Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Annual Report 12± 57K
3: EX-33.1 ABS - Report of Compliance with Servicing Criteria 14± 64K
4: EX-33.2 ABS - Report of Compliance with Servicing Criteria 8± 43K
5: EX-33.3 ABS - Report of Compliance with Servicing Criteria 9± 47K
6: EX-33.4 ABS - Report of Compliance with Servicing Criteria 12± 64K
7: EX-33.5 ABS - Report of Compliance with Servicing Criteria 9± 48K
8: EX-33.6 ABS - Report of Compliance with Servicing Criteria 23± 107K
9: EX-34.1 ABS - Attestation Report on Assessment of 2± 16K
Compliance with Servicing Criteria
10: EX-34.2 ABS - Attestation Report on Assessment of 1 12K
Compliance with Servicing Criteria
11: EX-34.3 ABS - Attestation Report on Assessment of 2± 13K
Compliance with Servicing Criteria
12: EX-34.4 ABS - Attestation Report on Assessment of 2± 13K
Compliance with Servicing Criteria
13: EX-34.5 ABS - Attestation Report on Assessment of 2± 17K
Compliance with Servicing Criteria
14: EX-34.6 ABS - Attestation Report on Assessment of 2± 16K
Compliance with Servicing Criteria
15: EX-35.1 ABS - Servicer Compliance Statement 12± 58K
16: EX-35.2 ABS - Servicer Compliance Statement 3± 17K
17: EX-35.3 ABS - Servicer Compliance Statement 1 11K
18: EX-35.4 ABS - Servicer Compliance Statement 1 11K
2: EX-31 Certification -- Sarbanes-Oxley Act - Sect. 302 1 11K
EX-33.4 — ABS – Report of Compliance with Servicing Criteria
EX-33.4
(logo) TORCHLIGHT
INVESTORS
TORCHLIGHT LOAN SERVICES
Certification Regarding Compliance with Applicable Servicing Criteria on SEC
Regulation AB
1. Torchlight Loan Services, LLC (the "Company") is responsible for assessing
compliance with the servicing criteria applicable to it under paragraph (d)
of Item 1122 of Regulation AB, as of and for the 12-month period ended
December 31, 2013 (the "Reporting Period"), as set forth in Appendix A
hereto. The transactions covered by this report include commercial
mortgage-backed securities transactions that were issued on or after
January 1, 2006 and that were registered with the SEC pursuant to the
Securities Act of 1933, for which the Company acted as special servicer (the
"Platform");
2. The commercial mortgage-backed securities transactions covered by this
Platform, for the 12-month period ended December 31, 2013 are included in
Appendix B hereto;
3. Except as set forth in paragraph 4 below, the Company used the criteria set
forth in paragraph (d) of Item 1122 of Regulation AB to assess the compliance
with the applicable servicing criteria;
4. The criteria listed in the column titled "Inapplicable Servicing Criteria" on
Appendix A hereto are inapplicable to the Company based on the activities it
performs, directly or through its Vendors, with respect to the Platform;
5. The Company has complied, in all material respects, with the applicable
servicing criteria as of December 31, 2013 and for the Reporting Period with
respect to the Platform taken as a whole; and
6. CohnReznick LLP, an independent registered public accounting firm, has issued
an attestation report on the Company's assessment of compliance with the
applicable servicing criteria for the Reporting Period.
MARCH 13, 2014
Torchlight Loan Services, LLC
By:/s/ Jacob Baron
Name: Jacob Baron
Title: Authorized Signatory
230 Park Avenue New York, New York 10169
T 212.488.3653 F 646.253.9753
E jbaron@torchlightinvestors.com
www.torchlightinvestors.com
5
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Appendix A
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
NOT performed
Performed Performed by by Torchlight
by Vendor(s) subservicer(s) Loan Services
for which or vendor(s) for or by
Performed Torchlight which Torchlight subservicer(s)
Directly Loan Services Loan Services or vendor(s)
by Torchlight is the is NOT the retained by
Loan Responsible Responsible Torchlight
Services Party Party Loan Services
Reference Criteria
General Servicing Considerations
Policies and procedures are instituted X
to monitor any performance or other
triggers and events of default in
accordance with the transaction
1122(d)(1)(i) agreements.
If any material servicing activities X
are outsourced to third parties, policies
and procedures are instituted to monitor
the third party's performance and
compliance with such servicing
1122(d)(1)(ii) activities.
Any requirements in the transaction X
agreements to maintain a back-up servicer
1122(d)(1)(iii) for the pool assets are maintained.
A fidelity bond and errors and X
omissions policy is in effect on the
party participating in the servicing
function throughout the reporting period
in the amount of coverage required by and
otherwise in accordance with the terms of
1122(d)(1)(iv) the transaction agreements.
Cash Collection and Administration
Payments on [pool assets] are deposited X
into the appropriate custodial bank
accounts and related bank clearing
accounts no more than two business days
following receipt, or such other number
of days specified in the transaction
1122(d)(2)(i) agreements.
Disbursements made via wire transfer on X
behalf of an obligor or to investor are
1122(d)(2)(ii) made only by authorized personnel.
Advances of funds or guarantees X
regarding collections, cash flows or
distributions, and any interest or other
fees charged for such advances, are made,
reviewed and approved as specified in
1122(d)(2)(iii) the transaction agreements.
The related accounts for the X
transaction, such as cash reserve
accounts or accounts established as a
form of overcollateralization, are
separately maintained (e.g., with respect
1122(d)(2)(iv) to commingling of
4
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Appendix A
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
NOT performed
Performed Performed by by Torchlight
by Vendor(s) subservicer(s) Loan Services
for which or vendor(s) for or by
Performed Torchlight which Torchlight subservicer(s)
Directly Loan Services Loan Services or vendor(s)
by Torchlight is the is NOT the retained by
Loan Responsible Responsible Torchlight
Services Party Party Loan Services
Reference Criteria
cash) as set forth in
the transaction agreements.
Each custodial account is maintained at X
a federally insured depository
institution as set forth in the
transaction agreements. For purposes of
this criterion, "federally insured
depository institution" with respect to a
foreign financial institution means a
foreign financial institution that meets
the requirements of Rule 13k-1(b)(1)
1122(d)(2)(v) of the Securities Exchange Act.
Unissued checks are safeguarded so as X
1122(d)(2)(vi)^i to prevent unauthorized access.
Reconciliations are prepared on a X
monthly basis for all asset-backed
securities related bank accounts,
including custodial accounts and related
bank clearing accounts. These
reconciliations are (A) mathematically
accurate; (B) prepared within 30
calendar days after the bank statement
cutoff date, or such other number of days
specified in the transaction agreements;
(C) reviewed and approved by someone
other than the person who prepared the
reconciliation; and (D) contain
explanations for reconciling items.
These reconciling items are resolved
within 90 calendar days of their original
identification, or such other number of
days specified in the transaction
1122(d)(2)(vii) agreements.
Investor Remittances and Reporting
Reports to investors, including those
to be filed with the Commission, are
maintained in accordance with the
transaction agreements and applicable
Commission requirements. Specifically,
1122(d)(3)(i) such reports:
are prepared in accordance with X
timeframes and other terms set forth in
1122(d)(3)(i)(A) the transaction agreements;
5
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Appendix A
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
NOT performed
Performed Performed by by Torchlight
by Vendor(s) subservicer(s) Loan Services
for which or vendor(s) for or by
Performed Torchlight which Torchlight subservicer(s)
Directly Loan Services Loan Services or vendor(s)
by Torchlight is the is NOT the retained by
Loan Responsible Responsible Torchlight
Services Party Party Loan Services
Reference Criteria
provide information calculated in X
accordance with the terms specified in
1122(d)(3)(i)(B) the transaction agreements;
are filed with the Commission as X
1122(d)(3)(i)(C) required by its rules and regulations;
agree with the investors' or trustee's X
records as to the total unpaid principal
balance and number of pool assets
1122(d)(3)(i)(D) serviced by the Servicer.
Amounts due to investors are allocated X
and remitted in accordance with
timeframes, distribution priority and
other terms set forth in the transaction
1122(d)(3)(ii) agreements.
Disbursements made to an investor are X
posted within two business days to the
Servicer's investor records, or such other
number of days specified in the transaction
1122(d)(3)(iii) agreements.
Amounts remitted to investors per the X
investor reports agree with cancelled
checks, or other form of payment, or
1122(d)(3)(iv) custodial bank statements.
Pool Asset Administration
Collateral or security on [pool assets] X
is maintained as required by the
transaction agreements or related
1122(d)(4)(i) mortgage loan documents.
[pool asset] and related documents are X
safeguarded as required by the
1122(d)(4)(ii) transaction agreements
Any additions, removals or substitutions X
to the asset pool are made, reviewed
and approved in accordance with
any conditions or requirements in the
1122(d)(4)(iii) transaction agreements.
Payments on pool assets, including any X
payoffs, made in accordance with related
pool asset documents are posted to the
Servicer's obligor records maintained no
more than two business days after
1122(d)(4)(iv)^ii receipt, or
6
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Appendix A
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
NOT performed
Performed Performed by by Torchlight
by Vendor(s) subservicer(s) Loan Services
for which or vendor(s) for or by
Performed Torchlight which Torchlight subservicer(s)
Directly Loan Services Loan Services or vendor(s)
by Torchlight is the is NOT the retained by
Loan Responsible Responsible Torchlight
Services Party Party Loan Services
Reference Criteria
such other number of days
specified in the transaction agreements,
and allocated to principal, interest or
other items (e.g., escrow) in accordance
with the related pool asset documents.
The Servicer's records regarding the X
pool assets agree with the Servicer's
records with respect to an obligor's
1122(d)(4)(v) unpaid principal balance.
Changes with respect to the terms or X
status of an obligor's pool assets (e.g.,
loan modifications or re-agings)
are made, reviewed and approved
by authorized personnel in accordance
with the transaction agreements and
1122(d)(4)(vi) related pool asset documents.
Loss mitigation or recovery actions X
(e.g., forbearance plans, modifications
and deeds in lieu of foreclosure,
foreclosures and repossessions, as
applicable) are initiated, conducted and
concluded in accordance with the
timeframes or other requirements
established by the transaction
1122(d)(4)(vii) agreements.
Records documenting collection efforts X
are maintained during the period a pool
asset is delinquent in accordance with
the transaction agreements. Such records
are maintained on at least a monthly
basis, or such other period specified in
the transaction agreements, and describe
the entity's activities in monitoring
delinquent pool assets including, for
example, phone calls, letters and payment
rescheduling plans in cases where
delinquency is deemed temporary (e.g.,
1122(d)(4)(viii) illness or unemployment).
Adjustments to interest rates or rates X
of return for pool assets with variable
rates are computed based on the related
1122(d)(4)(ix) pool asset documents.
7
(page)
Appendix A
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
NOT performed
Performed Performed by by Torchlight
by Vendor(s) subservicer(s) Loan Services
for which or vendor(s) for or by
Performed Torchlight which Torchlight subservicer(s)
Directly Loan Services Loan Services or vendor(s)
by Torchlight is the is NOT the retained by
Loan Responsible Responsible Torchlight
Services Party Party Loan Services
Reference Criteria
Regarding any funds held in trust for X
an obligor (such as escrow accounts): (A)
such funds are analyzed, in accordance
with the obligor's [pool asset] documents,
on at least an annual basis, or such
other period specified in the transaction
agreements; (B) interest on such funds is
paid, or credited, to obligors in
accordance with applicable pool asset
documents and state laws; and (C) such
funds are returned to the obligor within
30 calendar days of full repayment of the
related pool assets, or such other number
of days specified in the transaction
1122(d)(4)(x) agreements.
Payments made on behalf of an obligor X
(such as tax or insurance payments) are
made on or before the related penalty or
expiration dates, as indicated on the
appropriate bills or notices for such
payments, provided that such support has
been received by the servicer at least 30
calendar days prior to these dates, or
such other number of days specified in
1122(d)(4)(xi) the transaction agreements.
Any late payment penalties in X
connection with any payment to be made on
behalf of an obligor are paid from the
Servicer's funds and not charged to the
obligor, unless the late payment was due
1122(d)(4)(xii) to the obligor's error or omission.
Disbursements made on behalf of an X
obligor are posted within two business
days to the obligor's records maintained
by the Servicer, or such other number of
days specified in the transaction
1122(d)(4)(xiii) agreements.
Delinquencies, charge-offs, and X
uncollectible accounts are recognized and
recorded in accordance with the
1122(d)(4)(xiv) transaction agreements.
Any external enhancement or other X
support, identified in Item
1114(a)(1) through (3) or Item 1115 of
Regulation AB, is maintained as set
1122(d)(4)(xv) forth in the transaction agreements.
8
(page)
Appendix A
<FN>
^i This criterion is applicable but the Asserting Party does not keep unissued
checks.
^ii This criterion is not applicable as the Asserting Party does not routinely
accept or process payments directly.
</FN>
9
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Appendix B
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Transaction ID Transaction (Full Name) Certification Restrictions (if any)
BACM 2004-5 Banc of America Commercial Mortgage Inc. None
Commercial Mortgage Pass-Through
Certificates,
Series 2004-5
BACM 2006-1 Banc of America Commercial Mortgage Inc. Certification is restricted to
Commercial Mortgage Pass-Through that period which Torchlight
Certificates, served as Special Servicer,
Series 2006-1 from October 4, 2013 to
December 31, 2013.
Certification excludes the
Torre Mayor Whole Loan and
the KinderCare Portfolio
Whole Loan. Certification also
excludes the assets known as
Plazas of Broadview
(Prospectus ID 40), Asbury
Plaza (Prospectus ID 31), and
Best Buy - Erie, PA (Prospectus ID 75).
BSCMS 2006- Bear Stearns Commercial Mortgage Certification is restricted to
PWR14 Securities Inc that period which Torchlight
Commercial Mortgage Pass-Through served as Special Servicer,
Certificates, from January 1, 2013 to
Series 2006-PWR14 September 26, 2013
Certification excludes the
South Bay Galleria Loan Group
BSCMS 2007- Bear Stearns Commercial Mortgage Certification is restricted to
PW16 Securities Inc that period which Torchlight
Commercial Mortgage Pass-Through served as Special Servicer,
Series 2006-PWR16 from November 7, 2013 to
December 31, 2013.
Certification excludes the
Beacon Seattle & DC Portfolio
Pooled Mortgage Loan and
the assets known as PGA
Design Center (Prospectus ID
21), Kailua Self Storage
(Prospectus ID 55), and Kona
Self Storage (Prospectus ID
56).
CGCMT 2004-C2 Citigroup Commercial Mortgage Securities, None
Inc.
Commercial Mortgage Pass-Through
Certificates,
Series 2004-C2
10
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Appendix B
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Transaction ID Transaction (Full Name) Certification Restrictions (if any)
COMM 2012- COMM 2012-CCRE4 Commercial Mortgage Certification excludes the
CCRE4 Pass-Through Certificates Emerald Square Mall Loan
Combination.
CSMC 2007- Credit Suisse Commercial Mortgage Trust Certification excludes the 599
C2 Commercial Mortgage Pass-Through Certificates, Lexington Avenue Whole Loan.
Series 2007-C2
CSMC 2007- Credit Suisse Commercial Mortgage Trust Certification excludes the
C4 Commercial Mortgage Pass-Through Certificates, Group D Loans (also known as
Series 2007-C4 the Original NCB Mortgage
Loans).
GECMC 2007- GE Commercial Mortgage Corporation Certification excludes the 666
C1 Commercial Mortgage Pass-Through Certificates, Fifth Avenue Whole Loan, the
Series 2007-C1 Americold Portfolio Whole
Loan, the Clarion LaGuardia
Airport Hotel Whole Loan, the
Four Seasons Whole Loan, the
Mall of America Whole Loan,
and the Skyline Portfolio Whole
Loan.
GSMS 2006- GS Mortgage Securities Corporation II Certification excludes the
GG6 Commercial Mortgage Pass-Through Certificates, Shaner Hotel Portfolio Whole
Series 2006-GG6 Loan, and the JQH Hotel
Portfolio B3 Whole Loan.
GSMS 2011- GS Mortgage Securities Trust 2011-GC5 None
GC5 Commercial Mortgage Pass-Through Certificates,
Series 2011-GC5
JPMCC 2006- J.P. Morgan Chase Commercial Mortgage Certification is restricted to that
LDP6 Securities Trust 2006-LDP6 period which Torchlight served
Commercial Mortgage Pass-Through Certificates, as Special Servicer, from
Series 2006-LDP6 October 8, 2013 to December
31, 2013.
JPMCC 2011- J.P. Morgan Chase Commercial Mortgage None
C4 Securities Trust 2011-C4
Commercial Mortgage Pass-Through Certificates,
Series 2011-C4
JPMCC 2011- J.P. Morgan Chase Commercial Mortgage None
C5 Securities Trust 2011-C5
Commercial Mortgage Pass-Through Certificates,
Series 2011-C5
11
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Appendix B
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Transaction ID Transaction (Full Name) Certification Restrictions (if any)
LBFRC 2006- Lehman Brothers Floating Rate Commercial Certification is restricted to the
LLF C5 Mortgage Trust 2006-LLF C5 Walt Disney World Swan &
Commercial Mortgage Pass-Through Certificates Dolphin Mortgage Loans only,
Series 2006-LLF C5 and only for that period which
Torchlight served as Special
Servicer, from July 26, 2013 to
September 9, 2013, when the
Loan was paid off in full. The
Loan was never transferred to
Torchlight.
MLCFC 2006-3 ML-CFC Commercial Mortgage Trust 2006-3 None
Commercial Mortgage Pass-Through Certificates,
Series 2006-3
MSC 2007- MORGAN STANLEY CAPITAL I INC., Certification is restricted to that
HQ13 COMMERCIAL MORTGAGE PASS-THROUGH period which Torchlight served
CERTIFICATES, SERIES 2007-HQ13 as Special Servicer, from April
1, 2013 to December 31, 2013.
WFRBS 2012- WFRBS Commercial Mortgage Trust 2012-C7 NONE
C7 Commercial Mortgage Pass-Through Certificates,
Series 2012-C7
12
Dates Referenced Herein and Documents Incorporated by Reference
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