| 1E - DSCR < 1.20, 4B - EGI drop and 1F - DSCR < 1.40 and <= 75% U/W DSCR. The loan is secured by a 79 room limited service hotel in Gloucester, VA built in 1999 and renovated in 2005. TTM 03/31/2009 NCF DSCR is .47 with a YTD March 2009 occ of 53.01%, ADR of $82.64, & RevPar of $43.81; YE 2008 NCF DSCR was .65 with an occupancy of 57%. Dec 2008 ADR is $83.76 and RevPar is $48.01. The decline in NCF is a result of a Gross Profit decline. TTM 03/09 Gross profit has declined 11% from YE 20008 & YE 2008 Gross Profit had declined 26% from YE 2007 due to lower room revenues and occupancy. Bwr reported to primary servicer that occupancy and Gross Profit have decreased due to the owner constructing a competing property directly across the street from the subject property combined with a decrease in travel due to the current state of the U.S. economy. Per the April 2009 STAR report, subject property occ, ADR, and RevPar are 52.3%, $81.30, and $42.51, respectively. CompSet is 52.6%, 75.51, and 39.69 respectively. Bank of America has contacted the primary servicer for further property performance updates; waiting for a response.
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