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) November 25, 1996
TRUST CREATED BY MIDLAND REALTY ACCEPTANCE CORPORATION
(under a Pooling & Servicing Agreement
dated as of September 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)
Missouri 333-03885-01 36-4106421
(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)
MRAC Series 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 November 25, 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
November 25, 1996.
Loan data file as of the November 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 3.20 of the
Pooling & Servicing Agreement dated as of September
1, 1996
By: Midland Data Systems, Inc., its General
Partner
/s/ Lawrence D. Ashley
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: November 25, 1996
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Statement to the Certificateholders 3
dated as of October 25, 1996
Loan data file as of November 1996 24
Page - 2
ABN AMRO
LaSalle National Bank
Administrator:
Barb Marik (800) 246-5761
135 S. LaSalle Street Suite 1740
Chicago, IL 60603
Payment Date: 11/25/96
Prior Payment: 10/25/96
Record Date: 10/31/96
WAC: 9.065353%
WAMM: 117
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
<TABLE>
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 89,941,000.00 89,540,631.83 376,167.79
597706AA8 1000.000000000 995.548546603 4.182383896
A-2 68,712,000.00 68,712,000.00 0.00
597706AB6 1000.000000000 1000.000000000 0.000000000
A-3 91,844,000.00 91,844,000.00 0.00
597706AC4 1000.000000000 1000.000000000 0.000000000
A-EC 317,315,000.00 316,914,631.83 0.00
597706AJ9 1000.000000000 998.738262704 0.000000000
B 20,417,000.00 20,417,000.00 0.00
597706AD2 1000.000000000 1000.000000000 0.000000000
C 25,985,000.00 25,985,000.00 0.00
597706AE0 1000.000000000 1000.000000000 0.000000000
D 14,848,000.00 14,848,000.00 0.00
597706AF7 1000.000000000 1000.000000000 0.000000000
E 5,568,000.00 5,568,000.00 0.00
597706AG5 1000.000000000 1000.000000000 0.000000000
F 7,424,000.00 7,424,000.00 0.00
597706AH3 1000.000000000 1000.000000000 0.000000000
G 18,561,000.00 18,561,000.00 0.00
597706AK6 1000.000000000 1000.000000000 0.000000000
H 5,568,000.00 5,568,000.00 0.00
597706AL4 1000.000000000 1000.000000000 0.000000000
J 11,136,000.00 11,136,000.00 0.00
597706AM2 1000.000000000 1000.000000000 0.000000000
K-1 11,139,879.82 11,139,879.82 0.00
597706AN0 1000.000000000 1000.000000000 0.000000000
K-2 11,139,879.82 11,139,879.82 0.00
597706AP5 1000.000000000 1000.000000000 0.000000000
R-III 0.00 0.00 0.00
597706AS9 1000.000000000 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
371,143,879.82 370,743,511.65 376,167.79
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
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 89,164,464.04
597706AA8 0.000000000 0.000000000 991.366162707
A-2 0.00 0.00 68,712,000.00
597706AB6 0.000000000 0.000000000 1000.000000000
A-3 0.00 0.00 91,844,000.00
597706AC4 0.000000000 0.000000000 1000.000000000
A-EC 0.00 0.00 316,538,464.04
597706AJ9 0.000000000 0.000000000 997.552791516
B 0.00 0.00 20,417,000.00
597706AD2 0.000000000 0.000000000 1000.000000000
C 0.00 0.00 25,985,000.00
597706AE0 0.000000000 0.000000000 1000.000000000
D 0.00 0.00 14,848,000.00
597706AF7 0.000000000 0.000000000 1000.000000000
E 0.00 0.00 5,568,000.00
597706AG5 0.000000000 0.000000000 1000.000000000
F 0.00 0.00 7,424,000.00
597706AH3 0.000000000 0.000000000 1000.000000000
G 0.00 0.00 18,561,000.00
597706AK6 0.000000000 0.000000000 1000.000000000
H 0.00 0.00 5,568,000.00
597706AL4 0.000000000 0.000000000 1000.000000000
J 0.00 0.00 11,136,000.00
597706AM2 0.000000000 0.000000000 1000.000000000
K-1 0.00 0.00 11,139,879.82
597706AN0 0.000000000 0.000000000 1000.000000000
K-2 0.00 0.00 11,139,879.82
597706AP5 0.000000000 0.000000000 1000.000000000
R-III 0.00 0.00 0.00
597706AS9 0.000000000 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
0.00 0.00 370,367,343.86
================ ================ ================
Total P&I Payment 3,130,353.15
============
<TABLE>
<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-1 545,824.77 0.00 7.31500000%
597706AA8 6.068698035 0.000000000 Fixed
A-2 428,018.50 0.00 7.47500000%
597706AB6 6.229166667 0.000000000 Fixed
A-3 584,357.45 0.00 7.63500000%
597706AC4 6.362500000 0.000000000 Fixed
A-EC 356,974.44 0.00 1.35168683%
597706AJ9 1.124984448 0.000000000 1.22251095%
B 132,090.83 0.00 7.76357922%
597706AD2 6.469649312 0.000000000 7.75849629%
C 169,521.36 0.00 7.82857922%
597706AE0 6.523816048 0.000000000 7.82349629%
D 99,402.15 0.00 8.03357922%
597706AF7 6.694649111 0.000000000 8.02849629%
E 38,111.01 0.00 8.21357922%
597706AG5 6.844649784 0.000000000 8.20849629%
F 55,151.53 0.00 8.91457922%
597706AH3 7.428816002 0.000000000 8.90949629%
G 137,886.25 0.00 8.91457922%
597706AK6 7.428815797 0.000000000 8.90949629%
H 41,363.65 0.00 8.91457922%
597706AL4 7.428816451 0.000000000 8.90949629%
J 82,727.30 0.00 8.91457922%
597706AM2 7.428816451 0.000000000 8.90949629%
K-1 0.00 0.00 None
597706AN0 0.000000000 0.000000000
K-2 82,756.12 0.00 8.91457922%
597706AP5 7.428816229 0.000000000 8.90949629%
R-III 0.00 0.00
597706AS9 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
2,754,185.36 0.00
================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 4
<PAGE>
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
<TABLE>
REMIC II
<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-L-1 89,941,000.00 89,540,631.83 376,167.79
None 1000.000000000 995.548546603 4.182383896
A-L-2 68,712,000.00 68,712,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
A-L-3 91,844,000.00 91,844,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
B-L 10,417,000.00 20,417,000.00 0.00
None 1000.000000000 1959.969280983 0.000000000
C-L 25,985,000.00 25,985,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
D-L 14,848,000.00 14,848,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
E-L 5,568,000.00 5,568,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
F-L 7,424,000.00 7,424,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
G-L 18,561,000.00 18,561,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
H-L 5,568,000.00 5,568,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
J-L 11,136,000.00 11,136,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
K-L 11,139,879.82 11,139,879.82 0.00
None 1000.000000000 1000.000000000 0.000000000
R-II 0.00 0.00 0.00
597706AR1 1000.000000000 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
371,143,879.82 370,743,511.65 376,167.79
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 5
<PAGE>
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-L-1 0.00 0.00 89,164,464.04
None 0.000000000 0.000000000 991.366162707
A-L-2 0.00 0.00 68,712,000.00
None 0.000000000 0.000000000 1000.000000000
A-L-3 0.00 0.00 91,844,000.00
None 0.000000000 0.000000000 1000.000000000
B-L 0.00 0.00 20,417,000.00
None 0.000000000 0.000000000 1959.969280983
C-L 0.00 0.00 25,985,000.00
None 0.000000000 0.000000000 1000.000000000
D-L 0.00 0.00 14,848,000.00
None 0.000000000 0.000000000 1000.000000000
E-L 0.00 0.00 5,568,000.00
None 0.000000000 0.000000000 1000.000000000
F-L 0.00 0.00 7,424,000.00
None 0.000000000 0.000000000 1000.000000000
G-L 0.00 0.00 18,561,000.00
None 0.000000000 0.000000000 1000.000000000
H-L 0.00 0.00 5,568,000.00
None 0.000000000 0.000000000 1000.000000000
J-L 0.00 0.00 11,136,000.00
None 0.000000000 0.000000000 1000.000000000
K-L 0.00 0.00 11,139,879.82
None 0.000000000 0.000000000 1000.000000000
R-II 0.00 0.00 0.00
597706AR1 0.000000000 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
0.00 0.00 370,367,343.86
================ ================ ================
Total P&I Payment 3,130,353.15
============
<TABLE>
<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-L-1 665,180.88 0.00 8.91457922%
None 7.395746990 0.000000000 8.90949629%
A-L-2 510,448.81 0.00 8.91457922%
None 7.428816073 0.000000000 8.90949629%
A-L-3 682,292.18 0.00 8.91457922%
None 7.428816036 0.000000000 8.90949629%
B-L 151,674.14 0.00 7.76357922%
None 14.560251512 0.000000000 7.75849629%
C-L 193,037.79 0.00 7.82857922%
None 7.428816240 0.000000000 7.82349629%
D-L 110,303.06 0.00 8.03357922%
None 7.428816002 0.000000000 8.02849629%
E-L 41,363.65 0.00 8.21357922%
None 7.428816451 0.000000000 8.20849629%
F-L 55,151.53 0.00 8.91457922%
None 7.428816002 0.000000000 8.90949629%
G-L 137,886.25 0.00 8.91457922%
None 7.428815797 0.000000000 8.90949629%
H-L 41,363.65 0.00 8.91457922%
None 7.428816451 0.000000000 8.90949629%
J-L 82,727.30 0.00 8.91457922%
None 7.428816451 0.000000000 8.90949629%
K-L 82,756.12 0.00 8.91457922%
None 7.428816229 0.000000000 8.90949629%
R-II 0.00 0.00 None
597706AR1 0.000000000 0.000000000
---------------- ---------------- ----------------
2,754,185.36 0.00
================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 6
<PAGE>
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
<TABLE>
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
REMIC I Reg Inte 371,143,880.00 370,743,511.83 376,167.79
None 1000.000000000 998.921258866 1.013536287
R-I 0.00 0.00 0.00
597706AQ3 1000.000000000 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
371,143,880.00 370,743,511.83 376,167.79
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
REMIC I Reg Inte 0.00 0.00 370,367,344.04
None 0.000000000 0.000000000 997.907722579
R-I 0.00 0.00 0.00
597706AQ3 0.000000000 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
0.00 0.00 0.00
================ ================ ================
Total P&I Payment 3,130,353.12
============
<TABLE>
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
REMIC I Reg Inte 2,754,185.33 0.00 8.91457922%
None 7.420802224 0.000000000 8.90949629%
R-I 0.00 0.00 None
597706AQ3 0.000000000 0.000000000
- ------------- ---------------- ---------------- ----------------
370,367,344.04 2,754,185.33
================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest
equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 7
<PAGE>
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
OTHER RELATED INFORMATION
Pooled Principal Distribution Amount 376,167.79
Pooled Available Funds 3,176,935.03
Amount Allocated to Principal 2,754,185.36
Amount Allocated to Interest 376,167.79
P&I Advances included in Current Amount Distriubted: 35,375.14
Servicer 35,375.14
Trustee 0.00
Fiscal Agent 0.00
Current Realized Losses 0.00
Cummulative Realized Losses 0.00
SUMMARY OF REO PROPERTIES:
Principal
Property Name Date of REO Balance Book Value
Aggregate Other
Date of Final Amount Revenues
Property Name Recovery of Proceeds Collected
AMOUNTS PAID TO SERVICER IN CURRENT COLLECTION PERIOD
Servicing Compensation 45,979.54
Additional Servicing Compensation per Section 3.12(a) 0.00
AMOUNT PAID TO SPECIAL SERVICER IN CURRENT COLLECTION PERIOD
Special Servicing Fee 0.00
Disposition Fee 0.00
Workout Fee 0.00
Amount of Prepayment Premium 0.00
Amount of Default Interest 0.00
Page - 8
<PAGE>
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
<TABLE>
<CAPTION>
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
<S> <C> <C> <C> <C> <C> <C>
11/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
10/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
</TABLE>
<TABLE>
<CAPTION>
Foreclosure/
Distribution Bankruptcy (1) REO (1) Modifications
Date # Balance # Balance # Balance
<S> <C> <C> <C> <C> <C> <C>
11/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
10/25/96 .. 0 0 0 0 0 0
/ ......... 0.00% 0.000% 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 Prepayments Curr Weighted Avg.
Date # Balance Coupon Remit
11/25/96 .... 0 0 9.0654% 8.9146%
/ ........... 0.00% 0.000%
10/25/96 .... 0 0 9.0604% 8.9096%
/ ........... 0.00% 0.000%
<TABLE>
DELINQUENT LOAN DETAIL
<CAPTION>
Disclosure Paid Outstanding Property
Doc Thru Current P&I P&I Protection
Control # Date Advance Advances (1) Advances
<S> <C> <C> <C> <C>
72 10/01/96 14,593.18 14,593.18 0.00
84 10/01/96 13,048.33 13,048.33 0.00
122 10/01/96 7,733.62 7,733.62 0.00
- --- -------- --------- --------- ---------
Total -- 35,375.13 35,375.13 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 Transfer Foreclosure Bankruptcy REO
Control # Description (1) Date Date Date Date
<S> <C> <C> <C> <C> <C>
72 B
84 B
122 B
Total
<FN>
(1) Legend:
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 or More
4. Matured Balloon/Assumed Scheduled Payment
</FN>
</TABLE>
DISTRIBUTION OF PRINCIPAL BALANCES
Current
Scheduled Number Scheduled Based on
Balances of Loans Balance Balance
$0 to $249,999 ............. 0 0 0.00%
$250,000 to $499,999 ....... 0 0 0.00%
$500,000 to $999,999 ....... 30 24,768,478 6.69%
$1,000,000 to $1,249,999 ... 15 17,035,381 4.60%
$1,250,000 to $1,499,999 ... 20 27,887,752 7.53%
$1,500,000 to $1,999,999 ... 14 24,042,294 6.49%
$2,000,000 to $2,499,999 ... 14 31,443,823 8.49%
$2,500,000 to $2,999,999 ... 8 21,366,696 5.77%
$3,000,000 to $3,499,999 ... 10 33,156,909 8.95%
$3,500,000 to $3,999,999 ... 8 30,038,573 8.11%
$4,000,000 to $4,499,999 ... 4 17,064,967 4.61%
$4,500,000 to $4,999,999 ... 2 9,828,316 2.65%
$5,000,000 to $5,499,999 ... 6 31,868,176 8.60%
$5,500,000 to $5,999,999 ... 1 5,733,815 1.55%
$6,500,000 to $6,999,999 ... 4 27,405,991 7.40%
$7,000,000 to $7,499,999 ... 2 14,512,466 3.92%
$8,000,000 to $8,499,999 ... 2 16,706,318 4.51%
$9,000,000 to $9,499,999 ... 1 9,375,770 2.53%
$10,000,000 to $10,499,999 . 1 10,382,755 2.80%
$17,500,000 & Above ........ 1 17,748,864 4.79%
- ---------------------------- --- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
Average Scheduled Balance is 2,589,981
Maximum Scheduled Balance is 17,748,864
Minimum Scheduled Balance is 522,081
DISTRIBUTION OF PROPERTY TYPES
Property Number Scheduled Based on
Types of Loans Balance Balance
MF- Housing ................ 64 156,704,563 42.31%
Retail-Anchored ............ 12 47,250,747 12.76%
Office ..................... 13 40,422,123 10.91%
Retail-Single Te ........... 17 28,531,150 7.70%
Retail Facility ............ 11 20,185,859 5.45%
Mobile Home Park ........... 5 17,649,330 4.77%
Hospitality ................ 4 17,082,320 4.61%
Congregate Care ............ 5 15,137,922 4.09%
Industrial ................. 6 12,363,811 3.34%
Office\MF\Retail ........... 2 7,518,635 2.03%
Nursing Home ............... 1 3,964,011 1.07%
Other ...................... 3 3,556,875 0.96%
--- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
Page - 10
<PAGE>
DISTRIBUTION OF MORTGAGE INTEREST RATES
Current Mortgage Number Scheduled Based on
Interest Rate of Loans Balance Balance
7.500% or less ............. 0 0 0.00%
7.500% to 7.625% ........... 0 0 0.00%
7.625% to 7.750% ........... 1 6,771,428 1.83%
7.750% to 7.875% ........... 0 0 0.00%
7.875% to 8.000% ........... 1 1,143,630 0.31%
8.000% to 8.125% ........... 5 11,874,007 3.21%
8.125% to 8.250% ........... 6 23,108,045 6.24%
8.250% to 8.375% ........... 0 0 0.00%
8.375% to 8.500% ........... 5 15,541,317 4.20%
8.500% to 8.625% ........... 8 22,313,094 6.02%
8.625% to 8.750% ........... 19 37,012,916 9.99%
8.750% to 9.000% ........... 19 66,103,882 17.85%
9.000% to 9.125% ........... 7 14,129,290 3.81%
9.125% to 9.500% ........... 44 111,624,308 30.14%
9.500% & Above ............. 28 60,745,426 16.40%
- ---------------------------- --- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
W/Avg Mortgage Interest Rate is 9.0609%
Minimum Mortgage Interest Rate is 7.6400%
Maximum Mortgage Interest Rate is
GEOGRAPHIC DISTRIBUTION
Geographic Number Scheduled Based on
Location of Loans Balance Balance
Texas ...................... 23 42,773,306 11.55%
California ................. 12 42,488,959 11.47%
Illinois ................... 9 29,749,867 8.03%
New York ................... 9 26,689,171 7.21%
Ohio ....................... 9 26,622,269 7.19%
Nevada ..................... 3 24,674,321 6.66%
Oklahoma ................... 8 16,078,469 4.34%
Puerto Rico ................ 2 15,584,856 4.21%
Florida .................... 7 13,585,341 3.67%
Arizona .................... 6 13,525,981 3.65%
Massachusetts .............. 2 11,429,417 3.09%
Indiana .................... 3 11,185,961 3.02%
Missouri ................... 6 11,179,836 3.02%
Pennsylvania ............... 6 10,957,539 2.96%
Virginia ................... 4 8,557,703 2.31%
Michigan ................... 5 8,246,260 2.23%
Georgia .................... 5 7,760,497 2.10%
New Jersey ................. 4 7,021,182 1.90%
Colorado ................... 4 7,010,798 1.89%
New Mexico ................. 3 5,800,086 1.57%
District of Colu ........... 1 5,247,533 1.42%
Delaware ................... 1 4,949,111 1.34%
Kansas ..................... 1 4,308,781 1.16%
Louisiana .................. 1 3,168,373 0.86%
Wyoming .................... 1 2,287,354 0.62%
Idaho ...................... 1 2,030,173 0.55%
Tennessee .................. 2 1,839,828 0.50%
Montana .................... 1 1,796,232 0.48%
Maryland ................... 2 1,691,348 0.46%
Arkansas ................... 1 1,267,806 0.34%
Other ...................... 1 858,983 0.23%
--- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
Page - 11
<PAGE>
LOAN SEASONING
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less ............. 124 339,310,012 91.61%
1+ to 2 years .............. 6 11,388,928 3.08%
2+ to 3 years .............. 10 15,999,841 4.32%
3+ to 4 years .............. 2 1,392,216 0.38%
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 .............. 1 2,276,346 0.61%
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 ...................... 143 370,367,343 100.00%
=== =========== ======
Weighted Average Seasoning is 0.6
DISTRIBUTION OF REMAINING TERM
FULLY AMORTIZING
Fully Amortizing Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
60 months or less .......... 0 0 0.00%
61 to 120 months ........... 0 0 0.00%
121 to 180 month ........... 0 0 0.00%
181 to 240 month ........... 0 0 0.00%
241 to 360 month ........... 0 0 0.00%
- ---------------------------- --- ----------- ------
Total ...................... 0 0 0.00%
=== =========== ======
Weighted Average Months to Maturity is NA
<TABLE>
DISTRIBUTION OF DSCR
<CAPTION>
Debt Service Number Scheduled Based on
Coverage Ratio (1) of Loans Balance Balance
<S> <C> <C> <C>
1 or less .................. 6 18,460,847 4.98%
1.001 to 1.125 ............. 5 13,069,438 3.53%
1.126 to 1.25 .............. 5 19,801,993 5.35%
1.251 to 1.375 ............. 19 73,630,690 19.88%
1.376 to 1.5 ............... 31 84,101,691 22.71%
1.501 to 1.625 ............. 28 53,965,958 14.57%
1.626 to 1.75 .............. 17 38,430,904 10.38%
1.751 to 1.875 ............. 10 15,089,339 4.07%
1.876 to 2 ................. 9 21,612,974 5.84%
2.001 to 2.125 ............. 2 8,006,254 2.16%
2.126 to 2.25 .............. 3 3,390,785 0.92%
2.251 to 2.375 ............. 3 6,195,746 1.67%
2.376 to 2.5 ............... 1 2,488,306 0.67%
2.501 to 2.625 ............. 2 4,290,149 1.16%
2.626 & above .............. 2 7,832,268 2.11%
Unknown .................... 0 0 0.00%
--- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
<FN>
(1) Debt Service Coverage Ratios are calculated as described in the prospectus,
values are updated periodically as new NOI figures became available from
borrowers on an asset level. Neither the Trustee, Servicer, Special Servicer
or Underwriter makes any representation as to the accuracy of the data
provided by the borrower for this calculation.
</FN>
</TABLE>
Weighted Average Debt Service Coverage Ratio is 1.543
Page - 12
<PAGE>
DISTRIBUTION OF AMORTIZATION TYPE
Number Scheduled Based on
Amortization Type of of Loans Balance Balance
Amortizing Balloon ......... 143 370,367,343 100.00%
--- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Balloon Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
12 months or less .......... 0 0 0.00%
13 to 24 months ............ 0 0 0.00%
25 to 36 months ............ 1 2,276,346 0.61%
37 to 48 months ............ 0 0 0.00%
49 to 60 months ............ 9 25,848,992 6.98%
61 to 120 months ........... 76 220,324,950 59.49%
121 to 180 month ........... 54 118,356,455 31.96%
181 to 240 month ........... 3 3,560,601 0.96%
- ---------------------------- --- ----------- ------
143 370,367,343 100.00%
=== =========== ======
Weighted Average Months to Maturity is 117
NOI AGING
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less ............. 136 360,895,870 97.44%
1 to 2 years ............... 6 8,913,433 2.41%
2 Years or More ............ 1 558,041 0.15%
Unknown .................... 0 0 0.00%
--- ----------- ------
Total ...................... 143 370,367,343 100.00%
=== =========== ======
Page - 13
<PAGE>
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
LOAN LEVEL DETAIL
Beginning
Disclosure Principal Property Type Maturity
Control # Balance Code Date
143 524,125 MF- Housing 04/15/08
142 559,746 MF- Housing 09/01/09
141 562,831 Warehouse 06/01/06
140 607,699 MF- Housing 05/01/01
139 656,315 MF- Housing 05/01/01
138 663,953 MF- Housing 05/01/01
137 712,500 Industrial 04/01/08
136 720,709 Retail-Single Tena 02/01/06
135 724,947 Retail-Single Tena 02/01/06
134 743,817 Retail-Single Tena 02/01/06
133 843,002 Retail-Single Tena 04/01/11
132 846,377 Retail-Single Tena 02/01/06
131 851,881 Retail-Single Tena 02/01/06
130 856,476 Retail-Single Tena 02/01/06
129 859,698 Retail Facility 06/01/06
128 872,523 Retail-Single Tena 02/01/06
127 873,542 MF- Housing 04/15/08
126 881,435 Retail-Single Tena 02/01/06
125 915,801 MF- Housing 05/01/11
124 919,012 MF- Housing 01/01/01
123 925,755 MF- Housing 05/01/11
122 928,527 MF- Housing 07/01/06
121 932,065 Industrial 07/01/08
120 943,843 Retail Facility 03/01/08
119 963,341 MF- Housing 07/01/12
118 966,365 Retail Facility 01/01/08
117 972,852 MF- Housing 05/01/01
116 987,581 Retail-Anchored 07/01/06
115 990,131 MF- Housing 02/01/01
114 997,654 Office 07/01/08
113 1,042,981 Retail Facility 03/01/08
112 1,046,514 Office 06/01/08
111 1,047,507 Office 07/01/08
109 1,098,445 Mobile Home Park 09/01/11
110 1,098,895 MF- Housing 08/01/06
108 1,102,390 Office 07/01/08
107 1,130,255 Office 07/01/06
106 1,131,419 MF- Housing 03/01/06
105 1,135,981 MF- Housing 05/01/12
104 1,144,445 MF- Housing 03/01/03
103 1,185,678 MF- Housing 06/01/10
102 1,189,164 Retail Facility 01/01/06
101 1,220,483 Retail-Single Tena 04/01/11
100 1,238,288 MF- Housing 01/01/11
99 1,244,140 Retail Facility 06/01/11
Page - 14
<PAGE>
LOAN LEVEL DETAIL, Continued
Beginning
Disclosure Principal Property Type Maturity
Control # Balance Code Date
98 1,264,642 Retail-Single Tena 02/01/06
97 1,269,320 MF- Housing 04/01/01
96 1,288,205 MF- Housing 12/31/05
95 1,308,298 MF- Housing 09/01/02
94 1,330,559 Retail-Single Tena 04/01/11
93 1,355,904 Retail-Single Tena 02/01/06
92 1,361,869 Retail-Single Tena 02/01/06
91 1,374,477 MF- Housing 07/01/08
90 1,390,628 Office 07/01/06
89 1,407,005 MF- Housing 06/01/08
88 1,417,087 Retail-Anchored 03/31/06
87 1,422,460 Indust./Whs/Office 04/01/06
86 1,427,136 MF- Housing 04/01/08
85 1,446,487 Retail Facility 07/01/08
84 1,451,538 MF- Housing 05/01/06
82 1,469,839 MF- Housing 07/01/12
83 1,472,154 MF- Housing 01/01/03
81 1,476,191 MF- Housing 01/01/02
80 1,488,954 Mobile Home Park 05/01/08
79 1,497,651 Retail Facility 08/01/06
78 1,544,732 Industrial 06/01/03
77 1,565,993 MF- Housing 09/01/02
76 1,577,170 Warehouse 01/01/11
75 1,591,041 MF- Housing 06/01/11
74 1,656,113 Office 04/01/08
73 1,678,849 Retail-Anchored 05/31/06
72 1,709,369 Industrial 04/01/08
71 1,788,017 MF- Housing 12/01/05
70 1,793,654 MF- Housing 06/01/11
69 1,795,290 MF- Housing 07/01/06
68 1,797,185 MF- Housing 07/01/11
67 1,810,187 MF- Housing 07/01/08
66 1,861,269 MF- Housing 06/01/03
65 1,895,119 MF- Housing 07/01/11
64 2,029,179 MF- Housing 05/01/01
63 2,031,882 Retail-Anchored 06/01/06
62 2,040,916 Retail-Anchored 05/01/03
61 2,084,306 MF- Housing 03/01/06
60 2,176,003 MF- Housing 12/01/01
59 2,192,295 MF- Housing 06/01/11
58 2,282,036 Office 04/14/99
57 2,289,288 Mobile Home Park 07/01/08
56 2,294,061 MF- Housing 07/01/06
55 2,323,129 Retail-Single Tena 04/01/08
54 2,383,294 MF- Housing 10/31/05
53 2,396,765 Hospitality 09/01/06
52 2,462,409 MF- Housing 05/01/04
51 2,490,010 Congregate Care 04/01/06
50 2,530,065 MF- Housing 07/01/11
48 2,548,531 MF- Housing 07/01/08
49 2,549,770 Congregate Care 04/01/06
47 2,588,957 Hospitality 07/01/11
46 2,593,071 Industrial 07/01/08
45 2,783,618 Congregate Care 04/01/06
44 2,827,777 MF- Housing 07/01/06
43 2,976,547 MF- Housing 07/01/11
42 3,082,642 MF- Housing 06/01/11
41 3,171,312 MF- Housing 07/01/06
40 3,270,283 MF- Housing 04/01/06
39 3,286,814 Congregate Care 04/01/06
38 3,303,620 Office 06/01/11
37 3,331,090 Retail Facility 03/01/11
36 3,372,631 Retail Facility 02/01/06
35 3,404,497 Mobile Home Park 07/01/03
34 3,479,590 MF- Housing 04/01/06
Page - 15
<PAGE>
LOAN LEVEL DETAIL, Continued
Beginning
Disclosure Principal Property Type Maturity
Control # Balance Code Date
33 3,490,993 MF- Housing 07/01/11
32 3,537,042 Retail-Anchored 05/31/06
31 3,611,812 MF- Housing 06/01/06
30 3,615,211 MF- Housing 07/01/06
29 3,641,392 Office\MF\Retail 07/01/06
28 3,877,331 Office 04/01/08
27 3,883,531 Office\MF\Retail 05/01/06
26 3,931,822 MF- Housing 07/01/06
25 3,966,429 Nursing Home 10/01/05
24 4,040,244 Congregate Care 05/01/06
23 4,311,667 MF- Housing 08/01/05
22 4,317,840 Retail Facility 08/01/08
21 4,409,363 Retail-Anchored 07/01/06
20 4,883,429 Industrial 06/01/06
19 4,953,132 Retail-Anchored 07/01/06
18 5,046,600 Retail-Single Tena 10/01/10
17 5,234,581 MF- Housing 05/01/03
16 5,252,200 Office 05/01/06
15 5,430,067 Hospitality 02/01/11
14 5,438,765 Retail-Anchored 04/01/08
13 5,490,652 MF- Housing 07/01/03
12 5,738,919 Retail-Anchored 07/01/08
11 6,693,638 Hospitality 12/01/10
10 6,779,512 Retail-Anchored 12/31/02
9 6,981,128 MF- Housing 07/01/06
8 6,983,012 Office 07/01/11
7 7,201,735 MF- Housing 12/01/05
6 7,324,437 Retail-Single Tena 01/01/06
5 8,277,469 Retail-Anchored 01/01/06
4 8,443,107 MF- Housing 11/30/02
3 9,383,909 Mobile Home Park 08/01/03
2 10,391,411 Office 09/01/03
1 17,759,261 MF- Housing 07/01/01
- --- ------------ ------------------ --------
370,743,511
============
Page - 16
<PAGE>
<TABLE>
LOAN LEVEL DETAIL, Continued
<CAPTION>
Operating
Disclosure Statement
Control # DSCR (1) NOI (1) Date
<S> <C> <C> <C>
143 1.049 79,540 12/31/94
142 2.217 170,587 12/31/93
141 1.489 95,038 12/31/95
140 1.637 105,142 12/31/95
139 1.515 105,086 12/31/95
138 1.497 100,835 12/31/95
137 1.365 100,815 09/01/96
136 1.589 122,540 09/01/96
135 1.589 123,261 09/01/96
134 1.589 126,469 09/01/96
133 2.313 202,219 09/01/96
132 1.589 143,907 09/01/96
131 1.589 144,842 09/01/96
130 1.589 145,625 09/01/96
129 1.696 154,921 12/31/95
128 1.627 151,900 09/01/96
127 0.800 101,067 12/31/94
126 1.589 149,867 09/01/96
125 1.425 131,522 12/31/95
124 1.828 189,016 12/31/95
123 1.387 129,334 12/31/95
122 1.955 184,620 12/31/95
121 1.534 161,500 12/31/95
120 1.731 164,429 12/31/95
119 1.648 192,717 12/31/95
118 1.451 137,625 12/31/95
117 1.673 173,686 12/31/95
116 1.465 153,194 12/31/95
115 2.563 249,940 12/31/95
114 1.950 209,814 09/01/96
113 1.479 152,812 09/01/96
112 1.996 219,751 12/31/95
111 1.817 204,225 12/31/95
109 1.280 156,933 12/31/95
110 1.429 157,536 12/31/95
108 1.724 204,354 12/31/95
107 1.700 204,169 12/31/95
106 1.291 150,418 12/31/95
105 1.256 167,986 12/31/95
104 1.866 188,265 12/31/95
103 0.723 110,133 12/31/95
102 1.751 202,396 12/31/95
101 1.890 239,295 09/01/96
100 1.792 211,535 12/31/95
99 1.003 129,704 12/31/94
98 1.589 215,023 09/01/96
97 2.241 289,642 12/31/95
96 1.529 190,889 12/31/95
95 1.392 169,679 12/31/94
94 1.499 206,802 09/01/96
93 1.589 230,540 09/01/96
92 1.589 231,555 09/01/96
91 1.630 232,089 12/31/95
90 2.297 339,692 12/31/95
89 1.529 219,599 12/31/95
88 1.430 203,321 12/31/95
87 1.894 301,274 12/31/95
86 1.813 261,285 12/31/95
85 1.616 248,441 12/31/95
84 1.524 242,468 12/31/95
82 1.605 286,391 12/31/95
83 1.843 241,556 12/31/95
81 1.642 279,091 12/31/95
80 1.485 244,812 12/31/95
79 1.308 210,633 12/31/95
78 1.537 246,968 12/31/95
77 2.128 310,549 12/31/95
76 1.549 263,406 12/31/95
75 1.598 288,468 12/31/95
74 1.841 311,999 12/31/95
73 1.408 237,613 12/31/95
<FN>
(1) NOI and DSCR, if available and reportable under the terms of the
trust agreement, are based on information obtained from the related
borrower, and no other party to the agreement shall be held liable
for the accuracy or methodology used to determine such figures.
</FN>
</TABLE>
Page - 17
<PAGE>
<TABLE>
LOAN LEVEL DETAIL, Continued
<CAPTION>
Operating
Disclosure Statement
Control # DSCR (1) NOI (1) Date
<S> <C> <C> <C>
72 1.408 250,770 09/01/96
71 1.547 249,645 12/31/95
70 1.715 314,440 12/31/95
69 1.303 239,609 12/31/95
68 0.951 169,129 12/31/95
67 1.484 273,506 12/31/95
66 1.488 263,249 12/31/95
65 1.617 316,776 02/29/96
64 1.662 338,666 12/31/95
63 1.311 281,490 12/31/95
62 1.739 362,819 12/31/95
61 1.406 274,183 12/31/95
60 1.560 357,627 12/31/95
59 1.420 319,224 12/31/94
58 1.368 450,404 12/31/95
57 1.358 326,300 12/31/95
56 1.447 342,290 12/31/95
55 1.119 280,211 12/31/95
54 1.370 302,318 12/31/95
53 2.744 753,275 12/31/95
52 1.819 470,876 12/31/95
51 2.419 538,497 12/31/95
50 1.464 460,710 12/31/95
48 1.826 507,651 12/31/95
49 1.994 454,610 12/31/95
47 2.019 587,289 12/31/95
46 1.394 367,140 12/31/95
45 1.229 334,449 10/31/95
44 1.565 459,157 12/31/95
43 1.354 501,465 12/31/95
42 1.542 539,086 12/31/95
41 1.420 451,656 12/31/95
40 1.313 404,060 12/31/95
39 1.942 570,607 12/31/95
38 2.526 864,097 12/31/95
37 0.371 146,547 12/31/95
36 1.425 464,964 12/31/95
35 1.253 416,481 12/31/95
34 1.731 589,837 12/31/95
33 1.982 714,772 12/31/95
32 1.203 427,764 12/31/95
31 1.428 519,264 12/31/95
30 1.354 493,878 12/31/95
29 1.609 630,549 12/31/95
28 1.246 473,834 12/31/95
27 1.196 486,085 12/31/95
26 1.392 564,447 02/29/96
25 2.303 975,953 12/31/95
24 1.043 411,237 12/31/95
23 1.404 565,464 12/31/95
22 0.920 415,979 12/31/95
21 1.466 688,928 12/31/95
20 1.740 886,178 12/31/95
19 1.038 549,623 12/31/95
18 1.384 733,489 09/01/96
17 1.335 659,803 12/31/95
16 1.507 819,088 12/31/95
15 2.020 1,176,471 12/31/95
14 3.458 774,124 09/01/96
13 1.722 903,048 12/31/95
12 1.238 727,590 12/31/95
11 1.927 1,406,936 12/31/95
10 1.292 794,247 12/31/95
9 1.372 966,841 12/31/95
8 1.000 741,510 09/01/96
7 1.400 910,155 12/31/95
6 1.328 965,274 09/01/96
5 1.474 1,209,636 09/01/96
4 1.704 1,295,267 12/31/95
3 1.454 1,407,000 12/31/95
2 1.556 1,691,446 06/30/96
1 1.342 2,260,558 12/31/95
- ----- ---------- --------
57,445,903
==========
<FN>
(1) NOI and DSCR, if available and reportable under the terms of the
trust agreement, are based on information obtained from the related
borrower, and no other party to the agreement shall be held liable
for the accuracy or methodology used to determine such figures.
</FN>
</TABLE>
Page - 18
<PAGE>
LOAN LEVEL DETAIL, Continued
Ending
Disclosure Principal Note Scheduled
Control # Balance Rate P&I
143 522,081 9.600% 6,317
142 558,041 9.900% 6,412
141 562,022 9.620% 5,320
140 607,031 9.250% 5,352
139 655,593 9.250% 5,781
138 663,526 9.375% 5,614
137 711,902 9.360% 6,156
136 719,506 8.700% 6,428
135 723,737 8.700% 6,466
134 742,575 8.700% 6,634
133 842,249 9.300% 7,286
132 844,964 8.700% 7,549
131 850,459 8.700% 7,598
130 855,047 8.700% 7,639
129 858,983 9.630% 7,614
128 871,066 8.700% 7,782
127 870,135 9.600% 10,529
126 879,963 8.700% 7,862
125 914,942 8.950% 7,689
124 917,097 8.750% 8,616
123 924,887 8.950% 7,773
122 927,690 9.090% 7,870
121 930,732 9.580% 8,774
120 942,937 8.910% 7,914
119 961,086 9.330% 9,744
118 965,371 8.580% 7,904
117 971,802 9.375% 8,650
116 986,762 9.590% 8,712
115 989,430 9.000% 8,127
114 996,859 9.830% 8,967
113 1,041,948 8.720% 8,611
112 1,045,625 9.500% 9,174
111 1,046,662 9.760% 9,364
109 1,096,878 9.450% 10,218
110 1,098,336 9.420% 9,185
108 1,101,505 9.790% 9,878
107 1,129,325 9.640% 10,009
106 1,129,426 8.180% 9,706
105 1,133,115 8.750% 11,149
104 1,143,630 7.960% 8,406
103 1,182,029 9.160% 12,700
102 1,187,918 8.460% 9,630
101 1,219,393 9.300% 10,549
100 1,236,942 8.230% 9,839
99 1,242,648 8.950% 10,772
98 1,262,531 8.700% 11,279
97 1,267,806 8.750% 10,770
96 1,286,848 8.430% 10,407
95 1,307,417 8.510% 10,159
94 1,329,370 9.300% 11,500
93 1,353,641 8.700% 12,093
92 1,359,596 8.700% 12,147
91 1,373,285 9.320% 11,868
90 1,389,486 9.650% 12,325
89 1,405,733 9.120% 11,966
88 1,415,734 8.890% 11,851
87 1,420,313 9.370% 13,255
86 1,425,791 8.970% 12,013
85 1,445,297 9.640% 12,810
84 1,449,296 9.110% 13,262
82 1,466,399 9.330% 14,868
83 1,471,109 8.050% 10,921
81 1,474,945 10.500% 14,163
80 1,486,693 9.250% 13,738
79 1,496,462 9.800% 13,420
78 1,543,389 9.360% 13,392
77 1,564,938 8.510% 12,160
Page - 19
<PAGE>
LOAN LEVEL DETAIL, Continued
Ending
Disclosure Principal Note Scheduled
Control # Balance Rate P&I
76 1,574,539 8.780% 14,170
75 1,588,756 9.620% 15,040
74 1,654,592 9.130% 14,121
73 1,677,283 8.930% 14,060
72 1,707,857 9.360% 14,845
71 1,786,773 8.190% 13,447
70 1,792,037 9.140% 15,278
69 1,793,696 9.180% 15,328
68 1,796,232 9.260% 14,821
67 1,808,559 9.100% 15,356
66 1,860,175 8.800% 14,743
65 1,893,466 9.290% 16,324
64 2,027,843 9.250% 16,978
63 2,030,173 9.560% 17,896
62 2,039,058 9.130% 17,386
61 2,082,004 8.030% 16,250
60 2,174,806 9.875% 19,104
59 2,190,332 9.180% 18,734
58 2,276,346 11.430% 27,427
57 2,287,354 9.480% 20,019
56 2,292,051 9.260% 19,713
55 2,319,389 8.850% 20,873
54 2,381,710 8.460% 18,386
53 2,393,503 9.820% 22,875
52 2,460,948 9.800% 21,571
51 2,488,306 8.120% 18,554
50 2,523,317 9.240% 26,229
48 2,544,650 9.080% 23,165
49 2,548,025 8.120% 18,999
47 2,585,217 9.500% 24,235
46 2,590,727 9.070% 21,944
45 2,780,819 8.570% 22,679
44 2,825,332 9.340% 24,455
43 2,968,609 9.240% 30,858
42 3,078,215 9.620% 29,139
41 3,168,373 8.920% 26,512
40 3,268,281 8.675% 25,644
39 3,284,564 8.120% 24,491
38 3,300,719 9.300% 28,504
37 3,320,975 8.210% 32,906
36 3,369,101 8.420% 27,195
35 3,402,635 9.110% 27,708
34 3,476,102 8.590% 28,396
33 3,487,944 9.280% 30,046
32 3,533,742 8.930% 29,621
31 3,608,453 8.950% 30,297
30 3,611,899 8.990% 30,396
29 3,638,476 9.800% 32,654
28 3,873,457 8.610% 31,693
27 3,880,159 9.420% 33,858
26 3,928,377 9.260% 33,786
25 3,964,011 9.630% 35,310
24 4,036,208 8.560% 32,857
23 4,308,781 8.540% 33,571
22 4,314,218 9.470% 37,697
21 4,405,760 9.680% 39,172
20 4,879,204 9.390% 42,437
19 4,949,111 9.720% 44,141
18 5,041,921 9.390% 44,169
17 5,231,429 8.720% 41,189
16 5,247,533 9.280% 45,283
15 5,421,037 8.730% 48,534
14 5,438,765 12.350% 55,974
13 5,487,490 8.860% 43,701
12 5,733,815 9.170% 48,959
11 6,682,562 8.920% 60,832
10 6,771,428 7.640% 51,246
9 6,974,743 9.000% 58,744
8 6,977,258 9.630% 61,793
7 7,196,726 8.190% 54,161
6 7,315,740 8.500% 60,578
5 8,269,115 8.700% 68,366
4 8,437,203 8.163% 63,339
3 9,375,770 9.270% 80,630
2 10,382,755 9.460% 90,575
1 17,748,864 8.780% 140,335
- --- ------------ ------ ---------
370,367,343 3,176,935
============ =========
Page - 20
<PAGE>
LOAN LEVEL DETAIL, Continued
Disclosure Prepayment
Control # Prepayment Date
143 -- --
142 -- --
141 -- --
140 -- --
139 -- --
138 -- --
137 -- --
136 -- --
135 -- --
134 -- --
133 -- --
132 -- --
131 -- --
130 -- --
129 -- --
128 -- --
127 -- --
126 -- --
125 -- --
124 -- --
123 -- --
122 -- --
121 -- --
120 -- --
119 -- --
118 -- --
117 -- --
116 -- --
115 -- --
114 -- --
113 -- --
112 -- --
111 -- --
109 -- --
110 -- --
108 -- --
107 -- --
106 -- --
105 -- --
104 -- --
103 -- --
102 -- --
101 -- --
100 -- --
99 -- --
98 -- --
97 -- --
96 -- --
95 -- --
94 -- --
93 -- --
92 -- --
91 -- --
90 -- --
89 -- --
88 -- --
87 -- --
86 -- --
85 -- --
84 -- --
82 -- --
83 -- --
81 -- --
80 -- --
79 -- --
Page - 21
<PAGE>
LOAN LEVEL DETAIL, Continued
Disclosure Prepayment
Control # Prepayment Date
78 -- --
77 -- --
76 -- --
75 -- --
74 -- --
73 -- --
72 -- --
71 -- --
70 -- --
69 -- --
68 -- --
67 -- --
66 -- --
65 -- --
64 -- --
63 -- --
62 -- --
61 -- --
60 -- --
59 -- --
58 -- --
57 -- --
56 -- --
55 -- --
54 -- --
53 -- --
52 -- --
51 -- --
50 -- --
48 -- --
49 -- --
47 -- --
46 -- --
45 -- --
44 -- --
43 -- --
42 -- --
41 -- --
40 -- --
39 -- --
38 -- --
37 -- --
36 -- --
35 -- --
34 -- --
33 -- --
32 -- --
31 -- --
30 -- --
29 -- --
28 -- --
27 -- --
26 -- --
25 -- --
24 -- --
23 -- --
22 -- --
21 -- --
20 -- --
19 -- --
18 -- --
17 -- --
16 -- --
15 -- --
14 0.00 11/8/96
13 -- --
12 -- --
11 -- --
10 -- --
9 -- --
8 -- --
7 -- --
6 -- --
5 -- --
4 -- --
3 -- --
2 -- --
1 -- --
---- -------
0
====
Page - 22
<PAGE>
Midland Realty Acceptance Corp.
Midland Loan Services, L.P. as Servicer and Special Servicer
Commercial Mortgage Pass-Through Certificates
Series 1996-C1
ABN AMRO Acct: 67-7617-409
SPECIALLY SERVICED LOAN DETAIL
Beginning
Disclosure Scheduled Interest Maturity Property
Control # Balance Rate Date Type
<TABLE>
<CAPTION>
Specially
Disclosure Serviced
Control # Status Code (1) Comments
<S> <C> <C>
<FN>
(1) Legend :
1) Request for waiver of Prepayment Penalty
2) Payment default
3) Request for Loan Modification or Workout
4) Loan with Borrower Bankruptcy
5) Loan in Process of Foreclosure
6) Loan now REO Property
7) Loans Paid Off
8) Loans Returned to Master Servicer
</FN>
</TABLE>
MODIFIED LOAN DETAIL
Disclosure Modification Modification
Control # Date Description
REALIZED LOSS DETAIL
Dist. Disclosure Appraisal Appraisal
Date Control # Date Value
Beginning Gross Proceeds
Dist. Scheduled Gross as a % of
Date Balance Proceeds Sched Principal
<TABLE>
<CAPTION>
Aggregate Net Net Proceeds
Dist. Liquidation Liquidation as a % of Realized
Date Expenses (1) Proceeds Sched. Balance Loss
<S> <C> <C> <C> <C>
<FN>
(1) Aggregate liquidation expenses also include outstanding P&I advances
and unpaid servicing fees, unpaid trustee fees, etc..
</FN>
</TABLE>
Page - 23
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: NOVEMBER, 1996
DATE PRINTED: 26-NOV-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>
000 5,438,765 0 69.7% 3.45 N/A PERFORMING PERFORM TO MATURITY
001 17,748,864 0 78.9% 1.34 N/A PERFORMING PERFORM TO MATURITY
002 10,382,755 0 65.3% 1.55 N/A PERFORMING PERFORM TO MATURITY
003 9,375,770 0 56.8% 1.45 N/A PERFORMING PERFORM TO MATURITY
004 8,437,203 0 73.4% 1.70 N/A PERFORMING PERFORM TO MATURITY
005 8,269,115 0 61.7% 1.47 N/A PERFORMING PERFORM TO MATURITY
006 7,315,740 0 70.3% 1.32 N/A PERFORMING PERFORM TO MATURITY
007 7,196,726 0 74.6% 1.40 N/A PERFORMING PERFORM TO MATURITY
008 6,977,258 0 65.2% 1.00 N/A PERFORMING PERFORM TO MATURITY
009 6,974,743 0 71.3% 1.37 N/A PERFORMING PERFORM TO MATURITY
010 6,771,428 0 73.6% 1.29 N/A PERFORMING PERFORM TO MATURITY
011 6,682,562 0 68.2% 1.92 N/A PERFORMING PERFORM TO MATURITY
012 5,733,815 0 74.5% 1.23 N/A PERFORMING PERFORM TO MATURITY
013 5,487,490 0 63.8% 1.72 N/A PERFORMING PERFORM TO MATURITY
015 5,421,037 0 60.2% 2.02 N/A PERFORMING PERFORM TO MATURITY
016 5,247,533 0 72.9% 1.50 N/A PERFORMING PERFORM TO MATURITY
017 5,231,429 0 76.9% 1.33 N/A PERFORMING PERFORM TO MATURITY
018 5,041,921 0 65.5% 1.38 N/A PERFORMING PERFORM TO MATURITY
019 4,949,111 0 73.3% 1.03 N/A PERFORMING PERFORM TO MATURITY
020 4,879,204 0 77.9% 1.74 N/A PERFORMING PERFORM TO MATURITY
021 4,405,760 0 65.8% 1.46 N/A PERFORMING PERFORM TO MATURITY
022 4,314,218 0 71.2% 0.91 N/A PERFORMING PERFORM TO MATURITY
023 4,308,781 0 70.6% 1.40 N/A PERFORMING PERFORM TO MATURITY
024 4,036,208 0 67.3% 1.04 N/A PERFORMING PERFORM TO MATURITY
025 3,964,011 0 68.3% 2.30 N/A PERFORMING PERFORM TO MATURITY
026 3,928,377 0 70.8% 1.39 N/A PERFORMING PERFORM TO MATURITY
027 3,880,159 0 69.3% 1.19 N/A PERFORMING PERFORM TO MATURITY
028 3,873,457 0 66.8% 1.24 N/A PERFORMING PERFORM TO MATURITY
029 3,638,476 0 56.0% 1.60 N/A PERFORMING PERFORM TO MATURITY
030 3,611,899 0 73.7% 1.35 N/A PERFORMING PERFORM TO MATURITY
031 3,608,453 0 70.5% 1.42 N/A PERFORMING PERFORM TO MATURITY
032 3,533,742 0 72.9% 1.20 N/A PERFORMING PERFORM TO MATURITY
033 3,487,944 0 34.4% 1.98 N/A PERFORMING PERFORM TO MATURITY
034 3,476,102 0 65.5% 1.73 N/A PERFORMING PERFORM TO MATURITY
035 3,402,635 0 72.0% 1.25 N/A PERFORMING PERFORM TO MATURITY
036 3,369,101 0 74.0% 1.42 N/A PERFORMING PERFORM TO MATURITY
037 3,320,975 0 72.2% 0.37 N/A PERFORMING PERFORM TO MATURITY
038 3,300,719 0 54.1% 2.52 N/A PERFORMING PERFORM TO MATURITY
039 3,284,564 0 60.8% 1.94 N/A PERFORMING PERFORM TO MATURITY
040 3,268,281 0 68.8% 1.31 N/A PERFORMING PERFORM TO MATURITY
041 3,168,373 0 72.8% 1.41 N/A PERFORMING PERFORM TO MATURITY
042 3,073,717 0 62.1% 1.54 N/A PERFORMING PERFORM TO MATURITY
043 2,968,609 0 63.2% 1.35 N/A PERFORMING PERFORM TO MATURITY
044 2,825,332 0 73.4% 1.56 N/A PERFORMING PERFORM TO MATURITY
045 2,780,819 0 69.5% 1.22 N/A PERFORMING PERFORM TO MATURITY
046 2,590,727 0 68.6% 1.39 N/A PERFORMING PERFORM TO MATURITY
047 2,585,217 0 61.6% 2.01 N/A PERFORMING PERFORM TO MATURITY
048 2,544,650 0 61.2% 1.82 N/A PERFORMING PERFORM TO MATURITY
049 2,548,025 0 67.1% 1.99 N/A PERFORMING PERFORM TO MATURITY
050 2,523,317 0 53.7% 1.46 N/A PERFORMING PERFORM TO MATURITY
051 2,488,306 0 42.2% 2.41 N/A PERFORMING PERFORM TO MATURITY
052 2,460,948 0 67.2% 1.81 N/A PERFORMING PERFORM TO MATURITY
053 2,393,503 0 64.7% 2.74 N/A PERFORMING PERFORM TO MATURITY
054 2,381,710 0 68.8% 1.37 N/A PERFORMING PERFORM TO MATURITY
055 2,319,389 0 69.2% 1.11 N/A PERFORMING PERFORM TO MATURITY
056 2,292,051 0 74.7% 1.44 N/A PERFORMING PERFORM TO MATURITY
057 2,287,354 0 71.5% 1.35 N/A PERFORMING PERFORM TO MATURITY
058 2,276,346 0 49.5% 1.36 N/A PERFORMING PERFORM TO MATURITY
059 2,190,332 0 70.2% 1.41 N/A PERFORMING PERFORM TO MATURITY
060 2,174,806 0 64.9% 1.56 N/A PERFORMING PERFORM TO MATURITY
061 2,082,004 0 64.1% 1.40 N/A PERFORMING PERFORM TO MATURITY
062 2,039,058 0 66.9% 1.73 N/A PERFORMING PERFORM TO MATURITY
063 2,030,173 0 63.4% 1.31 N/A PERFORMING PERFORM TO MATURITY
064 2,027,843 0 67.6% 1.66 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 24
<PAGE>
<TABLE>
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
065 1,893,466 0 70.4% 1.61 N/A PERFORMING PERFORM TO MATURITY
066 1,860,175 0 67.6% 1.48 N/A PERFORMING PERFORM TO MATURITY
067 1,808,559 0 74.7% 1.48 N/A PERFORMING PERFORM TO MATURITY
068 1,796,232 0 71.8% 0.95 N/A PERFORMING PERFORM TO MATURITY
069 1,793,696 0 67.7% 1.30 N/A PERFORMING PERFORM TO MATURITY
070 1,792,037 0 56.4% 1.71 N/A PERFORMING PERFORM TO MATURITY
071 1,786,773 0 74.4% 1.54 N/A PERFORMING PERFORM TO MATURITY
072 1,709,369 14 74.5% 1.40 N/A PERFORMING PERFORM TO MATURITY
073 1,677,283 0 72.1% 1.40 N/A PERFORMING PERFORM TO MATURITY
074 1,654,592 0 38.4% 1.84 N/A PERFORMING PERFORM TO MATURITY
075 1,586,435 0 61.6% 1.59 N/A PERFORMING PERFORM TO MATURITY
076 1,574,539 0 61.7% 1.54 N/A PERFORMING PERFORM TO MATURITY
077 1,564,938 0 74.5% 2.12 N/A PERFORMING PERFORM TO MATURITY
078 1,543,389 0 67.1% 1.53 N/A PERFORMING PERFORM TO MATURITY
079 1,496,462 0 58.2% 1.30 N/A PERFORMING PERFORM TO MATURITY
080 1,486,693 0 66.1% 1.48 N/A PERFORMING PERFORM TO MATURITY
081 1,474,945 0 64.4% 1.64 N/A PERFORMING PERFORM TO MATURITY
082 1,466,399 0 69.8% 1.60 N/A PERFORMING PERFORM TO MATURITY
083 1,471,109 0 74.5% 1.84 N/A PERFORMING PERFORM TO MATURITY
084 1,451,538 14 74.4% 1.52 N/A PERFORMING PERFORM TO MATURITY
085 1,445,297 0 72.6% 1.61 N/A PERFORMING PERFORM TO MATURITY
086 1,425,791 0 62.0% 1.81 N/A PERFORMING PERFORM TO MATURITY
087 1,420,313 0 53.6% 1.89 N/A PERFORMING PERFORM TO MATURITY
088 1,415,734 0 74.5% 1.42 N/A PERFORMING PERFORM TO MATURITY
089 1,405,733 0 69.2% 1.52 N/A PERFORMING PERFORM TO MATURITY
090 1,389,486 0 61.8% 2.29 N/A PERFORMING PERFORM TO MATURITY
091 1,373,285 0 63.9% 1.62 N/A PERFORMING PERFORM TO MATURITY
092 1,359,596 0 57.9% 1.58 N/A PERFORMING PERFORM TO MATURITY
093 1,353,641 0 57.6% 1.58 N/A PERFORMING PERFORM TO MATURITY
094 1,329,370 0 66.5% 1.49 N/A PERFORMING PERFORM TO MATURITY
095 1,307,417 0 67.0% 1.39 N/A PERFORMING PERFORM TO MATURITY
096 1,286,848 0 50.7% 1.52 N/A PERFORMING PERFORM TO MATURITY
097 1,267,806 0 69.9% 2.24 N/A PERFORMING PERFORM TO MATURITY
098 1,262,531 0 60.7% 1.58 N/A PERFORMING PERFORM TO MATURITY
099 1,242,648 0 74.0% 1.00 N/A PERFORMING PERFORM TO MATURITY
100 1,236,942 0 67.6% 1.79 N/A PERFORMING PERFORM TO MATURITY
101 1,219,393 0 52.4% 1.89 N/A PERFORMING PERFORM TO MATURITY
102 1,187,918 0 65.1% 1.75 N/A PERFORMING PERFORM TO MATURITY
103 1,182,029 0 69.5% 0.72 N/A PERFORMING PERFORM TO MATURITY
104 1,143,630 0 71.5% 1.86 N/A PERFORMING PERFORM TO MATURITY
105 1,133,115 0 69.9% 1.25 N/A PERFORMING PERFORM TO MATURITY
106 1,129,426 0 72.9% 1.29 N/A PERFORMING PERFORM TO MATURITY
107 1,129,325 0 53.8% 1.69 N/A PERFORMING PERFORM TO MATURITY
108 1,101,505 0 50.8% 1.72 N/A PERFORMING PERFORM TO MATURITY
109 1,096,878 0 63.8% 1.27 N/A PERFORMING PERFORM TO MATURITY
110 1,098,336 0 70.9% 1.42 N/A PERFORMING PERFORM TO MATURITY
111 1,046,662 0 64.6% 1.81 N/A PERFORMING PERFORM TO MATURITY
112 1,045,625 0 42.7% 1.99 N/A PERFORMING PERFORM TO MATURITY
113 1,041,948 0 73.9% 1.47 N/A PERFORMING PERFORM TO MATURITY
114 996,859 0 53.9% 1.94 N/A PERFORMING PERFORM TO MATURITY
115 989,430 0 68.2% 2.56 N/A PERFORMING PERFORM TO MATURITY
116 986,762 0 61.7% 1.46 N/A PERFORMING PERFORM TO MATURITY
117 971,802 0 67.7% 1.67 N/A PERFORMING PERFORM TO MATURITY
118 965,371 0 60.3% 1.45 N/A PERFORMING PERFORM TO MATURITY
119 961,086 0 66.3% 1.64 N/A PERFORMING PERFORM TO MATURITY
120 942,937 0 62.9% 1.73 N/A PERFORMING PERFORM TO MATURITY
121 930,732 0 71.6% 1.53 N/A PERFORMING PERFORM TO MATURITY
122 928,527 14 64.0% 1.95 N/A PERFORMING PERFORM TO MATURITY
123 924,887 0 57.1% 1.38 N/A PERFORMING PERFORM TO MATURITY
124 917,097 0 73.4% 1.82 N/A PERFORMING PERFORM TO MATURITY
125 914,942 0 57.5% 1.42 N/A PERFORMING PERFORM TO MATURITY
126 879,963 0 61.5% 1.58 N/A PERFORMING PERFORM TO MATURITY
127 873,542 0 42.9% 0.79 N/A PERFORMING PERFORM TO MATURITY
128 871,066 0 51.2% 1.62 N/A PERFORMING PERFORM TO MATURITY
129 858,983 0 73.4% 1.69 N/A PERFORMING PERFORM TO MATURITY
130 855,047 0 53.4% 1.58 N/A PERFORMING PERFORM TO MATURITY
131 850,459 0 53.2% 1.58 N/A PERFORMING PERFORM TO MATURITY
132 844,964 0 69.0% 1.58 N/A PERFORMING PERFORM TO MATURITY
133 842,249 0 43.8% 2.31 N/A PERFORMING PERFORM TO MATURITY
134 742,575 0 55.4% 1.58 N/A PERFORMING PERFORM TO MATURITY
135 723,737 0 58.4% 1.58 N/A PERFORMING PERFORM TO MATURITY
136 719,506 0 54.3% 1.58 N/A PERFORMING PERFORM TO MATURITY
137 711,299 0 74.9% 1.36 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 25
<PAGE>
<TABLE>
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
138 663,526 0 75.1% 1.49 N/A PERFORMING PERFORM TO MATURITY
139 655,593 0 62.4% 1.51 N/A PERFORMING PERFORM TO MATURITY
140 607,031 0 63.9% 1.63 N/A PERFORMING PERFORM TO MATURITY
141 562,022 0 63.5% 1.48 N/A PERFORMING PERFORM TO MATURITY
142 558,041 0 28.7% 2.21 N/A PERFORMING PERFORM TO MATURITY
143 524,125 0 53.7% 1.04 N/A PERFORMING PERFORM TO MATURITY
- --- --- - ------ ---- ---- ------------------------- ------------------------------
TOTAL 370,369,963
===========
</TABLE>
Page - 26
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: NOVEMBER, 1996
DATE PRINTED: 26-NOV-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>
000 5,438,765 10/1/93 4/1/2008 137 12.350% F 189,254
001 17,748,864 6/25/96 7/1/2026 56 8.780% F 140,335
002 10,382,755 8/21/96 9/1/2021 82 9.460% F 90,575
003 9,375,770 7/15/96 8/1/2021 81 9.270% F 80,630
004 8,437,203 11/22/95 12/1/2025 72 8.163% F 63,339
005 8,269,115 12/6/95 1/1/2021 110 8.700% F 68,366
006 7,315,740 12/6/95 9/1/2019 110 8.500% F 60,578
007 7,196,726 10/19/95 12/1/2025 109 8.190% F 54,161
008 6,977,258 6/27/96 7/1/2021 176 9.630% F 61,793
009 6,974,743 6/27/96 7/1/2021 116 9.000% F 58,744
010 6,771,428 12/12/95 1/1/2021 73 7.640% F 51,246
011 6,682,562 12/1/95 12/1/2015 169 8.920% F 60,832
012 5,733,815 6/20/96 7/1/2021 140 9.170% F 48,959
013 5,487,490 6/18/96 7/1/2026 80 8.860% F 43,701
015 5,421,037 1/30/96 2/1/2016 171 8.730% F 48,534
016 5,247,533 4/18/96 5/1/2021 114 9.280% F 45,283
017 5,231,429 4/16/96 5/1/2026 78 8.720% F 41,189
018 5,041,921 9/29/95 10/1/2020 167 9.390% F 44,169
019 4,949,111 6/11/96 7/1/2021 116 9.720% F 44,141
020 4,879,204 5/31/96 6/1/2021 115 9.390% F 42,437
021 4,405,760 6/28/96 7/1/2021 116 9.680% F 39,172
022 4,314,218 6/28/96 8/1/2021 141 9.470% F 37,697
023 4,308,781 7/10/95 8/1/2025 105 8.540% F 33,571
024 4,036,208 4/4/96 5/1/2021 114 8.560% F 32,857
025 3,964,011 9/22/95 10/1/2020 107 9.630% F 35,310
026 3,928,377 6/26/96 7/1/2021 116 9.260% F 33,786
027 3,880,159 4/8/96 5/1/2021 114 9.420% F 33,858
028 3,873,457 3/4/96 4/1/2021 137 8.610% F 31,693
029 3,638,476 6/20/96 7/1/2021 116 9.800% F 32,654
030 3,611,899 6/27/96 7/1/2021 116 8.990% F 30,396
031 3,608,453 5/20/96 6/1/2021 115 8.950% F 30,297
032 3,533,742 5/6/96 6/1/2021 114 8.930% F 29,621
033 3,487,944 6/28/96 7/1/2021 176 9.280% F 30,046
034 3,476,102 3/26/96 4/1/2021 113 8.590% F 28,396
035 3,402,635 6/26/96 7/1/2026 80 9.110% F 27,708
036 3,369,101 1/30/96 2/1/2021 111 8.420% F 27,195
037 3,320,975 2/5/96 3/1/2011 172 8.210% F 32,906
038 3,300,719 5/30/96 6/1/2021 175 9.300% F 28,504
039 3,284,564 3/21/96 4/1/2026 113 8.120% F 24,491
040 3,268,281 3/21/96 4/1/2026 113 8.675% F 25,644
041 3,168,373 6/27/96 7/1/2021 116 8.920% F 26,512
042 3,073,717 5/14/96 6/1/2016 175 9.620% F 29,139
043 2,968,609 6/27/96 7/1/2011 176 9.240% F 30,858
044 2,825,332 6/25/96 7/1/2021 116 9.340% F 24,455
045 2,780,819 3/29/96 4/1/2021 113 8.570% F 22,679
046 2,590,727 6/21/96 7/1/2021 140 9.070% F 21,944
047 2,585,217 6/4/96 7/1/2016 176 9.500% F 24,235
048 2,544,650 6/19/96 7/1/2016 140 9.080% F 23,165
049 2,548,025 3/8/96 4/1/2026 113 8.120% F 18,999
050 2,523,317 6/27/96 7/1/2011 176 9.240% F 26,229
051 2,488,306 3/22/96 4/1/2026 113 8.120% F 18,554
052 2,460,948 4/20/94 5/1/2024 90 9.800% F 21,571
053 2,393,503 8/9/96 9/1/2016 118 9.820% F 22,875
054 2,381,710 10/26/95 11/1/2025 107 8.460% F 18,386
055 2,319,389 3/22/96 4/1/2016 137 8.850% F 20,873
056 2,292,051 6/26/96 7/1/2021 116 9.260% F 19,713
057 2,287,354 6/27/96 7/1/2021 140 9.480% F 20,019
058 2,276,346 4/14/89 5/1/2014 29 11.380% F 24,185
059 2,190,332 5/20/96 6/1/2021 175 9.180% F 18,734
060 2,174,806 11/23/94 12/1/2024 61 9.875% F 19,104
061 2,082,004 2/27/96 3/1/2021 112 8.030% F 16,250
062 2,039,058 4/29/96 5/1/2021 78 9.130% F 17,386
063 2,030,173 5/3/96 6/1/2021 115 9.560% F 17,896
064 2,027,843 4/7/94 5/1/2001 54 9.250% F 16,978
</TABLE>
Page - 27
<PAGE>
<TABLE>
<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>
065 1,893,466 6/21/96 7/1/2021 176 9.290% F 16,324
066 1,860,175 4/2/96 6/1/2026 79 8.800% F 14,743
067 1,808,559 6/28/96 7/1/2021 140 9.100% F 15,356
068 1,796,232 6/25/96 7/1/2026 176 9.260% F 14,821
069 1,793,696 6/27/96 7/1/2021 116 9.180% F 15,328
070 1,792,037 5/2/96 6/1/2021 175 9.140% F 15,278
071 1,786,773 10/19/95 12/1/2025 109 8.190% F 13,447
072 1,709,369 3/22/96 4/1/2021 137 9.360% F 14,845
073 1,677,283 5/6/96 6/1/2021 114 8.930% F 14,060
074 1,654,592 3/28/96 4/1/2021 137 9.130% F 14,121
075 1,586,435 5/14/96 6/1/2016 175 9.620% F 15,040
076 1,574,539 12/7/95 1/1/2016 170 8.780% F 14,170
077 1,564,938 7/5/95 8/1/2025 70 8.510% F 12,160
078 1,543,389 5/7/96 6/1/2021 79 9.360% F 13,392
079 1,496,462 7/17/96 8/1/2021 117 9.800% F 13,420
080 1,486,693 4/16/96 5/1/2016 138 9.250% F 13,738
081 1,474,945 12/5/94 1/1/2020 62 10.500% F 14,163
082 1,466,399 6/19/96 7/1/2012 188 9.330% F 14,868
083 1,471,109 11/28/95 1/1/2026 62 8.050% F 10,921
084 1,451,538 4/30/96 2/1/2016 114 9.110% F 13,262
085 1,445,297 6/27/96 7/1/2021 140 9.640% F 12,810
086 1,425,791 3/28/96 4/1/2021 137 8.970% F 12,013
087 1,420,313 3/22/96 4/1/2016 113 9.370% F 13,255
088 1,415,734 3/25/96 4/1/2021 112 8.890% F 11,851
089 1,405,733 5/24/96 6/1/2021 139 9.120% F 11,966
090 1,389,486 6/21/96 7/1/2021 116 9.650% F 12,325
091 1,373,285 6/28/96 7/1/2008 140 9.320% F 11,868
092 1,359,596 1/26/96 2/1/2016 111 8.700% F 12,147
093 1,353,641 1/26/96 2/1/2016 111 8.700% F 12,093
094 1,329,370 3/28/96 4/1/2021 173 9.300% F 11,500
095 1,307,417 7/5/95 8/1/2025 70 8.510% F 10,159
096 1,286,848 12/7/95 1/1/2021 109 8.430% F 10,407
097 1,267,806 3/23/94 4/1/2019 53 8.750% F 10,770
098 1,262,531 1/26/96 2/1/2016 111 8.700% F 11,279
099 1,242,648 5/30/96 12/1/2018 175 8.950% F 10,772
100 1,236,942 12/20/95 1/1/2021 170 8.230% F 9,839
101 1,219,393 3/28/96 4/1/2021 173 9.300% F 10,549
102 1,187,918 12/15/95 1/1/2021 110 8.460% F 9,630
103 1,182,029 5/20/96 6/1/2010 163 9.160% F 12,700
104 1,143,630 2/12/96 3/1/2026 76 7.960% F 8,406
105 1,133,115 4/3/96 5/1/2012 186 8.750% F 11,149
106 1,129,426 2/8/96 3/1/2016 112 8.180% F 9,706
107 1,129,325 6/27/96 7/1/2021 116 9.640% F 10,009
108 1,101,505 6/27/96 7/1/2021 140 9.790% F 9,878
109 1,096,878 8/14/96 9/1/2016 178 9.450% F 10,218
110 1,098,336 7/12/96 8/1/2026 117 9.420% F 9,185
111 1,046,662 6/7/96 7/1/2021 140 9.760% F 9,364
112 1,045,625 5/22/96 6/1/2021 139 9.500% F 9,174
113 1,041,948 2/22/96 3/1/2021 136 8.720% F 8,611
114 996,859 6/26/96 7/1/2021 140 9.830% F 8,967
115 989,430 1/31/94 2/1/2024 51 9.000% F 8,127
116 986,762 6/28/96 7/1/2021 116 9.590% F 8,712
117 971,802 4/18/94 5/1/2019 54 9.375% F 8,650
118 965,371 12/20/95 1/1/2021 134 8.580% F 7,904
119 961,086 6/19/96 7/1/2012 188 9.330% F 9,744
120 942,937 2/23/96 3/1/2021 136 8.910% F 7,914
121 930,732 6/28/96 7/1/2016 140 9.580% F 8,774
122 928,527 6/6/96 7/1/2021 116 9.090% F 7,870
123 924,887 4/29/96 5/1/2021 174 8.950% F 7,773
124 917,097 12/3/93 1/1/2014 50 8.750% F 8,616
125 914,942 4/29/96 5/1/2021 174 8.950% F 7,689
126 879,963 1/26/96 2/1/2016 111 8.700% F 7,862
127 873,542 4/15/93 4/15/2008 137 9.600% F 10,529
128 871,066 1/26/96 2/1/2016 111 8.700% F 7,782
129 858,983 5/23/96 6/1/2021 115 9.630% F 7,614
130 855,047 1/26/96 2/1/2016 111 8.700% F 7,639
131 850,459 1/26/96 2/1/2016 111 8.700% F 7,598
132 844,964 1/26/96 2/1/2016 111 8.700% F 7,549
133 842,249 3/28/96 4/1/2021 173 9.300% F 7,286
134 742,575 1/26/96 2/1/2016 111 8.700% F 6,634
135 723,737 1/26/96 2/1/2016 111 8.700% F 6,466
136 719,506 1/26/96 2/1/2016 111 8.700% F 6,428
137 711,299 9/10/96 10/1/2021 137 9.360% F 6,156
</TABLE>
Page - 28
<PAGE>
<TABLE>
<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>
138 663,526 4/18/94 5/1/2024 54 9.375% F 5,614
139 655,593 4/4/94 5/1/2019 54 9.250% F 5,781
140 607,031 4/4/94 5/1/2019 54 9.250% F 5,352
141 562,022 5/23/96 6/1/2016 115 9.620% F 5,320
142 558,041 9/1/94 9/1/2009 154 9.900% A 6,412
143 524,125 4/15/93 4/15/2008 137 9.600% F 6,318
- -- ----------- -------- --------- --- ------ -- -----------
TOTAL 370,369,963
===========
</TABLE>
Page - 29
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: NOVEMBER, 1996
DATE PRINTED: 26-NOV-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>
001 1 MULTI-FAMILY LAS VEGAS NV 81901 1984 489 393,039 22,500,000 01/09/96 MAI APPRAISAL
002 1 OFFICE BOSTON MA 02118 1902 N/A 187,143 15,900,000 05/01/96 MAI APPRAISAL
003 1 MANUFACTURED HOU CHICAGO IL 60633 1970 654 N/A 16,500,000 05/23/96 MAI APPRAISAL
004 1 MULTI-FAMILY SAN BERNARDINO CA 92407 1988 304 248,368 11,500,000 08/28/95 MAI APPRAISAL
005 1 RETAIL CAGUAS PR 62500 1995 N/A 98,806 13,400,000 09/26/95 MAI APPRAISAL
006 1 RETAIL CAGUAS PR 62500 1995 N/A 109,800 10,400,000 09/26/96 MAI APPRAISAL
007 1 MULTI-FAMILY CHAMPAIGN IL 61820 1965 285 253,840 9,650,000 05/30/95 MAI APPRAISAL
008 1 OFFICE NEW YORK NY 10022 1904 N/A 13,349 10,700,000 05/17/96 MAI APPRAISAL
009 1 MULTI-FAMILY MERRILLVILLE IN 46410 1974 376 N/A 9,780,000 02/14/96 APPRAISAL (NON-
010 1 RETAIL NEWARK NY 14513 1974 N/A 178,248 9,200,000 07/27/95 MAI APPRAISAL
011 1 LODGING KANSAS CITY MO 64112 1927 123 N/A 9,800,000 11/10/95 MAI APPRAISAL
012 1 RETAIL LEBANON PA 17046 1989 N/A 104,092 7,700,000 05/24/96 MAI APPRAISAL
013 1 MULTI-FAMILY GARLAND TX 75042 1983 298 N/A 8,600,000 06/01/96 MAI APPRAISAL
015 1 LODGING CHICAGO IL 60611 1925 172 N/A 9,000,000 11/22/95 MAI APPRAISAL
016 1 MIXED USE WASHINGTON DC 20005 1959 N/A 64,543 7,200,000 03/05/96 MAI APPRAISAL
017 1 MULTI-FAMILY MARINA CA 93933 1986 134 101,580 6,800,000 11/28/95 MAI APPRAISAL
018 1 RETAIL ANTIOCH CA 94509 1989 N/A 90,537 7,700,000 09/12/95 MAI APPRAISAL
019 1 RETAIL DOVER DE 19901 1989 N/A 113,687 6,750,000 05/21/96 MAI APPRAISAL
020 1 OFFICE SOLON OH 44139 1954 N/A 326,480 6,265,000 04/17/96 MAI APPRAISAL
021 1 RETAIL SPRINGFIELD VA 22151 1970 N/A 85,850 6,700,000 05/21/96 MAI APPRAISAL
022 1 RETAIL FOUNTAIN VALLEY CA 92728 1987 N/A 39,600 6,060,000 04/04/96 MAI APPRAISAL
023 1 MULTI-FAMILY KANSAS CITY KS 66103 1968 372 N/A 6,100,000 03/17/95 MAI APPRAISAL
024 1 MULTI-FAMILY LAKELAND FL 33801 1984 126 79,731 6,000,000 02/27/96 MAI APPRAISAL
025 1 HEALTH CARE ESCONDIDO CA 92026 1989 105 32,438 5,800,000 01/01/95 MAI APPRAISAL
026 1 MULTI-FAMILY SYLVANIA OH 43560 1970 210 N/A 5,550,000 05/17/96 MAI APPRAISAL
027 1 MIXED USE TEMPE AZ 85012 1985 N/A 80,854 5,600,000 03/18/96 MAI APPRAISAL
028 1 OFFICE SAN DIEGO CA 92108 1982 N/A 79,956 5,800,000 09/08/95 MAI APPRAISAL
029 1 MIXED USE FONTANA CA 92335 1988 N/A 71,740 6,500,000 05/24/96 MAI APPRAISAL
030 1 MULTI-FAMILY TUCSON AZ 85741 1985 144 N/A 4,900,000 01/10/96 MAI APPRAISAL
031 1 MULTI-FAMILY SYLVANIA OH 43623 1989 87 N/A 5,120,000 04/17/96 MAI APPRAISAL
032 1 RETAIL HINESVILLE GA 31313 1989 N/A 76,123 4,850,000 02/01/96 MAI APPRAISAL
033 1 MULTI-FAMILY PASADENA TX 77505 1972 698 569,612 10,130,000 02/26/96 MAI APPRAISAL
034 1 MULTI-FAMILY STILLWATER OK 74074 1984 140 116,340 3,400,000 02/09/96 MAI APPRAISAL
034 2 MULTI-FAMILY STILLWATER OK 74075 1971 104 77,768 1,910,000 02/09/96 MAI APPRAISAL
035 1 MANUFACTURED HOU PACIFICA CA 94044 1959 93 N/A 4,725,000 04/27/96 MAI APPRAISAL
036 1 RETAIL DELRAY BEACH FL 33483 1982 N/A 45,189 4,550,000 10/25/95 MAI APPRAISAL
037 1 RETAIL AMHERST NY 14221 1984 N/A 84,425 4,600,000 10/13/95 MAI APPRAISAL
038 1 OFFICE RAMSEY NJ 07446 1972 N/A 73,700 6,100,000 04/10/96 MAI APPRAISAL
039 1 MULTI-FAMILY COLUMBUS OH 43232 1983 120 N/A 5,400,000 01/30/96 MAI APPRAISAL
040 1 MULTI-FAMILY INDIANAPOLIS IN 46240 1973 214 N/A 4,750,000 12/21/95 MAI APPRAISAL
041 1 MULTI-FAMILY BATON ROUGE LA 70815 1975 203 N/A 4,350,000 05/09/96 MAI APPRAISAL
042 1 MULTI-FAMILY LOS ALAMOS NM 87544 1970 105 90,373 4,950,000 03/18/96 MAI APPRAISAL
043 1 MULTI-FAMILY HOUSTON TX 77054 1978 264 N/A 4,700,000 05/17/96 MAI APPRAISAL
044 1 MULTI-FAMILY KILLEEN TX 76542 1975 150 N/A 3,850,000 06/08/96 MAI APPRAISAL
045 1 HEALTH CARE WEATHERFORD TX 76086 1989 81 N/A 4,000,000 03/03/96 MAI APPRAISAL
046 1 INDUSTRIAL COLUMBUS OH 43224 1988 N/A 149,900 3,775,000 06/11/96 MAI APPRAISAL
047 1 LODGING OREGON OH 43616 1988 78 N/A 4,200,000 11/02/95 MAI APPRAISAL
048 1 MULTI-FAMILY STILLWATER OK 74074 1983 162 N/A 4,155,000 05/08/96 MAI APPRAISAL
049 1 MULTI-FAMILY BELLEVILLE IL 62220 1984 76 40,698 3,800,000 01/16/96 MAI APPRAISAL
050 1 MULTI-FAMILY HOUSTON TX 77054 1978 256 N/A 4,700,000 05/17/96 MAI APPRAISAL
051 1 MULTI-FAMILY FINDLAY OH 45840 1983 73 N/A 3,300,000 01/23/96 MAI APPRAISAL
051 2 MULTI-FAMILY SPRINGFIELD OH 45503 1983 77 N/A 2,600,000 01/15/96 MAI APPRAISAL
052 1 MULTI-FAMILY WESTMINISTER CO 80209 1973 180 N/A 3,660,000 03/19/94 MAI APPRAISAL
053 1 LODGING WHITEHALL PA 18052 1969 122 69,696 3,700,000 04/24/96 MAI APPRAISAL
054 1 MULTI-FAMILY ESSEXVILLE MI 48732 1976 150 90,750 3,460,000 09/08/95 MAI APPRAISAL
055 1 RETAIL LONG ISLAND CIT NY 11103 1945 N/A 7,100 3,350,000 02/13/96 MAI APPRAISAL
056 1 MULTI-FAMILY TOLEDO OH 43615 1973 100 N/A 3,070,000 05/24/96 MAI APPRAISAL
057 1 MANUFACTURED HOU GREEN RIVER WY 82935 1979 307 N/A 3,200,000 05/30/96 MAI APPRAISAL
058 1 MIXED USE NEW YORK NY 10012 1892 N/A 26,300 4,600,000 05/07/96 MAI APPRAISAL
059 1 MULTI-FAMILY MOORE OK 73160 1984 96 N/A 3,120,000 02/12/96 MAI APPRAISAL
060 1 MULTI-FAMILY PHOENIX AZ 85013 1984 132 113,898 3,350,000 08/16/94 MAI APPRAISAL
061 1 MULTI-FAMILY FORT WORTH TX 76120 1985 124 89,280 3,250,000 02/01/96 MAI APPRAISAL
</TABLE>
Page - 30
<PAGE>
<TABLE>
<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>
062 1 RETAIL SAGINAW MI 48602 1963 N/A 144,991 3,050,000 11/30/95 MAI APPRAISAL
063 1 RETAIL MERIDIAN ID 83651 1975 N/A 68,652 3,200,000 02/01/96 MAI APPRAISAL
064 1 MULTI-FAMILY TULSA OK 74135 1966 136 92,462 3,000,000 12/29/93 MAI APPRAISAL
065 1 MULTI-FAMILY OKLAHOMA CITY OK 73120 1974 126 132,436 2,690,000 05/22/96 MAI APPRAISAL
066 1 MULTI-FAMILY DALLAS TX 75277 1984 120 88,360 2,750,000 09/12/95 MAI APPRAISAL
067 1 MULTI-FAMILY BEAUMONT TX 77703 1969 122 N/A 2,420,000 06/05/96 MAI APPRAISAL
068 1 MULTI-FAMILY BILLINGS MT 59105 1994 60 N/A 2,500,000 06/15/96 MAI APPRAISAL
069 1 MULTI-FAMILY RICHARDSON TX 75082 1980 88 72,292 2,650,000 06/05/96 MAI APPRAISAL
070 1 MULTI-FAMILY OKLAHOMA CITY OK 73135 1974 224 N/A 3,175,000 03/19/96 MAI APPRAISAL
071 1 MULTI-FAMILY CHAMPAIGN IL 61821 1965 84 67,250 2,400,000 05/30/95 MAI APPRAISAL
072 1 INDUSTRIAL ROSEVILLE MI 48066 1969 N/A 21,700 895,000 02/12/96 MAI APPRAISAL
072 2 INDUSTRIAL ROSEVILLE MI 48066 1972 N/A 43,962 1,400,000 02/12/96 MAI APPRAISAL
073 1 RETAIL POOLER GA 31322 1989 N/A 44,000 2,325,000 02/02/96 MAI APPRAISAL
074 1 OFFICE COLORADO SPRING CO 80918 1982 N/A 22,837 2,878,000 01/17/96 MAI APPRAISAL
074 2 OFFICE COLORADO SPRING CO 80918 1981 N/A 33,278 1,432,000 01/17/96 MAI APPRAISAL
075 1 MULTI-FAMILY LOS ALAMOS NM 87544 1953 76 47,880 2,575,000 03/18/96 MAI APPRAISAL
076 1 WAREHOUSE FALLS CHURCH VA 22041 1986 688 27,566 2,550,000 10/10/95 MAI APPRAISAL
077 1 MULTI-FAMILY PHOENIX AZ 85021 1986 117 86,336 2,100,000 12/05/94 MAI APPRAISAL
078 1 OFFICE HOUSTON TX 77073 1984 N/A 49,640 2,300,000 03/21/96 MAI APPRAISAL
079 1 RETAIL UNIVERSAL CITY TX 78148 1988 N/A 65,287 2,570,000 06/18/96 MAI APPRAISAL
080 1 MANUFACTURED HOU WEST WENDOVER NV 89883 1983 164 N/A 2,250,000 02/12/96 MAI APPRAISAL
081 1 MULTI-FAMILY LAKEWOOD CO 80226 1961 46 33,476 1,300,000 11/11/94 MAI APPRAISAL
081 2 MULTI-FAMILY LITTLETON CO 80120 1961 35 22,309 990,000 11/11/94 MAI APPRAISAL
082 1 OTHER BROOKLYN NY 11228 1927 66 60,000 2,100,000 12/11/95 MAI APPRAISAL
083 1 MULTI-FAMILY DALLAS TX 75219 1972 120 86,044 1,975,000 08/01/95 MAI APPRAISAL
084 1 MULTI-FAMILY DALLAS TX 75228 1956 172 N/A 1,950,000 03/29/96 MAI APPRAISAL
085 1 RETAIL ROSEDA CA 91335 1986 N/A 20,191 1,992,000 05/17/96 MAI APPRAISAL
086 1 MULTI-FAMILY BRYAN TX 77801 1963 60 50,837 1,200,000 03/26/96 MAI APPRAISAL
086 2 MULTI-FAMILY BRYAN TX 77802 1971 48 42,432 1,100,000 03/26/96 MAI APPRAISAL
087 1 MIXED USE COLORADO SPRING CO 80905 1985 338 72,584 2,650,000 10/18/95 MAI APPRAISAL
088 1 RETAIL LIVE OAK FL 32060 1988 N/A 34,425 1,900,000 11/08/95 MAI APPRAISAL
089 1 MULTI-FAMILY FLINT TOWNSHIP MI 48532 1972 99 51,785 2,030,000 03/18/96 MAI APPRAISAL
090 1 OFFICE VIRGINIA BEACH VA 23452 1986 N/A 31,587 2,250,000 04/17/96 MAI APPRAISAL
091 1 MULTI-FAMILY TAMPA FL 33616 1986 112 N/A 2,150,000 05/31/96 MAI APPRAISAL
092 1 RETAIL BRIDGEWATER NJ 08807 1985 N/A 20,656 2,350,000 08/20/95 MAI APPRAISAL
093 1 RETAIL STATEN ISLAND NY 10306 1984 N/A 14,560 2,350,000 08/19/95 MAI APPRAISAL
094 1 RETAIL SEBRING FL 33870 1985 N/A 33,896 2,000,000 03/25/96 MAI APPRAISAL
095 1 MULTI-FAMILY GLENDALE AZ 85301 1984 72 69,786 1,950,000 01/28/95 MAI APPRAISAL
096 1 MULTI-FAMILY COLLEGE PARK GA 30337 1971 124 134,900 2,540,000 09/28/95 MAI APPRAISAL
097 1 MULTI-FAMILY LITTLE ROCK AR 72209 1974 133 85,540 1,815,000 03/07/94 MAI APPRAISAL
098 1 RETAIL DEPTFORD NJ 08096 1984 N/A 18,739 2,080,000 08/25/95 MAI APPRAISAL
099 1 RETAIL ORCHARD PARK NY 14127 1977 N/A 29,631 1,680,000 10/12/95 MAI APPRAISAL
100 1 OTHER OKLAHOMA CITY OK 73139 1979 62 61,380 1,830,000 10/24/95 MAI APPRAISAL
101 1 RETAIL CRYSTAL RIVER FL 34429 1987 N/A 40,895 2,325,000 03/25/96 MAI APPRAISAL
102 1 RETAIL CHESAPEAKE VA 23321 1988 N/A 18,150 1,825,000 11/25/95 MAI APPRAISAL
103 1 MULTI-FAMILY KANSAS CITY MO 64109 1914 85 52,060 1,700,000 05/03/96 MAI APPRAISAL
104 1 MULTI-FAMILY IRVING TX 75061 1965 76 51,336 1,600,000 12/12/95 MAI APPRAISAL
105 1 MULTI-FAMILY ALAMOGORDO NM 88310 1986 56 N/A 1,620,000 01/19/96 MAI APPRAISAL
106 1 MULTI-FAMILY KANSAS CITY MO 64137 1968 74 55,668 1,550,000 01/03/96 MAI APPRAISAL
107 1 OFFICE SILVER SPRINGS MD 20901 1968 N/A 20,150 2,100,000 05/17/96 MAI APPRAISAL
108 1 OFFICE NEWPORT BEACH CA 92660 1976 N/A 26,072 2,170,000 06/03/96 MAI APPRAISAL
109 1 MANUFACTURED HOU HOUSTON TX 77396 1971 231 N/A 1,720,000 06/03/96 MAI APPRAISAL
110 1 MULTI-FAMILY MONTCLAIR NJ 07042 1920 27 19,994 1,550,000 01/11/96 MAI APPRAISAL
111 1 OFFICE BRIGHTON MA 02109 1859 N/A 15,594 1,620,000 04/22/96 MAI APPRAISAL
112 1 OFFICE ARLINGTON TX 76012 1975 N/A 59,886 2,450,000 04/05/96 MAI APPRAISAL
113 1 RETAIL TEMECULA CA 92590 1990 N/A 31,446 1,410,000 11/01/95 MAI APPRAISAL
114 1 OFFICE SAN PEDRO CA 90731 1978 N/A 32,756 1,850,000 05/17/96 MAI APPRAISAL
115 1 MULTI-FAMILY RICHMOND TX 77469 1978 132 N/A 1,450,000 09/01/93 MAI APPRAISAL
116 1 RETAIL PHOENIX AZ 85032 1978 N/A 21,320 1,600,000 06/04/96 MAI APPRAISAL
117 1 MULTI-FAMILY AUSTIN TX 78722 1969 73 49,275 1,435,000 04/04/94 MAI APPRAISAL
118 1 RETAIL KENT OH 44240 1984 N/A 23,400 1,600,000 10/23/95 MAI APPRAISAL
119 1 MULTI-FAMILY BROOKLYN NY 11226 1963 57 N/A 1,450,000 12/11/95 MAI APPRAISAL
120 1 RETAIL INDIANAPOLIS IN 46220 1987 N/A 36,188 1,500,000 10/29/95 MAI APPRAISAL
121 1 INDUSTRIAL EL PASO TX 79932 1980 N/A 50,300 1,300,000 06/14/96 MAI APPRAISAL
122 1 MULTI-FAMILY ODESSA TX 79761 1980 160 N/A 1,450,000 05/07/96 MAI APPRAISAL
123 1 MULTI-FAMILY MEMPHIS TN 38104 1928 48 N/A 1,620,000 10/25/95 MAI APPRAISAL
124 1 MULTI-FAMILY OKLAHOMA CITY OK 73112 1968 92 N/A 1,250,000 05/03/93 MAI APPRAISAL
125 1 MULTI-FAMILY MEMPHIS TN 38104 1928 46 N/A 1,590,000 10/25/95 MAI APPRAISAL
126 1 RETAIL BROOK HAVEN PA 19015 1983 N/A 18,739 1,430,000 08/25/95 MAI APPRAISAL
</TABLE>
Page - 31
<PAGE>
<TABLE>
<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>
127 1 MULTI-FAMILY PITTSBURG PA 15206 1967 56 51,904 2,037,000 02/13/93 MAI APPRAISAL
128 1 RETAIL SCHAUMBERG IL 60172 1986 N/A 19,000 1,700,000 08/21/95 MAI APPRAISAL
129 1 MIXED USE MANCHESTER NH 03103 1983 N/A 23,473 1,170,000 04/02/96 MAI APPRAISAL
130 1 RETAIL LIBERTYVILLE IL 60038 1985 N/A 18,670 1,600,000 08/18/95 MAI APPRAISAL
131 1 RETAIL LAKE ZURICH IL 60047 1986 N/A 18,670 1,600,000 08/18/95 MAI APPRAISAL
132 1 RETAIL CRYSTAL LAKE IL 60014 1986 N/A 18,670 1,224,748 08/18/95 UNDERWRITERS VA
133 1 RETAIL SPRING HILL FL 34606 1984 N/A 33,896 1,925,000 03/25/96 MAI APPRAISAL
134 1 RETAIL ST PETERS MO 63304 1992 N/A 20,550 1,340,000 08/17/95 MAI APPRAISAL
135 1 RETAIL ST CHARLES MO 63301 1986 N/A 18,968 1,240,000 08/17/95 MAI APPRAISAL
136 1 RETAIL BRIDGETON MO 63044 1986 N/A 18,968 1,325,000 08/18/95 MAI APPRAISAL
137 1 INDUSTRIAL STERLING HEIGHT MI 48311 1979 N/A 21,389 950,000 02/12/96 MAI APPRAISAL
138 1 MULTI-FAMILY GREENVILLE TX 75401 1984 32 35,168 884,000 04/11/94 MAI APPRAISAL
139 1 MULTI-FAMILY ATLANTA GA 30308 1930 32 25,480 1,050,000 03/20/94 MAI APPRAISAL
140 1 MULTI-FAMILY ATLANTA GA 30306 1960 32 19,712 950,000 03/20/94 MAI APPRAISAL
141 1 WAREHOUSE WALDORF MD 20602 1985 205 21,483 885,000 04/02/96 MAI APPRAISAL
142 1 MULTI-FAMILY PITTSBURGH PA 15206 1971 55 N/A 1,946,000 08/01/94 MAI APPRAISAL
143 1 MULTI-FAMILY PITTSBURGH PA 15207 1967 46 33,476 976,000 02/13/93 MAI APPRAISAL
</TABLE>
Page - 32
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: NOVEMBER, 1996
DATE PRINTED: 26-NOV-96
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
001 1 2,260,558 12/31/95 N/A 570,471 1/1/96 3/31/96 N/A 93.7% 1/6/96
002 1 1,691,446 6/30/96 N/A 1,691,446 7/1/95 6/30/96 N/A 97.0% 6/21/96
003 1 1,407,000 12/31/95 N/A 484,864 1/1/96 4/30/96 N/A 76.0% 6/10/96
004 1 1,295,267 12/31/95 N/A 349,129 1/1/96 3/31/96 N/A 95.7% 3/31/96
005 1 1,209,636 9/1/96 N/A 218,982 1/1/96 3/31/96 N/A 97.5% 3/18/96
006 1 965,274 N/A UNDERWRITER 221,264 1/1/96 3/31/96 N/A 100.0% 3/31/96
007 1 910,155 12/31/95 N/A 568,317 1/1/96 9/30/96 BORROWER 94.4% 4/10/96
008 1 741,510 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 5/17/96
009 1 966,841 12/31/95 BORROWER 966,841 1/1/95 12/31/95 BORROWER 90.2% 6/26/96
010 1 794,247 12/31/95 N/A 227,454 1/1/96 3/31/96 N/A 100.0% 3/25/96
011 1 1,406,936 12/31/95 BORROWER 1,021,964 1/1/96 9/30/96 BORROWER 84.7% 9/30/96
012 1 727,590 12/31/95 BORROWER 727,590 1/1/95 12/31/95 BORROWER 100.0% 6/19/96
013 1 903,048 12/31/95 BORROWER 903,048 1/1/95 12/31/95 BORROWER 96.0% 5/13/96
015 1 1,176,471 12/31/95 BORROWER 1,554,327 1/1/96 9/30/96 BORROWER 71.1% 9/30/96
016 1 819,088 12/31/95 BORROWER 819,088 1/1/95 12/31/95 BORROWER 92.5% 6/30/96
017 1 659,803 12/31/95 N/A 494,955 1/1/96 9/30/96 BORROWER 99.3% 2/29/96
018 1 733,489 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 9/12/95
019 1 549,623 12/31/95 BORROWER 549,623 1/1/95 12/31/95 BORROWER 95.3% 7/31/96
020 1 886,178 12/31/95 BORROWER 231,390 1/1/96 6/30/96 BORROWER 82.7% 5/10/96
021 1 688,928 12/31/95 BORROWER 688,928 1/1/95 12/31/95 BORROWER 92.1% 6/30/96
022 1 415,979 12/31/95 BORROWER 433,462 1/1/96 9/30/96 BORROWER 95.8% 9/30/96
023 1 565,464 12/31/95 N/A 142,360 1/1/96 3/31/96 N/A 90.1% 3/31/96
024 1 411,237 12/31/95 BORROWER 411,237 1/1/95 12/31/95 BORROWER 79.4% 6/1/96
025 1 975,953 12/31/95 N/A 118,287 1/1/96 2/28/96 N/A 97.1% 6/30/95
026 1 564,447 2/29/96 BORROWER 564,447 3/1/95 2/29/96 BORROWER 98.1% 6/24/96
027 1 486,085 12/31/95 BORROWER 486,085 1/1/95 12/31/95 BORROWER 94.5% 4/1/96
028 1 473,834 12/31/95 PROSPECTUS 151,332 1/1/96 3/31/96 RECEIVER 97.9% 3/26/96
029 1 630,549 12/31/95 BORROWER 122,158 1/1/96 2/29/96 BORROWER 86.7% 3/1/96
030 1 493,878 12/31/95 BORROWER 380,894 1/1/96 9/30/96 BORROWER 93.8% 9/30/96
031 1 519,264 12/31/95 BORROWER 519,264 1/1/95 12/31/95 BORROWER 93.1% 3/15/96
032 1 427,764 12/31/95 N/A 427,764 1/1/95 12/31/95 N/A 97.4% 2/29/96
033 1 714,772 12/31/95 BORROWER 714,772 1/1/95 12/31/95 BORROWER 74.6% 6/3/96
034 1 375,430 12/31/95 BORROWER 375,430 1/1/95 12/31/95 BORROWER 97.1% 5/28/96
034 2 214,407 12/31/95 BORROWER 214,407 1/1/95 12/31/95 BORROWER 96.2% 5/26/96
035 1 416,481 12/31/95 BORROWER 416,481 1/1/95 12/31/95 BORROWER 100.0% 4/15/96
036 1 464,964 12/31/95 BORROWER 255,526 1/1/96 6/30/96 BORROWER 95.0% 7/8/96
037 1 146,547 12/31/95 BORROWER 427,413 1/1/96 9/30/96 BORROWER 85.3% 7/24/96
038 1 864,097 12/31/95 BORROWER 124,324 1/1/96 2/28/96 BORROWER 100.0% 4/26/96
039 1 570,607 12/31/95 BORROWER 174,609 1/1/96 3/31/96 BORROWER 97.5% 5/1/96
040 1 404,060 12/31/95 N/A 199,468 1/1/96 6/30/96 N/A 100.0% 3/20/96
041 1 451,656 12/31/95 BORROWER 451,656 1/1/95 12/31/95 BORROWER 88.2% 5/17/96
042 1 539,086 12/31/95 BORROWER 433,811 1/1/96 9/30/96 BORROWER 94.3% 9/30/96
043 1 501,465 12/31/95 BORROWER 369,789 1/1/96 9/30/96 BORROWER 92.1% 5/31/96
044 1 459,157 12/31/95 BORROWER 72,407 1/1/96 3/31/96 BORROWER 92.0% 5/24/96
045 1 334,449 10/31/95 BORROWER 130,850 3/29/96 6/30/96 BORROWER 91.4% 6/1/96
046 1 367,140 12/31/95 BORROWER 276,693 1/1/96 9/30/96 BORROWER 99.2% 9/30/96
047 1 587,289 12/31/95 BORROWER 587,289 1/1/95 12/31/95 BORROWER 81.7% 5/31/96
048 1 507,651 12/31/95 BORROWER 89,944 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
049 1 454,610 12/31/95 BORROWER 138,313 1/1/96 3/31/96 BORROWER 100.0% 5/1/96
050 1 460,710 12/31/95 BORROWER 283,560 1/1/96 9/30/96 BORROWER 95.7% 5/1/96
051 1 379,871 12/31/95 BORROWER 86,820 1/1/96 3/31/96 BORROWER 95.9% 5/1/96
051 2 158,626 12/31/95 BORROWER 91,660 1/1/96 3/31/96 BORROWER 100.0% 5/1/96
052 1 470,876 12/31/95 N/A 470,876 1/1/95 12/31/95 N/A 88.9% 3/26/96
053 1 753,275 12/31/95 N/A 154,366 1/1/96 6/30/96 N/A 64.9% 6/30/96
054 1 302,318 12/31/95 N/A 75,016 1/1/96 3/31/96 N/A 92.7% 4/1/96
055 1 280,211 12/31/95 BORROWER 81,286 1/1/96 3/31/96 BORROWER 100.0% 6/5/96
056 1 342,290 12/31/95 BORROWER 342,290 1/1/95 12/31/95 BORROWER 100.0% 6/24/96
057 1 326,300 12/31/95 BORROWER 326,300 1/1/95 12/31/95 BORROWER 81.1% 6/26/96
058 1 450,404 N/A UNDERWRITER 450,404 1/1/95 12/31/95 UNDERWRITER N/A N/A
059 1 319,224 12/31/94 BORROWER 226,762 5/1/95 12/31/95 BORROWER 100.0% 4/17/96
060 1 357,627 12/31/95 N/A 357,627 1/1/95 12/31/95 N/A 97.7% 2/29/96
061 1 274,183 12/31/95 BORROWER 201,891 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
062 1 362,819 12/31/95 N/A 249,689 1/1/96 9/30/96 N/A 54.2% 9/30/96
063 1 281,490 12/31/95 BORROWER 55,237 5/1/96 6/30/96 BORROWER 98.0% 7/21/96
064 1 338,666 12/31/95 N/A 247,514 1/1/96 9/30/96 BORROWER 91.9% 9/30/96
065 1 316,776 2/29/96 BORROWER 316,776 3/1/95 2/29/96 BORROWER 97.6% 6/3/96
066 1 263,249 12/31/95 N/A 62,080 1/1/96 3/31/96 N/A 92.5% 3/31/96
067 1 273,506 12/31/95 BORROWER 89,775 1/1/96 3/31/96 BORROWER 96.7% 6/28/96
</TABLE>
Page - 33
<PAGE>
<TABLE>
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
068 1 169,129 12/31/95 BORROWER 157,213 1/1/96 9/30/96 BORROWER 98.3% 9/30/96
069 1 239,609 12/31/95 BORROWER 239,609 1/1/95 12/31/95 BORROWER 94.3% 6/24/96
070 1 314,440 12/31/95 BORROWER 314,440 1/1/95 12/31/95 BORROWER 91.1% 3/22/96
071 1 249,645 12/31/95 N/A 184,724 1/1/96 9/30/96 BORROWER 92.9% 4/10/96
072 1 82,880 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 3/22/96
072 2 167,890 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 3/22/96
073 1 237,613 12/31/95 N/A 237,613 1/1/95 12/31/95 N/A 95.7% 4/17/96
074 1 136,749 12/31/95 BORROWER 39,265 1/1/96 3/31/96 BORROWER 92.4% 6/1/96
074 2 175,250 12/31/95 BORROWER 28,363 1/1/96 3/31/96 BORROWER 69.8% 6/1/96
075 1 288,468 12/31/95 BORROWER 208,233 1/1/96 9/30/96 BORROWER 98.7% 9/30/96
076 1 263,406 12/31/95 BORROWER 132,596 1/1/96 6/30/96 BORROWER 92.1% 6/30/96
077 1 310,549 12/31/95 N/A 220,086 1/1/96 9/30/96 BORROWER 99.2% 9/30/96
078 1 246,968 12/31/95 BORROWER 179,708 1/1/96 9/30/96 BORROWER 88.4% 5/1/96
079 1 210,633 12/31/95 BORROWER 210,633 1/1/95 12/31/95 BORROWER 81.2% 6/30/96
080 1 244,812 12/31/95 BORROWER 191,089 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
081 1 159,638 12/31/95 N/A 159,638 1/1/95 12/31/95 N/A 100.0% 12/1/95
081 2 119,453 12/31/95 N/A 119,453 1/1/95 12/31/95 N/A 97.1% 12/1/95
082 1 286,391 12/31/95 N/A 286,391 1/1/95 12/31/95 N/A 100.0% 5/16/96
083 1 241,556 12/31/95 N/A 65,715 1/1/96 3/31/96 N/A 91.7% 3/31/96
084 1 242,468 12/31/95 BORROWER 242,468 1/1/95 12/31/95 BORROWER 93.6% 4/25/96
085 1 248,441 12/31/95 BORROWER 139,294 1/1/96 9/30/96 BORROWER 91.0% 9/30/96
086 1 132,748 12/31/95 BORROWER 132,748 1/1/95 12/31/95 BORROWER 88.3% 6/9/96
086 2 128,537 12/31/95 BORROWER 128,537 1/1/95 12/31/95 BORROWER 89.6% 6/9/96
087 1 301,274 12/31/95 BORROWER 102,064 1/1/96 6/30/96 BORROWER 100.0% 8/19/96
088 1 203,321 12/31/95 N/A 203,321 1/1/95 12/31/95 N/A 100.0% 3/25/96
089 1 219,599 12/31/95 BORROWER 219,599 1/1/95 12/31/95 BORROWER 97.0% 4/26/96
090 1 339,692 12/31/95 BORROWER 339,692 1/1/95 12/31/95 BORROWER 92.2% 3/1/96
091 1 232,089 12/31/95 BORROWER 92,750 1/1/96 9/30/96 BORROWER 98.0% 9/30/96
092 1 231,555 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/20/95
093 1 230,540 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/19/95
094 1 206,802 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 3/25/96
095 1 169,679 12/31/94 N/A 114,231 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
096 1 190,889 12/31/95 N/A 190,889 1/1/95 12/31/95 N/A 89.5% 3/1/96
097 1 289,642 12/31/95 N/A 289,642 1/1/95 12/31/95 N/A 88.7% 3/1/96
098 1 215,023 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/25/95
099 1 129,704 12/31/94 BORROWER 45,751 7/1/96 9/30/96 BORROWER 83.6% 9/30/96
100 1 211,535 12/31/95 BORROWER 44,941 1/1/96 3/31/96 BORROWER 98.4% 5/28/96
101 1 239,295 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 3/25/96
102 1 202,396 12/31/95 BORROWER 53,251 1/1/96 3/31/96 BORROWER 100.0% 6/10/96
103 1 110,133 12/31/95 BORROWER 141,098 1/1/96 9/30/96 BORROWER 90.6% 9/30/96
104 1 188,265 12/31/95 N/A 53,212 1/1/96 3/31/96 N/A 90.8% 3/31/96
105 1 167,986 12/31/95 BORROWER 146,204 1/1/96 9/30/96 BORROWER 92.9% 9/30/96
106 1 150,418 12/31/95 BORROWER 56,231 1/1/96 3/31/96 BORROWER 98.7% 5/28/96
107 1 204,169 12/31/95 BORROWER 139,060 1/1/96 9/30/96 BORROWER 100.0% 6/25/96
108 1 204,354 12/31/95 BORROWER 204,354 1/1/95 12/31/95 BORROWER 100.0% 3/31/96
109 1 156,933 12/31/95 PROSPECTUS 85,831 1/1/96 9/30/96 BORROWER 78.4% 9/30/96
110 1 157,536 12/31/95 N/A 157,536 1/1/95 12/31/95 N/A 100.0% 6/21/96
111 1 204,225 12/31/95 BORROWER 204,225 1/1/95 12/31/95 BORROWER 100.0% 2/1/96
112 1 219,751 12/31/95 BORROWER 219,751 1/1/95 12/31/95 BORROWER 80.4% 4/1/96
113 1 152,812 9/1/96 PROSPECTUS 32,113 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
114 1 209,814 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 10/11/96
115 1 249,940 12/31/95 N/A 249,940 1/1/95 12/31/95 N/A 89.4% 3/31/96
116 1 153,194 12/31/95 BORROWER 153,194 1/1/95 12/31/95 BORROWER 91.0% 9/30/96
117 1 173,686 12/31/95 N/A 173,686 1/1/95 12/31/95 N/A 95.9% 3/31/96
118 1 137,625 12/31/95 BORROWER 116,847 1/1/96 9/30/96 BORROWER 91.5% 9/30/96
119 1 192,717 12/31/95 N/A 192,717 1/1/95 12/31/95 N/A 100.0% 5/16/96
120 1 164,429 12/31/95 BORROWER 44,283 1/1/96 3/31/96 BORROWER 96.7% 6/1/96
121 1 161,500 12/31/95 BORROWER 161,500 1/1/95 12/31/95 BORROWER 100.0% 1/1/96
122 1 184,620 12/31/95 BORROWER 138,412 1/1/96 9/30/96 BORROWER 90.6% 9/30/96
123 1 129,334 12/31/95 BORROWER 47,169 1/1/96 4/30/96 BORROWER 93.8% 5/25/96
124 1 189,016 12/31/95 N/A 189,016 1/1/95 12/31/95 N/A 94.6% 3/27/96
125 1 131,522 12/31/95 BORROWER 51,517 1/1/96 4/30/96 BORROWER 97.8% 5/23/96
126 1 149,867 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/25/95
127 1 101,067 12/31/94 N/A 101,067 1/1/94 12/31/94 N/A 98.2% 2/23/96
128 1 151,900 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/21/95
129 1 154,921 12/31/95 BORROWER 154,921 1/1/95 12/31/95 BORROWER 91.7% 4/29/96
130 1 145,625 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/18/95
131 1 144,842 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/18/95
132 1 143,907 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/18/95
133 1 202,219 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 3/25/96
134 1 126,469 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/17/95
135 1 123,261 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/17/95
136 1 122,540 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 8/18/95
137 1 100,815 9/1/96 PROSPECTUS N/A N/A N/A N/A 100.0% 2/21/96
</TABLE>
Page - 34
<PAGE>
<TABLE>
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
138 1 100,835 12/31/95 N/A 100,835 1/1/95 12/31/95 N/A 100.0% 3/28/96
139 1 105,086 12/31/95 N/A 105,086 1/1/95 12/31/95 N/A 93.8% 3/31/96
140 1 105,142 12/31/95 N/A 105,142 1/1/95 12/31/95 N/A 93.8% 3/31/96
141 1 95,038 12/31/95 BORROWER 95,038 1/1/95 12/31/95 BORROWER 88.3% 1/19/96
142 1 170,587 12/31/93 N/A 170,587 1/1/93 12/31/93 N/A 100.0% 6/17/96
143 1 79,540 12/31/94 N/A 79,540 1/1/94 12/31/94 N/A 97.8% 2/23/96
</TABLE>
Page - 35
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: NOVEMBER, 1996
DATE PRINTED: 26-NOV-96
LOAN 001 - 1:
LOAN 002 - 1:
LOAN 003 - 1:
LOAN 004 - 1:
LOAN 005 - 1:
LOAN 006 - 1:
LOAN 007 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
17% HIGHER THAN BASELINE PROJECTIONS. THE LARGEST VARIANCES ARE IN R&M, UP
BY 37% AND ADVERTISING AND MARKETING, UP BY 39%.LARGE CAPITAL EXPENDITURE
DUE TO MISCELANEOUS INTERIOR UPGRADES AND CARPET AND APPLIANCE REPLACEMENT.
LOAN 008 - 1:
LOAN 009 - 1:
LOAN 010 - 1:
LOAN 011 - 1:
LOAN 012 - 1:
LOAN 013 - 1:
LOAN 015 - 1:
LOAN 016 - 1:
LOAN 017 - 1:
LOAN 018 - 1:
LOAN 019 - 1:
LOAN 020 - 1:
LOAN 021 - 1:
LOAN 022 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS
DOWN BY 3% COMPARED TO THE BASELINE WHILE EXPENSES ARE UP BY 15% IN RELATION
TO THE BASELINE.
LOAN 023 - 1:
LOAN 024 - 1:
LOAN 025 - 1:
LOAN 026 - 1:
LOAN 027 - 1:
LOAN 028 - 1:
LOAN 029 - 1:
LOAN 030 - 1:
LOAN 031 - 1:
LOAN 032 - 1:
LOAN 033 - 1:
LOAN 034 - 1: Latest Annual Statement Comment: 12/31/95 - SIGNIFICANT
RENOVATIONS WERE COMPLETED IN 1995.
LOAN 034 - 2: Latest Annual Statement Comment: 12/31/95 - SIGNIFICANT
RENOVATIONS WERE COMPLETED IN 1995.
Page - 36
<PAGE>
LOAN 035 - 1:
LOAN 036 - 1:
LOAN 037 - 1:
LOAN 038 - 1:
LOAN 039 - 1:
LOAN 040 - 1:
LOAN 041 - 1:
LOAN 042 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 7% COMPARED TO THE BASELINE WHILE EXPENSES ARE DOWN BY 34% COMPARED TO
THE BASELINE.
LOAN 043 - 1:
LOAN 044 - 1:
LOAN 045 - 1:
LOAN 046 - 1:
LOAN 047 - 1:
LOAN 048 - 1:
LOAN 049 - 1:
LOAN 050 - 1:
LOAN 051 - 2:
LOAN 051 - 1:
LOAN 052 - 1:
LOAN 053 - 1:
LOAN 054 - 1:
LOAN 055 - 1:
LOAN 056 - 1:
LOAN 057 - 1:
LOAN 058 - 1:
LOAN 059 - 1: Partial Year Statement Comment: 12/31/95 - STATEMENT
REFLECTS 8 MONTHS OF OPERATION.
LOAN 060 - 1:
LOAN 061 - 1:
LOAN 062 - 1:
LOAN 063 - 1:
LOAN 064 - 1:
LOAN 065 - 1:
LOAN 066 - 1:
LOAN 067 - 1:
LOAN 068 - 1:
LOAN 069 - 1:
LOAN 070 - 1:
LOAN 071 - 1:
LOAN 072 - 2: Status Comment: Consistently delinquent, late charges are
accumulating.
LOAN 072 - 1: Status Comment: Consistently delinquent, late charges are
accumulating.
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<PAGE>
LOAN 073 - 1:
LOAN 074 - 1: Latest Annual Statement Comment: 12/31/95 - COMBINED
STATEMENT.
LOAN 074 - 2:
LOAN 075 - 1:
LOAN 076 - 1:
LOAN 077 - 1:
LOAN 078 - 1:
LOAN 079 - 1:
LOAN 080 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 12% COMPARED TO THE BASELINE PROJECTIONS. EXPENSES ARE UP BY 9% IN
RELATION TO BASELINE FIGURES.
LOAN 081 - 1:
LOAN 081 - 2:
LOAN 082 - 1:
LOAN 083 - 1:
LOAN 084 - 1:
LOAN 085 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
UP BY 32% COMPARED TO BASELINE FIGURES. BORROWER STATEMENT REPORTS $45,304
IN LEGAL AND CONSULTING FEES ASSOCIATED WITH REFINANCING.
LOAN 086 - 1:
LOAN 086 - 2:
LOAN 087 - 1: Partial Year Statement Comment: 6/30/96 - ONE TIME
FINANCE COST NORMALIZED TO ZERO.
LOAN 088 - 1:
LOAN 089 - 1:
LOAN 090 - 1:
LOAN 091 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
DOWN BY 1% IN RELATION TO THE BASELINE. EXPENSES ARE UP BY 21% COMPARED TO
BASELINE FIGURES. THE LARGEST VARIANCES ARE IN PROPERTY TAX, UP BY 103%,
AND INSURANCE, UP BY 59% COMPARED TO THE BASELINE.
LOAN 092 - 1:
LOAN 093 - 1:
LOAN 094 - 1:
LOAN 095 - 1:
LOAN 096 - 1:
LOAN 097 - 1:
LOAN 098 - 1:
LOAN 099 - 1:
LOAN 100 - 1:
LOAN 101 - 1:
LOAN 102 - 1:
LOAN 103 - 1: Latest Annual Statement Comment: 12/31/95 - PROPERTY DID
NOT ACHIEVE MAXIMUM OCCUPANCY UNTIL DECEMBER 1995 DUE TO RE-HAB.
LOAN 104 - 1:
LOAN 105 - 1:
LOAN 106 - 1:
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<PAGE>
LOAN 107 - 1:
LOAN 108 - 1:
LOAN 109 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
DOWN BY 11% COMPARED TO BASELINE FIGURES. EXPENSES ARE UP BY 3% IN RELATION
TO THE BASELINE.
LOAN 110 - 1:
LOAN 111 - 1:
LOAN 112 - 1:
LOAN 113 - 1:
LOAN 114 - 1:
LOAN 115 - 1:
LOAN 116 - 1:
LOAN 117 - 1:
LOAN 118 - 1: Latest Annual Statement Comment: 12/31/95 - BORROWER
REPORTED BAD DEBT EXPENSE OF $28,814 RESULTING IN A NEGATIVE AMOUNT IN OTHER
INCOME. Partial Year Statement Comment: 9/30/96 - REVENUE IS UP BY 7%
COMPARED TO BASELINE PROJECTIONS.
LOAN 119 - 1:
LOAN 120 - 1:
LOAN 121 - 1:
LOAN 122 - 1: Status Comment: Assumption in progress, subject to rating
agency approval. Partial Year Statement Comment: 9/30/96 - REVENUES
ARE UP BY 6% COMPARED TO BASELINE WHILE EXPENSES ARE DOWN BY 5% COMPARED TO
BASELINE FIGURES. BOTH REVENUE AND EXPENSE ARE IN LINE WITH PREVIOUS YEAR.
LOAN 123 - 1:
LOAN 124 - 1:
LOAN 125 - 1:
LOAN 126 - 1:
LOAN 127 - 1:
LOAN 128 - 1:
LOAN 129 - 1:
LOAN 130 - 1:
LOAN 131 - 1:
LOAN 132 - 1:
LOAN 133 - 1:
LOAN 134 - 1:
LOAN 135 - 1:
LOAN 136 - 1:
LOAN 137 - 1:
LOAN 138 - 1:
LOAN 139 - 1:
LOAN 140 - 1:
LOAN 141 - 1:
LOAN 142 - 1:
LOAN 143 - 1:
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