TERMS AND LIMITATIONS
The estimate of defeasance costs provided herein is subject to the following terms and limitations:
This is only an estimate of the charges that you are likely to incur at settlement. The actual charges you
incur may be more or less than the estimate,
based upon market conditions and other factors. The cost of the securities stated herein is based on a
pricing quotation obtained from Trimont LLC,
but you are under no obligation to purchase securities from Trimont LLC. The third party
expenses represented are estimates based on our experience
with third-party providers in standard defeasance transactions of similar mortgage loans. While we consider
such sources to be reliable, we do not represent that
the cost estimates are accurate or complete, and they should not be relied upon as such. THE ESTIMATE IS
PROVIDED WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND,
WHETHER EXPRESSED, IMPLIED OR STATUTORY. Nothing herein shall be construed as an offer to sell, or the
solicitation of any offer to buy, any security in any
jurisdiction where such an offer or solicitation would be illegal.
We are providing this estimate only in anticipation of being engaged by you to serve as a consultant with
respect to the defeasance of the loan. We are not
providing the estimate in any capacity other than as a potential provider of defeasance consulting services. In such
capacity, we are acting solely as an independent contractor of the borrower, and not as a fiduciary or partner of
the borrower. You, and the servicer of your loan, must examine the applicable loan documentation to
determine whether the loan is or will be eligible for defeasance, and if so, the specific conditions to closing. In
providing you with
this quotation, we have not reviewed the applicable loan documents, and therefore make no representation as
to whether the loan is or will be eligible for defeasance. We have assumed, without independent
verification, that: (a) the applicable loan documents
permit you to defease the loan and contain customary provisions regarding defeasance, (b) you will defease the
loan in full, and solely with eligible, direct United States Treasury obligations, (c) all amounts due under
the loan prior to the date of defeasance will be paid on or before the expiration of the applicable grace period,
and (d) the loan is not in default.
Our estimate does not include the fees of attorneys, title companies, brokers or other third parties who may be
involved in any related real estate transaction.
The estimate is delivered to you on a confidential basis. By requesting the estimate, you agree to keep it
confidential, and to not disclose it to any person
or entity without our written consent, except employees, agents or affiliates who have a need to know such
information, and to the extent necessary in working
with legal counsel, auditors, taxing authorities or other governmental agencies.
