GS MORTGAGE SECURITIES CORPORATION II,Pooling and Servicing Agreement • November 20th, 2013 • GS Mortgage Securities Trust 2013-Gcj16 • Asset-backed securities • New York
Pooling and Servicing Agreement, dated as of November 1, 2013, among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Rialto Capital Advisors, LLC, as Special Servicer, Situs Holdings, LLC, as Operating Advisor, and U.S. Bank National Association, as Certificate Administrator and Trustee.
GS MORTGAGE SECURITIES CORPORATION II,Mortgage Loan Purchase Agreement • November 20th, 2013 • GS Mortgage Securities Trust 2013-Gcj16 • Asset-backed securities • New York
Representation Mortgage Loan Description of Exception (25) Licenses and Permits 257 West 17th Street (No. 64) The tenant’s use of the mortgaged property as a fitness center is deemed a physical cultural establishment under applicable Zoning Regulations and requires the issuance of a “special use permit” by the New York City Board of Standards and Appeals and corresponding change in use the certificate of occupancy for the building. Under the loan documents the borrower covenants to diligently pursue the issuance of the special use permit and change in use to the certificate of occupancy for the buildings. Any loss or damage caused by the failure of the mortgaged property to have the special use permit of change in use of the certificate of occupancy is a recourse obligation of the borrower and the guarantor. (39) Organization of Mortgagor Sail Pointe Apartments (No. 19) and Sanctuary at Winterlakes Apartments (No. 27) The Mortgagor under each of these Mortgage Loans is affiliated with
GS MORTGAGE SECURITIES CORPORATION II,Mortgage Loan Purchase Agreement • November 20th, 2013 • GS Mortgage Securities Trust 2013-Gcj16 • Asset-backed securities • New York
Representation Mortgage Loan Description of Exception insurance required under the Mortgage Loan documents (without giving effect to the cost of terrorism and wind components of such casualty and business interruption/rental loss insurance), and if the cost of terrorism insurance exceeds such amount, Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to such amount. (29) Acts of Terrorism Exclusion 1245 16th Street (No. 8) If TRIA or a similar or subsequent statute is not in effect, then the Mortgagor is not required to maintain insurance that covers acts of terrorism unless such insurance is available to the Mortgagor at commercially reasonable rates and on commercially reasonable terms and is then typically required for similar commercial properties in California by commercial lenders originating loans for securitization. (39) Organization of Mortgagor Wal-Mart Shadow Anchored Midwest Portfolio (No. 23); Wal-Mart Shadow Anchored Sou
GS MORTGAGE SECURITIES CORPORATION II,Mortgage Loan Purchase Agreement • November 20th, 2013 • GS Mortgage Securities Trust 2013-Gcj16 • Asset-backed securities • New York
Representation Mortgage Loan Description of Exception under the Mortgage Loan Documents so long as Home Depot maintains insurance or self-insurance as required under the sublease. The mortgagee is generally not required to be a loss payee under the insurance policies obtained by Home Depot. The insurance or self-insurance maintained by Home Depot does not satisfy certain requirements set forth in the representation. In addition, Home Depot is generally not required to obtain insurance against terrorist acts. Under the terms of the Home Depot sublease, which terms have been recognized by the mortgagee, insurance proceeds and condemnation awards may generally be retained by Home Depot and not applied to restoration or repayment of the debt. (26) Recourse Obligations The Brittany (No. 21), Candlewood (No. 24) and Randolph Park (No. 41) Pursuant to the Mortgage Loan Documents, the recourse liability of the non-recourse carve-out guarantor is capped at $25 million; provided that such cap wi
GS MORTGAGE SECURITIES CORPORATION II,Mortgage Loan Purchase Agreement • November 20th, 2013 • GS Mortgage Securities Trust 2013-Gcj16 • Asset-backed securities • New York
Capitalized terms used herein without definition have the meanings given them in the Agreement or, if not defined therein, in the Indemnification Agreement.
GS MORTGAGE SECURITIES CORPORATION II,Mortgage Loan Purchase Agreement • November 20th, 2013 • GS Mortgage Securities Trust 2013-Gcj16 • Asset-backed securities • New York
