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 - October 27, 1997
-----------------------------------
(Date of Earliest Event Reported)
EQUITY ONE ABS, INC.
--------------------
(as depositor under a certain Pooling and Servicing Agreement
dated as of June 1, 1997, providing for the issuance of Mortgage Pass-Through
Certificates, Series 1997-1)
(Exact Name of Registrant as specified in its charter)
Delaware 333-24599 52-2029487
- ------------------------ --------------------- -----------------------
(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803
-----------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 478-6160
<PAGE>
Item 5. Other Events
(i) Attached hereto as Annex A is a revised copy of the Statement to
Certificateholders sent to Class A Certificateholders with respect to the
August 25, 1997 Distribution Date;
(ii) Attached hereto as Annex B is a revised copy of the Statement to
Certificateholders sent to Class A Certificateholders with respect to the
September 25, 1997 Distribution Date; and
(iii) Attached hereto as Annex C is a copy of the Statement to
Certificateholders sent to Class A Certificateholders with respect to the
October 27, 1997 Distribution Date.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
EQUITY ONE ABS, INC.
By: /s/ Dennis Kildea
--------------------
Dennis Kildea,
Vice President
Dated: October 29, 1997
3
<PAGE>
ANNEX A
EQUITY ONE ABS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
Revised PAGE #1
DISTRIBUTION: 25-Aug-97
RECORD DATE: 22-Aug-97
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 31,000,000.00 31,000,000.00 2,435,974.46 342,033.33 2,778,007.79 28,564,025.54
A-2 24,200,000.00 24,200,000.00 0.00 282,736.67 282,736.67 24,200,000.00
A-3 14,500,000.00 14,500,000.00 0.00 173,758.33 173,758.33 14,500,000.00
A-4 12,000,000.00 12,000,000.00 0.00 147,600.00 147,600.00 12,000,000.00
A-5 21,141,606.00 21,141,606.00 0.00 266,031.88 266,031.88 21,141,606.00
R N/A N/A 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------
TOTALS 102,841,606.00 102,841,606.00 2,435,974.46 1,212,160.21 3,648,134.67 100,405,631.54
- -----------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------- -------------------------
<S> <C> <C> <C> <C> <C> <C>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
ENDING
CUSIP PRINCIPAL INTEREST CERTIFICATE PASS
CLASS NUMBER DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
- --------------------------------------------------------------------- ------------------------
A-1 294751 AAO 78.57982129 11.03333323 921.42017871 A-1 6.62000%
A-2 294751 AB8 0.00000000 11.68333347 1000.00000000 A-2 7.01000%
A-3 294751 AC6 0.00000000 11.98333310 1000.00000000 A-3 7.19000%
A-4 294751 AD4 0.00000000 12.30000000 1000.00000000 A-4 7.38000%
A-5 294751 AE2 0.00000000 12.58333355 1000.00000000 A-5 7.55000%
- --------------------------------------------------------------------- ------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR COMMENTS, PLEASE CONTACT THE ADMINISTRATOR
LISTED BELOW
---------------------------------------------------------
ARANKA PAUL
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3236
---------------------------------------------------------
[LOGO] CHASE (C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
EQUITY ONE ABS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1
STATEMENT TO CERTIFICATEHOLDERS
============================================================================================
DISTRIBUTION: 25-Aug-97 Revised PAGE # 2
RECORD DATE: 22-Aug-97
<S> <C> <C> <C> <C>
SEC. 4.03 (a) (i) TOTAL PRINCIPAL DISTRIBUTION 2,435,974.46
SCHEDULED PRINCIPAL DUE 228,208.03
CURTAILMENTS 38,976.54
PAYOFFS 2,168,789.89
REPURCHASES PRINCIPAL BALANCE 0.00
LIQUIDATION PROCEEDS 0.00
LOAN LOSSES 0.00
SUBSTITUTE LOAN ADJUSTMENT AMOUNT 0.00
PRINCIPAL SHORTFALL 0.00
SEC. 4.03 (a) (ii) TOTAL INTEREST DISTRIBUTION
PREVIOUSLY CURRENT TOTAL
SCHEDULED UNPAID INTEREST INTEREST
INTEREST INTEREST SHORTFALL SHORTFALL
---------- ---------- --------- ---------
CLASS A-1 DISTRIBUTION 342,033.33 0.00 0.00 0.00
CLASS A-2 DISTRIBUTION 282,736.67 0.00 0.00 0.00
CLASS A-3 DISTRIBUTION 173,758.33 0.00 0.00 0.00
CLASS A-4 DISTRIBUTION 147,600.00 0.00 0.00 0.00
CLASS A-5 DISTRIBUTION 266,031.88 0.00 0.00 0.00
SEC. 4.03 (a) (iii) TOTAL SHORTFALL
ALLOC ALLOC
TO INT TO PRIN SHORTFALL
------ ------- ---------
CLASS A-1 DISTRIBUTION 0.00 0.00 0.00
CLASS A-2 DISTRIBUTION 0.00 0.00 0.00
CLASS A-3 DISTRIBUTION 0.00 0.00 0.00
CLASS A-4 DISTRIBUTION 0.00 0.00 0.00
CLASS A-5 DISTRIBUTION 0.00 0.00 0.00
SEC. 4.03 (a) (v) POOL SCHEDULED PRINCIPAL BALANCE 100,405,631.79
SEC. 4.03 (a) (vi) SERVICING FEES 79,299.93
SEC. 4.03 (a) (viii) ADVANCES INCLUDED IN CURRENT DISTRIBUTION 232,930.82
AGGREGATE AMOUNT OF ADVANCES OUTSTANDING 232,930.82
SEC. 4.03 (a) (ix) PERIOD NUMBER PERCENTAGE PRIN. BALANCE PERCENTAGE
------ ------ ---------- ------------- ----------
DELINQUENCIES 1 - 30 DAYS 235 20.26% 20,956,575.86 20.87%
30 - 60 DAYS 21 1.81% 1,933,488.37 1.93%
61 - 90 DAYS 5 0.43% 699,427.79 0.70%
91+ DAYS 2 0.17% 106,714.11 0.11%
FORECLOSURE 1 - 30 DAYS 0 0.00% 0.00 0.00%
30 - 60 DAYS 0 0.00% 0.00 0.00%
61 - 90 DAYS 0 0.00% 0.00 0.00%
91+ DAYS 0 0.00% 0.00 0.00%
SEC. 4.03 (a) (x) LOANS THAT BECAME REO PROPERTY DURING REPORTING PERIOD: NONE
SEC. 4.03 (a) (xi) OUTSTANDING REO PROPERTIES NUMBER PRINCIPAL BAL MARKET VALUE
------ ------------- ------------
0 0.00 0.00
SEC. 4.03 (a) (xii) AMOUNTS WITHDRAWN FROM SPREAD ACCT
FOR DEPOSIT TO DISTRIBUTION ACCT 0.00
SEC. 4.03 (a) (xiii) MONTHLY SPREAD ACCT DEPOSIT AMOUNT 431,394.22
SPREAD ACCT DEPOSIT PERCENTAGE 100%
SPREAD ACCT DEPOSIT AMOUNT 431,394.22
SPREAD ACCT EXCESS 0.00
SEC. 4.03 (a) (xiv) SPREAD ACCT BALANCE AFTER DISTRIBUTION DATE 945,602.52
SEC. 4.03 (a) (xv) SPECIFIED SPREAD ACCT REQUIREMENT 2,571,040.16
[LOGO] CHASE (C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
ANNEX B
EQUITY ONE ABS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
Revised PAGE #1
DISTRIBUTION: 25-Sep-97
RECORD DATE: 24-Sep-97
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 31,000,000.00 28,564,025.54 1,786,126.71 157,578.21 1,943,704.92 26,777,898.83
A-2 24,200,000.00 24,200,000.00 0.00 141,368.33 141,368.33 24,200,000.00
A-3 14,500,000.00 14,500,000.00 0.00 86,879.17 86,879.17 14,500,000.00
A-4 12,000,000.00 12,000,000.00 0.00 73,800.00 73,800.00 12,000,000.00
A-5 21,141,606.00 21,141,606.00 0.00 133,015.94 133,015.94 21,141,606.00
R N/A N/A 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------
TOTALS 102,841,606.00 100,405,631.54 1,786,126.71 592,641.65 2,378,768.36 98,619,504.83
- -----------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------- -------------------------
<S> <C> <C> <C> <C> <C> <C>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
ENDING
CUSIP PRINCIPAL INTEREST CERTIFICATE PASS
CLASS NUMBER DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
- --------------------------------------------------------------------- ------------------------
A-1 294751 AAO 57.61699065 5.08316806 863.80318806 A-1 6.62000%
A-2 294751 AB8 0.00000000 5.84166653 1000.00000000 A-2 7.01000%
A-3 294751 AC6 0.00000000 5.99166690 1000.00000000 A-3 7.19000%
A-4 294751 AD4 0.00000000 6.15000000 1000.00000000 A-4 7.38000%
A-5 294751 AE2 0.00000000 6.29166677 1000.00000000 A-5 7.55000%
- --------------------------------------------------------------------- ------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR COMMENTS, PLEASE CONTACT THE ADMINISTRATOR
LISTED BELOW
---------------------------------------------------------
ARANKA PAUL
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3236
---------------------------------------------------------
[LOGO] CHASE (C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
EQUITY ONE ABS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1
STATEMENT TO CERTIFICATEHOLDERS
============================================================================================
DISTRIBUTION: 25-Sep-97 Revised PAGE # 2
RECORD DATE: 24-Sep-97
<S> <C> <C> <C> <C>
SEC. 4.03 (a) (i) TOTAL PRINCIPAL DISTRIBUTION 1,786,126.71
SCHEDULED PRINCIPAL DUE 120,988.44
CURTAILMENTS 15,435.96
PAYOFFS 1,649,702.31
REPURCHASES PRINCIPAL BALANCE 0.00
LIQUIDATION PROCEEDS 0.00
LOAN LOSSES 0.00
SUBSTITUTE LOAN ADJUSTMENT AMOUNT 0.00
PRINCIPAL SHORTFALL 0.00
SEC. 4.03 (a) (ii) TOTAL INTEREST DISTRIBUTION
PREVIOUSLY CURRENT TOTAL
SCHEDULED UNPAID INTEREST INTEREST
INTEREST INTEREST SHORTFALL SHORTFALL
---------- ---------- --------- ---------
CLASS A-1 DISTRIBUTION 157,578.21 0.00 0.00 0.00
CLASS A-2 DISTRIBUTION 141,368.33 0.00 0.00 0.00
CLASS A-3 DISTRIBUTION 86,879.17 0.00 0.00 0.00
CLASS A-4 DISTRIBUTION 73,800.00 0.00 0.00 0.00
CLASS A-5 DISTRIBUTION 133,015.94 0.00 0.00 0.00
SEC. 4.03 (a) (iii) TOTAL SHORTFALL
ALLOC ALLOC
TO INT TO PRIN SHORTFALL
------ ------- ---------
CLASS A-1 DISTRIBUTION 0.00 0.00 0.00
CLASS A-2 DISTRIBUTION 0.00 0.00 0.00
CLASS A-3 DISTRIBUTION 0.00 0.00 0.00
CLASS A-4 DISTRIBUTION 0.00 0.00 0.00
CLASS A-5 DISTRIBUTION 0.00 0.00 0.00
SEC. 4.03 (a) (v) POOL SCHEDULED PRINCIPAL BALANCE 98,634,211.71
SEC. 4.03 (a) (vi) SERVICING FEES 41,431.27
SEC. 4.03 (a) (viii) ADVANCES INCLUDED IN CURRENT DISTRIBUTION 256,769.59
AGGREGATE AMOUNT OF ADVANCES OUTSTANDING 256,769.59
SEC. 4.03 (a) (ix) PERIOD NUMBER PERCENTAGE PRIN. BALANCE PERCENTAGE
------ ------ ---------- ------------- ----------
DELINQUENCIES 1 - 30 DAYS 267 23.34% 23,341,369.15 23.66%
30 - 60 DAYS 30 2.62% 2,073,653.08 2.10%
61 - 90 DAYS 7 0.61% 537,110.63 0.54%
91+ DAYS 3 0.26% 522,674.79 0.53%
FORECLOSURE 1 - 30 DAYS 0 0.00% 0.00 0.00%
30 - 60 DAYS 0 0.00% 0.00 0.00%
61 - 90 DAYS 0 0.00% 0.00 0.00%
91+ DAYS 0 0.00% 0.00 0.00%
SEC. 4.03 (a) (x) LOANS THAT BECAME REO PROPERTY DURING REPORTING PERIOD: NONE
SEC. 4.03 (a) (xi) OUTSTANDING REO PROPERTIES NUMBER PRINCIPAL BAL MARKET VALUE
------ ------------- ------------
0 0.00 0.00
SEC. 4.03 (a) (xii) AMOUNTS WITHDRAWN FROM SPREAD ACCT
FOR DEPOSIT TO DISTRIBUTION ACCT 418,400.23
SEC. 4.03 (a) (xiii) MONTHLY SPREAD ACCT DEPOSIT AMOUNT --
SPREAD ACCT DEPOSIT PERCENTAGE 100%
SPREAD ACCT DEPOSIT AMOUNT --
SPREAD ACCT EXCESS 0.00
SEC. 4.03 (a) (xiv) SPREAD ACCT BALANCE AFTER DISTRIBUTION DATE 527,202.29
SEC. 4.03 (a) (xv) SPECIFIED SPREAD ACCT REQUIREMENT 2,571,040.16
[LOGO] CHASE (C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
ANNEX C
EQUITY ONE ABS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
PAGE #1
DISTRIBUTION: 27-Oct-97
RECORD DATE: 24-Oct-97
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 31,000,000.00 26,777,898.83 2,026,697.37 147,724.74 2,174,422.11 24,751,201.46
A-2 24,200,000.00 24,200,000.00 0.00 141,368.33 141,368.33 24,200,000.00
A-3 14,500,000.00 14,500,000.00 0.00 86,879.17 86,879.17 14,500,000.00
A-4 12,000,000.00 12,000,000.00 0.00 73,800.00 73,800.00 12,000,000.00
A-5 21,141,606.00 21,141,606.00 0.00 133,015.94 133,015.94 21,141,606.00
R N/A N/A 0.00 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------
TOTALS 102,841,606.00 98,619,504.83 2,026,697.37 582,788.18 2,609,485.55 96,592,807.46
- -----------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------- -------------------------
<S> <C> <C> <C> <C> <C> <C>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
ENDING
CUSIP PRINCIPAL INTEREST CERTIFICATE PASS
CLASS NUMBER DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE
- --------------------------------------------------------------------- ------------------------
A-1 294751 AAO 65.37733452 4.76531419 798.42585355 A-1 6.62000%
A-2 294751 AB8 0.00000000 5.84166653 1000.00000000 A-2 7.01000%
A-3 294751 AC6 0.00000000 5.99166690 1000.00000000 A-3 7.19000%
A-4 294751 AD4 0.00000000 6.15000000 1000.00000000 A-4 7.38000%
A-5 294751 AE2 0.00000000 6.29166677 1000.00000000 A-5 7.55000%
- --------------------------------------------------------------------- ------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR COMMENTS, PLEASE CONTACT THE ADMINISTRATOR
LISTED BELOW
---------------------------------------------------------
ARANKA PAUL
THE CHASE MANHATTAN BANK - STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3236
---------------------------------------------------------
[LOGO] CHASE (C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
EQUITY ONE ABS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1
STATEMENT TO CERTIFICATEHOLDERS
============================================================================================
DISTRIBUTION: 27-Oct-97 PAGE # 2
RECORD DATE: 24-Oct-97
<S> <C> <C> <C> <C>
SEC. 4.03 (a) (i) TOTAL PRINCIPAL DISTRIBUTION 2,026,697.37
SCHEDULED PRINCIPAL DUE 121,005.78
CURTAILMENTS 16,989.76
PAYOFFS 1,857,391.64
REPURCHASES PRINCIPAL BALANCE 0.00
LIQUIDATION PROCEEDS 0.00
LOAN LOSSES 0.00
SUBSTITUTE LOAN ADJUSTMENT AMOUNT 31,310.19
PRINCIPAL SHORTFALL 0.00
SEC. 4.03 (a) (ii) TOTAL INTEREST DISTRIBUTION
PREVIOUSLY CURRENT TOTAL
SCHEDULED UNPAID INTEREST INTEREST
INTEREST INTEREST SHORTFALL SHORTFALL
---------- ---------- --------- ---------
CLASS A-1 DISTRIBUTION 147,724.74 0.00 0.00 0.00
CLASS A-2 DISTRIBUTION 141,368.33 0.00 0.00 0.00
CLASS A-3 DISTRIBUTION 86,879.17 0.00 0.00 0.00
CLASS A-4 DISTRIBUTION 73,800.00 0.00 0.00 0.00
CLASS A-5 DISTRIBUTION 133,015.94 0.00 0.00 0.00
SEC. 4.03 (a) (iii) TOTAL SHORTFALL
ALLOC ALLOC
TO INT TO PRIN SHORTFALL
------ ------- ---------
CLASS A-1 DISTRIBUTION 0.00 0.00 0.00
CLASS A-2 DISTRIBUTION 0.00 0.00 0.00
CLASS A-3 DISTRIBUTION 0.00 0.00 0.00
CLASS A-4 DISTRIBUTION 0.00 0.00 0.00
CLASS A-5 DISTRIBUTION 0.00 0.00 0.00
SEC. 4.03 (a) (v) POOL SCHEDULED PRINCIPAL BALANCE 96,620,618.72
SEC. 4.03 (a) (vi) SERVICING FEES 40,579.39
SEC. 4.03 (a) (viii) ADVANCES INCLUDED IN CURRENT DISTRIBUTION 265,451.42
AGGREGATE AMOUNT OF ADVANCES OUTSTANDING 265,451.42
SEC. 4.03 (a) (ix) PERIOD NUMBER PERCENTAGE PRIN. BALANCE PERCENTAGE
------ ------ ---------- ------------- ----------
DELINQUENCIES 1 - 30 DAYS 236 20.94% 20,142,388.27 20.85%
30 - 60 DAYS 35 3.11% 2,629,750.78 2.72%
61 - 90 DAYS 7 0.62% 535,565.47 0.55%
91+ DAYS 0 0.00% 0.00 0.00%
FORECLOSURE 1 - 30 DAYS 0 0.00% 0.00 0.00%
30 - 60 DAYS 0 0.00% 0.00 0.00%
61 - 90 DAYS 0 0.00% 0.00 0.00%
91+ DAYS 2 0.18% 145,124.75 0.15%
SEC. 4.03 (a) (x) LOANS THAT BECAME REO PROPERTY DURING REPORTING PERIOD: NONE
SEC. 4.03 (a) (xi) OUTSTANDING REO PROPERTIES NUMBER PRINCIPAL BAL MARKET VALUE
------ ------------- ------------
0 0.00 0.00
SEC. 4.03 (a) (xii) AMOUNTS WITHDRAWN FROM SPREAD ACCT
FOR DEPOSIT TO DISTRIBUTION ACCT 0.00
SEC. 4.03 (a) (xiii) MONTHLY SPREAD ACCT DEPOSIT AMOUNT 122,061.59
SPREAD ACCT DEPOSIT PERCENTAGE 100%
SPREAD ACCT DEPOSIT AMOUNT 122,061.59
SPREAD ACCT EXCESS 0.00
SEC. 4.03 (a) (xiv) SPREAD ACCT BALANCE AFTER DISTRIBUTION DATE 649,263.88
SEC. 4.03 (a) (xv) SPECIFIED SPREAD ACCT REQUIREMENT 2,571,040.16
[LOGO] CHASE (C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------------------
</TABLE>
