| 1E - DSCR < 1.10, 1F - DSCR < 1.40 and <= 75% U/W DSCR,and 4A - Occ < 80% U/W Occ. The loan is secured by a 99,819 sf office property in Hoffman Estates, IL built in 1992. The property was inspected on 09/22/08; rated in Good condition. Q1-2009 NCF DSCR is .45 with an occ of 45%; YE 2008 NCF DSCR was .48 with an occupancy of 55%. The decline in NCF is due to an EGI & occupancy decline . Ann. 2009 EGI has dropped 9% from YE 2008. The decline in NCF and & occupancy was due to National Bedding(occupied 28,550 sf or 28.60% NRA) vacating when their lease expired. As of the March 2008 rent roll, there is 46,256 vacant sf at the property. Asking rates are $20-$31 PSF/market rates are $26-$31 PSF as per Borrower. Borrower has engaged a broker who uses the following adv/mkt efforts for the vacant spaces: email blasts to the brokerage community regarding space availability, CoStar, and cold calls to potential prospects. Concessions include one month free rent, and negotiation of TI\''s range from $10-$20/rsf for new tenants. Per Bwr, there has been a number of tours for the former National Bedding space but no firm prospects. Borrower also noted that for the remaining vacant spaces, there are no prospects. Bank of America has contacted the Borrower for further updates; waiting for a response.
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