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) April 22, 1996
TRUST CREATED BY SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
(under a Pooling & Servicing Agreement
dated as of February 1, 1996, which Trust is
the issuer of Commercial Mortgage Pass-Through
Certificates, Series 1996-C1)
(Exact name of Registrant as specified in its Charter)
New York 33-84924-11 36-4069689
(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 Trust Services (Zip Code)
Salomon 1996-C1
(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 April 22, 1996, Monthly Remittance
Statement provided to the Certificateholders by the Trustee.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
Monthly Remittance Statement to the Certificateholders dated as of
April 22, 1996.
Loan data file as of the April 1996 Determination Date.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MIDLAND LOAN SERVICES, L.P., not in its individual
capacity but solely as a duly authorized agent of
the Registrant pursuant to Section 3.22 of the
Pooling & Servicing Agreement dated as of February
1, 1996
By: Midland Data Systems, Inc., its General
Partner
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: April 22, 1996
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 3
dated as of April 22, 1996
Loan data file as of April 1996 25
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Brian Ames (800) 246-5761
135 S. LaSalle Street Suite 200
Chicago, IL 60603
Salomon Brothers Mortgage Securities VII, Inc.
Midland Loan Services, L.P., as Master Servicer
Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7487-70-4
Statement Date: 04/22/96
Payment Date: 04/22/96
Prior Payment: 03/20/96
Record Date: 03/29/96
WAC: 9.256540%
WAMM: 86
<TABLE>
REMIC III
<CAPTION>
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
<S> <C> <C>
A-1 ................ 50,000,000.00 49,820,110.73
79548KQD3 .......... 1000.000000 996.402215
A-2 ................ 81,468,000.00 81,468,000.00
79548KQH4 .......... 1000.000000 1000.000000
IO ................. 170,696,000.00 N 170,516,110.73
79548S9K9 .......... 1000.000000 998.946142
B .................. 14,843,000.00 14,843,000.00
79548KQE1 .......... 1000.000000 1000.000000
C .................. 14,843,000.00 14,843,000.00
79548KQF8 .......... 1000.000000 1000.000000
D .................. 9,542,000.00 9,542,000.00
79548KQG6 .......... 1000.000000 1000.000000
E .................. 21,204,000.00 21,204,000.00
79548S9F0 .......... 1000.000000 1000.000000
F .................. 11,132,000.00 11,132,000.00
79548S9G8 .......... 1000.000000 1000.000000
G .................. 9,013,633.94 8,922,775.42
79548S9H6 .......... 1000.000000 989.919879
R-III .............. 0.00 0.00
9ABSM691 ........... 1000.000000 0.000000
- - --- ----------- --------
212,045,633.94 211,774,886.15
============== ==============
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 ................ 181,256.50 0.00 0.00
79548KQD3 .......... 3.625130 0.000000 0.000000
A-2 ................ 0.00 0.00 0.00
79548KQH4 .......... 0.000000 0.000000 0.000000
IO ................. 0.00 0.00 0.00
79548S9K9 .......... 0.000000 0.000000 0.000000
B .................. 0.00 0.00 0.00
79548KQE1 .......... 0.000000 0.000000 0.000000
C .................. 0.00 0.00 0.00
79548KQF8 .......... 0.000000 0.000000 0.000000
D .................. 0.00 0.00 0.00
79548KQG6 .......... 0.000000 0.000000 0.000000
E .................. 0.00 0.00 0.00
79548S9F0 .......... 0.000000 0.000000 0.000000
F .................. 0.00 0.00 0.00
79548S9G8 .......... 0.000000 0.000000 0.000000
G .................. 91,233.91 0.00 0.00
79548S9H6 .......... 10.121768 0.000000 0.000000
R-III .............. 0.00 0.00 0.00
9ABSM691 ........... 0.000000 0.000000 0.000000
- - --- -------- -------- --------
272,490.41 0.00 0.00
========== ==== ====
Page - 3
<PAGE>
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 ................ 49,638,854.23 268,571.91 0.00
79548KQD3 .......... 992.777085 5.371438 0.000000
A-2 ................ 81,468,000.00 460,314.57 0.00
79548KQH4 .......... 1000.000000 5.650250 0.000000
IO ................. 170,334,854.23 245,521.38 0.00
79548S9K9 .......... 997.884275 1.438355 0.000000
B .................. 14,843,000.00 88,151.34 0.00
79548KQE1 .......... 1000.000000 5.938917 0.000000
C .................. 14,843,000.00 90,308.52 0.00
79548KQF8 .......... 1000.000000 6.084250 0.000000
D .................. 9,542,000.00 61,617.47 0.00
79548KQG6 .......... 1000.000000 6.457501 0.000000
E .................. 21,204,000.00 162,281.28 0.00
79548S9F0 .......... 1000.000000 7.653333 0.000000
F .................. 11,132,000.00 85,196.91 0.00
79548S9G8 .......... 1000.000000 7.653334 0.000000
G .................. 8,831,541.51 68,288.97 0.00
79548S9H6 .......... 979.798111 7.576186 0.000000
R-III .............. 0.00 0.00 0.00
9ABSM691 ........... 0.000000 0.000000 0.000000
- - --- -------- -------- --------
211,502,395.74 1,530,252.35 0.00
============== ============ ====
<TABLE>
<CAPTION>
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
<S> <C>
A-1 ................ 6.469000%
79548KQD3 .......... Fixed
A-2 ................ 6.780300%
79548KQH4 .......... Fixed
IO ................. 1.727846%
79548S9K9 .......... 1.729258%
B .................. 7.126700%
79548KQE1 .......... Fixed
C .................. 7.301100%
79548KQF8 .......... Fixed
D .................. 7.749000%
79548KQG6 .......... Fixed
E .................. 9.184000%
79548S9F0 .......... 9.184200%
F .................. 9.184000%
79548S9G8 .......... 9.184200%
G .................. 9.184000%
79548S9H6 .......... 9.184200%
R-III .............. None
9ABSM691 ........... 0.000000%
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
<TABLE>
REMIC II
<CAPTION>
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
<S> <C> <C>
U .................. 50,000,000.00 49,820,110.73
None ............... 1000.000000 996.402215
V .................. 81,468,000.00 81,468,000.00
None ............... 1000.000000 1000.000000
W .................. 14,843,000.00 14,843,000.00
None ............... 1000.000000 1000.000000
X .................. 14,843,000.00 14,843,000.00
None ............... 1000.000000 1000.000000
Y .................. 9,542,000.00 9,542,000.00
None ............... 1000.000000 1000.000000
Z .................. 41,349,633.94 41,258,775.42
None ............... 1000.000000 997.802677
R-II ............... 0.00 0.00
9ABSM690 ........... 1000.000000 0.000000
- - --- ----------- --------
212,045,633.94 211,774,886.15
============== ==============
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 4
<PAGE>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
U .................. 181,256.50 0.00 0.00
None ............... 3.625130 0.000000 0.000000
V .................. 0.00 0.00 0.00
None ............... 0.000000 0.000000 0.000000
W .................. 0.00 0.00 0.00
None ............... 0.000000 0.000000 0.000000
X .................. 0.00 0.00 0.00
None ............... 0.000000 0.000000 0.000000
Y .................. 0.00 0.00 0.00
None ............... 0.000000 0.000000 0.000000
Z .................. 91,233.91 0.00 0.00
None ............... 2.206402 0.000000 0.000000
R-II ............... 0.00 0.00 0.00
9ABSM690 ........... 0.000000 0.000000 0.000000
- - --- -------- -------- --------
272,490.41 0.00 0.00
========== ==== ====
Total P&I Payment 1,802,742.76
============
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
U .................. 49,638,854.23 290,758.47 0.00
None ............... 992.777085 5.815169 0.000000
V .................. 81,468,000.00 623,501.76 0.00
None ............... 1000.000000 7.653333 0.000000
W .................. 14,843,000.00 113,598.43 0.00
None ............... 1000.000000 7.653334 0.000000
X .................. 14,843,000.00 113,598.42 0.00
None ............... 1000.000000 7.653333 0.000000
Y .................. 9,542,000.00 73,028.11 0.00
None ............... 1000.000000 7.653334 0.000000
Z .................. 41,167,541.51 315,767.16 0.00
None ............... 995.596275 7.636516 0.000000
R-II ............... 0.00 0.00 0.00
9ABSM690 ........... 0.000000 0.000000 0.000000
- - --- -------- -------- --------
211,502,395.74 1,530,252.35 0.00
============== ============ ====
<TABLE>
<CAPTION>
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
<S> <C>
U .................. None
None ............... 0.000000%
V .................. None
None ............... 0.000000%
W .................. None
None ............... 0.000000%
X .................. None
None ............... 0.000000%
Y .................. None
None ............... 0.000000%
Z .................. None
None ............... 0.000000%
R-II ............... None
9ABSM690 ........... 0.000000%
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
<TABLE>
REMIC I
<CAPTION>
Original Opening
Class Face Value (1) Balance
CUSIP Per $1,000 Per $1,000
<S> <C> <C>
Regular ............ 212,045,633.94 211,865,744.67
None ............... 1000.000000 999.151648
R-I ................ 0.00 0.00
9ABSM689 ........... 1000.000000 0.000000
- - --- ----------- --------
212,045,633.94 211,865,744.67
============== ==============
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 5
<PAGE>
Principal Principal Negative
Class Payment Adj. or Loss Amortization
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular ............ 181,256.50 0.00 0.00
None ............... 0.854799 0.000000 0.000000
R-I ................ 0.00 0.00 0.00
9ABSM689 ........... 0.000000 0.000000 0.000000
- - --- -------- -------- --------
181,256.50 0.00 0.00
========== ==== ====
Closing Interest Interest
Class Balance Payment Adjustment
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular ............ 211,684,488.17 1,621,486.26 0.00
None ............... 998.296849 7.646874 0.000000
R-I ................ 0.00 0.00 0.00
9ABSM689 ........... 0.000000 0.000000 0.000000
- - --- -------- -------- --------
211,684,488.17 1,621,486.26 0.00
============== ============ ====
<TABLE>
<CAPTION>
Pass-Through
Class Rate (2)
CUSIP Next Rate (3)
<S> <C>
Regular ............ None
None ............... 0.000000%
R-I ................ None
9ABSM689 ........... 0.000000%
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
Available Distribution Amount 1,802,742.76
<TABLE>
<CAPTION>
Prepayment Previous Loss Unpaid
Class Premiums Reimbursement Interest
<S> <C> <C> <C>
A-1 ............... 0.00 0.00 0.00
A-2 ............... 0.00 0.00 0.00
IO ................ 0.00 0.00 0.00
B ................. 0.00 0.00 0.00
C ................. 0.00 0.00 0.00
D ................. 0.00 0.00 0.00
E ................. 0.00 0.00 0.00
F ................. 0.00 0.00 0.00
G ................. 0.00 0.00 0.00
---- ---- ----
0.00 0.00 0.00
==== ==== ====
</TABLE>
Principal Distribution
Class Scheduled Unscheduled
A-1 ................ 181,256.50 0.00
A-2 ................ 0.00 0.00
IO ................. 0.00 0.00
B .................. 0.00 0.00
C .................. 0.00 0.00
D .................. 0.00 0.00
E .................. 0.00 0.00
F .................. 0.00 0.00
G .................. 0.00 91,233.91
---- ---------
181,256.50 91,233.91
========== =========
Interest on P&I Advances per 4.03(d) 0.00
Interest on P&I Advances per 3.29(d) 0.00
Aggregate Servicing Compensation 12,800.22
Aggregate Special Servicing Compensation 0.00
Fees/ Premiums paid to Class R-I 0.00
Page - 6
<PAGE>
MORTGAGE POOL
Balance 211,684,488.17
STATED PRINCIPAL
Balance 211,684,488.17
Assigned
Asset Value 211,684,488.17
Loan Remaining
Count Term WAC
43 86 9.256656%
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
Distribution Delinq 1 Month
Date # Balance
04/22/96 0.00 0.00
0.00% 0.000%
Distribution Delinq 2 Months
Date # Balance
04/22/96 0.00 0.00
0.00% 0.000%
Distribution Delinq 3+ Months
Date # Balance
04/22/96 0.00 0.00
0.00% 0.000%
<TABLE>
<CAPTION>
Distribution Foreclosure/Bankruptcy (1)
Date # Balance
<S> <C> <C>
04/22/96 0.00 0.00
0.00% 0.000%
<FN>
(1) Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
</FN>
</TABLE>
<TABLE>
<CAPTION>
Distribution REO (1)
Date # Balance
<S> <C> <C>
04/22/96 0.00 0.00
0.00% 0.000%
<FN>
(1) Foreclosure and REO Totals are Included in the Appropriate Delinquency
Aging Category
</FN>
</TABLE>
Distribution Modifications
Date # Balance
04/22/96 0.00 0.00
0.00% 0.000%
DistributionPrepayments
Date # Balance
04/22/96 0.00 0.00
0.00% 0.000%
Distribution Next Weighted Avg.
Date Coupon Remit
04/22/96 9.25666% 9.1842%
Delinquency Loan Detail
Paid
Disclosure Doc Thru
Control # Period Date
30208306 199604 03/01/96
30208524 199604 03/01/96
Page - 7
<PAGE>
<TABLE>
<CAPTION>
Outstanding
Outstanding Property
Disclosure Current P&I P&I Protection
Control # Advance Advances(1) Advances
<S> <C> <C> <C>
30208306 99,364.58 99,364.58 0.00
30208524 96,484.83 96,484.83 0.00
- -------- --------- --------- ----
TOTALS: 195,849.41 195,849.41 0.00
========== ========== ====
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
<TABLE>
<CAPTION>
Special
Servicer
Disclosure Advance Loan Transfer
Control # Description (1) Status (2) Date
<S> <C> <C> <C>
30208306 B 0
30208524 B 0
- -------- -
TOTALS: 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
</FN>
</TABLE>
Disclosure Foreclosure Bankruptcy REO
Control # Date Date Date
30208306
30208524
TOTALS:
Distribution of Principal Balances
Current Scheduled Number
Principal Balances of Loans
$0 to $500,000 ............... 1
$500,000 to $1,000,000 ....... 3
$1,000,000 to $1,500,000 ..... 4
$1,500,000 to $2,000,000 ..... 3
$2,000,000 to $2,500,000 ..... 0
$2,500,000 to $3,000,000 ..... 2
$3,000,000 to $3,500,000 ..... 2
$3,500,000 to $4,000,000 ..... 3
$4,000,000 to $4,500,000 ..... 1
$4,500,000 to $5,000,000 ..... 7
$5,000,000 to $5,500,000 ..... 6
$5,500,000 to $6,000,000 ..... 2
$6,000,000 to $6,500,000 ..... 0
$6,500,000 to $7,000,000 ..... 4
$7,000,000 to $7,500,000 ..... 1
$7,500,000 to $8,000,000 ..... 0
$8,000,000 to $8,500,000 ..... 1
$8,500,000 to $9,000,000 ..... 0
$9,000,000 to $9,500,000 ..... 0
$9,500,000 & above ........... 3
- ---------- -
Total ........................ 43
==
Page - 8
<PAGE>
Distribution of Principal Balances
Current Scheduled Scheduled
Principal Balances Principal Balance
$0 to $500,000 ............... 482,730.87
$500,000 to $1,000,000 ....... 2,398,644.12
$1,000,000 to $1,500,000 ..... 5,220,994.16
$1,500,000 to $2,000,000 ..... 5,495,498.79
$2,000,000 to $2,500,000 ..... 0.00
$2,500,000 to $3,000,000 ..... 5,107,617.36
$3,000,000 to $3,500,000 ..... 6,760,673.71
$3,500,000 to $4,000,000 ..... 11,122,802.02
$4,000,000 to $4,500,000 ..... 4,422,231.18
$4,500,000 to $5,000,000 ..... 33,305,257.53
$5,000,000 to $5,500,000 ..... 31,457,270.88
$5,500,000 to $6,000,000 ..... 11,511,306.96
$6,000,000 to $6,500,000 ..... 0.00
$6,500,000 to $7,000,000 ..... 27,464,349.70
$7,000,000 to $7,500,000 ..... 7,363,975.92
$7,500,000 to $8,000,000 ..... 0.00
$8,000,000 to $8,500,000 ..... 8,007,748.14
$8,500,000 to $9,000,000 ..... 0.00
$9,000,000 to $9,500,000 ..... 0.00
$9,500,000 & above ........... 51,563,386.83
- ---------- -------------
Total ........................ 211,684,488.17
==============
Distribution of Principal Balances
Current Scheduled Based on
Principal Balances Balance
$0 to $500,000 ............... 0.23%
$500,000 to $1,000,000 ....... 1.13%
$1,000,000 to $1,500,000 ..... 2.47%
$1,500,000 to $2,000,000 ..... 2.60%
$2,000,000 to $2,500,000 ..... 0.00%
$2,500,000 to $3,000,000 ..... 2.41%
$3,000,000 to $3,500,000 ..... 3.19%
$3,500,000 to $4,000,000 ..... 5.25%
$4,000,000 to $4,500,000 ..... 2.09%
$4,500,000 to $5,000,000 ..... 15.73%
$5,000,000 to $5,500,000 ..... 14.86%
$5,500,000 to $6,000,000 ..... 5.44%
$6,000,000 to $6,500,000 ..... 0.00%
$6,500,000 to $7,000,000 ..... 12.97%
$7,000,000 to $7,500,000 ..... 3.48%
$7,500,000 to $8,000,000 ..... 0.00%
$8,000,000 to $8,500,000 ..... 3.78%
$8,500,000 to $9,000,000 ..... 0.00%
$9,000,000 to $9,500,000 ..... 0.00%
$9,500,000 & above ........... 24.36%
- ---------- -----
Total 100.00%
======
Average Scheduled Balance is 4,922,895
Maximum Scheduled Balance is 28,229,968
Minimum Scheduled Balance is 482,731
Distribution of Property Types
Number
Property Types of Loans
MF Housing ......... 21
Retail ............. 12
Office/Industrial .. 1
Hospitality ........ 5
Office/Retail ...... 2
Industrial ......... 1
Office ............. 1
-
Total .............. 43
==
Page - 9
<PAGE>
Distribution of Property Types
Scheduled
Property Types Principal Balance
MF Housing ......... 73,065,480.93
Retail ............. 66,297,578.34
Office/Industrial .. 28,229,967.65
Hospitality ........ 24,165,023.05
Office/Retail ...... 10,804,705.63
Industrial ......... 5,411,305.49
Office ............. 3,710,427.08
------------
Total .............. 211,684,488.17
==============
Distribution of Property Types
Based on
Property Types Balance
MF Housing ......... 34.52%
Retail ............. 31.32%
Office/Industrial .. 13.34%
Hospitality ........ 11.42%
Office/Retail ...... 5.10%
Industrial ......... 2.56%
Office ............. 1.75%
----
Total .............. 100.00%
======
Geographic Distribution
Number
Geographic Location of Loans
Georgia ............ 11
Texas .............. 9
Washington ......... 1
New Jersey ......... 4
Florida ............ 4
Nevada ............. 1
Kansas ............. 2
Nebraska ........... 1
Connecticut ........ 1
New York ........... 3
Tennessee .......... 1
Arizona ............ 1
Oklahoma ........... 1
South Carolina ..... 1
Maryland ........... 1
Louisiana .......... 1
-
Total .............. 43
==
Geographic Distribution
Scheduled
Geographic Location Principal Balance
Georgia ............ 47,659,743.56
Texas .............. 28,913,083.17
Washington ......... 28,229,967.65
New Jersey ......... 26,875,603.63
Florida ............ 22,389,183.76
Nevada ............. 11,732,202.14
Kansas ............. 8,525,062.01
Nebraska ........... 5,982,607.04
Connecticut ........ 5,528,699.92
New York ........... 5,514,941.02
Tennessee .......... 4,833,629.50
Arizona ............ 4,591,807.14
Oklahoma ........... 3,639,094.23
South Carolina ..... 3,396,105.52
Maryland ........... 2,531,551.82
Louisiana .......... 1,341,206.06
------------
Total .............. 211,684,488.17
==============
Page - 10
<PAGE>
Geographic Distribution
Based on
Geographic Location Balance
Georgia ............ 22.51%
Texas .............. 13.66%
Washington ......... 13.34%
New Jersey ......... 12.70%
Florida ............ 10.58%
Nevada ............. 5.54%
Kansas ............. 4.03%
Nebraska ........... 2.83%
Connecticut ........ 2.61%
New York ........... 2.61%
Tennessee .......... 2.28%
Arizona ............ 2.17%
Oklahoma ........... 1.72%
South Carolina ..... 1.60%
Maryland ........... 1.20%
Louisiana .......... 0.63%
----
Total .............. 100.00%
======
<TABLE>
Distribution of Mortgage Interest Rates
<CAPTION>
Current Mortgage Number
Interest Rate (1) of Loans
<S> <C>
8.500%or less ...... 5
8.501%to 8.625% .... 1
8.626%to 8.750% .... 5
8.751%to 8.875% .... 5
8.876%to 9.000% .... 3
9.001%to 9.125% .... 0
9.126%to 9.250% .... 1
9.251%to 9.375% .... 1
9.376%to 9.500% .... 0
9.501%to 9.625% .... 2
9.626%to 9.750% .... 1
9.751%to 9.875% .... 3
9.876%to 10.000% ... 3
10.001%to 10.125% .. 3
10.126%& above 0.000% 10
- ------ ----- --
Total .............. 43
==
<FN>
(1) Weighted Average Mortgage Interest Rate is 9.2567%
Minimum Mortgage Interest Rate is 7.9500%
Maximum Mortgage Interest Rate is 11.1600%
</FN>
</TABLE>
<TABLE>
Distribution of Mortgage Interest Rates
<CAPTION>
Current Mortgage Scheduled
Interest Rate (1) Principal Balance
<S> <C>
8.500%or less ...... 46,856,139.73
8.501%to 8.625% .... 5,528,699.92
8.626%to 8.750% .... 25,387,530.25
8.751%to 8.875% .... 30,050,601.58
8.876%to 9.000% .... 14,956,543.83
9.001%to 9.125% .... 0.00
9.126%to 9.250% .... 3,773,280.71
9.251%to 9.375% .... 7,363,975.92
9.376%to 9.500% .... 0.00
9.501%to 9.625% .... 14,308,267.68
9.626%to 9.750% .... 4,422,231.18
9.751%to 9.875% .... 10,981,285.48
9.876%to 10.000% ... 2,933,518.16
10.001%to 10.125% .. 9,577,036.17
10.126%& above ..... 35,545,377.56
- ------ -------------
Total .............. 211,684,488.17
==============
<FN>
(1) Weighted Average Mortgage Interest Rate is 9.2567%
Minimum Mortgage Interest Rate is 7.9500%
Maximum Mortgage Interest Rate is 11.1600%
</FN>
</TABLE>
Page - 11
<PAGE>
<TABLE>
Distribution of Mortgage Interest Rates
<CAPTION>
Current Mortgage Based on
Interest Rate (1) Balance
<S> <C>
8.500%or less ...... 22.13%
8.501%to 8.625% .... 2.61%
8.626%to 8.750% .... 11.99%
8.751%to 8.875% .... 14.20%
8.876%to 9.000% .... 7.07%
9.001%to 9.125% .... 0.00%
9.126%to 9.250% .... 1.78%
9.251%to 9.375% .... 3.48%
9.376%to 9.500% .... 0.00%
9.501%to 9.625% .... 6.76%
9.626%to 9.750% .... 2.09%
9.751%to 9.875% .... 5.19%
9.876%to 10.000% ... 1.39%
10.001%to 10.125% .. 4.52%
10.126%& above ..... 16.79%
- ------ -----
Total .............. 100.00%
======
<FN>
(1) Weighted Average Mortgage Interest Rate is 9.2567%
Minimum Mortgage Interest Rate is 7.9500%
Maximum Mortgage Interest Rate is 11.1600%
</FN>
</TABLE>
Loan Seasoning
Number
Number of Years of Loans
1 year or less ..... 22
1+ to 2 years ...... 21
2+ to 3 years ...... 0
3+ to 4 years ...... 0
4+ to 5 years ...... 0
5+ to 6 years ...... 0
6+ to 7 years ...... 0
7+ to 8 years ...... 0
8+ to 9 years ...... 0
9+ to 10 years ..... 0
10 years or more ... 0
- -- -
Total .............. 43
==
Loan Seasoning
Scheduled
Number of Years Principal Balance
1 year or less ..... 134,540,167.05
1+ to 2 years ...... 77,144,321.12
2+ to 3 years ...... 0.00
3+ to 4 years ...... 0.00
4+ to 5 years ...... 0.00
5+ to 6 years ...... 0.00
6+ to 7 years ...... 0.00
7+ to 8 years ...... 0.00
8+ to 9 years ...... 0.00
9+ to 10 years ..... 0.00
10 years or more ... 0.00
- -- ----
Total .............. 211,684,488.17
==============
Based on
Number of Years Balance
1 year or less ..... 63.56%
1+ to 2 years ...... 36.44%
2+ to 3 years ...... 0.00%
3+ to 4 years ...... 0.00%
4+ to 5 years ...... 0.00%
5+ to 6 years ...... 0.00%
6+ to 7 years ...... 0.00%
7+ to 8 years ...... 0.00%
8+ to 9 years ...... 0.00%
9+ to 10 years ..... 0.00%
10 years or more ... 0.00%
- --
----
Total .............. 100.00%
======
Weighted Average Seasoning is 0.7
Page - 12
<PAGE>
Distribution of Amortization Type
Number
Amortization Type of Loans
Amortizing Balloon 43
--
Total 43
==
Distribution of Amortization Type
Scheduled
Amortization Type Principal Balance
Amortizing Balloon 211,684,488.17
----
Total 211,684,488.17
==============
Distribution of Amortization Type
Based on
Amortization Type Balance
Amortizing Balloon 100.00%
------
Total 100.00%
======
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Number
Mortgage Loans of Loans
60 months or less 0
61 to 120 months 0
121 to 180 months 0
181 to 240 months 0
241 to 360 months 0
- --- --- -
Total 0
=
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Scheduled
Mortgage Loans Principal Balance
60 months or less 0.00
61 to 120 months 0.00
121 to 180 months 0.00
181 to 240 months 0.00
241 to 360 months 0.00
- --- --- ----
Total 0.00
====
Distribution of Remaining Term
Fully Amortizing
Fully Amortizing Based on
Mortgage Loans Balance
60 months or less 0.00%
61 to 120 months 0.00%
121 to 180 months 0.00%
181 to 240 months 0.00%
241 to 360 months 0.00%
- --- --- ----
Total 0.00%
====
Weighted Average Months to Maturity is NA
Page - 13
<PAGE>
Distribution of Remaining Term
Balloon Loans
Balloon Number
Mortgage Loans of Loans
12 months or less 0
13 to 24 months 0
25 to 36 months 1
37 to 48 months 4
49 to 60 months 0
61 to 120 months 38
121 to 180 months 0
181 to 240 months 0
- --- --- -
Total 43
==
Distribution of Remaining Term
Balloon Loans
Balloon Scheduled
Mortgage Loans Principal Balance
12 months or less 0.00
13 to 24 months 0.00
25 to 36 months 11,601,217.04
37 to 48 months 18,585,504.06
49 to 60 months 0.00
61 to 120 months 181,497,767.07
121 to 180 months 0.00
181 to 240 months 0.00
- --- --- ----
Total 211,684,488.17
==============
Distribution of Remaining Term
Balloon Loans
Balloon Based on
Mortgage Loans Balance
12 months or less 0.00%
13 to 24 months 0.00%
25 to 36 months 5.48%
37 to 48 months 8.78%
49 to 60 months 0.00%
61 to 120 months 85.74%
121 to 180 months 0.00%
181 to 240 months 0.00%
- --- --- ----
Total 100.00%
======
Weighted Average Months to Maturity is 86
<TABLE>
Distribution of DSCR
<CAPTION>
Debt Service Number
Coverage Ratio (1) of Loans
<C> <C>
1.000%or less ...... 0
1.001%to 1.125% .... 1
1.126%to 1.250% .... 6
1.251%to 1.375% .... 18
1.376%to 1.500% .... 6
1.501%to 1.625% .... 5
1.626%to 1.750% .... 4
1.751%to 1.875% .... 1
1.876%to 2.000% .... 0
2.001%to 2.125% .... 0
2.126%to 2.250% .... 0
2.251%to 2.375% .... 0
2.376%to 2.500% .... 0
2.501%to 2.625% .... 0
2.626%& above ...... 1
Unknown ............ 1
-
Total .............. 43
==
<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
of Underwriter makes any representation as to the accuracy of the data
provided by the borrower for this calculation.
</FN>
</TABLE>
Page - 14
<PAGE>
<TABLE>
Distribution of DSCR
<CAPTION>
Debt Service Scheduled
Coverage Ratio (1) Principal Balance
<C> <C>
1.000%or less ...... 0.00
1.001%to 1.125% .... 7,363,975.92
1.126%to 1.250% .... 33,567,257.42
1.251%to 1.375% .... 107,593,137.31
1.376%to 1.500% .... 21,683,354.01
1.501%to 1.625% .... 9,755,824.74
1.626%to 1.750% .... 20,800,454.86
1.751%to 1.875% .... 909,597.31
1.876%to 2.000% .... 0.00
2.001%to 2.125% .... 0.00
2.126%to 2.250% .... 0.00
2.251%to 2.375% .... 0.00
2.376%to 2.500% .... 0.00
2.501%to 2.625% .... 0.00
2.626%& above ...... 3,364,568.19
Unknown ............ 6,646,318.41
------------
Total .............. 211,684,488.17
==============
<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
of Underwriter makes any representation as to the accuracy of the data
provided by the borrower for this calculation.
</FN>
</TABLE>
<TABLE>
Distribution of DSCR
<CAPTION>
Debt Service Based on
Coverage Ratio (1) Balance
<C> <C>
1.000%or less ...... 0.00%
1.001%to 1.125% .... 3.48%
1.126%to 1.250% .... 15.86%
1.251%to 1.375% .... 50.83%
1.376%to 1.500% .... 10.24%
1.501%to 1.625% .... 4.61%
1.626%to 1.750% .... 9.83%
1.751%to 1.875% .... 0.43%
1.876%to 2.000% .... 0.00%
2.001%to 2.125% .... 0.00%
2.126%to 2.250% .... 0.00%
2.251%to 2.375% .... 0.00%
2.376%to 2.500% .... 0.00%
2.501%to 2.625% .... 0.00%
2.626%& above ...... 1.59%
Unknown ............ 3.14%
----
Total .............. 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
of 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 1.371%
NOI Aging
Number
NOI Date of Loans
1 year or less ..... 0
1+ to 2 years ...... 43
2+ & above ......... 0
Unknown ............ 0
-
Total .............. 43
==
Page - 15
<PAGE>
NOI Aging
Scheduled
NOI Date Principal Balance
1 year or less ..... 0.00
1+ to 2 years ...... 211,684,488.17
2+ & above ......... 0.00
Unknown ............ 0.00
----
Total .............. 211,684,488.17
==============
NOI Aging
Based on
NOI Date Balance
1 year or less ..... 0.00%
1+ to 2 years ...... 100.00%
2+ & above ......... 0.00%
Unknown ............ 0.00%
----
Total .............. 100.00%
======
Loan Level Detail
Special Servicer
Transfer
Property Name Property Date
Dobbin Square ................ Retail
42 West 48th Street .......... Office
Vista Hills .................. Retail
Plymouth Park ................ Retail
Peach Festival ............... Retail
Goethals Park ................ Industrial
West Harbor .................. MF Housing
Heritage Village ............. MF Housing
Pelican Point ................ MF Housing
Ashley Woods ................. MF Housing
West 109th Street ............ MF Housing
Emerald Bay .................. MF Housing
West 14th Street ............. MF Housing
Ranch Park ................... MF Housing
Timber Ridge ................. MF Housing
Windy Ridge .................. MF Housing
English Oaks ................. MF Housing
Northlake I .................. MF Housing
Northlake II ................. MF Housing
Brookgreen/Lantana ........... MF Housing
Kings Bridge ................. MF Housing
Beaumonde .................... MF Housing
Raritan Mall ................. Retail
Manzanita Plaza .............. Retail
Benchmark Crossing ........... Retail
Northmoor Apartments ......... MF Housing
Colonial Oaks ................ MF Housing
Continental .................. MF Housing
Atlanta ...................... Hospitality
Wichita ...................... Hospitality
Cross Creek .................. MF Housing
Knoxville .................... Hospitality
Omaha ........................ Hospitality
Overland Park ................ Hospitality
Las Palmas ................... Retail
Galleria ..................... Office/Retail
Luria Plaza .................. Retail
Crossroads at Middlebury ..... Office/Retail
Lansbury Village Apts ........ MF Housing
Grove Park ................... Retail
Redmond East ................. Office/Industrial
Strathmore S/C ............... Retail
Edmond Plaza ................. Retail
Page - 16
<PAGE>
Maturity
Property Name State Date
Dobbin Square ................ MD 08/01/99
42 West 48th Street .......... NY 10/01/99
Vista Hills .................. TX 12/01/2001
Plymouth Park ................ TX 01/01/2000
Peach Festival ............... GA 02/01/2002
Goethals Park ................ NJ 03/01/2000
West Harbor .................. GA 11/01/2004
Heritage Village ............. FL 09/01/2001
Pelican Point ................ TX 08/01/2001
Ashley Woods ................. GA 02/01/2005
West 109th Street ............ NY 11/01/2001
Emerald Bay .................. NV 09/01/2001
West 14th Street ............. NY 02/01/2005
Ranch Park ................... TX 08/01/2001
Timber Ridge ................. TX 08/01/2001
Windy Ridge .................. TX 08/01/2001
English Oaks ................. TX 11/01/2001
Northlake I .................. GA 10/01/2001
Northlake II ................. GA 10/01/2001
Brookgreen/Lantana ........... FL 12/01/2001
Kings Bridge ................. GA 12/01/2001
Beaumonde .................... LA 12/01/2001
Raritan Mall ................. NJ 07/01/98
Manzanita Plaza .............. AZ 08/01/2002
Benchmark Crossing ........... TX 08/01/2005
Northmoor Apartments ......... GA 09/01/2002
Colonial Oaks ................ GA 09/01/2005
Continental .................. SC 09/01/2005
Atlanta ...................... GA 10/01/2005
Wichita ...................... KS 10/01/2005
Cross Creek .................. GA 05/01/2002
Knoxville .................... TN 10/01/2005
Omaha ........................ NE 10/01/2005
Overland Park ................ KS 10/01/2005
Las Palmas ................... TX 10/01/2002
Galleria ..................... NJ 11/01/2005
Luria Plaza .................. FL 12/01/2005
Crossroads at Middlebury ..... CT 12/01/2002
Lansbury Village Apts ........ GA 01/01/2006
Grove Park ................... FL 01/01/2003
Redmond East ................. WA 01/01/2006
Strathmore S/C ............... NJ 01/01/2006
Edmond Plaza ................. OK 01/01/2006
Page - 17
<PAGE>
Neg Ending
Am Scheduled
Property Name (Y/N) Balance
Dobbin Square N 2,531,552
42 West 48th Street N 3,710,427
Vista Hills N 6,949,543
Plymouth Park N 6,932,220
Peach Festival N 6,646,318
Goethals Park N 5,411,305
West Harbor N 4,422,231
Heritage Village N 5,250,236
Pelican Point N 1,795,248
Ashley Woods N 1,491,070
West 109th Street N 909,597
Emerald Bay N 11,732,202
West 14th Street N 894,917
Ranch Park N 1,856,657
Timber Ridge N 594,130
Windy Ridge N 482,731
English Oaks N 1,258,774
Northlake I N 1,843,593
Northlake II N 1,129,944
Brookgreen/Lantana N 7,363,976
Kings Bridge N 8,007,748
Beaumonde N 1,341,206
Raritan Mall N 11,601,217
Manzanita Plaza N 4,591,807
Benchmark Crossing N 3,773,281
Northmoor Apartments N 4,927,644
Colonial Oaks N 4,855,136
Continental N 3,396,106
Atlanta N 4,823,725
Wichita N 3,364,568
Cross Creek N 2,576,066
Knoxville N 4,833,630
Omaha N 5,982,607
Overland Park N 5,160,494
Las Palmas N 5,270,499
Galleria N 5,276,006
Luria Plaza N 5,088,731
Crossroads at Middlebury N 5,528,700
Lansbury Village Apts. N 6,936,269
Grove Park N 4,686,241
Redmond East N 28,229,968
Strathmore S/C N 4,587,075
Edmond Plaza N 3,639,094
---------
211,684,488
===========
Page - 18
<PAGE>
Scheduled
Note Principal
Property Name Rate Payment
Dobbin Square ................ 10.1250% 2,247
42 West 48th Street .......... 10.6250% 5,358
Vista Hills .................. 10.7500% 3,369
Plymouth Park ................ 11.0000% 2,825
Peach Festival ............... 10.6250% 4,058
Goethals Park ................ 10.8750% 7,198
West Harbor .................. 9.7500% 2,368
Heritage Village ............. 10.1000% 2,691
Pelican Point ................ 10.0100% 1,608
Ashley Woods ................. 10.4500% 674
West 109th Street ............ 11.1600% 658
Emerald Bay .................. 9.5500% 6,652
West 14th Street ............. 10.7000% 384
Ranch Park ................... 9.9000% 990
Timber Ridge ................. 9.9000% 317
Windy Ridge .................. 9.9000% 258
English Oaks ................. 10.4500% 1,022
Northlake I .................. 9.8500% 976
Northlake II ................. 9.8500% 598
Brookgreen/Lantana ........... 9.3500% 4,236
Kings Bridge ................. 9.8500% 4,167
Beaumonde .................... 10.7000% 587
Raritan Mall ................. 8.8750% 11,302
Manzanita Plaza .............. 9.0000% 2,655
Benchmark Crossing ........... 9.2500% 3,430
Northmoor Apartments ......... 8.8700% 4,725
Colonial Oaks ................ 8.8000% 2,900
Continental .................. 8.8000% 2,029
Atlanta ...................... 8.7000% 7,853
Wichita ...................... 7.9500% 6,003
Cross Creek .................. 9.6200% 2,264
Knoxville .................... 8.7000% 7,869
Omaha ........................ 8.7000% 9,739
Overland Park ................ 8.7000% 8,401
Las Palmas ................... 8.8750% 5,008
Galleria ..................... 9.0000% 4,871
Luria Plaza .................. 9.0000% 2,849
Crossroads at Middlebury ..... 8.6250% 5,382
Lansbury Village Apts ........ 8.1250% 4,608
Grove Park ................... 8.5000% 4,619
Redmond East ................. 8.3750% 23,507
Strathmore S/C ............... 8.7500% 4,340
Edmond Plaza ................. 8.3750% 3,661
------ -----
181,257
=======
Page - 19
<PAGE>
Prepayments Prepayment
Property Name /Liquidations Date
Dobbin Square ................ 0
42 West 48th Street .......... 0
Vista Hills .................. 0
Plymouth Park ................ 0
Peach Festival ............... 0
Goethals Park ................ 0
West Harbor .................. 0
Heritage Village ............. 0
Pelican Point ................ 0
Ashley Woods ................. 0
West 109th Street ............ 0
Emerald Bay .................. 0
West 14th Street ............. 0
Ranch Park ................... 0
Timber Ridge ................. 0
Windy Ridge .................. 0
English Oaks ................. 0
Northlake I .................. 0
Northlake II ................. 0
Brookgreen/Lantana ........... 0
Kings Bridge ................. 0
Beaumonde .................... 0
Raritan Mall ................. 0
Manzanita Plaza .............. 0
Benchmark Crossing ........... 0
Northmoor Apartments ......... 0
Colonial Oaks ................ 0
Continental .................. 0
Atlanta ...................... 0
Wichita ...................... 0
Cross Creek .................. 0
Knoxville .................... 0
Omaha ........................ 0
Overland Park ................ 0
Las Palmas ................... 0
Galleria ..................... 0
Luria Plaza .................. 0
Crossroads at Middlebury ..... 0
Lansbury Village Apts ........ 0
Grove Park ................... 0
Redmond East ................. 0
Strathmore S/C ............... 0
Edmond Plaza ................. 0
-
0
=
Page - 20
<PAGE>
Paid Prepayment
Through Premium
Property Name Date Amount
Dobbin Square ................ 04/01/96 0
42 West 48th Street .......... 04/01/96 0
Vista Hills .................. 04/01/96 0
Plymouth Park ................ 04/01/96 0
Peach Festival ............... 04/01/96 0
Goethals Park ................ 04/01/96 0
West Harbor .................. 04/01/96 0
Heritage Village ............. 04/01/96 0
Pelican Point ................ 04/01/96 0
Ashley Woods ................. 04/01/96 0
West 109th Street ............ 04/01/96 0
Emerald Bay .................. 03/01/96 0
West 14th Street ............. 04/01/96 0
Ranch Park ................... 04/01/96 0
Timber Ridge ................. 04/01/96 0
Windy Ridge .................. 04/01/96 0
English Oaks ................. 04/01/96 0
Northlake I .................. 04/01/96 0
Northlake II ................. 04/01/96 0
Brookgreen/Lantana ........... 04/01/96 0
Kings Bridge ................. 04/01/96 0
Beaumonde .................... 04/01/96 0
Raritan Mall ................. 03/01/96 0
Manzanita Plaza .............. 04/01/96 0
Benchmark Crossing ........... 04/01/96 0
Northmoor Apartments ......... 04/01/96 0
Colonial Oaks ................ 04/01/96 0
Continental .................. 04/01/96 0
Atlanta ...................... 04/01/96 0
Wichita ...................... 04/01/96 0
Cross Creek .................. 04/01/96 0
Knoxville .................... 04/01/96 0
Omaha ........................ 04/01/96 0
Overland Park ................ 04/01/96 0
Las Palmas ................... 04/01/96 0
Galleria ..................... 04/01/96 0
Luria Plaza .................. 04/01/96 0
Crossroads at Middlebury ..... 04/01/96 0
Lansbury Village Apts ........ 04/01/96 0
Grove Park ................... 04/01/96 0
Redmond East ................. 04/01/96 0
Strathmore S/C ............... 04/01/96 0
Edmond Plaza ................. 04/01/96 0
-- -- -- -
0
=
Page - 21
<PAGE>
<TABLE>
<CAPTION>
Loan
Status
Property Name Code (1)
<S> <C>
Dobbin Square ................
42 West 48th Street ..........
Vista Hills ..................
Plymouth Park ................
Peach Festival ...............
Goethals Park ................
West Harbor ..................
Heritage Village .............
Pelican Point ................
Ashley Woods .................
West 109th Street ............
Emerald Bay ..................
West 14th Street .............
Ranch Park ...................
Timber Ridge .................
Windy Ridge ..................
English Oaks .................
Northlake I ..................
Northlake II .................
Brookgreen/Lantana ...........
Kings Bridge .................
Beaumonde ....................
Raritan Mall .................
Manzanita Plaza ..............
Benchmark Crossing ...........
Northmoor Apartments .........
Colonial Oaks ................
Continental ..................
Atlanta ......................
Wichita ......................
Cross Creek ..................
Knoxville ....................
Omaha ........................
Overland Park ................
Las Palmas ...................
Galleria .....................
Luria Plaza ..................
Crossroads at Middlebury .....
Lansbury Village Apts ........
Grove Park ...................
Redmond East .................
Strathmore S/C ...............
Edmond Plaza .................
<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 - 22
<PAGE>
SPECIALLY SERVICED LOAN DETAIL
No Specially Serviced Loan Detail as of the current due date
Offering Sched Sched
Distribution Circular Principal Interest
Date Control # Balance Rate
SPECIALLY SERVICED LOAN DETAIL
No Specially Serviced Loan Detail as of the current due date
Distribution Maturity Property
Date Date Type State
SPECIALLY SERVICED LOAN DETAIL
No Specially Serviced Loan Detail as of the current due date
Distribution Date of last Net Operating Debt Service
Date Operating Stmt Income Coverage Ratio
SPECIALLY SERVICED LOAN DETAIL
No Specially Serviced Loan Detail as of the current due date
Specially
Distribution Serviced
Date Status Code (1)
(1) Legend:
1) Request for waiver of Prepayment Penalty
2) Payment default
3) Request for Loan Modification or Workout
4) Loans with Borrower Bankruptcy
5) Loans in Process of Foreclosure
6) Loans now REO Property
7) Loans Paid Off
8) Loans Returned to Master Servicer
MODIFIED LOAN DETAIL
No Modified Loan Detail as of the current due date
Offering
Distribution Circular Modification
Date Control # Date
REALIZED LOSS DETAIL
No Realized Loss Detail as of the current due date
Offering
Distribution Circular Appraisal Appraisal Value/
Date Control # Date Brokers Estimate
Current Total
Cumulative
REALIZED LOSS DETAIL
No Realized Loss Detail as of the current due date
Offering Sched
Distribution Circular Principal Gross
Date Control # Balance Proceeds
Current Total
Cumulative
Page - 23
<PAGE>
<TABLE>
REALIZED LOSS DETAIL
No Realized Loss Detail as of the current due date
<CAPTION>
Offering Gross Proceeds Aggregate
Distribution Circular as a % of Liquidation
Date Control # Sched Principal Expenses (1)
<S> <C> <C> <C>
Current Total
Cumulative
<FN>
(1) Aggregate liquidation expenses also include outstanding P&I advances and
unpaid servicing fees, unpaid special servicing fees unpaid trustee fees, etc..
</FN>
</TABLE>
REALIZED LOSS DETAIL
No Realized Loss Detail as of the current due date
Offering Net Net Proceeds
Distribution Circular Liquidation as a % of
Date Control # Proceeds Sched. Balance
Current Total
Cumulative
REALIZED LOSS DETAIL
No Realized Loss Detail as of the current due date
Offering Current
Distribution Circular Realized
Date Control # Loss
Current Total
Cumulative
Page - 24
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
01 1,856,657 0 74.3% 1.56 N/A PERFORMING PERFORM TO MATURITY
02 594,130 0 74.3% 1.14 N/A PERFORMING PERFORM TO MATURITY
03 482,731 0 74.3% 1.52 N/A PERFORMING PERFORM TO MATURITY
04 1,258,774 0 73.0% 1.39 N/A PERFORMING PERFORM TO MATURITY
05 5,250,236 0 70.0% 1.45 N/A PERFORMING PERFORM TO MATURITY
06 1,795,248 0 63.4% 1.16 N/A PERFORMING PERFORM TO MATURITY
07 909,597 0 59.6% 1.79 N/A PERFORMING PERFORM TO MATURITY
08 1,341,206 0 72.5% 1.35 N/A PERFORMING PERFORM TO MATURITY
09 1,843,593 0 68.3% 1.45 N/A PERFORMING PERFORM TO MATURITY
10 1,129,944 0 53.8% 1.56 N/A PERFORMING PERFORM TO MATURITY
11 11,738,854 0 73.1% 1.23 N/A PERFORMING PERFORM TO MATURITY
12 4,422,231 0 64.6% 1.34 N/A PERFORMING PERFORM TO MATURITY
13 1,491,070 0 60.9% 1.35 N/A PERFORMING PERFORM TO MATURITY
14 894,917 0 68.8% 1.13 N/A PERFORMING PERFORM TO MATURITY
20 2,531,552 0 56.3% 1.51 N/A PERFORMING PERFORM TO MATURITY
21 3,710,427 0 50.8% 1.65 N/A PERFORMING PERFORM TO MATURITY
22 6,949,543 0 68.8% 1.38 N/A PERFORMING PERFORM TO MATURITY
23 6,932,220 0 64.8% 1.44 N/A PERFORMING PERFORM TO MATURITY
24 6,646,318 0 69.2% 1.28 N/A PERFORMING PERFORM TO MATURITY
25 5,411,305 0 51.5% 1.48 N/A PERFORMING PERFORM TO MATURITY
26 11,601,217 0 66.0% 1.26 N/A PERFORMING PERFORM TO MATURITY
27 4,591,807 0 74.7% 1.40 N/A PERFORMING PERFORM TO MATURITY
28 3,773,281 0 66.2% 1.39 N/A PERFORMING PERFORM TO MATURITY
29 4,927,644 0 71.4% 1.32 N/A PERFORMING PERFORM TO MATURITY
30 4,855,136 0 72.5% 1.34 N/A PERFORMING PERFORM TO MATURITY
31 3,396,106 0 74.6% 1.34 N/A PERFORMING PERFORM TO MATURITY
32 2,576,066 0 59.6% 1.58 N/A PERFORMING PERFORM TO MATURITY
33 5,982,607 0 69.6% 1.72 N/A PERFORMING PERFORM TO MATURITY
34 5,160,494 0 64.5% 1.73 N/A PERFORMING PERFORM TO MATURITY
35 4,833,630 0 66.2% 1.72 N/A PERFORMING PERFORM TO MATURITY
36 4,823,725 0 57.4% 1.74 N/A PERFORMING PERFORM TO MATURITY
37 5,276,006 0 60.0% 1.47 N/A PERFORMING PERFORM TO MATURITY
38 5,270,499 0 73.2% 1.62 N/A PERFORMING PERFORM TO MATURITY
42 8,007,748 0 68.4% 1.25 N/A PERFORMING PERFORM TO MATURITY
43 7,363,976 0 73.3% 1.12 N/A PERFORMING PERFORM TO MATURITY
47 3,364,568 0 44.9% 2.82 N/A PERFORMING PERFORM TO MATURITY
48 28,229,968 0 64.9% 1.43 N/A PERFORMING PERFORM TO MATURITY
49 5,088,731 0 65.2% 1.37 N/A PERFORMING PERFORM TO MATURITY
50 3,639,094 0 72.1% 1.45 N/A PERFORMING PERFORM TO MATURITY
51 4,686,241 0 66.0% 1.42 N/A PERFORMING PERFORM TO MATURITY
52 5,528,700 0 72.3% 1.49 N/A PERFORMING PERFORM TO MATURITY
53 6,936,269 0 74.0% 1.29 N/A PERFORMING PERFORM TO MATURITY
54 4,587,075 0 70.0% 1.41 N/A PERFORMING PERFORM TO MATURITY
- -- --------- - ---- ----
TOTAL 211,691,140
===========
</TABLE>
Page - 25
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
REMAIN
CURRENT ORIG LOAN INT
ASSET PRINCIPAL NOTE LOAN AMORT TERM IN INT RATE
NO BALANCE DATE DATE MONTHS RATE TYPE PAYMENT
<S> <C> <C> <C> <C> <C> <C> <C>
01 1,856,657 7/27/94 8/1/2024 63 9.900% F 16,316
02 594,130 7/27/94 8/1/2024 63 9.900% F 5,221
03 482,731 7/27/94 8/1/2024 63 9.900% F 4,242
04 1,258,774 10/14/94 11/1/2019 66 10.450% F 11,993
05 5,250,236 7/5/94 8/1/2024 64 10.100% F 46,903
06 1,795,248 7/22/94 8/1/2019 63 10.010% F 16,597
07 909,597 10/28/94 11/1/2015 67 11.160% F 9,124
08 1,341,206 11/30/94 12/1/2024 67 10.700% F 12,551
09 1,843,593 9/16/94 10/1/2024 65 9.850% F 16,117
10 1,129,944 9/16/94 10/1/2024 65 9.850% F 9,878
11 11,738,854 8/15/94 9/1/2024 64 9.550% F 100,074
12 4,422,231 10/17/94 11/1/2024 102 9.750% F 38,318
13 1,491,070 1/27/95 2/1/2025 105 10.450% F 13,665
14 894,917 1/17/95 2/1/2025 105 10.700% F 8,368
20 2,531,552 7/1/94 8/1/2019 39 10.125% F 23,626
21 3,710,427 9/23/94 10/1/2014 41 10.625% F 38,258
22 6,949,543 12/1/94 12/1/2023 67 10.750% F 65,655
23 6,932,220 12/2/94 1/1/2025 44 11.000% F 66,396
24 6,646,318 1/31/95 2/1/2022 69 10.625% F 62,942
25 5,411,305 2/17/95 3/1/2015 46 10.875% F 56,303
26 11,601,217 6/20/95 7/1/2020 26 8.875% F 97,186
27 4,591,807 7/27/95 8/1/2025 75 9.000% F 37,113
28 3,773,281 7/31/95 8/1/2020 111 9.250% F 32,543
29 4,927,644 8/22/95 9/1/2020 76 8.870% F 41,183
30 4,855,136 8/30/95 9/1/2025 112 8.800% F 38,526
31 3,396,106 8/30/95 9/1/2025 112 8.800% F 26,948
32 2,576,066 4/18/95 5/1/2020 72 9.620% F 22,933
33 5,982,607 9/14/95 10/1/2015 113 8.700% F 53,184
34 5,160,494 9/14/95 10/1/2015 113 8.700% F 45,875
35 4,833,630 9/14/95 10/1/2015 113 8.700% F 42,970
36 4,823,725 9/14/95 10/1/2015 113 8.700% F 42,881
37 5,276,006 10/3/95 11/1/2020 114 9.000% F 44,477
38 5,270,499 9/29/95 10/1/2020 77 8.875% F 44,025
42 8,007,748 11/9/94 12/1/2024 67 9.850% F 69,931
43 7,363,976 11/14/94 12/1/2024 67 9.350% F 61,647
47 3,364,568 9/14/95 10/1/2015 113 7.950% F 28,333
48 28,229,968 12/19/95 1/1/2023 116 8.375% F 220,692
49 5,088,731 11/8/95 12/1/2025 115 9.000% F 41,036
50 3,639,094 12/28/95 1/1/2021 116 8.375% F 29,084
51 4,686,241 12/12/95 1/1/2021 80 8.500% F 37,846
52 5,528,700 11/27/95 12/1/2020 79 8.625% F 45,159
53 6,936,269 12/12/95 1/1/2016 116 8.125% F 51,604
54 4,587,075 12/20/95 1/1/2021 116 8.750% F 37,819
- -- --------- -- -- -- - - ---- --- ----- ------
TOTAL 211,691,140
===========
</TABLE>
Page - 26
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
AST 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 MULTI-FAMILY LUBBOCK TX 79414 1976 142 108,648 2,500,000 6/17/94 PROSPECTUS
02 1 MULTI-FAMILY LUBBOCK TX 79423 1979 52 36,392 800,000 6/21/94 PROSPECTUS
03 1 MULTI-FAMILY LUBBOCK TX 79414 1973 42 36,470 650,000 6/21/94 PROSPECTUS
04 1 MULTI-FAMILY HOUSTON TX 77055 1969 181 180,849 1,725,000 9/15/94 PROSPECTUS
05 1 MULTI-FAMILY TEMPLE TERRACE FL 33617 1967 252 267,140 7,500,000 6/10/93 PROSPECTUS
06 1 MULTI-FAMILY HOUSTON TX 77081 1974 156 144,645 2,830,000 5/17/94 PROSPECTUS
07 1 OTHER NEW YORK NY 10025 1910 81 69,550 1,525,000 9/6/94 PROSPECTUS
08 1 MULTI-FAMILY HAMMOND LA 70403 1986 64 56,352 1,850,000 9/1/94 PROSPECTUS
09 1 MULTI-FAMILY TUCKER GA 30084 1970 96 125,200 2,700,000 8/10/94 PROSPECTUS
10 1 MULTI-FAMILY TUCKER GA 30084 1970 78 90,600 2,100,000 8/10/94 PROSPECTUS
11 1 MULTI-FAMILY LAS VEGAS NV 89104 1989 337 281,502 16,055,000 8/1/94 PROSPECTUS
12 1 MULTI-FAMILY MACON GA 31210 1986 191 148,640 6,850,000 6/23/94 PROSPECTUS
13 1 MULTI-FAMILY MACON GA 31210 1984 96 67,488 2,450,000 12/29/94 PROSPECTUS
14 1 MULTI-FAMILY NEW YORK NY 10023 1969 19 9,519 1,300,000 11/1/94 PROSPECTUS
20 1 RETAIL COLUMBIA MD 21045 1979 9 25,114 4,500,000 6/1/94 PROSPECTUS
21 1 OFFICE NEW YORK NY 10036 1929 NA 56,872 7,300,000 9/8/94 PROSPECTUS
22 1 RETAIL EL PASO TX 0 1979 NA 211,116 10,100,000 11/2/94 PROSPECTUS
23 1 RETAIL IRVING TX 75061 1952 NA 662,980 10,700,000 11/21/94 MAI APPRAISAL
24 1 RETAIL BYRON GA 0 1988 NA 108,399 9,600,000 12/26/94 PROSPECTUS
25 1 INDUSTRIAL LINDEN NJ 07036 1910 NA 523,374 10,500,000 1/12/95 PROSPECTUS
26 1 RETAIL RARITAN NJ 08869 1987 21 117,000 17,475,000 3/1/95 PROSPECTUS
27 1 RETAIL TUCSON AZ 85746 1982 NA 109,327 6,150,000 6/14/95 PROSPECTUS
28 1 RETAIL HOUSTON TX 77040 1986 5 58,384 5,700,000 6/15/95 PROSPECTUS
29 1 MULTI-FAMILY ATLANTA GA 30324 1948 176 232,300 6,900,000 5/10/95 PROSPECTUS
30 1 MULTI-FAMILY MARIETTA GA 30067 1973 200 208,844 6,700,000 5/10/95 PROSPECTUS
31 1 MULTI-FAMILY GREENVILLE SC 29615 1967 159 131,838 4,550,000 5/12/95 PROSPECTUS
32 1 MULTI-FAMILY ALBANY GA 31707 1970 200 197,048 4,320,000 2/22/95 PROSPECTUS
33 1 LODGING OMAHA NE 68154 1991 137 142,659 8,600,000 6/1/95 PROSPECTUS
34 1 LODGING OVERLAND PARK KS 66212 1988 143 166,399 8,000,000 6/1/95 PROSPECTUS
35 1 LODGING KNOXVILLE TN 37922 1989 137 164,145 7,300,000 6/1/95 PROSPECTUS
36 1 LODGING ATLANTA GA 30093 1987 147 85,150 8,400,000 6/1/95 PROSPECTUS
37 1 MIXED USE RED BANK NJ 07701 1905 NA 104,584 8,800,000 7/20/95 PROSPECTUS
38 1 RETAIL SAN ANTONIO TX 78207 1955 34 225,952 7,200,000 6/15/95 PROSPECTUS
42 1 MULTI-FAMILY ROSWELL GA 30076 1973 312 382,591 11,700,000 7/18/94 PROSPECTUS
43 1 MULTI-FAMILY CLEARWATER FL 34619 1974 188 342,068 5,125,500 7/14/94 PROSPECTUS
43 2 MULTI-FAMILY CLEARWATER FL 34619 1974 184 NA 4,924,500 7/14/94 PROSPECTUS
47 1 LODGING WICHITA KS 67207 1985 120 64,390 7,500,000 6/1/95 PROSPECTUS
48 1 OFFICE REDMOND WA 98052 1988 NA 395,034 43,500,000 1/13/95 PROSPECTUS
49 1 RETAIL PEMBROKE PINES FL 33025 1986 35 81,355 7,800,000 9/1/95 PROSPECTUS
50 1 RETAIL EDMOND OK 73013 1966 NA 102,658 5,050,000 9/1/95 PROSPECTUS
51 1 RETAIL LAKELAND FL 33802 1960 NA 149,294 7,100,000 10/17/95 PROSPECTUS
52 1 OFFICE MIDDLEBURY CT 06762 1988 19 71,905 7,650,000 8/19/95 PROSPECTUS
53 1 MULTI-FAMILY ATLANTA GA 30341 1973 164 229,890 9,375,000 7/12/95 PROSPECTUS
54 1 RETAIL ABRDEEN NJ 07747 1960 NA 63,148 6,550,000 5/12/95 PROSPECTUS
</TABLE>
Page - 27
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 29-MAY-96
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 305,761 2/1/96 PROSPECTUS 94.0% 12/31/95
02 1 71,473 2/1/96 PROSPECTUS 95.0% 7/1/95
03 1 77,495 2/1/96 PROSPECTUS 92.0% 12/31/95
04 1 200,559 2/1/96 PROSPECTUS 90.0% 6/1/95
05 1 815,244 2/1/96 PROSPECTUS 95.0% 12/31/95
06 1 231,771 2/1/96 PROSPECTUS 95.0% 1/31/96
07 1 195,499 2/1/96 PROSPECTUS 100.0% 6/22/95
08 1 202,854 2/1/96 PROSPECTUS 100.0% 2/1/96
09 1 280,393 2/1/96 PROSPECTUS 96.9% 12/25/95
10 1 184,953 2/1/96 PROSPECTUS 97.4% 12/25/95
11 1 1,476,500 2/1/96 PROSPECTUS 98.0% 12/31/95
12 1 617,479 2/1/96 PROSPECTUS 98.4% 1/10/96
13 1 222,160 2/1/96 PROSPECTUS 97.9% 1/9/96
14 1 113,438 2/1/96 PROSPECTUS 100.0% 8/1/95
20 1 427,529 2/1/96 PROSPECTUS 100.0% 12/31/95
21 1 755,853 2/1/96 PROSPECTUS 96.0% 11/1/95
22 1 1,084,084 2/1/96 PROSPECTUS 99.0% 8/1/95
23 1 1,144,792 2/1/96 PROSPECTUS 87.0% 3/13/96
24 1 965,176 2/1/96 PROSPECTUS 91.0% 1/17/96
25 1 999,143 2/1/96 PROSPECTUS 97.0% 8/1/95
26 1 1,464,921 2/1/96 PROSPECTUS 87.0% 6/1/95
27 1 622,165 2/1/96 PROSPECTUS 100.0% 9/1/95
28 1 543,432 2/1/96 PROSPECTUS 100.0% 8/1/95
29 1 651,940 2/1/96 PROSPECTUS 93.0% 8/1/95
30 1 619,737 2/1/96 PROSPECTUS 91.0% 7/1/95
31 1 434,456 2/1/96 PROSPECTUS 92.0% 8/1/95
32 1 433,738 2/1/96 PROSPECTUS 91.0% 7/1/95
33 1 1,097,678 2/1/96 PROSPECTUS 72.5% 12/31/95
34 1 950,754 2/1/96 PROSPECTUS 72.5% 12/31/95
35 1 886,348 2/1/96 PROSPECTUS 65.0% 12/31/95
36 1 895,170 2/1/96 PROSPECTUS 69.6% 12/31/95
37 1 782,209 2/1/96 PROSPECTUS 90.1% 11/1/95
38 1 854,368 2/1/96 PROSPECTUS 92.0% 8/1/95
42 1 1,051,766 2/1/96 PROSPECTUS 91.0% 12/25/95
43 1 423,040 2/1/96 PROSPECTUS 81.0% 9/25/95
43 2 403,800 2/1/96 PROSPECTUS 81.0% 9/30/95
47 1 960,284 2/1/96 PROSPECTUS 72.2% 12/31/95
48 1 3,793,850 2/1/96 PROSPECTUS 96.0% 12/1/95
49 1 677,084 2/1/96 PROSPECTUS 98.0% 12/31/95
50 1 507,576 2/1/96 PROSPECTUS 92.0% 1/1/96
51 1 644,310 2/1/96 PROSPECTUS 89.0% 12/31/95
52 1 807,669 2/1/96 PROSPECTUS 100.0% 1/1/96
53 1 796,130 2/1/96 PROSPECTUS 94.5% 2/6/96
54 1 640,361 2/1/96 PROSPECTUS 100.0% 4/1/96
</TABLE>
Page - 28
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 29-MAY-96
LOAN 01 - 1:
LOAN 02 - 1:
LOAN 03 - 1:
LOAN 04 - 1:
LOAN 05 - 1: Status Comment: Borrower requested change in property
management company. Case in process.
LOAN 06 - 1:
LOAN 07 - 1:
LOAN 08 - 1:
LOAN 09 - 1:
LOAN 10 - 1:
LOAN 11 - 1:
LOAN 12 - 1:
LOAN 13 - 1:
LOAN 14 - 1:
LOAN 20 - 1:
LOAN 21 - 1:
LOAN 22 - 1:
LOAN 23 - 1: Status Comment: Assumption in progress.
LOAN 24 - 1:
LOAN 25 - 1:
LOAN 26 - 1:
LOAN 27 - 1:
LOAN 28 - 1: Status Comment: Assumption in progress.
LOAN 29 - 1:
LOAN 30 - 1:
LOAN 31 - 1:
LOAN 32 - 1:
LOAN 33 - 1:
LOAN 34 - 1:
LOAN 35 - 1:
LOAN 36 - 1:
LOAN 37 - 1:
LOAN 38 - 1:
LOAN 42 - 1:
LOAN 43 - 2:
LOAN 43 - 1:
LOAN 47 - 1:
LOAN 48 - 1:
Page - 29
<PAGE>
LOAN 49 - 1:
LOAN 50 - 1:
LOAN 51 - 1:
LOAN 52 - 1:
LOAN 53 - 1:
LOAN 54 - 1:
Page - 30
