Delaware | 333-193376-17 | 04-3310019 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
60 Wall Street | New York, New York | 10005 |
(Address of Principal Executive Offices) | (Zip Code) |
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
will not be entitled to a minimum monthly special servicing fee in respect of specially serviced mortgage loans.
As disclosed in the Prospectus Supplement, the terms and conditions of the WFCM 2015-NXS1 Pooling and Servicing Agreement applicable to the servicing of the Patriots Park Mortgage Loan are substantially similar to the terms and conditions of the Pooling and Servicing Agreement, as described under “The Pooling and Servicing Agreement” in the Prospectus Supplement, applicable to the servicing of the other Mortgage Loans; however, the special servicing arrangements under the WFCM 2015-NXS1 Pooling and Servicing Agreement differ in certain respects. For example, (1) the special servicing fee rate payable with respect to the Patriots Park Mortgage Loan to Rialto Capital Advisors, LLC under the WFCM 2015-NXS1 Pooling and Servicing Agreement will be 0.25% per annum and Rialto Capital Advisors, LLC will be entitled to a minimum monthly special servicing fee of $3,500, (2) the work out fees payable with respect to the Patriots Park Mortgage Loan will be 1.0% per annum, however the workout fee (and the aggregate amount payable to the Rialto Capital Advisors, LLC with respect to workout fees, modification fees and liquidation fees) under the WFCM 2015-NXS1 Pooling and Servicing Agreement will be subject to a maximum cap amount equal to the greater of (i) 1% of the stated principal balance and (ii) $1,000,000, and (3) the liquidation fee rate payable with respect to the Patriots Park Mortgage Loan is 1.0% per annum, however if such rate would result in an aggregate liquidation fee less than $25,000 then the liquidation fee rate will be equal to the lesser of (i) 3.0% of the liquidation proceeds or (ii) such lower rate as would result in an aggregate liquidation fee equal to $25,000.
99.1 | Pooling and Servicing Agreement, dated as of May 1, 2015, between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, CWCapital Asset Management LLC, as special servicer, Wilmington Trust, National Association, as trustee, Wells Fargo Bank, National Association, as certificate administrator, paying agent and custodian, and Pentalpha Surveillance LLC, as operating advisor. |
99.2 | Pooling and Servicing Agreement, dated as of April 1, 2015, between Wells Fargo Commercial Mortgage Securities, Inc., as depositor, Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Trimont Real Estate Advisors, Inc., as trust advisor, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator, tax administrator, certificate registrar and custodian. |
SIGNATURES |
Deutsche Mortgage & Asset Receiving Corporation | |||
By: | /s/ Helaine Kaplan | ||
Name: Helaine Kaplan | |||
Title: President |
By: | /s/ Natalie Grainger | ||
Name: Natalie Grainger | |||
Title: Vice President | |||
Exhibit Number | Description | |
99.1 | Pooling and Servicing Agreement, dated as of May 1, 2015, between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, CWCapital Asset Management LLC, as special servicer, Wilmington Trust, National Association, as trustee, Wells Fargo Bank, National Association, as certificate administrator, paying agent and custodian, and Pentalpha Surveillance LLC, as operating advisor. | |
99.2 | Pooling and Servicing Agreement, dated as of April 1, 2015, between Wells Fargo Commercial Mortgage Securities, Inc., as depositor, Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Trimont Real Estate Advisors, Inc., as trust advisor, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator, tax administrator, certificate registrar and custodian. |