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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 10-K
(Mark One) |X| Annual Report pursuant to Section 13 or 15(d) of
the Securities and Exchange Act of 1934
for fiscal year ended December 31, 1997
or
|_| Transition Report pursuant to Section 13 or 15(d)
of the Securities Exchange Act 1934
for the transaction period from __________to ___________
Commission File Number: 33-89374
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J.P. MORGAN COMMERCIAL MORTGAGE FINANCE CORP.
IN RESPECT OF COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-C4
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(Exact name of registrant as specified in its charter)
Delaware 13-3789046
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
c/o State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
Boston, MA 02110
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(Address of Principal Executive Offices) Zip Code
(617) 786-3000
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Registrant's telephone number, including area code
Securities registered pursuant to Section 12(b) of the Act: None.
Securities registered pursuant to Section 12(g) of the Act: None.
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.
Yes|_| No|X|
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ]
Not Applicable.
Aggregate market value of voting stock held by non-affiliates of the registrant
as of March 27, 1998.
Not Applicable.
Number of shares of common stock outstanding as of March 27, 1998.
Not Applicable.
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Registrant has not been involved in bankruptcy proceedings during the proceeding
five years, and is not reporting as a corporate issuer.
The following documents are incorporated by reference into this Form 10-K.
None.
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J.P. MORGAN COMMERCIAL MORTGAGE FINANCE CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-C4
FORM 10-K
INDEX
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Page
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PART I.
Item 1. Business............................................... 1
Item 2. Properties............................................. 1
Item 3. Legal Proceedings...................................... 1
Item 4. Submission of Matters to a Vote of Security Holders.... 1
PART II.
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters................................... 1
Item 6. Selected Financial Data................................. 1
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations................... 1
Item 8. Financial Statements and Supplementary Data............. 2
Item 9. Changes In and Disagreements With Accountants on
Accounting and Financial Disclosure................... 2
PART III.
Item 10. Directors and Executive Officers of the Registrant....... 2
Item 11. Executive Compensation................................... 2
Item 12. Security Ownership of Certain Beneficial Owners
and Management........................................ 2
Item 13. Certain Relationships and Related Transactions........... 2
PART IV.
Item 14. Exhibits, Financial Statement Schedules and Reports
on Form 8-K........................................... 2
Supplemental Information to be Furnished with Reports Filed
Pursuant to Section 15(d) of the Securities Exchange Act
of 1934 of Registrants Which Have Not Registered
Securities Pursuant to Section 12 of such Act...................... 3
SIGNATURES................................................................. 4
INDEX OF EXHIBITS.......................................................... 5
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PART I
Item 1. Business
Not Applicable.(1)
Item 2. Properties
Not Applicable.
Item 3. Legal Proceedings
The Registrant knows of no material pending legal proceedings involving either
of (i) the pool (the ("Pool") of Mortgage Loans constituting the property of the
Trust (the "Trust") created under the Pooling and Servicing Agreement dated as
of February 1, 1997 (the "Pooling Agreement") among J.P. Morgan Commercial
Mortgage Finance Corp., as depositor (the "Registrant"), Banc One Management and
Consulting Corporation, as master servicer, special servicer and primary
servicer (the "Master Servicer"), AMRESCO Management, Inc., as primary servicer
("Amresco"), GMAC Commercial Mortgage Corporation, primary servicer (the
"Special Servicer") and State Street Bank and Trust Company, as trustee (the
"Trustee") pursuant to which the Certificates were issued or (ii) with respect
to the Certificates or the Pool, the Registrant, the Master Servicer, Amresco,
the Special Servicer, or the Trustee with respect to the Pool other than
ordinary routine litigation, if any, incidental to the Trustee's, the Master
Servicer's, Amresco's, the Special Servicer's or the Registrant's duties under
the Pooling Agreement and not material when taken as a whole.
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to a vote or consent of the holders of the
Certificates during the period covered by this report.
PART II
Item 5. Market for the Registrant's Common Equity and Related Stockholder
Matters
Presently, there is no established trading market for the Certificates known to
the Registrant. As of December 31, 1997 there are an aggregate of 14 holders of
record of all Classes of the Certificates.
Item 6. Selected Financial Data
Not Applicable.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations
Not Applicable.
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(1) As used herein, "Not Applicable" means that the response to the
referenced item is omitted pursuant to a request filed with the Securities and
Exchange Commission (the "Commission") for an exemption for the registrant
pursuant to Section 12(h) of the Securities Exchange Act of 1934 or is omitted
in reliance on the procedures outlined in numerous no-action letters already
issued by the Commission's Staff with respect to substantially similar trusts.
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Item 8. Financial Statements and Supplementary Data
Not Applicable.
Item 9. Changes In and Disagreements with Accountants on Accounting and
Financial Disclosure
The Registrant knows of no changes or disagreements with accountants on
accounting and financial disclosure with respect to the Pool or the
Certificates.
Item 10. Directors and Executive Officers of the Registrant
Not Applicable.
Item 11. Executive Compensation
Not Applicable.
PART III
Item 12. Security Ownership of Certain Beneficial Owners and Management
Information required by this item with respect to the security ownership of
certain owners of the Certificates is annexed hereto as Exhibit 99.
Item 13. Certain Relationships and Related Transactions
Not Applicable.
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a)(1) Financial Statements
(i) The Statement of Compliance delivered by GMAC
Commercial Mortgage Corporation, as servicer under the
servicing agreement for the Trust, is annexed hereto as
Exhibit 14(a)(1)(i).
(ii) The Annual Servicing Report of an Independent Public
Accountant, if required to be delivered pursuant to the Pooling
Agreement and related servicing agreement, is not currently
available and will be subsequently filed on a Report on Form 8-K.
(a)(2) Financial Statement Schedules
Not Applicable.
(a)(3) Exhibits
Not Applicable.
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Unless otherwise indicated, the following exhibits required by Item
601 of Regulation S-K and previously furnished to the Commission as
exhibits to a Report on Form 8-K, are incorporated into this Form
10-K by reference:
4. Pooling and Servicing Agreement dated as of February 1,
1997, by and among J.P. Morgan Commercial Mortgage
Finance Corp., as depositor, Banc One Management and
Consulting Corporation as master servicer and special
servicer, AMRESCO Management, Inc., as primary servicer,
GMAC Commercial Mortgage Corporation, as primary
servicer, and State Street Bank and Trust Company, as
trustee and extension advisor.
99* Security Ownership of Certain Owners and Management.
(b) It has come to the attention of the undersigned that
reports on Form 8-K prepared by the undersigned for filing
with the Commission during the last quarter of the period
covered by this report and believed to have been so filed may
not have been effectively filed on Edgar. The Registrant
intends to file all such reports with the Commission as
promptly as reasonably practicable.
__________________
* Filed herewith
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
J.P. MORGAN COMMERCIAL MORTGAGE
FINANCE CORP., IN RESPECT OF COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C4 (Registrant)
Dated: March 30, 1998 By: State Street Bank and Trust Company,
solely in its capacity as Trustee of the
Trust for the Registrant's Commercial
Mortgage Pass-Through Certificates,
Series 1997-C4 and not individually
By: /S/ William G. Swan
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William G. Swan, Vice President
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INDEX OF EXHIBITS
14(a)(1)(i) Statement of Compliance delivered by GMAC Commercial Mortgage
Corporation, as servicer.
99 Security Ownership of Certain Registered Owners, as of December
31, 1997 (with original principal balances).
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EXHIBIT 14(a)(1)(i)
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GMAC Commercial Mortgage Corporation Diane M. Norbert
100 South Wacker Drive Vice President
Suite 400 CMBS Compliance
Chicago, IL 60606
Tel. 312-845-8539
Fax 312-845-8617
March 3, 1998
Banc One Management and Consulting Corporation
Attn: Chip Thies
1717 Main Street, 12th Floor
Dallas, TX 75201
J.P. MORGAN 1997 C4
OFFICER'S CERTIFICATE
ANNUAL COMPLIANCE STATEMENT
For the Year Ended 12/31/97
Pursuant to the requirements of Section 3.07 of that certain Servicing Agreement
governing the referenced Trust, it is hereby certified that (i) the undersigned
has completed a review of the activities and performance of GMAC Commercial
Mortgage Corporation (GMACCM), as Servicer, related to its obligations under the
Servicing Agreement for the past calendar year; and (ii) to the best of the
undersigned's knowledge on the basis of that review GMACCM as Servicer has
fulfilled all of its obligations under the Servicing Agreement throughout such
calendar year in all material aspects.
/S/ Diane M. Norberg March 5, 1998
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Diane M. Norberg
Vice President Date
cc: State Street Bank and Trust Company
ATTN: Karen Beard
Corporate Trust Department
Two International Place, 5th Floor
Boston, MA 02110
Morgan Guaranty Trust Company of New York
ATTN: Nancy Alto
c/o J.P. Morgan Securities, Inc. as Agent
60 Wall Street
New York, NY 10260-0060
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J.P. MORGAN COMMERCIAL MORTGAGE FINANCE CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-C4
EXHIBIT 99
PAGE 1 OF 2
ITEM 12. Security Ownership of Certain Beneficial Owners and Management
As of December 31, 1997, the following persons were known to the Registrant to
be the registered owners of more than 5% of the aggregate fractional undivided
interest evidenced by each Class of the Certificates referenced below:
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TITLE NAME AND ADDRESS AMOUNT OF BENEFICIAL
OF CLASS OF HOLDERS OF RECORD OWNERSHIP (ORIGINAL PRINCIPAL) % CLASS
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Class A1 Cede & Co. $40,000,000 100%
55 Water Street
New York, New York
10005
Class A2 Cede & Co. $100,124,000 100%
55 Water Street
New York, New York
10005
Class A3 Cede & Co. $138,659,000 100%
55 Water Street
New York, New York
10005
Class B Cede & Co. $24,419,000 100%
55 Water Street
New York, New York
10005
Class C Cede & Co. $22,384,000 100%
55 Water Street
New York, New York
10005
Class D Cede & Co. $20,349,000 100%
55 Water Street
New York, New York
10005
Class E Cede & Co. $6,104,000 100%
55 Water Street
New York, New York
10005
Class F Cede & Co. $26,454,000 100%
55 Water Street
New York, New York
10005
Class G Cede & Co. $16,279,000 100%
55 Water Street
New York, New York
10005
Class NR Cede & Co. $12,213,353 100%
55 Water Street
New York, New York
10005
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Class X Cede & Co. $406,985,353 100%
55 Water Street
New York, New York
10005
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