EX-1 2 exh-1.htm AGREED-UPON PROCEDURES REPORT, DATED JUNE 19, 2019, OF PRICEWATERHOUSECOOPERS LLP

Exhibit 1

 

 

 

 

 

 

Report of Independent Accountants on Applying

Agreed-Upon Procedures

 

 

Barclays Capital Inc. (the “Company”)

745 7th Avenue

New York, NY 10019

 

We (“us” or “PwC”) have performed the procedures enumerated below, which were agreed to by the Company, Barclays Capital Real Estate Inc., Barclays Commercial Mortgage Securities LLC, Barclays Bank PLC, Goldman Sachs Bank USA, Goldman Sachs & Co. LLC, Goldman Sachs Mortgage Company, Deutsche Bank Securities Inc. and Deutsche Bank AG, New York Branch, who are collectively referred to herein as the “Specified Parties”, solely to assist you with the procedures enumerated below with respect to MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series

2019-B3B4 (the “Transaction”). The Company (the “Responsible Party”) is responsible for the accuracy of the information contained in the Final Data File (defined below). The sufficiency of these procedures is solely the responsibility of the Specified Parties. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

 

Procedures and Findings

 

In connection with the Transaction, the Specified Parties have requested that the procedures be performed on a single loan secured by a single property, herein referred to as the “Underlying Collateral”, which represents the entire population of collateral within the Transaction.

 

This agreed-upon procedures engagement was not conducted for the purpose of satisfying any criteria for due diligence published by a nationally recognized statistical rating organization.

 

In addition, PwC should not be regarded as having in any way warranted or given any assurance as to the following items:

·The completeness, accuracy, appropriateness, quality or integrity of any of the information provided by the Responsible Party, or any other party for purposes of PwC performing the procedures agreed to by the Specified Parties. The procedures performed would not necessarily reveal any material misstatement of the amounts, balances, ratios, percentages or other relationships of the information included in the data provided to us;
·The conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements;
·The value of collateral securing such assets; and
·The compliance of the originator of the assets with federal, state, and local laws and regulations. We have not performed any procedures with respect to the fair value of the securities being offered in the Transaction and PwC expresses no opinion on the current fair value of these securities. PwC should not be regarded as having performed any procedures other than those detailed in this report.

With respect to any terms or requirements of the Transaction documents that do not appear in the exhibits, we performed no procedures and, accordingly, the procedures we performed would not ensure that any requirements are satisfied. Further, we have performed only the following agreed-upon procedures and therefore make no representations regarding the adequacy of disclosures or whether any

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

 

 

material facts have been omitted from the Transaction documents.

It should be understood that we make no representations as to:

·The interpretation of Transaction documents (including, but not limited to, indenture agreements or offering documents) included in connection with our procedures;
·Your compliance with Rule 15Ga-2 of the Securities Exchange Act of 1934; and
·The reasonableness of any of the assumptions provided by the Company.

These procedures should not be taken to supplant any additional inquiries or procedures that the Specified Parties would undertake in consideration of the Transaction.

For the purposes of this report:

·The phrase “Cut-off Date” refers to the date of July 6, 2019.
·The following Microsoft Excel (“Excel”) file was provided to us by the Company, which includes certain attributes related to the Underlying Collateral as of the Cut-off Date shall be herein referred to as the “Final Data File”:
oMFTII 2019-B3B4 Accounting Tape Final.xlsx
·The fields in the Final Data File shall be herein referred to as “Specified Attributes”.
·The phrase “Source Document” refers to the documents provided to us by the Company, related to the information contained in the Final Data File.
·The phrase “Loan File” refers to any Source Document or collection of Source Documents provided to us by the Company, and used by us in performing the procedures enumerated below.
·The phrase “compared and agreed,” as used hereinafter, refers to the comparison of one or more Specified Attributes to Source Documents for which the Specified Attributes and the Source Documents have been found to be in agreement, unless otherwise indicated.
·The phrase “recalculation,” as used hereinafter, refers to a recomputation using the Specified Attributes included in the Final Data File.
·Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Final Data File and related Source Documents.

Source Documents included in the Loan File:

·The phrase “Appraisal Report” refers to a signed appraisal document.
·The phrase “Closing Statement” refers to the signed borrower and lender mortgage loan closing statements indicating the sources and uses of dispersed funds.
·The phrase “Engineering Report” refers to the signed property condition assessment document.
·The phrase “Environmental Report” refers to the signed phase I and phase II (if applicable) environmental documents.

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 

 

 
 
 

 

·The phrase “Fee Schedule” refers to the documentation for the certificate administrator fee and servicing fee related to the Transaction.
·The phrase “Guaranty Agreement” refers to the signed guaranty agreement, and/or any riders thereof.
·The phrase “Insurance Summary” refers to the certificate of insurance and/or insurance risk analysis summarizing the coverage for each insurance category.
·The phrase “Loan Agreement” refers to the signed loan agreement, or the equivalent, and/or any assumptions or riders thereof.
·The phrase “Management Agreement” refers to the signed management agreement, assignment of management agreement, and/or any riders thereof.
·The phrase “Mezzanine Loan Agreement” refers to the signed mezzanine loan agreement, or the equivalent, and/or any assumptions or riders thereof.
·The phrase “Non-Consolidation Opinion” refers to the signed non-consolidation opinion.
·The phrase “Promissory Note” refers to the signed promissory note, or the equivalent, and/or any assumptions or riders thereof.
·The phrase “Seismic Report” refers to a signed seismic assessment document included in the Loan File.
·The phrase “Tenant Lease” refers to the signed tenant lease agreement, and/or any riders thereof.
·The phrase “Title Policy” refers to the signed title policy.
·The phrase “Trepp” refers to the website www.trepp.com, which was referenced for information relating to prior securitizations.
·The phrase “Underwriting File” refers to the historical and pro-forma cash flow statements prepared by the Company’s underwriting team.

Our procedures and results thereof are as follows:

From May 28, 2019 through June 19, 2019 the Company provided us with the Source Documents related to the Underlying Collateral for which we (i) compared and agreed certain Specified Attributes set forth in the Final Data File to the corresponding Source Documents (the “Compared Attributes”), (ii) recalculated certain Specified Attributes set forth in the Final Data File, and found them to be in agreement (the “Recalculated Attributes”) or (iii) were instructed by the Company to assume certain Specified Attributes set forth in the Final Data File were accurate, and therefore we did not perform any compare and agree or recalculation procedures (the “Company Provided Attributes”). The procedures with respect to the Compared Attributes and Recalculated Attributes were applied as indicated in Exhibit A. The recalculation methodology associated with the Recalculated Attributes is listed in Exhibit B. For each procedure where a recalculation was performed, the underlying attributes were compared and agreed to the corresponding Source Documents. For the purpose of our procedures, any differences within the defined tolerance level (if any) listed in Exhibit A, were considered to be in agreement. We did not perform any procedures with respect to the Specified Attributes denoted with a Source Document of “None - Company Provided” or “Not Applicable”, in Exhibit A.

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 
 

 

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the Final Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

This report is intended solely for the information and use of the Specified Parties (including for purposes of substantiating the Specified Parties’ “due diligence defense” under the Securities Act of 1933), and is not intended to be and should not be used by anyone other than the Specified Parties.

If a party has obtained, or has access to, this report without having executed an agreement with PwC wherein such party accepts responsibility for the sufficiency of the procedures performed (such party is herein referred to as a “Non-Specified Party”), that Non-Specified Party cannot:

i)Rely upon this report, and any use of this report by that Non-Specified Party is its sole responsibility and at its sole and exclusive risk; and
ii)Acquire any rights or claims against PwC, and PwC assumes no duties or obligations to such Non- Specified Party.

A Non-Specified Party may not disclose or distribute this report or any of the report’s contents to any other party (including but not limited to electronic distribution and/or posting to a website pursuant to Rule 17G-5 of the Securities Exchange Act of 1934).

The procedures enumerated above were performed as of the date of this report, and we disclaim any consideration of any events and circumstances occurring after the date of this report. Further, we have no obligation to update this report because of events occurring, or data or information coming to our attention, subsequent to the date of this report.

 

 

June 19, 2019

Washington, D.C.

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 

 
 
MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B3B4  
   
   
Exhibits  

 

Exhibit A -Specified Attributes

 

Exhibit B -Recalculated Attributes

 

 

 

 

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
1 Loan None - Company Provided None
2 % of deal Recalculation None
3 Loan/Prop. None - Company Provided None
4 No. of Props None - Company Provided None
5 Seller None - Company Provided None
6 Originator Loan Agreement None
7 Property Name None - Company Provided None
8 Property Address Appraisal Report None
9 City Appraisal Report None
10 State Appraisal Report None
11 Zip Code Appraisal Report None
12 County Appraisal Report None
13 Property Type Appraisal Report None
14 Property Type Code Appraisal Report None
15 Property Subtype Appraisal Report None
16 Total SF/Units Underwriting File None
17 Unit of Measure Underwriting File None
18

Net Rentable Square Feet

Number

 Underwriting File None
19

Net Rentable Square Feet

Securitization Number

 Underwriting File None
20 Units Beds Rooms Number Not Applicable* None
21

Units Beds Rooms

Securitization Number

 Not Applicable* None
22 Year Built Appraisal Report None
23 Year Renovated Appraisal Report None
24 Environmental Report Type Environmental Report None
25 Environmental Report Date Environmental Report None
26 Phase II Recommended Environmental Report None
27 Phase II Performed Environmental Report None
28 Engineering Report Date Engineering Report None
29 Seismic Report Date Seismic Report None
30 Seismic Zone Seismic Report None
31 PML (%) Seismic Report None
32 Environmental Insurance Insurance Summary None
33 Earthquake Insurance Insurance Summary None
34 Blanket Insurance Policy (Y/N) Insurance Summary None
35 Loan Purpose Closing Statement None
36 Appraised Value Appraisal Report None
37 Appraisal Value Type (As Is / As Stabilized / As Complete) Appraisal Report None

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
38 Appraised Cap Rate (%) Appraisal Report None
39 Appraisal Date Appraisal Report None
40 As-is Appraised Value Appraisal Report None
41 As-is Date of Valuation Appraisal Report None
42 Appraiser Designation Appraisal Report None
43 Appraisal FIRREA (Y/N) Appraisal Report None
44 Mortgage Loan Original Balance Loan Agreement None
45 Mortgage Loan Cut-off Date Balance Recalculation $1.00
46 Trust A Notes Original Balance Promissory Note None
47 Trust A Notes Cut-off Balance Recalculation $1.00
48 Trust B Notes Original Balance Promissory Note None
49 Trust B Notes Cut-off Balance Recalculation $1.00
50 Trust Loan Original Balance Loan Agreement None
51 Trust Loan Cut-off Date Balance Recalculation $1.00
52 Senior Pari Passu Non-Trust Notes Original Balance Promissory Note None
53 Senior Pari Passu Non-Trust Notes Cut-off Balance Recalculation $1.00
54 Senior Pari Passu Non-Trust Notes Description Promissory Note None
55 Mortgage Loan Interest Rate Loan Agreement None
56 Administrative Fee Fee Schedule None
57 Net Mortgage Loan Interest Rate Recalculation None
58 Mortgage Loan Monthly Payment Recalculation $1.00
59 Mortgage Loan Annual Debt Service Recalculation $1.00
60 Addit Debt Permitted (Y/N) Loan Agreement None
61 Type of Addit Debt Permitted Loan Agreement None
62 Addit Debt Exist (Y/N) Mezzanine Loan Agreement None
63 Additional Debt Type(s) Mezzanine Loan Agreement None
64 Total Additional Debt Original Balance Mezzanine Loan Agreement None
65 Total Additional Debt Cut-off Date Balance Recalculation $1.00
66 Total Additional Debt Maturity Balance Recalculation $1.00

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
67 Additional Debt Interest Rate Mezzanine Loan Agreement None
68 Additional Debt Annual Debt Service Recalculation $1.00
69 Total Original Debt Balance(Pari + B-note + Mezz) Recalculation None
70 Total Cut-off Date DebtBalance (Pari + B-note + Mezz) Recalculation $1.00
71 Total Debt Maturity Balance(Pari + B-note + Mezz) Recalculation $1.00
72 Total Debt (Mortgage  + B- Note + Mezz) Annual Debt Service Recalculation $1.00
73 Total Debt Interest Rate (%) Recalculation None
74 Original Interest Rate Type Code Loan Agreement None
75 Amortization Type Loan Agreement None
76 Payment Type Code Loan Agreement None
77 Payment Frequency Code Loan Agreement None
78 Accrual Type Loan Agreement None
79 Interest Accrual Method Code Loan Agreement None
80 Annual Debt Service Recalculation $1.00
81 Monthly Debt Service Recalculation $1.00
82 I/O Period Loan Agreement None
83 Term Loan Agreement None
84 Rem. Term Recalculation None
85 Amort. Term Not Applicable* None
86 Rem. Amort. Not Applicable* None
87 Seasoning Recalculation None
88 CutOff Date None - Company Provided None
89 Payment Date Loan Agreement None
90 Grace Period (Late Payment) Loan Agreement None
91 Grace Period (Default) Loan Agreement None
92 Note Date Loan Agreement None
93 First Payment Date Loan Agreement None
94 ARD (Y/N) Loan Agreement None
95 Maturity/ARD Date Loan Agreement None
96 Final Mat Date Loan Agreement None
97 ARD Step Up (%) Loan Agreement None
98 Post-ARD Hyper Am?(Yes/No) Loan Agreement None
99 Partial IO Last IO Payment Not Applicable* None

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
100 Partial IO Loan First P&I Payment Not Applicable* None
101 Call Protection Description Loan Agreement None
102 Lockout End Date Loan Agreement None
103 Defeasance Allowed Loan Agreement None
104 Defeasance Summary Loan Agreement None
105 Prepayment / Defeasance Begin Date Loan Agreement None
106 Prepayment / Defeasance End Date Loan Agreement None
107 Yield Maint. Allowed Loan Agreement None
108 Yield Maint. Provision Loan Agreement None
109 Yield Maintenance Index Loan Agreement None
110 Yield Maintenance Discount Loan Agreement None
111 Yield Maintenance Margin Loan Agreement None
112 Yield Maintenance Calculation Method Loan Agreement None
113 Original Lockout Loan Agreement None
114 Prepayment Lockout/Defeasance End Date (AL) Recalculation None
115 Lockout Remaining Recalculation None
116 Defeasance Option Start Date Loan Agreement None
117 Remaining Defeasance Payments Recalculation None
118 Prepayment Premiums End Date Recalculation None
119 Yield Maint. End Date Recalculation None
120 Remaining Yield Maintenance Payments Recalculation None
121 Defeased Status Code Loan Agreement None
122 Open Payments Loan Agreement None
123 Original String Recalculation None
124 Open Period Begin Date Loan Agreement None
125 Partial Release Permitted(Y/N) Loan Agreement None
126 Partial Release Provisions Loan Agreement None
127 Current Occupancy Underwriting File None
128 Current Occupancy Date Underwriting File None
129 Most Recent Occupancy Underwriting File None
130 Most Recent Occupancy Date Underwriting File None

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
131 Second Most Recent Occupancy Underwriting File None
132 Second Most Recent Occupancy Date Underwriting File None
133 Third Most Recent Occupancy Underwriting File None
134 Third Most Recent Occupancy Date Underwriting File None
135 2016 Revenues Underwriting File $1.00
136 2016 Total Expenses Underwriting File $1.00
137 2016 NOI Underwriting File $1.00
138 2017 Revenues Underwriting File $1.00
139 2017 Total Expenses Underwriting File $1.00
140 2017 NOI Underwriting File $1.00
141 2018 Revenues Underwriting File $1.00
142 2018 Total Expenses Underwriting File $1.00
143 2018 NOI Underwriting File $1.00
144 Most Recent Revenues Underwriting File $1.00
145 Most Recent Expenses Underwriting File $1.00
146 Most Recent NOI Underwriting File $1.00
147 Most Recent Net Cash Flow Amount Underwriting File $1.00
148 As of Underwriting File None
149 Most Recent Financials Start Date Underwriting File None
150 UW Revenues Underwriting File $1.00
151 UW Total Expenses Underwriting File $1.00
152 UW NOI Underwriting File $1.00
153 UW Capital Items Underwriting File $1.00
154 UW NCF Underwriting File $1.00
155 U/W Economic Occupancy Underwriting File None
156 Cutoff LTV (%) Recalculation 0.1%
157 Maturity LTV (%) Recalculation 0.1%
158 UW NOI DSCR Recalculation 0.01x
159 UW NCF DSCR Recalculation 0.01x
160 Underwritten NOI Debt Yield Recalculation 0.1%
161 Underwritten NCF Debt Yield Recalculation 0.1%
162 Total Debt NOI DSCR Recalculation 0.01x
163 Total Debt NCF DSCR Recalculation 0.01x
164 Total Debt NOI DY Recalculation 0.1%
165 Total Debt NCF DY Recalculation 0.1%
166 Total Debt CUT_OFF_LTV Recalculation 0.1%

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
167 Total Debt MAT_LTV Recalculation 0.1%
168 Total Debt Per Unit Recalculation $1.00
169 Loan Structure Code Loan Agreement None
170 Single Tenant Underwriting File None
171 Largest Tenant Underwriting File None
172 AL_Largest Tenant Underwriting File None
173 Unit Size Underwriting File None
174 Lease Expiration Tenant Lease None
175 2nd Largest Tenant Not Applicable* None
176 AL_Second Largest Tenant Not Applicable* None
177 2nd Largest Tenant Unit Size Not Applicable* None
178 2nd Largest Tenant Lease Expiration Not Applicable* None
179 3rd Largest Tenant Not Applicable* None
180 AL_Third Largest Tenant Not Applicable* None
181 3rd Largest Tenant Unit Size Not Applicable* None
182 3rd Largest Tenant Lease Expiration Not Applicable* None
183 4th Largest Tenant Not Applicable* None
184 4th Largest Tenant Unit Size Not Applicable* None
185 4th Largest Tenant Lease Expiration Not Applicable* None
186 5th Largest Tenant Not Applicable* None
187 5th Largest Tenant Unit Size Not Applicable* None
188 5th Largest Tenant Lease Expiration Not Applicable* None
189 Master Lease (Y/N) Not Applicable* None
190 Master Lease Details Not Applicable* None
191 Title Type Title Policy None
192 Lien Position Securitization Code Title Policy None
193 Ground Lease Expiration Not Applicable* None
194 Ground Lease Extension Options Not Applicable* None
195 Ground Lease Fully Extended Expiration Not Applicable* None
196 Annual Ground Lease Payment Not Applicable* None
197 Ground Lease Escalation Terms Not Applicable* None
198 Due on Sale Loan Agreement None

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
199 Due on Encumbrance Loan Agreement None
200 Crossed Loan Loan Agreement None
201 Related Borrower Loan Agreement None
202 Borrower Name Loan Agreement None
203 Single Purpose Entity (Yes/No) Loan Agreement None
204 Recycled SPE (Yes/No) Loan Agreement None
205 SPE State Loan Agreement None
206 Non Consolidation Opinion(Yes/No) Non-Consolidation Opinion None
207 Number of Independent Directors Loan Agreement None
208 TIC Borrower? (Yes/No) Loan Agreement None
209 Delaware LLC or LP? (Yes/No) Loan Agreement None
210 Delaware Statutory Trust? (Yes/No) Loan Agreement None
211 Tenant-in-Common Loan Agreement None
212 Sponsor Loan Agreement None
213 Carve-out Guarantor Guaranty Agreement None
214 Warm Body Guarantor(Yes/No) Guaranty Agreement None
215 Property Manager Management Agreement None
216 Hotel Franchise Flag Not Applicable* None
217 Franchise Agreement Expiration Not Applicable* None
218 Lockbox (Y/N) Loan Agreement None
219 Lockbox In-place Loan Agreement None
220 Lockbox Type Loan Agreement None
221 Cash Management Loan Agreement None
222 Lockbox Trigger Loan Agreement None
223 Upfront CapEx Reserve Loan Agreement, Closing Statement $1.00
224 Monthly Capex Reserve Loan Agreement, Closing Statement $1.00
225 Capex Escrow Cash or LOC Loan Agreement, Closing Statement None
226 CapEx Reserve Cap Loan Agreement $1.00
227 Upfront Eng. Reserve Loan Agreement, Closing Statement $1.00
228 Upfront Envir. Reserve Loan Agreement, Closing Statement $1.00

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
229 Monthly Envir. Reserve Loan Agreement, Closing Statement $1.00
230 Envir. Escrow Cash or LOC Loan Agreement, Closing Statement None
231 Envir. Reserve Cap Loan Agreement $1.00
232 Upfront TI/LC Reserve Loan Agreement, Closing Statement $1.00
233 Monthly TI/LC Reserve Loan Agreement, Closing Statement $1.00
234 TI/LC Reserve Cash or LOC Loan Agreement, Closing Statement None
235 TI/LC Reserve Cap Loan Agreement $1.00
236 Upfront RE Tax Reserve Loan Agreement, Closing Statement $1.00
237 Monthly RE Tax Reserve Loan Agreement, Closing Statement $1.00
238 RE Tax Escrow Cash or LOC Loan Agreement, Closing Statement None
239 RE Tax Reserve Cap Loan Agreement $1.00
240 Upfront Ins. Reserve Loan Agreement, Closing Statement $1.00
241 Monthly Ins. Reserve Loan Agreement, Closing Statement $1.00
242 Insurance Escrow Cash or LOC Loan Agreement, Closing Statement None
243 Insur. Reserve Cap Loan Agreement $1.00
244 Upfront Debt Service Reserve Loan Agreement, Closing Statement $1.00
245 Monthly Debt Service Reserve Loan Agreement, Closing Statement $1.00
246 Debt Service Reserve Cash or LOC Loan Agreement, Closing Statement None
247 Debt Service Reserve Cap Loan Agreement $1.00
248 Upfront Other Reserve Loan Agreement, Closing Statement $1.00
249 Upfront Other Description Loan Agreement, Closing Statement None
250 Monthly Other Reserve Loan Agreement, Closing Statement $1.00
251 Other Monthly Description Loan Agreement, Closing Statement None

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit A
   
   
Specified Attributes  

 

# Specified Attribute Source Document Tolerance Level
252 Other Reserve Cash or LOC Loan Agreement, Closing Statement None
253 Other Reserve Cap Loan Agreement $1.00
254 Holdback Not Applicable* None
255 Holdback Amt Not Applicable* None
256 Holdback Desc. Not Applicable* None
257 Letter of Credit Not Applicable* None
258 Description of LOC Not Applicable* None
259 Counterparty of LOCs Not Applicable* None
260 2016 Hotel Occupancy Not Applicable* None
261 2016 Hotel ADR Not Applicable* None
262 2016 Hotel RevPAR Not Applicable* None
263 2017 Hotel Occupancy Not Applicable* None
264 2017 Hotel ADR Not Applicable* None
265 2017 Hotel RevPAR Not Applicable* None
266 2018 Hotel Occupancy Not Applicable* None
267 2018 Hotel ADR Not Applicable* None
268 2018 Hotel RevPAR Not Applicable* None
269 Most Recent Occupancy % (Hotel Only) Not Applicable* None
270 Most Recent ADR Not Applicable* None
271 Most Recent RevPAR Not Applicable* None
272 UW Occupancy % Not Applicable* None
273 UW ADR Not Applicable* None
274 UW RevPAR Not Applicable* None
275 Mortgage Assumable? Loan Agreement None
276 Assumption Fee Loan Agreement None
277 Condominium Present? Loan Agreement None
278 Previous Securitization Trepp None

 

*-This Specified Attribute is Not Applicable, therefore we were instructed by the Company to not perform any procedures on this Specified Attribute. The associated field is either not populated or populated with NAP in the Final Data File.

 

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit B
   
   
Recalculated Attributes  

 

# Specified Attribute Recalculation Tolerance Levels
2 % of deal Quotient of (i) Trust Loan Cut-off Date Balance and (ii) the aggregate Trust Loan Cut-off Date Balance. None
45 Mortgage Loan Cut-off Date Balance Set equal to Mortgage Loan Original Balance. $1.00
47 Trust A Notes Cut-off Balance Set equal to Trust A Notes Original Balance. $1.00
49 Trust B Notes Cut-off Balance Set equal to Trust B Notes Original Balance. $1.00
51 Trust Loan Cut-off Date Balance Set equal to Trust Loan Original Balance. $1.00
53 Senior Pari Passu Non-Trust Notes Cut-off Balance Set equal to Senior Pari Passu Non-Trust Notes Original Balance. $1.00
57 Net Mortgage Loan Interest Rate Difference between (i) Mortgage Loan Interest Rate and (ii) Administrative Fee. None
58 Mortgage Loan Monthly Payment Quotient of (i) Mortgage Loan Annual Debt Service and (ii) 12. $1.00
59 Mortgage Loan Annual Debt Service Product of the (i) Mortgage Loan Original Balance, (ii) Mortgage Loan Interest Rate, and (iii) Accrual Type (365/360). $1.00
65 Total Additional Debt Cut-off Date Balance Set equal to the Total Additional Debt Original Balance. $1.00
66 Total Additional Debt Maturity Balance Set equal to the Total Additional Debt Original Balance. $1.00
68 Additional Debt Annual Debt Service Product of the (i) Total Additional Debt Original Balance, (ii) Additional Debt Interest Rate, and (iii) Accrual Type (365/360). $1.00
69 Total Original Debt Balance(Pari + B-note + Mezz) Sum of (i) Mortgage Loan Original Balance, and (ii) Total Additional Debt Original Balance. None
70 Total Cut-off Date Debt Balance (Pari + B-note + Mezz) Set equal to Total Original Debt Balance (Pari + B-note + Mezz). $1.00
71 Total Debt Maturity Balance(Pari + B-note + Mezz) Set equal to Total Original Debt Balance (Pari + B-note + Mezz). $1.00

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit B
   
   
Recalculated Attributes  

 

 

# Specified Attribute Recalculation Tolerance Levels
       
72 Total Debt (Mortgage  + B- Note + Mezz) Annual Debt Service Sum of (i) Mortgage Loan Annual Debt Service and (ii) Additional Debt Annual Debt Service. $1.00
73 Total Debt Interest Rate (%) The quotient of: (i) the sum of:(a) the product of:(1) Total Additional Debt Cut-off Date Balance; and(2) Additional Debt Interest Rate; and(b) the product of:(1) Mortgage Loan Cut-off Date Balance; and(2) Mortgage Loan Interest Rate; and(ii) Total Cut-off Date Debt Balance (Pari + B-note + Mezz). None
80 Annual Debt Service Product of the (i) Trust Loan Original Balance, (ii) Mortgage Loan Interest Rate, and (iii) Accrual Type (365/360). $1.00
81 Monthly Debt Service Quotient of (i) Annual Debt Service and (ii) 12. $1.00
84 Rem. Term Difference between (i) Term and(ii) Seasoning. None
87 Seasoning Set equal to zero. None
114 Prepayment Lockout/Defeasance End Date (AL) Difference between (i) Open Period Begin Date and (ii) 1 day. None
115 Lockout Remaining Difference between (i) Original Lockout and (ii) Seasoning. None
117 Remaining Defeasance Payments Count of the number of monthly payment dates, from and inclusive of (i) Prepayment / Defeasance Begin Date and (ii) Open Period Begin Date. None
118 Prepayment Premiums End Date Difference between (i) Open Period Begin Date and (ii) 1 day. None
119 Yield Maint. End Date Difference between (i) Open Period Begin Date and (ii) 1 day. None
 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit B
   
   
Recalculated Attributes  

 

# Specified Attribute Recalculation Tolerance Levels
120 Remaining Yield Maintenance Payments Count of the number of monthly payment dates, from and inclusive of (i) Lockout End Date and (ii) Open Period Begin Date. None
123 Original String Count of the number of monthly payment dates, from and inclusive of (a) (i) First Payment Date and (ii) Lockout End Date (b) (i) Prepayment / Defeasance Begin Date and (ii) Prepayment / Defeasance End Date (c) (i) Prepayment / Defeasance Begin Date and (ii) Yield Maint. End Date (d) (i) Open Period Begin Date and (ii) Maturity/ARD Date. None
156 Cutoff LTV (%) Quotient of (i) Mortgage Loan Cut-off Date Balance and (ii) Appraised Value. 0.1%
157 Maturity LTV (%) Quotient of (i) Mortgage Loan Maturity Balance and (ii) Appraised Value. 0.1%
158 UW NOI DSCR Quotient of (i) UW NOI and (ii) Mortgage Loan Annual Debt Service. 0.01x
159 UW NCF DSCR Quotient of (i) UW NCF and (ii) Mortgage Loan Annual Debt Service. 0.01x
160 Underwritten NOI Debt Yield Quotient of (i) UW NOI and (ii) Mortgage Loan Original Balance. 0.1%
161 Underwritten NCF Debt Yield Quotient of (i) UW NCF and (ii) Mortgage Loan Original Balance. 0.1%
162 Total Debt NOI DSCR Quotient of (i) UW NOI and (ii) Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service. 0.01x
163 Total Debt NCF DSCR Quotient of (i) UW NCF and (ii) Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service. 0.01x
164 Total Debt NOI DY Quotient of (i) UW NOI and (ii) Total Original Debt Balance (Pari+ B-note + Mezz). 0.1%
165 Total Debt NCF DY Quotient of (i) UW NCF and (ii) Total Original Debt Balance (Pari+ B-note + Mezz). 0.1%

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us		  
 

 

 

 
 

 

MFTII 2019-B3B4 Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-B3B4		 Exhibit B
   
   
Recalculated Attributes  

 

# Specified Attribute Recalculation Tolerance Levels
166 Total Debt CUT_OFF_LTV Quotient of (i) Total Cut-off Debt Balance (Pari + B-note + Mezz) and (ii) Appraised Value. 0.1%
167 Total Debt MAT_LTV Quotient of (i) Total Debt Maturity Balance (Pari + B-note + Mezz) and (ii) Appraised Value. 0.1%
168 Total Debt Per Unit Quotient of (i) Total Original Debt Balance (Pari + B-note + Mezz) and (ii) Total SF/Units. $1.00

 

 

  PricewaterhouseCoopers LLP, 600 13th Street NW, Washington DC 20005
T: (202) 414-1000, www.pwc.com/us