8-K 1 bsc04pr3_oct.txt OCTOBER 8K 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: October 12, 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) 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 October 12, 2004, a distribution was made to holders of Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2004-PWR3. 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-PWR3, relating to the October 12, 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 (Registrant) By: Wells Fargo Bank, N.A. as Certificate Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: October 12, 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 October 12, 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: October 12, 2004 Record Date: September 30, 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 - 18 Specially Serviced Loan Detail 19 - 20 Modified Loan Detail 21 Liquidated Loan Detail 22 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 ~~181~~179,~~951~~767,~~415~~079.0717 1,~~090~~215,~~029~~152.9574 ~~490~~484,~~662~~771.3289 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.~~728757~~562398% 13,856,000.00 13,856,000.00 0.00 6664,~~148~~227.0415 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 0.9996 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,~~103~~101,~~922~~737,~~184~~848.0717 1,~~090~~215,~~029~~152.9574 4,~~018~~011,~~980~~169.8550

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,~~580~~699,~~692~~924.2763 ~~180~~178,~~861~~551,~~385~~926.1243 13.0709% A2 07383FYF9 0.00 0.00 483,625.00 150,000,000.00 13.0709% A3 07383FYG7 0.00 0.00 590,788.33 158,000,000.00 13.0709% A4 07383FYH5 0.00 0.00 1,846,193.61 469,869,000.00 13.0709% B 07383FYJ1 0.00 0.00 105,523.38 26,326,000.00 10.6870% C 07383FYK8 0.00 0.00 50,403.63 12,471,000.00 9.5557% D 07383FYL6 0.00 0.00 67,741.17 16,627,000.00 8.0406% E 07383FYM4 0.00 0.00 40,396.34 9,699,000.00 7.1618% F 07383FYQ5 0.00 0.00 66,031.63 15,241,000.00 5.7879% G 07383FYR3 0.00 0.00 49,004.94 11,085,000.00 4.7778% H 07383FYS1 0.00 0.00 6664,~~148~~227.0415 13,856,000.00 3.5253% J 07383FYT9 0.00 0.00 11,603.56 2,771,000.00 3.27% K 07383FYU6 0.00 0.00 23,207.13 5,542,000.00 2.7677% L 07383FYV4 0.00 0.00 29,011.00 6,928,000.00 2.14% M 07383FYW2 0.00 0.00 23,211.31 5,543,000.00 1.6364% 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 0.9996 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,~~109~~226,~~010~~322.8024 1,~~102~~100,~~832~~522,~~154~~695.1243

Class CUSIP Pass-Through Original Beginning Interest Rate Notional Notional Distribution Amount Amount X1 07383FYN2 0.~~061865~~052610% 1,108,470,769.00 1,~~103~~101,~~922~~737,~~184~~848.0716 5648,~~912~~302.2025 X2 07383FYP7 1.~~336338~~172127% 1,072,357,000.00 1,072,357,000.00 1,~~194~~047,~~192~~449.6613

Class CUSIP Prepayment Total Ending Penalties Distribution Notional Amount X1 07383FYN2 0.00 5648,~~912~~302.2025 1,~~102~~100,~~832~~522,~~154~~695.1243 X2 07383FYP7 0.00 1,~~194~~047,~~192~~449.6613 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 ~~975~~963.~~61080466~~89854783 56.~~84466461~~51556429 2.~~63089716~~59931308 0.00000000 0.00000000 ~~969~~957.~~76614005~~38298354 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.~~77396363~~63533126 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 ~~995~~993.~~89652244~~92593740 0.~~05134299~~04357557 0.00000000 ~~994~~992.~~91315871~~82969493 X2 07383FYP7 1,000.00000000 10.~~11361483~~97677278 0.00000000 1,000.00000000

Reconciliation Detail Advance Summary P & I Advances Outstanding ~~991~~1,~~568~~251,668.5073 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 3938,~~818~~574.1547 Less Delinquent Master Servicing Fees 58,~~933~~685.4501 Less Reductions to Master Servicing Fees 0.00 Plus Master Servicing Fees for Delinquent Payments Received 95,~~533~~773.4124 Plus Adjustments for Prior Master Servicing Calculation 0.00 Total Master Servicing Fees Collected 4335,~~418~~662.1170

Certificate Interest Reconciliation Class Accrued Net Aggregate Distributable Distributable Certificate Prepayment Certificate Certificate Interest Interest Interest Interest Shortfall Adjustment A1 ~~490~~484,~~662~~771.3289 0.00 ~~490~~484,~~662~~771.3289 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 5648,~~912~~302.2025 0.00 5648,~~912~~302.2025 0.00 X2 1,~~194~~047,~~192~~449.6613 0.00 1,~~194~~047,~~192~~449.6613 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 6664,~~148~~227.0415 0.00 6664,~~148~~227.0415 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,~~270~~106,~~084~~919.7292 0.00 5,~~270~~106,~~084~~919.7292 0.00

Class Additional Interest Remaining Trust Fund Distribution Unpaid Expenses Interest A1 0.00 ~~490~~484,~~662~~771.3289 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 5648,~~912~~302.2025 0.00 X2 0.00 1,~~194~~047,~~192~~449.6613 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 6664,~~148~~227.0415 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,~~270~~106,~~084~~919.7292 0.00

Other Required Information Available Distribution Amount (1) 6,~~360~~322,~~115~~073.6662 Principal Distribution Amount 1,~~090~~215,~~029~~152.9773 (a) Principal portion of Scheduled Payments 1,~~090~~215,~~029~~152.9773 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,~~103~~101,~~528~~601,~~724~~168.2941 Aggregate Scheduled Principal Balance of the Mortgage Loans 1,~~102~~100,~~832~~522,~~361~~902.6798 Total Servicing and Special Servicing Fee Paid 4335,~~418~~662.1170 Servicing Fee Paid 4335,~~418~~662.1170 Special Servicing Fee Paid 0.00 Trustee Fee paid ~~908~~881.6839 Paying Agent Fee paid 1,~~363~~322.0209 Report Administrator Fee paid ~~276~~267.4872 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 5,147,966.57 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 5,147,966.57 Principal: Scheduled Principal 1,215,152.73 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 1,215,152.73 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 6,363,119.29 Total Funds Distributed Fees: Master Servicing Fee 38,574.47 Trustee Fee 881.39 Certificate Administration Fee 1,322.09 Insurer Fee 0.00 Servicer Report Administrator Fee 267.72 Total Fees 41,045.66 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 5,106,920.88 Principal Distribution 1,215,152.74 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 6,322,073.62 Total Funds Distributed 6,363,119.28

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 11 19,~~935~~894,~~043~~126.5146 1.81 ~~105~~103 5.~~7641~~7637 1.~~896622~~897349 2,000,000 to 3,999,999 3133 95102,~~023~~760,~~147~~328.7488 89.6234 9493 5.~~7266~~7532 114,926.~~626482~~347007 4,000,000 to 5,999,999 2321 ~~114~~106,~~564~~348,~~134~~500.6803 109.3966 9996 5.~~6745~~6445 18,916.~~793861~~770572 6,000,000 to 7,999,999 1314 92100,~~836~~583,~~503~~701.1617 89.4214 ~~105~~103 5.~~6683~~6922 117,045.~~641140~~640733 8,000,000 to 9,999,999 1211 ~~108~~99,~~243~~950,~~836~~916.1528 9.8208 ~~128~~127 5.~~8566~~8476 127,808.~~372942~~754401 10,000,000 to 11,999,999 7 78,~~635~~476,~~344~~492.4224 7.13 ~~123~~121 5.~~6000~~5992 1.~~938573~~939164 12,000,000 to 15,999,999 6 84,~~596~~482,~~276~~934.0372 7.6768 ~~111~~109 5.~~8204~~8205 1.~~516211~~516344 16,000,000 to 19,999,999 3 51,~~667~~600,~~924~~970.0247 4.69 ~~113~~111 6.~~0879~~0880 1157,171.~~630133~~852023 20,000,000 to 29,999,999 4 101,~~082~~020,~~800~~006.6377 9.1718 8987 5.~~0397~~0394 2121,668.~~597207~~754983 Above 30,000,000 8 ~~356~~355,~~247~~404,~~351~~925.3396 32.3029 8987 5.~~4960~~4949 2.~~168329~~265290 Totals 118 1,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703

State (3) State # of Scheduled % of WAM WAC Weighted Props Balance Agg. (2) Avg DSCR (1) Bal. Alaska 1 3,~~262~~251,~~101~~133.4893 0.30 5351 5.0000 1108,068.~~620358~~500000 Arizona 5 15,~~106~~069,~~141~~491.6999 1.37 ~~127~~125 6.~~1225~~1221 120,039.~~436050~~287215 California 31 ~~191~~190,~~179~~824,~~059~~971.7371 17.34 ~~101~~99 5.~~4547~~4544 2.~~090104~~091388 Colorado 1 48,~~633~~526,~~421~~507.8092 4.41 ~~107~~105 5.5170 01.~~670000~~370000 Florida 12 78,~~785~~645,~~156~~183.5101 7.1415 8684 5.5867 1,841.~~630669~~133308 Georgia 7 2423,~~018~~982,~~361~~920.5795 2.18 9189 5.~~4078~~4072 2.~~318318~~319537 Idaho 1 3,~~328~~322,~~603~~431.8399 0.30 ~~113~~111 6.1300 1.414701 Illinois 4 36,~~653~~599,~~668~~478.6844 3.3233 ~~101~~99 5.~~8549~~8545 175,942.~~702185~~015799 Iowa 1 6,~~655~~606,~~368~~602.0274 0.60 ~~102~~100 5.6100 1.235163 Kansas 4 16,~~862~~839,~~570~~462.0436 1.53 8179 5.~~0723~~0710 3101,808.~~261784~~651562 Kentucky 4 3,735,021.94 0.34 5351 4.2600 4.665821 Maryland 6 3635,~~011~~957,~~054~~586.9934 3.27 ~~110~~108 5.~~7790~~7789 2.~~055690~~056212 Massachusetts 3 7,457,710.38 0.68 5351 4.2600 4.665821 Michigan 2 18,~~684~~642,~~158~~341.2988 1.69 ~~114~~112 5.~~5993~~5992 1.~~439532~~439530 Minnesota 3 16,~~161~~125,~~501~~249.2252 1.47 ~~111~~109 5.7985 1.~~426723~~426695 Nebraska 1 4,~~011~~000,~~234~~135.2451 0.36 7472 6.2950 1.402622 Nevada 7 31,~~076~~014,~~912~~641.1864 2.82 8987 5.~~6290~~6292 133,458.~~556563~~698278 New Jersey 2 14,~~327~~278,~~416~~642.6545 1.30 ~~137~~134 5.~~7204~~7199 2.~~215109~~216184 New York 20 180,~~570~~227,~~193~~080.1545 16.3738 ~~106~~104 5.5985 1.~~873066~~873345 North Carolina 2 35,~~453~~402,~~272~~784.8207 3.2122 7371 5.~~1066~~1050 2347,170.~~380570~~445740 Ohio 2 10,~~364~~344,~~357~~009.8437 0.94 ~~111~~109 5.9116 1.~~633611~~633609 Oregon 3 12,~~273~~258,~~869~~086.1304 1.11 ~~123~~121 6.~~0415~~0417 1.~~391336~~391239 Pennsylvania 10 192,~~860~~200,~~158~~379.0226 17.4946 ~~107~~105 5.~~9391~~9383 142,197.~~651278~~905422 Rhode Island 1 10,000,000.00 0.91 5452 4.5310 2.774308 South Carolina 2 8,~~283~~279,~~857~~201.8320 0.75 8482 4.~~9808~~9801 2.~~517013~~517641 Texas 21 72,~~229~~164,~~735~~738.1390 6.5556 9593 5.~~3394~~3387 2.~~823920~~825214 Utah 2 14,~~934~~894,~~788~~730.9639 1.35 8179 5.3897 1.~~439499~~439405 Washington 3 9,~~912~~872,~~665~~378.8994 0.90 ~~134~~132 6.~~3160~~3166 165,449.~~417226~~955532 Totals 161 1,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703

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 109 9951,~~874~~037,~~390~~170.1691 94.0664 ~~125~~140 5.~~7377~~9470 01.~~901009~~121858 1.250 to 1.299 7 71,~~400~~165,~~003~~528.1099 6.47 ~~104~~102 5.~~7314~~7316 1.~~287468~~287481 1.300 to 1.349 54 4030,~~263~~246,~~732~~126.1817 32.6575 ~~133~~138 6.~~0544~~1018 1.~~327628~~326372 1.350 to 1.399 1112 86134,~~008~~351,~~223~~121.0142 712.8021 ~~111~~107 5.~~8152~~7075 1.~~381559~~377386 1.400 to 1.449 1615 ~~104~~101,~~227~~788,~~141~~467.3329 9.4525 ~~101~~99 5.~~7621~~7570 1.~~421647~~421697 1.450 to 1.499 8 41,~~645~~570,~~422~~470.2993 3.78 ~~100~~98 5.~~9298~~9299 1.~~474830~~474834 1.500 to 1.549 4 17,~~782~~742,~~855~~187.8485 1.61 ~~111~~109 6.0275 1.528136 1.550 to 1.599 109 6762,~~078~~760,~~235~~423.0697 65.0870 9895 5.~~7362~~7253 1.~~576219~~576551 1.600 to 1.799 1710 ~~229~~186,~~683~~693,~~997~~062.2136 2016.8396 ~~106~~107 5.~~9244~~9656 1.~~675428~~684804 1.800 to 1.999 11 102,~~125~~055,~~855~~385.9451 9.2627 9593 5.~~8889~~8891 1.~~892191~~892212 2.00 or Greater 1929 ~~242~~301,~~742~~112,~~505~~957.5557 2227.0136 8081 4.~~7628~~9621 390,920.~~394619~~210574 Totals 118 1,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703

Property Type (3) Property # of Scheduled % of WAM WAC Weighted Type Props Balance Agg. (2) Avg DSCR (1) Bal. Industrial 52 131,~~743~~643,~~094~~656.7585 11.9596 7068 4.~~7106~~7098 31,102.~~806095~~744434 Mixed Use 2 6,~~180~~166,~~744~~235.2068 0.56 ~~111~~109 6.4037 1.~~484311~~484286 Mobile Home Park 7 72,~~866~~768,~~835~~067.1727 6.61 7977 5.~~6707~~6711 1.~~363021~~363132 Multi-Family 21 122,~~966~~772,~~366~~318.6755 11.1516 9896 5.4290 12,863.~~692941~~412144 Office 16 ~~246~~245,~~294~~490,~~547~~196.2482 22.3331 ~~113~~111 6.~~0517~~0514 111,323.~~673722~~412672 Retail 51 ~~481~~480,~~950~~991,~~427~~433.9894 43.7071 ~~107~~105 5.~~6317~~6314 147,951.~~652238~~211367 Self Storage 12 40,~~830~~690,~~345~~994.9921 3.70 9492 5.~~5494~~5493 125,502.~~767101~~772516 Totals 161 1,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703

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 12.5356 5856 4.4329 488,925.~~061938~~462659 4.7500% to 5.2499% 15 ~~100~~99,~~104~~863,~~966~~207.9896 9.0807 9290 5.1240 213,911.~~162290~~200470 5.2500% to 5.4999% 18 ~~142~~141,~~163~~891,~~349~~152.1408 12.89 9189 5.~~3770~~3769 1.~~730992~~731514 5.5000% to 5.7499% 18 ~~191~~190,~~042~~600,~~571~~607.2829 17.32 ~~107~~105 5.5686 1.~~303712~~481999 5.7500% to 5.9999% 27 ~~221~~220,~~279~~899,~~821~~156.6968 20.0607 ~~106~~104 5.~~8714~~8715 159,080.~~577217~~518033 6.0000% to 6.2499% 19 ~~157~~156,~~308~~990,~~344~~421.8321 14.2627 ~~116~~114 6.0909 1.~~505399~~505493 6.2500% to 6.4999% 10 ~~125~~124,~~223~~637,~~261~~942.6803 11.3533 ~~119~~118 6.3084 1.~~610402~~610301 6.5000% or Greater 5 27,~~490~~420,~~046~~415.0774 2.49 ~~156~~154 6.~~6465~~6464 123,565.~~391350~~321728 Totals 118 1,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703

Seasoning Seasoning # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 12 Months or Less ~~113~~99 1950,~~057~~175,~~529,740~~677.4618 9586.8934 ~~101~~99 5.~~6109~~5536 128,813.~~918709~~845507 13 to 24 Months 519 45150,~~302~~347,~~621~~225.2180 413.1166 ~~103~~100 5.~~5242~~9436 1.~~538084~~676953 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,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703

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 21 199,~~760~~543,~~023~~353.9685 18.1113 5351 4.~~7967~~7961 268,557.~~832192~~946679 61 to 84 Months 8 87,~~598~~572,~~248~~033.9755 7.9496 7573 5.~~4162~~4161 2.~~774135~~774449 85 to 120 Months 79 ~~751~~749,~~261~~492,~~462~~553.6423 68.1210 ~~111~~109 5.~~7913~~7911 118,276.~~608537~~179609 121 Months or Greater 4 29,~~743~~665,~~525~~782.2167 2.70 ~~161~~159 6.~~4384~~4386 1.~~311962~~311948 Totals 112 1,~~068~~066,~~363~~273,~~260~~723.7930 96.8789 9896 5.~~5926~~5921 125,676.~~924647~~732361

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,~~469~~249,~~100~~179.8868 3.1311 ~~192~~190 6.~~0644~~0653 1.~~234402~~234346 Totals 6 34,~~469~~249,~~100~~179.8868 3.1311 ~~192~~190 6.~~0644~~0653 1.~~234402~~234346

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 11.8587 5856 4.4793 394,067.~~812997~~622717 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 ~~937~~935,~~699~~610,~~660~~123.7930 85.0302 ~~104~~102 5.~~7477~~7475 116,125.~~661516~~531793 Totals 112 1,~~068~~066,~~363~~273,~~260~~723.7930 96.8789 9896 5.~~5926~~5921 125,676.~~924647~~732361

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 9689 ~~865~~799,~~916~~781,~~542~~631.4861 7872.5267 ~~103~~102 5.~~5704~~5842 2.~~061864~~069065 1 Year or Less 2229 ~~236~~300,~~915~~741,~~819~~271.1937 2127.4833 9692 5.~~7426~~6670 191,031.~~322704~~112448 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,~~102~~100,~~832~~522,~~361~~902.6798 100.00 ~~101~~99 5.~~6073~~6068 124,877.~~903074~~689703 (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.

Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type (1) City State Payment Payment Coupon 510901455 2 OF Philadelphia PA ~~173~~166,~~095~~333.3954 112,202.24 6.300% 850201269 3 OF Philadelphia PA ~~327~~316,~~641~~525.5973 5364,~~728~~844.2814 6.090% 850201183 4 RT Aurora CO ~~231~~223,~~279~~364.8305 4957,~~381~~297.7553 5.517% 506105208 5 RT Clay NY ~~187~~181,~~714~~266.1810 4652,~~018~~466.5159 5.110% 850201321 6 OF New York NY ~~200~~194,~~513~~045.1700 0.00 5.910% 850201220 7 RT San Diego CA ~~135~~131,~~733~~087.3639 2933,~~005~~650.0198 5.520% 510901361 8 MH North Fort Myers FL ~~143~~138,~~854~~927.5873 3236,~~043~~969.1499 5.350% 506105243 9 MF King of Prussia PA ~~111~~107,~~182~~595.3683 0.00 5.270% 850201407 10 RT Hickory NC 89,298.46 0.00 4.531% 506105253 11 RT Villa Park IL ~~100~~96,~~227~~833.9571 1519,~~648~~042.4468 6.160% 506105094 12 RT San Diego CA 8885,~~802~~937.0850 0.00 6.250% 310901352 13 RT Natrona Heights PA 8179,~~986~~198.6992 1417,~~658~~446.9774 5.840% 310901369 14 RT Stockton CA 7875,~~176~~513.6323 1417,~~829~~492.4383 5.714% 506105155 15 MF Auburn Hills MI 7269,~~033~~574.5366 1417,~~742~~201.2209 5.490% 850201379 16 RT Irving TX 7674,~~919~~438.8354 0.00 5.975% 510901364 17 MH Vero Beach FL 7067,~~086~~825.1833 0.00 6.020% 506105197 18 RT Peachtree City GA 6462,~~210~~027.3458 1113,~~383~~566.8360 5.860% 310901401 19 RT Hanover MD 6260,~~823~~689.9187 1013,~~867~~001.9094 5.918% 310901321 20 RT Albertville MN 5957,~~212~~196.0322 1012,~~969~~985.2506 5.770% 506105188 21 OF Mineola NY 6663,~~255~~866.0778 2325,~~143~~531.0736 6.490% 610901341 22 RT High Point NC 6361,~~755~~447.7173 2426,~~025~~333.6361 6.260% 506105248 23 MF Rensselaer NY 5351,~~044~~333.4433 0.00 5.500% 506105111 24 OF New York NY 4948,~~918~~308.6133 0.00 5.270% 506105070 25 SS Maspeth NY 4846,~~384~~678.9388 1618,~~884~~591.9601 5.150% 850201403 26 RT Middletown RI 37,758.33 0.00 4.531% 850201431 27 MF Riverside CA 4745,~~597~~974.8035 911,~~495~~118.2065 5.550% 310901388 28 OF Champaign IL 5048,~~550~~833.9713 810,~~826~~544.6852 5.910% 506105232 29 OF Walnut Creek CA 4644,~~174~~360.1532 3537,~~428~~241.1093 5.480% 506105191 30 RT San Pablo CA 4745,~~040~~439.0605 810,~~641~~242.0001 5.790% 506105251 31 RT Poughkeepsie NY 4644,~~257~~642.0070 1214,~~495~~109.6292 5.850% 310901345 32 RT Allentown PA 4443,~~882~~355.6381 89,~~222~~749.5032 5.750% 310901374 33 RT Tulare CA 4341,~~397~~877.3162 1214,~~689~~208.0675 5.650% 506105237 34 RT Modesto CA 4240,~~391~~943.2914 810,~~766~~214.2035 5.510% 506105116 35 RT Georgetown TX 4947,~~597~~881.6878 1012,~~482~~197.0999 6.620% 506105160 36 OF Various FL 4745,~~114~~486.5683 911,~~708~~335.0780 6.650% 506105224 37 MF Houston TX 4038,~~369~~994.5133 79,~~658~~033.6381 5.700% 310901209 38 RT Lawrence KS 4139,~~232~~794.8696 1012,~~807~~245.1101 5.970% 506105088 39 RT Aberdeen MD 3735,~~051~~784.7019 79,~~853~~120.2172 5.510% 506105217 40 IN North Las Vegas NV 3938,~~633~~286.0883 68,~~850~~196.3257 5.920% 506105085 41 RT Springfield NJ 4038,~~061~~604.2960 1617,~~180~~637.9261 6.080% 850201435 42 MF Philadelphia PA 3231,~~768~~642.8629 89,~~316~~443.7027 5.004% 510901384 43 MH Farr West UT 3433,~~708~~519.2857 78,~~731~~919.1687 5.350% 506104976 44 OF Midvale UT 3433,~~693~~473.1275 1112,~~050~~269.4481 5.430% 506105298 45 RT Reno NV 3635,~~270~~100.8683 0.00 5.770% 310901208 46 IN Glen Burnie MD 3736,~~602~~329.0771 56,~~614~~887.6400 6.330% 310901359 47 MH Morgan Hill CA 3433,~~961~~774.3377 57,~~851~~038.8339 6.010% 506105223 48 IN Waterloo IA 3231,~~265~~002.4454 2324,~~693~~956.9686 5.610% 506105202 49 MF River Edge NJ 3029,~~629~~580.8966 67,~~895~~944.1033 5.310% 506105240 50 OF Cincinnati OH 3231,~~325~~227.9159 56,~~634~~733.8315 5.900% 506105146 51 OF Portland OR 2928,~~556~~550.4861 56,~~457~~463.8976 5.750% 850201393 52 RT Tallahassee FL 22,541.73 0.00 4.531% 310901387 53 SS Monterey Park CA 2726,~~721~~749.8139 89,~~461~~433.1658 5.530% 850201405 54 RT Spartanburg SC 21,798.33 0.00 4.510% 850201274 55 RT Delray Beach FL 2827,~~754~~761.5489 67,~~641~~634.5419 5.865% 850201339 56 RT Brooklyn NY 2827,~~764~~787.8826 56,~~043~~021.9052 5.900% 510901365 57 MH Riverbank CA 2726,~~370~~488.9300 0.00 6.020% 310901373 58 RT Chico CA 2726,~~449~~518.7136 45,~~531~~462.2156 6.060% 310901343 59 IN Vernon CA 24,~~908~~034.1783 78,~~519~~393.8115 5.560% 510901362 60 MH Eugene OR 2827,~~330~~417.9000 0.00 6.327% 506105282 61 RT Rotterdam NY 2524,~~040~~005.8493 2324,~~643~~678.3930 5.750% 506105139 62 IN Millersville MD 23,~~947~~175.5000 0.00 5.400% 850201275 63 MF Brooklyn NY 2625,~~583~~681.9574 45,~~425~~327.4768 6.040% 506105174 64 RT Macon GA 2423,~~785~~940.9695 45,~~782~~627.1516 5.690% 850201263 65 MF Bronx NY 1413,~~401~~908.5098 3,~~053~~545.4496 5.480% 850201235 66 MF Yonkers NY 98,~~204~~889.0209 12,~~972~~287.6760 5.470% 850201240 67 RT Tacoma WA 2726,~~387~~463.9993 34,~~712~~636.3541 6.540% 850201262 68 MF Bronx NY 2221,~~062~~308.6614 45,~~677~~432.7830 5.480% 850201283 69 RT Port St. Lucie FL 2019,~~378~~678.0649 45,~~879~~578.0360 5.180% 310901377 70 RT Mesa AZ 2120,~~213~~493.8810 34,~~697~~418.8563 5.900% 506105220 71 MF Dublin PA 1817,~~509~~875.8703 4,~~329~~964.5337 5.220% 600873025 72 OF Lincoln NE 21,~~771~~015.6307 5,~~157~~913.1167 6.295% 850201230 73 RT Mansfield OH 2019,~~481~~784.4287 34,~~618~~314.4196 5.930% 506105101 74 RT Amarillo TX 2120,~~417~~682.2470 4,~~207~~941.0054 6.210% 850201048 75 RT Lombard IL 17,483.33 0.00 5.245% 506105215 76 RT Auburn WA 2019,~~342~~549.4354 1314,~~519~~312.9988 6.050% 850201388 77 RT Lombard IL 15,560.42 0.00 4.850% 850201433 78 MU Huntington Beach CA 2120,~~469~~725.5173 45,~~670~~414.4927 6.560% 850201261 79 MF Bronx NY 17,~~855~~245.8015 34,~~785~~396.8348 5.480% 850201294 80 RT Stony Brook NY 1817,~~188~~551.8978 5,~~289~~926.4354 5.700% 506105184 81 RT Tucson AZ 1918,~~068~~422.1243 23,~~957~~603.4110 6.190% 410901385 82 SS Sparks NV 15,~~709~~155.2683 5,~~333~~887.5700 5.240% 506105163 83 SS Novi MI 1817,~~148~~516.2434 45,~~573~~205.7868 6.080% 506105136 84 MF Philadelphia PA 16,~~611~~028.6298 5,~~028~~610.0064 5.570% 510901391 85 MH Phoenix AZ 16,~~720~~180.0166 0.00 5.715% 506105216 86 OF Henderson NV 17,~~774~~171.0457 23,~~851~~454.7522 6.110% 410901390 87 SS Reno NV 1514,~~016~~487.5350 5,~~098~~627.3841 5.240% 506105213 88 RT Post Falls ID 1716,~~585~~989.0834 23,~~780~~376.7145 6.130% 410901132 89 RT Rocklin CA 1615,~~126~~560.5921 45,~~847~~413.3775 5.700% 410901407 90 MF Eagle River AK 1413,~~067~~570.6523 5,~~223~~721.8224 5.000% 410901392 91 SS Gardnerville NV 1413,~~301~~797.4662 45,~~855~~359.5943 5.240% 850201267 92 RT Dallas TX 16,~~817~~247.3392 23,~~577~~147.7617 6.250% 620901164 93 OF Minneapolis MN 1514,~~080~~551.8387 4,~~421~~950.4743 5.750% 850201232 94 MF Bronx NY 1312,~~305~~849.0680 23,~~851~~306.6288 5.470% 506105054 95 RT Kendall FL 11,~~869~~448.2799 4,~~434~~854.0533 5.050% 850201229 96 RT Geneva NY 1413,~~185~~703.4998 2,~~353~~834.1566 6.080% 506105221 97 RT Roseville CA 13,~~660~~196.7769 2,~~371~~835.2028 5.910% 410901389 98 SS Reno NV 1211,~~066~~641.8674 4,~~096~~522.9002 5.240% 850201272 99 RT Sunrise FL 13,~~502~~036.1302 3,~~118~~584.6475 5.865% 620901399 100 RT Lexington SC 1312,~~015~~574.3817 2,~~102~~543.2142 6.080% 850201337 101 MU New York NY 12,~~650~~221.0260 12,~~979~~407.2365 6.155% 506105087 102 SS Various Various 1211,~~286~~851.7466 34,~~696~~131.6876 6.270% 850201323 103 IN Ocala FL 11,~~462~~072.0496 12,~~930~~319.7381 5.995% 506105182 104 SS Phoenix AZ 10,~~783~~363.7733 7,~~085~~505.0549 6.130% 850201284 105 RT Port St. Lucie FL 98,~~017~~708.6205 2,~~159~~468.0562 5.180% 850201233 106 MF Bronx NY 9,~~390~~069.4313 2,~~012~~333.6292 5.470% 506105159 107 MF Madera CA 9,~~846~~511.8093 12,~~753~~088.6047 5.880% 506105183 108 IN Annapolis MD 98,~~067~~775.5000 0.00 5.400% 506105138 109 SS Peoria AZ 11,~~949~~523.7301 3,~~431~~857.1385 7.190% 506105137 110 IN Hanover MD 8,~~835~~550.00 0.00 5.400% 506105219 111 MF Dublin PA 87,~~251~~968.39 12,~~930~~213.03 5.220% 410901417 112 RT Grand Prairie TX 9,~~375~~048.6092 2,~~434~~761.6028 5.960% 506105004 113 SS Pearland TX 98,~~063~~746.7652 2,~~539~~856.0630 5.860% 850201234 114 MF Mount Vernon NY 7,~~572~~313.9381 1,~~623~~882.0820 5.470% 850201293 115 IN Winona MN 6,~~487~~264.8499 1,~~309~~532.6348 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 ~~173~~166,~~095~~333.3954 112,202.2423 6.300% 850201222 7A 3029,~~709~~658.9780 67,~~562~~613.4562 5.520% Totals 5,~~312~~147,~~452~~966.0557 1,~~090~~215,~~029~~152.9773

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 31,~~906~~682,~~984~~579.3183 31,~~794~~570,~~782~~377.0759 0709/09/2004 850201269 N/A 10/01/2013 N 62,~~477~~369,~~341~~602.1381 62,~~423~~304,~~612~~758.8567 0810/01/2004 850201183 N/A 07/01/2013 N 48,~~682~~583,~~803~~805.5545 48,~~633~~526,~~421~~507.8092 0810/01/2004 506105208 N/A 12/01/2013 N 42,~~659~~567,~~620~~380.1058 42,~~613~~514,~~601~~913.5998 0810/01/2004 850201321 N/A 11/01/2010 N 39,400,000.00 39,400,000.00 0810/01/2004 850201220 N/A 06/01/2013 N 28,~~555~~497,~~405~~257.6475 28,~~526~~463,~~400~~606.6377 0709/01/2004 510901361 N/A 11/01/2008 N 31,~~225~~161,~~594~~360.0515 31,~~193~~124,~~550~~390.9116 0810/01/2004 506105243 N/A 02/01/2014 N 24,500,000.00 24,500,000.00 0809/01/2004 850201407 N/A 02/01/2009 N 23,650,000.00 23,650,000.00 0810/01/2004 506105253 N/A 01/01/2014 N 18,~~895~~863,~~089~~710.9002 18,~~879~~844,~~441~~667.4634 0809/01/2004 506105094 N/A 01/01/2014 N 16,500,000.00 16,500,000.00 0810/01/2004 310901352 N/A 01/01/2014 N 16,~~303~~273,~~141~~749.5387 16,~~288~~256,~~482~~303.5613 0810/01/2004 310901369 N/A 12/01/2013 N 15,~~888~~858,~~303~~571.7997 15,~~873~~841,~~474~~079.3614 0810/01/2004 506105155 N/A 03/01/2014 N 15,~~237~~207,~~129~~575.5845 15,~~222~~190,~~387~~374.36 0810/01/2004 850201379 N/A 01/01/2014 N 14,950,000.00 14,950,000.00 0810/01/2004 510901364 N/A 11/01/2013 N 13,520,000.00 13,520,000.00 0810/01/2004 506105197 01/01/2013 02/01/2034 N 12,~~724~~701,~~717~~892.6050 12,~~713~~688,~~333~~325.7790 0810/01/2004 310901401 N/A 01/01/2014 N 12,~~327~~306,~~948~~157.4426 12,~~317~~293,~~080~~155.5432 0810/01/2004 310901321 N/A 12/01/2013 N 11,~~917~~895,~~219~~226.71 11,~~906~~882,~~250~~241.4665 0810/01/2004 506105188 N/A 01/01/2024 N 11,~~855~~808,~~372~~957.5709 11,~~832~~783,~~229~~425.5073 0810/01/2004 610901341 N/A 12/01/2013 N 11,~~827~~779,~~298~~117.4568 11,~~803~~752,~~272~~784.8207 0810/01/2004 506105248 N/A 01/01/2014 N 11,200,000.00 11,200,000.00 0810/01/2004 506105111 N/A 11/01/2013 N 11,000,000.00 11,000,000.00 0810/01/2004 506105070 N/A 02/01/2014 N 10,~~910~~876,~~476~~631.6080 10,~~893~~858,~~591~~040.6479 0810/01/2004 850201403 N/A 02/01/2009 N 10,000,000.00 10,000,000.00 0810/01/2004 850201431 N/A 03/01/2014 N 9,~~959~~940,~~435~~399.0123 9,~~949~~929,~~939~~280.8158 0710/01/2004 310901388 N/A 12/01/2013 N 9,~~933~~915,~~053~~355.9062 9,~~924~~904,~~227~~811.2210 0810/01/2004 506105232 N/A 01/01/2019 N 9,~~784~~713,~~961~~938.6224 9,~~749~~676,~~533~~696.5230 0810/01/2004 506105191 N/A 12/01/2013 N 9,~~434~~417,~~744~~419.5143 9,~~426~~407,~~103~~177.5142 0810/01/2004 506105251 02/01/2014 03/01/2029 N 9,~~182~~157,~~530~~476.3213 9,~~170~~143,~~034~~366.7021 0810/01/2004 310901345 N/A 03/01/2014 N 9,~~064~~048,~~654~~168.2150 9,~~056~~038,~~431~~419.7118 0810/01/2004 310901374 N/A 01/01/2014 N 8,~~919~~894,~~801~~361.6277 8,~~907~~880,~~112~~153.5602 0810/01/2004 506105237 12/01/2013 01/01/2034 N 8,~~934~~916,~~409~~835.6465 8,~~925~~906,~~643~~621.4430 0810/01/2004 506105116 N/A 10/01/2018 N 8,~~700~~679,~~500~~476.0917 8,~~690~~667,~~018~~278.0117 0810/01/2004 506105160 N/A 12/01/2018 N 8,~~227~~208,~~621~~149.1743 8,~~217~~196,~~913~~813.0963 0810/01/2004 506105224 N/A 01/01/2014 N 8,~~224~~209,~~688~~333.0318 8,~~217~~200,~~029~~299.4037 0810/01/2004 310901209 N/A 12/01/2013 N 87,~~020~~998,~~656~~986.2951 87,~~009~~986,~~849~~741.1850 0810/01/2004 506105088 N/A 08/01/2013 N 7,~~809~~793,~~034~~290.2455 7,~~801~~784,~~181~~169.0283 0810/01/2004 506105217 N/A 01/01/2014 N 7,~~774~~760,~~580~~844.0650 7,~~767~~752,~~729~~647.7493 0810/01/2004 506105085 10/01/2017 11/01/2023 N 7,~~651~~619,~~775~~328.0348 7,~~635~~601,~~594~~690.1187 0810/01/2004 850201435 N/A 02/01/2009 N 7,~~604~~588,~~748~~078.0783 7,~~596~~578,~~431~~635.3756 0710/01/2004 510901384 N/A 11/01/2008 N 7,~~533~~518,~~905~~407.0815 7,~~526~~509,~~173~~487.9228 0810/01/2004 506104976 N/A 12/01/2013 N 7,~~419~~397,~~665~~512.4893 7,~~408~~385,~~615~~243.0411 0809/01/2004 506105298 N/A 02/01/2014 N 7,300,000.00 7,300,000.00 0810/01/2004 310901208 N/A 09/01/2013 N 6,~~898~~887,~~408~~148.0719 6,~~892~~880,~~793~~261.4319 0810/01/2004 310901359 N/A 12/01/2013 N 6,~~755~~743,~~449~~715.1722 6,~~749~~736,~~597~~676.3483 0709/01/2004 506105223 02/01/2013 03/01/2019 N 6,~~679~~631,~~061~~559.9960 6,~~655~~606,~~368~~602.0274 0810/01/2004 506105202 N/A 12/01/2013 N 6,~~698~~684,~~717~~895.6491 6,~~691~~676,~~822~~951.5458 0810/01/2004 506105240 N/A 01/01/2014 N 6,~~362~~351,~~671~~373.8354 6,~~357~~344,~~037~~640.0038 0810/01/2004 506105146 N/A 02/01/2014 N 5,~~969~~958,~~330~~387.6180 5,~~963~~951,~~872~~924.7103 0809/01/2004 850201393 N/A 02/01/2009 N 5,970,000.00 5,970,000.00 0709/01/2004 310901387 N/A 01/01/2009 N 5,~~821~~804,~~531~~568.1756 5,~~813~~795,~~070~~134.0198 0810/01/2004 850201405 N/A 08/01/2010 N 5,800,000.00 5,800,000.00 0810/01/2004 850201274 N/A 11/01/2013 N 5,~~693~~680,~~497~~181.8623 5,~~686~~672,~~856~~547.3204 0810/01/2004 850201339 N/A 12/01/2013 N 5,~~661~~651,~~758~~645.5411 5,~~656~~645,~~714~~623.6459 0810/01/2004 510901365 N/A 11/01/2013 N 5,280,000.00 5,280,000.00 0810/01/2004 310901373 N/A 11/01/2013 N 5,~~260~~251,~~245~~159.5347 5,~~255~~245,~~714~~696.3291 0810/01/2004 310901343 N/A 01/01/2014 N 5,~~202~~187,~~449~~374.7109 5,~~194~~178,~~929~~980.9094 0810/01/2004 510901362 N/A 11/01/2015 N 5,200,000.00 5,200,000.00 0810/01/2004 506105282 N/A 07/01/2016 N 5,~~057~~009,~~337~~933.3046 54,~~033~~985,~~693~~255.9116 0809/01/2004 506105139 N/A 10/01/2013 N 5,150,000.00 5,150,000.00 0810/01/2004 850201275 N/A 11/01/2013 N 5,~~111~~102,~~205~~331.7579 5,~~106~~097,~~780~~004.2811 0810/01/2004 506105174 11/01/2013 12/01/2033 N 5,~~058~~049,~~645~~057.5581 5,~~053~~043,~~863~~430.4065 0810/01/2004 850201263 N/A 10/01/2008 N 3,~~051~~045,~~882~~761.8657 3,~~048~~042,~~829~~215.4261 0810/01/2004 850201235 N/A 09/01/2008 N 1,~~954~~950,~~029~~075.9229 1,~~952~~947,~~057~~787.2569 0810/01/2004 850201240 N/A 10/01/2013 N 4,~~863~~855,~~212~~767.8828 4,~~859~~851,~~500~~130.5387 0810/01/2004 850201262 N/A 10/01/2008 N 4,~~675~~666,~~393~~015.4784 4,~~670~~660,~~715~~583.6954 0810/01/2004 850201283 N/A 11/01/2010 N 4,~~568~~558,~~502~~723.9210 4,~~563~~553,~~623~~144.8950 0709/01/2004 310901377 N/A 01/01/2014 N 4,~~175~~168,~~503~~088.4293 4,~~171~~163,~~805~~670.5730 0810/01/2004 506105220 N/A 12/01/2013 N 4,~~117~~109,~~880~~202.7826 4,~~113~~104,~~551~~237.2589 0810/01/2004 600873025 N/A 10/01/2010 N 4,~~016~~006,~~391~~049.3518 4,~~011~~000,~~234~~135.2451 0709/01/2004 850201230 09/01/2013 10/01/2033 N 4,~~010~~003,~~939~~683.2595 43,~~007~~999,~~320~~368.8499 0810/01/2004 506105101 N/A 09/01/2013 N 43,~~005~~996,~~094~~657.1868 43,~~000~~991,~~887~~716.1815 0810/01/2004 850201048 N/A 02/01/2010 N 4,000,000.00 4,000,000.00 0810/01/2004 506105215 N/A 12/01/2018 N 3,~~904~~877,~~705~~595.6221 3,~~891~~863,~~185~~282.6333 0810/01/2004 850201388 01/01/2009 02/01/2004 N 3,850,000.00 3,850,000.00 0810/01/2004 850201433 N/A 09/01/2013 N 3,~~800~~791,~~659~~292.8245 3,~~795~~785,~~989~~878.3318 0810/01/2004 850201261 N/A 10/01/2008 N 3,~~783~~776,~~898~~309.9239 3,~~780~~771,~~113~~912.0991 0810/01/2004 850201294 N/A 11/01/2013 N 3,~~705~~695,~~716~~111.2947 3,~~700~~689,~~426~~184.8693 0810/01/2004 506105184 N/A 12/01/2013 N 3,~~577~~571,~~322~~391.2163 3,~~574~~567,~~364~~788.8153 0810/01/2004 410901385 N/A 01/01/2009 N 3,~~481~~470,~~491~~799.1999 3,~~476~~464,~~157~~912.6299 0810/01/2004 506105163 N/A 12/01/2013 N 3,~~466~~457,~~344~~173.7120 3,~~461~~451,~~770~~967.9352 0810/01/2004 506105136 N/A 12/01/2013 N 3,~~463~~453,~~360~~280.3827 3,~~458~~447,~~332~~669.3963 0809/01/2004 510901391 N/A 11/01/2010 N 3,397,513.00 3,397,513.00 0810/01/2004 506105216 N/A 12/01/2013 N 3,~~378~~372,~~203~~485.7727 3,~~375~~369,~~352~~031.0205 0810/01/2004 410901390 N/A 01/01/2009 N 3,~~327~~317,~~968~~749.8206 3,~~322~~312,~~870~~121.4465 0810/01/2004 506105213 01/01/2014 02/01/2034 N 3,~~331~~325,~~384~~808.5445 3,~~328~~322,~~603~~431.8399 0810/01/2004 410901132 N/A 06/01/2013 N 3,~~285~~275,~~552~~833.4288 3,~~280~~270,~~705~~420.0513 0810/01/2004 410901407 N/A 01/01/2009 N 3,~~267~~256,~~325~~855.3017 3,~~262~~251,~~101~~133.4893 0810/01/2004 410901392 N/A 01/01/2009 N 3,~~169~~159,~~494~~761.1506 3,~~164~~154,~~638~~401.5663 0810/01/2004 850201267 N/A 10/01/2013 N 3,~~124~~119,~~769~~599.1273 3,~~122~~116,~~191~~452.3656 0810/01/2004 620901164 N/A 07/01/2013 N 3,~~045~~036,~~777~~912.3754 3,~~041~~031,~~355~~962.9011 0810/01/2004 850201232 N/A 09/01/2008 N 2,~~824~~818,~~686~~969.3366 2,~~821~~815,~~834~~662.7178 0810/01/2004 506105054 N/A 09/01/2013 N 2,~~729~~720,~~439~~552.8042 2,~~725~~715,~~005~~698.7509 0810/01/2004 850201229 09/01/2013 10/01/2033 N 2,~~709~~704,~~452~~733.4684 2,~~707~~701,~~099~~899.3118 0810/01/2004 506105221 01/01/2014 02/01/2034 N 2,~~684~~679,~~285~~530.0660 2,~~681~~676,~~913~~695.8631 0810/01/2004 410901389 N/A 01/01/2009 N 2,~~674~~666,~~260~~048.7041 2,~~670~~661,~~163~~526.8039 0810/01/2004 850201272 N/A 11/01/2013 N 2,~~673~~667,~~468~~215.5451 2,~~670~~663,~~349~~630.9076 0810/01/2004 620901399 N/A 01/01/2014 N 2,~~485~~481,~~960~~744.0462 2,~~483~~479,~~857~~201.8320 0810/01/2004 850201337 N/A 01/01/2014 N 2,~~386~~382,~~734~~765.1015 2,~~384~~380,~~754~~357.8750 0810/01/2004 506105087 N/A 10/01/2013 N 2,~~275~~268,~~672~~259.8351 2,~~271~~264,~~976~~127.1574 0810/01/2004 850201323 12/01/2013 01/01/2034 N 2,~~220~~216,~~309~~438.5310 2,~~218~~214,~~378~~118.8029 0810/01/2004 506105182 N/A 11/01/2018 N 2,~~042~~028,~~918~~710.2676 2,~~035~~021,~~833~~205.2127 0810/01/2004 850201284 N/A 11/01/2010 N 2,~~021~~017,~~636~~309.8916 2,~~019~~014,~~477~~840.8454 0709/01/2004 850201233 N/A 09/01/2008 N 1,~~993~~989,~~605~~570.2452 1,~~991~~987,~~592~~236.6260 0810/01/2004 506105159 N/A 11/01/2013 N 1,~~944~~941,~~726~~210.7971 1,~~942~~939,~~973~~122.1925 0810/01/2004 506105183 N/A 10/01/2013 N 1,950,000.00 1,950,000.00 0810/01/2004 506105138 N/A 12/01/2023 N 1,~~930~~923,~~056~~172.2474 1,~~926~~919,~~625~~314.1189 0810/01/2004 506105137 N/A 10/01/2013 N 1,900,000.00 1,900,000.00 0810/01/2004 506105219 N/A 12/01/2013 N 1,~~835~~831,~~681~~813.7804 1,~~833~~829,~~751~~600.7501 0810/01/2004 410901417 N/A 02/01/2014 N 1,~~826~~821,~~811~~930.7304 1,~~824~~819,~~377~~168.1376 0810/01/2004 506105004 N/A 08/01/2013 N 1,~~796~~791,~~187~~096.5966 1,~~793~~788,~~648~~240.5336 0810/01/2004 850201234 N/A 09/01/2008 N 1,~~607~~604,~~746~~492.1535 1,~~606~~602,~~123~~610.0715 0810/01/2004 850201293 N/A 12/01/2013 N 1,~~215~~212,~~204~~578.4924 1,~~213~~211,~~894~~045.8676 0810/01/2004 506105270 N/A 01/01/2009 N 68,393,600.00 68,393,600.00 0810/01/2004 506105271 N/A 01/01/2011 N 24,406,400.00 24,406,400.00 0810/01/2004 510901515 N/A 05/09/2013 N 31,~~906~~682,~~984~~579.3587 31,~~794~~570,~~782~~377.1164 0709/09/2004 850201222 N/A 06/01/2013 N 6,~~460~~447,~~722~~565.0898 6,~~454~~439,~~159~~952.6336 0709/01/2004 Totals 1,~~103~~101,~~922~~738,~~391~~055.6472 1,~~102~~100,~~832~~522,~~361~~902.6798

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 10/12/2004 0 $0.00 0 $0.00 0 $0.00 09/13/2004 0 $0.00 0 $0.00 0 $0.00 08/11/2004 0 $0.00 0 $0.00 0 $0.00 07/12/2004 0 $0.00 0 $0.00 0 $0.00 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 10/12/2004 0 $0.00 0 $0.00 0 $0.00 09/13/2004 0 $0.00 0 $0.00 0 $0.00 08/11/2004 0 $0.00 0 $0.00 0 $0.00 07/12/2004 0 $0.00 0 $0.00 0 $0.00 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 10/12/2004 0 $0.00 0 $0.00 5.606843% 5.562138% 99 09/13/2004 0 $0.00 0 $0.00 5.607104% 5.562398% 100 08/11/2004 0 $0.00 0 $0.00 5.607347% 5.562640% 101 07/12/2004 0 $0.00 0 $0.00 5.607589% 5.562881% 102 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 0709/01/2004 163,~~017~~076.1002 163,~~017~~076.1002 A ~~850201431~~506105243 279 0 0709/01/2004 56106,~~835~~156.7146 56106,~~835~~156.7146 AB ~~850201435~~506105253 4211 0 0709/01/2004 40114,~~627~~610.1695 40114,~~627~~610.1695 AB 506104976 44 0 09/01/2004 45,555.54 45,555.54 B 310901359 47 0 0709/01/2004 40,~~638~~644.6457 40,~~638~~644.6457 A 506105146 51 0 09/01/2004 34,614.66 34,614.66 B 850201393 52 0 0709/01/2004 22,392.47 22,392.47 A 506105282 61 0 09/01/2004 48,556.89 48,556.89 B 850201283 69 0 0709/01/2004 25,~~139~~143.0713 25,~~139~~143.0713 A 600873025 72 0 0709/01/2004 26,~~513~~528.7113 26,~~513~~528.7113 A 506105136 84 0 09/01/2004 21,407.96 21,407.96 B 850201284 105 0 0709/01/2004 11,~~124~~126.4523 11,~~124~~126.4523 A 850201222 7A 0 0709/01/2004 36,~~882~~896.9832 36,~~882~~896.9832 A Totals 913 ~~423~~696,~~171~~709.2934 ~~423~~696,~~171~~709.2934

Resolution Servicing Actual Outstanding Loan Strategy Transfer Foreclosure Principal Servicing Bankruptcy REO Number Code (2) Date Date Balance Advances Date Date 850201220 28,~~555~~497,~~405~~257.6475 0.00 ~~850201431~~506105243 924,~~959~~500,~~435~~000.0100 0.00 ~~850201435~~506105253 18,863,710.02 0.00 506104976 7,~~604~~397,~~748~~512.0793 0.00 310901359 6,~~755~~743,~~449~~715.1722 0.00 506105146 5,958,387.80 0.00 850201393 5,970,000.00 0.00 506105282 5,009,933.46 0.00 850201283 4,~~568~~558,~~502~~723.9109 0.00 600873025 4,~~016~~006,~~391~~049.3518 0.00 506105136 3,453,280.27 0.00 850201284 2,~~021~~017,~~636~~309.8916 0.00 850201222 6,~~460~~447,~~722~~565.0898 0.00 Totals 75123,~~912~~423,~~291~~444.1285 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 (97 loans) ~~423~~325,~~171~~806.2987 ~~423~~325,~~171~~806.2987 7558,~~912~~240,~~291~~620.1238 0.00 Total for Status Code = B (6 loans) 370,902.47 370,902.47 65,182,824.47 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 this Period Liquidated Loan Detail No Liquidated Loans this Period

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