Common use of Exceptions to Representations and Warranties Clause in Contracts

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1038 Walgreens - Sherwood Pursuant to a post-closing agreement and related extension thereof, by March 31, 2004, Borrower is required to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has not yet been received. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 Walgreens - Loveland, OH Lender has accepted self insurance from the Walgreens tenant, and Borrower is liable for any gaps in the insurance coverage. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento, CA Terrorism insurance has been waived. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts-Lamar, CO A Transaction Screen Environmental Assessment performed according to ASTM standards was conducted in lieu of an environmental site assessment or update thereof. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1011 Indigo Creek Apartments 1. The initial borrower that executed the security instrument is permitted to make one more transfer of an interest in the property to a Tenant in Common prior to April 5, 2004. Each Tenant in Common is required to be a single-purpose entity, and the Tenant in Common must sign an assumption agreement.

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- 8 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1038 Walgreens 1149 Walgreen's - Sherwood Pursuant Chelmsford For each Mortgage Loan listed to the 010-1161 Walgreen's - Carrollton, GA left, a posttenant has a right of first 010-closing agreement 1168 Northern Lights Crossings refusal to purchase the related 010-1170 Grenoble Shopping Center Mortgaged Property. The right of first refusal is subordinate to the mortgage and related extension thereof, by March 31, 2004, is not exercisable in a foreclosure sale. -------------------------------------------------------------------------------- Exceptions to Rep 11 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1170 Grenoble Shopping Center Borrower is allowed to perform immediate repairs over a three year period, with specified repairs to be completed by June 30, 2005, June 30, 2006, and June 30, 2007. Therefore, the borrower was only required to furnish deposit $40,000 at closing into an immediate repairs escrow, and thereafter to deposit $3,500 per month for 30 months into the immediate repairs escrow. The repairs to be completed by June 30, 2005 are estimated to cost $39,699 and the balance of the escrow at that time will be approximately $61,000. The repairs to be completed by June 30, 2006 are estimated to cost $36,542 and the balance of the escrow at that time will be approximately $61,000. The repairs to be completed by June 30, 2007 are estimated to cost $64,722 and the balance of the escrow at that time will be approximately $66,500. -------------------------------------------------------------------------------- 010-1172 Darden Restaurant (Pad) Lender a clean estoppel from did not require an engineering report as the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has Mortgaged Property consists of land only and the related borrower does not yet been receivedown the improvements. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 Walgreens 1149 Walgreen's - LovelandChelmsford For each Mortgage Loan listed to the 010-1161 - Walgreen's - Carrollton, OH Lender GA left, the lender has accepted self insurance from the Walgreens tenant. Although neither Walgreens nor the borrower is obligated under the Mortgage Loan documents to maintain business interruption or rental loss coverage under the terms of the lease, the tenant's obligation to pay rent does not abate after a casualty during xxe term of the mortgage loan and Borrower tenant is liable also responsible for any gaps effectuating the repair and restoration of the Mortgaged Property in accordance with the insurance coverageterms of the lease. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento1165 CVS-Mesa, CA Terrorism AZ Neither the tenant nor the borrower is obligated under the Mortgage Loan documents to maintain business interruption or rental loss coverage, and under the terms of the lease, the tenant's obligation to pay rent may abate after a casualty during the term of the mortgage loan. However, the guarantor of the loan has guaranteed the top $407,250 of the loan amount. Additionally the loan has a loan to value ratio of 52%, with a land value of $1,300,000, or 48% of the original loan amount, and the loan is fully amortizing over 15 years. -------------------------------------------------------------------------------- 010-1121 Park 720 Commercial Center Through a side letter agreement, lender waived coverage amounts required by the Mortgage, and accepted the borrower's current coverage amounts. As a result, the fire and extended perils insurance has been waivedpolicy, comprehensive general liability insurance policy, wind/hail insurance policy and business interruption insurance policy are in amounts less than the amounts required by the representations. However, the borrower and the warm body guarantor are liable to the lender for losses incurred due to breach or failure to perform or comply with any of the insurance provisions of the Mortgage Loan documents. -------------------------------------------------------------------------------- 010-1172 Darden Restaurant (Pad) The borrower is the lessor under a ground lease and is not required to maintain hazard insurance or law and ordinance insurance. Under the terms of the ground lease, the lessee is required to maintain hazard insurance, but is not required to maintain business interruption or rental loss coverage or law and ordinance insurance. However, the lessee maintains law and ordinance coverage under a blanket policy. Additionally, in the event of a casualty event, the lessee is required to restore the Mortgaged Property regardless of whether the damage was uninsured, except during the last 3 years of the ground lease term. -------------------------------------------------------------------------------- 010-1157 DeSoto Beach Hotel While the borrower is required to maintain rental loss insurance, the amount of the rental loss insurance policy is less than the income for 12 months of operations. However, in the event of insured loss which triggers the rental loss coverage, all or a portion of the underwritten expenses including those related to room expenses, franchise fees, repair and maintenance expenses and management fees would cease during the coverage period. Approximately 50% of the amount of coverage provided would be sufficient to cover annual debt service, taxes, insurance, and a portion of the underwritten utility expenses (estimated at 20%). The remaining funds would be available to be used to cover management and other expenses incurred by the borrower during the restoration period. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- Representation 23 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts-Lamar1168 Northern Lights Crossings The loan documents require the two tenant in common borrowers to transfer the Mortgaged Property to a new single purpose entity borrower by November 17, CO A Transaction Screen Environmental Assessment performed according to ASTM standards was conducted in lieu of an environmental site assessment or update thereof2005. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1011 Indigo Creek Apartments 1196 Casa Bandera 1. The initial borrower Owners of beneficial interests in entities that executed are members of each tenant in common (as well as any direct or indirect owners thereof) may freely transfer beneficial interests in such entity without Lender consent. This would permit transfers of interests one tier removed from the security instrument is permitted to make one more transfer actual member owners of an interest each tenant in the property to a Tenant in Common prior to April 5, 2004. Each Tenant in Common is required to be a single-purpose entity, and the Tenant in Common must sign an assumption agreementcommon.

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- EXCEPTION TO REPRESENTATION 8 -------------------------------------------------------------------------------- Loans Description of Loan No. Exception -------------------------------------------------------------------------------- 010104 Perkin Elmer - Warwick, RI This Mortgage Loan is cross-1038 Walgreens - Sherwood Pursuant to a postcollateralized and cross-closing agreement defaulted with its related Companion Loan which is not included in the Mortgage Pool. In addition, the Companion Loan is secured by the same Mortgaged Property and Mortgage securing its related extension thereof, by March 31, 2004, Borrower is required to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has not yet been receivedMortgage Note. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- EXCEPTION TO REPRESENTATION 29 -------------------------------------------------------------------------------- Loans Description of Loan No. Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under 23 Carriage House Apartments The borrower is not a special purpose entity. -------------------------------------------------------------------------------- EXCEPTION TO REPRESENTATION 34 -------------------------------------------------------------------------------- Loan No. Exception -------------------------------------------------------------------------------- 104 Perkin Elmer - Warwick, RI This Mortgage Loan is cross-collateralized and cross-defaulted with its related Companion Loan which is not included in the Mortgage Pool. In addition, the Companion Loan is secured by the same Mortgaged Property and Mortgage securing its related Mortgage Note. -------------------------------------------------------------------------------- SCHEDULE II GROUND LEASE REPRESENTATIONS AND WARRANTIES With respect to each Mortgage may not as of the date of origination or thereafter have been required Loan secured by a leasehold interest (except with respect to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 Walgreens - Loveland, OH Lender has accepted self insurance from the Walgreens tenant, and Borrower is liable for any gaps in the insurance coverage. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento, CA Terrorism insurance has been waived. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts-Lamar, CO A Transaction Screen Environmental Assessment performed according to ASTM standards was conducted in lieu of an environmental site assessment or update thereof. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1011 Indigo Creek Apartments 1. The initial borrower that executed the security instrument is permitted to make one more transfer of an Mortgage Loan also secured by a fee interest in the property related Mortgaged Property), the Seller represents and warrants the following with respect to a Tenant in Common prior to April 5, 2004. Each Tenant in Common is required to be a single-purpose entity, and the Tenant in Common must sign an assumption agreement.related Ground Lease:

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- 8 ------------------- -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 010-1038 Walgreens 1131 Walgreen's - Sherwood Pursuant Lancaster, OH The tenant has a right of first 010-1130 Walgreen's - Anderson, IN refusal to purchase the Mortgaged 010-1133 Walgreen's - Cincinnati, OH Property. The right of first refusal 010-1129 Walgreen's - Milford, OH is subordinate to the mortgage and is not exercisable in a foreclosure sale. -------------------------------------------------------------------------------- 010-1015 Medical Arts Building Several tenants have first rights to purchase their leased premises if the borrower elects to condominiumize the Mortgaged Property. The Mortgage Loan documents prohibit the borrower from converting the Property to a post-closing agreement and related extension thereof, by March 31, 2004, Borrower is required to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has not yet been receivedcondominium. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 Walgreens 1131 Walgreen's - LovelandLancaster, OH Lender For each Mortgage Loan listed to the 010-1130 Walgreen's - Anderson, IN left, the lender has accepted self 010-1133 Walgreen's - Cincinnati, OH insurance from the Walgreens tenant. 010-1129 Walgreen's - Milford, OH Although neither Walgreens nor the borrower is obligated under the Mortgage Loan documents to maintain business interruption or rental loss coverage under the terms of the lease, the tenant's obligation to pay rent does not abate after a casualty during xxe term of the mortgage loan and Borrower tenant is liable also responsible for any gaps effectuating the repair and restoration of the Mortgaged Property in accordance with the terms of the lease. -------------------------------------------------------------------------------- 010-1136 Edison Pad Sites - Liberty For each Mortgage Loan listed to the Bank left, the borrower is the lessor under 010-1145 Edison Pad Sites - Applebee's a ground lease and is not required to maintain hazard insurance or business interruption insurance. Under the terms of the ground lease, the lessee is required to maintain hazard insurance, but is not required to maintain business interruption or rental loss coverage. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento1119 Lake View Commercial Park For each Mortgage Loan listed to the 010-1134 Power Park Commercial Center left, CA Terrorism the insurance policies maintained have co-insurance provisions. However, the properties are recent construction (2002-2003) and the amount of insurance provided meets or exceeds the insurable value as determined by the appraiser and the actual hard costs for property's construction. The borrower and two warm body guarantors are liable to the lender for losses incurred due to breach or failure to perform or comply with any of the insurance provisions of the loan documents. -------------------------------------------------------------------------------- 010-1128 Lake Buena Vista Factory For each Mortgage Loan listed to the Stores-Phase II left, the borrower is not required to 010-1126 Campus Walk Apartments maintain windstorm insurance on the Mortgaged Property although it is located in Florida. However, the borrower has been waivedchosen to maintain windstorm insurance and the Mortgaged Property is located more than 25 miles from the coast. -------------------------------------------------------------------------------- Exceptions to Rep 19 17 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 010-453 Checker Auto Parts1136 Edison Pad Sites - Liberty These loans are cross-Lamar, CO A Transaction Screen Environmental Assessment performed according to ASTM standards was conducted in lieu of an environmental site assessment or update thereofcollateralized Bank and cross-defaulted. Each mortgaged 010-1145 Edison Pad Sites - Applebee's property is security for both loans. -------------------------------------------------------------------------------- Exceptions to Rep Representation 23 -------------------- ------------------------------- -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 010-1011 Indigo Creek Apartments 1111 Marina Corporate Center 1. The initial borrower Owners of beneficial interests in entities that executed are members of the security instrument is permitted to make Tenants in Common (as well as any direct or indirect owners thereof) may freely transfer beneficial interests in such entity without Lender consent. This would permit transfers of interests one more transfer tier removed from the actual member owners of an interest in the property to a each Tenant in Common prior to April 5, 2004. Each Tenant in Common is required to be a single-purpose entity, and the Tenant in Common must sign an assumption agreementCommon.

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- Representation 8 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 2 Meridian Mall Xxx xxxxxxx Mortgage Loan is 3 Chelsea Market xxxxx-xxxxxxxralized and 46 CVS Rockingham cross-defaulted with its related 51 CVS Rutherford College Comxxxxxx Xxxn, which is not included in the Mortgage Pool. In addition, each Companion Loan is secured by the same Mortgaged Property and the same Mortgage Loan securing its related Mortgage Loan. -------------------------------------------------------------------------------- Exceptions to Representation 12 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 6 Parkdale Mall Xxx xxxxx xxlicy relating to the related Mortgage Loan contains exceptions for royalty interests. -------------------------------------------------------------------------------- Exceptions to Representation 13 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 2 Meridian Mall Xxx xxxxxxx Mortgage Loans provide 6 Parkdale Mall xxxx xx xxxx of terrorism insurance, a 24 Parkdale Crossing xxxxxx xx xxxxxx may be provided. -------------------------------------------------------------------------------- 33 Walgreens - Livonia, MI There is no property or business 35 Walgreens - North Muskegon, XX xxxxxxxxxxxx xxxxxxxxx xx xxx related 37 Walgreens - Longmont, CO Mortgaged Properties. Walgreens 40 Walgreens - Leander, TX self-insures as permitted by the loan documents. -------------------------------------------------------------------------------- Exceptions to Representation 17 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 2 Meridian Mall Xxx xxxxxxx Mortgage Loan is 3 Chelsea Market xxxxx-xxxxxxxralized and 46 CVS Rockingham cross-defaulted with its related 51 CVS Rutherford College Comxxxxxx Xxxn, which is not included in the Mortgage Pool. In addition, each Companion Loan is secured by the same Mortgaged Property and the same Mortgage Loan securing its related Mortgage Loan. -------------------------------------------------------------------------------- Exception to Representation 23 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1038 Walgreens - Sherwood Pursuant 1 Tucson Mall Xxx xxxxxxd partners of GGP Limited Partnership, the owner of 100% of the equity interests in the borrower under the Mortgage Loan, are not restricted in transferring their limited partnership interests in GGP Limited Partnership or causing or permitting their interests to a post-closing agreement and related extension thereofbe redeemed. Shareholders in General Growth Properties, by March 31Inc., 2004the general partner of the borrower under the Mortgage Loan, Borrower is required are not restricted in transferring their shares in General Growth Properties, Inc., or causing or permitting their shares to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has not yet been receivedbe redeemed. -------------------------------------------------------------------------------- Exceptions 2 Meridian Mall X xxxxx-xxx to Rep 13 -------------------- the transfer section 6 Parkdale Mall xxxxxxx, xxxhout consent, approval or 24 Parkdale Crossing xxx xxxxx xxxxxxctions the transfer or pledge of the ownership interest of CBL & Associates Limited Partnership, which is an indirect holder of a 100% interest in the borrower. -------------------------------------------------------------------------------- 27 Park West at Gateway Center Membership interests in the mortgagor may be transferred among Michael E. Xxxxxx, Xxxxxxx X. Xxxxxxxxx, Xxxxxxx X. Xxxxxxx xxx Xxxxxx X. Xxxxx xxxxxxx the consent of mortgagee, so long as those persons responsible for the management of the Mortgaged Property and mortgagor remain unchanged following such transfer or any replacement management is approved by mortgagee. -------------------------------------------------------------------------------- 30 Shoppes at Paradise Point The limited partnership interests in the borrower are freely transferable. -------------------------------------------------------------------------------- Exception to Representation 27 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as 16 Shiloh Square Shopping Centex Xxx xxxxxx xf parking spaces at the Mortgaged Property is deficient pending the receipt of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13a variance. -------------------------------------------------------------------------------- 01020 Pepper Cove Apartments Xxx xxxxxx of non-1037 Walgreens - Loveland, OH Lender has accepted self insurance from handicapped parking spaces at the Walgreens tenant, and Borrower Mortgaged Property is liable for any gaps in the insurance coverage. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento, CA Terrorism insurance has been waiveddeficient by approximately 7 spaces. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- Representation 34 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 0102 Meridian Mall Xxx xxxxxxx Mortgage Loan is 3 Chelsea Market xxxxx-453 Checker Auto Partsxxxxxxxralized and 46 CVS Rockingham cross-Lamardefaulted with its related 51 CVS Rutherford College Comxxxxxx Xxxn, CO A Transaction Screen Environmental Assessment performed according to ASTM standards was conducted which is not included in lieu of an environmental site assessment or update thereofthe Mortgage Pool. In addition, each Companion Loan is secured by the same Mortgaged Property securing its related Mortgage Note. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- Representation 40 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 0102 Meridian Mall Xxx xxxxxxx Mortgage Loan does not 6 Parkdale Mall xxxxxxx xxx a separate guarantor for 12 Westlake Corporate Center the recourse carve outs to the 24 Parkdale Crossing xxxxxxxxxxxxx xxdemnity. -------------------------------------------------------------------------------- 6 Parkdale Mall Xxx xxxxxxx Mortgage Loans do not 24 Parkdale Crossing xxxxxxx xxx x xxparate guarantor for the recourse carve outs. -------------------------------------------------------------------------------- 16 Shiloh Square Shopping Centex Xxxxx xxx xx carve-1011 Indigo Creek Apartments 1outs to the 17 Chino Spectrum non-recourse provisions in connection with any bankruptcy of the borrower. -------------------------------------------------------------------------------- Exceptions to Representation 46 -------------------------------------------------------------------------------- Loans Description of Exception ----- ------------------------ -------------------------------------------------------------------------------- 3 Chelsea Market The initial borrower that executed related Mortgage Property is encumbered by the security instrument A1 Pari Passu note whose payment is permitted of equal priority with the A2 Pari Passu note to make one more transfer of an interest be included in the property to a Tenant in Common prior to April 5, 2004Trust. Each Tenant in Common is required to be a single-------------------------------------------------------------------------------- EXHIBIT A WACHOVIA MORTGAGE LOAN SCHEDULE Mortgage Loan Number Property Name Address City State Zip Code County ------------------------------------------------------------------------------------------------------------------------------------ 1 Tucson Mall 0000 Xxxxx Xxacle Road Txxxxx XX 00000 Xxxx 0 Xxxxxxxn Mall 0000 Xxxxx Xxxxr Avenue Oxxxxx XX 00000 Xxxxxx 0 Xxxxxxa Marxxx 00 Xxxxx Xxxxxx Nxx Xxxx XX 00000 Xxx Xxxx 0 Xxxkdale Mall 0000 Xxxxxx Xxxeway Bxxxxxxx XX 00000 Xxxxxxxxx 10801-purpose entity, and the Tenant in Common must sign an assumption agreement.10816 Executive Center 12 WestLake Corporate Park Xxxxx; 0000 Xxxxxx Xxxx Xxxxx Xxxxxx Rxxx XX 00000 Xxxxxxx

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- -------------------------------------------------------------------------------- SCHEDULE 9 ---------- Loan No. Exception -------- --------- 75 PerkinElmer, Inc. - Beltsville, MD Each of these Mortgage Loans Description of is ---------------------------------------- cross-collateralized and 96 CVS - Knox, IN cross-defaulted with its related ---------------------------------------- Companion Loan which is not included 97 PerkinElmer, Inc. - Daytona Beach, FL in the Mortgage Pool. In addition, ---------------------------------------- each Companion Loan is secured by the 106 PerkinElmer, Inc. - Phelps, NY same Moxxxxxxd Property and Mortgage securing its related Mortgage Note. SCHEDULE 12 ----------- Loan No. Exception -------------------------------------------------------------------------------- 010-1038 Walgreens -------- --------- 10 Town Square Shopping Xxxxxx Xx xxxxxxxxxxg assessment was not performed, because the Mortgaged Property is newly constructed. SCHEDULE 14 ----------- Loan No. Exception -------- --------- 97 PerkinElmer, Inc. - Sherwood Pursuant Daytona Beach, FL There is no windstorm insurance because the tenant at this Mortgaged Property is subject to a post-closing agreement bond lease and related extension thereof, by March 31, 2004, Borrower is not required to furnish maintain such insurance. SCHEDULE 17 ----------- Loan No. Exception -------- --------- 84 Davenport Alley The related Mortgage Loan Documents permit the borrower to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstandingincur existing secured subordinated debt. This estoppel has not yet been receivedSCHEDULE 22 ----------- Loan No. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each -------- --------- 84 Davenport Alley The Mortgage may not as of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 Walgreens - Loveland, OH Lender has accepted self insurance from the Walgreens tenant, and Borrower is liable for any gaps in the insurance coverage. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento, CA Terrorism insurance has been waived. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts-Lamar, CO A Transaction Screen Environmental Assessment performed according to ASTM standards was conducted in lieu of Loan Seller owns an environmental site assessment or update thereof. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1011 Indigo Creek Apartments 1. The initial borrower that executed the security instrument is permitted to make one more transfer of an equity interest in the property related borrower in order to a Tenant in Common prior recover Section 42 tax credits. SCHEDULE 24 ----------- Loan No. Exception -------- --------- 32 Western Village With respect to April 5the second sentence of Representation and Warranty No. 24, 2004. Each Tenant in Common is required the note was amended to be a singleinclude California-purpose entity, and the Tenant in Common must sign an assumption agreementspecific default language.

Exceptions to Representations and Warranties. Exceptions Exception to Rep 11 -------------------- -------------------------------------------------------------------------------- Representation 8 ----------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010------------------------------------ --------------------------------------- 1 AmericasMart Each of these Mortgage Loans is 3 100-1038 Walgreens - Sherwood Pursuant to a post1100 Wilson cross-closing agreement collateralized and 14 Westfield San Francisco Centre cross-defaulted with its rexxxxx xxxx 00 000 Xxxxxx xx xxx Xmericas passu Companion Loan, which is not included in the Mortgage Pool. In addition, each pari passu Companion Loan is secured by the same Mortgaged Property and the same Mortgage Loan securing its related extension thereof, by March 31, 2004, Borrower is required to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstandingMortgage Loan. This estoppel has not yet been received. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- -------------------------------------------------------------------------------- Representation 22 ------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as ------------------------------------ --------------------------------------- 152 Walgreens - Manhattan, KS Wachovia Development Corporxxxxx, xx 000 Xxxxxxxxx - Xxxge City, KS affiliate of the date Seller, is xxx xxxx member of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13related borrower. -------------------------------------------------------------------------------- 010-1037 Walgreens - Loveland, OH Lender has accepted self insurance from the Walgreens tenant, and Borrower is liable for any gaps in the insurance coverage. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento, CA Terrorism insurance has been waived. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- -------------------------------------------------------------------------------- Representation 23 ------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts-Lamar------------------------------------ --------------------------------------- 7 200 Public Square The related Mortgage Loan documexxx 00 Xxxxx Xxwe Apartments permit future mezzanine debt xxxxxxx the consent of the Mortgagee, CO A Transaction Screen Environmental Assessment performed according subject to ASTM standards was conducted in lieu of an environmental site assessment or update thereofcertain conditions as set forth therein. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010------------------------------------ --------------------------------------- 60 Le Med Apartments The related Mortgage Loan documents permit up to four (4) transfers of undivided tenant in common interests in the Mortgaged Property within 60 days after loan closing without transfer fee. If a transfer cannot be completed within the 60 day period, the Mortgagee will allow up an additional 30 day to complete the transfer if the Mortgagee has approved the proposed transferee and any applicable guarantor and the Mortgagee is reasonably satisfied the Mortgagor can complete the transfer and satisfy the outstanding requirements as set forth therein. Exception to Representation 26 ------------------------------ 165 Summit Place of Kings Mountain The related Mortgage Loan dxxxxxxxx permit a portion of the Mortgaged Property to be released, subject to certain conditions set forth therein. Exception to Representation 27 ------------------------------ Loan Description of Exception ------------------------------------ --------------------------------------- 209 Sherwin Williams - Ashtabula, OH The Mortgaged Property is non-1011 Indigo Creek Apartments 1conforming. The initial borrower that executed parking lot has 5 fewer parking spaces than required by the security instrument is permitted to make one more transfer of an interest in the property to a Tenant in Common prior to April 5, 2004zoning ordinance. Each Tenant in Common The Mortgagor is required to be a single-purpose entity, and stripe the Tenant in Common must sign an assumption agreementadditional spaces within 90 days after the closing.

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1038 Walgreens 1007 Heritage Square Shopping Pursuant to a post-closing agreement Center and related extension thereof, by May 15, 2004, Borrower is required to complete repairs to asphalt paving on the mortgaged property. -------------------------------------------------------------------------------- 010-1050 Walgreen's - Sherwood New Haven, CT Pursuant to a post-closing agreement and related extension thereof, by March 31May 17, 2004, Borrower is required to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has not yet been received. -------------------------------------------------------------------------------- Exceptions to Rep 13 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 1053 Walgreens - LovelandCincinnati, OH Lender has accepted self insurance 010-1054 Walgreens - Harrison, OH from the Walgreens tenant, and Borrower is liable for any gaps in the hazard and liability insurance coverage. -------------------------------------------------------------------------------- 010-614 Office Max - SacramentoAlthough neither Walgreens nor Borrower must maintain rent loss coverage, CA Terrorism insurance has been waivedthe tenant's obligation to pay rent does not abate after a casualty. -------------------------------------------------------------------------------- Exceptions to Rep 19 -------------------- 14 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts1030 Essex Place Apartments Lender has executed a written waiver 010-Lamar, CO A Transaction Screen Environmental Assessment performed according 1034 Town Center Apartments permitting each of the sponsors to ASTM standards was conducted 010-1035 Centennial Park Apartments hold their required ownership interest in lieu of an environmental site assessment or update thereofa specifically identified REIT other than the REIT identified in the loan documents for each loan. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- 17 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1011 Indigo Creek 1047 Cedar Ridge Apartments These loans are cross-collateralized 010-1049 Stonegate Apartments and cross-defaulted. Each mortgaged property is security for both loans. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1030 Essex Place Apartments 1. The initial borrower Owners of beneficial interests in 010-1034 Town Center Apartments entities that executed are members of the security instrument is permitted to make 010-1035 Centennial Park Apartments Tenants in Common (as well as any direct or indirect owners thereof) may freely transfer beneficial interests in such entity without Lender consent. This would permit transfers of interests one more transfer tier removed from the actual member owners of an interest in the property to a each Tenant in Common prior to April 5, 2004. Each Tenant in Common is required to be a single-purpose entity, and the Tenant in Common must sign an assumption agreementCommon.

Exceptions to Representations and Warranties. Exceptions to Rep 11 -------------------- -------------------------------------------------------------------------------- Representation 8 ------------------------------ Loans Description of Exception -------------------------------------------------------------------------------- 010----------------------------------------------- ------------------------------------------------------------ 152.00 Creekside Retail Center Wachovia's collateral is a leasehold interest in the subject 116.00 Extra Space Storage Pico Rivera II property. Wachovia's Mortgage is the first lien on that 4.03 Renaissance Hotel leasehold interest. ----------------------------------------------- ------------------------------------------------------------ 2.00 ING Hospitality Pool Each Mortgage Loan is cross-1038 collateralized and 6.00 Potomac Mills cross-defaulted with its related Coxxxxxon Loan(s), which is not included in the Mortgage Pool. In addition, the related Companion Loan(s) is secured by the same Mortgaged Property and the same Mortgage Loan securing each Mortgage Loan. ----------------------------------------------- ------------------------------------------------------------ 114.00 Walgreens - Sherwood Pursuant Bryan , TX Each Mortgaged Property has a right of first refusal with 122.00 Walgreens - Houston, TX respect to a post-closing agreement and related extension thereofthe Mortgaged Property. 121.00 Walgreens - Forth Worth, by March 31TX 126.00 Walgreens - Walterboro, 2004SC 72.00 Walgreens - Brooklyn, Borrower is required to furnish to Lender a clean estoppel from the Walgreens tenant indicating that no punchlist items remain outstanding. This estoppel has not yet been received. -------------------------------------------------------------------------------- NY ----------------------------------------------- ------------------------------------------------------------ Exceptions to Rep Representation 13 -------------------- -------------------------------------------------------------------------------- ------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- All Loans All insurance requirements specified under each Mortgage may not as of the date of origination or thereafter have been required to be satisfied in every respect; however, the coverages specifically enumerated in Representation 13 were in place at origination, and to Seller's actual knowledge, remain in place except as otherwise indicated in the exceptions to this Representation 13. -------------------------------------------------------------------------------- 010-1037 ----------------------------------------------- ------------------------------------------------------------ 114.00 Walgreens - LovelandBryan, OH TX The related mortgaged property is self-insured 122.00 Walgreens - Houston, TX 121.00 Walgreens - Fortworth, TX 72.00 Walgreens - Brooklyn, NY 126.00 Walgreens - Walterboro, SC ----------------------------------------------- ------------------------------------------------------------ 111.00 Twin Oaks Apartments Business interruption or rental loss insurance for losses due to wind damage or other occurrences was waived and a $427,000 letter of credit was collected at closing. Borrower and guarantor also indemnify Lender has accepted self insurance from the Walgreens tenant, and Borrower is liable for any gaps in the insurance coverageagainst losses relating thereto. -------------------------------------------------------------------------------- 010-614 Office Max - Sacramento, CA Terrorism insurance has been waived. -------------------------------------------------------------------------------- ----------------------------------------------- ------------------------------------------------------------ Exceptions to Rep Representation 19 -------------------- -------------------------------------------------------------------------------- ------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-453 Checker Auto Parts-Lamar, CO A Transaction Screen ----------------------------------------------- ------------------------------------------------------------ 152.00 Creekside Retail Center The Environmental Assessment performed according to ASTM standards Indemnity Agreement was conducted in lieu of an environmental site assessment or update thereofwaived. -------------------------------------------------------------------------------- Exceptions to Rep 23 -------------------- -------------------------------------------------------------------------------- Loans Description of Exception -------------------------------------------------------------------------------- 010-1011 Indigo Creek Apartments 1. The initial borrower that executed Wachovia obtained and reviewed a Phase I Environmental Report for the security instrument is permitted to make one more transfer of an interest in the property to a Tenant in Common prior to April 5, 2004. Each Tenant in Common is required to be a single-purpose entity, Property and the Tenant in Common must sign an assumption agreement.Deed of Trust contains the standard environmental representations and covenants. ----------------------------------------------- ------------------------------------------------------------ Exception to Representation 23 ------------------------------