SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 25, 1996
TRUST CREATED BY PRUDENTIAL SECURITIES SECURED
FINANCING CORPORATION
(under a Pooling & Servicing Agreement dated as of December
15, 1995, which Trust is the issuer of Commercial Mortgage
Pass-Through
Certificates, Series 1995-MCF-2)
================================
(Exact name of Registrant as specified in its Charter)
New York 33-58522-07 36-4055669
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Formation) File No.) Identification No.)
LaSalle National Bank, Trustee, 135 South LaSalle Street
Suite 200, Chicago, Illinois 60603
Attention: Asset-backed Securities (Zip Code)
PSSFC 1996 MCF-2
(Address of principal executive office)
Registrant's telephone number, including area code: (800) 246-5761
The Exhibit Index is on page 2.
Page - 1
<PAGE>
ITEM 5. OTHER EVENTS
Attached hereto is a copy of the September 25, 1996, Monthly Remittance
Statement provided to the Certificateholders by the Trustee.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
Monthly Remittance Statement to the Certificateholders dated as of
September 25, 1996.
Loan data file as of the September 1996 Determination Date.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MIDLAND LOAN SERVICES, L.P., not in its individual
capacity but solely as a duly authorized agent of
the Registrant pursuant to Section 3.22 of the
Pooling & Servicing Agreement dated as of December
15, 1995
By: Midland Data Systems, Inc., its General
Partner
/s/ Lawrence D. Ashley
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: September 25, 1996
EXHIBIT INDEX
Sequential
Page Number
Document
Monthly Remittance Statement to the Certificateholders 3
dated as of September 25, 1996
Loan data file as of September 1996 18
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Mary Collier (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
Statement Date: 09/25/96
Payment Date: 09/25/96
Prior Payment: 08/26/96
Record Date: 08/30/96
WAC: 8.798875%
WAMM: 139
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
<TABLE>
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
A-1 75,000,000.00 71,193,564.91 280,432.60
74436JCT2 1000.000000 949.247532 3.739101
A-2 65,040,000.00 65,040,000.00 0.00
74436JCU9 1000.000000 1000.000000 0.000000
A-EC 222,286,173.00 N 218,479,737.91 0.00
74436JCV7 1000.000000 982.875970 0.000000
B 8,891,000.00 8,891,000.00 0.00
74436JCW5 1000.000000 1000.000000 0.000000
C 13,337,000.00 13,337,000.00 0.00
74436JCX3 1000.000000 1000.000000 0.000000
D 8,892,000.00 8,892,000.00 0.00
74436JCY1 1000.000000 1000.000000 0.000000
E 15,560,000.00 15,560,000.00 0.00
74436JCZ8 1000.000000 1000.000000 0.000000
F 5,557,000.00 5,557,000.00 0.00
74436JDA2 1000.000000 1000.000000 0.000000
G 12,226,000.00 12,226,000.00 0.00
74436JDB0 1000.000000 1000.000000 0.000000
H 11,114,000.00 11,114,000.00 0.00
74436JDDC8 1000.000000 1000.000000 0.000000
J-1 6,669,173.25 6,669,173.25 0.00
74436JDD6 1000.000000 1000.000000 0.000000
J-2 6,669,173.25 N 6,669,173.25 0.00
74436JDE4 1000.000000 1000.000000 0.000000
R 0.00 0.00 0.00
74436JDF1 1000.000000 0.000000 0.000000
- ---------- ---------------- ---------------- ----------------
222,286,173.25 218,479,738.16 280,432.60
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 0.00 0.00 70,913,132.31
74436JCT2 0.000000 0.000000 945.508431
A-2 0.00 0.00 65,040,000.00
74436JCU9 0.000000 0.000000 1000.000000
A-EC 0.00 0.00 218,199,305.31
74436JCV7 0.000000 0.000000 981.614386
B 0.00 0.00 8,891,000.00
74436JCW5 0.000000 0.000000 1000.000000
C 0.00 0.00 13,337,000.00
74436JCX3 0.000000 0.000000 1000.000000
D 0.00 0.00 8,892,000.00
74436JCY1 0.000000 0.000000 1000.000000
E 0.00 0.00 15,560,000.00
74436JCZ8 0.000000 0.000000 1000.000000
F 0.00 0.00 5,557,000.00
74436JDA2 0.000000 0.000000 1000.000000
G 0.00 0.00 12,226,000.00
74436JDB0 0.000000 0.000000 1000.000000
H 0.00 0.00 11,114,000.00
74436JDDC8 0.000000 0.000000 1000.000000
J-1 0.00 0.00 6,669,173.25
74436JDD6 0.000000 0.000000 1000.000000
J-2 0.00 0.00 6,669,173.25
74436JDE4 0.000000 0.000000 1000.000000
R 0.00 0.00 0.00
74436JDF1 0.000000 0.000000 0.000000
- ---------- ---------------- ---------------- ----------------
0.00 0.00 218,199,305.56
================ ================ ================
Total P&I Payment 1,838,936.27
============
<TABLE>
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
A-1 387,115.01 0.00 6.525000%
74436JCT2 5.161533 0.000000 Fixed
A-2 370,728.00 0.00 6.840000%
74436JCU9 5.700000 0.000000 Fixed
A-EC 266,732.35 0.00 1.465027%
74436JCV7 1.199950 0.000000 1.464329%
B 51,160.30 0.00 6.905000%
74436JCW5 5.754167 0.000000 Fixed
C 77,965.88 0.00 7.015000%
74436JCX3 5.845833 0.000000 Fixed
D 53,092.65 0.00 7.165000%
74436JCY1 5.970833 0.000000 Fixed
E 98,676.33 0.00 7.610000%
74436JCZ8 6.341666 0.000000 Fixed
F 39,660.81 0.00 8.564508%
74436JDA2 7.137090 0.000000 8.564555%
G 87,258.06 0.00 8.564508%
74436JDB0 7.137090 0.000000 8.564555%
H 79,321.61 0.00 8.564508%
74436JDDC8 7.137089 0.000000 8.564555%
J-1 0.00 0.00 None
74436JDD6 0.000000 0.000000 0.000000%
J-2 46,792.67 0.00 8.564508%
74436JDE4 7.016262 0.000000 8.564555%
R 0.00 0.00 None
74436JDF1 0.000000 0.000000 0.000000%
- ---------- ---------------- ---------------- ----------------
1,558,503.67 0.00 0.00
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 4
<PAGE>
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
<TABLE>
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
A-L-1 75,000,000.00 71,193,564.91 280,432.60
None 1000.000000 949.247532 3.739101
A-L-2 65,040,000.00 65,040,000.00 0.00
None 1000.000000 1000.000000 0.000000
B-L 8,891,000.00 8,891,000.00 0.00
None 1000.000000 1000.000000 0.000000
C-L 13,337,000.00 13,337,000.00 0.00
None 1000.000000 1000.000000 0.000000
D-L 8,892,000.00 8,892,000.00 0.00
None 1000.000000 1000.000000 0.000000
E-L 15,560,000.00 15,560,000.00 0.00
None 1000.000000 1000.000000 0.000000
F-L 5,557,000.00 5,557,000.00 0.00
None 1000.000000 1000.000000 0.000000
G-L 12,226,000.00 12,226,000.00 0.00
None 1000.000000 55.001172 0.000000
H-L 11,114,000.00 11,114,000.00 0.00
None 1000.000000 1000.000000 0.000000
J-L 6,669,173.00 6,669,173.25 0.00
None 1000.000000 1000.000037 0.000000
LR 0.00 0.00 0.00
74436JDG9 1000.000000 0.000000 0.000000
- ---------- ---------------- ---------------- ----------------
222,286,173.00 218,479,738.16 280,432.60
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-L-1 0.00 0.00 70,913,132.31
None 0.000000 0.000000 945.508431
A-L-2 0.00 0.00 65,040,000.00
None 0.000000 0.000000 1000.000000
B-L 0.00 0.00 8,891,000.00
None 0.000000 0.000000 1000.000000
C-L 0.00 0.00 13,337,000.00
None 0.000000 0.000000 1000.000000
D-L 0.00 0.00 8,892,000.00
None 0.000000 0.000000 1000.000000
E-L 0.00 0.00 15,560,000.00
None 0.000000 0.000000 1000.000000
F-L 0.00 0.00 5,557,000.00
None 0.000000 0.000000 1000.000000
G-L 0.00 0.00 12,226,000.00
None 0.000000 0.000000 55.001172
H-L 0.00 0.00 11,114,000.00
None 0.000000 0.000000 1000.000000
J-L 0.00 0.00 6,669,173.25
None 0.000000 0.000000 1000.000037
LR 0.00 0.00 0.00
74436JDG9 0.000000 0.000000 0.000000
- ---------- ---------------- ---------------- ----------------
0.00 0.00 218,199,305.56
================ ================ ================
Total P&I Payment 1,838,936.27
============
Page - 5
<PAGE>
<TABLE>
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
A-L-1 508,114.86 0.00 8.564508%
None 6.774865 0.000000 8.564555%
A-L-2 464,196.31 0.00 8.564508%
None 7.137090 0.000000 8.564555%
B-L 63,455.87 0.00 8.564508%
None 7.137090 0.000000 8.564555%
C-L 95,187.37 0.00 8.564508%
None 7.137090 0.000000 8.564555%
D-L 63,463.00 0.00 8.564508%
None 7.137090 0.000000 8.564555%
E-L 111,053.11 0.00 8.564508%
None 7.137089 0.000000 8.564555%
F-L 39,660.81 0.00 8.564508%
None 7.137090 0.000000 8.564555%
G-L 87,258.06 0.00 8.564508%
None 0.392548 0.000000 8.564555%
H-L 79,321.61 0.00 8.564508%
None 7.137089 0.000000 8.564555%
J-L 46,792.67 0.00 8.564508%
None 7.016263 0.000000 8.564555%
LR 0.00 0.00 None
74436JDG9 0.000000 0.000000 0.000000%
- ---------- ---------------- ---------------- ----------------
1,558,503.67 0.00
================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
P&I ADVANCE INCLUDED IN DISTRIBUTION
Amount Per
Class Amount $1 000
A-1 ........... 0.00 0.000000
A-2 ........... 0.00 0.000000
A-EC .......... 0.00 0.000000
B ............. 0.00 0.000000
C ............. 0.00 0.000000
D ............. 0.00 0.000000
E ............. 0.00 0.000000
F ............. 0.00 0.000000
G ............. 0.00 0.000000
H ............. 0.00 0.000000
J-1 ........... NA 0.000000
J-2 ........... 44,226.61 0.006631
INTEREST SHORTFALL
Amount Per
Class Amount $1 000
A-1 ........... 0.00 0.000000
A-2 ........... 0.00 0.000000
A-EC .......... 0.00 0.000000
B ............. 0.00 0.000000
C ............. 0.00 0.000000
D ............. 0.00 0.000000
E ............. 0.00 0.000000
F ............. 0.00 0.000000
G ............. 0.00 0.000000
H ............. 0.00 0.000000
J-1 ........... NA 0.000000
J-2 ........... 805.82 0.000121
Remittance Interest 1,558,503.67
Remittance Principal 280,432.60
Pooled Available Funds 1,838,936.27
Page - 6
<PAGE>
BEGINNING POOL
Balance 218,479,738.15
Count 84
ENDING POOL
Balance 218,199,305.55
Count 84
Additional Special
Servicing Servicing Servicing Disposition
Fee Compensation Fee Fee
41,599.89 0.00 805.82 0.00
Prepayment Net
Premiums Default Default
Received Interest Interest
0.00 0.00 0.00
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
09/25/96 . 1 2,758,145 0 0 0 0
/ ........ 1.19% 1.262% 0.00% 0.000% 0.00% 0.000%
08/26/96 . 0 0 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
07/25/96 . 0 0 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
06/25/96 . 1 1,143,625 2 4,425,609 0 0
/ ........ 1.18% 0.518% 2.35% 2.003% 0.00% 0.000%
05/28/96 . 1 1,144,707 0 0 0 0
/ ........ 1.18% 0.517% 0.00% 0.000% 0.00% 0.000%
04/25/96 . 0 0 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
03/25/96 . 0 0 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
02/26/96 . 0 0 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/25/96 . 0 0 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
<TABLE>
<CAPTION>
Foreclosure/
Distribution Bankruptcy (1) REO (1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
09/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
08/26/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
07/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
06/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
05/28/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
04/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
03/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
02/26/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
01/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
<FN>
(1) Foreclosure and REO Totals are Included in the
Appropriate Delinquency Aging Category
</FN>
</TABLE>
Page - 7
<PAGE>
Distribution Modifications Prepayments
Date # Balance # Balance
09/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
08/26/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
07/25/96 . 0 0 1 1,656,642
/ ........ 0.00% 0.000% 1.18% 0.751%
06/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
05/28/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
04/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
03/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
02/26/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
01/25/96 . 0 0 0 0
/ ........ 0.00% 0.000% 0.00% 0.000%
Distribution Next Weighted Avg.
Date Coupon Remit
09/25/96 ...... 8.79893% 8.5646%
08/26/96 ...... 8.79888% 8.5645%
07/25/96 ...... 8.79882% 8.5645%
06/25/96 ...... 8.80163% 8.5672%
05/28/96 ...... 8.80158% 8.5671%
04/25/96 ...... 8.80153% 8.5671%
03/25/96 ...... 8.80147% 8.5670%
02/26/96 ...... 8.80142% 8.5670%
01/25/96 ...... 8.80137% 8.5669%
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
Disclosure Paid Current
Doc Thru P&I
Control # Period Date Advance
31 199608 07/01/96 24,002.78
37 199608 08/06/96 20,223.83
- -- ------ -------- ----------
TOTALS: 44,226.61
==========
Page - 8
<PAGE>
<TABLE>
<CAPTION>
Outstanding
Disclosure Outstanding Property
Doc P&I Protection Advance Loan
Control # Advances(1) Advances Description (2) Status (3)
<S> <C> <C> <C> <C>
31 48,004.80 0.00 1 0
37 20,223.83 0.00 B 0
- -- ---------- ---------- -- --
TOTALS: 68,228.63 0.00 0
========== ========== ==
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
(2) Advance Description:
A. P&I Advance - Loan in Grace Period
B. P&I Advance - Late Payment but less one month delinq
1. P&I Advance - Loan delinquent 1 month
2. P&I Advance - Loan delinquent 2 months
3. P&I Advance - Loan delinquent 3 months
(3) Loan Status:
1. Specially Serviced
2. Foreclosure
3. Bankruptcy
4. REO
5. Prepaid in Full
6. DPO
7. Foreclosure Sale
8. Bankruptcy Sale
9. REO Disposition
10. Modification/Workout
</FN>
</TABLE>
Special
Disclosure Servicer
Doc Transfer Foreclosure Bankruptcy REO
Control # Date Date Date Date
31
37
TOTALS:
Prudential Securities Secured Financing Corporation
Midland Loan Services L.P. as Servicer
Lennar Partners, Inc. as Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1995-MCF-2
ABN AMRO Acct: 67-7442-30-3
DISTRIBUTION OF PRINCIPAL BALANCES
Current
Scheduled Scheduled
Principal Number Principal Based on
Balances of Loans Balance Balance
$0 to $500000 0 0 0.00%
$500000 to $750000 5 3,421,236 1.57%
$750000 to $1000000 7 6,121,023 2.81%
$1000000 to $1250000 6 6,790,466 3.11%
$1250000 to $1500000 13 17,771,400 8.14%
$1500000 to $1750000 5 8,341,654 3.82%
$1750000 to $2000000 3 5,630,098 2.58%
$2000000 to $2500000 10 22,015,016 10.09%
$2500000 to $3000000 10 27,450,253 12.58%
$3000000 to $3500000 5 16,067,835 7.36%
$3500000 to $4000000 6 22,558,704 10.34%
$4000000 to $4500000 4 17,505,255 8.02%
$4500000 to $5000000 1 4,703,091 2.16%
$5000000 to $5500000 2 10,667,478 4.89%
$5500000 to $6000000 0 0 0.00%
$6000000 to $6500000 2 12,447,378 5.70%
$6500000 to $7000000 2 13,188,981 6.04%
$7000000 to $7500000 1 7,281,807 3.34%
$7500000 to $8000000 0 0 0.00%
$8000000 & above 2 16,237,631 7.44%
- --------------------------- --- ----------- ------
84 218,199,306 100.00%
=== =========== ======
Average Scheduled Balance is 2,597,611
Maximum Scheduled Balance is 8,185,390
Minimum Scheduled Balance is 592,483
Page - 9
<PAGE>
DISTRIBUTION OF PROPERTY TYPES
Scheduled
Property Number Principal Based on
Types of Loans Balance Balance
Retail 31 95,947,254 43.97%
Multi-Family Housing 21 44,636,931 20.46%
Light Industrial 9 16,968,683 7.78%
Office 7 13,737,539 6.30%
Congregate Care 3 12,934,883 5.93%
Office/Retail 2 10,089,656 4.62%
Office/Multi-Fam\Retail 1 7,281,807 3.34%
Self Service Storage 3 4,066,911 1.86%
Mobile Home Park 2 3,604,683 1.65%
Ind./Warehouse/Office 2 3,082,914 1.41%
Hospitality 1 2,936,609 1.35%
Other 2 2,911,436 1.33%
--- ----------- ------
Total 84 218,199,306 100.00%
=== =========== ======
DISTRIBUTION OF MORTGAGE INTEREST RATES
Current
Mortgage Scheduled
Interest Number Principal Based on
Rate of Loans Balance Balance
7.500% or less 0 0 0.00%
7.500% to 7.750% 0 0 0.00%
7.750% to 8.000% 3 13,317,038 6.10%
8.000% to 8.250% 6 23,803,024 10.91%
8.250% to 8.500% 10 25,081,518 11.49%
8.500% to 8.750% 14 51,773,553 23.73%
8.750% to 9.000% 16 27,649,923 12.67%
9.000% to 9.250% 14 30,168,773 13.83%
9.250% to 9.500% 8 18,483,358 8.47%
9.500% to 9.750% 10 22,792,246 10.45%
9.750% to 10.000 2 3,996,793 1.83%
10.000% to 10.25 1 1,133,080 0.52%
10.250% to 10.50 0 0 0.00%
10.500% to 10.75 0 0 0.00%
10.750% & above 0 0 0.00%
- --------------------------- --- ----------- ------
Total 84 218,199,306 100.00%
=== =========== ======
Weighted Average Mortgage Interest Rate is 8.7989%
Minimum Mortgage Interest Rate is 7.8900%
Maximum Mortgage Interest Rate is 10.0600%
Page - 10
<PAGE>
GEOGRAPHIC DISTRIBUTION
Scheduled
Geographic Number Principal Based on
Location of Loans Balance Balance
California 11 36,830,039 16.88%
Texas 14 31,005,852 14.21%
Massachusetts 4 19,382,408 8.88%
Florida 5 18,560,802 8.51%
New York 5 15,189,897 6.96%
Tennessee 2 9,367,064 4.29%
District of Columbia 2 9,155,455 4.20%
Minnesota 5 8,671,169 3.97%
Oklahoma 4 8,268,125 3.79%
Virginia 2 5,771,541 2.65%
Maryland 2 5,755,092 2.64%
Louisiana 2 5,156,388 2.36%
Colorado 3 4,346,437 1.99%
Rhode Island 1 3,940,346 1.81%
Arkansas 1 3,848,537 1.76%
Missouri 2 3,832,299 1.76%
New Jersey 2 3,122,066 1.43%
New Mexico 2 3,005,768 1.38%
Kentucky 1 2,758,145 1.26%
Nebraska 1 2,757,371 1.26%
Arizona 2 2,564,798 1.18%
Michigan 1 2,543,895 1.17%
Kansas 1 2,231,080 1.02%
Indiana 1 1,883,762 0.86%
Alaska 1 1,650,997 0.76%
Ohio 2 1,483,269 0.68%
Illinois 1 1,346,383 0.62%
Washington 1 1,288,690 0.59%
Mississippi 1 985,588 0.45%
Connecticut 1 779,489 0.36%
New Hampshire 1 716,553 0.33%
--- ----------- ------
84 218,199,306 100.00%
=== =========== ======
LOAN SEASONING
Scheduled
Number Principal Based on
Number of Years of Loans Balance Balance
1 year or less 78 202,361,524 92.74%
1+ to 2 years 5 9,175,492 4.21%
2+ to 3 years 1 6,662,290 3.05%
3+ to 4 years 0 0 0.00%
4+ to 5 years 0 0 0.00%
5+ to 6 years 0 0 0.00%
6+ to 7 years 0 0 0.00%
7+ to 8 years 0 0 0.00%
8+ to 9 years 0 0 0.00%
9+ to 10 years 0 0 0.00%
10 years or more 0 0 0.00%
- --------------------------- --- ----------- ------
Total 84 218,199,306 100.00%
=== =========== ======
Weighted Average Seasoning is 0.8
DISTRIBUTION OF AMORTIZATION TYPE
Scheduled
Number Principal Based on
Amortization Type of Loans Balance Balance
Fully Amortizing 9 26,174,979 12.00%
Amortizing Balloon 75 192,024,327 88.00%
--- ----------- ------
Total 84 218,199,306 100.00%
=== =========== ======
Page - 11
<PAGE>
DISTRIBUTION OF REMAINING TERM
FULLY AMORTIZING
FULLY AMORTIZING
Fully
Amortizing Scheduled
Mortgage Number Principal Based on
Loans of Loans Balance Balance
60 months or less 0 0 0.00%
61 to 120 months 0 0 0.00%
121 to 180 month 4 6,193,643 2.84%
181 to 240 month 5 19,981,336 9.16%
241 to 360 month 0 0 0.00%
- --------------------------- --- ----------- ------
Total 9 26,174,979 12.00%
=== =========== ======
Weighted Average Months to Maturity is 198
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Scheduled
Balloon Number Principal Based on
Mortgage Loans of Loans Balance Balance
12 months or less 0 0 0.00%
13 to 24 months 0 0 0.00%
25 to 36 months 0 0 0.00%
37 to 48 months 0 0 0.00%
49 to 60 months 1 4,703,091 2.16%
61 to 120 months 24 71,587,643 32.81%
121 to 180 month 50 115,733,593 53.04%
181 to 240 month 0 0 0.00%
- --------------------------- --- ----------- ------
Total 75 192,024,327 88.00%
=== =========== ======
Weighted Average Months to Maturity is 180
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Scheduled
Coverage Number Principal Based on
Ratio (1) of Loans Balance Balance
<S> <C> <C> <C>
1.000 or less 0 0 0.00%
1.001 to 1.125 1 7,281,807 3.34%
1.126 to 1.250 1 2,111,901 0.97%
1.251 to 1.375 10 23,542,948 10.79%
1.376 to 1.500 14 34,438,371 15.78%
1.501 to 1.625 16 46,292,654 21.22%
1.626 to 1.750 22 62,953,490 28.85%
1.751 to 1.875 7 13,839,895 6.34%
1.876 to 2.000 5 9,061,500 4.15%
2.001 to 2.125 2 2,602,569 1.19%
2.126 to 2.250 2 7,997,591 3.67%
2.251 to 2.375 1 3,006,620 1.38%
2.376 to 2.500 1 817,563 0.37%
2.501 to 2.625 0 0 0.00%
2.626 & above 0 0 0.00%
Unknown 2 4,252,397 1.95%
--- ----------- ------
Total 84 218,199,306 100.00%
=== =========== ======
Weighted Average Debt Service Coverage Ratio is 150.868%
<FN>
(1) Debt Service Coverage Ratios are calculated as described in the prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level. Neither the Trustee, Servicer, Special Servicer
or Underwriter makes any representation as to the accuracy of the data
provided by the borrower for this calculation.
</FN>
</TABLE>
Page - 12
<PAGE>
NOI AGING
Scheduled
Number Principal Based on
NOI Date of Loans Balance Balance
1 year or less 77 205,379,192 94.12%
1+ to 2 years 7 12,820,114 5.88%
2+ to above 0 0 0.00%
Unknown 0 0 0.00%
--- ----------- ------
Total 84 218,199,306 100.00%
=== =========== ======
LOAN LEVEL DETAIL
Special
Offering Servicer
Circular Property Transfer Maturity
Control # Type Date State Date
1 Retail -- MA 01/01/2011
2 Retail -- MA 01/01/2011
3 Restaurant -- DC 11/01/2015
4 Multi-Family Housing -- NY 11/01/2005
5 Restaurant -- FL 12/01/2005
6 Restaurant -- TN 11/01/2002
7 Retail -- CA 10/01/2010
8 Retail -- TX 01/01/2003
9 Multi-Family Housing -- TX 12/01/2002
10 Multi-Family Housing -- OK 12/01/2000
11 Office -- CA 01/01/2008
12 Retail -- CA 10/01/2010
13 Restaurant -- CA 11/01/2012
14 Retail -- CA 11/01/2010
15 Retail -- RI 11/01/2011
16 Retail -- TX 12/01/2007
17 Retail -- AR 09/01/2010
18 Retail -- LA 12/01/2005
19 Restaurant -- VA 11/01/2002
20 Restaurant -- MD 10/01/2005
21 Retail -- CA 11/01/2010
22 Multi-Family Housing -- TX 12/01/2002
23 Retail -- FL 08/01/2010
24 Retail -- FL 08/01/2010
25 Retail -- FL 08/01/2010
26 Hospitality -- TN 06/01/2010
27 Retail -- CA 10/01/2010
28 Restaurant -- NY 12/01/2014
29 Retail -- NE 12/01/2005
30 Multi-Family Housing -- MO 10/01/2005
31 Multi-Family Hous06/11/96 -- KY 09/01/2010
32 Multi-Family Housing -- NY 12/01/2005
33 Restaurant -- FL 10/01/2007
34 Office -- MN 09/01/2010
35 Retail -- MI 11/01/2005
36 Retail -- CA 12/01/2007
37 Retail -- MN 09/06/2007
38 Restaurant -- CO 12/01/2002
39 Multi-Family Housing -- KS 12/01/2002
40 Restaurant -- MD 11/01/2010
41 Restaurant -- MN 10/01/2007
42 Retail -- VA 10/01/2005
43 Retail -- NY 08/01/2005
44 Retail -- TX 11/01/2007
45 Retail -- MA 09/01/2010
46 Office -- IN 12/01/2007
47 Restaurant -- NM 12/01/2007
48 Self Service Storage -- DC 12/01/2010
49 Retail -- NJ 11/01/2007
50 Office -- CA 12/01/2007
51 Restaurant -- AZ 11/01/2010
52 Retail -- AK 09/01/2010
53 Multi-Family Hous06/11/96 -- IN 09/01/2010
54 Retail -- CA 12/01/2011
55 Multi-Family Housing -- OK 12/01/2010
56 Restaurant -- TX 11/01/2010
57 Multi-Family Housing -- LA 12/01/2007
58 Restaurant -- OK 09/01/2010
59 Office -- TX 08/01/2005
Page - 13
<PAGE>
LOAN LEVEL DETAIL, Continued
Special
Offering Servicer
Circular Property Transfer Maturity
Control # Type Date State Date
60 Multi-Family Housing -- NJ 09/01/2005
61 Retail -- IL 07/01/2010
62 Restaurant -- TX 09/01/2007
63 Multi-Family Housing -- TX 12/01/2010
64 Multi-Family Housing -- TX 11/01/2010
65 Restaurant -- CO 12/01/2002
66 Retail -- WA 12/01/2007
67 Multi-Family Housing -- TX 12/01/2007
68 Restaurant -- CA 09/01/2007
69 Multi-Family Housing -- TX 11/01/2010
70 Multi-Family Housing -- MA 12/01/2005
71 Self Service Storage -- NM 09/01/2010
72 Self Service Storage -- MO 07/01/2010
73 Retail -- TX 12/01/2007
74 Multi-Family Housing -- MS 07/01/2005
75 Office -- AZ 08/01/2007
76 Restaurant -- NY 11/01/2007
77 Restaurant -- OH 10/01/2007
78 Restaurant -- TX 12/01/2010
79 Office -- MN 12/01/2010
80 Retail -- CT 08/01/2010
81 Multi-Family Housing -- CO 09/01/2007
82 Retail -- MN 09/01/2007
83 Multi-Family Housing -- NH 08/01/2003
84 Multi-Family Housing -- OK 09/01/2005
85 Multi-Family Housing -- OH 08/01/2007
Offering Beginning Scheduled
Circular Scheduled Note Principal Prepayments
Control # Balance Rate Payment /Liquidations
1 8,193,669 8.5900% 8,279 0
2 8,060,386 8.5900% 8,145 0
3 7,294,016 8.7500% 12,209 0
4 6,670,935 8.3500% 8,646 0
5 6,529,355 8.5100% 2,664 0
6 6,437,622 8.0800% 7,166 0
7 6,022,411 9.3900% 5,488 0
8 5,386,978 8.0500% 16,582 0
9 5,303,117 7.8900% 6,035 0
10 4,708,441 7.9000% 5,350 0
11 4,469,174 8.5700% 4,530 0
12 4,431,305 9.3900% 4,038 0
13 4,307,660 8.2000% 10,614 0
14 4,320,303 9.2300% 4,005 0
15 3,947,161 8.4200% 6,815 0
16 3,870,337 8.7700% 3,831 0
17 3,853,009 9.2400% 4,472 0
18 3,690,351 8.6500% 7,700 0
19 3,661,699 8.2000% 4,000 0
20 3,566,458 8.9400% 3,493 0
21 3,393,268 8.3000% 3,649 0
22 3,320,643 7.8900% 3,779 0
23 3,195,067 9.5700% 2,853 0
24 3,165,345 9.5700% 2,827 0
25 3,009,307 9.5700% 2,687 0
26 2,941,083 9.9300% 4,474 0
27 2,914,214 8.6400% 2,994 0
28 2,851,537 9.5500% 4,808 0
29 2,762,238 8.2500% 4,867 0
30 2,774,748 9.1400% 2,632 0
31 2,761,780 9.1000% 3,635 0
32 2,680,186 8.9900% 2,561 0
33 2,675,330 9.0600% 2,571 0
34 2,576,066 9.6200% 2,282 0
35 2,548,392 8.3100% 4,497 0
36 2,480,861 8.7300% 2,471 0
37 2,376,905 9.3500% 2,199 0
38 2,328,404 8.3100% 4,074 0
39 2,233,245 8.9000% 2,165 0
Page - 14
<PAGE>
Offering Beginning Scheduled
Circular Scheduled Note Principal Prepayments
Control # Balance Rate Payment /Liquidations
40 2,198,127 9.7000% 5,999 0
41 2,179,964 9.0800% 2,088 0
42 2,115,840 9.1700% 1,998 0
43 2,113,961 9.0800% 2,059 0
44 2,008,248 9.0000% 1,932 0
45 2,006,236 9.5800% 1,789 0
46 1,885,619 8.8000% 1,857 0
47 1,875,812 8.7200% 3,123 0
48 1,876,664 9.0100% 3,016 0
49 1,740,122 8.8500% 1,715 0
50 1,687,216 8.8400% 1,651 0
51 1,656,304 8.4500% 5,028 0
52 1,653,522 9.6600% 2,525 0
53 0 0.0000% 0 0
54 1,619,372 9.3900% 3,964 0
55 1,487,828 8.3700% 1,570 0
56 1,478,359 8.6900% 2,493 0
57 1,476,225 8.6200% 2,488 0
58 1,436,827 9.7000% 1,256 0
59 1,400,014 9.3200% 1,313 0
60 1,384,974 9.2400% 1,316 0
61 1,350,406 9.1700% 2,430 1,592
62 1,336,578 9.1500% 1,277 0
63 1,294,044 8.1500% 3,989 0
64 1,313,804 8.8700% 1,290 0
65 1,282,596 8.3100% 2,244 0
66 1,289,983 8.6900% 1,293 0
67 1,265,537 8.9200% 1,223 0
68 1,229,602 9.3800% 1,942 0
69 1,189,406 8.6000% 1,220 0
70 1,141,436 8.9000% 1,106 0
71 1,134,730 10.0600% 1,650 0
72 1,063,181 9.8300% 2,997 0
73 1,042,053 8.8000% 1,026 0
74 986,664 8.4100% 1,077 0
75 914,444 8.8600% 922 0
76 892,245 8.7500% 893 0
77 891,655 8.9700% 869 0
78 843,556 8.7900% 832 0
79 818,412 8.4700% 850 0
80 780,229 9.3600% 740 0
81 742,470 9.0900% 716 0
82 728,352 9.6700% 1,111 0
83 717,233 9.2500% 680 0
84 643,796 9.4000% 591 0
85 593,086 8.8000% 604 0
- -- ----------- -------- ------- -----
218,479,738 278,841 1,592
=========== ======= =====
Page - 15
<PAGE>
<TABLE>
<CAPTION>
Offering Paid Prepayment Loan
Circular Prepayment Through Premium Status
Control # Date Date Amount Code (1)
<S> <C> <C> <C> <C>
1 -- 09/01/96 -- --
2 -- 09/01/96 -- --
3 -- 09/01/96 -- --
4 -- 09/01/96 -- --
5 -- 09/01/96 -- --
6 -- 09/01/96 -- --
7 -- 09/01/96 -- --
8 -- 09/01/96 -- --
9 -- 09/01/96 -- --
10 -- 09/01/96 -- --
11 -- 09/01/96 -- --
12 -- 09/01/96 -- --
13 -- 09/01/96 -- --
14 -- 09/01/96 -- --
15 -- 09/01/96 -- --
16 -- 09/01/96 -- --
17 -- 09/01/96 -- --
18 -- 09/01/96 -- --
19 -- 09/01/96 -- --
20 -- 09/01/96 -- --
21 -- 09/01/96 -- --
22 -- 09/01/96 -- --
23 -- 09/01/96 -- --
24 -- 09/01/96 -- --
25 -- 09/01/96 -- --
26 -- 09/01/96 -- --
27 -- 09/01/96 -- --
28 -- 09/01/96 -- --
29 -- 09/01/96 -- --
30 -- 09/01/96 -- --
31 -- 07/01/96 -- 1
32 -- 09/01/96 -- --
33 -- 09/01/96 -- --
34 -- 09/01/96 -- --
35 -- 09/01/96 -- --
36 -- 09/01/96 -- --
37 -- 08/06/96 -- --
38 -- 09/01/96 -- --
39 -- 09/01/96 -- --
40 -- 09/01/96 -- --
41 -- 09/01/96 -- --
42 -- 09/01/96 -- --
43 -- 09/01/96 -- --
44 -- 09/01/96 -- --
45 -- 09/01/96 -- --
46 -- 09/01/96 -- --
47 -- 09/01/96 -- --
48 -- 09/01/96 -- --
49 -- 09/01/96 -- --
50 -- 09/01/96 -- --
51 -- 09/01/96 -- --
52 -- 09/01/96 -- --
53 06/01/96 -- -- 1
54 -- 09/01/96 -- --
<FN>
(1) Legend:
1) Specially Serviced
2) Foreclosure
3) Bankruptcy
4) REO
5) Prepay in Full
6) DPO
7) Foreclosure Sale
8) Bankruptcy Sale
9) REO Disposition
10) Modification/Workout
</FN>
</TABLE>
Page - 16
<PAGE>
<TABLE>
Continued from previous page
<CAPTION>
Offering Paid Prepayment Loan
Circular Prepayment Through Premium Status
Control # Date Date Amount Code (1)
<S> <C> <C> <C> <C>
55 -- 09/01/96 -- --
56 -- 09/01/96 -- --
57 -- 09/01/96 -- --
58 -- 09/01/96 -- --
59 -- 09/01/96 -- --
60 -- 09/01/96 -- --
61 -- 09/01/96 -- --
62 -- 09/01/96 -- --
63 -- 09/01/96 -- --
64 -- 09/01/96 -- --
65 -- 09/01/96 -- --
66 -- 09/01/96 -- --
67 -- 09/01/96 -- --
68 -- 09/01/96 -- --
69 -- 09/01/96 -- --
70 -- 09/01/96 -- --
71 -- 09/01/96 -- --
72 -- 09/01/96 -- --
73 -- 09/01/96 -- --
74 -- 09/01/96 -- --
75 -- 09/01/96 -- --
76 -- 09/01/96 -- --
77 -- 09/01/96 -- --
78 -- 09/01/96 -- --
79 -- 09/01/96 -- --
80 -- 09/01/96 -- --
81 -- 09/01/96 -- --
82 -- 09/01/96 -- --
83 -- 09/01/96 -- --
84 -- 09/01/96 -- --
85 -- 09/01/96 -- --
<FN>
(1) Legend:
1) Specially Serviced
2) Foreclosure
3) Bankruptcy
4) REO
5) Prepay in Full
6) DPO
7) Foreclosure Sale
8) Bankruptcy Sale
9) REO Disposition
10) Modification/Workout
</FN>
</TABLE>
Page - 17
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: SEPTEMBER, 1996
DATE PRINTED: 27-SEP-96
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
01 8,185,390 0 67.1% 1.51 N/A PERFORMING PERFORM TO MATURITY
02 8,052,241 0 51.6% 1.37 N/A PERFORMING PERFORM TO MATURITY
03 7,281,807 0 65.0% 0.94 N/A PERFORMING PERFORM TO MATURITY
04 6,662,290 0 53.5% 2.12 N/A PERFORMING PERFORM TO MATURITY
05 6,526,691 0 68.7% 1.48 N/A PERFORMING PERFORM TO MATURITY
06 6,430,455 0 56.9% 1.59 N/A PERFORMING PERFORM TO MATURITY
07 6,016,923 0 68.1% 1.36 N/A PERFORMING PERFORM TO MATURITY
08 5,370,396 0 58.7% 1.22 N/A PERFORMING PERFORM TO MATURITY
09 5,297,082 0 72.6% 1.50 N/A PERFORMING PERFORM TO MATURITY
10 4,703,091 0 70.2% 1.34 N/A PERFORMING PERFORM TO MATURITY
11 4,464,644 0 72.0% 1.19 N/A PERFORMING PERFORM TO MATURITY
12 4,427,266 0 64.2% 1.40 N/A PERFORMING PERFORM TO MATURITY
13 4,297,047 0 60.1% 1.29 N/A PERFORMING PERFORM TO MATURITY
14 4,316,298 0 64.4% 1.43 N/A PERFORMING PERFORM TO MATURITY
15 3,940,346 0 71.6% 1.38 N/A PERFORMING PERFORM TO MATURITY
16 3,866,506 0 72.3% 1.40 N/A PERFORMING PERFORM TO MATURITY
17 3,848,537 0 55.0% 1.67 N/A PERFORMING PERFORM TO MATURITY
18 3,682,651 0 73.7% 1.56 N/A PERFORMING PERFORM TO MATURITY
19 3,657,699 0 71.7% 1.53 N/A PERFORMING PERFORM TO MATURITY
20 3,562,965 0 66.0% 1.55 N/A PERFORMING PERFORM TO MATURITY
21 3,389,619 0 69.5% 1.53 N/A PERFORMING PERFORM TO MATURITY
22 3,316,865 0 68.6% 1.53 N/A PERFORMING PERFORM TO MATURITY
23 3,192,214 0 74.2% 3.59 N/A PERFORMING PERFORM TO MATURITY
24 3,162,519 0 74.2% -0.21 N/A PERFORMING PERFORM TO MATURITY
25 3,006,620 0 74.2% 2.23 N/A PERFORMING PERFORM TO MATURITY
26 2,936,609 0 66.7% 1.55 N/A PERFORMING PERFORM TO MATURITY
27 2,911,221 0 69.2% 1.53 N/A PERFORMING PERFORM TO MATURITY
28 2,846,728 0 50.7% 1.28 N/A PERFORMING PERFORM TO MATURITY
29 2,757,371 0 73.8% 1.26 N/A PERFORMING PERFORM TO MATURITY
30 2,772,116 0 71.1% 1.56 N/A PERFORMING PERFORM TO MATURITY
31 2,765,387 47 73.9% 1.87 N/A NEGOTIATING MODIFICATIONS RESTRUCTURE/PERFORM TO MATURIT
32 2,677,625 0 74.4% -0.25 N/A PERFORMING PERFORM TO MATURITY
33 2,672,759 0 70.3% 1.32 N/A PERFORMING PERFORM TO MATURITY
34 2,573,784 0 73.5% 1.78 N/A PERFORMING PERFORM TO MATURITY
35 2,543,895 0 73.7% 1.33 N/A PERFORMING PERFORM TO MATURITY
36 2,478,390 0 64.5% 1.42 N/A PERFORMING PERFORM TO MATURITY
37 2,376,905 0 66.0% 1.41 N/A PERFORMING PERFORM TO MATURITY
38 2,324,331 0 50.5% 1.43 N/A PERFORMING PERFORM TO MATURITY
39 2,231,080 0 79.7% 1.34 N/A PERFORMING PERFORM TO MATURITY
40 2,192,127 0 60.9% 1.65 N/A PERFORMING PERFORM TO MATURITY
41 2,177,876 0 71.4% 1.53 N/A PERFORMING PERFORM TO MATURITY
42 2,113,842 0 64.1% 1.53 N/A PERFORMING PERFORM TO MATURITY
43 2,111,901 0 74.1% 1.04 N/A PERFORMING PERFORM TO MATURITY
44 2,006,316 0 71.7% 1.50 N/A PERFORMING PERFORM TO MATURITY
45 2,004,447 0 61.7% 1.56 N/A PERFORMING PERFORM TO MATURITY
46 1,883,762 0 63.9% 1.35 N/A PERFORMING PERFORM TO MATURITY
47 1,872,688 0 62.6% 1.76 N/A PERFORMING PERFORM TO MATURITY
48 1,873,648 0 61.4% 1.56 N/A PERFORMING PERFORM TO MATURITY
49 1,738,407 0 67.5% 1.65 N/A PERFORMING PERFORM TO MATURITY
50 1,685,565 0 67.4% 1.67 N/A PERFORMING PERFORM TO MATURITY
51 1,651,276 0 56.0% 1.23 N/A PERFORMING PERFORM TO MATURITY
52 1,650,997 0 73.7% 1.65 N/A PERFORMING PERFORM TO MATURITY
53 0 0 0.0% N/A INACTIVE PRE-PAID IN FULL
54 1,615,408 0 62.9% 1.45 N/A PERFORMING PERFORM TO MATURITY
55 1,486,258 0 67.7% 1.12 N/A PERFORMING PERFORM TO MATURITY
56 1,475,866 0 59.0% 1.50 N/A PERFORMING PERFORM TO MATURITY
57 1,473,737 0 73.9% 1.21 N/A PERFORMING PERFORM TO MATURITY
58 1,435,570 0 65.6% 1.68 N/A PERFORMING PERFORM TO MATURITY
59 1,398,701 0 58.3% 1.60 N/A PERFORMING PERFORM TO MATURITY
60 1,383,659 0 65.9% 1.16 N/A PERFORMING PERFORM TO MATURITY
61 1,346,383 0 69.0% 1.49 N/A PERFORMING PERFORM TO MATURITY
62 1,335,301 0 58.1% 2.08 N/A PERFORMING PERFORM TO MATURITY
63 1,290,056 0 43.5% 1.92 N/A PERFORMING PERFORM TO MATURITY
64 1,312,513 0 65.6% 1.88 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 17
<PAGE>
<TABLE>
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
65 1,280,352 0 61.7% 1.18 N/A PERFORMING PERFORM TO MATURITY
66 1,288,690 0 62.9% 1.67 N/A PERFORMING PERFORM TO MATURITY
67 1,264,314 0 57.5% 1.46 N/A PERFORMING PERFORM TO MATURITY
68 1,227,659 0 49.6% 1.47 N/A PERFORMING PERFORM TO MATURITY
69 1,188,187 0 62.5% 1.30 N/A PERFORMING PERFORM TO MATURITY
70 1,140,330 0 60.0% 1.77 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
71 1,133,080 0 63.8% 1.25 N/A PERFORMING PERFORM TO MATURITY
72 1,060,184 0 36.6% 1.50 N/A PERFORMING PERFORM TO MATURITY
73 1,041,026 0 70.1% 1.57 N/A PERFORMING PERFORM TO MATURITY
74 985,588 0 64.0% 1.53 N/A PERFORMING PERFORM TO MATURITY
75 913,522 0 72.5% 1.43 N/A PERFORMING PERFORM TO MATURITY
76 891,352 0 74.3% 1.49 N/A PERFORMING PERFORM TO MATURITY
77 890,786 0 59.4% 1.53 N/A PERFORMING PERFORM TO MATURITY
78 842,724 0 66.1% 1.60 N/A PERFORMING PERFORM TO MATURITY
79 817,563 0 74.3% 2.27 N/A PERFORMING PERFORM TO MATURITY
80 779,489 0 72.8% 1.29 N/A PERFORMING PERFORM TO MATURITY
81 741,754 0 57.1% 1.30 N/A PERFORMING PERFORM TO MATURITY
82 727,241 0 60.6% 1.39 N/A PERFORMING PERFORM TO MATURITY
83 716,553 0 55.1% 1.83 N/A PERFORMING PERFORM TO MATURITY
84 643,205 0 68.1% 1.30 N/A PERFORMING PERFORM TO MATURITY
85 592,483 0 50.2% 1.17 N/A PERFORMING PERFORM TO MATURITY
- -- ----------- -- ------ ---- --- ------------------------- ------------------------------
TOTAL 218,208,746
===========
</TABLE>
Page - 18
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: SEPTEMBER, 1996
DATE PRINTED: 27-SEP-96
<CAPTION>
REMAIN
CURRENT ORIG LOAN INT
ASSET PRINCIPAL NOTE LOAN AMORT TERM IN INT RATE
NO BALANCE DATE DATE MONTHS RATE TYPE PAYMENT
<S> <C> <C> <C> <C> <C> <C> <C>
01 8,185,390 12/1/95 1/1/2021 172 8.590% F 66,932
02 8,052,241 12/1/95 1/1/2021 172 8.590% F 65,844
03 7,281,807 10/27/95 11/1/2015 230 8.750% F 65,395
04 6,662,290 10/14/93 11/1/2018 50 8.350% F 55,064
05 6,526,691 11/10/95 12/1/2019 111 8.510% F 48,968
06 6,430,455 10/31/95 11/1/2020 74 8.080% F 50,513
07 6,016,923 9/29/95 10/1/2020 169 9.390% F 52,613
08 5,370,396 12/6/95 1/1/2011 76 8.050% F 52,720
09 5,297,082 11/20/95 12/1/2020 75 7.890% F 40,903
10 4,703,091 11/2/95 12/1/2020 51 7.900% F 36,347
11 4,464,644 12/5/95 1/1/2021 136 8.570% F 36,448
12 4,427,266 9/29/95 10/1/2020 169 9.390% F 38,713
13 4,297,047 10/31/95 11/1/2012 194 8.200% F 40,049
14 4,316,298 10/5/95 11/1/2020 170 9.230% F 37,235
15 3,940,346 11/7/95 12/1/2011 182 8.420% F 34,511
16 3,866,506 11/30/95 12/1/2020 135 8.770% F 32,117
17 3,848,537 8/3/95 9/1/2018 168 9.240% F 34,140
18 3,682,651 11/30/95 12/1/2014 111 8.650% F 34,301
19 3,657,699 10/6/95 11/1/2020 74 8.200% F 29,022
20 3,562,965 9/15/95 10/1/2020 109 8.940% F 30,063
21 3,389,619 10/19/95 11/1/2020 170 8.300% F 27,119
22 3,316,865 11/20/95 12/1/2020 75 7.890% F 25,612
23 3,192,214 8/11/95 9/1/2020 168 9.570% F 28,334
24 3,162,519 8/11/95 9/1/2020 168 9.570% F 28,070
25 3,006,620 8/11/95 9/1/2020 168 9.570% F 26,686
26 2,936,609 5/15/95 6/1/2015 165 9.930% F 28,812
27 2,911,221 9/28/95 10/1/2020 169 8.640% F 23,976
28 2,846,728 5/24/95 12/1/2014 219 9.550% F 27,502
29 2,757,371 11/30/95 12/1/2015 111 8.250% F 23,858
30 2,772,116 9/29/95 10/1/2020 109 9.140% F 23,767
31 2,765,387 8/9/95 9/1/2017 168 9.100% F 24,578
32 2,677,625 11/13/95 12/1/2020 111 8.990% F 22,640
33 2,672,759 9/11/95 10/1/2020 133 9.060% F 22,769
34 2,573,784 8/10/95 9/1/2020 168 9.620% F 22,933
35 2,543,895 12/1/95 11/1/2015 110 8.310% F 22,145
36 2,478,390 11/17/95 12/1/2020 135 8.730% F 20,520
37 2,376,905 8/15/95 9/6/2020 132 9.350% F 20,719
38 2,324,331 11/10/95 12/1/2015 75 8.310% F 20,198
39 2,231,080 11/14/95 12/1/2020 75 8.900% F 18,728
40 2,192,127 10/19/95 11/1/2010 170 9.700% F 23,767
41 2,177,876 9/14/95 10/1/2020 133 9.080% F 18,583
42 2,113,842 9/29/95 10/1/2020 109 9.170% F 18,166
43 2,111,901 7/21/95 8/1/2020 107 9.080% F 18,055
44 2,006,316 10/10/95 11/1/2020 134 9.000% F 16,994
45 2,004,447 8/25/95 9/1/2020 168 9.580% F 17,805
46 1,883,762 11/17/95 12/1/2020 135 8.800% F 15,685
47 1,872,688 12/1/95 12/1/2015 135 8.720% F 16,754
48 1,873,648 11/16/95 12/1/2015 171 9.010% F 17,107
49 1,738,407 10/27/95 11/1/2020 134 8.850% F 14,548
50 1,685,565 11/14/95 12/1/2020 135 8.840% F 14,081
51 1,651,276 10/31/95 11/1/2010 170 8.450% F 16,691
52 1,650,997 9/1/95 9/1/2015 168 9.660% F 15,836
53 0 8/11/95 9/1/2017 168 9.180% F 14,792
54 1,615,408 12/1/95 12/1/2011 183 9.390% F 16,636
55 1,486,258 12/1/95 12/1/2020 171 8.370% F 11,947
56 1,475,866 10/11/95 11/1/2015 170 8.690% F 13,198
57 1,473,737 11/30/95 12/1/2015 135 8.620% F 13,092
58 1,435,570 8/15/95 9/1/2020 168 9.700% F 12,871
59 1,398,701 7/21/95 8/1/2020 107 9.320% F 12,186
60 1,383,659 7/6/95 8/1/2020 108 9.240% F 11,980
61 1,346,383 6/23/95 7/1/2015 166 9.170% F 12,750
62 1,335,301 8/30/95 9/1/2020 132 9.150% F 11,468
63 1,290,056 11/20/95 12/1/2010 171 8.150% F 12,777
64 1,312,513 10/20/95 11/1/2020 170 8.870% F 11,002
</TABLE>
Page - 19
<PAGE>
<TABLE>
<CAPTION>
REMAIN
CURRENT ORIG LOAN INT
ASSET PRINCIPAL NOTE LOAN AMORT TERM IN INT RATE
NO BALANCE DATE DATE MONTHS RATE TYPE PAYMENT
<S> <C> <C> <C> <C> <C> <C> <C>
65 1,280,352 11/10/95 12/1/2015 75 8.310% F 11,126
66 1,288,690 11/15/95 12/1/2020 135 8.690% F 10,635
67 1,264,314 11/2/95 12/1/2020 135 8.920% F 10,630
68 1,227,659 8/10/95 9/1/2015 132 9.380% F 11,554
69 1,188,187 10/24/95 11/1/2020 170 8.600% F 9,744
70 1,140,330 11/30/95 12/1/2020 111 8.900% F 9,572
71 1,133,080 8/9/95 9/1/2015 168 10.060% F 11,163
72 1,060,184 6/30/95 7/1/2010 166 9.830% F 11,707
73 1,041,026 11/20/95 12/1/2020 135 8.800% F 8,668
74 985,588 6/30/95 7/1/2020 106 8.410% F 7,992
75 913,522 7/12/95 8/1/2020 131 8.860% F 7,674
76 891,352 10/20/95 11/1/2020 134 8.750% F 7,399
77 890,786 9/29/95 10/1/2020 133 8.970% F 7,534
78 842,724 11/30/95 12/1/2020 171 8.790% F 7,011
79 817,563 11/21/95 12/1/2020 171 8.470% F 6,626
80 779,489 7/20/95 8/1/2020 167 9.360% F 6,825
81 741,754 8/30/95 9/1/2020 132 9.090% F 6,340
82 727,241 8/28/95 9/1/2015 132 9.670% F 6,980
83 716,553 7/20/95 8/1/2020 83 9.250% F 6,209
84 643,205 8/1/95 9/1/2020 108 9.400% F 5,634
85 592,483 7/19/95 8/1/2020 131 8.800% F 4,953
- -- ----------- -------- --------- ---- ----- -- ------
TOTAL 218,208,746
===========
</TABLE>
Page - 20
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: SEPTEMBER, 1996
DATE PRINTED: 27-SEP-96
<CAPTION>
ASSET PROP YEAR PROPERTY VALUATION VALUATION
NO NO PROPERTY TYPE CITY STATE ZIP BUILT UNITS NET SF VALUE DATE SOURCE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 RETAIL CAMBRIDGE MA 02138 1953 N/A 84,323 12,200,000 11/15/95 MAI APPRAISAL
02 1 RETAIL QUINCY MA 02169 1964 N/A 102,764 15,600,000 11/15/95 MAI APPRAISAL
03 1 MIXED USE WASHINGTON DC 20007 1991 N/A 60,010 11,200,000 09/29/95 MAI APPRAISAL
04 1 MULTI-FAMILY PATCHOGUE NY 11772 1965 160 128,790 7,700,000 07/23/93 APPRAISAL (NON-
04 3 MULTI-FAMILY EAST PATCHOGUE NY 11772 1965 96 81,600 4,750,000 07/23/93 APPRAISAL (NON-
05 1 MIXED USE COCONUT GROVE FL 33133 1995 N/A 36,493 9,500,000 09/05/95 MAI APPRAISAL
06 1 HEALTH CARE CHATTANOOGA TN 37405 1986 143 109,463 11,300,000 10/01/95 MAI APPRAISAL
07 1 RETAIL PALMDALE CA 93551 1990 N/A 117,952 8,840,000 09/14/95 MAI APPRAISAL
08 1 RETAIL MESQUITE TX 75150 1995 N/A 141,284 9,150,000 10/05/95 MAI APPRAISAL
09 1 MULTI-FAMILY DENTON TX 76201 1986 226 198,456 7,300,000 10/19/95 MAI APPRAISAL
10 1 MULTI-FAMILY TULSA OK 74145 1969 259 228,450 6,700,000 06/05/95 MAI APPRAISAL
11 1 OFFICE RIVERSIDE CA 92507 1989 N/A 58,408 6,200,000 10/13/95 MAI APPRAISAL
12 1 RETAIL YUBA CITY CA 95991 1989 N/A 86,582 6,900,000 09/12/95 MAI APPRAISAL
13 1 INDUSTRIAL OCEANSIDE CA 92054 1979 N/A 155,200 7,150,000 09/28/95 MAI APPRAISAL
14 1 RETAIL EUREKA CA 95503 1989 N/A 89,171 6,700,000 05/08/95 MAI APPRAISAL
15 1 RETAIL JOHNSTON RI 02919 1984 N/A 105,180 5,500,000 10/01/95 MAI APPRAISAL
16 1 RETAIL HOUSTON TX 77031 1974 N/A 96,109 5,350,000 10/05/95 MAI APPRAISAL
17 1 RETAIL LITTLE ROCK AR 72202 1984 N/A 148,664 7,000,000 03/25/95 MAI APPRAISAL
18 1 RETAIL THIBODAUX LA 70301 1980 N/A 142,061 5,000,000 11/01/95 MAI APPRAISAL
19 1 HEALTH CARE BRISTOL VA 24201 1985 97 55,560 5,100,000 09/01/95 APPRAISAL (NON-
20 1 MIXED USE BETHESDA MD 20816 1983 N/A 54,700 5,400,000 07/10/95 MAI APPRAISAL
21 1 RETAIL CORONA CA 91720 1989 N/A 52,924 4,880,000 07/25/95 MAI APPRAISAL
22 1 MULTI-FAMILY DENTON TX 76207 1983 200 142,200 4,835,000 10/19/95 MAI APPRAISAL
23 1 RETAIL OCALA FL 33680 1993 1 49,069 4,300,000 07/31/95 MAI APPRAISAL
24 1 RETAIL AUBURNDALE FL 33823 1994 1 48,683 4,260,000 07/31/95 MAI APPRAISAL
25 1 RETAIL GAINESVILLE FL 32605 1991 1 46,259 4,050,000 07/31/95 MAI APPRAISAL
26 1 LODGING KINGSPORT TN 37660 1986 122 43,100 4,400,000 04/27/95 MAI APPRAISAL
27 1 RETAIL RIALTO CA 91720 1989 N/A 52,748 4,210,000 07/25/95 MAI APPRAISAL
28 1 HEALTH CARE BROOKLYN NY 11236 1975 346 62,236 5,617,920 04/01/95 MAI APPRAISAL
29 1 RETAIL LINCOLN NE 68516 1992 N/A 50,115 3,735,000 10/27/95 APPRAISAL (NON-
30 1 MULTI-FAMILY HAZELWOOD MO 63042 1963 64 40,640 1,310,000 07/11/95 MAI APPRAISAL
30 2 MULTI-FAMILY ST ANN MO 63074 1968 78 47,794 1,300,000 07/12/95 MAI APPRAISAL
30 3 MULTI-FAMILY NORMANDY MO 63121 1965 78 44,230 1,290,000 07/11/95 MAI APPRAISAL
31 1 MULTI-FAMILY BOWLING GREEN KY 42104 1971 128 110,480 3,740,000 02/28/95 MAI APPRAISAL
32 1 MULTI-FAMILY STATEN ISLAND NY 10304 1972 98 51,362 3,600,000 06/20/95 MAI APPRAISAL
33 1 INDUSTRIAL CASSELBERRY FL 32707 1975 N/A 100,576 3,800,000 07/28/95 MAI APPRAISAL
34 1 OFFICE MINNEAPOLIS MN 55401 1896 N/A 60,550 3,500,000 07/12/95 MAI APPRAISAL
35 1 RETAIL OKEMOS MI 48864 1971 N/A 18,436 1,750,000 08/22/95 MAI APPRAISAL
35 2 RETAIL JOLIET IL 60431 1984 N/A 18,830 1,700,000 08/21/95 MAI APPRAISAL
36 1 RETAIL LOS ANGELES CA 90025 1984 N/A 18,792 3,840,000 09/14/95 MAI APPRAISAL
37 1 RETAIL MINNETONKA MN 55345 1987 N/A 43,120 3,600,000 06/19/95 MAI APPRAISAL
38 1 MANUFACTURED HOU PUEBLO CO 81001 1974 388 N/A 4,600,000 08/29/95 MAI APPRAISAL
39 1 MULTI-FAMILY KANSAS CITY KS 66103 1988 108 90,914 2,800,000 10/10/95 MAI APPRAISAL
40 1 INDUSTRIAL ROCKVILLE MD 20852 1977 N/A 46,831 3,600,000 05/03/95 MAI APPRAISAL
41 1 INDUSTRIAL VADNAIS HEIGHTS MN 55110 1990 N/A 60,719 3,050,000 07/21/95 MAI APPRAISAL
42 1 RETAIL HARRISONBURG VA 22801 1992 N/A 44,920 3,300,000 08/25/95 MAI APPRAISAL
43 1 RETAIL GEDDES NY 13219 1973 N/A 60,500 2,850,000 05/15/95 MAI APPRAISAL
44 1 RETAIL KATY TX 77450 1984 N/A 50,050 2,800,000 08/18/95 MAI APPRAISAL
45 1 RETAIL DANVERS MA 01923 1960 N/A 39,850 3,250,000 05/16/95 MAI APPRAISAL
46 1 OFFICE AVON IN 46122 1988 N/A 38,519 2,950,000 10/03/95 MAI APPRAISAL
47 1 OFFICE ALBUQUERQUE NM 87107 1973 N/A 67,174 2,990,000 10/17/95 MAI APPRAISAL
48 1 WAREHOUSE WASHINGTON DC 20002 1985 764 52,872 3,050,000 10/10/95 MAI APPRAISAL
49 1 RETAIL WEST DEPTFORD NJ 08096 1990 N/A 28,000 2,575,000 08/17/95 MAI APPRAISAL
50 1 OFFICE RIVERSIDE CA 92507 1990 N/A 25,865 2,500,000 09/30/95 MAI APPRAISAL
51 1 WAREHOUSE PHOENIX AZ 85017 1959 N/A 143,536 2,950,000 09/19/95 MAI APPRAISAL
52 1 RETAIL ANCHORAGE AK 99577 1982 13 35,429 2,240,000 08/21/95 MAI APPRAISAL
53 1 MULTI-FAMILY LAFAYETTE IN 47904 1971 120 49,456 2,240,000 03/02/95 MAI APPRAISAL
54 1 RETAIL ROWLAND HEIGHTS CA 91745 1988 N/A 27,309 2,570,000 10/10/95 MAI APPRAISAL
55 1 MULTI-FAMILY NORMAN OK 73072 1973 140 129,952 2,195,000 10/13/95 MAI APPRAISAL
56 1 HEALTH CARE SAN ANTONIO TX 78229 1985 60 21,110 2,500,000 09/01/95 MAI APPRAISAL
57 1 MULTI-FAMILY METARIE LA 70002 1975 30 21,097 450,027 10/19/95 MAI APPRAISAL
57 2 MULTI-FAMILY METARIE LA 70002 1985 32 17,664 479,973 10/19/95 MAI APPRAISAL
</TABLE>
Page - 21
<PAGE>
<TABLE>
<CAPTION>
ASSET PROP YEAR PROPERTY VALUATION VALUATION
NO NO PROPERTY TYPE CITY STATE ZIP BUILT UNITS NET SF VALUE DATE SOURCE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
57 3 MULTI-FAMILY NEW ORLEANS LA 70131 1974 32 33,800 540,000 10/19/95 MAI APPRAISAL
57 4 MULTI-FAMILY MARRERO LA 70072 1983 30 27,840 524,000 10/19/95 MAI APPRAISAL
58 1 MIXED USE OKLAHOMA CITY OK 73139 1984 84 82,419 2,190,000 06/29/95 MAI APPRAISAL
59 1 OFFICE CARROLLTON TX 75007 1985 N/A 53,475 2,400,000 07/06/95 MAI APPRAISAL
60 1 MULTI-FAMILY PLEASANTVILLE NJ 11272 1988 46 44,684 2,100,000 04/03/95 MAI APPRAISAL
61 1 RETAIL AURORA IL 60504 1977 N/A 48,790 1,950,000 05/01/95 MAI APPRAISAL
62 1 OFFICE GRAPEVINE TX 76051 1978 N/A 67,678 2,300,000 07/15/95 MAI APPRAISAL
63 1 MULTI-FAMILY DENTON TX 76205 1975 100 98,092 2,965,000 10/19/95 MAI APPRAISAL
64 1 MULTI-FAMILY AUSTIN TX 78731 1972 91 66,295 2,000,000 09/19/95 MAI APPRAISAL
65 1 MANUFACTURED HOU LOVELAND CO 80537 1966 113 N/A 2,075,000 08/30/95 MAI APPRAISAL
66 1 MIXED USE LYNNWOOD WA 98036 1980 N/A 34,948 2,050,000 09/27/95 MAI APPRAISAL
67 1 MULTI-FAMILY HOUSTON TX 77081 1970 144 127,908 2,200,000 08/17/95 MAI APPRAISAL
68 1 INDUSTRIAL CANOGA PARK CA 91304 1978 3 64,518 2,475,000 07/19/95 MAI APPRAISAL
69 1 MULTI-FAMILY FORT WORTH TX 76116 1969 120 111,760 1,900,000 09/19/95 MAI APPRAISAL
70 1 MULTI-FAMILY LEOMINSTER MA 01453 1895 58 59,480 1,900,000 07/26/95 MAI APPRAISAL
71 1 WAREHOUSE ALBUQUERQUE NM 87109 1980 505 40,622 1,775,000 06/28/95 MAI APPRAISAL
72 1 WAREHOUSE FLORISSANT MO 63031 1974 1,079 106,635 2,900,000 03/08/95 MAI APPRAISAL
73 1 RETAIL ABILENE TX 79608 1983 N/A 29,223 1,485,000 10/04/95 MAI APPRAISAL
74 1 MULTI-FAMILY JACKSON MS 39206 1973 96 79,752 1,540,000 04/03/95 MAI APPRAISAL
75 1 OFFICE PHOENIX AZ 85016 1985 N/A 10,200 1,260,000 05/19/95 MAI APPRAISAL
76 1 INDUSTRIAL NIAGARA NY 14305 1988 N/A 36,461 1,200,000 09/13/95 MAI APPRAISAL
77 1 OFFICE COLUMBUS OH 43227 1985 48 58,000 1,500,000 09/12/95 MAI APPRAISAL
78 1 INDUSTRIAL HOUSTON TX 77063 1986 N/A 60,000 1,275,000 05/23/95 MAI APPRAISAL
79 1 OFFICE ROSEVILLE MN 55113 1973 N/A 24,139 1,100,000 10/06/95 MAI APPRAISAL
80 1 RETAIL MIDDLETOWN CT 06457 1955 N/A 16,986 1,070,000 03/29/95 MAI APPRAISAL
81 1 MULTI-FAMILY GRAND JUNCTION CO 81501 1977 37 36,432 1,300,000 06/20/95 MAI APPRAISAL
82 1 RETAIL MAPLEWOOD MN 55109 1988 N/A 23,708 1,200,000 05/05/95 MAI APPRAISAL
83 1 MULTI-FAMILY GOFFSTOWN NH 03045 1972 48 30,675 800,000 03/14/95 MAI APPRAISAL
83 2 MULTI-FAMILY FRANKLIN NH 03235 1974 36 25,200 500,000 03/13/95 MAI APPRAISAL
84 1 MULTI-FAMILY MIDWEST CITY OK 73110 1972 104 91,200 945,000 04/25/95 MAI APPRAISAL
85 1 MULTI-FAMILY REYNOLDSBURG OH 43068 1967 58 38,084 1,180,000 05/17/95 MAI APPRAISAL
</TABLE>
Page - 22
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: SEPTEMBER, 1996
DATE PRINTED: 27-SEP-96
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 1,217,474 12/1/95 PROSPECTUS 669,250 1/1/96 6/30/96 BORROWER 100.0% 10/1/95
02 1 1,089,693 12/1/95 PROSPECTUS 645,575 1/1/96 6/30/96 BORROWER 100.0% 11/15/95
03 1 738,967 12/31/95 PROPERTY MANAGER 334,786 1/1/96 4/30/96 PROPERTY MANAGEMENT 100.0% 4/30/96
04 1 860,906 12/31/95 BORROWER 294,458 1/1/96 6/30/96 BORROWER 98.0% 6/30/96
04 3 542,913 12/31/95 BORROWER 211,648 1/1/96 6/30/96 BORROWER 100.0% 6/30/96
05 1 873,821 12/1/95 PROSPECTUS 261,578 9/1/95 12/31/95 BORROWER 96.1% 11/7/95
06 1 965,796 12/1/95 PROSPECTUS 202,345 1/1/96 6/30/96 BORROWER 98.0% 7/1/96
07 1 862,693 12/1/95 PROSPECTUS 175,243 2/4/96 3/31/96 BORROWER 100.0% 9/30/95
08 1 773,983 12/1/95 PROSPECTUS 202,106 1/1/96 3/31/96 BORROWER 100.0% 3/19/96
09 1 737,155 12/31/95 MANAGEMENT COMPANY 196,242 1/1/96 3/31/96 MANAGEMENT COMPANY 93.4% 4/25/96
10 1 585,282 12/31/95 BORROWER 272,058 1/1/96 6/30/96 BORROWER 97.0% 6/30/96
11 1 521,168 12/31/95 BORROWER 521,168 1/1/95 12/31/95 BORROWER 88.2% 4/1/96
12 1 653,903 12/1/95 PROSPECTUS 703,415 2/4/96 6/30/96 BORROWER 100.0% 7/15/95
13 1 624,354 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 7/15/95
14 1 640,741 12/1/95 PROSPECTUS 368,285 2/4/96 6/30/96 BORROWER 100.0% 7/15/95
15 1 574,131 12/31/95 BORROWER 298,871 1/1/96 6/30/96 BORROWER 100.0% 6/30/96
16 1 542,445 12/1/95 PROSPECTUS 341,477 1/1/96 6/30/96 BORROWER 100.0% 6/30/96
17 1 688,100 12/31/95 BORROWER 167,461 1/1/96 3/31/96 BORROWER 100.0% 4/1/96
18 1 645,624 12/31/95 BORROWER 645,624 1/1/95 12/31/95 BORROWER 99.6% 4/1/96
19 1 535,379 12/1/95 PROSPECTUS 328,892 1/1/96 6/30/96 BORROWER 96.0% 7/1/96
20 1 561,341 12/31/95 BORROWER 390,076 1/1/96 6/30/96 BORROWER 100.0% 6/30/96
21 1 499,230 12/31/95 BORROWER 125,401 1/1/96 3/31/96 BORROWER 100.0% 5/1/96
22 1 470,733 12/31/95 MANAGEMENT COMPANY 132,122 1/1/96 3/31/96 MANAGEMENT COMPANY 93.0% 4/25/96
23 1 1,223,603 12/31/95 BORROWER 1,223,603 1/1/95 12/31/95 BORROWER 100.0% 7/31/95
24 1 72,984 12/31/95 BORROWER 72,984 1/1/95 12/31/95 BORROWER 100.0% 7/31/95
25 1 717,105 12/31/95 BORROWER 717,105 1/1/95 12/31/95 BORROWER 100.0% 7/31/95
26 1 539,140 12/1/95 PROSPECTUS 235,979 1/1/96 5/31/96 BORROWER 59.4% 5/31/96
27 1 442,621 12/31/95 BORROWER 106,959 1/1/96 3/31/96 BORROWER 100.0% 5/1/96
28 1 424,376 12/31/95 AUDIT 565,145 1/1/95 12/31/95 AUDIT 97.0% 6/28/96
29 1 361,854 12/31/95 BORROWER 122,131 1/1/96 4/30/96 BORROWER 99.2% 10/1/95
30 1 149,478 11/30/95 BORROWER 35,522 12/1/95 2/29/96 BORROWER 95.0% 5/7/96
30 2 152,377 11/30/95 BORROWER 35,759 12/1/95 2/29/96 BORROWER 91.0% 5/7/96
30 3 143,720 11/30/95 BORROWER 31,940 12/1/95 2/29/96 BORROWER 88.0% 5/7/96
31 1 551,628 12/31/94 BORROWER 405,972 1/1/95 9/30/95 BORROWER 99.2% 7/14/95
32 1 69,411 12/31/94 BORROWER 69,411 1/1/94 12/31/94 BORROWER 98.0% 8/1/95
33 1 362,287 12/31/95 BORROWER 176,927 1/1/96 6/30/96 BORROWER 98.0% 6/30/96
34 1 490,324 12/31/95 BORROWER 236,005 1/1/96 6/30/96 BORROWER 97.0% 6/30/96
35 1 186,486 12/1/95 PROSPECTUS 678,802 1/30/96 5/19/96 BORROWER 100.0% 1/3/96
35 2 168,301 12/1/95 PROSPECTUS 192,900 1/30/96 5/19/96 BORROWER 100.0% 1/3/96
36 1 350,493 12/31/95 BORROWER 190,593 1/1/96 6/30/96 BORROWER 97.0% 6/30/96
37 1 352,288 12/31/95 BORROWER TAX RETUR 352,288 1/1/95 12/31/95 BORROWER TAX RETURN 100.0% 6/1/96
38 1 347,126 12/1/95 PROSPECTUS 198,140 1/1/96 6/30/96 BORROWER 72.9% 6/30/96
39 1 301,186 12/31/95 MANAGEMENT COMPANY 146,701 1/1/96 6/30/96 BORROWER 91.0% 7/1/96
40 1 473,271 12/31/95 BORROWER 473,271 1/1/95 12/31/95 BORROWER 100.0% 11/21/95
41 1 341,897 12/1/95 PROSPECTUS 159,850 1/1/96 6/30/96 BORROWER 86.1% 7/1/96
42 1 334,194 9/30/95 BORROWER 334,194 10/1/94 9/30/95 BORROWER 100.0% 9/15/95
43 1 227,216 12/31/95 BORROWER 41,361 1/1/96 3/31/96 BORROWER 75.9% 2/28/96
44 1 307,847 12/1/95 PROSPECTUS 212,404 1/1/96 6/30/96 BORROWER 96.0% 6/30/96
45 1 333,605 12/31/95 BORROWER 333,605 1/1/95 12/31/95 BORROWER 100.0% 11/28/95
46 1 254,730 12/31/95 BORROWER TAX RETUR 86,296 1/1/96 3/31/96 BORROWER 81.8% 3/31/96
47 1 354,103 12/31/95 BORROWER 109,455 1/1/96 3/31/96 BORROWER 100.0% 3/29/96
48 1 321,015 12/31/95 BORROWER 122,225 1/1/96 6/30/96 BORROWER 81.5% 6/30/96
49 1 289,348 12/31/95 BORROWER TAX RETUR 289,348 1/1/95 12/31/95 BORROWER TAX RETURN 100.0% 10/3/95
50 1 282,317 12/31/95 BORROWER 292,876 1/1/95 12/31/95 BORROWER 100.0% 4/1/96
51 1 247,579 12/1/95 PROSPECTUS N/A N/A N/A N/A 100.0% 11/1/95
52 1 313,583 12/31/95 MANAGEMENT COMPANY 166,040 1/1/96 6/30/96 MANAGEMENT COMPANY 100.0% 6/30/96
53 1 369,919 12/31/94 BORROWER 300,136 1/1/95 9/30/95 BORROWER 100.0% 7/14/95
54 1 291,285 12/31/94 BORROWER 220,388 1/1/95 9/30/95 BORROWER 100.0% 11/21/95
55 1 161,640 12/31/95 BORROWER 161,640 1/1/95 12/31/95 BORROWER 81.4% 12/31/95
56 1 238,610 12/1/95 PROSPECTUS 78,207 1/1/96 6/30/96 BORROWER 67.0% 7/31/96
57 1 14,895 12/31/94 BORROWER 1,202 1/1/96 3/31/96 BORROWER 66.6% 3/22/96
57 2 45,560 12/31/94 BORROWER 15,249 1/1/96 3/31/96 BORROWER 93.7% 3/22/96
57 3 65,484 12/31/94 BORROWER 18,286 1/1/96 3/31/96 BORROWER 94.0% 3/31/96
57 4 65,105 12/31/94 BORROWER 21,884 1/1/96 3/31/96 BORROWER 97.0% 5/31/96
58 1 260,012 12/31/95 BORROWER 171,853 1/1/96 6/30/96 BORROWER 98.0% 6/30/96
59 1 235,279 12/1/95 PROSPECTUS 128,248 1/1/96 6/20/96 BORROWER 93.0% 6/20/96
60 1 167,513 12/31/95 BORROWER 167,513 1/1/95 12/31/95 BORROWER 100.0% 7/31/95
61 1 228,087 12/1/95 PROSPECTUS 60,722 1/1/96 3/31/96 BORROWER 100.0% 3/6/96
</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
62 1 286,978 12/31/95 MANAGEMENT COMPANY 286,978 1/1/95 12/31/95 MANAGEMENT COMPANY 100.0% 6/30/95
63 1 294,408 12/31/95 MANAGEMENT COMPANY 162,697 1/1/96 6/30/96 BORROWER 99.0% 6/30/96
64 1 249,468 12/31/95 BORROWER 145,058 1/1/96 6/30/96 BORROWER 95.0% 6/30/96
65 1 157,898 12/1/95 PROSPECTUS 110,015 1/1/96 6/30/96 BORROWER 99.1% 6/30/96
66 1 213,833 12/31/95 MANAGEMENT COMPANY 60,693 1/1/96 3/31/96 BORROWER 100.0% 5/9/96
67 1 186,860 12/31/95 BORROWER 186,860 1/1/95 12/31/95 BORROWER 98.6% 1/1/96
68 1 204,634 12/31/95 BORROWER 122,468 1/1/96 6/30/96 BORROWER 100.0% 6/30/96
69 1 152,600 12/1/95 PROSPECTUS 31,832 1/1/96 3/31/96 BORROWER 98.3% 4/5/96
70 1 203,713 12/31/94 BORROWER 160,621 1/1/95 9/30/95 BORROWER 100.0% 11/15/95
71 1 167,756 12/31/95 BORROWER 39,630 1/1/96 3/31/96 BORROWER 71.3% 5/9/96
72 1 210,850 12/31/95 ACCOUNTANT 52,982 1/1/96 3/31/96 BORROWER 83.2% 3/31/96
73 1 163,461 12/31/94 BORROWER 132,686 1/1/95 8/31/95 BORROWER 100.0% 11/17/95
74 1 147,263 12/31/95 BORROWER 76,475 1/1/96 6/30/96 BORROWER 97.0% 6/30/96
75 1 132,000 12/31/95 BORROWER 132,000 1/1/95 12/31/95 BORROWER 100.0% 11/13/95
76 1 132,384 12/31/95 BORROWER 145,837 1/1/95 12/31/95 BORROWER 83.5% 1/1/96
77 1 138,683 12/31/95 BORROWER 92,587 1/1/96 6/30/96 BORROWER 95.8% 6/30/96
78 1 134,916 12/31/95 BORROWER 36,655 1/1/96 3/31/96 BORROWER 100.0% 4/30/96
79 1 180,809 12/31/95 BORROWER 70,580 1/1/96 6/30/96 BORROWER 97.7% 6/30/96
80 1 105,904 12/1/95 PROSPECTUS N/A N/A N/A N/A 85.3% 10/1/95
81 1 99,584 12/31/95 BORROWER 51,340 1/1/96 6/30/96 BORROWER 95.0% 7/29/96
82 1 116,739 12/31/95 BORROWER 61,077 1/1/96 6/30/96 BORROWER 97.4% 6/30/96
83 1 92,465 12/31/95 BORROWER 32,910 1/1/96 6/30/96 BORROWER 92.0% 6/30/96
83 2 43,894 12/31/95 BORROWER 28,762 1/1/96 6/30/96 BORROWER 94.0% 6/30/96
84 1 88,265 12/31/95 BORROWER 52,964 1/1/96 6/30/96 BORROWER 89.0% 6/30/96
85 1 69,614 12/31/95 N/A 63,089 1/1/96 6/30/96 BORROWER 98.3% 6/30/96
</TABLE>
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<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: SEPTEMBER, 1996
DATE PRINTED: 27-SEP-96
LOAN 01 - 1: Partial Year Statement Comment: 6/30/96 - REVENUE BASED
ON LEASE PAYMENT AT $1,338,500/YEAR WITH ALL EXPENSES PAID BY TENANT. DATA
ALSO RECEIVED INDICATES THAT FOR QUARTER ENDED 5/4/96 TENANT SALES/SF OF
SELLING SPACE WERE $232.45, WHILE SALES/SF OF TOTAL SPACE WERE $182.59.
LOAN 02 - 1: Partial Year Statement Comment: 6/30/96 - STATEMENT IS
BASED ON REVENUE FROM LONG TERM LEASE. DATA ALSO RECEIVED WHICH INDICATES
TENANT'S QUARTER ENDED 5/4/96 SALES/SF OF SELLING SPACE WERE $176.30, WHILE
SALES/SF OF TOTAL SPACE WERE $113.65.
LOAN 03 - 1: Latest Annual Statement Comment: 12/31/95 - REVENUE IS 19%
BELOW BASELINE PROJECTION, BUT 29% ABOVE 1994. TWO LEASES (32% OF NRSF)
COMMENCED IN SEPTEMBER OF 1995. ONE OF THESE LEASES (26% OF NRSF) INCLUDED
THREE MONTHS FREE RENT.
LOAN 04 - 3:
LOAN 04 - 1:
LOAN 05 - 1:
LOAN 06 - 1: Partial Year Statement Comment: 6/30/96 - MANAGEMENT
REPRESENTATIVE BELIEVES THERE WAS SOME CARRYOVER FROM 1995 EXPENSES THAT DID
NOT GET PAID UNITL 1996.
LOAN 07 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 3/31/96 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S RETAIL
BUSINESS.
LOAN 08 - 1: Latest Annual Statement Comment: 12/1/95 - SINGLE TENANT
WITH AN ABSOLUTE NET LEASE. TENANT IS RESPONSIBLE FOR ALL OPERATING
EXPENSES. A 2% MANAGEMENT FEE WAS USED IN THE BASELINE.
LOAN 09 - 1:
LOAN 10 - 1:
LOAN 11 - 1: Latest Annual Statement Comment: 12/31/95 - RENTAL REVENUE
IS 10% BELOW BASELINE PROJECTIONS AND 7% BELOW 1994. HOWEVER, RENT ROLL
INDICATES BASE SCHEDULED RENTAL REVENUE IN LINE WITH BASELINE PROJECTIONS
WITH THE TENANTS THAT ARE IN PLACE. CAPITAL EXPENSES INCLUDE $45,000 IN
LOAN FEES.
LOAN 12 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 6/30/96 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S RETAIL
BUSINESS.
LOAN 13 - 1:
LOAN 14 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE. Partial Year Statement
Comment: 6/30/96 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S RETAIL
BUSINESS.
LOAN 15 - 1: Partial Year Statement Comment: 6/30/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
LOAN 16 - 1:
LOAN 17 - 1:
LOAN 18 - 1:
LOAN 19 - 1:
LOAN 20 - 1: Partial Year Statement Comment: 6/30/96 - YEAR TO DATE
STATEMENT DOES NOT INLUDE ANY PROPERTY TAX EXPENSE.
Page - 25
<PAGE>
LOAN 21 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE PROPERTY TAX EXPENSE. HOWEVER, TENANT PAYS TAXES
DIRECTLY AND PASS THROUGH INCOME IS NOT REPORTED EITHER.
LOAN 22 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING EXPENSES ARE 12% BELOW BASELINE PROJECTION, BUT IN LINE WITH
PREVIOUS YEARS.
LOAN 23 - 1: Latest Annual Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF GROCERY STORE WHICH OPERATES IN PROPERTY.
LOAN 24 - 1: Latest Annual Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF GROCERY STORE WHICH OPERATES IN PROPERTY. GROCERY
STORE OPENED IN OCTOBER, 1994. CUSTOMER COUNTS HAVE NOT YET REACHED LEVELS
OF SIMILAR STORES ON RELATED LOANS.
LOAN 25 - 1: Latest Annual Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF GROCERY STORE WHICH OPERATES IN PROPERTY.
LOAN 26 - 1:
LOAN 27 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE PROPERTY TAX EXPENSE.
LOAN 28 - 1: Latest Annual Statement Comment: 12/31/95 - OPERATING
STATEMENT REFLECTS ACTUAL OPERATIONS OF ADULT CARE FACILITY LESS LEASE
PAYMENT TO BORROWER IN ORDER TO ANALYZE PROPERTY OPERATIONS IN RELATION TO
DEBT SERVICE.
LOAN 29 - 1:
LOAN 30 - 1: Latest Annual Statement Comment: 11/30/95 - FISCAL PERIOD
12/01/94 TO 11/30/95. Partial Year Statement Comment: 2/29/96 - FISCAL
PERIOD 12/01/95 TO 11/30/96.
LOAN 30 - 2: Latest Annual Statement Comment: 11/30/95 - FISCAL PERIOD
12/01/94 TO 11/30/95. ACCORDING TO THE FOOTNOTES, BOTH INCOME AND EXPENSES
WERE ARTIFICIALLY INCREASED IN 1995 DUE TO A SMALL FIRE CLAIM. Partial
Year Statement Comment: 2/29/96 - FISCAL PERIOD 12/01/95 TO 11/30/96.
LOAN 30 - 3: Latest Annual Statement Comment: 11/30/95 - FISCAL PERIOD
12/01/94 TO 11/30/95. Partial Year Statement Comment: 2/29/96 - FISCAL
PERIOD 12/01/95 TO 11/30/96.
LOAN 31 - 1: Status Comment: Outside counsel to prepare assumption
agreement.
LOAN 32 - 1:
LOAN 33 - 1:
LOAN 34 - 1:
LOAN 35 - 1: Partial Year Statement Comment: 5/19/96 - STATEMENT
REFLECTS OPERATIONS OF OWNER-OCCUPANT'S RETAIL BUSINESS.
LOAN 35 - 2: Partial Year Statement Comment: 5/19/96 - STATEMENT
REFLECTS OPERATIONS OF OWNER-OCCUPANT'S RETAIL BUSINESS.
LOAN 36 - 1: Partial Year Statement Comment: 6/30/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 37 - 1:
LOAN 38 - 1:
LOAN 39 - 1:
LOAN 40 - 1:
LOAN 41 - 1:
LOAN 42 - 1: Latest Annual Statement Comment: 9/30/95 - FISCAL YEAR END
9/30/95.
Page - 26
<PAGE>
LOAN 43 - 1: Latest Annual Statement Comment: 12/31/95 - REVENUE IS 14%
BELOW PREVIOUS YEAR AND 12% BELOW BASELINE. BORROWER REPRESENTATIVE
INDICATES THAT THEY HAVE LOST A COUPLE OF TENANTS, BUT ARE IN THE PROCESS OF
REPLACING THESE TENANTS. SCHEDULED RENTAL REV FROM NEW RENT ROLL IS IN
LINE WITH BASELINE. Partial Year Statement Comment: 3/31/96 - REVENUE
IS 11% BELOW BASELINE. BORROWER REPRESENTATIVE INDICATES THAT THEY HAVE
REPLACED 2 TENANTS WHO WILL START PAYING RENT IN 6 MONTHS. REPAIRS AND
MAINTENANCE WERE HIGH DUE TO WINTER REPAIRS, BUT WILL DECREASE IN FUTURE
QUARTERS.
LOAN 44 - 1:
LOAN 45 - 1:
LOAN 46 - 1: Latest Annual Statement Comment: 12/31/95 - CAPITAL
EXPENSES ARE COMPRISED OF FINANCING COSTS.
LOAN 47 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
LOAN 48 - 1:
LOAN 49 - 1:
LOAN 50 - 1: Latest Annual Statement Comment: 12/31/95 - CAPITAL
EXPENSES INCLUDE LOAN FEES.
LOAN 51 - 1:
LOAN 52 - 1:
LOAN 53 - 1: Status Comment: Compromise at payoff included reduction in
prepayment penalty. Loan is related to two other loans (one in PSSFC 1995
C1 & one in PSSFC 1995 MCF2) which have also been transferred to special
servicer.
LOAN 54 - 1:
LOAN 55 - 1: Latest Annual Statement Comment: 12/31/95 - REVENUE IS 7%
BELOW BASELINE EXPECTATION, WHILE EXPENSES ARE CONSISTENT WITH BASELINE
EXPECTATIONS. OCCUPANCY HAS DECLINED FROM 97% IN SEPT OF 1995 TO 81% ON
1995 YEAR END RENT ROLL. DECLINE IS PARTIALLY DUE TO DECISION TO EVICT
SLOW/NON-PAYING TENANTS.
LOAN 56 - 1:
LOAN 57 - 1: Latest Annual Statement Comment: 12/31/94 - STATEMENT IS
NOT FOR A FULL YEAR. Partial Year Statement Comment: 3/31/96 - REVENUE
IS 18% BELOW BASELINE PROJECTION DUE TO RENOVATIONS OF ABOUT 10 UNITS AT A
TIME. THESE RENOVATIONS SHOULD BE COMPLETE BY SUMMERS END.
LOAN 57 - 4: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX, INSURANCE, OR UTILITY EXPENSE.
LOAN 57 - 3: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 57 - 2: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
LOAN 58 - 1:
LOAN 59 - 1:
LOAN 60 - 1: Latest Annual Statement Comment: 12/31/95 - EXPENSES ARE
20% ABOVE BASELINE EXPECTATIONS, WHILE TOTAL REVENUE IS ONLY 1% ABOVE
BASELINE EXPECTATIONS. UTILITIES INCREASED 51% OVER THE BASELINE, AND
REPAIRS AND MAINTENANCE INCREASED 52% OVER THE BASELINE.
LOAN 61 - 1: Partial Year Statement Comment: 3/31/96 - ALL OPERATING
EXPENSES ARE PAID BY TENANT.
LOAN 62 - 1: Latest Annual Statement Comment: 12/31/95 - PROPERTY IS
LEASED ON A 10 YEAR TRIPLE NET LEASE WITH ALL EXPENSES PASSED THROUGH TO
TENANT.
Page - 27
<PAGE>
LOAN 63 - 1:
LOAN 64 - 1: Latest Annual Statement Comment: 12/31/95 - ANNUAL
STATEMENT DID NOT INCLUDE ANY PROPERTY TAX EXPENSE. Partial Year
Statement Comment: 6/30/96 - YEAR TO DATE STATEMENT DOES NOT INCLUDE ANY
PROPERTY TAX EXPENSE.
LOAN 65 - 1:
LOAN 66 - 1:
LOAN 67 - 1:
LOAN 68 - 1: Latest Annual Statement Comment: 12/31/95 - ANNUAL
PROPERTY TAXES REPORTED ON BORROWER STATEMENT ARE APPROXIMATELY $33,000
GREATER THAN ESTIMATE BASED ON SERVICING INFORMATION. ENTERED ESTIMATE
BASED ON SERVICING INFORMATION. Partial Year Statement Comment: 6/30/96
- TOTAL REVENUE IS 6% ABOVE BASELINE EXPECTATIONS, WHILE EXPENSES ARE 51%
BELOW BASELINE EXPECTATIONS.
LOAN 69 - 1: Partial Year Statement Comment: 3/31/96 - YEAR TO DATE
OPERATING EXPENSE IS 15% ABOVE BASELINE PROJECTION. VARIANCES ARE IN
INSURANCE, PROPERTY TAX, AND UTILITY EXPENSES. INSURANCE, THE LARGEST
VARIANCE, IS 161% OF THE BASELINE ESTIMATE, BUT CONSISTENT WITH SERVICING
INFORMATION.
LOAN 70 - 1: Status Comment: This loan is consistently delinquent and
late charges are accumulating.
LOAN 71 - 1: Partial Year Statement Comment: 3/31/96 - PROPERTY
EXPERIENCED A DECREASE IN OCCUPANCY OF 8.7%, CAUSING TOTAL REVENUE TO
DECREASE 11% BELOW BASELINE EXPECTATIONS.
LOAN 72 - 1:
LOAN 73 - 1:
LOAN 74 - 1: Latest Annual Statement Comment: 12/31/95 - REVENUE IS 16%
ABOVE BASELINE EXPECTATION AND 26% ABOVE PREVIOUS YEAR.
LOAN 75 - 1:
LOAN 76 - 1:
LOAN 77 - 1: Partial Year Statement Comment: 6/30/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 78 - 1:
LOAN 79 - 1:
LOAN 80 - 1:
LOAN 81 - 1:
LOAN 82 - 1: Latest Annual Statement Comment: 12/31/95 - $39,620 IN
PROFESSIONAL FEES MOVED TO CAPITAL EXPENSE BASED ON DISCUSSION WITH BORROWER
WHO INDICATES THESE ARE NON-RECURRING FINANCING COSTS. IN ADDITION,
REPAIRS AND MAINTENANCE INCREASED 44% FROM 1994 AND 62% FROM BASELINE
EXPECTATIONS.
LOAN 83 - 2: Latest Annual Statement Comment: 12/31/95 - OPERATING
STATEMENT INCLUDES $7,500 GREATER PROPERTY TAX EXPENSE THAN ESTIMATED FROM
SERVICING INFORMATION.
LOAN 83 - 1: Latest Annual Statement Comment: 12/31/95 - RECLASSIFIED
FINANCING EXPENSE AND LARGE ONE TIME REPAIR/REPLACEMENT EXPENSE AS CAPITAL
ITEMS.
LOAN 84 - 1:
LOAN 85 - 1: Partial Year Statement Comment: 6/30/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX EXPENSE.
Page - 28
