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: 03/25/98
(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: 03/25/98
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: March 25, 1998
<TABLE>
Payment Summary
Certificate Interest Original Beginning Principal
Class CUSIP Rate Type Balance Balance Distribution
<S> <C> <C> <C> <C> <C> <C>
A 617059AS9 0.06470000 Fixed 207,161,000.00 173,041,309.81 1,696,347.31
AX* 617059AT7 0.02121729 Variable 207,161,000.00 173,041,309.81 0.00
B 617059AU4 0.06800000 Fixed 16,755,000.00 16,755,000.00 0.00
C 617059AV2 0.07000000 Fixed 16,755,000.00 16,755,000.00 0.00
D 617059AW0 0.07300000 Fixed 16,755,000.00 16,755,000.00 0.00
DX* 617059AX8 0.01558396 Variable 50,265,000.00 50,265,000.00 0.00
E 617059AY6 0.08591729 Variable 25,134,000.00 25,134,000.00 0.00
F 617059AZ3 0.08591729 Variable 2,284,000.00 2,284,000.00 0.00
G 617059BE9 0.08591729 Variable 10,662,000.00 10,662,000.00 0.00
NR 617059BA7 0.08591729 Variable 9,143,511.00 9,143,511.00 0.00
R-I N/A N/A N/A 0.00 0.00 N/A
R-II N/A N/A N/A 0.00 0.00 N/A
R-III N/A N/A N/A 0.00 0.00 N/A
Totals: 304,649,511.00 270,529,820.81 1,696,347.31
* Based on a Notional Balance
Class DX Components
DX-B* N/A 0.01791729 Variable 16,755,000.00 16,755,000.00 0.00
DX-C* N/A 0.01591729 Variable 16,755,000.00 16,755,000.00 0.00
DX-D* N/A 0.01291729 Variable 16,755,000.00 16,755,000.00 0.00
</TABLE>
Interest Prepayment Total Ending
Distribution Premiums Payable Balance
932,981.06 18,366.25 2,647,694.62 171,344,962.50
305,955.62 73,464.99 379,420.61 171,344,962.50
94,945.00 0.00 94,945.00 16,755,000.00
97,737.50 0.00 97,737.50 16,755,000.00
101,926.25 0.00 101,926.25 16,755,000.00
65,277.29 0.00 65,277.29 50,265,000.00
179,953.76 0.00 179,953.76 25,134,000.00
16,352.92 0.00 16,352.92 2,284,000.00
76,337.51 0.00 76,337.51 10,662,000.00
65,590.01 0.00 65,590.01 9,143,511.00
201.18 0.00 201.18 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
1,937,258.10 91,831.24 3,725,436.65 268,833,473.50
25,017.01 0.00 25,017.01 16,755,000.00
22,224.51 0.00 22,224.51 16,755,000.00
18,035.76 0.00 18,035.76 16,755,000.00
<TABLE>
Distributions per Certificate
Beginning Principal Interest Prepayment Ending
Class Cert Factor Distribution Distribution Premium Cert Factor
<S> <C> <C> <C> <C> <C>
A 835.298680 8.188546 4.503652 0.088657 827.110134
AX* 835.298680 0.000000 1.476898 0.354628 827.110134
B 1,000.000000 0.000000 5.666667 0.000000 1000.000000
C 1,000.000000 0.000000 5.833333 0.000000 1000.000000
D 1,000.000000 0.000000 6.083333 0.000000 1000.000000
DX* 1,000.000000 0.000000 1.298663 0.000000 1000.000000
E 1,000.000000 0.000000 7.159774 0.000000 1000.000000
F 1,000.000000 0.000000 7.159772 0.000000 1000.000000
G 1,000.000000 0.000000 7.159774 0.000000 1000.000000
NR 1,000.000000 0.000000 7.173394 0.000000 1000.000000
R-I 0.000000 0.000000 0.000000 0.000000 0.000000
R-II 0.000000 0.000000 0.000000 0.000000 0.000000
R-III 0.000000 0.000000 0.000000 0.000000 0.000000
represents net payment per certificate
Class DX Components
DX-B* 1,000.000000 0.000000 1.493107 0.000000 1000.000000
DX-C* 1,000.000000 0.000000 1.326440 0.000000 1000.000000
DX-D* 1,000.000000 0.000000 1.076440 0.000000 1000.000000
</TABLE>
<TABLE>
Payment Details
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 173,041,309.81 337,400.79 1,358,946.52 0.00 0.00 0.00 1,696,347.31 171,344,962.50
AX* 173,041,309.81 0.00 0.00 0.00 0.00 0.00 0.00 171,344,962.50
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
270,529,820.81 337,400.79 1,358,946.52 0.00 0.00 0.00 1,696,347.31 268,833,473.50
Class DX Components
DX-B* 16,755,000.00 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00
DX-C* 16,755,000.00 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00
DX-D* 16,755,000.00 0.00 0.00 0.00 0.00 0.00 0.00 16,755,000.00
</TABLE>
<TABLE>
Interest Detail
Accrued Unpaid Interest Excess Additional Deferred Current Prepayment Total Interest Cummulative
Class Cert Int Interest Due Losses PPIS Expense Loss Interest Unpaid Int Premiums Distribution Amt Int Shortfalls
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A 932,981.06 0.00 0.00 0.00 0.00 0.00 0.00 18,366.25 951,347.31 0
AX* 305,955.62 0.00 0.00 0.00 0.00 0.00 0.00 73,464.99 379,420.61 0
B 94,945.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 94,945.00 0
C 97,737.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 97,737.50 0
D 101,926.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 101,926.25 0
DX* 65,277.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65,277.29 0
E 179,953.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 179,953.76 0
F 16,352.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 16,352.92 0
G 76,337.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 76,337.51 0
NR 65,465.47 124.54 0.00 0.00 0.00 0.00 0.00 0.00 65,590.01 0
R-I 0.00 0.00 0.00 201.18 0.00 0.00 0.00 0.00 201.18 0
R-II 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0
R-III 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0
1,936,932.38 124.54 0.00 201.18 0.00 0.00 0.00 91,831.24 2,029,089.34 0
Class DX Components
DX-B* 25,017.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25,017.01
DX-C* 22,224.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 22,224.51
DX-D* 18,035.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 18,035.76
</TABLE>
Delinquency Statistics
31-60 Days 61-90 Days 90+ Days Foreclosures
Loans Delinquent 0 1 0 0
Percentage Delinquent 0.00000000 0.01176471 0.00000000 0.00000000
Delinquent Loans UPB 0.00 2,829,163.80 0.00 0.00
Percentage Delinquent 0.00000000 0.00000000 0.00000000
Other Information
Current Unreimbursed
P & I Advances 48,746.73 97,420.11
Principal Portion 6,619.91 12,879.22
Interest Portion 42,126.82 84,540.89
Servicing Advances 0.00 0.00
Interest on Advances 0.00
Primary Master Special
Servicing Fee Servicing Fee Servicing Fee
28,180.12 11,272.07 0.00
