<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report: May 13, 1999
(Date of earliest event reported)
NationsLink Funding Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-66805 56-1950039
- --------------------------------------------------------------------------------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (704) 386-2400
<PAGE> 2
Item 5. Other Events.
Attached are certain structural and collateral term sheets
(the "Term Sheets") furnished to the Registrant by NationsBanc Montgomery
Securities LLC (the "Underwriter"), the underwriter in respect of the
Registrant's proposed offering of Commercial Mortgage Pass-Through Certificates,
Series 1999-SL (the "Certificates"). The Certificates will be offered pursuant
to a Prospectus and related Prospectus Supplement (together, the "Prospectus"),
which will be filed with the Commission pursuant to Rule 424 under the
Securities Act of 1933, as amended (the "Act"). The Certificates will be
registered pursuant to the Act under the Registrant's Registration Statement on
Form S-3 (No. 333-66805) (the "Registration Statement"). The Registrant hereby
incorporates the Term Sheets by reference in the Registration Statement.
The Term Sheets were prepared solely by the Underwriter, and
the Registrant did not prepare or participate in the preparation of the
Collateral Term Sheets and Structural Term Sheets.
Any statement or information contained in the Term Sheets
shall be modified and superseded for purposes of the Prospectus and the
Registration Statement by statements or information contained in the Prospectus.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits
Exhibit 99 Term Sheets.
2
<PAGE> 3
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on behalf of the
Registrant by the undersigned thereunto duly authorized.
NATIONSLINK FUNDING CORPORATION
By: /s/ James E. Naumann
------------------------------
Name: James E. Naumann
Title: Senior Vice President
Date: May 13, 1999
3
<PAGE> 4
Exhibit Index
Item 601(a) of
Regulation S-K Exhibit
No. Description Page
- ---------------------- ----------- ----
99 Term Sheets
4
<PAGE> 1
NATIONSBANC MONTGOMERY SECURITIES
NationsBanc Montgomery Securities LLC
BANK OF AMERICA. [LOGO]
- --------------------------------------------------------------------------------
CMBS NEW ISSUE TERM SHEET
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
May 1999
- --------------------------------------------------------------------------------
NATIONSBANC MONTGOMERY SECURITIES LLC
- --------------------------------------------------------------------------------
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
<PAGE> 2
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
STRUCTURE OVERVIEW
<TABLE>
<CAPTION>
APPROXIMATE PRINCIPAL
EXPECTED PERCENTAGE OF INITIAL TARGET AVERAGE MODIFIED WINDOW TO
RATINGS APPROXIMATE INITIAL POOL CREDIT CREDIT LIFE(5) DURATION(5)(6) MATURITY(5)
CLASS (FITCH/MOODY'S) SIZE(1) BALANCE SUPPORT SUPPORT(2) DESCRIPTION (YEARS) (YEARS) (MONTHS)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 AAA/Aaa $263,622,015 22.281% 18.00% 21.00% Fixed Rate 0.80 0.75 1 - 21
A-2 AAA/Aaa 77,490,356 6.549 18.00 21.00 Fixed Rate 2.00 1.82 21 - 31
A-3 AAA/Aaa 41,881,501 3.540 18.00 21.00 Fixed Rate 3.00 2.64 31 - 42
A-4 AAA/Aaa 101,735,385 8.599 18.00 21.00 Fixed Rate 5.00 4.09 42 - 81
A-5 AAA/Aaa 70,155,681 5.929 18.00 21.00 Fixed Rate 7.31 5.53 81 - 96
A-6 AAA/Aaa 85,317,173 7.211 18.00 21.00 Fixed Rate (NAS) 5.48 4.43 26 - 95
A-1V AAA/Aaa 329,992,835 27.891 18.00 21.00 Variable Rate(1) 3.13 2.70 1 - 100
B AA/Aa2 47,326,583 4.000 14.00 17.00 Fixed Rate(1) 5.41 4.21 26 - 104
C A/A2 41,410,760 3.500 10.50 13.50 Fixed Rate(1) 5.54 4.24 26 - 108
D BBB/Baa2 38,452,849 3.250 7.25 10.25 Fixed Rate(1) 5.65 4.15 26 - 111
NON-OFFERED CERTIFICATES
E BBB-/NR 20,705,380 1.750 5.50 8.50 Fixed Rate(l) 5.72 4.29 26 - 112
F BB/NR 47,326,583 4.000 1.50 4.50 Fixed Rate(1) 5.88 4.11 26 - 125
G BB-/NR 17,747,469 1.500 0.00 3.00 Fixed Rate(1) 6.29 4.09 26 - 134
X NR Notional 0.000 0.00 0.00 Residual
<CAPTION>
PRINCIPAL ASSUMED
WINDOW TO FINAL RATED FINAL
CALL(3) SCHEDULED DISTRIBUTION
CLASS (MONTHS) PAYMENT DATE(5) DATE
- ---------------------------------------------------------
<S> <C> <C> <C>
A-1 1 - 21 02/10/2001 11/10/2030
A-2 21 - 31 12/10/2001 11/10/2030
A-3 31 - 42 11/10/2002 11/10/2030
A-4 42 - 81 02/10/2006 11/10/2030
A-5 81 - 96 05/10/2007 11/10/2030
A-6 26 - 95 04/10/2007 11/10/2030
A-1V 1 - 100 09/10/2007 11/10/2030
B 26 - 104 01/10/2008 11/10/2030
C 26 - 108 05/10/2008 11/10/2030
D 26 - 108 08/10/2008 11/10/2030
NON-OFFERED CERTIFICATES
E 26 - 108 09/10/2008 11/10/2030
F 26 - 108 10/10/2009 11/10/2030
G 26 - 108 07/10/2010 11/10/2030
X
</TABLE>
(1) Subject to a variance of plus or minus 5%.
(2) Includes 3.00% OC Target. There will be no initial OC, building to 3.00%
of the Aggregate Cut-off Date Balance. After the Step-Down Period (month
25) the size of the OC amount will be based upon the fulfillment of class
Target Credit Support Percentages which are equal to the Step-Down Factor
(1.5) times the Initial Credit Support times the unpaid principal balance
of the Mortgage Loans, subject to an OC Floor of 1.00% of the Aggregate
Cut-off Date Balance.
(3) Principal window is computed based on 5% clean-up call.
(4) Subject to an Available Funds Cap.
(5) Based upon pricing assumptions including 12% CPR on the Fixed Rate Mortgage
Loan Group, 16% CPR on the Adjustable Rate Mortgage Loan Group, and no
call.
(6) Based upon a par price for all Offered Certificates.
Fixed Rate Certificates:
1. Classes A-1 through A-6, B, C, D, E, F, and G (the Fixed Rate Classes)
pay principal in relation to the Fixed Rate Mortgage Loan Group.
2. The Fixed Rate Classes are payable monthly starting 6/10/99 with fixed
pass-through rates calculated on a (30/360) basis accruing from
5/l/99.
3. Fixed Rate Mortgage Loan Group pricing speed is 12% CPR.
4. Optional Call when loan balance down to 5% of the Aggregate Cut-off
Date Balance.
5. The Fixed Rate Classes are priced to maturity.
Classes B, C, D, E, F, G are subject to Available Funds Caps, as described
herein.
Variable Rate Certificate:
1. The Class A-1V pays principal in relation to the Adjustable Rate
Mortgage Loan Group.
2. The Class A-1V is payable (actual/360) monthly starting 6/10/99
accruing from the Settlement Date. The Class A-1V resets monthly to
One-Month LIBOR plus [ ]%.
3. Adjustable Rate Mortgage Loan Group pricing speed is 16% CPR.
4. Optional Call when loan balance down to 5% of the Aggregate Cut-off
Date Balance. Class A-1V margin doubles if call not exercised.
5. The Class A-1V is priced to call.
The Class A-1V is subject to an Available Funds Cap, as described herein.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
2
<PAGE> 3
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
<TABLE>
<S> <C> <C>
STRUCTURE DIAGRAM Step Down Period: 25 OC Floor: 1.00% (of Aggregate Cut-off Date Balance)
Step Down Factor: 1.50 OC Target: 3.00% (of Aggregate Cut-off Date Balance)
</TABLE>
Payment Rules
Through the Step Down Period
<TABLE>
<CAPTION>
Initial
Sizing Group 1: Fixed Group 2: ARM
<S> <C> <C> <C>
A-1(AAA)
A-2(AAA)
Rules 82.00% A-3(AAA) A-IV(AAA)
1, 2 (AFC)
& 3
A-4(AAA)
A-5(AAA)
A-6(AAA)(NAS)
Interest
<CAPTION>
<S> <C> <C>
4.00% B(AA)(AFC)
3.50% C(A)(AFC)
LOCKED 3.25% D(BBB)(AFC)
OUT 1.75% E(BBB-)(AFC)
4.00% F(BB)(AFC)
1.50% G(BB-)(AFC)
Interest
<CAPTION>
<S> <C> <C>
Rule 2 0.00% X(Notional)
Excess Cash Flow to AAA until OC Target is reached
</TABLE>
- RULE 1: AAA receives all principal payments, all bonds (except Class X)
receive
interest based on their interest payment priorities
- RULE 2: Excess Cash Flow is used to pay AAA principal until the OC Target
(3.00%) is reached. Then Excess Cash Flow is released to Class X
- RULE 3: Class A-6 receives no principal payments until after the Step Down
Period
Payment Rules
After the Step Down Period
<TABLE>
<CAPTION>
Group 1: Fixed Group 2: ARM Initial Target Expected
Support Support Support
<S> <C> <C> <C> <C>
The amount that will make AAA
credit support equal the Step Down
Factor (1.5)* Senior Target
Support (21.00%)* current
Rule 4 collateral balance (subject to OC 18.00% 21.00% 31.50%
Floor above)
Senior Target Support =
maximum(OC Floor or 1.5* 21.0%
* current balance)
Interest
AA Target Support = maximum(OC 14.00% 17.00% 25.50%
Floor or 1.5* 17.00% * current balance)
A Target Support = maximum (OC Floor 10.50% 13.50% 20.25%
or 1.5* 13.50% * current balance)
BBB Target Support = maximum(OC 7.25% 10.25% 15.38%
Floor or 1.5* 10.25% * current balance)
Rule 4 BBB Target Support = maximum(OC 5.50% 8.50% 12.75%
Floor or 1.5* 8.50% * current balance)
BB Target Support = maximum(OC 1.50% 4.50% 6.75%
Floor or 1.5* 4.50% * current balance)
BB Target Support = maximum(OC 0.00% 3.00% 4.50%
Floor or 1.5* 3.00% * current balance)
Rule 5 Excess Cash Flow after all credit 0.00% 0.00% 0.00%
support rules have been fulfilled
Interest
</TABLE>
- RULE 4: Principal payments are based upon Target Support calculations, all
bonds (except Class X) receive interest based on their interest payment
priorities
- RULE 5: Excess Cash Flow after the fulfillment of all credit tests is
released to Class X
Payment Rules After Current
Collateral Balance < 25% of
Aggregate Cut-off Date Balance *
<TABLE>
Group 1: Fixed Group 2: ARM
<S> <C> <C>
A-1(AAA)
A-2(AAA)
Rule 6 A-3(AAA) A-IV(AAA)
(AFC)
A-4(AAA)
A-5(AAA)
A-6(AAA)(NAS)
Interest
<CAPTION>
<S> <C>
B(AA)(AFC)
C(A)(AFC)
Rule 6 D(BBB)(AFC)
E(BBB-)(AFC)
F(BB)(AFC)
G(BB-)(AFC)
Interest
<CAPTION>
<S> <C>
Rule 7 X(Notional)
</TABLE>
- RULE 6: Principal payments are sequential, all bonds (except Class X) receive
interest based on their interest payment priorities
- RULE 7: Excess Cash Flow is released to Class X
* Subject to certain triggers(See Preliminary Prospectus Supplement).
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
3
<PAGE> 4
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
Capitalized terms used but not otherwise defined herein shall have the meaning
ascribed to them in the Preliminary Prospectus Supplement dated May 10, 1999.
TRANSACTION TERMS
Issue Type Overcollateralization REMIC, Class A-1, A-2, A-3,
A-4, A-5, A-6, A-1V, B, C, and D Certificates (the
"Offered Certificates") offered publicly. All other
Certificates may be privately placed to qualified
institutional buyers or to accredited investors.
Class X may be retained by the issuer.
Cut-off Date All mortgage loan characteristics are based on
balances as of the Cut-off Date, May 1, 1999.
Mortgage Pool The Mortgage Pool was selected from Bank of America's
commercial and multifamily mortgage portfolio of
performing loans with a principal balance of less
than $1.5 million. These loans were originated with
the expectation of being held to maturity in the
loan portfolio. The Mortgage Pool consists of 2,755
multifamily and commercial mortgage loans (the
"Mortgage Loans"), with an aggregate Cut-off Date
Balance of $1,183,164,569 (the "Initial Pool
Balance"), subject to a variance of plus or minus
5%. Approximately 99.0%, by Initial Pool Balance, of
the Mortgage Pool is full recourse to the borrower.
Depositor NationsLink Funding Corporation.
Loan Seller Bank of America NT & SA.
Underwriter NationsBanc Montgomery Securities LLC.
Trustee LaSalle Bank, National Association.
Master Servicer Banc One Mortgage Capital Markets, LLC.
Primary Servicer Bank of America, NT & SA.
Special Servicer Banc One Mortgage Capital Markets, LLC.
Rating Agencies Fitch IBCA, Inc. and Moody's Investors Service, Inc.
Denominations $10,000 minimum for Senior Certificates;
$100,000 minimum for all other Offered Certificates.
Expected Settlement Date May 28, 1999.
Settlement Terms Book-entry through DTC for all Offered Certificates.
Distribution Date To be made monthly on the 10th or on the next
business day, commencing June 10, 1999.
Principal Distributions Principal will be distributed on each Distribution
Date based on the pay rules in the "DESCRIPTION OF
THE CERTIFICATES -- Principal Distribution Amounts"
in the Preliminary Prospectus Supplement. If, due to
losses, the Certificate Balances of the Class B
through G Certificates are reduced to zero,
entitlements to payments of principal to the A-1,
A-2, A-3, A-4, A-5, A-6, and A-1V Certificates will
be pro rata.
Interest Distributions Interest will be distributed on each Distribution
Date in sequential order of Class designations,
based on their interest entitlement, with Classes
A-1, A-2, A-3, A-4, A-5, A-6, and A-1V ranking pari
passu in entitlement to interest.
Losses To be applied first to Excess Cash Flow, then the
over-collateralization amount, then to the next most
subordinated class.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
4
<PAGE> 5
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
Prepayment Premiums Prepayment penalties will be paid only to Class P,
which will be retained by the Mortgage Loan
Seller.
Advances Subject to certain limitations, including, but not
limited to, a recoverability determination, the
Primary Servicer (or Special Servicer for
Specially Serviced loans) will be required
to advance scheduled principal and interest
payments and certain servicing expenses. In
the event that the Primary Servicer or the
Special Servicer, as applicable, fails to
make such advances, the Master the Trustee
or the Fiscal Agent will be required to do
so. All advances will be repaid with
interest at the Prime Rate from collateral
cashflow.
Class A-1V Available Funds Class A-1V will be subject to an Available Funds
Cap Rate: Cap Rate, equal to the rate determined by taking
all interest accrued on the Mortgage Loans at the
respective Net Mortgage Rates, subtracting all
interest accrued on the other Principal
Certificates (assumed for subordinate certificates
to accrue at a rate capped at the Net Weighted
Average Coupon of the Mortgage Loans), dividing
the result by the aggregate Certificate Balance of
the Class A-1V and multiplying it by 360 divided
by the applicable number of accrual days.
Classes B, C, & D Available Classes B, C, & D will be subject to an Available
Funds Cap Rate: Funds Cap Rate, equal to the rate determined by
taking all interest accrued on the Mortgage
Loans at the respective Net Mortgage Rates,
subtracting all interest accrued on Senior
Certificates and other classes of
subordinate certificates (assumed for more
subordinate classes to accrue at a rate
capped at the Net Weighted Average Coupon
of the Mortgage Loans), dividing the result
by the aggregate Certificate Balance of the
remaining classes of Principal Balance
Certificates and multiplying it by 12.
Class A-1V Interest The Class A-1V interest carryover amounts for any
Carryover: Distribution date shall equal (i) the
difference between (a) the amount of
interest the Class A-1V Certificates would
be entitled to receive on the preceding
Distribution Date without regard to the
Class A-1V Available Funds Cap Rate and (b)
the amount of interest to which the Class
A-1V Certificates were actually entitled on
such prior Distribution Date, (ii) the
portion of any amount calculated pursuant
to clause (i) remaining unpaid from prior
Distribution Dates and, (iii) interest
accrued thereon at the then-applicable
Class A-1V LIBOR Rate.
Class B, C, & D Interest The Class B, C, & D interest carryover
Carryover: amounts for any Distribution Date will
equal (i) the difference between (a) the
amount of interest Class B, C, or D would
be entitled to receive on the preceding
Distribution Date without regard to the
Available Funds Cap Rate and (b) the amount
of interest to which such class was
actually entitled on such prior
Distribution Date, (ii) the portion of any
amount calculated pursuant to clause (i)
remaining unpaid from prior Distribution
Dates and, (iii) interest accrued thereon
at the Uncapped Pass-Through Rate for such
class.
Optional Call Clean-up call when loan balances are below
5.0% of Initial Pool Balance, at the
option, first of the Primary Servicer, then
the majority holder of the Controlling
Class, then the Master Servicer.
If the Optional Call is not exercised, the
margin of the Class A-1V Certificates will
double from its initial margin.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
5
<PAGE> 6
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
Controlling Class Class X will be the Controlling Class, subject to
certain performance tests. If performance tests are
not met, the Controlling Class will be the most
junior class of Certificates that has an outstanding
balance equal to at least 25% of its original
balance until performance tests are met (at which
time the Controlling Class will again be Class X).
ERISA Classes A-1, A-2, A-3, A-4, A-5, A-6 and A-1V are
ERISA eligible.
SMMEA The Senior Certificates and Class B Certificates
will be "mortgage related securities" for the
purposes of SMMEA.
Electronic Reporting Information will be provided for modeling on
Bloomberg, Trepp, Conquest, and Intex. Loan-level
detail will be available through the Trustee's
website.
Contact NationsBanc Montgomery Securities LLC
Commercial Mortgage Sales & Trading
Ken Rivkin EMAIL: [email protected]
Bill Hale EMAIL: [email protected]
Geordie Walker EMAIL: [email protected]
Phone: (704) 388-1597
Fax: (704) 388-9677
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
6
<PAGE> 7
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS (1)
GENERAL CHARACTERISTICS
<TABLE>
<CAPTION>
ADJUSTABLE RATE FIXED RATE TOTAL POOL
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Initial Pool Balance $ 329,992,835 $ 853,171,734 $ 1,183,164,569
Number of Mortgage Loans 817 1,938 2,755
Average Cut-off Date Balance $ 403,908 $ 440,233 $ 429,461
Weighted Average Mortgage Rate 8.024% 8.759% 8.554%
Weighted Average Seasoning (months) 61 46 50
Weighted Average Remaining Term To Maturity (months) 78 100 94
Weighted Average Remaining Amortization Term (months) 217 206 209
Weighted Average Cut-off Date LTV Ratio (2) 54.0% 56.0% 55.5%
==============================================================================================================
</TABLE>
(1) Mortgage Pool as of Cut-Off Date
(2) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
PROPERTY TYPE
<TABLE>
<CAPTION>
WEIGHTED MIN/MAX WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE CUT-OFF AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE DATE MORTGAGE
PROPERTY TYPE LOANS LOANS BALANCE BALANCE LTV RATIO(1) LTV RATIO (1) RATE
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Industrial 864 31.4% $ 388,133,786 32.8% 56.6% 3.1 / 77.8% 8.515%
Office 737 26.8 298,739,950 25.2 57.4 8.6 / 77.4 8.539
Retail 413 15.0 170,236,942 14.4 51.6 3.2 / 77.3 8.762
Multifamily 374 13.6 165,432,780 14.0 58.6 5.1 / 76.3 8.399
Mixed Use 226 8.2 96,421,442 8.1 54.0 4.6 / 76.2 8.607
Others 141 5.1 64,199,669 5.4 44.3 10.1 / 71.9 8.625
- -----------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0% $1,183,164,569 100.0% 55.5% 3.1 / 77.8% 8.554%
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - Others Includes Restaurant, Mobile Home, Special Purpose, Mini Storage,
Hotel/Motel, and Health Care.
Mortgage Pool by Property Type
[Pie Chart]
------------------------------
Property
<TABLE>
<CAPTION>
<S> <C>
Industrial 32.8%
Others 5.4%
Mixed Use 8.1%
Multifamily 14.0%
Retail 14.4%
Office 25.2%
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
7
<PAGE> 8
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
PROPERTY LOCATION
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGED CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
LOCATION (STATE/COUNTY) LOANS LOANS BALANCE BALANCE LTV RATIO(1) RATE
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CA 1,814 65.8% $ 755,732,302 63.9% 55.6% 8.658%
Los Angeles 538 19.5 208,756,076 17.6 55.5 8.742
Orange 150 5.4 64,091,316 5.4 57.9 8.593
Santa Clara 102 3.7 52,998,079 4.5 53.6 8.340
Alameda 121 4.4 52,746,933 4.5 56.1 8.565
San Diego 111 4.0 51,213,073 4.3 59.2 8.620
Sacramento 63 2.3 26,309,358 2.2 57.4 8.597
Fresno 72 2.6 26,131,646 2.2 59.1 8.749
San Mateo 55 2.0 25,956,787 2.2 54.4 8.641
San Francisco 55 2.0 25,877,715 2.2 54.4 8.497
Riverside 58 2.1 22,774,914 1.9 55.9 8.652
San Bernardino 65 2.4 20,877,513 1.8 53.7 9.288
Contra Costa 45 1.6 19,655,153 1.7 54.3 8.390
Ventura 35 1.3 19,216,324 1.6 52.8 8.428
Sonoma 26 0.9 14,568,644 1.2 57.9 8.395
Marin 22 0.8 14,422,529 1.2 53.5 8.294
Other Counties 296 10.7 110,136,241 9.3 53.7 8.840
WA 471 17.1 212,817,879 18.0 54.3 8.387
NV 140 5.1 70,837,748 6.0 54.5 8.401
OR 149 5.4 62,534,540 5.3 58.2 8.390
AZ 91 3.3 38,936,266 3.3 55.9 8.121
TX 53 1.9 21,758,799 1.8 57.4 8.286
ID 25 0.9 13,142,306 1.1 53.4 8.739
AK 6 0.2 3,275,515 0.3 60.6 8.612
IL 3 0.1 1,663,014 0.1 57.7 7.875
MN 1 0.0 1,432,727 0.1 55.1 7.375
UT 1 0.0 956,007 0.1 58.3 8.875
NY 1 0.0 77,467 0.0 14.5 9.875
- ----------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0% $1,183,164,569 100.0% 55.5% 8.554%
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to
Original Appraisal Value.
- - THE MORTGAGED PROPERTIES ARE LOCATED THROUGHOUT 12 STATES.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
8
<PAGE> 9
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
Cut-off Date Balance
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % of AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
CUT-OFF DATE BALANCE LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
$25,651 to $249,999 1,042 37.8% $ 154,563,207 13.1% 46.6% 9.259%
$250,000 to $499,999 850 30.9 308,962,423 26.1 54.4 8.646
$500,000 to $749,999 425 15.4 263,070,348 22.2 56.4 8.443
$750,000 to $999,999 228 8.3 198,542,975 16.8 57.8 8.418
$1,000,000 to $1,249,999 120 4.4 133,706,086 11.3 59.0 8.308
$1,250,000 to $1,490,462 90 3.3 124,319,530 10.5 59.7 8.162
- ------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 2,755 100.0% $ 1,183,164,569 100.0% 55.5% 8.554%
- ------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The average Cut-off Date Balance is $429,461.
Cut-off Date Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
CUT-OFF DATE LTV RATIO LOANS LOANS BALANCE BALANCE LTV RATIO(1) RATE
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LESS THAN 20.1% 175 6.4% $ 28,262,617 2.4% 14.8% 9.059%
20.1 % to 30.0% 251 9.1 58,568,035 5.0 25.4 9.013
30.1 % to 40.0% 285 10.3 100,985,123 8.5 35.4 8.806
40.1 % to 45.0% 186 6.8 74,550,462 6.3 42.6 8.552
45.0% to 50.0% 226 8.2 88,225,802 7.5 47.7 8.639
50.1 % to 55.0% 233 8.5 112,649,386 9.5 52.6 8.556
55.0% to 60.0% 334 12.1 174,452,595 14.7 57.5 8.419
60.1 % to 65.0% 374 13.6 184,800,974 15.6 62.5 8.431
65.1 % to 70.0% 363 13.2 185,258,084 15.7 67.6 8.484
70.1 % to 75.0% 315 11.4 167,421,894 14.2 72.4 8.441
75.1% to 80.0% 13 0.5 7,989,598 0.7 76.3 9.006
- ------------------------------------------------------------------------------------------------------------
TOTAL /WEIGHTED AVERAGE 2,755 100.0% $ 1,183,164,569 100.0% 55.5% 8.554%
- ------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average Cut-off Date LTV Ratio is 55.5%.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
9
<PAGE> 10
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
Estimated Current Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED
AVERAGE WEIGHTED
NUMBER OF % OF AGGREGATE % OF ESTIMATED AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CURRENT MORTGAGE
ESTIMATED CURRENT LTV RATIO(1) LOANS LOANS BALANCE BALANCE LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Less than 20.1% 354 12.8% $ 60,387,586 5.1% 14.4% 9.297%
20.1% to 30.0% 295 10.7 96,565,504 8.2 25.2 8.870
30.1% to 40.0% 411 14.9 157,874,820 13.3 35.3 8.653
40.1% to 45.0% 279 10.1 137,256,243 11.6 42.6 8.508
45.1% to 50.0% 301 10.9 156,976,144 13.3 47.5 8.513
50.1% to 55.0% 300 10.9 153,885,635 13.0 52.5 8.596
55.1% to 60.0% 232 8.4 121,949,316 10.3 57.3 8.390
60.1% to 65.0% 177 6.4 90,503,026 7.6 62.4 8.292
65.1% to 70.0% 183 6.6 95,852,847 8.1 67.5 8.332
70.1% to 75.0% 215 7.8 106,565,188 9.0 72.6 8.362
75.1% to 77.6% 8 0.3 5,348,259 0.5 76.4 8.613
- -----------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0% $1,183,164,569 100.0% 48.6% 8.554%
- -----------------------------------------------------------------------------------------------------------
</TABLE>
(1) Estimated Current Appraisal Values were calculated on an extrapolation from
a sample of broker price opinions (See Preliminary Prospectus Supplement).
(2) Estimated Current LTV Ratio is the ratio of Cut-off Date Balance to
Estimated Current Appraisal Value.
- The weighted average Estimated Current LTV is 48.6%.
Maturity Date Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL MATURITY DATE MORTGAGE
MATURITY DATE LTV RATIO LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.0% - 0.0% 1,110 40.3% $ 387,201,324 32.7% 0.0% 8.706%
0. 1% to 20.0% 106 3.8 29,911,294 2.5 12.4 8.679
20.1% to 25.0% 45 1.6 16,175,345 1.4 22.7 8.474
25.1% to 30.0% 80 2.9 31,154,777 2.6 27.6 8.615
30.1% to 35.0% 130 4.7 54,290,934 4.6 32.7 8.326
35.1% to 40.0% 134 4.9 62,327,344 5.3 37.3 8.352
40.1% to 45.0% 155 5.6 74,178,872 6.3 42.5 8.475
45.1% to 50.0% 198 7.2 105,827,827 8.9 47.5 8.461
50.1% to 55.0% 232 8.4 125,388,121 10.6 52.6 8.392
55.1% to 60.0% 230 8.3 120,784,198 10.2 57.4 8.397
60.1% to 65.0% 200 7.3 111,277,065 9.4 62.3 8.657
65.1% to 70.0% 128 4.6 60,148,062 5.1 66.5 8.562
70.1% to 74.8% 7 0.3 4,499,405 0.4 71.4 9.540
- ---------------------------------------------------------------------------------------------------------------------
TOTAL / Weighted Average 2,755 100.0 % $1,183,164,569 100.0% 32.7% 8.554%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Maturity Date LTV Ratio is the ratio of Maturity Date Balance to Original
Appraisal Value.
- The weighted average Maturity Date LTV Ratio is 32.7%.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
10
<PAGE> 11
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
MORTGAGE RATE
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
MORTGAGE RATE LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 7.500% 125 4.5% $ 82,368,533 7.0% 56.1% 7.203%
7.500% to 7.999% 353 12.8 217,817,132 18.4 56.5 7.745
8.000% to 8.499% 570 20.7 294,541,724 24.9 57.7 8.182
8.500% to 8.999% 561 20.4 252,218,741 21.3 56.9 8.668
9.000% to 9.499% 405 14.7 161,902,754 13.7 55.5 9.146
9.500% to 9.999% 384 13.9 99,621,275 8.4 50.2 9.652
10.000% to 10.499% 170 6.2 35,088,210 3.0 45.0 10.113
10.500% to 10.999% 69 2.5 15,659,217 1.3 49.3 10.701
11.000% to 11.999% 71 2.6 17,322,732 1.5 44.2 11.403
12.000% to 12.999% 37 1.3 5,694,269 0.5 38.1 12.173
Greater than 12.999% 10 0.4 929,983 0.1 37.9 13.438
- -------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0 % $1,183,164,569 100.0% 55.5% 8.554%
- -------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Balance to Original Appraisal
Value.
- The weighted average Mortgage Rate is 8.554%.
- The weighted average Administrative Fee Rate is 0.223%.
- The weighted average Net Mortgage Rate is 8.331%.
Seasoning
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
SEASONING LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 861 31.3% $ 432,937,161 36.6% 59.2% 8.221%
2.0 to 3.9 years 838 30.4 410,740,071 34.7 57.1 8.484
4.0 to 5.9 years 299 10.9 142,319,192 12.0 52.9 8.602
6.0 to 7.9 years 105 3.8 41,046,565 3.5 51.8 8.734
8.0 to 9.9 years 82 3.0 24,060,182 2.0 48.0 9.861
10.0 to 11.9 years 126 4.6 38,604,342 3.3 52.6 9.375
12.0 to 13.9 years 104 3.8 31,606,445 2.7 52.8 9.146
14.0 to 15.9 years 9 0.3 3,187,661 0.3 45.8 8.577
16.0 to 17.9 years 5 0.2 855,895 0.1 39.6 9.772
18.0 to 19.9 years 66 2.4 13,604,772 1.1 34.7 10.514
20.0 to 24.9 years 252 9.1 42,316,621 3.6 31.1 9.713
25.0 to 29.9 years 8 0.3 1,885,662 0.2 20.9 8.286
- ------------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0% $1,183,164,569 100.0% 55.5% 8.554%
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off LTV is the ratio of the Cut-off Date Balance to the Original
Appraisal Value.
- The weighted average Loan Age is 50 months.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
11
<PAGE> 12
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
Remaining Term
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
REMAINING TERM LOANS LOANS BALANCE BALANCE LTV RATIO(1) RATE
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 107 3.9% $ 32,845,614 2.8% 47.1% 9.432%
2.0 to 3.9 years 440 16.0 141,579,906 12.0 50.9 8.924
4.0 to 5.9 years 503 18.3 178,504,783 15.1 49.3 8.787
6.0 to 7.9 years 581 21.1 293,263,117 24.8 58.0 8.460
8.0 to 9.9 years 522 18.9 266,270,541 22.5 58.5 8.225
10.0 to 11.9 years 107 3.9 46,304,458 3.9 50.0 8.750
12.0 to 13.9 years 324 11.8 152,676,710 12.9 58.4 8.580
14.0 to 14.9 years 171 6.2 71,719,439 6.1 58.9 8.260
- ------------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0% $1,183,164,669 100.0% 55.5% 8.554%
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average Remaining Term is 94 months.
Remaining Amortization Term
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
REMAINING AMORTIZATION TERM LOANS LOANS BALANCE BALANCE LTV RATIO(1) RATE
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 33 1.2% $ 3,910,141 0.3% 10.1% 9.528%
2.0 to 3.9 years 165 6.0 19,609,830 1.7 21.3 9.749
4.0 to 5.9 years 176 6.4 37,267,909 3.1 30.8 9.561
6.0 to 7.9 years 124 4.5 40,529,550 3.4 38.5 8.952
8.0 to 9.9 years 136 4.9 52,412,187 4.4 43.9 8.584
10.0 to 11.9 years 173 6.3 72,037,938 6.1 50.6 8.644
12.0 to 13.9 years 393 14.3 179,117,305 15.1 57.3 8.563
14.0 to 15.9 years 267 9.7 118,761,582 10.0 57.1 8.395
16.0 to 17.9 years 231 8.4 100,542,286 8.5 55.5 8.680
18.0 to 19.9 years 233 8.5 104,137,172 8.8 56.7 8.560
20.0 to 24.9 years 508 18.4 300,670,971 25.4 59.9 8.407
25.0 to 29.9 years 316 11.5 154,167,697 13.0 64.7 8.287
- ------------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 2,755 100.0% $1,183,164,669 100.0% 65.5% 8.554%
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Appraisal
Value.
- - The weighted average Remaining Amortization Term is 209 months.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
12
<PAGE> 13
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - FIXED RATE MORTGAGE LOANS
<TABLE>
<CAPTION>
Property Type WEIGHTED MIN/MAX WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE CUT-OFF AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE DATE MORTGAGE
Property Type LOANS LOANS BALANCE BALANCE LTV RATIO (1) LTV Ratio (1) RATE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
INDUSTRIAL 607 31.3% $282,484,052 33.1% 57.8% 3.1 / 77.8% 8.677%
Office 496 25.6 207,020,650 24.3 57.6 8.6 / 77.4 8.761
Retail 304 15.7 124,560,396 14.6 51.9 3.2 / 77.3 9.013
Multifamily 274 14.1 120,924,196 14.2 58.9 9.3 / 76.3 8.608
Mixed Use 152 7.8 67,532,835 7.9 54.3 4.6 / 76.2 8.824
Others 105 5.4 50,649,605 5.9 44.8 10.1 / 71.9 8.849
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 56.0% 3.1 / 77.8% 8.759
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - Others includes Restaurant, Mobile Home, Mini-Storage, Special Purpose,
Hotel/Motel, and Health Care.
Property Location
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGED CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
LOCATION (STATE/COUNTY) LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CA 1,275 65.8% $ 541,486,221 63.5% 55.9% 8.841%
Los Angeles 378 19.5 147,272,446 17.3 55.5 8.923
Orange 105 5.4 47,700,231 5.6 58.0 8.725
San Diego 83 4.3 40,967,356 4.8 59.3 8.752
Alameda 90 4.6 40,863,939 4.8 56.2 8.762
Santa Clara 80 4.1 40,226,213 4.7 52.5 8.547
Other Counties 539 27.8 224,456,036 26.3 55.7 8.894
WA 282 14.6 135,433,922 15.9 55.7 8.750
NV 131 6.8 66,292,912 7.8 54.2 8.458
OR 118 6.1 51,004,279 6.0 59.2 8.552
AZ 72 3.7 26,476,659 3.1 56.8 8.469
TX 32 1.7 14,907,955 1.7 59.4 8.525
ID 18 0.9 10,935,647 1.3 54.9 8.919
AK 4 0.2 2,504,925 0.3 58.3 8.746
IL 3 0.2 1,663,014 0.2 57.7 7.875
MN 1 0.1 1,432,727 0.2 55.1 7.375
UT 1 0.1 956,007 0.1 58.3 8.875
NY 1 0.1 77,467 0.0 14.5 9.875
- ------------------------------------------------------------------------------------------------------------
Total / WEIGHTED AVERAGE 1,938 100.0% $ 853,171,734 100.0% 56.0% 8.759%
- ------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The Mortgaged Properties are located throughout 12 states.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
13
<PAGE> 14
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - FIXED RATE MORTGAGE LOANS
Cut-off Date Balance
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
CUT-OFF DATE BALANCE LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
$ 25,651 to $ 249,999 720 37.2% $ 105,934,483 12.4% 45.8% 9.530%
$ 250,000 to $ 499,999 582 30.0 213,386,226 25.0 55.3 8.877
$ 500,000 to $ 749,999 308 15.9 190,483,131 22.3 56.1 8.634
$ 750,000 to $ 999,999 163 8.4 142,367,788 16.7 58.5 8.666
$1,000,000 to $1,249,999 102 5.3 114,024,108 13.4 60.0 8.378
$1,250,000 to $1,490,462 63 3.3 86,975,999 10.2 60.8 8.453
- --------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $ 863,171,734 100.0% 56.0% 8.759%
- --------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The average Cut-off Date Balance is $440,233.
Cut-off Date Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
CUT-OFF DATE LTV RATIO LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 20.1% 134 6.9% $ 19,264,025 2.3% 14.5% 9.475%
20.1% to 30.0% 188 9.7 41,735,551 4.9 25.5 9.362
30.1% to 40.0% 205 10.6 71,490,779 8.4 35.5 9.143
40.1% to 45.0% 120 6.2 52,363,132 6.1 42.5 8.819
45.0% to 50.0% 141 7.3 61,653,338 7.2 47.8 8.872
50.1% to 55.0% 150 7.7 77,834,682 9.1 52.7 8.858
55.0% to 60.0% 219 11.3 115,904,355 13.6 57.5 8.630
60.1% to 65.0% 254 13.1 126,945,260 14.9 62.5 8.624
65.1% to 70.0% 257 13.3 139,193,545 16.3 67.5 8.576
70.1% to 75.0% 258 13.3 139,577,700 16.4 72.4 8.546
75.1% to 77.8% 12 0.6 7,209,368 0.8 76.3 9.156
- --------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 56.0% 8.759%
- --------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average Cut-off Date LTV Ratio is 56.0%.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
14
<PAGE> 15
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - FIXED RATE MORTGAGE
Estimated Current Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED
AVERAGE WEIGHTED
NUMBER OF % OF AGGREGATE % OF ESTIMATED AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CURRENT MORTGAGE
ESTIMATED CURRENT LTV RATIO (1) LOANS LOANS BALANCE BALANCE LTV RATIO (2) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 20.1% 284 14.7% $ 43,525,967 5.1% 14.2% 9.737%
20.1% to 30.0% 201 10.4 69,119,739 8.1 25.2 9.172
30.1% to 40.0% 232 12.0 95,043,125 11.1 35.1 9.023
40.1% to 45.0% 178 9.2 94,524,074 11.1 42.5 8.768
45.1% to 50.0% 186 9.6 100,671,102 11.8 47.5 8.756
50.1% to 55.0% 202 10.4 108,629,911 12.7 52.5 8.760
55.1% to 60.0% 168 8.7 92,112,861 10.8 57.3 8.533
60.1% to 65.0% 140 7.2 69,250,571 8.1 62.4 8.468
65.1% to 70.0% 151 7.8 81,590,680 9.6 67.4 8.419
70.1% to 75.0% 190 9.8 94,258,876 11.0 72.6 8.457
75.1% to 77.6% 6 0.3 4,444,828 0.5 76.4 8.777
- --------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 49.8% 8.759%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Estimated Current Appraisal Values were calculated based on an extrapolation
from a sample of broker price opinions (See Preliminary Prospectus
Supplement).
(2) Estimated Current LTV Ratio is the ratio of Cut-off Date Balance to
Estimated Current Appraisal Value.
- - The weighted average Estimated Current LTV is 49.8%.
Maturity Date Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL MATURITY DATE MORTGAGE
MATURITY DATE LTV RATIO LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.0%-0.0% 909 46.9% $324,518,800 38.0% 0.0% 8.867%
0.1% to 20.0% 62 3.2 17,519,971 2.1 11.2 9.148
20.1% to 25.0% 23 1.2 9,128,251 1.1 22.8 8.827
25.1% to 30.0% 50 2.6 21,438,006 2.5 27.7 8.855
30.1% to 35.0% 77 4.0 32,345,614 3.8 32.9 8.615
35.1% to 40.0% 74 3.8 37,111,789 4.3 37.5 8.771
40.1% to 45.0% 96 5.0 52,084,061 6.1 42.3 8.676
45.1% to 50.0% 125 6.4 71,270,699 8.4 47.5 8.667
50.1% to 55.0% 140 7.2 75,790,156 8.9 52.6 8.652
55.1% to 60.0% 142 7.3 79,601,656 9.3 57.4 8.530
60.1% to 65.0% 135 7.0 80,565,457 9.4 62.2 8.731
65.1% to 70.0% 98 5.1 47,297,870 5.5 66.6 8.660
70.1% to 74.8% 7 0.4 4,499,405 0.5 71.4 9.540
- --------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 30.6% 8.759%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Maturity Date LTV Ratio is the ratio of Maturity Date Balance to Original
Appraisal Value.
- - The weighted average Maturity Date LTV Ratio is 30.6%.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
15
<PAGE> 16
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - FIXED RATE MORTGAGE LOANS
Mortgage Rate
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
MORTGAGE RATE LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 7.500% 6 0.3% $ 5,302,716 0.6% 58.9% 7.317%
7.500% to 7.999% 126 6.5 98,222,655 11.5 58.7 7.788
8.000% to 8.499% 396 20.4 237,096,976 27.8 59.4 8.193
8.500% to 8.999% 474 24.5 231,913,429 27.2 57.6 8.672
9.000% to 9.499% 319 16.5 136,856,468 16.0 55.8 9.138
9.500% to 9.999% 292 15.1 75,981,651 8.9 48.1 9.648
10.000% to 10.499% 141 7.3 29,492,690 3.5 42.8 10.115
10.500% to 10.999% 67 3.5 14,491,035 1.7 48.9 10.713
11.000% to 11.999% 70 3.6 17,189,864 2.0 44.4 11.404
12.000% to 12.999% 37 1.9 5,694,269 0.7 38.1 12.173
Greater than 12.999% 10 0.5 929,983 0.1 37.9 13.438
- -----------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 56.0% 8.759%
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Balance to Original Appraisal
Value.
- - The weighted average Mortgage Rate is 8.759%.
- - The weighted average Administrative Fee Rate is 0.223%.
- - The weighted average Net Mortgage Rate is 8.535%.
Seasoning
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
SEASONING LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 717 37.0% $355,911,647 41.7% 60.1% 8.369%
2.0 to 3.9 years 621 32.0 319,942,986 37.5 57.5 8.713
4.0 to 5.9 years 141 7.3 72,632,424 8.5 52.6 9.199
6.0 to 7.9 years 46 2.4 18,099,804 2.1 53.9 9.724
8.0 to 9.9 years 56 2.9 16,264,392 1.9 48.8 10.526
10.0 to 11.9 years 19 1.0 6,302,976 0.7 41.9 9.323
12.0 to 13.9 years 20 1.0 7,452,680 0.9 49.9 9.237
14.0 to 15.9 years 5 0.3 1,543,452 0.2 44.5 9.755
16.0 to 17.9 years 2 0.1 292,135 0.0 38.9 12.252
18.0 to 19.9 years 61 3.1 12,417,314 1.5 34.8 10.752
20.0 to 24.9 years 242 12.5 40,426,262 4.7 30.8 9.791
25.0 to 29.9 years 8 0.4 1,885,662 0.2 20.9 8.286
- ----------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 56.0% 8.759%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off LTV is the ratio of the Cut-off Date Balance to the Original
Appraisal Value.
- - The weighted average Loan Age is 46 months.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
16
<PAGE> 17
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - FIXED RATE MORTGAGE LOANS
Remaining Term
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
REMAINING TERM LOANS LOANS BALANCE BALANCE LTV RATIO(1) RATE
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 84 4.3% $ 24,848,661 2.9% 46.4% 9.848%
2.0 to 3.9 years 225 11.6 67,168,069 7.9 48.8 9.361
4.0 to 5.9 years 315 16.3 101,236,994 11.9 47.2 9.229
6.0 to 7.9 years 431 22.2 226,354,467 26.5 58.8 8.668
8.0 to 9.9 years 392 20.2 204,013,003 23.9 59.3 8.406
10.0 to 11.9 years 77 4.0 36,093,629 4.2 48.7 8.972
12.0 to 13.9 years 250 12.9 125,634,995 14.7 58.8 8.763
14.0 to 14.9 years 164 8.5 67,821,916 7.9 59.3 8.303
- ----------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 56.0% 8.759%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average Remaining Term is 100 months.
Remaining Amortization Term
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
REMAINING AMORTIZATION TERM LOANS LOANS BALANCE BALANCE LTV RATIO(1) RATE
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 31 1.6% $ 3,719,564 0.4% 10.0% 9.580%
2.0 to 3.9 years 147 7.6 17,225,057 2.0 20.9 9.870
4.0 to 5.9 years 154 7.9 32,110,043 3.8 31.1 9.742
6.0 to 7.9 years 87 4.5 31,465,347 3.7 39.8 9.222
8.0 to 9.9 years 88 4.5 36,873,173 4.3 45.7 8.941
10.0 to 11.9 years 120 6.2 55,745,326 6.5 50.7 8.841
12.0 to 13.9 years 290 15.0 138,362,503 16.2 58.2 8.795
14.0 to 15.9 years 222 11.5 98,850,518 11.6 58.1 8.475
16.0 to 17.9 years 113 5.8 58,595,731 6.9 55.5 8.835
18.0 to 19.9 years 93 4.8 51,257,448 6.0 58.2 8.542
20.0 to 24.9 years 342 17.6 207,611,348 24.3 61.2 8.684
25.0 to 29.9 years 251 13.0 121,355,677 14.2 65.1 8.473
- ----------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1,938 100.0% $853,171,734 100.0% 56.0% 8.759%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Appraisal
Value.
- - The weighted average Remaining Amortization Term is 206 months.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
17
<PAGE> 18
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - ADJUSTABLE RATE MORTGAGE LOANS
Property Type
<TABLE>
<CAPTION>
WEIGHTED MIN/MAX WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE CUT-OFF AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE DATE MORTGAGE
PROPERTY TYPE LOANS LOANS BALANCE BALANCE LTV RATIO (1) LTV RATIO (1) RATE
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Industrial 257 31.5% $105,649,734 32.0% 53.2% 8.3 / 76.1% 8.082
Office 241 29.5 91,719,300 27.8 56.7 9.7 / 74.4 8.036
Retail 109 13.3 45,676,547 13.8 50.5 9.9 / 65.1 8.076
Multifamily 100 12.2 44,508,584 13.5 57.8 5.1 / 74.4 7.829
Mixed Use 74 9.1 28,888,607 8.8 53.4 9.7 / 72.8 8.099
Others 36 4.4 13,550,064 4.1 42.4 10.8 / 62.4 7.788
- ------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 54.0% 5.1 / 76.1% 8.024%
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - Others includes Hotel/Motel, Special Purpose, Mobile Home, Restaurant and
Mini-Storage.
Property Location
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGED CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
LOCATION (STATE/COUNTY) LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CA 539 66.0% $ 214,246,081 64.9% 54.7% 8.197%
Los Angeles 160 19.6 61,483,630 18.6 55.3 8.310
Orange 45 5.5 16,391,085 5.0 57.7 8.207
Santa Clara 22 2.7 12,771,865 3.9 57.3 7.685
Alameda 31 3.8 11,882,994 3.6 55.6 7.887
Fresno 25 3.1 10,862,406 3.3 60.3 8.020
Other Counties 256 31.3 100,854,100 30.6 52.8 8.247
WA 189 23.1 77,383,957 23.5 52.0 7.753
AZ 19 2.3 12,459,607 3.8 53.9 7.381
OR 31 3.8 11,530,261 3.5 53.8 7.674
TX 21 2.6 6,850,845 2.1 53.2 7.766
NV 9 1.1 4,544,836 1.4 57.9 7.576
ID 7 0.9 2,206,659 0.7 45.9 7.847
AK 2 0.2 770,591 0.2 68.2 8.177
- -------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 817 100.0% $ 329,992,835 100.0% 54.0% 8.024%
- -------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The Mortgaged Properties are located throughout 8 states.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
18
<PAGE> 19
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - ADJUSTABLE RATE MORTGAGE LOANS
Cut-off Date Balance
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
CUT-OFF DATE BALANCE LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
$43,862 to $249,999 322 39.4% $ 48,628,724 14.7% 48.2% 8.668%
$250,000 to $499,999 268 32.8 95,576,197 29.0 52.3 8.131
$500,000 to $749,999 117 14.3 72,587,217 22.0 56.9 7.942
$750,000 to $999,999 65 8.0 56,175,187 17.0 56.1 7.789
$1,000,000 to $1,249,999 18 2.2 19,681,978 6.0 53.5 7.904
$1,250,000 to $1,470,682 27 3.3 37,343,531 11.3 57.3 7.485
- ----------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 54.0% 8.024%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The average Cut-off Date Balance is $403,908.
Cut-off Date Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
CUT-OFF DATE LTV RATIO LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 20.1% 41 5.0% $ 8,998,592 2.7% 15.4% 8.168%
20.1% to 30.0% 63 7.7 16,832,484 5.1 25.2 8.149
30.1% to 40.0% 80 9.8 29,494,344 8.9 35.2 7.988
40.1% to 45.0% 66 8.1 22,187,330 6.7 42.6 7.921
45.0% to 50.0% 85 10.4 26,572,464 8.1 47.6 8.097
50.1% to 55.0% 83 10.2 34,814,703 10.6 52.5 7.881
55.0% to 60.0% 115 14.1 58,548,240 17.7 57.6 8.003
60.1% to 65.0% 120 14.7 57,855,714 17.5 62.5 8.008
65.1% to 70.0% 106 13.0 46,064,540 14.0 67.9 8.206
70.1% to 75.0% 57 7.0 27,844,195 8.4 72.0 7.918
75.1% to 76.1% 1 0.1 780,230 0.2 76.1 7.625
- ----------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 54.0% 8.024%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average Cut-off Date LTV Ratio is 54.0%.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
19
<PAGE> 20
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - ADJUSTABLE RATE MORTGAGE LOANS
Estimated Current Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED
% OF AVERAGE WEIGHTED
NUMBER OF % OF AGGREGATE INITIAL ESTIMATED AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE POOL CURRENT MORTGAGE
ESTIMATED CURRENT LTV RATIO (1) LOANS LOANS BALANCE BALANCE LTV RATIO (2) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
LESS THAN 20.1% 70 8.6% $ 16,861,619 5.1% 14.8% 8.160%
20.1% to 30.0% 94 11.5 27,445,765 8.3 25.4 8.112
30.1% to 40.0% 179 21.9 62,831,695 19.0 35.5 8.095
40.1% to 45.0% 101 12.4 42,732,170 12.9 42.8 7.934
45.1% to 50.0% 115 14.1 56,305,042 17.1 47.5 8.077
50.1% to 55.0% 98 12.0 45,255,724 13.7 52.3 8.203
55.1% to 60.0% 64 7.8 29,836,455 9.0 57.3 7.945
60.1% to 65.0% 37 4.5 21,252,456 6.4 62.6 7.720
65.1% to 70.0% 32 3.9 14,262,167 4.3 67.7 7.834
70.1% to 75.0% 25 3.1 12,306,312 3.7 72.7 7.633
75.1% to 77.6% 2 0.2 903,431 0.3 76.6 7.808
- --------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 45.5% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Estimated Current Appraisal Value is based on an extrapolation from a
sample of broker price opinions (See Preliminary Prospectus Supplement).
(2) Estimated Current LTV Ratio is the ratio of Cut-off Date Balance to
Estimated Current Appraisal Value.
- - The weighted average Estimated Current LTV is 45.5%.
Maturity Date Loan-to-Value Ratio
<TABLE>
<CAPTION>
WEIGHTED
% OF AVERAGE WEIGHTED
NUMBER OF % OF AGGREGATE INITIAL MATURITY AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE POOL DATE MORTGAGE
MATURITY DATE LTV RATIO LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.0%-0.0% 201 24.6% $ 62,682,524 19.0% 0.0% 7.871%
0.1% to 20.0% 44 5.4 12,391,323 3.8 14.1 8.018
20.1% to 25.0% 22 2.7 7,047,094 2.1 22.5 8.016
25.1% to 30.0% 30 3.7 9,716,771 2.9 27.5 8.087
30.1% to 35.0% 53 6.5 21,945,320 6.7 32.3 7.899
35.1% to 40.0% 60 7.3 25,215,554 7.6 37.1 7.735
40.1% to 45.0% 59 7.2 22,094,811 6.7 42.9 8.002
45.1% to 50.0% 73 8.9 34,557,128 10.5 47.3 8.036
50.1% to 55.0% 92 11.3 49,597,966 15.0 52.6 7.996
55.1% to 60.0% 88 10.8 41,182,542 12.5 57.3 8.139
60.1% to 65.0% 65 8.0 30,711,609 9.3 62.6 8.463
65.1% to 69.5% 30 3.7 12,850,193 3.9 66.0 8.201
- --------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 38.1% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Maturity Date LTV Ratio is the ratio of Maturity Date Balance to Original
Appraisal Value.
- - The weighted average Maturity Date LTV Ratio is 38.1%.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
20
<PAGE> 21
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-1V, B, C, AND D CERTIFICATES $1,097,385,138
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - ADJUSTABLE RATE MORTGAGE LOANS
Mortgage Rate
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
MORTGAGE RATE LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 7.500% 119 14.6% $ 77,065,817 23.4% 55.9% 7.196%
7.500% to 7.999% 227 27.8 119,594,477 36.2 54.6 7.710
8.000% to 8.499% 174 21.3 57,444,747 17.4 50.8 8.132
8.500% to 8.999% 87 10.6 20,305,312 6.2 48.2 8.624
9.000% to 9.499% 86 10.5 25,046,287 7.6 54.0 9.185
9.500% to 9.999% 92 11.3 23,639,624 7.2 56.9 9.665
10.000% to 10.499% 29 3.5 5,595,520 1.7 57.0 10.101
10.500% to 10.999% 2 0.2 1,168,182 0.4 54.3 10.551
11.000% to 11.250% 1 0.1 132,868 0.0 23.7 11.250
- --------------------------------------------------------------------------------------------------------------------
Total / Weighted AVERAGE 817 100.0% $329,992,836 100.0% 54.0% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Balance to Original
Appraisal Value.
- - The weighted average Mortgage Rate is 8.024%.
- - The weighted average Administrative Fee Rate is 0.223%.
- - The weighted average Net Mortgage Rate is 7.801%.
Seasoning
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
SEASONING LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 144 17.6% $ 77,025,514 23.3% 55.5% 7.540%
2.0 to 3.9 years 217 26.6 90,797,085 27.5 55.6 7.678
4.0 to 5.9 years 158 19.3 69,686,768 21.1 53.3 7.980
6.0 to 7.9 years 59 7.2 22,946,762 7.0 50.1 7.953
8.0 to 9.9 years 26 3.2 7,795,790 2.4 46.4 8.473
10.0 to 11.9 years 107 13.1 32,301,366 9.8 54.6 9.385
12.0 to 13.9 years 84 10.3 24,153,765 7.3 53.7 9.119
14.0 to 15.9 years 4 0.5 1,644,209 0.5 47.0 7.470
16.0 to 17.9 years 3 0.4 563,760 0.2 40.0 8.488
18.0 to 19.9 years 5 0.6 1,187,458 0.4 33.9 8.025
20.0 to 24.9 years 10 1.2 1,890,359 0.6 37.4 8.057
- --------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 817 100.0% $ 329,992,835 100.0% 54.0% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off LTV is the ratio of the Cut-off Date Balance to the Original
Appraisal Value.
- - The weighted average Loan Age is 61 months.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
21
<PAGE> 22
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
Mortgage Pool Characteristics - Adjustable Rate Mortgage Loans
Remaining Term
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
REMAINING TERM LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 23 2.8% $ 7,996,953 2.4% 49.5% 8.139%
2.0 to 3.9 years 215 26.3 74,411,838 22.5 52.9 8.529
4.0 to 5.9 years 188 23.0 77,267,789 23.4 52.1 8.209
6.0 to 7.9 years 150 18.4 66,908,650 20.3 55.2 7.756
8.0 to 9.9 years 130 15.9 62,257,538 18.9 55.8 7.631
10.0 to 11.9 years 30 3.7 10,210,829 3.1 54.6 7.966
12.0 to 13.9 years 74 9.1 27,041,715 8.2 56.7 7.731
14.0 to 14.9 years 7 0.9 3,897,523 1.2 52.3 7.520
- --------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 54.0% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average Remaining Term is 78 months.
Remaining Amortization Term
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
REMAINING AMORTIZATION TERM LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 2.0 years 2 0.2% $ 190,577 0.1% 11.9% 8.513%
2.0 to 3.9 years 18 2.2 2,384,773 0.7 24.2 8.875
4.0 to 5.9 years 22 2.7 5,157,867 1.6 29.5 8.434
6.0 to 7.9 years 37 4.5 9,064,204 2.7 33.7 8.015
8.0 to 9.9 years 48 5.9 15,539,014 4.7 39.5 7.737
10.0 to 11.9 years 53 6.5 16,292,613 4.9 50.1 7.971
12.0 to 13.9 years 103 12.6 40,754,802 12.4 54.1 7.775
14.0 to 15.9 years 45 5.5 19,911,064 6.0 52.3 7.996
16.0 to 17.9 years 118 14.4 41,946,555 12.7 55.5 8.464
18.0 to 19.9 years 140 17.1 52,879,724 16.0 55.2 8.577
20.0 to 24.9 years 166 20.3 93,059,623 28.2 57.0 7.788
25.0 to 29.9 years 65 8.0 32,812,020 9.9 63.3 7.599
- -----------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 54.0% 8.024%
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Appraisal
Value.
- - The weighted average Remaining Amortization Term is 217 months.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
22
<PAGE> 23
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999 - SL
CLASS A-1, A-2, A-3, A-4, A-5, A-1V, B, C, AND D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS - ADJUSTABLE RATE MORTGAGE LOANS
Adjustable Rate Indices
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
ADJUSTABLE RATE INDICES LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
6 MONTH CD 373 45.7% $154,045,870 46.7% 53.8% 7.796%
6 Month LIBOR 253 31.0 112,784,846 34.2 53.1 7.714
Prime 176 21.5 50,200,199 15.2 55.6 9.513
3 Month LIBOR 10 1.2 9,178,447 2.8 58.2 7.700
1 Month LIBOR 3 0.4 2,360,796 0.7 62.8 7.625
1 Year CMT 1 0.1 1,102,963 0.3 51.3 7.375
1 Year LIBOR 1 0.1 319,715 0.1 32.0 8.000
- --------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 817 100.0% $329,992,835 100.0% 54.0% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
Gross Margins
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE
GROSS MARGINS LOANS LOANS BALANCE BALANCE LTV RATIO (1) RATE
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less than 1.250% 2 0.2% $ 1,410,200 0.4% 19.1% 7.277%
1.250% to 1.499% 15 1.8 10,287,723 3.1 53.9 8.727
1.500% to 1.749% 72 8.8 23,120,692 7.0 56.8 9.409
1.750% to 1.999% 28 3.4 13,251,707 4.0 53.7 8.038
2.000% to 2.249% 138 16.9 58,919,709 17.9 57.6 7.842
2.250% to 2.499% 100 12.2 60,613,041 18.4 54.2 7.526
2.500% to 2.749% 117 14.3 51,855,968 15.7 54.2 7.724
2.750% to 2.999% 141 17.3 59,905,858 18.2 53.3 7.954
3.000% to 3.249% 104 12.7 30,547,592 9.3 48.7 8.329
3.250% to 3.499% 38 4.7 10,083,293 3.1 53.1 8.386
3.500% to 3.749% 42 5.1 5,975,502 1.8 48.4 8.733
3.750% to 3.999% 12 1.5 3,118,433 0.9 58.6 9.147
Greater than 3.999% 8 1.0 903,117 0.3 35.3 9.698
- --------------------------------------------------------------------------------------------------------------------
TOTAL / WEIGHTED AVERAGE 817 100.0% $ 329,992,835 100.0% 54.0% 8.024%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Cut-off Date LTV Ratio is the ratio of Cut-off Date Balance to Original
Appraisal Value.
- - The weighted average gross margin is 2.402%.
- - The weighted average net mortgage rate of the adjustable rate mortgage
loans was 2.864% greater than one month LIBOR on March 31 1999.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
23
<PAGE> 24
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
AVAILABLE FUNDS CAP - CLASS A-IV
ASSUMPTIONS
Indices shift (see AFC Scenarios at right) in Period I and remain constant
thereafter
Pre-payment speeds are 12% and 16% CPR for Loan Group I and Loan
Group 2
See Maturity Assumptions as defined in the Preliminary Prospectus
Supplement for other assumptions
<TABLE>
<CAPTION>
Bond Class: A-1V
- ------------------------------------------------------------------------------------------------------------------------------
Period Pay Date I II Period Pay Date I II Period Pay Date I II
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 6/10/99 30.17% 30.17% 35 4/10/02 13.32 20.21 69 2/10/05 15.76 22.26
2 7/10/99 13.10 14.25 36 5/10/02 13.77 20.88 70 3/10/05 17.61 24.77
3 8/10/99 12.69 15.23 37 6/10/02 13.40 20.27 71 4/10/05 15.99 22.43
4 9/10/99 12.72 16.41 38 7/10/02 13.87 20.96 72 5/10/05 16.65 23.27
5 10/10/99 13.16 18.31 39 8/10/02 13.50 20.36 73 6/10/05 16.12 22.52
6 11/10/99 12.70 18.86 40 9/10/02 13.60 20.44 74 7/10/05 16.74 23.32
7 12/10/99 13.12 20.21 41 10/10/02 14.10 21.16 75 8/10/05 16.17 22.52
8 1/10/00 12.73 19.60 42 11/10/02 13.73 20.54 76 9/10/05 16.14 22.48
9 2/10/00 12.77 19.63 43 12/10/02 14.23 21.27 77 10/10/05 16.81 23.32
10 3/10/00 13.68 21.01 44 1/10/03 13.85 20.66 78 11/10/05 16.45 22.70
11 4/10/00 12.84 19.69 45 2/10/03 13.88 20.67 79 12/10/05 17.03 23.48
12 5/10/00 13.28 20.36 46 3/10/03 15.37 22.89 80 1/10/06 16.32 22.56
13 6/10/00 12.86 19.70 47 4/10/03 13.94 20.73 81 2/10/06 16.31 22.53
14 7/10/00 13.31 20.37 48 5/10/03 14.46 21.46 82 3/10/06 17.98 24.88
15 8/10/00 12.89 19.71 49 6/10/03 13.98 20.75 83 4/10/06 16.33 22.53
16 9/10/00 12.93 19.73 50 7/10/03 14.60 21.60 84 5/10/06 16.97 23.34
17 10/10/00 13.41 20.41 51 8/10/03 14.29 21.04 85 6/10/06 16.35 22.51
18 11/10/00 12.99 19.76 52 9/10/03 14.39 21.13 86 7/10/06 17.30 23.59
19 12/10/00 13.45 20.44 53 10/10/03 15.04 22.00 87 8/10/06 16.90 22.95
20 1/10/01 13.01 19.77 54 11/10/03 14.65 21.37 88 9/10/06 16.98 23.00
21 2/10/01 13.04 19.83 55 12/10/03 15.18 22.11 89 10/10/06 17.67 23.85
22 3/10/01 14.46 22.00 56 1/10/04 14.78 21.47 90 11/10/06 17.18 23.12
23 4/10/01 13.03 19.88 57 2/10/04 14.89 21.60 91 12/10/06 17.84 23.94
24 5/10/01 13.48 20.58 58 3/10/04 15.96 23.10 92 1/10/07 17.44 23.31
25 6/10/01 13.03 19.93 59 4/10/04 15.05 21.76 93 2/10/07 18.09 23.83
26 7/10/01 13.48 20.65 60 5/10/04 15.66 22.57 94 3/10/07 20.87 27.31
27 8/10/01 13.01 19.98 61 6/10/04 15.24 21.91 95 4/10/07 19.32 25.04
28 9/10/01 13.01 19.98 62 7/10/04 15.79 22.66 96 5/10/07 20.46 26.25
29 10/10/01 13.47 20.65 63 8/10/04 15.44 22.06 97 6/10/07 20.52 27.89
30 11/10/01 13.07 20.01 64 9/10/04 15.58 22.17 98 7/10/07 26.74 36.43
31 12/10/01 13.50 20.66 65 10/10/04 16.27 23.05 99 8/10/07 42.55 58.02
32 1/10/02 13.11 20.04 66 11/10/04 15.80 22.33 100 9/10/07 519.74 444.70
33 2/10/02 13.22 20.13 67 12/10/04 16.31 23.05
34 3/10/02 14.64 22.28 68 1/10/05 15.78 22.29
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AFC Scenarios I II
<S> <C> <C>
1m LIBOR 4.90% 13.00%
3m LIBOR 5.00% 13.00%
6m LIBOR 5.07% 13.00%
1y LIBOR 5.31% 13.00%
6m Treasury 4.68% 13.00%
1y CMT 4.73% 13.00%
Prime Rate 7.75% 16.00%
6m CD 4.97% 13.00%
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
24
<PAGE> 25
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
Price/Yield Tables
The tables set forth hereafter show the corporate bond equivalent
yield, modified duration, weighted average life, principal window, the first
principal Distribution Date, as well as the final Distribution Date on which
principal or interest, as applicable, is to be paid with respect to the Classes
of Offered Certificates under various scenarios (all prepayment speeds being
inclusive of repurchase of any Mortgage Loans due to conversion) and for a
variety of purchase prices. Purchase prices are generally expressed in 32nds
(i.e. 9-12 means 9-12/32) as a percentage of the related aggregate principal
balance (the "Certificate Balance") of the relevant Class.
The yields set forth in the following tables were calculated by
determining the monthly discount rates which, when applied to the assumed stream
of cash flows to be paid on each Class of Offered Certificates, would cause the
discounted present value of such assumed stream of cash flows to equal the
assumed purchase prices, plus accrued interest at the applicable pass-through
rate from and including the Cut-Off Date but excluding the Delivery Date, and
converting such monthly rates to semi-annual corporate bond equivalent rates.
Assumed cash flows were determined based on actual loan terms, and the
assumptions as to prepayments, set forth on the following page, and to the
extent not inconsistent herewith, based on the Maturity Assumptions as defined
in the Preliminary Prospectus Supplement dated May 10, 1999 with respect to the
Offered Certificates. Such calculation does not take into account variations
that may occur in the interest rates at which investors may be able to reinvest
funds received by them as reductions of the Certificate Balances of the
respective Classes of Offered Certificates and consequently does not purport to
reflect the return on any investment in such Classes of Certificates when such
reinvestment rates are considered. For purposes of these tables, "modified
duration" has been calculated using Macaulay Duration. The Macaulay Duration is
calculated as the present value weighted average time to receive future payments
of principal and interest. Modified duration is calculated by dividing the
Macaulay Duration by the appropriate semi-annual compounding factor. The
duration of a security may be calculated according to various methodologies;
accordingly, no representation is made by the Depositor, the Underwriters or any
other person that the "modified duration" approach used herein is appropriate.
Duration, like yield, will be affected by the prepayment rate of the Mortgage
Loans and extensions in respect of Balloon Payments that actually occur during
the life of the Offered Certificates and by the actual performance of the
Mortgage Loans, all of which may differ, and may differ significantly, from the
assumptions used in preparing the tables below. The modified duration shown in
the following tables, in each case, relates to the yield shown immediately above
such modified duration number.
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
25
<PAGE> 26
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
Assumptions
<TABLE>
<CAPTION>
PREPAYMENT SCENARIOS SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
<S> <C> <C> <C> <C> <C>
FIXED RATE LOANS CPR 8% 10% 12% 14% 16%
ADJUSTABLE RATE LOANS CPR 12% 14% 16% 18% 20%
</TABLE>
<TABLE>
<CAPTION>
FIXED RATE BONDS VARIABLE RATE BONDS
<S> <C> <C>
SETTLEMENT DATE: 5/28/99 5/28/99
INTEREST ACCRUED FROM: 5/l/99 5/28/99
NEXT PAYMENT DATE: 6/10/99 6/10/99
</TABLE>
<TABLE>
<CAPTION>
TSY CURVE COLLATERAL INDICES
<S> <C> <C> <C>
Term (Years) Yield (BEY) 1m LIBOR 4.901%
0.5 4.681% 3m LIBOR 5.000%
1 4.788% 6m LIBOR 5.071%
2 5.180% 1y LIBOR 5.313%
5 5.362% 6m Treasury 4.681%
10 5.511% 1y CMT 4.730%
30 5.793% Prime Rate 7.750%
16m CD 4.970%
</TABLE>
OTHER
5% Cleanup Call is Not Exercised (Except for Class A-1V)
Prepay Rates are a Constant Percentage of CPR
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
26
<PAGE> 27
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-1
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 10.02 10.51 11.01 11.51 12.03
96-16 9.74 10.19 10.65 11.12 11.60
96-24 9.45 9.87 10.30 10.73 11.17
97-00 9.17 9.55 9.94 10.34 10.75
97-08 8.89 9.24 9.59 9.95 10.32
97-16 8.61 8.92 9.24 9.57 9.90
97-24 8.33 8.61 8.90 9.19 9.48
98-00 8.05 8.30 8.55 8.80 9.06
98-08 7.78 7.99 8.21 8.43 8.65
98-16 7.51 7.68 7.87 8.05 8.24
98-24 7.23 7.38 7.52 7.67 7.83
99-00 6.96 7.07 7.19 7.30 7.42
99-08 6.69 6.77 6.85 6.93 7.01
99-16 6.42 6.47 6.51 6.56 6.61
99-24 6.15 6.17 6.18 6.19 6.21
100-00 5.89 5.87 5.85 5.83 5.81
100-08 5.62 5.57 5.52 5.47 5.41
100-16 5.36 5.28 5.19 5.10 5.02
100-24 5.10 4.98 4.86 4.75 4.62
101-00 4.84 4.69 4.54 4.39 4.23
101-08 4.58 4.40 4.21 4.03 3.84
101-16 4.32 4.11 3.89 3.68 3.46
101-24 4.06 3.82 3.57 3.33 3.07
102-00 3.80 3.53 3.25 2.98 2.69
102-08 3.55 3.25 2.94 2.63 2.31
102-16 3.29 2.96 2.62 2.28 1.93
102-24 3.04 2.68 2.31 1.93 1.56
103-00 2.79 2.40 1.99 1.59 1.18
103-08 2.54 2.12 1.68 1.25 0.81
103-16 2.29 1.84 1.37 0.91 0.44
103-24 2.04 1.56 1.07 0.57 0.07
WAL 1.00 0.89 0.80 0.72 0.66
MOD DUR 0.94 0.84 0.75 0.68 0.63
FIRSTPRINPAY 6/10/99 6/10/99 6/10/99 6/10/99 6/10/99
MATURITY 7/10/01 4/10/01 2/10/01 12/10/00 10/10/00
PRIN WINDOW 26 23 21 19 17
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
27
<PAGE> 28
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-2
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 7.81 8.03 8.25 8.49 8.70
96-16 7.70 7.90 8.11 8.33 8.52
96-24 7.59 7.77 7.96 8.17 8.35
97-00 7.47 7.65 7.82 8.01 8.18
97-08 7.36 7.52 7.68 7.85 8.00
97-16 7.25 7.40 7.54 7.70 7.83
97-24 7.14 7.27 7.40 7.54 7.66
98-00 7.03 7.14 7.26 7.38 7.48
98-08 6.92 7.02 7.12 7.22 7.31
98-16 6.81 6.90 6.98 7.07 7.14
98-24 6.71 6.77 6.84 6.91 6.97
99-00 6.60 6.65 6.70 6.76 6.80
99-08 6.49 6.53 6.56 6.60 6.63
99-16 6.38 6.40 6.42 6.45 6.47
99-24 6.28 6.28 6.29 6.29 6.30
100-00 6.17 6.16 6.15 6.14 6.13
100-08 6.06 6.04 6.01 5.99 5.96
100-16 5.96 5.92 5.88 5.83 5.80
100-24 5.85 5.80 5.74 5.68 5.63
101-00 5.74 5.68 5.61 5.53 5.47
101-08 5.64 5.56 5.47 5.38 5.30
101-16 5.53 5.44 5.34 5.23 5.14
101-24 5.43 5.32 5.21 5.08 4.98
102-00 5.33 5.20 5.07 4.93 4.81
102-08 5.22 5.08 4.94 4.78 4.65
102-16 5.12 4.96 4.81 4.64 4.49
102-24 5.01 4.84 4.68 4.49 4.33
103-00 4.91 4.73 4.54 4.34 4.17
103-08 4.81 4.61 4.41 4.19 4.01
103-16 4.71 4.49 4.28 4.05 3.85
103-24 4.60 4.38 4.15 3.90 3.69
WAL 2.61 2.26 2.00 1.77 1.62
MOD DUR 2.33 2.05 1.82 1.63 1.49
FIRSTPRINPAY 7/10/01 4/10/01 2/10/01 12/10/00 10/10/00
MATURITY 11/10/02 5/10/02 12/10/01 6/10/01 4/10/01
PRIN WINDOW 17 14 11 7 7
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
28
<PAGE> 29
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-3
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 7.54 7.69 7.86 8.06 8.37
96-16 7.46 7.60 7.76 7.94 8.23
96-24 7.38 7.52 7.66 7.83 8.10
97-00 7.31 7.43 7.56 7.72 7.97
97-08 7.23 7.34 7.46 7.61 7.83
97-16 7.16 7.26 7.37 7.50 7.70
97-24 7.09 7.17 7.27 7.39 7.57
98-00 7.01 7.09 7.17 7.27 7.43
98-08 6.94 7.00 7.08 7.16 7.30
98-16 6.86 6.92 6.98 7.05 7.17
98-24 6.79 6.83 6.89 6.94 7.04
99-00 6.72 6.75 6.79 6.84 6.91
99-08 6.64 6.67 6.69 6.73 6.78
99-16 6.57 6.58 6.60 6.62 6.65
99-24 6.50 6.50 6.50 6.51 6.52
100-00 6.42 6.42 6.41 6.40 6.39
100-08 6.35 6.34 6.32 6.29 6.26
100-16 6.28 6.25 6.22 6.19 6.13
100-24 6.21 6.17 6.13 6.08 6.00
101-00 6.14 6.09 6.04 5.97 5.88
101-08 6.07 6.01 5.94 5.87 5.75
101-16 5.99 5.93 5.85 5.76 5.62
101-24 5.92 5.85 5.76 5.66 5.50
102-00 5.85 5.76 5.67 5.55 5.37
102-08 5.78 5.68 5.58 5.45 5.25
102-16 5.71 5.60 5.48 5.34 5.12
102-24 5.64 5.52 5.39 5.24 5.00
103-00 5.57 5.44 5.30 5.13 4.87
103-08 5.50 5.36 5.21 5.03 4.75
103-16 5.43 5.28 5.12 4.93 4.62
103-24 5.36 5.21 5.03 4.82 4.50
WAL 4.03 3.46 3.00 2.59 2.13
MOD DUR 3.44 3.01 2.64 2.31 1.93
FIRSTPRINPAY 11/10/02 5/10/02 12/10/01 6/10/01 4/10/01
MATURITY 2/10/04 5/10/03 11/10/02 6/10/02 2/10/02
PRIN WINDOW 16 13 12 13 11
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
29
<PAGE> 30
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-4
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 7.51 7.58 7.67 7.77 7.88
96-16 7.46 7.52 7.60 7.70 7.80
96-24 7.41 7.46 7.54 7.63 7.72
97-00 7.35 7.41 7.48 7.56 7.64
97-08 7.30 7.35 7.41 7.49 7.57
97-16 7.25 7.29 7.35 7.42 7.49
97-24 7.20 7.24 7.29 7.35 7.41
98-00 7.15 7.18 7.22 7.28 7.33
98-08 7.09 7.12 7.16 7.21 7.26
98-16 7.04 7.07 7.10 7.14 7.18
98-24 6.99 7.01 7.04 7.07 7.10
99-00 6.94 6.96 6.98 7.00 7.03
99-08 6.89 6.90 6.92 6.93 6.95
99-16 6.84 6.85 6.85 6.86 6.87
99-24 6.79 6.79 6.79 6.80 6.80
100-00 6.74 6.74 6.73 6.73 6.72
100-08 6.69 6.68 6.67 6.66 6.65
100-16 6.64 6.63 6.61 6.59 6.57
100-24 6.59 6.57 6.55 6.52 6.50
101-00 6.54 6.52 6.49 6.46 6.42
101-08 6.49 6.46 6.43 6.39 6.35
101-16 6.44 6.41 6.37 6.32 6.27
101-24 6.39 6.36 6.31 6.26 6.20
102-00 6.34 6.30 6.25 6.19 6.13
102-08 6.29 6.25 6.19 6.12 6.05
102-16 6.24 6.20 6.13 6.06 5.98
102-24 6.20 6.14 6.07 5.99 5.91
103-00 6.15 6.09 6.02 5.93 5.83
103-08 6.10 6.04 5.96 5.86 5.76
103-16 6.05 5.98 5.90 5.80 5.69
103-24 6.00 5.93 5.84 5.73 5.62
WAL 6.29 5.65 5.00 4.39 3.89
MOD DUR 4.95 4.53 4.09 3.66 3.30
FIRSTPRINPAY 2/10/04 5/10/03 11/10/02 6/10/02 2/10/02
MATURITY 11/10/06 6/10/06 2/10/06 4/10/05 9/10/04
PRIN WINDOW 34 38 40 35 32
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
30
<PAGE> 31
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-5
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 7.67 7.70 7.72 7.75 7.80
96-16 7.63 7.65 7.67 7.70 7.74
96-24 7.59 7.61 7.63 7.65 7.69
97-00 7.54 7.56 7.58 7.60 7.64
97-08 7.50 7.52 7.53 7.56 7.59
97-16 7.46 7.47 7.49 7.51 7.54
97-24 7.41 7.43 7.44 7.46 7.48
98-00 7.37 7.38 7.39 7.41 7.43
98-08 7.33 7.34 7.35 7.36 7.38
98-16 7.29 7.29 7.30 7.31 7.33
98-24 7.24 7.25 7.26 7.27 7.28
99-00 7.20 7.21 7.21 7.22 7.23
99-08 7.16 7.16 7.17 7.17 7.18
99-16 7.12 7.12 7.12 7.12 7.13
99-24 7.07 7.08 7.08 7.08 7.08
100-00 7.03 7.03 7.03 7.03 7.03
100-08 6.99 6.99 6.99 6.98 6.98
100-16 6.95 6.95 6.94 6.94 6.93
100-24 6.91 6.90 6.90 6.89 6.88
101-00 6.87 6.86 6.85 6.84 6.83
101-08 6.83 6.82 6.81 6.80 6.78
101-16 6.79 6.77 6.76 6.75 6.73
101-24 6.74 6.73 6.72 6.70 6.68
102-00 6.70 6.69 6.68 6.66 6.63
102-08 6.66 6.65 6.63 6.61 6.58
102-16 6.62 6.61 6.59 6.57 6.53
102-24 6.58 6.56 6.54 6.52 6.49
103-00 6.54 6.52 6.50 6.47 6.44
103-08 6.50 6.48 6.46 6.43 6.39
103-16 6.46 6.44 6.41 6.38 6.34
103-24 6.42 6.40 6.37 6.34 6.29
WAL 8.07 7.67 7.31 6.89 6.37
MOD DUR 5.96 5.74 5.53 5.29 4.96
FIRSTPRINPAY 11/10/06 6/10/06 2/10/06 4/10/05 9/10/04
MATURITY 2/10/08 10/10/07 5/10/07 1/10/07 8/10/06
PRIN WINDOW 16 17 16 22 24
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
31
<PAGE> 32
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-6
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 7.41 7.43 7.44 7.45 7.47
96-16 7.36 7.37 7.38 7.39 7.41
96-24 7.30 7.31 7.32 7.33 7.35
97-00 7.24 7.26 7.26 7.27 7.29
97-08 7.19 7.20 7.21 7.21 7.23
97-16 7.13 7.14 7.15 7.16 7.17
97-24 7.07 7.08 7.09 7.10 7.11
98-00 7.02 7.03 7.03 7.04 7.05
98-08 6.96 6.97 6.97 6.98 6.99
98-16 6.91 6.91 6.92 6.92 6.93
98-24 6.85 6.86 6.86 6.86 6.87
99-00 6.80 6.80 6.80 6.81 6.81
99-08 6.74 6.74 6.75 6.75 6.75
99-16 6.69 6.69 6.69 6.69 6.69
99-24 6.63 6.63 6.63 6.63 6.63
100-00 6.58 6.58 6.58 6.58 6.58
100-08 6.52 6.52 6.52 6.52 6.52
100-16 6.47 6.47 6.46 6.46 6.46
100-24 6.41 6.41 6.41 6.41 6.40
101-00 6.36 6.36 6.35 6.35 6.34
101-08 6.31 6.30 6.30 6.29 6.29
101-16 6.25 6.25 6.24 6.24 6.23
101-24 6.20 6.19 6.19 6.18 6.17
102-00 6.15 6.14 6.13 6.12 6.12
102-08 6.09 6.08 6.08 6.07 6.06
102-16 6.04 6.03 6.02 6.01 6.00
102-24 5.99 5.98 5.97 5.96 5.95
103-00 5.94 5.92 5.91 5.90 5.89
103-08 5.88 5.87 5.86 5.85 5.84
103-16 5.83 5.82 5.81 5.79 5.78
103-24 5.78 5.76 5.75 5.74 5.72
WAL 5.71 5.58 5.48 5.38 5.26
MOD DUR 4.57 4.49 4.43 4.36 4.28
FIRSTPRINPAY 7/10/01 7/10/01 7/10/01 9/10/01 11/10/01
MATURITY 12/10/07 8/10/07 4/10/07 10/10/06 6/10/06
PRIN WINDOW 78 74 70 62 56
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
32
<PAGE> 33
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: A-1V
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 6.72 6.79 6.87 6.95 7.04
96-16 6.63 6.70 6.77 6.85 6.93
96-24 6.54 6.61 6.67 6.75 6.82
97-00 6.45 6.51 6.58 6.64 6.71
97-08 6.37 6.42 6.48 6.54 6.60
97-16 6.28 6.33 6.38 6.44 6.49
97-24 6.20 6.24 6.29 6.33 6.38
98-00 6.11 6.15 6.19 6.23 6.28
98-08 6.02 6.06 6.09 6.13 6.17
98-16 5.94 5.97 6.00 6.03 6.06
98-24 5.85 5.88 5.90 5.93 5.96
99-00 5.77 5.79 5.81 5.83 5.85
99-08 5.69 5.70 5.72 5.73 5.75
99-16 5.60 5.61 5.62 5.63 5.64
99-24 5.52 5.52 5.53 5.54 5.54
100-00 5.44 5.44 5.44 5.44 5.44
100-08 5.35 5.35 5.34 5.34 5.33
100-16 5.27 5.26 5.25 5.24 5.23
100-24 5.19 5.18 5.16 5.15 5.13
101-00 5.11 5.09 5.07 5.05 5.03
101-08 5.03 5.00 4.98 4.95 4.93
101-16 4.95 4.92 4.89 4.86 4.83
101-24 4.86 4.83 4.80 4.76 4.73
102-00 4.78 4.75 4.71 4.67 4.63
102-08 4.70 4.66 4.62 4.58 4.53
102-16 4.63 4.58 4.53 4.48 4.43
102-24 4.55 4.50 4.44 4.39 4.33
103-00 4.47 4.41 4.35 4.30 4.23
103-08 4.39 4.33 4.27 4.20 4.14
103-16 4.31 4.25 4.18 4.11 4.04
103-24 4.23 4.16 4.09 4.02 3.94
WAL 3.54 3.32 3.13 2.95 2.78
MOD DUR 3.02 2.86 2.70 2.56 2.42
FIRSTPRINPAY 6/10/99 6/10/99 6/10/99 6/10/99 6/10/99
MATURITY 4/10/08 12/10/07 9/10/07 5/10/07 1/10/07
PRIN WINDOW 107 103 100 96 92
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
33
<PAGE> 34
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: B
<TABLE>
<CAPTION>
SCENARIO I SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 7.90 7.94 7.98 8.03 8.06
96-16 7.85 7.88 7.92 7.96 8.00
96-24 7.79 7.82 7.86 7.90 7.93
97-00 7.73 7.77 7.80 7.83 7.86
97-08 7.68 7.71 7.74 7.77 7.79
97-16 7.62 7.65 7.68 7.70 7.73
97-24 7.57 7.59 7.61 7.64 7.66
98-00 7.51 7.53 7.55 7.57 7.59
98-08 7.46 7.47 7.49 7.51 7.53
98-16 7.40 7.42 7.43 7.45 7.46
98-24 7.35 7.36 7.37 7.38 7.40
99-00 7.29 7.30 7.31 7.32 7.33
99-08 7.24 7.25 7.25 7.26 7.26
99-16 7.19 7.19 7.19 7.20 7.20
99-24 7.13 7.13 7.13 7.13 7.14
100-00 7.08 7.08 7.07 7.07 7.07
100-08 7.02 7.02 7.02 7.01 7.01
100-16 6.97 6.96 6.96 6.95 6.94
100-24 6.92 6.91 6.90 6.89 6.88
101-00 6.87 6.85 6.84 6.83 6.81
101-08 6.81 6.80 6.78 6.77 6.75
101-16 6.76 6.74 6.72 6.71 6.69
101-24 6.71 6.69 6.67 6.65 6.63
102-00 6.66 6.63 6.61 6.58 6.56
102-08 6.60 6.58 6.55 6.52 6.50
102-16 6.55 6.52 6.49 6.47 6.44
102-24 6.50 6.47 6.44 6.41 6.38
103-00 6.45 6.42 6.38 6.35 6.31
103-08 6.40 6.36 6.32 6.29 6.25
103-16 6.35 6.31 6.27 6.23 6.19
103-24 6.30 6.26 6.21 6.17 6.13
WAL 6.07 5.74 5.41 5.13 4.88
MOD DUR 4.64 4.43 4.21 4.02 3.86
FIRSTPRINPAY 11/10/01 8/10/01 7/10/01 7/10/01 8/10/01
MATURITY 7/10/08 4/10/08 1/10/08 9/10/07 5/10/07
PRIN WINDOW 81 81 79 75 70
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
34
<PAGE> 35
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: C
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 8.16 8.19 8.23 8.27 8.31
96-16 8.10 8.13 8.17 8.21 8.24
96-24 8.04 8.08 8.11 8.14 8.17
97-00 7.99 8.02 8.05 8.08 8.11
97-08 7.93 7.96 7.99 8.01 8.04
97-16 7.88 7.90 7.93 7.95 7.97
97-24 7.82 7.84 7.86 7.89 7.91
98-00 7.77 7.78 7.80 7.82 7.84
98-08 7.71 7.73 7.74 7.76 7.78
98-16 7.66 7.67 7.68 7.70 7.71
98-24 7.60 7.61 7.62 7.64 7.65
99-00 7.55 7.56 7.56 7.57 7.58
99-08 7.49 7.50 7.50 7.51 7.52
99-16 7.44 7.44 7.45 7.45 7.45
99-24 7.39 7.39 7.39 7.39 7.39
100-00 7.33 7.33 7.33 7.33 7.32
100-08 7.28 7.27 7.27 7.27 7.26
100-16 7.22 7.22 7.21 7.20 7.20
100-24 7.17 7.16 7.15 7.14 7.13
101-00 7.12 7.11 7.10 7.08 7.07
101-08 7.07 7.05 7.04 7.02 7.01
101-16 7.01 7.00 6.98 6.96 6.95
101-24 6.96 6.94 6.92 6.90 6.88
102-00 6.91 6.89 6.87 6.84 6.82
102-08 6.86 6.83 6.81 6.78 6.76
102-16 6.81 6.78 6.75 6.72 6.70
102-24 6.75 6.73 6.70 6.67 6.64
103-00 6.70 6.67 6.64 6.61 6.58
103-08 6.65 6.62 6.58 6.55 6.52
103-16 6.60 6.57 6.53 6.49 6.45
103-24 6.55 6.51 6.47 6.43 6.39
WAL 6.15 5.85 5.54 5.26 5.01
MOD DUR 4.64 4.44 4.24 4.06 3.90
FIRSTPRINPAY 11/10/01 8/10/01 7/10/01 7/10/01 8/10/01
MATURITY 9/10/08 7/10/08 5/10/08 2/10/08 9/10/07
PRIN WINDOW 83 84 83 80 74
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
solicitation would be illegal. This material is based on information that the
Underwriter considers reliable, but the Underwriter does not represent that it
is accurate or complete and it should not be relied upon as such. By accepting
this material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may
pertain to securities that ultimately are not sold. The information contained in
this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, the securities mentioned
therein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
35
<PAGE> 36
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-SL
CLASS A-1, A-2, A-3, A-4, A-5, A-6, A-1V, B, C, & D CERTIFICATES
$1,097,385,138 (APPROXIMATE)
BOND CLASS: D
<TABLE>
<CAPTION>
SCENARIO 1 SCENARIO 2 SCENARIO 3 SCENARIO 4 SCENARIO 5
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
96-08 9.24 9.27 9.31 9.34 9.38
96-16 9.18 9.21 9.24 9.28 9.31
96-24 9.12 9.15 9.18 9.21 9.24
97-00 9.06 9.09 9.12 9.14 9.17
97-08 9.00 9.03 9.05 9.08 9.10
97-16 8.95 8.97 8.99 9.01 9.04
97-24 8.89 8.91 8.93 8.95 8.97
98-00 8.83 8.85 8.87 8.89 8.90
98-08 8.78 8.79 8.81 8.82 8.84
98-16 8.72 8.73 8.74 8.76 8.77
98-24 8.66 8.67 8.68 8.69 8.70
99-00 8.61 8.61 8.62 8.63 8.64
99-08 8.55 8.56 8.56 8.57 8.57
99-16 8.50 8.50 8.50 8.50 8.51
99-24 8.44 8.44 8.44 8.44 8.44
100-00 8.39 8.38 8.38 8.38 8.38
100-08 8.33 8.33 8.32 8.32 8.31
100-16 8.28 8.27 8.26 8.26 8.25
100-24 8.22 8.21 8.20 8.19 8.18
101-00 8.17 8.16 8.14 8.13 8.12
101-08 8.11 8.10 8.08 8.07 8.06
101-16 8.06 8.04 8.03 8.01 7.99
101-24 8.00 7.99 7.97 7.95 7.93
102-00 7.95 7.93 7.91 7.89 7.87
102-08 7.90 7.87 7.85 7.83 7.81
102-16 7.84 7.82 7.79 7.77 7.74
102-24 7.79 7.76 7.74 7.71 7.68
103-00 7.74 7.71 7.68 7.65 7.62
103-08 7.68 7.65 7.62 7.59 7.56
103-16 7.63 7.60 7.56 7.53 7.50
103-24 7.58 7.54 7.51 7.47 7.43
WAL 6.21 5.93 5.65 5.39 5.16
MOD DUR 4.50 4.32 4.15 3.99 3.84
FIRSTPRINPAY 11/10/01 8/10/01 7/10/01 7/10/01 7/10/01
MATURITY 11/10/08 10/10/08 8/10/08 5/10/08 2/10/08
PRIN WINDOW 85 87 86 83 80
</TABLE>
This material is for your private information and NationsBanc Montgomery
Securities LLC (the "Underwriter") is not soliciting any action based upon it.
This material is not to be construed as an offer to sell or the solicitation of
any offer to buy any security in any jurisdiction where such an offer or
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this material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriter makes no representation regarding
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material should not be relied upon for such purposes. The Underwriter and its
affiliates, officers, directors, partners and employees, including persons
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have long or short positions in, and buy and sell, the securities mentioned
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under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities. The issuer of
the securities has not prepared, reviewed or participated in the preparation of
this material, is not responsible for the accuracy of this material and has not
authorized the dissemination of this material. The Underwriter is acting as
underwriter and not acting as agent for the issuer in connection with the
proposed transaction.
36
