8-K 1 bsc04t14_10501.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: January 12, 2005 (Date of earliest event reported) Commission File No.: 333-86366-06 Bear Stearns Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates Series 2004-TOP14 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 55-6616719 54-2152468 54-2152469 54-2152470 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) (410) 884-2000 Registrant's Full Telephone Number (Former name, former address and former fiscal year, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On January 12, 2005, a distribution was made to holders of Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2004-TOP14. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2004-TOP14, relating to the January 12, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Bear Stearns Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates Series 2004-TOP14 (Registrant) By: Wells Fargo Bank, N.A. as Paying Agent By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: January 12, 2005 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2004-TOP14, relating to the January 12, 2005 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Bear Stearns Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates Series 2004-TOP14 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: January 12, 2005 Record Date: December 31, 2004 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 10 Mortgage Loan Detail 11 - 14 Principal Prepayment Detail 15 Historical Detail 16 Delinquency Loan Detail 17 Specially Serviced Loan Detail 18 - 19 Modified Loan Detail 20 Liquidated Loan Detail 21 Depositor Bear Stearns Commercial Mortgage Securities Inc. 383 Madison Avenue New York, NY 10179 Contact: General Information Number Phone Number: (212) 272-2000 Master Servicer Wells Fargo Bank, N.A. 45 Fremont Street, 2nd Floor investorreporting@wellsfargo.com San Francisco, CA 94105 Contact: Matilde Sanchez Phone Number: (415) 222-2364 Special Servicer ARCap Servicing, Inc. 5605 N. MacArthur Blvd. Irving, TX 75038 Contact: Chris Crouch Phone Number: (972) 580-1688 Ext 333 This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2005, Wells Fargo Bank, N.A.

Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Interest Rate Balance Balance Distribution Distribution A-1 07383FA40 3.570000% 70,000,000.00 6564,~~682~~894,~~523~~732.7470 ~~787~~708,~~791~~144.0413 ~~195~~193,~~405~~061.5183 A-2 07383FA57 4.170000% 152,000,000.00 152,000,000.00 0.00 528,200.00 A-3 07383FA65 4.800000% 122,000,000.00 122,000,000.00 0.00 488,000.00 A-4 07383FA73 5.200000% 442,061,000.00 442,061,000.00 0.00 1,915,597.67 B 07383FA81 5.~~154839~~154538% 23,482,000.00 23,482,000.00 0.00 100,~~871~~865.6072 C 07383FA99 5.~~204839~~204538% 7,827,000.00 7,827,000.00 0.00 33,~~948~~946.5660 D 07383FB23 5.~~234839~~234538% 17,890,000.00 17,890,000.00 0.00 78,~~042~~038.7224 E 07383FB31 5.~~314839~~314538% 8,945,000.00 8,945,000.00 0.00 39,~~617~~615.6945 F 07383FB64 5.~~424839~~424538% 10,064,000.00 10,064,000.00 0.00 45,~~496~~493.3179 G 07383FB72 5.~~424839~~424538% 5,591,000.00 5,591,000.00 0.00 25,~~275~~273.2383 H 07383FB80 5.~~424839~~424538% 7,827,000.00 7,827,000.00 0.00 35,~~383~~381.5155 J 07383FB98 5.405000% 4,472,000.00 4,472,000.00 0.00 20,142.63 K 07383FC22 5.405000% 4,473,000.00 4,473,000.00 0.00 20,147.14 L 07383FC30 5.405000% 2,236,000.00 2,236,000.00 0.00 10,071.32 M 07383FC48 5.405000% 2,236,000.00 2,236,000.00 0.00 10,071.32 N 07383FC55 5.405000% 2,237,000.00 2,237,000.00 0.00 10,075.82 O 07383FC63 5.405000% 2,236,000.00 2,236,000.00 0.00 10,071.32 P 07383FC71 5.405000% 8,945,780.59 8,945,780.59 0.00 40,293.29 R-1 N/A 0.000000% 0.00 0.00 0.00 0.00 R-2 N/A 0.000000% 0.00 0.00 0.00 0.00 R-3 N/A 0.000000% 0.00 0.00 0.00 0.00 Totals 894,522,780.59 ~~890~~889,~~205~~417,~~304~~513.3329 ~~787~~708,~~791~~144.0413 3,~~606~~604,~~711~~347.6452

Class CUSIP Prepayment Realized Loss/ Total Ending Current Penalties Additional Trust Distribution Balance Subordination Fund Expenses Level (1) A-1 07383FA40 0.00 0.00 ~~983~~901,~~196~~205.5596 64,~~894~~186,~~732~~588.7057 12.1920% A-2 07383FA57 0.00 0.00 528,200.00 152,000,000.00 12.1920% A-3 07383FA65 0.00 0.00 488,000.00 122,000,000.00 12.1920% A-4 07383FA73 0.00 0.00 1,915,597.67 442,061,000.00 12.1920% B 07383FA81 0.00 0.00 100,~~871~~865.6072 23,482,000.00 9.5556% C 07383FA99 0.00 0.00 33,~~948~~946.5660 7,827,000.00 8.6768% D 07383FB23 0.00 0.00 78,~~042~~038.7224 17,890,000.00 6.6667% E 07383FB31 0.00 0.00 39,~~617~~615.6945 8,945,000.00 5.66% F 07383FB64 0.00 0.00 45,~~496~~493.3179 10,064,000.00 4.53% G 07383FB72 0.00 0.00 25,~~275~~273.2383 5,591,000.00 3.90% H 07383FB80 0.00 0.00 35,~~383~~381.5155 7,827,000.00 3.02% J 07383FB98 0.00 0.00 20,142.63 4,472,000.00 2.5152% K 07383FC22 0.00 0.00 20,147.14 4,473,000.00 2.01% L 07383FC30 0.00 0.00 10,071.32 2,236,000.00 1.76% M 07383FC48 0.00 0.00 10,071.32 2,236,000.00 1.51% N 07383FC55 0.00 0.00 10,075.82 2,237,000.00 1.26% O 07383FC63 0.00 0.00 10,071.32 2,236,000.00 1.01% P 07383FC71 0.00 0.00 40,293.29 8,945,780.59 0.00% R-1 N/A 0.00 0.00 0.00 0.00 0.00% R-2 N/A 0.00 0.00 0.00 0.00 0.00% R-3 N/A 0.00 0.00 0.00 0.00 0.00% Totals 0.00 0.00 4,~~394~~312,~~502~~491.6865 ~~889~~888,~~417~~709,~~513~~369.2916

Class CUSIP Pass-Through Original Beginning Interest Rate Notional Notional Distribution Amount Amount X-1 07383FB49 0.~~076101~~074508% 894,522,780.59 ~~890~~889,~~205~~417,~~304~~513.3329 5655,~~454~~224.8429 X-2 07383FB56 0.~~508993~~508726% 851,525,000.00 851,525,000.00 ~~361~~360,~~183~~994.6804

Class CUSIP Prepayment Total Ending Penalties Distribution Notional Amount X-1 07383FB49 0.00 5655,~~454~~224.8429 ~~889~~888,~~417~~709,~~513~~369.2916 X-2 07383FB56 0.00 ~~361~~360,~~183~~994.6804 851,525,000.00 (1) Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and dividing the result by (A).

Certificate Factor Detail Class CUSIP Beginning Principal Interest Prepayment Realized Loss/ Ending Balance Distribution Distribution Penalties Additional Balance Trust Fund Expenses A-1 07383FA40 ~~938~~927.~~32176771~~06761000 1110.~~25415771~~11634471 2.~~79150729~~75802614 0.00000000 0.00000000 ~~927~~916.~~06761000~~95126529 A-2 07383FA57 1,000.00000000 0.00000000 3.47500000 0.00000000 0.00000000 1,000.00000000 A-3 07383FA65 1,000.00000000 0.00000000 4.00000000 0.00000000 0.00000000 1,000.00000000 A-4 07383FA73 1,000.00000000 0.00000000 4.33333334 0.00000000 0.00000000 1,000.00000000 B 07383FA81 1,000.00000000 0.00000000 4.~~29569883~~29544843 0.00000000 0.00000000 1,000.00000000 C 07383FA99 1,000.00000000 0.00000000 4.~~33736553~~33711511 0.00000000 0.00000000 1,000.00000000 D 07383FB23 1,000.00000000 0.00000000 4.~~36236557~~36211515 0.00000000 0.00000000 1,000.00000000 E 07383FB31 1,000.00000000 0.00000000 4.~~42903186~~42878144 0.00000000 0.00000000 1,000.00000000 F 07383FB64 1,000.00000000 0.00000000 4.~~52069853~~52044813 0.00000000 0.00000000 1,000.00000000 G 07383FB72 1,000.00000000 0.00000000 4.~~52069934~~52044894 0.00000000 0.00000000 1,000.00000000 H 07383FB80 1,000.00000000 0.00000000 4.~~52069886~~52044845 0.00000000 0.00000000 1,000.00000000 J 07383FB98 1,000.00000000 0.00000000 4.50416592 0.00000000 0.00000000 1,000.00000000 K 07383FC22 1,000.00000000 0.00000000 4.50416723 0.00000000 0.00000000 1,000.00000000 L 07383FC30 1,000.00000000 0.00000000 4.50416816 0.00000000 0.00000000 1,000.00000000 M 07383FC48 1,000.00000000 0.00000000 4.50416816 0.00000000 0.00000000 1,000.00000000 N 07383FC55 1,000.00000000 0.00000000 4.50416629 0.00000000 0.00000000 1,000.00000000 O 07383FC63 1,000.00000000 0.00000000 4.50416816 0.00000000 0.00000000 1,000.00000000 P 07383FC71 1,000.00000000 0.00000000 4.50416703 0.00000000 0.00000000 1,000.00000000 R-1 N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000

Class CUSIP Beginning Interest Prepayment Ending Notional Distribution Penalties Notional Amount Amount X-1 07383FB49 ~~995~~994.~~17343062~~29274758 0.~~06311169~~06173604 0.00000000 ~~994~~993.~~29274758~~50110298 X-2 07383FB56 1,000.00000000 0.~~42416098~~42393828 0.00000000 1,000.00000000

Reconciliation Detail Advance Summary P & I Advances Outstanding 037,089.0066 Master Servicing Advances Outstanding ~~104~~2,124.4238 Reimbursement for Interest on ~~P & I~~ Advances 0.00 paid from general collections

Master Servicing Fee Summary Current Period Accrued Master Servicing Fees 3031,~~578~~425.6396 Less Delinquent Master Servicing Fees 0373.0065 Less Reductions to Master Servicing Fees 0.00 Plus Master Servicing Fees for Delinquent Payments Received ~~2,907~~0.6200 Plus Adjustments for Prior Master Servicing Calculation 0.00 Total Master Servicing Fees Collected 3331,~~486~~052.2531

Certificate Interest Reconciliation Class Accrued Net Aggregate Realized Previously Unpaid Distributable Distributable Certificate Prepayment Losses/ Interest Certificate Certificate Interest Interest Expense (including interest Interest Interest Shortfall Losses thereon) Adjustment A-1 ~~195~~193,~~405~~061.5183 0.00 0.00 0.00 ~~195~~193,~~405~~061.5183 0.00 A-2 528,200.00 0.00 0.00 0.00 528,200.00 0.00 A-3 488,000.00 0.00 0.00 0.00 488,000.00 0.00 A-4 1,915,597.67 0.00 0.00 0.00 1,915,597.67 0.00 X-1 5655,~~454~~224.8429 0.00 0.00 0.00 5655,~~454~~224.8429 0.00 X-2 ~~361~~360,~~183~~994.6804 0.00 0.00 0.00 ~~361~~360,~~183~~994.6804 0.00 B 100,~~871~~865.6072 0.00 0.00 0.00 100,~~871~~865.6072 0.00 C 33,~~948~~946.5660 0.00 0.00 0.00 33,~~948~~946.5660 0.00 D 78,~~042~~038.7224 0.00 0.00 0.00 78,~~042~~038.7224 0.00 E 39,~~617~~615.6945 0.00 0.00 0.00 39,~~617~~615.6945 0.00 F 45,~~496~~493.3179 0.00 0.00 0.00 45,~~496~~493.3179 0.00 G 25,~~275~~273.2383 0.00 0.00 0.00 25,~~275~~273.2383 0.00 H 35,~~383~~381.5155 0.00 0.00 0.00 35,~~383~~381.5155 0.00 J 20,142.63 0.00 0.00 0.00 20,142.63 0.00 K 20,147.14 0.00 0.00 0.00 20,147.14 0.00 L 10,071.32 0.00 0.00 0.00 10,071.32 0.00 M 10,071.32 0.00 0.00 0.00 10,071.32 0.00 N 10,075.82 0.00 0.00 0.00 10,075.82 0.00 O 10,071.32 0.00 0.00 0.00 10,071.32 0.00 P 40,293.29 0.00 0.00 0.00 40,293.29 0.00 Total 4,~~024~~020,~~350~~565.1685 0.00 0.00 0.00 4,~~024~~020,~~350~~565.1685 0.00

Class Interest Remaining Distribution Unpaid Interest A-1 ~~195~~193,~~405~~061.5183 0.00 A-2 528,200.00 0.00 A-3 488,000.00 0.00 A-4 1,915,597.67 0.00 X-1 5655,~~454~~224.8429 0.00 X-2 ~~361~~360,~~183~~994.6804 0.00 B 100,~~871~~865.6072 0.00 C 33,~~948~~946.5660 0.00 D 78,~~042~~038.7224 0.00 E 39,~~617~~615.6945 0.00 F 45,~~496~~493.3179 0.00 G 25,~~275~~273.2383 0.00 H 35,~~383~~381.5155 0.00 J 20,142.63 0.00 K 20,147.14 0.00 L 10,071.32 0.00 M 10,071.32 0.00 N 10,075.82 0.00 O 10,071.32 0.00 P 40,293.29 0.00 Total 4,~~024~~020,~~350~~565.1685 0.00

Other Required Information Available Distribution Amount (1) 4,~~812~~728,~~141~~709.2098 Principal Distribution Amount ~~787~~708,~~791~~144.0413 (a) Principal portion of Scheduled Payments ~~787~~708,~~791~~144.0413 and any Assumed Scheduled Payments (b) Principal Prepayments 0.00 (c) Principal Portion of Balloon Payments 0.00 (d) Liquidation, Condemnation, Purchase, 0.00 and Insurance Proceeds and REO Income Received on a Mortgage Loan Aggregate Number of Outstanding Mortgage Loans 109 Aggregate Unpaid Principal Balance of the Mortgage Loans ~~889~~888,~~417~~716,~~513~~166.2900 Aggregate Scheduled Principal Balance of the Mortgage Loans ~~889~~888,~~417~~709,~~513~~369.2916 Interest Reserve Account Deposits 0114,738.0071 Withdrawals 0.00 Total Master Servicing and Special Servicing Fee Paid 3331,~~486~~052.2531 Master Servicing Fee Paid 3331,~~486~~052.2531 Special Servicing Fee Paid 0.00 Trustee Fee Paid ~~778~~800.9324 Paying Agent Fee Paid 1,~~372~~409.4095 Expense Losses (Additional Trust Fund Expenses) 0.00 (i) Special Servicing and Liquidation Fees 0.00 (ii) Advance Interest 0.00 (iii)Indemnification Expenses 0.00 (iv) Taxes Imposed on the Trust 0.00 (v) Amount of any Advance not Recovered 0.00 upon a Final Recovery Determination (1) The Available Distribution Amount includes any Prepayment Premiums.

Appraisal Reduction Amount None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 4,168,940.66 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 4,168,940.66 Principal: Scheduled Principal 708,144.13 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected 708,144.13 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 Equity Payments Received 0.00 Net Swap Counterparty Payments Received 0.00 Total Other Collected: 0.00 Total Funds Collected 4,877,084.79 Total Funds Distributed Fees: Master Servicing Fee 31,425.96 Trustee Fee 800.24 Certificate Administration Fee 1,409.95 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 33,636.14 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 0.00 Special Servicing Fee 0.00 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 0.00 Total Additional Trust Fund Expenses 0.00 Interest Reserve Deposit 114,738.71 Payments to Certificateholders & Others: Interest Distribution 4,020,565.85 Principal Distribution 708,144.13 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 4,728,709.98 Total Funds Distributed 4,877,084.83

Current Mortgage Loan and Property Stratification Tables Scheduled Balance Scheduled # of Scheduled % of WAM WAC Weighted Balance Loans Balance Agg. (2) Avg DSCR (1) Bal. Below 1,000,000 6 5,~~160~~153,~~940~~963.1793 0.58 ~~134~~133 6.~~1749~~1750 4.~~293714~~292983 1,000,001 to 2,000,000 19 30,~~803~~753,~~204~~350.9368 3.46 ~~123~~122 6.~~0071~~0072 1.~~991305~~991094 2,000,001 to 3,000,000 14 34,~~840~~792,~~639~~909.4212 3.9291 ~~113~~112 5.~~6358~~6357 2.~~011095~~011334 3,000,001 to 4,000,000 16 56,~~611~~527,~~819~~374.5433 6.3736 ~~127~~126 5.~~7476~~7475 1.~~845415~~845623 4,000,001 to 5,000,000 5 22,~~768~~729,~~750~~500.0646 2.56 ~~146~~145 5.~~9423~~9424 1.~~350186~~350212 5,000,001 to 6,000,000 9 5150,~~014~~936,~~423~~165.1796 5.7473 ~~131~~130 5.~~6840~~6839 1.~~712630~~712956 6,000,001 to 7,000,000 6 39,~~845~~805,~~796~~897.2687 4.48 ~~110~~109 5.7051 1.~~609055~~609180 7,000,001 to 8,000,000 5 37,~~779~~752,~~392~~284.8324 4.25 ~~114~~113 5.9206 1.~~914611~~914704 8,000,001 to 9,000,000 3 24,~~998~~973,~~454~~957.2771 2.81 ~~110~~109 5.5944 1.~~574019~~574017 9,000,001 to 10,000,000 3 29,~~199~~170,~~848~~810.0047 3.28 ~~110~~109 5.5232 1.~~833485~~833483 10,000,001 to 15,000,000 12 149,~~568~~456,~~605~~833.4551 16.82 ~~102~~101 5.~~5625~~5624 2.~~200697~~200657 15,000,001 to 20,000,000 3 54,~~838~~815,~~790~~601.3402 6.17 7675 5.~~1291~~1288 2.~~962894~~962574 20,000,001 to 25,000,000 2 43,~~501~~452,~~601~~380.0959 4.89 ~~110~~109 5.9897 1.~~614603~~614547 25,000,001 and greater 6 308,~~485~~388,~~247~~339.7627 34.6870 7877 5.~~1026~~1023 2.~~610019~~610350 Totals 109 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044

State (3) State # of Scheduled % of WAM WAC Weighted Props Balance Agg. (2) Avg DSCR (1) Bal. Alabama 2 5,~~582~~581,~~980~~144.5235 0.63 6463 5.~~0578~~0574 3.~~169496~~168722 Arizona 3 28,~~055~~020,~~308~~117.0346 3.15 ~~109~~108 6.1367 1.~~805854~~805830 Arkansas 1 1,~~540~~537,~~930~~694.0887 0.17 ~~228~~227 6.3000 1.870000 California 30 177,~~223~~066,~~248~~720.1334 19.9392 ~~117~~116 5.~~3785~~3781 2.~~237782~~238238 Colorado 7 73,~~895~~808,~~004~~641.6870 8.31 ~~109~~108 5.9099 1.~~475692~~475751 Delaware 4 102,~~741~~732,~~809~~014.7236 11.5556 6564 4.~~7832~~7831 3.~~383453~~383567 Florida 5 34,~~128~~094,~~038~~846.0683 3.84 ~~104~~103 5.~~5972~~5969 1.~~626192~~626417 Georgia 2 20,~~009~~007,~~053~~663.3077 2.25 7170 4.~~5612~~5611 2.~~528810~~528603 Illinois 2 11,~~038~~024,~~776~~571.4016 1.24 ~~121~~120 5.~~8284~~8283 1.~~677914~~678028 Indiana 1 1,~~311~~310,~~948~~848.5141 0.15 ~~109~~108 6.2400 1.420000 Iowa 1 12,500,000.00 1.41 6564 4.3950 2.190000 Maine 3 22,~~738~~715,~~896~~505.8519 2.56 ~~108~~107 5.7946 1.~~679446~~679439 Maryland 2 18,~~291~~285,~~243~~813.7816 2.06 ~~111~~110 5.8898 1.~~539671~~539745 Massachusetts 4 74,~~363~~314,~~753~~922.5586 8.36 ~~103~~102 5.~~6494~~6493 1.~~985781~~985846 Michigan 3 21,~~358~~332,~~985~~784.9506 2.40 ~~110~~109 5.~~6844~~6843 1.~~325747~~325719 Minnesota 1 1,~~731~~729,~~362~~905.4954 0.19 ~~108~~107 6.2500 2.040000 Missouri 1 3,~~857~~843,~~399~~128.9197 0.43 ~~170~~169 5.6200 1.110000 Nebraska 1 1,~~704~~702,~~499~~872.0607 0.19 ~~108~~107 5.7500 2.680000 Nevada 2 3,~~709~~704,~~008~~282.6141 0.42 7574 5.~~6255~~6257 1.~~670980~~670968 New Jersey 6 32,~~093~~056,~~521~~936.5041 3.61 ~~110~~109 5.5398 2.~~248534~~248598 New York 4 45,~~105~~042,~~103~~582.8253 5.07 8281 5.~~7275~~7276 3.~~873287~~873592 North Carolina 7 35,~~659~~624,~~583~~597.0537 4.01 ~~122~~121 5.~~6167~~6164 1.~~712261~~712439 Ohio 8 34,~~751~~731,~~375~~253.7493 3.91 8079 5.~~2405~~2400 2.~~232944~~233413 Oregon 1 3,~~364~~361,~~860~~874.2383 0.38 ~~109~~108 6.0200 1.320000 Pennsylvania 2 9,~~861~~857,~~950~~857.0380 1.11 ~~108~~107 5.~~3416~~3417 2.~~660531~~660523 South Carolina 1 9,048,160.00 1.02 4645 4.8700 2.750000 Tennessee 1 5,~~872~~859,~~306~~772.5323 0.66 ~~230~~229 6.0700 1.350000 Texas 16 83,~~233~~182,~~444~~796.1309 9.36 8584 5.~~5916~~5914 1.~~873820~~873968 Utah 1 ~~887~~886,~~308~~204.5216 0.10 ~~109~~108 6.5300 1.360000 Virginia 1 5,~~856~~850,~~458~~540.2331 0.66 ~~109~~108 5.4900 2.420000 Washington 1 7,~~901~~893,~~193~~315.8899 0.89 ~~108~~107 5.5700 1.630000 Totals 124 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044

Debt Service Coverage Ratio (1) Debt Service # of Scheduled % of WAM WAC Weighted Coverage Ratio Loans Balance Agg. (2) Avg DSCR (1) Bal. 1.25 or less 12 51,~~633~~531,~~264~~852.0454 5.8180 ~~142~~141 5.8619 0.~~982431~~982396 1.26 to 1.35 11 110,~~859~~725,~~920~~826.2789 12.46 ~~123~~122 5.9412 1.~~292388~~292386 1.36 to 1.45 11 64,~~968~~893,~~199~~736.7970 7.30 ~~117~~116 5.6832 1.~~403772~~403771 1.46 to 1.55 5 36,~~623~~583,~~685~~992.9498 4.12 ~~110~~109 5.8218 1.~~511897~~511902 1.56 to 1.65 8 45,~~559~~516,~~198~~305.9099 5.12 ~~114~~113 5.9235 1.597403 1.66 to 1.75 8 36,~~961~~929,~~268~~126.8462 4.16 ~~110~~109 5.~~8436~~8437 1.~~708973~~708950 1.76 to 1.85 1 6,~~570~~556,~~550~~280.2492 0.74 ~~111~~110 5.8800 1.820000 1.86 or greater 53 ~~536~~535,~~241~~972,~~425~~246.2752 60.2931 8685 5.~~2135~~2132 2.~~767477~~767520 Totals 109 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044

Property Type (3) Property # of Scheduled % of WAM WAC Weighted Type Props Balance Agg. (2) Avg DSCR (1) Bal. Industrial 12 4645,~~022~~970,~~397~~716.5473 5.17 ~~107~~106 5.~~3997~~3993 1.~~820752~~820944 Lodging 1 1615,~~019~~996,~~575~~386.3402 1.80 4645 5.8400 3.720000 Mixed Use 3 19,~~861~~841,~~774~~107.4328 2.23 ~~107~~106 5.7839 1.~~341799~~341804 Multi-Family 12 70,~~947~~886,~~877~~962.9839 7.98 ~~106~~105 5.5370 3.~~206670~~206613 Office 17 ~~295~~294,~~054~~928,~~718~~398.0088 33.1719 8887 5.~~1778~~1776 2.~~561161~~561510 Retail 73 425,~~956~~550,~~428~~951.1386 47.8988 ~~108~~107 5.~~6370~~6368 1.~~836925~~837158 Self Storage 6 15,~~554~~534,~~741~~846.8700 1.75 8988 5.4818 2.~~367814~~367826 Totals 124 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044

Note Rate Note Rate # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 4.500% or less 1 12,500,000.00 1.41 6564 4.3950 2.190000 4.501% to 5.000% 9 237,~~359~~323,~~835~~804.3300 26.6970 7170 4.7003 3.~~080205~~080268 5.001% to 5.500% 16 113,~~521~~453,~~169~~575.5921 12.7677 8786 5.2883 2.~~136072~~136203 5.501% to 6.000% 49 406,~~449~~015,~~295~~285.7713 45.7069 ~~112~~111 5.7755 1.~~739016~~739085 6.001% to 6.500% 30 ~~106~~105,~~116~~965,~~696~~584.5689 11.9392 ~~126~~125 6.1943 2.~~314320~~314469 6.501% or greater 4 13,~~470~~451,~~516~~119.0493 1.51 ~~160~~159 6.5490 1.~~419210~~419368 Totals 109 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044

Seasoning Seasoning # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 12 months or less 9283 ~~672~~643,~~121~~913,~~372~~400.3857 7572.5745 ~~104~~103 5.~~5963~~5920 1.~~986652~~975935 13 to 24 months 1625 ~~204~~231,~~268~~782,~~062~~224.5392 2226.9708 8487 45.~~9892~~0727 2.~~717804~~661460 25 to 36 months 1 13,~~028~~013,~~078~~743.3867 1.46 9291 6.4000 6.300000 37 to 48 months 0 0.00 0.00 0 0.0000 0.000000 49 months and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 109 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044

Anticipated Remaining Term (ARD and Balloon Loans) Anticipated # of Scheduled % of WAM WAC Weighted Remaining Term (2) Loans Balance Agg. (2) Avg DSCR (1) Bal. 60 months or less 7 175,~~990~~955,~~061~~732.1967 19.7980 4847 4.~~9305~~9304 3.~~098343~~098297 61 to 120 months 82 ~~641~~640,~~100~~580,~~882~~994.1119 72.08 ~~105~~104 5.~~5460~~5459 2.~~057804~~057962 121 to 180 months 9 36,~~156~~103,~~196~~609.6064 4.0706 ~~146~~145 6.~~1079~~1080 1.~~673921~~673721 181 months and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 98 ~~853~~852,~~247~~640,~~139~~336.9050 95.9394 9594 5.~~4429~~4427 2.~~256158~~256382

Remaining Stated Term (Fully Amortizing Loans) Remaining Stated # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. 60 months or less 0 0.00 0.00 0 0.0000 0.000000 61 to 120 months 0 0.00 0.00 0 0.0000 0.000000 121 to 180 months 5 14,~~575~~522,~~313~~624.7529 1.6463 ~~170~~169 5.~~9213~~9214 1.~~383459~~383526 181 to 240 months 6 21,~~595~~546,~~059~~408.6437 2.4342 ~~224~~223 6.1813 1.~~263426~~263440 241 months or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 11 36,~~170~~069,~~373~~032.3966 4.0706 ~~202~~201 6.~~0765~~0766 1.~~311795~~311791

Remaining Amortization Term (ARD and Balloon Loans) Remaining Amortization # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. Interest Only 12 302,676,904.00 34.0306 7170 4.8656 2.821620 60 months or less 0 0.00 0.00 0 0.0000 0.000000 61 to 120 months 0 0.00 0.00 0 0.0000 0.000000 121 to 180 months 0 0.00 0.00 0 0.0000 0.000000 181 to 240 months 8 20,~~557~~508,~~177~~779.9934 2.31 ~~145~~144 5.8780 2.~~156797~~156875 241 to 300 months 22 113,~~224~~061,~~380~~617.5954 12.7372 9998 5.8140 1.~~996164~~996142 301 to 360 months 56 416,~~788~~393,~~677~~035.3262 46.8685 ~~109~~108 5.7398 1.~~921043~~921072 361 months or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 98 ~~853~~852,~~247~~640,~~139~~336.9050 95.9394 9594 5.~~4429~~4427 2.~~256158~~256382

Age of Most Recent NOI Age of Most # of Scheduled % of WAM WAC Weighted Recent NOI Loans Balance Agg. (2) Avg DSCR (1) Bal. Underwriter's Information 51 370,~~477~~165,~~377~~599.0379 41.65 ~~108~~107 5.~~5225~~5222 2.~~156333~~156572 1 year or less 5852 ~~518~~454,~~940~~542,~~136~~579.2671 5851.3515 94 5.~~4303~~4409 2.~~261601~~245528 1 to 2 years 06 064,001,189.0066 07.0020 084 05.~~0000~~3524 02.~~000000~~378397 2 years and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 109 ~~889~~888,~~417~~709,~~513~~369.2916 100.00 ~~100~~99 5.~~4687~~4684 2.~~217753~~218044 (1) Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is used. The Trustee makes no representations as to the accuracy of the data provided by the borrower for this calculation. (2) Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity date. (3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date Balance of the related mortgage loan as disclosed in the offering document. Note: (i) An ARD Loan constitutes a "Hyper-Amortization Loan" as defined in the offering document.

Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type (1) City State Payment Payment Coupon 510901400 1 OF Wilmington DE ~~286~~296,~~825~~385.0083 0.00 4.620% 700201379 2 OF Los Angeles CA ~~251~~259,~~407~~787.0023 0.00 4.660% 700201348 3 RT Colorado Springs CO ~~241~~248,~~265~~975.2434 6557,~~139~~429.9383 5.920% 700201416 4 OF Cambridge MA ~~206~~213,~~713~~373.8407 4639,~~137~~478.8966 5.820% 850201257 5 RT Various Various 173,209.67 0.00 4.870% 600873139 6 OF San Antonio TX ~~152~~157,~~843~~938.9271 0.00 5.218% 600873101 7 OF Arlington TX ~~105~~108,~~576~~977.8476 2320,~~648~~248.9604 5.810% 700201329 8 RT Scottsdale AZ ~~111~~115,~~840~~396.9617 3228,~~527~~972.6746 6.170% 310901408 9 MF Greenville DE 8386,~~635~~422.0083 0.00 5.160% 850201197 10 RT Hiram GA 72,795.97 0.00 4.510% 850201268 11 LO New York NY 7880,~~086~~560.8366 2523,~~663~~189.1532 5.840% 310901476 12 MF New York NY 6061,~~046~~939.6930 2523,~~303~~410.4685 5.000% 850500001 13 RT Raynham MA 6668,~~030~~231.00 0.00 5.580% 700201101 14 RT North Miami Beach FL 6365,~~354~~391.4633 1513,~~136~~099.1023 5.750% 700200870 15 MF New York NY 69,~~559~~483.1308 14,~~258~~334.6671 6.400% 850201381 16 RT Lakewood CA 6163,~~872~~866.7510 1311,~~696~~703.9055 5.857% 850201136 17 IN Davenport IA 45,781.25 0.00 4.395% 310901436 18 RT Silver Spring MD 6062,~~777~~803.4637 0.00 5.909% 850201409 19 RT Various Various 47,458.70 0.00 4.632% 700201412 20 OF Bloomfield Hills MI 5758,~~165~~978.0023 1816,~~347~~533.2299 5.840% 700400041 21 OF Portland ME 5456,~~969~~739.0881 1210,~~433~~662.5885 5.750% 850201196 22 Various Portland ME 54,~~955~~893.3368 12,~~667~~728.1681 5.840% 600873102 23 RT Charlotte NC 5153,~~932~~607.8481 109,~~972~~297.9295 5.940% 310901394 24 OF Lakewood CO 4546,~~485~~947.0432 119,~~356~~894.6234 5.510% 700400026 25 RT Ortley Beach NJ 4345,~~659~~062.9199 119,~~194~~791.2416 5.420% 600873103 26 RT Plymouth MA 4546,~~405~~866.8384 109,~~813~~352.0403 5.640% 850201421 27 RT San Diego CA 4041,~~100~~390.7726 98,~~885~~595.1566 5.545% 600873104 28 RT Northfield OH 3940,~~188~~450.9905 98,~~298~~037.8276 5.650% 600873105 29 RT Kitty Hawk NC 3738,~~383~~586.7019 97,~~065~~863.6314 5.590% 600873137 30 RT Tacoma WA 3637,~~716~~897.7520 97,~~058~~877.3489 5.570% 850201397 31 RT Elk Grove CA 4243,~~092~~454.5136 75,~~337~~975.1126 6.525% 600873140 32 RT Rio Grande NJ 3536,~~156~~328.2513 0.00 5.625% 310901288 33 RT Santa Maria CA 3738,~~714~~930.0789 76,~~687~~470.1129 6.090% 600873106 34 MF Various TX 3436,~~878~~001.1835 76,~~908~~785.3215 5.790% 700400004 35 RT Midland MI 3132,~~018~~015.5918 87,~~004~~007.5798 5.420% 600873107 36 RT Pinellas Park FL 3234,~~997~~060.5030 76,~~444~~381.5373 5.790% 310901427 37 OF West Palm Beach FL 3132,~~424~~435.3640 76,~~570~~559.1410 5.590% 600873108 38 RT Bergenfield NJ 3233,~~270~~268.5189 1514,~~267~~269.7032 5.880% 600873109 39 MU Santa Monica CA 3233,~~209~~248.74 65,~~719~~680.26 5.990% 600873141 40 RT Phoenixville PA 2930,~~733~~724.3344 0.00 5.575% 600873110 41 OF Owings Mills MD 29,~~030~~965.2484 65,~~366~~430.2262 5.850% 600873111 42 RT Cary NC 2728,~~672~~549.7117 98,~~531~~655.7125 5.600% 600873112 43 IN Bolingbrook IL 30,~~256~~210.3471 8,~~916~~962.8447 6.140% 600873113 44 RT Franklin TN 2930,~~772~~694.1522 1312,~~456~~534.3730 6.070% 600873114 45 RT Alexandria VA 2627,~~824~~686.3141 65,~~780~~917.0292 5.490% 850201335 46 SS San Diego CA 2526,~~530~~349.0860 6,~~839~~020.8634 5.345% 310901336 47 RT Grass Valley CA 2425,~~979~~712.1250 2019,~~399~~666.4608 5.650% 700201022 48 RT Wilmington DE 2425,~~545~~331.0095 65,~~614~~827.4146 5.480% 850201308 49 RT Burbank IL 2324,~~431~~184.6546 5,~~995~~242.5877 5.470% 600873138 50 RT Tucson AZ 2425,~~358~~144.9521 54,~~265~~480.8963 5.890% 310901133 51 OF Modesto CA 23,~~190~~903.0759 11,~~971~~257.2270 5.770% 600873115 52 IN Rancho Cordova CA 2223,~~531~~217.2228 12,~~812~~126.2317 5.890% 600873116 53 RT Fort Collins CO 22,~~060~~761.6454 65,~~558~~857.1929 6.100% 600873117 54 RT Fort Collins CO 2021,~~819~~481.7321 65,~~189~~527.2981 6.100% 600873118 55 RT Lee`s Summit MO 18,~~134~~667.8267 14,~~803~~270.7994 5.620% 600873119 56 RT Highlands Ranch CO 20,~~035~~671.0088 5,~~826~~190.9507 6.170% 600873120 57 RT Diamond Bar CA 19,~~529~~508.2688 4,~~029~~049.0240 6.070% 600873121 58 IN Commerce CA 17,~~284~~265.6211 4,~~196~~215.0758 5.580% 600873122 59 MF Austin TX 1718,~~526~~090.3941 43,~~143~~579.6664 5.660% 600873123 60 RT Madeira OH 1920,~~712~~317.9000 98,~~468~~864.5242 6.500% 600873124 61 IN Secaucus NJ 1617,~~975~~522.6108 3,~~941~~395.6215 5.710% 600873125 62 MF Irving TX 1617,~~758~~298.8979 3,~~755~~215.1828 5.790% 700201181 63 RT North Fayette Townshi PA 14,~~183~~637.7532 4,~~545~~092.8023 4.910% 600873126 64 MF Various TX 1617,~~722~~260.4192 3,~~791~~253.6615 5.790% 600873127 65 RT Duck NC 18,~~951~~910.2648 7,~~391~~432.6543 6.620% 410901395 66 RT Fresno CA 17,~~069~~597.2622 7,~~965~~437.4650 5.980% 700201098 67 RT Newark DE 1415,~~569~~035.1834 43,~~434~~967.0690 5.100% 410901381 68 MF Eugene OR 1617,~~898~~443.0906 32,~~530~~985.3740 6.020% 600873128 69 IN San Diego CA 1415,~~926~~406.7552 3,~~799~~319.0528 5.440% 410901451 70 SS Long Beach CA 12,~~313~~700.2367 5,~~564~~176.2884 4.800% 410901453 71 MU Palo Alto CA 1213,~~750~~159.7275 3,~~611~~202.5956 5.140% 410901460 72 IN Van Nuys CA 14,~~186~~636.2606 4,~~668~~219.8101 5.740% 410901439 73 RT Campbell CA 1314,~~789~~233.0416 32,~~134~~690.5745 5.750% 700201309 74 MF Haddonfield NJ 1112,~~649~~022.4104 3,~~724~~351.0441 4.890% 410901443 75 RT Macomb Township MI 13,~~133~~555.1282 32,~~082~~659.6292 5.680% 410901383 76 IN Rancho Cucamonga CA 1213,~~817~~223.1742 43,~~217~~811.6944 5.780% 410901435 77 RT Torrance CA 10,~~496~~833.6558 2,~~866~~529.6875 5.250% 410901382 78 OF El Paso TX 12,~~333~~725.3159 3,~~498~~106.7648 6.250% 310901411 79 RT Chico CA 11,~~766~~739.3141 5,~~300~~327.3121 6.090% 600873129 80 RT Daphne AL 4,~~315~~448.0451 1,~~969~~836.6417 6.110% 600873130 81 RT Wake Forest NC 4,~~081~~208.7905 1,~~863~~736.1791 6.110% 600873131 82 RT Douglasville GA 3,~~265~~366.4344 1,~~490~~389.5453 6.110% 700201192 83 RT West Hollywood CA 10,~~332~~664.6553 2,~~668~~336.8597 5.460% 410901386 84 SS Reno NV 9,~~497~~797.9773 3,~~732~~432.3761 5.240% 600873132 85 RT Jacksonville FL 11,~~210~~542.2220 7,~~483~~151.1517 6.470% 410901468 86 RT Vacaville CA 10,~~107~~433.9666 21,~~240~~914.6191 5.820% 410901424 87 IN Kearny Mesa CA 910,~~809~~125.7954 21,~~312~~996.1641 5.650% 600873133 88 IN Fairfield NJ 8,~~634~~608.0565 5,~~752~~778.6505 5.300% 600873142 89 RT Santa Monica CA 10,~~115~~414.3990 76,~~016~~717.7221 6.235% 850500004 90 RT Various OH 7,~~921~~908.7101 3,~~205~~219.9363 5.125% 600873134 91 RT Highlands Ranch CO 9,~~510~~812.2960 2,~~765~~463.9564 6.170% 410901396 92 RT Fresno CA 89,~~778~~050.4800 43,~~096~~825.5200 5.980% 410901347 93 RT Elk River MN 9,~~026~~318.6210 1,~~748~~456.4395 6.250% 850201333 94 RT Fremont NE 8,~~176~~439.4564 1,~~890~~626.1899 5.750% 850201413 95 RT Mesquite TX 8,~~504~~774.2840 2,~~572~~302.7664 6.026% 410901376 96 SS Wildomar CA 8,~~434~~706.8485 1,~~768~~496.4544 6.010% 410901465 97 RT Macedon NY 78,~~906~~161.7633 1,~~840~~586.9841 5.670% 410901370 98 RT Hot Springs Village AR 8,~~108~~359.1955 3,~~486~~235.5721 6.300% 410901428 99 OF Las Vegas NV 78,~~913~~169.9653 1,~~549~~293.1659 6.170% 410901360 100 SS Converse TX 78,~~903~~154.1942 2,~~283~~032.3916 6.210% 410901261 101 IN Rancho Dominguez CA 7,~~093~~318.2307 2,~~343~~118.3753 5.750% 410901393 102 RT Dallas TX 7,~~751~~981.3300 54,~~113~~884.7306 6.520% 410901425 103 RT League City TX 7,~~327~~564.7522 1,~~477~~241.9144 6.120% 410901378 104 SS Kingman AZ 7,~~477~~715.2442 1,~~975~~737.6648 6.500% 620901447 105 IN Van Nuys CA 7,~~057~~282.9965 1,~~963~~738.3872 6.270% 600873135 106 RT Indianapolis IN 67,~~829~~049.0054 1,~~320~~100.6410 6.240% 410901423 107 RT Colorado Springs CO 5,233.33 0.00 6.280% 410901268 108 OF San Mateo CA 45,~~865~~022.3410 ~~1,066~~909.0327 5.900% 600873136 109 RT Riverdale UT 4,~~835~~989.2939 1,~~258~~104.4636 6.530% Totals 4,~~057~~168,~~080~~940.1766 ~~787~~708,~~791~~144.0413

Loan Anticipated Maturity Neg. Beginning Ending Paid Thru Number Repayment Date Amort Scheduled Scheduled Date Date (Y/N) Balance Balance 510901400 N/A 01/01/2009 N 74,500,000.00 74,500,000.00 1201/01/~~2004~~2005 700201379 N/A 07/01/2013 N 64,740,000.00 64,740,000.00 1201/01/~~2004~~2005 700201348 N/A 01/01/2014 N 48,~~905~~839,~~115~~976.9805 48,~~839~~782,~~976~~546.0522 1201/01/~~2004~~2005 700201416 N/A 02/08/2014 N 42,~~621~~575,~~409~~271.6071 42,~~575~~535,~~271~~793.7105 1201/08/~~2004~~2005 850201257 10/01/2008 10/01/2033 N 42,680,000.00 42,680,000.00 1201/01/~~2004~~2005 600873139 N/A 01/01/2009 N 35,150,000.00 35,150,000.00 1201/01/~~2004~~2005 600873101 N/A 02/01/2014 N 21,~~805~~782,~~888~~239.7478 21,~~782~~761,~~239~~991.7874 1201/01/~~2004~~2005 700201329 N/A 01/01/2014 N 21,~~751~~719,~~888~~361.9831 21,~~719~~690,~~361~~388.3185 1201/01/~~2004~~2005 310901408 N/A 01/01/2014 N 19,450,000.00 19,450,000.00 1201/01/~~2004~~2005 850201197 N/A 08/01/2010 N 19,369,215.00 19,369,215.00 1201/01/~~2004~~2005 850201268 N/A 10/01/2008 N 16,~~045~~019,~~238~~575.4934 1615,~~019~~996,~~575~~386.3402 1201/01/~~2004~~2005 310901476 N/A 03/01/2014 N 14,~~411~~385,~~205~~902.5408 14,~~385~~362,~~902~~491.0823 1201/01/~~2004~~2005 850500001 N/A 03/01/2014 N 14,200,000.00 14,200,000.00 1201/01/~~2004~~2005 700201101 N/A 06/01/2013 N 13,~~221~~206,~~799~~663.4636 13,~~206~~193,~~663~~564.3613 1201/01/~~2004~~2005 700200870 N/A 08/01/2012 N 13,~~042~~028,~~337~~078.0438 13,~~028~~013,~~078~~743.3867 1201/01/~~2004~~2005 850201381 N/A 01/01/2014 N 12,~~676~~662,~~677~~981.9606 12,~~662~~651,~~981~~277.0651 1201/01/~~2004~~2005 850201136 N/A 05/01/2010 N 12,500,000.00 12,500,000.00 1201/01/~~2004~~2005 310901436 N/A 03/01/2014 N 12,342,689.00 12,342,689.00 1201/01/~~2004~~2005 850201409 N/A 06/01/2010 N 12,295,000.00 12,295,000.00 1201/01/~~2004~~2005 700201412 N/A 02/01/2014 N 11,~~746~~727,~~232~~885.5028 11,~~727~~711,~~885~~351.2829 1201/01/~~2004~~2005 700400041 N/A 04/01/2014 N 11,~~471~~459,~~807~~373.0345 11,~~459~~448,~~373~~710.4560 1201/01/~~2004~~2005 850201196 N/A 08/01/2013 N 11,~~292~~279,~~190~~523.5640 11,~~279~~266,~~523~~794.4059 1201/01/~~2004~~2005 600873102 N/A 04/01/2016 N 10,~~491~~480,~~482~~509.3644 10,~~480~~471,~~509~~211.4449 1201/01/~~2004~~2005 310901394 N/A 02/01/2014 N 9,~~905~~894,~~997~~640.2866 9,~~894~~884,~~640~~746.6632 1201/01/~~2004~~2005 700400026 N/A 03/01/2014 N 9,~~666~~655,~~399~~205.7450 9,~~655~~645,~~205~~414.5034 1201/01/~~2004~~2005 600873103 N/A 02/01/2014 N 9,~~660~~650,~~814~~001.8884 9,~~650~~640,~~001~~649.8481 1201/01/~~2004~~2005 850201421 N/A 02/01/2014 N 8,~~678~~668,~~254~~369.5944 8,~~668~~659,~~369~~773.4478 1201/01/~~2004~~2005 600873104 N/A 02/01/2014 N 8,~~323~~314,~~325~~026.4765 8,~~314~~305,~~026~~988.6589 1201/01/~~2004~~2005 600873105 N/A 02/01/2014 N 8,~~025~~016,~~123~~058.8118 8,~~016~~008,~~058~~195.1804 1201/01/~~2004~~2005 600873137 N/A 12/01/2013 N 7,~~910~~901,~~252~~193.2288 7,~~901~~893,~~193~~315.8899 1201/01/~~2004~~2005 850201397 N/A 02/01/2016 N 7,~~741~~733,~~150~~813.5140 7,~~733~~727,~~813~~838.4014 1201/01/~~2004~~2005 600873140 N/A 01/01/2014 N 7,500,000.00 7,500,000.00 1201/01/~~2004~~2005 310901288 N/A 01/01/2014 N 7,~~431~~423,~~342~~655.9988 7,~~423~~417,~~655~~185.8859 1201/01/~~2004~~2005 600873106 N/A 01/01/2014 N 7,~~228~~220,~~637~~729.9967 7,~~220~~213,~~729~~944.6752 1201/01/~~2004~~2005 700400004 N/A 02/01/2014 N 6,~~867~~859,~~584~~579.5699 6,~~859~~852,~~579~~572.9901 1201/01/~~2004~~2005 600873107 N/A 02/01/2014 N 6,~~838~~831,~~859~~414.5198 6,~~831~~825,~~414~~033.9825 1201/01/~~2004~~2005 310901427 N/A 03/01/2014 N 6,~~745~~738,~~838~~268.6248 6,~~738~~731,~~268~~709.4838 1201/01/~~2004~~2005 600873108 N/A 03/01/2014 N 6,~~585~~570,~~817~~550.9424 6,~~570~~556,~~550~~280.2492 1201/01/~~2004~~2005 600873109 N/A 03/01/2014 N 6,~~452~~445,~~701~~982.8357 6,~~445~~440,~~982~~302.5731 1201/01/~~2004~~2005 600873141 N/A 01/01/2014 N 6,400,000.00 6,400,000.00 1201/01/~~2004~~2005 600873110 N/A 03/01/2014 N 5,~~954~~948,~~921~~554.0078 5,~~948~~943,~~554~~124.7816 1201/01/~~2004~~2005 600873111 N/A 03/01/2014 N 5,~~929~~920,~~867~~335.2958 5,~~920~~911,~~335~~680.5833 1201/01/~~2004~~2005 600873112 N/A 01/01/2016 N 5,~~913~~904,~~290~~373.4056 5,~~904~~895,~~373~~411.5609 1201/01/~~2004~~2005 600873113 N/A 02/01/2024 N 5,~~885~~872,~~762~~306.9053 5,~~872~~859,~~306~~772.5323 1201/01/~~2004~~2005 600873114 N/A 01/01/2014 N 5,~~863~~856,~~238~~458.2523 5,~~856~~850,~~458~~540.2331 1201/01/~~2004~~2005 850201335 12/01/2013 01/01/2034 N 5,~~731~~724,~~729~~889.5266 5,~~724~~718,~~889~~869.6632 1201/01/~~2004~~2005 310901336 N/A 01/01/2019 N 5,~~305~~284,~~298~~899.9953 5,~~284~~265,~~899~~233.5345 1201/01/~~2004~~2005 700201022 N/A 01/01/2013 N 5,~~374~~368,~~816~~202.8746 5,~~368~~362,~~202~~375.4600 1201/01/~~2004~~2005 850201308 N/A 12/01/2013 N 5,~~140~~134,~~398~~402.4284 5,~~134~~129,~~402~~160.8407 1201/01/~~2004~~2005 600873138 N/A 03/01/2014 N 4,~~962~~957,~~774~~508.4556 4,~~957~~953,~~508~~027.5693 1201/01/~~2004~~2005 310901133 N/A 07/01/2023 N 4,~~822~~810,~~890~~919.5735 4,~~810~~799,~~919~~661.3565 1201/01/~~2004~~2005 600873115 N/A 02/01/2019 N 4,~~590~~577,~~400~~588.9269 4,~~577~~565,~~588~~462.6952 1201/01/~~2004~~2005 600873116 N/A 01/01/2014 N 4,~~339~~333,~~797~~239.2607 4,~~333~~327,~~239~~381.0778 1201/01/~~2004~~2005 600873117 N/A 01/01/2014 N 4,~~095~~089,~~683~~494.6839 4,~~089~~083,~~494~~966.3958 1201/01/~~2004~~2005 600873118 N/A 02/03/2019 N 3,~~872~~857,~~203~~399.7091 3,~~857~~843,~~399~~128.9197 1201/03/~~2004~~2005 600873119 N/A 01/01/2014 N 3,~~896~~890,~~596~~769.9398 3,~~890~~885,~~769~~579.9891 1201/01/~~2004~~2005 600873120 N/A 01/01/2014 N 3,~~860~~856,~~808~~779.3533 3,~~856~~852,~~779~~729.3393 1201/01/~~2004~~2005 600873121 N/A 03/01/2014 N 3,~~717~~712,~~123~~927.1306 3,~~712~~708,~~927~~711.0648 1201/01/~~2004~~2005 600873122 N/A 02/01/2014 N 3,~~715~~711,~~842~~698.5286 3,~~711~~708,~~698~~119.8622 1201/01/~~2004~~2005 600873123 N/A 03/01/2022 N 3,~~639~~629,~~305~~836.0452 3,~~629~~620,~~836~~972.5210 1201/01/~~2004~~2005 600873124 N/A 02/01/2014 N 3,~~567~~563,~~553~~612.8018 3,~~563~~560,~~612~~217.1803 1201/01/~~2004~~2005 600873125 N/A 03/01/2014 N 3,~~473~~469,~~344~~589.1800 3,~~469~~466,~~589~~373.0072 1201/01/~~2004~~2005 700201181 N/A 09/01/2013 N 3,~~466~~461,~~495~~950.8303 3,~~461~~457,~~950~~857.0380 1201/01/~~2004~~2005 600873126 N/A 01/01/2014 N 3,~~465~~461,~~785~~993.3973 3,~~461~~458,~~993~~740.7358 1201/01/~~2004~~2005 600873127 N/A 02/01/2024 N 3,~~435~~427,~~273~~881.5994 3,~~427~~420,~~881~~449.9451 1201/01/~~2004~~2005 410901395 N/A 01/01/2019 N 3,~~425~~417,~~269~~304.5711 3,~~417~~409,~~304~~866.1161 1201/01/~~2004~~2005 700201098 N/A 05/01/2013 N 3,~~428~~423,~~041~~607.3226 3,~~423~~419,~~607~~639.2636 1201/01/~~2004~~2005 410901381 N/A 01/01/2014 N 3,~~368~~364,~~390~~860.6023 3,~~364~~361,~~860~~874.2383 12/01/2004 600873128 N/A 03/01/2014 N 3,~~292~~288,~~666~~867.2621 3,~~288~~285,~~867~~547.2193 1201/01/~~2004~~2005 410901451 N/A 03/01/2009 N 3,~~078~~072,~~306~~742.4719 3,~~072~~067,~~742~~565.1935 1201/01/~~2004~~2005 410901453 N/A 04/01/2014 N 2,~~976~~973,~~820~~209.6809 2,~~973~~970,~~209~~006.0953 1201/01/~~2004~~2005 410901460 N/A 03/01/2014 N 2,~~965~~961,~~768~~099.8099 2,~~961~~956,~~099~~880.9998 1201/01/~~2004~~2005 410901439 N/A 03/01/2014 N 2,~~877~~874,~~713~~579.6205 2,~~874~~871,~~579~~888.0560 1201/01/~~2004~~2005 700201309 N/A 11/01/2013 N 2,~~858~~855,~~750~~026.0703 2,~~855~~851,~~026~~674.0362 1201/01/~~2004~~2005 410901443 N/A 02/01/2014 N 2,~~774~~771,~~603~~520.3068 2,~~771~~768,~~520~~860.6876 1201/01/~~2004~~2005 410901383 N/A 01/01/2014 N 2,~~661~~656,~~004~~787.8516 2,~~656~~652,~~787~~975.1672 12/01/2004 410901435 N/A 03/01/2009 N 2,~~399~~396,~~234~~367.5385 2,~~396~~393,~~367~~838.8510 1201/01/~~2004~~2005 410901382 N/A 01/01/2014 N 2,~~367~~364,~~994~~496.9216 2,~~364~~361,~~496~~389.1668 1201/01/~~2004~~2005 310901411 N/A 02/01/2024 N 2,~~318~~313,~~485~~185.5322 2,~~313~~307,~~185~~858.2201 1201/01/~~2004~~2005 600873129 N/A 11/01/2018 N ~~847,470.16~~ 845,500.52 12843,664.35 01/01/~~2004~~2005 600873130 N/A 11/01/2018 N ~~801,661.08~~ 799,797.91 12798,061.00 01/01/~~2004~~2005 600873131 N/A 11/01/2018 N ~~641,328.84~~ 639,838.30 12638,448.77 01/01/~~2004~~2005 700201192 N/A 11/01/2013 N 2,~~270~~268,~~912~~243.4257 2,~~268~~265,~~243~~906.5760 1201/01/~~2004~~2005 410901386 N/A 01/01/2009 N 2,~~175~~171,~~108~~375.1881 2,~~171~~167,~~375~~943.8120 1201/01/~~2004~~2005 600873132 N/A 01/01/2019 N 2,~~079~~071,~~174~~691.3924 2,~~071~~064,~~691~~540.2407 1201/01/~~2004~~2005 410901468 N/A 03/01/2014 N 2,~~084~~081,~~114~~874.6605 2,~~081~~079,~~874~~959.0514 1201/01/~~2004~~2005 410901424 N/A 03/01/2014 N 2,~~083~~081,~~495~~183.6852 2,~~081~~079,~~183~~187.5211 1201/01/~~2004~~2005 600873133 N/A 03/03/2014 N 1,~~954~~949,~~880~~127.2055 1,~~949~~943,~~127~~349.5550 1201/03/~~2004~~2005 600873142 N/A 03/01/2019 N 1,~~946~~939,~~827~~810.6189 1,~~939~~933,~~810~~093.8968 1201/01/~~2004~~2005 850500004 03/01/2011 03/01/2029 N 1,~~854~~851,~~838~~632.5057 1,~~851~~848,~~632~~412.5794 1201/01/~~2004~~2005 600873134 N/A 01/01/2014 N 1,~~849~~846,~~650~~884.4853 1,~~846~~844,~~884~~420.5389 1201/01/~~2004~~2005 410901396 N/A 01/01/2019 N 1,~~761~~757,~~567~~470.1967 1,~~757~~753,~~470~~645.67 1201/01/~~2004~~2005 410901347 N/A 12/01/2013 N 1,~~733~~731,~~110~~362.9249 1,~~731~~729,~~362~~905.4954 1201/01/~~2004~~2005 850201333 12/01/2013 12/13/2033 N 1,~~706~~704,~~389~~499.2406 1,~~704~~702,~~499~~872.0607 1201/01/~~2004~~2005 850201413 N/A 02/01/2014 N 1,~~693~~690,~~517~~944.0529 1,~~690~~688,~~944~~641.2965 1201/01/~~2004~~2005 410901376 N/A 01/01/2014 N 1,~~684~~682,~~160~~392.5005 1,~~682~~680,~~392~~895.0561 1201/01/~~2004~~2005 410901465 N/A 04/01/2014 N 1,~~673~~671,~~389~~548.0002 1,~~671~~669,~~548~~961.0261 1201/01/~~2004~~2005 410901370 N/A 12/01/2023 N 1,~~544~~540,~~416~~930.6508 1,~~540~~537,~~930~~694.0887 1201/01/~~2004~~2005 410901428 N/A 03/01/2014 N 1,~~539~~537,~~181~~632.9680 1,~~537~~536,~~632~~339.8021 1201/01/~~2004~~2005 410901360 N/A 12/01/2013 N 1,~~527~~524,~~187~~904.3900 1,~~524~~522,~~904~~871.0084 1201/01/~~2004~~2005 410901261 N/A 02/01/2014 N 1,~~480~~477,~~326~~982.2285 1,~~477~~475,~~982~~864.8532 1201/01/~~2004~~2005 410901393 N/A 01/01/2019 N 1,~~426~~421,~~625~~512.9118 1,~~421~~416,~~512~~628.18 12 01/01/~~2004~~2005 410901425 N/A 01/01/2014 N 1,~~436~~435,~~814~~336.3746 1,~~435~~434,~~336~~095.4602 1201/01/~~2004~~2005 410901378 N/A 12/01/2013 N 1,~~380~~378,~~413~~438.8216 1,~~378~~376,~~438~~700.1668 1201/01/~~2004~~2005 620901447 N/A 03/01/2014 N 1,~~350~~348,~~811~~847.1577 1,~~348~~347,~~847~~109.7705 1201/01/~~2004~~2005 600873135 N/A 01/01/2014 N 1,~~313~~311,~~269~~948.1551 1,~~311~~310,~~948~~848.5141 1201/01/~~2004~~2005 410901423 N/A 01/01/2014 N 1,000,000.00 1,000,000.00 1201/01/~~2004~~2005 410901268 N/A 12/01/2013 N ~~989,560.95~~ 988,494.92 12987,585.65 01/01/~~2004~~2005 600873136 N/A 01/01/2014 N ~~888,566.98~~ 887,308.52 12886,204.16 01/01/~~2004~~2005 Totals ~~890,205,304.33~~ 889,417,513.29 888,709,369.16

Principal Prepayment Detail No Principal Prepayments this Period

Historical Detail Delinquencies Distribution 30-59 Days 60-89 Days 90 Days or More Date # Balance # Balance # Balance 01/12/2005 0 $0.00 0 $0.00 0 $0.00 12/13/2004 0 $0.00 0 $0.00 0 $0.00 11/12/2004 0 $0.00 0 $0.00 0 $0.00 10/12/2004 0 $0.00 0 $0.00 0 $0.00 09/13/2004 0 $0.00 0 $0.00 0 $0.00 08/12/2004 0 $0.00 0 $0.00 0 $0.00 07/12/2004 0 $0.00 0 $0.00 0 $0.00 06/14/2004 0 $0.00 0 $0.00 0 $0.00

Distribution Foreclosure REO Modifications Date # Balance # Balance # Balance 01/12/2005 0 $0.00 0 $0.00 0 $0.00 12/13/2004 0 $0.00 0 $0.00 0 $0.00 11/12/2004 0 $0.00 0 $0.00 0 $0.00 10/12/2004 0 $0.00 0 $0.00 0 $0.00 09/13/2004 0 $0.00 0 $0.00 0 $0.00 08/12/2004 0 $0.00 0 $0.00 0 $0.00 07/12/2004 0 $0.00 0 $0.00 0 $0.00 06/14/2004 0 $0.00 0 $0.00 0 $0.00

Prepayments Rate and Maturities Distribution Curtailments Payoff Next Weighted Avg. WAM Date # Amount # Amount Coupon Remit 01/12/2005 0 $0.00 0 $0.00 5.468382% 5.424265% 99 12/13/2004 0 $0.00 0 $0.00 5.468656% 5.424538% 100 11/12/2004 0 $0.00 0 $0.00 5.468959% 5.424839% 101 10/12/2004 0 $0.00 0 $0.00 5.469229% 5.425107% 102 09/13/2004 0 $0.00 0 $0.00 5.469528% 5.425404% 103 08/12/2004 0 $0.00 0 $0.00 5.469794% 5.425669% 104 07/12/2004 0 $0.00 0 $0.00 5.470059% 5.425932% 105 06/14/2004 0 $0.00 0 $0.00 5.470352% 5.426223% 106 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.

Specially Serviced Loan Detail - Part 1 No Specially Serviced Loans this Period Specially Serviced Loan Detail - Part 2 No Specially Serviced Loans this Period Modified Loan Detail No Modified Loans Liquidated Loan Detail No Liquidated Loans this Period

Filing Compare · BEAR STEARNS COMMERCIAL MORTGAGE SEC INC TRUST 2004 TOP14