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Previous: TOYOTA AUTO LEASE TRUST 1998 C, 8-K, 2000-06-30 |
Next: BROKAT INFOSYSTEMS AG, 425, 2000-06-30 |
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1998-C
Distribution Date of June 26, 2000 for the Collection Period of
May 1, 2000 through May 31, 2000
<TABLE>
<S> <C>
POOL DATA - ORIGINAL DEAL PARAMETERS
Aggregate Net Investment Value (ANIV) 749,988,732.51
Discounted Principal Balance 749,988,732.51
Servicer Advance 1,324,812.20
Servicer Payahead 1,260,008.73
Number of Contracts 34,185
Weighted Average Lease Rate 6.81%
Weighted Average Remaining Term 33.8
Servicing Fee Percentage 1.00%
POOL DATA - CURRENT MONTH
Aggregate Net Investment Value 667,062,491.00
Discounted Principal Balance 666,540,983.83
Servicer Advances 2,049,410.28
Servicer Pay Ahead Balance 1,998,757.02
Maturity Advances Outstanding -
Number of Current Contracts 35,923
Weighted Average Lease Rate 6.81%
Weighted Average Remaining Term 15.3
</TABLE>
<TABLE>
---------------------------------------------------------------------------------------------------------------------------------
<S> <C>
RESERVE FUND:
Initial Deposit Amount 28,124,577.47
Specified Reserve Fund Percentage 9.435%
Specified Reserve Fund Amount 70,761,436.91
<CAPTION>
<S> <C> <C> <C>
Class A Class B Total
Amount Amount Amount
------------- ------------ -------------
Beginning Balance 65,311,354.00 1,095,750.00 66,407,104.00
Withdrawal Amount - - -
Cash Capital Contribution
Transferor Excess 1,182,390.32 1,182,390.32
----------------------------------------------
Reserve Fund Balance Prior to Release 66,493,744.32 1,095,750.00 67,589,494.32
Specified Reserve Fund Balance 69,665,686.91 1,095,750.00 70,761,436.91
----------------------------------------------
Release to Transferor - - -
Ending Reserve Fund Balance 66,493,744.32 1,095,750.00 67,589,494.32
Prior Cumulative Withdrawal Amount - - -
Cumulative Withdrawal Amount - - -
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: Vehicles
--------
<S> <C> <C>
Liquidated Contracts 104
---
Discounted Principal Balance 1,887,102.79
Net Liquidation Proceeds (1,634,956.00)
Recoveries - Previously Liquidated Contracts -
--------------
Aggregate Credit Losses for the Collection Period 252,146.79
=============
Cumulative Credit Losses for all Periods 4,022,041.95
=============
Repossessed in Current Period 30
---
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.40%
First Preceding Collection Period 0.27%
Current Collection Period 0.45%
---------------------------------------------------------------------------------------------------------------------------------
CONDITION (i)i (CHARGE-OFF RATE)
Three Month Average 0.37%
Charge-off Rate Indicator ( > 1.25%) CONDITION NOT MET
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
DELINQUENT CONTRACTS: Percent Accounts Percent ANIV
------- -------- ------- ----
<S> <C> <C> <C> <C>
31-60 Days Delinquent 1.28% 461 1.23% 8,191,221.83
61-90 Days Delinquent 0.11% 39 0.11% 712,791.80
Over 90 Days Delinquent 0.05% 17 0.05% 312,027.90
-------------------- --------------------
Total Delinquencies 517 9,216,041.53
==================== ====================
RATIO OF NUMBER OF CONTRACTS DELINQUENT
60 DAYS OR MORE TO THE OUTSTANDING NUMBER OF
RECEIVABLES AS OF EACH COLLECTION PERIOD
(INCLUDES REPOSSESSIONS):
Second Preceding Collection Period 0.08%
First Preceding Collection Period 0.14%
Current Collection Period 0.16%
---------------------------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
Three Month Average 0.13%
Delinquency Percentage Indicator ( > 1.25%) CONDITION NOT MET
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: Vehicles
--------
<S> <C> <C>
Matured Lease Vehicle Inventory Sold 12 204,419.78
Net Liquidation Proceeds --- (187,058.05)
------------
Net Residual Value (Gain) Loss 17,361.73
===========
Cumulative Residual Value (Gain)
Loss all periods 424,844.22
==========
<CAPTION>
Average Average
Number Scheduled Sale Net Liquidation Residual
Sold Maturities Ratio Proceeds Value
------- ---------- ----- ---------------- ---------
<S> <C> <C> <C> <C> <C>
MATURED VEHICLES SOLD FOR
EACH COLLECTION PERIOD:
Second Preceding Collection Period 26 10 100.00% 14,979.44 17,123.22
First Preceding Collection Period 13 1 100.00% 14,241.89 15,320.42
Current Collection Period 12 2 100.00% 15,588.17 17,741.64
Three Month Average 14,934.67 16,809.19
Ratio of Three Month Average Net
Liquidation Proceeds to Average -----------
Residual Value 88.85%
-----------
---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT PERIOD
CONDITION (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
-------------- ---------
<S> <C> <C>
a) Number of Vehicles Sold > 25% of Scheduled Maturities 100.00% YES
b) Number of Scheduled Maturities > 500 2 NO
c) 3 Month Average Matured Leased Vehicle Proceeds
< 75% of Avg. Residual Values 88.85% NO
Residual Value Indicator (condition met if tests a, b and c = YES) CONDITION NOT MET
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1998-C
Distribution Date of June 26, 2000 for the Collection Period of
May 1, 2000 through May 31, 2000
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE BALANCE
---------------------------- CLASS A1
TOTAL PERCENT BALANCE BALANCE
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
INTEREST: 98.00%
Interest Collections 4,972,322.45
Net Investment Income 331,160.86
Non-recoverable Advances (56,081.44)
-------------
Available Interest 5,247,401.87 5,144,200.54 1,322,794.42
Class A1, A2, A3 Notional Interest Accrual Amount (3,075,508.25) (3,075,508.25) (829,237.50)
Unreimbursed A1, A2, A3 Interest Shortfall - - -
Interest Accrual for Adjusted Class B Certificate Bal. (282,419.42) (282,419.42)
Class B Interest Carryover Shortfall - -
Servicer's Fee (568,008.76) (556,085.16)
Capped Expenses (20,395.10) (19,966.97)
Interest Accrual on Class B. Cert. Prin. Loss Amt. - -
Uncapped Expenses - -
------------- -------------
Total Unallocated Interest 1,301,070.34 1,210,220.74
Excess Interest to Transferor - (1,210,220.74)
------------- -------------
Net Interest Collections Available 1,301,070.34 -
-------------
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (263,851.02)
ACCELERATED PRINCIPAL DISTRIBUTION: (138,971.35)
DEPOSIT TO RESERVE FUND: 1,182,390.32
WITHDRAWAL FROM RESERVE FUND: -
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN: 284,142.35
NET WITHDRAWAL FROM THE RESERVE FUND: -
PRINCIPAL:
Current Loss Amount (269,508.52) (263,851.02) (263,851.02)
Loss Reimbursement from Transferor 263,851.02 263,851.02 263,851.02
Loss Reimbursement from Reserve Fund - - -
------------- --------- ------------- -------------
Total (5,657.50) - -
CLASS A CERTIFICATE PRINCIPAL LOSS AMOUNTS:
Beginning Balance -
Current increase (decrease) -
-------------
Ending Balance -
CLASS A INTEREST SUBORDINATED:
Beginning Balance -
Current increase (decrease) -
-------------
Ending Balance -
CLASS B CERTIFICATE PRINCIPAL LOSS AMOUNTS:
Beginning Balance -
Current increase (decrease) -
-------------
Ending Balance -
CLASS B INTEREST SUBORDINATED:
Beginning Balance -
Current increase (decrease) -
-------------
Ending Balance -
PRINCIPAL DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period - - -
Allocations - Current Period 14,258,218.74 14,258,218.74 14,258,218.74
Allocations - Accelerated Principal Distribution 138,971.35 138,971.35 138,971.35
Allocations - Not Disbursed Beginning of Period 67,697,802.79 67,697,802.79 67,697,802.79
Allocations - Not Disbursed End of Period 82,094,992.88 82,094,992.88 82,094,992.88
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period 10,073,783.01 10,073,783.01 2,487,712.50
Allocations - Current Period 3,357,927.67 3,357,927.67 829,237.50
Allocations - Not Disbursed Beginning of Period 6,715,855.34 6,715,855.34 1,658,475.00
Allocations - Not Disbursed End of Period - - -
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/(Withdrawal from) Reserve Fund 1,182,390.32
Due To Trust 24,470,973.10 24,470,973.10 16,884,902.59
------------- ------------- -------------
Total Due To Trust 25,653,363.42 24,470,973.10 16,884,902.59
<CAPTION>
CLASS A2 CLASS A3 CLASS B TRANSFEROR INTEREST
-------- -------- ------- --------------------------
BALANCE BALANCE BALANCE INTEREST PRINCIPAL
------------- ----------- ----------- ------------ ---------
<S> <C> <C> <C> <C> <C>
INTEREST: 2.00%
Interest Collections
Net Investment Income
Non-recoverable Advances
Available Interest 2,971,038.27 509,520.82 340,847.03 103,201.33
Class A1, A2, A3 Notional Interest Accrual Amount (1,914,848.75) (331,422.00)
Unreimbursed A1, A2, A3 Interest Shortfall - -
Interest Accrual for Adjusted Class B Certificate Bal. (282,419.42)
Class B Interest Carryover Shortfall -
Servicer's Fee (11,923.60)
Capped Expenses (428.13)
Interest Accrual on Class B. Cert. Prin. Loss Amt. -
Uncapped Expenses -
------------
Total Unallocated Interest 90,849.60
Excess Interest to Transferor 1,210,220.74
------------
Net Interest Collections Available 1,301,070.34
------------
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (263,851.02)
ACCELERATED PRINCIPAL DISTRIBUTION: (138,971.35)
------------
DEPOSIT TO RESERVE FUND: 898,247.97
------------
WITHDRAWAL FROM RESERVE FUND:
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount - - - (5,657.50)
Loss Reimbursement from Transferor - - - (263,851.02)
Loss Reimbursement from Reserve Fund - - -
------------- ----------- ----------- -----------
Total - - - (5,657.50)
CLASS A CERTIFICATE PRINCIPAL LOSS AMOUNTS:
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS A INTEREST SUBORDINATED:
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS B CERTIFICATE PRINCIPAL LOSS AMOUNTS:
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS B INTEREST SUBORDINATED:
Beginning Balance
Current increase (decrease)
Ending Balance
PRINCIPAL DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period - - - -
Allocations - Current Period - - -
Allocations - Accelerated Principal Distribution - - -
Allocations - Not Disbursed Beginning of Period - - -
Allocations - Not Disbursed End of Period - - -
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period 5,744,546.25 994,266.00 847,258.26 -
Allocations - Current Period 1,914,848.75 331,422.00 282,419.42
Allocations - Not Disbursed Beginning of Period 3,829,697.50 662,844.00 564,838.84
Allocations - Not Disbursed End of Period - - -
Due To Trust - Current Period:
Total Deposit to/(Withdrawal from) Reserve Fund
Due To Trust 5,744,546.25 994,266.00 847,258.26 - -
------------- ----------- ----------- ------------ ------------
Total Due To Trust 5,744,546.25 994,266.00 847,258.26 - -
</TABLE>
Page 2
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1998-C
Distribution Date of June 26, 2000 for the Collection Period of
May 1, 2000 through May 31, 2000
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Certificate Balance Class A1
----------------------------- -------------------------------
Total Percent Balance Percent Balance
---------------- ----------- ---------------- ------------- ----------------
<S> <C> <C> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value
(ANIV) 749,988,732.51
Discounted Principal Balance 749,988,732.51
Initial Notional/Certificate
Balance - 100.00% 735,000,000.00 25.71% 189,000,000.00
Percent of ANIV 98.00% 25.20%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 5.2650%
Target Maturity Date December 25, 2000
Servicer Advance 1,324,812.20
Servicer Payahead 1,260,008.73
Number of Contracts 34,185
Weighted Average Lease Rate 6.81%
Weighted Average Remaining
Term 33.8
Servicing Fee Percentage 1.00%
POOL DATA PRIOR MONTH
Aggregate Net Investment Value 681,610,509.59
Discounted Principal Balance 681,184,521.95
Notional/Certificate Balance 735,000,000.00 189,000,000.00
Adjusted Notional/Certificate
Balance 667,302,197.21 121,302,197.21
Percent of ANIV 97.90% 17.80%
Certificate Factor 1.0000000 1.0000000
Servicer Advances 2,433,038.83
Servicer Pay Ahead Balance 1,847,197.78
Maturity Advances Outstanding -
Number of Current Contracts 36,315
Weighted Average Lease Rate 6.81%
Weighted Average Remaining
Term 16.3
POOL DATA CURRENT MONTH
Aggregate Net Investment Value 667,062,491.00
Discounted Principal Balance 666,540,983.83
Notional/Certificate Balance 735,000,000.00 189,000,000.00
Adjusted Notional/Certificate
Balance 652,905,007.12 106,905,007.12
Percent of ANIV 97.88% 16.03%
Certificate Factor 1.0000000 1.0000000
Servicer Advances 2,049,410.28
Servicer Pay Ahead Balance 1,998,757.02
Maturity Advances Outstanding -
Number of Current Contracts 35,923
Weighted Average Lease Rate 6.81%
Weighted Average Remaining
Term 15.3
Prior Certificate Interest
Payment Date March 27, 2000
Next Certificate Interest
Payment Date June 26, 2000
-------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A2 Class A3
------------------------------- -------------------------------
Percent Balance Percent Balance
-------------- --------------- ------------- ----------------
<S> <C> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value
(ANIV)
Discounted Principal Balance
Initial Notional/Certificate
Balance 57.76% 424,500,000.00 9.90% 72,800,000.00
Percent of ANIV 56.60% 9.71%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 5.4130% 5.4630%
Target Maturity Date December 25, 2001 March 25, 2002
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Remaining
Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 424,500,000.00 72,800,000.00
Adjusted Notional/Certificate
Balance 424,500,000.00 72,800,000.00
Percent of ANIV 62.28% 10.68%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining
Term
POOL DATA CURRENT MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 424,500,000.00 72,800,000.00
Adjusted Notional/Certificate
Balance 424,500,000.00 72,800,000.00
Percent of ANIV 63.64% 10.91%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining
Term
Prior Certificate Interest
Payment Date
Next Certificate Interest
Payment Date
-------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class B Transferor Interest
------------------------------ --------------------
Percent Balance Balance
------------- --------------- ------------
<S> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value
(ANIV)
Discounted Principal Balance
Initial Notional/Certificate
Balance 6.63% 48,700,000.00 14,988,732.51
Percent of ANIV 6.49% 2.00%
Certificate Factor 1.0000000
Notional/Certificate Rate 6.9590%
Target Maturity Date December 25, 2003
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Remaining
Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 48,700,000.00 14,308,312.38
Adjusted Notional/Certificate
Balance 48,700,000.00 14,308,312.38
Percent of ANIV 7.14% 2.10%
Certificate Factor 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining
Term
POOL DATA CURRENT MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 48,700,000.00 14,157,483.88
Adjusted Notional/Certificate
Balance 48,700,000.00 14,157,483.88
Percent of ANIV 7.30% 2.12%
Certificate Factor 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining
Term
Prior Certificate Interest
Payment Date
Next Certificate Interest
Payment Date
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------
<S> <C> <C>
CURRENT MONTH COLLECTION ACTIVITY Vehicles
--------
Principal Collections 7,369,814.28
Prepayments in Full 274 5,061,731.36
---
Reallocation Payment 2 24,950.38
---
Interest Collections 4,972,322.45
Net Liquidation Proceeds and Recoveries 1,634,956.00
Net Liquidation Proceeds - Vehicle Sales 187,058.05
Non-Recoverable Advances (56,081.44)
-------------
Total Available 19,194,751.08
-------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
<S> <C> <C>
CAPPED AND UNCAPPED EXPENSES: Amount Annual Amount
-------- --------------
Total Capped Expenses Paid 20,395.10 101,975.50
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 568,008.76
Servicer's Fee Paid 568,008.76
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 63,227.14
-------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
<S> <C> <C>
REVOLVING PERIOD: Vehicles Amount
-------- ------
Beginning Unreinvested Principal Collections -
Principal Collections & Liquidated Contracts -
Allocation to Subsequent Contracts 0 -
--- -------
Ending Unreinvested Principal Collections
-------------------------------------------------------------------------------------------------
</TABLE>
Page 3
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1998-C
Distribution Date of June 26, 2000 for the Collection Period of
May 1, 2000 through May 31, 2000
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
CLASS A1 CLASS A2 CLASS A3
-------- -------- --------
Balance Balance Balance
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
INTEREST RATE
Three Month LIBOR + 0.23% 0.27% 0.32%
PRINCIPAL PAYMENTS
Principal Payment due to Investors
Ending Certificate Balance 189,000,000.00 424,500,000.00 72,800,000.00
INTEREST PAYMENTS
Class Interest Rate for Current Interest Period 6.47750% 6.51750% 6.56750%
Interest Calculation for Current Interest Period 3,094,625.63 6,993,549.06 1,208,565.94
At Certificate Payment Date:
Paid to Swap Counterparty - 2,487,712.50 5,744,546.25 994,266.00
Due to Swap Counterparty - 2,487,712.50 5,744,546.25 994,266.00
Proration % 0.00%
Interest Due to Investors 3,094,625.63 6,993,549.06 1,208,565.94
Interest Payment to Investors 3,094,625.63 6,993,549.06 1,208,565.94
Net Settlement due to / (receive by) Swap Counterparty 606,913.13 1,249,002.81 214,299.94
TOTAL PAYMENT TO INVESTORS (PRINCIPAL AND INTEREST) 3,094,625.63 6,993,549.06 1,208,565.94
SWAP SHORTFALL
Prior Swap Interest Shortfall Carryover - - -
Swap Interest Shortfall Inc/(Dec) This Period - - -
Swap Swap Interest Shortfall Carryover - - -
INTEREST RESET
Interest Rate TBD TBD TBD
Number of Days TBD TBD TBD
INTEREST FOR SUCCEEDING CERTIFICATE PAYMENT DATE
----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------------------------------------------------------------------------
CLASS B TOTAL CLASS
------- -----------
Balance Balance
---------------------------------------------------------------------------------------------------------
<S> <C> <C>
INTEREST RATE
Three Month LIBOR + 2.00%
PRINCIPAL PAYMENTS
Principal Payment due to Investors
Ending Certificate Balance 48,700,000.00 735,000,000.00
INTEREST PAYMENTS
Class Interest Rate for Current Interest Period 8.24750%
Interest Calculation for Current Interest Period 1,015,290.16 12,312,030.79
At Certificate Payment Date:
Paid to Swap Counterparty 847,258.26 10,073,783.01
Due to Swap Counterparty 847,258.26 10,073,783.01
Proration %
Interest Due to Investors 1,015,290.16 12,312,030.79
Interest Payment to Investors 1,015,290.16 12,312,030.79
Net Settlement due to / (receive by) Swap Counterparty 168,031.90 2,238,247.78
TOTAL PAYMENT TO INVESTORS (PRINCIPAL AND INTEREST) 1,015,290.16 12,312,030.79
SWAP SHORTFALL
Prior Swap Interest Shortfall Carryover - -
Swap Interest Shortfall Inc/(Dec) This Period - -
Swap Swap Interest Shortfall Carryover - -
INTEREST RESET
Interest Rate TBD
Number of Days TBD
INTEREST FOR SUCCEEDING CERTIFICATE PAYMENT DATE
---------------------------------------------------------------------------------------------------------
</TABLE>
I hereby certify to the best of my knowledge that the report provided is true
and correct.
/s/ HOLLY PEARSON
---------------------------------------------------------------------
Holly Pearson, Treasury Operations Manager
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