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Previous: HONDA AUTO LEASE TRUST 1999A, 10-K405, 2000-07-14 |
Next: FAIRFAX GROUP INC, NT 10-Q, 2000-07-14 |
<PAGE>
AMERICAN HONDA FINANCE CORPORATION
Servicer's Certificate - Honda Auto Lease Trust 1999-A
For the Fiscal Year Ended March 31, 2000
<TABLE>
<S> <C>
POOL DATA - ORIGINAL DEAL PARAMETERS
Aggregate Net Investment Value (ANIV) 3,300,158,606.28
Servicer Advance --
Servicer Payahead 7,383,934.30
Number of Contracts 172,598
Weighted Average Lease Rate (Discounted) 9.05%
Weighted Average Lease Rate 6.29%
Weighted Average Remaining Term 30.48
Servicing Fee Percentage (annual) 1.00%
POOL DATA - CURRENT FISCAL YEAR
Aggregate Net Investment Value 2,851,612,142.63
Number of Current Contracts 162,290
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Lease Rate 6.28%
Weighted Average Remaining Term 21.55
</TABLE>
<TABLE>
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
RESERVE FUND:
Initial Deposit Amount 115,274,540.12
Specified Reserve Fund Percentage (if Tests i, ii and iii are satisfied) 5.50%
Specified Reserve Fund Amount (if Tests i, ii and iii are satisfied) 181,145,705.90
Specified Reserve Fund Percentage (if Tests i, ii or iii are not satisfied) 6.50%
Specified Reserve Fund Amount (if Tests i, ii or iii are not satisfied) 214,081,288.79
Beginning Balance 115,274,540.12
Net Investment Income Retained 5,542,800.43
Excess Reserve Amount Released --
Deposit Amount 50,759,353.97
Withdrawal Amount --
Ending Balance 171,576,694.52
Specified Reserve Fund Balance 181,145,705.90
Net Investment Income 5,542,800.43
Cumulative Withdrawal Amount --
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</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
CREDIT LOSSES: VEHICLE COUNT AMOUNT
------------- ------
<S> <C> <C>
Contracts Charged-off During the Fiscal Year 1474
Discounted Principal Balance 26,607,877.70
Net Liquidation Proceeds for the Fiscal Year (22,361,252.90)
Recoveries - Previously Charged-off Contracts 955,398.18
Aggregate Credit Losses for the Fiscal Year 3,291,226.62
Repossessions for the Fiscal Year 802
Cumulative Credit Losses for all Periods 3,291,226.62
RATIO OF NET CREDIT LOSSES TO THE AVERAGE ANIV BALANCE
FOR EACH COLLECTION PERIOD:
Second Preceding Collection Period 0.32%
First Preceding Collection Period 0.08%
Current Collection Period 0.16%
-----------------------------------------------------------------------------------------------------------------------------------
TEST (i) (CHARGE-OFF RATE TEST)
Three Month Average 0.19%
Charge-off Rate Test (Test satisfied if < = 1.5%) Test Satisfied
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
DISCOUNTED
DELINQUENT CONTRACTS: PERCENT ACCOUNTS PERCENT PRINCIPAL BALANCE
------- -------- ------- -----------------
<S> <C> <C> <C> <C>
31-60 Days Delinquent 0.66% 1,074 0.66% 18,793,260.16
61-90 Days Delinquent 0.10% 168 0.10% 2,949,881.95
Over 90 Days Delinquent 0.07% 121 0.08% 2,227,565.70
Total Delinquencies 1,363 23,970,707.81
<CAPTION>
RATIO OF NUMBER OF CONTRACTS DELINQUENT MORE
THAN 60 DAYS TO THE OUTSTANDING NUMBER OF
RECEIVABLES AS OF EACH COLLECTION PERIOD
(INCLUDES REPOSSESSIONS):
<S> <C>
Second Preceding Collection Period 0.29%
First Preceding Collection Period 0.22%
Current Collection Period 0.18%
-----------------------------------------------------------------------------------------------------------------------------------
TEST (ii) (DELINQUENCY RATE TEST)
Three Month Average 0.23%
Delinquency Rate Test (Test satisfied if < = 1.5%) Test Satisfied
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: VEHICLES
--------
<S> <C> <C>
Matured Lease Vehicle Inventory Sold During the Fiscal Year 69 1,168,800.96
Net Liquidation Proceeds (1,125,421.25)
Net Residual Value (Gain) Loss 43,379.71
Cumulative Residual Value (Gain) Loss all periods 43,379.71
AVERAGE AVERAGE
NUMBER SCHEDULED SALE NET LIQUIDATION RESIDUAL
SOLD MATURITIES RATIO PROCEEDS VALUE
------ ---------- ------ --------------- --------
<S> <C> <C> <C> <C>
MATURED VEHICLES SOLD FOR
EACH COLLECTION PERIOD:
Second Preceding Collection Period 5 14 35.71% 16,064.00 17,765.20
First Preceding Collection Period 17 16 100.00% 15,295.90 16,223.87
Current Collection Period 38 43 88.37% 17,238.83 17,601.28
Three Month Average 16,199.58 17,196.78
Ratio of Three Month Average Net Liquidation Proceeds to -----------
Average Residual Value 94.20%
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT COLLECTION PERIOD
TEST (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
------------------------------- ------------------------- ---------
<S> <C> <C>
a) Number of Vehicles Sold > 45% of Scheduled Maturities
and >= 500 Scheduled Maturities 88.37% Yes
b) 3 Month Average Matured Leased Vehicle Proceeds < 75% of
Average Residual Values 94.20% Yes
Residual Value Test (Test satisfied if tests a and b = Yes) Test Satisfied
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
SERVICER'S FEE DUE: AMOUNT
------
<S> <C>
Prior Cumulative Servicer's Fee Shortfall --
Servicer's Fee Due This Fiscal Year 23,270,661.54
Servicer's Fee Paid 23,270,661.54
Current Cumulative Servicer's Fee Shortfall --
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
ADVANCES AND PAYAHEADS: AMOUNT
------
<S> <C>
ADVANCES
Prior Outstanding Servicer Advances --
Net Advance/(Recovery) This Fiscal Year 1,815,093.02
Nonrecoverable Prior Advances (877,884.26)
Current Outstanding Servicer Advances 937,208.76
PAYAHEAD ACCOUNT
Prior Outstanding Payahd Balance 7,383,934.30
Net Allocation/(Collections) of Advanced Payments This Fiscal Year (983,459.23)
Current Outstanding Payahead Balance 8,367,393.53
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SECURITIES CLASS A1 CLASS A2
TOTAL BALANCE (99.8%) BALANCE BALANCE
------------- --------------- ------------- ------------
<S> <C> <C> <C> <C>
COLLECTIONS FOR THE FISCAL YEAR:
INTEREST
Scheduled Interest Collections 200,123,458.85 199,723,211.94 -- --
Interest Related To Prepayments in Full 2,538,548.95 2,533,471.86 -- --
Interest Related To Full Term and Over Term Payoffs 19,559.59 19,520.47 -- --
Interest Related to Reallocation Payments 709,511.02 708,091.98 -- --
Excess Liquidation Proceeds 2,598.44 2,593.24 -- --
Recoveries 955,398.18 953,487.38 -- --
Available Interest 204,349,075.03 203,940,376.87 -- --
PRINCIPAL
Scheduled Principal Collections 261,756,445.75 261,232,932.86 -- --
Prepayments In Full 80,529,051.32 80,367,993.21 -- --
Full Term and Over Term Payoffs 2,973,369.53 2,967,422.79 -- --
Reallocation Payment 75,510,918.22 75,359,896.39 -- --
Net Liquidation Proceeds 23,484,075.71 23,437,107.56 -- --
Available Principal 444,253,860.53 443,365,352.81 -- --
WITHDRAWAL FROM RESERVE FUND --
TOTAL OF SOURCES FOR DISTRIBUTION 648,602,935.56
DISTRIBUTIONS FOR THE FISCAL YEAR:
INTEREST
Transferor Interest 362,156.84 -- -- --
Capped Trustee Fees -- -- -- --
Class A Interest 123,597,436.01 123,597,436.01 6,970,295.49 15,247,229.42
Class A Interest Carryover Shortfalls -- -- -- --
Class B Interest 3,121,066.67 3,121,066.67 -- --
Class B Interest Carryover Shortfalls -- -- -- --
Class C Interest 3,238,400.00 3,238,400.00 -- --
Class C Interest Carryover Shortfalls -- -- -- --
Capped Contingent and Excess Liability Premiums -- -- -- --
Capped Origination Trust Administrative Expenses -- -- -- --
Other Capped Trustee Fees -- -- -- --
Servicer's Fee 23,270,661.54 23,224,120.22 -- --
Unpaid Servicer's Fees Related to Prior Collection Periods -- -- -- --
Reserve Fund Deposit 50,759,353.97 50,759,353.97 -- --
Certificate Interest -- -- -- --
Certificate Interest Carryover Shortfall -- -- -- --
Class A Covered Loss Amount -- -- -- --
Class A Note Principal Loss Amount/Class A Note Principal
Carryover Shortfall -- -- -- --
Class B Covered and Uncovered Loss Amount -- -- -- --
Class C Covered and Uncovered Loss Amount -- -- -- --
Class B Note Principal Loss Carryover Shortfall -- -- -- --
Class C Note Principal Loss Carryover Shortfall -- -- -- --
Class B Note Interest on Principal Loss Carryover Shortfall -- -- -- --
Class C Note Interest on Principal Loss Carryover Shortfall -- -- -- --
Certificate Principal Loss Amount/Certificate Principal Carryover
Shortfall -- -- -- --
Uncapped Administrative Expenses (paid to the Trustees) -- -- -- --
Excess Interest to Transferor -- -- -- --
TOTAL DISTRIBUTIONS OF INTEREST 204,349,075.03 203,940,376.87 6,970,295.49 15,247,229.42
PRINCIPAL
Transferor Principal 888,507.72 -- -- --
Principal Distribution to A-1, A-2, A-3 and A-4 Notes 443,365,352.81 443,365,352.81 380,000,000.00 63,365,352.81
Principal Distribution to A-5, B and C Notes -- -- -- --
Principal Distribution to Certificates -- -- -- --
TOTAL DISTRIBUTIONS OF PRINCIPAL 444,253,860.53 443,365,352.81 380,000,000.00 63,365,352.81
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance -- -- --
Current Period Increase (Decrease) 10,695,108.92 -- --
Ending Balance 10,695,108.92 -- --
NOTE/CERTIFICATE PRINCIPAL LOSS AMOUNT
Beginning Balance -- -- -- --
Current Period Increase (Decrease) 4,353,148.10 4,344,441.80 -- --
Ending Balance 4,353,148.10 4,344,441.80 -- --
<CAPTION>
CLASS A3 CLASS A4 CLASS A5 CLASS B
BALANCE BALANCE BALANCE BALANCE
------------ ------------ ------------ -----------
<S> <C> <C> <C> <C>
COLLECTIONS FOR THE FISCAL YEAR:
INTEREST
Scheduled Interest Collections -- -- -- --
Interest Related To Prepayments in Full -- -- -- --
Interest Related To Full Term and Over Term Payoffs -- -- -- --
Interest Related to Reallocation Payments -- -- -- --
Excess Liquidation Proceeds -- -- -- --
Recoveries -- -- -- --
Available Interest -- -- -- --
PRINCIPAL
Scheduled Principal Collections -- -- -- --
Prepayments In Full -- -- -- --
Full Term and Over Term Payoffs -- -- -- --
Reallocation Payment -- -- -- --
Net Liquidation Proceeds -- -- -- --
Available Principal -- -- -- --
WITHDRAWAL FROM RESERVE FUND
TOTAL OF SOURCES FOR DISTRIBUTION
DISTRIBUTIONS FOR THE FISCAL YEAR:
INTEREST
Transferor Interest -- -- -- --
Capped Trustee Fees -- -- -- --
Class A Interest 17,351,111.09 45,866,666.67 38,162,133.33 --
Class A Interest Carryover Shortfalls -- -- -- --
Class B Interest -- -- -- 3,121,066.67
Class B Interest Carryover Shortfalls -- -- -- --
Class C Interest -- -- -- --
Class C Interest Carryover Shortfalls -- -- -- --
Capped Contingent and Excess Liability Premiums -- -- -- --
Capped Origination Trust Administrative Expenses -- -- -- --
Other Capped Trustee Fees -- -- -- --
Servicer's Fee -- -- -- --
Unpaid Servicer's Fees Related to Prior Collection Periods -- -- -- --
Reserve Fund Deposit -- -- -- --
Certificate Interest -- -- -- --
Certificate Interest Carryover Shortfall -- -- -- --
Class A Covered Loss Amount -- -- -- --
Class A Note Principal Loss Amount/Class A Note Principal
Carryover Shortfall -- -- -- --
Class B Covered and Uncovered Loss Amount -- -- -- --
Class C Covered and Uncovered Loss Amount -- -- -- --
Class B Note Principal Loss Carryover Shortfall -- -- -- --
Class C Note Principal Loss Carryover Shortfall -- -- -- --
Class B Note Interest on Principal Loss Carryover Shortfall -- -- -- --
Class C Note Interest on Principal Loss Carryover Shortfall -- -- -- --
Certificate Principal Loss Amount/Certificate Principal Carryover
Shortfall -- -- -- --
Uncapped Administrative Expenses (paid to the Trustees) -- -- -- --
Excess Interest to Transferor -- -- -- --
TOTAL DISTRIBUTIONS OF INTEREST 17,351,111.09 45,866,666.67 38,162,133.33 3,121,066.67
PRINCIPAL
Transferor Principal -- -- -- --
Principal Distribution to A-1, A-2, A-3 and A-4 Notes -- -- -- --
Principal Distribution to A-5, B and C Notes -- -- -- --
Principal Distribution to Certificates -- -- -- --
TOTAL DISTRIBUTIONS OF PRINCIPAL -- -- -- --
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance -- -- -- --
Current Period Increase (Decrease) -- -- -- --
Ending Balance -- -- -- --
NOTE/CERTIFICATE PRINCIPAL LOSS AMOUNT
Beginning Balance -- -- -- --
Current Period Increase (Decrease) -- -- -- --
Ending Balance -- -- -- --
<CAPTION>
TRANSFEROR
CLASS C CERTIFICATE INTEREST
BALANCE BALANCE BALANCE
----------- ------------ -----------
<S> <C> <C> <C>
COLLECTIONS FOR THE FISCAL YEAR:
INTEREST
Scheduled Interest Collections -- -- 400,246.91
Interest Related To Prepayments in Full -- -- 5,077.09
Interest Related To Full Term and Over Term Payoffs -- -- 39.12
Interest Related to Reallocation Payments -- -- 1,419.04
Excess Liquidation Proceeds -- -- 5.20
Recoveries -- -- 1,910.80
Available Interest -- -- 408,698.16
PRINCIPAL
Scheduled Principal Collections -- -- 523,512.89
Prepayments In Full -- -- 161,058.11
Full Term and Over Term Payoffs -- -- 5,946.74
Reallocation Payment -- -- 151,021.83
Net Liquidation Proceeds -- -- 46,968.15
Available Principal -- -- 888,507.72
WITHDRAWAL FROM RESERVE FUND
TOTAL OF SOURCES FOR DISTRIBUTION
DISTRIBUTIONS FOR THE FISCAL YEAR:
INTEREST
Transferor Interest -- -- 362,156.84
Capped Trustee Fees -- -- --
Class A Interest -- -- --
Class A Interest Carryover Shortfalls -- -- --
Class B Interest -- -- --
Class B Interest Carryover Shortfalls -- -- --
Class C Interest 3,238,400.00 -- --
Class C Interest Carryover Shortfalls -- -- --
Capped Contingent and Excess Liability Premiums -- -- --
Capped Origination Trust Administrative Expenses -- -- --
Other Capped Trustee Fees -- -- --
Servicer's Fee -- -- 46,541.32
Unpaid Servicer's Fees Related to Prior Collection Periods -- -- --
Reserve Fund Deposit -- -- --
Certificate Interest -- -- --
Certificate Interest Carryover Shortfall -- -- --
Class A Covered Loss Amount -- -- --
Class A Note Principal Loss Amount/Class A Note Principal
Carryover Shortfall -- -- --
Class B Covered and Uncovered Loss Amount -- -- --
Class C Covered and Uncovered Loss Amount -- -- --
Class B Note Principal Loss Carryover Shortfall -- -- --
Class C Note Principal Loss Carryover Shortfall -- -- --
Class B Note Interest on Principal Loss Carryover Shortfall -- -- --
Class C Note Interest on Principal Loss Carryover Shortfall -- -- --
Certificate Principal Loss Amount/Certificate Principal Carryover
Shortfall -- -- --
Uncapped Administrative Expenses (paid to the Trustees) -- -- --
Excess Interest to Transferor -- -- --
TOTAL DISTRIBUTIONS OF INTEREST 3,238,400.00 -- 408,698.16
PRINCIPAL
Transferor Principal -- -- 888,507.72
Principal Distribution to A-1, A-2, A-3 and A-4 Notes -- -- --
Principal Distribution to A-5, B and C Notes -- -- --
Principal Distribution to Certificates -- -- --
TOTAL DISTRIBUTIONS OF PRINCIPAL -- -- 888,507.72
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance -- --
Current Period Increase (Decrease) -- 10,695,108.92
Ending Balance -- 10,695,108.92
NOTE/CERTIFICATE PRINCIPAL LOSS AMOUNT
Beginning Balance -- -- --
Current Period Increase (Decrease) -- 4,344,441.80 8,706.30
Ending Balance -- 4,344,441.80 8,706.30
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
SECURITIES CLASS A1
TOTAL BALANCE (99.8%) BALANCE
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS:
Interest Distributions 204,349,075.03 203,940,376.87 6,970,295.49
Principal Distributions 444,253,860.53 443,365,352.81 380,000,000.00
Total Distributions 648,602,935.56 647,305,729.68 386,970,295.49
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV) 3,300,158,606.28
Initial Note/Certificate Balance 3,293,558,289.00 380,000,000.00
Percent of ANIV 99.80% 11.51%
Class Allocation Percentage 12.89%
Note/Certificate Factor 1.00
Note/Certificate Rate 5.445%
Servicer Advance --
Servicer Payahead 7,383,934.30
Number of Contracts 172,598
Weighted Average Lease Rate 6.29%
Weighted Average Lease Rate (Discounted) 9.05%
Weighted Average Remaining Term 30.48
Servicing Fee Percentage 1.00%
POOL DATA PRIOR FISCAL YEAR
Aggregate Net Investment Value (ANIV) 3,300,158,606.28
Note/Certificate Balance 3,293,558,289.00 380,000,000.00
Percent of ANIV 99.80% 11.51%
Class Allocation Percentage 12.89%
Note/Certificate Factor 1.00
Servicer Advance --
Servicer Payahead 7,383,934.30
Number of Contracts 172,598
Weighted Average Lease Rate 6.29%
Weighted Average Lease Rate (Discounted) 9.05%
Weighted Average Remaining Term 30.48
Servicing Fee Percentage 1.00%
Number of Days in the Accrual Period 0
POOL DATA CURRENT FISCAL YEAR
Aggregate Net Investment Value (ANIV) 2,851,612,142.63
Note/Certificate Balance 2,845,908,918.44
Percent of ANIV 99.80% 0.00%
Class Allocation Percentage 0.00%
Note/Certificate Factor 0.00
Servicer Advance 937,208.76
Servicer Payahead 8,367,393.53
Number of Contracts 162,290
Weighted Average Lease Rate 6.28%
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Remaining Term 21.55
Servicing Fee Percentage 1.00%
Number of Days in the Accrual Period 261
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
CLASS A2 CLASS A3 CLASS A4 CLASS A5
BALANCE BALANCE BALANCE BALANCE
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS:
Interest Distributions 15,247,229.42 17,351,111.09 45,866,666.67 38,162,133.33
Principal Distributions 63,365,352.81 -- -- --
Total Distributions 78,612,582.23 17,351,111.09 45,866,666.67 38,162,133.33
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Initial Note/Certificate Balance 360,000,000.00 400,000,000.00 1,000,000,000.00 807,000,000.00
Percent of ANIV 10.91% 12.12% 30.30% 24.45%
Class Allocation Percentage 12.22% 13.57% 33.93% 27.38%
Note/Certificate Factor 1.00 1.00 1.00 1.00
Note/Certificate Rate 5.875% 6.100% 6.450% 6.650%
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR FISCAL YEAR
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 360,000,000.00 400,000,000.00 1,000,000,000.00 807,000,000.00
Percent of ANIV 10.91% 12.12% 30.30% 24.45%
Class Allocation Percentage 12.22% 13.57% 33.93% 27.38%
Note/Certificate Factor 1.00 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 0 0 0 0
POOL DATA CURRENT FISCAL YEAR
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 296,634,647.19 400,000,000.00 1,000,000,000.00 807,000,000.00
Percent of ANIV 10.40% 14.03% 35.07% 28.30%
Class Allocation Percentage 11.85% 15.98% 39.94% 32.23%
Note/Certificate Factor 0.82 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 261 256 256 256
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
CLASS B CLASS C CERTIFICATE TRANSFEROR INTEREST
BALANCE BALANCE BALANCE BALANCE
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS:
Interest Distributions 3,121,066.67 3,238,400.00 -- 408,698.16
Principal Distributions -- -- -- 888,507.72
Total Distributions 3,121,066.67 3,238,400.00 -- 1,297,205.88
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Initial Note/Certificate Balance 66,000,000.00 66,000,000.00 214,558,289.00 6,600,317.28
Percent of ANIV 2.00% 2.00% 6.50% 0.20%
Class Allocation Percentage 100.00% 100.00% 100.00%
Note/Certificate Factor 1.00 1.00 1.00
Note/Certificate Rate 6.650% 6.900% 6.900%
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR FISCAL YEAR
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 66,000,000.00 66,000,000.00 214,558,289.00 6,600,317.28
Percent of ANIV 2.00% 2.00% 6.50% 0.20%
Class Allocation Percentage 100.00% 100.00% 100.00%
Note/Certificate Factor 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 0 0 0
POOL DATA CURRENT FISCAL YEAR
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 66,000,000.00 66,000,000.00 210,274,271.25 5,703,224.19
Percent of ANIV 2.31% 2.31% 7.37% 0.20%
Class Allocation Percentage 100.00% 100.00% 100.00%
Note/Certificate Factor 1.00 1.00 0.98
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 256 256 256
I hereby certify to the best of my knowledge that
the report provided is true and correct.
--------------------------------------
John Weisickle, Vice President Finance
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
NOTE: "Collection Period" represents calendar months except for the first
collection period which represents July 1, 1999 through August 31, 1999.
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