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) August 20, 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 August 20, 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
August 20, 1996.
Loan data file as of the August 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: August 20, 1996
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 3
dated as of August 20, 1996
Loan data file as of August 1996 18
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Brian Ames (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
Statement Date: 08/20/96
Payment Date: 08/20/96
Prior Payment: 07/22/96
Record Date: 07/31/96
WAC: 9.257008%
WAMM: 82
<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 49,086,775.87 186,830.95
79548KQD3 ........ 1000.000000 981.735517 3.736619
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 169,782,775.87 0.00
79548S9K9 ........ 1000.000000 994.649997 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 8,555,623.62 92,726.19
79548S9H6 ........ 1000.000000 949.186940 10.287326
R-III ............ 0.00 0.00 0.00
9ABSM691 ......... 1000.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
212,045,633.94 210,674,399.49 279,557.14
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
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 48,899,944.92
79548KQD3 ........ 0.000000 0.000000 977.998898
A-2 .............. 0.00 0.00 81,468,000.00
79548KQH4 ........ 0.000000 0.000000 1000.000000
IO ............... 0.00 0.00 169,595,944.92
79548S9K9 ........ 0.000000 0.000000 993.555472
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 8,462,897.43
79548S9H6 ........ 0.000000 0.000000 938.899614
R-III ............ 0.00 0.00 0.00
9ABSM691 ......... 0.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
0.00 0.00 210,394,842.35
================ ================ ================
<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 .............. 264,618.63 0.00 6.469000%
79548KQD3 ........ 5.292373 0.000000 Fixed
A-2 .............. 460,314.57 0.00 6.780300%
79548KQH4 ........ 5.650250 0.000000 Fixed
IO ............... 245,245.10 0.00 1.733357%
79548S9K9 ........ 1.436736 0.000000 1.734749%
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 ................ 162,290.12 0.00 9.184500%
79548S9F0 ........ 7.653750 0.000000 9.184600%
F ................ 85,201.55 0.00 9.184500%
79548S9G8 ........ 7.653750 0.000000 9.184600%
G ................ 65,482.60 0.00 9.184500%
79548S9H6 ........ 7.264839 0.000000 9.184600%
R-III ............ 0.00 0.00 None
9ABSM691 ......... 0.000000 0.000000 0.000000%
- ------------------ ---------------- ---------------- ----------------
1,523,229.90 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 49,086,775.87 186,830.95
None ............. 1000.000000 981.735517 3.736619
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 40,891,623.62 92,726.19
None ............. 1000.000000 988.923473 2.242491
R-II ............. 0.00 0.00 0.00
9ABSM690 ......... 1000.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
212,045,633.94 210,674,399.49 279,557.14
================ ================ ================
<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 48,899,944.92
None ............. 0.000000 0.000000 977.998898
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 40,798,897.43
None ............. 0.000000 0.000000 986.680982
R-II ............. 0.00 0.00 0.00
9ABSM690 ......... 0.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
0.00 0.00 210,394,842.35
================ ================ ================
Total P&I Payment 1,802,787.04
================
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 ................ 286,478.61 0.00 None
None ............. 5.729572 0.000000 0.000000%
V ................ 623,535.71 0.00 None
None ............. 7.653750 0.000000 0.000000%
W ................ 113,604.61 0.00 None
None ............. 7.653750 0.000000 0.000000%
X ................ 113,604.61 0.00 None
None ............. 7.653750 0.000000 0.000000%
Y ................ 73,032.09 0.00 None
None ............. 7.653751 0.000000 0.000000%
Z ................ 312,974.27 0.00 None
None ............. 7.568973 0.000000 0.000000%
R-II ............. 0.00 0.00 None
9ABSM690 ......... 0.000000 0.000000 0.000000%
- ------------------ ---------------- ---------------- ----------------
1,523,229.90 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 .......... 212,045,633.94 211,132,409.81 186,830.95
None ............. 1000.000000 995.693266 0.881088
R-I .............. 0.00 0.00 0.00
9ABSM689 ......... 1000.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
212,045,633.94 211,132,409.81 186,830.95
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 6
<PAGE>
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 0.00 210,945,578.86
None ............. 0.000000 0.000000 994.812178
R-I .............. 0.00 0.00 0.00
9ABSM689 ......... 0.000000 0.000000 0.000000
- ------------------ ---------------- ---------------- ----------------
0.00 0.00 210,945,578.86
================ ================ ================
<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 .......... 1,615,956.09 0.00 None
None ............. 7.620794 0.000000 0.000000%
R-I .............. 0.00 0.00 None
9ABSM689 ......... 0.000000 0.000000 0.000000%
- ------------------ ---------------- ---------------- ----------------
1,615,956.09 0.00 0.000000%
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
Available Distribution Amount 1,802,787.04
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
======== ======== ========
Page - 7
<PAGE>
PRINCIPAL DISTRIBUTION
Class Scheduled Unscheduled
A-1 ........... 186,830.95 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 92,726.19
------------ ------------
186,830.95 92,726.19
============ ============
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 12,755.92
Aggregate Special Servicing Compensation 0.00
Fees/ Premiums paid to Class R-I 0.00
Mortgage Pool Balance 210,945,578.86
Stated Principal Balance 210,945,578.86
Assigned Asset Value 210,945,578.86
Loan Remaining
Count Term WAC
43 82 9.25712649%
DELINQUENCY /PREPAYMENT / RATE HISTORY REPORTING
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
08/20/96 ........ 0 0 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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%
Page - 8
<PAGE>
<TABLE>
<CAPTION>
Distribution Foreclosure/Bankruptcy(1) REO (1)
Date # Balance # Balance
<S> <C> <C> <C> <C>
08/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
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
08/20/96 ........ 0 0 0 0
/ ............... 0.00% 0.000% 0.00% 0.000%
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
08/20/96 ...... 9.257126% 9.184626%
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 199608 07/01/96 96,487.60 96,487.60 0.00
38 199608 07/01/96 43,707.11 43,707.11 0.00
6 199608 07/01/96 16,488.49 16,488.49 0.00
- -- ------ -------- ---------- ---------- ----------
TOTALS: 156,683.20 156,683.20 0.00
========== ========== ==========
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
Page - 9
<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
38 B 0
6 B 0
- - -
TOTALS:
<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 ............ 1 481,679 0.23%
$500,000 to $1,000,000 .... 3 2,393,083 1.13%
$1,000,000 to $1,500,000 .. 4 5,209,216 2.47%
$1,500,000 to $2,000,000 .. 3 5,480,902 2.60%
$2,000,000 to $2,500,000 .. 0 0 0.00%
$2,500,000 to $3,000,000 .. 2 5,089,199 2.41%
$3,000,000 to $3,500,000 .. 2 6,727,996 3.19%
$3,500,000 to $4,000,000 .. 3 11,072,005 5.25%
$4,000,000 to $4,500,000 .. 1 4,412,564 2.09%
$4,500,000 to $5,000,000 .. 7 33,162,856 15.72%
$5,000,000 to $5,500,000 .. 6 31,330,744 14.85%
$5,500,000 to $6,000,000 .. 2 11,449,720 5.43%
$6,000,000 to $6,500,000 .. 0 0 0.00%
$6,500,000 to $7,000,000 .. 4 27,403,669 12.99%
$7,000,000 to $7,500,000 .. 1 7,346,698 3.48%
$7,500,000 to $8,000,000 .. 1 7,990,735 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 51,394,515 24.36%
- --------------------------- ----- ------------ ------
Total ..................... 43 210,945,579 100.00%
===== ============ ======
Average Scheduled Balance is 4,905,711
Maximum Scheduled Balance is 28,134,289
Minimum Scheduled Balance is 481,679
Page - 10
<PAGE>
DISTRIBUTION OF PROPERTY TYPES
Number Scheduled Based on
Property Types of Loans Principal Balance Balance
MF Housing ......... 21 72,883,082 34.55%
Retail ............. 12 66,092,208 31.33%
Office/Industrial .. 1 28,134,289 13.34%
Hospitality ........ 5 24,002,693 11.38%
Office/Retail ...... 2 10,762,935 5.10%
Industrial ......... 1 5,381,855 2.55%
Office ............. 1 3,688,517 1.75%
--- ----------- ------
Total .............. 43 210,945,579 100.00%
=== =========== ======
GEOGRAPHIC DISTRIBUTION
Number Scheduled Based on
Geographic Location of Loans Principal Balance Balance
Georgia .......... 11 47,516,248 22.53%
Texas ............ 9 28,836,215 13.67%
Washington ....... 1 28,134,289 13.34%
New Jersey ....... 4 26,762,574 12.69%
Florida .......... 4 22,330,496 10.59%
Nevada ........... 1 11,705,060 5.55%
Kansas ........... 2 8,466,432 4.01%
Nebraska ......... 1 5,942,940 2.82%
Connecticut ...... 1 5,506,781 2.61%
New York ......... 3 5,488,764 2.60%
Tennessee ........ 1 4,801,580 2.28%
Arizona .......... 1 4,580,988 2.17%
Oklahoma ......... 1 3,624,195 1.72%
South Carolina ... 1 3,387,841 1.61%
Maryland ......... 1 2,522,371 1.20%
Louisiana ........ 1 1,338,805 0.63%
--- ----------- ------
Total ............ 43 210,945,579 100.00%
=== =========== ======
<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 46,683,598 22.13%
8.501%to 8.625% .... 1 5,506,781 2.61%
8.626%to 8.750% .... 5 25,231,936 11.96%
8.751%to 8.875% .... 5 29,944,814 14.20%
8.876%to 9.000% .... 3 14,914,262 7.07%
9.001%to 9.125% .... 0 0 0.00%
9.126%to 9.250% .... 1 3,759,293 1.78%
9.251%to 9.375% .... 1 7,346,698 3.48%
9.376%to 9.500% .... 0 0 0.00%
9.501%to 9.625% .... 2 14,271,888 6.77%
9.626%to 9.750% .... 1 4,412,564 2.09%
9.751%to 9.875% .... 3 10,957,844 5.19%
9.876%to 10.000% ... 3 2,927,128 1.39%
10.001%to 10.125% .. 3 9,550,295 4.53%
10.126%& above ..... 10 35,438,479 16.80%
- -------------------- --- ----------- ------
Total .............. 43 210,945,579 100.00%
=== =========== ======
<FN>
(1) Weighted Average Mortgage Interest Rate is 9.2571%
Minimum Mortgage Interest Rate is 7.9500%
Maximum Mortgage Interest Rate is 11.1600%
</FN>
</TABLE>
Page - 11
<PAGE>
LOAN SEASONING
Number Scheduled Based on
Number of Years of Loans Principal Balance Balance
1 year or less ..... 20 126,040,684 59.75%
1+ to 2 years ...... 23 84,904,895 40.25%
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 .............. 43 210,945,579 100.00%
=== =========== ======
Weighted Average Seasoning is 1.1
DISTRIBUTION OF AMORTIZATION TYPE
Number Scheduled Based on
Amortization Type of Loans Principal Balance Balance
Amortizing Balloon . 43 210,945,579 100.00%
--- ----------- ------
Total .............. 43 210,945,579 100.00%
=== =========== ======
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 11,555,166 5.48%
25 to 36 months .... 1 2,522,371 1.20%
37 to 48 months .... 3 15,991,031 7.58%
49 to 60 months .... 4 4,715,809 2.24%
61 to 120 months ... 34 176,161,201 83.51%
121 to 180 months .. 0 0 0.00%
181 to 240 months .. 0 0 0.00%
- -------------------- --- ----------- ------
Total .............. 43 210,945,579 100.00%
=== =========== ======
Weighted Average Months to Maturity is 82
Page - 12
<PAGE>
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Number Scheduled Based on
Coverage Ratio (1) of Loans Principal Balance Balance
<S> <C> <C> <C>
100.000%or less ...... 0 0 0.00%
100.100%to 112.500% .. 1 7,346,698 3.48%
112.600%to 125.000% .. 5 22,970,657 10.89%
125.100%to 137.500% .. 10 50,558,768 23.97%
137.600%to 150.000% .. 14 87,670,257 41.56%
150.100%to 162.500% .. 4 11,466,794 5.44%
162.600%to 175.000% .. 7 26,685,347 12.65%
175.100%to 187.500% .. 1 906,902 0.43%
187.600%to 200.000% .. 0 0 0.00%
200.100%to 212.500% .. 0 0 0.00%
212.600%to 225.000% .. 0 0 0.00%
225.100%to 237.500% .. 0 0 0.00%
237.600%to 250.000% .. 0 0 0.00%
250.100%to 262.500% .. 0 0 0.00%
262.600%& above ...... 1 3,340,155 1.58%
Unknown .............. 0 0 0.00%
--- ----------- ------
Total ................ 43 210,945,579 100.00%
=== =========== ======
Weighted Average Debt Service Coverage Ratio is 143.720%
<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>
NOI AGING
Scheduled
Number Principal Based on
NOI Date of Loans Balance Balance
1 year or less ..... 43 210,945,579 100.00%
1+ to 2 years ...... 0 0 0.00%
2+ & above ......... 0 0 0.00%
Unknown ............ 0 0 0.00%
--- ----------- ------
Total .............. 43 210,945,579 100.00%
=== =========== ======
Page - 13
<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 - 14
<PAGE>
Ending Scheduled
Scheduled Note Principal Prepayments
Property Name Balance Rate Payment Liquidations
Dobbin Square ............. 2,522,371 10.1250% 2,324 0
42 West 48th Street ....... 3,688,517 10.6250% 5,550 0
Vista Hills ............... 6,935,763 10.7500% 3,491 0
Plymouth Park ............. 6,920,659 11.0000% 2,930 0
Peach Festival ............ 6,629,724 10.6250% 4,204 0
Goethals Park ............. 5,381,855 10.8750% 7,463 0
West Harbor ............... 4,412,564 9.7500% 2,446 0
Heritage Village .......... 5,239,242 10.1000% 2,783 0
Pelican Point ............. 1,788,681 10.0100% 1,662 0
Ashley Woods .............. 1,488,313 10.4500% 698 0
West 109th Street ......... 906,902 11.1600% 683 0
Emerald Bay ............... 11,705,060 9.5500% 6,866 0
West 14th Street .......... 893,344 10.7000% 398 0
Ranch Park ................ 1,852,613 9.9000% 1,024 0
Timber Ridge .............. 592,836 9.9000% 328 0
Windy Ridge ............... 481,679 9.9000% 266 0
English Oaks .............. 1,254,596 10.4500% 1,058 0
Northlake I ............... 1,839,608 9.8500% 1,009 0
Northlake II .............. 1,127,501 9.8500% 618 0
Brookgreen/Lantana ........ 7,346,698 9.3500% 4,370 0
Kings Bridge .............. 7,990,735 9.8500% 4,306 0
Beaumonde ................. 1,338,805 10.7000% 608 0
Raritan Mall .............. 11,555,166 8.8750% 11,640 0
Manzanita Plaza ........... 4,580,988 9.0000% 2,735 0
Benchmark Crossing ........ 3,759,293 9.2500% 3,537 0
Northmoor Apartments ...... 4,908,392 8.8700% 4,866 0
Colonial Oaks ............. 4,843,321 8.8000% 2,986 0
Continental ............... 3,387,841 8.8000% 2,089 0
Atlanta ................... 4,791,741 8.7000% 8,083 0
Wichita ................... 3,340,155 7.9500% 6,164 0
Cross Creek ............... 2,566,828 9.6200% 2,337 0
Knoxville ................. 4,801,580 8.7000% 8,099 0
Omaha ..................... 5,942,940 8.7000% 10,025 0
Overland Park ............. 5,126,277 8.7000% 8,647 0
Las Palmas ................ 5,250,094 8.8750% 5,158 0
Galleria .................. 5,256,154 9.0000% 5,019 0
Luria Plaza ............... 5,077,120 9.0000% 2,935 0
Crossroads at Middlebury .. 5,506,781 8.6250% 5,539 0
Lansbury Village Apts ..... 6,917,522 8.1250% 4,734 0
Grove Park ................ 4,667,437 8.5000% 4,751 0
Redmond East .............. 28,134,289 8.3750% 24,170 0
Strathmore S/C ............ 4,569,398 8.7500% 4,468 0
Edmond Plaza .............. 3,624,195 8.3750% 3,764 0
----------- ------- ------- --
210,945,579 0.0000% 186,831 0
=========== ======= ======= ==
Page - 15
<PAGE>
<TABLE>
<CAPTION>
Paid Prepayment Loan
Property Name Date Date Amount Code (1)
<S> <C> <C> <C> <C>
Dobbin Square ............. 08/01/96 0
42 West 48th Street ....... 08/01/96 0
Vista Hills ............... 08/01/96 0
Plymouth Park ............. 08/01/96 0
Peach Festival ............ 08/01/96 0
Goethals Park ............. 08/01/96 0
West Harbor ............... 08/01/96 0
Heritage Village .......... 08/01/96 0
Pelican Point ............. 07/01/96 0
Ashley Woods .............. 08/01/96 0
West 109th Street ......... 08/01/96 0
Emerald Bay ............... 08/01/96 0
West 14th Street .......... 08/01/96 0
Ranch Park ................ 08/01/96 0
Timber Ridge .............. 08/01/96 0
Windy Ridge ............... 08/01/96 0
English Oaks .............. 08/01/96 0
Northlake I ............... 08/01/96 0
Northlake II .............. 08/01/96 0
Brookgreen/Lantana ........ 08/01/96 0
Kings Bridge .............. 08/01/96 0
Beaumonde ................. 08/01/96 0
Raritan Mall .............. 07/01/96 0
Manzanita Plaza ........... 08/01/96 0
Benchmark Crossing ........ 08/01/96 0
Northmoor Apartments ...... 08/01/96 0
Colonial Oaks ............. 08/01/96 0
Continental ............... 08/01/96 0
Atlanta ................... 08/01/96 0
Wichita ................... 08/01/96 0
Cross Creek ............... 08/01/96 0
Knoxville ................. 08/01/96 0
Omaha ..................... 08/01/96 0
Overland Park ............. 08/01/96 0
Las Palmas ................ 07/01/96 0
Galleria .................. 08/01/96 0
Luria Plaza ............... 08/01/96 0
Crossroads at Middlebury .. 08/01/96 0
Lansbury Village Apts ..... 08/01/96 0
Grove Park ................ 08/01/96 0
Redmond East .............. 08/01/96 0
Strathmore S/C ............ 08/01/96 0
Edmond Plaza .............. 08/01/96 0
-------- -
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 - 16
<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 - 17
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: AUGUST, 1996
DATE PRINTED: 19-AUG-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 1,852,613 0 74.1% 1.72 N/A PERFORMING PERFORM TO MATURITY
02 592,836 0 74.1% 1.14 N/A PERFORMING PERFORM TO MATURITY
03 481,679 0 74.1% 1.74 N/A PERFORMING PERFORM TO MATURITY
04 1,254,596 0 72.7% 1.39 N/A PERFORMING PERFORM TO MATURITY
05 5,239,242 0 70.0% 1.45 N/A PERFORMING PERFORM TO MATURITY
06 1,790,344 0 63.3% 1.16 N/A PERFORMING PERFORM TO MATURITY
07 906,902 0 59.5% 1.79 N/A PERFORMING PERFORM TO MATURITY
08 1,338,805 0 72.4% 1.37 N/A PERFORMING PERFORM TO MATURITY
09 1,839,608 0 68.1% 1.45 N/A PERFORMING PERFORM TO MATURITY
10 1,127,501 0 53.7% 1.56 N/A PERFORMING PERFORM TO MATURITY
11 11,705,060 0 72.9% 1.23 N/A PERFORMING PERFORM TO MATURITY
12 4,412,564 0 64.4% 1.34 N/A PERFORMING PERFORM TO MATURITY
13 1,488,313 0 60.7% 1.35 N/A PERFORMING PERFORM TO MATURITY
14 893,344 0 68.7% 1.13 N/A PERFORMING PERFORM TO MATURITY
20 2,522,371 0 56.1% 1.51 N/A PERFORMING PERFORM TO MATURITY
21 3,688,517 0 50.5% 1.65 N/A PERFORMING PERFORM TO MATURITY
22 6,935,763 0 68.7% 1.38 N/A PERFORMING PERFORM TO MATURITY
23 6,920,659 0 65.0% 1.44 N/A PERFORMING PERFORM TO MATURITY
24 6,629,724 0 69.1% 1.28 N/A PERFORMING PERFORM TO MATURITY
25 5,381,855 0 51.3% 1.48 N/A PERFORMING PERFORM TO MATURITY
26 11,566,807 0 66.0% 1.26 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
27 4,580,988 0 74.5% 1.40 N/A PERFORMING PERFORM TO MATURITY
28 3,759,293 0 66.0% 1.39 N/A PERFORMING PERFORM TO MATURITY
29 4,908,392 0 71.1% 1.32 N/A PERFORMING PERFORM TO MATURITY
30 4,843,321 0 72.3% 1.34 N/A PERFORMING PERFORM TO MATURITY
31 3,387,841 0 74.5% 1.34 N/A PERFORMING PERFORM TO MATURITY
32 2,566,828 0 59.0% 1.58 N/A PERFORMING PERFORM TO MATURITY
33 5,942,940 0 69.1% 1.72 N/A PERFORMING PERFORM TO MATURITY
34 5,126,277 0 64.1% 1.73 N/A PERFORMING PERFORM TO MATURITY
35 4,801,580 0 65.8% 1.72 N/A PERFORMING PERFORM TO MATURITY
36 4,791,741 0 57.0% 1.74 N/A PERFORMING PERFORM TO MATURITY
37 5,256,154 0 59.7% 1.47 N/A PERFORMING PERFORM TO MATURITY
38 5,255,252 0 73.0% 1.62 N/A PERFORMING PERFORM TO MATURITY
42 7,990,735 0 68.3% 1.25 N/A PERFORMING PERFORM TO MATURITY
43 7,346,698 0 73.1% 1.12 N/A PERFORMING PERFORM TO MATURITY
47 3,340,155 0 44.5% 2.82 N/A PERFORMING PERFORM TO MATURITY
48 28,134,289 0 65.0% 1.43 N/A PERFORMING PERFORM TO MATURITY
49 5,077,120 0 65.1% 1.37 N/A PERFORMING PERFORM TO MATURITY
50 3,624,195 0 71.8% 1.45 N/A PERFORMING PERFORM TO MATURITY
51 4,667,437 0 65.7% 1.42 N/A PERFORMING PERFORM TO MATURITY
52 5,506,781 0 72.0% 1.49 N/A PERFORMING PERFORM TO MATURITY
53 6,917,522 0 73.8% 1.29 N/A PERFORMING PERFORM TO MATURITY
54 4,569,398 0 69.8% 1.41 N/A PERFORMING PERFORM TO MATURITY
- -- ----------- ----- ---- ---- --- ---------------------- -------------------
TOTAL 210,964,039
===========
</TABLE>
Page - 18
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: AUGUST, 1996
DATE PRINTED: 19-AUG-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 1,852,613 7/27/94 8/1/2024 59 9.900% F 16,316
02 592,836 7/27/94 8/1/2024 59 9.900% F 5,221
03 481,679 7/27/94 8/1/2024 59 9.900% F 4,242
04 1,254,596 10/14/94 11/1/2019 62 10.450% F 11,993
05 5,239,242 7/5/94 8/1/2024 60 10.100% F 46,903
06 1,790,344 7/22/94 8/1/2019 59 10.010% F 16,597
07 906,902 10/28/94 11/1/2019 63 11.160% F 9,124
08 1,338,805 11/30/94 12/1/2024 63 10.700% F 12,551
09 1,839,608 9/16/94 10/1/2024 61 9.850% F 16,117
10 1,127,501 9/16/94 10/1/2024 61 9.850% F 9,878
11 11,705,060 8/15/94 9/1/2024 60 9.550% F 100,074
12 4,412,564 10/17/94 11/1/2024 98 9.750% F 38,318
13 1,488,313 1/27/95 2/1/2025 101 10.450% F 13,665
14 893,344 1/17/95 2/1/2025 101 10.700% F 8,368
20 2,522,371 7/1/94 8/1/2019 35 10.125% F 23,626
21 3,688,517 9/23/94 10/1/2014 37 10.625% F 38,258
22 6,935,763 12/1/94 12/1/2023 63 10.750% F 65,655
23 6,920,659 12/2/94 1/1/2025 40 11.000% F 66,396
24 6,629,724 1/31/95 2/1/2022 65 10.625% F 62,942
25 5,381,855 2/17/95 3/1/2015 42 10.875% F 56,303
26 11,566,807 6/20/95 7/1/2020 22 8.875% F 97,186
27 4,580,988 7/27/95 8/1/2025 71 9.000% F 37,113
28 3,759,293 7/31/95 8/1/2020 107 9.250% F 32,543
29 4,908,392 8/22/95 9/1/2020 72 8.870% F 41,183
30 4,843,321 8/30/95 9/1/2025 108 8.800% F 38,526
31 3,387,841 8/30/95 9/1/2025 108 8.800% F 26,948
32 2,566,828 4/18/95 5/1/2020 68 9.620% F 22,933
33 5,942,940 9/14/95 10/1/2015 109 8.700% F 53,184
34 5,126,277 9/14/95 10/1/2015 109 8.700% F 45,875
35 4,801,580 9/14/95 10/1/2015 109 8.700% F 42,970
36 4,791,741 9/14/95 10/1/2015 109 8.700% F 42,881
37 5,256,154 10/3/95 11/1/2020 110 9.000% F 44,477
38 5,255,252 9/29/95 10/1/2020 73 8.875% F 44,025
42 7,990,735 11/9/94 12/1/2024 63 9.850% F 69,931
43 7,346,698 11/14/94 12/1/2024 63 9.350% F 61,647
47 3,340,155 9/14/95 10/1/2015 109 7.950% F 28,333
48 28,134,289 12/19/95 1/1/2023 112 8.375% F 220,692
49 5,077,120 11/8/95 12/1/2025 111 9.000% F 41,036
50 3,624,195 12/28/95 1/1/2021 112 8.375% F 29,084
51 4,667,437 12/12/95 1/1/2021 76 8.500% F 37,846
52 5,506,781 11/27/95 12/1/2020 75 8.625% F 45,159
53 6,917,522 12/12/95 1/1/2016 112 8.125% F 51,604
54 4,569,398 12/20/95 1/1/2021 112 8.750% F 37,819
- -- ----------- -------- --------- --- ------ ----- ---------
TOTAL 210,964,039
===========
</TABLE>
Page - 19
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: AUGUST, 1996
DATE PRINTED: 19-AUG-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 - 20
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: AUGUST, 1996
DATE PRINTED: 19-AUG-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 168,576 1/1/96 6/30/96 BORROWER 85.9% 6/30/96
02 1 71,473 2/1/96 PROSPECTUS 47,708 1/1/96 6/30/96 BORROWER 88.2% 3/31/96
03 1 88,541 2/1/96 PROSPECTUS 53,492 1/1/96 6/30/96 BORROWER 92.9% 6/30/96
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 511,629 1/1/96 6/30/96 BORROWER 92.7% 6/30/96
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 296,979 1/1/96 6/30/96 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 633,032 1/1/96 6/30/96 BORROWER 75.7% 6/30/96
34 1 950,754 2/1/96 PROSPECTUS 528,309 1/1/96 6/30/96 BORROWER 72.5% 6/30/96
35 1 886,348 2/1/96 PROSPECTUS 443,254 1/1/96 6/30/96 BORROWER 68.1% 6/30/96
36 1 895,170 2/1/96 PROSPECTUS 704,325 1/1/96 6/30/96 BORROWER 72.3% 6/30/96
37 1 782,209 2/1/96 PROSPECTUS 426,130 1/1/96 6/30/96 BORROWER 91.2% 6/30/96
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 540,320 1/1/96 6/30/96 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 519,503 1/1/96 6/30/96 BORROWER 78.1% 6/30/96
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 348,467 1/1/96 6/30/96 BORROWER 94.3% 6/30/96
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 346,274 1/1/96 6/30/96 BORROWER 87.0% 6/30/96
52 1 807,669 2/1/96 PROSPECTUS 418,791 1/1/96 6/30/96 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 405,011 1/1/96 6/30/96 BORROWER 96.6% 6/30/96
</TABLE>
Page - 21
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: SALOMON BROS. MTGE SERIES 1996 C1
REPORTING PERIOD: AUGUST, 1996
DATE PRINTED: 19-AUG-96
LOAN 01 - 1:
LOAN 02 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE 4%
HIGHER THAN BASELINE FIGURES, WHILE EXPENSES ARE DOWN BY 11% COMPARED TO
BASELINE NUMBERS.
LOAN 03 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 8% OVER THE BASELINE FIGURES. CAPITAL EXPENSES ARE HIGH DUE TO EXTERIOR
REHAB ON THE PROPERTY.
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: 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: Partial Year Statement Comment: 3/25/96 - FISCAL YEAR END
IS JUNE 30TH.
LOAN 24 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE
DOWN BY 6% FROM THE BASELINE PROJECTIONS WHILE EXPENSES ARE 8% BELOW THE
BASELINE FIGURES. BORROWER REPORTED LIMITED TAX AND INSURANCE EXPENSE.
Page - 22
<PAGE>
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.
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:
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: Partial Year Statement Comment: 3/31/96 - BORROWER
REPORTS NO PROPERTY TAX EXPENSE AND MINIMAL INSURANCE EXPENSE.
LOAN 33 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 4% COMPARED TO THE BASELINE AND UP 11% COMPARED TO PREVIOUS YEAR.
EXPENSES ARE DOWN BY 4% COMPARED TO BASELINE FIGURES.
LOAN 34 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 1% COMPARED TO THE BASELINE, WHILE EXPENSES ARE DOWN BY 5% COMPARED TO
THE BASELINE.
LOAN 35 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE
DOWN BY 5% COMPARED TO BASELINE PROJECTIONS, BUT UP 14% FROM PREVIOUS
QUARTER. EXPENSES ARE DOWN BY 8% VERSUS BASELINE NUMBERS.
LOAN 36 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 13% OVER THE BASELINE PROJECTIONS. EXPENSES ARE 12% BELOW BASELINE
LEVELS.
LOAN 37 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 10% COMPARED TO THE BASELINE, WHILE EXPENSES ARE ALSO UP BY 6% OVER THE
BASELINE.
LOAN 38 - 1: Status Comment: ASSUMPTION CLOSED IN JULY.
LOAN 42 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
20% OVER THE BASELINE. EXPENSES ARE UP BY 40%, WITH THE LARGEST VARIANCES
IN PROP. MGMT, UP 108%, AND UTILITIES, UP 72%. LARGE CAP. EXPENSES DUE TO
CARPET REPLACEMENT AND EXTERIOR REPAIRS.
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 IN JUNE.
LOAN 49 - 1: Partial Year Statement Comment: 6/30/96 - REVENUE IS UP
BY 10% OVER THE BASELINE FIGURES. EXPENSES ARE 49% HIGHER THAN BASELINE
NUMBERS. R&M EXPENSE IS 195% HIGHER THAN PREVIOUS YEAR. BORROWER REPORTS DUE
TO DEFICIENCY REPAIRS INCLUDING ROOFING, ASPHALT, AND SEWERS.
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.
Page - 23
<PAGE>
LOAN 51 - 1: Partial Year Statement Comment: 6/30/96 - REVENUE DOWN BY
7% COMPARED TO BASELINE FIGURES. BORROWER REPORTS THAT CAPITAL EXPENSE
HIGH DUE TO REPAIRS REQUIRED IN AN ENGINEERING REPORT. REPLACED AND
REPAIRED ROOF OF PROPERTY AND REPLACED AND REPAIRED PARKING LOT.
LOAN 52 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 5% OVER THE BASELINE FIGURES, WHILE EXPENSES ARE 4% BELOW BASELINE
PROJECTIONS.
LOAN 53 - 1:
LOAN 54 - 1: Partial Year Statement Comment: 6/30/96 - REVENUES ARE UP
BY 14% OVER THE BASELINE PROJECTION. EXPENSES ARE DOWN BY 4% COMPARED TO
BASELINE FIGURES
Page - 24
