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) February 25, 1997
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 February 25, 1997, 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
February 25, 1997.
Loan data file as of the February 1997 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: February 25, 1997
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Statement to the Certificateholders 3
dated as of February 25, 1997
Loan data file as of February 1997 22
Page - 2
ABN AMRO Payment Date: 02/25/97
LaSalle National Bank Prior Payment: 01/27/97
Administrator: Record Date: 01/31/97
Barb Marik (800) 246-5761
135 S. LaSalle Street Suite 1740 WAC: 9.065230%
Chicago, IL 60603 WAMM: 114
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 88,380,680.87 384,748.61
597706AA8 1000.000000000 982.651748035 4.277788884
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 317,315,000.00 315,754,680.87 0.00
597706AJ9 1000.000000000 995.082743867 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
- ------------------- ---------------- ---------------- ----------------
371,143,879.82 369,583,560.69 384,748.61
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
REMIC III, Continued
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 0.00 0.00 87,995,932.26
597706AA8 0.000000000 0.000000000 978.373959151
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 0.00 315,369,932.26
597706AJ9 0.000000000 0.000000000 993.870230717
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 0.00 369,198,812.08
================ ================ ================
Total P&I Payment 3,130,286.80
============
Page - 4
<PAGE>
<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-1 538,753.90 0.00 7.31500000%
597706AA8 5.990081276 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 355,407.98 0.00 1.35069913%
597706AJ9 1.120047839 0.000000000 1.21426092%
B 132,089.17 0.00 7.76348150%
597706AD2 6.469568007 0.000000000 7.74827282%
C 169,519.24 0.00 7.82848150%
597706AE0 6.523734462 0.000000000 7.81327282%
D 99,400.94 0.00 8.03348150%
597706AF7 6.694567619 0.000000000 8.01827282%
E 38,110.55 0.00 8.21348150%
597706AG5 6.844567170 0.000000000 8.19827282%
F 55,150.93 0.00 8.91448150%
597706AH3 7.428735183 0.000000000 8.89927282%
G 137,884.74 0.00 8.91448150%
597706AK6 7.428734443 0.000000000 8.89927282%
H 41,363.19 0.00 8.91448150%
597706AL4 7.428733836 0.000000000 8.89927282%
J 82,726.39 0.00 8.91448150%
597706AM2 7.428734734 0.000000000 8.89927282%
K-1 0.00 0.00 None
597706AN0 0.000000000 0.000000000
K-2 82,755.21 0.00 8.91448150%
597706AP5 7.428734541 0.000000000 8.89927282%
R-III 0.00 0.00
597706AS9 0.000000000 0.000000000
- ------------------- ---------------- ---------------- ----------------
2,745,538.19 0.00 --
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
(3) Estimated
</FN>
</TABLE>
Page - 5
<PAGE>
<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 88,380,680.87 384,748.61
None 1000.000000000 982.651748035 4.277788884
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
- ------------------- ---------------- ---------------- ----------------
371,143,879.82 369,583,560.69 384,748.61
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
Page - 6
<PAGE>
REMIC II, Continued
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 87,995,932.26
None 0.000000000 0.000000000 978.373959151
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 0.00 369,198,812.08
================ ================ ================
Total P&I Payment 3,130,286.79
============
Page - 7
<PAGE>
<TABLE>
REMIC II, Continued
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
A-L-1 656,556.62 0.00 8.91448150%
None 7.299859019 0.000000000 8.89927282%
A-L-2 510,443.21 0.00 8.91448150%
None 7.428734573 0.000000000 8.89927282%
A-L-3 682,284.70 0.00 8.91448150%
None 7.428734593 0.000000000 8.89927282%
B-L 151,672.48 0.00 7.76348150%
None 14.560092157 0.000000000 7.74827282%
C-L 193,035.67 0.00 7.82848150%
None 7.428734655 0.000000000 7.81327282%
D-L 110,301.85 0.00 8.03348150%
None 7.428734510 0.000000000 8.01827282%
E-L 41,363.19 0.00 8.21348150%
None 7.428733836 0.000000000 8.19827282%
F-L 55,150.93 0.00 8.91448150%
None 7.428735183 0.000000000 8.89927282%
G-L 137,884.74 0.00 8.91448150%
None 7.428734443 0.000000000 8.89927282%
H-L 41,363.19 0.00 8.91448150%
None 7.428733836 0.000000000 8.89927282%
J-L 82,726.39 0.00 8.91448150%
None 7.428734734 0.000000000 8.89927282%
K-L 82,755.21 0.00 8.91448150%
None 7.428734541 0.000000000 8.89927282%
R-II 0.00 0.00 None
597706AR1 0.000000000 0.000000000
- ------------------- ---------------- ---------------- ----------------
2,745,538.18 0.00 --
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
(3) Estimated
</FN>
</TABLE>
Page - 8
<PAGE>
<TABLE>
REMIC I
<CAPTION>
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C>
REMIC I Reg Inte 371,143,880.00 369,583,560.87 384,748.61
None 1000.000000000 995.795918472 1.036656215
R-I 0.00 0.00 0.00
597706AQ3 1000.000000000 0.000000000 0.000000000
- ------------------- ---------------- ---------------- ----------------
371,143,880.00 369,583,560.87 384,748.61
================ ================ ================
<FN>
(1) N denotes notional balance not included in total
</FN>
</TABLE>
REMIC I, Continued
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 0.00 369,198,812.26
None 0.000000000 0.000000000 994.759262257
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 3,130,286.79
============
<TABLE>
REMIC I, Continued
<CAPTION>
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
<S> <C> <C> <C>
REMIC I Reg Inte 2,745,538.18 0.00 8.91448150%
None 7.397503577 0.000000000 8.89927282%
R-I 0.00 0.00 None
597706AQ3 0.000000000 0.000000000
- ------------------- ---------------- ---------------- ----------------
369,198,812.26 2,745,538.18 --
================ ================ ================
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred Interest equals
Accrual
(3) Estimated
</FN>
</TABLE>
Page - 9
<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 384,748.61
Pooled Available Funds 3,176,715.43
Amount Allocated to Principal 2,745,538.20
Amount Allocated to Interest 384,748.61
P&I Advances included in Current Amount Distriubted: 39,986.19
Servicer 39,986.19
Trustee 0.00
Fiscal Agent 0.00
Current Realized Losses 0.00
Cummulative Realized Losses 0.00
SUMMARY OF REO PROPERTIES:
Aggregate
Date of Other
Date of Principal Final Amount of Revenues
Property Name REO Balance Book Value Recovery Proceeds Collected
AMOUNTS PAID TO SERVICER IN CURRENT COLLECTION PERIOD
Servicing Compensation 45,835.14
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 - 10
<PAGE>
<TABLE>
<CAPTION>
Distribution Delinq 1 Month Delinq 2 Months Delinq 3+ Months
Date # Balance # Balance # Balance
<S> <C> <C> <C> <C> <C> <C>
02/25/97 0 0 0 0 0 0
\ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/27/97 0 0 0 0 0 0
\ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
12/26/96 0 0 0 0 0 0
\ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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>
<CAPTION>
Foreclosure/
Distribution Bankruptcy (1) REO (1) Modifications
Date # Balance # Balance # Balance
<S> <C> <C> <C> <C> <C> <C>
02/25/97 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/27/97 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
12/26/96 0 0 0 0 0 0
/ 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
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
02/25/97 0 0 9.0652% 8.9145%
/ 0.00% 0.000%
01/27/97 0 0 9.0654% 8.9146%
/ 0.00% 0.000%
12/26/96 0 0 9.0603% 8.9095%
/ 0.00% 0.000%
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>
96 01/01/97 10,328.04 10,328.04 0.00
69 01/01/97 15,064.29 15,064.29 0.00
72 01/01/97 14,593.85 14,593.85 0.00
- --- -------- ---------- --------- -------
Total -- 39,986.18 39,986.18 0.00
======== ========== ========= =======
<FN>
(1) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
Page - 11
<PAGE>
<TABLE>
DELINQUENT LOAN DETAIL, Continued
<CAPTION>
Special
Disclosure Servicer
Doc Advance Transfer Foreclosure Bankruptcy REO
Control # Description (1) Date Date Date Date
<S> <C> <C> <C> <C> <C>
96 B -- -- -- --
69 B -- -- -- --
72 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 24,658,216 6.68%
$1,000,000 to $1,249,999 ...... 15 16,970,814 4.60%
$1,250,000 to $1,499,999 ...... 20 27,788,299 7.53%
$1,500,000 to $1,999,999 ...... 14 23,976,223 6.49%
$2,000,000 to $2,499,999 ...... 14 31,347,029 8.49%
$2,500,000 to $2,999,999 ...... 8 21,270,323 5.76%
$3,000,000 to $3,499,999 ...... 10 33,045,615 8.95%
$3,500,000 to $3,999,999 ...... 8 29,958,305 8.11%
$4,000,000 to $4,499,999 ...... 4 17,021,878 4.61%
$4,500,000 to $4,999,999 ...... 2 9,803,186 2.66%
$5,000,000 to $5,499,999 ...... 6 31,771,662 8.61%
$5,500,000 to $5,999,999 ...... 1 5,718,267 1.55%
$6,500,000 to $6,999,999 ...... 4 27,310,722 7.40%
$7,000,000 to $7,499,999 ...... 2 14,470,772 3.92%
$8,000,000 to $8,499,999 ...... 2 16,662,937 4.51%
$9,000,000 to $9,499,999 ...... 1 9,350,974 2.53%
$10,000,000 to $10,499,999 .... 1 10,356,374 2.81%
$17,500,000 & Above ........... 1 17,717,215 4.80%
- ------------------------------- --- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
Average Scheduled Balance is 2,581,810
Maximum Scheduled Balance is 17,717,215
Minimum Scheduled Balance is 515,709
DISTRIBUTION OF PROPERTY TYPES
Property Number Scheduled Based on
Types of Loans Balance Balance
MF- Housing ................... 64 156,237,740 42.32%
Retail-Anchored ............... 12 47,108,335 12.76%
Office ........................ 13 40,304,590 10.92%
Retail-Single Te .............. 17 28,416,566 7.70%
Retail Facility ............... 11 20,106,623 5.45%
Mobile Home Park .............. 5 17,601,304 4.77%
Hospitality ................... 4 16,999,767 4.60%
Congregate Care ............... 5 15,099,789 4.09%
Industrial .................... 6 12,329,214 3.34%
Office\MF\Retail .............. 2 7,499,467 2.03%
Nursing Home .................. 1 3,955,556 1.07%
Other ......................... 3 3,539,860 0.96%
--- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
Page - 12
<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 6,746,868 1.83%
7.750% to 7.875% .............. 0 0 0.00%
7.875% to 8.000% .............. 1 1,141,153 0.31%
8.000% to 8.125% .............. 5 11,846,497 3.21%
8.125% to 8.250% .............. 6 23,030,152 6.24%
8.250% to 8.375% .............. 0 0 0.00%
8.375% to 8.500% .............. 5 15,491,378 4.20%
8.500% to 8.625% .............. 8 22,252,196 6.03%
8.625% to 8.750% .............. 19 36,868,769 9.99%
8.750% to 9.000% .............. 19 65,919,725 17.85%
9.000% to 9.125% .............. 7 14,086,443 3.82%
9.125% to 9.500% .............. 44 111,269,421 30.14%
9.500% & Above ................ 28 60,546,209 16.40%
- ------------------------------- --- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
W/Avg Mortgage Interest Rate is 9.0608%
Minimum Mortgage Interest Rate is 7.6400%
GEOGRAPHIC DISTRIBUTION
Geographic Number Scheduled Based on
Location of Loans Balance Balance
Texas ......................... 23 42,628,510 11.55%
California .................... 12 42,389,417 11.48%
Illinois ...................... 9 29,655,849 8.03%
New York ...................... 9 26,558,723 7.19%
Ohio .......................... 9 26,548,962 7.19%
Nevada ........................ 3 24,614,453 6.67%
Oklahoma ...................... 8 16,026,101 4.34%
Puerto Rico ................... 2 15,532,969 4.21%
Florida ....................... 7 13,545,330 3.67%
Arizona ....................... 6 13,493,583 3.65%
Massachusetts ................. 2 11,400,461 3.09%
Indiana ....................... 3 11,157,663 3.02%
Missouri ...................... 6 11,117,812 3.01%
Pennsylvania .................. 6 10,905,218 2.95%
Virginia ...................... 4 8,531,437 2.31%
Michigan ...................... 5 8,225,476 2.23%
Georgia ....................... 5 7,737,317 2.10%
New Jersey .................... 4 6,997,299 1.90%
Colorado ...................... 4 6,991,363 1.89%
New Mexico .................... 3 5,770,904 1.56%
District of Colu .............. 1 5,233,317 1.42%
Delaware ...................... 1 4,936,854 1.34%
Kansas ........................ 1 4,299,998 1.16%
Louisiana ..................... 1 3,159,425 0.86%
Wyoming ....................... 1 2,281,460 0.62%
Idaho ......................... 1 2,024,964 0.55%
Tennessee ..................... 2 1,834,570 0.50%
Montana ....................... 1 1,793,329 0.49%
Maryland ...................... 2 1,686,049 0.46%
Arkansas ...................... 1 1,263,195 0.34%
Other ......................... 1 856,805 0.23%
--- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
Page - 13
<PAGE>
LOAN SEASONING
Number Scheduled Based on
Number of Years of Loans Balance Balance
1 year or less ................ 118 309,510,700 83.83%
1+ to 2 years ................. 10 37,381,445 10.13%
2+ to 3 years ................. 12 18,672,512 5.06%
3+ to 4 years ................. 2 1,375,223 0.37%
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 2,258,930 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 ......................... 143 369,198,811 100.00%
=== ============ ======
Weighted Average Seasoning is 0.8
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 18,376,865 4.98%
1.001 to 1.125 ................ 5 13,022,596 3.53%
1.126 to 1.25 ................. 5 19,745,816 5.35%
1.251 to 1.375 ................ 19 73,409,747 19.88%
1.376 to 1.5 .................. 30 78,832,967 21.35%
1.501 to 1.625 ................ 28 53,779,979 14.57%
1.626 to 1.75 ................. 17 38,330,739 10.38%
1.751 to 1.875 ................ 10 15,042,390 4.07%
1.876 to 2 .................... 8 14,891,427 4.03%
2.001 to 2.125 ................ 0 0 0.00%
2.126 to 2.25 ................. 3 3,377,608 0.91%
2.251 to 2.375 ................ 3 6,181,516 1.67%
2.376 to 2.5 .................. 1 2,483,122 0.67%
2.501 to 2.625 ................ 3 9,696,611 2.63%
2.626 & above ................. 5 22,027,428 5.97%
Unknown ....................... 0 0 0.00%
--- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
<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 1.624
Page - 14
<PAGE>
DISTRIBUTION OF AMORTIZATION TYPE
Number Scheduled Based on
Amortization Type of of Loans Balance Balance
Amortizing Balloon ............ 143 369,198,811 100.00%
--- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
DISTRIBUTION OF REMAINING TERM
BALLOON LOANS
Balloon Number Scheduled Based on
Mortgage Loans of Loans Balance Balance
12 months or les .............. 0 0 0.00%
13 to 24 months ............... 0 0 0.00%
25 to 36 months ............... 1 2,258,930 0.61%
37 to 48 months ............... 2 1,898,564 0.51%
49 to 60 months ............... 9 27,535,695 7.46%
61 to 120 months .............. 74 216,078,842 58.53%
121 to 180 month .............. 54 117,892,251 31.93%
181 to 240 month .............. 3 3,534,529 0.96%
- ------------------------------- --- ------------ ------
143 369,198,811 100.00%
=== ============ ======
Weighted Average Months to Maturity is 114
NOI AGING
Number Scheduled Based on
NOI Date of Loans Balance Balance
1 year or less ................ 23 56,504,683 15.30%
1 to 2 years .................. 114 306,039,029 82.89%
2 Years or More ............... 6 6,655,099 1.80%
Unknown ....................... 0 0 0.00%
--- ------------ ------
Total ......................... 143 369,198,811 100.00%
=== ============ ======
Page - 15
<PAGE>
<TABLE>
LOAN LEVEL DETAIL
<CAPTION>
Beginning Property Operating
Disclosure Principal Type Maturity Statement
Control # Balance Code Date DSCR NOI Date
<S> <C> <C> <C> <C> <C> <C>
143 517,805 MF- Housing 04/15/08 1.049 79,540 12/31/94
142 554,434 MF- Housing 09/01/09 2.217 170,587 12/31/93
141 560,386 Warehouse 06/01/06 1.489 95,038 12/31/95
140 605,679 MF- Housing 05/01/01 1.637 105,142 12/31/95
139 654,134 MF- Housing 05/01/01 1.515 105,086 12/31/95
138 662,662 MF- Housing 05/01/01 1.497 100,835 12/31/95
137 710,691 Industrial 04/01/08 1.365 100,815 09/01/96
136 717,074 Retail-Single Tena 02/01/06 1.589 122,540 09/01/96
135 721,291 Retail-Single Tena 02/01/06 1.589 123,261 09/01/96
134 740,065 Retail-Single Tena 02/01/06 1.589 126,469 09/01/96
133 840,726 Retail-Single Tena 04/01/11 2.313 202,219 09/01/96
132 842,108 Retail-Single Tena 02/01/06 1.589 143,907 09/01/96
131 847,584 Retail-Single Tena 02/01/06 1.589 144,842 09/01/96
130 852,157 Retail-Single Tena 02/01/06 1.589 145,625 09/01/96
129 857,537 Retail Facility 06/01/06 1.696 154,921 12/31/95
127 863,007 MF- Housing 04/15/08 0.800 101,067 12/31/94
128 868,122 Retail-Single Tena 02/01/06 1.627 151,900 09/01/96
126 876,989 Retail-Single Tena 02/01/06 1.589 149,867 09/01/96
125 913,205 MF- Housing 05/01/11 1.425 131,522 12/31/95
124 913,225 MF- Housing 01/01/01 1.828 189,016 12/31/95
123 923,131 MF- Housing 05/01/11 1.387 129,334 12/31/95
122 925,998 MF- Housing 07/01/06 1.955 184,620 12/31/95
121 928,035 Industrial 07/01/08 1.534 161,500 12/31/95
120 941,105 Retail Facility 03/01/08 1.731 164,429 12/31/95
119 956,524 MF- Housing 07/01/12 1.648 192,717 12/31/95
118 963,361 Retail Facility 01/01/08 1.451 137,625 12/31/95
117 969,678 MF- Housing 05/01/01 1.673 173,686 12/31/95
116 985,104 Retail-Anchored 07/01/06 1.465 153,194 12/31/95
115 988,013 MF- Housing 02/01/01 2.563 249,940 12/31/95
114 995,249 Office 07/01/08 1.950 209,814 09/01/96
113 1,039,862 Retail Facility 03/01/08 1.479 152,812 09/01/96
112 1,043,826 Office 06/01/08 1.996 219,751 12/31/95
111 1,044,953 Office 07/01/08 1.817 204,225 12/31/95
109 1,093,706 Mobile Home Park 09/01/11 1.280 156,933 12/31/95
110 1,097,205 MF- Housing 08/01/06 1.429 157,536 12/31/95
108 1,099,715 Office 07/01/08 1.724 204,354 12/31/95
106 1,125,398 MF- Housing 03/01/06 1.291 150,418 12/31/95
105 1,127,322 MF- Housing 05/01/12 1.256 167,986 12/31/95
107 1,127,443 Office 07/01/06 1.700 204,169 12/31/95
104 1,141,984 MF- Housing 03/01/03 1.866 188,265 12/31/95
103 1,174,647 MF- Housing 06/01/10 0.723 110,133 12/31/95
102 1,185,398 Retail Facility 01/01/06 1.751 202,396 12/31/95
101 1,217,187 Retail-Single Tena 04/01/11 1.890 239,295 09/01/96
100 1,234,221 MF- Housing 01/01/11 1.792 211,535 12/31/95
99 1,239,630 Retail Facility 06/01/11 1.003 129,704 12/31/94
98 1,258,264 Retail-Single Tena 02/01/06 1.589 215,023 09/01/96
<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 - 16
<PAGE>
<TABLE>
LOAN LEVEL DETAIL, Continued
<CAPTION>
Beginning Property Operating
Disclosure Principal Type Maturity Statement
Control # Balance Code Date DSCR NOI Date
<S> <C> <C> <C> <C> <C> <C>
97 1,264,743 MF- Housing 04/01/01 2.241 289,642 12/31/95
96 1,284,105 MF- Housing 12/31/05 1.529 190,889 12/31/95
95 1,305,636 MF- Housing 09/01/02 1.392 169,679 12/31/94
94 1,326,966 Retail-Single Tena 04/01/11 1.499 206,802 09/01/96
93 1,349,066 Retail-Single Tena 02/01/06 1.589 230,540 09/01/96
92 1,355,000 Retail-Single Tena 02/01/06 1.589 231,555 09/01/96
91 1,370,872 MF- Housing 07/01/08 1.630 232,089 12/31/95
90 1,387,175 Office 07/01/06 2.297 339,692 12/31/95
89 1,403,159 MF- Housing 06/01/08 1.529 219,599 12/31/95
88 1,412,998 Retail-Anchored 03/31/06 1.430 203,321 12/31/95
87 1,415,967 Indust./Whs/Office 04/01/06 1.894 301,274 12/31/95
86 1,423,070 MF- Housing 04/01/08 1.813 261,285 12/31/95
85 1,442,889 Retail Facility 07/01/08 1.616 248,441 12/31/95
84 1,444,759 MF- Housing 05/01/06 1.524 242,468 12/31/95
82 1,459,439 MF- Housing 07/01/12 1.605 286,391 12/31/95
83 1,468,998 MF- Housing 01/01/03 1.843 241,556 12/31/95
81 1,472,420 MF- Housing 01/01/02 1.642 279,091 12/31/95
80 1,482,119 Mobile Home Park 05/01/08 1.485 244,812 12/31/95
79 1,494,056 Retail Facility 08/01/06 1.308 210,633 12/31/95
78 1,540,672 Industrial 06/01/03 1.537 246,968 12/31/95
77 1,562,807 MF- Housing 09/01/02 2.128 310,549 12/31/95
76 1,569,221 Warehouse 01/01/11 1.549 263,406 12/31/95
75 1,584,131 MF- Housing 06/01/11 1.598 288,468 12/31/95
74 1,651,515 Office 04/01/08 1.841 311,999 12/31/95
73 1,674,115 Retail-Anchored 05/31/06 1.408 237,613 12/31/95
72 1,704,798 Industrial 04/01/08 1.408 250,770 09/01/96
71 1,784,260 MF- Housing 12/01/05 1.547 249,645 12/31/95
70 1,788,767 MF- Housing 06/01/11 1.715 314,440 12/31/95
69 1,790,471 MF- Housing 07/01/06 1.303 239,609 12/31/95
68 1,794,304 MF- Housing 07/01/11 0.951 169,129 12/31/95
67 1,805,264 MF- Housing 07/01/08 1.484 273,506 12/31/95
66 1,857,964 MF- Housing 06/01/03 1.488 263,249 12/31/95
65 1,890,123 MF- Housing 07/01/11 1.617 316,776 02/29/96
64 2,025,138 MF- Housing 05/01/01 1.662 338,666 12/31/95
63 2,026,714 Retail-Anchored 06/01/06 1.311 281,490 12/31/95
62 2,035,298 Retail-Anchored 05/01/03 1.739 362,819 12/31/95
61 2,077,352 MF- Housing 03/01/06 1.406 274,183 12/31/95
60 2,172,382 MF- Housing 12/01/01 1.560 357,627 12/31/95
59 2,186,360 MF- Housing 06/01/11 1.420 319,224 12/31/94
58 2,264,793 Office 04/14/99 1.368 450,404 12/31/95
57 2,283,440 Mobile Home Park 07/01/08 1.358 326,300 12/31/95
56 2,287,984 MF- Housing 07/01/06 1.447 342,290 12/31/95
55 2,311,827 Retail-Single Tena 04/01/08 1.119 280,211 12/31/95
54 2,378,509 MF- Housing 10/31/05 1.370 302,318 12/31/95
53 2,386,900 Hospitality 09/01/06 2.744 753,275 12/31/95
52 2,457,990 MF- Housing 05/01/04 1.819 470,876 12/31/95
51 2,484,862 Congregate Care 04/01/06 2.419 538,497 12/31/95
50 2,509,666 MF- Housing 07/01/11 1.464 460,710 12/31/95
48 2,536,800 MF- Housing 07/01/08 1.826 507,651 12/31/95
49 2,544,498 Congregate Care 04/01/06 1.994 454,610 12/31/95
47 2,577,649 Hospitality 07/01/11 4.476 1,301,875 12/31/95
46 2,585,984 Industrial 07/01/08 1.394 367,140 12/31/95
45 2,775,162 Congregate Care 04/01/06 1.229 334,449 10/31/95
44 2,820,384 MF- Housing 07/01/06 1.565 459,157 12/31/95
43 2,952,548 MF- Housing 07/01/11 1.354 501,465 12/31/95
42 3,069,254 MF- Housing 06/01/11 1.542 539,086 12/31/95
41 3,162,430 MF- Housing 07/01/06 1.420 451,656 12/31/95
40 3,264,232 MF- Housing 04/01/06 1.313 404,060 12/31/95
39 3,280,018 Congregate Care 04/01/06 1.942 570,607 12/31/95
38 3,294,851 Office 06/01/11 2.526 864,097 12/31/95
37 3,300,536 Retail Facility 03/01/11 0.371 146,547 12/31/95
36 3,361,966 Retail Facility 02/01/06 1.425 464,964 12/31/95
35 3,398,868 Mobile Home Park 07/01/03 1.253 416,481 12/31/95
34 3,469,052 MF- Housing 04/01/06 1.731 589,837 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>
Beginning Property Operating
Disclosure Principal Type Maturity Statement
Control # Balance Code Date DSCR NOI Date
<S> <C> <C> <C> <C> <C> <C>
33 3,481,776 MF- Housing 07/01/11 1.982 714,772 12/31/95
32 3,527,068 Retail-Anchored 05/31/06 1.203 427,764 12/31/95
31 3,601,660 MF- Housing 06/01/06 1.428 519,264 12/31/95
30 3,605,200 MF- Housing 07/01/06 1.354 493,878 12/31/95
29 3,632,571 Office\MF\Retail 07/01/06 1.609 630,549 12/31/95
28 3,865,626 Office 04/01/08 1.246 473,834 12/31/95
27 3,873,336 Office\MF\Retail 05/01/06 1.196 486,085 12/31/95
26 3,921,406 MF- Housing 07/01/06 1.392 564,447 02/29/96
25 3,958,044 Nursing Home 10/01/05 2.303 975,953 12/31/95
24 4,028,049 Congregate Care 05/01/06 1.043 411,237 12/31/95
23 4,302,946 MF- Housing 08/01/05 1.404 565,464 12/31/95
22 4,306,888 Retail Facility 08/01/08 0.920 415,979 12/31/95
21 4,398,467 Retail-Anchored 07/01/06 1.466 688,928 12/31/95
20 4,870,656 Industrial 06/01/06 1.740 886,178 12/31/95
19 4,940,973 Retail-Anchored 07/01/06 1.038 549,623 12/31/95
18 5,032,452 Retail-Single Tena 10/01/10 3.468 1,837,997 12/31/95
17 5,225,058 MF- Housing 05/01/03 1.335 659,803 12/31/95
16 5,238,092 Office 05/01/06 1.507 819,088 12/31/95
15 5,402,779 Hospitality 02/01/11 3.968 2,311,037 12/31/95
14 5,417,432 Retail-Anchored 04/01/08 2.503 774,124 09/01/96
13 5,481,096 MF- Housing 07/01/03 1.722 903,048 12/31/95
12 5,723,489 Retail-Anchored 07/01/08 1.238 727,590 12/31/95
11 6,660,163 Hospitality 12/01/10 3.069 2,240,626 12/31/95
10 6,755,107 Retail-Anchored 12/31/02 1.292 794,247 12/31/95
9 6,961,828 MF- Housing 07/01/06 1.372 966,841 12/31/95
8 6,965,611 Office 07/01/11 1.000 741,510 09/01/96
7 7,186,604 MF- Housing 12/01/05 1.400 910,155 12/31/95
6 7,298,163 Retail-Single Tena 01/01/06 1.328 965,274 09/01/96
5 8,252,225 Retail-Anchored 01/01/06 1.474 1,209,636 09/01/96
4 8,425,274 MF- Housing 11/30/02 1.704 1,295,267 12/31/95
3 9,359,303 Mobile Home Park 08/01/03 1.454 1,407,000 12/31/95
2 10,365,237 Office 09/01/03 1.556 1,691,446 06/30/96
1 17,727,842 MF- Housing 07/01/01 1.342 2,260,558 12/31/95
- --- ----------- ------------------ ---------- ------ ----------- ----------
369,583,560 -- -- -- 61,233,253 --
=========== ================== ========== ====== =========== ==========
<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 Prepmt
Control # Balance Rate P&I Prepayment Date
143 515,709 9.600% 6,318 -- --
142 552,683 9.900% 6,412 -- --
141 559,559 9.620% 5,320 -- --
140 604,996 9.250% 5,352 -- --
139 653,395 9.250% 5,781 -- --
138 662,225 9.375% 5,614 -- --
137 710,078 9.360% 6,156 -- --
136 715,845 8.700% 6,428 -- --
135 720,055 8.700% 6,466 -- --
134 738,796 8.700% 6,634 -- --
133 839,955 9.300% 7,286 -- --
132 840,664 8.700% 7,549 -- --
131 846,131 8.700% 7,598 -- --
130 850,696 8.700% 7,639 -- --
129 856,805 9.630% 7,614 -- --
127 859,515 9.600% 10,529 -- --
128 866,634 8.700% 7,782 -- --
126 875,486 8.700% 7,862 -- --
125 912,327 8.950% 7,689 -- --
124 911,268 8.750% 8,616 -- --
123 922,243 8.950% 7,773 -- --
122 925,142 9.090% 7,870 -- --
121 926,670 9.580% 8,774 -- --
120 940,179 8.910% 7,914 -- --
119 954,217 9.330% 9,744 -- --
118 962,346 8.580% 7,904 -- --
117 968,603 9.375% 8,650 -- --
116 984,265 9.590% 8,712 -- --
115 987,296 9.000% 8,127 -- --
114 994,434 9.830% 8,967 -- --
113 1,038,807 8.720% 8,611 -- --
112 1,042,916 9.500% 9,174 -- --
111 1,044,087 9.760% 9,364 -- --
109 1,092,101 9.450% 10,218 -- --
110 1,096,633 9.420% 9,185 -- --
108 1,098,809 9.790% 9,878 -- --
106 1,123,364 8.180% 9,706 -- --
105 1,124,393 8.750% 11,149 -- --
107 1,126,491 9.640% 10,009 -- --
104 1,141,153 7.960% 8,406 -- --
103 1,170,914 9.160% 12,700 -- --
102 1,184,124 8.460% 9,630 -- --
101 1,216,071 9.300% 10,549 -- --
100 1,232,847 8.230% 9,839 -- --
99 1,238,104 8.950% 10,772 -- --
98 1,256,107 8.700% 11,279 -- --
97 1,263,195 8.750% 10,770 -- --
96 1,282,719 8.430% 10,407 -- --
95 1,304,736 8.510% 10,159 -- --
94 1,325,749 9.300% 11,500 -- --
93 1,346,753 8.700% 12,093 -- --
92 1,352,677 8.700% 12,147 -- --
91 1,369,652 9.320% 11,868 -- --
90 1,386,005 9.650% 12,325 -- --
89 1,401,857 9.120% 11,966 -- --
88 1,411,614 8.890% 11,851 -- --
87 1,413,769 9.370% 13,254 -- --
86 1,421,695 8.970% 12,013 -- --
85 1,441,670 9.640% 12,810 -- --
84 1,442,465 9.110% 13,262 -- --
82 1,455,919 9.330% 14,868 -- --
83 1,467,932 8.050% 10,921 -- --
81 1,471,141 10.500% 14,163 -- --
80 1,479,806 9.250% 13,738 -- --
79 1,492,838 9.800% 13,420 -- --
78 1,539,297 9.360% 13,392 -- --
77 1,561,730 8.510% 12,160 -- --
76 1,566,532 8.780% 14,170 -- --
75 1,581,791 9.620% 15,040 -- --
74 1,649,960 9.130% 14,121 -- --
73 1,672,514 8.930% 14,060 -- --
72 1,703,251 9.360% 14,845 -- --
Page - 19
<PAGE>
LOAN LEVEL DETAIL, Continued
Ending
Disclosure Principal Note Scheduled Prepmt
Control # Balance Rate P&I Prepayment Date
71 1,782,991 8.190% 13,447 -- --
70 1,787,113 9.140% 15,278 -- --
69 1,788,840 9.180% 15,328 -- --
68 1,793,329 9.260% 14,821 -- --
67 1,803,598 9.100% 15,356 -- --
66 1,856,845 8.800% 14,743 -- --
65 1,888,432 9.290% 16,324 -- --
64 2,023,770 9.250% 16,978 -- --
63 2,024,964 9.560% 17,896 -- --
62 2,033,397 9.130% 17,386 -- --
61 2,075,004 8.030% 16,250 -- --
60 2,171,155 9.875% 19,104 -- --
59 2,184,352 9.180% 18,734 -- --
58 2,258,930 11.426% 27,427 -- --
57 2,281,460 9.480% 20,019 -- --
56 2,285,927 9.260% 19,713 -- --
55 2,308,004 8.850% 20,873 -- --
54 2,376,892 8.460% 18,386 -- --
53 2,383,558 9.820% 22,875 -- --
52 2,456,493 9.800% 21,571 -- --
51 2,483,122 8.120% 18,554 -- --
50 2,502,761 9.240% 26,229 -- --
48 2,532,830 9.080% 23,165 -- --
49 2,542,717 8.120% 18,999 -- --
47 2,573,820 9.500% 24,235 -- --
46 2,583,586 9.070% 21,944 -- --
45 2,772,302 8.570% 22,679 -- --
44 2,817,882 9.340% 24,455 -- --
43 2,944,425 9.240% 30,858 -- --
42 3,064,720 9.620% 29,139 -- --
41 3,159,425 8.920% 26,512 -- --
40 3,262,186 8.675% 25,644 -- --
39 3,277,722 8.120% 24,491 -- --
38 3,291,882 9.300% 28,504 -- --
37 3,290,211 8.210% 32,906 -- --
36 3,358,362 8.420% 27,195 -- --
35 3,396,964 9.110% 27,708 -- --
34 3,465,489 8.590% 28,396 -- --
33 3,478,656 9.280% 30,046 -- --
32 3,523,694 8.930% 29,621 -- --
31 3,598,226 8.950% 30,297 -- --
30 3,601,813 8.990% 30,396 -- --
29 3,629,583 9.800% 32,654 -- --
28 3,861,669 8.610% 31,693 -- --
27 3,869,884 9.420% 33,858 -- --
26 3,917,881 9.260% 33,786 -- --
25 3,955,556 9.630% 35,310 -- --
24 4,023,926 8.560% 32,857 -- --
23 4,299,998 8.540% 33,571 -- --
22 4,303,179 9.470% 37,697 -- --
21 4,394,776 9.680% 39,172 -- --
20 4,866,332 9.390% 42,437 -- --
19 4,936,854 9.720% 44,141 -- --
18 5,027,661 9.390% 44,169 -- --
17 5,221,837 8.720% 41,189 -- --
16 5,233,317 9.280% 45,283 -- --
15 5,393,551 8.730% 48,534 -- --
14 5,417,432 12.350% 55,754 -- --
13 5,477,864 8.860% 43,701 -- --
12 5,718,267 9.170% 48,959 -- --
11 6,648,838 8.920% 60,832 -- --
10 6,746,868 7.640% 51,246 -- --
9 6,955,298 9.000% 58,744 -- --
8 6,959,718 9.630% 61,793 -- --
7 7,181,491 8.190% 54,161 -- --
6 7,289,281 8.500% 60,578 -- --
5 8,243,688 8.700% 68,366 -- --
4 8,419,248 8.163% 63,339 -- --
3 9,350,974 9.270% 80,630 -- --
2 10,356,374 9.460% 90,575 -- --
1 17,717,215 8.780% 140,335 -- --
- --- ----------- ------ ---------- ---------- ----------
- -- 369,198,811 -- 3,176,715 -- --
=== =========== ====== ========== ========== ==========
Page - 20
<PAGE>
<TABLE>
SPECIALLY SERVICED LOAN DETAIL
<CAPTION>
Beginning Specially
Disclosure Scheduled Interest Maturity Property Serviced
Control # Balance Rate Date Type Status Code (1) Comments
<S> <C> <C> <C> <C> <C> <C>
<FN>
(1) Legend :
1) Request for waiver of Prepayment Penalty
2) Payment default
3) Request for Loan Modification or Workout
4) 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
Beginning Gross Proceeds
Dist. Disclosure Appraisal Appraisal Scheduled Gross as a % of
Date Control # Date Value Balance Proceeds Sched Principal
<TABLE>
REALIZED LOSS DETAIL, Continued
<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 - 21
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: FEBRUARY, 1997
DATE PRINTED: 28-FEB-97
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
001 17,717,215 0 78.7% 1.16 N/A PERFORMING PERFORM TO MATURITY
002 10,356,374 0 65.1% 1.55 N/A PERFORMING PERFORM TO MATURITY
003 9,350,974 0 56.7% 1.45 N/A PERFORMING PERFORM TO MATURITY
004 8,419,248 0 73.2% 1.70 N/A PERFORMING PERFORM TO MATURITY
005 8,243,688 0 61.5% 1.47 N/A PERFORMING PERFORM TO MATURITY
006 7,289,281 0 70.1% 1.32 N/A PERFORMING PERFORM TO MATURITY
007 7,181,491 0 74.4% 1.22 N/A PERFORMING PERFORM TO MATURITY
008 6,959,718 0 65.0% 1.00 N/A PERFORMING PERFORM TO MATURITY
009 6,955,298 0 71.1% 1.37 N/A PERFORMING PERFORM TO MATURITY
010 6,746,868 0 73.3% 1.29 N/A PERFORMING PERFORM TO MATURITY
011 6,648,838 0 67.8% 3.06 N/A PERFORMING PERFORM TO MATURITY
012 5,718,267 0 74.3% 1.23 N/A PERFORMING PERFORM TO MATURITY
013 5,477,864 0 63.7% 1.72 N/A PERFORMING PERFORM TO MATURITY
014 5,417,432 0 69.5% 3.47 N/A PERFORMING PERFORM TO MATURITY
015 5,393,551 0 59.9% 3.96 N/A PERFORMING PERFORM TO MATURITY
016 5,233,317 0 72.7% 1.50 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
017 5,221,837 0 76.8% 1.33 N/A PERFORMING PERFORM TO MATURITY
018 5,027,661 0 65.3% 0.00 N/A PERFORMING PERFORM TO MATURITY
019 4,936,854 0 73.1% 2.16 N/A PERFORMING PERFORM TO MATURITY
020 4,866,332 0 77.7% 1.74 N/A PERFORMING PERFORM TO MATURITY
021 4,394,776 0 65.6% 1.38 N/A PERFORMING PERFORM TO MATURITY
022 4,303,179 0 71.0% 0.91 N/A PERFORMING PERFORM TO MATURITY
023 4,299,998 0 70.5% 1.40 N/A PERFORMING PERFORM TO MATURITY
024 4,023,926 0 67.1% 1.04 N/A PERFORMING PERFORM TO MATURITY
025 3,955,556 0 68.2% 2.30 N/A PERFORMING PERFORM TO MATURITY
026 3,917,881 0 70.6% 1.39 N/A PERFORMING PERFORM TO MATURITY
027 3,869,884 0 69.1% 1.19 N/A PERFORMING PERFORM TO MATURITY
028 3,861,669 0 66.6% 1.24 N/A PERFORMING PERFORM TO MATURITY
029 3,629,583 0 55.8% 1.60 N/A PERFORMING PERFORM TO MATURITY
030 3,601,813 0 73.5% 1.35 N/A PERFORMING PERFORM TO MATURITY
031 3,598,226 0 70.3% 1.42 N/A PERFORMING PERFORM TO MATURITY
032 3,523,694 0 72.7% 1.20 N/A PERFORMING PERFORM TO MATURITY
033 3,478,656 0 34.3% 1.98 N/A PERFORMING PERFORM TO MATURITY
034 3,465,489 0 65.3% 1.73 N/A PERFORMING PERFORM TO MATURITY
035 3,396,964 0 71.9% 1.25 N/A PERFORMING PERFORM TO MATURITY
036 3,358,362 0 73.8% 1.42 N/A PERFORMING PERFORM TO MATURITY
037 3,290,211 0 71.5% 0.37 N/A PERFORMING PERFORM TO MATURITY
038 3,291,882 0 54.0% 2.52 N/A PERFORMING PERFORM TO MATURITY
039 3,277,722 0 60.7% 1.94 N/A PERFORMING PERFORM TO MATURITY
040 3,262,186 0 68.7% 1.31 N/A PERFORMING PERFORM TO MATURITY
041 3,159,425 0 72.6% 1.41 N/A PERFORMING PERFORM TO MATURITY
042 3,060,149 0 61.8% 1.54 N/A PERFORMING PERFORM TO MATURITY
043 2,944,425 0 62.6% 1.33 N/A PERFORMING PERFORM TO MATURITY
044 2,817,882 0 73.2% 1.56 N/A PERFORMING PERFORM TO MATURITY
045 2,772,302 0 69.3% 1.22 N/A PERFORMING PERFORM TO MATURITY
046 2,583,586 0 68.4% 1.53 N/A PERFORMING PERFORM TO MATURITY
047 2,573,820 0 61.3% 4.47 N/A PERFORMING PERFORM TO MATURITY
048 2,532,830 0 61.0% 1.38 N/A PERFORMING PERFORM TO MATURITY
049 2,542,717 0 66.9% 1.99 N/A PERFORMING PERFORM TO MATURITY
050 2,502,761 0 53.3% 1.46 N/A PERFORMING PERFORM TO MATURITY
051 2,483,122 0 42.1% 2.41 N/A PERFORMING PERFORM TO MATURITY
052 2,456,493 0 67.1% 1.81 N/A PERFORMING PERFORM TO MATURITY
053 2,383,558 0 64.4% 2.74 N/A PERFORMING PERFORM TO MATURITY
054 2,376,892 0 68.7% 1.37 N/A PERFORMING PERFORM TO MATURITY
055 2,308,004 0 68.9% 1.11 N/A PERFORMING PERFORM TO MATURITY
056 2,285,927 0 74.5% 1.44 N/A PERFORMING PERFORM TO MATURITY
057 2,281,460 0 71.3% 1.35 N/A PERFORMING PERFORM TO MATURITY
058 2,258,930 0 49.1% 1.36 N/A PERFORMING PERFORM TO MATURITY
059 2,184,352 0 70.0% 1.41 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 22
<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>
060 2,171,155 0 64.8% 1.56 N/A PERFORMING PERFORM TO MATURITY
061 2,072,639 0 63.8% 1.40 N/A PERFORMING PERFORM TO MATURITY
062 2,033,397 0 66.7% 1.73 N/A PERFORMING PERFORM TO MATURITY
063 2,024,964 0 63.3% 1.31 N/A PERFORMING PERFORM TO MATURITY
064 2,023,770 0 67.5% 1.66 N/A PERFORMING PERFORM TO MATURITY
065 1,888,432 0 70.2% 1.61 N/A PERFORMING PERFORM TO MATURITY
066 1,856,845 0 67.5% 1.48 N/A PERFORMING PERFORM TO MATURITY
067 1,803,598 0 74.5% 1.48 N/A PERFORMING PERFORM TO MATURITY
068 1,793,329 0 71.7% 0.95 N/A PERFORMING PERFORM TO MATURITY
069 1,790,471 16 67.6% 1.30 N/A PERFORMING PERFORM TO MATURITY
070 1,787,113 0 56.3% 1.71 N/A PERFORMING PERFORM TO MATURITY
071 1,782,991 0 74.3% 1.60 N/A PERFORMING PERFORM TO MATURITY
072 1,704,798 16 74.3% 1.40 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
073 1,672,514 0 71.9% 1.40 N/A PERFORMING PERFORM TO MATURITY
074 1,649,960 0 38.3% 1.84 N/A PERFORMING PERFORM TO MATURITY
075 1,579,432 0 61.3% 1.59 N/A PERFORMING PERFORM TO MATURITY
076 1,566,532 0 61.4% 1.54 N/A PERFORMING PERFORM TO MATURITY
077 1,561,730 0 74.4% 2.12 N/A PERFORMING PERFORM TO MATURITY
078 1,539,297 0 66.9% 1.53 N/A PERFORMING PERFORM TO MATURITY
079 1,492,838 0 58.1% 1.30 N/A PERFORMING PERFORM TO MATURITY
080 1,479,806 0 65.8% 1.48 N/A PERFORMING PERFORM TO MATURITY
081 1,471,141 0 64.2% 1.64 N/A PERFORMING PERFORM TO MATURITY
082 1,455,919 0 69.3% 1.60 N/A PERFORMING PERFORM TO MATURITY
083 1,467,932 0 74.3% 1.84 N/A PERFORMING PERFORM TO MATURITY
084 1,442,465 0 74.0% 1.52 N/A PERFORMING PERFORM TO MATURITY
085 1,441,670 0 72.4% 1.61 N/A PERFORMING PERFORM TO MATURITY
086 1,421,695 0 61.8% 1.81 N/A PERFORMING PERFORM TO MATURITY
087 1,413,769 0 53.3% 1.89 N/A PERFORMING PERFORM TO MATURITY
088 1,411,614 0 74.3% 1.42 N/A PERFORMING PERFORM TO MATURITY
089 1,401,857 0 69.1% 1.52 N/A PERFORMING PERFORM TO MATURITY
090 1,386,005 0 61.6% 2.29 N/A PERFORMING PERFORM TO MATURITY
091 1,369,652 0 63.7% 1.62 N/A PERFORMING PERFORM TO MATURITY
092 1,352,677 0 57.6% 1.58 N/A PERFORMING PERFORM TO MATURITY
093 1,346,753 0 57.3% 1.58 N/A PERFORMING PERFORM TO MATURITY
094 1,325,749 0 66.3% 1.49 N/A PERFORMING PERFORM TO MATURITY
095 1,304,736 0 66.9% 1.39 N/A PERFORMING PERFORM TO MATURITY
096 1,284,105 16 50.6% 1.52 N/A PERFORMING PERFORM TO MATURITY
097 1,263,195 0 69.6% 2.24 N/A PERFORMING PERFORM TO MATURITY
098 1,256,107 0 60.4% 1.58 N/A PERFORMING PERFORM TO MATURITY
099 1,238,104 0 73.7% 1.00 N/A PERFORMING PERFORM TO MATURITY
100 1,232,847 0 67.4% 1.79 N/A PERFORMING PERFORM TO MATURITY
101 1,216,071 0 52.3% 1.89 N/A PERFORMING PERFORM TO MATURITY
102 1,184,124 0 64.9% 1.75 N/A PERFORMING PERFORM TO MATURITY
103 1,170,914 0 68.9% 0.72 N/A PERFORMING PERFORM TO MATURITY
104 1,141,153 0 71.3% 1.86 N/A PERFORMING PERFORM TO MATURITY
105 1,124,393 0 69.4% 1.25 N/A PERFORMING PERFORM TO MATURITY
106 1,123,364 0 72.5% 1.29 N/A PERFORMING PERFORM TO MATURITY
107 1,126,491 0 53.6% 1.68 N/A PERFORMING PERFORM TO MATURITY
108 1,098,809 0 50.6% 1.72 N/A PERFORMING PERFORM TO MATURITY
109 1,092,101 0 63.5% 1.27 N/A PERFORMING PERFORM TO MATURITY
110 1,096,633 0 70.8% 1.42 N/A PERFORMING PERFORM TO MATURITY
111 1,044,087 0 64.4% 1.81 N/A PERFORMING PERFORM TO MATURITY
112 1,042,916 0 42.6% 1.99 N/A PERFORMING PERFORM TO MATURITY
113 1,038,807 0 73.7% 1.47 N/A PERFORMING PERFORM TO MATURITY
114 994,434 0 53.8% 1.94 N/A PERFORMING PERFORM TO MATURITY
115 987,296 0 68.1% 2.56 N/A PERFORMING PERFORM TO MATURITY
116 984,265 0 61.5% 1.46 N/A PERFORMING PERFORM TO MATURITY
117 968,603 0 67.5% 1.67 N/A PERFORMING PERFORM TO MATURITY
118 962,346 0 60.1% 1.45 N/A PERFORMING PERFORM TO MATURITY
119 954,217 0 65.8% 1.64 N/A PERFORMING PERFORM TO MATURITY
120 940,179 0 62.7% 1.73 N/A PERFORMING PERFORM TO MATURITY
121 926,670 0 71.3% 1.53 N/A PERFORMING PERFORM TO MATURITY
122 925,142 0 63.8% 1.95 N/A PERFORMING PERFORM TO MATURITY
123 922,243 0 56.9% 1.38 N/A PERFORMING PERFORM TO MATURITY
124 911,268 0 72.9% 1.82 N/A PERFORMING PERFORM TO MATURITY
125 912,327 0 57.4% 1.42 N/A PERFORMING PERFORM TO MATURITY
126 875,486 0 61.2% 1.58 N/A PERFORMING PERFORM TO MATURITY
127 863,007 0 42.4% 0.79 N/A PERFORMING PERFORM TO MATURITY
</TABLE>
Page - 23
<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>
128 866,634 0 51.0% 1.62 N/A PERFORMING PERFORM TO MATURITY
129 856,805 0 73.2% 1.69 N/A PERFORMING PERFORM TO MATURITY
130 850,696 0 53.2% 1.58 N/A PERFORMING PERFORM TO MATURITY
131 846,131 0 52.9% 1.58 N/A PERFORMING PERFORM TO MATURITY
132 840,664 0 68.6% 1.58 N/A PERFORMING PERFORM TO MATURITY
133 839,955 0 43.6% 2.31 N/A PERFORMING PERFORM TO MATURITY
134 738,796 0 55.1% 1.58 N/A PERFORMING PERFORM TO MATURITY
135 720,055 0 58.1% 1.58 N/A PERFORMING PERFORM TO MATURITY
136 715,845 0 54.0% 1.58 N/A PERFORMING PERFORM TO MATURITY
137 710,078 0 74.7% 1.36 N/A PERFORMING PERFORM TO MATURITY
138 662,225 0 74.9% 1.49 N/A PERFORMING PERFORM TO MATURITY
139 653,395 0 62.2% 1.51 N/A PERFORMING PERFORM TO MATURITY
140 604,996 0 63.7% 1.63 N/A PERFORMING PERFORM TO MATURITY
141 559,559 0 63.2% 1.48 N/A PERFORMING PERFORM TO MATURITY
142 552,683 0 28.4% 2.21 N/A PERFORMING PERFORM TO MATURITY
143 517,805 0 53.1% 1.04 N/A PERFORMING PERFORM TO MATURITY
- -- ----------- --- ------ ---- --- ------------------------- ------------------------------
TOTAL 369,199,670
===========
</TABLE>
Page - 24
<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: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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>
001 17,717,215 6/25/96 7/1/2026 53 8.780% F 140,335
002 10,356,374 8/21/96 9/1/2021 79 9.460% F 90,575
003 9,350,974 7/15/96 8/1/2021 78 9.270% F 80,630
004 8,419,248 11/22/95 12/1/2025 69 8.163% F 63,339
005 8,243,688 12/6/95 1/1/2021 107 8.700% F 68,366
006 7,289,281 12/6/95 9/1/2019 107 8.500% F 60,578
007 7,181,491 10/19/95 12/1/2025 106 8.190% F 54,161
008 6,959,718 6/27/96 7/1/2021 173 9.630% F 61,793
009 6,955,298 6/27/96 7/1/2021 113 9.000% F 58,744
010 6,746,868 12/12/95 1/1/2021 70 7.640% F 51,246
011 6,648,838 12/1/95 12/1/2015 166 8.920% F 60,832
012 5,718,267 6/20/96 7/1/2021 137 9.170% F 48,959
013 5,477,864 6/18/96 7/1/2026 77 8.860% F 43,701
014 5,417,432 10/1/93 4/1/2008 134 12.350% F 189,254
015 5,393,551 1/30/96 2/1/2016 168 8.730% F 48,534
016 5,233,317 4/18/96 5/1/2021 111 9.280% F 45,283
017 5,221,837 4/16/96 5/1/2026 75 8.720% F 41,189
018 5,027,661 9/29/95 10/1/2020 164 9.390% F 44,169
019 4,936,854 6/11/96 7/1/2021 113 9.720% F 44,141
020 4,866,332 5/31/96 6/1/2021 112 9.390% F 42,437
021 4,394,776 6/28/96 7/1/2021 113 9.680% F 39,172
022 4,303,179 6/28/96 8/1/2021 138 9.470% F 37,697
023 4,299,998 7/10/95 8/1/2025 102 8.540% F 33,571
024 4,023,926 4/4/96 5/1/2021 111 8.560% F 32,857
025 3,955,556 9/22/95 10/1/2020 104 9.630% F 35,310
026 3,917,881 6/26/96 7/1/2021 113 9.260% F 33,786
027 3,869,884 4/8/96 5/1/2021 111 9.420% F 33,858
028 3,861,669 3/4/96 4/1/2021 134 8.610% F 31,693
029 3,629,583 6/20/96 7/1/2021 113 9.800% F 32,654
030 3,601,813 6/27/96 7/1/2021 113 8.990% F 30,396
031 3,598,226 5/20/96 6/1/2021 112 8.950% F 30,297
032 3,523,694 5/6/96 6/1/2021 111 8.930% F 29,621
033 3,478,656 6/28/96 7/1/2021 173 9.280% F 30,046
034 3,465,489 3/26/96 4/1/2021 110 8.590% F 28,396
035 3,396,964 6/26/96 7/1/2026 77 9.110% F 27,708
036 3,358,362 1/30/96 2/1/2021 108 8.420% F 27,195
037 3,290,211 2/5/96 3/1/2011 169 8.210% F 32,906
038 3,291,882 5/30/96 6/1/2021 172 9.300% F 28,504
039 3,277,722 3/21/96 4/1/2026 110 8.120% F 24,491
040 3,262,186 3/21/96 4/1/2026 110 8.675% F 25,644
041 3,159,425 6/27/96 7/1/2021 113 8.920% F 26,512
042 3,060,149 5/14/96 6/1/2016 172 9.620% F 29,139
043 2,944,425 6/27/96 7/1/2011 173 9.240% F 30,858
044 2,817,882 6/25/96 7/1/2021 113 9.340% F 24,455
045 2,772,302 3/29/96 4/1/2021 110 8.570% F 22,679
046 2,583,586 6/21/96 7/1/2021 137 9.070% F 21,944
047 2,573,820 6/4/96 7/1/2016 173 9.500% F 24,235
048 2,532,830 6/19/96 7/1/2016 137 9.080% F 23,165
049 2,542,717 3/8/96 4/1/2026 110 8.120% F 18,999
050 2,502,761 6/27/96 7/1/2011 173 9.240% F 26,229
051 2,483,122 3/22/96 4/1/2026 110 8.120% F 18,554
052 2,456,493 4/20/94 5/1/2024 87 9.800% F 21,571
053 2,383,558 8/9/96 9/1/2016 115 9.820% F 22,875
054 2,376,892 10/26/95 11/1/2025 104 8.460% F 18,386
055 2,308,004 3/22/96 4/1/2016 134 8.850% F 20,873
056 2,285,927 6/26/96 7/1/2021 113 9.260% F 19,713
057 2,281,460 6/27/96 7/1/2021 137 9.480% F 20,019
058 2,258,930 4/14/89 5/1/2014 26 11.380% F 24,185
059 2,184,352 5/20/96 6/1/2021 172 9.180% F 18,734
060 2,171,155 11/23/94 12/1/2024 58 9.875% F 19,104
</TABLE>
Page - 25
<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>
061 2,072,639 2/27/96 3/1/2021 109 8.030% F 16,250
062 2,033,397 4/29/96 5/1/2021 75 9.130% F 17,386
063 2,024,964 5/3/96 6/1/2021 112 9.560% F 17,896
064 2,023,770 4/7/94 5/1/2026 51 9.250% F 16,978
065 1,888,432 6/21/96 7/1/2021 173 9.290% F 16,324
066 1,856,845 4/2/96 6/1/2026 76 8.800% F 14,743
067 1,803,598 6/28/96 7/1/2021 137 9.100% F 15,356
068 1,793,329 6/25/96 7/1/2026 173 9.260% F 14,821
069 1,790,471 6/27/96 7/1/2021 113 9.180% F 15,328
070 1,787,113 5/2/96 6/1/2021 172 9.140% F 15,278
071 1,782,991 10/19/95 12/1/2025 106 8.190% F 13,447
072 1,704,798 3/22/96 4/1/2021 134 9.360% F 14,845
073 1,672,514 5/6/96 6/1/2021 111 8.930% F 14,060
074 1,649,960 3/28/96 4/1/2021 134 9.130% F 14,121
075 1,579,432 5/14/96 6/1/2016 172 9.620% F 15,040
076 1,566,532 12/7/95 1/1/2016 167 8.780% F 14,170
077 1,561,730 7/5/95 8/1/2025 67 8.510% F 12,160
078 1,539,297 5/7/96 6/1/2021 76 9.360% F 13,392
079 1,492,838 7/17/96 8/1/2021 114 9.800% F 13,420
080 1,479,806 4/16/96 5/1/2016 135 9.250% F 13,738
081 1,471,141 12/5/94 1/1/2020 59 10.500% F 14,163
082 1,455,919 6/19/96 7/1/2012 185 9.330% F 14,868
083 1,467,932 11/28/95 1/1/2026 59 8.050% F 10,921
084 1,442,465 4/30/96 2/1/2016 111 9.110% F 13,262
085 1,441,670 6/27/96 7/1/2021 137 9.640% F 12,810
086 1,421,695 3/28/96 4/1/2021 134 8.970% F 12,013
087 1,413,769 3/22/96 4/1/2016 110 9.370% F 13,255
088 1,411,614 3/25/96 4/1/2021 109 8.890% F 11,851
089 1,401,857 5/24/96 6/1/2021 136 9.120% F 11,966
090 1,386,005 6/21/96 7/1/2021 113 9.650% F 12,325
091 1,369,652 6/28/96 7/1/2008 137 9.320% F 11,868
092 1,352,677 1/26/96 2/1/2016 108 8.700% F 12,147
093 1,346,753 1/26/96 2/1/2016 108 8.700% F 12,093
094 1,325,749 3/28/96 4/1/2021 170 9.300% F 11,500
095 1,304,736 7/5/95 8/1/2025 67 8.510% F 10,159
096 1,284,105 12/7/95 1/1/2021 106 8.430% F 10,407
097 1,263,195 3/23/94 4/1/2019 50 8.750% F 10,770
098 1,256,107 1/26/96 2/1/2016 108 8.700% F 11,279
099 1,238,104 5/30/96 12/1/2018 172 8.950% F 10,772
100 1,232,847 12/20/95 1/1/2021 167 8.230% F 9,839
101 1,216,071 3/28/96 4/1/2021 170 9.300% F 10,549
102 1,184,124 12/15/95 1/1/2021 107 8.460% F 9,630
103 1,170,914 5/20/96 6/1/2010 160 9.160% F 12,700
104 1,141,153 2/12/96 3/1/2026 73 7.960% F 8,406
105 1,124,393 4/3/96 5/1/2012 183 8.750% F 11,149
106 1,123,364 2/8/96 3/1/2016 109 8.180% F 9,706
107 1,126,491 6/27/96 7/1/2021 113 9.640% F 10,009
108 1,098,809 6/27/96 7/1/2021 137 9.790% F 9,878
109 1,092,101 8/14/96 9/1/2016 175 9.450% F 10,218
110 1,096,633 7/12/96 8/1/2026 114 9.420% F 9,185
111 1,044,087 6/7/96 7/1/2021 137 9.760% F 9,364
112 1,042,916 5/22/96 6/1/2021 136 9.500% F 9,174
113 1,038,807 2/22/96 3/1/2021 133 8.720% F 8,611
114 994,434 6/26/96 7/1/2021 137 9.830% F 8,967
115 987,296 1/31/94 2/1/2024 48 9.000% F 8,127
116 984,265 6/28/96 7/1/2021 113 9.590% F 8,712
117 968,603 4/18/94 5/1/2019 51 9.375% F 8,650
118 962,346 12/20/95 1/1/2021 131 8.580% F 7,904
119 954,217 6/19/96 7/1/2012 185 9.330% F 9,744
120 940,179 2/23/96 3/1/2021 133 8.910% F 7,914
121 926,670 6/28/96 7/1/2016 137 9.580% F 8,774
122 925,142 6/6/96 7/1/2021 113 9.090% F 7,870
123 922,243 4/29/96 5/1/2021 171 8.950% F 7,773
124 911,268 12/3/93 1/1/2014 47 8.750% F 8,616
125 912,327 4/29/96 5/1/2021 171 8.950% F 7,689
126 875,486 1/26/96 2/1/2016 108 8.700% F 7,862
127 863,007 4/15/93 4/15/2008 134 9.600% F 10,529
</TABLE>
Page - 26
<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>
128 866,634 1/26/96 2/1/2016 108 8.700% F 7,782
129 856,805 5/23/96 6/1/2021 112 9.630% F 7,614
130 850,696 1/26/96 2/1/2016 108 8.700% F 7,639
131 846,131 1/26/96 2/1/2016 108 8.700% F 7,598
132 840,664 1/26/96 2/1/2016 108 8.700% F 7,549
133 839,955 3/28/96 4/1/2021 170 9.300% F 7,286
134 738,796 1/26/96 2/1/2016 108 8.700% F 6,634
135 720,055 1/26/96 2/1/2016 108 8.700% F 6,466
136 715,845 1/26/96 2/1/2016 108 8.700% F 6,428
137 710,078 9/10/96 10/1/2021 134 9.360% F 6,156
138 662,225 4/18/94 5/1/2024 51 9.375% F 5,614
139 653,395 4/4/94 5/1/2019 51 9.250% F 5,781
140 604,996 4/4/94 5/1/2019 51 9.250% F 5,352
141 559,559 5/23/96 6/1/2016 112 9.620% F 5,320
142 552,683 9/1/94 9/1/2009 151 9.900% A 6,412
143 517,805 4/15/93 4/15/2008 134 9.600% F 6,318
- -- ----------- ---------- ---------- ---- -------- --- -------
TOTAL 369,199,670
===========
</TABLE>
Page - 27
<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: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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 8 178,248 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
014 1 RETAIL LAS VEGAS NV 89103 1983 N/A 105,245 7,800,000 12/14/95 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
</TABLE>
Page - 28
<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>
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
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 1 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
</TABLE>
Page - 29
<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>
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 10 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
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 - 30
<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: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
<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 1,086,262 1/1/96 6/30/96 BORROWER 91.2% 6/30/96
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 1,128,118 1/1/96 9/30/96 BORROWER 76.2% 9/30/96
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 675,766 1/1/96 9/30/96 BORROWER 100.0% 3/25/96
011 1 2,240,626 12/31/95 BORROWER 1,608,796 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% 9/30/96
013 1 903,048 12/31/95 BORROWER 903,048 1/1/95 12/31/95 BORROWER 96.0% 5/13/96
014 1 774,124 N/A UNDERWRITER N/A N/A N/A N/A N/A
015 1 2,311,037 12/31/95 BORROWER 2,304,213 1/1/96 9/30/96 BORROWER 71.1% 9/30/96
016 1 819,088 12/31/95 BORROWER 173,149 4/1/96 6/30/96 BORROWER 92.5% 9/1/96
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 1,837,997 12/31/95 BORROWER 1,046,249 2/4/96 9/30/96 BORROWER 100.0% 9/12/95
019 1 1,144,973 12/31/96 BORROWER 483,813 6/15/95 12/31/96 BORROWER 90.0% 1/27/97
020 1 886,178 12/31/95 BORROWER 514,461 1/1/96 11/30/96 BORROWER 81.6% 9/30/96
021 1 652,575 12/31/96 BORROWER 652,575 1/1/96 12/31/96 BORROWER 95.3% 12/31/96
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 408,936 1/1/96 9/30/96 BORROWER 86.0% 9/30/96
024 1 411,237 12/31/95 BORROWER 294,058 4/1/96 9/30/96 BORROWER 78.0% 10/1/97
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 447,491 1/1/96 9/30/96 BORROWER 98.1% 6/24/96
027 1 486,085 12/31/95 BORROWER 385,245 4/9/96 9/30/96 BORROWER 93.4% 9/30/96
028 1 473,834 12/31/95 PROSPECTUS 352,733 1/1/96 9/30/96 BORROWER 96.2% 9/30/96
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 436,728 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
032 1 427,764 12/31/95 N/A 294,742 1/1/96 9/30/96 BORROWER 96.1% 9/30/96
033 1 714,772 12/31/95 BORROWER 80,846 7/1/96 9/30/96 BORROWER 72.8% 9/30/96
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 357,158 1/1/96 9/30/96 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 484,692 1/1/96 9/30/96 BORROWER 95.0% 10/1/96
040 1 404,060 12/31/95 N/A 277,443 1/1/96 9/30/96 BORROWER 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 362,147 1/1/96 9/25/96 BORROWER 89.3% 9/30/96
045 1 334,449 10/31/95 BORROWER 235,301 3/29/96 9/30/96 BORROWER 91.4% 6/1/96
046 1 403,101 12/31/96 BORROWER 403,101 1/1/96 12/31/96 BORROWER 94.4% 12/31/96
047 1 1,301,875 12/31/95 BORROWER 1,100,053 1/1/96 9/30/96 BORROWER 81.7% 5/31/96
048 1 507,651 12/31/95 BORROWER 346,804 1/1/96 11/30/96 BORROWER 100.0% 9/30/96
049 1 454,610 12/31/95 BORROWER 401,135 1/1/96 9/30/96 BORROWER 100.0% 10/1/96
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 287,666 1/1/96 9/30/96 BORROWER 95.9% 10/1/96
051 2 158,626 12/31/95 BORROWER 269,889 1/1/96 9/30/96 BORROWER 90.0% 10/1/96
052 1 470,876 12/31/95 N/A 373,611 1/1/96 9/30/96 BORROWER 88.3% 9/30/96
053 1 753,275 12/31/95 N/A 401,486 1/1/96 9/30/96 BORROWER 70.6% 9/30/96
054 1 302,318 12/31/95 N/A 246,195 1/1/96 9/30/96 BORROWER 94.7% 9/30/96
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 248,207 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
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 240,017 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
060 1 357,627 12/31/95 N/A 354,354 1/1/96 9/30/96 BORROWER 91.7% 9/30/96
061 1 274,183 12/31/95 BORROWER 201,891 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
</TABLE>
Page - 31
<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>
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 120,685 5/1/96 9/30/96 BORROWER 98.0% 9/30/96
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 215,979 1/1/96 9/30/96 BORROWER 97.6% 6/3/96
066 1 263,249 12/31/95 N/A 70,789 8/1/96 9/30/96 N/A 99.2% 9/30/96
067 1 273,506 12/31/95 BORROWER 96,583 1/1/96 9/30/96 BORROWER 99.2% 9/30/96
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 162,821 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
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 100,314 1/1/96 9/30/96 BORROWER 95.7% 9/30/96
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 225,215 1/1/96 9/30/96 BORROWER 90.4% 9/30/96
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 242,426 1/1/96 9/30/96 BORROWER 81.2% 9/30/96
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 147,782 1/1/96 9/30/96 BORROWER 97.5% 9/30/96
084 1 242,468 12/31/95 BORROWER 193,295 5/1/96 12/31/96 BORROWER 94.8% 12/31/96
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 99,835 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
086 2 128,537 12/31/95 BORROWER 116,144 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
087 1 301,274 12/31/95 BORROWER 197,777 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
088 1 203,321 12/31/95 N/A 89,668 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
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 194,935 1/1/96 9/30/96 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 538,893 1/30/96 8/11/96 BORROWER 100.0% 8/20/95
093 1 230,540 9/1/96 PROSPECTUS 532,033 1/30/96 8/11/96 BORROWER 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 126,749 1/1/96 9/30/96 BORROWER 91.1% 9/30/96
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 353,311 1/30/96 8/11/96 BORROWER 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 150,917 1/1/96 9/30/96 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 66,332 1/1/96 9/30/96 BORROWER 98.7% 9/30/96
105 1 168,459 12/31/96 BORROWER 192,858 1/1/96 12/31/96 BORROWER 92.9% 9/30/96
106 1 150,418 12/31/95 BORROWER 149,116 1/1/96 9/30/96 BORROWER 98.7% 9/30/96
107 1 202,683 12/31/96 BORROWER 202,683 1/1/96 12/31/96 BORROWER 100.0% 12/31/97
108 1 204,354 12/31/95 BORROWER 158,498 1/1/96 9/30/96 BORROWER 92.7% 9/30/96
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 114,271 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
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 181,222 1/1/96 9/30/96 BORROWER 78.0% 9/30/96
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 47,046 1/1/96 9/30/96 BORROWER 90.0% 10/11/96
115 1 249,940 12/31/95 N/A 122,302 1/1/96 9/30/96 BORROWER 76.5% 9/30/96
116 1 153,194 12/31/95 BORROWER 47,724 7/1/96 9/30/96 BORROWER 91.0% 9/30/96
117 1 173,686 12/31/95 N/A 116,756 1/1/96 9/30/96 BORROWER 85.1% 9/30/96
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 88,788 1/1/96 9/30/96 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 121,649 1/1/96 9/30/96 BORROWER 93.8% 5/25/96
124 1 189,016 12/31/95 N/A 131,555 1/1/96 9/30/96 BORROWER 94.6% 3/27/96
125 1 131,522 12/31/95 BORROWER 143,905 1/1/96 9/30/96 BORROWER 97.8% 9/30/96
126 1 149,867 9/1/96 PROSPECTUS 330,803 1/30/96 8/11/96 BORROWER 100.0% 8/25/95
</TABLE>
Page - 32
<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>
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 187,338 1/30/96 8/11/96 BORROWER 100.0% 8/21/95
129 1 154,921 12/31/95 BORROWER 46,298 6/1/96 9/30/96 BORROWER 84.6% 9/30/96
130 1 145,625 9/1/96 PROSPECTUS 358,948 1/30/96 8/11/96 BORROWER 100.0% 8/18/95
131 1 144,842 9/1/96 PROSPECTUS 288,509 1/30/96 8/11/96 BORROWER 100.0% 8/18/95
132 1 143,907 9/1/96 PROSPECTUS 288,993 2/1/96 8/11/96 BORROWER 100.0% 8/11/96
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 129,317 1/30/96 8/11/96 BORROWER 100.0% 8/17/95
135 1 123,261 9/1/96 PROSPECTUS 180,651 1/30/96 8/11/96 BORROWER 100.0% 8/17/95
136 1 122,540 9/1/96 PROSPECTUS 157,389 1/30/96 8/11/96 BORROWER 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
138 1 100,835 12/31/95 N/A 75,649 1/1/96 9/30/96 BORROWER 100.0% 9/30/96
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 - 33
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - ASSET COMMENTS
PORTFOLIO: MIDLAND REALTY ACCEPT CORP SER 1996 C1
REPORTING PERIOD: FEBRUARY, 1997
DATE PRINTED: 26-FEB-97
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: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 5% COMPARED TO BASELINE FIGURES.
LOAN 011 - 1:
LOAN 012 - 1:
LOAN 013 - 1:
LOAN 014 - 1:
LOAN 015 - 1:
LOAN 016 - 1: Status Comment: This loan has the potential to lose 62%
of its tenants by March.
LOAN 017 - 1:
LOAN 018 - 1: Latest Annual Statement Comment: 12/31/95 - STATEMENT
REFLECTS OPERATIONS OF OWNER/OCCUPANT'S RETAIL BUSINESS. Partial Year
Statement Comment: 9/30/96 - STATEMENT REFLECTS OPERATIONS OF
OWNER/OCCUPANT'S RETAIL BUSINESS.
LOAN 019 - 1:
LOAN 020 - 1: Partial Year Statement Comment: 11/30/96 - REVENUE IS
DOWN BY 36% COMPARED TO BASELINE FIGURES. BORROWER REPORTS THAT IT IS DUE
TO 2ND FLOOR OF BUILDING VACANT. (APPROX. 70,000 SQ.FT) CAPITAL EXPENSE DUE
TO UST REMOVAL, ASBESTOS REMOVAL, AND INSTALLATION OF SPRINKLER SYSTEM.
LOAN 021 - 1: Latest Annual Statement Comment: 12/31/96 - CAPITAL
REPAIRS INCLUDES $182,593 IN FINANCING COSTS ASSOCIATED WITH RE-FINANCE.
LOAN 022 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS
DOWN BY 3% COMPARED TO THE BASELINE BUT UP BY 35% COMPARED TO PREVIOUS YEAR.
EXPENSES ARE UP BY 15% IN RELATION TO THE BASELINE.
LOAN 023 - 1:
LOAN 024 - 1:
LOAN 025 - 1:
LOAN 026 - 1:
Page - 34
<PAGE>
LOAN 027 - 1: Partial Year Statement Comment: 9/30/96 - STATEMENT IS
FROM BORROWER PURCHASE DATE. REVENUE IS UP BY 29% COMPARED TO PREVIOUS YEAR.
LOAN 028 - 1:
LOAN 029 - 1:
LOAN 030 - 1:
LOAN 031 - 1:
LOAN 032 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS
DOWN BY 4% COMPARED TO THE BASELINE FIGURES. EXPENSES ARE 68% HIGHER THAN
BASELINE NUMBERS WITH THE LARGEST VARIANCE IN PROPERTY MANAGEMENT.
MANAGEMENT FEE IS 13.10% VERSUS THE 5% UNDERWRITTEN LEVEL.
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.
LOAN 035 - 1:
LOAN 036 - 1:
LOAN 037 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS UP
BY 138% COMPARED TO PREVIOUS YEAR, BUT DOWN 3% FROM BASELINE FIGURES.
OCCUPANCY HAS INCREASED FROM 58.2% AT YR. END 1995 TO 85.3% CURRENT PERIOD.
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: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 16% COMPARED BASELINE FIGURES.
LOAN 048 - 1: Partial Year Statement Comment: 11/30/96 - EXPENSES ARE
UP BY 34% COMPARED TO BASELINE FIGURES. THE LARGEST VARIANCE IS IN R&M UP
BY 66%.
LOAN 049 - 1:
LOAN 050 - 1:
LOAN 051 - 1:
LOAN 051 - 2:
LOAN 052 - 1:
LOAN 053 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
DOWN BY 12% COMPARED TO THE BASELINE PROJECTIONS. EXPENSES ARE DOWN BY 19%
COMPARED TO BASELINE FIGURES.
LOAN 054 - 1:
LOAN 055 - 1:
LOAN 056 - 1:
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LOAN 057 - 1:
LOAN 058 - 1:
LOAN 059 - 1:
LOAN 060 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 11% COMPARED TO BASELINE FIGURES. EXPENSES ARE DOWN BY 12% COMPARED
TO BASELINE NUMBERS.
LOAN 061 - 1:
LOAN 062 - 1:
LOAN 063 - 1:
LOAN 064 - 1:
LOAN 065 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
DOWN BY 11% COMPARED TO THE BASELINE PROJECTIONS.
LOAN 066 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
DOWN BY 35% COMPARED TO THE BASELINE.
LOAN 067 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
DOWN BY 20% COMPARED TO BASELINE PROJECTIONS.
LOAN 068 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS UP
BY 18% COMPARED TO PRIOR YEAR.
LOAN 069 - 1:
LOAN 070 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 18%. EXPENSES ARE UP BY 34%. STATEMENT INDICATES SEVERAL PROPERTY
UPGRADE EXPENSES SUCH AS CARPET AND APPLIANCE REPLACEMENT.
LOAN 071 - 1:
LOAN 072 - 2: Status Comment: Consistently delinquent.
LOAN 072 - 1: Status Comment: Consistently delinquent.
LOAN 073 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
UP BY 160% COMPARED TO BASELINE FIGURES. PROPERTY MANAGEMENT FEE IS 11.81%
OF GROSS REVENUE VERSUS 5% UNDERWRITING LEVEL.
LOAN 074 - 2:
LOAN 074 - 1: Latest Annual Statement Comment: 12/31/95 - COMBINED
STATEMENT.
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 - 2:
LOAN 081 - 1:
LOAN 082 - 1:
LOAN 083 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
UP BY 32% COMPARED TO BASELINE PROJECTIONS. BORROWER REPORTED NO TAX OR
INSURANCE EXPENSE.
LOAN 084 - 1: Partial Year Statement Comment: 12/31/96 - EXPENSES ARE
DOWN BY 13% COMPARED TO THE BASELINE PROJECTIONS.
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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: Partial Year Statement Comment: 9/30/96 - HIGH CAPITAL
EXPENDITURE DUE TO PROPERTY OVERHAUL INCLUDING, EXTERIOR PAINT, NEW
RETAINING WALL, NEW WALKWAYS, AND NEW PORCHES.
LOAN 086 - 2:
LOAN 087 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
UP BY 33% COMPARED TO BASELINE. INSURANCE EXPENSE INCLUDES FULL YEAR AMOUNT
ALONG WITH A $51,016.92 PREMIUM FOR AN ENVIRONMENTAL INSURANCE POLICY.
POLICY TERM IS 5 YEARS.
LOAN 088 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
UP BY 119% COMPARED TO BASELINE FIGURES. PROPERTY MANAGEMENT FEE IS 27.74%
OF REVENUE VERSUS UNDERWRITING LEVEL OF 5%.
LOAN 089 - 1:
LOAN 090 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS UP
BY 8% COMPARED TO BASELINE FIGURES, BUT DOWN BY 9% COMPARED TO PREVIOUS
YEAR.
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: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
DOWN BY 3% COMPARED TO THE BASELINE NUMBERS. EXPENSES ARE UP BY 6% COMPARED
TO BASELINE FIGURES.
LOAN 097 - 1:
LOAN 098 - 1:
LOAN 099 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS
DOWN BY 14% COMPARED TO BASELINE FIGURES. EXPENSES ARE DOWN BY 28% COMPARED
TO BASELINE NUMBERS.
LOAN 100 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
UP BY 8% COMPARED TO BASELINE FIGURES.
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. Partial
Year Statement Comment: 9/30/96 - REVENUE IS UP BY 29% COMPARED TO
PREVIOUS YEAR. PROPERTY OCCUPANCY WAS LOW DUE TO RE-HAB IN 1995.
LOAN 104 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
UP BY 53% COMPARED TO BASELINE FIGURES. THE LARGEST VARIANCES ARE IN R&M
AND GENERAL AND ADMINISTRATIVE.
LOAN 105 - 1:
LOAN 106 - 1:
LOAN 107 - 1:
LOAN 108 - 1:
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<PAGE>
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: Partial Year Statement Comment: 9/30/96 - REVENUE DOWN
BY 52% COMPARED TO BASELINE FIGURES. BORROWER REPORTS THAT THIS IS DUE TO
RENTAL CONCESSIONS GRANTED TO TENANTS IN WHICH ONE TENANT PAYS ONLY HALF
MONTHLY AMT. AND OTHER TENANTS PAY NOTHING. BEGINNING IN DECEMBER ALL
TENANTS PAY FULL RENT.
LOAN 114 - 1: Partial Year Statement Comment: 9/30/96 - REVENUES ARE
DOWN BY 4% COMPARED TO BASELINE. EXPENSES ARE UP BY 109% COMPARED TO
BASELINE. THE LARGEST VARIANCES ARE IN R&M AND UTILITIES.BORROWER REPORTS
HIGH R&M IS DUE TO REPLACEMENT AND REPAIR OF HVAC UNITS.NO EXPLANATION FOR
UTILITY VARIANCE.
LOAN 115 - 1: Partial Year Statement Comment: 9/30/96 - REVENUE IS
DOWN BY 10% COMPARED TO BASELINE FIGURES. EXPENSES ARE UP BY 12% COMPARED
TO BASELINE NUMBERS. OCCUPANCY HAS DROPPED FROM 89% IN MARCH TO 76% CURRENT
PERIOD.
LOAN 116 - 1: Partial Year Statement Comment: 9/30/96 - EXPENSES ARE
DOWN BY 45% COMPARED TO THE BASELINE FIGURES.
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: Partial Year Statement Comment: 9/30/96 - STATEMENT IS
FROM DATE OF CLOSING THROUGH THIRD QUARTER.REVENUES ARE DOWN 15% COMPARED TO
BASELINE FIGURES. EXPENSES DOWN 24% COMPARED TO BASELINE NUMBERS.
OCCUPANCY HAS DROPPED FROM 91.6% AT 1/30/96 TO 84.6% PRESENT PERIOD.
LOAN 130 - 1:
LOAN 131 - 1:
LOAN 132 - 1:
LOAN 133 - 1:
LOAN 134 - 1:
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LOAN 135 - 1:
LOAN 136 - 1:
LOAN 137 - 1:
LOAN 138 - 1:
LOAN 139 - 1:
LOAN 140 - 1:
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LOAN 143 - 1:
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