SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
and Exchange Act of 1934
Date of Report: 09/25/98
(Date of earliest event reported)
JP Morgan Commercial Mortgage Finance Corp.
Commercial Mortgage Pass-Through Series 1996-C2
(Exact name of registrant as specified in governing instruments)
New York
(State or other Jurisdiction of Incorporation)
c/o State Street Bank and Trust Company
Corporate Trust Department
Two International Place, 5th Floor
Boston, MA 02110
(Address of Principal Executive Offices) (Zip Code)
(202) 664-5500
(Registrant's telephone number, including area code)
Commission File Number 333-16397
04-3342274(I.R.S. Employer Identification No.)
Not Applicable
(Former name, former address and former fiscal year if changed
since last report)
<PAGE>
JP Morgan Commercial Mortgage Finance Corp.
Commercial Mortgage Pass-Through Series 1996-C2
FORM 8-K
INDEX
ITEM DESCRIPTION PAGE NUMBER
Item 5. Other Event 3
Item 7. Financial Statements and
Exhibits 3
Signatures 3
Exhibit A Trustee's Report to
Bondholders 4
<PAGE>
JP Morgan Commercial Mortgage Finance Corp.
Commercial Mortgage Pass-Through Series 1996-C2
FORM 8-K
ITEMS AND SIGNATURES
ITEMS
Item 5. Other Events
See Exhibit A, the Trustee's Report to Bondholders attached hereto.
Item 7. Financial Statements and Exhibits
See Exhibit A, the Trustee's Report to Bondholders attached hereto.
SIGNATURES
Pursuant to the requirement of the Securities Exchange
Act of 1934, the registrar has duly caused this report to
be signed on its behalf by the
undersigned hereunto duly authorized.
JP Morgan Commercial Mortgage Finance Corp.
Commercial Mortgage Pass-Through Series 1996-C2
(Registrant)
Date: 09/25/98
By:
Name:David Shepherd
Title: Assistant Secretary
State Street Bank and Trust Company
as Trustee
J. P. Morgan Commercial Mortgage Finance Corp.
Mortgage Pass-Through Certificates
Series 1996-C2
B193
Trustee's Report to Certificateholders Payment Date:September 25, 1998
<TABLE>
Payment Summary
Certificate Interest Original Original Beginning Principal
Class CUSIP Rate Type Fitch Rating Balance Balance Distribution
<S> <C> <C> <C> <C> <C> <C> <C>
A 617059AS9 0.06470000 Fixed AAA 207,161,000.00 150,867,237.75 6,902,630.78
AX* 617059AT7 0.02215717 Variable AAA 207,161,000.00 150,867,237.75 0.00
B 617059AU4 0.06800000 Fixed AA+ 16,755,000.00 16,755,000.00 0.00
C 617059AV2 0.07000000 Fixed A+ 16,755,000.00 16,755,000.00 0.00
D 617059AW0 0.07300000 Fixed BBB 16,755,000.00 16,755,000.00 0.00
DX* 617059AX8 0.01652384 Variable AA 50,265,000.00 50,265,000.00 0.00
E 617059AY6 0.08685717 Variable N/A 25,134,000.00 25,134,000.00 0.00
F 617059AZ3 0.08685717 Variable N/A 2,284,000.00 2,284,000.00 0.00
G 617059BE9 0.08685717 Variable N/A 10,662,000.00 10,662,000.00 0.00
NR 617059BA7 0.08685717 Variable N/A 9,143,511.00 9,143,511.00 0.00
R-I N/A N/A N/A N/A 0.00 0.00 N/A
R-II N/A N/A N/A N/A 0.00 0.00 N/A
R-III N/A N/A N/A N/A 0.00 0.00 N/A
* Based on a Notional Balance Totals: 304,649,511.00 248,355,748.75 6,902,630.78
Class DX Components
DX-B* N/A 0.01885717 Variable N/A 16,755,000.00 16,755,000.00 0.00
DX-C* N/A 0.01685717 Variable N/A 16,755,000.00 16,755,000.00 0.00
DX-D* N/A 0.01385717 Variable N/A 16,755,000.00 16,755,000.00 0.00
</TABLE>
Interest Total Ending
Distribution Payable Balance
987,870.14 7,890,500.92 143,964,606.97
977,380.12 977,380.12 143,964,606.97
94,945.00 94,945.00 16,755,000.00
97,737.50 97,737.50 16,755,000.00
101,926.25 101,926.25 16,755,000.00
69,559.02 69,559.02 50,265,000.00
182,094.75 182,094.75 25,134,000.00
16,547.49 16,547.49 2,284,000.00
77,245.74 77,245.74 10,662,000.00
65,571.85 65,571.85 9,143,511.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
2,670,877.86 9,573,508.64 241,453,117.97
26,329.33 26,329.33 16,755,000.00
23,536.83 23,536.83 16,755,000.00
19,348.08 19,348.08 16,755,000.00
<TABLE>
Distributions per Certificate
Beginning Principal Interest Ending
Class Certif. Factor Distribution Distribution Cert Factor
<S> <C> <C> <C> <C>
A 0.728261 33.320127 4.768611 0.694941
AX* 0.728261 0.000000 4.717974 0.694941
B 1.000000 0.000000 5.666667 1.000000
C 1.000000 0.000000 5.833333 1.000000
D 1.000000 0.000000 6.083333 1.000000
DX* 1.000000 0.000000 1.383846 1.000000
E 1.000000 0.000000 7.244957 1.000000
F 1.000000 0.000000 7.244961 1.000000
G 1.000000 0.000000 7.244958 1.000000
NR 1.000000 0.000000 7.171408 1.000000
R-I 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000
R-III 0.000000 0.000000 0.000000 0.000000
represents net payment per certificate
Class DX Components
DX-B* 1,000.000000 0.000000 1.571431 1000.000000
DX-C* 1,000.000000 0.000000 1.404765 1000.000000
DX-D* 1,000.000000 0.000000 1.154765 1000.000000
</TABLE>
<TABLE>
Principal Detail
Beginning Scheduled Unscheduled Principal Realized Balance Total Principal Ending
Class Balance Principal Principal Adjustments Losses Adjustment Distrib. Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A 150,867,237.75 311,327.77 6,591,303.01 0.00 0.00 0.00 6,902,630.78 143,964,606.97
AX* 150,867,237.75 0.00 0.00 0.00 0.00 0.00 0.00 143,964,606.97
B 16,755,000.00 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00
C 16,755,000.00 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00
D 16,755,000.00 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00
DX* 50,265,000.00 0.00 0.00 0.00 0.00 0.00 0.00 50,265,000.00
E 25,134,000.00 0.00 0.00 0.00 0.00 0.00 0.00 25,134,000.00
F 2,284,000.00 0.00 0.00 0.00 0.00 0.00 0.00 2,284,000.00
G 10,662,000.00 0.00 0.00 0.00 0.00 0.00 0.00 10,662,000.00
NR 9,143,511.00 0.00 0.00 0.00 0.00 0.00 0.00 9,143,511.00
R-I 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Totals: 248,355,748.75 311,327.77 6,591,303.01 0.00 0.00 0.00 6,902,630.78 241,453,117.97
Class DX Components
DX-B* 16,755,000.00 26,329.33 0.00 0.00 131.16 0.00 0.00 16,755,000.00
DX-C* 16,755,000.00 23,536.83 0.00 0.00 117.25 0.00 0.00 16,755,000.00
DX-D* 16,755,000.00 19,348.08 0.00 0.00 96.38 0.00 0.00 19,444.46
</TABLE>
<TABLE>
Interest Detail
Accrued Unpaid Excess Additional Current Prepayment Total Interest Cummulative
Class Certif. Int Interest Due PPIS Int. Adjust. Unpaid Int. Premiums Distrib. Amt Int. Shrtfls
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A 813,425.86 0.00 0.00 0.00 0.00 174,444.28 987,870.14 0.00
AX* 278,565.95 0.00 0.00 1,037.04 0.00 697,777.13 977,380.12 0.00
B 94,945.00 0.00 0.00 0.00 0.00 0.00 94,945.00 0.00
C 97,737.50 0.00 0.00 0.00 0.00 0.00 97,737.50 0.00
D 101,926.25 0.00 0.00 0.00 0.00 0.00 101,926.25 0.00
DX* 69,214.23 0.00 0.00 344.79 0.00 0.00 69,559.02 0.00
E 181,922.35 0.00 0.00 172.40 0.00 0.00 182,094.75 0.00
F 16,531.82 0.00 0.00 15.67 0.00 0.00 16,547.49 0.00
G 77,172.60 0.00 0.00 73.14 0.00 0.00 77,245.74 0.00
NR 66,181.63 1,033.26 0.00 (1,643.04) 0.00 0.00 65,571.85 3,724.92
R-I 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1,797,623.19 1,033.26 0.00 0.00 0.00 872,221.41 2,670,877.86 3,724.92
</TABLE>
31-60 Days 61-90 Days 90+ Days Foreclosures
Loans Delinquent 2.0 0.0 0.0 0.0
Percentage Delinquent 0.024691 0.00 0.00 0.00
Delinquent Loans UPB 8,823,879.98 0.00 0.00 0.00
Percentage Delinquent 0.04 0.00 0.00 0.00
Other Information
Current Unreimbursed
P & I Advances 83,761.44 156,881.05
Principal Portion 18,628.74 34,536.28
Interest Portion 65,132.70 122,344.77
Servicing Advances 0.00 0.00
Interest on Advances 2,797.42
Primary Master Special
Servicing Fee Servicing Fee Servicing Fee
25,870.34 10,348.17 243.37
Subordinate Support Percentage
Original Current
Subordinate Subordinate
Class Support % Support %
A 0.3200022 0.4037572
AX* 0.3200022 0.4037572
B 0.2650046 0.3343649
C 0.2100069 0.2649726
D 0.1550093 0.1955803
DX* 0.1550093 0.1955803
E 0.0725079 0.0914856
F 0.0650108 0.0820263
G 0.0300132 0.0378686
