| 1E - DSCR < 1.10 and 1F - DSCR < 1.40 and <= 75% U/W DSCR and 4B - EGI < 80% U/W EGI. The loan is secured by a 703 unit Self-Storage facility in Rancho Cordova, CA. The property was inspected on 08/21/08; rated in Good condition. The YE 2008 NCF DSCR is .97 with an occupancy of 56%. The decline in NCF is a result of an EGI decline. Since loan inception, base rents at the property have not been at the levels anticipated at U/W. This factor combined with declining occupancy and the loan becoming fully amortizing during Q4-2007 has caused the continued decline in NCF. For 2008, EGI has declined 4% from YE 2007. Dec 2008 occupancy has dropped 3% from Dec 2007. Current asking rates are $1.00 PSF, and are comparable to market as per Borrower. Current concessions include for leased months paid, tenant receives comparable number of months free. Property is marketed and advertised in newspapers, visits to local businesses, yellow pages, internet. Per Borrower, property occupancy is slightly lower than competing properties but has better curb appeal. Occupancy as of April 2009 is 68.1%. Bank of America will continue to monitor the loan.
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