Item 1. Business.
Not applicable.
Item 1A.
Item 1A. Risk Factors.
Not applicable.
Item 1B.
Item 1B. Unresolved Staff Comments.
Not applicable.
Item 2.
Item 2. Properties.
Not applicable.
Item 3.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings involving the trust created under the pooling and servicing agreement (the "Trust"), the Trustee, the Master Servicer, the Special Servicer or the registrant with respect to the Trust other than routine litigation incidental to the duties of the respective parties.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
No established public trading market for the Certificates exists.
Records provided to the Trust by the DTC and the Trustee indicate that as of December 31, 2005, the total number of holders of record for the Series of Certificates is 33.
Item 6.
Item 6. Selected Financial Data.
Not applicable.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Not applicable.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Not applicable.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures. Not applicable.
Item 9B.
Item 9B. Other Information.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11. Executive Compensation.
Not applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Not applicable.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules.
(a) Exhibits
(31.1) Rule 13a-14(a)/15d-14(a) Certification
(99.1) Annual Independent Accountants' Servicing Reports concerning servicing activities.
(99.2) Report of Management as to Compliance with Minimum Servicing Standards.
(99.3) Annual Statements of Compliance under the Pooling and Servicing Agreements.
(99.4) Aggregate Statement of Principal and Interest Distributions to Certificate Holders.
(b) Not applicable.
(c) Omitted.
Filed herewith.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized:
Credit Suisse First Boston Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2005-C4 (Registrant)
Signed: Credit Suisse First Boston Mortgage Securities Corp., as Depositor
By: Anand Gajjar, Vice President
By: /s/ Anand Gajjar, Vice President
Dated: March 29, 2006
Exhibit Index
Exhibit No.
Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification
I, Anand Gajjar, certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution date reports filed in respect of periods included in the year covered by this annual report, of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2005-C4 Trust;
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the servicing information required to be provided to the Trustee by the master servicer and special servicer under the pooling and servicing agreement is included in these reports;
4. I am responsible for reviewing the activities performed by the master servicer and special servicer under the pooling and servicing agreement and based upon my knowledge and the annual compliance review required under the pooling and servicing agreement, and except as disclosed in the reports, the master servicer and special servicer have fulfilled their obligations under the pooling and servicing agreement; and
5. The reports disclose all significant deficiencies relating to the master servicer's or special servicer's compliance with the minimum servicing standards, based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar standard, as set forth in the pooling and servicing agreement, that is included in these reports.
In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: ARCap Servicing, Inc. as Special Servicer, KeyCorp Real Estate Capital Markets, Inc. as Master Servicer and Wells Fargo Bank, N.A. as Trustee.
Date: March 29, 2006
/s/ Anand Gajjar Signature
Vice President Title
EX-99.1 (a) (logo)ERNST & YOUNG
* Ernst & Young LLP Suite 1500 2100 Ross Avenue Dallas, Texas 75201
* Phone: (214) 969-8000 Fax: (214) 969-8587 Telex: 6710375 www.ey.com
Report on Management's Assertion on Compliance with Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers
Report of Independent Accountants
Board of Directors ARCap Servicing, Inc.
We have examined management's assertion, included in the accompanying report titled Report of Management, that ARCap Servicing, Inc. (the Company) complied with the minimum servicing standards as stated in Attachment A, which were derived from the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) except, for commercial loan and multifamily loan servicing, minimum servicing standards V.4. and VI.1., which the Mortgage Bankers Association of America has interpreted as inapplicable to such servicing during the year ended December 31, 2005. Management is responsible for the Company's compliance with those requirements. Our responsibility is to express an opinion on management's assertions about the Company's compliance based on our examination.
Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.
In our opinion, management's assertion, that the Company complied with the aforementioned requirements during the year ended December 31, 2005, is fairly stated, in all material respects.
/s/Ernst & Young LLP
February 16, 2006
A Member Practice of Ernst & Young Global
[PAGE]
Attachment A
Minimum Servicing Standards
I. Mortgage Principal, Interest and Amortization
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall: * be mathematically accurate; * be prepared within forty-five (45) calendar days after the cutoff date * be reviewed and approved by someone other than the person who prepared the reconciliation; and * document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipt.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
III. Disbursements
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
[PAGE]
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with canceled checks or other form of payment, or custodial bank statements.
6. Unissued checks shall be safeguarded so as to prevent unauthorized access.
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. Mortgage Loan Accounting
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on ARM loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws.
VI. Delinquencies
1. Records documenting collection efforts shall maintained during the period a loan is in default and shall be updated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (e.g., illness or unemployment).
(page)
VII. Insurance Policies
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion.
EX-99.1 (b) (logo) ERNST&YOUNG
* Ernst & Young LLP 1300 Huntington Building 925 Euclid Avenue Cleveland, Ohio 44115-1405
* Phone: (216) 861-5000 www.ey.com
Report on Management's Assertion on Compliance with the Specified Minimum Servicing Standards Set Forth in the
Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholder KeyCorp Real Estate Capital Markets, Inc.
We have examined management's assertion, included in the accompanying report titled Report of Management, that KeyCorp Real Estate Capital Markets, Inc. (the "Company") complied with the servicing standards identified in Exhibit A (the "specified minimum servicing standards") to the Report of Management during the year ended December 31, 2005. Management is responsible for the Company's compliance with these specified minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Bank's compliance with the specified minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the specified minimum servicing standards.
In our opinion, management's assertion that the Company complied with the aforementioned specified minimum servicing standards during the year ended December 31, 2005, is fairly stated, in all material respects.
/s/ Ernst & Young LLP
Kansas City, Missouri January 20, 2006
A Member Practice of Ernst & Young Global
(PAGE)
Exhibit A
Exhibit A
Specified Minimum Servicing Standards
Management of the Company identified the following minimum servicing standards which are based on the servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers, (USAP) and, in management's opinion, are applicable to servicing commercial mortgage loans and satisfy the requirements of the underlying servicing agreements.
I. Custodial Bank Accounts
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall: * be mathematically accurate; * be prepared within forty-five (45) after the cutoff date; * be reviewed and approved by someone other than the person who prepared the reconciliation; and * document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipts.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
(PAGE)
Exhibit A
III. Disbursements
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with canceled checks or other form of payment, or custodial bank statements.
6. Unissued checks shall be safeguarded so as to prevent unauthorized access.
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. Mortgage Loan Accounting
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on ARM loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
(PAGE)
Exhibit A
VI. Insurance Policies
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion
(PAGE)
Exhibit A
Specified Minimum Servicing Standards (continued) Securitization Trusts
(for informational purposes only) Commercial mortgage loans owned by the following trusts serviced by the Company during the year ended December 31, 2005:
Sale &Svcg Pool Name Agree Dt Indenture Trustee Owner Trustee MCF 1998-MC1 05/29/1998 LaSalle Bank LaSalle Bank MCF 1998-MC3 12/31/1998 LaSalle Bank LaSalle Bank JPMCC 2005-LDP4 09/27/2005 Wells Fargo Bank Wells Fargo Bank MLMT 2005 CK11 12/07/2005 LaSalle Bank LaSalle Bank CSFBMSC 2005-C6 12/28/2005 Wells Fargo Bank Wells Fargo Bank PSSFC 1998 C-1 08/21/1998 Chase Manhattan Bank Chase Manhattan Bank CSFB 2002-CP3 07/01/2002 LaSalle Bank LaSalle Bank PSSFC 1999 NRF-1 03/25/1999 Chase Manhattan Bank Chase Manhattan Bank CSFB 2002 CP5 12/01/2002 Wells Fargo Bank Wells Fargo Bank CBA MEZZ 2004 Cl 02/23/2004 Wells Fargo Bank Wells Fargo Bank PSSFC 1999 C-2 07/28/1999 Chase Manhattan Bank Chase Manhattan Bank CSFBMSC 2004-CBN1 10/21/2004 Wells Fargo Bank Wells Fargo Bank BACM 2005-3 07/13/2005 LaSalle Bank LaSalle Bank KEY 2000-Cl 06/29/2000 Chase Manhattan Bank Chase Manhattan Bank BACM 2005-5 10/13/2005 LaSalle Bank LaSalle Bank BALL 2005-MIB1 11/29/2005 Wells Fargo Bank Wells Fargo Bank CSFB 2005 OMA 12/22/2005 Wells Fargo Bank Wells Fargo Bank DLJ 2000-CKP1 11/07/2000 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CK1 03/16/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CK3 06/05/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CKN5 11/12/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CK6 12/11/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2002-CKP1 03/26/2002 Wells Fargo Bank Wells Fargo Bank CSFB 2002-CKN2 05/13/2002 Wells Fargo Bank Wells Fargo Bank SBMS 2002-Key2 09/26/2002 Wells Fargo Bank Wells Fargo Bank CSFB 2002-CKS4 10/29/2002 Wells Fargo Bank Wells Fargo Bank CSFB 2003-CK2 04/11/2003 Wells Fargo Bank Wells Fargo Bank CSFB 2003-C3 06/30/2003 Wells Fargo Bank Wells Fargo Bank CSFBCM 2003-C4 09/29/2003 Wells Fargo Bank Wells Fargo Bank MLMT 2003-KEY1 11/20/2003 LaSalle Bank LaSalle Bank CSFBCM 2003-05 12/05/2003 Wells Fargo Bank Wells Fargo Bank CSFBCM 2004-Cl 03/11/2004 Wells Fargo Bank Wells Fargo Bank MLMT 2004 MKB1 05/08/2004 Wells Fargo Bank Wells Fargo Bank CSFBCM 2004-C2 06/14/2004 Wells Fargo Bank Wells Fargo Bank MLMT 2004-KEY2 09/29/2004 LaSalle Bank LaSalle Bank CSFBMSC 2004-C3 08/25/2004 Wells Fargo Bank Wells Fargo Bank CSFBMSC 2004-C4 11/10/2004 Wells Fargo Bank Wells Fargo Bank CSFBMSC 2004-C5 12/20/2004 Wells Fargo Bank Wells Fargo Bank MLMT 2005 MKB2 03/29/2005 LaSalle Bank LaSalle Bank CSFBMSC 2005-C2 05/27/2005 Wells Fargo Bank Wells Fargo Bank CSFBMSC 2005-C4 08/25/2005 Wells Fargo Bank Wells Fargo Bank Bear Stearns 2000-WF1 02/01/2000 LaSalle Bank LaSalle Bank BOA 2001-1 06/01/2001 Wells Fargo Bank Wells Fargo Bank Salomon 2001-Cl 07/01/2001 Wells Fargo Bank Wells Fargo Bank GMAC CMC 98-M1 02/01/1998 FNMA FNMA GMAC CMC 98-Cl 05/01/1998 LaSalle Bank LaSalle Bank GMAC CMC 98-C2 08/24/1998 LaSalle Bank LaSalle Bank BOA 2001-PB1 10/01/2001 LaSalle Bank LaSalle Bank BOA 2002-PB2 05/01/2002 Wells Fargo Bank Wells Fargo Bank BOA 2002-2 09/09/2002 LaSalle Bank LaSalle Bank JP Morgan 2002-CIBC5 11/04/2002 Wells Fargo Bank Wells Fargo Bank GECCMC 2002-3 12/01/2002 Wells Fargo Bank Wells Fargo Bank JP Morgan 2002-C3 12/23/2002 Wells Fargo Bank Wells Fargo Bank Wells 2003-TOP9 02/21/2003 LaSalle Bank LaSalle Bank CSFB 2003-CPN1 03/12/2003 Wells Fargo Bank Wells Fargo Bank GECCMC 2003-Cl 04/01/2003 Wells Fargo Bank Wells Fargo Bank BOA 2003-1 04/01/2003 LaSalle Bank LaSalle Bank Wells 2003-PWRI 02/21/2003 LaSalle Bank LaSalle Bank GE 2003-C2 08/01/2003 LaSalle Bank LaSalle Bank BACM 2003-2 11/01/2003 Wells Fargo Bank Wells Fargo Bank MSC 1995 GAL1 07/01/1995 LaSalle Bank LaSalle Bank MSC 1999-CAM1 07/01/1999 Chase Manhattan Bank Chase Manhattan Bank MSC 1998-HF1 03/01/1998 LaSalle Bank LaSalle Bank MSC 1998-WF2 06/01/1998 Wells Fargo Bank Wells Fargo Bank CMAC 1998 Cl 07/01/1998 LaSalle Bank LaSalle Bank MSC 1998-WF1 02/01/1999 LaSalle Bank LaSalle Bank MSC 1999-RM1 03/01/1999 LaSalle Bank LaSalle Bank SMA 1998-Cl 03/03/1998 State Street Bank State Street Bank CAMO2-02 04/03/2002 Chase Manhattan Bank Chase Manhattan Bank
EX-99.2 (a) Management's Assertion on Compliance with Minimum Servicing Standards Set Forth in the Uniform Single Attestation Program for Mortgage Bankers
Report of Management
We, as members of management of ARCap Servicing, Inc. (the Company), are responsible for complying with the servicing standards identified in Attachment A ("the minimum servicing standards") as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) except, for commercial loan and multifamily loan servicing, minimum servicing standards V.4. and VI.1, which the Mortgage Bankers Association of America has interpreted as inapplicable to such servicing. We are also responsible for establishing and maintaining effective internal control over compliance with these standards. We have performed an evaluation of the Company's compliance with the minimum servicing standards as set forth in the USAP as of December 31, 2005 and for the year then ended. Based on this evaluation, we assert that during the year ended December 31, 2005, the Company complied, in all material respects, with the minimum servicing standards set forth in the USAP.
As of and for this same period, the Company had in effect a fidelity bond (crime) policy in the amount of $10,000,000 aggregate, $5,000,000 per loss and an errors and omissions policy in the amount of $10,000,000.
/s/ Christopher Crouch Christopher Crouch, Servicing Officer of ARCap Servicing, Inc.
February 16, 2006
[PAGE]
Attachment A
Minimum Servicing Standards
I. Mortgage Principal, Interest and Amortization
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall: * be mathematically accurate; * be prepared within forty-five (45) calendar days after the cutoff date * be reviewed and approved by someone other than the person who prepared the reconciliation; and * document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipt.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
III. Disbursements
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
[PAGE]
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with canceled checks or other form of payment, or custodial bank statements.
6. Unissued checks shall be safeguarded so as to prevent unauthorized access.
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. Mortgage Loan Accounting
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on ARM loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws.
VI. Delinquencies
1. Records documenting collection efforts shall maintained during the period a loan is in default and shall be updated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (e.g., illness or unemployment).
[PAGE]
VII. Insurance Policies
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion.
EX-99.2 (b) (logo) KeyBank Real Estate Capital
Management's Assertion on Compliance with the Specified Minimum Servicing Standards
Report of Management
We, as members of management of KeyCorp Real Estate Capital Markets, Inc (the Company), are responsible for complying with the servicing standards identified in the attached Exhibit A (the "specified minimum servicing standards"). We are also responsible for establishing and maintaining effective internal control over compliance with these specified minimum servicing standards. We have performed an evaluation of the Company's compliance with the specified minimum servicing standards as of December 31, 2005 and for the year then ended. Based on this evaluation, we assert that during the year ended December 31, 2005, the Company complied, in all material respects, with the specified minimum servicing standards.
As of December 31, 2005 and for the year then ended, the Company had in effect a fidelity bond in the amount of $100,000,000 and an errors and omissions policy in the amount of $100,000,000.
/s/ Marty O'Conner Marty O'Conner Senior Vice President Loan Servicing & Asset Management
/s/ Tony Nemec Tony Nemec Vice President, Investory Reporting and Surveillance
/s/ Bryan Nitcher Bryan Nitcher Vice President, Portfolio Management
Kansas City, Missouri January 20, 2006
(Page)
Exhibit A
Exhibit A
Specified Minimum Servicing Standards
Management of the Company identified the following minimum servicing standards which are based on the servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers, (USAP) and, in management's opinion, are applicable to servicing commercial mortgage loans and satisfy the requirements of the underlying servicing agreements.
I. Custodial Bank Accounts
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall: * be mathematically accurate; * be prepared within forty-five (45) after the cutoff date; * be reviewed and approved by someone other than the person who prepared the reconciliation; and * document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification.
2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipts.
2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two business days of receipt.
3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents.
(PAGE)
Exhibit A
III. Disbursements
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
2. Disbursements made on behalf of a mortgagor or investor shall be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity.
3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission.
5. Amounts remitted to investors per the servicer's investor reports shall agree with canceled checks or other form of payment, or custodial bank statements.
6. Unissued checks shall be safeguarded so as to prevent unauthorized access.
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. Mortgage Loan Accounting
1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis.
2. Adjustments on ARM loans shall be computed based on the related mortgage note and any ARM rider.
3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis.
(PAGE)
Exhibit A
VI. Insurance Policies
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion
(PAGE)
Exhibit A
Specified Minimum Servicing Standards (continued) Securitization Trusts
(for informational purposes only) Commercial mortgage loans owned by the following trusts serviced by the Company during the year ended December 31, 2005:
Sale &Svcg Pool Name Agree Dt Indenture Trustee Owner Trustee MCF 1998-MC1 05/29/1998 LaSalle Bank LaSalle Bank MCF 1998-MC3 12/31/1998 LaSalle Bank LaSalle Bank JPMCC 2005-LDP4 09/27/2005 Wells Fargo Bank Wells Fargo Bank MLMT 2005 CK11 12/07/2005 LaSalle Bank LaSalle Bank CSFBMSC 2005-C6 12/28/2005 Wells Fargo Bank Wells Fargo Bank PSSFC 1998 C-1 08/21/1998 Chase Manhattan Bank Chase Manhattan Bank CSFB 2002-CP3 07/01/2002 LaSalle Bank LaSalle Bank PSSFC 1999 NRF-1 03/25/1999 Chase Manhattan Bank Chase Manhattan Bank CSFB 2002 CP5 12/01/2002 Wells Fargo Bank Wells Fargo Bank CBA MEZZ 2004 Cl 02/23/2004 Wells Fargo Bank Wells Fargo Bank PSSFC 1999 C-2 07/28/1999 Chase Manhattan Bank Chase Manhattan Bank CSFBMSC 2004-CBN1 10/21/2004 Wells Fargo Bank Wells Fargo Bank BACM 2005-3 07/13/2005 LaSalle Bank LaSalle Bank KEY 2000-Cl 06/29/2000 Chase Manhattan Bank Chase Manhattan Bank BACM 2005-5 10/13/2005 LaSalle Bank LaSalle Bank BALL 2005-MIB1 11/29/2005 Wells Fargo Bank Wells Fargo Bank CSFB 2005 OMA 12/22/2005 Wells Fargo Bank Wells Fargo Bank DLJ 2000-CKP1 11/07/2000 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CK1 03/16/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CK3 06/05/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CKN5 11/12/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2001-CK6 12/11/2001 Wells Fargo Bank Wells Fargo Bank CSFB 2002-CKP1 03/26/2002 Wells Fargo Bank Wells Fargo Bank CSFB 2002-CKN2 05/13/2002 Wells Fargo Bank Wells Fargo Bank SBMS 2002-Key2 09/26/2002 Wells Fargo Bank Wells Fargo Bank CSFB 2002-CKS4 10/29/2002 Wells Fargo Bank Wells Fargo Bank CSFB 2003-CK2 04/11/2003 Wells Fargo Bank Wells Fargo Bank CSFB 2003-C3 06/30/2003 Wells Fargo Bank Wells Fargo Bank CSFBCM 2003-C4 09/29/2003 Wells Fargo Bank Wells Fargo Bank MLMT 2003-KEY1 11/20/2003 LaSalle Bank LaSalle Bank CSFBCM 2003-05 12/05/2003 Wells Fargo Bank Wells Fargo Bank CSFBCM 2004-Cl 03/11/2004 Wells Fargo Bank Wells Fargo Bank MLMT 2004 MKB1 05/08/2004 Wells Fargo Bank Wells Fargo Bank CSFBCM 2004-C2 06/14/2004 Wells Fargo Bank Wells Fargo Bank MLMT 2004-KEY2 09/29/2004 LaSalle Bank LaSalle Bank CSFBMSC 2004-C3 08/25/2004 Wells Fargo Bank Wells Fargo Bank CSFBMSC 2004-C4 11/10/2004 Wells Fargo Bank Wells Fargo Bank CSFBMSC 2004-C5 12/20/2004 Wells Fargo Bank Wells Fargo Bank MLMT 2005 MKB2 03/29/2005 LaSalle Bank LaSalle Bank CSFBMSC 2005-C2 05/27/2005 Wells Fargo Bank Wells Fargo Bank CSFBMSC 2005-C4 08/25/2005 Wells Fargo Bank Wells Fargo Bank Bear Stearns 2000-WF1 02/01/2000 LaSalle Bank LaSalle Bank BOA 2001-1 06/01/2001 Wells Fargo Bank Wells Fargo Bank Salomon 2001-Cl 07/01/2001 Wells Fargo Bank Wells Fargo Bank GMAC CMC 98-M1 02/01/1998 FNMA FNMA GMAC CMC 98-Cl 05/01/1998 LaSalle Bank LaSalle Bank GMAC CMC 98-C2 08/24/1998 LaSalle Bank LaSalle Bank BOA 2001-PB1 10/01/2001 LaSalle Bank LaSalle Bank BOA 2002-PB2 05/01/2002 Wells Fargo Bank Wells Fargo Bank BOA 2002-2 09/09/2002 LaSalle Bank LaSalle Bank JP Morgan 2002-CIBC5 11/04/2002 Wells Fargo Bank Wells Fargo Bank GECCMC 2002-3 12/01/2002 Wells Fargo Bank Wells Fargo Bank JP Morgan 2002-C3 12/23/2002 Wells Fargo Bank Wells Fargo Bank Wells 2003-TOP9 02/21/2003 LaSalle Bank LaSalle Bank CSFB 2003-CPN1 03/12/2003 Wells Fargo Bank Wells Fargo Bank GECCMC 2003-Cl 04/01/2003 Wells Fargo Bank Wells Fargo Bank BOA 2003-1 04/01/2003 LaSalle Bank LaSalle Bank Wells 2003-PWRI 02/21/2003 LaSalle Bank LaSalle Bank GE 2003-C2 08/01/2003 LaSalle Bank LaSalle Bank BACM 2003-2 11/01/2003 Wells Fargo Bank Wells Fargo Bank MSC 1995 GAL1 07/01/1995 LaSalle Bank LaSalle Bank MSC 1999-CAM1 07/01/1999 Chase Manhattan Bank Chase Manhattan Bank MSC 1998-HF1 03/01/1998 LaSalle Bank LaSalle Bank MSC 1998-WF2 06/01/1998 Wells Fargo Bank Wells Fargo Bank CMAC 1998 Cl 07/01/1998 LaSalle Bank LaSalle Bank MSC 1998-WF1 02/01/1999 LaSalle Bank LaSalle Bank MSC 1999-RM1 03/01/1999 LaSalle Bank LaSalle Bank SMA 1998-Cl 03/03/1998 State Street Bank State Street Bank CAMO2-02 04/03/2002 Chase Manhattan Bank Chase Manhattan Bank
EX-99.3 (a) OFFICER'S CERTIFICATE ARCap SERVICING, INC.
The undersigned, James L. Duggins, the President of ARCap Servicing, Inc., the Special Servicer under that certain Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of August 1, 2005, relating to the Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2005-C4, hereby certifies as follows:
1. A review of the activities of the Special Servicer during the calendar year 2005 and of its performance under the Pooling and Servicing Agreement has been made under the undersigned's supervision;
2. To the best of the undersigned's knowledge, based on such review, the Special Servicer has fulfilled all its obligations under the Pooling and Servicing Agreement in all material respects throughout the calendar year 2005; and
3. Special Servicer has received no notice regarding the qualification, or challenging the status, of either REMIC Pool as a REMIC or Grantor Trust V as a Grantor Trust from the IRS or any other governmental agency or body.
Capitalized terms not otherwise defined herein shall have the meanings given them in the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, as of the 23rd day of March, 2006, I have hereunto signed my name.
ARCap SERVICING, INC., a Delaware corporation
BY: /s/ James L. Duggins James L. Duggins, President
EX-99.3 (b) (logo) KeyBank Real Estate Capital
911 Main Street, Suite 1500 Kansas City, MO 64105 Tel: 816-221-8800 Fax: 816-221-8051 Toll Free: 888-979-1200
March 7, 2006
KeyCorp Real Estate Capital Markets, Inc. As Master Servicer Annual Officer's Certification For Period of: August 1 through December 31, 2005
Re: CSFB 2005-C4 Pooling and Servicing Agreement
With regard to the loans Master Serviced by KeyCorp Real Estate Capital Markets, Inc. d/b/a/ KeyBank Real Estate Capital (KBREC) in the above captioned transaction, and pursuant to Section 3.13 of the Pooling and Servicing Agreement, please be advised of the following:
* A review of the activities of KBREC during the above stated period and of its performance, under the Agreement, has been made under my supervision.
* To the best of my knowledge, based on such review, KBREC has fulfilled all of its obligations under the Agreement in all material respects.
* KBREC has received no notice regarding qualification or challenge to the status of either REMIC Pool as a REMIC or Grantor Trust V as a Grantor Trust from the Internal Revenue Service or any governing agency or body.
By: /s/ Bryan S. Nitcher
Bryan S. Nitcher Senior Vice President
Date: /s/ 3-8-06
#750
Ex-99.4
Schedule of Year-To-Date Principal and Interest Distributions to Certificateholders