00X - 2.76X                        3          48,600,000      1.5     5.4541       108      2.19x    70.4%      70.4%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================


                             CUT-OFF DATE LTV RATIOS



                                                                                        WEIGHTED AVERAGES
                                                                       --------------------------------------------------
                                               AGGREGATE       % OF                 STATED            CUT-OFF
                                NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE     LTV RATIO
CUT-OFF DATE                     MORTGAGE        DATE          POOL    MORTGAGE      TERM       UW      LTV         AT
LTV RATIOS                        LOANS         BALANCE      BALANCE     RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------

32.0% - 50.0%                        7      $   69,797,821      2.1%    5.6908%      118      1.43x    42.3%      32.0%
50.1% - 60.0%                       12          89,694,131      2.7     5.7067       119      1.58x    54.3%      50.4%
60.1% - 65.0%                       10         122,276,105      3.7     5.9249        81      1.37x    63.6%      59.2%
65.1% - 70.0%                       27         330,240,665     10.0     5.8617       126      1.35x    67.9%      57.1%
70.1% - 75.0%                       51         760,846,876     23.1     5.7737       116      1.30x    73.7%      68.9%
75.1% - 80.1%                      135       1,915,950,906     58.3     5.7510       115      1.30x    78.4%      74.2%
                                -----------------------------------------------------------------------------------------
TOTAL:                             242      $3,288,806,504    100.0%    5.7713%      115      1.32x    74.3%      69.2%
                                =========================================================================================



                                   Annex A-2-3



                           MATURITY DATE LTV RATIOS(1)



                                                                                        WEIGHTED AVERAGES
                                                                        -------------------------------------------------
                                                AGGREGATE       % OF                 STATED           CUT-OFF
                                 NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE    LTV RATIO
MATURITY DATE                     MORTGAGE        DATE          POOL    MORTGAGE      TERM      UW      LTV         AT
LTV RATIOS                         LOANS         BALANCE      BALANCE     RATE       (MOS.)    DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------

26.9% - 50.0%                        17      $  124,110,007      3.8%    5.7433%      118      1.50x    49.0%      38.9%
50.1% - 60.0%                        29         288,391,358      8.8     5.7853       117      1.35x    66.8%      57.0%
60.1% - 65.0%                        29         370,248,561     11.3     5.9127       107      1.29x    69.9%      62.4%
65.1% - 70.0%                        52         495,143,807     15.2     5.8402       112      1.27x    74.7%      67.7%
70.1% - 75.0%                        68       1,137,946,153     34.9     5.7562       116      1.26x    77.1%      72.9%
75.1% - 80.0%                        46         847,074,000     26.0     5.6796       115      1.39x    78.7%      78.6%
                                 ----------------------------------------------------------------------------------------
TOTAL:                              241      $3,262,913,886    100.0%    5.7689%      114      1.32x    74.3%      69.7%
                                 ========================================================================================


                         TYPE OF MORTGAGED PROPERTIES(2)



                                                                                 WEIGHTED AVERAGES
                                                                            --------------------------
                                                    AGGREGATE       % OF           CUT-OFF
                                     NUMBER OF       CUT-OFF      INITIAL            DATE
                                     MORTGAGED        DATE          POOL     UW      LTV
PROPERTY TYPE                       PROPERTIES       BALANCE      BALANCE   DSCR    RATIO    OCCUPANCY
------------------------------------------------------------------------------------------------------

RETAIL
Anchored                                 53      $  775,151,472     23.6%   1.28x   75.2%       95.1%
Unanchored                               23         147,800,777      4.5    1.26x   73.6%       95.1%
Shadow Anchored                           6          32,633,000      1.0    1.18x   76.9%       92.8%
                                    ------------------------------------------------------------------
SUBTOTAL:                                82      $  955,585,249     29.1%   1.27x   75.0%       95.0%

OFFICE
Suburban                                 51      $  537,576,053     16.3%   1.26x   76.5%       95.2%
CBD                                       6         283,017,000      8.6    1.29x   73.0%       95.9%
                                    ------------------------------------------------------------------
SUBTOTAL:                                57      $  820,593,053     25.0%   1.27x   75.3%       95.5%

HOTEL
Full Service                             12      $  320,581,520      9.7%   1.40x   71.6%        NAP
Limited Service                          14         106,491,835      3.2    1.64x   70.4%        NAP
                                    ------------------------------------------------------------------
SUBTOTAL:                                26      $  427,073,355     13.0%   1.46x   71.3%        NAP

MULTIFAMILY
Garden                                   35      $  322,274,536      9.8%   1.23x   72.5%       93.2%
Mid/High Rise                             4          47,000,000      1.4    1.36x   76.2%       96.0%
Student Housing                           1          24,700,000      0.8    1.21x   77.9%       94.2%
                                    ------------------------------------------------------------------
SUBTOTAL:                                40      $  393,974,536     12.0%   1.24x   73.3%       93.6%

INDUSTRIAL
Warehouse/Distribution                   34      $  171,592,313      5.2%   1.54x   73.6%       95.3%
Flex                                     33         144,896,595      4.4    1.40x   74.2%       98.8%
                                    ------------------------------------------------------------------
SUBTOTAL:                                67      $  316,488,908      9.6%   1.47x   73.9%       96.9%

MANUFACTURED HOUSING                     23      $  198,262,000      6.0%   1.38x   77.7%       95.4%

MIXED USE
Office/Retail                             8      $   85,805,209      2.6%   1.24x   71.7%       94.0%
Multifamily/Retail                        3          35,500,000      1.1    1.25x   70.9%       96.5%
Manufactured Housing/Self Storage         1           3,472,000      0.1    1.39x   79.0%       95.6%
                                    ------------------------------------------------------------------
SUBTOTAL:                                12      $  124,777,209      3.8%   1.24x   71.7%       94.8%

SELF STORAGE                              7      $   48,402,194      1.5%   1.30x   72.7%       89.5%

PARKING GARAGE                            1      $    3,650,000      0.1%   1.21x   74.5%      100.0%
                                    ------------------------------------------------------------------
TOTAL:                                  315      $3,288,806,504    100.0%   1.32x   74.3%       95.1%
                                    ==================================================================


(1)  Does not include fully amortizing loans

(2)  Because this table is presented at the Mortgaged Property level, certain
     information is based on allocated loan amounts for mortgage loans secured
     by more than one Mortgaged Property. As a result, the weighted averages
     presented in this table may deviate slightly from weighted averages
     presented at the mortgage loan level in other tables in this free writing
     prospectus.


                                   Annex A-2-4



                       MORTGAGED PROPERTIES BY LOCATION(1)



                                                                                         WEIGHTED AVERAGES
                                                                         -------------------------------------------------
                                                 AGGREGATE       % OF                 STATED           CUT-OFF
                                  NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE    LTV RATIO
                                  MORTGAGED        DATE          POOL    MORTGAGE     TERM       UW      LTV        AT
LOCATION                         PROPERTIES       BALANCE      BALANCE     RATE       (MOS.)    DSCR    RATIO     MATURITY
--------------------------------------------------------------------------------------------------------------------------

New York                              17      $  406,122,000     12.3%    5.6254%      118      1.29x   74.4%      72.9%
Texas                                 31         347,221,986     10.6     5.8550       115      1.27x   76.5%      70.7%
Pennsylvania                          24         309,672,000      9.4     5.7750       111      1.31x   78.1%      74.4%
Illinois                              20         290,341,898      8.8     5.8944       103      1.34x   75.7%      73.5%
Florida                               14         279,815,222      8.5     5.6491       115      1.34x   76.7%      73.9%
California                            20         225,094,328      6.8     5.7302       119      1.25x   73.6%      70.0%
Arizona                               11         140,355,144      4.3     5.9317       111      1.31x   72.9%      68.6%
New Jersey                            14         136,338,284      4.1     5.7800       119      1.31x   65.7%      58.0%
Ohio                                  12         121,223,264      3.7     5.8723       117      1.29x   70.7%      64.4%
Massachusetts                         11         103,258,568      3.1     5.7542       109      1.27x   71.3%      65.0%
Utah                                  11          96,704,210      2.9     5.6983       118      1.27x   76.4%      62.4%
Indiana                               14          93,380,000      2.8     5.6715       117      1.28x   78.4%      72.1%
Tennessee                              7          89,844,000      2.7     5.7760       119      1.54x   73.3%      73.2%
Colorado                               5          74,270,000      2.3     5.7233       118      1.35x   68.4%      62.0%
Michigan                              21          70,048,889      2.1     5.7668       118      1.26x   78.3%      72.1%
Connecticut                            3          62,848,460      1.9     5.9148       117      1.39x   72.8%      63.0%
Maryland                               9          62,537,913      1.9     5.7822       113      1.25x   72.2%      66.4%
Kentucky                               7          38,621,581      1.2     5.9323       115      1.30x   74.9%      65.5%
South Carolina                         3          37,130,718      1.1     6.2693       202      1.43x   70.3%      22.0%
North Carolina                         9          36,046,437      1.1     5.7289       119      1.44x   72.5%      61.2%
Louisiana                              5          35,481,072      1.1     5.7126       119      1.34x   71.8%      66.0%
Georgia                               10          34,790,775      1.1     5.7621        99      1.43x   72.1%      67.6%
Virginia                               4          27,551,776      0.8     5.6516       117      1.31x   69.3%      67.5%
Oklahoma                               2          25,100,000      0.8     5.7619       119      1.33x   78.1%      75.1%
Washington                             4          21,704,417      0.7     5.6533       117      1.40x   73.6%      65.0%
Delaware                               2          17,400,000      0.5     5.7181       117      1.24x   76.8%      69.0%
Mississippi                            3          15,058,000      0.5     5.9167       117      1.63x   58.5%      49.7%
North Dakota                           3          12,350,000      0.4     5.6314       118      1.65x   70.5%      70.5%
Wisconsin                              2          11,018,800      0.3     5.8922        63      1.32x   71.8%      69.5%
Missouri                               2          10,072,392      0.3     5.7417       118      1.15x   78.5%      69.4%
Oregon                                 2           9,818,100      0.3     5.7163       117      1.31x   75.2%      70.8%
Nevada                                 1           9,000,000      0.3     5.7500       118      1.53x   35.7%      31.5%
Kansas                                 2           8,172,600      0.2     5.6779       116      1.31x   79.4%      74.7%
Nebraska                               1           7,743,368      0.2     5.8775       119      1.53x   74.8%      63.3%
Minnesota                              2           7,600,000      0.2     5.6422       118      1.65x   66.5%      66.5%
Arkansas                               3           4,672,100      0.1     5.3960       104      2.09x   75.9%      75.9%
West Virginia                          1           4,500,000      0.1     5.7355       120      1.38x   73.8%      66.3%
District Of Columbia                   1           3,960,000      0.1     6.2400        84      1.41x   80.0%      75.1%
Idaho                                  1           1,278,200      0.0     5.3960       104      2.09x   75.9%      75.9%
Iowa                                   1             660,000      0.0     5.3960       104      2.09x   75.9%      75.9%
                                 -----------------------------------------------------------------------------------------
TOTAL:                               315      $3,288,806,504    100.0%    5.7713%      115      1.32x   74.3%      69.2%
                                 =========================================================================================


(1)  Because this table is presented at the Mortgaged Property level, certain
     information is based on allocated loan amounts for mortgage loans secured
     by more than one Mortgaged Property. As a result, the weighted averages
     presented in this table may deviate slightly from weighted averages
     presented at the mortgage loan level in other tables in this free writing
     prospectus.


                                   Annex A-2-5



                          YEARS BUILT/RENOVATED(1),(2)



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                                 AGGREGATE        % OF                 STATED            CUT-OFF
                                  NUMBER OF       CUT-OFF       INITIAL               REMAINING            DATE    LTV RATIO
YEARS                             MORTGAGED        DATE          POOL      MORTGAGE     TERM       UW      LTV        AT
BUILT/RENOVATED                  PROPERTIES       BALANCE       BALANCE      RATE      (MOS.)     DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

   1952 -   1959                       3      $   22,630,000       0.7%     5.7242%      118      1.51x   75.3%      75.3%
   1960 -   1969                      14          87,550,913       2.7      5.7211       118      1.33x   76.4%      74.9%
   1970 -   1979                      22         160,804,700       4.9      5.7241       118      1.36x   74.5%      71.5%
   1980 -   1989                      34         453,830,282      13.8      5.6363       116      1.28x   74.7%      72.1%
   1990 -   1999                      76         642,204,969      19.5      5.7813       112      1.34x   74.3%      70.7%
   2000 -   2007                     166       1,921,785,639      58.4      5.8067       116      1.31x   74.1%      67.5%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               315      $3,288,806,504     100.0%     5.7713%      115      1.32x   74.3%      69.2%
                                 ===========================================================================================


                              PREPAYMENT PROTECTION



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                                 AGGREGATE        % OF                  STATED           CUT-OFF
                                  NUMBER OF       CUT-OFF       INITIAL               REMAINING           DATE     LTV RATIO
PREPAYMENT                        MORTGAGE         DATE           POOL     MORTGAGE      TERM      UW      LTV         AT
PROTECTION                          LOANS         BALANCE       BALANCE      RATE       (MOS.)    DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

Defeasance                           205      $2,889,973,477      87.9%     5.7569%      116      1.32x   74.5%      69.5%
Yield Maintenance                     26         214,858,369       6.5      5.8805       112      1.30x   72.5%      66.3%
Yield Maintenance, Def/YM              1          85,000,000       2.6      5.7985       118      1.23x   77.3%      72.1%
Defeasance, Def/YM                     4          37,692,112       1.1      5.8396       118      1.52x   67.4%      63.1%
Defeasance, Def/Fixed Penalty          3          35,963,123       1.1      5.9060       118      1.34x   71.1%      65.4%
Yield Maintenance, Fixed
   Penalty                             2          15,569,422       0.5      6.2063        89      1.34x   71.9%      66.0%
Defeasance, Fixed Penalty              1           9,750,000       0.3      5.9600        56      1.19x   61.3%      59.1%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               242      $3,288,806,504     100.0%     5.7713%      115      1.32x   74.3%      69.2%
                                 ===========================================================================================


                          PARTIAL INTEREST ONLY PERIODS



                                                                                        WEIGHTED AVERAGES
                                                                        -------------------------------------------------
                                                AGGREGATE       % OF                 STATED           CUT-OFF
                                 NUMBER OF       CUT-OFF      INITIAL              REMAINING            DATE    LTV RATIO
PARTIAL INTEREST                 MORTGAGE         DATE          POOL    MORTGAGE     TERM       UW      LTV        AT
ONLY PERIODS                       LOANS         BALANCE      BALANCE     RATE      (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------

   12 - 12                            4      $   40,544,000      2.9%    5.9207%      107      1.17x   74.8%      65.7%
   13 - 24                           24         240,253,000     17.4     5.8453       112      1.26x   70.4%      62.6%
   25 - 36                           34         316,123,000     22.8     5.7971       115      1.23x   76.0%      68.6%
   37 - 48                            2          23,850,000      1.7     5.8579       120      1.18x   76.9%      70.6%
   49 - 84                           52         763,880,000     55.2     5.7952       118      1.25x   75.6%      70.6%
                                 ----------------------------------------------------------------------------------------
                                    116      $1,384,650,000    100.0%    5.8091%      116      1.24x   74.8%      68.6%
                                 ========================================================================================


(1)  Range of Years Built/Renovated references the earlier of the year built or
     with respect to renovated properties, the year of the most recent
     renovation date with respect to each Mortgaged Property.

(2)  Because this table is presented at the Mortgaged Property level, certain
     information is based on allocated loan amounts for mortgage loans secured
     by more than one Mortgaged Property. As a result, the weighted averages
     presented in this table may deviate slightly from weighted averages
     presented at the mortgage loan level in other tables in this free writing
     prospectus.


                                   Annex A-2-6



                                                                       ANNEX A-2

              CUT-OFF DATE BALANCES FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING            DATE     LTV RATIO
                                  MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
CUT-OFF DATE BALANCES              LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

    $997,779 -   $2,999,999           8      $   19,174,746         0.7%      5.8615%      118      1.26x     73.2%      64.4%
  $3,000,000 -   $3,999,999          11          39,837,496         1.5       5.8338       118      1.37x     69.8%      60.7%
  $4,000,000 -   $4,999,999          20          88,674,623         3.3       5.8396       119      1.38x     69.7%      60.8%
  $5,000,000 -   $6,999,999          37         216,715,447         8.0       5.8792       117      1.35x     71.0%      62.2%
  $7,000,000 -   $9,999,999          29         251,348,802         9.3       5.7722       112      1.34x     72.2%      66.0%
 $10,000,000 -  $14,999,999          27         334,513,024        12.4       5.7976       116      1.29x     75.2%      68.6%
 $15,000,000 -  $24,999,999          24         449,866,277        16.7       5.8868       114      1.26x     74.4%      67.9%
 $25,000,000 -  $49,999,999          21         696,467,554        25.9       5.7496       120      1.37x     74.9%      69.0%
 $50,000,000 -  $99,999,999           4         261,500,000         9.7       5.8724        98      1.38x     74.7%      72.2%
$100,000,000 - $225,000,000           2         335,000,000        12.4       5.4741       117      1.26x     76.2%      76.2%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ==============================================================================================


                 MORTGAGE RATES FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
                                  MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
MORTGAGE RATES                     LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

5.3960% - 5.4999%                     4      $  377,000,000        14.0%      5.4666%      116      1.37x     75.7%      75.7%
5.5000% - 5.7499%                    73       1,029,813,578        38.2       5.6678       118      1.32x     74.2%      69.0%
5.7500% - 5.9999%                    83       1,008,140,842        37.4       5.8515       113      1.31x     74.7%      68.9%
6.0000% - 6.4999%                    18         233,014,964         8.7       6.2086       112      1.30x     69.7%      56.5%
6.5000% - 7.6000%                     5          45,128,584         1.7       6.7726        93      1.33x     72.7%      62.3%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ==============================================================================================


       ORIGINAL TERM TO MATURITY IN MONTHS FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
ORIGINAL TERM TO                 MORTGAGE         DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
MATURITY IN MONTHS                 LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

 60 -  72                             9      $  159,626,043         5.9%      6.1091%       59      1.31x     69.2%      65.7%
 73 -  84                             1          65,000,000         2.4       5.8400        82      1.39x     80.0%      80.0%
 85 - 120                           171       2,437,189,483        90.5       5.7465       118      1.32x     74.4%      69.3%
121 - 240                             2          31,282,442         1.2       6.0433       221      1.40x     68.4%      12.2%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ==============================================================================================



                                   Annex A-2-7



      REMAINING TERM TO MATURITY IN MONTHS FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
REMAINING TERM TO                 MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
MATURITY IN MONTHS                 LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

 56 -  60                             9      $  159,626,043         5.9%      6.1091%       59      1.31x     69.2%      65.7%
 61 -  84                             1          65,000,000         2.4       5.8400        82      1.39x     80.0%      80.0%
 85 - 120                           171       2,437,189,483        90.5       5.7465       118      1.32x     74.4%      69.3%
121 - 238                             2          31,282,442         1.2       6.0433       221      1.40x     68.4%      12.2%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ==============================================================================================


     ORIGINAL AMORTIZATION TERM IN MONTHS FOR LOAN GROUP 1 MORTGAGE LOANS(1)



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
ORIGINAL AMORTIZATION             MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
TERM IN MONTHS                     LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

240 - 240                             2      $   32,118,348         1.9%      6.1711%      215      1.45x     66.9%      10.4%
241 - 300                            13         125,544,085         7.3       5.8151       106      1.32x     73.2%      58.5%
301 - 360                           134       1,553,513,535        90.8       5.8484       114      1.27x     73.6%      66.5%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              149      $1,711,175,968       100.0%      5.8521%      116      1.28x     73.4%      64.9%
                                 ==============================================================================================


    REMAINING AMORTIZATION TERM IN MONTHS FOR LOAN GROUP 1 MORTGAGE LOANS(1)



                                                                                                WEIGHTED AVERAGES
                                                                          -----------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
REMAINING AMORTIZATION            MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
TERM IN MONTHS                     LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

238 - 240                             2      $   32,118,348         1.9%      6.1711%      215      1.45x     66.9%      10.4%
241 - 300                            13         125,544,085         7.3       5.8151       106      1.32x     73.2%      58.5%
301 - 360                           134       1,553,513,535        90.8       5.8484       114      1.27x     73.6%      66.5%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              149      $1,711,175,968       100.0%      5.8521%      116      1.28x     73.4%      64.9%
                                 ==============================================================================================


(1)  Does not include the mortgage loans that are interest-only for their entire
     term.


                                   Annex A-2-8



               AMORTIZATION TYPES FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
                                  MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
AMORTIZATION TYPES                 LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

BALLOON LOANS
Partial Interest-Only                90      $1,153,321,000        42.8%      5.8067%      117      1.25x     74.5%      68.4%
Interest-Only                        34         981,922,000         36.5       5.6371      114      1.40x     75.4%      75.4%
Balloon                              58         531,962,350         19.8       5.9393      108      1.33x     71.5%      60.4%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              182      $2,667,205,350        99.0%      5.7707%      114      1.32x     74.2%      69.4%
FULLY AMORTIZING LOANS                1         $25,892,618         1.0%      6.0800%      238      1.45x     66.2%       1.6%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ==============================================================================================


  UNDERWRITTEN CASH FLOW DEBT SERVICE COVERAGE RATIOS FOR LOAN GROUP 1 MORTGAGE
                                      LOANS



                                                                                                WEIGHTED AVERAGES
                                                                             --------------------------------------------------
UNDERWRITTEN                                    AGGREGATE         % OF                    STATED            CUT-OFF
CASH FLOW                        NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
DEBT SERVICE                      MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
COVERAGE RATIOS                    LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

1.12X - 1.14X                         2      $   34,646,222         1.3%      5.6835%      119      1.12x     77.6%      71.6%
1.15X - 1.19X                        33         420,543,816        15.6       5.8566       116      1.17x     75.8%      68.0%
1.20X - 1.29X                        70       1,164,088,271        43.2       5.7144       116      1.24x     76.1%      71.5%
1.30X - 1.49X                        51         785,534,691        29.2       5.8285       113      1.39x     72.9%      66.8%
1.50X - 1.99X                        24         239,684,968         8.9       5.8140       115      1.64x     66.4%      62.2%
2.00X - 2.76X                         3          48,600,000         1.8       5.4541       108      2.19x     70.4%      70.4%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32X     74.2%      68.7%
                                 ==============================================================================================


             CUT-OFF DATE LTV RATIOS FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                                WEIGHTED AVERAGES
                                                                          -----------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF        INITIAL                 REMAINING             DATE    LTV RATIO
CUT-OFF DATE                      MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
LTV RATIOS                         LOANS         BALANCE        BALANCE        RATE       (MOS.)     DSCR    RATIO     MATURITY
-------------------------------------------------------------------------------------------------------------------------------

32.0% -  50.0%                        5      $   27,951,498         1.0%      5.7416%      117      1.67x     39.8%      34.4%
50.1% -  60.0%                       11          87,094,131         3.2       5.7090       119      1.58x     54.3%      50.3%
60.1% -  65.0%                        9         118,176,105         4.4       5.9296        79      1.37x     63.6%      59.3%
65.1% -  70.0%                       25         307,740,665        11.4       5.8782       126      1.35x     68.0%      56.5%
70.1% -  75.0%                       43         693,647,663        25.8       5.7684       116      1.31x     73.9%      69.1%
75.0% -  80.1%                       90       1,458,487,906        54.2       5.7460       114      1.30x     78.3%      73.6%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ==============================================================================================



                                   Annex A-2-9



           MATURITY DATE LTV RATIOS FOR LOAN GROUP 1 MORTGAGE LOANS(1)



                                                                                              WEIGHTED AVERAGES
                                                                             --------------------------------------------------
                                                AGGREGATE         % OF                    STATED            CUT-OFF
                                 NUMBER OF       CUT-OFF         INITIAL                REMAINING             DATE    LTV RATIO
MATURITY DATE                     MORTGAGE        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV        AT
LTV RATIOS                         LOANS         BALANCE         BALANCE       RATE       (MOS.)     DSCR    RATIO    MATURITY
-------------------------------------------------------------------------------------------------------------------------------

26.9% -  50.0%                       15      $   82,263,684         3.1%      5.7872%      118      1.63x    51.6%      43.2%
50.1% -  60.0%                       27         281,691,358        10.6       5.7866       117      1.34x    67.0%      57.0%
60.1% -  70.0%                       73         796,393,155        29.9       5.8754       110      1.28x    72.8%      65.5%
70.1% -  75.0%                       46         934,077,153        35.0       5.7474       116      1.27x    77.0%      73.1%
75.1% -  80.0%                       21         572,780,000        21.5       5.6529       113      1.40x    78.6%      78.5%
                                 ----------------------------------------------------------------------------------------------
TOTAL:                              182      $2,667,205,350       100.0%      5.7707%      114      1.32x    74.2%      69.4%
                                 ==============================================================================================


         TYPE OF MORTGAGED PROPERTIES FOR LOAN GROUP 1 MORTGAGE LOANS(2)



                                                                                   WEIGHTED AVERAGES
                                                                              ---------------------------
                                                 AGGREGATE         % OF               CUT-OFF
                                  NUMBER OF       CUT-OFF         INITIAL               DATE
                                  MORTGAGED        DATE        LOAN GROUP 1     UW      LTV
PROPERTY TYPE                    PROPERTIES       BALANCE         BALANCE      DSCR    RATIO    OCCUPANCY
---------------------------------------------------------------------------------------------------------

RETAIL
Anchored                              53      $  775,151,472        28.8%     1.28x     75.2%      95.1%
Unanchored                            23         147,800,777         5.5      1.26x     73.6%      95.1%
Shadow Anchored                        6          32,633,000         1.2      1.18x     76.9%      92.8%
                                 ------------------------------------------------------------------------
SUBTOTAL:                             82      $  955,585,249        35.5%     1.27x     75.0%      95.0%

OFFICE
CBD                                    6      $  283,017,000        10.5%     1.29x     73.0%      95.9%
Suburban                              51         537,576,053        20.0      1.26x     76.5%      95.2%
                                 ------------------------------------------------------------------------
SUBTOTAL:                             57        $820,593,053        30.5%     1.27x     75.3%      95.5%

HOTEL
Full Service                          12      $  320,581,520        11.9%     1.40x     71.6%        NAP
Limited Service                       14         106,491,835         4.0      1.64x     70.4%        NAP
                                 ------------------------------------------------------------------------
SUBTOTAL:                             26      $  427,073,355        15.9%     1.46x     71.3%        NAP

INDUSTRIAL
Warehouse/Distribution                34      $  171,592,313         6.4%     1.54x     73.6%      95.3%
Flex                                  33         144,896,595         5.4      1.40x     74.2%      98.8%
                                 ------------------------------------------------------------------------
SUBTOTAL:                             67        $316,488,908        11.8%     1.47x     73.9%      96.9%

MIXED USE
Office/Retail                          8      $   85,805,209         3.2%     1.24x     71.7%      94.0%
Multifamily/Retail                     3          35,500,000         1.3      1.25x     70.9%      96.5%
                                 ------------------------------------------------------------------------
SUBTOTAL:                             11      $  121,305,209         4.5%     1.24x     71.5%      94.8%

SELF STORAGE                           7      $   48,402,194         1.8%     1.30x     72.7%      89.5%

PARKING GARAGE                         1      $    3,650,000         0.1%     1.21x     74.5%     100.0%
                                 ------------------------------------------------------------------------
TOTAL:                               251      $2,693,097,968       100.0%     1.32x     74.2%      95.3%
                                 ========================================================================


(1)  Excludes fully amortizing mortgage loans.

(2)  Because this table is presented at the Mortgaged Property level, certain
     information is based on allocated loan amounts for mortgage loans secured
     by more than one Mortgaged Property. As a result, the weighted averages
     presented in this table may deviate slightly from weighted averages
     presented at the mortgage loan level in other tables in this free writing
     prospectus.


                                  Annex A-2-10



       Mortgaged Properties by Location for Loan Group 1 Mortgage Loans(1)



                                                                                               WEIGHTED AVERAGES
                                                                              --------------------------------------------------
                                                 AGGREGATE         % OF                    STATED            CUT-OFF
                                  NUMBER OF       CUT-OFF         INITIAL                REMAINING             DATE    LTV RATIO
                                  MORTGAGED        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
LOCATION                         PROPERTIES       BALANCE         BALANCE       RATE       (MOS.)     DSCR    RATIO    MATURITY
--------------------------------------------------------------------------------------------------------------------------------

New York                              12      $  337,982,000        12.5%      5.5679%      117      1.29x     73.8%      72.4%
Pennsylvania                          23         305,422,000        11.3       5.7774       111      1.31x     78.1%      74.5%
Texas                                 23         281,327,164        10.4       5.8444       116      1.28x     76.7%      70.9%
Florida                               13         264,615,222         9.8       5.6532       115      1.34x     76.5%      73.6%
Illinois                               5         170,395,898         6.3       5.9687        92      1.30x     73.2%      69.6%
California                            17         162,264,328         6.0       5.7670       119      1.25x     72.1%      67.2%
Arizona                               10         122,955,144         4.6       5.9772       109      1.33x     72.5%      67.6%
Ohio                                  10         113,012,264         4.2       5.8835       118      1.30x     70.2%      63.7%
New Jersey                            13         101,491,961         3.8       5.8404       119      1.33x     73.3%      68.2%
Utah                                  11          96,704,210         3.6       5.6983       118      1.27x     76.4%      62.4%
Tennessee                              7          89,844,000         3.3       5.7760       119      1.54x     73.3%      73.2%
Massachusetts                          9          84,158,568         3.1       5.7166       106      1.28x     70.9%      64.2%
Colorado                               4          67,270,000         2.5       5.7029       118      1.36x     70.7%      64.3%
Maryland                               8          56,137,913         2.1       5.7756       113      1.25x     71.3%      64.8%
Connecticut                            2          51,848,460         1.9       5.9299       117      1.44x     71.4%      60.7%
Michigan                              18          44,348,889         1.6       5.7186       118      1.31x     77.9%      71.2%
Kentucky                               7          38,621,581         1.4       5.9323       115      1.30x     74.9%      65.5%
South Carolina                         3          37,130,718         1.4       6.2693       202      1.43x     70.3%      22.0%
North Carolina                         9          36,046,437         1.3       5.7289       119      1.44x     72.5%      61.2%
Louisiana                              5          35,481,072         1.3       5.7126       119      1.34x     71.8%      66.0%
Georgia                                9          32,390,775         1.2       5.7586        98      1.45x     71.6%      67.2%
Indiana                                6          25,272,000         0.9       5.7734       118      1.29x     77.2%      71.5%
Oklahoma                               2          25,100,000         0.9       5.7619       119      1.33x     78.1%      75.1%
Delaware                               2          17,400,000         0.6       5.7181       117      1.24x     76.8%      69.0%
Mississippi                            3          15,058,000         0.6       5.9167       117      1.63x     58.5%      49.7%
Washington                             3          12,404,417         0.5       5.5434       114      1.58x     74.7%      66.1%
Virginia                               3          11,551,776         0.4       5.6676       115      1.52x     74.7%      70.4%
Wisconsin                              2          11,018,800         0.4       5.8922        63      1.32x     71.8%      69.5%
Oregon                                 2           9,818,100         0.4       5.7163       117      1.31x     75.2%      70.8%
Nevada                                 1           9,000,000         0.3       5.7500       118      1.53x     35.7%      31.5%
Kansas                                 2           8,172,600         0.3       5.6779       116      1.31x     79.4%      74.7%
Nebraska                               1           7,743,368         0.3       5.8775       119      1.53x     74.8%      63.3%
Arkansas                               3           4,672,100         0.2       5.3960       104      2.09x     75.9%      75.9%
West Virginia                          1           4,500,000         0.2       5.7355       120      1.38x     73.8%      66.3%
Idaho                                  1           1,278,200         0.0       5.3960       104      2.09x     75.9%      75.9%
Iowa                                   1             660,000         0.0       5.3960       104      2.09x     75.9%      75.9%
                                 -----------------------------------------------------------------------------------------------
TOTAL:                               251      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ===============================================================================================


(1)  Because this table is presented at the Mortgaged Property level, certain
     information is based on allocated loan amounts for mortgage loans secured
     by more than one Mortgaged Property. As a result, the weighted averages
     presented in this table may deviate slightly from weighted averages
     presented at the mortgage loan level in other tables in this free writing
     prospectus.


                                  Annex A-2-11



          YEARS BUILT/RENOVATED FOR LOAN GROUP 1 MORTGAGE LOANS(1),(2)



                                                                                               WEIGHTED AVERAGES
                                                                              --------------------------------------------------
                                                 AGGREGATE         % OF                    STATED            CUT-OFF
                                  NUMBER OF       CUT-OFF         INITIAL                REMAINING             DATE    LTV RATIO
YEARS                             MORTGAGED        DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
BUILT/RENOVATED                  PROPERTIES       BALANCE         BALANCE       RATE       (MOS.)     DSCR    RATIO    MATURITY
--------------------------------------------------------------------------------------------------------------------------------

1963 -  1969                           2      $    5,368,913         0.2%      5.9186%      118      1.44x     70.7%      61.1%
1970 -  1979                          13          68,556,700         2.5       5.7130       116      1.46x     71.6%      67.2%
1980 -  1989                          29         418,030,282        15.5       5.6253       116      1.28x     74.3%      71.8%
1990 -  1999                          64         503,380,969        18.7       5.7590       110      1.36x     73.3%      69.4%
2000 -  2007                         143       1,697,761,103        63.0       5.8166       116      1.32x     74.5%      67.9%
                                 -----------------------------------------------------------------------------------------------
TOTAL:                               251      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ===============================================================================================


              PREPAYMENT PROTECTION FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                               WEIGHTED AVERAGES
                                                                              --------------------------------------------------
                                                 AGGREGATE         % OF                    STATED            CUT-OFF
                                  NUMBER OF       CUT-OFF         INITIAL                REMAINING             DATE    LTV RATIO
PREPAYMENT                        MORTGAGE         DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
PROTECTION                       PROPERTIES       BALANCE         BALANCE       RATE       (MOS.)     DSCR    RATIO    MATURITY
--------------------------------------------------------------------------------------------------------------------------------

Defeasance                           154      $2,360,885,941        87.7%      5.7583%      115      1.32x     74.5%      69.2%
Yield Maintenance                     18         148,237,369         5.5       5.8981       114      1.31x     70.8%      63.0%
Yield Maintenance, Def/YM              1          85,000,000         3.2       5.7985       118      1.23x     77.3%      72.1%
Defeasance, Def/YM                     4          37,692,112         1.4       5.8396       118      1.52x     67.4%      63.1%
Defeasance, Def/Fixed Penalty          3          35,963,123         1.3       5.9060       118      1.34x     71.1%      65.4%
Yield Maintenance, Fixed Penalty       2          15,569,422         0.6       6.2063        89      1.34x     71.9%      66.0%
Defeasance, Fixed Penalty              1           9,750,000         0.4       5.9600        56      1.19x     61.3%      59.1%
                                 -----------------------------------------------------------------------------------------------
TOTAL:                               183      $2,693,097,968       100.0%      5.7737%      115      1.32x     74.2%      68.7%
                                 ===============================================================================================


          PARTIAL INTEREST ONLY PERIODS FOR LOAN GROUP 1 MORTGAGE LOANS



                                                                                               WEIGHTED AVERAGES
                                                                              --------------------------------------------------
                                                 AGGREGATE         % OF                    STATED            CUT-OFF
                                  NUMBER OF       CUT-OFF         INITIAL                REMAINING             DATE    LTV RATIO
PARTIAL INTEREST                  MORTGAGE         DATE        LOAN GROUP 1   MORTGAGE      TERM       UW      LTV         AT
ONLY PERIODS                     PROPERTIES       BALANCE         BALANCE       RATE       (MOS.)     DSCR    RATIO    MATURITY
--------------------------------------------------------------------------------------------------------------------------------

12 -  12                              4       $   40,544,000         3.5%      5.9207%      107      1.17x     74.8%      65.7%
13 -  24                             18          203,982,000        17.7       5.8440       112      1.27x     70.3%      62.4%
25 -  36                             25          219,205,000        19.0       5.8386       116      1.25x     75.5%      68.2%
37 -  48                              2           23,850,000         2.1       5.8579       120      1.18x     76.9%      70.6%
49 -  84                             41          665,740,000        57.7       5.7760       118      1.25x     75.3%      70.3%
                                 -----------------------------------------------------------------------------------------------
                                     90       $1,153,321,000       100.0%      5.8067%      117      1.25x     74.5%      68.4%
                                 ===============================================================================================


(1)  Range of Years Built/Renovated references the earlier of the year built or
     with respect to renovated properties, the year of the most recent
     renovation date with respect to each Mortgaged Property.

(2)  Because this table is presented at the Mortgaged Property level, certain
     information is based on allocated loan amounts for mortgage loans secured
     by more than one Mortgaged Property. As a result, the weighted averages
     presented in this table may deviate slightly from weighted averages
     presented at the mortgage loan level in other tables in this free writing
     prospectus.


                                  Annex A-2-12



                                                                       ANNEX A-2

              CUT-OFF DATE BALANCES FOR LOAN GROUP 2 MORTGAGE LOANS



                                                                                          WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                               AGGREGATE        % OF                    STATED           CUT-OFF
                                 NUMBER OF      CUT-OFF        INITIAL                REMAINING            DATE    LTV RATIO
CUT-OFF DATE                     MORTGAGE        DATE       LOAN GROUP 2   MORTGAGE     TERM       UW      LTV         AT
BALANCES                           LOANS        BALANCE       BALANCE        RATE      (MOS.)     DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

 $2,400,000 - $ 2,999,999             3      $  7,904,392        1.3%       5.8521%      118      1.30x   69.3%      62.8%
 $3,000,000 - $ 3,999,999             6        20,383,000        3.4        5.8537       102      1.35x   78.1%      74.5%
 $4,000,000 - $ 4,999,999             7        30,400,000        5.1        5.7323       118      1.34x   75.3%      70.7%
 $5,000,000 - $ 6,999,999            12        71,404,821       12.0        5.8142       118      1.35x   77.1%      74.6%
 $7,000,000 - $ 9,999,999            11        87,756,000       14.7        5.8193       113      1.28x   75.6%      72.1%
$10,000,000 - $14,999,999             5        58,884,000        9.9        5.8103       118      1.32x   79.2%      77.2%
$15,000,000 - $24,999,999            11       191,950,000       32.2        5.7684       118      1.23x   75.9%      73.4%
$25,000,000 - $36,500,000             4       127,026,323       21.3        5.6422       118      1.30x   68.8%      62.8%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               59      $595,708,536      100.0%       5.7608%      117      1.29x   74.8%      71.2%
                                 ===========================================================================================


                 MORTGAGE RATES FOR LOAN GROUP 2 MORTGAGE LOANS



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                               AGGREGATE        % OF                    STATED           CUT-OFF
                                 NUMBER OF      CUT-OFF        INITIAL                REMAINING            DATE    LTV RATIO
                                  MORTGAGE       DATE       LOAN GROUP 2   MORTGAGE     TERM       UW      LTV        AT
MORTGAGE RATES                      LOAN        BALANCE       BALANCE        RATE       (MOS.)    DSCR    RATIO    MATURITY
----------------------------------------------------------------------------------------------------------------------------

5.5670% -  5.9999%                   54      $549,649,323       92.3%       5.7213%      118      1.29x   74.6%      71.2%
6.0000% -  6.2499%                    4        39,064,392        6.6        6.1981       105      1.21x   77.5%      72.8%
6.2500% -  6.4200%                    1         6,994,821        1.2        6.4200       114      1.14x   72.9%      63.2%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               59      $595,708,536      100.0%       5.7608%      117      1.29x   74.8%      71.2%
                                 ===========================================================================================


       ORIGINAL TERM TO MATURITY IN MONTHS FOR LOAN GROUP 2 MORTGAGE LOANS



                                                                                            WEIGHTED AVERAGES
                                                                            ------------------------------------------------
                                               AGGREGATE        % OF                    STATED           CUT-OFF
                                 NUMBER OF      CUT-OFF        INITIAL                REMAINING            DATE    LTV RATIO
ORIGINAL TERM TO                  MORTGAGE        DATE      LOAN GROUP 2   MORTGAGE     TERM       UW      LTV         AT
MATURITY IN MONTHS                 LOANS        BALANCE       BALANCE        RATE       (MOS.)    DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

     60 -  84                         3      $ 14,471,000        2.4%       6.1340%       66      1.23x   76.9%      74.1%
     85 - 120                        56      $581,237,536       97.6%       5.7515%      118      1.29x   74.7%      71.2%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               59      $595,708,536      100.0%       5.7608%      117      1.29x   74.8%      71.2%
                                 ===========================================================================================



                                  Annex A-2-13



      REMAINING TERM TO MATURITY IN MONTHS FOR LOAN GROUP 2 MORTGAGE LOANS



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                               AGGREGATE        % OF                   STATED            CUT-OFF
                                 NUMBER OF      CUT-OFF        INITIAL                REMAINING            DATE    LTV RATIO
REMAINING TERM TO                 MORTGAGE       DATE       LOAN GROUP 2   MORTGAGE     TERM       UW      LTV         AT
MATURITY IN MONTHS                 LOANS        BALANCE        BALANCE       RATE      (MOS.)     DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

   58 -  84                           3      $ 14,471,000        2.4%       6.1340%       66      1.23x   76.9%      74.1%
   85 - 120                          56      $581,237,536       97.6%       5.7515%      118      1.29x   74.7%      71.2%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               59      $595,708,536      100.0%       5.7608%      117      1.29x   74.8%      71.2%
                                 ===========================================================================================


     ORIGINAL AMORTIZATION TERM IN MONTHS FOR LOAN GROUP 2 MORTGAGE LOANS(1)



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                               AGGREGATE       % OF                     STATED           CUT-OFF
                                 NUMBER OF      CUT-OFF       INITIAL                 REMAINING           DATE     LTV RATIO
ORIGINAL AMORTIZATION             MORTGAGE       DATE       LOAN GROUP 2   MORTGAGE     TERM       UW      LTV         AT
TERM IN MONTHS                     LOANS       BALANCE         BALANCE       RATE       (MOS.)    DSCR    RATIO    MATURITY
----------------------------------------------------------------------------------------------------------------------------

   240 - 360                         29      $276,074,536      100.0%      5.8116%      115       1.21x   72.0%      64.4%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               29      $276,074,536      100.0%      5.8116%      115       1.21x   72.0%      64.4%
                                 ===========================================================================================


    REMAINING AMORTIZATION TERM IN MONTHS FOR LOAN GROUP 2 MORTGAGE LOANS(1)



                                                                                           WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                               AGGREGATE        % OF                    STATED           CUT-OFF
                                 NUMBER OF     CUT-OFF         INITIAL                REMAINING            DATE    LTV RATIO
REMAINING AMORTIZATION           MORTGAGE       DATE        LOAN GROUP 2   MORTGAGE      TERM      UW      LTV        AT
TERM IN MONTHS                    LOANS        BALANCE        BALANCE        RATE       (MOS.)    DSCR    RATIO    MATURITY
----------------------------------------------------------------------------------------------------------------------------

    238 - 360                        29      $276,074,536      100.0%       5.8116%      115      1.21x   72.0%      64.4%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               29      $276,074,536      100.0%       5.8116%      115      1.21x   72.0%      64.4%
                                 ===========================================================================================


(1)  Does not include the mortgage loans that are interest-only for their entire
     term.


                                  Annex A-2-14



               AMORTIZATION TYPES FOR LOAN GROUP 2 MORTGAGE LOANS



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
                                               AGGREGATE        % OF                    STATED           CUT-OFF
                                 NUMBER OF      CUT-OFF        INITIAL                REMAINING           DATE     LTV RATIO
                                  MORTGAGE       DATE       LOAN GROUP 2   MORTGAGE      TERM      UW      LTV         AT
AMORTIZATION TYPES                 LOANS        BALANCE        BALANCE       RATE       (MOS.)    DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

BALLOON LOANS
Interest-Only                        30      $319,634,000       53.7%       5.7169%      118      1.36x   77.2%      77.2%
Partial Interest-Only                26       231,329,000       38.8        5.8210       115      1.20x   76.2%      69.8%
Balloon                               3        44,745,536        7.5        5.7629       117      1.24x   50.2%      36.1%
                                 -------------------------------------------------------------------------------------------
TOTAL:                               59      $595,708,536      100.0%       5.7608%      117      1.29x   74.8%      71.2%
                                 ===========================================================================================


      UNDERWRITTEN CASH FLOW DEBT SERVICE COVERAGE RATIOS FOR LOAN GROUP 2
                                 MORTGAGE LOANS



                                                                                            WEIGHTED AVERAGES
                                                                           -------------------------------------------------
UNDERWRITTEN                                   AGGREGATE        % OF                    STATED           CUT-OFF
CASH FLOW                        NUMBER OF      CUT-OFF        INITIAL                REMAINING           DATE     LTV RATIO
DEBT SERVICE                      MORTGAGE       DATE       LOAN GROUP 2   MORTGAGE      TERM      UW      LTV         AT
COVERAGE RATIOS                    LOANS        BALANCE        BALANCE       RATE       (MOS.)    DSCR    RATIO     MATURITY
----------------------------------------------------------------------------------------------------------------------------

   1.06X - 1.09X                      1      $ 18,000,000        3.0%       5.8400%      117      1.06x   70.3%      63.4%
   1.10X - 1.14X                      2        17,994,821        3.0        6.0676       116      1.12x   76.7%      69.7%
   1.15X - 1.19X                     13        96,823,392       16.3        5.8299       112      1.