<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: October 29, 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)
<TABLE>
<S> <C>
Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255
- -------------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
</TABLE>
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 Banc of America Securities
LLC (the "Underwriter"), the underwriter in respect of the Registrant's proposed
offering of Commercial Mortgage Pass-Through Certificates, Series 1999-2 (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shall be modified and superseded for purposes of the Prospectus and the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: October 29, 1999
<PAGE> 4
Exhibit Index
Item 601(a) of
Regulation S-K
Exhibit No. Description Page
99 Term Sheets
<PAGE> 1
EXHIBIT 99
TERM SHEETS
<PAGE> 2
CMBS NEW ISSUE TERM SHEET
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C and D
CERTIFICATES
$813,466,233 (APPROXIMATE)
October 27, 1999
This material is for your private information and Banc of America 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.
Banc of America Securities LLC [BANK OF AMERICA LOGO]
Banc of America Securities LLC, member NYSE/NASD/SIPC, is
a subsidiary of Bank of America Corporation
<PAGE> 3
NationsLink Funding Corporation
Commercial Mortgage Pass-Through Certificates
Series 1999-2
Class A-2, A-3, A-4, A-1C, A-2C, X, B, C and D Certificates
$813,466,233 (approximate)
Structure Overview
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------
OFFERED CERTIFICATES
EXPECTED RATINGS APPROX. APPROX.
------------------------- APPROX. % OF CREDIT AVERAGE
CLASS DCR S&P FITCH SIZE TOTAL SUPPORT LIFE (YRS)(1)
------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-2 AAA AAA AAA $ 84,648,789 7.59% 27.17% 3.15
A-3 AAA AAA AAA 232,000,439 20.80% 27.17% 5.70
A-4 AAA AAA AAA 110,485,256 9.91% 27.17% 8.07
A-1C AAA AAA AAA 103,960,279 9.32% 27.17% 5.50
A-2C AAA AAA AAA 114,048,463 10.23% 27.17% 8.59
X AAA AAAr AAA 1,115,186,747 -- -- 6.29(4)
B AA AA AA 56,107,669 5.03% 22.14% 8.90
C A A A 44,886,135 4.02% 18.11% 9.05
D BBB BBB BBB 67,329,203 6.04% 12.07% 9.14
<CAPTION>
ASSUMED
PRINCIPAL FINAL
CLASS WINDOW (MOS)(1) DISTRIBUTION DATE(1) COUPON
---------------------------------------------------------------------
<S> <C> <C> <C>
A-2 32 - 47 October 20, 2003 Fixed
A-3 47 - 85 December 20, 2006 Fixed(2)
A-4 85 - 107 October 20, 2008 WAC
A-1C 1 - 98 January 20, 2008 Fixed(2)
A-2C 98 - 107 October 20, 2008 Fixed(2)
X 1 - 162(4) May 20, 2013(4) VAR (IO)(3)
B 107 - 108 November 20, 2008 WAC
C 108 - 110 January 20, 2009 WAC
D 110 - 111 February 20, 2009 WAC
------------------------------------------------------------------------------------------------
NON-OFFERED CERTIFICATES
<CAPTION>
EXPECTED RATINGS APPROX. APPROX.
------------------------- APPROX. % OF CREDIT AVERAGE
CLASS DCR S&P FITCH SIZE TOTAL SUPPORT LIFE (YRS)(1)
------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 AAA AAA AAA $ 167,062,105 14.98% 27.17% 1.31
------------------------------------------------------------------------------------------------
E BBB- BBB- NR 16,832,300 1.51% 10.57% 9.22
------------------------------------------------------------------------------------------------
F NR BB NR 56,107,669 5.03% 5.53% 9.30
------------------------------------------------------------------------------------------------
G NR BB- NR 8,416,150 0.75% 4.78% 9.52
------------------------------------------------------------------------------------------------
H NR B NR 22,443,067 2.01% 2.77% 10.85
------------------------------------------------------------------------------------------------
J NR B- NR 2,805,383 0.25% 2.52% 11.22
------------------------------------------------------------------------------------------------
K NR NR NR 28,053,840 2.52% -- 13.06
------------------------------------------------------------------------------------------------
<CAPTION>
ASSUMED
PRINCIPAL FINAL
CLASS WINDOW (MOS)(1) DISTRIBUTION DATE(1) COUPON
---------------------------------------------------------------------
<S> <C> <C> <C>
A-1 1 - 32 July 20, 2002 Fixed
---------------------------------------------------------------------
E 111 - 111 February 20, 2009 Fixed
---------------------------------------------------------------------
F 111 - 114 May 20, 2009 Fixed
---------------------------------------------------------------------
G 114 - 119 October 20, 2009 Fixed
---------------------------------------------------------------------
H 119 - 135 February 20, 2011 Fixed
---------------------------------------------------------------------
J 135 - 135 February 20, 2011 Fixed
---------------------------------------------------------------------
K 135 - 171 February 20, 2014 Fixed
---------------------------------------------------------------------
</TABLE>
(1) As of the Cut-off Date, the Average Life, Principal Window and Assumed
Final Distribution Date were calculated assuming no prepayments on the
Mortgage Loans, except that 6% CPR was assumed in the case of the
Portfolio Mortgage Loans after the expiration of the applicable
Lock-Out Period, if any.
(2) Capped at the weighted average Net Mortgage Rate.
(3) The Class X Certificates will accrue interest on a Notional Amount
equal to 100% of the aggregate outstanding balance of the Classes of
Sequential Pay Certificates.
(4) As of the Cut-Off Date, the Average Life, Principal Window and Assumed
Final Distribution Date were calculated assuming no prepayments on the
Conduit Mortgage Loans through Lock-Out and Yield Maintenance, and
100% CPR thereafter. In the case of the Portfolio Mortgage Loans, 6%
CPR was assumed after the expiration of the applicable Lock-Out
Period, if any, through Yield Maintenance, and 100% CPR thereafter.
Class X was subject to a clean-up call.
This material is for your private information and Banc of America
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> 4
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C and D CERTIFICATES
$813,466,233
(APPROXIMATE)
STRUCTURE SCHEMATIC
<TABLE>
<CAPTION>
Conduit Portfolio
Mortgage Mortgage
Loans Loans
-------- --------
<S> <C> <C> <C>
X (AAA)
A-1C(AAA)(1) A-1(AAA)
A-2(AAA)
A-2C(AAA)(1) A-3(AAA)(1)
A-4(AAA)(1)
B(AA)(2)
C(A)(2)
D(BBB)(2)
Notional(3)
E(BBB-) *
F(BB) *
G(BB-) *
H(B) *
J(B-) *
K(UR) *
</TABLE>
[ ] Offered Certificates
[*] Non-Offered Certificates
1) The Pass-Through Rate for any Class A-3, Class A-1C and Class A-2C
Certificate on any Distribution Date will not exceed the weighted
average of the interest rates (net of the fee rates payable to the
Master Servicer, the Special Servicer and the Trustee) borne by the
mortgage loans. See "Description of the Certificates - Pass-Through
Rates" in the Prospectus Supplement.
2) The Pass-Through Rate for the Class A-4, Class B, Class C, and Class D
Certificates are equal to the weighted average of the interest rates
(net of the fee rates payable to the Master Servicer, the Special
Servicer and the Trustee) borne by the mortgage loans.
3) The Pass-Through Rate for the Class X Certificate for any Distribution
Date is variable and will, in general, equal the excess, if any, of
(a) the weighted average of the interest rates (net of the fee rates
payable to the Master Servicer, the Special Servicer and the Trustee)
borne by the mortgage loans, over (b) the weighted average of the
Pass-Through Rates for the Class A-1, Class A-2, Class A-3, Class A-4,
Class A-1C, Class A-2C, Class B, Class C, Class D, Class E, Class F,
Class G, Class H, Class J, and Class K Certificates for such
Distribution Date. See "Description of the Certificate - Pass-Through
Rates" in the Prospectus Supplement.
This material is for your private information and Banc of America 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> 5
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
TRANSACTION TERMS
NOTE: CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED HEREIN HAVE THE
MEANINGS ASCRIBED TO THEM IN THE PRELIMINARY PROSPECTUS SUPPLEMENT
DATED OCTOBER 1999.
<TABLE>
--------------------------------------------------------------------------------
<S> <C>
Issue Type Sequential pay REMIC. Class A-2, A-3, A-4, A-1C,
A-2C, X, B, C and D Certificates (the "Offered
Certificates") are offered publicly. All other
Certificates privately placed to qualified
institutional buyers or to accredited investors.
Cut-off Date Loan characteristics are based on balances as of the
Cut-off Date, November 10, 1999.
Mortgage Pool The Mortgage Pool consists of 154 Conduit Mortgage
Loans and 176 Portfolio Mortgage Loans (together,
the "Mortgage Loans") with an aggregate balance as
of the Cut-off Date of $1,115,186,748 (the "Initial
Pool Balance"), subject to a variance of plus or
minus 5%. The Mortgage Loans are secured by 353
properties (the "Mortgaged Properties") located
throughout 31 states.
DEPOSITOR NationsLink Funding Corporation, a Delaware
corporation
MORTGAGE LOAN SELLER Bank of America, N.A., the entity resulting
from the recent merger of Bank of America, N.A.
(formerly known as NationsBank, N.A.) and Bank
of America NT & SA. The Mortgage Pool will
include two groups of Mortgage Loans; a group
originated prior to the merger by Bank of
America NT & SA (the "Portfolio Mortgage
Loans") and a group originated prior to the
merger by the former NationsBank, N.A. or its
conduit participants.
UNDERWRITER Banc of America Securities LLC
TRUSTEE Norwest Bank Minnesota, National Association
MASTER/SPECIAL SERVICER ORIX Real Estate Capital Markets, LLC
RATING AGENCIES Duff and Phelps, Standard & Poor's and Fitch IBCA,
Inc.
DENOMINATIONS $10,000 minimum for Class A Certificates; $1,000,000
(notional) minimum for Class X Certificates; and
$100,000 minimum for all other Offered Certificates.
SETTLEMENT DATE On or about November 30, 1999
SETTLEMENT TERMS Book-entry through DTC for all Offered Certificates.
DISTRIBUTION DATE Generally, the 20th day of each month, commencing
with respect to the Offered Certificates in December
1999
INTEREST DISTRIBUTIONS Interest will be distributed on each Distribution
Date in sequential order of class desigations with
Classes A-1, A-2, A-3, A-4, A-1C and A-2C ranking
pari passu in entitlement to interest.
PRINCIPAL DISTRIBUTIONS Principal available from Loan Group 1
will be allocated sequentially on each Distribution
Date to A-1C, A-2C, A-1, A-2, A-3, A-4, B, C, D, E,
F, G, H, J and K. Principal available from Loan
Group 2 will be allocated sequentially on each
Distribution Date to A-1, A-2, A-3, A-4, A-1C, A-2C,
B, C, D, E, F, G, H, J and K. If the Certificate
Balances of the Class B through K Certificates are
reduced to zero, payments of principal to the Class
A-1, A-2, A-3, A-4, A-1C and A-2C Certificates will
be made pro rata.
</TABLE>
This material is for your private information and Banc of America 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> 6
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
TRANSACTION TERMS
<TABLE>
--------------------------------------------------------------------------------
<S> <C>
LOSSES
To be applied first to Class K until reduced to
zero, then to the next most subordinate Class, etc.
PREPAYMENT PREMIUMS The manner in which any prepayment premiums received
during a particular Collection Period will be
allocated to one or more of the classes of Offered
Certificates is described in the "Description of the
Certificates - Distributions - Distributions of
Prepayment Premiums" in the preliminary prospectus
supplement. See "Prepayment Premium Allocation" and
the example provided herein.
ADVANCES Subject to certain limitations, including, but not
limited to, a recoverability determination, the
Master Servicer will be required to advance certain
principal, interest and other expenses. In the event
that the Master Servicer fails to make such
advances, the Trustee will be required to do so.
APPRAISAL REDUCTIONS If a Mortgage Loan becomes more than 60 days
delinquent or Mortgage Loan becomes REO or the
Special Servicer materially modifies a Mortgage
Loan, the Special Servicer will obtain an appraisal
on the property. Advances of delinquent interest on
the most subordinate class will be reduced to the
extent of the interest on the Appraisal Reduction
Amount. The Appraisal Reduction Amount will
generally be equal to the difference between (a) the
scheduled balance of the Mortgage Loan plus any
unpaid advances outstanding and other amounts
payable with respect thereto and (b) an amount equal
to 90% of the appraised value of the property.
OPTIONAL CALL 1.0% clean-up call, at the option of the Master
Servicer or the majority holder of the Controlling
Class.
CONTROLLING CLASS The most subordinate Class of Sequential Pay
Certificates with outstanding Certificate Balance at
least equal to 25% of its initial Certificate
Balance (or, if no such Class satisfies such
criteria, the Class of Sequential Pay Certificates
with the largest outstanding Certificate Balance),
subject to rating agency constraints.
ERISA The Class A and Class X Certificates will be ERISA
eligible.
SMMEA The Class A, X and 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 Banc of America Securities LLC
Commercial Mortgage Sales & Trading
Ken Rivkin Bill Hale Geordie Walker
(704) 388-1597 (704) 388-9677 (Fax)
</TABLE>
This material is for your private information and Banc of America 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> 7
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
<TABLE>
<CAPTION>
MORTGAGE POOL CHARACTERISTICS ----------------------------------------------------------------
AS OF THE CUT-OFF DATE GENERAL CHARACTERISTICS
<S> <C>
Initial Pool Balance $1,115,186,748
Number of Mortgage Loans 330
Number of Mortgaged Properties 353
Average Cut-off Date Balance $3,379,354
Weighted Average Mortgage Rate 7.804%
Weighted Average Remaining Term to Maturity 93 months
Weighted Average Underwriting DSCR 1.38x
Weighted Average Cut-off Date LTV Ratio 67.4%
Weighted Average Remaining Lock-out Period 44 months
</TABLE>
[MAP]
Showing % of Initial Pool Balance Distribution per State
State Initial Pool Balance
----- --------------------
CA 35.8%
OR 5.0%
WA 10.4%
NV 10.6%
AZ 5.5%
TX 5.4%
FL 8.1%
NC 2.1%
VA 2.3%
NJ 2.3%
Other States: 12.5% of Initial Pool Balance (Alaska 0.6%)
<TABLE>
<CAPTION>
- -------------------------------------------------------------------
LOAN BALANCE PER UNIT / SF / BED / PAD / ROOM
<S> <C>
Multifamily Balance Per Unit $34,875.44
Retail Balance Per Square Foot 81.69
Industrial Balance Per Square Foot 36.79
Office Balance Per Square Foot 100.50
Health Care Balance Per Bed 44,376.02
Mobile Home Balance Per Pad 18,011.69
Mini Storage Balance Per Square Foot 32.60
Special Purpose Balance Per Square Foot 72.08
Hotel Balance Per Room 72,968.71
Mixed Use Balance Per Square Foot 35.26
</TABLE>
Mortgage Pool by Property Type
[PIE CHART]
Multifamily 32.1%
Retail 26.2%
Industrial 13.5%
Office 13.2%
Health Care 5.3%
Mobile Home 3.2%
Mini Storage 2.7%
Special Purpose 2.5%
Hotel 0.8%
Mixed Use 0.3%
This material is for your private information and Banc of America 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> 8
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
PROPERTY LOCATION - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGED MORTGAGED CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
STATE/COUNTY PROPERTIES PROPERTIES BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CA 132 37.4% $ 399,756,342 35.8% 1.37x 64.8% 8.127%
Los Angeles 37 10.5 96,108,911 8.6 1.41 63.7 8.087
Sacramento 8 2.3 53,198,189 4.8 1.25 69.3 7.576
Orange 21 5.9 48,070,771 4.3 1.48 60.7 8.317
Riverside 7 2.0 27,763,374 2.5 1.30 67.5 8.214
Santa Clara 7 2.0 26,298,703 2.4 1.26 64.5 8.886
Ventura 5 1.4 25,626,776 2.3 1.47 62.0 8.649
San Diego 8 2.3 21,365,130 1.9 1.33 64.8 8.709
Alameda 8 2.3 15,475,879 1.4 1.34 66.9 7.785
Contra Costa 4 1.1 14,289,842 1.3 1.19 71.7 7.493
San Luis Obispo 1 0.3 10,803,864 1.0 1.19 74.5 7.500
Other Counties 26 7.4 60,754,904 5.4 1.44 61.9 8.079
NV 27 7.6 118,634,985 10.6 1.32 68.4 7.723
WA 37 10.5 116,180,280 10.4 1.53 64.9 8.087
FL 16 4.5 89,820,903 8.1 1.28 73.1 7.223
AZ 27 7.6 60,790,914 5.5 1.50 67.2 7.692
TX 14 4.0 59,718,065 5.4 1.36 66.9 7.070
OR 15 4.2 55,278,972 5.0 1.33 66.7 8.050
VA 8 2.3 26,193,949 2.3 1.36 71.5 7.713
NJ 7 2.0 25,979,179 2.3 1.32 69.4 7.681
NC 6 1.7 23,941,967 2.1 1.29 79.5 7.265
Other States 64 18.1 138,891,190 12.5 1.43 69.7 7.484
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 353 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual
Debt Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value. (The Mortgaged Properties are located throughout 31
states.)
This material is for your private information and Banc of America 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> 9
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
PROPERTY TYPE - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE MIN/MAX AVERAGE MIN/MAX AVERAGE
MORTGAGED MORTGAGED CUT-OFF DATE INITIAL POOL UNDERWRITING UNDERWRITING CUT-OFF DATE CUT-OFF DATE MORTGAGE
PROPERTY TYPE PROPERTIES PROPERTIES BALANCE BALANCE DSCR (1) DSCR (1) LTV RATIO (2) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Multifamily 110 31.2% $358,476,019 32.1% 1.40x 1.10 / 4.88 68.0% 21.9 / 79.8 7.539%
Retail 80 22.7 292,716,561 26.2 1.31 1.12 / 2.32 70.3 30.7 / 82.0 7.734
Industrial 63 17.8 150,966,724 13.5 1.39 1.11 / 2.83 64.7 22.4 / 80.6 8.092
Office 42 11.9 147,560,008 13.2 1.32 1.11 / 1.81 69.3 24.0 / 82.0 7.696
Health Care 13 3.7 59,342,777 5.3 1.59 1.15 / 4.61 63.0 41.9 / 73.7 8.482
Mobile Home 13 3.7 35,631,889 3.2 1.42 1.20 / 2.95 63.1 24.7 / 72.4 7.840
Mini Storage 19 5.4 30,148,455 2.7 1.62 1.26 / 2.00 58.3 29.5 / 75.5 8.257
Special Purpose 10 2.8 28,027,440 2.5 1.33 1.11 / 1.68 60.9 45.8 / 70.7 8.420
Hotel 2 0.6 8,540,909 0.8 1.62 1.55 / 1.81 54.9 53.3 / 59.1 8.945
Mixed Use 1 0.3 3,775,967 0.3 1.45 1.45 / 1.45 69.9 69.9 / 69.9 9.375
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 353 100.0% $1,115,186,748 100.0% 1.38X 1.10 / 4.88 67.4% 21.9 / 82.0 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE BALANCE - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
CUT-OFF DATE BALANCE LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
$317,179 - $999,999 32 9.7% $ 24,353,436 2.2% 1.45x 66.5% 7.759%
$1,000,000 - $1,999,999 101 30.6 166,731,110 15.0 1.55 62.5 8.010
$2,000,000 - $2,999,999 76 23.0 189,680,353 17.0 1.40 65.2 7.815
$3,000,000 - $3,999,999 43 13.0 148,473,817 13.3 1.40 64.9 8.040
$4,000,000 - $4,999,999 26 7.9 115,028,417 10.3 1.36 69.7 7.776
$5,000,000 - $7,499,999 25 7.6 148,055,631 13.3 1.33 66.4 8.115
$7,500,000 - $9,999,999 12 3.6 102,622,821 9.2 1.33 69.3 7.726
$10,000,000 - $14,999,999 11 3.3 126,269,977 11.3 1.32 71.8 7.536
$20,000,000 - $25,919,852 4 1.2 93,971,185 8.4 1.24 75.4 7.050
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 330 100.0% $1,115,186,748 100.0% 1.38x 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - (THE AVERAGE CUT-OFF DATE BALANCE IS $3,379,354.)
This material is for your private information and Banc of America 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> 10
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------
MORTGAGE RATE - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
MORTGAGE RATE LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6.348% - 6.499% 2 0.6% $ 4,864,366 0.4% 1.30x 79.1% 6.390%
6.500% - 6.999% 29 8.8 133,479,507 12.0 1.36 73.1 6.791
7.000% - 7.249% 32 9.7 143,312,515 12.9 1.30 73.5 7.127
7.250% - 7.499% 42 12.7 169,885,396 15.2 1.36 71.1 7.320
7.500% - 7.749% 37 11.2 121,197,567 10.9 1.33 67.8 7.592
7.750% - 7.999% 45 13.6 134,991,710 12.1 1.43 65.0 7.869
8.000% - 8.499% 61 18.5 162,292,314 14.6 1.45 63.7 8.184
8.500% - 8.999% 57 17.3 162,449,988 14.6 1.45 62.4 8.648
9.000% - 9.499% 15 4.5 48,634,793 4.4 1.33 62.5 9.148
9.500% - 9.999% 6 1.8 18,858,888 1.7 1.40 55.5 9.772
10.000% - 10.375% 4 1.2 15,219,703 1.4 1.38 55.6 10.270
- ----------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE MORTGAGE RATE IS 7.804%.
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
UNDERWRITING DEBT SERVICE COVERAGE RATIO - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
DEBT SERVICE COVERAGE RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1.10x - 1.19x 29 8.8% $ 87,982,085 7.9% 1.15x 65.8% 8.395%
1.20x - 1.24x 36 10.9 196,698,985 17.6 1.22 70.3 7.677
1.25x - 1.29x 74 22.4 260,634,848 23.4 1.27 72.6 7.558
1.30x - 1.34x 48 14.5 164,293,679 14.7 1.32 69.8 7.633
1.35x - 1.39x 30 9.1 89,292,897 8.0 1.37 65.9 7.975
1.40x - 1.49x 37 11.2 115,674,650 10.4 1.44 66.3 7.607
1.50x - 1.59x 25 7.6 76,088,188 6.8 1.54 63.7 8.013
1.60x - 1.69x 15 4.5 46,771,388 4.2 1.63 59.0 8.587
1.70x - 1.79x 8 2.4 22,666,768 2.0 1.73 58.9 7.884
1.80x - 1.89x 6 1.8 10,328,073 0.9 1.82 54.2 8.267
1.90x - 1.99x 6 1.8 10,904,017 1.0 1.95 56.2 8.294
2.00x - 2.99x 13 3.9 28,285,400 2.5 2.42 44.4 8.119
3.00x - 4.88x 3 0.9 5,565,769 0.5 4.28 36.9 7.801
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE UNDERWRITING DEBT SERVICE COVERAGE RATIO IS 1.38X.
This material is for your private information and Banc of America 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> 11
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
ASSUMED DEBT SERVICE COVERAGE RATIO - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL ASSUMED UT-OFF DATE MORTGAGE
DEBT SERVICE COVERAGE RATIO LOANS LOANS BALANCE BALANCE DSCR (1) TV RATIO (2) RATE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1.12x - 1.19x 19 5.8% $ 101,110,797 9.1% 1.16x 72.9% 6.903%
1.20x - 1.24x 18 5.5 123,090,241 11.0 1.22 76.4 7.162
1.25x - 1.29x 25 7.6 93,655,151 8.4 1.27 75.5 7.312
1.30x - 1.34x 32 9.7 101,586,895 9.1 1.32 74.2 7.420
1.35x - 1.39x 31 9.4 86,388,551 7.7 1.37 68.2 7.682
1.40x - 1.49x 55 16.7 177,471,967 15.9 1.44 67.4 7.880
1.50x - 1.59x 33 10.0 104,553,432 9.4 1.54 67.6 8.290
1.60x - 1.69x 19 5.8 53,992,490 4.8 1.64 63.5 8.109
1.70x - 1.79x 22 6.7 62,091,710 5.6 1.74 63.3 8.269
1.80x - 1.89x 15 4.5 52,938,475 4.7 1.85 61.9 8.656
1.90x - 1.99x 13 3.9 41,276,601 3.7 1.93 61.5 8.226
2.00x - 2.99x 34 10.3 89,260,099 8.0 2.33 51.8 8.724
3.00x - 5.88x 14 4.2 27,770,339 2.5 3.94 38.2 8.237
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.57X 67.4% 7.804%
</TABLE>
(1) Assumed DSCR is the ratio of the Underwriting Cash Flow to a Debt Service
payment based on an 8.5% constant.
(2) Cut-off Date LTV means the Cut-off Date
Balance divided by the Appraisal Value.
- - THE WEIGHTED AVERAGE ASSUMED DEBT SERVICE COVERAGE RATIO IS 1.57X.
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE LOAN-TO-VALUE RATIO - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
CUT-OFF DATE LTV RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
21.87% - 29.9% 6 1.8% $ 8,139,301 0.7% 2.65x 24.1% 7.684%
30.0% - 49.9% 28 8.5 62,679,760 5.6 1.85 41.7 8.591
50.0% - 59.9% 41 12.4 110,798,975 9.9 1.51 55.5 8.347
60.0% - 64.9% 51 15.5 179,668,921 16.1 1.42 62.9 8.032
65.0% - 69.9% 77 23.3 236,531,721 21.2 1.31 67.4 8.057
70.0% - 74.9% 72 21.8 281,030,489 25.2 1.30 72.7 7.546
75.0% - 79.9% 51 15.5 218,260,017 19.6 1.29 78.0 7.203
80.0% - 82.03% 4 1.2 18,077,564 1.6 1.24 81.6 7.509
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE CUT-OFF DATE LTV RATIO IS 67.4%.
This material is for your private information and Banc of America 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> 12
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
MATURITY DATE LOAN-TO-VALUE RATIO - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING MATURITY DATE MORTGAGE
MATURITY DATE LTV RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
0.00% - 24.9% 26 7.9% $ 59,641,642 5.3% 1.51x 2.9% 8.284%
25.0% - 49.9% 60 18.2 153,645,114 13.8 1.63 39.3 8.225
50.0% - 59.9% 97 29.4 341,314,418 30.6 1.37 56.0 7.980
60.0% - 64.9% 68 20.6 237,777,181 21.3 1.32 62.1 7.810
65.0% - 69.9% 62 18.8 248,906,533 22.3 1.31 67.0 7.268
70.0% - 74.9% 13 3.9 60,661,574 5.4 1.27 71.0 7.457
75.0% - 80.40% 4 1.2 13,240,284 1.2 1.31 76.7 7.804
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0 $1,115,186,748 100.0% 1.38X 55.7% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Maturity Date LTV means the Maturity Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE MATURITY DATE LTV RATIO IS 55.7%.
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------
ORIGINAL TERM TO MATURITY - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINAL TERM TO MATURITY LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 months 5 1.5% $ 18,020,477 1.6% 1.49x 69.3% 8.296%
61 - 83 months 3 0.9 8,288,826 0.7 1.60 57.9 8.069
84 months 31 9.4 83,029,009 7.4 1.42 63.4 8.385
85 - 99 months 3 0.9 10,482,413 0.9 1.36 60.4 8.330
100 - 119 months 14 4.2 48,626,087 4.4 1.57 64.4 7.799
120 months 227 68.8 774,209,133 69.4 1.36 68.8 7.662
121 - 139 months 10 3.0 39,107,409 3.5 1.50 63.5 8.608
140 - 179 months 9 2.7 54,310,064 4.9 1.33 72.2 7.492
180 months 26 7.9 75,936,820 6.8 1.33 60.0 8.185
240 months 1 0.3 1,551,460 0.1 1.36 59.9 7.400
355 months 1 0.3 1,625,049 0.1 1.81 24.0 8.625
- -------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE ORIGINAL TERM TO MATURITY IS 122 MONTHS.
This material is for your private information and Banc of America 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> 13
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------
ORIGINAL AMORTIZATION TERM - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINAL AMORTIZATION TERM LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
96 - 179 months 3 0.9% $ 7,160,808 0.6% 1.24x 39.7% 8.022%
180 months 19 5.8 45,415,425 4.1 1.31 53.8 8.426
181 - 239 months 2 0.6 9,378,344 0.8 1.59 61.0 7.598
240 months 42 12.7 122,035,425 10.9 1.56 57.6 8.493
241 - 299 months 4 1.2 17,155,224 1.5 1.34 70.2 7.394
300 months 134 40.6 436,498,983 39.1 1.39 66.5 8.071
301 - 359 months 4 1.2 18,210,664 1.6 1.38 61.8 8.056
360 months 122 37.0 459,331,874 41.2 1.33 72.9 7.313
- ----------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- THE WEIGHTED AVERAGE ORIGINAL AMORTIZATION TERM IS 312 MONTHS.
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
REMAINING TERM TO MATURITY - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
REMAINING TERM TO MATURITY LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
3 - 19 months 12 3.6% $ 32,237,481 2.9% 1.58x 62.4% 8.525%
20 - 39 months 25 7.6 73,107,125 6.6 1.38 63.9 8.419
40 - 59 months 13 3.9 37,320,229 3.3 1.41 59.7 8.058
60 - 79 months 56 17.0 209,352,534 18.8 1.37 63.1 8.319
80 - 99 months 52 15.8 180,107,901 16.2 1.47 66.5 8.087
100 - 109 months 76 23.0 285,382,517 25.6 1.34 71.9 7.136
110 - 119 months 66 20.0 189,195,929 17.0 1.39 70.8 7.582
120 - 139 months 5 1.5 43,236,604 3.9 1.24 70.9 7.776
140 - 159 months 9 2.7 27,170,094 2.4 1.30 58.2 8.302
160 - 171 months 16 4.8 38,076,335 3.4 1.39 65.4 7.399
- -------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- THE WEIGHTED AVERAGE REMAINING TERM TO MATURITY IS 93 MONTHS.
This material is for your private information and Banc of America 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> 14
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
REMAINING STATED AMORTIZATION TERMS - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
REMAINING STATED AMORTIZATION TERM LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
33 - 149 months 13 3.9% $ 36,040,203 3.2% 1.31x 48.5% 8.624%
150 - 174 months 14 4.2 25,436,856 2.3 1.41 55.5 8.154
175 - 199 months 17 5.2 66,798,427 6.0 1.50 57.2 8.755
200 - 224 months 16 4.8 37,793,628 3.4 1.78 55.3 8.364
225 - 249 months 39 11.8 118,373,825 10.6 1.35 63.7 8.385
250 - 274 months 54 16.4 195,525,285 17.5 1.40 66.5 8.117
275 - 299 months 56 17.0 174,744,276 15.7 1.38 68.3 7.697
300 - 324 months 11 3.3 46,876,661 4.2 1.38 70.6 7.932
325 - 349 months 68 20.6 274,894,435 24.7 1.32 72.8 7.150
350 - 354 months 42 12.7 138,703,152 12.4 1.36 74.2 7.371
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE REMAINING STATED AMORTIZATION TERM IS 283 MONTHS.
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------
SEASONING - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
SEASONING LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6 - 12 months 95 28.8% $ 295,124,237 26.5% 1.35x 71.6% 7.432%
13 - 24 months 86 26.1 320,860,119 28.8 1.35 71.0 7.245
25 - 36 months 37 11.2 108,741,172 9.8 1.57 60.9 8.388
37 - 48 months 49 14.8 178,996,098 16.1 1.38 65.0 8.021
49 - 60 months 35 10.6 140,451,903 12.6 1.35 63.2 8.671
61 - 72 months 20 6.1 53,361,078 4.8 1.45 57.6 8.739
73 - 84 months 5 1.5 12,283,307 1.1 1.45 62.2 8.679
85 - 120 months 1 0.3 2,192,324 0.2 1.10 65.9 8.875
121 - 160 months 1 0.3 1,551,460 0.1 1.36 59.9 8.400
161 - 296 months 1 0.3 1,625,049 0.1 1.81 24.0 8.625
- ------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- - THE WEIGHTED AVERAGE LOAN AGE IS 29 MONTHS.
This material is for your private information and Banc of America 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> 15
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT PROVISIONS SUMMARY - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
PREPAYMENT PROVISIONS LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield Maintenance 155 47.0% $ 528,303,321 47.4% 1.39x 63.2% 8.182%
Lockout/Open (3) 134 40.6 414,356,761 37.2 1.34 72.8 7.275
Lockout/Yield Maintenance/Open 17 5.2 89,546,291 8.0 1.39 68.0 7.783
Open/Yield Maintenance (4) 8 2.4 26,169,505 2.3 1.41 66.8 8.560
Lockout/Yield Maintenance/Open (3) 5 1.5 24,226,908 2.2 1.28 75.9 7.107
Yield Maintenance/Open 4 1.2 19,038,215 1.7 1.98 59.0 8.566
Lockout/Yield Maint./Decl. Penalty/Open 2 0.6 5,612,530 0.5 1.30 76.9 7.301
Open/Lockout/Yield Maintenance/Open(4) 1 0.3 2,192,324 0.2 1.10 65.9 8.875
Partial Open/Declining Penalty (4) 1 0.3 1,625,049 0.1 1.81 24.0 8.625
Lockout/Yield Maintenance 1 0.3 1,554,183 0.1 1.77 56.5 9.000
Yield Maintenance (5) 1 0.3 1,551,460 0.1 1.36 59.9 8.400
Open 1 0.3 1,010,199 0.1 1.69 29.5 8.510
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
(3) These loans are subject to a Defeasance option.
(4) These loans are past their initial Open period.
(5) This loan is in the final Yield Maintenance period.
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
YEAR OF ORIGINATION - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
YEAR LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1974 1 0.3% $ 1,625,049 0.1% 1.81x 24.0% 8.625%
1987 1 0.3 1,551,460 0.1 1.36 59.9 8.400
1990 1 0.3 2,192,324 0.2 1.10 65.9 8.875
1992 1 0.3 3,594,687 0.3 1.23 70.5 9.130
1993 5 1.5 10,507,426 0.9 1.55 58.3 8.494
1994 28 8.5 92,580,079 8.3 1.38 58.4 8.949
1995 49 14.8 190,279,903 17.1 1.35 65.8 8.161
1996 38 11.5 124,883,502 11.2 1.46 63.2 8.314
1997 41 12.4 143,844,499 12.9 1.48 64.5 8.033
1998 122 37.0 411,380,996 36.9 1.34 71.4 7.204
1999 43 13.0 132,746,822 11.9 1.37 71.9 7.503
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 330 100.0% $1,115,186,748 100.0% 1.38X 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
This material is for your private information and Banc of America 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> 16
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
YEAR OF MATURITY - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
YEAR LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
2000 5 1.5% $ 13,867,509 1.2% 1.48x 66.2% 8.300%
2001 14 4.2 40,222,938 3.6 1.52 60.8 8.757
2002 15 4.5 41,000,020 3.7 1.37 62.6 8.302
2003 6 1.8 17,176,566 1.5 1.45 66.4 8.241
2004 13 3.9 42,745,949 3.8 1.35 61.8 8.238
2005 25 7.6 101,602,444 9.1 1.36 63.1 8.390
2006 43 13.0 150,637,284 13.5 1.38 64.9 8.208
2007 28 8.5 85,928,384 7.7 1.57 64.8 8.137
2008 85 25.8 324,326,692 29.1 1.34 71.4 7.203
2009 67 20.3 199,846,229 17.9 1.38 70.5 7.659
2010 3 0.9 8,257,835 0.7 1.28 55.2 8.312
2011 3 0.9 30,364,184 2.7 1.26 74.5 7.267
2012 6 1.8 19,387,773 1.7 1.22 59.6 8.295
2013 11 3.3 24,660,253 2.2 1.45 64.3 7.523
2014 6 1.8 15,162,688 1.4 1.32 64.7 7.359
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 330 100.0% $1,115,186,748 100.0% 1.38x 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
MORTGAGE LOAN ORIGINATOR/SUB-SERVICER - ALL LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINATOR/SUB-SERVICER LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Bank of America (3) 296 89.7% $ 953,625,243 85.5% 1.39x 66.4% 7.884%
Berkshire Mortgage Finance 11 3.3 54,900,383 4.9 1.39 71.1 7.317
Patrician Financial Company 7 2.1 36,013,750 3.2 1.32 72.0 7.540
L.J. Melody & Company 3 0.9 28,894,789 2.6 1.23 77.2 7.107
Washington Mortgage Financial Group 6 1.8 19,467,813 1.7 1.29 74.2 7.448
Bankers Mutual Mortgage Inc 2 0.6 11,453,319 1.0 1.23 72.7 7.252
ARCS Commercial 3 0.9 5,711,241 0.5 1.31 75.2 7.412
First Security Bank, N.A 2 0.6 5,120,209 0.5 1.28 71.1 6.955
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 330 100.0% $1,115,186,748 100.0% 1.38x 67.4% 7.804%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
(3) Bank of America includes loans originated by both NationsBank, N.A. and
Bank of America, NT&SA.
This material is for your private information and Banc of America 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> 17
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
PROPERTY LOCATION - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGED MORTGAGED CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
STATE/COUNTY PROPERTIES PROPERTIES BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CA 40 23.8% $ 98,333,613 18.9% 1.33x 71.0% 7.214%
Los Angeles 14 8.3 26,662,431 5.1 1.39 70.3 7.078
Sacramento 1 0.6 24,328,468 4.7 1.21 78.5 7.040
Orange 6 3.6 11,399,663 2.2 1.45 61.4 7.534
Contra Costa 1 0.6 10,406,468 2.0 1.20 74.3 7.125
San Diego 4 2.4 8,938,280 1.7 1.30 72.0 7.338
Santa Barbara 1 0.6 2,464,700 0.5 1.25 67.5 7.620
San Mateo 1 0.6 2,305,642 0.4 1.57 57.6 7.460
San Bernardino 2 1.2 1,979,071 0.4 1.67 63.2 7.234
Santa Clara 1 0.6 1,966,902 0.4 1.41 66.7 6.598
Alameda 2 1.2 1,740,913 0.3 1.33 66.8 7.543
Other Counties 7 4.2 6,141,075 1.2 1.35 67.3 7.713
FL 16 9.5 89,820,903 17.2 1.28 73.1 7.223
NV 10 6.0 60,828,901 11.7 1.31 74.8 7.354
AZ 15 8.9 30,171,244 5.8 1.56 70.8 7.197
TX 11 6.5 26,419,779 5.1 1.42 66.9 7.316
VA 8 4.8 26,193,949 5.0 1.36 71.5 7.713
NJ 7 4.2 25,979,179 5.0 1.32 69.4 7.681
NC 6 3.6 23,941,967 4.6 1.29 79.5 7.265
WA 3 1.8 19,793,196 3.8 1.40 74.4 6.961
IL 9 5.4 19,457,897 3.7 1.31 77.8 6.928
Other States 43 25.6 100,049,529 19.2 1.34 72.7 7.505
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 168 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE MORTGAGED PROPERTIES ARE LOCATED THROUGHOUT 27 STATES.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
PROPERTY TYPE - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE MIN/MAX AVERAGE MIN/MAX AVERAGE
MORTGAGED MORTGAGED CUT-OFF DATE INITIAL POOL UNDERWRITING UNDERWRITING CUT-OFF DATE CUT-OFF DATE MORTGAGE
PROPERTY TYPE PROPERTIES PROPERTIES BALANCE BALANCE DSCR(1) DSCR(1) LTV RATIO(2) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Retail 54 32.1% $181,337,153 34.8% 1.32x 1.20/1.70 73.2% 45.6/82.0 7.329%
Multifamily 58 34.5 177,867,850 34.1 1.38 1.21/4.88 73.2 21.9/79.7 7.184
Office 21 12.5 79,265,739 15.2 1.27 1.20/1.58 74.2 51.8/79.3 7.128
Industrial 18 10.7 41,824,190 8.0 1.33 1.22/1.50 70.4 50.5/79.1 7.377
Health Care 6 3.6 29,172,426 5.6 1.38 1.29/1.61 66.8 41.9/73.7 8.413
Mini Storage 10 6.0 10,561,586 2.0 1.45 1.26/1.85 68.5 58.2/75.5 7.722
Mobile Home 1 0.6 961,214 0.2 1.31 1.31/1.31 67.2 67.2/67.2 8.000
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 168 100.0% $520,990,158 100.0% 1.34x 1.20/4.88 72.6% 21.9/82.0 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
This material is for your private information and Banc of America 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> 18
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE BALANCE - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
CUT-OFF DATE BALANCE LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
$317,179 - $999,999 32 20.8% $ 24,353,436 4.7% 1.45x 66.5% 7.759%
$1,000,000 - $1,999,999 41 26.6 64,725,660 12.4 1.49 68.9 7.430
$2,000,000 - $2,999,999 33 21.4 82,620,095 15.9 1.31 72.0 7.227
$3,000,000 - $3,999,999 9 5.8 31,785,236 6.1 1.35 72.3 7.413
$4,000,000 - $4,999,999 12 7.8 53,465,745 10.3 1.31 73.5 7.368
$5,000,000 - $7,499,999 12 7.8 69,245,895 13.3 1.31 72.3 7.391
$7,500,000 - $9,999,999 5 3.2 44,599,065 8.6 1.29 76.8 7.291
$10,000,000 - $14,999,999 7 4.5 82,143,693 15.8 1.36 71.7 7.221
$20,000,000 - $24,328,468 3 1.9 68,051,333 13.1 1.26 77.4 7.176
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE AVERAGE CUT-OFF DATE BALANCE IS $3,383,053.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
MORTGAGE RATE - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
MORTGAGE RATE LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6.348% - 6.499% 2 1.3% $ 4,864,366 0.9% 1.30x 79.1% 6.390%
6.500% - 6.999% 28 18.2 107,559,655 20.6 1.39 73.8 6.807
7.000% - 7.249% 27 17.5 131,145,658 25.2 1.30 74.6 7.118
7.250% - 7.499% 31 20.1 130,404,140 25.0 1.33 72.8 7.307
7.500% - 7.749% 19 12.3 53,650,755 10.3 1.32 70.2 7.594
7.750% - 7.999% 17 11.0 42,337,484 8.1 1.34 71.9 7.859
8.000% - 8.499% 24 15.6 28,788,373 5.5 1.37 68.3 8.097
8.500% - 8.960% 6 3.9 22,239,727 4.3 1.39 65.9 8.637
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE MORTGAGE RATE IS 7.323%.
This material is for your private information and Banc of America 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> 19
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
UNDERWRITING DEBT SERVICE COVERAGE RATIO - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
DEBT SERVICE COVERAGE RATIO LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1.20x - 1.24x 8 5.2% $ 62,736,674 12.0% 1.21x 76.9% 7.157%
1.25x - 1.29x 54 35.1 191,191,281 36.7 1.26 74.5 7.295
1.30x - 1.34x 35 22.7 113,341,545 21.8 1.32 72.9 7.420
1.35x - 1.39x 17 11.0 50,983,530 9.8 1.36 71.8 7.371
1.40x - 1.49x 18 11.7 64,986,011 12.5 1.44 69.9 7.240
1.50x - 1.59x 10 6.5 17,581,699 3.4 1.53 65.5 7.380
1.60x - 1.69x 3 1.9 6,959,820 1.3 1.62 65.8 8.231
1.70x - 1.79x 3 1.9 4,994,884 1.0 1.71 58.7 7.500
1.80x - 1.89x 3 1.9 3,872,436 0.7 1.81 57.1 7.419
2.00x - 2.99x 2 1.3 2,354,440 0.5 2.15 57.5 7.356
3.00x - 4.88x 1 0.6 1,987,838 0.4 4.88 21.9 6.744
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE UNDERWRITING DEBT SERVICE COVERAGE RATIO IS 1.34X.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE LOAN-TO-VALUE RATIO - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
CUT-OFF DATE LTV RATIO LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
21.87% - 29.9% 2 1.3% $ 2,472,594 0.5% 4.32x 22.7% 6.922%
30.0% - 49.9% 4 2.6 3,731,271 0.7 1.52 44.2 8.321
50.0% - 59.9% 9 5.8 10,995,914 2.1 1.61 55.1 7.389
60.0% - 64.9% 14 9.1 49,300,822 9.5 1.46 63.1 7.477
65.0% - 69.9% 33 21.4 86,685,687 16.6 1.35 67.7 7.678
70.0% - 74.9% 43 27.9 147,984,050 28.4 1.30 73.4 7.298
75.0% - 79.9% 47 30.5 207,642,117 39.9 1.29 78.0 7.151
80.0% - 81.97% 2 1.3 12,177,703 2.3 1.26 81.6 7.112
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE CUT-OFF DATE LTV RATIO IS 72.6%.
This material is for your private information and Banc of America 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> 20
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
MATURITY DATE LOAN-TO-VALUE RATIO - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING MATURITY DATE MORTGAGE
MATURITY DATE LTV RATIO LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
0.0% - 24.9% 3 1.9% $ 3,064,968 0.6% 3.74x 12.4% 7.130%
25.0% - 49.9% 21 13.6 42,019,735 8.1 1.47 40.9 7.391
50.0% - 59.9% 36 23.4 125,979,927 24.2 1.34 57.0 7.499
60.0% - 64.9% 32 20.8 81,189,926 15.6 1.33 62.7 7.505
65.0% - 69.9% 49 31.8 207,526,380 39.8 1.30 67.0 7.114
70.0% - 74.9% 12 7.8 57,708,576 11.1 1.28 70.9 7.390
75.0% - 76.16% 1 0.6 3,500,646 0.7 1.26 76.2 7.350
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0 $520,990,158 100.0% 1.34x 62.0% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Maturity Date LTV means the Maturity Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE MATURITY DATE LTV RATIO IS 62.0%.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL TERM TO MATURITY - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINAL TERM TO MATURITY LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 months 1 0.6% $ 3,500,646 0.7% 1.26x 78.7% 7.350%
84 months 3 1.9 7,646,068 1.5 1.34 68.5 7.934
85-99 months 1 0.6 4,806,900 0.9 1.20 76.9 7.750
100-119 months 5 3.2 13,718,671 2.6 1.33 70.3 7.509
120 months 130 84.4 434,332,625 83.4 1.34 72.7 7.310
140-179 months 4 2.6 33,369,988 6.4 1.24 78.2 7.183
180 months 10 6.5 23,615,260 4.5 1.46 65.0 7.364
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE ORIGINAL TERM TO MATURITY IS 123 MONTHS.
This material is for your private information and Banc of America 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> 21
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ORIGINAL AMORTIZATION TERM - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINAL AMORTIZATION TERM LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
180 months 2 1.3% $ 1,077,130 0.2% 1.63x 36.9% 7.842%
181-239 months 1 0.6 2,712,787 0.5 1.26 73.3 7.250
240 months 8 5.2 21,097,397 4.0 1.33 65.6 7.382
241-299 months 2 1.3 6,688,376 1.3 1.33 74.8 7.340
300 months 39 25.3 117,097,551 22.5 1.34 71.0 7.597
301-359 months 2 1.3 8,480,846 1.6 1.36 72.0 7.761
360 months 100 64.9 363,836,071 69.8 1.34 73.7 7.219
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE ORIGINAL AMORTIZATION TERM IS 339 MONTHS.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
REMAINING TERM TO MATURITY - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
REMAINING TERM TO MATURITY LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
37-39 months 1 0.6% $ 3,500,646 0.7% 1.26x 78.7% 7.350%
40-59 months 1 0.6 4,349,016 0.8 1.32 68.4 8.140
60-79 months 2 1.3 3,297,051 0.6 1.36 68.5 7.661
80-99 months 9 5.8 54,608,035 10.5 1.29 73.4 7.689
100-109 months 63 40.9 219,660,958 42.2 1.32 73.2 7.069
110-119 months 64 41.6 178,589,204 34.3 1.38 71.8 7.517
120-139 months 2 1.3 26,802,619 5.1 1.21 78.0 7.059
140-159 months 1 0.6 2,218,388 0.4 1.34 79.2 7.500
160-171 months 11 7.1 27,964,241 5.4 1.45 67.2 7.429
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE REMAINING TERM TO MATURITY IS 111 MONTHS.
This material is for your private information and Banc of America 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> 22
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
REMAINING STATED AMORTIZATION TERMS - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE NITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
REMAINING STATED AMORTIZATION TERM LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
170-174 months 2 1.3% $ 1,077,130 0.2% 1.63x 36.9% 7.842%
200-224 months 1 0.6 2,712,787 0.5 1.26 73.3 7.250
225-249 months 9 5.8 23,315,785 4.5 1.33 66.9 7.393
250-274 months 1 0.6 4,469,988 0.9 1.32 72.6 7.260
275-299 months 39 25.3 117,097,551 22.5 1.34 71.0 7.597
325-349 months 60 39.0 233,613,764 44.8 1.33 73.3 7.149
350-354 months 42 27.3 138,703,152 26.6 1.36 74.2 7.371
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE REMAINING STATED AMORTIZATION TERM IS 327 MONTHS.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
SEASONING - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
SEASONING LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6-12 months 92 59.7% $290,199,655 55.7% 1.35x 71.7% 7.435%
13-24 months 61 39.6 226,441,487 43.5 1.33 73.9 7.162
25-25 months 1 0.6 4,349,016 0.8 1.32 68.4 8.140
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
* THE WEIGHTED AVERAGE LOAN AGE IS 12 MONTHS.
This material is for your private information and Banc of America 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> 23
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT PROVISIONS SUMMARY - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
PREPAYMENT PROVISIONS LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Lockout/Open(3) 134 87.0% $414,356,761 79.5% 1.34x 72.8% 7.275%
Lockout/Yield Maintenance/Open 13 8.4 76,793,960 14.7 1.34 70.6 7.649
Lockout/Yield Maintenance/Open(3) 5 3.2 24,226,908 4.7 1.28 75.9 7.107
Lockout/Yield Maint./Decl. Penalty/Open 2 1.3 5,612,530 1.1 1.30 76.9 7.301
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
(3) These loans are subject to a Defeasance option.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
YEAR OF ORIGINATION - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
YEAR LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1997 8 5.2% $ 49,857,085 9.6% 1.30x 73.3% 7.726%
1998 103 66.9 338,386,251 65.0 1.33 72.8 7.193
1999 43 27.9 132,746,822 25.5 1.37 71.9 7.503
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
This material is for your private information and Banc of America 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> 24
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
YEAR OF MATURITY - CONDUIT LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
YEAR LOANS LOANS BALANCE BALANCE DSCR(1) LTV RATIO(2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
2002 1 0.6% $ 3,500,646 0.7% 1.26x 78.7% 7.350%
2004 1 0.6 4,349,016 0.8 1.32 68.4 8.140
2005 1 0.6 934,458 0.2 1.40 69.2 7.500
2006 2 1.3 7,169,493 1.4 1.25 74.1 7.742
2007 4 2.6 24,318,299 4.7 1.27 73.9 7.674
2008 67 43.5 245,143,793 47.1 1.32 73.1 7.134
2009 64 41.6 178,589,204 34.3 1.38 71.8 7.517
2010 1 0.6 2,474,151 0.5 1.25 72.8 7.250
2011 2 1.3 26,546,857 5.1 1.22 78.5 7.078
2013 5 3.2 12,801,553 2.5 1.59 70.2 7.511
2014 6 3.9 15,162,688 2.9 1.32 64.7 7.359
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WAV 154 100.0% $520,990,158 100.0% 1.34x 72.6% 7.323%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
This material is for your private information and Banc of America 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> 25
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
PROPERTY LOCATION - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGED MORTGAGED CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
STATE/COUNTY PROPERTIES PROPERTIES BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CA 92 49.7% $301,422,730 50.7% 1.38x 62.8% 8.425%
Los Angeles 23 12.4 69,446,480 11.7 1.41 61.2 8.474
Orange 15 8.1 36,671,108 6.2 1.49 60.5 8.561
Sacramento 7 3.8 28,869,721 4.9 1.29 61.6 8.028
Riverside 6 3.2 26,837,987 4.5 1.29 67.5 8.222
Ventura 5 2.7 25,626,776 4.3 1.47 62.0 8.649
Santa Clara 6 3.2 24,331,801 4.1 1.25 64.4 9.071
Alameda 6 3.2 13,734,967 2.3 1.34 66.9 7.816
San Diego 4 2.2 12,426,850 2.1 1.34 59.6 9.694
San Luis Obispo 1 0.5 10,803,864 1.8 1.19 74.5 7.500
Sonoma 1 0.5 7,884,360 1.3 1.24 62.1 7.750
Other Counties 18 9.7 44,788,816 7.5 1.46 61.4 8.314
WA 34 18.4 96,387,085 16.2 1.56 63.0 8.318
NV 17 9.2 57,806,084 9.7 1.32 61.7 8.111
OR 14 7.6 46,972,122 7.9 1.34 65.9 7.970
TX 3 1.6 33,298,286 5.6 1.31 66.9 6.875
AZ 12 6.5 30,619,670 5.2 1.44 63.6 8.181
AK 4 2.2 7,074,990 1.2 1.49 66.1 8.470
ID 3 1.6 6,899,505 1.2 1.39 66.1 8.043
AL 3 1.6 5,972,973 1.0 2.73 43.5 7.994
NM 1 0.5 4,293,120 0.7 1.64 33.3 7.990
Other States 2 1.1 3,450,026 0.6 1.90 46.5 7.809
- -------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 185 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE MORTGAGED PROPERTIES ARE LOCATED THROUGHOUT 12 STATES.
This material is for your private information and Banc of America 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> 26
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------
PROPERTY TYPE - PORTFOLIO LOANS
WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE MIN/MAX AVERAGE
MORTGAGED MORTGAGED CUT-OFF DATE INITIAL POOL UNDERWRITING UNDERWRITING CUT-OFF DATE
PROPERTY TYPE PROPERTIES PROPERTIES BALANCE BALANCE DSCR (1) DSCR (1) LTV RATIO (2)
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Multifamily 52 28.1% $180,608,168 30.4% 1.43x 1.10 / 3.29 62.9%
Retail 26 14.1 111,379,408 18.7 1.29 1.12 / 2.32 65.7
Industrial 45 24.3 109,142,534 18.4 1.41 1.11 / 2.83 62.6
Office 21 11.4 68,294,269 11.5 1.38 1.11 / 1.81 63.7
Mobile Home 12 6.5 34,670,674 5.8 1.42 1.20 / 2.95 63.0
Health Care 7 3.8 30,170,351 5.1 1.79 1.15 / 4.61 59.3
Special Purpose 10 5.4 28,027,440 4.7 1.33 1.11 / 1.68 60.9
Mini Storage 9 4.9 19,586,869 3.3 1.71 1.31 / 2.00 52.9
Hotel 2 1.1 8,540,909 1.4 1.62 1.55 / 1.81 54.9
Mixed Use 1 0.5 3,775,967 0.6 1.45 1.45 / 1.45 69.9
- ----------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 185 100.0% $594,196,590 00.0% 1.42X 1.10 / 4.61 62.8%
<CAPTION>
- --------------------------------------------
PROPERTY TYPE - PORTFOLIO LOANS
WEIGHTED
MIN/MAX AVERAGE
CUT-OFF DATE MORTGAGE
PROPERTY TYPE LTV RATIO (2) RATE
- --------------------------------------------
<S> <C> <C>
Multifamily 30.2 / 79.8 7.890%
Retail 30.7 / 77.0 8.395
Industrial 22.4 / 80.6 8.366
Office 24.0 / 82.0 8.354
Mobile Home 24.7 / 72.4 7.835
Health Care 43.3 / 70.0 8.549
Special Purpose 45.8 / 70.7 8.420
Mini Storage 29.5 / 61.5 8.545
Hotel 53.3 / 59.1 8.945
Mixed Use 69.9 / 69.9 9.375
- -------------------------------------------
Total / WAV 22.4 / 82.0 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE BALANCE - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
CUT-OFF DATE BALANCE LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
$1,010,199 - $1,999,999 60 34.1% $102,005,450 17.2% 1.58x 58.5% 8.378%
$2,000,000 - $2,999,999 43 24.4 107,060,258 18.0 1.46 59.9 8.268
$3,000,000 - $3,999,999 34 19.3 116,688,581 19.6 1.42 62.9 8.211
$4,000,000 - $4,999,999 14 8.0 61,562,672 10.4 1.41 66.4 8.130
$5,000,000 - $7,499,999 13 7.4 78,809,737 13.3 1.36 61.3 8.750
$7,500,000 - $9,999,999 7 4.0 58,023,756 9.8 1.37 63.6 8.061
$10,000,000 - $14,999,999 4 2.3 44,126,284 7.4 1.24 72.0 8.123
$20,000,000 - $25,919,852 1 0.6 25,919,852 4.4 1.21 70.1 6.720
- -------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE AVERAGE CUT-OFF DATE BALANCE IS $3,376,117.
This material is for your private information and Banc of America 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> 27
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------
MORTGAGE RATE - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
MORTGAGE RATE LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6.720% - 6.999% 1 0.6% $ 25,919,852 4.4% 1.21x 70.1% 6.720%
7.000% - 7.249% 5 2.8 12,166,857 2.0 1.26 61.2 7.219
7.250% - 7.499% 11 6.3 39,481,255 6.6 1.47 65.5 7.363
7.500% - 7.749% 18 10.2 67,546,811 11.4 1.34 65.9 7.590
7.750% - 7.999% 28 15.9 92,654,226 15.6 1.47 61.9 7.874
8.000% - 8.499% 37 21.0 133,503,942 22.5 1.46 62.7 8.202
8.500% - 8.999% 51 29.0 140,210,261 23.6 1.46 61.9 8.650
9.000% - 9.499% 15 8.5 48,634,793 8.2 1.33 62.5 9.148
9.500% - 9.999% 6 3.4 18,858,888 3.2 1.40 55.5 9.772
10.000% - 10.375% 4 2.3 15,219,703 2.6 1.38 55.6 10.270
- ---------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE MORTGAGE RATE IS 8.227%.
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
UNDERWRITING DEBT SERVICE COVERAGE RATIO - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
DEBT SERVICE COVERAGE RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1.10x - 1.19x 29 16.5% $ 87,982,085 14.8% 1.15x 65.8% 8.395%
1.20x - 1.24x 28 15.9 133,962,311 22.5 1.22 67.2 7.920
1.25x - 1.29x 20 11.4 69,443,568 11.7 1.27 67.4 8.280
1.30x - 1.34x 13 7.4 50,952,134 8.6 1.32 63.0 8.106
1.35x - 1.39x 13 7.4 38,309,367 6.4 1.37 58.1 8.779
1.40x - 1.49x 19 10.8 50,688,638 8.5 1.44 61.6 8.079
1.50x - 1.59x 15 8.5 58,506,490 9.8 1.54 63.2 8.203
1.60x - 1.69x 12 6.8 39,811,567 6.7 1.64 57.9 8.649
1.70x - 1.79x 5 2.8 17,671,884 3.0 1.74 58.9 7.993
1.80x - 1.89x 3 1.7 6,455,637 1.1 1.83 52.5 8.776
1.90x - 1.99x 6 3.4 10,904,017 1.8 1.95 56.2 8.294
2.00x - 2.99x 11 6.3 25,930,960 4.4 2.45 43.2 8.188
3.00x - 4.61x 2 1.1 3,577,931 0.6 3.95 45.2 8.388
- -------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42x 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE UNDERWRITING DEBT SERVICE COVERAGE RATIO IS 1.42x.
This material is for your private information and Banc of America 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> 28
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
ASSUMED DEBT SERVICE COVERAGE RATIO - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
DEBT SERVICE COVERAGE RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1.12x - 1.19x 2 1.1% $ 32,297,188 5.4% 1.13x 69.8% 6.874%
1.20x - 1.24x 2 1.1 4,398,395 0.7 1.23 72.7 7.695
1.25x - 1.29x 4 2.3 13,108,586 2.2 1.28 67.6 7.711
1.30x - 1.34x 12 6.8 39,139,019 6.6 1.32 71.0 7.826
1.35x - 1.39x 9 5.1 32,538,895 5.5 1.37 70.0 7.981
1.40x - 1.49x 29 16.5 107,412,455 18.1 1.44 66.5 8.082
1.50x - 1.59x 17 9.7 63,550,847 10.7 1.54 66.6 8.497
1.60x - 1.69x 16 9.1 47,498,744 8.0 1.64 63.7 8.185
1.70x - 1.79x 18 10.2 58,042,337 9.8 1.74 63.8 8.270
1.80x - 1.89x 11 6.3 43,788,564 7.4 1.85 62.1 8.785
1.90x - 1.99x 13 7.4 41,276,601 6.9 1.93 61.5 8.226
2.00x - 2.99x 30 17.0 85,362,459 14.4 2.34 51.6 8.774
3.00x - 5.88x 13 7.4 25,782,501 4.3 3.90 39.4 8.352
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.76X 62.8% 8.227%
</TABLE>
(1) Assumed DSCR is the ratio of the Underwriting Cash Flow to a Debt Service
payment based on an 8.5% constant.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE ASSUMED DEBT SERVICE COVERAGE RATIO IS 1.76X.
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE LOAN-TO-VALUE RATION - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
CUT-OFF DATE LTV RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
22.35% - 29.9% 4 2.3% $ 5,666,707 1.0% 1.92x 24.7% 8.016%
30.0% - 49.9% 24 13.6 58,948,489 9.9 1.87 41.6 8.608
50.0% - 59.9% 32 18.2 99,803,061 16.8 1.50 55.6 8.453
60.0% - 64.9% 37 21.0 130,368,099 21.9 1.41 62.9 8.242
65.0% - 69.9% 44 25.0 149,846,034 25.2 1.29 67.3 8.276
70.0% - 74.9% 29 16.5 133,046,438 22.4 1.30 72.0 7.822
75.0% - 79.9% 4 2.3 10,617,900 1.8 1.31 78.3 8.228
80.0% - 82.03% 2 1.1 5,899,861 1.0 1.21 81.7 8.329
- ----------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE CUT-OFF DATE LTV RATIO IS 62.8%.
This material is for your private information and Banc of America 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> 29
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
MATURITY DATE LOAN-TO-VALUE RATIO - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
MATURITY DATE LTV RATIO LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
0.0% - 24.9% 23 13.1% $ 56,576,674 9.5% 1.39x 2.4% 8.347%
25.0% - 49.9% 39 22.2 111,625,379 18.8 1.70 38.7 8.540
50.0% - 59.9% 61 34.7 215,334,491 36.2 1.38 55.4 8.262
60.0% - 64.9% 36 20.5 156,587,255 26.4 1.31 61.8 7.969
65.0% - 69.9% 13 7.4 41,380,153 7.0 1.33 66.9 8.038
70.0% - 74.9% 1 0.6 2,952,999 0.5 1.17 73.2 8.750
75.0% - 80.40% 3 1.7 9,739,638 1.6 1.33 76.9 7.967
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0 $594,196,590 100.0% 1.42X 50.2% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Maturity Date LTV means the Maturity Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE MATURITY DATE LTV RATIO IS 50.2%.
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
ORIGINAL TERM TO MATURITY - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINAL TERM TO MATURITY LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
60 months 4 2.3% $ 14,519,831 2.4% 1.55x 67.1% 8.524%
61 - 83 months 3 1.7 8,288,826 1.4 1.60 57.9 8.069
84 months 28 15.9 75,382,942 12.7 1.42 62.9 8.431
85 - 99 months 2 1.1 5,675,513 1.0 1.49 46.4 8.821
100 - 119 months 9 5.1 34,907,417 5.9 1.66 62.2 7.913
120 months 97 55.1 339,876,507 57.2 1.39 63.9 8.113
121 - 139 months 10 5.7 39,107,409 6.6 1.50 63.5 8.608
140 - 179 months 5 2.8 20,940,076 3.5 1.47 62.6 7.986
180 months 16 9.1 52,321,560 8.8 1.27 57.8 8.555
240 months 1 0.6 1,551,460 0.3 1.36 59.9 8.400
355 months 1 0.6 1,625,049 0.3 1.81 24.0 8.625
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE ORIGINAL TERM TO MATURITY IS 120 MONTHS.
This material is for your private information and Banc of America 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> 30
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------
ORIGINAL AMORTIZATION TERM - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
ORIGINAL AMORTIZATION TERM LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
96 - 179 months 3 1.7% $ 7,160,808 1.2% 1.24x 39.7% 8.022%
180 months 17 9.7 44,338,295 7.5 1.30 54.2 8.441
181 - 239 months 1 0.6 6,665,557 1.1 1.73 56.0 7.740
240 months 34 19.3 100,938,027 17.0 1.60 55.9 8.725
241 - 299 months 2 1.1 10,466,848 1.8 1.36 67.3 7.429
300 months 95 54.0 319,401,432 53.8 1.41 64.8 8.244
301 - 359 months 2 1.1 9,729,818 1.6 1.40 52.9 8.313
360 months 22 12.5 95,495,804 16.1 1.31 70.1 7.670
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE ORIGINAL AMORTIZATION TERM IS 288 MONTHS.
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
REMAINING TERM TO MATURITY - PORTFOLIO LOANS
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
REMAINING TERM TO MATURITY LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
3 - 19 months 12 6.8% $ 32,237,481 5.4% 1.58x 62.4% 8.525%
20 -39 months 24 13.6 69,606,479 11.7 1.39 63.2 8.473
40 - 59 months 12 6.8 32,971,212 5.5 1.42 58.6 8.048
60 - 79 months 54 30.7 206,055,483 34.7 1.37 63.0 8.329
80 - 99 months 43 24.4 125,499,866 21.1 1.54 63.6 8.260
100 - 109 months 13 7.4 65,721,559 11.1 1.38 67.5 7.359
110 - 119 months 2 1.1 10,606,725 1.8 1.53 54.3 8.673
120 - 139 months 3 1.7 16,433,985 2.8 1.27 59.4 8.944
140 - 159 months 8 4.5 24,951,705 4.2 1.30 56.4 8.373
160 - 168 months 5 2.8 10,112,095 1.7 1.24 60.5 7.317
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
- - THE WEIGHTED AVERAGE REMAINING TERM TO MATURITY IS 77 MONTHS.
This material is for your private information and Banc of America 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> 31
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
- -------------------------------------------------------------------------------
REMAINING STATED AMORTIZATION TERMS - PORTFOLIO LOANS
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
REMAINING STATED AMORTIZATION TERM LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
33 - 149 months 13 7.4% $ 36,040,203 6.1% 1.31x 48.5% 8.624%
150 - 174 months 12 6.8 24,359,726 4.1 1.40 56.3 8.168
175 - 199 months 17 9.7 66,798,427 11.2 1.50 57.2 8.755
200 - 224 months 15 8.5 35,080,842 5.9 1.83 54.0 8.450
225 - 249 months 30 17.0 95,058,039 16.0 1.36 62.9 8.628
250 - 274 months 53 30.1 191,055,296 32.2 1.40 66.4 8.137
275 - 299 months 17 9.7 57,646,725 9.7 1.47 62.7 7.901
300 - 324 months 11 6.3 46,876,661 7.9 1.38 70.6 7.932
325 - 344 months 8 4.5 41,280,670 6.9 1.25 70.1 7.153
- -----------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual
Debt Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- THE WEIGHTED AVERAGE REMAINING STATED AMORTIZATION TERM IS 244 MONTHS.
- -------------------------------------------------------------------------------
SEASONING - PORTFOLIO LOANS
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
SEASONING LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
12 - 12 months 3 1.7% $ 4,924,582 0.8% 1.15x 62.4% 7.223%
13 - 24 months 25 14.2 94,418,632 15.9 1.40 64.0 7.444
25 - 36 months 36 20.5 104,392,156 17.6 1.58 60.6 8.399
37 - 48 months 49 27.8 178,996,098 30.1 1.38 65.0 8.021
49 - 60 months 35 19.9 140,451,903 23.6 1.35 63.2 8.671
61 - 72 months 20 11.4 53,361,078 9.0 1.45 57.6 8.739
73 - 84 months 5 2.8 12,283,307 2.1 1.45 62.2 8.679
85 - 120 months 1 0.6 2,192,324 0.4 1.10 65.9 8.875
121 - 160 months 1 0.6 1,551,460 0.3 1.36 59.9 8.400
161 - 296 months 1 0.6 1,625,049 0.3 1.81 24.0 8.625
- -----------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual
Debt Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the
Appraisal Value.
- THE WEIGHTED AVERAGE LOAN AGE IS 44 MONTHS.
This material is for your private information and Banc of America 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> 32
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
- -------------------------------------------------------------------------------
PREPAYMENT PROVISIONS SUMMARY - PORTFOLIO LOANS
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
PREPAYMENT PROVISIONS LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Yield Maintenance 155 88.1% $528,303,321 88.9% 1.39x 63.2% 8.182%
Open/Yield Maintenance (3) 8 4.5 26,169,505 4.4 1.41 66.8 8.560
Yield Maintenance/Open 4 2.3 19,038,215 3.2 1.98 59.0 8.566
Lockout/Yield Maintenance/Open 4 2.3 12,752,332 2.1 1.65 52.0 8.589
Open/Lockout/Yield Maintenance/Open (3) 1 0.6 2,192,324 0.4 1.10 65.9 8.875
Partial Open/Declining Penalty (3) 1 0.6 1,625,049 0.3 1.81 24.0 8.625
Lockout/Yield Maintenance 1 0.6 1,554,183 0.3 1.77 56.5 9.000
Yield Maintenance (4) 1 0.6 1,551,460 0.3 1.36 59.9 8.400
Open 1 0.6 1,010,199 0.2 1.69 29.5 8.510
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42X 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
(3) These loans are past their initial Open period.
(4) This loan is in the final Yield Maintenance period.
- -------------------------------------------------------------------------------
YEAR OF ORIGINATION - PORTFOLIO LOANS
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
YEAR LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1974 1 0.6% $ 1,625,049 0.3% 1.81x 24.0% 8.625%
1987 1 0.6 1,551,460 0.3 1.36 59.9 8.400
1990 1 0.6 2,192,324 0.4 1.10 65.9 8.875
1992 1 0.6 3,594,687 0.6 1.23 70.5 9.130
1993 5 2.8 10,507,426 1.8 1.55 58.3 8.494
1994 28 15.9 92,580,079 15.6 1.38 58.4 8.949
1995 49 27.8 190,279,903 32.0 1.35 65.8 8.161
1996 38 21.6 124,883,502 21.0 1.46 63.2 8.314
1997 33 18.8 93,987,414 15.8 1.57 59.8 8.196
1998 19 10.8 72,994,745 12.3 1.36 64.9 7.258
- ----------------------------------------------------------------------------------------------------------------------------------
Total / WAV 176 100.0% $594,196,590 100.0% 1.42x 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
This material is for your private information and Banc of America 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> 33
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
AS OF THE CUT-OFF DATE
- --------------------------------------------------------------------------------
YEAR OF MATURITY - PORTFOLIO LOANS
<TABLE>
<CAPTION>
WEIGHTED WEIGHTED WEIGHTED
NUMBER OF % OF AGGREGATE % OF AVERAGE AVERAGE AVERAGE
MORTGAGE MORTGAGE CUT-OFF DATE INITIAL POOL UNDERWRITING CUT-OFF DATE MORTGAGE
YEAR LOANS LOANS BALANCE BALANCE DSCR (1) LTV RATIO (2) RATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
2000 5 2.8% $ 13,867,509 2.3% 1.48x 66.2% 8.300%
2001 14 8.0 40,222,938 6.8 1.52 60.8 8.757
2002 14 8.0 37,499,374 6.3 1.38 61.1 8.391
2003 6 3.4 17,176,566 2.9 1.45 66.4 8.241
2004 12 6.8 38,396,933 6.5 1.35 61.1 8.249
2005 24 13.6 100,667,986 16.9 1.36 63.0 8.398
2006 41 23.3 143,467,791 24.1 1.38 64.4 8.231
2007 24 13.6 61,610,085 10.4 1.69 61.2 8.319
2008 18 10.2 79,182,899 13.3 1.40 66.1 7.416
2009 3 1.7 21,257,026 3.6 1.39 60.1 8.857
2010 2 1.1 5,783,684 1.0 1.29 47.6 8.766
2011 1 0.6 3,817,327 0.6 1.54 46.3 8.575
2012 6 3.4 19,387,773 3.3 1.22 59.6 8.295
2013 6 3.4 11,858,700 2.0 1.30 57.8 7.535
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL / WAV 176 100.0% $594,196,590 100.0% 1.42x 62.8% 8.227%
</TABLE>
(1) Underwriting DSCR is the ratio of the Underwriting Cash Flow to Annual Debt
Service.
(2) Cut-off Date LTV means the Cut-off Date Balance divided by the Appraisal
Value.
This material is for your private information and Banc of America 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> 34
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
MORTGAGE POOL CHARACTERISTICS
- --------------------------------------------------------------------------------
PREPAYMENT PROVISION BASED ON OUTSTANDING PRINCIPAL BALANCE
<TABLE>
<CAPTION>
ALL LOANS (1) 11/99 11/00 11/01 11/02 11/03 11/04 11/05
----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Locked Out 46.72% 48.24% 50.93% 46.95% 47.76% 50.78% 56.13%
Yield Maintenance 53.05% 51.04% 48.09% 52.08% 51.69% 48.71% 43.29%
3% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.29%
2% 0.00% 0.00% 0.36% 0.00% 0.00% 0.00% 0.00%
1% 0.15% 0.12% 0.09% 0.07% 0.03% 0.00% 0.00%
No Penalty 0.09% 0.60% 0.52% 0.90% 0.52% 0.51% 0.29%
----------------------------------------------------------------------------------------------------------------------
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
----------------------------------------------------------------------------------------------------------------------
Aggregate Principal Balance of
the Mortgage Loans ($Millions): $1,115.19 $1,051.76 $ 962.07 $ 889.83 $ 830.91 $ 768.71 $ 679.32
Percentage of Cut-Off Date Balance
of the Mortgage Loans Outstanding: 100.00% 94.31% 86.27% 79.79% 74.51% 68.93% 60.92%
----------------------------------------------------------------------------------------------------------------------
<CAPTION>
ALL LOANS (1) 11/06 11/07 11/08 11/09 11/10 11/11 11/12 11/13
--------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Locked Out 63.93% 71.05% 42.07% 80.59% 83.49% 75.65% 78.61% 0.00%
Yield Maintenance 34.95% 17.61% 7.86% 19.41% 16.51% 24.35% 2.15% 0.00%
3% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2% 0.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1% 0.00% 0.38% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No Penalty 0.78% 10.96% 50.07% 0.00% 0.00% 0.00% 19.24% 100.00%
--------------------------------------------------------------------------------------------------------------------------
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
--------------------------------------------------------------------------------------------------------------------------
Aggregate Principal Balance of
the Mortgage Loans ($Millions): $571.43 $498.60 $233.65 $ 49.71 $ 43.52 $ 20.40 $ 18.27 $ 6.86
Percentage of Cut-Off Date Balance
of the Mortgage Loans Outstanding: 51.24% 44.71% 20.95% 4.46% 3.90% 1.83% 1.64% 0.61%
--------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CONDUIT LOANS (1) 11/99 11/00 11/01 11/02 11/03 11/04 11/05
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Locked Out 100.00% 98.49% 96.31% 83.23% 80.79% 81.46% 81.14%
Yield Maintenance 0.00% 1.51% 3.01% 16.09% 19.21% 18.54% 18.02%
3% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.42%
2% 0.00% 0.00% 0.67% 0.00% 0.00% 0.00% 0.00%
1% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No Penalty 0.00% 0.00% 0.00% 0.68% 0.00% 0.00% 0.42%
---------------------------------------------------------------------------------------------------------------
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
---------------------------------------------------------------------------------------------------------------
Aggregate Principal Balance of
the Mortgage Loans ($Millions): $520.99 $515.17 $508.79 $501.92 $491.18 $479.23 $469.93
Percentage of Cut-Off Date Balance
of the Mortgage Loans Outstanding: 100.00% 98.88% 97.66% 96.34% 94.28% 91.98% 90.20%
---------------------------------------------------------------------------------------------------------------
<CAPTION>
CONDUIT LOANS (1) 11/06 11/07 11/08 11/09 11/10 11/11 11/12 11/13
--------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Locked Out 79.60% 80.93% 44.85% 91.36% 90.75% 81.03% 80.34% 0.00%
Yield Maintenance 19.01% 6.15% 1.76% 8.64% 9.25% 18.97% 0.00% 0.00%
3% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2% 0.42% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1% 0.00% 0.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No Penalty 0.97% 12.48% 53.38% 0.00% 0.00% 0.00% 19.66% 100.00%
--------------------------------------------------------------------------------------------------------------------------
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
--------------------------------------------------------------------------------------------------------------------------
Aggregate Principal Balance of
the Mortgage Loans ($Millions): $458.94 $437.74 $219.16 $ 43.86 $ 40.04 $ 19.05 $ 17.88 $ 6.86
Percentage of Cut-Off Date Balance
of the Mortgage Loans Outstanding: 88.09% 84.02% 42.07% 8.42% 7.69% 3.66% 3.43% 1.32%
--------------------------------------------------------------------------------------------------------------------------
<CAPTION>
PORTFOLIO LOANS (1) 11/99 11/00 11/01 11/02 11/03 11/04 11/05
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Locked Out 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Yield Maintenance 99.56% 98.59% 98.69% 98.65% 98.66% 98.64% 100.00%
3% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1% 0.27% 0.24% 0.20% 0.15% 0.08% 0.00% 0.00%
No Penalty 0.17% 1.17% 1.11% 1.20% 1.26% 1.36% 0.00%
---------------------------------------------------------------------------------------------------------------
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
---------------------------------------------------------------------------------------------------------------
Aggregate Principal Balance of
the Mortgage Loans ($Millions): $594.20 $536.59 $453.28 $387.91 $339.73 $289.48 $209.40
Percentage of Cut-Off Date Balance
of the Mortgage Loans Outstanding: 100.00% 90.30% 76.28% 65.28% 57.17% 48.72% 35.24%
---------------------------------------------------------------------------------------------------------------
<CAPTION>
PORTFOLIO LOANS (1) 11/06 11/07 11/08 11/09 11/10 11/11 11/12 11/13
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Locked Out 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Yield Maintenance 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00%
3% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
-------------------------------------------------------------------------------------------------------------------------
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00%
-------------------------------------------------------------------------------------------------------------------------
Aggregate Principal Balance of
the Mortgage Loans ($Millions): $112.48 $ 60.86 $ 14.49 $ 5.86 $ 3.48 $ 1.35 $ 0.39 $ 0.00
Percentage of Cut-Off Date Balance
of the Mortgage Loans Outstanding: 18.93% 10.24% 2.44% 0.99% 0.59% 0.23% 0.07% 0.00%
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Prepayment provisions in effect as a percentage of
outstanding loan balances as of the indicated date assuming
no prepayments, or in the case of the Portfolio Mortgage
Loans, 6% CPR after the expiration of the applicable Lock-Out
Period, if any.
This material is for your private information and Banc of America
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> 35
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
RITE AID EXPOSURE
NationsLink 99-2 contains five loans to properties that have a Rite Aid
presence. Loan exposure to Rite Aid is 1.2% of Pool Balance. The pool
contains only one single-tenant Rite Aid which is .3% of Pool Balance.
#51019 (Conduit) - Located at the corner of two heavily traveled
streets in the Sheepshead Bay section of Brooklyn, this property is
newer and of better quality than most of the comparables. Vacancies in
the submarket are less than 5%, and the Rite Aid rent is approximately
$24/sf vs. $30/sf for the submarket.
#51327 (Conduit) - The property is located on Sunset Blvd. in
Hollywood. This submarket has an occupancy of approximately 97%. Rite
Aid has been here since 12/76 and is paying rent of approximately
$3.60/sf compared to $24/sf for the submarket. This location's sales
are $319/sf (2/98).
#51484 (Conduit) - Neighborhood shopping center anchored by Food Lion.
Rite Aid has subleased (and guaranteed) to Kerr Drug. Kerr's sales are
$213/sf (YE 11/98).
#51516 (Conduit) - Single Tenant, located in a bedroom community of San
Diego. Built in December 1998.
#3051141 (Portfolio) - Multi-tenant shopping center located in
Hollywood. Center contains 16 tenants.
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Cut-off Cut-off UW Square SF % of % of Lease
Balance LTV DSCR Feet Center Rent Expiration
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
51019 $ 2,969,140 74.2% 1.33 7,781 44.0% 47.0% 06/25/2011
51327 $ 2,972,495 63.2% 1.47 16,520 47.0% 13.0% 05/31/2007
51484 $ 3,380,071 74.3% 1.29 8,640 12.0% 14.0% 11/22/2004
51516 $ 2,788,187 78.5% 1.29 16,320 100.0% 100.0% 12/31/2018
3051141 $ 1,656,837 30.7% 1.92 15,180 37.0% 37.0% 12/04/2013
-----------------------------------------------------------------------------------------------------------------
Total/Wtd.Avg's $ 13,766,730 67.5% 1.41
-----------------------------------------------------------------------------------------------------------------
</TABLE>
As and to the extent described in the prospectus supplement, Bank of
America will provide indemnification for the benefit of the holders of
the Offered Certificates, per their respective entitlements, if any (as
determined as described under "Description of the Certificates -
Distributions - Distributions of Prepayment Premiums" in the prospectus
supplement), for any prepayment penalties due, but not received, in the
event of a payment default relating to Rite Aid, under any of the five
Mortgage Loans shown above. The total amount of the indemnification
will not exceed 10% of the Cut-off Date Balance of such Mortgage Loans.
This material is for your private information and Banc of America 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> 36
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
RANCHO PALISADES APARTMENTS - PORTFOLIO LOAN
- THE LOAN. The Mortgage Loan (the "Rancho Palisades Apartments Loan"),
which is secured by the first deed of trust on a garden apartment
complex (the "Rancho Palisades Apartments") in Dallas, Texas,
represents approximately 2.3% of the Initial Pool Balance. Originated
on June 9, 1998, the Rancho Palisades Apartments Loan has a principal
balance as of the Cut-off Date of $25,919,852. Rancho Palisades
Apartments Loan was made to Rancho Palisades Partners (the "Rancho
Palisades Borrower"), a single asset Texas Corporation which is owned
by the Frankel Family Trust (84%) and Lakewood Land 5203 (16%).
The Rancho Palisades Apartments Loan has a remaining term of 104 months
and matures on July 1, 2008. The Rancho Palisades Apartments Loan may
be prepaid prior to maturity; however Yield Maintenance prepayment
penalty will be applicable up to the maturity date. The Rancho
Palisades Apartments Loan was originated as a ten year loan with a
thirty year amortization period.
Additional terms and escrows for the Rancho Palisades Apartments Loan
are set forth in Annex A.
- THE PROPERTY. The Rancho Palisades Apartments is a 562 unit luxury
garden apartment complex with 497,080 total square footage. The subject
is situated on 23.9 acres and is improved with twenty-two, three-story
garden apartment buildings. The property, built in two phases; Phase I
in 1991 and Phase II in 1992, was constructed with a wood frame and
stucco exterior with tile covered roofs. Additional improvements
include two clubhouse buildings totaling 11,804 sf that contain a
leasing office, business center, basketball half-court, racquetball
court, weight room and social room facilities. Both phases have a
swimming pool, tennis court, sand volleyball court, drive-through mail
port and laundry rooms.
- RECOURSE LOAN. The Rancho Palisades Apartments loan is full recourse to
the Borrower and Mr. Edward Frankel. Mr. Frankel has been a Bank of
America customer since 1965.
This material is for your private information and Banc of America 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> 37
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
RANCHO PALISADES APARTMENTS - PORTFOLIO LOAN
- PROPERTY MANAGEMENT. The Rancho Palisades property is managed by
Management Support, an entity affiliated with the Borrowing Entity
through common ownership. The company and its predecessors have over 30
years of property management experience. In the Dallas submarket,
Management Support oversees 8 properties totaling 3,249 units. Overall,
they manage 5,941 units located in Texas, Arizona and California.
- OPERATING HISTORY.
<TABLE>
<CAPTION>
PARTIAL YEAR
1997 10 MOS. ENDED ORIGINATOR'S
ACTUAL 3/31/99 ANNUALIZED UNDERWRITTEN
----------- ------------------ ------------
<S> <C> <C> <C>
EGI ............................... $ 5,052,651 $ 5,038,700 $ 5,038,701
Expenses .......................... $ 2,238,898 $ 2,226,924 $ 2,423,020
----------- ----------- -----------
NOI ............................... $ 2,813,753 $ 2,811,776 $ 2,615,681
Cash Flow ......................... $ 2,570,793 $ 2,811,776 $ 2,475,181
----------- ----------- -----------
Occupancy ......................... NAV 95.00% 90.33%
DSCR based on NOI ................. 1.38x 1.38x 1.28x
DSCR based on Cash Flow ........... 1.26x 1.38x 1.21x
</TABLE>
This material is for your private information and Banc of America 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> 38
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
BANK OF AMERICA REGIONAL HEADQUARTERS - CONDUIT LOAN
- THE LOAN. The Mortgage Loan (the "Bank of America Regional Headquarters
Loan"), which is secured by a first mortgage encumbering an office
building (the "Bank of America Regional Headquarters") in Rancho
Cordova, Sacramento County, California, represents approximately 2.2%
of the Initial Pool Balance. The subject office building is 100%
occupied by Bank of America with a lease maturity date of February 23,
2011. Each of DCR and S&P rates the sole tenant's corporate debt AA-,
Moody's rates the sole tenant's corporate debt Aa2, and Fitch rates it
AA. Originated on February 23, 1999, the Bank of America Regional
Headquarters Loan has a principal balance as of the Cut-off Date of
$24,328,468.
The Bank of America Regional Headquarters Loan was made to BARC, LLC, a
single-asset bankruptcy-remote Delaware limited liability company which
is owned 100% by YCMC, LLC, an Ohio limited liability company.
Ownership of YCMC, LLC consists of the following: the GFW Family Trust
(74% and also a borrower principal), C. Frederick Wehba II (10% and
also a borrower principal), Chad Wehba (7%), TPF Trust III (5%),
Christian F. Wehba 1998 Trust (2%), and Cyle F. Wehba 1998 Trust (2%).
Due to loan size, the subject financing includes a non-consolidation
opinion, lock box, and an independent director.
The borrower, BARC, LLC, acquired title to the subject property from the
prior developer/landlord (Panattoni-Catlin) through a sale/assignment of
the tenant's right to purchase option as contained in the lease. Prior
to the assignment of the right to purchase option, the seller carved out
an adjacent parcel and recorded a reciprocal easement agreement.
The Bank of America Regional Headquarters Loan was originated on
February 23, 1999 and matures on February 1, 2011. The anticipated
Maturity Date Loan-to-Value is 59.2%. The Bank of America Regional
Headquarters Loan may not be prepaid prior to December 1, 2010. The
Bank of America Regional Headquarters Loan may be prepaid without a
prepayment penalty during the two (2) months preceding the maturity
date.
Additional terms and escrows for the Bank of America Regional
Headquarters Loan are set forth in Annex A.
This material is for your private information and Banc of America 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> 39
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D
CERTIFICATES $813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
BANK OF AMERICA REGIONAL HEADQUARTERS - CONDUIT LOAN
- THE PROPERTY. The Bank of America Regional Headquarters consists of a
single-tenant 187,875 net rentable square foot build-to-suit office
headquarters located on 10.94 acres at the southeast corner of
Zinfandel Drive and White Rock Road in Rancho Cordova (Unincorporated),
Sacramento County, California. The loan term is co-terminus with the
twelve-year lease term. The subject improvements include a two-story
Class "A" steel frame and concrete tilt-up office building.
Construction on the center was completed in late 1997, and has been
100% occupied by the credit tenant ever since. Bank of America utilizes
the facility as a regional headquarters, including a customer service,
training, commercial banking, community banking, and processing center.
The estimated remaining useful life of the facility is 40-45 years.
- LOCK BOX ACCOUNT. The lender required a hard lock box for the loan
term. The loan is serviced by L.J. Melody, and their agent is BancOne,
which is rated AA- by Standard & Poor's and meets Standard & Poor's
criteria of a fiduciary Lockbox trustee. The account was established to
capture all rents paid by the tenant and disbursed as follows by the
Lender: (1) Monthly Reserve Deposit to the Tax and Insurance Reserve
Account, if applicable; (2) Monthly Payment Amount shall be deposited
in the Debt Service Account for payment of Principal & Interest; (3)
Maintenance, Repair or Replacement Reserve Account(s), if any, as may
be required pursuant to the Loan Agreement, (4) reimbursement of any
amounts expended by Lender to insure that parking requirements under
the B of A Lease are complied with, if applicable, (5) any interest
accruing at the Default rate and late payment charges, if any, (6)
provided no Event of Default has occurred and remains uncured, all
amounts remaining in the Lockbox Account after deposits for items (1)
through (5) shall be paid to or at the written direction of Borrower.
While no reserves are currently being collected under the loan, the
documents provide for springing reserves in the event of certain
defaults by the borrower or under the lease. Consequently, those items
have a place in the waterfall even though they may not currently be
collected.
On the first Business Day of each month, Agent shall withdraw all funds
on deposit in the Lockbox Account from all collections received during
the previous calendar month and disburse such funds in the order of
priority mentioned in the above paragraph.
This material is for your private information and Banc of America 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> 40
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
BANK OF AMERICA REGIONAL HEADQUARTERS - CONDUIT LOAN
- PROPERTY MANAGEMENT. The Bank of America Regional Headquarters is
managed by BFG Management Co., an affiliate of the Borrower, which
reportedly has 17 commercial properties and approximately 1,400,000
square feet under management.
- OPERATING HISTORY.
<TABLE>
<CAPTION>
APPRAISER'S ORIGINATOR'S
ESTIMATE UNDERWRITTEN
----------- ------------
<S> <C> <C>
EGI ........................ $4,099,066 $4,099,066
Expenses ................... $1,275,855 $1,326,623
---------- ----------
NOI ........................ $2,823,211 $2,772,443
Cash Flow .................. $2,823,211 $2,526,702
========== ==========
Occupancy .................. 100.00% 100.00%
DSCR based on NOI .......... 1.35x 1.33x
DSCR based on Cash Flow .... 1.35x 1.21x
</TABLE>
Due to the Bank of America Regional Headquarters change in lease terms
from full service gross to NNN with the subject acquisition, the
subject's financial history is not applicable.
Tenant arranges and pays for all operating expenses directly with local
providers, including taxes, insurance, janitorial, repairs &
maintenance, roof repair, security and trash removal. Despite actual
lease terms, all market-driven operating expense estimates and their
full reimbursement were underwritten to provide a cost estimate to
operate the subject building on an on-going basis.
This material is for your private information and Banc of America 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> 41
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
INDIAN HILLS AND THE CLUB MIRA LAGO - CONDUIT LOANS
- THE LOANS. The Mortgage Loans (the "Indian Hills Loan" and the "Club
Mira Lago Loan"), are each secured by a first deed of trust on an
apartment. Indian Hills is located in Las Vegas, Nevada and Club Mira
Lago is located in Coral Springs, Florida. Each represents
approximately 2.1% and 1.9% of the Initial Pool Balance, respectively.
Both loans were originated on 12/14/98. The Indian Hills Loan and the
Club Mira Lago Loan have principal balances as of the Cut-off Date of
$23,032,935 and $20,689,929 respectively. The Indian Hills Loan was
made to Indian Hills, LLC and the Club Mira Lago Loan was made to Olen
Residential Realty Encumbrance I Corp. Indian Hills, LLC is a single
asset Nevada limited liability company and Olen Residential Realty
Encumbrance I Corp is a single asset Florida corporation. Each is owned
100% by Olen Properties, Inc. Seller's counsel has provided both a
satisfactory non-consolidation opinion and an opinion that the Borrower
is a bankruptcy remote, special purpose entity with an independent
director.
The Indian Hills Loan and the Club Mira Lago Loan have remaining terms
of 110 months and mature on January 1, 2009. The Indian Hills Loan and
the Club Mira Lago Loan may not be prepaid prior to, and including,
October 1, 2008. However, the Indian Hills Loan and The Club Mira Lago
Loan are subject to Defeasance with United States Treasury obligations
beginning two years from the Closing Date. The Indian Hills Loan and
The Club Mira Lago Loan may be prepaid without the payment of a
prepayment penalty during the three (3) months preceding the maturity
date.
Additional terms and escrows for Indian Hills Loan and the Club Mira
Lago Loan are set forth in Annex A.
This material is for your private information and Banc of America 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> 42
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
INDIAN HILLS AND THE CLUB MIRA LAGO - CONDUIT LOANS
- THE PROPERTIES. The property securing the Indian Hills Loan is a 484
unit apartment complex on 23 acres. It is located at 4550 Sahara Avenue
in Las Vegas, Nevada which is about a mile west of the gambling strip.
The tenant base at the property is over 70% professional or retiree
with no concentration for any single employer. The complex was built in
1988. It consists of a building containing the club house and leasing
office along with 60 buildings containing 192 one bedroom and 292 two
bedroom apartment units. There are 436,620 NRSF with 484 covered
parking spaces and 360 non-covered parking spaces. Project amenities
include 3 swimming pools, a fitness centers, 2 lighted tennis courts, a
full size basketball court, and picnic facilities. The units are large
and have a full amenity package including full size washer / dryers,
roman size bathtubs, microwaves, fireplaces in selected units, security
systems, ceiling fans and patios or balconies.
The property securing The Club Mira Lago Loan is a 304 unit apartment
complex located in the southwestern portion of Coral Springs, Florida.
Coral Springs is a bedroom community for Fort Lauderdale and Miami.
Club Mira Lago was built in 1996. It consists of a building containing
the club house and leasing office along with 26 buildings containing 16
one bedroom, 192 two bedroom and 96 three bedroom apartment units. The
subject contains 377,440 NRSF on 15.69 acres with 600 open parking
spaces. Project amenities include beach/boating access on a small lake,
a swimming pool, clubhouse, fitness center, recreation room, and a
recreation area of 2.73 acres containing 2 lighted tennis courts, a
sand volley ball pit, a full basketball court, barbecue grills and
picnic facilities. The units are spacious and have a full amenity
package including full size washer/dryers, Roman size bathtubs,
microwaves, ceiling fans, security systems, walk-in closets, and patios
or balconies.
This material is for your private information and Banc of America 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> 43
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
INDIAN HILLS AND THE CLUB MIRA LAGO - CONDUIT LOANS
- PROPERTY MANAGEMENT. Both properties are managed by the Olen
Properties, Corp. ("Olen Properties"), an entity that is affiliated to
the borrowing entity through common ownership. Olen Properties owns
Olen Residential Realty Corp which owns the Indian Hills borrower and
the Club Mira Lago borrower. Olen Properties manages a total of 8,247
units in 28 apartment communities located in either Las Vegas, the
Coral Springs vicinity of Florida or San Bernardino, California. Within
Las Vegas alone, Olen Properties manages 17 communities comprising a
total of 5,749 units. Olen Properties also manages 11 communities
comprising 2,498 units in the Coral Springs vicinity of east Florida
and one project in San Bernardino, California. Other managed properties
include 3 million square feet of office and industrial space in Orange
County, California. Olen Properties is not a third-party fee based
management company and only exists to exclusively manage company owned
real estate.
- OPERATING HISTORY - INDIAN HILLS.
<TABLE>
<CAPTION>
1997 1998 ORIGINATOR'S
ACTUAL ACTUAL UNDERWRITTEN
---------- ---------- ------------
<S> <C> <C> <C>
EGI ............................... $3,758,660 $3,971,327 $3,881,610
Expenses .......................... $1,126,957 $1,124,968 $1,282,662
---------- ---------- ----------
NOI ............................... $2,631,703 $2,846,359 $2,598,948
Cash Flow ......................... $2,547,783 $2,743,531 $2,462,460
========== ========== ==========
Occupancy ......................... 91.50% 94.40% 92.50%
DSCR based on NOI ................. 1.39x 1.50x 1.37x
DSCR based on Cash Flow ........... 1.34x 1.44x 1.30x
</TABLE>
This material is for your private information and Banc of America 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> 44
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SIGNIFICANT MORTGAGE LOANS
INDIAN HILLS AND THE CLUB MIRA LAGO - CONDUIT LOANS
- OPERATING HISTORY - THE CLUB MIRA LAGO.
<TABLE>
<CAPTION>
1997 1998 ORIGINATOR'S
ACTUAL ACTUAL UNDERWRITTEN
---------- ---------- ------------
<S> <C> <C> <C>
EGI ............................... $2,798,507 $3,774,827 $3,635,863
Expenses .......................... $ 885,719 $1,122,659 $1,394,407
---------- ---------- ----------
NOI ............................... $1,912,788 $2,652,168 $2,241,456
Cash Flow ......................... $1,857,133 $2,582,838 $2,165,456
========== ========== ==========
Occupancy ......................... 68.90% 93.10% 92.00%
DSCR based on NOI ................. 1.12x 1.55x 1.31x
DSCR based on Cash Flow ........... 1.09x 1.51x 1.27x
</TABLE>
This material is for your private information and Banc of America 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> 45
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PREPAYMENT PREMIUM ALLOCATION
All Prepayment Premiums are distributed to Certificate holders on the
Distribution Date following the one-month collection period in which
the prepayment occurred. All Prepayment Premiums will be allocated
among the Class A through D, in each case, up to the product of (i) the
Prepayment Premium, (ii) the "Discount Rate Fraction" and (iii) the
percentage of total principal distribution to Certificate holders to
which such class is entitled. Any excess amounts will be distributed to
the Class X Certificates.
The Discount Rate Fraction for Classes A through D is defined as:
(Coupon on Class - Reinvestment Yield)
----------------------------------------------------
(Gross Mortgage Loan Rate - Reinvestment Yield)
The reinvestment yield may be adjusted to reflect a constant spread,
see "Certain Characteristics Of The Mortgage Loans" in the Prospectus
Supplement.
Prepayment Premium Allocation Example:
A yield maintenance prepayment premium will generally be equal to the
present value of the reduction in interest payments as a result of the
prepayment through the maturity of the Mortgage Loan, discounted at the
yield of a Treasury security of similar maturity in most cases. The
following example reflects that method, for additional types of yield
maintenance see "Certain Characteristics Of The Mortgage Loans" in the
Prospectus Supplement.
General Prepayment Premium Allocation Example:
Assuming the structure represented in this term sheet and the following
assumptions:
<TABLE>
<CAPTION>
MORTGAGE LOAN CHARACTERISTICS OF LOAN BEING PREPAID:
------------------------------------------------------------------------
<S> <C>
Beginning Balance $3,376,117.00
Balance at Prepayment $3,157,013.40
Gross Mortgage Rate 8.227%
Remaining Term (months) 77
Remaining Amortization Term (months) 244
Lock-out Period (months) 36
Prepayment Received (month) 37
Yield Maintenance Collected $201,998.03
Yield Maintenance Type Interest Rate Differential
(Type 1A - See Prospectus
Supplement)
CERTIFICATE CHARACTERISTICS:
------------------------------------------------------------------------
Prepaid Principal $3,150,124.52
Class A-2 Initial Pass-Through Rate 7.118%
Reinvestment Yield 6.046%
</TABLE>
This material is for your private information and Banc of America 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> 46
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PREPAYMENT PREMIUM ALLOCATION
<TABLE>
<CAPTION>
BOND CLASS CLASS X
DISCOUNT RATE FRACTION CALCULATION: ALLOCATION CERTIFICATES
- -----------------------------------------------------------------------------------------------
<S> <C> <C>
(Bond Class Coupon - Reinvestment Yield) 7.118% - 6.046% 1.072%
------------------------------------------ -------------- = ----- (100% - 49.162%)
(Gross Mortgage Rate - Reinvestment Yield) 8.227% - 6.046% 2.181%
% of Premium allocated to Classes 49.162% 50.838%
(Discount Rate Fraction)
$ Premium allocated to Classes $99,306.52 $102,691.51
</TABLE>
This material is for your private information and Banc of America 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> 47
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLES
The tables set forth hereafter show the corporate bond equivalent
yield, modified duration weighted average life and the first
Distribution Date and 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 and for a variety of
purchase prices. Purchase prices are generally expressed in 32nds (i.e.
99-16 means 99(16/32)) 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 as of November 30, 1999 to equal the assumed
purchase prices, plus accrued interest at the applicable pass-through
rate from and including November 1, 1999 to, but excluding the
Settlement Date, and converting such monthly rates to semi-annual
corporate bond equivalent rates. Assumed cash flows were determined
based on actual loan terms, the coupons set forth in each table, and
the assumptions as to prepayments, extensions and receipts of
prepayment premiums set forth in each table, and to the extent not
inconsistent herewith, based on the Maturity Assumptions as defined in
the preliminary prospectus dated October 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 in bold face above such modified
duration number in the middle pricing assumption row (i.e. the 9th
number from the top of the column containing such modified duration
number).
This material is for your private information and Banc of America 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> 48
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
SUBORDINATION PERCENTAGES
The following tables set forth subordination percentages given an
assumed prepayment speed. We cannot assure you that the Mortgage Loans
will exhibit similar prepayment characteristics, nor can we make any
other representation regarding what the actual performance of the
Mortgage Loans will be. All percentages are based on the beginning
principal balances of the related Distribution Date.
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Portfolio Mortgage Loans
--------------------------------------------------------------------------------------
During YM 0.0% 3.0% 6.0% 9.0%
During Open/Fixed Penalty 0.0% 3.0% 6.0% 9.0%
--------------------------------------------------------------------------------------
Conduit Mortgage Loans
--------------------------------------------------------------------------------------
During YM 0.0% 0.0% 0.0% 0.0%
During Open/Fixed Penalty 0.0% 0.0% 0.0% 0.0%
<CAPTION>
--------------------------------------------------------------------------------------
Scenario 1 Period
--------------------------------------------------------------------------------------
1 24 60 84
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AAA 27.17% 29.60% 34.37% 47.57%
AA 22.14% 24.12% 28.01% 38.76%
A 18.11% 19.74% 22.92% 31.72%
BBB 12.07% 13.16% 15.28% 21.14%
<CAPTION>
--------------------------------------------------------------------------------------
Scenario 2 Period
--------------------------------------------------------------------------------------
1 24 60 84
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AAA 27.17% 30.47% 36.70% 50.23%
AA 22.14% 24.83% 29.90% 40.93%
A 18.11% 20.31% 24.47% 33.49%
BBB 12.07% 13.54% 16.31% 22.32%
<CAPTION>
--------------------------------------------------------------------------------------
Scenario 3 Period
--------------------------------------------------------------------------------------
1 24 60 84
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AAA 27.17% 31.37% 39.04% 52.68%
AA 22.14% 25.56% 31.81% 42.92%
A 18.11% 20.91% 26.03% 35.12%
BBB 12.07% 13.94% 17.35% 23.41%
<CAPTION>
--------------------------------------------------------------------------------------
Scenario 4 Period
--------------------------------------------------------------------------------------
1 24 60 84
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AAA 27.17% 32.29% 41.37% 54.89%
AA 22.14% 26.31% 33.71% 44.73%
A 18.11% 21.52% 27.58% 36.59%
BBB 12.07% 14.35% 18.39% 24.40%
</TABLE>
This material is for your private information and Banc of America 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> 49
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS A-2
<TABLE>
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 84,648,789
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.1180%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
- ---------------------------------------------------------------------------------------------------------------------
Conduit Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
99-16 7.25 7.38 7.45 7.50 7.58 7.70
99-18 7.24 7.36 7.43 7.48 7.56 7.68
99-20 7.22 7.34 7.40 7.45 7.53 7.65
99-22 7.21 7.32 7.38 7.43 7.51 7.62
99-24 7.19 7.30 7.36 7.41 7.48 7.59
99-26 7.18 7.29 7.34 7.38 7.46 7.57
99-28 7.16 7.27 7.32 7.36 7.43 7.54
99-30 7.15 7.25 7.30 7.34 7.41 7.51
100-00 7.13 7.23 7.28 7.32 7.38 7.49
100-02 7.12 7.21 7.26 7.29 7.36 7.46
100-04 7.11 7.19 7.24 7.27 7.33 7.43
100-06 7.09 7.18 7.22 7.25 7.31 7.41
100-08 7.08 7.16 7.20 7.23 7.28 7.38
100-10 7.06 7.14 7.18 7.20 7.26 7.35
100-12 7.05 7.12 7.16 7.18 7.23 7.33
100-14 7.03 7.10 7.14 7.16 7.21 7.30
100-16 7.02 7.08 7.12 7.13 7.19 7.27
WAL (Yrs) 5.19 4.02 3.52 3.15 2.88 2.65
Mod Dur 4.19 3.37 3.00 2.72 2.51 2.33
First Prin Date 04/20/2004 11/20/2002 10/20/2002 07/20/2002 03/20/2002 11/20/2001
Final Prin Date 09/20/2005 11/20/2004 06/20/2004 10/20/2003 05/20/2003 01/20/2003
Prin Window 18 25 21 16 15 15
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
-----------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT
PENALTIES
This material is for your private information and Banc of America 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> 50
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS A-3
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 232,000,439
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.4300%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
- ---------------------------------------------------------------------------------------------------------------------
Conduit Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
99-16 7.57 7.58 7.59 7.62 7.66 7.70
99-18 7.55 7.57 7.58 7.61 7.65 7.68
99-20 7.54 7.56 7.57 7.60 7.63 7.67
99-22 7.53 7.54 7.55 7.58 7.62 7.65
99-24 7.52 7.53 7.54 7.57 7.60 7.64
99-26 7.50 7.52 7.53 7.55 7.59 7.62
99-28 7.49 7.50 7.51 7.54 7.57 7.61
99-30 7.48 7.49 7.50 7.53 7.56 7.59
100-00 7.47 7.48 7.49 7.51 7.54 7.58
100-02 7.45 7.46 7.47 7.50 7.53 7.56
100-04 7.44 7.45 7.46 7.49 7.51 7.55
100-06 7.43 7.44 7.45 7.47 7.50 7.53
100-08 7.42 7.42 7.43 7.46 7.49 7.52
100-10 7.40 7.41 7.42 7.44 7.47 7.50
100-12 7.39 7.40 7.41 7.43 7.46 7.49
100-14 7.38 7.39 7.39 7.42 7.44 7.47
100-16 7.37 7.37 7.38 7.40 7.43 7.46
WAL (Yrs) 6.55 6.16 5.95 5.70 5.43 5.15
Mod Dur 5.00 4.77 4.63 4.47 4.29 4.10
First Prin Date 09/20/2005 11/20/2004 06/20/2004 10/20/2003 05/20/2003 01/20/2003
Final Prin Date 09/20/2007 03/20/2007 01/20/2007 12/20/2006 08/20/2006 06/20/2006
Prin Window 25 29 32 39 40 42
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
-----------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT
PENALTIES
This material is for your private information and Banc of America 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> 51
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS A-4
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 110,485,256
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.6626%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
- ---------------------------------------------------------------------------------------------------------------------
Conduit Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
98-30 7.83 7.82 7.82 7.82 7.82 7.82
99-02 7.81 7.80 7.80 7.79 7.79 7.79
99-06 7.79 7.78 7.78 7.77 7.77 7.77
99-10 7.76 7.76 7.75 7.75 7.75 7.75
99-14 7.74 7.74 7.73 7.73 7.73 7.73
99-18 7.72 7.71 7.71 7.71 7.71 7.71
99-22 7.70 7.69 7.69 7.69 7.69 7.68
99-26 7.68 7.67 7.67 7.67 7.66 7.66
99-30 7.66 7.65 7.65 7.64 7.64 7.64
100-02 7.64 7.63 7.63 7.62 7.62 7.62
100-06 7.62 7.61 7.61 7.60 7.60 7.60
100-10 7.60 7.59 7.58 7.58 7.58 7.57
100-14 7.58 7.57 7.56 7.56 7.56 7.55
100-18 7.56 7.55 7.54 7.54 7.53 7.53
100-22 7.54 7.53 7.52 7.52 7.51 7.51
100-26 7.52 7.51 7.50 7.49 7.49 7.49
100-30 7.50 7.49 7.48 7.47 7.47 7.46
WAL (Yrs) 8.54 8.33 8.20 8.07 7.93 7.78
Mod Dur 6.05 5.94 5.88 5.81 5.73 5.65
First Prin Date 09/20/2007 03/20/2007 01/20/2007 12/20/2006 08/20/2006 06/20/2006
Final Prin Date 10/20/2008 10/20/2008 10/20/2008 10/20/2008 10/20/2008 10/20/2008
Prin Window 14 20 22 23 27 29
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
-----------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT
PENALTIES
This material is for your private information and Banc of America 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> 52
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS A-1C
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 103,960,279
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.2290%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
- ---------------------------------------------------------------------------------------------------------------------
Conduit Mortgage Loans
- ---------------------------------------------------------------------------------------------------------------------
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
99-00 7.48 7.48 7.48 7.48 7.48 7.48
99-04 7.46 7.46 7.46 7.46 7.46 7.46
99-08 7.43 7.43 7.43 7.43 7.43 7.43
99-12 7.40 7.40 7.40 7.40 7.40 7.40
99-16 7.37 7.37 7.37 7.37 7.37 7.37
99-20 7.34 7.34 7.34 7.34 7.34 7.34
99-24 7.31 7.31 7.31 7.31 7.31 7.31
99-28 7.28 7.28 7.28 7.28 7.28 7.28
100-00 7.25 7.25 7.25 7.25 7.25 7.25
100-04 7.22 7.22 7.22 7.22 7.22 7.22
100-08 7.19 7.19 7.19 7.19 7.19 7.19
100-12 7.16 7.16 7.16 7.16 7.16 7.16
100-16 7.13 7.13 7.13 7.13 7.13 7.13
100-20 7.10 7.10 7.10 7.10 7.10 7.10
100-24 7.07 7.07 7.07 7.07 7.07 7.07
100-28 7.05 7.05 7.05 7.05 7.05 7.05
101-00 7.02 7.02 7.02 7.02 7.02 7.02
WAL (Yrs) 5.50 5.50 5.50 5.50 5.50 5.50
Mod Dur 4.25 4.25 4.25 4.25 4.25 4.25
First Prin Date 12/20/1999 12/20/1999 12/20/1999 12/20/1999 12/20/1999 12/20/1999
Final Prin Date 01/20/2008 01/20/2008 01/20/2008 01/20/2008 01/20/2008 01/20/2008
Prin Window 98 98 98 98 98 98
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- ----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
-----------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT
PENALTIES
This material is for your private information and Banc of America 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> 53
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,23 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS A-2C
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 114,048,463
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.4720%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
Conduit Mortgage Loans
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
99-00 7.67 7.66 7.66 7.66 7.66 7.65
99-04 7.65 7.64 7.64 7.64 7.63 7.63
99-08 7.63 7.62 7.62 7.62 7.61 7.61
99-12 7.60 7.60 7.60 7.60 7.59 7.59
99-16 7.58 7.58 7.58 7.58 7.57 7.57
99-20 7.56 7.56 7.56 7.56 7.55 7.55
99-24 7.54 7.54 7.54 7.54 7.53 7.53
99-28 7.52 7.52 7.52 7.51 7.51 7.51
100-00 7.50 7.50 7.50 7.49 7.49 7.49
100-04 7.48 7.48 7.48 7.47 7.47 7.47
100-08 7.46 7.46 7.46 7.45 7.45 7.45
100-12 7.44 7.44 7.44 7.43 7.43 7.43
100-16 7.42 7.42 7.42 7.41 7.41 7.41
100-20 7.40 7.40 7.40 7.39 7.39 7.39
100-24 7.38 7.38 7.38 7.37 7.37 7.37
100-28 7.36 7.36 7.36 7.35 7.35 7.35
101-00 7.34 7.34 7.34 7.33 7.33 7.33
WAL (Yrs) 8.59 8.59 8.59 8.59 8.59 8.59
Mod Dur 6.12 6.12 6.12 6.12 6.12 6.13
First Prin Date 01/20/2008 01/20/2008 01/20/2008 01/20/2008 01/20/2008 01/20/2008
Final Prin Date 10/20/2008 10/20/2008 10/20/2008 10/20/2008 10/20/2008 10/20/2008
Prin Window 10 10 10 10 10 10
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT PENALTIES
This material is for your private information and Banc of America 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> 54
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS B
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 56,107,669
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.6626%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
Conduit Mortgage Loans
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
98-08 7.93 7.91 7.90 7.89 7.89 7.88
98-12 7.91 7.89 7.88 7.87 7.87 7.86
98-16 7.89 7.87 7.86 7.85 7.85 7.84
98-20 7.87 7.85 7.84 7.83 7.83 7.82
98-24 7.85 7.83 7.82 7.81 7.81 7.80
98-28 7.83 7.81 7.80 7.79 7.79 7.78
99-00 7.81 7.79 7.78 7.77 7.76 7.76
99-04 7.79 7.77 7.76 7.75 7.74 7.74
99-08 7.77 7.75 7.74 7.73 7.72 7.72
99-12 7.74 7.73 7.72 7.71 7.70 7.70
99-16 7.72 7.71 7.70 7.69 7.68 7.68
99-20 7.70 7.69 7.68 7.67 7.66 7.66
99-24 7.68 7.67 7.66 7.65 7.64 7.64
99-28 7.66 7.65 7.64 7.63 7.62 7.62
100-00 7.65 7.63 7.62 7.61 7.60 7.60
100-04 7.63 7.61 7.60 7.59 7.58 7.58
100-08 7.61 7.59 7.58 7.57 7.56 7.56
WAL (Yrs) 8.92 8.91 8.90 8.90 8.90 8.90
Mod Dur 6.23 6.23 6.23 6.23 6.23 6.23
First Prin Date 10/20/2008 10/20/2008 10/20/2008 10/20/2008 10/20/2008 10/20/2008
Final Prin Date 11/20/2008 11/20/2008 11/20/2008 11/20/2008 11/20/2008 11/20/2008
Prin Window 2 2 2 2 2 2
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT PENALTIES
This material is for your private information and Banc of America 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> 55
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233 (APPROXIMATE)
PRICE/YIELD TABLE - CLASS C
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 44,886,135
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.6626%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
Conduit Mortgage Loans
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
97-00 8.12 8.11 8.10 8.09 8.09 8.08
97-04 8.10 8.09 8.08 8.07 8.07 8.06
97-08 8.08 8.07 8.06 8.05 8.05 8.04
97-12 8.06 8.05 8.04 8.03 8.02 8.02
97-16 8.04 8.03 8.02 8.01 8.00 8.00
97-20 8.02 8.01 8.00 7.99 7.98 7.98
97-24 8.00 7.99 7.98 7.97 7.96 7.96
97-28 7.98 7.97 7.96 7.95 7.94 7.94
98-00 7.96 7.95 7.94 7.93 7.92 7.92
98-04 7.94 7.93 7.92 7.91 7.90 7.90
98-08 7.92 7.91 7.90 7.89 7.88 7.88
98-12 7.90 7.89 7.88 7.87 7.86 7.86
98-16 7.88 7.87 7.86 7.85 7.84 7.84
98-20 7.86 7.85 7.84 7.83 7.82 7.81
98-24 7.84 7.83 7.82 7.81 7.80 7.79
98-28 7.82 7.81 7.80 7.79 7.78 7.77
99-00 7.80 7.79 7.78 7.77 7.76 7.75
WAL (Yrs) 9.09 9.07 9.06 9.05 9.05 9.04
Mod Dur 6.29 6.28 6.28 6.28 6.27 6.27
First Prin Date 11/20/2008 11/20/2008 11/20/2008 11/20/2008 11/20/2008 11/20/2008
Final Prin Date 01/20/2009 01/20/2009 01/20/2009 01/20/2009 01/20/2009 01/20/2009
Prin Window 3 3 3 3 3 3
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY%)
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT PENALTIES
This material is for your private information and Banc of America 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> 56
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
PRICE/YIELD TABLE - CLASS D
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 67,329,203
Settlement Date: 11/30/99 Initial Pass-Through Rate: 7.6626%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
During YM 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
During Open/Fixed Penalty 0.00% 3.00% 4.50% 6.00% 7.50% 9.00%
Conduit Mortgage Loans
During YM 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Scenario 6
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
93-14 8.72 8.70 8.69 8.68 8.68 8.67
93-18 8.69 8.68 8.67 8.66 8.65 8.65
93-22 8.67 8.66 8.65 8.64 8.63 8.62
93-26 8.65 8.64 8.63 8.62 8.61 8.60
93-30 8.63 8.61 8.61 8.60 8.59 8.58
94-02 8.61 8.59 8.58 8.58 8.57 8.56
94-06 8.59 8.57 8.56 8.56 8.55 8.54
94-10 8.57 8.55 8.54 8.53 8.53 8.52
94-14 8.55 8.53 8.52 8.51 8.51 8.50
94-18 8.53 8.51 8.50 8.49 8.48 8.48
94-22 8.50 8.49 8.48 8.47 8.46 8.46
94-26 8.48 8.47 8.46 8.45 8.44 8.43
94-30 8.46 8.45 8.44 8.43 8.42 8.41
95-02 8.44 8.42 8.42 8.41 8.40 8.39
95-06 8.42 8.40 8.40 8.39 8.38 8.37
95-10 8.40 8.38 8.38 8.37 8.36 8.35
95-14 8.38 8.36 8.35 8.35 8.34 8.33
WAL (Yrs) 9.16 9.15 9.15 9.14 9.14 9.14
Mod Dur 6.25 6.25 6.25 6.25 6.25 6.25
First Prin Date 01/20/2009 01/20/2009 01/20/2009 01/20/2009 01/20/2009 01/20/2009
Final Prin Date 02/20/2009 02/20/2009 02/20/2009 02/20/2009 02/20/2009 02/20/2009
Prin Window 2 2 2 2 2 2
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY)%
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY)%
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT PENALTIES
This material is for your private information and Banc of America 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> 57
NATIONSLINK FUNDING CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-2
CLASS A-2, A-3, A-4, A-1C, A-2C, X, B, C AND D CERTIFICATES
$813,466,233
(APPROXIMATE)
PRICE/YIELD TABLE - CLASS X
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Security ID: NationsLink 99-2 Initial Balance: 1,115,186,747
Settlement Date: 11/30/99 Initial Pass-Through Rate: 0.5809%
Accrual Start Date: 11/1/99
First Pay Date: 12/20/99
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Portfolio Mortgage Loans
During YM 6.00% 6.00% 6.00% 6.00% 6.00%
During Open/Fixed Penalty 0.00% 25.00% 50.00% 75.00% 100.00%
Conduit Mortgage Loans
During YM 0.00% 0.00% 0.00% 0.00% 0.00%
During Open/Fixed Penalty 0.00% 25.00% 50.00% 75.00% 100.00%
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
Prepayment (CPR) Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
2-11.0 14.21 13.90 13.70 13.55 13.26
2-11.5 13.96 13.65 13.45 13.31 13.02
2-12.0 13.72 13.41 13.21 13.07 12.78
2-12.5 13.48 13.17 12.97 12.83 12.54
2-13.0 13.24 12.93 12.73 12.60 12.31
2-13.5 13.00 12.70 12.50 12.36 12.08
2-14.0 12.77 12.46 12.27 12.13 11.85
2-14.5 12.53 12.24 12.04 11.91 11.62
2-15.0 12.31 12.01 11.82 11.68 11.40
2-15.5 12.08 11.79 11.59 11.46 11.18
2-16.0 11.86 11.56 11.38 11.24 10.96
2-16.5 11.64 11.35 11.16 11.03 10.75
2-17.0 11.42 11.13 10.94 10.81 10.53
2-17.5 11.21 10.92 10.73 10.60 10.32
2-18.0 10.99 10.71 10.52 10.40 10.11
2-18.5 10.79 10.50 10.32 10.19 9.91
2-19.0 10.58 10.29 10.11 9.99 9.71
WAL (Yrs) 6.43 6.41 6.39 6.38 6.29
Mod Dur 2.74 2.76 2.78 2.79 2.80
First Prin Date 12/20/1999 12/20/1999 12/20/1999 12/20/1999 12/20/1999
Final Prin Date 08/20/2013 08/20/2013 08/20/2013 08/20/2013 05/20/2013
Prin Window 165 165 165 165 162
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Money Market Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY)%
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/12 4.700
Prepay Rates are a Constant % of CPR 1/4 5.150
100% of All Prepayment Premiums are assumed to be collected 1/2 5.600
Prepayment Premiums are allocated to one or more classes 1 5.650
of the offered certificates as described under "Description of the Certificates-Distributions- 2 5.950
Distributions of Prepayment Premiums" in the Prospectus Supplement 5 6.300
No Extensions on any Mortgage Loan
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Assumptions Treasury Curve as of 10/26/99
- -----------------------------------------------------------------------------------------------------------------------------------
1% Cleanup Call is Not Exercised Term (Yrs) Yield (BEY)%
---------------------------------
<S> <C> <C>
Initial Balance is calculated using the projected Unpaid Principal Balance as of Nov 10, 1999 1/4 5.130
Prepay Rates are a Constant % of CPR 1/2 5.330
100% of All Prepayment Premiums are assumed to be collected 1 5.530
Prepayment Premiums are allocated to one or more classes 2 5.970
of the offered certificates as described under "Description of the Certificates-Distributions- 5 6.140
Distributions of Prepayment Premiums" in the Prospectus Supplement 10 6.230
No Extensions on any Mortgage Loan 30 6.370
No Delinquencies on any Mortgage Loan
No Defaults on any Mortgage Loan
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
RATING AGENCIES DO NOT ADDRESS THE LIKELIHOOD OF RECEIPT OF PREPAYMENT PENALTIES
This material is for your private information and Banc of America 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.
