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Previous: FIRST SIERRA RECEIVABLES III INC, 8-K, 2000-11-22 |
Next: CELL PATHWAYS HOLDINGS INC, S-3, 2000-11-22 |
<PAGE> 1
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 6,134,056.09
Disbursements from Collection Account: Section 3.04(b) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances 22,845.33
(b) Servicer Fees from current and prior Collection Period 49,466.18
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Premium Amount due on Payment Date and unpaid Premium Amounts 12,242.67
(v) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(vi) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vii) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest --
Class A-2 Note Interest --
Class A-3 Note Interest 155,552.30
Class A-4 Note Interest 331,522.69
(viii) Class B-1 Note Interest 13,953.60
(ix) Class B-2 Note Interest 9,039.42
(x) Class B-3 Note Interest 11,866.27
(xi) Class A Base Principal Distribution Amount plus Class A Overdue Principal
Class A-1 Principal Distribution Amount --
Class A-2 Principal Distribution Amount --
Class A-3 Principal Distribution Amount 5,131,443.53
Class A-4 Principal Distribution Amount --
(xii) Note Insurer Reimbursement Amount --
(xiii) Class B-1 Base Principal Distribution Amount plus Class B-1 Overdue Principal 111,553.12
(xiv) Class B-2 Base Principal Distribution Amount plus Class B-2 Overdue Principal 55,776.55
(xv) Class B-3 Base Principal Distribution Amount plus Class B-3 Overdue Principal 111,553.12
(xvi) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xvii) Other Amounts Due Servicer under Servicing Agreement --
(xviii) Remaining Amount to Residual Holder 116,824.63
</TABLE>
Reviewed By:
--------------------------------------------------------------------
Sandy B. Ho
Executive Vice President & CFO
Page 1
<PAGE> 2
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - NOTE BALANCE ROLLFORWARD
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<CAPTION>
Initial Beginning Base Additional Total Ending Ending
Principal Principal Principal Principal Principal Principal Certificate
Class Balance Balance Distribution Distribution Distribution Balance Factor
-------------- --------------- --------------- ------------- ------------ ------------- --------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Class A-1 70,687,140.00 -- -- -- -- -- 0.0000000
Class A-2 53,856,869.00 -- -- -- -- -- 0.0000000
Class A-3 52,510,447.00 34,250,047.72 5,131,443.53 -- 5,131,443.53 29,118,604.18 0.5545297
Class A-4 70,687,140.00 70,687,140.00 -- -- -- 70,687,140.00 1.0000000
--------------- --------------- ------------- ------------ ------------- --------------- -----------
Total Class A 247,741,596.00 104,937,187.72 5,131,443.53 -- 5,131,443.53 99,805,744.18 0.4028623
Class B-1 5,385,687.00 2,281,243.27 111,553.12 -- 111,553.12 2,169,690.14 0.4028623
Class B-2 2,692,843.00 1,140,621.42 55,776.55 -- 55,776.55 1,084,844.87 0.4028623
Class B-3 5,385,687.00 2,281,243.27 111,553.12 -- 111,553.12 2,169,690.15 0.4028623
--------------- --------------- ------------- ------------ ------------- ---------------
Total 261,205,813.00 110,640,295.67 5,410,326.33 -- 5,410,326.33 105,229,969.34
</TABLE>
Page 2
<PAGE> 3
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of October 31, 2000 1,792,650.56
Investment earnings on amounts in Collection Account 10,018.46
Payments due Collection Account from last 3 business days of Collection Period 1,585,255.23
Additional contribution for terminated trade-ups and rebooked leases --
Servicer Advance on current Determination Date 2,746,131.84
-------------
Available Funds on Payment Date 6,134,056.09
INITIAL UNPAID AMOUNTS INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
-------------
REMAINING AVAILABLE FUNDS 6,134,056.09
INDEMNITY PAYMENTS PAID INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
-------------
REMAINING AVAILABLE FUNDS 6,134,056.09
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 22,845.33
Unreimbursed Servicer Advances paid 22,845.33
-------------
Unreimbursed Servicer Advances remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 6,111,210.76
SERVICER FEES
Servicer Fees due 49,466.18
Servicer Fees paid 49,466.18
-------------
Servicer Fees remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 6,061,744.58
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
-------------
REMAINING AVAILABLE FUNDS 6,061,744.58
PREMIUM AMOUNT
Premium Amount due 12,242.67
Premium Amount paid 12,242.67
-------------
Premium Amount remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 6,049,501.91
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
-------------
Indenture Trustee Fee remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 6,049,085.24
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(a)(ii)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07 (a)(ii) 75,000.00
-------------
Total Indenture Trustee Expenses paid --
-------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 6,049,085.24
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest --
Class A-2 Note Interest --
Class A-3 Note Interest 155,552.30
Class A-4 Note Interest 331,522.69
-------------
</TABLE>
Page 3
<PAGE> 4
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Total Class A Interest due 487,074.99
---------------
REMAINING AVAILABLE FUNDS 5,562,010.26
CLASS B-1 NOTE INTEREST
Class B-1 Note Interest due 13,953.60
Class B-1 Note Interest paid 13,953.60
---------------
Class B-1 Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 5,548,056.65
CLASS B-2 NOTE INTEREST
Class B-2 Note Interest due 9,039.42
Class B-2 Note Interest paid 9,039.42
---------------
Class B-2 Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 5,539,017.23
CLASS B-3 NOTE INTEREST
Class B-3 Note Interest due 11,866.27
Class B-3 Note Interest paid 11,866.27
---------------
Class B-3 Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 5,527,150.96
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 5,131,443.53
Class A Note Principal Balance as of preceding Payment Date 104,937,187.72
---------------
Class A Base Principal Distribution Amount paid 5,131,443.53
---------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date --
Class A-1 Base Principal Distribution Amount paid --
---------------
Class A-1 Note Principal Balance after distribution on Payment Date --
---------------
Remaining Class A Base Principal Distribution Amount 5,131,443.53
---------------
Class A-2 Note Principal Balance as of preceding Payment Date --
Class A-2 Base Principal Distribution Amount paid --
---------------
Class A-2 Note Principal Balance after distribution on Payment Date --
Remaining Class A Base Principal Distribution Amount 5,131,443.53
---------------
Class A-3 Note Principal Balance as of preceding Payment Date 34,250,047.72
Class A-3 Base Principal Distribution Amount paid 5,131,443.53
---------------
Class A-3 Note Principal Balance after distribution on Payment Date 29,118,604.18
Remaining Class A Base Principal Distribution Amount --
---------------
Class A-4 Note Principal Balance as of preceding Payment Date 70,687,140.00
Class A-4 Base Principal Distribution Amount paid --
---------------
Class A-4 Note Principal Balance after distribution on Payment Date 70,687,140.00
---------------
</TABLE>
Page 4
<PAGE> 5
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
REMAINING AVAILABLE FUNDS 395,707.43
NOTE INSURER REIMBURSEMENT AMOUNT
Note Insurer Reimbursement Amount due --
Note Insurer Reimbursement Amount paid --
-------------
Note Insurer Reimbursement Amount remaining unpaid --
REMAINING AVAILABLE FUNDS 395,707.43
CLASS B-1 BASE PRINCIPAL DISTRIBUTION
Class B-1 Note Principal Balance as of preceding Payment Date 2,281,243.27
Class B-1 Base Principal Distribution due 111,553.12
Class B-1 Base Principal Distribution paid 111,553.12
-------------
Class B-1 Base Principal Distribution remaining unpaid --
Class B-1 Note Principal Balance after distribution on Payment Date 2,169,690.14
REMAINING AVAILABLE FUNDS 284,154.31
CLASS B-2 BASE PRINCIPAL DISTRIBUTION
Class B-2 Note Principal Balance as of preceding Payment Date 1,140,621.42
Class B-2 Base Principal Distribution due 55,776.55
Class B-2 Base Principal Distribution paid 55,776.55
-------------
Class B-2 Base Principal Distribution remaining unpaid --
Class B-2 Note Principal Balance after distribution on Payment Date 1,084,844.87
REMAINING AVAILABLE FUNDS 228,377.75
CLASS B-3 BASE PRINCIPAL DISTRIBUTION
Class B-3 Note Principal Balance as of preceding Payment Date 2,281,243.27
Class B-3 Base Principal Distribution due 111,553.12
Class B-3 Base Principal Distribution paid 111,553.12
-------------
Class B-3 Base Principal Distribution remaining unpaid --
Class B-3 Note Principal Balance after distribution on Payment Date 2,169,690.15
REMAINING AVAILABLE FUNDS 116,824.63
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(a)(ii)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
-------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 116,824.63
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement due --
Other Amounts Due Servicer under Servicing Agreement paid --
-------------
Other Amounts Due Servicer under Servicing Agreement remaining unpaid --
REMAINING AVAILABLE FUNDS 116,824.63
AMOUNT PAYABLE TO RESIDUAL HOLDER 116,824.63
</TABLE>
Page 5
<PAGE> 6
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 118,718,825.67
ADCPB, end of Collection Period 113,308,499.34
---------------
Base Principal Amount 5,410,326.33
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 3,722,568.21
Servicing Advances collected during the current Collection Period 3,699,722.88
---------------
Unreimbursed Servicing Advances as of current Determination Date 22,845.33
</TABLE>
CALCULATION OF INTEREST DUE
<TABLE>
<CAPTION>
Beginning Current Total
Principal Interest Interest Overdue Interest
Class Balance Rate Due Interest Due
---------- --------------- --------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C>
Class A-1 -- 5.2150% -- -- --
Class A-2 -- 5.4900% -- -- --
Class A-3 34,250,047.72 5.4500 155,552.30 -- 155,552.30
Class A-4 70,687,140.00 5.6280 331,522.69 -- 331,522.69
Class B-1 2,281,243.27 7.3400 13,953.60 -- 13,953.60
Class B-2 1,140,621.42 9.5100 9,039.42 -- 9,039.42
Class B-3 2,281,243.27 6.2420 11,866.27 -- 11,866.27
--------------- --------- ----------- ---------- -----------
110,640,295.67 5.6600 521,934.28 -- 521,934.28
</TABLE>
CALCULATION OF PRINCIPAL DUE
<TABLE>
<CAPTION>
Base Base Total
Principal Principal Overdue Principal
Class Amount Pct. Amount Principal Due
--------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Class A 94.845% 5,131,443.53 -- 5,131,443.53
Class B-1 2.062% 111,553.12 -- 111,553.12
Class B-2 1.031% 55,776.55 -- 55,776.55
Class B-3 2.062% 111,553.12 -- 111,553.12
------------- ------------- -------------
5,410,326.33 -- 5,410,326.33
</TABLE>
<TABLE>
<S> <C>
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 118,718,825.67
Servicer Fee Rate 0.500%
One-twelfth 1/12
------
Servicer Fee due current period 49,466.18
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 49,466.18
CALCULATION OF PREMIUM AMOUNT
Class A Principal Amount as of the immediately preceding Collection Period 104,937,187.72
Premium Rate 0.140%
One-twelfth 1/12
---------------
</TABLE>
Page 6
<PAGE> 7
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Premium Amount due Current Period 12,242.67
Prior Premium Amount arrearage --
----------
Total Premium Amount due 12,242.67
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
----------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
----------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
----------
Total Other Amounts Due Servicer under Servicing Agreement --
</TABLE>
Page 7
<PAGE> 8
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
RESTRICTING EVENT DETERMINATION:
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Event of Servicer Termination (Yes/No) No
B) Note Insurer has Made a Payment (Yes/No) No
C) Gross Charge Off Event has Occurred (Yes/No) No
D) Delinquency Trigger Event has Occurred (Yes/No) No
</TABLE>
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment of
Interest required to be made under the terms of such Notes or the Indenture
when due; and, No
B) Failure to distribute to the Noteholders (x) on any Payment Date, an
amount equal to the principal due on the Outstanding Notes as of such
Payment Date to the extent that sufficient Available Funds are on deposit in
the Collection Account of (y) on the Class A-1 Maturity Date, the Class A-2
Maturity Date, the Class A-3 Maturity Date,the Class A-4 Maturity Date, the
Class B-1 Maturity Date, the Class B-2 Maturity Date, or the Class B-3
Maturity Date, as the case may be, on any remaining principal owed on the
outstanding Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4
Notes, Class B-1 Notes, Class B-2 Notes, or Class B-3 Notes, as the case may
be. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
--------- --------------------------------------------------------------- ------
<S> <C> <C>
6.01(i) Failure to make payment required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed,
withdrawn or dismissed within 60 days No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing
Agreement No
6.01(viii) Servicer Trigger Event as contained in the Insurance Agreement
has occurred. No
</TABLE>
Page 8
<PAGE> 9
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TRIGGER ACCOUNT CALCULATIONS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
Gross Charge Event Calculation:
<TABLE>
<CAPTION>
Result
------
<S> <C>
Gross Charge Off Ratio Current Period (0.18)%
Gross Charge Off Ratio Prior Period 1.87%
Gross Charge Off Ratio Second Prior Period 1.42%
------
Average of Gross Charge Off Ratio for Three Periods 1.04%
Maximum Allowed 2.50%
</TABLE>
Gross Charge Off Ratio:
<TABLE>
<CAPTION>
ADCPB of Gross Charge Off Ratio
All Defaulted Less End of Month Charge Offs/
Contracts Recoveries Charge Offs ADCPB ADCPB
------------- ---------- ----------- --------------- ----------------------
<S> <C> <C> <C> <C> <C>
Current Period 1,928.87 18,633.63 (16,704.76) 113,308,499.34 (0.18)%
Prior Period 246,495.01 61,558.94 184,936.07 118,718,825.67 1.87%
Second Prior Period 236,749.59 90,036.11 146,713.48 123,975,314.90 1.42%
</TABLE>
Delinquency Event Calculation:
<TABLE>
<CAPTION>
Result
------
<S> <C>
Delinquency Trigger Ratio Current Period 4.05%
Delinquency Trigger Ratio Prior Period 4.30%
Delinquency Trigger Ratio Second Prior Period 4.22%
------
Average of Delinquency Trigger Ratios 4.19%
Maximum Allowed 7.50%
</TABLE>
Delinquency Trigger Ratio:
<TABLE>
<CAPTION>
A B A/B
- - ---
ADCPB of ADCPB of
Contract > 30 Day All Contracts Delinquency Trigger
Past Due As of Month-End Ratio:
----------------- --------------- -------------------
<S> <C> <C> <C>
Current Period 4,668,481.60 115,390,066.91 4.05%
Prior Period 5,107,775.41 118,718,825.67 4.30%
Second Prior Period 5,325,385.94 126,258,089.84 4.22%
</TABLE>
<TABLE>
<CAPTION>
ADCPB Delinquency Ratio
------------ -----------------
<S> <C> <C>
Current 110,721,585 95.95%
31-60 Days Past Due 2,145,949 1.86%
61-90 Days Past Due 1,131,642 0.98%
91+ Days Past Due 1,390,890 1.21%
--------- -------
TOTAL 115,390,067 100.00%
</TABLE>
Substitution Limits
<TABLE>
<S> <C>
ADCPB as of Cut-Off Date 269,284,343.00
Maximum Substitution (10% of Initial) 26,928,434.30
Prior month Cumulative ADCPB Substituted 5,267,884.70
Current month ADCPB Substituted 463,890.66
---------------
Cumulative ADCPB Substituted 5,731,775.35
</TABLE>
Page 9
<PAGE> 10
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 7,222,066.37
Disbursements from Collection Account: Section 3.04(b) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances 73,136.25
(b) Servicer Fees from current and prior Collection Period 64,980.52
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Premium Amount due on Payment Date and unpaid Premium Amounts 20,260.85
(v) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(vi) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vii) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest --
Class A-2 Note Interest 30,625.13
Class A-3 Note Interest 221,916.32
Class A-4 Note Interest 401,672.54
(viii) Class B-1 Note Interest 16,636.55
(ix) Class B-2 Note Interest 12,571.80
(x) Class B-3 Note Interest 9,954.25
(xi) Class A Base Principal Distribution Amount plus Class A Overdue Principal
Class A-1 Principal Distribution Amount --
Class A-2 Principal Distribution Amount 5,947,323.20
Class A-3 Principal Distribution Amount --
Class A-4 Principal Distribution Amount --
(xii) Note Insurer Reimbursement Amount --
(xiii) Class B-1 Base Principal Distribution Amount plus Class B-1 Overdue Principal 129,289.65
(xiv) Class B-2 Base Principal Distribution Amount plus Class B-2 Overdue Principal 64,644.82
(xv) Class B-3 Base Principal Distribution Amount plus Class B-3 Overdue Principal 80,806.03
(xvi) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xvii) Other Amounts Due Servicer under Servicing Agreement --
(xviii) Remaining Amount to Residual Holder 147,831.81
</TABLE>
Reviewed By:
--------------------------------------------------------------------
Sandy B. Ho
Executive Vice President & CFO
Page 1
<PAGE> 11
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - NOTE BALANCE ROLLFORWARD
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<CAPTION>
Initial Beginning Base Additional Total Ending Ending
Principal Principal Principal Principal Principal Principal Certificate
Class Balance Balance Distribution Distribution Distribution Balance Factor
-------------- --------------- --------------- ------------- -------------- ------------- --------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Class A-1 70,688,994.00 -- -- -- -- -- 0.0000000
Class A-2 57,258,085.00 6,743,148.17 5,947,323.20 -- 5,947,323.20 795,824.97 0.0138989
Class A-3 48,068,516.00 48,068,516.00 -- -- -- 48,068,516.00 1.0000000
Class A-4 84,119,903.00 84,119,903.00 -- -- -- 84,119,903.00 1.0000000
--------------- --------------- ------------- -------------- ------------- --------------- -----------
Total Class A 260,135,498.00 138,931,567.17 5,947,323.20 -- 5,947,323.20 132,984,243.97 0.5112114
Class B-1 5,655,120.00 3,020,251.72 129,289.65 -- 129,289.65 2,890,962.07 0.5112114
Class B-2 2,827,560.00 1,510,125.86 64,644.82 -- 64,644.82 1,445,481.03 0.5112114
Class B-3 3,534,450.00 1,887,657.32 80,806.03 -- 80,806.03 1,806,851.29 0.5112114
--------------- --------------- ------------- -------------- ------------- ---------------
Total 272,152,628.00 145,349,602.06 6,222,063.69 -- 6,222,063.69 139,127,538.37
</TABLE>
Page 2
<PAGE> 12
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of October 31, 2000 1,250,026.99
Investment earnings on amounts in Collection Account 9,861.89
Payments due Collection Account from last 3 business days of Collection Period 1,764,206.04
Additional contribution for terminated trade-ups and rebooked leases --
Servicer Advance on current Determination Date 4,197,971.45
---------------
Available Funds on Payment Date 7,222,066.37
INITIAL UNPAID AMOUNTS INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
---------------
REMAINING AVAILABLE FUNDS 7,222,066.37
INDEMNITY PAYMENTS PAID INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
---------------
REMAINING AVAILABLE FUNDS 7,222,066.37
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 73,136.25
Unreimbursed Servicer Advances paid 73,136.25
---------------
Unreimbursed Servicer Advances remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 7,148,930.12
SERVICER FEES
Servicer Fees due 64,980.52
Servicer Fees paid 64,980.52
---------------
Servicer Fees remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 7,083,949.60
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
---------------
REMAINING AVAILABLE FUNDS 7,083,949.60
PREMIUM AMOUNT
Premium Amount due 20,260.85
Premium Amount paid 20,260.85
---------------
Premium Amount remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 7,063,688.75
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
---------------
Indenture Trustee Fee remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 7,063,272.08
</TABLE>
Page 3
<PAGE> 13
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(a)(ii)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07(a)(ii) 75,000.00
---------------
Total Indenture Trustee Expenses paid --
---------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 7,063,272.08
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest --
Class A-2 Note Interest 30,625.13
Class A-3 Note Interest 221,916.32
Class A-4 Note Interest 401,672.54
---------------
Total Class A Interest due 654,213.98
---------------
REMAINING AVAILABLE FUNDS 6,409,058.10
CLASS B-1 NOTE INTEREST
Class B-1 Note Interest due 16,636.55
Class B-1 Note Interest paid 16,636.55
---------------
Class B-1 Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 6,392,421.55
CLASS B-2 NOTE INTEREST
Class B-2 Note Interest due 12,571.80
Class B-2 Note Interest paid 12,571.80
---------------
Class B-2 Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 6,379,849.75
CLASS B-3 NOTE INTEREST
Class B-3 Note Interest due 9,954.25
Class B-3 Note Interest paid 9,954.25
---------------
Class B-3 Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 6,369,895.50
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 5,947,323.20
Class A Note Principal Balance as of preceding Payment Date 138,931,567.17
---------------
Class A Base Principal Distribution Amount paid 5,947,323.20
---------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date --
Class A-1 Base Principal Distribution Amount paid --
---------------
Class A-1 Note Principal Balance after distribution on Payment Date --
Remaining Class A Base Principal Distribution Amount 5,947,323.20
---------------
</TABLE>
Page 4
<PAGE> 14
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Class A-2 Note Principal Balance as of preceding Payment Date 6,743,148.17
Class A-2 Base Principal Distribution Amount paid 5,947,323.20
---------------
Class A-2 Note Principal Balance after distribution on Payment Date 795,824.97
Remaining Class A Base Principal Distribution Amount --
---------------
Class A-3 Note Principal Balance as of preceding Payment Date 48,068,516.00
Class A-3 Base Principal Distribution Amount paid --
---------------
Class A-3 Note Principal Balance after distribution on Payment Date 48,068,516.00
Remaining Class A Base Principal Distribution Amount --
---------------
Class A-4 Note Principal Balance as of preceding Payment Date 84,119,903.00
Class A-4 Base Principal Distribution Amount paid --
---------------
Class A-4 Note Principal Balance after distribution on Payment Date 84,119,903.00
REMAINING AVAILABLE FUNDS 422,572.31
NOTE INSURER REIMBURSEMENT AMOUNT
Note Insurer Reimbursement Amount due --
Note Insurer Reimbursement Amount paid --
---------------
Note Insurer Reimbursement Amount remaining unpaid --
REMAINING AVAILABLE FUNDS 422,572.31
CLASS B-1 BASE PRINCIPAL DISTRIBUTION
Class B-1 Note Principal Balance as of preceding Payment Date 3,020,251.72
Class B-1 Base Principal Distribution due 129,289.65
Class B-1 Base Principal Distribution paid 129,289.65
---------------
Class B-1 Base Principal Distribution remaining unpaid --
Class B-1 Note Principal Balance after distribution on Payment Date 2,890,962.07
REMAINING AVAILABLE FUNDS 293,282.66
CLASS B-2 BASE PRINCIPAL DISTRIBUTION
Class B-2 Note Principal Balance as of preceding Payment Date 1,510,125.86
Class B-2 Base Principal Distribution due 64,644.82
Class B-2 Base Principal Distribution paid 64,644.82
---------------
Class B-2 Base Principal Distribution remaining unpaid --
Class B-2 Note Principal Balance after distribution on Payment Date 1,445,481.03
REMAINING AVAILABLE FUNDS 228,637.84
CLASS B-3 BASE PRINCIPAL DISTRIBUTION
</TABLE>
Page 5
<PAGE> 15
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Class B-3 Note Principal Balance as of preceding Payment Date 1,887,657.32
Class B-3 Base Principal Distribution due 80,806.03
Class B-3 Base Principal Distribution paid 80,806.03
---------------
Class B-3 Base Principal Distribution remaining unpaid --
Class B-3 Note Principal Balance after distribution on Payment Date 1,806,851.29
REMAINING AVAILABLE FUNDS 147,831.81
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(a)(ii)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
---------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 147,831.81
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement due --
Other Amounts Due Servicer under Servicing Agreement paid --
---------------
Other Amounts Due Servicer under Servicing Agreement remaining unpaid --
REMAINING AVAILABLE FUNDS 147,831.81
AMOUNT PAYABLE TO RESIDUAL HOLDER 147,831.81
</TABLE>
Page 6
<PAGE> 16
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 155,953,240.15
ADCPB, end of Collection Period 149,731,176.46
---------------
Base Principal Amount 6,222,063.69
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 5,111,370.11
Servicing Advances collected during the current Collection Period 5,038,233.86
---------------
Unreimbursed Servicing Advances as of current Determination Date 73,136.25
</TABLE>
CALCULATION OF INTEREST DUE
<TABLE>
<CAPTION>
Beginning Current Total
Principal Interest Interest Overdue Interest
Class Balance Rate Due Interest Due
---------- --------------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C>
Class A-1 -- 4.9670% -- -- --
Class A-2 6,743,148.17 5.4500% 30,625.13 -- 30,625.13
Class A-3 48,068,516.00 5.5400% 221,916.32 -- 221,916.32
Class A-4 84,119,903.00 5.7300% 401,672.54 -- 401,672.54
Class B-1 3,020,251.72 6.6100% 16,636.55 -- 16,636.55
Class B-2 1,510,125.86 9.9900% 12,571.80 -- 12,571.80
Class B-3 1,887,657.32 6.3280% 9,954.25 -- 9,954.25
--------------- ---------- ----------- ---------- -----------
145,349,602.06 5.7245% 693,376.58 -- 693,376.58
</TABLE>
CALCULATION OF PRINCIPAL DUE
<TABLE>
<CAPTION>
Base Base Total
Principal Principal Overdue Principal
Class Amount Pct. Amount Principal Due
---------- ------------ ------------- --------- -------------
<S> <C> <C> <C> <C>
Class A 95.584% 5,947,323.20 -- 5,947,323.20
Class B-1 2.078% 129,289.65 -- 129,289.65
Class B-2 1.039% 64,644.82 -- 64,644.82
Class B-3 1.299% 80,806.03 0.00 80,806.03
------------- --------- -------------
6,222,063.69 0.00 6,222,063.69
</TABLE>
<TABLE>
<S> <C>
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 155,953,240.15
Servicer Fee Rate 0.500%
One-twelfth 1/12
---------------
Servicer Fee due current period 64,980.52
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 64,980.52
</TABLE>
Page 7
<PAGE> 17
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CALCULATION OF PREMIUM AMOUNT
Class A Principal Amount as of the immediately preceding Collection Period 138,931,567.17
Premium Rate 0.175%
One-twelfth 1/12
---------------
Premium Amount due Current Period 20,260.85
Prior Premium Amount arrearage --
---------------
Total Premium Amount due 20,260.85
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
---------------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
---------------
Total Other Amounts Due Servicer under Servicing Agreement --
</TABLE>
Page 8
<PAGE> 18
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
RESTRICTING EVENT DETERMINATION:
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Event of Servicer Termination (Yes/No) No
B) Note Insurer has Made a Payment (Yes/No) No
C) Gross Charge Off Event has Occurred (Yes/No) No
D) Delinquency Trigger Event has Occurred (Yes/No) No
</TABLE>
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment of
Interest required to be made under the terms of such Notes or the Indenture
when due; and, No
B) Failure to distribute to the Noteholders (x) on any Payment Date, an
amount equal to the principal due on the Outstanding Notes as of such
Payment Date to the extent that sufficient Available Funds are on deposit in
the Collection Account of (y) on the Class A-1 Maturity Date, the Class A-2
Maturity Date, the Class A-3 Maturity Date,the Class A-4 Maturity Date, the
Class B-1 Maturity Date, the Class B-2 Maturity Date, or the Class B-3
Maturity Date, as the case may be, on any remaining principal owed on the
outstanding Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4
Notes, Class B-1 Notes, Class B-2 Notes, or Class B-3 Notes, as the case may
be. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
--------- ---------------------------------------------------------------------------- ------
<S> <C> <C>
6.01(i) Failure to make payment required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or
dismissed within 6 days. No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
6.01(viii) Servicer Trigger Event as contained in the Insurance Agreement has occurred. No
</TABLE>
Page 9
<PAGE> 19
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 3,776,942.88
Reserve Account balance, beginning 1,751,034.78
Disbursements from Collection Account: Section 3.05(a) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances 13,898.30
(b) Servicer Fees from current and prior Collection Period 55,131.86
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(v) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vi) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest --
Class A-2 Note Interest 118,031.53
Class A-3 Note Interest 105,098.57
Class A-4 Note Interest 360,555.57
(vii) Class B Note Interest 76,487.57
(viii) Class C Note Interest 57,009.81
(ix) Class D Note Interest 17,403.56
(x) Class A Base Principal Distribution Amount
Class A-1 Principal Distribution Amount --
Class A-2 Principal Distribution Amount 2,437,318.37
Class A-3 Principal Distribution Amount --
Class A-4 Principal Distribution Amount --
(xi) Class B Base Principal Distribution Amount 230,356.31
(xii) Class C Base Principal Distribution Amount 156,047.82
(xiii) Class D Base Principal Distribution Amount 37,154.24
(xv) Class E Note Interest 12,866.10
(xvi) Class E Principal Distribution Amount 40,126.58
(xviii) Reserve Account Reimbursement/(Withdrawal) --
(xix) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xx) Remaining Amount to Residual Holder 59,040.01
Reserve Account balance, ending 1,751,034.78
Disbursements from Reserve Account:
Interest earned on Reserve Account to Residual Holder 9,653.21
</TABLE>
Reviewed By:
--------------------------------------------------------
SANDY B. HO
EXECUTIVE VICE PRESIDENT & CFO
<PAGE> 20
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of October 31, 2000 520,252.93
Investment earnings on amounts in Collection Account 5,674.80
Payments due Collection Account from last 3 business days of Collection Period 1,009,777.42
Additional contribution for terminated trade-ups and rebooked leases --
Servicer Advance on current Determination Date 2,241,237.73
--------------
AVAILABLE FUNDS ON PAYMENT DATE 3,776,942.88
Reserve Account balance 1,751,034.78
--------------
TOTAL AVAILABLE FUNDS 5,527,977.66
Initial Unpaid Amounts inadvertently deposited in Collection Account --
--------------
REMAINING AVAILABLE FUNDS 5,527,977.66
Indemnity Payments paid inadvertently deposited in Collection Account --
--------------
REMAINING AVAILABLE FUNDS 5,527,977.66
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 13,898.30
Unreimbursed Servicer Advances paid 13,898.30
--------------
Unreimbursed Servicer Advances remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 5,514,079.36
SERVICER FEES
Servicer Fees due 55,131.86
Servicer Fees paid 55,131.86
--------------
Servicer Fees remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 5,458,947.50
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
--------------
REMAINING AVAILABLE FUNDS 5,458,947.50
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
--------------
Indenture Trustee Fee remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 5,458,530.83
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(a)(ii)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07(a)(ii) 75,000.00
--------------
Total Indenture Trustee Expenses paid --
--------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 5,458,530.83
</TABLE>
Page 2
<PAGE> 21
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest --
Class A-2 Note Interest 118,031.53
Class A-3 Note Interest 105,098.57
Class A-4 Note Interest 360,555.57
Total Class A Interest due 583,685.67
--------------
REMAINING AVAILABLE FUNDS 4,874,845.16
CLASS B NOTE INTEREST
Class B Note Interest due 76,487.57
Class B Note Interest paid 76,487.57
--------------
Class B Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 4,798,357.59
CLASS C NOTE INTEREST
Class C Note Interest due 57,009.81
Class C Note Interest paid 57,009.81
--------------
Class C Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 4,741,347.78
CLASS D NOTE INTEREST
Class D Note Interest due 17,403.56
Class D Note Interest paid 17,403.56
--------------
Class D Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 4,723,944.22
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 2,378,822.73
Class A Note Principal Balance as of preceding Payment Date 102,735,617.42
--------------
Class A Base Principal Distribution Amount paid 2,378,822.73
--------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date --
Class A-1 Base Principal Distribution Amount paid --
--------------
Class A-1 Note Principal Balance after distribution --
--------------
Remaining Class A Base Principal Distribution Amount 2,378,822.73
--------------
Class A-2 Note Principal Balance as of preceding Payment Date 21,925,362.42
Class A-2 Base Principal Distribution Amount paid 2,378,822.73
--------------
Class A-2 Note Principal Balance after distribution 19,546,539.69
Remaining Class A Base Principal Distribution Amount --
--------------
Class A-3 Note Principal Balance as of preceding Payment Date 18,823,624.00
Class A-3 Base Principal Distribution Amount paid --
--------------
Class A-3 Note Principal Balance after distribution 18,823,624.00
Remaining Class A Base Principal Distribution Amount --
--------------
Class A-4 Note Principal Balance as of preceding Payment Date 61,986,631.00
Class A-4 Base Principal Distribution Amount paid --
--------------
Class A-4 Note Principal Balance after distribution 61,986,631.00
REMAINING AVAILABLE FUNDS 2,345,121.48
</TABLE>
Page 3
<PAGE> 22
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS B BASE PRINCIPAL DISTRIBUTION
Class B Note Principal Balance as of preceding Payment Date 12,607,841.41
Class B Base Principal Distribution due 224,827.76
Class B Base Principal Distribution paid 224,827.76
--------------
Class B Base Principal Distribution remaining unpaid --
Class B Note Principal Balance after distribution on Payment Date 12,383,013.65
REMAINING AVAILABLE FUNDS 2,120,293.73
CLASS C BASE PRINCIPAL DISTRIBUTION
Class C Note Principal Balance as of preceding Payment Date 8,540,795.89
Class C Base Principal Distribution due 152,302.67
Class C Base Principal Distribution paid 152,302.67
--------------
Class C Base Principal Distribution remaining unpaid --
Class C Note Principal Balance after distribution on Payment Date 8,388,493.22
REMAINING AVAILABLE FUNDS 1,967,991.05
CLASS D BASE PRINCIPAL DISTRIBUTION
Class D Note Principal Balance as of preceding Payment Date 2,033,522.26
Class D Base Principal Distribution due 36,262.54
Class D Base Principal Distribution paid 36,262.54
--------------
Class D Base Principal Distribution remaining unpaid --
Class D Note Principal Balance after distribution on Payment Date 1,997,259.72
REMAINING AVAILABLE FUNDS 1,931,728.51
CLASS A REALLOCATED PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Base Principal --
Class A-1 Reallocated Principal Distribution --
--------------
Class A-1 Note Principal Balance after Reallocation --
Remaining Available Funds 1,931,728.51
--------------
Class A-2 Note Principal Balance after Base Principal 19,546,539.69
Class A-2 Reallocated Principal Distribution --
--------------
Class A-2 Note Principal Balance after Reallocation 19,546,539.69
Remaining Available Funds 1,931,728.51
--------------
Class A-3 Note Principal Balance after Base Principal 18,823,624.00
Class A-3 Reallocated Principal Distribution --
--------------
Class A-3 Note Principal Balance after Reallocation 18,823,624.00
Remaining Available Funds 1,931,728.51
--------------
Class A-4 Note Principal Balance after Base Principal 61,986,631.00
Class A-4 Reallocated Principal Distribution --
--------------
Class A-4 Note Principal Balance after Reallocation 61,986,631.00
REMAINING AVAILABLE FUNDS 1,931,728.51
CLASS B REALLOCATED PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Base Principal 12,383,013.65
Class B Reallocated Principal Distribution paid --
--------------
Class B Note Principal Balance after Reallocation 12,383,013.65
REMAINING AVAILABLE FUNDS 1,931,728.51
</TABLE>
Page 4
<PAGE> 23
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS C REALLOCATED PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Base Principal 8,388,493.22
Class C Reallocated Principal Distribution paid --
--------------
Class C Note Principal Balance after Reallocation 8,388,493.22
REMAINING AVAILABLE FUNDS 1,931,728.51
CLASS D REALLOCATED PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Base Principal 1,997,259.72
Class D Reallocated Principal Distribution paid --
Class D Note Principal Balance after Reallocation 1,997,259.72
REMAINING AVAILABLE FUNDS 1,931,728.51
CLASS E NOTE INTEREST
Class E Note Interest due 12,866.10
Class E Note Interest paid 12,866.10
--------------
Class E Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 1,918,862.41
CLASS E BASE PRINCIPAL DISTRIBUTION
Class E Note Principal Balance as of preceding Payment Date 2,196,204.60
Class E Base Principal Distribution due 39,163.54
Class E Base Principal Distribution paid 39,163.54
--------------
Class E Base Principal Distribution remaining unpaid --
Class E Note Principal Balance after distribution on Payment Date 2,157,041.06
REMAINING AVAILABLE FUNDS 1,879,698.87
CLASS E REALLOCATED PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Base Principal 2,157,041.06
Class E Reallocated Principal Distribution paid --
Class E Note Principal Balance after Reallocation 2,157,041.06
REMAINING AVAILABLE FUNDS 1,879,698.87
CLASS A SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Reallocated Principal --
Class A-1 Supplemental Principal Distribution --
--------------
Class A-1 Note Principal Balance after Supplemental --
Remaining Available Funds 1,879,698.87
--------------
Class A-2 Note Principal Balance after Reallocated Principal 19,546,539.69
Class A-2 Supplemental Principal Distribution 58,495.64
--------------
Class A-2 Note Principal Balance after Supplemental 19,488,044.05
Remaining Available Funds 1,821,203.22
--------------
Class A-3 Note Principal Balance after Reallocated Principal 18,823,624.00
Class A-3 Supplemental Principal Distribution --
--------------
Class A-3 Note Principal Balance after Supplemental 18,823,624.00
Remaining Available Funds 1,821,203.22
--------------
Class A-4 Note Principal Balance after Reallocated Principal 61,986,631.00
Class A-4 Supplemental Principal Distribution --
--------------
Class A-4 Note Principal Balance after Supplemental 61,986,631.00
REMAINING AVAILABLE FUNDS 1,821,203.22
</TABLE>
Page 5
<PAGE> 24
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS B SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Reallocated Principal 12,383,013.65
Class B Supplemental Principal Distribution paid 5,528.55
--------------
Class B Note Principal Balance after Supplemental 12,377,485.10
REMAINING AVAILABLE FUNDS 1,815,674.67
CLASS C SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Reallocated Principal 8,388,493.22
Class C Supplemental Principal Distribution paid 3,745.15
--------------
Class C Note Principal Balance after Supplemental 8,384,748.07
REMAINING AVAILABLE FUNDS 1,811,929.53
CLASS D SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Reallocated Principal 1,997,259.72
Class D Supplemental Principal Distribution paid 891.70
--------------
Class D Note Principal Balance after Supplemental 1,996,368.02
REMAINING AVAILABLE FUNDS 1,811,037.82
CLASS E SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Reallocated Principal 2,157,041.06
Class E Supplemental Principal Distribution paid 963.04
--------------
Class E Note Principal Balance after Supplemental 2,156,078.02
REMAINING AVAILABLE FUNDS 1,810,074.79
RESERVE FUND
Required Reserve Fund Amount 1,751,034.78
Reserve Account Balance, Ending 1,751,034.78
Reserve Account Deposit/(Withdrawal) 0.00
--------------
REMAINING AVAILABLE FUNDS 59,040.01
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(a)(ii)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
--------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 59,040.01
AMOUNT PAYABLE TO TRUST CERTIFICATE HOLDER 59,040.01
</TABLE>
Page 6
<PAGE> 25
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 132,316,464.58
ADCPB, end of Collection Period 129,415,461.25
---------------
Base Principal Amount 2,901,003.33
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 2,900,687.09
Servicing Advances collected during the current Collection Period 2,886,788.79
---------------
Unreimbursed Servicing Advances as of current Determination Date 13,898.30
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 132,316,464.58
Servicer Fee Rate 0.500%
One-twelfth 1/12
------
Servicer Fee due current period 55,131.86
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 55,131.86
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
---------------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
---------------
Total Other Amounts Due Servicer under Servicing Agreement --
</TABLE>
<TABLE>
<S> <C> <C>
AGING DELINQUENCY STATISTICS - AS OF PRIOR MONTH-END
Current 127,908,103.40 97.36%
31 - 60 days past due 1,723,361.53 1.31%
61 - 90 days past due 919,418.32 0.70%
91+ days past due 828,311.46 0.63%
--------------
131,379,194.70
GROSS CHARGE OFF
ADCPB of All Defaulted Contracts 10,156.68
Less Recoveries 23,173.47
---------------
Total Charge Offs for the period (13,016.79)
End of Month ADCPB 129,415,461.25
Gross Charge Off Ratio (Total Charge Offs/ADCPB) (0.01)%
</TABLE>
Page 7
<PAGE> 26
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
INTEREST PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning
Initial of Period Interest Interest
Class Balance Balance Rate Interest Due Paid
----------- --------------- --------------- -------- ------------ -----------
<S> <C> <C> <C> <C> <C>
A-1 30,818,212.00 0.00 5.855% 0.00 0.00
A-2 31,956,385.00 21,925,362.42 6.460% 118,031.53 118,031.53
A-3 18,823,624.00 18,823,624.00 6.700% 105,098.57 105,098.57
A-4 61,986,631.00 61,986,631.00 6.980% 360,555.57 360,555.57
--------------- --------------- -------- ------------ -----------
Class A 143,584,852.00 102,735,617.42 6.82% 583,685.67 583,685.67
--------------- --------------- -------- ------------ -----------
B 13,570,520.00 12,607,841.41 7.280% 76,487.57 76,487.57
C 9,192,933.00 8,540,795.89 8.010% 57,009.81 57,009.81
D 2,188,793.00 2,033,522.26 10.270% 17,403.56 17,403.56
E 2,363,897.00 2,196,204.60 7.030% 12,866.10 12,866.10
--------------- --------------- -------- ------------ -----------
Total Notes 170,900,995.00 128,113,981.58 7.00% 747,452.72 747,452.72
--------------- --------------- -------- ------------ -----------
</TABLE>
PRINCIPAL PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning (Monthly) (Supplemental) Total End Ending
of Period Principal Principal Principal Principal of Period Certificate
Class Balance Paid Paid Paid Paid Balance Factor
--------- --------------- ------------- --------- ---------- ------------- --------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 0.00 0.00 0.00 0.00 0.00 0.00 0.0000000
A-2 21,925,362.42 2,378,822.73 0.00 58,495.64 2,437,318.37 19,488,044.05 0.6098326
A-3 18,823,624.00 0.00 0.00 0.00 0.00 18,823,624.00 1.0000000
A-4 61,986,631.00 0.00 0.00 0.00 0.00 61,986,631.00 1.0000000
--------------- ------------- --------- ---------- ------------- ---------------
Class A 102,735,617.42 2,378,822.73 0.00 58,495.64 2,437,318.37 100,298,299.05
--------------- ------------- --------- ---------- ------------- ---------------
B 12,607,841.41 224,827.76 0.00 5,528.55 230,356.31 12,377,485.10 0.9120863
C 8,540,795.89 152,302.67 0.00 3,745.15 156,047.82 8,384,748.07 0.9120863
D 2,033,522.26 36,262.54 0.00 891.70 37,154.24 1,996,368.02 0.9120863
E 2,196,204.60 39,163.54 0.00 963.04 40,126.58 2,156,078.02 0.9120863
--------------- ------------- --------- ---------- ------------- ---------------
Total Notes 128,113,981.58 2,831,379.25 0.00 69,624.08 2,901,003.33 125,212,978.25
--------------- ------------- --------- ---------- ------------- ---------------
</TABLE>
Page 8
<PAGE> 27
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
PRINCIPAL PAYMENT CALCULATION
<TABLE>
<CAPTION>
Investor Investor Investor Supplemental
(defined) Monthly Reallocated Supplemental Total Percentage
Class Principal Principal Principal Principal of Principal
Class Percentage Amount Amount Amount Amount Allocated
----- ---------- ------------- ------------ ------------ ------------- ------------
<S> <C> <C> <C> <C> <C> <C>
A 82.00% 2,378,822.73 0.00 58,495.64 2,437,318.37 84.02%
B 7.75% 224,827.76 0.00 5,528.55 230,356.31 7.94%
C 5.25% 152,302.67 0.00 3,745.15 156,047.82 5.38%
D 1.25% 36,262.54 0.00 891.70 37,154.24 1.28%
E 1.35% 39,163.54 0.00 963.04 40,126.58 1.38%
---------- ------------- ------------ ------------ ------------- ------------
2,831,379.25 0.00 69,624.08 2,901,003.33 100.00%
---------- ------------- ------------ ------------ ------------- ------------
</TABLE>
FLOOR CALCULATION
<TABLE>
<CAPTION>
Class Floor Hit? Floored
Class Floors (Y/N) Prin Amount
----- ------ ---------- -----------
<S> <C> <C> <C>
A N/A
B -- No 224,827.76
C -- No 152,302.67
D -- No 36,262.54
E -- No 39,163.54
</TABLE>
<TABLE>
<S> <C> <C>
(Retained) Certificate Balance 4,202,483.00
Initial OC Percentage 2.40%
Overcollateralization Balance (prior) 4,202,483.00
Overcollateralization Balance (current) 4,202,483.00
Cumulative Loss Amount 0.00
Available Funds+Collection Account-Servicing 5,458,530.83
</TABLE>
Page 9
<PAGE> 28
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment of
Interest required to be made under the terms of such Notes or the Indenture
when due; and, No
B) Failure to distribute to the Noteholders (x) on any Payment Date, an
amount equal to the principal due on the Outstanding Notes as of such
Payment Date to the extent that sufficient Available Funds are on deposit in
the Collection Account of (y) on the Class A-1 Maturity Date, the Class A-2
Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date, the
Class B Maturity Date, the Class C Maturity Date, the Class D Maturity Date,
or the Class E Maturity Date, as the case may be, on any remaining principal
owed on the outstanding Class A-1 Notes, Class A-2 Notes, Class A-3 Notes,
Class A-4 Notes, Class B Notes, Class C Notes, Class D Notes, or Class E
Notes, as the case may be. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
---------- ------------------------------------------------------------------------- ------
<S> <C> <C>
6.01(i) Failure to make payment, deposit, transfer, or delivery required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn
or dismissed within 60 days. No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
</TABLE>
Page 10
<PAGE> 29
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Available Funds $2,706,799.70
Deposit from Reserve Account $ 321,324.83
-------------
Total Available Amount to Note Holders: $3,028,124.53
Disbursements from Collection Account: Section 3.05 of the Indenture
(i) Initial Unpaid Amounts or servicing charges inadvertently deposited in Collection Account $ 0.00
(ii) Indemnity Payments paid inadvertently deposited in Collection Account $ 0.00
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances (Other than current Collection Period) $ 233,148.68
(b) Servicer Fees from current and prior Collection Period $ 76,831.34
(iv) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees $ 416.67
(v) Reimbursable Trustee Expenses: Section 7.07(a)(ii) $ 0.00
(vi) Class A-1 through A-2 Note Interest on a pari passu basis:
Class A-1 Note Interest $ 441,550.98
Class A-2 Note Interest $ 644,910.00
(vii) Class B Note Interest $ 93,099.33
(viii) Class A Base Principal Distribution Amount
Class A-1 Principal Distribution Amount $1,504,689.09
Class A-2 Principal Distribution Amount $ 0.00
(ix) Class B Base Principal Distribution Amount $ 0.00
(x) Supplemental Interest Reserve Account addition amount $ 33,478.44
(xi) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) $ 0.00
(xii) Excess to Trust Certificate Holder $ 0.00
</TABLE>
Reviewed By:
-------------------------------------------------------------------
E. Roger Gebhart
Executive Vice President and Treasurer
Page 1
<PAGE> 30
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of October 31, 2000 1,263,300.94
Investment earnings on amounts in Collection Account 9,753.03
Payments due Collection Account from last 3 business days of Collection Period 627,738.60
Servicer Advance on current Determination Date 765,596.71
Additional Contribution for loss on termination 40,410.42
Deposit from Reserve Account 321,324.83
Deposit from Letter of Credit Account 0.00
AVAILABLE FUNDS ON PAYMENT DATE 3,028,124.53
Initial Unpaid Amounts inadvertently deposited in Collection Account 0.00
REMAINING AVAILABLE FUNDS 3,028,124.53
Indemnity Payments paid inadvertently deposited in Collection Account 0.00
REMAINING AVAILABLE FUNDS 3,028,124.53
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 233,148.68
Unreimbursed Servicer Advances paid 233,148.68
---------------
Unreimbursed Servicer Advances remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 2,794,975.85
SERVICER FEES
Servicer Fees due 76,831.34
Servicer Fees paid 76,831.34
---------------
Servicer Fees remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 2,718,144.51
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT 0.00
REMAINING AVAILABLE FUNDS 2,718,144.51
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
---------------
Indenture Trustee Fee remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 2,717,727.85
REIMBURSABLE TRUSTEE EXPENSES PER SECTION 7.07(a)(ii)
Total Indenture Trustee Expenses due 0.00
Cap on Indenture Trustee Expenses per section 7.07(a)(ii) 75,000.00
Total Indenture Trustee Expenses paid 0.00
---------------
Indenture Trustee Expenses unpaid 0.00
REMAINING AVAILABLE FUNDS 2,717,727.85
CLASS A-1 THROUGH A-2 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest due 441,550.98
Class A-1 Note Interest paid 441,550.98
---------------
Class A-1 Interest remaining unpaid 0.00
Class A-2 Note Interest due 644,910.00
Class A-2 Note Interest paid 644,910.00
---------------
</TABLE>
Page 2
<PAGE> 31
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Class A-2 Interest remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 1,631,266.87
CLASS B NOTE INTEREST
Class B Note Interest due 93,099.33
Class B Note Interest paid 93,099.33
---------------
Class B Note Interest remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 1,538,167.54
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance as of preceding Payment Date 70,742,480.22
Class A-1 Base Principal Distribution due 1,504,689.09
Class A-1 Base Principal Distribution Amount paid 1,504,689.09
---------------
Class A-1 Base Principal Distribution remaining unpaid 0.00
Class A-1 Note Principal Balance after distribution on Payment Date 69,237,791.13
Class A-2 Note Principal Balance as of preceding Payment Date 99,600,000.00
Class A-2 Base Principal Distribution due 0.00
Class A-2 Base Principal Distribution Amount paid 0.00
---------------
Class A-2 Base Principal Distribution remaining unpaid 0.00
Class A-2 Note Principal Balance after distribution on Payment Date 99,600,000.00
REMAINING AVAILABLE FUNDS 33,478.44
CLASS B BASE PRINCIPAL DISTRIBUTION (BEGINNING JUNE 2001)
Class B Note Principal Balance as of preceding Payment Date 14,052,729.00
Class B Base Principal Distribution due 0.00
Class B Base Principal Distribution paid 0.00
---------------
Class B Base Principal Distribution remaining unpaid 0.00
Class B Note Principal Balance after distribution on Payment Date 14,052,729.00
REMAINING AVAILABLE FUNDS 33,478.44
SUPPLEMENTAL INTEREST RESERVE ACCOUNT
Supplemental Interest Reserve Account Addition 33,478.44
REMAINING AVAILABLE FUNDS 0.00
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(a)(ii)
Indenture Trustee Expenses unpaid per above 0.00
Remaining Indenture Trustee Expenses paid 0.00
---------------
Remaining Indenture Trustee Expenses unpaid 0.00
REMAINING AVAILABLE FUNDS 0.00
AMOUNT PAYABLE TO TRUST CERTIFICATE HOLDER 0.00
</TABLE>
Page 3
<PAGE> 32
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
RESERVE ACCOUNT: SECTION 3.04(a)
Initial Reserve Account Balance 3,915,597.76
Plus: Earnings for Collection Period per Section 3.04(b) 21,530.31
Less: Withdrawal per Section 3.04(c) 321,324.83
Ending Reserve Account Balance 3,615,803.24
LETTER OF CREDIT ACCOUNT: SECTION 3.08(a)
Initial Letter of Credit Account Balance --
Plus: Earnings for Collection Period --
Plus: Additions from draws under Section 3.08(b) --
Less: Withdrawal pursuant to Section 3.08(c), To Collection Account --
Ending Letter of Credit Account Balance --
SUPPLEMENTAL INTEREST RESERVE ACCOUNT: SECTION 3.09(b)
Available Amounts for Related Collection Period less: Items 3.05(i) through (ix) 33,478.44
Supplemental Interest Reserve Account Addition (Up to Supplemental Interest
Required Amount) 33,478.44
Supplemental Interest Reserve Account Distribution to Collection Account --
Supplemental Interest Reserve Required Amount calculation
Beginning Balance 348,107.71
Plus: Additions (Up to 1% of Initial ADCPB) 33,478.44
Plus: Earnings for Collection Period 1,542.95
Less: Required Distributions, To Collection Account --
Ending Supplemental Interest Reserve Account Balance 383,129.10
</TABLE>
Page 4
<PAGE> 33
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 184,395,209.22
ADCPB, end of Collection Period 182,890,520.13
---------------
Base Principal Amount 1,504,689.09
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 1,179,911.91
Servicing Advances collected during the current Collection Period 946,763.23
---------------
Unreimbursed Servicing Advances as of current Determination Date 233,148.68
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 184,395,209.22
Servicer Fee Rate 0.500%
One-twelfth 1/12
---------------
Servicer Fee due current period 76,831.34
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 76,831.34
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage 0.00
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due 0.00
Prior Indenture Trustee Expenses arrearage 0.00
---------------
Total Indenture Trustee Expenses due 0.00
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period 0.00
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage 0.00
---------------
Total Other Amounts Due Servicer under Servicing Agreement 0.00
</TABLE>
Page 5
<PAGE> 34
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
INTEREST PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning Total Total
Initial of Period Interest Current Overdue Interest Interest Interest
Class Balance Balance Rate Interest Due Interest Due Paid Shortfall
----------- --------------- --------------- -------- ------------- -------- ------------- ------------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 75,000,000.00 70,742,480.22 7.490% 441,550.98 0.00 441,550.98 441,550.98 0.00
A-2 99,600,000.00 99,600,000.00 7.770% 644,910.00 0.00 644,910.00 644,910.00 0.00
--------------- --------------- -------- ------------- -------- ------------- ------------- ---------
Class A 174,600,000.00 170,342,480.22 1,086,460.98 0.00 1,086,460.98 1,086,460.98 0.00
--------------- --------------- ------------- -------- ------------- ------------- ---------
B 14,052,729.00 14,052,729.00 7.950% 93,099.33 0.00 93,099.33 93,099.33 0.00
--------------- --------------- -------- ------------- -------- ------------- ------------- ---------
Total Notes 188,652,729.00 184,395,209.22 1,179,560.31 0.00 1,179,560.31 1,179,560.31 0.00
--------------- --------------- ------------- -------- ------------- ------------- ---------
</TABLE>
PRINCIPAL PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning Current End Ending
of Period Principal Principal of Period Certificate
Class Balance Due Paid Balance Factor
----------- --------------- ------------- ------------- --------------- -------------
<S> <C> <C> <C> <C> <C>
A-1 70,742,480.22 1,504,689.09 1,504,689.09 69,237,791.13 0.92317055
A-2 99,600,000.00 0.00 0.00 99,600,000.00 1.00000000
--------------- ------------- ------------- --------------- -------------
Class A 170,342,480.22 1,504,689.09 1,504,689.09 168,837,791.13
--------------- ------------- ------------- ---------------
B 14,052,729.00 0.00 0.00 14,052,729.00 1.00000000
--------------- ------------- ------------- --------------- -------------
Total Notes 184,395,209.22 1,504,689.09 1,504,689.09 182,890,520.13
--------------- ------------- ------------- ---------------
</TABLE>
<TABLE>
<CAPTION>
Beginning Base Principal Principal
Principal of Period Overdue Distribution Payment
Percent Balance Principal Amount Amount
--------- --------------- --------- -------------- -------------
<S> <C> <C> <C> <C> <C>
Class A 100.00% 170,342,480.22 0.00 1,504,689.09 1,504,689.09
Class B 0.00% 14,052,729.00 0.00 0.00 0.00
Base Principal Amount: 1,504,689.09
Gross Charge Off Event: No
Available Funds less Fees: 2,717,727.85
</TABLE>
Page 6
<PAGE> 35
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C> <C>
a) Failure to distribute to the Noteholders all or part of any payment of Interest required
to be made under the terms of such Notes or the Indenture when due; and, No
b) Failure to distribute to the Noteholders (x) on any Payment Date, an amount equal to the
principal due on the Outstanding Notes as of such Payment Date to the extent that
sufficient Available Funds are on deposit in the Collection Account of (y) on the Class
A-1 Maturity Date, the Class A-2 Maturity Date, the Class B Maturity Date, as the case
may be, on any remaining principal owed on the outstanding Class A-1 Notes, Class A-2
Notes, Class B Notes, as the case may be. No
c) Failure on the part of the Trust duly to observe or perform in any material respect any
other Covenants or Agreements. No
d) The Trust shall consent to the appointment of a Custodian, Receiver, Trustee, or
Liquidator, etc. No
e) The Trust shall file a voluntary petition in bankruptcy or a voluntary petition or answer
seeking reorganization in a proceeding under any bankruptcy laws etc. No
f) A petition against the Trust in a proceeding under applicable bank laws or other insolvency
laws, as now or hereafter in effect, shall be filled and shall be consented to by the Trust
or shall not be stayed, withdrawn, or dismissed within 60 days thereafter, etc. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
--------- ------------------------------------------------------------------------ ------
<S> <C> <C>
6.01(i) Failure to make payment, deposit, transfer, or delivery required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants or Agreements in Transaction Documents No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn
or dismissed within 60 days No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
</TABLE>
Page 7
<PAGE> 36
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C> <C> <C>
AGING DELINQUENCY STATISTICS - AS OF COLLECTION PERIOD END
Current 181,115,814.45 99.03%
31 - 60 days past due 1,428,122.99 0.78%
61 - 90 days past due 346,582.69 0.19%
91+ days past due 0.00 0.00%
--------------
182,890,520.13
PUTBACK SUMMARY
Defaults for Related Collection Period 545,122.27
Total Defaulted Contracts 1,196,279.67
Recoveries from Reserve Account for Current Period 321,324.83
Total Recoveries from Reserve Account 972,482.23
Net Remaining Defaulted 223,797.44
Recoveries from Source Recourse (Up to Available Source Recourse) 0.00
Recoveries from Draw on Letter of Credit Account 0.00
10% LIMITED RECOURSE AMOUNT
Beginning Amount available under 10% limited recourse 19,238,909.32
Beginning % available under 10% limited recourse 9.4037%
Current months buy backs under 10% limited recourse obligation 508,247.96
Cumulative amount bought back under 10% limited recourse obligation 1,147,272.39
Cumulative % bought back under 10% limited recourse obligation 0.0000%
LETTERS OF CREDIT
Beginning Value of the 2 Letters of Credit 20,000,000.00
Amount of step down in the Letters of Credit 0.00
Ending Value of the 2 Letters of Credit 20,000,000.00
</TABLE>
<TABLE>
<CAPTION>
LETTER OF CREDIT DRAW EVENTS (NO/YES)
--------
<S> <C>
(i) Non Performance of Buy Back Obligation - Deposit full amount of both LOCs (No/Yes): No
(ii) Downgrade by Confirming bank - Deposit full amount of relevant LOC:
Northern Trust Company (Downgraded below Aa/AA by Moodys and S&P respectively) No
Bank One (Downgraded below Aa/A by Moodys and S&P respectively) No
(iii) Non-Renewal of Letters of Credit for 364 days by issuing or confirming bank: No
Deposit full amount of relevant LOC:
Draw on Letters of Credit? No
If a draw on the letters of credit, amount deposited in Letter of Credit Account 0.00
</TABLE>
Page 8
<PAGE> 37
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<CAPTION>
GROSS CHARGE EVENT CALCULATION: Result
------------
<S> <C>
Defaulted Contracts Current Period 545,122
Total Defaulted Contracts Prior Period 651,157
------------
Total ADCPB of all Defaulted Contracts 1,196,280
Total Initial ADCPB 188,652,729
------------
% Total Defaulted 0.63%
Maximum Allowed 10.00%
Gross Charge Off Event: No
</TABLE>
Page 9
<PAGE> 38
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 6,351,306.40
Reserve Account balance, beginning 2,114,952.31
Disbursements from Collection Account: Section 3.05(a) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances --
(b) Servicer Fees from current and prior Collection Period 80,152.34
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(v) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vi) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest 196,435.42
Class A-2 Note Interest 181,357.16
Class A-3 Note Interest 320,780.10
Class A-4 Note Interest 210,522.36
(vii) Class B Note Interest 136,943.16
(viii) Class C Note Interest 86,713.05
(ix) Class D Note Interest 40,571.84
(x) Class A Base Principal Distribution Amount
Class A-1 Principal Distribution Amount 5,008,791.20
Class A-2 Principal Distribution Amount --
Class A-3 Principal Distribution Amount --
Class A-4 Principal Distribution Amount --
(xi) Class B Base Principal Distribution Amount --
(xii) Class C Base Principal Distribution Amount --
(xiii) Class D Base Principal Distribution Amount --
(xv) Class E Note Interest 26,428.97
(xvi) Class E Principal Distribution Amount --
(xviii) Reserve Account Reimbursement/(Withdrawal) 0.00
(xix) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xx) Remaining Amount to Residual Holder 62,194.15
Reserve Account balance, ending 2,114,952.31
Disbursements from Reserve Account:
Interest earned on Reserve Account to Residual Holder 11,663.39
</TABLE>
Reviewed By:
----------------------------------------------------------------
SANDY B. HO
EVP & CFO
<PAGE> 39
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of October 31, 2000 1,167,724.41
Investment earnings on amounts in Collection Account 12,461.13
Payments due Collection Account from last 3 business days of Collection Period 1,653,212.48
Additional contribution for terminated trade-ups and rebooked leases 123,522.97
Servicer Advance on current Determination Date 3,394,385.41
--------------
AVAILABLE FUNDS ON PAYMENT DATE 6,351,306.40
Reserve Account balance 2,114,952.31
--------------
TOTAL AVAILABLE FUNDS 8,466,258.71
Initial Unpaid Amounts inadvertently deposited in Collection Account --
--------------
REMAINING AVAILABLE FUNDS 8,466,258.71
Indemnity Payments paid inadvertently deposited in Collection Account --
--------------
REMAINING AVAILABLE FUNDS 8,466,258.71
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due --
Unreimbursed Servicer Advances paid --
--------------
Unreimbursed Servicer Advances remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 8,466,258.71
SERVICER FEES
Servicer Fees due 80,152.34
Servicer Fees paid 80,152.34
--------------
Servicer Fees remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 8,386,106.37
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
--------------
REMAINING AVAILABLE FUNDS 8,386,106.37
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
--------------
Indenture Trustee Fee remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 8,385,689.71
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(a)(ii)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07(a)(ii) 75,000.00
--------------
Total Indenture Trustee Expenses paid --
--------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 8,385,689.71
</TABLE>
Page 2
<PAGE> 40
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest 196,435.42
Class A-2 Note Interest 181,357.16
Class A-3 Note Interest 320,780.10
Class A-4 Note Interest 210,522.36
Total Class A Interest due 909,095.04
--------------
REMAINING AVAILABLE FUNDS 7,476,594.67
CLASS B NOTE INTEREST
Class B Note Interest due 136,943.16
Class B Note Interest paid 136,943.16
--------------
Class B Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 7,339,651.51
CLASS C NOTE INTEREST
Class C Note Interest due 86,713.05
Class C Note Interest paid 86,713.05
--------------
Class C Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 7,252,938.47
CLASS D NOTE INTEREST
Class D Note Interest due 40,571.84
Class D Note Interest paid 40,571.84
--------------
Class D Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 7,212,366.63
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 4,893,589.00
Class A Note Principal Balance as of preceding Payment Date 145,307,916.04
--------------
Class A Base Principal Distribution Amount paid 4,893,589.00
--------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date 30,888,996.04
Class A-1 Base Principal Distribution Amount paid 4,893,589.00
--------------
Class A-1 Note Principal Balance after distribution 25,995,407.04
--------------
Remaining Class A Base Principal Distribution Amount --
--------------
Class A-2 Note Principal Balance as of preceding Payment Date 29,609,332.00
Class A-2 Base Principal Distribution Amount paid --
--------------
Class A-2 Note Principal Balance after distribution 29,609,332.00
Remaining Class A Base Principal Distribution Amount --
--------------
Class A-3 Note Principal Balance as of preceding Payment Date 51,393,341.00
Class A-3 Base Principal Distribution Amount paid --
--------------
Class A-3 Note Principal Balance after distribution 51,393,341.00
Remaining Class A Base Principal Distribution Amount --
--------------
Class A-4 Note Principal Balance as of preceding Payment Date 33,416,247.00
Class A-4 Base Principal Distribution Amount paid --
--------------
Class A-4 Note Principal Balance after distribution 33,416,247.00
REMAINING AVAILABLE FUNDS 2,318,777.63
</TABLE>
Page 3
<PAGE> 41
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS B BASE PRINCIPAL DISTRIBUTION
Class B Note Principal Balance as of preceding Payment Date 21,149,523.00
Class B Base Principal Distribution due --
Class B Base Principal Distribution paid --
--------------
Class B Base Principal Distribution remaining unpaid --
Class B Note Principal Balance after distribution on Payment Date 21,149,523.00
REMAINING AVAILABLE FUNDS 2,318,777.63
CLASS C BASE PRINCIPAL DISTRIBUTION
Class C Note Principal Balance as of preceding Payment Date 12,689,714.00
Class C Base Principal Distribution due --
Class C Base Principal Distribution paid --
--------------
Class C Base Principal Distribution remaining unpaid --
Class C Note Principal Balance after distribution on Payment Date 12,689,714.00
REMAINING AVAILABLE FUNDS 2,318,777.63
CLASS D BASE PRINCIPAL DISTRIBUTION
Class D Note Principal Balance as of preceding Payment Date 4,229,905.00
Class D Base Principal Distribution due --
Class D Base Principal Distribution paid --
--------------
Class D Base Principal Distribution remaining unpaid --
Class D Note Principal Balance after distribution on Payment Date 4,229,905.00
REMAINING AVAILABLE FUNDS 2,318,777.63
CLASS A REALLOCATED PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Base Principal 25,995,407.04
Class A-1 Reallocated Principal Distribution --
--------------
Class A-1 Note Principal Balance after Reallocation 25,995,407.04
Remaining Available Funds 2,318,777.63
--------------
Class A-2 Note Principal Balance after Base Principal 29,609,332.00
Class A-2 Reallocated Principal Distribution --
--------------
Class A-2 Note Principal Balance after Reallocation 29,609,332.00
Remaining Available Funds 2,318,777.63
--------------
Class A-3 Note Principal Balance after Base Principal 51,393,341.00
Class A-3 Reallocated Principal Distribution --
--------------
Class A-3 Note Principal Balance after Reallocation 51,393,341.00
Remaining Available Funds 2,318,777.63
--------------
Class A-4 Note Principal Balance after Base Principal 33,416,247.00
Class A-4 Reallocated Principal Distribution --
--------------
Class A-4 Note Principal Balance after Reallocation 33,416,247.00
REMAINING AVAILABLE FUNDS 2,318,777.63
CLASS B REALLOCATED PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Base Principal 21,149,523.00
Class B Reallocated Principal Distribution paid --
--------------
Class B Note Principal Balance after Reallocation 21,149,523.00
REMAINING AVAILABLE FUNDS 2,318,777.63
</TABLE>
Page 4
<PAGE> 42
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS C REALLOCATED PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Base Principal 12,689,714.00
Class C Reallocated Principal Distribution paid --
--------------
Class C Note Principal Balance after Reallocation 12,689,714.00
REMAINING AVAILABLE FUNDS 2,318,777.63
CLASS D REALLOCATED PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Base Principal 4,229,905.00
Class D Reallocated Principal Distribution paid --
Class D Note Principal Balance after Reallocation 4,229,905.00
REMAINING AVAILABLE FUNDS 2,318,777.63
CLASS E NOTE INTEREST
Class E Note Interest due 26,428.97
Class E Note Interest paid 26,428.97
--------------
Class E Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 2,292,348.66
CLASS E BASE PRINCIPAL DISTRIBUTION
Class E Note Principal Balance as of preceding Payment Date 4,124,157.00
Class E Base Principal Distribution due --
Class E Base Principal Distribution paid --
--------------
Class E Base Principal Distribution remaining unpaid --
Class E Note Principal Balance after distribution on Payment Date 4,124,157.00
REMAINING AVAILABLE FUNDS 2,292,348.66
CLASS E REALLOCATED PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Base Principal 4,124,157.00
Class E Reallocated Principal Distribution paid --
Class E Note Principal Balance after Reallocation 4,124,157.00
REMAINING AVAILABLE FUNDS 2,292,348.66
CLASS A SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Reallocated Principal 25,995,407.04
Class A-1 Supplemental Principal Distribution 115,202.20
--------------
Class A-1 Note Principal Balance after Supplemental 25,880,204.84
Remaining Available Funds 2,177,146.46
--------------
Class A-2 Note Principal Balance after Reallocated Principal 29,609,332.00
Class A-2 Supplemental Principal Distribution --
--------------
Class A-2 Note Principal Balance after Supplemental 29,609,332.00
Remaining Available Funds 2,177,146.46
--------------
Class A-3 Note Principal Balance after Reallocated Principal 51,393,341.00
Class A-3 Supplemental Principal Distribution --
--------------
Class A-3 Note Principal Balance after Supplemental 51,393,341.00
Remaining Available Funds 2,177,146.46
--------------
Class A-4 Note Principal Balance after Reallocated Principal 33,416,247.00
Class A-4 Supplemental Principal Distribution --
--------------
Class A-4 Note Principal Balance after Supplemental 33,416,247.00
REMAINING AVAILABLE FUNDS 2,177,146.46
</TABLE>
Page 5
<PAGE> 43
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CLASS B SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Reallocated Principal 21,149,523.00
Class B Supplemental Principal Distribution paid --
--------------
Class B Note Principal Balance after Supplemental 21,149,523.00
REMAINING AVAILABLE FUNDS 2,177,146.46
CLASS C SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Reallocated Principal 12,689,714.00
Class C Supplemental Principal Distribution paid --
--------------
Class C Note Principal Balance after Supplemental 12,689,714.00
REMAINING AVAILABLE FUNDS 2,177,146.46
CLASS D SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Reallocated Principal 4,229,905.00
Class D Supplemental Principal Distribution paid --
--------------
Class D Note Principal Balance after Supplemental 4,229,905.00
REMAINING AVAILABLE FUNDS 2,177,146.46
CLASS E SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Reallocated Principal 4,124,157.00
Class E Supplemental Principal Distribution paid --
--------------
Class E Note Principal Balance after Supplemental 4,124,157.00
REMAINING AVAILABLE FUNDS 2,177,146.46
RESERVE FUND
Required Reserve Fund Amount 2,114,952.31
Reserve Account Balance, Ending 2,114,952.31
Reserve Account Deposit/(Withdrawal) 0.00
--------------
REMAINING AVAILABLE FUNDS 62,194.15
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(a)(II)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
--------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 62,194.15
AMOUNT PAYABLE TO TRUST CERTIFICATE HOLDER 62,194.15
</TABLE>
Page 6
<PAGE> 44
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 192,365,605.18
ADCPB, end of Collection Period 187,356,813.98
---------------
Base Principal Amount 5,008,791.20
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 4,348,473.12
Servicing Advances collected during the current Collection Period 4,348,473.12
---------------
Unreimbursed Servicing Advances as of current Determination Date --
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 192,365,605.18
Servicer Fee Rate 0.500%
One-twelfth 1/12
---------------
Servicer Fee due current period 80,152.34
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 80,152.34
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
---------------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
---------------
Total Other Amounts Due Servicer under Servicing Agreement --
AGING DELINQUENCY STATISTICS - AS OF PRIOR MONTH-END
Current 185,201,075.06 97.28%
31 - 60 days past due 2,655,726.07 1.39%
61 - 90 days past due 1,010,403.21 0.53%
91+ days past due 1,511,169.69 0.79%
--------------
190,378,374.02
GROSS CHARGE OFF
ADCPB of All Defaulted Contracts 154,964.77
Less Recoveries 172,113.86
---------------
Total Charge Offs for the period (17,149.09)
End of Month ADCPB 187,356,813.98
Gross Charge Off Ratio (Total Charge Offs/ADCPB) (0.01)%
</TABLE>
Page 7
<PAGE> 45
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
INTEREST PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning
Initial of Period Interest Interest
Class Balance Balance Rate Interest Due Paid
----------- -------------- -------------- -------- ------------ ------------
<S> <C> <C> <C> <C> <C>
A-1 50,018,622.00 30,888,996.04 6.938% 196,435.42 196,435.42
A-2 29,609,332.00 29,609,332.00 7.350% 181,357.16 181,357.16
A-3 51,393,341.00 51,393,341.00 7.490% 320,780.10 320,780.10
A-4 33,416,247.00 33,416,247.00 7.560% 210,522.36 210,522.36
----------- -------------- -------------- ------- ------------ ------------
Class A 164,437,542.00 145,307,916.04 7.36% 909,095.04 909,095.04
----------- -------------- -------------- ------- ------------ ------------
B 21,149,523.00 21,149,523.00 7.770% 136,943.16 136,943.16
C 12,689,714.00 12,689,714.00 8.200% 86,713.05 86,713.05
D 4,229,905.00 4,229,905.00 11.510% 40,571.84 40,571.84
E 4,124,157.00 4,124,157.00 7.690% 26,428.97 26,428.97
----------- -------------- -------------- ------- ------------ ------------
Total Notes 206,630,841.00 187,501,215.04 7.56% 1,199,752.05 1,199,752.05
----------- -------------- -------------- ------- ------------ ------------
</TABLE>
PRINCIPAL PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning (Monthly) (Reallocated) (Supplemental) Total End Ending
of Period Principal Principal Principal Principal of Period Certificate
Class Balance Paid Paid Paid Paid Balance Factor
----------- -------------- ------------ ------------- -------------- ------------ -------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 30,888,996.04 4,893,589.00 0.00 115,202.20 5,008,791.20 25,880,204.84 0.5174114
A-2 29,609,332.00 0.00 0.00 0.00 0.00 29,609,332.00 1.0000000
A-3 51,393,341.00 0.00 0.00 0.00 0.00 51,393,341.00 1.0000000
A-4 33,416,247.00 0.00 0.00 0.00 0.00 33,416,247.00 1.0000000
----------- -------------- ------------ ------------- -------------- ------------ --------------
Class A 145,307,916.04 4,893,589.00 0.00 115,202.20 5,008,791.20 140,299,124.84
----------- -------------- ------------ ------------- -------------- ------------ --------------
B 21,149,523.00 0.00 0.00 0.00 0.00 21,149,523.00 1.0000000
C 12,689,714.00 0.00 0.00 0.00 0.00 12,689,714.00 1.0000000
D 4,229,905.00 0.00 0.00 0.00 0.00 4,229,905.00 1.0000000
E 4,124,157.00 0.00 0.00 0.00 0.00 4,124,157.00 1.0000000
----------- -------------- ------------ ------------- -------------- ------------ --------------
Total Notes 187,501,215.04 4,893,589.00 0.00 115,202.20 5,008,791.20 182,492,423.84
----------- -------------- ------------ ------------- -------------- ------------ --------------
</TABLE>
Page 8
<PAGE> 46
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
PRINCIPAL PAYMENT CALCULATION
<TABLE>
<CAPTION>
Investor Investor Investor Supplemental
(defined) Monthly Reallocated Supplemental Total Percentage
Class Principal Principal Principal Principal of Principal
Class Percentage Amount Amount Amount Amount Allocated
----- ---------- ------------ ----------- ------------ ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
A 77.75% 4,893,589.00 0.00 115,202.20 5,008,791.20 79.58%
B 10.00% 0.00 0.00 0.00 0.00 10.24%
C 6.00% 0.00 0.00 0.00 0.00 6.14%
D 2.00% 0.00 0.00 0.00 0.00 2.05%
E 1.95% 0.00 0.00 0.00 0.00 2.00%
----- ---------- ------------ ----------- ------------ ------------ -------------
4,893,589.00 0.00 115,202.20 5,008,791.20 100.00%
----- ---------- ------------ ----------- ------------ ------------ -------------
</TABLE>
FLOOR CALCULATION
<TABLE>
<CAPTION>
Class Floor Hit? Floored
Class Floors (Y/N) Prin Amount
----- ------ ---------- -----------
<S> <C> <C> <C>
A N/A
B -- No --
C -- No --
D -- No --
E -- No --
----- ------ ---------- -----------
</TABLE>
<TABLE>
<S> <C> <C>
(Retained) Certificate Balance 4,864,390.14
Initial OC Percentage 2.30%
Overcollateralization Balance (prior) 4,864,390.14
Overcollateralization Balance (current) 4,864,390.14
Cumulative Loss Amount 0.00
Available Funds+Collection Account-Servicing 8,385,689.71
</TABLE>
Page 9
<PAGE> 47
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED NOVEMBER 1, 2000
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment of Interest required to be made
under the terms of such Notes or the Indenture when due; and, No
B) Failure to distribute to the Noteholders (x) on any Payment Date, an amount equal to the principal due
on the Outstanding Notes as of such Payment Date to the extent that sufficient Available Funds are on
deposit in the Collection Account of (y) on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the
Class A-3 Maturity Date, the Class A-4 Maturity Date, the Class B Maturity Date, the Class C Maturity Date,
the Class D Maturity Date, or the Class E Maturity Date, as the case may be, on any remaining principal
owed on the outstanding Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B
Notes, Class C Notes, Class D Notes, or Class E Notes, as the case may be. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
--------- ------------------------------------------------------------------------- ------
<S> <C> <C>
6.01(i) Failure to make payment, deposit, transfer, or delivery required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed,
withdrawn or dismissed within 60 days No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
</TABLE>
Page 10
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