Common use of Foreclosure Property Clause in Contracts

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule A Exceptions to Representations and Warranties Schedule B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 4 BILL OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule A Exceptions to Representations and Warranties Schedule B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule A Exceptions to Representations and Warranties Principal Commercial Funding, LLC Schedule B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION Principal: _________________ EXHIBIT 4 BILL OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxingfollxxxxg: Seller: Bear Stearns Commercial MortgagePrincipax Xxmmercial Funding, Inc. LLC Purchaser: Xxar Bear Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns:FORMULATION 32-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 4 BILL OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.3 PRICING FORMULATION

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule 5.5 SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES XXXXX FARGO LOANS SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies LIST OF MORTGAGE LOANS SUBJECT TO SECURED CREDITOR IMPAIRED PROPERTY POLICIES EXHIBIT 3 PRICING FORMULATION Xxxxx Fargo: ___________ EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION Xxxxxx Xxxxxxx: _______________ EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule A Exceptions to Representations and Warranties Principal Commercial Funding, LLC Schedule B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION Principal: _________________ EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule Principal Commercial Funding II, LLC SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule 5.5 SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 BILL OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule 5.5 SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION Bear Xxxxxxx: _______________ EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule Principal Commercial Funding II, LLC SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule 5.5 SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule Xxxxx Fargo Loans SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule 5.5 SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.

Foreclosure Property. Seller is not selling any Mortgage Loan as part of a plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does not know or, to Seller's knowledge, have reason to know that any Mortgage Loan will default. The representations in this paragraph 43 are being made solely for the purpose of determining whether the Mortgaged Property, if acquired by the Trust, would qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code, and may not be relied upon or used for any other purpose. Such representations shall not be construed as a guarantee to any degree that defaults or losses will not occur. EXHIBIT 3 PRICING FORMULATION Bear Stearns: 3-1 Schedule SCHEDULE A Exceptions to Representations and Warranties Schedule B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.2 Schedule 5.5 SCHEDULE C List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 BILL XXXX OF SALE 1. Parties. The parties to this Bill of Sale are the foxxxxing: Seller: Bear Stearns Commercial Mortgage, Inc. Purchaser: Xxar Stearns Commercial Mortgage Securities Inc.