<PAGE>
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 16, 1996
SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.
(as depositor under the Pooling and Servicing Agreement, dated as
of February 1, 1996, providing for the issuance of Mortgage
Pass-Through Certificates, Series 1996-C1
Salomon Brothers Mortgage Securities VII, Inc.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Delaware 33-84924 13-3439681
---------------------------- ------------ ---------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
</TABLE>
<TABLE>
<S> <C>
Seven World Trade Center
New York, New York 10048
(Address of Principal Zip Code)
Executive Offices)
</TABLE>
Registrant's telephone number, including area code: (212) 783-5635
<PAGE>
<PAGE>
-2
Item 5. Other Events.
On February 28, 1996, the Registrant expects to cause the
issuance and sale of Mortgage Pass-Through Certificates, Series 1996-C1
(the "Certificates") pursuant to a Pooling and Servicing Agreement, to
be dated as of February 1, 1996, among the Registrant, Midland Loan
Services, L.P. as Master Servicer and Special Servicer and LaSalle
National Bank as Trustee.
In connection with the expected sale of the Certificates,
Salomon Brothers Inc (the "Underwriter") has advised the Registrant
that it has furnished to prospective investors certain collateral
information with respect to the mortgage loans underlying the proposed
offering of the Certificates (the "Collateral Term Sheets"), which
Collateral Term Sheets are being filed manually as exhibits to this
report.
The Collateral Term Sheets have been provided by the
Underwriter. The information in the Collateral Term Sheets is
preliminary and will be superseded by the Prospectus Supplement
relating to the Certificates and by any other information subsequently
filed with the Securities and Exchange Commission.
The Collateral Term Sheets were prepared by the Underwriter at
the request of certain prospective investors. The Collateral Term
Sheets may be based on information that differs from the information
set forth in the Prospectus Supplement.
In addition, the actual characteristics and performance of the
mortgage loans underlying the Certificates may differ from the
information provided in the Collateral Term Sheets, which were provided
to certain investors only to give a sense of the underlying collateral
which will effect the maturity, interest rate sensitivity and cash flow
characteristics of the Certificates. Any difference between the
collateral information in the Collateral Term Sheets and the actual
characteristics of the mortgage loans will affect the actual yield,
average life, duration, expected maturity, interest rate sensitivity
and cash flow characteristics of the Certificates.
<PAGE>
<PAGE>
-3
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
<TABLE>
<CAPTION>
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
- ----------- -------------- ---------------------
<S> <C> <C>
1 99 Collateral Term Sheets
</TABLE>
<PAGE>
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SALOMON BROTHERS MORTGAGE
SECURITIES VII, INC.
By: /s/ Ian McCollough
Ian McCollough
Assistant Vice President
Dated: February 16, 1996
<PAGE>
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
Item 601 (a) of
Exhibit Regulation S-K
Number Exhibit No. Description
------- --------------- ---------------------
<S> <C> <C>
1 99 Collateral Term Sheets
</TABLE>
<PAGE>
<PAGE>
Disclaimer
Prospective investors are advised to read carefully, and should rely solely
on, the final prospectus supplement and prospectus ('Final Prospectus') relating
to the Certificates referred to below in making their investment decision.
The information contained in this diskette is certain of the information
set forth on Annex A to the preliminary Prospectus Supplement dated February 14,
1996 to the Prospectus dated February 14, 1996 (collectively, the 'Preliminary
Prospectus'), relating to the Salomon Brothers Mortgage Securties VII, Inc.
Mortgage Pass-Through Certificates, Series 1996-C1 (the 'Certificates') and
should be reviewed only in conjunction with a careful review of the Preliminary
Prospectus. Such information does not include any information relating to the
structure of the Certificates and does not include all relevant information
relating to the underlying mortgage loans. Such information is set forth in the
Preliminary Prospectus, and particular attention should be paid to the risks and
special considerations associated with an investment in the Certificates
described in the Preliminary Prospectus. The information contained in this
diskette should not be viewed as projections, forecasts, predictions or opinions
with respect to value.
All mortgage loan information contained in this diskette is preliminary and
it is anticipated that such information will change. Any information contained
in this diskette will be more fully described in, and such information and the
information in the Preliminary Prospectus will be fully superseded by, the
information contained in the Final Prospectus.
Prior to making any investment decision, a prospective investor shall
receive and should carefully review the Final Prospectus. NOTHING IN THIS
DISKETTE SHOULD BE CONSIDERED AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO
BUY THE CERTIFICATES. SALES OF THE CERTIFICATES MAY NOT BE CONSUMMATED UNLESS
A PROSPECTIVE INVESTOR HAS RECEIVED THE FINAL PROSPECTUS.
NOTE: THIS IS A READ ONLY FILE
<PAGE>
<PAGE>
ANNEX A
<TABLE>
<CAPTION>
Original
Loan ID Property Name Address City State Balance(1)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
48 Redmond East 6742 185th. Ave. NE. Redmond WA $28,300,000
11 Emerald Bay 4701 E. Sahara Avenue Las Vegas NV $11,850,000
26 Raritan Mall Rt. 202 South at Orlando Dr. Raritan NJ $11,700,000
42 Kings Bridge 1450 Raintree Way Roswell GA $8,070,500
43 Brookgreen/Lantana 510-530 Fairwood Ave Clearwater FL $7,423,700
22 Vista Hills 1800 Lee Trevino Dr. El Paso TX $7,000,000
53 Lansbury Village Apts. 3386 Lansbury Village Drive Atlanta GA $6,950,000
23 Plymouth Park 750 Plymouth Park Blvd. Irving TX $6,972,000
24 Peach Festival GA Hwy. 49 & I-75 Byron GA $6,700,000
33 Omaha 11515 Miracle Hills Drive Omaha NE $6,040,000
52 Crossroads at Middlebury 850,860,900 & 930 Straits Tkpe. Middlebury CT $5,550,000
25 Goethals Park 2525 Brunswick Ave. Linden NJ $5,500,000
37 Galleria 2-40 Bridge Ave. Red Bank NJ $5,300,000
38 Las Palmas 803 Castroville Rd. San Antonio TX $5,300,000
5 Heritage Village 105 Sunnyside Road Temple Terrace FL $5,300,000
34 Overland Park 10610 Marty Overland Park KS $5,210,000
49 Luria Plaza 11200 - 11350 Pines Blvd. Pembrooke Pines FL $5,100,000
29 Northmoor Apartments 690 Lindbergh Dr. Atlanta GA $4,960,000
30 Colonial Oaks 1029 Franklin Road Marietta GA $4,875,000
35 Knoxville 208 Market Place Lane Knoxville TN $4,880,000
36 Atlanta 5945 Oakbrook Parkway Atlanta GA $4,870,000
51 Grove Park 1405-1635 US Hwy. 98 South Lakeland FL $4,700,000
27 Manzanita Plaza 3000 West Valencia Tucson AZ $4,612,500
54 Strathmore S/C 125 Rt. 34 Aberdeen NJ $4,600,000
12 West Harbor 6300 Mosley Dickson Macon GA $4,460,000
28 Benchmark Crossing Hwy. 290 & Hollister Houston TX $3,800,000
21 42 West 48th Street 42 West 48th St. New York NY $3,800,000
50 Edmond Plaza 1700 S. Broadway Edmond OK $3,650,000
31 Continental 50 Glenwood Road Greenville SC $3,410,000
47 Wichita 515 South Webb Road Wichita KS $3,400,000
32 Cross Creek 2415 Dawson Road Albany GA $2,600,000
20 Dobbin Square 6480 Dobbin Way Columbia MD $2,575,000
1 Ranch Park 5502 49th Street Lubbock TX $1,875,000
9 Northlake I 3535 Lawrenceville Hwy Tucker GA $1,860,000
6 Pelican Point 6009 Bellaire Houston TX $1,825,000
13 Ashley Woods 3900 N. Side Drive Macon GA $1,500,000
8 Beaumonde 18044 Old Covington Hwy Hammond LA $1,350,000
4 English Oaks 1320 Gessner Houston TX $1,275,000
10 Northlake II 3665 Lawrenceville Hwy Tucker GA $1,140,000
7 West 109th Street 225-235-245-247 W. 109 New York NY $920,000
14 West 14th Street 322 W. 14th Street New York NY $900,000
2 Timber Ridge 2602 82nd Street Lubbock TX $600,000
3 Windy Ridge 5430 50thStreet Lubbock TX $487,500
$213,191,203
43 LOANS/TOTAL/WTD. AVG.
<CAPTION>
Remaining
Term to
Maturity
% of Initial as of the Original Remaining
Cut-off Date Pool Mortgage Annual Debt Maturity Cut-off Amortization Amortization
Loan ID Property Name Balance Balance Rate Service(2) Date Date(mo.) Term(mo.) Term(mo.)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
48 Redmond East $28,276,818.05 13.34% 8.375% $2,648,308 1/1/06 119 324 323
11 Emerald Bay $11,745,453.79 5.54% 9.550% $1,200,886 9/1/01 67 360 343
26 Raritan Mall $11,623,738.39 5.48% 8.875% $1,166,237 7/1/98 29 300 293
42 Kings Bridge $8,016,048.25 3.78% 9.850% $839,178 12/1/01 70 360 346
43 Brookgreen/Lantana $7,372,416.02 3.48% 9.350% $739,765 12/1/01 70 360 346
22 Vista Hills $6,956,250.78 3.28% 10.750% $787,864 12/1/01 70 348 334
53 Lansbury Village Apts. $6,945,453.74 3.28% 8.125% $619,243 1/1/06 119 360 359
23 Plymouth Park $6,937,843.51 3.27% 11.000% $796,752 1/1/00 47 360 347
24 Peach Festival $6,654,398.71 3.14% 10.625% $755,298 2/1/02 72 324 312
33 Omaha $6,002,015.08 2.83% 8.700% $638,203 10/1/05 116 240 236
52 Crossroads at Middlebury $5,539,426.23 2.61% 8.625% $541,903 12/1/02 82 300 298
25 Goethals Park $5,425,636.93 2.56% 10.875% $675,639 3/1/00 49 240 229
37 Galleria $5,285,711.13 2.49% 9.000% $533,729 11/1/05 117 300 297
38 Las Palmas $5,280,477.95 2.49% 8.875% $528,295 10/1/02 80 300 296
5 Heritage Village $5,255,595.97 2.48% 10.100% $562,841 9/1/01 67 360 342
34 Overland Park $5,177,234.86 2.44% 8.700% $550,503 10/1/05 116 240 236
49 Luria Plaza $5,094,407.59 2.40% 9.000% $492,429 12/1/05 118 360 358
29 Northmoor Apartments $4,937,059.29 2.33% 8.870% $494,202 9/1/02 79 300 295
30 Colonial Oaks $4,860,915.58 2.29% 8.800% $462,310 9/1/05 115 360 355
35 Knoxville $4,849,310.18 2.29% 8.700% $515,634 10/1/05 116 240 236
36 Atlanta $4,839,373.06 2.28% 8.700% $514,578 10/1/05 116 240 236
51 Grove Park $4,695,446.00 2.21% 8.500% $454,148 1/1/03 83 300 299
27 Manzanita Plaza $4,597,096.89 2.17% 9.000% $445,359 8/1/02 78 360 354
54 Strathmore S/C $4,595,723.06 2.17% 8.750% $453,823 1/1/06 119 300 299
12 West Harbor $4,426,948.93 2.09% 9.750% $459,819 11/1/04 105 360 345
28 Benchmark Crossing $3,780,115.19 1.78% 9.250% $390,510 8/1/05 114 300 294
21 42 West 48th Street $3,721,095.78 1.75% 10.625% $459,096 10/1/99 44 240 224
50 Edmond Plaza $3,646,389.99 1.72% 8.375% $349,007 1/1/06 119 300 299
31 Continental $3,400,148.15 1.60% 8.800% $323,380 9/1/05 115 360 355
47 Wichita $3,376,535.10 1.59% 7.950% $339,999 10/1/05 116 240 236
32 Cross Creek $2,580,575.06 1.22% 9.620% $275,200 5/1/02 75 300 291
20 Dobbin Square $2,536,027.82 1.20% 10.125% $283,516 8/1/99 42 300 281
1 Ranch Park $1,858,629.98 0.88% 9.900% $195,793 8/1/01 66 360 342
9 Northlake I $1,845,537.65 0.87% 9.850% $193,404 10/1/01 68 360 344
6 Pelican Point $1,798,450.94 0.85% 10.010% $199,160 8/1/01 66 300 282
13 Ashley Woods $1,492,412.83 0.70% 10.450% $163,981 2/1/05 108 360 348
8 Beaumonde $1,342,374.81 0.63% 10.700% $150,615 12/1/01 70 360 346
4 English Oaks $1,260,809.55 0.59% 10.450% $143,914 11/1/01 69 300 285
10 Northlake II $1,131,135.91 0.53% 9.850% $118,538 10/1/01 68 360 344
7 West 109th Street $910,907.81 0.43% 11.160% $109,484 11/1/01 69 300 285
14 West 14th Street $895,682.07 0.42% 10.700% $100,410 2/1/05 108 360 348
2 Timber Ridge $594,761.51 0.28% 9.900% $62,654 8/1/01 66 360 342
3 Windy Ridge $483,243.82 0.23% 9.900% $50,906 8/1/01 66 360 342
$212,045,633.94 100.00% 9.256% $21,786,515 88 318 310
43 LOANS/TOTAL/WTD. AVG.
</TABLE>
- --------------------------------------------
(1) As of origination date.
(2) 12 times the amount of the Monthly Payment in effect as of the Cut-off Date.
A-1
<PAGE>
<PAGE>
ANNEX A
<TABLE>
<CAPTION>
Loan ID Property Name Prepayment Penalty Restrictions Prepayment Penalty Description
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
48 Redmond East Lockout then Greater of 1%/Yield Maint. 4 yr lockout then Greater of 1%/Yield Maint.
11 Emerald Bay Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
26 Raritan Mall Lockout then Declining Pct. Locked 2 years, 4-3-2-1% each quarter of last year.
42 Kings Bridge Greater of 1%/Yield Maint. then Declining Pct. 4 yr Greater of 1%/Yield Maint., 3% yr 5, 2% yr 6,
1% 1st 6 mos yr 7
43 Brookgreen/Lantana Greater of 1%/Yield Maint. then Declining Pct. 4 yr Greater of 1%/Yield Maint., 3% yr 5, 2% yr 6,
1% 1st 6 mos yr 7
22 Vista Hills Lockout then Yield Maint. 4 yr lockout then Yield Maint.
53 Lansbury Village Apts. Lockout then Greater of 1%/Yield Maint. 4 yr lockout then Greater of 1%/Yield Maint..
23 Plymouth Park Lockout then Yield Maint. 3 yr lockout then Yield Maint.
24 Peach Festival Lockout then Yield Maint. 4 yr lockout then Yield Maint.
33 Omaha Yield Maint. Yield Maint.
52 Crossroads at Middlebury Lockout then Greater of 1%/Yield Maint. 4 yr lockout then Greater of 1%/Yield Maint.
25 Goethals Park Lockout then Yield Maint. 3 yr lockout then Yield Maint.
37 Galleria Lockout then Yield Maint. 5 yr lockout then Yield Maint.
38 Las Palmas Lockout then Yield Maint. 4 yr lockout then Yield Maint.
5 Heritage Village Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
34 Overland Park Yield Maint. Yield Maint.
49 Luria Plaza Greater of 1%/Yield Maint. then Declining Pct. 6 yr Greater of 1%/Yield Maint., 5% yr 7, 4% yr 8,
3% yr 9, 2% thereafter.
29 Northmoor Apartments Lockout then Yield Maint. 2 yr lockout then Yield Maint.
30 Colonial Oaks Lockout then Yield Maint. 4 yr lockout then Yield Maint.
35 Knoxville Yield Maint. Yield Maint.
36 Atlanta Yield Maint. Yield Maint.
51 Grove Park Lockout then Greater of 1%/Yield Maint. 4 yr lockout then Greater of 1%/Yield Maint.
27 Manzanita Plaza Lockout then Yield Maint. 4 yr lockout then Yield Maint.
54 Strathmore S/C Lockout then Greater of 1%/Yield Maint. 4 yr lockout then Greater of 1%/Yield Maint.
12 West Harbor Yield Maint. then Declining Pct. 7 yr Yield Maint., 3% yr 8, 2% yr 9, 1% 1st 6 mos
yr 10
28 Benchmark Crossing Lockout then Yield Maint. 5 yr lockout then Yield Maint.
21 42 West 48th Street Lockout then Yield Maint. 3 yr lockout then Yield Maint.
50 Edmond Plaza Lockout then Greater of 1%/Yield Maint. 6 yr lockout then Greater of 1%/Yield Maint.
31 Continental Lockout then Yield Maint. 4 yr lockout then Yield Maint.
47 Wichita Yield Maint. Yield Maint.
32 Cross Creek Greater of 1%/Yield Maint. then Declining Pct. 5 yr Greater of 1%/Yield Maint., 2% yr 6, 1% 1st
6 mos yr 7
20 Dobbin Square Lockout then Yield Maint. 3 yr lockout then Yield Maint.
1 Ranch Park Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
9 Northlake I Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
6 Pelican Point Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
13 Ashley Woods Greater of 1%/Yield Maint. then Declining Pct. 7 yr Greater of 1%/Yield Maint., 3% yr 8, 2% yr 9,
1% 1st 6 mos yr 10
8 Beaumonde Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
4 English Oaks Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
10 Northlake II Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
7 West 109th Street Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
14 West 14th Street Greater of 1%/Yield Maint. then Declining Pct. 7 yr Greater of 1%/Yield Maint., 3% Yr8, 2% Yr9,
1% 1st 6 mos Yr 10
2 Timber Ridge Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
3 Windy Ridge Yield Maint. then Declining Pct. 5 yr Yield Maint., 2% yr 6, 1% 1st 6 mos yr 7
43 LOANS/TOTAL/WTD. AVG.
<CAPTION>
Occupancy Occupancy Appraisal Appraisal
Loan ID Property Name Property Type Units/SF(3) Rate As-of Date Value Date
- --------------------------------------------------------------------------------- ----------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
48 Redmond East Office/ Ind. 395,034 96.0% Dec-95 $43,500,000 1/13/95
11 Emerald Bay Multifamily 337 91.5% Sep-95 $16,055,000 8/1/94
26 Raritan Mall Retail 117,000 86.6% Aug-95 $17,475,000 3/1/95
42 Kings Bridge Multifamily 312 93.9% Sep-95 $11,700,000 7/18/94
43 Brookgreen/Lantana Multifamily 372 80.6% Sep-95 $10,050,000 7/14/94
22 Vista Hills Retail 211,116 98.5% Aug-95 $10,100,000 11/2/94
53 Lansbury Village Apts. Multifamily 164 93.6% Oct-95 $9,375,000 7/12/95
23 Plymouth Park Retail 682,980 87.0% Aug-95 $10,700,000 11/21/94
24 Peach Festival Retail 108,399 94.0% Aug-95 $9,600,000 12/26/94
33 Omaha Hotel 137 78.4% Jul-95 $8,600,000 6/1/95
52 Crossroads at Middlebury Retail/Office 71,905 100.0% Dec-95 $7,650,000 8/19/95
25 Goethals Park Industrial 523,374 97.0% Aug-95 $10,500,000 1/12/95
37 Galleria Retail/Office 104,584 90.1% Sep-95 $8,800,000 7/20/95
38 Las Palmas Retail 225,952 92.0% Sep-95 $7,200,000 6/15/95
5 Heritage Village Multifamily 252 97.5% Jun-95 $7,500,000 6/10/93
34 Overland Park Hotel 143 75.6% Jul-95 $8,000,000 6/1/95
49 Luria Plaza Retail 81,355 98.0% Dec-95 $7,800,000 9/1/95
29 Northmoor Apartments Multifamily 176 93.1% Aug-95 $6,900,000 5/10/95
30 Colonial Oaks Multifamily 200 91.0% Jul-95 $6,700,000 5/10/95
35 Knoxville Hotel 137 73.0% Jul-95 $7,300,000 6/1/95
36 Atlanta Hotel 147 75.8% Jul-95 $8,400,000 6/1/95
51 Grove Park Retail 149,294 89.0% Dec-95 $7,100,000 10/17/95
27 Manzanita Plaza Retail 109,327 99.6% Sep-95 $6,150,000 6/14/95
54 Strathmore S/C Retail 63,148 100.0% Jan-96 $6,550,000 5/12/95
12 West Harbor Multifamily 191 95.9% Jun-95 $6,850,000 6/23/94
28 Benchmark Crossing Retail 58,384 100.0% Aug-95 $5,700,000 6/15/95
21 42 West 48th Street Office 56,872 97.2% Jul-95 $7,300,000 9/8/94
50 Edmond Plaza Retail 102,658 92.0% Dec-95 $5,050,000 9/1/95
31 Continental Multifamily 159 91.7% Aug-95 $4,550,000 5/12/95
47 Wichita Hotel 120 79.7% Jul-95 $7,500,000 6/1/95
32 Cross Creek Multifamily 200 91.5% Jul-95 $4,320,000 2/22/95
20 Dobbin Square Retail 25,114 94.4% Aug-95 $4,500,000 6/1/94
1 Ranch Park Multifamily 142 93.9% Jul-95 $2,500,000 6/17/94
9 Northlake I Multifamily 96 96.0% Jun-95 $2,700,000 8/10/94
6 Pelican Point Multifamily 156 93.8% May-95 $2,830,000 5/17/94
13 Ashley Woods Multifamily 96 96.0% Jun-95 $2,450,000 12/29/94
8 Beaumonde Multifamily 64 90.4% Dec-95 $1,850,000 9/1/94
4 English Oaks Multifamily 181 90.2% Jun-95 $1,725,000 9/15/94
10 Northlake II Multifamily 78 96.0% Jun-95 $2,100,000 8/10/94
7 West 109th Street Multifamily 81 94.8% Dec-95 $1,525,000 9/6/94
14 West 14th Street Multifamily 19 100.0% Aug-95 $1,300,000 11/1/94
2 Timber Ridge Multifamily 52 94.7% Jul-95 $800,000 6/21/94
3 Windy Ridge Multifamily 42 87.6% Jul-95 $650,000 6/21/94
$319,905,000
43 LOANS/TOTAL/WTD. AVG.
</TABLE>
- ---------------------
(3) Dwelling units/guest rooms ("Units") for Multifamily Loans and Hotel Loans
and rentable square footage ("SF") for ROI Loans.
A-2
<PAGE>
<PAGE>
ANNEX A
<TABLE>
<CAPTION>
Loan to Origination Assumed Net Adjusted 1994
Loan ID Property Name Date Value(4) Cash Flows(4) (NOI)(4) DSCR(4) Year Built FIRREA(5)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
48 Redmond East 65.00% $3,343,646 $3,853,166 1.26x 1988 No
11 Emerald Bay 73.16% $1,476,448 $1,526,998 1.23x 1989 Yes
26 Raritan Mall 66.52% $1,428,559 $1,488,322 1.22x 1987 No
42 Kings Bridge 68.51% $1,051,766 $1,124,774 1.25x 1973 Yes
43 Brookgreen/Lantana 73.36% $826,840 $904,328 1.12x 1974 Yes
22 Vista Hills 68.87% $964,784 $1,126,322 1.22x 1979 No
53 Lansbury Village Apts. 74.08% $796,131 $833,031 1.29x 1973 No
23 Plymouth Park 64.84% $1,005,251 $1,270,093 1.26x 1952 No
24 Peach Festival 69.32% $944,517 $986,856 1.25x 1988 No
33 Omaha 69.79% $1,097,678 $1,205,635 1.72x 1991 No
52 Crossroads at Middlebury 72.41% $750,404 $822,050 1.38x 1988 Yes
25 Goethals Park 51.67% $904,015 $1,132,141 1.34x 1910 Yes
37 Galleria 60.06% $731,934 $803,126 1.37x 1905 No
38 Las Palmas 73.34% $780,953 $899,558 1.48x 1955 Yes
5 Heritage Village 70.07% $815,244 $863,124 1.45x 1967 No
34 Overland Park 64.72% $950,754 $1,055,820 1.73x 1988 No
49 Luria Plaza 65.31% $646,012 $693,355 1.31x 1986 Yes
29 Northmoor Apartments 71.55% $651,940 $687,140 1.32x 1948 No
30 Colonial Oaks 72.55% $619,737 $659,737 1.34x 1973 Yes
35 Knoxville 66.43% $886,348 $981,953 1.72x 1989 No
36 Atlanta 57.61% $895,170 $996,585 1.74x 1987 No
51 Grove Park 66.13% $596,503 $674,169 1.31x 1960 Yes
27 Manzanita Plaza 74.75% $579,033 $644,224 1.30x 1982 No
54 Strathmore S/C 70.16% $584,889 $652,541 1.29x 1960 No
12 West Harbor 64.63% $617,479 $659,499 1.34x 1986 Yes
28 Benchmark Crossing 66.32% $521,196 $552,190 1.33x 1986 Yes
21 42 West 48th Street 50.97% $698,178 $767,227 1.52x 1929 No
50 Edmond Plaza 72.21% $446,357 $528,108 1.28x 1966 Yes
31 Continental 74.73% $434,456 $466,256 1.34x 1967 Yes
47 Wichita 45.02% $960,464 $1,052,818 2.82x 1985 No
32 Cross Creek 59.74% $433,738 $479,738 1.58x 1970 Yes
20 Dobbin Square 56.36% $405,929 $432,553 1.43x 1979 No
1 Ranch Park 74.35% $305,488 $337,154 1.56x 1976 No
9 Northlake I 68.35% $280,396 $296,332 1.45x 1970 Yes
6 Pelican Point 63.55% $231,771 $265,311 1.16x 1974 No
13 Ashley Woods 60.91% $222,160 $243,760 1.35x 1984 Yes
8 Beaumonde 72.56% $202,855 $206,083 1.35x 1986 Yes
4 English Oaks 73.09% $200,559 $242,319 1.39x 1969 Yes
10 Northlake II 53.86% $184,953 $198,135 1.56x 1970 Yes
7 West 109th Street 59.73% $195,499 $217,774 1.79x 1910 Yes
14 West 14th Street 68.90% $113,438 $117,808 1.13x 1969 No
2 Timber Ridge 74.35% $71,473 $85,581 1.14x 1979 No
3 Windy Ridge 74.35% $77,486 $88,532 1.52x 1973 Yes
43 LOANS/TOTAL/WTD. AVG. 66.96% $29,932,432 $33,122,225 1.37x
</TABLE>
- ----------------------
(4) Calculated as described under "DESCRIPTION OF THE MORTGAGE POOL-Additional
Mortgage Loan Information" herein.
(5) Conformity of appraisal conducted in connection with origination of the
Mortgage Loan to the requirements of Title XI of the Financial Institutions
Reform, Recovery and Enforcement Act of 1989 ("FIRREA") and regulations
promulgated thereunder.
A-3
