CO-LENDER AGREEMENT Dated as of August 18, 2015 by and among COLUMN FINANCIAL INC. (Initial Note A-1 Holder) and COLUMN FINANCIAL, INC. (Initial Note A-2 Holder) Arizona Grand Resort & SpaCo-Lender Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
THIS CO-LENDER AGREEMENT (this “Agreement”), dated as of August 18, 2015 by and between COLUMN FINANCIAL, INC. (together with its successors in interest, “CFI”), as initial owner of the Note A-1 (in such capacity, the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”), and CFI, as initial owner of the Note A-2 (in such capacity, the “Initial Note A-2 Holder” and, together with the Initial Note A-1 Holder, the “Initial Note Holders”).
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., Depositor, WELLS FARGO BANK, NATIONAL ASSOCIATION, Master Servicer, MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION, Special Servicer, PENTALPHA SURVEILLANCE LLC, Operating...Pooling and Servicing Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
Pooling and Servicing Agreement, dated as of November 1, 2015, among Credit Suisse First Boston Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Pentalpha Surveillance LLC, as Operating Advisor, Wells Fargo Bank, National Association, as Certificate Administrator, and Wilmington Trust, National Association, as Trustee.
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., PURCHASER and MC-FIVE MILE COMMERCIAL MORTGAGE FINANCE LLC, SELLER MORTGAGE LOAN PURCHASE AGREEMENT Dated as of November 1, 2015 Series 2015-C4Mortgage Loan Purchase Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
for the same use in compliance with all applicable legal requirements and in substantially the same area, size, and dimensions as existing as of the closing of the Mortgage Loan. The Mortgage Loan Documents additionally provide that the lender is not obligated to make the net insurance proceeds available to the Mortgagor (and may use the proceeds to pay down the Mortgage Loan) if, among other things, the Mortgaged Property cannot be rebuilt for the same use in compliance with all applicable legal requirements and in substantially the same area, size, and dimensions as existing as of the closing of the Mortgage Loan.
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., PURCHASER WALKER & DUNLOP COMMERCIAL PROPERTY FUNDING I CS, LLC, SELLER and WALKER & DUNLOP COMMERCIAL PROPERTY FUNDING, LLC MORTGAGE LOAN PURCHASE AGREEMENT Dated as of November 1, 2015 Series 2015-C4Mortgage Loan Purchase Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
regulatory closure. The Mortgagor obtained an environmental insurance policy for the benefit of the lender from Lloyd’s Syndicates with a limit of $2 million per incident and, in the aggregate, a deductible of $50,000 and a term of ten years with an optional extension period of three years. In addition, a reserve in the amount of $300,000 was funded at origination of the Mortgage Loan.
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., PURCHASER and THE BANCORP BANK, SELLER MORTGAGE LOAN PURCHASE AGREEMENT Dated as of November 1, 2015 Series 2015-C4Mortgage Loan Purchase Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
to the lesser of $8.6 million and the value of the Mortgaged Property at the time of such partial release, as determined by a FIRREA-compliant appraisal), and (4) delivery of a REMIC opinion that such release is permitted under REMIC requirements.
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., PURCHASER and COLUMN FINANCIAL, INC., SELLER MORTGAGE LOAN PURCHASE AGREEMENT Dated as of November 1, 2015 Series 2015-C4Mortgage Loan Purchase Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
No. 1) insurers may be used, provided that at least 75% of the coverage (if there are 4 or fewer members of the syndicate) or at least 60% of the coverage (if there are 5 or more members of the syndicate) is with carriers having such ratings and the balance of the coverage is, in each case, with insurers having a rating of “BBB+” or better by S&P and by A.M. Best not lower than “A:IX”; In addition, the related Mortgage Loan Documents require that the required business interruption insurance policy covers 100% of projected gross revenues from the operation of the Mortgaged Property (as reduced to reflect expenses not incurred during a period of restoration) rather than the amount of actual losses sustained during restoration; The Mortgage Loan Documents allow for a commercial general liability insurance policy with a coverage limit of $1 million in the aggregate Earthquake insurance is required in amounts and in form and substance acceptable to the lender but not less than the greater o
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., PURCHASER and BENEFIT STREET PARTNERS CRE FINANCE LLC, SELLER MORTGAGE LOAN PURCHASE AGREEMENT Dated as of November 1, 2015 Series 2015-C4Loan Purchase Agreement • November 25th, 2015 • CSAIL 2015-C4 Commercial Mortgage Trust • Asset-backed securities • New York
and the same use and occupancy continued or resumed, provided that such restoration is started within a period of one year and is diligently prosecuted to completion. However, any lot whose buildings are destroyed beyond 90% of their total value, may not be restored to its original use and the land use by such buildings must thereafter be used in conformance with the district regulations. The loan agreement provides that the borrower remains liable for losses following a casualty, for the inability to restore or replace the buildings, structures, fixtures, additions or improvements on the property (including the mobile or manufactured home pads and the mobile or manufactured homes placed thereon) to the same condition and character (including the same number of such pads and the same size (i.e., single wide or double wide) for each specific pad site) as immediately prior to the casualty due to the failure of the property to be in compliance with legal requirements.
