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Previous: PRENTISS PROPERTIES TRUST/MD, 10-Q, 1996-11-27 |
Next: ASSET SECUR COR COMM MORT PASS TH CERT SER 1996 D2, 8-K, 1996-11-27 |
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: November 14, 1996
(Date of earliest event reported)
Nomura Asset Securities Corporation
- ------------------------------------------------------------------------
(Exact Name of registrant as specified in its charter)
Delaware 33-48481 13-3672336
- ---------- ---------------- -------------------
(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification Number)
Two World Financial Center, Building B, New York, New York 10281
- ----------------------------------------------------------------------------
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: 212-667-9300
---------------------
- -----------------------------------------------------------------------------
This Document contains exactly 05 Pages.
The Exhibit Index is on Page 05 .
<PAGE>
ITEM 5. OTHER EVENTS
This Current Report on Form 8-K relates to the Trust Fund
formed, and the Commercial Mortgage Pass-Through Certificates Series 1996-MDV
issued pursuant to a Pooling and Servicing Agreement, dated as of April 1,
1996 (the "Pooling and Servicing Agreement"), by and among Nomura Asset
Securities Corporation (the "Company"), as depositor, AMRESCO Management, Inc.,
as servicer, LaSalle National Bank, as trustee, and ABN AMRO Bank, N.V., as
fiscal agent. The Certificates have been registered pursuant to the Act under
a Registration Statement on Form S-3 (No.33-48481) (the "Registration
Statement").
Capitalized terms used herein and not defined herein have the
same meanings ascribed to such terms in the Pooling and Servicing Agreement.
Pursuant to Section 3.22 of the Pooling and Servicing Agreement,
Servicer is filing this Current Report containing the November 14, 1996 monthly
distribution report prepared by the Trustee pursuant to Section 4.02(a) thereof
and 2nd quarter 1996 Quarterly Collateral Summary.
Servicer has received and will file separately, based on an
EDGAR hardship exemption, the monthly financial information required pursuant
to the documents for the Crescent Real Estate Funding loan; Royal Palace Hotel
Associates loan; Shaner Hotel Group Properties loans; First Industrial Mortgage
loan; First Horizon Group, L.P. loan; TUP 130 Company, L.P. loan; Marriot
Residence Inn II, L.P. loan; GB Mall, L.P. loan; Bay Plaza Community Center,
L.L.C. loan; and Innkeepers Financing loan.
This Current Report is being filed by the Servicer, in its
capacity as such under the Pooling and Servicing Agreement, on behalf of the
Registrant. The information reported and contained herein has been supplied to
the Servicer by one or more of the Borrowers or other third parties without
independent review or investigation by the Servicer. Pursuant to the Pooling
and Servicing Agreement, the Servicer is not responsible for the accuracy or
completeness of such information.
<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
5.1 99 Monthly distribution report
pursuant to Section 4.2 of the
Pooling and Servicing Agreement
for the distribution on November
14, 1996.
5.2 99 Quarterly Collateral Summary for
the 2nd quarter 1996.
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.
AMRESCO MANAGEMENT, INC., IN
ITS CAPACITY AS SERVICER
UNDER THE POOLING AND
SERVICING AGREEMENT ON
BEHALF OF NOMURA ASSET
SECURITIES CORPORATION,
REGISTRANT
By: /s/ Daniel B. Kirby
Daniel B. Kirby,
Senior Vice President
By: /s/ William J. Sweeney, Jr.
William J. Sweeney, Jr.,
Vice President
Date: November 22, 1996
<PAGE>
EXHIBIT INDEX
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
5.1 99 Monthly distribution report
pursuant to Section 4.2 of the
Pooling and Servicing Agreement
for the distribution on November
14, 1996.
5.2 99 Quarterly Collateral Summary for
the 2nd quarter 1996.
Exhibit 5.1
ABN AMRO
LaSalle National Bank
Administrator:
Mary Collier (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
^Nomura Asset Securities Corporation
^Amresco Management, Inc. as Servicer
^Commercial Mortgage Pass-Through Certificates
^Series 1996-MD V
^ABN AMRO Acct: 67-7504-32-6
Statement Date: 11/14/96
Payment Date: 11/14/96
Prior Payment: NA
Record Date: 11/08/96
WAC: 8.690689%
WAMM: 276
^Upper Tier
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1000 Per $1000 Per $1000
A-1A 150,000,000.00 147,167,990.64 382,576.97
655356HM8 1000.000000 981.119938 2.550513
A-1B 352,001,941.00 352,001,941.00 0.00
6555356HN6 1000.000000 1000.000000 0.000000
A-1C 7,492,566.00 7,492,566.00 0.00
655356HP1 1000.000000 1000.000000 0.000000
CS-1 150,000,000.00 N 147,167,990.64 0.00
655356JD6 1000.000000 981.119938 0.000000
CS-2 516,838,397.00 N 516,838,397.00 0.00
655356HU0,U65537BZ 1000.000000 1000.000000 0.000000
A-2 44,955,397.00 44,955,397.00 0.00
655356HQ9 1000.000000 1000.000000 0.000000
A-3 52,447,964.00 52,447,964.00 0.00
655356HR7 1000.000000 1000.000000 0.000000
A-4 48,701,680.00 48,701,680.00 0.00
655356HS5 1000.000000 1000.000000 0.000000
A-5 11,238,849.00 11,238,849.00 0.00
655356HT3 1000.000000 1000.000000 0.000000
S-1 24,435,948.00 24,435,948.00 0.00
655356HV8,U65537CA 1000.000000 1000.000000 0.000000
B-1 48,701,680.00 48,701,680.00 0.00
655356HW6,U65537CB 1000.000000 1000.000000 0.000000
B-2 33,715,552.00 33,715,552.00 0.00
655356HX4,U65537CC 1000.000000 1000.000000 0.000000
B-2H 1,000.66 1,000.66 0.00
655356HY2 1000.000000 1000.000000 0.000000
R 0.00 0.00 0.00
655356JB0 1000.000000 0.000000 0.000000
773,692,577.66 770,860,568.30 382,576.97
Principal Negative Closing Interest
Class Adj. or Loss Amortization Balance Payment
CUSIP Per $1000 Per $1000 Per $1000 Per $1000
A-1A 0.00 0.00 146,785,413.67 867,064.75
655356HM8 0.000000 0.000000 978.569424 5.780432
A-1B 0.00 0.00 352,001,941.00 2,088,544.85
6555356HN6 0.000000 0.000000 1000.000000 5.933333
A-1C 0.00 0.00 7,492,566.00 44,455.89
655356HP1 0.000000 0.000000 1000.000000 5.933333
CS-1 0.00 0.00 146,785,413.67 191,088.10
655356JD6 0.000000 0.000000 978.569424 1.273921
CS-2 0.00 0.00 516,838,397.00 538,340.52
655356HU0,U65537BZ 0.000000 0.000000 1000.000000 1.041603
A-2 0.00 0.00 44,955,397.00 288,768.08
655356HQ9 0.000000 0.000000 1000.000000 6.423435
A-3 0.00 0.00 52,447,964.00 346,074.49
655356HR7 0.000000 0.000000 1000.000000 6.598435
A-4 0.00 0.00 48,701,680.00 331,095.21
655356HS5 0.000000 0.000000 1000.000000 6.798435
A-5 0.00 0.00 11,238,849.00 78,841.67
655356HT3 0.000000 0.000000 1000.000000 7.015102
S-1 0.00 0.00 24,435,948.00 165,792.81
655356HV8,U65537CA 0.000000 0.000000 1000.000000 6.784792
B-1 0.00 0.00 48,701,680.00 350,170.04
655356HW6,U65537CB 0.000000 0.000000 1000.000000 7.190102
B-2 0.00 0.00 33,715,552.00 242,418.25
655356HX4,U65537CC 0.000000 0.000000 1000.000000 7.190102
B-2H 0.00 0.00 1,000.66 7.19
655356HY2 0.000000 0.000000 1000.000000 7.190102
R 0.00 0.00 0.00 0.00
655356JB0 0.000000 0.000000 0.000000 0.000000
0.00 0.00 770,477,991.33 5,532,661.86
Total P&I Payment 5,915,238.83
Interest Pass-Through
Class Adjustment Rate (2)
CUSIP Per $1000 Next Rate (3)
A-1A 0.00 7.070000%
655356HM8 0.000000 7.070000%
A-1B 0.00 7.120000%
6555356HN6 0.000000 7.120000%
A-1C 0.00 7.120000%
655356HP1 0.000000 7.120000%
CS-1 0.00 1.558122%
655356JD6 0.000000 1.277324%
CS-2 0.00 1.249924%
655356HU0,U65537BZ 0.000000 0.000000%
A-2 0.00 7.708122%
655356HQ9 0.000000 7.427324%
A-3 0.00 7.918122%
655356HR7 0.000000 7.637324%
A-4 0.00 8.158122%
655356HS5 0.000000 7.877324%
A-5 0.00 8.418122%
655356HT3 0.000000 8.137324%
S-1 0.00 8.141750%
655356HV8,U65537CA 0.000000 7.876250%
B-1 0.00 8.628122%
655356HW6,U65537CB 0.000000 8.347324%
B-2 0.00 8.628122%
655356HX4,U65537CC 0.000000 8.347324%
B-2H 0.00 8.628122%
655356HY2 0.000000 8.347324%
R 0.00 None
655356JB0 0.000000 0.000000%
0.00 0.000000%
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual (3) Estimated
^Lower Tier
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1000 Per $1000 Per $1000
A-1A 150,000,000.00 147,167,990.64 382,576.97
655356HM8 1000.000000 981.119938 2.550513
A-1B 352,001,941.00 352,001,941.00 0.00
6555356HN6 1000.000000 1000.000000 0.000000
A-1C 7,492,566.00 7,492,566.00 0.00
655356HP1 1000.000000 1000.000000 0.000000
CS-1 150,000,000.00 N 147,167,990.64 0.00
655356JD6 1000.000000 981.119938 0.000000
CS-2 516,838,397.00 N 516,838,397.00 0.00
655356HU0,U65537BZ 1000.000000 1000.000000 0.000000
A-2 44,955,397.00 44,955,397.00 0.00
655356HQ9 1000.000000 1000.000000 0.000000
A-3 52,447,964.00 52,447,964.00 0.00
655356HR7 1000.000000 1000.000000 0.000000
A-4 48,701,680.00 48,701,680.00 0.00
655356HS5 1000.000000 1000.000000 0.000000
A-5 11,238,849.00 11,238,849.00 0.00
655356HT3 1000.000000 1000.000000 0.000000
S-1 24,435,948.00 24,435,948.00 0.00
655356HV8,U65537CA 1000.000000 1000.000000 0.000000
B-1 48,701,680.00 48,701,680.00 0.00
655356HW6,U65537CB 1000.000000 1000.000000 0.000000
B-2 33,715,552.00 33,715,552.00 0.00
655356HX4,U65537CC 1000.000000 1000.000000 0.000000
B-2H 1,000.66 1,000.66 0.00
655356HY2 1000.000000 1000.000000 0.000000
R 0.00 0.00 0.00
655356JB0 1000.000000 0.000000 0.000000
773,692,575.66 770,860,568.30 382,576.97
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1000 Per $1000 Per $1000
A-1A 0.00 0.00 146,785,413.67
655356HM8 0.000000 0.000000 978.569424
A-1B 0.00 0.00 352,001,941.00
6555356HN6 0.000000 0.000000 1000.000000
A-1C 0.00 0.00 7,492,566.00
655356HP1 0.000000 0.000000 1000.000000
CS-1 0.00 0.00 146,785,413.67
655356JD6 0.000000 0.000000 978.569424
CS-2 0.00 0.00 516,838,397.00
655356HU0,U65537BZ 0.000000 0.000000 1000.000000
A-2 0.00 0.00 44,955,397.00
655356HQ9 0.000000 0.000000 1000.000000
A-3 0.00 0.00 52,447,964.00
655356HR7 0.000000 0.000000 1000.000000
A-4 0.00 0.00 48,701,680.00
655356HS5 0.000000 0.000000 1000.000000
A-5 0.00 0.00 11,238,849.00
655356HT3 0.000000 0.000000 1000.000000
S-1 0.00 0.00 24,435,948.00
655356HV8,U65537CA 0.000000 0.000000 1000.000000
B-1 0.00 0.00 48,701,680.00
655356HW6,U65537CB 0.000000 0.000000 1000.000000
B-2 0.00 0.00 33,715,552.00
655356HX4,U65537CC 0.000000 0.000000 1000.000000
B-2H 0.00 0.00 1,000.66
655356HY2 0.000000 0.000000 1000.000000
R 0.00 0.00 0.00
655356JB0 0.000000 0.000000 0.000000
0.00 0.00 770,477,991.33
Total P&I Payment 5,915,238.83
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1000 Per $1000 Next Rate (3)
A-1A 867,064.75 0.00 7.070000%
655356HM8 5.780432 0.000000 7.070000%
A-1B 2,088,544.85 0.00 7.120000%
6555356HN6 5.933333 0.000000 7.120000%
A-1C 44,455.89 0.00 7.120000%
655356HP1 5.933333 0.000000 7.120000%
CS-1 191,088.10 0.00 1.558122%
655356JD6 1.273921 0.000000 1.277324%
CS-2 538,340.52 0.00 1.249924%
655356HU0,U65537BZ 1.041603 0.000000 0.000000%
A-2 288,768.08 0.00 7.708122%
655356HQ9 6.423435 0.000000 7.427324%
A-3 346,074.49 0.00 7.918122%
655356HR7 6.598435 0.000000 7.637324%
A-4 331,095.21 0.00 8.158122%
655356HS5 6.798435 0.000000 7.877324%
A-5 78,841.67 0.00 8.418122%
655356HT3 7.015102 0.000000 8.137324%
S-1 165,792.81 0.00 8.141750%
655356HV8,U65537CA 6.784792 0.000000 7.876250%
B-1 350,170.04 0.00 8.628122%
655356HW6,U65537CB 7.190102 0.000000 8.347324%
B-2 242,418.25 0.00 8.628122%
655356HX4,U65537CC 7.190102 0.000000 8.347324%
B-2H 7.19 0.00 8.628122%
655356HY2 7.190102 0.000000 8.347324%
R 0.00 0.00 None
655356JB0 0.000000 0.000000 0.000000%
5,532,661.86 0.00 0.000000%
^Grantor Trust Certificates
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1000 Per $1000 Per $1000
V-1 0.00 0.00 0.00
655356HZ9 1000.000000 0.000000 0.000000
V-2 0.00 0.00 0.00
655356JA2 1000.000000 0.000000 0.000000
0.00 0.00 0.00
Principal Negative Closing Interest
Class Adj. or Loss Amortization Balance Payment
CUSIP Per $1000 Per $1000 Per $1000 Per $1000
V-1 0.00 0.00 0.00 0.00
655356HZ9 0.000000 0.000000 0.000000 0.000000
V-2 0.00 0.00 0.00 0.00
655356JA2 0.000000 0.000000 0.000000 0.000000
0.00 0.00 0.00 0.00
Interest Pass-Through
Class Adjustment Rate (2)
CUSIP Per $1000 Next Rate (3)
V-1 0.00 None
655356HZ9 0.000000 0.000000%
V-2 0.00 None
655356JA2 0.000000 0.000000%
0.00 0.000000%
Amount of Available Funds allocable to principal:
Principal Distribution Amount 382,576.97
S-1 Principal Distribution Amount 0.00
Amount of Available Funds Allocable to Principal 382,576.97
Amount of S-1 Available Funds Allocable to Principal 0.00
Advance Summary: Beginning Current
Unreimbursed Period
Servicer Property Protection Advances 0.00 0.00
Servicer S-1 P&I Advances 0.00 0.00
Servicer P&I Advances 0.00 0.00
Trustee P&I Advances 0.00 0.00
Fiscal Agent P&I Advance 0.00 0.00
Total 0 0
Advance Summary:
Ending
Reimbursed Unreimbursed
Servicer Property Protection Advances 0.00 0.00
Servicer S-1 P&I Advances 0.00 0.00
Servicer P&I Advances 0.00 0.00
Trustee P&I Advances 0.00 0.00
Fiscal Agent P&I Advance 0.00 0.00
Total 0.00 0.00
Amount of Available Funds Allocable to Interest
0.00
Class Interest
CS-2 Distirbution
Components Amount
A-1B Component 132,715.49
A-1C Component 2,824.93
A-2 Component 10,339.74
A-3 Component 9,309.51
A-4 Component 5,722.45
A-5 Component 590.04
Class Current
CS-2 Interest
Components Shortfall
A-1B Component 0.00
A-1C Component 0.00
A-2 Component 0.00
A-3 Component 0.00
A-4 Component 0.00
A-5 Component 0.00
Prepayment Interest Shortfall 0.00
S-1 Prepayment Interest Shortfall 0.00
Servicers Prepayment Interest Shortfall 0.00
S-1 Servicer Prepayement Interest Shortfall 0.00
Beginning Account Balance Contained in Reserve Accounts 0.00
Summary of REO Property:
Appraised value of real estate acquired through foreclosure
or grant of a deed in lieu of foreclosure 0.00
Property Date of Principal Book
Name REO Balance Value
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Totals 0.00 0.00
Aggregate
Date of Amount Other
Final of Revenues
Name Recovery Proceeds Collected
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Totals 0.00 0.00
Specially Serviced Mortgage Loans:
Principal
Borrower Number Balance
0 0 0.00
Summary of Expenses:
Current Period Servicing Fees 53,799.65
Current Period Trustee Fees 3,211.92
Current Pd. Special Servicing Compensation Paid 0.00
Add'l Servicing Compensation, per Section 3.12a 0.00
Total 57,011.57
Amount per
$1,000
Prepayment Premiums received during the Collection Period 0.00
Default Interest received during the Collection Period 0.00
Net Default Interest received during the Collection Period 0.00
Excess Interest received during the Collection Period 0.00
Prepayment Premiums received during the Collection Period 0.00
Default Interest received during the Collection Period 0.00
Net Default Interest received during the Collection Period 0.00
Excess Interest received during the Collection Period 0.00
Current Aggregate
Prior Remaining Realized Realized
Interest Interest Loss Loss
Class Shortfall Shortfall Allocation Allocation
A-1B 0.00 0.00 0.00 0.00
A-1C 0.00 0.00 0.00 0.00
CS-1 0.00 0.00 0.00 0.00
CS-2 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00
A-5 0.00 0.00 0.00 0.00
S-1 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 0.00
B-2H 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00
Total 0.00 0.00 0.00 0.00
Current Cumulative
Realized Losses on Mortgage Loans 0.00 0.00
Realized Losses on S-1 0.00 0.00
Beginning Ending
Strip Component Balances: Principal Principal
Balance Balance
A-1A 147,167,990.64 146,785,413.67
A-1B 352,001,941.00 352,001,941.00
A-1C 7,492,566.00 7,492,566.00
A-2 44,955,397.00 44,955,397.00
A-3 52,447,964.00 52,447,964.00
A-4 48,701,680.00 48,701,680.00
A-5 11,238,849.00 11,238,849.00
TOTAL
Delinquency /Prepayment / Rate History Reporting
Distribution Delinq 1 Month Delinq 2 Months
Date # Balance # Balance
11/14/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
10/16/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
09/13/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
08/14/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
07/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
06/13/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
05/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
04/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
Distribution Delinq 3+ Months Foreclosure / Bankruptcy
Date # Balance # Balance
11/14/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
10/16/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
09/13/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
08/14/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
07/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
06/13/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
05/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
04/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
Distribution REO Modifications
Date # Balance # Balance
11/14/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
10/16/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
09/13/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
08/14/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
07/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
06/13/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
05/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
04/15/96 0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
0 0 0 0
0.00% 0.000% 0.00% 0.000%
Distribution Prepayments Next Weighted Avg.
Date # Balance Coupon Remit
11/14/96 0 0 8.41037% 8.3473%
0.00% 0.000%
10/16/96 0 0 8.69069% 8.6281%
0.00% 0.000%
09/13/96 0 0 8.41034% 8.3473%
0.00% 0.000%
08/14/96 0 0 8.69066% 8.6281%
0.00% 0.000%
07/15/96 0 0 8.97097% 8.9089%
0.00% 0.000%
06/13/96 0 0 8.41029% 8.3472%
0.00% 0.000%
05/15/96 0 0 8.41026% 8.3472%
0.00% 0.000%
04/15/96 0 0 8.41025% 8.3472%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
0 0 0.00000% 0.0000%
0.00% 0.000%
Note: Foreclosure and REO Totals are Included in the
Appropriate Delinquency Aging Category
Financial Statements and other Information relating
to the Mortgage Loans have been filed under a FORM SE
based on an EDGAR Hardship Exemption.
Delinquency Loan Detail
Disclosure Paid Outstanding
Doc Thru Current P&I P&I
Control # Period Date Advance Advances**
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
TOTALS: 0 0 0 0
Outstanding
Disclosure Property
Doc Protection Advance Loan
Control # Period Advances Description (1) Status (2)
0 0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
TOTALS: 0 0 0 0
Special
Disclosure Servicer
Doc Transfer Foreclosure
Control # Period Date Date
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
TOTALS: 0 0 0
Disclosure
Doc Bankruptcy REO
Control # Period Date Date
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
TOTALS: 0 0 0
Loan Level Detail
Special
Offering Servicer
Circular Property Transfer Maturity
Control # Type Date State Date
000004000272860 Office 0 0 03/11/2028
000004000273500 Hospitality 0 0 03/11/2016
000004000273520 Hospitality 0 0 02/11/2014
000004000273530 Industrial 0 0 01/11/2026
000004000273540 Hospitality 0 0 02/11/2014
000004000273560 Retail 0 0 03/11/2021
000004000273570 Retail 0 0 03/11/2036
000004000273580 Hospitality 0 0 04/11/2022
000004000273590 Retail 0 0 03/11/2026
000004000273610 Retail-Anchored 0 0 04/11/2026
000004000273620 Hospitality 0 0 10/11/2017
Offering Ending Scheduled
Circular Scheduled Note Principal
Control # Balance Rate Payment
000004000272860 161,000,000 7.7860% 0.00
000004000273500 51,436,416 9.1100% 67,508.57
000004000273520 85,943,176 7.9650% 222,946.87
000004000273530 40,000,000 7.2200% 0.00
000004000273540 24,435,948 7.9650% 0.00
000004000273560 64,568,705 8.5740% 49,555.60
000004000273570 42,000,000 9.0000% 0.00
000004000273580 140,000,000 8.8500% 0.00
000004000273590 62,791,938 8.9100% 20,906.31
000004000273610 68,301,807 9.0000% 21,659.62
000004000273620 30,000,000 8.1700% 0.00
Offering Paid
Circular Prepayments Prepayment Through
Control # /Liquidations Date Date
000004000272860 0 11/11/96
000004000273500 0 11/11/96
000004000273520 0 11/11/96
000004000273530 0 11/11/96
000004000273540 0 11/11/96
000004000273560 0 11/11/96
000004000273570 0 11/11/96
000004000273580 0 11/11/96
000004000273590 0 11/11/96
000004000273610 0 11/11/96
000004000273620 0 11/11/96
Offering Prepayment Loan
Circular Premium Status
Control # Amount Code (*)
000004000272860
000004000273500
000004000273520
000004000273530
000004000273540
000004000273560
000004000273570
000004000273580
000004000273590
000004000273610
000004000273620
(*) 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
Exhibit 5.2
1996-MD V
QUARTERLY COLLATERAL SUMMARY(1)
Second Quarter 1996
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
PROPERTY Revenues Management FeesDebt ServicFees
FIRST INDUSTRIAL
1. 8181 Logistics DR 252967 26928 226039 5871
2. 20W201 101st Street 303796 45713 258083 9108
3. 3232 Kraft Avenue 216078 35141 180937 4758
4. 720-730 Landwehr Road 138033 37231 100802 3307
5. 2700 Freeway Blvd 187832 59385 128447 5746
6. 9043-9083 Frost Ave 114122 28643 85479 3652
7. 1621 Heil Quarker Blvd 99208 12282 86926 3224
8. 3425 Corporate Way 143658 16696 126962 3295
9. 3450 Corporate Way 98024 11832 86192 3019
10. 3400 Corporate Way 96070 20334 75736 2890
11. 8921-8957 Frost Ave 78844 14546 64298 2413
12. 1731 Thorncroft 71475 9668 61807 2039
13. 280-296 Palatine Rd 146205 58907 87298 4451
14. 3170-3190 MacArthur Blvd.99248 28811 70437 2908
15. 4250 River Green Parkway 70463 14146 56317 2067
16. 3500 Corporate Way 85338 12863 72475 2288
17. 1653 East Maple 54676 9903 44773 1405
18. 1330 Crooks Road 51418 10711 40707 1506
19. 4150 Varsity Drive 50362 2630 47732 1148
20. 5062 Kendrick Court 33145 3705 29440 839
21. 47461 Clipper 27195 6859 20336 894
22. 47522 Galleon 21370 4922 16448 556
23. 2654 Elliot 14003 3277 10726 394
TOTAL: 2453530 475133 1978397 67778
2nd Quarter 1996
Adjusted Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
FIRST INDUSTRIAL 42280.8 738044.45 2.680593289 2.531471106
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
BARNES MALL
1. Mall at Barnes Crossing 1999674 645396.5 1354277.5 97828
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
BARNES MALL
1. Mall at Barnes Crossing 21750 9660001.401943582 1.278156832
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
HGI
1. Lakeside Marketplace 1481196 486881 994315N/A
2. Pacific Edge 773565 154387 619178N/A
3. Oshkosh 870651 186115 684536N/A
4. Outlets at Fremont 741541 138915 602626N/A
TOTAL: 3866953 966298 2900655 154678.12
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
HGI 116425.74 1579928.971.835940131 1.664347695
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
CRESCENT
1. Hyatt Regency Beaver Creek 1290562 61611 1228951 6663
2. Albuquerque Plaza 1585576 498473 1087103 41366
3. Hyatt Regency Albuquerque 1082318 1192 1081126 0
4. Two Renaissance Center 2249180 737267 1511913 60500
5. MacArthur Center I & II 1202418 532212 670206 37846
6. Ptarmigan Place 1027390 659298 368092 25887
7. Stanford Corporate Square 1034056 474318 559738 32010
8. Briargate Office/Research 852378 350613 501765 24640
9. 12404 Park Central 871875 445231 426644 21949
10. Liberty Plaza I&II 732416 316966 415450 19507
11. Las Colinas Plaza 492514 203490 289024 14029
12. Barton Oaks Plaza 382729 194962 187767 12481
Total: 12803412 4475633 8327779 296878
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
CRESCENT 751212 3203506.452.599582404 2.272412781
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
BELTWAY PLAZA MALL
1. Beltway Plaza Shopping Cen 2802593 795514 2007079 116850
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
BELTWAY PLAZA MALL
1. Beltway Plaza Shopping Cen 50003.191508513.58 1.330501115 1.219893433
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
MARRIOTT RESIDENCE INS
1. MRJ Las Vegas 1615229 768743 846486 32304.58
2. MRJ Arcadia 861741 423242 438499 17234.82
3. MRJ Greensboro 869367 433103 436264 17387.34
4. MRJ Boca Raton 776701 489097 287604 15534.02
5. MRJ Birmingham 738442 404906 333536 14768.84
6. MRJ Irvine 786576 423862 362714 15731.52
7. MRJ Valley Forge 757924 370974 386950 15158.48
8. MRJ Santa Fe 688442 437313 251129 13768.84
9. MRJ Jackson 796113 440291 355822 15922.26
10. MRJ Boston/Danvers 726178 383884 342294 14523.56
11. MRJ Jacksonville 758672 442823 315849 15173.44
12. MRJ Chicago Deerfield824095 510167 313928 16481.9
13. MRJ Akron 606591 413819 192772 12131.82
14. MRJ St. Petersburg/ 603853 366641 237212 12077.06
15. MRJ Columbia 683777 421490 262287 13675.54
16. MRJ Kalamazoo 520964 271007 249957 10419.28
17. MRJ Placentia 598103 347280 250823 11962.06
18. MRJ Charlotte North 635968 347426 288542 12719.36
19. MRJ Pensacola 417781 238210 179571 8355.62
20. MRJ Memphis East 662984 461470 201514 13259.68
21. MRJ Spartanburg 504577 311809 192768 10091.54
22. MRJ Lubbock 473057 299975 173082 9461.14
Total 15907135 9007532 6899603 318142.7
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
MARRIOTT RESIDENCE INS 795356.75 28910282.386556962 2.001400038
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
BAY PLAZA
1.Bay Plaza Shopping Center 2963496 482725 2480771 94709
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
BAY PLAZA
1.Bay Plaza Shopping Center 15990 1653499.47 1.50031557 1.433367257
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
INNKEEPERS
1. Mountainview 1279005 600585 678420 47380
2. Troy Central 1099791 464780 635011 41316
3. Englewood (Denver) 964496 520183 444313 36759
4. Windsor 688264 382670 305594 26193
5. Troy SE 689628 336354 353274 25798
6. Richmond 557777 299071 258706 21307
7. San Jose 745029 374785 370244 27912
8. Fremont 722600 400737 321863 27414
Total 6746590 3379165 3367425 254079
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
INNKEEPERS 250701.08 626366.665.376124266 4.570238333
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
BUENA VISTA PALACE
1. Buena Vista Palace 15344850 11752301 3592549 439192
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
` Reserves Service DSCR(2) DSCR (3)
BUENA VISTA PALACE
1. Buena Vista Palace 919293 14146282.539571534 1.579259
2nd Quarter 1992nd Quarter 199Cash Flow 2nd Quarter 1996
Total Expenses BeforeAvailable fManagement
Revenues Management FeesDebt ServicFees
SHANER
1. Holiday Inn - Crown Plaza 1362777 918361 444416
2. Radisson - Memphis 1874727 1358747 515980
3. Hawthorn Suites South - Au 791283 457307 333976
4. Hawthorn Suites NW - Austi 839797 390102 449695
5. Hampton Inn - Phoenix 610938 384109 226829
6. Hawthorn Suites - San Anto 751757 446175 305582
7. Hawthorn Suites - Arlingto 744662 436628 308034
8. Embassy Suites - Abilene 1025900 774559 251341
9. Hawthorn Suites Greentree 874213 522694 494667
10. Holiday Inn - Tyler 804015 505855 298160
11. Holiday Inn - New Braunfe 576444 350227 226217
12. Hawthorn Suites - Richard 528561 301586 226975
13. Marriot Residence Inn - M 604960 333090 271870
14. Hampton Inn - CO Springs 637045 367663 269382
15. Holiday Inn Select - Wins 935492 676424 259068
16. Holiday Inn - San Antonio 683064 543304 139760
17. Hawthorn Suites Central - 520190 299580 220610
18. Hampton Inn - Wichita Fal 413303 252224 161079
19. Hawthorn Suites - Dallas 545083 329637 215446
20. Holiday Inn Express - Ama 454074 257559 196515
21. Hampton Inn - Statesville 481330 273424 207906
22. Holiday Inn Express - Gre 450717 326111 124606
23. Hampton Inn - Searcy 443092 233004 210088
24. Holiday Inn - Alexandria 674024 516539 157485
25. Hampton Inn - Clarksdale 338061 230875 107186
26. Holiday Inn - Jacksonvill 472310 259316 212994
27. Comfort Inn - Amarillo 358844 207995 150849
28. Days Inn - Amarillo 323921 238793 85128
29. Hampton Inn - Greenwood 285199 200414 84785
30. New England Suites - Indi 207344 92000 115344
31. Comfort Inn - Lockport 230909 131498 99411
32. New England Suites - Gran 175274 83297 91977
33. New England Suites - Colu 180010 86885 93125
34. Hampton Inn - Kinston 328036 259176 68860
35. Best Western - Lockport 643639 463775 179864
Total 21170995 13508933 7805210 619312
2nd Quarter 1996 Adjusted
Funded Debt Derived Derived
Reserves Service DSCR(2) DSCR (3)
SHANER 798591.27 2447222.763.189415417 2.610022608
1) The information in this report is based on borrower supplied data and
is not necessarily presented in accordance with GAAP. The servicer
makes no representation as to its accuracy.
2) Calculated before deducting management fees and reserves. Management
fees have been subordinated under the loan documents; however, there
can be no assurance that if a manager resigns or is terminated a
replacement manager would agree to such subordination.
3) Calculated after deducting management fees and funded reserves.
4) Marriott International's period consists of thirteen periods, each
containing 28 days. Reflected is from 3/23/96 to 6/14/96
6) Barnes incurred an actual $682,555 insurance expense. The expense
reflected in this report was pro-rated one quarter.
7) First Industrial's statement reflects quarterly real estate tax and
insurance accrual.
8) Bay Plaza debt service is based on $551,166.49 monthly payment.
9) Innkeeper's funded reserves is based on 4% of Room Revenue.
10) Marriott's funded reserves is based on 5% of Gross Revenues.
11) First Horizon's management fees are calculated 4% of gross rental
revenues; Borrower does not actually charge monthly management fees.
12) Marriott debt service based on 84 day accounting period.
13) Crescent borrower is reporting on operating leases on hotel
properties.
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