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) February 25, 1997
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 February 25, 1997, 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
February 25, 1997.
Loan data file as of the February 1997 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: February 25, 1997
EXHIBIT INDEX
Sequential
Page Number
Document
Monthly Remittance Statement to the Certificateholders 3
dated as of February 25, 1997
Loan data file as of February 1997 18
Page - 2
ABN AMRO Statement Date: 02/25/97
LaSalle National Bank Payment Date: 02/25/97
Administrator: Prior Payment: 01/27/97
Barbara Marik (800) 246-5761 Record Date: 01/31/97
135 S. LaSalle Street Suite 1740
Chicago, IL 60603 WAC: 8.799149%
WAMM: 134
<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
<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 69,770,787.87 290,815.79
74436JCT2 1000.000000 930.277172 3.877544
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 217,056,960.87 0.00
74436JCV7 1000.000000 976.475315 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
74436JDC8 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
- ------------------- ---------------- ---------------- ----------------
222,286,173.25 217,056,961.12 290,815.79
================ ================ ================
<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 69,479,972.08
74436JCT2 0.000000 0.000000 926.399628
A-2 0.00 0.00 65,040,000.00
74436JCU9 0.000000 0.000000 1000.000000
A-EC 0.00 0.00 216,766,145.08
74436JCV7 0.000000 0.000000 975.167021
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
74436JDC8 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 0.00 216,766,145.33
================ ================ ================
Total P&I Payment 1,840,013.65
============
<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-1 379,378.66 0.00 6.525000%
74436JCT2 5.058382 0.000000 Fixed
A-2 370,728.00 0.00 6.840000%
74436JCU9 5.700000 0.000000 Fixed
A-EC 264,350.05 0.00 1.461460%
74436JCV7 1.189233 0.000000 1.460724%
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 39,661.90 0.00 8.564745%
74436JDA2 7.137286 0.000000 8.564792%
G 87,260.47 0.00 8.564745%
74436JDB0 7.137287 0.000000 8.564792%
H 79,323.81 0.00 8.564745%
74436JDC8 7.137287 0.000000 8.564792%
J-1 0.00 0.00 None
74436JDD6 0.000000 0.000000 0.000000%
J-2 47,599.81 0.00 8.564745%
74436JDE4 7.137288 0.000000 8.564792%
R 0.00 0.00 None
74436JDF1 0.000000 0.000000 0.000000%
- ------------------- ---------------- ---------------- ----------------
1,549,197.86 0.00 0.00
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
(3) Estimated
</FN>
</TABLE>
Page - 4
<PAGE>
<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
<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 69,770,787.87 290,815.79
None 1000.000000 930.277172 3.877544
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
- ------------------- ---------------- ---------------- ----------------
222,286,173.00 217,056,961.12 290,815.79
================ ================ ================
<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 69,479,972.08
None 0.000000 0.000000 926.399628
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 0.00 216,766,145.33
================ ================ ================
Total P&I Payment 1,840,013.65
============
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-1 497,974.15 0.00 8.564745%
None 6.639655 0.000000 8.564792%
A-L-2 464,209.16 0.00 8.564745%
None 7.137287 0.000000 8.564792%
B-L 63,457.62 0.00 8.564745%
None 7.137287 0.000000 8.564792%
C-L 95,190.00 0.00 8.564745%
None 7.137287 0.000000 8.564792%
D-L 63,464.76 0.00 8.564745%
None 7.137287 0.000000 8.564792%
E-L 111,056.18 0.00 8.564745%
None 7.137287 0.000000 8.564792%
F-L 39,661.90 0.00 8.564745%
None 7.137286 0.000000 8.564792%
G-L 87,260.47 0.00 8.564745%
None 0.392559 0.000000 8.564792%
H-L 79,323.81 0.00 8.564745%
None 7.137287 0.000000 8.564792%
J-L 47,599.81 0.00 8.564745%
None 7.137288 0.000000 8.564792%
LR 0.00 0.00 None
74436JDG9 0.000000 0.000000 0.000000%
- ------------------- ---------------- ---------------- ----------------
1,549,197.86 0.00
================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
(3) Estimated
</FN>
</TABLE>
P&I ADVANCE INCLUDED IN DISTRIBUTION
Class Amount Amount Per $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 9,345.90 0.000841
J-1 NA 0.000000
J-2 47,599.81 0.007137
INTEREST SHORTFALL
Class Amount Amount Per $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 4,017.21 0.000602
Remittance Interest 1,549,197.86
Remittance Principal 290,815.79
Pooled Available Funds 1,840,013.65
BEGINNING POOL ENDING POOL
Balance 217,056,961.11 Balance 216,766,145.32
Count 84 Count 84
Servicing Additional Special
Fee Servicing Compensation Servicing Fee Disposition Fee
40,805.22 0.00 0.00 0.00
Page - 6
<PAGE>
Prepayment Net Default
Premiums Received Default Interest Interest
0.00 0.00 0.00
<TABLE>
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
<CAPTION>
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
<S> <C> <C> <C> <C> <C> <C>
02/25/97 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/27/97 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
12/26/96 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
11/25/96 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
10/25/96 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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>
<TABLE>
<CAPTION>
Distribution Foreclosure/Bankruptcy (1) REO(1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
02/25/97 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
01/27/97 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
12/26/96 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
11/25/96 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
10/25/96 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
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
02/25/97 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
01/27/97 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
12/26/96 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
11/25/96 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
10/25/96 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000%
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
02/25/97 8.79920% 8.5648%
01/27/97 8.79915% 8.5647%
12/26/96 8.79909% 8.5647%
11/25/96 8.79904% 8.5646%
10/25/96 8.79898% 8.5646%
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%
Disclosure Paid Current
Doc Thru P&I
Control # Period Date Advance
70 199702 01/01/97 9,335.50
5 199702 01/01/97 47,610.21
- -- ---------- ---------- ----------
TOTALS: 56,945.71
==========
Page - 8
<PAGE>
<TABLE>
<CAPTION>
Outstanding
Disclosure Outstanding Property
Doc P&I Protection Advance Loan
Control # Advances(3) Advances Description (1) Status (2)
<S> <C> <C> <C> <C>
70 9,335.50 0.00 B 0
5 47,610.21 0.00 B 0
- -- --------- ---------- ------- -------
TOTALS: 56,945.71 0.00 -- 0
========= ========== ======= =======
<FN>
(1) 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
(2) 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
(3) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
Special
Disclosure Servicer
Doc Transfer Foreclosure Bankruptcy REO
Control # Date Date Date Date
70
5
TOTALS:
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 3,402,292 1.57%
$750000 to $1000000 ........... 7 6,089,420 2.81%
$1000000 to $1250000 .......... 6 6,739,571 3.11%
$1250000 to $1500000 .......... 13 17,639,679 8.14%
$1500000 to $1750000 .......... 5 8,265,548 3.81%
$1750000 to $2000000 .......... 5 9,580,943 4.42%
$2000000 to $2500000 .......... 8 17,886,346 8.25%
$2500000 to $3000000 .......... 11 30,262,476 13.96%
$3000000 to $3500000 .......... 4 12,994,233 5.99%
$3500000 to $4000000 .......... 6 22,403,830 10.34%
$4000000 to $4500000 .......... 4 17,386,785 8.02%
$4500000 to $5000000 .......... 1 4,675,809 2.16%
$5000000 to $5500000 .......... 2 10,552,108 4.87%
$5500000 to $6000000 .......... 1 5,988,832 2.76%
$6000000 to $6500000 .......... 1 6,393,893 2.95%
$6500000 to $7000000 .......... 2 13,131,237 6.06%
$7000000 to $7500000 .......... 1 7,219,411 3.33%
$7500000 to $8000000 .......... 0 0 0.00%
$8000000 & above .............. 2 16,153,730 7.45%
- ------------------------------- --- ------------ ------
84 216,766,145 100.00%
=== ============ ======
Average Scheduled Balance is 2,580,549
Maximum Scheduled Balance is 8,143,096
Minimum Scheduled Balance is 589,396
Page - 9
<PAGE>
DISTRIBUTION OF PROPERTY TYPES
Scheduled
Property Number Principal Based on
Types of Loans Balance Balance
Retail ........................ 31 95,320,766 43.97%
Multi-Family Housing .......... 21 44,367,946 20.47%
Light Industrial .............. 9 16,823,763 7.76%
Office ........................ 7 13,669,002 6.31%
Congregate Care ............... 3 12,853,285 5.93%
Office/Retail ................. 2 10,058,191 4.64%
Office/Multi-Fam\Retail ....... 1 7,219,411 3.33%
Self Service Storage .......... 3 4,027,667 1.86%
Mobile Home Park .............. 2 3,572,433 1.65%
Ind./Warehouse/Office ......... 2 3,047,738 1.41%
Hospitality ................... 1 2,913,677 1.34%
Other ......................... 2 2,892,264 1.33%
--- ------------ ------
Total ......................... 84 216,766,145 100.00%
=== ============ ======
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 13,239,709 6.11%
8.000% to 8.250% .............. 6 23,562,090 10.87%
8.250% to 8.500% .............. 10 24,885,219 11.48%
8.500% to 8.750% .............. 14 51,464,435 23.74%
8.750% to 9.000% .............. 16 27,511,491 12.69%
9.000% to 9.250% .............. 14 29,992,358 13.84%
9.250% to 9.500% .............. 8 18,379,580 8.48%
9.500% to 9.750% .............. 10 22,648,142 10.45%
9.750% to 10.000 .............. 2 3,958,501 1.83%
10.000% to 10.25 .............. 1 1,124,620 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 ......................... 84 216,766,145 100.00%
=== ============ ======
Weighted Average Mortgage Interest Rate is 8.7991%
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 36,598,252 16.88%
Texas ......................... 14 30,766,835 14.19%
Massachusetts ................. 4 19,283,691 8.90%
Florida ....................... 5 18,491,204 8.53%
New York ...................... 5 15,092,942 6.96%
Tennessee ..................... 2 9,307,570 4.29%
District of Columbia .......... 2 9,077,634 4.19%
Minnesota ..................... 5 8,627,519 3.98%
Oklahoma ...................... 4 8,223,368 3.79%
Virginia ...................... 2 5,740,909 2.65%
Maryland ...................... 2 5,706,501 2.63%
Louisiana ..................... 2 5,104,337 2.35%
Colorado ...................... 3 4,310,525 1.99%
Rhode Island .................. 1 3,905,547 1.80%
Arkansas ...................... 1 3,825,657 1.76%
Missouri ...................... 2 3,803,476 1.75%
New Jersey .................... 2 3,106,569 1.43%
New Mexico .................... 2 2,981,348 1.38%
Kentucky ...................... 1 2,739,554 1.26%
Nebraska ...................... 1 2,732,527 1.26%
Arizona ....................... 2 2,534,409 1.17%
Michigan ...................... 1 2,520,938 1.16%
Kansas ........................ 1 2,220,013 1.02%
Indiana ....................... 1 1,874,268 0.86%
Alaska ........................ 1 1,638,065 0.76%
Ohio .......................... 2 1,475,737 0.68%
Illinois ...................... 1 1,325,805 0.61%
Washington .................... 1 1,282,081 0.59%
Mississippi ................... 1 980,089 0.45%
Connecticut ................... 1 775,703 0.36%
New Hampshire ................. 1 713,073 0.33%
--- ------------ ------
Total ......................... 84 216,766,145 100.00%
=== ============ ======
LOAN SEASONING
Scheduled
Number Principal Based on
Number of Years of Loans Balance Balance
1 year or less ................ 4 25,881,035 11.94%
1+ to 2 years ................. 79 184,266,960 85.01%
2+ to 3 years ................. 0 0 0.00%
3+ to 4 years ................. 1 6,618,151 3.05%
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 ......................... 84 216,766,145 100.00%
=== ============ ======
Weighted Average Seasoning is 1.2
DISTRIBUTION OF AMORTIZATION TYPE
Scheduled
Number Principal Based on
Amortization Type of Loans Balance Balance
Fully Amortizing .............. 9 25,886,585 11.94%
Amortizing Balloon ............ 75 190,879,560 88.06%
--- ------------ ------
Total ......................... 84 216,766,145 100.00%
=== ============ ======
Page - 11
<PAGE>
DISTRIBUTION OF REMAINING TERM
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 .............. 6 11,602,187 5.35%
181 to 240 month .............. 3 14,284,398 6.59%
241 to 360 month .............. 0 0 0.00%
- ------------------------------- --- ------------ ------
Total ......................... 9 25,886,585 11.94%
=== ============ ======
Weighted Average Months to Maturity is 194
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Scheduled
Balloon Number Principal Based on
Mortgage Loans of Loans Balance Balance
12 months or les .............. 0 0 0.00%
13 to 24 months ............... 0 0 0.00%
25 to 36 months ............... 0 0 0.00%
37 to 48 months ............... 1 4,675,809 2.16%
49 to 60 months ............... 0 0 0.00%
61 to 120 months .............. 24 71,111,542 32.81%
121 to 180 month .............. 50 115,092,210 53.10%
181 to 240 month .............. 0 0 0.00%
- ------------------------------- --- ------------ ------
Total ......................... 75 190,879,560 88.06%
=== ============ ======
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 ................. 3 13,521,226 6.24%
1.001 to 1.125 ................ 2 3,562,395 1.64%
1.126 to 1.250 ................ 7 17,101,008 7.89%
1.251 to 1.375 ................ 19 44,973,836 20.75%
1.376 to 1.500 ................ 13 38,416,937 17.72%
1.501 to 1.625 ................ 17 51,179,883 23.61%
1.626 to 1.750 ................ 9 18,653,213 8.61%
1.751 to 1.875 ................ 5 7,658,555 3.53%
1.876 to 2.000 ................ 2 2,575,619 1.19%
2.001 to 2.125 ................ 2 7,946,920 3.67%
2.126 to 2.250 ................ 1 2,992,858 1.38%
2.251 to 2.375 ................ 1 813,223 0.38%
2.376 to 2.500 ................ 0 0 0.00%
2.501 to 2.625 ................ 0 0 0.00%
2.626 & above ................. 1 3,177,603 1.47%
Unknown ....................... 2 4,192,869 1.93%
--- ------------ ------
Total ......................... 84 216,766,145 100.00%
=== ============ ======
<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>
Weighted Average Debt Service Coverage Ratio is 145.918%
Page - 12
<PAGE>
NOI AGING
Scheduled
Number Principal Based on
NOI Date of Loans Balance Balance
1 year or less ................ 1 2,103,623 0.97%
1+ to 2 years ................. 72 190,753,932 88.00%
2+ to above ................... 11 23,908,591 11.03%
Unknown ....................... 0 0 0.00%
--- ------------ ------
Total ......................... 84 216,766,145 100.00%
=== ============ ======
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 Housi -- 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
Page - 13
<PAGE>
LOAN LEVEL DETAIL, Continued
Special
Offering Servicer
Circular Property Transfer Maturity
Control # Type Date State Date
52 Retail -- AK 09/01/2010
53 Multi-Family Housi -- 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
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
LOAN LEVEL DETAIL, Continued
Offering Beginning Scheduled
Circular Scheduled Note Principal Prepayments
Control # Balance Rate Payment /Liquidations
1 8,151,676 8.5900% 8,580 0
2 8,019,075 8.5900% 8,440 0
3 7,232,072 8.7500% 12,661 0
4 6,627,101 8.3500% 8,951 0
5 6,515,846 8.5100% 2,759 0
6 6,401,304 8.0800% 7,411 0
7 5,994,538 9.3900% 5,706 0
8 5,302,948 8.0500% 17,146 0
9 5,272,542 7.8900% 6,236 0
10 4,681,337 7.9000% 5,528 0
11 4,446,196 8.5700% 4,694 0
12 4,410,796 9.3900% 4,199 0
13 4,253,862 8.2000% 10,981 0
14 4,299,967 9.2300% 4,161 0
15 3,912,604 8.4200% 7,058 0
16 3,850,900 8.7700% 3,973 0
17 3,830,303 9.2400% 4,647 0
18 3,651,291 8.6500% 7,982 0
19 3,641,424 8.2000% 4,139 0
20 3,548,730 8.9400% 3,625 0
21 3,374,769 8.3000% 3,777 0
22 3,301,499 7.8900% 3,905 0
23 3,180,572 9.5700% 2,969 0
24 3,150,985 9.5700% 2,941 0
25 2,995,655 9.5700% 2,796 0
26 2,918,339 9.9300% 4,662 0
27 2,899,028 8.6400% 3,103 0
28 2,827,109 9.5500% 5,003 0
29 2,737,564 8.2500% 5,037 0
30 2,761,385 9.1400% 2,734 0
31 2,743,329 9.1000% 3,775 0
32 2,667,188 8.9900% 2,658 0
Page - 14
<PAGE>
LOAN LEVEL DETAIL, Continued
Offering Beginning Scheduled
Circular Scheduled Note Principal Prepayments
Control # Balance Rate Payment /Liquidations
33 2,662,281 9.0600% 2,669 0
34 2,564,472 9.6200% 2,375 0
35 2,525,593 8.3100% 4,655 0
36 2,468,323 8.7300% 2,563 0
37 2,365,737 9.3500% 2,286 0
38 2,307,753 8.3100% 4,217 0
39 2,222,259 8.9000% 2,246 0
40 2,167,642 9.7000% 6,246 0
41 2,169,365 9.0800% 2,168 0
42 2,105,698 9.1700% 2,075 0
43 2,103,507 9.0800% 2,139 0
44 1,998,442 9.0000% 2,005 0
45 1,997,148 9.5800% 1,861 0
46 1,876,195 8.8000% 1,927 0
47 1,859,967 8.7200% 3,238 0
48 1,861,354 9.0100% 3,131 0
49 1,731,422 8.8500% 1,779 0
50 1,678,837 8.8400% 1,713 0
51 1,630,809 8.4500% 5,207 0
52 1,640,693 9.6600% 2,628 0
53 0 0.0000% 0 0
54 1,599,237 9.3900% 4,122 0
55 1,479,869 8.3700% 1,625 0
56 1,465,714 8.6900% 2,584 0
57 1,463,606 8.6200% 2,579 0
58 1,430,442 9.7000% 1,308 0
59 1,393,347 9.3200% 1,365 0
60 1,378,294 9.2400% 1,367 0
61 1,329,984 9.1700% 2,587 1,592
62 1,330,096 9.1500% 1,326 0
63 1,273,828 8.1500% 4,126 0
64 1,307,256 8.8700% 1,339 0
65 1,271,220 8.3100% 2,323 0
66 1,283,422 8.6900% 1,341 0
67 1,259,331 8.9200% 1,269 0
68 1,219,737 9.3800% 2,020 0
69 1,183,220 8.6000% 1,264 0
70 1,135,821 8.9000% 1,148 0
71 1,126,340 10.0600% 1,720 0
72 1,047,947 9.8300% 3,122 0
73 1,036,844 8.8000% 1,065 0
74 981,204 8.4100% 1,115 0
75 909,763 8.8600% 957 0
76 887,713 8.7500% 926 0
77 887,244 8.9700% 902 0
78 839,333 8.7900% 863 0
79 814,103 8.4700% 880 0
80 776,472 9.3600% 769 0
81 738,835 9.0900% 744 0
82 722,707 9.6700% 1,156 0
83 713,780 9.2500% 707 0
84 640,795 9.4000% 614 0
85 590,022 8.8000% 626 0
- -- ----------- -------- ------ -----
- -- 217,056,961 -- 289,224 1,592
=========== ======== ====== =====
Page - 15
<PAGE>
<TABLE>
LOAN LEVEL DETAIL, Continued
<CAPTION>
Offering Paid Prepayment Loan
Circular Prepayment Through Premium Status
Control # Date Date Amount Code (1)
<S> <C> <C> <C> <C>
1 -- 02/01/97 -- --
2 -- 02/01/97 -- --
3 -- 02/01/97 -- --
4 -- 02/01/97 -- --
5 -- 01/01/97 -- --
6 -- 02/01/97 -- --
7 -- 02/01/97 -- --
8 -- 02/01/97 -- --
9 -- 02/01/97 -- --
10 -- 02/01/97 -- --
11 -- 02/01/97 -- --
12 -- 02/01/97 -- --
13 -- 02/01/97 -- --
14 -- 02/01/97 -- --
15 -- 02/01/97 -- --
16 -- 02/01/97 -- --
17 -- 02/01/97 -- --
18 -- 02/01/97 -- --
19 -- 02/01/97 -- --
20 -- 02/01/97 -- --
21 -- 02/01/97 -- --
22 -- 02/01/97 -- --
23 -- 02/01/97 -- --
24 -- 02/01/97 -- --
25 -- 02/01/97 -- --
26 -- 02/01/97 -- --
27 -- 02/01/97 -- --
28 -- 02/01/97 -- --
29 -- 02/01/97 -- --
30 -- 02/01/97 -- --
31 -- 02/01/97 -- 0
32 -- 02/01/97 -- --
33 -- 02/01/97 -- --
34 -- 02/01/97 -- --
35 -- 02/01/97 -- --
36 -- 02/01/97 -- --
37 -- 02/06/97 -- --
38 -- 02/01/97 -- --
39 -- 02/01/97 -- --
40 -- 02/01/97 -- --
41 -- 02/01/97 -- --
42 -- 02/01/97 -- --
43 -- 02/01/97 -- --
44 -- 02/01/97 -- --
45 -- 02/01/97 -- --
46 -- 02/01/97 -- --
47 -- 02/01/97 -- --
48 -- 02/01/97 -- --
49 -- 02/01/97 -- --
50 -- 02/01/97 -- --
51 -- 02/01/97 -- --
52 -- 02/01/97 -- --
53 06/01/96 -- -- 1
<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>
LOAN LEVEL DETAIL, Continued
<CAPTION>
Offering Paid Prepayment Loan
Circular Prepayment Through Premium Status
Control # Date Date Amount Code (1)
<S> <C> <C> <C> <C>
54 -- 02/01/97 -- --
55 -- 02/01/97 -- --
56 -- 02/01/97 -- --
57 -- 02/01/97 -- --
58 -- 02/01/97 -- --
59 -- 02/01/97 -- --
60 -- 02/01/97 -- --
61 -- 02/01/97 -- --
62 -- 02/01/97 -- --
63 -- 02/01/97 -- --
64 -- 02/01/97 -- --
65 -- 02/01/97 -- --
66 -- 02/01/97 -- --
67 -- 02/01/97 -- --
68 -- 02/01/97 -- --
69 -- 02/01/97 -- --
70 -- 01/01/97 -- --
71 -- 02/01/97 -- --
72 -- 02/01/97 -- --
73 -- 02/01/97 -- --
74 -- 02/01/97 -- --
75 -- 02/01/97 -- --
76 -- 02/01/97 -- --
77 -- 02/01/97 -- --
78 -- 02/01/97 -- --
79 -- 02/01/97 -- --
80 -- 02/01/97 -- --
81 -- 02/01/97 -- --
82 -- 02/01/97 -- --
83 -- 02/01/97 -- --
84 -- 02/01/97 -- --
85 -- 02/01/97 -- --
<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: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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 8,143,096 0 66.7% 1.51 N/A PERFORMING PERFORM TO MATURITY
02 8,010,635 0 51.4% 1.37 N/A PERFORMING PERFORM TO MATURITY
03 7,219,411 0 64.5% 0.94 N/A PERFORMING PERFORM TO MATURITY
04 6,618,151 0 53.2% 2.12 N/A PERFORMING PERFORM TO MATURITY
05 6,515,846 16 68.6% 1.48 N/A PERFORMING PERFORM TO MATURITY
06 6,393,893 0 56.6% 1.51 N/A PERFORMING PERFORM TO MATURITY
07 5,988,832 0 67.7% 1.36 N/A PERFORMING PERFORM TO MATURITY
08 5,285,802 0 57.8% 1.22 N/A PERFORMING PERFORM TO MATURITY
09 5,266,306 0 72.1% 1.50 N/A PERFORMING PERFORM TO MATURITY
10 4,675,809 0 69.8% 1.34 N/A PERFORMING PERFORM TO MATURITY
11 4,441,502 0 71.6% 1.19 N/A PERFORMING PERFORM TO MATURITY
12 4,406,597 0 63.9% 1.40 N/A PERFORMING PERFORM TO MATURITY
13 4,242,880 0 59.3% 1.29 N/A PERFORMING PERFORM TO MATURITY
14 4,295,806 0 64.1% 1.43 N/A PERFORMING PERFORM TO MATURITY
15 3,905,547 0 71.0% 1.38 N/A PERFORMING PERFORM TO MATURITY
16 3,846,927 0 71.9% 1.36 N/A PERFORMING PERFORM TO MATURITY
17 3,825,657 0 54.7% 1.67 N/A PERFORMING PERFORM TO MATURITY
18 3,643,310 0 72.9% 1.56 N/A PERFORMING PERFORM TO MATURITY
19 3,637,285 0 71.3% 0.82 N/A PERFORMING PERFORM TO MATURITY
20 3,545,105 0 65.7% 1.55 N/A PERFORMING PERFORM TO MATURITY
21 3,370,993 0 69.1% 1.53 N/A PERFORMING PERFORM TO MATURITY
22 3,297,594 0 68.2% 1.53 N/A PERFORMING PERFORM TO MATURITY
23 3,177,603 0 73.9% 3.59 N/A PERFORMING PERFORM TO MATURITY
24 3,148,044 0 73.9% -0.21 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
25 2,992,858 0 73.9% 2.23 N/A PERFORMING PERFORM TO MATURITY
26 2,913,677 0 66.2% 1.73 N/A PERFORMING PERFORM TO MATURITY
27 2,895,925 0 68.8% 1.53 N/A PERFORMING PERFORM TO MATURITY
28 2,822,106 0 50.2% 1.28 N/A PERFORMING PERFORM TO MATURITY
29 2,732,527 0 73.2% 1.26 N/A PERFORMING PERFORM TO MATURITY
30 2,758,651 0 70.7% 1.56 N/A PERFORMING PERFORM TO MATURITY
31 2,739,554 0 73.3% 1.28 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
32 2,664,530 0 74.0% 0.68 N/A PERFORMING PERFORM TO MATURITY
33 2,659,612 0 70.0% 1.32 N/A PERFORMING PERFORM TO MATURITY
34 2,562,097 0 73.2% 1.78 N/A PERFORMING PERFORM TO MATURITY
35 2,520,938 0 73.1% 1.33 N/A PERFORMING PERFORM TO MATURITY
36 2,465,760 0 64.2% 1.42 N/A PERFORMING PERFORM TO MATURITY
37 2,363,451 0 65.7% 1.41 N/A PERFORMING PERFORM TO MATURITY
38 2,303,536 0 50.1% 1.12 N/A PERFORMING PERFORM TO MATURITY
39 2,220,013 0 79.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
40 2,161,396 0 60.0% 1.65 N/A PERFORMING PERFORM TO MATURITY
41 2,167,197 0 71.1% 1.53 N/A PERFORMING PERFORM TO MATURITY
42 2,103,623 0 63.7% 1.52 N/A PERFORMING PERFORM TO MATURITY
43 2,101,368 0 73.7% 1.04 N/A PERFORMING PERFORM TO MATURITY
44 1,996,437 0 71.3% 1.72 N/A PERFORMING PERFORM TO MATURITY
45 1,995,287 0 61.4% 1.56 N/A PERFORMING PERFORM TO MATURITY
46 1,874,268 0 63.5% 1.35 N/A PERFORMING PERFORM TO MATURITY
47 1,856,728 0 62.1% 1.76 N/A PERFORMING PERFORM TO MATURITY
48 1,858,223 0 60.9% 1.56 N/A PERFORMING PERFORM TO MATURITY
49 1,729,643 0 67.2% 1.65 N/A PERFORMING PERFORM TO MATURITY
50 1,677,124 0 67.1% 1.67 N/A PERFORMING PERFORM TO MATURITY
51 1,625,602 0 55.1% 1.23 N/A PERFORMING PERFORM TO MATURITY
52 1,638,065 0 73.1% 1.65 N/A PERFORMING PERFORM TO MATURITY
53 0 0 0.0% N/A N/A INACTIVE PRE-PAID IN FULL
54 1,595,115 0 62.1% 1.33 N/A PERFORMING PERFORM TO MATURITY
55 1,478,244 0 67.3% 1.12 N/A PERFORMING PERFORM TO MATURITY
56 1,463,130 0 58.5% 1.40 N/A PERFORMING PERFORM TO MATURITY
57 1,461,027 0 73.3% 1.09 N/A PERFORMING PERFORM TO MATURITY
58 1,429,134 0 65.3% 1.73 N/A PERFORMING PERFORM TO MATURITY
59 1,391,983 0 58.0% 1.80 N/A PERFORMING PERFORM TO MATURITY
60 1,376,927 0 65.6% 1.16 N/A PERFORMING PERFORM TO MATURITY
61 1,325,805 0 68.0% 1.35 N/A PERFORMING PERFORM TO MATURITY
62 1,328,770 0 57.8% 2.08 N/A PERFORMING PERFORM TO MATURITY
63 1,269,702 0 42.8% 1.92 N/A PERFORMING PERFORM TO MATURITY
64 1,305,917 0 65.3% 1.88 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 18
<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 1,268,897 0 61.2% 1.26 N/A PERFORMING PERFORM TO MATURITY
66 1,282,081 0 62.5% 1.67 N/A PERFORMING PERFORM TO MATURITY
67 1,258,062 0 57.2% 1.46 N/A PERFORMING PERFORM TO MATURITY
68 1,217,717 0 49.2% 1.47 N/A PERFORMING PERFORM TO MATURITY
69 1,181,956 0 62.2% 1.28 N/A PERFORMING PERFORM TO MATURITY
70 1,135,821 16 59.8% 1.77 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
71 1,124,620 0 63.4% 1.25 N/A PERFORMING PERFORM TO MATURITY
72 1,044,825 0 36.0% 1.50 N/A PERFORMING PERFORM TO MATURITY
73 1,035,780 0 69.7% 1.57 N/A PERFORMING PERFORM TO MATURITY
74 980,089 0 63.6% 1.53 N/A PERFORMING PERFORM TO MATURITY
75 908,806 0 72.1% 1.43 N/A PERFORMING PERFORM TO MATURITY
76 886,787 0 73.9% 1.49 N/A PERFORMING PERFORM TO MATURITY
77 886,342 0 59.1% 1.53 N/A PERFORMING PERFORM TO MATURITY
78 838,470 0 65.8% 1.60 N/A PERFORMING PERFORM TO MATURITY
79 813,223 0 73.9% 2.27 N/A PERFORMING PERFORM TO MATURITY
80 775,703 0 72.5% 1.29 N/A PERFORMING PERFORM TO MATURITY
81 738,092 0 56.8% 1.30 N/A PERFORMING PERFORM TO MATURITY
82 721,551 0 60.1% 1.39 N/A PERFORMING PERFORM TO MATURITY
83 713,073 0 54.9% 1.83 N/A PERFORMING PERFORM TO MATURITY
84 640,181 0 67.7% 1.30 N/A PERFORMING PERFORM TO MATURITY
85 589,396 0 49.9% 1.17 N/A PERFORMING PERFORM TO MATURITY
- -- ----------- --- ------ ---- --- ------------------------- ------------------------------
TOTAL 216,770,053
===========
</TABLE>
Page - 19
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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 8,143,096 12/1/95 1/1/2021 167 8.590% F 66,932
02 8,010,635 12/1/95 1/1/2021 167 8.590% F 65,844
03 7,219,411 10/27/95 11/1/2015 225 8.750% F 65,395
04 6,618,151 10/14/93 11/1/2018 45 8.350% F 55,064
05 6,515,846 11/10/95 12/1/2019 106 8.510% F 48,968
06 6,393,893 10/31/95 11/1/2020 69 8.080% F 50,513
07 5,988,832 9/29/95 10/1/2020 164 9.390% F 52,613
08 5,285,802 12/6/95 1/1/2011 71 8.050% F 52,720
09 5,266,306 11/20/95 12/1/2020 70 7.890% F 40,903
10 4,675,809 11/2/95 12/1/2020 46 7.900% F 36,347
11 4,441,502 12/5/95 1/1/2021 131 8.570% F 36,448
12 4,406,597 9/29/95 10/1/2020 164 9.390% F 38,713
13 4,242,880 10/31/95 11/1/2012 189 8.200% F 40,049
14 4,295,806 10/5/95 11/1/2020 165 9.230% F 37,235
15 3,905,547 11/7/95 12/1/2011 177 8.420% F 34,511
16 3,846,927 11/30/95 12/1/2020 130 8.770% F 32,117
17 3,825,657 8/3/95 9/1/2018 163 9.240% F 34,140
18 3,643,310 11/30/95 12/1/2014 106 8.650% F 34,301
19 3,637,285 10/6/95 11/1/2020 69 8.200% F 29,022
20 3,545,105 9/15/95 10/1/2020 104 8.940% F 30,063
21 3,370,993 10/19/95 11/1/2020 165 8.300% F 27,119
22 3,297,594 11/20/95 12/1/2020 70 7.890% F 25,612
23 3,177,603 8/11/95 9/1/2020 163 9.570% F 28,334
24 3,148,044 8/11/95 9/1/2020 163 9.570% F 28,070
25 2,992,858 8/11/95 9/1/2020 163 9.570% F 26,686
26 2,913,677 5/15/95 6/1/2015 160 9.930% F 28,812
27 2,895,925 9/28/95 10/1/2020 164 8.640% F 23,976
28 2,822,106 5/24/95 12/1/2014 214 9.550% F 27,502
29 2,732,527 11/30/95 12/1/2015 106 8.250% F 23,858
30 2,758,651 9/29/95 10/1/2020 104 9.140% F 23,767
31 2,739,554 8/9/95 9/1/2017 163 9.100% F 24,578
32 2,664,530 11/13/95 12/1/2020 106 8.990% F 22,640
33 2,659,612 9/11/95 10/1/2020 128 9.060% F 22,769
34 2,562,097 8/10/95 9/1/2020 163 9.620% F 22,933
35 2,520,938 12/1/95 11/1/2015 105 8.310% F 22,145
36 2,465,760 11/17/95 12/1/2020 130 8.730% F 20,520
37 2,363,451 8/15/95 9/6/2020 127 9.350% F 20,719
38 2,303,536 11/10/95 12/1/2015 70 8.310% F 20,198
39 2,220,013 11/14/95 12/1/2020 70 8.900% F 18,728
40 2,161,396 10/19/95 11/1/2010 165 9.700% F 23,767
41 2,167,197 9/14/95 10/1/2020 128 9.080% F 18,583
42 2,103,623 9/29/95 10/1/2020 104 9.170% F 18,166
43 2,101,368 7/21/95 8/1/2020 102 9.080% F 18,055
44 1,996,437 10/10/95 11/1/2020 129 9.000% F 16,994
45 1,995,287 8/25/95 9/1/2020 163 9.580% F 17,805
46 1,874,268 11/17/95 12/1/2020 130 8.800% F 15,685
47 1,856,728 12/1/95 12/1/2015 130 8.720% F 16,754
48 1,858,223 11/16/95 12/1/2015 166 9.010% F 17,107
49 1,729,643 10/27/95 11/1/2020 129 8.850% F 14,548
50 1,677,124 11/14/95 12/1/2020 130 8.840% F 14,081
51 1,625,602 10/31/95 11/1/2010 165 8.450% F 16,691
52 1,638,065 9/1/95 9/1/2015 163 9.660% F 15,836
53 0 8/11/95 9/1/2017 163 9.180% F 14,792
54 1,595,115 12/1/95 12/1/2011 178 9.390% F 16,636
55 1,478,244 12/1/95 12/1/2020 166 8.370% F 11,947
56 1,463,130 10/11/95 11/1/2015 165 8.690% F 13,198
57 1,461,027 11/30/95 12/1/2015 130 8.620% F 13,092
58 1,429,134 8/15/95 9/1/2020 163 9.700% F 12,871
59 1,391,983 7/21/95 8/1/2020 102 9.320% F 12,186
60 1,376,927 7/6/95 8/1/2020 103 9.240% F 11,980
61 1,325,805 6/23/95 7/1/2015 161 9.170% F 12,750
62 1,328,770 8/30/95 9/1/2020 127 9.150% F 11,468
63 1,269,702 11/20/95 12/1/2010 166 8.150% F 12,777
64 1,305,917 10/20/95 11/1/2020 165 8.870% F 11,002
</TABLE>
Page - 20
<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 1,268,897 11/10/95 12/1/2015 70 8.310% F 11,126
66 1,282,081 11/15/95 12/1/2020 130 8.690% F 10,635
67 1,258,062 11/2/95 12/1/2020 130 8.920% F 10,630
68 1,217,717 8/10/95 9/1/2015 127 9.380% F 11,554
69 1,181,956 10/24/95 11/1/2020 165 8.600% F 9,744
70 1,135,821 11/30/95 12/1/2020 106 8.900% F 9,572
71 1,124,620 8/9/95 9/1/2015 163 10.060% F 11,163
72 1,044,825 6/30/95 7/1/2010 161 9.830% F 11,707
73 1,035,780 11/20/95 12/1/2020 130 8.800% F 8,668
74 980,089 6/30/95 7/1/2020 101 8.410% F 7,992
75 908,806 7/12/95 8/1/2020 126 8.860% F 7,674
76 886,787 10/20/95 11/1/2020 129 8.750% F 7,399
77 886,342 9/29/95 10/1/2020 128 8.970% F 7,534
78 838,470 11/30/95 12/1/2020 166 8.790% F 7,011
79 813,223 11/21/95 12/1/2020 166 8.470% F 6,626
80 775,703 7/20/95 8/1/2020 162 9.360% F 6,825
81 738,092 8/30/95 9/1/2020 127 9.090% F 6,340
82 721,551 8/28/95 9/1/2015 127 9.670% F 6,980
83 713,073 7/20/95 8/1/2020 78 9.250% F 6,209
84 640,181 8/1/95 9/1/2020 103 9.400% F 5,634
85 589,396 7/19/95 8/1/2020 126 8.800% F 4,953
- -- ----------- ---------- ---------- ---- -------- --- -------
TOTAL 216,770,053
===========
</TABLE>
Page - 21
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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 - 22
<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 - 23
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: PSSFC SERIES 1995 MCF2
REPORTING PERIOD: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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 1,003,875 1/1/96 9/30/96 BORROWER 100.0% 10/1/95
02 1 1,089,693 12/1/95 PROSPECTUS 968,363 1/1/96 9/30/96 BORROWER 100.0% 11/15/95
03 1 738,967 12/31/95 PROPERTY MANAGER 783,950 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
04 1 860,906 12/31/95 BORROWER 556,772 1/1/96 9/30/96 BORROWER 97.5% 9/30/96
04 3 542,913 12/31/95 BORROWER 386,899 1/1/96 9/30/96 BORROWER 99.0% 9/30/96
05 1 873,821 12/1/95 PROSPECTUS 399,275 1/1/96 6/30/96 BORROWER 85.9% 9/30/96
06 1 917,238 12/31/94 BORROWER 360,300 1/1/96 9/30/96 BORROWER 99.1% 9/30/96
07 1 862,693 12/1/95 PROSPECTUS 796,725 2/4/96 9/30/96 BORROWER 100.0% 9/30/95
08 1 773,983 12/1/95 PROSPECTUS 605,928 1/1/96 9/30/96 BORROWER 100.0% 10/15/96
09 1 737,155 12/31/95 MANAGEMENT COMPANY 486,742 1/1/96 9/30/96 BORROWER 96.0% 10/11/96
10 1 585,282 12/31/95 BORROWER 272,058 1/1/96 6/30/96 BORROWER 94.2% 9/25/96
11 1 521,168 12/31/95 BORROWER 538,037 1/1/96 10/31/96 BORROWER 99.1% 10/15/96
12 1 653,903 12/1/95 PROSPECTUS 1,049,600 2/4/96 9/30/96 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 619,964 2/4/96 9/30/96 BORROWER 100.0% 7/15/95
15 1 574,131 12/31/95 BORROWER 387,809 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
16 1 527,119 12/31/95 BORROWER 479,136 1/1/96 9/30/96 BORROWER 100.0% 10/31/96
17 1 688,100 12/31/95 BORROWER 531,479 1/1/96 9/30/96 BORROWER 98.6% 9/30/96
18 1 645,624 12/31/95 BORROWER 232,086 1/1/96 6/30/96 BORROWER 99.6% 9/1/96
19 1 287,818 12/31/94 BORROWER 306,311 1/1/96 9/30/96 BORROWER 99.0% 9/30/96
20 1 561,341 12/31/95 BORROWER 493,196 1/1/96 9/30/96 BORROWER 100.0% 6/30/96
21 1 499,230 12/31/95 BORROWER 376,208 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
22 1 470,733 12/31/95 MANAGEMENT COMPANY 386,207 1/1/96 9/30/96 BORROWER 97.0% 10/11/96
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 1 601,383 12/31/95 BORROWER 648,320 1/1/96 10/31/96 BORROWER 69.1% 9/30/96
27 1 442,621 12/31/95 BORROWER 326,599 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
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 276,924 1/1/96 9/30/96 BORROWER 99.2% 10/1/95
30 1 149,478 11/30/95 BORROWER 97,671 12/1/95 8/31/96 BORROWER 95.3% 7/24/96
30 2 152,377 11/30/95 BORROWER 112,864 12/1/95 8/31/96 BORROWER 97.4% 7/24/96
30 3 143,720 11/30/95 BORROWER 71,751 12/1/95 8/31/96 BORROWER 97.4% 7/24/96
31 1 379,250 12/31/95 BORROWER 379,250 1/1/95 12/31/95 BORROWER 93.0% 5/31/96
32 1 187,456 12/31/95 BORROWER 185,378 5/1/96 10/31/96 BORROWER 93.0% 1/17/97
33 1 362,287 12/31/95 BORROWER 302,202 1/1/96 9/30/96 BORROWER 95.2% 9/30/96
34 1 490,324 12/31/95 BORROWER 344,728 1/1/96 9/30/96 BORROWER 100.0% 10/1/96
35 1 186,486 12/1/95 PROSPECTUS 485,411 1/30/96 8/11/96 BORROWER 100.0% 1/3/96
35 2 168,301 12/1/95 PROSPECTUS 321,601 1/30/96 8/11/96 BORROWER 100.0% 1/3/96
36 1 350,493 12/31/95 BORROWER 306,122 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
37 1 352,288 12/31/95 BORROWER TAX RETUR 349,898 1/1/96 9/30/96 BORROWER 100.0% 9/1/96
38 1 273,055 12/31/94 BORROWER 198,140 1/1/96 6/30/96 BORROWER 72.9% 6/30/96
39 1 301,186 12/31/95 MANAGEMENT COMPANY 210,842 1/1/96 9/30/96 BORROWER 91.7% 9/30/96
40 1 473,271 12/31/95 BORROWER 443,891 1/1/96 9/30/96 BORROWER 100.0% 11/21/95
41 1 341,424 10/31/94 BORROWER 277,413 1/1/96 9/30/96 BORROWER 95.9% 10/1/96
42 1 332,195 9/30/96 BORROWER 332,195 10/1/95 9/30/96 BORROWER 100.0% 9/15/95
43 1 227,216 12/31/95 BORROWER 186,064 1/1/96 9/30/96 BORROWER 77.6% 10/2/96
44 1 351,532 N/A UNDERWRITER 315,420 1/1/96 9/30/96 BORROWER 95.8% 9/30/96
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 158,661 1/1/96 9/30/96 BORROWER 97.0% 10/15/96
47 1 354,103 12/31/95 BORROWER 62,574 7/1/96 9/30/96 BORROWER 100.0% 3/29/96
48 1 321,015 12/31/95 BORROWER 202,827 1/1/96 9/30/96 BORROWER 84.7% 9/30/96
49 1 289,348 12/31/95 BORROWER TAX RETUR 201,763 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
50 1 282,317 12/31/95 BORROWER 243,595 1/1/96 10/31/96 BORROWER 100.0% 10/15/96
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 221,442 1/1/96 9/30/96 BORROWER 100.0% 10/15/96
53 1 369,919 12/31/94 BORROWER 300,136 1/1/95 9/30/95 BORROWER 100.0% 7/14/95
54 1 266,665 12/31/95 BORROWER 215,522 1/1/96 9/30/96 BORROWER 100.0% 12/17/96
55 1 161,640 12/31/95 BORROWER 124,267 1/1/96 9/30/96 BORROWER 91.4% 11/27/96
56 1 223,215 12/31/94 BORROWER 126,006 1/1/96 9/30/96 BORROWER 63.3% 9/30/96
57 1 11,313 12/31/95 BORROWER 1,202 1/1/96 3/31/96 BORROWER 66.6% 3/22/96
57 2 55,481 12/31/95 BORROWER 15,249 1/1/96 3/31/96 BORROWER 93.7% 3/22/96
57 3 59,912 12/31/95 BORROWER 18,286 1/1/96 3/31/96 BORROWER 100.0% 10/18/96
57 4 45,879 12/31/95 BORROWER 21,884 1/1/96 3/31/96 BORROWER 97.0% 5/31/96
</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>
58 1 267,967 12/31/95 BORROWER 238,051 1/1/96 9/30/96 BORROWER 98.0% 9/30/96
59 1 263,898 12/31/95 BORROWER 206,043 1/1/96 9/30/96 BORROWER 98.8% 9/20/96
60 1 167,513 12/31/95 BORROWER 100,195 1/1/96 9/30/96 MANAGEMENT COMPANY 97.8% 10/1/96
61 1 206,712 N/A UNDERWRITER 180,821 1/1/96 9/30/96 BORROWER 100.0% 3/6/96
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 246,358 1/1/96 9/30/96 BORROWER 99.0% 6/30/96
64 1 249,468 12/31/95 BORROWER 214,781 1/1/96 9/30/96 BORROWER 94.5% 10/15/96
65 1 168,797 12/31/94 BORROWER 110,015 1/1/96 6/30/96 BORROWER 99.1% 6/30/96
66 1 213,833 12/31/95 MANAGEMENT COMPANY 164,972 1/1/96 9/30/96 BORROWER 84.3% 9/30/96
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 204,663 1/1/96 9/30/96 BORROWER 100.0% 6/30/96
69 1 150,415 12/31/94 BORROWER 127,979 1/1/96 9/30/96 BORROWER 97.5% 9/30/96
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 115,810 1/1/96 10/31/96 BORROWER 69.1% 10/31/96
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 151,371 1/1/96 9/30/96 BORROWER 93.8% 10/16/96
75 1 132,000 12/31/95 BORROWER 116,000 1/1/96 10/31/96 BORROWER 100.0% 10/31/96
76 1 132,384 12/31/95 BORROWER 108,316 1/1/96 9/30/96 BORROWER 98.7% 10/1/96
77 1 138,683 12/31/95 BORROWER 122,645 1/1/96 9/30/96 BORROWER 93.1% 9/30/96
78 1 134,916 12/31/95 BORROWER 77,676 1/1/96 6/30/96 BORROWER 100.0% 6/30/96
79 1 180,809 12/31/95 BORROWER 103,782 1/1/96 9/30/96 BORROWER 98.8% 9/30/96
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 93,862 1/1/96 9/30/96 BORROWER 95.0% 7/29/96
82 1 116,739 12/31/95 BORROWER 92,667 1/1/96 9/30/96 MANAGEMENT COMPANY 83.5% 10/1/96
83 1 92,465 12/31/95 BORROWER 61,010 1/1/96 9/30/96 BORROWER 93.8% 9/30/96
83 2 43,894 12/31/95 BORROWER 45,688 1/1/96 9/30/96 BORROWER 94.4% 9/30/96
84 1 88,265 12/31/95 BORROWER 73,025 1/1/96 9/30/96 BORROWER 88.5% 9/30/96
85 1 69,614 12/31/95 N/A 91,923 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
</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: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
LOAN 01 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE BASED
ON LEASE PAYMENT AT $1,338,500/YEAR WITH ALL EXPENSES PAID BY THE SINGLE
TENANT. DATA ALSO RECEIVED INDICATES THAT FOR QUARTER ENDED 8/3/96 TENANT
SALES/SF OF SELLING SPACE WERE $225.26, WHILE SALES/SF OF TOTAL SPACE WERE
$176.94.
LOAN 02 - 1: Partial Year Statement Comment: 9/30/96 - STATEMENT IS
BASED ON REVENUE FROM LONG TERM LEASE WITH ALL EXPENSES PASSED THROUGH TO
SINGLE TENANT. DATA ALSO RECEIVED WHICH INDICATES TENANT'S QUARTER ENDED
8/3/96 SALES/SF OF SELLING SPACE WERE $160.60, WHILE SALES/SF OF TOTAL SPACE
WERE $103.52.
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: Status Comment: 1996 YTD revenues 22% over baseline;
expenses 46% over baseline. Borrower indicates previous owner had
over-staffed facility. Under new ownership, staffing has been reduced from
100 to 87. Partial Year Statement Comment: 9/30/96 - BORR REP INDICATES
PREVIOUS OWNER HAD OVERSTAFFED FACILITY. THEY HAVE CUT STAFF FROM OVER 100
TO 87. ANCILLARY THERAPIES ARE NOT REIMB AND REV IS NOT RECOGNIZED UNTIL
COST RPT IS FILED. FIRST COST RPT WILL BE COMPLETED SHORTLY.
LOAN 07 - 1: Latest Annual Statement Comment: 12/1/95 - ANALYSIS IS
BASED ON MARKET RATES FOR A TRIPLE NET LEASE.
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. Partial Year
Statement Comment: 9/30/96 - PROPERTY IS OCCUPIED BY A SINGLE TENANT WITH
AN ABSOLUTE NET LEASE. TENANT IS RESPONSIBLE FOR ALL OPERATING EXPENSES.
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. Partial Year Statement Comment: 10/31/96 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE PROPERTY TAX EXPENSE.
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: 9/30/96 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S RETAIL
BUSINESS. SUBJECT IS OCCUPIED BY A SINGLE TENANT.
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: 9/30/96 - STATEMENT REFLECTS OPERATIONS OF OWNER/OCCUPANT'S RETAIL
BUSINESS. THIS IS A SINGLE TENANT PROPERTY.
LOAN 15 - 1: Partial Year Statement Comment: 9/30/96 - SUBJECT IS A
SINGLE TENANT PROPERTY.
Page - 26
<PAGE>
LOAN 16 - 1:
LOAN 17 - 1: Partial Year Statement Comment: 9/30/96 - 1996 TAXES ARE
110% ABOVE BASE LINE, THIS IS ANNUALIZED PER SERVICING INFORMATION.
LOAN 18 - 1: Partial Year Statement Comment: 6/30/96 - BORROWER
REPRESENTATIVE INDICATES R&M EXPENSE INCLUDES $40,414 FOR REPAVING AND
RESTRIPING THE PARKING LOT WHICH THEY DO NOT CONSIDER TO BE A TYPICAL ANNUAL
LEVEL OF EXPENSE.
LOAN 19 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS 8%
BELOW BASELINE EXPECTATIONS. OPERATING EXPENSE IS 2% BELOW BASELINE
EXPECTATIONS. THIS CAUSES A 24% REDUCTION IN NOI FROM BASELINE PROJECTIONS.
LOAN 20 - 1:
LOAN 21 - 1:
LOAN 22 - 1:
LOAN 23 - 1: Latest Annual Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF GROCERY STORE WHICH OPERATES IN PROPERTY.
LOAN 24 - 1: Status Comment: Statement reflects operations of Kash N'
Karry grocery store which operates in property. Grocery store opened in
1994. Customer traffic counts have not yet reached levels of similar stores
on related loans. Latest Annual Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF THE CORPORATION WHICH OWNS THE PROPERTY. NO
INDIVIDUAL STORE OPERATING STATEMENTS ARE SUPPLIED.
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:
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.
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.
LOAN 30 - 3: Latest Annual Statement Comment: 11/30/95 - FISCAL PERIOD
12/01/94 TO 11/30/95.
LOAN 31 - 1: Status Comment: Assumption closed. Loan returned for
Master Servicing in January, 1997.
LOAN 32 - 1: Latest Annual Statement Comment: 12/31/95 - REVENUE IS
DOWN 8% FROM BASE LINE WHILE REPAIRS AND MAINTENANCE HAVE INCREASED 83% OVER
BASE LINE. Partial Year Statement Comment: 10/31/96 - ASSUMPTION
OCCURED IN APRIL OF 1996. BORROWER HAS ONLY PROVIDED FINANCIAL INFORMATION
SINCE THE ASSUMPTION. MANAGEMENT FEES ARE NORMALIZED AS PER 1995.
LOAN 33 - 1:
LOAN 34 - 1:
LOAN 35 - 1: Partial Year Statement Comment: 8/11/96 - SUBJECT
CONSISTS OF TWO PROPERTIES. STATEMENT REFLECTS OPERATIONS OF
OWNER-OCCUPANT'S RETAIL BUSINESS.
LOAN 35 - 2: Partial Year Statement Comment: 8/11/96 - SUBJECT
CONSISTS OF TWO PROPERTIES. STATEMENT REFLECTS OPERATIONS OF
OWNER-OCCUPANT'S RETAIL BUSINESS.
Page - 27
<PAGE>
LOAN 36 - 1:
LOAN 37 - 1:
LOAN 38 - 1:
LOAN 39 - 1:
LOAN 40 - 1: Partial Year Statement Comment: 9/30/96 - BORROWER LETTER
INDICATES THAT PROPERTY INCURS NO EXPENSES OTHER THAN ESCROWED EXPENSES.
LETTER STATES LEASE RATE PER MONTH. STATEMENT ENTRY IS BASED ON LEASE RATE
AND SERVICING INFORMATION REGARDING TAX AND INSURANCE ESCROWS.
LOAN 41 - 1: Latest Annual Statement Comment: 10/31/94 - FISCAL YEAR -
NOVEMBER THRU OCTOBER. Partial Year Statement Comment: 9/30/96 - FISCAL
YEAR - NOVEMBER THRU OCTOBER.
LOAN 42 - 1: Latest Annual Statement Comment: 9/30/96 - FISCAL YEAR END
9/30/96.
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: 9/30/96 - NEW
TENANT WITH ANNUAL BASE RENT OF $24,108 BEGAN PAYING RENT 9/96. RENEWALS
HAVE BEEN RECEIVED FROM MOST TENANTS WHOSE LEASES EXPIRED IN 1996. BORROWER
HAS BEEN CONTACTED FOR UPDATED INFORMATION ON CURRENT LEASING STATUS.
LOAN 44 - 1: Partial Year Statement Comment: 9/30/96 - YEAR TO DATE
REVENUE IS 19% ABOVE BASELINE LEVEL, BUT CORRESPONDS WITH BASE SCHEDULED
RENT FROM TENANTS IN PLACE AS REPORTED ON THE RENT ROLL.
LOAN 45 - 1:
LOAN 46 - 1: Status Comment: Two properties in Avon, Indiana secure
this loan. Combined 1996 YTD revenues 14% below baseline; expenses 17% over
baseline. Borrower in process of moving tenants and refurbishing space.
One tenant will occupy 57% of second bldg. under 10 yr. lease. Latest
Annual Statement Comment: 12/31/95 - CAPITAL EXPENSES ARE COMPRISED OF
FINANCING COSTS. Partial Year Statement Comment: 9/30/96 - CONVERSATION
WITH BORR REPRESENTATIVE REVEALED THAT THEY ARE IN THE PROCESS OF MOVING
TENANTS AND REFURBISHING SPACE. EVENTUALLY ONE TENANT WILL OCCUPY 57% OF
THE SECOND BUILDING ON A TEN YEAR LEASE. CHANGES WILL BE PHASED IN OVER THE
NEXT THREE YEARS.
LOAN 47 - 1: Status Comment: Eight properties in Albuquerque, NM secure
this loan. Combined 1996 YTD revenues 63% below baseline; expenses 45%
over baseline.
LOAN 48 - 1: Partial Year Statement Comment: 9/30/96 - YTD OPERATING
STATEMENT INCLUDES 100% AND 58.8% OF ESTIMATED YEARLY PROPERTY TAXES AND
INSURANCE RESPECTIVELY.
LOAN 49 - 1:
LOAN 50 - 1: Latest Annual Statement Comment: 12/31/95 - CAPITAL
EXPENSES INCLUDE LOAN FEES. Partial Year Statement Comment: 10/31/96 -
YEAR TO DATE EXPENSE INCLUDES LESS THAN TEN PERCENT OF ESTIMATED ANNUAL
PROPERTY TAX EXPENSE BASED ON SERVICING INFORMATION.
LOAN 51 - 1:
LOAN 52 - 1:
LOAN 53 - 1:
LOAN 54 - 1:
Page - 28
<PAGE>
LOAN 55 - 1: Status Comment: 1996 YTD revenues 15% below baseline;
expenses 6% over baseline. Ongoing renovation during 1996 resulted in
capital expenses of $200,393 through period ending 9-30-96. 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. Partial Year Statement Comment: 9/30/96 - ONGOING RENOVATION
DURING 1996 RESULTED IN YEAR TO DATE CAPITAL EXPENSES OF $200,393. CAPITAL
EXPENSES WERE MOVED FROM REPAIRS AND MAINTENANCE TO CAPITAL EXPENSE BASED ON
A SCHEDULE OF IMPROVEMENTS RECEIVED FROM BORROWER REPRESENTATIVE.
LOAN 56 - 1: Status Comment: 1996 YTD revenues 20% over baseline;
expenses 30% over baseline. Borrower representative indicates recent
staffing reductions due to shift in emphasis from skilled nursing to other
markets. Partial Year Statement Comment: 9/30/96 - BORR REP INDICATES
THAT THEY HAVE CUT STAFF RECENTLY. SKILLED NURSING CENSUS IS LOW. THEY WILL
PROBABLY BEGIN FOCUSING ON THE ALZHEIMER MKT. THERAPY EXP IS NOT REIMBURSED
UNTIL COST RPT IS FILED. FIRST COST RPT SHOULD BE COMPLETED SHORTLY.
LOAN 57 - 1: 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 THE END OF SUMMER.
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. Partial Year
Statement Comment: 9/30/96 - YTD REV IS LOWER THAN SCHED REV ON RENT ROLL
BECAUSE OF HIGHER VACANCIES EARLIER IN YR AND $12,148 IN 95 RENTS WHICH WERE
WRITTEN OFF AT BEG OF 96. R&M EXP IS 146% GREATER THAN BASELINE AND 62%
GREATER THAN 95. BORR REP STATES CURRENT LEVEL IS TYPICAL.
LOAN 61 - 1: Latest Annual Statement Comment: 12/31/94 - ALL OPERATING
AND FIXED EXPENSES PAID BY TENANT. Partial Year Statement Comment:
9/30/96 - PROPERTY IS OCCUPIED BY A SINGLE TENANT WHICH PAYS ALL OPERATING
AND FIXED EXPENSES.
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.
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: 9/30/96 - YEAR TO DATE OPERATING STATEMENT DID NOT
INCLUDE 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.
Page - 29
<PAGE>
LOAN 69 - 1:
LOAN 70 - 1: Status Comment: This loan is consistently delinquent and
late charges are accumulating.
LOAN 71 - 1: Status Comment: 1996 YTD revenues 15% below baseline;
expenses 2% over baseline. Partial Year Statement Comment: 10/31/96 -
PROPERTY CONTINUES TO EXPERIENCE AN 11% DECREASE IN OCCUPANCY, CAUSING TOTAL
REVENUE TO DECREASE 12% 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: Partial Year Statement Comment: 10/31/96 - PER BORROWER
LETTER, PROPERTY IS LEASED BY A SINGLE TENANT ON A TRIPLE NET LEASE. MONTHLY
RENT FOR 1996 IS $11,600.
LOAN 76 - 1:
LOAN 77 - 1: Partial Year Statement Comment: 9/30/96 - 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. Partial Year Statement Comment: 9/30/96 - YEAR
TO DATE STATEMENT INCLUDES 100% OF ESTIMATED ANNUAL PROPERTY TAX EXPENSE BASED
ON SERVICING SYSTEM 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: 9/30/96 - YEAR TO DATE
STATEMENT DOES NOT INCLUDE ANY PROPERTY TAX OR INSURANCE EXPENSE.
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