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Previous: PROSOFT I NET SOLUTIONS INC, 10-Q, 1998-12-11 |
Next: ATLAS ENERGY FOR THE NINETIES PUBLIC NO 5 LTD, 8-K, 1998-12-11 |
<PAGE>
<PAGE>
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): December 9, 1998
NEWCOURT EQUIPMENT TRUST SECURITIES 1998-2
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Delaware 333-34793 13-7135550
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
</TABLE>
2 Gatehall Drive, Parsippany, NJ 07054
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 658-7581
(Former name or former address, if changed since last report)
<PAGE>
<PAGE>
Item 1. CHANGES IN CONTROL OF REGISTRANT.
Not applicable.
Item 2. ACQUISITION OF DISPOSITION OF ASSETS.
Not applicable.
Item 3. BANKRUPTCY OR RECEIVERSHIP.
Not applicable.
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not applicable.
Item 5. OTHER EVENTS.
On December 9, 1998 made available to prospective investors
certain Computational Data and Model Run Computational Data
setting forth information relating to the issuance of
receivable-backed notes by Newcourt Equipment Trust Securities 1998-2.
The computational data are attached hereto as Exhibit 99.
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not applicable.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
99.1 Certain Computational Data
99.2 Model Run Computational Data
</TABLE>
<PAGE>
<PAGE>
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 hereunto duly authorized.
NEWCOURT EQUIPMENT TRUST
SECURITIES 1998-2
By: ANTIGUA FUNDING CORPORATION
as depositor of Newcourt Equipment Trust
Securities 1998-2
By: /s/ Glenn A. Votek
__________________________________
Glenn A. Votek
Executive Vice President and Treasurer
<PAGE>
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit
Number Page
- -------- ----
<S> <C> <C>
99.1 Certain Computational Data
99.2 Model Run Computational Data
</TABLE>
<PAGE>
<PAGE>
NEWCOURT EQUIPMENT TRUST SECURITIES 1998-2: CERTAIN COMPUTATIONAL DATA
GENERAL INTRODUCTION:
The use of this document is authorized only when preceded or accompanied by the
Prospectus and preliminary Prospectus Supplement, each dated December 4, 1998
(collectively, the "Prospectus"). This document does not constitute an offer to
sell or a solicitation of an offer to buy the securities described in the
Prospectus. Capitalized terms used herein shall have the meanings given them in
the Prospectus.
The following table sets forth the Scheduled Payments on the Contracts which
comprise the Cut-Off Date Contract Pool. For the purposes of this table, we have
assumed there are no delinquencies, losses or prepayments on the Contracts. The
information set forth below is not a prediction of the actual payments which
will be received. The information regarding losses, delinquencies and
Non-Accruals set forth in the Prospectus Supplement under the caption "The
Contracts" should be reviewed together with the information set forth below.
COLLATERAL CASH FLOW
<TABLE>
<CAPTION>
COLLECTION SCHEDULED COLLECTION SCHEDULED
PERIOD CASH FLOW PERIOD CASH FLOW
<S> <C> <C> <C>
December-98 $ 45,687,318.71 October-02 $ 18,428,723.48
January-99 $ 37,090,151.61 November-02 $ 17,123,595.78
February-99 $ 36,445,091.03 December-02 $ 15,503,419.78
March-99 $ 37,333,740.15 January-03 $ 14,434,414.05
April-99 $ 37,940,002.91 February-03 $ 13,124,959.38
May-99 $ 36,552,761.04 March-03 $ 11,876,139.17
June-99 $ 36,955,833.17 April-03 $ 10,432,924.98
July-99 $ 36,616,818.90 May-03 $ 8,835,766.69
August-99 $ 36,208,074.32 June-03 $ 7,382,498.02
September-99 $ 37,016,875.85 July-03 $ 5,972,149.72
October-99 $ 36,237,673.41 August-03 $ 4,413,846.47
November-99 $ 35,835,479.88 September-03 $ 3,097,111.75
December-99 $ 35,914,292.65 October-03 $ 1,751,062.41
January-00 $ 35,436,981.63 November-03 $ 1,483,172.87
February-00 $ 34,750,270.14 December-03 $ 1,258,206.39
March-00 $ 35,147,619.62 January-04 $ 1,206,726.82
April-00 $ 35,517,853.28 February-04 $ 1,150,248.25
May-00 $ 33,672,977.75 March-04 $ 965,043.85
June-00 $ 33,671,510.28 April-04 $ 1,069,679.02
July-00 $ 33,241,327.92 May-04 $ 875,009.40
August-00 $ 32,507,129.21 June-04 $ 606,732.53
September-00 $ 33,087,282.20 July-04 $ 599,035.49
October-00 $ 32,190,643.38 August-04 $ 548,624.58
November-00 $ 31,183,565.25 September-04 $ 506,406.27
December-00 $ 30,491,672.75 October-04 $ 522,595.68
January-01 $ 29,756,035.97 November-04 $ 450,729.96
February-01 $ 28,557,270.39 December-04 $ 355,965.16
March-01 $ 28,522,013.77 January-05 $ 362,971.12
April-01 $ 27,572,285.08 February-05 $ 298,216.47
May-01 $ 26,614,348.56 March-05 $ 254,961.43
June-01 $ 25,943,545.00 April-05 $ 270,941.28
July-01 $ 25,474,013.04 May-05 $ 212,993.37
August-01 $ 24,472,952.01 June-05 $ 237,291.05
September-01 $ 24,533,422.35 July-05 $ 119,940.52
October-01 $ 23,691,290.22 August-05 $ 95,248.51
November-01 $ 23,129,152.43 September-05 $ 8,461.38
December-01 $ 22,451,562.00 October-05 $ 5,829.78
January-02 $ 22,396,149.60 November-05 $ 5,829.78
February-02 $ 21,771,382.27 December-05 $ 628.70
March-02 $ 21,967,320.77 January-06 $ 628.70
April-02 $ 21,450,242.10 February-06 $ 628.70
May-02 $ 20,982,520.25 March-06 $ 628.70
June-02 $ 20,439,375.52 April-06 $ 628.70
July-02 $ 20,331,016.01 May-06 $ 628.70
August-02 $ 19,667,853.97 June-06 $ 628.70
September-02 $ 19,727,513.86 July-06 $ 628.70
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1997-1
<TABLE>
<CAPTION>
97-1 END OF
PERIOD CONTRACT
COLLECTION 97-1 MONTHLY 97-1 MONTHLY PRINCIPAL
PERIODS GROSS LOSSES NET LOSSES RECOVERIES BALANCE
<S> <C> <C> <C> <C>
ICPB 1,146,940,285
Nov-97 44,097 34,632 9,466 1,114,720,448
Dec-97 610,938 606,654 4,284 1,080,989,836
Jan-98 677,792 623,727 54,065 1,046,864,751
Feb-98 1,073,769 1,014,569 59,200 1,015,343,037
Mar-98 2,089,063 1,727,483 361,579 983,590,268
Apr-98 2,359,909 2,226,010 133,899 949,940,415
May-98 3,131,491 2,960,516 170,975 921,043,819
Jun-98 2,911,816 2,616,495 295,321 889,730,686
Ju1-98 2,114,835 1,747,214 367,621 860,145,827
Aug-98 2,871,543 2,426,817 444,726 831,276,843
Sep-98 2,444,214 2,122,147 322,067 804,815,740
Oct-98 2,281,295 1,735,439 545,856 775,700,166
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
<TABLE>
<CAPTION>
96-1 END OF
PERIOD CONTRACT
COLLECTION 96-1 MONTHLY 96-1 MONTHLY PRINCIPAL
PERIODS GROSS LOSSES NET LOSSES RECOVERIES BALANCE
<S> <C> <C> <C> <C>
ICPB 3,185,229,329
Oct-96 303,467 302,968 499 3,004,463,028
Nov-96 637,422 624,412 13,011 2,893,304,616
Dec-96 2,364,817 2,336,638 28,178 2,761,961,760
Jan-97 1,935,933 1,885,153 50,780 2,651,427,459
Feb-97 3,094,356 3,048,421 45,935 2,543,851,829
Mar-97 7,635,951 6,924,045 711,906 2,432,805,248
Apr-97 6,275,042 5,706,951 568,090 2,312,562,721
May-97 4,551,254 4,011,626 539,628 2,214,221,974
Jun-97 3,158,228 2,480,135 678,093 2,108,515,997
Ju1-97 4,860,760 4,092,002 768,758 2,014,497,955
Aug-97 5,288,577 4,768,760 519,817 1,922,729,317
Sep-97 3,225,039 2,483,448 741,591 1,831,563,321
Oct-97 2,984,088 1,694,418 1,289,670 1,746,141,552
Nov-97 3,933,528 2,782,264 1,151,264 1,667,656,526
Dec-97 4,367,593 3,702,482 665,111 1,581,581,071
Jan-98 4,115,299 2,759,260 1,356,039 1,493,489,420
Feb-98 4,431,443 3,371,401 1,060,042 1,421,442,676
Mar-98 4,522,349 3,211,233 1,311,116 1,341,153,693
Apr-98 5,075,934 3,675,747 1,400,187 1,271,153,467
May-98 4,867,229 3,338,547 1,528,682 1,203,866,978
Jun-98 4,674,926 3,486,621 1,188,304 1,130,983,133
Ju1-98 5,571,916 3,813,097 1,758,819 1,065,550,888
Aug-98 2,966,810 1,679,507 1,287,303 1,004,232,634
Sep-98 2,951,913 1,757,917 1,193,996 943,990,485
Oct-98 3,683,348 2,584,849 1,098,500 885,764,304
</TABLE>
<PAGE>
<PAGE>
The following tables set forth historical information with respect to
delinquencies for each of the Capita Equipment Receivables Trust 1997-1 and
Capita Equipment Receivables Trust 1996-1. Although each of these trusts also
are serviced by the Servicer and contain underlying receivables that are similar
to those which comprise the Owner Trust, there can be no assurance that the
Owner Trust will experience similar results with respect to delinquencies.
CAPITA EQUIPMENT RECEIVABLES TRUST 1997-1
HISTORICAL DELINQUENCY EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
% OF AGGREGATE % OF AGGREGATE % OF AGGREGATE % OF AGGREGATE
REQUIRED PAYOFF REQUIRED PAYOFF REQUIRED PAYOFF REQUIRED PAYOFF
AMOUNTS AMOUNTS AMOUNTS AMOUNTS
COLLECTION
PERIODS 31-60 DAYS PAST DUE 61-90 DAYS PAST DUE 91-120 DAYS PAST DUE 120+ DAYS PAST DUE
<S> <C> <C> <C> <C>
11/30/97 2.89% 0.49% 0.00% 0.00%
12/31/97 3.17% 0.86% 0.36% 0.01%
01/31/98 3.34% 0.96% 0.41% 0.26%
02/28/98 6.09% 1.42% 0.59% 0.52%
03/31/98 3.30% 1.26% 0.51% 0.63%
04/30/98 3.46% 1.03% 0.63% 0.69%
05/31/98 3.63% 1.12% 0.61% 0.75%
06/30/98 2.76% 1.14% 0.58% 0.81%
07/31/98 3.28% 1.12% 0.52% 0.85%
08/31/98 3.34% 1.23% 0.53% 0.60%
09/30/98 3.98% 1.18% 0.62% 0.94%
10/31/98 3.93% 1.32% 0.66% 0.98%
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
HISTORICAL DELINQUENCY EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
% OF AGGREGATE % OF AGGREGATE % OF AGGREGATE % OF AGGREGATE
REQUIRED PAYOFF REQUIRED PAYOFF REQUIRED PAYOFF REQUIRED PAYOFF
AMOUNTS AMOUNTS AMOUNTS AMOUNTS
COLLECTION
PERIODS 31-60 DAYS PAST DUE 61-90 DAYS PAST DUE 91-120 DAYS PAST DUE 120+ DAYS PAST DUE
<S> <C> <C> <C> <C>
10/31/96 2.90% 0.64% 0.01% 0.01%
11/30/96 3.49% 0.83% 0.34% 0.00%
12/31/96 4.10% 0.96% 0.39% 0.20%
01/31/97 3.27% 0.97% 0.49% 0.40%
02/28/97 3.70% 0.97% 0.55% 0.55%
03/31/97 3.73% 0.96% 0.46% 0.61%
04/30/97 2.99% 1.08% 0.47% 0.64%
05/31/97 3.06% 0.99% 0.58% 0.63%
06/30/97 3.53% 0.90% 0.57% 0.69%
07/31/97 3.11% 0.90% 0.53% 0.78%
08/31/97 3.58% 0.95% 0.50% 0.80%
09/30/97 3.21% 0.95% 0.48% 0.82%
10/31/97 3.64% 1.07% 0.45% 0.73%
11/30/97 2.78% 0.42% 0.24% 0.16%
12/31/97 3.50% 1.25% 0.54% 0.85%
01/31/98 4.39% 1.21% 0.65% 0.94%
02/28/98 6.83% 2.00% 0.79% 1.09%
03/31/98 3.85% 1.61% 0.98% 1.12%
04/30/98 4.47% 1.54% 0.98% 1.25%
05/31/98 4.46% 1.51% 0.80% 1.41%
06/30/98 3.90% 1.37% 0.77% 1.41%
07/31/98 4.04% 1.42% 0.82% 1.17%
08/31/98 4.08% 1.59% 0.83% 1.00%
09/30/98 4.39% 1.47% 0.91% 1.24%
10/31/98 4.92% 1.55% 0.90% 1.28%
</TABLE>
<PAGE>
<PAGE>
COLLATERAL CHARATERISTICS & CREDIT ENHANCEMENT ASSUMPTIONS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------
DISCOUNTING ASSUMPTIONS
<S> <C>
Blended Discount Rate 5.5930%
Servicing 1.25%
Discount Rate 6.84300000%
COLLATERAL STATISTICS
Initial Balance 1,342,869,225.71
0.01%
Weighted Average Life 1.69
- ------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------
TRANSACTION ECONOMICS
<S> <C>
Excess CF Discount Rate
Bond Proceeds
Accrued Interest
Less Reseve Deposit
Excess Cashflow
Upfront Economics
Total Economics
- -----------------------------------------
</TABLE>
<TABLE>
<CAPTION>
SCENARIO STRESS TEST PARAMETERS
- ------------------------------------------------------------------
<S> <C>
Annual Loss Rate 7.9200%
First Period of Losses 1
Recovery Rate 25.00%
Delay in Recoveries 12
Net Loss to Liquidation 10.053%
Prepayment Rate 6.00%
Residual Realization Rate 0.00%
Restricting Event Level 0.00%
Run to Call? (Yes/No) No
- ------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
RESERVE FUND
- --------------------------------------------------------------------------------
<S> <C> <C>
Initial Deposit 7.00% 94,000,846
Cap 8.25%
Floor 16,785,865
Reinvestment Rate 0.00%
Collections Account Reinvestment Rate 0.00%
- --------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
FLOOR LEVELS ENHANCEMENT
<S> <C> <C> <C>
Class B Floor 4.375% Class A 17.50%
Class C Floor 3.270% Class B 16.35%
Class D Floor 2.510% Class C 12.55%
Class D 7.00%
Class E 5.40%
Class F 4.40%
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
89.50% 8.25%
DEBT ASSUMPTIONS AND CHARACTERISTICS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
LIABILITY PARAMETERS
Coupon Treasury / Start
Class Size (%) Balance Spread Coupon Libor BEY BEY Spread Price WAL Date
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 24.00% 322,288,614 0.10% 5.15400% 5.05% 5.154% 0.10% 100.00000 0.08 1
A-2 6.35% 85,272,196 0.42% 5.39000% 4.97% 5.460% 0.49% 99.99268 0.84 9
A-3 35.00% 470,004,229 0.83% 5.35000% 4.52% 5.420% 0.90% 99.98407 1.71 12
A-4 15.00% 201,430,384 0.98% 5.52000% 4.54% 5.590% 1.05% 99.98320 3.06 31
A-5 9.15% 122,872,534 0.93% 5.45000% 4.52% 5.520% 1.00% 99.98400 2.32 1
B 1.15% 15,442,996 1.23% 5.77000% 4.54% 5.840% 1.30% 99.99949 3.03 9
C 3.80% 51,029,031 1.81% 6.35000% 4.54% 6.440% 1.90% 99.98472 3.31 9
D 5.55% 74,529,242 2.73% 7.26000% 4.53% 7.380% 2.85% 60.88882 0.24 9
100.00%
102.60% 1,377,783,826
- ------------------------------------------------------------------------------------------------------------------------------------
102.60%
<CAPTION>
End Money Market?
Date Window (Yes/No) Rating
- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 - 9 9 Yes A-1+/P-1
A-2 - 12 4 No AAA/Aaa
A-3 - 31 20 No AAA/Aaa
A-4 - 44 14 No AAA/Aaa
A-5 - 50 50 No AAA/Aaa
B - 51 43 No AA/Aa1
C - 65 57 No A/Aa3
D 96 88 No BBB/Baa3
- ---------------------------------------------------------------------------------------------
1,319,511,988
</TABLE>
STRUCTURAL ASSUMPTIONS
- --------------------------------------------------------------------------------
- 6% Prepayments - BE to Class C
- Includes Money Market Tranche
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
DEBT CASH FLOWS
- -----------------------------------------------------------------------------------------------------------------------------------
[A] [B] [C] [D] [E] [F] [G] [H]
Scheduled
Distribution Payments/ Available A-1 A-2 A-3 A-4 A-5
Date Balance Collections Funds Balance Balance Balance Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
12/15/98 1,342,869,226 322,288,614 85,272,196 470,004,229 201,430,384 122,872,534
01/15/99 1,289,303,577 52,347,530 146,348,375 273,142,131 85,272,196 470,004,229 201,430,384 118,453,368
02/15/99 1,245,054,586 43,079,132 128,274,404 232,543,682 85,272,196 470,004,229 201,430,384 114,802,826
03/15/99 1,202,133,156 41,791,671 118,484,514 193,163,270 85,272,196 470,004,229 201,430,384 111,261,808
04/15/99 1,159,039,570 42,002,997 110,648,640 153,624,905 85,272,196 470,004,229 201,430,384 107,706,588
05/15/99 1,116,058,309 41,930,013 102,670,025 114,189,598 85,272,196 470,004,229 201,430,384 104,160,634
06/15/99 1,075,065,559 39,980,754 93,068,996 76,578,750 85,272,196 470,004,229 201,430,384 100,778,732
07/15/99 1,034,355,545 39,735,423 85,501,734 39,227,312 85,272,196 470,004,229 201,430,384 97,420,155
08/15/99 994,609,736 38,808,372 77,493,408 2,760,532 85,272,196 470,004,229 201,430,384 94,141,126
09/15/99 955,873,194 37,835,370 69,683,137 0 61,431,791 470,004,229 201,430,384 90,945,362
10/15/99 917,038,943 37,968,414 63,239,327 0 31,166,624 470,004,229 201,430,384 87,741,536
11/15/99 879,521,896 36,686,648 55,640,265 0 1,928,010 470,004,229 201,430,384 84,646,379
12/15/99 842,964,280 35,761,436 48,654,396 0 0 443,441,350 201,430,384 81,630,376
01/15/00 806,933,107 37,484,062 44,564,282 0 0 415,360,740 201,430,384 78,657,804
02/15/00 771,895,982 36,434,484 40,158,383 0 0 388,054,833 201,430,384 75,767,242
03/15/00 738,008,997 35,243,271 35,759,618 0 0 361,645,278 201,430,384 72,971,565
04/15/00 704,346,351 34,978,983 34,978,983 0 0 335,619,585 201,430,384 69,985,374
05/15/00 670,933,036 34,689,223 34,689,223 0 0 310,028,532 201,430,384 66,779,425
06/15/00 639,567,814 32,600,665 32,600,665 0 0 286,262,983 201,430,384 63,513,104
07/15/00 608,720,700 32,043,470 32,043,470 0 0 260,467,951 201,430,384 60,985,363
08/15/00 578,724,358 31,153,602 31,153,602 0 0 232,876,430 201,430,384 60,985,363
09/15/00 549,799,613 30,043,718 30,043,718 0 0 206,240,534 201,430,384 60,985,363
10/15/00 520,906,631 29,974,341 29,974,341 0 0 179,525,134 201,430,384 60,985,363
11/15/00 493,180,526 28,769,670 28,769,670 0 0 153,865,202 201,430,384 60,985,363
12/15/00 466,677,495 27,509,896 27,509,896 0 0 129,321,762 201,430,384 60,985,363
01/15/01 441,133,447 26,514,663 26,514,663 0 0 105,636,525 201,430,384 60,985,363
02/15/01 416,559,125 25,508,673 25,508,673 0 0 82,825,072 201,430,384 60,985,363
03/15/01 393,269,390 24,188,566 24,188,566 0 0 61,206,428 201,430,384 60,985,363
04/15/01 370,396,028 23,737,379 23,737,379 0 0 39,918,327 201,430,384 60,985,363
05/15/01 348,582,568 22,642,656 22,642,656 0 0 19,606,213 201,430,384 60,985,363
06/15/01 327,809,183 21,567,189 21,567,189 0 0 256,286 201,430,384 60,985,363
07/15/01 307,851,620 20,718,394 20,718,394 0 0 0 183,077,630 60,985,363
08/15/01 288,553,351 20,026,251 20,026,251 0 0 0 165,054,378 60,985,363
09/15/01 270,259,720 18,989,562 18,989,562 0 0 0 147,964,807 60,985,363
10/15/01 252,236,498 18,687,941 18,687,941 0 0 0 131,079,189 60,985,363
11/15/01 235,076,784 17,793,030 17,793,030 0 0 0 114,992,034 60,985,363
12/15/01 218,577,026 17,102,795 17,102,795 0 0 0 99,503,238 60,985,363
01/15/02 202,796,632 16,354,564 16,354,564 0 0 0 84,674,237 60,985,363
02/15/02 187,322,733 16,020,124 16,020,124 0 0 0 70,095,025 60,985,363
03/15/02 172,508,778 15,333,555 15,333,555 0 0 0 56,119,198 60,985,363
04/15/02 157,829,824 15,173,451 15,173,451 0 0 0 42,223,756 60,985,363
05/15/02 143,723,864 14,575,924 14,575,924 0 0 0 28,846,631 60,985,363
06/15/02 130,148,130 14,022,388 14,022,388 0 0 0 15,946,814 60,985,363
07/15/02 117,136,068 13,436,638 13,436,638 0 0 0 3,559,266 60,985,363
08/15/02 104,417,962 13,121,434 13,121,434 0 0 0 0 52,401,748
09/15/02 92,313,102 12,487,761 12,487,761 0 0 0 0 40,823,937
10/15/02 80,390,504 12,286,170 12,286,170 0 0 0 0 29,382,524
11/15/02 69,422,172 11,312,862 11,312,862 0 0 0 0 18,850,036
12/15/02 59,386,017 10,362,191 10,362,191 0 0 0 0 9,208,959
01/15/03 50,431,460 9,262,328 9,262,328 0 0 0 0 613,505
02/15/03 42,226,260 8,494,917 8,494,917 0 0 0 0 0
03/15/03 34,880,161 7,617,630 7,617,630 0 0 0 0 0
04/15/03 28,336,735 6,797,078 6,797,078 0 0 0 0 0
05/15/03 22,675,625 5,896,397 5,896,397 0 0 0 0 0
06/15/03 17,950,896 4,941,803 4,941,803 0 0 0 0 0
07/15/03 14,060,561 4,089,216 4,089,216 0 0 0 0 0
08/15/03 10,957,453 3,283,993 3,283,993 0 0 0 0 0
09/15/03 8,690,776 2,429,360 2,429,360 0 0 0 0 0
10/15/03 7,114,898 1,720,610 1,720,610 0 0 0 0 0
11/15/03 6,221,974 1,019,378 1,019,378 0 0 0 0 0
12/15/03 5,473,532 857,580 857,580 0 0 0 0 0
01/15/04 4,845,009 721,747 721,747 0 0 0 0 0
02/15/04 4,251,779 672,225 672,225 0 0 0 0 0
03/15/04 3,695,270 622,480 622,480 0 0 0 0 0
04/15/04 3,233,239 516,363 516,363 0 0 0 0 0
<CAPTION>
[I] [J] [K] [L] [M] [N] [O] [P]
Distribution B C D A-1 A-2 A-3 A-4
Date Balance Balance Balance Servicing Interest Interest Interest Interest
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
12/15/98 15,442,996 51,029,031 74,529,242
01/15/99 15,442,996 51,029,031 74,529,242 1,398,822 1,430,371 383,014 2,095,436 926,580
02/15/99 15,442,996 51,029,031 74,529,242 1,343,025 1,251,355 383,014 2,095,436 926,580
03/15/99 15,442,996 51,029,031 74,529,242 1,296,932 898,898 383,014 2,095,436 926,580
04/15/99 15,442,996 51,029,031 74,529,242 1,252,222 857,291 383,014 2,095,436 926,580
05/15/99 15,442,996 51,029,031 74,529,242 1,207,333 703,807 383,014 2,095,436 926,580
06/15/99 15,442,996 51,029,031 74,529,242 1,162,561 474,096 383,014 2,095,436 926,580
07/15/99 15,442,996 51,029,031 74,529,242 1,119,860 328,906 383,014 2,095,436 926,580
08/15/99 15,442,996 51,029,031 74,529,242 1,077,454 179,713 383,014 2,095,436 926,580
09/15/99 14,463,871 47,793,660 69,803,898 1,036,052 11,856 383,014 2,095,436 926,580
10/15/99 13,876,247 45,851,947 66,967,975 995,701 0 275,931 2,095,436 926,580
11/15/99 13,308,555 43,976,095 64,228,244 955,249 0 139,990 2,095,436 926,580
12/15/99 12,755,381 42,148,214 61,558,576 916,169 0 8,660 2,095,436 926,580
01/15/00 12,210,172 40,346,655 58,927,352 878,088 0 0 1,977,009 926,580
02/15/00 11,680,005 38,594,799 56,368,720 840,555 0 0 1,851,817 926,580
03/15/00 11,167,241 36,959,424 56,368,720 804,058 0 0 1,730,078 926,580
04/15/00 10,657,872 35,731,086 56,368,720 768,759 0 0 1,612,335 926,580
05/15/00 10,152,276 34,400,242 56,368,720 733,694 0 0 1,496,304 926,580
06/15/00 9,677,671 33,188,901 56,368,720 698,889 0 0 1,382,211 926,580
07/15/00 9,677,671 33,188,901 56,368,720 666,216 0 0 1,276,256 926,580
08/15/00 9,677,671 33,188,901 56,368,720 634,084 0 0 1,161,253 926,580
09/15/00 9,677,671 33,188,901 56,368,720 602,838 0 0 1,038,241 926,580
10/15/00 9,677,671 33,188,901 56,368,720 572,708 0 0 919,489 926,580
11/15/00 9,677,671 33,188,901 56,368,720 542,611 0 0 800,383 926,580
12/15/00 9,677,671 33,188,901 56,368,720 513,730 0 0 685,982 926,580
01/15/01 9,677,671 33,188,901 56,368,720 486,122 0 0 576,560 926,580
02/15/01 9,677,671 33,188,901 56,368,720 459,514 0 0 470,963 926,580
03/15/01 9,677,671 33,188,901 56,368,720 433,916 0 0 369,262 926,580
04/15/01 9,677,671 33,188,901 56,368,720 409,656 0 0 272,879 926,580
05/15/01 9,677,671 33,188,901 56,368,720 385,829 0 0 177,969 926,580
06/15/01 9,677,671 33,188,901 56,368,720 363,107 0 0 87,411 926,580
07/15/01 9,677,671 33,188,901 56,368,720 341,468 0 0 1,143 926,580
08/15/01 9,677,671 33,188,901 56,368,720 320,679 0 0 0 842,157
09/15/01 9,677,671 33,188,901 56,368,720 300,576 0 0 0 759,250
10/15/01 9,677,671 33,188,901 56,368,720 281,521 0 0 0 680,638
11/15/01 9,677,671 33,188,901 56,368,720 262,746 0 0 0 602,964
12/15/01 9,677,671 33,188,901 56,368,720 244,872 0 0 0 528,963
01/15/02 9,677,671 33,188,901 56,368,720 227,684 0 0 0 457,715
02/15/02 9,677,671 33,188,901 56,368,720 211,246 0 0 0 389,501
03/15/02 9,677,671 33,188,901 56,368,720 195,128 0 0 0 322,437
04/15/02 9,677,671 33,188,901 56,368,720 179,697 0 0 0 258,148
05/15/02 9,677,671 33,188,901 56,368,720 164,406 0 0 0 194,229
06/15/02 9,677,671 33,188,901 56,368,720 149,712 0 0 0 132,695
07/15/02 9,677,671 33,188,901 56,368,720 135,571 0 0 0 73,355
08/15/02 9,677,671 33,188,901 56,368,720 122,017 0 0 0 16,373
09/15/02 9,677,671 33,188,901 56,368,720 108,769 0 0 0 0
10/15/02 9,677,671 33,188,901 56,368,720 96,159 0 0 0 0
11/15/02 9,677,671 33,188,901 56,368,720 83,740 0 0 0 0
12/15/02 9,677,671 33,188,901 56,368,720 72,315 0 0 0 0
01/15/03 9,677,671 33,188,901 56,368,720 61,860 0 0 0 0
02/15/03 2,414,766 33,188,901 56,368,720 52,533 0 0 0 0
03/15/03 0 28,558,290 56,368,720 43,986 0 0 0 0
04/15/03 0 22,289,697 56,368,720 36,334 0 0 0 0
05/15/03 0 16,881,798 56,368,720 29,517 0 0 0 0
06/15/03 0 12,393,979 56,368,720 23,620 0 0 0 0
07/15/03 0 8,730,078 56,368,720 18,699 0 0 0 0
08/15/03 0 5,847,959 56,368,720 14,646 0 0 0 0
09/15/03 0 3,801,990 56,368,720 11,414 0 0 0 0
10/15/03 0 2,451,582 56,368,720 9,053 0 0 0 0
11/15/03 0 1,793,619 56,368,720 7,411 0 0 0 0
12/15/03 0 1,293,042 56,368,720 6,481 0 0 0 0
01/15/04 0 924,869 56,368,720 5,702 0 0 0 0
02/15/04 0 603,616 56,368,720 5,047 0 0 0 0
03/15/04 0 329,790 56,368,720 4,429 0 0 0 0
04/15/04 0 160,052 56,368,720 3,849 0 0 0 0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Debt Cash Flows
- -----------------------------------------------------------------------------------------------------------
[A] [B] [C] [D] [E] [F] [G] [H]
Scheduled
Distribution Payments/ Available A-1 A-2 A-3 A-4 A-5
Date Balance Collections Funds Balance Balance Balance Balance Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
05/15/04 2,732,443 544,736 544,736 0 0 0 0 0
06/15/04 2,327,321 440,163 440,163 0 0 0 0 0
07/15/04 2,047,244 307,677 307,677 0 0 0 0 0
08/15/04 1,775,527 293,139 293,139 0 0 0 0 0
09/15/04 1,530,274 261,789 261,789 0 0 0 0 0
10/15/04 1,307,310 235,972 235,972 0 0 0 0 0
11/15/04 1,081,670 236,242 236,242 0 0 0 0 0
12/15/04 889,779 201,220 201,220 0 0 0 0 0
01/15/05 739,924 158,116 158,116 0 0 0 0 0
02/15/05 590,041 157,235 157,235 0 0 0 0 0
03/15/05 468,590 127,955 127,955 0 0 0 0 0
04/15/05 366,316 107,963 107,963 0 0 0 0 0
05/15/05 259,848 111,484 111,484 0 0 0 0 0
06/15/05 177,487 86,642 86,642 0 0 0 0 0
07/15/05 87,728 93,442 93,442 0 0 0 0 0
08/15/05 43,191 47,835 47,835 0 0 0 0 0
09/15/05 8,626 37,457 37,457 0 0 0 0 0
10/15/05 5,637 5,506 5,506 0 0 0 0 0
11/15/05 3,610 4,179 4,179 0 0 0 0 0
12/15/05 1,626 3,765 3,765 0 0 0 0 0
01/15/06 1,409 1,684 1,684 0 0 0 0 0
02/15/06 1,196 1,433 1,433 0 0 0 0 0
03/15/06 986 1,182 1,182 0 0 0 0 0
04/15/06 781 978 978 0 0 0 0 0
05/15/06 579 805 805 0 0 0 0 0
06/15/06 381 626 626 0 0 0 0 0
07/15/06 188 486 486 0 0 0 0 0
08/15/06 (0) 333 333 0 0 0 0 0
09/15/06 (0) 71 71 0 0 0 0 0
10/15/06 (0) 14 14 0 0 0 0 0
11/15/06 (0) 9 9 0 0 0 0 0
12/15/06 (0) 6 6 0 0 0 0 0
01/15/07 (0) 3 3 0 0 0 0 0
02/15/07 (0) 2 2 0 0 0 0 0
03/15/07 (0) 2 2 0 0 0 0 0
04/15/07 (0) 2 2 0 0 0 0 0
05/15/07 (0) 1 1 0 0 0 0 0
06/15/07 (0) 1 1 0 0 0 0 0
07/15/07 (0) 1 1 0 0 0 0 0
08/15/07 (0) (0) (0) 0 0 0 0 0
09/15/07 (0) (0) (0) 0 0 0 0 0
10/15/07 (0) (0) (0) 0 0 0 0 0
11/15/07 (0) (0) (0) 0 0 0 0 0
12/15/07 (0) (0) (0) 0 0 0 0 0
01/15/08 0 (0) (0) 0 0 0 0 0
Total 1,363,230,568 1,986,330,496
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------
[I] [J] [K] [L] [M] [N] [O] [P]
Distribution B C D A-1 A-2 A-3 A-4
Date Balance Balance Balance Servicing Interest Interest Interest Interest
<S> <C> <C> <C> <C> <C> <C> <C> <C>
05/15/04 0 0 56,329,281 3,368 0 0 0 0
06/15/04 0 0 56,232,757 2,846 0 0 0 0
07/15/04 0 0 56,232,757 2,424 0 0 0 0
08/15/04 0 0 56,232,757 2,133 0 0 0 0
09/15/04 0 0 56,232,757 1,850 0 0 0 0
10/15/04 0 0 56,232,757 1,594 0 0 0 0
11/15/04 0 0 56,232,757 1,362 0 0 0 0
12/15/04 0 0 56,232,757 1,127 0 0 0 0
01/15/05 0 0 56,232,757 927 0 0 0 0
02/15/05 0 0 56,232,757 771 0 0 0 0
03/15/05 0 0 56,232,757 615 0 0 0 0
04/15/05 0 0 56,232,757 488 0 0 0 0
05/15/05 0 0 56,232,757 382 0 0 0 0
06/15/05 0 0 56,232,757 271 0 0 0 0
07/15/05 0 0 56,232,757 185 0 0 0 0
08/15/05 0 0 56,232,757 91 0 0 0 0
09/15/05 0 0 56,232,757 45 0 0 0 0
10/15/05 0 0 56,232,757 9 0 0 0 0
11/15/05 0 0 56,232,757 6 0 0 0 0
12/15/05 0 0 56,232,757 4 0 0 0 0
01/15/06 0 0 56,232,757 2 0 0 0 0
02/15/06 0 0 56,232,757 1 0 0 0 0
03/15/06 0 0 56,232,757 1 0 0 0 0
04/15/06 0 0 56,232,757 1 0 0 0 0
05/15/06 0 0 56,232,757 1 0 0 0 0
06/15/06 0 0 56,232,757 1 0 0 0 0
07/15/06 0 0 56,232,757 0 0 0 0 0
08/15/06 0 0 56,232,757 0 0 0 0 0
09/15/06 0 0 56,232,757 (0) 0 0 0 0
10/15/06 0 0 56,232,757 (0) 0 0 0 0
11/15/06 0 0 56,232,757 (0) 0 0 0 0
12/15/06 0 0 56,232,757 (0) 0 0 0 0
01/15/07 0 0 56,232,757 (0) 0 0 0 0
02/15/07 0 0 56,232,757 (0) 0 0 0 0
03/15/07 0 0 56,232,757 (0) 0 0 0 0
04/15/07 0 0 56,232,757 (0) 0 0 0 0
05/15/07 0 0 56,232,757 (0) 0 0 0 0
06/15/07 0 0 56,232,757 (0) 0 0 0 0
07/15/07 0 0 56,232,757 (0) 0 0 0 0
08/15/07 0 0 56,232,757 (0) 0 0 0 0
09/15/07 0 0 56,232,757 (0) 0 0 0 0
10/15/07 0 0 56,232,757 (0) 0 0 0 0
11/15/07 0 0 56,232,757 (0) 0 0 0 0
12/15/07 0 0 56,232,757 (0) 0 0 0 0
01/15/08 0 0 56,232,757 (0) 0 0 0 0
Total 28,409,144 6,136,293 3,871,710 43,032,769 33,982,399
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
DEBT CASH FLOWS
- -----------------------------------------------------------------------------------------------------------------------------------
[Q] [R] [S] [T] [U] [V] [W] [X]
Distribution A-5 B C D A-1 A-2 A-3 A-4
Date Interest Interest Interest Interest Principal Principal Principal Principal
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
12/15/98
01/15/99 558,046 74,255 270,029 450,902 49,146,483 0 0 0
02/15/99 537,976 74,255 270,029 450,902 40,598,449 0 0 0
03/15/99 521,396 74,255 270,029 450,902 39,380,412 0 0 0
04/15/99 505,314 74,255 270,029 450,902 39,538,366 0 0 0
05/15/99 489,167 74,255 270,029 450,902 39,435,307 0 0 0
06/15/99 473,063 74,255 270,029 450,902 37,610,848 0 0 0
07/15/99 457,703 74,255 270,029 450,902 37,351,437 0 0 0
08/15/99 442,450 74,255 270,029 450,902 36,466,780 0 0 0
09/15/99 427,558 74,255 270,029 450,902 2,760,532 23,840,405 0 0
10/15/99 413,044 69,547 252,908 422,314 0 30,265,167 0 0
11/15/99 398,493 66,722 242,633 405,156 0 29,238,614 0 0
12/15/99 384,436 63,992 232,707 388,581 0 1,928,010 26,562,879 0
01/15/00 370,738 61,332 223,034 372,429 0 0 28,080,610 0
02/15/00 357,238 58,711 213,501 356,510 0 0 27,305,907 0
03/15/00 344,110 56,161 204,231 341,031 0 0 26,409,555 0
04/15/00 331,413 53,696 195,577 341,031 0 0 26,025,693 0
05/15/00 317,850 51,247 189,077 341,031 0 0 25,591,053 0
06/15/00 303,290 48,816 182,035 341,031 0 0 23,765,549 0
07/15/00 288,455 46,533 175,625 341,031 0 0 25,795,032 0
08/15/00 276,975 46,533 175,625 341,031 0 0 27,591,521 0
09/15/00 276,975 46,533 175,625 341,031 0 0 26,635,895 0
10/15/00 276,975 46,533 175,625 341,031 0 0 26,715,400 0
11/15/00 276,975 46,533 175,625 341,031 0 0 25,659,932 0
12/15/00 276,975 46,533 175,625 341,031 0 0 24,543,440 0
01/15/01 276,975 46,533 175,625 341,031 0 0 23,685,237 0
02/15/01 276,975 46,533 175,625 341,031 0 0 22,811,453 0
03/15/01 276,975 46,533 175,625 341,031 0 0 21,618,645 0
04/15/01 276,975 46,533 175,625 341,031 0 0 21,288,101 0
05/15/01 276,975 46,533 175,625 341,031 0 0 20,312,113 0
06/15/01 276,975 46,533 175,625 341,031 0 0 19,349,927 0
07/15/01 276,975 46,533 175,625 341,031 0 0 256,286 18,352,754
08/15/01 276,975 46,533 175,625 341,031 0 0 0 18,023,251
09/15/01 276,975 46,533 175,625 341,031 0 0 0 17,089,571
10/15/01 276,975 46,533 175,625 341,031 0 0 0 16,885,618
11/15/01 276,975 46,533 175,625 341,031 0 0 0 16,087,155
12/15/01 276,975 46,533 175,625 341,031 0 0 0 15,488,796
01/15/02 276,975 46,533 175,625 341,031 0 0 0 14,829,001
02/15/02 276,975 46,533 175,625 341,031 0 0 0 14,579,212
03/15/02 276,975 46,533 175,625 341,031 0 0 0 13,975,827
04/15/02 276,975 46,533 175,625 341,031 0 0 0 13,895,442
05/15/02 276,975 46,533 175,625 341,031 0 0 0 13,377,125
06/15/02 276,975 46,533 175,625 341,031 0 0 0 12,899,818
07/15/02 276,975 46,533 175,625 341,031 0 0 0 12,387,548
08/15/02 276,975 46,533 175,625 341,031 0 0 0 3,559,266
09/15/02 237,991 46,533 175,625 341,031 0 0 0 0
10/15/02 185,409 46,533 175,625 341,031 0 0 0 0
11/15/02 133,446 46,533 175,625 341,031 0 0 0 0
12/15/02 85,611 46,533 175,625 341,031 0 0 0 0
01/15/03 41,824 46,533 175,625 341,031 0 0 0 0
02/15/03 2,786 46,533 175,625 341,031 0 0 0 0
03/15/03 0 11,611 175,625 341,031 0 0 0 0
04/15/03 0 0 151,121 341,031 0 0 0 0
05/15/03 0 0 117,950 341,031 0 0 0 0
06/15/03 0 0 89,333 341,031 0 0 0 0
07/15/03 0 0 65,585 341,031 0 0 0 0
08/15/03 0 0 46,197 341,031 0 0 0 0
09/15/03 0 0 30,945 341,031 0 0 0 0
10/15/03 0 0 20,119 341,031 0 0 0 0
11/15/03 0 0 12,973 341,031 0 0 0 0
12/15/03 0 0 9,491 341,031 0 0 0 0
01/15/04 0 0 6,842 341,031 0 0 0 0
02/15/04 0 0 4,894 341,031 0 0 0 0
03/15/04 0 0 3,194 341,031 0 0 0 0
04/15/04 0 0 1,745 341,031 0 0 0 0
05/15/04 0 0 847 341,031 0 0 0 0
06/15/04 0 0 0 340,792 0 0 0 0
07/15/04 0 0 0 340,208 0 0 0 0
08/15/04 0 0 0 340,208 0 0 0 0
<CAPTION>
[Y] [Z] [AA] [AB] [AC] [AD] [AE] [AF] [AG]
Interim Required
Deposit to Cash Cash Withdrawal Ending
Distribution A-5 B C D Cash Collateral Collateral Cash Cash
Date Principal Principal Principal Principal Collateral Balance Balance Collateral Collateral
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
12/15/98 94,000,846
01/15/99 4,419,166 0 0 0 (8,805,573) 85,195,272 94,000,846 0 85,195,272
02/15/99 3,650,542 0 0 0 (8,502,429) 76,692,843 94,000,846 0 76,692,843
03/15/99 3,541,018 0 0 0 (8,047,199) 68,645,644 94,000,846 0 68,645,644
04/15/99 3,555,221 0 0 0 (7,905,632) 60,740,012 94,000,846 0 60,740,012
05/15/99 3,545,954 0 0 0 (7,651,770) 53,088,242 94,000,846 0 53,088,242
06/15/99 3,381,902 0 0 0 (7,321,931) 45,766,311 94,000,846 0 45,766,311
07/15/99 3,358,576 0 0 0 (7,081,275) 38,685,036 94,000,846 0 38,685,036
08/15/99 3,279,029 0 0 0 (6,837,269) 31,847,766 94,000,846 0 31,847,766
09/15/99 3,195,765 979,125 3,235,371 4,725,344 (6,576,853) 25,270,914 94,000,846 0 25,270,914
10/15/99 3,203,826 587,624 1,941,713 2,835,922 (6,317,297) 18,953,616 94,000,846 0 18,953,616
11/15/99 3,095,156 567,692 1,875,852 2,739,732 (6,060,657) 12,892,959 94,000,846 0 12,892,959
12/15/99 3,016,003 553,174 1,827,881 2,669,668 (5,812,739) 7,080,221 94,000,846 0 7,080,221
01/15/99 2,972,572 545,209 1,801,559 2,631,224 (3,356,322) 3,723,899 66,571,981 0 3,723,899
02/15/00 2,890,563 530,167 1,751,856 2,558,632 (3,207,552) 516,347 63,681,419 0 516,347
03/15/00 2,795,676 512,764 1,635,375 0 (516,347) 0 60,885,742 0 0
04/15/00 2,986,192 509,369 1,228,339 0 0 0 58,108,574 0 0
05/15/00 3,205,949 505,596 1,330,843 0 0 0 55,351,976 0 0
06/15/00 3,266,321 474,605 1,211,341 0 0 0 52,764,345 0 0
07/15/00 2,527,741 0 0 0 0 0 50,219,458 0 0
08/15/00 0 0 0 0 0 0 47,744,760 0 0
09/15/00 0 0 0 0 0 0 45,358,468 0 0
10/15/00 0 0 0 0 0 0 42,974,797 0 0
11/15/00 0 0 0 0 0 0 40,687,393 0 0
12/15/00 0 0 0 0 0 0 38,500,893 0 0
01/15/00 0 0 0 0 0 0 36,393,509 0 0
02/15/01 0 0 0 0 0 0 34,366,128 0 0
03/15/01 0 0 0 0 0 0 32,444,725 0 0
04/15/01 0 0 0 0 0 0 30,557,672 0 0
05/15/01 0 0 0 0 0 0 28,758,062 0 0
06/15/01 0 0 0 0 0 0 27,044,258 0 0
07/15/01 0 0 0 0 0 0 25,397,759 0 0
08/15/01 0 0 0 0 0 0 23,805,651 0 0
09/15/01 0 0 0 0 0 0 22,296,427 0 0
10/15/01 0 0 0 0 0 0 20,809,511 0 0
11/15/01 0 0 0 0 0 0 19,393,835 0 0
12/15/01 0 0 0 0 0 0 18,032,605 0 0
01/15/01 0 0 0 0 0 0 16,785,865 0 0
02/15/02 0 0 0 0 0 0 16,785,865 0 0
03/15/02 0 0 0 0 0 0 16,785,865 0 0
04/15/02 0 0 0 0 0 0 16,785,865 0 0
05/15/02 0 0 0 0 0 0 16,785,865 0 0
06/15/02 0 0 0 0 0 0 16,785,865 0 0
07/15/02 0 0 0 0 0 0 16,785,865 0 0
08/15/02 8,583,615 0 0 0 0 0 16,785,865 0 0
09/15/02 11,577,812 0 0 0 0 0 16,785,865 0 0
10/15/02 11,441,413 0 0 0 0 0 16,785,865 0 0
11/15/02 10,532,488 0 0 0 0 0 16,785,865 0 0
12/15/02 9,641,077 0 0 0 0 0 16,785,865 0 0
01/15/02 8,595,455 0 0 0 0 0 16,785,865 0 0
02/15/03 613,505 7,262,904 0 0 0 0 16,785,865 0 0
03/15/03 0 2,414,766 4,630,611 0 0 0 16,785,865 0 0
04/15/03 0 0 6,268,593 0 0 0 16,785,865 0 0
05/15/03 0 0 5,407,899 0 0 0 16,785,865 0 0
06/15/03 0 0 4,487,819 0 0 0 16,785,865 0 0
07/15/03 0 0 3,663,901 0 0 0 16,785,865 0 0
08/15/03 0 0 2,882,119 0 0 0 16,785,865 0 0
09/15/03 0 0 2,045,970 0 0 0 16,785,865 0 0
10/15/03 0 0 1,350,408 0 0 0 16,785,865 0 0
11/15/03 0 0 657,963 0 0 0 16,785,865 0 0
12/15/03 0 0 500,577 0 0 0 16,785,865 0 0
01/15/03 0 0 368,173 0 0 0 16,785,865 0 0
02/15/04 0 0 321,253 0 0 0 16,785,865 0 0
03/15/04 0 0 273,826 0 0 0 16,785,865 0 0
04/15/04 0 0 169,738 0 0 0 16,785,865 0 0
05/15/04 0 0 160,052 39,438 0 0 16,785,865 0 0
06/15/04 0 0 0 96,524 0 0 16,785,865 0 0
07/15/04 0 0 0 0 (34,955) 0 16,785,865 0 0
08/15/04 0 0 0 0 (49,202) 0 16,785,865 0 0
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
DEBT CASH FLOWS
- -----------------------------------------------------------------------------------------------------------------------------------
[Q] [R] [S] [T] [U] [V] [W] [X] [Y] [Z]
Distribution A-5 B C D A-1 A-2 A-3 A-4 A-5 B
Date Interest Interest Interest Interest Principal Principal Principal Principal Principal Principal
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
09/15/2005 0 0 0 340,208 0 0 0 0 0 0
10/15/2005 0 0 0 340,208 0 0 0 0 0 0
11/15/2005 0 0 0 340,208 0 0 0 0 0 0
12/15/2005 0 0 0 340,208 0 0 0 0 0 0
01/15/2006 0 0 0 340,208 0 0 0 0 0 0
02/15/2006 0 0 0 340,208 0 0 0 0 0 0
03/15/2006 0 0 0 340,208 0 0 0 0 0 0
04/15/2006 0 0 0 340,208 0 0 0 0 0 0
05/15/2006 0 0 0 340,208 0 0 0 0 0 0
06/15/2006 0 0 0 340,208 0 0 0 0 0 0
07/15/2006 0 0 0 340,208 0 0 0 0 0 0
08/15/2006 0 0 0 340,208 0 0 0 0 0 0
09/15/2006 0 0 0 340,208 0 0 0 0 0 0
10/15/2006 0 0 0 340,208 0 0 0 0 0 0
11/15/2006 0 0 0 340,208 0 0 0 0 0 0
12/15/2006 0 0 0 340,208 0 0 0 0 0 0
01/15/2007 0 0 0 340,208 0 0 0 0 0 0
02/15/2007 0 0 0 340,208 0 0 0 0 0 0
03/15/2007 0 0 0 340,208 0 0 0 0 0 0
04/15/2007 0 0 0 340,208 0 0 0 0 0 0
05/15/2007 0 0 0 340,208 0 0 0 0 0 0
06/15/2007 0 0 0 340,208 0 0 0 0 0 0
07/15/2007 0 0 0 340,208 0 0 0 0 0 0
08/15/2007 0 0 0 340,208 0 0 0 0 0 0
09/15/2007 0 0 0 340,208 0 0 0 0 0 0
10/15/2007 0 0 0 340,208 0 0 0 0 0 0
11/15/2007 0 0 0 340,208 0 0 0 0 0 0
12/15/2007 0 0 0 340,208 0 0 0 0 0 0
01/15/2008 0 0 0 340,208 0 0 0 0 0 0
Total 15,533,185 2,699,200 10,722,808 38,365,420 322,288,614 85,272,196 470,004,229 201,430,384 122,872,534 15,442,996
<CAPTION>
[AA] [AB] [AC] [AD] [AE] [AF] [AG]
Interim Required
Deposit to Cash Cash Withdrawal Ending
Distribution C D Cash Collateral Collateral Cash Cash
Date Principal Principal Collateral Balance Balance Collateral Collateral
<S> <C> <C> <C> <C> <C> <C> <C>
09/15/2005 0 0 (302,796) 0 16,785,865 0 0
10/15/2005 0 0 (334,712) 0 16,785,865 0 0
11/15/2005 0 0 (336,035) 0 16,785,865 0 0
12/15/2005 0 0 (336,447) 0 16,785,865 0 0
01/15/2006 0 0 (338,526) 0 16,785,865 0 0
02/15/2006 0 0 (338,777) 0 16,785,865 0 0
03/15/2006 0 0 (339,028) 0 16,785,865 0 0
04/15/2006 0 0 (339,231) 0 16,785,865 0 0
05/15/2006 0 0 (339,404) 0 16,785,865 0 0
06/15/2006 0 0 (339,583) 0 16,785,865 0 0
07/15/2006 0 0 (339,723) 0 16,785,865 0 0
08/15/2006 0 0 (339,875) 0 16,785,865 0 0
09/15/2006 0 0 (340,138) 0 16,785,865 0 0
10/15/2006 0 0 (340,194) 0 16,785,865 0 0
11/15/2006 0 0 (340,199) 0 16,785,865 0 0
12/15/2006 0 0 (340,202) 0 16,785,865 0 0
01/15/2007 0 0 (340,205) 0 16,785,865 0 0
02/15/2007 0 0 (340,206) 0 16,785,865 0 0
03/15/2007 0 0 (340,206) 0 16,785,865 0 0
04/15/2007 0 0 (340,207) 0 16,785,865 0 0
05/15/2007 0 0 (340,207) 0 16,785,865 0 0
06/15/2007 0 0 (340,207) 0 16,785,865 0 0
07/15/2007 0 0 (340,208) 0 16,785,865 0 0
08/15/2007 0 0 (340,208) 0 16,785,865 0 0
09/15/2007 0 0 (340,208) 0 16,785,865 0 0
10/15/2007 0 0 (340,208) 0 16,785,865 0 0
11/15/2007 0 0 (340,208) 0 16,785,865 0 0
12/15/2007 0 0 (340,208) 0 16,785,865 0 0
01/15/2008 0 0 (340,208) 0 16,785,865 0 0
Total 51,029,031 18,296,485 (106,158,829) 529,099,082 3,295,528,265 0 623,099,928
</TABLE>
<PAGE>
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