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) July 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 July 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 July 22,
1996.
Loan data file as of the July 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
/s/ Lawrence D. Ashley
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: July 22, 1996
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 3
dated as of July 22, 1996
Loan data file as of July 1996 17
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Brian Ames (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
Statement Date: 07/22/96
Payment Date: 07/22/96
Prior Payment 06/20/96
Record Date: 06/28/96
WAC: 9.256890%
WAMM: 83
<TABLE>
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
REMIC III
<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 .............. 50,000,000.00 49,272,197.24 185,421.37
79548KQD3 ........ 1000.000000 985.443945 3.708427
A-2 .............. 81,468,000.00 81,468,000.00 0.00
79548KQH4 ........ 1000.000000 1000.000000 0.000000
IO ............... 170,696,000.00 N 169,968,197.24 0.00
79548S9K9 ........ 1000.000000 995.736264 0.000000
B ................ 14,843,000.00 14,843,000.00 0.00
79548KQE1 ........ 1000.000000 1000.000000 0.000000
C ................ 14,843,000.00 14,843,000.00 0.00
79548KQF8 ........ 1000.000000 1000.000000 0.000000
D ................ 9,542,000.00 9,542,000.00 0.00
79548KQG6 ........ 1000.000000 1000.000000 0.000000
E ................ 21,204,000.00 21,204,000.00 0.00
79548S9F0 ........ 1000.000000 1000.000000 0.000000
F ................ 11,132,000.00 11,132,000.00 0.00
79548S9G8 ........ 1000.000000 1000.000000 0.000000
G ................ 9,013,633.94 8,647,972.76 92,349.14
79548S9H6 ........ 1000.000000 959.432435 10.245495
R-III ............ 0.00 0.00 0.00
9ABSM691 ......... 1000.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
212,045,633.94 210,952,170.00 277,770.51
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
Page - 3
<PAGE>
</TABLE>
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
REMIC III, Continued
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 49,086,775.87
79548KQD3 ........ 0.000000 0.000000 981.735517
A-2 .............. 0.00 0.00 81,468,000.00
79548KQH4 ........ 0.000000 0.000000 1000.000000
IO ............... 0.00 0.00 169,782,775.87
79548S9K9 ........ 0.000000 0.000000 994.649997
B ................ 0.00 0.00 14,843,000.00
79548KQE1 ........ 0.000000 0.000000 1000.000000
C ................ 0.00 0.00 14,843,000.00
79548KQF8 ........ 0.000000 0.000000 1000.000000
D ................ 0.00 0.00 9,542,000.00
79548KQG6 ........ 0.000000 0.000000 1000.000000
E ................ 0.00 0.00 21,204,000.00
79548S9F0 ........ 0.000000 0.000000 1000.000000
F ................ 0.00 0.00 11,132,000.00
79548S9G8 ........ 0.000000 0.000000 1000.000000
G ................ 0.00 0.00 8,555,623.62
79548S9H6 ........ 0.000000 0.000000 949.186940
R-III ............ 0.00 0.00 0.00
9ABSM691 ......... 0.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
0.00 0.00 210,674,399.49
================ ================ ================
<TABLE>
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
REMIC III, Continued
<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 .............. 265,618.20 0.00 6.469000%
79548KQD3 ........ 5.312364 0.000000 Fixed
A-2 .............. 460,314.57 0.00 6.780300%
79548KQH4 ........ 5.650250 0.000000 Fixed
IO ............... 245,317.60 0.00 1.731978%
79548S9K9 ........ 1.437161 0.000000 1.733357%
B ................ 88,151.34 0.00 7.126700%
79548KQE1 ........ 5.938917 0.000000 Fixed
C ................ 90,308.52 0.00 7.301100%
79548KQF8 ........ 6.084250 0.000000 Fixed
D ................ 61,617.47 0.00 7.749000%
79548KQG6 ........ 6.457501 0.000000 Fixed
E ................ 162,288.35 0.00 9.184400%
79548S9F0 ........ 7.653667 0.000000 9.184500%
F ................ 85,200.62 0.00 9.184400%
79548S9G8 ........ 7.653667 0.000000 9.184500%
G ................ 66,188.70 0.00 9.184400%
79548S9H6 ........ 7.343176 0.000000 9.184500%
R-III ............ 0.00 0.00 None
9ABSM691 ......... 0.000000 0.000000 0.000000%
- ------------------ ---------------- ---------------- ----------------
1,525,005.37 0.00 0.000000%
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 4
<PAGE>
<TABLE>
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
REMIC II
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
U ................ 50,000,000.00 49,272,197.24 185,421.37
None ............. 1000.000000 985.443945 3.708427
V ................ 81,468,000.00 81,468,000.00 0.00
None ............. 1000.000000 1000.000000 0.000000
W ................ 14,843,000.00 14,843,000.00 0.00
None ............. 1000.000000 1000.000000 0.000000
X ................ 14,843,000.00 14,843,000.00 0.00
None ............. 1000.000000 1000.000000 0.000000
Y ................ 9,542,000.00 9,542,000.00 0.00
None ............. 1000.000000 1000.000000 0.000000
Z ................ 41,349,633.94 40,983,972.76 92,349.14
None ............. 1000.000000 991.156846 2.233373
R-II ............. 0.00 0.00 0.00
9ABSM690 ......... 1000.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
212,045,633.94 210,952,170.00 277,770.51
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
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
REMIC II, Continued
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
U ................ 0.00 0.00 49,086,775.87
None ............. 0.000000 0.000000 981.735517
V ................ 0.00 0.00 81,468,000.00
None ............. 0.000000 0.000000 1000.000000
W ................ 0.00 0.00 14,843,000.00
None ............. 0.000000 0.000000 1000.000000
X ................ 0.00 0.00 14,843,000.00
None ............. 0.000000 0.000000 1000.000000
Y ................ 0.00 0.00 9,542,000.00
None ............. 0.000000 0.000000 1000.000000
Z ................ 0.00 0.00 40,891,623.62
None ............. 0.000000 0.000000 988.923473
R-II ............. 0.00 0.00 0.00
9ABSM690 ......... 0.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
0.00 0.00 210,674,399.49
================ ================ ================
Total P&I Payment 1,802,775.88
============
Page - 5
<PAGE>
<TABLE>
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
REMIC II, Continued
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
U ................ 287,560.75 0.00 None
None ............. 5.751215 0.000000 0.000000%
V ................ 623,528.92 0.00 None
None ............. 7.653667 0.000000 0.000000%
W ................ 113,603.37 0.00 None
None ............. 7.653666 0.000000 0.000000%
X ................ 113,603.37 0.00 None
None ............. 7.653666 0.000000 0.000000%
Y ................ 73,031.29 0.00 None
None ............. 7.653667 0.000000 0.000000%
Z ................ 313,677.67 0.00 None
None ............. 7.585984 0.000000 0.000000%
R-II ............. 0.00 0.00 None
9ABSM690 ......... 0.000000 0.000000 0.000000%
- ------------------ ---------------- ---------------- ----------------
1,525,005.37 0.00 0.000000%
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
<TABLE>
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
REMIC I
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
Regular .......... 212,045,633.94 211,317,831.18 185,421.37
None ............. 1000.000000 996.567707 0.874441
R-I .............. 0.00 0.00 0.00
9ABSM689 ......... 1000.000000 0.000000 0.000000
-------------- -------------- ----------
212,045,633.94 211,317,831.18 185,421.37
============== ============== ==========
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
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
REMIC I, Continued
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular .......... 0.00 0.00 211,132,409.81
None ............. 0.000000 0.000000 995.693266
R-I .............. 0.00 0.00 0.00
9ABSM689 ......... 0.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
0.00 0.00 211,132,409.81
================ ================ ================
Page - 6
<PAGE>
<TABLE>
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
REMIC I, Continued
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
Regular .......... 1,617,354.51 0.00 None
None ............. 7.627389 0.000000 0.000000%
R-I .............. 206,824.61 206,824.61 None
9ABSM689 ......... 0.000000 0.000000 0.000000%
- ------------------ ---------------- ---------------- ----------------
1,824,179.12 206,824.61 0.000000%
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
Available Distribution Amount 1,802,775.88
Prepayment Previous Loss Unpaid
Class Premiums Reimbursement Interest
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
==== ==== ====
PRINCIPAL DISTRIBUTION
Class Scheduled Unscheduled
A-1 ........... 185,421.37 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 92,349.14
---------------- ----------------
185,421.37 92,349.14
================ ================
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 12,767.12
Aggregate Special Servicing Compensation 0.00
Fees/ Premiums paid to Class R-I 206,824.61
Mortgage Stated Assigned
Pool Principal Asset
Balance Balance Value
211,132,409.81 211,132,409.81 211,132,409.81
Loan Remaining
Count Term WAC
43 83 9.25700802%
Page - 7
<PAGE>
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
07/22/96 ........ 0 0 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
06/20/96 ........ 0 0 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
05/20/96 ........ 0 0 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
04/22/96 ........ 0 0 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
03/20/96 ........ 0 0 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
<TABLE>
<CAPTION>
Distribution Foreclosure/Bankruptcy(1) REO (1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
07/22/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
06/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
05/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
04/22/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
03/20/96 ........ 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>
Distribution Modifications Prepayments
Date # Balance # Balance
07/22/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
06/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
05/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
04/22/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
03/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
Distribution Next Weighted Avg.
Date Coupon Remit
07/22/96 ...... 9.257008% 9.184508%
06/20/96 ...... 9.256890% 9.184390%
05/20/96 ...... 9.256773% 9.184273%
04/22/96 ...... 9.256656% 9.184156%
03/20/96 ...... 9.256540% 9.184040%
<TABLE>
DELINQUENCY LOAN DETAIL
<CAPTION>
Outstanding
Disclosure Paid Current Outstanding Property
Doc Thru P&I P&I Protection
Control # Period Date Advance Advances(1) Advances
<S> <C> <C> <C> <C> <C>
26 199607 06/01/96 96,486.89 96,486.89 0.00
6 199607 06/01/96 16,488.39 16,488.39 0.00
8 199607 06/01/96 12,470.33 12,470.33 0.00
- -- ------ -------- ---------- ---------- ----------
TOTALS: 125,445.61 125,445.61 0.00
========== ========== ==========
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
Page - 8
<PAGE>
<TABLE>
<CAPTION>
Special
Disclosure Servicer
Doc Advance Loan Transfer Foreclosure Bankruptcy REO
Control # Desc.(1) Status (2) Date Date Date Date
<S> <C> <C> <C> <C> <C> <C>
26 B -- 0 -- -- --
6 B -- 0 -- -- --
8 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>
DISTRIBUTION OF PRINCIPAL BALANCES
Current Scheduled Number Scheduled Based on
Principal Balances of Loans Prin. Balance Balance
$0 to $500,000 ............ 1 481,945 0.23%
$500,000 to $1,000,000 .... 3 2,394,492 1.13%
$1,000,000 to $1,500,000 .. 4 5,212,198 2.47%
$1,500,000 to $2,000,000 .. 3 5,484,596 2.60%
$2,000,000 to $2,500,000 .. 0 0 0.00%
$2,500,000 to $3,000,000 .. 2 5,093,860 2.41%
$3,000,000 to $3,500,000 .. 2 6,736,249 3.19%
$3,500,000 to $4,000,000 .. 3 11,084,856 5.25%
$4,000,000 to $4,500,000 .. 1 4,415,010 2.09%
$4,500,000 to $5,000,000 .. 7 33,198,845 15.72%
$5,000,000 to $5,500,000 .. 6 31,362,748 14.85%
$5,500,000 to $6,000,000 .. 2 11,465,284 5.43%
$6,000,000 to $6,500,000 .. 0 0 0.00%
$6,500,000 to $7,000,000 .. 4 27,419,028 12.99%
$7,000,000 to $7,500,000 .. 1 7,351,068 3.48%
$7,500,000 to $8,000,000 .. 1 7,995,041 3.79%
$8,000,000 to $8,500,000 .. 0 0 0.00%
$8,500,000 to $9,000,000 .. 0 0 0.00%
$9,000,000 to $9,500,000 .. 0 0 0.00%
$9,500,000 & above ........ 3 51,437,192 24.36%
- --------------------------- ------ ---------------- ----------
Total ..................... 43 211,132,410 100.00%
====== ================ ==========
Average Scheduled Balance is 4,910,056
Maximum Scheduled Balance is 28,158,459
Minimum Scheduled Balance is 481,945
Page - 9
<PAGE>
DISTRIBUTION OF PROPERTY TYPES
Number Scheduled Based on
Property Types of Loans Principal Balance Balance
MF Housing 21 72,929,218 34.54%
Retail ............. 12 66,144,145 31.33%
Office/Industrial .. 1 28,158,459 13.34%
Hospitality ........ 5 24,043,711 11.39%
Office/Retail ...... 2 10,773,493 5.10%
Industrial ......... 1 5,389,318 2.55%
Office ............. 1 3,694,067 1.75%
------ ---------------- ------
Total .............. 43 211,132,410 100.00%
====== ================ ======
GEOGRAPHIC DISTRIBUTION
Number Scheduled Based on
Geographic Location of Loans Principal Balance Balance
Georgia .......... 11 47,552,535 22.52%
Texas ............ 9 28,855,669 13.67%
Washington ....... 1 28,158,459 13.34%
New Jersey ....... 4 26,791,163 12.69%
Florida .......... 4 22,345,336 10.58%
Nevada ........... 1 11,711,927 5.55%
Kansas ........... 2 8,481,243 4.02%
Nebraska ......... 1 5,952,964 2.82%
Connecticut ...... 1 5,512,320 2.61%
New York ......... 3 5,495,395 2.60%
Tennessee ........ 1 4,809,680 2.28%
Arizona .......... 1 4,583,723 2.17%
Oklahoma ......... 1 3,627,959 1.72%
South Carolina ... 1 3,389,930 1.61%
Maryland ......... 1 2,524,695 1.20%
Louisiana ........ 1 1,339,414 0.63%
------ ---------------- ------
Total ............ 43 211,132,410 100.00%
====== ================ ======
<TABLE>
DISTRIBUTION OF MORTGAGE INTEREST RATES
<CAPTION>
Current Mortgage Number Scheduled Based on
Interest Rate (1) of Loans Principal Balance Balance
<S> <C> <C> <C>
8.500%or less ....... 5 46,727,180 22.13%
8.501%to 8.625% ..... 1 5,512,320 2.61%
8.626%to 8.750% ..... 5 25,271,258 11.97%
8.751%to 8.875% ..... 5 29,971,554 14.20%
8.876%to 9.000% ..... 3 14,924,951 7.07%
9.001%to 9.125% ..... 0 0 0.00%
9.126%to 9.250% ..... 1 3,762,830 1.78%
9.251%to 9.375% ..... 1 7,351,068 3.48%
9.376%to 9.500% ..... 0 0 0.00%
9.501%to 9.625% ..... 2 14,281,091 6.76%
9.626%to 9.750% ..... 1 4,415,010 2.09%
9.751%to 9.875% ..... 3 10,963,777 5.19%
9.876%to 10.000% .... 3 2,928,745 1.39%
10.001%to 10.125% ... 3 9,557,064 4.53%
10.126%& above ...... 10 35,465,563 16.80%
- --------------------- ------ ---------------- ------
Total ............... 43 211,132,410 100.00%
====== ================ ======
<FN>
(1) Weighted Average Mortgage Interest Rate is 9.2570%
Minimum Mortgage Interest Rate is 7.9500%
Maximum Mortgage Interest Rate is 11.1600%
</FN>
</TABLE>
Page - 10
<PAGE>
LOAN SEASONING
Number Scheduled Based on
Number of Years of Loans Principal Balance Balance
1 year or less ..... 20 126,170,092 59.76%
1+ to 2 years ...... 23 84,962,317 40.24%
2+ to 3 years ...... 0 0 0.00%
3+ to 4 years ...... 0 0 0.00%
4+ to 5 years ...... 0 0 0.00%
5+ to 6 years ...... 0 0 0.00%
6+ to 7 years ...... 0 0 0.00%
7+ to 8 years ...... 0 0 0.00%
8+ to 9 years ...... 0 0 0.00%
9+ to 10 years ..... 0 0 0.00%
10 years or more ... 0 0 0.00%
- -------------------- ------ ---------------- ------
Total .............. 43 211,132,410 100.00%
====== ================ ======
Weighted Average Seasoning is 1.0
DISTRIBUTION OF AMORTIZATION TYPE
Number Scheduled Based on
Amortization Type of Loans Principal Balance Balance
Amortizing Balloon .... 43 211,132,410 100.00%
------ ---------------- ------
Total ................. 43 211,132,410 100.00%
====== ================ ======
DISTRIBUTION OF REMAINING TERM
FULLY AMORTIZING
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Principal Balance Balance
60 months or less .. 0 0 0.00%
61 to 120 months ... 0 0 0.00%
121 to 180 months .. 0 0 0.00%
181 to 240 months .. 0 0 0.00%
241 to 360 months .. 0 0 0.00%
- -------------------- ------ ---------------- ------
Total .............. 0 0 0.00%
====== ================ ======
Weighted Average Months to Maturity is Na
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Balloon Number Scheduled Based on
Mortgage Loans of Loans Principal Balance Balance
12 months or less .. 0 0 0.00%
13 to 24 months .... 1 11,566,807 5.48%
25 to 36 months .... 0 0 0.00%
37 to 48 months .... 4 18,531,669 8.78%
49 to 60 months .... 0 0 0.00%
61 to 120 months ... 38 181,033,934 85.74%
121 to 180 months .. 0 0 0.00%
181 to 240 months .. 0 0 0.00%
- -------------------- ------ ---------------- ------
Total .............. 43 211,132,410 100.00%
====== ================ ======
Weighted Average Months to Maturity is 83
Page - 11
<PAGE>
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Number Scheduled Based on
Coverage Ratio (1) of Loans Principal Balance Balance
<S> <C> <C> <C>
1.000%or less .... 0 0 0.00%
1.001%to 1.125% .. 0 0 0.00%
1.126%to 1.250% .. 0 0 0.00%
1.251%to 1.375% .. 1 28,158,459 13.34%
1.376%to 1.500% .. 0 0 0.00%
1.501%to 1.625% .. 0 0 0.00%
1.626%to 1.750% .. 0 0 0.00%
1.751%to 1.875% .. 0 0 0.00%
1.876%to 2.000% .. 0 0 0.00%
2.001%to 2.125% .. 0 0 0.00%
2.126%to 2.250% .. 0 0 0.00%
2.251%to 2.375% .. 0 0 0.00%
2.376%to 2.500% .. 0 0 0.00%
2.501%to 2.625% .. 0 0 0.00%
2.626%& above .... 0 0 0.00%
Unknown .......... 42 182,973,951 86.66%
------ ---------------- ------
Total ............ 43 211,132,410 100.00%
====== ================ ======
<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 1,246,294
NOI AGING Scheduled
Number Principal Based on
NOI Date of Loans Balance Balance
1 year or less ... 42 182,973,951 86.66%
1+ to 2 years .... 1 28,158,459 13.34%
2+ & above ....... 0 0 0.00%
Unknown .......... 0 0 0.00%
------ ---------------- ------
Total ............ 43 211,132,410 100.00%
====== ================ ======
Page - 12
<PAGE>
<TABLE>
LOAN LEVEL DETAIL
<CAPTION>
Special
Servicer Neg
Transfer Maturity Am
Property Name Property Date State Date (Y/N)
<S> <C> <C> <C> <C> <C>
Dobbin Square ............. Retail MD 08/01/99 N
42 West 48th Street ....... Office NY 10/01/99 N
Vista Hills ............... Retail TX 12/01/2001 N
Plymouth Park ............. Retail TX 01/01/2000 N
Peach Festival ............ Retail GA 02/01/2002 N
Goethals Park ............. Industrial NJ 03/01/2000 N
West Harbor ............... MF Housing GA 11/01/2004 N
Heritage Village .......... MF Housing FL 09/01/2001 N
Pelican Point ............. MF Housing TX 08/01/2001 N
Ashley Woods .............. MF Housing GA 02/01/2005 N
West 109th Street ......... MF Housing NY 11/01/2001 N
Emerald Bay ............... MF Housing NV 09/01/2001 N
West 14th Street .......... MF Housing NY 02/01/2005 N
Ranch Park ................ MF Housing TX 08/01/2001 N
Timber Ridge .............. MF Housing TX 08/01/2001 N
Windy Ridge ............... MF Housing TX 08/01/2001 N
English Oaks .............. MF Housing TX 11/01/2001 N
Northlake I ............... MF Housing GA 10/01/2001 N
Northlake II .............. MF Housing GA 10/01/2001 N
Brookgreen/Lantana ........ MF Housing FL 12/01/2001 N
Kings Bridge .............. MF Housing GA 12/01/2001 N
Beaumonde ................. MF Housing LA 12/01/2001 N
Raritan Mall .............. Retail NJ 07/01/98 N
Manzanita Plaza ........... Retail AZ 08/01/2002 N
Benchmark Crossing ........ Retail TX 08/01/2005 N
Northmoor Apartments ...... MF Housing GA 09/01/2002 N
Colonial Oaks ............. MF Housing GA 09/01/2005 N
Continental ............... MF Housing SC 09/01/2005 N
Atlanta ................... Hospitality GA 10/01/2005 N
Wichita ................... Hospitality KS 10/01/2005 N
Cross Creek ............... MF Housing GA 05/01/2002 N
Knoxville ................. Hospitality TN 10/01/2005 N
Omaha ..................... Hospitality NE 10/01/2005 N
Overland Park ............. Hospitality KS 10/01/2005 N
Las Palmas ................ Retail TX 10/01/2002 N
Galleria .................. Office/Retail NJ 11/01/2005 N
Luria Plaza ............... Retail FL 12/01/2005 N
Crossroads at Middlebury .. Office/Retail CT 12/01/2002 N
Lansbury Village Apts ..... MF Housing GA 01/01/2006 N
Grove Park ................ Retail FL 01/01/2003 N
Redmond East .............. Office/Industrial WA 01/01/2006 N
Strathmore S/C ............ Retail NJ 01/01/2006 N
Edmond Plaza .............. Retail OK 01/01/2006 N
</TABLE>
Page - 13
<PAGE>
LOAN LEVEL DETAIL, Continued
Ending Scheduled
Scheduled Note Principal Prepayments
Property Name Balance Rate Payment Liquidations
Dobbin Square ............. 2,524,695 10.1250% 2,305 0
42 West 48th Street ....... 3,694,067 10.6250% 5,501 0
Vista Hills ............... 6,939,254 10.7500% 3,460 0
Plymouth Park ............. 6,923,589 11.0000% 2,903 0
Peach Festival ............ 6,633,928 10.6250% 4,167 0
Goethals Park ............. 5,389,318 10.8750% 7,396 0
West Harbor ............... 4,415,010 9.7500% 2,427 0
Heritage Village .......... 5,242,025 10.1000% 2,760 0
Pelican Point ............. 1,790,344 10.0100% 1,648 0
Ashley Woods .............. 1,489,011 10.4500% 692 0
West 109th Street ......... 907,586 11.1600% 677 0
Emerald Bay ............... 11,711,927 9.5500% 6,812 0
West 14th Street .......... 893,743 10.7000% 395 0
Ranch Park ................ 1,853,636 9.9000% 1,015 0
Timber Ridge .............. 593,164 9.9000% 325 0
Windy Ridge ............... 481,945 9.9000% 264 0
English Oaks .............. 1,255,654 10.4500% 1,049 0
Northlake I ............... 1,840,616 9.8500% 1,000 0
Northlake II .............. 1,128,120 9.8500% 613 0
Brookgreen/Lantana ........ 7,351,068 9.3500% 4,336 0
Kings Bridge .............. 7,995,041 9.8500% 4,270 0
Beaumonde ................. 1,339,414 10.7000% 603 0
Raritan Mall .............. 11,566,807 8.8750% 11,555 0
Manzanita Plaza ........... 4,583,723 9.0000% 2,715 0
Benchmark Crossing ........ 3,762,830 9.2500% 3,510 0
Northmoor Apartments ...... 4,913,258 8.8700% 4,831 0
Colonial Oaks ............. 4,846,307 8.8000% 2,965 0
Continental ............... 3,389,930 8.8000% 2,074 0
Atlanta ................... 4,799,824 8.7000% 8,025 0
Wichita ................... 3,346,319 7.9500% 6,123 0
Cross Creek ............... 2,569,165 9.6200% 2,319 0
Knoxville ................. 4,809,680 8.7000% 8,041 0
Omaha ..................... 5,952,964 8.7000% 9,952 0
Overland Park ............. 5,134,924 8.7000% 8,585 0
Las Palmas ................ 5,255,252 8.8750% 5,120 0
Galleria .................. 5,261,173 9.0000% 4,981 0
Luria Plaza ............... 5,080,055 9.0000% 2,913 0
Crossroads at Middlebury .. 5,512,320 8.6250% 5,499 0
Lansbury Village Apts ..... 6,922,257 8.1250% 4,702 0
Grove Park ................ 4,672,188 8.5000% 4,718 0
Redmond East .............. 28,158,459 8.3750% 24,002 0
Strathmore S/C ............ 4,573,866 8.7500% 4,435 0
Edmond Plaza .............. 3,627,959 8.3750% 3,738 0
----------- ------- ------- --
211,132,410 0.0000% 185,421 0
=========== ======= ======= ==
<TABLE>
Page - 14
<PAGE>
<CAPTION>
Paid Prepayment Loan
Prepayment Through Premium Status
Property Name Date Date Amount Code (1)
<S> <C> <C> <C> <C>
Dobbin Square ............. -- 07/01/96 -- 0
42 West 48th Street ....... -- 07/01/96 -- 0
Vista Hills ............... -- 07/01/96 -- 0
Plymouth Park ............. -- 07/01/96 -- 0
Peach Festival ............ -- 07/01/96 -- 0
Goethals Park ............. -- 07/01/96 -- 0
West Harbor ............... -- 07/01/96 -- 0
Heritage Village .......... -- 07/01/96 -- 0
Pelican Point ............. -- 06/01/96 -- 0
Ashley Woods .............. -- 07/01/96 -- 0
West 109th Street ......... -- 07/01/96 -- 0
Emerald Bay ............... -- 07/01/96 -- 0
West 14th Street .......... -- 07/01/96 -- 0
Ranch Park ................ -- 07/01/96 -- 0
Timber Ridge .............. -- 07/01/96 -- 0
Windy Ridge ............... -- 07/01/96 -- 0
English Oaks .............. -- 07/01/96 -- 0
Northlake I ............... -- 07/01/96 -- 0
Northlake II .............. -- 07/01/96 -- 0
Brookgreen/Lantana ........ -- 07/01/96 -- 0
Kings Bridge .............. -- 07/01/96 -- 0
Beaumonde ................. -- 06/01/96 -- 0
Raritan Mall .............. -- 06/01/96 -- 0
Manzanita Plaza ........... -- 07/01/96 -- 0
Benchmark Crossing ........ -- 07/01/96 -- 0
Northmoor Apartments ...... -- 07/01/96 -- 0
Colonial Oaks ............. -- 07/01/96 -- 0
Continental ............... -- 07/01/96 -- 0
Atlanta ................... -- 07/01/96 -- 0
Wichita ................... -- 07/01/96 -- 0
Cross Creek ............... -- 07/01/96 -- 0
Knoxville ................. -- 07/01/96 -- 0
Omaha ..................... -- 07/01/96 -- 0
Overland Park ............. -- 07/01/96 -- 0
Las Palmas ................ -- 07/01/96 -- 0
Galleria .................. -- 07/01/96 -- 0
Luria Plaza ............... -- 07/01/96 -- 0
Crossroads at Middlebury .. -- 07/01/96 -- 0
Lansbury Village Apts ..... -- 07/01/96 -- 0
Grove Park ................ -- 07/01/96 -- 0
Redmond East .............. -- 07/01/96 -- 0
Strathmore S/C ............ -- 07/01/96 -- 0
Edmond Plaza .............. -- 07/01/96 -- 0
<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 - 15
<PAGE>
SPECIALLY SERVICED LOAN DETAIL
No Specially Serviced Loan Detail as of the current due date
Offering Sched Sched
Distribution Circular Principal Interest Maturity Property
Date Control # Balance Rate Date Type
<TABLE>
<CAPTION>
Debt
Offering Date of last Net Service Specially
Distribution Circular Operating Operating Coverage Serviced
Date Control # State Statement Income Ratio Status Code(1)
<S> <C> <C> <C> <C> <C> <C>
<FN>
(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
</FN>
</TABLE>
MODIFIED LOAN DETAIL
No Modified Loan Detail as of the current due date
Offering
Distribution Circular Modification Modification
Date Control # Date Description
REALIZED LOSS DETAIL
No Realized Loss Detail as of the current due date
Offering Sched
Distribution Circular Appraisal Appraisal Value/ Principal
Date Control # Date Brokers Estimate Balance
Current Total
Cumulative
<TABLE>
<CAPTION>
Gross Proceeds Aggregate Net
Distribution Circular Gross as a % of Liquidation Liquidation
Date Control # Proceeds Sched Principal Expenses (1) Proceeds
<S> <C> <C> <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>
Net Proceeds Current
Distribution Circular as a % of Realized
Date Control # Sched. Balance Loss
Current Total
Cumulative
Page - 16
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: JULY, 1996
DATE PRINTED: 17-JUL-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 1,853,636 0 74.1% 1.72 N/A PERFORMING PERFORM TO MATURITY
02 593,164 0 74.1% 1.14 N/A PERFORMING PERFORM TO MATURITY
03 481,945 0 74.1% 1.74 N/A PERFORMING PERFORM TO MATURITY
04 1,255,654 0 72.8% 1.39 N/A PERFORMING PERFORM TO MATURITY
05 5,242,025 0 69.9% 1.44 N/A PERFORMING PERFORM TO MATURITY
06 1,791,992 0 63.3% 1.16 N/A PERFORMING PERFORM TO MATURITY
07 907,586 0 59.5% 1.79 N/A PERFORMING PERFORM TO MATURITY
08 1,340,016 0 72.4% 1.37 N/A PERFORMING PERFORM TO MATURITY
09 1,840,616 0 68.2% 1.45 N/A PERFORMING PERFORM TO MATURITY
10 1,128,120 0 53.7% 1.56 N/A PERFORMING PERFORM TO MATURITY
11 11,711,927 0 72.9% 1.23 N/A PERFORMING PERFORM TO MATURITY
12 4,415,010 0 64.5% 1.34 N/A PERFORMING PERFORM TO MATURITY
13 1,489,011 0 60.8% 1.35 N/A PERFORMING PERFORM TO MATURITY
14 893,743 0 68.7% 1.13 N/A PERFORMING PERFORM TO MATURITY
20 2,524,695 0 56.1% 1.51 N/A PERFORMING PERFORM TO MATURITY
21 3,694,067 0 50.6% 1.65 N/A PERFORMING PERFORM TO MATURITY
22 6,939,254 0 68.7% 1.38 N/A PERFORMING PERFORM TO MATURITY
23 6,923,589 0 64.7% 1.44 N/A PERFORMING PERFORM TO MATURITY
24 6,633,928 0 69.1% 1.28 N/A PERFORMING PERFORM TO MATURITY
25 5,389,318 0 51.3% 1.48 N/A PERFORMING PERFORM TO MATURITY
26 11,578,361 0 66.3% 1.26 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
27 4,583,723 0 74.5% 1.40 N/A PERFORMING PERFORM TO MATURITY
28 3,762,830 0 66.0% 1.39 N/A PERFORMING PERFORM TO MATURITY
29 4,913,258 0 71.2% 1.32 N/A PERFORMING PERFORM TO MATURITY
30 4,846,307 0 72.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
31 3,389,930 0 74.5% 1.34 N/A PERFORMING PERFORM TO MATURITY
32 2,569,165 0 59.5% 1.58 N/A PERFORMING PERFORM TO MATURITY
33 5,952,964 0 69.2% 1.72 N/A PERFORMING PERFORM TO MATURITY
34 5,134,924 0 64.2% 1.73 N/A PERFORMING PERFORM TO MATURITY
35 4,809,680 0 65.9% 1.72 N/A PERFORMING PERFORM TO MATURITY
36 4,799,824 0 57.1% 1.74 N/A PERFORMING PERFORM TO MATURITY
37 5,261,173 0 59.8% 1.47 N/A PERFORMING PERFORM TO MATURITY
38 5,255,252 0 73.0% 1.62 N/A PERFORMING PERFORM TO MATURITY
42 7,995,041 0 68.3% 1.25 N/A PERFORMING PERFORM TO MATURITY
43 7,351,068 0 73.1% 1.12 N/A PERFORMING PERFORM TO MATURITY
47 3,346,319 0 44.6% 2.82 N/A PERFORMING PERFORM TO MATURITY
48 28,158,459 0 64.7% 1.43 N/A PERFORMING PERFORM TO MATURITY
49 5,080,055 0 65.1% 1.37 N/A PERFORMING PERFORM TO MATURITY
50 3,627,959 0 71.8% 1.45 N/A PERFORMING PERFORM TO MATURITY
51 4,672,188 0 65.8% 1.42 N/A PERFORMING PERFORM TO MATURITY
52 5,512,320 0 72.1% 1.49 N/A PERFORMING PERFORM TO MATURITY
53 6,922,257 0 73.8% 1.29 N/A PERFORMING PERFORM TO MATURITY
54 4,573,866 0 69.8% 1.41 N/A PERFORMING PERFORM TO MATURITY
- -- ----------- ----- ---- ---- --- ---------------------- -------------------
TOT 211,146,216
===========
</TABLE>
Page - 17
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: JULY, 1996
DATE PRINTED: 17-JUL-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 1,853,636 7/27/94 8/1/2024 60 9.900% F 16,316
02 593,164 7/27/94 8/1/2024 60 9.900% F 5,221
03 481,945 7/27/94 8/1/2024 60 9.900% F 4,242
04 1,255,654 10/14/94 11/1/2019 63 10.450% F 11,993
05 5,242,025 7/5/94 8/1/2024 61 10.100% F 46,903
06 1,791,992 7/22/94 8/1/2019 60 10.010% F 16,597
07 907,586 10/28/94 11/1/2019 64 11.160% F 9,124
08 1,340,016 11/30/94 12/1/2024 64 10.700% F 12,551
09 1,840,616 9/16/94 10/1/2024 62 9.850% F 16,117
10 1,128,120 9/16/94 10/1/2024 62 9.850% F 9,878
11 11,711,927 8/15/94 9/1/2024 61 9.550% F 100,074
12 4,415,010 10/17/94 11/1/2024 99 9.750% F 38,318
13 1,489,011 1/27/95 2/1/2025 102 10.450% F 13,665
14 893,743 1/17/95 2/1/2025 102 10.700% F 8,368
20 2,524,695 7/1/94 8/1/2019 36 10.125% F 23,626
21 3,694,067 9/23/94 10/1/2014 38 10.625% F 38,258
22 6,939,254 12/1/94 12/1/2023 64 10.750% F 65,655
23 6,923,589 12/2/94 1/1/2025 41 11.000% F 66,396
24 6,633,928 1/31/95 2/1/2022 66 10.625% F 62,942
25 5,389,318 2/17/95 3/1/2015 43 10.875% F 56,303
26 11,578,361 6/20/95 7/1/2020 23 8.875% F 97,186
27 4,583,723 7/27/95 8/1/2025 72 9.000% F 37,113
28 3,762,830 7/31/95 8/1/2020 108 9.250% F 32,543
29 4,913,258 8/22/95 9/1/2020 73 8.870% F 41,183
30 4,846,307 8/30/95 9/1/2025 109 8.800% F 38,526
31 3,389,930 8/30/95 9/1/2025 109 8.800% F 26,948
32 2,569,165 4/18/95 5/1/2020 69 9.620% F 22,933
33 5,952,964 9/14/95 10/1/2015 110 8.700% F 53,184
34 5,134,924 9/14/95 10/1/2015 110 8.700% F 45,875
35 4,809,680 9/14/95 10/1/2015 110 8.700% F 42,970
36 4,799,824 9/14/95 10/1/2015 110 8.700% F 42,881
37 5,261,173 10/3/95 11/1/2020 111 9.000% F 44,477
38 5,255,252 9/29/95 10/1/2020 74 8.875% F 44,025
42 7,995,041 11/9/94 12/1/2024 64 9.850% F 69,931
43 7,351,068 11/14/94 12/1/2024 64 9.350% F 61,647
47 3,346,319 9/14/95 10/1/2015 110 7.950% F 28,333
48 28,158,459 12/19/95 1/1/2023 113 8.375% F 220,692
49 5,080,055 11/8/95 12/1/2025 112 9.000% F 41,036
50 3,627,959 12/28/95 1/1/2021 113 8.375% F 29,084
51 4,672,188 12/12/95 1/1/2021 77 8.500% F 37,846
52 5,512,320 11/27/95 12/1/2020 76 8.625% F 45,159
53 6,922,257 12/12/95 1/1/2016 113 8.125% F 51,604
54 4,573,866 12/20/95 1/1/2021 113 8.750% F 37,819
- -- ----------- -------- --------- --- ------ ----- ---------
TOTAL 211,146,216
===========
</TABLE>
Page - 18
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: JULY, 1996
DATE PRINTED: 17-JUL-96
<CAPTION>
ASSET PROP YEAR PROPERTY VALUATION VALUATION
NO NO PROPERTY TYPE CITY STATE ZIP BUILT UNITS NET SF VALUE DATE SOURCE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 MULTI-FAMILY LUBBOCK TX 79414 1976 142 108,648 2,500,000 06/17/94 PROSPECTUS
02 1 MULTI-FAMILY LUBBOCK TX 79423 1979 52 36,392 800,000 06/21/94 PROSPECTUS
03 1 MULTI-FAMILY LUBBOCK TX 79414 1973 42 36,470 650,000 06/21/94 PROSPECTUS
04 1 MULTI-FAMILY HOUSTON TX 77055 1969 181 180,849 1,725,000 09/15/94 PROSPECTUS
05 1 MULTI-FAMILY TEMPLE TERRACE FL 33617 1967 252 267,140 7,500,000 06/10/93 PROSPECTUS
06 1 MULTI-FAMILY HOUSTON TX 77081 1974 156 144,645 2,830,000 05/17/94 PROSPECTUS
07 1 OTHER NEW YORK NY 10025 1910 81 69,550 1,525,000 09/06/94 PROSPECTUS
08 1 MULTI-FAMILY HAMMOND LA 70403 1986 64 56,352 1,850,000 09/01/94 PROSPECTUS
09 1 MULTI-FAMILY TUCKER GA 30084 1970 96 125,200 2,700,000 08/10/94 PROSPECTUS
10 1 MULTI-FAMILY TUCKER GA 30084 1970 78 90,600 2,100,000 08/10/94 PROSPECTUS
11 1 MULTI-FAMILY LAS VEGAS NV 89104 1989 337 281,502 16,055,000 08/01/94 PROSPECTUS
12 1 MULTI-FAMILY MACON GA 31210 1986 191 148,640 6,850,000 06/23/94 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 11/01/94 PROSPECTUS
20 1 RETAIL COLUMBIA MD 21045 1979 9 25,114 4,500,000 06/01/94 PROSPECTUS
21 1 OFFICE NEW YORK NY 10036 1929 N/A 56,872 7,300,000 09/08/94 PROSPECTUS
22 1 RETAIL EL PASO TX 0 1979 N/A 211,116 10,100,000 11/02/94 PROSPECTUS
23 1 RETAIL IRVING TX 75061 1952 N/A 662,980 10,700,000 11/21/94 MAI APPRAISAL
24 1 RETAIL BYRON GA 0 1988 N/A 108,399 9,600,000 12/26/94 PROSPECTUS
25 1 INDUSTRIAL LINDEN NJ 07036 1910 N/A 523,374 10,500,000 01/12/95 PROSPECTUS
26 1 RETAIL RARITAN NJ 08869 1987 21 117,000 17,475,000 03/01/95 PROSPECTUS
27 1 RETAIL TUCSON AZ 85746 1982 N/A 109,327 6,150,000 06/14/95 PROSPECTUS
28 1 RETAIL HOUSTON TX 77040 1986 5 58,384 5,700,000 06/15/95 PROSPECTUS
29 1 MULTI-FAMILY ATLANTA GA 30324 1948 176 232,300 6,900,000 05/10/95 PROSPECTUS
30 1 MULTI-FAMILY MARIETTA GA 30067 1973 200 208,844 6,700,000 05/10/95 PROSPECTUS
31 1 MULTI-FAMILY GREENVILLE SC 29615 1967 159 131,838 4,550,000 05/12/95 PROSPECTUS
32 1 MULTI-FAMILY ALBANY GA 31707 1970 200 197,048 4,320,000 02/22/95 PROSPECTUS
33 1 LODGING OMAHA NE 68154 1991 137 142,659 8,600,000 06/01/95 PROSPECTUS
34 1 LODGING OVERLAND PARK KS 66212 1988 143 166,399 8,000,000 06/01/95 PROSPECTUS
35 1 LODGING KNOXVILLE TN 37922 1989 137 164,145 7,300,000 06/01/95 PROSPECTUS
36 1 LODGING ATLANTA GA 30093 1987 147 85,150 8,400,000 06/01/95 PROSPECTUS
37 1 MIXED USE RED BANK NJ 07701 1905 N/A 104,584 8,800,000 07/20/95 PROSPECTUS
38 1 RETAIL SAN ANTONIO TX 78207 1955 34 225,952 7,200,000 06/15/95 PROSPECTUS
42 1 MULTI-FAMILY ROSWELL GA 30076 1973 312 382,591 11,700,000 07/18/94 PROSPECTUS
43 1 MULTI-FAMILY CLEARWATER FL 34619 1974 188 342,068 5,125,500 07/14/94 PROSPECTUS
43 2 MULTI-FAMILY CLEARWATER FL 34619 1974 184 N/A 4,924,500 07/14/94 PROSPECTUS
47 1 LODGING WICHITA KS 67207 1985 120 64,390 7,500,000 06/01/95 PROSPECTUS
48 1 OFFICE REDMOND WA 98052 1988 N/A 395,034 43,500,000 01/13/95 PROSPECTUS
49 1 RETAIL PEMBROKE PINES FL 33025 1986 35 81,355 7,800,000 09/01/95 PROSPECTUS
50 1 RETAIL EDMOND OK 73013 1966 N/A 102,658 5,050,000 09/01/95 PROSPECTUS
51 1 RETAIL LAKELAND FL 33802 1960 N/A 149,294 7,100,000 10/17/95 PROSPECTUS
52 1 OFFICE MIDDLEBURY CT 06762 1988 19 74,500 7,650,000 08/19/95 PROSPECTUS
53 1 MULTI-FAMILY ATLANTA GA 30341 1973 164 229,890 9,375,000 07/12/95 PROSPECTUS
54 1 RETAIL ABRDEEN NJ 07747 1960 N/A 63,148 6,550,000 05/12/95 PROSPECTUS
</TABLE>
Page - 19
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: JULY, 1996
DATE PRINTED: 17-JUL-96
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD YTD NOI PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 337,154 2/1/96 PROSPECTUS 89,109 1/1/96 3/31/96 BORROWER 93.6% 3/31/96
02 1 71,473 2/1/96 PROSPECTUS 25,939 1/1/96 3/31/96 BORROWER 88.2% 3/31/96
03 1 88,541 2/1/96 PROSPECTUS 29,376 1/1/96 3/31/96 BORROWER 92.0% 12/31/95
04 1 200,559 2/1/96 PROSPECTUS 94,751 1/1/96 3/31/96 BORROWER 93.0% 3/31/96
05 1 815,244 2/1/96 PROSPECTUS 220,236 1/1/96 3/31/96 BORROWER 96.0% 3/31/96
06 1 231,771 2/1/96 PROSPECTUS 63,587 1/1/96 3/31/96 BORROWER 91.0% 3/31/96
07 1 195,499 2/1/96 PROSPECTUS 57,752 1/1/96 3/31/96 BORROWER 98.7% 3/31/96
08 1 206,082 2/1/96 PROSPECTUS 58,625 1/1/96 3/31/96 BORROWER 100.0% 2/1/96
09 1 280,396 2/1/96 PROSPECTUS 84,506 1/1/96 3/31/96 BORROWER 100.0% 3/31/96
10 1 184,953 2/1/96 PROSPECTUS 64,249 1/1/96 3/31/96 BORROWER 98.7% 3/31/96
11 1 1,476,449 2/1/96 PROSPECTUS 392,537 1/1/96 3/31/96 BORROWER 100.0% 3/31/96
12 1 617,479 2/1/96 PROSPECTUS 163,300 1/1/96 3/31/96 BORROWER 100.0% 3/31/96
13 1 222,160 2/1/96 PROSPECTUS 64,901 1/1/96 3/31/96 BORROWER 100.0% 3/30/96
14 1 113,438 2/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/1/95
20 1 427,529 2/1/96 PROSPECTUS 96,796 1/1/96 3/31/96 BORROWER 81.8% 3/31/96
21 1 755,853 2/1/96 PROSPECTUS N/A N/A N/A N/A 96.0% 11/1/95
22 1 1,084,084 2/1/96 PROSPECTUS 602,573 1/1/96 6/30/96 BORROWER 96.1% 6/30/96
23 1 1,144,792 2/1/96 PROSPECTUS 833,161 6/30/95 3/25/96 BORROWER 85.4% 3/31/96
24 1 965,176 2/1/96 PROSPECTUS 258,204 1/1/96 3/31/96 BORROWER 93.0% 3/31/96
25 1 999,143 2/1/96 PROSPECTUS 277,839 1/1/96 4/30/96 BORROWER 100.0% 4/30/96
26 1 1,464,921 2/1/96 PROSPECTUS N/A N/A N/A N/A 87.0% 6/1/95
27 1 622,165 2/1/96 PROSPECTUS 181,320 1/1/96 3/31/96 BORROWER 100.0% 3/31/96
28 1 543,432 2/1/96 PROSPECTUS 148,864 1/1/96 3/31/96 BORROWER 100.0% 3/31/96
29 1 651,940 2/1/96 PROSPECTUS 207,403 1/1/96 3/31/96 BORROWER 96.0% 3/31/96
30 1 619,737 2/1/96 PROSPECTUS 191,745 1/1/96 3/31/96 BORROWER 96.0% 3/31/96
31 1 434,456 2/1/96 PROSPECTUS 111,680 1/1/96 3/31/96 BORROWER 94.9% 3/31/96
32 1 433,738 2/1/96 PROSPECTUS 130,946 1/1/96 3/31/96 BORROWER 93.5% 3/31/96
33 1 1,097,678 2/1/96 PROSPECTUS 267,707 1/1/96 3/31/96 BORROWER 70.8% 3/31/96
34 1 950,754 2/1/96 PROSPECTUS 216,537 1/1/96 3/31/96 BORROWER 66.4% 3/31/96
35 1 886,348 2/1/96 PROSPECTUS 158,051 1/1/96 3/31/96 BORROWER 58.8% 3/31/96
36 1 895,170 2/1/96 PROSPECTUS 350,459 1/1/96 3/31/96 BORROWER 74.9% 3/31/96
37 1 782,209 2/1/96 PROSPECTUS 216,746 1/1/96 3/31/96 BORROWER 100.0% 3/31/96
38 1 854,368 2/1/96 PROSPECTUS 180,906 1/1/96 3/31/96 BORROWER 91.4% 3/31/96
42 1 1,051,766 2/1/96 PROSPECTUS 253,711 1/1/96 3/31/96 BORROWER 96.0% 3/31/96
43 1 423,040 2/1/96 PROSPECTUS 78,967 1/1/96 3/31/96 BORROWER 98.4% 3/31/96
43 2 403,800 2/1/96 PROSPECTUS 94,645 1/1/96 3/31/96 BORROWER 94.5% 3/31/96
47 1 960,284 2/1/96 PROSPECTUS 253,306 1/1/96 3/31/96 BORROWER 75.3% 3/31/96
48 1 3,793,850 2/1/96 PROSPECTUS 1,053,779 1/1/96 3/31/96 BORROWER 99.6% 6/1/96
49 1 677,084 2/1/96 PROSPECTUS 177,548 1/1/96 3/31/96 BORROWER 94.3% 3/31/96
50 1 507,576 2/1/96 PROSPECTUS 122,442 1/1/96 3/31/96 BORROWER 92.8% 3/2/96
51 1 644,310 2/1/96 PROSPECTUS 224,630 1/1/96 3/31/96 BORROWER 86.4% 3/31/96
52 1 807,669 2/1/96 PROSPECTUS 219,884 1/1/96 3/30/96 BORROWER 95.0% 3/31/96
53 1 796,130 2/1/96 PROSPECTUS 233,696 1/1/96 3/31/96 BORROWER 91.4% 3/31/96
54 1 640,361 2/1/96 PROSPECTUS 185,919 1/1/96 3/31/96 BORROWER 100.0% 4/1/96
</TABLE>
Page - 20
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: JULY, 1996
DATE PRINTED: 17-JUL-96
LOAN 01 - 1:
LOAN 02 - 1: Partial Year Statement Comment: 3/31/96 - TOTAL REVENUES
ARE 9% HIGHER THAN BASELINE, WHILE EXPENSES ARE 10% BELOW BASELINE
PROJECTIONS.
LOAN 03 - 1: Partial Year Statement Comment: 3/31/96 - EXPENSES ARE
DOWN 15% VERSUS THE BASELINE WITH THE LARGEST VARIANCE IN REPAIRS &
MAINTENANCE, DOWN BY 75%.
LOAN 04 - 1: Partial Year Statement Comment: 3/31/96 - FIRST QUARTER
REVENUE INCREASED BY 35,000 OVER BASELINE DUE TO ONE TIME REBATE FROM NEW 10
YEAR LAUNDRY CONTRACT. ADDITIONALLY, A PROPERTY MANAGEMENT FEE EQUAL TO 4%
OF GROSS RENTAL INCOME WAS ASSUMED PER THE SERVICING AGREEMENT.
LOAN 05 - 1: Status Comment: Borrower requested change in property
management company. Case approved. Partial Year Statement Comment:
3/31/96 - YEAR TO DATE OPERATING STATEMENT DOES NOT INCLUDE PROPERTY TAX
EXPENSE.
LOAN 06 - 1:
LOAN 07 - 1:
LOAN 08 - 1: Partial Year Statement Comment: 3/31/96 - BORROWER DID
NOT REPORT ANY PROPERTY TAX OR INSURANCE EXPENSE.
LOAN 09 - 1: Partial Year Statement Comment: 3/31/96 - STATEMENT IS
COMBINED WITH COLLATERAL FOR ANOTHER LOAN. CONTROLLER PROVIDED BREAKDOWN OF
REVENUE WHICH WAS USED TO ALLOCATE EXPENSES TO EACH PHASE OF THE PROPERTY.
LOAN 10 - 1: Partial Year Statement Comment: 3/31/96 - STATEMENT IS
COMBINED WITH COLLATERAL FOR ANOTHER LOAN. CONTROLLER PROVIDED A BREAKDOWN
OF REVENUE WHICH WAS USED TO ALLOCATE OPERATING EXPENSES TO EACH PHASE OF
THE PROPERTY.
LOAN 11 - 1:
LOAN 12 - 1: Partial Year Statement Comment: 3/31/96 - BORROWER
REPORTS THAT THEY ARE REPLACING CARPET, UPGRADING INDIVIDUAL APARTMENTS, AND
CHANGING PAINT COLOR SCHEMES WHICH ACCOUNTS FOR THE HIGH CAPITAL
EXPENDITURES.
LOAN 13 - 1: Partial Year Statement Comment: 3/31/96 - BORROWER
REPORTS THAT THEY ARE REPLACING CARPET, UPGRADING INDIVIDUAL APARTMENTS, AND
CHANGING PAINT COLOR SCHEMES WHICH ACCOUNTS FOR THE HIGH CAPITAL
EXPENDITURES.
LOAN 14 - 1:
LOAN 20 - 1: Partial Year Statement Comment: 3/31/96 - REVENUES ARE
DOWN BY 7% VERSUS THE BASELINE AND 13% LOWER THAN THE PREVIOUS YEAR. RENT
ROLL SHOWS TENANT OCCUPYING 18% OF PROPERTY FILING CHAPTER 11. BORROWER
TOOK CONTROL OF SPACE.
LOAN 21 - 1:
LOAN 22 - 1:
LOAN 23 - 1: Status Comment: Assumption closed. Partial Year
Statement Comment: 3/25/96 - FISCAL YEAR END IS JUNE 30TH.
LOAN 24 - 1:
LOAN 25 - 1: Partial Year Statement Comment: 4/30/96 - EXPENSES ARE UP
BY 13% OVER THE BASELINE. CAPITAL EXPENDITURES ARE UP BY 290% OVER
BASELINE FIGURES.BORROWER REPORTS THAT A NEW SPRINKLER SYSTEM WAS INSTALLED AND
HE IS RENOVATING THE 2ND FLOOR OF A BUILDING FOR FUTURE USE.
LOAN 26 - 1: Status Comment: The property is built on a landfill and
special pumping equipment is needed to remove the methane gas.
Page - 21
<PAGE>
LOAN 27 - 1: Partial Year Statement Comment: 3/31/96 - REVENUES ARE UP
BY 7% OVER BOTH THE 1995 TOTALS AND ALSO THE BASELINE PROJECTIONS.
OPERATING EXPENSES ARE DOWN 29% VERSUS 1995 WITH THE LARGEST VARIANCE COMING IN
PROPERTY MANAGEMENT FEES, DOWN BY 93%.
LOAN 28 - 1: Status Comment: Assumption no longer in progress.
LOAN 29 - 1:
LOAN 30 - 1: Partial Year Statement Comment: 3/31/96 - REVENUE IS UP
7% VERSUS 1995, AND 13% HIGHER THAN BASELINE PROJECTIONS.
LOAN 31 - 1: Partial Year Statement Comment: 3/31/96 - LARGE CAPITAL
EXPENDITURES DUE TO APPLIANCE REPLACEMENT AND COMMON AREA IMPROVEMENT.
LOAN 32 - 1: Status Comment: Borrower requested transfer of beneficial
interests. Case approved. Partial Year Statement Comment: 3/31/96 -
BORROWER REPORTS NO PROPERTY TAX EXPENSE AND MINIMAL INSURANCE EXPENSE.
LOAN 33 - 1:
LOAN 34 - 1:
LOAN 35 - 1: Partial Year Statement Comment: 3/31/96 - REVENUE IS 19%
BELOW BASE LINE PROJECTIONS. BORROWER REPORTS THAT THIS WAS CAUSED BY LOWER
OCCUPANCIES DUE TO A HARSH WINTER, BUT THAT THE PROPERTY IS BACK ON BUDGET AS
OF THE MONTH OF APRIL.
LOAN 36 - 1: Partial Year Statement Comment: 3/31/96 - REVENUE IS UP
14% OVER BASELINE PROJECTIONS. BORROWER REPORTS THEIR ADR ROSE FROM $66 TO
$70 AND THEIR OCCUPANCY ROSE FROM 69% TO NEAR 75% IN 1996.
LOAN 37 - 1: Partial Year Statement Comment: 3/31/96 - BORROWER
REPORTS YEAR TO DATE CAPITAL REPAIR EXPENSE IS 60% OF ANTICIPATED FULL YEAR
EXPENSE.
LOAN 38 - 1: Status Comment: Assumption in progress.
LOAN 42 - 1:
LOAN 43 - 2: Partial Year Statement Comment: 3/31/96 - PROPERTY
MANAGEMENT FEES ARE 62% GREATER THAN BASELINE FIGURES, BUT 7% BELOW PREVIOUS
YEAR AND BELOW BORROWER'S BUDGET YEAR TO DATE.
LOAN 43 - 1: Partial Year Statement Comment: 3/31/96 - UTILITY EXPENSE
IS 64% GREATER THAN BASELINE, BUT IT DOES NOT DIFFER SIGNIFICANTLY FROM
PREVIOUS YEAR OR BORROWER'S BUDGET. ADDITIONALLY, PROPERTY MANAGEMENT FEES
ARE 67% HIGHER THAN BASELINE FIGURES BUT SEEM TO BE IN LINE WITH PREVIOUS
YEAR.
LOAN 47 - 1:
LOAN 48 - 1: Status Comment: Assumption closed.
LOAN 49 - 1: Partial Year Statement Comment: 3/31/96 - BORROWER
APPEARS TO HAVE REPORTED A FULL YEAR OF INSURANCE EXPENSE IN FIRST QUARTER.
LOAN 50 - 1: Partial Year Statement Comment: 3/31/96 - BORROWER
REPORTED THAT CAPITAL EXPENSES ARE STILL RUNNING HIGH DUE TO TENANT
IMPROVEMENTS FOR 3 TENANT TURNS. CAPITAL REPAIR EXPENSE NOT ANNUALIZED DUE
TO COMPLETION OF ROOF REPAIRS AND CONCRETE WORK.
LOAN 51 - 1: Partial Year Statement Comment: 3/31/96 - PERCENTAGE RENT
REVENUE NOT ANNUALIZED DUE TO BORROWER REPORTING A FULL YEAR IN THE FIRST
QTR. CAPITAL EXPENDITURES ARE 45% GREATER THAN BASELINE. BORROWER REPORTS
THAT EXPENSE IS DUE TO A ONE TIME PAYMENT IN ACCORDANCE WITH A TENANT'S
LEASE AGREEMENT.
LOAN 52 - 1:
LOAN 53 - 1:
LOAN 54 - 1: Partial Year Statement Comment: 3/31/96 - REVENUES ARE UP
BY 13% WHILE EXPENSES ARE DOWN BY 9% AS COMPARED TO THE BASELINE
EXPECTATIONS.
Page - 22
