DLJ COMMERCIAL MORTGAGE CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 2000-CF1
$799,832,000
(APPROXIMATE)
OFFERED CERTIFICATES
[LOGO COLUMN FINANCIAL]
DONALDSON, LUFKIN & JENRETTE
Goldman, Sachs & Co. Salomon Smith Barney
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
<PAGE>
TRANSACTION OFFERING:
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
INITIAL
AGGREGATE PERCENTAGE
PRINCIPAL OF INITIAL INITIAL
BALANCE OR MORTGAGE PASS- PASS-THROUGH WTD.
NOTIONAL POOL CREDIT THROUGH RATE AVG. MATURITY PRINCIPAL LEGAL SMMEA/
CLASS RATINGS(1) AMOUNT BALANCE SUPPORT RATE DESCRIPTION(3) LIFE(4) (4) WINDOW(4) STATUS ERISA(5)
----- ---------- ---------- ---------- ------- ------- -------------- ---- -------- ------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Publicly Offered Certificates:
A-1A AAA/AAA $ 96,065,000 10.84% 25.50% -- -- 5.7 8/09 7/00-8/09 Public Yes/Yes
A-1B AAA/AAA 564,184,000 63.66% 25.50% -- -- 9.6 5/10 8/09-5/10 Public Yes/Yes
A-2 AA/AA 44,312,000 5.00% 20.50% -- -- 9.9 5/10 5/10-5/10 Public Yes/No
A-3 A/A 39,881,000 4.50% 16.00% -- -- 9.9 5/10 5/10-5/10 Public No/No
A-4 A-/A- 13,294,000 1.50% 14.50% -- -- 9.9 5/10 5/10-5/10 Public No/No
B-1 BBB/BBB 31,018,000 3.50% 11.00% -- -- 9.9 6/10 5/10-6/10 Public No/No
B-2 BBB-/BBB- 11,078,000 1.25% 9.75% -- -- 9.9 6/10 6/10-6/10 Public No/No
S AAAr/AAA $886,241,440(2) N/A N/A -- -- 9.4 6/12 N/A Public Yes/Yes
Privately Offered Certificates(6):
B-3 -- -- -- -- -- -- -- -- -- Private-144A --
B-4 -- -- -- -- -- -- -- -- -- Private-144A --
B-5 -- -- -- -- -- -- -- -- -- Private-144A --
B-6 -- -- -- -- -- -- -- -- -- Private-144A --
B-7 -- -- -- -- -- -- -- -- -- Private-144A --
B-8 -- -- -- -- -- -- -- -- -- Private-144A --
C -- -- -- -- -- -- -- -- -- Private-144A --
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Standard & Poors Ratings Services / Fitch
(2) Notional amount. The class S certificates will be interest only and will
not entitle their holders to distributions of principal. The estimated
investment amount of the class S is $40MM.
(3) All of the classes shown in the table below are interest-bearing.
(4) Assumes 0% CPR, no defaults, no extensions and ARD Loans pay in full on
their anticipated repayment dates. Otherwise based on "Maturity
Assumptions" set forth in the prospectus supplement.
(5) Expected to be eligible for each of the underwriters' individual prohibited
transaction exemption under ERISA.
(6) Not offered herein. Privately offered certificates will also include a
class E and class R, neither of which has a principal balance or accrues
interest.
Originator Profile:
All of the mortgage loans were originated or acquired by Column Financial, Inc.
("Column"). Column, an indirect wholly owned subsidiary of Donaldson, Lufkin &
Jenrette, Inc., was established in August 1993. Column has originated
approximately 2,000 commercial mortgage loans totaling $9.74 billion since its
inception. Column sources, underwrites and closes various mortgage loan products
through 18 production offices located throughout the country. All of the
mortgage loans in this transaction were originated in either 1999 or 2000.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 2
<PAGE>
COLLATERAL OVERVIEW:
<TABLE>
<CAPTION>
<S> <C>
o Initial Mortgage Pool Balance: $886,241,440
o Average (mean) Cut-off Date
Principal Balance: $6,923,761
o Average (median) Cut-off Date
Principal Balance: $2,291,356
o Loans/Properties: 128 loans / 139 properties
o Property Type: Office (33.8%), Multifamily (30.4%), Retail (26.6%), Other (9.2%)
o Geographic Distribution: 31 States. CA (26.2%), TX (13.1%), NY (10.3%), Other (50.4%)
o Amortization Types: Balloon (90.8%), ARD (9.2%)
o Wtd. Avg. U/W DSCR: 1.32x
o Wtd. Avg. Cut-off Date
LTV Ratio: 68.7%
o Appraisals: 100% of the appraisals state that they follow the guidelines
set forth in Title XI of FIRREA.
o Largest Loan: 6.3%
o Five Largest Loans: 25.3%
o Ten Largest Loans: 42.6%
o Wtd. Avg. Remaining
Term to Maturity(1): 118 months
o Wtd. Avg. Seasoning: 3 months
o Gross WAC: 8.4010%
o Call Protection: All of the Mortgage Loans provide for a prepayment lockout
period ("Lockout") and a defeasance period ("Defeasance").
The remaining weighted average lockout and defeasance period
is 9.4 years.
o Defeasance: 100%
o Credit Tenant Lease: None
</TABLE>
(1) In the case of ARD Loans, the anticipated repayment date is assumed to be
the maturity date for the purpose of this analysis.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 3
<PAGE>
COLLATERAL OVERVIEW (CONTINUED):
<TABLE>
<CAPTION>
<S> <C>
o Participation Loans: None
o Loans with
Secured Subordinate Debt: None
o Leasehold: 17.5%
o Delinquency: None of the mortgage loans were 30 days or more delinquent
with respect to any monthly debt service payment as of June
1, 2000 or at any time during the 12-month period preceding
that date.
TRANSACTION OVERVIEW:
o Structure: Senior/subordinated, sequential pay pass-through certificates.
o Lead Manager: Donaldson, Lufkin & Jenrette Securities Corporation
o Co-Managers: Goldman, Sachs & Co. and Salomon Smith Barney Inc.
o Mortgage Loan Seller: Column Financial, Inc.
o Rating Agencies: Standard & Poors Ratings Services / Fitch
o Master Servicer: TBD
o Special Servicer: GMAC Commercial Mortgage Corporation
o Trustee: Norwest Bank Minnesota, National Association
o Cut-off Date: June 1, 2000
o Settlement Date: On or about June 29, 2000
o Payment Date: The 10th day of the month, or if such day is not a business
day, the following business day, but no sooner than the 4th
business day after the 4th day of the month.
o Delivery: The Depository Trust Company ("DTC") through Cede & Co. (in
the United States) or Clearstream Banking, societe anonyme
or The Euroclear System ("Euroclear") (in Europe).
o ERISA: Classes A-1A, A-1B and S are expected to be eligible for
each of the underwriters' individual prohibited transaction
exemptions with respect to ERISA, subject to certain
conditions of eligibility.
o SMMEA: Classes A-1A, A-1B, A-2 and S are expected to be SMMEA eligible.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 4
<PAGE>
TRANSACTION OVERVIEW (CONTINUED):
<TABLE>
<CAPTION>
<S> <C>
o Tax Treatment: REMIC
o Servicer Option to
Terminate Trust: 1%
o Analytics: Cashflows are expected to be available through Bloomberg,
the Trepp Group, Intex Solutions and Charter Research.
o Extensions: The special servicer will be responsible for performing
various functions with respect to mortgage loans in the
trust that, in general, are in default or as to which
default is imminent, and for administering any REO
properties. The pooling and servicing agreement will
generally permit the special servicer to modify, waive or
amend any term of any mortgage loan if it determines, in
accordance with the servicing standard, that it is
appropriate to do so. The special servicer will not be
permitted to grant any extension of the maturity of a
mortgage loan beyond 60 months after its stated maturity
date.
o Controlling Class: The controlling class of series 2000-CF1 certificateholders
may advise, through a representative, and appoint a special
servicer and replace the existing special servicer. In
general, the controlling class will be the most subordinate
class of certificates which has a current total principal
balance no less than 25% of its original total principal
balance.
o Advances: The master servicer will be obligated to make advances of
scheduled principal and interest payments, excluding balloon
payments, subject to recoverability determination and
appraisal reductions. If the master servicer fails to make a
required P & I advance and the trustee is aware of the
failure, the trustee will be obligated to make that advance.
o Appraisal Reductions: In general, an Appraisal Reduction Amount generally will be
the amount, if any, by which the Stated Principal Balance of
a specially serviced mortgage loan, plus other amounts
overdue in connection with that loan, exceeds 90% of the
appraised value of the related mortgaged real property. Any
resulting Appraisal Reduction Amount will reduce
proportionately the interest portion, but not the principal
portion, of any amount of P&I advances for the loan, which
reduction will likely result in a reduction of interest
distributable to the most subordinate interest-bearing class
of series 2000-CF1 certificates outstanding. In general, an
Appraisal Reduction Amount will be reduced to zero as of the
date the related mortgage loan has been brought current for
at least three consecutive months, paid in full, liquidated,
repurchased, or otherwise disposed of. Appraisal Reduction
Amounts will not effect class sizes for the purposes of
determining the series 2000-CF1 controlling class.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 5
<PAGE>
STRUCTURE DESCRIPTION:
[Graphic Representation]
Based on the "Maturity Assumptions" set forth in the Prospectus Supplement and a
0% CPR (except ARD Loans paid in full on their respective anticipated repayment
dates).
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 6
<PAGE>
INTEREST DISTRIBUTIONS:
Each interest-bearing class of series 2000-CF1 certificates will be entitled on
each payment date to interest accrued at its pass-through rate on the total
principal balance or notional amount of that class outstanding immediately prior
to the related payment date. The pass-through rate for the class S certificates
for each payment date will be the difference between the weighted average net
coupon of the collateral and the weighted average pass-through rate of the other
interest-bearing classes of series 2000-CF1 certificates. All classes will pay
interest on a 30/360 basis.
PRINCIPAL DISTRIBUTIONS:
Available principal will be paid on each payment date to the following classes
of series 2000-CF1 certificates in the following sequential order: class A-1A,
A-1B, A-2, A-3, A-4, B-1, B-2, B-3, B-4, B-5, B-6, B-7, B-8 and C (the
"Principal Balance Certificates"). However, if classes A-2 through C have been
retired as a result of losses and additional trust fund expenses, classes A-1A
and A-1B will receive principal on a pro-rata basis.
REALIZED LOSSES AND EXPENSE(S):
Realized losses from any mortgage loan in the trust and additional trust fund
expenses will be allocated to the outstanding classes of Principal Balance
Certificates in the following sequential order: class C, B-8, B-7, B-6, B-5,
B-4, B-3, B-2, B-1, A-4, A-3 and A-2. If Classes A-2 through C have been reduced
to $0 by losses and additional trust fund expenses, future losses and additional
trust fund expenses shall be applied to classes A-1A and A-1B pro-rata.
CREDIT ENHANCEMENTS:
Credit enhancement for each class of publicly registered certificates of series
2000-CF1 will be provided by the classes of series 2000-CF1 certificates which
are subordinate in priority with respect to payments of interest and principal.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 7
<PAGE>
STRATIFICATION:
[GRAPHICAL PRESENTATION MAP]
MORTGAGED REAL PROPERTIES BY STATE
<TABLE>
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
STATE PROPERTIES BALANCE BALANCE RATE U/W DSCR LTV RATIO
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
California(1) 19 $ 232,031,565 26.2% 8.8167% 1.27x 71.7%
Northern California 10 137,868,441 15.6% 8.2007% 1.26 72.4%
Southern California 9 94,163,124 10.6% 8.1772% 1.28 71.1%
Texas 38 116,093,219 13.1% 8.6181% 1.28 73.8%
New York 4 91,332,688 10.3% 8.6892% 1.55 44.8%
Connecticut 5 60,664,739 6.8% 8.3151% 1.49 64.5%
Florida 8 49,697,728 5.6% 8.3461% 1.28 75.2%
Michigan 4 49,298,964 5.6% 8.2335% 1.21 75.1%
Massachusetts 6 39,816,129 4.5% 8.3078% 1.27 72.2%
Arizona 2 31,043,590 3.5% 8.2360% 1.37 71.7%
Illinois 3 27,979,234 3.2% 8.6124% 1.33 65.3%
New Hampshire 1 24,733,770 2.8% 8.2200% 1.26 74.5%
Indiana 2 21,982,549 2.5% 8.5270% 1.34 68.6%
Washington 2 17,992,952 2.0% 8.3593% 1.25 70.1%
Missouri 1 17,199,049 1.9% 8.5300% 1.27 65.9%
Georgia 4 16,995,679 1.9% 8.5488% 1.38 66.1%
New Jersey 5 14,244,471 1.6% 8.7287% 1.36 68.4%
Virginia 3 13,385,742 1.5% 8.3818% 1.35 69,9%
Colorado 5 12,156,589 1.4% 8.3509% 1.29 75.9%
Alabama 3 10,549,890 1.2% 8.5627% 1.29 76.6%
Ohio 3 8,230,855 0.9% 8.3943% 1.36 68.3%
Louisiana 4 5,822,133 0.7% 8.6498% 1.27 74.9%
Nevada 1 4,778,052 0.5% 8.6500% 1.27 74.7%
Minnesota 2 4,359,290 0.5% 8.7320% 1.31 66.1%
New Mexico 1 3,598,466 0.4% 8.1400% 1.33 79.5%
Pennsylvania 4 2,894,522 0.3% 9.1531% 1.26 75.3%
Tennessee 2 2,655,805 0.3% 8.6507% 1.25 73.9%
Maryland 2 2,494,959 0.3% 9.0550% 1.35 56.6%
Maine 1 1,485,539 0.2% 8.4900% 1.30 78.2%
Wisconsin 1 978,243 0.1% 9.3600% 1.25 62.1%
Oklahoma 1 619,318 0.1% 9.1200% 1.36 75.1%
Kentucky 1 616,951 0.1% 8.8200% 1.31 65.6%
Nebraska 1 508,762 0.1% 8.7500% 1.23 72.7%
--------------------------------------------------------------------------------
Total Weighted Average 139 $ 886,241,440 100% 8,4010% 1.32x 68.7%
================================================================================
</TABLE>
(1) Southern California consists of mortgaged real properties in California zip
codes less than or equal to 93600. Northern California consists of
mortgaged real properties in California zip codes greater than 93600.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 8
<PAGE>
[GRAPHIC PRESENTATION CHART]
MORTGAGE REAL PROPERTIES BY PROPERTY TYPE
<TABLE>
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
PROPERTY TYPE PROPERTIES BALANCE BALANCE RATE U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Office 17 $ 299,573,861 33.8% 8.4527% 1.41x 61.1%
Multifamily 73 269,475,602 30.4% 8.4047% 1.27 72.9%
Retail 30 236,025,556 26.6% 8.2615% 1.28 72.5%
Manufactured Housing 10 44,740,108 5.0% 8.6720% 1.28 73.6%
Industrial 6 15,353,421 1.7% 8.4558% 1.31 70.1%
Mixed Use 2 11,407,786 1.3% 8.4413% 1.26 72.6%
Hotel 1 9,675,107 1.1% 8.7100% 1.40 68.1%
------------------------------------------------------------------------------------
Total/Weighted Average: 139 $ 886,241,440 100% 8.4010% 1.32x 68.7%
====================================================================================
MORTGAGED REAL PROPERTIES BY PROPERTY SUB-TYPE
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
PROPERTY REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
PROPERTY TYPE SUB-TYPE PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Retail
Anchored (1) 22 $ 220,319,723 24.9% 8.2329% 1.27x 72.8%
Unanchored 8 15,705,833 1.8% 8.6626% 1.41 68.5%
----------------------------------------------------------------------------------------
Total/Weighted Average: 30 $ 236,025,556 26.6% 8.2615% 1.28x 72.5%
========================================================================================
(1) Includes shadow anchored properties.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 9
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL AMORTIZATION TERMS
WEIGHTED
RANGE OF NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
ORIGINAL UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
AMORTIZATION MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
TERMS(MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
240 - 290 2 $ 1,459,267 0.2% 8.6000% 1.47x 59.5%
291 - 300 15 42,243,535 4.8% 8.6271% 1.37 66.9%
301 - 360 111 842,538,638 95.1% 8.3893% 1.32 68.8%
-------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM ORIGINAL AMORTIZATION TERM (MONTHS): 360
MINIMUM ORIGINAL AMORTIZATION TERM (MONTHS): 240
WTD. AVG. ORIGINAL AMORTIZATION TERM (MONTHS): 357
ORIGINAL TERMS TO STATED MATURITIY (1)
<CAPTION>
WEIGHTED
RANGE OF NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
ORIGINAL TERMS UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
TO STATED MATURITY MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
(MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
60 - 100 5 $ 3,689,203 0.4% 9.0955% 1.31x 75.2%
101 - 120 122 841,052,237 94.9% 8.3763% 1.32 69.9%
121 - 144 1 41,500,000 4.7% 8.8400% 1.33 45.1%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM ORIGINAL TERM TO STATED MATURITY (MONTHS): 144
MINIMUM ORIGINAL TERM TO STATED MATURITY (MONTHS): 60
WTD. AVG. ORIGINAL TERM TO STATED MATURITY (MONTHS): 121
(1) In the case of ARD Loans, the anticipated repayment date is assumed to be
the maturity date for the purposes of the foregoing table.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 10
<PAGE>
<TABLE>
<CAPTION>
REMAINING AMORTIZATION TERMS
WEIGHTED
RANGE OF NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
REMAINING UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
AMORTIZATION MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
TERMS(MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
233 - 290 2 $ 1,459,267 0.2% 8.6000% 1.47x 59.5%
291 - 350 18 80,278,519 9.1% 8.3138% 1.32 71.6%
351 - 360 108 804,503,654 90.8% 8.4093% 1.32 68.5%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM REMAINING AMORTIZATION TERM (MONTHS): 360
MINIMUM REMAINING AMORTIZATION TERM (MONTHS): 233
WTD. AVG. REMAINING AMORTIZATION TERM (MONTHS): 354
REMAINING TERMS TO STATED MATURITIY (1)
<CAPTION>
WEIGHTED
RANGE OF NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
REMAINING TERMS UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
TO STATED MATURITY MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
(MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
58 - 99 5 $ 3,689,203 0.4% 9.0955% 1.31x 75.2%
100 - 120 122 841,052,237 94.9% 8.3763% 1.32 69.9%
121 - 144 1 41,500,000 4.7% 8.8400% 1.33 45.1%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM REMAINING TERM TO STATED MATURITY (MONTHS): 144
MINIMUM REMAINING TERM TO STATED MATURITY (MONTHS): 58
WTD. AVG. REMAINING TERM TO STATED MATURITY (MONTHS): 118
(1) In the case of ARD Loans, the anticipated repayment date is assumed to be
the maturity date for the purposes of the foregoing table.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 11
<PAGE>
<TABLE>
<CAPTION>
UNDERWITTEN DEBT SERVICE COVERAGE RATIOS
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RAGNE OF MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
U/W DSCRx LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1.20x - 1.21 12 $ 69,954,149 7.9% 8.2595% 1.20x 76.5%
1.22 - 1.23 11 105,158,311 11.9% 8.3546% 1.23 74.5%
1.24 - 1.25 22 99,279,989 11.2% 8.4070% 1.25 72.0%
1.26 - 1.27 19 133,611,391 15.1% 8.4733% 1.26 72.7%
1.28 - 1.29 16 154,789,890 17.5% 8.1879% 1.38 72.6%
1.30 - 1.39 30 183,539,895 20.7% 8.5567% 1.34 64.3%
1.40 - 2.14x 18 139,907,815 15.8% 8.4647% 1.60 56.1%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM U/W DSCR: 2.14x
MINIMUM U/W DSCR: 1.20x
WTD. AVG. U/W.DSCR: 1.32x
CUT-OFF DATE LOAN-TO-VALUE RATIOS
<CAPTION>
WEIGHTED
RANGE OF NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
CUT-OFF DATE UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
LOAN-TO VALUE MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
RATIOS LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29.40% - 55.00% 8 $ 92,111,768 10.4% 8.6893% 1.60x 41.5%
55.10% - 65.00% 10 98,232,260 11.1% 8.4220% 1.43 64.2%
65.10% - 67.50% 13 62,054,599 7.0% 8.6227% 1.33 66.1%
67.60% - 70.00% 11 108,383,791 12.2% 8.2183% 1.29 68.9%
70.10% - 72.50% 13 110,642,359 12.5% 8.3859% 1.28 71.4%
72.60% - 75.00% 31 225,070,571 25.4% 8.4075% 1.27 74.0%
75.10% - 77.50% 18 100,376,167 11.3% 8.3379% 1.23 76.4%
77.60% - 78.50% 11 56,292,569 6.4% 8.0958% 1.23 77.8%
78.60% - 79.50% 5 8,711,256 1.0% 8.3745% 1.30 79.1%
79.60% - 80.00% 8 24,366,100 2.7% 8.4570% 1.28 79.8%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM CUT-OFF DATE LTV RATIO: 80.0%
MINIMUM CUT-OFF DATE LTV RATIO: 29.4%
WTD. AVG. CUT-OFF DATE LTV RATIO: 68.7%
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 12
<PAGE>
<TABLE>
<CAPTION>
CUT-OFF DATE PRINCIPAL BALANCES
WEIGHTED
RANGE OF NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
CUT-OFF DATE UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
PRINCIPAL MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
BALANCES LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
$ 387,652 - 500,000 6 $ 2,797,317 0.3% 8.8920% 1.44x 63.9%
500,001 - 750,000 12 7,378,700 0.8% 8.9740% 1.32 72.5%
750,001 - 1,000,000 10 8,783,096 1.0% 8.9506% 1.27 71.5%
1,000,001 - 1,250,000 9 10,219,127 1.2% 8.7465% 1.25 76.0%
1,250,001 - 1,500,000 8 11,477,041 1.3% 8.7052% 1.45 64.5%
1,500,001 - 1,750,000 7 11,181,653 1.3% 8.7531% 1.30 71.4%
1,750,001 - 2,000,000 7 13,279,450 1.5% 8.6330% 1.32 70.9%
2,000,001 - 3,000,000 12 29,227,344 3.3% 8.6045% 1.29 73.6%
3,000,001 - 4,000,000 8 28,681,682 3.2% 8.5008% 1.29 71.5%
4,000,001 - 5,000,000 7 32,476,259 3.7% 8.3472% 1.37 69.3%
5,000,001 - 6,000,000 3 16,341,214 1.8% 8.4138% 1.33 72.8%
6,000,001 - 8,500,000 10 74,517,905 8.4% 8.3231% 1.28 72.9%
8,500,001 - 9,500,000 4 35,738,565 4.0% 8.3452% 1.24 73.8%
9,500,001 - 10,000,000 3 29,267,662 3.3% 8.5252% 1.31 69.1%
10,000,001 - 11,250,000 1 11,130,000 1.3% 8.8400% 1.26 73.0%
11,250,001 - 12,000,000 2 23,487,035 2.7% 8.07695 1.24 75.2%
12,000,001 - 19,500,000 7 113,959,641 12.9% 8.4589% 1.29 70.5%
19,500,000 - 34,500,000 6 165,547,123 18.7% 8.3242% 1.27 72.5%
34,500,001 - $ 55,941,966 6 260,780,628 29.4% 8.3291% 1.41 61.2%
-------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM CUT-OFF DATE PRINCIPAL BALANCE: $ 55,941,966
MINIMUM CUT-OFF DATE PRINCIPAL BALANCE: $ 387,652
WTD. AVG. CUT-OFF DATE PRINCIPAL BALANCE: % 6,923,761
UNDERLYING MORTGAGE LOANS BY AMORTIZATION TYPE
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
LOAN TYPE LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Ballon 123 $ 805,139,830 90.8% 8.4195% 1.33x 68.7%
ARD 5 81,101,610 9.2% 8.2168% 1.28 69.4%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 13
<PAGE>
<TABLE>
<CAPTION>
MORTGAGE INTEREST RATES
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
MORTGAGE MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
INTEREST RATES LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7.6600% - 7.7500% 1 $ 4,974,952 0.6% 7.6600% 1.75x 45.2%
7.7510% - 8.0000% 2 43,296,477 4.9% 7.9092% 1.21 77.1%
8.0010% - 8.2500% 20 278,019,570 31.4% 8.1449% 1.28 73.0%
8.2510% - 8.5000% 32 248,399,236 28.0% 8.3735% 1.32 70.9%
8.5010% - 8.7500% 29 199,428,297 22.5% 8.6337% 1.42 63.1%
8.7510% - 9.0000% 25 93,548,449 10.6% 8.8548% 1.31 59.7%
9.0010% - 9,2500% 15 15,889,551 1.8% 9.1222% 1.34 69.7%
9.2510% - 9.6600% 4 2,684,909 0.3% 9.4066% 1.24 70.4%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MAXIMUM MORTGAGE INTEREST RATE: 9.6600%
MINIMUM MORTGAGE INTEREST RATE: 7.6600%
WTD. AVG. MORTGAGE INTEREST RATE: 8.4010%
OCCUPANY RATES AT UNDERWRITING (1)
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF UNDERYLING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
OCCUPANCY MORTGAGE PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
RATES AT U/W LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
81.0% - 84.9% 3 $ 12,397,354 1.4% 8.5881% 1.28x 66.6%
85.0% - 89.9% 11 50,329,785 5.7% 8.5729% 1.26 70.1%
90.0% - 94.9% 27 189,161,946 21.3% 8.4019% 1.34 70.1%
95.0% - 97.4% 27 159,881,283 18.0% 8.5368% 1.30 66.2%
97.5% - 100.0% 70 464,795,966 52.4% 8.3239% 1.33 69.0%
-------------------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 138 $ 876,566,334 98.9% 8.3976% 1.32x 68.7%
===============================================================================
</TABLE>
MAXIMUM OCCUPANCY RATE AT U/W: 100.0%
MINIMUM OCCUPANY RATE AT U/W: 81.0%
WTD. AVG. OCCUPANY RATE AT U/W: 96.3%
(1) Does not include the hotel property.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 14
<PAGE>
<TABLE>
<CAPTION>
YEARS BUILT/YEARS RENOVATED (1)
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
YEARS REAL PRINICPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
BUILT/RENOVATED PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1967 - 1970 4 $ 7,690,006 0.9% 8.7735% 1.27x 71.7%
1971 - 1980 5 10,373,533 1.2% 8.6090% 1.27 74.0%
1981 - 1990 38 241,031,348 27.2% 8.3795% 1.33 71.1%
1991 - 1999 92 627,146,553 70.8% 8.4012% 1.32 67.7%
-------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 139 $ 886,241,440 100.0% 8.4010% 1.32x 68.7%
===============================================================================
MOST RECENT YEAR BUILT/RENOVATED: 1999
OLDEST YEAR BUILT/RENOVATED: 1967
WTD. AVG. YEAR BUILT/RENOVATED: 1995
</TABLE>
(1) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
MORTGAGE POOL PREPAYMENT PROFILE(1)
<TABLE>
<CAPTION>
NUMBER OF
UNDERLYING
MONTHS SINCE MORTGAGE OUTSTANDING $ OF POOL % OF POOL
DATE CUT-OFF DATE LOANS BALANCE(mm) LOCKOUT OPEN TOTAL
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Jun-00 0 128 $ 886.2 100.00% 0.00% 100.0%
Jun-01 12 128 $ 880.4 100.00% 0.00% 100.0%
Jun-02 24 128 $ 873.9 100.00% 0.00% 100.0%
Jun-03 36 128 $ 866.7 100.00% 0.00% 100.0%
Jun-04 48 128 $ 859.1 100.00% 0.00% 100.0%
Jun-05 60 124 $ 848.0 100.00% 0.00% 100.0%
Jun-06 72 124 $ 838.7 100.00% 0.00% 100.0%
Jun-07 84 123 $ 827.7 100.00% 0.00% 100.0%
Jun-08 96 123 $ 817.0 100.00% 0.00% 100.0%
Jun-09 108 123 $ 805.1 91.45% 8.55% 100.0%
Jun-10 120 1 $ 37.8 100.00% 0.00% 100.0%
Jun-11 132 1 $ 37.2 100.00% 0.005 100.0%
</TABLE>
(1) Calculated assuming that no Mortgage Loan prepays, defaults or is
repurhcased prior to stated maturity, except that the ARD Loans are assumed to
pay in full on their respective anticipated repayment dates. Otherwise
calculated based on Maturity Assumptions to be set forth in the final prospectus
supplement.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 15
<PAGE>
<TABLE>
<CAPTION>
PREPAYMENT PROVISION AS OF CUT-OFF DATE
WEIGHTED
AVERAGE
NUMBER OF PERCENTAGE OF REMAINING WEIGHTED
RANGE OF UNDERLYING CUT-OFF DATE INITIAL LOCKOUT AVERAGE
REMAINING TERMS TO MORTGAGE PRINCIPAL MORTGAGE POOL PERIOD MATURITY
STATED MATURITY(YEARS)(1) LOANS BALANCE BALANCE (YEARS) (YEARS)(1)
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
4.0 - 4.9 4 $ 2,707,822 0.3% 4.3 4.8
6.0 - 6.9 1 981,381 0.1% 6.0 6.5
9.0 - 9.9 115 766,092,237 86.4% 9.2 9.7
10.0 - 10.9 7 74,960,000 8.5% 9.6 10.0
12.0 - 12.9 1 41,500,000 4.7% 11.8 12.0
-------------------------------------------------------------------
TOTAL WEIGHTED AVERAGE 128 $ 886,241,440 100.0% 9.4 9.8
===================================================================
(1) In the case of the ARD Loans, the anticipated repayment date is assumed to
be the maturity date for the purposes of the foregoing table.
PREPAYMENT OPTION
<CAPTION>
WEIGHTED
AVERAGE
NUMBER OF PERCENTAGE OF REMAINING WEIGHTED
UNDERLYING CUT-OFF-DATE INITIAL LOCKOUT AVERAGE
MORTGAGE PRINCIPAL MORTGAGE POOL PERIOD MATURITY
PREPAYMENT OPTION LOANS BALANCE BALANCE (YEARS) (YEARS)(1)
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Lockout/Defeasance 128 $ 886,241,440 100.0% 9.4 9.8
----------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 128 $ 886,241,440 100.0% 9.4 9.8
======================================================================
</TABLE>
(1) In the case of the ARD Loans, the anticipated repayment date is assumed to
be the maturity date for the purposes of the foregoing table.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 16
<PAGE>
SIGNIFICANT MORTGAGE LOANS
<TABLE>
<CAPTION>
PERCENTAGE OF
PROPERTY UNITS/ CUT-OFF DATE INITIAL MORTGAGE APPRAISED
# LOAN NAME TYPE SQUARE FEET PRINCIPAL BALANCE POOL BALANCE VALUE
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1) Connecticut Financial Center Office 456,757 $ 55,941,966 6.3% $ 86,100,000
------------------------------------------------------------------------------------------------------------------------------------
2) Presidio Apartments Multifamily 432 48,944,982 5.5% 70,500,000
------------------------------------------------------------------------------------------------------------------------------------
3) 77 Water Street Office 547,330 41,500,000 4.7% 92,000,000
------------------------------------------------------------------------------------------------------------------------------------
4) 777 3rd Avenue Office 571,753 40,000,000 4.5% 108,000,000
------------------------------------------------------------------------------------------------------------------------------------
5) Baldwin Commons Retail 327,844 37,984,176 4.3% 49,500,000
------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE $ 224,371,124 25.3% $ 406,100,000
=========================================================
<CAPTION>
MORTGAGE INTEREST CUT-OFF DATE
# LOAN NAME RATE U/W DSCR LTV RATIO
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1) Connecticut Financial Center 8.3000% 1.50x 65.0%
--------------------------------------------------------------------------------------------------
2) Presidio Apartments 8.0051% 1.28 69.4%
--------------------------------------------------------------------------------------------------
3) 77 Water Street 8.8400% 1.33 45.1%
--------------------------------------------------------------------------------------------------
4) 777 3rd Avenue 8.6400% 1.84 37.0%
--------------------------------------------------------------------------------------------------
5) Baldwin Commons 8.2000% 1.20 76.7%
--------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 8.3790% 1.43x 59.3%
=================================================
</TABLE>
[PHOTO] [PHOTO]
Connecticut Financial Center Presidio Apartments
[PHOTO]
777 3rd Avenue
[PHOTO] [PHOTO]
77 Water Street Baldwin Commons
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 17
<PAGE>
CONNECTICUT FINANCIAL CENTER
[PHOTO]
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 18
<PAGE>
CONNECTICUT FINANCIAL CENTER
LOAN INFORMATION
--------------------------------------------------------------------------------
Cut-off Date Principal Balance: $55,941,966
% of Initial Mortgage Pool Balance: 6.3%
Mortgage Loan Seller: Column Financial, Inc.
Mortgage Interest Rate: 8.3000%
Balloon Term: 10 years
Amortization Term: 30 years
Call Protection: Prepayment Lockout; US Treasury
defeasance permitted as of the 2 year
anniversary of the date of initial
issuance of the offered certificates
Cut-off Date LTV Ratio: 65.0%
Maturity/ARD LTV Ratio: 58.6%
U/W DSCR: 1.50x
Cross Collateralization/Default: No/No
Special Provisions: Cash Management
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
Single Asset/Portfolio: Single Asset
Property Type: Office
Location: New Haven, CT
Years Built/Renovated: 1990
Collateral: 456,757 square foot Class "A", multi-
tenanted office building
Property Management: Chase Management, LLC
Underwritten Net Cash Flow: $7,614,712
Appraised Value: $86,100,000
Appriaisal Date: September 15, 1999
Occupancy Rate at U/W: 90%
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION:
Subject property is a 27-story, 456,757 square foot, Class "A", multi-tenanted
office building that includes ground-level retail space and a nine-level parking
garage, located in New Haven, CT. The subject overlooks Yale University and is
adjacent to the New Haven City Hall and the United States Courthouse. The United
Illuminating Company (S&P rated BBB+), a regional utility company, is the
largest tenant, occupying 47.8% of the net rentable area with two leases
expiring in 2012. Subject property rent roll also includes Fleet Bank (S&P rated
A+) and Merrill Lynch & Co., Inc. (S&P rated AA-) as tenants. The borrowing
entity has a leasehold interest in the subject property under a 125-year ground
lease agreement with the City of New Haven that will expire in 2111.
The borrowing entity is 157 Church, LLC, an SPE 100% owned by Chase Enterprises
("Chase"), a leading property owner specializing in the management, leasing,
acquisition and development of office, retail and residential properties,
focusing on the Northeast and Southeast regions of the United States. Founded in
1952, Chase has developed, owned and managed over 3.6 million square feet of
office buildings, 2.5 million square feet of retail shopping centers and 9,181
residential units.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 19
<PAGE>
PRESIDIO APARTMENTS
[PHOTO]
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 20
<PAGE>
PRESIDIO APARTMENTS
LOAN INFORMATION
--------------------------------------------------------------------------------
Cut-off Date Principal Balance: $48,944,982
% of Initial Mortgage Pool Balance: 5.5%
Mortgage Loan Seller: Column Financial, Inc.
Mortgage Interest Rate: 8.0051%
Term to Anticipated Repayment Date: 10 years
Amortization Term: 30 years
Call Protection: Prepayment Lockout; US Treasury
defeasance permitted as of the 2 year
anniversary of the date of initial
issuance of the offered certificates
Cut-off Date LTV Ratio: 69.4%
Maturity/ARD LTV Ratio: 62.2%
U/W DSCR: 1.28x
Cross Collateralization/Default: No/No
Special Provisions: Cash Management;
Hyper-Amortization
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
Single Asset/Portfolio: Single Asset
Property Type: Multifamily
Location: Fremont, CA
Years Built/Renovated: 1998
Collateral: 432-unit Class "A", garden-style
multifamily complex
Property Management: M.H. Podell Company
Underwritten Net Cash Flow: $5,522,663
Appraised Value: $70,500,000
Appraisal Date: April 18, 2000
Occupancy Rate at U/W: 98%
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION:
Subject is a 432-unit, Class "A", garden-style multifamily apartment complex
constructed in phases between 1997 and 1998 on an 18.31-acre site in Fremont,
CA, located in the region known as "Silicon Valley." Subject is 1/4 mile from
the Fremont BART commuter rail station. Subject unti mix includes 180 1BR/1BA
and 252 2BR/2BA apartments. Subject amenities include an indoor swimming pool,
jacuzzi, recreation building, mature landscaping and carport parking. Some units
at the property feature mountain views.
The loan was orginated by The Capital Company of America and subsequently
purchased by Column. At the time of loan acquisition, Column performed real
estate and legal due diligence in accordance with their standard loan
origination policies and procedures. In connection with the issuance of the
series 2000-CF1 certificates, Column will make customary representations and
warranties with respect to the Presidio Apartments loan.
The borrowing entity is The Presidio LLC, an SPE whose members include
Mapletree, LLC (71.2% interest), Nick Podell Revocable Trust (27.8% interest)
and Infantry Corporation (1% interest). The principals of Borrower are owned by
members of the Podell family. M.H. Podell Company, which developed the subject
property, has been building and managing large institutional quality apartment
complexees in the Silicon Valley region for the past 31 years. Subject property
manger, Nicholas A. Stevens Company, a subidiary of M.H. Podell Company,
currently manages 7 large multifamily properties totaling approximately 1,700
unios throughout the San Francisco Bay Area.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 21
<PAGE>
77 Water Street
[PHOTO]
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 22
<PAGE>
77 WATER STREET
LOAN INFORMATION
--------------------------------------------------------------------------------
Cut-off Date Principal Balance: $41,500,000
% of Initial Mortgage Pool Balance: 4.7%
Mortgage Loan Seller: Column Financial, Inc.
Mortgage Interest Rate: 8.8400%
Balloon Term: 12 years
Amortization Term: 30 years
Call Protection: Prepayment Lockout; US Treasury
defeasance permitted as of the 2 year
anniversary of the date of initial
issuance of the offered certificates
Cut-off Date LTV Ratio: 45.1%
Maturity/ARD LTV Ratio: 39.8%
U/W DSCR: 1.33x
Cross Collateralization/Default: No/No
Special Provisions: Cash Management
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
Single Asset/Portfolio: Single Asset
Property Type: Office
Location: New York, NY
Years Built/Renovated: 1970/1998
Collateral: 547,330 square foot Class "A", multi-
tenanted office building
Property Management: Sage Realty Corporation
Underwritten Net Cash Flow: $5,267,965
Appraised Value: $92,000,000
Appraisal Date: November 1, 1999
Occupancy Rate at U/W: 100%
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION:
Subject property is a 26-story, 547,330 square foot, Class "A", multi-tenanted
office building located in the Financial District of downtown Manhattan,
constructed in 1970 and renovated in 1998. Reliance Insurance Company,
headquartered at the subject, is the largest tenant and occupied 54% of the net
rentable area with a lease expiring February 29, 2012. Reliance Insurance
Company is subject to an acquistion by insurer Leucadia National Corp., (S&P
rated A-). Financial companies such as A.G. Edwards & Sons, Citicorp North
America, Inc., (S&P rated AA-), and Morgan Stanley Dean Witter and Co.(S&P rated
AA-), are other major tenants at the subject property. The borrowing entity has
a leasehold interest in the subject property under a ground lease with Water
Street Fee LLC that will expire December 31, 2040 (there are 3 successive
renewal options of 15 years, 15 years and 12 years, respectively, creating an
effective ground lease that expires in 2082).
The borrowing entity is Water Street Leasehold LLC, an SPE whose members include
W-Water Lease LLC (50% interest/managing member) and St. Paul Fire and Marine
Insurance (50% interest/member, S&P rate AA). Principals of Water Street
Leasehold LLC, Melvyn Kaufman and Robert Kaufman actively control the borrowing
entity through the William Kaufman Organization ("WKO") and the subject property
manager, Sage Realty Corporation ("Sage"). WKO was founded in 1924 by William
Kaufman, father to Melvyn Kaufman and Robert Kaufman. Today, WKO is one of the
nation's major family owned real estate development concerns. Sage currently
manages over 2.7 million square feet of office space in Manhattan.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 23
<PAGE>
777 3rd Avenue
[PHOTO]
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 24
<PAGE>
777 3RD AVENUE
LOAN INFORMATION
--------------------------------------------------------------------------------
Cut-off Date Principal Balance: $40,000,000
% of Initial Mortgage Pool Balance: 4.5%
Mortgage Loan Seller: Column Financial, Inc.
Mortgage Interest Rate: 8.6400%
Balloon Term: 10 years
Amortization Term: 30 years
Call Protection: Prepayment Lockout; US Treasury
defeasance permitted as of the 2 year
anniversary of the date of initial
issuance of the offered certificates
Cut-off Date LTV Ratio: 37.0%
Maturity/ARD LTD Ratio: 33.6%
U/W DSCR: 1.84x
Cross Collateralization/Default: No/No
Special Provisions: Cash Management
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
Single Asset/Portfolio: Single Asset
Property Type: Office
Location: New York, NY
Years Built/Renovated: 1963/1998
Collateral: 571,753 square foot Class "A", multi-
tenanted office building
Property Management: Sage Realty Corporation
Underwritten Net Cash Flow: $6,870,731
Appraised Value: $108,000,000
Appraisal Date: November 1, 1999
Occupancy Rate at U/W: 100%
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION:
Subject property is a 38-story, 571,753 square foot, Class "A", multi-tenanted
office building located in Mid-Town Manhattan, constructed in 1963 and renovated
in 1998. The property is occupied with a stable tenant profile. Grey
Advertising, Inc., headquartered at the subject, is the largest tenant and
occupies 71% of the net rentable area. Grey Advertising, founded in 1917, is one
of the largest advertising agencies in the United States. The borrowing entity
has a leasehold interest in the subject property under a ground lease with 7
Third Avenue Fee LLC that will expire December 31, 2070.
The borrowing entity is 7 Third Avenue Leasehold LLC, an SPE whose members
include W-7 Third Lease LLC (25.5% interest/managing member), Atlantic 777 Lease
LLC (25.0% interest/member) and St. Paul Fire and Marine Insurance (49.5%
interest/member, S&P rated AA). Principals of 7 Third Avenue Leasehold LLC,
Melvyn Kaufman and Robert Kaufman actively control the Borrowing entity through
the William Kaufman Organization ("WKO") and the subject property manager, Sage
Realty Corporation ("Sage"). WKO was founded in 1924 by William Kaufman, father
to Melvyn Kaufman and Robert Kaufman. Today, WKO is one of the nation's major
family owned real estate development concerns. Sage currently manages over 2.7
million square feet of office space in Manahattan.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 25
<PAGE>
BALDWIN COMMONS
[PHOTO]
[PHOTO]
[PHOTO]
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 26
<PAGE>
BALDWIN COMMONS
LOAN INFORMATION
--------------------------------------------------------------------------------
Cut-off Date Principal Balance: $37,984,176
% of Initial Mortgage Pool Balance: 4.3%
Mortgage Loan Seller: Column Financial, Inc.
Mortgage Interest Rate: 8.2000%
Balloon Term: 10 years
Amortization Term: 30 years
Call Protection: Prepayment Lockout; US Treasury
defeasance permitted as of the 2 year
anniversary of the date of initial
issuance of the offered certificates
Cut-off Date LTV Ratio: 76.7%
Maturity/ARD LTV Ratio: 69.0%
U/W DSCR: 1.20x
Cross Collateralization/Default: No/No
Special Provisions: Cash Management
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
Single Asset/Portfolio: Single Asset
Property Type: Retail
Location: Orion, MI
Years Built/Renovated: 1999
Collateral: 327,844 square foot power center anchored
by credit tenants
Property Management: Kirco Management Services, Ltd.
Underwritten net Cash Flow: $4,108,556
Appraised Value: $49,500,000
Appraisal Date: April 14, 2000
Occupancy Rate at U/W: 100%
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION:
Subject property is a 327,844 square foot retail power center, constructed in
1999, and located in Orion, MI. Orion, a suburb of Detroit, which is residential
in nature, also serves as a center for research and development and light
industry. Major employers in the area include Daimler/Chrysler, Oakland
University, Comerica Bank, Brand International and Volkswagen. Approximately 64%
of the tenants are strong national/regional retailers, such as Kohls (S&P rated
BBB+), Old Navy, Inc., (S&P rated A), Michaels Stores, Inc., (S&P rated BB),
Linens 'N Things, OfficeMax, Inc. and Petco Supplies. In addition, 66% of the
net rentable area is leased with maturity beyond the 10-year loan term.
The borrowing entity is Baldwin Commons L.L.C., an SPE whose members include
John Rakolta, Jr. (50% interest), A. Mathew Kirilum II (25% interest), Daniel
Stern (12.5% interest) and Chris Brochert (12.5% interest). The principals,
Chris Brochert and Daniel Stern, have been partners in over 30 retail centers
ranging in size from 31,00 square feet to 550,000 square feet. Subject property
manager, Kirco Managment Services, Ltd., currently manages in excess of 4
million square feet of office, industrial, and commerical space primarily in
southeast Michigan.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corp., Goldman, Sachs & Co. and Salomon Smith Barney Inc. (collectively, the
"Underwriters") and their personnel to assist in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
offering. While the information contained herein is from sources believed to be
reliable, it has not been independently verified by the Underwriters or any of
their respective affiliates, and those entities make no representations or
warranties with respect to the information contained herein or as to the
appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including without limitation assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 27
<PAGE>
INFORMATION CONTAINED ON THIS DISKETTE DATED, JUNE 5, 2000, IS SUBJECT TO
COMPLETION OR AMENDMENT.
THIS DISKETTE RELATES TO THE DLJ COMMERCIAL MORTGAGE CORP., COMMERCIAL MORTGAGE
PASS-THROUGH CERTIFICATES, SERIES 2000-CF1, CLASS S, CLASS A-1A, CLASS A-1B,
CLASS A-2, CLASS A-3, CLASS A-4, CLASS B-1 AND CLASS B-2 (THE "OFFERED
CERTIFICATES"). THE INFORMATION CONTAINED ON THIS DISKETTE IS PROVIDED TO
FACILITATE YOUR REVIEW OF THE COLLATERAL UNDERLYING THE OFFERED CERTIFICATES.
THE INFORMATION ON THIS DISKETTE CONSTITUTES A COLLATERAL TERM SHEET PREPARED
SOLELY FOR INFORMATIONAL PURPOSES. No offer to sell or solicitation of any offer
to purchase securities is being made hereby. While the information contained
hereon is from sources believed to be reliable, it has not been independently
verified by Donaldson, Lufkin & Jenrette Securities Corporation, Goldman, Sachs
& Co., Salomon Smith Barney Inc. or any of their respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation, Goldman,
Sachs & Co., Salomon Smith Barney Inc. nor any of their respective affiliates
makes any representations or warranties with respect to the information
contained hereon or as to the appropriateness, usefulness or completeness of
these materials. The information on this diskette is subject to errors,
omissions and changes and is subject to modification or withdrawal at any time
with or without notice. The information on this diskette supersedes any and all
information contained in any previously furnished collateral term sheets and
shall be superseded by any subsequently furnished similar materials. The
information on this diskette shall be superseded by a final prospectus and
prospectus supplement with respect to the Offered Certificates. No purchase of
any securities may be made unless and until a final prospectus and prospectus
supplement with respect to the Offered Certificates has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents of this diskette are not to be reproduced
without the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation, Goldman, Sachs & Co. and Salomon Smith Barney Inc. Donaldson,
Lufkin & Jenrette Securities Corporation, Goldman, Sachs & Co., Salomon Smith
Barney Inc. and their affiliates expressly reserve the right, at their sole
discretion, to reject any or all proposals or expressions of interest in the
subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Prospective investors are advised to read carefully, and should rely solely on,
the final prospectus and prospectus supplement relating to the Offered
Certificates in making their investment decisions.
<PAGE>
<TABLE>
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates Series 2000-CF1
Preliminary Information
June 5, 2000
<CAPTION>
# Property Name Management Company
--------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 Connecticut Financial Center Chase Management, LLC
2 Presidio Apartments M.H. Podell Company
3 77 Water Street Sage Realty Corporation
4 777 3rd Avenue Sage Realty Corporation
5 Baldwin Commons Kirco Management Services, Ltd.
6 San Mateo Plaza Matteson Realty Services, Inc.
7 Glendale Marketplace Regent Properties, Inc.
8 Flagship Phase 1
8a Regional Place Apartments Flagship Management Corporation
8b Ashton Park Apartments Flagship Management Corporation
8c Meadowbrook Apartments Flagship Management Corporation
8d Parkside Apartments Flagship Management Corporation
8e Ashwood Park Apartments Flagship Management Corporation
9 Sonora Village Shopping Center Westwood Financial Corp.
10 West Covina Village Shopping Center Hassen Development Corporation
11 Boulder Park Apartments The Hayman Company
12 One Congress Center Anvan/Midwest Realty Management Company
13 Royal Coachman Resort (1A) National Home Communities, L.L.C.
14 Paradise Park Resort (1A) National Home Communities, L.L.C.
15 Vacation Village Travel Resort (1A) National Home Communities, L.L.C.
16 Alliance CF 3
16a Sage Hollow Apartments Alliance Residential Management, L.L.C.
16b The Gardens Apartments Alliance Residential Management, L.L.C.
16c Elm Creek Apartments Alliance Residential Management, L.L.C.
17 Village of the Four Seasons Mobile Home Park (1B) National Home Communities, L.L.C.
18 Parque La Quinta Mobile Home Park (1B) National Home Communities, L.L.C.
19 Las Palmas Mobile Home Park (1B) National Home Communities, L.L.C.
20 North Mathilda Office Center Matteson Realty Services, Inc.
21 Gateway Plaza REI Investments, Inc.
22 Mansion House Love Management Company, Inc.
23 Paradyne Corporation Savitar Realty Advisors
24 Alliance CF 1
24a The Place at Green Trails Apartments Alliance Residential Management, L.L.C.
24b The Harbour Apartments Alliance Residential Management, L.L.C.
25 Christmas Tree Shop Plaza & Staples Plaza Avon Properties, Inc.
26 Savannah Grand Apartments EPT Management Company
27 University Avenue Park Owner Managed
28 Holiday Inn Select William A. Meyer & Richard G. Jabara
29 Klahanie Village Shopping Center Claremont Development Company, Inc.
30 Alliance CF4
30a Tanglebrook Apartments Alliance Residential Management, L.L.C.
30b Steeplechase Apartments Alliance Residential Management, L.L.C.
31 Brookfield III Office Building Etkin Management, L.L.C.
32 Birch Street Promenade CIM Group LLC
33 Tops Plaza Shopping Center Owner Managed
34 The Market Shopping Center The Rinker Company
35 Dyncorp Building Fitzgerald & Matan Property Management, Inc.
36 Maroa Park Apartments JBT Properties, Inc.
37 Belleview Plaza Shopping Center Infinity Property Management Corp.
38 Perimeter Square West TMW Management, LLC
39 Ramsgate Apartments Owner Managed
40 Norwood Center Passco Property Management, Inc.
41 Alliance CF 2
41a Deerbrook Forest Apartments Alliance Residential Management, L.L.C.
41b Chalfonte Apartments Alliance Residential Management, L.L.C.
42 The 495 Technology Center Owner Managed
43 The Village Shopping Center Owner Managed
44 Blue Ridge Office Building Community Habitat, Inc.
45 Sundance Apartments Owner Managed
46 The Park Prime Time Properties, Inc.
47 Stevenson Ranch Plaza Phase II DSB Properties, Inc.
48 Woodward Pavilion Shopping Center Paynter Realty & Investments, Inc.
49 Decatur Twain Shopping Center NKE, Inc.
50 Walnut Hills Plaza Passco Property Management, Inc.
51 Maple Leaf Apartments Equity Property Management, LLC
52 Colerain Towers Metro Prop Realty, Inc.
53 Sierra Mobile Estates Owner Managed
54 Spring Street Business Park Owner Managed
55 123-125 Broad Street Paul Maggiore Builders Corp.
56 Galleria at the Renaissance Owner Managed
57 Canterbury Apartments I.D.M. Management, Inc.
58 Chester Commons Capstone Management, Ltd.
59 Winsor Office Plaza Timberland Partners Management Co.
60 Foxhaven Apartments Owner Managed
61 The Residential Resort Owner Managed
62 Alvarado Place Apartments Owner Managed
63 Sherman Grove Wesley Realty Group, Inc.
64 Aztec Square Shopping Center Homkor, Inc.
65 Renzi Portfolio
65a Lithuanian Hall Owner Managed
65b Stable Court Owner Managed
65c Gaskill Court Owner Managed
66 Selma Square Shopping Center Phase II Owner Managed
67 Stonewood Village Retail Center Infinity Property Management Corp.
68 Fiesta Plaza Owner Managed
69 Pecan Valley Manufactured Housing Community Owner Managed
70 The Colonial Woods Apartments Owner Managed
71 Pikesville Plaza Owner Managed
72 Autumn Brook Apartments Autumn Brook Apartments, Inc.
73 Ladley Building Owner Managed
74 Monaco Village Shopping Center Dunton Realty Company
75 Westminster Townhouse Apartments Charles S. Williams Realty Investment Corporation
76 Bentley Place Apartments Owner Managed
77 King Louis XIV Apartments Peek/Howe Real Estate, Inc.
78 Cornerstone Chase Apartments Polaris Property Group, L.C.
79 Oakwood Manor Condominium Apartments Owner Managed
80 Pamida Hometown Values Owner Managed
81 Stahl Plaza Owner Managed
82 Melrose Center Shops Market Land Company, LLC
83 Autumn Chase / Whisper Cove Apartments Owner Managed
84 Triangle Plaza Shopping Center Owner Managed
85 La Hacienda Apartments Owner Managed
86 Bel Air Center Rouse Realty
87 Southwood Court Townhouses Owner Managed
88 1045 Sheridan Street Levco Development Corp.
89 Coit Village Shopping Center S.F. Waranch Company, Inc.
90 Broadway Square Owner Managed
91 Oak Hill Manor Apartments Owner Managed
92 Bayou Rouge Apartments Owner Managed
93 Franklin Square Apartments - Syracuse Partnership Properties, Inc.
94 The Villages of Inwood Apartments Owner Managed
95 Laurel Tree Apartments Owner Managed
96 Liberty Ridge Apartments Owner Managed
97 Twelve Oaks Apartments Owner Managed
98 Catalina Apartments Realty & Mortgage Co.
99 Hickory Hill Apartments IDPM
100 Washington Square and Lincoln Estates Apartments Trail Head Land Development
101 Ruse De Ville Apartments Oak Leaf Management
102 Park Place Shopping Center Owner Managed
103 75 Midvale Road Owner Managed
104 Quail Creek Arms Apartments United Management Services
105 Hampton Courts Apartments Cormorant Co., Inc.
106 Williamsburg Apartments Owner Managed
107 Winward II Apartments Owner Managed
108 Carriage Hill Apartments Owner Managed
109 Brookview Commons Owner Managed
110 Southview and Westview Apartments Owner Managed
111 Creek Bend Apartments Owner Managed
112 The Willows Townhomes Owner Managed
113 Stuyvesant Avenue Apartments Owner Managed
114 National Mobile Home Park Owner Managed
115 Hollywood Video Store Owner Managed
116 Lakeview Apartments LEDIC Management Group
117 16 and 18-20 Taylor Avenue Apartments Owner Managed
118 Granite Court Owner Managed
119 Timberlakes Apartments Owner Managed
120 Garden Creek Apartments Owner Managed
121 Royal Court Apartments Leaders Property Management Services, Inc.
122 Ponderosa Village Mobile Home Park Owner-Managed
123 Allen Place & Greenwood Apartments Owner Managed
124 Averil Way Apartments Lenn Kaptain Realtors
125 Cheverly 12 Warehouse Donohoe Real Estate Services
126 1055 Clarkson Apartments Owner Managed
127 Circle Apartments Owner Managed
128 Windswept Apartments Owner Managed
Total/Weighted Average:
(1A) The Underlying Mortgage Loans secured by Royal Coachman Resort, Paradise Park Resort and Vacation Village Travel Resort are
cross-collateralized and cross-defaulted, respectively.
(1B) The Underlying Mortgage Loans secured by Village of the Four Seasons Mobile Home Park, Parque La Quinta Mobile Home Park and
Las Palmas Mobile Home Park are cross-collateralized and cross-defaulted, respectively.
(2) Does not include the hotel property.
(3) In the case of cross-collateralized and cross-defaulted Underlying Mortgage Loans, the combined LTV is presented for each and
every related Underlying Mortgage Loan.
(4) At maturity with respect to Balloon Loans or at the ARD in the case of ARD Loans. There can be no assurance that the value of
any particular Mortgaged Property will not have declined from the original appraisal value.
(5) Underwritten NCF reflects the Net Cash Flow after U/W Replacement Reserves, U/W LC's and TI's and U/W FF&E.
(6) U/W DSCR is based on the amount of the monthly payments presented. In the case of cross-collateralized and cross-defaulted
Underlying Mortgage Loans the combined U/W DSCR is presented for each and every related Underlying Mortgage Loan.
(7) Assumes a Cut-off Date of June 1, 2000.
(8) In the case of the ARD Loans, the anticipated repayment date is assumed to be the maturity date for the purposes of the
indicated column.
(9) Anticipated Repayment Date.
(10) Prepayment Provision as of Origination:
L (x) = Lockout or Defeasance for x years
O (x) = Prepayable at par for x years
(11) "Yes" means that defeasance is permitted notwithstanding the Lockout Period.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Zip
# Address City County State Code Property Type
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 157 Church Street New Haven New Haven CT 06511 Office
2 2000 Walnut Avenue Fremont Alameda CA 94538 Multifamily
3 77 Water Street New York New York NY 10005 Office
4 777 3rd Avenue New York New York NY 10017 Office
5 4806-4868 Baldwin Road Orion Oakland MI 48359 Retail
6 1850 Gateway Drive San Mateo San Mateo CA 94404 Office
7 140 South Brand Boulevard Glendale Los Angeles CA 91205 Retail
8
8a 3037 Mustang Drive Grapevine Tarrant TX 76051 Multifamily
8b 2403 Pioneer Parkway Grand Prairie Tarrant TX 75051 Multifamily
8c 515 Bender Avenue Humble Harris TX 77338 Multifamily
8d 8455 Will Clayton Parkway Humble Harris TX 77338 Multifamily
8e 3520 Burke Road Pasadena Harris TX 77504 Multifamily
9 15640 North Pima Road Scottsdale Maricopa AZ 85260 Retail
10 301-477 North Azusa Avenue West Covina Los Angeles CA 91791 Retail
11 24 Kessler Farm Drive Nashua Hillsborough NH 03063 Multifamily
12 401 South State Street and 418 South Wabash Avenue Chicago Cook IL 60605 Office
13 1070 Laurel Road East Nokomis Sarasota FL 34275 Manufactured Housing
14 1201 North Expressway 77 Harlingen Cameron TX 78552 Manufactured Housing
15 6900 Ulmerton Road Largo Pinellas FL 33771 Manufactured Housing
16
16a 10700 Fuqua Street Houston Harris TX 77089 Multifamily
16b 1660 West T.C. Jester Boulevard Houston Harris TX 77008 Multifamily
16c 2911 Sycamore Springs Drive Houston Harris TX 77339 Multifamily
17 200 Ford Road San Jose Santa Clara CA 95138 Manufactured Housing
18 305 South Willow Avenue Rialto San Bernardino CA 92376 Manufactured Housing
19 1025 South Riverside Avenue Rialto San Bernardino CA 92376 Manufactured Housing
20 755 North Mathilda Avenue and 680 Vaqueros Avenue Sunnyvale Santa Clara CA 94086 Office
21 950 North Meridian Street Indianapolis Marion IN 46204 Office
22 300 North Fourth Street St. Louis St. Louis City MO 63102 Multifamily
23 8545 126th Avenue North Largo Pinellas FL 33773 Office
24
24a 1111 Houghton Road Houston Harris TX 77450 Multifamily
24b 4040 Crow Road Beaumont Jefferson TX 77706 Multifamily
25 15 and 20 Stockwell Drive Avon Norfolk MA 02322 Retail
26 3207 Rosebud Lane Winter Park Orange FL 32792 Multifamily
27 26 Dartmouth Street Westwood Norfolk MA 02090 Office
28 111 Route 173 Clinton Hunterdon NJ 08809 Hotel
29 4560 Klahanie Drive SE Issaquah King WA 98029 Retail
30
30a 1430 Fountainview Houston Harris TX 77057 Multifamily
30b 2400 Loop 35 Alvin Brazoria TX 77511 Multifamily
31 31700 Middlebelt Road Farmington Hills Oakland MI 48334 Office
32 110, 260, and 330 Birch Street Brea Orange CA 92821 Mixed Use
33 1381 East Ridge Road Irondequoit Monroe NY 14609 Retail
34 8915 Market Place Northeast Lake Stevens Snohomish WA 98205 Retail
35 6101 Stevenson Avenue Alexandria Alexandria City VA 22304 Office
36 501 West Sierra Avenue Fresno Fresno CA 93704 Multifamily
37 7070 Aaron Aronov Drive Fairfield Jefferson AL 35064 Retail
38 1165 Perimeter Center West Atlanta Dekalb GA 30338 Retail
39 1407 Bernard Street Denton Denton TX 76201 Multifamily
40 4211-4251 Norwood Avenue Sacramento Sacramento CA 95838 Retail
41
41a 17750 Highway 59 North Humble Harris TX 77396 Multifamily
41b 1715 Enclave Parkway Houston Harris TX 77077 Multifamily
42 153 Northboro Road Southborough Worcester MA 01772 Industrial
43 19301, 19307 & 19361 Saticoy Street Reseda Los Angeles CA 91335 Retail
44 639 Granite Street Braintree Norfolk MA 02184 Office
45 1670 Murray Boulevard Colorado Springs El Paso CO 80915 Multifamily
46 600 Park Drive Warner Robins Houston GA 31088 Office
47 24955-24991 Pico Canyon Road Stevenson Ranch Los Angeles CA 91381 Retail
48 8805-8971 North Cedar Avenue Fresno Fresno CA 93720 Retail
49 3650 South Decatur Boulevard Las Vegas Clark NV 89103 Retail
50 18718-18750 Amar Road Walnut Los Angeles CA 91789 Retail
51 7106-7120 Broadway Merrillville Lake IN 46410 Multifamily
52 5464 Bahama Terrace Cincinnati Hamilton OH 45223 Multifamily
53 17225 & 17333 Valley Boulevard Fontana San Bernardino CA 92335 Manufactured Housing
54 3156-3160 Spring Street Fairfax Fairfax VA 22031 Industrial
55 123-125 Broad Street Boston Suffolk MA 02110 Office
56 1405-1409 Renaissance Boulevard Albuquerque Bernalillo NM 87107 Retail
57 3400 Northwest 29th Street Lauderdale Lakes Broward FL 33311 Multifamily
58 1120 Chester Avenue Cleveland Cuyahoga OH 44114 Office
59 1935 West County Road B-2 Roseville Ramsey MN 55113 Office
60 7275 Hickory Street Frisco Collin TX 75034 Multifamily
61 8 and 11 Turtle Creek Lane East Hartford Hartford CT 06108 Multifamily
62 1475 South Alvarado Drive Colorado Springs El Paso CO 80910 Multifamily
63 627 Grove Street and 1549-1571 Sherman Avenue Evanston Cook IL 60201 Mixed Use
64 4823 Highway 95 Fort Mohave Mohave AZ 86426 Retail
65
65a 924-32 East Moyamensing Avenue Philadelphia Philadelphia PA 19147 Multifamily
65b 213 Fitzwater Street Philadelphia Philadelphia PA 19147 Multifamily
65c 337 Gaskill Street Philadelphia Philadelphia PA 19147 Multifamily
66 2775 and 2851 South Highland Avenue Selma Fresno CA 93662 Retail
67 5976 Memorial Drive Stone Mountain Dekalb GA 30083 Retail
68 6711 Mullins Street Houston Harris TX 77081 Multifamily
69 6507 Barksdale Boulevard Bossier City Bossier LA 71112 Manufactured Housing
70 6333 Windswept Lane Houston Harris TX 77057 Multifamily
71 600 Reistertown Road Pikesville Baltimore MD 21208 Office
72 301 Autumn Brook Terrace Hueytown Jefferson AL 35023 Multifamily
73 500 South Arthur Avenue Louisville Boulder CO 80027 Industrial
74 2200 South Monaco Parkway Denver Denver CO 80222 Retail
75 600 Redmond Road Rome Floyd GA 30165 Multifamily
76 2828 North Pine Hills Road Orlando Orange FL 32808 Multifamily
77 3121 Johnston Street Lafayette Lafayette LA 70503 Multifamily
78 3120-3152 Valley Meadow Drive Dallas Dallas TX 75220 Multifamily
79 4800 Oakwood Drive Odessa Ector TX 79762 Multifamily
80 174 James Robertson Drive Gladwin Gladwin MI 48624 Retail
81 158 Mountain View Boulevard Wayne Passaic NJ 07470 Retail
82 2615 Franklin Pike Nashville Davidson TN 37204 Retail
83 8600 Research Boulevard Austin Travis TX 78758 Multifamily
84 18030 Triangle Shopping Plaza Dumfries Prince William VA 22026 Retail
85 6100 Glenmont Drive Houston Harris TX 77081 Multifamily
86 1200 Cirbyway and 1079 Sunrise Avenue Roseville Placer CA 95661 Retail
87 24 State Street Biddeford York ME 04005 Multifamily
88 1045 Sheridan Street Chicopee Hampden MA 01020 Industrial
89 6832 Coit Road Plano Collin TX 75023 Retail
90 120 South White Horse Pike Hammonton Atlantic NJ 08037 Retail
91 7314 Oak Manor Drive San Antonio Bexar TX 78229 Multifamily
92 7110 East Kings Highway Shreveport Caddo LA 71115 Multifamily
93 460 North Franklin Square Syracuse Onondaga NY 13204 Multifamily
94 5710-5732 West Mount Houston Road Houston Harris TX 77088 Multifamily
95 17923 Arrow Boulevard Fontana San Bernardino CA 92335 Multifamily
96 6222 Loop 410 Northwest San Antonio Bexar TX 78238 Multifamily
97 105 Gattis School Road Round Rock Williamson TX 78664 Multifamily
98 7733 South Shore Drive Chicago Cook IL 60649 Multifamily
99 276 Stewart's Ferry Pike Nashville Davidson TN 37214 Multifamily
100 511 Washington Avenue & 711 East 7th Street Monticello Wright MN 55362 Multifamily
101 7650 Clarewood Drive Houston Harris TX 77036 Multifamily
102 801-821 East Capitol Drive Milwaukee Milwaukee WI 53212 Retail
103 75 Midvale Road Edison Middlesex NJ 08837 Industrial
104 9133 Northgate Boulevard Austin Travis TX 78758 Multifamily
105 26111 Pinehurst Street Roseville Macomb MI 48066 Multifamily
106 3105 Edenborn Avenue Metairie Jefferson LA 70002 Multifamily
107 4288-4292 Chaha Road Garland Dallas TX 75043 Multifamily
108 473 Whalley Avenue New Haven New Haven CT 06411 Multifamily
109 4261 West 20th Street Cleveland Cuyahoga OH 44109 Multifamily
110 2505 West Violet Street & 4827 Melton Lane Tampa Hillsborough FL 33614 Multifamily
111 1013 East Interstate 30 Garland Dallas TX 75043 Multifamily
112 3712 Coral Springs Drive Coral Springs Broward FL 33065 Multifamily
113 818 Stuyvesant Avenue Irvington Essex NJ 07111 Multifamily
114 5311 East Archer Street Tulsa Tulsa OK 74115 Manufactured Housing
115 11602 South Memorial Parkway Huntsville Madison AL 35803 Retail
116 100 Lakeview Boulevard Glasgow Barren KY 42141 Multifamily
117 16 and 18-20 Taylor Avenue Norwalk Fairfield CT 06854 Multifamily
118 431-433 West Gay Street West Chester Chester PA 19380 Multifamily
119 1041 East Interstate Highway 30 Garland Dallas TX 75043 Multifamily
120 1033, 1037, & 1041 East Interstate 30 Garland Dallas TX 75043 Multifamily
121 2031 North Prairie Avenue Dallas Dallas TX 75204 Multifamily
122 2027 Read Street Omaha Douglas NE 68111 Manufactured Housing
123 46 Allen Place & 17 Greenwood Street Hartford Hartford CT 06106 Multifamily
124 6143 Averill Way Dallas Dallas TX 75225 Multifamily
125 4801-4823 Lydell Road Cheverly Prince George's MD 20781 Industrial
126 1055 Clarkson Street Denver Denver CO 80218 Multifamily
127 1527 South Austin Street Denison Grayson TX 75020 Multifamily
128 2703-2707 Windswept Cove Austin Travis TX 78745 Multifamily
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Units/
Sq. Ft./ Occupancy Date of
Property Mortgage Rooms/ Fee Simple/ Year Year Rate at Occupancy
# Sub-type Loan Seller Pads Leasehold Built Renovated U/W (2) Rate
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 Column 456,757 Leasehold 1990 N/A 90% 9/1/99
2 Column 432 Fee 1998 N/A 98% 4/18/00
3 Column 547,330 Leasehold 1970 1998 97% 11/1/99
4 Column 571,753 Leasehold 1963 1998 100% 11/1/99
5 Anchored Column 327,844 Fee 1999 N/A 100% 4/1/00
6 Column 135,085 Fee 1990 N/A 100% 2/1/00
7 Anchored Column 160,881 Fee 1998 N/A 100% 5/1/99
8 Column
8a 218 Fee 1974 1999 91% 2/16/00
8b 256 Fee 1983 1999 95% 2/16/00
8c 260 Fee 1983 1999 93% 2/17/00
8d 160 Fee 1983 1999 86% 2/17/00
8e 144 Fee 1984 1999 89% 4/20/00
9 Anchored Column 252,867 Fee 1996 1998 98% 8/1/99
10 Anchored Column 231,486 Fee 1983 1998 93% 3/1/00
11 Column 482 Fee 1989 1999 97% 3/1/00
12 Column 479,948 Fee 1893 1995 99% 11/1/99
13 Column 548 Fee 1970 1985 90% 1/31/00
14 Column 548 Fee 1974 1990 100% 1/31/00
15 Column 292 Fee 1974 1985 90% 1/31/00
16 Column
16a 252 Fee 1979 1994 97% 10/26/99
16b 246 Fee 1983 1999 93% 10/26/99
16c 168 Fee 1984 1995 92% 10/26/99
17 Column 271 Fee 1972 1984 100% 1/1/00
18 Column 166 Fee 1972 N/A 99% 1/1/00
19 Column 136 Fee 1968 N/A 100% 1/1/00
20 Column 105,000 Fee 1998 N/A 100% 11/29/99
21 Column 283,887 Fee 1987 1999 98% 11/1/99
22 Column 416 Leasehold 1967 1989 87% 8/31/99
23 Column 332,689 Fee 1980 1990 100% 4/6/00
24 Column
24a 275 Fee 1983 1994 97% 10/28/99
24b 232 Fee 1982 1995 88% 10/26/99
25 Anchored Column 100,468 Fee 1990 1993 100% 4/1/00
26 Column 256 Fee 1974 1998 90% 1/28/00
27 Column 174,119 Fee 1969 1999 100% 1/1/00
28 Full Service Column 142 Fee 1984 1999 N/A N/A
29 Shadow Anchored Column 63,921 Fee 1999 N/A 84% 3/1/00
30 Column
30a 127 Fee 1973 1996 97% 10/23/99
30b 171 Fee 1975 1997 86% 10/25/99
31 Column 92,750 Fee 1988 N/A 100% 1/1/00
32 Retail/Multifamily Column 53,531 Fee 1999 N/A 100% 8/15/99
33 Anchored Column 142,827 Fee 1983 1991 92% 7/31/99
34 Anchored Column 68,950 Fee 1999 N/A 94% 2/1/00
35 Column 76,589 Fee 1985 N/A 100% 3/1/00
36 Column 248 Fee 1986 N/A 97% 12/10/99
37 Anchored Column 225,541 Fee 1972 1987 94% 10/31/99
38 Anchored Column 62,875 Fee 1995 N/A 100% 3/1/00
39 Column 279 Fee 1983 1995 94% 2/22/00
40 Anchored Column 75,970 Fee 1994 1999 100% 11/1/99
41 Column
41a 152 Fee 1982 1997 97% 10/26/99
41b 86 Fee 1983 1998 92% 10/25/99
42 Column 148,719 Fee 1999 N/A 95% 3/1/00
43 Anchored Column 84,304 Fee 1990 N/A 86% 3/1/00
44 Column 74,895 Fee 1984 N/A 92% 4/12/00
45 Column 147 Fee 1971 1994 97% 2/28/00
46 Column 106,733 Fee 1983 1999 100% 10/1/99
47 Anchored Column 62,200 Fee 1999 N/A 100% 12/15/99
48 Shadow Anchored Column 42,686 Fee 1999 N/A 97% 4/3/00
49 Unanchored Column 50,174 Fee 1987 N/A 97% 8/1/99
50 Shadow Anchored Column 39,730 Fee 1985 1987 97% 12/1/99
51 Column 96 Fee 1997 1999 100% 4/18/00
52 Column 257 Fee 1965 1999 97% 4/20/99
53 Column 213 Fee 1972 1973 96% 1/1/00
54 Column 53,268 Fee 1988 N/A 100% 2/1/00
55 Column 28,232 Fee 1890 1999 98% 12/6/99
56 Anchored Column 40,100 Fee 1999 N/A 100% 4/1/00
57 Column 120 Fee 1973 1994 99% 8/31/99
58 Column 58,428 Fee 1923 1999 89% 1/1/00
59 Column 74,601 Fee 1970 1991 91% 4/18/00
60 Column 96 Fee 1984 1999 98% 4/4/00
61 Column 120 Fee 1966 1990 97% 1/31/00
62 Column 100 Fee 1984 N/A 96% 3/13/00
63 Office/Retail Column 44,798 Fee 1928 1999 99% 1/24/00
64 Unanchored Column 25,904 Fee 1998 N/A 95% 12/31/99
65 Column
65a 21 Fee 1900 1996 100% 11/5/99
65b 9 Fee 1900 1984 100% 11/5/99
65c 12 Fee 1900 1996 100% 11/5/99
66 Anchored Column 27,100 Fee 1999 N/A 100% 1/5/00
67 Unanchored Column 50,165 Fee 1970 1989 100% 10/25/99
68 Column 177 Fee 1970 N/A 95% 11/1/99
69 Column 222 Fee 1985 1999 86% 1/31/00
70 Column 112 Fee 1980 N/A 99% 1/1/00
71 Column 59,025 Fee 1974 1996 85% 12/1/99
72 Column 60 Fee 1992 1996 100% 11/1/99
73 Column 27,677 Fee 1999 N/A 100% 4/1/00
74 Shadow Anchored Column 48,630 Fee 1984 N/A 83% 1/1/00
75 Column 104 Fee 1971 1992 97% 9/1/99
76 Column 100 Fee 1969 1992 100% 12/31/99
77 Column 88 Fee 1970 N/A 97% 11/5/99
78 Column 166 Fee 1972 1999 92% 12/20/99
79 Column 48 Fee 1981 1998 94% 1/1/00
80 Anchored Column 42,476 Fee 1996 N/A 100% 10/13/99
81 Unanchored Column 32,996 Fee 1940 1999 100% 4/26/00
82 Shadow Anchored Column 17,660 Fee 1999 N/A 100% 12/1/99
83 Column 84 Fee 1969 1998 100% 9/20/99
84 Unanchored Column 85,596 Fee 1955 1999 97% 1/4/00
85 Column 114 Fee 1970 1996 99% 1/1/00
86 Shadow Anchored Column 32,200 Fee 1988 N/A 90% 12/15/99
87 Column 42 Fee 1920 1985 100% 2/1/00
88 Column 62,080 Fee 1979 1995 100% 12/22/99
89 Unanchored Column 15,994 Fee 1997 1998 100% 3/31/00
90 Unanchored Column 20,160 Fee 1973 1996 94% 8/1/99
91 Column 58 Fee 1963 1997 98% 11/18/99
92 Column 66 Fee 1984 N/A 100% 4/1/00
93 Column 136 Fee 1990 N/A 88% 6/1/99
94 Column 48 Fee 1984 N/A 100% 2/9/00
95 Column 36 Fee 1989 N/A 94% 10/1/99
96 Column 62 Fee 1981 N/A 98% 4/12/00
97 Column 32 Fee 1984 N/A 100% 9/1/99
98 Column 65 Fee 1967 N/A 88% 10/28/99
99 Column 44 Fee 1964 1998 100% 11/1/99
100 Column 42 Fee 1984 1997 100% 9/1/99
101 Column 60 Fee 1964 1991 100% 8/1/99
102 Anchored Column 17,160 Fee 1964 1988 81% 11/1/99
103 Column 43,200 Fee 1980 1998 100% 10/15/99
104 Column 44 Fee 1983 1998 98% 12/20/99
105 Column 44 Fee 1968 1987 100% 8/31/99
106 Column 52 Fee 1969 1996 92% 10/31/99
107 Column 28 Fee 1985 1999 100% 4/28/00
108 Column 22 Fee 1988 N/A 100% 12/1/99
109 Column 64 Fee 1963 1988 97% 1/1/00
110 Column 36 Fee 1972 1981 100% 4/1/00
111 Column 26 Fee 1985 1999 92% 3/7/00
112 Column 16 Fee 1985 N/A 100% 11/1/99
113 Column 23 Fee 1940 1997 100% 1/6/00
114 Column 87 Fee 1950 1986 91% 10/1/99
115 Unanchored Column 5,040 Fee 1999 N/A 100% 10/22/99
116 Column 48 Fee 1987 1998 94% 7/27/99
117 Column 13 Fee 1890 1999 100% 2/1/00
118 Column 16 Fee 1988 N/A 100% 10/1/99
119 Column 23 Fee 1985 1999 96% 3/7/00
120 Column 20 Fee 1985 1999 95% 3/7/00
121 Column 35 Fee 1984 1999 97% 10/31/99
122 Column 49 Fee 1953 1998 96% 9/30/99
123 Column 50 Fee 1964 1999 98% 2/1/00
124 Column 6 Fee 1958 1999 100% 11/1/99
125 Column 28,615 Fee 1980 N/A 92% 3/1/00
126 Column 12 Fee 1903 1998 100% 12/1/99
127 Column 38 Fee 1965 1995 92% 11/1/99
128 Column 18 Fee 1971 N/A 100% 12/31/99
------------------------------------
1981 1995 96%
====================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Maturity/ Contractual
Cut-off ARD Engineering Recurring
Appraised Date LTV Date LTV U/W U/W U/W Reserve at Replacement
# Value Ratio (3) Ratio (3) (4) NOI NCF (5) DSCR (6) Origination Reserve
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 $ 86,100,000 65.0% 58.6% $ 8,387,348 $ 7,614,712 1.50 x $ 6,375 $ 112,500
2 70,500,000 69.4% 62.2% 5,630,663 5,522,663 1.28 N/A 108,000
3 92,000,000 45.1% 39.8% 6,532,153 5,267,965 1.33 151,736 127,072
4 108,000,000 37.0% 33.6% 7,316,146 6,870,731 1.84 357,588 147,547
5 49,500,000 76.7% 69.0% 4,257,378 4,108,556 1.20 N/A N/A
6 49,700,000 73.3% 65.7% 4,419,776 4,124,749 1.28 N/A N/A
7 41,000,000 77.6% 69.6% 3,492,752 3,402,094 1.22 N/A N/A
8 39,690,000 74.4% 67.7% 3,677,757 3,418,257 1.23 265,256 253,100
8a 9,120,000 872,376 817,876 68,513 54,500
8b 9,835,000 880,828 816,828 2,563 57,600
8c 9,410,000 870,160 805,160 8,813 65,000
8d 6,650,000 601,262 561,262 2,750 40,000
8e 4,675,000 453,131 417,131 182,619 36,000
9 40,000,000 71.8% 66.5% 3,486,439 3,321,749 1.36 N/A 37,930
10 37,500,000 70.6% 63.7% 3,151,533 2,954,005 1.23 N/A 38,292
11 33,200,000 74.5% 67.0% 2,916,296 2,795,796 1.26 33,750 120,500
12 37,600,000 64.6% 58.6% 3,413,878 3,000,660 1.33 106,375 N/A
13 17,800,000 73.9% 66.9% 1,562,632 1,535,232 1.31 3,085 N/A
14 6,300,000 73.9% 66.9% 638,160 610,060 1.31 1,533 N/A
15 3,100,000 73.9% 66.9% 304,968 290,318 1.31 N/A N/A
16 25,700,000 71.5% 64.8% 2,331,080 2,164,580 1.27 817,688 166,500
16a 10,850,000 988,163 925,163 291,813 63,000
16b 8,750,000 814,865 753,365 400,500 61,500
16c 6,100,000 528,052 486,052 125,375 42,000
17 15,240,000 73.0% 67.5% 1,302,672 1,289,122 1.26 12,040 N/A
18 5,020,000 73.0% 67.5% 414,498 406,198 1.26 8,805 N/A
19 3,890,000 73.0% 67.5% 341,652 334,852 1.26 10,893 N/A
20 25,900,000 67.9% 61.2% 2,141,703 1,962,699 1.24 N/A N/A
21 26,400,000 66.1% 60.2% 2,477,275 2,220,477 1.36 N/A N/A
22 26,100,000 65.9% 59.9% 2,243,938 2,028,173 1.27 407,000 204,000
23 21,350,000 74.9% 67.5% 1,906,467 1,873,198 1.29 N/A 33,269
24 18,800,000 75.5% 68.5% 1,817,018 1,690,268 1.29 586,375 126,750
24a 11,100,000 1,012,787 944,037 307,688 68,750
24b 7,700,000 804,231 746,231 278,688 58,000
25 16,050,000 74.8% 67.1% 1,447,980 1,359,297 1.27 N/A 21,098
26 15,200,000 75.6% 67.6% 1,274,632 1,210,632 1.20 16,250 64,000
27 14,000,000 71.4% 64.5% 1,348,809 1,168,422 1.28 8,050 27,000
28 14,200,000 68.1% 57.7% 1,661,808 1,346,483 1.40 2,375 4.00%
29 14,200,000 67.6% 61.2% 1,179,562 1,107,744 1.25 N/A N/A
30 12,150,000 77.2% 70.0% 1,152,384 1,077,884 1.24 930,781 74,500
30a 7,750,0000 724,163 692,413 258,812 31,750
30b 4,400,0000 428,221 385,471 671,969 42,750
31 12,800,000 69.3% 62.6% 1,118,723 1,007,464 1.25 45,000 N/A
32 12,050,000 73.2% 66.2% 1,038,758 996,700 1.23 N/A 6,000
33 11,500,000 75.4% 68.0% 1,049,043 976,533 1.25 23,750 21,425
34 11,500,000 73.0% 65.7% 963,728 934,683 1.24 N/A N/A
35 10,500,000 78.0% 70.4% 983,260 896,500 1.21 N/A N/A
36 10,870,000 74.8% 67.4% 988,468 925,972 1.26 N/A 62,000
37 10,000,000 79.9% 72.6% 1,040,704 930,104 1.25 13,606 22,554
38 13,000,000 60.5% 54.3% 1,014,541 976,744 1.39 N/A N/A
39 10,760,000 66.0% 54.9% 1,037,040 953,340 1.41 115,866 27,900
40 9,100,000 77.3% 69.7% 858,518 820,714 1.29 N/A N/A
41 9,250,000 74.9% 67.9% 868,618 809,118 1.26 246,400 59,500
41a 5,450,000 502,021 464,021 163,000 38,000
41b 3,800,000 366,597 345,097 83,400 21,500
42 9,350,000 72.7% 65.5% 871,338 796,774 1.30 N/A 14,856
43 8,600,000 70.9% 63.9% 721,127 687,652 1.24 N/A N/A
44 8,100,000 72.3% 64.9% 749,803 660,206 1.26 31,563 N/A
45 6,645,000 79.7% 66.2% 676,622 639,872 1.28 5,813 36,750
46 7,825,000 66.3% 60.6% 827,647 718,502 1.45 1,500 21,347
47 11,000,000 45.2% 40.3% 787,491 747,422 1.75 N/A N/A
48 6,785,000 71.7% 65.6% 644,571 595,351 1.27 N/A N/A
49 6,400,000 74.7% 67.9% 630,705 569,333 1.27 1,313 7,526
50 6,150,000 73.7% 66.6% 571,555 525,599 1.28 18,638 N/A
51 5,800,000 78.0% 70.2% 531,699 507,699 1.25 N/A 24,000
52 5,850,000 69.7% 63.0% 607,061 542,811 1.48 37,156 64,250
53 5,070,000 74.8% 67.8% 439,914 429,264 1.23 3,338 N/A
54 5,400,000 68.5% 61.9% 498,485 458,530 1.35 17,344 19,176
55 5,550,000 66.5% 56.0% 491,823 448,548 1.24 N/A 5,646
56 4,525,000 79.5% 71.4% 444,827 427,706 1.33 N/A N/A
57 4,500,000 79.8% 71.7% 456,352 426,352 1.33 N/A 24,000
58 5,100,000 65.7% 59.5% 458,772 393,027 1.26 31,481 N/A
59 5,200,000 62.8% 57.3% 488,424 420,134 1.35 N/A N/A
60 3,700,000 78.3% 70.9% 363,791 339,791 1.27 3,750 24,000
61 3,900,000 71.5% 64.9% 360,399 330,399 1.28 3,500 30,000
62 3,409,000 77.7% 64.4% 323,906 298,906 1.20 21,800 25,000
63 3,675,000 70.5% 64.2% 364,522 328,519 1.35 N/A N/A
64 3,350,000 70.0% 63.2% 328,443 305,868 1.44 N/A N/A
65 3,068,000 74.8% 68.8% 296,446 285,946 1.27 625 10,500
65a 1,400,000 133,521 128,271 N/A 5,250
65b 828,000 79,492 77,242 N/A 2,250
65c 840,000 83,433 80,433 625 3,000
66 3,100,000 73.9% 66.9% 269,343 261,587 1.25 N/A N/A
67 2,700,000 79.6% 73.2% 296,277 261,324 1.33 N/A 7,525
68 3,200,000 66.3% 56.1% 317,861 273,611 1.29 33,014 44,250
69 2,880,000 72.9% 66.2% 266,084 254,984 1.30 N/A N/A
70 2,500,000 79.9% 71.8% 266,539 238,539 1.34 N/A N/A
71 3,400,000 58.7% 49.9% 327,087 265,922 1.31 68,000 16,897
72 2,800,000 69.3% 62.6% 250,608 235,608 1.34 4,425 15,000
73 2,570,000 74.9% 67.8% 239,828 220,607 1.25 N/A N/A
74 2,850,000 64.0% 58.2% 284,573 254,237 1.48 14,125 N/A
75 2,450,000 73.4% 67.0% 232,561 206,561 1.20 1,125 26,000
76 2,350,000 76.5% 64.9% 269,963 244,963 1.35 N/A 25,000
77 2,125,000 78.6% 71.1% 216,834 194,834 1.27 65,000 22,000
78 3,050,000 54.0% 49.7% 308,521 267,021 1.65 109,580 N/A
79 2,100,000 77.0% 70.2% 196,675 184,675 1.21 N/A 12,000
80 2,200,000 71.9% 65.5% 192,348 185,980 1.25 N/A N/A
81 2,400,000 65.6% 55.5% 236,861 198,076 1.25 33,912 N/A
82 2,135,000 73.0% 66.3% 205,761 187,027 1.28 N/A N/A
83 1,920,000 79.8% 72.7% 195,129 174,129 1.21 N/A 21,000
84 5,100,000 29.4% 24.7% 394,827 314,063 2.14 625 N/A
85 1,900,000 78.6% 71.0% 202,907 174,407 1.28 32,500 N/A
86 3,500,000 42.7% 36.1% 279,538 239,188 1.62 2,813 N/A
87 1,900,000 78.2% 70.8% 188,563 178,063 1.30 N/A 10,500
88 2,200,000 67.0% 57.0% 221,105 190,065 1.28 2,875 9,776
89 1,850,000 74.9% 68.2% 207,825 189,415 1.45 N/A N/A
90 1,900,000 71.4% 64.9% 185,436 162,252 1.28 N/A 3,024
91 1,630,000 77.2% 71.0% 166,379 151,879 1.23 N/A 14,496
92 1,500,000 80.0% 72.9% 157,916 141,416 1.24 1,000 16,500
93 1,500,000 77.8% 70.6% 171,409 137,409 1.27 4,531 34,000
94 1,475,000 77.9% 70.4% 146,857 134,857 1.28 N/A 12,000
95 1,500,000 76.6% 70.1% 156,087 147,087 1.32 N/A 9,000
96 1,580,000 72.2% 65.9% 147,355 131,855 1.21 N/A 15,500
97 1,420,000 79.2% 72.5% 140,372 132,372 1.23 N/A 8,000
98 1,600,000 68.6% 62.9% 148,395 132,145 1.24 N/A 16,250
99 1,460,000 75.2% 68.4% 136,316 125,316 1.21 130,264 11,000
100 1,445,000 75.8% 68.8% 133,466 122,966 1.21 4,250 10,500
101 1,250,000 78.5% 74.6% 133,319 118,319 1.26 66,019 15,000
102 1,575,000 62.1% 57.3% 141,950 121,711 1.25 21,241 3,024
103 1,500,000 64.0% 46.8% 150,854 128,459 1.25 8,125 N/A
104 1,250,000 73.9% 68.0% 129,147 118,147 1.30 N/A 11,000
105 1,275,000 67.3% 60.9% 114,337 103,337 1.31 13,250 11,000
106 1,300,000 65.6% 60.0% 119,711 102,461 1.25 N/A 13,000
107 1,100,000 76.3% 73.9% 107,145 100,145 1.22 N/A 7,000
108 1,040,000 79.2% 72.0% 109,506 104,006 1.35 N/A 5,500
109 1,120,000 72.0% 65.7% 108,214 92,214 1.20 N/A 16,000
110 975,000 77.9% 66.6% 109,066 100,066 1.27 3,125 9,000
111 950,000 76.3% 73.9% 94,957 88,457 1.24 N/A 6,500
112 950,000 73.6% 67.1% 85,767 81,767 1.24 N/A 4,000
113 865,000 78.5% 71.6% 91,707 85,957 1.33 N/A 5,750
114 825,000 75.1% 68.9% 86,649 82,299 1.36 8,688 4,350
115 1,075,000 57.6% 48.7% 98,639 97,883 1.58 N/A N/A
116 940,000 65.6% 60.0% 88,828 76,828 1.31 3,875 12,000
117 766,000 79.6% 72.3% 72,699 69,449 1.22 1,250 3,250
118 775,000 77.3% 70.9% 76,860 71,907 1.24 N/A 5,000
119 860,000 66.8% 64.7% 90,153 84,403 1.50 N/A 5,750
120 760,000 74.9% 72.6% 86,104 81,104 1.45 N/A 5,000
121 800,000 69.9% 64.6% 76,966 68,216 1.21 N/A 8,750
122 700,000 72.7% 66.3% 62,438 58,988 1.23 8,375 3,450
123 980,000 50.9% 36.4% 110,518 98,018 1.90 2,500 12,500
124 825,000 60.5% 55.2% 66,422 64,922 1.37 N/A 1,500
125 1,030,000 48.4% 41.2% 92,446 75,277 1.49 52,435 N/A
126 625,000 74.3% 67.5% 59,912 56,912 1.31 3,375 3,000
127 585,000 76.8% 70.4% 65,626 56,126 1.29 6,250 9,500
128 500,000 77.5% 72.0% 53,412 48,827 1.23 2,500 N/A
----------------------------------------------------------------------------
$1,333,858,000 68.7% 61.9% $116,567,434 $107,540,304
============================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
U/W
Contractual Recurring Percentage of Orig
Recurring Replacement U/W Original Cut-off Initial Maturity Amort.
# LC&TI Reserve LC&TI Balance Balance (7) Pool Balance Balance Term
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 N/A $ 91,351 $ 681,285 $ 56,000,000 $ 55,941,966 6.3% $ 50,432,131 360
2 N/A 108,000 N/A 49,000,000 48,944,982 5.5% 43,823,856 360
3 507,648 127,073 1,137,115 41,500,000 41,500,000 4.7% 36,617,431 360
4 493,171 147,547 297,868 40,000,000 40,000,000 4.5% 36,300,186 360
5 N/A 32,784 116,038 38,000,000 37,984,176 4.3% 34,147,670 360
6 150,000 27,018 268,009 36,500,000 36,409,504 4.1% 32,653,546 360
7 N/A 16,088 74,570 32,000,000 31,809,442 3.6% 28,544,644 360
8 N/A 259,500 N/A 29,550,000 29,522,973 3.3% 26,877,649 360
8a N/A 54,500 N/A
8b N/A 64,000 N/A
8c N/A 65,000 N/A
8d N/A 40,000 N/A
8e N/A 36,000 N/A
9 N/A 37,930 126,760 28,700,000 28,700,000 3.2% 26,590,500 360
10 150,000 38,292 159,236 26,500,000 26,489,591 3.0% 23,896,523 360
11 N/A 120,500 N/A 24,760,000 24,733,770 2.8% 22,256,865 360
12 375,000 95,990 317,228 24,300,000 24,291,348 2.7% 22,032,550 360
13 N/A 27,400 N/A 13,175,000 13,170,229 1.5% 11,934,886 360
14 N/A 28,100 N/A 4,725,000 4,723,289 0.5% 4,280,252 360
15 N/A 14,650 N/A 2,200,000 2,199,203 0.2% 1,992,921 360
16 N/A 166,500 N/A 18,417,890 18,369,957 2.1% 16,660,874 360
16a N/A 63,000 N/A
16b N/A 61,500 N/A
16c N/A 42,000 N/A
17 N/A 13,550 N/A 11,130,000 11,130,000 1.3% 10,291,265 360
18 N/A 8,300 N/A 3,700,000 3,700,000 0.4% 3,421,175 360
19 N/A 6,800 N/A 2,800,000 2,800,000 0.3% 2,588,998 360
20 68,250 21,000 158,004 17,625,000 17,575,799 2.0% 15,845,055 360
21 N/A 56,774 200,024 17,500,000 17,456,115 2.0% 15,880,454 360
22 N/A 215,765 N/A 17,250,000 17,199,049 1.9% 15,621,847 360
23 N/A 33,269 N/A 16,000,000 15,993,640 1.8% 14,418,114 360
24 N/A 126,750 N/A 14,231,889 14,194,850 1.6% 12,874,207 360
24a N/A 68,750 N/A
24b N/A 58,000 N/A
25 N/A 22,103 66,580 12,000,000 12,000,000 1.4% 10,771,257 360
26 N/A 64,000 N/A 11,500,000 11,487,035 1.3% 10,281,488 360
27 152,051 34,824 145,563 10,000,000 9,996,119 1.1% 9,023,776 360
28 N/A 5.00% N/A 9,750,000 9,675,107 1.1% 8,198,971 300
29 N/A 6,392 65,426 9,600,000 9,596,436 1.1% 8,684,594 360
30 N/A 74,500 N/A 9,403,577 9,379,104 1.1% 8,506,502 360
30a N/A 31,750 N/A
30b N/A 42,750 N/A
31 62,431 13,913 97,346 8,900,000 8,875,536 1.0% 8,012,348 360
32 54,000 10,708 31,350 8,845,000 8,817,752 1.0% 7,982,835 360
33 N/A 21,425 51,085 8,700,000 8,666,173 1.0% 7,821,719 360
34 N/A 10,294 18,751 8,400,000 8,396,515 0.9% 7,550,196 360
35 N/A 11,488 75,272 8,200,000 8,188,207 0.9% 7,387,914 360
36 N/A 62,496 N/A 8,150,000 8,127,366 0.9% 7,330,345 360
37 N/A 33,831 76,769 8,000,000 7,989,537 0.9% 7,257,126 360
38 N/A 16,458 21,339 7,860,000 7,860,000 0.9% 7,056,825 360
39 N/A 83,700 N/A 7,100,000 7,100,000 0.8% 5,911,582 300
40 39,000 11,395 26,409 7,050,000 7,030,471 0.8% 6,342,446 360
41 N/A 59,500 N/A 6,946,644 6,928,565 0.8% 6,283,954 360
41a N/A 38,000 N/A
41b N/A 21,500 N/A
42 40,909 14,872 59,692 6,800,000 6,797,244 0.8% 6,120,609 360
43 N/A 6,162 27,313 6,100,000 6,100,000 0.7% 5,498,312 360
44 82,317 14,694 74,903 5,860,000 5,857,503 0.7% 5,258,524 360
45 N/A 36,750 N/A 5,300,000 5,295,864 0.6% 4,400,258 300
46 60,000 21,347 87,798 5,200,000 5,187,846 0.6% 4,745,856 360
47 N/A 9,330 30,739 5,000,000 4,974,952 0.6% 4,435,975 360
48 N/A 6,403 42,817 4,875,000 4,865,316 0.5% 4,453,964 360
49 N/A 11,038 50,334 4,790,000 4,778,052 0.5% 4,348,646 360
50 N/A 6,348 39,608 4,550,000 4,532,675 0.5% 4,098,271 360
51 N/A 24,000 N/A 4,539,400 4,526,434 0.5% 4,072,379 360
52 N/A 64,250 N/A 4,100,000 4,075,542 0.5% 3,683,375 360
53 N/A 10,650 N/A 3,800,000 3,790,032 0.4% 3,435,152 360
54 N/A 19,176 20,779 3,700,000 3,698,598 0.4% 3,343,382 360
55 30,856 5,646 37,629 3,700,000 3,691,241 0.4% 3,107,294 300
56 4,980 6,015 11,106 3,600,000 3,598,466 0.4% 3,230,493 360
57 N/A 30,000 N/A 3,600,000 3,591,259 0.4% 3,227,481 360
58 58,716 10,517 55,228 3,350,000 3,348,792 0.4% 3,035,360 360
59 66,000 11,190 57,100 3,270,000 3,263,294 0.4% 2,979,173 360
60 N/A 24,000 N/A 2,900,000 2,898,915 0.3% 2,622,280 360
61 N/A 30,000 N/A 2,800,000 2,789,753 0.3% 2,530,702 360
62 N/A 25,000 N/A 2,650,000 2,647,906 0.3% 2,197,016 300
63 33,018 6,720 29,283 2,600,000 2,590,034 0.3% 2,361,062 360
64 19,500 3,886 18,689 2,350,000 2,343,590 0.3% 2,117,087 360
65 N/A 10,500 N/A 2,300,000 2,295,685 0.3% 2,111,665 360
65a N/A 5,250 N/A
65b N/A 2,250 N/A
65c N/A 3,000 N/A
66 N/A 4,065 3,691 2,300,000 2,291,356 0.3% 2,074,043 360
67 N/A 7,525 27,428 2,150,000 2,150,000 0.2% 1,976,843 336
68 N/A 44,250 N/A 2,125,000 2,121,628 0.2% 1,793,851 300
69 N/A 11,100 N/A 2,100,000 2,099,274 0.2% 1,907,031 360
70 N/A 28,000 N/A 2,000,000 1,997,840 0.2% 1,794,869 360
71 N/A 16,897 44,268 2,000,000 1,996,951 0.2% 1,696,919 300
72 N/A 15,000 N/A 1,946,700 1,941,335 0.2% 1,752,137 360
73 12,000 2,735 16,486 1,927,500 1,925,584 0.2% 1,741,834 360
74 12,000 7,295 23,041 1,825,000 1,822,675 0.2% 1,658,491 360
75 N/A 26,000 N/A 1,800,000 1,797,833 0.2% 1,641,912 360
76 N/A 25,000 N/A 1,800,000 1,797,232 0.2% 1,525,607 300
77 N/A 22,000 N/A 1,675,000 1,670,525 0.2% 1,511,764 360
78 N/A 41,500 N/A 1,650,000 1,646,920 0.2% 1,515,528 360
79 N/A 12,000 N/A 1,620,000 1,617,983 0.2% 1,474,480 360
80 N/A 6,368 N/A 1,587,000 1,581,526 0.2% 1,441,482 360
81 N/A 5,789 32,996 1,575,000 1,573,972 0.2% 1,332,692 300
82 12,000 2,649 16,085 1,560,000 1,558,527 0.2% 1,415,462 360
83 N/A 21,000 N/A 1,536,000 1,532,199 0.2% 1,395,402 360
84 N/A 16,567 64,197 1,500,000 1,498,937 0.2% 1,258,607 300
85 N/A 28,500 N/A 1,495,500 1,493,984 0.2% 1,349,289 360
86 N/A 8,250 32,100 1,500,000 1,493,647 0.2% 1,262,274 300
87 N/A 10,500 N/A 1,487,000 1,485,539 0.2% 1,344,985 360
88 N/A 12,416 18,624 1,480,000 1,474,023 0.2% 1,253,513 300
89 N/A 2,416 15,994 1,387,500 1,386,224 0.2% 1,261,465 360
90 N/A 3,024 20,160 1,360,000 1,356,040 0.2% 1,233,024 360
91 N/A 14,500 N/A 1,260,000 1,258,648 0.1% 1,157,517 360
92 N/A 16,500 N/A 1,200,000 1,199,615 0.1% 1,093,834 360
93 N/A 34,000 N/A 1,170,000 1,166,515 0.1% 1,058,849 360
94 N/A 12,000 N/A 1,150,000 1,148,841 0.1% 1,038,043 360
95 N/A 9,000 N/A 1,150,000 1,148,680 0.1% 1,052,191 360
96 N/A 15,500 N/A 1,140,000 1,140,000 0.1% 1,040,938 360
97 N/A 8,000 N/A 1,128,000 1,124,349 0.1% 1,029,760 360
98 N/A 16,250 N/A 1,100,000 1,097,852 0.1% 1,006,508 360
99 N/A 11,000 N/A 1,100,000 1,097,278 0.1% 999,311 360
100 N/A 10,500 N/A 1,100,000 1,095,996 0.1% 994,657 360
101 N/A 15,000 N/A 984,000 981,381 0.1% 932,433 360
102 N/A 3,079 17,160 980,000 978,243 0.1% 903,133 360
103 N/A 9,435 12,960 970,000 959,963 0.1% 701,282 240
104 N/A 11,000 N/A 925,000 923,286 0.1% 850,147 360
105 N/A 11,000 N/A 860,000 857,726 0.1% 776,899 360
106 N/A 17,250 N/A 855,000 852,718 0.1% 780,340 360
107 N/A 7,000 N/A 840,000 839,325 0.1% 813,404 360
108 N/A 5,500 N/A 825,000 823,931 0.1% 748,894 360
109 N/A 16,000 N/A 807,500 806,521 0.1% 736,259 360
110 N/A 9,000 N/A 760,000 760,000 0.1% 649,371 300
111 N/A 6,500 N/A 725,000 724,417 0.1% 702,046 360
112 N/A 4,000 N/A 700,000 699,128 0.1% 637,122 360
113 N/A 5,750 N/A 680,000 679,389 0.1% 619,322 360
114 N/A 4,350 N/A 620,000 619,318 0.1% 568,726 360
115 N/A 756 N/A 620,000 619,018 0.1% 523,522 300
116 N/A 12,000 N/A 619,000 616,951 0.1% 564,104 360
117 N/A 3,250 N/A 610,000 609,786 0.1% 553,452 360
118 N/A 4,953 N/A 600,000 598,837 0.1% 549,355 360
119 N/A 5,750 N/A 575,000 574,538 0.1% 556,794 360
120 N/A 5,000 N/A 570,000 569,542 0.1% 551,953 360
121 N/A 8,750 N/A 560,000 559,014 0.1% 516,820 360
122 N/A 3,450 N/A 510,000 508,762 0.1% 464,036 360
123 N/A 12,500 N/A 500,000 499,303 0.1% 356,938 240
124 N/A 1,500 N/A 500,000 498,802 0.1% 455,437 360
125 N/A 5,723 11,446 500,000 498,009 0.1% 424,273 300
126 N/A 3,000 N/A 465,000 464,560 0.1% 421,822 360
127 N/A 9,500 N/A 450,000 448,991 0.1% 412,029 360
128 N/A 4,585 N/A 388,000 387,652 0.0% 359,916 360
---------------------------------------------------------------------------------
$ 887,588,100 $ 886,241,440 100.0% $798,016,736 357
=================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Initial
Interest
Rem. Orig Rem. Only First
Amort. Term to Term to Period Interest Interest Calculation Monthly Payment
# Term Maturity (8) Maturity (8) (months) Rate (30/360 / Actual/360) Payment Date
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 358 120 118 8.3000% Actual/360 $ 422,679.35 5/1/00
2 358 120 118 8.0051% Actual/360 359,718.87 5/1/00
3 360 144 144 8.8400% Actual/360 329,151.88 7/1/00
4 360 120 120 8.6400% Actual/360 311,542.89 7/1/00
5 359 120 119 8.2000% Actual/360 284,146.69 6/1/00
6 356 120 116 8.0200% Actual/360 268,333.14 3/1/00
7 350 120 110 7.8800% Actual/360 232,133.27 9/1/99
8 358 120 118 8.7400% Actual/360 232,258.95 5/1/00
8a
8b
8c
8d
8e
9 360 120 114 24 8.2300% Actual/360 203,395.31 1/1/00
10 359 120 119 8.3500% Actual/360 200,951.68 6/1/00
11 358 120 118 8.2200% Actual/360 185,491.67 5/1/00
12 359 120 119 8.5900% Actual/360 188,398.12 6/1/00
13 359 120 119 8.5500% Actual/360 101,771.58 6/1/00
14 359 120 119 8.5500% Actual/360 36,498.73 6/1/00
15 359 120 119 8.5500% Actual/360 16,994.12 6/1/00
16 355 120 115 8.4900% Actual/360 141,487.14 2/1/00
16a
16b
16c
17 360 120 117 12 8.8400% Actual/360 84,724.03 4/1/00
18 360 120 117 12 8.8400% Actual/360 28,165.22 4/1/00
19 360 120 117 12 8.8400% Actual/360 21,314.22 4/1/00
20 355 120 115 8.2200% Actual/360 132,039.21 2/1/00
21 355 120 115 8.6300% Actual/360 136,175.46 2/1/00
22 354 120 114 8.5300% Actual/360 133,004.51 1/1/00
23 359 120 119 8.3200% Actual/360 120,990.93 6/1/00
24 355 120 115 8.4900% Actual/360 109,330.07 2/1/00
24a
24b
25 360 120 120 8.1600% Actual/360 89,393.87 7/1/00
26 358 120 118 7.9900% Actual/360 84,302.77 5/1/00
27 359 120 119 8.3800% Actual/360 76,042.52 6/1/00
28 291 120 111 8.7100% Actual/360 79,894.21 10/1/99
29 359 120 119 8.4900% Actual/360 73,747.67 6/1/00
30 355 120 115 8.4900% Actual/360 72,238.74 2/1/00
30a
30b
31 355 120 115 8.2800% Actual/360 67,050.52 2/1/00
32 354 120 114 8.3800% Actual/360 67,259.61 1/1/00
33 353 120 113 8.2200% Actual/360 65,176.80 12/1/99
34 359 120 119 8.2100% Actual/360 62,870.34 6/1/00
35 357 120 117 8.3100% Actual/360 61,950.08 4/1/00
36 355 120 115 8.2400% Actual/360 61,170.94 2/1/00
37 357 120 117 8.6100% Actual/360 62,137.82 4/1/00
38 360 120 120 8.1700% Actual/360 58,608.09 7/1/00
39 300 120 120 8.3600% Actual/360 56,502.83 7/1/00
40 355 120 115 8.2500% Actual/360 52,964.30 2/1/00
41 355 120 115 8.4900% Actual/360 53,364.46 2/1/00
41a
41b
42 359 120 119 8.2700% Actual/360 51,181.77 6/1/00
43 360 120 120 8.3400% Actual/360 46,213.79 7/1/00
44 359 120 119 8.1400% Actual/360 43,571.89 6/1/00
45 299 120 119 8.2500% Actual/360 41,787.86 6/1/00
46 355 120 115 8.8900% Actual/360 41,429.46 2/1/00
47 352 120 112 7.6600% Actual/360 35,510.15 11/1/99
48 356 120 116 8.9500% Actual/360 39,050.09 3/1/00
49 355 120 115 8.6500% Actual/360 37,341.36 2/1/00
50 353 120 113 8.3000% Actual/360 34,342.70 12/1/99
51 355 120 115 8.1300% Actual/360 33,720.81 2/1/00
52 349 120 109 8.1700% Actual/360 30,571.65 8/1/99
53 355 120 115 8.4600% Actual/360 29,111.06 2/1/00
54 359 120 119 8.4400% Actual/360 28,292.62 6/1/00
55 297 120 117 8.6600% Actual/360 30,193.40 4/1/00
56 359 120 119 8.1400% Actual/360 26,767.71 6/1/00
57 356 120 116 8.1100% Actual/360 26,692.10 3/1/00
58 359 120 119 8.5600% Actual/360 25,901.19 6/1/00
59 356 120 116 8.8200% Actual/360 25,888.76 3/1/00
60 359 120 119 8.4700% Actual/360 22,236.86 6/1/00
61 353 120 113 8.4500% Actual/360 21,430.44 12/1/99
62 299 120 119 8.2000% Actual/360 20,805.46 6/1/00
63 352 120 112 8.6500% Actual/360 20,268.80 1/1/99
64 355 120 115 8.3100% Actual/360 17,753.99 2/1/00
65 356 120 116 9.1800% Actual/360 18,804.98 3/1/00
65a
65b
65c
66 353 120 113 8.3500% Actual/360 17,441.09 12/1/99
67 336 120 115 24 8.8500% Actual/360 16,384.79 2/1/00
68 298 120 118 8.8600% Actual/360 17,629.64 5/1/00
69 359 120 119 8.6600% Actual/360 16,385.91 6/1/00
70 358 120 118 8.1500% Actual/360 14,884.96 5/1/00
71 298 120 118 9.0500% Actual/360 16,852.46 5/1/00
72 355 120 115 8.2700% Actual/360 14,652.29 2/1/00
73 358 120 118 8.4500% Actual/360 14,752.56 5/1/00
74 357 120 117 8.6900% Actual/360 14,279.15 4/1/00
75 357 120 117 8.8600% Actual/360 14,302.26 4/1/00
76 298 120 118 9.0100% Actual/360 15,117.86 5/1/00
77 355 120 115 8.3900% Actual/360 12,748.95 2/1/00
78 356 120 116 9.2000% Actual/360 13,514.40 3/1/00
79 357 120 117 8.7600% Actual/360 12,756.12 4/1/00
80 353 120 113 8.6700% Actual/360 12,394.37 12/1/99
81 299 120 119 8.9400% Actual/360 13,152.69 6/1/00
82 358 120 118 8.6300% Actual/360 12,139.07 5/1/00
83 355 120 115 8.6800% Actual/360 12,007.01 2/1/00
84 299 120 119 8.6300% Actual/360 12,210.10 6/1/00
85 358 120 118 8.3800% Actual/360 11,372.16 5/1/00
86 295 120 115 8.7400% Actual/360 12,321.97 2/1/00
87 358 120 118 8.4900% Actual/360 11,423.21 5/1/00
88 295 120 115 8.9800% Actual/360 12,399.84 2/1/00
89 358 120 118 8.7200% Actual/360 10,885.75 5/1/00
90 354 120 114 8.5800% Actual/360 10,534.43 1/1/00
91 357 120 117 9.1900% Actual/360 10,310.97 4/1/00
92 359 120 119 8.8300% Actual/360 9,509.05 6/1/00
93 354 120 114 8.5000% Actual/360 8,996.29 1/1/00
94 358 120 118 8.4000% Actual/360 8,761.13 5/1/00
95 357 120 117 9.0000% Actual/360 9,253.16 4/1/00
96 360 120 120 8.9200% Actual/360 9,107.15 7/1/00
97 353 120 113 8.9000% Actual/360 8,995.10 12/1/99
98 356 120 116 9.0200% Actual/360 8,866.68 3/1/00
99 355 120 115 8.6800% Actual/360 8,598.77 2/1/00
100 353 120 113 8.4700% Actual/360 8,434.67 12/1/99
101 354 84 78 8.8900% Actual/360 7,839.73 1/1/00
102 356 120 116 9.3600% Actual/360 8,140.46 3/1/00
103 233 120 113 8.7300% Actual/360 8,559.62 12/1/99
104 356 120 116 9.2300% Actual/360 7,596.35 3/1/00
105 355 120 115 8.4300% Actual/360 6,570.04 2/1/00
106 354 120 114 8.8800% Actual/360 6,805.83 1/1/00
107 358 60 58 9.1700% Actual/360 6,861.83 5/1/00
108 357 120 117 8.6400% Actual/360 6,425.57 4/1/00
109 357 120 117 8.8400% Actual/360 6,404.58 4/1/00
110 300 120 120 9.3200% Actual/360 6,545.25 7/1/00
111 358 60 58 9.1700% Actual/360 5,922.41 5/1/00
112 357 120 117 8.7600% Actual/360 5,511.90 4/1/00
113 358 120 118 8.8000% Actual/360 5,373.86 5/1/00
114 357 120 117 9.1200% Actual/360 5,042.29 4/1/00
115 298 120 118 8.8700% Actual/360 5,147.94 5/1/00
116 353 120 113 8.8200% Actual/360 4,900.66 12/1/99
117 359 120 119 8.6200% Actual/360 4,742.35 6/1/00
118 356 120 116 9.0500% Actual/360 4,849.34 3/1/00
119 358 60 58 9.1700% Actual/360 4,697.09 5/1/00
120 358 60 58 9.1700% Actual/360 4,656.24 5/1/00
121 356 120 116 9.4300% Actual/360 4,680.21 3/1/00
122 355 120 115 8.7500% Actual/360 4,012.17 2/1/00
123 239 120 119 8.3500% Actual/360 4,291.76 6/1/00
124 355 120 115 8.8000% Actual/360 3,951.37 2/1/00
125 295 120 115 9.0500% Actual/360 4,213.11 2/1/00
126 358 120 118 8.6200% Actual/360 3,615.07 5/1/00
127 355 120 115 9.0400% Actual/360 3,633.76 2/1/00
128 357 120 117 9.6600% Actual/360 3,307.90 4/1/00
------------------------------------------ ------------ -----------------
354 121 118 8.4010% $ 6,761,916.21
========================================== ============ =================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Original Original
Lockout Open Lockout
Maturity Prepayment Provision Period Period Expiration
# Date ARD (9) Seasoning as of Origination (10) (Months) (Months) Defeasance (11) Date
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
2 4/1/30 4/1/10 2 L (10.0), O (0.0) 120 0 Yes 4/1/10
3 6/1/12 0 L (11.75), O (0.25) 141 3 Yes 3/1/12
4 6/1/10 0 L (9.75), O (0.25) 117 3 Yes 3/1/10
5 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
6 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
7 8/1/09 10 L (9.5), O (0.5) 114 6 Yes 2/1/09
8 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
8a
8b
8c
8d
8e
9 12/1/09 6 L (9.5), O (0.5) 114 6 Yes 6/1/09
10 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
11 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
12 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
13 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
14 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
15 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
16 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
16a
16b
16c
17 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
18 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
19 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
20 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
21 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
22 12/1/29 12/1/09 6 L (9.5), O (0.5) 114 6 Yes 6/1/09
23 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
24 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
24a
24b
25 6/1/10 0 L (9.5), O (0.5) 114 6 Yes 12/1/09
26 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
27 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
28 9/1/09 9 L (9.5), O (0.5) 114 6 Yes 3/1/09
29 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
30 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
30a
30b
31 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
32 12/1/09 6 L (9.5), O (0.5) 114 6 Yes 6/1/09
33 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
34 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
35 3/1/30 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
36 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
37 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
38 6/1/10 0 L (9.5), O (0.5) 114 6 Yes 12/1/09
39 6/1/10 0 L (9.5), O (0.5) 114 6 Yes 12/1/09
40 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
41 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
41a
41b
42 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
43 6/1/10 0 L (9.5), O (0.5) 114 6 Yes 12/1/09
44 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
45 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
46 1/1/30 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
47 10/1/09 8 L (9.5), O (0.5) 114 6 Yes 4/1/09
48 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
49 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
50 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
51 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
52 7/1/09 11 L (9.5), O (0.5) 114 6 Yes 1/1/09
53 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
54 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
55 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
56 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
57 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
58 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
59 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
60 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
61 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
62 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
63 10/1/09 8 L (9.5), O (0.5) 114 6 Yes 4/1/09
64 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
65 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
65a
65b
65c
66 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
67 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
68 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
69 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
70 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
71 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
72 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
73 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
74 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
75 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
76 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
77 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
78 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
79 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
80 5/1/21 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
81 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
82 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
83 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
84 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
85 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
86 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
87 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
88 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
89 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
90 12/1/09 6 L (9.5), O (0.5) 114 6 Yes 6/1/09
91 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
92 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
93 12/1/09 6 L (9.5), O (0.5) 114 6 Yes 6/1/09
94 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
95 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
96 6/1/10 0 L (9.5), O (0.5) 114 6 Yes 12/1/09
97 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
98 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
99 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
100 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
101 12/1/06 6 L (6.5), O (0.5) 78 6 Yes 6/1/06
102 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
103 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
104 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
105 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
106 12/1/09 6 L (9.5), O (0.5) 114 6 Yes 6/1/09
107 4/1/05 2 L (4.5), O (0.5) 54 6 Yes 10/1/04
108 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
109 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
110 6/1/10 0 L (9.5), O (0.5) 114 6 Yes 12/1/09
111 4/1/05 2 L (4.5), O (0.5) 54 6 Yes 10/1/04
112 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
113 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
114 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
115 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
116 11/1/09 7 L (9.5), O (0.5) 114 6 Yes 5/1/09
117 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
118 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
119 4/1/05 2 L (4.5), O (0.5) 54 6 Yes 10/1/04
120 4/1/05 2 L (4.5), O (0.5) 54 6 Yes 10/1/04
121 2/1/10 4 L (9.5), O (0.5) 114 6 Yes 8/1/09
122 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
123 5/1/10 1 L (9.5), O (0.5) 114 6 Yes 11/1/09
124 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
125 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
126 4/1/10 2 L (9.5), O (0.5) 114 6 Yes 10/1/09
127 1/1/10 5 L (9.5), O (0.5) 114 6 Yes 7/1/09
128 3/1/10 3 L (9.5), O (0.5) 114 6 Yes 9/1/09
-------------
3
=============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Utilities Subject Subject Subject Subject Subject Subject Subject
Hotel Multifamily Tenant Multifamily Studio Studio Studio 1 BR 1 BR 1 BR 2 BR
# Franchise Pays Elevators Units Avg. Rent Max. Rent Units Avg. Rent Max. Rent Units
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
2 N/A Electric 0 N/A N/A N/A 180 $1,299 $1,500 252
3 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
4 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
5 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
6 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
7 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
8
8a N/A N/A N/A 1 $415 $415 71 $516 $535 102
8b N/A N/A N/A N/A N/A N/A 152 $493 $525 104
8c N/A N/A N/A N/A N/A N/A 172 $496 $615 88
8d N/A N/A N/A N/A N/A N/A 128 $528 $625 32
8e N/A N/A N/A N/A N/A N/A 112 $507 $575 32
9 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
10 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
11 N/A Electric/Gas 1 N/A N/A N/A 156 $718 $785 323
12 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
13 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
14 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
16
16a N/A N/A N/A N/A N/A N/A 100 $493 $520 152
16b N/A N/A N/A 60 $425 $445 132 $498 $555 54
16c N/A N/A N/A N/A N/A N/A 104 $520 $580 64
17 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
19 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
20 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
21 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
22 N/A Electric 7 130 $541 $1,300 208 $778 $1,600 78
23 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24
24a N/A N/A N/A N/A N/A N/A 171 $450 $495 104
24b N/A N/A N/A N/A N/A N/A 176 $470 $520 56
25 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
26 N/A Electric/Water/Sewer 0 N/A N/A N/A 48 $608 $662 192
27 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
28 Holiday Inn N/A N/A N/A N/A N/A N/A N/A N/A N/A
29 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
30
30a N/A N/A N/A N/A N/A N/A 106 $688 $805 21
30b N/A N/A N/A N/A N/A N/A 56 $435 $445 101
31 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
32 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
33 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
34 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
35 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
36 N/A Electric/Gas 0 N/A N/A N/A 80 $502 $550 168
37 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
38 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
39 N/A Electric 0 72 $423 $465 108 $512 $555 90
40 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
41
41a N/A N/A N/A N/A N/A N/A 92 $553 $630 60
41b N/A N/A N/A N/A N/A N/A 80 $608 $680 6
42 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
43 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
44 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
45 N/A Electric 0 N/A N/A N/A N/A N/A N/A 102
46 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
47 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
48 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
49 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
50 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
51 N/A Electric 0 N/A N/A N/A N/A N/A N/A 96
52 N/A Electric/Gas 0 N/A N/A N/A 1 $350 $350 187
53 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
54 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
55 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
56 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
57 N/A Electric 1 N/A N/A N/A 30 $505 $520 52
58 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
59 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
60 N/A Electric 0 N/A N/A N/A N/A N/A N/A 96
61 N/A Electric 2 2 $450 $475 34 $577 $600 84
62 N/A Electric 0 60 $410 $440 21 $480 $525 18
63 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
64 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
65
65a N/A N/A N/A N/A N/A N/A 10 $720 $800 11
65b N/A N/A N/A N/A N/A N/A 4 $919 $950 5
65c N/A N/A N/A N/A N/A N/A 12 $775 $1,000 N/A
66 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
67 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
68 N/A Electric 0 2 $325 $325 123 $359 $435 51
69 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
70 N/A Electric 0 N/A N/A N/A 88 $391 $420 24
71 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
72 N/A Electric/Water/Sewer 0 N/A N/A N/A 8 $447 $460 52
73 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
74 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
75 N/A Electric 0 N/A N/A N/A N/A N/A N/A 88
76 N/A Electric 0 N/A N/A N/A 24 $422 $450 68
77 N/A Electric 0 N/A N/A N/A 60 $374 $425 16
78 N/A Electric/Gas 0 N/A N/A N/A 58 $394 $435 68
79 N/A Electric 0 N/A N/A N/A 12 $511 $520 32
80 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
81 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
82 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
83 N/A Electric 0 40 $407 $410 22 $444 $460 22
84 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
85 N/A Electric 0 N/A N/A N/A 86 $336 $450 28
86 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
87 N/A Electric 0 N/A N/A N/A N/A N/A N/A 34
88 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
89 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
90 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
91 N/A Electric/Gas 0 N/A N/A N/A 39 $441 $470 17
92 N/A Electric 0 N/A N/A N/A 64 $351 $375 2
93 N/A Electric 2 N/A N/A N/A 125 $327 $485 11
94 N/A Electric 0 N/A N/A N/A 1 $485 $485 47
95 N/A Electric/Gas 0 N/A N/A N/A 8 $477 $500 N/A
96 N/A Electric/Gas/Water/Sewer 0 N/A N/A N/A 54 $426 $455 8
97 N/A Electric 0 N/A N/A N/A 18 $558 $595 14
98 N/A Electric/Gas 1 24 $443 $685 25 $565 $565 16
99 N/A Electric/Water/Sewer 0 N/A N/A N/A 1 $400 $400 43
100 N/A Electric 0 N/A N/A N/A 12 $469 $485 30
101 N/A Electric 0 N/A N/A N/A 30 $339 $405 30
102 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
103 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
104 N/A Electric 0 N/A N/A N/A 44 $424 $450 N/A
105 N/A Electric 0 N/A N/A N/A 20 $409 $425 24
106 N/A Electric/Gas/Water 0 N/A N/A N/A 30 $458 $475 20
107 N/A Electric 0 8 $471 $515 8 $591 $625 12
108 N/A Electric/Gas 0 N/A N/A N/A 11 $603 $635 11
109 N/A Electric 0 N/A N/A N/A 32 $371 $411 32
110 N/A Electric 0 N/A N/A N/A 16 $403 $425 20
111 N/A Electric 0 N/A N/A N/A 12 $550 $585 14
112 N/A Water 0 N/A N/A N/A N/A N/A N/A N/A
113 N/A Electric 0 N/A N/A N/A 18 $614 $676 5
114 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
115 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
116 N/A Electric 0 N/A N/A N/A 16 $323 $365 32
117 N/A Electric 0 N/A N/A N/A 9 $657 $758 4
118 N/A Electric/Gas/Water/Sewer 0 N/A N/A N/A 6 $527 $530 9
119 N/A Electric 0 N/A N/A N/A 10 $529 $605 13
120 N/A Electric 0 N/A N/A N/A 5 $574 $625 15
121 N/A Electric 0 6 $305 $315 23 $377 $395 6
122 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
123 N/A Electric 0 23 $376 $420 26 $501 $600 1
124 N/A Electric 0 N/A N/A N/A N/A N/A N/A 6
125 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
126 N/A Electric 0 6 $473 $525 6 $714 $795 N/A
127 N/A Electric 0 N/A N/A N/A 17 $344 $350 21
128 N/A Electric 0 N/A N/A N/A 12 $442 $475 6
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Subject Subject Subject Subject Subject Subject Subject Subject Major
2 BR 2 BR 3 BR 3 BR 3 BR 4 BR 4 BR 4 BR Tenant #1
# Avg. Rent Max. Rent Units Avg. Rent Max. Rent Units Avg. Rent Max. Rent Name
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 N/A N/A N/A N/A N/A N/A N/A N/A United Illuminating
2 $1,625 $1,805 N/A N/A N/A N/A N/A N/A N/A
3 N/A N/A N/A N/A N/A N/A N/A N/A Reliance Insurance Company
4 N/A N/A N/A N/A N/A N/A N/A N/A Grey Advertising, Inc.
5 N/A N/A N/A N/A N/A N/A N/A N/A Kohls
6 N/A N/A N/A N/A N/A N/A N/A N/A Sprint Communications, Inc.
7 N/A N/A N/A N/A N/A N/A N/A N/A Linens N' Things
8
8a $627 $675 44 $795 $795 N/A N/A N/A N/A
8b $629 $635 N/A N/A N/A N/A N/A N/A N/A
8c $630 $675 N/A N/A N/A N/A N/A N/A N/A
8d $681 $725 N/A N/A N/A N/A N/A N/A N/A
8e $670 $765 N/A N/A N/A N/A N/A N/A N/A
9 N/A N/A N/A N/A N/A N/A N/A N/A Fry's Food Store
10 N/A N/A N/A N/A N/A N/A N/A N/A Circuit City
11 $868 $955 3 $950 $965 N/A N/A N/A N/A
12 N/A N/A N/A N/A N/A N/A N/A N/A Department of Central Mgt. Services
13 N/A N/A N/A N/A N/A N/A N/A N/A N/A
14 N/A N/A N/A N/A N/A N/A N/A N/A N/A
15 N/A N/A N/A N/A N/A N/A N/A N/A N/A
16
16a $598 $635 N/A N/A N/A N/A N/A N/A N/A
16b $660 $720 N/A N/A N/A N/A N/A N/A N/A
16c $679 $725 N/A N/A N/A N/A N/A N/A N/A
17 N/A N/A N/A N/A N/A N/A N/A N/A N/A
18 N/A N/A N/A N/A N/A N/A N/A N/A N/A
19 N/A N/A N/A N/A N/A N/A N/A N/A N/A
20 N/A N/A N/A N/A N/A N/A N/A N/A Legato Systems, Inc.
21 N/A N/A N/A N/A N/A N/A N/A N/A First USA Management
22 $1,153 $1,800 N/A N/A N/A N/A N/A N/A N/A
23 N/A N/A N/A N/A N/A N/A N/A N/A Paradyne Corporation
24
24a $718 $790 N/A N/A N/A N/A N/A N/A N/A
24b $616 $680 N/A N/A N/A N/A N/A N/A N/A
25 N/A N/A N/A N/A N/A N/A N/A N/A Petco Animal Supply
26 $711 $777 16 $911 $952 N/A N/A N/A N/A
27 N/A N/A N/A N/A N/A N/A N/A N/A Cambridge Soundworks, Inc.
28 N/A N/A N/A N/A N/A N/A N/A N/A N/A
29 N/A N/A N/A N/A N/A N/A N/A N/A N/A
30
30a $879 $1,070 N/A N/A N/A N/A N/A N/A N/A
30b $512 $625 14 $650 $660 N/A N/A N/A N/A
31 N/A N/A N/A N/A N/A N/A N/A N/A Morpace International
32 N/A N/A N/A N/A N/A N/A N/A N/A Furniture Trading Company
33 N/A N/A N/A N/A N/A N/A N/A N/A Tops Friendly Market
34 N/A N/A N/A N/A N/A N/A N/A N/A Haggens Supermarket
35 N/A N/A N/A N/A N/A N/A N/A N/A Dyncorp
36 $560 $615 N/A N/A N/A N/A N/A N/A N/A
37 N/A N/A N/A N/A N/A N/A N/A N/A Wal-Mart
38 N/A N/A N/A N/A N/A N/A N/A N/A Circuit City Stores, Inc.
39 $642 $760 9 $974 $1,025 N/A N/A N/A N/A
40 N/A N/A N/A N/A N/A N/A N/A N/A SavMax
41
41a $665 $700 N/A N/A N/A N/A N/A N/A N/A
41b $735 $775 N/A N/A N/A N/A N/A N/A N/A
42 N/A N/A N/A N/A N/A N/A N/A N/A General Electric Capital Corp.
43 N/A N/A N/A N/A N/A N/A N/A N/A Lucky Stores, Inc.
44 N/A N/A N/A N/A N/A N/A N/A N/A South Shore Elder Services, Inc.
45 $543 $585 45 $639 $685 N/A N/A N/A N/A
46 N/A N/A N/A N/A N/A N/A N/A N/A Support Systems Assoc.
47 N/A N/A N/A N/A N/A N/A N/A N/A Stein Mart
48 N/A N/A N/A N/A N/A N/A N/A N/A N/A
49 N/A N/A N/A N/A N/A N/A N/A N/A Top Cue, Inc.
50 N/A N/A N/A N/A N/A N/A N/A N/A Kragen Auto Parts
51 $733 $790 N/A N/A N/A N/A N/A N/A N/A
52 $428 $455 69 $648 $680 N/A N/A N/A N/A
53 N/A N/A N/A N/A N/A N/A N/A N/A N/A
54 N/A N/A N/A N/A N/A N/A N/A N/A Capital Auto Body
55 N/A N/A N/A N/A N/A N/A N/A N/A Berkeley Enterprise Partners
56 N/A N/A N/A N/A N/A N/A N/A N/A Office Depot
57 $618 $630 26 $723 $730 12 $815 $821 N/A
58 N/A N/A N/A N/A N/A N/A N/A N/A Ralph C. Tyler, P.E., P.S. Inc.
59 N/A N/A N/A N/A N/A N/A N/A N/A CU Mortgage Services, Inc.
60 $672 $750 N/A N/A N/A N/A N/A N/A N/A
61 $674 $700 N/A N/A N/A N/A N/A N/A N/A
62 $606 $620 1 $704 $704 N/A N/A N/A N/A
63 N/A N/A N/A N/A N/A N/A N/A N/A Pete Miller's Steakhouse
64 N/A N/A N/A N/A N/A N/A N/A N/A U.S. Post Office
65
65a $911 $1,000 N/A N/A N/A N/A N/A N/A N/A
65b $1,235 $1,350 N/A N/A N/A N/A N/A N/A N/A
65c N/A N/A N/A N/A N/A N/A N/A N/A N/A
66 N/A N/A N/A N/A N/A N/A N/A N/A OfficeMax
67 N/A N/A N/A N/A N/A N/A N/A N/A C & C Beauty & Beyond
68 $514 $550 1 $612 $612 N/A N/A N/A N/A
69 N/A N/A N/A N/A N/A N/A N/A N/A N/A
70 $552 $600 N/A N/A N/A N/A N/A N/A N/A
71 N/A N/A N/A N/A N/A N/A N/A N/A N/A
72 $521 $600 N/A N/A N/A N/A N/A N/A N/A
73 N/A N/A N/A N/A N/A N/A N/A N/A RxMarketplace.com, Inc.
74 N/A N/A N/A N/A N/A N/A N/A N/A Don Jose's
75 $455 $510 16 $490 $525 N/A N/A N/A N/A
76 $519 $575 8 $650 $670 N/A N/A N/A N/A
77 $514 $585 12 $644 $675 N/A N/A N/A N/A
78 $476 $525 40 $581 $630 N/A N/A N/A N/A
79 $636 $640 4 $660 $665 N/A N/A N/A N/A
80 N/A N/A N/A N/A N/A N/A N/A N/A Pamida, Inc.
81 N/A N/A N/A N/A N/A N/A N/A N/A N/A
82 N/A N/A N/A N/A N/A N/A N/A N/A Dollar Tree
83 $555 $565 N/A N/A N/A N/A N/A N/A N/A
84 N/A N/A N/A N/A N/A N/A N/A N/A Bonus Foods
85 $440 $495 N/A N/A N/A N/A N/A N/A N/A
86 N/A N/A N/A N/A N/A N/A N/A N/A Healthdent Dental
87 $607 $625 8 $616 $700 N/A N/A N/A N/A
88 N/A N/A N/A N/A N/A N/A N/A N/A Friendly Ice Cream Corporation
89 N/A N/A N/A N/A N/A N/A N/A N/A Party Gallery
90 N/A N/A N/A N/A N/A N/A N/A N/A Tri-State Armored
91 $624 $760 2 $760 $760 N/A N/A N/A N/A
92 $450 $450 N/A N/A N/A N/A N/A N/A N/A
93 $423 $485 N/A N/A N/A N/A N/A N/A N/A
94 $570 $625 N/A N/A N/A N/A N/A N/A N/A
95 N/A N/A 28 $675 $725 N/A N/A N/A N/A
96 $544 $565 N/A N/A N/A N/A N/A N/A N/A
97 $657 $695 N/A N/A N/A N/A N/A N/A N/A
98 $681 $730 N/A N/A N/A N/A N/A N/A N/A
99 $517 $585 N/A N/A N/A N/A N/A N/A N/A
100 $522 $540 N/A N/A N/A N/A N/A N/A N/A
101 $442 $485 N/A N/A N/A N/A N/A N/A N/A
102 N/A N/A N/A N/A N/A N/A N/A N/A Blockbuster Video
103 N/A N/A N/A N/A N/A N/A N/A N/A Belle Delivery Systems, LLC
104 N/A N/A N/A N/A N/A N/A N/A N/A N/A
105 $443 $460 N/A N/A N/A N/A N/A N/A N/A
106 $609 $755 2 $823 $830 N/A N/A N/A N/A
107 $774 $855 N/A N/A N/A N/A N/A N/A N/A
108 $824 $835 N/A N/A N/A N/A N/A N/A N/A
109 $467 $485 N/A N/A N/A N/A N/A N/A N/A
110 $494 $535 N/A N/A N/A N/A N/A N/A N/A
111 $686 $725 N/A N/A N/A N/A N/A N/A N/A
112 N/A N/A 16 $862 $875 N/A N/A N/A N/A
113 $681 $750 N/A N/A N/A N/A N/A N/A N/A
114 N/A N/A N/A N/A N/A N/A N/A N/A N/A
115 N/A N/A N/A N/A N/A N/A N/A N/A Hollywood Entertainment Corporation
116 $392 $395 N/A N/A N/A N/A N/A N/A N/A
117 $787 $900 N/A N/A N/A N/A N/A N/A N/A
118 $625 $625 N/A N/A N/A 1 $850 $850 N/A
119 $705 $750 N/A N/A N/A N/A N/A N/A N/A
120 $643 $705 N/A N/A N/A N/A N/A N/A N/A
121 $503 $515 N/A N/A N/A N/A N/A N/A N/A
122 N/A N/A N/A N/A N/A N/A N/A N/A N/A
123 $630 $630 N/A N/A N/A N/A N/A N/A N/A
124 $1,475 $1,850 N/A N/A N/A N/A N/A N/A N/A
125 N/A N/A N/A N/A N/A N/A N/A N/A Nova Label Co.
126 N/A N/A N/A N/A N/A N/A N/A N/A N/A
127 $414 $450 N/A N/A N/A N/A N/A N/A N/A
128 $546 $560 N/A N/A N/A N/A N/A N/A N/A
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Major Major Major Major Major
Tenant #1 Tenant #1 Lease Tenant #2 Tenant #2 Tenant #2 Lease
# Sq. Ft. Expiration Date Name Sq. Ft. Expiration Date
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1 218,438 4/1/12 GSA 70,338 10/1/02
2 N/A N/A N/A N/A N/A
3 297,162 2/29/12 Citicorp North America, Inc. 84,800 5/31/08
4 428,132 12/31/09 N/A N/A N/A
5 86,584 1/31/20 Orion Linens 'N Things, Inc. 34,886 1/31/15
6 96,749 8/1/06 Vividence, Inc. 38,336 1/1/05
7 41,018 1/31/14 Mann Theatres 35,764 6/30/18
8
8a N/A N/A N/A N/A N/A
8b N/A N/A N/A N/A N/A
8c N/A N/A N/A N/A N/A
8d N/A N/A N/A N/A N/A
8e N/A N/A N/A N/A N/A
9 62,178 8/1/21 United Artists Theatres 40,867 12/1/16
10 35,497 2/1/02 Stater Brothers 35,232 12/1/06
11 N/A N/A N/A N/A N/A
12 252,845 10/31/03 Robert Morris College, Inc. 206,094 6/30/12
13 N/A N/A N/A N/A N/A
14 N/A N/A N/A N/A N/A
15 N/A N/A N/A N/A N/A
16
16a N/A N/A N/A N/A N/A
16b N/A N/A N/A N/A N/A
16c N/A N/A N/A N/A N/A
17 N/A N/A N/A N/A N/A
18 N/A N/A N/A N/A N/A
19 N/A N/A N/A N/A N/A
20 52,500 2/14/07 VTEL Corporation 52,500 3/14/08
21 161,345 2/28/09 Electronic Data Systems Corp. 48,282 12/31/01
22 N/A N/A N/A N/A N/A
23 332,689 6/30/12 N/A N/A N/A
24
24a N/A N/A N/A N/A N/A
24b N/A N/A N/A N/A N/A
25 18,000 1/1/10 Michaels Stores 17,600 3/1/01
26 N/A N/A N/A N/A N/A
27 108,000 11/1/04 Boston Edison Company 45,685 12/1/02
28 N/A N/A N/A N/A N/A
29 N/A N/A N/A N/A N/A
30
30a N/A N/A N/A N/A N/A
30b N/A N/A N/A N/A N/A
31 47,165 12/1/02 Sundance 12,144 5/1/02
32 5,175 9/30/09 Market City Caffe 4,500 8/31/09
33 59,850 3/31/07 Marshalls 28,905 3/1/06
34 53,500 12/31/24 N/A N/A N/A
35 76,589 2/29/12 N/A N/A N/A
36 N/A N/A N/A N/A N/A
37 103,161 1/1/03 Food World 43,200 5/1/02
38 41,536 1/1/16 N/A N/A N/A
39 N/A N/A N/A N/A N/A
40 49,950 9/1/14 N/A N/A N/A
41
41a N/A N/A N/A N/A N/A
41b N/A N/A N/A N/A N/A
42 54,034 1/14/04 Trendsetters Marketing Intl. 19,818 12/31/04
43 43,227 8/1/15 N/A N/A N/A
44 11,319 8/1/00 N/A N/A N/A
45 N/A N/A N/A N/A N/A
46 19,938 2/1/02 ARINC 17,150 12/1/99
47 34,000 4/30/14 Shoe Pavilion 7,800 9/19/04
48 N/A N/A N/A N/A N/A
49 8,280 4/1/08 Consumer Credit Counseling 6,447 12/1/03
50 6,520 1/31/05 True Value Hardware 6,480 2/28/08
51 N/A N/A N/A N/A N/A
52 N/A N/A N/A N/A N/A
53 N/A N/A N/A N/A N/A
54 8,649 11/1/03 N/A N/A N/A
55 7,656 11/30/04 Maksou, Inc. 5,444 8/31/09
56 30,100 6/30/14 Gowns by Demetrios 6,000 2/28/10
57 N/A N/A N/A N/A N/A
58 17,767 3/31/07 Capstone Realty Advisors LLC 8,359 7/31/08
59 11,662 7/1/02 Macquire Agency, Inc. 11,218 10/1/02
60 N/A N/A N/A N/A N/A
61 N/A N/A N/A N/A N/A
62 N/A N/A N/A N/A N/A
63 13,452 9/1/04 Teska & Associates 4,970 MTM
64 7,148 10/31/19 Mohave Pizza, Inc. - Pizza Hut 2,863 2/29/04
65
65a N/A N/A N/A N/A N/A
65b N/A N/A N/A N/A N/A
65c N/A N/A N/A N/A N/A
66 23,500 1/31/15 99 Cent Variety Store 3,600 11/30/04
67 16,830 12/1/04 Jo-Ann Fabrics (Cloth World) 13,075 5/1/01
68 N/A N/A N/A N/A N/A
69 N/A N/A N/A N/A N/A
70 N/A N/A N/A N/A N/A
71 N/A N/A N/A N/A N/A
72 N/A N/A N/A N/A N/A
73 11,645 9/30/04 MediVance, Inc. 7,024 4/30/04
74 7,287 8/1/04 Newsland 5,894 MTM
75 N/A N/A N/A N/A N/A
76 N/A N/A N/A N/A N/A
77 N/A N/A N/A N/A N/A
78 N/A N/A N/A N/A N/A
79 N/A N/A N/A N/A N/A
80 42,476 5/22/21 N/A N/A N/A
81 N/A N/A N/A N/A N/A
82 4,600 7/1/04 Fashion Cents 3,200 7/1/04
83 N/A N/A N/A N/A N/A
84 21,304 7/31/01 N/A N/A N/A
85 N/A N/A N/A N/A N/A
86 4,100 6/30/06 Rose Garden 4,000 2/14/02
87 N/A N/A N/A N/A N/A
88 62,080 6/24/09 N/A N/A N/A
89 2,500 5/31/04 Sushi Inaki 2,360 12/31/03
90 4,650 3/31/02 West Coast Video 4,335 12/31/05
91 N/A N/A N/A N/A N/A
92 N/A N/A N/A N/A N/A
93 N/A N/A N/A N/A N/A
94 N/A N/A N/A N/A N/A
95 N/A N/A N/A N/A N/A
96 N/A N/A N/A N/A N/A
97 N/A N/A N/A N/A N/A
98 N/A N/A N/A N/A N/A
99 N/A N/A N/A N/A N/A
100 N/A N/A N/A N/A N/A
101 N/A N/A N/A N/A N/A
102 6,302 10/1/04 Cousins Restar 2,987 6/1/03
103 43,200 9/30/19 N/A N/A N/A
104 N/A N/A N/A N/A N/A
105 N/A N/A N/A N/A N/A
106 N/A N/A N/A N/A N/A
107 N/A N/A N/A N/A N/A
108 N/A N/A N/A N/A N/A
109 N/A N/A N/A N/A N/A
110 N/A N/A N/A N/A N/A
111 N/A N/A N/A N/A N/A
112 N/A N/A N/A N/A N/A
113 N/A N/A N/A N/A N/A
114 N/A N/A N/A N/A N/A
115 5,040 10/22/14 N/A N/A N/A
116 N/A N/A N/A N/A N/A
117 N/A N/A N/A N/A N/A
118 N/A N/A N/A N/A N/A
119 N/A N/A N/A N/A N/A
120 N/A N/A N/A N/A N/A
121 N/A N/A N/A N/A N/A
122 N/A N/A N/A N/A N/A
123 N/A N/A N/A N/A N/A
124 N/A N/A N/A N/A N/A
125 9,524 3/31/01 Benjamin K. Brookman 4,800 7/31/02
126 N/A N/A N/A N/A N/A
127 N/A N/A N/A N/A N/A
128 N/A N/A N/A N/A N/A
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Major Major Major
Tenant #3 Tenant #3 Tenant #3 Lease
# Name Sq. Ft. Expiration Date
----------------------------------------------------------------------------
<S> <C> <C> <C>
1 Fleet Bank 60,229 3/1/06
2 N/A N/A N/A
3 N/A N/A N/A
4 N/A N/A N/A
5 N/A N/A N/A
6 N/A N/A N/A
7 The Good Guys!/WOW 31,263 5/31/18
8
8a N/A N/A N/A
8b N/A N/A N/A
8c N/A N/A N/A
8d N/A N/A N/A
8e N/A N/A N/A
9 N/A N/A N/A
10 Holiday Spa 28,300 9/1/08
11 N/A N/A N/A
12 N/A N/A N/A
13 N/A N/A N/A
14 N/A N/A N/A
15 N/A N/A N/A
16
16a N/A N/A N/A
16b N/A N/A N/A
16c N/A N/A N/A
17 N/A N/A N/A
18 N/A N/A N/A
19 N/A N/A N/A
20 N/A N/A N/A
21 N/A N/A N/A
22 N/A N/A N/A
23 N/A N/A N/A
24
24a N/A N/A N/A
24b N/A N/A N/A
25 Staples 17,000 11/1/07
26 N/A N/A N/A
27 N/A N/A N/A
28 N/A N/A N/A
29 N/A N/A N/A
30
30a N/A N/A N/A
30b N/A N/A N/A
31 Sachse Construction 11,997 10/1/04
32 N/A N/A N/A
33 OfficeMax 20,000 1/31/02
34 N/A N/A N/A
35 N/A N/A N/A
36 N/A N/A N/A
37 N/A N/A N/A
38 N/A N/A N/A
39 N/A N/A N/A
40 N/A N/A N/A
41
41a N/A N/A N/A
41b N/A N/A N/A
42 N/A N/A N/A
43 N/A N/A N/A
44 N/A N/A N/A
45 N/A N/A N/A
46 Modern Technologies 8,000 6/1/00
47 Yamato Restaurant 6,510 2/28/10
48 N/A N/A N/A
49 N/A N/A N/A
50 N/A N/A N/A
51 N/A N/A N/A
52 N/A N/A N/A
53 N/A N/A N/A
54 N/A N/A N/A
55 International Insurance Group 3,828 5/31/04
56 N/A N/A N/A
57 N/A N/A N/A
58 N/A N/A N/A
59 Lundquist, Wilmar, Potvin & Bender, Inc. 9,954 9/1/04
60 N/A N/A N/A
61 N/A N/A N/A
62 N/A N/A N/A
63 N/A N/A N/A
64 N/A N/A N/A
65
65a N/A N/A N/A
65b N/A N/A N/A
65c N/A N/A N/A
66 N/A N/A N/A
67 N/A N/A N/A
68 N/A N/A N/A
69 N/A N/A N/A
70 N/A N/A N/A
71 N/A N/A N/A
72 N/A N/A N/A
73 LamPac, Inc. 6,308 11/30/04
74 A & J Tire and Auto Service 4,960 5/1/03
75 N/A N/A N/A
76 N/A N/A N/A
77 N/A N/A N/A
78 N/A N/A N/A
79 N/A N/A N/A
80 N/A N/A N/A
81 N/A N/A N/A
82 N/A N/A N/A
83 N/A N/A N/A
84 N/A N/A N/A
85 N/A N/A N/A
86 N/A N/A N/A
87 N/A N/A N/A
88 N/A N/A N/A
89 Excel Cleaners 2,000 12/31/03
90 Capitol Bagels 2,420 6/30/07
91 N/A N/A N/A
92 N/A N/A N/A
93 N/A N/A N/A
94 N/A N/A N/A
95 N/A N/A N/A
96 N/A N/A N/A
97 N/A N/A N/A
98 N/A N/A N/A
99 N/A N/A N/A
100 N/A N/A N/A
101 N/A N/A N/A
102 Radio Shack 2,200 9/1/02
103 N/A N/A N/A
104 N/A N/A N/A
105 N/A N/A N/A
106 N/A N/A N/A
107 N/A N/A N/A
108 N/A N/A N/A
109 N/A N/A N/A
110 N/A N/A N/A
111 N/A N/A N/A
112 N/A N/A N/A
113 N/A N/A N/A
114 N/A N/A N/A
115 N/A N/A N/A
116 N/A N/A N/A
117 N/A N/A N/A
118 N/A N/A N/A
119 N/A N/A N/A
120 N/A N/A N/A
121 N/A N/A N/A
122 N/A N/A N/A
123 N/A N/A N/A
124 N/A N/A N/A
125 N/A N/A N/A
126 N/A N/A N/A
127 N/A N/A N/A
128 N/A N/A N/A
</TABLE>
