8-K 1 bsc04pr3.txt JUNE 8-K 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: June 11, 2004 (Date of earliest event reported) Commission File No.: 333-86366-05 Bear Stearns Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates Series 2004-PWR3 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-6601024 54-6601025 54-2147318 54-2147319 54-2147320 (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) ITEM 5. Other Events On June 11, 2004, a distribution was made to holders of Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2004-PWR3. ITEM 7. Financial Statements and Exhibits (c) Exhibits Item 601(a) of Regulation S-K Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2004-PWR3, relating to the June 11, 2004 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-PWR3 By: Wells Fargo Bank, N.A. as Certificate Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: June 11, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2004-PWR3, relating to the June 11, 2004 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-PWR3 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: June 11, 2004 Record Date: May 28, 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 Master Servicer Prudential Asset Resources, Inc. 2200 Ross Avenue, Suite 4900E Dallas, TX 75201 Contact: Hal Collett Phone Number: (214) 721-6032 General 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 Servicer, 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 2004, Wells Fargo Bank, N.A.

Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Interest Rate Balance Balance Distribution Distribution A1 07383FYE2 3.236000% 186,500,000.00 ~~186~~184,~~500~~234,~~000~~560.0027 1,~~071~~080,~~990~~966.1007 ~~502~~496,~~928~~819.3320 A2 07383FYF9 3.869000% 150,000,000.00 150,000,000.00 0.00 483,625.00 A3 07383FYG7 4.487000% 158,000,000.00 158,000,000.00 0.00 590,788.33 A4 07383FYH5 4.715000% 469,869,000.00 469,869,000.00 0.00 1,846,193.61 B 07383FYJ1 4.810000% 26,326,000.00 26,326,000.00 0.00 105,523.38 C 07383FYK8 4.850000% 12,471,000.00 12,471,000.00 0.00 50,403.63 D 07383FYL6 4.889000% 16,627,000.00 16,627,000.00 0.00 67,741.17 E 07383FYM4 4.998000% 9,699,000.00 9,699,000.00 0.00 40,396.34 F 07383FYQ5 5.199000% 15,241,000.00 15,241,000.00 0.00 66,031.63 G 07383FYR3 5.305000% 11,085,000.00 11,085,000.00 0.00 49,004.94 H 07383FYS1 5.~~729856~~729309% 13,856,000.00 13,856,000.00 0.00 66,~~160~~154.7442 J 07383FYT9 5.025000% 2,771,000.00 2,771,000.00 0.00 11,603.56 K 07383FYU6 5.025000% 5,542,000.00 5,542,000.00 0.00 23,207.13 L 07383FYV4 5.025000% 6,928,000.00 6,928,000.00 0.00 29,011.00 M 07383FYW2 5.025000% 5,543,000.00 5,543,000.00 0.00 23,211.31 N 07383FYX0 5.025000% 2,771,000.00 2,771,000.00 0.00 11,603.56 P 07383FYY8 5.025000% 2,771,000.00 2,771,000.00 0.00 11,603.56 Q 07383FYZ5 5.025000% 12,470,769.00 12,470,769.00 0.00 52,221.35 R-I N/A 0.000000% 0.00 0.00 0.00 0.00 R-II N/A 0.000000% 0.00 0.00 0.00 10.0699 R-III N/A 0.000000% 0.00 0.00 0.00 0.00 V N/A 0.000000% 0.00 0.00 0.00 0.00 Totals 1,108,470,769.00 1,~~108~~106,~~470~~205,~~769~~329.0027 1,~~071~~080,~~990~~966.1007 4,~~031~~025,~~259~~144.6311

Class CUSIP Prepayment Realized Loss/ Total Ending Current Penalties Additional Trust Distribution Balance Subordination Fund Expenses Level (1) A1 07383FYE2 0.00 0.00 1,~~574~~577,~~918~~785.4327 ~~185~~183,~~428~~153,~~009~~594.9020 13.0104% A2 07383FYF9 0.00 0.00 483,625.00 150,000,000.00 13.0104% A3 07383FYG7 0.00 0.00 590,788.33 158,000,000.00 13.0104% A4 07383FYH5 0.00 0.00 1,846,193.61 469,869,000.00 13.0104% B 07383FYJ1 0.00 0.00 105,523.38 26,326,000.00 10.6466% C 07383FYK8 0.00 0.00 50,403.63 12,471,000.00 9.5153% D 07383FYL6 0.00 0.00 67,741.17 16,627,000.00 8.0102% E 07383FYM4 0.00 0.00 40,396.34 9,699,000.00 7.1315% F 07383FYQ5 0.00 0.00 66,031.63 15,241,000.00 5.7677% G 07383FYR3 0.00 0.00 49,004.94 11,085,000.00 4.7576% H 07383FYS1 0.00 0.00 66,~~160~~154.7442 13,856,000.00 3.5051% J 07383FYT9 0.00 0.00 11,603.56 2,771,000.00 3.2526% K 07383FYU6 0.00 0.00 23,207.13 5,542,000.00 2.7576% L 07383FYV4 0.00 0.00 29,011.00 6,928,000.00 2.13% M 07383FYW2 0.00 0.00 23,211.31 5,543,000.00 1.63% N 07383FYX0 0.00 0.00 11,603.56 2,771,000.00 1.38% P 07383FYY8 0.00 0.00 11,603.56 2,771,000.00 1.13% Q 07383FYZ5 0.00 0.00 52,221.35 12,470,769.00 0.00% R-I N/A 0.00 0.00 0.00 0.00 0.00% R-II N/A 0.00 0.00 10.0699 0.00 0.00% R-III N/A 0.00 0.00 0.00 0.00 0.00% V N/A 0.00 0.00 0.00 0.00 0.00% Totals 0.00 0.00 5,~~103~~106,~~249~~110.7318 1,~~107~~105,~~398~~124,~~778~~363.9020

Class CUSIP Pass-Through Original Beginning Interest Rate Notional Notional Distribution Amount Amount X1 07383FYN2 0.~~071876~~066902% 1,108,470,769.00 1,~~108~~106,~~470~~205,~~769~~329.0027 6661,~~393~~672.4955 X2 07383FYP7 1.~~337424~~336881% 1,072,357,000.00 1,072,357,000.00 1,~~195~~194,~~162~~677.9580

Class CUSIP Prepayment Total Ending Penalties Distribution Notional Amount X1 07383FYN2 0.00 6661,~~393~~672.4955 1,~~107~~105,~~398~~124,~~778~~363.9020 X2 07383FYP7 0.00 1,~~195~~194,~~162~~677.9580 1,072,357,000.00 (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 A1 07383FYE2 ~~1,000~~987.~~00000000~~85287008 5.~~74793619~~79606472 2.~~69666665~~66390992 0.00000000 0.00000000 ~~994~~982.~~25206381~~05680536 A2 07383FYF9 1,000.00000000 0.00000000 3.22416667 0.00000000 0.00000000 1,000.00000000 A3 07383FYG7 1,000.00000000 0.00000000 3.73916665 0.00000000 0.00000000 1,000.00000000 A4 07383FYH5 1,000.00000000 0.00000000 3.92916666 0.00000000 0.00000000 1,000.00000000 B 07383FYJ1 1,000.00000000 0.00000000 4.00833321 0.00000000 0.00000000 1,000.00000000 C 07383FYK8 1,000.00000000 0.00000000 4.04166707 0.00000000 0.00000000 1,000.00000000 D 07383FYL6 1,000.00000000 0.00000000 4.07416672 0.00000000 0.00000000 1,000.00000000 E 07383FYM4 1,000.00000000 0.00000000 4.16500052 0.00000000 0.00000000 1,000.00000000 F 07383FYQ5 1,000.00000000 0.00000000 4.33249984 0.00000000 0.00000000 1,000.00000000 G 07383FYR3 1,000.00000000 0.00000000 4.42083356 0.00000000 0.00000000 1,000.00000000 H 07383FYS1 1,000.00000000 0.00000000 4.~~77488020~~77442408 0.00000000 0.00000000 1,000.00000000 J 07383FYT9 1,000.00000000 0.00000000 4.18749910 0.00000000 0.00000000 1,000.00000000 K 07383FYU6 1,000.00000000 0.00000000 4.18750090 0.00000000 0.00000000 1,000.00000000 L 07383FYV4 1,000.00000000 0.00000000 4.18750000 0.00000000 0.00000000 1,000.00000000 M 07383FYW2 1,000.00000000 0.00000000 4.18749955 0.00000000 0.00000000 1,000.00000000 N 07383FYX0 1,000.00000000 0.00000000 4.18749910 0.00000000 0.00000000 1,000.00000000 P 07383FYY8 1,000.00000000 0.00000000 4.18749910 0.00000000 0.00000000 1,000.00000000 Q 07383FYZ5 1,000.00000000 0.00000000 4.18750039 0.00000000 0.00000000 1,000.00000000 R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 V 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 X1 07383FYN2 ~~1,000~~997.~~00000000~~95624766 0.~~05989647~~05563751 0.00000000 ~~999~~996.~~03291081~~98106085 X2 07383FYP7 1,000.00000000 1.~~11451965~~11406724 0.00000000 1,000.00000000

Reconciliation Detail Advance Summary P & I Advances Outstanding 1,~~484~~055,~~285~~215.2808 Servicing Advances Outstanding 0.00 Reimbursement for Interest on Advances 0.00 paid from general collections

Servicing Fee Breakdowns Current Period Accrued Master Servicing Fees 39,~~986~~902.6171 Less Delinquent Master Servicing Fees 6,~~680~~349.6755 Less Reductions to Master Servicing Fees 0.00 Plus Master Servicing Fees for Delinquent Payments Received 08,607.0036 Plus Adjustments for Prior Master Servicing Calculation 0.00 Total Master Servicing Fees Collected 3342,~~305~~160.9452

Certificate Interest Reconciliation Class Accrued Net Aggregate Distributable Distributable Certificate Prepayment Certificate Certificate Interest Interest Interest Interest Shortfall Adjustment A1 ~~502~~496,~~928~~819.3320 0.00 ~~502~~496,~~928~~819.3320 0.00 A2 483,625.00 0.00 483,625.00 0.00 A3 590,788.33 0.00 590,788.33 0.00 A4 1,846,193.61 0.00 1,846,193.61 0.00 X1 6661,~~393~~672.4955 0.00 6661,~~393~~672.4955 0.00 X2 1,~~195~~194,~~162~~677.9580 0.00 1,~~195~~194,~~162~~677.9580 0.00 B 105,523.38 0.00 105,523.38 0.00 C 50,403.63 0.00 50,403.63 0.00 D 67,741.17 0.00 67,741.17 0.00 E 40,396.34 0.00 40,396.34 0.00 F 66,031.63 0.00 66,031.63 0.00 G 49,004.94 0.00 49,004.94 0.00 H 66,~~160~~154.7442 0.00 66,~~160~~154.7442 0.00 J 11,603.56 0.00 11,603.56 0.00 K 23,207.13 0.00 23,207.13 0.00 L 29,011.00 0.00 29,011.00 0.00 M 23,211.31 0.00 23,211.31 0.00 N 11,603.56 0.00 11,603.56 0.00 P 11,603.56 0.00 11,603.56 0.00 Q 52,221.35 0.00 52,221.35 0.00 Total 5,~~292~~281,~~815~~493.0147 0.00 5,~~292~~281,~~815~~493.0147 0.00

Remaining Class Additional Interest ~~Remaining~~Unpaid Trust Fund Distribution ~~Unpaid~~Distributable Expenses Certificate Interest A1 0.00 ~~502~~496,~~928~~819.3320 0.00 A2 0.00 483,625.00 0.00 A3 0.00 590,788.33 0.00 A4 0.00 1,846,193.61 0.00 X1 0.00 6661,~~393~~672.4955 0.00 X2 0.00 1,~~195~~194,~~162~~677.9580 0.00 B 0.00 105,523.38 0.00 C 0.00 50,403.63 0.00 D 0.00 67,741.17 0.00 E 0.00 40,396.34 0.00 F 0.00 66,031.63 0.00 G 0.00 49,004.94 0.00 H 0.00 66,~~160~~154.7442 0.00 J 0.00 11,603.56 0.00 K 0.00 23,207.13 0.00 L 0.00 29,011.00 0.00 M 0.00 23,211.31 0.00 N 0.00 11,603.56 0.00 P 0.00 11,603.56 0.00 Q 0.00 52,221.35 0.00 Total 0.00 5,~~292~~281,~~815~~493.0147 0.00

Other Required Information Available Distribution Amount (1) 6,~~364~~362,~~806~~460.1753 Principal Distribution Amount 1,~~071~~080,~~990~~966.1012 (a) Principal portion of Scheduled Payments 1,~~071~~080,~~990~~966.1012 and any Assumed Scheduled Payments (b) Principal Prepayments/Adjustments 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 Interest Reserve Account Deposits 0.00 Withdrawals 0.00 Aggregate Number of Outstanding Mortgage Loans 118 Aggregate Unpaid Principal Balance of the Mortgage Loans 1,~~107~~105,~~792~~432,~~105~~824.8655 Aggregate Scheduled Principal Balance of the Mortgage Loans 1,~~107~~105,~~398~~124,~~986~~570.4575 ~~Interest Reserve Account Deposits 0.00 Withdrawals 0.00~~ Total Servicing and Special Servicing Fee Paid 3342,~~305~~160.9452 Servicing Fee Paid 3342,~~305~~160.9452 Special Servicing Fee Paid 0.00 Trustee Fee paid ~~912~~910.4457 Paying Agent Fee paid 1,~~368~~365.6685 Report Administrator Fee paid 277.7007 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 5,323,950.68 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 5,323,950.68 Principal: Scheduled Principal 1,080,966.12 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 1,080,966.12 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 6,404,916.80 Total Funds Distributed Fees: Master Servicing Fee 39,902.71 Trustee Fee 910.57 Certificate Administration Fee 1,365.85 Insurer Fee 0.00 Servicer Report Administrator Fee 277.07 Total Fees 42,456.20 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 0.00 Payments to Certificateholders & Others: Interest Distribution 5,281,494.46 Principal Distribution 1,080,966.07 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 6,362,460.53 Total Funds Distributed 6,404,916.73

Ratings Detail Class CUSIP Original Ratings Current Ratings (1) Fitch Moody's S & P Fitch Moody's S & P A1 07383FYE2 AAA X AAA AAA X AAA A2 07383FYF9 AAA X AAA AAA X AAA A3 07383FYG7 AAA X AAA AAA X AAA A4 07383FYH5 AAA X AAA AAA X AAA X1 07383FYN2 AAA X AAA AAA X AAA X2 07383FYP7 AAA X AAA AAA X AAA B 07383FYJ1 AA X AA AA X AA C 07383FYK8 AA- X AA- AA- X AA- D 07383FYL6 A X A A X A E 07383FYM4 A- X A- A- X A- F 07383FYQ5 BBB+ X BBB+ BBB+ X BBB+ G 07383FYR3 BBB X BBB BBB X BBB H 07383FYS1 BBB- X BBB- BBB- X BBB- J 07383FYT9 BB+ X BB+ BB+ X BB+ K 07383FYU6 BB X BB BB X BB L 07383FYV4 BB- X BB- BB- X BB- M 07383FYW2 B+ X B+ B+ X B+ N 07383FYX0 B X B B X B P 07383FYY8 B- X B- B- X B- Q 07383FYZ5 ~~N/A~~NR X N/A NR X N/A NR - Designates that the class was not rated by the above agency at the time of original issuance. X - Designates that the above rating agency did not rate any classes in this transaction at the time of original issuance. N/A - Data not available this period. 1) For any class not rated at the time of original issuance by any particular rating agency, no request has been made subsequent to issuance to obtain rating information, if any, from such rating agency. The current ratings were obtained directly from the applicable rating agency within 30 days of the payment date listed above. The ratings may have changed since they were obtained. Because the ratings may have changed, you may want to obtain current ratings directly from the rating agencies. Fitch, Inc. One State Street Plaza New York, New York 10004 (212) 908-0500 Moody's Investors Service 99 Church Street New York, New York 10007 (212) 553-0300 Standard & Poor's Rating Services 55 Water Street New York, New York 10041 (212) 438-2430

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 999,999 0 0.00 0.00 0 0.0000 0.000000 1,000,000 to 1,999,999 1011 1819,~~015~~975,~~496~~567.8013 1.6381 ~~116~~107 5.~~7976~~7644 1.~~936255~~881460 2,000,000 to 3,999,999 3231 9795,~~523~~274,~~973~~683.7147 8.8162 9796 5.~~7214~~7266 1.~~597415~~602113 4,000,000 to 5,999,999 23 ~~115~~114,~~006~~786,~~867~~583.9329 10.39 ~~103~~101 5.~~6749~~6747 1.~~798757~~799324 6,000,000 to 7,999,999 13 93,~~308~~073,~~935~~849.7610 8.4342 ~~109~~107 5.6682 1.~~646941~~647139 8,000,000 to 9,999,999 12 108,~~847~~547,~~466~~133.9955 9.8382 ~~132~~130 5.~~8563~~8564 1.~~423152~~423240 10,000,000 to 11,999,999 7 78,~~948~~792,~~352~~643.9620 7.13 ~~127~~125 5.~~6017~~6008 1.~~937419~~937992 12,000,000 to 15,999,999 6 84,~~819~~708,~~797~~577.3554 7.6667 ~~115~~113 5.~~8201~~8202 1.~~520364~~520500 16,000,000 to 19,999,999 3 51,~~799~~734,~~879~~236.2249 4.68 ~~117~~115 6.~~0877~~0878 1.~~629859~~629995 20,000,000 to 29,999,999 4 101,~~206~~145,~~693~~036.8828 9.1415 9391 5.~~0403~~0400 2.~~595753~~596476 Above 30,000,000 8 357,~~921~~086,~~521~~260.8569 32.3231 9391 5.~~4982~~4971 2.~~231698~~233052 Totals 118 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742

State (3) State # of Scheduled % of WAM WAC Weighted Props Balance Agg. (2) Avg DSCR (1) Bal. Alaska 1 3,~~283~~272,~~765~~979.6536 0.30 5755 5.0000 1.620358 Arizona 5 15,~~178~~142,~~308~~417.2205 1.37 ~~131~~129 6.~~1234~~1230 1.~~400361~~400552 California 31 191,~~877~~529,~~449~~917.2158 17.33 ~~105~~103 5.~~4554~~4551 2.~~092578~~093819 Colorado 1 48,~~844~~739,~~366~~385.1380 4.41 ~~111~~109 5.5170 1.528214 Florida 12 7978,~~061~~923,~~264~~864.8156 7.14 9088 5.5868 1.~~608834~~608994 Georgia 7 24,~~088~~053,~~240~~472.6266 2.18 9593 5.~~4090~~4084 2.~~315926~~317115 Idaho 1 3,~~340~~334,~~764~~715.1649 0.30 ~~117~~115 6.1300 1.414701 Illinois 4 36,~~760~~707,~~453~~335.6907 3.32 ~~105~~103 5.~~8555~~8552 1.~~701309~~701744 Iowa 1 6,~~751~~703,~~539~~681.3268 0.61 ~~106~~104 5.6100 1.235163 Kansas 4 16,~~908~~885,~~108~~454.7627 1.53 8583 5.~~0747~~0735 3.~~128037~~130305 Kentucky 4 3,735,021.94 0.34 5755 4.2600 4.665821 Maryland 6 36,~~116~~064,~~462~~020.4080 3.26 ~~114~~112 5.~~7793~~7792 2.~~054665~~055174 Massachusetts 3 7,457,710.38 0.67 5755 4.2600 4.665821 Michigan 2 18,~~766~~725,~~640~~595.65 1.69 ~~118~~116 5.5994 1.~~439534~~439533 Minnesota 3 16,~~232~~197,~~978~~414.3090 1.47 ~~115~~113 5.7985 1.~~426779~~426751 Nebraska 1 4,~~033~~022,~~089~~220.8919 0.36 7876 6.2950 1.402622 Nevada 7 31,~~199~~138,~~775~~629.8523 2.82 9391 5.~~6284~~6287 1.~~546091~~546137 New Jersey 2 14,~~423~~375,~~560~~726.9124 1.30 ~~141~~139 5.~~7212~~7208 2.~~213017~~214054 New York 20 ~~181~~180,~~246~~910,~~967~~183.7502 16.37 ~~110~~108 5.5985 1.~~865854~~866126 North Carolina 2 35,~~552~~503,~~692~~245.0236 3.21 7775 5.~~1099~~1083 2.~~378382~~379469 Ohio 2 10,~~404~~384,~~469~~514.9207 0.94 ~~115~~113 5.9116 1.~~634186~~634184 Oregon 3 12,~~304~~289,~~982~~503.6113 1.11 ~~127~~125 6.~~0411~~0413 1.~~433697~~433655 Pennsylvania 10 ~~194~~193,~~173~~517,~~711~~962.4575 17.5351 ~~111~~109 5.~~9405~~9398 1.~~603141~~603003 Rhode Island 1 10,000,000.00 0.90 5856 4.5310 2.774308 South Carolina 2 8,~~293~~288,~~033~~469.8039 0.75 8886 4.~~9820~~9814 2.~~515777~~516391 Texas 21 72,~~357~~294,~~769~~086.5242 6.5354 9997 5.~~3409~~3402 2.~~814888~~816164 Utah 2 1514,~~013~~974,~~844~~496.0481 1.36 8583 5.3897 1.~~478186~~478112 Washington 3 9,~~992~~952,~~014~~547.8032 0.90 ~~138~~136 6.~~3149~~3154 1.~~416247~~416732 Totals 161 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742

Debt Service Coverage Ratio (1) Debt Service # of Scheduled % of WAM WAC Weighted Coverage Ratio Loans Balance Agg. (2) Avg DSCR (1) Bal. 1.249 or Less 6 29,~~765~~615,~~099~~046.3101 2.6968 ~~182~~180 6.~~2275~~2280 1.~~210163~~210149 1.250 to 1.299 6 66,~~662~~432,~~414~~314.7927 6.0201 ~~106~~104 5.~~6844~~6845 1.~~269584~~269576 1.300 to 1.349 7 53,~~271~~128,~~478~~874.5207 4.81 ~~124~~122 5.~~9060~~9059 1.~~325542~~325548 1.350 to 1.399 14 ~~157~~156,~~289~~986,~~929~~819.4212 14.2021 ~~114~~112 5.9351 1.~~375971~~375972 1.400 to 1.449 19 117,~~957~~709,~~483~~401.8806 10.65 ~~106~~104 5.7780 1.~~423573~~423574 1.450 to 1.499 6 36,~~770~~707,~~807~~990.4467 3.32 ~~111~~109 5.~~9917~~9918 1.~~467151~~467148 1.500 to 1.549 7 7271,~~041~~884,~~682~~918.9013 6.5150 ~~110~~108 5.6488 1.528946 1.550 to 1.599 13 84,~~647~~458,~~300~~598.8700 7.64 ~~103~~101 5.7373 1.~~581081~~581080 1.600 to 1.799 11 ~~146~~145,~~296~~752,~~031~~111.1639 13.2119 ~~109~~107 5.~~8733~~8722 1.~~689748~~689760 1.800 to 1.999 10 99,~~581~~518,~~264~~682.9996 89.9901 9997 5.~~8892~~8894 1.~~890650~~890674 2.00 or Greater 19 ~~243~~242,~~115~~929,~~493~~815.1708 21.9598 8482 4.~~7634~~7631 3.~~393106~~393859 Totals 118 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742

Property Type (3) Property # of Scheduled % of WAM WAC Weighted Type Props Balance Agg. (2) Avg DSCR (1) Bal. Industrial 52 131,~~939~~841,~~147~~599.2428 11.9193 7472 4.~~7122~~7114 3.~~811161~~813007 Mixed Use 2 6,~~209~~195,~~306~~102.3293 0.56 ~~115~~113 6.~~4039~~4038 1.~~484360~~484336 Mobile Home Park 7 7372,~~061~~964,~~746~~738.0643 6.60 8381 5.~~6701~~6704 1.~~356002~~356121 Multi-Family 21 123,~~349~~158,~~294~~711.0677 11.14 ~~102~~100 5.4291 1.~~691428~~691450 Office 16 247,~~892~~095,~~841~~464.1341 22.3936 ~~117~~115 6.~~0524~~0521 1.~~604465~~604642 Retail 51 ~~483~~482,~~841~~900,~~442~~527.2805 43.6970 ~~111~~109 5.~~6321~~6319 1.~~744647~~744983 Self Storage 12 4140,~~105~~968,~~209~~427.7023 3.71 9896 5.~~5497~~5496 1.~~759004~~759102 Totals 161 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742

Note Rate Note Rate # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 4.2599% or Less 0 0.00 0.00 0 0.0000 0.000000 4.2600% to 4.7499% 6 138,220,000.00 12.4851 6260 4.4329 4.061938 4.7500% to 5.2499% 15 100,~~582~~344,~~382~~710.2953 9.08 9694 5.1241 2.~~158797~~158931 5.2500% to 5.4999% 18 142,~~700~~433,~~483~~147.1087 12.89 9593 5.3771 1.~~724132~~724643 5.5000% to 5.7499% 18 191,~~914~~480,~~423~~551.6343 17.33 ~~111~~109 5.5687 1.~~525285~~525366 5.7500% to 5.9999% 27 ~~222~~221,~~030~~656,~~272~~901.4122 20.0506 ~~110~~108 5.~~8713~~8714 1.~~590874~~591105 6.0000% to 6.2499% 19 157,~~934~~623,~~739~~155.4684 14.26 ~~120~~118 6.0909 1.~~398432~~398514 6.2500% to 6.4999% 10 ~~126~~125,~~389~~807,~~642~~173.3923 11.4138 ~~123~~121 6.3084 1.~~614712~~614628 6.5000% or Greater 5 27,~~627~~558,~~043~~930.1764 2.49 ~~160~~158 6.~~6466~~6465 1.~~391252~~391301 Totals 118 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742

Seasoning Seasoning # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 12 Months or Less 117 1,~~103~~101,~~398~~124,~~986~~570.4575 99.64 ~~105~~103 5.~~6097~~6092 1.~~923869~~924624 13 to 24 Months 1 4,000,000.00 0.36 7068 5.2450 2.786053 25 to 36 Months 0 0.00 0.00 0 0.0000 0.000000 37 Months or Greater 0 0.00 0.00 0 0.0000 0.000000 Totals 118 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742

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 21 ~~200~~199,~~187~~974,~~705~~827.8312 18.0810 5755 4.~~7978~~7972 2.~~823432~~824921 61 to 84 Months 8 87,~~649~~624,~~954~~225.0600 7.9193 7977 5.~~4163~~4162 2.~~767432~~767738 85 to 120 Months 79 ~~754~~753,~~762~~018,~~278~~181.0209 68.1614 ~~115~~113 5.~~7917~~7915 1.~~647309~~647369 121 Months or Greater 4 29,~~896~~820,~~574~~463.4716 2.70 ~~165~~163 6.~~4382~~4383 1.~~329344~~329376 Totals 112 1,~~072~~070,~~496~~437,~~512~~696.3837 96.8586 ~~102~~100 5.~~5936~~5931 1.~~949518~~950207

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 84 Months 0 0.00 0.00 0 0.0000 0.000000 85 to 120 Months 0 0.00 0.00 0 0.0000 0.000000 121 Months or Greater 6 34,~~902~~686,~~474~~874.0737 3.1514 ~~196~~194 6.~~0628~~0636 1.~~234509~~234456 Totals 6 34,~~902~~686,~~474~~874.0737 3.1514 ~~196~~194 6.~~0628~~0636 1.~~234509~~234456

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 10 130,663,600.00 11.8082 6260 4.4793 3.812997 60 Months or Less 0 0.00 0.00 0 0.0000 0.000000 61 to 84 Months 0 0.00 0.00 0 0.0000 0.000000 85 to 120 Months 0 0.00 0.00 0 0.0000 0.000000 121 Months or Greater 102 ~~941~~939,~~832~~774,~~912~~096.3837 85.0504 ~~108~~106 5.~~7481~~7479 1.~~690992~~691210 Totals 112 1,~~072~~070,~~496~~437,~~512~~696.3837 96.8586 ~~102~~100 5.~~5936~~5931 1.~~949518~~950207

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 118 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742 1 Year or Less 0 0.00 0.00 0 0.0000 0.000000 1 to 2 Years 0 0.00 0.00 0 0.0000 0.000000 2 Years or Greater 0 0.00 0.00 0 0.0000 0.000000 Totals 118 1,~~107~~105,~~398~~124,~~986~~570.4575 100.00 ~~105~~103 5.~~6083~~6078 1.~~926983~~927742 (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 510901455 2 OF Philadelphia PA ~~175~~174,~~530~~312.1878 112,202.24 6.300% 850201269 3 OF Philadelphia PA 328,~~863~~255.3561 5253,~~506~~114.5226 6.090% 850201183 4 RT Aurora CO ~~232~~231,~~277~~780.2386 48,~~384~~880.3572 5.517% 506105208 5 RT Clay NY 188,~~568~~142.0495 45,~~164~~589.6574 5.110% 850201321 6 OF New York NY 200,513.17 0.00 5.910% 850201220 7 RT San Diego CA 136,~~319~~027.4879 28,~~418~~710.8958 5.520% 510901361 8 MH North Fort Myers FL 144,~~480~~169.5900 31,~~417~~728.1372 5.350% 506105243 9 MF King of Prussia PA 111,182.36 0.00 5.270% 850201407 10 RT Hickory NC 89,298.46 0.00 4.531% 506105253 11 RT Villa Park IL 100,~~589~~409.4564 15,~~286~~466.9475 6.160% 506105094 12 RT San Diego CA 88,802.08 0.00 6.250% 310901352 13 RT Natrona Heights PA 82,~~304~~146.1520 14,~~341~~499.5146 5.840% 310901369 14 RT Stockton CA 78,~~489~~333.4580 14,~~516~~672.6126 5.714% 506105155 15 MF Auburn Hills MI 72,~~330~~182.7583 14,~~445~~592.0092 5.490% 850201379 16 RT Irving TX 76,919.83 0.00 5.975% 510901364 17 MH Vero Beach FL 70,086.18 0.00 6.020% 506105197 18 RT Peachtree City GA 64,~~457~~334.8872 11,~~136~~259.2945 5.860% 310901401 19 RT Hanover MD 6362,~~063~~944.0307 10,~~628~~747.7874 5.918% 310901321 20 RT Albertville MN 59,~~446~~329.1063 10,~~735~~851.1865 5.770% 506105188 21 OF Mineola NY 66,~~788~~523.8643 22,~~609~~874.2871 6.490% 610901341 22 RT High Point NC 64,~~288~~023.7664 23,~~492~~757.5870 6.260% 506105248 23 MF Rensselaer NY 53,044.44 0.00 5.500% 506105111 24 OF New York NY 49,918.61 0.00 5.270% 506105070 25 SS Maspeth NY 48,~~694~~540.8758 16,~~575~~729.0231 5.150% 850201403 26 RT Middletown RI 37,758.33 0.00 4.531% 850201431 27 MF Riverside CA 47,~~791~~695.6719 9,~~301~~397.3381 5.550% 310901388 28 OF Champaign IL 50,~~744~~648.7735 8,~~632~~729.8830 5.910% 506105232 29 OF Walnut Creek CA 46,~~849~~513.0215 3435,~~753~~089.2310 5.480% 506105191 30 RT San Pablo CA 47,~~225~~133.2109 8,~~455~~547.8597 5.790% 506105251 31 RT Poughkeepsie NY 46,~~520~~389.5040 12,~~232~~363.1222 5.850% 310901345 32 RT Allentown PA 4544,~~057~~970.6456 8,~~047~~134.4957 5.750% 310901374 33 RT Tulare CA 43,~~654~~526.7564 12,~~431~~559.6273 5.650% 506105237 34 RT Modesto CA 42,~~568~~480.5332 8,~~588~~677.9617 5.510% 506105116 35 RT Georgetown TX 49,~~851~~725.3121 10,~~228~~354.4656 6.620% 506105160 36 OF Various FL 47,~~350~~233.9441 9,~~471~~589.6922 6.650% 506105224 37 MF Houston TX 40,~~530~~450.6748 7,~~497~~577.4766 5.700% 310901209 38 RT Lawrence KS 41,~~465~~349.7790 10,~~574~~690.2007 5.970% 506105088 39 RT Aberdeen MD 37,~~210~~131.2032 7,~~694~~773.7159 5.510% 506105217 40 IN North Las Vegas NV 39,~~783~~708.8785 6,~~699~~774.5355 5.920% 506105085 41 RT Springfield NJ 40,~~409~~236.1511 1516,~~833~~006.0610 6.080% 850201435 42 MF Philadelphia PA 32,~~919~~844.6959 8,~~165~~240.8797 5.004% 510901384 43 MH Farr West UT 34,~~859~~784.3214 7,~~580~~655.1230 5.350% 506104976 44 OF Midvale UT 34,~~907~~800.7693 10,~~835~~942.8063 5.430% 506105298 45 RT Reno NV 36,270.86 0.00 5.770% 310901208 46 IN Glen Burnie MD 37,~~735~~669.8733 5,~~480~~547.8438 6.330% 310901359 47 MH Morgan Hill CA 35,~~092~~027.4321 5,~~720~~785.7395 6.010% 506105223 48 IN Waterloo IA 32,~~727~~497.7971 23,~~231~~461.6169 5.610% 506105202 49 MF River Edge NJ 30,~~763~~696.5099 6,~~761~~828.4900 5.310% 506105240 50 OF Cincinnati OH 32,~~449~~387.4498 5,~~511~~572.3076 5.900% 506105146 51 OF Portland OR 29,~~672~~614.5781 5,~~341~~399.8056 5.750% 850201393 52 RT Tallahassee FL 22,541.73 0.00 4.531% 310901387 53 SS Monterey Park CA 27,~~889~~806.5004 8,~~293~~376.4793 5.530% 850201405 54 RT Spartanburg SC 21,798.33 0.00 4.510% 850201274 55 RT Delray Beach FL 28,~~896~~825.2876 6,~~499~~570.8032 5.865% 850201339 56 RT Brooklyn NY 28,~~875~~820.4041 4,~~933~~988.3837 5.900% 510901365 57 MH Riverbank CA 27,370.93 0.00 6.020% 310901373 58 RT Chico CA 27,~~552~~501.1922 4,~~428~~479.7370 6.060% 310901343 59 IN Vernon CA 2524,~~058~~983.0948 7,~~369~~444.8950 5.560% 510901362 60 MH Eugene OR 28,330.90 0.00 6.327% 506105282 61 RT Rotterdam NY 25,~~511~~277.3323 23,~~172~~407.9000 5.750% 506105139 62 IN Millersville MD 23,947.50 0.00 5.400% 850201275 63 MF Brooklyn NY 26,~~683~~634.6305 4,~~325~~375.7937 6.040% 506105174 64 RT Macon GA 24,~~886~~836.2836 4,~~681~~731.8375 5.690% 850201263 65 MF Bronx NY 14,~~462~~432.7929 23,~~992~~022.1565 5.480% 850201235 66 MF Yonkers NY 9,~~243~~223.5286 1,~~933~~952.1783 5.470% 850201240 67 RT Tacoma WA 27,~~480~~434.2638 3,~~620~~665.0896 6.540% 850201262 68 MF Bronx NY 22,~~156~~109.5683 4,~~583~~630.8861 5.480% 850201283 69 RT Port St. Lucie FL 20,~~469~~424.9521 4,~~787~~832.1488 5.180% 310901377 70 RT Mesa AZ 21,~~294~~254.9461 3,~~616~~657.7912 5.900% 506105220 71 MF Dublin PA 18,~~592~~551.1620 4,~~247~~288.2420 5.220% 600873025 72 OF Lincoln NE 21,~~889~~830.4686 5,~~039~~097.2888 6.295% 850201230 73 RT Mansfield OH 20,~~561~~521.0543 3,~~538~~578.7840 5.930% 506105101 74 RT Amarillo TX 21,~~513~~465.3354 4,~~110~~158.9170 6.210% 850201048 75 RT Lombard IL 17,483.33 0.00 5.245% 506105215 76 RT Auburn WA 20,~~627~~485.3260 13,~~235~~376.1082 6.050% 850201388 77 RT Lombard IL 15,560.42 0.00 4.850% 850201433 78 MU Huntington Beach CA 21,~~581~~525.2870 4,~~558~~614.7230 6.560% 850201261 79 MF Bronx NY 17,~~931~~893.7997 3,~~709~~747.8466 5.480% 850201294 80 RT Stony Brook NY 18,~~297~~243.1729 5,~~181~~235.1503 5.700% 506105184 81 RT Tucson AZ 19,~~136~~102.8165 2,~~888~~922.7288 6.190% 410901385 82 SS Sparks NV 15,~~808~~759.9834 5,~~233~~283.8549 5.240% 506105163 83 SS Novi MI 18,~~248~~198.8480 4,~~473~~523.1822 6.080% 506105136 84 MF Philadelphia PA 16,~~712~~662.0306 4,~~927~~977.5956 5.570% 510901391 85 MH Phoenix AZ 16,720.01 0.00 5.715% 506105216 86 OF Henderson NV 17,~~839~~806.2381 2,~~786~~818.5699 6.110% 410901390 87 SS Reno NV 15,~~111~~064.8541 5,~~003~~050.0650 5.240% 506105213 88 RT Post Falls ID 17,~~648~~617.9418 2,~~716~~748.8561 6.130% 410901132 89 RT Rocklin CA 16,~~225~~176.6536 4,~~748~~797.3160 5.700% 410901407 90 MF Eagle River AK 14,~~160~~114.5329 5,~~130~~177.9418 5.000% 410901392 91 SS Gardnerville NV 14,~~392~~347.2405 4,~~764~~810.8100 5.240% 850201267 92 RT Dallas TX 16,~~877~~847.8575 2,~~517~~547.2434 6.250% 620901164 93 OF Minneapolis MN 15,~~172~~126.0968 4,~~330~~375.2162 5.750% 850201232 94 MF Bronx NY 13,~~362~~333.1574 2,~~794~~822.5394 5.470% 506105054 95 RT Kendall FL 11,~~948~~909.8724 4,~~354~~394.4508 5.050% 850201229 96 RT Geneva NY 14,~~238~~212.8631 2,~~299~~326.7833 6.080% 506105221 97 RT Roseville CA 13,~~712~~686.8695 2,~~319~~345.1102 5.910% 410901389 98 SS Reno NV 12,~~143~~105.4533 4,~~020~~058.3143 5.240% 850201272 99 RT Sunrise FL 13,~~568~~535.6957 3,~~052~~085.0820 5.865% 620901399 100 RT Lexington SC 13,~~063~~039.1740 2,~~054~~078.4219 6.080% 850201337 101 MU New York NY 12,~~695~~672.7098 1,~~933~~956.5527 6.155% 506105087 102 SS Various Various 12,~~369~~328.7345 3,~~613~~654.6997 6.270% 850201323 103 IN Ocala FL 11,~~505~~483.1771 1,~~887~~909.6006 5.995% 506105182 104 SS Phoenix AZ 10,~~935~~859.0680 67,~~933~~009.7602 6.130% 850201284 105 RT Port St. Lucie FL 9,~~058~~038.2904 2,~~118~~138.3863 5.180% 850201233 106 MF Bronx NY 9,~~430~~410.7368 1,~~972~~992.3237 5.470% 506105159 107 MF Madera CA 9,~~885~~866.0502 1,~~715~~734.3538 5.880% 506105183 108 IN Annapolis MD 9,067.50 0.00 5.400% 506105138 109 SS Peoria AZ 1211,~~038~~994.1119 3,~~342~~386.7567 7.190% 506105137 110 IN Hanover MD 8,835.00 0.00 5.400% 506105219 111 MF Dublin PA 8,~~288~~269.0781 1,~~893~~911.3561 5.220% 410901417 112 RT Grand Prairie TX 9,~~428~~401.0194 2,~~382~~408.1926 5.960% 506105004 113 SS Pearland TX 9,~~117~~090.2966 2,~~485~~512.5316 5.860% 850201234 114 MF Mount Vernon NY 7,~~605~~589.4326 1,~~590~~606.5875 5.470% 850201293 115 IN Winona MN 6,~~517~~502.6482 1,~~279~~294.8365 6.200% 506105270 1a IN Various Various 242,797.28 0.00 4.260% 506105271 1b 96,405.28 0.00 4.740% 510901515 2A ~~175~~174,~~530~~312.1878 112,202.2324 6.300% 850201222 7A 30,~~842~~776.58 6,~~429~~495.84 5.520% Totals 5,~~335~~323,~~361~~950.4868 1,~~071~~080,~~990~~966.1012

Loan Anticipated Maturity Neg. Beginning Ending Paid Thru Number Repayment Date Amort Scheduled Scheduled Date Date (Y/N) Balance Balance 510901455 N/A 05/09/2013 N 32,~~355~~131,~~793~~388.2779 32,~~243~~019,~~591~~186.0355 0305/09/2004 850201269 N/A 10/01/2013 N 62,~~710~~594,~~316~~428.1009 62,~~657~~541,~~809~~313.5883 0406/01/2004 850201183 N/A 07/01/2013 N 48,~~892~~788,~~750~~266.4852 48,~~844~~739,~~366~~385.1380 0406/01/2004 506105208 N/A 12/01/2013 N 42,~~853~~757,~~667~~062.3083 42,~~808~~711,~~502~~473.6510 0406/01/2004 850201321 N/A 11/01/2010 N 39,400,000.00 39,400,000.00 0406/01/2004 850201220 N/A 06/01/2013 N 28,~~678~~617,~~712~~346.7786 28,~~650~~588,~~293~~636.8828 0305/01/2004 510901361 N/A 11/01/2008 N 31,~~361~~293,~~478~~843.5556 31,~~330~~262,~~061~~114.4284 0306/01/2004 506105243 N/A 02/01/2014 N 24,500,000.00 24,500,000.00 0406/01/2004 850201407 N/A 02/01/2009 N 23,650,000.00 23,650,000.00 0406/01/2004 506105253 N/A 01/01/2014 N 18,~~963~~929,~~238~~341.9981 18,~~947~~913,~~952~~875.0506 0406/01/2004 506105094 N/A 01/01/2014 N 16,500,000.00 16,500,000.00 0406/01/2004 310901352 N/A 01/01/2014 N 16,~~366~~334,~~268~~860.6889 16,~~351~~320,~~927~~361.1743 0406/01/2004 310901369 N/A 12/01/2013 N 15,~~951~~920,~~879~~245.3307 15,~~937~~905,~~362~~572.7281 0406/01/2004 506105155 N/A 03/01/2014 N 15,~~300~~268,~~000~~710.0066 15,~~285~~254,~~555~~117.0074 0406/01/2004 850201379 N/A 01/01/2014 N 14,950,000.00 14,950,000.00 0406/01/2004 510901364 N/A 11/01/2013 N 13,520,000.00 13,520,000.00 0306/01/2004 506105197 01/01/2013 02/01/2034 N 12,~~773~~749,~~773~~366.0580 12,~~762~~738,~~636~~107.7635 0406/01/2004 310901401 N/A 01/01/2014 N 12,~~374~~351,~~871~~527.6538 12,~~364~~340,~~242~~779.8764 0406/01/2004 310901321 N/A 12/01/2013 N 11,~~964~~940,~~328~~889.6404 11,~~953~~930,~~593~~037.4639 0406/01/2004 506105188 N/A 01/01/2024 N 11,~~950~~903,~~886~~391.9563 11,~~928~~880,~~277~~516.6792 0406/01/2004 610901341 N/A 12/01/2013 N 11,~~926~~877,~~184~~003.6006 11,~~902~~853,~~692~~245.0236 0406/01/2004 506105248 N/A 01/01/2014 N 11,200,000.00 11,200,000.00 0405/01/2004 506105111 N/A 11/01/2013 N 11,000,000.00 11,000,000.00 0406/01/2004 506105070 N/A 02/01/2014 N 10,~~980~~945,~~364~~572.8385 10,~~963~~928,~~789~~843.8153 0406/01/2004 850201403 N/A 02/01/2009 N 10,000,000.00 10,000,000.00 0406/01/2004 850201431 N/A 03/01/2014 N 109,~~000~~979,~~000~~812.0065 9,~~990~~970,~~698~~414.6784 0406/01/2004 310901388 N/A 12/01/2013 N 9,~~971~~952,~~134~~189.5231 9,~~962~~943,~~501~~460.6401 0406/01/2004 506105232 N/A 01/01/2019 N 9,~~927~~856,~~976~~800.9249 9,~~893~~821,~~223~~711.6939 0406/01/2004 506105191 N/A 12/01/2013 N 9,~~471~~453,~~878~~402.0212 9,~~463~~444,~~422~~854.1714 0306/01/2004 506105251 02/01/2014 03/01/2029 N 9,~~234~~208,~~838~~813.0147 9,~~222~~196,~~605~~450.8925 0406/01/2004 310901345 N/A 03/01/2014 N 9,~~100~~082,~~000~~412.0099 9,~~091~~074,~~952~~278.5142 0406/01/2004 310901374 N/A 01/01/2014 N 8,~~972~~946,~~714~~384.2930 8,~~960~~933,~~282~~824.6757 0306/01/2004 506105237 12/01/2013 01/01/2034 N 8,~~971~~953,~~764~~174.6815 8,~~963~~944,~~175~~496.7298 0306/01/2004 506105116 N/A 10/01/2018 N 8,~~744~~722,~~991~~870.8338 8,~~734~~712,~~763~~515.3782 0406/01/2004 506105160 N/A 12/01/2018 N 8,~~268~~248,~~899~~376.7340 8,~~259~~238,~~428~~787.0418 0406/01/2004 506105224 N/A 01/01/2014 N 8,~~257~~241,~~522~~184.1920 8,~~250~~233,~~024~~606.7254 0405/01/2004 310901209 N/A 12/01/2013 N 8,~~065~~043,~~962~~423.1048 8,~~055~~032,~~387~~733.9041 0406/01/2004 506105088 N/A 08/01/2013 N 7,~~842~~825,~~439~~814.9890 7,~~834~~818,~~745~~041.2731 0406/01/2004 506105217 N/A 01/01/2014 N 7,~~804~~789,~~158~~443.9750 7,~~797~~782,~~459~~668.4496 0405/01/2004 506105085 10/01/2017 11/01/2023 N 7,~~718~~685,~~216~~166.1226 7,~~702~~669,~~383~~160.0616 0406/01/2004 850201435 N/A 02/01/2009 N 7,~~639~~622,~~751~~323.5987 7,~~631~~614,~~585~~082.7290 0406/01/2004 510901384 N/A 11/01/2008 N 7,~~566~~550,~~690~~371.4188 7,~~559~~542,~~110~~716.2958 0306/01/2004 506104976 N/A 12/01/2013 N 7,~~465~~442,~~569~~722.5586 7,~~454~~431,~~733~~780.7523 0406/01/2004 506105298 N/A 02/01/2014 N 7,300,000.00 7,300,000.00 0406/01/2004 310901208 N/A 09/01/2013 N 6,~~922~~910,~~955~~747.1023 6,~~917~~905,~~474~~199.2685 0406/01/2004 310901359 N/A 12/01/2013 N 6,~~780~~768,~~782~~179.0896 6,~~775~~762,~~061~~394.3501 0305/01/2004 506105223 02/01/2013 03/01/2019 N 6,~~774~~727,~~770~~143.9337 6,~~751~~703,~~539~~681.3268 0306/01/2004 506105202 N/A 12/01/2013 N 6,~~727~~713,~~939~~394.3407 6,~~721~~706,~~177~~566.8508 0406/01/2004 506105240 N/A 01/01/2014 N 6,~~386~~374,~~985~~889.9852 6,~~381~~369,~~474~~316.6876 0306/01/2004 506105146 N/A 02/01/2014 N 5,~~992~~981,~~777~~110.3092 5,~~987~~975,~~435~~711.5036 0406/01/2004 850201393 N/A 02/01/2009 N 5,970,000.00 5,970,000.00 0405/01/2004 310901387 N/A 01/01/2009 N 5,~~856~~839,~~745~~220.4260 5,~~848~~830,~~451~~843.9567 0406/01/2004 850201405 N/A 08/01/2010 N 5,800,000.00 5,800,000.00 0406/01/2004 850201274 N/A 11/01/2013 N 5,~~721~~707,~~563~~600.9848 5,~~715~~701,~~064~~030.1816 0406/01/2004 850201339 N/A 12/01/2013 N 5,~~683~~672,~~511~~689.9749 5,~~678~~667,~~578~~701.5912 0406/01/2004 510901365 N/A 11/01/2013 N 5,280,000.00 5,280,000.00 0306/01/2004 310901373 N/A 11/01/2013 N 5,~~279~~270,~~883~~114.2969 5,~~275~~265,~~454~~634.5699 0406/01/2004 310901343 N/A 01/01/2014 N 5,~~233~~218,~~761~~179.3812 5,~~226~~210,~~391~~734.4962 0406/01/2004 510901362 N/A 11/01/2015 N 5,200,000.00 5,200,000.00 0306/01/2004 506105282 N/A 07/01/2016 N 5,~~152~~105,~~358~~078.6385 5,~~129~~081,~~185~~671.7385 0305/01/2004 506105139 N/A 10/01/2013 N 5,150,000.00 5,150,000.00 0406/01/2004 850201275 N/A 11/01/2013 N 5,~~130~~120,~~371~~837.7968 5,~~126~~116,~~046~~462.0031 0406/01/2004 506105174 11/01/2013 12/01/2033 N 5,~~079~~068,~~121~~932.2965 5,~~074~~064,~~439~~200.4691 0406/01/2004 850201263 N/A 10/01/2008 N 3,~~064~~058,~~872~~407.0453 3,~~061~~055,~~879~~384.8988 0406/01/2004 850201235 N/A 09/01/2008 N 1,~~962~~958,~~415~~242.3502 1,~~960~~956,~~482~~289.1819 0406/01/2004 850201240 N/A 10/01/2013 N 4,~~879~~871,~~596~~449.1176 4,~~875~~867,~~976~~783.0380 0406/01/2004 850201262 N/A 10/01/2008 N 4,~~695~~685,~~292~~389.4806 4,~~690~~680,~~708~~758.6045 0406/01/2004 850201283 N/A 11/01/2010 N 4,~~589~~578,~~103~~848.6539 4,~~584~~574,~~316~~015.51 0406/01/2004 310901377 N/A 01/01/2014 N 4,~~191~~183,~~459~~521.5627 4,~~187~~179,~~842~~864.7715 0406/01/2004 506105220 N/A 12/01/2013 N 4,~~136~~127,~~186~~074.9626 4,~~131~~122,~~939~~786.7206 0406/01/2004 600873025 N/A 10/01/2010 N 4,~~038~~027,~~129~~318.1707 4,~~033~~022,~~089~~220.8919 0305/01/2004 850201230 09/01/2013 10/01/2033 N 4,~~026~~018,~~534~~775.0271 4,~~022~~015,~~995~~197.2431 0406/01/2004 506105101 N/A 09/01/2013 N 4,~~023~~014,~~062~~125.6254 4,~~018~~009,~~951~~966.7184 0406/01/2004 850201048 N/A 02/01/2010 N 4,000,000.00 4,000,000.00 0406/01/2004 506105215 N/A 12/01/2018 N 3,~~959~~932,~~389~~187.8452 3,~~946~~918,~~154~~810.7470 0406/01/2004 850201388 01/01/2009 02/01/2004 N 3,850,000.00 3,850,000.00 0406/01/2004 850201433 N/A 09/01/2013 N 3,~~820~~810,~~446~~608.5502 3,~~815~~805,~~887~~993.8372 0406/01/2004 850201261 N/A 10/01/2008 N 3,~~800~~791,~~003~~988.6458 3,~~796~~788,~~293~~240.8092 0406/01/2004 850201294 N/A 11/01/2013 N 3,~~727~~716,~~776~~799.8571 3,~~722~~711,~~595~~564.7068 0406/01/2004 506105184 N/A 12/01/2013 N 3,~~590~~583,~~208~~799.9327 3,~~587~~580,~~320~~876.2139 0406/01/2004 410901385 N/A 01/01/2009 N 3,~~503~~492,~~590~~589.1361 3,~~498~~487,~~356~~306.2812 0406/01/2004 506105163 N/A 12/01/2013 N 3,~~485~~476,~~558~~001.8313 3,~~481~~471,~~085~~477.6591 0406/01/2004 506105136 N/A 12/01/2013 N 3,~~484~~473,~~293~~876.2509 3,~~479~~468,~~365~~898.6653 0406/01/2004 510901391 N/A 11/01/2010 N 3,397,513.00 3,397,513.00 0306/01/2004 506105216 N/A 12/01/2013 N 3,~~390~~384,~~593~~430.2750 3,~~387~~381,~~806~~611.7152 0406/01/2004 410901390 N/A 01/01/2009 N 3,~~349~~338,~~093~~577.2783 3,~~344~~333,~~090~~527.2133 0406/01/2004 506105213 01/01/2014 02/01/2034 N 3,~~343~~337,~~481~~464.0110 3,~~340~~334,~~764~~715.1649 0306/01/2004 410901132 N/A 06/01/2013 N 3,~~305~~295,~~734~~692.8123 3,~~300~~290,~~986~~894.5063 0406/01/2004 410901407 N/A 01/01/2009 N 3,~~288~~278,~~896~~156.5954 3,~~283~~272,~~765~~979.6536 0406/01/2004 410901392 N/A 01/01/2009 N 3,~~189~~179,~~612~~597.6596 3,~~184~~174,~~847~~787.8496 0406/01/2004 850201267 N/A 10/01/2013 N 3,~~136~~130,~~012~~420.5854 3,~~133~~127,~~495~~873.3420 0406/01/2004 620901164 N/A 07/01/2013 N 3,~~064~~055,~~208~~037.1253 3,~~059~~050,~~877~~661.91 0406/01/2004 850201232 N/A 09/01/2008 N 2,~~836~~830,~~808~~775.0320 2,~~834~~827,~~013~~952.5026 0406/01/2004 506105054 N/A 09/01/2013 N 2,~~747~~738,~~743~~630.3062 2,~~743~~734,~~388~~236.8554 0406/01/2004 850201229 09/01/2013 10/01/2033 N 2,~~719~~714,~~645~~575.9037 2,~~717~~712,~~346~~249.12 04 06/01/2004 506105221 01/01/2014 02/01/2034 N 2,~~694~~689,~~520~~428.1516 2,~~692~~687,~~201~~083.0414 0406/01/2004 410901389 N/A 01/01/2009 N 2,~~691~~682,~~235~~785.6878 2,~~687~~678,~~215~~727.3735 0406/01/2004 850201272 N/A 11/01/2013 N 2,~~686~~680,~~647~~090.4365 2,~~683~~677,~~595~~005.3545 0406/01/2004 620901399 N/A 01/01/2014 N 2,~~495~~490,~~088~~547.2258 2,~~493~~488,~~033~~469.8039 0406/01/2004 850201337 N/A 01/01/2014 N 2,~~395~~391,~~352~~065.0448 2,~~393~~389,~~418~~109.4921 0406/01/2004 506105087 N/A 10/01/2013 N 2,~~291~~283,~~044~~399.8355 2,~~287~~279,~~431~~744.1459 0406/01/2004 850201323 12/01/2013 01/01/2034 N 2,~~228~~224,~~663~~507.4063 2,~~226~~222,~~775~~598.8057 0406/01/2004 506105182 N/A 11/01/2018 N 2,~~071~~057,~~578~~322.1041 2,~~064~~050,~~644~~313.3439 0406/01/2004 850201284 N/A 11/01/2010 N 2,~~030~~026,~~753~~214.0493 2,~~028~~024,~~634~~076.6630 0406/01/2004 850201233 N/A 09/01/2008 N 21,~~002~~997,~~160~~902.4964 21,~~000~~995,~~188~~910.1727 0406/01/2004 506105159 N/A 11/01/2013 N 1,~~952~~948,~~280~~522.3031 1,~~950~~946,~~564~~787.9593 0406/01/2004 506105183 N/A 10/01/2013 N 1,950,000.00 1,950,000.00 0406/01/2004 506105138 N/A 12/01/2023 N 1,~~944~~937,~~330~~236.6579 1,~~940~~933,~~987~~850.9012 0406/01/2004 506105137 N/A 10/01/2013 N 1,900,000.00 1,900,000.00 0406/01/2004 506105219 N/A 12/01/2013 N 1,~~843~~839,~~842~~780.3708 1,~~841~~837,~~949~~868.0247 0406/01/2004 410901417 N/A 02/01/2014 N 1,~~837~~831,~~023~~943.8450 1,~~834~~829,~~641~~535.6524 0406/01/2004 506105004 N/A 08/01/2013 N 1,~~806~~801,~~794~~517.7443 1,~~804~~799,~~309~~005.2127 0406/01/2004 850201234 N/A 09/01/2008 N 1,~~614~~611,~~645~~211.5479 1,~~613~~609,~~054~~605.96 04 06/01/2004 850201293 N/A 12/01/2013 N 1,~~220~~218,~~786~~010.7625 1,~~219~~216,~~506~~715.9360 0406/01/2004 506105270 N/A 01/01/2009 N 68,393,600.00 68,393,600.00 0406/01/2004 506105271 N/A 01/01/2011 N 24,406,400.00 24,406,400.00 0406/01/2004 510901515 N/A 05/09/2013 N 32,~~355~~131,~~793~~388.2781 32,~~243~~019,~~591~~186.0457 0305/09/2004 850201222 N/A 06/01/2013 N 6,~~488~~474,~~620~~736.6143 6,~~482~~468,~~190~~240.7759 0305/01/2004 Totals 1,~~108~~106,~~470~~205,~~976~~536.5584 1,~~107~~105,~~398~~124,~~986~~570.4575

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 06/11/2004 0 $0.00 0 $0.00 0 $0.00 05/11/2004 0 $0.00 0 $0.00 0 $0.00 04/12/2004 0 $0.00 0 $0.00 0 $0.00

Distribution Foreclosure REO Modifications Date # Balance # Balance # Balance 06/11/2004 0 $0.00 0 $0.00 0 $0.00 05/11/2004 0 $0.00 0 $0.00 0 $0.00 04/12/2004 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 06/11/2004 0 $0.00 0 $0.00 5.607847% 5.563137% 103 05/11/2004 0 $0.00 0 $0.00 5.608087% 5.563376% 104 04/12/2004 0 $0.00 0 $0.00 5.608342% 5.563631% 105 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.

Delinquency Loan Detail Offering # of Paid Through Current Outstanding Status of Loan Number Document Months Date P & I P & I Mortgage Cross- Delinq. Advances Advances ** Loan (1) Reference 850201220 7 0 0305/01/2004 163,~~009~~013.6838 163,~~009~~013.6838 A ~~510901361~~506105248 823 0 0305/01/2004 ~~175~~52,~~087~~460.5496 ~~175~~52,~~087~~460.5496 A ~~510901364~~506105224 1737 0 0305/01/2004 6947,~~736~~669.9176 6947,~~736~~669.9176 A ~~506105191~~506105217 3040 0 0305/01/2004 5546,~~681~~278.0682 5546,~~681~~278.0682 A ~~310901374 33 0 03/01/2004 55,854.57 55,854.57 A 506105237 34 0 03/01/2004 51,157.49 51,157.49 A 510901384 43 0 03/01/2004 42,243.97 42,243.97 A~~ 310901359 47 0 0305/01/2004 40,~~637~~638.9931 40,~~637~~638.9931 A ~~506105223~~850201393 ~~48 0 03/01/2004 55,959.40 55,959.40 A 506105240 50 0 03/01/2004 37,960.74 37,960.74 A 510901365 57 0 03/01/2004 27,234.~~52 ~~27,234.52 A 510901362 60~~ 0 0305/01/2004 2822,~~107~~392.0247 2822,~~107~~392.0247 A 506105282 61 0 0305/01/2004 48,~~684~~550.2315 48,~~684~~550.2315 A 600873025 72 0 0305/01/2004 26,~~511~~512.4758 26,~~511~~512.4758 A ~~510901391 85 0 03/01/2004 16,573.72 16,573.72 A 506105213 88 0 03/01/2004 20,365.79 20,365.79 A~~ 850201222 7A 0 0305/01/2004 36,~~881~~882.3014 36,~~881~~882.3014 A Totals 179 ~~951~~484,~~687~~398.4057 ~~951~~484,~~687~~398.4057

Resolution Servicing Actual Outstanding Loan Strategy Transfer Foreclosure Principal Servicing Bankruptcy REO Number Code (2) Date Date Balance Advances Date Date 850201220 28,~~678~~617,~~712~~346.7786 0.00 ~~510901361~~506105248 3111,~~361~~200,~~478.55 0.00 510901364 13,520,~~000.00 0.00 ~~506105191~~506105224 ~~9,471,878.02 0.00 310901374~~ 8,~~972~~241,~~714~~184.2920 0.00 ~~506105237~~506105217 ~~8,971,764.68 0.00 510901384~~ 7,~~566~~789,~~690~~443.4051 0.00 310901359 6,~~780~~768,~~782~~179.0896 0.00 ~~506105223~~850201393 ~~6,774,770.93 0.00 506105240 6,386,985.98 0.00 510901365~~ 5,~~280~~970,000.00 0.00 ~~510901362 5,200,000.00 0.00~~ 506105282 5,~~152~~105,~~358~~078.6385 0.00 600873025 4,~~038~~027,~~129~~318.1707 0.00 ~~510901391 3,397,513.00 0.00 506105213 3,343,481.01 0.00~~ 850201222 6,~~488~~474,~~620~~736.6143 0.00 Totals ~~161~~84,~~385~~193,~~880~~287.1288 0.00

Current Outstanding Actual Outstanding P & I P & I Principal Servicing Advances Advances** Balance Advances Totals By Delinquency Code: Total for Status Code = A (179 loans) ~~951~~484,~~687~~398.4057 ~~951~~484,~~687~~398.4057 ~~161~~84,~~385~~193,~~880~~287.1288 0.00 (1) Status of Mortgage Loan A - Payment Not Received But Still In Grace Period B - Late Payment But Less Than 1 Month Delinquent 0 - Current 1 - One Month Delinquent 2 - Two Months Delinquent 3 - Three or More Months Delinquent 4 - Assumed Scheduled Payment (Performing Matured Balloon) 7 - Foreclosure 9 - REO (2) Resolution Strategy Code 1 - Modification 2 - Foreclosure 3 - Bankruptcy 4 - Extension 5 - Note Sale 6 - DPO 7 - REO 8 - Resolved 9 - Pending Return to Master Servicer 10 - Deed In Lieu Of Foreclosure 11 - Full Payoff 12 - Reps and Warranties 13 - Other or TBD ** Outstanding P & I Advances include the current period advance.

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

Filing Compare · BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST 2004-PWR3