PROSPECTUS SUPPLEMENT
- ---------------------
(TO PROSPECTUS DATED FEBRUARY 25, 1998)
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
----------
The Mortgage Pass-Through Certificates, Series 1998-C1-CTL (the "Certificates")
will consist of fourteen classes (each, a "Class") of regular Certificates,
including the nine Classes of Certificates offered hereby (collectively, the
"Offered Certificates"). The Certificates, in the aggregate, will represent the
entire undivided beneficial ownership interest in a trust fund (the "Trust
Fund") to be established by Merrill Lynch Mortgage Investors, Inc. (the
"Depositor"), that is expected to consist primarily of a segregated pool (the
"Mortgage Pool") of 105 fixed rate mortgage loans (the "Mortgage Loans") secured
by first liens on 142 commercial properties (each, a "Mortgaged Property"). As
described herein, all of the Mortgage Loans were underwritten taking into
consideration the credit rating or Private Estimated Rating (as defined herein)
of the related Tenants or Guarantors (each as defined herein). See "RISK
FACTORS--The Mortgage Loans" and "DESCRIPTION OF THE MORTGAGE POOL--Credit
Leases" herein. The Depositor will acquire the Mortgage Loans from Daiwa Finance
Corp., an affiliate of Daiwa Securities America Inc., one of the Underwriters,
who acquired all but one of such Mortgage Loans from Legg Mason Mortgage Capital
Corporation, an affiliate of Legg Mason Wood Walker, Incorporated, one of the
Underwriters. As of the Cut-Off Date (as defined herein), the Mortgage Loans had
an aggregate principal balance (the "Initial Pool Balance") of approximately
$646,080,530, after application of all payments of principal due on or before
such date, whether or not received. The Offered Certificates bear the Class
designations and have the characteristics set forth below. Simultaneously with
the issuance of the Offered Certificates, the Private Certificates (as defined
herein) will be issued. Only the Offered Certificates are offered hereby.
(Continued on next page)
----------
PROSPECTIVE INVESTORS SHOULD CONSIDER THE INFORMATION SET FORTH UNDER
"RISK FACTORS" BEGINNING ON PAGE S-29 OF THIS PROSPECTUS SUPPLEMENT AND
ON PAGE 16 OF THE PROSPECTUS.
----------
PROCEEDS OF THE ASSETS IN THE TRUST FUND WILL BE THE SOLE SOURCE OF PAYMENTS ON
THE OFFERED CERTIFICATES. THE OFFERED CERTIFICATES WILL NOT REPRESENT AN
INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE UNDERWRITERS, THE MASTER
SERVICER, THE SPECIAL SERVICER,THE TRUSTEE, THE MORTGAGE LOAN SELLER
OR ANY OF THEIR AFFILIATES. NEITHER THE OFFERED CERTIFICATES NOR
THE MORTGAGE LOANS WILL BE INSURED OR GUARANTEED BY ANY
GOVERNMENTAL AGENCY OR INSTRUMENTALITY.
----------
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION
PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS SUPPLEMENT
OR THE ACCOMPANYING PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
----------
THE ATTORNEY GENERAL OF THE STATE OF NEW YORK HAS NOT PASSED ON OR ENDORSED THE
MERITS OF THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.
<TABLE>
<CAPTION>
======================================================================================================
PERCENTAGE RATED FINAL
INITIAL CERTIFICATE OF INITIAL PASS-THROUGH DISTRIBUTION EXPECTED
CLASS BALANCE (1) POOL BALANCE RATE DATE (2) RATING (3)
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Class A-1 ............ $132,820,333 20.6% 6.31% November 15, 2026 Aaa/AAA
Class A-2 ............ $ 82,098,000 12.7% 6.48% November 15, 2026 Aaa/AAA
Class A-3 ............ $235,868,000 36.5% 6.72% November 15, 2026 Aaa/AAA
Class A-PO ........... $ 1,469,667 0.2% (4) November 15, 2026 Aaa/NR
Class B .............. $ 38,765,000 6.0% 6.75% November 15, 2026 Aa2/AA
Class C .............. $ 32,304,000 5.0% 6.75% November 15, 2026 A2/A
Class D .............. $ 38,765,000 6.0% 6.75% November 15, 2026 Baa2/BBB
Class E .............. $ 9,691,000 1.5% 6.75% November 15, 2026 Baa3/BBB-
Class IO ............. (5) N/A (5) November 15, 2026 Aaa/AAAr
======================================================================================================
</TABLE>
(1) Subject to a permitted variance of plus or minus 5%.
(2) The Rated Final Distribution Date is the first Distribution Date (as
defined herein) that follows the second anniversary of the end of the
amortization term for the Mortgage Loan that, as of the Cut-Off Date, has
the longest remaining amortization term. See "RATINGS" herein.
(3) By each of Moody's Investors Service, Inc. and, except with respect to the
Class A-PO Certificates, Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc.
(4) The Class A-PO Certificates will not entitle the holders thereof to receive
distributions of interest, but will entitle such holders to receive
distributions of principal with respect to the Discount Mortgage Loans (as
defined herein), and as otherwise described herein. See "DESCRIPTION OF THE
CERTIFICATES--Distributions" herein.
(5) The Class IO Certificates will not have a principal balance nor will they
entitle the holders thereof to receive distributions of principal, but will
entitle such holders to receive payments of interest equal to the aggregate
of the interest accrued on the notional amount, as described herein, of
each of its Components (as defined herein). See "DESCRIPTION OF THE
CERTIFICATES--Certificate Balances and Notional Amounts" and
"--Pass-Through Rates" herein.
----------
The Offered Certificates will be offered by Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Legg Mason Wood Walker, Incorporated and Daiwa Securities
America Inc. (together, the "Underwriters") from time to time in negotiated
transactions or otherwise at varying prices to be determined at the time of
sale. Proceeds to the Depositor from the sale Offered Certificates, before
deducting expenses payable by the Depositor, will be approximately $610,080,212,
which includes accrued interest. See "METHOD OF DISTRIBUTION" herein.
The Offered Certificates are offered by the Underwriters when, as and if
issued and delivered to and accepted by the Underwriters, subject to prior sale
and subject to the Underwriters' right to reject orders in whole or in part. It
is expected that the Offered Certificates will be delivered in book-entry form
through the Same-Day Funds Settlement System of The Depository Trust Company on
or about March 31, 1998.
----------
MERRILL LYNCH & CO. LEGG MASON WOOD WALKER DAIWA SECURITIES AMERICA INC.
INCORPORATED
----------
The date of this Prospectus Supplement is March 25, 1998.
<PAGE>
(cover continued)
On or before the date the Certificates are issued, the Depositor will
transfer the Mortgage Loans, without recourse, to Norwest Bank Minnesota,
National Association, as trustee of the Trust Fund (the "Trustee"), in exchange
for the Certificates.
As and to the extent described herein, the Private Certificates will be
subordinate to the Offered Certificates; the Class B, Class C, Class D and Class
E Certificates will be subordinate to the Class A-1, Class A-2, Class A-3, Class
A-PO and Class IO Certificates; the Class C, Class D and Class E Certificates
will be subordinate to the Class B Certificates; the Class D and Class E
Certificates will be subordinate to the Class C Certificates; and the Class E
Certificates will be subordinate to the Class D Certificates. Distributions of
interest on and principal of the Certificates will be made, to the extent of
available funds, on the 15th day of each month or, if any such 15th day is not a
business day, then on the next succeeding business day, commencing April 16,
1998 (each, a "Distribution Date"); provided, however, that the Distribution
Date will be no earlier than the fourth business day following the related
Determination Date (as defined herein). The holders of the Certificates may also
receive portions of any Prepayment Premiums (as defined herein) to the extent
described herein. See "DESCRIPTION OF THE CERTIFICATES--Distributions" herein.
The yield to maturity on each Class of Offered Certificates will depend on,
among other things, the rate and timing of principal payments (including by
reason of prepayments, defaults and liquidations) on the Mortgage Loans that are
applied in reduction of the Certificate Balance of such Class. THE YIELD TO
MATURITY ON THE CLASS IO CERTIFICATES AND THE CLASS A-PO CERTIFICATES WILL BE
HIGHLY SENSITIVE TO THE RATE AND TIMING OF PRINCIPAL PAYMENTS (INCLUDING BY
REASON OF PREPAYMENTS, DEFAULTS AND LIQUIDATIONS) ON THE MORTGAGE LOANS AND
INVESTORS IN THE CLASS IO CERTIFICATES AND THE CLASS A-PO CERTIFICATES SHOULD
FULLY CONSIDER THE ASSOCIATED RISKS, INCLUDING, WITH RESPECT TO THE CLASS IO
CERTIFICATES, THE RISK THAT A RAPID RATE OF PREPAYMENT ON THE MORTGAGE LOANS
COULD RESULT IN THE FAILURE OF SUCH INVESTORS TO FULLY RECOUP THEIR INITIAL
INVESTMENTS, AND WITH RESPECT TO THE CLASS A-PO CERTIFICATES, THE RISK THAT A
SLOWER THAN EXPECTED RATE OF PRINCIPAL PAYMENTS AND PREPAYMENTS ON THE MORTGAGE
LOANS, PARTICULARLY THE DISCOUNT MORTGAGE LOANS, COULD RESULT IN A LOWER THAN
EXPECTED YIELD ON THE CLASS A-PO CERTIFICATES. The allocation to the Class A-1,
Class A-2, Class A-3, Class B, Class C, Class D, Class E or Class IO
Certificates of any Prepayment Premium may be insufficient to offset fully the
adverse effects on the reduction to the anticipated yield to maturity resulting
from the corresponding principal prepayment. Any delay in collection of a
Balloon Payment (as defined herein) due at the maturity of a Mortgage Loan will
likely extend the weighted average life of the Class or Classes of Offered
Certificates entitled to distributions in respect of principal as of the date
such Balloon Payment was due. See "DESCRIPTION OF THE CERTIFICATES--Certificate
Balances and Notional Amounts" and "--Distributions," "YIELD AND MATURITY
CONSIDERATIONS" and "SERVICING OF THE MORTGAGE LOANS--Modifications, Waivers and
Amendments" herein, and "YIELD AND MATURITY CONSIDERATIONS" and "RISK
FACTORS--Prepayments; Average Life of Certificates; Yields" in the Prospectus.
As described herein, one or more separate "real estate mortgage investment
conduit" ("REMIC") elections will be made with respect to the Trust Fund for
federal income tax purposes. The Offered Certificates will constitute "regular
interests" in one of such REMICs. See "MATERIAL FEDERAL INCOME TAX CONSEQUENCES"
herein and in the Prospectus.
There is currently no secondary market for the Offered Certificates and
there can be no assurance that any such market will develop or, if it does
develop, that it will continue. The Underwriters intend to make a secondary
market in the Offered Certificates, but have no obligation to do so. See "RISK
FACTORS--The Certificates--Limited Liquidity" herein.
----------
THE PROSPECTUS THAT ACCOMPANIES THIS PROSPECTUS SUPPLEMENT CONTAINS
IMPORTANT INFORMATION REGARDING THIS OFFERING THAT IS NOT CONTAINED HEREIN, AND
PROSPECTIVE INVESTORS ARE URGED TO READ BOTH THE PROSPECTUS AND THIS PROSPECTUS
SUPPLEMENT IN FULL TO OBTAIN MATERIAL INFORMATION CONCERNING THE OFFERED
CERTIFICATES. SALES OF THE OFFERED CERTIFICATES MAY NOT BE CONSUMMATED UNLESS
THE PURCHASER HAS RECEIVED A PAPER COPY OF BOTH THE PROSPECTUS AND THIS
PROSPECTUS SUPPLEMENT REGARDLESS OF WHETHER THE PURCHASER HAS RECEIVED SUCH
DOCUMENTS ELECTRONICALLY.
UNTIL 90 DAYS AFTER THE DATE OF THIS PROSPECTUS SUPPLEMENT, ALL DEALERS
EFFECTING TRANSACTIONS IN THE OFFERED CERTIFICATES, WHETHER OR NOT PARTICIPATING
IN THIS DISTRIBUTION, MAY BE REQUIRED TO DELIVER A PROSPECTUS SUPPLEMENT AND
PROSPECTUS. THIS DELIVERY REQUIREMENT IS IN ADDITION TO THE OBLIGATION OF
DEALERS TO DELIVER A PROSPECTUS SUPPLEMENT AND PROSPECTUS WHEN ACTING AS
UNDERWRITERS AND WITH RESPECT TO THEIR UNSOLD ALLOTMENTS OR SUBSCRIPTIONS.
CERTAIN PERSONS PARTICIPATING IN THIS OFFERING MAY ENGAGE IN TRANSACTIONS
THAT STABILIZE, MAINTAIN OR OTHERWISE AFFECT THE MARKET PRICE OF THE OFFERED
CERTIFICATES. SEE "METHOD OF DISTRIBUTION."
S-2
<PAGE>
TABLE OF CONTENTS
Page
----
SUMMARY OF PROSPECTUS SUPPLEMENT ........................................ S-5
RISK FACTORS ............................................................ S-29
The Certificates ...................................................... S-29
Limited Liquidity ................................................... S-29
Certain Yield and Maturity Considerations ........................... S-29
Potential Conflicts of Interest ..................................... S-30
Risks of Year 2000 ................................................. S-31
The Mortgage Loans .................................................... S-31
Risks of Lending on Credit Lease Loans .............................. S-31
Risks Associated With Appraised Values of the Mortgaged Properties .. S-31
Risks Affecting Lease Enhancement Policy Proceeds ................... S-32
Risks Affecting Residual Insurance Policy Proceeds .................. S-32
Risks Associated with Bankruptcy .................................... S-32
Risks of Lending on Income-Producing Properties Generally ........... S-33
Risk of Tenant or Guarantor Rating .................................. S-33
Risks Associated with Construction Loans ............................ S-33
Environmental Law Considerations .................................... S-34
Risk of Subordinated Debt and Other Financing ....................... S-34
Risk of Tenant Concentration ........................................ S-34
Risk of Geographic Concentration of Properties ...................... S-35
Risks of Different Timing of Mortgage Loan Amortization ............. S-35
Ground Leases and Other Leasehold Interests ......................... S-35
Nonrecourse Obligations ............................................. S-35
Mortgage Loan Seller ................................................ S-35
DESCRIPTION OF THE MORTGAGE POOL ........................................ S-36
General ............................................................... S-36
Credit Leases ......................................................... S-36
Balloon Loans ....................................................... S-37
Residual Insurance Policy ........................................... S-37
Tenant Lease Termination and Rent Abatement Rights .................. S-37
Bondable Leases ..................................................... S-38
Triple Net Leases ................................................... S-38
Double Net Leases ................................................... S-38
Tenants ............................................................. S-39
Largest Tenants/Guarantors ............................................ S-41
Rite Aid Loans ...................................................... S-41
Allegheny General Hospital .......................................... S-41
Circuit City Loans .................................................. S-42
Nine West Loan ...................................................... S-42
Fred Meyer Loans .................................................... S-42
Q Clubs Loan ........................................................ S-42
Northwestern Loans .................................................. S-43
Heilig-Meyers Loans ................................................. S-43
Construction Loans .................................................. S-44
Certain Terms and Conditions of the Mortgage Loans .................... S-45
Mortgage Rates; Calculations of Interest ............................ S-45
Due Dates ........................................................... S-45
Amortization ........................................................ S-45
Nonrecourse Obligations ............................................. S-45
Defeasance .......................................................... S-45
Prepayment Provisions ............................................... S-45
"Due-on-Sale" and "Due-on-Encumbrance" Provisions ................... S-46
Cross-Default and Cross-Collateralization of Certain Mortgage Loans . S-46
Underwriting Criteria ................................................. S-46
Assessments of Property Condition ..................................... S-47
Property Inspection ................................................. S-47
Appraisals .......................................................... S-47
S-3
<PAGE>
Page
----
Environmental Assessments ........................................ S-47
Engineering Assessments .......................................... S-47
Earthquake Analyses .............................................. S-47
Zoning Compliance ................................................ S-47
Additional Mortgage Loan Information ............................... S-48
The Mortgage Pool ................................................ S-48
The Mortgage Loan Seller ........................................... S-55
Assignment of the Mortgage Loans; Repurchases ...................... S-55
Representations and Warranties; Repurchases ........................ S-56
Changes in Mortgage Pool Characteristics ........................... S-57
SERVICING OF THE MORTGAGE LOANS ...................................... S-57
General ............................................................ S-57
The Master Servicer ................................................ S-58
The Special Servicer ............................................... S-58
Inspections ........................................................ S-59
Servicing and Other Compensation and Payment of Expenses ........... S-60
Modifications, Waivers and Amendments .............................. S-61
REO Properties ..................................................... S-62
DESCRIPTION OF THE CERTIFICATES ...................................... S-63
General ............................................................ S-63
Registration and Denominations ..................................... S-63
Certificate Balances and Notional Amounts .......................... S-64
Pass-Through Rates ................................................. S-65
Distributions ...................................................... S-65
General .......................................................... S-65
The Available Distribution Amount ................................ S-66
Application of Available Distribution Amount ..................... S-66
Distributable Certificate Interest ............................... S-69
Principal Distribution Amount .................................... S-69
Class A-PO Principal Distribution Amount ......................... S-70
Treatment of REO Properties ...................................... S-70
Allocation of Prepayment Premiums ................................ S-70
Subordination; Allocation of Losses and Certain Expenses ........... S-71
Advances ........................................................... S-73
Appraisal Reductions ............................................... S-74
Reports to Certificateholders; Available Information ............... S-75
Voting Rights ...................................................... S-76
Termination ........................................................ S-76
The Trustee ........................................................ S-77
YIELD AND MATURITY CONSIDERATIONS .................................... S-77
Yield Considerations ............................................... S-77
General ............................................................ S-77
Rate and Timing of Principal Payment ............................... S-77
Losses and Shortfalls .............................................. S-78
Strip Rates ........................................................ S-79
Certain Relevant Factors ........................................... S-79
Delay in Payment of Distributions .................................. S-79
Unpaid Distributable Certificate Interest .......................... S-79
Yield Sensitivity of the Class IO Certificates ..................... S-79
Yield Sensitivity of the Class A-PO Certificates ................... S-81
Weighted Average Life .............................................. S-81
USE OF PROCEEDS ...................................................... S-86
MATERIAL FEDERAL INCOME TAX CONSEQUENCES ............................. S-86
ERISA CONSIDERATIONS ................................................. S-87
LEGAL INVESTMENT ..................................................... S-89
METHOD OF DISTRIBUTION ............................................... S-90
LEGAL MATTERS ........................................................ S-91
RATINGS .............................................................. S-91
INDEX OF PRINCIPAL DEFINITIONS ....................................... S-93
S-4
<PAGE>
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF PROSPECTUS SUPPLEMENT
The following summary is qualified in its entirety by reference to the detailed information appearing elsewhere in this
Prospectus Supplement and in the accompanying Prospectus. Certain capitalized terms used in this Summary may be defined elsewhere
in this Prospectus Supplement or in the Prospectus. An "Index of Principal Definitions" is included at the end of both this
Prospectus Supplement and the Prospectus. Terms that are used but not defined in this Prospectus Supplement have the meanings
specified in the Prospectus. All numerical information provided herein with respect to the Mortgage Loans is approximate.
<CAPTION>
PERCENTAGE OF WEIGHTED CASH FLOW
INITIAL INITIAL PASS- AVERAGE OR
EXPECTED CERTIFICATE POOL CREDIT THROUGH LIFE PRINCIPAL
CLASS RATING (1) BALANCE (2) BALANCE SUPPORT DESCRIPTION RATE (YEARS)(3) WINDOW (3)
----- ---------- ----------- ------- ------- ----------- ------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Offered Certificates
- --------------------
Class A-1 ............... Aaa/AAA $132,820,333 20.6% 30.0% Fixed Coupon 6.31% 5.0 04/98-12/06
Class A-2 ............... Aaa/AAA $ 82,098,000 12.7% 30.0% Fixed Coupon 6.48% 10.0 12/06-06/09
Class A-3 ............... Aaa/AAA $235,868,000 36.5% 30.0% Fixed Coupon 6.72% 14.7 06/09-01/16
Class A-PO .............. Aaa/NR $ 1,469,667 0.2% 30.0% Principal Only (4) 14.1 04/98-02/20
Class B ................. Aa2/AA $ 38,765,000 6.0% 24.0% Fixed Coupon 6.75% 18.3 01/16-12/16
Class C ................. A2/A $ 32,304,000 5.0% 19.0% Fixed Coupon 6.75% 19.1 12/16-09/17
Class D ................. Baa2/BBB $ 38,765,000 6.0% 13.0% Fixed Coupon 6.75% 19.8 09/17-07/18
Class E ................. Baa3/BBB- $ 9,691,000 1.5% 11.5% Fixed Coupon 6.75% 20.4 07/18-10/18
Class IO ................ Aaa/AAAr (5) N/A N/A Variable I/O Strip (6) N/A 04/98-03/23
Private Certificates
- --------------------
Class F ................. (7) $ 58,147,000 9.0% 2.5% Fixed Coupon 6.25% 21.3 10/18-12/19
Class G ................. (7) $ 3,230,000 0.5% 2.0% Fixed Coupon 6.25% 21.8 12/19-03/20
Class H ................. (7) $ 4,846,000 0.8% 1.3% Fixed Coupon 6.25% 22.2 03/20-10/20
Class J ................. (7) $ 1,615,000 0.2% 1.0% Fixed Coupon 6.25% 22.7 10/20-02/21
Class K ................. (7) $ 6,461,530 1.0% N/A Fixed Coupon 6.25% 23.8 02/21-03/23
- ----------------
(1) By each of Moody's Investors Service, Inc. and, except with respect to the Class A-PO Certificates, Standard & Poor's Ratings
Services, a division of The McGraw-Hill Companies, Inc.
(2) Subject to a permitted variance of plus or minus 5%.
(3) Based on Scenario (1) set forth under "YIELD AND MATURITY CONSIDERATIONS--Weighted Average Life" herein.
(4) The Class A-PO Certificates will not entitle the holders thereof to receive distributions of interest, but will entitle such
holders to receive distributions of principal with respect to the Discount Mortgage Loans (as defined herein), and as
otherwise described herein. See "DESCRIPTION OF THE CERTIFICATES--Distributions" herein.
(5) The Class IO Certificates will not have a principal balance nor will they entitle the holders thereof to receive
distributions of principal. See "--Certificate Balances and Notional Amounts" in this Summary.
(6) Holders of the Class IO Certificates will be entitled to receive distributions of interest in an amount equal to the
aggregate of the interest accrued on the notional amount of each of its Components, as described herein. See "--Pass-Through
Rates" in this Summary.
(7) Not offered hereby. Accordingly, any information herein regarding the terms of such Class of Certificates is provided solely
because of its potential relevance to a prospective purchaser of an Offered Certificate.
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
S-5
<PAGE>
- --------------------------------------------------------------------------------
Title of Certificates ...... Merrill Lynch Mortgage Investors, Inc., Mortgage
Pass-Through Certificates, Series 1998-C1-CTL
(the "Certificates"), to be issued in the
following classes (each, a "Class") to be
designated as: (i) the Class A-1, Class A-2,
Class A-3, Class B, Class C, Class D, Class E,
Class F, Class G, Class H, Class J and Class K
Certificates (collectively, the "Sequential Pay
Certificates"); (ii) the Class A-PO Certificates
and the Class IO Certificates (together with the
Sequential Pay Certificates, the "REMIC Regular
Certificates"); and (iii) one or more classes of
residual certificates (collectively, the "REMIC
Residual Certificates"). Only the Class A-1,
Class A-2, Class A-3, Class A-PO, Class B, Class
C, Class D, Class E and Class IO Certificates
(collectively, the "Offered Certificates") are
offered hereby. The Class F, Class G, Class H,
Class J, Class K and REMIC Residual Certificates
(collectively, the "Private Certificates") have
not been registered under the Securities Act of
1933, as amended (the "Securities Act"), and are
not offered hereby.
Depositor .................. Merrill Lynch Mortgage Investors, Inc., a Delaware
corporation. The Depositor is a wholly owned,
limited-purpose finance subsidiary of Merrill
Lynch Mortgage Capital Inc., an affiliate of
Merrill Lynch, Pierce, Fenner & Smith
Incorporated ("Merrill Lynch"), one of the
Underwriters. Neither the Depositor nor any of
its affiliates has insured or guaranteed the
Offered Certificates. See "THE DEPOSITOR" in the
Prospectus.
Issuer ..................... The Trust Fund established under the Pooling and
Servicing Agreement (as defined herein), as
described herein under "DESCRIPTION OF THE
CERTIFICATES."
Mortgage Loan Seller ....... Daiwa Finance Corp. ("Daiwa Finance" or the
"Mortgage Loan Seller"), an affiliate of Daiwa
Securities America Inc. ("Daiwa Securities"),
one of the Underwriters. Daiwa Finance has
acquired all but one of the Mortgage Loans from
Legg Mason Mortgage Capital Corporation
("LMMCC"), an affiliate of Legg Mason Wood
Walker, Incorporated, one of the Underwriters.
See "DESCRIPTION OF THE MORTGAGE POOL--The
Mortgage Loan Seller" herein.
On or prior to the Closing Date, the Depositor
will cause the Mortgage Loan Seller to assign
the Mortgage Loans, without recourse (except as
set forth in the next sentence), to the Trustee
for the benefit of the holders of the
Certificates (the "Certificateholders"). In
connection with such assignment, the Mortgage
Loan Seller will make certain representations
and warranties regarding the characteristics of
the Mortgage Loans and, as described herein,
will agree to cure any material breach thereof
or, in the absence of such a cure, to
repurchase the affected Mortgage Loan. See
"DESCRIPTION OF THE MORTGAGE POOL--
Representations and Warranties; Repurchases"
herein.
Master Servicer ............ GMAC Commercial Mortgage Corporation ("GMACCM"),
a corporation organized under the laws of the
State of California, is a wholly owned direct
subsidiary of GMAC Mortgage Group, Inc., which
in turn is a wholly owned direct subsidiary of
General
- --------------------------------------------------------------------------------
S-6
<PAGE>
- --------------------------------------------------------------------------------
Motors Acceptance Corporation. See "SERVICING OF
THE MORTGAGE LOANS--The Master Servicer" and
"--Servicing and Other Compensation and Payment
of Expenses" herein.
Special Servicer ........... GMACCM, the initial Special Servicer, will be
responsible for performing certain servicing
functions with respect to the Mortgage Loans
that, in general, are in default or as to which
default is imminent, for administering any REO
Property (as defined herein) and for performing
certain other servicing functions with respect
to the Mortgage Pool under the Pooling and
Servicing Agreement. The Controlling Class of
Sequential Pay Certificates (as defined herein)
will have the right, subject to certain
conditions described herein, to replace the
Special Servicer and to select a representative
(the "Controlling Class Representative") from
whom the Special Servicer will seek advice and
approval and take direction under certain
circumstances, as described herein. One or more
affiliates of the Special Servicer may purchase
the Class G, Class H, Class J and Class K
Certificates on or about the Closing Date. See
"SERVICING OF THE MORTGAGE LOANS--The Master
Servicer," "--The Special Servicer" and
"--Servicing and Other Compensation and Payment
of Expenses" herein.
Trustee .................... Norwest Bank Minnesota, National Association, a
nationally chartered bank.
Cut-Off Date ............... March 1, 1998, or for each Mortgage Loan with a
Due Date (as defined herein) after the first day
of each month, the date of such Due Date in
March 1998.
Closing Date ............... On or about March 31, 1998.
Determination Date ......... The 10th day of each month or, if such day is not
a business day, the next succeeding business
day, commencing in April 1998.
Registration of the
Offered Certificates ..... The Offered Certificates of each Class will
initially be represented by one or more global
Certificates registered in the name of Cede &
Co., as nominee of The Depository Trust Company
("DTC"). No person acquiring an interest in any
Offered Certificate (any such person, a
"Certificate Owner") will be entitled to receive
such Certificate in fully registered,
certificated form (a "Definitive Offered
Certificate"), except under the limited
circumstances described under "DESCRIPTION OF
THE CERTIFICATES -- Registration and
Denominations" herein. Instead, DTC will effect
payments and transfers in respect of the Offered
Certificates by means of its electronic
recordkeeping services, acting through certain
participating organizations ("Participants").
This may result in certain delays in receipt of
payments by an investor and may restrict an
investor's ability to pledge its Certificates.
Unless and until Definitive Offered Certificates
of any Class are issued to the related
Certificate Owners, all references herein to the
rights of holders of such Class of Offered
Certificates are to the rights of those
Certificate Owners as such rights may be
exercised through DTC and its Participants,
except as otherwise specified herein.
Denominations .............. The Offered Certificates of each Class will be
issued, maintained and transferred on the
book-entry records of DTC and its Partici-
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pants in denominations of $1,000 actual or
notional principal amount and in integral
multiples of $1 in excess thereof.
The Mortgage Pool .......... The Mortgage Pool is expected to consist of 105
fixed rate Mortgage Loans which are secured by
first liens on 142 Mortgaged Properties and that
have an aggregate Cut-Off Date Balance of
$646,080,530 (the "Initial Pool Balance"). The
Cut-Off Date Balances of the Mortgage Loans will
range from $800,157 to $67,170,088, and the
Mortgage Loans will have an average Cut-Off Date
Balance of $6,153,148. All loan balances and
percentages are subject to a variance of plus or
minus 5%. The "Cut-Off Date Balance" of any
Mortgage Loan will equal the unpaid principal
balance thereof as of the Cut-Off Date, after
reduction for all payments of principal due on
or before such date, whether or not received.
All percentages referred to herein without
further description are approximate percentages
by Initial Pool Balance. References to
percentages of Mortgaged Properties are
references to the percentages of the Initial
Pool Balance represented by the portion of the
Cut-Off Date Balance of the related Mortgage
Loans represented by such Mortgaged Properties.
The proceeds of five (5) Mortgage Loans (18.58%)
(the "Construction Loans") were applied, in
part, to pay for the cost to construct the
improvements that are, in each case, subject to
the related Credit Lease. Payments on each of
the Construction Loans are interest only during
all or a portion of the scheduled construction
period and interest and principal thereafter.
Funds sufficient to pay interest during such
scheduled period were advanced to the related
borrowers and were deposited in each case in a
capitalized interest escrow account from which
monthly payments of interest on the Mortgage
Loans are to be disbursed when due. See "RISK
FACTORS--The Mortgage Loans--Risks Associated
with Construction Loans" herein.
Security for the
Mortgage Loans .......... All of the Mortgage Loans are generally
non-recourse obligations of the respective
borrowers. No payments due under any Mortgage
Loan are insured or guaranteed by any
governmental entity or private insurer, except
with respect to any Insured Balloon Payments (as
defined herein) and any payments made under any
Lease Enhancement Policy (as defined herein).
See "DESCRIPTION OF THE MORTGAGE POOL--Credit
Leases" herein.
Each Mortgage Loan is secured by a first mortgage
lien on the borrower's fee simple estate, except
as set forth below, in one or more
income-producing real properties (each, a
"Mortgaged Property"). Thirteen (13) of the
Mortgage Loans (15.97%) are secured by first
mortgage liens on the respective borrower's
leasehold estate and the fee simple estate in
the related Mortgaged Property. Seven (7) of the
Mortgage Loans (12.79%) are secured by a first
mortgage liens on the related borrower's
leasehold estates in the respective Mortgaged
Properties. See "DESCRIPTION OF THE MORTGAGE
POOL--General" herein.
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Each Mortgaged Property is subject to a lease (a
"Credit Lease") to a single tenant (each a
"Tenant" and, collectively, the "Tenants") which
meets (or whose parent or affiliate, which
guarantees the Credit Lease obligation, meets)
the credit criteria of the originator of such
Mortgage Loan. See "DESCRIPTION OF THE MORTGAGE
POOL--Credit Leases" and "--Underwriting
Criteria" herein. Scheduled rental payments (the
"Rental Payments") under each Credit Lease
(together with the amounts on deposit in any
capitalized interest escrow account relating to
a Construction Loan) are sufficient to pay in
full and on a timely basis all interest and
principal scheduled to be paid on the related
Mortgage Loan other than the Balloon Payment (as
defined herein), if any. See "RISK FACTORS--The
Mortgage Loans--Risks of Lending on Credit Lease
Loans" herein.
The Tenants (or Guarantors) with respect to
fifty-four (54) Mortgage Loans (49.59%) were
underwritten by the originator based upon an
actual published corporate credit rating (the
"Underwritten Rating"), from Standard & Poor's
of "BBB-" or higher; the Tenants (or Guarantors)
with respect to thirty-one (31) Mortgage Loans
(27.14%) were underwritten by the originator
based upon a corporate credit rating from
Standard & Poor's of "BB-" to "BB+ "; and the
Tenants (or Guarantors) with respect to the
remaining Mortgage Loans (23.27%) were
underwritten by the originator based upon a
Private Estimated Rating (as defined herein) and
which may or may not be "investment grade" as
defined by such rating agency.
The Credit Leases with respect to ninety-three
(93) Mortgage Loans (84.97%) are Bondable Leases
(as defined herein); the Credit Leases with
respect to six (6) Mortgage Loans (7.61%) are
Triple Net Leases (as defined herein); and the
Credit Leases with respect to six (6) Mortgage
Loans (7.42%) are Double Net Leases (as defined
herein). Each of the Mortgage Loans secured in
part by a Triple Net Lease or a Double Net Lease
has the benefit of a Lease Enhancement Policy
issued by Chubb Custom Insurance Company. See
"RISK FACTORS--The Mortgage Loans--Risks
Affecting Lease Enhancement Policy Proceeds"
herein. In addition, the Mortgage Loans secured
in part by a Double Net Lease generally have the
benefit of certain repair and maintenance
reserves and debt service coverage ratios in
excess of 1.0x to cover certain termination or
rent abatement rights of the related Tenant. See
"DESCRIPTION OF THE MORTGAGE POOL--Credit
Leases" herein.
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S-9
<PAGE>
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Property Types ............. Set forth below are the number of Mortgaged
Properties and the approximate percentage of the
Initial Pool Balance represented by the portion
of the Mortgage Loans that are secured by
Mortgaged Properties operated for each of the
indicated purposes:
% OF
NUMBER OF INITIAL
MORTGAGED POOL
PROPERTY TYPE PROPERTIES BALANCE
------------- ---------- -------
Retail
Drug Store ................ 43 19%
Electronics Store ......... 9 9%
Grocery/Department Store .. 3 7%
Furniture Store ........... 20 5%
Discount Department Store . 4 4%
Grocery Store ............. 3 3%
Other Retail .............. 3 6%
-----------------
85 51%
Office ...................... 9 31%
Health Club ................. 6 7%
Office/Garage ............... 1 5%
Office/Warehouse ............ 1 *
Other ....................... 40 5%
-----------------
Total ....................... 142 100%
----------
* Less than 1%.
Geographic
Concentration ........... The Mortgaged Properties for the Mortgage Loans
are located in twenty-eight (28) states. Set
forth below are the number of Mortgaged
Properties and the approximate percentage of the
Initial Pool Balance represented by such
Mortgaged Properties that are located in the
states with concentrations of Mortgaged
Properties above 5%:
% OF
NUMBER OF INITIAL
MORTGAGED POOL
STATE PROPERTIES BALANCE
------------- ---------- -------
Pennsylvania ................ 44 25%
New York .................... 10 15%
Washington .................. 8 6%
Florida ..................... 6 6%
California .................. 11 6%
Oregon ...................... 7 5%
Tenant Concentration ...... Eighty-seven (87) Mortgage Loans (76.04%) are
secured, in part, by Credit Leases to one of
eight unrelated Tenants (or Guarantors), each of
which are tenants with respect to Credit Leases
securing Mortgage Loans (or groups of Mortgage
Loans) which represent more than 5% of the
Initial Pool Balance. Three separate groups of
Mortgage Loans are respectively secured, in
part, by Credit Leases with Rite Aid
Corporation, Allegheny General Hospital and
Circuit City Stores, Inc., representing 18.30%,
15.87% and 10.70% of the Initial Pool Balance,
respectively. No other Tenants are tenants with
respect to Credit Leases securing Mortgage Loans
(or groups of Mortgage Loans)
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S-10
<PAGE>
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which represent more than 5% of the Initial Pool
Balance. See "DESCRIPTION OF THE MORTGAGE
POOL--Largest Tenants/Guarantors" herein.
Loan Size ................ Set forth below are the number of Mortgage Loans
and the approximate percentage of the aggregate
Cut-Off Date Balances represented by the
Mortgage Loans which have Cut-Off Date Balances
within the indicated range:
% OF
RANGE OF NUMBER OF INITIAL
CUT-OFF DATE MORTGAGE POOL
BALANCE LOANS BALANCE
------- --------- -------
$ 800,157-$ 999,999 ..... 2 *
1,000,000- 1,999,999 .... 25 6%
2,000,000- 2,999,999 .... 21 8%
3,000,000- 3,999,999 .... 15 8%
4,000,000- 4,999,999 .... 7 5%
5,000,000- 5,999,999 .... 7 6%
6,000,000- 6,999,999 .... 5 5%
7,000,000- 7,999,999 .... 4 5%
8,000,000- 8,999,999 .... 3 4%
9,000,000- 9,999,999 .... 2 3%
10,000,000- 14,999,999 .... 4 8%
15,000,000- 19,999,999 .... 6 16%
20,000,000- 24,999,999 .... 1 3%
25,000,000- 39,999,999 .... 1 5%
40,000,000- 67,170,088 .... 2 17%
-------------------
Total .................... 105 100%
----------
* Less than 1%.
Mortgage Loan Payments .... All of the Mortgage Loans bear interest at
annualized rates ("Mortgage Rates") that will
remain fixed for their respective remaining loan
terms. Scheduled payments (the "Periodic
Payments") of principal and interest (or
interest only payments with respect to each
Construction Loan during the initial portion of
their respective terms) on all but three of the
Mortgage Loans are due monthly. Periodic
Payments are due on the first, fifth or tenth
day of the month. See "DESCRIPTION OF THE
MORTGAGE POOL--Certain Terms and Conditions of
the Mortgage Loans--Due Dates" and "--Mortgage
Rates; Calculations of Interest" herein. With
respect to the three (3) Mortgage Loans
(17.29%), the Periodic Payments are due
quarterly (the "Quarterly Pay Loans"). With
respect to the Quarterly Pay Loans, the
principal portion of such payment received and
an amount equal to one month's interest payment
will be distributed to Certificateholders on the
Distribution Date in the month such Periodic
Payment is received. The remainder of the
interest portion of such payment will be held in
a reserve account (the "Quarterly Interest
Reserve Account"), subject to withdrawal on the
two immediately subsequent Distribution Dates,
to the extent of the amount received. See
"DESCRIPTION OF THE MORTGAGE POOL--Certain Terms
and Conditions of the Mortgage Loans--Due Dates"
and "--Mortgage Rates; Calculations of Interest"
herein.
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S-11
<PAGE>
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Amortization
Characteristics ......... Sixty-four (64) Mortgage Loans (74.61%) provide
for Periodic Payments that fully amortize the
principal balance of each such Mortgage Loan by
its maturity date (the "Fully Amortizing
Loans"), and forty-one (41) Mortgage Loans
(25.39%) provide for Periodic Payments based on
amortization schedules significantly longer than
their respective remaining terms to maturity
(the "Balloon Loans"). The Balloon Loans will
have substantial principal amounts due and
payable (each such amount, together with the
corresponding payment of interest, a "Balloon
Payment") on their respective scheduled maturity
dates, unless prepaid prior thereto. Each of the
Balloon Payments (the "Insured Balloon
Payments") with respect to thirty-eight (38)
Mortgage Loans (20.11%) (the "Insured Balloon
Loans") is covered by a Residual Value Insurance
Policy (as defined herein), and the Balloon
Payments with respect to three (3) Mortgage
Loans (5.27%) (the "Tenant Balloon Loans") are
lease obligations of the related Tenant. See
"RISK FACTORS--The Mortgage Loans" and
"DESCRIPTION OF THE MORTGAGE POOL--Credit
Leases" herein and "RISK FACTORS--Balloon
Payments; Borrower Default" in the Prospectus.
Set forth below are the number of Mortgage Loans,
the approximate percentage of the Initial Pool
Balance represented by Fully Amortizing Loans,
Insured Balloon Loans and Tenant Balloon Loans
and the weighted average Balloon Balance as a
percentage of the Original Principal Balance of
each applicable Mortgage Loan due on the related
Maturity Date:
WEIGHTED AVERAGE
BALLOON BALANCE
AS A % OF
% OF ORIGINAL
NUMBER OF INITIAL PRINCIPAL BALANCE
MORTGAGE POOL DUE AT
AMORTIZATION TYPE LOANS BALANCE MATURITY DATE
----------------- ----- ------- -------------
Fully Amortizing Loans .... 64 75% N/A
Insured Balloon Loans ..... 38 20% 26%
Tenant Balloon Loans ...... 3 5% 70%
---------------
Total ................... 105 100%
Defeasance ................ During their respective Lockout Periods (as
defined herein), but beginning not earlier than
two years after the Closing Date, all but one of
the Mortgage Loans provide that, in general, the
related borrower may substitute a pledge of
"Defeasance Collateral" in exchange for a
release of the Mortgaged Property from the lien
of the related Mortgage. In general, "Defeasance
Collateral" is direct, non-callable United
States Treasury obligations that provide for
payments on or prior to, but as close as
possible to, each successive Due Date with
respect to the defeased Mortgage Loan, with each
such payment being equal to or greater than the
Periodic Payment and Balloon Payment with
respect to such defeased Mortgaged Loan.
Prepayment Provisions ..... As of the Cut-Off Date, all of the Mortgage Loans
restrict or prohibit voluntary principal
prepayments by the borrowers (other than by
reason of a material casualty, condemnation or
other event not caused by the borrower and
affecting the Mortgaged Property, as
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S-12
<PAGE>
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set forth below). In general, the Mortgage Loans
prohibit voluntary prepayments of principal for
a period (a "Lockout Period") ending on a date
specified in the related Mortgage Note (as
defined herein) and, in the case of three (3)
Mortgage Loans (3.75%), thereafter impose a
Yield Maintenance Charge or Percentage Premium
(each as defined herein) for most of their
respective remaining terms to maturity. See
"DESCRIPTION OF THE MORTGAGE POOL--Additional
Mortgage Loan Information" herein. The ability
of the Master Servicer or the Special Servicer
to waive or modify the terms of any Mortgage
Loan relating to the payment of a Prepayment
Premium (as defined herein) is limited as
described herein. See "SERVICING OF THE MORTGAGE
LOANS--Modifications, Waivers and Amendments"
herein. Neither the Depositor nor the Mortgage
Loan Seller makes any representation as to the
enforceability of the provision of any Mortgage
Note requiring the payment of a Prepayment
Premium, or of the collectability of any
Prepayment Premium.
Dates of Origination ..... Set forth below is the approximate percentage of
the Initial Pool Balance represented by the
Mortgage Loans that were originated in the
indicated year:
% OF
INITIAL POOL
YEAR BALANCE
---- ------------
1996 15%
1997 62%
1998 24%
Additional Mortgage Loan
Characteristics ......... Set forth below is certain information regarding
the Mortgage Loans and the related Mortgaged
Properties as of the Cut-Off Date (weighted
averages set forth below are based on the
Initial Pool Balance). Such information is more
fully described, and additional information
regarding the Mortgage Loans and the related
Mortgaged Properties is set forth, in the tables
under "DESCRIPTION OF THE MORTGAGE
POOL--Additional Mortgage Loan Information"
herein and in Annex A hereto. All terms used
below are otherwise defined herein.
Minimum Cut-Off Date Balance ................. $ 800,157
Maximum Cut-Off Date Balance ................. $67,170,088
Average Cut-Off Date Balance ................. $ 6,153,148
Minimum Mortgage Rate ........................ 6.570%
Maximum Mortgage Rate ........................ 9.000%
Weighted Average Mortgage Rate ............... 7.489%
Minimum Remaining Term (months) .............. 112
Maximum Remaining Term (months) .............. 300
Weighted Average Remaining Term (months) ..... 244
Description of the
Certificates ............. The Certificates will be issued pursuant to a
Pooling and Servicing Agreement, to be dated as
of March 1, 1998, among the Depositor, the
Master Servicer, the Special Servicer and the
Trustee (the "Pooling and Servicing Agreement"),
and will represent in the
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S-13
<PAGE>
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aggregate the entire beneficial ownership
interest in a trust fund (the "Trust Fund")
consisting of the Mortgage Loans and certain
related assets.
Certificate and Component
Balances and Notional
Amounts ................. Upon initial issuance, and in each case subject to
a permitted variance of plus or minus 5%, the
Offered Certificates (other than the Class IO
Certificates) will have the Certificate Balances
representing the approximate percentage of the
Initial Pool Balance set forth in the table at
the beginning of this Summary.
The "Certificate Balance" of any Class of
Sequential Pay Certificates and the Class A-PO
Certificates outstanding at any time represents
the maximum amount that the holders thereof are
entitled to receive as distributions allocable
to principal from the cash flow on the Mortgage
Loans and the other assets in the Trust Fund. As
described herein, the Certificate Balance of
each Class of Sequential Pay Certificates and
the Class A-PO Certificates will be reduced on
each Distribution Date by any distributions of
principal actually made on such Class of
Certificates on such Distribution Date, and
further by any Realized Losses and Additional
Trust Fund Expenses (each as defined herein)
that are allocated to such Class of Certificates
on such Distribution Date pursuant to the terms
of the Pooling and Servicing Agreement.
The Class IO Certificates will not have a
principal balance, but will represent the right
to receive the sum of the interest accrued on
the notional amount of each of its Components,
as described herein. Each such Component will
relate to each separate Class of Sequential Pay
Certificates. As of any Distribution Date, each
Component will have a notional amount equal to
the Certificate Balance of the Class of
Sequential Pay Certificates with the same Class
designation immediately prior to such
Distribution Date. Each Component will accrue
interest at its applicable Strip Rate (as set
forth below) on its related notional amount. The
Components do not represent separate Classes of
Certificates, but rather separate components,
each of which is a part of the Class IO
Certificates.
None of the REMIC Residual Certificates will have
a Certificate Balance.
See "DESCRIPTION OF THE CERTIFICATES--Certificate
Balances and Notional Amounts" herein.
Pass-Through Rates ........ The Pass-Through Rate applicable to each Class of
Sequential Pay Certificates for each
Distribution Date is set forth in the table at
the beginning of the Summary.
The Class IO Certificates will receive payments of
interest equal to the aggregate of the interest
accrued on each of its Components. Each
Component will accrue interest on its notional
amount at its applicable Strip Rate (as set
forth below). The Strip Rate applicable to the
Class A-1, Class A-2, Class A-3, Class B, Class
C, Class D and Class E Components of the Class
IO Certificates for each Distribution Date will
equal the Weighted Average Net
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S-14
<PAGE>
- --------------------------------------------------------------------------------
Mortgage Rate for such Distribution Date minus
6.31%, 6.48%, 6.72%, 6.75%, 6.75%, 6.75% and
6.75%, respectively (but not less than zero);
and the Strip Rate applicable to the Class F,
Class G, Class H, Class J and Class K Components
of the Class IO Certificates for each
Distribution Date will each equal the Weighted
Average Net Mortgage Rate for such Distribution
Date minus 6.25% (but not less than zero).
The Class A-PO Certificates will not bear
interest, but will represent the right to
receive payment of principal as described
herein. See "DESCRIPTION OF THE
CERTIFICATES--Distributions" herein. The REMIC
Residual Certificates will not bear interest,
but will represent the right to receive certain
limited amounts not otherwise payable on the
REMIC Regular Certificates.
The "Weighted Average Net Mortgage Rate" for each
Distribution Date is the weighted average of the
Net Mortgage Rates for the Mortgage Loans as of
the commencement of the related Collection
Period (as defined herein), weighted on the
basis of their respective Stated Principal
Balances outstanding immediately prior to such
Distribution Date. The "Net Mortgage Rate" for
each Mortgage Loan will equal (x) the Mortgage
Rate in effect for such Mortgage Loan as of the
Cut-Off Date, minus (y) the Administrative Cost
Rate (as defined herein) for such Mortgage Loan;
provided, for purposes of computing the Weighted
Average Net Mortgage Rate, the Net Mortgage Rate
for each Mortgage Loan having a Net Mortgage
Rate less than 6.75% (each, a "Discount Mortgage
Loan ") will be deemed to be 6.75% (such
Mortgage Loan to be weighted by its Stated
Principal Balance multiplied by (1 minus the
Class A-PO Fraction)). The "Stated Principal
Balance" of each Mortgage Loan outstanding at
any time represents the principal balance of
such Mortgage Loan ultimately due and payable
thereon and generally will equal the Cut-Off
Date Balance thereof, reduced on each
Distribution Date (to not less than zero) by (i)
any payments or other collections (or advances
in lieu thereof) of principal on such Mortgage
Loan that are due or received, as the case may
be, during the related Collection Period and
distributed on the Certificates on such
Distribution Date and (ii) the principal portion
of any Realized Loss incurred in respect of such
Mortgage Loan during the related Collection
Period for such Distribution Date.
Notwithstanding the foregoing, if any Mortgage
Loan is paid in full, liquidated or otherwise
removed from the Trust Fund, commencing as of
the first Distribution Date following the
Collection Period during which such event
occurred, the Stated Principal Balance of such
Mortgage Loan will be zero. See "DESCRIPTION OF
THE CERTIFICATES--Pass-Through Rates" herein.
Distributions ............. Distributions on the Certificates will be made by
the Trustee, to the extent of available funds,
on the 15th day of each month or, if any such
15th day is not a business day, then on the next
succeeding business day, commencing April 16,
1998 (each, a "Distribution Date "); provided,
however, that the Distribution Date will be no
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S-15
<PAGE>
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earlier than the fourth business day following
the related Determination Date.
One each Distribution Date, for so long as the
aggregate Certificate Balance of the Classes of
the Sequential Pay Certificates is greater than
zero, the Trustee will (except as otherwise
described under "DESCRIPTION OF THE
CERTIFICATES--Termination" herein) distribute
the following amounts from the Available
Distribution Amount for such date for the
following purposes and in the following order of
priority, in each case to the extent of the
Available Distribution Amount:
(1) to distributions of interest to the
holders of the Class A-1, Class A-2, Class
A-3 and Class IO Certificates (in each
case, so long as any such Class remains
outstanding), pro rata, in accordance with
the respective amounts of Distributable
Certificate Interest (as defined herein)
in respect of such Classes of Certificates
on such Distribution Date, in an amount
equal to all Distributable Certificate
Interest in respect of each such Class of
Certificates for such Distribution Date
and, to the extent not previously paid,
for all prior Distribution Dates;
(2) to distributions of principal to the
holders of the Class A-PO Certificates in
an amount (not to exceed the then
outstanding Certificate Balance of such
Class of Certificates) equal to the Class
A-PO Principal Distribution Amount (as
defined herein) for such Distribution
Date;
(3) to distributions of principal to the
holders of the Class A-1 Certificates in
an amount (not to exceed the then
outstanding Certificate Balance of such
Class of Certificates) equal to the
Principal Distribution Amount (as defined
herein) for such Distribution Date, less
any portion thereof distributed in respect
of the Class A-PO Certificates;
(4) after the Class A-1 Certificates have been
retired, to distributions of principal to
the holders of the Class A-2 Certificates
in an amount (not to exceed the then
outstanding Certificate Balance of such
Class of Certificates) equal to the
Principal Distribution Amount for such
Distribution Date, less any portion
thereof distributed in respect of the
Class A-PO and/or Class A-1 Certificates;
(5) after the Class A-1 and Class A-2
Certificates have been retired, to
distributions of principal to the holders
of the Class A-3 Certificates in an amount
(not to exceed the then outstanding
Certificate Balance of such Class of
Certificates) equal to the Principal
Distribution Amount for such Distribution
Date, less any portion thereof distributed
in respect of the Class A-PO, Class A-1
and/or Class A-2 Certificates;
(6) to distributions to the holders of the
Class A-1, Class A-2, Class A-3 and Class
A-PO Certificates, pro rata, in
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S-16
<PAGE>
- --------------------------------------------------------------------------------
accordance with the amount of Realized
Losses and Additional Trust Fund Expenses,
if any previously allocated to such
Classes of Certificates for which no
reimbursement has previously been
received, to reimburse such holders for
such Realized Losses and Additional Trust
Fund Expenses, if any;
(7) to distributions of interest to the
holders of the Class B Certificates in an
amount equal to all Distributable
Certificate Interest in respect of such
Class of Certificates for such
Distribution Date and, to the extent not
previously paid, for all prior
Distribution Dates;
(8) after the Class A-1, Class A-2 and Class
A-3 Certificates have been retired, to
distributions of principal to the holders
of the Class B Certificates in an amount
(not to exceed the then outstanding
Certificate Balance of such Class of
Certificates) equal to the Principal
Distribution Amount for such Distribution
Date, less any portion thereof distributed
in respect of the Class A-1, Class A-2,
Class A-3 and/or Class A-PO Certificates;
(9) to distributions to the holders of the
Class B Certificates to reimburse such
holders for all Realized Losses and
Additional Trust Fund Expenses, if any,
previously allocated to such Class of
Certificates and for which no
reimbursement has previously been
received;
(10 to distributions of interest to the
holders of the Class C Certificates in an
amount equal to all Distributable
Certificate Interest in respect of such
Class of Certificates for such
Distribution Date and, to the extent not
previously paid, for all prior
Distribution Dates;
(11) after the Class A-1, Class A-2, Class A-3
and Class B Certificates have been
retired, to distributions of principal to
the holders of the Class C Certificates in
an amount (not to exceed the then
outstanding Certificate Balance of such
Class of Certificates) equal to the
Principal Distribution Amount for such
Distribution Date, less any portion
thereof distributed in respect of the
Class A-1, Class A-2, Class A-3, Class
A-PO and/or Class B Certificates;
(12) to distributions to the holders of the
Class C Certificates to reimburse such
holders for all Realized Losses and
Additional Trust Fund Expenses, if any,
previously allocated to such Class of
Certificates and for which no
reimbursement has previously been
received;
(13) to distributions of interest to the
holders of the Class D Certificates in an
amount equal to all Distributable
Certificate Interest in respect of such
Class of Certificates for such
Distribution Date and, to the extent not
previously paid, for all prior
Distribution Dates;
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S-17
<PAGE>
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(14) after the Class A-1, Class A-2, Class A-3,
Class B and Class C Certificates have been
retired, to distributions of principal to
the holders of the Class D Certificates in
an amount (not to exceed the then
outstanding Certificate Balance of such
Class of Certificates) equal to the
Principal Distribution Amount for such
Distribution Date, less any portion
thereof distributed in respect of the
Class A-1, Class A-2, Class A-3, Class
A-PO, Class B and/or Class C Certificates;
(15) to distributions to the holders of the
Class D Certificates to reimburse such
holders for all Realized Losses and
Additional Trust Fund Expenses, if any,
previously allocated to such Class of
Certificates and for which no
reimbursement has previously been
received;
(16) to distributions of interest to the
holders of the Class E Certificates in an
amount equal to all Distributable
Certificate Interest in respect of such
Class of Certificates for such
Distribution Date and, to the extent not
previously paid, for all prior
Distribution Dates;
(17) after the Class A-1, Class A-2, Class A-3,
Class B, Class C and Class D Certificates
have been retired, to distributions of
principal to the holders of the Class E
Certificates in an amount (not to exceed
the then outstanding Certificate Balance
of such Class of Certificates) equal to
the Principal Distribution Amount for such
Distribution Date, less any portion
thereof distributed in respect of the
Class A-1, Class A-2, Class A-3, Class
A-PO, Class B, Class C and/or Class D
Certificates;
(18) to distributions to the holders of the
Class E Certificates to reimburse such
holders for all Realized Losses and
Additional Trust Fund Expenses, if any,
previously allocated to such Class of
Certificates and for which no
reimbursement has previously been
received; and
(19) to distributions to the holders of the
respective Classes of Private Certificates
(other than the REMIC Residual
Certificates) as described herein
(provided that no distributions of
principal will be made in respect of any
Class of Private Certificates until the
aggregate Certificate Balance of the Class
A-1, Class A-2, Class A-3, Class B, Class
C, Class D and Class E Certificates has
been reduced to zero). See "DESCRIPTION
OF THE CERTIFICATES -- Distributions --
Application of Available Distribution
Amount" herein.
The "Distributable Certificate Interest" in
respect of any Class of REMIC Regular
Certificates for each Distribution Date (other
than the Class A-PO Certificates, which will not
entitle the holders thereof to receive
distributions of interest) represents that
portion of the Accrued Certificate Interest in
respect of such Class of Certificates and such
Distribution Date reduced (to not
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S-18
<PAGE>
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less than zero) by such Class's allocable share
(calculated as described below) of the aggregate
of any Prepayment Interest Shortfalls (as
defined herein) resulting from voluntary
principal prepayments made on the Mortgage Loans
during the related Collection Period that are
not covered by the Master Servicer's
Compensating Interest Payment (as defined
herein) for such Distribution Date (the
aggregate of such Prepayment Interest Shortfalls
that are not so covered, as to such Distribution
Date, the "Net Aggregate Prepayment Interest
Shortfall"). See "SERVICING OF THE MORTGAGE
LOANS--Servicing and Other Compensation and
Payment of Expenses" and "DESCRIPTION OF THE
CERTIFICATES -- Distributions -- Distributable
Certificate Interest" herein.
The "Accrued Certificate Interest" in respect of
each Class of Sequential Pay Certificates for
each Distribution Date is equal to one month's
interest at the Pass-Through Rate applicable to
such Class of Certificates and such Distribution
Date accrued during the immediately preceding
calendar month on the related Certificate
Balance outstanding immediately prior to such
Distribution Date. The "Accrued Certificate
Interest" in respect of the Class IO
Certificates for each Distribution Date is equal
to the sum of one month's interest on each of
its Components at the Strip Rate applicable to
such Component and such Distribution Date
accrued during the immediately preceding
calendar month. Accrued Certificate Interest
will be calculated on a 30/360 day basis. The
portion of the Net Aggregate Prepayment Interest
Shortfall for any Distribution Date that is
allocable to each Class of REMIC Regular
Certificates (other than the Class A-PO
Certificates) will equal the product of (a) such
Net Aggregate Prepayment Interest Shortfall
multiplied by (b) a fraction, the numerator of
which is equal to the Accrued Certificate
Interest in respect of such Class of
Certificates for such Distribution Date, and the
denominator of which is equal to the aggregate
Accrued Certificate Interest for all the REMIC
Regular Certificates for such Distribution Date.
The "Principal Distribution Amount" for each
Distribution Date will generally equal the
aggregate of the following: (a) the aggregate of
the principal portions of all Scheduled Payments
(as defined herein) (other than Balloon
Payments) due, and the principal portions of any
Assumed Scheduled Payments (as defined herein)
deemed due, on or in respect of the Mortgage
Loans for their respective Due Dates occurring
during the related Collection Period; (b) the
aggregate of all principal prepayments received
on the Mortgage Loans during the related
Collection Period; (c) with respect to any
Mortgage Loan as to which the related stated
maturity date occurred during or prior to the
related Collection Period, any payment of
principal made by or on behalf of the related
borrower during the related Collection Period
(including any Balloon Payment), net of any
portion of such payment that represents a
recovery of the principal portion of any
Scheduled Payment (other than a Balloon Payment)
due or the principal portion of any Assumed
Scheduled Payment
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S-19
<PAGE>
- --------------------------------------------------------------------------------
deemed due, in respect of such Mortgage Loan on
a Due Date during or prior to the related
Collection Period and not previously recovered;
(d) the aggregate of all Liquidation Proceeds
and Insurance Proceeds (each as defined in the
Prospectus), condemnation awards and proceeds of
Mortgage Loan repurchases that were received on
or in respect of Mortgage Loans during the
related Collection Period and that were
identified and applied by the Master Servicer as
recoveries of principal, in each case net of any
portion of such amounts that represents a
recovery of the principal portion of any
Scheduled Payment (other than a Balloon Payment)
due, or of the principal portion of any Assumed
Scheduled Payment deemed due, in respect of the
related Mortgage Loan on a Due Date during or
prior to the related Collection Period and not
previously recovered; and (e) if such
Distribution Date is subsequent to the initial
Distribution Date, the excess, if any, of the
Principal Distribution Amount for the
immediately preceding Distribution Date, over
the aggregate distributions of principal made on
the Certificates on such immediately preceding
Distribution Date.
The "Class A-PO Principal Distribution Amount" for
each Distribution Date that the Class A-PO
Certificates are outstanding will equal the
aggregate of the following: (a) with respect to
each outstanding Discount Mortgage Loan, the
product of (x) the principal portion of the
related Scheduled Payment due and (y) the
related Class A-PO Fraction (as defined below)
and (b) the product of (x) an amount equal to
any Realized Losses that were realized during
the related Collection Period with respect to
any Discount Mortgage Loan (to the extent such
Realized Losses were not allocated to the Class
A-PO Certificates) and (y) the related Class
A-PO Fraction. With respect to each Discount
Mortgage Loan, the "Class A-PO Fraction" will
equal a fraction, the numerator of which is
6.75% minus the Net Mortgage Rate for such
Mortgage Loan and the denominator of which is
6.75%. See "--Subordination; Allocation Losses
and Certain Expenses" herein.
Reimbursements of Realized Losses and Additional
Trust Fund Expenses previously allocated to
principal will not constitute distributions of
principal for any purpose and will not result in
an additional reduction in the Certificate
Balance of the Class of Certificates in respect
of which any such reimbursement is made.
The holders of the Certificates (other than the
Class A-PO Certificates) may also receive
portions of any Prepayment Premiums, to the
extent described under "DESCRIPTION OF THE
CERTIFICATES--Distributions--Allocation of
Prepayment Premiums" herein. Such distributions
will be in addition to the distributions of
interest, if any, made to such holders from the
Available Distribution Amount on each
Distribution Date.
Advances .................. Subject to a recoverability determination, as
described herein, and further subject to the
reduced advancing obligations in respect of
certain Required Appraisal Loans (as defined
herein) and certain Mortgage Loans as to which
the Periodic Payment has been reduced as part of
a modification or otherwise, the Master
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S-20
<PAGE>
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Servicer will be required to make advances
(each, a "P&I Advance") with respect to each
Distribution Date, in an amount that is
generally equal to the aggregate of all
Scheduled Payments (other than Balloon
Payments) and any Assumed Scheduled Payments,
net of related Servicing Fees and any related
Recovery Fees (each as defined herein), due or
deemed due, as the case may be, on or in
respect of the Mortgage Loans during the
related Collection Period, in each case to the
extent that such amount was not paid by or on
behalf of the related borrower or otherwise
collected as of the close of business on the
related Determination Date. Additionally,
pursuant to the Pooling and Servicing
Agreement, the Master Servicer will be required
to make certain other advances, including but
not limited to, the Protective Advances (as
defined herein) subject to the recovery
standards described herein. Pursuant to the
terms of the Pooling and Servicing Agreement,
if the Master Servicer fails to make a required
P&I Advance or Protective Advance, the Trustee
shall then be obligated to make such P&I
Advance or Protective Advance, in each case
subject to a recoverability determination, as
described herein and further subject to the
reduced advancing obligations in respect of
certain Required Appraisal Loans and certain
Mortgage Loans as to which the Periodic Payment
has been reduced as part of a modification or
otherwise. See "DESCRIPTION OF THE
CERTIFICATES--Advances" herein.
As described herein, the Master Servicer (or the
Trustee) will be entitled to interest on any P&I
Advance or Protective Advance made by it, and
each of the Master Servicer, the Special
Servicer and the Trustee will be entitled to
interest on certain reimbursable servicing
expenses incurred by each of them (each such P&I
Advance, Protective Advance or expense, an
"Advance "). Such interest will accrue from the
date any such Advance is made or such servicing
expense is incurred at a rate per annum equal to
the "prime rate" published in the "Money Rates"
section of The Wall Street Journal, as such
"prime rate" may change from time to time (the
"Reimbursement Rate"), compounded annually, and
will be paid, first, out of collections with
respect to default interest paid with respect to
the related Mortgage Loan, and second, out of
general collections on the Mortgage Loans then
on deposit in the Certificate Account,
contemporaneously with the reimbursement of the
related Advance; provided, however, that with
respect to any Protective Advances, the interest
rate will equal the Reimbursement Rate plus 2.0%
per annum. See "DESCRIPTION OF THE
CERTIFICATES--Advances" herein and "DESCRIPTION
OF THE CERTIFICATES -- Advances in Respect of
Delinquencies" and "DESCRIPTION OF THE POOLING
AGREEMENTS -- Certificate Account" in the
Prospectus.
Compensating Interest
Payments ................. With respect to any Distribution Date, to the
extent of an amount equal to the Master
Servicing Fee, plus any Prepayment Interest
Excesses (each as defined herein) received
during the related Collection Period, the
Master Servicer is required to make a
non-reimbursable payment (a "Compensating
Interest Pay-
S-21
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<PAGE>
ment") with respect to each Distribution Date
to cover the aggregate of any Prepayment
Interest Shortfalls incurred during such
Collection Period. A "Prepayment Interest
Shortfall" is a shortfall in the collection of
a full month's interest (net of the related
Master Servicing Fee and without regard to any
Prepayment Premium actually collected) on any
Mortgage Loan by reason of a full or partial
voluntary principal prepayment made prior to
its Due Date in any Collection Period. A
"Prepayment Interest Excess" is a payment of
interest (net of the related Servicing Fees
and the Trustee Fee) made in connection with
any full or partial prepayment of a Mortgage
Loan after its Due Date in any Collection
Period, which payment of interest is intended
to cover the period on and after such Due Date
(exclusive of any Prepayment Premium actually
collected). The "Net Aggregate Prepayment
Interest Shortfall" for any Distribution Date
will be the amount, if any, by which (a) the
aggregate of any Prepayment Interest
Shortfalls incurred during the related
Collection Period exceeds (b) any Compensating
Interest Payment made by the Master Servicer
with respect to such Distribution Date. See
"SERVICING OF THE MORTGAGE LOANS -- Servicing
and Other Compensation and Payment of
Expenses" and "DESCRIPTION OF THE CERTIFICATES
-- Distributions -- Distributable Certificate
Interest" herein.
Subordination;
Allocation of Losses
and Certain Expenses ..... The rights of holders of the Class B, Class C,
Class D, Class E and the Private Certificates
(collectively, the "Subordinate Certificates")
to receive distributions of amounts collected
or advanced on the Mortgage Loans will, in
each case, be subordinated, to the extent
described herein, to the rights of holders of
the Class A-1, Class A-2, Class A-3, Class
A-PO and Class IO Certificates (collectively,
the "Senior Certificates") and each other such
Class of Subordinate Certificates, if any,
with an earlier alphabetical class
designation. This subordination is intended to
enhance the likelihood of timely receipt by
the holders of the Senior Certificates of the
full amount of Distributable Certificate
Interest payable in respect of such Classes of
Certificates (other than the Class A-PO
Certificates) on each Distribution Date, and
the ultimate receipt by the holders of the
Senior Certificates (other than the Class IO
Certificates) of principal equal to the entire
respective Certificate Balances of the Class
A-1, Class A-2, Class A-3 and Class A-PO
Certificates. Similarly, but to decreasing
degrees, this subordination is also intended
to enhance the likelihood of timely receipt by
the holders of the Class B, Class C, Class D
and Class E Certificates (in such order) of
the full amount of Distributable Certificate
Interest payable in respect of such Classes of
Certificates on each Distribution Date, and
the ultimate receipt by the holders of such
Certificates of principal equal to the entire
respective Certificate Balances of such
Classes of Certificates. The protection
afforded to the holders of the Senior
Certificates and, to an increasingly lesser
extent, each Class of Offered Certificates
subordinate
S-22
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<PAGE>
thereto by means of the subordination referred
to above will be accomplished by (i) the
application of the Available Distribution
Amount on each Distribution Date in the order
described above in this Summary under
"--Description of the Certificates--
Distributions" and (ii) the allocation of
Realized Losses and Additional Trust Fund
Expenses as described below. No other form of
credit support will be available for the
benefit of the holders of the Offered
Certificates.
On each Distribution Date, following all
distributions on the Certificates to be made on
such date, the aggregate of all Realized Losses
and Additional Trust Fund Expenses (to the
extent such Additional Trust Fund Expenses are
not covered by interest received on the
Mortgage Loans) that have been incurred since
the Cut-Off Date through the end of the related
Collection Period and that have not previously
been so allocated will be allocated, subject to
the limitations described herein, first to the
Private Certificates in the order described in
the Pooling and Servicing Agreement, and then
to the Class E, Class D, Class C and Class B
Certificates, in that order, until the
Certificate Balance of each such Class has been
reduced to zero. Thereafter any additional
Realized Losses will be allocated to the Class
A-1, Class A-2 and Class A-3 Certificates, pro
rata in proportion to their outstanding
Certificate Balances; provided that if a
Realized Loss otherwise allocable to the Class
A-1, Class A-2 and Class A-3 Certificates
occurs with respect to a Discount Mortgage
Loan, an amount equal to the product of the
related Class A-PO Fraction and the amount of
such loss shall be allocated to the Class A-PO
Certificates and the remainder shall be
allocated pro rata to the Class A-1, Class A-2
and Class A-3 Certificates and any Additional
Trust Fund Expenses will be allocated to the
Class A-1, Class A-2, Class A-3 and Class A-PO
Certificates, pro rata, in proportion to their
outstanding Certificate Balances. Any Realized
Losses or Additional Trust Fund Expenses
allocated to a Class or Classes of Certificates
will reduce their respective Certificate
Balances as of the related Distribution Date,
but in the aggregate only to the extent that
the aggregate Certificate Balance of such
Classes of Certificates remaining outstanding
after giving effect to the distributions on
such Distribution Date exceeds the aggregate
Stated Principal Balance of the Mortgage Pool
that will be outstanding immediately following
such Distribution Date. See "DESCRIPTION OF THE
CERTIFICATES--Subordination; Allocation of
Losses and Certain Expenses" herein.
Any Realized Loss or Additional Trust Fund
Expenses allocated in reduction of any Class of
Sequential Pay Certificates will also result in
a corresponding reduction in the notional
amount of the related Component.
Treatment of REO
Properties ............... Notwithstanding that any Mortgaged Property may
be acquired on behalf of the Certificateholders
through foreclosure, deed in lieu of
foreclosure or otherwise (such Mortgaged
Property, upon acquisition, an "REO Property"),
the related Mortgage Loan
S-23
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<PAGE>
will be treated, for purposes of (i)
determining distributions on the Certificates,
(ii) allocating Realized Losses and Additional
Trust Fund Expenses to the Certificates and
(iii) determining the amount of fees payable to
the Trustee, the Master Servicer and the
Special Servicer under the Pooling and
Servicing Agreement, as having remained
outstanding until such REO Property is
liquidated. In connection therewith, operating
revenues and other proceeds derived from such
REO Property (net of related operating costs,
including certain reimbursements payable to the
Master Servicer or the Special Servicer in
connection with the operation and disposition
of such REO Property) will be "applied" by the
Master Servicer as principal, interest and
other amounts that would have been "due" on
such Mortgage Loan, and the Master Servicer
will be required to make P&I Advances in
respect of such Mortgage Loan, in each case as
if such Mortgage Loan had remained outstanding.
Optional Termination ...... Each of the Depositor and the Master Servicer
will have an option to purchase all of the
Mortgage Loans and all REO Properties, if any,
and thereby effect an early termination of the
Trust Fund and an early retirement of the then
outstanding Certificates, on any Distribution
Date on which the aggregate Stated
Principal Balance of the Mortgage Pool is less
than 1% of the Initial Pool Balance. See
"DESCRIPTION OF THE CERTIFICATES--Termination"
herein and in the Prospectus.
Risk Factors .............. There are material risks associated with an
investment in the Offered Certificates. See
"RISK FACTORS" herein and in the Prospectus.
Certain Investment
Considerations ........... The yield to maturity of the Class A-1, Class
A-2, Class A-3, Class B, Class C, Class D and
Class E Certificates purchased at a discount or
premium will be affected by the rate and timing
of prepayments and other unscheduled
collections of principal on or in respect of
the Mortgage Loans and the allocation thereof
to reduce the Certificate Balance of such
Certificate. An investor should consider, in
the case of any such Certificate purchased at a
discount, the risk that a slower than
anticipated rate of prepayments could result in
a lower than anticipated yield and, in the case
of any such Certificate purchased at a premium,
the risk that a faster than anticipated rate of
prepayments could result in a lower than
anticipated yield. THE YIELD TO MATURITY ON THE
CLASS IO CERTIFICATES AND THE CLASS A-PO
CERTIFICATES WILL BE HIGHLY SENSITIVE TO THE
RATE AND TIMING OF PRINCIPAL PAYMENTS
(INCLUDING BY REASON OF PREPAYMENTS, DEFAULTS
AND LIQUIDATIONS) ON THE MORTGAGE LOANS AND
INVESTORS IN THE CLASS IO CERTIFICATES AND THE
CLASS A-PO CERTIFICATES SHOULD FULLY CONSIDER
THE ASSOCIATED RISKS, INCLUDING, WITH RESPECT
TO THE CLASS IO CERTIFICATES, THE RISK THAT A
RAPID RATE OF PREPAYMENT ON THE MORTGAGE LOANS
COULD RESULT IN THE FAILURE OF SUCH INVESTORS
TO FULLY RECOUP THEIR INITIAL INVESTMENTS, AND
WITH RESPECT TO THE CLASS A-PO CERTIFICATES,
THE RISK THAT A SLOWER THAN EXPECTED RATE OF
PRINCIPAL PAYMENTS AND PREPAYMENTS ON THE
MORTGAGE LOANS, PARTICULARLY THE
S-24
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<PAGE>
DISCOUNT MORTGAGE LOANS, COULD RESULT IN A
LOWER THAN EXPECTED YIELD ON THE CLASS A-PO
CERTIFICATES. See "YIELD AND MATURITY
CONSIDERATIONS" herein and in the Prospectus.
The allocation to any Class A-1, Class A-2,
Class A-3, Class B, Class C, Class D, Class E
and Class IO Certificates of any Prepayment
Premium may be insufficient to offset fully any
adverse effects on the reduction to the
anticipated yield to maturity resulting from
the corresponding principal prepayment. See
"DESCRIPTION OF CERTIFICATES--Distributions
--Allocation of Prepayment Premiums" herein.
In addition, insofar as an investor's initial
investment in any Offered Certificate (other
than the Class IO Certificates) is returned in
the form of prepayments of principal thereon,
there can be no assurance that such amounts can
be reinvested in comparable alternative
investments with comparable yields. Investors
in the Offered Certificates should consider
that, following a material casualty,
condemnation or other event affecting the
Mortgaged Property not caused by the borrower,
all of the Mortgage Loans may be prepaid at any
time and certain of the Mortgage Loans may be
prepaid at any time after the expiration of the
applicable Lockout Period, subject, in most
cases, to the payment of a Yield Maintenance
Charge or Percentage Premium. See "DESCRIPTION
OF THE MORTGAGE POOL--Certain Terms and
Conditions of the Mortgage Loans--Prepayment
Provisions" herein and the prepayment
restrictions tables set forth therein.
Accordingly, the rate of prepayments on the
Mortgage Loans is likely to be inversely
related to the level of prevailing market
interest rates (and, presumably, to the yields
on comparable alternative investments).
Material Federal Income
Tax Consequences ......... One or more separate "real estate mortgage
investment conduit" ("REMIC") elections will be
made with respect to the Trust Fund for federal
income tax purposes. The assets of the lowest
tier REMIC will generally consist of the
Mortgage Loans, any REO Properties acquired on
behalf of the Certificateholders and the
Certificate Account (see "DESCRIPTION OF THE
POOLING AGREEMENTS--Certificate Account" in the
Prospectus). For federal income tax purposes
the REMIC Regular Certificates (or, in the case
of the Class IO Certificates, each Component
thereof) will represent "regular interests" in
a REMIC and generally will be treated as debt
instruments of such REMIC.
The Class A-1, Class A-2, Class A-3, Class B,
Class C and Class D Certificates will not, and
Class E, Class A-PO and Class IO Certificates
will, be treated as having been issued with
original issue discount for federal income tax
reporting purposes. The prepayment assumption
that will be used for purposes of computing the
accrual of original issue discount, market
discount and premium, if any, for federal
income tax purposes will be equal to a CPR (as
defined herein) of 0%. However, no
S-25
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<PAGE>
representation is made that the Mortgage Loans
will prepay at that rate or at any other rate.
The Offered Certificates will be treated as "real
estate assets" within the meaning of Section
856(c)(5)(A) of the Internal Revenue Code of
1986, as amended (the "Code "). In addition,
interest (including original issue discount) on
the Offered Certificates will be interest
described in Section 856(c)(3)(B) of the Code.
However, the Offered Certificates will
generally only be considered assets described
in Section 7701(a)(19)(C) of the Code to the
extent that the Mortgage Loans are secured by
residential property and, accordingly, an
investment in the Offered Certificates may not
be suitable for certain thrift institutions.
For further information regarding the federal
income tax consequences of investing in the
Offered Certificates, see "MATERIAL FEDERAL
INCOME TAX CONSEQUENCES" herein and in the
Prospectus.
ERISA Considerations ...... A fiduciary of any employee benefit plan or other
retirement arrangement subject to the Employee
Retirement Income Security Act of 1974, as
amended ("ERISA"), or Section 4975 of the Code
(each, a "Plan ") should review carefully with
its legal advisors whether the purchase or
holding of Offered Certificates could give rise
to a transaction that is prohibited or is not
otherwise permitted either under ERISA or
Section 4975 of the Code or whether there
exists any statutory or administrative
exemption applicable to an investment therein.
The U.S. Department of Labor has issued to
Merrill Lynch an individual exemption,
Prohibited Transaction Exemption 90-29, which
generally exempts from the application of
certain of the prohibited transaction
provisions of Section 406 (a) and (b) and
407(a) of ERISA and the excise taxes imposed on
such prohibited transactions by Sections
4975(a) and (b) of the Code and Section 502(i)
of ERISA, transactions relating to the
purchase, sale and holding of pass-through
certificates underwritten by Merrill Lynch and
the servicing and operation of related asset
pools, provided that certain conditions are
satisfied.
The Depositor expects that the Prohibited
Transaction Exemption will generally apply to
the Class A-1, Class A-2, Class A-3, Class A-PO
and Class IO Certificates, but it will not
apply to the other Classes of Offered
Certificates. ACCORDINGLY, EXCEPT AS DESCRIBED
HEREIN, THE CLASS B, CLASS C, CLASS D AND CLASS
E CERTIFICATES MAY NOT BE ACQUIRED BY A PLAN OR
ANY INVESTOR HOLDING ASSETS OF A PLAN.
Purchasers using insurance company general
account funds to effect such purchase should
consider the availability of Prohibited
Transaction Class Exemption 95-60 issued by the
U.S. Department of Labor. See "ERISA
CONSIDERATIONS" herein and in the Prospectus.
Ratings ................... It is a condition of their issuance that the
Class A-1, Class A-2, Class A-3, Class A-PO,
Class B, Class C, Class D, Class E and Class IO
S-26
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<PAGE>
Certificates receive the ratings from Moody's
Investors Service, Inc. ( "Moody's ") and,
except with respect to the Class A-PO
Certificates, from Standard & Poor's Ratings
Services, a division of The McGraw-Hill
Companies, Inc. ( "Standard & Poor's" and
together with Moody's, the "Rating Agencies "),
set forth on the cover page of this Prospectus
Supplement. The ratings on the Offered
Certificates address the likelihood of the
timely receipt by holders thereof (other than
holders of the Class A-PO Certificates, which
do not entitle the holders thereof to
distributions of interest) of all distributions
of interest to which they are entitled and,
except in the case of each Class of the Class
IO Certificates, distributions of principal
sufficient to reduce the Certificate Balance of
each Class of Offered Certificates to zero by
the Rated Final Distribution Date, which is the
first Distribution Date that follows the second
anniversary of the end of the amortization term
for the Mortgage Loan that, as of the Cut-Off
Date, has the longest remaining amortization
term. A security rating is not a recommendation
to buy, sell or hold securities and may be
subject to revision or withdrawal at any time
by the assigning rating organization. A
security rating does not represent any
assessment of (i) the likelihood or frequency
of principal prepayments on the Mortgage Loans,
(ii) the degree to which such prepayments might
differ from those originally anticipated or
(iii) whether and to what extent Prepayment
Premiums and Net Default Interest will be
received. Also, a security rating does not
represent any assessment of the yield to
maturity that investors may experience, the
possibility that the holders of the Class IO
Certificates might not fully recover their
investment in the event of rapid prepayments of
the Mortgage Loans (including both voluntary
and involuntary prepayments) or the possibility
that the holders of the Class A-PO Certificates
may receive a lower than expected yield in the
event of a slower than expected rate of
principal payments and prepayments on the
Mortgage Loans, particularly the Discount
Mortgage Loans (including both voluntary and
involuntary prepayments). See "RATINGS" herein
and "RISK FACTORS--Limited Nature of Ratings"
in the Prospectus.
Legal Investment .......... Any Offered Certificates rated in the category of
"AAA" or "AA" (or the equivalent) by at least
one Rating Agency will constitute "mortgage
related securities" pursuant to the Secondary
Mortgage Market Enhancement Act of 1984, as
amended ("SMMEA"). However, no representation
can be made as to whether any of the Offered
Certificates will constitute "commercial
mortgage related securities" and thus as "Type
IV securities" for purposes of the legal
investment authority of depository
institutions. All other Offered Certificates
("Non-SMMEA Certificates") will not constitute
"mortgage related securities" for purposes of
SMMEA. As a result, the appropriate
characterization of the Non-SMMEA Certificates
under various legal investment restrictions,
and thus the ability of investors subject to
these restrictions to purchase the Non-SMMEA
Certificates of any Class, may be subject to
significant interpretative
S-27
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<PAGE>
uncertainties. In addition, institutions whose
investment activities are subject to review by
federal or state regulatory authorities may be
or may become subject to restrictions on the
investment by such institutions in certain
forms of mortgage backed securities. Investors
should consult their own legal advisors to
determine whether and to what extent the
Offered Certificates constitute legal
investments for them. See "LEGAL INVESTMENT"
herein and in the Prospectus.
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RISK FACTORS
Prospective purchasers of the Offered Certificates of any Class should
consider, among other things, the following risk factors (as well as the risk
factors set forth under "RISK FACTORS" in the Prospectus) in connection with an
investment therein. Additional risk factors are set forth elsewhere in this
Prospectus Supplement under separate headings in connection with discussions
regarding particular aspects of the assets of the Trust Fund or the Offered
Certificates.
THE CERTIFICATES
Limited Liquidity. There is currently no secondary market for the Offered
Certificates. While each of the Underwriters currently intends to make a
secondary market in the Offered Certificates, none is under any obligation to do
so. Accordingly, there can be no assurance that a secondary market for the
Offered Certificates will develop. Moreover, if a secondary market does develop,
there can be no assurance that it will provide holders of the Offered
Certificates with liquidity of investment or that it will continue for the life
of the Offered Certificates. Any such secondary market may provide less
liquidity to investors than any comparable market for securities that evidence,
for example, interests solely in single-family mortgage loans. The Certificates
will not be listed on any securities exchange.
Certain Yield and Maturity Considerations. The yield on any Offered
Certificate that is purchased at a discount or premium will be affected by (i)
the rate and timing of principal payments and collections on the Mortgage Loans,
particularly unscheduled payments or collections in the form of voluntary
prepayments of principal or unscheduled recoveries of principal due to defaults,
casualties or condemnations whether before or after the scheduled maturity date
of the related Mortgage Loans and prepayments following defaults under the
Construction Loans, and (ii) the order of priority of distributions of principal
in respect of the Certificates. The rate and timing of unscheduled payments and
collections of principal on the Mortgage Loans is impossible to accurately
predict and will be affected by a variety of factors, including, without
limitation, the level of prevailing interest rates, restrictions on voluntary
prepayments contained in the promissory notes (the "Mortgage Notes") the
availability of mortgage credit and other economic, demographic, geographic,
tax, legal factors and, with respect to the Construction Loans, construction not
being completed in a timely manner. In general, however, if prevailing interest
rates fall significantly below the Mortgage Rates on the Mortgage Notes,
borrowers under the Mortgage Loans will have an increased incentive to prepay.
As described herein, the Principal Distribution Amount, for each Distribution
Date (other than amounts distributed in respect of the Class A-PO Certificates)
will be distributable entirely in reduction of the Certificate Balance of the
Class A-1 Certificates until the Certificate Balance thereof is reduced to zero
and will thereafter be distributable in its entirety in respect of each
remaining Class of Certificates (except for the Class A-PO and Class IO
Certificates), sequentially in alphabetical and numerical order of Class
designation, until the Certificate Balance of each such Class is, in turn,
reduced to zero. See "DESCRIPTION OF THE
CERTIFICATES--Distributions--Application of Available Distribution Amount"
herein. Accordingly, the actual rate of principal payments on the Mortgage Loans
may have different effects on the yields of the respective Classes of Offered
Certificates. The yield on the Class A-PO Certificates will be extremely
sensitive to the rate and timing of principal distributions on the Mortgage
Loans, particularly the Discount Mortgage Loans, and the slower the rate at
which the Certificate Balance of the Class A-PO Certificates is reduced, the
greater will be the negative effect on the yield of the Class A-PO Certificates.
Any payment of principal in reduction of the Certificate Balance of any Class of
Sequential Pay Certificates will result in a corresponding reduction in the
notional amount of the related Component. Thus, the yield on the Class IO
Certificates will be extremely sensitive to the rate and timing of principal
payments on the Mortgage Loans, and the faster the rate at which the notional
amounts of the Components are reduced, the greater will be the negative effect
on the yield of the Class IO Certificates, to the extent such effect is not
offset by distributions of a portion of any applicable Prepayment Premiums to
the holders thereof, as described under "DESCRIPTION OF THE CERTIFICATES
- --Distributions--Allocation of Prepayment Premiums" herein. In addition, the
Mortgage Loans may not require the payment of Prepayment Premiums in the event
of involuntary prepayments resulting from casualty or condemnation. Accordingly,
prospective investors in the Class IO Certificates and the Class A-PO
Certificates should consider the associated risks, including, with respect to
the Class IO Certificates, the risk that a rapid rate of prepayments on the
Mortgage Loans could result in the failure of such investors to fully recoup
their initial investments, and with respect to the Class A-PO Certificates, the
risk that a slower than expected rate of principal payments and prepayments on
the Mortgage Loans, particularly the Discount Mortgage Loans, could result in a
lower than expected yield on the Class A-PO Certificates.
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The yield on any Offered Certificate also will be affected by the rate and
timing of losses attributable to defaults on the Mortgage Loans, the severity of
such losses and the extent to which such losses and related expenses are applied
in reduction of the actual or notional principal amount of such Certificate or
otherwise reduce the amount of funds available for distribution to the holder of
such Certificate. To the extent described herein, the Private Certificates are
subordinate in right and time of payment to the Offered Certificates and will
bear shortfalls in collections and losses incurred in respect of the Mortgage
Loans prior to the Offered Certificates; and the Class B, Class C, Class D and
Class E Certificates are subordinate in right and time of payment to the Class
A-1, Class A-2, Class A-3, Class A-PO and Class IO Certificates and will bear
such shortfalls in collections and losses prior to the Class A-1, Class A-2,
Class A-3, Class A-PO and Class IO Certificates, in reverse alphabetical order
of Class designation. Even though (i) the Class A-3 Certificates will receive
principal payments only after the Certificate Balances of the Class A-2 and
Class A-1 Certificates have been reduced to zero and (ii) the Class A-2
Certificates will receive principal payment only after the Certificate Balance
of the Class A-1 Certificates has been reduced to zero, the Class A-1, Class A-2
and Class A-3 Certificates will bear shortfalls in collections and losses
incurred in respect of the Mortgage Loans pro rata in proportion to their
outstanding Certificate Balances. On each Distribution Date, following all
distributions on the Certificates to be made on such date, the aggregate of all
Realized Losses and Additional Trust Fund Expenses that have been incurred since
the Cut-Off Date through the end of the related Collection Period and that have
not previously been allocated to the Certificates will be allocated, subject to
the limitations described herein, first to the Private Certificates in the order
described in the Pooling and Servicing Agreement, and then to the Class E, Class
D, Class C and Class B Certificates, in that order, until the Certificate
Balance of each such Class has been reduced to zero. Thereafter any additional
Realized Losses will be allocated to the Class A-1, Class A-2 and Class A-3
Certificates, pro rata in proportion to their outstanding Certificate Balances;
provided that if a Realized Loss otherwise allocable to the Class A-1, Class A-2
and Class A-3 Certificates occurs with respect to a Discount Mortgage Loan, an
amount equal to the product of the Class A-PO Fraction and the amount of such
loss shall be allocated to the Class A-PO Certificates and the remainder shall
be allocated pro rata to the Class A-1, Class A-2 and Class A-3 Certificates and
any Additional Trust Fund Expenses will be allocated to the Class A-1, Class
A-2, Class A-3 and Class A-PO Certificates, pro rata, in proportion to their
outstanding Certificate Balances. Any Realized Losses or Additional Trust Fund
Expenses allocated to a Class or Classes of Certificates will reduce their
respective Certificate Balances as of the related Distribution Date, but in the
aggregate only to the extent that the aggregate Certificate Balance of such
Classes of Certificates remaining outstanding after giving effect to the
distributions on such Distribution Date exceeds the aggregate Stated Principal
Balance of the Mortgage Pool that will be outstanding immediately following such
Distribution Date. See "DESCRIPTION OF THE CERTIFICATES--Subordination;
Allocation of Losses and Certain Expenses" herein. Any Realized Losses or
Additional Trust Fund Expenses allocated in reduction of the Certificate Balance
of any Class of Sequential Pay Certificates will also result in a corresponding
reduction in the notional amount of the related Component. See "DESCRIPTION OF
THE CERTIFICATES--Distributions" and "--Subordination; Allocation of Losses and
Certain Expenses" herein and "YIELD AND MATURITY CONSIDERATIONS" herein and in
the Prospectus.
The Strip Rate applicable to the Class A-1, Class A-2, Class A-3, Class B,
Class C, Class D and Class E Components for each Distribution Date will equal
the Weighted Average Net Mortgage Rate minus 6.31%, 6.48%, 6.72%, 6.75%, 6.75%,
6.75% and 6.75%, respectively, (but not less than zero) and the Strip Rate
applicable to the Class F, Class G, Class H, Class J and Class K Component for
each Distribution Date will each equal the Weighted Average Net Mortgage Rate
minus 6.25% (but not less than zero). Accordingly, the Strip Rate on such
Components and, correspondingly, the yield on the Class IO Certificates, will be
sensitive to changes in the relative composition of the Mortgage Pool as a
result of scheduled amortization, voluntary and involuntary prepayments and
liquidations. See "DESCRIPTION OF THE CERTIFICATES--Distributions" and
"--Subordination; Allocation of Losses and Certain Expenses" herein and "YIELD
AND MATURITY CONSIDERATIONS" herein and in the Prospectus.
Potential Conflicts of Interest. One or more affiliates of the initial
Special Servicer may purchase all of the Class G, Class H, Class J and Class K
Certificates shortly after the Closing Date. Subject to certain conditions
described herein, the Pooling and Servicing Agreement will permit the
Controlling Class of Sequential Certificates to replace the Special Servicer or
any successor thereafter appointed and to select the Controlling Class
Representative from whom the Special Servicer will seek advice and approval and
take direction under certain circumstances, as described herein. The replacement
Special Servicer may be a Certificateholder of such Class or an affiliate of any
such Certificateholder. As described herein, the Special Servicer will have
considerable latitude in determining whether to liquidate or modify defaulted
Mortgage Loans. See "SERVICING OF THE MORTGAGE LOANS--Modifications,
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<PAGE>
Waivers and Amendments" herein. Although the initial Special Servicer will be
obligated to observe the terms of the Pooling and Servicing Agreement and will
be governed by the servicing standard described herein, it may, especially if it
is, or is an affiliate of a Certificateholder, have interests when dealing with
defaulted Mortgage Loans that are in conflict with those of holders of other
Classes of Offered Certificates. For instance, a Special Servicer that is a
Certificateholder could seek to mitigate the potential for loss to its Class
from a troubled Mortgage Loan by deferring enforcement in the hope of maximizing
future proceeds. However, such action could result in less proceeds to the Trust
Fund than would have been realized if earlier action had been taken. To the
extent a Controlling Class Representative has been elected with respect to any
Specially Serviced Mortgage Loans, the Special Servicer may, at the direction of
the Controlling Class Representative, take actions with respect to such
Specially Serviced Mortgage Loans that could adversely affect the holders of
some or all of the Classes of Offered Certificates. See "SERVICING OF THE
MORTGAGE LOANS--The Special Servicer" herein.
Risks of Year 2000. The transition from the year 1999 to the year 2000 may
disrupt the ability of computerized systems to process information. The Master
Servicer and the Trustee are currently modifying their computer systems and
applications such that they will be year 2000-compliant by August 31, 1999. If
the Master Servicer or the Trustee is unable to complete such modifications by
the year 2000, the ability of the Master Servicer or Trustee to service the
Mortgage Loans and make distributions to the Certificateholders, respectively,
may be materially and adversely affected.
THE MORTGAGE LOANS
Risks of Lending on Credit Lease Loans. Each Mortgaged Property consists of
income-producing real estate leased entirely to a Tenant occupying all or
substantially all of the related Mortgaged Property. In some instances, the
Credit Leases are guaranteed by the parent or another affiliate of the Tenant
(each, a "Guarantor"). Each borrower is an entity created solely to own, operate
and lease the related Mortgaged Property (or, in certain instances, multiple
Mortgaged Properties are owned by the same borrower and secured by Mortgage
Loans with the same Tenant). As a result, the borrowers do not have any material
assets other than those related to its interest in such Mortgaged Property (or
Mortgaged Properties) and pledged to the Trustee for the benefit of the
Certificateholders. Consequently, debt service payments on the Mortgage Loans
(including any Tenant Balloon Payments), and the resulting payments to the
Certificateholders of the principal of and interest on the Certificates, depend
principally on the payments made by the respective Tenants or Guarantors under
each Credit Lease. In the event of the rejection of a Credit Lease by a Tenant
in bankruptcy or possibly upon an event of default by a Tenant and any
Guarantor, the related Mortgaged Property is likely to be 100% vacant,
generating no cash flow to service payments on the related Mortgage Loan until
such Mortgaged Property is re-leased. If a Tenant or Guarantor defaults in its
respective obligation to make the Rental Payments under the related Credit Lease
or Guaranty, the borrower may be unable to make the required debt service
payments with respect to the related Mortgage Loan. Even if the related
Mortgaged Property is re-let, not only would the rental payments generated by
re-leasing the related Mortgaged Property likely be substantially less than the
Rental Payments due under the Credit Lease, but the borrower would also incur
expenses related to maintaining and re-leasing or selling the related Mortgaged
Property. Moreover, if a payment default on any related Mortgage Loan occurs,
then, subject to limitations imposed on the Servicer and Trustee by the related
borrower's bankruptcy or insolvency or other similar laws affecting the
enforcement of creditors' rights generally, the Special Servicer may be entitled
to foreclose upon or otherwise realize upon the related Mortgaged Property to
recover amounts due under the Mortgage Loan and will also be entitled to pursue
any available remedies against the defaulting Tenant and any Guarantor. See
"DESCRIPTION OF THE MORTGAGE POOL--Credit Leases," and "--Risks of Lending on
Income-Producing Properties Generally," "--Lessee Bankruptcy," "Risks Associated
With Appraised Values of the Mortgaged Properties" and "--Nonrecourse
Obligations."
Risks Associated With Appraised Values of the Mortgaged Properties. In
connection with the origination thereof, all of the Mortgage Loans were
appraised or reviewed by a state certified appraiser or an appraiser belonging
to the Appraisal Institute. Each appraisal determined a value of the related
Mortgaged Property taking into account the existence of the related Credit Lease
(the "Origination Leased Fee Value"). The Origination Leased Fee Value (i)
assumes that the related Tenant (or Guarantor) performs each of its obligations
under the Credit Lease, including paying each Rental Payment during the base
term of such Credit Lease and (ii) is calculated based on either the value of
the stream of Rental Payments, discounted at a rate based upon the Tenant's (or
Guarantor's) credit strength and generally a substantially discounted residual
value or based upon a direct capitalization rate methodology taking into account
the Tenants' (or Guarantors') credit strength. The related Mortgage Loan
generally was originated in an
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<PAGE>
amount which would produce an Origination Leased Fee Value ranging from 90% to
100%, and the weighted average Origination Leased Fee Value of the Mortgage
Loans as of the Cut-Off Date was 96.3%. In the event of a default by the Tenant
and Guarantor, if any, of their obligations under a Credit Lease and
particularly in the event such Credit Lease is rejected by the Tenant in
connection with a bankruptcy proceeding, the fair market value of the related
Mortgaged Property is likely to be substantially less than the Origination
Leased Fee Value for such Mortgaged Property. See "--Risks of Lending on Credit
Lease Loans" herein. Because the Mortgage Loans were originated with Origination
Leased Fee Values in excess of 90%, in the event such Credit Lease is rejected
by the Tenant in connection with its bankruptcy, it is likely that any
liquidation proceeds realized by the Trustee upon the foreclosure and subsequent
sale of a Mortgaged Property would be substantially less than the outstanding
principal balance of the related Mortgage Loan. The resulting Realized Loss will
be borne by the Certificateholders in accordance with the allocation of Realized
Losses and shortfalls as described herein. See "DESCRIPTION OF THE CERTIFICATES
- --Subordination; Allocation of Losses and Certain Expenses" herein and
"DESCRIPTION OF THE CERTIFICATES--Allocation of Losses and Shortfalls" in the
Prospectus.
Risks Affecting Lease Enhancement Policy Proceeds. With respect to each
Mortgage Loan which is not secured by a Bondable Lease, the Trustee is the
beneficiary of a non-cancelable Lease Enhancement Policy obtained to cover
certain lease termination (and abatement with respect to losses arising out of a
condemnation) events arising out of a casualty to, or condemnation of, the
related Mortgaged Property issued by Chubb Custom Insurance Company (the
"Enhancement Insurer"), which, as of the Cut-Off Date, was rated "AAA" by
Standard & Poor's, "AAA" by Duff & Phelps Credit Rating Co. ("DCR") and "Aa2" by
Moody's. The Lease Enhancement Policy is subject to certain limited exclusions
described herein and does not insure interest on Mortgage Loans for a period of
greater than 75 days past the date of the occurrence of a Casualty or
Condemnation Right (as defined herein). The Enhancement Insurer is not required
to pay amounts due on the related Mortgage Loans, other than principal thereof
and, subject to the limitation above, accrued interest thereon and, therefore,
is not required to pay any Prepayment Premium due thereunder, deliver any
Defeasance Collateral with respect to such Mortgage Loans, or to pay interest
due thereunder or any amounts the related borrower is obligated to pay
thereunder as reimbursement for outstanding P&I Advances. See "DESCRIPTION OF
THE MORTGAGE POOL--Credit Leases--Tenant Lease Termination and Rent Abatement
Rights" and "--Double Net Leases" herein.
Certificateholders may be adversely affected by any failure by the
Enhancement Insurer to pay under the terms of the Lease Enhancement Policies,
and any downgrade of the credit rating of the Enhancement Insurer may adversely
affect the ratings of the Offered Certificates.
Risks Affecting Residual Insurance Policy Proceeds. With respect to each
Mortgage Loan which has an Insured Balloon Payment, the Trustee will be named as
the loss-payee under a related non-cancelable Residual Value Insurance Policy
obtained to cover the Balloon Amount relating to such Mortgaged Property. The
Residual Value Insurance Policy will be issued by R.V.I. America Insurance
Company (the "Residual Value Insurer"), which, as of the Cut-Off Date, had a
claims paying ability of "A" by Standard & Poor's and "AA-" by DCR. The Residual
Value Insurance Policy is subject to certain limited exclusions as set forth
herein under "DESCRIPTION OF THE MORTGAGE POOL--Credit Leases" herein. The
Residual Value Insurance Policy is not required to pay amounts due under the
Mortgage Loan other than the related Balloon Amount and, subject to certain
limitations set forth in the Residual Value Insurance Policy, accrued interest
and, therefore, is not required to pay any Prepayment Premium or interest due
thereunder or any amounts the related borrower may be obligated to pay
thereunder as reimbursement for outstanding P&I Advances to which the Master
Servicer (or Trustee) is entitled. Certificateholders may be adversely affected
by any failure by the Residual Value Insurer to pay under the terms of the
Residual Value Insurance Policies, and any downgrade of the credit rating of the
Residual Value Insurer may adversely affect the ratings of the Offered
Certificates.
Risks Associated with Bankruptcy. If a bankruptcy proceeding is instituted
under Title 11 of the Bankruptcy Code (the "Bankruptcy Code") by or in respect
of a Tenant under a Credit Lease, the Tenant would have the right under the
Bankruptcy Code, subject to bankruptcy court approval, to affirm or reject the
related Credit Lease. Unless the Credit Lease is affirmed by the Tenant, any
unpaid rent for the period before the bankruptcy filing generally cannot be paid
until the conclusion of the bankruptcy proceeding. If the Credit Lease is
rejected, payments due thereunder would terminate, and the borrower may be
unable to make the required debt service payments with respect to the Mortgage
Loan, even if the related Mortgaged Property is re-let.
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<PAGE>
If a Credit Lease is rejected, the related borrower would have a claim for
damages against the Tenant but, under Section 502(b)(6) of the Bankruptcy Code,
such claim would be limited to a maximum amount equal to the rent reserved under
such Credit Lease, without acceleration, for the greater of one year or 15
percent (not to exceed three years) of the remaining term of such Credit Lease
(plus rent already due but unpaid). Therefore, except during the final year of
the term of a Credit Lease, if a Tenant were the subject of proceedings under
the Bankruptcy Code and rejected its Credit Lease, the damages that could be
claimed for rejection, even assuming full recovery on such claim, might not
alone be sufficient to permit the related borrower to make timely payments of
principal of and interest on the related Mortgage Loan. Furthermore, there is a
risk that in a bankruptcy of a Tenant, claims against the Tenant (such as those
in connection with the rejection of a Credit Lease) will receive less than full
payment and may potentially receive no payment. Finally, adverse circumstances
relating to a Tenant or an affiliate thereof and affecting one of the related
Mortgaged Properties could also affect other Mortgaged Properties of the related
Tenant. See "--The Mortgage Loans--Risk of Tenant Concentration" herein.
Pending a decision to assume or reject a Credit Lease, virtually all
actions are stayed upon the filing of the bankruptcy petition, and generally, a
Tenant is not required to make full payments under its Credit Lease, which also
may negatively affect the ability of the related borrower to make timely
payments of principal and interest on the related Mortgage Loan.
In connection with certain of the Credit Leases, affiliates of the Tenant
have executed Lease Guaranties. If a Tenant on a Credit Lease becomes a debtor
under the Bankruptcy Code but the Guarantor is not subject to a bankruptcy
proceeding, the Lease Guaranty should generally not be affected, assuming that
the separate existence of the Guarantor and Tenant is upheld. It is possible,
however, that the automatic stay imposed under the Bankruptcy Code may, under
certain circumstances, be extended to cover a Guarantor. Assuming no stay is in
place with respect to a Guarantor, payments under the Lease Guaranty may thus be
available to pay the Tenant's rental obligation, although the issue of
limitations on payments under a Lease Guaranty where the Tenant is in
bankruptcy, but not the Guarantor, is not entirely free from doubt. If the
Guarantor was also the subject of proceedings under the Bankruptcy Code and the
Credit Lease were rejected, the claim under the Lease Guaranty may also be
subject to the limitations described above.
Risks of Lending on Income-Producing Properties Generally. The Mortgaged
Properties consist entirely of income-producing real estate. Lending on the
security of income-producing real estate is generally viewed as exposing a
lender to a greater risk of loss than lending on the security of single-family
residences. Income property lending typically involves larger loans than
single-family lending. In addition, and unlike loans made on the security of
single-family residences, repayment of loans made on the security of
income-producing real property depends upon the ability of the related real
estate project (i) to generate rental income sufficient to pay operating
expenses and leasing commissions, to make necessary repairs, tenant improvements
and capital improvements and to pay debt service and (ii) in the case of loans
that do not fully amortize over their terms, to retain sufficient value to
permit the borrower to repay the loan at maturity by sale or refinancing. A
number of factors, many beyond the control of the property owner, can affect the
ability of an income-producing real estate project to generate sufficient net
operating income to pay debt service and/or to maintain its value. Among these
factors are economic conditions generally and in the area of the project, the
age, quality and design of the project and the degree to which it competes with
other projects in the area, changes or continued weakness in specific industry
segments, increases in operating costs, the willingness and ability of the owner
to provide capable property management and maintenance. See "RISK FACTORS" in
the Prospectus.
Risk of Tenant or Guarantor Rating. The credit ratings of a Tenant or
Guarantor by the various rating agencies set forth herein have been obtained
from public sources and only represent the credit ratings of the rating agencies
presented as of the date hereof. None of the Depositor, the Underwriters or the
Mortgage Loan Seller makes any representations with respect to any Tenant or
Guarantor rating not set forth herein or of the rating of any Tenant or
Guarantor which does not have a publicly available rating. Any credit rating set
forth herein is subject to being downgraded at any time by the applicable rating
agency, particularly if such Tenant or Guarantor is listed on such rating
agency's "Review," "CreditWatch" or similar list. A downgrade in the credit
rating of the Tenant and/or the Guarantor may have a related adverse effect on
the rating of the Offered Certificates.
Risks Associated with Construction Loans. Five (5) Mortgage Loans (18.58%)
are Construction Loans. See "DESCRIPTION OF THE MORTGAGE POOL--Construction
Loans" herein. As with all of the Mortgage Loans,
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the Construction Loans involve risks associated generally with real estate
lending. See "--Risks of Lending on Income-Producing Properties" herein. In
addition, Certificateholders should consider the added risks associated with
construction lending, including the risk that construction will not be completed
within the projected budget, in a timely manner, or in accordance with approved
plans and specifications, in the event the related Tenants default under the
related Credit Leases (in the case of the four Construction Loans which are
secured by Bondable Leases) or Fleet National Bank fails to honor a draw against
its Letter of Credit (in the case of the Construction Loan not secured by a
Bondable Lease). In addition, if construction is not completed by the
Construction Default Date (as defined herein), the related Construction Loan may
be prepaid, resulting in a prepayment on the Sequential Pay Certificates. Such
prepayment would also reduce the notional amounts of the Components and
accordingly will have a material adverse effect on the yield of the Class IO
Certificates, which may not be offset by any Prepayment Premium paid in
connection with such prepayment. See "--Certain Yield and Maturity
Consideration" and "DESCRIPTION OF THE MORTGAGE POOL--Credit
Leases--Construction Loans" herein.
Environmental Law Considerations. Contamination of real property may give
rise to a lien senior to the lien of the related mortgage on that property to
assure payment of the cost of clean-up or, in certain circumstances, may result
in liability to the lender as an "owner" or "operator" to pay the cost of
remediating the environmental condition, a risk increased substantially on
foreclosure of the related Mortgaged Property. Such contamination may also
reduce the value of a property. With respect to each Mortgage Loan which is
secured, in part, by an assignment of a Bondable Lease, the related Tenant is
responsible for the environmental conditions of the related Mortgaged Property
and the payment of the cost of clean-up as required by applicable law. With
respect to each Mortgage Loan which is secured, in part, by an assignment of a
Triple Net Lease or Double Net Lease, payment of the cost of clean up may reduce
funds available to pay debt service. A "Phase I" environmental site assessment
was performed at each of the Mortgaged Properties and in certain cases,
additional environmental testing, as recommended by such "Phase I" assessment,
was performed. See "DESCRIPTION OF THE MORTGAGE POOL--Assessments of Property
Conditions and Environmental and Engineering Assessments" herein.
The Pooling and Servicing Agreement requires that the Special Servicer
obtain an environmental site assessment of a Mortgaged Property prior to taking
possession of the property through foreclosure or otherwise or assuming control
of its operation. Such requirement effectively precludes enforcement of the
security for the related Mortgage Note until a satisfactory environmental site
assessment is obtained (or until any required remedial action is thereafter
taken), which is intended to decrease the likelihood that the Trust Fund will
become liable for a material adverse environmental condition at the Mortgaged
Property. However, there are no assurances that the requirements of the Pooling
and Servicing Agreement will effectively insulate the Trust Fund from potential
liability for a materially adverse environmental condition at any Mortgaged
Property. See "DESCRIPTION OF THE POOLING AGREEMENTS--Realization Upon Defaulted
Mortgage Loans", "RISK FACTORS--Environmental Risks" and "CERTAIN LEGAL ASPECTS
OF MORTGAGE LOANS--Environmental Considerations" in the Prospectus.
Risk of Subordinated Debt and Other Financing. Generally, the Mortgage
Loans may permit the related borrower to further encumber its Mortgaged Property
upon satisfaction of certain conditions precedent, including the requirements
that (i) no debt service payments or other payments shall be required under such
subordinate debt while the Mortgage Loan remains outstanding, (ii) the
subordinate loan shall only be payable on or after the maturity date of the
related Mortgage Loan, and (iii) the Trustee shall have received written
confirmation from the Rating Agencies rating the Offered Certificates that such
further encumbrance will not result in a negative rating action with respect to
the Offered Certificates. In the event a borrower (or the Residual Value
Insurer) fails to pay a Balloon Payment, the existence of secured subordinated
debt encumbering any Mortgaged Property securing a Balloon Loan may increase the
difficulty of refinancing such Balloon Loan at maturity and the possibility that
reduced cash flow could result in deferred maintenance on the Mortgaged
Property. Also, in the event that the holder of the subordinated debt has filed
for bankruptcy or been placed in involuntary receivership, foreclosure by any
senior lienholder (including the Trust Fund) on the Mortgaged Property could be
delayed.
Risk of Tenant Concentration. Eighty-seven (87) Mortgage Loans (76.04%) are
secured, in part, by Credit Leases to one of eight unrelated Tenants (or
Guarantors), each securing Mortgage Loans (or groups of Mortgage Loans) which
represent more than 5% of the Initial Pool Balance. Three separate groups of
Mortgage Loans are respectively secured in part by Credit Leases to Rite Aid
Corporation, Allegheny General Hospital and Circuit City Stores, Inc.,
representing 18.30%, 15.87% and 10.70% of the Initial Pool Balance,
respectively. See "DESCRIPTION OF THE MORTGAGE POOL--Largest of Affiliated
Tenants/Guarantors" herein. In such
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circumstances, any adverse circumstances relating to a Tenant, Guarantor or an
affiliate thereof and affecting one of the related Mortgage Loans or Mortgaged
Properties could also affect other Mortgage Loans or Mortgaged Properties
subject to a Credit Lease of such Tenant or Guarantor. In particular, the
bankruptcy or insolvency of any such Tenant or Guarantor could have an adverse
effect on the operation of all of the Mortgaged Properties subject to a Credit
Lease of that Tenant or Guarantor and on the ability of such related Mortgaged
Properties to produce sufficient cash flow to make required payments on the
Mortgage Loans.
Risk of Geographic Concentration of Properties. Forty-four (44) Mortgaged
Properties (25.06%) are located in Pennsylvania. In general, such concentrations
increase the exposure of the Mortgaged Properties to any adverse economic or
other developments that may occur in Pennsylvania.
Risks of Different Timing of Mortgage Loan Amortization. If and as
principal payments, property releases, or prepayments are made on a Mortgage
Loan, the remaining Mortgage Pool may be subject to more concentrated risk with
respect to the diversity of Tenants, of properties, types of properties and
property characteristics and with respect to the number of borrowers. See each
table entitled "Stated Remaining Terms" under "DESCRIPTION OF THE MORTGAGE
POOL--Additional Mortgage Loan Information" herein for a description of the
respective maturity dates of the Mortgage Loans. Because principal on the
Offered Certificates (other than the Class IO Certificates) is payable in
sequential order to the extent described herein under "DESCRIPTION OF
CERTIFICATES--Distributions." Classes that have a lower priority of
distributions are more likely to be exposed to the risk of concentration
discussed under "--Risks of Concentration of Mortgage Loans" above than classes
with a higher sequential priority.
Ground Leases and Other Leasehold Interests. Twenty (20) Mortgage Loans
(28.76%) are secured in whole by liens on the related Tenants' leasehold estate
and interests therein. Pursuant to Section 365(h) of the Bankruptcy Code, ground
lessees are currently afforded rights not to treat a ground lease as terminated
and to remain in possession of their leased premises upon the bankruptcy of
their ground lessor and the rejection of the ground lease by the representative
of such ground lessor's bankruptcy estate. The leasehold mortgages provide that
the borrower may not elect to treat the ground lease as terminated on account of
any such bankruptcy of, and rejection by, the ground lessor without the prior
approval of the holder of the Mortgage Note. In the event of a bankruptcy of a
ground lessee/borrower, the ground lessee/borrower under the protection of the
Bankruptcy Code has the right to assume (continue) or reject (terminate) any or
all of its ground leases. In the event of concurrent bankruptcy proceedings
involving the ground lessor and the ground lessee/borrower, the Trustee may be
unable to enforce the bankrupt ground lessee/borrower's obligation to refuse to
treat a ground lease rejected by a bankrupt ground lessor as terminated. In such
circumstances, a ground lease could be terminated notwithstanding lender
protection provisions contained therein or in the related Mortgage.
Nonrecourse Obligations. The Mortgage Loans are generally non-recourse
obligations of the respective borrowers, and upon any such borrower's default in
the payment of any amount due under the related Mortgage Loan, the holder
thereof may look only to the related Mortgaged Property including the assignment
of the Credit Lease and the Lease Guaranty, if any, for satisfaction of the
borrower's obligations. In addition, in those cases where recourse to a borrower
or guarantor is purportedly permitted, no one has undertaken an evaluation of
the financial condition of any such person, and prospective investors should
thus consider all of the Mortgage Loans to be nonrecourse with respect to the
borrower. No payments due under any Mortgage Loan are insured or guaranteed by
any governmental entity or private insurer, except with respect to any Insured
Balloon Payments and any payments made under any Lease Enhancement Policy.
Mortgage Loan Seller. The Mortgage Loan Seller will be the sole warranting
party in respect of the Mortgage Loans sold to the Depositor, and neither the
Depositor nor any of its affiliates will be obligated to repurchase any Mortgage
Loan in connection with either a breach of the Mortgage Loan Seller's
representations and warranties or any document defects, if the Mortgage Loan
Seller defaults on its obligation to do so. There can be no assurance that the
Mortgage Loan Seller will have the financial ability to effect such repurchases.
See "DESCRIPTION OF THE MORTGAGE POOL--Assignment of the Mortgage Loans;
Repurchases" and "--Representations and Warranties; Repurchases" herein and
"DESCRIPTION OF THE POOLING AGREEMENTS--Representations and Warranties;
Repurchases" in the Prospectus.
S-35
<PAGE>
DESCRIPTION OF THE MORTGAGE POOL
GENERAL
The Mortgage Pool is expected to consist of 105 fixed rate Mortgage Loans
which are secured by first liens on 142 commercial properties with an aggregate
Cut-Off Date Balance of $646,080,530 (the "Initial Pool Balance"). The Cut-Off
Date Balances of the Mortgage Loans will range from $800,157 to $67,170,088, and
the Mortgage Loans will have an average Cut-Off Date Balance of $6,153,148. All
loan balances and percentages are subject to a variance of plus or minus 5%. The
"Cut-Off Date Balance" of any Mortgage Loan will equal the unpaid principal
balance thereof as of the Cut-Off Date, after reduction for all payments of
principal due on or before such date, whether or not received. All of the
Mortgage Loans were underwritten based upon the credit rating of the related
Tenants or Guarantors (each as defined herein). All percentages referred to
herein without further description are approximate percentages by Initial Pool
Balance. References to percentages of Mortgaged Properties are references to the
percentages of the Initial Pool Balance represented by the portion of the
Cut-Off Date Balance of the related Mortgage Loans represented by such Mortgaged
Properties.
All of the Mortgage Loans are generally non-recourse obligations of the
respective borrowers. No payments due under any Mortgage Loan will be insured or
guaranteed by any governmental entity or private insurer, except with respect to
any Insured Balloon Payments and any payments made under any Lease Enhancement
Policy.
Each Mortgage Loan is secured by a first mortgage lien on the borrower's
fee simple estate (except as set forth below) in one or more income producing
real properties (each, a "Mortgaged Property"). Thirteen (13) of the Mortgage
Loans (15.97%) are secured by first mortgage liens on the borrower's respective
leasehold estate and the fee simple estate under such Mortgaged Property. Seven
(7) of the Mortgage Loans (12.79%) are secured by a first mortgage lien on the
borrower's leasehold estate in the Mortgaged Property.
The Depositor will acquire all of the Mortgage Loans from the Mortgage Loan
Seller on the Closing Date. The Mortgage Loan Seller acquired all but one of the
Mortgage Loans from Legg Mason Mortgage Capital Corporation ("LMMCC") an
affiliate of Legg Mason Wood Walker, Incorporated, one of the Underwriters. Ten
(10) Mortgage Loans (14.55%) were originated or acquired in secondary
transactions in 1996, eighty-two (82) Mortgage Loans (61.87%) in 1997 and
thirteen (13) Mortgage Loans (23.59%) in 1998, respectively. See "--Underwriting
Criteria" herein.
None of the Mortgage Loans will be 30 days or more delinquent as of the
Cut-Off Date.
CREDIT LEASES
Each Mortgaged Property is subject to a lease (a "Credit Lease") to a
single tenant (each a "Tenant" and, collectively, the "Tenants") which meets (or
whose parent or affiliate which guarantees the Credit Lease obligation meets)
the credit criteria of the originator of such Mortgage Loan. Ratings for certain
of the Tenants are not published and are, therefore, not disclosed herein. See
"--Underwriting Criteria" herein. The payment of interest and principal on all
of the Mortgage Loans is dependent principally on the payment by each Tenant or
guarantor of the Tenant's Credit Lease pursuant to a guaranty, (a "Lease
Guaranty"), if any, of rent payments ("Rental Payments") due under the terms of
such Credit Lease.
Each Credit Lease has a primary lease term (the "Primary Term") that
expires on or after the scheduled final maturity date of the related Mortgage
Loan, except with respect to certain Mortgage Loans, the Rental Payments of
which are due in the calendar month prior to the related Due Date for the
Periodic Payment. The Mortgage Loans are scheduled to be fully repaid from (i)
Rental Payments made over the Primary Term of the related Credit Lease and (ii)
with respect to any Mortgage Loans which are Balloon Loans, Rental Payments and
the related Balloon Payments (which Balloon Payments, in the case of Mortgage
Loans which have the benefit of Residual Value Insurance Policies, may be repaid
from amounts paid by the related insurer pursuant to such policies).
Each Mortgage Loan is secured in part by an absolute or collateral
assignment of the Credit Lease (a "Credit Lease Assignment"), pursuant to which
the related borrower has assigned to the mortgagee of such Mortgage Loan, as
additional security, such borrower's rights under the related Credit Lease and
such borrower's rights to income and profits to be derived for the operation and
leasing of the related Mortgaged Property, including but not limited to an
assignment of the Lease Guaranty, if applicable, and an assignment of the right
to receive all Rental Payments due under the Credit Lease. The related Tenant is
obligated under its Credit Lease Assignment to make all Rental
S-36
<PAGE>
Payments directly to the mortgagee or its designee. Repayment of the Mortgage
Loans and other obligations of the borrowers are expected to be funded from such
Rental Payments and, with respect to Insured Balloon Payments, from Residual
Value Insurance.
Balloon Loans. Sixty-four (64) Mortgage Loans (74.61%) are Fully Amortizing
Loans and forty-one (41) Mortgage Loans (25.39%) are Balloon Loans. Thirty-eight
(38) Mortgage Loans (20.11%) have a Balloon Payment which is insured (an
"Insured Balloon Payment") through a Residual Value Insurance Policy. With
respect to three (3) Mortgage Loans (5.27%), the related Tenant is obligated to
make a rent payment corresponding to such Balloon Payment (a "Tenant Balloon
Payment"). If a default occurs under such Balloon Loans with respect to an
Insured Balloon Payment and no recovery is available from the related borrower,
the Tenant or any Guarantor, the Special Servicer will be entitled to recover in
full the amount of the Balloon Payment due under such Mortgage Loan through the
Residual Value Insurance Policy after the maturity date for such Mortgage Loan.
All Balloon Loans require either an Insured Balloon Payment or a Tenant Balloon
Payment. In the event a Residual Value Insurer defaults on an Insured Balloon
Payment, the Special Servicer will still be able to assert whatever other
remedies it has with respect to the related Mortgaged Property and the Residual
Value Insurer. See "RISK FACTORS--The Mortgage Loans--Risks of Lending on
Income-Producing Properties Generally" herein.
Residual Insurance Policy. With respect to each Mortgage Loan which has an
Insured Balloon Payment, the Trustee will be named as the loss-payee under a
related non-cancelable Residual Value Insurance Policy obtained to cover the
Balloon Amount relating to such Mortgaged Property. The Residual Value Insurance
Policy will be issued by R.V.I. America Insurance Company (the "Residual Value
Insurer"), which, as of the Cut-Off Date, had a claims paying ability of "A" by
Standard & Poor's and "AA-" by DCR. The Residual Value Insurance Policy is
subject to certain limited exclusions. The Residual Value Insurance Policy is
not required to pay amounts due under the Mortgage Loan other than the related
Balloon Amount and, subject to certain limitations set forth in the Residual
Value Insurance Policy, accrued interest, and therefore is not required to pay
any Prepayment Premium or interest due thereunder or any amounts the related
borrower may be obligated to pay thereunder as reimbursement for outstanding P&I
Advances.
Each Credit Lease generally provides that the related Tenant must pay all
real property taxes and assessments levied or assessed against the related
Mortgaged Property, and except as discussed below in the case of certain of the
Double Net Leases, all charges for maintenance, insurance and other operating
expenses incurred in connection with the operation of the related Mortgaged
Property.
Generally, each Mortgage Loan provides that if the Tenant defaults beyond
applicable notice and grace periods in the performance of any covenant or
agreement in such Credit Lease (a "Credit Lease Default"), then the holder of
the related Mortgage may, subsequent to any applicable notice, grace and cure
periods under such Mortgage Loan, require the related borrower either to (i)
terminate such Credit Lease, (ii) exercise its other remedies, or (iii) refrain
from the exercise of any of its rights under such Credit Lease.
In addition, most of the Credit Leases permit the Tenant, at its own
expense, and generally with the consent of the borrower, to make such
alterations or improvements on the related Mortgaged Property as the Tenant may
deem necessary or desirable. Such actions, if undertaken by the Tenant, will not
affect the Tenant's obligations under the Credit Lease.
Tenant Lease Termination and Rent Abatement Rights. Generally lease
termination rights and rent abatement rights, if any, provided Tenants in the
Credit Leases may be divided into three categories: (i) termination and
abatement rights directly arising from certain casualty events or condemnations
of a material portion of a Mortgaged Property without payment by a related
Tenant in an amount sufficient to pay the related Mortgage Loan in full
("Casualty or Condemnation Rights"), (ii) termination and abatement rights
arising from a borrower's default relating to its obligations under a Credit
Lease to perform required maintenance, repairs or replacements with respect to
the related Mortgaged Property ("Maintenance Rights") and (iii) termination and
abatement rights arising from a borrower's default in the performance of various
other obligations under the Credit Lease, including remediating environmental
conditions not caused by the Tenant, enforcement of restrictive covenants
affecting other property owned by the borrower in the area of the related
Mortgaged Property and complying with laws affecting such Mortgaged Property or
common areas related to such Mortgaged Property ("Additional Rights"). In
addition, certain Credit Leases provide that the Tenant may (i) terminate the
lease as a result of certain environmental matters upon payment to the Trustee
of an amount sufficient to defease the related Mortgage Loan, or (ii) substitute
Mortgaged
S-37
<PAGE>
Property subject to a Credit Lease or replace a Credit Lease with a replacement
Credit Lease upon satisfaction of the conditions set forth in such Credit Lease
and the related Mortgage Loan, which conditions include (a) the same Tenant (or
Guarantor) remains liable on the Credit Lease (or replacement Credit Lease), (b)
that rent due under the replacement lease equals or exceeds the rents paid under
the Credit Lease, (c) the appraised value of the replacement Mortgaged Property
equal or exceed the value of the Mortgaged Property, (d) the remaining term of
the replacement Credit Lease must equal or exceed the remaining term of the
replaced Credit Lease, (e) the form and content of the replacement Credit Lease,
if any, must be substantially similar to the replaced Credit Lease, and (f) such
other conditions as may be set forth in such Credit Lease and the related
mortgage.
Bondable Leases. Ninety-three (93) Mortgage Loans (84.97%) are secured in
part by Credit Leases ("Bondable Leases") that do not provide for Tenant
Casualty or Condemnation Rights, Maintenance Rights or Additional Rights, and
the Tenants thereunder are required, at their expense, to maintain the related
Mortgaged Properties.
Triple Net Leases. Six (6) Mortgage Loans (7.61%) are secured in part by
Credit Leases ("Triple Net Leases") that provide for Tenant Casualty or
Condemnation Rights. The Tenants under Triple Net Leases are required, at their
expense, to maintain the related Mortgaged Properties.
Double Net Leases. Six (6) Credit Leases (7.42%) ("Double Net Leases")
provide the Tenant Casualty or Condemnation Rights and Maintenance Rights and
may provide Additional Rights. If the Mortgagor defaults in the performance of
certain obligations under a Double Net Lease and the Tenant exercises its
Additional Rights or Maintenance Rights, there could be a disruption in the
stream of Rental Payments available to pay principal and interest on the
Mortgage Loans. Generally, Additional Rights and Maintenance Rights are
mitigated by repair and maintenance reserves, debt service coverage ratios in
excess of 1.0x, and, prior to the disbursement of such Mortgage Loan, receipt of
Tenant estoppel certificates or other written confirmations with respect to the
non-existence of any landlord defaults, from the related Tenant with respect to
any existing offset rights.
Each Mortgage Loan that provides the Tenant with a Casualty or Condemnation
Right has the benefit of a noncancelable credit lease enhancement insurance
policy (the "Lease Enhancement Policy") issued by the Enhancement Insurer. Each
Lease Enhancement Policy provides, subject to customary exclusions (described
below), that in the event of a permitted termination by a Tenant of its Credit
Lease as a result of a casualty or condemnation, the Enhancement Insurer will
pay to the Master Servicer on behalf of the Trustee the "Loss of Rents" (that is
a lump sum payment of all outstanding principal plus, subject to the limitation
below, accrued interest on the Mortgage Loan). The Enhancement Insurer is not
required to pay interest for a period greater than 75 days past the date of the
exercise of a Casualty or Condemnation Right. All of the Lease Enhancement
Policies were issued by Chubb Custom Insurance Company which, as of the Cut-Off
Date, was rated "AAA" by Standard & Poor's, "Aa2" by Moody's and "AAA" by DCR.
If the Credit Lease permits the Tenant to abate all or a portion of the rent in
the event of a condemnation, the "Loss of Rents" will be in an amount equal to
the portion of any Rental Payments not made by such Tenant for the period from
the date the abatement commences until the earlier of the date the abatement
ceases or the expiration date of the initial term of such Credit Lease. The
Enhancement Insurer is not required to pay amounts due under the Mortgage Loan
other than principal and, subject to the limitation above, accrued interest, and
therefore is not required to pay any Prepayment Premium or Yield Maintenance
Charge due thereunder or any amounts the borrower is obligated to pay thereunder
to reimburse the Master Servicer or the Trustee for outstanding servicing
advances. See "RISK FACTORS--Risks Affecting Lease Enhancement Policy Proceeds"
herein.
Each Lease Enhancement Policy contains certain exclusions from coverage,
including loss arising from damage or destruction directly or indirectly caused
by war, insurrection, rebellion, revolution, usurped power, pollutants or
radioactive matter, or from a taking (other than by condemnation).
S-38
<PAGE>
Tenants. Set forth in the table below is the name of the Tenant or
Guarantor, if any, the Cut-Off Date balance of the related Mortgage Loan, the
rating of the Tenant or Guarantor and the Credit Lease type.
<TABLE>
<CAPTION>
AGGREGATE DSCR
NUMBER OF NUMBER OF CUT-OFF % OF (NET OF
MORTGAGE MORTGAGED DATE INITIAL POOL LENDER PROPERTY
TENANT /GUARANTOR LOANS PROPERTIES BALANCE BALANCE RESERVES) TYPE
- ----------------- --------- ---------- --------- ------------ --------- --------
<S> <C> <C> <C> <C> <C> <C>
Rite Aid Corporation 42 42 $118,239,398 18.30% 1.00x Retail--Drug Store
Allegheny General Hospital 2 2 102,510,504 15.87 1.03 Office/Garage, Office
Circuit City Stores, Inc. 10 10 69,148,018 10.70 1.00 Retail--Electronics Store,
Retail--Other
Nine West Group, Inc. 1 1 45,888,588 7.10 1.05 Office
Fred Meyer, Inc. 3 3 45,020,588 6.97 1.00 Retail--Grocery/Dept Store
Q Clubs Inc. 6 6 43,688,078 6.76 1.00 Health Club
Northwestern Human
Services, Inc. 3 40 34,068,861 5.27 1.00 Other
Heilig-Meyers Company 20 20 32,692,380 5.06 1.00 Retail--Furniture Store
Baptist Hospital, Inc. 2 2 23,241,483 3.60 1.00 Office
Kmart Corp. 4 4 22,775,358 3.53 1.01 Retail--Discount Store
Home Depot U.S.A., Inc. 1 1 21,168,827 3.28 1.01 Retail--Other
Federal Insurance Company 1 1 17,912,875 2.77 1.04 Office
County of Monroe 1 1 15,884,014 2.46 1.02 Office
Health Insurance Plan of
Greater New York 1 1 15,309,449 2.37 1.15 Office
The Golub Corporation
(Price Chopper) 2 2 11,612,599 1.80 1.01 Retail--Grocery Store
Allegheny Hospitals,
Centennial 1 1 9,201,195 1.42 1.00 Office
Giant Food, Inc. 1 1 4,719,750 0.73 1.36 Retail--Grocery Store
Office Depot, Inc. 1 1 4,488,421 0.69 1.01 Retail--Other
The Times Mirror Company 1 1 3,578,055 0.55 1.04 Office/Warehouse
Time Warner
Entertainment, L.P. 1 1 3,055,623 0.47 1.07 Office
Eckerd Corp. 1 1 1,876,468 0.29 1.02 Retail--Drug Store
--- --- ------------ ------ -----
Total/Wtd. Avg. 105 142 $646,080,530 100.00% 1.02x
</TABLE>
CREDIT RATING(1)
LEASE ----------------
TENANT /GUARANTOR TYPE S&P MOODY'S
- ----------------- ----- --- -------
Rite Aid Corporation (2) BBB+ Baa1
Allegheny General Hospital Bondable A A3
Circuit City Stores, Inc. Bondable (3) (3)
Nine West Group, Inc. Bondable BB Ba2
Fred Meyer, Inc. Bondable BB+ Ba2
Q Clubs Inc. Bondable (3) (3)
Northwestern Human
Services, Inc. Bondable BBB (3)
Heilig-Meyers Company Bondable BB+ Ba1(5)
Baptist Hospital, Inc. Bondable AA- Aa3
Kmart Corp. Bondable BB Ba2
Home Depot U.S.A., Inc. Double Net Lease (3) (3)
Federal Insurance Company Triple Net Lease AAA Aaa
County of Monroe Triple Net Lease AA Aa2
Health Insurance Plan of
Greater New York Double Net Lease BB- (3)
The Golub Corporation
(Price Chopper) (4) (3) (3)
Allegheny Hospitals,
Centennial Bondable BB (3)
Giant Food, Inc. Triple Net Lease (3) (3)
Office Depot, Inc. Double Net Lease BB+ Baa2
The Times Mirror Company Double Net Lease A+ A2
Time Warner
Entertainment, L.P. Bondable BBB- Baa3
Eckerd Corp. Triple Net Lease A (3)
Total/Wtd. Avg.
- ----------
(1) Such ratings are the corporate credit ratings assigned to the related
Tenant or Guarantor by Standard & Poor's and the long-term debt rating
assigned by Moody's, respectively, as of March 25, 1998. The various rating
categories of any rating organization, and the ratings presented above,
reflect differing analyses depending on the obligation being rated. The
ratings presented above do not consistently rate the same type of
obligation.
(2) 94.8% Bondable Leases, 2.3% Triple Net Leases and 2.9% Double Net Leases
(percentages of Rite-Aid Loans by Cut-Off Date Balance).
(3) No public rating available.
(4) 47.7% Bondable Leases, 52.3% Triple Net Leases (percentages of The Golub
Corporation Loans by Cut-Off Date Balance).
(5) Such rating reflects the rating assigned to MacSaver Financial Services,
Inc., a subsidiary of Heilig-Meyers Company, for which Heilig-Meyers
Company has guaranteed its long term debt.
S-39
<PAGE>
CREDIT RATING OF TENANT/GUARANTOR
<TABLE>
<CAPTION>
% OF
AGGREGATE
TENANT/GUARANTOR CREDIT RATINGS (1) % OF PUBLICLY
- ----------------------------------- NUMBER OF AGGREGATE INITIAL RATED
STANDARD & MORTGAGE CUT-OFF DATE POOL CUT-OFF DATE
POOR'S MOODY'S LOANS BALANCE BALANCE BALANCE
- ---------- ------- --------- ------------ ------- ------------
<S> <C> <C> <C> <C> <C>
AAA Aaa 1 $ 17,912,875 2.77% 3.61%
AA Aa2 1 15,884,014 2.46 3.20
AA- Aa3 2 23,241,483 3.60 4.69
A+ A2 1 3,578,055 0.55 0.72
A A3 2 102,510,504 15.87 20.68
A No Public Rating 1 1,876,468 0.29 0.38
BBB+ Baa1 42 118,239,398 18.30 23.85
BBB No Public Rating 3 34,068,861 5.27 6.87
BBB- Baa3 1 3,055,623 0.47 0.62
-------------------------------------------------------------
Investment Grade Subtotal 54 320,367,280 49.59 64.62
BB+ Baa2 1 4,488,421 0.69 0.91
BB+ Ba1 20 32,692,380 5.06 6.59
BB+ Ba2 3 45,020,588 6.97 9.08
BB Ba2 5 68,663,946 10.63 13.85
BB No Public Rating 1 9,201,195 1.42 1.86
BB- No Public Rating 1 15,309,449 2.37 3.09
-------------------------------------------------------------
Non-Investment Grade Subtotal 31 175,375,979 27.14 35.38
PUBLICLY RATED TOTAL/WTD. AVG. 85 495,743,259 76.73 100.00%
=============================================================
NO AVAILABLE RATING TOTAL/WTD. AVG. 20 150,337,271 23.27 --
=============================================================
TOTAL/WTD. AVG. 105 $646,080,530 100.00% --
</TABLE>
WEIGHTED AVERAGES
TENANT/GUARANTOR CREDIT RATINGS (1) ----------------------
- ----------------------------------- STATED
STANDARD & MORTGAGE REMAINING
POOR'S MOODY'S RATE TERM (MO.)
- ---------- ------- -------- ----------
AAA Aaa 6.900% 172
AA Aa2 6.640 246
AA- Aa3 6.979 272
A+ A2 6.630 158
A A3 6.938 244
A No Public Rating 7.190 220
BBB+ Baa1 6.799 259
BBB No Public Rating 7.320 122
BBB- Baa3 7.360 180
-----------------
Investment Grade Subtotal 6.916 233
BB+ Baa2 8.818 229
BB+ Ba1 7.480 257
BB+ Ba2 7.712 268
BB Ba2 8.592 239
BB No Public Rating 7.870 235
BB- No Public Rating 8.350 299
-----------------
Non-Investment Grade Subtotal 8.106 255
PUBLICLY RATED TOTAL/WTD. AVG. 7.337 241
=================
NO AVAILABLE RATING TOTAL/WTD. AVG. 7.993% 254
=================
TOTAL/WTD. AVG. 7.489% 244
- ----------
(1) Such ratings are the corporate credit ratings assigned to the related
Tenant or Guarantor, as applicable, by Standard & Poor's and the long-term
debt rating assigned by Moody's, respectively as of March 25, 1998. The
various rating categories of any rating organization, and the ratings
presented above, reflect differing analyses depending on the obligation
being rated. The ratings presented above do not consistently rate the same
type of obligation.
INDUSTRY OF TENANT/GUARANTOR
<TABLE>
<CAPTION>
CUMULATIVE
NUMBER AGGREGATE % OF % OF
OF MORTGAGE CUT-OFF DATE INITIAL POOL INITIAL POOL
INDUSTRY (1) LOANS BALANCE BALANCE BALANCE
- ------------- ----------- ------------ ------------ ------------
<S> <C> <C> <C> <C>
Non-Profit Hospital 5 $134,953,182 20.89% 20.89%
Drug Store 43 120,115,866 18.59 39.48
Electronics Retailer 10 69,148,018 10.70 50.18
Footwear 1 45,888,588 7.10 57.28
Grocery/Department Store 3 45,020,588 6.97 64.25
Health Club 6 43,688,078 6.76 71.02
Social Services Provider 3 34,068,861 5.27 76.29
Retail Furniture 20 32,692,380 5.06 81.35
Department Store 4 22,775,358 3.53 84.87
DIY Home Improvement 1 21,168,827 3.28 88.15
Fire/Marine Insurance 1 17,912,875 2.77 90.92
Grocery Store 3 16,332,349 2.53 93.45
Government 1 15,884,014 2.46 95.91
Health Maintenance Organization 1 15,309,449 2.37 98.28
Retail-Office Supplies 1 4,488,421 0.69 98.97
Newspaper Publisher 1 3,578,055 0.55 99.53
Cable/Entertainment 1 3,055,623 0.47 100.00
- -----------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVG. 105 $646,080,530 100.00% 100.00%
</TABLE>
WEIGHTED AVERAGES
----------------------
STATED
MORTGAGE REMAINING
INDUSTRY (1) RATE TERM (MO.)
- ------------- -------- -----------
Non-Profit Hospital 7.009% 248
Drug Store 6.805 259
Electronics Retailer 7.887 254
Footwear 9.000 228
Grocery/Department Store 7.712 268
Health Club 8.760 250
Social Services Provider 7.320 122
Retail Furniture 7.480 257
Department Store 7.770 261
DIY Home Improvement 6.960 235
Fire/Marine Insurance 6.900 172
Grocery Store 7.726 289
Government 6.640 246
Health Maintenance Organization 8.350 299
Retail-Office Supplies 8.818 229
Newspaper Publisher 6.630 158
Cable/Entertainment 7.360 180
- --------------------------------------------------------------
TOTAL/WTD. AVG. 7.489% 244
(1) LMMCC internal industry designation.
S-40
<PAGE>
LARGEST TENANTS/GUARANTORS
Eighty-seven (87) Mortgage Loans (76.04%) are secured, in part, by Credit
Leases to one of eight unrelated Tenants, each of which are Tenants with respect
to Credit Leases securing Mortgage Loans (or groups of Mortgage Loans) which
represent more than 5% of the Initial Pool Balance.
The following information with respect to the operations of individual
Tenants has been prepared on the basis of publicly available information, and no
one makes any representation with respect to the accuracy of such information
which does not purport to be a complete description of the operations or
condition of each respective Tenant.
Rite Aid Loans. Forty-two (42) Mortgage Loans (the "Rite Aid Loans"),
having an aggregate Cut-Off Date Balance of $118,239,397.85 (18.30%), are
secured by 42 separate mortgages encumbering the respective fee simple or fee
simple and leasehold interests in 42 separate Mortgaged Properties (the "Rite
Aid Properties"), which are leased to various wholly-owned subsidiaries of Rite
Aid Corporation (with a Lease Guaranty from Rite Aid Corporation), a
publicly-traded company (NYSE: RAD) which operates a national retail chain of
approximately 3,900 drug stores in various states through the United States. As
of March 25, 1998, the Rite Aid Corporation had a corporate credit rating of
"`BBB+" and a long-term credit rating of "Baa1" from Standard & Poor's and
Moody's, respectively. The Rite Aid Properties are used for retail purposes, are
located in nineteen different states, and have aggregate improvements totaling
approximately 672,270 square feet.
Approximately 94.85% of the aggregate principal balance of the Rite Aid
Loans (17.36%) is secured, in part, by Bondable Leases and Lease Guaranties
provided in favor of the borrowers by Rite Aid Corporation. Thirty-seven of the
Rite Aid Loans (16.84%) have Insured Balloon Payments.
One of the Rite Aid Loans (0.42%) is secured, in part, by a Triple Net
Lease and a Lease Guaranty provided in favor of the borrower by Rite Aid
Corporation. Two Rite Aid Loans (0.53%) are secured, in part, by Double Net
Leases and a Lease Guaranty provided in favor of the borrower by Rite Aid
Corporation.
Allegheny General Hospital. Two Mortgage Loans (the "Allegheny General
Loans"), having an aggregate Cut-Off Date Balance of $102,510,503.80 (15.87%),
are secured by two separate mortgages encumbering the fee simple and leasehold
interests (where applicable) in two Mortgaged Properties (the "Allegheny General
Properties") which are leased to Allegheny General Hospital ("AGH"), a
non-profit hospital located in the "North Side" of Pittsburgh, Pennsylvania. As
of March 25, 1998, the Allegheny General Hospital had a corporate credit rating
of "A" and a long-term credit rating of "A3" from Standard & Poor's and Moody's,
respectively. Both of the Allegheny General Loans are secured, in part, by
Bondable Leases.
One Allegheny General Loan (the "AGH Federal Loan") (10.40%) relates to a
Mortgaged Property which is under construction in Pittsburgh, Pennsylvania (the
"AGH Federal Property"). The proceeds of the AGH Federal Loan are being used to
construct and develop an approximately 200,000 square foot medical
research/office building and 500 car parking garage on approximately 2.86 acres
of land comprising the AGH Federal Property. Pursuant to the terms of the Credit
Lease and the related construction documents, Allegheny General Hospital is
obligated to cause development of the AGH Federal Property to be completed no
later than August 31, 1999 (subject to extension following certain payments by
Allegheny General Hospital) and to commence payments of fixed rent on September
1, 1999, whether or not development of the AGH Federal Property has been
completed by such date. Until such date, payments of interest only on the AGH
Federal Loan will be paid quarterly out of a capitalized interest account
established at closing and held by the Master Servicer. Thereafter, payments of
principal and interest on the AGH Federal Loan will be made quarterly out of
fixed rent paid under the Credit Lease. Allegheny General Hospital's failure to
complete development of the AGH Federal Property on or before November 30, 1999
constitutes an event of default under the Lease and the AGH Federal Loan,
permitting the Trustee to accelerate the AGH Federal Loan and the borrower to
demand a repurchase of the AGH Federal Property by Allegheny General Hospital
for a price equal to 105% of the outstanding balance under the AGH Federal Loan.
See "RISK FACTORS--The Mortgage Loans--Risks Associated with Construction Loans"
herein.
The other Allegheny General Loan (the "AGH Main Campus Loan") (5.47%) is
secured by one mortgage encumbering a leasehold interest in a medical office
building and two parking garages (collectively, the "AGH Main Campus
Properties"). All notes constituting the AGH Main Campus Loan are
crossed-collateralized and
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<PAGE>
cross-defaulted. The AGH Main Campus Properties consist of (a) the Allegheny
General Hospital East Wing Office Building, containing approximately 66,629
square feet and 100% subleased to various physicians' groups affiliated with
AGH; (b) the James Street Parking Garage, a seven story parking facility
containing approximately 807 spaces originally constructed in 1978 and open to
both monthly and daily parkers; and (c) the Hemlock Street Parking Garage, an
eight story parking facility containing approximately 1,200 spaces open only to
monthly parking patrons associated with AGH.
Circuit City Loans. Ten (10) Mortgage Loans (the "Circuit City Loans"),
having an aggregate Cut-Off Date Balance of $69,148,018.17 (10.70%), are secured
by ten (10) separate mortgages encumbering the fee simple or fee simple and
leasehold interest in ten (10) separate Mortgaged Properties (the "Circuit City
Properties") which are leased to Circuit City Stores, Inc., a publicly-traded
company (NYSE: CC) which operates a national chain of approximately 500 retail
electronic stores and, through its Car Max affiliate, seven retail used car
facilities, in various states throughout the United States. Circuit City Stores,
Inc. does not have a publicly available rating.
All of the Circuit City Loans are secured, in part, by Bondable Leases. The
Circuit City Properties are used for retail purposes, are located in eight (8)
different states, and have aggregate improvements totaling approximately 422,086
square feet.
Nine West Loan. One (1) Mortgage Loan (the "Nine West Loan"), having a
Cut-Off Date Balance of $45,888,588.25 (7.10%), is secured by a mortgage
encumbering the fee simple and leasehold interest in a Mortgaged Property
located in Westchester County, New York (the "Nine West Property") which is
leased to Nine West Group, Inc., a publicly-traded (NYSE: NIN) international
designer, developer and marketer of women's footwear. As of March 25, 1998, the
Nine West Group, Inc. had a corporate credit rating of "BB" and a long-term
credit rating of "Ba2" from Standard & Poor's and Moody's, respectively.
However, Moody's has placed the Nine West Group, Inc. on "Review" and Standard &
Poor's has placed Nine West Group, Inc. on "Credit Watch with Negative
Implications," in each case for a possible ratings downgrade.
The Nine West Loan is secured, in part, by a Bondable Lease. The Nine West
Property is further subject to a ground lease agreement with the County of
Westchester Industrial Development Agency as ground lessor. The ground lease
agreement encumbers all of the land under the Nine West Property, all of which
land is subject to, and constitutes security for, the Nine West Loan. All ground
rent payable under the ground lease for the entire term thereof was prepaid at
the closing of the Nine West Loan. Pursuant to the terms of the ground lease
agreement, upon any termination of the ground lease, all right, title and
interest of ground lessor in the land under the Nine West Property reverts to
the borrower subject to the lien of the Nine West Loan.
The Nine West Property consists of two office buildings with a total of
approximately 366,460 square feet and approximately 25.77 acres of land situate
in Westchester County, near White Plains, New York. Fred Meyer Loans. Three (3)
Mortgage Loans (the "Fred Meyer Loans"), having an aggregate Cut-Off Date
Balance of $45,020,588.17 (or 6.97%), are secured by three (3) separate
mortgages encumbering the fee simple interests in three (3) separate Mortgage
Properties (the "Fred Meyer Properties") which are leased to Fred Meyer, Inc.
(in the case of two of the Fred Meyer Properties) and a wholly-owned subsidiary
of Fred Meyer, Inc. (in the case of the remaining Fred Meyer Properties), a
publicly-traded company (NYSE: FMY) which operates a chain of approximately 400
retail stores in different locations, offering food, apparel, general
merchandise, home electronics, home improvements and fine jewelry in various
states throughout the Western United States. As of March 25, 1998, Fred Meyer,
Inc. had a corporate credit rating of "BB+" and a long-term credit rating of
"Ba2" from Standard & Poor's and Moody's, respectively.
All of the Fred Meyer Loans are secured, in part, by Bondable Leases and
with respect to the Fred Meyer Property leased to a wholly-owned subsidiary of
Fred Meyer, Inc., a Lease Guaranty provided in favor of the related borrower by
Fred Meyer, Inc. Two (2) of the Fred Meyer Properties are located in the state
of Washington and one (1) of the Fred Meyer Properties is located in the state
of Oregon. The Fred Meyer Properties are used for retail purposes and have
aggregate improvements totaling approximately 517,352 square feet.
Q Clubs Loan. Six (6) Mortgage Loans (the "Q Clubs Loans"), having an
aggregate Cut-Off Date Balance of $43,688,077.44 (6.76%), are secured by six (6)
separate mortgages encumbering the fee simple interests in six (6) separate
Mortgage Properties (the "Q Clubs Properties") which are leased to Q Clubs,
Inc., a privately-held company which operates a chain of approximately 18 health
clubs in various states throughout the United States. Q Clubs, Inc. does not
have a publicly available rating.
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<PAGE>
All of the Q Clubs Loans are secured, in part, by Bondable Leases. Four (4)
of the Q Clubs Properties are located in the State of Texas, and two (2) of the
Q Club Properties are located in the State of Florida. The Q Clubs Properties
are used as health clubs and have aggregate improvements totaling approximately
282,227 square feet.
Northwestern Loans. The Three (3) Mortgage Loans (the "Northwestern
Loans"), having an aggregate Cut-Off Date Balance of $34,068,860.79 (5.27%), are
comprised of forty (40) separate mortgages encumbering the fee simple interests
in (a) thirty-nine (39) separate Mortgaged Properties (the "Northwestern I
Properties") and (b) a single Mortgaged Property (the "Northwestern II
Property"), which are leased to Northwestern Human Services, Inc., a
privately-held company which provides private social services and related
services under various contracts to state and local governmental agencies in
various states in the Eastern United States. As of March 25, 1998, Northwestern
Human Services, Inc. had a corporate credit rating of "BBB" from Standard &
Poor's. Northwestern Human Services, Inc. does not have a publicly available
rating from Moody's.
All of the Northwestern Loans are secured, in part, by Bondable Leases.
Thirty-six (36) of the Northwestern I Properties are located in the state
of Pennsylvania and three (3) of the Northwestern I Properties are located in
the state of New Jersey. The Northwestern I Properties include medical office,
general office, outpatient facilities and residential facilities used by
Northwestern Human Services, Inc. to administer social services programs and (in
the case of the residential properties) to house special need patients on behalf
of state and local governments. The Northwestern I Properties have aggregate
improvements totaling approximately 186,810 square feet. The Northwestern Loans
which are secured by the Northwestern I Properties are cross-collateralized and
cross-defaulted.
The Northwestern II Property consists of a 240 bed juvenile detention
facility currently under construction in the State of Pennsylvania. Pursuant to
the terms of the Bondable Lease related to the Northwestern II Property,
Northwestern Human Services, Inc. is obligated to cause development of the
Northwestern II Property to be completed not later than May 31, 1999 and to
commence payments of fixed rent on June 30, 1999 irrespective of whether
development of the Northwestern II Property has been completed by such date.
Payments of interest only on the Northwestern II Property loan will be paid
monthly out of a capitalized interest escrow account established at closing and
held by the Servicer during the construction period. Thereafter, payments of
principal and interest on the Northwestern II Property loan will be made monthly
out of fixed rent paid under the Northwestern II Property lease. A failure by
Northwestern Human Services, Inc. to cause development of the Northwestern II
Property to be completed on or before September 30, 1999 constitutes an event of
default under the Credit Lease and the Northwestern II Property loan, permitting
the Lender to accelerate the Northwestern II Property loan and the borrower to
demand a repurchase of the Northwestern II Property by Northwestern Human
Services, Inc. for a net price at least equal to 105% of the outstanding
principal balance plus accrued interest to fully repay the Northwestern II
Property loan.
Heilig-Meyers Loans. Twenty (20) Mortgage Loans (the "Heilig-Meyers
Loans"), having an aggregate Cut-Off Date Balance of $32,692,379.69 (5.06%), are
secured by 20 separate Mortgage Loans encumbering the fee simple interests in 20
separate Mortgaged Properties (the "Heilig-Meyers Properties") which are leased
to Heilig-Meyers Company and various wholly-owned subsidiaries of Heilig-Meyers
Company, a publicly-traded company (NYSE: HMY) which sells furniture, consumer
electronics, appliances, beddings, and floor coverings through a chain of
approximately 1,100 retail furniture stores in various states throughout the
United States. As of March 25, 1998, Heilig-Meyers Company had a corporate
credit rating of "BB+" from Standard & Poor's. Heilig-Meyers Company does not
have a publicly available rating for Moody's; however, as of March 25, 1998, a
subsidiary of Heilig-Meyers Company for which Heilig-Meyers Company guarantees
long term debt had a long term credit rating of "Ba1" from Moody's.
All of the Heilig-Meyers Loans are secured, in part, by Bondable Leases
and, in the case of Heilig-Meyers Properties, leased to wholly-owned
subsidiaries of Heilig-Meyers Company. Lease Guaranties have been provided in
favor of the related borrowers by Heilig-Meyers Company. The Heilig-Meyers
Properties are used for retail purposes, are located in eight (8) states, and
have aggregate improvements totaling approximately 756,669 square feet.
S-43
<PAGE>
Construction Loans. The proceeds of five Mortgage Loans (18.58%) (Control
Numbers 3, 4, 53, 57 and 113) (the "Construction Loans") were applied, in part,
to pay for the costs to construct the improvements that are, in each case,
subject to a Credit Lease. Each of the Construction Loans is secured by the
related borrower's interest in the real estate and provides for payment of
interest only during some or all of the projected construction period, with
amortization of the principal commencing thereafter. Under each of the Credit
Leases relating to a Construction Loan, the Rental Payments are generally
sufficient to pay in full and on a timely basis all interest and principal
scheduled to be paid with respect to the related Construction Loans upon
commencement of principal amortization. Funds sufficient to pay interest during
the construction period were advanced to the respective borrowers and were
deposited in each case in a capitalized interest escrow account from which
monthly payments of interest on the Construction Loans are to be disbursed when
due. In four of the five Construction Loans (Control Numbers 3, 4, 57 and 113),
the Tenants are required to pay for any construction cost shortfalls and are
obligated to purchase the respective Mortgaged Properties for an amount which,
together with funds remaining in the related construction escrow account, will
be sufficient to pay the principal of and interest on the related Mortgage Loan
together with a Prepayment Premium should construction not be completed by a
certain date or if certain other events of default occur before such date. In
the fifth Construction Loan (Control Number 53) (2.46%), the borrower is
required to pay for shortfalls, if any, incurred in connection with completion
of construction on the related Mortgaged Property. However, if construction is
not completed by a certain date, or if certain other events of default occur
before such date, it is an event of default under such Mortgage Loan and the
Trustee for the benefit of the Certificateholders shall be entitled to draw on
an irrevocable letter of credit issued by Fleet National Bank (rated "A" by S&P
and "A2" by Moody's as of the Cut-Off Date) in the amount sufficient to pay the
principal of, and a Prepayment Premium on, the related Mortgage Loan. See "RISK
FACTORS--The Mortgage Loans--Risks of Lending on Income Producing Properties
Generally" and "--Risks Associated with Construction Loans" herein.
Certificateholders may be adversely affected by any failure of Fleet National
Bank to pay under the letter of credit, and any downgrade of the credit rating
of Fleet National Bank may adversely affect the ratings of the Offered
Certificates.
Set forth below are certain characteristics of the Construction Loans.
SUMMARY OF CONSTRUCTION LOANS
<TABLE>
<CAPTION>
% OF SCHEDULED
CREDIT RATING(1) CUT-OFF INITIAL CONSTRUCTION CONSTRUCTION CONSTRUCTION
CONTROL TENANT/ ---------------- DATE POOL COMPLETION DEFAULT DEFAULT
NUMBER LEASE GUARANTOR S&P MOODY'S BALANCE BALANCE DATE (3) DATE (4) CALL PRICE
- ------- --------------- --- ------- ------- ------- ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
3 Allegheny General
Hospital A A3 $ 67,170,088 10.40% 8/31/1999 11/30/1999 105.0%
4 Baptist Hospital, Inc AA- Aa3 19,791,521 3.06 8/31/1998 12/31/1999 104.6
53 County of Monroe AA Aa2 15,884,014 2.46 9/1/1998 9/1/1998 103.0
57 Northwestern Human
Services, Inc. BBB (2) 14,135,554 2.19 5/31/1999 9/30/1999 105.0
113 Time Warner
Entertainment, L.P. BBB- Baa3 3,055,623 0.47 4/1/1998 12/1/1999 110.0(5)
-----------------------
$120,036,800 18.58%
</TABLE>
- ----------
(1) Such ratings are the corporate credit ratings assigned to the related
Tenant or Guarantor, as applicable, by Standard & Poor's and the long-term
debt rating assigned by Moody's, respectively as of March 25, 1998. The
various rating categories of any rating organization, and the ratings
presented above, reflect differing analyses depending on the obligation
being rated. The ratings presented above do not consistently rate the same
type of obligation.
(2) Not publicly rated.
(3) The date upon which construction is scheduled to be completed pursuant to
the terms of the Credit Lease and related documents.
(4) The date on which the Tenant will be in default under the Credit Lease if
construction is incomplete, except with respect to one Mortgage Loan
(Control Number 53) for which the Construction Default Date is the date on
which the borrower will be in default under such Mortgage Loan if
construction is not complete, thereby permitting the trustee to draw on the
Letter of Credit issued by Fleet National Bank.
(5) Minimum prepayment amounts assuming tenant exercises its option to purchase
the mortgage loan from lender following a construction default. In the
event the tenant does not exercise such option, the prepayment amount will
be based upon a default payment from tenant under the lease which will be
equal to or greater than 132% of the mortgage loan balance.
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<PAGE>
CERTAIN TERMS AND CONDITIONS OF THE MORTGAGE LOANS
Mortgage Rates; Calculations of Interest. All of the Mortgage Loans bear
interest at Mortgage Rates that will remain fixed for their remaining terms. All
the Mortgage Loans accrue interest on the basis (a "30/360 basis") of a 360-day
year consisting of twelve 30-day months.
Due Dates. Sixteen (16) Mortgage Loans (31.91%), have "Due Dates" (that is,
the dates upon which the related Periodic Payments become due) that occur on the
first day of each month that a payment is due. Seventeen (17) Mortgage Loans
(19.50%) have Due Dates on the fifth day of each month and seventy-two (72)
Mortgage Loans (48.59%) have Due Dates on the 10th day of each month. Periodic
Payments are due monthly with respect to all but three of the Mortgage Loans and
quarterly with respect to the remainder of the Mortgage Loans. With respect to
the three Mortgage Loans (17.29%), the Periodic Payments are due quarterly (the
"Quarterly Pay Loans"). With respect to the Quarterly Pay Loans, the principal
portion of such payment received and an amount equal to one month's interest
payment will be distributed to Certificateholders on the Distribution Date in
the month such Periodic Payment is received. The remainder of the interest
portion of such payment will be held in a reserve account (the "Quarterly
Interest Reserve Account"), subject to withdrawal on the immediately subsequent
two Distribution Dates, to the extent of the amount received. On the Closing
Date, the Mortgage Loan Seller will cause to be deposited into the Quarterly
Interest Reserve Account, an amount, if any, with respect to each Quarterly Pay
Loan, sufficient to make distributions to Certificateholders in respect of
interest to accrue on such Quarterly Pay Loan from the Cut-Off Date through the
Distribution Date immediately preceding the first Due Date to occur after the
Closing Date for such Quarterly Pay Loan.
Amortization. Sixty-four (64) Mortgage Loans (74.61%) provide for Periodic
Payments that fully amortize the principal balance of such Mortgage Loan by its
maturity date (the "Fully Amortizing Loans") and forty-one (41) Mortgage Loans
(25.39%) provide for Periodic Payments based on amortization schedules
significantly longer than their respective remaining terms to maturity (the
"Balloon Loans"). The Balloon Loans will have substantial principal amounts due
and payable on their scheduled respective maturity dates, unless prepaid prior
thereto, which are in excess of the principal amounts which would have been due
and payable had such loans been Fully Amortizing Loans (such excess amount is
herein referred to as a "Balloon Payment"). All of the Balloon Payments are
either Insured Balloon Payments or Tenant Balloon Payments. See
"SUMMARY--Amortization Characteristics," "RISK FACTORS--The Mortgage Loans" and
"--Risks Affecting Residual Value Insurance Policy Proceeds" herein.
Nonrecourse Obligations. The Mortgage Loans are generally non-recourse
obligations of the respective borrowers and, upon any such borrower's default in
the payment of any amount due under the related Mortgage Loan, the holder
thereof may look only to the related Mortgaged Property for satisfaction of the
borrower's obligations. In addition, in those cases where recourse to a borrower
or guarantor is purportedly permitted, the Depositor has not undertaken an
evaluation of the financial condition of any such person (other than the
Guarantor of a Credit Lease), and prospective investors should thus consider all
of the Mortgage Loans to be nonrecourse (except with respect to a Tenant or
Guarantor). No Mortgage Loan will be insured or guaranteed by any governmental
entity or private insurer, except with respect to Insured Balloon Payments under
certain Mortgage Loans.
Defeasance. During their respective Lockout Periods, but beginning not
earlier than two years after the Closing Date, all but one of the Mortgage Loans
provide that, in general, the related borrower may substitute a pledge of
"Defeasance Collateral" in exchange for a release of the Mortgaged Property from
the lien of the related Mortgage. In general, "Defeasance Collateral" is direct,
non-callable United States Treasury obligations that provide for payments on or
prior to, but as close as possible to, each successive Due Date with respect to
the defeased Mortgage Loan, with each such payment being equal to or greater
than the Periodic Payment and the Balloon Payment with respect to such defeased
Mortgage Loan.
Prepayment Provisions. As of the Cut-Off Date, all of the Mortgage Loans
restrict or prohibit voluntary principal prepayment by the borrowers (other than
by reason of a material casualty, condemnation or other event not caused by the
borrower and affecting the Mortgaged Property, as set forth below). In general,
the Mortgage Loans prohibit voluntary prepayments of principal for a period (a
"Lockout Period") ending on a date specified in the related Mortgage Note (as
defined herein) and, in the case of three (3) Mortgage Loans (3.75%) thereafter
impose a Yield Maintenance Charge or Percentage Premium (each as defined herein)
for most of their respective remaining terms to maturity. The ability of the
Master Servicer or a Special Servicer to waive or modify the terms of any
Mortgage Loan relating to the payment of a Prepayment Premium is limited as
described herein. See "SERVICING
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<PAGE>
OF THE MORTGAGE LOANS--Modifications, Waivers and Amendments" herein. Neither
the Depositor nor the Mortgage Loan Seller makes any representation as to the
enforceability of the provisions of any Mortgage Note requiring the payment of a
Prepayment Premium, or of the collectability of any Prepayment Premium.
"Due-on-Sale" and "Due-on-Encumbrance" Provisions. Generally, the Mortgages
contain "due-on-sale" and "due-on-encumbrance" clauses that, in most
circumstances, (i) permit the holder of the Mortgage to accelerate the maturity
of the related Mortgage Loan if the borrower sells or otherwise transfers or
encumbers the related Mortgaged Property, or (ii) prohibit the borrower from
doing so without the consent of the holder of the Mortgage, which consent, in
certain cases, may not be unreasonably withheld if certain conditions are met.
As provided in the Pooling and Servicing Agreement, the Master Servicer or the
Special Servicer, on behalf of the Trust Fund, will determine, in a manner
consistent with the servicing standard described herein under "SERVICING OF THE
MORTGAGE LOANS--General," whether to exercise any right the holder of any
Mortgage may have under any such clause to accelerate payment of the related
Mortgage Loan upon, or to withhold its consent to, any transfer or further
encumbrance of the related Mortgaged Property.
Cross-Default and Cross-Collateralization of Certain Mortgage Loans. Two
groups of Mortgage Loans (6.61%) (Control Numbers 48, 49, 50 and 51 and Control
Numbers 55 and 56), are cross-collateralized and cross-defaulted with the other
Mortgage Loans in the related group. No Mortgage Loans are cross-collateralized
or cross-defaulted with any loans which are not included in the Mortgage Pool.
The Master Servicer or the Special Servicer, as the case may be, will determine
whether to enforce the cross-default and cross-collateralization rights upon a
mortgage loan default with respect to any of these Mortgage Loans. The
Certificateholders will not have any right to participate in or control any such
determination. No other Mortgage Loans are subject to cross-collateralization or
cross-default provisions.
UNDERWRITING CRITERIA
One hundred four (104) Mortgage Loans (99.3%) were originated by affiliates
of LMMCC. One Mortgage Loan was originated by a third-party originator.
A variety of factors are considered by LMMCC in originating a Mortgage
Loan, the most important of which is an actual published corporate, senior debt
or claims paying ability or the Private Estimated Rating (as defined below) of
the Tenant. LMMCC's criteria limits the origination of Mortgage Loans to
borrowers possessing Mortgaged Properties that are subject to a Credit Lease to
a Tenant having either (i) an actual published corporate, senior debt or
claims-paying ability, or (ii) a private confidential rating estimate of not
less than "B" or the equivalent, as ascribed by a nationally recognized rating
agency, based solely on an analysis of certain financial information including
an analysis of certain financial ratios indicating that the Tenant meets certain
credit rating parameters (a "Private Estimated Rating"). Such analysis by such
rating agency is based solely upon publicly available information and does not
include, among other things, a review of projections or interviews with the
senior management of the Tenant or Guarantor.
In addition, the Mortgage Loans were underwritten using criteria that
generally meet the "Credit Tenant Loan Guidelines" established by the National
Association of Insurance Commissioners for "Schedule D" bond investment
treatment.
Each Mortgage Loan secured by a Bondable Lease or a Triple Net Lease is
generally underwritten using a Minimum Stabilized Debt Service Coverage Ratio
(as defined herein) of 1.0x. Each Mortgage Loan secured by a Triple Net Lease
with Casualty or Condemnation Rights must have the benefit of a Lease
Enhancement Policy.
Each Mortgage Loan secured by a Double Net Lease is generally underwritten
using a Minimum Stabilized Debt Service Coverage Ratio of not less than 1.01x,
after deducting reserves and any other amounts projected to be required to
address any Additional Rights that may exist under such Credit Leases. Reserves
established in connection with Mortgage Loans secured by Double Net Leases equal
at least 150% of the amounts recommended in the third-party engineering
assessments performed in connection with the origination of such Mortgage Loans.
In addition, each Mortgage Loan secured by a Double Net Lease with Casualty or
Condemnation Rights must have the benefit of a Lease Enhancement Policy.
S-46
<PAGE>
ASSESSMENT OF PROPERTY CONDITION
Property Inspection. All of the Mortgaged Properties were inspected in
connection with the origination or acquisition of the related Mortgage Loans by
or on behalf of the originator or the related Mortgage Loan Seller to assess
their general condition. No inspection revealed any patent structural deficiency
or any deferred maintenance considered material and adverse to the interests of
the holders of the Offered Certificates and for which adequate reserves have not
been established.
Appraisals. All of the Mortgaged Properties were appraised by a state
certified appraiser or an appraiser belonging to the Appraisal Institute. The
primary purpose of each appraisal was to provide an opinion of the fair market
value of the related Mortgaged Property subject to the Credit Lease. There can
be no assurance that another appraiser would have arrived at the same opinion of
value. See "RISK FACTORS--The Mortgage Loans--Risks Associated with Appraised
Values of the Mortgaged Properties" herein.
Environmental Assessments. A "Phase I" environmental site assessment was
performed by an independent environmental consulting firm with respect to all
the Mortgaged Properties in connection with the origination of the related
Mortgage Loans, and a third-party desktop review (not including an on-site
review) of such site environmental assessment was conducted by Environmental
Management Group, Inc. In certain cases, additional environmental testing, as
recommended by such "Phase I" assessment, was performed. In each case where
environmental assessments recommended further action, the originator of the
related Mortgage Loan determined that the necessary remediation or testing was
being undertaken in a satisfactory manner or that such remediation or testing
would be adequately addressed post-closing. In some instances, the originator of
the related Mortgage Loan required that reserves be established to cover the
estimated cost of such remediation.
Engineering Assessments. With respect to nineteen (19) of the Mortgage
Loans (23.23%), a licensed engineer or architect inspected the related Mortgaged
Property with respect to all the Mortgage Loans to assess those property matters
which are the responsibility of the related borrower, as landlord, under the
related Credit Lease. Certain of the resulting reports indicated certain
deferred maintenance items and/or recommended capital improvements with respect
to certain of such Mortgaged Properties. Except with respect to those Mortgage
Loans in which the related Tenant is obligated for such costs, and except with
respect to Construction Loans, the related borrowers generally deposited with
the Lender or its designee at the origination of the related Mortgage Loans an
amount equal to approximately 125% of the licensed engineer's or architect's
estimated cost of any material recommended repairs, corrections or replacements
not completed by closing, to assure their completion.
Earthquake Analyses. Eleven (11) Mortgage Loans (6.17%) are secured, in
part, by mortgages on the fee simple and leasehold interests in eleven separate
Mortgaged Properties located in the State of California (the "California
Loans").
Ten (10) of the California Loans are secured, in part, by Bondable Leases.
Pursuant to such Leases, the Tenants are obligated to restore the related
Mortgaged Property following all events of casualty (including without
limitation any casualty arising as a result of an earthquake) and, in the case
of condemnation, to provide the related borrowers with irrevocable offers to
purchase the affected Mortgaged Properties for amounts sufficient to retire the
then-outstanding principal balances of the affected Mortgage Loans. In the case
of seven (7) of the California Loans secured by Bondable Leases, the tenants are
also obligated to obtain earthquake insurance coverage. In the case of the
remaining three (3) of the California Loans secured by Bondable Leases (control
numbers 48, 49 and 50), the tenant is not required to obtain earthquake
insurance coverage. Earthquake risk assessments obtained at origination of such
California Loans indicated that probable maximum losses of 12%, 15% and 14% were
associated with such Mortgaged Properties on a 475-year seismic risk basis.
One California Loan is secured by a Double-Net Lease pursuant to which the
Tenant is required to obtain earthquake insurance. An earthquake risk assessment
obtained at origination of such California Loan indicated that a probable
maximum loss of 20% was associated with such Mortgaged Property on a 475-year
seismic risk basis.
Zoning Compliance. Due to changes in applicable building and zoning
ordinances and codes ("Zoning Laws") affecting certain of the Mortgaged
Properties which have come into effect after the construction of improvements on
such Mortgaged Properties and for other reasons, certain improvements thereon
may not comply
S-47
<PAGE>
fully with current Zoning Laws, including density, use, parking and set back
requirements, but qualify as permitted non-conforming uses. Such changes may
limit the ability of the borrower or related Tenant, if the Tenant is obligated
to restore the related Mortgaged Property under the terms of the Credit Lease,
to rebuild the premises "as is" in the event of a substantial casualty loss with
respect thereto. Such limitations may adversely affect the ability of the
borrower to meet its Mortgage Loan obligations from cash flow or result in a
Tenant's determination to terminate its Credit Lease only if permitted by the
terms thereof. While it is expected that insurance proceeds would be available
for application to the related Mortgage Loan if a substantial casualty were to
occur (other than with respect to Mortgage Loans in which the Tenant's
obligations are not affected by a casualty), no assurance can be given that such
proceeds would be sufficient to pay off such Mortgage Loan in full or that, if
the Mortgaged Property were to be repaired or restored in conformity with
current law, whether the value of the related Mortgaged Property or its revenue
producing potential would be diminished.
ADDITIONAL MORTGAGE LOAN INFORMATION
The Mortgage Pool. For a detailed presentation of certain of the
characteristics of the Mortgage Loans and the Mortgaged Properties, on an
individual basis, see Annex A hereto. Certain additional information regarding
the Mortgage Loans is contained herein under "--Assignment of the Mortgage
Loans; Repurchases" and "--Representations and Warranties; Repurchases," and in
the Prospectus under "DESCRIPTION OF THE TRUST FUNDS" and "CERTAIN LEGAL ASPECTS
OF THE MORTGAGE LOANS."
For purposes of the following tables, tables set forth in the Summary, and
Annex A:
(i) References to "Remain Amort. Term" are references to the remaining
amortization terms.
(ii) References to "DSCR" are references to "Debt Service Coverage
Ratios." With respect to the Mortgage Loans, debt service coverage ratios
are used by lenders to measure the ratio of (a) absolute net cash realized
by a landlord (as borrower) under a related Credit Lease ("Net Cash Flow")
that is available for debt service (that is, cash remaining after deducting
any expenses which are either (i) explicitly the responsibility of the
landlord under the related Credit Lease (i.e., roof replacements if
required under a Double-Net Lease, etc.), and/or (ii) those expenses which
could potentially become the responsibility of the landlord under the
Credit Lease if and as reasonably forecasted by the Mortgage Loan Seller,
based upon either (A) potential expense obligations of the landlord to the
Tenant or Mortgaged Property, or (B) expenses which may be incurred in
order to comply with Rating Agencies' requirements (i.e., reserves for
insurances in the event the Tenant, while currently doing so, is not
obligated pursuant to the Credit Lease to maintain insurances meeting the
requirements of the Rating Agencies, etc.)) to (b) required debt service
payments.
The "Debt Service Coverage Ratio" for any Mortgage Loan is the ratio
of annual Net Cash Flow produced by the related Mortgaged Property to the
annualized amount of debt service that will be payable under that Mortgage
Loan commencing after the origination date. Debt Service Coverage Ratios
measure the ability of a property to service mortgage debt based upon the
existing lease payments due by the Tenant under the Credit Lease. The Net
Cash Flow for a Mortgaged Property is the "net cash flow" of such Mortgaged
Property as set forth in, or determined by, the Mortgage Loan Seller on the
basis of a review of (i) the related Credit Lease, (ii) supporting
confirmation of the matters set forth in the related Credit Lease
(specifically in reliance upon Tenant estoppel certificates and
subordination, attornment and non-disturbance agreements), and (iii) a
review of third-party professional reports (structural engineering/property
site assessments). Net Cash Flow does not reflect interest expenses and
non-cash items such as depreciation and amortization and generally does not
reflect capital expenditures, but does reflect reserves for replacements in
those instances in which the landlord under the Credit Lease is responsible
for specific repair, maintenance and/or capital items.
(iii) References to "Loan per Sq ft" refers to the Cut-Off Date
Balance of such Mortgage Loan divided by the number of square feet, that
comprise the related Mortgaged Property.
(iv) References to "Year Built" are references to the year that a
Mortgaged Property was originally constructed. With respect to any
Mortgaged Property which was constructed in phases, the "Year Built" refers
to the year that the Mortgaged Property was originally constructed or in
the event of substantial renovation or rehabilitation of a Mortgaged
Property, the year in which such renovation or rehabilitation was
completed.
S-48
<PAGE>
(v) References to "weighted averages" are references to averages
weighted on the basis of the Cut-Off Date Balances of the related Mortgage
Loans.
(vi) References to "Mortgage Rate" are references to the interest rate
on a Mortgage Loan set forth in the related Mortgage Note on the Cut-Off
Date.
(vii) References to "Initial Reserves at Closing" represent reserves
escrowed at closing for needed maintenance, repairs, replacements and
corrections of engineering and environmental issues as outlined in the
engineering and environmental reports and for which the borrower may be
responsible. Such amounts typically represent 150% of the costs of the work
outlined in such reports and not completed by closing. With respect to any
amount which was considered to be an obligation of the Tenant pursuant to
the terms of the Credit Lease, a reserve was not established.
(viii) References to "Underwriting Reserves" represent amounts
underwritten on an annual basis to cover capital costs, as used by the
applicable Mortgage Loan Seller in determining net cash flow.
(ix) References to "Stated Remaining Term" are references to the
remaining term to maturity for each Mortgage Loan.
(x) References to "Capitalized Interest Reserve" represent amounts
escrowed by the Mortgage Loan Seller to pay interest only on the Mortgage
Loans deemed to be Construction Loans during the period up to the date upon
which the Tenant under the related Credit Lease is required to make lease
payments which begin to amortize the principal balance of such Mortgage
Loan at the Mortgage Rate.
PROPERTY TYPES
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
---------------------
AGGREGATE % OF AVERAGE HIGHEST
NUMBER OF CUT-OFF INITIAL CUT-OFF CUT-OFF STATED
MORTGAGED DATE POOL DATE DATE MORTGAGE REMAINING
PROPERTY TYPES PROPERTIES BALANCE(1) BALANCE(1) BALANCE(1) BALANCE(1) RATE TERM (MO.)
- -------------- ---------- ---------- ---------- ---------- ---------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Retail
Drug Store 43 $120,115,866 18.59% $ 2,793,392 $ 6,059,817 6.805% 259
Electronic Store 9 57,026,168 8.83 6,336,241 9,557,521 7.940 254
Grocery/
Department Store 3 45,020,588 6.97 15,006,863 18,109,170 7.712 268
Furniture Store 20 32,692,380 5.06 1,634,619 3,175,950 7.480 257
Discount Store 4 22,775,358 3.53 5,693,839 7,525,857 7.770 261
Grocery Store 3 16,332,349 2.53 5,444,116 6,067,932 7.726 289
Other 3 37,779,098 5.85 12,593,033 21,168,827 7.399 240
- ----------------------------------------------------------------------------------------------------------------------------------
SubTotal 85 331,741,806 51.35 3,902,845 21,168,827 7.369 259
Office 9 197,663,315 30.59 21,962,591 67,170,088 7.537 244
Health Club 6 43,688,078 6.76 7,281,346 8,476,308 8.760 250
Office/Garage 1(2) 35,340,416 5.47 35,340,416 35,340,416 7.030 223
Office/Warehouse 1 3,578,055 0.55 3,578,055 3,578,055 6.630 158
Other 40 34,068,861 5.27 851,722 14,135,554 7.320 122
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL/
WTD. AVGS. 142 $646,080,530 100.00% $ 4,549,863 $67,170,088 7.489% 244
</TABLE>
AVERAGE
PROPERTY
LOAN PER SIZE
PROPERTY TYPES SQ FT(1) (SQ FT)
- -------------- -------- -------
Retail
Drug Store 192 18,560
Electronic Store 163 42,279
Grocery/
Department Store 88 173,810
Furniture Store 47 38,829
Discount Store 57 117,051
Grocery Store 94 59,107
Other 135 145,303
- -----------------------------------------------------
SubTotal 138 68,895
Office 211 210,889
Health Club 157 47,066
Office/Garage 530 66,629(3)
Office/Warehouse 178 20,140
Other 133 49,343
- -----------------------------------------------------
TOTAL/
WTD. AVGS. 183 109,436
- ----------
(1) For two (2) Mortgage Loans (Control Numbers 55 and 56), which are each
secured by more than one Mortgaged Property, the Cut-Off Date Balance for
each such Mortgage Loan was allocated by multiplying the Cut-Off Date
Balance for each such Mortgage Loan by the quotient of the appraised value
of the applicable Mortgaged Property relating to such Mortgage Loan by the
aggregate appraised value of the Mortgaged Properties, in each case as of
the date of origination.
(2) The Mortgaged Property for purposes of the Allegheny General Hospital
Mortgage Loan (Control Number 2) includes all the improvements described in
footnote 3 below.
(3) 66,629 square feet is the size of the medical office building only. The
Allegheny General Hospital Mortgage Loan (Control Number 2) also consists
of a 1,200 car parking garage and an 807 car parking garage.
S-49
<PAGE>
GEOGRAPHIC DISTRIBUTION
<TABLE>
<CAPTION>
% OF
NUMBER OF AGGREGATE INITIAL
MORTGAGED CUT-OFF DATE POOL
STATE PROPERTIES BALANCE(1) BALANCE(1)
- ----- ---------- ------------ ----------
<S> <C> <C> <C>
Pennsylvania 44 $161,935,530 25.06%
New York 10 97,371,340 15.07
Washington 8 41,824,546 6.47
Florida 6 40,839,540 6.32
California 11 39,859,678 6.17
Oregon 7 33,343,431 5.16
Illinois 4 29,430,100 4.56
Texas 4 26,994,299 4.18
Tennessee 3 25,168,704 3.90
Michigan 5 25,160,027 3.89
New Jersey 5 23,451,318 3.63
Ohio 7 22,619,768 3.50
Virginia 4 12,567,710 1.95
Vermont 3 9,614,416 1.49
Iowa 4 7,909,216 1.22
Idaho 3 7,254,225 1.12
Colorado 1 6,888,746 1.07
Kansas 1 5,732,593 0.89
Nevada 1 4,967,063 0.77
New Hampshire 2 4,371,015 0.68
Kentucky 2 4,351,148 0.67
Utah 1 3,377,604 0.52
South Carolina 1 3,343,954 0.52
Connecticut 1 2,880,897 0.45
Maine 1 1,826,133 0.28
West Virginia 1 1,241,766 0.19
Montana 1 955,607 0.15
Louisiana 1 800,157 0.12
- ---------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 142 $646,080,530 100.00%
</TABLE>
Total Number of states is 28.
(1) For two (2) Mortgage Loans (Control Numbers 55 and 56), which are each
secured by more than one Mortgaged Property, the Cut-Off Date Balance for
each such Mortgage Loan was allocated by multiplying the Cut-Off Date
Balance for each such Mortgage Loan by the quotient of the appraised value
of the applicable Mortgaged Property relating to such Mortgage Loan by the
aggregate appraised value of the Mortgaged Properties, in each case as of
the date of origination.
YEARS BUILT
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
% OF CUMULATIVE ----------------------------------
NUMBER OF AGGREGATE INITIAL % OF STATED
RANGE OF MORTGAGED CUT-OFF DATE POOL INITIAL POOL MORTGAGE REMAINING SEASONING
YEARS BUILT PROPERTIES BALANCE(1) BALANCE(1) BALANCE(1) RATE TERM (MO.) (MO.)(2)
- ----------- ---------- ------------ ---------- ------------ -------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
1820-1874 1 $ 319,038 0.05% 0.05% 7.460% 112 8
1875-1949 9 3,624,205 0.56 0.61 7.433 113 7
1950-1969 20 20,013,842 3.10 3.71 7.431 232 3
1970-1979 12 28,891,889 4.47 8.18 7.960 271 4
1980-1989 16 125,865,384 19.48 27.66 7.758 223 10
1990-1994 22 129,202,358 20.00 47.66 7.365 258 5
1995-1998 62 338,163,815 52.34 100.00 7.401 246 5
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL
/WTD. AVGS. 142 $646,080,530 100.00% 100.00% 7.489% 244 6
</TABLE>
(1) For two (2) Mortgage Loans (Control Numbers 55 and 56), which are each
secured by more than one Mortgaged Property, the Cut-Off Date Balance for
each such Mortgage Loan was allocated by multiplying the Cut-Off Date
Balance for each such Mortgage Loan by the quotient of the appraised value
of the applicable Mortgaged Property relating to such Mortgage Loan divided
by the aggregate appraised value of the Mortgaged Properties, in each case
as of the date` of origination.
(2) Number of months elapsed since the first Due Date following origination.
S-50
<PAGE>
MORTGAGE RATES
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
% OF CUMULATIVE ----------------------------
RANGE OF NUMBER OF AGGREGATE INITIAL % OF INITIAL STATED
MORTGAGE MORTGAGE CUT-OFF DATE POOL POOL MORTGAGE REMAINING
RATES LOANS BALANCE BALANCE BALANCE RATE TERM (MO.)
------- ------- --------- ------- --------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
6.570%- 6.999% 43 $237,942,514 36.83% 36.83% 6.803% 248
7.000%- 7.124% 3 56,821,610 8.79 45.62 7.038 242
7.125%- 7.249% 2 16,012,022 2.48 48.10 7.146 145
7.250%- 7.374% 2 4,630,738 0.72 48.82 7.324 195
7.375%- 7.499% 22 52,625,686 8.15 56.96 7.468 202
7.500%- 7.624% 3 12,090,549 1.87 58.84 7.598 277
7.625%- 7.749% 13 108,432,912 16.78 75.62 7.677 255
7.750%- 7.874% 4 24,450,696 3.78 79.40 7.826 268
7.875%- 7.999% 1 6,067,932 0.94 80.34 7.950 295
8.250%- 8.374% 1 15,309,449 2.37 82.71 8.350 299
8.500%- 8.624% 3 17,631,336 2.73 85.44 8.610 259
8.750%- 8.874% 7 48,176,498 7.46 92.90 8.765 248
9.000%-10.000% 1 45,888,588 7.10 100.00 9.000 228
- -------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 100.00% 7.489% 244
</TABLE>
ORIGINAL TERMS
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
% OF -----------------------------------------
RANGE OF NUMBER OF AGGREGATE INITIAL STATED
ORIGINAL MORTGAGE CUT-OFF DATE POOL MORTGAGE REMAINING SEASONING
TERM LOANS BALANCE BALANCE RATE TERM (MO.) (MO.)(1)
------ ------- ------- --------- -------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C>
10 Year Balloon 2 $ 19,933,306 3.09% 7.448% 113 7
11 to 14 Year Balloon 1 14,135,554 2.19 7.140 135 2
16 to 20 Year Balloon 1 21,168,827 3.28 6.960 235 2
21 to 25 Year Balloon 37 108,778,693 16.84 6.739 261 3
- -------------------------------------------------------------------------------------------------------------------------
Balloon Sub Total 41 164,016,381 25.39 6.888 229 3
Fully Amortizing 64 482,064,149 74.61 7.694 249 7
- -------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 7.489% 244 6
</TABLE>
- ----------
(1) Number of months elapsed since the first Due Date following origination.
STATED REMAINING TERMS
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
RANGE OF % OF CUMULATIVE ----------------------------
STATED NUMBER OF AGGREGATE INITIAL % OF INITIAL STATED
REMAINING MORTGAGE CUT-OFF DATE POOL POOL MORTGAGE REMAINING
TERMS (MO.) LOANS BALANCE BALANCE BALANCE RATE TERM (MO.)
- ----------- ------- --------- ------- --------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
112-120 2 $ 19,933,306 3.09% 3.09% 7.448% 113
121-228 10 132,714,684 20.54 23.63 7.754 205
229-240 4 37,546,980 5.81 29.44 7.456 234
241-300 89 455,885,560 70.56 100.00 7.417 262
- -------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 100.00% 7.489% 244
</TABLE>
S-51
<PAGE>
CUT-OFF DATE BALANCES
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
RANGE OF % OF CUMULATIVE ----------------------
CUT-OFF NUMBER OF AGGREGATE INITIAL % OF INITIAL STATED
DATE MORTGAGE CUT-OFF DATE POOL POOL MORTGAGE REMAINING
BALANCES LOANS BALANCE BALANCE BALANCE RATE TERM (MO.)
-------- -------- ------------ ------- ----------- -------- ----------
<S> <C> <C> <C> <C> <C> <C>
$ 800,157-$ 999,999 2 $ 1,755,763 0.27% 0.27% 7.480% 257
$ 1,000,000-$ 1,999,999 25 40,596,897 6.28 6.56 7.300 253
$ 2,000,000-$ 2,999,999 21 51,996,217 8.05 14.60 6.850 259
$ 3,000,000-$ 3,999,999 15 50,645,938 7.84 22.44 6.978 238
$ 4,000,000-$ 4,999,999 7 31,361,274 4.85 27.30 7.169 261
$ 5,000,000-$ 5,999,999 7 38,641,428 5.98 33.28 8.093 265
$ 6,000,000-$ 6,999,999 5 32,380,042 5.01 38.29 7.994 269
$ 7,000,000-$ 7,999,999 4 29,223,147 4.52 42.81 8.218 239
$ 8,000,000-$ 8,999,999 3 24,969,135 3.86 46.68 8.389 251
$ 9,000,000-$ 9,999,999 2 18,758,716 2.90 49.58 7.753 244
$10,000,000-$14,999,999 4 53,168,823 8.23 57.81 7.537 229
$15,000,000-$19,999,999 6 103,015,231 15.94 73.75 7.337 229
$20,000,000-$24,999,999 1 21,168,827 3.28 77.03 6.960 235
$25,000,000-$39,999,999 1 35,340,416 5.47 82.50 7.030 223
$40,000,000-$67,170,088 2 113,058,676 17.50 100.00 7.746 244
- --------------------------------------------------------------------------------------------------------------------------
TOTAL /WTD. AVGS. 105 $646,080,530 100.00% 100.00% 7.489% 244
</TABLE>
- ----------
Average Cut-Off Date Balance is $6,153,148.
YEARS OF SCHEDULED MATURITY
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
% OF CUMULATIVE ----------------------
SCHEDULED NUMBER OF AGGREGATE INITIAL % OF INITIAL STATED
MATURITY MORTGAGE CUT-OFF DATE POOL POOL MORTGAGE REMAINING
YEAR LOANS BALANCE BALANCE BALANCE RATE TERM(MO.)
-------- -------- ----------- ------- ------------ -------- ---------
<S> <C> <C> <C> <C> <C> <C>
2007 2 $ 19,933,306 3.09% 3.09% 7.448% 113
2009 1 14,135,554 2.19 5.27 7.140 135
2011 1 3,578,055 0.55 5.83 6.630 158
2012 1 17,912,875 2.77 8.60 6.900 172
2013 1 3,055,623 0.47 9.07 7.360 180
2015 1 7,525,857 1.16 10.24 7.710 207
2016 4 40,618,131 6.29 16.52 7.073 223
2017 4 80,747,031 12.50 29.02 8.326 231
2018 2 18,572,552 2.87 31.90 6.789 245
2019 76 324,848,176 50.28 82.18 7.368 256
2020 4 48,470,551 7.50 89.68 7.631 268
2021 4 35,199,590 5.45 95.13 7.340 277
2022 2 10,787,683 1.67 96.80 7.806 293
2023 2 20,695,546 3.20 100.00 8.209 299
- ---------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 100.00% 7.489% 244
</TABLE>
S-52
<PAGE>
PREPAYMENT RESTRICTIONS AND DEFEASANCE BY CATEGORIES
<TABLE>
<CAPTION>
WEIGHTED AVERAGE
WEIGHTED REMAINING LOCKOUT OR WEIGHTED
% OF AVERAGE DEFEASANCE TERM (MO.)/ AVERAGE # OF
NUMBER OF AGGREGATE INITIAL STATED % OF WEIGHTED AVERAGE MONTHS OPEN TO
MORTGAGE CUT-OFF DATE POOL REMAINING STATED REMAINING TERM PREPAYMENT PRIOR
PREPAYMENT RESTRICTION LOANS BALANCE BALANCE TERM (MO.) OF LOCKOUT TO MATURITY
- ---------------------- -------- ------------ ------- ---------- ---------------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
Lockout, then Lockout with
Defeasance 102 $621,872,790 96.25% 246 245 99.69% 1
Lockout, then Lockout with
Defeasance, then Static
Percentage Premiums 1 17,912,875 2.77 172 102 59.30 0
Lockout, then Lockout with
Defeasance, then 5%
Percentage Premium (1) 1 4,719,750 0.73 291 171 58.76 4
Lockout, then Lockout with
Yield Maintenance 1 1,575,115 0.24 223 103 46.19 6
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD AVGS. 105 $646,080,530 100.00% 244 240 98.14% 1
</TABLE>
- ----------
(1) The lesser of 5% Percentage Premium or Yield Maintenance.
PREPAYMENT RESTRICTIONS AND DEFEASANCE BY ORIGINAL TERM
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
----------------------
% OF STATED
NUMBER OF AGGREGATE INITIAL REMAINING
MORTGAGE CUT-OFF DATE POOL MORTGAGE TERM
ORIGINAL TERM PREPAYMENT RESTRICTION LOANS BALANCE BALANCE RATE (MO.)
- ------------- ---------------------- --------- ------------ ------- -------- ---------
<S> <C> <C> <C> <C> <C> <C>
10 Year Balloon Lockout, then Lockout
with Defeasance 2 $ 19,933,306 3.09% 7.448% 113
11 to 14 Year Balloon Lockout, then Lockout
with Defeasance 1 14,135,554 2.19 7.140 135
16 to 20 Year Balloon Lockout, then Lockout
with Defeasance 1 21,168,827 3.28 6.960 235
21 to 25 Year Balloon Lockout, then Lockout
with Defeasance 37 108,778,693 16.84 6.739 261
- ---------------------------------------------------------------------------------------------------------------------------
Balloon SubTotal 41 164,016,381 25.39 6.888 229
- ---------------------------------------------------------------------------------------------------------------------------
Fully Amortizing Lockout, then Lockout
with Defeasance 61 457,856,410 70.87 7.727 252
Lockout, then Lockout with
Defeasance, then Static
Percentage Premiums 1 17,912,875 2.77 6.900 172
Lockout, then Lockout with
Defeasance, then
5% Percentage Premium (1) 1 4,719,750 0.73 7.620 291
Lockout, then Yield Maintenance 1 1,575,115 0.24 7.253 223
- ---------------------------------------------------------------------------------------------------------------------------
SubTotal 64 482,064,149 74.61 7.694 249
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 7.489% 244
</TABLE>
WEIGHTED AVERAGES
---------------------------------------
REMAINING
LOCKOUT OR MONTHS
DEFEASANCE OPEN
TERM MONTHS MONTHS PRIOR TO
ORIGINAL TERM (MO.) YM PP MATURITY
- ------------- ---------- ------ ------ --------
10 Year Balloon 113 0 0 0
11 to 14 Year Balloon 135 0 0 0
16 to 20 Year Balloon 232 0 0 2
21 to 25 Year Balloon 261 0 0 0
- ----------------------------------------------------------------------
228 0 0 0
- ----------------------------------------------------------------------
Fully Amortizing 251 0 0 1
102 0 70 0
171 116 0 4
103 114 0 6
- ----------------------------------------------------------------------
244 2 3 1
- ----------------------------------------------------------------------
240 1 2 1
- ----------
(1) The lesser of 5% Percentage Premium or Yield Maintenance.
S-53
<PAGE>
PREPAYMENT LOCK-OUT/ PREMIUM ANALYSIS
<TABLE>
<CAPTION>
CURRENT 12 MO. 24 MO. 36 MO. 48 MO. 60 MO. 72 MO. 84 MO.
PREPAYMENT MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH
RESTRICTION 1998 1999 2000 2001 2002 2003 2004 2005
----------- ------- ----- ----- ----- ----- ----- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Locked Out (1) 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Yield Maintenance 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Percentage Premium
5.00% and greater 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
4.00 to 4.99% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3.00 to 3.99% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2.00 to 2.99% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.99 to 1.99% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Open 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
- ---------------------------------------------------------------------------------------------------------
TOTALS 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Mortgage Pool
Balance
($millions) $646.1 $636.7 $624.4 $612.2 $598.8 $583.7 $567.1 $548.5
% of Initial Pool
Balance 100.0% 98.5% 96.6% 94.7% 92.7% 90.3% 87.8% 84.9%
</TABLE>
<TABLE>
<CAPTION>
96 MO. 108 MO. 120 MO. 132 MO. 144 MO. 156 MO. 168 MO. 180 MO.
PREPAYMENT MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH
RESTRICTION 2006 2007 2008 2009 2010 2011 2012 2013
----------- ------ ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Locked Out (1) 100.0% 97.8% 98.0% 98.3% 98.6% 99.1% 99.6% 98.9%
Yield Maintenance 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Percentage Premium
5.00% and greater 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9
4.00 to 4.99% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3.00 to 3.99% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2.00 to 2.99% 0.0 2.0 1.8 0.0 0.0 0.0 0.0 0.0
0.99 to 1.99% 0.0 0.0 0.0 1.5 1.2 0.8 0.2 0.0
Open 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
- -------------------------------------------------------------------------------------------------------
TOTALS 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Mortgage Pool
Balance
($millions) $528.2 $506.1 $468.1 $442.1 $404.0 $373.3 $340.5 $306.1
% of Initial Pool
Balance 81.8% 78.3% 72.4% 68.4% 62.5% 57.8% 52.7% 47.4%
</TABLE>
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(1) Includes any period in which Defeasance Collateral may be substituted.
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THE MORTGAGE LOAN SELLER
On or prior to the Closing Date, the Depositor will acquire the Mortgage
Loans from the Mortgage Loan Seller pursuant to an agreement (the "Mortgage Loan
Purchase Agreement"). The Mortgage Loan Seller acquired or originated the
Mortgage Loans as described above under "--General."
ASSIGNMENT OF THE MORTGAGE LOANS; REPURCHASES
On or prior to the Closing Date, the Depositor will transfer the Mortgage
Loans, without recourse, to the Trustee for the benefit of the
Certificateholders. In connection with such transfer, the Depositor will require
the Mortgage Loan Seller to deliver to the Trustee or to a document custodian
appointed by the Trustee (a "Custodian"), among other things, the following
documents with respect to each Mortgage Loan (collectively, as to each Mortgage
Loan, the "Mortgage File"): (i) the original Mortgage Note, endorsed, without
recourse, to the order of the Trustee; (ii) the original or a copy of the
Mortgage, together with an original or copy of any intervening assignments of
the Mortgage, in each case with evidence of recording indicated thereon; (iii)
the original or a copy of any related assignment of leases (if such item is a
document separate from the Mortgage), together with an original or a copy of any
intervening assignments of any such assignments of leases, in each case with
evidence of recording indicated thereon; (iv) an original assignment of the
Mortgage in favor of the Trustee and in recordable form; (v) an original
assignment of any related assignment of leases (if such item is a document
separate from the Mortgage) in favor of the Trustee and in recordable form; (vi)
originals or copies of all written modification agreements in those instances in
which the terms or provisions of the Mortgage or Mortgage Note have been
modified; (vii) the original or a copy of the policy or certificate of lender's
title insurance issued on the date of the origination of such Mortgage Loan, or,
if such policy has not been issued, an irrevocable, binding commitment to issue
such title insurance policy; (viii) any file copies of any UCC financing
statements in the possession of the Mortgage Loan Seller; (ix) an original
assignment in favor of the Trustee of any financing statement executed and filed
in favor of the Mortgage Loan Seller in the relevant jurisdiction; (x) the
Credit Lease; (xi) the Lease Guaranty, if any; (xii) the related tenant
estoppels, subordination and other agreements; (xiii) the Lease Enhancement
Policy, if any; and (xiv) the Residual Value Insurance Policy, if any.
The Trustee or a Custodian on its behalf will be required to review each
Mortgage File within a specified period following its receipt thereof. If any of
the above-described documents is found during the course of such review to be
missing from any Mortgage File or defective, and in either case such omission or
defect materially and adversely affects the interests of the Certificateholders
or the value of the affected Mortgage Loan, the Mortgage Loan Seller, if it
cannot deliver the document or cure the defect (other than omissions solely due
to a document not having been returned by the related recording office) within a
period of 90 days following its receipt of notice thereof, will be obligated
pursuant to the Mortgage Loan Purchase Agreement (the relevant rights under
which will be assigned by the Depositor to the Trustee) to repurchase the
affected Mortgage Loan within such 90-day period at a price (the "Purchase
Price") generally equal to the sum of (i) the unpaid principal balance of such
Mortgage Loan, (ii) unpaid accrued interest on such Mortgage Loan (calculated at
the applicable Mortgage Rate) to but not including the Due Date in the
Collection Period in which the purchase is to occur and (iii) certain Additional
Trust Fund Expenses in respect of such Mortgage Loan, including but not limited
to, servicing expenses that are reimbursable to the Master Servicer, the Special
Servicer or the Trustee plus any interest thereon and on any related P&I
Advances; provided, that the Mortgage Loan Seller will have an additional 90-day
period to deliver the document or cure the defect, as the case may be, if it is
diligently proceeding to effect such delivery or cure, has delivered to the
Trustee an officer's certificate that describes the reasons that such delivery
or cure was not effected within the first 90-day cure period and the actions it
proposes to take to effect such delivery or cure, and which states that it
anticipates such delivery or cure will be effected within the additional 90-day
period, and such defect does not relate to any Mortgage Loan not being treated
as a "qualified mortgage" within the meaning of the REMIC Provisions; provided,
further, that for a period of two years from the Closing Date, the Mortgage Loan
Seller will have additional 90-day periods to complete such cure as long as the
Mortgage Loan Seller continues to provide officer's certificates as described
above. The foregoing repurchase obligation will constitute the sole remedy
available to the Certificateholders and the Trustee for any uncured failure to
deliver, or any uncured defect in, a constituent Mortgage Loan document. The
Mortgage Loan Seller will be solely responsible for such repurchase obligation,
and such obligation will not be the responsibility of the Depositor or any of
its other affiliates.
The Pooling and Servicing Agreement will require that each of the
assignments described in clauses (iv), (v) and (ix) of the second preceding
paragraph be promptly (and in any event within 60 days after the later of the
delivery of a
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complete Mortgage File or the Closing Date) submitted for recording in the real
property records of the jurisdiction in which the related Mortgaged Property is
located. See "DESCRIPTION OF THE POOLING AGREEMENTS--Assignment of Mortgage
Loans; Repurchases" in the Prospectus.
REPRESENTATIONS AND WARRANTIES; REPURCHASES
In the Mortgage Loan Purchase Agreement, the Mortgage Loan Seller will
represent and warrant with respect to each related Mortgage Loan (subject to
certain exceptions specified in the related Mortgage Loan Purchase Agreement),
as of the Closing Date, or as of such other date specifically provided in the
representation and warranty, among other things, generally that: (i) the
information set forth in the schedule of Mortgage Loans attached to the Mortgage
Loan Purchase Agreement (which contains certain of the information set forth in
Annex A) is true and correct in all material respects as of the Cut-Off Date;
(ii) the Mortgage Loan Seller owns the Mortgage Loan and is transferring the
Mortgage Loan free and clear of any and all liens, pledges, charges or security
interests; (iii) the proceeds of the Mortgage Loan have been fully disbursed and
there is no requirement for future advances thereunder; (iv) each of the related
Mortgage Note, related Mortgage and other agreements executed in connection
therewith is the legal, valid and binding obligation of the maker thereof
(subject to any non-recourse provisions contained in any of the foregoing
agreements and any applicable state anti-deficiency legislation), enforceable in
accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of creditors' rights generally, and by general
principles of equity (regardless of whether such enforcement is considered in a
proceeding in equity or at law); (v) the assignment of the related Mortgage to
the Trustee on behalf of the Certificateholders constitutes the legal, valid and
binding assignment of such Mortgage, except as the enforcement of such
assignment may be limited by bankruptcy, insolvency, reorganization,
liquidation, receivership, moratorium or other laws relating to or affecting
creditors' rights generally or by general principles of equity (regardless of
whether such enforcement is considered in a proceeding in equity or at law);
(vi) the related Mortgage is a valid first priority lien in the outstanding
principal amount of the related Mortgage Loan, except for (A) the lien of
current real property taxes, ground rents, water charges, sewer rents and
assessments not yet due and payable, (B) covenants, conditions and restrictions,
rights of way, easements and other matters that are of public record, and (C)
the exceptions set forth in the related title insurance policy; (vii) taxes that
would be a lien on the related Mortgaged Property and that prior to the Cut-Off
Date have become due and owing were paid, or an escrow of funds sufficient to
cover such payment had been established or the payment thereof is the
responsibility of the Tenant pursuant to the related Credit Lease; (viii) as of
the Cut-Off Date, no scheduled payment of principal or interest was 30 days or
more past due; (ix) the Mortgage Loan Seller has not received any notice of any
proceeding for the total or partial condemnation of any material portion of the
related Mortgaged Property and to the Mortgage Loan Seller's knowledge, the
Mortgaged Property is free and clear of any material damage that would
materially and adversely affect its value as security for the Mortgage Loan; (x)
the related Mortgaged Property is covered by a lender's title insurance policy
insuring that the related Mortgage is a valid first lien on such Mortgaged
Property, subject only to the exceptions stated therein; (xi) each Mortgage Loan
represents a "qualified mortgage" within the meaning of Section 860G(a)(3) of
the Code; (xii) any Prepayment Premium constitutes a "customary prepayment
penalty" within the meaning of Treasury Regulations Section 1.860G-l(b)(2); and
(xiii) the Mortgage Loan Seller has no knowledge of any material and adverse
environmental condition or circumstance affecting any Mortgaged Property that
was not disclosed in the report of the environmental assessment of the Mortgaged
Property performed by, or on behalf of, or otherwise relied upon by, the
Mortgage Loan Seller.
In the case of a breach of any of the foregoing representations and
warranties that materially and adversely affects the interests of the
Certificateholders or the value of the affected Mortgage Loan, the Mortgage Loan
Seller, if it cannot cure such breach within a period of 90 days following its
receipt of notice thereof, will be obligated pursuant to the Mortgage Loan
Purchase Agreement (the relevant rights under which will be assigned by the
Depositor to the Trustee) to repurchase the affected Mortgage Loan within such
90-day period at the applicable Purchase Price; provided, that the Mortgage Loan
Seller will generally have an additional 90-day period to cure such breach if it
is diligently proceeding with such cure, and has delivered to the Trustee an
officer's certificate that describes the reasons that a cure was not effected
within the first 90-day cure period and the actions it proposes to take to
effect such cure and which states that it anticipates such cure will be effected
within the additional 90-day period.
The foregoing repurchase obligation will constitute the sole remedy
available to the Certificateholders and the Trustee for any uncured breach of
the Mortgage Loan Seller's representations and warranties regarding the
applicable Mortgage Loans. The Mortgage Loan Seller will be the sole warranting
party in respect of the Mortgage Loans sold by
S-56
<PAGE>
the Mortgage Loan Seller to the Depositor, and neither the Depositor nor any of
its affiliates will be obligated to repurchase any such affected Mortgage Loan
in connection with a breach of the Mortgage Loan Seller's representations and
warranties if the Mortgage Loan Seller defaults on its obligation to do so. See
"DESCRIPTION OF THE POOLING AGREEMENTS--Representations and Warranties;
Repurchases" in the Prospectus.
CHANGES IN MORTGAGE POOL CHARACTERISTICS
The description in this Prospectus Supplement of the Mortgage Pool and the
Mortgaged Properties is based upon the Mortgage Pool as expected to be
constituted at the time the Offered Certificates are issued. Prior to the
issuance of the Offered Certificates, a Mortgage Loan may be removed from the
Mortgage Pool if the Depositor deems such removal necessary or appropriate or if
it is prepaid. A limited number of other mortgage loans may be included in the
Mortgage Pool prior to the issuance of the Offered Certificates, unless
including such mortgage loans would materially alter the characteristics of the
Mortgage Pool as described herein. The Depositor believes that the information
set forth herein will be representative of the characteristics of the Mortgage
Pool as it will be constituted at the time the Offered Certificates are issued,
although the range of Mortgage Rates, maturities and certain other
characteristics of such Mortgage Loans may vary.
A Current Report on Form 8-K (the "Form 8-K") will be available to
purchasers of the Offered Certificates on or shortly after the Closing Date and
will be filed, together with the Pooling and Servicing Agreement, with the
Securities and Exchange Commission within fifteen days after the initial
issuance of the Offered Certificates. If Mortgage Loans are removed from or
added to the Mortgage Pool as described in the preceding paragraph, such removal
or addition will be noted in the Form 8-K.
SERVICING OF THE MORTGAGE LOANS
GENERAL
The Master Servicer and the Special Servicer, either directly or through
sub-servicers, will be required to service and administer the Mortgage Loans on
behalf of the Trust Fund and in the best interests of and for the benefit of the
Certificateholders (as determined by the Master Servicer or Special Servicer in
its good faith and reasonable judgment), in accordance with applicable law, the
terms of the Pooling and Servicing Agreement, the terms of the respective
Mortgage Loans and, to the extent consistent with the foregoing, (a) (i) with
the same care, skill and diligence as is normal and usual in its general
mortgage servicing activities and asset management activities on behalf of third
parties or on behalf of itself, whichever is higher, with respect to mortgage
loans that are comparable to the Mortgage Loans; (ii) with a view to the timely
collection of all scheduled payments of principal and interest under the
Mortgage Loans or, if a Mortgage Loan comes into and continues in default and
if, in the good faith and reasonable judgment of the Special Servicer, no
satisfactory arrangements can be made for the collection of the delinquent
payments, the maximization of the recovery on such Mortgage Loan to the
Certificateholders (as a collective whole) on a present value basis (the
relevant discounting of anticipated collections that will be distributable to
Certificateholders to be performed at the related Net Rate); and (iii) without
regard to (A) any relationship that the Master Servicer or the Special Servicer,
as the case may be, or any affiliate thereof may have with the related borrower,
(B) the ownership of any Certificate by the Master Servicer or the Special
Servicer, as the case may be, or by any affiliate thereof, (C) the Master
Servicer's obligation to make Advances, (D) the Special Servicer's obligation to
make (or to direct the Master Servicer to make) Advances, and (E) the right of
the Master Servicer (or any affiliate thereof) or the Special Servicer (or any
affiliate thereof), as the case may be, to receive reimbursement of costs, or
the sufficiency of any compensation payable to it, hereunder or with respect to
any particular transaction (the conditions set forth in the immediately
foregoing clauses (i) and (ii), the "Servicing Standard").
Set forth below, following the subsection captioned "--The Special
Servicer," is a description of certain pertinent provisions of the Pooling and
Servicing Agreement relating to the servicing of the Mortgage Loans. Reference
is also made to the Prospectus, in particular to the section captioned
"DESCRIPTION OF THE POOLING AGREEMENTS," for important information in addition
to that set forth herein regarding the terms and conditions of the Pooling and
Servicing Agreement as they relate to the rights and obligations of the Master
Servicer and the Special Servicer thereunder. The Special Servicer generally
will have all of the rights to indemnity and reimbursement, and limitations on
liability, that the Master Servicer is described as having in the Prospectus and
the Special Servicer rather than the Master Servicer will perform certain of the
servicing duties described in the Prospectus with respect to Specially Serviced
Mortgage Loans and REO Properties (each as described herein).
S-57
<PAGE>
The information set forth herein concerning the Master Servicer and the
Special Servicer has been provided by the Master Servicer and the Special
Servicer, respectively, and neither of the Depositor nor any Underwriter makes
any representation or warranty as to the accuracy or completeness of such
information.
THE MASTER SERVICER
GMAC Commercial Mortgage Corporation ("GMACCM"), a corporation organized
under the laws of the State of California, is a wholly-owned direct subsidiary
of GMAC Mortgage Group, Inc., which in turn is a wholly-owned direct subsidiary
of General Motors Acceptance Corporation ("GMAC"), in its capacity as master
servicer under the Pooling and Servicing Agreement (in such capacity, the
"Master Servicer"), will be responsible for servicing the Mortgage Loans. The
Master Servicer will conduct property inspections on the Mortgaged Properties
and prepare reports, as set forth in the Pooling and Servicing Agreement.
Although the Master Servicer is authorized to employ agents, including
sub-servicers, to directly service the Mortgage Loans that are not Specially
Serviced Mortgage Loans, the Master Servicer will remain liable for its
servicing obligations under the Pooling and Servicing Agreement. The Master
Servicer's principal servicing offices are located at 650 Dresher Road, Horsham,
Pennsylvania 19044. Its telephone number is (215) 328-4622. As of December 31,
1997, GMACCM was the servicer of a portfolio of multifamily and commercial
mortgage loans totaling approximately $40 billion in aggregate outstanding
principal amounts.
THE SPECIAL SERVICER
The initial Special Servicer will be GMACCM. The Special Servicer will be
responsible for performing certain servicing functions with respect to Mortgage
Loans that, in general, are in default or as to which default is imminent, for
administering any REO Property and for performing certain other servicing
functions with respect to the Mortgage Pool under the Pooling and Servicing
Agreement. One or more affiliates of the Special Servicer may purchase all of
the Class G, Class H, Class J and Class K Certificates on or about the Closing
Date.
The Pooling and Servicing Agreement permits the holder (or holders) of the
majority of the Voting Rights allocated to holders of the Controlling Class of
Sequential Pay Certificates to replace the Special Servicer or any successor and
to select a representative (the "Controlling Class Representative") from whom
the Special Servicer will seek advice and approval and take direction under
certain circumstances. The "Controlling Class of Sequential Pay Certificates" is
the Class of Sequential Pay Certificates that has the latest alphabetical Class
designation and that has a Certificate Balance that is greater than 20% of its
original Certificate Balance (or if no Classes of Sequential Pay Certificates
has a Certificate Balance that is greater then 20% of its original Certificate
Balance, the Class of Sequential Pay Certificates with the latest alphabetical
Class designation). The Class A-1, Class A-2 and Class A-3 Certificates will be
treated as one Class for determining the Controlling Class of Sequential Pay
Certificates. Any replacement of a Special Servicer by the Controlling Class of
Sequential Pay Certificates will be subject to, among other things, (i) the
delivery of notice of the proposed replacement to the Rating Agencies and
receipt of notice from the Rating Agencies that the replacement will not result
in a qualification, downgrade or withdrawal of any of the then current ratings
assigned to the Certificates, and (ii) the written agreement of the successor
Special Servicer to be bound by the terms and conditions of the Pooling and
Servicing Agreement. Subject to the foregoing, any Certificateholder or
affiliate thereof may be appointed as Special Servicer. See "DESCRIPTION OF
CERTIFICATES--Voting Rights" herein.
The Special Servicer will be responsible for servicing and administering
any Mortgage Loan as to which (a) any Periodic Payment shall be delinquent 45 or
more days (or, in the case of a Balloon Payment, if the Master Servicer
determines that the related borrower has obtained a commitment to refinance,
such longer period of delinquency (not to exceed 120 days) within which such
refinancing is expected to occur); (b) the Master Servicer shall have determined
that a default in making a Periodic Payment is likely to occur within 30 days
and is likely to remain unremedied for at least 60 days (or, in the case of a
Balloon Payment, if the Master Servicer determines that the related borrower has
obtained a commitment to refinance, such longer period of delinquency (not to
exceed 120 days) within which such refinancing is expected to occur); (c) there
shall have occurred a default (other than as described in clause (a) above) that
materially impairs the value of the Mortgaged Property as security for the
Mortgage Loan or otherwise materially adversely affects the interests of
Certificateholders and that continues unremedied for the applicable grace period
under the terms of the Mortgage Loan (or, if no grace period is specified, for
30 days); (d) a decree or order
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under any bankruptcy, insolvency or similar law shall have been entered against
the related borrower and such decree or order shall have remained in force,
undischarged or unstayed for a period of 60 days; (e) the related borrower shall
have consented to (or be subject to) the appointment of a conservator or
receiver or liquidator in any insolvency or similar proceedings of or relating
to such related borrower or relating to all or substantially all of its
property; (f) the related borrower shall have admitted in writing its inability
to pay its debts generally as they become due, filed a petition to take
advantage of any applicable insolvency or reorganization statute, made an
assignment for the benefit of its creditors, or voluntarily suspended payment of
its obligations; (g) the Master Servicer shall have received notice of the
commencement of foreclosure or similar proceedings with respect to the related
Mortgaged Property; or (h) the borrower shall have been materially delinquent
with respect to payment of insurance premiums or property taxes, including
making escrow payments for the payment of insurance premiums or property taxes.
Notwithstanding the foregoing, if a loan default occurs solely due to the Master
Servicer's having made a Protective Advance as described below, such default
will not result in a Mortgage Loan becoming a Specially Serviced Mortgage Loan
unless such Protective Advance subsequently becomes a Nonrecoverable Advance.
In the event of any of the foregoing with respect to any Mortgage Loan, the
Master Servicer is required to use its reasonable efforts to cause the transfer
of its servicing responsibilities with respect thereto to the Special Servicer
within five business days. Notwithstanding such transfer, the Master Servicer
will continue to receive payments on such Mortgage Loan (including amounts
collected by the Special Servicer), to make certain calculations with respect to
such Mortgage Loan, and to make remittances (including, if necessary, Advances)
and prepare certain reports to the Trustee with respect to such Mortgage Loan.
If title to the related Mortgaged Property is acquired by the Trust Fund (upon
acquisition, an "REO Property"), whether through foreclosure, deed in lieu of
foreclosure or otherwise, the Special Servicer will continue to be responsible
for the operation and management thereof. Mortgage Loans serviced by the Special
Servicer are referred to herein as "Specially Serviced Mortgage Loans" and,
together with any REO Properties, constitute "Specially Serviced Trust Fund
Assets."
A Mortgage Loan will cease to be a Specially Serviced Mortgage Loan (and
will become a "Corrected Mortgage Loan" as to which the Master Servicer will
reassume servicing responsibilities):
(v) with respect to the circumstances described in clause (a) of the
second preceding paragraph, when the related borrower has made three
consecutive full and timely Periodic Payments under the terms of such
Mortgage Loan (as such terms may be changed or modified in connection with
a bankruptcy or similar proceeding involving the related borrower or by
reason of a modification, waiver or amendment granted or agreed to by the
Special Servicer);
(w) with respect to any of the circumstances described in clauses (b),
(d), (e) and (f) of the second preceding paragraph, when such circumstances
cease to exist in the good faith, reasonable judgment of the Special
Servicer, but, with respect to any bankruptcy or insolvency proceedings
described in clauses (d), (e) and (f), no later than the entry of an order
or decree dismissing such proceeding;
(x) with respect to the circumstances described in clause (c) of the
second preceding paragraph, when such default is cured;
(y) with respect to the circumstances described in clause (g) of the
second preceding paragraph, when such proceedings are terminated; and
(z) with respect to the circumstances described in clause (h) of the
second preceding paragraph, when such delinquency is cured;
so long as at that time no circumstance identified in such clauses (a) through
(h) in the second preceding paragraph exists that would cause the Mortgage Loan
to continue to be characterized as a Specially Serviced Mortgage Loan.
INSPECTIONS
The Special Servicer will be required to perform or cause to be performed a
physical inspection of a Mortgaged Property as soon as practicable after the
related Mortgage Loan becomes a Specially Serviced Mortgaged Loan. In addition,
the Master Servicer, with respect to the non-Specially Serviced Mortgage Loans,
and the Special Servicer with respect to the Specially Serviced Mortgage Loans,
will be required to inspect or cause the inspection of each Mortgaged Property
once every three (3) calendar years if the related Tenant has a published rating
of not less than
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Baa3/BBB- (Moody's and S&P, respectively), every two (2) years if the related
Tenant (or Guarantor) has a published rating between Ba1/BB+ and Ba3-/BB-, and
annually if the related Tenant has a published rating of less than Ba3/BB-. If a
published rating is not available, such Mortgaged Property will be inspected
annually for each Mortgage Loan representing 5% or more of the Initial Pool
Balance and every second year for every other such Mortgage Loan. Additionally,
should any Tenant (or Guarantor) have its published rating downgraded by either
of S&P or Moody's greater than one (1) rating increment (i.e., Aa/AA to A/A, or
Baa3/BBB- to Ba3/BB-), then the Master Servicer or the Special Servicer, as
applicable, shall cause all Mortgaged Properties leased to such Tenant to be
inspected as soon as reasonably practical. Thereafter, as to each such Mortgaged
Property inspected due to such downgrade, the Master Servicer shall inspect the
Mortgaged Property in the frequency as set forth in the second sentence of this
paragraph as is applicable to such rating. The Master Servicer and the Special
Servicer will each be required to prepare or cause to be prepared a written
report of each such inspection performed by it that describes the condition of
the Mortgaged Property and that specifies the existence with respect thereto of
any sale, transfer or abandonment or any material change in its condition or
value that is apparent from such inspection.
Copies of the inspection reports referred to above are required to be
available for review by Certificateholders during normal business hours at the
offices of the Trustee. See "DESCRIPTION OF THE CERTIFICATES--Reports to
Certificateholders; Available Information" herein.
SERVICING AND OTHER COMPENSATION AND PAYMENT OF EXPENSES
The primary compensation to be paid to the Master Servicer in respect of
its servicing activities (including fees to be paid to any sub-servicer) will be
the Master Servicing Fee (together with the Special Servicing Fee, the
"Servicing Fees"). The "Master Servicing Fee" will be payable monthly on a
loan-by-loan basis from amounts received in respect of interest on each Mortgage
Loan or as otherwise described herein, will accrue at the related Master
Servicing Fee Rate and will be computed on the basis of the same principal
amount and for the same period respecting which any related interest payment due
on the Mortgage Loan is computed. The "Master Servicing Fee Rate" will be a per
annum rate equal to 0.04%. In addition, as additional servicing compensation,
the Master Servicer, in addition to Prepayment Interest Excesses and with
respect to Mortgage Loans that are not Specially Serviced Mortgage Loans, and
the Special Servicer, with respect to such Specially Serviced Mortgage Loans,
will be entitled to retain all assumption and modification fees, late charges,
exit fees, default interest or repayment fees collected from borrowers on the
related Mortgage Loans. The Master Servicer is authorized to invest or direct
the investment of funds held in the Certificate Account in certain short-term
United States government securities and other investment grade obligations, and
the Master Servicer will be entitled to retain any interest or other income
earned on such funds, but shall be required to cover any losses from its own
fund without any right to reimbursement.
If a borrower voluntarily prepays a Mortgage Loan on a date that is prior
to its Due Date in a Collection Period, the amount of interest (net of the
related Master Servicing Fee and Additional Servicing Fee) that accrues on the
Mortgage Loan during such Collection Period will be less (such shortfall, a
"Prepayment Interest Shortfall") than the amount of interest (net of related
Servicing Fees and without regard to any Prepayment Premium or Yield Maintenance
Charge actually collected) that would have accrued on the Mortgage Loan through
its Due Date. If such a principal prepayment occurs during any Collection Period
after the Due Date for such Mortgage Loan in such Collection Period, the amount
of interest (net of related Servicing Fees and the Trustee Fee) that accrues and
is collected on the Mortgage Loans during such Collection Period will exceed
(such excess, a "Prepayment Interest Excess") the amount of interest (net of
related Servicing Fee and the Trustee Fee and without regard to any Prepayment
Premium or Yield Maintenance Charge actually collected) that would have been
collected on the Mortgage Loan during such Collection Period if the borrower had
not prepaid. Any Prepayment Interest Excesses collected will be paid to the
Master Servicer as additional servicing compensation. However, with respect to
each Distribution Date, the Master Servicer will be required to deposit into the
Certificate Account (such deposit, a "Compensating Interest Payment"), without
any right of reimbursement therefor, an amount equal to the lesser of (i) its
total servicing compensation for the related Collection Period, including any
Prepayment Interest Excesses received during such Collection Period, and (ii)
the aggregate of any Prepayment Interest Shortfalls experienced during the
related Collection Period. Compensating Interest Payments will not cover
shortfalls in Mortgage Loan interest accruals that result from any liquidation
of a defaulted Mortgage Loan, or of any REO Property acquired in respect
thereof, that occurs during a Collection Period prior to the related Due Date
therein.
As and to the extent described herein under "DESCRIPTION OF THE
CERTIFICATES--P&I Advances," the Master Servicer will be entitled to receive
interest, at the Reimbursement Rate, on any P&I Advances made by it and
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each of the Master Servicer and the Special Servicer will be entitled to
interest, at the Reimbursement Rate, on any reimbursable servicing expenses
incurred by it. Such interest will compound annually and will be paid, first,
out of collections with respect to default interest paid with respect to the
related Mortgage Loan, and second, out of general collections on the Mortgage
Pool then on deposit in the Certificate Account, contemporaneously with the
reimbursement of the related P&I Advance or servicing expense, from general
collections on the Mortgage Loans then on deposit in the Certificate Account.
The principal compensation to be paid to the Special Servicer in respect of
its special servicing activities will be the Special Servicing Fee and, under
the circumstances described herein, Recovery Fees. The "Special Servicing Fee"
will accrue at a rate (the "Special Servicing Fee Rate") equal to 0.25% per
annum and will be computed on the basis of the same principal amount and for the
same period respecting which any related interest payment on the Specially
Serviced Mortgage Loan or REO Loan is computed. However, earned Special
Servicing Fees will be payable out of general collections on the Mortgage Loans
then on deposit in the Certificate Account. The Special Servicing Fee with
respect to any Specially Serviced Mortgage Loan will cease to accrue if such
Mortgage Loan is liquidated or becomes a Corrected Mortgage Loan. The Special
Servicer will be entitled to a "Recovery Fee" with respect to each Specially
Serviced Trust Fund Asset and Corrected Mortgage Loan serviced by the Special
Servicer, which Recovery Fee generally will be in an amount equal to 1.0% of all
amounts received in respect thereof. However, no Recovery Fee will be payable in
connection with, or out of Liquidation Proceeds (as defined in the Prospectus)
resulting from, the purchase of any Specially Serviced Trust Fund Asset or
Corrected Mortgage Loan (i) by the Mortgage Loan Seller (as described herein
under "DESCRIPTION OF THE MORTGAGE POOL--Assignment of the Mortgage Loans;
Repurchases" and "--Representations and Warranties; Repurchases"), (ii) by the
Master Servicer or the Depositor (as described herein under "DESCRIPTION OF THE
CERTIFICATES--Termination") or (iii) in certain other limited circumstances set
forth in the Pooling and Servicing Agreement. As additional servicing
compensation, the Special Servicer will be entitled to retain all assumption
fees, modification fees and late payment charges received on or with respect to
the Specially Serviced Mortgage Loans.
The Pooling and Servicing Agreement will provide that each of the Master
Servicer and the Special Servicer will comply with the provisions of the Code
and the Treasury Regulations thereunder relating to REMICs.
Each of the Master Servicer and the Special Servicer will, in general, be
required to pay all ordinary expenses incurred by it in connection with its
servicing activities under the Pooling and Servicing Agreement, including the
fees of any sub-servicers retained by it, and will not be entitled to
reimbursement therefor except as expressly provided in the Pooling and Servicing
Agreement. However, each of the Master Servicer and the Special Servicer will be
permitted to pay certain of such expenses (including certain expenses incurred
as a result of a Mortgage Loan default) directly out of the Certificate Account
and at times without regard to the relationship between the expense and the
funds from which it is being paid. See "DESCRIPTION OF THE
CERTIFICATES--Distributions" herein and "DESCRIPTION OF THE POOLING
AGREEMENTS--Certificate Account" and "--Servicing Compensation and Payment of
Expenses" in the Prospectus.
MODIFICATIONS, WAIVERS AND AMENDMENTS
The Pooling and Servicing Agreement will permit the Special Servicer or the
Master Servicer, as applicable, to modify, waive or amend any term of any
Mortgage Loan if (a) it determines, in accordance with the Servicing Standard
described under "--General" above, that it is appropriate to do so and (b)
except as described in the following paragraph, such modification, waiver or
amendment will not (i) affect the amount or timing of any scheduled payments of
principal, interest or other amount (including Prepayment Premiums) payable
under the Mortgage Loan, (ii) affect the obligation of the related borrower to
pay a Prepayment Premium or permit a principal prepayment during the applicable
Lockout Period, (iii) except as expressly provided by the related Mortgage or in
connection with a material adverse environmental condition at the related
Mortgaged Property, result in a release of the lien of the related Mortgage on
any material portion of such Mortgaged Property without a corresponding
principal prepayment or (iv) in the judgment of the Special Servicer or the
Master Servicer, as applicable, materially impair the security for the Mortgage
Loan or reduce the likelihood of timely payment of amounts due thereon.
Notwithstanding clause (b) of the preceding paragraph, the Special Servicer
may (i) reduce the amounts owing under any Specially Serviced Mortgage Loan by
forgiving principal, accrued interest and/or any Prepayment Premium, (ii) reduce
the amount of the Periodic Payment on any Specially Serviced Mortgage Loan,
including by way of a reduction in the related Mortgage Rate, (iii) forbear in
the enforcement of any right granted under any
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Mortgage Note or Mortgage relating to a Specially Serviced Mortgage Loan, and/or
(iv) accept a principal prepayment during any Lockout Period; provided, that (x)
the related borrower is in default with respect to such Specially Serviced
Mortgage Loan or, in the judgment of the Special Servicer, such default is
reasonably foreseeable, (y) in the sole, good faith judgment of the Special
Servicer, such modification, waiver or amendment would increase the recovery to
Certificateholders on a net present value basis documented to the Trustee and
(z) such modification, waiver or amendment does not result in a tax being
imposed on the Trust Fund or cause any of the REMICs created pursuant to the
Pooling and Servicing Agreement to fail to qualify as a REMIC at any time the
Certificates are outstanding. In no event, however, will the Special Servicer be
permitted to (i) extend the maturity date of a Mortgage Loan beyond a date that
is two years prior to the Rated Final Distribution Date, (ii) extend the
maturity date of any Mortgage Loan which has a Mortgage Rate below the then
prevailing interest rate for comparable loans at the time of such modification,
as determined by the Special Servicer, unless such Mortgage Loan is a Balloon
Loan under which the obligated party that has failed to make the Balloon Payment
at its scheduled maturity and such Balloon Loan is not a Specially Serviced
Mortgage Loan (other than by reason of the failure to make the Balloon Payment)
and has not been delinquent in the preceding 12 months (other than with respect
to the Balloon Payment), in which case the Special Servicer may make up to three
one-year extensions at the existing Mortgage Rate for such Mortgage Loan (such
limitation of extentions made at a below market rate shall not limit the ability
of the Special Servicer to extend the maturity date of any Mortgage Loan at an
interest rate at or in excess of the prevailing rate for comparable loans at the
time of such modification), (iii) if the Mortgage Loan is secured by a ground
lease, extend the maturity date of such Mortgage Loan beyond a date which is 10
years prior to the expiration of the term of such ground lease, (iv) reduce the
Mortgage Rate to a rate below the then prevailing interest rate for comparable
loans at the time of such modification, as determined by the Special Servicer,
and (v) defer interest due on any Mortgage Loan in excess of 10% of the Stated
Principal Balance of such Mortgage Loan or defer the collection of interest on
any Mortgage Loan without accruing interest on such deferred interest at a rate
at least equal to the Mortgage Rate of such Mortgage Loan.
The Special Servicer and the Master Servicer, as applicable, will be
required to notify the Trustee, the Rating Agencies and, in the case of the
Special Servicer, the Master Servicer of any modification, waiver or amendment
of any term of any Mortgage Loan, and to deliver to the Trustee or the related
Custodian, for deposit in the related Mortgage File, an original counterpart of
the agreement related to such modification, waiver or amendment, promptly (and
in any event within 10 business days) following the execution thereof. Copies of
each agreement whereby any such modification, waiver or amendment of any term of
any Mortgage Loan is effected are required to be available for review during
normal business hours at the offices of the Trustee. See "DESCRIPTION OF THE
CERTIFICATES--Reports to Certificateholders; Available Information" herein.
REO PROPERTIES
If title to any Mortgaged Property is acquired by the Trust Fund for the
benefit of the Certificateholders pursuant to foreclosure proceedings instituted
by the Special Servicer or otherwise, the Special Servicer, on behalf of the
Trust Fund, will be required to sell the Mortgaged Property prior to the close
of the third taxable year following the taxable year of acquisition, unless (i)
the Internal Revenue Service grants an extension of time to sell such property
(an "REO Extension") or (ii) the Special Servicer obtains an opinion of counsel
generally to the effect that the holding of the property for more than three
years after the end of the taxable year in which the Trust Fund acquires such
property will not result in the imposition of a tax on the Trust Fund or cause
any REMIC created pursuant to the Pooling and Servicing Agreement to fail to
qualify as a REMIC under the Code. Subject to the foregoing, the Special
Servicer will generally be required to solicit bids for any Mortgaged Property
so acquired in such a manner as will be reasonably likely to realize a fair
price for such property. The Special Servicer may retain an independent
contractor to operate and manage any REO Property; provided, however, the
retention of an independent contractor will not relieve the Special Servicer of
its obligations with respect to such REO Property.
In general, the Special Servicer or an independent contractor employed by
the Special Servicer at the expense of the Trust Fund will be obligated to
operate and manage any Mortgaged Property acquired as REO Property in a manner
that would, to the extent commercially reasonable, maximize the Trust Fund's net
after-tax proceeds from such property. After the Special Servicer reviews the
operation of such property and consults with the Trustee to determine the Trust
Fund's federal income tax reporting position with respect to the income it is
anticipated that the Trust Fund would derive from such property, the Special
Servicer could determine (particularly in the case of an REO Property that is a
hospitality or residential health care facility) that it would not be
commercially reasonable to manage and operate such property in a manner that
would avoid the imposition of a tax on "net income from foreclosure property,"
within the meaning of Section 857(b)(4)(B) of the Code or a tax on "prohibited
transactions" under
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Section 860F of the Code (either such tax referred to herein as an "REO Tax").
To the extent that income the Trust Fund receives from an REO Property is
subject to a tax on (i) "net income from foreclosure property," such income
would be subject to federal tax at the highest marginal corporate tax rate
(currently 35%) or (ii) "prohibited transactions," such income would be subject
to federal tax at a 100% rate. The determination as to whether income from an
REO Property would be subject to an REO Tax will depend on the specific facts
and circumstances relating to the management and operation of each REO Property.
Generally, income from an REO Property that is directly operated by the Special
Servicer would be apportioned and classified as "service" or "non-service"
income. The "service" portion of such income could be subject to federal tax
either at the highest marginal corporate tax rate or at the 100% rate on
"prohibited transactions," and the "non-service" portion of such income could be
subject to federal tax at the highest marginal corporate tax rate or, although
it appears unlikely, at the 100% rate applicable to "prohibited transactions."
Any REO Tax imposed on the Trust Fund's income from an REO Property would reduce
the amount available for distribution to Certificateholders. Certificateholders
are advised to consult their tax advisors regarding the possible imposition of
REO Taxes in connection with the operation of commercial REO Properties by
REMICs. See "MATERIAL FEDERAL INCOME TAX CONSEQUENCES" herein and "MATERIAL
FEDERAL INCOME TAX CONSEQUENCES--REMICs" in the Prospectus.
DESCRIPTION OF THE CERTIFICATES
GENERAL
The Depositor's Mortgage Pass-Through Certificates, Series 1998-C1-CTL (the
"Certificates") will be issued pursuant to a Pooling and Servicing Agreement, to
be dated as of March 1, 1998, among the Depositor, the Master Servicer, the
Special Servicer, and the Trustee (the "Pooling and Servicing Agreement"). The
Certificates will represent in the aggregate the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of: (i) the
Mortgage Loans and all payments and other collections in respect of the Mortgage
Loans received or applicable to periods after the Cut-Off Date (exclusive of
payments of principal and interest due, and principal prepayments received, on
or before the Cut-Off Date); (ii) any REO Property acquired on behalf of the
Trust Fund; (iii) such funds or assets as from time to time are deposited in the
Certificate Account (see "DESCRIPTION OF THE POOLING AGREEMENTS--Certificate
Account" in the Prospectus); and (iv) certain rights of the Depositor under the
Mortgage Loan Purchase Agreements relating to Mortgage Loan document delivery
requirements and the representations and warranties of the Mortgage Loan Seller
regarding the Mortgage Loans.
The Certificates will consist of the following classes (each, a "Class") to
be designated as: (i) the Class A-1, Class A-2, Class A-3, Class B, Class C,
Class D, Class E, Class F, Class G, Class H, Class J and Class K Certificates
(collectively, the "Sequential Pay Certificates"); (ii) the Class A-PO
Certificates and the Class IO Certificates (together with the Sequential Pay
Certificates, the "REMIC Regular Certificates"); and (iii) one or more classes
of residual certificates (collectively, the "REMIC Residual Certificates").
Only the Class A-1, Class A-2, Class A-3, Class A-PO, Class B, Class C,
Class D, Class E and Class IO Certificates (collectively, the "Offered
Certificates") are offered hereby. The Class F, Class G, Class H, Class J and
Class K and REMIC Residual Certificates (collectively, the "Private
Certificates") have not been registered under the Securities Act of 1933, as
amended (the "Securities Act"), and are not offered hereby. Accordingly,
information herein regarding the terms of the Private Certificates is provided
solely because of its potential relevance to a prospective purchaser of an
Offered Certificate.
REGISTRATION AND DENOMINATIONS
The Offered Certificates will be issued in book-entry format through the
facilities of The Depository Trust Company ("DTC"). Each Offered Certificate
will be issued in denominations of not less than $1,000 actual or notional
principal amount and in integral multiples of $1 in excess thereof.
Each Class of Offered Certificates will initially be represented by one or
more global Certificates registered in the name of the nominee of DTC. The
Depositor has been informed by DTC that DTC's nominee will be Cede & Co. No
beneficial owner of an Offered Certificate (each, a "Certificate Owner") will be
entitled to receive a fully registered, certificated form of such Certificate (a
"Definitive Offered Certificate"), except under the limited circumstances
described in the Prospectus under "DESCRIPTION OF THE CERTIFICATES--Book-Entry
Registration and Definitive Certificates." Unless and until Definitive Offered
Certificates are issued in respect of a
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Class of Offered Certificates, beneficial ownership interests in such Class will
be recorded and transferred on the book-entry records of DTC and its
participating organizations (the "Participants"), and all references to actions
by holders of a Class of Offered Certificates will refer to actions taken by DTC
upon instructions received from the related Certificate Owners through the
Participants in accordance with DTC procedures. All references herein to
payments, notices, reports and statements to the holders of a Class of Offered
Certificates will refer to payments, notices, reports and statements to DTC or
Cede & Co., as the registered holder thereof, for distribution to the related
Certificate Owners through the Participants in accordance with DTC procedures.
The form of such payments and transfers may result in certain delays in receipt
of payments by an investor and may restrict an investor's ability to pledge its
securities. None of the Depositor, the Master Servicer, the Special Servicer or
the Trustee or any of their respective affiliates will have any liability for
any actions taken by DTC or its nominee, including, without limitation, actions
for any aspect of the records relating to or payments made on account of
beneficial ownership interests in Offered Certificates held by Cede & Co., as
nominee for DTC, or for maintaining, supervising or reviewing any records
relating to such beneficial ownership interests. See "DESCRIPTION OF THE
CERTIFICATES--Book-Entry Registration and Definitive Certificates" and "RISK
FACTORS--Book-Entry Registration" in the Prospectus.
CERTIFICATE BALANCES AND NOTIONAL AMOUNTS
Upon initial issuance, and in each case subject to a permitted variance of
plus or minus 5%, the Sequential Pay Certificates will have the Certificate
Balances, representing the approximate percentage of the Initial Pool Balance as
set forth in the following table:
PERCENT
INITIAL OF INITIAL
CLASS OF CERTIFICATE CERTIFICATE BALANCE POOL BALANCE
- -------------------- ------------------- ------------
Class A-1 ........................... $132,820,333 20.6%
Class A-2 ........................... $ 82,098,000 12.7%
Class A-3 ........................... $235,868,000 36.5%
Class A-PO .......................... $ 1,469,667 0.2%
Class B ............................. $ 38,765,000 6.0%
Class C ............................. $ 32,304,000 5.0%
Class D ............................. $ 38,765,000 6.0%
Class E ............................. $ 9,691,000 1.5%
Class F ............................. $ 58,147,000 9.0%
Class G ............................. $ 3,230,000 0.5%
Class H ............................. $ 4,846,000 0.8%
Class J ............................. $ 1,615,000 0.2%
Class K ............................. $ 6,461,530 1.0%
The "Certificate Balance" of any Class of Sequential Pay Certificates and
the Class A-PO Certificates outstanding at any time represents the maximum
amount that the holders thereof are entitled to receive as distributions
allocable to principal from the cash flow on the Mortgage Loans and the other
assets in the Trust Fund. The Certificate Balance of each Class of Sequential
Pay Certificates and the Class A-PO Certificates will be reduced on each
Distribution Date by any distributions of principal actually made on such Class
of Certificates on such Distribution Date, and further by any Realized Losses
and Additional Trust Fund Expenses that are allocated to such Class of
Certificates on such Distribution Date pursuant to the terms of the Pooling and
Servicing Agreement.
The Class IO Certificates will not have a Certificate Balance, but will
represent the right to receive distributions of interest accrued on the
respective notional amount of each of its Components (each a "Component"), as
described herein. Each such Component will relate to each separate Class of
Sequential Pay Certificates. As of any Distribution Date, each Component will
have a notional amount equal to the Certificate Balance of the Class of
Certificates with the same Class designation immediately prior to such
Distribution Date. Each Component will accrue interest at its applicable Strip
Rate on its related notional amount. The Components do not represent separate
Classes of Certificates, but rather separate components, each of which is a part
of the Class IO Certificates.
None of the REMIC Residual Certificates will have a Certificate Balance.
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PASS-THROUGH RATES
The Pass-Through Rate applicable to each Class of Sequential Pay
Certificates for each Distribution Date is set forth in the table at the
beginning of the Summary.
The Class IO Certificates will receive payments of interest equal to the
aggregate of the interest accrued on each of its Components. Each Component will
accrue interest on its notional amount at its applicable Strip Rate. The Strip
Rate applicable to the Class A-1, Class A-2 and Class A-3, Class B, Class C,
Class D and Class E Components of the Class IO Certificates for each
Distribution Date will equal the Weighted Average Net Mortgage Rate for such
Distribution Date minus 6.31%, 6.48%, 6.72%, 6.75%, 6.75%, 6.75% and 6.75%,
respectively (but not less than zero); and the Strip Rate applicable to the
Class F, Class G, Class H, Class J and Class K Components of the Class IO
Certificates for each Distribution Date will each equal the Weighted Average Net
Mortgage Rate for such Distribution Date minus 6.25% (but not less than zero).
The Class A-PO Certificates will not bear interest, but will represent the
right to receive distributions of principal as described herein. See
"--Distributions" herein. The REMIC Residual Certificates will not bear
interest, but will represent the right to receive certain limited amounts not
otherwise payable on the REMIC Regular Certificates.
The "Weighted Average Net Mortgage Rate" for each Distribution Date is the
weighted average of the Net Mortgage Rates for the Mortgage Loans as of the
commencement of the related Collection Period (as defined herein), weighted on
the basis of their respective Stated Principal Balances outstanding immediately
prior to such Distribution Date. The "Net Mortgage Rate" for each Mortgage Loan
will equal (x) the Mortgage Rate in effect for such Mortgage Loan as of the
Cut-Off Date, minus (y) the Administrative Cost Rate (as defined herein) for
such Mortgage Loan; provided, for purposes of computing the Weighted Average Net
Mortgage Rate, the Net Mortgage Rate for each Mortgage Loan having a Net
Mortgage Rate less than 6.75% (each, a "Discount Mortgage Loan") will be deemed
to be 6.75% (such Mortgage Loan is weighted by the respective principal balance
multiplied by (1 minus the Class A-PO Fraction)). The "Stated Principal Balance"
of each Mortgage Loan outstanding at any time represents the principal balance
of such Mortgage Loan ultimately due and payable thereon and generally will
equal the Cut-Off Date Balance thereof, reduced on each Distribution Date (to
not less than zero) by (i) any payments or other collections (or advances in
lieu thereof) of principal on such Mortgage Loan that are due or received, as
the case may be, during the related Collection Period and distributed on the
Certificates on such Distribution Date and (ii) the principal portion of any
Realized Loss incurred in respect of such Mortgage Loan during the related
Collection Period for such Distribution Date. Notwithstanding the foregoing, if
any Mortgage Loan is paid in full, liquidated or otherwise removed from the
Trust Fund, commencing as of the first Distribution Date following the
Collection Period during which such event occurred, the Stated Principal Balance
of such Mortgage Loan will be zero. See "DESCRIPTION OF THE
CERTIFICATES--Pass-Through Rates" herein.
The "Collection Period" for each Distribution Date will be the period that
begins immediately following the Determination Date in the month preceding the
month in which such Distribution Date occurs (or, in the case of the initial
Distribution Date, immediately following the Cut-Off Date) and ends on and
includes the Determination Date in the same month as such Distribution Date. The
"Determination Date" will be the 10th day of each month (or, if not a business
day, the next succeeding business day).
DISTRIBUTIONS
General. Distributions on the Certificates will be made by the Trustee, to
the extent of available funds, on the 15th day of each month or, if any such
15th day is not a business day, then on the next succeeding business day with
the same force and effect and no additional interest shall accrue, commencing
April 16, 1998 (each, a "Distribution Date"); provided, however, that the
Distribution Date will be no earlier than the fourth business day following the
related Determination Date. Except as described below, all such distributions
will be made to the persons in whose names the Certificates are registered (the
"Certificateholders") at the close of business on the last business day of the
month preceding the month in which the related Distribution Date occurs and
shall be made by wire transfer of immediately available funds, if such
Certificateholder shall have provided written wiring instructions to the Trustee
no less than five business days prior to such record date, or otherwise by check
mailed to the address of such
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Certificateholder as it appears in the Certificate register. The final
distribution on any Certificate (determined without regard to any possible
future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to such Certificate) will be made only upon presentation
and surrender of such Certificate at the location that will be specified in a
notice of the pendency of such final distribution. All distributions made with
respect to a Class of Certificates will be allocated pro rata among the
outstanding Certificates of such Class based on their respective percentage
interests in such Class.
The Available Distribution Amount. The aggregate amount available for
distribution to Certificateholders on each Distribution Date (the "Available
Distribution Amount") will, in general, equal the sum of the following amounts:
(a) the total amount of all cash received on or in respect of the
Mortgage Loans and any REO Properties by the Master Servicer as of the
close of business on the related Determination Date, exclusive of any
portion thereof that represents one or more of the following:
(i) any Periodic Payments collected but due on a Due Date after
the related Collection Period,
(ii) any Prepayment Premiums,
(iii) with respect to each Quarterly Pay Loan and each
Distribution Date to occur in a month in which no Periodic Payment was
due on such Quarterly Pay Loan, the lesser of (a) an amount equal to
one month's interest accrued at the related Mortgage Rate from the
second preceeding Due Date to the preceeding Due Date for such
Quarterly Pay Loan and (b) the amount on deposit in the Quarterly
Interest Reserve Account in respect of such Quarterly Pay Loan; and
(iv) all amounts in the Certificate Account that are payable or
reimbursable to any person other than the Certificateholders,
including any Servicing Fees, Trustee Fees and any Additional Trust
Fund Expenses;
(b) all P&I Advances made by the Master Servicer or the Trustee with
respect to such Distribution Date;
(c) any Compensating Interest Payment made by the Master Servicer to
cover the aggregate of any Prepayment Interest Shortfalls experienced
during the related Collection Period. See "SERVICING OF THE MORTGAGE
LOANS--Servicing and Other Compensation and Payment of Expenses" and "--P&I
Advances" herein and "DESCRIPTION OF THE POOLING AGREEMENTS--Certificate
Account" in the Prospectus.
Any Prepayment Premiums actually collected will be distributed separately
from the Available Distribution Amount. See "--Distributions--Allocation of
Prepayment Premiums" herein.
Application of Available Distribution Amount. On each Distribution Date,
for so long as the aggregate Certificate Balance of the Classes of the
Sequential Pay Certificates is greater than zero, the Trustee will (except as
otherwise described under "--Termination" below) distribute the following
amounts from the Available Distribution Amount for such date for the following
purposes and in the following order of priority, in each case to the extent of
remaining available funds:
(1) to distributions of interest to the holders of the Class A-1,
Class A-2, Class A-3 and Class IO Certificates (in each case, so long as
any such Class remains outstanding), pro rata, in accordance with the
respective amounts of Distributable Certificate Interest (as defined
herein) in respect of such Classes of Certificates on such Distribution
Date in an amount equal to all Distributable Certificate Interest in
respect of each such Class of Certificates for such Distribution Date and,
to the extent not previously paid, for all prior Distribution Dates;
(2) to distributions of principal to the holders of the Class A-PO
Certificates in an amount (not to exceed the then outstanding Certificate
Balance of such Class of Certificates) equal to the Class A-PO Principal
Distribution Amount for such Distribution Date;
(3) to distributions of principal to the holders of the Class A-1
Certificates in an amount (not to exceed the then outstanding Certificate
Balance of such Class of Certificates) equal to the Principal Distribution
Amount (as defined herein) for such Distribution Date, less any portion
thereof distributed in respect of the Class A-PO Certificates;
(4) after the Class A-1 Certificates have been retired, to
distributions of principal to the holders of the Class A-2 Certificates in
an amount (not to exceed the then outstanding Certificate Balance of such
Class of
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Certificates) equal to the Principal Distribution Amount for such
Distribution Date, less any portion thereof distributed in respect of the
Class A-PO and/or the Class A-1 Certificates;
(5) after the Class A-1 and Class A-2 Certificates have been retired,
to distributions of principal to the holders of the Class A-3 Certificates
in an amount (not to exceed the then outstanding Certificate Balance of
such Class of Certificates) equal to the Principal Distribution Amount for
such Distribution Date, less any portion thereof distributed in respect of
the Class A-PO, Class A-1 and/or Class A-2 Certificates;
(6) to distributions to the holders of the Class A-1, Class A-2, Class
A-3 and Class A-PO Certificates, pro rata, in accordance with the amount of
Realized Losses and Additional Trust Fund Expenses, if any, previously
allocated to such Classes of Certificates for which no reimbursement has
previously been received, to reimburse such holders for all Realized Losses
and Additional Trust Fund Expenses, if any;
(7) to distributions of interest to the holders of the Class B
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(8) after the Class A-1, Class A-2 and Class A-3 Certificates have
been retired, to distributions of principal to the holders of the Class B
Certificates in an amount (not to exceed the then outstanding Certificate
Balance of such Class of Certificates) equal to the Principal Distribution
Amount for such Distribution Date, less any portion thereof distributed in
respect of the Class A-1, Class A-2, Class A-3 and/or Class A-PO
Certificates;
(9) to distributions to the holders of the Class B Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to such Class of Certificates and
for which no reimbursement has previously been received;
(10) to distributions of interest to the holders of the Class C
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(11) after the Class A-1, Class A-2, Class A-3 and Class B
Certificates have been retired, to distributions of principal to the
holders of the Class C Certificates in an amount (not to exceed the then
outstanding Certificate Balance of such Class of Certificates) equal to the
Principal Distribution Amount for such Distribution Date, less any portion
thereof distributed in respect of the Class A-1, Class A-2, Class A-3,
Class A-PO and/or Class B Certificates;
(12) to distributions to the holders of the Class C Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to such Class of Certificates and
for which no reimbursement has previously been received;
(13) to distributions of interest to the holders of the Class D
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(14) after the Class A-1, Class A-2, Class A-3, Class B and Class C
Certificates have been retired, to distributions of principal to the
holders of the Class D Certificates in an amount (not to exceed the then
outstanding Certificate Balance of such Class of Certificates) equal to the
Principal Distribution Amount for such Distribution Date, less any portion
thereof distributed in respect of the Class A-1, Class A-2, Class A-3,
Class A-PO, Class B and/or Class C Certificates;
(15) to distributions to the holders of the Class D Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to such Class of Certificates and
for which no reimbursement has previously been received;
(16) to distributions of interest to the holders of the Class E
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(17) after the Class A-1, Class A-2, Class A-3, Class B, Class C and
Class D Certificates have been retired, to distributions of principal to
the holders of the Class E Certificates in an amount (not to exceed the
then outstanding Certificate Balance of such Class of Certificates) equal
to the Principal Distribution Amount for such Distribution Date, less any
portion thereof distributed in respect of the Class A-1, Class A-2, Class
A-3, Class A-PO, Class B, Class C and/or Class D Certificates;
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(18) to distributions to the holders of the Class E Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to such Class of Certificates and
for which no reimbursement has previously been received;
(19) to distributions of interest to the holders of the Class F
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(20) after the Class A-1, Class A-2, Class A-3, Class B, Class C,
Class D and Class E Certificates have been retired, to distributions of
principal to the holders of the Class F Certificates in an amount (not to
exceed the then outstanding Certificate Balance of such Class of
Certificates) equal to the Principal Distribution Amount for such
Distribution Date, less any portion thereof distributed in respect of the
Class A-1, Class A-2, Class A-3, Class A-PO, Class B, Class C, Class D
and/or Class E Certificates;
(21) to distributions to the holders of the Class F Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to such Class of Certificates and
for which no reimbursement has previously been received;
(22) to distributions of interest to the holders of the Class G
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(23) after the Class A-1, Class A-2, Class A-3, Class B, Class C,
Class D, Class E and Class F Certificates have been retired, to
distributions of principal to the holders of the Class G Certificates in an
amount (not to exceed the then outstanding Certificate Balance of such
Class of Certificates) equal to the Principal Distribution Amount for such
Distribution Date, less any portion thereof distributed in respect of the
Class A-1, Class A-2, Class A-3, Class A-PO, Class B, Class C, Class D,
Class E and/or Class F Certificates;
(24) to distributions to the holders of the Class G Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to such Class of Certificates and
for which no reimbursement has previously been received;
(25) to distributions of interest to the holders of the Class H
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(26) after the Class A-1, Class A-2, Class A-3, Class B, Class C,
Class D, Class E, Class F and Class G Certificates have been retired, to
distributions of principal to the holders of the Class H Certificates in an
amount (not to exceed the then outstanding Certificate Balance of such
Class of Certificates) equal to the Principal Distribution Amount for such
Distribution Date, less any portion thereof distributed in respect of the
Class A-1, Class A-2, Class A-3, Class A-PO, Class B, Class C, Class D,
Class E, Class F and/or Class G Certificates;
(27) to distributions to the holders of the Class H Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to each such Class of Certificates
and for which no reimbursement has previously been received;
(28) to distributions of interest to the holders of the Class J
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
(29) after the Class A-1, Class A-2, Class A-3, Class B, Class C,
Class D, Class E, Class F, Class G and Class H Certificates have been
retired, to distributions of principal to the holders of the Class J
Certificates in an amount (not to exceed the then outstanding Certificate
Balance of such Class of Certificates) equal to the Principal Distribution
Amount for such Distribution Date, less any portion thereof distributed in
respect of the Class A-1, Class A-2, Class A-3, Class A-PO, Class B, Class
C, Class D, Class E, Class F, Class G and/or Class H Certificates;
(30) to distributions to the holders of the Class J Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to each such Class of Certificates
and for which no reimbursement has previously been received;
(31) to distributions of interest to the holders of the Class K
Certificates in an amount equal to all Distributable Certificate Interest
in respect of such Class of Certificates for such Distribution Date and, to
the extent not previously paid, for all prior Distribution Dates;
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(32) after the Class A-1, Class A-2, Class A-3, Class B, Class C,
Class D, Class E, Class F, Class G, Class H and Class J Certificates have
been retired, to distributions of principal to the holders of the Class K
Certificates in an amount (not to exceed the then outstanding Certificate
Balance of such Class of Certificates) equal to the Principal Distribution
Amount for such Distribution Date, less any portion thereof distributed in
respect of the Class A-1, Class A-2, Class A-3, Class A-PO, Class B, Class
C, Class D, Class E, Class F, Class G, Class H and/or Class J Certificates;
(33) to distributions to the holders of the Class K Certificates to
reimburse such holders for all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to each such Class of Certificates
and for which no reimbursement has previously been received; and
(34) to distributions to the holders of the REMIC Residual
Certificates in an amount equal to the balance, if any, of the Available
Distribution Amount remaining after the distributions to be made on such
Distribution Date as described in the above clauses.
Distributable Certificate Interest. The "Distributable Certificate
Interest" in respect of any Class of REMIC Regular Certificates for each
Distribution Date (other than the Class A-PO Certificates, which will not
entitle the holders thereof to receive distributions of interest) represents
that portion of the Accrued Certificate Interest in respect of such Class of
Certificates and such Distribution Date reduced (to not less than zero) by such
Class's allocable share (calculated as described below) of the aggregate of any
Prepayment Interest Shortfalls resulting from voluntary principal prepayments
made on the Mortgage Loans during the related Collection Period that are not
covered by the Master Servicer's Compensating Interest Payment for such
Distribution Date (the aggregate of such Prepayment Interest Shortfalls that are
not so covered, as to such Distribution Date, the "Net Aggregate Prepayment
Interest Shortfall").
The "Accrued Certificate Interest" in respect of each Class of Sequential
Pay Certificates for each Distribution Date is equal to one month's interest at
the Pass-Through Rate applicable to such Class of Certificates and such
Distribution Date accrued during the immediately previous calendar month on the
related Certificate Balance outstanding immediately prior to such Distribution
Date. The "Accrued Certificate Interest" in respect of the Class IO Certificates
for each Distribution Date is equal to the sum of one month's interest on each
of its Components at the Strip Rate applicable to such Component and such
Distribution Date accrued during the immediately preceding calendar month.
Accrued Certificate Interest will be calculated on a 30/360 day basis.
The portion of the Net Aggregate Prepayment Interest Shortfall for any
Distribution Date that is allocable to each Class of REMIC Regular Certificates
will equal the product of (a) such Net Aggregate Prepayment Interest Shortfall,
multiplied by (b) a fraction, the numerator of which is equal to the Accrued
Certificate Interest in respect of such Class of Certificates for such
Distribution Date, and the denominator of which is equal to the aggregate
Accrued Certificate Interest for all the REMIC Regular Certificates for such
Distribution Date.
Principal Distribution Amount. The "Principal Distribution Amount" for each
Distribution Date will generally equal the aggregate of the following:
(a) the aggregate of the principal portions of all Scheduled Payments
(other than Balloon Payments) due, and the principal portions of any
Assumed Scheduled Payments deemed due, on or in respect of the Mortgage
Loans for their respective Due Dates occurring during the related
Collection Period;
(b) the aggregate of all principal prepayments received on the
Mortgage Loans during the related Collection Period;
(c) with respect to any Mortgage Loan as to which the related stated
maturity date occurred during or prior to the related Collection Period,
any payment of principal made by or on behalf of the related borrower
during the related Collection Period (including any Balloon Payment), net
of any portion of such payment that represents a recovery of the principal
portion of any Scheduled Payment (other than a Balloon Payment) due or the
principal portion of any Assumed Scheduled Payment deemed due, in respect
of such Mortgage Loan on a Due Date during or prior to the related
Collection Period and not previously recovered;
(d) the aggregate of all Liquidation Proceeds and Insurance Proceeds
(each as defined in the Prospectus), condemnation awards and proceeds of
Mortgage Loan repurchases that were received on or in respect of Mortgage
Loans during the related Collection Period and that were identified and
applied by the Master Servicer as recoveries of principal, in each case net
of any portion of such amounts that represents a recovery of the
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principal portion of any Scheduled Payment (other than a Balloon Payment)
due, or of the principal portion of any Assumed Scheduled Payment deemed
due, in respect of the related Mortgage Loan on a Due Date during or prior
to the related Collection Period and not previously recovered; and
(e) if such Distribution Date is subsequent to the initial
Distribution Date, the excess, if any, of the Principal Distribution Amount
for the immediately preceding Distribution Date, over the aggregate
distributions of principal made on the Certificates on such immediately
preceding Distribution Date.
Class A-PO Principal Distribution Amount. The "Class A-PO Principal
Distribution Amount" for each Distribution Date that the Class A-PO Certificates
are outstanding will equal the aggregate of the following: (a) with respect to
each outstanding Discount Mortgage Loan, the product of (x) the principal
portion of the related Scheduled Payment due and (y) the Class A-PO Fraction (as
defined below) and (b) the product of (x) an amount equal to any Realized Losses
that were realized during the related Collection Period with respect to any
Discount Mortgage Loan (to the extent such Realized Losses were not allocated to
the Class A-PO Certificates) and (y) the related Class A-PO Fraction. With
respect to each Discount Mortgage Loan, the "Class A-PO Fraction" will equal a
fraction, the numerator of which is 6.75% minus the Net Mortgage Rate for such
Mortgage Loan and the denominator of which is 6.75%. See "--Subordination;
Allocation of Losses and Certain Expenses" herein.
The "Scheduled Payment" due on any Mortgage Loan on any related Due Date is
the amount of the Periodic Payment that is or would have been, as the case may
be, due thereon on such date, without regard to any waiver, modification or
amendment of such Mortgage Loan granted or agreed to by the Special Servicer or
otherwise resulting from a bankruptcy or similar proceeding involving the
related borrower, and assuming that each prior Periodic Payment has been made in
a timely manner. The "Assumed Scheduled Payment" is an amount deemed due (i) in
respect of any Balloon Loan that is delinquent in respect of its Balloon Payment
beyond the first Determination Date that follows its stated maturity date and
(ii) in respect of each REO Loan. The Assumed Scheduled Payment deemed due on
any such Balloon Loan on its stated maturity date and on each successive related
Due Date that it remains or is deemed to remain outstanding will equal the
Scheduled Payment that would have been due thereon on such date if the related
Balloon Payment had not come due but rather such Mortgage Loan had continued to
amortize in accordance with such loan's amortization schedule, if any, in effect
prior to its stated maturity date. The Assumed Scheduled Payment deemed due on
any REO Loan on each Due Date that the related REO Property remains part of the
Trust Fund will equal the Scheduled Payment that would have been due in respect
of such predecessor Mortgage Loan on such Due Date had it remained outstanding
or, if such Mortgage Loan was a Balloon Loan and such Due Date coincides with or
follows what had been its stated maturity date, the Assumed Scheduled Payment
that would have been deemed due in respect of such Mortgage Loan on such Due
Date had it remained outstanding.
Distributions of the Principal Distribution Amount will constitute the only
distributions of principal on the Certificates. Reimbursements of Realized
Losses and Additional Trust Fund Expenses previously allocated to principal will
not constitute distributions of principal for any purpose and will not result in
an additional reduction in the Certificate Balance of the Class of Certificates
in respect of which any such reimbursement is made.
Treatment of REO Properties. Notwithstanding that any Mortgaged Property
may be acquired as part of the Trust Fund through foreclosure, deed in lieu of
foreclosure or otherwise, the related Mortgage Loan will be treated, for
purposes of (i) determining distributions on the Certificates, (ii) allocating
Realized Losses and Additional Trust Fund Expenses to the Certificates, and
(iii) determining the amount of Trustee Fees and Master Servicing Fees payable
under the Pooling and Servicing Agreement, as having remained outstanding until
such REO Property is liquidated. In connection therewith, operating revenues and
other proceeds derived from such REO Property (net of related operating costs)
will be "applied" by the Master Servicer as principal, interest and other
amounts that would have been "due" on such Mortgage Loan, and the Master
Servicer or the Trustee will be required to make P&I Advances in respect of such
Mortgage Loan, in all cases as if such Mortgage Loan had remained outstanding.
References to "Mortgage Loan" or "Mortgage Loans" in the definitions of
"Principal Distribution Amount" and "Weighted Average Net Mortgage Rate" include
any Mortgage Loan as to which the related Mortgaged Property has become an REO
Property (an "REO Loan").
Allocation of Prepayment Premiums. In the event a borrower is required to
pay any Prepayment Premium, the amount of such payments actually collected will
be distributed in respect of the REMIC Regular Certificates (other than the
Class A-PO Certificates) as set forth below. A "Prepayment Premium" is any Yield
Maintenance Charge or any other fees (each such other fee, a "Percentage
Premium") paid or payable, as the context requires, as a result of a prepayment
of principal on a Mortgage Loan which are calculated based upon a specified
percentage (which may
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decline over time) of the amount prepaid. "Yield Maintenance Charges" are
payments paid or payable, as the context requires, on a Mortgage Loan as a
result of a prepayment of principal not otherwise due thereon, which has been
calculated (based on Scheduled Payments on such Mortgage Loan) to compensate the
holder of the Mortgage Loan for reinvestment losses based on the aggregate
payment of interest which would have accrued on such Mortgage Loan on each
subsequent due date through the maturity date of such Mortgage Loan, at a rate
calculated as the difference between the Mortgage Rate on such Mortgage Loan and
the applicable U.S. Treasury rate in effect on the date of prepayment (the "Rate
Differential").
On each Distribution Date, any Prepayment Premium collected on a Mortgage
Loan during the related Collection Period will be distributed as follows: the
holders of each Class of the Certificates then entitled to distributions of
principal with respect to such Mortgage Loan on such Distribution Date will be
entitled to an amount equal to the amount of such Prepayment Premium, multiplied
by (a) a fraction (which in no event may be greater than one) the numerator of
which is equal to the excess, if any, of the Pass-Through Rate of such Class of
Certificates, over the relevant Discount Rate (as defined below), and the
denominator of which is equal to the excess, if any, of the Mortgage Rate of the
prepaid Mortgage Loan, over the relevant Discount Rate, and (b) a fraction, the
numerator of which is equal to the amount of principal distributable on such
Class of Certificates on such Distribution Date, and the denominator of which is
the Principal Distribution Amount for such Distribution Date. If there is more
than one Class of Certificates entitled to distributions of such principal on
any particular Distribution Date on which a Prepayment Premium is distributable,
the aggregate amount of such Prepayment Premium will be allocated among all such
Classes up to, and on a pro rata basis in accordance with, their respective
entitlements thereto in accordance with the foregoing sentence. The portion, if
any, of the Prepayment Premium remaining after any such payments to the holders
of such Certificates will be distributed to the holders of the Class IO
Certificates.
The "Discount Rate" applicable to any Class of Offered Certificates will be
equal to the yield (when compounded monthly) on the non-callable U.S. Treasury
issue (primary issue) with a maturity date closest to the maturity date for the
prepaid Mortgage Loan as reported in The Wall Street Journal on the date of such
prepayments. In the event that there are two such U.S. Treasury issues (a) with
the same coupon, the issue with the lower yield will be utilized, and (b) with
maturity dates equally close to the maturity date for the prepaid Mortgage Loan,
the issue with the earlier maturity date will be utilized.
Neither the Depositor nor the Mortgage Loan Seller makes any representation
as to the enforceability of the provision of any Mortgage Note requiring the
payment of a Prepayment Premium, or of the collectability of any Prepayment
Premium. See "DESCRIPTION OF THE MORTGAGE POOL--Certain Terms and Conditions of
the Mortgage Loans--Prepayment Provisions" herein.
SUBORDINATION; ALLOCATION OF LOSSES AND CERTAIN EXPENSES
The rights of holders of the Class B, Class C, Class D and Class E
Certificates and each Class of the Private Certificates (collectively, the
"Subordinate Certificates") to receive distributions of amounts collected or
advanced on the Mortgage Loans will be subordinated, to the extent described
herein, to the rights of holders of the Class A-1, Class A-2, Class A-3, Class
A-PO and Class IO Certificates (collectively, the "Senior Certificates") and
each other such Class of Subordinate Certificates, if any, with an earlier
alphabetical Class designation. This subordination is intended to enhance the
likelihood of timely receipt by the holders of the Senior Certificates of the
full amount of Distributable Certificate Interest payable in respect of such
Classes of Certificates (other than the Class A-PO Certificates) on each
Distribution Date, and the ultimate receipt by the holders of the Class A-1,
Class A-2, Class A-3 and Class A-PO Certificates of principal in an amount equal
to the entire respective Certificate Balances of such Classes of Certificates.
Similarly, but to decreasing degrees, this subordination is also intended to
enhance the likelihood of timely receipt by the holders of the Class B, the
Class C, the Class D and the Class E Certificates of the full amount of
Distributable Certificate Interest payable in respect of each such Class of
Certificates on each Distribution Date, and the ultimate receipt by the holders
of each such Class of Certificates of, principal equal to the entire related
Certificate Balance. The protection afforded to the holders of the Class E
Certificates by means of the subordination of the Private Certificates, to the
holders of the Class D Certificates by means of the subordination of the Class E
and the Private Certificates, to the holders of the Class C Certificates by
means of the subordination of the Class D, the Class E and the Private
Certificates, to the holders of the Class B Certificates by means of the
subordination of the Class C, the Class D, the Class E and the Private
Certificates, and to the holders of the Senior Certificates by means of the
subordination of the Subordinate Certificates, will be accomplished by (i) the
application of the Available Distribution Amount on each Distribution Date in
accordance with the order of priority described
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under "--Distributions--Application of the Available Distribution Amount" above
and (ii) by the allocation of Realized Losses and Additional Trust Fund Expenses
as described below. The Class A-3 Certificates will receive principal payments
only after the Certificate Balances of the Class A-2 and Class A-1 Certificates
have been reduced to zero and the Class A-2 Certificates will receive principal
payments only after the Certificate Balance of the Class A-1 Certificates has
been reduced to zero. However, the Class A-1, Class A-2, Class A-3, Class A-PO
and Class IO Certificates will bear shortfalls in collections and losses
incurred in respect of the Mortgage Loans pro rata. No other form of credit
support will be available for the benefit of the holders of the Offered
Certificates.
On each Distribution Date, following all distributions on the Certificates
to be made on such date, the aggregate of all Realized Losses and Additional
Trust Fund Expenses (to the extent such Additional Trust Fund Expenses are not
covered by interest received on the Mortgage Loans) that have been incurred
since the Cut-Off Date through the end of the related Collection Period and that
have not previously been allocated as described below will be allocated among
the respective Classes of Sequential Pay Certificates (in each case in reduction
of their respective Certificate Balances) as follows, but in the aggregate only
to the extent that the aggregate Certificate Balance of all Classes of
Sequential Pay Certificates remaining outstanding after giving effect to the
distributions on such Distribution Date exceeds the aggregate Stated Principal
Balance of the Mortgage Pool that will be outstanding immediately following such
Distribution Date: first, to the Class K Certificates, until the remaining
Certificate Balance of such Class of Certificates is reduced to zero; second, to
the Class J Certificates, until the remaining Certificate Balance of such Class
of Certificates is reduced to zero; third, to the Class H Certificates, until
the remaining Certificate Balance of such Class of Certificates is reduced to
zero; fourth, to the Class G Certificates, until the remaining Certificate
Balance of such Class of Certificates is reduced to zero; fifth, to the Class F
Certificates, until the remaining Certificate Balance of such Class of
Certificates is reduced to zero; sixth, to the Class E Certificates, until the
remaining Certificate Balance of such Class of Certificates is reduced to zero;
seventh, to the Class D Certificates, until the remaining Certificate Balance of
such Class of Certificates is reduced to zero; eighth, to the Class C
Certificates until the remaining Certificate Balance of such Class of
Certificates is reduced to zero; and ninth, to the Class B Certificates, until
the Certificate Balance of such Class of Certificates is reduced to zero.
Thereafter, additional Realized Losses will be allocated to the Class A-1
Certificates, the Class A-2 Certificates and the Class A-3 Certificates, pro
rata, in proportion to their outstanding Certificate Balances, until the
remaining Certificate Balances of such Classes of Certificates are reduced to
zero; provided that if a Realized Loss otherwise allocable to the Class A-1,
Class A-2 and Class A-3 Certificates occurs with respect to a Discount Mortgage
Loan, an amount equal to the product of the Class A-PO Fraction and the amount
of such loss shall be allocated to the Class A-PO Certificates and the remainder
shall be allocated pro rata to the Class A-1, Class A-2 and Class A-3
Certificates and any Additional Trust Fund Expenses will be allocated to the
Class A-1, Class A-2, Class-3 and Class A-PO Certificates, pro rata, in
proportion to their outstanding Certificate Balances. Any Realized Losses or
Additional Trust Fund Expenses allocated to a Class or Classes of Certificates
will reduce their respective Certificate Balance as of the related Distribution
Date, but in the aggregate only to the extent that the aggregate Certificate
Balance of such Classes of Certificates remaining outstanding after giving
effect to the distributions on such Distribution Date exceeds the aggregate
Stated Principal Balance of the Mortgage Pool that will be outstanding
immediately following such Distribution Date.
Any Realized Loss or Additional Trust Fund Expense allocated in reduction
of the Certificate Balance of any Class of Sequential Pay Certificates will also
result in a corresponding reduction in the notional amount for the related
Component.
"Realized Losses" are losses arising from the inability to collect all
amounts due and owing under any defaulted Mortgage Loan, including by reason of
the fraud or bankruptcy of the borrower or a casualty of any nature at the
related Mortgaged Property, to the extent not covered by insurance. The Realized
Loss in respect of a liquidated Mortgage Loan (or related REO Property) is an
amount generally equal to the excess, if any, of (a) the outstanding principal
balance of such Mortgage Loan as of the date of liquidation, together with (i)
all accrued and unpaid interest thereon at the related Mortgage Rate in effect
from time to time to but not including the Due Date in the Collection Period in
which the liquidation occurred and (ii) certain related unreimbursed servicing
expenses, over (b) the aggregate amount of Liquidation Proceeds, if any,
recovered in connection with such liquidation. If any portion of the debt due
under a Mortgage Loan is forgiven, whether in connection with a modification,
waiver or amendment granted or agreed to by the Special Servicer or in
connection with the bankruptcy or similar proceeding involving the related
borrower, the amount so forgiven also will be treated as a Realized Loss.
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"Additional Trust Fund Expenses" include, among other things, (i) any
Special Servicing Fees or Principal Recovery Fees paid to the Special Servicer,
(ii) any interest paid to the Master Servicer, the Special Servicer and/or the
Trustee in respect of unreimbursed Advances and (iii) any of certain
unanticipated, non-Mortgage Loan specific expenses of the Trust Fund, including,
but not limited to, certain reimbursements and indemnifications to the Trustee
of the type described under "DESCRIPTION OF THE POOLING AGREEMENTS--Certain
Matters Regarding the Trustee" in the Prospectus, certain reimbursements to the
Master Servicer, the Special Servicers and the Depositor of the type described
under "DESCRIPTION OF THE POOLING AGREEMENTS--Certain Matters Regarding the
Master Servicer and the Depositor" in the Prospectus (the Special Servicer
having the same rights to indemnity and reimbursement as described thereunder
with respect to the Master Servicer), and certain federal, state and local
taxes, and certain tax-related expenses, payable from the assets of the Trust
Fund and described under "MATERIAL FEDERAL INCOME TAX CONSEQUENCES--Prohibited
Transactions Tax and Other Taxes" in the Prospectus and the costs of certain
opinions of counsel required to be obtained in connection with the servicing of
the Mortgage Loans and administration of the Trust Fund. Additional Trust Fund
Expenses will reduce amounts payable to Certificateholders and, subject to the
distribution priorities described above, may result in a loss on one or more
Classes of Offered Certificates.
ADVANCES
On or about each Distribution Date, the Master Servicer will be obligated,
subject to the recoverability determination described below, to make a P&I
Advance out of its own funds or, subject to the replacement thereof as provided
in the Pooling and Servicing Agreement, from funds held in the Certificate
Account that are not required to be distributed to Certificateholders on such
Distribution Date, in an amount that is generally equal to the aggregate of all
Scheduled Payments (other than Balloon Payments) and any Assumed Scheduled
Payments, net of related Master Servicing Fees and, if any, Recovery Fees, due
or deemed due, as the case may be, in respect of the Mortgage Loans during the
related Collection Period, in each case to the extent such amount was not paid
by or on behalf of the related borrower or otherwise collected as of the close
of business on the related Determination Date. The Master Servicer's obligations
to make P&I Advances in respect of any Mortgage Loan will continue until
liquidation of such Mortgage Loan or disposition of any REO Property acquired in
respect thereof. However, if the Periodic Payment on any Mortgage Loan has been
reduced in connection with a bankruptcy or similar proceeding or a modification,
waiver or amendment granted or agreed to by the Special Servicer, the Master
Servicer will be required to advance only the amount of the reduced Periodic
Payment (net of related Master Servicing Fees and, if any, Recovery Fees) in
respect of subsequent delinquencies.
The Master Servicer will be obligated, subject to the recoverability
determination described below, to make property advances (each, a "Protective
Advance") out of its own funds, with respect to Mortgage Loans subject to Double
Net Leases, in the event there exists insufficient monies in any related
borrower reserve account or insufficient Net cash flow after debt service to
cover certain expenses relating to the Mortgaged Property which are the
responsibility of the borrower pursuant to the Credit Lease and which could give
rise to an abatement of any rent due under, or a termination of, the related
Credit Lease pursuant to any Maintenance Right or Additional Right if not
performed by the borrower. The Pooling and Servicing Agreement will restrict the
Master Servicer (or Trustee, as applicable) from foreclosing upon a borrower's
interest in a Mortgaged Property in the event of a Mortgage Loan default which
exists solely (i.e. absent any default in the payment of principal and/or
interest under the Mortgage Loan) with respect to a breach of a borrower
obligation which would give rise to a Maintenance Right or Additional Right and
permit the Tenant to offset rent under, or terminate, the related Credit Lease,
unless (a) such Protective Advance is deemed a Nonrecoverable Advance, or (b)
the original scheduled maturity of such Mortgage Loan has occurred.
Notwithstanding the foregoing, if it is determined that an Appraisal
Reduction Amount (as defined below) exists with respect to any Required
Appraisal Loan (as defined below), then, with respect to the Distribution Date
immediately following the date of such determination and with respect to each
subsequent Distribution Date for so long as such Appraisal Reduction Amount
exists, the Master Servicer will be required in the event it is otherwise
required by the Pooling and Servicing Agreement to make a P&I Advance. In
respect of such Mortgage Loan, the Master Servicer need only advance an amount
equal to the product of the amount of the P&I Advance that would otherwise be
required without regard to this sentence multiplied by a fraction, the numerator
of which is equal to the Stated Principal Balance of such Mortgage Loan, net of
such Appraisal Reduction Amount, and the denominator of which is equal to the
Stated Principal Balance of such Mortgage Loan. Pursuant to the terms of the
Pooling and
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Servicing Agreement, if the Master Servicer fails to make a P&I Advance required
to be made, the Trustee shall then be required to make such P&I Advance.
The Master Servicer (or the Trustee) will be entitled to recover any P&I
Advance and Protective Advance made out of its own funds from any amounts
collected in respect of the Mortgage Loan (net of related Servicing Fees with
respect to collections of interest and net of related Recovery Fees with respect
to collections of principal) as to which such P&I Advance or Protective Advance
was made, as applicable, whether such amounts are collected in the form of late
payments, Insurance Proceeds, Liquidation Proceeds or any other recovery of the
related Mortgage Loan or REO Property ("Related Proceeds") or, with respect to
any Protective Advance, from any excess cash flow due the borrower after making
all scheduled payments and deposits into any reserve accounts arising out of, or
under, the Credit Lease. Neither the Master Servicer nor the Trustee will be
obligated to make any P&I Advance or Protective Advance that it determines in
accordance with the servicing standards described herein, would, if made, not be
recoverable out of Related Proceeds (a "Nonrecoverable Advance"), and the Master
Servicer (or the Trustee) will be entitled to recover, from general funds on
deposit in the Certificate Account, any P&I Advance made that it later
determines to be a Nonrecoverable Advance. See "DESCRIPTION OF THE
CERTIFICATES--Advances in Respect of Delinquencies" and "DESCRIPTION OF THE
POOLING AGREEMENTS--Certificate Account" in the Prospectus. For so long as the
Trustee has not succeeded to the duties of the Master Servicer pursuant to the
terms of the Pooling and Servicing Agreement, the Trustee may conclusively rely
upon the Master Servicer's determination of a Nonrecoverable Advance. See
"DESCRIPTION OF THE POOLING AGREEMENT--Events of Default" in the Prospectus.
In connection with the recovery by the Master Servicer or the Trustee of
any P&I Advance or Protective Advance made by it or the recovery by the Master
Servicer, the Special Servicer or the Trustee of any reimbursable servicing
expense incurred by it (each such P&I Advance, Protective Advance or expense, an
"Advance"), the Master Servicer, the Special Servicer or the Trustee, as
applicable, will be entitled to be paid, first, out of collections with respect
to default interest paid with respect to the related Mortgage Loan, and second,
out of any amounts then on deposit in the Certificate Account, interest
compounded annually at a per annum rate (the "Reimbursement Rate") equal to the
"prime rate" published in the "Money Rates" section of The Wall Street Journal,
as such "prime rate" may change from time to time, accrued on the amount of such
Advance from the date made to but not including the date of reimbursement;
provided, however, that with respect to any Protective Advances, the interest
rate will equal the Reimbursement Rate plus 2.0% per annum. To the extent not
offset or covered by amounts otherwise payable on the Private Certificates,
interest accrued on outstanding Advances will result in a reduction in amounts
payable on the Offered Certificates, subject to the distribution priorities
described herein.
APPRAISAL REDUCTIONS
Upon the earliest of the date (each such date, a "Required Appraisal Date")
that (1) any Mortgage Loan is sixty (60) days delinquent in respect of any
Periodic Payment, (2) any REO Property is acquired on behalf of the Trust Fund,
(3) any Mortgage Loan has been modified by the Special Servicer to reduce the
amount of any Periodic Payment, other than a Balloon Payment, (4) a receiver is
appointed and continues in such capacity in respect of a Mortgaged Property
securing any Mortgage Loan, (5) a borrower, Tenant or Guarantor with respect to
any Mortgage Loan is subject to any bankruptcy proceeding, or (6) a Balloon
Payment with respect to any Mortgage Loan is due and has not been paid on its
scheduled maturity date (each such Mortgage Loan, including any REO Loan, a
"Required Appraisal Loan"), the Special Servicer will be required to obtain
(within sixty (60) days of the applicable Required Appraisal Date) an appraisal
of the related Mortgaged Property prepared in accordance with 12 CFR 225.62 and
conducted in accordance with the standards of the Appraisal Institute by a
Qualified Appraiser, unless such an appraisal had been previously obtained
within the prior twelve months. A "Qualified Appraiser" is an independent
appraiser, selected by the Special Servicer, that is a member in good standing
of the Appraisal Institute and that is, if the state in which the subject
Mortgaged Property is located certifies or licenses appraisers, certified or
licensed in such state, and in each such case who has a minimum of five years
experience in the subject property type and market. The cost of such appraisal
will be an Advance by the Master Servicer, subject to the Master Servicer's
right to be reimbursed therefor out of Related Proceeds or, if not reimbursable
therefrom, out of general funds on deposit in the Certificate Account with
interest thereon at the Reimbursement Rate and subject to the Master Servicer's
determination that such Advance would not be a Nonrecoverable Advance. As a
result of any such appraisal, it may be determined that an "Appraisal Reduction
Amount" exists with respect to the related Required Appraisal Loan, such
determination to be made upon the later of 30 days after the Required Appraisal
Date if no new appraisal is required or upon receipt of a new appraisal. The
Appraisal Reduction Amount for any Required Appraisal Loan will equal the
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excess, if any, of (a) the sum of, as of the Determination Date immediately
succeeding the date on which the appraisal is obtained, (i) the Stated Principal
Balance of such Required Appraisal Loan, (ii) to the extent not previously
advanced by or on behalf of the Master Servicer or the Trustee, all unpaid
interest on the Required Appraisal Loan through the most recent Due Date prior
to such Determination Date at a per annum rate equal to the related Net Mortgage
Rate, (iii) all accrued but unpaid Servicing Fees and any Additional Trust Fund
Expenses in respect of such Required Appraisal Loan, (iv) all related
unreimbursed Advances made by or on behalf of the Master Servicer, the Special
Servicer and the Trustee with respect to such Required Appraisal Loan and (v)
all currently due and unpaid real estate taxes and assessments, insurance
premiums, and, if applicable, ground rents in respect of the related Mortgaged
Property (net of any amount escrowed therefor), over (b) an amount equal to 90%
of the appraised value (net of any prior liens) of the related Mortgaged
Property as determined by such appraisal.
Notwithstanding the foregoing, if any Required Appraisal Loan as to which
an Appraisal Reduction Amount has been established in accordance with the
preceding paragraph becomes a Corrected Mortgage Loan, then the Appraisal
Reduction Amount shall be deemed to be zero, subject to such Mortgage Loan again
becoming subject to the appraisal requirement described above; provided, that,
in the case of any Required Appraisal Loan that has been modified as described
in the immediately preceding paragraph, the Appraisal Reduction Amount will be
deemed to exist for so long as the terms of the modification are in effect.
REPORTS TO CERTIFICATEHOLDERS; AVAILABLE INFORMATION
On each Distribution Date, based solely on information provided in monthly
reports prepared by the Master Servicer and the Special Servicer and delivered
to the Trustee, the Trustee will be required to provide or make available to (i)
each holder of an Offered Certificate, (ii) the initial beneficial owners of the
Offered Certificates and (iii) subsequent beneficial owners of the Offered
Certificates upon their request to the Trustee a statement (a "Distribution Date
Statement"), providing various items of information relating to distributions
made on such date with respect to the relevant Class and a statement, similar in
content to the form of Annex C, setting forth the recent status of the Mortgage
Pool based on information provided to it by the Master Servicer and the Special
Servicer. Although the form of the Distribution Date Statement may change at the
discretion of the Trustee, the content will be consistent with the requirements
of the Pooling and Servicing Agreement. For a more detailed discussion of the
particular items of information to be provided in each Distribution Date
Statement, as well as a discussion of certain annual information reports to be
furnished to persons who at any time during the prior calendar year were holders
of the Offered Certificates, see "DESCRIPTION OF THE CERTIFICATES--Reports to
Certificateholders" in the Prospectus.
The Trustee may make available each month, to any interested party, the
Distribution Date Statement via the Trustee's Internet Website, electronic
bulletin board and fax-on-demand service. The Trustee's website will be located
at "www.securitieslink.net/cmbs". The Trustee's electronic bulletin board may be
accessed by calling (301) 815-6620, and its fax-on-demand service may be
accessed by calling (301) 815-6610. For assistance with regard to the
above-mentioned services, investors may call (301) 815-6600.
Except as described above, until such time as Definitive Offered
Certificates are issued in respect of a Class of Offered Certificates, the
foregoing information will be available to the related Certificate Owners only
to the extent it is forwarded by or otherwise available through DTC and its
Participants. The manner in which notices and other communications are conveyed
by DTC to Participants, and by Participants to the Certificate Owners, will be
governed by arrangements among them, subject to any statutory or regulatory
requirements as may be in effect from time to time. The Master Servicer, the
Trustee and the Depositor may recognize as owner of a Certificate the person in
whose name the Certificate is registered on the books and records of the
Trustee, as registrar in respect of the Certificates (in such capacity, the
"Certificate Registrar").
The Pooling and Servicing Agreement requires that the Trustee make
available at its offices, during normal business hours, for review by any
Certificate Owner owning an interest in a Certificate or any person identified
to the Trustee as a prospective transferee of such an interest, originals or
copies of, among other things, the following items: (a) the Pooling and
Servicing Agreement and any amendments thereto, (b) all Distribution Date
Statements delivered to holders of the relevant Class of Offered Certificates
since the Closing Date, (c) all officer's certificates delivered to the Trustee
since the Closing Date as described under "DESCRIPTION OF THE POOLING
AGREEMENTS--Evidence as to Compliance" in the Prospectus, (d) all accountants'
reports delivered to the Trustee since the Closing Date as described under
"DESCRIPTION OF THE POOLING AGREEMENTS--Evidence as to Compliance" in the
Prospectus, (e) the most recent property inspection report prepared by or on
behalf of the Special
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Servicer in respect of each Mortgaged Property and delivered to the Trustee, (f)
any and all modifications, waivers and amendments of the terms of a Mortgage
Loan entered into by the Special Servicer and delivered to the Trustee and (g)
any and all officers' certificates and other evidence delivered to the Trustee
to support the Master Servicer's (or the Trustee's) determination that any
Advance was or, if made, would not be recoverable from related proceeds. Copies
of any and all of the foregoing items will be available from the Trustee upon
request; provided, however, the Trustee will be permitted to require payment of
a sum sufficient to cover the reasonable costs and expenses of providing such
information to the Certificate Owners, including, without limitation, copy
charges and reasonable fees for employee time and for space.
The Trustee will make available, upon reasonable advance written notice and
at the expense of the requesting party, copies of the items referred to in the
prior paragraph that are maintained thereby, to Certificateholders, Certificate
Owners and prospective purchasers of Certificates and interests therein;
provided, that the Trustee may require (a) in the case of a Certificate Owner, a
written confirmation executed by the requesting person or entity, in a form
reasonably acceptable to the Trustee, generally to the effect that such person
or entity is a beneficial owner of any Class of Certificates, is requesting the
information solely for use in evaluating such person's or entity's investment in
such Certificates and will otherwise keep such information confidential and (b)
in the case of a prospective purchaser, confirmation executed by the requesting
person or entity, in a form reasonably acceptable to the Trustee, generally to
the effect that such person or entity is a prospective purchaser of any Class of
Certificates or an interest therein, is requesting the information solely for
use in evaluating a possible investment in such Certificates and will otherwise
keep such information confidential. Certificateholders, by the acceptance of
their Certificates, will be deemed to have agreed to keep such information
confidential. Notwithstanding the foregoing, however, no Certificateholder,
Certificate Owner or prospective purchaser will be required to keep confidential
any information received from the Trustee as described above that has previously
been made available via the Trustee's Internet Website or has previously been
filed with the Securities and Exchange Commission (the "SEC"), and the Trustee
will not be required to obtain either of the confirmations referred to in the
second preceding sentence in connection with providing any information that has
previously been made available via the Trustee's Internet Website or has
previously been filed with the SEC.
Upon written request of any Certificateholder of record made for purposes
of communicating with other Certificateholders with respect to their rights
under the Pooling and Servicing Agreement, the Certificate Registrar will
furnish such Certificateholder with a list of the other Certificateholders then
of record.
The Master Servicer, the Special Servicer, the Trustee, the Depositor and
the Certificate Registrar are required to recognize as Certificateholders only
those persons in whose names the Certificates are registered on the books and
records of the Certificate Registrar.
VOTING RIGHTS
At all times during the term of the Pooling and Servicing Agreement, 100%
of the voting rights for the Certificates (the "Voting Rights") will be
allocated among the respective Classes of Sequential Pay Certificates in
proportion to the Certificate Balances of those Classes. Voting Rights allocated
to a Class of Certificates will be allocated among the related
Certificateholders in proportion to the percentage interests in such Class
evidenced by their respective Certificates. The Class A-1, Class A-2 and Class
A-3 Certificates will be treated as one Class for determining the Controlling
Class. See "DESCRIPTION OF THE CERTIFICATES--Voting Rights" in the Prospectus.
TERMINATION
The obligations created by the Pooling and Servicing Agreement will
terminate upon the final distribution to the Certificateholders, which shall
follow the earlier of (i) the final payment (or advance in respect thereof) or
other liquidation of the last Mortgage Loan or REO Property subject thereto and
(ii) the purchase of all of the Mortgage Loans and all of the REO Properties
remaining in the Trust Fund, if any, by the Depositor or the Master Servicer.
Written notice of termination of the Pooling and Servicing Agreement will be
given to each Certificateholder, and the final distribution will be made only
upon surrender and cancellation of the Certificates at the office of the Trustee
or other registrar for the Certificates or at such other location as may be
specified in such notice of termination.
Any such purchase by the Master Servicer or the Depositor of all the
Mortgage Loans and all of the REO Properties, if any, remaining in the Trust
Fund is required to be made at a price equal to (i) the aggregate Purchase Price
of all the Mortgage Loans (other than REO Loans) then included in the Trust
Fund, plus (ii) the fair market value
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of all REO Properties then included in the Trust Fund, as determined by an
appraiser mutually agreed upon by the Master Servicer and the Trustee, minus
(iii) if the purchaser is the Master Servicer, the aggregate of amounts payable
or reimbursable to the Master Servicer or the Special Servicer, as applicable,
under the Pooling and Servicing Agreement. Such purchase will effect early
retirement of the then outstanding Offered Certificates, but the right of the
Master Servicer or the Depositor to effect such termination is subject to the
requirement that the then aggregate Stated Principal Balance of the Mortgage
Pool be less than 1% of the Initial Pool Balance.
The purchase price paid in connection with the purchase of all Mortgage
Loans and REO Properties remaining in the Trust Fund, exclusive of any portion
thereof payable or reimbursable (as if such purchase price constituted
Liquidation Proceeds) to any person other than the Certificateholders, will
constitute part of the Available Distribution Amount for the final Distribution
Date. The Available Distribution Amount for the final Distribution Date will be
distributed by the Trustee generally as described herein under
"--Distributions--Application of the Available Distribution Amount," except that
the distributions of principal on any Class of Sequential Pay Certificates
described thereunder will be made, subject to available funds and the
distribution priorities described thereunder, in an amount equal to the entire
Certificate Balance of such Class remaining outstanding.
THE TRUSTEE
Norwest Bank Minnesota, National Association ("Norwest Bank") will act as
Trustee pursuant to the Pooling and Servicing Agreement. Norwest Bank, a direct,
wholly owned subsidiary of Norwest Corporation, is a national banking
association originally chartered in 1872 and is engaged in a wide range of
activities typical of a national bank. Norwest Bank's principal office is
located at Norwest Center, Sixth and Marquette, Minneapolis, Minnesota
55479-0113. Certificate transfer services are conducted at Norwest Bank's
offices in Minneapolis. Norwest Bank otherwise conducts its trustee and
securities administration services at its offices in Columbia, Maryland. Its
address there is 11000 Broken Land Parkway, Columbia, Maryland 21044-3562. In
addition, Norwest Bank maintains a trust office in New York located at 3 New
York Plaza, New York, New York 10004. Certificateholders and other interested
parties should direct their inquiries to the New York office. The telephone
number is (212) 509-7900. See "DESCRIPTION OF THE POOLING AGREEMENTS--The
Trustee," "--Duties of the Trustee," "--Certain Matters Regarding the Trustee"
and "--Resignation and Removal of the Trustee" in the Prospectus. As
compensation for its services, the Trustee will be entitled to receive, from
general funds on deposit in the Certificate Account, the Trustee Fee. The
"Trustee Fee" for each Distribution Date will be equal to one-twelfth of the
product of (a) the Trustee Fee Rate and (b) the aggregate of the Certificate
Balances of the Sequential Pay Certificates immediately prior to such
Distribution Date. The "Trustee Fee Rate" will be a per annum rate equal to
0.005%.
The Trustee will also have certain duties with respect to REMIC
administration (in such capacity, the "REMIC Administrator"). See "MATERIAL
FEDERAL INCOME TAX CONSEQUENCES--REMICs--Reporting and Other Administrative
Matters" and "DESCRIPTION OF THE POOLING AGREEMENTS--Certain Matters Regarding
the Master Servicer, the Special Servicer, the REMIC Administrator and the
Sponsor," "--Events of Default" and "--Rights Upon Event of Default" in the
Prospectus.
YIELD AND MATURITY CONSIDERATIONS
YIELD CONSIDERATIONS
General. The yield on any Offered Certificate will depend on the price at
which such Certificate is purchased by an investor and the rate, timing and
amount of distributions on such Certificate. The rate, timing and amount of
distributions on any Offered Certificate will in turn depend on, among other
things, (i) the Pass-Through Rate for such Certificate, (ii) the rate and timing
of principal payments (including principal prepayments) and other principal
collections on the Mortgage Loans and the extent to which such amounts are to be
applied in reduction of the Certificate Balance or notional amount of the
related Class, (iii) the rate, timing and severity of Realized Losses and
Additional Trust Fund Expenses and the extent to which such losses and expenses
are allocable in reduction of the Certificate Balance or notional amount of the
related Class and (iv) the timing and severity of any Net Aggregate Prepayment
Interest Shortfalls and the extent to which such shortfalls are allocable in
reduction of the Distributable Certificate Interest payable on the related
Class.
Rate and Timing of Principal Payment. The yield to holders of the Class
A-PO and the Class IO Certificates will be extremely sensitive to, and the yield
to holders of any other Offered Certificates purchased at a discount or premium
will be affected by, the rate and timing of principal payments made in reduction
of the Certificate Balance of
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such Certificates (or, in the case of the Class IO Certificates, in reduction of
the notional amount of one or more of the Components thereof). As described
herein, the Principal Distribution Amount (up to the Class A-PO Principal
Distribution Amount) for each Distribution Date will be distributable first in
respect of the Class A-PO Certificates and then in respect of the Class A-1
Certificates until the Certificate Balance thereof is reduced to zero, and will
thereafter be distributable entirely in respect of the Class A-2 Certificates,
the Class A-3 Certificates, the Class B Certificates, the Class C Certificates,
the Class D Certificates and the Class E Certificates, in that order, in each
case until the Certificate Balance of such Class of Certificates is reduced to
zero. Any reduction of the Certificate Balance of any Class of Sequential Pay
Certificates will result in a corresponding reduction in the notional amount of
the related Component. Consequently, the rate and timing of principal payments
that are distributed or otherwise result in reduction of the Certificate Balance
or notional amount of each Class of Offered Certificates will be directly
related to the rate and timing of principal payments on or in respect of the
Mortgage Loans, which will in turn be affected by the amortization schedules
thereof, the dates on which Balloon Payments are due and the rate and timing of
principal prepayments and other unscheduled collections thereon (including for
this purpose, collections made in connection with liquidations of Mortgage Loans
due to defaults, casualties or condemnations affecting the Mortgaged Properties,
or purchases of Mortgage Loans out of the Trust Fund). Prepayments and, assuming
the respective stated maturity dates therefor have not occurred, liquidations
and purchases of the Mortgage Loans, will result in distributions on the Offered
Certificates (other than the Class IO Certificates) of amounts that would
otherwise be distributed over the remaining terms of the Mortgage Loans.
Defaults on the Mortgage Loans, particularly at or near their stated maturity
dates, may result in significant delays in payments of principal on the Mortgage
Loans (and, accordingly, on the Offered Certificates that are Sequential Pay
Certificates) while work-outs are negotiated or foreclosures are completed. See
"SERVICING OF THE MORTGAGE LOANS--Modifications, Waivers and Amendments" herein
and "DESCRIPTION OF THE POOLING AGREEMENTS--Realization Upon Defaulted Mortgage
Loans" and "CERTAIN LEGAL ASPECTS OF MORTGAGE LOANS--Foreclosure" in the
Prospectus.
The extent to which the yield to maturity of any Class of Offered
Certificates may vary from the anticipated yield will depend upon the degree to
which such Certificates are purchased at a discount or premium and when, and to
what degree, payments of principal on the Mortgage Loans in turn are distributed
or otherwise result in reduction of the Certificate Balance or notional amount
of such Certificates. An investor should consider, in the case of any Offered
Certificate purchased at a discount, the risk that a slower than anticipated
rate of principal payments on the Mortgage Loans could result in an actual yield
to such investor that is lower than the anticipated yield and, in the case of a
Class IO Certificate or any other Offered Certificate purchased at a premium,
the risk that a faster than anticipated rate of principal payments could result
in an actual yield to such investor that is lower than the anticipated yield. In
general, the earlier a payment of principal on the Mortgage Loans is distributed
or otherwise results in reduction of the Certificate Balance (or the notional
amount of a Component) of an Offered Certificate purchased at a discount or
premium, the greater will be the effect on an investor's yield to maturity. As a
result, the effect on an investor's yield of principal payments on the Mortgage
Loans occurring at a rate higher (or lower) than the rate anticipated by the
investor during any particular period would not be fully offset by a subsequent
like reduction (or increase) in the rate of such principal payments. Investors
in the Class A-PO Certificates should fully consider the risk that a slower than
expected rate of principal payments on the Mortgage Loans, particularly the
Discount Mortgage Loans, could result in a lower than expected yield on the
Class A-PO Certificates. Investors in the Class IO Certificates should fully
consider the risk that a rapid rate of principal payments on the Mortgage Loans
could result in the failure of such investors to recoup their initial
investments. Because the rate of principal payments on the Mortgage Loans will
depend on future events and a variety of factors (as described more fully
below), no assurance can be given as to such rate or the rate of principal
prepayments in particular. The Depositor is not aware of any relevant publicly
available or authoritative statistics with respect to the historical prepayment
experience of a large group of mortgage loans comparable to the Mortgage Loans.
Losses and Shortfalls. The yield to holders of the Offered Certificates
will also depend on the extent to which such holders are required to bear the
effects of any losses or shortfalls on the Mortgage Loans. Losses and other
shortfalls on the Mortgage Loans will, with the exception of any Net Aggregate
Prepayment Interest Shortfalls, generally be borne by the holders of the
respective Classes of Sequential Pay Certificates, to the extent of amounts
otherwise distributable in respect of their Certificates, in reverse
alphabetical order of their Class designations. Realized Losses and Additional
Trust Fund Expenses will be allocated, as and to the extent described herein, to
the respective Classes of Sequential Pay Certificates (in reduction of the
Certificate Balance of each such Class), in
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reverse alphabetical order of their Class designations. Any Realized Loss or
Additional Trust Fund Expense allocated in reduction of the Certificate Balance
of any Class of Sequential Pay Certificates will also result in a corresponding
reduction in the notional amount for the related Component. As more fully
described herein under "DESCRIPTION OF THE CERTIFICATES--Distributions--
Distributable Certificate Interest," Net Aggregate Prepayment Interest
Shortfalls will generally be borne by the respective Classes of REMIC Regular
Certificates on a pro rata basis.
Strip Rates. The Strip Rate applicable to the Class A-1, Class A-2, Class
A-3, Class B, Class C, Class D and Class E Components of the Class IO
Certificates for each Distribution Date will equal the Weighted Average Net
Mortgage Rate for such Distribution Date minus 6.31%, 6.48%, 6.72%, 6.75%,
6.75%, 6.75% and 6.75%, respectively (but not less than zero); and the Strip
Rate applicable to the Class F, Class G, Class H, Class J and Class K Components
of the Class IO Certificates for each Distribution Date will each equal the
Weighted Average Net Mortgage Rate for such Distribution Date minus 6.25% (but
not less than zero).
Certain Relevant Factors. The rate and timing of principal payments and
defaults and the severity of losses on the Mortgage Loans may be affected by a
number of factors, including, without limitation, prevailing interest rates, the
terms of the Mortgage Loans (for example, Lockout Periods, provisions requiring
the payment of Prepayment Premiums and amortization terms that require Balloon
Payments), the demographics and relative economic vitality of the areas in which
the Mortgaged Properties are located and the general supply and demand for
residential health care facility beds or comparable commercial space, as
applicable, in such areas, the quality of management of the Mortgaged
Properties, the servicing of the Mortgage Loans, possible changes in tax laws
and other opportunities for investment. See "RISK FACTORS--The Mortgage Loans"
and "DESCRIPTION OF THE MORTGAGE POOL" herein and "YIELD AND MATURITY
CONSIDERATIONS--Principal Prepayments" in the Prospectus.
The rate of prepayment on the Mortgage Pool is likely to be affected by
prevailing market interest rates for mortgage loans of a comparable type, term
and risk level. When the prevailing market interest rate is below a mortgage
interest rate, the related borrower has an incentive to refinance its mortgage
loan. As of the Cut-off Date, all of the Mortgage Loans may either be
voluntarily prepaid or defeased at any time after the expiration of the
applicable Lockout Period, subject, in most cases, to the payment of a Yield
Maintenance Charge or Percentage Premium. A requirement that a prepayment be
accompanied by a Prepayment Premium may not provide a sufficient economic
disincentive to deter a borrower from refinancing at a more favorable interest
rate.
Depending on prevailing market interest rates, the outlook for market
interest rates and economic conditions generally, some borrowers may sell or
refinance Mortgaged Properties in order to realize their equity therein, to meet
cash flow needs or to make other investments. In addition, some borrowers may be
motivated by federal and state tax laws (which are subject to change) to sell
Mortgaged Properties prior to the exhaustion of tax depreciation benefits.
The Depositor makes no representation as to the particular factors that
will affect the rate and timing of prepayments and defaults on the Mortgage
Loans, as to the relative importance of such factors, as to the percentage of
the principal balance of the Mortgage Loans that will be prepaid or as to
whether a default will have occurred as of any date or as to the overall rate of
prepayment or default on the Mortgage Loans.
Delay in Payment of Distributions. Because monthly distributions will not
be made to Certificateholders until a date that is scheduled to be at least five
days following the Due Dates for the Mortgage Loans during the related
Collection Period, the effective yield to the holders of the Offered
Certificates will be lower than the yield that would otherwise be produced by
the applicable Pass-Through Rates and purchase prices (assuming such prices did
not account for such delay).
Unpaid Distributable Certificate Interest. As described under "DESCRIPTION
OF THE CERTIFICATES--Distributions--Application of Available Distribution
Amount" herein, if the portion of the Available Distribution Amount
distributable in respect of interest on any Class of Offered Certificates on any
Distribution Date is less than the Distributable Certificate Interest then
payable for such Class, the shortfall will be distributable to holders of such
Class of Certificates on subsequent Distribution Dates, to the extent of
available funds. Any such shortfall will not bear interest, however, and will
therefore negatively affect the yield to maturity of such Class of Certificates
for so long as it is outstanding.
Yield Sensitivity of the Class IO Certificates. The yield to maturity on
the Class IO Certificates will be extremely sensitive to the rate and timing of
principal payments (including by reason of prepayments, defaults and
liquidations) on the Mortgage Loans. Accordingly, investors in the Class IO
Certificates should fully consider the associated risks, including the risk that
a rapid rate of prepayment of the Mortgage Loans could result in the failure of
such investors to fully recoup their initial investments. The allocation of a
portion of collected Percentage Premiums
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or Yield Maintenance Charges to the Class IO Certificates is intended to reduce
those risks; however, such allocation may be insufficient to offset fully the
adverse effects on the yields on such Class of Certificates that the related
prepayments may otherwise have.
Prepayments on mortgage loans may be measured by a prepayment standard or
model. The model used in this Prospectus Supplement is the "Constant Prepayment
Rate" or "CPR" model. The CPR model represents an assumed constant annual rate
of prepayment each month, expressed as a per annum percentage of the then
scheduled principal balance of one or more mortgage loans. As used in the
following table, the column headed "0%" assumes that none of the Mortgage Loans
are prepaid in whole or in part before maturity. The columns headed "5%" and
"10%," respectively, assume that prepayments are made each month at those levels
of CPR on each Mortgage Loan whether or not it is then in its Lockout Period, if
any.
The following table indicates the approximate pre-tax yields to maturity
(on a corporate bond equivalent basis ("CBE")) on the Class IO Certificates for
the specified CPRs. Such calculations are based on the following assumptions
("Modeling Assumptions"): (i) no prepayment restrictions apply and each Mortgage
Loan is assumed to prepay at the indicated level of CPR, with the CPR in each
case being applied on the first day of each month to that portion of the
scheduled principal amount of the Mortgage Loan that is outstanding, (ii) the
initial Certificate Balances of the Sequential Pay Certificates and Class A-PO
Certificates and the Pass-Through Rates for the REMIC Regular Certificates are
as described in the Summary hereof, (iii) there are no delinquencies or
Additional Trust Fund Expenses, (iv) scheduled interest and principal payments
on the Mortgage Loans are timely received, except as described above, and
prepayments are made on the Mortgage Loans on their respective Due Dates
(assumed in all cases to be the first day of each month) at the indicated levels
of CPR set forth in the tables, (v) partial prepayments on the Mortgage Loans
are permitted, but are assumed not to affect the amortization schedules, (vi) no
Prepayment Premiums are collected, (vii) neither the Master Servicer nor the
Depositor exercises its right of optional termination of the Trust Fund
described herein, (viii) no Mortgage Loan is required to be purchased from the
Trust Fund, (ix) there are no Prepayment Interest Shortfalls or Appraisal
Reductions, (x) distributions on the Certificates are made on the 15th day (each
assumed to be a business day) of each month, commencing in April 1998, (xi) the
assumed settlement date for the Certificates is March 31, 1998, (xii) the
Quarterly Pay Loans are assumed to pay principal on a quarterly basis and
interest on a monthly basis, (xiii) the Mortgage Rate for Mortgage Loan Control
Number 58 is assumed to be 8.8177147914% per annum and (xiv) for Mortgage Loan
Control Number 21, it was assumed that only the Percentage Premium was
applicable to such Mortgage Loan and the Yield Maintenance provision was
ignored.
PRE-TAX YIELD TO MATURITY (CBE) OF THE CLASS IO CERTIFICATES
BREAK-EVEN PRE-TAX YIELD TO MATURITY AT
ASSUMED PURCHASE PRICE CPR% AT ---------------------------------
(INCLUDING ACCRUED INTEREST) 0% YIELD (A) 0% CPR 5% CPR 10% CPR
- ---------------------------- ------------ ------ ------ -------
$40,260,440 9.40% 9.67% 4.27% (0.57%)
$42,481,341 8.48% 8.69% 3.35% (1.45%)
$44,904,143 7.54% 7.70% 2.43% (2.32%)
- ----------
(A) The Break-Even CPR% is the approximate CPR% for each assumed purchase price
where the pre-tax yield to maturity (CBE) is approximately 0%.
The pre-tax yields set forth in the preceding table were calculated by
determining the monthly discount rates that, when applied to the assumed streams
of cash flow to be paid on the Class IO Certificates, would cause the discounted
present value of such assumed stream of cash flows to equal the assumed
aggregate purchase price of the Class IO Certificates, which includes accrued
interest, and by converting such monthly rates to corporate bond equivalent
rates. Such calculation does not take into account shortfalls in collection of
interest due to prepayments (or other liquidations) on the Mortgage Loans or the
interest rates at which investors may be able to reinvest funds received by them
as distributions on the Class IO Certificates (and consequently does not purport
to reflect the return on any investment in the Class IO Certificates when such
reinvestment rates are considered).
The characteristics of the Mortgage Loans differ in substantial respects
from those assumed in preparing the table above, and the table is presented for
illustrative purposes only. In particular, none of the Mortgage Loans permit
s-80
<PAGE>
voluntary partial prepayments, and many of the Mortgage Loans are subject to
Lockout Periods which were disregarded in preparing the table. Thus, neither the
Mortgage Pool nor any Mortgage Loan will prepay at any constant rate. In
addition, there can be no assurance that the Mortgage Loans will prepay at any
particular rate, that the actual pre-tax yields on the Class IO Certificates
will correspond to any of the pre-tax yields shown herein or that the aggregate
purchase prices of the Class IO Certificates will be those assumed. Accordingly,
investors must make their own decisions as to the appropriate assumptions
(including prepayment assumptions) to be used in deciding whether to purchase
the Class IO Certificates.
Yield Sensitivity of the Class A-PO Certificates. The yield to maturity on
the Class A-PO Certificates will be extremely sensitive to the rate and timing
of principal payments (including by reason of prepayments, defaults and
liquidations) on the Mortgage Loans, particularly the Discount Mortgage Loans.
Accordingly, investors in the Class A-PO Certificates should fully consider the
associated risks, including the risk that a slower than expected rate of
prepayment of the Mortgage Loans, particularly the Discount Mortgage Loans,
could result in a lower than expected yield on the Class A-PO Certificates.
The following table indicates the approximate pre-tax yields to maturity
(on a corporate bond equivalent basis ("CBE")) on the Class A-PO Certificates
for the specified CPRs. Such calculations are based on the Modeling Assumptions
(except for assumption (i)), and on the further assumptions described in the
designated scenarios on page S-82.
PRE-TAX YIELD TO MATURITY (CBE) OF THE CLASS A-PO CERTIFICATES
PRE-TAX YIELD TO MATURITY AT
------------------------------------------
ASSUMED PURCHASE PRICE 0% CPR 5% CPR 10% CPR
- ---------------------- ------ ------ -------
1 2 3
$568,118 7.75% 7.75% 7.75%
$582,815 7.50% 7.50% 7.50%
$597,511 7.27% 7.27% 7.27%
The pre-tax yields set forth in the preceding table were calculated by
determining the monthly discount rates that, when applied to the assumed streams
of cash flow to be paid on the Class A-PO Certificates, would cause the
discounted present value of such assumed stream of cash flows to equal the
assumed purchase price of the Class A-PO Certificates and by converting such
monthly rates to corporate bond equivalent rates. Such calculation does not take
into account principal due to liquidation on the Mortgage Loans or the interest
rates at which investors may be able to reinvest funds received by them as
distributions on the Class A-PO Certificates (and consequently does not purport
to reflect the return on any investment in the Class A-PO Certificates when such
reinvestment rates are considered).
The characteristics of the Mortgage Loans differ in substantial respects
from those assumed in preparing the table above, and the table is presented for
illustrative purposes only. Thus, neither the Mortgage Pool nor any Mortgage
Loan will prepay at any constant rate. In addition, there can be no assurance
that the Mortgage Loans will prepay at any particular rate, that the actual
pre-tax yields on the Class A-PO Certificates will correspond to any of the
pre-tax yields shown herein or that the purchase prices of the Class A-PO
Certificates will be those assumed. Accordingly, investors must make their own
decisions as to the appropriate assumptions (including prepayment assumptions)
to be used in deciding whether to purchase the Class A-PO Certificates.
WEIGHTED AVERAGE LIFE
The weighted average life of any Class A-1, Class A-2, Class A-3, Class
A-PO, Class B, Class C, Class D or Class E Certificate refers to the average
amount of time that will elapse from the date of its issuance until each dollar
allocable to principal of such Certificate is distributed to the investor. The
weighted average life of any such Offered Certificate will be influenced by,
among other things, the rate at which principal on the Mortgage Loans is paid or
otherwise collected or advanced and applied to pay principal of such Offered
Certificate. Any delay in collection of a Balloon Payment due at the maturity of
a Mortgage Loan will likely extend the weighted average life of the Class or
Classes of Offered Certificates entitled to distributions in respect of
principal as of the date such Balloon Payment was
S-81
<PAGE>
due. As described herein, the Principal Distribution Amount (up to the Class
A-PO Principal Distribution Amount) for each Distribution Date will be
distributable first in respect of the Class A-PO Certificates and then in
respect of the Class A-1 Certificates until the Certificate Balance thereof is
reduced to zero, and will thereafter be distributable entirely in respect of the
Class A-2 Certificates, the Class A-3 Certificates, the Class B Certificates,
the Class C Certificates, the Class D Certificates and the Class E Certificates,
in that order, in each case until the Certificate Balance of such Class of
Certificates is reduced to zero.
The following tables indicate the percentage of the initial Certificate
Balance of each Class of Offered Certificates (other than the Class IO
Certificates) that would be outstanding after each of the dates shown under each
of the designated scenarios (each, a "Scenario") and the corresponding weighted
average life of each such Class of Offered Certificates. The tables have been
prepared on the basis of, among others, the assumptions described below. To the
extent that the Mortgage Loans or the Certificates have characteristics that
differ from those assumed in preparing the tables, the Class A-1, Class A-2,
Class A-3, Class A-PO, Class B, Class C, Class D and/or Class E Certificates may
mature earlier or later than indicated by the tables. Accordingly, the Mortgage
Loans will not prepay at any constant rate, and it is highly unlikely that the
Mortgage Loans will prepay in a manner consistent with the assumptions
underlying any of the Scenarios. In addition, variations in the actual
prepayment experience and the balance of the Mortgage Loans that prepay may
increase or decrease the percentages of initial Certificate Balances (and
shorten or extend the weighted average lives) shown in the following tables.
Investors are urged to conduct their own analyses of the rates at which the
Mortgage Loans may be expected to prepay.
The tables set forth below were prepared on the basis of the Modeling
Assumptions, except that it was assumed that there are no prepayments on the
Mortgage Loans other than in accordance with the designated Scenario. The
Scenarios are as follows:
Scenario (1): No Mortgage Loan prepays; that is,
the CPR for the Mortgage Pool is
0%.
Scenarios (2), (3), (4) and (5): No Mortgage Loan (including
Mortgage Loans allowing defeasance
but not voluntary prepayment during
the Lock-Out Period) prepays during
a month in which a Lockout Period
is in effect or in which
prepayments on such Mortgage Loan
are required to be accompanied by a
Yield Maintenance Charge. All other
Mortgage Loans prepay each month at
the rate of 5% CPR in the case of
Scenario (2), 10% CPR in the case
of Scenario (3), 15% in the case of
Scenario (4) and 25% in the case of
Scenario (5).
Based on the above-referenced assumptions, the following eight tables
indicate the resulting weighted average lives of each Class of Offered
Certificates (other than the Class IO Certificates) and sets forth the
percentages of the initial Certificate Balance of such Class of Offered
Certificates that would be outstanding after each of the dates shown under each
of the designated Scenarios. For purposes of the following tables, the weighted
average life is determined by (i) multiplying the amount of each principal
distribution thereon by the number of years from the date of issuance of such
Certificate to the related Distribution Date, (ii) summing the results and (iii)
dividing the sum by the aggregate amount of the reductions in the principal
balance of such Certificate.
S-82
<PAGE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS A-1 CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR
DURING LOCKOUT OR YLD. MAINT.-OTHERWISE AT INDICATED CPR
------------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- ------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 93 93 93 93 93
March 15, 2000 84 84 84 84 84
March 15, 2001 75 75 75 75 75
March 15, 2002 65 65 65 65 65
March 15, 2003 53 53 53 53 53
March 15, 2004 41 41 41 41 41
March 15, 2005 27 27 27 27 27
March 15, 2006 11 11 11 11 11
March 15, 2007 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 5.0 5.0 5.0 5.0 5.0
</TABLE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS A-2 CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR
DURING LOCKOUT OR YLD. MAINT.-OTHERWISE AT INDICATED CPR
------------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- ------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 100 100 100 100 100
March 15, 2000 100 100 100 100 100
March 15, 2001 100 100 100 100 100
March 15, 2002 100 100 100 100 100
March 15, 2003 100 100 100 100 100
March 15, 2004 100 100 100 100 100
March 15, 2005 100 100 100 100 100
March 15, 2006 100 100 100 100 100
March 15, 2007 92 91 91 91 90
March 15, 2008 45 45 44 43 42
March 15, 2009 14 13 12 11 10
March 15, 2010 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 10.0 10.0 9.9 9.9 9.9
</TABLE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS A-3 CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR
DURING LOCKOUT OR YLD. MAINT.-OTHERWISE AT INDICATED CPR
------------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- ------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 100 100 100 100 100
March 15, 2000 100 100 100 100 100
March 15, 2001 100 100 100 100 100
March 15, 2002 100 100 100 100 100
March 15, 2003 100 100 100 100 100
March 15, 2004 100 100 100 100 100
March 15, 2005 100 100 100 100 100
March 15, 2006 100 100 100 100 100
March 15, 2007 100 100 100 100 100
March 15, 2008 100 100 100 100 100
March 15, 2009 100 100 100 100 100
March 15, 2010 89 88 88 88 87
March 15, 2011 76 75 75 75 75
March 15, 2012 62 62 62 62 62
March 15, 2013 47 47 47 47 47
March 15, 2014 32 32 32 32 31
March 15, 2015 15 15 15 15 14
March 15, 2016 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 14.7 14.7 14.7 14.7 14.7
</TABLE>
S-83
<PAGE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS A-PO CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR DURING LOCKOUT
OR YLD. MAINT.-OTHERWISE
AT INDICATED CPR
-----------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 98 98 98 98 98
March 15, 2000 96 96 96 96 96
March 15, 2001 94 94 94 94 94
March 15, 2002 92 92 92 92 92
March 15, 2003 89 89 89 89 89
March 15, 2004 86 86 86 86 86
March 15, 2005 83 83 83 83 83
March 15, 2006 80 80 80 80 80
March 15, 2007 76 76 76 76 76
March 15, 2008 72 72 72 72 72
March 15, 2009 68 68 68 68 68
March 15, 2010 64 64 64 64 64
March 15, 2011 59 59 59 59 59
March 15, 2012 55 55 55 55 55
March 15, 2013 50 50 50 50 50
March 15, 2014 46 46 46 46 46
March 15, 2015 41 41 41 41 41
March 15, 2016 35 35 35 35 35
March 15, 2017 29 29 29 29 29
March 15, 2018 23 23 23 23 23
March 15, 2019 17 17 17 17 17
March 15, 2020 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 14.1 14.1 14.1 14.1 14.1
</TABLE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS B CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR DURING LOCKOUT
OR YLD. MAINT.-OTHERWISE
AT INDICATED CPR
-----------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 100 100 100 100 100
March 15, 2000 100 100 100 100 100
March 15, 2001 100 100 100 100 100
March 15, 2002 100 100 100 100 100
March 15, 2003 100 100 100 100 100
March 15, 2004 100 100 100 100 100
March 15, 2005 100 100 100 100 100
March 15, 2006 100 100 100 100 100
March 15, 2007 100 100 100 100 100
March 15, 2008 100 100 100 100 100
March 15, 2009 100 100 100 100 100
March 15, 2010 100 100 100 100 100
March 15, 2011 100 100 100 100 100
March 15, 2012 100 100 100 100 100
March 15, 2013 100 100 100 100 100
March 15, 2014 100 100 100 100 100
March 15, 2015 100 100 100 100 100
March 15, 2016 80 79 78 77 76
March 15, 2017 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 18.3 18.2 18.2 18.2 18.2
</TABLE>
S-84
<PAGE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS C CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR DURING LOCKOUT
OR YLD. MAINT.-OTHERWISE
AT INDICATED CPR
-----------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 100 100 100 100 100
March 15, 2000 100 100 100 100 100
March 15, 2001 100 100 100 100 100
March 15, 2002 100 100 100 100 100
March 15, 2003 100 100 100 100 100
March 15, 2004 100 100 100 100 100
March 15, 2005 100 100 100 100 100
March 15, 2006 100 100 100 100 100
March 15, 2007 100 100 100 100 100
March 15, 2008 100 100 100 100 100
March 15, 2009 100 100 100 100 100
March 15, 2010 100 100 100 100 100
March 15, 2011 100 100 100 100 100
March 15, 2012 100 100 100 100 100
March 15, 2013 100 100 100 100 100
March 15, 2014 100 100 100 100 100
March 15, 2015 100 100 100 100 100
March 15, 2016 100 100 100 100 100
March 15, 2017 57 56 55 54 53
March 15, 2018 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 19.1 19.1 19.1 19.1 19.1
</TABLE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS D CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR DURING LOCKOUT
OR YLD. MAINT.-OTHERWISE
AT INDICATED CPR
-----------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 100 100 100 100 100
March 15, 2000 100 100 100 100 100
March 15, 2001 100 100 100 100 100
March 15, 2002 100 100 100 100 100
March 15, 2003 100 100 100 100 100
March 15, 2004 100 100 100 100 100
March 15, 2005 100 100 100 100 100
March 15, 2006 100 100 100 100 100
March 15, 2007 100 100 100 100 100
March 15, 2008 100 100 100 100 100
March 15, 2009 100 100 100 100 100
March 15, 2010 100 100 100 100 100
March 15, 2011 100 100 100 100 100
March 15, 2012 100 100 100 100 100
March 15, 2013 100 100 100 100 100
March 15, 2014 100 100 100 100 100
March 15, 2015 100 100 100 100 100
March 15, 2016 100 100 100 100 100
March 15, 2017 100 100 100 100 100
March 15, 2018 25 24 23 23 22
March 15, 2019 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 19.8 19.8 19.8 19.8 19.8
</TABLE>
S-85
<PAGE>
PERCENTAGES OF THE INITIAL CERTIFICATE BALANCE OF THE
CLASS E CERTIFICATES UNDER EACH DESIGNATED SCENARIO
<TABLE>
<CAPTION>
0% CPR DURING LOCKOUT
OR YLD. MAINT.-OTHERWISE
AT INDICATED CPR
-----------------------------------------------------------
(0% CPR) (5% CPR) (10% CPR) (15% CPR) (25% CPR)
DISTRIBUTION DATE 1 2 3 4 5
----------------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100
March 15, 1999 100 100 100 100 100
March 15, 2000 100 100 100 100 100
March 15, 2001 100 100 100 100 100
March 15, 2002 100 100 100 100 100
March 15, 2003 100 100 100 100 100
March 15, 2004 100 100 100 100 100
March 15, 2005 100 100 100 100 100
March 15, 2006 100 100 100 100 100
March 15, 2007 100 100 100 100 100
March 15, 2008 100 100 100 100 100
March 15, 2009 100 100 100 100 100
March 15, 2010 100 100 100 100 100
March 15, 2011 100 100 100 100 100
March 15, 2012 100 100 100 100 100
March 15, 2013 100 100 100 100 100
March 15, 2014 100 100 100 100 100
March 15, 2015 100 100 100 100 100
March 15, 2016 100 100 100 100 100
March 15, 2017 100 100 100 100 100
March 15, 2018 100 100 100 100 100
March 15, 2019 (and thereafter) 0 0 0 0 0
Weighted Average Life (in years) 20.4 20.4 20.4 20.4 20.4
</TABLE>
USE OF PROCEEDS
Substantially all of the proceeds from the sale of the Offered Certificates
will be used by the Depositor to purchase the Mortgage Loans and to pay certain
expenses in connection with the issuance of the Certificates.
MATERIAL FEDERAL INCOME TAX CONSEQUENCES
Upon the issuance of the Offered Certificates, Willkie Farr & Gallagher,
counsel to the Depositor, will deliver and file with the Commission its opinion
generally to the effect that, assuming compliance with all provisions of the
Pooling and Servicing Agreement, for federal income tax purposes, each portion
of the Trust Fund designated in the Pooling and Servicing Agreement as a REMIC
will qualify as a REMIC under the Code. The assets of one of such REMICs will
generally consist of the Mortgage Loans, any REO Properties acquired by the
Trust Fund on behalf of the Certificateholders and the Certificate Account. For
federal income tax purposes, the REMIC Regular Certificates (or, in the case of
the Class IO Certificates, each Component thereof) will represent the "regular
interests" in one of such REMICs and generally will be treated as debt
instruments of such REMIC. See "MATERIAL FEDERAL INCOME TAX
CONSEQUENCES--REMICs" in the Prospectus.
The Class A-1, Class A-2, Class A-3, Class B, Class C and Class D
Certificates will not, and the Class E, Class A-PO and Class IO Certificates
will, be treated as having been issued with original issue discount for federal
income tax reporting purposes. The prepayment assumption that will be used in
determining the rate of accrual of original issue discount, market discount and
premium, if any, for federal income tax purposes will be based on the assumption
that subsequent to the date of any determination the Mortgage Loans will prepay
at a rate equal to a CPR of 0%. No representation is made that the Mortgage
Loans will prepay at that rate or at any other rate. See "MATERIAL FEDERAL
INCOME TAX CONSEQUENCES--REMICs--Taxation of Owners of REMIC Regular
Certificates--Original Issue Discount" in the Prospectus.
S-86
<PAGE>
If the method for computing original issue discount described in the
Prospectus results in a negative amount for any period with respect to a
Certificateholder (in particular, the holder of a Class IO Certificate), the
amount of original issue discount allocable to such period would be zero and
such Certificateholder would be permitted to offset such negative amount only
against future original issue discount (if any) attributable to such
Certificates. Although the matter is not free from doubt, a holder of a Class IO
Certificate may be permitted to deduct a loss to the extent that his or her
respective remaining basis in such Certificate exceeds the maximum amount of
future payments to which such Certificateholder is entitled, assuming no further
prepayments of the Mortgage Loans. Any such loss might be treated as a capital
loss.
The Internal Revenue Service (the "IRS") has issued regulations (the "OID
Regulations") under Sections 1271 through 1275 of the Code generally addressing
the treatment of debt instruments issued with original issue discount. The OID
Regulations in some circumstances permit the holder of a debt instrument to
recognize original issue discount under a method that differs from that used by
the issuer. Accordingly, it is possible that the holder of an Offered
Certificate may be able to select a method for recognizing original issue
discount that differs from that used by the Trustee in preparing reports to the
Certificateholders and the IRS. Prospective purchasers of Offered Certificates
are advised to consult their tax advisors concerning the tax treatment of such
Certificates.
The Offered Certificates will be treated as "real estate assets" within the
meaning of Section 856(c)(5)(A) of the Code. In addition, interest (including
original issue discount) on the Offered Certificates will be interest described
in Section 856(c)(3)(B) of the Code. However, the Offered Certificates will
generally only be considered assets described in Section 7701(a)(19)(C) of the
Code to the extent that the Mortgage Loans are secured by residential property
and, accordingly, investment in the Offered Certificates may not be suitable for
certain thrift institutions.
Prepayment Premiums actually collected will be distributed to the holders
of the Offered Certificates as described herein. It is not entirely clear under
the Code when the amount of a Prepayment Premium should be taxed to the holder
of an Offered Certificate, but it is not expected, for federal income tax
reporting purposes, that Prepayment Premiums will be treated as giving rise to
any income to the holders of the Offered Certificates prior to the Master
Servicer's actual receipt of a Prepayment Premium. It appears that Prepayment
Premiums, if any, will be treated as ordinary income rather than capital gain.
However, this conclusion is not entirely clear and Certificateholders should
consult their own tax advisors concerning the treatment of Prepayment Premiums.
For further information regarding the federal income tax consequences of
investing in the Offered Certificates, see "MATERIAL FEDERAL INCOME TAX
CONSEQUENCES--REMICs" in the Prospectus.
ERISA CONSIDERATIONS
A fiduciary of any employee benefit plan or other retirement plan or
arrangement, including individual retirement accounts and annuities, Keogh plans
and collective investment funds, separate accounts and general accounts in which
such plans, accounts or arrangements are invested, that is subject to the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or
Section 4975 of the Code (each, a "Plan") should carefully review with its legal
advisors whether the purchase or holding of Offered Certificates could give rise
to a transaction that is prohibited or is not otherwise permitted either under
ERISA or Section 4975 of the Code or whether there exists any statutory or
administrative exemption applicable thereto.
The U.S. Department of Labor issued to Merrill Lynch an individual
prohibited transaction exemption, Prohibited Transaction Exemption 90-29 (the
"Exemption"), which generally exempts from the application of the prohibited
transaction provisions of Section 406(a) and (b) and 407(a) of ERISA, and the
excise taxes imposed on such prohibited transactions pursuant to Sections
4975(a) and (b) of the Code and Section 501(i) of ERISA, certain transactions,
among others, relating to the servicing and operation of mortgage pools, such as
the Mortgage Pool, and the purchase, sale and holding of mortgage pass-through
certificates, such as the Senior Certificates, underwritten by an "underwriter,"
provided that certain conditions set forth in the Exemption are satisfied. For
purposes of this discussion, the term "underwriter" shall include (a) Merrill
Lynch, (b) any person directly or indirectly, through one or more
intermediaries, controlling, controlled by or under common control with Merrill
Lynch and (c) any member of the underwriting syndicate or selling group of which
a person described in (a) or (b) is a manager or co-manager with respect to the
Senior Certificates.
The Exemption sets forth six general conditions that must be satisfied for
a transaction involving the purchase, sale and holding of Class A-1, Class A-2,
Class A-3, Class A-PO and Class IO Certificates to be eligible for exemptive
S-87
<PAGE>
relief thereunder. First, the acquisition of the Certificates by a Plan must be
on terms that are at least as favorable to the Plan as they would be in an
arm's-length transaction with an unrelated party. Second, the rights and
interests evidenced by such Certificates must not be subordinated to the rights
and interests evidenced by the other certificates of the same trust. Third, such
Certificates at the time of acquisition by the Plan must be rated in one of the
three highest generic rating categories by Standard & Poor's, DCR, Moody's or
Fitch IBCA, Inc. ("Fitch"). Fourth, the Trustee cannot be an affiliate of any
other member of the "Restricted Group," which consists of the Underwriters, the
Depositor, the Master Servicer, the Special Servicer, the Trustee, any
sub-servicer, and any borrower with respect to Mortgage Loans constituting more
than 5% of the aggregate unamortized principal balance of the Mortgage Loans as
of the date of initial issuance of such Certificates. Fifth, the sum of all
payments made to and retained by the Underwriter must represent not more than
reasonable compensation for underwriting such Certificates; the sum of all
payments made to and retained by the Depositor pursuant to the assignment of the
Mortgage Loans to the Trust Fund must represent not more than the fair market
value of such obligations; and the sum of all payments made to and retained by
the Master Servicer, the Special Servicer or any sub-servicer must represent not
more than reasonable compensation for such person's services under the Pooling
and Servicing Agreement and reimbursement of such person's reasonable expenses
in connection therewith. Sixth, the investing Plan must be an accredited
investor as defined in Rule 501(a)(1) of Regulation D of the Securities and
Exchange Commission under the Securities Act.
Because none of the Class A-1, Class A-2, Class A-3, Class A-PO and Class
IO Certificates are subordinated to any other Class of Certificates, the second
general condition set forth above is satisfied with respect to such
Certificates. It is a condition of the issuance of the Class A-1, Class A-2 and
Class A-3 Certificates that they be rated not lower than "Aaa" by Moody's and
"AAA" by Standard & Poor's and that the Class A-PO and Class IO Certificates be
rated not lower than "Aaa" by Moody's and "AAAr" by Standard & Poor's; thus, the
third general condition set forth above is satisfied with respect to such
Certificates as of the Closing Date. In addition, the fourth general condition
set forth above is also satisfied as of the Closing Date. A fiduciary of a Plan
contemplating purchasing any such Certificate in the secondary market must make
its own determination that, at the time of such purchase, such Certificate
continues to satisfy the third and fourth general conditions set forth above. A
fiduciary of a Plan contemplating the purchase of any such Certificate must make
its own determination that the first, fifth and sixth general conditions set
forth above will be satisfied with respect to such Certificate as of the date of
such purchase.
The Exemption also requires that the Trust Fund meet the following
requirements: (i) the Trust Fund must consist solely of assets of the type that
have been included in other investment pools; (ii) certificates in such other
investment pools must have been rated in one of the three highest categories of
Standard & Poor's, DCR, Moody's or Fitch for at least one year prior to the
Plan's acquisition of such Certificates; and (iii) certificates in such other
investment pools must have been purchased by investors other than Plans for at
least one year prior to any Plan's acquisition of such Certificates. The
Depositor has confirmed to its satisfaction that such requirements have been
satisfied as of the date hereof.
If the general conditions of the Exemption are satisfied, the Exemption may
provide an exemption from the restrictions imposed by Sections 406(a) and 407(a)
of ERISA (as well as the excise taxes imposed by Sections 4975(a) and (b) of the
Code by reason of Sections 4975(c)(1)(A) through (D) of the Code) in connection
with (i) the direct or indirect sale, exchange or transfer of such Certificates
in the initial issuance of Certificates between the Depositor or an Underwriter
and a Plan when the Depositor, an Underwriter, Trustee, Master Servicer, Special
Servicer, sub-servicer or borrower is a "Party in Interest," as defined in the
Prospectus, with respect to the investing Plan, (ii) the direct or indirect
acquisition or disposition in the secondary market of Senior Certificates by a
Plan and (iii) the holding of Senior Certificates by a Plan. However, no
exemption is provided from the restrictions of Sections 406(a)(1)(E), 406(a)(2)
and 407 of ERISA for the acquisition or holding of such Certificate on behalf of
an "Excluded Plan" by any person who has discretionary authority or renders
investment advice with respect to the assets of such Excluded Plan. For purposes
hereof, an Excluded Plan is a Plan sponsored by any member of the Restricted
Group.
If certain specific conditions of the Exemption are also satisfied, the
Exemption may provide an exemption from the restrictions imposed by Sections
406(b)(1) and (b)(2) of ERISA and the taxes imposed by Section 4975(c)(1)(E) of
the Code in connection with (1) the direct or indirect sale, exchange or
transfer of Senior Certificates in the initial issuance of Certificates between
the Depositor or an underwriter and a Plan when the person who has discretionary
authority or renders investment advice with respect to the investment of such
Plan's assets in such Certificates is (a) a borrower with respect to 5% or less
of the fair market value of the Mortgage Loans or (b) an affiliate of such a
person,
S-88
<PAGE>
(2) the direct or indirect acquisition or disposition in the secondary market of
Senior Certificates by such Plan and (3) the holding of such Certificates by
such Plan.
Further, if certain specific conditions of the Exemption are satisfied, the
Exemption may provide an exemption from the restrictions imposed by Sections
406(a), 406(b) and 407(a) of ERISA, and the taxes imposed by Sections 4975(a)
and (b) of the Code by reason of Section 4975(c) of the Code for transactions in
connection with the servicing, management and operation of the Mortgage Pool.
The Depositor expects that the specific conditions of the Exemption required for
this purpose will be satisfied with respect to the Senior Certificates.
The Exemption also may provide an exemption from the restrictions imposed
by Sections 406(a) and 407(a) of ERISA, and the taxes imposed by Sections
4975(a) and (b) of the Code by reason of Sections 4975(c)(1)(A) through (D) of
the Code if such restrictions are deemed to otherwise apply merely because a
person is deemed to be a Party in Interest with respect to an investing Plan by
virtue of providing services to the Plan (or by virtue of having certain
specified relationships to such a person) solely as a result of the Plan's
ownership of the Senior Certificates. A purchaser of any such Certificate should
be aware, however, that even if the conditions specified in one or more
Exemptions are satisfied, the scope of relief provided by an Exemption may not
cover all acts that may be considered prohibited transactions.
Before purchasing any Senior Certificate, a fiduciary of a Plan should
itself confirm that the specific and general conditions of the Exemption and the
other requirements set forth in the Exemption would be satisfied. In addition to
making its own determination as to the availability of the exemptive relief
provided in the Exemption, the Plan fiduciary should consider the availability
of any other prohibited transaction exemptions. See "ERISA CONSIDERATIONS" in
the Prospectus.
The characteristics of the Class B, Class C, Class D and Class E
Certificates do not meet the requirements of the Exemptions. Accordingly,
Certificates of those Classes may not be acquired by a Plan, other than an
insurance company general account, which may be able to rely on Section III of
PTE 95-60 (discussed below).
Section III of Prohibited Transaction Class Exemption 95-60 ("PTE 95-60")
exempts from the application of the prohibited transaction provisions of
Sections 406(a), 406(b) and 407(a) of ERISA and Section 4975 of the Code
transactions in connection with the servicing, management and operation of a
trust (such as the Trust Fund) in which an insurance company general account has
an interest as a result of its acquisition of certificates issued by the trust,
provided that certain conditions are satisfied. If these conditions are met,
insurance company general accounts would be allowed to purchase classes of
Certificates (such as the Class B, Class C, Class D and Class E Certificates)
which do not meet the requirements of the Exemption solely because they (i) are
subordinated to other classes of Certificates in the Trust Fund and/or (ii) have
not received a rating at the time of the acquisition in one of the three highest
rating categories from Standard & Poor's, Moody's, DCR or Fitch. All other
conditions of the Exemption would have to be satisfied in order for PTE 95-60 to
be available. Before purchasing Class B, Class C, Class D and Class E
Certificates, an insurance company general account seeking to rely on Section
III of PTE 95-60 should itself confirm that all applicable conditions and other
requirements have been satisfied.
Insurance company general accounts purchasing any Class of Certificates may
also be able to rely on relief from certain fiduciary provisions of ERISA
provided under Section 401(c) of ERISA. Insurance companies seeking to rely on
such relief should independently determine whether, and the extent to which,
such relief is available.
LEGAL INVESTMENT
Any Offered Certificates rated in the category of "AAA" or "AA" (or the
equivalent) by at least one Rating Agency will constitute "mortgage related
securities" for purposes of the Secondary Mortgage Market Enhancement Act of
1984, as amended ("SMMEA"). However, no representation can be made as to whether
any of the Offered Certificates will constitute "commercial mortgage related
securities" and thus as "Type IV securities" for purposes of the legal
investment authority of depository institutions. All other Offered Certificates
(the "Non-SMMEA Certificates") will not constitute "mortgage related securities"
for purposes of SMMEA. As a result, the appropriate characterization of the
Non-SMMEA Certificates under various legal investment restrictions, and thus the
ability of investors subject to these restrictions to purchase the Non-SMMEA
Certificates of any Class, may be subject to
S-89
<PAGE>
significant interpretative uncertainties. In addition, institutions whose
investment activities are subject to review by federal or state regulatory
authorities may be or may become subject to restrictions on the investment by
such institutions in certain forms of mortgage related securities. Investors
should consult their own legal advisors to determine whether and to what extent
the Offered Certificates constitute legal investments for them. See "LEGAL
INVESTMENT" in the Prospectus.
The Depositor makes no representation as to the ability of particular
investors to purchase the Offered Certificates under applicable legal investment
or other restrictions. All institutions whose investment activities are subject
to legal investment laws and regulations, regulatory capital requirements or
review by regulatory authorities should consult with their own legal advisors in
determining whether and to what extent the Offered Certificates constitute legal
investments for them or are subject to investment, capital or other
restrictions. See "LEGAL INVESTMENT" in the Prospectus.
METHOD OF DISTRIBUTION
Subject to the terms and conditions set forth in the underwriting agreement
(the "Underwriting Agreement") between the Depositor and the Underwriters, the
Depositor has agreed to sell to Merrill Lynch, Legg Mason Wood Walker,
Incorporated, Daiwa Securities America, Inc. and each of Merrill Lynch & Co.,
Legg Mason Wood Walker, Incorporated and Daiwa Securities America, Inc. has
agreed to purchase the portion of the Class of Certificates set forth below:
CERTIFICATES UNDERWRITER PERCENTAGE PURCHASED
------------ --------------------------------
Class A-1 ................... 34% Merrill Lynch & Co.
33% Legg Mason Wood Walker, Incorporated
33% Daiwa Securities America Inc.
Class A-2 ................... 34% Merrill Lynch & Co.
33% Legg Mason Wood Walker, Incorporated
33% Daiwa Securities America Inc.
Class A-3 ................... 34% Merrill Lynch & Co.
33% Legg Mason Wood Walker, Incorporated
33% Daiwa Securities America Inc.
Class B ..................... 34% Merrill Lynch & Co.
33% Legg Mason Wood Walker, Incorporated
33% Daiwa Securities America Inc.
Class C ..................... 50% Merrill Lynch & Co.
0% Legg Mason Wood Walker, Incorporated
50% Daiwa Securities America Inc.
Class D .................... 0% Legg Mason Wood Walker, Incorporated
100% Daiwa Securities America Inc.
Class E .................... 0% Legg Mason Wood Walker, Incorporated
100% Daiwa Securities America Inc.
Class IO ................... 0% Legg Mason Wood Walker, Incorporated
100% Daiwa Securities America Inc.
In the Underwriting Agreement, the Underwriters have generally agreed to
purchase all of the Offered Certificates if any are purchased. In the event of a
default by any Underwriter, the Underwriting Agreement provides that the
purchase commitment of the non-defaulting Underwriter may be increased. Proceeds
to the Depositor from the sale of the Offered Certificates, before deducting
expenses payable by the Depositor, will be approximately $610,080,212, which
includes accrued interest.
S-90
<PAGE>
Distribution of the Offered Certificates will be made by each Underwriter
from time to time in negotiated transactions or otherwise at varying prices to
be determined at the time of sale. Each Underwriter may effect such transactions
by selling the Offered Certificates to or through dealers, and such dealers may
receive compensation in the form of underwriting discounts, concessions or
commissions from such Underwriter. In connection with the purchase and sale of
the Offered Certificates, the Underwriters may be deemed to have received
compensation from the Depositor in the form of underwriting discounts. Each
Underwriter and any dealers that participate with such Underwriter in the
distribution of the Offered Certificates may be deemed to be underwriters and
any profit on the resale of the Offered Certificates positioned by them may be
deemed to be underwriting discounts and commissions under the Securities Act.
Purchasers of the Offered Certificates, including dealers, may, depending
on the facts and circumstances of such purchases, be deemed to be "underwriters"
within the meaning of the Securities Act in connection with reoffers and sales
by them of Offered Certificates. Certificateholders should consult with their
legal advisors in this regard prior to any such reoffer or sale.
The Depositor also has been advised by the Underwriters that each of them,
through one or more of its affiliates, currently intends to make a market in the
Offered Certificates; however, each Underwriter does not have any obligation to
do so, any market making may be discontinued at any time and there can be no
assurance that an active public market for the Offered Certificates will
develop. See "RISK FACTORS--The Certificates--Limited Liquidity" herein and in
the Prospectus.
The Depositor has agreed to indemnify the Underwriters and each person, if
any, who controls such Underwriter within the meaning of Section 15 of the
Securities Act against, or make contributions to each Underwriter and each such
controlling person with respect to, certain liabilities, including liabilities
under the Securities Act.
LEGAL MATTERS
Certain legal matters will be passed upon for the Depositor by Willkie Farr
& Gallagher, New York, New York and for the Underwriters by Ballard Spahr
Andrews & Ingersoll, LLP, Philadelphia, Pennsylvania.
RATINGS
It is a condition of their issuance that the Class A-1, Class A-2 and Class
A-3 Certificates be rated not lower than "AAA" by Standard & Poor's and "Aaa" by
Moody's, that the Class IO Certificates be rated not lower than "AAAr" by
Standard & Poor's and "Aaa" by Moody's, that the Class A-PO Certificates be
rated not lower than "Aaa" by Moodys, that the Class B Certificates be rated not
lower than "AA" by Standard & Poor's and "Aa2" by Moody's, that the Class C
Certificates be rated not lower than "A" by Standard and Poor's and "A2" by
Moody's, that the Class D Certificates be rated not lower than "BBB" by Standard
and Poor's and "Baa2" by Moody's and that the Class E Certificates be rated not
lower than "BBB-" by Standard and Poor's and "Baa3" by Moody's.
The ratings on the Offered Certificates address the likelihood of timely
receipt by holders thereof of distributions of interest (other than holders of
the Class A-PO Certificates, which do not entitle the holders thereof to
distributions of interest) and principal to which they are entitled and, except
in the case of each Class of Class IO Certificates, distributions of principal
sufficient to reduce the Certificate Balance of each Class of Offered
Certificates to zero by the Rated Final Distribution Date, which is the first
Distribution Date that follows the second anniversary of the end of the
amortization term for the Mortgage Loan that, as of the Cut-Off Date, has the
longest remaining amortization term. The ratings take into consideration the
credit quality of the Mortgage Pool, structural and legal aspects associated
with the Offered Certificates, and the extent to which the payment stream from
the Mortgage Pool is adequate to make payments required under the Offered
Certificates. A security rating does not represent any assessment of (i) the
likelihood or frequency of principal prepayments on the Mortgage Loans, (ii) the
degree to which such prepayments might differ from those originally anticipated
or (iii) whether and to what extent Prepayment Premiums and Net Default Interest
will be received. Also, a security rating does not represent any assessment of
the yield to maturity that investors may experience, or the possibility that the
holders of the Class IO Certificates might
S-91
<PAGE>
not fully recover their investment in the event of rapid prepayments of the
Mortgage Loans (including both voluntary and involuntary prepayments) or the
possibility that the holders of the Class A-PO Certificates may receive a lower
than expected yield in the event of a slower than expected rate of principal
payments and prepayments on the Mortgage Loans, particularly the Discount
Mortgage Loans (including both voluntary and involuntary prepayments). As
described herein, the amounts payable with respect to the Class IO Certificates
consist only of interest. If the Mortgage Pools were to prepay in the initial
month, with the result that holders of the Class IO Certificates receive only a
single month's interest and thus suffer a nearly complete loss of their
investment, all amounts "due" to such Certificateholders will nevertheless have
been paid, and such result is consistent with the ratings received on the Class
IO Certificates. Accordingly, the ratings of the Class IO Certificates should be
evaluated independently from similar ratings on other types of securities.
There can be no assurance that any rating agency not requested to rate the
Offered Certificates will not nonetheless issue a rating to any or all Classes
thereof and, if so, what such rating or ratings would be. A rating assigned to
any Class of Offered Certificates by a rating agency that has not been requested
by the Depositor to do so may be lower than the rating assigned thereto by any
of the Rating Agencies.
Standard & Poor's assigns the additional symbol of "r" to highlight classes
of securities that Standard & Poor's believes may experience high volatility or
high variability in expected returns due to non-credit risks; however, the
absence of an "r" symbol should not be taken as an indication that a Class will
exhibit no volatility or variability in total return.
The ratings on the Offered Certificates should be evaluated independently
from similar ratings on other types of securities. A security rating is not a
recommendation to buy, sell or hold securities and may be subject to revision or
withdrawal at any time by the assigning rating agency. See "RISK
FACTORS--Limited Nature of Ratings" in the Prospectus.
S-92
<PAGE>
INDEX OF PRINCIPAL DEFINITIONS
PAGE
----
30/360 basis S-45
Accrued Certificate Interest S-19, S-69
Additional Rights S-37
Additional Trust Fund Expenses S-73
Advance S-21, S-74
AGH S-41
AGH Federal Loan S-41
AGH Federal Property S-41
AGH Main Campus Loan S-41
AGH Main Campus Properties S-41
Allegheny General Loans S-41
Allegheny General Properties S-41
Appraisal Reduction Amount S-74
Assumed Scheduled Payment S-70
Available Distribution Amount S-66
Balloon Loans S-12, S-45
Balloon Payment S-12, S-45
Bankruptcy Code S-32
Bondable Leases S-38
California Loans S-47
Capitalized Interest Reserve S-49
Casualty or Condemnation Rights S-37
CBE S-80, S-81
Certificateholders S-6, S-65
Certificates Cover, S-6, S-63
Certificate Balance S-14, S-64
Certificate Owner S-7, S-63
Certificate Registrar S-75
Circuit City Loans S-42
Circuit City Properties S-42
Class Cover, S-6, S-63
Class A-PO Fraction S-16, S-70
Class A-PO Principal Distribution Amount S-20, S-70
Code S-26
Collection Period S-65
Compensating Interest Payment S-22, S-60
Component S-64
Constant Prepayment Rate S-80, S-82
Construction Default Date S-44
Construction Loans S-8, S-44
Controlling Class Representative S-7, S-58
Controlling Class of Sequential Pay Certificates S-58
Corrected Mortgage Loan S-59
CPR S-80, S-82
Credit Lease S-8, S-36
Credit Lease Assignment S-36
Credit Lease Default S-37
Custodian S-55
Cut-Off Date S-7
Cut-Off Date Balance S-8, S-36
Daiwa Finance S-6
S-93
<PAGE>
Daiwa Securities S-6
DCR S-32
Debt Service Coverage Ratio(s) S-48
Defeasance Collateral S-12, S-45
Definitive Offered Certificate S-7, S-63
Depositor Cover
Determination Date S-65
Discount Mortgage Loan S-15, S-65
Discount Rate S-71
Distributable Certificate Interest S-18, S-69
Distribution Date S-2, S-15, S-65
Distribution Date Statement S-75
Double Net Leases S-38
Due Dates S-45
DSCR S-48
DTC S-7, S-63
Enhancement Insurer S-32
ERISA S-26, S-87
Exemption S-87
Fitch S-87
Form 8-K S-57
Fully Amortizing Loans S-12, S-45
Fred Meyer Loans S-42
Fred Meyer Properties S-42
GMAC S-58
GMACCM S-6, S-58
Guarantor S-31
Heilig-Meyers Loans S-43
Heilig-Meyers Properties S-43
Initial Pool Balance Cover, S-8, S-36
Initial Reserves at Closing S-48
IRS S-87
Insured Balloon Loan(s) S-12
Insured Balloon Payment(s) S-12, S-37
Lease Enhancement Policy S-38
Lease Guaranty S-36
Lockout Period S-13, S-45
Loan per sq. ft. S-48
Loss of Rents S-38
LMMCC S-6, S-36
Maintenance Rights S-37
Master Servicer S-58
Master Servicing Fee S-60
Master Servicing Fee Rate S-60
Merrill Lynch S-6
Modeling Assumptions S-80
Moody's S-27
Mortgage File S-55
Mortgage Loan Purchase Agreements S-55
Mortgage Loan Seller S-6
Mortgage Loans Cover
Mortgage Notes S-29
Mortgage Pool Cover
S-94
<PAGE>
Mortgage Rate(s) S-11, S-48
Mortgaged Property Cover, S-8, S-36
Net Aggregate Prepayment Interest Shortfall S-19, S-22, S-69
Net Cash Flow S-48
Net Mortgage Rate S-15, S-65
Nine West Loan S-42
Nine West Property S-42
Nonrecoverabale Advance S-74
Non-SMMEA Certificates S-28, S-89
Northewestern Loans S-43
Northwestern I Properties S-43
Northwestern II Properties S-43
Norwest Bank S-77
Offered Certificates Cover, S-6, S-63
OID Regulations S-87
Origination Leased Fee Value S-31
P&I Advance S-21
Participants S-7, S-64
Percentage Premium S-70
Periodic Payments S-71
Plan S-26, S-87
Pooling and Servicing Agreement S-14, S-63
Prepayment Premium S-70
Prepayment Interest Excess S-22, S-60
Prepayment Interest Shortfall S-22, S-60
Primary Term S-36
Principal Distribution Amount S-19, S-69
Private Estimated Rating S-46
Private Certificates S-6, S-63
Protective Advance S-73
PTE 95-60 S-89
Purchase Price S-55
Qualified Appraiser S-74
Q Clubs Loans S-42
Q Clubs Properties S-42
Quarterly Interest Reserve Account S-11, S-45
Quarterly Pay Loans S-11, S-45
Rate Differential S-71
Rating Agencies S-27
Realized Losses S-72
Recovery Fee S-61
Reimbursement Rate S-21, S-74
Related Proceeds S-74
Remaining Amort. Term S-48
REMIC S-2, S-25
REMIC Administrator S-77
REMIC Regular Certificates S-6, S-63
REMIC Residual Certificates S-6, S-63
Rental Payments S-9, S-36
REO Extension S-62
REO Loan S-70
REO Property S-24, S-59
REO Tax S-63
S-95
<PAGE>
Required Appraisal Date S-74
Required Appraisal Loan S-74
Residual Value Insurer S-32, S-37
Restricted Group S-88
Rite Aid Loans S-41
Rite Aid Properties S-41
Scenario S-82
Scheduled Payment S-70
SEC S-76
Securities Act S-6, S-63
Senior Certificates S-22, S-71
Sequential Pay Certificates S-6, S-63
Servicing Fees S-60
Servicing Standard S-57
SMMEA S-28, S-89
Special Servicer S-7, S-57
Specially Serviced Mortgage Loans S-59
Specially Serviced Trust Fund Assets S-59
Special Servicing Fee S-61
Special Servicing Fee Rate S-61
Standard & Poor's S-27
Stated Principal Balance S-15, S-65
Stated Remaining Term S-49
Subordinate Certificates S-22, S-71
Tenant(s) S-8, S-36
Tenant Balloon Loan S-12
Tenant Balloon Payment S-37
Triple Net Leases S-38
Trust Fund Cover, S-14, S-63
Trustee S-2
Trustee Fee S-77
Trustee Fee Rate S-77
Underwriters Cover
Underwriting Agreement S-90
Underwriting Reserves S-49
Underwriting Rating S-9
Voting Rights S-76
Weighted Averages S-48
Weighted Average Net Mortgage Rate S-15, S-65
Year Built S-48
Yield Maintenance Charges S-71
Zoning Laws S-47
S-96
<PAGE>
<TABLE>
<CAPTION>
Control Zip
No. Tenant Name/Guarantor (if applicable) Address City State Code
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3 Allegheny General Hospital Federal St./W.N. Ave Pittsburgh PA 15212
54 Nine West Group, Inc. 1111-1113 Westchester Ave. White Plains NY 10604
2 Allegheny General Hospital 420 East North St. Pittsburgh PA 15212
45 Home Depot U.S.A., Inc. 7200 S. Cicero Avenue Bedford Park IL 60629
4 Baptist Hospital, Inc. 2011 Murphy Nashville TN 37203
18 Fred Meyer, Inc. 8955 S/E 82nd Ave. Portland OR 97266
17 Federal Insurance Company 12 Vreeland Rd. Florham Park NJ 07932
56 Northwestern Human Services, Inc.
56a Northwestern Human Services, Inc. 9425 Stenton Ave Springfield Township PA 19038
56b Northwestern Human Services, Inc. 5126 Jack Road St. Thomas Township PA 17252
56c Northwestern Human Services, Inc. 620 Germantown Pike White Marsh Township PA 19444
56d Northwestern Human Services, Inc. 1134 N. 64th Street Philadelphia PA 19151
56e Northwestern Human Services, Inc. Box 9223, Route 209 Stroudsburg PA 18360
56f Northwestern Human Services, Inc. 1700 Freeport Road Bethel PA 17046
56g Northwestern Human Services, Inc. 1448 Karen Drive Harrisburg PA 17121
56h Northwestern Human Services, Inc. 1676 Heilmandale Road North Lebanon PA 17046
56i Northwestern Human Services, Inc. 7015 Ridge Avenue Philadelphia PA 19128
56j Northwestern Human Services, Inc. 460 Cinnaminson Street Philadelphia PA 19128
56k Northwestern Human Services, Inc. 9601 Hayden Street Philadelphia PA 19115
56l Northwestern Human Services, Inc. 3890 Woodhaven Road Philadelphia PA 19154
56m Northwestern Human Services, Inc. 5518 Pine Street Harrisburg PA 17109
56n Northwestern Human Services, Inc. 15020 Worthington Road Philadelphia PA 19116
56o Northwestern Human Services, Inc. 1043 North 67th Street Philadelphia PA 19151
56p Northwestern Human Services, Inc. 8401 Rising Sun Ave. Philadelphia PA 19111
56q Northwestern Human Services, Inc. Old Route 220 Rd. #2 Bedford Township PA 15522
56r Northwestern Human Services, Inc. 906 Bethlehem Pike Springfield Township PA 19038
56s Northwestern Human Services, Inc. 243 West Schoolhouse Lane Philadelphia PA 19144
56t Northwestern Human Services, Inc. 503 Market Street Sunbury PA 17801
56u Northwestern Human Services, Inc. 920-22 North 19th Street Philadelphia PA 19130
56v Northwestern Human Services, Inc. 5542-44 Ridge Avenue Philadelphia PA 19128
56w Northwestern Human Services, Inc. Route 3 Box 198a-2 Rockefeller Township PA 17801
56x Northwestern Human Services, Inc. 314 E. Wister Street Philadelphia PA 19144
56y Northwestern Human Services, Inc. 6100 Newtown Ave. Philadelphia PA 19111
56z Northwestern Human Services, Inc. 1 Sutherland Road Montclair NJ 08817
56aa Northwestern Human Services, Inc. 25 Burnt Tavern Road Millstone NJ 08510
56bb Northwestern Human Services, Inc. 52 Beverly Rancocas Road Willingboro NJ 08046
-------------------------------------------------------------------------------------------------------------
53 County of Monroe 50 West Main St. Rochester NY 14610
24 Health Insurance Plan of Greater New York 9610 Metropolitan Ave. Forest Hills NY 11375
57 Northwestern Human Services, Inc. Coal Township Northumberland PA 17866
19 Fred Meyer, Inc. 16600 S/E McGillivray Blvd Vancouver WA 98683
20 Fred Meyer, Inc. 20901 Highway 410 Bonney Lake WA 98390
7 Circuit City Stores, Inc. 6353 S. Semoran Blvd. Orlando FL 32801
14 Circuit City Stores, Inc. 3475 William Penn HWY Wilkins Township PA 15146
1 Allegheny Hospitals, Centennial 200 W. Lancaster Ave. Wayne PA 19087
61 Q Clubs Inc. 9800 West Atlantic Blvd. Coral Springs FL 33071
11 Circuit City Stores, Inc. 36300 Warren Rd. Westland MI 48185
62 Q Clubs Inc. 700 Pine Island Rd. Plantation FL 33324
66 Q Clubs Inc. 4600 W. Park Blvd. Plano TX 75093
49 Kmart Corp. Orchard & Clara Aves. Ukiah CA 95482
8 Circuit City Stores, Inc. 1901 Okeechobee Blvd. West Palm Beach FL 33409
65 Q Clubs Inc. 1375 East Campbell Rd. Richardson TX 75081
6 Circuit City Stores, Inc. 1505 S. Colorado Blvd. Denver CO 80210
51 Kmart Corp. 33201 Van Dyke Ave. Sterling Heights MI 48312
64 Q Clubs Inc. 3600 Emporium Circle Mesquite TX 75150
60 The Golub Corporation (Price Chopper) Lot 2, North Main St. St. Albans VT 05478
94 Rite Aid Corporation 435 Liberty St, N.E. Salem OR 97301
67 Q Clubs Inc. 7300 W. Greens Rd Willow Brook TX 77064
10 Circuit City Stores, Inc. 8405 E. Kellog St. Wichita KS 67207
12 Circuit City Stores, Inc. 4600 28th Street SE Kentwood MI 49508
59 The Golub Corporation (Price Chopper) 101 Dunning Rd. Wallkill NY 10940
13 Circuit City Stores, Inc. 7230 Market St. Boardman OH 44512
<CAPTION>
Control Mortgage Loan Seller Original Current % of Initial
No. Internal Industry Designation Property Type Balance Balance Pool Balance
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3 Non-Profit Hospital Office $67,170,088 $67,170,088 (6) 10.40%
54 Footwear Office 45,888,588 45,888,588 7.10%
2 Non-Profit Hospital Office/Garage(16) 35,357,125 35,340,416 (5) 5.47%
45 DIY Home Improvement Retail 21,214,165 21,168,827 3.28%
4 Non-Profit Hospital Office 19,791,521 19,791,521 3.06%
18 Grocery/Department Store Retail 18,306,753 18,109,170 2.80%
17 Fire/Marine Insurance Office 18,123,854 17,912,875 2.77%
56
56a Social Services Provider Other 3,426,890 3,378,050
56b Social Services Provider Other 161,825 159,519
56c Social Services Provider Other 4,673,897 4,607,285
56d Social Services Provider Other 76,153 75,068
56e Social Services Provider Other 218,940 215,820
56f Social Services Provider Other 161,825 159,519
56g Social Services Provider Other 133,268 131,369
56h Social Services Provider Other 161,825 159,519
56i Social Services Provider Other 76,153 75,068
56j Social Services Provider Other 142,787 140,752
56k Social Services Provider Other 171,344 168,902
56l Social Services Provider Other 180,864 178,286
56m Social Services Provider Other 133,268 131,369
56n Social Services Provider Other 399,804 394,106
56o Social Services Provider Other 76,153 75,068
56p Social Services Provider Other 180,864 178,286
56q Social Services Provider Other 542,591 534,858
56r Social Services Provider Other 1,684,887 1,660,875
56s Social Services Provider Other 494,995 487,941
56t Social Services Provider Other 228,459 225,203
56u Social Services Provider Other 237,978 234,587
56v Social Services Provider Other 456,919 450,407
56w Social Services Provider Other 114,230 112,602
56x Social Services Provider Other 732,974 722,527
56y Social Services Provider Other 85,672 84,451
56z Social Services Provider Other 371,246 365,955
56aa Social Services Provider Other 323,651 319,038
56bb Social Services Provider Other 590,187 581,775
--------------------------------------------------------------------------------------------
Other 16,239,650 16,008,203 (13) 2.48%
53 Government Office 15,884,014 15,884,014 2.46%
24 Health Maintenance Organization Office 15,317,704 15,309,449 2.37%
57 Social Services Provider Other 14,135,554 14,135,554 2.19%
19 Grocery/Department Store Retail 13,672,918 13,524,713 2.09%
20 Grocery/Department Store Retail 13,533,399 13,386,706 2.07%
7 Electronics Retailer Retail 12,382,779 12,121,851 1.88%
14 Electronics Retailer Retail 9,793,252 9,557,521 1.48%
1 Non-Profit Hospital Office 9,201,195 9,201,195 (4) 1.42%
61 Health Club Health Club 8,520,606 8,476,308 1.31%
11 Electronics Retailer Retail 8,453,488 8,275,356 1.28%
62 Health Club Health Club 8,260,417 8,217,471 1.27%
66 Health Club Health Club 7,628,014 7,588,357 1.17%
49 Department Store Retail 7,525,857 7,525,857 1.16%
8 Electronics Retailer Retail 7,244,475 7,091,820 1.10%
65 Health Club Health Club 7,053,785 7,017,113 1.09%
6 Electronics Retailer Retail 6,985,756 6,888,746 1.07%
51 Department Store Retail 6,816,611 6,816,611 1.06%
64 Health Club Health Club 6,581,150 6,546,935 1.01%
60 Grocery Store Retail 6,086,346 6,067,932 0.94%
94 Drug Store Retail 6,083,425 6,059,817 0.94%
67 Health Club Health Club 5,872,425 5,841,894 0.90%
10 Electronics Retailer Retail 5,813,321 5,732,593 0.89%
12 Electronics Retailer Retail 5,783,590 5,661,718 0.88%
59 Grocery Store Retail 5,599,956 5,544,666 0.86%
13 Electronics Retailer Retail 5,582,088 5,464,463 0.85%
</TABLE>
Page 1 of 9
<PAGE>
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
ANNEX A
<TABLE>
<CAPTION>
Stated Orig
Cumulative % of Orig Rem Amort
Control Initial Pool Crossed Collateralized Interest Accrual Mortgage Term Term Term
No. Balance Loans Control No. Method Rate(1) (Mos.) (Mos.) (Mos.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
3 10.40% 30/360 6.890% 256 255 256
54 17.50% 30/360 9.000% 240 228 228
2 22.97% 30/360 7.030% 235 223 235
45 26.25% 30/360 6.960% 237 235 322
4 29.31% 30/360 7.050% 280 274 268
18 32.11% 30/360 7.730% 276 268 276
17 34.88% 30/360 6.900% 177 172 177
56
56a All Control Numbers beginning with 56
56b All Control Numbers beginning with 56
56c All Control Numbers beginning with 56
56d All Control Numbers beginning with 56
56e All Control Numbers beginning with 56
56f All Control Numbers beginning with 56
56g All Control Numbers beginning with 56
56h All Control Numbers beginning with 56
56i All Control Numbers beginning with 56
56j All Control Numbers beginning with 56
56k All Control Numbers beginning with 56
56l All Control Numbers beginning with 56
56m All Control Numbers beginning with 56
56n All Control Numbers beginning with 56
56o All Control Numbers beginning with 56
56p All Control Numbers beginning with 56
56q All Control Numbers beginning with 56
56r All Control Numbers beginning with 56
56s All Control Numbers beginning with 56
56t All Control Numbers beginning with 56
56u All Control Numbers beginning with 56
56v All Control Numbers beginning with 56
56w All Control Numbers beginning with 56
56x All Control Numbers beginning with 56
56y All Control Numbers beginning with 56
56z All Control Numbers beginning with 56
56aa All Control Numbers beginning with 56
56bb All Control Numbers beginning with 56
- ------------------------------------------------------------------------------------------------------------------------------------
37.36% 30/360 7.460% 120 112 252
53 39.82% 30/360 6.640% 248 246 248
24 42.19% 30/360 8.350% 300 299 300
57 44.38% 30/360 7.140% 137 135 252
19 46.47% 30/360 7.700% 276 268 276
20 48.54% 30/360 7.700% 276 268 276
7 50.42% 30/360 7.640% 266 252 266
14 51.90% 30/360 7.640% 266 252 266
1 53.32% 30/360 7.870% 235 235 235
61 54.64% 30/360 8.760% 252 250 252
11 55.92% 30/360 7.640% 266 252 266
62 57.19% 30/360 8.760% 252 250 252
66 58.36% 30/360 8.760% 252 250 252
49 59.53% 48,50,51 30/360 7.710% 207 207 207
8 60.62% 30/360 7.640% 266 252 266
65 61.71% 30/360 8.760% 252 250 252
6 62.78% 30/360 8.610% 270 259 270
51 63.83% 48,49,50 30/360 7.790% 279 279 279
64 64.85% 30/360 8.760% 252 250 252
60 65.78% 30/360 7.950% 300 295 300
94 66.72% 30/360 6.739% 264 261 300
67 67.63% 30/360 8.760% 252 250 252
10 68.51% 30/360 8.610% 270 259 270
12 69.39% 30/360 7.640% 266 252 266
59 70.25% 30/360 7.571% 296 282 296
13 71.09% 30/360 7.640% 266 252 266
<CAPTION>
Rem
Amort
Control Term Origination Repayment Balloon/Repayment
No. (Mos.) Date Date Balance
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
3 255 01/12/98 06/10/2019 --
54 216 02/28/97 03/01/2017 --
2 223 11/21/96 10/01/2016 --
45 320 12/23/97 10/10/2017 9,853,495
4 262 09/12/97 01/10/2021 --
18 268 07/22/97 07/01/2020 --
17 172 10/01/97 07/01/2012 --
56
56a 2,393,672
56b 113,035
56c 3,264,702
56d 53,193
56e 152,929
56f 113,035
56g 93,087
56h 113,035
56i 53,193
56j 99,736
56k 119,684
56l 126,333
56m 93,087
56n 279,262
56o 53,193
56p 126,333
56q 378,998
56r 1,176,889
56s 345,753
56t 159,578
56u 166,227
56v 319,156
56w 79,789
56x 511,980
56y 59,842
56z 259,314
56aa 226,069
56bb 412,243
- -------------------------------------------------------------------------------------------------
244 06/30/97 07/05/2007 11,343,345
53 246 12/22/97 09/01/2018 --
24 299 01/30/98 02/01/2023 --
57 250 12/29/97 06/05/2009 9,895,318
19 268 06/23/97 07/01/2020 --
20 268 06/23/97 07/01/2020 --
7 252 12/30/96 03/05/2019 --
14 252 12/30/96 03/05/2019 --
1 235 12/24/97 10/10/2017 --
61 250 01/21/98 01/10/2019 --
11 252 12/30/96 03/05/2019 --
62 250 01/21/98 01/10/2019 --
66 250 01/21/98 01/10/2019 --
49 207 02/23/98 06/05/2015 --
8 252 12/30/96 03/05/2019 --
65 250 01/21/98 01/10/2019 --
6 259 03/31/97 10/05/2019 --
51 279 02/23/98 06/05/2021 --
64 250 01/21/98 01/10/2019 --
60 295 09/23/97 10/01/2022 --
94 297 11/24/97 12/10/2019 1,365,140
67 250 01/21/98 01/10/2019 --
10 259 03/31/97 10/05/2019 --
12 252 12/30/96 03/05/2019 --
59 282 12/11/96 09/01/2021 --
13 252 12/30/96 03/05/2019 --
</TABLE>
Page 2 of 9
<PAGE>
<TABLE>
<CAPTION>
Annual Annual Net
Control Prepayment Debt Rent (Before
No. Amortization Type Restrictions(2) Service Lender Reserves)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
3 Interest Only then Fully Amortizing (8) L(60),Def(196) $ 4,967,050 $ 4,967,050
54 Fully Amortizing (12) L(60),Def(180) 5,049,012 5,291,682
2 Fully Amortizing L(36),Def(199) 2,714,459 2,911,773
45 Balloon (11) L(60),Def(174),0(2) 1,747,748 1,784,051
4 Interest Only then Fully Amortizing (8) L(60),Def(220) 1,761,895 1,761,895
18 Fully Amortizing L(60),Def(216) 1,704,870 1,704,870
17 Fully Amortizing L(36),Def(71),3(70)(9) 1,751,107 1,816,750
56
56a 327,327 327,327
56b 15,457 15,457
56c 446,437 446,437
56d 7,274 7,274
56e 20,913 20,913
56f 15,457 15,457
56g 12,729 12,729
56h 15,457 15,457
56i 7,274 7,274
56j 13,639 13,639
56k 16,366 16,366
56l 17,276 17,276
56m 12,729 12,729
56n 38,188 38,188
56o 7,274 7,274
56p 17,276 17,276
56q 51,827 51,827
56r 160,936 160,936
56s 47,281 47,281
56t 21,822 21,822
56u 22,731 22,731
56v 43,644 43,644
56w 10,911 10,911
56x 70,012 70,012
56y 8,183 8,183
56z 35,460 35,460
56aa 30,914 30,914
56bb 56,373 56,373
- ------------------------------------------------------------------------------------------------------------------------------
Balloon (14) L(60),Def(60) 1,551,165 1,551,165
53 Interest Only then Fully Amortizing (8) L(60),Def(188) 1,440,919 1,505,553
24 Fully Amortizing L(60),Def(240) 1,378,090 1,635,500
57 Interest Only then Balloon (8) (14) L(60),Def(77) 1,308,498 1,308,498
19 Fully Amortizing L(60),Def(216) 1,270,178 1,270,178
20 Fully Amortizing L(60),Def(216) 1,257,217 1,257,217
7 Fully Amortizing L(60),Def(200),0(6) 1,160,589 1,161,489
14 Fully Amortizing L(60),Def(200),0(6) 915,071 915,971
1 Interest Only then Fully Amortizing (7) L(60),Def(175) 754,400 754,400
61 Fully Amortizing L(36),Def(216) 886,374 886,374
11 Fully Amortizing L(60),Def(200),0(6) 792,312 793,212
62 Fully Amortizing L(36),Def(216) 859,307 859,307
66 Fully Amortizing L(36),Def(216) 793,520 793,520
49 Fully Amortizing L(36),Def(171) 790,104 798,108
8 Fully Amortizing L(60),Def(200),0(6) 678,996 679,896
65 Fully Amortizing L(36),Def(216) 733,785 733,785
6 Fully Amortizing L(60),Def(204),0(6) 703,560 703,560
51 Fully Amortizing L(36),Def(243) 635,505 643,374
64 Fully Amortizing L(36),Def(216) 684,618 684,618
60 Fully Amortizing L(60),Def(240) 527,475 527,475
94 Balloon (11) L(60),Def(204) 503,866 503,866
67 Fully Amortizing L(36),Def(216) 610,891 610,891
10 Fully Amortizing L(60),Def(204),0(6) 585,480 585,480
12 Fully Amortizing L(60),Def(200),0(6) 542,073 542,973
59 Fully Amortizing L(36),Def(260) 469,451 471,251
13 Fully Amortizing L(60),Def(200),0(6) 523,187 524,087
<CAPTION>
Minimum Stabilized Tenant/Guarantor
Control Debt Service Coverage Year Square Loan per Rating(17) Lease Lease Lease
No. (Net of Lender Reserves)(3) Built Footage Sq Ft S&P Moody's Start Date Exp Date Type
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
3 1.00 1998 200,000 335.85 A A3 01/12/1998 08/31/2019 Bondable
54 1.05 1985 366,460 125.22 BB Ba2 02/28/1997 02/28/2022 Bondable
2 1.07 1986 66,629 530.41 A A3 11/19/1996 11/30/2016 Bondable
45 1.01 1992 217,952 97.13 12/23/1997 09/25/2017 Double Net
4 1.00 1998 165,920 119.28 AA Aa1 07/25/1997 12/31/2020 Bondable
18 1.00 1991 185,612 97.56 BB+ Ba2 06/30/1997 06/30/2020 Bondable
17 1.04 1985 139,750 128.18 AAA Aaa 10/23/1996 06/15/2012 Triple Net
56
56a 1990 23,389 144.43
56b 1932 1,836 86.88
56c 1995 22,621 203.67
56d 1952 1,584 47.39
56e 1961 1,690 127.70
56f 1963 1,134 140.67
56g 1963 1,544 85.08
56h 1978 2,422 65.86
56i 1968 1,008 74.47
56j 1958 1,172 120.10
56k 1968 1,629 103.68
56l 1958 1,653 107.86
56m 1963 1,718 76.47
56n 1996 2,009 196.17
56o 1958 1,244 60.34
56p 1953 1,728 103.17
56q 1972 10,836 49.36
56r 1980 15,900 104.46
56s 1906 5,552 87.89
56t 1997 5,250 42.90
56u 1890 5,268 44.53
56v 1971 4,518 99.69
56w 1993 1,661 67.79
56x 1896 5,806 124.44
56y 1952 1,122 75.27
56z 1919 3,596 101.77
56aa 1820 3,489 91.44
56bb 1975 6,400 90.90
- ------------------------------------------------------------------------------------------------------------------------------------
1.00 N/A 137,779 115.62 BBB 06/30/1997 06/29/2017 Bondable
53 1.02 1998 273,737 58.03 AA Aa2 06/16/1997 06/16/2017 Triple Net
24 1.15 1971 48,900 313.08 BB 06/07/1996 06/06/2026 Double Net
57 1.00 1998 99,825 141.60 BBB 12/29/1997 05/31/2019 Bondable
19 1.00 1994 165,602 81.67 BB+ Ba2 06/30/1997 06/30/2020 Bondable
20 1.00 1994 166,138 80.58 BB+ Ba2 06/30/1997 06/30/2020 Bondable
7 1.00 1996 59,261 204.55 12/30/1996 03/31/2019 Bondable
14 1.00 1996 42,364 225.60 12/30/1996 03/31/2019 Bondable
1 1.00 1960 43,394 212.04 BB 12/23/1997 12/31/2017 Bondable
61 1.00 1996 47,385 178.88 01/21/1998 01/31/2019 Bondable
11 1.00 1996 63,755 129.80 12/30/1996 03/31/2019 Bondable
62 1.00 1996 47,385 173.42 01/21/1998 01/31/2019 Bondable
66 1.00 1995 46,716 162.44 01/21/1998 01/31/2019 Bondable
49 1.01 1997 91,256 82.47 BB Ba3 02/23/1998 05/31/2015 Bondable
8 1.00 1996 45,961 154.30 12/30/1996 03/31/2019 Bondable
65 1.00 1995 47,310 148.32 01/21/1998 01/31/2019 Bondable
6 1.00 1996 39,552 174.17 03/31/1997 09/30/2019 Bondable
51 1.01 1996 171,962 39.64 BB Ba3 02/23/1998 05/31/2021 Bondable
64 1.00 1995 46,658 140.32 01/21/1998 01/31/2019 Bondable
60 1.01 1998 54,100 112.16 07/14/1997 09/30/2022 Triple Net
94 1.00 1962 52,383 115.68 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
67 1.00 1994 46,773 124.90 01/21/1998 01/31/2019 Bondable
10 1.00 1997 38,987 147.04 03/31/1997 09/30/2019 Bondable
12 1.00 1996 39,264 144.20 12/30/1996 03/31/2019 Bondable
59 1.01 1993 63,360 87.51 08/15/1996 08/31/2021 Bondable
13 1.00 1996 32,937 165.91 12/30/1996 03/31/2019 Bondable
</TABLE>
Page 3 of 9
<PAGE>
<TABLE>
<CAPTION>
Control Zip
No. Tenant Name/Guarantor (if applicable) Address City State Code
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
48 Kmart Corp. 310 Gardner Field Rd Taft CA 93268
9 Circuit City Stores, Inc. 4483 US Route 14 Crystal Lake IL 60014
83 Rite Aid Corporation 8530 W. Lake Mead Blvd. Las Vegas NV 89128
21 Giant Food, Inc. 11200 Main Street Fairfax VA 22030
68 Rite Aid Corporation 1175 Second Street Brentwood CA 94513
58 Office Depot, Inc. 7420-7444 Brook Park Rd. Brooklyn OH 44134
82 Rite Aid Corporation 160 Washington Ave. Carteret NJ 07008
106 Rite Aid Corporation 5606 Summitview Ave. Yakima WA 98908
69 Rite Aid Corporation 8585 Elk Grove Blvd. Elk Grove CA 95624
76 Rite Aid Corporation 2809 E. Cleveland Blvd. Caldwell ID 83605
55 Northwestern Human Services, Inc.
55a Northwestern Human Services, Inc. 35 East High Street Philadelphia PA 19144
55b Northwestern Human Services, Inc. 235-37 West Schoolhouse Lane Philadelphia PA 19144
55c Northwestern Human Services, Inc. 5701 Thomas Ave. Philadelphia PA 19143
55d Northwestern Human Services, Inc. 3823 Garrett Road Upper Darby PA 19026
55e Northwestern Human Services, Inc. 26 Red Rowan Lane Plymouth Meeting PA 19462
55f Northwestern Human Services, Inc. 1237 Tyson Street Philadelphia PA 19111
55g Northwestern Human Services, Inc. Road 2, Box 283R Sunbury PA 18360
55h Northwestern Human Services, Inc. Road 2, Box 396 Sunbury PA 17801
55i Northwestern Human Services, Inc. 9009 Cargill Lane Philadelphia PA 19115
55j Northwestern Human Services, Inc. 17 North Wayne Street Lewistown PA 17044
55k Northwestern Human Services, Inc. 1616 Gregg Street Philadelphia PA 19115
- -----------------------------------------------------------------------------------------------------------------------
52 The Times Mirror Company 23252 Moulton Pkwy. Laguna Hills CA 92653
84 Rite Aid Corporation 400 Suffolk Ave. Brentwood NY 11717
5 Baptist Hospital, Inc. 360 Wallace Rd. Nashville TN 37211
74 Rite Aid Corporation 1123 Donner Pass Road Truckee CA 96161
98 Rite Aid Corporation 3460 S. 5600 West West Valley UT 84120
104 Rite Aid Corporation 700 S. Main Street Ellensburg WA 98926
15 Circuit City Stores, Inc. 3423 Clemson Blvd. Anderson SC 29621
70 Rite Aid Corporation 1935 N. Street Newman CA 95360
28 Heilig-Meyers Company 415 S. Roosevelt Ave. Burlington IA 52601
85 Rite Aid Corporation 2532-54 86th St. Brooklyn NY 11214
113 Time Warner Entertainment, L.P. US Highway 92 Auburndale FL 33610
50 Kmart Corp. 375 E. Allesandro Blvd. Riverside CA 92508
92 Rite Aid Corporation 27299 Chagrin Boulevard Woodmere OH 44122
101 Rite Aid Corporation 1660 Independence Blvd. Virginia Beach VA 23455
75 Rite Aid Corporation 1271 Main St. Watertown CT 06795
79 Rite Aid Corporation 27050 John R. Road Madison Hgts. MI 48091
90 Rite Aid Corporation Salem & Grand Ave. Dayton OH 45406
111 Rite Aid Corporation 10-20 West Main Street Landsdale PA 19446
95 Rite Aid Corporation 5100 Library Road Bethel Park PA 15102
89 Rite Aid Corporation E. 71st & Harvard Cleveland OH 44105
91 Rite Aid Corporation 34321 Center Ridge Road N. Ridgeville OH 44039
99 Rite Aid Corporation 2917 Brandon Ave, S.W. Roanoke VA 24015
105 Rite Aid Corporation 1630 Grand Ave. Pullman WA 99163
96 Rite Aid Corporation 5400 Rising Sun Avenue Philadelphia PA 19120
86 Rite Aid Corporation Rt 9 W. & Cauterskill Catskill NY 12414
25 Heilig-Meyers Company 3215 Fairview Dr. Antioch CA 94509
93 Rite Aid Corporation 90 "B" Avenue Lake Oswego OR 97034
100 Rite Aid Corporation 1500 W. Beverly St. Staunton VA 24401
81 Rite Aid Corporation 86 Elm St. Milford NH 03055
77 Rite Aid Corporation 204 Park Ave. Carrolton KY 41008
88 Rite Aid Corporation 2 Central Ave. Ravena NY 12143
78 Rite Aid Corporation 308 Parkway Dr. Salyersville KY 41465
80 Rite Aid Corporation 416 Daniel Webster HWY Merrimack NH 03054
33 Heilig-Meyers Company 6910 Fairview Ave. Boise ID 83704
97 Rite Aid Corporation 507 W. Elk Ave. Elizbethton TN 37643
43 Heilig-Meyers Company 7520 N Division St. North Spokane WA 99208
102 Rite Aid Corporation 9 Susie Wilson Rd. Essex Junction VT 05451
87 Rite Aid Corporation SEC Rt 9 & 11 Champlain NY 12919
16 Eckerd Corp. 414 Atlantic Blvd. Neptune Beach FL 32266
110 Rite Aid Corporation 5 Saco Ave. Old Orchard Beach ME 04064
41 Heilig-Meyers Company 3540 Commercial St., SE Salem OR 97302
38 Heilig-Meyers Company 14255 SW Pacific HWY Tigard OR 97224
39 Heilig-Meyers Company 201 Division Avenue Eugene OR 97404
40 Heilig-Meyers Company 6101 Tualatin Valley Hwy Hillsboro OR 97123
108 Rite Aid Corporation 4580 Liberty Ave. Vermilion OH 44089
<CAPTION>
Control Mortgage Loan Seller Original Current % of Initial
No. Internal Industry Designation Property Type Balance Balance Pool Balance
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
48 Department Store Retail 5,386,097 5,386,097 0.83%
9 Electronics Retailer Retail 5,080,549 5,009,997 0.78%
83 Drug Store Retail 4,986,414 4,967,063 0.77%
21 Grocery Store Retail 4,768,979 4,719,750 0.73%
68 Drug Store Retail 4,687,230 4,669,040 0.72%
58 Retail-Office Supplies Retail 4,503,933 4,488,421 0.69%
82 Drug Store Retail 4,288,316 4,271,674 0.66%
106 Drug Store Retail 4,188,588 4,172,333 0.65%
69 Drug Store Retail 4,088,860 4,072,992 0.63%
76 Drug Store Retail 3,989,132 3,973,651 0.62%
55
55a Social Services Provider Other 210,924 209,085
55b Social Services Provider Other 1,227,192 1,216,497
55c Social Services Provider Other 642,358 636,760
55d Social Services Provider Other 834,107 826,838
55e Social Services Provider Other 182,161 180,574
55f Social Services Provider Other 153,399 152,062
55g Social Services Provider Other 124,637 123,550
55h Social Services Provider Other 134,224 133,054
55i Social Services Provider Other 201,336 199,582
55j Social Services Provider Other 76,700 76,031
55k Social Services Provider Other 172,574 171,070
- ------------------------------------------------------------------------------------------------------------
Other 3,959,612 3,925,104 (13) 0.61%
52 Newspaper Publisher Office/Warehouse 3,594,669 3,578,055 0.55%
84 Drug Store Retail 3,590,218 3,576,286 0.55%
5 Non-Profit Hospital Office 3,455,826 3,449,962 0.53%
74 Drug Store Retail 3,390,762 3,377,604 0.52%
98 Drug Store Retail 3,390,762 3,377,604 0.52%
104 Drug Store Retail 3,390,762 3,377,604 0.52%
15 Electronics Retailer Retail 3,415,934 3,343,954 0.52%
70 Drug Store Retail 3,291,034 3,278,263 0.51%
28 Retail Furniture Retail 3,210,277 3,175,950 0.49%
85 Drug Store Retail 3,091,577 3,079,579 0.48%
113 Cable/Entertainment Office 3,055,623 3,055,623 0.47%
50 Department Store Retail 3,046,792 3,046,792 0.47%
92 Drug Store Retail 3,041,713 3,029,909 0.47%
101 Drug Store Retail 2,888,400 2,880,897 0.45%
75 Drug Store Retail 2,892,121 2,880,897 0.45%
79 Drug Store Retail 2,842,257 2,831,227 0.44%
90 Drug Store Retail 2,742,529 2,731,886 0.42%
111 Drug Store Retail 2,695,733 2,688,538 0.42%
95 Drug Store Retail 2,637,814 2,627,577 0.41%
89 Drug Store Retail 2,617,868 2,607,708 0.40%
91 Drug Store Retail 2,617,868 2,607,708 0.40%
99 Drug Store Retail 2,592,935 2,582,873 0.40%
105 Drug Store Retail 2,592,935 2,582,873 0.40%
96 Drug Store Retail 2,558,030 2,548,103 0.39%
86 Drug Store Retail 2,443,343 2,433,861 0.38%
25 Retail Furniture Retail 2,429,325 2,403,348 0.37%
93 Drug Store Retail 2,393,479 2,384,190 0.37%
100 Drug Store Retail 2,393,479 2,384,190 0.37%
81 Drug Store Retail 2,343,615 2,334,520 0.36%
77 Drug Store Retail 2,293,751 2,284,849 0.35%
88 Drug Store Retail 2,094,295 2,086,167 0.32%
78 Drug Store Retail 2,074,349 2,066,299 0.32%
80 Drug Store Retail 2,044,429 2,036,495 0.32%
33 Retail Furniture Retail 2,033,757 2,012,010 0.31%
97 Drug Store Retail 1,934,729 1,927,221 0.30%
43 Retail Furniture Retail 1,935,016 1,914,325 0.30%
102 Drug Store Retail 1,914,783 1,907,352 0.30%
87 Drug Store Retail 1,894,837 1,887,484 0.29%
16 Drug Store Retail 1,887,403 1,876,468 0.29%
110 Drug Store Retail 1,873,831 1,826,133 0.28%
41 Retail Furniture Retail 1,733,185 1,714,652 0.27%
38 Retail Furniture Retail 1,710,154 1,691,867 0.26%
39 Retail Furniture Retail 1,710,154 1,691,867 0.26%
40 Retail Furniture Retail 1,710,154 1,691,867 0.26%
108 Drug Store Retail 1,711,903 1,689,673 0.26%
</TABLE>
Page 4 of 9
<PAGE>
<TABLE>
<CAPTION>
Stated Orig
Cumulative % of Orig Rem Amort
Control Initial Pool Crossed Collateralized Interest Accrual Mortgage Term Term Term
No. Balance Loans Control No. Method Rate(1) (Mos.) (Mos.) (Mos.)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
48 71.93% 49,50,51 30/360 7.810% 300 300 300
9 72.70% 30/360 8.610% 270 259 270
83 73.47% 30/360 6.739% 264 261 300
21 74.20% 30/360 7.620% 300 291 300
68 74.93% 30/360 6.739% 264 261 300
58 75.62% 30/360 8.818% 238 229 238
82 76.28% 30/360 6.739% 264 261 300
106 76.93% 30/360 6.739% 264 261 300
69 77.56% 30/360 6.739% 264 261 300
76 78.17% 30/360 6.739% 264 261 300
55
55a All Control Numbers beginning with 55
55b All Control Numbers beginning with 55
55c All Control Numbers beginning with 55
55d All Control Numbers beginning with 55
55e All Control Numbers beginning with 55
55f All Control Numbers beginning with 55
55g All Control Numbers beginning with 55
55h All Control Numbers beginning with 55
55i All Control Numbers beginning with 55
55j All Control Numbers beginning with 55
55k All Control Numbers beginning with 55
- ----------------------------------------------------------------------------------------------------------------------------------
78.78% 30/360 7.400% 120 115 252
52 79.33% 30/360 6.630% 160 158 160
84 79.89% 30/360 6.739% 264 261 300
5 80.42% 30/360 6.570% 264 263 264
74 80.94% 30/360 6.739% 264 261 300
98 81.47% 30/360 6.739% 264 261 300
104 81.99% 30/360 6.739% 264 261 300
15 82.51% 30/360 7.640% 266 252 266
70 83.02% 30/360 6.739% 264 261 300
28 83.51% 30/360 7.480% 264 257 264
85 83.98% 30/360 6.739% 264 261 300
113 84.46% 30/360 7.360% 185 180 179
50 84.93% 48,49,51 30/360 7.800% 285 285 285
92 85.40% 30/360 6.739% 264 261 300
101 85.84% 30/360 6.739% 263 261 300
75 86.29% 30/360 6.739% 264 261 300
79 86.73% 30/360 6.739% 264 261 300
90 87.15% 30/360 6.739% 264 261 300
111 87.57% 30/360 7.670% 246 238 240
95 87.97% 30/360 6.739% 264 261 300
89 88.38% 30/360 6.739% 264 261 300
91 88.78% 30/360 6.739% 264 261 300
99 89.18% 30/360 6.739% 264 261 300
105 89.58% 30/360 6.739% 264 261 300
96 89.97% 30/360 6.739% 264 261 300
86 90.35% 30/360 6.739% 264 261 300
25 90.72% 30/360 7.480% 264 257 264
93 91.09% 30/360 6.739% 264 261 300
100 91.46% 30/360 6.739% 264 261 300
81 91.82% 30/360 6.739% 264 261 300
77 92.18% 30/360 6.739% 264 261 300
88 92.50% 30/360 6.739% 264 261 300
78 92.82% 30/360 6.739% 264 261 300
80 93.13% 30/360 6.739% 264 261 300
33 93.44% 30/360 7.480% 264 257 264
97 93.74% 30/360 6.739% 264 261 300
43 94.04% 30/360 7.480% 264 257 264
102 94.33% 30/360 6.739% 264 261 300
87 94.63% 30/360 6.739% 264 261 300
16 94.92% 30/360 7.190% 223 220 223
110 95.20% 30/360 7.620% 238 225 238
41 95.47% 30/360 7.480% 264 257 264
38 95.73% 30/360 7.480% 264 257 264
39 95.99% 30/360 7.480% 264 257 264
40 96.25% 30/360 7.480% 264 257 264
108 96.51% 30/360 7.050% 264 256 264
<CAPTION>
Rem
Amort
Control Term Origination Repayment Balloon/Repayment
No. (Mos.) Date Date Balance
- ----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
48 300 02/23/98 03/05/2023 --
9 259 03/31/97 10/05/2019 --
83 297 11/24/97 12/10/2019 1,118,967
21 291 05/22/97 06/01/2022 --
68 297 11/24/97 12/10/2019 1,051,829
58 229 05/29/97 04/01/2017 --
82 297 11/24/97 12/10/2019 962,312
106 297 11/24/97 12/10/2019 939,932
69 297 11/24/97 12/10/2019 917,553
76 297 11/24/97 12/10/2019 895,174
55
55a 148,330
55b 863,013
55c 451,733
55d 586,579
55e 128,103
55f 107,877
55g 87,650
55h 94,392
55i 141,588
55j 53,938
55k 121,361
- ----------------------------------------------------------------------------------------------
247 09/30/97 10/05/2007 2,784,564
52 158 12/04/97 05/01/2011 --
84 297 11/24/97 12/10/2019 805,656
5 263 01/22/98 02/10/2020 --
74 297 11/24/97 12/10/2019 760,898
98 297 11/24/97 12/10/2019 760,898
104 297 11/24/97 12/10/2019 760,898
15 252 12/30/96 03/05/2019 --
70 297 11/24/97 12/10/2019 738,518
28 257 08/06/97 08/10/2019 --
85 297 11/24/97 12/10/2019 693,760
113 174 10/24/97 03/10/2013 --
50 285 02/23/98 12/05/2021 --
92 297 11/24/97 12/10/2019 682,570
101 298 11/24/97 12/10/2019 649,001
75 297 11/24/97 12/10/2019 649,001
79 297 11/24/97 12/10/2019 637,811
90 297 11/24/97 12/10/2019 615,432
111 232 06/27/97 01/01/2018 --
95 297 11/24/97 12/10/2019 591,934
89 297 11/24/97 12/10/2019 587,458
91 297 11/24/97 12/10/2019 587,458
99 297 11/24/97 12/10/2019 581,863
105 297 11/24/97 12/10/2019 581,863
96 297 11/24/97 12/10/2019 574,030
86 297 11/24/97 12/10/2019 548,294
25 257 08/25/97 08/10/2019 --
93 297 11/24/97 12/10/2019 537,104
100 297 11/24/97 12/10/2019 537,104
81 297 11/24/97 12/10/2019 525,915
77 297 11/24/97 12/10/2019 514,725
88 297 11/24/97 12/10/2019 469,966
78 297 11/24/97 12/10/2019 465,490
80 297 11/24/97 12/10/2019 458,776
33 257 08/06/97 08/10/2019 --
97 297 11/24/97 12/10/2019 434,159
43 257 08/06/97 08/10/2019 --
102 297 11/24/97 12/10/2019 429,683
87 297 11/24/97 12/10/2019 425,207
16 220 12/15/97 07/01/2016 --
110 225 02/07/97 12/01/2016 --
41 257 08/06/97 08/10/2019 --
38 257 08/25/97 08/10/2019 --
39 257 08/06/97 08/10/2019 --
40 257 08/25/97 08/10/2019 --
108 256 08/01/97 07/10/2019 --
</TABLE>
Page 5 of 9
<PAGE>
<TABLE>
<CAPTION>
Annual Annual Net
Control Prepayment Debt Rent (Before
No. Amortization Type Restrictions(2) Service Lender Reserves)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
48 Fully Amortizing L(36),Def(264) 490,742 497,089
9 Fully Amortizing L(60),Def(204),0(6) 511,680 511,680
83 Balloon (11) L(60),Def(204) 413,005 413,005
21 Fully Amortizing L(60),Def(120),<5%(116),0(4)(10) 427,385 580,000
68 Balloon (11) L(60),Def(204) 388,225 388,225
58 Fully Amortizing L(60),Def(178) 417,226 434,913
82 Balloon (11) L(60),Def(204) 355,184 355,184
106 Balloon (11) L(60),Def(204) 346,924 346,924
69 Balloon (11) L(60),Def(204) 338,664 338,664
76 Balloon (11) L(60),Def(204) 330,404 330,404
55
55a 19,966 19,966
55b 116,166 116,166
55c 60,806 60,806
55d 78,957 78,957
55e 17,243 17,243
55f 14,521 14,521
55g 11,798 11,798
55h 12,706 12,706
55i 19,059 19,059
55j 7,260 7,260
55k 16,336 16,336
- ---------------------------------------------------------------------------------------------------------------------------
Balloon (14) L(60),Def(60) 374,817 374,817
52 Fully Amortizing L(60),Def(100) 337,740 351,202
84 Balloon (11) L(60),Def(204) 297,364 297,364
5 Fully Amortizing L(60),Def(204) 297,410 297,410
74 Balloon (11) L(60),Def(204) 280,843 280,843
98 Balloon (11) L(60),Def(204) 280,843 280,843
104 Balloon (11) L(60),Def(204) 280,843 280,843
15 Fully Amortizing L(60),Def(200),0(6) 320,162 321,062
70 Balloon (11) L(60),Def(204) 272,583 272,583
28 Fully Amortizing L(60),Def(204) 297,884 297,884
85 Balloon (11) L(60),Def(204) 256,063 256,063
113 Interest Only then Fully Amortizing(8) L(60),Def(125) 338,035 361,697
50 Fully Amortizing L(36),Def(249) 282,173 285,712
92 Balloon (11) L(60),Def(204) 251,933 251,933
101 Balloon (11) L(60),Def(203) 239,543 239,543
75 Balloon (11) L(60),Def(204) 239,543 239,543
79 Balloon (11) L(60),Def(204) 235,413 235,413
90 Balloon (11) L(60),Def(204) 227,153 227,153
111 Fully Amortizing (15) L(60),Def(186) 237,643 245,960
95 Balloon (11) L(60),Def(204) 218,480 218,480
89 Balloon (11) L(60),Def(204) 216,828 216,828
91 Balloon (11) L(60),Def(204) 216,828 216,828
99 Balloon (11) L(60),Def(204) 214,763 214,763
105 Balloon (11) L(60),Def(204) 214,763 214,763
96 Balloon (11) L(60),Def(204) 211,872 211,872
86 Balloon (11) L(60),Def(204) 202,372 202,372
25 Fully Amortizing L(60),Def(204) 225,419 225,419
93 Balloon (11) L(60),Def(204) 198,242 198,242
100 Balloon (11) L(60),Def(204) 198,242 198,242
81 Balloon (11) L(60),Def(204) 194,112 194,112
77 Balloon (11) L(60),Def(204) 189,982 189,982
88 Balloon (11) L(60),Def(204) 173,462 173,462
78 Balloon (11) L(60),Def(204) 171,810 171,810
80 Balloon (11) L(60),Def(204) 169,332 169,332
33 Fully Amortizing L(60),Def(204) 188,714 188,714
97 Balloon (11) L(60),Def(204) 160,246 160,246
43 Fully Amortizing L(60),Def(204) 179,551 179,551
102 Balloon (11) L(60),Def(204) 158,594 158,594
87 Balloon (11) L(60),Def(204) 156,942 156,942
16 Fully Amortizing L(60),Def(163) 178,037 180,986
110 Fully Amortizing L(36),Def(202) 183,261 193,973
41 Fully Amortizing L(60),Def(204) 160,823 160,823
38 Fully Amortizing L(60),Def(204) 158,686 158,686
39 Fully Amortizing L(60),Def(204) 158,686 158,686
40 Fully Amortizing L(60),Def(204) 158,686 158,686
108 Fully Amortizing L(60),Def(204) 153,354 153,352
<CAPTION>
Minimum Stabilized Tenant/Guarantor
Control Debt Service Coverage Year Square Loan per Rating(17) Lease Lease Lease
No. (Net of Lender Reserves)(3) Built Footage Sq Ft S&P Moody's Start Date Exp Date Type
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
48 1.01 1994 90,852 59.28 BB Ba3 02/23/1998 08/31/2024 Bondable
9 1.00 1996 32,216 155.51 -- -- 03/31/1997 09/30/2019 Bondable
83 1.00 1992 31,793 156.23 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
21 1.36 1976 60,547 77.95 -- -- 07/19/1994 12/31/2025 Triple Net
68 1.00 1991 31,483 148.30 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
58 1.01 1997 35,040 128.09 BB+ Baa2 03/25/1997 03/31/2017 Double Net
82 1.00 1997 15,000 284.78 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
106 1.00 1983 30,074 138.74 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
69 1.00 1986 29,913 136.16 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
76 1.00 1993 28,309 140.37 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
55
55a 1924 3,524 59.33
55b 1924 12,275 99.10
55c 1997 7,927 80.33
55d 1977 12,536 65.96
55e 1957 2,212 81.63
55f 1932 1,640 92.72
55g 1977 1,248 99.00
55h 1967 1,568 84.86
55i 1957 2,088 95.59
55j 1917 2,298 33.09
55k 1957 1,715 99.75
- ------------------------------------------------------------------------------------------------------------------------------------
1.00 N/A 49,031 80.05 BBB -- 09/30/1997 09/29/2017 Bondable
52 1.04 1996 20,140 177.66 A+ A2 04/29/1996 04/28/2011 Double Net
84 1.00 1997 10,752 332.62 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
5 1.00 1993 14,000 246.43 AA- Aa1 01/22/1998 01/31/2020 Bondable
74 1.00 1991 21,870 154.44 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
98 1.00 1993 27,868 121.20 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
104 1.00 1993 27,704 121.92 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
15 1.00 1996 27,789 120.33 -- -- 12/30/1996 03/31/2019 Bondable
70 1.00 1994 20,162 162.60 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
28 1.00 1991 54,661 58.10 BB+ Ba1 08/06/1997 08/31/2019 Bondable
85 1.00 1997 10,658 288.95 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
113 1.07 1998 33,800 90.40 BBB- Baa3 10/15/1997 03/10/2013 Bondable
50 1.01 1991 104,231 29.23 BB Ba3 02/23/1998 11/30/2021 Bondable
92 1.00 1997 10,752 281.80 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
101 1.00 1997 11,073 260.17 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
75 1.00 1997 11,325 254.38 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
79 1.00 1997 11,060 255.99 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
90 1.00 1997 10,572 258.41 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
111 1.04 1997 11,180 240.48 BBB+ Baa1 12/18/1996 01/01/2018 Triple Net
95 1.00 1997 11,203 234.54 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
89 1.00 1997 10,800 241.45 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
91 1.00 1997 10,752 242.53 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
99 1.00 1997 11,166 231.32 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
105 1.00 1986 21,255 121.52 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
96 1.00 1997 11,146 228.61 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
86 1.00 1997 11,064 219.98 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
25 1.00 1991 43,722 54.97 BB+ Ba1 08/06/1997 08/31/2019 Bondable
93 1.00 1992 15,045 158.47 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
100 1.00 1997 10,662 223.62 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
81 1.00 1997 11,180 208.81 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
77 1.00 1997 10,752 212.50 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
88 1.00 1997 11,050 188.79 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
78 1.00 1997 11,174 184.92 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
80 1.00 1997 11,288 180.41 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
33 1.00 1972 50,070 40.18 BB+ Ba1 08/06/1997 08/31/2019 Bondable
97 1.00 1997 11,072 174.06 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
43 1.00 1981 40,000 47.86 BB+ Ba1 08/06/1997 08/31/2019 Bondable
102 1.00 1997 10,980 173.71 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
87 1.00 1997 11,065 170.58 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
16 1.02 1996 10,882 172.44 A -- 06/28/1996 06/27/2016 Triple Net
110 1.05 1986 11,058 165.14 BBB+ Baa1 04/18/1996 12/08/2016 Double Net
41 1.00 1970 41,136 41.68 BB+ Ba1 08/06/1997 08/31/2019 Bondable
38 1.00 1985 32,911 51.41 BB+ Ba1 08/06/1997 08/31/2019 Bondable
39 1.00 1984 39,215 43.14 BB+ Ba1 08/06/1997 08/31/2019 Bondable
40 1.00 1985 40,086 42.21 BB+ Ba1 08/06/1997 08/31/2019 Bondable
108 1.00 1986 11,335 149.07 BBB+ Baa1 06/30/1997 06/30/2019 Bondable
</TABLE>
Page 6 of 9
<PAGE>
<TABLE>
<CAPTION>
Control Zip
No. Tenant Name/Guarantor (if applicable) Address City State Code
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
112 Rite Aid Corporation 1936 Van Vranken Ave. Schenectady NY 12308
29 Heilig-Meyers Company 2514 Westdale Dr., SW Cedar Rapids IA 52404
103 Rite Aid Corporation US Rt 7 Middlebury VT 05753
42 Heilig-Meyers Company 7407 NE Vancouver Plaza Vancouver WA 98662
35 Heilig-Meyers Company 255 South 36th Street Quincy IL 62301
34 Heilig-Meyers Company 1900 52nd Ave. Moline IL 61265
109 Rite Aid Corporation 939 US 31 South Traverse City MI 49684
31 Heilig-Meyers Company 4141 Mirage Ridge Waterloo IA 50701
30 Heilig-Meyers Company 150 John F. Kennedy Rd. Dubuque IA 52002
27 Heilig-Meyers Company 5455 Mountainview Dr. Redding CA 96003
32 Heilig-Meyers Company 1763 Filmore St. Twin Falls ID 83301
107 Rite Aid Corporation 3175 W. DuPont Ave Belle WV 25015
44 Heilig-Meyers Company South 1807 First St. Yakima WA 98901
26 Heilig-Meyers Company 700 Sereno Drive Vallejo CA 94589
37 Heilig-Meyers Company 1444 Grand Ave Billings MT 59102
36 Heilig-Meyers Company 10530 Airline HWY Baton Rouge LA 70816
- -----------------------------------------------------------------------------------------------------------------------
<CAPTION>
Control Mortgage Loan Seller Original Current % of Initial
No. Internal Industry Designation Property Type Balance Balance Pool Balance
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
112 Drug Store Retail 1,706,228 1,681,246 0.26%
29 Retail Furniture Retail 1,685,309 1,667,289 0.26%
103 Drug Store Retail 1,645,517 1,639,131 0.25%
42 Retail Furniture Retail 1,654,060 1,636,373 0.25%
35 Retail Furniture Retail 1,653,642 1,635,960 0.25%
34 Retail Furniture Retail 1,632,776 1,615,317 0.25%
109 Drug Store Retail 1,623,156 1,575,115 0.24%
31 Retail Furniture Retail 1,583,928 1,566,991 0.24%
30 Retail Furniture Retail 1,515,188 1,498,987 0.23%
27 Retail Furniture Retail 1,306,136 1,292,170 0.20%
32 Retail Furniture Retail 1,282,274 1,268,563 0.20%
107 Drug Store Retail 1,246,603 1,241,766 0.19%
44 Retail Furniture Retail 1,242,910 1,229,619 0.19%
26 Retail Furniture Retail 1,242,749 1,229,461 0.19%
37 Retail Furniture Retail 965,935 955,607 0.15%
36 Retail Furniture Retail 808,805 800,157 0.12%
- ------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 649,831,203 646,080,530 100.00%
</TABLE>
(1) The Administrative Cost for all loans, which includes Trustee and Servicing
Fees, is 4.5 basis points.
(2) L = Lockout, Def = Defeasance, YM = Yield Maintenance, O = Open. Number of
principal payment months at origination for each penalty type in
parenthesis.
(3) Minimum stabilized Debt Service Coverage (net of Lender Reserves) is
calculated as 1st Year Stabilized Base Rent due under a lease, less Funded
Reserves, divided by Annual Debt Service.
(4) Quarterly-pay Mortgage Loan; First principal payment date is 7/10/98.
(5) Quarterly-pay Mortgage Loan.
(6) Quarterly-pay Mortgage Loan; First principal payment date is 9/10/99.
(7) This Mortgage Loan is interest-only through 4/10/98, fully amortizes
thereafter.
(8) Mortgage Loan is a Construction Loan with the Mortgage Loan being
interest-only during the construction period then, unless otherwise noted,
fully amortizing thereafter.
(9) At origination, lockout for 36 months, defeasance for 71 months, then a
penalty of 3% and declining by a unique vector to 1% over 70 months.
(10) At origination, lockout for 60 months, defeasance for 120 months, the
lesser of 5% or yield maintenance for 116 months, then open.
(11) Balloon is fully insured subject to a non-cancelable Residual Value
Insurance Policy see "DESCRIPTION OF THE MORTGAGE POOL--Credit
Leases--Residual Insurance Policy".
(12) This Mortgage Loan was interest-only through 3/1/98, fully amortizes
thereafter.
(13) For Mortgage Loans secured by more than one Mortgaged Property, the Cut-Off
Date Balance for each such Mortgage Loan was allocated by multiplying the
Cut-Off Date Balance for each Mortgage Loan by the quotient of the
appraised value of the applicable Mortgaged Property relating to such
Mortgage Loan by the aggregate appraised value of the Mortgage Properties;
in each case as of the date of origination.
(14) Tenant responsible for making the Balloon Payment.
(15) This Mortgage Loan was interest-only through 1/1/98, fully amortizes
thereafter.
(16) The definition of Mortgaged Property for purposes of the Allegheny General
Hospitals Loan Control No. 2 includes all three buildings securing the
Mortgage Loan.
(17) Represents the Corporate Credit Rating with respect to S&P and the Long
Term Credit Rating with respect to Moody's.
(18) 66,629 sq. ft. is the size of the medical office building only. The
Allegheny General Hospital Loan (Control Number 2) also consists of a 1,200
space parking garage and a 807 space parking garage.
Page 7 of 9
<PAGE>
<TABLE>
<CAPTION>
Stated Orig
Cumulative % of Orig Rem Amort
Control Initial Pool Crossed Collateralized Interest Accrual Mortgage Term Term Term
No. Balance Loans Control No. Method Rate(1) (Mos.) (Mos.) (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
112 96.77% 30/360 7.740% 264 254 264
29 97.03% 30/360 7.480% 264 257 264
103 97.28% 30/360 6.739% 264 261 300
42 97.54% 30/360 7.480% 264 257 264
35 97.79% 30/360 7.480% 264 257 264
34 98.04% 30/360 7.480% 264 257 264
109 98.28% 30/360 7.253% 238 223 238
31 98.53% 30/360 7.480% 264 257 264
30 98.76% 30/360 7.480% 264 257 264
27 98.96% 30/360 7.480% 264 257 264
32 99.16% 30/360 7.480% 264 257 264
107 99.35% 30/360 6.739% 264 261 300
44 99.54% 30/360 7.480% 264 257 264
26 99.73% 30/360 7.480% 264 257 264
37 99.88% 30/360 7.480% 264 257 264
36 100.00% 30/360 7.480% 264 257 264
- -----------------------------------------------------------------------------------------------------------------------------------
7.489% 250 244 264
<CAPTION>
Rem
Amort
Control Term Origination Repayment Balloon/Repayment
No. (Mos.) Date Date Balance
- ----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
112 254 05/02/97 05/10/2019 --
29 257 08/06/97 08/10/2019 --
103 297 11/24/97 12/10/2019 369,259
42 257 08/25/97 08/10/2019 --
35 257 08/06/97 08/10/2019 --
34 257 08/06/97 08/10/2019 --
109 223 11/21/96 10/10/2016 --
31 257 08/06/97 08/10/2019 --
30 257 08/06/97 08/10/2019 --
27 257 08/25/97 08/10/2019 --
32 257 08/06/97 08/10/2019 --
107 297 12/08/97 12/10/2019 279,742
44 257 08/06/97 08/10/2019 --
26 257 08/25/97 08/10/2019 --
37 257 08/06/97 08/10/2019 --
36 257 08/25/97 08/10/2019 --
----------------------------------------------------------------------------------------------
258 961,437
</TABLE>
Page 8 of 9
<PAGE>
<TABLE>
<CAPTION>
Annual Annual Net
Control Prepayment Debt Rent (Before
No. Amortization Type Restrictions(2) Service Lender Reserves)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
112 Fully Amortizing L(60),Def(204) 161,718 161,718
29 Fully Amortizing L(60),Def(204) 156,381 156,381
103 Balloon (11) L(60),Def(204) 136,292 136,292
42 Fully Amortizing L(60),Def(204) 153,481 153,481
35 Fully Amortizing L(60),Def(204) 153,443 153,443
34 Fully Amortizing L(60),Def(204) 151,506 151,506
109 Fully Amortizing L(118),YM(114),0(6) 155,461 159,538
31 Fully Amortizing L(60),Def(204) 146,974 146,974
30 Fully Amortizing L(60),Def(204) 140,595 140,595
27 Fully Amortizing L(60),Def(204) 121,197 121,197
32 Fully Amortizing L(60),Def(204) 118,983 118,983
107 Balloon (11) L(60),Def(204) 103,251 103,251
44 Fully Amortizing L(60),Def(204) 115,330 115,330
26 Fully Amortizing L(60),Def(204) 115,316 115,316
37 Fully Amortizing L(60),Def(204) 89,630 89,630
36 Fully Amortizing L(60),Def(204) 75,050 75,050
<CAPTION>
Minimum Stabilized Tenant/Guarantor
Control Debt Service Coverage Year Square Loan per Rating(17) Lease Lease Lease
No. (Net of Lender Reserves)(3) Built Footage Sq Ft S&P Moody's Start Date Exp Date Type
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
112 1.00 1997 11,256 149.36 BBB+ Baa1 05/02/1997 05/31/2019 Bondable
29 1.00 1995 27,376 60.90 BB+ Ba1 08/06/1997 08/31/2019 Bondable
103 1.00 1997 11,200 146.35 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
42 1.00 1988 32,376 50.54 BB+ Ba1 08/06/1997 08/31/2019 Bondable
35 1.00 1996 26,928 60.75 BB+ Ba1 08/06/1997 08/31/2019 Bondable
34 1.00 1995 23,803 67.86 BB+ Ba1 08/06/1997 08/31/2019 Bondable
109 1.02 1995 11,276 139.69 BBB+ Baa1 10/10/1996 10/09/2016 Double Net
31 1.00 1995 27,440 57.11 BB+ Ba1 08/06/1997 08/31/2019 Bondable
30 1.00 1967 28,880 51.90 BB+ Ba1 08/06/1997 08/31/2019 Bondable
27 1.00 1981 40,031 32.28 BB+ Ba1 08/06/1997 08/31/2019 Bondable
32 1.00 1994 36,243 35.00 BB+ Ba1 08/06/1997 08/31/2019 Bondable
107 1.00 1997 10,560 117.59 BBB+ Baa1 11/24/1997 11/30/2019 Bondable
44 1.00 1972 50,059 24.56 BB+ Ba1 08/06/1997 08/31/2019 Bondable
26 1.00 1973 50,027 24.58 BB+ Ba1 08/06/1997 08/31/2019 Bondable
37 1.00 1965 48,135 19.85 BB+ Ba1 08/06/1997 08/31/2019 Bondable
36 1.00 1984 23,570 33.95 BB+ Ba1 08/06/1997 08/31/2019 Bondable
- ------------------------------------------------------------------------------------------------------------------------------------
1.02 1989 112,747 182.61
</TABLE>
Page 9 of 9
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
- ------------------------------------------------------------------------------------------------------------------------------------
% OF CASH FLOW
INITIAL INITIAL PASS- WEIGHTED OR
EXPECTED CERTIFICATE POOL CREDIT THROUGH AVERAGE PRINCIPAL
CLASS RATING(1) BALANCE(2) BALANCE SUPPORT DESCRIPTION RATE LIFE (YEARS)(3) WINDOW(3)
- ----- --------- ---------- ------- ------- ----------- ---- --------------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Publicly Offered Certificates
Class A-1 Aaa/AAA $132,820,333 20.6% 30.0% Fixed Coupon 6.31% 5.0 04/98-12/06
Class A-2 Aaa/AAA $ 82,098,000 12.7% 30.0% Fixed Coupon 6.48% 10.0 12/06-06/09
Class A-3 Aaa/AAA $235,868,000 36.5% 30.0% Fixed Coupon 6.72% 14.7 06/09-01/16
Class A-PO Aaa/NR $ 1,469,667 0.2% 30.0% Principal Only (4) 14.1 04/98-2/20
Class B Aa2/AA $ 38,765,000 6.0% 24.0% Fixed Coupon 6.75% 18.3 01/16-12/16
Class C A2/A $ 32,304,000 5.0% 19.0% Fixed Coupon 6.75% 19.1 12/16-09/17
Class D Baa2/BBB $ 38,765,000 6.0% 13.0% Fixed Coupon 6.75% 19.8 09/17-07/18
Class E Baa3/BBB- $ 9,691,000 1.5% 11.5% Fixed Coupon 6.75% 20.4 07/18-10/18
Class IO Aaa/AAAr (5) N/A N/A Variable I/O Strip (6) N/A 04/98-03/23
Private Certificates
Class F (7) $ 58,147,000 9.0% 2.5% Fixed Coupon 6.25% 21.3 10/18-12/19
Class G (7) $ 3,230,000 0.5% 2.0% Fixed Coupon 6.25% 21.8 12/19-03/20
Class H (7) $ 4,846,000 0.8% 1.3% Fixed Coupon 6.25% 22.2 03/20-10/20
Class J (7) $ 1,615,000 0.2% 1.0% Fixed Coupon 6.25% 22.7 10/20-02/21
Class K (7) $ 6,461,530 1.0% N/A Fixed Coupon 6.25% 23.8 02/21-03/23
- ----------------------------
</TABLE>
(1) By each of Moody's Investors Service, Inc. and, except with respect to the
Initial Class A-PO Certificates, Standard & Poor's Ratings Services, a
division of The McGraw-Hill Companies, Inc.
(2) Subject to a permitted variance of plus or minus 5%.
(3) Based on Scenario (1) set forth under "YIELD AND MATURITY
CONSIDERATIONS-Weighted Average Life" in the Prospectus Supplement.
(4) The Class A-PO Certificates will not entitle the holders thereof to receive
distributions of interest, but will entitle such holders to receive
distributions of principal with respect to the Discount Mortgage Loans, and
as otherwise described in the Prospectus Supplement. See "DESCRIPTION OF
THE CERTIFICATES-Distributions" in the Prospectus Supplement.
(5) The Class IO Certificates will not have a principal balance nor will they
entitle the holders thereof to receive distributions of principal. See
"SUMMARY OF PROSPECTUS SUPPLEMENT-Certificate Balances and Notional
Amounts" in the Prospectus Supplement.
(6) Holders of the Class IO Certificates will be entitled to receive
distributions of interest in an amount equal to the aggregate of the
interest accrued on the notional amount of each of its Components.
(7) Not offered publicly. Accordingly, any information herein regarding the
terms of such Class of Certificates is provided solely because of its
potential relevance to a prospective purchaser of an Offered Certificate.
- --------------------------------------------------------------------------------
KEY FEATURES:
O PASS-THROUGH STRUCTURE: Senior/subordinated, sequential pay pass-through
certificates.
O UNDERWRITERS: Merrill Lynch & Co. (lead), Legg Mason Wood Walker,
Incorporated (co-manager), and Daiwa Securities America Inc. (co-manager).
O TRANSACTION: Collateralized by 105 commercial mortgage loans secured by
mortgages on 142 Mortgaged Properties.
O MORTGAGE LOANS: All are secured by Mortgages on Mortgaged Properties
subject to a lease (a "Credit Lease") to a single Tenant.
O CREDIT LEASE TYPES: (a) 85% of the Mortgage Loans are "Bondable Leases",
(b) 7% are Double Net Leases, and (c) 8% are Triple Net Leases with a Lease
Enhancement Policy to mitigate Casualty or Condemnation Rights.
O MORTGAGE LOAN AMORTIZATION: 75% of the Balance of the Mortgage Loans fully
amortize, 20% have insurance covering the Balloon Payments, and 5% have a
Tenant obligated to make a rent payment corresponding to the Balloon
Payment.
O PREPAYMENT PROVISIONS: All of the Mortgage Loans restrict or prohibit
voluntary principal prepayments, with 96% of the Initial Pool Balance
having Lockout/Defeasance with a weighted average of one month open
prepayment prior to maturity.
O TENANT RATINGS: 50% of the Balance of all of the Mortgages Loans are
associated with publicly rated investment grade Tenants, 27% are associated
with below investment grade Tenants and 23% are associated with Tenants for
which no public rating exists.
- --------------------------------------------------------------------------------
[LOGO] Merrill Lynch THE SECURITIES DESCRIBED HEREIN ARE OFFERED ONLY
(212)449-3860 PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT AND PROSPECTIVE INVESTORS WHO CONSIDER
[LOGO] LEGG MASON PURCHASING ANY SUCH SECURITIES ARE ADVISED TO CAREFULLY
CAPITAL MARKETS READ, AND SHOULD RELY SOLELY ON THE DETAILED
(410) 454-4920 INFORMATION APPEARING IN THE PROSPECTUS AND PROSPECTUS
SUPPLEMENT. THIS ANNEX B DOES NOT INCLUDE ALL RELEVANT
[LOGO] DAIWA INFORMATION RELATING TO THE SECURITIES AND UNDERLYING
(212) 612-6920 ASSETS DESCRIBED HEREIN, PARTICULARLY WITH RESPECT TO
THE RISKS AND SPECIAL CONSIDERATIONS INVOLVED WITH AN
INVESTMENT IN SUCH SECURITIES AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO THE DETAILED INFORMATION SET
FORTH IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT.
CERTAIN CAPITALIZED TERMS USED HEREIN MAY BE DEFINED IN
THE PROSPECTUS OR PROSPECTUS SUPPLEMENT.
- --------------------------------------------------------------------------------
B-1
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
MORE KEY FEATURES:
O DEPOSITOR: Merrill Lynch Mortgage Investors, Inc.
O MORTGAGE LOAN SELLER: Daiwa Finance Corp., ("Daiwa Finance"), who will have acquired all but one of such Mortgage Loans from
Legg Mason Mortgage Capital Corporation ("LMMCC").
O MASTER SERVICER, AND SPECIAL SERVICER: GMAC Commercial Mortgage Corporation.
O TRUSTEE: Norwest Bank Minnesota, National Association.
O INTEREST ACCRUAL PERIOD: The 1st day of the month to the 1st day of the month.
O DISTRIBUTION DATE: The 15th day of each month, or if any such 15th day is not a business day, then on the next succeeding
business day (but in no case, no earlier than the fourth business day following the Determination Date).
O DETERMINATION DATE: The 10th day of each month or, if any such day is not a business day, the next succeeding business day.
O DELIVERY: The Depository Trust Company ("DTC") through Cede & Co.
O ERISA: Only Classes A-1, A-2, A-3, A-PO, and Class IO Certificates are ERISA eligible subject to certain conditions for
eligibility.
O SMMEA: Any Offered Certificates rated "AAA" or "AA" will be SMMEA eligible. All other Offered Securities are not SMMEA
eligible.
O TAX TREATMENT: REMIC.
O OPTIONAL TERMINATION: 1% clean up call.
DESCRIPTION OF PROPERTY TYPES:
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF PROPERTY TYPES
- ------------------------------------------------------------------------------------------------------------------------------------
WEIGHTED AVERAGES
NUMBER AGGREGATE % OF AVERAGE HIGHEST ---------------------
OF CUT-OFF INITIAL CUT-OFF CUT-OFF STATED AVERAGE
MORTGAGED DATE POOL DATE DATE MORTGAGE REMAINING LOAN PER PROPERTY
PROPERTY TYPES PROPERTIES BALANCE(1) BALANCE(1) BALANCE(1) BALANCE(1) RATE TERM (MO.) SQ. FT(1) SIZE (SQ. FT)
- -------------- ---------- ----------- ---------- ---------- ----------- ---- ---------- ---------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Retail
Drug Store 43 $120,115,866 18.59% $ 2,793,392 $ 6,059,817 6.805% 259 192 18,560
Electronics Store 9 57,026,168 8.83 6,336,241 9,557,521 7.940 254 163 42,279
Grocery/Department Store 3 45,020,588 6.97 15,006,863 18,109,170 7.712 268 88 173,810
Furniture Store 20 32,692,380 5.06 1,634,619 3,175,950 7.480 257 47 38,829
Discount Store 4 22,775,358 3.53 5,693,839 7,525,857 7.770 261 57 117,051
Grocery Store 3 16,332,349 2.53 5,444,116 6,067,932 7.726 289 94 59,107
Other 3 37,779,098 5.85 12,593,033 21,168,827 7.399 240 135 145,303
- ------------------------------------------------------------------------------------------------------------------------------------
SubTotal 85 331,741,806 51.35 3,902,845 21,168,827 7.369 259 138 68,895
Office 9 197,663,315 30.59 21,962,591 67,170,088 7.537 244 211 210,889
Health Club 6 43,688,078 6.76 7,281,346 8,476,308 8.760 250 157 47,066
Office/Garage 1(2) 35,340,416 5.47 35,340,416 35,340,416 7.030 223 530 66,629(3)
Office/Warehouse 1 3,578,055 0.55 3,578,055 3,578,055 6.630 158 178 20,140
Other 40 34,068,861 5.27 851,722 14,135,554 7.320 122 133 49,343
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 142 $646,080,530 100.00% $ 4,549,863 $67,170,088 7.489% 244 183 109,436
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) For two (2) Mortgage Loans (Control Numbers 55 and 56) which are each
secured by more than one Mortgaged Property, the Cut-Off Date Balance
for each such Mortgage Loan was allocated by multiplying the Cut-Off
Date Balance for each such Mortgage Loan by the quotient of the
appraised value of the applicable Mortgaged Property relating to such
Mortgage Loan by the aggregate appraised value of the Mortgaged
Properties, in each case as of the date of origination.
(2) The Mortgaged Property for purposes of the Allegheny General Hospital
Loan (Control Number 2) includes all three buildings securing the
Mortgage Loan. (3) 66,629 square feet is the size of the medical
office building only. The Allegheny General Hospital Loan (Control
Number 2) also consists of a 1,200 car parking garage and an 807 car
parking garage.
B-2
<PAGE>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS
[LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- --------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
- --------------------------------------------------------------------------------
LOAN INFORMATION
INITIAL POOL BALANCE: $646.1 million (105 loans/142 properties)
AVG./MAX. BALANCE: $6.2 million / $67.2 million
LOAN TYPES: All fixed rate; 25% balloons, 75% fully amortizing
NET WAC: 7.489% (Range = 6.570% - 9.000%)
WTD. AVG. SEASONING: 6 months (85% originated in 1997-1998)
WTD. AVG. RTM: 20.33 years
CALL PROTECTION: Currently, all loans are locked out or have
defeasance or yield maintenance restrictions.
TENANT CONCENTRATION: None greater than 18% of the pool
CROSS COLLATERALIZATION: Six of the Mortgage Loans (7%) are
cross-collateralized or cross-defaulted with one or
more Mortgage Loans in the Pool.
WAC = WEIGHTED AVERAGE MORTGAGE RATE
RTM = REMAINING TERM TO MATURITY
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY TYPE DISTRIBUTION
NO. OF % OF
MTGD. POOL
TYPE PROPS. (1)
------------------------------------
Retail
Drug Store 43 19%
Electronics 9 9
Store
Grocery/Dept.
Store 3 7
Furniture Store 20 5
Discount Store 4 4
Grocery Store 3 3
Other 3 6
------------------------------------
Subtotal 85 51%
Office 9 31
Health Club 6 7
Office/Garage 1 5
Office/Warehouse 1 1
Other 40 5
------------------------------------
TOTAL 142 100%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION
(Total of 28 States)
NO. OF MTGD. % OF
STATE PROPS. POOL (1)
----- --------- --------
Pennsylvania: 44 25%
New York: 10 15
Washington: 8 6
Florida: 6 6
California: 11 6
Oregon: 7 5
All others <5% 56 37
--------------- --------------- ----------
TOTAL 142 100%
(1) For two (2) Mortgage Loans (Control Numbers 55 and 56) which are each
secured by more than one Mortgaged Property, the Cut-Off Date balance for each
such Mortgage Loan was allocated by multiplying the Cut-Off Date balance for
each such Mortgage Loan by the quotient of the appraised value of the applicable
Mortgaged Property relating to such Mortgage Loan by the aggregate appraised
value of the Mortgaged Properties, in each case as of the date of origination.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
ORIGINAL TERMS
NO. OF MTG.
TERM LOANS % OF POOL
------------------------------------------------------
10 Yr. Balloon 2 3%
11 to 14 Yr. Balloon 1 2
16 to 20 Yr. Balloon 1 3
21 to 25 Yr. Balloon 37 17
Fully Amortizing 64 75
------------------------------------------------------
TOTAL 105 100%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
STATED REMAINING TERMS
NO. OF MTG.
TERM LOANS % OF POOL
------------------------------------------------------
112-120 months 2 3%
121-228 10 21
229-240 4 6
241-300 89 71
------------------------------------------------------
TOTAL 105 100%
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
CUT-OFF DATE BALANCES
----------------------- WEIGHTED AVERAGES
% OF CUMULATIVE -------------------------
RANGE OF NO. OF AGGREGATE INITIAL % OF INITIAL STATED
CUT-OFF DATE MORTGAGE CUT-OFF DATE POOL POOL MORTGAGE REMAINING
BALANCES LOANS BALANCE BALANCE BALANCE RATE TERM (MOS.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
$800,157 - $999,999 2 $1,755,763 0.27% 0.27% 7.480% 257
1,000,000 - 1,999,999 25 40,596,897 6.28 6.56 7.300 253
2,000,000 - 2,999,999 21 51,996,217 8.05 14.60 6.850 259
3,000,000 - 3,999,999 15 50,645,938 7.84 22.44 6.978 238
4,000,000 - 4,999,999 7 31,361,274 4.85 27.30 7.169 261
5,000,000 - 5,999,999 7 38,641,428 5.98 33.28 8.093 265
6,000,000 - 6,999,999 5 32,380,042 5.01 38.29 7.994 269
7,000,000 - 7,999,999 4 29,223,147 4.52 42.81 8.218 239
8,000,000 - 8,999,999 3 24,969,135 3.86 46.68 8.389 251
9,000,000 - 9,999,999 2 18,758,716 2.90 49.58 7.753 244
10,000,000 - 14,999,999 4 53,168,823 8.23 57.81 7.537 229
15,000,000 - 19,999,999 6 103,015,231 15.94 73.75 7.337 229
20,000,000 - 24,999,999 1 21,168,827 3.28 77.03 6.960 235
25,000,000 - 39,999,999 1 35,340,416 5.47 82.50 7.030 223
40,000,000 - 67,170,088 2 113,058,676 17.50 100.00 7.746 244
====================================================================================================================================
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 100.00% 7.489% 244
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
B-3
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
TENANTS AND GUARANTORS:
- ------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY OF TENANT/GUARANTOR
- ------------------------------------------------------------------------------------------------------------------------------------
WEIGHTED AVERAGES
AGGREGATE % OF INITIAL CUMULATIVE % OF -------------------------------------
NO. OF CUT-OFF DATE POOL INITIAL POOL MORTGAGE STATED REMAINING
INDUSTRY (1) LOANS BALANCE BALANCE BALANCE RATE TERM (MOS.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Non-Profit Hospital 5 $134,953,182 20.89% 20.89% 7.01% 248
Drug Store 43 120,115,866 18.59 39.48 6.81 259
Electronics Retailer 10 69,148,018 10.70 50.18 7.89 254
Footwear 1 45,888,588 7.10 57.28 9.00 228
Grocery/Dept. Store 3 45,020,588 6.97 64.25 7.71 268
Health Club 6 43,688,078 6.76 71.02 8.76 250
Social Services Provider 3 34,068,861 5.27 76.29 7.32 122
Retail Furniture 20 32,692,380 5.06 81.35 7.48 257
Department Store 4 22,775,358 3.53 84.87 7.77 261
DIY Home Improvement 1 21,168,827 3.28 88.15 6.96 235
Fire/Marine Insurance 1 17,912,875 2.77 90.92 6.90 172
Grocery Store 3 16,332,349 2.53 93.45 7.73 289
Government 1 15,884,014 2.46 95.91 6.64 246
HMO 1 15,309,449 2.37 98.28 8.35 299
Retail-Office Supplies 1 4,488,421 0.69 98.97 8.82 229
Newspaper Publisher 1 3,578,055 0.55 99.53 6.63 158
Cable/Entertainment 1 3,055,623 0.47 100.00 7.36 180
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 100.00% 7.49% 244
- ------------------------------------------------------------------------------------------------------------------------------------
(1) LMMCC internal industry designation.
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
CREDIT RATINGS OF TENANTS/GUARANTORS
- -----------------------------------------------------------------------------------------------------------------------------------
WEIGHTED AVERAGES
TENANT/GUARANTOR CREDIT RATINGS (1) % OF AGGREGATE -------------------------
- ------------------------------------- AGGREGATE % OF PUBLICLY RATED STATED
STANDARD & NO. OF CUT-OFF DATE INITIAL POOL CUT-OFF DATE MORTGAGE REMAINING
POOR'S MOODY'S LOANS BALANCE BALANCE BALANCE RATE TERM (MOS.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AAA Aaa 1 $ 17,912,875 2.77% 3.61% 6.900% 172
AA Aa2 1 15,884,014 2.46 3.20 6.640 246
AA- Aa3 2 23,241,483 3.60 4.69 6.979 272
A+ A2 1 3,578,055 0.55 0.72 6.630 158
A A3 2 102,510,504 15.87 20.68 6.938 244
A No Public Rating 1 1,876,468 0.29 0.38 7.190 220
BBB+ Baa1 42 118,239,398 18.30 23.85 6.799 259
BBB No Public Rating 3 34,068,861 5.27 6.87 7.320 122
BBB- Baa3 1 3,055,623 0.47 0.62 7.360 180
- -----------------------------------------------------------------------------------------------------------------------------------
Investment Grade SubTotal 54 320,367,280 49.59 64.62 6.916 233
- -----------------------------------------------------------------------------------------------------------------------------------
BB+ Baa2 1 4,488,421 0.69 0.91 8.818 229
BB+ Ba1 20 32,692,380 5.06 6.59 7.480 257
BB+ Ba2 3 45,020,588 6.97 9.08 7.712 268
BB Ba2 5 68,663,946 10.63 13.85 8.592 239
BB No Public Rating 1 9,201,195 1.42 1.86 7.870 235
BB- No Public Rating 1 15,309,449 2.37 3.09 8.350 299
- -----------------------------------------------------------------------------------------------------------------------------------
Non-Investment Grade SubTotal 31 175,375,979 27.14 35.38 8.106 255
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
PUBLICLY RATED TOTAL/WTD. AVGS. 85 495,743,259 76.73 100.00 7.337 241
- -----------------------------------------------------------------------------------------------------------------------------------
NO AVAILABLE RATING TOTAL/WTD. AVGS. 20 150,337,271 23.27 - 7.993 254
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $ 646,080,530 100.00% - 7.489% 244
- -----------------------------------------------------------------------------------------------------------------------------------
(1) Such ratings are the corporate credit ratings assigned to the related Tenant or Guarantor, as applicable, by Standard & Poor's
and the long-term debt rating assigned by Moody's, respectively as of March 25, 1998. The various rating categories of any
rating organization, and the ratings presented above, reflect differing analyses depending on the obligation being rated. The
ratings presented above do not consistently rate the same type of obligation.
B-4
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
---------------------------------------------------------------------------------------------------------------------------
TENANTS/GUARANTOR
---------------------------------------------------------------------------------------------------------------------------
NO. OF NO. OF AGGREGATE % OF DSCR
MORTGAGE MORTGAGED CUT-OFF DATE INITIAL POOL (NET OF LENDER
TENANT/GUARANTOR (IF APPLICABLE) LOANS PROPERTIES BALANCE BALANCE RESERVES)
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Rite Aid Corporation 42 42 $118,239,398 18.30% 1.00x
Allegheny General Hospital 2 2 102,510,504 15.87 1.03
Circuit City Stores, Inc. 10 10 69,148,018 10.70 1.00
Nine West Group, Inc. 1 1 45,888,588 7.10 1.05
Fred Meyer, Inc. 3 3 45,020,588 6.97 1.00
Q Clubs Inc. 6 6 43,688,078 6.76 1.00
Northwestern Human Services, Inc. 3 40 34,068,861 5.27 1.00
Heilig-Meyers Company 20 20 32,692,380 5.06 1.00
Baptist Hospital, Inc. 2 2 23,241,483 3.60 1.00
Kmart Corp. 4 4 22,775,358 3.53 1.01
Home Depot U.S.A., Inc. 1 1 21,168,827 3.28 1.01
Federal Insurance Company 1 1 17,912,875 2.77 1.04
County of Monroe 1 1 15,884,014 2.46 1.02
Health Insurance Plan of Greater New York 1 1 15,309,449 2.37 1.15
The Golub Corporation (Price Chopper) 2 2 11,612,599 1.80 1.01
Allegheny Hospitals, Centennial 1 1 9,201,195 1.42 1.00
Giant Food, Inc. 1 1 4,719,750 0.73 1.36
Office Depot, Inc. 1 1 4,488,421 0.69 1.01
The Times Mirror Company 1 1 3,578,055 0.55 1.04
Time Warner Entertainment, L.P. 1 1 3,055,623 0.47 1.07
Eckerd Corp. 1 1 1,876,468 0.29 1.02
---------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVG. 105 142 $646,080,530 100.00% 1.02X
---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
CREDIT RATING (1)
----------------------------
TENANT/GUARANTOR (IF APPLICABLE) PROPERTY TYPE LEASE TYPE S&P MOODY'S
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Rite Aid Corporation Retail - Drug Store (2) BBB+ Baa1
Allegheny General Hospital Office/Garage, Office Bondable A A3
Circuit City Stores, Inc. Retail - Electronics Store, Retail - Bondable (3) (3)
Other
Nine West Group, Inc. Office Bondable BB Ba2
Fred Meyer, Inc. Retail - Grocery/Dept Store Bondable BB+ Ba2
Q Clubs Inc. Health Club Bondable (3) (3)
Northwestern Human Services, Inc. Other Bondable BBB (3)
Heilig-Meyers Company Retail - Furniture Store Bondable BB+ Ba1(5)
Baptist Hospital, Inc. Office Bondable AA- Aa3
Kmart Corp. Retail - Discount Store Bondable BB Ba2
Home Depot U.S.A., Inc. Retail - Other Double Net Lease (3) (3)
Federal Insurance Company Office Triple Net Lease AAA Aaa
County of Monroe Office Triple Net Lease AA Aa2
Health Insurance Plan of Greater New York Office Double Net Lease BB- (3)
The Golub Corporation (Price Chopper) Retail - Grocery Store (4) (3) (3)
Allegheny Hospitals, Centennial Office Bondable BB (3)
Giant Food, Inc. Retail - Grocery Store Triple Net Lease (3) (3)
Office Depot, Inc. Retail - Other Double Net Lease BB+ Baa2
The Times Mirror Company Office/Warehouse Double Net Lease A+ A2
Time Warner Entertainment, L.P. Office Bondable BBB- Baa3
Eckerd Corp. Retail - Drug Store Triple Net Lease A (3)
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
(1) Such ratings are the corporate credit rating assigned to the related Tenant or Guarantor by Standard & Poor's and the long-term
debt rating assigned by Moody's, respectively as of March 25, 1998. The various rating categories of any rating organization,
and the ratings presented above, reflect differing analyses depending on the obligation being rated. The ratings presented
above do not consistently rate the same type of obligation.
(2) 94.8% Bondable Lease, 2.3% Triple Net Lease, and 2.9% Double Net Lease (percentages of Rite-Aid Loans by Cut-Off Date Balance).
(3) No public rating available.
(4) 47.7% Bondable Leases, 52.3% Triple Net Leases (percentages of The Golub Corporation Loans by Cut-Off Date Balance).
(5) Such rating reflects the rating assigned to MacSaver Financial Services, Inc., a subsidiary of Heilig Golub-Meyers Company, for
which Heilig-Meyers Company has guaranteed its long term debt.
</FN>
</TABLE>
B-5
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
CONSTRUCTION LOANS: Five of the Mortgage Loans, 18.58% of the Balance of Mortgage Loans, are Construction Loans.
- ------------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF CONSTRUCTION LOANS
- ------------------------------------------------------------------------------------------------------------------------------------
% OF SCHEDULED
CREDIT RATING (1) INITIAL CONSTRUCTION CONSTRUCTION CONSTRUCTION
CONTROL ----------------- CUT-OFF DATE POOL COMPLETION DEFAULT DEFAULT
NUMBER TENANT/LEASE GUARANTOR S&P MOODY'S BALANCE BALANCE DATE (3) DATE (4) CALL PRICE
- ------------------------------------------------------------------------------------------------------------------------------------
3 Allegheny General Hospital A A3 $ 67,170,088 10.40% 8/31/1999 11/30/1999 105.0%
4 Baptist Hospital, Inc. AA- Aa3 19,791,521 3.06 8/31/1998 12/31/1999 104.6
53 County of Monroe AA Aa2 15,884,014 2.46 9/1/1998 9/1/1998 103.0
57 Northwestern Human Services, Inc. BBB (2) 14,135,554 2.19 5/31/1999 9/30/1999 105.0
113 Time Warner Entertainment, L.P. BBB- Baa3 3,055,623 0.47 4/1/1998 12/1/1999 110.0 (4)
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL $120,036,800 18.58%
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
(1) Such ratings are the corporate credit rating assigned to the related Tenant or Guarantor by Standard & Poor's and the long-term
debt rating assigned by Moody's, respectively as of March 25, 1998. The various rating categories of any rating organization,
and the ratings presented above, reflect differing analyses depending on the obligation being rated. The ratings presented
above do not consistently rate the same type of obligation.
(2) Not publicly rated.
(3) The date upon which construction is scheduled to be completed pursuant to the terms of the Credit Lease and related documents.
(4) The date on which the Tenant will be in default under the Credit Lease if construction is incomplete except with respect to one
Mortgage Loan (Control Number 53) for which the Construction Default Date is the date on which the borrower will be in default
under the Mortgage Loan if construction is not complete, thereby permitting the trustee to draw on the Letter of Credit issued
by Fleet National Bank.
(5) Minimum prepayment amounts assuming the Tenant exercises its option to purchase the Mortgage Loan from lender following a
construction default. In the event the Tenant does not exercise such option, the prepayment amount will be based upon a default
payment from the Tenant under the lease which will be equal to or greater than 132% of the Mortgage Loan balance.
</FN>
<CAPTION>
CREDIT LEASES: The payment of interest and principal on all of the Mortgage Loans is dependent principally on the payment by
each Tenant (or Guarantor of the Tenant's Credit Lease, if any) of rent payments due under the terms of its
Credit Lease. Each Credit Lease generally provides that the related Tenant must pay all real property taxes and
assessments, and except in the case of certain of the Double Net Leases, all costs and expenses incurred in
connection with the maintenance and operation of the related Mortgaged Property. Repair and maintenance reserves
or other mitigating arrangements were put in place for these Double Net Leases. The Tenants are obligated to
make all payments directly to the lender in a hard "lock-box" type arrangement.
<S> <C> <C>
TYPES OF CREDIT LEASES % OF POOL DESCRIPTION
- ------------------------------------------------------------------------------------------------------------------------------------
"Bondable Leases" 85 Tenants cover all expenses. Leases can be terminated for Casualty or Condemnation.
"Triple Net Leases" 8 Tenants cover all expenses. Leases can be terminated for Casualty or Condemnation;
however, the Trustee on behalf of the Certificateholders will be assigned the
benefit of certain non-cancelable prepaid Lease Enhancement Policies issued by Chubb
Custom Insurance Company (1).
"Double Net Leases" 7 Tenants do not cover all expenses, but generally Double Net Leases have the benefit
of certain additional rights and maintenance rights which are mitigated by repair
and maintenance reserves and debt service coverage ratios in excess of 1.0x to cover
certain termination or rent abatement rights. Leases can be terminated for Casualty
or Condemnation; however, the Trustee on behalf of the Certificateholders will be
assigned the benefit of certain non-cancelable prepaid Lease Enhancement Policies
issued by Chubb Custom Insurance Company (1).
<FN>
(1) As of the Cut-Off Date, Chubb Custom Insurance Company was rated "AAA" by Standard & Poor's, "AAA" by Duff & Phelps, and "Aa2"
by Moody's.
</FN>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
AMORTIZATION OF CREDIT LEASES
- ------------------------------------------------------------------------------------------------------------------------------------
WEIGHTED AVERAGE BALLOON BALANCE AS A
AMORTIZATION TYPE NO. OF MORTGAGE LOANS % OF INITIAL POOL BALANCE % OF ORIGINAL BALANCE DUE AT BALLOON DATE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Fully Amortizing Loans 64 75% N/A
Insured Balloon Loans 38 20 26%
Tenant Balloon Loans 3 5 70
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 105 100%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
B-6
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
PREPAYMENT PROTECTION:
- ------------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT RESTRICTIONS AND DEFEASANCE BY CATEGORIES
- ------------------------------------------------------------------------------------------------------------------------------------
WEIGHTED AVERAGES
-----------------------------------------------------
AGGREGATE % OF NUMBER OF MONTHS OPEN
NO. OF CUT-OFF INITIAL STATED REMAINING TO PREPAYMENT PRIOR TO
MORTGAGE DATE POOL REM. TERM LOCKOUT/DEFEASANCE MATURITY
PREPAYMENT RESTRICTION LOANS BALANCE BALANCE (MOS.) TERM (MOS.) (MOS.)
---------------------- -------- --------- ------- --------- ------------------ ----------------------
<S> <C> <C> <C> <C> <C> <C>
Lockout, then Defeasance 102 $621,872,790 96.25% 246 245 1
Lockout, then Defeasance, then
Static Percentage Premiums 1 17,912,875 2.77 172 102 0
Lockout, then Defeasance, then 5%
Percentage Premium (1) 1 4,719,750 0.73 291 171 4
Lockout, then Yield Maintenance 1 1,575,115 0.24 223 103 6
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 244 240 1
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
(1) The lesser of 5% Percentage Premium or Yield Maintenance.
</FN>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT RESTRICTIONS AND DEFEASANCE BY ORIGINAL TERM
- ------------------------------------------------------------------------------------------------------------------------------------
WEIGHTED AVERAGES
--------------------------------------------------------
% OF REM. MONTHS
NO. OF AGGREGATE INITIAL STATED LOCKOUT OR OPEN
MORTGAGE CUT-OFF DATE POOL MORTGAGE REMAINING DEF. TERM MONTHS MONTHS PRIOR TO
ORIGINAL TERM PREPAYMENT RESTRICTION LOANS BALANCE BALANCE RATE TERM (MOS.) (MOS.) YM PP MATURITY
------------- ---------------------- ------- ------------ ------- -------- ----------- ---------- ------ ------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
10 Year Balloon Lockout, then Defeasance 2 $ 19,933,306 3.09% 7.448% 113 113 0 0 0
11 to 14 Year Lockout, then Defeasance 1 14,135,554 2.19 7.140 135 135 0 0 0
Balloon
16 to 20 Year Lockout, then Defeasance 1 21,168,827 3.28 6.960 235 232 0 0 2
Balloon
21 to 25 Year Lockout, then Defeasance 37 108,778,693 16.84 6.739 261 261 0 0 0
Balloon
- ------------------------------------------------------------------------------------------------------------------------------------
BALLOON SUBTOTAL 41 164,016,381 25.39 6.888 229 228 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
Fully Amortizing Lockout, then Defeasance 61 457,856,410 70.87 7.727 252 251 0 0 1
Lockout, then
Defeasance, then
Static Percentage
Premiums 1 17,912,875 2.77 6.900 172 102 0 70 0
Lockout, then
Defeasance, then 5%
Percentage Premium (1) 1 4,719,750 0.73 7.620 291 171 116 0 4
Lockout, then Yield
Maintenance 1 1,575,115 0.24 7.253 223 103 114 0 6
- ------------------------------------------------------------------------------------------------------------------------------------
FULLY AMORTIZING
SUBTOTAL 64 482,064,149 74.61 7.694 249 244 2 3 1
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WTD. AVGS. 105 $646,080,530 100.00% 7.489% 244 240 1 2 1
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
(1) The lesser of 5% Percentage Premium or Yield Maintenance.
</FN>
</TABLE>
B-7
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
<S> <C>
ALLOCATION OF
PREPAYMENT PREMIUMS: Prepayment premiums will be allocated among the REMIC Regular Certificates as follows:
o Any yield maintenance charges and percentage prepayment premiums will be allocated among the
REMIC Regular Certificates based upon a formula which is based, in part, on the relationship
between the Pass-Through Rate of the Class(es) currently receiving principal, the mortgage
rate of the loan that has prepaid, and current interest rates.
------------------------------------------------------------------------
% of Prepayment Premium (Pass-Through Rate - Discount Rate)
= -----------------------------------
Allocated to Non-IO Certificates (Mortgage Rate - Discount Rate)
------------------------------------------------------------------------
o Any penalties not allocated to non-IO certificates will be allocated to Class IO
Certificates. In general, this formula provides for an increase in the allocation of
prepayment premiums to the Sequential Pay Certificates as interest rates decrease and a
decrease in the allocation to such classes as interest rates rise.
o The "Discount Rate" applicable to any Class of Offered Certificates will be equal to the
yield (when compounded monthly) on the non-callable U.S. Treasury issue (primary issue) with
a maturity date closest to the maturity date for the prepaid Mortgage Loan as reported in
The Wall Street Journal on the date of such prepayment. In the event that there are two such
U.S. Treasury issues (a) with the same coupon, the issue with the lower yield will be
utilized, and (b) with maturity dates equally Certificates close to the maturity date for
the prepaid Mortgage Loan, the issue with the earliest maturity date will be utilized.
UNDERWRITING
CRITERIA: A variety of factors were considered in originating each Mortgage Loan, the most important of which is the
credit rating of the Tenant. Tenants must have either (i) an actual published corporate, senior debt or
claims-paying ability of not less than "B" or the equivalent, or (ii) a private confidential rating
estimate of not less than "B" or the equivalent, as ascribed by a nationally recognized rating agency,
based solely on an analysis of certain financial information including an analysis of certain financial
ratios indicating that the Tenant meets certain credit parameters. In all cases, the Mortgage Loans were
underwritten using criteria that generally meet the "Credit Tenant Loan Guidelines" established by the
National Association of Insurance Commissioners for "Schedule D" bond investment treatment.
The originators determine whether the Credit Lease is a Bondable Lease, Triple Net Lease, or Double Net
Lease. All Mortgage Loans secured by Triple or Double Net Leases which have Casualty or Condemnation Rights
must have the benefit of a Lease Enhancement Policy. For Bondable or Triple Net Leases, the Mortgage Loan
is generally underwritten using a Minimum Stabilized Debt Service Coverage Ratio of 1.0x. For Double Net
Leases, the Mortgage Loan is generally underwritten using a Minimum Stabilized Debt Service Coverage Ratio
of not less than 1.01x, after deducting reserves and any other adjustments. Reserves for Mortgage Loans
secured by Double Net Leases equal at least 150% of the amounts recommended in the third-party engineering
assessments.
SPECIAL SERVICER/
LOAN MODIFICATIONS: The initial Special Servicer will be GMAC Commercial Mortgage Corporation. The Special Servicer will be
responsible for servicing loans that, in general, are in default or are in imminent default and for
administering REO properties. The Special Servicer may modify such loans, if among other things, such
modification, in the sole good faith judgement of the Special Servicer, increases the recovery to
Certificateholders on a present value basis.
The Special Servicer will be permitted to extend the date on which any Balloon Payment is scheduled to be
due.
</TABLE>
B-8
<PAGE>
<TABLE>
<CAPTION>
ANNEX B
[LOGO] MERRILL LYNCH [LOGO] LEGG MASON CAPITAL MARKETS [LOGO] DAIWA MORTGAGE SECURITY NEW ISSUE TERM SHEET MARCH 25, 1998
- ------------------------------------------------------------------------------------------------------------------------------------
$571,781,000 (APPROXIMATE)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
(DEPOSITOR)
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
TOTAL POOL SIZE = $646,080,530 (105 LOANS / 142 PROPERTIES)
<S> <C>
REMOVAL OF THE The Pooling and Servicing Agreement permits the holder (or holders) or the majority of the Voting Rights
SPECIAL allocated to holders of the Controlling Class of Sequential Pay Certificates to replace the Special
SERVICER/CONTROLLING Servicer. The "Controlling Class of Sequential Pay Certificates" is the Class of Sequential Pay
CLASS REPRESENTATIVE: Certificates that has the latest alphabetical Class designation and that has a Certificate Balance that is
greater than 20% of its initial Certificate Balance (or if no Class of Sequential Pay Certificates has a
Certificate Balance that is greater than 20% of its initial Certificate Balance, the Class of Sequential
Pay Certificates with the latest alphabetical class designation). The Class A-1, Class A-2, and Class A-3
Certificates will be treated as one Class for determining the Controlling Class of Sequential Pay
Certificates.
APPRAISAL REDUCTION: Upon the earliest of the date (each such date, a "Required Appraisal Date") that (1) any Mortgage Loan is
sixty (60) days delinquent in respect of any Monthly Payment, (2) any REO Property is acquired on behalf of
the Trust Fund, (3) any Mortgage Loan has been modified by the Special Servicer to reduce the amount of any
Monthly Payment, other than a Balloon Payment, (4) a receiver is appointed and continues in such capacity
in respect of a Mortgaged Property securing any Mortgage Loan, (5) a borrower with respect to any Mortgage
Loan is subject to any bankruptcy proceeding or (6) a Balloon Payment with respect to any Mortgage Loan is
due and has not been paid on its scheduled maturity date (each such Mortgage Loan, including an REO
Mortgage Loan, a "Required Appraisal Loan"), the Special Servicer will be required to obtain (within 60
days of the applicable Required Appraisal Date) an appraisal of the related Mortgage Property, unless such
an appraisal had been previously obtained within the last twelve months.
As a result of any such appraisal, it may be determined that an "Appraisal Reduction Amount" exists with
respect to the related Required Appraisal Loan, such determination to be made upon the later of 30 days
after the Required Appraisal Date if no new appraisal is required or upon receipt of a new appraisal.
If any Required Appraisal Loan becomes a Corrected Mortgage Loan, then the Appraisal Reduction Amount shall
be deemed to be zero.
</TABLE>
B-9
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
- ------------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS A1
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $132,820,333
Next Payment: 4/15/98 Current Coupon: 6.310%
-------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
------------- -------------------------------------------------------------------------------
-------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
-------- ------------- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
98-16 6.70 3.97 6.71 3.97 6.71 3.97 6.71 3.97 6.71 3.97 6.71 3.97
98-20 6.67 6.67 6.67 6.67 6.67 6.68
98-24 6.64 6.64 6.64 6.64 6.64 6.64
98-28 6.61 6.61 6.61 6.61 6.61 6.61
99-00 6.58 3.98 6.58 3.98 6.58 3.98 6.58 3.98 6.58 3.98 6.58 3.98
99-04 6.55 6.55 6.55 6.55 6.55 6.55
99-08 6.52 6.52 6.52 6.52 6.52 6.52
99-12 6.48 6.48 6.48 6.48 6.49 6.49
99-16 6.45 3.99 6.45 3.99 6.45 3.99 6.45 3.99 6.45 3.99 6.45 3.99
99-20 6.42 6.42 6.42 6.42 6.42 6.42
99-24 6.39 6.39 6.39 6.39 6.39 6.39
99-28 6.36 6.36 6.36 6.36 6.36 6.36
100-00 6.33 4.00 6.33 4.00 6.33 4.00 6.33 4.00 6.33 4.00 6.33 4.00
100-04 6.30 6.30 6.30 6.30 6.30 6.30
100-08 6.27 6.27 6.27 6.27 6.27 6.27
100-12 6.24 6.24 6.24 6.24 6.24 6.24
100-16 6.20 4.01 6.20 4.01 6.20 4.01 6.20 4.01 6.21 4.01 6.21 4.01
100-20 6.17 6.17 6.17 6.17 6.17 6.18
100-24 6.14 6.14 6.14 6.14 6.14 6.14
100-28 6.11 6.11 6.11 6.11 6.11 6.11
101-00 6.08 4.02 6.08 4.02 6.08 4.02 6.08 4.02 6.08 4.02 6.08 4.02
101-04 6.05 6.05 6.05 6.05 6.05 6.05
101-08 6.02 6.02 6.02 6.02 6.02 6.02
101-12 5.99 5.99 5.99 5.99 5.99 5.99
101-16 5.96 4.03 5.96 4.03 5.96 4.03 5.96 4.03 5.96 4.03 5.96 4.03
WAL 5.0 5.0 5.0 5.0 5.0 5.0
1st Prin 4/15/98 4/15/98 4/15/98 4/15/98 4/15/98 4/15/98
Mat. 12/15/06 12/15/06 12/15/06 12/15/06 12/15/06 11/15/06
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-10
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS A2
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $82,098,000
Next Payment: 4/15/98 Current Coupon: 6.480%
--------------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
---------------- --------------------------------------------------------------------------------------------
------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
------- ---------------- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
98-16 6.74 7.08 6.74 7.07 6.75 7.06 6.75 7.06 6.75 7.04 6.76 7.01
98-20 6.72 6.73 6.73 6.73 6.73 6.74
98-24 6.71 6.71 6.71 6.71 6.71 6.72
98-28 6.69 6.69 6.69 6.69 6.70 6.70
99-00 6.67 7.09 6.67 7.08 6.67 7.07 6.68 7.07 6.68 7.05 6.68 7.02
99-04 6.65 6.66 6.66 6.66 6.66 6.67
99-08 6.64 6.64 6.64 6.64 6.64 6.65
99-12 6.62 6.62 6.62 6.62 6.63 6.63
99-16 6.60 7.10 6.60 7.09 6.60 7.08 6.61 7.08 6.61 7.06 6.61 7.03
99-20 6.58 6.58 6.59 6.59 6.59 6.59
99-24 6.57 6.57 6.57 6.57 6.57 6.58
99-28 6.55 6.55 6.55 6.55 6.55 6.56
100-00 6.53 7.11 6.53 7.10 6.53 7.09 6.53 7.09 6.54 7.07 6.54 7.04
100-04 6.51 6.51 6.52 6.52 6.52 6.52
100-08 6.50 6.50 6.50 6.50 6.50 6.51
100-12 6.48 6.48 6.48 6.48 6.48 6.49
100-16 6.46 7.12 6.46 7.11 6.46 7.10 6.46 7.10 6.47 7.08 6.47 7.05
100-20 6.44 6.44 6.45 6.45 6.45 6.45
100-24 6.43 6.43 6.43 6.43 6.43 6.44
100-28 6.41 6.41 6.41 6.41 6.41 6.42
101-00 6.39 7.13 6.39 7.12 6.39 7.11 6.40 7.11 6.40 7.09 6.40 7.06
101-04 6.37 6.38 6.38 6.38 6.38 6.38
101-08 6.36 6.36 6.36 6.36 6.36 6.37
101-12 6.34 6.34 6.34 6.34 6.35 6.35
101-16 6.32 7.14 6.32 7.13 6.32 7.12 6.33 7.12 6.33 7.10 6.33 7.07
WAL 10.0 10.0 9.9 9.9 9.9 9.8
1st Prin 12/15/06 12/15/06 12/15/06 12/15/06 12/15/06 11/15/06
Mat. 6/15/09 6/15/09 6/15/09 6/15/09 6/15/09 6/15/09
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-11
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS A3
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $235,868,000
Next Payment: 4/15/98 Current Coupon: 6.720%
----------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
--------------- ----------------------------------------------------------------------------------------
------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
------- --------------- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
98-16 6.95 8.95 6.95 8.95 6.95 8.95 6.95 8.94 6.95 8.94 6.95 8.93
98-20 6.94 6.94 6.94 6.94 6.94 6.94
98-24 6.92 6.92 6.92 6.92 6.92 6.92
98-28 6.91 6.91 6.91 6.91 6.91 6.91
99-00 6.89 8.97 6.90 8.97 6.90 8.96 6.90 8.96 6.90 8.96 6.90 8.95
99-04 6.88 6.88 6.88 6.88 6.88 6.88
99-08 6.87 6.87 6.87 6.87 6.87 6.87
99-12 6.85 6.85 6.85 6.85 6.85 6.85
99-16 6.84 8.99 6.84 8.99 6.84 8.98 6.84 8.98 6.84 8.97 6.84 8.97
99-20 6.83 6.83 6.83 6.83 6.83 6.83
99-24 6.81 6.81 6.81 6.81 6.81 6.81
99-28 6.80 6.80 6.80 6.80 6.80 6.80
100-00 6.78 9.01 6.78 9.00 6.78 9.00 6.78 9.00 6.78 8.99 6.79 8.98
100-04 6.77 6.77 6.77 6.77 6.77 6.77
100-08 6.76 6.76 6.76 6.76 6.76 6.76
100-12 6.74 6.74 6.74 6.74 6.74 6.74
100-16 6.73 9.02 6.73 9.02 6.73 9.02 6.73 9.01 6.73 9.01 6.73 9.00
100-20 6.72 6.72 6.72 6.72 6.72 6.72
100-24 6.70 6.70 6.70 6.70 6.70 6.70
100-28 6.69 6.69 6.69 6.69 6.69 6.69
101-00 6.67 9.04 6.67 9.04 6.67 9.03 6.67 9.03 6.67 9.02 6.68 9.02
101-04 6.66 6.66 6.66 6.66 6.66 6.66
101-08 6.65 6.65 6.65 6.65 6.65 6.65
101-12 6.63 6.63 6.63 6.63 6.63 6.63
101-16 6.62 9.06 6.62 9.05 6.62 9.05 6.62 9.05 6.62 9.04 6.62 9.03
WAL 14.7 14.7 14.7 14.7 14.7 14.6
1st Prin 6/15/09 6/15/09 6/15/09 6/15/09 6/15/09 6/15/09
Mat. 1/15/16 1/15/16 1/15/16 1/15/16 1/15/16 1/15/16
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-12
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS A-PO
BOND TYPE - PRINCIPAL ONLY
Settlement Date: 3/31/98 Current Balance: $1,469,667
Next Payment: 4/15/98 Current Coupon: 0.000%
--------------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
--------------- --------------------------------------------------------------------------------------------
------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
------- --------------- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
38-05 7.87 10.44 7.87 10.44 7.87 10.44 7.87 10.44 7.87 10.44 7.87 10.44
38-09 7.84 7.84 7.84 7.84 7.84 7.84
38-13 7.81 7.81 7.81 7.81 7.81 7.81
38-17 7.78 7.78 7.78 7.78 7.78 7.78
38-21 7.75 10.50 7.75 10.50 7.75 10.50 7.75 10.50 7.75 10.50 7.75 10.50
38-25 7.71 7.71 7.71 7.71 7.71 7.71
38-29 7.68 7.68 7.68 7.68 7.68 7.68
39-01 7.65 7.65 7.65 7.65 7.65 7.65
39-05 7.62 10.55 7.62 10.55 7.62 10.55 7.62 10.55 7.62 10.55 7.62 10.55
39-09 7.59 7.59 7.59 7.59 7.59 7.59
39-13 7.56 7.56 7.56 7.56 7.56 7.56
39-17 7.53 7.53 7.53 7.53 7.53 7.53
39-21 7.50 10.61 7.50 10.61 7.50 10.61 7.50 10.61 7.50 10.61 7.50 10.61
39-25 7.47 7.47 7.47 7.47 7.47 7.47
39-29 7.44 7.44 7.44 7.44 7.44 7.44
40-01 7.41 7.41 7.41 7.41 7.41 7.41
40-05 7.39 10.66 7.39 10.66 7.39 10.66 7.39 10.66 7.39 10.66 7.39 10.66
40-09 7.36 7.36 7.36 7.36 7.36 7.36
40-13 7.33 7.33 7.33 7.33 7.33 7.33
40-17 7.30 7.30 7.30 7.30 7.30 7.30
40-21 7.27 10.71 7.27 10.71 7.27 10.71 7.27 10.71 7.27 10.71 7.27 10.71
40-25 7.24 7.24 7.24 7.24 7.24 7.24
40-29 7.21 7.21 7.21 7.21 7.21 7.21
41-01 7.18 7.18 7.18 7.18 7.18 7.18
41-05 7.16 10.76 7.16 10.76 7.16 10.76 7.16 10.76 7.16 10.76 7.16 10.76
WAL 14.1 14.1 14.1 14.1 14.1 14.1
1st Prin 4/15/98 4/15/98 4/15/98 4/15/98 4/15/98 4/15/98
Mat. 2/15/20 2/15/20 2/15/20 2/15/20 2/15/20 2/15/20
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-13
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS B
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $38,765,000
Next Payment: 4/15/98 Current Coupon: 6.750%
--------------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
---------------- --------------------------------------------------------------------------------------------
-------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
-------- ---------------- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
96-11 7.19 10.01 7.19 10.01 7.19 10.00 7.19 10.00 7.19 10.00 7.19 10.00
96-15 7.17 7.17 7.17 7.17 7.17 7.17
96-19 7.16 7.16 7.16 7.16 7.16 7.16
96-23 7.15 7.15 7.15 7.15 7.15 7.15
96-27 7.13 10.03 7.13 10.03 7.13 10.03 7.13 10.03 7.13 10.02 7.13 10.02
96-31 7.12 7.12 7.12 7.12 7.12 7.12
97-03 7.11 7.11 7.11 7.11 7.11 7.11
97-07 7.10 7.10 7.10 7.10 7.10 7.10
97-11 7.08 10.05 7.08 10.05 7.08 10.05 7.08 10.05 7.08 10.05 7.08 10.04
97-15 7.07 7.07 7.07 7.07 7.07 7.07
97-19 7.06 7.06 7.06 7.06 7.06 7.06
97-23 7.04 7.04 7.05 7.05 7.05 7.05
97-27 7.03 10.08 7.03 10.07 7.03 10.07 7.03 10.07 7.03 10.07 7.03 10.06
97-31 7.02 7.02 7.02 7.02 7.02 7.02
98-03 7.01 7.01 7.01 7.01 7.01 7.01
98-07 6.99 6.99 6.99 6.99 6.99 6.99
98-11 6.98 10.10 6.98 10.10 6.98 10.10 6.98 10.09 6.98 10.09 6.98 10.09
98-15 6.97 6.97 6.97 6.97 6.97 6.97
98-19 6.96 6.96 6.96 6.96 6.96 6.96
98-23 6.94 6.94 6.94 6.94 6.94 6.94
98-27 6.93 10.12 6.93 10.12 6.93 10.12 6.93 10.12 6.93 10.11 6.93 10.11
98-31 6.92 6.92 6.92 6.92 6.92 6.92
99-03 6.91 6.91 6.91 6.91 6.91 6.91
99-07 6.89 6.90 6.90 6.90 6.90 6.90
99-11 6.88 10.14 6.88 10.14 6.88 10.14 6.88 10.14 6.88 10.14 6.88 10.13
WAL 18.3 18.2 18.2 18.2 18.2 18.2
1st Prin 1/15/16 1/15/16 1/15/16 1/15/16 1/15/16 1/15/16
Mat. 12/15/16 12/15/16 12/15/16 12/15/16 11/15/16 11/15/16
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-14
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS C
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $32,304,000
Next Payment: 4/15/98 Current Coupon: 6.750%
------------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
---------------- ------------------------------------------------------------------------------------------
------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
------- ---------------- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
94-25 7.34 10.15 7.34 10.15 7.34 10.14 7.34 10.14 7.34 10.14 7.34 10.14
94-29 7.32 7.32 7.32 7.32 7.33 7.33
95-01 7.31 7.31 7.31 7.31 7.31 7.31
95-05 7.30 7.30 7.30 7.30 7.30 7.30
95-09 7.29 10.17 7.29 10.17 7.29 10.17 7.29 10.17 7.29 10.17 7.29 10.16
95-13 7.27 7.27 7.27 7.27 7.27 7.27
95-17 7.26 7.26 7.26 7.26 7.26 7.26
95-21 7.25 7.25 7.25 7.25 7.25 7.25
95-25 7.23 10.20 7.23 10.20 7.24 10.19 7.24 10.19 7.24 10.19 7.24 10.19
95-29 7.22 7.22 7.22 7.22 7.22 7.22
96-01 7.21 7.21 7.21 7.21 7.21 7.21
96-05 7.20 7.20 7.20 7.20 7.20 7.20
96-09 7.18 10.22 7.18 10.22 7.18 10.22 7.18 10.22 7.18 10.21 7.18 10.21
96-13 7.17 7.17 7.17 7.17 7.17 7.17
96-17 7.16 7.16 7.16 7.16 7.16 7.16
96-21 7.15 7.15 7.15 7.15 7.15 7.15
96-25 7.13 10.25 7.13 10.25 7.13 10.24 7.13 10.24 7.13 10.24 7.13 10.24
96-29 7.12 7.12 7.12 7.12 7.12 7.12
97-01 7.11 7.11 7.11 7.11 7.11 7.11
97-05 7.10 7.10 7.10 7.10 7.10 7.10
97-09 7.08 10.27 7.08 10.27 7.08 10.27 7.08 10.27 7.08 10.26 7.08 10.26
97-13 7.07 7.07 7.07 7.07 7.07 7.07
97-17 7.06 7.06 7.06 7.06 7.06 7.06
97-21 7.05 7.05 7.05 7.05 7.05 7.05
97-25 7.03 10.30 7.03 10.29 7.03 10.29 7.03 10.29 7.03 10.29 7.03 10.28
WAL 19.1 19.1 19.1 19.1 19.1 19.0
1st Prin 12/15/16 12/15/16 12/15/16 12/15/16 11/15/16 11/15/16
Mat. 9/15/17 9/15/17 9/15/17 9/15/17 9/15/17 9/15/17
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-15
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS D
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $38,765,000
Next Payment: 4/15/98 Current Coupon: 6.750%
-------------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
--------------- -------------------------------------------------------------------------------------------
------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
------- --------------- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
89-28 7.85 10.06 7.85 10.06 7.85 10.06 7.85 10.05 7.85 10.05 7.85 10.05
90-00 7.83 7.83 7.83 7.83 7.83 7.83
90-04 7.82 7.82 7.82 7.82 7.82 7.82
90-08 7.81 7.81 7.81 7.81 7.81 7.81
90-12 7.79 10.09 7.79 10.08 7.79 10.08 7.79 10.08 7.79 10.08 7.79 10.08
90-16 7.78 7.78 7.78 7.78 7.78 7.78
90-20 7.77 7.77 7.77 7.77 7.77 7.77
90-24 7.75 7.75 7.75 7.75 7.75 7.75
90-28 7.74 10.11 7.74 10.11 7.74 10.11 7.74 10.11 7.74 10.11 7.74 10.11
91-00 7.72 7.72 7.73 7.73 7.73 7.73
91-04 7.71 7.71 7.71 7.71 7.71 7.71
91-08 7.70 7.70 7.70 7.70 7.70 7.70
91-12 7.68 10.14 7.68 10.14 7.68 10.14 7.68 10.14 7.68 10.14 7.68 10.13
91-16 7.67 7.67 7.67 7.67 7.67 7.67
91-20 7.66 7.66 7.66 7.66 7.66 7.66
91-24 7.64 7.64 7.64 7.64 7.64 7.64
91-28 7.63 10.17 7.63 10.17 7.63 10.17 7.63 10.17 7.63 10.16 7.63 10.16
92-00 7.62 7.62 7.62 7.62 7.62 7.62
92-04 7.60 7.60 7.60 7.60 7.60 7.60
92-08 7.59 7.59 7.59 7.59 7.59 7.59
92-12 7.58 10.20 7.58 10.19 7.58 10.19 7.58 10.19 7.58 10.19 7.58 10.19
92-16 7.56 7.56 7.57 7.57 7.57 7.57
92-20 7.55 7.55 7.55 7.55 7.55 7.55
92-24 7.54 7.54 7.54 7.54 7.54 7.54
92-28 7.53 10.22 7.53 10.22 7.53 10.22 7.53 10.22 7.53 10.22 7.53 10.22
WAL 19.8 19.8 19.8 19.8 19.8 19.8
1st Prin 9/15/17 9/15/17 9/15/17 9/15/17 9/15/17 9/15/17
Mat. 7/15/18 6/15/18 6/15/18 6/15/18 6/15/18 6/15/18
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-16
<PAGE>
<TABLE>
<CAPTION>
COMPUTATIONAL MATERIALS
MERRILL LYNCH MORTGAGE INVESTORS, INC. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C1-CTL
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE/YIELD TO MATURITY TABLE
BOND SENSITIVITIES
CLASS E
BOND TYPE - FIXED
Settlement Date: 3/31/98 Current Balance: $9,691,000
Next Payment: 4/15/98 Current Coupon: 6.750%
-----------------------------------------------------------------------------------------------
*0% CPR While Subject to Lockout or Yield Maintenance Premium;
Otherwise at Indicated CPR Percentage
-------------- -----------------------------------------------------------------------------------------------
------- 0.00 CPR 5.00 CPR 10.00 CPR 15.00 CPR 25.00 CPR 50.00 CPR
Price Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur Yield Dur
------- -------------- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
86-18 8.20 9.99 8.20 9.99 8.20 9.99 8.20 9.99 8.20 9.99 8.20 9.99
86-22 8.19 8.19 8.19 8.19 8.19 8.19
86-26 8.17 8.18 8.18 8.18 8.18 8.18
86-30 8.16 8.16 8.16 8.16 8.16 8.16
87-02 8.15 10.02 8.15 10.02 8.15 10.02 8.15 10.02 8.15 10.02 8.15 10.02
87-06 8.13 8.13 8.13 8.13 8.13 8.13
87-10 8.12 8.12 8.12 8.12 8.12 8.12
87-14 8.10 8.10 8.10 8.10 8.10 8.10
87-18 8.09 10.05 8.09 10.05 8.09 10.05 8.09 10.05 8.09 10.05 8.09 10.05
87-22 8.08 8.08 8.08 8.08 8.08 8.08
87-26 8.06 8.06 8.06 8.06 8.06 8.06
87-30 8.05 8.05 8.05 8.05 8.05 8.05
88-02 8.03 10.08 8.03 10.08 8.03 10.08 8.03 10.08 8.03 10.08 8.03 10.08
88-06 8.02 8.02 8.02 8.02 8.02 8.02
88-10 8.01 8.01 8.01 8.01 8.01 8.01
88-14 7.99 7.99 7.99 7.99 7.99 7.99
88-18 7.98 10.11 7.98 10.11 7.98 10.11 7.98 10.11 7.98 10.11 7.98 10.11
88-22 7.96 7.96 7.96 7.96 7.96 7.96
88-26 7.95 7.95 7.95 7.95 7.95 7.95
88-30 7.94 7.94 7.94 7.94 7.94 7.94
89-02 7.92 10.14 7.92 10.14 7.92 10.14 7.92 10.14 7.92 10.14 7.92 10.13
89-06 7.91 7.91 7.91 7.91 7.91 7.91
89-10 7.89 7.90 7.90 7.90 7.90 7.90
89-14 7.88 7.88 7.88 7.88 7.88 7.88
89-18 7.87 10.17 7.87 10.17 7.87 10.17 7.87 10.17 7.87 10.17 7.87 10.16
WAL 20.4 20.4 20.4 20.4 20.4 20.4
1st Prin 7/15/18 6/15/18 6/15/18 6/15/18 6/15/18 6/15/18
Mat. 10/15/18 9/15/18 9/15/18 9/15/18 9/15/18 9/15/18
- --------------------------------------------------------------------------------
* Assumes required application of prepayment penalties allocated to bondholders
- --------------------------------------------------------------------------------
These tables have been based upon the assumptions described above. These assumptions will most likely not represent the actual
experience of the Mortgage Pool in the future.
The tables are intended to illustrate variations in yield on the Offered Securities under such assumptions.
No representation is made herein as to the actual rate or timing of principal payments on any of the underlying Mortgage Loans in
the Mortgage Pool or the performance characteristics of the Offered Securities.
</TABLE>
B-17
<PAGE>
[THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
DISTRIBUTION DATE STATEMENT
Table of Contents
================================================================================
STATEMENT SECTIONS PAGE(s)
- ------------------ -------
Certificate Distribution Detail 2
Certificate Factor Detail 3
Reconciliation Detail 4
Other Required Information 5
Ratings Detail 6
Current Mortgage Loan and Property Stratification Tables 7-9
Mortgage Loan Detail 10
Principal Prepayment Detail 11
Historical Detail 12
Delinquency Loan Detail 13
Specially Serviced Loan Detail 14-15
Modified Loan Detail 16
Liquidated Loan Detail 17
================================================================================
Underwriter
================================================================================
Merrill Lynch, Pierce, Fenner & Smith Inc.
World Financial Center, North Tower
250 Vesey Street
New York, NY 10281
Contact:
Phone Number:
================================================================================
Servicer
================================================================================
GMAC Commercial Mortgage Corporation
650 Dresher Road
Horsham, Pennsylvania 10944-8015
Contact: Coral I. Horstmeyer
Phone Number: (215) 328-1790
================================================================================
Special Servicer
================================================================================
GMAC Commercial Mortgage Corporation
650 Dresher Road
Horsham, Pennsylvania 10944-8015
Contact: Coral I. Horstmeyer
Phone Number: (215) 328-1790
==============================================================================
This report has been compiled from information provided to Norwest by various
third parties, which may include the Servicer, Master Servicer, Special Servicer
and others. Norwest has not independently confirmed the accuracy of information
received from these third parties and assumes no duty to do so. Norwest
expressly disclaims any responsibility for the accuracy or completeness of
information furnished by third parties.
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 1 of 17
C-1
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
CERTIFICATE DISTRIBUTION DETAIL
<TABLE>
<CAPTION>
===================================================================================================================================
Realized Loss/
Class/ Pass-Through Original Beginning Principal Interest Prepayment Additional Trust Total Ending
Component CUSIP Rate Balance Balance Distribution Distribution Premium Fund Expenses Distribution Balance
===================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-2 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-3 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-PO 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
C 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
D 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
E 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
F 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
H 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
K 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-I 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-II 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-III 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
===================================================================================================================================
Totals 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
===================================================================================================================================
<CAPTION>
============================
Current
Class/ Subordination
Component Level(1)
============================
<S> <C>
A-1 0.00%
A-2 0.00%
A-3 0.00%
A-PO 0.00%
B 0.00%
C 0.00%
D 0.00%
E 0.00%
F 0.00%
H 0.00%
K 0.00%
R-I 0.00%
R-II 0.00%
R-III 0.00%
============================
Totals
============================
</TABLE>
<TABLE>
<CAPTION>
====================================================================================================
Original Beginning Ending
Pass-Through Notional Notional Interest Prepayment Total Notional
Class CUSIP Rate Amount Amount Distribution Premium Distribution Amount
====================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
IO 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00
====================================================================================================
</TABLE>
(1) Calculated by taking (A) the sum of the ending certificate balance of all
classes less (B) the sum of (i) the ending certificate balance of the designated
class and (ii) the ending certificate balance of all classes which are not
subordinate to the designated class and dividing the result by (A).
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 2 of 17
C-2
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
CERTIFICATE FACTOR DETAIL
<TABLE>
<CAPTION>
=======================================================================================================
Realized Loss/
Class/ Beginning Principal Interest Prepayment Additional Ending
Component CUSIP Balance Distribution Distribution Premium Fund Expenses Balance
========================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-PO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
D 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
E 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
F 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
G 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
H 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
K 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
========================================================================================================
</TABLE>
=================================================================
Beginning Ending
Notional Interest Prepayment Notional
Class CUSIP Amount Distribution Premium Amount
=================================================================
IO 0.00000000 0.00000000 0.00000000 0.00000000
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 3 of 17
C-3
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
RECONCILIATION DETAIL
ADVANCE SUMMARY
P & I Advances Outstanding 0.00
Servicing Advances Outstanding 0.00
Reimbursement for Interest on P&I 0.00
Advances paid from general collections
Reimbursement for Interest on Servicing 0.00
Advances paid from general collections
MASTER SERVICING FEE SUMMARY
Current Period Accrued Master Servicing Fees 0.00
Less Master Servicing Fees on Delinquent Payments 0.00
Less Reductions to Master Servicing Fees 0.00
Plus Master Servicing Fees for Delinquent Payments Received 0.00
Plus Adjustments for Prior Master Servicing Calculation 0.00
Total Master Servicing Fees Collected 0.00
CERTIFICATE INTEREST RECONCILIATION
<TABLE>
<CAPTION>
=============================================================================================================================
Accrued Net Aggregate Distributable Distributable Additional Remaining Unpaid
Certificate Prepayment Certificate Certificate Interest Trust Fund Interest Distributable
Class Interest Interest Shortfall Interest Adjustment Expenses Distribution Certificate Interest
=============================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1
A-2
A-3
IO
B
C
D
E
F
G
H
K
=============================================================================================================================
Total
=============================================================================================================================
</TABLE>
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 4 of 17
C-4
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
OTHER REQUIRED INFORMATION
- --------------------------------------------------------------------------------
Available Distribution Amount 0.00
Aggregate Number of Outstanding Loans 0
Aggregate Unpaid Principal Balance of Loans 0.00
Aggregate Stated Principal Balance of Loans 0.00
Aggregate Amount of Servicing Fee 0.00
Aggregate Amount of Special Servicing Fee 0.00
Aggregate Amount of Trustee Fee 0.00
Aggregate Trust Fund Expenses 0.00
Specially Serviced Loans not Delinquent
Number of Outstanding Loans 0
Aggregate Unpaid Principal Balance 0.00
- --------------------------------------------------------------------------------
Appraisal Reduction Amount
=================================================
Appraisal Date Appraisal
Loan Reduction Reduction
Number Amount Effected
=================================================
=================================================
TOTAL
=================================================
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 5 of 17
C-5
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
RATINGS DETAIL
================================================================================
Original Ratings Current Ratings (1)
------------------------------------------------------------
Class CUSIP DCR Fitch Moody's S & P DCR Fitch Moody's S & P
================================================================================
A-1
A-2
A-3
A-PO
IO
B
C
D
E
F
G
H
K
================================================================================
NR - Designates that the class was not rated by the above agency at the time
of original issuance.
X - Designates that the above rating agency did not rate any classes in this
transaction at the time of original issuance.
N/A - Data not available this period.
1) For any class not rated at the time of original issuance by any particular
rating agency, no request has been made subsequent to issuance to obtain rating
information, if any, from such rating agency. The current ratings were obtained
directly from the applicable rating agency within 30 days of the payment date
listed above. The ratings may have changed since they were obtained. Because the
ratings may have changed, you may want to obtain current ratings directly from
the rating agencies.
Duff & Phelps Credit Rating Co.
55 East Monroe Street
Chicago, Illinois 60603
(312) 368-3100
Fitch IBCA, Inc.
One State Street Plaza
New York, New York 10004
(212) 908-0500
Moody's Investors Service
99 Church Street
New York, New York 10007
(212) 553-0300
Standard & Poor's Rating Services
26 Broadway
New York, New York 10004
(212) 208-8000
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 6 of 17
C-6
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
CURRENT MORTGAGE LOAN AND PROPERTY STRATIFICATION TABLES
SCHEDULED BALANCE
================================================================================
% of
Scheduled # of Scheduled Agg. WAM Weighted
Balance Loans Balance Bal. (2) WAC Avg DSCR (1)
================================================================================
================================================================================
Totals
================================================================================
STATE (3)
================================================================================
% of
# of Scheduled Agg. WAM Weighted
State Props. Balance Bal. (2) WAC Avg DSCR (1)
================================================================================
================================================================================
Totals
================================================================================
See footnotes on last page of this section.
================================================================================
Copyright 1997, Norwest Bank Minnesota, N. A. Page 7 of 17
C-7
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
CURRENT MORTGAGE LOAN AND PROPERTY STRATIFICATION TABLES
NOTE RATE
================================================================================
Note # of Scheduled % of WAM Weighted
Rate Loans Balance Agg (2) WAC Avg DSCR (1)
Bal.
================================================================================
================================================================================
Totals
================================================================================
PROPERTY TYPE (3)
================================================================================
Property # of Scheduled % of WAM Weighted
Type Props. Balance Agg (2) WAC Avg DSCR (1)
Bal.
================================================================================
================================================================================
Totals
================================================================================
SEASONING
================================================================================
# of Scheduled % of WAM Weighted
Seasoning Loans Balance Agg (2) WAC Avg DSCR (1)
Bal.
================================================================================
================================================================================
Totals
================================================================================
See footnotes on last page of this section.
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 8 of 17
C-8
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
CURRENT MORTGAGE LOAN AND PROPERTY STRATIFICATION TABLES
ANTICIPATED REMAINING TERM (ARD AND BALLOON LOANS)
================================================================================
Anticipated # of Scheduled % of WAM Weighted
Remaining Loans Balance Agg. (2) WAC Avg DSCR (1)
Term(2) Bal.
================================================================================
================================================================================
Totals
================================================================================
REMAINING AMORTIZATION TERM (ARD AND BALLOON LOANS)
================================================================================
Remaining # of Scheduled % of WAM Weighted
Amortization Loans Balance Agg. (2) WAC Avg DSCR (1)
Term Bal.
================================================================================
================================================================================
Totals
================================================================================
REMAINING STATED TERM (FULLY AMORTIZING LOANS)
================================================================================
Remaining # of Scheduled % of WAM Weighted
Stated Loans Balance Agg. (2) WAC Avg DSCR (1)
Term Bal.
================================================================================
================================================================================
Totals
================================================================================
(1) Debt Service Coverage Ratios are calculated as described in the prospectus,
values are updated periodically as new NOI figures become available from
borrowers on an asset level. The Trustee makes no representations as to the
accuracy of the data provided by the borrower for this calculation. "NAP" means
not applicable and relates to the omission of credit lease loans in the
calculation of DSCR.
(2) Anticipated Remaining Term and WAM are each calculated based upon the term
from the current month to the earlier of the Anticipated Repayment Date, if
applicable, and the maturity date.
(3) Data in this table was calculated by allocating pro-rata the current loan
information to the properties based upon the Cut-off Date balance of each
property as disclosed in the offering document.
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 9 of 17
C-9
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Mortgage Loan Detail
<TABLE>
<CAPTION>
====================================================================================================================================
Anticipated Neg. Beginning Ending Paid Appraisal
Loan ODCR Property City State Interest Principal Gross Repayment Maturity Amort Scheduled Scheduled Thru Reduction
Number Type (1) Payment Payment Coupon Date Date (Y/N) Balance Balance Date Date
====================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
====================================================================================================================================
Totals
====================================================================================================================================
</TABLE>
===============================
Appraisal Res. Mod.
Loan Reduction Strat. Code
Number Amount (2) (3)
===============================
===============================
Totals
===============================
(1) Property Type Code (2) Resolution Strategy Code (3) Modification Code
MF - Multi- Family 1 - Modification 1 - Maturity Date Extension
RT - Retail 2 - Foreclosure 2 - Amortization Change
HC - Health Care 3 - Bankruptcy 3 - Principal Write-Off
IN - Industrial 4 - Extension 4 - Combination
WH - Warehouse 5 - Note Sale
MH - Mobile Home Park 6 - DPO
OF - Office 7 - REO
MU - Mixed Use 8 - Resolved
LO - Lodging 9 - Pending Return
SS - Self Storage to Master Servicer
OT - Other 10 - Deed In Lieu Of
Foreclosure
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 10 of 17
C-10
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Principal Prepayment Detail
<TABLE>
<CAPTION>
===============================================================================================================
Principal Prepayment Amount Prepayment Premium
Offering Document --------------------------------- --------------------------------------------
Loan Number Cross-Reference Payoff Amount Curtailment Amount Precentage Premium Yield Maintenance Charge
===============================================================================================================
<S> <C> <C> <C> <C> <C>
===============================================================================================================
Totals
===============================================================================================================
</TABLE>
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 11 of 17
C-11
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Historical Detail
<TABLE>
<CAPTION>
====================================================================================================================================
Delinquencies Prepayments Rate and Maturities
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution 30-59 Days 60-89 Days 90 Days or More Foreclosure REO Modifications Curtailments Payoff Next Weighted Avg.
Date # Balance # Balance # Balance # Balance # Balance # Balance # Amount # Amount Coupon Remit WAM
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
====================================================================================================================================
</TABLE>
Note: Foreclosure and REO Totals are excluded from the delinquencies aging
categories.
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 12 of 17
C-12
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Delinquency Loan Detail
<TABLE>
<CAPTION>
=============================================================================================================================
Offering # of Current Outstanding Status of Resolution
Document Months Paid Through P & I P & I Mortgage Strategy Servicing Foreclosure
Loan Number Cross-Reference Delinq. Date Advances Advances ** Loan (1) Code (2) Transfer Date Date
=============================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
=============================================================================================================================
Totals
=============================================================================================================================
</TABLE>
Delinquency Loan Detail
==========================================================
Current Outstanding
Servicing Servicing REO
Loan Number Advances Advances Bankruptcy Date Date
==========================================================
==========================================================
Totals
==========================================================
(1) Status of Mortgage Loan (2) Resolution Strategy Code
--------------------------- ----------------------------
A - Payment Not Received 1 - Modification
But Still in Grace Period 2 - Foreclosure
B - Late Payment But Less 3 - Bankruptcy
Than 1 Month Delinquent 4 - Extension
0 - Current 5 - Note Sale
1 - One Month Delinquent 6 - DPO
2 - Two Months Delinquent 7 - REO
3 - Three Or More Months Delinquent 8 - Resolved
4 - Assumed Scheduled Payment 9 - Pending Return
(Performing Matured Balloon) to Master Servicer
7 - Foreclosure 10- Deed In Lieu Of
9 - REO Foreclosure
** Outstanding P & I Advances include the current period advance
===============================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 13 of 17
C-13
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
SPECIALLY SERVICED LOAN DETAIL - PART 1
<TABLE>
<CAPTION>
====================================================================================================================================
Offering Servicing Resolution Net
Distribution Loan Document Transfer Strategy Scheduled Property State Interest Actual Operating NOI
Date Number Cross-Reference Date Code (1) Balance Type (2) Rate Balance Income Date
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
====================================================================================================================================
</TABLE>
=================================
Note Maturity Remaining
DSCR Date Date Amortization
Term
=================================
(1) Resolution Strategy Code (2) Property Type Code
1 - Modification MF - Multi-Family
2 - Foreclosure RT - Retail
3 - Bankruptcy HC - Health Care
4 - Extension IN - Industrial
5 - Note Sale WH - Warehouse
6 - DPO MH - Mobile Home Park
7 - REO OF - Office
8 - Resolved MU - Mixed Use
9 - Pending Return LO - Lodging
to Master Servicer SS - Self Storage
10 - Deed In Lieu Of OT - Other
Foreclosure
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 14 of 17
C-14
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Specially Serviced Loan Detail - Part 2
<TABLE>
<CAPTION>
===================================================================================================================================
Offering Resolution Site
Distribution Loan Document Strategy Inspection Appraisal Appraisal Other REO
Date Number Cross-Reference Code (1) Date Phase 1 Date Date Value Property Revenue Comment
===================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
===================================================================================================================================
</TABLE>
(1) Resolution Strategy Code
1 - Modification
2 - Foreclosure
3 - Bankruptcy
4 - Extension
5 - Note Sale
6 - DPO
7 - REO
8 - Resolved
9 - Pending Return
to Master Servicer
10 - Deed In Lieu Of
Foreclosure
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 15 of 17
C-15
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Modified Loan Detail
================================================================================
Offering
Loan Document Pre-Modification Modification
Number Cross-Reference Balance Modification Date Description
================================================================================
================================================================================
Total
================================================================================
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 16 of 17
C-16
<PAGE>
MERRILL LYNCH MORTGAGE INVESTORS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-C1-CTL
[LOGO] NORWEST BANKS(R) For Additional Information, please contact
NORWEST BANK MINNESOTA, N.A. Leslie Gaskill
CORPORATE TRUST SERVICES (212) 509-1630
3 NEW YORK PLAZA, 15TH FLOOR Reports Available on the World Wide Web
NEW YORK, NY 10004 @ www.securitieslink.net/cmbs
PAYMENT DATE: 4/16/98
RECORD DATE: 3/31/98
================================================================================
Liquidated Loan Detail
<TABLE>
<CAPTION>
===========================================================================================================
Final Recovery Offering Gross Proceeds
Loan Determination Document Appraisal Appraisal Actual Gross as a % of
Number Date Cross-Reference Date Value Balance Proceeds Actual Balance
===========================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
===========================================================================================================
Current Total
===========================================================================================================
Cumulative Total
===========================================================================================================
<CAPTION>
=====================================================================
Aggregate Net Net Proceeds Repurchased
Liquidation Liquidation as a % of Realized by Seller
Expenses* Proceeds Actual Balance Loss (Y/N)
=====================================================================
<S> <C> <C> <C> <C>
=====================================================================
Current Total
=====================================================================
Cumulative Total
=====================================================================
</TABLE>
* Aggregate liquidation expenses also include outstanding P & I advances and
unpaid fees (servicing, trustee, etc.).
================================================================================
Copyright 1997, Norwest Bank Minnesota, N.A. Page 17 of 17
C-17
<PAGE>
[THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
The information contained in Annex A is contained on an attached diskette. The
information set forth below as Annex D is also contained on such diskette.
DISCLAIMER
Prospective investors are advised to read carefully, and should rely solely on,
the final prospectus and prospectus supplement (the "Final Prospectus") relating
to the Certificates referred to below in making their investment decision.
This diskette accompanies and is a part of the Final Prospectus Supplement
dated March 25, 1998 to the Prospectus dated February 25, 1998 (collectively,
the "Final Prospectus") relating to the Series 1998-C1-CTL Mortgage
Pass-Through Certificates (the "Certificates"). The information set forth on
this diskette is an electronic copy of the tables entitled "Mortgage Loan Cash
flows". This diskette should be reviewed only in conjunction with the entire
Final Prospectus. This diskette does not contain all relevant information
relating to the Certificates, particularly with respect to the structure of the
underlying trust fund and the risks and special considerations associated with
an investment in the Certificates. Such information is described elsewhere in
the Final Prospectus.
Any information contained on this diskette will be more fully described
elsewhere in the Final Prospectus, and such information will be fully
superseded by the information set forth in the Final Prospectus.
The information on this diskette should not be viewed as projections, forecasts,
predictions or opinions with respect to value.
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."
Page 1
AGGREGATE
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
AGGREGATE SCHEDULES
<TABLE>
<CAPTION>
BALANCE CASHFLOW PRINCIPAL INTEREST
------- -------- --------- --------
<S> <C> <C> <C> <C>
Mar-98 646,080,530.14
Apr-98 645,325,192.55 4,787,581.01 755,337.59 4,032,243.42
May-98 644,613,488.06 4,739,165.49 711,704.44 4,027,461.05
Jun-98 643,897,251.78 4,739,165.49 716,236.33 4,022,929.16
Jul-98 643,110,370.16 4,805,249.72 786,881.63 4,018,368.09
Aug-98 642,384,982.30 4,738,773.05 725,387.86 4,013,385.19
Sep-98 641,654,974.51 4,738,773.05 730,007.79 4,008,765.26
Oct-98 640,790,321.02 4,868,769.05 864,653.47 4,004,115.58
Nov-98 639,987,892.01 4,801,108.06 802,429.03 3,998,679.03
Dec-98 639,178,231.98 4,803,269.67 809,659.91 3,993,609.76
Jan-99 638,294,998.65 4,871,729.54 883,233.49 3,988,496.05
Feb-99 637,475,078.77 4,802,863.11 819,919.81 3,982,943.30
Mar-99 636,650,133.01 4,802,709.87 824,945.64 3,977,764.23
Apr-99 635,750,350.02 4,872,336.10 899,782.95 3,972,553.15
May-99 634,915,002.73 4,802,242.70 835,347.34 3,966,895.36
Jun-99 634,074,377.98 4,802,242.70 840,624.81 3,961,617.89
Jul-99 633,132,586.05 4,898,098.71 941,791.86 3,956,306.85
Aug-99 632,256,221.88 4,826,756.47 876,364.23 3,950,392.24
Sep-99 630,132,566.71 6,068,518.97 2,123,655.13 3,944,863.84
Oct-99 629,172,960.37 4,891,776.74 959,606.30 3,932,170.44
Nov-99 628,279,939.87 4,819,163.37 893,020.55 3,926,142.82
Dec-99 627,275,137.66 4,925,310.46 1,004,802.21 3,920,508.25
Jan-00 626,297,341.26 4,892,024.73 977,796.41 3,914,228.32
Feb-00 625,387,308.98 4,818,117.54 910,032.23 3,908,085.31
Mar-00 624,363,719.13 4,925,932.11 1,023,589.94 3,902,342.17
Apr-00 623,367,602.28 4,892,060.59 996,116.80 3,895,943.79
May-00 622,440,450.46 4,816,836.51 927,151.86 3,889,684.65
Jun-00 621,397,611.24 4,926,671.86 1,042,839.20 3,883,832.66
Jul-00 620,382,605.53 4,892,318.26 1,015,005.67 3,877,312.59
Aug-00 619,437,785.44 4,815,753.78 944,820.14 3,870,933.64
Sep-00 618,375,273.22 4,927,481.05 1,062,512.20 3,864,968.85
Oct-00 617,341,053.30 4,892,544.60 1,034,219.94 3,858,324.66
Nov-00 616,378,261.12 4,814,615.82 962,792.17 3,851,823.65
Dec-00 615,295,737.82 4,928,267.59 1,082,523.31 3,845,744.28
Jan-01 614,241,898.94 4,892,812.36 1,053,838.87 3,838,973.49
Feb-01 613,260,751.99 4,813,494.91 981,146.92 3,832,347.99
Mar-01 612,157,968.15 4,928,935.37 1,102,783.79 3,826,151.58
Apr-01 611,084,363.47 4,892,857.51 1,073,604.69 3,819,252.82
May-01 610,084,738.80 4,812,126.63 999,624.69 3,812,501.94
Jun-01 608,958,871.38 4,932,055.09 1,125,867.36 3,806,187.73
Jul-01 607,862,553.02 4,895,463.39 1,096,318.34 3,799,145.05
Aug-01 606,841,080.12 4,813,724.71 1,021,472.93 3,792,251.78
Sep-01 605,693,529.27 4,933,351.18 1,147,550.87 3,785,800.31
Oct-01 604,574,046.79 4,898,103.27 1,119,482.54 3,778,620.73
Nov-01 603,531,157.99 4,814,469.38 1,042,888.77 3,771,580.61
Dec-01 602,359,994.10 4,936,156.41 1,171,163.91 3,764,992.50
Jan-02 601,090,966.30 5,026,691.54 1,269,027.80 3,757,663.74
Feb-02 600,028,186.94 4,812,516.38 1,062,779.39 3,749,736.99
Mar-02 598,835,086.85 4,936,122.07 1,193,100.06 3,743,022.01
Apr-02 597,542,393.10 5,028,248.31 1,292,693.71 3,735,554.60
May-02 596,454,184.92 4,815,686.95 1,088,208.17 3,727,478.78
Jun-02 595,233,179.04 4,941,602.21 1,221,005.83 3,720,596.38
Jul-02 593,910,648.80 5,035,477.29 1,322,530.31 3,712,946.98
Aug-02 592,772,928.79 4,842,397.33 1,137,720.05 3,704,677.28
Sep-02 591,499,936.54 4,970,481.48 1,272,992.24 3,697,489.24
Oct-02 590,123,424.07 5,066,032.40 1,376,512.48 3,689,519.92
Nov-02 588,961,800.49 4,842,541.59 1,161,623.53 3,680,918.06
Dec-02 587,662,545.37 4,972,831.99 1,299,255.12 3,673,576.87
Jan-03 586,221,981.90 5,106,004.17 1,440,563.47 3,665,440.70
Feb-03 585,036,213.42 4,842,193.41 1,185,768.41 3,656,425.00
Mar-03 583,710,601.26 4,974,541.79 1,325,612.22 3,648,929.57
Apr-03 582,241,094.59 5,110,133.32 1,469,506.60 3,640,626.72
May-03 581,032,950.27 4,839,572.47 1,208,144.33 3,631,428.14
Jun-03 579,682,350.25 4,974,390.03 1,350,600.04 3,623,789.99
Jul-03 578,185,102.29 5,112,576.95 1,497,248.02 3,615,328.93
Aug-03 576,953,896.82 4,837,160.61 1,231,205.48 3,605,955.13
Sep-03 575,577,766.08 4,974,300.40 1,376,130.68 3,598,169.72
Oct-03 574,052,290.11 5,115,023.08 1,525,476.05 3,589,547.03
Nov-03 572,797,620.98 4,834,663.92 1,254,669.15 3,579,994.77
Dec-03 571,393,007.89 4,976,672.40 1,404,613.01 3,572,059.39
Jan-04 569,836,203.21 5,120,063.04 1,556,804.68 3,563,258.36
Feb-04 568,555,041.04 4,834,672.19 1,281,162.22 3,553,509.97
</TABLE>
Page 1
<PAGE>
AGGREGATE
<TABLE>
<S> <C> <C> <C> <C>
Mar-04 567,124,067.03 4,976,381.54 1,430,974.09 3,545,407.45
Apr-04 565,538,127.69 5,122,379.04 1,585,939.29 3,536,439.75
May-04 564,232,769.08 4,831,865.99 1,305,358.60 3,526,507.39
Jun-04 562,774,804.17 4,976,215.25 1,457,964.92 3,518,250.33
Jul-04 561,158,910.23 5,125,005.71 1,615,893.95 3,509,111.76
Aug-04 559,828,621.95 4,829,278.38 1,330,288.36 3,498,990.02
Sep-04 558,107,146.66 5,212,048.93 1,721,475.24 3,490,573.69
Oct-04 556,460,770.96 5,126,281.46 1,646,375.67 3,479,905.79
Nov-04 555,105,116.15 4,825,246.06 1,355,654.83 3,469,591.23
Dec-04 553,351,519.05 5,214,609.84 1,753,597.20 3,461,012.64
Jan-05 551,674,035.87 5,127,626.76 1,677,483.15 3,450,143.61
Feb-05 550,292,480.37 4,821,187.80 1,381,555.48 3,439,632.32
Mar-05 548,506,315.38 5,217,053.01 1,786,164.91 3,430,888.10
Apr-05 546,797,409.65 5,128,721.11 1,708,905.85 3,419,815.26
May-05 545,389,733.58 4,816,781.44 1,407,676.04 3,409,105.40
Jun-05 543,570,253.53 5,219,674.32 1,819,479.99 3,400,194.33
Jul-05 541,829,047.75 5,130,118.70 1,741,205.80 3,388,912.90
Aug-05 540,394,466.96 4,812,579.35 1,434,580.76 3,377,998.59
Sep-05 538,540,970.46 5,222,412.06 1,853,496.64 3,368,915.42
Oct-05 536,766,894.56 5,131,496.84 1,774,075.83 3,357,421.01
Nov-05 535,304,936.13 4,808,257.10 1,461,958.43 3,346,298.67
Dec-05 533,416,827.21 5,225,149.18 1,888,108.95 3,337,040.23
Jan-06 531,609,207.34 5,132,948.74 1,807,619.81 3,325,328.93
Feb-06 530,119,295.45 4,803,906.07 1,489,911.86 3,313,994.21
Mar-06 528,196,088.78 5,227,763.49 1,923,206.59 3,304,556.90
Apr-06 526,354,576.65 5,134,137.90 1,841,512.18 3,292,625.72
May-06 524,836,465.44 4,799,187.92 1,518,111.16 3,281,076.76
Jun-06 522,874,659.96 5,233,264.60 1,961,805.56 3,271,459.04
Jul-06 520,995,602.84 5,138,345.22 1,879,057.12 3,259,288.10
Aug-06 519,445,293.93 4,797,812.52 1,550,309.00 3,247,503.52
Sep-06 517,446,355.49 5,236,620.71 1,998,938.42 3,237,682.29
Oct-06 515,529,307.70 5,142,326.50 1,917,047.74 3,225,278.76
Nov-06 513,947,320.22 4,795,241.16 1,581,987.46 3,213,253.70
Dec-06 511,908,942.29 5,241,607.82 2,038,378.01 3,203,229.81
Jan-07 509,802,951.76 5,296,569.40 2,105,990.53 3,190,578.87
Feb-07 508,190,699.72 4,789,681.77 1,612,251.97 3,177,429.80
Mar-07 506,114,401.07 5,243,510.67 2,076,298.59 3,167,212.08
Apr-07 503,969,074.53 5,299,650.12 2,145,326.56 3,154,323.56
May-07 502,320,109.70 4,789,891.49 1,648,964.83 3,140,926.66
Jun-07 500,198,810.06 5,251,767.92 2,121,299.71 3,130,468.21
Jul-07 486,792,749.79 16,523,351.14 13,406,060.26 3,117,290.89
Aug-07 485,142,691.84 4,683,937.05 1,650,057.85 3,033,879.20
Sep-07 483,012,336.04 5,153,769.30 2,130,355.88 3,023,413.42
Oct-07 478,056,657.25 7,965,861.71 4,955,678.77 3,010,182.94
Nov-07 476,387,065.89 4,649,035.31 1,669,591.38 2,979,443.93
Dec-07 474,228,954.38 5,126,960.42 2,158,111.51 2,968,848.91
Jan-08 471,954,638.11 5,229,758.02 2,274,316.22 2,955,441.80
Feb-08 470,250,878.98 4,644,973.45 1,703,759.20 2,941,214.25
Mar-08 468,050,385.85 5,130,893.08 2,200,493.07 2,930,400.01
Apr-08 465,731,295.84 5,235,816.79 2,319,090.04 2,916,726.75
May-08 463,995,209.67 4,638,302.49 1,736,086.10 2,902,216.39
Jun-08 461,753,570.71 5,132,833.92 2,241,638.94 2,891,194.98
Jul-08 459,390,738.47 5,240,095.59 2,362,832.32 2,877,263.27
Aug-08 457,621,375.35 4,631,839.82 1,769,363.16 2,862,476.66
Sep-08 455,337,727.34 5,134,889.55 2,283,647.95 2,851,241.60
Oct-08 452,930,373.41 5,244,400.06 2,407,353.99 2,837,046.07
Nov-08 451,127,142.14 4,625,209.33 1,803,231.29 2,821,978.04
Dec-08 448,797,837.32 5,139,830.40 2,329,304.87 2,810,525.53
Jan-09 446,342,137.20 5,251,745.28 2,455,700.04 2,796,045.24
Feb-09 444,501,388.71 4,621,422.59 1,840,748.59 2,780,674.00
Mar-09 442,128,669.89 5,141,702.02 2,372,718.83 2,768,983.19
Apr-09 439,626,970.22 5,255,929.98 2,501,699.59 2,754,230.39
May-09 437,751,264.16 4,614,274.76 1,875,706.08 2,738,568.68
Jun-09 425,547,870.16 14,930,047.52 12,203,393.91 2,726,653.61
Jul-09 423,049,770.00 5,151,493.48 2,498,100.14 2,653,393.34
Aug-09 421,189,204.02 4,498,301.58 1,860,566.01 2,637,735.57
Sep-09 418,497,417.73 5,317,679.80 2,691,786.29 2,625,893.51
Oct-09 415,952,172.91 5,154,515.51 2,545,244.80 2,609,270.71
Nov-09 414,055,908.17 4,489,579.04 1,896,264.67 2,593,314.37
Dec-09 411,314,079.70 5,323,071.05 2,741,828.54 2,581,242.51
Jan-10 408,720,733.91 5,157,653.08 2,593,345.77 2,564,307.31
Feb-10 406,788,020.03 4,480,760.43 1,932,713.92 2,548,046.51
Mar-10 403,995,412.77 5,328,347.24 2,792,607.26 2,535,739.98
Apr-10 401,353,403.10 5,160,497.66 2,642,009.64 2,518,488.02
May-10 399,383,889.11 4,471,433.37 1,969,514.04 2,501,919.33
Jun-10 396,539,378.56 5,333,886.47 2,844,510.45 2,489,376.02
Jul-10 393,847,421.59 5,163,757.04 2,691,956.95 2,471,800.09
Aug-10 391,840,034.77 4,462,301.82 2,007,386.81 2,454,915.01
</TABLE>
Page 2
<PAGE>
AGGREGATE
<TABLE>
<S> <C> <C> <C> <C>
Sep-10 388,942,551.96 5,339,610.68 2,897,482.85 2,442,127.83
Oct-10 386,199,753.03 5,167,019.96 2,742,798.93 2,424,221.03
Nov-10 384,153,816.51 4,452,950.49 2,045,936.58 2,407,013.91
Dec-10 381,202,423.75 5,345,370.99 2,951,392.63 2,393,978.36
Jan-11 378,407,752.66 5,170,405.91 2,794,671.17 2,375,734.74
Feb-11 376,322,456.72 4,443,494.86 2,085,295.86 2,358,199.00
Mar-11 373,316,354.45 5,351,012.10 3,006,102.33 2,344,909.77
Apr-11 370,469,193.03 5,173,485.95 2,847,161.39 2,326,324.56
May-11 368,345,505.61 4,432,143.92 2,123,687.46 2,308,456.45
Jun-11 365,324,239.40 5,316,185.01 3,021,266.21 2,294,918.80
Jul-11 362,464,191.59 5,136,257.30 2,860,047.85 2,276,209.45
Aug-11 360,339,022.39 4,383,395.50 2,125,169.16 2,258,226.34
Sep-11 357,260,934.32 5,322,730.74 3,078,088.10 2,244,642.64
Oct-11 354,344,136.10 5,142,375.91 2,916,798.15 2,225,577.76
Nov-11 352,175,835.91 4,375,534.75 2,168,300.26 2,207,234.49
Dec-11 349,038,158.16 5,331,050.04 3,137,677.71 2,193,372.33
Jan-12 345,884,377.90 5,327,714.46 3,153,780.25 2,173,934.21
Feb-12 343,674,221.74 4,364,331.65 2,210,156.29 2,154,175.36
Mar-12 340,478,247.54 5,336,016.72 3,195,974.06 2,140,042.66
Apr-12 337,265,309.56 5,333,177.84 3,212,938.11 2,120,239.73
May-12 335,005,755.19 4,359,661.28 2,259,554.26 2,100,107.02
Jun-12 331,743,026.50 5,348,377.57 3,262,728.72 2,085,648.85
Jul-12 328,565,849.68 5,242,596.99 3,177,176.76 2,065,420.23
Aug-12 326,447,097.09 4,164,199.15 2,118,752.63 2,045,446.52
Sep-12 323,308,909.05 5,169,946.08 3,138,188.04 2,031,758.04
Oct-12 320,152,709.19 5,168,405.50 3,156,199.85 2,012,205.65
Nov-12 317,990,446.20 4,154,570.91 2,162,262.94 1,992,307.97
Dec-12 314,791,139.54 5,177,641.83 3,199,306.71 1,978,335.12
Jan-13 311,521,958.42 5,227,577.92 3,269,181.14 1,958,396.78
Feb-13 309,315,106.13 4,144,621.87 2,206,852.21 1,937,769.66
Mar-13 306,053,600.32 5,185,011.71 3,261,505.93 1,923,505.78
Apr-13 302,748,413.45 5,208,362.45 3,305,186.84 1,903,175.61
May-13 300,527,245.86 4,103,480.14 2,221,167.49 1,882,312.65
Jun-13 297,233,090.63 5,162,099.40 3,294,155.25 1,867,944.15
Jul-13 293,865,034.20 5,215,459.85 3,368,056.41 1,847,403.44
Aug-13 291,600,478.65 4,090,695.28 2,264,555.58 1,826,139.70
Sep-13 288,244,416.81 5,167,549.26 3,356,061.80 1,811,487.46
Oct-13 284,812,351.58 5,222,621.67 3,432,065.26 1,790,556.41
Nov-13 282,503,619.92 4,077,616.29 2,308,731.68 1,768,884.61
Dec-13 279,084,544.24 5,173,019.08 3,419,075.74 1,753,943.34
Jan-14 275,587,171.65 5,229,987.37 3,497,372.47 1,732,614.90
Feb-14 273,233,322.27 4,064,376.13 2,353,849.50 1,710,526.63
Mar-14 269,750,283.87 5,178,328.64 3,483,038.45 1,695,290.19
Apr-14 266,186,780.73 5,237,061.53 3,563,503.09 1,673,558.44
May-14 263,787,356.72 4,050,472.81 2,399,424.01 1,651,048.80
Jun-14 260,238,933.85 5,183,937.23 3,548,422.87 1,635,514.36
Jul-14 256,607,598.34 5,244,705.70 3,631,335.55 1,613,370.15
Aug-14 254,161,265.03 4,036,761.13 2,446,333.21 1,590,427.92
Sep-14 250,211,994.51 5,523,856.84 3,949,270.48 1,574,586.36
Oct-14 246,511,594.36 5,250,502.80 3,700,400.16 1,550,102.64
Nov-14 244,017,497.00 4,020,817.19 2,494,097.42 1,526,719.77
Dec-14 239,994,534.32 5,533,528.13 4,022,962.71 1,510,565.42
Jan-15 236,223,669.57 5,256,484.60 3,770,864.77 1,485,619.83
Feb-15 233,680,791.10 4,004,665.78 2,542,878.43 1,461,787.35
Mar-15 229,583,006.06 5,543,098.64 4,097,785.07 1,445,313.57
Apr-15 225,740,774.70 5,262,130.40 3,842,231.26 1,419,899.14
May-15 223,148,607.14 3,987,779.13 2,592,167.65 1,395,611.48
Jun-15 218,974,368.81 5,553,053.41 4,174,238.30 1,378,815.10
Jul-15 215,124,788.05 5,202,502.30 3,849,580.86 1,352,921.44
Aug-15 212,548,165.55 3,905,212.10 2,576,622.39 1,328,589.71
Sep-15 208,362,605.79 5,497,446.57 4,185,559.86 1,311,886.71
Oct-15 204,439,778.03 5,208,760.15 3,922,827.77 1,285,932.38
Nov-15 201,812,793.69 3,888,117.22 2,626,984.33 1,261,132.89
Dec-15 197,549,115.61 5,507,777.93 4,263,678.10 1,244,099.83
Jan-16 193,551,555.84 5,215,215.23 3,997,559.70 1,217,655.53
Feb-16 190,873,136.51 3,870,798.23 2,678,419.31 1,192,378.92
Mar-16 186,530,138.71 5,518,006.36 4,342,997.81 1,175,008.55
Apr-16 182,456,884.86 5,221,320.84 4,073,253.87 1,148,066.97
May-16 179,726,491.34 3,852,700.88 2,730,393.59 1,122,307.29
Jun-16 175,302,448.21 5,528,639.46 4,424,043.11 1,104,596.35
Jul-16 171,152,639.62 5,226,955.15 4,149,808.59 1,077,146.55
Aug-16 168,384,899.33 3,818,637.79 2,767,740.35 1,050,897.44
Sep-16 163,894,387.32 5,523,444.41 4,490,512.08 1,032,932.33
Oct-16 159,678,521.37 5,220,926.86 4,215,865.85 1,005,061.01
Nov-16 156,867,203.62 3,789,701.67 2,811,317.78 978,383.89
Dec-16 152,303,458.55 5,523,871.55 4,563,745.01 960,126.54
Jan-17 149,176,785.94 4,058,464.87 3,126,672.59 931,792.28
Feb-17 146,325,704.33 3,762,544.78 2,851,081.55 911,463.23
</TABLE>
Page 3
<PAGE>
AGGREGATE
<TABLE>
<S> <C> <C> <C> <C>
Mar-17 141,692,428.82 5,526,216.85 4,633,275.58 892,941.28
Apr-17 138,925,656.35 3,630,944.35 2,766,772.54 864,171.81
May-17 136,494,830.59 3,277,424.71 2,430,825.79 846,598.92
Jun-17 132,254,250.10 5,071,853.38 4,240,580.41 831,272.97
Jul-17 129,487,000.49 3,572,796.08 2,767,249.62 805,546.46
Aug-17 127,002,570.38 3,272,450.32 2,484,430.14 788,020.18
Sep-17 122,677,131.24 5,097,788.02 4,325,439.13 772,348.89
Oct-17 110,084,653.72 13,338,574.98 12,592,477.55 746,097.42
Nov-17 107,639,760.57 3,116,438.56 2,444,893.12 671,545.44
Dec-17 103,322,617.82 4,973,217.70 4,317,142.77 656,074.93
Jan-18 100,846,684.82 3,105,777.70 2,475,932.94 629,844.77
Feb-18 98,381,441.91 3,079,419.10 2,465,242.94 614,176.16
Mar-18 94,012,223.90 4,967,794.02 4,369,218.00 598,576.02
Apr-18 91,516,071.14 3,068,187.22 2,496,152.72 572,034.50
May-18 89,004,121.24 3,068,187.22 2,511,949.93 556,237.29
Jun-18 84,554,977.18 4,989,483.31 4,449,144.07 540,339.24
Jul-18 82,011,129.73 3,057,155.77 2,543,847.48 513,308.29
Aug-18 79,451,180.59 3,057,155.77 2,559,949.11 497,206.66
Sep-18 74,920,636.59 5,011,546.20 4,530,544.01 481,002.20
Oct-18 72,447,195.36 2,926,913.99 2,473,441.21 453,472.78
Nov-18 69,958,000.73 2,926,913.99 2,489,194.67 437,719.32
Dec-18 65,464,896.63 4,914,968.78 4,493,104.10 421,864.68
Jan-19 62,943,890.81 2,915,499.27 2,521,005.78 394,493.48
Feb-19 60,787,534.14 2,534,791.20 2,156,356.67 378,434.53
Mar-19 56,595,904.21 4,556,681.56 4,191,629.91 365,051.65
Apr-19 54,824,140.20 2,111,740.71 1,771,763.99 339,976.72
May-19 53,041,445.48 2,111,740.71 1,782,694.70 329,046.01
Jun-19 49,204,095.70 4,155,397.09 3,837,349.66 318,047.43
Jul-19 47,412,900.94 2,086,450.88 1,791,194.82 295,256.06
Aug-19 45,623,435.45 2,073,673.39 1,789,465.42 284,207.96
Sep-19 44,078,456.27 1,818,145.42 1,544,979.23 273,166.19
Oct-19 42,523,959.56 1,818,145.45 1,554,496.69 263,648.74
Nov-19 41,109,946.28 1,668,085.42 1,414,013.26 254,072.16
Dec-19 15,181,992.43 26,173,466.65 25,927,953.84 245,512.79
Jan-20 14,366,924.32 914,351.27 815,068.08 99,283.19
Feb-20 13,546,654.44 914,349.21 820,269.90 94,079.30
Mar-20 12,746,356.32 889,140.18 800,298.10 88,842.08
Apr-20 11,940,926.12 889,140.18 805,430.19 83,709.99
May-20 11,130,330.88 889,140.18 810,595.25 78,544.93
Jun-20 10,314,537.36 889,140.18 815,793.52 73,346.66
Jul-20 9,493,512.19 889,140.18 821,025.17 68,115.00
Aug-20 9,019,910.42 536,451.43 473,601.75 62,849.68
Sep-20 8,543,276.14 536,451.43 476,634.28 59,817.15
Oct-20 8,063,589.87 536,451.43 479,686.28 56,765.15
Nov-20 7,580,831.97 536,451.43 482,757.92 53,693.51
Dec-20 7,094,982.68 536,451.43 485,849.28 50,602.15
Jan-21 6,606,024.35 536,449.24 488,958.33 47,490.91
Feb-21 6,260,757.20 389,626.82 345,267.15 44,359.67
Mar-21 5,913,649.55 389,178.54 347,107.67 42,070.87
Apr-21 5,564,241.01 389,178.54 349,408.51 39,770.03
May-21 5,212,516.36 389,178.54 351,724.67 37,453.87
Jun-21 4,858,463.05 389,175.67 354,053.29 35,122.38
Jul-21 4,555,018.63 336,219.81 303,444.41 32,775.40
Aug-21 4,249,555.47 336,219.81 305,463.17 30,756.64
Sep-21 3,942,060.04 336,219.83 307,495.43 28,724.40
Oct-21 3,680,102.92 288,635.77 261,957.14 26,678.63
Nov-21 3,416,386.59 288,635.77 263,716.32 24,919.45
Dec-21 3,150,896.47 288,638.56 265,490.13 23,148.43
Jan-22 2,907,140.61 265,121.34 243,755.85 21,365.49
Feb-22 2,661,742.71 265,121.34 245,397.91 19,723.43
Mar-22 2,415,162.37 264,650.64 246,580.35 18,070.29
Apr-22 2,166,921.01 264,650.64 248,241.36 16,409.28
May-22 1,917,007.42 264,650.64 249,913.59 14,737.05
Jun-22 1,665,411.80 264,649.18 251,595.62 13,053.56
Jul-22 1,447,735.30 229,035.22 217,676.50 11,358.72
Aug-22 1,220,861.28 236,752.61 226,874.02 9,878.59
Sep-22 992,443.36 236,752.61 228,417.91 8,334.70
Oct-22 762,471.01 236,752.63 229,972.35 6,780.28
Nov-22 583,857.01 183,829.28 178,614.00 5,215.28
Dec-22 404,017.98 183,829.28 179,839.03 3,990.25
Jan-23 222,945.49 183,829.28 181,072.48 2,756.80
Feb-23 40,630.60 183,829.77 182,314.89 1,514.88
Mar-23 0.00 40,895.04 40,630.60 264.44
</TABLE>
Page 4
<PAGE>
BALANCE
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
BALANCE SCHEDULES
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5
- - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL
-----------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2)
-----------------------------------------------------------------------------------------------------
MAR-98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45
-----------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570%
-----------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Apr-98 9,201,195.07 35,282,908.66 67,170,088.09 19,791,520.71 3,444,066.84
May-98 9,201,195.07 35,282,908.66 67,170,088.09 19,791,520.71 3,438,138.96
Jun-98 9,201,195.07 35,282,908.66 67,170,088.09 19,791,520.71 3,432,178.62
Jul-98 9,193,628.58 35,224,390.92 67,170,088.09 19,791,520.71 3,426,185.65
Aug-98 9,193,628.58 35,224,390.92 67,170,088.09 19,791,520.71 3,420,159.87
Sep-98 9,193,628.58 35,224,390.92 67,170,088.09 19,791,520.71 3,414,101.09
Oct-98 9,185,913.22 35,164,844.73 67,170,088.09 19,760,971.28 3,408,009.14
Nov-98 9,185,913.22 35,164,844.73 67,170,088.09 19,730,242.38 3,401,883.84
Dec-98 9,185,913.22 35,164,844.73 67,170,088.09 19,699,332.94 3,395,725.01
Jan-99 9,178,046.06 35,104,252.02 67,170,088.09 19,668,241.92 3,389,532.45
Feb-99 9,178,046.06 35,104,252.02 67,170,088.09 19,636,968.23 3,383,305.99
Mar-99 9,178,046.06 35,104,252.02 67,170,088.09 19,605,510.81 3,377,045.44
Apr-99 9,170,024.12 35,042,594.39 67,170,088.09 19,573,868.57 3,370,750.62
May-99 9,170,024.12 35,042,594.39 67,170,088.09 19,542,040.44 3,364,421.33
Jun-99 9,170,024.12 35,042,594.39 67,170,088.09 19,510,025.32 3,358,057.38
Jul-99 9,161,844.34 34,979,853.13 67,170,088.09 19,477,822.11 3,351,658.60
Aug-99 9,161,844.34 34,979,853.13 67,170,088.09 19,445,429.70 3,345,224.78
Sep-99 9,161,844.34 34,979,853.13 65,928,325.59 19,412,846.99 3,338,755.73
Oct-99 9,153,503.63 34,916,009.19 65,928,325.59 19,380,072.86 3,332,251.27
Nov-99 9,153,503.63 34,916,009.19 65,928,325.59 19,347,106.17 3,325,711.20
Dec-99 9,153,503.63 34,916,009.19 65,822,178.50 19,313,945.81 3,319,135.32
Jan-00 9,144,998.81 34,851,043.19 65,822,178.50 19,280,590.63 3,312,523.43
Feb-00 9,144,998.81 34,851,043.19 65,822,178.50 19,247,039.49 3,305,875.35
Mar-00 9,144,998.81 34,851,043.19 65,714,203.02 19,213,291.24 3,299,190.87
Apr-00 9,136,326.66 34,784,935.41 65,714,203.02 19,179,344.72 3,292,469.79
May-00 9,136,326.66 34,784,935.41 65,714,203.02 19,145,198.76 3,285,711.91
Jun-00 9,136,326.66 34,784,935.41 65,604,367.67 19,110,852.19 3,278,917.03
Jul-00 9,127,483.89 34,717,665.79 65,604,367.67 19,076,303.84 3,272,084.95
Aug-00 9,127,483.89 34,717,665.79 65,604,367.67 19,041,552.51 3,265,215.47
Sep-00 9,127,483.89 34,717,665.79 65,492,640.40 19,006,597.02 3,258,308.37
Oct-00 9,118,467.14 34,649,213.91 65,492,640.40 18,971,436.17 3,251,363.46
Nov-00 9,118,467.14 34,649,213.91 65,492,640.40 18,936,068.75 3,244,380.52
Dec-00 9,118,467.14 34,649,213.91 65,378,988.63 18,900,493.54 3,237,359.36
Jan-01 9,109,272.98 34,579,558.98 65,378,988.63 18,864,709.33 3,230,299.75
Feb-01 9,109,272.98 34,579,558.98 65,378,988.63 18,828,714.89 3,223,201.49
Mar-01 9,109,272.98 34,579,558.98 65,263,379.21 18,792,508.98 3,216,064.37
Apr-01 9,099,897.93 34,508,679.87 65,263,379.21 18,756,090.36 3,208,888.17
May-01 9,099,897.93 34,508,679.87 65,263,379.21 18,719,457.78 3,201,672.68
Jun-01 9,099,897.93 34,508,679.87 65,145,778.42 18,682,609.98 3,194,417.69
Jul-01 9,090,338.42 34,436,555.06 65,145,778.42 18,645,545.71 3,187,122.98
Aug-01 9,090,338.42 34,436,555.06 65,145,778.42 18,608,263.68 3,179,788.33
Sep-01 9,090,338.42 34,436,555.06 65,026,151.95 18,570,762.62 3,172,413.52
Oct-01 9,080,590.83 34,363,162.65 65,026,151.95 18,533,041.24 3,164,998.33
Nov-01 9,080,590.83 34,363,162.65 65,026,151.95 18,495,098.25 3,157,542.55
<CAPTION>
POOL ID 6 7 8 9 10 11
- - - - -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
-----------------------------------------------------------------------------------------------------------------
DENVER ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND
CO FL FL IL KS MI
-----------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 6,888,745.84 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41
-----------------------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 7.640% 7.640% 8.610% 8.610% 7.640%
-----------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Apr-98 6,879,542.59 12,102,310.54 7,080,388.02 5,003,303.70 5,724,934.04 8,262,016.85
May-98 6,870,273.31 12,082,646.17 7,068,883.49 4,996,562.40 5,717,220.44 8,248,592.35
Jun-98 6,860,937.52 12,062,856.60 7,057,305.72 4,989,772.74 5,709,451.50 8,235,082.39
Jul-98 6,851,534.75 12,042,941.04 7,045,654.23 4,982,934.36 5,701,626.82 8,221,486.42
Aug-98 6,842,064.51 12,022,898.68 7,033,928.56 4,976,046.91 5,693,745.99 8,207,803.88
Sep-98 6,832,526.32 12,002,728.72 7,022,128.24 4,969,110.05 5,685,808.62 8,194,034.23
Oct-98 6,822,919.70 11,982,430.34 7,010,252.79 4,962,123.41 5,677,814.29 8,180,176.92
Nov-98 6,813,244.15 11,962,002.73 6,998,301.73 4,955,086.65 5,669,762.61 8,166,231.37
Dec-98 6,803,499.17 11,941,445.06 6,986,274.59 4,947,999.39 5,661,653.16 8,152,197.05
Jan-99 6,793,684.28 11,920,756.51 6,974,170.87 4,940,861.29 5,653,485.52 8,138,073.37
Feb-99 6,783,798.97 11,899,936.25 6,961,990.09 4,933,671.97 5,645,259.28 8,123,859.77
Mar-99 6,773,842.72 11,878,983.42 6,949,731.76 4,926,431.07 5,636,974.01 8,109,555.68
Apr-99 6,763,815.04 11,857,897.20 6,937,395.39 4,919,138.21 5,628,629.30 8,095,160.51
May-99 6,753,715.42 11,836,676.73 6,924,980.47 4,911,793.03 5,620,224.72 8,080,673.70
Jun-99 6,743,543.33 11,815,321.16 6,912,486.51 4,904,395.14 5,611,759.83 8,066,094.66
Jul-99 6,733,298.25 11,793,829.62 6,899,913.01 4,896,944.18 5,603,234.20 8,051,422.80
Aug-99 6,722,979.66 11,772,201.25 6,887,259.46 4,889,439.75 5,594,647.41 8,036,657.52
Sep-99 6,712,587.04 11,750,435.18 6,874,525.34 4,881,881.48 5,585,999.01 8,021,798.24
Oct-99 6,702,119.85 11,728,530.53 6,861,710.15 4,874,268.98 5,577,288.55 8,006,844.36
Nov-99 6,691,577.56 11,706,486.43 6,848,813.37 4,866,601.86 5,568,515.59 7,991,795.26
Dec-99 6,680,959.63 11,684,301.97 6,835,834.49 4,858,879.73 5,559,679.69 7,976,650.36
Jan-00 6,670,265.52 11,661,976.28 6,822,772.97 4,851,102.19 5,550,780.39 7,961,409.03
Feb-00 6,659,494.67 11,639,508.45 6,809,628.29 4,843,268.85 5,541,817.24 7,946,070.67
Mar-00 6,648,646.55 11,616,897.57 6,796,399.92 4,835,379.30 5,532,789.78 7,930,634.66
Apr-00 6,637,720.59 11,594,142.73 6,783,087.33 4,827,433.15 5,523,697.55 7,915,100.36
May-00 6,626,716.23 11,571,243.02 6,769,689.99 4,819,429.98 5,514,540.08 7,899,467.17
Jun-00 6,615,632.92 11,548,197.52 6,756,207.35 4,811,369.39 5,505,316.90 7,883,734.44
Jul-00 6,604,470.09 11,525,005.29 6,742,638.87 4,803,250.97 5,496,027.55 7,867,901.55
Aug-00 6,593,227.16 11,501,665.41 6,728,984.00 4,795,074.29 5,486,671.55 7,851,967.86
Sep-00 6,581,903.57 11,478,176.93 6,715,242.20 4,786,838.95 5,477,248.42 7,835,932.72
Oct-00 6,570,498.72 11,454,538.91 6,701,412.91 4,778,544.52 5,467,757.68 7,819,795.49
Nov-00 6,559,012.05 11,430,750.39 6,687,495.57 4,770,190.58 5,458,198.84 7,803,555.52
Dec-00 6,547,442.96 11,406,810.42 6,673,489.63 4,761,776.69 5,448,571.41 7,787,212.16
Jan-01 6,535,790.87 11,382,718.03 6,659,394.51 4,753,302.44 5,438,874.91 7,770,764.74
Feb-01 6,524,055.17 11,358,472.25 6,645,209.66 4,744,767.39 5,429,108.84 7,754,212.61
Mar-01 6,512,235.26 11,334,072.10 6,630,934.49 4,736,171.09 5,419,272.70 7,737,555.10
Apr-01 6,500,330.55 11,309,516.61 6,616,568.44 4,727,513.12 5,409,365.98 7,720,791.53
May-01 6,488,340.42 11,284,804.79 6,602,110.93 4,718,793.03 5,399,388.18 7,703,921.24
Jun-01 6,476,264.26 11,259,935.63 6,587,561.37 4,710,010.37 5,389,338.79 7,686,943.54
Jul-01 6,464,101.46 11,234,908.13 6,572,919.17 4,701,164.69 5,379,217.30 7,669,857.75
Aug-01 6,451,851.39 11,209,721.30 6,558,183.76 4,692,255.55 5,369,023.18 7,652,663.17
Sep-01 6,439,513.42 11,184,374.11 6,543,354.53 4,683,282.48 5,358,755.92 7,635,359.13
Oct-01 6,427,086.93 11,158,865.54 6,528,430.89 4,674,245.03 5,348,415.00 7,617,944.92
Nov-01 6,414,571.28 11,133,194.57 6,513,412.23 4,665,142.74 5,337,999.87 7,600,419.83
<CAPTION>
POOL ID 12 13 14
-- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY
----------------------------------------------------------
KENTWOOD BOARDMAN MONROEVILLE
MI OH PA
----------------------------------------------------------
MAR-98 BALANCE 5,661,718.21 5,464,462.52 9,557,521.11
----------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640%
----------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH
----------------------------------------------------------
<S> <C> <C> <C>
Apr-98 5,652,591.73 5,455,654.01 9,542,114.74
May-98 5,643,407.15 5,446,789.42 9,526,610.28
Jun-98 5,634,164.09 5,437,868.39 9,511,007.12
Jul-98 5,624,862.19 5,428,890.57 9,495,304.61
Aug-98 5,615,501.06 5,419,855.59 9,479,502.13
Sep-98 5,606,080.33 5,410,763.08 9,463,599.04
Oct-98 5,596,599.63 5,401,612.69 9,447,594.70
Nov-98 5,587,058.56 5,392,404.03 9,431,488.47
Dec-98 5,577,456.75 5,383,136.75 9,415,279.69
Jan-99 5,567,793.81 5,373,810.47 9,398,967.72
Feb-99 5,558,069.35 5,364,424.81 9,382,551.89
Mar-99 5,548,282.97 5,354,979.39 9,366,031.55
Apr-99 5,538,434.29 5,345,473.84 9,349,406.03
May-99 5,528,522.90 5,335,907.77 9,332,674.66
Jun-99 5,518,548.42 5,326,280.80 9,315,836.77
Jul-99 5,508,510.43 5,316,592.53 9,298,891.68
Aug-99 5,498,408.53 5,306,842.59 9,281,838.70
Sep-99 5,488,242.31 5,297,030.56 9,264,677.16
Oct-99 5,478,011.37 5,287,156.07 9,247,406.35
Nov-99 5,467,715.29 5,277,218.71 9,230,025.58
Dec-99 5,457,353.66 5,267,218.08 9,212,534.16
Jan-00 5,446,926.06 5,257,153.79 9,194,931.37
Feb-00 5,436,432.08 5,247,025.41 9,177,216.51
Mar-00 5,425,871.28 5,236,832.55 9,159,388.87
Apr-00 5,415,243.24 5,226,574.80 9,141,447.73
May-00 5,404,547.54 5,216,251.74 9,123,392.36
Jun-00 5,393,783.74 5,205,862.96 9,105,222.04
Jul-00 5,382,951.42 5,195,408.03 9,086,936.03
Aug-00 5,372,050.12 5,184,886.54 9,068,533.60
Sep-00 5,361,079.43 5,174,298.07 9,050,014.01
Oct-00 5,350,038.88 5,163,642.18 9,031,376.52
Nov-00 5,338,928.05 5,152,918.45 9,012,620.36
Dec-00 5,327,746.47 5,142,126.44 8,993,744.79
Jan-01 5,316,493.71 5,131,265.72 8,974,749.05
Feb-01 5,305,169.30 5,120,335.86 8,955,632.36
Mar-01 5,293,772.79 5,109,336.41 8,936,393.97
Apr-01 5,282,303.73 5,098,266.94 8,917,033.09
May-01 5,270,761.65 5,087,126.98 8,897,548.95
Jun-01 5,259,146.08 5,075,916.10 8,877,940.75
Jul-01 5,247,456.56 5,064,633.85 8,858,207.72
Aug-01 5,235,692.62 5,053,279.77 8,838,349.06
Sep-01 5,223,853.78 5,041,853.39 8,818,363.96
Oct-01 5,211,939.56 5,030,354.27 8,798,251.63
Nov-01 5,199,949.49 5,018,781.94 8,778,011.24
</TABLE>
Page 1
<PAGE>
BALANCE
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5
- - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL
------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2)
------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45
------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570%
------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Dec-01 9,080,590.83 34,363,162.65 64,904,464.92 18,456,932.34 3,150,045.94
Jan-02 9,070,651.45 34,160,181.18 64,904,464.92 18,418,542.21 3,142,508.30
Feb-02 9,070,651.45 34,160,181.18 64,904,464.92 18,379,926.53 3,134,929.38
Mar-02 9,070,651.45 34,160,181.18 64,780,681.83 18,341,083.99 3,127,308.97
Apr-02 9,060,516.52 33,953,632.31 64,780,681.83 18,302,013.25 3,119,646.83
May-02 9,060,516.52 33,953,632.31 64,780,681.83 18,262,712.97 3,111,942.75
Jun-02 9,060,516.52 33,953,632.31 64,654,766.57 18,223,181.79 3,104,196.49
Jul-02 9,050,182.18 33,743,453.35 64,654,766.57 18,183,418.38 3,096,407.81
Aug-02 9,050,182.18 33,743,453.35 64,654,766.57 18,143,421.35 3,088,576.49
Sep-02 9,050,182.18 33,743,453.35 64,526,682.42 18,103,189.34 3,080,702.30
Oct-02 9,039,644.51 33,529,580.49 64,526,682.42 18,062,720.97 3,072,785.00
Nov-02 9,039,644.51 33,529,580.49 64,526,682.42 18,022,014.84 3,064,824.34
Dec-02 9,039,644.51 33,529,580.49 64,396,392.02 17,981,069.57 3,056,820.11
Jan-03 8,993,065.52 33,311,948.82 64,396,392.02 17,939,883.74 3,048,772.05
Feb-03 8,993,065.52 33,311,948.82 64,396,392.02 17,898,455.95 3,040,679.92
Mar-03 8,993,065.52 33,311,948.82 64,263,857.37 17,856,784.77 3,032,543.50
Apr-03 8,945,570.08 33,090,492.27 64,263,857.37 17,814,868.77 3,024,362.52
May-03 8,945,570.08 33,090,492.27 64,263,857.37 17,772,706.51 3,016,136.76
Jun-03 8,945,570.08 33,090,492.27 64,129,039.81 17,730,296.56 3,007,865.96
Jul-03 8,897,140.17 32,865,143.62 64,129,039.81 17,687,637.44 2,999,549.87
Aug-03 8,897,140.17 32,865,143.62 64,129,039.81 17,644,727.70 2,991,188.26
Sep-03 8,897,140.17 32,865,143.62 63,991,900.02 17,601,565.86 2,982,780.86
Oct-03 8,847,757.40 32,635,834.47 63,991,900.02 17,558,150.45 2,974,327.44
Nov-03 8,847,757.40 32,635,834.47 63,991,900.02 17,514,479.98 2,965,827.73
Dec-03 8,847,757.40 32,635,834.47 63,852,398.00 17,470,552.94 2,957,281.49
Jan-04 8,797,403.03 32,402,495.21 63,852,398.00 17,426,367.82 2,948,688.45
Feb-04 8,797,403.03 32,402,495.21 63,852,398.00 17,381,923.13 2,940,048.37
Mar-04 8,797,403.03 32,402,495.21 63,710,493.06 17,337,217.31 2,931,360.99
Apr-04 8,746,057.93 32,165,055.01 63,710,493.06 17,292,248.86 2,922,626.04
May-04 8,746,057.93 32,165,055.01 63,710,493.06 17,247,016.21 2,913,843.27
Jun-04 8,746,057.93 32,165,055.01 63,566,143.80 17,201,517.82 2,905,012.41
Jul-04 8,693,702.62 31,923,441.80 63,566,143.80 17,155,752.13 2,896,133.20
Aug-04 8,693,702.62 31,923,441.80 63,566,143.80 17,109,717.56 2,887,205.38
Sep-04 8,693,702.62 31,923,441.80 63,183,373.25 17,063,412.54 2,878,228.68
Oct-04 8,640,317.22 31,677,582.24 63,183,373.25 17,016,835.48 2,869,202.83
Nov-04 8,640,317.22 31,677,582.24 63,183,373.25 16,969,984.78 2,860,127.57
Dec-04 8,640,317.22 31,677,582.24 62,794,009.47 16,922,858.83 2,851,002.62
Jan-05 8,585,881.46 31,427,401.70 62,794,009.47 16,875,456.01 2,841,827.71
Feb-05 8,585,881.46 31,427,401.70 62,794,009.47 16,827,774.71 2,832,602.56
Mar-05 8,585,881.46 31,427,401.70 62,397,938.90 16,779,813.27 2,823,326.91
Apr-05 8,530,374.68 31,172,824.23 62,397,938.90 16,731,570.07 2,814,000.48
May-05 8,530,374.68 31,172,824.23 62,397,938.90 16,683,043.43 2,804,622.98
Jun-05 8,530,374.68 31,172,824.23 61,995,046.02 16,634,231.70 2,795,194.14
Jul-05 8,473,775.80 30,913,772.57 61,995,046.02 16,585,133.20 2,785,713.68
Aug-05 8,473,775.80 30,913,772.57 61,995,046.02 16,535,746.25 2,776,181.31
Sep-05 8,473,775.80 30,913,772.57 61,585,213.31 16,486,069.15 2,766,596.75
Oct-05 8,416,063.34 30,650,168.07 61,585,213.31 16,436,100.19 2,756,959.72
Nov-05 8,416,063.34 30,650,168.07 61,585,213.31 16,385,837.67 2,747,269.93
Dec-05 8,416,063.34 30,650,168.07 61,168,321.23 16,335,279.86 2,737,527.08
Jan-06 8,357,215.39 30,381,930.72 61,168,321.23 16,284,425.02 2,727,730.89
Feb-06 8,357,215.39 30,381,930.72 61,168,321.23 16,233,271.41 2,717,881.07
Mar-06 8,357,215.39 30,381,930.72 60,744,248.18 16,181,817.27 2,707,977.31
Apr-06 8,297,209.60 30,108,979.10 60,744,248.18 16,130,060.83 2,698,019.34
May-06 8,297,209.60 30,108,979.10 60,744,248.18 16,078,000.33 2,688,006.85
Jun-06 8,297,209.60 30,108,979.10 60,312,870.48 16,025,633.97 2,677,939.53
Jul-06 8,236,023.20 29,831,230.36 60,312,870.48 15,972,959.96 2,667,817.10
Aug-06 8,236,023.20 29,831,230.36 60,312,870.48 15,919,976.49 2,657,639.25
Sep-06 8,236,023.20 29,831,230.36 59,874,062.29 15,866,681.74 2,647,405.68
Oct-06 8,173,632.96 29,548,600.18 59,874,062.29 15,813,073.89 2,637,116.07
<CAPTION>
POOL ID 6 7 8 9 10 11
- - - - -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
------------------------------------------------------------------------------------------------------------------
DENVER ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND
CO FL FL IL KS MI
------------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 6,888,745.84 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41
------------------------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 7.640% 7.640% 8.610% 8.610% 7.640%
------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dec-01 6,401,965.83 11,107,360.16 6,498,297.95 4,655,975.14 5,327,510.02 7,582,783.17
Jan-02 6,389,269.93 11,081,361.26 6,483,087.45 4,646,741.76 5,316,944.91 7,565,034.22
Feb-02 6,376,482.95 11,055,196.85 6,467,780.11 4,637,442.14 5,306,303.99 7,547,172.28
Mar-02 6,363,604.21 11,028,865.85 6,452,375.31 4,628,075.78 5,295,586.72 7,529,196.61
Apr-02 6,350,633.07 11,002,367.21 6,436,872.43 4,618,642.23 5,284,792.55 7,511,106.49
May-02 6,337,568.86 10,975,699.87 6,421,270.85 4,609,140.98 5,273,920.94 7,492,901.20
Jun-02 6,324,410.92 10,948,862.74 6,405,569.94 4,599,571.57 5,262,971.32 7,474,580.01
Jul-02 6,311,158.57 10,921,854.75 6,389,769.07 4,589,933.50 5,251,943.14 7,456,142.17
Aug-02 6,297,811.13 10,894,674.81 6,373,867.60 4,580,226.27 5,240,835.83 7,437,586.94
Sep-02 6,284,367.93 10,867,321.82 6,357,864.89 4,570,449.39 5,229,648.83 7,418,913.57
Oct-02 6,270,828.27 10,839,794.69 6,341,760.30 4,560,602.37 5,218,381.56 7,400,121.32
Nov-02 6,257,191.46 10,812,092.30 6,325,553.17 4,550,684.69 5,207,033.45 7,381,209.43
Dec-02 6,243,456.81 10,784,213.53 6,309,242.86 4,540,695.85 5,195,603.91 7,362,177.13
Jan-03 6,229,623.61 10,756,157.28 6,292,828.71 4,530,635.35 5,184,092.37 7,343,023.66
Feb-03 6,215,691.16 10,727,922.40 6,276,310.05 4,520,502.65 5,172,498.23 7,323,748.24
Mar-03 6,201,658.74 10,699,507.75 6,259,686.22 4,510,297.26 5,160,820.91 7,304,350.11
Apr-03 6,187,525.64 10,670,912.20 6,242,956.56 4,500,018.64 5,149,059.80 7,284,828.47
May-03 6,173,291.14 10,642,134.59 6,226,120.38 4,489,666.28 5,137,214.30 7,265,182.54
Jun-03 6,158,954.50 10,613,173.77 6,209,177.02 4,479,239.63 5,125,283.82 7,245,411.54
Jul-03 6,144,515.00 10,584,028.56 6,192,125.78 4,468,738.18 5,113,267.73 7,225,514.66
Aug-03 6,129,971.90 10,554,697.79 6,174,965.98 4,458,161.37 5,101,165.42 7,205,491.10
Sep-03 6,115,324.45 10,525,180.28 6,157,696.93 4,447,508.68 5,088,976.28 7,185,340.06
Oct-03 6,100,571.90 10,495,474.84 6,140,317.93 4,436,779.56 5,076,699.69 7,165,060.73
Nov-03 6,085,713.50 10,465,580.28 6,122,828.29 4,425,973.45 5,064,335.01 7,144,652.28
Dec-03 6,070,748.50 10,435,495.40 6,105,227.29 4,415,089.81 5,051,881.61 7,124,113.90
Jan-04 6,055,676.12 10,405,218.97 6,087,514.24 4,404,128.08 5,039,338.86 7,103,444.76
Feb-04 6,040,495.59 10,374,749.78 6,069,688.42 4,393,087.70 5,026,706.12 7,082,644.02
Mar-04 6,025,206.15 10,344,086.60 6,051,749.10 4,381,968.10 5,013,982.74 7,061,710.86
Apr-04 6,009,807.00 10,313,228.20 6,033,695.57 4,370,768.72 5,001,168.06 7,040,644.42
May-04 5,994,297.37 10,282,173.34 6,015,527.10 4,359,488.99 4,988,261.44 7,019,443.85
Jun-04 5,978,676.45 10,250,920.76 5,997,242.95 4,348,128.32 4,975,262.22 6,998,108.31
Jul-04 5,962,943.46 10,219,469.20 5,978,842.40 4,336,686.14 4,962,169.73 6,976,636.93
Aug-04 5,947,097.58 10,187,817.41 5,960,324.70 4,325,161.87 4,948,983.29 6,955,028.86
Sep-04 5,931,138.00 10,155,964.09 5,941,689.10 4,313,554.90 4,935,702.25 6,933,283.21
Oct-04 5,915,063.92 10,123,907.98 5,922,934.85 4,301,864.66 4,922,325.91 6,911,399.11
Nov-04 5,898,874.50 10,091,647.78 5,904,061.20 4,290,090.54 4,908,853.60 6,889,375.68
Dec-04 5,882,568.92 10,059,182.19 5,885,067.39 4,278,231.94 4,895,284.63 6,867,212.04
Jan-05 5,866,146.36 10,026,509.90 5,865,952.65 4,266,288.25 4,881,618.29 6,844,907.29
Feb-05 5,849,605.96 9,993,629.59 5,846,716.22 4,254,258.87 4,867,853.90 6,822,460.53
Mar-05 5,832,946.88 9,960,539.95 5,827,357.31 4,242,143.18 4,853,990.76 6,799,870.87
Apr-05 5,816,168.27 9,927,239.64 5,807,875.15 4,229,940.55 4,840,028.14 6,777,137.38
May-05 5,799,269.28 9,893,727.32 5,788,268.96 4,217,650.38 4,825,965.34 6,754,259.15
Jun-05 5,782,249.04 9,860,001.63 5,768,537.94 4,205,272.02 4,811,801.64 6,731,235.27
Jul-05 5,765,106.67 9,826,061.22 5,748,681.30 4,192,804.85 4,797,536.32 6,708,064.80
Aug-05 5,747,841.31 9,791,904.73 5,728,698.23 4,180,248.22 4,783,168.64 6,684,746.81
Sep-05 5,730,452.08 9,757,530.77 5,708,587.95 4,167,601.50 4,768,697.88 6,661,280.37
Oct-05 5,712,938.07 9,722,937.97 5,688,349.62 4,154,864.04 4,754,123.28 6,637,664.52
Nov-05 5,695,298.40 9,688,124.92 5,667,982.45 4,142,035.19 4,739,444.12 6,613,898.32
Dec-05 5,677,532.17 9,653,090.24 5,647,485.60 4,129,114.29 4,724,659.63 6,589,980.80
Jan-06 5,659,638.46 9,617,832.49 5,626,858.26 4,116,100.69 4,709,769.06 6,565,911.01
Feb-06 5,641,616.37 9,582,350.28 5,606,099.59 4,102,993.71 4,694,771.66 6,541,687.98
Mar-06 5,623,464.96 9,546,642.16 5,585,208.76 4,089,792.69 4,679,666.64 6,517,310.73
Apr-06 5,605,183.32 9,510,706.70 5,564,184.92 4,076,496.95 4,664,453.25 6,492,778.27
May-06 5,586,770.51 9,474,542.45 5,543,027.23 4,063,105.82 4,649,130.70 6,468,089.63
Jun-06 5,568,225.59 9,438,147.95 5,521,734.84 4,049,618.60 4,633,698.22 6,443,243.80
Jul-06 5,549,547.61 9,401,521.74 5,500,306.89 4,036,034.62 4,618,155.00 6,418,239.78
Aug-06 5,530,735.62 9,364,662.35 5,478,742.51 4,022,353.17 4,602,500.26 6,393,076.58
Sep-06 5,511,788.64 9,327,568.28 5,457,040.83 4,008,573.55 4,586,733.20 6,367,753.16
Oct-06 5,492,705.73 9,290,238.05 5,435,200.99 3,994,695.06 4,570,853.01 6,342,268.53
<CAPTION>
POOL ID 12 13 14
-- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY
----------------------------------------------------------
KENTWOOD BOARDMAN MONROEVILLE
MI OH PA
----------------------------------------------------------
MAR-98 BALANCE 5,661,718.21 5,464,462.52 9,557,521.11
----------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640%
----------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH
----------------------------------------------------------
<S> <C> <C> <C>
Dec-01 5,187,883.09 5,007,135.93 8,757,641.99
Jan-02 5,175,739.86 4,995,415.78 8,737,143.06
Feb-02 5,163,519.32 4,983,621.01 8,716,513.62
Mar-02 5,151,220.98 4,971,751.14 8,695,752.83
Apr-02 5,138,844.34 4,959,805.70 8,674,859.87
May-02 5,126,388.89 4,947,784.21 8,653,833.90
Jun-02 5,113,854.15 4,935,686.19 8,632,674.05
Jul-02 5,101,239.61 4,923,511.13 8,611,379.49
Aug-02 5,088,544.75 4,911,258.57 8,589,949.35
Sep-02 5,075,769.07 4,898,927.99 8,568,382.78
Oct-02 5,062,912.05 4,886,518.92 8,546,678.89
Nov-02 5,049,973.17 4,874,030.83 8,524,836.83
Dec-02 5,036,951.92 4,861,463.24 8,502,855.70
Jan-03 5,023,847.76 4,848,815.64 8,480,734.63
Feb-03 5,010,660.18 4,836,087.51 8,458,472.72
Mar-03 4,997,388.63 4,823,278.35 8,436,069.08
Apr-03 4,984,032.59 4,810,387.63 8,413,522.80
May-03 4,970,591.51 4,797,414.85 8,390,832.97
Jun-03 4,957,064.86 4,784,359.47 8,367,998.69
Jul-03 4,943,452.09 4,771,220.97 8,345,019.03
Aug-03 4,929,752.65 4,757,998.83 8,321,893.06
Sep-03 4,915,965.99 4,744,692.50 8,298,619.86
Oct-03 4,902,091.56 4,731,301.45 8,275,198.49
Nov-03 4,888,128.79 4,717,825.15 8,251,628.00
Dec-03 4,874,077.13 4,704,263.05 8,227,907.44
Jan-04 4,859,936.00 4,690,614.61 8,204,035.87
Feb-04 4,845,704.85 4,676,879.27 8,180,012.31
Mar-04 4,831,383.08 4,663,056.48 8,155,835.80
Apr-04 4,816,970.14 4,649,145.69 8,131,505.37
May-04 4,802,465.43 4,635,146.33 8,107,020.03
Jun-04 4,787,868.38 4,621,057.84 8,082,378.81
Jul-04 4,773,178.39 4,606,879.65 8,057,580.70
Aug-04 4,758,394.88 4,592,611.20 8,032,624.71
Sep-04 4,743,517.24 4,578,251.90 8,007,509.83
Oct-04 4,728,544.88 4,563,801.19 7,982,235.06
Nov-04 4,713,477.20 4,549,258.47 7,956,799.37
Dec-04 4,698,313.59 4,534,623.16 7,931,201.74
Jan-05 4,683,053.44 4,519,894.68 7,905,441.14
Feb-05 4,667,696.13 4,505,072.42 7,879,516.52
Mar-05 4,652,241.04 4,490,155.79 7,853,426.86
Apr-05 4,636,687.56 4,475,144.20 7,827,171.09
May-05 4,621,035.06 4,460,037.03 7,800,748.16
Jun-05 4,605,282.90 4,444,833.68 7,774,157.00
Jul-05 4,589,430.45 4,429,533.53 7,747,396.55
Aug-05 4,573,477.07 4,414,135.98 7,720,465.72
Sep-05 4,557,422.12 4,398,640.39 7,693,363.43
Oct-05 4,541,264.96 4,383,046.15 7,666,088.59
Nov-05 4,525,004.93 4,367,352.62 7,638,640.10
Dec-05 4,508,641.38 4,351,559.18 7,611,016.86
Jan-06 4,492,173.65 4,335,665.18 7,583,217.75
Feb-06 4,475,601.07 4,319,670.00 7,555,241.65
Mar-06 4,458,922.98 4,303,572.98 7,527,087.43
Apr-06 4,442,138.71 4,287,373.47 7,498,753.97
May-06 4,425,247.57 4,271,070.83 7,470,240.12
Jun-06 4,408,248.90 4,254,664.40 7,441,544.72
Jul-06 4,391,142.00 4,238,153.51 7,412,666.64
Aug-06 4,373,926.19 4,221,537.50 7,383,604.70
Sep-06 4,356,600.77 4,204,815.70 7,354,357.73
Oct-06 4,339,165.04 4,187,987.44 7,324,924.55
</TABLE>
Page 2
<PAGE>
BALANCE
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5
- - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL
-----------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2)
-----------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45
-----------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570%
-----------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Nov-06 8,173,632.96 29,548,600.18 59,874,062.29 15,759,151.09 2,626,770.13
Dec-06 8,173,632.96 29,548,600.18 59,427,695.63 15,704,911.49 2,616,367.55
Jan-07 8,110,015.19 29,108,326.82 59,427,695.63 15,650,353.23 2,605,908.01
Feb-07 8,110,015.19 29,108,326.82 59,427,695.63 15,595,474.45 2,595,391.21
Mar-07 8,110,015.19 29,108,326.82 58,973,640.31 15,540,273.25 2,584,816.82
Apr-07 8,045,145.74 28,660,315.65 58,973,640.31 15,484,747.75 2,574,184.55
May-07 8,045,145.74 28,660,315.65 58,973,640.31 15,428,896.03 2,563,494.06
Jun-07 8,045,145.74 28,660,315.65 58,511,763.88 15,372,716.18 2,552,745.04
Jul-07 7,978,999.98 28,204,430.69 58,511,763.88 15,316,206.28 2,541,937.17
Aug-07 7,978,999.98 28,204,430.69 58,511,763.88 15,259,364.38 2,531,070.12
Sep-07 7,978,999.98 28,204,430.69 58,041,931.63 15,202,188.54 2,520,143.58
Oct-07 7,911,552.80 27,740,533.55 58,041,931.63 15,144,676.79 2,509,157.22
Nov-07 7,911,552.80 27,740,533.55 58,041,931.63 15,086,827.15 2,498,110.70
Dec-07 7,911,552.80 27,740,533.55 57,564,006.52 15,028,637.65 2,487,003.71
Jan-08 7,800,136.14 27,268,483.42 57,564,006.52 14,970,106.29 2,475,835.90
Feb-08 7,800,136.14 27,268,483.42 57,564,006.52 14,911,231.05 2,464,606.96
Mar-08 7,800,136.14 27,268,483.42 57,077,849.15 14,852,009.93 2,453,316.53
Apr-08 7,686,527.36 26,788,137.01 57,077,849.15 14,792,440.87 2,441,964.29
May-08 7,686,527.36 26,788,137.01 57,077,849.15 14,732,521.85 2,430,549.89
Jun-08 7,686,527.36 26,788,137.01 56,583,317.72 14,672,250.81 2,419,073.00
Jul-08 7,570,683.33 26,299,348.51 56,583,317.72 14,611,625.67 2,407,533.28
Aug-08 7,570,683.33 26,299,348.51 56,583,317.72 14,550,644.36 2,395,930.37
Sep-08 7,570,683.33 26,299,348.51 56,080,267.99 14,489,304.79 2,384,263.94
Oct-08 7,452,560.06 25,801,969.55 56,080,267.99 14,427,604.85 2,372,533.64
Nov-08 7,452,560.06 25,801,969.55 56,080,267.99 14,365,542.41 2,360,739.11
Dec-08 7,452,560.06 25,801,969.55 55,568,553.23 14,303,115.37 2,348,880.00
Jan-09 7,332,112.72 25,295,849.15 55,568,553.23 14,240,321.56 2,336,955.97
Feb-09 7,332,112.72 25,295,849.15 55,568,553.23 14,177,158.84 2,324,966.66
Mar-09 7,332,112.72 25,295,849.15 55,048,024.18 14,113,625.04 2,312,911.70
Apr-09 7,209,295.58 24,780,833.69 55,048,024.18 14,049,717.97 2,300,790.74
May-09 7,209,295.58 24,780,833.69 55,048,024.18 13,985,435.46 2,288,603.42
Jun-09 7,209,295.58 24,780,833.69 54,518,529.02 13,920,775.28 2,276,349.37
Jul-09 7,084,062.01 24,256,766.83 54,518,529.02 13,855,735.22 2,264,028.24
Aug-09 7,084,062.01 24,256,766.83 54,518,529.02 13,790,313.06 2,251,639.64
Sep-09 7,084,062.01 24,256,766.83 53,699,150.80 13,724,506.54 2,239,183.22
Oct-09 6,956,364.47 23,723,489.50 53,699,150.80 13,658,313.40 2,226,658.60
Nov-09 6,956,364.47 23,723,489.50 53,699,150.80 13,591,731.39 2,214,065.40
Dec-09 6,956,364.47 23,723,489.50 52,865,658.79 13,524,758.20 2,201,403.26
Jan-10 6,826,154.48 23,180,839.82 52,865,658.79 13,457,391.54 2,188,671.79
Feb-10 6,826,154.48 23,180,839.82 52,865,658.79 13,389,629.11 2,175,870.62
Mar-10 6,826,154.48 23,180,839.82 52,017,809.88 13,321,468.57 2,162,999.36
Apr-10 6,693,382.61 22,628,653.07 52,017,809.88 13,252,907.59 2,150,057.63
May-10 6,693,382.61 22,628,653.07 52,017,809.88 13,183,943.81 2,137,045.05
Jun-10 6,693,382.61 22,628,653.07 51,155,356.78 13,114,574.87 2,123,961.22
Jul-10 6,557,998.45 22,066,761.64 51,155,356.78 13,044,798.39 2,110,805.76
Aug-10 6,557,998.45 22,066,761.64 51,155,356.78 12,974,611.97 2,097,578.27
Sep-10 6,557,998.45 22,066,761.64 50,278,047.92 12,904,013.20 2,084,278.36
Oct-10 6,419,950.61 21,494,994.97 50,278,047.92 12,832,999.67 2,070,905.63
Nov-10 6,419,950.61 21,494,994.97 50,278,047.92 12,761,568.93 2,057,459.69
Dec-10 6,419,950.61 21,494,994.97 49,385,627.42 12,689,718.54 2,043,940.13
Jan-11 6,279,186.68 20,913,179.50 49,385,627.42 12,617,446.03 2,030,346.56
Feb-11 6,279,186.68 20,913,179.50 49,385,627.42 12,544,748.91 2,016,678.55
Mar-11 6,279,186.68 20,913,179.50 48,477,834.97 12,471,624.70 2,002,935.72
Apr-11 6,135,653.22 20,321,138.62 48,477,834.97 12,398,070.89 1,989,117.64
May-11 6,135,653.22 20,321,138.62 48,477,834.97 12,324,084.94 1,975,223.91
Jun-11 6,135,653.22 20,321,138.62 47,554,405.80 12,249,664.33 1,961,254.11
Jul-11 5,989,295.74 19,718,692.62 47,554,405.80 12,174,806.50 1,947,207.83
Aug-11 5,989,295.74 19,718,692.62 47,554,405.80 12,099,508.88 1,933,084.64
Sep-11 5,989,295.74 19,718,692.62 46,615,070.56 12,023,768.88 1,918,884.13
<CAPTION>
POOL ID 6 7 8 9 10 11
- - - - -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
-------------------------------------------------------------------------------------------------------------------
DENVER ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND
CO FL FL IL KS MI
-------------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 6,888,745.84 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41
-------------------------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 7.640% 7.640% 8.610% 8.610% 7.640%
-------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Nov-06 5,473,485.89 9,252,670.15 5,413,222.11 3,980,717.00 4,554,858.88 6,316,621.64
Dec-06 5,454,128.15 9,214,863.06 5,391,103.29 3,966,638.65 4,538,750.00 6,290,811.46
Jan-07 5,434,631.52 9,176,815.28 5,368,843.64 3,952,459.28 4,522,525.53 6,264,836.96
Feb-07 5,414,995.00 9,138,525.25 5,346,442.28 3,938,178.17 4,506,184.65 6,238,697.09
Mar-07 5,395,217.59 9,099,991.44 5,323,898.30 3,923,794.60 4,489,726.52 6,212,390.79
Apr-07 5,375,298.28 9,061,212.31 5,301,210.78 3,909,307.83 4,473,150.31 6,185,917.01
May-07 5,355,236.04 9,022,186.27 5,278,378.83 3,894,717.11 4,456,455.16 6,159,274.69
Jun-07 5,335,029.86 8,982,911.78 5,255,401.50 3,880,021.71 4,439,640.23 6,132,462.74
Jul-07 5,314,678.70 8,943,387.23 5,232,277.89 3,865,220.86 4,422,704.65 6,105,480.08
Aug-07 5,294,181.52 8,903,611.05 5,209,007.06 3,850,313.82 4,405,647.55 6,078,325.64
Sep-07 5,273,537.27 8,863,581.62 5,185,588.08 3,835,299.82 4,388,468.08 6,050,998.31
Oct-07 5,252,744.90 8,823,297.34 5,162,019.99 3,820,178.10 4,371,165.33 6,023,497.00
Nov-07 5,231,803.35 8,782,756.58 5,138,301.85 3,804,947.88 4,353,738.45 5,995,820.60
Dec-07 5,210,711.54 8,741,957.72 5,114,432.70 3,789,608.38 4,336,186.52 5,967,967.99
Jan-08 5,189,468.39 8,700,899.10 5,090,411.59 3,774,158.82 4,318,508.66 5,939,938.05
Feb-08 5,168,072.83 8,659,579.07 5,066,237.54 3,758,598.41 4,300,703.96 5,911,729.66
Mar-08 5,146,523.75 8,617,995.97 5,041,909.59 3,742,926.35 4,282,771.51 5,883,341.67
Apr-08 5,124,820.06 8,576,148.13 5,017,426.75 3,727,141.85 4,264,710.39 5,854,772.95
May-08 5,102,960.64 8,534,033.86 4,992,788.03 3,711,244.09 4,246,519.69 5,826,022.33
Jun-08 5,080,944.38 8,491,651.46 4,967,992.45 3,695,232.27 4,228,198.47 5,797,088.68
Jul-08 5,058,770.16 8,448,999.22 4,943,039.00 3,679,105.56 4,209,745.79 5,767,970.81
Aug-08 5,036,436.84 8,406,075.43 4,917,926.68 3,662,863.14 4,191,160.72 5,738,667.55
Sep-08 5,013,943.27 8,362,878.36 4,892,654.48 3,646,504.19 4,172,442.30 5,709,177.74
Oct-08 4,991,288.31 8,319,406.27 4,867,221.38 3,630,027.85 4,153,589.57 5,679,500.17
Nov-08 4,968,470.81 8,275,657.41 4,841,626.36 3,613,433.30 4,134,601.58 5,649,633.65
Dec-08 4,945,489.59 8,231,630.01 4,815,868.38 3,596,719.69 4,115,477.34 5,619,576.99
Jan-09 4,922,343.47 8,187,322.31 4,789,946.41 3,579,886.15 4,096,215.89 5,589,328.96
Feb-09 4,899,031.29 8,142,732.51 4,763,859.40 3,562,931.83 4,076,816.24 5,558,888.36
Mar-09 4,875,551.84 8,097,858.82 4,737,606.30 3,545,855.87 4,057,277.40 5,528,253.94
Apr-09 4,851,903.92 8,052,699.44 4,711,186.06 3,528,657.39 4,037,598.36 5,497,424.49
May-09 4,828,086.33 8,007,252.54 4,684,597.62 3,511,335.50 4,017,778.13 5,466,398.76
Jun-09 4,804,097.85 7,961,516.30 4,657,839.89 3,493,889.33 3,997,815.69 5,435,175.50
Jul-09 4,779,937.25 7,915,488.87 4,630,911.80 3,476,317.99 3,977,710.02 5,403,753.45
Aug-09 4,755,603.30 7,869,168.40 4,603,812.27 3,458,620.57 3,957,460.09 5,372,131.35
Sep-09 4,731,094.76 7,822,553.02 4,576,540.21 3,440,796.17 3,937,064.86 5,340,307.92
Oct-09 4,706,410.36 7,775,640.86 4,549,094.52 3,422,843.89 3,916,523.30 5,308,281.88
Nov-09 4,681,548.86 7,728,430.02 4,521,474.09 3,404,762.79 3,895,834.36 5,276,051.94
Dec-09 4,656,508.97 7,680,918.61 4,493,677.80 3,386,551.97 3,874,996.97 5,243,616.81
Jan-10 4,631,289.42 7,633,104.71 4,465,704.55 3,368,210.48 3,854,010.07 5,210,975.17
Feb-10 4,605,888.92 7,584,986.39 4,437,553.20 3,349,737.39 3,832,872.59 5,178,125.71
Mar-10 4,580,306.18 7,536,561.72 4,409,222.63 3,331,131.75 3,811,583.46 5,145,067.11
Apr-10 4,554,539.87 7,487,828.75 4,380,711.68 3,312,392.62 3,790,141.57 5,111,798.04
May-10 4,528,588.70 7,438,785.51 4,352,019.21 3,293,519.04 3,768,545.83 5,078,317.15
Jun-10 4,502,451.32 7,389,430.03 4,323,144.06 3,274,510.04 3,746,795.15 5,044,623.10
Jul-10 4,476,126.41 7,339,760.31 4,294,085.08 3,255,364.65 3,724,888.40 5,010,714.54
Aug-10 4,449,612.62 7,289,774.37 4,264,841.09 3,236,081.89 3,702,824.48 4,976,590.09
Sep-10 4,422,908.59 7,239,470.19 4,235,410.91 3,216,660.78 3,680,602.24 4,942,248.38
Oct-10 4,396,012.96 7,188,845.73 4,205,793.36 3,197,100.32 3,658,220.57 4,907,688.02
Nov-10 4,368,924.35 7,137,898.96 4,175,987.25 3,177,399.51 3,635,678.30 4,872,907.64
Dec-10 4,341,641.38 7,086,627.84 4,145,991.36 3,157,557.35 3,612,974.29 4,837,905.82
Jan-11 4,314,162.66 7,035,030.28 4,115,804.51 3,137,572.83 3,590,107.38 4,802,681.15
Feb-11 4,286,486.77 6,983,104.23 4,085,425.46 3,117,444.91 3,567,076.40 4,767,232.22
Mar-11 4,258,612.32 6,930,847.57 4,054,853.01 3,097,172.58 3,543,880.17 4,731,557.60
Apr-11 4,230,537.86 6,878,258.22 4,024,085.90 3,076,754.79 3,520,517.51 4,695,655.85
May-11 4,202,261.97 6,825,334.05 3,993,122.92 3,056,190.51 3,496,987.23 4,659,525.52
Jun-11 4,173,783.20 6,772,072.92 3,961,962.80 3,035,478.68 3,473,288.11 4,623,165.17
Jul-11 4,145,100.09 6,718,472.71 3,930,604.30 3,014,618.24 3,449,418.95 4,586,573.32
Aug-11 4,116,211.19 6,664,531.23 3,899,046.14 2,993,608.12 3,425,378.53 4,549,748.50
Sep-11 4,087,115.00 6,610,246.33 3,867,287.07 2,972,447.26 3,401,165.62 4,512,689.24
<CAPTION>
POOL ID 12 13 14
-- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY
----------------------------------------------------------
KENTWOOD BOARDMAN MONROEVILLE
MI OH PA
----------------------------------------------------------
MAR-98 BALANCE 5,661,718.21 5,464,462.52 9,557,521.11
----------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640%
----------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH
----------------------------------------------------------
<S> <C> <C> <C>
Nov-06 4,321,618.31 4,171,052.04 7,295,303.98
Dec-06 4,303,959.86 4,154,008.82 7,265,494.83
Jan-07 4,286,188.99 4,136,857.09 7,235,495.90
Feb-07 4,268,304.98 4,119,596.16 7,205,305.97
Mar-07 4,250,307.10 4,102,225.33 7,174,923.83
Apr-07 4,232,194.64 4,084,743.91 7,144,348.26
May-07 4,213,966.86 4,067,151.20 7,113,578.02
Jun-07 4,195,623.04 4,049,446.47 7,082,611.88
Jul-07 4,177,162.42 4,031,629.03 7,051,448.59
Aug-07 4,158,584.27 4,013,698.15 7,020,086.89
Sep-07 4,139,887.84 3,995,653.10 6,988,525.53
Oct-07 4,121,072.38 3,977,493.18 6,956,763.22
Nov-07 4,102,137.12 3,959,217.63 6,924,798.69
Dec-07 4,083,081.31 3,940,825.73 6,892,630.66
Jan-08 4,063,904.18 3,922,316.73 6,860,257.82
Feb-08 4,044,604.95 3,903,689.89 6,827,678.87
Mar-08 4,025,182.85 3,884,944.47 6,794,892.51
Apr-08 4,005,637.10 3,866,079.69 6,761,897.40
May-08 3,985,966.91 3,847,094.81 6,728,692.23
Jun-08 3,966,171.48 3,827,989.06 6,695,275.65
Jul-08 3,946,250.02 3,808,761.67 6,661,646.32
Aug-08 3,926,201.73 3,789,411.87 6,627,802.88
Sep-08 3,906,025.80 3,769,938.87 6,593,743.97
Oct-08 3,885,721.41 3,750,341.90 6,559,468.22
Nov-08 3,865,287.75 3,730,620.15 6,524,974.25
Dec-08 3,844,724.00 3,710,772.85 6,490,260.67
Jan-09 3,824,029.33 3,690,799.18 6,455,326.07
Feb-09 3,803,202.90 3,670,698.35 6,420,169.06
Mar-09 3,782,243.87 3,650,469.54 6,384,788.22
Apr-09 3,761,151.41 3,630,111.95 6,349,182.12
May-09 3,739,924.66 3,609,624.74 6,313,349.32
Jun-09 3,718,562.76 3,589,007.10 6,277,288.39
Jul-09 3,697,064.86 3,568,258.19 6,240,997.88
Aug-09 3,675,430.09 3,547,377.18 6,204,476.31
Sep-09 3,653,657.58 3,526,363.23 6,167,722.22
Oct-09 3,631,746.45 3,505,215.49 6,130,734.13
Nov-09 3,609,695.82 3,483,933.10 6,093,510.55
Dec-09 3,587,504.80 3,462,515.23 6,056,049.98
Jan-10 3,565,172.49 3,440,960.99 6,018,350.91
Feb-10 3,542,698.01 3,419,269.52 5,980,411.83
Mar-10 3,520,080.44 3,397,439.95 5,942,231.20
Apr-10 3,497,318.86 3,375,471.39 5,903,807.48
May-10 3,474,412.38 3,353,362.98 5,865,139.14
Jun-10 3,451,360.05 3,331,113.80 5,826,224.60
Jul-10 3,428,160.96 3,308,722.97 5,787,062.31
Aug-10 3,404,814.17 3,286,189.59 5,747,650.69
Sep-10 3,381,318.74 3,263,512.74 5,707,988.15
Oct-10 3,357,673.72 3,240,691.52 5,668,073.08
Nov-10 3,333,878.16 3,217,725.00 5,627,903.90
Dec-10 3,309,931.10 3,194,612.26 5,587,478.96
Jan-11 3,285,831.58 3,171,352.37 5,546,796.66
Feb-11 3,261,578.62 3,147,944.40 5,505,855.35
Mar-11 3,237,171.25 3,124,387.39 5,464,653.37
Apr-11 3,212,608.49 3,100,680.40 5,423,189.08
May-11 3,187,889.35 3,076,822.48 5,381,460.79
Jun-11 3,163,012.83 3,052,812.67 5,339,466.84
Jul-11 3,137,977.93 3,028,649.99 5,297,205.53
Aug-11 3,112,783.64 3,004,333.47 5,254,675.15
Sep-11 3,087,428.94 2,979,862.14 5,211,873.99
</TABLE>
Page 3
<PAGE>
BALANCE
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5
- - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL
------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2)
------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45
------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570%
------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Oct-11 5,840,058.67 19,105,658.63 46,615,070.56 11,947,583.91 1,904,605.87
Nov-11 5,840,058.67 19,105,658.63 46,615,070.56 11,870,951.36 1,890,249.44
Dec-11 5,840,058.67 19,105,658.63 45,659,555.27 11,793,868.59 1,875,814.40
Jan-12 5,687,885.36 18,300,165.98 45,659,555.27 11,716,332.96 1,861,300.34
Feb-12 5,687,885.36 18,300,165.98 45,659,555.27 11,638,341.80 1,846,706.81
Mar-12 5,687,885.36 18,300,165.98 44,687,581.23 11,559,892.45 1,832,033.38
Apr-12 5,532,718.05 17,480,516.80 44,687,581.23 11,480,982.21 1,817,279.61
May-12 5,532,718.05 17,480,516.80 44,687,581.23 11,401,608.37 1,802,445.06
Jun-12 5,532,718.05 17,480,516.80 43,698,864.94 11,321,768.21 1,787,529.30
Jul-12 5,374,497.82 16,646,462.28 43,698,864.94 11,241,458.99 1,772,531.87
Aug-12 5,374,497.82 16,646,462.28 43,698,864.94 11,160,677.95 1,757,452.34
Sep-12 5,374,497.82 16,646,462.28 42,693,118.01 11,079,422.32 1,742,290.24
Oct-12 5,213,164.61 15,797,749.25 42,693,118.01 10,997,689.32 1,727,045.13
Nov-12 5,213,164.61 15,797,749.25 42,693,118.01 10,915,476.13 1,711,716.55
Dec-12 5,213,164.61 15,797,749.25 41,670,047.09 10,832,779.94 1,696,304.05
Jan-13 4,997,912.63 14,934,120.09 41,670,047.09 10,749,597.92 1,680,807.16
Feb-13 4,997,912.63 14,934,120.09 41,670,047.09 10,665,927.19 1,665,225.43
Mar-13 4,997,912.63 14,934,120.09 40,629,353.77 10,581,764.91 1,649,558.39
Apr-13 4,778,425.57 14,055,312.65 40,629,353.77 10,497,108.17 1,633,805.57
May-13 4,778,425.57 14,055,312.65 40,629,353.77 10,411,954.07 1,617,966.51
Jun-13 4,778,425.57 14,055,312.65 39,570,734.51 10,326,299.69 1,602,040.72
Jul-13 4,554,620.10 13,161,060.17 39,570,734.51 10,240,142.09 1,586,027.75
Aug-13 4,554,620.10 13,161,060.17 39,570,734.51 10,153,478.31 1,569,927.10
Sep-13 4,554,620.10 13,161,060.17 38,493,880.53 10,066,305.39 1,553,738.30
Oct-13 4,326,411.26 12,251,091.20 38,493,880.53 9,978,620.32 1,537,460.87
Nov-13 4,326,411.26 12,251,091.20 38,493,880.53 9,890,420.11 1,521,094.32
Dec-13 4,326,411.26 12,251,091.20 37,398,477.74 9,801,701.71 1,504,638.16
Jan-14 4,093,712.41 11,325,129.53 37,398,477.74 9,712,462.10 1,488,091.90
Feb-14 4,093,712.41 11,325,129.53 37,398,477.74 9,622,698.21 1,471,455.05
Mar-14 4,093,712.41 11,325,129.53 36,284,206.64 9,532,406.95 1,454,727.12
Apr-14 3,856,435.21 10,382,894.08 36,284,206.64 9,441,585.23 1,437,907.60
May-14 3,856,435.21 10,382,894.08 36,284,206.64 9,350,229.93 1,420,996.00
Jun-14 3,856,435.21 10,382,894.08 35,150,742.22 9,258,337.92 1,403,991.80
Jul-14 3,614,489.58 9,424,098.84 35,150,742.22 9,165,906.05 1,386,894.50
Aug-14 3,614,489.58 9,424,098.84 35,150,742.22 9,072,931.14 1,369,703.60
Sep-14 3,614,489.58 9,424,098.84 33,663,646.51 8,979,410.00 1,352,418.58
Oct-14 3,367,783.67 8,448,452.78 33,663,646.51 8,885,339.42 1,335,038.92
Nov-14 3,367,783.67 8,448,452.78 33,663,646.51 8,790,716.18 1,317,564.11
Dec-14 3,367,783.67 8,448,452.78 32,150,935.57 8,695,537.03 1,299,993.62
Jan-15 3,116,223.82 7,455,659.74 32,150,935.57 8,599,798.70 1,282,326.94
Feb-15 3,116,223.82 7,455,659.74 32,150,935.57 8,503,497.90 1,264,563.53
Mar-15 3,116,223.82 7,455,659.74 30,612,168.19 8,406,631.34 1,246,702.86
Apr-15 2,859,714.53 6,445,418.36 30,612,168.19 8,309,195.69 1,228,744.41
May-15 2,859,714.53 6,445,418.36 30,612,168.19 8,211,187.61 1,210,687.64
Jun-15 2,859,714.53 6,445,418.36 29,046,895.54 8,112,603.73 1,192,532.00
Jul-15 2,598,158.42 5,417,421.99 29,046,895.54 8,013,440.66 1,174,276.96
Aug-15 2,598,158.42 5,417,421.99 29,046,895.54 7,913,695.02 1,155,921.98
Sep-15 2,598,158.42 5,417,421.99 27,454,661.07 7,813,363.36 1,137,466.50
Oct-15 2,331,456.20 4,371,358.58 27,454,661.07 7,712,442.26 1,118,909.98
Nov-15 2,331,456.20 4,371,358.58 27,454,661.07 7,610,928.25 1,100,251.86
Dec-15 2,331,456.20 4,371,358.58 25,835,000.36 7,508,817.85 1,081,491.59
Jan-16 2,059,506.61 3,306,910.61 25,835,000.36 7,406,107.54 1,062,628.61
Feb-16 2,059,506.61 3,306,910.61 25,835,000.36 7,302,793.81 1,043,662.35
Mar-16 2,059,506.61 3,306,910.61 24,187,440.99 7,198,873.12 1,024,592.25
Apr-16 1,782,206.41 2,223,754.96 24,187,440.99 7,094,341.89 1,005,417.75
May-16 1,782,206.41 2,223,754.96 24,187,440.99 6,989,196.53 986,138.26
Jun-16 1,782,206.41 2,223,754.96 22,511,502.41 6,883,433.45 966,753.21
Jul-16 1,499,450.33 1,121,562.85 22,511,502.41 6,777,049.02 947,262.04
Aug-16 1,499,450.33 1,121,562.85 22,511,502.41 6,670,039.57 927,664.15
<CAPTION>
POOL ID 6 7 8 9 10 11
- - - - -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
------------------------------------------------------------------------------------------------------------------
DENVER ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND
CO FL FL IL KS MI
------------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 6,888,745.84 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41
------------------------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 7.640% 7.640% 8.610% 8.610% 7.640%
------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Oct-11 4,057,810.05 6,555,615.82 3,835,325.80 2,951,134.57 3,376,778.99 4,475,394.02
Nov-11 4,028,294.84 6,500,637.49 3,803,161.04 2,929,668.96 3,352,217.38 4,437,861.37
Dec-11 3,998,567.85 6,445,309.13 3,770,791.50 2,908,049.33 3,327,479.54 4,400,089.75
Jan-12 3,968,627.58 6,389,628.51 3,738,215.87 2,886,274.59 3,302,564.20 4,362,077.66
Feb-12 3,938,472.48 6,333,593.40 3,705,432.85 2,864,343.61 3,277,470.10 4,323,823.55
Mar-12 3,908,101.02 6,277,201.53 3,672,441.10 2,842,255.27 3,252,195.95 4,285,325.89
Apr-12 3,877,511.65 6,220,450.63 3,639,239.31 2,820,008.46 3,226,740.45 4,246,583.13
May-12 3,846,702.79 6,163,338.41 3,605,826.13 2,797,602.02 3,201,102.32 4,207,593.71
Jun-12 3,815,672.89 6,105,862.58 3,572,200.23 2,775,034.81 3,175,280.23 4,168,356.06
Jul-12 3,784,420.34 6,048,020.82 3,538,360.23 2,752,305.68 3,149,272.86 4,128,868.59
Aug-12 3,752,943.55 5,989,810.81 3,504,304.79 2,729,413.48 3,123,078.89 4,089,129.72
Sep-12 3,721,240.92 5,931,230.19 3,470,032.53 2,706,357.02 3,096,696.99 4,049,137.85
Oct-12 3,689,310.83 5,872,276.60 3,435,542.08 2,683,135.13 3,070,125.79 4,008,891.36
Nov-12 3,657,151.63 5,812,947.68 3,400,832.03 2,659,746.63 3,043,363.94 3,968,388.64
Dec-12 3,624,761.70 5,753,241.03 3,365,900.99 2,636,190.31 3,016,410.08 3,927,628.04
Jan-13 3,592,139.36 5,693,154.25 3,330,747.56 2,612,464.97 2,989,262.82 3,886,607.94
Feb-13 3,559,282.96 5,632,684.91 3,295,370.32 2,588,569.41 2,961,920.78 3,845,326.68
Mar-13 3,526,190.82 5,571,830.59 3,259,767.84 2,564,502.40 2,934,382.56 3,803,782.59
Apr-13 3,492,861.24 5,510,588.83 3,223,938.70 2,540,262.70 2,906,646.75 3,761,974.01
May-13 3,459,292.51 5,448,957.16 3,187,881.44 2,515,849.08 2,878,711.95 3,719,899.24
Jun-13 3,425,482.94 5,386,933.10 3,151,594.62 2,491,260.30 2,850,576.70 3,677,556.60
Jul-13 3,391,430.78 5,324,514.16 3,115,076.77 2,466,495.09 2,822,239.59 3,634,944.38
Aug-13 3,357,134.29 5,261,697.82 3,078,326.43 2,441,552.20 2,793,699.16 3,592,060.86
Sep-13 3,322,591.73 5,198,481.54 3,041,342.11 2,416,430.33 2,764,953.95 3,548,904.31
Oct-13 3,287,801.33 5,134,862.79 3,004,122.32 2,391,128.22 2,736,002.50 3,505,473.00
Nov-13 3,252,761.30 5,070,839.00 2,966,665.56 2,365,644.57 2,706,843.31 3,461,765.18
Dec-13 3,217,469.87 5,006,407.59 2,928,970.33 2,339,978.07 2,677,474.92 3,417,779.09
Jan-14 3,181,925.21 4,941,565.97 2,891,035.11 2,314,127.41 2,647,895.80 3,373,512.95
Feb-14 3,146,125.53 4,876,311.53 2,852,858.37 2,288,091.27 2,618,104.45 3,328,964.98
Mar-14 3,110,068.98 4,810,641.63 2,814,438.57 2,261,868.33 2,588,099.35 3,284,133.39
Apr-14 3,073,753.72 4,744,553.63 2,775,774.16 2,235,457.23 2,557,878.96 3,239,016.37
May-14 3,037,177.90 4,678,044.87 2,736,863.59 2,208,856.64 2,527,441.74 3,193,612.11
Jun-14 3,000,339.66 4,611,112.67 2,697,705.29 2,182,065.19 2,496,786.14 3,147,918.77
Jul-14 2,963,237.09 4,543,754.34 2,658,297.68 2,155,081.50 2,465,910.58 3,101,934.52
Aug-14 2,925,868.32 4,475,967.16 2,618,639.17 2,127,904.21 2,434,813.49 3,055,657.51
Sep-14 2,888,231.42 4,407,748.40 2,578,728.17 2,100,531.93 2,403,493.27 3,009,085.86
Oct-14 2,850,324.48 4,339,095.31 2,538,563.08 2,072,963.24 2,371,948.34 2,962,217.70
Nov-14 2,812,145.56 4,270,005.14 2,498,142.26 2,045,196.75 2,340,177.07 2,915,051.16
Dec-14 2,773,692.71 4,200,475.09 2,457,464.10 2,017,231.04 2,308,177.84 2,867,584.32
Jan-15 2,734,963.95 4,130,502.36 2,416,526.96 1,989,064.67 2,275,949.01 2,819,815.27
Feb-15 2,695,957.32 4,060,084.14 2,375,329.18 1,960,696.21 2,243,488.95 2,771,742.09
Mar-15 2,656,670.81 3,989,217.60 2,333,869.11 1,932,124.21 2,210,795.98 2,723,362.85
Apr-15 2,617,102.42 3,917,899.86 2,292,145.07 1,903,347.20 2,177,868.44 2,674,675.60
May-15 2,577,250.13 3,846,128.08 2,250,155.40 1,874,363.71 2,144,704.65 2,625,678.36
Jun-15 2,537,111.90 3,773,899.34 2,207,898.39 1,845,172.27 2,111,302.90 2,576,369.18
Jul-15 2,496,685.68 3,701,210.75 2,165,372.34 1,815,771.39 2,077,661.50 2,526,746.07
Aug-15 2,455,969.40 3,628,059.38 2,122,575.54 1,786,159.55 2,043,778.72 2,476,807.02
Sep-15 2,414,960.98 3,554,442.27 2,079,506.27 1,756,335.24 2,009,652.84 2,426,550.02
Oct-15 2,373,658.33 3,480,356.47 2,036,162.80 1,726,296.95 1,975,282.10 2,375,973.06
Nov-15 2,332,059.33 3,405,798.99 1,992,543.37 1,696,043.13 1,940,664.74 2,325,074.08
Dec-15 2,290,161.85 3,330,766.83 1,948,646.23 1,665,572.24 1,905,799.01 2,273,851.06
Jan-16 2,247,963.76 3,255,256.96 1,904,469.61 1,634,882.72 1,870,683.12 2,222,301.91
Feb-16 2,205,462.90 3,179,266.35 1,860,011.73 1,603,973.00 1,835,315.27 2,170,424.56
Mar-16 2,162,657.10 3,102,791.92 1,815,270.81 1,572,841.51 1,799,693.66 2,118,216.93
Apr-16 2,119,544.16 3,025,830.62 1,770,245.03 1,541,486.64 1,763,816.46 2,065,676.91
May-16 2,076,121.89 2,948,379.32 1,724,932.59 1,509,906.81 1,727,681.85 2,012,802.39
Jun-16 2,032,388.07 2,870,434.92 1,679,331.66 1,478,100.39 1,691,287.96 1,959,591.23
Jul-16 1,988,340.45 2,791,994.27 1,633,440.41 1,446,065.76 1,654,632.95 1,906,041.30
Aug-16 1,943,976.80 2,713,054.22 1,587,256.98 1,413,801.28 1,617,714.95 1,852,150.43
<CAPTION>
POOL ID 12 13 14
-- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY
----------------------------------------------------------
KENTWOOD BOARDMAN MONROEVILLE
MI OH PA
----------------------------------------------------------
MAR-98 BALANCE 5,661,718.21 5,464,462.52 9,557,521.11
----------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640%
----------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH
----------------------------------------------------------
<S> <C> <C> <C>
Oct-11 3,061,912.82 2,955,235.01 5,168,800.34
Nov-11 3,036,234.25 2,930,451.09 5,125,452.45
Dec-11 3,010,392.19 2,905,509.37 5,081,828.57
Jan-12 2,984,385.61 2,880,408.86 5,037,926.96
Feb-12 2,958,213.45 2,855,148.54 4,993,745.85
Mar-12 2,931,874.66 2,829,727.40 4,949,283.44
Apr-12 2,905,368.17 2,804,144.41 4,904,537.96
May-12 2,878,692.93 2,778,398.55 4,859,507.60
Jun-12 2,851,847.86 2,752,488.76 4,814,190.54
Jul-12 2,824,831.88 2,726,414.02 4,768,584.97
Aug-12 2,797,643.89 2,700,173.27 4,722,689.04
Sep-12 2,770,282.81 2,673,765.46 4,676,500.91
Oct-12 2,742,747.52 2,647,189.51 4,630,018.71
Nov-12 2,715,036.93 2,620,444.36 4,583,240.57
Dec-12 2,687,149.92 2,593,528.94 4,536,164.62
Jan-13 2,659,085.36 2,566,442.15 4,488,788.95
Feb-13 2,630,842.12 2,539,182.91 4,441,111.65
Mar-13 2,602,419.06 2,511,750.13 4,393,130.81
Apr-13 2,573,815.05 2,484,142.68 4,344,844.49
May-13 2,545,028.92 2,456,359.47 4,296,250.74
Jun-13 2,516,059.52 2,428,399.37 4,247,347.62
Jul-13 2,486,905.68 2,400,261.26 4,198,133.15
Aug-13 2,457,566.23 2,371,944.00 4,148,605.34
Sep-13 2,428,039.99 2,343,446.46 4,098,762.21
Oct-13 2,398,325.76 2,314,767.48 4,048,601.74
Nov-13 2,368,422.35 2,285,905.92 3,998,121.92
Dec-13 2,338,328.55 2,256,860.60 3,947,320.71
Jan-14 2,308,043.16 2,227,630.36 3,896,196.06
Feb-14 2,277,564.95 2,198,214.02 3,844,745.93
Mar-14 2,246,892.70 2,168,610.39 3,792,968.22
Apr-14 2,216,025.17 2,138,818.29 3,740,860.87
May-14 2,184,961.11 2,108,836.51 3,688,421.76
Jun-14 2,153,699.28 2,078,663.85 3,635,648.79
Jul-14 2,122,238.42 2,048,299.09 3,582,539.84
Aug-14 2,090,577.25 2,017,741.01 3,529,092.75
Sep-14 2,058,714.51 1,986,988.38 3,475,305.39
Oct-14 2,026,648.91 1,956,039.95 3,421,175.58
Nov-14 1,994,379.16 1,924,894.48 3,366,701.14
Dec-14 1,961,903.95 1,893,550.72 3,311,879.89
Jan-15 1,929,221.99 1,862,007.41 3,256,709.60
Feb-15 1,896,331.95 1,830,263.27 3,201,188.07
Mar-15 1,863,232.52 1,798,317.03 3,145,313.05
Apr-15 1,829,922.35 1,766,167.39 3,089,082.29
May-15 1,796,400.10 1,733,813.07 3,032,493.52
Jun-15 1,762,664.43 1,701,252.76 2,975,544.48
Jul-15 1,728,713.98 1,668,485.15 2,918,232.86
Aug-15 1,694,547.38 1,635,508.92 2,860,556.35
Sep-15 1,660,163.25 1,602,322.74 2,802,512.64
Oct-15 1,625,560.20 1,568,925.27 2,744,099.39
Nov-15 1,590,736.85 1,535,315.18 2,685,314.23
Dec-15 1,555,691.79 1,501,491.10 2,626,154.81
Jan-16 1,520,423.61 1,467,451.67 2,566,618.75
Feb-16 1,484,930.89 1,433,195.53 2,506,703.63
Mar-16 1,449,212.20 1,398,721.29 2,446,407.06
Apr-16 1,413,266.11 1,364,027.56 2,385,726.60
May-16 1,377,091.15 1,329,112.95 2,324,659.80
Jun-16 1,340,685.88 1,293,976.05 2,263,204.22
Jul-16 1,304,048.83 1,258,615.44 2,201,357.36
Aug-16 1,267,178.52 1,223,029.70 2,139,116.75
</TABLE>
Page 4
<PAGE>
BALANCE
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5
- - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL
-----------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2)
-----------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45
-----------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570%
-----------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Sep-16 1,499,450.33 1,121,562.85 20,806,695.79 6,562,401.44 907,958.96
Oct-16 1,211,131.03 0.00 20,806,695.79 6,454,130.94 888,145.88
Nov-16 1,211,131.03 0.00 20,806,695.79 6,345,224.35 868,224.33
Dec-16 1,211,131.03 0.00 19,072,523.88 6,235,677.93 848,193.71
Jan-17 917,139.04 0.00 19,072,523.88 6,125,487.93 828,053.42
Feb-17 917,139.04 0.00 19,072,523.88 6,014,650.56 807,802.86
Mar-17 917,139.04 0.00 17,308,480.85 5,903,162.02 787,441.44
Apr-17 617,362.76 0.00 17,308,480.85 5,791,018.49 766,968.53
May-17 617,362.76 0.00 17,308,480.85 5,678,216.11 746,383.53
Jun-17 617,362.76 0.00 15,514,052.18 5,564,751.02 725,685.83
Jul-17 311,688.38 0.00 15,514,052.18 5,450,619.33 704,874.81
Aug-17 311,688.38 0.00 15,514,052.18 5,335,817.10 683,949.85
Sep-17 311,688.38 0.00 13,688,714.48 5,220,340.42 662,910.32
Oct-17 0.00 0.00 13,688,714.48 5,104,185.31 641,755.61
Nov-17 0.00 0.00 13,688,714.48 4,987,347.79 620,485.07
Dec-17 0.00 0.00 11,831,935.34 4,869,823.85 599,098.08
Jan-18 0.00 0.00 11,831,935.34 4,751,609.45 577,593.99
Feb-18 0.00 0.00 11,831,935.34 4,632,700.55 555,972.17
Mar-18 0.00 0.00 9,943,173.18 4,513,093.05 534,231.96
Apr-18 0.00 0.00 9,943,173.18 4,392,782.87 512,372.73
May-18 0.00 0.00 9,943,173.18 4,271,765.85 490,393.82
Jun-18 0.00 0.00 8,021,877.09 4,150,037.87 468,294.58
Jul-18 0.00 0.00 8,021,877.09 4,027,594.73 446,074.34
Aug-18 0.00 0.00 8,021,877.09 3,904,432.24 423,732.45
Sep-18 0.00 0.00 6,067,486.67 3,780,546.17 401,268.23
Oct-18 0.00 0.00 6,067,486.67 3,655,932.27 378,681.03
Nov-18 0.00 0.00 6,067,486.67 3,530,586.26 355,970.16
Dec-18 0.00 0.00 4,079,431.88 3,404,503.84 333,134.94
Jan-19 0.00 0.00 4,079,431.88 3,277,680.70 310,174.71
Feb-19 0.00 0.00 4,079,431.88 3,150,112.46 287,088.76
Mar-19 0.00 0.00 2,057,132.84 3,021,794.76 263,876.42
Apr-19 0.00 0.00 2,057,132.84 2,892,723.19 240,537.00
May-19 0.00 0.00 2,057,132.84 2,762,893.33 217,069.79
Jun-19 0.00 0.00 0.00 2,632,300.72 193,474.10
Jul-19 0.00 0.00 0.00 2,500,940.88 169,749.22
Aug-19 0.00 0.00 0.00 2,368,809.30 145,894.44
Sep-19 0.00 0.00 0.00 2,235,901.44 121,909.07
Oct-19 0.00 0.00 0.00 2,102,212.75 97,792.37
Nov-19 0.00 0.00 0.00 1,967,738.64 73,543.63
Dec-19 0.00 0.00 0.00 1,832,474.50 49,162.13
Jan-20 0.00 0.00 0.00 1,696,415.67 24,647.14
Feb-20 0.00 0.00 0.00 1,559,557.51 0.00
Mar-20 0.00 0.00 0.00 1,421,895.30 0.00
Apr-20 0.00 0.00 0.00 1,283,424.32 0.00
May-20 0.00 0.00 0.00 1,144,139.83 0.00
Jun-20 0.00 0.00 0.00 1,004,037.04 0.00
Jul-20 0.00 0.00 0.00 863,111.15 0.00
Aug-20 0.00 0.00 0.00 721,357.32 0.00
Sep-20 0.00 0.00 0.00 578,770.68 0.00
Oct-20 0.00 0.00 0.00 435,346.35 0.00
Nov-20 0.00 0.00 0.00 291,079.40 0.00
Dec-20 0.00 0.00 0.00 145,964.88 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 6 7 8 9 10 11
- - - - -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
-------------------------------------------------------------------------------------------------------------------
DENVER ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND
CO FL FL IL KS MI
-------------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 6,888,745.84 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41
-------------------------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 7.640% 7.640% 8.610% 8.610% 7.640%
-------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Sep-16 1,899,294.83 2,633,611.58 1,540,779.51 1,381,305.31 1,580,532.05 1,797,916.45
Oct-16 1,854,292.27 2,553,663.16 1,494,006.14 1,348,576.17 1,543,082.37 1,743,337.19
Nov-16 1,808,966.82 2,473,205.73 1,446,934.98 1,315,612.21 1,505,363.98 1,688,410.43
Dec-16 1,763,316.15 2,392,236.06 1,399,564.13 1,282,411.73 1,467,374.97 1,633,133.98
Jan-17 1,717,337.95 2,310,750.88 1,351,891.69 1,248,973.03 1,429,113.39 1,577,505.60
Feb-17 1,671,029.85 2,228,746.91 1,303,915.74 1,215,294.41 1,390,577.27 1,521,523.05
Mar-17 1,624,389.49 2,146,220.84 1,255,634.33 1,181,374.15 1,351,764.67 1,465,184.08
Apr-17 1,577,414.48 2,063,169.37 1,207,045.54 1,147,210.51 1,312,673.58 1,408,486.42
May-17 1,530,102.43 1,979,589.13 1,158,147.39 1,112,801.74 1,273,302.01 1,351,427.78
Jun-17 1,482,450.91 1,895,476.76 1,108,937.93 1,078,146.10 1,233,647.95 1,294,005.87
Jul-17 1,434,457.50 1,810,828.88 1,059,415.17 1,043,241.79 1,193,709.38 1,236,218.38
Aug-17 1,386,119.73 1,725,642.08 1,009,577.11 1,008,087.05 1,153,484.24 1,178,062.97
Sep-17 1,337,435.14 1,639,912.91 959,421.76 972,680.08 1,112,970.49 1,119,537.30
Oct-17 1,288,401.24 1,553,637.94 908,947.07 937,019.06 1,072,166.05 1,060,639.02
Nov-17 1,239,015.52 1,466,813.69 858,151.04 901,102.17 1,031,068.85 1,001,365.76
Dec-17 1,189,275.45 1,379,436.65 807,031.60 864,927.58 989,676.76 941,715.12
Jan-18 1,139,178.50 1,291,503.31 755,586.70 828,493.43 947,987.70 881,684.71
Feb-18 1,088,722.11 1,203,010.14 703,814.27 791,797.87 905,999.51 821,272.10
Mar-18 1,037,903.69 1,113,953.55 651,712.22 754,839.02 863,710.05 760,474.86
Apr-18 986,720.65 1,024,329.97 599,278.45 717,614.99 821,117.17 699,290.55
May-18 935,170.37 934,135.79 546,510.86 680,123.88 778,218.69 637,716.70
Jun-18 883,250.22 843,367.37 493,407.31 642,363.77 735,012.41 575,750.83
Jul-18 830,957.54 752,021.06 439,965.67 604,332.73 691,496.12 513,390.45
Aug-18 778,289.66 660,093.18 386,183.79 566,028.82 647,667.61 450,633.03
Sep-18 725,243.89 567,580.02 332,059.49 527,450.07 603,524.62 387,476.06
Oct-18 671,817.51 474,477.86 277,590.60 488,594.53 559,064.91 323,916.99
Nov-18 618,007.80 380,782.95 222,774.93 449,460.19 514,286.20 259,953.27
Dec-18 563,812.01 286,491.52 167,610.26 410,045.07 469,186.21 195,582.30
Jan-19 509,227.36 191,599.77 112,094.38 370,347.14 423,762.62 130,801.51
Feb-19 454,251.07 96,103.87 56,225.05 330,364.38 378,013.11 65,608.28
Mar-19 398,880.32 0.00 0.00 290,094.75 331,935.36 0.00
Apr-19 343,112.28 0.00 0.00 249,536.18 285,526.99 0.00
May-19 286,944.11 0.00 0.00 208,686.60 238,785.65 0.00
Jun-19 230,372.94 0.00 0.00 167,543.93 191,708.94 0.00
Jul-19 173,395.86 0.00 0.00 126,106.06 144,294.45 0.00
Aug-19 116,009.98 0.00 0.00 84,370.87 96,539.76 0.00
Sep-19 58,212.35 0.00 0.00 42,336.23 48,442.43 0.00
Oct-19 0.00 0.00 0.00 0.00 0.00 0.00
Nov-19 0.00 0.00 0.00 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 12 13 14
-- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY
----------------------------------------------------------
KENTWOOD BOARDMAN MONROEVILLE
MI OH PA
----------------------------------------------------------
MAR-98 BALANCE 5,661,718.21 5,464,462.52 9,557,521.11
----------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640%
----------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH
----------------------------------------------------------
<S> <C> <C> <C>
Sep-16 1,230,073.48 1,187,217.41 2,076,479.88
Oct-16 1,192,732.20 1,151,177.10 2,013,444.21
Nov-16 1,155,153.17 1,114,907.35 1,950,007.22
Dec-16 1,117,334.90 1,078,406.67 1,886,166.34
Jan-17 1,079,275.85 1,041,673.60 1,821,919.02
Feb-17 1,040,974.49 1,004,706.67 1,757,262.65
Mar-17 1,002,429.27 967,504.39 1,692,194.63
Apr-17 963,638.66 930,065.24 1,626,712.35
May-17 924,601.07 892,387.74 1,560,813.17
Jun-17 885,314.95 854,470.35 1,494,494.43
Jul-17 845,778.71 816,311.56 1,427,753.45
Aug-17 805,990.75 777,909.83 1,360,587.56
Sep-17 765,949.47 739,263.60 1,292,994.05
Oct-17 725,653.27 700,371.32 1,224,970.19
Nov-17 685,100.51 661,231.43 1,156,513.25
Dec-17 644,289.57 621,842.35 1,087,620.46
Jan-18 603,218.79 582,202.50 1,018,289.06
Feb-18 561,886.54 542,310.27 948,516.25
Mar-18 520,291.13 502,164.06 878,299.21
Apr-18 478,430.90 461,762.25 807,635.13
May-18 436,304.16 421,103.21 736,521.16
Jun-18 393,909.21 380,185.32 664,954.42
Jul-18 351,244.35 339,006.91 592,932.04
Aug-18 308,307.86 297,566.33 520,451.13
Sep-18 265,098.00 255,861.92 447,508.74
Oct-18 221,613.04 213,891.99 374,101.96
Nov-18 177,851.23 171,654.85 300,227.83
Dec-18 133,810.80 129,148.80 225,883.36
Jan-19 89,489.98 86,372.12 151,065.56
Feb-19 44,886.98 43,323.11 75,771.42
Mar-19 0.00 0.00 0.00
Apr-19 0.00 0.00 0.00
May-19 0.00 0.00 0.00
Jun-19 0.00 0.00 0.00
Jul-19 0.00 0.00 0.00
Aug-19 0.00 0.00 0.00
Sep-19 0.00 0.00 0.00
Oct-19 0.00 0.00 0.00
Nov-19 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00
May-20 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00
May-21 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00
</TABLE>
Page 5
<PAGE>
BALANCE
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5
- - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL
------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2)
------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45
------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570%
------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Aug-21 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00
Mar-23 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 6 7 8 9 10 11
- - - - -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
------------------------------------------------------------------------------------------------------------------
DENVER ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND
CO FL FL IL KS MI
------------------------------------------------------------------------------------------------------------------
MAR-98 BALANCE 6,888,745.84 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41
------------------------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 7.640% 7.640% 8.610% 8.610% 7.640%
------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 12 13 14
-- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY
----------------------------------------------------------
KENTWOOD BOARDMAN MONROEVILLE
MI OH PA
----------------------------------------------------------
MAR-98 BALANCE 5,661,718.21 5,464,462.52 9,557,521.11
----------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640%
----------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH
----------------------------------------------------------
<S> <C> <C> <C>
Aug-21 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00
May-22 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00
Mar-23 0.00 0.00 0.00
</TABLE>
Page 6
<PAGE>
BALANCE
<TABLE>
<CAPTION>
15 16 17 18 19 20
-- -- -- -- -- --
CIRCUIT ECKERD FEDERAL FRED FRED FRED
CITY CORPORATION INSURANCE MEYER MEYER MEYER
- -----------------------------------------------------------------------------------------------------------------------------
ANDERSEN NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE
SC FL NJ OR WA WA
- -----------------------------------------------------------------------------------------------------------------------------
3,343,954.14 1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68
- -----------------------------------------------------------------------------------------------------------------------------
7.640% 7.190% 6.900% 7.730% 7.700% 7.700%
- -----------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3,338,563.81 1,872,874.92 17,869,948.34 18,083,750.27 13,505,648.35 13,367,835.63
3,333,139.16 1,869,260.16 17,826,774.97 18,058,167.27 13,486,461.43 13,348,844.49
3,327,679.98 1,865,623.75 17,783,353.36 18,032,419.46 13,467,151.39 13,329,731.50
3,322,186.04 1,861,965.54 17,739,682.07 18,006,505.79 13,447,717.44 13,310,495.86
3,316,657.12 1,858,285.42 17,695,759.67 17,980,425.20 13,428,158.79 13,291,136.80
3,311,093.00 1,854,583.25 17,651,584.72 17,954,176.61 13,408,474.64 13,271,653.51
3,305,493.46 1,850,858.89 17,607,155.76 17,927,758.93 13,388,664.18 13,252,045.21
3,299,858.26 1,847,112.22 17,562,471.34 17,901,171.08 13,368,726.60 13,232,311.09
3,294,187.19 1,843,343.10 17,517,529.98 17,874,411.95 13,348,661.10 13,212,450.34
3,288,480.01 1,839,551.40 17,472,330.21 17,847,480.46 13,328,466.83 13,192,462.14
3,282,736.50 1,835,736.98 17,426,870.54 17,820,375.48 13,308,142.99 13,172,345.70
3,276,956.42 1,831,899.70 17,381,149.47 17,793,095.90 13,287,688.74 13,152,100.17
3,271,139.54 1,828,039.43 17,335,165.51 17,765,640.59 13,267,103.24 13,131,724.73
3,265,285.62 1,824,156.04 17,288,917.14 17,738,008.42 13,246,385.65 13,111,218.55
3,259,394.44 1,820,249.37 17,242,402.85 17,710,198.26 13,225,535.12 13,090,580.79
3,253,465.74 1,816,319.30 17,195,621.09 17,682,208.95 13,204,550.80 13,069,810.60
3,247,499.31 1,812,365.68 17,148,570.34 17,654,039.35 13,183,431.83 13,048,907.14
3,241,494.88 1,808,388.37 17,101,249.05 17,625,688.29 13,162,177.35 13,027,869.55
3,235,452.23 1,804,387.23 17,053,655.66 17,597,154.60 13,140,786.48 13,006,696.97
3,229,371.10 1,800,362.12 17,005,788.62 17,568,437.10 13,119,258.36 12,985,388.52
3,223,251.26 1,796,312.89 16,957,646.33 17,539,534.62 13,097,592.10 12,963,943.35
3,217,092.46 1,792,239.40 16,909,227.23 17,510,445.95 13,075,786.81 12,942,360.58
3,210,894.44 1,788,141.50 16,860,529.71 17,481,169.91 13,053,841.61 12,920,639.31
3,204,656.97 1,784,019.04 16,811,552.19 17,451,705.28 13,031,755.59 12,898,778.67
3,198,379.78 1,779,871.89 16,762,293.04 17,422,050.85 13,009,527.85 12,876,777.75
3,192,062.63 1,775,699.89 16,712,750.66 17,392,205.39 12,987,157.48 12,854,635.66
3,185,705.26 1,771,502.89 16,662,923.40 17,362,167.68 12,964,643.57 12,832,351.49
3,179,307.41 1,767,280.75 16,612,809.64 17,331,936.48 12,941,985.20 12,809,924.33
3,172,868.83 1,763,033.30 16,562,407.73 17,301,510.53 12,919,181.43 12,787,353.27
3,166,389.26 1,758,760.41 16,511,716.00 17,270,888.60 12,896,231.35 12,764,637.37
3,159,868.44 1,754,461.92 16,460,732.80 17,240,069.40 12,873,133.99 12,741,775.72
3,153,306.10 1,750,137.67 16,409,456.44 17,209,051.68 12,849,888.43 12,718,767.36
3,146,701.97 1,745,787.51 16,357,885.25 17,177,834.16 12,826,493.71 12,695,611.37
3,140,055.81 1,741,411.29 16,306,017.52 17,146,415.54 12,802,948.88 12,672,306.80
3,133,367.33 1,737,008.84 16,253,851.55 17,114,794.53 12,779,252.96 12,648,852.69
3,126,636.26 1,732,580.02 16,201,385.63 17,082,969.84 12,755,405.00 12,625,248.08
3,119,862.34 1,728,124.66 16,148,618.02 17,050,940.13 12,731,404.01 12,601,492.01
3,113,045.29 1,723,642.61 16,095,547.01 17,018,704.11 12,707,249.02 12,577,583.50
3,106,184.85 1,719,133.70 16,042,170.83 16,986,260.43 12,682,939.03 12,553,521.58
3,099,280.72 1,714,597.78 15,988,487.75 16,953,607.75 12,658,473.05 12,529,305.27
3,092,332.64 1,709,603.82 15,934,495.98 16,920,744.74 12,633,850.08 12,504,933.56
3,085,340.32 1,704,579.93 15,880,193.76 16,887,670.04 12,609,069.12 12,480,405.47
3,078,303.48 1,699,525.95 15,825,579.31 16,854,382.28 12,584,129.14 12,455,719.99
3,071,221.84 1,694,441.68 15,770,650.82 16,820,880.09 12,559,029.13 12,430,876.12
<CAPTION>
21 24 25 26 27 28 29
-- -- -- -- -- -- --
HEALTH INS.
GIANT PLAN OF HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
FOOD GREATER NY MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ARLINGTON FOREST HILLS ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS
VA NY CA CA CA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59
- ------------------------------------------------------------------------------------------------------------------------------------
7.620% 8.350% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,714,105.32 15,301,136.10 2,399,544.17 1,227,514.86 1,290,124.36 3,170,923.26 1,664,649.61
4,708,424.47 15,292,765.64 2,395,716.44 1,225,556.74 1,288,066.37 3,165,865.03 1,661,994.17
4,702,707.55 15,284,336.94 2,391,864.85 1,223,586.41 1,285,995.55 3,160,775.27 1,659,322.19
4,696,954.32 15,275,849.59 2,387,989.25 1,221,603.80 1,283,911.82 3,155,653.79 1,656,633.54
4,691,164.56 15,267,303.19 2,384,089.49 1,219,608.84 1,281,815.10 3,150,500.38 1,653,928.14
4,685,338.04 15,258,697.31 2,380,165.43 1,217,601.44 1,279,705.31 3,145,314.85 1,651,205.88
4,679,474.51 15,250,031.56 2,376,216.90 1,215,581.52 1,277,582.37 3,140,096.99 1,648,466.64
4,673,573.76 15,241,305.50 2,372,243.76 1,213,549.02 1,275,446.19 3,134,846.61 1,645,710.34
4,667,635.53 15,232,518.72 2,368,245.86 1,211,503.84 1,273,296.70 3,129,563.51 1,642,936.85
4,661,659.60 15,223,670.80 2,364,223.04 1,209,445.92 1,271,133.82 3,124,247.47 1,640,146.07
4,655,645.71 15,214,761.32 2,360,175.14 1,207,375.17 1,268,957.45 3,118,898.30 1,637,337.90
4,649,593.64 15,205,943.08 2,356,102.00 1,205,291.51 1,266,767.51 3,113,515.78 1,634,512.22
4,643,503.14 15,197,063.48 2,352,003.48 1,203,194.86 1,264,563.93 3,108,099.71 1,631,668.93
4,637,373.97 15,188,122.10 2,347,879.41 1,201,085.15 1,262,346.60 3,102,649.88 1,628,807.92
4,631,205.87 15,179,118.49 2,343,729.64 1,198,962.28 1,260,115.46 3,097,166.08 1,625,929.07
4,624,998.61 15,170,052.24 2,339,554.00 1,196,826.19 1,257,870.41 3,091,648.10 1,623,032.28
4,618,751.93 15,160,922.90 2,335,352.33 1,194,676.77 1,255,611.37 3,086,095.72 1,620,117.43
4,612,465.59 15,151,730.03 2,331,124.47 1,192,513.96 1,253,338.24 3,080,508.74 1,617,184.41
4,606,139.32 15,142,473.20 2,326,870.25 1,190,337.67 1,251,050.95 3,074,886.93 1,614,233.11
4,599,772.89 15,133,151.96 2,322,589.52 1,188,147.81 1,248,749.39 3,069,230.07 1,611,263.41
4,593,366.03 15,123,765.85 2,318,282.11 1,185,944.30 1,246,433.50 3,063,537.95 1,608,275.20
4,586,918.48 15,114,314.44 2,313,947.84 1,183,727.06 1,244,103.16 3,057,810.36 1,605,268.37
4,580,429.99 15,104,797.26 2,309,586.56 1,181,495.99 1,241,758.30 3,052,047.06 1,602,242.79
4,573,900.30 15,095,374.76 2,305,198.09 1,179,251.02 1,239,398.82 3,046,247.84 1,599,198.36
4,567,329.15 15,085,886.70 2,300,782.27 1,176,992.05 1,237,024.64 3,040,412.46 1,596,134.94
4,560,716.27 15,076,332.62 2,296,338.92 1,174,719.01 1,234,635.66 3,034,540.72 1,593,052.43
4,554,061.40 15,066,712.06 2,291,867.88 1,172,431.79 1,232,231.78 3,028,632.37 1,589,950.71
4,547,364.27 15,057,024.55 2,287,368.96 1,170,130.32 1,229,812.92 3,022,687.20 1,586,829.65
4,540,624.61 15,047,269.64 2,282,842.01 1,167,814.50 1,227,378.99 3,016,704.96 1,583,689.14
4,533,842.16 15,037,446.84 2,278,286.83 1,165,484.25 1,224,929.88 3,010,685.44 1,580,529.05
4,527,016.63 15,027,555.70 2,273,703.26 1,163,139.47 1,222,465.51 3,004,628.40 1,577,349.27
4,520,147.77 15,017,595.73 2,269,091.13 1,160,780.08 1,219,985.77 2,998,533.60 1,574,149.66
4,513,235.29 15,007,566.46 2,264,450.24 1,158,405.98 1,217,490.58 2,992,400.81 1,570,930.11
4,506,278.91 14,997,467.40 2,259,780.42 1,156,017.08 1,214,979.83 2,986,229.79 1,567,690.49
4,499,278.36 14,987,298.07 2,255,081.49 1,153,613.29 1,212,453.44 2,980,020.31 1,564,430.68
4,492,233.36 14,977,226.93 2,250,353.28 1,151,194.51 1,209,911.29 2,973,772.11 1,561,150.55
4,485,143.62 14,967,085.72 2,245,595.59 1,148,760.66 1,207,353.31 2,967,484.98 1,557,849.97
4,478,008.87 14,956,873.94 2,240,808.25 1,146,311.64 1,204,779.37 2,961,158.65 1,554,528.82
4,470,828.80 14,946,591.11 2,235,991.06 1,143,847.35 1,202,189.39 2,954,792.89 1,551,186.96
4,463,603.14 14,936,236.72 2,231,143.85 1,141,367.71 1,199,583.27 2,948,387.45 1,547,824.28
4,456,331.60 14,925,810.28 2,226,266.42 1,138,872.60 1,196,960.90 2,941,942.08 1,544,440.63
4,449,013.89 14,915,311.30 2,221,358.59 1,136,361.94 1,194,322.19 2,935,456.54 1,541,035.90
4,441,649.71 14,904,739.25 2,216,420.17 1,133,835.64 1,191,667.03 2,928,930.57 1,537,609.94
4,434,238.76 14,894,093.65 2,211,450.97 1,131,293.58 1,188,995.31 2,922,363.92 1,534,162.62
<CAPTION>
30 31 32
-- -- --
HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS
- -------------------------------------------------------------
DUBUQUE WATERLOO TWIN FALLS
IA IA ID
- -------------------------------------------------------------
1,498,986.70 1,566,990.92 1,268,563.31
- -------------------------------------------------------------
7.480% 7.480% 7.480%
- -------------------------------------------------------------
10TH 10TH 10TH
- -------------------------------------------------------------
<S> <C> <C>
1,496,614.10 1,564,510.69 1,266,555.43
1,494,226.72 1,562,014.99 1,264,535.03
1,491,824.45 1,559,503.74 1,262,502.04
1,489,407.21 1,556,976.84 1,260,456.37
1,486,974.90 1,554,434.19 1,258,397.96
1,484,527.43 1,551,875.68 1,256,326.71
1,482,064.71 1,549,301.23 1,254,242.56
1,479,586.63 1,546,710.73 1,252,145.41
1,477,093.11 1,544,104.09 1,250,035.19
1,474,584.04 1,541,481.19 1,247,911.81
1,472,059.33 1,538,841.95 1,245,775.20
1,469,518.89 1,536,186.25 1,243,625.28
1,466,962.61 1,533,514.00 1,241,461.95
1,464,390.40 1,530,825.10 1,239,285.13
1,461,802.15 1,528,119.43 1,237,094.75
1,459,197.77 1,525,396.90 1,234,890.71
1,456,577.16 1,522,657.39 1,232,672.94
1,453,940.21 1,519,900.82 1,230,441.34
1,451,286.82 1,517,127.05 1,228,195.83
1,448,616.90 1,514,336.00 1,225,936.33
1,445,930.33 1,511,527.55 1,223,662.74
1,443,227.02 1,508,701.60 1,221,374.97
1,440,506.85 1,505,858.03 1,219,072.95
1,437,769.73 1,502,996.73 1,216,756.58
1,435,015.55 1,500,117.60 1,214,425.77
1,432,244.20 1,497,220.53 1,212,080.43
1,429,455.57 1,494,305.39 1,209,720.47
1,426,649.57 1,491,372.08 1,207,345.80
1,423,826.07 1,488,420.49 1,204,956.33
1,420,984.97 1,485,450.51 1,202,551.97
1,418,126.16 1,482,462.00 1,200,132.61
1,415,249.54 1,479,454.87 1,197,698.18
1,412,354.98 1,476,429.00 1,195,248.57
1,409,442.38 1,473,384.26 1,192,783.69
1,406,511.62 1,470,320.55 1,190,303.45
1,403,562.60 1,467,237.74 1,187,807.75
1,400,595.19 1,464,135.71 1,185,296.49
1,397,609.29 1,461,014.34 1,182,769.58
1,394,604.77 1,457,873.52 1,180,226.92
1,391,581.53 1,454,713.12 1,177,668.40
1,388,539.44 1,451,533.03 1,175,093.94
1,385,478.39 1,448,333.11 1,172,503.44
1,382,398.26 1,445,113.24 1,169,896.78
1,379,298.93 1,441,873.30 1,167,273.88
</TABLE>
Page 7
<PAGE>
BALANCE
<TABLE>
<CAPTION>
15 16 17 18 19 20
-- -- -- -- -- --
CIRCUIT ECKERD FEDERAL FRED FRED FRED
CITY CORPORATION INSURANCE MEYER MEYER MEYER
- ------------------------------------------------------------------------------------------------------------------------------
ANDERSEN NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE
SC FL NJ OR WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,343,954.14 1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68
- ------------------------------------------------------------------------------------------------------------------------------
7.640% 7.190% 6.900% 7.730% 7.700% 7.700%
- ------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3,064,095.12 1,689,326.95 15,715,406.49 16,787,162.10 12,533,768.07 12,405,872.83
3,056,923.02 1,684,181.58 15,659,844.51 16,753,226.90 12,508,344.91 12,380,709.10
3,049,705.26 1,679,005.37 15,603,963.04 16,719,073.10 12,482,758.62 12,355,383.90
3,042,441.55 1,673,798.15 15,547,760.26 16,684,699.30 12,457,008.15 12,329,896.20
3,035,131.59 1,668,559.73 15,491,234.31 16,650,104.07 12,431,092.45 12,304,244.95
3,027,775.09 1,663,289.92 15,434,383.34 16,615,285.99 12,405,010.46 12,278,429.11
3,020,371.76 1,657,988.54 15,377,205.47 16,580,243.62 12,378,761.10 12,252,447.62
3,012,921.29 1,652,655.40 15,319,698.83 16,544,975.53 12,352,343.32 12,226,299.41
3,005,423.38 1,647,290.30 15,239,411.72 16,509,480.24 12,325,756.02 12,199,983.42
2,997,877.74 1,641,893.05 15,158,662.96 16,473,756.31 12,298,998.11 12,173,498.57
2,990,284.06 1,636,463.47 15,077,449.89 16,437,802.26 12,272,068.52 12,146,843.77
2,982,642.03 1,631,001.35 14,995,769.85 16,401,616.60 12,244,966.12 12,120,017.94
2,974,951.35 1,625,506.51 14,913,620.15 16,365,197.85 12,217,689.81 12,093,019.97
2,967,211.70 1,619,978.74 14,830,998.08 16,328,544.50 12,190,238.49 12,065,848.77
2,959,422.78 1,614,417.85 14,747,900.94 16,291,655.04 12,162,611.01 12,038,503.22
2,951,584.27 1,608,823.65 14,664,325.99 16,254,527.95 12,134,806.26 12,010,982.20
2,943,695.85 1,603,195.92 14,580,270.49 16,217,161.70 12,106,823.10 11,983,284.59
2,935,757.21 1,597,534.48 14,495,731.66 16,179,554.75 12,078,660.38 11,955,409.25
2,927,768.03 1,591,839.11 14,410,706.74 16,141,705.55 12,050,316.95 11,927,355.05
2,919,727.98 1,586,109.62 14,325,192.92 16,103,612.54 12,021,791.64 11,899,120.83
2,911,636.75 1,580,345.80 14,239,187.40 16,065,274.14 11,993,083.30 11,870,705.44
2,903,494.00 1,574,547.45 14,152,687.35 16,026,688.78 11,964,190.75 11,842,107.72
2,895,299.41 1,568,714.35 14,065,689.92 15,987,854.87 11,935,112.81 11,813,326.50
2,887,052.64 1,562,846.30 13,978,192.26 15,948,770.80 11,905,848.28 11,784,360.60
2,878,753.37 1,556,943.10 13,890,191.48 15,909,434.97 11,876,395.97 11,755,208.83
2,870,401.27 1,551,004.52 13,801,684.70 15,869,845.74 11,846,754.67 11,725,870.01
2,861,995.99 1,545,030.36 13,712,669.01 15,830,001.50 11,816,923.18 11,696,342.93
2,853,537.19 1,539,020.41 13,623,141.48 15,789,900.59 11,786,900.26 11,666,626.38
2,845,024.54 1,532,974.45 13,533,099.16 15,749,541.37 11,756,684.70 11,636,719.16
2,836,457.69 1,526,892.26 13,442,539.10 15,708,922.16 11,726,275.26 11,606,620.02
2,827,836.30 1,520,773.63 13,351,458.32 15,668,041.30 11,695,670.69 11,576,327.76
2,819,160.02 1,514,618.34 13,259,853.83 15,626,897.10 11,664,869.74 11,545,841.11
2,810,428.51 1,508,426.17 13,167,722.61 15,585,487.87 11,633,871.15 11,515,158.85
2,801,641.40 1,502,196.89 13,075,061.63 15,543,811.88 11,602,673.65 11,484,279.70
2,792,798.34 1,495,930.30 12,981,867.86 15,501,867.44 11,571,275.97 11,453,202.42
2,783,898.99 1,489,626.15 12,888,138.22 15,459,652.80 11,539,676.82 11,421,925.72
2,774,942.98 1,483,284.24 12,793,869.63 15,417,166.23 11,507,874.91 11,390,448.33
2,765,929.94 1,476,904.32 12,699,059.00 15,374,405.98 11,475,868.94 11,358,768.96
2,756,859.53 1,470,486.18 12,603,703.21 15,331,370.28 11,443,657.60 11,326,886.31
2,747,731.36 1,464,029.58 12,507,799.12 15,288,057.35 11,411,239.56 11,294,799.09
2,738,545.08 1,457,534.30 12,411,343.59 15,244,465.42 11,378,613.51 11,262,505.97
2,729,300.32 1,451,000.10 12,314,333.43 15,200,592.69 11,345,778.11 11,230,005.63
2,719,996.69 1,444,426.75 12,216,765.47 15,156,437.34 11,312,732.02 11,197,296.76
2,710,633.84 1,437,814.01 12,118,636.49 15,111,997.55 11,279,473.88 11,164,378.00
2,701,211.37 1,431,161.65 12,019,943.27 15,067,271.51 11,246,002.33 11,131,248.01
2,691,728.91 1,424,469.44 11,920,682.57 15,022,257.35 11,212,316.01 11,097,905.44
2,682,186.08 1,417,737.12 11,820,851.11 14,976,953.22 11,178,413.54 11,064,348.92
2,672,582.50 1,410,964.47 11,720,445.63 14,931,357.26 11,144,293.52 11,030,577.08
2,662,917.77 1,404,151.24 11,619,462.81 14,885,467.59 11,109,954.57 10,996,588.53
2,653,191.51 1,397,297.19 11,517,899.34 14,839,282.31 11,075,395.27 10,962,381.90
2,643,403.32 1,390,402.07 11,415,751.88 14,792,799.52 11,040,614.22 10,927,955.77
2,633,552.82 1,383,465.63 11,313,017.07 14,746,017.30 11,005,609.99 10,893,308.74
2,623,639.60 1,376,487.64 11,209,691.54 14,698,933.73 10,970,381.15 10,858,439.39
2,613,663.27 1,369,467.83 11,105,771.89 14,651,546.86 10,934,926.26 10,823,346.29
2,603,623.43 1,362,405.97 11,001,254.70 14,603,854.74 10,899,243.87 10,788,028.02
2,593,519.66 1,355,301.79 10,896,136.53 14,555,855.41 10,863,332.51 10,752,483.12
2,583,351.56 1,347,724.18 10,790,413.94 14,507,546.87 10,827,190.73 10,716,710.14
2,573,118.73 1,340,101.16 10,684,083.44 14,458,927.16 10,790,817.03 10,680,707.61
2,562,820.75 1,332,432.47 10,577,141.54 14,409,994.25 10,754,209.94 10,644,474.08
<CAPTION>
21 24 25 26 27 28 29
-- -- -- -- -- -- --
HEALTH INS.
GIANT PLAN OF HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
FOOD GREATER NY MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ARLINGTON FOREST HILLS ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS
VA NY CA CA CA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59
- ------------------------------------------------------------------------------------------------------------------------------------
7.620% 8.350% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,426,780.76 14,883,373.97 2,206,450.79 1,128,735.68 1,186,306.95 2,915,756.33 1,530,693.82
4,419,275.40 14,872,579.69 2,201,419.44 1,126,161.84 1,183,601.82 2,909,107.57 1,527,203.40
4,411,722.38 14,861,710.31 2,196,356.73 1,123,571.95 1,180,879.84 2,902,417.35 1,523,691.21
4,404,121.39 14,850,942.69 2,191,262.47 1,120,965.92 1,178,140.89 2,895,685.44 1,520,157.14
4,396,472.14 14,840,100.15 2,186,136.45 1,118,343.64 1,175,384.86 2,888,911.56 1,516,601.03
4,388,774.32 14,829,182.17 2,180,978.47 1,115,705.02 1,172,611.66 2,882,095.46 1,513,022.76
4,381,027.62 14,818,188.21 2,175,788.35 1,113,049.95 1,169,821.17 2,875,236.87 1,509,422.19
4,373,231.73 14,807,117.75 2,170,565.87 1,110,378.33 1,167,013.28 2,868,335.53 1,505,799.17
4,365,386.33 14,789,687.65 2,165,310.84 1,107,690.06 1,164,187.90 2,861,391.17 1,502,153.57
4,357,491.11 14,772,136.27 2,160,023.06 1,104,985.03 1,161,344.90 2,854,403.53 1,498,485.24
4,349,545.76 14,754,462.76 2,154,702.31 1,102,263.14 1,158,484.18 2,847,372.33 1,494,794.05
4,341,549.95 14,736,666.27 2,149,348.40 1,099,524.29 1,155,605.62 2,840,297.30 1,491,079.85
4,333,503.38 14,718,745.95 2,143,961.11 1,096,768.36 1,152,709.13 2,833,178.17 1,487,342.50
4,325,405.70 14,700,700.93 2,138,540.25 1,093,995.25 1,149,794.58 2,826,014.66 1,483,581.85
4,317,256.61 14,682,530.34 2,133,085.59 1,091,204.86 1,146,861.86 2,818,806.50 1,479,797.76
4,309,055.77 14,664,419.59 2,127,596.94 1,088,397.07 1,143,910.86 2,811,553.41 1,475,990.08
4,300,802.85 14,646,182.82 2,122,074.07 1,085,571.78 1,140,941.47 2,804,255.11 1,472,158.67
4,292,497.53 14,627,819.16 2,116,516.77 1,082,728.89 1,137,953.57 2,796,911.32 1,468,303.38
4,284,139.47 14,609,327.71 2,110,924.84 1,079,868.27 1,134,947.04 2,789,521.75 1,464,424.05
4,275,728.34 14,590,707.59 2,105,298.04 1,076,989.81 1,131,921.78 2,782,086.12 1,460,520.54
4,267,263.79 14,571,957.91 2,099,636.18 1,074,093.42 1,128,877.65 2,774,604.14 1,456,592.71
4,258,745.50 14,553,077.76 2,093,939.02 1,071,178.97 1,125,814.55 2,767,075.52 1,452,640.38
4,250,173.11 14,534,066.23 2,088,206.35 1,068,246.36 1,122,732.36 2,759,499.97 1,448,663.43
4,241,546.29 14,514,922.42 2,082,437.95 1,065,295.46 1,119,630.96 2,751,877.21 1,444,661.68
4,232,864.69 14,495,645.40 2,076,633.59 1,062,326.18 1,116,510.22 2,744,206.93 1,440,634.99
4,224,127.96 14,476,234.24 2,070,793.05 1,059,338.38 1,113,370.03 2,736,488.83 1,436,583.19
4,215,335.75 14,456,688.01 2,064,916.10 1,056,331.96 1,110,210.27 2,728,722.63 1,432,506.15
4,206,487.71 14,437,201.37 2,059,002.52 1,053,306.80 1,107,030.81 2,720,908.02 1,428,403.68
4,197,583.49 14,417,579.13 2,053,052.08 1,050,262.78 1,103,831.53 2,713,044.69 1,424,275.65
4,188,622.73 14,397,820.35 2,047,064.55 1,047,199.79 1,100,612.31 2,705,132.36 1,420,121.89
4,179,605.06 14,377,924.08 2,041,039.69 1,044,117.70 1,097,373.02 2,697,170.70 1,415,942.23
4,170,530.13 14,357,889.37 2,034,977.28 1,041,016.41 1,094,113.54 2,689,159.41 1,411,736.52
4,161,397.58 14,337,715.25 2,028,877.09 1,037,895.78 1,090,833.75 2,681,098.19 1,407,504.59
4,152,207.03 14,317,400.75 2,022,738.86 1,034,755.70 1,087,533.51 2,672,986.72 1,403,246.29
4,142,958.13 14,296,944.90 2,016,562.38 1,031,596.05 1,084,212.70 2,664,824.68 1,398,961.44
4,133,650.49 14,276,346.71 2,010,347.39 1,028,416.70 1,080,871.19 2,656,611.77 1,394,649.88
4,124,283.75 14,255,605.19 2,004,093.67 1,025,217.53 1,077,508.85 2,648,347.67 1,390,311.45
4,114,857.53 14,234,719.34 1,997,800.96 1,021,998.43 1,074,125.55 2,640,032.05 1,385,945.97
4,105,371.46 14,213,688.16 1,991,469.03 1,018,759.25 1,070,721.16 2,631,664.60 1,381,553.29
4,095,825.15 14,192,716.00 1,985,097.63 1,015,499.89 1,067,295.55 2,623,245.00 1,377,133.22
4,086,218.22 14,171,597.91 1,978,686.52 1,012,220.21 1,063,848.59 2,614,772.91 1,372,685.60
4,076,550.28 14,150,332.87 1,972,235.44 1,008,920.08 1,060,380.15 2,606,248.01 1,368,210.26
4,066,820.96 14,128,919.87 1,965,744.15 1,005,599.39 1,056,890.08 2,597,669.97 1,363,707.02
4,057,029.85 14,107,357.86 1,959,212.40 1,002,258.00 1,053,378.26 2,589,038.46 1,359,175.71
4,047,176.57 14,085,645.82 1,952,639.93 998,895.77 1,049,844.54 2,580,353.15 1,354,616.15
4,037,260.72 14,063,782.70 1,946,026.50 995,512.59 1,046,288.81 2,571,613.71 1,350,028.18
4,027,281.91 14,041,767.45 1,939,371.84 992,108.33 1,042,710.90 2,562,819.78 1,345,411.60
4,017,239.73 14,019,599.00 1,932,675.70 988,682.84 1,039,110.70 2,553,971.04 1,340,766.25
4,007,133.78 13,997,276.31 1,925,937.82 985,236.00 1,035,488.05 2,545,067.14 1,336,091.95
3,996,963.66 13,974,798.28 1,919,157.95 981,767.67 1,031,842.82 2,536,107.75 1,331,388.50
3,986,728.96 13,952,163.85 1,912,335.81 978,277.73 1,028,174.87 2,527,092.50 1,326,655.74
3,976,429.27 13,929,587.54 1,905,471.14 974,766.03 1,024,484.06 2,518,021.06 1,321,893.48
3,966,064.17 13,906,854.15 1,898,563.69 971,232.44 1,020,770.24 2,508,893.07 1,317,101.53
3,955,633.26 13,883,962.56 1,891,613.18 967,676.82 1,017,033.27 2,499,708.19 1,312,279.71
3,945,136.11 13,860,911.69 1,884,619.35 964,099.05 1,013,273.01 2,490,466.06 1,307,427.84
3,934,572.31 13,837,700.43 1,877,581.92 960,498.97 1,009,489.31 2,481,166.31 1,302,545.72
3,923,941.42 13,814,327.65 1,870,500.62 956,876.45 1,005,682.02 2,471,808.60 1,297,633.18
3,913,243.03 13,790,792.24 1,863,375.19 953,231.35 1,001,851.00 2,462,392.55 1,292,690.01
3,902,476.70 13,767,093.05 1,856,205.33 949,563.53 997,996.10 2,452,917.82 1,287,716.02
<CAPTION>
30 31 32
-- -- --
HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS
- -------------------------------------------------------------
DUBUQUE WATERLOO TWIN FALLS
IA IA ID
- -------------------------------------------------------------
1,498,986.70 1,566,990.92 1,268,563.31
- -------------------------------------------------------------
7.480% 7.480% 7.480%
- -------------------------------------------------------------
10TH 10TH 10TH
- -------------------------------------------------------------
<S> <C> <C>
1,376,180.28 1,438,613.17 1,164,634.63
1,373,042.19 1,435,332.71 1,161,978.92
1,369,884.54 1,432,031.81 1,159,306.66
1,366,707.21 1,428,710.33 1,156,617.75
1,363,510.07 1,425,368.15 1,153,912.07
1,360,293.00 1,422,005.14 1,151,189.53
1,357,055.88 1,418,621.16 1,148,450.02
1,353,798.58 1,415,216.09 1,145,693.43
1,350,520.98 1,411,789.79 1,142,919.66
1,347,222.95 1,408,342.14 1,140,128.60
1,343,904.36 1,404,872.99 1,137,320.14
1,340,565.08 1,401,382.22 1,134,494.18
1,337,204.99 1,397,869.70 1,131,650.60
1,333,823.95 1,394,335.27 1,128,789.29
1,330,421.84 1,390,778.82 1,125,910.15
1,326,998.53 1,387,200.20 1,123,013.06
1,323,553.87 1,383,599.27 1,120,097.92
1,320,087.74 1,379,975.89 1,117,164.60
1,316,600.01 1,376,329.93 1,114,213.00
1,313,090.54 1,372,661.25 1,111,243.00
1,309,559.19 1,368,969.69 1,108,254.49
1,306,005.83 1,365,255.13 1,105,247.35
1,302,430.32 1,361,517.41 1,102,221.47
1,298,832.52 1,357,756.39 1,099,176.72
1,295,212.29 1,353,971.93 1,096,113.00
1,291,569.50 1,350,163.88 1,093,030.17
1,287,904.01 1,346,332.09 1,089,928.13
1,284,215.66 1,342,476.41 1,086,806.76
1,280,504.33 1,338,596.71 1,083,665.93
1,276,769.86 1,334,692.82 1,080,505.52
1,273,012.11 1,330,764.59 1,077,325.41
1,269,230.94 1,326,811.88 1,074,125.48
1,265,426.20 1,322,834.53 1,070,905.60
1,261,597.74 1,318,832.39 1,067,665.65
1,257,745.42 1,314,805.30 1,064,405.51
1,253,869.09 1,310,753.11 1,061,125.04
1,249,968.59 1,306,675.66 1,057,824.13
1,246,043.78 1,302,572.80 1,054,502.64
1,242,094.51 1,298,444.36 1,051,160.45
1,238,120.62 1,294,290.19 1,047,797.42
1,234,121.96 1,290,110.12 1,044,413.43
1,230,098.37 1,285,903.99 1,041,008.35
1,226,049.70 1,281,671.65 1,037,582.04
1,221,975.80 1,277,412.93 1,034,134.37
1,217,876.50 1,273,127.66 1,030,665.22
1,213,751.65 1,268,815.68 1,027,174.44
1,209,601.09 1,264,476.82 1,023,661.90
1,205,424.66 1,260,110.91 1,020,127.46
1,201,222.19 1,255,717.80 1,016,571.00
1,196,993.53 1,251,297.29 1,012,992.36
1,192,738.51 1,246,849.24 1,009,391.42
1,188,456.96 1,242,373.45 1,005,768.04
1,184,148.73 1,237,869.77 1,002,122.06
1,179,813.65 1,233,338.02 998,453.37
1,175,451.54 1,228,778.01 994,761.80
1,171,062.24 1,224,189.59 991,047.22
1,166,645.58 1,219,572.56 987,309.49
1,162,201.39 1,214,926.75 983,548.46
1,157,729.50 1,210,251.98 979,763.98
</TABLE>
Page 8
<PAGE>
BALANCE
<TABLE>
<CAPTION>
15 16 17 18 19 20
-- -- -- -- -- --
CIRCUIT ECKERD FEDERAL FRED FRED FRED
CITY CORPORATION INSURANCE MEYER MEYER MEYER
- ------------------------------------------------------------------------------------------------------------------------------
ANDERSEN NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE
SC FL NJ OR WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,343,954.14 1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68
- ------------------------------------------------------------------------------------------------------------------------------
7.640% 7.190% 6.900% 7.730% 7.700% 7.700%
- ------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
2,552,457.21 1,324,717.83 10,469,584.72 14,360,746.12 10,717,367.95 10,608,008.04
2,542,027.68 1,316,956.97 10,361,409.45 14,311,180.76 10,680,289.56 10,571,308.01
2,531,531.75 1,309,149.60 10,252,612.18 14,261,296.12 10,642,973.24 10,534,372.49
2,520,969.00 1,301,295.46 10,143,189.32 14,211,090.14 10,605,417.49 10,497,199.97
2,510,339.00 1,293,394.26 10,033,137.27 14,160,560.74 10,567,620.74 10,459,788.92
2,499,641.32 1,285,445.72 9,922,452.43 14,109,705.85 10,529,581.47 10,422,137.82
2,488,875.54 1,277,449.55 9,811,131.16 14,058,523.38 10,491,298.12 10,384,245.12
2,478,041.21 1,269,405.47 9,699,169.78 14,007,011.20 10,452,769.11 10,346,109.28
2,467,137.90 1,261,313.20 9,586,564.63 13,955,167.19 10,413,992.88 10,307,728.74
2,456,165.17 1,253,172.44 9,450,862.18 13,902,989.23 10,374,967.83 10,269,101.92
2,445,122.59 1,244,982.90 9,314,379.45 13,850,475.15 10,335,692.37 10,230,227.24
2,434,009.70 1,236,744.29 9,177,111.94 13,797,622.80 10,296,164.89 10,191,103.12
2,422,826.06 1,228,456.32 9,039,055.15 13,744,429.98 10,256,383.78 10,151,727.95
2,411,571.21 1,220,118.69 8,900,204.52 13,690,894.52 10,216,347.40 10,112,100.12
2,400,244.71 1,211,731.10 8,760,555.51 13,637,014.20 10,176,054.13 10,072,218.02
2,388,846.10 1,203,293.26 8,620,103.51 13,582,786.80 10,135,502.31 10,032,080.00
2,377,374.92 1,194,804.87 8,478,843.92 13,528,210.08 10,094,690.28 9,991,684.44
2,365,830.70 1,186,265.61 8,336,772.08 13,473,281.80 10,053,616.37 9,951,029.67
2,354,212.99 1,177,675.19 8,193,883.33 13,417,999.69 10,012,278.91 9,910,114.03
2,342,521.31 1,169,033.29 8,050,172.97 13,362,361.47 9,970,676.19 9,868,935.85
2,330,755.19 1,160,339.62 7,905,636.27 13,306,364.85 9,928,806.53 9,827,493.44
2,318,914.16 1,151,593.86 7,760,268.49 13,250,007.52 9,886,668.20 9,785,785.11
2,306,997.74 1,142,795.70 7,614,064.85 13,193,287.15 9,844,259.48 9,743,809.15
2,295,005.46 1,133,944.82 7,467,020.53 13,136,201.41 9,801,578.65 9,701,563.84
2,282,936.82 1,125,040.91 7,319,130.71 13,078,747.94 9,758,623.94 9,659,047.46
2,270,791.35 1,116,083.65 7,170,390.52 13,020,924.38 9,715,393.61 9,616,258.27
2,258,568.55 1,107,072.72 7,020,795.07 12,962,728.33 9,671,885.88 9,573,194.52
2,246,267.94 1,098,007.80 6,870,339.46 12,904,157.40 9,628,098.98 9,529,854.43
2,233,889.01 1,088,888.56 6,719,018.72 12,845,209.19 9,584,031.11 9,486,236.25
2,221,431.26 1,079,714.69 6,566,827.88 12,785,881.24 9,539,680.47 9,442,338.19
2,208,894.21 1,070,485.85 6,413,761.96 12,726,171.13 9,495,045.25 9,398,158.45
2,196,277.33 1,061,201.72 6,259,815.90 12,666,076.38 9,450,123.62 9,353,695.22
2,183,580.12 1,051,861.95 6,104,984.65 12,605,594.52 9,404,913.74 9,308,946.68
2,170,802.08 1,042,466.23 5,949,263.12 12,544,723.06 9,359,413.77 9,263,911.01
2,157,942.68 1,033,014.21 5,792,646.19 12,483,459.48 9,313,621.84 9,218,586.36
2,145,001.42 1,023,505.56 5,635,128.72 12,421,801.27 9,267,536.07 9,172,970.87
2,131,977.76 1,013,939.93 5,476,705.52 12,359,745.87 9,221,154.59 9,127,062.69
2,118,871.18 1,004,316.99 5,317,371.38 12,297,290.73 9,174,475.50 9,080,859.93
2,105,681.15 994,636.39 5,157,121.08 12,234,433.28 9,127,496.88 9,034,360.70
2,092,407.15 984,897.79 4,995,949.34 12,171,170.92 9,080,216.82 8,987,563.10
2,079,048.64 975,100.84 4,833,850.86 12,107,501.05 9,032,633.37 8,940,465.22
2,065,605.08 965,245.19 4,670,820.31 12,043,421.03 8,984,744.60 8,893,065.12
2,052,075.93 955,330.49 4,506,852.33 11,978,928.24 8,936,548.54 8,845,360.88
2,038,460.64 945,356.38 4,341,941.55 11,914,020.00 8,888,043.22 8,797,350.53
2,024,758.67 935,322.51 4,176,082.52 11,848,693.65 8,839,226.66 8,749,032.12
2,010,969.47 925,228.52 4,009,269.80 11,782,946.48 8,790,096.86 8,700,403.66
1,997,092.47 915,074.05 3,841,497.92 11,716,775.80 8,740,651.82 8,651,463.17
1,983,127.12 904,858.74 3,672,761.34 11,650,178.86 8,690,889.49 8,602,208.64
1,969,072.86 894,582.22 3,503,054.53 11,583,152.93 8,640,807.87 8,552,638.07
1,954,929.12 884,244.13 3,332,371.90 11,515,695.24 8,590,404.88 8,502,749.42
1,940,695.33 873,844.10 3,160,707.85 11,447,803.01 8,539,678.47 8,452,540.65
1,926,370.92 863,381.75 2,988,056.73 11,379,473.44 8,488,626.57 8,402,009.70
1,911,955.32 852,856.72 2,814,412.86 11,310,703.71 8,437,247.09 8,351,154.52
1,897,447.93 842,268.62 2,639,770.55 11,241,491.00 8,385,537.92 8,299,973.01
1,882,848.18 831,617.08 2,464,124.04 11,171,832.44 8,333,496.96 8,248,463.09
1,868,155.47 820,901.73 2,287,467.56 11,101,725.16 8,281,122.06 8,196,622.65
1,853,369.23 810,122.16 2,109,795.31 11,031,166.27 8,228,411.09 8,144,449.57
1,838,488.84 798,847.15 1,931,101.44 10,960,152.86 8,175,361.89 8,091,941.70
1,823,513.72 787,504.57 1,751,380.09 10,888,682.02 8,121,972.29 8,039,096.92
<CAPTION>
21 24 25 26 27 28 29
-- -- -- -- -- -- --
HEALTH INS.
GIANT PLAN OF HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
FOOD GREATER NY MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ARLINGTON FOREST HILLS ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS
VA NY CA CA CA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59
- ------------------------------------------------------------------------------------------------------------------------------------
7.620% 8.350% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,891,642.01 13,743,228.97 1,848,990.79 945,872.84 994,117.18 2,443,384.02 1,282,711.04
3,880,738.52 13,719,198.83 1,841,731.28 942,159.15 990,214.07 2,433,790.80 1,277,674.85
3,869,765.78 13,695,001.47 1,834,426.51 938,422.32 986,286.63 2,424,137.78 1,272,607.27
3,858,723.38 13,670,635.75 1,827,076.21 934,662.18 982,334.72 2,414,424.59 1,267,508.11
3,847,610.85 13,646,326.90 1,819,680.10 930,878.62 978,358.17 2,404,650.85 1,262,377.16
3,836,427.76 13,621,848.90 1,812,237.88 927,071.46 974,356.83 2,394,816.19 1,257,214.23
3,825,173.66 13,597,200.58 1,804,749.27 923,240.58 970,330.55 2,384,920.23 1,252,019.11
3,813,848.09 13,572,380.74 1,797,213.99 919,385.81 966,279.17 2,374,962.58 1,246,791.62
3,802,450.60 13,547,388.20 1,789,631.73 915,507.02 962,202.54 2,364,942.87 1,241,531.53
3,790,980.75 13,515,605.80 1,782,002.21 911,604.05 958,100.50 2,354,860.69 1,236,238.66
3,779,438.05 13,483,602.25 1,774,325.14 907,676.75 953,972.89 2,344,715.67 1,230,912.80
3,767,822.06 13,451,376.01 1,766,600.21 903,724.98 949,819.55 2,334,507.42 1,225,553.74
3,756,132.31 13,418,925.53 1,758,827.13 899,748.57 945,640.33 2,324,235.53 1,220,161.28
3,744,368.34 13,386,249.25 1,751,005.59 895,747.37 941,435.05 2,313,899.62 1,214,735.20
3,732,529.65 13,353,345.59 1,743,135.30 891,721.23 937,203.56 2,303,499.27 1,209,275.30
3,720,615.80 13,320,212.98 1,735,215.96 887,670.00 932,945.69 2,293,034.10 1,203,781.36
3,708,626.29 13,287,087.56 1,727,247.25 883,593.51 928,661.28 2,282,503.70 1,198,253.18
3,696,560.64 13,253,731.65 1,719,228.86 879,491.61 924,350.17 2,271,907.66 1,192,690.55
3,684,418.38 13,220,143.63 1,711,160.50 875,364.15 920,012.18 2,261,245.56 1,187,093.23
3,672,199.02 13,186,321.90 1,703,041.84 871,210.95 915,647.15 2,250,517.01 1,181,461.03
3,659,902.07 13,152,264.82 1,694,872.58 867,031.87 911,254.91 2,239,721.58 1,175,793.72
3,647,527.02 13,117,970.76 1,686,652.40 862,826.74 906,835.30 2,228,858.86 1,170,091.09
3,635,073.40 13,083,438.07 1,678,380.97 858,595.40 902,388.14 2,217,928.43 1,164,352.90
3,622,540.70 13,048,665.10 1,670,057.99 854,337.68 897,913.25 2,206,929.87 1,158,578.95
3,609,928.41 13,013,650.16 1,661,683.13 850,053.42 893,410.48 2,195,862.75 1,152,769.01
3,597,236.03 12,978,391.58 1,653,256.06 845,742.45 888,879.63 2,184,726.65 1,146,922.86
3,584,463.06 12,942,887.65 1,644,776.47 841,404.62 884,320.54 2,173,521.12 1,141,040.26
3,571,608.98 12,907,136.68 1,636,244.02 837,039.74 879,733.04 2,162,245.76 1,135,120.99
3,558,673.28 12,871,386.56 1,627,658.38 832,647.66 875,116.94 2,150,900.11 1,129,164.83
3,545,655.44 12,835,387.67 1,619,019.23 828,228.20 870,472.06 2,139,483.73 1,123,171.54
3,532,554.93 12,799,138.30 1,610,326.23 823,781.20 865,798.24 2,127,996.20 1,117,140.89
3,519,371.23 12,762,636.69 1,601,579.04 819,306.47 861,095.27 2,116,437.06 1,111,072.66
3,506,103.82 12,725,881.09 1,592,777.32 814,803.85 856,363.00 2,104,805.87 1,104,966.59
3,492,752.16 12,688,869.73 1,583,920.75 810,273.16 851,601.22 2,093,102.17 1,098,822.47
3,479,315.72 12,651,600.84 1,575,008.96 805,714.24 846,809.77 2,081,325.53 1,092,640.04
3,465,793.95 12,614,072.61 1,566,041.63 801,126.89 841,988.45 2,069,475.47 1,086,419.08
3,452,186.32 12,576,283.26 1,557,018.40 796,510.95 837,137.07 2,057,551.55 1,080,159.35
3,438,492.28 12,538,230.95 1,547,938.92 791,866.24 832,255.46 2,045,553.31 1,073,860.59
3,424,711.29 12,499,913.86 1,538,802.85 787,192.58 827,343.41 2,033,480.27 1,067,522.57
3,410,842.79 12,461,330.14 1,529,609.83 782,489.78 822,400.75 2,021,331.98 1,061,145.04
3,396,886.22 12,422,740.05 1,520,359.51 777,757.67 817,427.28 2,009,107.97 1,054,727.76
3,382,841.03 12,383,881.44 1,511,051.53 772,996.06 812,422.80 1,996,807.76 1,048,270.48
3,368,706.65 12,344,752.44 1,501,685.53 768,204.77 807,387.14 1,984,430.88 1,041,772.95
3,354,482.51 12,305,351.16 1,492,261.14 763,383.62 802,320.08 1,971,976.85 1,035,234.92
3,340,168.06 12,265,675.71 1,482,778.01 758,532.42 797,221.44 1,959,445.18 1,028,656.14
3,325,762.71 12,225,724.19 1,473,235.77 753,650.97 792,091.01 1,946,835.41 1,022,036.34
3,311,265.88 12,185,494.68 1,463,634.05 748,739.10 786,928.61 1,934,147.03 1,015,375.29
3,296,677.00 12,144,985.23 1,453,972.48 743,796.61 781,734.03 1,921,379.57 1,008,672.71
3,281,995.48 12,104,193.91 1,444,250.69 738,823.31 776,507.07 1,908,532.52 1,001,928.35
3,267,220.73 12,063,118.74 1,434,468.29 733,819.01 771,247.53 1,895,605.39 995,141.95
3,252,352.16 12,021,757.76 1,424,624.92 728,783.52 765,955.20 1,882,597.68 988,313.26
3,237,389.17 11,980,108.98 1,414,720.19 723,716.64 760,629.88 1,869,508.88 981,441.99
3,222,331.18 11,938,445.60 1,404,753.73 718,618.18 755,271.37 1,856,338.51 974,527.90
3,207,177.56 11,896,492.32 1,394,725.14 713,487.94 749,879.46 1,843,086.03 967,570.70
3,191,927.72 11,854,247.11 1,384,634.03 708,325.71 744,453.94 1,829,750.95 960,570.15
3,176,581.04 11,811,707.94 1,374,480.03 703,131.31 738,994.60 1,816,332.75 953,525.95
3,161,136.91 11,768,872.77 1,364,262.73 697,904.54 733,501.23 1,802,830.91 946,437.84
3,145,594.71 11,725,739.54 1,353,981.74 692,645.18 727,973.62 1,789,244.90 939,305.56
3,129,953.81 11,682,306.17 1,343,636.67 687,353.04 722,411.55 1,775,574.21 932,128.81
<CAPTION>
30 31 32
-- -- --
HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS
- -------------------------------------------------------------
DUBUQUE WATERLOO TWIN FALLS
IA IA ID
- -------------------------------------------------------------
1,498,986.70 1,566,990.92 1,268,563.31
- -------------------------------------------------------------
7.480% 7.480% 7.480%
- -------------------------------------------------------------
10TH 10TH 10TH
- -------------------------------------------------------------
<S> <C> <C>
1,153,229.73 1,205,548.08 975,955.92
1,148,701.92 1,200,814.85 972,124.12
1,144,145.88 1,196,052.12 968,268.43
1,139,561.44 1,191,259.70 964,388.71
1,134,948.43 1,186,437.41 960,484.81
1,130,306.66 1,181,585.06 956,556.57
1,125,635.96 1,176,702.46 952,603.84
1,120,936.15 1,171,789.43 948,626.48
1,116,207.03 1,166,845.78 944,624.33
1,111,448.44 1,161,871.31 940,597.22
1,106,660.19 1,156,865.83 936,545.02
1,101,842.09 1,151,829.15 932,467.56
1,096,993.96 1,146,761.07 928,364.68
1,092,115.61 1,141,661.41 924,236.23
1,087,206.85 1,136,529.95 920,082.04
1,082,267.50 1,131,366.51 915,901.96
1,077,297.35 1,126,170.89 911,695.82
1,072,296.22 1,120,942.88 907,463.46
1,067,263.92 1,115,682.28 903,204.72
1,062,200.26 1,110,388.89 898,919.44
1,057,105.02 1,105,062.50 894,607.44
1,051,978.03 1,099,702.91 890,268.57
1,046,819.08 1,094,309.92 885,902.65
1,041,627.97 1,088,883.31 881,509.52
1,036,404.51 1,083,422.87 877,089.00
1,031,148.48 1,077,928.39 872,640.93
1,025,859.70 1,072,399.67 868,165.13
1,020,537.94 1,066,836.49 863,661.43
1,015,183.01 1,061,238.62 859,129.66
1,009,794.71 1,055,605.87 854,569.64
1,004,372.81 1,049,938.00 849,981.20
998,917.13 1,044,234.80 845,364.16
993,427.43 1,038,496.06 840,718.33
987,903.51 1,032,721.54 836,043.55
982,345.17 1,026,911.03 831,339.63
976,752.17 1,021,064.30 826,606.39
971,124.31 1,015,181.12 821,843.64
965,461.37 1,009,261.27 817,051.21
959,763.14 1,003,304.52 812,228.90
954,029.38 997,310.65 807,376.53
948,259.88 991,279.41 802,493.92
942,454.42 985,210.57 797,580.87
936,612.78 979,103.91 792,637.20
930,734.71 972,959.18 787,662.71
924,820.01 966,776.15 782,657.21
918,868.45 960,554.57 777,620.52
912,879.78 954,294.22 772,552.43
906,853.78 947,994.85 767,452.74
900,790.23 941,656.20 762,321.27
894,688.87 935,278.05 757,157.81
888,549.48 928,860.14 751,962.17
882,371.83 922,402.22 746,734.14
876,155.67 915,904.06 741,473.52
869,900.76 909,365.38 736,180.12
863,606.86 902,785.95 730,853.71
857,273.73 896,165.50 725,494.11
850,901.12 889,503.79 720,101.09
844,488.79 882,800.56 714,674.46
838,036.49 876,055.54 709,214.01
</TABLE>
Page 9
<PAGE>
BALANCE
<TABLE>
<CAPTION>
15 16 17 18 19 20
-- -- -- -- -- --
CIRCUIT ECKERD FEDERAL FRED FRED FRED
CITY CORPORATION INSURANCE MEYER MEYER MEYER
- -------------------------------------------------------------------------------------------------------------------------------
ANDERSEN NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE
SC FL NJ OR WA WA
- -------------------------------------------------------------------------------------------------------------------------------
3,343,954.14 1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68
- -------------------------------------------------------------------------------------------------------------------------------
7.640% 7.190% 6.900% 7.730% 7.700% 7.700%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 1ST 1ST
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,808,443.25 776,094.04 1,570,625.33 10,816,750.78 8,068,240.11 7,985,913.04
1,793,276.84 764,615.13 1,388,831.24 10,744,356.18 8,014,163.15 7,932,387.90
1,778,013.86 753,067.45 1,205,991.83 10,671,495.24 7,959,739.19 7,878,519.31
1,762,653.71 741,450.58 1,022,101.09 10,598,164.96 7,904,966.01 7,824,305.06
1,747,195.77 729,764.11 837,152.98 10,524,362.30 7,849,841.38 7,769,742.94
1,731,639.41 718,007.61 651,141.42 10,450,084.24 7,794,363.02 7,714,830.71
1,715,984.02 706,180.67 464,060.29 10,375,327.69 7,738,528.68 7,659,566.13
1,700,228.94 694,282.87 275,903.45 10,300,089.60 7,682,336.07 7,603,946.93
1,684,373.56 682,313.78 86,664.71 10,224,366.84 7,625,782.89 7,547,970.85
1,668,417.24 670,272.98 0.00 10,148,156.30 7,568,866.83 7,491,635.58
1,652,359.33 658,160.03 0.00 10,071,454.84 7,511,585.55 7,434,938.83
1,636,199.18 645,974.51 0.00 9,994,259.30 7,453,936.72 7,377,878.27
1,619,936.14 633,715.97 0.00 9,916,566.49 7,395,917.98 7,320,451.58
1,603,569.57 621,383.99 0.00 9,838,373.20 7,337,526.95 7,262,656.39
1,587,098.79 608,978.11 0.00 9,759,676.22 7,278,761.24 7,204,490.36
1,570,523.15 596,497.91 0.00 9,680,472.30 7,219,618.46 7,145,951.09
1,553,841.97 583,942.92 0.00 9,600,758.18 7,160,096.17 7,087,036.20
1,537,054.60 571,312.71 0.00 9,520,530.56 7,100,191.95 7,027,743.27
1,520,160.34 558,606.83 0.00 9,439,786.15 7,039,903.35 6,968,069.87
1,503,158.53 545,824.82 0.00 9,358,521.60 6,979,227.89 6,908,013.57
1,486,048.47 532,966.22 0.00 9,276,733.58 6,918,163.10 6,847,571.92
1,468,829.47 520,030.57 0.00 9,194,418.71 6,856,706.48 6,786,742.42
1,451,500.85 507,017.42 0.00 9,111,573.59 6,794,855.51 6,725,522.61
1,434,061.90 493,926.30 0.00 9,028,194.81 6,732,607.66 6,663,909.96
1,416,511.93 480,756.74 0.00 8,944,278.93 6,669,960.39 6,601,901.97
1,398,850.21 467,508.28 0.00 8,859,822.49 6,606,911.13 6,539,496.10
1,381,076.06 454,180.43 0.00 8,774,822.01 6,543,457.31 6,476,689.78
1,363,188.74 440,772.73 0.00 8,689,273.99 6,479,596.32 6,413,480.46
1,345,187.54 427,284.69 0.00 8,603,174.90 6,415,325.56 6,349,865.55
1,327,071.73 413,715.84 0.00 8,516,521.18 6,350,642.40 6,285,842.44
1,308,840.58 400,065.69 0.00 8,429,309.27 6,285,544.18 6,221,408.51
1,290,493.36 386,333.75 0.00 8,341,535.58 6,220,028.26 6,156,561.14
1,272,029.33 372,519.53 0.00 8,253,196.47 6,154,091.93 6,091,297.66
1,253,447.75 358,622.54 0.00 8,164,288.31 6,087,732.52 6,025,615.41
1,234,747.86 344,642.29 0.00 8,074,807.43 6,020,947.30 5,959,511.69
1,215,928.92 330,578.27 0.00 7,984,750.15 5,953,733.54 5,892,983.81
1,196,990.17 316,429.99 0.00 7,894,112.75 5,886,088.50 5,826,029.04
1,177,930.83 302,196.93 0.00 7,802,891.49 5,818,009.39 5,758,644.65
1,158,750.16 287,878.59 0.00 7,711,082.62 5,749,493.45 5,690,827.87
1,139,447.36 273,474.46 0.00 7,618,682.34 5,680,537.86 5,622,575.94
1,120,021.67 258,984.03 0.00 7,525,686.85 5,611,139.81 5,553,886.06
1,100,472.31 244,406.78 0.00 7,432,092.32 5,541,296.46 5,484,755.41
1,080,798.48 229,742.18 0.00 7,337,894.88 5,471,004.94 5,415,181.18
1,060,999.39 214,989.72 0.00 7,243,090.65 5,400,262.38 5,345,160.51
1,041,074.25 200,148.87 0.00 7,147,675.73 5,329,065.90 5,274,690.54
1,021,022.25 185,219.09 0.00 7,051,646.17 5,257,412.57 5,203,768.39
1,000,842.59 170,199.86 0.00 6,954,998.03 5,185,299.46 5,132,391.16
980,534.45 155,090.65 0.00 6,857,727.31 5,112,723.63 5,060,555.93
960,097.02 139,890.90 0.00 6,759,830.00 5,039,682.10 4,988,259.75
939,529.47 124,600.08 0.00 6,661,302.07 4,966,171.89 4,915,499.67
918,830.97 109,217.64 0.00 6,562,139.46 4,892,189.99 4,842,272.71
898,000.69 93,743.03 0.00 6,462,338.07 4,817,733.37 4,768,575.88
877,037.79 78,175.71 0.00 6,361,893.80 4,742,798.99 4,694,406.16
855,941.43 62,515.11 0.00 6,260,802.50 4,667,383.78 4,619,760.52
834,710.75 46,760.68 0.00 6,159,060.00 4,591,484.66 4,544,635.90
813,344.91 30,911.86 0.00 6,056,662.12 4,515,098.52 4,469,029.24
791,843.03 14,968.07 0.00 5,953,604.61 4,438,222.23 4,392,937.43
770,204.26 0.00 0.00 5,849,883.25 4,360,852.65 4,316,357.36
748,427.73 0.00 0.00 5,745,493.75 4,282,986.62 4,239,285.91
<CAPTION>
21 24 25 26 27 28 29
-- -- -- -- -- -- --
HEALTH INS.
GIANT PLAN OF HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
FOOD GREATER NY MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ARLINGTON FOREST HILLS ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS
VA NY CA CA CA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59
- ------------------------------------------------------------------------------------------------------------------------------------
7.620% 8.350% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,114,213.60 11,638,570.58 1,333,227.12 682,027.91 716,814.81 1,761,818.31 924,907.33
3,098,373.44 11,594,530.67 1,322,752.68 676,669.58 711,183.19 1,747,976.66 917,640.84
3,082,432.69 11,550,184.31 1,312,212.95 671,277.86 705,516.46 1,734,048.73 910,329.05
3,066,390.71 11,505,529.37 1,301,607.52 665,852.53 699,814.41 1,720,033.99 902,971.68
3,050,246.88 11,460,563.71 1,290,935.98 660,393.38 694,076.81 1,705,931.88 895,568.46
3,034,000.52 11,415,574.13 1,280,197.92 654,900.20 688,303.46 1,691,741.87 888,119.08
3,017,651.01 11,370,271.50 1,269,392.94 649,372.78 682,494.11 1,677,463.41 880,623.27
3,001,197.67 11,324,653.64 1,258,520.59 643,810.91 676,648.55 1,663,095.95 873,080.74
2,984,639.86 11,278,718.35 1,247,580.48 638,214.37 670,766.56 1,648,638.93 865,491.20
2,967,976.90 11,232,463.44 1,236,572.18 632,582.94 664,847.90 1,634,091.80 857,854.34
2,951,208.13 11,178,922.89 1,225,495.25 626,916.41 658,892.35 1,619,453.99 850,169.88
2,934,332.88 11,125,009.79 1,214,349.28 621,214.56 652,899.68 1,604,724.93 842,437.53
2,917,350.48 11,070,721.55 1,203,133.84 615,477.17 646,869.65 1,589,904.07 834,656.97
2,900,260.23 11,016,055.55 1,191,848.48 609,704.01 640,802.03 1,574,990.82 826,827.91
2,883,061.47 10,961,009.17 1,180,492.78 603,894.87 634,696.59 1,559,984.62 818,950.06
2,865,753.49 10,905,579.75 1,169,066.30 598,049.52 628,553.10 1,544,884.87 811,023.10
2,848,335.60 10,849,764.64 1,157,568.59 592,167.73 622,371.31 1,529,691.00 803,046.72
2,830,807.11 10,793,864.57 1,145,999.21 586,249.28 616,150.99 1,514,402.43 795,020.63
2,813,167.32 10,737,575.53 1,134,357.71 580,293.94 609,891.89 1,499,018.55 786,944.51
2,795,415.51 10,680,894.81 1,122,643.65 574,301.47 603,593.78 1,483,538.78 778,818.05
2,777,550.98 10,623,819.68 1,110,856.57 568,271.66 597,256.41 1,467,962.52 770,640.93
2,759,573.01 10,566,347.41 1,098,996.02 562,204.25 590,879.54 1,452,289.17 762,412.84
2,741,480.88 10,508,475.23 1,087,061.54 556,099.03 584,462.92 1,436,518.13 754,133.47
2,723,273.86 10,450,200.35 1,075,052.67 549,955.75 578,006.30 1,420,648.77 745,802.48
2,704,951.23 10,391,519.98 1,062,968.94 543,774.18 571,509.44 1,404,680.50 737,419.57
2,686,512.25 10,332,431.29 1,050,809.89 537,554.07 564,972.08 1,388,612.69 728,984.40
2,667,956.18 10,272,931.44 1,038,575.05 531,295.20 558,393.97 1,372,444.73 720,496.65
2,649,282.28 10,213,017.57 1,026,263.94 524,997.31 551,774.85 1,356,175.98 711,956.00
2,630,489.81 10,152,686.80 1,013,876.10 518,660.16 545,114.48 1,339,805.83 703,362.11
2,611,578.00 10,092,254.82 1,001,411.04 512,283.51 538,412.59 1,323,333.64 694,714.65
2,592,546.10 10,031,402.34 988,868.28 505,867.11 531,668.92 1,306,758.77 686,013.29
2,573,393.34 9,970,126.42 976,247.33 499,410.72 524,883.22 1,290,080.58 677,257.68
2,554,118.97 9,908,424.12 963,547.72 492,914.09 518,055.23 1,273,298.43 668,447.51
2,534,722.21 9,846,292.48 950,768.94 486,376.95 511,184.67 1,256,411.68 659,582.41
2,515,202.27 9,783,728.50 937,910.51 479,799.07 504,271.28 1,239,419.66 650,662.06
2,495,558.39 9,720,729.19 924,971.93 473,180.19 497,314.80 1,222,321.72 641,686.10
2,475,789.76 9,657,291.50 911,952.70 466,520.05 490,314.96 1,205,117.21 632,654.20
2,455,895.61 9,593,412.39 898,852.31 459,818.40 483,271.49 1,187,805.46 623,565.99
2,435,875.12 9,529,088.80 885,670.27 453,074.97 476,184.11 1,170,385.80 614,421.14
2,415,727.51 9,464,317.61 872,406.06 446,289.51 469,052.55 1,152,857.55 605,219.28
2,395,451.96 9,399,095.73 859,059.16 439,461.75 461,876.55 1,135,220.05 595,960.06
2,375,047.66 9,333,754.53 845,629.08 432,591.43 454,655.81 1,117,472.60 586,643.13
2,354,513.79 9,267,958.67 832,115.27 425,678.28 447,390.06 1,099,614.53 577,268.12
2,333,849.54 9,201,704.97 818,517.24 418,722.05 440,079.02 1,081,645.15 567,834.68
2,313,054.06 9,134,990.26 804,834.44 411,722.45 432,722.41 1,063,563.75 558,342.43
2,292,126.53 9,067,811.33 791,066.35 404,679.23 425,319.94 1,045,369.65 548,791.01
2,271,066.12 9,000,164.94 777,212.44 397,592.10 417,871.33 1,027,062.14 539,180.06
2,249,871.97 8,932,047.85 763,272.17 390,460.79 410,376.29 1,008,640.51 529,509.20
2,228,543.24 8,863,456.78 749,245.01 383,285.03 402,834.54 990,104.05 519,778.06
2,207,079.06 8,794,388.42 735,130.42 376,064.55 395,245.77 971,452.05 509,986.26
2,185,478.60 8,724,839.47 720,927.84 368,799.05 387,609.70 952,683.78 500,133.42
2,163,740.97 8,654,806.57 706,636.73 361,488.27 379,926.03 933,798.53 490,219.17
2,141,865.30 8,584,286.36 692,256.54 354,131.92 372,194.46 914,795.55 480,243.12
2,119,850.73 8,513,626.69 677,786.72 346,729.71 364,414.70 895,674.13 470,204.89
2,097,696.36 8,442,475.34 663,226.70 339,281.36 356,586.45 876,433.52 460,104.08
2,075,401.31 8,370,828.90 648,575.92 331,786.58 348,709.40 857,072.97 449,940.31
2,052,964.69 8,298,683.91 633,833.82 324,245.09 340,783.26 837,591.74 439,713.19
2,030,385.59 8,226,036.92 618,999.83 316,656.59 332,807.70 817,989.08 429,422.32
2,007,663.12 8,152,884.43 604,073.37 309,020.79 324,782.43 798,264.23 419,067.30
<CAPTION>
30 31 32
-- -- --
HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS
- ------------------------------------------------------------
DUBUQUE WATERLOO TWIN FALLS
IA IA ID
- ------------------------------------------------------------
1,498,986.70 1,566,990.92 1,268,563.31
- ------------------------------------------------------------
7.480% 7.480% 7.480%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
831,543.97 869,268.47 703,719.52
825,010.98 862,439.10 698,190.77
818,437.27 855,567.16 692,627.57
811,822.58 848,652.39 687,029.69
805,166.67 841,694.51 681,396.91
798,469.26 834,693.26 675,729.03
791,730.10 827,648.37 670,025.81
784,948.94 820,559.57 664,287.05
778,125.51 813,426.58 658,512.51
771,259.54 806,249.13 652,701.98
764,350.78 799,026.94 646,855.23
757,398.96 791,759.73 640,972.03
750,403.80 784,447.23 635,052.16
743,365.03 777,089.14 629,095.39
736,282.39 769,685.18 623,101.50
729,155.61 762,235.08 617,070.23
721,984.40 754,738.53 611,001.38
714,768.49 747,195.26 604,894.69
707,507.60 739,604.97 598,749.94
700,201.45 731,967.36 592,566.89
692,849.76 724,282.15 586,345.30
685,452.24 716,549.03 580,084.93
678,008.61 708,767.71 573,785.53
670,518.59 700,937.88 567,446.86
662,981.87 693,059.25 561,068.69
655,398.18 685,131.51 554,650.76
647,767.22 677,154.36 548,192.82
640,088.68 669,127.47 541,694.63
632,362.29 661,050.56 535,155.93
624,587.74 652,923.30 528,576.48
616,764.72 644,745.38 521,956.01
608,892.94 636,516.48 515,294.28
600,972.09 628,236.29 508,591.02
593,001.87 619,904.49 501,845.98
584,981.97 611,520.75 495,058.89
576,912.08 603,084.75 488,229.50
568,791.88 594,596.17 481,357.53
560,621.07 586,054.67 474,442.74
552,399.33 577,459.94 467,484.83
544,126.34 568,811.63 460,483.56
535,801.78 560,109.41 453,438.65
527,425.33 551,352.95 446,349.83
518,996.67 542,541.91 439,216.81
510,515.47 533,675.94 432,039.34
501,981.40 524,754.71 424,817.12
493,394.14 515,777.87 417,549.89
484,753.35 506,745.08 410,237.36
476,058.70 497,655.98 402,879.24
467,309.85 488,510.22 395,475.26
458,506.47 479,307.46 388,025.13
449,648.21 470,047.33 380,528.56
440,734.74 460,729.49 372,985.26
431,765.71 451,353.56 365,394.95
422,740.76 441,919.18 357,757.31
413,659.57 432,426.00 350,072.07
404,521.77 422,873.65 342,338.93
395,327.01 413,261.75 334,557.58
386,074.93 403,589.94 326,727.73
376,765.18 393,857.84 318,849.08
</TABLE>
Page 10
<PAGE>
BALANCE
<TABLE>
<CAPTION>
15 16 17 18 19 20
-- -- -- -- -- --
CIRCUIT ECKERD FEDERAL FRED FRED FRED
CITY CORPORATION INSURANCE MEYER MEYER MEYER
- -------------------------------------------------------------------------------------------------------------------------------
ANDERSEN NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE
SC FL NJ OR WA WA
- -------------------------------------------------------------------------------------------------------------------------------
3,343,954.14 1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68
- -------------------------------------------------------------------------------------------------------------------------------
7.640% 7.190% 6.900% 7.730% 7.700% 7.700%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 1ST 1ST
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
726,512.55 0.00 0.00 5,640,431.80 4,204,620.95 4,161,719.91
704,457.84 0.00 0.00 5,534,693.09 4,125,752.43 4,083,656.20
682,262.72 0.00 0.00 5,428,273.23 4,046,377.84 4,005,091.58
659,926.29 0.00 0.00 5,321,167.86 3,966,493.92 3,926,022.84
637,447.65 0.00 0.00 5,213,372.55 3,886,097.42 3,846,446.74
614,825.90 0.00 0.00 5,104,882.86 3,805,185.04 3,766,360.03
592,060.12 0.00 0.00 4,995,694.31 3,723,753.48 3,685,759.43
569,149.40 0.00 0.00 4,885,802.41 3,641,799.39 3,604,641.63
546,092.81 0.00 0.00 4,775,202.62 3,559,319.44 3,523,003.34
522,889.43 0.00 0.00 4,663,890.38 3,476,310.23 3,440,841.20
499,538.32 0.00 0.00 4,551,861.11 3,392,768.39 3,358,151.85
476,038.55 0.00 0.00 4,439,110.18 3,308,690.48 3,274,931.91
452,389.16 0.00 0.00 4,325,632.95 3,224,073.07 3,191,177.98
428,589.20 0.00 0.00 4,211,424.74 3,138,912.71 3,106,886.62
404,637.71 0.00 0.00 4,096,480.83 3,053,205.89 3,022,054.40
380,533.74 0.00 0.00 3,980,796.49 2,966,949.13 2,936,677.83
356,276.30 0.00 0.00 3,864,366.96 2,880,138.88 2,850,753.43
331,864.42 0.00 0.00 3,747,187.42 2,792,771.60 2,764,277.69
307,297.12 0.00 0.00 3,629,253.05 2,704,843.72 2,677,247.06
282,573.41 0.00 0.00 3,510,558.99 2,616,351.63 2,589,657.98
257,692.29 0.00 0.00 3,391,100.34 2,527,291.71 2,501,506.87
232,652.76 0.00 0.00 3,270,872.18 2,437,660.33 2,412,790.13
207,453.81 0.00 0.00 3,149,869.55 2,347,453.82 2,323,504.12
182,094.43 0.00 0.00 3,028,087.46 2,256,668.47 2,233,645.19
156,573.60 0.00 0.00 2,905,520.89 2,165,300.59 2,143,209.67
130,890.28 0.00 0.00 2,782,164.79 2,073,346.44 2,052,193.85
105,043.44 0.00 0.00 2,658,014.06 1,980,802.24 1,960,594.01
79,032.05 0.00 0.00 2,533,063.61 1,887,664.22 1,868,406.41
52,855.05 0.00 0.00 2,407,308.26 1,793,928.56 1,775,627.27
26,511.39 0.00 0.00 2,280,742.83 1,699,591.43 1,682,252.80
0.00 0.00 0.00 2,153,362.12 1,604,648.97 1,588,279.17
0.00 0.00 0.00 2,025,160.86 1,509,097.30 1,493,702.55
0.00 0.00 0.00 1,896,133.77 1,412,932.50 1,398,519.06
0.00 0.00 0.00 1,766,275.53 1,316,150.65 1,302,724.81
0.00 0.00 0.00 1,635,580.79 1,218,747.78 1,206,315.89
0.00 0.00 0.00 1,504,044.16 1,120,719.91 1,109,288.33
0.00 0.00 0.00 1,371,660.21 1,022,063.02 1,011,638.19
0.00 0.00 0.00 1,238,423.49 922,773.09 913,361.45
0.00 0.00 0.00 1,104,328.50 822,846.05 814,454.11
0.00 0.00 0.00 969,369.71 722,277.81 714,912.11
0.00 0.00 0.00 833,541.57 621,064.25 614,731.38
0.00 0.00 0.00 696,838.47 519,201.25 513,907.83
0.00 0.00 0.00 559,254.77 416,684.62 412,437.32
0.00 0.00 0.00 420,784.80 313,510.17 310,315.71
0.00 0.00 0.00 281,422.86 209,673.69 207,538.83
0.00 0.00 0.00 141,163.19 105,170.93 104,102.45
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
21 24 25 26 27 28 29
-- -- -- -- -- -- --
HEALTH INS.
GIANT PLAN OF HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
FOOD GREATER NY MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ARLINGTON FOREST HILLS ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS
VA NY CA CA CA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59
- ------------------------------------------------------------------------------------------------------------------------------------
7.620% 8.350% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,984,796.36 8,079,222.92 589,053.87 301,337.38 316,707.14 778,416.42 408,647.74
1,961,784.40 8,005,048.84 573,940.75 293,606.09 308,581.51 758,444.90 398,163.22
1,938,626.31 7,930,358.64 558,733.43 285,826.61 300,405.23 738,348.89 387,613.36
1,915,321.17 7,855,148.72 543,431.31 277,998.63 292,177.99 718,127.62 376,997.73
1,891,868.04 7,779,415.46 528,033.81 270,121.86 283,899.46 697,780.30 366,315.93
1,868,265.98 7,703,155.23 512,540.33 262,195.99 275,569.33 677,306.14 355,567.55
1,844,514.05 7,626,733.16 496,950.27 254,220.71 267,187.28 656,704.37 344,752.17
1,820,611.29 7,549,779.32 481,263.04 246,195.72 258,752.97 635,974.18 333,869.38
1,796,556.75 7,472,290.01 465,478.02 238,120.71 250,266.10 615,114.76 322,918.75
1,772,349.47 7,394,261.51 449,594.61 229,995.37 241,726.32 594,125.33 311,899.86
1,747,988.47 7,315,690.05 433,612.20 221,819.38 233,133.31 573,005.06 300,812.28
1,723,472.78 7,229,238.54 417,530.16 213,592.42 224,486.74 551,753.14 289,655.60
1,698,801.41 7,142,185.48 401,347.87 205,314.18 215,786.27 530,368.75 278,429.37
1,673,973.38 7,054,526.66 385,064.72 196,984.35 207,031.57 508,851.07 267,133.16
1,648,987.69 6,966,257.89 368,680.06 188,602.58 198,222.29 487,199.26 255,766.54
1,623,843.34 6,877,374.92 352,193.28 180,168.58 189,358.11 465,412.48 244,329.07
1,598,539.32 6,787,873.46 335,603.73 171,682.00 180,438.67 443,489.90 232,820.30
1,573,074.63 6,697,749.23 318,910.77 163,142.52 171,463.64 421,430.67 221,239.80
1,547,448.23 6,607,385.12 302,113.75 154,549.81 162,432.66 399,233.94 209,587.11
1,521,659.11 6,516,392.23 285,212.04 145,903.54 153,345.38 376,898.85 197,861.79
1,495,706.22 6,424,766.18 268,204.97 137,203.38 144,201.47 354,424.54 186,063.38
1,469,588.54 6,332,502.56 251,091.89 128,448.98 135,000.55 331,810.13 174,191.42
1,443,305.01 6,239,596.95 233,872.14 119,640.02 125,742.29 309,054.77 162,245.46
1,416,854.57 6,146,044.86 216,545.05 110,776.14 116,426.31 286,157.56 150,225.04
1,390,236.18 6,051,841.81 199,109.96 101,857.02 107,052.26 263,117.62 138,129.70
1,363,448.76 5,956,983.26 181,566.19 92,882.30 97,619.79 239,934.07 125,958.96
1,336,491.24 5,861,464.66 163,913.06 83,851.63 88,128.51 216,606.01 113,712.35
1,309,362.54 5,765,281.40 146,149.90 74,764.68 78,578.08 193,132.54 101,389.41
1,282,061.57 5,668,428.87 128,276.01 65,621.08 68,968.11 169,512.75 88,989.65
1,254,587.24 5,570,902.41 110,290.71 56,420.49 59,298.24 145,745.73 76,512.60
1,226,938.45 5,473,103.94 92,193.29 47,162.55 49,568.10 121,830.56 63,957.78
1,199,114.09 5,374,624.95 73,983.08 37,846.90 39,777.30 97,766.32 51,324.70
1,171,113.04 5,275,460.71 55,659.35 28,473.18 29,925.48 73,552.08 38,612.88
1,142,934.19 5,175,606.45 37,221.40 19,041.03 20,012.24 49,186.90 25,821.81
1,114,576.40 5,075,057.38 18,668.52 9,550.09 10,037.21 24,669.85 12,951.02
1,086,038.54 4,973,808.65 0.00 0.00 0.00 0.00 0.00
1,057,319.47 4,871,855.40 0.00 0.00 0.00 0.00 0.00
1,028,418.03 4,769,192.72 0.00 0.00 0.00 0.00 0.00
999,333.06 4,665,815.69 0.00 0.00 0.00 0.00 0.00
970,063.41 4,561,719.32 0.00 0.00 0.00 0.00 0.00
940,607.89 4,456,898.61 0.00 0.00 0.00 0.00 0.00
910,965.33 4,351,348.53 0.00 0.00 0.00 0.00 0.00
881,134.54 4,245,490.93 0.00 0.00 0.00 0.00 0.00
851,114.32 4,138,896.74 0.00 0.00 0.00 0.00 0.00
820,903.48 4,031,560.83 0.00 0.00 0.00 0.00 0.00
790,500.80 3,923,478.05 0.00 0.00 0.00 0.00 0.00
759,905.06 3,814,643.19 0.00 0.00 0.00 0.00 0.00
729,115.03 3,705,051.01 0.00 0.00 0.00 0.00 0.00
698,129.49 3,594,696.26 0.00 0.00 0.00 0.00 0.00
666,947.20 3,483,573.63 0.00 0.00 0.00 0.00 0.00
635,566.89 3,371,677.77 0.00 0.00 0.00 0.00 0.00
603,987.32 3,259,003.29 0.00 0.00 0.00 0.00 0.00
572,207.22 3,145,544.79 0.00 0.00 0.00 0.00 0.00
540,225.32 3,031,296.81 0.00 0.00 0.00 0.00 0.00
508,040.33 2,916,702.14 0.00 0.00 0.00 0.00 0.00
475,650.96 2,801,310.07 0.00 0.00 0.00 0.00 0.00
443,055.93 2,685,115.07 0.00 0.00 0.00 0.00 0.00
410,253.91 2,568,111.55 0.00 0.00 0.00 0.00 0.00
377,243.60 2,450,293.87 0.00 0.00 0.00 0.00 0.00
<CAPTION>
30 31 32
-- -- --
HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS
- ------------------------------------------------------------
DUBUQUE WATERLOO TWIN FALLS
IA IA ID
- ------------------------------------------------------------
1,498,986.70 1,566,990.92 1,268,563.31
- ------------------------------------------------------------
7.480% 7.480% 7.480%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
367,397.41 384,065.08 310,921.31
357,971.24 374,211.27 302,944.12
348,486.31 364,296.05 294,917.22
338,942.26 354,319.01 286,840.27
329,338.72 344,279.79 278,712.98
319,675.32 334,177.99 270,535.04
309,951.68 324,013.23 262,306.11
300,167.44 313,785.10 254,025.89
290,322.20 303,493.22 245,694.06
280,415.60 293,137.18 237,310.29
270,447.24 282,716.59 228,874.27
260,416.75 272,231.05 220,385.66
250,323.73 261,680.15 211,844.13
240,167.80 251,063.48 203,249.37
229,948.57 240,380.63 194,601.03
219,665.63 229,631.19 185,898.78
209,318.60 218,814.75 177,142.29
198,907.08 207,930.88 168,331.22
188,430.65 196,979.18 159,465.22
177,888.92 185,959.20 150,543.96
167,281.48 174,870.54 141,567.09
156,607.92 163,712.75 132,534.27
145,867.83 152,485.42 123,445.14
135,060.80 141,188.10 114,299.35
124,186.40 129,820.37 105,096.56
113,244.21 118,381.77 95,836.40
102,233.82 106,871.87 86,518.52
91,154.80 95,290.23 77,142.56
80,006.72 83,636.40 67,708.16
68,789.14 71,909.92 58,214.94
57,501.65 60,110.35 48,662.56
46,143.80 48,237.23 39,050.63
34,715.15 36,290.09 29,378.78
23,215.26 24,268.49 19,646.65
11,643.69 12,171.96 9,853.85
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 11
<PAGE>
BALANCE
<TABLE>
<CAPTION>
15 16 17 18 19 20
-- -- -- -- -- --
CIRCUIT ECKERD FEDERAL FRED FRED FRED
CITY CORPORATION INSURANCE MEYER MEYER MEYER
- ------------------------------------------------------------------------------------------------------------------------------
ANDERSEN NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE
SC FL NJ OR WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,343,954.14 1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68
- ------------------------------------------------------------------------------------------------------------------------------
7.640% 7.190% 6.900% 7.730% 7.700% 7.700%
- ------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
21 24 25 26 27 28 29
-- -- -- -- -- -- --
HEALTH INS.
GIANT PLAN OF HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
FOOD GREATER NY MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ARLINGTON FOREST HILLS ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS
VA NY CA CA CA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59
- ------------------------------------------------------------------------------------------------------------------------------------
7.620% 8.350% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
344,023.68 2,331,656.39 0.00 0.00 0.00 0.00 0.00
310,592.81 2,212,193.38 0.00 0.00 0.00 0.00 0.00
276,949.66 2,091,899.11 0.00 0.00 0.00 0.00 0.00
243,092.87 1,970,767.79 0.00 0.00 0.00 0.00 0.00
209,021.09 1,848,793.60 0.00 0.00 0.00 0.00 0.00
174,732.95 1,725,970.67 0.00 0.00 0.00 0.00 0.00
140,227.08 1,602,293.10 0.00 0.00 0.00 0.00 0.00
105,502.11 1,478,225.64 0.00 0.00 0.00 0.00 0.00
70,556.63 1,353,294.88 0.00 0.00 0.00 0.00 0.00
35,389.24 1,227,494.80 0.00 0.00 0.00 0.00 0.00
0.00 1,100,819.37 0.00 0.00 0.00 0.00 0.00
0.00 973,262.49 0.00 0.00 0.00 0.00 0.00
0.00 837,100.63 0.00 0.00 0.00 0.00 0.00
0.00 699,991.32 0.00 0.00 0.00 0.00 0.00
0.00 561,927.95 0.00 0.00 0.00 0.00 0.00
0.00 422,903.89 0.00 0.00 0.00 0.00 0.00
0.00 282,912.46 0.00 0.00 0.00 0.00 0.00
0.00 141,946.92 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
30 31 32
-- -- --
HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS
- -------------------------------------------------------------
DUBUQUE WATERLOO TWIN FALLS
IA IA ID
- -------------------------------------------------------------
1,498,986.70 1,566,990.92 1,268,563.31
- -------------------------------------------------------------
7.480% 7.480% 7.480%
- -------------------------------------------------------------
10TH 10TH 10TH
- -------------------------------------------------------------
<S> <C> <C>
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 12
<PAGE>
BALANCE
<TABLE>
<CAPTION>
33 34 35 36 37 38 39
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE
ID IL IL LA MT OR OR
- ------------------------------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,008,825.58 1,612,759.88 1,633,370.40 798,890.02 954,094.24 1,689,189.35 1,689,189.35
2,005,621.12 1,610,187.22 1,630,764.86 797,615.64 952,572.27 1,686,494.77 1,686,494.77
2,002,396.68 1,607,598.52 1,628,143.09 796,333.31 951,040.82 1,683,783.40 1,683,783.40
1,999,152.15 1,604,993.69 1,625,504.96 795,043.00 949,499.83 1,681,055.12 1,681,055.12
1,995,887.39 1,602,372.62 1,622,850.40 793,744.63 947,949.23 1,678,309.84 1,678,309.84
1,992,602.28 1,599,735.21 1,620,179.29 792,438.18 946,388.96 1,675,547.44 1,675,547.44
1,989,296.70 1,597,081.36 1,617,491.52 791,123.58 944,818.97 1,672,767.83 1,672,767.83
1,985,970.51 1,594,410.97 1,614,787.01 789,800.79 943,239.19 1,669,970.89 1,669,970.89
1,982,623.58 1,591,723.94 1,612,065.63 788,469.75 941,649.56 1,667,156.51 1,667,156.51
1,979,255.80 1,589,020.16 1,609,327.30 787,130.41 940,050.03 1,664,324.59 1,664,324.59
1,975,867.02 1,586,299.52 1,606,571.89 785,782.73 938,440.52 1,661,475.02 1,661,475.02
1,972,457.12 1,583,561.92 1,603,799.31 784,426.64 936,820.99 1,658,607.69 1,658,607.69
1,969,025.96 1,580,807.26 1,601,009.44 783,062.11 935,191.35 1,655,722.49 1,655,722.49
1,965,573.41 1,578,035.43 1,598,202.19 781,689.06 933,551.56 1,652,819.30 1,652,819.30
1,962,099.35 1,575,246.32 1,595,377.44 780,307.46 931,901.55 1,649,898.01 1,649,898.01
1,958,603.63 1,572,439.83 1,592,535.07 778,917.25 930,241.26 1,646,958.51 1,646,958.51
1,955,086.12 1,569,615.84 1,589,675.00 777,518.37 928,570.61 1,644,000.70 1,644,000.70
1,951,546.68 1,566,774.25 1,586,797.09 776,110.77 926,889.55 1,641,024.44 1,641,024.44
1,947,985.18 1,563,914.94 1,583,901.25 774,694.40 925,198.01 1,638,029.63 1,638,029.63
1,944,401.48 1,561,037.82 1,580,987.35 773,269.20 923,495.93 1,635,016.16 1,635,016.16
1,940,795.44 1,558,142.75 1,578,055.29 771,835.11 921,783.24 1,631,983.90 1,631,983.90
1,937,166.93 1,555,229.65 1,575,104.96 770,392.09 920,059.87 1,628,932.74 1,628,932.74
1,933,515.80 1,552,298.38 1,572,136.23 768,940.07 918,325.76 1,625,862.56 1,625,862.56
1,929,841.91 1,549,348.85 1,569,149.00 767,479.00 916,580.84 1,622,773.24 1,622,773.24
1,926,145.11 1,546,380.92 1,566,143.15 766,008.82 914,825.04 1,619,664.67 1,619,664.67
1,922,425.28 1,543,394.50 1,563,118.56 764,529.48 913,058.30 1,616,536.72 1,616,536.72
1,918,682.26 1,540,389.46 1,560,075.12 763,040.92 911,280.55 1,613,389.27 1,613,389.27
1,914,915.90 1,537,365.69 1,557,012.71 761,543.07 909,491.71 1,610,222.20 1,610,222.20
1,911,126.07 1,534,323.08 1,553,931.21 760,035.90 907,691.73 1,607,035.40 1,607,035.40
1,907,312.62 1,531,261.49 1,550,830.50 758,519.32 905,880.52 1,603,828.72 1,603,828.72
1,903,475.39 1,528,180.83 1,547,710.46 756,993.30 904,058.03 1,600,602.06 1,600,602.06
1,899,614.25 1,525,080.96 1,544,570.98 755,457.76 902,224.18 1,597,355.29 1,597,355.29
1,895,729.04 1,521,961.77 1,541,411.92 753,912.65 900,378.89 1,594,088.28 1,594,088.28
1,891,819.61 1,518,823.13 1,538,233.18 752,357.91 898,522.10 1,590,800.90 1,590,800.90
1,887,885.81 1,515,664.93 1,535,034.62 750,793.47 896,653.74 1,587,493.03 1,587,493.03
1,883,927.49 1,512,487.05 1,531,816.12 749,219.29 894,773.73 1,584,164.54 1,584,164.54
1,879,944.50 1,509,289.35 1,528,577.56 747,635.29 892,882.00 1,580,815.31 1,580,815.31
1,875,936.68 1,506,071.73 1,525,318.81 746,041.42 890,978.48 1,577,445.20 1,577,445.20
1,871,903.88 1,502,834.04 1,522,039.75 744,437.62 889,063.10 1,574,054.08 1,574,054.08
1,867,845.94 1,499,576.18 1,518,740.26 742,823.82 887,135.78 1,570,641.82 1,570,641.82
1,863,762.71 1,496,298.01 1,515,420.19 741,199.96 885,196.44 1,567,208.30 1,567,208.30
1,859,654.02 1,492,999.40 1,512,079.43 739,565.97 883,245.01 1,563,753.37 1,563,753.37
1,855,519.72 1,489,680.23 1,508,717.84 737,921.80 881,281.42 1,560,276.91 1,560,276.91
1,851,359.66 1,486,340.38 1,505,335.31 736,267.39 879,305.60 1,556,778.77 1,556,778.77
<CAPTION>
40 41 42 43 44 45 48
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT KMART
- ------------------------------------------------------------------------------------------------------------------------------------
HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT
OR OR WA WA WA IL CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 6.960% 7.810%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,689,189.35 1,711,938.21 1,633,783.00 1,911,295.07 1,227,673.26 21,145,960.07 5,380,256.65
1,686,494.77 1,709,207.34 1,631,176.80 1,908,246.19 1,225,714.88 21,122,960.99 5,374,378.01
1,683,783.40 1,706,459.45 1,628,554.36 1,905,178.30 1,223,744.30 21,099,828.52 5,368,461.11
1,681,055.12 1,703,694.43 1,625,915.57 1,902,091.29 1,221,761.44 21,076,561.87 5,362,505.71
1,678,309.84 1,700,912.17 1,623,260.34 1,898,985.04 1,219,766.22 21,053,160.28 5,356,511.54
1,675,547.44 1,698,112.58 1,620,588.55 1,895,859.43 1,217,758.56 21,029,622.96 5,350,478.37
1,672,767.83 1,695,295.53 1,617,900.11 1,892,714.33 1,215,738.38 21,005,949.12 5,344,405.92
1,669,970.89 1,692,460.92 1,615,194.91 1,889,549.63 1,213,705.61 20,982,137.98 5,338,293.96
1,667,156.51 1,689,608.64 1,612,472.85 1,886,365.20 1,211,660.18 20,958,188.73 5,332,142.21
1,664,324.59 1,686,738.59 1,609,733.82 1,883,160.93 1,209,601.99 20,934,100.57 5,325,950.43
1,661,475.02 1,683,850.64 1,606,977.72 1,879,936.68 1,207,530.97 20,909,872.71 5,319,718.35
1,658,607.69 1,680,944.69 1,604,204.43 1,876,692.33 1,205,447.04 20,885,504.32 5,313,445.71
1,655,722.49 1,678,020.63 1,601,413.86 1,873,427.76 1,203,350.13 20,860,994.59 5,307,132.25
1,652,819.30 1,675,078.35 1,598,605.90 1,870,142.84 1,201,240.14 20,836,342.71 5,300,777.70
1,649,898.01 1,672,117.72 1,595,780.43 1,866,837.44 1,199,117.00 20,811,547.85 5,294,381.78
1,646,958.51 1,669,138.63 1,592,937.36 1,863,511.44 1,196,980.62 20,786,609.18 5,287,944.24
1,644,000.70 1,666,140.98 1,590,076.56 1,860,164.71 1,194,830.93 20,761,525.86 5,281,464.81
1,641,024.44 1,663,124.64 1,587,197.92 1,856,797.11 1,192,667.84 20,736,297.06 5,274,943.20
1,638,029.63 1,660,089.50 1,584,301.35 1,853,408.53 1,190,491.27 20,710,921.93 5,268,379.15
1,635,016.16 1,657,035.44 1,581,386.71 1,849,998.82 1,188,301.13 20,685,399.63 5,261,772.38
1,631,983.90 1,653,962.35 1,578,453.92 1,846,567.86 1,186,097.34 20,659,729.30 5,255,122.61
1,628,932.74 1,650,870.10 1,575,502.83 1,843,115.52 1,183,879.81 20,633,910.08 5,248,429.56
1,625,862.56 1,647,758.57 1,572,533.36 1,839,641.65 1,181,648.45 20,607,941.11 5,241,692.95
1,622,773.24 1,644,627.65 1,569,545.37 1,836,146.13 1,179,403.19 20,581,821.51 5,234,912.49
1,619,664.67 1,641,477.21 1,566,538.76 1,832,628.82 1,177,143.93 20,555,550.43 5,228,087.91
1,616,536.72 1,638,307.14 1,563,513.41 1,829,089.59 1,174,870.60 20,529,126.97 5,221,218.90
1,613,389.27 1,635,117.30 1,560,469.20 1,825,528.29 1,172,583.09 20,502,550.26 5,214,305.20
1,610,222.20 1,631,907.58 1,557,406.02 1,821,944.80 1,170,281.32 20,475,819.40 5,207,346.49
1,607,035.40 1,628,677.86 1,554,323.74 1,818,338.97 1,167,965.20 20,448,933.50 5,200,342.50
1,603,828.72 1,625,428.00 1,551,222.25 1,814,710.66 1,165,634.65 20,421,891.67 5,193,292.92
1,600,602.06 1,622,157.88 1,548,101.42 1,811,059.74 1,163,289.57 20,394,692.99 5,186,197.46
1,597,355.29 1,618,867.38 1,544,961.14 1,807,386.05 1,160,929.87 20,367,336.56 5,179,055.83
1,594,088.28 1,615,556.37 1,541,801.29 1,803,689.47 1,158,555.46 20,339,821.46 5,171,867.71
1,590,800.90 1,612,224.73 1,538,621.74 1,799,969.85 1,156,166.25 20,312,146.77 5,164,632.81
1,587,493.03 1,608,872.31 1,535,422.37 1,796,227.04 1,153,762.15 20,284,311.58 5,157,350.82
1,584,164.54 1,605,499.00 1,532,203.06 1,792,460.91 1,151,343.07 20,256,314.93 5,150,021.44
1,580,815.31 1,602,104.66 1,528,963.69 1,788,671.29 1,148,908.90 20,228,155.91 5,142,644.35
1,577,445.20 1,598,689.16 1,525,704.12 1,784,858.06 1,146,459.56 20,199,833.56 5,135,219.26
1,574,054.08 1,595,252.37 1,522,424.23 1,781,021.05 1,143,994.96 20,171,346.95 5,127,745.84
1,570,641.82 1,591,794.16 1,519,123.90 1,777,160.13 1,141,514.99 20,142,695.11 5,120,223.78
1,567,208.30 1,588,314.40 1,515,802.99 1,773,275.14 1,139,019.56 20,113,877.09 5,112,652.76
1,563,753.37 1,584,812.94 1,512,461.39 1,769,365.94 1,136,508.58 20,084,891.93 5,105,032.47
1,560,276.91 1,581,289.66 1,509,098.95 1,765,432.36 1,133,981.95 20,055,738.65 5,097,362.58
1,556,778.77 1,577,744.41 1,505,715.56 1,761,474.27 1,131,439.57 20,026,416.29 5,089,642.77
<CAPTION>
49 50
-- --
KMART KMART
- -------------------------------------------
UKIAH WOODCREST
CA CA
- -------------------------------------------
7,525,857.47 3,046,791.84
- -------------------------------------------
7.710% 7.800%
- -------------------------------------------
5TH 5TH
- -------------------------------------------
<S> <C>
7,508,369.07 3,043,081.56
7,490,768.32 3,039,347.16
7,473,054.47 3,035,588.48
7,455,226.82 3,031,805.38
7,437,284.62 3,027,997.68
7,419,227.14 3,024,165.24
7,401,053.65 3,020,307.88
7,382,763.39 3,016,425.45
7,364,355.61 3,012,517.79
7,345,829.57 3,008,584.73
7,327,184.49 3,004,626.10
7,308,419.62 3,000,641.74
7,289,534.19 2,996,631.48
7,270,527.42 2,992,595.15
7,251,398.52 2,988,532.59
7,232,146.73 2,984,443.62
7,212,771.24 2,980,328.08
7,193,271.27 2,976,185.78
7,173,646.01 2,972,016.56
7,153,894.65 2,967,820.23
7,134,016.39 2,963,596.63
7,114,010.42 2,959,345.58
7,093,875.91 2,955,066.90
7,073,612.03 2,950,760.40
7,053,217.96 2,946,425.92
7,032,692.85 2,942,063.25
7,012,035.87 2,937,672.24
6,991,246.17 2,933,252.68
6,970,322.90 2,928,804.39
6,949,265.19 2,924,327.19
6,928,072.19 2,919,820.88
6,906,743.03 2,915,285.29
6,885,276.82 2,910,720.21
6,863,672.70 2,906,125.46
6,841,929.76 2,901,500.85
6,820,047.13 2,896,846.18
6,798,023.90 2,892,161.25
6,775,859.18 2,887,445.86
6,753,552.04 2,882,699.83
6,731,101.58 2,877,922.95
6,708,506.88 2,873,115.02
6,685,767.01 2,868,275.84
6,662,881.03 2,863,405.20
6,639,848.01 2,858,502.90
</TABLE>
Page 13
<PAGE>
BALANCE
<TABLE>
<CAPTION>
33 34 35 36 37 38 39
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE
ID IL IL LA MT OR OR
- ------------------------------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,847,173.66 1,482,979.70 1,501,931.68 734,602.66 877,317.45 1,553,258.83 1,553,258.83
1,842,961.57 1,479,598.08 1,498,506.84 732,927.55 875,316.91 1,549,716.95 1,549,716.95
1,838,723.22 1,476,195.38 1,495,060.66 731,242.00 873,303.90 1,546,153.00 1,546,153.00
1,834,458.46 1,472,771.47 1,491,592.99 729,545.95 871,278.35 1,542,566.82 1,542,566.82
1,830,167.11 1,469,326.21 1,488,103.70 727,839.32 869,240.17 1,538,958.30 1,538,958.30
1,825,849.01 1,465,859.48 1,484,592.67 726,122.05 867,189.28 1,535,327.28 1,535,327.28
1,821,503.99 1,462,371.14 1,481,059.75 724,394.08 865,125.61 1,531,673.62 1,531,673.62
1,817,131.90 1,458,861.06 1,477,504.81 722,655.34 863,049.08 1,527,997.19 1,527,997.19
1,812,732.55 1,455,329.10 1,473,927.71 720,905.77 860,959.60 1,524,297.85 1,524,297.85
1,808,305.77 1,451,775.12 1,470,328.31 719,145.28 858,857.10 1,520,575.45 1,520,575.45
1,803,851.40 1,448,198.99 1,466,706.48 717,373.82 856,741.49 1,516,829.84 1,516,829.84
1,799,369.27 1,444,600.56 1,463,062.07 715,591.32 854,612.70 1,513,060.89 1,513,060.89
1,794,859.20 1,440,979.71 1,459,394.94 713,797.71 852,470.63 1,509,268.44 1,509,268.44
1,790,321.02 1,437,336.29 1,455,704.96 711,992.92 850,315.22 1,505,452.35 1,505,452.35
1,785,754.54 1,433,670.15 1,451,991.97 710,176.88 848,146.36 1,501,612.48 1,501,612.48
1,781,159.61 1,429,981.17 1,448,255.84 708,349.52 845,963.99 1,497,748.67 1,497,748.67
1,776,536.03 1,426,269.19 1,444,496.42 706,510.77 843,768.02 1,493,860.78 1,493,860.78
1,771,883.63 1,422,534.07 1,440,713.57 704,660.56 841,558.36 1,489,948.65 1,489,948.65
1,767,202.23 1,418,775.67 1,436,907.14 702,798.81 839,334.92 1,486,012.14 1,486,012.14
1,762,491.65 1,414,993.84 1,433,076.98 700,925.46 837,097.62 1,482,051.09 1,482,051.09
1,757,751.71 1,411,188.44 1,429,222.95 699,040.43 834,846.38 1,478,065.34 1,478,065.34
1,752,982.22 1,407,359.31 1,425,344.89 697,143.65 832,581.11 1,474,054.76 1,474,054.76
1,748,183.00 1,403,506.32 1,421,442.66 695,235.05 830,301.71 1,470,019.17 1,470,019.17
1,743,353.87 1,399,629.32 1,417,516.11 693,314.56 828,008.11 1,465,958.43 1,465,958.43
1,738,494.64 1,395,728.14 1,413,565.08 691,382.09 825,700.21 1,461,872.38 1,461,872.38
1,733,605.11 1,391,802.65 1,409,589.42 689,437.57 823,377.93 1,457,760.86 1,457,760.86
1,728,685.11 1,387,852.69 1,405,588.98 687,480.94 821,041.17 1,453,623.71 1,453,623.71
1,723,734.44 1,383,878.11 1,401,563.60 685,512.10 818,689.84 1,449,460.77 1,449,460.77
1,718,752.91 1,379,878.75 1,397,513.14 683,531.00 816,323.86 1,445,271.88 1,445,271.88
1,713,740.33 1,375,854.47 1,393,437.42 681,537.54 813,943.12 1,441,056.88 1,441,056.88
1,708,696.51 1,371,805.10 1,389,336.30 679,531.67 811,547.55 1,436,815.61 1,436,815.61
1,703,621.24 1,367,730.48 1,385,209.62 677,513.28 809,137.05 1,432,547.90 1,432,547.90
1,698,514.34 1,363,630.47 1,381,057.21 675,482.32 806,711.52 1,428,253.59 1,428,253.59
1,693,375.61 1,359,504.91 1,376,878.92 673,438.70 804,270.87 1,423,932.51 1,423,932.51
1,688,204.84 1,355,353.63 1,372,674.59 671,382.33 801,815.01 1,419,584.49 1,419,584.49
1,683,001.85 1,351,176.47 1,368,444.05 669,313.15 799,343.84 1,415,209.38 1,415,209.38
1,677,766.42 1,346,973.27 1,364,187.13 667,231.08 796,857.27 1,410,806.99 1,410,806.99
1,672,498.36 1,342,743.87 1,359,903.69 665,136.02 794,355.19 1,406,377.16 1,406,377.16
1,667,197.46 1,338,488.11 1,355,593.54 663,027.90 791,837.52 1,401,919.72 1,401,919.72
1,661,863.51 1,334,205.83 1,351,256.53 660,906.65 789,304.16 1,397,434.49 1,397,434.49
1,656,496.32 1,329,896.85 1,346,892.48 658,772.17 786,755.01 1,392,921.31 1,392,921.31
1,651,095.68 1,325,561.01 1,342,501.23 656,624.39 784,189.96 1,388,379.99 1,388,379.99
1,645,661.37 1,321,198.14 1,338,082.61 654,463.21 781,608.93 1,383,810.36 1,383,810.36
1,640,193.18 1,316,808.08 1,333,636.44 652,288.57 779,011.81 1,379,212.25 1,379,212.25
1,634,690.91 1,312,390.65 1,329,162.56 650,100.37 776,398.50 1,374,585.48 1,374,585.48
1,629,154.35 1,307,945.69 1,324,660.79 647,898.54 773,768.90 1,369,929.87 1,369,929.87
1,623,583.27 1,303,473.02 1,320,130.97 645,682.97 771,122.91 1,365,245.24 1,365,245.24
1,617,977.46 1,298,972.47 1,315,572.90 643,453.60 768,460.43 1,360,531.41 1,360,531.41
1,612,336.72 1,294,443.87 1,310,986.43 641,210.33 765,781.35 1,355,788.20 1,355,788.20
1,606,660.81 1,289,887.04 1,306,371.36 638,953.08 763,085.57 1,351,015.42 1,351,015.42
1,600,949.52 1,285,301.81 1,301,727.53 636,681.76 760,372.98 1,346,212.89 1,346,212.89
1,595,202.63 1,280,687.99 1,297,054.75 634,396.28 757,643.49 1,341,380.42 1,341,380.42
1,589,419.92 1,276,045.42 1,292,352.85 632,096.55 754,896.99 1,336,517.83 1,336,517.83
1,583,601.17 1,271,373.90 1,287,621.63 629,782.49 752,133.36 1,331,624.93 1,331,624.93
1,577,746.14 1,266,673.27 1,282,860.93 627,454.00 749,352.51 1,326,701.54 1,326,701.54
1,571,854.62 1,261,943.34 1,278,070.55 625,111.00 746,554.32 1,321,747.45 1,321,747.45
1,565,926.37 1,257,183.92 1,273,250.31 622,753.40 743,738.70 1,316,762.48 1,316,762.48
1,559,961.17 1,252,394.84 1,268,400.02 620,381.10 740,905.52 1,311,746.44 1,311,746.44
1,553,958.79 1,247,575.90 1,263,519.50 617,994.01 738,054.68 1,306,699.13 1,306,699.13
<CAPTION>
40 41 42 43 44 45 48
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT KMART
- ------------------------------------------------------------------------------------------------------------------------------------
HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT
OR OR WA WA WA IL CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 6.960% 7.810%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,553,258.83 1,574,177.07 1,502,311.08 1,757,491.51 1,128,881.34 19,996,923.85 5,081,872.73
1,549,716.95 1,570,587.49 1,498,885.37 1,753,483.92 1,126,307.16 19,967,260.36 5,074,052.11
1,546,153.00 1,566,975.53 1,495,438.31 1,749,451.35 1,123,716.94 19,937,424.82 5,066,180.59
1,542,566.82 1,563,341.06 1,491,969.77 1,745,393.64 1,121,110.57 19,907,416.23 5,058,257.84
1,538,958.30 1,559,683.94 1,488,479.61 1,741,310.64 1,118,487.96 19,877,233.60 5,050,283.53
1,535,327.28 1,556,004.02 1,484,967.68 1,737,202.19 1,115,848.99 19,846,875.90 5,042,257.32
1,531,673.62 1,552,301.16 1,481,433.87 1,733,068.13 1,113,193.58 19,816,342.13 5,034,178.87
1,527,997.19 1,548,575.22 1,477,878.03 1,728,908.30 1,110,521.62 19,785,631.27 5,026,047.84
1,524,297.85 1,544,826.06 1,474,300.03 1,724,722.55 1,107,833.00 19,754,742.28 5,017,863.90
1,520,575.45 1,541,053.52 1,470,699.72 1,720,510.70 1,105,127.62 19,723,674.13 5,009,626.69
1,516,829.84 1,537,257.47 1,467,076.98 1,716,272.59 1,102,405.38 19,692,425.79 5,001,335.87
1,513,060.89 1,533,437.76 1,463,431.65 1,712,008.07 1,099,666.17 19,660,996.21 4,992,991.09
1,509,268.44 1,529,594.24 1,459,763.59 1,707,716.97 1,096,909.89 19,629,384.34 4,984,592.00
1,505,452.35 1,525,726.76 1,456,072.68 1,703,399.12 1,094,136.42 19,597,589.12 4,976,138.25
1,501,612.48 1,521,835.18 1,452,358.75 1,699,054.35 1,091,345.67 19,565,609.49 4,967,629.47
1,497,748.67 1,517,919.33 1,448,621.68 1,694,682.51 1,088,537.52 19,533,444.37 4,959,065.32
1,493,860.78 1,513,979.08 1,444,861.31 1,690,283.41 1,085,711.87 19,501,092.70 4,950,445.43
1,489,948.65 1,510,014.26 1,441,077.50 1,685,856.89 1,082,868.60 19,468,553.39 4,941,769.44
1,486,012.14 1,506,024.74 1,437,270.11 1,681,402.77 1,080,007.61 19,435,825.35 4,933,036.98
1,482,051.09 1,502,010.34 1,433,438.98 1,676,920.90 1,077,128.79 19,402,907.48 4,924,247.69
1,478,065.34 1,497,970.92 1,429,583.98 1,672,411.08 1,074,232.02 19,369,798.70 4,915,401.20
1,474,054.76 1,493,906.32 1,425,704.94 1,667,873.16 1,071,317.20 19,336,497.88 4,906,497.13
1,470,019.17 1,489,816.39 1,421,801.72 1,663,306.95 1,068,384.21 19,303,003.92 4,897,535.11
1,465,958.43 1,485,700.96 1,417,874.18 1,658,712.28 1,065,432.93 19,269,315.69 4,888,514.76
1,461,872.38 1,481,559.88 1,413,922.15 1,654,088.96 1,062,463.26 19,235,432.07 4,879,435.70
1,457,760.86 1,477,392.99 1,409,945.49 1,649,436.83 1,059,475.08 19,201,351.93 4,870,297.56
1,453,623.71 1,473,200.12 1,405,944.04 1,644,755.70 1,056,468.27 19,167,074.12 4,861,099.94
1,449,460.77 1,468,981.12 1,401,917.65 1,640,045.39 1,053,442.72 19,132,597.50 4,851,842.45
1,445,271.88 1,464,735.82 1,397,866.16 1,635,305.72 1,050,398.31 19,097,920.91 4,842,524.72
1,441,056.88 1,460,464.05 1,393,789.41 1,630,536.51 1,047,334.92 19,063,043.21 4,833,146.35
1,436,815.61 1,456,165.66 1,389,687.26 1,625,737.56 1,044,252.44 19,027,963.21 4,823,706.94
1,432,547.90 1,451,840.48 1,385,559.53 1,620,908.71 1,041,150.74 18,992,679.74 4,814,206.09
1,428,253.59 1,447,488.34 1,381,406.07 1,616,049.75 1,038,029.71 18,957,191.64 4,804,643.41
1,423,932.51 1,443,109.06 1,377,226.73 1,611,160.51 1,034,889.23 18,921,497.70 4,795,018.49
1,419,584.49 1,438,702.49 1,373,021.33 1,606,240.79 1,031,729.17 18,885,596.73 4,785,330.93
1,415,209.38 1,434,268.45 1,368,789.72 1,601,290.40 1,028,549.41 18,849,487.54 4,775,580.31
1,410,806.99 1,429,806.78 1,364,531.73 1,596,309.16 1,025,349.83 18,813,168.92 4,765,766.24
1,406,377.16 1,425,317.29 1,360,247.21 1,591,296.87 1,022,130.31 18,776,639.65 4,755,888.30
1,401,919.72 1,420,799.82 1,355,935.97 1,586,253.33 1,018,890.72 18,739,898.51 4,745,946.06
1,397,434.49 1,416,254.19 1,351,597.86 1,581,178.36 1,015,630.93 18,702,944.27 4,735,939.12
1,392,921.31 1,411,680.22 1,347,232.71 1,576,071.75 1,012,350.83 18,665,775.70 4,725,867.05
1,388,379.99 1,407,077.75 1,342,840.35 1,570,933.31 1,009,050.28 18,628,391.55 4,715,729.43
1,383,810.36 1,402,446.58 1,338,420.61 1,565,762.84 1,005,729.16 18,590,790.57 4,705,525.83
1,379,212.25 1,397,786.55 1,333,973.32 1,560,560.14 1,002,387.33 18,552,971.51 4,695,255.82
1,374,585.48 1,393,097.47 1,329,498.31 1,555,325.01 999,024.67 18,514,933.09 4,684,918.97
1,369,929.87 1,388,379.16 1,324,995.41 1,550,057.25 995,641.06 18,476,674.05 4,674,514.85
1,365,245.24 1,383,631.44 1,320,464.44 1,544,756.66 992,236.35 18,438,193.11 4,664,043.01
1,360,531.41 1,378,854.12 1,315,905.22 1,539,423.02 988,810.42 18,399,488.98 4,653,503.01
1,355,788.20 1,374,047.03 1,311,317.59 1,534,056.14 985,363.14 18,360,560.37 4,642,894.42
1,351,015.42 1,369,209.97 1,306,701.36 1,528,655.80 981,894.36 18,321,405.97 4,632,216.79
1,346,212.89 1,364,342.77 1,302,056.35 1,523,221.80 978,403.97 18,282,024.47 4,621,469.66
1,341,380.42 1,359,445.22 1,297,382.40 1,517,753.93 974,891.82 18,242,414.56 4,610,652.58
1,336,517.83 1,354,517.14 1,292,679.30 1,512,251.98 971,357.77 18,202,574.92 4,599,765.11
1,331,624.93 1,349,558.35 1,287,946.89 1,506,715.73 967,801.70 18,162,504.20 4,588,806.77
1,326,701.54 1,344,568.65 1,283,184.99 1,501,144.97 964,223.46 18,122,201.08 4,577,777.12
1,321,747.45 1,339,547.84 1,278,393.40 1,495,539.49 960,622.91 18,081,664.19 4,566,675.67
1,316,762.48 1,334,495.74 1,273,571.94 1,489,899.06 956,999.93 18,040,892.20 4,555,501.98
1,311,746.44 1,329,412.15 1,268,720.43 1,484,223.48 953,354.36 17,999,883.72 4,544,255.57
1,306,699.13 1,324,296.87 1,263,838.67 1,478,512.52 949,686.06 17,958,637.40 4,532,935.96
<CAPTION>
49 50
-- --
KMART KMART
- -------------------------------------------
UKIAH WOODCREST
CA CA
- -------------------------------------------
7,525,857.47 3,046,791.84
- -------------------------------------------
7.710% 7.800%
- -------------------------------------------
5TH 5TH
- -------------------------------------------
<S> <C>
6,616,667.01 2,853,568.74
6,593,337.06 2,848,602.51
6,569,857.22 2,843,604.00
6,546,226.52 2,838,572.99
6,522,444.00 2,833,509.29
6,498,508.67 2,828,412.67
6,474,419.56 2,823,282.92
6,450,175.68 2,818,119.83
6,425,776.03 2,812,923.18
6,401,219.61 2,807,692.75
6,376,505.41 2,802,428.32
6,351,632.43 2,797,129.67
6,326,599.64 2,791,796.59
6,301,406.01 2,786,428.84
6,276,050.51 2,781,026.19
6,250,532.11 2,775,588.43
6,224,849.75 2,770,115.33
6,199,002.38 2,764,606.65
6,172,988.94 2,759,062.16
6,146,808.36 2,753,481.63
6,120,459.58 2,747,864.84
6,093,941.50 2,742,211.53
6,067,253.04 2,736,521.47
6,040,393.11 2,730,794.43
6,013,360.61 2,725,030.17
5,986,154.42 2,719,228.43
5,958,773.43 2,713,388.99
5,931,216.52 2,707,511.58
5,903,482.56 2,701,595.98
5,875,570.40 2,695,641.92
5,847,478.91 2,689,649.17
5,819,206.94 2,683,617.46
5,790,753.31 2,677,546.54
5,762,116.87 2,671,436.16
5,733,296.44 2,665,286.07
5,704,290.84 2,659,096.00
5,675,098.88 2,652,865.69
5,645,719.36 2,646,594.89
5,616,151.08 2,640,283.32
5,586,392.82 2,633,930.74
5,556,443.36 2,627,536.86
5,526,301.48 2,621,101.41
5,495,965.94 2,614,624.14
5,465,435.49 2,608,104.77
5,434,708.88 2,601,543.02
5,403,784.86 2,594,938.62
5,372,662.14 2,588,291.29
5,341,339.47 2,581,600.76
5,309,815.54 2,574,866.73
5,278,089.08 2,568,088.93
5,246,158.77 2,561,267.08
5,214,023.31 2,554,400.89
5,181,681.38 2,547,490.06
5,149,131.65 2,540,534.32
5,116,372.79 2,533,533.36
5,083,403.46 2,526,486.90
5,050,222.30 2,519,394.63
5,016,827.94 2,512,256.27
4,983,219.03 2,505,071.51
</TABLE>
Page 14
<PAGE>
BALANCE
<TABLE>
<CAPTION>
33 34 35 36 37 38 39
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE
ID IL IL LA MT OR OR
- ------------------------------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,547,918.99 1,242,726.93 1,258,608.56 615,592.04 735,186.07 1,301,620.36 1,301,620.36
1,541,841.55 1,237,847.73 1,253,667.01 613,175.10 732,299.58 1,296,509.94 1,296,509.94
1,535,726.22 1,232,938.12 1,248,694.65 610,743.10 729,395.10 1,291,367.66 1,291,367.66
1,529,572.77 1,227,997.90 1,243,691.30 608,295.93 726,472.51 1,286,193.32 1,286,193.32
1,523,380.97 1,223,026.89 1,238,656.76 605,833.51 723,531.70 1,280,986.73 1,280,986.73
1,517,150.57 1,218,024.90 1,233,590.84 603,355.75 720,572.57 1,275,747.69 1,275,747.69
1,510,881.34 1,212,991.72 1,228,493.35 600,862.53 717,594.99 1,270,475.99 1,270,475.99
1,504,573.03 1,207,927.17 1,223,364.07 598,353.78 714,598.85 1,265,171.43 1,265,171.43
1,498,225.39 1,202,831.06 1,218,202.83 595,829.39 711,584.03 1,259,833.81 1,259,833.81
1,491,838.19 1,197,703.17 1,213,009.41 593,289.26 708,550.42 1,254,462.91 1,254,462.91
1,485,411.17 1,192,543.33 1,207,783.63 590,733.30 705,497.90 1,249,058.54 1,249,058.54
1,478,944.10 1,187,351.32 1,202,525.26 588,161.41 702,426.35 1,243,620.47 1,243,620.47
1,472,436.71 1,182,126.94 1,197,234.13 585,573.49 699,335.66 1,238,148.52 1,238,148.52
1,465,888.76 1,176,870.00 1,191,910.01 582,969.43 696,225.70 1,232,642.45 1,232,642.45
1,459,299.99 1,171,580.30 1,186,552.70 580,349.14 693,096.36 1,227,102.06 1,227,102.06
1,452,670.15 1,166,257.62 1,181,162.00 577,712.52 689,947.51 1,221,527.14 1,221,527.14
1,445,998.99 1,160,901.76 1,175,737.69 575,059.47 686,779.03 1,215,917.46 1,215,917.46
1,439,286.24 1,155,512.52 1,170,279.58 572,389.87 683,590.81 1,210,272.82 1,210,272.82
1,432,531.66 1,150,089.68 1,164,787.44 569,703.64 680,382.71 1,204,592.99 1,204,592.99
1,425,734.96 1,144,633.04 1,159,261.07 567,000.66 677,154.61 1,198,877.76 1,198,877.76
1,418,895.90 1,139,142.39 1,153,700.25 564,280.84 673,906.39 1,193,126.91 1,193,126.91
1,412,014.22 1,133,617.52 1,148,104.77 561,544.06 670,637.92 1,187,340.21 1,187,340.21
1,405,089.63 1,128,058.20 1,142,474.41 558,790.22 667,349.08 1,181,517.43 1,181,517.43
1,398,121.88 1,122,464.24 1,136,808.95 556,019.22 664,039.74 1,175,658.37 1,175,658.37
1,391,110.70 1,116,835.40 1,131,108.18 553,230.94 660,709.77 1,169,762.78 1,169,762.78
1,384,055.82 1,111,171.48 1,125,371.87 550,425.28 657,359.05 1,163,830.44 1,163,830.44
1,376,956.96 1,105,472.25 1,119,599.81 547,602.14 653,987.43 1,157,861.12 1,157,861.12
1,369,813.85 1,099,737.50 1,113,791.77 544,761.39 650,594.81 1,151,854.59 1,151,854.59
1,362,626.22 1,093,967.00 1,107,947.53 541,902.94 647,181.03 1,145,810.63 1,145,810.63
1,355,393.78 1,088,160.53 1,102,066.85 539,026.67 643,745.97 1,139,728.99 1,139,728.99
1,348,116.26 1,082,317.87 1,096,149.52 536,132.48 640,289.51 1,133,609.44 1,133,609.44
1,340,793.38 1,076,438.78 1,090,195.31 533,220.24 636,811.50 1,127,451.74 1,127,451.74
1,333,424.85 1,070,523.06 1,084,203.98 530,289.85 633,311.80 1,121,255.67 1,121,255.67
1,326,010.39 1,064,570.45 1,078,175.30 527,341.19 629,790.30 1,115,020.97 1,115,020.97
1,318,549.72 1,058,580.74 1,072,109.05 524,374.16 626,246.84 1,108,747.40 1,108,747.40
1,311,042.54 1,052,553.70 1,066,004.98 521,388.62 622,681.30 1,102,434.74 1,102,434.74
1,303,488.56 1,046,489.09 1,059,862.87 518,384.48 619,093.53 1,096,082.72 1,096,082.72
1,295,887.50 1,040,386.67 1,053,682.47 515,361.62 615,483.39 1,089,691.11 1,089,691.11
1,288,239.06 1,034,246.22 1,047,463.54 512,319.91 611,850.76 1,083,259.66 1,083,259.66
1,280,542.95 1,028,067.49 1,041,205.85 509,259.24 608,195.48 1,076,788.12 1,076,788.12
1,272,798.86 1,021,850.25 1,034,909.15 506,179.49 604,517.41 1,070,276.23 1,070,276.23
1,265,006.50 1,015,594.25 1,028,573.21 503,080.55 600,816.42 1,063,723.76 1,063,723.76
1,257,165.56 1,009,299.26 1,022,197.77 499,962.28 597,092.36 1,057,130.45 1,057,130.45
1,249,275.76 1,002,965.03 1,015,782.59 496,824.59 593,345.08 1,050,496.03 1,050,496.03
1,241,336.77 996,591.32 1,009,327.42 493,667.33 589,574.45 1,043,820.27 1,043,820.27
1,233,348.29 990,177.87 1,002,832.01 490,490.39 585,780.32 1,037,102.89 1,037,102.89
1,225,310.02 983,724.45 996,296.12 487,293.65 581,962.53 1,030,343.63 1,030,343.63
1,217,221.65 977,230.80 989,719.48 484,076.99 578,120.95 1,023,542.25 1,023,542.25
1,209,082.86 970,696.68 983,101.85 480,840.27 574,255.42 1,016,698.47 1,016,698.47
1,200,893.33 964,121.82 976,442.98 477,583.38 570,365.79 1,009,812.03 1,009,812.03
1,192,652.76 957,505.99 969,742.59 474,306.18 566,451.92 1,002,882.66 1,002,882.66
1,184,360.83 950,848.91 963,000.44 471,008.56 562,513.66 995,910.11 995,910.11
1,176,017.20 944,150.34 956,216.26 467,690.39 558,550.84 988,894.09 988,894.09
1,167,621.57 937,410.01 949,389.80 464,351.53 554,563.32 981,834.33 981,834.33
1,159,173.60 930,627.67 942,520.78 460,991.85 550,550.95 974,730.57 974,730.57
1,150,672.98 923,803.05 935,608.95 457,611.24 546,513.57 967,582.53 967,582.53
1,142,119.37 916,935.90 928,654.03 454,209.55 542,451.02 960,389.94 960,389.94
1,133,512.44 910,025.93 921,655.76 450,786.66 538,363.15 953,152.51 953,152.51
1,124,851.86 903,072.90 914,613.87 447,342.44 534,249.80 945,869.97 945,869.97
<CAPTION>
40 41 42 43 44 45 48
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT KMART
- ------------------------------------------------------------------------------------------------------------------------------------
HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT
OR OR WA WA WA IL CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 6.960% 7.810%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,301,620.36 1,319,149.70 1,258,926.49 1,472,765.96 945,994.90 17,917,151.84 4,521,542.68
1,296,509.94 1,313,970.45 1,253,983.69 1,466,983.58 942,280.73 17,875,425.67 4,510,075.24
1,291,367.66 1,308,758.92 1,249,010.08 1,461,165.16 938,543.41 17,833,457.49 4,498,533.18
1,286,193.32 1,303,514.90 1,244,005.46 1,455,310.47 934,782.80 17,791,245.90 4,486,915.99
1,280,986.73 1,298,238.19 1,238,969.65 1,449,419.28 930,998.74 17,748,789.47 4,475,223.19
1,275,747.69 1,292,928.59 1,233,902.46 1,443,491.38 927,191.10 17,706,086.80 4,463,454.30
1,270,475.99 1,287,585.90 1,228,803.67 1,437,526.52 923,359.72 17,663,136.46 4,451,608.81
1,265,171.43 1,282,209.90 1,223,673.10 1,431,524.48 919,504.46 17,619,937.00 4,439,686.22
1,259,833.81 1,276,800.39 1,218,510.56 1,425,485.03 915,625.16 17,576,486.98 4,427,686.04
1,254,462.91 1,271,357.16 1,213,315.83 1,419,407.93 911,721.69 17,532,784.96 4,415,607.75
1,249,058.54 1,265,880.01 1,208,088.72 1,413,292.96 907,793.89 17,488,829.46 4,403,450.86
1,243,620.47 1,260,368.71 1,202,829.03 1,407,139.86 903,841.60 17,444,619.02 4,391,214.85
1,238,148.52 1,254,823.06 1,197,536.55 1,400,948.42 899,864.67 17,400,152.16 4,378,899.20
1,232,642.45 1,249,242.84 1,192,211.09 1,394,718.37 895,862.96 17,355,427.39 4,366,503.39
1,227,102.06 1,243,627.83 1,186,852.43 1,388,449.50 891,836.30 17,310,443.22 4,354,026.91
1,221,527.14 1,237,977.83 1,181,460.37 1,382,141.55 887,784.55 17,265,198.14 4,341,469.23
1,215,917.46 1,232,292.61 1,176,034.69 1,375,794.28 883,707.53 17,219,690.64 4,328,829.82
1,210,272.82 1,226,571.95 1,170,575.20 1,369,407.44 879,605.11 17,173,919.20 4,316,108.15
1,204,592.99 1,220,815.63 1,165,081.67 1,362,980.79 875,477.11 17,127,882.28 4,303,303.68
1,198,877.76 1,215,023.43 1,159,553.91 1,356,514.09 871,323.38 17,081,578.35 4,290,415.87
1,193,126.91 1,209,195.13 1,153,991.68 1,350,007.07 867,143.76 17,035,005.85 4,277,444.19
1,187,340.21 1,203,330.49 1,148,394.79 1,343,459.50 862,938.08 16,988,163.23 4,264,388.08
1,181,517.43 1,197,429.30 1,142,763.00 1,336,871.11 858,706.19 16,941,048.93 4,251,247.00
1,175,658.37 1,191,491.33 1,137,096.12 1,330,241.65 854,447.93 16,893,661.36 4,238,020.39
1,169,762.78 1,185,516.34 1,131,393.91 1,323,570.87 850,163.12 16,845,998.95 4,224,707.70
1,163,830.44 1,179,504.11 1,125,656.15 1,316,858.51 845,851.60 16,798,060.09 4,211,308.37
1,157,861.12 1,173,454.40 1,119,882.63 1,310,104.31 841,513.20 16,749,843.19 4,197,821.83
1,151,854.59 1,167,366.99 1,114,073.12 1,303,308.00 837,147.76 16,701,346.63 4,184,247.51
1,145,810.63 1,161,241.62 1,108,227.40 1,296,469.34 832,755.11 16,652,568.79 4,170,584.85
1,139,728.99 1,155,078.08 1,102,345.24 1,289,588.04 828,335.08 16,603,508.04 4,156,833.27
1,133,609.44 1,148,876.12 1,096,426.42 1,282,663.85 823,887.50 16,554,162.74 4,142,992.18
1,127,451.74 1,142,635.49 1,090,470.70 1,275,696.50 819,412.20 16,504,531.23 4,129,061.02
1,121,255.67 1,136,355.97 1,084,477.86 1,268,685.73 814,909.00 16,454,611.86 4,115,039.18
1,115,020.97 1,130,037.31 1,078,447.66 1,261,631.25 810,377.73 16,404,402.96 4,100,926.09
1,108,747.40 1,123,679.26 1,072,379.87 1,254,532.80 805,818.21 16,353,902.85 4,086,721.14
1,102,434.74 1,117,281.57 1,066,274.26 1,247,390.10 801,230.28 16,303,109.84 4,072,423.75
1,096,082.72 1,110,844.01 1,060,130.60 1,240,202.87 796,613.74 16,252,022.22 4,058,033.30
1,089,691.11 1,104,366.32 1,053,948.63 1,232,970.85 791,968.43 16,200,638.30 4,043,549.19
1,083,259.66 1,097,848.26 1,047,728.14 1,225,693.75 787,294.16 16,148,956.35 4,028,970.82
1,076,788.12 1,091,289.56 1,041,468.87 1,218,371.29 782,590.76 16,096,974.65 4,014,297.56
1,070,276.23 1,084,689.98 1,035,170.58 1,211,003.18 777,858.04 16,044,691.45 3,999,528.81
1,063,723.76 1,078,049.27 1,028,833.03 1,203,589.15 773,095.82 15,992,105.02 3,984,663.94
1,057,130.45 1,071,367.16 1,022,455.98 1,196,128.90 768,303.91 15,939,213.57 3,969,702.32
1,050,496.03 1,064,643.40 1,016,039.18 1,188,622.15 763,482.14 15,886,015.36 3,954,643.32
1,043,820.27 1,057,877.72 1,009,582.38 1,181,068.61 758,630.30 15,832,508.60 3,939,486.32
1,037,102.89 1,051,069.88 1,003,085.33 1,173,467.98 753,748.23 15,778,691.50 3,924,230.67
1,030,343.63 1,044,219.60 996,547.79 1,165,819.98 748,835.72 15,724,562.26 3,908,875.73
1,023,542.25 1,037,326.61 989,969.49 1,158,124.31 743,892.60 15,670,119.07 3,893,420.86
1,016,698.47 1,030,390.67 983,350.19 1,150,380.66 738,918.66 15,615,360.11 3,877,865.40
1,009,812.03 1,023,411.49 976,689.63 1,142,588.75 733,913.71 15,560,283.55 3,862,208.70
1,002,882.66 1,016,388.80 969,987.56 1,134,748.26 728,877.57 15,504,887.55 3,846,450.10
995,910.11 1,009,322.34 963,243.70 1,126,858.91 723,810.04 15,449,170.25 3,830,588.94
988,894.09 1,002,211.83 956,457.81 1,118,920.38 718,710.92 15,393,129.78 3,814,624.55
981,834.33 995,057.00 949,629.62 1,110,932.36 713,580.01 15,336,764.29 3,798,556.26
974,730.57 987,857.58 942,758.87 1,102,894.55 708,417.12 15,280,071.87 3,782,383.39
967,582.53 980,613.27 935,845.29 1,094,806.64 703,222.05 15,223,050.64 3,766,105.26
960,389.94 973,323.81 928,888.61 1,086,668.31 697,994.60 15,165,698.68 3,749,721.19
953,152.51 965,988.91 921,888.58 1,078,479.26 692,734.57 15,108,014.08 3,733,230.48
945,869.97 958,608.29 914,844.91 1,070,239.16 687,441.74 15,049,994.91 3,716,632.45
<CAPTION>
49 50
-- --
KMART KMART
- ------------------------------------------
UKIAH WOODCREST
CA CA
- ------------------------------------------
7,525,857.47 3,046,791.84
- ------------------------------------------
7.710% 7.800%
- ------------------------------------------
5TH 5TH
- ------------------------------------------
<S> <C>
4,949,394.19 2,497,840.04
4,915,352.01 2,490,561.57
4,881,091.12 2,483,235.79
4,846,610.10 2,475,862.39
4,811,907.54 2,468,441.07
4,776,982.02 2,460,971.51
4,741,832.10 2,453,453.39
4,706,456.34 2,445,886.41
4,670,853.29 2,438,270.24
4,635,021.49 2,430,604.57
4,598,959.48 2,422,889.07
4,562,665.76 2,415,123.41
4,526,138.86 2,407,307.29
4,489,377.27 2,399,440.35
4,452,379.49 2,391,522.29
4,415,144.00 2,383,552.75
4,377,669.27 2,375,531.41
4,339,953.76 2,367,457.94
4,301,995.93 2,359,331.99
4,263,794.23 2,351,153.21
4,225,347.08 2,342,921.28
4,186,652.90 2,334,635.84
4,147,710.12 2,326,296.54
4,108,517.12 2,317,903.04
4,069,072.32 2,309,454.98
4,029,374.08 2,300,952.01
3,989,420.77 2,292,393.76
3,949,210.77 2,283,779.89
3,908,742.42 2,275,110.03
3,868,014.06 2,266,383.82
3,827,024.02 2,257,600.88
3,785,770.62 2,248,760.86
3,744,252.17 2,239,863.37
3,702,466.96 2,230,908.06
3,660,413.28 2,221,894.53
3,618,089.40 2,212,822.41
3,575,493.60 2,203,691.33
3,532,624.11 2,194,500.89
3,489,479.19 2,185,250.72
3,446,057.07 2,175,940.42
3,402,355.96 2,166,569.60
3,358,374.06 2,157,137.87
3,314,109.59 2,147,644.84
3,269,560.71 2,138,090.10
3,224,725.61 2,128,473.25
3,179,602.44 2,118,793.90
3,134,189.36 2,109,051.63
3,088,484.49 2,099,246.04
3,042,485.97 2,089,376.71
2,996,191.92 2,079,443.22
2,949,600.42 2,069,445.18
2,902,709.57 2,059,382.14
2,855,517.45 2,049,253.69
2,808,022.12 2,039,059.41
2,760,221.63 2,028,798.87
2,712,114.03 2,018,471.63
2,663,697.33 2,008,077.27
2,614,969.56 1,997,615.34
2,565,928.70 1,987,085.41
</TABLE>
Page 15
<PAGE>
BALANCE
<TABLE>
<CAPTION>
33 34 35 36 37 38 39
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE
ID IL IL LA MT OR OR
- ------------------------------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,116,137.29 896,076.52 907,528.08 443,876.74 530,110.80 938,542.03 938,542.03
1,107,368.41 889,036.54 900,398.12 440,389.44 525,946.01 931,168.41 931,168.41
1,098,544.87 881,952.67 893,223.73 436,880.41 521,755.26 923,748.84 923,748.84
1,089,666.32 874,824.64 886,004.61 433,349.50 517,538.38 916,283.01 916,283.01
1,080,732.44 867,652.19 878,740.49 429,796.58 513,295.22 908,770.65 908,770.65
1,071,742.86 860,435.02 871,431.09 426,221.51 509,025.61 901,211.46 901,211.46
1,062,697.25 853,172.87 864,076.13 422,624.17 504,729.39 893,605.15 893,605.15
1,053,595.26 845,865.45 856,675.33 419,004.39 500,406.38 885,951.43 885,951.43
1,044,436.53 838,512.48 849,228.39 415,362.06 496,056.43 878,250.00 878,250.00
1,035,220.71 831,113.68 841,735.03 411,697.02 491,679.37 870,500.57 870,500.57
1,025,947.45 823,668.76 834,194.97 408,009.13 487,275.02 862,702.83 862,702.83
1,016,616.38 816,177.43 826,607.90 404,298.26 482,843.22 854,856.48 854,856.48
1,007,227.15 808,639.41 818,973.55 400,564.25 478,383.79 846,961.23 846,961.23
997,779.39 801,054.40 811,291.60 396,806.97 473,896.57 839,016.76 839,016.76
988,272.74 793,422.10 803,561.77 393,026.28 469,381.37 831,022.77 831,022.77
978,706.83 785,742.24 795,783.76 389,222.01 464,838.03 822,978.95 822,978.95
969,081.30 778,014.50 787,957.27 385,394.03 460,266.37 814,884.99 814,884.99
959,395.77 770,238.60 780,081.99 381,542.19 455,666.22 806,740.58 806,740.58
949,649.86 762,414.22 772,157.62 377,666.34 451,037.39 798,545.40 798,545.40
939,843.21 754,541.07 764,183.85 373,766.33 446,379.70 790,299.14 790,299.14
929,975.42 746,618.85 756,160.39 369,842.01 441,692.99 782,001.48 782,001.48
920,046.13 738,647.24 748,086.91 365,893.23 436,977.06 773,652.10 773,652.10
910,054.94 730,625.95 739,963.10 361,919.83 432,231.73 765,250.67 765,250.67
900,001.48 722,554.65 731,788.66 357,921.67 427,456.82 756,796.87 756,796.87
889,885.35 714,433.05 723,563.26 353,898.58 422,652.15 748,290.38 748,290.38
879,706.16 706,260.81 715,286.59 349,850.42 417,817.54 739,730.86 739,730.86
869,463.52 698,037.64 706,958.33 345,777.03 412,952.78 731,117.99 731,117.99
859,157.04 689,763.21 698,578.16 341,678.24 408,057.70 722,451.43 722,451.43
848,786.31 681,437.21 690,145.75 337,553.90 403,132.11 713,730.85 713,730.85
838,350.94 673,059.30 681,660.78 333,403.86 398,175.82 704,955.92 704,955.92
827,850.52 664,629.18 673,122.92 329,227.95 393,188.63 696,126.28 696,126.28
817,284.65 656,146.50 664,531.83 325,026.00 388,170.36 687,241.61 687,241.61
806,652.91 647,610.95 655,887.20 320,797.87 383,120.80 678,301.56 678,301.56
795,954.91 639,022.20 647,188.69 316,543.38 378,039.77 669,305.78 669,305.78
785,190.22 630,379.91 638,435.95 312,262.37 372,927.07 660,253.92 660,253.92
774,358.43 621,683.74 629,628.65 307,954.68 367,782.50 651,145.64 651,145.64
763,459.13 612,933.38 620,766.46 303,620.13 362,605.86 641,980.59 641,980.59
752,491.88 604,128.46 611,849.02 299,258.57 357,396.95 632,758.41 632,758.41
741,456.28 595,268.67 602,876.00 294,869.81 352,155.58 623,478.74 623,478.74
730,351.88 586,353.65 593,847.05 290,453.71 346,881.53 614,141.24 614,141.24
719,178.27 577,383.05 584,761.82 286,010.07 341,574.61 604,745.52 604,745.52
707,935.01 568,356.54 575,619.95 281,538.74 336,234.61 595,291.24 595,291.24
696,621.66 559,273.77 566,421.10 277,039.53 330,861.32 585,778.03 585,778.03
685,237.80 550,134.38 557,164.91 272,512.28 325,454.54 576,205.52 576,205.52
673,782.97 540,938.02 547,851.03 267,956.81 320,014.06 566,573.34 566,573.34
662,256.75 531,684.34 538,479.09 263,372.95 314,539.66 556,881.12 556,881.12
650,658.67 522,372.97 529,048.73 258,760.51 309,031.14 547,128.49 547,128.49
638,988.30 513,003.57 519,559.58 254,119.32 303,488.29 537,315.06 537,315.06
627,245.19 503,575.76 510,011.29 249,449.20 297,910.88 527,440.47 527,440.47
615,428.88 494,089.19 500,403.48 244,749.97 292,298.71 517,504.32 517,504.32
603,538.91 484,543.48 490,735.78 240,021.45 286,651.55 507,506.24 507,506.24
591,574.83 474,938.27 481,007.82 235,263.45 280,969.20 497,445.83 497,445.83
579,536.18 465,273.19 471,219.22 230,475.79 275,251.42 487,322.72 487,322.72
567,422.48 455,547.86 461,369.61 225,658.30 269,498.01 477,136.50 477,136.50
555,233.27 445,761.91 451,458.60 220,810.77 263,708.73 466,886.79 466,886.79
542,968.09 435,914.97 441,485.81 215,933.03 257,883.36 456,573.19 456,573.19
530,626.45 426,006.64 431,450.86 211,024.88 252,021.68 446,195.31 446,195.31
518,207.88 416,036.55 421,353.36 206,086.14 246,123.47 435,752.73 435,752.73
505,711.90 406,004.32 411,192.92 201,116.61 240,188.49 425,245.06 425,245.06
<CAPTION>
40 41 42 43 44 45 48
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT KMART
- ------------------------------------------------------------------------------------------------------------------------------------
HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT
OR OR WA WA WA IL CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 6.960% 7.810%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
938,542.03 951,181.67 907,757.33 1,061,947.70 682,115.92 14,991,639.23 3,699,926.39
931,168.41 943,708.75 900,625.57 1,053,604.55 676,756.91 14,932,945.09 3,683,111.61
923,748.84 936,189.25 893,449.36 1,045,209.40 671,364.49 14,873,910.52 3,666,187.39
916,283.01 928,622.88 886,228.42 1,036,761.92 665,938.46 14,814,533.55 3,649,153.02
908,770.65 921,009.35 878,962.47 1,028,261.78 660,478.61 14,754,812.20 3,632,007.78
901,211.46 913,348.36 871,651.22 1,019,708.66 654,984.72 14,694,744.46 3,614,750.96
893,605.15 905,639.61 864,294.41 1,011,102.22 649,456.59 14,634,328.33 3,597,381.82
885,951.43 897,882.81 856,891.73 1,002,442.14 643,894.00 14,573,561.78 3,579,899.64
878,250.00 890,077.67 849,442.91 993,728.08 638,296.73 14,512,442.79 3,562,303.68
870,500.57 882,223.87 841,947.66 984,959.70 632,664.58 14,450,969.31 3,544,593.20
862,702.83 874,321.11 834,405.69 976,136.66 626,997.32 14,389,139.28 3,526,767.46
854,856.48 866,369.10 826,816.71 967,258.62 621,294.73 14,326,950.64 3,508,825.69
846,961.23 858,367.52 819,180.43 958,325.25 615,556.60 14,264,401.30 3,490,767.16
839,016.76 850,316.06 811,496.54 949,336.19 609,782.70 14,201,489.18 3,472,591.10
831,022.77 842,214.41 803,764.76 940,291.10 603,972.81 14,138,212.17 3,454,296.74
822,978.95 834,062.26 795,984.78 931,189.63 598,126.70 14,074,568.15 3,435,883.31
814,884.99 825,859.30 788,156.31 922,031.42 592,244.15 14,010,554.99 3,417,350.05
806,740.58 817,605.21 780,279.04 912,816.13 586,324.94 13,946,170.56 3,398,696.16
798,545.40 809,299.66 772,352.67 903,543.40 580,368.83 13,881,412.70 3,379,920.87
790,299.14 800,942.35 764,376.89 894,212.87 574,375.59 13,816,279.24 3,361,023.38
782,001.48 792,532.94 756,351.40 884,824.17 568,345.00 13,750,768.01 3,342,002.90
773,652.10 784,071.11 748,275.88 875,376.96 562,276.81 13,684,876.82 3,322,858.63
765,250.67 775,556.54 740,150.02 865,870.85 556,170.80 13,618,603.45 3,303,589.76
756,796.87 766,988.89 731,973.52 856,305.49 550,026.73 13,551,945.70 3,284,195.48
748,290.38 758,367.84 723,746.04 846,680.51 543,844.36 13,484,901.34 3,264,674.98
739,730.86 749,693.05 715,467.28 836,995.53 537,623.45 13,417,468.12 3,245,027.43
731,117.99 740,964.18 707,136.92 827,250.19 531,363.77 13,349,643.78 3,225,252.02
722,451.43 732,180.91 698,754.63 817,444.09 525,065.06 13,281,426.06 3,205,347.89
713,730.85 723,342.89 690,320.09 807,576.87 518,727.10 13,212,812.69 3,185,314.22
704,955.92 714,449.78 681,832.97 797,648.15 512,349.63 13,143,801.35 3,165,150.17
696,126.28 705,501.23 673,292.96 787,657.54 505,932.40 13,074,389.75 3,144,854.88
687,241.61 696,496.90 664,699.70 777,604.65 499,475.18 13,004,575.56 3,124,427.51
678,301.56 687,436.45 656,052.89 767,489.10 492,977.70 12,934,356.45 3,103,867.18
669,305.78 678,319.52 647,352.18 757,310.49 486,439.73 12,863,730.06 3,083,173.04
660,253.92 669,145.76 638,597.23 747,068.44 479,861.00 12,792,694.05 3,062,344.22
651,145.64 659,914.82 629,787.71 736,762.55 473,241.26 12,721,246.02 3,041,379.84
641,980.59 650,626.34 620,923.27 726,392.41 466,580.26 12,649,383.60 3,020,279.01
632,758.41 641,279.96 612,003.59 715,957.64 459,877.74 12,577,104.38 2,999,040.85
623,478.74 631,875.32 603,028.30 705,457.82 453,133.44 12,504,405.93 2,977,664.47
614,141.24 622,412.06 593,997.06 694,892.56 446,347.11 12,431,285.84 2,956,148.97
604,745.52 612,889.81 584,909.54 684,261.43 439,518.47 12,357,741.64 2,934,493.43
595,291.24 603,308.21 575,765.36 673,564.04 432,647.26 12,283,770.89 2,912,696.95
585,778.03 593,666.88 566,564.19 662,799.97 425,733.23 12,209,371.12 2,890,758.61
576,205.52 583,965.46 557,305.66 651,968.81 418,776.09 12,134,539.82 2,868,677.49
566,573.34 574,203.56 547,989.42 641,070.12 411,775.59 12,059,274.50 2,846,452.66
556,881.12 564,380.81 538,615.12 630,103.51 404,731.46 11,983,572.64 2,824,083.18
547,128.49 554,496.83 529,182.37 619,068.53 397,643.42 11,907,431.71 2,801,568.12
537,315.06 544,551.25 519,690.83 607,964.77 390,511.19 11,830,849.17 2,778,906.52
527,440.47 534,543.67 510,140.13 596,791.80 383,334.51 11,753,822.44 2,756,097.43
517,504.32 524,473.70 500,529.89 585,549.18 376,113.09 11,676,348.96 2,733,139.89
507,506.24 514,340.97 490,859.75 574,236.49 368,846.66 11,598,426.14 2,710,032.93
497,445.83 504,145.08 481,129.33 562,853.27 361,534.93 11,520,051.36 2,686,775.59
487,322.72 493,885.64 471,338.26 551,399.11 354,177.63 11,441,222.01 2,663,366.88
477,136.50 483,562.24 461,486.16 539,873.54 346,774.46 11,361,935.44 2,639,805.82
466,886.79 473,174.50 451,572.65 528,276.13 339,325.16 11,282,189.02 2,616,091.42
456,573.19 462,722.00 441,597.34 516,606.43 331,829.41 11,201,980.06 2,592,222.67
446,195.31 452,204.35 431,559.86 504,863.99 324,286.95 11,121,305.90 2,568,198.58
435,752.73 441,621.14 421,459.80 493,048.36 316,697.46 11,040,163.82 2,544,018.14
425,245.06 430,971.96 411,296.79 481,159.07 309,060.68 10,958,551.12 2,519,680.31
<CAPTION>
49 50
-- --
KMART KMART
- ------------------------------------------
UKIAH WOODCREST
CA CA
- ------------------------------------------
7,525,857.47 3,046,791.84
- ------------------------------------------
7.710% 7.800%
- ------------------------------------------
5TH 5TH
- ------------------------------------------
<S> <C>
2,516,572.77 1,976,487.03
2,466,899.72 1,965,819.77
2,416,907.52 1,955,083.17
2,366,594.12 1,944,276.78
2,315,957.46 1,933,400.15
2,264,995.45 1,922,452.82
2,213,706.02 1,911,434.33
2,162,087.05 1,900,344.23
2,110,136.43 1,889,182.03
2,057,852.02 1,877,947.29
2,005,231.69 1,866,639.51
1,952,273.28 1,855,258.24
1,898,974.60 1,843,802.99
1,845,333.49 1,832,273.28
1,791,347.72 1,820,668.62
1,737,015.10 1,808,988.54
1,682,333.39 1,797,232.54
1,627,300.36 1,785,400.12
1,571,913.73 1,773,490.79
1,516,171.25 1,761,504.05
1,460,070.62 1,749,439.39
1,403,609.54 1,737,296.32
1,346,785.70 1,725,074.32
1,289,596.77 1,712,772.87
1,232,040.40 1,700,391.46
1,174,114.23 1,687,929.58
1,115,815.88 1,675,386.69
1,057,142.97 1,662,762.27
998,093.08 1,650,055.80
938,663.80 1,637,266.73
878,852.69 1,624,394.54
818,657.29 1,611,438.67
758,075.13 1,598,398.59
697,103.73 1,585,273.75
635,740.59 1,572,063.60
573,983.20 1,558,767.58
511,829.01 1,545,385.14
449,275.48 1,531,915.72
386,320.04 1,518,358.74
322,960.12 1,504,713.64
259,193.11 1,490,979.85
195,016.39 1,477,156.79
130,427.35 1,463,243.88
65,423.31 1,449,240.53
0.00 1,435,146.17
0.00 1,420,960.19
0.00 1,406,682.00
0.00 1,392,311.00
0.00 1,377,846.59
0.00 1,363,288.17
0.00 1,348,635.11
0.00 1,333,886.81
0.00 1,319,042.64
0.00 1,304,101.99
0.00 1,289,064.22
0.00 1,273,928.71
0.00 1,258,694.82
0.00 1,243,361.90
0.00 1,227,929.32
</TABLE>
Page 16
<PAGE>
BALANCE
<TABLE>
<CAPTION>
33 34 35 36 37 38 39
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE
ID IL IL LA MT OR OR
- ------------------------------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
493,138.03 395,909.55 400,969.14 196,116.11 234,216.51 414,671.90 414,671.90
480,485.79 385,751.85 390,681.63 191,084.44 228,207.31 404,032.83 404,032.83
467,754.67 375,530.84 380,330.00 186,021.40 222,160.66 393,327.44 393,327.44
454,944.20 365,246.12 369,913.84 180,926.80 216,076.31 382,555.32 382,555.32
442,053.88 354,897.29 359,432.76 175,800.45 209,954.03 371,716.05 371,716.05
429,083.21 344,483.95 348,886.35 170,642.14 203,793.60 360,809.22 360,809.22
416,031.69 334,005.71 338,274.19 165,451.68 197,594.76 349,834.41 349,834.41
402,898.81 323,462.15 327,595.89 160,228.87 191,357.28 338,791.18 338,791.18
389,684.08 312,852.86 316,851.02 154,973.50 185,080.93 327,679.12 327,679.12
376,386.97 302,177.45 306,039.18 149,685.37 178,765.45 316,497.79 316,497.79
363,006.97 291,435.49 295,159.94 144,364.28 172,410.60 305,246.77 305,246.77
349,543.58 280,626.58 284,212.89 139,010.02 166,016.15 293,925.61 293,925.61
335,996.26 269,750.29 273,197.61 133,622.38 159,581.83 282,533.89 282,533.89
322,364.50 258,806.20 262,113.66 128,201.17 153,107.41 271,071.16 271,071.16
308,647.76 247,793.90 250,960.62 122,746.16 146,592.63 259,536.98 259,536.98
294,845.53 236,712.95 239,738.06 117,257.15 140,037.24 247,930.90 247,930.90
280,957.26 225,562.93 228,445.55 111,733.92 133,440.99 236,252.47 236,252.47
266,982.42 214,343.41 217,082.65 106,176.26 126,803.62 224,501.25 224,501.25
252,920.47 203,053.95 205,648.91 100,583.96 120,124.88 212,676.78 212,676.78
238,770.86 191,694.12 194,143.91 94,956.81 113,404.51 200,778.61 200,778.61
224,533.06 180,263.49 182,567.20 89,294.58 106,642.24 188,806.27 188,806.27
210,206.51 168,761.60 170,918.32 83,597.05 99,837.83 176,759.30 176,759.30
195,790.66 157,188.02 159,196.83 77,864.01 92,991.00 164,637.24 164,637.24
181,284.95 145,542.29 147,402.28 72,095.23 86,101.50 152,439.62 152,439.62
166,688.82 133,823.98 135,534.20 66,290.49 79,169.05 140,165.97 140,165.97
152,001.70 122,032.62 123,592.15 60,449.57 72,193.38 127,815.81 127,815.81
137,223.04 110,167.75 111,575.66 54,572.25 65,174.24 115,388.67 115,388.67
122,352.26 98,228.94 99,484.27 48,658.28 58,111.34 102,884.06 102,884.06
107,388.78 86,215.70 87,317.51 42,707.46 51,004.42 90,301.51 90,301.51
92,332.03 74,127.58 75,074.91 36,719.54 43,853.20 77,640.53 77,640.53
77,181.43 61,964.11 62,756.00 30,694.29 36,657.40 64,900.63 64,900.63
61,936.38 49,724.83 50,360.30 24,631.49 29,416.75 52,081.32 52,081.32
46,596.31 37,409.25 37,887.33 18,530.90 22,130.96 39,182.10 39,182.10
31,160.62 25,016.90 25,336.61 12,392.27 14,799.76 26,202.47 26,202.47
15,628.72 12,547.31 12,707.66 6,215.39 7,422.86 13,141.94 13,141.94
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
40 41 42 43 44 45 48
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT KMART
- ------------------------------------------------------------------------------------------------------------------------------------
HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT
OR OR WA WA WA IL CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 6.960% 7.810%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
414,671.90 420,256.40 401,070.43 469,195.68 301,376.28 10,876,465.07 2,495,184.09
404,032.83 409,474.05 390,780.33 457,157.71 293,643.99 10,793,902.92 2,470,528.44
393,327.44 398,624.49 380,426.08 445,044.71 285,863.50 10,710,861.90 2,445,712.33
382,555.32 387,707.30 370,007.29 432,856.20 278,034.52 10,627,339.25 2,420,734.70
371,716.05 376,722.06 359,523.56 420,591.72 270,156.73 10,543,332.17 2,395,594.51
360,809.22 365,668.34 348,974.48 408,250.79 262,229.83 10,458,837.85 2,370,290.69
349,834.41 354,545.73 338,359.65 395,832.93 254,253.53 10,373,853.46 2,344,822.19
338,791.18 343,353.78 327,678.65 383,337.67 246,227.51 10,288,376.16 2,319,187.94
327,679.12 332,092.07 316,931.07 370,764.52 238,151.46 10,202,403.09 2,293,386.85
316,497.79 320,760.16 306,116.49 358,113.00 230,025.06 10,115,931.38 2,267,417.83
305,246.77 309,357.61 295,234.51 345,382.62 221,848.02 10,028,958.13 2,241,279.80
293,925.61 297,883.99 284,284.69 332,572.88 213,620.00 9,941,480.44 2,214,971.66
282,533.89 286,338.85 273,266.63 319,683.30 205,340.69 9,853,495.37 2,188,492.29
271,071.16 274,721.75 262,179.88 306,713.37 197,009.78 0.00 2,161,840.59
259,536.98 263,032.23 251,024.02 293,662.60 188,626.94 0.00 2,135,015.43
247,930.90 251,269.85 239,798.63 280,530.47 180,191.84 0.00 2,108,015.68
236,252.47 239,434.15 228,503.26 267,316.49 171,704.17 0.00 2,080,840.21
224,501.25 227,524.67 217,137.49 254,020.15 163,163.59 0.00 2,053,487.87
212,676.78 215,540.96 205,700.87 240,640.92 154,569.77 0.00 2,025,957.52
200,778.61 203,482.54 194,192.96 227,178.29 145,922.39 0.00 1,998,247.98
188,806.27 191,348.97 182,613.32 213,631.75 137,221.10 0.00 1,970,358.11
176,759.30 179,139.76 170,961.50 200,000.77 128,465.57 0.00 1,942,286.72
164,637.24 166,854.45 159,237.05 186,284.82 119,655.47 0.00 1,914,032.62
152,439.62 154,492.56 147,439.52 172,483.38 110,790.45 0.00 1,885,594.65
140,165.97 142,053.61 135,568.45 158,595.90 101,870.18 0.00 1,856,971.59
127,815.81 129,537.13 123,623.38 144,621.86 92,894.30 0.00 1,828,162.24
115,388.67 116,942.63 111,603.86 130,560.72 83,862.47 0.00 1,799,165.38
102,884.06 104,269.62 99,509.41 116,411.93 74,774.34 0.00 1,769,979.81
90,301.51 91,517.62 87,339.58 102,174.94 65,629.57 0.00 1,740,604.29
77,640.53 78,686.13 75,093.88 87,849.21 56,427.79 0.00 1,711,037.58
64,900.63 65,774.65 62,771.86 73,434.19 47,168.65 0.00 1,681,278.45
52,081.32 52,782.70 50,373.03 58,929.31 37,851.80 0.00 1,651,325.63
39,182.10 39,709.76 37,896.91 44,334.01 28,476.87 0.00 1,621,177.87
26,202.47 26,555.33 25,343.02 29,647.74 19,043.51 0.00 1,590,833.89
13,141.94 13,318.91 12,710.89 14,869.93 9,551.34 0.00 1,560,292.43
0.00 0.00 0.00 0.00 0.00 0.00 1,529,552.19
0.00 0.00 0.00 0.00 0.00 0.00 1,498,611.89
0.00 0.00 0.00 0.00 0.00 0.00 1,467,470.21
0.00 0.00 0.00 0.00 0.00 0.00 1,436,125.86
0.00 0.00 0.00 0.00 0.00 0.00 1,404,577.50
0.00 0.00 0.00 0.00 0.00 0.00 1,372,823.82
0.00 0.00 0.00 0.00 0.00 0.00 1,340,863.48
0.00 0.00 0.00 0.00 0.00 0.00 1,308,695.12
0.00 0.00 0.00 0.00 0.00 0.00 1,276,317.41
0.00 0.00 0.00 0.00 0.00 0.00 1,243,728.97
0.00 0.00 0.00 0.00 0.00 0.00 1,210,928.43
0.00 0.00 0.00 0.00 0.00 0.00 1,177,914.42
0.00 0.00 0.00 0.00 0.00 0.00 1,144,685.54
0.00 0.00 0.00 0.00 0.00 0.00 1,111,240.39
0.00 0.00 0.00 0.00 0.00 0.00 1,077,577.57
0.00 0.00 0.00 0.00 0.00 0.00 1,043,695.67
0.00 0.00 0.00 0.00 0.00 0.00 1,009,593.25
0.00 0.00 0.00 0.00 0.00 0.00 975,268.88
0.00 0.00 0.00 0.00 0.00 0.00 940,721.11
0.00 0.00 0.00 0.00 0.00 0.00 905,948.50
0.00 0.00 0.00 0.00 0.00 0.00 870,949.57
0.00 0.00 0.00 0.00 0.00 0.00 835,722.86
0.00 0.00 0.00 0.00 0.00 0.00 800,266.89
0.00 0.00 0.00 0.00 0.00 0.00 764,580.15
<CAPTION>
49 50
-- --
KMART KMART
- ----------------------------------------
UKIAH WOODCREST
CA CA
- ----------------------------------------
7,525,857.47 3,046,791.84
- ----------------------------------------
7.710% 7.800%
- ----------------------------------------
5TH 5TH
- ----------------------------------------
<S> <C>
0.00 1,212,396.43
0.00 1,196,762.58
0.00 1,181,027.11
0.00 1,165,189.35
0.00 1,149,248.65
0.00 1,133,204.34
0.00 1,117,055.74
0.00 1,100,802.17
0.00 1,084,442.96
0.00 1,067,977.40
0.00 1,051,404.83
0.00 1,034,724.53
0.00 1,017,935.81
0.00 1,001,037.96
0.00 984,030.28
0.00 966,912.05
0.00 949,682.54
0.00 932,341.05
0.00 914,886.84
0.00 897,319.17
0.00 879,637.32
0.00 861,840.53
0.00 843,928.06
0.00 825,899.16
0.00 807,753.08
0.00 789,489.04
0.00 771,106.29
0.00 752,604.05
0.00 733,981.55
0.00 715,238.00
0.00 696,372.62
0.00 677,384.61
0.00 658,273.18
0.00 639,037.52
0.00 619,676.84
0.00 600,190.31
0.00 580,577.12
0.00 560,836.44
0.00 540,967.44
0.00 520,969.30
0.00 500,841.17
0.00 480,582.21
0.00 460,191.56
0.00 439,668.38
0.00 419,011.79
0.00 398,220.94
0.00 377,294.95
0.00 356,232.93
0.00 335,034.02
0.00 313,697.31
0.00 292,221.91
0.00 270,606.92
0.00 248,851.44
0.00 226,954.54
0.00 204,915.32
0.00 182,732.84
0.00 160,406.17
0.00 137,934.38
0.00 115,316.52
</TABLE>
Page 17
<PAGE>
BALANCE
<TABLE>
<CAPTION>
33 34 35 36 37 38 39
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE
ID IL IL LA MT OR OR
- ------------------------------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
40 41 42 43 44 45 48
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT KMART
- ------------------------------------------------------------------------------------------------------------------------------------
HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT
OR OR WA WA WA IL CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 6.960% 7.810%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 728,661.15
0.00 0.00 0.00 0.00 0.00 0.00 692,508.38
0.00 0.00 0.00 0.00 0.00 0.00 656,120.32
0.00 0.00 0.00 0.00 0.00 0.00 619,495.43
0.00 0.00 0.00 0.00 0.00 0.00 582,632.17
0.00 0.00 0.00 0.00 0.00 0.00 545,528.99
0.00 0.00 0.00 0.00 0.00 0.00 508,184.34
0.00 0.00 0.00 0.00 0.00 0.00 470,596.63
0.00 0.00 0.00 0.00 0.00 0.00 432,764.29
0.00 0.00 0.00 0.00 0.00 0.00 394,685.73
0.00 0.00 0.00 0.00 0.00 0.00 356,359.33
0.00 0.00 0.00 0.00 0.00 0.00 317,783.50
0.00 0.00 0.00 0.00 0.00 0.00 278,956.60
0.00 0.00 0.00 0.00 0.00 0.00 239,877.00
0.00 0.00 0.00 0.00 0.00 0.00 200,543.06
0.00 0.00 0.00 0.00 0.00 0.00 160,953.12
0.00 0.00 0.00 0.00 0.00 0.00 121,105.52
0.00 0.00 0.00 0.00 0.00 0.00 80,998.57
0.00 0.00 0.00 0.00 0.00 0.00 40,630.60
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
49 50
-- --
KMART KMART
- ------------------------------------------
UKIAH WOODCREST
CA CA
- ------------------------------------------
7,525,857.47 3,046,791.84
- ------------------------------------------
7.710% 7.800%
- ------------------------------------------
5TH 5TH
- ------------------------------------------
<S> <C>
0.00 92,551.65
0.00 69,638.81
0.00 46,577.03
0.00 23,365.35
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
</TABLE>
Page 18
<PAGE>
BALANCE
<TABLE>
<CAPTION>
51 52 53 54 55 56
-- -- -- -- -- --
TIMES MONROE NINE NORTHWESTERN NORTHWESTERN
KMART MIRROR COUNTY, NY WEST HUMAN SERV. HUMAN SERV.
- -------------------------------------------------------------------------------------------------------------------------------
STERLING HEIGHTS LAGUNA HILLS ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS)
MI CA NY NY NJ PA
- -------------------------------------------------------------------------------------------------------------------------------
6,816,611.39 3,578,054.58 15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83
- -------------------------------------------------------------------------------------------------------------------------------
7.790% 6.630% 6.640% 9.000% 7.400% 7.460%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 5TH 5TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
6,807,903.83 3,569,678.31 15,884,013.95 45,812,001.67 3,918,073.64 15,978,456.76
6,799,139.74 3,561,255.76 15,884,013.95 45,734,840.69 3,911,000.31 15,948,525.77
6,790,318.76 3,552,786.68 15,884,013.95 45,657,101.01 3,903,883.36 15,918,408.71
6,781,440.52 3,544,270.81 15,884,013.95 45,578,778.28 3,896,722.53 15,888,104.42
6,772,504.64 3,535,707.88 15,884,013.95 45,499,868.12 3,889,517.54 15,857,611.74
6,763,510.75 3,527,097.65 15,884,013.95 45,420,366.15 3,882,268.12 15,826,929.50
6,754,458.48 3,518,439.85 15,851,828.93 45,340,267.90 3,874,973.99 15,796,056.51
6,745,347.44 3,509,734.21 15,819,465.83 45,259,568.92 3,867,634.89 15,764,991.60
6,736,177.26 3,498,818.86 15,786,923.64 45,178,264.70 3,860,250.52 15,733,733.57
6,726,947.54 3,487,843.20 15,754,201.40 45,096,350.69 3,852,820.62 15,702,281.21
6,717,657.92 3,476,806.91 15,721,298.08 45,013,822.33 3,845,344.90 15,670,633.33
6,708,307.98 3,465,709.63 15,688,212.71 44,930,675.01 3,837,823.08 15,638,788.71
6,698,897.35 3,454,551.05 15,654,944.26 44,846,904.08 3,830,254.88 15,606,746.11
6,689,425.63 3,443,330.81 15,621,491.72 44,762,504.87 3,822,640.00 15,574,504.32
6,679,892.42 3,432,048.59 15,587,854.08 44,677,472.67 3,814,978.17 15,542,062.09
6,670,297.33 3,420,704.02 15,554,030.31 44,591,802.73 3,807,269.09 15,509,418.18
6,660,639.94 3,409,296.78 15,520,019.39 44,505,490.26 3,799,512.47 15,476,571.33
6,650,919.87 3,397,826.52 15,485,820.27 44,418,530.44 3,791,708.01 15,443,520.29
6,641,136.69 3,386,292.88 15,451,466.51 44,330,918.43 3,783,855.43 15,410,263.78
6,631,290.01 3,374,695.52 15,416,922.65 44,242,649.33 3,775,954.43 15,376,800.52
6,621,379.40 3,363,034.08 15,382,187.65 44,153,718.21 3,768,004.70 15,343,129.23
6,611,404.46 3,351,308.21 15,347,260.45 44,064,120.11 3,760,005.95 15,309,248.62
6,601,364.76 3,339,517.56 15,312,139.99 43,973,850.02 3,751,957.87 15,275,157.39
6,591,259.89 3,327,661.77 15,276,825.20 43,882,902.90 3,743,860.16 15,240,854.22
6,581,089.43 3,315,740.47 15,241,314.99 43,791,273.68 3,735,712.52 15,206,337.80
6,570,852.93 3,303,753.30 15,205,608.30 43,698,957.25 3,727,514.64 15,171,606.80
6,560,549.99 3,291,699.91 15,169,704.03 43,605,948.44 3,719,266.20 15,136,659.90
6,550,180.17 3,279,579.92 15,133,601.09 43,512,242.06 3,710,966.89 15,101,495.74
6,539,743.02 3,267,392.97 15,097,298.38 43,417,832.88 3,702,616.41 15,066,112.97
6,529,238.12 3,255,138.69 15,060,794.79 43,322,715.64 3,694,214.43 15,030,510.24
6,518,665.03 3,242,816.70 15,024,125.53 43,226,885.02 3,685,760.64 14,994,686.19
6,508,023.30 3,230,426.63 14,987,253.36 43,130,335.67 3,677,254.71 14,958,639.42
6,497,312.49 3,217,968.11 14,950,177.17 43,033,062.19 3,668,696.34 14,922,368.57
6,486,532.15 3,205,440.75 14,912,895.83 42,935,059.17 3,660,085.19 14,885,872.23
6,475,681.82 3,192,844.18 14,875,408.19 42,836,321.12 3,651,420.93 14,849,149.00
6,464,761.06 3,180,178.02 14,837,713.12 42,736,842.54 3,642,703.25 14,812,197.48
6,453,769.40 3,167,441.87 14,799,809.47 42,636,617.87 3,633,931.80 14,775,016.25
6,442,706.39 3,154,635.36 14,761,696.09 42,535,641.51 3,625,106.27 14,737,603.87
6,431,571.56 3,139,430.42 14,723,371.82 42,433,907.84 3,616,226.31 14,699,958.91
6,420,364.45 3,124,141.47 14,684,835.48 42,331,411.15 3,607,291.59 14,662,079.92
6,409,084.59 3,108,768.05 14,646,085.91 42,228,145.75 3,598,301.78 14,623,965.46
6,397,731.50 3,093,309.70 14,607,121.93 42,124,105.85 3,589,256.53 14,585,614.05
6,386,304.71 3,077,765.93 14,567,980.47 42,019,285.66 3,580,155.50 14,547,024.22
6,374,803.74 3,062,136.29 14,528,622.43 41,913,679.31 3,570,998.34 14,508,194.49
<CAPTION>
57 58 59 60 61 62 64
-- -- -- -- -- -- --
NORTHWESTERN OFFICE PRICE PRICE
HUMAN SERV. DEPOT CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHUMBERLAND BROOKLYN WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE
PA OH NY VT FL FL TX
- ------------------------------------------------------------------------------------------------------------------------------------
14,135,554.35 4,488,420.74 5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03
- ------------------------------------------------------------------------------------------------------------------------------------
7.140% 8.817715% 7.571% 7.950% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
14,135,554.35 4,486,684.06 5,540,527.57 6,064,176.10 8,464,320.15 8,205,849.84 6,537,676.15
14,135,554.35 4,484,934.63 5,536,362.77 6,060,395.02 8,452,245.17 8,194,143.59 6,528,349.67
14,135,554.35 4,483,172.34 5,532,171.68 6,056,588.89 8,440,082.05 8,182,351.89 6,518,955.11
14,135,554.35 4,481,397.10 5,527,954.15 6,052,757.54 8,427,830.14 8,170,474.11 6,509,491.98
14,135,554.35 4,479,608.81 5,523,710.02 6,048,900.81 8,415,488.79 8,158,509.62 6,499,959.76
14,135,554.35 4,477,807.39 5,519,439.11 6,045,018.52 8,403,057.35 8,146,457.79 6,490,357.95
14,135,554.35 4,475,992.72 5,515,141.25 6,041,110.52 8,390,535.16 8,134,317.98 6,480,686.06
14,135,554.35 4,474,164.72 5,510,816.27 6,037,176.63 8,377,921.55 8,122,089.56 6,470,943.56
14,135,554.35 4,472,323.30 5,506,464.01 6,033,216.67 8,365,215.87 8,109,771.86 6,461,129.93
14,135,554.35 4,470,468.33 5,502,084.29 6,029,230.48 8,352,417.44 8,097,364.24 6,451,244.67
14,135,554.35 4,468,599.74 5,497,676.94 6,025,217.89 8,339,525.58 8,084,866.05 6,441,287.25
14,135,554.35 4,466,717.42 5,493,241.78 6,021,178.70 8,326,539.60 8,072,276.62 6,431,257.13
14,135,554.35 4,464,874.61 5,488,778.63 6,017,112.76 8,313,458.83 8,059,595.29 6,421,153.80
14,135,554.35 4,463,018.25 5,484,287.33 6,013,019.88 8,300,282.57 8,046,821.39 6,410,976.71
14,135,554.35 4,461,148.26 5,479,767.70 6,008,899.89 8,287,010.12 8,033,954.24 6,400,725.33
14,110,619.38 4,459,264.52 5,475,219.54 6,004,752.60 8,273,640.79 8,020,993.15 6,390,399.12
14,085,536.04 4,457,366.95 5,470,642.70 6,000,577.84 8,260,173.86 8,007,937.45 6,379,997.52
14,060,303.46 4,455,455.42 5,466,036.97 5,996,375.42 8,246,608.61 7,994,786.45 6,369,520.00
14,034,920.75 4,453,529.86 5,461,402.19 5,992,145.15 8,232,944.35 7,981,539.44 6,358,965.98
14,009,387.01 4,451,590.14 5,456,738.17 5,987,886.87 8,219,180.33 7,968,195.72 6,348,334.92
13,983,701.34 4,449,636.17 5,452,044.72 5,983,600.37 8,205,315.84 7,954,754.60 6,337,626.26
13,957,862.84 4,447,667.84 5,447,321.66 5,979,285.47 8,191,350.13 7,941,215.36 6,326,839.42
13,931,870.61 4,445,685.05 5,442,568.80 5,974,941.99 8,177,282.48 7,927,577.28 6,315,973.84
13,905,723.72 4,443,687.69 5,437,785.95 5,970,569.73 8,163,112.13 7,913,839.65 6,305,028.94
13,879,421.25 4,441,731.66 5,432,972.93 5,966,168.50 8,148,838.34 7,900,001.73 6,294,004.14
13,852,962.29 4,439,761.26 5,428,129.54 5,961,738.12 8,134,460.35 7,886,062.79 6,282,898.86
13,826,345.90 4,437,776.38 5,423,255.59 5,957,278.38 8,119,977.40 7,872,022.10 6,271,712.51
13,799,571.13 4,435,776.92 5,418,350.90 5,952,789.10 8,105,388.72 7,857,878.91 6,260,444.50
13,772,637.06 4,433,762.76 5,413,415.26 5,948,270.08 8,090,693.55 7,843,632.48 6,249,094.24
13,745,542.73 4,431,733.80 5,408,448.48 5,943,721.12 8,075,891.11 7,829,282.04 6,237,661.11
13,718,287.19 4,429,689.94 5,403,450.36 5,939,142.02 8,060,980.60 7,814,826.85 6,226,144.53
13,690,869.48 4,427,631.05 5,398,420.71 5,934,532.59 8,045,961.25 7,800,266.14 6,214,543.87
13,663,288.63 4,425,557.04 5,393,359.32 5,929,892.62 8,030,832.26 7,785,599.13 6,202,858.53
13,635,543.68 4,423,467.79 5,388,266.01 5,925,221.90 8,015,592.82 7,770,825.05 6,191,087.89
13,607,633.65 4,421,363.18 5,383,140.55 5,920,520.25 8,000,242.14 7,755,943.13 6,179,231.32
13,579,557.55 4,419,243.11 5,377,982.77 5,915,787.45 7,984,779.40 7,740,952.56 6,167,288.20
13,551,314.39 4,417,166.27 5,372,792.44 5,911,023.29 7,969,203.78 7,725,852.57 6,155,257.90
13,522,903.19 4,415,074.17 5,367,569.36 5,906,227.57 7,953,514.45 7,710,642.34 6,143,139.77
13,494,322.95 4,412,966.70 5,362,313.33 5,901,400.07 7,937,710.60 7,695,321.08 6,130,933.18
13,465,572.65 4,410,843.74 5,357,024.14 5,896,540.60 7,921,791.38 7,679,887.97 6,118,637.48
13,436,651.29 4,408,705.18 5,351,701.57 5,891,648.93 7,905,755.94 7,664,342.20 6,106,252.03
13,407,557.84 4,406,550.91 5,346,345.43 5,886,724.86 7,889,603.45 7,648,682.95 6,093,776.15
13,378,291.29 4,404,380.81 5,338,991.96 5,881,768.16 7,873,333.05 7,632,909.39 6,081,209.21
13,348,850.60 4,402,194.76 5,331,592.09 5,876,778.62 7,856,943.87 7,617,020.68 6,068,550.53
<CAPTION>
65 66 67
-- -- --
Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------
RICHARDSON PLANO WILLOW BROOK
TX TX TX
- ------------------------------------------------------------
7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------
8.760% 8.760% 8.760%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
7,007,189.20 7,577,625.01 5,833,632.33
6,997,192.93 7,566,814.98 5,825,310.22
6,987,123.68 7,555,926.03 5,816,927.37
6,976,980.94 7,544,957.59 5,808,483.32
6,966,764.15 7,533,909.08 5,799,977.63
6,956,472.78 7,522,779.91 5,791,409.84
6,946,106.28 7,511,569.51 5,782,779.51
6,935,664.10 7,500,277.26 5,774,086.18
6,925,145.70 7,488,902.59 5,765,329.39
6,914,550.52 7,477,444.88 5,756,508.68
6,903,877.98 7,465,903.52 5,747,623.57
6,893,127.54 7,454,277.92 5,738,673.60
6,882,298.62 7,442,567.45 5,729,658.30
6,871,390.65 7,430,771.49 5,720,577.19
6,860,403.06 7,418,889.42 5,711,429.78
6,849,335.25 7,406,920.62 5,702,215.60
6,838,186.65 7,394,864.44 5,692,934.15
6,826,956.66 7,382,720.25 5,683,584.95
6,815,644.69 7,370,487.40 5,674,167.50
6,804,250.15 7,358,165.26 5,664,681.30
6,792,772.42 7,345,753.17 5,655,125.86
6,781,210.91 7,333,250.47 5,645,500.66
6,769,565.00 7,320,656.50 5,635,805.19
6,757,834.08 7,307,970.59 5,626,038.95
6,746,017.52 7,295,192.07 5,616,201.41
6,734,114.69 7,282,320.27 5,606,292.06
6,722,124.98 7,269,354.51 5,596,310.38
6,710,047.74 7,256,294.10 5,586,255.82
6,697,882.34 7,243,138.35 5,576,127.87
6,685,628.13 7,229,886.56 5,565,925.98
6,673,284.47 7,216,538.03 5,555,649.62
6,660,850.69 7,203,092.06 5,545,298.24
6,648,326.15 7,189,547.93 5,534,871.30
6,635,710.19 7,175,904.93 5,524,368.24
6,623,002.12 7,162,162.34 5,513,788.51
6,610,201.29 7,148,319.42 5,503,131.55
6,597,307.01 7,134,375.45 5,492,396.79
6,584,318.60 7,120,329.69 5,481,583.66
6,571,235.37 7,106,181.40 5,470,691.60
6,558,056.64 7,091,929.82 5,459,720.03
6,544,781.70 7,077,574.21 5,448,668.37
6,531,409.86 7,063,113.80 5,437,536.03
6,517,940.40 7,048,547.83 5,426,322.42
6,504,372.62 7,033,875.53 5,415,026.95
</TABLE>
Page 19
<PAGE>
BALANCE
<TABLE>
<CAPTION>
51 52 53 54 55 56
-- -- -- -- -- --
TIMES MONROE NINE NORTHWESTERN NORTHWESTERN
KMART MIRROR COUNTY, NY WEST HUMAN SERV. HUMAN SERV.
- -------------------------------------------------------------------------------------------------------------------------------
STERLING HEIGHTS LAGUNA HILLS ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS)
MI CA NY NY NJ PA
- -------------------------------------------------------------------------------------------------------------------------------
6,816,611.39 3,578,054.58 15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83
- -------------------------------------------------------------------------------------------------------------------------------
7.790% 6.630% 6.640% 9.000% 7.400% 7.460%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 5TH 5TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
6,363,228.11 3,046,420.29 14,489,046.61 41,807,280.91 3,561,784.72 14,469,123.37
6,351,577.34 3,030,617.46 14,449,251.81 41,700,084.53 3,552,514.28 14,429,809.35
6,339,850.93 3,014,727.33 14,409,236.81 41,592,084.17 3,543,186.67 14,390,250.94
6,328,048.40 2,998,749.39 14,369,000.39 41,483,273.81 3,533,801.54 14,350,446.60
6,316,169.25 2,982,683.18 14,328,541.32 41,373,647.38 3,524,358.54 14,310,394.81
6,304,212.99 2,966,528.21 14,287,858.39 41,263,198.74 3,514,857.30 14,270,094.04
6,292,179.11 2,950,283.98 14,246,950.34 41,151,921.74 3,505,297.47 14,229,542.73
6,280,067.11 2,933,950.00 14,205,815.94 41,039,810.17 3,495,678.69 14,188,739.32
6,267,876.48 2,917,525.77 14,164,453.92 40,926,857.75 3,486,000.60 14,147,682.25
6,255,606.71 2,901,010.80 14,122,863.04 40,813,058.20 3,476,262.82 14,106,369.95
6,243,257.30 2,884,404.58 14,081,082.06 40,698,405.14 3,466,465.00 14,064,800.82
6,230,827.71 2,867,706.62 14,039,069.89 40,582,892.19 3,456,606.75 14,022,973.27
6,218,317.44 2,850,916.40 13,996,825.25 40,466,512.89 3,446,687.71 13,980,885.69
6,205,725.95 2,834,033.41 13,954,346.86 40,349,260.75 3,436,707.51 13,938,536.46
6,193,052.73 2,817,057.15 13,911,633.42 40,231,129.22 3,426,665.76 13,895,923.97
6,180,297.23 2,799,987.09 13,868,683.64 40,112,111.69 3,416,562.08 13,853,046.56
6,167,458.93 2,782,822.72 13,825,496.20 39,992,201.54 3,406,396.10 13,809,902.61
6,154,537.29 2,765,563.51 13,782,069.79 39,871,392.06 3,396,167.43 13,766,490.44
6,141,531.76 2,748,208.95 13,738,403.08 39,749,676.51 3,385,875.68 13,722,808.39
6,128,441.81 2,730,758.50 13,694,494.76 39,627,048.10 3,375,520.47 13,678,854.79
6,115,266.88 2,713,211.65 13,650,343.47 39,503,499.97 3,365,101.40 13,634,627.94
6,102,006.42 2,695,567.84 13,605,947.88 39,379,025.23 3,354,618.08 13,590,126.14
6,088,659.89 2,677,826.55 13,561,348.68 39,253,616.93 3,344,070.11 13,545,347.70
6,075,226.71 2,659,987.24 13,516,502.69 39,127,268.07 3,333,457.10 13,500,290.88
6,061,706.32 2,639,542.91 13,471,408.55 38,999,971.59 3,322,778.63 13,454,953.96
6,048,098.17 2,618,985.63 13,426,064.90 38,871,720.38 3,312,034.32 13,409,335.19
6,034,401.68 2,598,314.76 13,380,470.34 38,742,507.30 3,301,223.75 13,363,432.83
6,020,616.27 2,577,529.69 13,334,623.49 38,612,325.11 3,290,346.52 13,317,245.11
6,006,741.38 2,556,629.78 13,288,522.96 38,481,166.56 3,279,402.21 13,270,770.25
5,992,776.41 2,535,614.40 13,242,167.34 38,349,024.32 3,268,390.41 13,224,006.48
5,978,720.78 2,514,482.91 13,195,555.21 38,215,891.01 3,257,310.71 13,176,951.99
5,964,573.92 2,493,234.67 13,148,685.17 38,081,759.20 3,246,162.67 13,129,604.97
5,950,335.21 2,471,869.03 13,101,555.78 37,946,621.41 3,234,945.90 13,081,963.62
5,936,004.08 2,450,385.35 13,054,165.60 37,810,470.08 3,223,659.95 13,034,026.10
5,921,579.91 2,428,782.97 13,006,557.34 37,673,297.61 3,212,304.41 12,985,790.56
5,907,062.10 2,407,061.23 12,958,685.65 37,535,096.35 3,200,878.84 12,937,255.17
5,892,450.05 2,385,219.49 12,910,549.07 37,395,858.59 3,189,382.81 12,888,418.04
5,877,743.14 2,363,257.06 12,862,146.13 37,255,576.54 3,177,815.89 12,839,277.31
5,862,940.76 2,341,173.30 12,813,475.36 37,114,242.37 3,166,177.64 12,789,831.08
5,848,042.28 2,318,967.52 12,764,535.28 36,971,848.20 3,154,467.62 12,740,077.47
5,833,047.10 2,296,639.06 12,715,324.40 36,828,386.07 3,142,685.40 12,690,014.56
5,817,954.56 2,274,187.23 12,665,841.22 36,683,847.98 3,130,830.51 12,639,640.42
5,802,764.05 2,251,611.35 12,616,084.23 36,538,225.85 3,118,902.52 12,588,953.12
5,787,474.93 2,228,910.75 12,566,051.92 36,391,511.55 3,106,900.97 12,537,950.71
5,772,086.56 2,206,084.72 12,515,742.76 36,243,696.90 3,094,825.41 12,486,631.24
5,756,598.29 2,183,132.58 12,465,155.23 36,094,773.63 3,082,675.39 12,434,992.74
5,741,009.48 2,160,053.62 12,414,334.13 35,944,733.44 3,070,450.44 12,383,033.21
5,725,319.47 2,136,847.16 12,363,231.81 35,793,567.96 3,058,150.10 12,330,750.67
5,709,527.61 2,113,512.48 12,311,846.74 35,641,268.73 3,045,773.92 12,278,143.11
5,693,633.23 2,090,048.88 12,260,177.33 35,487,827.25 3,033,321.41 12,225,208.50
5,677,635.67 2,066,455.64 12,208,222.02 35,333,234.97 3,020,792.11 12,171,944.82
5,661,534.25 2,042,732.04 12,155,979.22 35,177,483.24 3,008,185.55 12,118,350.01
5,645,328.32 2,018,877.38 12,103,447.34 35,020,563.37 2,995,501.25 12,064,422.02
5,629,017.18 1,994,890.92 12,050,624.79 34,862,466.61 2,982,738.72 12,010,158.78
5,612,600.15 1,968,072.95 11,997,509.96 34,703,184.12 2,969,897.50 11,955,558.21
5,596,076.55 1,941,106.81 11,944,101.22 34,542,707.01 2,956,977.09 11,900,618.20
5,579,445.68 1,913,991.69 11,890,396.95 34,381,026.32 2,943,977.00 11,845,336.64
5,562,706.86 1,886,726.75 11,836,395.52 34,218,133.03 2,930,896.74 11,789,711.42
5,545,859.36 1,859,311.18 11,782,143.95 34,054,018.04 2,917,735.83 11,733,740.40
<CAPTION>
57 58 59 60 61 62 64
-- -- -- -- -- -- --
NORTHWESTERN OFFICE PRICE PRICE
HUMAN SERV. DEPOT CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHUMBERLAND BROOKLYN WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE
PA OH NY VT FL FL TX
- ------------------------------------------------------------------------------------------------------------------------------------
14,135,554.35 4,488,420.74 5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03
- ------------------------------------------------------------------------------------------------------------------------------------
7.140% 8.817715% 7.571% 7.950% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,319,234.75 4,399,992.65 5,324,145.53 5,871,756.03 7,840,435.05 7,601,015.98 6,055,799.44
13,289,442.67 4,397,774.35 5,316,651.99 5,866,700.16 7,823,805.71 7,584,894.44 6,042,955.26
13,259,473.34 4,395,539.76 5,309,111.17 5,861,610.80 7,807,054.99 7,568,655.22 6,030,017.33
13,229,325.68 4,393,288.75 5,301,522.78 5,856,487.72 7,790,181.98 7,552,297.46 6,016,984.94
13,198,998.65 4,391,084.94 5,293,886.51 5,851,330.70 7,773,185.80 7,535,820.28 6,003,857.42
13,168,491.17 4,383,466.01 5,286,202.06 5,846,139.52 7,756,065.54 7,519,222.82 5,990,634.07
13,137,802.17 4,375,791.08 5,278,469.13 5,840,913.95 7,738,820.31 7,502,504.19 5,977,314.19
13,106,930.58 4,368,059.76 5,270,687.42 5,835,653.75 7,721,449.19 7,485,663.52 5,963,897.07
13,075,875.29 4,360,271.64 5,262,856.60 5,830,358.71 7,703,951.26 7,468,699.92 5,950,382.01
13,044,635.23 4,352,426.28 5,254,976.38 5,825,028.58 7,686,325.59 7,451,612.48 5,936,768.29
13,013,209.29 4,344,523.27 5,247,046.44 5,819,663.15 7,668,571.26 7,434,400.30 5,923,055.19
12,981,596.37 4,336,562.20 5,239,066.47 5,812,020.40 7,650,687.32 7,417,062.47 5,909,241.98
12,949,795.35 4,328,542.62 5,231,036.16 5,804,327.01 7,632,672.83 7,399,598.08 5,895,327.94
12,917,805.11 4,320,464.12 5,222,955.18 5,796,582.66 7,614,526.83 7,382,006.19 5,881,312.32
12,885,624.53 4,312,326.25 5,214,823.21 5,788,787.00 7,596,248.36 7,364,285.89 5,867,194.39
12,853,252.47 4,304,128.58 5,206,639.94 5,780,939.69 7,577,836.47 7,346,436.22 5,852,973.40
12,820,687.81 4,295,935.52 5,198,405.04 5,773,040.40 7,559,290.16 7,328,456.26 5,838,648.60
12,787,929.38 4,287,682.26 5,190,118.18 5,765,088.77 7,540,608.47 7,310,345.04 5,824,219.22
12,754,976.04 4,279,368.35 5,181,779.04 5,757,084.46 7,521,790.40 7,292,101.61 5,809,684.51
12,721,826.63 4,270,993.35 5,173,387.29 5,749,027.13 7,502,834.96 7,273,725.00 5,795,043.70
12,688,479.97 4,262,556.80 5,164,942.59 5,740,916.41 7,483,741.15 7,255,214.24 5,780,296.01
12,654,934.91 4,254,058.27 5,156,444.62 5,732,751.96 7,464,507.95 7,236,568.36 5,765,440.66
12,621,190.25 4,245,497.29 5,147,893.03 5,724,533.42 7,445,134.35 7,217,786.36 5,750,476.87
12,587,244.82 4,236,873.40 5,139,287.48 5,716,260.44 7,425,619.32 7,198,867.25 5,735,403.84
12,553,097.40 4,228,186.14 5,130,627.64 5,707,932.64 7,405,961.83 7,179,810.03 5,720,220.78
12,518,746.81 4,219,435.04 5,121,913.17 5,699,549.68 7,386,160.84 7,160,613.69 5,704,926.88
12,484,191.83 4,210,619.65 5,113,143.71 5,691,111.17 7,366,215.30 7,141,277.22 5,689,521.33
12,449,431.26 4,201,739.47 5,104,318.93 5,682,616.77 7,346,124.17 7,121,799.59 5,674,003.33
12,414,463.85 4,192,862.12 5,095,438.47 5,674,066.08 7,325,886.36 7,102,179.78 5,658,372.04
12,379,288.39 4,183,919.55 5,086,501.98 5,665,458.75 7,305,500.82 7,082,416.74 5,642,626.65
12,343,903.64 4,174,911.26 5,077,509.10 5,656,794.39 7,284,966.47 7,062,509.43 5,626,766.31
12,308,308.34 4,165,836.78 5,068,459.50 5,648,072.64 7,264,282.21 7,042,456.80 5,610,790.20
12,272,501.26 4,156,695.61 5,059,352.79 5,639,293.10 7,243,446.96 7,022,257.79 5,594,697.46
12,236,481.12 4,147,487.28 5,050,188.63 5,630,455.39 7,222,459.62 7,001,911.32 5,578,487.24
12,200,246.66 4,138,211.28 5,040,966.65 5,621,559.14 7,201,319.06 6,981,416.32 5,562,158.69
12,163,796.61 4,128,867.13 5,031,686.49 5,612,603.95 7,180,024.18 6,960,771.71 5,545,710.93
12,127,129.68 4,119,454.31 5,022,347.78 5,603,589.43 7,158,573.85 6,939,976.40 5,529,143.11
12,090,244.58 4,109,972.32 5,012,950.15 5,594,515.19 7,136,966.93 6,919,029.27 5,512,454.35
12,053,140.02 4,100,420.66 5,003,493.23 5,585,380.83 7,115,202.28 6,897,929.24 5,495,643.76
12,015,814.68 4,090,798.81 4,993,976.64 5,576,185.96 7,093,278.74 6,876,675.17 5,478,710.44
11,978,267.26 4,081,177.74 4,984,400.01 5,566,930.18 7,071,195.17 6,855,265.95 5,461,653.52
11,940,496.43 4,071,485.98 4,974,762.96 5,557,613.07 7,048,950.38 6,833,700.44 5,444,472.08
11,902,500.86 4,061,723.00 4,965,065.11 5,548,234.23 7,026,543.21 6,811,977.50 5,427,165.22
11,864,279.22 4,051,888.28 4,955,306.07 5,538,793.27 7,003,972.47 6,790,095.99 5,409,732.01
11,825,830.16 4,041,981.29 4,945,485.47 5,529,289.75 6,981,236.95 6,768,054.74 5,392,171.55
11,787,152.33 4,032,001.50 4,935,602.90 5,519,723.28 6,958,335.47 6,745,852.59 5,374,482.89
11,748,244.37 4,021,948.39 4,925,657.98 5,510,093.42 6,935,266.81 6,723,488.36 5,356,665.11
11,709,104.90 4,011,821.40 4,915,650.32 5,500,399.77 6,912,029.75 6,700,960.88 5,338,717.25
11,669,732.56 4,001,620.00 4,905,579.51 5,490,641.90 6,888,623.06 6,678,268.94 5,320,638.38
11,630,125.95 3,991,343.63 4,895,445.17 5,480,819.38 6,865,045.50 6,655,411.36 5,302,427.53
11,590,283.68 3,980,991.76 4,885,246.89 5,470,931.79 6,841,295.82 6,632,386.91 5,284,083.74
11,550,204.35 3,970,563.82 4,874,984.27 5,460,978.69 6,817,372.77 6,609,194.38 5,265,606.04
11,509,886.54 3,960,134.31 4,864,656.90 5,450,959.66 6,793,275.08 6,585,832.55 5,246,993.45
11,469,328.85 3,949,628.16 4,854,264.37 5,440,874.25 6,769,001.48 6,562,300.18 5,228,244.99
11,428,529.83 3,939,044.82 4,843,806.27 5,430,722.02 6,744,550.68 6,538,596.02 5,209,359.67
11,387,488.06 3,928,383.71 4,833,282.19 5,420,502.53 6,719,921.39 6,514,718.82 5,190,336.49
11,346,202.10 3,917,644.26 4,822,691.71 5,410,215.34 6,695,112.30 6,490,667.32 5,171,174.44
11,304,670.48 3,906,825.89 4,812,034.42 5,399,860.00 6,670,122.11 6,466,440.24 5,151,872.50
11,262,891.75 3,895,928.03 4,799,248.17 5,389,436.05 6,644,949.50 6,442,036.31 5,132,429.66
<CAPTION>
65 66 67
-- -- --
Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------
RICHARDSON PLANO WILLOW BROOK
TX TX TX
- ------------------------------------------------------------
7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------
8.760% 8.760% 8.760%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
6,490,705.79 7,019,096.12 5,403,649.03
6,476,939.19 7,004,208.83 5,392,188.05
6,463,072.10 6,989,212.85 5,380,643.40
6,449,103.77 6,974,107.40 5,369,014.48
6,435,033.48 6,958,891.69 5,357,300.66
6,420,860.47 6,943,564.90 5,345,501.34
6,406,584.01 6,928,126.22 5,333,615.88
6,392,203.32 6,912,574.84 5,321,643.65
6,377,717.65 6,896,909.94 5,309,584.03
6,363,126.24 6,881,130.68 5,297,436.38
6,348,428.31 6,865,236.24 5,285,200.04
6,333,623.09 6,849,225.76 5,272,874.38
6,318,709.79 6,833,098.41 5,260,458.75
6,303,687.62 6,816,853.33 5,247,952.47
6,288,555.79 6,800,489.66 5,235,354.91
6,273,313.50 6,784,006.53 5,222,665.38
6,257,959.94 6,767,403.08 5,209,883.22
6,242,494.29 6,750,678.42 5,197,007.74
6,226,915.75 6,733,831.67 5,184,038.28
6,211,223.49 6,716,861.94 5,170,974.14
6,195,416.67 6,699,768.34 5,157,814.63
6,179,494.46 6,682,549.95 5,144,559.06
6,163,456.02 6,665,205.86 5,131,206.72
6,147,300.50 6,647,735.16 5,117,756.91
6,131,027.04 6,630,136.93 5,104,208.91
6,114,634.79 6,612,410.23 5,090,562.02
6,098,122.87 6,594,554.12 5,076,815.50
6,081,490.42 6,576,567.67 5,062,968.63
6,064,736.55 6,558,449.91 5,049,020.68
6,047,860.38 6,540,199.90 5,034,970.92
6,030,861.01 6,521,816.66 5,020,818.58
6,013,737.54 6,503,299.22 5,006,562.94
5,996,489.08 6,484,646.60 4,992,203.23
5,979,114.70 6,465,857.82 4,977,738.69
5,961,613.48 6,446,931.88 4,963,168.56
5,943,984.51 6,427,867.79 4,948,492.07
5,926,226.85 6,408,664.52 4,933,708.45
5,908,339.56 6,389,321.07 4,918,816.90
5,890,321.68 6,369,836.42 4,903,816.64
5,872,172.28 6,350,209.52 4,888,706.88
5,853,890.39 6,330,439.35 4,873,486.82
5,835,475.04 6,310,524.86 4,858,155.66
5,816,925.26 6,290,464.99 4,842,712.57
5,798,240.06 6,270,258.69 4,827,156.76
5,779,418.46 6,249,904.87 4,811,487.38
5,760,459.47 6,229,402.48 4,795,703.62
5,741,362.07 6,208,750.42 4,779,804.63
5,722,125.27 6,187,947.60 4,763,789.59
5,702,748.03 6,166,992.91 4,747,657.63
5,683,229.34 6,145,885.26 4,731,407.91
5,663,568.17 6,124,623.52 4,715,039.57
5,643,763.46 6,103,206.58 4,698,551.74
5,623,814.19 6,081,633.28 4,681,943.55
5,603,719.28 6,059,902.51 4,665,214.12
5,583,477.68 6,038,013.09 4,648,362.56
5,563,088.32 6,015,963.89 4,631,387.98
5,542,550.11 5,993,753.73 4,614,289.50
5,521,861.98 5,971,381.43 4,597,066.19
5,501,022.82 5,948,845.81 4,579,717.15
</TABLE>
Page 20
<PAGE>
BALANCE
<TABLE>
<CAPTION>
51 52 53 54 55 56
-- -- -- -- -- --
TIMES MONROE NINE NORTHWESTERN NORTHWESTERN
KMART MIRROR COUNTY, NY WEST HUMAN SERV. HUMAN SERV.
- -------------------------------------------------------------------------------------------------------------------------------
STERLING HEIGHTS LAGUNA HILLS ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS)
MI CA NY NY NJ PA
- -------------------------------------------------------------------------------------------------------------------------------
6,816,611.39 3,578,054.58 15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83
- -------------------------------------------------------------------------------------------------------------------------------
7.790% 6.630% 6.640% 9.000% 7.400% 7.460%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 5TH 5TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
5,528,902.50 1,831,744.13 11,727,592.19 33,888,672.18 2,904,493.75 11,677,421.42
5,511,835.57 1,804,024.78 11,672,738.58 33,722,086.23 2,891,170.02 11,620,752.33
5,494,657.84 1,776,152.27 11,617,581.44 33,554,250.89 2,877,764.12 11,563,730.94
5,477,368.59 1,748,125.78 11,562,119.10 33,385,156.78 2,864,275.55 11,506,355.07
5,459,967.11 1,719,944.43 11,506,349.87 33,214,794.47 2,850,703.80 11,448,622.52
5,442,452.67 1,691,607.38 11,450,272.05 33,043,154.43 2,837,048.36 11,390,531.06
5,424,824.53 1,663,113.77 11,393,883.93 32,870,227.10 2,823,308.71 11,332,078.46
5,407,081.95 1,634,462.74 11,337,183.80 32,696,002.82 2,809,484.34 11,273,262.49
5,389,224.20 1,605,653.40 11,280,169.93 32,520,471.85 2,795,574.71 0.00
5,371,250.51 1,576,684.90 11,222,840.58 32,343,624.40 2,781,579.31 0.00
5,353,160.15 1,547,556.34 11,165,194.01 32,165,450.59 2,767,497.60 0.00
5,334,952.35 1,518,266.85 11,107,279.56 31,985,940.48 0.00 0.00
5,316,626.35 1,488,815.54 11,049,044.65 31,805,084.04 0.00 0.00
5,298,181.39 1,459,201.50 10,990,487.51 31,622,871.18 0.00 0.00
5,279,616.69 1,429,423.85 10,931,606.35 31,439,291.73 0.00 0.00
5,260,931.47 1,399,481.68 10,872,399.38 31,254,335.42 0.00 0.00
5,242,124.95 1,369,374.07 10,812,864.80 31,067,991.95 0.00 0.00
5,223,196.35 1,339,100.13 10,753,000.79 30,880,250.90 0.00 0.00
5,204,144.87 1,308,658.91 10,692,805.54 30,691,101.79 0.00 0.00
5,184,969.71 1,278,049.51 10,632,277.21 30,500,534.06 0.00 0.00
5,165,670.08 1,247,271.00 10,571,413.95 30,308,537.08 0.00 0.00
5,146,245.16 1,216,322.43 10,510,213.92 30,115,100.12 0.00 0.00
5,126,694.14 1,185,202.87 10,448,675.25 29,920,212.38 0.00 0.00
5,107,016.19 1,153,911.38 10,386,849.71 29,723,862.98 0.00 0.00
5,087,210.51 1,122,447.00 10,324,682.07 29,526,040.96 0.00 0.00
5,067,276.26 1,087,902.47 10,262,170.44 29,326,735.28 0.00 0.00
5,047,212.59 1,053,167.08 10,199,312.91 29,125,934.81 0.00 0.00
5,027,018.69 1,018,239.78 10,136,107.57 28,923,628.33 0.00 0.00
5,006,693.69 983,119.50 10,072,552.49 28,719,804.55 0.00 0.00
4,986,236.74 947,805.19 10,008,645.74 28,514,452.09 0.00 0.00
4,965,647.00 912,295.76 9,944,385.37 28,307,559.49 0.00 0.00
4,944,923.59 876,590.14 9,879,769.43 28,099,115.20 0.00 0.00
4,924,065.66 840,687.25 9,814,795.95 27,889,107.57 0.00 0.00
4,903,072.32 804,586.00 9,749,462.95 27,677,524.89 0.00 0.00
4,881,942.70 768,285.29 9,683,768.43 27,464,355.34 0.00 0.00
4,860,675.92 731,784.02 9,617,766.75 27,249,587.01 0.00 0.00
4,839,271.08 695,081.07 9,551,399.86 27,033,207.93 0.00 0.00
4,817,727.28 658,175.35 9,484,665.74 26,815,206.00 0.00 0.00
4,796,043.63 621,065.71 9,417,562.36 26,595,569.05 0.00 0.00
4,774,219.22 583,751.05 9,350,087.67 26,374,284.83 0.00 0.00
4,752,253.13 546,230.23 9,282,239.62 26,151,340.97 0.00 0.00
4,730,144.44 508,502.10 9,214,016.15 25,926,725.04 0.00 0.00
4,707,892.23 470,565.52 9,145,415.17 25,700,424.49 0.00 0.00
4,685,495.57 432,419.35 9,076,434.60 25,472,426.68 0.00 0.00
4,662,953.51 394,062.41 9,007,072.34 25,242,718.89 0.00 0.00
4,640,265.12 355,493.56 8,937,326.27 25,011,288.29 0.00 0.00
4,617,429.45 316,711.61 8,867,194.28 24,778,121.97 0.00 0.00
4,594,445.53 277,715.39 8,796,733.37 24,543,206.89 0.00 0.00
4,571,312.41 238,503.72 8,725,882.58 24,306,529.95 0.00 0.00
4,548,029.12 199,075.40 8,654,639.74 24,068,077.94 0.00 0.00
4,524,594.68 159,429.24 8,583,002.70 23,827,837.53 0.00 0.00
4,501,008.11 119,564.04 8,510,969.27 23,585,795.32 0.00 0.00
4,477,268.42 79,478.58 8,438,537.25 23,341,937.80 0.00 0.00
4,453,374.62 39,171.65 8,365,704.44 23,096,251.34 0.00 0.00
4,429,325.72 0.00 8,292,468.62 22,848,722.24 0.00 0.00
4,405,120.69 0.00 8,218,827.56 22,599,336.66 0.00 0.00
4,380,758.54 0.00 8,144,779.02 22,348,080.70 0.00 0.00
4,356,238.23 0.00 8,070,320.75 22,094,940.31 0.00 0.00
4,331,558.75 0.00 7,995,450.47 21,839,901.38 0.00 0.00
<CAPTION>
57 58 59 60 61 62 64
-- -- -- -- -- -- --
NORTHWESTERN OFFICE PRICE PRICE
HUMAN SERV. DEPOT CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHUMBERLAND BROOKLYN WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE
PA OH NY VT FL FL TX
- ------------------------------------------------------------------------------------------------------------------------------------
14,135,554.35 4,488,420.74 5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03
- ------------------------------------------------------------------------------------------------------------------------------------
7.140% 8.817715% 7.571% 7.950% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,220,864.44 3,884,950.09 4,786,381.24 5,378,943.04 6,619,593.12 6,417,454.22 5,112,844.88
11,178,587.06 3,873,891.49 4,773,433.14 5,368,380.52 6,594,051.64 6,392,692.69 5,093,117.14
11,136,058.13 3,862,751.62 4,760,403.35 5,357,748.02 6,568,323.70 6,367,750.39 5,073,245.39
11,093,276.16 3,851,529.90 4,747,291.34 5,347,045.08 6,542,407.96 6,342,626.02 5,053,228.57
11,050,239.63 3,840,225.72 4,734,096.62 5,336,271.24 6,516,303.02 6,317,318.24 5,033,065.63
11,006,947.04 3,828,917.29 4,720,818.64 5,325,426.01 6,490,007.53 6,291,825.71 5,012,755.50
10,963,396.85 3,811,353.74 4,707,456.89 5,314,508.94 6,463,520.07 6,266,147.09 4,992,297.10
10,919,587.54 3,793,661.13 4,694,010.84 5,303,519.54 6,436,839.26 6,240,281.02 4,971,689.36
10,875,517.57 3,775,838.52 4,680,479.96 5,292,457.34 6,409,963.67 6,214,226.12 4,950,931.18
10,831,185.38 3,757,884.94 4,666,863.71 5,281,321.85 6,382,891.90 6,187,981.02 4,930,021.47
10,786,589.41 3,739,799.44 4,653,161.55 5,270,112.59 6,355,622.50 6,161,544.33 4,908,959.12
10,741,728.10 3,721,581.04 4,639,372.94 5,258,829.06 6,328,154.03 6,134,914.65 4,887,743.01
10,696,599.86 3,703,228.77 4,625,497.34 5,245,229.01 6,300,485.05 6,108,090.58 4,866,372.02
10,651,203.11 3,684,741.65 4,611,534.19 5,231,538.87 6,272,614.08 6,081,070.69 4,844,845.03
10,605,536.25 3,666,118.69 4,597,482.95 5,217,758.02 6,244,539.65 6,053,853.56 4,823,160.89
10,559,597.67 3,647,358.88 4,583,343.06 5,203,885.88 6,216,260.28 6,026,437.74 4,801,318.45
10,513,385.76 3,628,461.22 4,569,113.95 5,189,921.83 6,187,774.47 5,998,821.78 4,779,316.57
10,466,898.88 3,609,507.45 4,554,795.07 5,175,865.27 6,159,080.72 5,971,004.23 4,757,154.07
10,420,135.41 3,590,414.41 4,540,385.85 5,161,715.59 6,130,177.50 5,942,983.61 4,734,829.78
10,373,093.70 3,571,181.06 4,525,885.72 5,147,472.17 6,101,063.28 5,914,758.44 4,712,342.53
10,325,772.08 3,551,806.39 4,511,294.11 5,133,134.38 6,071,736.53 5,886,327.23 4,689,691.12
10,278,168.91 3,532,289.36 4,496,610.44 5,118,701.61 6,042,195.70 5,857,688.47 4,666,874.35
10,230,282.49 3,512,628.91 4,481,834.12 5,104,173.21 6,012,439.22 5,828,840.64 4,643,891.03
10,182,111.15 3,492,823.99 4,466,964.58 5,089,548.57 5,982,465.51 5,799,782.23 4,620,739.92
10,133,653.19 3,472,873.55 4,452,001.23 5,074,827.04 5,952,273.00 5,770,511.69 4,597,419.81
10,084,906.91 3,452,776.50 4,436,943.46 5,060,007.98 5,921,860.09 5,741,027.48 4,573,929.47
10,035,870.59 3,432,531.78 4,421,790.70 5,045,090.74 5,891,225.15 5,711,328.03 4,550,267.64
9,986,542.50 3,412,138.31 4,406,542.33 5,030,074.68 5,860,366.59 5,681,411.77 4,526,433.09
9,936,920.90 3,391,594.98 4,391,197.76 5,014,959.13 5,829,282.75 5,651,277.13 4,502,424.54
9,887,004.06 3,370,987.58 4,375,756.38 4,999,743.45 5,797,972.01 5,620,922.50 4,478,240.73
9,836,790.22 3,350,228.76 4,360,217.58 4,984,426.96 5,766,432.69 5,590,346.29 4,453,880.37
0.00 3,329,317.40 4,344,580.74 4,969,009.00 5,734,663.14 5,559,546.86 4,429,342.19
0.00 3,308,252.38 4,328,845.24 4,953,488.89 5,702,661.67 5,528,522.61 4,404,624.88
0.00 3,287,032.58 4,313,010.47 4,937,865.97 5,670,426.59 5,497,271.87 4,379,727.13
0.00 3,265,656.85 4,297,075.79 4,922,139.54 5,637,956.20 5,465,793.01 4,354,647.63
0.00 3,244,124.05 4,281,040.58 4,906,308.92 5,605,248.77 5,434,084.34 4,329,385.05
0.00 3,222,433.02 4,264,904.20 4,890,373.43 5,572,302.57 5,402,144.21 4,303,938.05
0.00 3,200,582.61 4,248,666.01 4,874,332.36 5,539,115.87 5,369,970.91 4,278,305.29
0.00 3,178,571.63 4,232,325.37 4,858,185.02 5,505,686.91 5,337,562.75 4,252,485.40
0.00 3,156,398.92 4,215,881.63 4,841,930.71 5,472,013.91 5,304,918.01 4,226,477.04
0.00 3,134,063.28 4,199,334.15 4,825,568.71 5,438,095.10 5,272,034.96 4,200,278.81
0.00 3,111,654.75 4,182,682.27 4,809,098.31 5,403,928.69 5,238,911.86 4,173,889.34
0.00 3,089,081.56 4,165,925.33 4,792,518.80 5,369,512.86 5,205,546.97 4,147,307.22
0.00 3,066,342.49 4,149,062.67 4,775,829.45 5,334,845.79 5,171,938.51 4,120,531.05
0.00 3,043,436.34 4,132,093.62 4,759,029.53 5,299,925.66 5,138,084.72 4,093,559.42
0.00 3,020,361.87 4,115,017.51 4,742,118.31 5,264,750.60 5,103,983.78 4,066,390.89
0.00 2,997,117.85 4,097,833.66 4,725,095.05 5,229,318.77 5,069,633.92 4,039,024.03
0.00 2,973,703.03 4,080,541.39 4,707,959.02 5,193,628.29 5,035,033.29 4,011,457.40
0.00 2,950,116.15 4,063,140.03 4,690,709.46 5,157,677.27 5,000,180.09 3,983,689.53
0.00 2,926,355.96 4,045,628.88 4,673,345.62 5,121,463.80 4,965,072.45 3,955,718.95
0.00 2,902,421.17 4,028,007.24 4,655,866.74 5,084,985.98 4,929,708.53 3,927,544.19
0.00 2,878,310.51 4,010,274.43 4,638,272.07 5,048,241.86 4,894,086.45 3,899,163.75
0.00 2,854,022.68 3,992,429.74 4,620,560.83 5,011,229.52 4,858,204.33 3,870,576.14
0.00 2,829,652.18 3,974,472.47 4,602,732.26 4,973,946.99 4,822,060.27 3,841,779.83
0.00 2,805,102.61 3,956,401.90 4,584,785.57 4,936,392.29 4,785,652.36 3,812,773.32
0.00 2,780,372.64 3,938,217.31 4,566,719.98 4,898,563.44 4,748,978.68 3,783,555.05
0.00 2,755,460.96 3,919,918.00 4,548,534.71 4,860,458.45 4,712,037.27 3,754,123.49
0.00 2,730,366.22 3,901,503.24 4,530,228.96 4,822,075.28 4,674,826.19 3,724,477.09
0.00 2,705,087.08 3,882,972.29 4,511,801.94 4,783,411.92 4,637,343.47 3,694,614.26
<CAPTION>
65 66 67
-- -- --
Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------
RICHARDSON PLANO WILLOW BROOK
TX TX TX
- ------------------------------------------------------------
7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------
8.760% 8.760% 8.760%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
5,480,031.54 5,926,145.69 4,562,241.47
5,458,887.02 5,903,279.85 4,544,638.21
5,437,588.14 5,880,247.09 4,526,906.45
5,416,133.79 5,857,046.20 4,509,045.25
5,394,522.81 5,833,675.94 4,491,053.66
5,372,754.08 5,810,135.07 4,472,930.73
5,350,826.43 5,786,422.36 4,454,675.50
5,328,738.72 5,762,536.54 4,436,287.02
5,306,489.76 5,738,476.36 4,417,764.29
5,284,078.39 5,714,240.53 4,399,106.35
5,261,503.41 5,689,827.79 4,380,312.21
5,238,763.63 5,665,236.83 4,361,380.87
5,215,857.86 5,640,466.36 4,342,311.33
5,192,784.87 5,615,515.07 4,323,102.58
5,169,543.45 5,590,381.63 4,303,753.61
5,146,132.37 5,565,064.71 4,284,263.39
5,122,550.38 5,539,562.98 4,264,630.89
5,098,796.25 5,513,875.09 4,244,855.08
5,074,868.71 5,487,999.68 4,224,934.90
5,050,766.50 5,461,935.38 4,204,869.30
5,026,488.35 5,435,680.81 4,184,657.23
5,002,032.97 5,409,234.58 4,164,297.61
4,977,399.06 5,382,595.29 4,143,789.36
4,952,585.32 5,355,761.54 4,123,131.40
4,927,590.44 5,328,731.89 4,102,322.64
4,902,413.10 5,301,504.94 4,081,361.98
4,877,051.97 5,274,079.22 4,060,248.30
4,851,505.70 5,246,453.30 4,038,980.49
4,825,772.94 5,218,625.71 4,017,557.43
4,799,852.33 5,190,594.98 3,995,977.98
4,773,742.50 5,162,359.62 3,974,241.00
4,747,442.07 5,133,918.15 3,952,345.34
4,720,949.65 5,105,269.05 3,930,289.84
4,694,263.83 5,076,410.81 3,908,073.33
4,667,383.21 5,047,341.91 3,885,694.65
4,640,306.36 5,018,060.81 3,863,152.60
4,613,031.84 4,988,565.95 3,840,445.99
4,585,558.23 4,958,855.78 3,817,573.63
4,557,884.05 4,928,928.73 3,794,534.30
4,530,007.85 4,898,783.21 3,771,326.78
4,501,928.16 4,868,417.63 3,747,949.84
4,473,643.49 4,837,830.38 3,724,402.26
4,445,152.33 4,807,019.84 3,700,682.77
4,416,453.20 4,775,984.38 3,676,790.14
4,387,544.55 4,744,722.37 3,652,723.09
4,358,424.88 4,713,232.14 3,628,480.34
4,329,092.63 4,681,512.04 3,604,060.63
4,299,546.26 4,649,560.38 3,579,462.65
4,269,784.20 4,617,375.47 3,554,685.11
4,239,804.87 4,584,955.61 3,529,726.69
4,209,606.70 4,552,299.08 3,504,586.08
4,179,188.07 4,519,404.17 3,479,261.93
4,148,547.40 4,486,269.12 3,453,752.93
4,117,683.04 4,452,892.18 3,428,057.70
4,086,593.38 4,419,271.59 3,402,174.90
4,055,276.76 4,385,405.58 3,376,103.16
4,023,731.53 4,351,292.34 3,349,841.09
3,991,956.02 4,316,930.07 3,323,387.31
3,959,948.55 4,282,316.96 3,296,740.42
</TABLE>
Page 21
<PAGE>
BALANCE
<TABLE>
<CAPTION>
51 52 53 54 55 56
-- -- -- -- -- --
TIMES MONROE NINE NORTHWESTERN NORTHWESTERN
KMART MIRROR COUNTY, NY WEST HUMAN SERV. HUMAN SERV.
- -------------------------------------------------------------------------------------------------------------------------------
STERLING HEIGHTS LAGUNA HILLS ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS)
MI CA NY NY NJ PA
- -------------------------------------------------------------------------------------------------------------------------------
6,816,611.39 3,578,054.58 15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83
- -------------------------------------------------------------------------------------------------------------------------------
7.790% 6.630% 6.640% 9.000% 7.400% 7.460%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 5TH 5TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
4,306,719.06 0.00 7,920,228.03 21,582,949.65 0.00 0.00
4,281,718.11 0.00 7,844,589.35 21,324,070.78 0.00 0.00
4,256,554.87 0.00 7,768,532.14 21,063,250.32 0.00 0.00
4,231,228.27 0.00 7,692,054.07 20,800,473.71 0.00 0.00
4,205,737.27 0.00 7,615,152.83 20,535,726.27 0.00 0.00
4,180,080.78 0.00 7,537,826.07 20,268,993.23 0.00 0.00
4,154,257.74 0.00 7,460,071.44 20,000,259.69 0.00 0.00
4,128,267.07 0.00 7,381,886.56 19,729,510.64 0.00 0.00
4,102,107.67 0.00 7,303,269.06 19,456,730.98 0.00 0.00
4,075,778.46 0.00 7,224,216.54 19,181,905.48 0.00 0.00
4,049,278.32 0.00 7,144,726.60 18,905,018.78 0.00 0.00
4,022,606.16 0.00 7,064,796.81 18,626,055.43 0.00 0.00
3,995,760.85 0.00 6,984,489.97 18,344,999.85 0.00 0.00
3,968,741.26 0.00 6,903,738.76 18,061,836.36 0.00 0.00
3,941,546.28 0.00 6,822,540.73 17,776,549.15 0.00 0.00
3,914,174.75 0.00 6,740,893.40 17,489,122.27 0.00 0.00
3,886,625.54 0.00 6,658,794.29 17,199,539.70 0.00 0.00
3,858,897.49 0.00 6,576,240.90 16,907,785.26 0.00 0.00
3,830,989.43 0.00 6,493,230.71 16,613,842.66 0.00 0.00
3,802,900.21 0.00 6,409,761.20 16,317,695.49 0.00 0.00
3,774,628.64 0.00 6,325,829.83 16,019,327.22 0.00 0.00
3,746,173.54 0.00 6,241,434.03 15,718,721.18 0.00 0.00
3,717,533.72 0.00 6,156,571.25 15,415,860.60 0.00 0.00
3,688,707.98 0.00 6,071,238.89 15,110,728.56 0.00 0.00
3,659,695.11 0.00 5,985,502.83 14,803,308.04 0.00 0.00
3,630,493.91 0.00 5,899,292.38 14,493,581.86 0.00 0.00
3,601,103.13 0.00 5,812,604.89 14,181,532.73 0.00 0.00
3,571,521.56 0.00 5,725,437.73 13,867,143.24 0.00 0.00
3,541,747.96 0.00 5,637,788.24 13,550,395.82 0.00 0.00
3,511,781.08 0.00 5,549,653.77 13,231,272.80 0.00 0.00
3,481,619.66 0.00 5,461,031.61 12,909,756.36 0.00 0.00
3,451,262.44 0.00 5,371,919.08 12,585,828.54 0.00 0.00
3,420,708.16 0.00 5,282,313.46 12,259,471.26 0.00 0.00
3,389,955.53 0.00 5,192,212.02 11,930,666.31 0.00 0.00
3,359,003.26 0.00 5,101,612.02 11,599,395.31 0.00 0.00
3,327,850.06 0.00 5,010,510.70 11,265,639.79 0.00 0.00
3,296,494.62 0.00 4,918,977.18 10,929,381.10 0.00 0.00
3,264,935.63 0.00 4,826,937.18 10,590,600.47 0.00 0.00
3,233,171.78 0.00 4,734,387.90 10,249,278.98 0.00 0.00
3,201,201.72 0.00 4,641,326.50 9,905,397.58 0.00 0.00
3,169,024.13 0.00 4,547,750.17 9,558,937.07 0.00 0.00
3,136,637.64 0.00 4,453,656.05 9,209,878.11 0.00 0.00
3,104,040.92 0.00 4,359,041.27 8,858,201.21 0.00 0.00
3,071,232.59 0.00 4,263,902.96 8,503,886.73 0.00 0.00
3,038,211.28 0.00 4,168,238.22 8,146,914.89 0.00 0.00
3,004,975.60 0.00 4,072,044.13 7,787,265.76 0.00 0.00
2,971,524.17 0.00 3,975,317.76 7,424,919.26 0.00 0.00
2,937,855.59 0.00 3,878,056.18 7,059,855.17 0.00 0.00
2,903,968.44 0.00 3,780,331.92 6,692,053.09 0.00 0.00
2,869,861.30 0.00 3,682,066.92 6,321,492.50 0.00 0.00
2,835,532.75 0.00 3,583,258.18 5,948,152.70 0.00 0.00
2,800,981.36 0.00 3,483,902.70 5,572,012.86 0.00 0.00
2,766,205.67 0.00 3,383,997.46 5,193,051.96 0.00 0.00
2,731,204.22 0.00 3,283,539.40 4,811,248.86 0.00 0.00
2,695,975.56 0.00 3,182,525.48 4,426,582.24 0.00 0.00
2,660,518.20 0.00 3,080,952.62 4,039,030.62 0.00 0.00
2,624,830.67 0.00 2,978,817.71 3,648,572.36 0.00 0.00
2,588,911.47 0.00 2,876,117.66 3,255,185.66 0.00 0.00
2,552,759.09 0.00 2,772,849.34 2,858,848.56 0.00 0.00
<CAPTION>
57 58 59 60 61 62 64
-- -- -- -- -- -- --
NORTHWESTERN OFFICE PRICE PRICE
HUMAN SERV. DEPOT CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHUMBERLAND BROOKLYN WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE
PA OH NY VT FL FL TX
- ------------------------------------------------------------------------------------------------------------------------------------
14,135,554.35 4,488,420.74 5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03
- ------------------------------------------------------------------------------------------------------------------------------------
7.140% 8.817715% 7.571% 7.950% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 2,679,622.19 3,862,159.62 4,493,252.84 4,744,466.32 4,599,587.13 3,664,533.43
0.00 2,653,970.18 3,841,215.64 4,474,580.85 4,705,236.41 4,561,555.17 3,634,233.02
0.00 2,628,129.67 3,820,139.52 4,455,785.16 4,665,720.13 4,523,245.57 3,603,711.41
0.00 2,602,099.29 3,798,930.43 4,436,864.94 4,625,915.38 4,484,656.31 3,572,966.99
0.00 2,575,877.64 3,777,587.52 4,417,819.38 4,585,820.05 4,445,785.35 3,541,998.14
0.00 2,549,463.30 3,756,109.96 4,398,647.65 4,545,432.02 4,406,630.64 3,510,803.22
0.00 2,522,955.45 3,734,496.90 4,379,348.90 4,504,749.17 4,367,190.09 3,479,380.57
0.00 2,489,133.47 3,712,747.47 4,359,922.29 4,463,769.33 4,327,461.63 3,447,728.54
0.00 2,455,062.96 3,690,860.82 4,340,366.99 4,422,490.33 4,287,443.15 3,415,845.45
0.00 2,420,742.10 3,668,836.09 4,320,682.13 4,380,910.00 4,247,132.53 3,383,729.61
0.00 2,386,169.04 3,646,672.40 4,300,866.86 4,339,026.14 4,206,527.65 3,351,379.32
0.00 2,351,341.94 3,624,368.87 4,280,920.31 4,296,836.52 4,165,626.35 3,318,792.88
0.00 2,316,258.93 3,601,924.63 4,260,841.62 4,254,338.91 4,124,426.48 3,285,968.56
0.00 2,280,918.12 3,579,338.78 4,238,388.13 4,211,531.08 4,082,925.84 3,252,904.62
0.00 2,245,317.62 3,556,610.44 4,215,785.90 4,168,410.74 4,041,122.25 3,219,599.32
0.00 2,209,455.53 3,533,738.69 4,193,033.92 4,124,975.63 3,999,013.49 3,186,050.88
0.00 2,173,329.92 3,510,722.65 4,170,131.21 4,081,223.44 3,956,597.34 3,152,257.54
0.00 2,136,938.86 3,487,561.39 4,147,076.77 4,037,151.87 3,913,871.55 3,118,217.51
0.00 2,100,386.00 3,464,254.01 4,123,869.59 3,992,758.56 3,870,833.86 3,083,928.99
0.00 2,063,564.55 3,440,799.58 4,100,508.67 3,948,041.19 3,827,482.00 3,049,390.16
0.00 2,026,472.53 3,417,197.16 4,076,992.98 3,902,997.38 3,783,813.67 3,014,599.20
0.00 1,989,107.95 3,393,445.84 4,053,321.49 3,857,624.75 3,739,826.56 2,979,554.26
0.00 1,951,468.82 3,369,544.67 4,029,493.19 3,811,920.90 3,695,518.34 2,944,253.50
0.00 1,913,553.11 3,345,492.70 4,005,507.02 3,765,883.42 3,650,886.67 2,908,695.04
0.00 1,875,358.79 3,321,288.98 3,981,361.95 3,719,509.86 3,605,929.20 2,872,877.00
0.00 1,836,883.81 3,296,932.55 3,957,056.91 3,672,797.77 3,560,643.53 2,836,797.50
0.00 1,798,126.12 3,272,422.46 3,932,590.85 3,625,744.68 3,515,027.28 2,800,454.61
0.00 1,759,083.63 3,247,757.73 3,907,962.71 3,578,348.11 3,469,078.03 2,763,846.42
0.00 1,719,754.26 3,222,937.38 3,883,171.40 3,530,605.54 3,422,793.35 2,726,970.99
0.00 1,680,135.89 3,197,960.44 3,858,215.85 3,482,514.45 3,376,170.79 2,689,826.36
0.00 1,640,337.29 3,172,825.92 3,833,094.97 3,434,072.29 3,329,207.89 2,652,410.59
0.00 1,600,246.24 3,147,532.81 3,807,807.66 3,385,276.51 3,281,902.15 2,614,721.67
0.00 1,559,860.61 3,122,080.13 3,782,352.83 3,336,124.52 3,234,251.09 2,576,757.63
0.00 1,519,178.21 3,096,466.87 3,756,729.36 3,286,613.72 3,186,252.17 2,538,516.45
0.00 1,478,196.88 3,070,692.00 3,730,936.13 3,236,741.49 3,137,902.86 2,499,996.11
0.00 1,436,914.41 3,044,754.52 3,704,972.02 3,186,505.19 3,089,200.60 2,461,194.57
0.00 1,395,328.59 3,018,653.39 3,678,835.90 3,135,902.17 3,040,142.82 2,422,109.78
0.00 1,353,437.20 2,992,387.59 3,652,526.63 3,084,929.75 2,990,726.91 2,382,739.68
0.00 1,311,237.99 2,965,956.07 3,626,043.06 3,033,585.22 2,940,950.27 2,343,082.17
0.00 1,268,728.69 2,939,357.80 3,599,384.03 2,981,865.89 2,890,810.25 2,303,135.16
0.00 1,225,907.03 2,912,591.70 3,572,548.39 2,929,769.00 2,840,304.22 2,262,896.53
0.00 1,182,770.71 2,885,656.74 3,545,534.96 2,877,291.80 2,789,429.49 2,222,364.17
0.00 1,139,433.86 2,858,551.84 3,518,342.57 2,824,431.52 2,738,183.37 2,181,535.92
0.00 1,095,778.57 2,831,275.93 3,490,970.03 2,771,185.36 2,686,563.16 2,140,409.62
0.00 1,051,802.50 2,803,827.93 3,463,416.15 2,717,550.50 2,634,566.12 2,098,983.10
0.00 1,007,503.28 2,776,206.76 3,435,679.72 2,663,524.11 2,582,189.51 2,057,254.16
0.00 962,878.55 2,748,411.32 3,407,759.54 2,609,103.33 2,529,430.54 2,015,220.61
0.00 917,925.92 2,720,440.52 3,379,654.39 2,554,285.27 2,476,286.43 1,972,880.21
0.00 872,642.97 2,692,293.24 3,351,363.04 2,499,067.04 2,422,754.37 1,930,230.73
0.00 827,027.27 2,663,968.37 3,322,884.26 2,443,445.72 2,368,831.53 1,887,269.90
0.00 781,076.39 2,635,464.80 3,294,216.80 2,387,418.37 2,314,515.05 1,843,995.46
0.00 734,787.85 2,606,781.40 3,265,359.43 2,330,982.01 2,259,802.06 1,800,405.12
0.00 688,159.18 2,577,917.03 3,236,310.88 2,274,133.67 2,204,689.67 1,756,496.56
0.00 641,187.88 2,548,870.55 3,207,069.88 2,216,870.34 2,149,174.95 1,712,267.48
0.00 593,993.69 2,519,640.81 3,177,635.16 2,159,188.98 2,093,254.98 1,667,715.52
0.00 546,452.71 2,490,226.65 3,148,005.43 2,101,086.55 2,036,926.79 1,622,838.34
0.00 498,562.40 2,460,626.92 3,118,179.40 2,042,559.97 1,980,187.40 1,577,633.54
0.00 450,320.18 2,430,840.43 3,088,155.78 1,983,606.15 1,923,033.82 1,532,098.76
0.00 401,723.48 2,400,866.02 3,057,933.25 1,924,221.96 1,865,463.02 1,486,231.57
<CAPTION>
65 66 67
-- -- --
Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------
RICHARDSON PLANO WILLOW BROOK
TX TX TX
- ------------------------------------------------------------
7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------
8.760% 8.760% 8.760%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
3,927,707.42 4,247,451.17 3,269,899.01
3,895,230.94 4,212,330.87 3,242,861.65
3,862,517.38 4,176,954.18 3,215,626.92
3,829,565.00 4,141,319.25 3,188,193.38
3,796,372.08 4,105,424.18 3,160,559.57
3,762,936.84 4,069,267.08 3,132,724.03
3,729,257.53 4,032,846.03 3,104,685.30
3,695,332.36 3,996,159.10 3,076,441.88
3,661,159.54 3,959,204.36 3,047,992.29
3,626,737.25 3,921,979.86 3,019,335.01
3,592,063.68 3,884,483.61 2,990,468.54
3,557,137.00 3,846,713.64 2,961,391.34
3,521,955.35 3,808,667.95 2,932,101.87
3,486,516.87 3,770,344.52 2,902,598.60
3,450,819.70 3,731,741.34 2,872,879.95
3,414,861.93 3,692,856.35 2,842,944.35
3,378,641.67 3,653,687.50 2,812,790.22
3,342,157.01 3,614,232.72 2,782,415.97
3,305,406.00 3,574,489.92 2,751,819.99
3,268,386.72 3,534,457.00 2,721,000.65
3,231,097.19 3,494,131.83 2,689,956.34
3,193,535.45 3,453,512.29 2,658,685.40
3,155,699.51 3,412,596.23 2,627,186.18
3,117,587.36 3,371,381.49 2,595,457.02
3,079,197.00 3,329,865.87 2,563,496.24
3,040,526.39 3,288,047.19 2,531,302.14
3,001,573.48 3,245,923.24 2,498,873.03
2,962,336.22 3,203,491.78 2,466,207.18
2,922,812.52 3,160,750.57 2,433,302.87
2,883,000.30 3,117,697.35 2,400,158.36
2,842,897.46 3,074,329.84 2,366,771.90
2,802,501.86 3,030,645.74 2,333,141.72
2,761,811.37 2,986,642.76 2,299,266.03
2,720,823.85 2,942,318.55 2,265,143.05
2,679,537.11 2,897,670.78 2,230,770.98
2,637,948.98 2,852,697.07 2,196,147.98
2,596,057.26 2,807,395.06 2,161,272.24
2,553,859.73 2,761,762.35 2,126,141.91
2,511,354.15 2,715,796.51 2,090,755.13
2,468,538.29 2,669,495.12 2,055,110.02
2,425,409.87 2,622,855.74 2,019,204.70
2,381,966.61 2,575,875.89 1,983,037.28
2,338,206.21 2,528,553.08 1,946,605.83
2,294,126.37 2,480,884.82 1,909,908.43
2,249,724.74 2,432,868.58 1,872,943.14
2,204,998.98 2,384,501.82 1,835,708.01
2,159,946.73 2,335,781.98 1,798,201.06
2,114,565.59 2,286,706.49 1,760,420.31
2,068,853.17 2,237,272.75 1,722,363.75
2,022,807.04 2,187,478.14 1,684,029.39
1,976,424.79 2,137,320.03 1,645,415.18
1,929,703.94 2,086,795.76 1,606,519.09
1,882,642.02 2,035,902.67 1,567,339.06
1,835,236.56 1,984,638.06 1,527,873.02
1,787,485.04 1,932,999.22 1,488,118.87
1,739,384.93 1,880,983.41 1,448,074.52
1,690,933.69 1,828,587.89 1,407,737.84
1,642,128.76 1,775,809.89 1,367,106.71
1,592,967.55 1,722,646.60 1,326,178.97
</TABLE>
Page 22
<PAGE>
BALANCE
<TABLE>
<CAPTION>
51 52 53 54 55 56
-- -- -- -- -- --
TIMES MONROE NINE NORTHWESTERN NORTHWESTERN
KMART MIRROR COUNTY, NY WEST HUMAN SERV. HUMAN SERV.
- -------------------------------------------------------------------------------------------------------------------------------
STERLING HEIGHTS LAGUNA HILLS ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS)
MI CA NY NY NJ PA
- -------------------------------------------------------------------------------------------------------------------------------
6,816,611.39 3,578,054.58 15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83
- -------------------------------------------------------------------------------------------------------------------------------
7.790% 6.630% 6.640% 9.000% 7.400% 7.460%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 5TH 5TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
2,516,372.02 0.00 2,669,009.60 2,459,538.94 0.00 0.00
2,479,748.74 0.00 2,564,674.55 2,057,234.49 0.00 0.00
2,442,887.71 0.00 2,459,762.18 1,651,912.76 0.00 0.00
2,405,787.39 0.00 2,354,269.30 1,243,551.11 0.00 0.00
2,368,446.23 0.00 2,248,192.68 832,126.75 0.00 0.00
2,330,862.66 0.00 2,141,529.11 417,616.72 0.00 0.00
2,293,035.12 0.00 2,034,275.34 0.00 0.00 0.00
2,254,962.01 0.00 1,926,428.09 0.00 0.00 0.00
2,216,641.74 0.00 1,817,984.09 0.00 0.00 0.00
2,178,072.71 0.00 1,708,940.03 0.00 0.00 0.00
2,139,253.30 0.00 1,599,292.59 0.00 0.00 0.00
2,100,181.89 0.00 1,489,038.44 0.00 0.00 0.00
2,060,856.84 0.00 1,378,174.22 0.00 0.00 0.00
2,021,276.51 0.00 1,266,779.79 0.00 0.00 0.00
1,981,439.23 0.00 1,154,768.97 0.00 0.00 0.00
1,941,343.34 0.00 1,042,138.36 0.00 0.00 0.00
1,900,987.17 0.00 928,884.53 0.00 0.00 0.00
1,860,369.01 0.00 815,004.03 0.00 0.00 0.00
1,819,487.18 0.00 700,493.39 0.00 0.00 0.00
1,778,339.95 0.00 585,349.12 0.00 0.00 0.00
1,736,925.61 0.00 469,567.72 0.00 0.00 0.00
1,695,242.42 0.00 353,145.67 0.00 0.00 0.00
1,653,288.64 0.00 236,079.41 0.00 0.00 0.00
1,611,062.51 0.00 118,365.39 0.00 0.00 0.00
1,568,562.26 0.00 0.00 0.00 0.00 0.00
1,525,786.11 0.00 0.00 0.00 0.00 0.00
1,482,732.28 0.00 0.00 0.00 0.00 0.00
1,439,398.95 0.00 0.00 0.00 0.00 0.00
1,395,784.32 0.00 0.00 0.00 0.00 0.00
1,351,886.56 0.00 0.00 0.00 0.00 0.00
1,307,703.82 0.00 0.00 0.00 0.00 0.00
1,263,234.27 0.00 0.00 0.00 0.00 0.00
1,218,476.04 0.00 0.00 0.00 0.00 0.00
1,173,427.25 0.00 0.00 0.00 0.00 0.00
1,128,086.02 0.00 0.00 0.00 0.00 0.00
1,082,450.44 0.00 0.00 0.00 0.00 0.00
1,036,518.62 0.00 0.00 0.00 0.00 0.00
990,288.63 0.00 0.00 0.00 0.00 0.00
943,758.52 0.00 0.00 0.00 0.00 0.00
896,926.36 0.00 0.00 0.00 0.00 0.00
849,790.17 0.00 0.00 0.00 0.00 0.00
802,348.00 0.00 0.00 0.00 0.00 0.00
754,597.84 0.00 0.00 0.00 0.00 0.00
706,537.71 0.00 0.00 0.00 0.00 0.00
658,165.59 0.00 0.00 0.00 0.00 0.00
609,479.45 0.00 0.00 0.00 0.00 0.00
560,477.26 0.00 0.00 0.00 0.00 0.00
511,156.96 0.00 0.00 0.00 0.00 0.00
461,516.49 0.00 0.00 0.00 0.00 0.00
411,553.77 0.00 0.00 0.00 0.00 0.00
361,266.71 0.00 0.00 0.00 0.00 0.00
310,653.20 0.00 0.00 0.00 0.00 0.00
259,711.13 0.00 0.00 0.00 0.00 0.00
208,438.36 0.00 0.00 0.00 0.00 0.00
156,832.74 0.00 0.00 0.00 0.00 0.00
104,892.12 0.00 0.00 0.00 0.00 0.00
52,614.31 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
57 58 59 60 61 62 64
-- -- -- -- -- -- --
NORTHWESTERN OFFICE PRICE PRICE
HUMAN SERV. DEPOT CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHUMBERLAND BROOKLYN WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE
PA OH NY VT FL FL TX
- ------------------------------------------------------------------------------------------------------------------------------------
14,135,554.35 4,488,420.74 5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03
- ------------------------------------------------------------------------------------------------------------------------------------
7.140% 8.817715% 7.571% 7.950% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 352,769.68 2,370,702.49 3,027,510.50 1,864,404.27 1,807,471.95 1,440,029.55
0.00 303,456.17 2,338,075.61 2,996,886.20 1,804,149.92 1,749,057.55 1,393,490.26
0.00 253,780.29 2,305,242.88 2,966,059.01 1,743,455.70 1,690,216.72 1,346,611.23
0.00 203,739.39 2,272,203.00 2,935,027.59 1,682,318.42 1,630,946.35 1,299,389.98
0.00 153,330.79 2,238,954.67 2,903,790.59 1,620,734.83 1,571,243.31 1,251,824.01
0.00 102,551.78 2,205,496.57 2,872,346.64 1,558,701.69 1,511,104.43 1,203,910.82
0.00 51,399.64 2,171,827.37 2,840,694.38 1,496,215.70 1,450,526.54 1,155,647.86
0.00 0.00 2,137,945.75 2,808,832.42 1,433,273.56 1,389,506.44 1,107,032.58
0.00 0.00 2,103,850.37 2,776,759.37 1,369,871.95 1,328,040.88 1,058,062.41
0.00 0.00 2,069,539.87 2,744,473.84 1,306,007.50 1,266,126.63 1,008,734.75
0.00 0.00 2,035,012.90 2,711,974.42 1,241,676.85 1,203,760.41 959,047.01
0.00 0.00 2,000,268.10 2,679,259.69 1,176,876.58 1,140,938.91 908,996.54
0.00 0.00 1,965,304.08 2,646,328.23 1,111,603.27 1,077,658.81 858,580.70
0.00 0.00 1,930,119.47 2,613,178.59 1,045,853.46 1,013,916.77 807,796.83
0.00 0.00 1,894,712.88 2,577,567.57 979,623.68 949,709.41 756,642.24
0.00 0.00 1,859,082.90 2,541,720.63 912,910.43 885,033.34 705,114.22
0.00 0.00 1,823,228.12 2,505,636.20 845,710.16 819,885.14 653,210.04
0.00 0.00 1,787,147.13 2,469,312.71 778,019.34 754,261.35 600,926.96
0.00 0.00 1,750,838.50 2,432,748.57 709,834.37 688,158.51 548,262.22
0.00 0.00 1,714,300.79 2,395,942.20 641,151.65 621,573.11 495,213.03
0.00 0.00 1,677,532.56 2,358,891.99 571,967.55 554,501.65 441,776.57
0.00 0.00 1,640,532.36 2,321,596.32 502,278.40 486,940.56 387,950.03
0.00 0.00 1,603,298.71 2,284,053.56 432,080.52 418,886.27 333,730.55
0.00 0.00 1,565,830.15 2,246,262.09 361,370.20 350,335.19 279,115.28
0.00 0.00 1,528,125.19 2,208,220.25 290,143.69 281,283.69 224,101.31
0.00 0.00 1,490,182.35 2,169,926.37 218,397.23 211,728.11 168,685.74
0.00 0.00 1,452,000.12 2,131,378.81 146,127.02 141,664.78 112,865.63
0.00 0.00 1,413,576.99 2,092,575.86 73,329.24 71,089.98 56,638.04
0.00 0.00 1,374,911.44 2,053,515.85 0.00 0.00 0.00
0.00 0.00 1,336,001.94 2,014,197.06 0.00 0.00 0.00
0.00 0.00 1,296,846.96 1,974,617.78 0.00 0.00 0.00
0.00 0.00 1,257,444.95 1,934,776.30 0.00 0.00 0.00
0.00 0.00 1,217,794.34 1,894,670.86 0.00 0.00 0.00
0.00 0.00 1,177,893.56 1,854,299.72 0.00 0.00 0.00
0.00 0.00 1,137,741.05 1,813,661.13 0.00 0.00 0.00
0.00 0.00 1,097,335.21 1,772,753.31 0.00 0.00 0.00
0.00 0.00 1,056,674.44 1,731,574.47 0.00 0.00 0.00
0.00 0.00 1,015,757.13 1,690,122.82 0.00 0.00 0.00
0.00 0.00 974,581.68 1,648,396.55 0.00 0.00 0.00
0.00 0.00 933,146.43 1,606,393.85 0.00 0.00 0.00
0.00 0.00 891,449.77 1,564,112.88 0.00 0.00 0.00
0.00 0.00 849,490.04 1,521,551.79 0.00 0.00 0.00
0.00 0.00 807,265.57 1,478,708.75 0.00 0.00 0.00
0.00 0.00 764,774.70 1,435,581.86 0.00 0.00 0.00
0.00 0.00 722,015.75 1,392,169.26 0.00 0.00 0.00
0.00 0.00 678,987.03 1,348,469.05 0.00 0.00 0.00
0.00 0.00 635,686.83 1,304,479.33 0.00 0.00 0.00
0.00 0.00 592,113.45 1,260,198.18 0.00 0.00 0.00
0.00 0.00 548,265.15 1,215,623.66 0.00 0.00 0.00
0.00 0.00 504,140.21 1,170,753.83 0.00 0.00 0.00
0.00 0.00 459,736.87 1,125,586.75 0.00 0.00 0.00
0.00 0.00 415,053.39 1,080,120.43 0.00 0.00 0.00
0.00 0.00 370,087.99 1,034,352.90 0.00 0.00 0.00
0.00 0.00 324,838.90 988,282.16 0.00 0.00 0.00
0.00 0.00 279,304.32 941,906.20 0.00 0.00 0.00
0.00 0.00 233,482.46 895,222.99 0.00 0.00 0.00
0.00 0.00 187,371.50 848,230.52 0.00 0.00 0.00
0.00 0.00 140,969.61 800,926.71 0.00 0.00 0.00
0.00 0.00 94,274.97 753,309.52 0.00 0.00 0.00
<CAPTION>
65 66 67
-- -- --
Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------
RICHARDSON PLANO WILLOW BROOK
TX TX TX
- ------------------------------------------------------------
7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------
8.760% 8.760% 8.760%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
1,543,447.46 1,669,095.22 1,284,952.46
1,493,565.87 1,615,152.91 1,243,424.99
1,443,320.16 1,560,816.83 1,201,594.37
1,392,707.64 1,506,084.09 1,159,458.39
1,341,725.66 1,450,951.81 1,117,014.82
1,290,371.51 1,395,417.05 1,074,261.40
1,238,642.47 1,339,476.90 1,031,195.89
1,186,535.81 1,283,128.38 987,816.00
1,134,048.77 1,226,368.52 944,119.44
1,081,178.58 1,169,194.31 900,103.89
1,027,922.43 1,111,602.73 855,767.03
974,277.51 1,053,590.73 811,106.51
920,240.99 995,155.24 766,119.97
865,810.00 936,293.17 720,805.02
810,981.66 877,001.41 675,159.28
755,753.08 817,276.82 629,180.32
700,121.32 757,116.24 582,865.72
644,083.46 696,516.49 536,213.02
587,636.52 635,474.36 489,219.75
530,777.52 573,986.62 441,883.44
473,503.44 512,050.03 394,201.57
415,811.27 449,661.29 346,171.62
357,697.94 386,817.12 297,791.05
299,160.38 323,514.18 249,057.30
240,195.50 259,749.14 199,967.80
180,800.18 195,518.61 150,519.95
120,971.27 130,819.19 100,711.12
60,705.61 65,647.47 50,538.69
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 23
<PAGE>
BALANCE
<TABLE>
<CAPTION>
51 52 53 54 55 56
-- -- -- -- -- --
TIMES MONROE NINE NORTHWESTERN NORTHWESTERN
KMART MIRROR COUNTY, NY WEST HUMAN SERV. HUMAN SERV.
- -------------------------------------------------------------------------------------------------------------------------------
STERLING HEIGHTS LAGUNA HILLS ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS)
MI CA NY NY NJ PA
- -------------------------------------------------------------------------------------------------------------------------------
6,816,611.39 3,578,054.58 15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83
- -------------------------------------------------------------------------------------------------------------------------------
7.790% 6.630% 6.640% 9.000% 7.400% 7.460%
- -------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 5TH 5TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
57 58 59 60 61 62 64
-- -- -- -- -- -- --
NORTHWESTERN OFFICE PRICE PRICE
HUMAN SERV. DEPOT CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHUMBERLAND BROOKLYN WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE
PA OH NY VT FL FL TX
- ------------------------------------------------------------------------------------------------------------------------------------
14,135,554.35 4,488,420.74 5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03
- ------------------------------------------------------------------------------------------------------------------------------------
7.140% 8.817715% 7.571% 7.950% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
5TH 1ST 1ST 1ST 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 47,285.73 705,376.87 0.00 0.00 0.00
0.00 0.00 0.00 657,126.66 0.00 0.00 0.00
0.00 0.00 0.00 608,556.80 0.00 0.00 0.00
0.00 0.00 0.00 559,665.15 0.00 0.00 0.00
0.00 0.00 0.00 510,449.61 0.00 0.00 0.00
0.00 0.00 0.00 460,908.00 0.00 0.00 0.00
0.00 0.00 0.00 411,038.19 0.00 0.00 0.00
0.00 0.00 0.00 360,837.99 0.00 0.00 0.00
0.00 0.00 0.00 310,305.21 0.00 0.00 0.00
0.00 0.00 0.00 259,437.65 0.00 0.00 0.00
0.00 0.00 0.00 208,233.10 0.00 0.00 0.00
0.00 0.00 0.00 156,689.31 0.00 0.00 0.00
0.00 0.00 0.00 104,804.05 0.00 0.00 0.00
0.00 0.00 0.00 52,575.04 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
65 66 67
-- -- --
Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------
RICHARDSON PLANO WILLOW BROOK
TX TX TX
- ------------------------------------------------------------
7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------
8.760% 8.760% 8.760%
- ------------------------------------------------------------
10TH 10TH 10TH
- ------------------------------------------------------------
<S> <C> <C>
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 24
<PAGE>
<TABLE>
<CAPTION>
BALANCE
68 69 70 74 75 76 77
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------------------------------------- ---------------
BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON
CA CA CA CA CT ID KY
- ----------------------------------------------------------------------------------------------------------------- ---------------
4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43
- ----------------------------------------------------------------------------------------------------------------- ---------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------------------------------------- ---------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
4,662,908.39 4,067,643.52 3,273,957.51 3,373,168.08 2,877,113.78 3,968,432.94 2,281,848.90
4,656,742.45 4,062,264.71 3,269,628.23 3,368,707.61 2,873,309.26 3,963,185.33 2,278,831.53
4,650,541.88 4,056,855.71 3,265,274.63 3,364,222.09 2,869,483.38 3,957,908.25 2,275,797.20
4,644,306.48 4,051,416.32 3,260,896.59 3,359,711.38 2,865,636.01 3,952,601.53 2,272,745.84
4,638,036.07 4,045,946.39 3,256,493.96 3,355,175.34 2,861,767.03 3,947,265.01 2,269,677.34
4,631,730.45 4,040,445.74 3,252,066.61 3,350,613.82 2,857,876.33 3,941,898.53 2,266,591.61
4,625,389.42 4,034,914.20 3,247,614.39 3,346,026.69 2,853,963.77 3,936,501.90 2,263,488.55
4,619,012.77 4,029,351.60 3,243,137.18 3,341,413.80 2,850,029.25 3,931,074.97 2,260,368.07
4,612,600.32 4,023,757.75 3,238,634.81 3,336,775.00 2,846,072.63 3,925,617.56 2,257,230.06
4,606,151.86 4,018,132.50 3,234,107.17 3,332,110.16 2,842,093.79 3,920,129.51 2,254,074.43
4,599,667.18 4,012,475.65 3,229,554.09 3,327,419.11 2,838,092.60 3,914,610.63 2,250,901.07
4,593,146.08 4,006,787.03 3,224,975.45 3,322,701.72 2,834,068.95 3,909,060.76 2,247,709.90
4,586,588.36 4,001,066.47 3,220,371.10 3,317,957.84 2,830,022.70 3,903,479.72 2,244,500.80
4,579,993.82 3,995,313.78 3,215,740.88 3,313,187.32 2,825,953.72 3,897,867.35 2,241,273.69
4,573,362.24 3,989,528.79 3,211,084.67 3,308,390.01 2,821,861.90 3,892,223.45 2,238,028.45
4,566,693.42 3,983,711.31 3,206,402.30 3,303,565.76 2,817,747.09 3,886,547.86 2,234,764.98
4,559,987.15 3,977,861.16 3,201,693.65 3,298,714.41 2,813,609.18 3,880,840.39 2,231,483.19
4,553,243.22 3,971,978.15 3,196,958.54 3,293,835.82 2,809,448.03 3,875,100.88 2,228,182.97
4,546,461.41 3,966,062.11 3,192,196.85 3,288,929.83 2,805,263.51 3,869,329.13 2,224,864.21
4,539,641.52 3,960,112.84 3,187,408.42 3,283,996.30 2,801,055.50 3,863,524.96 2,221,526.82
4,532,783.33 3,954,130.17 3,182,593.09 3,279,035.05 2,796,823.85 3,857,688.21 2,218,170.68
4,525,886.63 3,948,113.89 3,177,750.72 3,274,045.95 2,792,568.43 3,851,818.67 2,214,795.70
4,518,951.19 3,942,063.83 3,172,881.16 3,269,028.82 2,788,289.12 3,845,916.17 2,211,401.76
4,511,976.81 3,935,979.80 3,167,984.25 3,263,983.52 2,783,985.78 3,839,980.53 2,207,988.76
4,504,963.26 3,929,861.59 3,163,059.84 3,258,909.89 2,779,658.27 3,834,011.55 2,204,556.60
4,497,910.32 3,923,709.03 3,158,107.78 3,253,807.77 2,775,306.46 3,828,009.05 2,201,105.16
4,490,817.78 3,917,521.92 3,153,127.91 3,248,676.99 2,770,930.21 3,821,972.84 2,197,634.34
4,483,685.40 3,911,300.06 3,148,120.07 3,243,517.40 2,766,529.38 3,815,902.73 2,194,144.03
4,476,512.97 3,905,043.26 3,143,084.11 3,238,328.83 2,762,103.84 3,809,798.53 2,190,634.12
4,469,300.26 3,898,751.32 3,138,019.86 3,233,111.12 2,757,653.44 3,803,660.06 2,187,104.50
4,462,047.05 3,892,424.05 3,132,927.18 3,227,864.12 2,753,178.05 3,797,487.11 2,183,555.05
4,454,753.10 3,886,061.24 3,127,805.90 3,222,587.64 2,748,677.53 3,791,279.49 2,179,985.67
4,447,418.19 3,879,662.70 3,122,655.85 3,217,281.54 2,744,151.74 3,785,037.02 2,176,396.25
4,440,042.09 3,873,228.23 3,117,476.89 3,211,945.64 2,739,600.52 3,778,759.48 2,172,786.67
4,432,624.57 3,866,757.63 3,112,268.84 3,206,579.77 2,735,023.75 3,772,446.70 2,169,156.81
4,425,165.39 3,860,250.68 3,107,031.54 3,201,183.76 2,730,421.28 3,766,098.46 2,165,506.58
4,417,664.32 3,853,707.20 3,101,764.83 3,195,757.46 2,725,792.96 3,759,714.57 2,161,835.84
4,410,121.13 3,847,126.96 3,096,468.55 3,190,300.68 2,721,138.65 3,753,294.83 2,158,144.49
4,402,535.57 3,840,509.78 3,091,142.52 3,184,813.26 2,716,458.20 3,746,839.04 2,154,432.41
4,394,907.42 3,833,855.43 3,085,786.58 3,179,295.02 2,711,751.47 3,740,346.99 2,150,699.48
4,387,236.43 3,827,163.71 3,080,400.56 3,173,745.79 2,707,018.30 3,733,818.49 2,146,945.59
4,379,522.35 3,820,434.42 3,074,984.30 3,168,165.40 2,702,258.56 3,727,253.32 2,143,170.62
4,371,764.96 3,813,667.33 3,069,537.62 3,162,553.67 2,697,472.08 3,720,651.28 2,139,374.45
4,363,964.00 3,806,862.24 3,064,060.35 3,156,910.42 2,692,658.73 3,714,012.17 2,135,556.96
<CAPTION>
78 79 80 81 82 83 84
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD
KY MI NH NH NJ NV NY
- ------------------- ----------------------------------------------------------------------------------------------------------------
2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69
- ------------------- ----------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,063,585.36 2,827,508.49 2,033,821.04 2,331,454.19 4,266,064.66 4,960,540.10 3,571,589.21
2,060,856.60 2,823,769.56 2,031,131.64 2,328,371.22 4,260,423.48 4,953,980.58 3,566,866.36
2,058,112.52 2,820,009.64 2,028,427.14 2,325,270.94 4,254,750.62 4,947,384.23 3,562,116.99
2,055,353.03 2,816,228.61 2,025,707.44 2,322,153.24 4,249,045.90 4,940,750.84 3,557,340.95
2,052,578.04 2,812,426.34 2,022,972.48 2,319,018.04 4,243,309.14 4,934,080.19 3,552,538.08
2,049,787.46 2,808,602.71 2,020,222.16 2,315,865.23 4,237,540.17 4,927,372.08 3,547,708.24
2,046,981.22 2,804,757.62 2,017,456.39 2,312,694.71 4,231,738.80 4,920,626.30 3,542,851.28
2,044,159.21 2,800,890.93 2,014,675.09 2,309,506.39 4,225,904.85 4,913,842.64 3,537,967.04
2,041,321.36 2,797,002.53 2,011,878.17 2,306,300.16 4,220,038.13 4,907,020.88 3,533,055.38
2,038,467.57 2,793,092.29 2,009,065.54 2,303,075.93 4,214,138.48 4,900,160.81 3,528,116.13
2,035,597.75 2,789,160.09 2,006,237.11 2,299,833.59 4,208,205.68 4,893,262.22 3,523,149.14
2,032,711.82 2,785,205.81 2,003,392.81 2,296,573.04 4,202,239.58 4,886,324.89 3,518,154.26
2,029,809.68 2,781,229.32 2,000,532.53 2,293,294.18 4,196,239.96 4,879,348.59 3,513,131.32
2,026,891.25 2,777,230.50 1,997,656.19 2,289,996.91 4,190,206.66 4,872,333.12 3,508,080.18
2,023,956.42 2,773,209.22 1,994,763.69 2,286,681.12 4,184,139.47 4,865,278.25 3,503,000.68
2,021,005.11 2,769,165.36 1,991,854.95 2,283,346.71 4,178,038.21 4,858,183.76 3,497,892.65
2,018,037.23 2,765,098.79 1,988,929.88 2,279,993.58 4,171,902.69 4,851,049.43 3,492,755.93
2,015,052.68 2,761,009.39 1,985,988.37 2,276,621.61 4,165,732.71 4,843,875.04 3,487,590.36
2,012,051.37 2,756,897.02 1,983,030.35 2,273,230.71 4,159,528.08 4,836,660.35 3,482,395.79
2,009,033.20 2,752,761.55 1,980,055.72 2,269,820.76 4,153,288.60 4,829,405.15 3,477,172.04
2,005,998.09 2,748,602.86 1,977,064.38 2,266,391.67 4,147,014.09 4,822,109.21 3,471,918.96
2,002,945.93 2,744,420.82 1,974,056.25 2,262,943.31 4,140,704.34 4,814,772.29 3,466,636.38
1,999,876.63 2,740,215.29 1,971,031.22 2,259,475.60 4,134,359.16 4,807,394.17 3,461,324.13
1,996,790.10 2,735,986.14 1,967,989.20 2,255,988.41 4,127,978.34 4,799,974.61 3,455,982.05
1,993,686.23 2,731,733.24 1,964,930.10 2,252,481.63 4,121,561.69 4,792,513.39 3,450,609.97
1,990,564.93 2,727,456.46 1,961,853.82 2,248,955.16 4,115,109.00 4,785,010.26 3,445,207.72
1,987,426.10 2,723,155.66 1,958,760.27 2,245,408.89 4,108,620.08 4,777,465.01 3,439,775.13
1,984,269.64 2,718,830.71 1,955,649.34 2,241,842.70 4,102,094.71 4,769,877.37 3,434,312.04
1,981,095.46 2,714,481.47 1,952,520.94 2,238,256.49 4,095,532.70 4,762,247.13 3,428,818.26
1,977,903.45 2,710,107.80 1,949,374.97 2,234,650.13 4,088,933.84 4,754,574.03 3,423,293.63
1,974,693.52 2,705,709.58 1,946,211.34 2,231,023.52 4,082,297.92 4,746,857.85 3,417,737.98
1,971,465.56 2,701,286.65 1,943,029.93 2,227,376.55 4,075,624.74 4,739,098.33 3,412,151.13
1,968,219.47 2,696,838.89 1,939,830.67 2,223,709.10 4,068,914.08 4,731,295.24 3,406,532.90
1,964,955.15 2,692,366.14 1,936,613.43 2,220,021.05 4,062,165.73 4,723,448.32 3,400,883.12
1,961,672.50 2,687,868.28 1,933,378.13 2,216,312.28 4,055,379.48 4,715,557.34 3,395,201.61
1,958,371.42 2,683,345.16 1,930,124.66 2,212,582.69 4,048,555.13 4,707,622.05 3,389,488.20
1,955,051.79 2,678,796.64 1,926,852.92 2,208,832.16 4,041,692.45 4,699,642.19 3,383,742.70
1,951,713.53 2,674,222.58 1,923,562.80 2,205,060.56 4,034,791.23 4,691,617.52 3,377,964.94
1,948,356.52 2,669,622.83 1,920,254.21 2,201,267.79 4,027,851.26 4,683,547.78 3,372,154.72
1,944,980.65 2,664,997.24 1,916,927.04 2,197,453.71 4,020,872.31 4,675,432.72 3,366,311.88
1,941,585.83 2,660,345.68 1,913,581.18 2,193,618.21 4,013,854.17 4,667,272.09 3,360,436.23
1,938,171.94 2,655,668.00 1,910,216.53 2,189,761.18 4,006,796.61 4,659,065.63 3,354,527.58
1,934,738.88 2,650,964.05 1,906,832.99 2,185,882.48 3,999,699.42 4,650,813.09 3,348,585.75
1,931,286.54 2,646,233.68 1,903,430.45 2,181,982.00 3,992,562.38 4,642,514.20 3,342,610.55
<CAPTION>
85 86
-- --
RITE AID RITE AID
- ----------------------------------
BROOKLYN CATSKILL
NY NY
- ----------------------------------
3,079,579.11 2,433,860.98
- ----------------------------------
6.739% 6.739%
- ----------------------------------
10TH 10TH
- ----------------------------------
<S> <C>
3,075,534.92 2,430,664.77
3,071,468.02 2,427,450.61
3,067,378.29 2,424,218.39
3,063,265.58 2,420,968.03
3,059,129.78 2,417,699.41
3,054,970.75 2,414,412.44
3,050,788.37 2,411,107.01
3,046,582.50 2,407,783.01
3,042,353.01 2,404,440.35
3,038,099.77 2,401,078.92
3,033,822.64 2,397,698.61
3,029,521.49 2,394,299.31
3,025,196.19 2,390,880.93
3,020,846.60 2,387,443.35
3,016,472.58 2,383,986.46
3,012,073.99 2,380,510.16
3,007,650.71 2,377,014.34
3,003,202.59 2,373,498.89
2,998,729.48 2,369,963.69
2,994,231.26 2,366,408.64
2,989,707.77 2,362,833.63
2,985,158.88 2,359,238.54
2,980,584.44 2,355,623.26
2,975,984.32 2,351,987.68
2,971,358.36 2,348,331.68
2,966,706.43 2,344,655.15
2,962,028.36 2,340,957.97
2,957,324.03 2,337,240.03
2,952,593.28 2,333,501.21
2,947,835.96 2,329,741.39
2,943,051.93 2,325,960.46
2,938,241.03 2,322,158.30
2,933,403.11 2,318,334.78
2,928,538.02 2,314,489.79
2,923,645.61 2,310,623.21
2,918,725.73 2,306,734.92
2,913,778.22 2,302,824.79
2,908,802.92 2,298,892.70
2,903,799.68 2,294,938.53
2,898,768.35 2,290,962.15
2,893,708.76 2,286,963.44
2,888,620.75 2,282,942.27
2,883,504.18 2,278,898.53
2,878,358.86 2,274,832.07
</TABLE>
Page 25
<PAGE>
<TABLE>
<CAPTION>
BALANCE
68 69 70 74 75 76
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
CA CA CA CA CT ID
- ------------------------------------------------------------------------------------------------------------------------------------
4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
4,356,119.24 3,800,018.93 3,058,552.32 3,151,235.48 2,687,818.34 3,707,335.77
4,348,230.42 3,793,137.20 3,053,013.36 3,145,528.68 2,682,950.77 3,700,621.88
4,340,297.30 3,786,216.81 3,047,443.30 3,139,789.82 2,678,055.86 3,693,870.29
4,332,319.62 3,779,257.57 3,041,841.95 3,134,018.74 2,673,133.47 3,687,080.78
4,324,297.15 3,772,259.24 3,036,209.15 3,128,215.24 2,668,183.43 3,680,253.14
4,316,229.62 3,765,221.61 3,030,544.71 3,122,379.16 2,663,205.59 3,673,387.16
4,308,116.79 3,758,144.45 3,024,848.47 3,116,510.30 2,658,199.80 3,666,482.62
4,299,958.39 3,751,027.56 3,019,120.23 3,110,608.48 2,653,165.90 3,659,539.30
4,291,754.18 3,743,870.69 3,013,359.83 3,104,673.52 2,648,103.73 3,652,557.00
4,283,503.90 3,736,673.64 3,007,567.07 3,098,705.23 2,643,013.13 3,645,535.48
4,275,207.28 3,729,436.16 3,001,741.79 3,092,703.42 2,637,893.94 3,638,474.53
4,266,864.07 3,722,158.04 2,995,883.79 3,086,667.91 2,632,746.00 3,631,373.92
4,258,474.01 3,714,839.05 2,989,992.89 3,080,598.50 2,627,569.15 3,624,233.45
4,250,036.83 3,707,478.96 2,984,068.92 3,074,495.01 2,622,363.23 3,617,052.87
4,241,552.27 3,700,077.53 2,978,111.67 3,068,357.24 2,617,128.08 3,609,831.96
4,233,020.06 3,692,634.54 2,972,120.97 3,062,185.00 2,611,863.52 3,602,570.51
4,224,439.93 3,685,149.75 2,966,096.62 3,055,978.10 2,606,569.40 3,595,268.27
4,215,811.63 3,677,622.93 2,960,038.45 3,049,736.35 2,601,245.55 3,587,925.03
4,207,134.86 3,670,053.84 2,953,946.25 3,043,459.54 2,595,891.80 3,580,540.55
4,198,409.37 3,662,442.24 2,947,819.84 3,037,147.48 2,590,507.99 3,573,114.60
4,189,634.88 3,654,787.89 2,941,659.03 3,030,799.97 2,585,093.94 3,565,646.94
4,180,811.11 3,647,090.56 2,935,463.61 3,024,416.82 2,579,649.49 3,558,137.35
4,171,937.79 3,639,350.01 2,929,233.41 3,017,997.82 2,574,174.46 3,550,585.59
4,163,014.63 3,631,565.98 2,922,968.21 3,011,542.78 2,568,668.68 3,542,991.42
4,154,041.37 3,623,738.24 2,916,667.84 3,005,051.48 2,563,131.99 3,535,354.60
4,145,017.71 3,615,866.54 2,910,332.08 2,998,523.73 2,557,564.20 3,527,674.89
4,135,943.38 3,607,950.63 2,903,960.74 2,991,959.32 2,551,965.14 3,519,952.05
4,126,818.09 3,599,990.27 2,897,553.62 2,985,358.04 2,546,334.65 3,512,185.85
4,117,641.55 3,591,985.21 2,891,110.51 2,978,719.69 2,540,672.53 3,504,376.03
4,108,413.48 3,583,935.19 2,884,631.23 2,972,044.07 2,534,978.61 3,496,522.35
4,099,133.59 3,575,839.96 2,878,115.56 2,965,330.95 2,529,252.72 3,488,624.56
4,089,801.58 3,567,699.27 2,871,563.29 2,958,580.14 2,523,494.67 3,480,682.43
4,080,417.16 3,559,512.86 2,864,974.24 2,951,791.41 2,517,704.28 3,472,695.69
4,070,980.05 3,551,280.49 2,858,348.17 2,944,964.56 2,511,881.38 3,464,664.10
4,061,489.93 3,543,001.88 2,851,684.90 2,938,099.37 2,506,025.78 3,456,587.41
4,051,946.52 3,534,676.77 2,844,984.21 2,931,195.62 2,500,137.29 3,448,465.36
4,042,349.52 3,526,304.92 2,838,245.88 2,924,253.11 2,494,215.74 3,440,297.69
4,032,698.62 3,517,886.05 2,831,469.72 2,917,271.61 2,488,260.93 3,432,084.16
4,022,993.52 3,509,419.90 2,824,655.50 2,910,250.90 2,482,272.68 3,423,824.50
4,013,233.92 3,500,906.21 2,817,803.02 2,903,190.76 2,476,250.80 3,415,518.46
4,003,419.52 3,492,344.70 2,810,912.05 2,896,090.98 2,470,195.10 3,407,165.77
3,993,549.99 3,483,735.12 2,803,982.38 2,888,951.32 2,464,105.39 3,398,766.18
3,983,625.04 3,475,077.19 2,797,013.80 2,881,771.57 2,457,981.49 3,390,319.41
3,973,644.36 3,466,370.63 2,790,006.08 2,874,551.50 2,451,823.19 3,381,825.21
3,963,607.62 3,457,615.18 2,782,959.01 2,867,290.88 2,445,630.31 3,373,283.31
3,953,514.52 3,448,810.56 2,775,872.37 2,859,989.49 2,439,402.65 3,364,693.44
3,943,364.74 3,439,956.50 2,768,745.92 2,852,647.10 2,433,140.02 3,356,055.32
3,933,157.96 3,431,052.71 2,761,579.46 2,845,263.47 2,426,842.22 3,347,368.70
3,922,893.86 3,422,098.92 2,754,372.75 2,837,838.37 2,420,509.05 3,338,633.30
3,912,572.12 3,413,094.85 2,747,125.57 2,830,371.58 2,414,140.32 3,329,848.83
3,902,192.41 3,404,040.21 2,739,837.69 2,822,862.85 2,407,735.82 3,321,015.04
3,891,754.41 3,394,934.72 2,732,508.88 2,815,311.96 2,401,295.35 3,312,131.64
3,881,257.80 3,385,778.10 2,725,138.91 2,807,718.66 2,394,818.71 3,303,198.35
3,870,702.23 3,376,570.05 2,717,727.56 2,800,082.72 2,388,305.71 3,294,214.89
3,860,087.39 3,367,310.30 2,710,274.58 2,792,403.90 2,381,756.12 3,285,180.98
3,849,412.94 3,357,998.54 2,702,779.75 2,784,681.96 2,375,169.76 3,276,096.34
3,838,678.54 3,348,634.49 2,695,242.83 2,776,916.65 2,368,546.41 3,266,960.68
3,827,883.86 3,339,217.85 2,687,663.59 2,769,107.73 2,361,885.86 3,257,773.72
3,817,028.56 3,329,748.34 2,680,041.78 2,761,254.95 2,355,187.91 3,248,535.16
<CAPTION>
77 78 79 80 81 82 83
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD CARTERET LAS VEGAS
KY KY MI NH NH NJ NV
- ------------------------------------------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,131,718.03 1,927,814.82 2,641,476.75 1,900,008.80 2,178,059.62 3,985,385.26 4,634,168.71
2,127,857.55 1,924,323.59 2,636,693.10 1,896,567.93 2,174,115.21 3,978,167.82 4,625,776.35
2,123,975.38 1,920,812.76 2,631,882.59 1,893,107.74 2,170,148.65 3,970,909.86 4,617,336.86
2,120,071.41 1,917,282.22 2,627,045.07 1,889,628.12 2,166,159.81 3,963,611.14 4,608,849.97
2,116,145.52 1,913,731.85 2,622,180.37 1,886,128.95 2,162,148.57 3,956,271.43 4,600,315.42
2,112,197.58 1,910,161.53 2,617,288.36 1,882,610.14 2,158,114.81 3,948,890.50 4,591,732.95
2,108,227.47 1,906,571.17 2,612,368.88 1,879,071.56 2,154,058.39 3,941,468.12 4,583,102.27
2,104,235.06 1,902,960.65 2,607,421.77 1,875,513.12 2,149,979.20 3,934,004.06 4,574,423.13
2,100,220.24 1,899,329.85 2,602,446.87 1,871,934.68 2,145,877.09 3,926,498.08 4,565,695.25
2,096,182.86 1,895,678.66 2,597,444.04 1,868,336.16 2,141,751.95 3,918,949.95 4,556,918.35
2,092,122.82 1,892,006.96 2,592,413.11 1,864,717.42 2,137,603.64 3,911,359.43 4,548,092.17
2,088,039.97 1,888,314.65 2,587,353.93 1,861,078.36 2,133,432.04 3,903,726.28 4,539,216.42
2,083,934.19 1,884,601.60 2,582,266.34 1,857,418.87 2,129,237.01 3,896,050.27 4,530,290.82
2,079,805.36 1,880,867.70 2,577,150.18 1,853,738.83 2,125,018.42 3,888,331.15 4,521,315.10
2,075,653.34 1,877,112.83 2,572,005.28 1,850,038.11 2,120,776.13 3,880,568.68 4,512,288.97
2,071,478.01 1,873,336.87 2,566,831.50 1,846,316.62 2,116,510.03 3,872,762.61 4,503,212.15
2,067,279.22 1,869,539.71 2,561,628.66 1,842,574.23 2,112,219.97 3,864,912.71 4,494,084.36
2,063,056.86 1,865,721.22 2,556,396.59 1,838,810.82 2,107,905.81 3,857,018.73 4,484,905.31
2,058,810.78 1,861,881.29 2,551,135.15 1,835,026.27 2,103,567.43 3,849,080.41 4,475,674.71
2,054,540.86 1,858,019.80 2,545,844.16 1,831,220.47 2,099,204.68 3,841,097.52 4,466,392.27
2,050,246.96 1,854,136.62 2,540,523.46 1,827,393.30 2,094,817.44 3,833,069.79 4,457,057.71
2,045,928.94 1,850,231.63 2,535,172.87 1,823,544.64 2,090,405.55 3,824,996.98 4,447,670.72
2,041,586.68 1,846,304.71 2,529,792.24 1,819,674.36 2,085,968.89 3,816,878.84 4,438,231.02
2,037,220.03 1,842,355.74 2,524,381.39 1,815,782.35 2,081,507.32 3,808,715.10 4,428,738.31
2,032,828.86 1,838,384.59 2,518,940.16 1,811,868.48 2,077,020.68 3,800,505.52 4,419,192.28
2,028,413.02 1,834,391.15 2,513,468.37 1,807,932.63 2,072,508.86 3,792,249.84 4,409,592.65
2,023,972.39 1,830,375.27 2,507,965.85 1,803,974.68 2,067,971.69 3,783,947.79 4,399,939.11
2,019,506.83 1,826,336.84 2,502,432.43 1,799,994.50 2,063,409.05 3,775,599.12 4,390,231.35
2,015,016.18 1,822,275.74 2,496,867.93 1,795,991.97 2,058,820.78 3,767,203.57 4,380,469.08
2,010,500.31 1,818,191.82 2,491,272.18 1,791,966.96 2,054,206.74 3,758,760.86 4,370,651.98
2,005,959.09 1,814,084.98 2,485,645.01 1,787,919.35 2,049,566.79 3,750,270.75 4,360,779.76
2,001,392.36 1,809,955.06 2,479,986.24 1,783,849.01 2,044,900.79 3,741,732.95 4,350,852.09
1,996,799.99 1,805,801.96 2,474,295.69 1,779,755.80 2,040,208.58 3,733,147.21 4,340,868.67
1,992,181.82 1,801,625.53 2,468,573.18 1,775,639.62 2,035,490.02 3,724,513.25 4,330,829.18
1,987,537.72 1,797,425.65 2,462,818.54 1,771,500.31 2,030,744.97 3,715,830.81 4,320,733.32
1,982,867.54 1,793,202.18 2,457,031.58 1,767,337.76 2,025,973.26 3,707,099.61 4,310,580.76
1,978,171.14 1,788,955.00 2,451,212.12 1,763,151.84 2,021,174.76 3,698,319.37 4,300,371.18
1,973,448.36 1,784,683.96 2,445,359.97 1,758,942.40 2,016,349.31 3,689,489.83 4,290,104.27
1,968,699.05 1,780,388.94 2,439,474.97 1,754,709.33 2,011,496.76 3,680,610.70 4,279,779.70
1,963,923.08 1,776,069.80 2,433,556.91 1,750,452.49 2,006,616.96 3,671,681.70 4,269,397.15
1,959,120.29 1,771,726.40 2,427,605.62 1,746,171.74 2,001,709.76 3,662,702.56 4,258,956.29
1,954,290.52 1,767,358.61 2,421,620.91 1,741,866.95 1,996,775.00 3,653,673.00 4,248,456.80
1,949,433.63 1,762,966.29 2,415,602.59 1,737,537.98 1,991,812.52 3,644,592.73 4,237,898.34
1,944,549.46 1,758,549.31 2,409,550.47 1,733,184.70 1,986,822.18 3,635,461.47 4,227,280.59
1,939,637.87 1,754,107.52 2,403,464.37 1,728,806.98 1,981,803.81 3,626,278.92 4,216,603.22
1,934,698.69 1,749,640.78 2,397,344.08 1,724,404.67 1,976,757.26 3,617,044.81 4,205,865.88
1,929,731.78 1,745,148.96 2,391,189.43 1,719,977.64 1,971,682.37 3,607,758.84 4,195,068.24
1,924,736.97 1,740,631.92 2,385,000.21 1,715,525.75 1,966,578.98 3,598,420.72 4,184,209.96
1,919,714.11 1,736,089.51 2,378,776.23 1,711,048.86 1,961,446.93 3,589,030.16 4,173,290.71
1,914,663.04 1,731,521.59 2,372,517.30 1,706,546.82 1,956,286.06 3,579,586.87 4,162,310.14
1,909,583.61 1,726,928.01 2,366,223.23 1,702,019.50 1,951,096.21 3,570,090.54 4,151,267.90
1,904,475.66 1,722,308.64 2,359,893.80 1,697,466.76 1,945,877.21 3,560,540.89 4,140,163.64
1,899,339.01 1,717,663.33 2,353,528.83 1,692,888.45 1,940,628.90 3,550,937.60 4,128,997.03
1,894,173.53 1,712,991.93 2,347,128.12 1,688,284.43 1,935,351.12 3,541,280.38 4,117,767.71
1,888,979.03 1,708,294.30 2,340,691.46 1,683,654.55 1,930,043.70 3,531,568.93 4,106,475.33
1,883,755.36 1,703,570.28 2,334,218.65 1,678,998.68 1,924,706.47 3,521,802.95 4,095,119.53
1,878,502.36 1,698,819.74 2,327,709.49 1,674,316.66 1,919,339.27 3,511,982.11 4,083,699.96
1,873,219.85 1,694,042.52 2,321,163.78 1,669,608.34 1,913,941.93 3,502,106.13 4,072,216.26
1,867,907.68 1,689,238.47 2,314,581.31 1,664,873.58 1,908,514.28 3,492,174.68 4,060,668.07
<CAPTION>
84 85 86
-- -- --
RITE AID RITE AID RITE AID
- -------------------------------------------------------
BRENTWOOD BROOKLYN CATSKILL
NY NY NY
- -------------------------------------------------------
3,576,285.69 3,079,579.11 2,433,860.98
- -------------------------------------------------------
6.739% 6.739% 6.739%
- -------------------------------------------------------
10TH 10TH 10TH
- -------------------------------------------------------
<S> <C> <C>
3,336,601.79 2,873,184.66 2,270,742.78
3,330,559.29 2,867,981.39 2,266,630.52
3,324,482.86 2,862,748.91 2,262,495.17
3,318,372.30 2,857,487.04 2,258,336.60
3,312,227.42 2,852,195.62 2,254,154.67
3,306,048.04 2,846,874.49 2,249,949.26
3,299,833.95 2,841,523.47 2,245,720.23
3,293,584.97 2,836,142.40 2,241,467.45
3,287,300.90 2,830,731.12 2,237,190.79
3,280,981.53 2,825,289.44 2,232,890.11
3,274,626.68 2,819,817.20 2,228,565.27
3,268,236.13 2,814,314.24 2,224,216.16
3,261,809.70 2,808,780.37 2,219,842.61
3,255,347.18 2,803,215.42 2,215,444.51
3,248,848.37 2,797,619.22 2,211,021.71
3,242,313.06 2,791,991.59 2,206,574.07
3,235,741.05 2,786,332.36 2,202,101.45
3,229,132.13 2,780,641.35 2,197,603.71
3,222,486.10 2,774,918.38 2,193,080.72
3,215,802.75 2,769,163.27 2,188,532.32
3,209,081.86 2,763,375.84 2,183,958.39
3,202,323.23 2,757,555.91 2,179,358.76
3,195,526.64 2,751,703.29 2,174,733.31
3,188,691.89 2,745,817.81 2,170,081.88
3,181,818.75 2,739,899.27 2,165,404.33
3,174,907.01 2,733,947.50 2,160,700.51
3,167,956.46 2,727,962.30 2,155,970.27
3,160,966.88 2,721,943.50 2,151,213.47
3,153,938.04 2,715,890.89 2,146,429.96
3,146,869.73 2,709,804.29 2,141,619.58
3,139,761.73 2,703,683.51 2,136,782.19
3,132,613.80 2,697,528.35 2,131,917.63
3,125,425.74 2,691,338.63 2,127,025.75
3,118,197.31 2,685,114.15 2,122,106.41
3,110,928.29 2,678,854.71 2,117,159.43
3,103,618.44 2,672,560.13 2,112,184.68
3,096,267.55 2,666,230.19 2,107,181.98
3,088,875.37 2,659,864.70 2,102,151.20
3,081,441.68 2,653,463.47 2,097,092.16
3,073,966.24 2,647,026.29 2,092,004.71
3,066,448.82 2,640,552.96 2,086,888.69
3,058,889.19 2,634,043.27 2,081,743.94
3,051,287.10 2,627,497.03 2,076,570.29
3,043,642.32 2,620,914.03 2,071,367.60
3,035,954.61 2,614,294.05 2,066,135.68
3,028,223.72 2,607,636.90 2,060,874.39
3,020,449.42 2,600,942.37 2,055,583.54
3,012,631.46 2,594,210.23 2,050,262.99
3,004,769.60 2,587,440.30 2,044,912.55
2,996,863.58 2,580,632.34 2,039,532.07
2,988,913.17 2,573,786.15 2,034,121.37
2,980,918.11 2,566,901.52 2,028,680.29
2,972,878.15 2,559,978.22 2,023,208.65
2,964,793.04 2,553,016.04 2,017,706.28
2,956,662.52 2,546,014.76 2,012,173.01
2,948,486.34 2,538,974.16 2,006,608.67
2,940,264.25 2,531,894.03 2,001,013.08
2,931,995.99 2,524,774.14 1,995,386.07
2,923,681.29 2,517,614.26 1,989,727.45
</TABLE>
Page 26
<PAGE>
<TABLE>
<CAPTION>
BALANCE
68 69 70 74 75 76
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
CA CA CA CA CT ID
- ------------------------------------------------------------------------------------------------------------------------------------
4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3,806,112.29 3,320,225.64 2,672,377.17 2,753,358.08 2,348,452.34 3,239,244.72
3,795,134.73 3,310,649.46 2,664,669.51 2,745,416.86 2,341,678.95 3,229,902.11
3,784,095.51 3,301,019.51 2,656,918.57 2,737,431.05 2,334,867.51 3,220,507.03
3,772,994.30 3,291,335.47 2,649,124.10 2,729,400.38 2,328,017.83 3,211,059.19
3,761,830.75 3,281,597.05 2,641,285.86 2,721,324.62 2,321,129.68 3,201,558.30
3,750,604.50 3,271,803.95 2,633,403.61 2,713,203.51 2,314,202.85 3,192,004.04
3,739,315.21 3,261,955.84 2,625,477.08 2,705,036.78 2,307,237.12 3,182,396.14
3,727,962.52 3,252,052.43 2,617,506.04 2,696,824.20 2,300,232.27 3,172,734.27
3,716,546.08 3,242,093.41 2,609,490.24 2,688,565.50 2,293,188.08 3,163,018.15
3,705,065.52 3,232,078.45 2,601,429.42 2,680,260.41 2,286,104.33 3,153,247.46
3,693,520.49 3,222,007.26 2,593,323.34 2,671,908.69 2,278,980.80 3,143,421.91
3,681,910.63 3,211,879.50 2,585,171.73 2,663,510.06 2,271,817.27 3,133,541.17
3,670,235.57 3,201,694.87 2,576,974.34 2,655,064.27 2,264,613.50 3,123,604.94
3,658,494.94 3,191,453.05 2,568,730.92 2,646,571.05 2,257,369.29 3,113,612.92
3,646,688.37 3,181,153.70 2,560,441.20 2,638,030.13 2,250,084.38 3,103,564.78
3,634,815.51 3,170,796.52 2,552,104.94 2,629,441.25 2,242,758.57 3,093,460.21
3,622,875.97 3,160,381.18 2,543,721.85 2,620,804.13 2,235,391.62 3,083,298.90
3,610,869.37 3,149,907.34 2,535,291.69 2,612,118.51 2,227,983.30 3,073,080.52
3,598,795.35 3,139,374.69 2,526,814.19 2,603,384.11 2,220,533.37 3,062,804.76
3,586,653.53 3,128,782.88 2,518,289.07 2,594,600.66 2,213,041.61 3,052,471.29
3,574,443.52 3,118,131.60 2,509,716.08 2,585,767.89 2,205,507.77 3,042,079.79
3,562,164.94 3,107,420.49 2,501,094.95 2,576,885.51 2,197,931.62 3,031,629.93
3,549,817.40 3,096,649.24 2,492,425.40 2,567,953.25 2,190,312.93 3,021,121.39
3,537,400.52 3,085,817.49 2,483,707.17 2,558,970.83 2,182,651.45 3,010,553.84
3,524,913.92 3,074,924.92 2,474,939.98 2,549,937.96 2,174,946.95 2,999,926.94
3,512,357.19 3,063,971.18 2,466,123.55 2,540,854.37 2,167,199.18 2,989,240.36
3,499,729.94 3,052,955.92 2,457,257.60 2,531,719.76 2,159,407.90 2,978,493.76
3,487,031.78 3,041,878.80 2,448,341.87 2,522,533.86 2,151,572.86 2,967,686.82
3,474,262.31 3,030,739.47 2,439,376.07 2,513,296.37 2,143,693.83 2,956,819.18
3,461,421.13 3,019,537.59 2,430,359.92 2,504,007.00 2,135,770.55 2,945,890.51
3,448,507.83 3,008,272.80 2,421,293.14 2,494,665.47 2,127,802.77 2,934,900.47
3,435,522.01 2,996,944.75 2,412,175.44 2,485,271.47 2,119,790.24 2,923,848.72
3,422,463.27 2,985,553.08 2,403,006.53 2,475,824.72 2,111,732.72 2,912,734.89
3,409,331.20 2,974,097.44 2,393,786.14 2,466,324.92 2,103,629.95 2,901,558.66
3,396,125.37 2,962,577.47 2,384,513.96 2,456,771.77 2,095,481.68 2,890,319.66
3,382,845.39 2,950,992.80 2,375,189.71 2,447,164.97 2,087,287.64 2,879,017.54
3,369,490.82 2,939,343.07 2,365,813.10 2,437,504.22 2,079,047.59 2,867,651.95
3,356,061.26 2,927,627.92 2,356,383.84 2,427,789.22 2,070,761.27 2,856,222.54
3,342,556.28 2,915,846.98 2,346,901.62 2,418,019.66 2,062,428.41 2,844,728.94
3,328,975.46 2,903,999.88 2,337,366.14 2,408,195.24 2,054,048.75 2,833,170.79
3,315,318.37 2,892,086.25 2,327,777.12 2,398,315.64 2,045,622.04 2,821,547.74
3,301,584.59 2,880,105.72 2,318,134.25 2,388,380.56 2,037,148.00 2,809,859.41
3,287,773.68 2,868,057.90 2,308,437.23 2,378,389.69 2,028,626.37 2,798,105.44
3,273,885.21 2,855,942.43 2,298,685.74 2,368,342.71 2,020,056.89 2,786,285.46
3,259,918.74 2,843,758.91 2,288,879.50 2,358,239.31 2,011,439.28 2,774,399.11
3,245,873.84 2,831,506.98 2,279,018.19 2,348,079.16 2,002,773.28 2,762,446.00
3,231,750.07 2,819,186.24 2,269,101.49 2,337,861.97 1,994,058.61 2,750,425.77
3,217,546.98 2,806,796.31 2,259,129.11 2,327,587.39 1,985,295.00 2,738,338.03
3,203,264.12 2,794,336.80 2,249,100.72 2,317,255.11 1,976,482.18 2,726,182.41
3,188,901.06 2,781,807.32 2,239,016.02 2,306,864.81 1,967,619.86 2,713,958.53
3,174,457.34 2,769,207.48 2,228,874.68 2,296,416.16 1,958,707.78 2,701,666.00
3,159,932.50 2,756,536.87 2,218,676.39 2,285,908.83 1,949,745.64 2,689,304.43
3,145,326.10 2,743,795.12 2,208,420.82 2,275,342.49 1,940,733.18 2,676,873.45
3,130,637.66 2,730,981.80 2,198,107.67 2,264,716.82 1,931,670.11 2,664,372.65
3,115,866.74 2,718,096.53 2,187,736.59 2,254,031.47 1,922,556.13 2,651,801.66
3,101,012.87 2,705,138.90 2,177,307.28 2,243,286.11 1,913,390.98 2,639,160.06
3,086,075.58 2,692,108.50 2,166,819.39 2,232,480.41 1,904,174.35 2,626,447.47
3,071,054.41 2,679,004.92 2,156,272.61 2,221,614.03 1,894,905.97 2,613,663.50
3,055,948.88 2,665,827.76 2,145,666.59 2,210,686.63 1,885,585.53 2,600,807.72
<CAPTION>
77 78 79 80 81 82 83
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD CARTERET LAS VEGAS
KY KY MI NH NH NJ NV
- ------------------------------------------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,862,565.68 1,684,407.44 2,307,961.87 1,660,112.23 1,903,056.15 3,482,187.47 4,049,055.02
1,857,193.68 1,679,549.28 2,301,305.26 1,655,324.15 1,897,567.36 3,472,144.16 4,037,376.76
1,851,791.51 1,674,663.84 2,294,611.27 1,650,509.17 1,892,047.76 3,462,044.45 4,025,632.91
1,846,359.00 1,669,750.97 2,287,879.68 1,645,667.16 1,886,497.15 3,451,888.03 4,013,823.12
1,840,895.99 1,664,810.50 2,281,110.29 1,640,797.95 1,880,915.37 3,441,674.57 4,001,947.00
1,835,402.29 1,659,842.29 2,274,302.89 1,635,901.40 1,875,302.25 3,431,403.75 3,990,004.19
1,829,877.75 1,654,846.17 2,267,457.26 1,630,977.35 1,869,657.61 3,421,075.25 3,977,994.30
1,824,322.17 1,649,822.00 2,260,573.18 1,626,025.64 1,863,981.26 3,410,688.75 3,965,916.98
1,818,735.40 1,644,769.62 2,253,650.44 1,621,046.13 1,858,273.04 3,400,243.92 3,953,771.83
1,813,117.26 1,639,688.86 2,246,688.83 1,616,038.66 1,852,532.76 3,389,740.43 3,941,558.47
1,807,467.56 1,634,579.57 2,239,688.12 1,611,003.06 1,846,760.25 3,379,177.96 3,929,276.53
1,801,786.14 1,629,441.59 2,232,648.09 1,605,939.18 1,840,955.31 3,368,556.17 3,916,925.61
1,796,072.81 1,624,274.75 2,225,568.53 1,600,846.87 1,835,117.78 3,357,874.73 3,904,505.33
1,790,327.39 1,619,078.90 2,218,449.21 1,595,725.96 1,829,247.47 3,347,133.30 3,892,015.30
1,784,549.72 1,613,853.86 2,211,289.91 1,590,576.29 1,823,344.19 3,336,331.55 3,879,455.13
1,778,739.59 1,608,599.49 2,204,090.41 1,585,397.70 1,817,407.75 3,325,469.15 3,866,824.42
1,772,896.83 1,603,315.61 2,196,850.47 1,580,190.03 1,811,437.98 3,314,545.74 3,854,122.78
1,767,021.27 1,598,002.05 2,189,569.88 1,574,953.12 1,805,434.69 3,303,560.98 3,841,349.82
1,761,112.70 1,592,658.65 2,182,248.40 1,569,686.79 1,799,397.68 3,292,514.54 3,828,505.12
1,755,170.96 1,587,285.25 2,174,885.80 1,564,390.89 1,793,326.76 3,281,406.06 3,815,588.28
1,749,195.85 1,581,881.67 2,167,481.86 1,559,065.25 1,787,221.76 3,270,235.20 3,802,598.91
1,743,187.18 1,576,447.74 2,160,036.33 1,553,709.70 1,781,082.47 3,259,001.61 3,789,536.59
1,737,144.77 1,570,983.30 2,152,549.00 1,548,324.07 1,774,908.70 3,247,704.93 3,776,400.92
1,731,068.42 1,565,488.17 2,145,019.62 1,542,908.20 1,768,700.26 3,236,344.81 3,763,191.48
1,724,957.96 1,559,962.18 2,137,447.95 1,537,461.92 1,762,456.96 3,224,920.89 3,749,907.85
1,718,813.17 1,554,405.16 2,129,833.76 1,531,985.05 1,756,178.59 3,213,432.82 3,736,549.63
1,712,633.88 1,548,816.93 2,122,176.81 1,526,477.42 1,749,864.97 3,201,880.23 3,723,116.39
1,706,419.89 1,543,197.31 2,114,476.86 1,520,938.86 1,743,515.89 3,190,262.77 3,709,607.71
1,700,171.00 1,537,546.14 2,106,733.67 1,515,369.20 1,737,131.15 3,178,580.06 3,696,023.17
1,693,887.01 1,531,863.24 2,098,947.00 1,509,768.26 1,730,710.56 3,166,831.75 3,682,362.34
1,687,567.74 1,526,148.42 2,091,116.59 1,504,135.87 1,724,253.91 3,155,017.46 3,668,624.79
1,681,212.98 1,520,401.50 2,083,242.22 1,498,471.85 1,717,761.01 3,143,136.82 3,654,810.10
1,674,822.53 1,514,622.31 2,075,323.62 1,492,776.02 1,711,231.64 3,131,189.46 3,640,917.82
1,668,396.20 1,508,810.67 2,067,360.55 1,487,048.20 1,704,665.60 3,119,175.01 3,626,947.53
1,661,933.77 1,502,966.39 2,059,352.76 1,481,288.21 1,698,062.69 3,107,093.09 3,612,898.78
1,655,435.05 1,497,089.29 2,051,300.00 1,475,495.88 1,691,422.69 3,094,943.32 3,598,771.14
1,648,899.84 1,491,179.18 2,043,202.02 1,469,671.02 1,684,745.41 3,082,725.31 3,584,564.16
1,642,327.93 1,485,235.88 2,035,058.56 1,463,813.45 1,678,030.63 3,070,438.69 3,570,277.39
1,635,719.11 1,479,259.21 2,026,869.37 1,457,922.98 1,671,278.14 3,058,083.07 3,555,910.40
1,629,073.17 1,473,248.97 2,018,634.19 1,451,999.43 1,664,487.73 3,045,658.07 3,541,462.72
1,622,389.92 1,467,204.98 2,010,352.77 1,446,042.62 1,657,659.19 3,033,163.29 3,526,933.90
1,615,669.13 1,461,127.05 2,002,024.83 1,440,052.35 1,650,792.29 3,020,598.34 3,512,323.49
1,608,910.60 1,455,014.99 1,993,650.13 1,434,028.45 1,643,886.84 3,007,962.82 3,497,631.04
1,602,114.11 1,448,868.60 1,985,228.40 1,427,970.71 1,636,942.60 2,995,256.35 3,482,856.07
1,595,279.46 1,442,687.70 1,976,759.37 1,421,878.96 1,629,959.37 2,982,478.52 3,467,998.13
1,588,406.42 1,436,472.08 1,968,242.78 1,415,752.99 1,622,936.92 2,969,628.93 3,453,056.75
1,581,494.79 1,430,221.56 1,959,678.36 1,409,592.62 1,615,875.03 2,956,707.19 3,438,031.46
1,574,544.34 1,423,935.93 1,951,065.85 1,403,397.66 1,608,773.49 2,943,712.87 3,422,921.79
1,567,554.86 1,417,615.01 1,942,404.97 1,397,167.91 1,601,632.06 2,930,645.58 3,407,727.27
1,560,526.12 1,411,258.59 1,933,695.45 1,390,903.17 1,594,450.53 2,917,504.91 3,392,447.42
1,553,457.92 1,404,866.47 1,924,937.03 1,384,603.25 1,587,228.67 2,904,290.44 3,377,081.76
1,546,350.02 1,398,438.46 1,916,129.41 1,378,267.95 1,579,966.25 2,891,001.76 3,361,629.81
1,539,202.20 1,391,974.35 1,907,272.33 1,371,897.08 1,572,663.05 2,877,638.45 3,346,091.08
1,532,014.24 1,385,473.93 1,898,365.52 1,365,490.42 1,565,318.83 2,864,200.10 3,330,465.09
1,524,785.92 1,378,937.01 1,889,408.68 1,359,047.79 1,557,933.37 2,850,686.28 3,314,751.35
1,517,517.00 1,372,363.38 1,880,401.55 1,352,568.97 1,550,506.44 2,837,096.57 3,298,949.36
1,510,207.27 1,365,752.84 1,871,343.83 1,346,053.78 1,543,037.79 2,823,430.54 3,283,058.63
1,502,856.48 1,359,105.17 1,862,235.24 1,339,501.99 1,535,527.20 2,809,687.77 3,267,078.66
1,495,464.41 1,352,420.17 1,853,075.51 1,332,913.41 1,527,974.44 2,795,867.82 3,251,008.95
<CAPTION>
84 85 86
-- -- --
RITE AID RITE AID RITE AID
- ---------------------------------------------------------
BRENTWOOD BROOKLYN CATSKILL
NY NY NY
- ---------------------------------------------------------
3,576,285.69 3,079,579.11 2,433,860.98
- ---------------------------------------------------------
6.739% 6.739% 6.739%
- ---------------------------------------------------------
10TH 10TH 10TH
- ---------------------------------------------------------
<S> <C> <C>
2,915,319.89 2,510,414.17 1,984,037.06
2,906,911.54 2,503,173.65 1,978,314.71
2,898,455.97 2,495,892.46 1,972,560.23
2,889,952.92 2,488,570.39 1,966,773.43
2,881,402.11 2,481,207.19 1,960,954.13
2,872,803.29 2,473,802.65 1,955,102.15
2,864,156.17 2,466,356.52 1,949,217.31
2,855,460.50 2,458,868.58 1,943,299.42
2,846,715.99 2,451,338.59 1,937,348.29
2,837,922.37 2,443,766.31 1,931,363.75
2,829,079.37 2,436,151.50 1,925,345.60
2,820,186.71 2,428,493.93 1,919,293.65
2,811,244.11 2,420,793.36 1,913,207.71
2,802,251.28 2,413,049.54 1,907,087.60
2,793,207.96 2,405,262.23 1,900,933.11
2,784,113.85 2,397,431.20 1,894,744.07
2,774,968.67 2,389,556.18 1,888,520.26
2,765,772.13 2,381,636.94 1,882,261.51
2,756,523.95 2,373,673.23 1,875,967.60
2,747,223.83 2,365,664.79 1,869,638.36
2,737,871.48 2,357,611.38 1,863,273.56
2,728,466.61 2,349,512.74 1,856,873.03
2,719,008.92 2,341,368.62 1,850,436.55
2,709,498.12 2,333,178.77 1,843,963.92
2,699,933.91 2,324,942.92 1,837,454.94
2,690,315.99 2,316,660.82 1,830,909.41
2,680,644.06 2,308,332.21 1,824,327.13
2,670,917.81 2,299,956.83 1,817,707.87
2,661,136.94 2,291,534.42 1,811,051.45
2,651,301.14 2,283,064.70 1,804,357.64
2,641,410.10 2,274,547.42 1,797,626.24
2,631,463.52 2,265,982.31 1,790,857.04
2,621,461.08 2,257,369.10 1,784,049.83
2,611,402.47 2,248,707.52 1,777,204.38
2,601,287.37 2,239,997.30 1,770,320.50
2,591,115.47 2,231,238.16 1,763,397.95
2,580,886.44 2,222,429.83 1,756,436.53
2,570,599.97 2,213,572.04 1,749,436.02
2,560,255.73 2,204,664.50 1,742,396.19
2,549,853.40 2,195,706.94 1,735,316.82
2,539,392.65 2,186,699.07 1,728,197.70
2,528,873.16 2,177,640.62 1,721,038.60
2,518,294.59 2,168,531.29 1,713,839.30
2,507,656.61 2,159,370.82 1,706,599.57
2,496,958.89 2,150,158.89 1,699,319.17
2,486,201.10 2,140,895.24 1,691,997.90
2,475,382.89 2,131,579.56 1,684,635.51
2,464,503.92 2,122,211.56 1,677,231.77
2,453,563.87 2,112,790.96 1,669,786.45
2,442,562.37 2,103,317.45 1,662,299.32
2,431,499.10 2,093,790.74 1,654,770.15
2,420,373.69 2,084,210.53 1,647,198.69
2,409,185.81 2,074,576.52 1,639,584.72
2,397,935.09 2,064,888.41 1,631,927.98
2,386,621.20 2,055,145.88 1,624,228.25
2,375,243.76 2,045,348.65 1,616,485.27
2,363,802.44 2,035,496.40 1,608,698.81
2,352,296.86 2,025,588.82 1,600,868.63
2,340,726.66 2,015,625.60 1,592,994.47
</TABLE>
Page 27
<PAGE>
<TABLE>
<CAPTION>
BALANCE
68 69 70 74 75 76
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
CA CA CA CA CT ID
- ------------------------------------------------------------------------------------------------------------------------------------
4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3,040,758.52 2,652,576.59 2,135,001.02 2,199,697.85 1,876,212.76 2,587,879.76
3,025,482.85 2,639,251.01 2,124,275.55 2,188,647.37 1,866,787.35 2,574,879.19
3,010,121.40 2,625,850.59 2,113,489.85 2,177,534.83 1,857,309.00 2,561,805.61
2,994,673.68 2,612,374.92 2,102,643.57 2,166,359.88 1,847,777.43 2,548,658.61
2,979,139.21 2,598,823.57 2,091,736.39 2,155,122.18 1,838,192.33 2,535,437.79
2,963,517.50 2,585,196.12 2,080,767.95 2,143,821.36 1,828,553.40 2,522,142.71
2,947,808.06 2,571,492.14 2,069,737.92 2,132,457.09 1,818,860.34 2,508,772.98
2,932,010.39 2,557,711.20 2,058,645.94 2,121,028.99 1,809,112.85 2,495,328.16
2,916,124.02 2,543,852.87 2,047,491.68 2,109,536.72 1,799,310.62 2,481,807.83
2,900,148.42 2,529,916.72 2,036,274.77 2,097,979.90 1,789,453.34 2,468,211.58
2,884,083.11 2,515,902.30 2,024,994.87 2,086,358.19 1,779,540.70 2,454,538.98
2,867,927.58 2,501,809.18 2,013,651.62 2,074,671.21 1,769,572.39 2,440,789.59
2,851,681.33 2,487,636.91 2,002,244.67 2,062,918.60 1,759,548.10 2,426,962.99
2,835,343.83 2,473,385.05 1,990,773.67 2,051,099.98 1,749,467.52 2,413,058.74
2,818,914.59 2,459,053.16 1,979,238.24 2,039,215.00 1,739,330.33 2,399,076.40
2,802,393.09 2,444,640.79 1,967,638.03 2,027,263.27 1,729,136.21 2,385,015.54
2,785,778.80 2,430,147.47 1,955,972.68 2,015,244.42 1,718,884.84 2,370,875.72
2,769,071.21 2,415,572.76 1,944,241.81 2,003,158.08 1,708,575.90 2,356,656.50
2,752,269.79 2,400,916.21 1,932,445.07 1,991,003.86 1,698,209.07 2,342,357.42
2,735,374.02 2,386,177.34 1,920,582.08 1,978,781.39 1,687,784.02 2,327,978.04
2,718,383.36 2,371,355.71 1,908,652.47 1,966,490.27 1,677,300.42 2,313,517.90
2,701,297.29 2,356,450.84 1,896,655.86 1,954,130.14 1,666,757.95 2,298,976.56
2,684,115.27 2,341,462.26 1,884,591.89 1,941,700.59 1,656,156.28 2,284,353.56
2,666,836.75 2,326,389.51 1,872,460.16 1,929,201.23 1,645,495.06 2,269,648.44
2,649,461.20 2,311,232.12 1,860,260.31 1,916,631.68 1,634,773.98 2,254,860.74
2,631,988.07 2,295,989.60 1,847,991.94 1,903,991.55 1,623,992.69 2,239,989.99
2,614,416.82 2,280,661.49 1,835,654.67 1,891,280.43 1,613,150.85 2,225,035.73
2,596,746.89 2,265,247.29 1,823,248.12 1,878,497.92 1,602,248.13 2,209,997.49
2,578,977.73 2,249,746.53 1,810,771.90 1,865,643.64 1,591,284.18 2,194,874.80
2,561,108.78 2,234,158.73 1,798,225.61 1,852,717.16 1,580,258.65 2,179,667.18
2,543,139.48 2,218,483.38 1,785,608.87 1,839,718.09 1,569,171.21 2,164,374.16
2,525,069.26 2,202,720.00 1,772,921.27 1,826,646.02 1,558,021.51 2,148,995.25
2,506,897.57 2,186,868.10 1,760,162.42 1,813,500.54 1,546,809.18 2,133,529.98
2,488,623.83 2,170,927.18 1,747,331.92 1,800,281.24 1,535,533.90 2,117,977.86
2,470,247.47 2,154,896.73 1,734,429.37 1,786,987.70 1,524,195.29 2,102,338.40
2,451,767.91 2,138,776.26 1,721,454.35 1,773,619.50 1,512,793.01 2,086,611.11
2,433,184.57 2,122,565.26 1,708,406.47 1,760,176.23 1,501,326.69 2,070,795.50
2,414,496.87 2,106,263.23 1,695,285.32 1,746,657.47 1,489,795.98 2,054,891.08
2,395,704.22 2,089,869.64 1,682,090.48 1,733,062.79 1,478,200.52 2,038,897.33
2,376,806.03 2,073,383.99 1,668,821.54 1,719,391.76 1,466,539.93 2,022,813.77
2,357,801.72 2,056,805.76 1,655,478.08 1,705,643.96 1,454,813.87 2,006,639.88
2,338,690.68 2,040,134.43 1,642,059.69 1,691,818.95 1,443,021.95 1,990,375.17
2,319,472.32 2,023,369.47 1,628,565.94 1,677,916.30 1,431,163.81 1,974,019.12
2,300,146.03 2,006,510.37 1,614,996.42 1,663,935.58 1,419,239.08 1,957,571.21
2,280,711.20 1,989,556.59 1,601,350.69 1,649,876.34 1,407,247.38 1,941,030.93
2,261,167.24 1,972,507.59 1,587,628.33 1,635,738.15 1,395,188.34 1,924,397.77
2,241,513.52 1,955,362.86 1,573,828.90 1,621,520.57 1,383,061.57 1,907,671.19
2,221,749.42 1,938,121.84 1,559,951.99 1,607,223.14 1,370,866.70 1,890,850.69
2,201,874.34 1,920,784.00 1,545,997.14 1,592,845.41 1,358,603.35 1,873,935.72
2,181,887.64 1,903,348.79 1,531,963.92 1,578,386.95 1,346,271.13 1,856,925.76
2,161,788.69 1,885,815.67 1,517,851.89 1,563,847.29 1,333,869.66 1,839,820.28
2,141,576.88 1,868,184.09 1,503,660.61 1,549,225.97 1,321,398.54 1,822,618.73
2,121,251.56 1,850,453.49 1,489,389.64 1,534,522.55 1,308,857.38 1,805,320.58
2,100,812.09 1,832,623.32 1,475,038.53 1,519,736.55 1,296,245.80 1,787,925.29
2,080,257.84 1,814,693.01 1,460,606.82 1,504,867.52 1,283,563.39 1,770,432.31
2,059,588.17 1,796,662.02 1,446,094.06 1,489,914.98 1,270,809.75 1,752,841.10
2,038,802.41 1,778,529.76 1,431,499.80 1,474,878.48 1,257,984.50 1,735,151.09
2,017,899.92 1,760,295.68 1,416,823.59 1,459,757.53 1,245,087.22 1,717,361.74
1,996,880.05 1,741,959.20 1,402,064.95 1,444,551.66 1,232,117.51 1,699,472.49
<CAPTION>
77 78 79 80 81 82 83
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD CARTERET LAS VEGAS
KY KY MI NH NH NJ NV
- ------------------------------------------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,488,030.83 1,345,697.62 1,843,864.33 1,326,287.83 1,520,379.26 2,781,970.25 3,234,848.99
1,480,555.50 1,338,937.33 1,834,601.42 1,319,625.04 1,512,741.43 2,767,994.65 3,218,598.28
1,473,038.20 1,332,139.06 1,825,286.50 1,312,924.83 1,505,060.70 2,753,940.55 3,202,256.32
1,465,478.67 1,325,302.63 1,815,919.26 1,306,187.00 1,497,336.84 2,739,807.53 3,185,822.57
1,457,876.70 1,318,427.79 1,806,499.42 1,299,411.33 1,489,569.60 2,725,595.15 3,169,296.54
1,450,232.03 1,311,514.35 1,797,026.68 1,292,597.61 1,481,758.75 2,711,302.94 3,152,677.70
1,442,544.43 1,304,562.09 1,787,500.75 1,285,745.62 1,473,904.03 2,696,930.48 3,135,965.54
1,434,813.66 1,297,570.78 1,777,921.31 1,278,855.15 1,466,005.20 2,682,477.30 3,119,159.51
1,427,039.47 1,290,540.22 1,768,288.08 1,271,925.99 1,458,062.01 2,667,942.96 3,102,259.11
1,419,221.63 1,283,470.16 1,758,600.75 1,264,957.92 1,450,074.21 2,653,326.99 3,085,263.81
1,411,359.88 1,276,360.41 1,748,859.02 1,257,950.71 1,442,041.56 2,638,628.94 3,068,173.05
1,403,453.98 1,269,210.73 1,739,062.58 1,250,904.15 1,433,963.79 2,623,848.35 3,050,986.32
1,395,503.69 1,262,020.89 1,729,211.13 1,243,818.02 1,425,840.66 2,608,984.76 3,033,703.07
1,387,508.74 1,254,790.68 1,719,304.35 1,236,692.09 1,417,671.92 2,594,037.69 3,016,322.76
1,379,468.90 1,247,519.87 1,709,341.94 1,229,526.15 1,409,457.30 2,579,006.68 2,998,844.85
1,371,383.91 1,240,208.22 1,699,323.58 1,222,319.96 1,401,196.54 2,563,891.27 2,981,268.78
1,363,253.51 1,232,855.51 1,689,248.95 1,215,073.31 1,392,889.40 2,548,690.96 2,963,594.01
1,355,077.46 1,225,461.51 1,679,117.76 1,207,785.96 1,384,535.60 2,533,405.30 2,945,819.98
1,346,855.49 1,218,025.99 1,668,929.66 1,200,457.68 1,376,134.90 2,518,033.79 2,927,946.13
1,338,587.34 1,210,548.71 1,658,684.35 1,193,088.25 1,367,687.01 2,502,575.96 2,909,971.91
1,330,272.77 1,203,029.44 1,648,381.51 1,185,677.44 1,359,191.68 2,487,031.32 2,891,896.75
1,321,911.50 1,195,467.94 1,638,020.80 1,178,225.00 1,350,648.65 2,471,399.38 2,873,720.08
1,313,503.27 1,187,863.98 1,627,601.91 1,170,730.72 1,342,057.63 2,455,679.66 2,855,441.33
1,305,047.83 1,180,217.32 1,617,124.52 1,163,194.35 1,333,418.38 2,439,871.65 2,837,059.93
1,296,544.90 1,172,527.71 1,606,588.28 1,155,615.65 1,324,730.60 2,423,974.88 2,818,575.31
1,287,994.22 1,164,794.92 1,595,992.87 1,147,994.40 1,315,994.04 2,407,988.83 2,799,986.88
1,279,395.52 1,157,018.71 1,585,337.96 1,140,330.34 1,307,208.41 2,391,913.00 2,781,294.06
1,270,748.53 1,149,198.82 1,574,623.21 1,132,623.25 1,298,373.44 2,375,746.89 2,762,496.26
1,262,052.98 1,141,335.02 1,563,848.29 1,124,872.87 1,289,488.86 2,359,490.00 2,743,592.90
1,253,308.60 1,133,427.06 1,553,012.87 1,117,078.97 1,280,554.39 2,343,141.82 2,724,583.38
1,244,515.11 1,125,474.69 1,542,116.59 1,109,241.30 1,271,569.74 2,326,701.82 2,705,467.11
1,235,672.24 1,117,477.65 1,531,159.12 1,101,359.62 1,262,534.63 2,310,169.50 2,686,243.48
1,226,779.71 1,109,435.71 1,520,140.11 1,093,433.67 1,253,448.79 2,293,544.34 2,666,911.90
1,217,837.24 1,101,348.61 1,509,059.22 1,085,463.21 1,244,311.92 2,276,825.81 2,647,471.75
1,208,844.55 1,093,216.09 1,497,916.11 1,077,447.99 1,235,123.73 2,260,013.39 2,627,922.43
1,199,801.36 1,085,037.90 1,486,710.42 1,069,387.76 1,225,883.95 2,243,106.56 2,608,263.32
1,190,707.39 1,076,813.78 1,475,441.79 1,061,282.26 1,216,592.28 2,226,104.78 2,588,493.82
1,181,562.34 1,068,543.48 1,464,109.89 1,053,131.25 1,207,248.43 2,209,007.53 2,568,613.29
1,172,365.94 1,060,226.73 1,452,714.35 1,044,934.45 1,197,852.11 2,191,814.26 2,548,621.11
1,163,117.89 1,051,863.27 1,441,254.81 1,036,691.63 1,188,403.02 2,174,524.43 2,528,516.66
1,153,817.91 1,043,452.85 1,429,730.92 1,028,402.52 1,178,900.86 2,157,137.51 2,508,299.31
1,144,465.70 1,034,995.20 1,418,142.31 1,020,066.86 1,169,345.34 2,139,652.94 2,487,968.42
1,135,060.96 1,026,490.05 1,406,488.62 1,011,684.38 1,159,736.16 2,122,070.18 2,467,523.36
1,125,603.42 1,017,937.14 1,394,769.48 1,003,254.83 1,150,073.01 2,104,388.69 2,446,963.48
1,116,092.76 1,009,336.19 1,382,984.54 994,777.95 1,140,355.60 2,086,607.89 2,426,288.13
1,106,528.69 1,000,686.95 1,371,133.41 986,253.45 1,130,583.62 2,068,727.25 2,405,496.68
1,096,910.91 991,989.13 1,359,215.72 977,681.09 1,120,756.76 2,050,746.18 2,384,588.47
1,087,239.12 983,242.46 1,347,231.11 969,060.58 1,110,874.71 2,032,664.14 2,363,562.84
1,077,513.01 974,446.68 1,335,179.20 960,391.66 1,100,937.17 2,014,480.55 2,342,419.14
1,067,732.29 965,601.50 1,323,059.60 951,674.06 1,090,943.82 1,996,194.85 2,321,156.69
1,057,896.63 956,706.65 1,310,871.94 942,907.51 1,080,894.35 1,977,806.46 2,299,774.84
1,048,005.74 947,761.84 1,298,615.84 934,091.72 1,070,788.44 1,959,314.80 2,278,272.92
1,038,059.31 938,766.81 1,286,290.91 925,226.42 1,060,625.78 1,940,719.30 2,256,650.24
1,028,057.02 929,721.25 1,273,896.77 916,311.34 1,050,406.05 1,922,019.36 2,234,906.13
1,017,998.56 920,624.90 1,261,433.02 907,346.19 1,040,128.92 1,903,214.41 2,213,039.91
1,007,883.61 911,477.47 1,248,899.28 898,330.70 1,029,794.08 1,884,303.86 2,191,050.89
997,711.85 902,278.66 1,236,295.15 889,264.57 1,019,401.20 1,865,287.10 2,168,938.39
987,482.98 893,028.20 1,223,620.23 880,147.53 1,008,949.96 1,846,163.56 2,146,701.71
977,196.66 883,725.79 1,210,874.14 870,979.29 998,440.03 1,826,932.61 2,124,340.14
<CAPTION>
84 85 86
-- -- --
RITE AID RITE AID RITE AID
- ---------------------------------------------------------
BRENTWOOD BROOKLYN CATSKILL
NY NY NY
- ---------------------------------------------------------
3,576,285.69 3,079,579.11 2,433,860.98
- ---------------------------------------------------------
6.739% 6.739% 6.739%
- ---------------------------------------------------------
10TH 10TH 10TH
- ---------------------------------------------------------
<S> <C> <C>
2,329,091.49 2,005,606.42 1,585,076.09
2,317,390.98 1,995,530.98 1,577,113.24
2,305,624.77 1,985,398.96 1,569,105.68
2,293,792.47 1,975,210.04 1,561,053.15
2,281,893.73 1,964,963.90 1,552,955.39
2,269,928.16 1,954,660.22 1,544,812.16
2,257,895.40 1,944,298.68 1,536,623.20
2,245,795.06 1,933,878.95 1,528,388.25
2,233,626.77 1,923,400.70 1,520,107.05
2,221,390.15 1,912,863.61 1,511,779.35
2,209,084.81 1,902,267.34 1,503,404.88
2,196,710.36 1,891,611.57 1,494,983.38
2,184,266.42 1,880,895.95 1,486,514.59
2,171,752.59 1,870,120.16 1,477,998.24
2,159,168.49 1,859,283.85 1,469,434.06
2,146,513.73 1,848,386.69 1,460,821.78
2,133,787.89 1,837,428.33 1,452,161.15
2,120,990.59 1,826,408.43 1,443,451.87
2,108,121.42 1,815,326.65 1,434,693.69
2,095,179.97 1,804,182.63 1,425,886.32
2,082,165.86 1,792,976.03 1,417,029.49
2,069,078.65 1,781,706.50 1,408,122.92
2,055,917.95 1,770,373.67 1,399,166.33
2,042,683.35 1,758,977.21 1,390,159.45
2,029,374.41 1,747,516.74 1,381,101.98
2,015,990.74 1,735,991.91 1,371,993.65
2,002,531.91 1,724,402.36 1,362,834.17
1,988,997.50 1,712,747.73 1,353,623.25
1,975,387.07 1,701,027.64 1,344,360.60
1,961,700.22 1,689,241.74 1,335,045.93
1,947,936.50 1,677,389.65 1,325,678.96
1,934,095.49 1,665,471.00 1,316,259.38
1,920,176.75 1,653,485.42 1,306,786.90
1,906,179.84 1,641,432.53 1,297,261.23
1,892,104.33 1,629,311.95 1,287,682.06
1,877,949.77 1,617,123.30 1,278,049.10
1,863,715.72 1,604,866.21 1,268,362.04
1,849,401.74 1,592,540.28 1,258,620.58
1,835,007.37 1,580,145.13 1,248,824.42
1,820,532.17 1,567,680.37 1,238,973.24
1,805,975.67 1,555,145.62 1,229,066.73
1,791,337.43 1,542,540.46 1,219,104.60
1,776,616.98 1,529,864.52 1,209,086.52
1,761,813.87 1,517,117.40 1,199,012.17
1,746,927.62 1,504,298.69 1,188,881.26
1,731,957.77 1,491,407.99 1,178,693.45
1,716,903.86 1,478,444.90 1,168,448.42
1,701,765.41 1,465,409.01 1,158,145.86
1,686,541.94 1,452,299.91 1,147,785.45
1,671,232.98 1,439,117.19 1,137,366.85
1,655,838.04 1,425,860.45 1,126,889.74
1,640,356.65 1,412,529.25 1,116,353.80
1,624,788.32 1,399,123.19 1,105,758.68
1,609,132.56 1,385,641.84 1,095,104.07
1,593,388.88 1,372,084.79 1,084,389.62
1,577,556.79 1,358,451.59 1,073,615.00
1,561,635.78 1,344,741.84 1,062,779.88
1,545,625.37 1,330,955.10 1,051,883.90
1,529,525.05 1,317,090.93 1,040,926.74
</TABLE>
Page 28
<PAGE>
<TABLE>
<CAPTION>
BALANCE
68 69 70 74 75 76
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
CA CA CA CA CT ID
- ------------------------------------------------------------------------------------------------------------------------------------
4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,975,742.14 1,723,519.74 1,387,223.44 1,429,260.40 1,219,074.97 1,681,482.77
1,954,485.52 1,704,976.73 1,372,298.57 1,413,883.27 1,205,959.18 1,663,392.03
1,933,109.52 1,686,329.58 1,357,289.89 1,398,419.79 1,192,769.74 1,645,199.69
1,911,613.48 1,667,577.72 1,342,196.93 1,382,869.46 1,179,506.22 1,626,905.19
1,889,996.73 1,648,720.55 1,327,019.20 1,367,231.80 1,166,168.22 1,608,507.95
1,868,258.57 1,629,757.48 1,311,756.24 1,351,506.33 1,152,755.32 1,590,007.39
1,846,398.34 1,610,687.91 1,296,407.56 1,335,692.54 1,139,267.09 1,571,402.93
1,824,415.35 1,591,511.26 1,280,972.69 1,319,789.95 1,125,703.12 1,552,694.00
1,802,308.90 1,572,226.91 1,265,451.14 1,303,798.05 1,112,062.97 1,533,880.00
1,780,078.31 1,552,834.26 1,249,842.42 1,287,716.34 1,098,346.22 1,514,960.35
1,757,722.87 1,533,332.71 1,234,146.05 1,271,544.32 1,084,552.44 1,495,934.44
1,735,241.89 1,513,721.64 1,218,361.53 1,255,281.48 1,070,681.19 1,476,801.69
1,712,634.66 1,494,000.44 1,202,488.37 1,238,927.31 1,056,732.05 1,457,561.49
1,689,900.47 1,474,168.49 1,186,526.06 1,222,481.30 1,042,704.57 1,438,213.24
1,667,038.61 1,454,225.16 1,170,474.11 1,205,942.94 1,028,598.32 1,418,756.34
1,644,048.36 1,434,169.84 1,154,332.02 1,189,311.69 1,014,412.84 1,399,190.17
1,620,929.00 1,414,001.89 1,138,099.28 1,172,587.05 1,000,147.71 1,379,514.12
1,597,679.81 1,393,720.68 1,121,775.37 1,155,768.48 985,802.46 1,359,727.57
1,574,300.05 1,373,325.57 1,105,359.80 1,138,855.46 971,376.65 1,339,829.90
1,550,789.00 1,352,815.93 1,088,852.03 1,121,847.47 956,869.83 1,319,820.49
1,527,145.91 1,332,191.11 1,072,251.56 1,104,743.95 942,281.54 1,299,698.72
1,503,370.05 1,311,450.46 1,055,557.87 1,087,544.39 927,611.33 1,279,463.94
1,479,460.66 1,290,593.34 1,038,770.43 1,070,248.24 912,858.73 1,259,115.52
1,455,417.01 1,269,619.08 1,021,888.71 1,052,854.96 898,023.28 1,238,652.84
1,431,238.33 1,248,527.04 1,004,912.18 1,035,363.99 883,104.52 1,218,075.24
1,406,923.86 1,227,316.55 987,840.32 1,017,774.80 868,101.98 1,197,382.07
1,382,472.85 1,205,986.95 970,672.59 1,000,086.84 853,015.18 1,176,572.70
1,357,884.53 1,184,537.56 953,408.45 982,299.54 837,843.67 1,155,646.47
1,333,158.12 1,162,967.72 936,047.35 964,412.35 822,586.95 1,134,602.71
1,308,292.86 1,141,276.74 918,588.75 946,424.71 807,244.55 1,113,440.78
1,283,287.95 1,119,463.95 901,032.12 928,336.05 791,815.99 1,092,160.01
1,258,142.62 1,097,528.66 883,376.88 910,145.81 776,300.78 1,070,759.73
1,232,856.08 1,075,470.19 865,622.50 891,853.42 760,698.45 1,049,239.27
1,207,427.53 1,053,287.84 847,768.41 873,458.30 745,008.50 1,027,597.95
1,181,856.19 1,030,980.92 829,814.06 854,959.88 729,230.43 1,005,835.10
1,156,141.23 1,008,548.73 811,758.87 836,357.57 713,363.76 983,950.03
1,130,281.87 985,990.56 793,602.30 817,650.79 697,407.98 961,942.06
1,104,277.29 963,305.71 775,343.76 798,838.96 681,362.59 939,810.50
1,078,126.66 940,493.46 756,982.68 779,921.49 665,227.10 917,554.65
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
77 78 79 80 81 82 83
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD CARTERET LAS VEGAS
KY KY MI NH NH NJ NV
- ------------------------------------------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
966,852.57 874,371.14 1,198,056.47 861,759.57 987,871.07 1,807,593.67 2,101,853.00
956,450.39 864,963.95 1,185,166.81 852,488.07 977,242.76 1,788,146.13 2,079,239.58
945,989.80 855,503.93 1,172,204.77 843,164.50 966,554.76 1,768,589.37 2,056,499.16
935,470.46 845,990.79 1,159,169.94 833,788.57 955,806.74 1,748,922.78 2,033,631.04
924,892.04 836,424.22 1,146,061.91 824,359.99 944,998.36 1,729,145.75 2,010,634.49
914,254.22 826,803.93 1,132,880.26 814,878.46 934,129.29 1,709,257.65 1,987,508.80
903,556.66 817,129.61 1,119,624.58 805,343.68 923,199.17 1,689,257.87 1,964,253.24
892,799.03 807,400.97 1,106,294.47 795,755.35 912,207.67 1,669,145.77 1,940,867.08
881,980.98 797,617.69 1,092,889.50 786,113.18 901,154.45 1,648,920.72 1,917,349.58
871,102.18 787,779.47 1,079,409.24 776,416.86 890,039.15 1,628,582.10 1,893,700.02
860,162.28 777,885.99 1,065,853.28 766,666.09 878,861.43 1,608,129.25 1,869,917.64
849,160.95 767,936.96 1,052,221.20 756,860.56 867,620.94 1,587,561.55 1,846,001.71
838,097.83 757,932.06 1,038,512.56 746,999.96 856,317.33 1,566,878.34 1,821,951.47
826,972.59 747,870.97 1,024,726.93 737,083.99 844,950.23 1,546,078.98 1,797,766.16
815,784.87 737,753.38 1,010,863.89 727,112.33 833,519.30 1,525,162.81 1,773,445.04
804,534.32 727,578.97 996,922.99 717,084.67 822,024.18 1,504,129.18 1,748,987.33
793,220.60 717,347.42 982,903.80 707,000.70 810,464.50 1,482,977.43 1,724,392.27
781,843.33 707,058.41 968,805.89 696,860.10 798,839.90 1,461,706.89 1,699,659.09
770,402.17 696,711.62 954,628.80 686,662.55 787,150.02 1,440,316.91 1,674,787.01
758,896.76 686,306.73 940,372.09 676,407.73 775,394.50 1,418,806.80 1,649,775.26
747,326.74 675,843.40 926,035.33 666,095.32 763,572.95 1,397,175.89 1,624,623.04
735,691.74 665,321.32 911,618.05 655,725.00 751,685.02 1,375,423.50 1,599,329.57
723,991.40 654,740.14 897,119.80 645,296.45 739,730.33 1,353,548.96 1,573,894.06
712,225.36 644,099.54 882,540.14 634,809.32 727,708.50 1,331,551.58 1,548,315.71
700,393.24 633,399.19 867,878.60 624,263.31 715,619.16 1,309,430.66 1,522,593.71
688,494.67 622,638.74 853,134.72 613,658.07 703,461.93 1,287,185.52 1,496,727.26
676,529.28 611,817.87 838,308.04 602,993.27 691,236.43 1,264,815.44 1,470,715.56
664,496.70 600,936.23 823,398.10 592,268.58 678,942.26 1,242,319.75 1,444,557.77
652,396.54 589,993.47 808,404.42 581,483.66 666,579.06 1,219,697.72 1,418,253.08
640,228.43 578,989.27 793,326.55 570,638.17 654,146.43 1,196,948.65 1,391,800.68
627,991.99 567,923.27 778,164.00 559,731.78 641,643.97 1,174,071.82 1,365,199.72
615,686.82 556,795.12 762,916.30 548,764.14 629,071.31 1,151,066.52 1,338,449.37
603,312.56 545,604.48 747,582.97 537,734.91 616,428.04 1,127,932.03 1,311,548.80
590,868.80 534,350.99 732,163.53 526,643.74 603,713.77 1,104,667.62 1,284,497.16
578,355.16 523,034.31 716,657.50 515,490.28 590,928.09 1,081,272.56 1,257,293.60
565,771.25 511,654.07 701,064.39 504,274.19 578,070.62 1,057,746.11 1,229,937.27
553,116.67 500,209.92 685,383.71 492,995.11 565,140.94 1,034,087.55 1,202,427.32
540,391.02 488,701.51 669,614.97 481,652.69 552,138.64 1,010,296.12 1,174,762.87
527,593.90 477,128.47 653,757.68 470,246.57 539,063.33 986,371.09 1,146,943.06
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
84 85 86
-- -- --
RITE AID RITE AID RITE AID
- ---------------------------------------------------------
BRENTWOOD BROOKLYN CATSKILL
NY NY NY
- ---------------------------------------------------------
3,576,285.69 3,079,579.11 2,433,860.98
- ---------------------------------------------------------
6.739% 6.739% 6.739%
- ---------------------------------------------------------
10TH 10TH 10TH
- ---------------------------------------------------------
<S> <C> <C>
1,513,334.30 1,303,148.90 1,029,908.04
1,497,052.64 1,289,128.58 1,018,827.46
1,480,679.53 1,275,029.52 1,007,684.65
1,464,214.48 1,260,851.29 996,479.27
1,447,656.97 1,246,593.43 985,210.96
1,431,006.47 1,232,255.50 973,879.37
1,414,262.46 1,217,837.05 962,484.15
1,397,424.42 1,203,337.63 951,024.93
1,380,491.83 1,188,756.78 939,501.36
1,363,464.14 1,174,094.05 927,913.07
1,346,340.83 1,159,348.98 916,259.71
1,329,121.35 1,144,521.10 904,540.90
1,311,805.18 1,129,609.95 892,756.28
1,294,391.76 1,114,615.06 880,905.48
1,276,880.54 1,099,535.96 868,988.13
1,259,270.99 1,084,372.18 857,003.85
1,241,562.55 1,069,123.25 844,952.27
1,223,754.66 1,053,788.67 832,833.01
1,205,846.76 1,038,367.99 820,645.69
1,187,838.29 1,022,860.70 808,389.93
1,169,728.70 1,007,266.32 796,065.34
1,151,517.40 991,584.37 783,671.55
1,133,203.83 975,814.36 771,208.14
1,114,787.41 959,955.78 758,674.75
1,096,267.57 944,008.14 746,070.97
1,077,643.73 927,970.94 733,396.41
1,058,915.29 911,843.68 720,650.67
1,040,081.69 895,625.85 707,833.36
1,021,142.31 879,316.95 694,944.06
1,002,096.58 862,916.46 681,982.38
982,943.88 846,423.86 668,947.91
963,683.63 829,838.65 655,840.24
944,315.22 813,160.29 642,658.96
924,838.04 796,388.27 629,403.66
905,251.47 779,522.07 616,073.91
885,554.91 762,561.14 602,669.31
865,747.74 745,504.97 589,189.43
845,829.34 728,353.01 575,633.85
825,799.07 711,104.73 562,002.14
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 29
<PAGE>
<TABLE>
<CAPTION>
BALANCE
68 69 70 74 75 76
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
CA CA CA CA CT ID
- ------------------------------------------------------------------------------------------------------------------------------------
4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
77 78 79 80 81 82 83
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD CARTERET LAS VEGAS
KY KY MI NH NH NJ NV
- ------------------------------------------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
84 85 86
-- -- --
RITE AID RITE AID RITE AID
- ---------------------------------------------------------
BRENTWOOD BROOKLYN CATSKILL
NY NY NY
- ---------------------------------------------------------
3,576,285.69 3,079,579.11 2,433,860.98
- ---------------------------------------------------------
6.739% 6.739% 6.739%
- ---------------------------------------------------------
10TH 10TH 10TH
- ---------------------------------------------------------
<C> <C> <C>
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 30
<PAGE>
BALANCE
<TABLE>
<CAPTION>
87 88 89 90 91 92 93
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO
NY NY OH OH OH OH OR
- ------------------------------------------------------------------------------------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,885,005.18 2,083,427.77 2,604,283.99 2,728,297.92 2,604,283.99 3,025,929.63 2,381,059.48
1,882,512.57 2,080,672.77 2,600,840.24 2,724,690.19 2,600,840.24 3,021,928.33 2,377,910.91
1,880,005.96 2,077,902.30 2,597,377.16 2,721,062.20 2,597,377.16 3,017,904.55 2,374,744.66
1,877,485.27 2,075,116.28 2,593,894.62 2,717,413.83 2,593,894.62 3,013,858.18 2,371,560.63
1,874,950.42 2,072,314.60 2,590,392.53 2,713,744.97 2,590,392.53 3,009,789.09 2,368,358.72
1,872,401.34 2,069,497.20 2,586,870.78 2,710,055.51 2,586,870.78 3,005,697.14 2,365,138.83
1,869,837.94 2,066,663.97 2,583,329.24 2,706,345.33 2,583,329.24 3,001,582.22 2,361,900.85
1,867,260.15 2,063,814.83 2,579,767.82 2,702,614.31 2,579,767.82 2,997,444.18 2,358,644.70
1,864,667.88 2,060,949.69 2,576,186.39 2,698,862.35 2,576,186.39 2,993,282.91 2,355,370.25
1,862,061.06 2,058,068.46 2,572,584.86 2,695,089.31 2,572,584.86 2,989,098.27 2,352,077.42
1,859,439.59 2,055,171.05 2,568,963.10 2,691,295.08 2,568,963.10 2,984,890.12 2,348,766.09
1,856,803.41 2,052,257.37 2,565,320.99 2,687,479.54 2,565,320.99 2,980,658.35 2,345,436.17
1,854,152.41 2,049,327.32 2,561,658.44 2,683,642.58 2,561,658.44 2,976,402.81 2,342,087.55
1,851,486.53 2,046,380.82 2,557,975.32 2,679,784.07 2,557,975.32 2,972,123.37 2,338,720.12
1,848,805.68 2,043,417.78 2,554,271.51 2,675,903.89 2,554,271.51 2,967,819.90 2,335,333.79
1,846,109.78 2,040,438.09 2,550,546.90 2,672,001.92 2,550,546.90 2,963,492.26 2,331,928.43
1,843,398.73 2,037,441.67 2,546,801.38 2,668,078.04 2,546,801.38 2,959,140.32 2,328,503.95
1,840,672.46 2,034,428.42 2,543,034.82 2,664,132.12 2,543,034.82 2,954,763.94 2,325,060.24
1,837,930.88 2,031,398.25 2,539,247.11 2,660,164.04 2,539,247.11 2,950,362.98 2,321,597.19
1,835,173.91 2,028,351.07 2,535,438.13 2,656,173.68 2,535,438.13 2,945,937.31 2,318,114.70
1,832,401.45 2,025,286.77 2,531,607.76 2,652,160.91 2,531,607.76 2,941,486.78 2,314,612.64
1,829,613.42 2,022,205.26 2,527,755.87 2,648,125.60 2,527,755.87 2,937,011.26 2,311,090.92
1,826,809.73 2,019,106.45 2,523,882.36 2,644,067.64 2,523,882.36 2,932,510.61 2,307,549.42
1,823,990.30 2,015,990.23 2,519,987.09 2,639,986.88 2,519,987.09 2,927,984.68 2,303,988.03
1,821,155.04 2,012,856.52 2,516,069.95 2,635,883.21 2,516,069.95 2,923,433.33 2,300,406.65
1,818,303.85 2,009,705.21 2,512,130.81 2,631,756.49 2,512,130.81 2,918,856.43 2,296,805.15
1,815,436.65 2,006,536.20 2,508,169.55 2,627,606.59 2,508,169.55 2,914,253.82 2,293,183.42
1,812,553.35 2,003,349.39 2,504,186.04 2,623,433.39 2,504,186.04 2,909,625.36 2,289,541.36
1,809,653.86 2,000,144.69 2,500,180.16 2,619,236.76 2,500,180.16 2,904,970.91 2,285,878.84
1,806,738.08 1,996,921.98 2,496,151.79 2,615,016.55 2,496,151.79 2,900,290.33 2,282,195.76
1,803,805.93 1,993,681.19 2,492,100.79 2,610,772.65 2,492,100.79 2,895,583.45 2,278,491.99
1,800,857.32 1,990,422.19 2,488,027.04 2,606,504.92 2,488,027.04 2,890,850.15 2,274,767.42
1,797,892.14 1,987,144.89 2,483,930.42 2,602,213.21 2,483,930.42 2,886,090.26 2,271,021.93
1,794,910.31 1,983,849.18 2,479,810.79 2,597,897.41 2,479,810.79 2,881,303.64 2,267,255.41
1,791,911.74 1,980,534.97 2,475,668.02 2,593,557.37 2,475,668.02 2,876,490.14 2,263,467.74
1,788,896.33 1,977,202.14 2,471,501.99 2,589,192.95 2,471,501.99 2,871,649.61 2,259,658.80
1,785,863.98 1,973,850.60 2,467,312.56 2,584,804.03 2,467,312.56 2,866,781.90 2,255,828.47
1,782,814.61 1,970,480.23 2,463,099.61 2,580,390.46 2,463,099.61 2,861,886.85 2,251,976.62
1,779,748.11 1,967,090.94 2,458,862.99 2,575,952.10 2,458,862.99 2,856,964.31 2,248,103.15
1,776,664.39 1,963,682.62 2,454,602.59 2,571,488.82 2,454,602.59 2,852,014.12 2,244,207.92
1,773,563.35 1,960,255.15 2,450,318.26 2,567,000.47 2,450,318.26 2,847,036.14 2,240,290.82
1,770,444.89 1,956,808.44 2,446,009.87 2,562,486.92 2,446,009.87 2,842,030.20 2,236,351.72
1,767,308.93 1,953,342.37 2,441,677.28 2,557,948.02 2,441,677.28 2,836,996.15 2,232,390.50
1,764,155.35 1,949,856.83 2,437,320.36 2,553,383.63 2,437,320.36 2,831,933.82 2,228,407.03
<CAPTION>
94 95 96 97 98 99 100
-- -- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
OR PA PA TN UT VA VA
- ------------------------------------------------------------------------------------------------------------------------------------
6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
6,051,859.26 2,624,126.38 2,544,756.78 1,924,689.98 3,373,168.08 2,579,480.62 2,381,059.48
6,043,856.66 2,620,656.40 2,541,391.75 1,922,144.89 3,368,707.61 2,576,069.67 2,377,910.91
6,035,809.11 2,617,166.93 2,538,007.82 1,919,585.50 3,364,222.09 2,572,639.57 2,374,744.66
6,027,716.37 2,613,657.86 2,534,604.89 1,917,011.75 3,359,711.38 2,569,190.21 2,371,560.63
6,019,578.18 2,610,129.09 2,531,182.85 1,914,423.54 3,355,175.34 2,565,721.47 2,368,358.72
6,011,394.28 2,606,580.50 2,527,741.59 1,911,820.79 3,350,613.82 2,562,233.26 2,365,138.83
6,003,164.43 2,603,011.98 2,524,281.01 1,909,203.43 3,346,026.69 2,558,725.45 2,361,900.85
5,994,888.36 2,599,423.42 2,520,800.99 1,906,571.36 3,341,413.80 2,555,197.95 2,358,644.70
5,986,565.82 2,595,814.71 2,517,301.43 1,903,924.52 3,336,775.00 2,551,650.63 2,355,370.25
5,978,196.53 2,592,185.74 2,513,782.21 1,901,262.81 3,332,110.16 2,548,083.40 2,352,077.42
5,969,780.25 2,588,536.38 2,510,243.24 1,898,586.16 3,327,419.11 2,544,496.13 2,348,766.09
5,961,316.70 2,584,866.53 2,506,684.38 1,895,894.47 3,322,701.72 2,540,888.71 2,345,436.17
5,952,805.62 2,581,176.07 2,503,105.54 1,893,187.67 3,317,957.84 2,537,261.04 2,342,087.55
5,944,246.74 2,577,464.88 2,499,506.61 1,890,465.67 3,313,187.32 2,533,613.00 2,338,720.12
5,935,639.80 2,573,732.85 2,495,887.46 1,887,728.38 3,308,390.01 2,529,944.47 2,335,333.79
5,926,984.53 2,569,979.87 2,492,247.99 1,884,975.71 3,303,565.76 2,526,255.33 2,331,928.43
5,918,280.65 2,566,205.81 2,488,588.08 1,882,207.59 3,298,714.41 2,522,545.48 2,328,503.95
5,909,527.88 2,562,410.55 2,484,907.61 1,879,423.93 3,293,835.82 2,518,814.80 2,325,060.24
5,900,725.97 2,558,593.98 2,481,206.48 1,876,624.63 3,288,929.83 2,515,063.16 2,321,597.19
5,891,874.62 2,554,755.98 2,477,484.56 1,873,809.61 3,283,996.30 2,511,290.46 2,318,114.70
5,882,973.57 2,550,896.42 2,473,741.74 1,870,978.78 3,279,035.05 2,507,496.56 2,314,612.64
5,874,022.52 2,547,015.19 2,469,977.90 1,868,132.06 3,274,045.95 2,503,681.37 2,311,090.92
5,865,021.22 2,543,112.17 2,466,192.93 1,865,269.35 3,269,028.82 2,499,844.74 2,307,549.42
5,855,969.36 2,539,187.22 2,462,386.70 1,862,390.56 3,263,983.52 2,495,986.58 2,303,988.03
5,846,866.67 2,535,240.23 2,458,559.09 1,859,495.60 3,258,909.89 2,492,106.74 2,300,406.65
5,837,712.85 2,531,271.08 2,454,709.99 1,856,584.39 3,253,807.77 2,488,205.12 2,296,805.15
5,828,507.64 2,527,279.64 2,450,839.27 1,853,656.83 3,248,676.99 2,484,281.58 2,293,183.42
5,819,250.72 2,523,265.78 2,446,946.82 1,850,712.83 3,243,517.40 2,480,336.01 2,289,541.36
5,809,941.83 2,519,229.38 2,443,032.50 1,847,752.29 3,238,328.83 2,476,368.29 2,285,878.84
5,800,580.65 2,515,170.31 2,439,096.20 1,844,775.13 3,233,111.12 2,472,378.28 2,282,195.76
5,791,166.91 2,511,088.45 2,435,137.80 1,841,781.25 3,227,864.12 2,468,365.86 2,278,491.99
5,781,700.29 2,506,983.66 2,431,157.17 1,838,770.56 3,222,587.64 2,464,330.91 2,274,767.42
5,772,180.52 2,502,855.82 2,427,154.18 1,835,742.96 3,217,281.54 2,460,273.31 2,271,021.93
5,762,607.28 2,498,704.80 2,423,128.72 1,832,698.35 3,211,945.64 2,456,192.91 2,267,255.41
5,752,980.29 2,494,530.47 2,419,080.64 1,829,636.65 3,206,579.77 2,452,089.60 2,263,467.74
5,743,299.22 2,490,332.70 2,415,009.84 1,826,557.76 3,201,183.76 2,447,963.25 2,259,658.80
5,733,563.79 2,486,111.35 2,410,916.17 1,823,461.57 3,195,757.46 2,443,813.72 2,255,828.47
5,723,773.69 2,481,866.30 2,406,799.51 1,820,348.00 3,190,300.68 2,439,640.89 2,251,976.62
5,713,928.61 2,477,597.41 2,402,659.74 1,817,216.94 3,184,813.26 2,435,444.63 2,248,103.15
5,704,028.24 2,473,304.54 2,398,496.72 1,814,068.29 3,179,295.02 2,431,224.80 2,244,207.92
5,694,072.28 2,468,987.57 2,394,310.31 1,810,901.97 3,173,745.79 2,426,981.27 2,240,290.82
5,684,060.40 2,464,646.35 2,390,100.40 1,807,717.86 3,168,165.40 2,422,713.91 2,236,351.72
5,673,992.29 2,460,280.75 2,385,866.85 1,804,515.87 3,162,553.67 2,418,422.59 2,232,390.50
5,663,867.65 2,455,890.64 2,381,609.52 1,801,295.91 3,156,910.42 2,414,107.17 2,228,407.03
<CAPTION>
101 102
--- ---
RITE AID RITE AID
- ---------------------------------------------
VIRGINIA BEACH ESSEX
VA VT
- ---------------------------------------------
2,880,897.05 1,907,352.37
- ---------------------------------------------
6.739% 6.739%
- ---------------------------------------------
10TH 10TH
- ---------------------------------------------
<S> <C>
2,877,113.78 1,904,847.58
2,873,309.26 1,902,328.73
2,869,483.38 1,899,795.73
2,865,636.01 1,897,248.51
2,861,767.03 1,894,686.98
2,857,876.33 1,892,111.06
2,853,963.77 1,889,520.68
2,850,029.25 1,886,915.76
2,846,072.63 1,884,296.20
2,842,093.79 1,881,661.94
2,838,092.60 1,879,012.88
2,834,068.95 1,876,348.94
2,830,022.70 1,873,670.04
2,825,953.72 1,870,976.10
2,821,861.90 1,868,267.03
2,817,747.09 1,865,542.75
2,813,609.18 1,862,803.16
2,809,448.03 1,860,048.20
2,805,263.51 1,857,277.76
2,801,055.50 1,854,491.76
2,796,823.85 1,851,690.12
2,792,568.43 1,848,872.74
2,788,289.12 1,846,039.54
2,783,985.78 1,843,190.43
2,779,658.27 1,840,325.32
2,775,306.46 1,837,444.12
2,770,930.21 1,834,546.74
2,766,529.38 1,831,633.09
2,762,103.84 1,828,703.08
2,757,653.44 1,825,756.61
2,753,178.05 1,822,793.59
2,748,677.53 1,819,813.94
2,744,151.74 1,816,817.55
2,739,600.52 1,813,804.33
2,735,023.75 1,810,774.20
2,730,421.28 1,807,727.04
2,725,792.96 1,804,662.78
2,721,138.65 1,801,581.30
2,716,458.20 1,798,482.52
2,711,751.47 1,795,366.34
2,707,018.30 1,792,232.66
2,702,258.56 1,789,081.38
2,697,472.08 1,785,912.40
2,692,658.73 1,782,725.63
</TABLE>
Page 31
<PAGE>
BALANCE
<TABLE>
<CAPTION>
87 88 89 90 91 92 93
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO
NY NY OH OH OH OH OR
- ------------------------------------------------------------------------------------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,760,984.06 1,946,351.73 2,432,938.98 2,548,793.60 2,432,938.98 2,826,843.07 2,224,401.19
1,757,794.96 1,942,826.93 2,428,532.99 2,544,177.80 2,428,532.99 2,821,723.73 2,220,372.86
1,754,587.96 1,939,282.34 2,424,102.25 2,539,536.08 2,424,102.25 2,816,575.64 2,216,321.90
1,751,362.94 1,935,717.85 2,419,646.64 2,534,868.29 2,419,646.64 2,811,398.64 2,212,248.20
1,748,119.81 1,932,133.34 2,415,166.00 2,530,174.29 2,415,166.00 2,806,192.57 2,208,151.62
1,744,858.47 1,928,528.70 2,410,660.20 2,525,453.93 2,410,660.20 2,800,957.26 2,204,032.03
1,741,578.82 1,924,903.81 2,406,129.10 2,520,707.06 2,406,129.10 2,795,692.55 2,199,889.30
1,738,280.74 1,921,258.57 2,401,572.55 2,515,933.53 2,401,572.55 2,790,398.27 2,195,723.31
1,734,964.15 1,917,592.86 2,396,990.41 2,511,133.19 2,396,990.41 2,785,074.26 2,191,533.93
1,731,628.93 1,913,906.56 2,392,382.54 2,506,305.90 2,392,382.54 2,779,720.35 2,187,321.02
1,728,274.98 1,910,199.56 2,387,748.79 2,501,451.49 2,387,748.79 2,774,336.38 2,183,084.45
1,724,902.19 1,906,471.75 2,383,089.02 2,496,569.83 2,383,089.02 2,768,922.17 2,178,824.09
1,721,510.47 1,902,722.99 2,378,403.08 2,491,660.75 2,378,403.08 2,763,477.56 2,174,539.80
1,718,099.69 1,898,953.19 2,373,690.82 2,486,724.10 2,373,690.82 2,758,002.37 2,170,231.46
1,714,669.76 1,895,162.21 2,368,952.11 2,481,759.73 2,368,952.11 2,752,496.43 2,165,898.91
1,711,220.57 1,891,349.95 2,364,186.78 2,476,767.48 2,364,186.78 2,746,959.57 2,161,542.04
1,707,752.01 1,887,516.27 2,359,394.68 2,471,747.19 2,359,394.68 2,741,391.62 2,157,160.70
1,704,263.97 1,883,661.07 2,354,575.68 2,466,698.71 2,354,575.68 2,735,792.39 2,152,754.76
1,700,756.35 1,879,784.22 2,349,729.62 2,461,621.88 2,349,729.62 2,730,161.73 2,148,324.07
1,697,229.02 1,875,885.59 2,344,856.34 2,456,516.54 2,344,856.34 2,724,499.44 2,143,868.50
1,693,681.89 1,871,965.07 2,339,955.69 2,451,382.52 2,339,955.69 2,718,805.36 2,139,387.91
1,690,114.83 1,868,022.54 2,335,027.52 2,446,219.68 2,335,027.52 2,713,079.29 2,134,882.15
1,686,527.74 1,864,057.86 2,330,071.68 2,441,027.84 2,330,071.68 2,707,321.08 2,130,351.09
1,682,920.51 1,860,070.92 2,325,088.00 2,435,806.85 2,325,088.00 2,701,530.52 2,125,794.59
1,679,293.02 1,856,061.59 2,320,076.34 2,430,556.53 2,320,076.34 2,695,707.44 2,121,212.50
1,675,645.16 1,852,029.74 2,315,036.53 2,425,276.73 2,315,036.53 2,689,851.67 2,116,604.67
1,671,976.82 1,847,975.25 2,309,968.42 2,419,967.28 2,309,968.42 2,683,963.01 2,111,970.97
1,668,287.87 1,843,897.99 2,304,871.85 2,414,628.02 2,304,871.85 2,678,041.28 2,107,311.25
1,664,578.21 1,839,797.83 2,299,746.65 2,409,258.76 2,299,746.65 2,672,086.29 2,102,625.36
1,660,847.71 1,835,674.65 2,294,592.68 2,403,859.36 2,294,592.68 2,666,097.86 2,097,913.15
1,657,096.26 1,831,528.32 2,289,409.76 2,398,429.63 2,289,409.76 2,660,075.80 2,093,174.48
1,653,323.75 1,827,358.69 2,284,197.73 2,392,969.41 2,284,197.73 2,654,019.92 2,088,409.20
1,649,530.05 1,823,165.66 2,278,956.43 2,387,478.53 2,278,956.43 2,647,930.04 2,083,617.16
1,645,715.05 1,818,949.07 2,273,685.70 2,381,956.81 2,273,685.70 2,641,805.95 2,078,798.21
1,641,878.62 1,814,708.80 2,268,385.37 2,376,404.09 2,268,385.37 2,635,647.47 2,073,952.19
1,638,020.65 1,810,444.73 2,263,055.28 2,370,820.18 2,263,055.28 2,629,454.41 2,069,078.96
1,634,141.01 1,806,156.70 2,257,695.25 2,365,204.91 2,257,695.25 2,623,226.57 2,064,178.36
1,630,239.58 1,801,844.60 2,252,305.12 2,359,558.10 2,252,305.12 2,616,963.75 2,059,250.25
1,626,316.24 1,797,508.28 2,246,884.72 2,353,879.59 2,246,884.72 2,610,665.76 2,054,294.45
1,622,370.87 1,793,147.60 2,241,433.88 2,348,169.18 2,241,433.88 2,604,332.41 2,049,310.83
1,618,403.35 1,788,762.44 2,235,952.43 2,342,426.71 2,235,952.43 2,597,963.48 2,044,299.21
1,614,413.54 1,784,352.65 2,230,440.19 2,336,651.99 2,230,440.19 2,591,558.79 2,039,259.46
1,610,401.33 1,779,918.10 2,224,897.00 2,330,844.84 2,224,897.00 2,585,118.14 2,034,191.40
1,606,366.59 1,775,458.64 2,219,322.68 2,325,005.07 2,219,322.68 2,578,641.31 2,029,094.88
1,602,309.18 1,770,974.14 2,213,717.06 2,319,132.51 2,213,717.06 2,572,128.11 2,023,969.74
1,598,228.99 1,766,464.46 2,208,079.96 2,313,226.97 2,208,079.96 2,565,578.33 2,018,815.82
1,594,125.89 1,761,929.45 2,202,411.20 2,307,288.27 2,202,411.20 2,558,991.77 2,013,632.95
1,589,999.75 1,757,368.97 2,196,710.60 2,301,316.22 2,196,710.60 2,552,368.22 2,008,420.98
1,585,850.43 1,752,782.88 2,190,977.99 2,295,310.63 2,190,977.99 2,545,707.48 2,003,179.73
1,581,677.81 1,748,171.04 2,185,213.19 2,289,271.31 2,185,213.19 2,539,009.33 1,997,909.06
1,577,481.76 1,743,533.30 2,179,416.01 2,283,198.07 2,179,416.01 2,532,273.56 1,992,608.78
1,573,262.15 1,738,869.51 2,173,586.28 2,277,090.73 2,173,586.28 2,525,499.97 1,987,278.74
1,569,018.83 1,734,179.53 2,167,723.81 2,270,949.10 2,167,723.81 2,518,688.33 1,981,918.77
1,564,751.69 1,729,463.21 2,161,828.41 2,264,772.97 2,161,828.41 2,511,838.45 1,976,528.69
1,560,460.59 1,724,720.41 2,155,899.91 2,258,562.16 2,155,899.91 2,504,950.09 1,971,108.35
1,556,145.38 1,719,950.97 2,149,938.11 2,252,316.46 2,149,938.11 2,498,023.05 1,965,657.56
1,551,805.95 1,715,154.75 2,143,942.84 2,246,035.70 2,143,942.84 2,491,057.12 1,960,176.17
1,547,442.14 1,710,331.59 2,137,913.89 2,239,719.66 2,137,913.89 2,484,052.06 1,954,663.99
1,543,053.83 1,705,481.35 2,131,851.09 2,233,368.15 2,131,851.09 2,477,007.66 1,949,120.86
<CAPTION>
94 95 96 97 98 99 100
-- -- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
OR PA PA TN UT VA VA
- ------------------------------------------------------------------------------------------------------------------------------------
6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,653,686.14 2,451,475.87 2,377,328.28 1,798,057.85 3,151,235.48 2,409,767.51 2,224,401.19
5,643,447.46 2,447,036.31 2,373,023.00 1,794,801.62 3,145,528.68 2,405,403.49 2,220,372.86
5,633,151.28 2,442,571.82 2,368,693.54 1,791,527.09 3,139,789.82 2,401,014.95 2,216,321.90
5,622,797.28 2,438,082.26 2,364,339.77 1,788,234.18 3,134,018.74 2,396,601.77 2,212,248.20
5,612,385.13 2,433,567.48 2,359,961.55 1,784,922.78 3,128,215.24 2,392,163.81 2,208,151.62
5,601,914.51 2,429,027.35 2,355,558.74 1,781,592.77 3,122,379.16 2,387,700.92 2,204,032.03
5,591,385.09 2,424,461.72 2,351,131.20 1,778,244.07 3,116,510.30 2,383,212.97 2,199,889.30
5,580,796.54 2,419,870.46 2,346,678.80 1,774,876.56 3,110,608.48 2,378,699.82 2,195,723.31
5,570,148.52 2,415,253.41 2,342,201.40 1,771,490.15 3,104,673.52 2,374,161.32 2,191,533.93
5,559,440.71 2,410,610.43 2,337,698.85 1,768,084.71 3,098,705.23 2,369,597.33 2,187,321.02
5,548,672.76 2,405,941.37 2,333,171.02 1,764,660.15 3,092,703.42 2,365,007.72 2,183,084.45
5,537,844.34 2,401,246.10 2,328,617.76 1,761,216.36 3,086,667.91 2,360,392.33 2,178,824.09
5,526,955.11 2,396,524.46 2,324,038.93 1,757,753.22 3,080,598.50 2,355,751.02 2,174,539.80
5,516,004.73 2,391,776.30 2,319,434.38 1,754,270.64 3,074,495.01 2,351,083.64 2,170,231.46
5,504,992.85 2,387,001.48 2,314,803.98 1,750,768.50 3,068,357.24 2,346,390.06 2,165,898.91
5,493,919.14 2,382,199.84 2,310,147.58 1,747,246.70 3,062,185.00 2,341,670.11 2,161,542.04
5,482,783.23 2,377,371.24 2,305,465.02 1,743,705.11 3,055,978.10 2,336,923.66 2,157,160.70
5,471,584.79 2,372,515.52 2,300,756.17 1,740,143.64 3,049,736.35 2,332,150.55 2,152,754.76
5,460,323.46 2,367,632.53 2,296,020.87 1,736,562.17 3,043,459.54 2,327,350.64 2,148,324.07
5,448,998.88 2,362,722.12 2,291,258.98 1,732,960.58 3,037,147.48 2,322,523.78 2,143,868.50
5,437,610.71 2,357,784.13 2,286,470.35 1,729,338.77 3,030,799.97 2,317,669.80 2,139,387.91
5,426,158.59 2,352,818.41 2,281,654.82 1,725,696.62 3,024,416.82 2,312,788.57 2,134,882.15
5,414,642.15 2,347,824.81 2,276,812.26 1,722,034.01 3,017,997.82 2,307,879.93 2,130,351.09
5,403,061.04 2,342,803.16 2,271,942.50 1,718,350.84 3,011,542.78 2,302,943.71 2,125,794.59
5,391,414.89 2,337,753.31 2,267,045.39 1,714,646.98 3,005,051.48 2,297,979.78 2,121,212.50
5,379,703.34 2,332,675.11 2,262,120.78 1,710,922.32 2,998,523.73 2,292,987.97 2,116,604.67
5,367,926.01 2,327,568.38 2,257,168.51 1,707,176.75 2,991,959.32 2,287,968.13 2,111,970.97
5,356,082.55 2,322,432.98 2,252,188.43 1,703,410.14 2,985,358.04 2,282,920.10 2,107,311.25
5,344,172.58 2,317,268.74 2,247,180.39 1,699,622.37 2,978,719.69 2,277,843.72 2,102,625.36
5,332,195.72 2,312,075.49 2,242,144.22 1,695,813.34 2,972,044.07 2,272,738.83 2,097,913.15
5,320,151.60 2,306,853.08 2,237,079.76 1,691,982.91 2,965,330.95 2,267,605.27 2,093,174.48
5,308,039.85 2,301,601.34 2,231,986.87 1,688,130.98 2,958,580.14 2,262,442.89 2,088,409.20
5,295,860.07 2,296,320.11 2,226,865.38 1,684,257.41 2,951,791.41 2,257,251.51 2,083,617.16
5,283,611.90 2,291,009.22 2,221,715.12 1,680,362.09 2,944,964.56 2,252,030.98 2,078,798.21
5,271,294.95 2,285,668.51 2,216,535.94 1,676,444.89 2,938,099.37 2,246,781.13 2,073,952.19
5,258,908.82 2,280,297.80 2,211,327.68 1,672,505.70 2,931,195.62 2,241,501.79 2,069,078.96
5,246,453.14 2,274,896.94 2,206,090.17 1,668,544.38 2,924,253.11 2,236,192.82 2,064,178.36
5,233,927.50 2,269,465.74 2,200,823.24 1,664,560.82 2,917,271.61 2,230,854.02 2,059,250.25
5,221,331.53 2,264,004.04 2,195,526.74 1,660,554.89 2,910,250.90 2,225,485.25 2,054,294.45
5,208,664.81 2,258,511.67 2,190,200.49 1,656,526.45 2,903,190.76 2,220,086.32 2,049,310.83
5,195,926.97 2,252,988.45 2,184,844.33 1,652,475.40 2,896,090.98 2,214,657.07 2,044,299.21
5,183,117.59 2,247,434.22 2,179,458.09 1,648,401.60 2,888,951.32 2,209,197.34 2,039,259.46
5,170,236.27 2,241,848.80 2,174,041.61 1,644,304.92 2,881,771.57 2,203,706.94 2,034,191.40
5,157,282.62 2,236,232.01 2,168,594.70 1,640,185.23 2,874,551.50 2,198,185.71 2,029,094.88
5,144,256.22 2,230,583.67 2,163,117.21 1,636,042.41 2,867,290.88 2,192,633.48 2,023,969.74
5,131,156.66 2,224,903.62 2,157,608.96 1,631,876.32 2,859,989.49 2,187,050.06 2,018,815.82
5,117,983.54 2,219,191.67 2,152,069.77 1,627,686.83 2,852,647.10 2,181,435.29 2,013,632.95
5,104,736.45 2,213,447.64 2,146,499.47 1,623,473.82 2,845,263.47 2,175,788.99 2,008,420.98
5,091,414.95 2,207,671.35 2,140,897.90 1,619,237.15 2,837,838.37 2,170,110.98 2,003,179.73
5,078,018.65 2,201,862.62 2,135,264.86 1,614,976.68 2,830,371.58 2,164,401.08 1,997,909.06
5,064,547.12 2,196,021.28 2,129,600.19 1,610,692.29 2,822,862.85 2,158,659.11 1,992,608.78
5,050,999.93 2,190,147.13 2,123,903.71 1,606,383.84 2,815,311.96 2,152,884.90 1,987,278.74
5,037,376.66 2,184,239.99 2,118,175.24 1,602,051.20 2,807,718.66 2,147,078.27 1,981,918.77
5,023,676.89 2,178,299.68 2,112,414.60 1,597,694.22 2,800,082.72 2,141,239.02 1,976,528.69
5,009,900.18 2,172,326.00 2,106,621.61 1,593,312.78 2,792,403.90 2,135,366.98 1,971,108.35
4,996,046.11 2,166,318.79 2,100,796.09 1,588,906.72 2,784,681.96 2,129,461.97 1,965,657.56
4,982,114.23 2,160,277.83 2,094,937.85 1,584,475.93 2,776,916.65 2,123,523.79 1,960,176.17
4,968,104.11 2,154,202.95 2,089,046.71 1,580,020.25 2,769,107.73 2,117,552.27 1,954,663.99
4,954,015.32 2,148,093.96 2,083,122.49 1,575,539.55 2,761,254.95 2,111,547.21 1,949,120.86
<CAPTION>
101 102
--- ---
RITE AID RITE AID
- --------------------------------------------
VIRGINIA BEACH ESSEX
VA VT
- --------------------------------------------
2,880,897.05 1,907,352.37
- --------------------------------------------
6.739% 6.739%
- --------------------------------------------
10TH 10TH
- --------------------------------------------
<S> <C>
2,687,818.34 1,779,520.96
2,682,950.77 1,776,298.29
2,678,055.86 1,773,057.53
2,673,133.47 1,769,798.56
2,668,183.43 1,766,521.29
2,663,205.59 1,763,225.62
2,658,199.80 1,759,911.45
2,653,165.90 1,756,578.65
2,648,103.73 1,753,227.15
2,643,013.13 1,749,856.82
2,637,893.94 1,746,467.56
2,632,746.00 1,743,059.27
2,627,569.15 1,739,631.84
2,622,363.23 1,736,185.17
2,617,128.08 1,732,719.13
2,611,863.52 1,729,233.64
2,606,569.40 1,725,728.56
2,601,245.55 1,722,203.81
2,595,891.80 1,718,659.26
2,590,507.99 1,715,094.80
2,585,093.94 1,711,510.33
2,579,649.49 1,707,905.72
2,574,174.46 1,704,280.88
2,568,668.68 1,700,635.68
2,563,131.99 1,696,970.00
2,557,564.20 1,693,283.74
2,551,965.14 1,689,576.78
2,546,334.65 1,685,849.00
2,540,672.53 1,682,100.29
2,534,978.61 1,678,330.53
2,529,252.72 1,674,539.59
2,523,494.67 1,670,727.36
2,517,704.28 1,666,893.73
2,511,881.38 1,663,038.57
2,506,025.78 1,659,161.76
2,500,137.29 1,655,263.17
2,494,215.74 1,651,342.69
2,488,260.93 1,647,400.20
2,482,272.68 1,643,435.56
2,476,250.80 1,639,448.66
2,470,195.10 1,635,439.38
2,464,105.39 1,631,407.57
2,457,981.49 1,627,353.12
2,451,823.19 1,623,275.91
2,445,630.31 1,619,175.79
2,439,402.65 1,615,052.66
2,433,140.02 1,610,906.36
2,426,842.22 1,606,736.78
2,420,509.05 1,602,543.79
2,414,140.32 1,598,327.25
2,407,735.82 1,594,087.03
2,401,295.35 1,589,822.99
2,394,818.71 1,585,535.02
2,388,305.71 1,581,222.96
2,381,756.12 1,576,886.68
2,375,169.76 1,572,526.05
2,368,546.41 1,568,140.94
2,361,885.86 1,563,731.20
2,355,187.91 1,559,296.69
</TABLE>
Page 32
<PAGE>
BALANCE
<TABLE>
<CAPTION>
87 88 89 90 91 92 93
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO
NY NY OH OH OH OH OR
- ------------------------------------------------------------------------------------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,538,640.87 1,700,603.87 2,125,754.24 2,226,980.98 2,125,754.24 2,469,923.70 1,943,546.60
1,534,203.13 1,695,699.00 2,119,623.15 2,220,557.93 2,119,623.15 2,462,799.96 1,937,941.03
1,529,740.47 1,690,766.58 2,113,457.64 2,214,098.81 2,113,457.64 2,455,636.22 1,932,303.98
1,525,252.75 1,685,806.46 2,107,257.49 2,207,603.42 2,107,257.49 2,448,432.24 1,926,635.28
1,520,739.82 1,680,818.49 2,101,022.53 2,201,071.56 2,101,022.53 2,441,187.81 1,920,934.74
1,516,201.55 1,675,802.51 2,094,752.55 2,194,503.01 2,094,752.55 2,433,902.69 1,915,202.19
1,511,637.80 1,670,758.36 2,088,447.36 2,187,897.57 2,088,447.36 2,426,576.66 1,909,437.45
1,507,048.42 1,665,685.88 2,082,106.76 2,181,255.04 2,082,106.76 2,419,209.49 1,903,640.33
1,502,433.26 1,660,584.91 2,075,730.56 2,174,575.20 2,075,730.56 2,411,800.95 1,897,810.66
1,497,792.18 1,655,455.30 2,069,318.55 2,167,857.86 2,069,318.55 2,404,350.80 1,891,948.25
1,493,125.04 1,650,296.88 2,062,870.52 2,161,102.78 2,062,870.52 2,396,858.82 1,886,052.91
1,488,431.70 1,645,109.49 2,056,386.29 2,154,309.78 2,056,386.29 2,389,324.76 1,880,124.47
1,483,711.99 1,639,892.97 2,049,865.64 2,147,478.62 2,049,865.64 2,381,748.38 1,874,162.74
1,478,965.78 1,634,647.16 2,043,308.38 2,140,609.10 2,043,308.38 2,374,129.47 1,868,167.52
1,474,192.91 1,629,371.88 2,036,714.29 2,133,701.01 2,036,714.29 2,366,467.76 1,862,138.64
1,469,393.25 1,624,066.99 2,030,083.16 2,126,754.12 2,030,083.16 2,358,763.03 1,856,075.90
1,464,566.62 1,618,732.30 2,023,414.80 2,119,768.21 2,023,414.80 2,351,015.03 1,849,979.11
1,459,712.90 1,613,367.65 2,016,708.99 2,112,743.08 2,016,708.99 2,343,223.52 1,843,848.09
1,454,831.91 1,607,972.87 2,009,965.52 2,105,678.49 2,009,965.52 2,335,388.25 1,837,682.63
1,449,923.51 1,602,547.80 2,003,184.19 2,098,574.23 2,003,184.19 2,327,508.98 1,831,482.55
1,444,987.55 1,597,092.26 1,996,364.76 2,091,430.07 1,996,364.76 2,319,585.47 1,825,247.65
1,440,023.87 1,591,606.08 1,989,507.05 2,084,245.80 1,989,507.05 2,311,617.45 1,818,977.74
1,435,032.32 1,586,089.10 1,982,610.82 2,077,021.17 1,982,610.82 2,303,604.69 1,812,672.61
1,430,012.73 1,580,541.13 1,975,675.86 2,069,755.98 1,975,675.86 2,295,546.93 1,806,332.08
1,424,964.95 1,574,962.01 1,968,701.95 2,062,449.98 1,968,701.95 2,287,443.92 1,799,955.94
1,419,888.83 1,569,351.55 1,961,688.89 2,055,102.96 1,961,688.89 2,279,295.40 1,793,543.99
1,414,784.20 1,563,709.59 1,954,636.43 2,047,714.67 1,954,636.43 2,271,101.13 1,787,096.04
1,409,650.90 1,558,035.94 1,947,544.38 2,040,284.90 1,947,544.38 2,262,860.83 1,780,611.87
1,404,488.77 1,552,330.43 1,940,412.49 2,032,813.40 1,940,412.49 2,254,574.26 1,774,091.29
1,399,297.66 1,546,592.88 1,933,240.55 2,025,299.94 1,933,240.55 2,246,241.15 1,767,534.09
1,394,077.39 1,540,823.11 1,926,028.34 2,017,744.29 1,926,028.34 2,237,861.25 1,760,940.07
1,388,827.81 1,535,020.93 1,918,775.63 2,010,146.20 1,918,775.63 2,229,434.29 1,754,309.01
1,383,548.74 1,529,186.17 1,911,482.18 2,002,505.45 1,911,482.18 2,220,960.00 1,747,640.72
1,378,240.03 1,523,318.65 1,904,147.78 1,994,821.78 1,904,147.78 2,212,438.12 1,740,934.98
1,372,901.51 1,517,418.17 1,896,772.18 1,987,094.97 1,896,772.18 2,203,868.38 1,734,191.58
1,367,533.00 1,511,484.56 1,889,355.17 1,979,324.77 1,889,355.17 2,195,250.52 1,727,410.31
1,362,134.35 1,505,517.62 1,881,896.50 1,971,510.92 1,881,896.50 2,186,584.26 1,720,590.96
1,356,705.38 1,499,517.18 1,874,395.95 1,963,653.20 1,874,395.95 2,177,869.33 1,713,733.31
1,351,245.92 1,493,483.04 1,866,853.27 1,955,751.35 1,866,853.27 2,169,105.46 1,706,837.15
1,345,755.80 1,487,415.01 1,859,268.24 1,947,805.12 1,859,268.24 2,160,292.38 1,699,902.27
1,340,234.85 1,481,312.91 1,851,640.61 1,939,814.27 1,851,640.61 2,151,429.80 1,692,928.43
1,334,682.90 1,475,176.53 1,843,970.15 1,931,778.55 1,843,970.15 2,142,517.45 1,685,915.44
1,329,099.77 1,469,005.70 1,836,256.61 1,923,697.69 1,836,256.61 2,133,555.05 1,678,863.06
1,323,485.28 1,462,800.21 1,828,499.75 1,915,571.46 1,828,499.75 2,124,542.32 1,671,771.07
1,317,839.26 1,456,559.87 1,820,699.33 1,907,399.59 1,820,699.33 2,115,478.98 1,664,639.26
1,312,161.54 1,450,284.49 1,812,855.10 1,899,181.83 1,812,855.10 2,106,364.74 1,657,467.40
1,306,451.93 1,443,973.86 1,804,966.82 1,890,917.91 1,804,966.82 2,097,199.31 1,650,255.26
1,300,710.25 1,437,627.80 1,797,034.25 1,882,607.59 1,797,034.25 2,087,982.41 1,643,002.62
1,294,936.34 1,431,246.10 1,789,057.12 1,874,250.60 1,789,057.12 2,078,713.75 1,635,709.25
1,289,129.99 1,424,828.56 1,781,035.20 1,865,846.68 1,781,035.20 2,069,393.04 1,628,374.92
1,283,291.04 1,418,374.98 1,772,968.22 1,857,395.57 1,772,968.22 2,060,019.99 1,620,999.40
1,277,419.30 1,411,885.16 1,764,855.95 1,848,896.99 1,764,855.95 2,050,594.30 1,613,582.46
1,271,514.58 1,405,358.89 1,756,698.11 1,840,350.69 1,756,698.11 2,041,115.67 1,606,123.87
1,265,576.71 1,398,795.97 1,748,494.47 1,831,756.39 1,748,494.47 2,031,583.82 1,598,623.39
1,259,605.49 1,392,196.19 1,740,244.75 1,823,113.83 1,740,244.75 2,021,998.43 1,591,080.80
1,253,600.73 1,385,559.36 1,731,948.71 1,814,422.73 1,731,948.71 2,012,359.22 1,583,495.84
1,247,562.25 1,378,885.25 1,723,606.07 1,805,682.83 1,723,606.07 2,002,665.87 1,575,868.29
1,241,489.86 1,372,173.66 1,715,216.59 1,796,893.84 1,715,216.59 1,992,918.09 1,568,197.90
1,235,383.38 1,365,424.37 1,706,779.99 1,788,055.50 1,706,779.99 1,983,115.57 1,560,484.44
<CAPTION>
94 95 96 97 98 99 100
-- -- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
OR PA PA TN UT VA VA
- ------------------------------------------------------------------------------------------------------------------------------------
6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,939,847.40 2,141,950.65 2,077,165.00 1,571,033.69 2,753,358.08 2,105,508.42 1,943,546.60
4,925,599.92 2,135,772.85 2,071,174.05 1,566,502.52 2,745,416.86 2,099,435.73 1,937,941.03
4,911,272.43 2,129,560.36 2,065,149.46 1,561,945.91 2,737,431.05 2,093,328.93 1,932,303.98
4,896,864.48 2,123,312.97 2,059,091.03 1,557,363.71 2,729,400.38 2,087,187.84 1,926,635.28
4,882,375.61 2,117,030.50 2,052,998.58 1,552,755.77 2,721,324.62 2,081,012.26 1,920,934.74
4,867,805.38 2,110,712.75 2,046,871.92 1,548,121.96 2,713,203.51 2,074,801.99 1,915,202.19
4,853,153.33 2,104,359.52 2,040,710.85 1,543,462.13 2,705,036.78 2,068,556.86 1,909,437.45
4,838,418.99 2,097,970.62 2,034,515.19 1,538,776.12 2,696,824.20 2,062,276.65 1,903,640.33
4,823,601.90 2,091,545.83 2,028,284.72 1,534,063.80 2,688,565.50 2,055,961.17 1,897,810.66
4,808,701.60 2,085,084.96 2,022,019.27 1,529,325.02 2,680,260.41 2,049,610.22 1,891,948.25
4,793,717.63 2,078,587.81 2,015,718.64 1,524,559.62 2,671,908.69 2,043,223.61 1,886,052.91
4,778,649.51 2,072,054.18 2,009,382.62 1,519,767.47 2,663,510.06 2,036,801.14 1,880,124.47
4,763,496.77 2,065,483.85 2,003,011.01 1,514,948.40 2,655,064.27 2,030,342.59 1,874,162.74
4,748,258.93 2,058,876.62 1,996,603.63 1,510,102.26 2,646,571.05 2,023,847.78 1,868,167.52
4,732,935.52 2,052,232.29 1,990,160.26 1,505,228.92 2,638,030.13 2,017,316.49 1,862,138.64
4,717,526.06 2,045,550.64 1,983,680.71 1,500,328.20 2,629,441.25 2,010,748.52 1,856,075.90
4,702,030.06 2,038,831.47 1,977,164.77 1,495,399.97 2,620,804.13 2,004,143.67 1,849,979.11
4,686,447.04 2,032,074.57 1,970,612.24 1,490,444.05 2,612,118.51 1,997,501.73 1,843,848.09
4,670,776.50 2,025,279.72 1,964,022.91 1,485,460.31 2,603,384.11 1,990,822.48 1,837,682.63
4,655,017.97 2,018,446.72 1,957,396.57 1,480,448.57 2,594,600.66 1,984,105.73 1,831,482.55
4,639,170.93 2,011,575.34 1,950,733.03 1,475,408.70 2,585,767.89 1,977,351.26 1,825,247.65
4,623,234.90 2,004,665.37 1,944,032.06 1,470,340.52 2,576,885.51 1,970,558.85 1,818,977.74
4,607,209.38 1,997,716.60 1,937,293.46 1,465,243.87 2,567,953.25 1,963,728.30 1,812,672.61
4,591,093.86 1,990,728.80 1,930,517.02 1,460,118.61 2,558,970.83 1,956,859.40 1,806,332.08
4,574,887.84 1,983,701.76 1,923,702.52 1,454,964.56 2,549,937.96 1,949,951.91 1,799,955.94
4,558,590.80 1,976,635.26 1,916,849.75 1,449,781.57 2,540,854.37 1,943,005.64 1,793,543.99
4,542,202.25 1,969,529.07 1,909,958.50 1,444,569.47 2,531,719.76 1,936,020.35 1,787,096.04
4,525,721.66 1,962,382.98 1,903,028.55 1,439,328.10 2,522,533.86 1,928,995.84 1,780,611.87
4,509,148.52 1,955,196.76 1,896,059.68 1,434,057.30 2,513,296.37 1,921,931.88 1,774,091.29
4,492,482.31 1,947,970.17 1,889,051.67 1,428,756.90 2,504,007.00 1,914,828.25 1,767,534.09
4,475,722.50 1,940,703.01 1,882,004.31 1,423,426.73 2,494,665.47 1,907,684.72 1,760,940.07
4,458,868.57 1,933,395.04 1,874,917.38 1,418,066.63 2,485,271.47 1,900,501.08 1,754,309.01
4,441,919.99 1,926,046.02 1,867,790.64 1,412,676.42 2,475,824.72 1,893,277.10 1,747,640.72
4,424,876.24 1,918,655.73 1,860,623.88 1,407,255.95 2,466,324.92 1,886,012.55 1,740,934.98
4,407,736.76 1,911,223.94 1,853,416.87 1,401,805.03 2,456,771.77 1,878,707.20 1,734,191.58
4,390,501.04 1,903,750.42 1,846,169.39 1,396,323.50 2,447,164.97 1,871,360.83 1,727,410.31
4,373,168.52 1,896,234.92 1,838,881.21 1,390,811.19 2,437,504.22 1,863,973.20 1,720,590.96
4,355,738.67 1,888,677.22 1,831,552.10 1,385,267.93 2,427,789.22 1,856,544.08 1,713,733.31
4,338,210.93 1,881,077.08 1,824,181.84 1,379,693.53 2,418,019.66 1,849,073.24 1,706,837.15
4,320,584.76 1,873,434.25 1,816,770.18 1,374,087.83 2,408,195.24 1,841,560.45 1,699,902.27
4,302,859.60 1,865,748.51 1,809,316.90 1,368,450.65 2,398,315.64 1,834,005.47 1,692,928.43
4,285,034.90 1,858,019.60 1,801,821.76 1,362,781.81 2,388,380.56 1,826,408.06 1,685,915.44
4,267,110.11 1,850,247.29 1,794,284.53 1,357,081.14 2,378,389.69 1,818,767.98 1,678,863.06
4,249,084.64 1,842,431.33 1,786,704.97 1,351,348.45 2,368,342.71 1,811,085.00 1,671,771.07
4,230,957.96 1,834,571.48 1,779,082.85 1,345,583.56 2,358,239.31 1,803,358.87 1,664,639.26
4,212,729.47 1,826,667.49 1,771,417.92 1,339,786.31 2,348,079.16 1,795,589.35 1,657,467.40
4,194,398.62 1,818,719.11 1,763,709.95 1,333,956.49 2,337,861.97 1,787,776.20 1,650,255.26
4,175,964.82 1,810,726.09 1,755,958.69 1,328,093.94 2,327,587.39 1,779,919.18 1,643,002.62
4,157,427.50 1,802,688.19 1,748,163.90 1,322,198.47 2,317,255.11 1,772,018.03 1,635,709.25
4,138,786.08 1,794,605.14 1,740,325.34 1,316,269.88 2,306,864.81 1,764,072.50 1,628,374.92
4,120,039.98 1,786,476.71 1,732,442.76 1,310,308.00 2,296,416.16 1,756,082.36 1,620,999.40
4,101,188.59 1,778,302.62 1,724,515.91 1,304,312.65 2,285,908.83 1,748,047.35 1,613,582.46
4,082,231.35 1,770,082.63 1,716,544.54 1,298,283.62 2,275,342.49 1,739,967.21 1,606,123.87
4,063,167.64 1,761,816.48 1,708,528.41 1,292,220.73 2,264,716.82 1,731,841.69 1,598,623.39
4,043,996.87 1,753,503.91 1,700,467.26 1,286,123.80 2,254,031.47 1,723,670.55 1,591,080.80
4,024,718.44 1,745,144.65 1,692,360.84 1,279,992.63 2,243,286.11 1,715,453.52 1,583,495.84
4,005,331.75 1,736,738.46 1,684,208.90 1,273,827.02 2,232,480.41 1,707,190.34 1,575,868.29
3,985,836.18 1,728,285.05 1,676,011.17 1,267,626.79 2,221,614.03 1,698,880.75 1,568,197.90
3,966,231.14 1,719,784.17 1,667,767.41 1,261,391.74 2,210,686.63 1,690,524.50 1,560,484.44
<CAPTION>
101 102
--- ---
RITE AID RITE AID
- --------------------------------------------
VIRGINIA BEACH ESSEX
VA VT
- --------------------------------------------
2,880,897.05 1,907,352.37
- --------------------------------------------
6.739% 6.739%
- --------------------------------------------
10TH 10TH
- --------------------------------------------
<S> <C>
2,348,452.34 1,554,837.28
2,341,678.95 1,550,352.83
2,334,867.51 1,545,843.19
2,328,017.83 1,541,308.23
2,321,129.68 1,536,747.80
2,314,202.85 1,532,161.76
2,307,237.12 1,527,549.96
2,300,232.27 1,522,912.27
2,293,188.08 1,518,248.53
2,286,104.33 1,513,558.60
2,278,980.80 1,508,842.33
2,271,817.27 1,504,099.58
2,264,613.50 1,499,330.19
2,257,369.29 1,494,534.02
2,250,084.38 1,489,710.92
2,242,758.57 1,484,860.72
2,235,391.62 1,479,983.29
2,227,983.30 1,475,078.47
2,220,533.37 1,470,146.11
2,213,041.61 1,465,186.04
2,205,507.77 1,460,198.12
2,197,931.62 1,455,182.19
2,190,312.93 1,450,138.09
2,182,651.45 1,445,065.67
2,174,946.95 1,439,964.76
2,167,199.18 1,434,835.20
2,159,407.90 1,429,676.83
2,151,572.86 1,424,489.50
2,143,693.83 1,419,273.04
2,135,770.55 1,414,027.28
2,127,802.77 1,408,752.06
2,119,790.24 1,403,447.22
2,111,732.72 1,398,112.58
2,103,629.95 1,392,747.99
2,095,481.68 1,387,353.27
2,087,287.64 1,381,928.25
2,079,047.59 1,376,472.77
2,070,761.27 1,370,986.65
2,062,428.41 1,365,469.73
2,054,048.75 1,359,921.82
2,045,622.04 1,354,342.75
2,037,148.00 1,348,732.35
2,028,626.37 1,343,090.45
2,020,056.89 1,337,416.86
2,011,439.28 1,331,711.41
2,002,773.28 1,325,973.92
1,994,058.61 1,320,204.21
1,985,295.00 1,314,402.10
1,976,482.18 1,308,567.40
1,967,619.86 1,302,699.94
1,958,707.78 1,296,799.52
1,949,745.64 1,290,865.97
1,940,733.18 1,284,899.10
1,931,670.11 1,278,898.72
1,922,556.13 1,272,864.64
1,913,390.98 1,266,796.68
1,904,174.35 1,260,694.64
1,894,905.97 1,254,558.33
1,885,585.53 1,248,387.56
</TABLE>
Page 33
<PAGE>
BALANCE
<TABLE>
<CAPTION>
87 88 89 90 91 92 93
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO
NY NY OH OH OH OH OR
- ------------------------------------------------------------------------------------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,229,242.59 1,358,637.19 1,698,296.01 1,779,167.52 1,698,296.01 1,973,257.99 1,552,727.66
1,223,067.32 1,351,811.89 1,689,764.39 1,770,229.63 1,689,764.39 1,963,345.06 1,544,927.32
1,216,857.38 1,344,948.26 1,681,184.85 1,761,241.54 1,681,184.85 1,953,376.46 1,537,083.18
1,210,612.55 1,338,046.09 1,672,557.13 1,752,202.98 1,672,557.13 1,943,351.88 1,529,194.98
1,204,332.66 1,331,105.15 1,663,880.97 1,743,113.66 1,663,880.97 1,933,271.00 1,521,262.48
1,198,017.50 1,324,125.23 1,655,156.08 1,733,973.30 1,655,156.08 1,923,133.51 1,513,285.44
1,191,666.88 1,317,106.12 1,646,382.19 1,724,781.60 1,646,382.19 1,912,939.08 1,505,263.60
1,185,280.59 1,310,047.59 1,637,559.02 1,715,538.29 1,637,559.02 1,902,687.41 1,497,196.71
1,178,858.44 1,302,949.42 1,628,686.31 1,706,243.07 1,628,686.31 1,892,378.17 1,489,084.52
1,172,400.22 1,295,811.38 1,619,763.77 1,696,895.64 1,619,763.77 1,882,011.03 1,480,926.77
1,165,905.74 1,288,633.27 1,610,791.13 1,687,495.73 1,610,791.13 1,871,585.67 1,472,723.20
1,159,374.78 1,281,414.83 1,601,768.09 1,678,043.02 1,601,768.09 1,861,101.76 1,464,473.57
1,152,807.15 1,274,155.87 1,592,694.38 1,668,537.23 1,592,694.38 1,850,558.98 1,456,177.61
1,146,202.63 1,266,856.13 1,583,569.72 1,658,978.06 1,583,569.72 1,839,956.99 1,447,835.06
1,139,561.02 1,259,515.41 1,574,393.81 1,649,365.20 1,574,393.81 1,829,295.46 1,439,445.66
1,132,882.12 1,252,133.46 1,565,166.38 1,639,698.36 1,565,166.38 1,818,574.06 1,431,009.15
1,126,165.70 1,244,710.05 1,555,887.12 1,629,977.24 1,555,887.12 1,807,792.45 1,422,525.26
1,119,411.57 1,237,244.95 1,546,555.75 1,620,201.52 1,546,555.75 1,796,950.29 1,413,993.72
1,112,619.51 1,229,737.93 1,537,171.98 1,610,370.90 1,537,171.98 1,786,047.24 1,405,414.28
1,105,789.31 1,222,188.76 1,527,735.51 1,600,485.07 1,527,735.51 1,775,082.96 1,396,786.65
1,098,920.75 1,214,597.19 1,518,246.05 1,590,543.73 1,518,246.05 1,764,057.11 1,388,110.57
1,092,013.61 1,206,962.98 1,508,703.30 1,580,546.56 1,508,703.30 1,752,969.35 1,379,385.77
1,085,067.69 1,199,285.90 1,499,106.96 1,570,493.24 1,499,106.96 1,741,819.31 1,370,611.97
1,078,082.76 1,191,565.71 1,489,456.72 1,560,383.47 1,489,456.72 1,730,606.66 1,361,788.90
1,071,058.60 1,183,802.17 1,479,752.29 1,550,216.93 1,479,752.29 1,719,331.03 1,352,916.28
1,063,995.00 1,175,995.02 1,469,993.36 1,539,993.29 1,469,993.36 1,707,992.09 1,343,993.83
1,056,891.73 1,168,144.04 1,460,179.63 1,529,712.23 1,460,179.63 1,696,589.47 1,335,021.27
1,049,748.56 1,160,248.96 1,450,310.79 1,519,373.44 1,450,310.79 1,685,122.81 1,325,998.33
1,042,565.29 1,152,309.54 1,440,386.52 1,508,976.59 1,440,386.52 1,673,591.76 1,316,924.72
1,035,341.67 1,144,325.54 1,430,406.52 1,498,521.35 1,430,406.52 1,661,995.96 1,307,800.15
1,028,077.49 1,136,296.70 1,420,370.48 1,488,007.40 1,420,370.48 1,650,335.03 1,298,624.33
1,020,772.51 1,128,222.78 1,410,278.07 1,477,434.40 1,410,278.07 1,638,608.61 1,289,396.99
1,013,426.51 1,120,103.51 1,400,128.99 1,466,802.02 1,400,128.99 1,626,816.35 1,280,117.83
1,006,039.25 1,111,938.64 1,389,922.91 1,456,109.94 1,389,922.91 1,614,957.86 1,270,786.56
998,610.51 1,103,727.92 1,379,659.51 1,445,357.81 1,379,659.51 1,603,032.77 1,261,402.88
991,140.05 1,095,471.10 1,369,338.48 1,434,545.30 1,369,338.48 1,591,040.72 1,251,966.51
983,627.64 1,087,167.90 1,358,959.49 1,423,672.07 1,358,959.49 1,578,981.31 1,242,477.15
976,073.03 1,078,818.07 1,348,522.21 1,412,737.77 1,348,522.21 1,566,854.19 1,232,934.49
968,476.01 1,070,421.35 1,338,026.31 1,401,742.07 1,338,026.31 1,554,658.96 1,223,338.25
960,836.32 1,061,977.48 1,327,471.48 1,390,684.62 1,327,471.48 1,542,395.25 1,213,688.11
953,153.72 1,053,486.19 1,316,857.36 1,379,565.07 1,316,857.36 1,530,062.66 1,203,983.78
945,427.99 1,044,947.21 1,306,183.65 1,368,383.08 1,306,183.65 1,517,660.82 1,194,224.95
937,658.86 1,036,360.28 1,295,449.98 1,357,138.29 1,295,449.98 1,505,189.33 1,184,411.32
929,846.11 1,027,725.13 1,284,656.05 1,345,830.35 1,284,656.05 1,492,647.80 1,174,542.58
921,989.48 1,019,041.48 1,273,801.49 1,334,458.91 1,273,801.49 1,480,035.84 1,164,618.41
914,088.73 1,010,309.07 1,262,885.98 1,323,023.61 1,262,885.98 1,467,353.06 1,154,638.52
906,143.61 1,001,527.62 1,251,909.16 1,311,524.09 1,251,909.16 1,454,599.05 1,144,602.57
898,153.87 992,696.85 1,240,870.71 1,299,959.99 1,240,870.71 1,441,773.41 1,134,510.27
890,119.26 983,816.49 1,229,770.26 1,288,330.95 1,229,770.26 1,428,875.75 1,124,361.29
882,039.53 974,886.26 1,218,607.48 1,276,636.60 1,218,607.48 1,415,905.66 1,114,155.32
873,914.43 965,905.88 1,207,382.00 1,264,876.58 1,207,382.00 1,402,862.73 1,103,892.03
865,743.70 956,875.06 1,196,093.49 1,253,050.52 1,196,093.49 1,389,746.56 1,093,571.10
857,527.08 947,793.54 1,184,741.58 1,241,158.04 1,184,741.58 1,376,556.72 1,083,192.21
849,264.32 938,661.01 1,173,325.92 1,229,198.78 1,173,325.92 1,363,292.81 1,072,755.04
840,955.16 929,477.19 1,161,846.15 1,217,172.35 1,161,846.15 1,349,954.42 1,062,259.25
832,599.33 920,241.80 1,150,301.92 1,205,078.39 1,150,301.92 1,336,541.12 1,051,704.53
824,196.58 910,954.54 1,138,692.85 1,192,916.51 1,138,692.85 1,323,052.49 1,041,090.52
815,746.64 901,615.13 1,127,018.59 1,180,686.33 1,127,018.59 1,309,488.11 1,030,416.91
807,249.25 892,223.27 1,115,278.77 1,168,387.47 1,115,278.77 1,295,847.56 1,019,683.36
<CAPTION>
94 95 96 97 98 99 100
-- -- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
OR PA PA TN UT VA VA
- ------------------------------------------------------------------------------------------------------------------------------------
6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,946,515.99 1,711,235.55 1,659,477.35 1,255,121.68 2,199,697.85 1,682,121.33 1,552,727.66
3,926,690.13 1,702,638.93 1,651,140.74 1,248,816.40 2,188,647.37 1,673,670.96 1,544,927.32
3,906,752.92 1,693,994.02 1,642,757.31 1,242,475.72 2,177,534.83 1,665,173.14 1,537,083.18
3,886,703.76 1,685,300.57 1,634,326.81 1,236,099.42 2,166,359.88 1,656,627.59 1,529,194.98
3,866,542.00 1,676,558.30 1,625,848.95 1,229,687.32 2,155,122.18 1,648,034.06 1,521,262.48
3,846,267.01 1,667,766.93 1,617,323.49 1,223,239.21 2,143,821.36 1,639,392.26 1,513,285.44
3,825,878.17 1,658,926.19 1,608,750.15 1,216,754.89 2,132,457.09 1,630,701.94 1,505,263.60
3,805,374.82 1,650,035.80 1,600,128.66 1,210,234.15 2,121,028.99 1,621,962.81 1,497,196.71
3,784,756.33 1,641,095.49 1,591,458.76 1,203,676.79 2,109,536.72 1,613,174.60 1,489,084.52
3,764,022.05 1,632,104.97 1,582,740.16 1,197,082.61 2,097,979.90 1,604,337.04 1,480,926.77
3,743,171.33 1,623,063.96 1,573,972.61 1,190,451.40 2,086,358.19 1,595,449.85 1,472,723.20
3,722,203.52 1,613,972.17 1,565,155.82 1,183,782.95 2,074,671.21 1,586,512.75 1,464,473.57
3,701,117.95 1,604,829.33 1,556,289.51 1,177,077.04 2,062,918.60 1,577,525.46 1,456,177.61
3,679,913.98 1,595,635.15 1,547,373.41 1,170,333.48 2,051,099.98 1,568,487.70 1,447,835.06
3,658,590.92 1,586,389.33 1,538,407.24 1,163,552.05 2,039,215.00 1,559,399.19 1,439,445.66
3,637,148.12 1,577,091.59 1,529,390.72 1,156,732.53 2,027,263.27 1,550,259.63 1,431,009.15
3,615,584.89 1,567,741.63 1,520,323.57 1,149,874.72 2,015,244.42 1,541,068.75 1,422,525.26
3,593,900.58 1,558,339.16 1,511,205.49 1,142,978.40 2,003,158.08 1,531,826.26 1,413,993.72
3,572,094.48 1,548,883.90 1,502,036.21 1,136,043.34 1,991,003.86 1,522,531.86 1,405,414.28
3,550,165.93 1,539,375.53 1,492,815.43 1,129,069.34 1,978,781.39 1,513,185.26 1,396,786.65
3,528,114.23 1,529,813.77 1,483,542.88 1,122,056.18 1,966,490.27 1,503,786.18 1,388,110.57
3,505,938.69 1,520,198.31 1,474,218.25 1,115,003.63 1,954,130.14 1,494,334.31 1,379,385.77
3,483,638.62 1,510,528.85 1,464,841.25 1,107,911.47 1,941,700.59 1,484,829.36 1,370,611.97
3,461,213.31 1,500,805.09 1,455,411.59 1,100,779.49 1,929,201.23 1,475,271.04 1,361,788.90
3,438,662.07 1,491,026.72 1,445,928.98 1,093,607.45 1,916,631.68 1,465,659.03 1,352,916.28
3,415,984.18 1,481,193.43 1,436,393.12 1,086,395.14 1,903,991.55 1,455,993.05 1,343,993.83
3,393,178.94 1,471,304.93 1,426,803.70 1,079,142.32 1,891,280.43 1,446,272.79 1,335,021.27
3,370,245.63 1,461,360.89 1,417,160.44 1,071,848.78 1,878,497.92 1,436,497.93 1,325,998.33
3,347,183.53 1,451,361.01 1,407,463.01 1,064,514.27 1,865,643.64 1,426,668.19 1,316,924.72
3,323,991.91 1,441,304.97 1,397,711.13 1,057,138.58 1,852,717.16 1,416,783.24 1,307,800.15
3,300,670.05 1,431,192.46 1,387,904.48 1,049,721.46 1,839,718.09 1,406,842.77 1,298,624.33
3,277,217.23 1,421,023.16 1,378,042.76 1,042,262.69 1,826,646.02 1,396,846.49 1,289,396.99
3,253,632.69 1,410,796.75 1,368,125.66 1,034,762.03 1,813,500.54 1,386,794.07 1,280,117.83
3,229,915.71 1,400,512.91 1,358,152.87 1,027,219.26 1,800,281.24 1,376,685.19 1,270,786.56
3,206,065.54 1,390,171.32 1,348,124.07 1,019,634.12 1,786,987.70 1,366,519.54 1,261,402.88
3,182,081.43 1,379,771.65 1,338,038.95 1,012,006.38 1,773,619.50 1,356,296.81 1,251,966.51
3,157,962.63 1,369,313.57 1,327,897.19 1,004,335.81 1,760,176.23 1,346,016.67 1,242,477.15
3,133,708.38 1,358,796.77 1,317,698.48 996,622.17 1,746,657.47 1,335,678.79 1,232,934.49
3,109,317.93 1,348,220.91 1,307,442.50 988,865.20 1,733,062.79 1,325,282.86 1,223,338.25
3,084,790.50 1,337,585.65 1,297,128.91 981,064.67 1,719,391.76 1,314,828.55 1,213,688.11
3,060,125.33 1,326,890.67 1,286,757.41 973,220.34 1,705,643.96 1,304,315.53 1,203,983.78
3,035,321.64 1,316,135.63 1,276,327.67 965,331.95 1,691,818.95 1,293,743.47 1,194,224.95
3,010,378.66 1,305,320.18 1,265,839.35 957,399.26 1,677,916.30 1,283,112.03 1,184,411.32
2,985,295.60 1,294,444.01 1,255,292.14 949,422.03 1,663,935.58 1,272,420.90 1,174,542.58
2,960,071.69 1,283,506.75 1,244,685.69 941,399.99 1,649,876.34 1,261,669.72 1,164,618.41
2,934,706.12 1,272,508.07 1,234,019.67 933,332.91 1,635,738.15 1,250,858.17 1,154,638.52
2,909,198.10 1,261,447.62 1,223,293.76 925,220.52 1,621,520.57 1,239,985.90 1,144,602.57
2,883,546.83 1,250,325.06 1,212,507.62 917,062.58 1,607,223.14 1,229,052.57 1,134,510.27
2,857,751.51 1,239,140.04 1,201,660.90 908,858.82 1,592,845.41 1,218,057.85 1,124,361.29
2,831,811.32 1,227,892.20 1,190,753.27 900,608.99 1,578,386.95 1,207,001.38 1,114,155.32
2,805,725.46 1,216,581.20 1,179,784.38 892,312.83 1,563,847.29 1,195,882.82 1,103,892.03
2,779,493.11 1,205,206.68 1,168,753.89 883,970.08 1,549,225.97 1,184,701.81 1,093,571.10
2,753,113.44 1,193,768.28 1,157,661.46 875,580.47 1,534,522.55 1,173,458.02 1,083,192.21
2,726,585.63 1,182,265.64 1,146,506.73 867,143.76 1,519,736.55 1,162,151.09 1,072,755.04
2,699,908.84 1,170,698.41 1,135,289.36 858,659.66 1,504,867.52 1,150,780.65 1,062,259.25
2,673,082.24 1,159,066.21 1,124,009.00 850,127.92 1,489,914.98 1,139,346.37 1,051,704.53
2,646,104.98 1,147,368.70 1,112,665.28 841,548.27 1,474,878.48 1,127,847.87 1,041,090.52
2,618,976.22 1,135,605.49 1,101,257.87 832,920.43 1,459,757.53 1,116,284.79 1,030,416.91
2,591,695.12 1,123,776.22 1,089,786.39 824,244.15 1,444,551.66 1,104,656.78 1,019,683.36
<CAPTION>
101 102
--- ---
RITE AID RITE AID
- --------------------------------------------
VIRGINIA BEACH ESSEX
VA VT
- --------------------------------------------
2,880,897.05 1,907,352.37
- --------------------------------------------
6.739% 6.739%
- --------------------------------------------
10TH 10TH
- --------------------------------------------
<S> <C>
1,876,212.76 1,242,182.14
1,866,787.35 1,235,941.86
1,857,309.00 1,229,666.55
1,847,777.43 1,223,355.99
1,838,192.33 1,217,009.99
1,828,553.40 1,210,628.36
1,818,860.34 1,204,210.88
1,809,112.85 1,197,757.37
1,799,310.62 1,191,267.62
1,789,453.34 1,184,741.42
1,779,540.70 1,178,178.57
1,769,572.39 1,171,578.86
1,759,548.10 1,164,942.09
1,749,467.52 1,158,268.06
1,739,330.33 1,151,556.54
1,729,136.21 1,144,807.33
1,718,884.84 1,138,020.21
1,708,575.90 1,131,194.98
1,698,209.07 1,124,331.43
1,687,784.02 1,117,429.32
1,677,300.42 1,110,488.46
1,666,757.95 1,103,508.62
1,656,156.28 1,096,489.58
1,645,495.06 1,089,431.12
1,634,773.98 1,082,333.03
1,623,992.69 1,075,195.07
1,613,150.85 1,068,017.02
1,602,248.13 1,060,798.67
1,591,284.18 1,053,539.78
1,580,258.65 1,046,240.12
1,569,171.21 1,038,899.47
1,558,021.51 1,031,517.60
1,546,809.18 1,024,094.27
1,535,533.90 1,016,629.25
1,524,195.29 1,009,122.31
1,512,793.01 1,001,573.22
1,501,326.69 993,981.72
1,489,795.98 986,347.60
1,478,200.52 978,670.60
1,466,539.93 970,950.49
1,454,813.87 963,187.03
1,443,021.95 955,379.97
1,431,163.81 947,529.06
1,419,239.08 939,634.07
1,407,247.38 931,694.74
1,395,188.34 923,710.82
1,383,061.57 915,682.07
1,370,866.70 907,608.22
1,358,603.35 899,489.04
1,346,271.13 891,324.26
1,333,869.66 883,113.63
1,321,398.54 874,856.89
1,308,857.38 866,553.78
1,296,245.80 858,204.04
1,283,563.39 849,807.41
1,270,809.75 841,363.63
1,257,984.50 832,872.43
1,245,087.22 824,333.54
1,232,117.51 815,746.70
</TABLE>
Page 34
<PAGE>
BALANCE
<TABLE>
<CAPTION>
87 88 89 90 91 92 93
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO
NY NY OH OH OH OH OR
- ------------------------------------------------------------------------------------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
798,704.14 882,778.67 1,103,473.02 1,156,019.54 1,103,473.02 1,282,130.40 1,008,889.54
790,111.04 873,281.03 1,091,600.97 1,143,582.15 1,091,600.97 1,268,336.21 998,035.09
781,469.68 863,730.05 1,079,662.25 1,131,074.92 1,079,662.25 1,254,464.56 987,119.69
772,779.79 854,125.43 1,067,656.48 1,118,497.44 1,067,656.48 1,240,515.00 976,142.99
764,041.10 844,466.88 1,055,583.29 1,105,849.34 1,055,583.29 1,226,487.11 965,104.65
755,253.34 834,754.08 1,043,442.30 1,093,130.21 1,043,442.30 1,212,380.43 954,004.31
746,416.23 824,986.74 1,031,233.13 1,080,339.64 1,031,233.13 1,198,194.54 942,841.64
737,529.49 815,164.55 1,018,955.39 1,067,477.25 1,018,955.39 1,183,928.98 931,616.28
728,592.84 805,287.20 1,006,608.71 1,054,542.62 1,006,608.71 1,169,583.31 920,327.89
719,606.01 795,354.38 994,192.69 1,041,535.36 994,192.69 1,155,157.07 908,976.09
710,568.70 785,365.78 981,706.94 1,028,455.05 981,706.94 1,140,649.82 897,560.55
701,480.65 775,321.08 969,151.07 1,015,301.28 969,151.07 1,126,061.10 886,080.90
692,341.56 765,219.97 956,524.69 1,002,073.64 956,524.69 1,111,390.46 874,536.78
683,151.14 755,062.14 943,827.40 988,771.72 943,827.40 1,096,637.42 862,927.84
673,909.11 744,847.26 931,058.81 975,395.10 931,058.81 1,081,801.53 851,253.70
664,615.19 734,575.02 918,218.51 961,943.36 918,218.51 1,066,882.33 839,514.00
655,269.06 724,245.09 905,306.10 948,416.07 905,306.10 1,051,879.34 827,708.37
645,870.46 713,857.15 892,321.18 934,812.82 892,321.18 1,036,792.10 815,836.44
636,419.07 703,410.88 879,263.34 921,133.17 879,263.34 1,021,620.13 803,897.84
626,914.60 692,905.93 866,132.16 907,376.70 866,132.16 1,006,362.96 791,892.20
617,356.76 682,342.00 852,927.25 893,542.98 852,927.25 991,020.11 779,819.13
607,745.24 671,718.74 839,648.18 879,631.56 839,648.18 975,591.09 767,678.26
598,079.75 661,035.82 826,294.53 865,642.03 826,294.53 960,075.43 755,469.22
588,359.97 650,292.90 812,865.89 851,573.93 812,865.89 944,472.63 743,191.61
578,585.61 639,489.66 799,361.84 837,426.83 799,361.84 928,782.21 730,845.05
568,756.36 628,625.75 785,781.95 823,200.28 785,781.95 913,003.68 718,429.15
558,871.92 617,700.83 772,125.80 808,893.83 772,125.80 897,136.54 705,943.53
548,931.96 606,714.55 758,392.96 794,507.05 758,392.96 881,180.29 693,387.79
538,936.18 595,666.58 744,583.00 780,039.46 744,583.00 865,134.43 680,761.54
528,884.26 584,556.56 730,695.49 765,490.64 730,695.49 848,998.46 668,064.38
518,775.90 573,384.15 716,729.98 750,860.10 716,729.98 832,771.87 655,295.92
508,610.77 562,149.00 702,686.05 736,147.41 702,686.05 816,454.16 642,455.76
498,388.55 550,850.76 688,563.25 721,352.09 688,563.25 800,044.81 629,543.48
488,108.93 539,489.07 674,361.13 706,473.68 674,361.13 783,543.31 616,558.69
477,771.58 528,063.57 660,079.26 691,511.72 660,079.26 766,949.14 603,500.98
467,376.17 516,573.90 645,717.19 676,465.74 645,717.19 750,261.78 590,369.94
456,922.39 505,019.72 631,274.46 661,335.25 631,274.46 733,480.70 577,165.16
446,409.90 493,400.64 616,750.62 646,119.80 616,750.62 716,605.39 563,886.23
435,838.37 481,716.32 602,145.22 630,818.90 602,145.22 699,635.30 550,532.72
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
94 95 96 97 98 99 100
-- -- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
OR PA PA TN UT VA VA
- ------------------------------------------------------------------------------------------------------------------------------------
6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,564,260.81 1,111,880.52 1,078,250.49 815,519.13 1,429,260.40 1,092,963.47 1,008,889.54
2,536,672.43 1,099,918.01 1,066,649.80 806,745.12 1,413,883.27 1,081,204.49 998,035.09
2,508,929.12 1,087,888.33 1,054,983.97 797,921.84 1,398,419.79 1,069,379.47 987,119.69
2,481,030.00 1,075,791.09 1,043,252.62 789,049.01 1,382,869.46 1,057,488.05 976,142.99
2,452,974.22 1,063,625.91 1,031,455.40 780,126.34 1,367,231.80 1,045,529.85 965,104.65
2,424,760.87 1,051,392.42 1,019,591.92 771,153.57 1,351,506.33 1,033,504.49 954,004.31
2,396,389.08 1,039,090.22 1,007,661.82 762,130.41 1,335,692.54 1,021,411.60 942,841.64
2,367,857.96 1,026,718.94 995,664.72 753,056.58 1,319,789.95 1,009,250.80 931,616.28
2,339,166.62 1,014,278.18 983,600.24 743,931.79 1,303,798.05 997,021.70 920,327.89
2,310,314.15 1,001,767.56 971,468.02 734,755.76 1,287,716.34 984,723.93 908,976.09
2,281,299.65 989,186.68 959,267.66 725,528.19 1,271,544.32 972,357.09 897,560.55
2,252,122.21 976,535.15 946,998.79 716,248.81 1,255,281.48 959,920.81 886,080.90
2,222,780.91 963,812.57 934,661.02 706,917.31 1,238,927.31 947,414.68 874,536.78
2,193,274.84 951,018.54 922,253.96 697,533.41 1,222,481.30 934,838.33 862,927.84
2,163,603.06 938,152.66 909,777.22 688,096.81 1,205,942.94 922,191.34 851,253.70
2,133,764.66 925,214.53 897,230.42 678,607.22 1,189,311.69 909,473.34 839,514.00
2,103,758.68 912,203.74 884,613.15 669,064.34 1,172,587.05 896,683.91 827,708.37
2,073,584.20 899,119.88 871,925.03 659,467.86 1,155,768.48 883,822.65 815,836.44
2,043,240.27 885,962.55 859,165.66 649,817.49 1,138,855.46 870,889.17 803,897.84
2,012,725.92 872,731.33 846,334.63 640,112.93 1,121,847.47 857,883.06 791,892.20
1,982,040.22 859,425.80 833,431.55 630,353.87 1,104,743.95 844,803.91 779,819.13
1,951,182.18 846,045.55 820,456.00 620,540.00 1,087,544.39 831,651.31 767,678.26
1,920,150.86 832,590.17 807,407.58 610,671.02 1,070,248.24 818,424.84 755,469.22
1,888,945.26 819,059.21 794,285.89 600,746.61 1,052,854.96 805,124.10 743,191.61
1,857,564.43 805,452.27 781,090.51 590,766.48 1,035,363.99 791,748.66 730,845.05
1,826,007.36 791,768.92 767,821.02 580,730.29 1,017,774.80 778,298.11 718,429.15
1,794,273.07 778,008.72 754,477.02 570,637.75 1,000,086.84 764,772.03 705,943.53
1,762,360.57 764,171.25 741,058.07 560,488.52 982,299.54 751,169.98 693,387.79
1,730,268.85 750,256.07 727,563.77 550,282.30 964,412.35 737,491.54 680,761.54
1,697,996.92 736,262.74 713,993.69 540,018.77 946,424.71 723,736.29 668,064.38
1,665,543.74 722,190.83 700,347.40 529,697.59 928,336.05 709,903.80 655,295.92
1,632,908.32 708,039.89 686,624.47 519,318.46 910,145.81 695,993.62 642,455.76
1,600,089.62 693,809.49 672,824.48 508,881.03 891,853.42 682,005.32 629,543.48
1,567,086.62 679,499.16 658,946.99 498,384.99 873,458.30 667,938.47 616,558.69
1,533,898.27 665,108.48 644,991.57 487,830.01 854,959.88 653,792.62 603,500.98
1,500,523.55 650,636.98 630,957.77 477,215.75 836,357.57 639,567.33 590,369.94
1,466,961.40 636,084.21 616,845.17 466,541.89 817,650.79 625,262.15 577,165.16
1,433,210.77 621,449.71 602,653.31 455,808.08 798,838.96 610,876.64 563,886.23
1,399,270.60 606,733.03 588,381.75 445,013.99 779,921.49 596,410.34 550,532.72
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
101 102
--- ---
RITE AID RITE AID
- --------------------------------------------
VIRGINIA BEACH ESSEX
VA VT
- --------------------------------------------
2,880,897.05 1,907,352.37
- --------------------------------------------
6.739% 6.739%
- --------------------------------------------
10TH 10TH
- --------------------------------------------
<S> <C>
1,219,074.97 807,111.64
1,205,959.18 798,428.08
1,192,769.74 789,695.76
1,179,506.22 780,914.40
1,166,168.22 772,083.72
1,152,755.32 763,203.46
1,139,267.09 754,273.32
1,125,703.12 745,293.03
1,112,062.97 736,262.32
1,098,346.22 727,180.88
1,084,552.44 718,048.45
1,070,681.19 708,864.73
1,056,732.05 699,629.43
1,042,704.57 690,342.28
1,028,598.32 681,002.96
1,014,412.84 671,611.20
1,000,147.71 662,166.70
985,802.46 652,669.16
971,376.65 643,118.28
956,869.83 633,513.76
942,281.54 623,855.31
927,611.33 614,142.62
912,858.73 604,375.38
898,023.28 594,553.29
883,104.52 584,676.05
868,101.98 574,743.33
853,015.18 564,754.83
837,843.67 554,710.24
822,586.95 544,609.24
807,244.55 534,451.52
791,815.99 524,236.75
776,300.78 513,964.61
760,698.45 503,634.79
745,008.50 493,246.96
729,230.43 482,800.79
713,363.76 472,295.96
697,407.98 461,732.14
681,362.59 451,108.99
665,227.10 440,426.18
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
</TABLE>
Page 35
<PAGE>
BALANCE
<TABLE>
<CAPTION>
87 88 89 90 91 92 93
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO
NY NY OH OH OH OH OR
- ------------------------------------------------------------------------------------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
94 95 96 97 98 99 100
-- -- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
OR PA PA TN UT VA VA
- ------------------------------------------------------------------------------------------------------------------------------------
6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
101 102
--- ---
RITE AID RITE AID
- --------------------------------------------
VIRGINIA BEACH ESSEX
VA VT
- --------------------------------------------
2,880,897.05 1,907,352.37
- --------------------------------------------
6.739% 6.739%
- --------------------------------------------
10TH 10TH
- --------------------------------------------
<S> <C>
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
</TABLE>
Page 36
<PAGE>
BALANCE
<TABLE>
<CAPTION>
103 104 105 106 107 108
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------------------------------
MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE VERMILLION
VT WA WA WA WV OH
- --------------------------------------------------------------------------------------------------------------------------
1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75 1,689,673.43
- --------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 7.050%
- --------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,636,978.75 3,373,168.08 2,579,480.62 4,166,854.09 1,240,135.03 1,686,820.80
1,634,814.11 3,368,707.61 2,576,069.67 4,161,344.10 1,238,495.15 1,683,951.41
1,632,637.31 3,364,222.09 2,572,639.57 4,155,803.16 1,236,846.06 1,681,065.17
1,630,448.29 3,359,711.38 2,569,190.21 4,150,231.11 1,235,187.71 1,678,161.97
1,628,246.98 3,355,175.34 2,565,721.47 4,144,627.77 1,233,520.05 1,675,241.71
1,626,033.30 3,350,613.82 2,562,233.26 4,138,992.95 1,231,843.03 1,672,304.29
1,623,807.19 3,346,026.69 2,558,725.45 4,133,326.50 1,230,156.58 1,669,349.62
1,621,568.58 3,341,413.80 2,555,197.95 4,127,628.22 1,228,460.67 1,666,377.59
1,619,317.40 3,336,775.00 2,551,650.63 4,121,897.94 1,226,755.23 1,663,388.10
1,617,053.58 3,332,110.16 2,548,083.40 4,116,135.49 1,225,040.21 1,660,381.04
1,614,777.04 3,327,419.11 2,544,496.13 4,110,340.67 1,223,315.56 1,657,356.32
1,612,487.72 3,322,701.72 2,540,888.71 4,104,513.30 1,221,581.23 1,654,313.83
1,610,185.54 3,317,957.84 2,537,261.04 4,098,653.22 1,219,837.15 1,651,253.46
1,607,870.44 3,313,187.32 2,533,613.00 4,092,760.22 1,218,083.29 1,648,175.12
1,605,542.33 3,308,390.01 2,529,944.47 4,086,834.13 1,216,319.57 1,645,078.69
1,603,201.15 3,303,565.76 2,526,255.33 4,080,874.76 1,214,545.95 1,641,964.06
1,600,846.82 3,298,714.41 2,522,545.48 4,074,881.92 1,212,762.36 1,638,831.14
1,598,479.27 3,293,835.82 2,518,814.80 4,068,855.43 1,210,968.77 1,635,679.82
1,596,098.42 3,288,929.83 2,515,063.16 4,062,795.09 1,209,165.09 1,632,509.97
1,593,704.20 3,283,996.30 2,511,290.46 4,056,700.72 1,207,351.29 1,629,321.51
1,591,296.54 3,279,035.05 2,507,496.56 4,050,572.13 1,205,527.31 1,626,114.31
1,588,875.36 3,274,045.95 2,503,681.37 4,044,409.12 1,203,693.08 1,622,888.28
1,586,440.57 3,269,028.82 2,499,844.74 4,038,211.49 1,201,848.55 1,619,643.28
1,583,992.12 3,263,983.52 2,495,986.58 4,031,979.07 1,199,993.66 1,616,379.23
1,581,529.92 3,258,909.89 2,492,106.74 4,025,711.64 1,198,128.35 1,613,096.00
1,579,053.88 3,253,807.77 2,488,205.12 4,019,409.02 1,196,252.57 1,609,793.48
1,576,563.95 3,248,676.99 2,484,281.58 4,013,071.00 1,194,366.26 1,606,471.55
1,574,060.03 3,243,517.40 2,480,336.01 4,006,697.38 1,192,469.35 1,603,130.11
1,571,542.05 3,238,328.83 2,476,368.29 4,000,287.98 1,190,561.79 1,599,769.04
1,569,009.93 3,233,111.12 2,472,378.28 3,993,842.58 1,188,643.51 1,596,388.23
1,566,463.58 3,227,864.12 2,468,365.86 3,987,360.98 1,186,714.47 1,592,987.55
1,563,902.94 3,222,587.64 2,464,330.91 3,980,842.99 1,184,774.59 1,589,566.89
1,561,327.92 3,217,281.54 2,460,273.31 3,974,288.39 1,182,823.82 1,586,126.13
1,558,738.44 3,211,945.64 2,456,192.91 3,967,696.98 1,180,862.09 1,582,665.16
1,556,134.41 3,206,579.77 2,452,089.60 3,961,068.56 1,178,889.34 1,579,183.86
1,553,515.76 3,201,183.76 2,447,963.25 3,954,402.91 1,176,905.52 1,575,682.11
1,550,882.41 3,195,757.46 2,443,813.72 3,947,699.82 1,174,910.55 1,572,159.78
1,548,234.27 3,190,300.68 2,439,640.89 3,940,959.10 1,172,904.39 1,568,616.76
1,545,571.25 3,184,813.26 2,435,444.63 3,934,180.52 1,170,886.95 1,565,052.92
1,542,893.28 3,179,295.02 2,431,224.80 3,927,363.87 1,168,858.19 1,561,468.15
1,540,200.27 3,173,745.79 2,426,981.27 3,920,508.94 1,166,818.03 1,557,862.31
1,537,492.14 3,168,165.40 2,422,713.91 3,913,615.52 1,164,766.41 1,554,235.29
1,534,768.80 3,162,553.67 2,418,422.59 3,906,683.38 1,162,703.28 1,550,586.97
1,532,030.17 3,156,910.42 2,414,107.17 3,899,712.31 1,160,628.56 1,546,917.21
<CAPTION>
109 110 111 112 113
--- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------
TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
MI ME PA NY FL TOTAL
-----
- -------------------------------------------------------------------------------------------------
1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03 646,080,530.14
- -------------------------------------------------------------------------------------------------
7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------
10TH 1ST 1ST 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,571,754.68 1,822,456.93 2,685,918.63 1,678,613.36 3,055,623.03 645,325,192.55
1,568,374.55 1,818,757.78 2,683,282.57 1,675,963.95 3,046,194.60 644,613,488.06
1,564,973.99 1,815,035.15 2,680,629.67 1,673,297.46 3,036,708.35 643,897,251.78
1,561,552.87 1,811,288.87 2,677,959.81 1,670,613.77 3,027,163.92 643,110,370.16
1,558,111.08 1,807,518.80 2,675,272.89 1,667,912.77 3,017,560.94 642,384,982.30
1,554,648.48 1,803,724.80 2,672,568.79 1,665,194.34 3,007,899.07 641,654,974.51
1,551,164.96 1,799,906.70 2,669,847.41 1,662,458.39 2,998,177.94 640,790,321.02
1,547,660.38 1,796,064.36 2,667,108.64 1,659,704.78 2,988,397.18 639,987,892.01
1,544,134.61 1,792,197.62 2,664,352.36 1,656,933.42 2,978,556.44 639,178,231.98
1,540,587.54 1,788,306.32 2,661,578.46 1,654,144.18 2,968,655.34 638,294,998.65
1,537,019.03 1,784,390.32 2,658,786.83 1,651,336.95 2,958,693.51 637,475,078.77
1,533,428.95 1,780,449.45 2,655,977.36 1,648,511.61 2,948,670.58 636,650,133.01
1,529,817.17 1,776,483.55 2,653,149.93 1,645,668.05 2,938,586.18 635,750,350.02
1,526,183.56 1,772,492.47 2,650,304.43 1,642,806.15 2,928,439.93 634,915,002.73
1,522,527.98 1,768,476.05 2,647,440.74 1,639,925.79 2,918,231.45 634,074,377.98
1,518,850.32 1,764,434.12 2,644,558.75 1,637,026.85 2,907,960.36 633,132,586.05
1,515,150.42 1,760,366.53 2,641,658.34 1,634,109.22 2,897,626.27 632,256,221.88
1,511,428.16 1,756,273.10 2,638,739.39 1,631,172.76 2,887,228.79 630,132,566.71
1,507,683.41 1,752,153.69 2,635,801.78 1,628,217.37 2,876,767.55 629,172,960.37
1,503,916.02 1,748,008.11 2,632,845.40 1,625,242.91 2,866,242.14 628,279,939.87
1,500,125.86 1,743,836.22 2,629,870.12 1,622,249.26 2,855,652.18 627,275,137.66
1,496,312.79 1,739,637.83 2,626,875.82 1,619,236.31 2,844,997.27 626,297,341.26
1,492,476.67 1,735,412.78 2,623,862.39 1,616,203.93 2,834,277.01 625,387,308.98
1,488,617.37 1,731,160.90 2,620,829.69 1,613,151.98 2,823,490.99 624,363,719.13
1,484,734.74 1,726,882.02 2,617,777.61 1,610,080.35 2,812,638.82 623,367,602.28
1,480,828.64 1,722,575.97 2,614,706.02 1,606,988.91 2,801,720.09 622,440,450.46
1,476,898.94 1,718,242.58 2,611,614.80 1,603,877.53 2,790,734.40 621,397,611.24
1,472,945.48 1,713,881.67 2,608,503.82 1,600,746.08 2,779,681.32 620,382,605.53
1,468,968.13 1,709,493.07 2,605,372.96 1,597,594.43 2,768,560.45 619,437,785.44
1,464,966.74 1,705,076.60 2,602,222.09 1,594,422.45 2,757,371.38 618,375,273.22
1,460,941.16 1,700,632.08 2,599,051.07 1,591,230.02 2,746,113.68 617,341,053.30
1,456,891.25 1,696,159.35 2,595,859.79 1,588,016.99 2,734,786.93 616,378,261.12
1,452,816.87 1,691,658.21 2,592,648.11 1,584,783.24 2,723,390.71 615,295,737.82
1,448,717.85 1,687,128.49 2,589,415.90 1,581,528.63 2,711,924.59 614,241,898.94
1,444,594.07 1,682,570.00 2,586,163.04 1,578,253.03 2,700,388.15 613,260,751.99
1,440,445.35 1,677,982.57 2,582,889.38 1,574,956.31 2,688,780.95 612,157,968.15
1,436,271.57 1,673,366.01 2,579,594.80 1,571,638.31 2,677,102.56 611,084,363.47
1,432,072.55 1,668,720.14 2,576,279.16 1,568,298.92 2,665,352.54 610,084,738.80
1,427,848.16 1,664,044.76 2,572,942.32 1,564,937.99 2,653,530.46 608,958,871.38
1,423,598.23 1,659,339.69 2,569,584.16 1,561,555.38 2,641,635.86 607,862,553.02
1,419,322.61 1,654,604.75 2,566,204.54 1,558,150.95 2,629,668.32 606,841,080.12
1,415,021.16 1,649,839.74 2,562,803.31 1,554,724.57 2,617,627.37 605,693,529.27
1,410,693.70 1,645,044.47 2,559,380.35 1,551,276.08 2,605,512.57 604,574,046.79
1,406,340.09 1,640,218.76 2,555,935.50 1,547,805.35 2,593,323.47 603,531,157.99
</TABLE>
Page 37
<PAGE>
BALANCE
<TABLE>
<CAPTION>
103 104 105 106 107 108
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------------
MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE VERMILLION
VT WA WA WA WV OH
- -------------------------------------------------------------------------------------------------------------------------
1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75 1,689,673.43
- -------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 7.050%
- -------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,529,276.15 3,151,235.48 2,409,767.51 3,892,702.09 1,158,542.18 1,543,225.88
1,526,506.67 3,145,528.68 2,405,403.49 3,885,652.51 1,156,444.09 1,539,512.88
1,523,721.64 3,139,789.82 2,401,014.95 3,878,563.34 1,154,334.22 1,535,778.05
1,520,920.97 3,134,018.74 2,396,601.77 3,871,434.35 1,152,212.50 1,532,021.29
1,518,104.57 3,128,215.24 2,392,163.81 3,864,265.33 1,150,078.86 1,528,242.46
1,515,272.35 3,122,379.16 2,387,700.92 3,857,056.05 1,147,933.24 1,524,441.42
1,512,424.23 3,116,510.30 2,383,212.97 3,849,806.29 1,145,775.58 1,520,618.05
1,509,560.11 3,110,608.48 2,378,699.82 3,842,515.81 1,143,605.79 1,516,772.22
1,506,679.91 3,104,673.52 2,374,161.32 3,835,184.39 1,141,423.82 1,512,903.80
1,503,783.53 3,098,705.23 2,369,597.33 3,827,811.79 1,139,229.60 1,509,012.65
1,500,870.89 3,092,703.42 2,365,007.72 3,820,397.80 1,137,023.05 1,505,098.64
1,497,941.89 3,086,667.91 2,360,392.33 3,812,942.16 1,134,804.11 1,501,161.63
1,494,996.44 3,080,598.50 2,355,751.02 3,805,444.66 1,132,572.71 1,497,201.50
1,492,034.45 3,074,495.01 2,351,083.64 3,797,905.05 1,130,328.78 1,493,218.10
1,489,055.83 3,068,357.24 2,346,390.06 3,790,323.11 1,128,072.25 1,489,211.29
1,486,060.48 3,062,185.00 2,341,670.11 3,782,698.58 1,125,803.05 1,485,180.95
1,483,048.31 3,055,978.10 2,336,923.66 3,775,031.23 1,123,521.10 1,481,126.93
1,480,019.22 3,049,736.35 2,332,150.55 3,767,320.83 1,121,226.33 1,477,049.09
1,476,973.12 3,043,459.54 2,327,350.64 3,759,567.12 1,118,918.68 1,472,947.29
1,473,909.91 3,037,147.48 2,322,523.78 3,751,769.88 1,116,598.08 1,468,821.40
1,470,829.51 3,030,799.97 2,317,669.80 3,743,928.84 1,114,264.43 1,464,671.26
1,467,731.80 3,024,416.82 2,312,788.57 3,736,043.77 1,111,917.69 1,460,496.75
1,464,616.70 3,017,997.82 2,307,879.93 3,728,114.42 1,109,557.76 1,456,297.71
1,461,484.10 3,011,542.78 2,302,943.71 3,720,140.54 1,107,184.58 1,452,074.00
1,458,333.91 3,005,051.48 2,297,979.78 3,712,121.88 1,104,798.08 1,447,825.47
1,455,166.03 2,998,523.73 2,292,987.97 3,704,058.19 1,102,398.17 1,443,551.98
1,451,980.36 2,991,959.32 2,287,968.13 3,695,949.21 1,099,984.78 1,439,253.39
1,448,776.80 2,985,358.04 2,282,920.10 3,687,794.70 1,097,557.85 1,434,929.55
1,445,555.25 2,978,719.69 2,277,843.72 3,679,594.39 1,095,117.28 1,430,580.30
1,442,315.61 2,972,044.07 2,272,738.83 3,671,348.02 1,092,663.00 1,426,205.50
1,439,057.77 2,965,330.95 2,267,605.27 3,663,055.35 1,090,194.95 1,421,804.99
1,435,781.64 2,958,580.14 2,262,442.89 3,654,716.11 1,087,713.03 1,417,378.64
1,432,487.11 2,951,791.41 2,257,251.51 3,646,330.04 1,085,217.17 1,412,926.28
1,429,174.08 2,944,964.56 2,252,030.98 3,637,896.87 1,082,707.30 1,408,447.76
1,425,842.44 2,938,099.37 2,246,781.13 3,629,416.34 1,080,183.34 1,403,942.93
1,422,492.10 2,931,195.62 2,241,501.79 3,620,888.19 1,077,645.20 1,399,411.63
1,419,122.93 2,924,253.11 2,236,192.82 3,612,312.14 1,075,092.80 1,394,853.72
1,415,734.85 2,917,271.61 2,230,854.02 3,603,687.94 1,072,526.07 1,390,269.02
1,412,327.74 2,910,250.90 2,225,485.25 3,595,015.30 1,069,944.93 1,385,657.39
1,408,901.50 2,903,190.76 2,220,086.32 3,586,293.96 1,067,349.29 1,381,018.67
1,405,456.02 2,896,090.98 2,214,657.07 3,577,523.63 1,064,739.08 1,376,352.70
1,401,991.18 2,888,951.32 2,209,197.34 3,568,704.06 1,062,114.21 1,371,659.31
1,398,506.89 2,881,771.57 2,203,706.94 3,559,834.96 1,059,474.59 1,366,938.35
1,395,003.03 2,874,551.50 2,198,185.71 3,550,916.05 1,056,820.16 1,362,189.65
1,391,479.50 2,867,290.88 2,192,633.48 3,541,947.05 1,054,150.81 1,357,413.05
1,387,936.18 2,859,989.49 2,187,050.06 3,532,927.68 1,051,466.48 1,352,608.40
1,384,372.95 2,852,647.10 2,181,435.29 3,523,857.67 1,048,767.07 1,347,775.51
1,380,789.72 2,845,263.47 2,175,788.99 3,514,736.72 1,046,052.50 1,342,914.23
1,377,186.37 2,837,838.37 2,170,110.98 3,505,564.54 1,043,322.69 1,338,024.39
1,373,562.78 2,830,371.58 2,164,401.08 3,496,340.86 1,040,577.54 1,333,105.83
1,369,918.83 2,822,862.85 2,158,659.11 3,487,065.37 1,037,816.98 1,328,158.36
1,366,254.43 2,815,311.96 2,152,884.90 3,477,737.80 1,035,040.92 1,323,181.83
1,362,569.45 2,807,718.66 2,147,078.27 3,468,357.85 1,032,249.27 1,318,176.07
1,358,863.77 2,800,082.72 2,141,239.02 3,458,925.22 1,029,441.94 1,313,140.89
1,355,137.28 2,792,403.90 2,135,366.98 3,449,439.62 1,026,618.84 1,308,076.13
1,351,389.87 2,784,681.96 2,129,461.97 3,439,900.74 1,023,779.89 1,302,981.62
1,347,621.41 2,776,916.65 2,123,523.79 3,430,308.30 1,020,925.00 1,297,857.18
1,343,831.79 2,769,107.73 2,117,552.27 3,420,661.99 1,018,054.07 1,292,702.63
1,340,020.88 2,761,254.95 2,111,547.21 3,410,961.51 1,015,167.03 1,287,517.80
<CAPTION>
109 110 111 112 113
--- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID WARNER
- --------------------------------------------------------------------------------------------------
TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
MI ME PA NY FL TOTAL
-----
- --------------------------------------------------------------------------------------------------
1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03 646,080,530.14
- --------------------------------------------------------------------------------------------------
7.253% 7.620% 7.670% 7.740% 7.360%
- --------------------------------------------------------------------------------------------------
10TH 1ST 1ST 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,401,960.16 1,635,362.40 2,552,468.64 1,544,312.23 2,581,059.60 602,359,994.10
1,397,553.76 1,630,475.20 2,548,979.62 1,540,796.59 2,568,720.52 601,090,966.30
1,393,120.73 1,625,556.96 2,545,468.30 1,537,258.27 2,556,305.76 600,028,186.94
1,388,660.90 1,620,607.50 2,541,934.53 1,533,697.12 2,543,814.86 598,835,086.85
1,384,174.12 1,615,626.61 2,538,378.18 1,530,113.01 2,531,247.34 597,542,393.10
1,379,660.22 1,610,614.09 2,534,799.10 1,526,505.78 2,518,602.74 596,454,184.92
1,375,119.04 1,605,569.74 2,531,197.14 1,522,875.28 2,505,880.59 595,233,179.04
1,370,550.41 1,600,493.36 2,527,572.16 1,519,221.37 2,493,080.42 593,910,648.80
1,365,954.16 1,595,384.74 2,523,924.01 1,515,543.88 2,480,201.73 592,772,928.79
1,361,330.14 1,590,243.68 2,520,252.54 1,511,842.68 2,467,244.05 591,499,936.54
1,356,678.16 1,585,069.98 2,516,557.60 1,508,117.61 2,454,206.90 590,123,424.07
1,351,998.07 1,579,863.42 2,512,839.05 1,504,368.50 2,441,089.79 588,961,800.49
1,347,289.69 1,574,623.81 2,509,096.73 1,500,595.22 2,427,892.23 587,662,545.37
1,342,552.86 1,569,350.92 2,505,330.49 1,496,797.60 2,414,613.72 586,221,981.90
1,337,787.39 1,564,044.54 2,499,559.84 1,492,975.49 2,401,253.77 585,036,213.42
1,332,993.12 1,558,704.48 2,493,752.30 1,489,128.72 2,387,811.88 583,710,601.26
1,328,169.87 1,553,330.50 2,487,907.64 1,485,257.14 2,374,287.55 582,241,094.59
1,323,317.47 1,547,922.40 2,482,025.63 1,481,360.59 2,360,680.27 581,032,950.27
1,318,435.74 1,542,479.96 2,476,106.02 1,477,438.90 2,346,989.52 579,682,350.25
1,313,524.51 1,537,002.95 2,470,148.57 1,473,491.92 2,333,214.81 578,185,102.29
1,308,583.59 1,531,491.17 2,464,153.05 1,469,519.49 2,319,355.62 576,953,896.82
1,303,612.81 1,525,944.39 2,458,119.21 1,465,521.43 2,305,411.42 575,577,766.08
1,298,611.98 1,520,362.39 2,452,046.79 1,461,497.58 2,291,381.70 574,052,290.11
1,293,580.93 1,514,744.94 2,445,935.57 1,457,447.78 2,277,265.92 572,797,620.98
1,288,519.47 1,509,091.82 2,439,785.28 1,453,371.86 2,263,063.57 571,393,007.89
1,283,427.41 1,503,402.80 2,433,595.69 1,449,269.65 2,248,774.12 569,836,203.21
1,278,304.58 1,497,677.66 2,427,366.53 1,445,140.97 2,234,397.02 568,555,041.04
1,273,150.79 1,491,916.17 2,421,097.56 1,440,985.67 2,219,931.74 567,124,067.03
1,267,965.84 1,486,118.08 2,414,788.52 1,436,803.57 2,205,377.74 565,538,127.69
1,262,749.56 1,480,283.18 2,408,439.15 1,432,594.49 2,190,734.48 564,232,769.08
1,257,501.75 1,474,411.23 2,402,049.20 1,428,358.27 2,176,001.40 562,774,804.17
1,252,222.22 1,468,501.99 2,395,618.41 1,424,094.72 2,161,177.97 561,158,910.23
1,246,910.78 1,462,555.23 2,389,146.51 1,419,803.67 2,146,263.61 559,828,621.95
1,241,567.23 1,456,570.71 2,382,633.25 1,415,484.94 2,131,257.78 558,107,146.66
1,236,191.39 1,450,548.18 2,376,078.36 1,411,138.36 2,116,159.91 556,460,770.96
1,230,783.06 1,444,487.41 2,369,481.57 1,406,763.75 2,100,969.45 555,105,116.15
1,225,342.04 1,438,388.16 2,362,842.62 1,402,360.91 2,085,685.82 553,351,519.05
1,219,868.13 1,432,250.17 2,356,161.23 1,397,929.68 2,070,308.44 551,674,035.87
1,214,361.14 1,426,073.21 2,349,437.14 1,393,469.87 2,054,836.75 550,292,480.37
1,208,820.86 1,419,857.02 2,342,670.06 1,388,981.29 2,039,270.17 548,506,315.38
1,203,247.09 1,413,601.37 2,335,859.74 1,384,463.76 2,023,608.12 546,797,409.65
1,197,639.64 1,407,305.98 2,329,005.89 1,379,917.09 2,007,850.00 545,389,733.58
1,191,998.29 1,400,970.63 2,322,108.23 1,375,341.09 1,991,995.23 543,570,253.53
1,186,322.85 1,394,595.04 2,315,166.48 1,370,735.58 1,976,043.22 541,829,047.75
1,180,613.10 1,388,178.97 2,308,180.36 1,366,100.37 1,959,993.37 540,394,466.96
1,174,868.84 1,381,722.16 2,301,149.59 1,361,435.25 1,943,845.09 538,540,970.46
1,169,089.87 1,375,224.34 2,294,073.88 1,356,740.05 1,927,597.76 536,766,894.56
1,163,275.96 1,368,685.27 2,286,952.95 1,352,014.56 1,911,250.78 535,304,936.13
1,157,426.91 1,362,104.67 2,279,786.50 1,347,258.60 1,894,803.53 533,416,827.21
1,151,542.52 1,355,482.28 2,272,574.24 1,342,471.96 1,878,255.42 531,609,207.34
1,145,622.55 1,348,817.84 2,265,315.89 1,337,654.44 1,861,605.80 530,119,295.45
1,139,666.80 1,342,111.09 2,258,011.14 1,332,805.85 1,844,854.07 528,196,088.78
1,133,675.06 1,335,361.74 2,250,659.71 1,327,925.99 1,827,999.60 526,354,576.65
1,127,647.10 1,328,569.54 2,243,261.29 1,323,014.65 1,811,041.75 524,836,465.44
1,121,582.71 1,321,734.21 2,235,815.57 1,318,071.64 1,793,979.89 522,874,659.96
1,115,481.66 1,314,855.47 2,228,322.27 1,313,096.74 1,776,813.39 520,995,602.84
1,109,343.74 1,307,933.05 2,220,781.08 1,308,089.75 1,759,541.60 519,445,293.93
1,103,168.72 1,300,966.68 2,213,191.68 1,303,050.47 1,742,163.87 517,446,355.49
1,096,956.37 1,293,956.06 2,205,553.77 1,297,978.69 1,724,679.56 515,529,307.70
</TABLE>
Page 38
<PAGE>
BALANCE
<TABLE>
<CAPTION>
103 104 105 106 107 108
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------------------------------
MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE VERMILLION
VT WA WA WA WV OH
- --------------------------------------------------------------------------------------------------------------------------
1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75 1,689,673.43
- --------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 7.050%
- --------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,336,188.58 2,753,358.08 2,105,508.42 3,401,206.55 1,012,263.76 1,282,302.50
1,332,334.75 2,745,416.86 2,099,435.73 3,391,396.81 1,009,344.20 1,277,056.57
1,328,459.28 2,737,431.05 2,093,328.93 3,381,531.98 1,006,408.24 1,271,779.82
1,324,562.04 2,729,400.38 2,087,187.84 3,371,611.75 1,003,455.79 1,266,472.06
1,320,642.92 2,721,324.62 2,081,012.26 3,361,635.81 1,000,486.76 1,261,133.13
1,316,701.79 2,713,203.51 2,074,801.99 3,351,603.85 997,501.06 1,255,762.82
1,312,738.53 2,705,036.78 2,068,556.86 3,341,515.54 994,498.59 1,250,360.97
1,308,753.01 2,696,824.20 2,062,276.65 3,331,370.59 991,479.25 1,244,927.38
1,304,745.11 2,688,565.50 2,055,961.17 3,321,168.66 988,442.97 1,239,461.87
1,300,714.70 2,680,260.41 2,049,610.22 3,310,909.44 985,389.63 1,233,964.25
1,296,661.66 2,671,908.69 2,043,223.61 3,300,592.61 982,319.14 1,228,434.33
1,292,585.85 2,663,510.06 2,036,801.14 3,290,217.83 979,231.41 1,222,871.92
1,288,487.16 2,655,064.27 2,030,342.59 3,279,784.80 976,126.34 1,217,276.83
1,284,365.45 2,646,571.05 2,023,847.78 3,269,293.17 973,003.83 1,211,648.87
1,280,220.59 2,638,030.13 2,017,316.49 3,258,742.63 969,863.79 1,205,987.85
1,276,052.46 2,629,441.25 2,010,748.52 3,248,132.84 966,706.12 1,200,293.57
1,271,860.92 2,620,804.13 2,004,143.67 3,237,463.46 963,530.71 1,194,565.83
1,267,645.84 2,612,118.51 1,997,501.73 3,226,734.16 960,337.46 1,188,804.45
1,263,407.08 2,603,384.11 1,990,822.48 3,215,944.61 957,126.29 1,183,009.21
1,259,144.53 2,594,600.66 1,984,105.73 3,205,094.47 953,897.08 1,177,179.93
1,254,858.03 2,585,767.89 1,977,351.26 3,194,183.40 950,649.74 1,171,316.41
1,250,547.47 2,576,885.51 1,970,558.85 3,183,211.05 947,384.16 1,165,418.43
1,246,212.69 2,567,953.25 1,963,728.30 3,172,177.08 944,100.24 1,159,485.80
1,241,853.57 2,558,970.83 1,956,859.40 3,161,081.15 940,797.88 1,153,518.32
1,237,469.98 2,549,937.96 1,949,951.91 3,149,922.91 937,476.97 1,147,515.78
1,233,061.76 2,540,854.37 1,943,005.64 3,138,702.00 934,137.42 1,141,477.98
1,228,628.79 2,531,719.76 1,936,020.35 3,127,418.08 930,779.11 1,135,404.70
1,224,170.93 2,522,533.86 1,928,995.84 3,116,070.78 927,401.94 1,129,295.74
1,219,688.03 2,513,296.37 1,921,931.88 3,104,659.77 924,005.80 1,123,150.90
1,215,179.95 2,504,007.00 1,914,828.25 3,093,184.67 920,590.60 1,116,969.95
1,210,646.56 2,494,665.47 1,907,684.72 3,081,645.13 917,156.21 1,110,752.69
1,206,087.71 2,485,271.47 1,900,501.08 3,070,040.79 913,702.54 1,104,498.90
1,201,503.26 2,475,824.72 1,893,277.10 3,058,371.27 910,229.47 1,098,208.37
1,196,893.06 2,466,324.92 1,886,012.55 3,046,636.23 906,736.89 1,091,880.88
1,192,256.97 2,456,771.77 1,878,707.20 3,034,835.28 903,224.71 1,085,516.22
1,187,594.85 2,447,164.97 1,871,360.83 3,022,968.06 899,692.80 1,079,114.17
1,182,906.54 2,437,504.22 1,863,973.20 3,011,034.19 896,141.05 1,072,674.51
1,178,191.91 2,427,789.22 1,856,544.08 2,999,033.31 892,569.36 1,066,197.01
1,173,450.80 2,418,019.66 1,849,073.24 2,986,965.03 888,977.61 1,059,681.46
1,168,683.06 2,408,195.24 1,841,560.45 2,974,828.98 885,365.69 1,053,127.63
1,163,888.55 2,398,315.64 1,834,005.47 2,962,624.77 881,733.49 1,046,535.29
1,159,067.11 2,388,380.56 1,826,408.06 2,950,352.03 878,080.88 1,039,904.23
1,154,218.60 2,378,389.69 1,818,767.98 2,938,010.36 874,407.77 1,033,234.20
1,149,342.86 2,368,342.71 1,811,085.00 2,925,599.39 870,714.03 1,026,524.99
1,144,439.74 2,358,239.31 1,803,358.87 2,913,118.72 866,999.54 1,019,776.37
1,139,509.08 2,348,079.16 1,795,589.35 2,900,567.96 863,264.20 1,012,988.09
1,134,550.73 2,337,861.97 1,787,776.20 2,887,946.71 859,507.88 1,006,159.94
1,129,564.54 2,327,587.39 1,779,919.18 2,875,254.59 855,730.46 999,291.67
1,124,550.35 2,317,255.11 1,772,018.03 2,862,491.19 851,931.83 992,383.05
1,119,508.00 2,306,864.81 1,764,072.50 2,849,656.11 848,111.87 985,433.84
1,114,437.33 2,296,416.16 1,756,082.36 2,836,748.96 844,270.45 978,443.80
1,109,338.18 2,285,908.83 1,748,047.35 2,823,769.32 840,407.46 971,412.70
1,104,210.40 2,275,342.49 1,739,967.21 2,810,716.79 836,522.78 964,340.29
1,099,053.82 2,264,716.82 1,731,841.69 2,797,590.95 832,616.28 957,226.33
1,093,868.28 2,254,031.47 1,723,670.55 2,784,391.41 828,687.85 950,070.57
1,088,653.63 2,243,286.11 1,715,453.52 2,771,117.74 824,737.35 942,872.78
1,083,409.68 2,232,480.41 1,707,190.34 2,757,769.52 820,764.67 935,632.69
1,078,136.29 2,221,614.03 1,698,880.75 2,744,346.34 816,769.68 928,350.08
1,072,833.29 2,210,686.63 1,690,524.50 2,730,847.79 812,752.25 921,024.67
<CAPTION>
109 110 111 112 113
--- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------
TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
MI ME PA NY FL TOTAL
-----
- -------------------------------------------------------------------------------------------------
1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03 646,080,530.14
- -------------------------------------------------------------------------------------------------
7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------
10TH 1ST 1ST 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,090,706.48 1,286,900.94 2,197,867.05 1,292,874.19 1,707,088.02 513,947,320.22
1,084,418.81 1,279,801.01 2,190,131.19 1,287,736.77 1,689,388.58 511,908,942.29
1,078,093.14 1,272,655.99 2,182,345.89 1,282,566.21 1,671,580.58 509,802,951.76
1,071,729.23 1,265,465.61 2,174,510.82 1,277,362.30 1,653,663.36 508,190,699.72
1,065,326.86 1,258,229.57 2,166,625.68 1,272,124.83 1,635,636.25 506,114,401.07
1,058,885.80 1,250,947.57 2,158,690.14 1,266,853.57 1,617,498.57 503,969,074.53
1,052,405.80 1,243,619.34 2,150,703.88 1,261,548.32 1,599,249.65 502,320,109.70
1,045,886.64 1,236,244.57 2,142,666.57 1,256,208.85 1,580,888.80 500,198,810.06
1,039,328.07 1,228,822.98 2,134,577.89 1,250,834.93 1,562,415.34 486,792,749.79
1,032,729.86 1,221,354.25 2,126,437.51 1,245,426.36 1,543,828.57 485,142,691.84
1,026,091.77 1,213,838.10 2,118,245.10 1,239,982.90 1,525,127.81 483,012,336.04
1,019,413.56 1,206,274.22 2,110,000.33 1,234,504.33 1,506,312.35 478,056,657.25
1,012,694.99 1,198,662.31 2,101,702.86 1,228,990.42 1,487,381.48 476,387,065.89
1,005,935.80 1,191,002.07 2,093,352.35 1,223,440.95 1,468,334.51 474,228,954.38
999,135.77 1,183,293.18 2,084,948.47 1,217,855.68 1,449,170.71 471,954,638.11
992,294.63 1,175,535.35 2,074,312.53 1,212,234.39 1,429,889.38 470,250,878.98
985,412.15 1,167,728.24 2,063,608.60 1,206,576.84 1,410,489.79 468,050,385.85
978,488.06 1,159,871.57 2,052,836.26 1,200,882.81 1,390,971.21 465,731,295.84
971,522.13 1,151,965.00 2,041,995.07 1,195,152.04 1,371,332.92 463,995,209.67
964,514.09 1,144,008.23 2,031,084.58 1,189,384.31 1,351,574.18 461,753,570.71
957,463.69 1,136,000.93 2,020,104.35 1,183,579.38 1,331,694.26 459,390,738.47
950,370.68 1,127,942.79 2,009,053.95 1,177,737.01 1,311,692.40 457,621,375.35
943,234.80 1,119,833.48 1,997,932.91 1,171,856.95 1,291,567.87 455,337,727.34
936,055.79 1,111,672.67 1,986,740.79 1,165,938.97 1,271,319.91 452,930,373.41
928,833.39 1,103,460.04 1,975,477.14 1,159,982.81 1,250,947.76 451,127,142.14
921,567.33 1,095,195.26 1,964,141.49 1,153,988.24 1,230,450.66 448,797,837.32
914,257.36 1,086,878.00 1,952,733.39 1,147,955.01 1,209,827.84 446,342,137.20
906,903.20 1,078,507.93 1,941,252.37 1,141,882.86 1,189,078.54 444,501,388.71
899,504.59 1,070,084.70 1,929,697.96 1,135,771.54 1,168,201.97 442,128,669.89
892,061.27 1,061,607.99 1,918,069.71 1,129,620.81 1,147,197.36 439,626,970.22
884,572.96 1,053,077.45 1,906,367.13 1,123,430.40 1,126,063.93 437,751,264.16
877,039.38 1,044,492.74 1,894,589.76 1,117,200.07 1,104,800.87 425,547,870.16
869,460.28 1,035,853.52 1,882,737.10 1,110,929.55 1,083,407.41 423,049,770.00
861,835.36 1,027,159.44 1,870,808.69 1,104,618.58 1,061,882.72 421,189,204.02
854,164.35 1,018,410.15 1,858,804.04 1,098,266.91 1,040,226.03 418,497,417.73
846,446.99 1,009,605.31 1,846,722.65 1,091,874.28 1,018,436.50 415,952,172.91
838,682.97 1,000,744.55 1,834,564.05 1,085,440.40 996,513.33 414,055,908.17
830,872.03 991,827.53 1,822,327.73 1,078,965.03 974,455.70 411,314,079.70
823,013.88 982,853.88 1,810,013.20 1,072,447.90 952,262.78 408,720,733.91
815,108.23 973,823.26 1,797,619.96 1,065,888.73 929,933.74 406,788,020.03
807,154.80 964,735.28 1,785,147.51 1,059,287.25 907,467.76 403,995,412.77
799,153.30 955,589.60 1,772,595.34 1,052,643.19 884,863.98 401,353,403.10
791,103.44 946,385.85 1,759,962.94 1,045,956.28 862,121.57 399,383,889.11
783,004.92 937,123.65 1,747,249.79 1,039,226.24 839,239.66 396,539,378.56
774,857.45 927,802.63 1,734,455.39 1,032,452.79 816,217.42 393,847,421.59
766,660.74 918,422.43 1,721,579.21 1,025,635.65 793,053.97 391,840,034.77
758,414.48 908,982.66 1,708,620.73 1,018,774.54 769,748.46 388,942,551.96
750,118.39 899,482.95 1,695,579.43 1,011,869.18 746,300.00 386,199,753.03
741,772.15 889,922.92 1,682,454.76 1,004,919.27 722,707.73 384,153,816.51
733,375.46 880,302.18 1,669,246.21 997,924.54 698,970.76 381,202,423.75
724,928.03 870,620.35 1,655,953.24 990,884.69 675,088.20 378,407,752.66
716,429.53 860,877.04 1,642,575.30 983,799.44 651,059.16 376,322,456.72
707,879.67 851,071.86 1,629,111.85 976,668.49 626,882.74 373,316,354.45
699,278.13 841,204.41 1,615,562.35 969,491.54 602,558.04 370,469,193.03
690,624.61 831,274.31 1,601,926.25 962,268.30 578,084.15 368,345,505.61
681,918.78 821,281.15 1,588,202.99 954,998.47 553,460.15 365,324,239.40
673,160.33 811,224.54 1,574,392.01 947,681.75 528,685.13 362,464,191.59
664,348.94 801,104.06 1,560,492.76 940,317.84 503,758.15 360,339,022.39
655,484.30 790,919.32 1,546,504.67 932,906.43 478,678.29 357,260,934.32
</TABLE>
Page 39
<PAGE>
BALANCE
<TABLE>
<CAPTION>
103 104 105 106 107 108
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------------------------------
MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE VERMILLION
VT WA WA WA WV OH
- --------------------------------------------------------------------------------------------------------------------------
1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75 1,689,673.43
- --------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 7.050%
- --------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,067,500.50 2,199,697.85 1,682,121.33 2,717,273.42 808,712.26 913,656.23
1,062,137.76 2,188,647.37 1,673,670.96 2,703,622.83 804,649.58 906,244.50
1,056,744.91 2,177,534.83 1,665,173.14 2,689,895.57 800,564.09 898,789.23
1,051,321.77 2,166,359.88 1,656,627.59 2,676,091.23 796,455.66 891,290.16
1,045,868.18 2,155,122.18 1,648,034.06 2,662,209.36 792,324.15 883,747.03
1,040,383.96 2,143,821.36 1,639,392.26 2,648,249.53 788,169.44 876,159.58
1,034,868.95 2,132,457.09 1,630,701.94 2,634,211.31 783,991.40 868,527.56
1,029,322.96 2,121,028.99 1,621,962.81 2,620,094.25 779,789.89 860,850.70
1,023,745.82 2,109,536.72 1,613,174.60 2,605,897.92 775,564.79 853,128.73
1,018,137.37 2,097,979.90 1,604,337.04 2,591,621.85 771,315.96 845,361.41
1,012,497.42 2,086,358.19 1,595,449.85 2,577,265.62 767,043.28 837,548.44
1,006,825.80 2,074,671.21 1,586,512.75 2,562,828.76 762,746.59 829,689.58
1,001,122.32 2,062,918.60 1,577,525.46 2,548,310.83 758,425.78 821,784.55
995,386.82 2,051,099.98 1,568,487.70 2,533,711.37 754,080.70 813,833.07
989,619.11 2,039,215.00 1,559,399.19 2,519,029.92 749,711.23 805,834.88
983,819.00 2,027,263.27 1,550,259.63 2,504,266.03 745,317.21 797,789.70
977,986.33 2,015,244.42 1,541,068.75 2,489,419.22 740,898.52 789,697.26
972,120.89 2,003,158.08 1,531,826.26 2,474,489.03 736,455.01 781,557.27
966,222.52 1,991,003.86 1,522,531.86 2,459,475.00 731,986.55 773,369.46
960,291.03 1,978,781.39 1,513,185.26 2,444,376.65 727,492.99 765,133.54
954,326.22 1,966,490.27 1,503,786.18 2,429,193.51 722,974.20 756,849.24
948,327.92 1,954,130.14 1,494,334.31 2,413,925.11 718,430.03 748,516.27
942,295.93 1,941,700.59 1,484,829.36 2,398,570.96 713,860.35 740,134.34
936,230.07 1,929,201.23 1,475,271.04 2,383,130.58 709,265.00 731,703.17
930,130.14 1,916,631.68 1,465,659.03 2,367,603.50 704,643.84 723,222.47
923,995.95 1,903,991.55 1,455,993.05 2,351,989.21 699,996.73 714,691.94
917,827.32 1,891,280.43 1,446,272.79 2,336,287.24 695,323.53 706,111.30
911,624.05 1,878,497.92 1,436,497.93 2,320,497.09 690,624.08 697,480.24
905,385.94 1,865,643.64 1,426,668.19 2,304,618.27 685,898.24 688,798.48
899,112.79 1,852,717.16 1,416,783.24 2,288,650.27 681,145.86 680,065.71
892,804.42 1,839,718.09 1,406,842.77 2,272,592.60 676,366.79 671,281.63
886,460.62 1,826,646.02 1,396,846.49 2,256,444.75 671,560.88 662,445.95
880,081.20 1,813,500.54 1,386,794.07 2,240,206.22 666,727.99 653,558.36
873,665.95 1,800,281.24 1,376,685.19 2,223,876.49 661,867.95 644,618.56
867,214.67 1,786,987.70 1,366,519.54 2,207,455.06 656,980.62 635,626.23
860,727.16 1,773,619.50 1,356,296.81 2,190,941.41 652,065.85 626,581.08
854,203.22 1,760,176.23 1,346,016.67 2,174,335.02 647,123.47 617,482.78
847,642.64 1,746,657.47 1,335,678.79 2,157,635.38 642,153.34 608,331.03
841,045.22 1,733,062.79 1,325,282.86 2,140,841.95 637,155.29 599,125.52
834,410.75 1,719,391.76 1,314,828.55 2,123,954.21 632,129.18 589,865.92
827,739.03 1,705,643.96 1,304,315.53 2,106,971.63 627,074.84 580,551.92
821,029.83 1,691,818.95 1,293,743.47 2,089,893.68 621,992.12 571,183.20
814,282.96 1,677,916.30 1,283,112.03 2,072,719.83 616,880.85 561,759.45
807,498.19 1,663,935.58 1,272,420.90 2,055,449.53 611,740.88 552,280.32
800,675.33 1,649,876.34 1,261,669.72 2,038,082.24 606,572.05 542,745.51
793,814.15 1,635,738.15 1,250,858.17 2,020,617.42 601,374.19 533,154.68
786,914.44 1,621,520.57 1,239,985.90 2,003,054.52 596,147.13 523,507.50
779,975.98 1,607,223.14 1,229,052.57 1,985,392.99 590,890.73 513,803.65
772,998.55 1,592,845.41 1,218,057.85 1,967,632.28 585,604.80 504,042.79
765,981.94 1,578,386.95 1,207,001.38 1,949,771.82 580,289.19 494,224.58
758,925.93 1,563,847.29 1,195,882.82 1,931,811.07 574,943.73 484,348.69
751,830.29 1,549,225.97 1,184,701.81 1,913,749.44 569,568.25 474,414.77
744,694.80 1,534,522.55 1,173,458.02 1,895,586.39 564,162.58 464,422.50
737,519.25 1,519,736.55 1,162,151.09 1,877,321.34 558,726.55 454,371.52
730,303.39 1,504,867.52 1,150,780.65 1,858,953.71 553,259.99 444,261.50
723,047.01 1,489,914.98 1,139,346.37 1,840,482.94 547,762.74 434,092.07
715,749.89 1,474,878.48 1,127,847.87 1,821,908.43 542,234.61 423,862.90
708,411.78 1,459,757.53 1,116,284.79 1,803,229.62 536,675.44 413,573.64
701,032.46 1,444,551.66 1,104,656.78 1,784,445.90 531,085.05 403,223.92
<CAPTION>
109 110 111 112 113
--- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------
TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
MI ME PA NY FL TOTAL
-----
- -------------------------------------------------------------------------------------------------
1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03 646,080,530.14
- -------------------------------------------------------------------------------------------------
7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------
10TH 1ST 1ST 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
646,566.07 780,669.91 1,532,427.17 925,447.21 453,444.60 354,344,136.10
637,593.95 770,355.42 1,518,259.70 917,939.89 428,056.15 352,175,835.91
628,567.59 759,975.42 1,504,001.67 910,384.14 402,511.98 349,038,158.16
619,486.68 749,529.52 1,489,652.51 902,779.66 376,811.14 345,884,377.90
610,350.88 739,017.28 1,475,211.63 895,126.13 350,952.67 343,674,221.74
601,159.86 728,438.29 1,460,678.45 887,423.23 324,935.60 340,478,247.54
591,913.29 717,792.12 1,446,052.38 879,670.65 298,758.96 337,265,309.56
582,610.84 707,078.35 1,431,332.82 871,868.07 272,421.76 335,005,755.19
573,252.15 696,296.55 1,416,519.19 864,015.15 245,923.04 331,743,026.50
563,836.90 685,446.28 1,401,610.86 856,111.59 219,261.79 328,565,849.68
554,364.75 674,527.12 1,386,607.25 848,157.05 192,437.01 326,447,097.09
544,835.34 663,538.61 1,371,507.74 840,151.21 165,447.71 323,308,909.05
535,248.34 652,480.33 1,356,311.72 832,093.72 138,292.88 320,152,709.19
525,603.39 641,351.83 1,341,018.58 823,984.27 110,971.49 317,990,446.20
515,900.14 630,152.67 1,325,627.68 815,822.50 83,482.54 314,791,139.54
506,138.25 618,882.39 1,310,138.41 807,608.10 55,824.99 311,521,958.42
496,317.35 607,540.54 1,292,153.93 799,340.71 27,997.80 309,315,106.13
486,437.10 596,126.67 1,274,054.50 791,020.00 0.00 306,053,600.32
476,497.12 584,640.33 1,255,839.38 782,645.62 0.00 302,748,413.45
466,497.07 573,081.04 1,237,507.83 774,217.22 0.00 300,527,245.86
456,436.58 561,448.36 1,219,059.12 765,734.46 0.00 297,233,090.63
446,315.28 549,741.81 1,200,492.49 757,196.99 0.00 293,865,034.20
436,132.80 537,960.92 1,181,807.19 748,604.45 0.00 291,600,478.65
425,888.78 526,105.22 1,163,002.46 739,956.49 0.00 288,244,416.81
415,582.84 514,174.24 1,144,077.53 731,252.75 0.00 284,812,351.58
405,214.61 502,167.49 1,125,031.64 722,492.87 0.00 282,503,619.92
394,783.72 490,084.51 1,105,864.02 713,676.49 0.00 279,084,544.24
384,289.78 477,924.79 1,086,573.89 704,803.24 0.00 275,587,171.65
373,732.41 465,687.86 1,067,160.45 695,872.76 0.00 273,233,322.27
363,111.23 453,373.23 1,047,622.94 686,884.68 0.00 269,750,283.87
352,425.85 440,980.40 1,027,960.54 677,838.63 0.00 266,186,780.73
341,675.90 428,508.88 1,008,172.48 668,734.23 0.00 263,787,356.72
330,860.96 415,958.16 988,257.93 659,571.10 0.00 260,238,933.85
319,980.66 403,327.74 968,216.09 650,348.88 0.00 256,607,598.34
309,034.60 390,617.13 948,046.16 641,067.17 0.00 254,161,265.03
298,022.37 377,825.79 927,747.30 631,725.59 0.00 250,211,994.51
286,943.59 364,953.24 907,318.70 622,323.76 0.00 246,511,594.36
275,797.84 351,998.94 886,759.53 612,861.29 0.00 244,017,497.00
264,584.73 338,962.38 866,068.95 603,337.78 0.00 239,994,534.32
253,303.85 325,843.05 845,246.13 593,752.85 0.00 236,223,669.57
241,954.78 312,640.40 824,290.21 584,106.10 0.00 233,680,791.10
230,537.11 299,353.92 803,200.35 574,397.12 0.00 229,583,006.06
219,050.44 285,983.06 781,975.69 564,625.52 0.00 225,740,774.70
207,494.33 272,527.30 760,615.36 554,790.90 0.00 223,148,607.14
195,868.39 258,986.10 739,118.51 544,892.84 0.00 218,974,368.81
184,172.17 245,358.92 717,484.26 534,930.94 0.00 215,124,788.05
172,405.25 231,645.19 695,711.73 524,904.78 0.00 212,548,165.55
160,567.22 217,844.39 673,800.04 514,813.96 0.00 208,362,605.79
148,657.63 203,955.95 651,748.30 504,658.05 0.00 204,439,778.03
136,676.07 189,979.32 629,555.60 494,436.63 0.00 201,812,793.69
124,622.08 175,913.94 607,221.06 484,149.29 0.00 197,549,115.61
112,495.24 161,759.25 584,743.77 473,795.59 0.00 193,551,555.84
100,295.10 147,514.67 562,122.81 463,375.11 0.00 190,873,136.51
88,021.22 133,179.63 539,357.26 452,887.42 0.00 186,530,138.71
75,673.15 118,753.58 516,446.20 442,332.09 0.00 182,456,884.86
63,250.45 104,235.91 493,388.70 431,708.67 0.00 179,726,491.34
50,752.67 89,626.06 470,183.83 421,016.73 0.00 175,302,448.21
38,179.35 74,923.43 446,830.64 410,255.83 0.00 171,152,639.62
25,530.03 60,127.45 423,328.18 399,425.52 0.00 168,384,899.33
</TABLE>
Page 40
<PAGE>
BALANCE
<TABLE>
<CAPTION>
103 104 105 106 107 108
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------------------------------
MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE VERMILLION
VT WA WA WA WV OH
- --------------------------------------------------------------------------------------------------------------------------
1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75 1,689,673.43
- --------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 7.050%
- --------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
693,611.70 1,429,260.40 1,092,963.47 1,765,556.70 525,463.27 392,813.40
686,149.27 1,413,883.27 1,081,204.49 1,746,561.43 519,809.91 382,341.72
678,644.93 1,398,419.79 1,069,379.47 1,727,459.47 514,124.81 371,808.52
671,098.45 1,382,869.46 1,057,488.05 1,708,250.25 508,407.78 361,213.44
663,509.58 1,367,231.80 1,045,529.85 1,688,933.15 502,658.64 350,556.10
655,878.10 1,351,506.33 1,033,504.49 1,669,507.56 496,877.22 339,836.16
648,203.76 1,335,692.54 1,021,411.60 1,649,972.89 491,063.33 329,053.24
640,486.33 1,319,789.95 1,009,250.80 1,630,328.51 485,216.79 318,206.97
632,725.55 1,303,798.05 997,021.70 1,610,573.82 479,337.41 307,296.97
624,921.19 1,287,716.34 984,723.93 1,590,708.18 473,425.02 296,322.88
617,073.01 1,271,544.32 972,357.09 1,570,730.98 467,479.43 285,284.32
609,180.75 1,255,281.48 959,920.81 1,550,641.60 461,500.45 274,180.90
601,244.16 1,238,927.31 947,414.68 1,530,439.39 455,487.89 263,012.26
593,263.01 1,222,481.30 934,838.33 1,510,123.73 449,441.56 251,777.99
585,237.04 1,205,942.94 922,191.34 1,489,693.99 443,361.28 240,477.73
577,165.99 1,189,311.69 909,473.34 1,469,149.51 437,246.85 229,111.08
569,049.62 1,172,587.05 896,683.91 1,448,489.66 431,098.09 217,677.64
560,887.67 1,155,768.48 883,822.65 1,427,713.79 424,914.79 206,177.04
552,679.88 1,138,855.46 870,889.17 1,406,821.24 418,696.77 194,608.87
544,426.00 1,121,847.47 857,883.06 1,385,811.36 412,443.83 182,972.74
536,125.76 1,104,743.95 844,803.91 1,364,683.50 406,155.78 171,268.24
527,778.92 1,087,544.39 831,651.31 1,343,436.98 399,832.41 159,494.98
519,385.19 1,070,248.24 818,424.84 1,322,071.15 393,473.54 147,652.56
510,944.33 1,052,854.96 805,124.10 1,300,585.33 387,078.95 135,740.56
502,456.07 1,035,363.99 791,748.66 1,278,978.85 380,648.45 123,758.57
493,920.14 1,017,774.80 778,298.11 1,257,251.03 374,181.84 111,706.19
485,336.28 1,000,086.84 764,772.03 1,235,401.20 367,678.91 99,583.01
476,704.20 982,299.54 751,169.98 1,213,428.65 361,139.46 87,388.60
468,023.65 964,412.35 737,491.54 1,191,332.72 354,563.29 75,122.54
459,294.36 946,424.71 723,736.29 1,169,112.69 347,950.19 62,784.43
450,516.04 928,336.05 709,903.80 1,146,767.89 341,299.95 50,373.83
441,688.42 910,145.81 695,993.62 1,124,297.59 334,612.36 37,890.31
432,811.23 891,853.42 682,005.32 1,101,701.11 327,887.22 25,333.46
423,884.18 873,458.30 667,938.47 1,078,977.73 321,124.31 12,702.83
414,907.01 854,959.88 653,792.62 1,056,126.74 314,323.42 0.00
405,879.42 836,357.57 639,567.33 1,033,147.42 307,484.34 0.00
396,801.13 817,650.79 625,262.15 1,010,039.05 300,606.85 0.00
387,671.86 798,838.96 610,876.64 986,800.92 293,690.74 0.00
378,491.32 779,921.49 596,410.34 963,432.28 286,735.79 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
109 110 111 112 113
--- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------
TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
MI ME PA NY FL TOTAL
-----
- -------------------------------------------------------------------------------------------------
1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03 646,080,530.14
- -------------------------------------------------------------------------------------------------
7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------
10TH 1ST 1ST 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
12,804.26 45,237.51 399,675.50 388,525.35 0.00 163,894,387.32
0.00 30,253.02 375,871.64 377,554.88 0.00 159,678,521.37
0.00 15,173.37 351,915.64 366,513.65 0.00 156,867,203.62
0.00 0.00 327,806.52 355,401.20 0.00 152,303,458.55
0.00 0.00 303,543.30 344,217.08 0.00 149,176,785.94
0.00 0.00 279,124.99 332,960.82 0.00 146,325,704.33
0.00 0.00 254,550.62 321,631.96 0.00 141,692,428.82
0.00 0.00 229,819.17 310,230.03 0.00 138,925,656.35
0.00 0.00 204,929.65 298,754.55 0.00 136,494,830.59
0.00 0.00 179,881.04 287,205.06 0.00 132,254,250.10
0.00 0.00 154,672.33 275,581.07 0.00 129,487,000.49
0.00 0.00 129,302.49 263,882.11 0.00 127,002,570.38
0.00 0.00 103,770.50 252,107.69 0.00 122,677,131.24
0.00 0.00 78,075.32 240,257.32 0.00 110,084,653.72
0.00 0.00 52,215.90 228,330.52 0.00 107,639,760.57
0.00 0.00 26,191.20 216,326.79 0.00 103,322,617.82
0.00 0.00 0.00 204,245.64 0.00 100,846,684.82
0.00 0.00 0.00 192,086.56 0.00 98,381,441.91
0.00 0.00 0.00 179,849.06 0.00 94,012,223.90
0.00 0.00 0.00 167,532.63 0.00 91,516,071.14
0.00 0.00 0.00 155,136.75 0.00 89,004,121.24
0.00 0.00 0.00 142,660.93 0.00 84,554,977.18
0.00 0.00 0.00 130,104.63 0.00 82,011,129.73
0.00 0.00 0.00 117,467.34 0.00 79,451,180.59
0.00 0.00 0.00 104,748.55 0.00 74,920,636.59
0.00 0.00 0.00 91,947.72 0.00 72,447,195.36
0.00 0.00 0.00 79,064.32 0.00 69,958,000.73
0.00 0.00 0.00 66,097.82 0.00 65,464,896.63
0.00 0.00 0.00 53,047.70 0.00 62,943,890.81
0.00 0.00 0.00 39,913.39 0.00 60,787,534.14
0.00 0.00 0.00 26,694.37 0.00 56,595,904.21
0.00 0.00 0.00 13,390.09 0.00 54,824,140.20
0.00 0.00 0.00 0.00 0.00 53,041,445.48
0.00 0.00 0.00 0.00 0.00 49,204,095.70
0.00 0.00 0.00 0.00 0.00 47,412,900.94
0.00 0.00 0.00 0.00 0.00 45,623,435.45
0.00 0.00 0.00 0.00 0.00 44,078,456.27
0.00 0.00 0.00 0.00 0.00 42,523,959.56
0.00 0.00 0.00 0.00 0.00 41,109,946.28
0.00 0.00 0.00 0.00 0.00 15,181,992.43
0.00 0.00 0.00 0.00 0.00 14,366,924.32
0.00 0.00 0.00 0.00 0.00 13,546,654.44
0.00 0.00 0.00 0.00 0.00 12,746,356.32
0.00 0.00 0.00 0.00 0.00 11,940,926.12
0.00 0.00 0.00 0.00 0.00 11,130,330.88
0.00 0.00 0.00 0.00 0.00 10,314,537.36
0.00 0.00 0.00 0.00 0.00 9,493,512.19
0.00 0.00 0.00 0.00 0.00 9,019,910.42
0.00 0.00 0.00 0.00 0.00 8,543,276.14
0.00 0.00 0.00 0.00 0.00 8,063,589.87
0.00 0.00 0.00 0.00 0.00 7,580,831.97
0.00 0.00 0.00 0.00 0.00 7,094,982.68
0.00 0.00 0.00 0.00 0.00 6,606,024.35
0.00 0.00 0.00 0.00 0.00 6,260,757.20
0.00 0.00 0.00 0.00 0.00 5,913,649.55
0.00 0.00 0.00 0.00 0.00 5,564,241.01
0.00 0.00 0.00 0.00 0.00 5,212,516.36
0.00 0.00 0.00 0.00 0.00 4,858,463.05
0.00 0.00 0.00 0.00 0.00 4,555,018.63
</TABLE>
Page 41
<PAGE>
BALANCE
<TABLE>
<CAPTION>
103 104 105 106 107 108
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------------
MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE VERMILLION
VT WA WA WA WV OH
- -------------------------------------------------------------------------------------------------------------------------
1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75 1,689,673.43
- -------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 7.050%
- -------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
109 110 111 112 113
--- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID WARNER
- --------------------------------------------------------------------------------------------------
TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
MI ME PA NY FL TOTAL
-----
- --------------------------------------------------------------------------------------------------
1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03 646,080,530.14
- --------------------------------------------------------------------------------------------------
7.253% 7.620% 7.670% 7.740% 7.360%
- --------------------------------------------------------------------------------------------------
10TH 1ST 1ST 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 4,249,555.47
0.00 0.00 0.00 0.00 0.00 3,942,060.04
0.00 0.00 0.00 0.00 0.00 3,680,102.92
0.00 0.00 0.00 0.00 0.00 3,416,386.59
0.00 0.00 0.00 0.00 0.00 3,150,896.47
0.00 0.00 0.00 0.00 0.00 2,907,140.61
0.00 0.00 0.00 0.00 0.00 2,661,742.71
0.00 0.00 0.00 0.00 0.00 2,415,162.37
0.00 0.00 0.00 0.00 0.00 2,166,921.01
0.00 0.00 0.00 0.00 0.00 1,917,007.42
0.00 0.00 0.00 0.00 0.00 1,665,411.80
0.00 0.00 0.00 0.00 0.00 1,447,735.30
0.00 0.00 0.00 0.00 0.00 1,220,861.28
0.00 0.00 0.00 0.00 0.00 992,443.36
0.00 0.00 0.00 0.00 0.00 762,471.01
0.00 0.00 0.00 0.00 0.00 583,857.01
0.00 0.00 0.00 0.00 0.00 404,017.98
0.00 0.00 0.00 0.00 0.00 222,945.49
0.00 0.00 0.00 0.00 0.00 40,630.60
0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 42
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 1 2 3 4 5 6 7 8
- - - - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT CIRCUIT CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER ORLANDO WEST PALM BEACH
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO FL FL
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84 12,121,850.51 7,091,819.77
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Apr-98 0.00 57,507.05 0.00 0.00 5,895.61 9,203.25 19,539.97 11,431.75
May-98 0.00 0.00 0.00 0.00 5,927.88 9,269.28 19,664.37 11,504.53
Jun-98 0.00 0.00 0.00 0.00 5,960.34 9,335.79 19,789.57 11,577.78
Jul-98 7,566.49 58,517.74 0.00 0.00 5,992.97 9,402.77 19,915.56 11,651.49
Aug-98 0.00 0.00 0.00 0.00 6,025.78 9,470.24 20,042.36 11,725.67
Sep-98 0.00 0.00 0.00 0.00 6,058.77 9,538.19 20,169.96 11,800.32
Oct-98 7,715.36 59,546.19 0.00 30,549.43 6,091.95 9,606.62 20,298.38 11,875.45
Nov-98 0.00 0.00 0.00 30,728.90 6,125.30 9,675.55 20,427.61 11,951.06
Dec-98 0.00 0.00 0.00 30,909.44 6,158.84 9,744.97 20,557.67 12,027.15
Jan-99 7,867.16 60,592.71 0.00 31,091.03 6,192.56 9,814.89 20,688.55 12,103.72
Feb-99 0.00 0.00 0.00 31,273.69 6,226.46 9,885.32 20,820.27 12,180.78
Mar-99 0.00 0.00 0.00 31,457.42 6,260.55 9,956.24 20,952.82 12,258.33
Apr-99 8,021.94 61,657.63 0.00 31,642.23 6,294.83 10,027.68 21,086.22 12,336.37
May-99 0.00 0.00 0.00 31,828.13 6,329.29 10,099.63 21,220.47 12,414.92
Jun-99 0.00 0.00 0.00 32,015.12 6,363.94 10,172.09 21,355.57 12,493.96
Jul-99 8,179.78 62,741.26 0.00 32,203.21 6,398.79 10,245.08 21,491.54 12,573.50
Aug-99 0.00 0.00 0.00 32,392.41 6,433.82 10,318.59 21,628.37 12,653.55
Sep-99 0.00 0.00 1,241,762.50 32,582.71 6,469.04 10,392.62 21,766.07 12,734.11
Oct-99 8,340.71 63,843.94 0.00 32,774.13 6,504.46 10,467.19 21,904.65 12,815.19
Nov-99 0.00 0.00 0.00 32,966.68 6,540.07 10,542.29 22,044.11 12,896.78
Dec-99 0.00 0.00 106,147.09 33,160.36 6,575.88 10,617.93 22,184.45 12,978.89
Jan-00 8,504.82 64,966.00 0.00 33,355.18 6,611.88 10,694.11 22,325.69 13,061.52
Feb-00 0.00 0.00 0.00 33,551.14 6,648.08 10,770.84 22,467.83 13,144.68
Mar-00 0.00 0.00 107,975.48 33,748.25 6,684.48 10,848.13 22,610.88 13,228.37
Apr-00 8,672.15 66,107.78 0.00 33,946.52 6,721.08 10,925.96 22,754.84 13,312.59
May-00 0.00 0.00 0.00 34,145.96 6,757.88 11,004.35 22,899.71 13,397.34
Jun-00 0.00 0.00 109,835.35 34,346.57 6,794.88 11,083.31 23,045.50 13,482.64
Jul-00 8,842.77 67,269.62 0.00 34,548.35 6,832.08 11,162.83 23,192.23 13,568.48
Aug-00 0.00 0.00 0.00 34,751.32 6,869.48 11,242.93 23,339.88 13,654.87
Sep-00 0.00 0.00 111,727.27 34,955.49 6,907.10 11,323.60 23,488.48 13,741.80
Oct-00 9,016.75 68,451.88 0.00 35,160.85 6,944.91 11,404.84 23,638.02 13,829.29
Nov-00 0.00 0.00 0.00 35,367.42 6,982.94 11,486.67 23,788.52 13,917.34
Dec-00 0.00 0.00 113,651.77 35,575.21 7,021.17 11,569.09 23,939.97 14,005.94
Jan-01 9,194.16 69,654.93 0.00 35,784.21 7,059.61 11,652.10 24,092.39 14,095.12
Feb-01 0.00 0.00 0.00 35,994.44 7,098.26 11,735.70 24,245.78 14,184.85
Mar-01 0.00 0.00 115,609.42 36,205.91 7,137.12 11,819.90 24,400.14 14,275.17
Apr-01 9,375.05 70,879.11 0.00 36,418.62 7,176.20 11,904.71 24,555.49 14,366.05
May-01 0.00 0.00 0.00 36,632.58 7,215.49 11,990.13 24,711.83 14,457.51
Jun-01 0.00 0.00 117,600.79 36,847.80 7,254.99 12,076.16 24,869.16 14,549.56
Jul-01 9,559.51 72,124.81 0.00 37,064.28 7,294.71 12,162.80 25,027.49 14,642.19
Aug-01 0.00 0.00 0.00 37,282.03 7,334.65 12,250.07 25,186.83 14,735.41
Sep-01 0.00 0.00 119,626.47 37,501.06 7,374.81 12,337.97 25,347.19 14,829.23
Oct-01 9,747.59 73,392.41 0.00 37,721.38 7,415.19 12,426.49 25,508.57 14,923.64
Nov-01 0.00 0.00 0.00 37,942.99 7,455.78 12,515.65 25,670.97 15,018.66
Dec-01 0.00 0.00 121,687.03 38,165.91 7,496.60 12,605.45 25,834.41 15,114.28
Jan-02 9,939.38 202,981.47 0.00 38,390.13 7,537.65 12,695.90 25,998.89 15,210.50
Feb-02 0.00 0.00 0.00 38,615.67 7,578.92 12,786.99 26,164.42 15,307.34
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 9 10 11 12 13 14 15
- -- -- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------
CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD BOARDMAN MONROEVILLE ANDERSEN
IL KS MI MI OH PA SC
--------------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21 5,464,462.52 9,557,521.11 3,343,954.14
--------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 8.610% 7.640% 7.640% 7.640% 7.640% 7.640%
--------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Apr-98 6,693.27 7,658.65 13,339.56 9,126.48 8,808.51 15,406.37 5,390.33
May-98 6,741.30 7,713.60 13,424.49 9,184.58 8,864.59 15,504.46 5,424.65
Jun-98 6,789.66 7,768.94 13,509.96 9,243.06 8,921.03 15,603.17 5,459.18
Jul-98 6,838.38 7,824.69 13,595.98 9,301.91 8,977.82 15,702.51 5,493.94
Aug-98 6,887.45 7,880.83 13,682.54 9,361.13 9,034.98 15,802.48 5,528.92
Sep-98 6,936.86 7,937.37 13,769.65 9,420.73 9,092.51 15,903.09 5,564.12
Oct-98 6,986.64 7,994.32 13,857.32 9,480.71 9,150.40 16,004.34 5,599.54
Nov-98 7,036.76 8,051.68 13,945.54 9,541.07 9,208.65 16,106.23 5,635.19
Dec-98 7,087.25 8,109.45 14,034.33 9,601.81 9,267.28 16,208.78 5,671.07
Jan-99 7,138.10 8,167.64 14,123.68 9,662.94 9,326.28 16,311.97 5,707.18
Feb-99 7,189.32 8,226.24 14,213.60 9,724.46 9,385.66 16,415.83 5,743.51
Mar-99 7,240.90 8,285.26 14,304.09 9,786.38 9,445.42 16,520.34 5,780.08
Apr-99 7,292.86 8,344.71 14,395.16 9,848.68 9,505.55 16,625.52 5,816.88
May-99 7,345.18 8,404.58 14,486.81 9,911.39 9,566.07 16,731.37 5,853.91
Jun-99 7,397.89 8,464.89 14,579.04 9,974.49 9,626.97 16,837.89 5,891.18
Jul-99 7,450.96 8,525.62 14,671.86 10,037.99 9,688.27 16,945.09 5,928.69
Aug-99 7,504.43 8,586.79 14,765.27 10,101.90 9,749.95 17,052.98 5,966.44
Sep-99 7,558.27 8,648.40 14,859.28 10,166.22 9,812.02 17,161.55 6,004.42
Oct-99 7,612.50 8,710.46 14,953.88 10,230.94 9,874.49 17,270.81 6,042.65
Nov-99 7,667.12 8,772.95 15,049.09 10,296.08 9,937.36 17,380.77 6,081.12
Dec-99 7,722.13 8,835.90 15,144.90 10,361.63 10,000.63 17,491.42 6,119.84
Jan-00 7,777.54 8,899.30 15,241.33 10,427.60 10,064.30 17,602.79 6,158.80
Feb-00 7,833.34 8,963.15 15,338.36 10,493.99 10,128.37 17,714.86 6,198.01
Mar-00 7,889.55 9,027.46 15,436.02 10,560.80 10,192.86 17,827.64 6,237.48
Apr-00 7,946.15 9,092.23 15,534.29 10,628.04 10,257.75 17,941.14 6,277.19
May-00 8,003.17 9,157.47 15,633.19 10,695.70 10,323.06 18,055.37 6,317.15
Jun-00 8,060.59 9,223.17 15,732.73 10,763.80 10,388.78 18,170.32 6,357.37
Jul-00 8,118.42 9,289.35 15,832.89 10,832.33 10,454.93 18,286.01 6,397.85
Aug-00 8,176.67 9,356.00 15,933.69 10,901.29 10,521.49 18,402.43 6,438.58
Sep-00 8,235.34 9,423.13 16,035.14 10,970.70 10,588.48 18,519.59 6,479.57
Oct-00 8,294.43 9,490.74 16,137.23 11,040.54 10,655.89 18,637.50 6,520.83
Nov-00 8,353.94 9,558.84 16,239.97 11,110.84 10,723.73 18,756.16 6,562.34
Dec-00 8,413.88 9,627.42 16,343.36 11,181.57 10,792.01 18,875.57 6,604.12
Jan-01 8,474.25 9,696.50 16,447.42 11,252.76 10,860.71 18,995.74 6,646.17
Feb-01 8,535.05 9,766.07 16,552.13 11,324.41 10,929.86 19,116.68 6,688.48
Mar-01 8,596.29 9,836.14 16,657.51 11,396.51 10,999.45 19,238.39 6,731.06
Apr-01 8,657.97 9,906.72 16,763.57 11,469.06 11,069.48 19,360.88 6,773.92
May-01 8,720.09 9,977.80 16,870.29 11,542.08 11,139.95 19,484.14 6,817.05
Jun-01 8,782.66 10,049.39 16,977.70 11,615.57 11,210.88 19,608.19 6,860.45
Jul-01 8,845.68 10,121.49 17,085.79 11,689.52 11,282.25 19,733.03 6,904.13
Aug-01 8,909.14 10,194.12 17,194.57 11,763.94 11,354.08 19,858.66 6,948.08
Sep-01 8,973.07 10,267.26 17,304.04 11,838.84 11,426.37 19,985.10 6,992.32
Oct-01 9,037.45 10,340.93 17,414.21 11,914.21 11,499.12 20,112.34 7,036.84
Nov-01 9,102.29 10,415.12 17,525.08 11,990.07 11,572.33 20,240.38 7,081.64
Dec-01 9,167.60 10,489.85 17,636.66 12,066.40 11,646.01 20,369.25 7,126.72
Jan-02 9,233.38 10,565.12 17,748.95 12,143.23 11,720.15 20,498.93 7,172.10
Feb-02 9,299.63 10,640.92 17,861.95 12,220.54 11,794.77 20,629.44 7,217.76
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 1 2 3 4 5 6 7 8
- - - - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT CIRCUIT CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER ORLANDO WEST PALM BEACH
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO FL FL
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84 12,121,850.51 7,091,819.77
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Mar-02 0.00 0.00 123,783.09 38,842.54 7,620.41 12,878.73 26,331.00 15,404.80
Apr-02 10,134.93 206,548.87 0.00 39,070.74 7,662.13 12,971.14 26,498.64 15,502.88
May-02 0.00 0.00 0.00 39,300.28 7,704.08 13,064.21 26,667.35 15,601.58
Jun-02 0.00 0.00 125,915.26 39,531.17 7,746.26 13,157.94 26,837.13 15,700.91
Jul-02 10,334.34 210,178.96 0.00 39,763.42 7,788.67 13,252.35 27,007.99 15,800.87
Aug-02 0.00 0.00 0.00 39,997.03 7,831.32 13,347.44 27,179.94 15,901.47
Sep-02 0.00 0.00 128,084.15 40,232.01 7,874.19 13,443.21 27,352.99 16,002.71
Oct-02 10,537.67 213,872.86 0.00 40,468.37 7,917.30 13,539.66 27,527.13 16,104.59
Nov-02 0.00 0.00 0.00 40,706.12 7,960.65 13,636.81 27,702.39 16,207.13
Dec-02 0.00 0.00 130,290.40 40,945.27 8,004.24 13,734.65 27,878.76 16,310.31
Jan-03 46,578.99 217,631.67 0.00 41,185.83 8,048.06 13,833.20 28,056.26 16,414.15
Feb-03 0.00 0.00 0.00 41,427.79 8,092.12 13,932.45 28,234.88 16,518.66
Mar-03 0.00 0.00 132,534.65 41,671.18 8,136.43 14,032.42 28,414.64 16,623.83
Apr-03 47,495.44 221,456.55 0.00 41,916.00 8,180.97 14,133.10 28,595.55 16,729.66
May-03 0.00 0.00 0.00 42,162.26 8,225.77 14,234.50 28,777.61 16,836.18
Jun-03 0.00 0.00 134,817.56 42,409.96 8,270.80 14,336.64 28,960.83 16,943.37
Jul-03 48,429.91 225,348.65 0.00 42,659.12 8,316.08 14,439.50 29,145.21 17,051.24
Aug-03 0.00 0.00 0.00 42,909.74 8,361.61 14,543.10 29,330.77 17,159.80
Sep-03 0.00 0.00 137,139.79 43,161.83 8,407.39 14,647.45 29,517.51 17,269.05
Oct-03 49,382.77 229,309.15 0.00 43,415.41 8,453.42 14,752.55 29,705.44 17,379.00
Nov-03 0.00 0.00 0.00 43,670.48 8,499.71 14,858.40 29,894.56 17,489.64
Dec-03 0.00 0.00 139,502.02 43,927.04 8,546.24 14,965.01 30,084.89 17,600.99
Jan-04 50,354.37 233,339.26 0.00 44,185.11 8,593.03 15,072.38 30,276.43 17,713.05
Feb-04 0.00 0.00 0.00 44,444.70 8,640.08 15,180.52 30,469.19 17,825.83
Mar-04 0.00 0.00 141,904.94 44,705.81 8,687.39 15,289.44 30,663.18 17,939.32
Apr-04 51,345.10 237,440.20 0.00 44,968.46 8,734.95 15,399.15 30,858.40 18,053.53
May-04 0.00 0.00 0.00 45,232.65 8,782.77 15,509.63 31,054.86 18,168.47
Jun-04 0.00 0.00 144,349.26 45,498.39 8,830.86 15,620.92 31,252.58 18,284.14
Jul-04 52,355.31 241,613.21 0.00 45,765.69 8,879.21 15,733.00 31,451.55 18,400.55
Aug-04 0.00 0.00 0.00 46,034.57 8,927.82 15,845.88 31,651.80 18,517.70
Sep-04 0.00 0.00 382,770.55 46,305.02 8,976.70 15,959.57 31,853.31 18,635.60
Oct-04 53,385.40 245,859.56 0.00 46,577.06 9,025.85 16,074.08 32,056.11 18,754.25
Nov-04 0.00 0.00 0.00 46,850.70 9,075.26 16,189.42 32,260.20 18,873.65
Dec-04 0.00 0.00 389,363.78 47,125.95 9,124.95 16,305.58 32,465.59 18,993.81
Jan-05 54,435.76 250,180.54 0.00 47,402.81 9,174.91 16,422.57 32,672.29 19,114.74
Feb-05 0.00 0.00 0.00 47,681.31 9,225.14 16,540.40 32,880.30 19,236.43
Mar-05 0.00 0.00 396,070.57 47,961.43 9,275.65 16,659.08 33,089.64 19,358.91
Apr-05 55,506.78 254,577.47 0.00 48,243.21 9,326.44 16,778.61 33,300.31 19,482.16
May-05 0.00 0.00 0.00 48,526.64 9,377.50 16,898.99 33,512.32 19,606.19
Jun-05 0.00 0.00 402,892.88 48,811.73 9,428.84 17,020.24 33,725.69 19,731.02
Jul-05 56,598.88 259,051.66 0.00 49,098.50 9,480.46 17,142.36 33,940.41 19,856.64
Aug-05 0.00 0.00 0.00 49,386.95 9,532.37 17,265.36 34,156.49 19,983.06
Sep-05 0.00 0.00 409,832.71 49,677.10 9,584.56 17,389.24 34,373.96 20,110.29
Oct-05 57,712.46 263,604.50 0.00 49,968.95 9,637.03 17,514.01 34,592.80 20,238.32
Nov-05 0.00 0.00 0.00 50,262.52 9,689.80 17,639.67 34,813.04 20,367.17
Dec-05 0.00 0.00 416,892.08 50,557.81 9,742.85 17,766.23 35,034.69 20,496.85
Jan-06 58,847.95 268,237.35 0.00 50,854.84 9,796.19 17,893.71 35,257.74 20,627.34
Feb-06 0.00 0.00 0.00 51,153.61 9,849.82 18,022.09 35,482.22 20,758.67
Mar-06 0.00 0.00 424,073.05 51,454.14 9,903.75 18,151.40 35,708.12 20,890.83
Apr-06 60,005.79 272,951.62 0.00 51,756.43 9,957.97 18,281.64 35,935.46 21,023.84
May-06 0.00 0.00 0.00 52,060.50 10,012.49 18,412.81 36,164.25 21,157.69
Jun-06 0.00 0.00 431,377.70 52,366.36 10,067.31 18,544.92 36,394.50 21,292.39
Jul-06 61,186.40 277,748.74 0.00 52,674.01 10,122.43 18,677.98 36,626.21 21,427.95
Aug-06 0.00 0.00 0.00 52,983.47 10,177.85 18,812.00 36,859.39 21,564.38
Sep-06 0.00 0.00 438,808.19 53,294.75 10,233.58 18,946.97 37,094.07 21,701.67
Oct-06 62,390.24 282,630.18 0.00 53,607.85 10,289.60 19,082.92 37,330.23 21,839.84
Nov-06 0.00 0.00 0.00 53,922.80 10,345.94 19,219.84 37,567.90 21,978.89
Dec-06 0.00 0.00 446,366.66 54,239.60 10,402.58 19,357.74 37,807.08 22,118.82
Jan-07 63,617.77 440,273.36 0.00 54,558.26 10,459.54 19,496.63 38,047.79 22,259.64
Feb-07 0.00 0.00 0.00 54,878.78 10,516.80 19,636.52 38,290.03 22,401.36
Mar-07 0.00 0.00 454,055.32 55,201.20 10,574.38 19,777.41 38,533.81 22,543.98
Apr-07 64,869.45 448,011.17 0.00 55,525.50 10,632.28 19,919.31 38,779.14 22,687.51
May-07 0.00 0.00 0.00 55,851.72 10,690.49 20,062.23 39,026.03 22,831.96
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 9 10 11 12 13 14 15
- -- -- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------
CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD BOARDMAN MONROEVILLE ANDERSEN
IL KS MI MI OH PA SC
--------------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21 5,464,462.52 9,557,521.11 3,343,954.14
--------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 8.610% 7.640% 7.640% 7.640% 7.640% 7.640%
--------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Mar-02 9,366.35 10,717.27 17,975.67 12,298.34 11,869.87 20,760.78 7,263.71
Apr-02 9,433.56 10,794.17 18,090.11 12,376.64 11,945.44 20,892.96 7,309.96
May-02 9,501.24 10,871.61 18,205.29 12,455.44 12,021.49 21,025.98 7,356.50
Jun-02 9,569.41 10,949.62 18,321.20 12,534.74 12,098.03 21,159.84 7,403.34
Jul-02 9,638.07 11,028.18 18,437.84 12,614.55 12,175.05 21,294.56 7,450.47
Aug-02 9,707.23 11,107.31 18,555.23 12,694.86 12,252.57 21,430.14 7,497.90
Sep-02 9,776.88 11,187.00 18,673.36 12,775.68 12,330.57 21,566.58 7,545.64
Oct-02 9,847.03 11,267.27 18,792.25 12,857.02 12,409.08 21,703.88 7,593.68
Nov-02 9,917.68 11,348.11 18,911.89 12,938.88 12,488.08 21,842.06 7,642.03
Dec-02 9,988.84 11,429.54 19,032.30 13,021.25 12,567.59 21,981.13 7,690.68
Jan-03 10,060.51 11,511.54 19,153.47 13,104.16 12,647.60 22,121.07 7,739.65
Feb-03 10,132.69 11,594.14 19,275.42 13,187.59 12,728.13 22,261.91 7,788.92
Mar-03 10,205.39 11,677.33 19,398.14 13,271.55 12,809.16 22,403.64 7,838.51
Apr-03 10,278.62 11,761.11 19,521.64 13,356.04 12,890.71 22,546.28 7,888.42
May-03 10,352.37 11,845.50 19,645.93 13,441.08 12,972.79 22,689.82 7,938.64
Jun-03 10,426.64 11,930.49 19,771.00 13,526.65 13,055.38 22,834.28 7,989.18
Jul-03 10,501.46 12,016.09 19,896.88 13,612.77 13,138.50 22,979.66 8,040.05
Aug-03 10,576.80 12,102.30 20,023.56 13,699.44 13,222.15 23,125.97 8,091.24
Sep-03 10,652.69 12,189.14 20,151.04 13,786.66 13,306.33 23,273.20 8,142.75
Oct-03 10,729.13 12,276.60 20,279.33 13,874.43 13,391.04 23,421.37 8,194.59
Nov-03 10,806.11 12,364.68 20,408.45 13,962.77 13,476.30 23,570.49 8,246.76
Dec-03 10,883.64 12,453.40 20,538.38 14,051.66 13,562.10 23,720.56 8,299.27
Jan-04 10,961.73 12,542.75 20,669.14 14,141.13 13,648.45 23,871.58 8,352.11
Feb-04 11,040.38 12,632.74 20,800.74 14,231.16 13,735.34 24,023.56 8,405.28
Mar-04 11,119.60 12,723.38 20,933.17 14,321.76 13,822.79 24,176.51 8,458.80
Apr-04 11,199.38 12,814.67 21,066.44 14,412.94 13,910.79 24,330.43 8,512.65
May-04 11,279.73 12,906.62 21,200.56 14,504.71 13,999.36 24,485.34 8,566.85
Jun-04 11,360.67 12,999.22 21,335.54 14,597.05 14,088.49 24,641.23 8,621.39
Jul-04 11,442.18 13,092.49 21,471.38 14,689.99 14,178.19 24,798.11 8,676.28
Aug-04 11,524.28 13,186.43 21,608.08 14,783.51 14,268.45 24,955.99 8,731.52
Sep-04 11,606.96 13,281.04 21,745.65 14,877.64 14,359.30 25,114.88 8,787.11
Oct-04 11,690.24 13,376.34 21,884.10 14,972.36 14,450.72 25,274.77 8,843.05
Nov-04 11,774.12 13,472.31 22,023.43 15,067.68 14,542.72 25,435.69 8,899.35
Dec-04 11,858.60 13,568.98 22,163.64 15,163.61 14,635.31 25,597.63 8,956.01
Jan-05 11,943.69 13,666.33 22,304.75 15,260.15 14,728.49 25,760.60 9,013.03
Feb-05 12,029.38 13,764.39 22,446.76 15,357.31 14,822.26 25,924.61 9,070.42
Mar-05 12,115.69 13,863.15 22,589.67 15,455.08 14,916.63 26,089.66 9,128.16
Apr-05 12,202.62 13,962.62 22,733.49 15,553.48 15,011.59 26,255.77 9,186.28
May-05 12,290.18 14,062.80 22,878.23 15,652.51 15,107.17 26,422.93 9,244.77
Jun-05 12,378.36 14,163.70 23,023.88 15,752.16 15,203.35 26,591.16 9,303.62
Jul-05 12,467.17 14,265.32 23,170.47 15,852.45 15,300.15 26,760.45 9,362.86
Aug-05 12,556.63 14,367.68 23,317.99 15,953.38 15,397.56 26,930.83 9,422.47
Sep-05 12,646.72 14,470.76 23,466.45 16,054.95 15,495.59 27,102.29 9,482.46
Oct-05 12,737.46 14,574.59 23,615.85 16,157.16 15,594.24 27,274.84 9,542.83
Nov-05 12,828.85 14,679.17 23,766.20 16,260.03 15,693.53 27,448.49 9,603.59
Dec-05 12,920.90 14,784.49 23,917.51 16,363.55 15,793.44 27,623.24 9,664.73
Jan-06 13,013.60 14,890.57 24,069.79 16,467.73 15,893.99 27,799.11 9,726.26
Feb-06 13,106.98 14,997.41 24,223.03 16,572.58 15,995.18 27,976.10 9,788.18
Mar-06 13,201.02 15,105.01 24,377.25 16,678.09 16,097.02 28,154.21 9,850.50
Apr-06 13,295.74 15,213.39 24,532.46 16,784.27 16,199.51 28,333.46 9,913.22
May-06 13,391.13 15,322.55 24,688.64 16,891.13 16,302.64 28,513.85 9,976.33
Jun-06 13,487.22 15,432.49 24,845.83 16,998.67 16,406.44 28,695.39 10,039.85
Jul-06 13,583.99 15,543.22 25,004.01 17,106.90 16,510.89 28,878.09 10,103.77
Aug-06 13,681.45 15,654.74 25,163.21 17,215.81 16,616.01 29,061.94 10,168.09
Sep-06 13,779.62 15,767.06 25,323.41 17,325.42 16,721.80 29,246.97 10,232.83
Oct-06 13,878.48 15,880.19 25,484.64 17,435.73 16,828.26 29,433.18 10,297.98
Nov-06 13,978.06 15,994.13 25,646.89 17,546.73 16,935.40 29,620.57 10,363.54
Dec-06 14,078.36 16,108.89 25,810.18 17,658.45 17,043.22 29,809.15 10,429.53
Jan-07 14,179.37 16,224.47 25,974.50 17,770.87 17,151.73 29,998.94 10,495.93
Feb-07 14,281.10 16,340.88 26,139.87 17,884.01 17,260.93 30,189.93 10,562.75
Mar-07 14,383.57 16,458.13 26,306.30 17,997.87 17,370.82 30,382.14 10,630.00
Apr-07 14,486.77 16,576.21 26,473.78 18,112.46 17,481.42 30,575.57 10,697.68
May-07 14,590.72 16,695.15 26,642.33 18,227.78 17,592.72 30,770.24 10,765.79
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 1 2 3 4 5 6 7 8
- - - - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT CIRCUIT CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER ORLANDO WEST PALM BEACH
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO FL FL
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84 12,121,850.51 7,091,819.77
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Jun-07 0.00 0.00 461,876.43 56,179.85 10,749.02 20,206.18 39,274.50 22,977.32
Jul-07 66,145.76 455,884.96 0.00 56,509.90 10,807.87 20,351.16 39,524.55 23,123.61
Aug-07 0.00 0.00 0.00 56,841.90 10,867.04 20,497.18 39,776.18 23,270.83
Sep-07 0.00 0.00 469,832.25 57,175.84 10,926.54 20,644.25 40,029.43 23,418.99
Oct-07 67,447.18 463,897.14 0.00 57,511.75 10,986.36 20,792.37 40,284.28 23,568.09
Nov-07 0.00 0.00 0.00 57,849.63 11,046.51 20,941.56 40,540.76 23,718.14
Dec-07 0.00 0.00 477,925.11 58,189.50 11,106.99 21,091.81 40,798.87 23,869.14
Jan-08 111,416.66 472,050.13 0.00 58,531.36 11,167.80 21,243.14 41,058.62 24,021.11
Feb-08 0.00 0.00 0.00 58,875.24 11,228.95 21,395.56 41,320.03 24,174.05
Mar-08 0.00 0.00 486,157.37 59,221.13 11,290.43 21,549.08 41,583.10 24,327.95
Apr-08 113,608.78 480,346.41 0.00 59,569.05 11,352.24 21,703.69 41,847.84 24,482.84
May-08 0.00 0.00 0.00 59,919.02 11,414.40 21,859.42 42,114.27 24,638.72
Jun-08 0.00 0.00 494,531.43 60,271.04 11,476.89 22,016.26 42,382.40 24,795.58
Jul-08 115,844.03 488,788.50 0.00 60,625.14 11,539.73 22,174.22 42,652.24 24,953.45
Aug-08 0.00 0.00 0.00 60,981.31 11,602.91 22,333.32 42,923.79 25,112.32
Sep-08 0.00 0.00 503,049.73 61,339.57 11,666.43 22,493.57 43,197.07 25,272.20
Oct-08 118,123.27 497,378.96 0.00 61,699.94 11,730.30 22,654.96 43,472.09 25,433.10
Nov-08 0.00 0.00 0.00 62,062.43 11,794.53 22,817.51 43,748.86 25,595.02
Dec-08 0.00 0.00 511,714.76 62,427.05 11,859.10 22,981.22 44,027.40 25,757.98
Jan-09 120,447.34 506,120.40 0.00 62,793.81 11,924.03 23,146.11 44,307.71 25,921.97
Feb-09 0.00 0.00 0.00 63,162.72 11,989.32 23,312.19 44,589.80 26,087.01
Mar-09 0.00 0.00 520,529.05 63,533.80 12,054.96 23,479.45 44,873.69 26,253.10
Apr-09 122,817.14 515,015.46 0.00 63,907.06 12,120.96 23,647.92 45,159.38 26,420.24
May-09 0.00 0.00 0.00 64,282.52 12,187.32 23,817.59 45,446.90 26,588.45
Jun-09 0.00 0.00 529,495.16 64,660.18 12,254.05 23,988.48 45,736.24 26,757.73
Jul-09 125,233.57 524,066.86 0.00 65,040.06 12,321.14 24,160.60 46,027.43 26,928.09
Aug-09 0.00 0.00 0.00 65,422.17 12,388.60 24,333.95 46,320.47 27,099.53
Sep-09 0.00 0.00 819,378.22 65,806.52 12,456.42 24,508.55 46,615.38 27,272.06
Oct-09 127,697.54 533,277.33 0.00 66,193.13 12,524.62 24,684.40 46,912.16 27,445.69
Nov-09 0.00 0.00 0.00 66,582.02 12,593.19 24,861.51 47,210.84 27,620.43
Dec-09 0.00 0.00 833,492.01 66,973.19 12,662.14 25,039.89 47,511.41 27,796.28
Jan-10 130,209.99 542,649.68 0.00 67,366.66 12,731.47 25,219.55 47,813.90 27,973.25
Feb-10 0.00 0.00 0.00 67,762.43 12,801.17 25,400.50 48,118.32 28,151.35
Mar-10 0.00 0.00 847,848.91 68,160.54 12,871.26 25,582.75 48,424.67 28,330.58
Apr-10 132,771.87 552,186.75 0.00 68,560.98 12,941.73 25,766.30 48,732.97 28,510.95
May-10 0.00 0.00 0.00 68,963.78 13,012.58 25,951.18 49,043.24 28,692.47
Jun-10 0.00 0.00 862,453.10 69,368.94 13,083.83 26,137.38 49,355.48 28,875.14
Jul-10 135,384.16 561,891.43 0.00 69,776.48 13,155.46 26,324.91 49,669.71 29,058.98
Aug-10 0.00 0.00 0.00 70,186.42 13,227.49 26,513.79 49,985.94 29,243.99
Sep-10 0.00 0.00 877,308.86 70,598.76 13,299.91 26,704.03 50,304.19 29,430.18
Oct-10 138,047.84 571,766.67 0.00 71,013.53 13,372.73 26,895.63 50,624.46 29,617.55
Nov-10 0.00 0.00 0.00 71,430.74 13,445.94 27,088.61 50,946.77 29,806.12
Dec-10 0.00 0.00 892,420.50 71,850.39 13,519.56 27,282.97 51,271.13 29,995.88
Jan-11 140,763.93 581,815.47 0.00 72,272.51 13,593.58 27,478.72 51,597.55 30,186.85
Feb-11 0.00 0.00 0.00 72,697.11 13,668.00 27,675.88 51,926.06 30,379.04
Mar-11 0.00 0.00 907,792.45 73,124.21 13,742.83 27,874.46 52,256.65 30,572.46
Apr-11 143,533.46 592,040.88 0.00 73,553.81 13,818.08 28,074.46 52,589.35 30,767.10
May-11 0.00 0.00 0.00 73,985.94 13,893.73 28,275.89 52,924.17 30,962.99
Jun-11 0.00 0.00 923,429.17 74,420.61 13,969.80 28,478.77 53,261.12 31,160.12
Jul-11 146,357.48 602,446.00 0.00 74,857.83 14,046.28 28,683.11 53,600.22 31,358.50
Aug-11 0.00 0.00 0.00 75,297.62 14,123.19 28,888.91 53,941.47 31,558.15
Sep-11 0.00 0.00 939,335.24 75,740.00 14,200.51 29,096.18 54,284.90 31,759.07
Oct-11 149,237.07 613,033.99 0.00 76,184.97 14,278.26 29,304.95 54,630.52 31,961.27
Nov-11 0.00 0.00 0.00 76,632.55 14,356.43 29,515.21 54,978.33 32,164.76
Dec-11 0.00 0.00 955,515.29 77,082.77 14,435.03 29,726.98 55,328.36 32,369.54
Jan-12 152,173.31 805,492.65 0.00 77,535.63 14,514.07 29,940.28 55,680.62 32,575.63
Feb-12 0.00 0.00 0.00 77,991.15 14,593.53 30,155.10 56,035.12 32,783.03
Mar-12 0.00 0.00 971,974.04 78,449.35 14,673.43 30,371.46 56,391.87 32,991.74
Apr-12 155,167.31 819,649.18 0.00 78,910.24 14,753.77 30,589.38 56,750.90 33,201.79
May-12 0.00 0.00 0.00 79,373.84 14,834.54 30,808.85 57,112.21 33,413.18
Jun-12 0.00 0.00 988,716.29 79,840.16 14,915.76 31,029.91 57,475.83 33,625.91
Jul-12 158,220.23 834,054.52 0.00 80,309.22 14,997.43 31,252.55 57,841.76 33,839.99
Aug-12 0.00 0.00 0.00 80,781.04 15,079.54 31,476.78 58,210.02 34,055.44
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 9 10 11 12 13 14 15
- -- -- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------
CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD BOARDMAN MONROEVILLE ANDERSEN
IL KS MI MI OH PA SC
--------------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21 5,464,462.52 9,557,521.11 3,343,954.14
--------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 8.610% 7.640% 7.640% 7.640% 7.640% 7.640%
--------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Jun-07 14,695.40 16,814.93 26,811.95 18,343.83 17,704.72 30,966.14 10,834.33
Jul-07 14,800.84 16,935.58 26,982.65 18,460.62 17,817.44 31,163.29 10,903.31
Aug-07 14,907.04 17,057.09 27,154.44 18,578.15 17,930.88 31,361.70 10,972.73
Sep-07 15,014.00 17,179.48 27,327.33 18,696.43 18,045.04 31,561.37 11,042.59
Oct-07 15,121.72 17,302.74 27,501.31 18,815.46 18,159.93 31,762.31 11,112.89
Nov-07 15,230.22 17,426.89 27,676.40 18,935.26 18,275.55 31,964.53 11,183.64
Dec-07 15,339.50 17,551.93 27,852.61 19,055.81 18,391.90 32,168.04 11,254.84
Jan-08 15,449.56 17,677.86 28,029.94 19,177.13 18,509.00 32,372.84 11,326.50
Feb-08 15,560.41 17,804.70 28,208.39 19,299.23 18,626.84 32,578.95 11,398.61
Mar-08 15,672.06 17,932.45 28,387.99 19,422.10 18,745.43 32,786.36 11,471.18
Apr-08 15,784.50 18,061.11 28,568.72 19,545.75 18,864.77 32,995.10 11,544.22
May-08 15,897.76 18,190.70 28,750.61 19,670.19 18,984.88 33,205.17 11,617.71
Jun-08 16,011.82 18,321.22 28,933.66 19,795.43 19,105.75 33,416.58 11,691.68
Jul-08 16,126.71 18,452.68 29,117.87 19,921.46 19,227.39 33,629.33 11,766.12
Aug-08 16,242.42 18,585.07 29,303.25 20,048.29 19,349.80 33,843.44 11,841.03
Sep-08 16,358.96 18,718.42 29,489.82 20,175.93 19,473.00 34,058.91 11,916.42
Oct-08 16,476.33 18,852.73 29,677.57 20,304.39 19,596.98 34,275.75 11,992.28
Nov-08 16,594.55 18,987.99 29,866.52 20,433.66 19,721.74 34,493.97 12,068.64
Dec-08 16,713.62 19,124.23 30,056.67 20,563.75 19,847.31 34,713.58 12,145.47
Jan-09 16,833.54 19,261.45 30,248.03 20,694.67 19,973.67 34,934.59 12,222.80
Feb-09 16,954.32 19,399.65 30,440.61 20,826.43 20,100.83 35,157.01 12,300.62
Mar-09 17,075.96 19,538.84 30,634.41 20,959.02 20,228.81 35,380.84 12,378.93
Apr-09 17,198.48 19,679.03 30,829.45 21,092.46 20,357.60 35,606.10 12,457.74
May-09 17,321.88 19,820.23 31,025.73 21,226.75 20,487.21 35,832.79 12,537.06
Jun-09 17,446.17 19,962.44 31,223.26 21,361.90 20,617.64 36,060.93 12,616.88
Jul-09 17,571.34 20,105.67 31,422.05 21,497.90 20,748.91 36,290.52 12,697.20
Aug-09 17,697.42 20,249.93 31,622.10 21,634.77 20,881.01 36,521.57 12,778.04
Sep-09 17,824.40 20,395.22 31,823.43 21,772.51 21,013.95 36,754.09 12,859.40
Oct-09 17,952.29 20,541.56 32,026.04 21,911.13 21,147.74 36,988.09 12,941.27
Nov-09 18,081.10 20,688.95 32,229.94 22,050.63 21,282.38 37,223.58 13,023.66
Dec-09 18,210.83 20,837.39 32,435.14 22,191.02 21,417.88 37,460.57 13,106.58
Jan-10 18,341.49 20,986.90 32,641.64 22,332.30 21,554.24 37,699.07 13,190.02
Feb-10 18,473.09 21,137.48 32,849.46 22,474.49 21,691.47 37,939.09 13,274.00
Mar-10 18,605.63 21,289.14 33,058.60 22,617.57 21,829.57 38,180.63 13,358.51
Apr-10 18,739.13 21,441.89 33,269.07 22,761.57 21,968.55 38,423.71 13,443.56
May-10 18,873.58 21,595.73 33,480.89 22,906.49 22,108.42 38,668.35 13,529.15
Jun-10 19,009.00 21,750.68 33,694.05 23,052.32 22,249.18 38,914.53 13,615.29
Jul-10 19,145.39 21,906.74 33,908.57 23,199.09 22,390.83 39,162.29 13,701.97
Aug-10 19,282.76 22,063.93 34,124.45 23,346.79 22,533.38 39,411.62 13,789.21
Sep-10 19,421.11 22,222.23 34,341.71 23,495.43 22,676.85 39,662.54 13,877.00
Oct-10 19,560.46 22,381.68 34,560.35 23,645.02 22,821.22 39,915.06 13,965.35
Nov-10 19,700.81 22,542.27 34,780.39 23,795.56 22,966.52 40,169.19 14,054.26
Dec-10 19,842.16 22,704.01 35,001.82 23,947.06 23,112.74 40,424.93 14,143.74
Jan-11 19,984.53 22,866.91 35,224.67 24,099.52 23,259.89 40,682.30 14,233.79
Feb-11 20,127.91 23,030.98 35,448.93 24,252.96 23,407.98 40,941.31 14,324.41
Mar-11 20,272.33 23,196.23 35,674.62 24,407.37 23,557.01 41,201.97 14,415.61
Apr-11 20,417.79 23,362.66 35,901.75 24,562.76 23,706.99 41,464.29 14,507.39
May-11 20,564.28 23,530.29 36,130.32 24,719.14 23,857.92 41,728.28 14,599.75
Jun-11 20,711.83 23,699.12 36,360.35 24,876.52 24,009.82 41,993.95 14,692.70
Jul-11 20,860.44 23,869.16 36,591.85 25,034.90 24,162.68 42,261.31 14,786.25
Aug-11 21,010.11 24,040.42 36,824.82 25,194.29 24,316.52 42,530.38 14,880.39
Sep-11 21,160.86 24,212.91 37,059.27 25,354.69 24,471.33 42,801.15 14,975.12
Oct-11 21,312.69 24,386.64 37,295.21 25,516.12 24,627.13 43,073.66 15,070.47
Nov-11 21,465.61 24,561.61 37,532.66 25,678.57 24,783.92 43,347.89 15,166.41
Dec-11 21,619.63 24,737.84 37,771.62 25,842.06 24,941.71 43,623.87 15,262.97
Jan-12 21,774.75 24,915.33 38,012.10 26,006.59 25,100.51 43,901.61 15,360.15
Feb-12 21,930.98 25,094.10 38,254.11 26,172.16 25,260.32 44,181.12 15,457.94
Mar-12 22,088.33 25,274.15 38,497.66 26,338.79 25,421.14 44,462.40 15,556.36
Apr-12 22,246.82 25,455.49 38,742.76 26,506.48 25,582.99 44,745.48 15,655.40
May-12 22,406.44 25,638.14 38,989.42 26,675.24 25,745.87 45,030.36 15,755.07
Jun-12 22,567.21 25,822.09 39,237.65 26,845.07 25,909.78 45,317.05 15,855.38
Jul-12 22,729.13 26,007.36 39,487.47 27,015.99 26,074.74 45,605.57 15,956.32
Aug-12 22,892.21 26,193.97 39,738.87 27,187.99 26,240.75 45,895.93 16,057.91
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 1 2 3 4 5 6 7 8
- - - - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT CIRCUIT CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER ORLANDO WEST PALM BEACH
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO FL FL
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84 12,121,850.51 7,091,819.77
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Sep-12 0.00 0.00 1,005,746.93 81,255.63 15,162.10 31,702.63 58,580.62 34,272.26
Oct-12 161,333.21 848,713.03 0.00 81,733.00 15,245.11 31,930.10 58,953.58 34,490.46
Nov-12 0.00 0.00 0.00 82,213.19 15,328.58 32,159.19 59,328.92 34,710.05
Dec-12 0.00 0.00 1,023,070.92 82,696.19 15,412.50 32,389.94 59,706.65 34,931.04
Jan-13 215,251.98 863,629.16 0.00 83,182.03 15,496.89 32,622.33 60,086.78 35,153.43
Feb-13 0.00 0.00 0.00 83,670.72 15,581.73 32,856.40 60,469.33 35,377.24
Mar-13 0.00 0.00 1,040,693.32 84,162.29 15,667.04 33,092.14 60,854.32 35,602.48
Apr-13 219,487.06 878,807.44 0.00 84,656.74 15,752.82 33,329.58 61,241.76 35,829.14
May-13 0.00 0.00 0.00 85,154.10 15,839.06 33,568.72 61,631.67 36,057.26
Jun-13 0.00 0.00 1,058,619.26 85,654.38 15,925.78 33,809.58 62,024.06 36,286.82
Jul-13 223,805.47 894,252.48 0.00 86,157.60 16,012.98 34,052.16 62,418.94 36,517.85
Aug-13 0.00 0.00 0.00 86,663.78 16,100.65 34,296.48 62,816.34 36,750.34
Sep-13 0.00 0.00 1,076,853.98 87,172.92 16,188.80 34,542.56 63,216.27 36,984.32
Oct-13 228,208.84 909,968.97 0.00 87,685.07 16,277.43 34,790.40 63,618.75 37,219.79
Nov-13 0.00 0.00 0.00 88,200.22 16,366.55 35,040.03 64,023.79 37,456.75
Dec-13 0.00 0.00 1,095,402.79 88,718.39 16,456.16 35,291.44 64,431.41 37,695.23
Jan-14 232,698.85 925,961.67 0.00 89,239.61 16,546.26 35,544.65 64,841.62 37,935.22
Feb-14 0.00 0.00 0.00 89,763.90 16,636.85 35,799.69 65,254.45 38,176.74
Mar-14 0.00 0.00 1,114,271.10 90,291.26 16,727.93 36,056.55 65,669.90 38,419.80
Apr-14 237,277.20 942,235.45 0.00 90,821.72 16,819.52 36,315.26 66,088.00 38,664.41
May-14 0.00 0.00 0.00 91,355.30 16,911.61 36,575.82 66,508.76 38,910.57
Jun-14 0.00 0.00 1,133,464.42 91,892.01 17,004.20 36,838.25 66,932.20 39,158.30
Jul-14 241,945.63 958,795.24 0.00 92,431.87 17,097.29 37,102.56 67,358.33 39,407.61
Aug-14 0.00 0.00 0.00 92,974.91 17,190.90 37,368.77 67,787.18 39,658.50
Sep-14 0.00 0.00 1,487,095.71 93,521.14 17,285.02 37,636.89 68,218.76 39,911.00
Oct-14 246,705.91 975,646.06 0.00 94,070.58 17,379.66 37,906.94 68,653.09 40,165.10
Nov-14 0.00 0.00 0.00 94,623.24 17,474.81 38,178.92 69,090.18 40,420.82
Dec-14 0.00 0.00 1,512,710.94 95,179.15 17,570.49 38,452.86 69,530.05 40,678.16
Jan-15 251,559.85 992,793.04 0.00 95,738.33 17,666.68 38,728.75 69,972.73 40,937.15
Feb-15 0.00 0.00 0.00 96,300.79 17,763.41 39,006.63 70,418.22 41,197.78
Mar-15 0.00 0.00 1,538,767.38 96,866.56 17,860.66 39,286.51 70,866.55 41,460.07
Apr-15 256,509.29 1,010,241.38 0.00 97,435.65 17,958.45 39,568.39 71,317.73 41,724.03
May-15 0.00 0.00 0.00 98,008.09 18,056.77 39,852.29 71,771.79 41,989.68
Jun-15 0.00 0.00 1,565,272.65 98,583.88 18,155.64 40,138.23 72,228.73 42,257.01
Jul-15 261,556.11 1,027,996.37 0.00 99,163.06 18,255.04 40,426.22 72,688.59 42,526.05
Aug-15 0.00 0.00 0.00 99,745.65 18,354.98 40,716.28 73,151.37 42,796.80
Sep-15 0.00 0.00 1,592,234.47 100,331.65 18,455.48 41,008.42 73,617.11 43,069.27
Oct-15 266,702.22 1,046,063.41 0.00 100,921.10 18,556.52 41,302.65 74,085.80 43,343.48
Nov-15 0.00 0.00 0.00 101,514.01 18,658.12 41,599.00 74,557.48 43,619.43
Dec-15 0.00 0.00 1,619,660.71 102,110.41 18,760.27 41,897.47 75,032.16 43,897.14
Jan-16 271,949.59 1,064,447.97 0.00 102,710.31 18,862.98 42,198.09 75,509.87 44,176.62
Feb-16 0.00 0.00 0.00 103,313.73 18,966.26 42,500.86 75,990.61 44,457.88
Mar-16 0.00 0.00 1,647,559.37 103,920.70 19,070.10 42,805.80 76,474.42 44,740.93
Apr-16 277,300.20 1,083,155.65 0.00 104,531.23 19,174.51 43,112.94 76,961.31 45,025.78
May-16 0.00 0.00 0.00 105,145.35 19,279.49 43,422.27 77,451.30 45,312.44
Jun-16 0.00 0.00 1,675,938.58 105,763.08 19,385.04 43,733.83 77,944.40 45,600.93
Jul-16 282,756.08 1,102,192.11 0.00 106,384.44 19,491.18 44,047.62 78,440.65 45,891.26
Aug-16 0.00 0.00 0.00 107,009.45 19,597.89 44,363.66 78,940.05 46,183.43
Sep-16 0.00 0.00 1,704,806.62 107,638.13 19,705.19 44,681.97 79,442.64 46,477.46
Oct-16 288,319.30 1,121,562.85 0.00 108,270.50 19,813.07 45,002.56 79,948.42 46,773.37
Nov-16 0.00 0.00 0.00 108,906.59 19,921.55 45,325.45 80,457.43 47,071.16
Dec-16 0.00 0.00 1,734,171.91 109,546.42 20,030.62 45,650.66 80,969.67 47,370.85
Jan-17 293,991.99 0.00 0.00 110,190.00 20,140.29 45,978.21 81,485.18 47,672.44
Feb-17 0.00 0.00 0.00 110,837.37 20,250.56 46,308.10 82,003.97 47,975.96
Mar-17 0.00 0.00 1,764,043.03 111,488.54 20,361.43 46,640.36 82,526.06 48,281.40
Apr-17 299,776.28 0.00 0.00 112,143.53 20,472.91 46,975.01 83,051.48 48,588.79
May-17 0.00 0.00 0.00 112,802.38 20,585.00 47,312.05 83,580.24 48,898.14
Jun-17 0.00 0.00 1,794,428.67 113,465.09 20,697.70 47,651.52 84,112.37 49,209.46
Jul-17 305,674.38 0.00 0.00 114,131.70 20,811.02 47,993.41 84,647.88 49,522.76
Aug-17 0.00 0.00 0.00 114,802.22 20,924.96 48,337.77 85,186.81 49,838.06
Sep-17 0.00 0.00 1,825,337.70 115,476.68 21,039.52 48,684.59 85,729.16 50,155.36
Oct-17 311,688.38 0.00 0.00 116,155.11 21,154.72 49,033.90 86,274.97 50,474.68
Nov-17 0.00 0.00 0.00 116,837.52 21,270.54 49,385.72 86,824.26 50,796.04
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 9 10 11 12 13 14 15
- -- -- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------
CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD BOARDMAN MONROEVILLE ANDERSEN
IL KS MI MI OH PA SC
--------------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21 5,464,462.52 9,557,521.11 3,343,954.14
--------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 8.610% 7.640% 7.640% 7.640% 7.640% 7.640%
--------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Sep-12 23,056.46 26,381.91 39,991.87 27,361.08 26,407.82 46,188.13 16,160.15
Oct-12 23,221.89 26,571.20 40,246.49 27,535.28 26,575.95 46,482.20 16,263.04
Nov-12 23,388.51 26,761.85 40,502.73 27,710.59 26,745.15 46,778.13 16,366.58
Dec-12 23,556.32 26,953.86 40,760.59 27,887.01 26,915.42 47,075.96 16,470.78
Jan-13 23,725.33 27,147.26 41,020.10 28,064.56 27,086.79 47,375.67 16,575.64
Feb-13 23,895.56 27,342.04 41,281.26 28,243.24 27,259.24 47,677.30 16,681.17
Mar-13 24,067.01 27,538.22 41,544.09 28,423.06 27,432.79 47,980.84 16,787.38
Apr-13 24,239.70 27,735.81 41,808.58 28,604.02 27,607.44 48,286.32 16,894.26
May-13 24,413.62 27,934.81 42,074.77 28,786.13 27,783.21 48,593.74 17,001.82
Jun-13 24,588.78 28,135.24 42,342.64 28,969.40 27,960.10 48,903.12 17,110.06
Jul-13 24,765.21 28,337.11 42,612.22 29,153.84 28,138.11 49,214.47 17,218.99
Aug-13 24,942.90 28,540.43 42,883.52 29,339.45 28,317.26 49,527.81 17,328.62
Sep-13 25,121.86 28,745.21 43,156.55 29,526.24 28,497.54 49,843.13 17,438.95
Oct-13 25,302.11 28,951.46 43,431.31 29,714.23 28,678.98 50,160.47 17,549.98
Nov-13 25,483.66 29,159.18 43,707.82 29,903.41 28,861.57 50,479.82 17,661.71
Dec-13 25,666.50 29,368.40 43,986.10 30,093.79 29,045.32 50,801.21 17,774.16
Jan-14 25,850.66 29,579.12 44,266.14 30,285.39 29,230.24 51,124.64 17,887.32
Feb-14 26,036.14 29,791.35 44,547.97 30,478.21 29,416.34 51,450.14 18,001.20
Mar-14 26,222.95 30,005.10 44,831.59 30,672.25 29,603.62 51,777.70 18,115.81
Apr-14 26,411.09 30,220.39 45,117.02 30,867.53 29,792.10 52,107.36 18,231.15
May-14 26,600.59 30,437.22 45,404.26 31,064.06 29,981.78 52,439.11 18,347.22
Jun-14 26,791.45 30,655.61 45,693.34 31,261.83 30,172.66 52,772.97 18,464.03
Jul-14 26,983.68 30,875.56 45,984.25 31,460.86 30,364.76 53,108.96 18,581.58
Aug-14 27,177.29 31,097.09 46,277.02 31,661.17 30,558.08 53,447.08 18,699.89
Sep-14 27,372.29 31,320.21 46,571.65 31,862.74 30,752.64 53,787.36 18,818.94
Oct-14 27,568.68 31,544.94 46,868.15 32,065.60 30,948.43 54,129.81 18,938.76
Nov-14 27,766.49 31,771.27 47,166.55 32,269.75 31,145.47 54,474.44 19,059.33
Dec-14 27,965.71 31,999.23 47,466.84 32,475.20 31,343.76 54,821.26 19,180.68
Jan-15 28,166.37 32,228.82 47,769.05 32,681.96 31,543.31 55,170.28 19,302.79
Feb-15 28,368.46 32,460.07 48,073.18 32,890.04 31,744.14 55,521.54 19,425.69
Mar-15 28,572.00 32,692.97 48,379.24 33,099.44 31,946.24 55,875.02 19,549.37
Apr-15 28,777.01 32,927.54 48,687.26 33,310.17 32,149.63 56,230.76 19,673.83
May-15 28,983.48 33,163.79 48,997.23 33,522.24 32,354.32 56,588.76 19,799.09
Jun-15 29,191.44 33,401.74 49,309.18 33,735.67 32,560.31 56,949.04 19,925.14
Jul-15 29,400.89 33,641.40 49,623.12 33,950.45 32,767.61 57,311.62 20,052.00
Aug-15 29,611.84 33,882.78 49,939.05 34,166.60 32,976.23 57,676.50 20,179.66
Sep-15 29,824.31 34,125.89 50,257.00 34,384.13 33,186.18 58,043.71 20,308.14
Oct-15 30,038.29 34,370.74 50,576.96 34,603.04 33,397.47 58,413.26 20,437.43
Nov-15 30,253.82 34,617.35 50,898.97 34,823.35 33,610.10 58,785.15 20,567.55
Dec-15 30,470.89 34,865.73 51,223.03 35,045.06 33,824.08 59,159.42 20,698.50
Jan-16 30,689.52 35,115.89 51,549.15 35,268.18 34,039.43 59,536.07 20,830.28
Feb-16 30,909.72 35,367.85 51,877.34 35,492.72 34,256.14 59,915.11 20,962.90
Mar-16 31,131.49 35,621.61 52,207.63 35,718.69 34,474.24 60,296.57 21,096.36
Apr-16 31,354.86 35,877.20 52,540.02 35,946.10 34,693.73 60,680.46 21,230.68
May-16 31,579.83 36,134.62 52,874.52 36,174.96 34,914.61 61,066.79 21,365.84
Jun-16 31,806.42 36,393.88 53,211.16 36,405.27 35,136.90 61,455.59 21,501.87
Jul-16 32,034.63 36,655.01 53,549.94 36,637.05 35,360.61 61,846.85 21,638.77
Aug-16 32,264.48 36,918.01 53,890.87 36,870.31 35,585.74 62,240.61 21,776.54
Sep-16 32,495.98 37,182.90 54,233.98 37,105.05 35,812.30 62,636.88 21,915.18
Oct-16 32,729.13 37,449.68 54,579.27 37,341.28 36,040.30 63,035.66 22,054.71
Nov-16 32,963.97 37,718.38 54,926.75 37,579.02 36,269.76 63,436.99 22,195.12
Dec-16 33,200.48 37,989.01 55,276.45 37,818.27 36,500.68 63,840.87 22,336.43
Jan-17 33,438.70 38,261.58 55,628.38 38,059.05 36,733.06 64,247.33 22,478.64
Feb-17 33,678.62 38,536.11 55,982.55 38,301.36 36,966.93 64,656.37 22,621.75
Mar-17 33,920.26 38,812.61 56,338.97 38,545.21 37,202.29 65,068.01 22,765.78
Apr-17 34,163.64 39,091.09 56,697.66 38,790.62 37,439.14 65,482.28 22,910.72
May-17 34,408.76 39,371.57 57,058.64 39,037.58 37,677.50 65,899.18 23,056.59
Jun-17 34,655.65 39,654.06 57,421.91 39,286.12 37,917.38 66,318.74 23,203.38
Jul-17 34,904.30 39,938.58 57,787.50 39,536.24 38,158.79 66,740.97 23,351.11
Aug-17 35,154.74 40,225.14 58,155.41 39,787.96 38,401.74 67,165.89 23,499.78
Sep-17 35,406.98 40,513.75 58,525.67 40,041.28 38,646.23 67,593.51 23,649.39
Oct-17 35,661.02 40,804.44 58,898.28 40,296.21 38,892.28 68,023.86 23,799.96
Nov-17 35,916.89 41,097.21 59,273.26 40,552.76 39,139.89 68,456.94 23,951.49
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 1 2 3 4 5 6 7 8
- - - - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT CIRCUIT CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER ORLANDO WEST PALM BEACH
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO FL FL
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84 12,121,850.51 7,091,819.77
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Dec-17 0.00 0.00 1,856,779.14 117,523.94 21,386.99 49,740.06 87,377.04 51,119.44
Jan-18 0.00 0.00 0.00 118,214.39 21,504.09 50,096.95 87,933.34 51,444.90
Feb-18 0.00 0.00 0.00 118,908.90 21,621.82 50,456.39 88,493.18 51,772.43
Mar-18 0.00 0.00 1,888,762.16 119,607.49 21,740.20 50,818.42 89,056.59 52,102.05
Apr-18 0.00 0.00 0.00 120,310.19 21,859.23 51,183.04 89,623.58 52,433.77
May-18 0.00 0.00 0.00 121,017.01 21,978.91 51,550.28 90,194.18 52,767.59
Jun-18 0.00 0.00 1,921,296.09 121,727.99 22,099.24 51,920.15 90,768.42 53,103.55
Jul-18 0.00 0.00 0.00 122,443.14 22,220.24 52,292.68 91,346.31 53,441.64
Aug-18 0.00 0.00 0.00 123,162.49 22,341.89 52,667.88 91,927.88 53,781.89
Sep-18 0.00 0.00 1,954,390.42 123,886.07 22,464.21 53,045.77 92,513.16 54,124.30
Oct-18 0.00 0.00 0.00 124,613.90 22,587.21 53,426.38 93,102.16 54,468.89
Nov-18 0.00 0.00 0.00 125,346.01 22,710.87 53,809.71 93,694.91 54,815.67
Dec-18 0.00 0.00 1,988,054.79 126,082.42 22,835.21 54,195.79 94,291.43 55,164.67
Jan-19 0.00 0.00 0.00 126,823.15 22,960.24 54,584.65 94,891.75 55,515.88
Feb-19 0.00 0.00 0.00 127,568.24 23,085.94 54,976.29 95,495.90 55,869.33
Mar-19 0.00 0.00 2,022,299.04 128,317.70 23,212.34 55,370.75 96,103.87 56,225.05
Apr-19 0.00 0.00 0.00 129,071.57 23,339.43 55,768.03 0.00 0.00
May-19 0.00 0.00 0.00 129,829.86 23,467.21 56,168.17 0.00 0.00
Jun-19 0.00 0.00 2,057,132.84 130,592.61 23,595.69 56,571.18 0.00 0.00
Jul-19 0.00 0.00 0.00 131,359.84 23,724.88 56,977.07 0.00 0.00
Aug-19 0.00 0.00 0.00 132,131.58 23,854.77 57,385.88 0.00 0.00
Sep-19 0.00 0.00 0.00 132,907.86 23,985.38 57,797.63 0.00 0.00
Oct-19 0.00 0.00 0.00 133,688.69 24,116.70 58,212.35 0.00 0.00
Nov-19 0.00 0.00 0.00 134,474.11 24,248.74 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 135,264.15 24,381.50 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 136,058.82 24,514.99 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 136,858.17 24,647.14 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 137,662.21 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 138,470.98 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 139,284.49 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 140,102.79 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 140,925.89 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 141,753.83 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 142,586.64 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 143,424.33 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 144,266.95 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 145,114.52 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 145,964.88 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 9 10 11 12 13 14 15
- -- -- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------
CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD BOARDMAN MONROEVILLE ANDERSEN
IL KS MI MI OH PA SC
--------------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21 5,464,462.52 9,557,521.11 3,343,954.14
--------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 8.610% 7.640% 7.640% 7.640% 7.640% 7.640%
--------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Dec-17 36,174.59 41,392.08 59,650.64 40,810.94 39,389.08 68,892.79 24,103.98
Jan-18 36,434.14 41,689.07 60,030.41 41,070.77 39,639.86 69,331.40 24,257.44
Feb-18 36,695.56 41,988.19 60,412.61 41,332.26 39,892.23 69,772.81 24,411.88
Mar-18 36,958.85 42,289.45 60,797.23 41,595.41 40,146.21 70,217.03 24,567.30
Apr-18 37,224.03 42,592.88 61,184.31 41,860.23 40,401.81 70,664.08 24,723.71
May-18 37,491.11 42,898.48 61,573.85 42,126.74 40,659.03 71,113.98 24,881.12
Jun-18 37,760.11 43,206.28 61,965.87 42,394.95 40,917.90 71,566.74 25,039.53
Jul-18 38,031.04 43,516.29 62,360.39 42,664.86 41,178.41 72,022.38 25,198.95
Aug-18 38,303.91 43,828.52 62,757.41 42,936.49 41,440.58 72,480.92 25,359.38
Sep-18 38,578.74 44,142.98 63,156.97 43,209.86 41,704.41 72,942.38 25,520.84
Oct-18 38,855.55 44,459.71 63,559.07 43,484.96 41,969.93 73,406.78 25,683.32
Nov-18 39,134.33 44,778.71 63,963.73 43,761.81 42,237.14 73,874.14 25,846.84
Dec-18 39,415.12 45,100.00 64,370.96 44,040.43 42,506.05 74,344.47 26,011.39
Jan-19 39,697.93 45,423.59 64,780.79 44,320.82 42,776.67 74,817.80 26,177.00
Feb-19 39,982.76 45,749.50 65,193.23 44,603.00 43,049.02 75,294.14 26,343.66
Mar-19 40,269.64 46,077.76 65,608.28 44,886.98 43,323.11 75,771.42 26,511.39
Apr-19 40,558.57 46,408.36 0.00 0.00 0.00 0.00 0.00
May-19 40,849.58 46,741.34 0.00 0.00 0.00 0.00 0.00
Jun-19 41,142.67 47,076.71 0.00 0.00 0.00 0.00 0.00
Jul-19 41,437.87 47,414.49 0.00 0.00 0.00 0.00 0.00
Aug-19 41,735.19 47,754.69 0.00 0.00 0.00 0.00 0.00
Sep-19 42,034.64 48,097.33 0.00 0.00 0.00 0.00 0.00
Oct-19 42,336.23 48,442.43 0.00 0.00 0.00 0.00 0.00
Nov-19 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 1 2 3 4 5 6 7 8
- - - - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT CIRCUIT CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER ORLANDO WEST PALM BEACH
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO FL FL
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84 12,121,850.51 7,091,819.77
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
PRINCIPAL
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
PRINCIPAL SCHEDULES
POOL ID 9 10 11 12 13 14 15
- -- -- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------
CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD BOARDMAN MONROEVILLE ANDERSEN
IL KS MI MI OH PA SC
--------------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21 5,464,462.52 9,557,521.11 3,343,954.14
--------------------------------------------------------------------------------------------------
GROSS COUPON 8.610% 8.610% 7.640% 7.640% 7.640% 7.640% 7.640%
--------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 6
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
16 17 18 19 20 21 24
-- -- -- -- -- -- --
HEALTH INS.
ECKERD FEDERAL FRED FRED FRED GIANT PLAN OF
CORPORATION INSURANCE MEYER MEYER MEYER FOOD GREATER NY
- ------------------------------------------------------------------------------------------------------------------------------------
NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS
FL NJ OR WA WA VA NY
- ------------------------------------------------------------------------------------------------------------------------------------
1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71
- ------------------------------------------------------------------------------------------------------------------------------------
7.190% 6.900% 7.730% 7.700% 7.700% 7.620% 8.350%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,593.23 42,926.54 25,419.27 19,064.60 18,870.05 5,645.01 8,312.61
3,614.76 43,173.37 25,583.01 19,186.93 18,991.13 5,680.85 8,370.45
3,636.42 43,421.61 25,747.81 19,310.04 19,112.99 5,716.92 8,428.70
3,658.20 43,671.29 25,913.66 19,433.95 19,235.64 5,753.23 8,487.35
3,680.12 43,922.40 26,080.59 19,558.65 19,359.06 5,789.76 8,546.41
3,702.17 44,174.95 26,248.59 19,684.15 19,483.29 5,826.53 8,605.88
3,724.36 44,428.96 26,417.68 19,810.46 19,608.30 5,863.52 8,665.76
3,746.67 44,684.42 26,587.85 19,937.57 19,734.12 5,900.76 8,726.06
3,769.12 44,941.36 26,759.12 20,065.51 19,860.75 5,938.23 8,786.78
3,791.70 45,199.77 26,931.50 20,194.26 19,988.19 5,975.93 8,847.92
3,814.42 45,459.67 27,104.98 20,323.84 20,116.45 6,013.88 8,909.48
3,837.28 45,721.06 27,279.58 20,454.25 20,245.53 6,052.07 8,818.24
3,860.27 45,983.96 27,455.31 20,585.50 20,375.44 6,090.50 8,879.60
3,883.40 46,248.37 27,632.17 20,717.59 20,506.18 6,129.18 8,941.39
3,906.67 46,514.30 27,810.16 20,850.53 20,637.76 6,168.10 9,003.60
3,930.07 46,781.75 27,989.31 20,984.32 20,770.19 6,207.26 9,066.25
3,953.62 47,050.75 28,169.60 21,118.97 20,903.46 6,246.68 9,129.34
3,977.31 47,321.29 28,351.06 21,254.48 21,037.59 6,286.35 9,192.86
4,001.14 47,593.39 28,533.69 21,390.87 21,172.58 6,326.26 9,256.83
4,025.11 47,867.05 28,717.50 21,528.12 21,308.44 6,366.44 9,321.24
4,049.23 48,142.29 28,902.48 21,666.26 21,445.17 6,406.86 9,386.10
4,073.49 48,419.10 29,088.66 21,805.29 21,582.78 6,447.55 9,451.42
4,097.90 48,697.51 29,276.04 21,945.20 21,721.27 6,488.49 9,517.18
4,122.45 48,977.52 29,464.63 22,086.02 21,860.64 6,529.69 9,422.50
4,147.15 49,259.14 29,654.43 22,227.74 22,000.92 6,571.15 9,488.06
4,172.00 49,542.39 29,845.46 22,370.37 22,142.09 6,612.88 9,554.08
4,197.00 49,827.25 30,037.71 22,513.91 22,284.17 6,654.87 9,620.56
4,222.15 50,113.76 30,231.20 22,658.37 22,427.16 6,697.13 9,687.51
4,247.44 50,401.91 30,425.94 22,803.76 22,571.07 6,739.66 9,754.91
4,272.89 50,691.73 30,621.94 22,950.09 22,715.90 6,782.45 9,822.79
4,298.49 50,983.20 30,819.19 23,097.35 22,861.66 6,825.52 9,891.14
4,324.25 51,276.36 31,017.72 23,245.56 23,008.35 6,868.86 9,959.97
4,350.16 51,571.20 31,217.53 23,394.72 23,155.99 6,912.48 10,029.27
4,376.22 51,867.73 31,418.62 23,544.84 23,304.57 6,956.38 10,099.06
4,402.44 52,165.97 31,621.01 23,695.91 23,454.11 7,000.55 10,169.33
4,428.82 52,465.92 31,824.70 23,847.96 23,604.61 7,045.00 10,071.13
4,455.36 52,767.60 32,029.70 24,000.99 23,756.07 7,089.74 10,141.21
4,482.05 53,071.02 32,236.03 24,154.99 23,908.51 7,134.76 10,211.78
4,508.91 53,376.17 32,443.68 24,309.99 24,061.92 7,180.06 10,282.84
4,535.92 53,683.09 32,652.67 24,465.98 24,216.32 7,225.66 10,354.39
4,993.96 53,991.77 32,863.01 24,622.97 24,371.70 7,271.54 10,426.44
5,023.88 54,302.22 33,074.70 24,780.97 24,528.09 7,317.71 10,498.99
5,053.99 54,614.46 33,287.76 24,939.98 24,685.48 7,364.18 10,572.04
5,084.27 54,928.49 33,502.19 25,100.01 24,843.88 7,410.94 10,645.61
5,114.73 55,244.33 33,718.00 25,261.07 25,003.29 7,458.00 10,719.68
5,145.38 55,561.98 33,935.20 25,423.16 25,163.73 7,505.36 10,794.27
5,176.21 55,881.46 34,153.80 25,586.29 25,325.20 7,553.02 10,869.38
<CAPTION>
25 26 27 28 29 30 31
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO
CA CA CA IA IA IA IA
- ---------------------------------------------------------------------------------------------------------------------------------
2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,804.02 1,945.99 2,045.25 5,026.89 2,638.98 2,372.60 2,480.23
3,827.73 1,958.12 2,057.99 5,058.23 2,655.43 2,387.39 2,495.69
3,851.59 1,970.33 2,070.82 5,089.76 2,671.99 2,402.27 2,511.25
3,875.60 1,982.61 2,083.73 5,121.48 2,688.64 2,417.24 2,526.90
3,899.76 1,994.97 2,096.72 5,153.41 2,705.40 2,432.31 2,542.65
3,924.07 2,007.40 2,109.79 5,185.53 2,722.26 2,447.47 2,558.50
3,948.53 2,019.91 2,122.94 5,217.85 2,739.23 2,462.73 2,574.45
3,973.14 2,032.51 2,136.17 5,250.38 2,756.31 2,478.08 2,590.50
3,997.90 2,045.17 2,149.49 5,283.11 2,773.49 2,493.52 2,606.65
4,022.82 2,057.92 2,162.89 5,316.04 2,790.78 2,509.07 2,622.89
4,047.90 2,070.75 2,176.37 5,349.17 2,808.17 2,524.71 2,639.24
4,073.13 2,083.66 2,189.94 5,382.52 2,825.68 2,540.44 2,655.70
4,098.52 2,096.65 2,203.59 5,416.07 2,843.29 2,556.28 2,672.25
4,124.07 2,109.72 2,217.32 5,449.83 2,861.01 2,572.21 2,688.91
4,149.77 2,122.87 2,231.14 5,483.80 2,878.85 2,588.25 2,705.67
4,175.64 2,136.10 2,245.05 5,517.98 2,896.79 2,604.38 2,722.53
4,201.67 2,149.41 2,259.04 5,552.38 2,914.85 2,620.61 2,739.50
4,227.86 2,162.81 2,273.13 5,586.99 2,933.02 2,636.95 2,756.58
4,254.21 2,176.29 2,287.29 5,621.81 2,951.30 2,653.39 2,773.76
4,280.73 2,189.86 2,301.55 5,656.85 2,969.70 2,669.93 2,791.05
4,307.42 2,203.51 2,315.90 5,692.12 2,988.21 2,686.57 2,808.45
4,334.26 2,217.24 2,330.33 5,727.60 3,006.83 2,703.31 2,825.95
4,361.28 2,231.06 2,344.86 5,763.30 3,025.58 2,720.16 2,843.57
4,388.47 2,244.97 2,359.48 5,799.22 3,044.44 2,737.12 2,861.29
4,415.82 2,258.97 2,374.18 5,835.37 3,063.41 2,754.18 2,879.13
4,443.35 2,273.05 2,388.98 5,871.75 3,082.51 2,771.35 2,897.08
4,471.04 2,287.21 2,403.87 5,908.35 3,101.72 2,788.62 2,915.14
4,498.91 2,301.47 2,418.86 5,945.17 3,121.06 2,806.01 2,933.31
4,526.96 2,315.82 2,433.94 5,982.23 3,140.51 2,823.50 2,951.59
4,555.17 2,330.25 2,449.11 6,019.52 3,160.09 2,841.10 2,969.99
4,583.57 2,344.78 2,464.37 6,057.04 3,179.79 2,858.81 2,988.50
4,612.14 2,359.39 2,479.74 6,094.80 3,199.61 2,876.63 3,007.13
4,640.89 2,374.10 2,495.19 6,132.79 3,219.55 2,894.56 3,025.87
4,669.82 2,388.90 2,510.75 6,171.02 3,239.62 2,912.60 3,044.74
4,698.93 2,403.79 2,526.40 6,209.48 3,259.81 2,930.76 3,063.71
4,728.22 2,418.77 2,542.14 6,248.19 3,280.13 2,949.02 3,082.81
4,757.69 2,433.85 2,557.99 6,287.14 3,300.58 2,967.41 3,102.03
4,787.34 2,449.02 2,573.93 6,326.33 3,321.15 2,985.90 3,121.36
4,817.19 2,464.29 2,589.98 6,365.76 3,341.85 3,004.52 3,140.82
4,847.21 2,479.65 2,606.12 6,405.44 3,362.68 3,023.24 3,160.40
4,877.43 2,495.10 2,622.37 6,445.37 3,383.65 3,042.09 3,180.10
4,907.83 2,510.66 2,638.71 6,485.54 3,404.74 3,061.05 3,199.92
4,938.42 2,526.31 2,655.16 6,525.97 3,425.96 3,080.13 3,219.87
4,969.20 2,542.05 2,671.71 6,566.65 3,447.31 3,099.33 3,239.94
5,000.18 2,557.90 2,688.37 6,607.58 3,468.80 3,118.65 3,260.13
5,031.35 2,573.84 2,705.12 6,648.77 3,490.43 3,138.09 3,280.45
5,062.71 2,589.89 2,721.99 6,690.21 3,512.18 3,157.65 3,300.90
<CAPTION>
32 33
-- --
HEILIG- HEILIG-
MEYERS MEYERS
- ------------------------------------
TWIN FALLS BOISE
ID ID
- ------------------------------------
1,268,563.31 2,012,010.19
- ------------------------------------
7.480% 7.480%
- ------------------------------------
10TH 10TH
- ------------------------------------
<S> <C>
2,007.88 3,184.61
2,020.40 3,204.46
2,032.99 3,224.44
2,045.66 3,244.53
2,058.42 3,264.76
2,071.25 3,285.11
2,084.16 3,305.59
2,097.15 3,326.19
2,110.22 3,346.92
2,123.37 3,367.79
2,136.61 3,388.78
2,149.93 3,409.90
2,163.33 3,431.16
2,176.81 3,452.54
2,190.38 3,474.07
2,204.04 3,495.72
2,217.77 3,517.51
2,231.60 3,539.44
2,245.51 3,561.50
2,259.51 3,583.70
2,273.59 3,606.04
2,287.76 3,628.52
2,302.02 3,651.13
2,316.37 3,673.89
2,330.81 3,696.79
2,345.34 3,719.84
2,359.96 3,743.02
2,374.67 3,766.35
2,389.47 3,789.83
2,404.37 3,813.45
2,419.35 3,837.22
2,434.43 3,861.14
2,449.61 3,885.21
2,464.88 3,909.43
2,480.24 3,933.80
2,495.70 3,958.32
2,511.26 3,982.99
2,526.91 4,007.82
2,542.66 4,032.80
2,558.51 4,057.94
2,574.46 4,083.23
2,590.51 4,108.69
2,606.66 4,134.30
2,622.90 4,160.07
2,639.25 4,186.00
2,655.70 4,212.09
2,672.26 4,238.35
</TABLE>
Page 7
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
16 17 18 19 20 21 24
-- -- -- -- -- -- --
HEALTH INS.
ECKERD FEDERAL FRED FRED FRED GIANT PLAN OF
CORPORATION INSURANCE MEYER MEYER MEYER FOOD GREATER NY
- ------------------------------------------------------------------------------------------------------------------------------------
NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS
FL NJ OR WA WA VA NY
- ------------------------------------------------------------------------------------------------------------------------------------
1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71
- ------------------------------------------------------------------------------------------------------------------------------------
7.190% 6.900% 7.730% 7.700% 7.700% 7.620% 8.350%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,207.22 56,202.78 34,373.80 25,750.47 25,487.70 7,600.98 10,767.62
5,238.42 56,525.95 34,595.23 25,915.70 25,651.25 7,649.25 10,842.54
5,269.81 56,850.97 34,818.08 26,081.99 25,815.84 7,697.82 10,917.99
5,301.38 57,177.87 35,042.37 26,249.35 25,981.49 7,746.70 10,993.96
5,333.15 57,506.64 35,268.10 26,417.79 26,148.21 7,795.89 11,070.46
5,365.10 80,287.11 35,495.28 26,587.30 26,315.99 7,845.40 17,430.10
5,397.25 80,748.76 35,723.93 26,757.90 26,484.85 7,895.22 17,551.38
5,429.58 81,213.07 35,954.05 26,929.60 26,654.80 7,945.35 17,673.51
5,462.12 81,680.04 36,185.66 27,102.40 26,825.83 7,995.80 17,796.49
5,494.84 82,149.70 36,418.75 27,276.30 26,997.96 8,046.58 17,920.32
5,527.77 82,622.06 36,653.35 27,451.33 27,171.20 8,097.67 18,045.02
5,560.89 83,097.14 36,889.46 27,627.47 27,345.55 8,149.09 18,170.58
5,594.21 83,574.95 37,127.09 27,804.75 27,521.02 8,200.84 18,110.75
5,627.72 84,055.51 37,366.25 27,983.16 27,697.61 8,252.92 18,236.77
5,661.44 84,538.82 37,606.95 28,162.72 27,875.34 8,305.32 18,363.67
5,695.37 85,024.92 37,849.20 28,343.43 28,054.20 8,358.06 18,491.45
5,729.49 85,513.82 38,093.01 28,525.30 28,234.22 8,411.13 18,620.12
5,763.82 86,005.52 38,338.40 28,708.34 28,415.39 8,464.55 18,749.68
5,798.35 86,500.05 38,585.36 28,892.55 28,597.72 8,518.29 18,880.15
5,833.10 86,997.43 38,833.91 29,077.95 28,781.22 8,572.39 19,011.52
5,868.05 87,497.66 39,084.07 29,264.53 28,965.90 8,626.82 19,143.81
5,903.21 88,000.77 39,335.83 29,452.31 29,151.77 8,681.60 19,277.02
5,938.58 88,506.78 39,589.22 29,641.30 29,338.82 8,736.73 19,411.16
5,974.16 89,015.69 39,844.24 29,831.49 29,527.08 8,792.21 19,546.23
6,009.95 89,527.53 40,100.91 30,022.91 29,716.55 8,848.04 19,486.65
6,045.96 90,042.32 40,359.22 30,215.56 29,907.23 8,904.22 19,622.24
6,082.19 90,560.06 40,619.20 30,409.44 30,099.13 8,960.76 19,758.78
6,118.63 91,080.78 40,880.86 30,604.57 30,292.27 9,017.67 19,896.27
6,155.29 91,604.49 41,144.20 30,800.95 30,486.64 9,074.93 20,034.71
6,192.17 92,131.22 41,409.24 30,998.59 30,682.27 9,132.55 20,174.12
6,229.27 92,660.98 41,675.98 31,197.50 30,879.14 9,190.55 20,314.50
6,266.60 93,193.78 41,944.45 31,397.68 31,077.29 9,248.91 20,455.85
6,304.14 93,729.64 42,214.64 31,599.15 31,276.70 9,307.64 20,598.19
6,341.92 94,268.59 42,486.57 31,801.91 31,477.39 9,366.74 20,741.52
6,379.92 94,810.63 42,760.25 32,005.97 31,679.37 9,426.22 20,885.85
6,418.14 95,355.79 43,035.70 32,211.34 31,882.65 9,486.07 21,031.18
6,456.60 95,904.09 43,312.92 32,418.03 32,087.23 9,546.31 20,972.16
6,495.28 96,455.54 43,591.93 32,626.05 32,293.12 9,606.93 21,118.09
6,534.20 97,010.15 43,872.74 32,835.40 32,500.33 9,667.93 21,265.04
6,573.35 97,567.96 44,155.35 33,046.09 32,708.88 9,729.33 21,413.01
6,612.74 98,128.98 44,439.78 33,258.14 32,918.76 9,791.11 21,562.01
6,652.36 98,693.22 44,726.05 33,471.55 33,129.99 9,853.28 21,712.04
6,692.22 99,260.71 45,014.16 33,686.32 33,342.57 9,915.85 21,863.12
6,732.31 99,831.46 45,304.13 33,902.48 33,556.52 9,978.81 22,015.25
6,772.65 100,405.49 45,595.96 34,120.02 33,771.84 10,042.18 22,168.44
6,813.23 100,982.82 45,889.67 34,338.95 33,988.54 10,105.95 22,322.70
6,854.05 101,563.47 46,185.28 34,559.29 34,206.64 10,170.12 22,478.03
6,895.12 102,147.46 46,482.79 34,781.05 34,426.13 10,234.70 22,634.44
6,936.43 102,734.81 46,782.22 35,004.23 34,647.03 10,299.69 22,576.30
6,978.00 103,325.53 47,083.57 35,228.84 34,869.35 10,365.09 22,733.40
7,019.80 103,919.65 47,386.87 35,454.89 35,093.09 10,430.91 22,891.58
7,061.87 104,517.19 47,692.12 35,682.39 35,318.27 10,497.15 23,050.87
7,104.18 105,118.17 47,999.34 35,911.36 35,544.90 10,563.81 23,211.27
7,577.61 105,722.59 48,308.53 36,141.79 35,772.98 10,630.89 23,372.78
7,623.02 106,330.50 48,619.72 36,373.70 36,002.52 10,698.39 23,535.41
7,668.69 106,941.90 48,932.91 36,607.09 36,233.54 10,766.33 23,699.18
7,714.64 107,556.82 49,248.12 36,841.99 36,466.04 10,834.69 23,864.09
7,760.86 108,175.27 49,565.36 37,078.39 36,700.03 10,903.49 24,030.14
7,807.36 108,797.28 49,884.64 37,316.31 36,935.52 10,972.73 24,197.35
7,854.14 109,422.86 50,205.98 37,555.76 37,172.52 11,042.41 24,365.72
7,901.20 110,052.04 50,529.39 37,796.74 37,411.05 11,112.53 24,308.85
7,948.54 110,684.84 50,854.89 38,039.27 37,651.10 11,183.09 24,478.00
7,996.17 111,321.28 51,182.48 38,283.36 37,892.70 11,254.10 24,648.32
<CAPTION>
25 26 27 28 29 30 31
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------------
ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO
CA CA CA IA IA IA IA
- -----------------------------------------------------------------------------------------------------------------------------------
2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92
- -----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,094.27 2,606.03 2,738.95 6,731.92 3,534.07 3,177.33 3,321.48
5,126.02 2,622.28 2,756.03 6,773.88 3,556.10 3,197.14 3,342.18
5,157.97 2,638.62 2,773.20 6,816.10 3,578.27 3,217.07 3,363.02
5,190.12 2,655.07 2,790.49 6,858.59 3,600.57 3,237.12 3,383.98
5,222.48 2,671.62 2,807.88 6,901.34 3,623.02 3,257.30 3,405.07
5,255.03 2,688.27 2,825.39 6,944.36 3,645.60 3,277.60 3,426.30
5,287.79 2,705.03 2,843.00 6,987.65 3,668.33 3,298.03 3,447.65
5,320.75 2,721.89 2,860.72 7,031.20 3,691.19 3,318.59 3,469.14
5,353.91 2,738.86 2,878.55 7,075.03 3,714.20 3,339.28 3,490.77
5,387.28 2,755.93 2,896.49 7,119.13 3,737.35 3,360.09 3,512.53
5,420.87 2,773.11 2,914.55 7,163.51 3,760.65 3,381.04 3,534.42
5,454.66 2,790.39 2,932.72 7,208.16 3,784.09 3,402.11 3,556.45
5,488.66 2,807.79 2,951.00 7,253.09 3,807.68 3,423.32 3,578.62
5,522.87 2,825.29 2,969.39 7,298.30 3,831.41 3,444.66 3,600.93
5,557.29 2,842.90 2,987.90 7,343.79 3,855.29 3,466.13 3,623.37
5,591.94 2,860.62 3,006.53 7,389.57 3,879.33 3,487.73 3,645.96
5,626.79 2,878.45 3,025.27 7,435.63 3,903.51 3,509.47 3,668.69
5,661.87 2,896.39 3,044.12 7,481.98 3,927.84 3,531.35 3,691.55
5,697.16 2,914.45 3,063.10 7,528.62 3,952.32 3,553.36 3,714.57
5,732.67 2,932.61 3,082.19 7,575.55 3,976.96 3,575.51 3,737.72
5,768.40 2,950.89 3,101.40 7,622.77 4,001.75 3,597.80 3,761.02
5,804.36 2,969.29 3,120.74 7,670.28 4,026.69 3,620.22 3,784.46
5,840.54 2,987.80 3,140.19 7,718.09 4,051.79 3,642.79 3,808.05
5,876.95 3,006.42 3,159.76 7,766.20 4,077.05 3,665.50 3,831.79
5,913.58 3,025.16 3,179.46 7,814.61 4,102.46 3,688.35 3,855.67
5,950.44 3,044.02 3,199.28 7,863.32 4,128.03 3,711.34 3,879.71
5,987.53 3,062.99 3,219.22 7,912.34 4,153.77 3,734.47 3,903.89
6,024.85 3,082.08 3,239.29 7,961.66 4,179.66 3,757.75 3,928.22
6,062.41 3,101.30 3,259.48 8,011.29 4,205.71 3,781.17 3,952.71
6,100.20 3,120.63 3,279.80 8,061.22 4,231.93 3,804.74 3,977.35
6,138.22 3,140.08 3,300.24 8,111.47 4,258.30 3,828.46 4,002.14
6,176.48 3,159.65 3,320.81 8,162.03 4,284.85 3,852.32 4,027.09
6,214.98 3,179.35 3,341.51 8,212.91 4,311.56 3,876.33 4,052.19
6,253.72 3,199.17 3,362.34 8,264.10 4,338.43 3,900.50 4,077.45
6,292.71 3,219.11 3,383.30 8,315.62 4,365.48 3,924.81 4,102.87
6,331.93 3,239.17 3,404.39 8,367.45 4,392.69 3,949.27 4,128.44
6,371.40 3,259.36 3,425.61 8,419.61 4,420.07 3,973.89 4,154.17
6,411.11 3,279.68 3,446.96 8,472.09 4,447.62 3,998.66 4,180.07
6,451.08 3,300.12 3,468.45 8,524.90 4,475.34 4,023.59 4,206.12
6,491.29 3,320.69 3,490.07 8,578.04 4,503.24 4,048.67 4,232.34
6,531.75 3,341.39 3,511.82 8,631.51 4,531.31 4,073.90 4,258.72
6,572.47 3,362.22 3,533.71 8,685.31 4,559.55 4,099.30 4,285.27
6,613.43 3,383.18 3,555.74 8,739.45 4,587.98 4,124.85 4,311.98
6,654.66 3,404.27 3,577.90 8,793.92 4,616.57 4,150.56 4,338.86
6,696.14 3,425.49 3,600.21 8,848.74 4,645.35 4,176.43 4,365.90
6,737.88 3,446.84 3,622.65 8,903.90 4,674.31 4,202.47 4,393.12
6,779.88 3,468.33 3,645.23 8,959.40 4,703.44 4,228.66 4,420.50
6,822.14 3,489.94 3,667.95 9,015.25 4,732.76 4,255.02 4,448.06
6,864.66 3,511.70 3,690.81 9,071.44 4,762.26 4,281.54 4,475.78
6,907.45 3,533.59 3,713.82 9,127.99 4,791.95 4,308.23 4,503.68
6,950.51 3,555.61 3,736.97 9,184.88 4,821.82 4,335.09 4,531.76
6,993.83 3,577.78 3,760.26 9,242.14 4,851.87 4,362.11 4,560.00
7,037.43 3,600.08 3,783.70 9,299.74 4,882.12 4,389.30 4,588.43
7,081.30 3,622.52 3,807.29 9,357.71 4,912.55 4,416.66 4,617.03
7,125.44 3,645.10 3,831.02 9,416.04 4,943.17 4,444.19 4,645.81
7,169.85 3,667.82 3,854.90 9,474.74 4,973.98 4,471.89 4,674.77
7,214.54 3,690.68 3,878.93 9,533.80 5,004.99 4,499.77 4,703.91
7,259.51 3,713.69 3,903.11 9,593.22 5,036.18 4,527.81 4,733.23
7,304.77 3,736.84 3,927.44 9,653.02 5,067.58 4,556.04 4,762.73
7,350.30 3,760.13 3,951.92 9,713.19 5,099.16 4,584.44 4,792.42
7,396.11 3,783.57 3,976.55 9,773.74 5,130.95 4,613.01 4,822.29
7,442.22 3,807.15 4,001.34 9,834.66 5,162.93 4,641.77 4,852.35
7,488.61 3,830.88 4,026.28 9,895.96 5,195.11 4,670.70 4,882.60
<CAPTION>
32 33
-- --
HEILIG- HEILIG-
MEYERS MEYERS
- -----------------------------------
TWIN FALLS BOISE
ID ID
- -----------------------------------
1,268,563.31 2,012,010.19
- -----------------------------------
7.480% 7.480%
- -----------------------------------
10TH 10TH
- -----------------------------------
<S> <C>
2,688.92 4,264.77
2,705.68 4,291.35
2,722.54 4,318.10
2,739.51 4,345.01
2,756.59 4,372.10
2,773.77 4,399.35
2,791.06 4,426.77
2,808.46 4,454.37
2,825.96 4,482.13
2,843.58 4,510.07
2,861.30 4,538.18
2,879.14 4,566.47
2,897.09 4,594.94
2,915.15 4,623.58
2,933.32 4,652.40
2,951.60 4,681.40
2,970.00 4,710.58
2,988.51 4,739.94
3,007.14 4,769.49
3,025.88 4,799.22
3,044.75 4,829.13
3,063.73 4,859.23
3,082.82 4,889.52
3,102.04 4,920.00
3,121.37 4,950.67
3,140.83 4,981.53
3,160.41 5,012.58
3,180.11 5,043.83
3,199.93 5,075.27
3,219.88 5,106.90
3,239.95 5,138.73
3,260.14 5,170.77
3,280.47 5,203.00
3,300.91 5,235.43
3,321.49 5,268.06
3,342.19 5,300.90
3,363.03 5,333.94
3,383.99 5,367.19
3,405.08 5,400.65
3,426.31 5,434.31
3,447.67 5,468.18
3,469.16 5,502.27
3,490.78 5,536.57
3,512.54 5,571.08
3,534.43 5,605.80
3,556.47 5,640.75
3,578.63 5,675.91
3,600.94 5,711.29
3,623.39 5,746.89
3,645.97 5,782.71
3,668.70 5,818.76
3,691.57 5,855.03
3,714.58 5,891.52
3,737.73 5,928.25
3,761.03 5,965.20
3,784.47 6,002.38
3,808.06 6,039.80
3,831.80 6,077.44
3,855.69 6,115.33
3,879.72 6,153.45
3,903.90 6,191.80
3,928.24 6,230.40
3,952.72 6,269.23
</TABLE>
Page 8
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
16 17 18 19 20 21 24
-- -- -- -- -- -- --
HEALTH INS.
ECKERD FEDERAL FRED FRED FRED GIANT PLAN OF
CORPORATION INSURANCE MEYER MEYER MEYER FOOD GREATER NY
- ------------------------------------------------------------------------------------------------------------------------------------
NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS
FL NJ OR WA WA VA NY
- ------------------------------------------------------------------------------------------------------------------------------------
1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71
- ------------------------------------------------------------------------------------------------------------------------------------
7.190% 6.900% 7.730% 7.700% 7.700% 7.620% 8.350%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
8,044.08 111,961.38 51,512.18 38,529.01 38,135.84 11,325.57 24,819.84
8,092.28 112,605.15 51,844.00 38,776.23 38,380.55 11,397.48 24,992.54
8,140.76 135,702.44 52,177.96 39,025.05 38,626.82 11,469.86 31,782.40
8,189.54 136,482.73 52,514.08 39,275.46 38,874.68 11,542.69 32,003.55
8,238.61 137,267.51 52,852.36 39,527.48 39,124.12 11,615.99 32,226.24
8,287.97 138,056.80 53,192.81 39,781.11 39,375.17 11,689.75 32,450.48
8,337.63 138,850.62 53,535.46 40,036.37 39,627.83 11,763.98 32,676.28
8,387.59 139,649.01 53,880.32 40,293.27 39,882.10 11,838.68 32,903.66
8,437.84 140,452.00 54,227.40 40,551.82 40,138.01 11,913.86 33,132.61
8,488.40 141,259.59 54,576.72 40,812.03 40,395.57 11,989.51 33,125.42
8,539.26 142,071.84 54,928.28 41,073.91 40,654.77 12,065.64 33,355.92
8,590.42 142,888.75 55,282.11 41,337.46 40,915.64 12,142.26 33,588.02
8,641.89 143,710.36 55,638.22 41,602.71 41,178.18 12,219.36 33,821.73
8,693.67 144,536.70 55,996.62 41,869.66 41,442.41 12,296.96 34,057.08
8,745.76 145,367.78 56,357.33 42,138.33 41,708.33 12,375.04 34,294.06
8,798.16 146,203.65 56,720.37 42,408.72 41,975.96 12,453.62 34,532.69
8,850.88 147,044.32 57,085.74 42,680.84 42,245.30 12,532.70 34,772.98
8,903.91 147,889.82 57,453.47 42,954.71 42,516.38 12,612.29 35,014.94
8,957.26 148,740.19 57,823.57 43,230.33 42,789.19 12,692.37 35,258.58
9,010.93 149,595.44 58,196.05 43,507.73 43,063.76 12,772.97 35,503.93
9,064.92 150,455.62 58,570.93 43,786.90 43,340.08 12,854.08 35,750.97
9,119.23 151,320.74 58,948.22 44,067.87 43,618.18 12,935.70 35,750.12
9,173.87 152,190.83 59,327.94 44,350.64 43,898.06 13,017.84 35,998.88
9,228.84 153,065.93 59,710.12 44,635.22 44,179.74 13,100.51 36,249.37
9,284.14 153,946.06 60,094.75 44,921.63 44,463.23 13,183.70 36,501.61
9,339.76 154,831.25 60,481.86 45,209.88 44,748.54 13,267.41 36,755.60
9,395.72 155,721.53 60,871.46 45,499.97 45,035.67 13,351.66 37,011.36
9,452.02 156,616.93 61,263.58 45,791.93 45,324.65 13,436.44 37,268.89
9,508.65 157,517.47 61,658.22 46,085.76 45,615.48 13,521.77 37,528.22
9,565.63 158,423.20 62,055.40 46,381.48 45,908.18 13,607.63 37,789.36
9,622.94 159,334.13 62,455.14 46,679.09 46,202.76 13,694.04 38,052.31
9,680.60 160,250.30 62,857.45 46,978.62 46,499.23 13,780.99 38,317.09
9,738.60 161,171.74 63,262.36 47,280.07 46,797.60 13,868.50 38,583.71
9,796.95 162,098.48 63,669.87 47,583.45 47,097.88 13,956.57 38,590.09
9,855.65 163,030.55 64,080.01 47,888.77 47,400.09 14,045.19 38,858.61
9,914.70 163,967.97 64,492.80 48,196.06 47,704.25 14,134.38 39,129.00
9,974.11 164,910.79 64,908.24 48,505.32 48,010.35 14,224.13 39,401.28
10,033.87 165,859.03 65,326.35 48,816.56 48,318.41 14,314.46 39,675.44
10,093.99 166,812.72 65,747.17 49,129.80 48,628.46 14,405.35 39,951.52
10,154.47 167,771.89 66,170.69 49,445.05 48,940.49 14,496.83 40,229.52
10,215.31 168,736.58 66,596.94 49,762.32 49,254.52 14,588.88 40,509.45
10,276.52 169,706.81 67,025.93 50,081.63 49,570.57 14,681.52 40,791.32
10,338.09 170,682.63 67,457.69 50,402.99 49,888.65 14,774.75 41,075.16
10,400.03 171,664.05 67,892.23 50,726.41 50,208.77 14,868.57 41,360.98
10,462.35 172,651.12 68,329.57 51,051.90 50,530.94 14,962.98 41,648.78
10,525.03 173,643.86 68,769.73 51,379.48 50,855.18 15,058.00 41,663.38
10,588.10 174,642.32 69,212.72 51,709.17 51,181.51 15,153.62 41,953.29
10,651.54 175,646.51 69,658.56 52,040.97 51,509.92 15,249.84 42,245.21
10,715.36 176,656.48 70,107.28 52,374.90 51,840.44 15,346.68 42,539.17
10,779.56 177,672.25 70,558.89 52,710.97 52,173.08 15,444.13 42,835.17
11,275.02 178,693.87 71,013.40 53,049.20 52,507.86 15,542.20 43,133.23
11,342.57 179,721.36 71,470.85 53,389.60 52,844.79 15,640.89 43,433.37
11,410.54 180,754.75 71,931.24 53,732.18 53,183.87 15,740.21 43,735.59
11,478.90 181,794.09 72,394.60 54,076.96 53,525.14 15,840.16 44,039.92
11,547.68 182,839.41 72,860.94 54,423.96 53,868.59 15,940.75 44,346.36
11,616.87 183,890.74 73,330.28 54,773.18 54,214.25 16,041.97 44,654.94
11,686.48 184,948.11 73,802.65 55,124.64 54,562.12 16,143.84 44,965.66
11,756.50 186,011.56 74,278.07 55,478.35 54,912.23 16,246.35 44,989.58
11,826.94 187,081.13 74,756.54 55,834.34 55,264.58 16,349.52 45,302.63
11,897.80 188,156.84 75,238.10 56,192.61 55,619.20 16,453.34 45,617.86
11,969.09 189,238.75 75,722.76 56,553.18 55,976.09 16,557.81 45,935.29
12,040.80 86,664.71 76,210.54 56,916.06 56,335.27 16,662.96 46,254.92
12,112.95 0.00 76,701.46 57,281.27 56,696.75 16,768.77 53,540.55
<CAPTION>
25 26 27 28 29 30 31
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------------
ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO
CA CA CA IA IA IA IA
- -----------------------------------------------------------------------------------------------------------------------------------
2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92
- -----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,535.29 3,854.76 4,051.38 9,957.65 5,227.50 4,699.82 4,913.03
7,582.26 3,878.79 4,076.63 10,019.72 5,260.08 4,729.11 4,943.66
7,629.52 3,902.97 4,102.04 10,082.17 5,292.87 4,758.59 4,974.47
7,677.08 3,927.30 4,127.61 10,145.02 5,325.86 4,788.25 5,005.48
7,724.93 3,951.78 4,153.34 10,208.26 5,359.06 4,818.10 5,036.68
7,773.08 3,976.41 4,179.23 10,271.89 5,392.47 4,848.13 5,068.07
7,821.53 4,001.20 4,205.28 10,335.92 5,426.08 4,878.35 5,099.67
7,870.29 4,026.14 4,231.49 10,400.34 5,459.90 4,908.76 5,131.45
7,919.35 4,051.23 4,257.87 10,465.17 5,493.93 4,939.36 5,163.44
7,968.71 4,076.49 4,284.41 10,530.40 5,528.18 4,970.15 5,195.63
8,018.38 4,101.90 4,311.11 10,596.04 5,562.64 5,001.13 5,228.01
8,068.36 4,127.47 4,337.99 10,662.09 5,597.31 5,032.30 5,260.60
8,118.66 4,153.19 4,365.03 10,728.55 5,632.20 5,063.67 5,293.39
8,169.26 4,179.08 4,392.24 10,795.43 5,667.31 5,095.23 5,326.39
8,220.18 4,205.13 4,419.61 10,862.72 5,702.64 5,126.99 5,359.59
8,271.42 4,231.34 4,447.16 10,930.43 5,738.18 5,158.95 5,393.00
8,322.98 4,257.72 4,474.88 10,998.56 5,773.95 5,191.11 5,426.61
8,374.86 4,284.26 4,502.78 11,067.12 5,809.94 5,223.47 5,460.44
8,427.07 4,310.96 4,530.84 11,136.11 5,846.16 5,256.03 5,494.47
8,479.59 4,337.84 4,559.09 11,205.52 5,882.60 5,288.79 5,528.72
8,532.45 4,364.87 4,587.51 11,275.37 5,919.27 5,321.75 5,563.19
8,585.64 4,392.08 4,616.10 11,345.65 5,956.16 5,354.93 5,597.86
8,639.15 4,419.46 4,644.87 11,416.37 5,993.29 5,388.31 5,632.76
8,693.00 4,447.01 4,673.83 11,487.53 6,030.65 5,421.89 5,667.87
8,747.19 4,474.73 4,702.96 11,559.14 6,068.24 5,455.69 5,703.20
8,801.71 4,502.62 4,732.28 11,631.19 6,106.06 5,489.70 5,738.75
8,856.58 4,530.69 4,761.77 11,703.69 6,144.12 5,523.92 5,774.52
8,911.78 4,558.93 4,791.46 11,776.65 6,182.42 5,558.35 5,810.51
8,967.33 4,587.34 4,821.32 11,850.05 6,220.96 5,593.00 5,846.73
9,023.23 4,615.94 4,851.38 11,923.92 6,259.74 5,627.86 5,883.18
9,079.48 4,644.71 4,881.62 11,998.25 6,298.76 5,662.94 5,919.85
9,136.07 4,673.66 4,912.04 12,073.03 6,338.02 5,698.24 5,956.75
9,193.02 4,702.80 4,942.66 12,148.29 6,377.53 5,733.76 5,993.88
9,250.32 4,732.11 4,973.47 12,224.01 6,417.28 5,769.50 6,031.24
9,307.98 4,761.61 5,004.47 12,300.21 6,457.28 5,805.46 6,068.84
9,366.00 4,791.29 5,035.67 12,376.88 6,497.53 5,841.65 6,106.66
9,424.38 4,821.15 5,067.06 12,454.03 6,538.03 5,878.06 6,144.73
9,483.13 4,851.21 5,098.64 12,531.66 6,578.79 5,914.70 6,183.03
9,542.24 4,881.44 5,130.42 12,609.78 6,619.79 5,951.57 6,221.57
9,601.72 4,911.87 5,162.40 12,688.38 6,661.06 5,988.67 6,260.35
9,661.57 4,942.49 5,194.58 12,767.47 6,702.58 6,026.00 6,299.38
9,721.79 4,973.30 5,226.96 12,847.05 6,744.36 6,063.56 6,338.64
9,782.39 5,004.30 5,259.54 12,927.13 6,786.40 6,101.35 6,378.15
9,843.37 5,035.49 5,292.33 13,007.71 6,828.70 6,139.39 6,417.91
9,904.73 5,066.88 5,325.32 13,088.79 6,871.26 6,177.65 6,457.92
9,966.47 5,098.46 5,358.51 13,170.38 6,914.09 6,216.16 6,498.17
10,028.59 5,130.24 5,391.91 13,252.47 6,957.19 6,254.91 6,538.67
10,091.10 5,162.22 5,425.52 13,335.08 7,000.56 6,293.90 6,579.43
10,154.00 5,194.40 5,459.34 13,418.20 7,044.20 6,333.13 6,620.44
10,217.30 5,226.78 5,493.37 13,501.84 7,088.10 6,372.61 6,661.71
10,280.99 5,259.36 5,527.61 13,586.00 7,132.29 6,412.33 6,703.24
10,345.07 5,292.14 5,562.07 13,670.69 7,176.75 6,452.30 6,745.02
10,409.55 5,325.13 5,596.74 13,755.90 7,221.48 6,492.52 6,787.06
10,474.44 5,358.32 5,631.62 13,841.65 7,266.49 6,532.99 6,829.37
10,539.73 5,391.72 5,666.73 13,927.93 7,311.79 6,573.71 6,871.94
10,605.43 5,425.33 5,702.05 14,014.75 7,357.37 6,614.69 6,914.77
10,671.54 5,459.15 5,737.59 14,102.10 7,403.23 6,655.92 6,957.88
10,738.06 5,493.18 5,773.36 14,190.01 7,449.37 6,697.41 7,001.25
10,804.99 5,527.42 5,809.35 14,278.46 7,495.81 6,739.15 7,044.89
10,872.34 5,561.87 5,845.56 14,367.46 7,542.53 6,781.16 7,088.80
10,940.11 5,596.54 5,881.99 14,457.02 7,589.55 6,823.43 7,132.99
11,008.30 5,631.43 5,918.66 14,547.13 7,636.85 6,865.96 7,177.45
11,076.92 5,666.53 5,955.55 14,637.81 7,684.46 6,908.76 7,222.19
<CAPTION>
32 33
-- --
HEILIG- HEILIG-
MEYERS MEYERS
- -----------------------------------
TWIN FALLS BOISE
ID ID
- -----------------------------------
1,268,563.31 2,012,010.19
- -----------------------------------
7.480% 7.480%
- -----------------------------------
10TH 10TH
- -----------------------------------
<S> <C>
3,977.36 6,308.31
4,002.15 6,347.63
4,027.10 6,387.20
4,052.20 6,427.02
4,077.46 6,467.08
4,102.88 6,507.39
4,128.45 6,547.95
4,154.19 6,588.77
4,180.08 6,629.84
4,206.14 6,671.16
4,232.36 6,712.75
4,258.74 6,754.59
4,285.28 6,796.69
4,312.00 6,839.06
4,338.87 6,881.69
4,365.92 6,924.58
4,393.13 6,967.75
4,420.52 7,011.18
4,448.07 7,054.88
4,475.80 7,098.86
4,503.70 7,143.11
4,531.77 7,187.63
4,560.02 7,232.44
4,588.44 7,277.52
4,617.04 7,322.88
4,645.82 7,368.53
4,674.78 7,414.46
4,703.92 7,460.68
4,733.24 7,507.18
4,762.75 7,553.97
4,792.43 7,601.06
4,822.31 7,648.44
4,852.37 7,696.12
4,882.61 7,744.09
4,913.05 7,792.36
4,943.67 7,840.93
4,974.49 7,889.81
5,005.50 7,938.99
5,036.70 7,988.47
5,068.09 8,038.27
5,099.68 8,088.37
5,131.47 8,138.79
5,163.46 8,189.52
5,195.64 8,240.57
5,228.03 8,291.94
5,260.62 8,343.62
5,293.41 8,395.63
5,326.40 8,447.97
5,359.61 8,500.62
5,393.01 8,553.61
5,426.63 8,606.93
5,460.46 8,660.58
5,494.49 8,714.56
5,528.74 8,768.88
5,563.20 8,823.54
5,597.88 8,878.54
5,632.77 8,933.89
5,667.89 8,989.57
5,703.22 9,045.61
5,738.77 9,101.99
5,774.54 9,158.73
5,810.53 9,215.82
5,846.75 9,273.26
</TABLE>
Page 9
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
16 17 18 19 20 21 24
-- -- -- -- -- -- --
HEALTH INS.
ECKERD FEDERAL FRED FRED FRED GIANT PLAN OF
CORPORATION INSURANCE MEYER MEYER MEYER FOOD GREATER NY
- ------------------------------------------------------------------------------------------------------------------------------------
NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS
FL NJ OR WA WA VA NY
- ------------------------------------------------------------------------------------------------------------------------------------
1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71
- ------------------------------------------------------------------------------------------------------------------------------------
7.190% 6.900% 7.730% 7.700% 7.700% 7.620% 8.350%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
12,185.52 0.00 77,195.55 57,648.83 57,060.56 16,875.25 53,913.10
12,258.54 0.00 77,692.81 58,018.74 57,426.69 16,982.41 54,288.24
12,331.99 0.00 78,193.28 58,391.03 57,795.18 17,090.24 54,666.00
12,405.87 0.00 78,696.98 58,765.71 58,166.03 17,198.77 55,046.38
12,480.21 0.00 79,203.92 59,142.79 58,539.27 17,307.98 55,429.41
12,554.98 0.00 79,714.12 59,522.28 58,914.89 17,417.89 55,815.11
12,630.21 0.00 80,227.62 59,904.22 59,292.93 17,528.49 55,900.07
12,705.88 0.00 80,744.42 60,288.60 59,673.39 17,639.79 56,289.04
12,782.01 0.00 81,264.54 60,675.46 60,056.30 17,751.81 56,680.72
12,858.60 0.00 81,788.02 61,064.79 60,441.66 17,864.53 57,075.12
12,935.64 0.00 82,314.87 61,456.62 60,829.49 17,977.97 57,472.27
13,013.15 0.00 82,845.12 61,850.97 61,219.82 18,092.13 57,872.18
13,091.12 0.00 83,378.78 62,247.85 61,612.64 18,207.02 58,274.88
13,169.56 0.00 83,915.88 62,647.27 62,007.99 18,322.63 58,680.37
13,248.47 0.00 84,456.44 63,049.26 62,405.88 18,438.98 59,088.69
13,327.85 0.00 85,000.48 63,453.82 62,806.31 18,556.07 59,499.85
13,407.70 0.00 85,548.02 63,860.99 63,209.32 18,673.90 59,913.87
13,488.04 0.00 86,099.09 64,270.76 63,614.91 18,792.48 60,330.77
13,568.85 0.00 86,653.72 64,683.16 64,023.11 18,911.81 60,431.98
13,650.15 0.00 87,211.91 65,098.21 64,433.92 19,031.90 60,852.49
13,731.94 0.00 87,773.70 65,515.93 64,847.38 19,152.75 61,275.92
13,814.22 0.00 88,339.11 65,936.32 65,263.48 19,274.37 61,702.30
13,896.99 0.00 88,908.16 66,359.41 65,682.25 19,396.76 62,131.64
13,980.25 0.00 89,480.88 66,785.22 66,103.71 19,519.93 62,563.97
14,064.02 0.00 90,057.28 67,213.76 66,527.88 19,643.89 62,999.32
14,148.29 0.00 90,637.40 67,645.05 66,954.77 19,768.62 63,437.69
14,233.06 0.00 91,221.26 68,079.10 67,384.39 19,894.16 63,879.11
14,318.34 0.00 91,808.87 68,515.94 67,816.78 20,020.48 64,323.60
14,404.13 0.00 92,400.28 68,955.59 68,251.93 20,147.61 64,771.18
14,490.43 0.00 92,995.49 69,398.05 68,689.88 20,275.55 65,221.88
14,577.25 0.00 93,594.53 69,843.36 69,130.64 20,404.30 65,341.20
14,664.60 0.00 94,197.44 70,291.52 69,574.23 20,533.87 65,795.86
14,752.46 0.00 94,804.23 70,742.55 70,020.67 20,664.26 66,253.69
14,840.85 0.00 95,414.92 71,196.49 70,469.97 20,795.48 66,714.71
14,929.77 0.00 96,029.56 71,653.33 70,922.15 20,927.53 67,178.93
15,019.23 0.00 96,648.15 72,113.11 71,377.23 21,060.42 67,646.39
15,109.22 0.00 97,270.72 72,575.83 71,835.24 21,194.15 68,117.09
15,199.75 0.00 97,897.31 73,041.53 72,296.18 21,328.73 68,591.07
15,290.82 0.00 98,527.93 73,510.21 72,760.08 21,464.17 69,068.35
15,382.44 0.00 99,162.61 73,981.90 73,226.96 21,600.47 69,548.95
15,474.60 0.00 99,801.38 74,456.62 73,696.83 21,737.63 70,032.90
15,567.32 0.00 100,444.27 74,934.38 74,169.72 21,875.66 70,520.21
15,660.60 0.00 101,091.30 75,415.21 74,645.64 22,014.58 70,659.67
15,754.43 0.00 101,742.50 75,899.12 75,124.62 22,154.37 71,151.35
15,848.83 0.00 102,397.89 76,386.14 75,606.67 22,295.05 71,646.44
15,943.79 0.00 103,057.50 76,876.29 76,091.81 22,436.62 72,144.98
14,968.07 0.00 103,721.36 77,369.58 76,580.06 22,579.09 72,646.99
0.00 0.00 104,389.50 77,866.03 77,071.45 22,722.47 73,152.49
0.00 0.00 105,061.94 78,365.67 77,566.00 22,866.76 73,661.51
0.00 0.00 105,738.72 78,868.52 78,063.71 23,011.96 74,174.07
0.00 0.00 106,419.85 79,374.59 78,564.62 23,158.09 74,690.20
0.00 0.00 107,105.37 79,883.91 79,068.74 23,305.14 75,209.92
0.00 0.00 107,795.31 80,396.50 79,576.10 23,453.13 75,733.26
0.00 0.00 108,489.69 80,912.38 80,086.71 23,602.06 76,260.23
0.00 0.00 109,188.55 81,431.57 80,600.60 23,751.93 76,422.07
0.00 0.00 109,891.90 81,954.09 81,117.79 23,902.76 76,953.84
0.00 0.00 110,599.79 82,479.96 81,638.30 24,054.54 77,489.31
0.00 0.00 111,312.24 83,009.20 82,162.14 24,207.28 78,028.51
0.00 0.00 112,029.27 83,541.85 82,689.35 24,361.00 78,571.45
0.00 0.00 112,750.93 84,077.91 83,219.94 24,515.69 86,451.51
0.00 0.00 113,477.23 84,617.41 83,753.93 24,671.37 87,053.07
0.00 0.00 114,208.21 85,160.37 84,291.35 24,828.03 87,658.81
0.00 0.00 114,943.91 85,706.81 84,832.22 24,985.69 88,268.77
<CAPTION>
25 26 27 28 29 30 31
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO
CA CA CA IA IA IA IA
- ------------------------------------------------------------------------------------------------------------------------------------
2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,145.97 5,701.85 5,992.67 14,729.05 7,732.36 6,951.83 7,267.21
11,215.45 5,737.39 6,030.03 14,820.86 7,780.56 6,995.16 7,312.51
11,285.36 5,773.16 6,067.62 14,913.25 7,829.05 7,038.76 7,358.09
11,355.70 5,809.14 6,105.44 15,006.21 7,877.86 7,082.64 7,403.95
11,426.48 5,845.35 6,143.49 15,099.75 7,926.96 7,126.79 7,450.11
11,497.71 5,881.79 6,181.79 15,193.87 7,976.37 7,171.21 7,496.54
11,569.38 5,918.45 6,220.32 15,288.58 8,026.09 7,215.91 7,543.27
11,641.49 5,955.34 6,259.10 15,383.87 8,076.12 7,260.89 7,590.29
11,714.06 5,992.46 6,298.11 15,479.77 8,126.46 7,306.15 7,637.61
11,787.08 6,029.82 6,337.37 15,576.26 8,177.12 7,351.69 7,685.21
11,860.55 6,067.40 6,376.87 15,673.35 8,228.09 7,397.52 7,733.12
11,934.48 6,105.22 6,416.62 15,771.05 8,279.38 7,443.63 7,781.32
12,008.87 6,143.28 6,456.62 15,869.35 8,330.98 7,490.03 7,829.82
12,083.73 6,181.57 6,496.86 15,968.27 8,382.91 7,536.71 7,878.63
12,159.05 6,220.10 6,537.36 16,067.81 8,435.17 7,583.69 7,927.74
12,234.84 6,258.88 6,578.11 16,167.96 8,487.75 7,630.96 7,977.16
12,311.11 6,297.89 6,619.11 16,268.74 8,540.65 7,678.53 8,026.88
12,387.84 6,337.15 6,660.37 16,370.15 8,593.89 7,726.39 8,076.92
12,465.06 6,376.65 6,701.89 16,472.19 8,647.46 7,774.56 8,127.26
12,542.76 6,416.40 6,743.66 16,574.87 8,701.36 7,823.02 8,177.92
12,620.94 6,456.39 6,785.70 16,678.19 8,755.60 7,871.78 8,228.90
12,699.61 6,496.64 6,828.00 16,782.15 8,810.18 7,920.85 8,280.19
12,778.78 6,537.13 6,870.56 16,886.76 8,865.09 7,970.22 8,331.80
12,858.43 6,577.88 6,913.39 16,992.02 8,920.35 8,019.90 8,383.74
12,938.58 6,618.88 6,956.48 17,097.93 8,975.96 8,069.89 8,436.00
13,019.23 6,660.14 6,999.84 17,204.51 9,031.91 8,120.19 8,488.58
13,100.38 6,701.66 7,043.47 17,311.75 9,088.21 8,170.81 8,541.49
13,182.04 6,743.43 7,087.38 17,419.66 9,144.86 8,221.74 8,594.74
13,264.21 6,785.46 7,131.56 17,528.25 9,201.86 8,272.99 8,648.31
13,346.89 6,827.76 7,176.01 17,637.50 9,259.22 8,324.56 8,702.22
13,430.09 6,870.32 7,220.74 17,747.45 9,316.93 8,376.45 8,756.46
13,513.80 6,913.14 7,265.75 17,858.07 9,375.01 8,428.66 8,811.04
13,598.04 6,956.24 7,311.04 17,969.39 9,433.45 8,481.20 8,865.97
13,682.80 6,999.60 7,356.61 18,081.40 9,492.25 8,534.07 8,921.23
13,768.09 7,043.23 7,402.47 18,194.10 9,551.42 8,587.26 8,976.84
13,853.91 7,087.13 7,448.61 18,307.51 9,610.95 8,640.79 9,032.79
13,940.27 7,131.31 7,495.04 18,421.63 9,670.86 8,694.65 9,089.10
14,027.16 7,175.76 7,541.76 18,536.46 9,731.14 8,748.85 9,145.75
14,114.60 7,220.49 7,588.77 18,652.00 9,791.80 8,803.38 9,202.76
14,202.58 7,265.49 7,636.07 18,768.27 9,852.84 8,858.26 9,260.13
14,291.11 7,310.78 7,683.67 18,885.25 9,914.25 8,913.47 9,317.85
14,380.19 7,356.35 7,731.56 19,002.97 9,976.05 8,969.03 9,375.93
14,469.82 7,402.21 7,779.76 19,121.42 10,038.23 9,024.94 9,434.37
14,560.02 7,448.35 7,828.25 19,240.61 10,100.81 9,081.20 9,493.18
14,650.78 7,494.78 7,877.05 19,360.55 10,163.77 9,137.80 9,552.35
14,742.10 7,541.49 7,926.15 19,481.23 10,227.12 9,194.76 9,611.90
14,833.99 7,588.50 7,975.55 19,602.66 10,290.87 9,252.07 9,671.81
14,926.46 7,635.80 8,025.27 19,724.85 10,355.02 9,309.75 9,732.10
15,019.50 7,683.40 8,075.29 19,847.80 10,419.56 9,367.78 9,792.76
15,113.12 7,731.29 8,125.63 19,971.52 10,484.51 9,426.17 9,853.80
15,207.33 7,779.49 8,176.28 20,096.01 10,549.87 9,484.93 9,915.23
15,302.12 7,827.98 8,227.24 20,221.28 10,615.63 9,544.05 9,977.03
15,397.50 7,876.77 8,278.53 20,347.32 10,681.80 9,603.54 10,039.22
15,493.48 7,925.87 8,330.13 20,474.15 10,748.38 9,663.40 10,101.80
15,590.06 7,975.28 8,382.05 20,601.78 10,815.38 9,723.64 10,164.77
15,687.23 8,024.99 8,434.30 20,730.19 10,882.79 9,784.25 10,228.13
15,785.02 8,075.01 8,486.88 20,859.41 10,950.63 9,845.24 10,291.88
15,883.41 8,125.34 8,539.78 20,989.43 11,018.89 9,906.60 10,356.04
15,982.42 8,175.99 8,593.01 21,120.27 11,087.57 9,968.36 10,420.59
16,082.04 8,226.96 8,646.57 21,251.92 11,156.69 10,030.49 10,485.54
16,182.29 8,278.24 8,700.47 21,384.39 11,226.23 10,093.02 10,550.90
16,283.15 8,329.84 8,754.70 21,517.68 11,296.21 10,155.93 10,616.67
16,384.65 8,381.76 8,809.27 21,651.81 11,366.62 10,219.23 10,682.85
<CAPTION>
32 33
-- --
HEILIG- HEILIG-
MEYERS MEYERS
- ---------------------------------------
TWIN FALLS BOISE
ID ID
- ---------------------------------------
1,268,563.31 2,012,010.19
- ---------------------------------------
7.480% 7.480%
- ---------------------------------------
10TH 10TH
- ---------------------------------------
<S> <C>
5,883.20 9,331.07
5,919.87 9,389.23
5,956.77 9,447.76
5,993.90 9,506.65
6,031.26 9,565.91
6,068.86 9,625.53
6,106.68 9,685.53
6,144.75 9,745.91
6,183.05 9,806.66
6,221.59 9,867.78
6,260.37 9,929.29
6,299.40 9,991.19
6,338.66 10,053.46
6,378.17 10,116.13
6,417.93 10,179.19
6,457.94 10,242.64
6,498.19 10,306.48
6,538.70 10,370.73
6,579.45 10,435.37
6,620.47 10,500.42
6,661.73 10,565.87
6,703.26 10,631.73
6,745.04 10,698.00
6,787.09 10,764.69
6,829.39 10,831.79
6,871.96 10,899.31
6,914.80 10,967.24
6,957.90 11,035.61
7,001.27 11,104.40
7,044.91 11,173.61
7,088.83 11,243.26
7,133.01 11,313.35
7,177.48 11,383.86
7,222.21 11,454.82
7,267.23 11,526.23
7,312.53 11,598.07
7,358.11 11,670.37
7,403.98 11,743.11
7,450.13 11,816.31
7,496.57 11,889.97
7,543.30 11,964.08
7,590.32 12,038.66
7,637.63 12,113.70
7,685.24 12,189.21
7,733.14 12,265.19
7,781.35 12,341.64
7,829.85 12,418.57
7,878.66 12,495.98
7,927.77 12,573.87
7,977.18 12,652.25
8,026.91 12,731.11
8,076.94 12,810.47
8,127.29 12,890.32
8,177.95 12,970.67
8,228.92 13,051.52
8,280.22 13,132.88
8,331.83 13,214.74
8,383.77 13,297.11
8,436.03 13,379.99
8,488.61 13,463.40
8,541.52 13,547.32
8,594.76 13,631.76
8,648.34 13,716.73
</TABLE>
Page 10
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
16 17 18 19 20 21 24
-- -- -- -- -- -- --
HEALTH INS.
ECKERD FEDERAL FRED FRED FRED GIANT PLAN OF
CORPORATION INSURANCE MEYER MEYER MEYER FOOD GREATER NY
- ------------------------------------------------------------------------------------------------------------------------------------
NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS
FL NJ OR WA WA VA NY
- ------------------------------------------------------------------------------------------------------------------------------------
1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71
- ------------------------------------------------------------------------------------------------------------------------------------
7.190% 6.900% 7.730% 7.700% 7.700% 7.620% 8.350%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 115,684.34 86,256.77 85,376.56 25,144.35 88,882.98
0.00 0.00 116,429.54 86,810.25 85,924.40 25,304.01 89,501.45
0.00 0.00 117,179.54 87,367.28 86,475.75 25,464.70 90,124.23
0.00 0.00 117,934.37 87,927.89 87,030.63 25,626.40 90,364.11
0.00 0.00 118,694.06 88,492.09 87,589.08 25,789.12 90,992.89
0.00 0.00 119,458.65 89,059.91 88,151.11 25,952.88 91,626.05
0.00 0.00 120,228.16 89,631.38 88,716.74 26,117.69 92,263.62
0.00 0.00 121,002.63 90,206.52 89,286.01 26,283.53 92,905.62
0.00 0.00 121,782.09 90,785.34 89,858.93 26,450.43 93,552.08
0.00 0.00 122,566.57 91,367.88 90,435.52 26,618.39 94,203.05
0.00 0.00 123,356.10 91,954.16 91,015.82 26,787.42 94,858.55
0.00 0.00 124,150.72 92,544.20 91,599.84 26,957.52 95,518.60
0.00 0.00 124,950.46 93,138.02 92,187.60 27,128.70 96,183.26
0.00 0.00 125,755.35 93,735.66 92,779.14 27,300.97 96,852.53
0.00 0.00 126,565.42 94,337.13 93,374.47 27,474.33 97,526.46
0.00 0.00 127,380.71 94,942.46 93,973.62 27,648.79 97,798.47
0.00 0.00 128,201.26 95,551.67 94,576.62 27,824.36 98,478.99
0.00 0.00 129,027.09 96,164.80 95,183.49 28,001.05 99,164.24
0.00 0.00 129,858.24 96,781.85 95,794.25 28,178.85 99,854.26
0.00 0.00 130,694.74 97,402.87 96,408.93 28,357.79 100,549.08
0.00 0.00 131,536.63 98,027.87 97,027.55 28,537.86 101,248.73
0.00 0.00 132,383.95 98,656.88 97,650.15 28,719.08 101,953.25
0.00 0.00 133,236.72 99,289.93 98,276.73 28,901.44 102,662.68
0.00 0.00 134,094.99 99,927.04 98,907.34 29,084.97 103,377.04
0.00 0.00 134,958.78 100,568.24 99,542.00 29,269.66 104,096.37
0.00 0.00 135,828.14 101,213.55 100,180.73 29,455.52 104,820.71
0.00 0.00 136,703.10 101,863.01 100,823.55 29,642.56 105,550.08
0.00 0.00 137,583.70 102,516.63 101,470.50 29,830.79 105,857.60
0.00 0.00 138,469.97 103,174.44 102,121.61 30,020.22 106,594.19
0.00 0.00 139,361.94 103,836.48 102,776.89 30,210.84 107,335.91
0.00 0.00 140,259.67 104,502.76 103,436.37 30,402.68 108,082.79
0.00 0.00 141,163.19 105,170.93 104,102.45 30,595.74 108,834.86
0.00 0.00 0.00 0.00 0.00 30,790.02 109,592.17
0.00 0.00 0.00 0.00 0.00 30,985.54 110,354.75
0.00 0.00 0.00 0.00 0.00 31,182.30 111,122.64
0.00 0.00 0.00 0.00 0.00 31,380.31 111,895.86
0.00 0.00 0.00 0.00 0.00 31,579.57 112,674.47
0.00 0.00 0.00 0.00 0.00 31,780.10 113,458.50
0.00 0.00 0.00 0.00 0.00 31,981.90 114,247.98
0.00 0.00 0.00 0.00 0.00 32,184.99 114,594.68
0.00 0.00 0.00 0.00 0.00 32,389.36 115,392.06
0.00 0.00 0.00 0.00 0.00 32,595.04 116,195.00
0.00 0.00 0.00 0.00 0.00 32,802.01 117,003.52
0.00 0.00 0.00 0.00 0.00 33,010.31 117,817.67
0.00 0.00 0.00 0.00 0.00 33,219.92 118,637.49
0.00 0.00 0.00 0.00 0.00 33,430.87 119,463.01
0.00 0.00 0.00 0.00 0.00 33,643.16 120,294.27
0.00 0.00 0.00 0.00 0.00 33,856.79 121,131.32
0.00 0.00 0.00 0.00 0.00 34,071.78 121,974.19
0.00 0.00 0.00 0.00 0.00 34,288.14 122,822.93
0.00 0.00 0.00 0.00 0.00 34,505.87 123,677.57
0.00 0.00 0.00 0.00 0.00 34,724.98 124,067.46
0.00 0.00 0.00 0.00 0.00 34,945.48 124,930.76
0.00 0.00 0.00 0.00 0.00 35,167.39 125,800.07
0.00 0.00 0.00 0.00 0.00 35,389.24 126,675.43
0.00 0.00 0.00 0.00 0.00 0.00 127,556.88
0.00 0.00 0.00 0.00 0.00 0.00 136,161.86
0.00 0.00 0.00 0.00 0.00 0.00 137,109.31
0.00 0.00 0.00 0.00 0.00 0.00 138,063.37
0.00 0.00 0.00 0.00 0.00 0.00 139,024.06
0.00 0.00 0.00 0.00 0.00 0.00 139,991.43
0.00 0.00 0.00 0.00 0.00 0.00 140,965.54
0.00 0.00 0.00 0.00 0.00 0.00 141,946.92
<CAPTION>
25 26 27 28 29 30 31
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------------
ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO
CA CA CA IA IA IA IA
- -----------------------------------------------------------------------------------------------------------------------------------
2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92
- -----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
16,486.78 8,434.01 8,864.18 21,786.77 11,437.47 10,282.93 10,749.44
16,589.55 8,486.58 8,919.44 21,922.58 11,508.77 10,347.03 10,816.44
16,692.96 8,539.48 8,975.04 22,059.23 11,580.50 10,411.53 10,883.86
16,797.01 8,592.71 9,030.98 22,196.73 11,652.69 10,476.43 10,951.71
16,901.71 8,646.27 9,087.27 22,335.09 11,725.32 10,541.73 11,019.97
17,007.07 8,700.16 9,143.92 22,474.31 11,798.41 10,607.44 11,088.66
17,113.08 8,754.40 9,200.91 22,614.40 11,871.95 10,673.56 11,157.78
17,219.75 8,808.96 9,258.27 22,755.37 11,945.96 10,740.09 11,227.33
17,327.09 8,863.87 9,315.98 22,897.21 12,020.42 10,807.04 11,297.32
17,435.09 8,919.13 9,374.05 23,039.93 12,095.35 10,874.40 11,367.74
17,543.77 8,974.72 9,432.48 23,183.55 12,170.74 10,942.18 11,438.60
17,653.13 9,030.66 9,491.27 23,328.06 12,246.61 11,010.39 11,509.90
17,763.17 9,086.95 9,550.44 23,473.47 12,322.94 11,079.02 11,581.64
17,873.89 9,143.60 9,609.97 23,619.79 12,399.76 11,148.08 11,653.83
17,985.30 9,200.59 9,669.87 23,767.02 12,477.05 11,217.57 11,726.48
18,097.41 9,257.94 9,730.14 23,915.17 12,554.82 11,287.49 11,799.57
18,210.22 9,315.65 9,790.80 24,064.24 12,633.08 11,357.85 11,873.12
18,323.73 9,373.72 9,851.82 24,214.24 12,711.83 11,428.65 11,947.13
18,437.95 9,432.15 9,913.23 24,365.18 12,791.06 11,499.89 12,021.60
18,552.88 9,490.94 9,975.03 24,517.05 12,870.79 11,571.57 12,096.54
18,668.52 9,550.09 10,037.21 24,669.85 12,951.02 11,643.69 12,171.96
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
32 33
-- --
HEILIG- HEILIG-
MEYERS MEYERS
- -----------------------------------
TWIN FALLS BOISE
ID ID
- -----------------------------------
1,268,563.31 2,012,010.19
- -----------------------------------
7.480% 7.480%
- -----------------------------------
10TH 10TH
- -----------------------------------
<S> <C>
8,702.25 13,802.24
8,756.49 13,888.27
8,811.07 13,974.84
8,866.00 14,061.95
8,921.26 14,149.60
8,976.87 14,237.80
9,032.83 14,326.55
9,089.13 14,415.85
9,145.79 14,505.71
9,202.79 14,596.13
9,260.16 14,687.11
9,317.88 14,778.66
9,375.96 14,870.78
9,434.40 14,963.48
9,493.21 15,056.75
9,552.39 15,150.60
9,611.93 15,245.04
9,671.84 15,340.07
9,732.13 15,435.69
9,792.80 15,531.91
9,853.85 15,628.72
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
</TABLE>
Page 11
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
16 17 18 19 20 21 24
-- -- -- -- -- -- --
HEALTH INS.
ECKERD FEDERAL FRED FRED FRED GIANT PLAN OF
CORPORATION INSURANCE MEYER MEYER MEYER FOOD GREATER NY
- ------------------------------------------------------------------------------------------------------------------------------------
NEPTUNE BEACH FLORHAM PARK JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS
FL NJ OR WA WA VA NY
- ------------------------------------------------------------------------------------------------------------------------------------
1,876,468.15 17,912,874.88 18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71
- ------------------------------------------------------------------------------------------------------------------------------------
7.190% 6.900% 7.730% 7.700% 7.700% 7.620% 8.350%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
25 26 27 28 29 30 31
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------------
ANTIOCH VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO
CA CA CA IA IA IA IA
- -----------------------------------------------------------------------------------------------------------------------------------
2,403,348.19 1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92
- -----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
32 33
-- --
HEILIG- HEILIG-
MEYERS MEYERS
- -----------------------------------
TWIN FALLS BOISE
ID ID
- -----------------------------------
1,268,563.31 2,012,010.19
- -----------------------------------
7.480% 7.480%
- -----------------------------------
10TH 10TH
- -----------------------------------
<C> <C>
0.00 0.00
</TABLE>
Page 12
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
34 35 36 37 38 39 40
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE HILLSBORO
IL IL LA MT OR OR OR
- -----------------------------------------------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24 1,691,867.24
- -----------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,556.72 2,589.40 1,266.49 1,512.53 2,677.89 2,677.89 2,677.89
2,572.66 2,605.54 1,274.38 1,521.96 2,694.58 2,694.58 2,694.58
2,588.70 2,621.78 1,282.33 1,531.45 2,711.38 2,711.38 2,711.38
2,604.83 2,638.12 1,290.32 1,541.00 2,728.28 2,728.28 2,728.28
2,621.07 2,654.57 1,298.36 1,550.60 2,745.28 2,745.28 2,745.28
2,637.41 2,671.11 1,306.46 1,560.27 2,762.40 2,762.40 2,762.40
2,653.85 2,687.76 1,314.60 1,569.99 2,779.61 2,779.61 2,779.61
2,670.39 2,704.52 1,322.79 1,579.78 2,796.94 2,796.94 2,796.94
2,687.03 2,721.37 1,331.04 1,589.63 2,814.37 2,814.37 2,814.37
2,703.78 2,738.34 1,339.34 1,599.53 2,831.92 2,831.92 2,831.92
2,720.64 2,755.41 1,347.68 1,609.50 2,849.57 2,849.57 2,849.57
2,737.60 2,772.58 1,356.08 1,619.54 2,867.33 2,867.33 2,867.33
2,754.66 2,789.86 1,364.54 1,629.63 2,885.21 2,885.21 2,885.21
2,771.83 2,807.25 1,373.04 1,639.79 2,903.19 2,903.19 2,903.19
2,789.11 2,824.75 1,381.60 1,650.01 2,921.29 2,921.29 2,921.29
2,806.49 2,842.36 1,390.21 1,660.30 2,939.50 2,939.50 2,939.50
2,823.99 2,860.08 1,398.88 1,670.65 2,957.82 2,957.82 2,957.82
2,841.59 2,877.91 1,407.60 1,681.06 2,976.26 2,976.26 2,976.26
2,859.30 2,895.84 1,416.37 1,691.54 2,994.81 2,994.81 2,994.81
2,877.13 2,913.90 1,425.20 1,702.08 3,013.48 3,013.48 3,013.48
2,895.06 2,932.06 1,434.09 1,712.69 3,032.26 3,032.26 3,032.26
2,913.11 2,950.34 1,443.02 1,723.37 3,051.16 3,051.16 3,051.16
2,931.27 2,968.73 1,452.02 1,734.11 3,070.18 3,070.18 3,070.18
2,949.54 2,987.23 1,461.07 1,744.92 3,089.32 3,089.32 3,089.32
2,967.92 3,005.85 1,470.18 1,755.80 3,108.57 3,108.57 3,108.57
2,986.42 3,024.59 1,479.34 1,766.74 3,127.95 3,127.95 3,127.95
3,005.04 3,043.44 1,488.56 1,777.75 3,147.45 3,147.45 3,147.45
3,023.77 3,062.41 1,497.84 1,788.83 3,167.07 3,167.07 3,167.07
3,042.62 3,081.50 1,507.18 1,799.98 3,186.81 3,186.81 3,186.81
3,061.58 3,100.71 1,516.57 1,811.20 3,206.67 3,206.67 3,206.67
3,080.67 3,120.04 1,526.03 1,822.49 3,226.66 3,226.66 3,226.66
3,099.87 3,139.48 1,535.54 1,833.85 3,246.77 3,246.77 3,246.77
3,119.19 3,159.05 1,545.11 1,845.29 3,267.01 3,267.01 3,267.01
3,138.63 3,178.75 1,554.74 1,856.79 3,287.38 3,287.38 3,287.38
3,158.20 3,198.56 1,564.43 1,868.36 3,307.87 3,307.87 3,307.87
3,177.89 3,218.50 1,574.18 1,880.01 3,328.49 3,328.49 3,328.49
3,197.69 3,238.56 1,584.00 1,891.73 3,349.23 3,349.23 3,349.23
3,217.63 3,258.75 1,593.87 1,903.52 3,370.11 3,370.11 3,370.11
3,237.68 3,279.06 1,603.81 1,915.38 3,391.12 3,391.12 3,391.12
3,257.86 3,299.50 1,613.80 1,927.32 3,412.26 3,412.26 3,412.26
3,278.17 3,320.07 1,623.86 1,939.34 3,433.53 3,433.53 3,433.53
3,298.61 3,340.76 1,633.98 1,951.43 3,454.93 3,454.93 3,454.93
3,319.17 3,361.58 1,644.17 1,963.59 3,476.46 3,476.46 3,476.46
3,339.86 3,382.54 1,654.42 1,975.83 3,498.13 3,498.13 3,498.13
3,360.67 3,403.62 1,664.73 1,988.15 3,519.94 3,519.94 3,519.94
3,381.62 3,424.84 1,675.11 2,000.54 3,541.88 3,541.88 3,541.88
3,402.70 3,446.19 1,685.55 2,013.01 3,563.96 3,563.96 3,563.96
<CAPTION>
41 42 43 44 45 48 49
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS DEPOT KMART KMART
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT UKIAH
OR WA WA WA IL CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27 7,525,857.47
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 6.960% 7.810% 7.710%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 5TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,713.95 2,590.05 3,029.99 1,946.24 22,866.46 5,840.62 17,488.40
2,730.87 2,606.20 3,048.88 1,958.37 22,999.08 5,878.64 17,600.76
2,747.89 2,622.44 3,067.89 1,970.58 23,132.48 5,916.90 17,713.84
2,765.02 2,638.79 3,087.01 1,982.86 23,266.64 5,955.41 17,827.66
2,782.25 2,655.24 3,106.25 1,995.22 23,401.59 5,994.17 17,942.20
2,799.60 2,671.79 3,125.61 2,007.66 23,537.32 6,033.18 18,057.48
2,817.05 2,688.44 3,145.10 2,020.17 23,673.84 6,072.44 18,173.50
2,834.61 2,705.20 3,164.70 2,032.77 23,811.15 6,111.96 18,290.26
2,852.28 2,722.06 3,184.43 2,045.44 23,949.25 6,151.74 18,407.78
2,870.06 2,739.03 3,204.28 2,058.19 24,088.16 6,191.78 18,526.05
2,887.95 2,756.10 3,224.25 2,071.02 24,227.87 6,232.08 18,645.08
2,905.95 2,773.28 3,244.35 2,083.93 24,368.39 6,272.64 18,764.87
2,924.06 2,790.57 3,264.57 2,096.92 24,509.72 6,313.46 18,885.43
2,942.29 2,807.96 3,284.92 2,109.99 24,651.88 6,354.55 19,006.77
2,960.63 2,825.47 3,305.40 2,123.14 24,794.86 6,395.91 19,128.89
2,979.08 2,843.08 3,326.00 2,136.37 24,938.67 6,437.54 19,251.79
2,997.65 2,860.80 3,346.73 2,149.69 25,083.32 6,479.44 19,375.49
3,016.34 2,878.63 3,367.59 2,163.09 25,228.80 6,521.61 19,499.97
3,035.14 2,896.58 3,388.58 2,176.57 25,375.13 6,564.05 19,625.26
3,054.06 2,914.63 3,409.71 2,190.14 25,522.30 6,606.77 19,751.35
3,073.10 2,932.80 3,430.96 2,203.79 25,670.33 6,649.77 19,878.26
3,092.25 2,951.08 3,452.35 2,217.53 25,819.22 6,693.05 20,005.97
3,111.53 2,969.48 3,473.87 2,231.35 25,968.97 6,736.61 20,134.51
3,130.92 2,987.99 3,495.52 2,245.26 26,119.59 6,780.46 20,263.88
3,150.44 3,006.61 3,517.31 2,259.26 26,271.09 6,824.58 20,394.07
3,170.08 3,025.35 3,539.23 2,273.34 26,423.46 6,869.00 20,525.10
3,189.84 3,044.21 3,561.29 2,287.51 26,576.71 6,913.71 20,656.98
3,209.72 3,063.19 3,583.49 2,301.77 26,730.86 6,958.70 20,789.70
3,229.73 3,082.28 3,605.83 2,316.12 26,885.90 7,003.99 20,923.27
3,249.86 3,101.49 3,628.31 2,330.55 27,041.84 7,049.58 21,057.71
3,270.12 3,120.82 3,650.92 2,345.08 27,198.68 7,095.46 21,193.00
3,290.50 3,140.28 3,673.68 2,359.70 27,356.43 7,141.64 21,329.17
3,311.01 3,159.85 3,696.58 2,374.41 27,515.10 7,188.12 21,466.21
3,331.65 3,179.55 3,719.62 2,389.21 27,674.69 7,234.90 21,604.13
3,352.42 3,199.37 3,742.81 2,404.10 27,835.20 7,281.99 21,742.93
3,373.31 3,219.31 3,766.14 2,419.09 27,996.64 7,329.38 21,882.63
3,394.34 3,239.38 3,789.61 2,434.16 28,159.02 7,377.08 22,023.23
3,415.50 3,259.57 3,813.24 2,449.34 28,322.35 7,425.10 22,164.73
3,436.79 3,279.89 3,837.00 2,464.61 28,486.62 7,473.42 22,307.13
3,458.21 3,300.33 3,860.92 2,479.97 28,651.84 7,522.06 22,450.46
3,479.77 3,320.90 3,884.99 2,495.43 28,818.02 7,571.02 22,594.70
3,501.46 3,341.60 3,909.20 2,510.98 28,985.16 7,620.29 22,739.87
3,523.28 3,362.43 3,933.57 2,526.63 29,153.28 7,669.89 22,885.98
3,545.24 3,383.39 3,958.09 2,542.38 29,322.37 7,719.81 23,033.02
3,567.34 3,404.48 3,982.76 2,558.23 29,492.44 7,770.05 23,181.01
3,589.58 3,425.70 4,007.59 2,574.18 29,663.49 7,820.62 23,329.94
3,611.95 3,447.06 4,032.57 2,590.22 29,835.54 7,871.52 23,479.84
<CAPTION>
50 51 52
-- -- --
TIMES
KMART KMART MIRROR
- -------------------------------------------------------
WOODCREST STERLING HEIGHTS LAGUNA HILLS
CA MI CA
- -------------------------------------------------------
3,046,791.84 6,816,611.39 3,578,054.58
- -------------------------------------------------------
7.800% 7.790% 6.630%
- -------------------------------------------------------
5TH 5TH 1ST
- -------------------------------------------------------
<S> <C> <C>
3,710.28 8,707.56 8,376.27
3,734.40 8,764.09 8,422.55
3,758.67 8,820.98 8,469.08
3,783.10 8,878.24 8,515.87
3,807.70 8,935.88 8,562.92
3,832.45 8,993.89 8,610.23
3,857.36 9,052.27 8,657.81
3,882.43 9,111.04 8,705.64
3,907.66 9,170.18 10,915.35
3,933.06 9,229.71 10,975.66
3,958.63 9,289.63 11,036.30
3,984.36 9,349.93 11,097.27
4,010.26 9,410.63 11,158.58
4,036.33 9,471.72 11,220.24
4,062.56 9,533.21 11,282.23
4,088.97 9,595.10 11,344.56
4,115.55 9,657.38 11,407.24
4,142.30 9,720.08 11,470.27
4,169.22 9,783.18 11,533.64
4,196.32 9,846.68 11,597.36
4,223.60 9,910.61 11,661.44
4,251.05 9,974.94 11,725.87
4,278.68 10,039.70 11,790.65
4,306.50 10,104.87 11,855.80
4,334.49 10,170.47 11,921.30
4,362.66 10,236.49 11,987.16
4,391.02 10,302.94 12,053.39
4,419.56 10,369.83 12,119.99
4,448.29 10,437.14 12,186.95
4,477.20 10,504.90 12,254.28
4,506.30 10,573.09 12,321.99
4,535.59 10,641.73 12,390.07
4,565.08 10,710.81 12,458.52
4,594.75 10,780.34 12,527.36
4,624.61 10,850.33 12,596.57
4,654.67 10,920.76 12,666.17
4,684.93 10,991.66 12,736.15
4,715.38 11,063.01 12,806.51
4,746.03 11,134.83 15,204.94
4,776.88 11,207.11 15,288.95
4,807.93 11,279.86 15,373.42
4,839.18 11,353.09 15,458.36
4,870.64 11,426.79 15,543.76
4,902.30 11,500.97 15,629.64
4,934.16 11,575.63 15,716.00
4,966.23 11,650.77 15,802.83
4,998.51 11,726.41 15,890.14
</TABLE>
Page 13
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
34 35 36 37 38 39 40
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE HILLSBORO
IL IL LA MT OR OR OR
- -----------------------------------------------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24 1,691,867.24
- -----------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,423.91 3,467.67 1,696.05 2,025.56 3,586.17 3,586.17 3,586.17
3,445.25 3,489.28 1,706.63 2,038.18 3,608.53 3,608.53 3,608.53
3,466.73 3,511.03 1,717.26 2,050.89 3,631.02 3,631.02 3,631.02
3,488.34 3,532.92 1,727.97 2,063.67 3,653.65 3,653.65 3,653.65
3,510.08 3,554.94 1,738.74 2,076.53 3,676.43 3,676.43 3,676.43
3,531.96 3,577.10 1,749.58 2,089.48 3,699.34 3,699.34 3,699.34
3,553.98 3,599.40 1,760.48 2,102.50 3,722.40 3,722.40 3,722.40
3,576.13 3,621.83 1,771.46 2,115.61 3,745.61 3,745.61 3,745.61
3,598.42 3,644.41 1,782.50 2,128.79 3,768.95 3,768.95 3,768.95
3,620.85 3,667.13 1,793.61 2,142.06 3,792.45 3,792.45 3,792.45
3,643.42 3,689.98 1,804.79 2,155.42 3,816.09 3,816.09 3,816.09
3,666.13 3,712.99 1,816.04 2,168.85 3,839.87 3,839.87 3,839.87
3,688.99 3,736.13 1,827.36 2,182.37 3,863.81 3,863.81 3,863.81
3,711.98 3,759.42 1,838.75 2,195.97 3,887.89 3,887.89 3,887.89
3,735.12 3,782.85 1,850.21 2,209.66 3,912.13 3,912.13 3,912.13
3,758.40 3,806.43 1,861.75 2,223.44 3,936.51 3,936.51 3,936.51
3,781.83 3,830.16 1,873.35 2,237.30 3,961.05 3,961.05 3,961.05
3,805.40 3,854.03 1,885.03 2,251.24 3,985.74 3,985.74 3,985.74
3,829.12 3,878.06 1,896.78 2,265.27 4,010.59 4,010.59 4,010.59
3,852.99 3,902.23 1,908.60 2,279.39 4,035.59 4,035.59 4,035.59
3,877.01 3,926.55 1,920.50 2,293.60 4,060.74 4,060.74 4,060.74
3,901.17 3,951.03 1,932.47 2,307.90 4,086.05 4,086.05 4,086.05
3,925.49 3,975.66 1,944.51 2,322.29 4,111.52 4,111.52 4,111.52
3,949.96 4,000.44 1,956.64 2,336.76 4,137.15 4,137.15 4,137.15
3,974.58 4,025.38 1,968.83 2,351.33 4,162.94 4,162.94 4,162.94
3,999.36 4,050.47 1,981.10 2,365.98 4,188.89 4,188.89 4,188.89
4,024.29 4,075.71 1,993.45 2,380.73 4,215.00 4,215.00 4,215.00
4,049.37 4,101.12 2,005.88 2,395.57 4,241.27 4,241.27 4,241.27
4,074.61 4,126.68 2,018.38 2,410.50 4,267.71 4,267.71 4,267.71
4,100.01 4,152.41 2,030.96 2,425.53 4,294.31 4,294.31 4,294.31
4,125.57 4,178.29 2,043.62 2,440.65 4,321.08 4,321.08 4,321.08
4,151.28 4,204.33 2,056.36 2,455.86 4,348.01 4,348.01 4,348.01
4,177.16 4,230.54 2,069.18 2,471.17 4,375.12 4,375.12 4,375.12
4,203.20 4,256.91 2,082.08 2,486.57 4,402.39 4,402.39 4,402.39
4,229.40 4,283.45 2,095.06 2,502.07 4,429.83 4,429.83 4,429.83
4,255.76 4,310.15 2,108.12 2,517.67 4,457.44 4,457.44 4,457.44
4,282.29 4,337.01 2,121.26 2,533.36 4,485.23 4,485.23 4,485.23
4,308.98 4,364.05 2,134.48 2,549.15 4,513.19 4,513.19 4,513.19
4,335.84 4,391.25 2,147.78 2,565.04 4,541.32 4,541.32 4,541.32
4,362.87 4,418.62 2,161.17 2,581.03 4,569.62 4,569.62 4,569.62
4,390.06 4,446.17 2,174.64 2,597.12 4,598.11 4,598.11 4,598.11
4,417.43 4,473.88 2,188.20 2,613.31 4,626.77 4,626.77 4,626.77
4,444.96 4,501.77 2,201.84 2,629.60 4,655.61 4,655.61 4,655.61
4,472.67 4,529.83 2,215.56 2,645.99 4,684.63 4,684.63 4,684.63
4,500.55 4,558.06 2,229.37 2,662.48 4,713.83 4,713.83 4,713.83
4,528.60 4,586.48 2,243.27 2,679.08 4,743.21 4,743.21 4,743.21
4,556.83 4,615.06 2,257.25 2,695.78 4,772.78 4,772.78 4,772.78
4,585.23 4,643.83 2,271.32 2,712.58 4,802.53 4,802.53 4,802.53
4,613.82 4,672.78 2,285.48 2,729.49 4,832.47 4,832.47 4,832.47
4,642.57 4,701.91 2,299.73 2,746.51 4,862.59 4,862.59 4,862.59
4,671.51 4,731.21 2,314.06 2,763.63 4,892.90 4,892.90 4,892.90
4,700.63 4,760.71 2,328.49 2,780.85 4,923.40 4,923.40 4,923.40
4,729.93 4,790.38 2,343.00 2,798.19 4,954.09 4,954.09 4,954.09
4,759.42 4,820.24 2,357.60 2,815.63 4,984.97 4,984.97 4,984.97
4,789.08 4,850.29 2,372.30 2,833.18 5,016.04 5,016.04 5,016.04
4,818.94 4,880.52 2,387.09 2,850.84 5,047.31 5,047.31 5,047.31
4,848.97 4,910.94 2,401.97 2,868.61 5,078.77 5,078.77 5,078.77
4,879.20 4,941.55 2,416.94 2,886.49 5,110.43 5,110.43 5,110.43
4,909.61 4,972.36 2,432.01 2,904.48 5,142.28 5,142.28 5,142.28
4,940.22 5,003.35 2,447.16 2,922.59 5,174.33 5,174.33 5,174.33
4,971.01 5,034.54 2,462.42 2,940.80 5,206.59 5,206.59 5,206.59
5,002.00 5,065.92 2,477.77 2,959.14 5,239.04 5,239.04 5,239.04
5,033.17 5,097.50 2,493.21 2,977.58 5,271.70 5,271.70 5,271.70
<CAPTION>
41 42 43 44 45 48 49
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS DEPOT KMART KMART
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT UKIAH
OR WA WA WA IL CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27 7,525,857.47
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 6.960% 7.810% 7.710%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 5TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,634.47 3,468.54 4,057.71 2,606.37 30,008.59 7,922.75 23,630.70
3,657.12 3,490.17 4,083.00 2,622.61 30,182.64 7,974.31 23,782.52
3,679.92 3,511.92 4,108.45 2,638.96 30,357.70 8,026.21 23,935.33
3,702.86 3,533.81 4,134.06 2,655.41 30,533.77 8,078.45 24,089.11
3,725.94 3,555.84 4,159.83 2,671.96 30,710.87 8,131.03 24,243.88
3,749.16 3,578.00 4,185.76 2,688.62 30,888.99 8,183.95 24,399.65
3,772.53 3,600.31 4,211.85 2,705.38 31,068.14 8,237.21 24,556.42
3,796.05 3,622.75 4,238.10 2,722.24 31,248.34 8,290.82 24,714.19
3,819.71 3,645.33 4,264.52 2,739.21 31,429.58 8,344.78 24,872.98
3,843.52 3,668.05 4,291.10 2,756.28 31,611.87 8,399.09 25,032.79
3,867.48 3,690.92 4,317.85 2,773.47 31,795.22 8,453.75 25,193.63
3,891.59 3,713.92 4,344.77 2,790.75 31,979.63 8,508.77 25,355.50
3,915.84 3,737.07 4,371.85 2,808.15 32,165.11 8,564.15 25,518.41
3,940.25 3,760.37 4,399.10 2,825.65 32,351.67 8,619.89 25,682.36
3,964.81 3,783.81 4,426.52 2,843.27 32,539.31 8,675.99 25,847.37
3,989.53 3,807.39 4,454.11 2,860.99 32,728.04 8,732.46 26,013.44
4,014.40 3,831.13 4,481.88 2,878.82 32,917.86 8,789.29 26,180.58
4,039.42 3,855.01 4,509.81 2,896.77 33,108.79 8,846.49 26,348.79
4,064.60 3,879.04 4,537.92 2,914.82 33,300.82 8,904.07 26,518.08
4,089.93 3,903.22 4,566.21 2,932.99 33,493.96 8,962.02 26,688.46
4,115.43 3,927.55 4,594.67 2,951.28 33,688.23 9,020.35 26,859.93
4,141.08 3,952.03 4,623.31 2,969.67 33,883.62 9,079.06 27,032.50
4,166.89 3,976.66 4,652.13 2,988.18 34,080.14 9,138.15 27,206.19
4,192.87 4,001.45 4,681.13 3,006.81 34,277.81 9,197.62 27,380.99
4,219.00 4,026.39 4,710.31 3,025.55 34,476.62 9,257.48 27,556.91
4,245.30 4,051.49 4,739.67 3,044.41 34,676.58 9,317.73 27,733.96
4,271.76 4,076.74 4,769.21 3,063.39 34,877.71 9,378.37 27,912.15
4,298.39 4,102.16 4,798.94 3,082.48 35,080.00 9,439.41 28,091.49
4,325.18 4,127.73 4,828.86 3,101.70 35,283.46 9,500.85 28,271.98
4,352.14 4,153.46 4,858.96 3,121.03 35,488.11 9,562.68 28,453.63
4,379.27 4,179.35 4,889.24 3,140.48 35,693.94 9,624.92 28,636.44
4,406.57 4,205.40 4,919.72 3,160.06 35,900.96 9,687.56 28,820.43
4,434.04 4,231.61 4,950.39 3,179.76 36,109.19 9,750.61 29,005.60
4,461.68 4,257.99 4,981.24 3,199.58 36,318.62 9,814.07 29,191.96
4,489.49 4,284.53 5,012.29 3,219.52 36,529.27 9,877.94 29,379.52
4,517.47 4,311.24 5,043.54 3,239.59 36,741.14 9,942.23 29,568.28
4,545.63 4,338.11 5,074.97 3,259.78 36,954.24 10,006.94 29,758.26
4,573.97 4,365.15 5,106.61 3,280.10 37,168.57 10,072.07 29,949.46
4,602.48 4,392.36 5,138.44 3,300.55 37,384.15 10,137.62 30,141.88
4,631.17 4,419.74 5,170.47 3,321.12 37,600.98 10,203.60 30,335.54
4,660.03 4,447.29 5,202.70 3,341.82 37,819.06 10,270.01 30,530.45
4,689.08 4,475.01 5,235.13 3,362.66 38,038.42 10,336.85 30,726.61
4,718.31 4,502.90 5,267.76 3,383.62 38,259.04 10,404.13 30,924.03
4,747.72 4,530.97 5,300.60 3,404.71 38,480.94 10,471.84 31,122.71
4,777.31 4,559.21 5,333.64 3,425.93 38,704.13 10,539.99 31,322.68
4,807.09 4,587.63 5,366.88 3,447.29 38,928.61 10,608.59 31,523.92
4,837.06 4,616.23 5,400.34 3,468.77 39,154.40 10,677.64 31,726.47
4,867.21 4,645.00 5,434.00 3,490.40 39,381.50 10,747.13 31,930.31
4,897.55 4,673.96 5,467.87 3,512.15 39,609.91 10,817.07 32,135.46
4,928.07 4,703.09 5,501.95 3,534.04 39,839.65 10,887.48 32,341.93
4,958.79 4,732.41 5,536.25 3,556.07 40,070.72 10,958.34 32,549.73
4,989.70 4,761.91 5,570.76 3,578.24 40,303.13 11,029.66 32,758.86
5,020.81 4,791.59 5,605.48 3,600.54 40,536.88 11,101.44 32,969.33
5,052.10 4,821.46 5,640.42 3,622.99 40,772.00 11,173.69 33,181.16
5,083.59 4,851.51 5,675.58 3,645.57 41,008.48 11,246.41 33,394.35
5,115.28 4,881.75 5,710.96 3,668.29 41,246.32 11,319.61 33,608.91
5,147.17 4,912.18 5,746.56 3,691.16 41,485.55 11,393.28 33,824.85
5,179.25 4,942.80 5,782.38 3,714.17 41,726.17 11,467.43 34,042.17
5,211.53 4,973.61 5,818.42 3,737.32 41,968.18 11,542.07 34,260.89
5,244.02 5,004.61 5,854.69 3,760.62 42,211.60 11,617.19 34,481.02
5,276.71 5,035.81 5,891.18 3,784.06 42,456.42 11,692.80 34,702.56
5,309.60 5,067.20 5,927.91 3,807.64 42,702.67 11,768.90 34,925.52
5,342.70 5,098.78 5,964.86 3,831.38 42,950.35 11,845.49 35,149.92
<CAPTION>
50 51 52
-- -- --
TIMES
KMART KMART MIRROR
- -------------------------------------------------------
WOODCREST STERLING HEIGHTS LAGUNA HILLS
CA MI CA
- -------------------------------------------------------
3,046,791.84 6,816,611.39 3,578,054.58
- -------------------------------------------------------
7.800% 7.790% 6.630%
- -------------------------------------------------------
5TH 5TH 1ST
- -------------------------------------------------------
<S> <C> <C>
5,031.00 11,802.53 15,977.93
5,063.71 11,879.15 16,066.21
5,096.62 11,956.26 16,154.98
5,129.75 12,033.88 16,244.23
5,163.09 12,112.00 16,333.98
5,196.65 12,190.63 16,424.23
5,230.43 12,269.77 16,514.97
5,264.43 12,349.42 16,606.22
5,298.65 12,429.58 16,697.96
5,333.09 12,510.27 16,790.22
5,367.75 12,591.49 16,882.99
5,402.64 12,673.23 16,976.27
5,437.76 12,755.50 17,070.06
5,473.11 12,838.30 17,164.37
5,508.68 12,921.64 17,259.20
5,544.49 13,005.53 17,354.56
5,580.53 13,089.95 17,450.45
5,616.80 13,174.93 17,546.86
5,653.31 13,260.46 17,643.81
5,690.06 13,346.54 17,741.29
5,727.04 13,433.18 17,839.31
5,764.27 13,520.38 20,444.33
5,801.73 13,608.15 20,557.29
5,839.45 13,696.49 20,670.86
5,877.40 13,785.41 20,785.07
5,915.60 13,874.90 20,899.91
5,954.06 13,964.97 21,015.38
5,992.76 14,055.62 21,131.49
6,031.71 14,146.87 21,248.24
6,070.92 14,238.70 21,365.64
6,110.38 14,331.14 21,483.68
6,150.09 14,424.17 21,602.38
6,190.07 14,517.81 21,721.73
6,230.31 14,612.05 21,841.75
6,270.80 14,706.91 21,962.42
6,311.56 14,802.38 22,083.76
6,352.59 14,898.47 22,205.78
6,393.88 14,995.19 22,328.46
6,435.44 15,092.53 22,451.83
6,477.27 15,190.51 22,575.88
6,519.37 15,289.12 22,700.61
6,561.75 15,388.37 22,826.03
6,604.40 15,488.27 22,952.14
6,647.33 15,588.81 23,078.95
6,690.54 15,690.01 23,206.46
6,734.03 15,791.86 23,334.68
6,777.80 15,894.38 23,463.60
6,821.85 15,997.56 23,593.24
6,866.19 16,101.41 23,723.59
6,910.82 16,205.94 23,854.67
6,955.74 16,311.14 23,986.46
7,000.96 16,417.03 26,817.97
7,046.46 16,523.60 26,966.14
7,092.27 16,630.87 27,115.12
7,138.36 16,738.83 27,264.94
7,184.76 16,847.49 27,415.57
7,231.47 16,956.86 27,567.05
7,278.47 17,066.94 27,719.35
7,325.78 17,177.73 27,872.50
7,373.40 17,289.24 28,026.50
7,421.32 17,401.48 28,181.35
7,469.56 17,514.44 28,337.05
7,518.12 17,628.14 28,493.61
</TABLE>
Page 14
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
34 35 36 37 38 39 40
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE HILLSBORO
IL IL LA MT OR OR OR
- -----------------------------------------------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24 1,691,867.24
- -----------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,064.55 5,129.27 2,508.75 2,996.14 5,304.56 5,304.56 5,304.56
5,096.12 5,161.24 2,524.39 3,014.82 5,337.62 5,337.62 5,337.62
5,127.88 5,193.42 2,540.13 3,033.61 5,370.90 5,370.90 5,370.90
5,159.85 5,225.79 2,555.96 3,052.52 5,404.37 5,404.37 5,404.37
5,192.01 5,258.36 2,571.89 3,071.55 5,438.06 5,438.06 5,438.06
5,224.37 5,291.14 2,587.92 3,090.69 5,471.96 5,471.96 5,471.96
5,256.94 5,324.12 2,604.06 3,109.96 5,506.07 5,506.07 5,506.07
5,289.71 5,357.31 2,620.29 3,129.34 5,540.39 5,540.39 5,540.39
5,322.68 5,390.70 2,636.62 3,148.85 5,574.92 5,574.92 5,574.92
5,355.86 5,424.30 2,653.06 3,168.48 5,609.67 5,609.67 5,609.67
5,389.24 5,458.12 2,669.59 3,188.23 5,644.64 5,644.64 5,644.64
5,422.84 5,492.14 2,686.23 3,208.10 5,679.83 5,679.83 5,679.83
5,456.64 5,526.37 2,702.98 3,228.10 5,715.23 5,715.23 5,715.23
5,490.65 5,560.82 2,719.83 3,248.22 5,750.86 5,750.86 5,750.86
5,524.88 5,595.48 2,736.78 3,268.47 5,786.70 5,786.70 5,786.70
5,559.31 5,630.36 2,753.84 3,288.84 5,822.77 5,822.77 5,822.77
5,593.97 5,665.46 2,771.00 3,309.34 5,859.07 5,859.07 5,859.07
5,628.84 5,700.77 2,788.28 3,329.97 5,895.59 5,895.59 5,895.59
5,663.92 5,736.31 2,805.66 3,350.73 5,932.34 5,932.34 5,932.34
5,699.23 5,772.06 2,823.15 3,371.61 5,969.32 5,969.32 5,969.32
5,734.75 5,808.04 2,840.74 3,392.63 6,006.53 6,006.53 6,006.53
5,770.50 5,844.24 2,858.45 3,413.78 6,043.97 6,043.97 6,043.97
5,806.47 5,880.67 2,876.27 3,435.05 6,081.64 6,081.64 6,081.64
5,842.66 5,917.33 2,894.20 3,456.47 6,119.55 6,119.55 6,119.55
5,879.08 5,954.21 2,912.24 3,478.01 6,157.69 6,157.69 6,157.69
5,915.73 5,991.33 2,930.39 3,499.69 6,196.08 6,196.08 6,196.08
5,952.60 6,028.68 2,948.66 3,521.51 6,234.70 6,234.70 6,234.70
5,989.71 6,066.25 2,967.04 3,543.46 6,273.56 6,273.56 6,273.56
6,027.04 6,104.07 2,985.53 3,565.54 6,312.67 6,312.67 6,312.67
6,064.61 6,142.12 3,004.14 3,587.77 6,352.02 6,352.02 6,352.02
6,102.41 6,180.40 3,022.87 3,610.13 6,391.61 6,391.61 6,391.61
6,140.45 6,218.93 3,041.71 3,632.64 6,431.45 6,431.45 6,431.45
6,178.73 6,257.69 3,060.67 3,655.28 6,471.54 6,471.54 6,471.54
6,217.24 6,296.70 3,079.75 3,678.06 6,511.88 6,511.88 6,511.88
6,256.00 6,335.95 3,098.94 3,700.99 6,552.47 6,552.47 6,552.47
6,294.99 6,375.44 3,118.26 3,724.06 6,593.32 6,593.32 6,593.32
6,334.23 6,415.18 3,137.70 3,747.27 6,634.41 6,634.41 6,634.41
6,373.71 6,455.17 3,157.26 3,770.63 6,675.77 6,675.77 6,675.77
6,413.44 6,495.41 3,176.94 3,794.14 6,717.38 6,717.38 6,717.38
6,453.42 6,535.89 3,196.74 3,817.79 6,759.25 6,759.25 6,759.25
6,493.65 6,576.63 3,216.67 3,841.58 6,801.38 6,801.38 6,801.38
6,534.12 6,617.63 3,236.72 3,865.53 6,843.78 6,843.78 6,843.78
6,574.85 6,658.88 3,256.89 3,889.62 6,886.44 6,886.44 6,886.44
6,615.84 6,700.39 3,277.19 3,913.87 6,929.37 6,929.37 6,929.37
6,657.08 6,742.15 3,297.62 3,938.27 6,972.56 6,972.56 6,972.56
6,698.57 6,784.18 3,318.18 3,962.81 7,016.02 7,016.02 7,016.02
6,740.33 6,826.47 3,338.86 3,987.52 7,059.75 7,059.75 7,059.75
6,782.34 6,869.02 3,359.67 4,012.37 7,103.76 7,103.76 7,103.76
6,824.62 6,911.83 3,380.61 4,037.38 7,148.04 7,148.04 7,148.04
6,867.16 6,954.92 3,401.69 4,062.55 7,192.60 7,192.60 7,192.60
6,909.96 6,998.27 3,422.89 4,087.87 7,237.43 7,237.43 7,237.43
6,953.04 7,041.89 3,444.23 4,113.35 7,282.54 7,282.54 7,282.54
6,996.38 7,085.79 3,465.70 4,138.99 7,327.94 7,327.94 7,327.94
7,039.99 7,129.95 3,487.30 4,164.79 7,373.61 7,373.61 7,373.61
7,083.87 7,174.40 3,509.04 4,190.75 7,419.58 7,419.58 7,419.58
7,128.03 7,219.12 3,530.91 4,216.88 7,465.83 7,465.83 7,465.83
7,172.46 7,264.12 3,552.92 4,243.16 7,512.36 7,512.36 7,512.36
7,217.16 7,309.40 3,575.06 4,269.61 7,559.19 7,559.19 7,559.19
7,262.15 7,354.96 3,597.35 4,296.22 7,606.31 7,606.31 7,606.31
7,307.42 7,400.81 3,619.77 4,323.00 7,653.72 7,653.72 7,653.72
7,352.97 7,446.94 3,642.34 4,349.95 7,701.43 7,701.43 7,701.43
7,398.80 7,493.36 3,665.04 4,377.06 7,749.43 7,749.43 7,749.43
7,444.92 7,540.06 3,687.89 4,404.35 7,797.74 7,797.74 7,797.74
<CAPTION>
41 42 43 44 45 48 49
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS DEPOT KMART KMART
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT UKIAH
OR WA WA WA IL CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27 7,525,857.47
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 6.960% 7.810% 7.710%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 5TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,376.00 5,130.57 6,002.04 3,855.26 43,199.46 11,922.59 35,375.76
5,409.51 5,162.55 6,039.45 3,879.29 43,450.02 12,000.18 35,603.05
5,443.23 5,194.73 6,077.10 3,903.47 43,702.03 12,078.28 35,831.80
5,477.16 5,227.11 6,114.98 3,927.80 43,955.50 12,156.89 36,062.02
5,511.30 5,259.69 6,153.09 3,952.29 44,210.44 12,236.01 36,293.72
5,545.65 5,292.48 6,191.45 3,976.92 44,466.86 12,315.65 36,526.90
5,580.22 5,325.47 6,230.04 4,001.71 44,724.77 12,395.80 36,761.59
5,615.00 5,358.66 6,268.88 4,026.66 44,984.17 12,476.48 36,997.78
5,650.00 5,392.06 6,307.95 4,051.76 45,245.08 12,557.68 37,235.49
5,685.22 5,425.67 6,347.27 4,077.01 45,507.50 12,639.41 37,474.73
5,720.66 5,459.49 6,386.84 4,102.43 45,771.44 12,721.67 37,715.50
5,756.32 5,493.52 6,426.65 4,128.00 46,036.92 12,804.47 37,957.83
5,792.20 5,527.77 6,466.71 4,153.73 46,303.93 12,887.81 38,201.71
5,828.30 5,562.22 6,507.02 4,179.62 46,572.50 12,971.68 38,447.15
5,864.63 5,596.90 6,547.58 4,205.67 46,842.62 13,056.11 38,694.18
5,901.19 5,631.78 6,588.39 4,231.89 47,114.30 13,141.08 38,942.79
5,937.97 5,666.89 6,629.46 4,258.27 47,387.57 13,226.61 39,192.99
5,974.99 5,702.21 6,670.78 4,284.81 47,662.41 13,312.69 39,444.81
6,012.23 5,737.75 6,712.36 4,311.52 47,938.86 13,399.33 39,698.24
6,049.71 5,773.52 6,754.20 4,338.40 48,216.90 13,486.54 39,953.30
6,087.42 5,809.51 6,796.30 4,365.44 48,496.56 13,574.32 40,210.00
6,125.36 5,845.72 6,838.67 4,392.65 48,777.84 13,662.66 40,468.35
6,163.54 5,882.16 6,881.29 4,420.03 49,060.75 13,751.58 40,728.36
6,201.96 5,918.82 6,924.19 4,447.58 49,345.30 13,841.08 40,990.04
6,240.62 5,955.72 6,967.35 4,475.30 49,631.51 13,931.17 41,253.40
6,279.52 5,992.84 7,010.78 4,503.20 49,919.37 14,021.83 41,518.45
6,318.66 6,030.20 7,054.48 4,531.27 50,208.90 14,113.09 41,785.21
6,358.05 6,067.79 7,098.45 4,559.52 50,500.11 14,204.95 42,053.68
6,397.68 6,105.61 7,142.70 4,587.94 50,793.01 14,297.40 42,323.87
6,437.56 6,143.67 7,187.22 4,616.53 51,087.61 14,390.45 42,595.81
6,477.69 6,181.96 7,232.02 4,645.31 51,383.92 14,484.11 42,869.48
6,518.07 6,220.50 7,277.10 4,674.27 51,681.95 14,578.37 43,144.92
6,558.70 6,259.27 7,322.46 4,703.40 51,981.70 14,673.25 43,422.13
6,599.58 6,298.29 7,368.11 4,732.72 52,283.20 14,768.75 43,701.11
6,640.72 6,337.55 7,414.03 4,762.22 52,586.44 14,864.87 43,981.89
6,682.11 6,377.05 7,460.25 4,791.91 52,891.44 14,961.62 44,264.48
6,723.76 6,416.80 7,506.75 4,821.78 53,198.21 15,058.99 44,548.88
6,765.67 6,456.80 7,553.54 4,851.83 53,506.76 15,157.00 44,835.10
6,807.85 6,497.05 7,600.63 4,882.07 53,817.10 15,255.65 45,123.17
6,850.28 6,537.54 7,648.00 4,912.51 54,129.24 15,354.94 45,413.08
6,892.98 6,578.30 7,695.68 4,943.13 54,443.19 15,454.87 45,704.86
6,935.95 6,619.30 7,743.65 4,973.94 54,758.96 15,555.46 45,998.52
6,979.18 6,660.56 7,791.91 5,004.94 55,076.56 15,656.70 46,294.06
7,022.69 6,702.08 7,840.48 5,036.14 55,396.01 15,758.60 46,591.50
7,066.46 6,743.85 7,889.36 5,067.53 55,717.30 15,861.16 46,890.85
7,110.51 6,785.89 7,938.53 5,099.12 56,040.46 15,964.39 47,192.12
7,154.83 6,828.19 7,988.02 5,130.91 56,365.50 16,068.29 47,495.33
7,199.43 6,870.75 8,037.81 5,162.89 56,692.42 16,172.87 47,800.49
7,244.30 6,913.58 8,087.91 5,195.07 57,021.23 16,278.13 48,107.61
7,289.46 6,956.67 8,138.33 5,227.45 57,351.96 16,384.07 48,416.70
7,334.90 7,000.04 8,189.05 5,260.04 57,684.60 16,490.70 48,727.77
7,380.62 7,043.67 8,240.10 5,292.82 58,019.17 16,598.03 49,040.85
7,426.62 7,087.58 8,291.46 5,325.82 58,355.68 16,706.06 49,355.94
7,472.92 7,131.76 8,343.15 5,359.01 58,694.14 16,814.79 49,673.05
7,519.50 7,176.21 8,395.15 5,392.42 59,034.57 16,924.22 49,992.20
7,566.37 7,220.94 8,447.48 5,426.03 59,376.97 17,034.37 50,313.40
7,613.53 7,265.95 8,500.14 5,459.85 59,721.36 17,145.24 50,636.66
7,660.99 7,311.24 8,553.12 5,493.89 60,067.74 17,256.82 50,962.00
7,708.75 7,356.82 8,606.44 5,528.13 60,416.13 17,369.14 51,289.43
7,756.80 7,402.67 8,660.08 5,562.59 60,766.55 17,482.18 51,618.97
7,805.15 7,448.82 8,714.06 5,597.26 61,118.99 17,595.96 51,950.62
7,853.80 7,495.25 8,768.38 5,632.15 61,473.48 17,710.48 52,284.40
7,902.75 7,541.97 8,823.04 5,667.26 61,830.03 17,825.75 52,620.33
<CAPTION>
50 51 52
-- -- --
TIMES
KMART KMART MIRROR
- -------------------------------------------------------
WOODCREST STERLING HEIGHTS LAGUNA HILLS
CA MI CA
- -------------------------------------------------------
3,046,791.84 6,816,611.39 3,578,054.58
- -------------------------------------------------------
7.800% 7.790% 6.630%
- -------------------------------------------------------
5TH 5TH 1ST
- -------------------------------------------------------
<S> <C> <C>
7,566.98 17,742.58 28,651.04
7,616.17 17,857.76 28,809.33
7,665.67 17,973.68 28,968.50
7,715.50 18,090.36 29,128.56
7,765.65 18,207.80 29,289.49
7,816.13 18,326.00 29,451.32
7,866.93 18,444.96 29,614.03
7,918.07 18,564.70 29,777.65
7,969.54 18,685.22 29,942.17
8,021.34 18,806.52 30,107.60
8,073.48 18,928.60 30,273.95
8,125.95 19,051.48 30,441.21
8,178.77 19,175.16 30,609.40
8,231.93 19,299.63 30,778.52
8,285.44 19,424.92 30,948.57
8,339.30 19,551.02 31,119.56
8,393.50 19,677.94 31,291.49
8,448.06 19,805.68 31,464.38
8,502.97 19,934.26 34,544.53
8,558.24 20,063.66 34,735.39
8,613.87 20,193.91 34,927.30
8,669.86 20,325.00 35,120.28
8,726.21 20,456.94 35,314.31
8,782.94 20,589.74 35,509.43
8,840.02 20,723.40 35,705.62
8,897.48 20,857.93 35,902.89
8,955.32 20,993.34 36,101.25
9,013.53 21,129.62 36,300.71
9,072.12 21,266.79 36,501.27
9,131.08 21,404.84 36,702.94
9,190.44 21,543.80 36,905.73
9,250.17 21,683.65 37,109.63
9,310.30 21,824.41 37,314.66
9,370.82 21,966.09 37,520.83
9,431.73 22,108.69 37,728.13
9,493.03 22,252.21 37,936.58
9,554.74 22,396.66 38,146.18
9,616.84 22,542.05 38,356.93
9,679.35 22,688.39 38,568.86
9,742.27 22,835.68 38,781.95
9,805.59 22,983.92 38,996.22
9,869.33 23,133.12 39,211.67
9,933.48 23,283.29 39,428.32
9,998.05 23,434.44 39,646.16
10,063.04 23,586.57 39,865.20
10,128.45 23,739.69 40,085.46
10,194.28 23,893.80 40,306.93
10,260.54 24,048.91 39,171.65
10,327.24 24,205.02 0.00
10,394.36 24,362.15 0.00
10,461.93 24,520.31 0.00
10,529.93 24,679.48 0.00
10,598.37 24,839.69 0.00
10,667.26 25,000.95 0.00
10,736.60 25,163.24 0.00
10,806.39 25,326.59 0.00
10,876.63 25,491.01 0.00
10,947.33 25,656.49 0.00
11,018.49 25,823.04 0.00
11,090.11 25,990.67 0.00
11,162.19 26,159.40 0.00
11,234.75 26,329.21 0.00
11,307.77 26,500.13 0.00
</TABLE>
Page 15
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
34 35 36 37 38 39 40
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE HILLSBORO
IL IL LA MT OR OR OR
- -----------------------------------------------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24 1,691,867.24
- -----------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,491.33 7,587.06 3,710.87 4,431.80 7,846.35 7,846.35 7,846.35
7,538.02 7,634.36 3,734.00 4,459.43 7,895.25 7,895.25 7,895.25
7,585.01 7,681.94 3,757.28 4,487.22 7,944.47 7,944.47 7,944.47
7,632.29 7,729.83 3,780.70 4,515.19 7,993.99 7,993.99 7,993.99
7,679.87 7,778.01 3,804.27 4,543.34 8,043.82 8,043.82 8,043.82
7,727.74 7,826.49 3,827.98 4,571.66 8,093.96 8,093.96 8,093.96
7,775.91 7,875.28 3,851.84 4,600.16 8,144.41 8,144.41 8,144.41
7,824.38 7,924.37 3,875.85 4,628.83 8,195.18 8,195.18 8,195.18
7,873.15 7,973.76 3,900.01 4,657.68 8,246.26 8,246.26 8,246.26
7,922.22 8,023.47 3,924.32 4,686.72 8,297.66 8,297.66 8,297.66
7,971.61 8,073.48 3,948.78 4,715.93 8,349.38 8,349.38 8,349.38
8,021.30 8,123.80 3,973.40 4,745.33 8,401.43 8,401.43 8,401.43
8,071.29 8,174.44 3,998.16 4,774.91 8,453.80 8,453.80 8,453.80
8,121.61 8,225.40 4,023.08 4,804.67 8,506.49 8,506.49 8,506.49
8,172.23 8,276.67 4,048.16 4,834.62 8,559.52 8,559.52 8,559.52
8,223.17 8,328.26 4,073.40 4,864.75 8,612.87 8,612.87 8,612.87
8,274.43 8,380.17 4,098.79 4,895.08 8,666.56 8,666.56 8,666.56
8,326.01 8,432.41 4,124.34 4,925.59 8,720.58 8,720.58 8,720.58
8,377.90 8,484.97 4,150.04 4,956.29 8,774.94 8,774.94 8,774.94
8,430.13 8,537.86 4,175.91 4,987.19 8,829.63 8,829.63 8,829.63
8,482.67 8,591.08 4,201.94 5,018.27 8,884.67 8,884.67 8,884.67
8,535.55 8,644.63 4,228.13 5,049.55 8,940.05 8,940.05 8,940.05
8,588.76 8,698.52 4,254.49 5,081.03 8,995.78 8,995.78 8,995.78
8,642.29 8,752.74 4,281.01 5,112.70 9,051.85 9,051.85 9,051.85
8,696.16 8,807.30 4,307.69 5,144.57 9,108.28 9,108.28 9,108.28
8,750.37 8,862.19 4,334.55 5,176.64 9,165.05 9,165.05 9,165.05
8,804.91 8,917.44 4,361.56 5,208.91 9,222.18 9,222.18 9,222.18
8,859.80 8,973.02 4,388.75 5,241.38 9,279.67 9,279.67 9,279.67
8,915.02 9,028.95 4,416.11 5,274.05 9,337.51 9,337.51 9,337.51
8,970.59 9,085.23 4,443.64 5,306.92 9,395.71 9,395.71 9,395.71
9,026.51 9,141.86 4,471.33 5,340.00 9,454.28 9,454.28 9,454.28
9,082.77 9,198.85 4,499.21 5,373.29 9,513.21 9,513.21 9,513.21
9,139.39 9,256.19 4,527.25 5,406.78 9,572.51 9,572.51 9,572.51
9,196.36 9,313.89 4,555.47 5,440.48 9,632.18 9,632.18 9,632.18
9,253.68 9,371.94 4,583.87 5,474.40 9,692.22 9,692.22 9,692.22
9,311.36 9,430.36 4,612.44 5,508.52 9,752.63 9,752.63 9,752.63
9,369.41 9,489.14 4,641.19 5,542.86 9,813.43 9,813.43 9,813.43
9,427.81 9,548.29 4,670.12 5,577.41 9,874.60 9,874.60 9,874.60
9,486.57 9,607.81 4,699.23 5,612.17 9,936.15 9,936.15 9,936.15
9,545.71 9,667.70 4,728.52 5,647.15 9,998.08 9,998.08 9,998.08
9,605.21 9,727.96 4,758.00 5,682.36 10,060.40 10,060.40 10,060.40
9,665.08 9,788.60 4,787.65 5,717.78 10,123.11 10,123.11 10,123.11
9,725.33 9,849.61 4,817.50 5,753.42 10,186.22 10,186.22 10,186.22
9,785.95 9,911.01 4,847.53 5,789.28 10,249.71 10,249.71 10,249.71
9,846.95 9,972.79 4,877.74 5,825.37 10,313.60 10,313.60 10,313.60
9,908.33 10,034.95 4,908.15 5,861.68 10,377.89 10,377.89 10,377.89
9,970.09 10,097.50 4,938.74 5,898.21 10,442.58 10,442.58 10,442.58
10,032.24 10,160.44 4,969.53 5,934.98 10,507.67 10,507.67 10,507.67
10,094.77 10,223.78 5,000.50 5,971.98 10,573.17 10,573.17 10,573.17
10,157.69 10,287.51 5,031.67 6,009.20 10,639.07 10,639.07 10,639.07
10,221.01 10,351.63 5,063.04 6,046.66 10,705.39 10,705.39 10,705.39
10,284.72 10,416.16 5,094.60 6,084.35 10,772.12 10,772.12 10,772.12
10,348.83 10,481.08 5,126.35 6,122.27 10,839.27 10,839.27 10,839.27
10,413.34 10,546.42 5,158.31 6,160.44 10,906.83 10,906.83 10,906.83
10,478.25 10,612.16 5,190.46 6,198.84 10,974.82 10,974.82 10,974.82
10,543.56 10,678.30 5,222.81 6,237.48 11,043.23 11,043.23 11,043.23
10,609.28 10,744.87 5,255.37 6,276.36 11,112.06 11,112.06 11,112.06
10,675.41 10,811.84 5,288.13 6,315.48 11,181.33 11,181.33 11,181.33
10,741.96 10,879.24 5,321.09 6,354.85 11,251.02 11,251.02 11,251.02
10,808.92 10,947.05 5,354.26 6,394.46 11,321.16 11,321.16 11,321.16
10,876.29 11,015.29 5,387.63 6,434.32 11,391.72 11,391.72 11,391.72
10,944.09 11,083.95 5,421.22 6,474.42 11,462.73 11,462.73 11,462.73
11,012.30 11,153.04 5,455.01 6,514.78 11,534.18 11,534.18 11,534.18
<CAPTION>
41 42 43 44 45 48 49
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS DEPOT KMART KMART
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT UKIAH
OR WA WA WA IL CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27 7,525,857.47
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 6.960% 7.810% 7.710%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 5TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,952.02 7,588.98 8,878.03 5,702.59 62,188.64 17,941.76 52,958.42
8,001.58 7,636.29 8,933.37 5,738.13 62,549.34 18,058.53 53,298.67
8,051.46 7,683.89 8,989.06 5,773.90 62,912.12 18,176.06 53,641.12
8,101.65 7,731.78 9,045.09 5,809.89 63,277.01 18,294.36 53,985.76
8,152.15 7,779.98 9,101.47 5,846.11 63,644.02 18,413.43 54,332.62
8,202.96 7,828.47 9,158.20 5,882.55 64,013.15 18,533.27 54,681.71
8,254.09 7,877.27 9,215.29 5,919.21 64,384.43 18,653.89 55,033.04
8,305.54 7,926.37 9,272.73 5,956.11 64,757.86 18,775.29 55,386.63
8,357.32 7,975.78 9,330.53 5,993.24 65,133.46 18,897.49 55,742.48
8,409.41 8,025.49 9,388.69 6,030.60 65,511.23 19,020.48 56,100.63
8,461.83 8,075.52 9,447.22 6,068.19 65,891.20 19,144.27 56,461.08
8,514.57 8,125.86 9,506.10 6,106.01 66,273.36 19,268.87 56,823.84
8,567.65 8,176.51 9,565.36 6,144.07 66,657.75 19,394.28 57,188.93
8,621.05 8,227.48 9,624.98 6,182.37 67,044.36 19,520.50 57,556.37
8,674.79 8,278.76 9,684.98 6,220.91 67,433.22 19,647.55 57,926.17
8,728.86 8,330.36 9,745.35 6,259.68 67,824.33 19,775.42 58,298.35
8,783.27 8,382.29 9,806.09 6,298.70 68,217.72 19,904.12 58,672.91
8,838.02 8,434.54 9,867.22 6,337.96 68,613.38 20,033.67 59,049.89
8,893.11 8,487.11 9,928.72 6,377.47 69,011.34 20,164.05 59,429.28
8,948.55 8,540.02 9,990.61 6,417.22 69,411.60 20,295.29 59,811.12
9,004.33 8,593.25 10,052.89 6,457.22 69,814.19 20,427.38 60,195.40
9,060.45 8,646.82 10,115.55 6,497.47 70,219.11 20,560.32 60,582.16
9,116.93 8,700.71 10,178.60 6,537.98 70,626.38 20,694.14 60,971.40
9,173.76 8,754.95 10,242.05 6,578.73 71,036.02 20,828.82 61,363.14
9,230.94 8,809.52 10,305.89 6,619.74 71,448.02 20,964.38 61,757.40
9,288.48 8,864.43 10,370.13 6,661.00 71,862.42 21,100.83 62,154.19
9,346.38 8,919.69 10,434.77 6,702.52 72,279.23 21,238.16 62,553.53
9,404.64 8,975.29 10,499.82 6,744.30 72,698.44 21,376.38 62,955.44
9,463.26 9,031.23 10,565.27 6,786.34 73,120.10 21,515.51 63,359.92
9,522.25 9,087.53 10,631.12 6,828.64 73,544.19 21,655.54 63,767.01
9,581.60 9,144.17 10,697.39 6,871.20 73,970.75 21,796.48 64,176.71
9,641.33 9,201.17 10,764.07 6,914.04 74,399.78 21,938.34 64,589.05
9,701.43 9,258.53 10,831.17 6,957.13 74,831.30 22,081.12 65,004.03
9,761.90 9,316.24 10,898.68 7,000.50 75,265.32 22,224.83 65,423.31
9,822.75 9,374.31 10,966.62 7,044.14 75,701.86 22,369.48 0.00
9,883.98 9,432.74 11,034.97 7,088.04 76,140.93 22,515.07 0.00
9,945.59 9,491.54 11,103.76 7,132.23 76,582.55 22,661.60 0.00
10,007.58 9,550.70 11,172.97 7,176.68 77,026.72 22,809.09 0.00
10,069.96 9,610.24 11,242.62 7,221.42 77,473.48 22,957.54 0.00
10,132.73 9,670.14 11,312.70 7,266.43 77,922.83 23,106.95 0.00
10,195.89 9,730.42 11,383.21 7,311.73 78,374.78 23,257.34 0.00
10,259.45 9,791.07 11,454.17 7,357.30 78,829.35 23,408.71 0.00
10,323.40 9,852.10 11,525.57 7,403.16 79,286.56 23,561.06 0.00
10,387.75 9,913.51 11,597.41 7,449.31 79,746.42 23,714.40 0.00
10,452.50 9,975.31 11,669.70 7,495.74 80,208.95 23,868.75 0.00
10,517.65 10,037.49 11,742.44 7,542.47 80,674.17 24,024.09 0.00
10,583.21 10,100.05 11,815.63 7,589.48 81,142.08 24,180.45 0.00
10,649.18 10,163.01 11,889.29 7,636.79 81,612.70 24,337.82 0.00
10,715.56 10,226.36 11,963.40 7,684.39 82,086.05 24,496.22 0.00
10,782.35 10,290.10 12,037.97 7,732.29 82,562.15 24,655.65 0.00
10,849.56 10,354.25 12,113.00 7,780.49 83,041.01 24,816.12 0.00
10,917.19 10,418.79 12,188.51 7,828.99 83,522.65 24,977.63 0.00
10,985.24 10,483.73 12,264.48 7,877.79 84,007.08 25,140.19 0.00
11,053.72 10,549.08 12,340.93 7,926.89 84,494.32 25,303.81 0.00
11,122.62 10,614.84 12,417.86 7,976.30 84,984.39 25,468.50 0.00
11,191.95 10,681.00 12,495.26 8,026.02 85,477.30 25,634.26 0.00
11,261.71 10,747.58 12,573.15 8,076.05 85,973.07 25,801.09 0.00
11,331.91 10,814.57 12,651.52 8,126.39 86,471.71 25,969.01 0.00
11,402.55 10,881.98 12,730.38 8,177.05 86,973.25 26,138.03 0.00
11,473.62 10,949.81 12,809.74 8,228.02 87,477.69 26,308.14 0.00
11,545.14 11,018.07 12,889.58 8,279.31 87,985.06 26,479.37 0.00
11,617.10 11,086.75 12,969.93 8,330.91 9,853,495.37 26,651.70 0.00
11,689.52 11,155.86 13,050.77 8,382.84 0.00 26,825.16 0.00
<CAPTION>
50 51 52
-- -- --
TIMES
KMART KMART MIRROR
- -------------------------------------------------------
WOODCREST STERLING HEIGHTS LAGUNA HILLS
CA MI CA
- -------------------------------------------------------
3,046,791.84 6,816,611.39 3,578,054.58
- -------------------------------------------------------
7.800% 7.790% 6.630%
- -------------------------------------------------------
5TH 5TH 1ST
- -------------------------------------------------------
<S> <C> <C>
11,381.27 26,672.16 0.00
11,455.25 26,845.31 0.00
11,529.71 27,019.58 0.00
11,604.65 27,194.98 0.00
11,680.08 27,371.53 0.00
11,756.00 27,549.21 0.00
11,832.42 27,728.05 0.00
11,909.33 27,908.05 0.00
11,986.74 28,089.22 0.00
12,064.65 28,271.57 0.00
12,143.07 28,455.10 0.00
12,222.00 28,639.82 0.00
12,301.45 28,825.74 0.00
12,381.41 29,012.87 0.00
12,461.89 29,201.21 0.00
12,542.89 29,390.77 0.00
12,624.42 29,581.57 0.00
12,706.48 29,773.60 0.00
12,789.07 29,966.88 0.00
12,872.20 30,161.42 0.00
12,955.87 30,357.22 0.00
13,040.08 30,554.28 0.00
13,124.84 30,752.63 0.00
13,210.15 30,952.27 0.00
13,296.02 31,153.20 0.00
13,382.44 31,355.44 0.00
13,469.43 31,558.99 0.00
13,556.98 31,763.86 0.00
13,645.10 31,970.06 0.00
13,733.79 32,177.60 0.00
13,823.06 32,386.48 0.00
13,912.91 32,596.72 0.00
14,003.34 32,808.33 0.00
14,094.37 33,021.31 0.00
14,185.98 33,235.68 0.00
14,278.19 33,451.43 0.00
14,371.00 33,668.59 0.00
14,464.41 33,887.15 0.00
14,558.43 34,107.13 0.00
14,653.06 34,328.55 0.00
14,748.30 34,551.40 0.00
14,844.17 34,775.69 0.00
14,940.65 35,001.44 0.00
15,037.77 35,228.66 0.00
15,135.51 35,457.36 0.00
15,233.89 35,687.53 0.00
15,332.91 35,919.20 0.00
15,432.58 36,152.38 0.00
15,532.89 36,387.07 0.00
15,633.85 36,623.28 0.00
15,735.47 36,861.03 0.00
15,837.75 37,100.32 0.00
15,940.70 37,341.16 0.00
16,044.31 37,583.57 0.00
16,148.60 37,827.55 0.00
16,253.57 38,073.11 0.00
16,359.22 38,320.27 0.00
16,465.55 38,569.03 0.00
16,572.58 38,819.41 0.00
16,680.30 39,071.41 0.00
16,788.72 39,325.05 0.00
16,897.85 39,580.33 0.00
17,007.68 39,837.28 0.00
</TABLE>
Page 16
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
34 35 36 37 38 39 40
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE HILLSBORO
IL IL LA MT OR OR OR
- -----------------------------------------------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24 1,691,867.24
- -----------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,080.95 11,222.56 5,489.01 6,555.39 11,606.08 11,606.08 11,606.08
11,150.02 11,292.51 5,523.23 6,596.25 11,678.42 11,678.42 11,678.42
11,219.52 11,362.90 5,557.66 6,637.37 11,751.22 11,751.22 11,751.22
11,289.46 11,433.73 5,592.30 6,678.74 11,824.47 11,824.47 11,824.47
11,359.83 11,505.00 5,627.16 6,720.37 11,898.17 11,898.17 11,898.17
11,430.64 11,576.72 5,662.23 6,762.26 11,972.34 11,972.34 11,972.34
11,501.89 11,648.88 5,697.53 6,804.41 12,046.97 12,046.97 12,046.97
11,573.58 11,721.49 5,733.04 6,846.83 12,122.06 12,122.06 12,122.06
11,645.72 11,794.55 5,768.78 6,889.51 12,197.62 12,197.62 12,197.62
11,718.32 11,868.07 5,804.74 6,932.45 12,273.65 12,273.65 12,273.65
11,791.36 11,942.05 5,840.92 6,975.66 12,350.16 12,350.16 12,350.16
11,864.86 12,016.49 5,877.33 7,019.14 12,427.14 12,427.14 12,427.14
11,938.82 12,091.39 5,913.96 7,062.90 12,504.60 12,504.60 12,504.60
12,013.24 12,166.76 5,950.83 7,106.92 12,582.55 12,582.55 12,582.55
12,088.12 12,242.60 5,987.92 7,151.22 12,660.98 12,660.98 12,660.98
12,163.47 12,318.91 6,025.24 7,195.80 12,739.90 12,739.90 12,739.90
12,239.29 12,395.70 6,062.80 7,240.65 12,819.31 12,819.31 12,819.31
12,315.58 12,472.97 6,100.59 7,285.79 12,899.22 12,899.22 12,899.22
12,392.35 12,550.72 6,138.62 7,331.20 12,979.62 12,979.62 12,979.62
12,469.59 12,628.95 6,176.88 7,376.90 13,060.53 13,060.53 13,060.53
12,547.31 12,707.66 6,215.39 7,422.86 13,141.94 13,141.94 13,141.94
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
41 42 43 44 45 48 49
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS DEPOT KMART KMART
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT UKIAH
OR WA WA WA IL CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27 7,525,857.47
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 6.960% 7.810% 7.710%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 5TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,762.38 11,225.39 13,132.12 8,435.10 0.00 26,999.75 0.00
11,835.70 11,295.37 13,213.98 8,487.67 0.00 27,175.47 0.00
11,909.48 11,365.77 13,296.35 8,540.58 0.00 27,352.34 0.00
11,983.71 11,436.62 13,379.23 8,593.82 0.00 27,530.36 0.00
12,058.41 11,507.91 13,462.62 8,647.39 0.00 27,709.53 0.00
12,133.58 11,579.64 13,546.54 8,701.29 0.00 27,889.88 0.00
12,209.21 11,651.82 13,630.98 8,755.53 0.00 28,071.39 0.00
12,285.31 11,724.45 13,715.95 8,810.10 0.00 28,254.09 0.00
12,361.89 11,797.53 13,801.44 8,865.02 0.00 28,437.98 0.00
12,438.95 11,871.07 13,887.47 8,920.28 0.00 28,623.06 0.00
12,516.48 11,945.07 13,974.04 8,975.88 0.00 28,809.35 0.00
12,594.50 12,019.52 14,061.14 9,031.83 0.00 28,996.85 0.00
12,673.01 12,094.45 14,148.79 9,088.13 0.00 29,185.57 0.00
12,752.00 12,169.83 14,236.99 9,144.78 0.00 29,375.52 0.00
12,831.49 12,245.69 14,325.73 9,201.78 0.00 29,566.71 0.00
12,911.47 12,322.02 14,415.03 9,259.14 0.00 29,759.14 0.00
12,991.95 12,398.83 14,504.88 9,316.85 0.00 29,952.82 0.00
13,072.94 12,476.12 14,595.29 9,374.93 0.00 30,147.76 0.00
13,154.43 12,553.89 14,686.27 9,433.36 0.00 30,343.97 0.00
13,236.42 12,632.14 14,777.82 9,492.17 0.00 30,541.46 0.00
13,318.91 12,710.89 14,869.93 9,551.34 0.00 30,740.24 0.00
0.00 0.00 0.00 0.00 0.00 30,940.30 0.00
0.00 0.00 0.00 0.00 0.00 31,141.67 0.00
0.00 0.00 0.00 0.00 0.00 31,344.35 0.00
0.00 0.00 0.00 0.00 0.00 31,548.35 0.00
0.00 0.00 0.00 0.00 0.00 31,753.68 0.00
0.00 0.00 0.00 0.00 0.00 31,960.34 0.00
0.00 0.00 0.00 0.00 0.00 32,168.35 0.00
0.00 0.00 0.00 0.00 0.00 32,377.72 0.00
0.00 0.00 0.00 0.00 0.00 32,588.44 0.00
0.00 0.00 0.00 0.00 0.00 32,800.54 0.00
0.00 0.00 0.00 0.00 0.00 33,014.01 0.00
0.00 0.00 0.00 0.00 0.00 33,228.88 0.00
0.00 0.00 0.00 0.00 0.00 33,445.14 0.00
0.00 0.00 0.00 0.00 0.00 33,662.82 0.00
0.00 0.00 0.00 0.00 0.00 33,881.91 0.00
0.00 0.00 0.00 0.00 0.00 34,102.42 0.00
0.00 0.00 0.00 0.00 0.00 34,324.37 0.00
0.00 0.00 0.00 0.00 0.00 34,547.77 0.00
0.00 0.00 0.00 0.00 0.00 34,772.61 0.00
0.00 0.00 0.00 0.00 0.00 34,998.93 0.00
0.00 0.00 0.00 0.00 0.00 35,226.71 0.00
0.00 0.00 0.00 0.00 0.00 35,455.98 0.00
0.00 0.00 0.00 0.00 0.00 35,686.74 0.00
0.00 0.00 0.00 0.00 0.00 35,919.00 0.00
0.00 0.00 0.00 0.00 0.00 36,152.77 0.00
0.00 0.00 0.00 0.00 0.00 36,388.06 0.00
0.00 0.00 0.00 0.00 0.00 36,624.89 0.00
0.00 0.00 0.00 0.00 0.00 36,863.26 0.00
0.00 0.00 0.00 0.00 0.00 37,103.18 0.00
0.00 0.00 0.00 0.00 0.00 37,344.66 0.00
0.00 0.00 0.00 0.00 0.00 37,587.71 0.00
0.00 0.00 0.00 0.00 0.00 37,832.34 0.00
0.00 0.00 0.00 0.00 0.00 38,078.57 0.00
0.00 0.00 0.00 0.00 0.00 38,326.39 0.00
0.00 0.00 0.00 0.00 0.00 38,575.83 0.00
0.00 0.00 0.00 0.00 0.00 38,826.90 0.00
0.00 0.00 0.00 0.00 0.00 39,079.60 0.00
0.00 0.00 0.00 0.00 0.00 39,333.94 0.00
0.00 0.00 0.00 0.00 0.00 39,589.94 0.00
0.00 0.00 0.00 0.00 0.00 39,847.60 0.00
0.00 0.00 0.00 0.00 0.00 40,106.94 0.00
0.00 0.00 0.00 0.00 0.00 40,367.97 0.00
<CAPTION>
50 51 52
-- -- --
TIMES
KMART KMART MIRROR
- -------------------------------------------------------
WOODCREST STERLING HEIGHTS LAGUNA HILLS
CA MI CA
- -------------------------------------------------------
3,046,791.84 6,816,611.39 3,578,054.58
- -------------------------------------------------------
7.800% 7.790% 6.630%
- -------------------------------------------------------
5TH 5TH 1ST
- -------------------------------------------------------
<S> <C> <C>
17,118.23 40,095.89 0.00
17,229.50 40,356.18 0.00
17,341.49 40,618.15 0.00
17,454.21 40,881.83 0.00
17,567.67 41,147.23 0.00
17,681.86 41,414.34 0.00
17,796.79 41,683.19 0.00
17,912.47 41,953.78 0.00
18,028.90 42,226.13 0.00
18,146.09 42,500.25 0.00
18,264.03 42,776.15 0.00
18,382.75 43,053.84 0.00
18,502.24 43,333.33 0.00
18,622.50 43,614.63 0.00
18,743.55 43,897.76 0.00
18,865.38 44,182.73 0.00
18,988.01 44,469.55 0.00
19,111.43 44,758.23 0.00
19,235.65 45,048.79 0.00
19,360.69 45,341.23 0.00
19,486.53 45,635.57 0.00
19,613.19 45,931.82 0.00
19,740.68 46,230.00 0.00
19,868.99 46,530.11 0.00
19,998.14 46,832.16 0.00
20,128.13 47,136.18 0.00
20,258.96 47,442.18 0.00
20,390.65 47,750.15 0.00
20,523.18 48,060.13 0.00
20,656.59 48,372.12 0.00
20,790.85 48,686.14 0.00
20,925.99 49,002.19 0.00
21,062.01 49,320.30 0.00
21,198.92 49,640.47 0.00
21,336.71 49,962.72 0.00
21,475.40 50,287.06 0.00
21,614.99 50,613.51 0.00
21,755.48 50,942.07 0.00
21,896.90 51,272.77 0.00
22,039.23 51,605.62 0.00
22,182.48 51,940.62 0.00
22,326.67 52,277.81 0.00
22,471.79 52,614.31 0.00
22,617.86 0.00 0.00
22,764.87 0.00 0.00
22,912.84 0.00 0.00
23,061.78 0.00 0.00
23,211.68 0.00 0.00
23,365.35 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 17
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
34 35 36 37 38 39 40
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD EUGENE HILLSBORO
IL IL LA MT OR OR OR
- -----------------------------------------------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24 1,691,867.24 1,691,867.24
- -----------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
41 42 43 44 45 48 49
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS DEPOT KMART KMART
- ------------------------------------------------------------------------------------------------------------------------------------
SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO TAFT UKIAH
OR WA WA WA IL CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53 5,386,097.27 7,525,857.47
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 6.960% 7.810% 7.710%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 5TH 5TH
- ------------------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 40,630.60 0.00
<CAPTION>
50 51 52
-- -- --
TIMES
KMART KMART MIRROR
- -------------------------------------------------------
WOODCREST STERLING HEIGHTS LAGUNA HILLS
CA MI CA
- -------------------------------------------------------
3,046,791.84 6,816,611.39 3,578,054.58
- -------------------------------------------------------
7.800% 7.790% 6.630%
- -------------------------------------------------------
5TH 5TH 1ST
- -------------------------------------------------------
<C> <C> <C>
0.00 0.00 0.00
</TABLE>
Page 18
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
53 54 55 56 57 58 59
-- -- -- -- -- -- --
MONROE NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE PRICE
COUNTY, NY WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT CHOPPER
- ------------------------------------------------------------------------------------------------------------------------------------
ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN WALLKILL
NY NY NJ PA PA OH NY
- ------------------------------------------------------------------------------------------------------------------------------------
15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74 5,544,666.27
- ------------------------------------------------------------------------------------------------------------------------------------
6.640% 9.000% 7.400% 7.460% 7.140% 8.817715% 7.571%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 76,586.58 7,029.97 29,746.07 0.00 1,736.68 4,138.70
0.00 77,160.98 7,073.33 29,930.99 0.00 1,749.44 4,164.81
0.00 77,739.68 7,116.94 30,117.06 0.00 1,762.29 4,191.08
0.00 78,322.73 7,160.83 30,304.29 0.00 1,775.24 4,217.53
0.00 78,910.15 7,204.99 30,492.68 0.00 1,788.29 4,244.14
0.00 79,501.98 7,249.42 30,682.24 0.00 1,801.43 4,270.91
32,185.02 80,098.24 7,294.13 30,872.98 0.00 1,814.66 4,297.86
32,363.11 80,698.98 7,339.11 31,064.91 0.00 1,828.00 4,324.97
32,542.18 81,304.22 7,384.36 31,258.03 0.00 1,841.43 4,352.26
32,722.25 81,914.00 7,429.90 31,452.35 0.00 1,854.96 4,379.72
32,903.31 82,528.36 7,475.72 31,647.88 0.00 1,868.59 4,407.35
33,085.38 83,147.32 7,521.82 31,844.63 0.00 1,882.32 4,435.16
33,268.45 83,770.93 7,568.20 32,042.59 0.00 1,842.81 4,463.14
33,452.54 84,399.21 7,614.87 32,241.79 0.00 1,856.35 4,491.30
33,637.64 85,032.20 7,661.83 32,442.23 0.00 1,869.99 4,519.64
33,823.77 85,669.94 7,709.08 32,643.91 24,934.97 1,883.74 4,548.15
34,010.93 86,312.47 7,756.62 32,846.85 25,083.33 1,897.58 4,576.85
34,199.12 86,959.81 7,804.45 33,051.04 25,232.58 1,911.52 4,605.72
34,353.76 87,612.01 7,852.58 33,256.51 25,382.71 1,925.57 4,634.78
34,543.86 88,269.10 7,901.00 33,463.26 25,533.74 1,939.72 4,664.02
34,735.00 88,931.12 7,949.73 33,671.29 25,685.67 1,953.97 4,693.45
34,927.20 89,598.10 7,998.75 33,880.61 25,838.50 1,968.33 4,723.06
35,120.46 90,270.09 8,048.08 34,091.23 25,992.24 1,982.79 4,752.86
35,314.80 90,947.11 8,097.71 34,303.17 26,146.89 1,997.36 4,782.85
35,510.20 91,629.22 8,147.64 34,516.42 26,302.46 1,956.03 4,813.02
35,706.69 92,316.44 8,197.89 34,731.00 26,458.96 1,970.40 4,843.39
35,904.27 93,008.81 8,248.44 34,946.91 26,616.39 1,984.88 4,873.95
36,102.94 93,706.38 8,299.31 35,164.16 26,774.76 1,999.46 4,904.70
36,302.71 94,409.17 8,350.48 35,382.76 26,934.07 2,014.16 4,935.64
36,503.59 95,117.24 8,401.98 35,602.73 27,094.33 2,028.96 4,966.78
36,669.26 95,830.62 8,453.79 35,824.06 27,255.54 2,043.87 4,998.12
36,872.17 96,549.35 8,505.92 36,046.76 27,417.71 2,058.88 5,029.65
37,076.19 97,273.47 8,558.38 36,270.85 27,580.85 2,074.01 5,061.38
37,281.35 98,003.02 8,611.15 36,496.34 27,744.95 2,089.25 5,093.32
37,487.64 98,738.05 8,664.25 36,723.22 27,910.04 2,104.61 5,125.45
37,695.07 99,478.58 8,717.68 36,951.52 28,076.10 2,120.07 5,157.79
37,903.65 100,224.67 8,771.44 37,181.24 28,243.15 2,076.84 5,190.33
38,113.38 100,976.36 8,825.53 37,412.38 28,411.20 2,092.10 5,223.08
38,324.27 101,733.68 8,879.96 37,644.96 28,580.25 2,107.47 5,256.03
38,536.34 102,496.68 8,934.72 37,878.99 28,750.30 2,122.96 5,289.19
38,749.57 103,265.41 8,989.82 38,114.47 28,921.36 2,138.56 5,322.56
38,963.98 104,039.90 9,045.25 38,351.41 29,093.44 2,154.27 5,356.14
39,141.46 104,820.20 9,101.03 38,589.83 29,266.55 2,170.10 7,353.48
39,358.04 105,606.35 9,157.15 38,829.73 29,440.69 2,186.05 7,399.87
39,575.82 106,398.40 9,213.62 39,071.12 29,615.86 2,202.11 7,446.56
39,794.81 107,196.38 9,270.44 39,314.01 29,792.07 2,218.29 7,493.54
40,015.00 108,000.36 9,327.61 39,558.42 29,969.34 2,234.59 7,540.82
<CAPTION>
60 61 62 64 65 66 67
-- -- -- -- -- -- --
PRICE
CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO WILLOW BROOK
VT FL FL TX TX TX TX
- ------------------------------------------------------------------------------------------------------------------------------------
6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------------------------------------------------------------------------------
7.950% 8.760% 8.760% 8.760% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,756.20 11,987.46 11,621.41 9,258.88 9,923.82 10,731.70 8,261.79
3,781.08 12,074.97 11,706.25 9,326.47 9,996.27 10,810.04 8,322.10
3,806.13 12,163.12 11,791.70 9,394.56 10,069.24 10,888.95 8,382.86
3,831.35 12,251.91 11,877.78 9,463.14 10,142.75 10,968.44 8,444.05
3,856.73 12,341.35 11,964.49 9,532.22 10,216.79 11,048.51 8,505.69
3,882.28 12,431.44 12,051.83 9,601.80 10,291.37 11,129.16 8,567.78
3,908.00 12,522.19 12,139.81 9,671.90 10,366.50 11,210.41 8,630.33
3,933.89 12,613.60 12,228.43 9,742.50 10,442.17 11,292.24 8,693.33
3,959.95 12,705.68 12,317.70 9,813.62 10,518.40 11,374.68 8,756.79
3,986.19 12,798.43 12,407.62 9,885.26 10,595.19 11,457.71 8,820.72
4,012.60 12,891.86 12,498.19 9,957.42 10,672.53 11,541.35 8,885.11
4,039.18 12,985.97 12,589.43 10,030.11 10,750.44 11,625.60 8,949.97
4,065.94 13,080.77 12,681.33 10,103.33 10,828.92 11,710.47 9,015.30
4,092.88 13,176.26 12,773.90 10,177.09 10,907.97 11,795.96 9,081.11
4,119.99 13,272.45 12,867.15 10,251.38 10,987.60 11,882.07 9,147.41
4,147.29 13,369.34 12,961.08 10,326.22 11,067.81 11,968.81 9,214.18
4,174.76 13,466.93 13,055.70 10,401.60 11,148.60 12,056.18 9,281.45
4,202.42 13,565.24 13,151.01 10,477.53 11,229.99 12,144.19 9,349.20
4,230.26 13,664.27 13,247.01 10,554.01 11,311.97 12,232.84 9,417.45
4,258.29 13,764.02 13,343.71 10,631.06 11,394.54 12,322.14 9,486.20
4,286.50 13,864.49 13,441.12 10,708.67 11,477.72 12,412.09 9,555.45
4,314.90 13,965.70 13,539.24 10,786.84 11,561.51 12,502.70 9,625.20
4,343.48 14,067.65 13,638.08 10,865.58 11,645.91 12,593.97 9,695.47
4,372.26 14,170.35 13,737.64 10,944.90 11,730.93 12,685.91 9,766.24
4,401.23 14,273.79 13,837.92 11,024.80 11,816.56 12,778.51 9,837.54
4,430.38 14,377.99 13,938.94 11,105.28 11,902.82 12,871.80 9,909.35
4,459.73 14,482.95 14,040.69 11,186.35 11,989.71 12,965.76 9,981.69
4,489.28 14,588.67 14,143.19 11,268.01 12,077.24 13,060.41 10,054.55
4,519.02 14,695.17 14,246.43 11,350.27 12,165.40 13,155.75 10,127.95
4,548.96 14,802.45 14,350.43 11,433.12 12,254.21 13,251.79 10,201.89
4,579.10 14,910.50 14,455.19 11,516.58 12,343.66 13,348.53 10,276.36
4,609.43 15,019.35 14,560.71 11,600.65 12,433.77 13,445.97 10,351.38
4,639.97 15,128.99 14,667.01 11,685.34 12,524.54 13,544.13 10,426.94
4,670.71 15,239.43 14,774.08 11,770.64 12,615.97 13,643.00 10,503.06
4,701.65 15,350.68 14,881.93 11,856.57 12,708.07 13,742.59 10,579.73
4,732.80 15,462.74 14,990.57 11,943.12 12,800.83 13,842.91 10,656.96
4,764.16 15,575.62 15,100.00 12,030.31 12,894.28 13,943.97 10,734.76
4,795.72 15,689.32 15,210.23 12,118.13 12,988.41 14,045.76 10,813.12
4,827.49 15,803.85 15,321.26 12,206.59 13,083.22 14,148.29 10,892.06
4,859.47 15,919.22 15,433.11 12,295.70 13,178.73 14,251.58 10,971.57
4,891.67 16,035.43 15,545.77 12,385.46 13,274.94 14,355.61 11,051.66
4,924.08 16,152.49 15,659.25 12,475.87 13,371.84 14,460.41 11,132.34
4,956.70 16,270.40 15,773.56 12,566.94 13,469.46 14,565.97 11,213.61
4,989.54 16,389.18 15,888.71 12,658.68 13,567.79 14,672.30 11,295.47
5,022.59 16,508.82 16,004.70 12,751.09 13,666.83 14,779.41 11,377.92
5,055.87 16,629.33 16,121.53 12,844.17 13,766.60 14,887.30 11,460.98
5,089.36 16,750.73 16,239.22 12,937.94 13,867.09 14,995.98 11,544.65
<CAPTION>
68 69
-- --
RITE AID RITE AID
- --------------------------------------
BRENTWOOD ELK GROVE
CA CA
- --------------------------------------
4,669,039.90 4,072,992.28
- --------------------------------------
6.739% 6.739%
- --------------------------------------
10TH 10TH
- --------------------------------------
<S> <C>
6,131.51 5,348.76
6,165.94 5,378.80
6,200.57 5,409.01
6,235.39 5,439.38
6,270.41 5,469.93
6,305.62 5,500.65
6,341.03 5,531.54
6,376.64 5,562.60
6,412.45 5,593.84
6,448.47 5,625.26
6,484.68 5,656.85
6,521.10 5,688.62
6,557.72 5,720.56
6,594.54 5,752.69
6,631.58 5,784.99
6,668.82 5,817.48
6,706.27 5,850.15
6,743.93 5,883.00
6,781.80 5,916.04
6,819.89 5,949.27
6,858.19 5,982.68
6,896.70 6,016.27
6,935.44 6,050.06
6,974.38 6,084.04
7,013.55 6,118.20
7,052.94 6,152.56
7,092.55 6,187.11
7,132.38 6,221.86
7,172.43 6,256.80
7,212.71 6,291.94
7,253.21 6,327.27
7,293.95 6,362.81
7,334.91 6,398.54
7,376.10 6,434.47
7,417.52 6,470.61
7,459.18 6,506.94
7,501.07 6,543.49
7,543.19 6,580.23
7,585.55 6,617.19
7,628.15 6,654.35
7,670.99 6,691.72
7,714.07 6,729.30
7,757.39 6,767.09
7,800.96 6,805.09
7,844.77 6,843.31
7,888.82 6,881.74
7,933.12 6,920.38
</TABLE>
Page 19
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
53 54 55 56 57 58 59
-- -- -- -- -- -- --
MONROE NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE PRICE
COUNTY, NY WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT CHOPPER
- ------------------------------------------------------------------------------------------------------------------------------------
ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN WALLKILL
NY NY NJ PA PA OH NY
- ------------------------------------------------------------------------------------------------------------------------------------
15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74 5,544,666.27
- ------------------------------------------------------------------------------------------------------------------------------------
6.640% 9.000% 7.400% 7.460% 7.140% 8.817715% 7.571%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
40,236.42 108,810.36 9,385.13 39,804.34 30,147.65 2,251.01 7,588.39
40,459.06 109,626.44 9,443.00 40,051.79 30,327.03 2,203.80 7,636.27
40,682.93 110,448.63 9,501.24 40,300.78 30,507.48 7,618.94 7,684.45
40,908.05 111,277.00 9,559.83 40,551.31 30,689.00 7,674.92 7,732.93
41,134.40 112,111.58 9,618.78 40,803.41 30,871.60 7,731.32 7,781.72
41,362.02 112,952.41 9,678.09 41,057.07 31,055.28 7,788.13 7,830.81
41,590.88 113,799.56 9,737.78 41,312.31 31,240.06 7,845.36 7,880.22
41,780.98 114,653.05 9,797.83 41,569.13 31,425.94 7,903.01 7,929.94
42,012.17 115,512.95 9,858.25 41,827.55 31,612.92 7,961.08 7,979.97
42,244.64 116,379.30 9,919.04 42,087.58 31,801.02 8,019.58 8,030.32
42,478.39 117,252.14 9,980.21 42,349.22 31,990.24 8,078.50 8,080.98
42,713.44 118,131.53 10,041.75 42,612.49 32,180.58 8,137.87 8,131.97
42,949.79 119,017.52 10,103.67 42,877.40 32,372.05 8,197.66 8,183.27
43,187.44 119,910.15 10,165.98 43,143.96 32,564.67 8,193.06 8,234.90
43,426.41 120,809.48 10,228.67 43,412.17 32,758.43 8,253.26 8,286.86
43,666.70 121,715.55 10,291.75 43,682.05 32,953.34 8,313.91 8,339.14
43,908.33 122,628.42 10,355.21 43,953.60 33,149.41 8,375.00 8,391.75
44,151.29 123,548.13 10,419.07 44,226.85 33,346.65 8,436.54 8,444.70
44,395.59 124,474.74 10,483.32 44,501.79 33,545.06 8,498.53 8,497.98
44,599.21 125,408.30 10,547.97 44,778.45 33,744.66 8,560.98 8,551.59
44,845.99 126,348.86 10,613.01 45,056.82 33,945.44 8,623.89 8,605.54
45,094.14 127,296.48 10,678.46 45,336.92 34,147.41 8,687.26 8,659.84
45,343.66 128,251.20 10,744.31 45,618.77 34,350.59 8,751.09 8,714.48
45,594.56 129,213.09 10,810.57 45,902.36 34,554.98 8,815.40 8,769.46
45,846.85 130,182.19 10,877.23 46,187.72 34,760.58 8,880.17 8,824.78
46,100.53 131,158.55 10,944.31 46,474.86 34,967.40 8,877.35 8,880.46
46,355.62 132,142.24 11,011.80 46,763.77 35,175.46 8,942.58 8,936.49
46,612.12 133,133.31 11,079.71 47,054.49 35,384.75 9,008.29 8,992.87
46,870.04 134,131.81 11,148.03 47,347.01 35,595.29 9,074.48 9,049.61
47,129.39 135,137.80 11,216.78 47,641.35 35,807.09 9,141.16 9,106.70
47,390.17 136,151.33 11,285.95 47,937.52 36,020.14 9,208.33 9,164.16
47,608.26 137,172.46 11,355.54 48,235.53 36,234.46 9,276.00 9,221.98
47,871.69 138,201.26 11,425.57 48,535.40 36,450.05 9,344.16 9,280.16
48,136.58 139,237.77 11,496.03 48,837.13 36,666.93 9,412.82 9,338.71
48,402.94 140,282.05 11,566.92 49,140.73 36,885.10 9,481.99 9,397.63
48,670.77 141,334.17 11,638.25 49,446.22 37,104.56 9,551.66 9,456.92
48,940.08 142,394.17 11,710.02 49,753.61 37,325.34 9,621.85 9,516.59
49,210.88 143,462.13 11,782.23 50,062.92 37,547.42 9,621.07 9,576.63
49,483.18 144,538.09 11,854.89 50,374.14 37,770.83 9,691.77 9,637.05
49,756.99 145,622.13 11,927.99 50,687.30 37,995.57 9,762.98 9,697.85
50,032.31 146,714.30 12,001.55 51,002.40 38,221.64 9,834.72 9,759.04
50,309.16 147,814.65 12,075.56 51,319.47 38,449.06 9,906.99 9,820.61
50,587.53 148,923.26 12,150.02 51,638.51 38,677.83 9,979.78 9,882.57
50,821.10 150,040.19 12,224.95 51,959.53 38,907.96 10,053.12 9,944.92
51,102.31 151,165.49 12,300.34 52,282.54 39,139.47 10,126.99 10,007.66
51,385.08 152,299.23 12,376.19 52,607.56 39,372.35 10,201.40 10,070.80
51,669.41 153,441.47 12,452.51 52,934.61 39,606.61 10,276.36 10,134.34
51,955.31 154,592.29 12,529.30 53,263.68 39,842.27 10,351.88 10,198.28
52,242.80 155,751.73 12,606.56 53,594.81 40,079.33 10,427.94 10,262.62
52,531.87 156,919.87 12,684.30 53,927.99 40,317.80 10,429.51 10,327.37
52,822.55 158,096.76 12,762.52 54,263.24 40,557.70 10,506.14 10,392.53
53,114.84 159,282.49 12,841.22 54,600.58 40,799.01 10,583.34 10,458.10
53,408.74 160,477.11 12,920.41 54,940.01 41,041.77 10,661.11 10,524.08
53,704.27 161,680.69 13,000.09 55,281.55 41,285.97 10,739.45 10,590.48
54,001.43 162,893.29 13,080.26 55,625.22 41,531.62 10,818.37 10,657.29
54,251.57 164,114.99 13,160.92 55,971.02 41,778.73 10,897.86 12,786.25
54,551.76 165,345.85 13,242.08 56,318.98 42,027.31 10,977.94 12,866.92
54,853.61 166,585.95 13,323.74 56,669.09 42,277.38 11,058.61 12,948.10
55,157.14 167,835.34 13,405.90 57,021.39 42,528.93 11,139.86 13,029.79
55,462.34 169,094.11 13,488.57 57,375.87 42,781.97 11,221.72 13,112.00
55,769.23 170,362.31 13,571.75 57,732.56 43,036.53 11,304.18 13,194.73
56,077.82 171,640.03 13,655.44 58,091.46 43,292.59 11,308.43 13,277.98
56,388.12 172,927.33 13,739.65 58,452.60 43,550.19 17,563.55 13,361.75
<CAPTION>
60 61 62 64 65 66 67
-- -- -- -- -- -- --
PRICE
CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO WILLOW BROOK
VT FL FL TX TX TX TX
- ------------------------------------------------------------------------------------------------------------------------------------
6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------------------------------------------------------------------------------
7.950% 8.760% 8.760% 8.760% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,123.08 16,873.01 16,357.77 13,032.38 13,968.32 15,105.45 11,628.92
5,157.02 16,996.18 16,477.18 13,127.52 14,070.29 15,215.72 11,713.81
5,191.18 17,120.25 16,597.46 13,223.35 14,173.01 15,326.79 11,799.33
5,225.58 17,245.23 16,718.62 13,319.88 14,276.47 15,438.68 11,885.46
5,260.20 17,371.12 16,840.67 13,417.12 14,380.69 15,551.38 11,972.22
5,295.04 17,497.93 16,963.61 13,515.06 14,485.67 15,664.90 12,059.62
5,330.12 17,625.67 17,087.44 13,613.72 14,591.41 15,779.26 12,147.66
5,365.44 17,754.33 17,212.18 13,713.10 14,697.93 15,894.45 12,236.33
7,642.75 17,883.94 17,337.83 13,813.21 14,805.22 16,010.48 12,325.66
7,693.38 18,014.49 17,464.39 13,914.04 14,913.30 16,127.35 12,415.64
7,744.35 18,146.00 17,591.88 14,015.62 15,022.17 16,245.08 12,506.27
7,795.66 18,278.46 17,720.30 14,117.93 15,131.83 16,363.67 12,597.57
7,847.31 18,411.90 17,849.66 14,220.99 15,242.29 16,483.13 12,689.53
7,899.29 18,546.30 17,979.97 14,324.80 15,353.56 16,603.45 12,782.16
7,951.63 18,681.69 18,111.22 14,429.38 15,465.64 16,724.66 12,875.47
8,004.31 18,818.07 18,243.43 14,534.71 15,578.54 16,846.75 12,969.46
8,057.34 18,955.44 18,376.61 14,640.81 15,692.27 16,969.73 13,064.14
8,110.72 19,093.81 18,510.76 14,747.69 15,806.82 17,093.61 13,159.51
8,164.45 19,233.20 18,645.89 14,855.35 15,922.21 17,218.39 13,255.57
8,218.54 19,373.60 18,782.00 14,963.79 16,038.44 17,344.09 13,352.34
8,272.99 19,515.03 18,919.11 15,073.03 16,155.52 17,470.70 13,449.81
8,327.79 19,657.49 19,057.22 15,183.06 16,273.46 17,598.23 13,547.99
8,382.97 19,800.99 19,196.34 15,293.90 16,392.25 17,726.70 13,646.89
8,438.50 19,945.54 19,336.47 15,405.54 16,511.92 17,856.11 13,746.52
8,494.41 20,091.14 19,477.63 15,518.00 16,632.45 17,986.45 13,846.87
8,550.68 20,237.80 19,619.81 15,631.29 16,753.87 18,117.76 13,947.95
8,607.33 20,385.54 19,763.04 15,745.39 16,876.17 18,250.02 14,049.77
8,664.36 20,534.35 19,907.31 15,860.34 16,999.37 18,383.24 14,152.33
8,721.76 20,684.25 20,052.63 15,976.12 17,123.46 18,517.44 14,255.64
8,779.54 20,835.25 20,199.02 16,092.74 17,248.47 18,652.62 14,359.71
8,837.70 20,987.35 20,346.47 16,210.22 17,374.38 18,788.78 14,464.54
8,896.25 21,140.55 20,495.00 16,328.55 17,501.21 18,925.94 14,570.13
8,955.19 21,294.88 20,644.61 16,447.75 17,628.97 19,064.10 14,676.49
9,014.52 21,450.33 20,795.32 16,567.82 17,757.66 19,203.27 14,783.63
9,074.24 21,606.92 20,947.12 16,688.77 17,887.29 19,343.45 14,891.55
9,134.36 21,764.65 21,100.04 16,810.59 18,017.87 19,484.66 15,000.26
9,194.87 21,923.53 21,254.07 16,933.31 18,149.40 19,626.89 15,109.76
9,255.79 22,083.58 21,409.22 17,056.92 18,281.89 19,770.17 15,220.06
9,317.11 22,244.79 21,565.51 17,181.44 18,415.35 19,914.49 15,331.17
9,378.83 22,407.17 21,722.94 17,306.86 18,549.78 20,059.87 15,443.08
9,440.97 22,570.74 21,881.51 17,433.20 18,685.20 20,206.31 15,555.82
9,503.51 22,735.51 22,041.25 17,560.47 18,821.60 20,353.81 15,669.38
9,566.48 22,901.48 22,202.15 17,688.66 18,959.00 20,502.39 15,783.76
9,629.85 23,068.66 22,364.23 17,817.78 19,097.40 20,652.06 15,898.98
9,693.65 23,237.06 22,527.48 17,947.85 19,236.81 20,802.82 16,015.05
9,757.87 23,406.69 22,691.94 18,078.87 19,377.24 20,954.68 16,131.96
9,822.52 23,577.56 22,857.59 18,210.85 19,518.69 21,107.65 16,249.72
9,887.59 23,749.68 23,024.45 18,343.79 19,661.18 21,261.74 16,368.34
9,953.10 23,923.05 23,192.53 18,477.70 19,804.70 21,416.95 16,487.83
10,019.04 24,097.69 23,361.83 18,612.59 19,949.28 21,573.29 16,608.19
10,085.41 24,273.60 23,532.37 18,748.46 20,094.91 21,730.78 16,729.43
10,152.23 24,450.80 23,704.16 18,885.32 20,241.60 21,889.41 16,851.56
10,219.49 24,629.29 23,877.20 19,023.18 20,389.36 22,049.20 16,974.57
10,287.19 24,809.08 24,051.50 19,162.05 20,538.21 22,210.16 17,098.49
10,355.34 24,990.19 24,227.08 19,301.94 20,688.13 22,372.30 17,223.31
10,423.95 25,172.62 24,403.94 19,442.84 20,839.16 22,535.62 17,349.04
10,493.01 25,356.38 24,582.08 19,584.77 20,991.28 22,700.13 17,475.68
10,562.52 25,541.48 24,761.53 19,727.74 21,144.52 22,865.84 17,603.26
10,632.50 25,727.93 24,942.29 19,871.75 21,298.87 23,032.76 17,731.76
10,702.94 25,915.75 25,124.37 20,016.82 21,454.36 23,200.90 17,861.20
10,773.85 26,104.93 25,307.78 20,162.94 21,610.97 23,370.26 17,991.59
10,845.22 26,295.50 25,492.53 20,310.13 21,768.73 23,540.87 18,122.93
10,917.07 26,487.46 25,678.62 20,458.39 21,927.65 23,712.71 18,255.23
<CAPTION>
68 69
-- --
RITE AID RITE AID
- --------------------------------------
BRENTWOOD ELK GROVE
CA CA
- --------------------------------------
4,669,039.90 4,072,992.28
- --------------------------------------
6.739% 6.739%
- --------------------------------------
10TH 10TH
- --------------------------------------
<S> <C>
7,977.67 6,959.25
8,022.48 6,998.33
8,067.53 7,037.63
8,112.83 7,077.15
8,158.39 7,116.90
8,204.21 7,156.86
8,250.28 7,197.06
8,296.62 7,237.47
8,343.21 7,278.12
8,390.06 7,318.99
8,437.18 7,360.09
8,484.56 7,401.43
8,532.21 7,442.99
8,580.12 7,484.79
8,628.31 7,526.82
8,676.76 7,569.09
8,725.49 7,611.60
8,774.49 7,654.34
8,823.77 7,697.33
8,873.32 7,740.56
8,923.15 7,784.03
8,973.26 7,827.74
9,023.66 7,871.70
9,074.33 7,915.91
9,125.29 7,960.36
9,176.54 8,005.06
9,228.07 8,050.02
9,279.89 8,095.23
9,332.01 8,140.69
9,384.42 8,186.41
9,437.12 8,232.38
9,490.11 8,278.61
9,543.41 8,325.10
9,597.00 8,371.85
9,650.90 8,418.87
9,705.10 8,466.15
9,759.60 8,513.69
9,814.41 8,561.50
9,869.52 8,609.58
9,924.95 8,657.93
9,980.69 8,706.56
10,036.74 8,755.45
10,093.10 8,804.62
10,149.78 8,854.06
10,206.78 8,903.79
10,264.10 8,953.79
10,321.74 9,004.07
10,379.71 9,054.64
10,438.00 9,105.49
10,496.62 9,156.62
10,555.56 9,208.04
10,614.84 9,259.76
10,674.45 9,311.76
10,734.40 9,364.05
10,794.68 9,416.64
10,855.30 9,469.52
10,916.26 9,522.70
10,977.57 9,576.18
11,039.22 9,629.95
11,101.21 9,684.03
11,163.55 9,738.42
11,226.25 9,793.11
11,289.29 9,848.10
</TABLE>
Page 20
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
53 54 55 56 57 58 59
-- -- -- -- -- -- --
MONROE NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE PRICE
COUNTY, NY WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT CHOPPER
- ------------------------------------------------------------------------------------------------------------------------------------
ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN WALLKILL
NY NY NJ PA PA OH NY
- ------------------------------------------------------------------------------------------------------------------------------------
15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74 5,544,666.27
- ------------------------------------------------------------------------------------------------------------------------------------
6.640% 9.000% 7.400% 7.460% 7.140% 8.817715% 7.571%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
56,700.13 174,224.29 13,824.38 58,815.98 43,809.31 17,692.61 13,446.05
57,013.87 175,530.97 13,909.63 11,273,262.49 44,069.97 17,822.62 13,530.88
57,329.35 176,847.45 13,995.40 0.00 44,332.19 17,953.58 13,616.25
57,646.57 178,173.81 14,081.71 0.00 44,595.97 18,085.50 13,702.16
57,914.45 179,510.11 2,767,497.60 0.00 44,861.31 18,218.40 13,788.61
58,234.91 180,856.44 0.00 0.00 45,128.24 18,352.27 13,875.60
58,557.14 182,212.86 0.00 0.00 45,396.75 18,487.12 13,963.15
58,881.16 183,579.46 0.00 0.00 45,666.86 18,622.97 14,051.24
59,206.97 184,956.30 0.00 0.00 45,938.58 18,759.81 14,139.89
59,534.58 186,343.47 0.00 0.00 46,211.91 18,897.66 14,229.10
59,864.00 187,741.05 0.00 0.00 46,486.87 18,953.77 14,318.88
60,195.25 189,149.11 0.00 0.00 46,763.47 19,093.04 14,409.22
60,528.33 190,567.73 0.00 0.00 47,041.71 19,233.34 14,500.13
60,863.26 191,996.98 0.00 0.00 47,321.61 19,374.67 14,591.61
61,200.03 193,436.96 0.00 0.00 47,603.18 19,517.04 14,683.67
61,538.67 194,887.74 0.00 0.00 47,886.42 19,660.45 14,776.32
61,825.54 196,349.40 0.00 0.00 48,171.34 19,804.92 14,869.54
62,167.64 197,822.02 0.00 0.00 48,457.96 19,950.45 14,963.36
62,511.63 199,305.68 0.00 0.00 48,746.28 20,097.04 15,057.76
62,857.53 200,800.48 0.00 0.00 49,036.32 20,244.72 15,152.76
63,205.34 202,306.48 0.00 0.00 49,328.09 20,393.48 15,248.37
63,555.08 203,823.78 0.00 0.00 49,621.59 20,543.33 15,344.57
63,906.75 205,352.46 0.00 0.00 49,916.84 20,607.40 15,441.38
64,260.37 206,892.60 0.00 0.00 50,213.85 20,758.82 15,538.80
64,615.94 208,444.29 0.00 0.00 9,836,790.22 20,911.36 15,636.84
64,973.48 210,007.63 0.00 0.00 0.00 21,065.02 15,735.50
65,333.00 211,582.68 0.00 0.00 0.00 21,219.81 15,834.77
65,694.51 213,169.55 0.00 0.00 0.00 21,375.73 15,934.68
66,001.68 214,768.32 0.00 0.00 0.00 21,532.80 16,035.21
66,366.89 216,379.09 0.00 0.00 0.00 21,691.03 16,136.38
66,734.12 218,001.93 0.00 0.00 0.00 21,850.41 16,238.19
67,103.38 219,636.95 0.00 0.00 0.00 22,010.97 16,340.64
67,474.69 221,284.22 0.00 0.00 0.00 22,172.71 16,443.73
67,848.05 222,943.85 0.00 0.00 0.00 22,335.64 16,547.48
68,223.47 224,615.93 0.00 0.00 0.00 22,408.53 16,651.88
68,600.98 226,300.55 0.00 0.00 0.00 22,573.19 16,756.94
68,980.57 227,997.81 0.00 0.00 0.00 22,739.06 16,862.66
69,362.26 229,707.79 0.00 0.00 0.00 22,906.15 16,969.05
69,746.07 231,430.60 0.00 0.00 0.00 23,074.47 17,076.11
70,131.99 233,166.33 0.00 0.00 0.00 23,244.02 17,183.85
70,460.91 234,915.08 0.00 0.00 0.00 23,414.82 17,292.26
70,850.79 236,676.94 0.00 0.00 0.00 23,586.88 17,401.36
71,242.83 238,452.02 0.00 0.00 0.00 23,760.19 17,511.15
71,637.04 240,240.41 0.00 0.00 0.00 23,934.79 17,621.63
72,033.44 242,042.21 0.00 0.00 0.00 24,110.66 17,732.81
72,432.02 243,857.53 0.00 0.00 0.00 24,287.83 17,844.69
72,832.81 245,686.46 0.00 0.00 0.00 24,370.50 17,957.28
73,235.82 247,529.10 0.00 0.00 0.00 24,549.58 18,070.57
73,641.06 249,385.57 0.00 0.00 0.00 24,729.97 18,184.58
74,048.54 251,255.97 0.00 0.00 0.00 24,911.69 18,299.31
74,458.27 253,140.38 0.00 0.00 0.00 25,094.74 18,414.76
74,870.28 255,038.94 0.00 0.00 0.00 25,279.14 18,530.95
75,222.45 256,951.73 0.00 0.00 0.00 25,464.89 20,812.67
75,638.68 258,878.87 0.00 0.00 0.00 25,652.01 20,943.98
76,057.21 260,820.46 0.00 0.00 0.00 25,840.50 21,076.12
76,478.06 262,776.61 0.00 0.00 0.00 26,030.38 21,209.09
76,901.24 264,747.44 0.00 0.00 0.00 26,221.66 21,342.90
77,326.76 266,733.04 0.00 0.00 0.00 26,414.33 21,477.56
77,754.64 268,733.54 0.00 0.00 0.00 26,507.85 21,613.07
78,184.88 270,749.04 0.00 0.00 0.00 33,821.98 21,749.43
78,617.50 272,779.66 0.00 0.00 0.00 34,070.51 21,886.65
79,052.52 274,825.51 0.00 0.00 0.00 34,320.86 22,024.73
79,489.94 276,886.70 0.00 0.00 0.00 34,573.06 22,163.69
<CAPTION>
60 61 62 64 65 66 67
-- -- -- -- -- -- --
PRICE
CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO WILLOW BROOK
VT FL FL TX TX TX TX
- ------------------------------------------------------------------------------------------------------------------------------------
6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------------------------------------------------------------------------------
7.950% 8.760% 8.760% 8.760% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
10,989.40 26,680.81 25,866.08 20,607.74 22,087.72 23,885.82 18,388.49
11,062.20 26,875.58 26,054.90 20,758.18 22,248.96 24,060.18 18,522.72
11,135.49 27,071.78 26,245.10 20,909.71 22,411.37 24,235.82 18,657.94
11,209.26 27,269.40 26,436.69 21,062.35 22,574.98 24,412.74 18,794.14
11,283.52 27,468.47 26,629.68 21,216.11 22,739.78 24,590.96 18,931.34
13,600.05 27,668.99 26,824.07 21,370.99 22,905.78 24,770.47 19,069.54
13,690.15 27,870.97 27,019.89 21,526.99 23,072.99 24,951.30 19,208.75
13,780.85 28,074.43 27,217.13 21,684.14 23,241.42 25,133.44 19,348.97
13,872.14 28,279.37 27,415.82 21,842.44 23,411.08 25,316.91 19,490.22
13,964.05 28,485.81 27,615.95 22,001.89 23,581.98 25,501.73 19,632.50
14,056.56 28,693.76 27,817.55 22,162.50 23,754.13 25,687.89 19,775.81
14,149.68 28,903.22 28,020.62 22,324.29 23,927.54 25,875.41 19,920.18
14,243.42 29,114.21 28,225.17 22,487.25 24,102.21 26,064.30 20,065.60
14,337.79 29,326.75 28,431.21 22,651.41 24,278.15 26,254.57 20,212.07
14,432.77 29,540.83 28,638.76 22,816.76 24,455.39 26,446.23 20,359.62
14,528.39 29,756.48 28,847.82 22,983.33 24,633.91 26,639.29 20,508.25
14,624.64 29,973.70 29,058.41 23,151.11 24,813.74 26,833.75 20,657.96
14,721.53 30,192.51 29,270.54 23,320.11 24,994.88 27,029.64 20,808.76
14,819.06 30,412.92 29,484.21 23,490.35 25,177.34 27,226.96 20,960.66
14,917.24 30,634.93 29,699.45 23,661.82 25,361.13 27,425.71 21,113.68
15,016.06 30,858.57 29,916.26 23,834.56 25,546.27 27,625.92 21,267.81
15,115.55 31,083.83 30,134.64 24,008.55 25,732.76 27,827.59 21,423.06
15,215.69 31,310.75 30,354.63 24,183.81 25,920.61 28,030.73 21,579.45
15,316.49 31,539.31 30,576.22 24,360.35 26,109.83 28,235.36 21,736.98
15,417.96 31,769.55 30,799.42 24,538.18 26,300.43 28,441.47 21,895.66
15,520.11 32,001.47 31,024.26 24,717.31 26,492.42 28,649.10 22,055.50
15,622.93 32,235.08 31,250.73 24,897.75 26,685.82 28,858.24 22,216.50
15,726.43 32,470.40 31,478.87 25,079.50 26,880.62 29,068.90 22,378.68
15,830.62 32,707.43 31,708.66 25,262.58 27,076.85 29,281.10 22,542.05
15,935.49 32,946.19 31,940.13 25,447.00 27,274.51 29,494.86 22,706.61
16,041.07 33,186.70 32,173.30 25,632.76 27,473.62 29,710.17 22,872.36
16,147.34 33,428.96 32,408.16 25,819.88 27,674.17 29,927.05 23,039.33
16,254.31 33,673.00 32,644.74 26,008.37 27,876.20 30,145.52 23,207.52
16,362.00 33,918.81 32,883.05 26,198.23 28,079.69 30,365.58 23,376.93
16,470.40 34,166.42 33,123.09 26,389.47 28,284.67 30,587.25 23,547.59
16,579.51 34,415.83 33,364.89 26,582.12 28,491.15 30,810.54 23,719.48
16,689.35 34,667.07 33,608.46 26,776.17 28,699.14 31,035.46 23,892.64
16,799.92 34,920.14 33,853.80 26,971.63 28,908.64 31,262.01 24,067.05
16,911.22 35,175.05 34,100.93 27,168.53 29,119.67 31,490.23 24,242.74
17,023.26 35,431.83 34,349.87 27,366.86 29,332.25 31,720.11 24,419.71
17,136.04 35,690.48 34,600.62 27,566.63 29,546.37 31,951.66 24,597.98
17,249.56 35,951.02 34,853.21 27,767.87 29,762.06 32,184.91 24,777.54
17,363.84 36,213.47 35,107.64 27,970.58 29,979.33 32,419.86 24,958.42
17,478.88 36,477.82 35,363.92 28,174.76 30,198.17 32,656.52 25,140.62
17,594.67 36,744.11 35,622.08 28,380.44 30,418.62 32,894.92 25,324.14
17,711.24 37,012.34 35,882.12 28,587.61 30,640.68 33,135.05 25,509.01
17,828.57 37,282.53 36,144.06 28,796.30 30,864.35 33,376.94 25,695.22
17,946.69 37,554.70 36,407.91 29,006.52 31,089.66 33,620.59 25,882.80
18,065.59 37,828.85 36,673.69 29,218.26 31,316.62 33,866.02 26,071.74
18,185.27 38,105.00 36,941.41 29,431.56 31,545.23 34,113.24 26,262.07
18,305.75 38,383.16 37,211.08 29,646.41 31,775.51 34,362.27 26,453.78
18,427.02 38,663.36 37,482.72 29,862.83 32,007.47 34,613.11 26,646.89
18,549.10 38,945.60 37,756.34 30,080.83 32,241.13 34,865.79 26,841.41
18,671.99 39,229.91 38,031.96 30,300.42 32,476.49 35,120.31 27,037.36
18,795.69 39,516.28 38,309.60 30,521.61 32,713.56 35,376.68 27,234.73
18,920.21 39,804.75 38,589.26 30,744.42 32,952.37 35,634.93 27,433.54
19,045.56 40,095.33 38,870.96 30,968.85 33,192.93 35,895.07 27,633.81
19,171.74 40,388.02 39,154.72 31,194.92 33,435.23 36,157.10 27,835.54
19,298.75 40,682.86 39,440.55 31,422.65 33,679.31 36,421.05 28,038.73
19,426.60 40,979.84 39,728.46 31,652.03 33,925.17 36,686.92 28,243.42
19,555.30 41,278.99 40,018.48 31,883.09 34,172.82 36,954.74 28,449.59
19,684.86 41,580.33 40,310.62 32,115.84 34,422.29 37,224.51 28,657.28
19,815.27 41,883.87 40,604.88 32,350.28 34,673.57 37,496.25 28,866.47
<CAPTION>
68 69
-- --
RITE AID RITE AID
- --------------------------------------
BRENTWOOD ELK GROVE
CA CA
- --------------------------------------
4,669,039.90 4,072,992.28
- --------------------------------------
6.739% 6.739%
- --------------------------------------
10TH 10TH
- --------------------------------------
<S> <C>
11,352.69 9,903.41
11,416.44 9,959.03
11,480.56 10,014.95
11,545.03 10,071.20
11,609.86 10,127.75
11,675.06 10,184.63
11,740.63 10,241.83
11,806.56 10,299.34
11,872.87 10,357.18
11,939.54 10,415.35
12,006.59 10,473.84
12,074.02 10,532.66
12,141.83 10,591.80
12,210.01 10,651.29
12,278.58 10,711.10
12,347.54 10,771.25
12,416.88 10,831.74
12,486.61 10,892.57
12,556.73 10,953.74
12,627.25 11,015.26
12,698.16 11,077.12
12,769.47 11,139.33
12,841.18 11,201.88
12,913.30 11,264.79
12,985.81 11,328.05
13,058.74 11,391.67
13,132.08 11,455.64
13,205.82 11,519.97
13,279.99 11,584.67
13,354.56 11,649.73
13,429.56 11,715.15
13,504.98 11,780.94
13,580.82 11,847.10
13,657.09 11,913.63
13,733.78 11,980.54
13,810.91 12,047.82
13,888.47 12,115.47
13,966.47 12,183.51
14,044.90 12,251.93
14,123.77 12,320.74
14,203.09 12,389.93
14,282.85 12,459.51
14,363.06 12,529.48
14,443.72 12,599.84
14,524.84 12,670.60
14,606.41 12,741.76
14,688.43 12,813.31
14,770.92 12,885.27
14,853.87 12,957.63
14,937.29 13,030.40
15,021.17 13,103.58
15,105.53 13,177.16
15,190.36 13,251.17
15,275.67 13,325.58
15,361.45 13,400.42
15,447.72 13,475.67
15,534.47 13,551.35
15,621.71 13,627.45
15,709.44 13,703.98
15,797.66 13,780.94
15,886.38 13,858.33
15,975.59 13,936.16
16,065.31 14,014.42
</TABLE>
Page 21
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
53 54 55 56 57 58 59
-- -- -- -- -- -- --
MONROE NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE PRICE
COUNTY, NY WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT CHOPPER
- ------------------------------------------------------------------------------------------------------------------------------------
ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN WALLKILL
NY NY NJ PA PA OH NY
- ------------------------------------------------------------------------------------------------------------------------------------
15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74 5,544,666.27
- ------------------------------------------------------------------------------------------------------------------------------------
6.640% 9.000% 7.400% 7.460% 7.140% 8.817715% 7.571%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
79,929.79 278,963.35 0.00 0.00 0.00 34,827.10 22,303.53
80,306.84 281,055.57 0.00 0.00 0.00 35,083.01 22,444.24
80,751.21 283,163.49 0.00 0.00 0.00 35,340.81 22,585.85
81,198.03 285,287.22 0.00 0.00 0.00 35,600.50 22,728.35
81,647.33 287,426.87 0.00 0.00 0.00 35,862.09 22,871.74
82,099.11 289,582.57 0.00 0.00 0.00 36,125.61 23,016.04
82,553.39 291,754.44 0.00 0.00 0.00 36,391.06 23,161.26
83,010.19 293,942.60 0.00 0.00 0.00 36,552.86 23,307.38
83,469.51 296,147.17 0.00 0.00 0.00 36,821.45 23,454.43
83,931.37 298,368.27 0.00 0.00 0.00 37,092.02 23,602.41
84,395.79 300,606.04 0.00 0.00 0.00 37,364.58 23,751.32
84,862.79 302,860.58 0.00 0.00 0.00 37,639.13 23,901.17
85,332.36 305,132.04 0.00 0.00 0.00 37,915.71 24,051.97
85,736.05 307,420.53 0.00 0.00 0.00 38,194.32 24,203.72
86,210.46 309,726.18 0.00 0.00 0.00 38,474.97 24,356.42
86,687.49 312,049.13 0.00 0.00 0.00 38,757.69 24,510.09
87,167.16 314,389.49 0.00 0.00 0.00 39,042.49 24,664.73
87,649.48 316,747.42 0.00 0.00 0.00 39,329.38 24,820.35
88,134.48 319,123.02 0.00 0.00 0.00 39,618.37 24,976.94
88,622.16 321,516.44 0.00 0.00 0.00 39,798.60 25,134.52
89,112.53 323,927.82 0.00 0.00 0.00 40,091.04 25,293.10
89,605.62 326,357.28 0.00 0.00 0.00 40,385.64 25,452.68
90,101.44 328,804.96 0.00 0.00 0.00 40,682.40 25,613.27
90,600.00 331,270.99 0.00 0.00 0.00 40,981.33 25,774.86
91,101.32 333,755.53 0.00 0.00 0.00 41,282.47 25,937.48
91,533.51 336,258.69 0.00 0.00 0.00 41,585.82 26,101.13
92,040.00 338,780.63 0.00 0.00 0.00 41,891.39 26,265.80
92,549.29 341,321.49 0.00 0.00 0.00 42,199.21 26,431.52
93,061.39 343,881.40 0.00 0.00 0.00 42,509.30 26,598.28
93,576.33 346,460.51 0.00 0.00 0.00 42,821.66 26,766.09
94,094.12 349,058.96 0.00 0.00 0.00 43,136.32 26,934.96
94,614.78 351,676.90 0.00 0.00 0.00 43,336.85 27,104.90
95,138.31 354,314.48 0.00 0.00 0.00 43,655.29 27,275.91
95,664.74 356,971.84 0.00 0.00 0.00 43,976.07 27,448.00
96,194.09 359,649.13 0.00 0.00 0.00 44,299.21 27,621.17
96,726.36 362,346.50 0.00 0.00 0.00 44,624.73 27,795.44
97,261.58 365,064.10 0.00 0.00 0.00 44,952.64 27,970.80
97,724.26 367,802.08 0.00 0.00 0.00 45,282.95 28,147.28
98,265.00 370,560.59 0.00 0.00 0.00 45,615.70 28,324.86
98,808.74 373,339.80 0.00 0.00 0.00 45,950.88 28,503.57
99,355.48 376,139.84 0.00 0.00 0.00 46,288.54 28,683.40
99,905.25 378,960.89 0.00 0.00 0.00 46,628.67 28,864.37
100,458.05 381,803.10 0.00 0.00 0.00 46,971.30 29,046.48
101,013.92 384,666.62 0.00 0.00 0.00 47,194.19 29,229.74
101,572.87 387,551.62 0.00 0.00 0.00 47,540.98 29,414.16
102,134.90 390,458.26 0.00 0.00 0.00 47,890.31 29,599.74
102,700.05 393,386.70 0.00 0.00 0.00 48,242.22 29,786.48
103,268.32 396,337.10 0.00 0.00 0.00 48,596.70 29,974.41
103,839.74 399,309.63 0.00 0.00 0.00 48,953.80 30,163.53
104,335.05 402,304.45 0.00 0.00 0.00 49,313.51 32,626.88
104,912.37 405,321.73 0.00 0.00 0.00 49,675.88 32,832.73
105,492.89 408,361.64 0.00 0.00 0.00 50,040.90 33,039.88
106,076.61 411,424.36 0.00 0.00 0.00 50,408.60 33,248.33
106,663.57 414,510.04 0.00 0.00 0.00 50,779.01 33,458.10
107,253.78 417,616.72 0.00 0.00 0.00 51,152.14 33,669.19
107,847.25 0.00 0.00 0.00 0.00 51,399.64 33,881.62
108,444.00 0.00 0.00 0.00 0.00 0.00 34,095.38
109,044.06 0.00 0.00 0.00 0.00 0.00 34,310.50
109,647.44 0.00 0.00 0.00 0.00 0.00 34,526.97
110,254.15 0.00 0.00 0.00 0.00 0.00 34,744.80
110,864.22 0.00 0.00 0.00 0.00 0.00 34,964.02
111,394.43 0.00 0.00 0.00 0.00 0.00 35,184.61
112,010.82 0.00 0.00 0.00 0.00 0.00 35,406.59
<CAPTION>
60 61 62 64 65 66 67
-- -- -- -- -- -- --
PRICE
CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO WILLOW BROOK
VT FL FL TX TX TX TX
- ------------------------------------------------------------------------------------------------------------------------------------
6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------------------------------------------------------------------------------
7.950% 8.760% 8.760% 8.760% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,946.55 42,189.62 40,901.30 32,586.44 34,926.69 37,769.97 29,077.20
20,078.69 42,497.60 41,199.88 32,824.32 35,181.65 38,045.69 29,289.46
22,453.48 42,807.84 41,500.64 33,063.94 35,438.48 38,323.42 29,503.28
22,602.24 43,120.33 41,803.59 33,305.31 35,697.18 38,603.18 29,718.65
22,751.98 43,435.11 42,108.76 33,548.43 35,957.77 38,884.99 29,935.60
22,902.71 43,752.19 42,416.15 33,793.34 36,220.26 39,168.85 30,154.13
23,054.44 44,071.58 42,725.79 34,040.03 36,484.67 39,454.78 30,374.25
23,207.18 44,393.30 43,037.69 34,288.52 36,751.00 39,742.80 30,595.98
23,360.92 44,717.37 43,351.86 34,538.83 37,019.29 40,032.92 30,819.33
23,515.69 45,043.81 43,668.33 34,790.96 37,289.53 40,325.16 31,044.32
23,671.48 45,372.63 43,987.11 35,044.94 37,561.74 40,619.54 31,270.94
23,828.31 45,703.85 44,308.22 35,300.76 37,835.94 40,916.06 31,499.22
23,986.17 46,037.49 44,631.67 35,558.46 38,112.14 41,214.75 31,729.16
24,145.08 46,373.56 44,957.48 35,818.04 38,390.36 41,515.62 31,960.78
24,305.04 46,712.09 45,285.67 36,079.51 38,670.61 41,818.68 32,194.10
24,466.06 47,053.09 45,616.25 36,342.89 38,952.91 42,123.96 32,429.11
24,628.15 47,396.57 45,949.25 36,608.19 39,237.26 42,431.46 32,665.85
24,791.31 47,742.57 46,284.68 36,875.43 39,523.70 42,741.21 32,904.31
24,955.55 48,091.09 46,622.56 37,144.62 39,812.22 43,053.22 33,144.51
25,120.88 48,442.15 46,962.90 37,415.78 40,102.85 43,367.51 33,386.46
25,287.31 48,795.78 47,305.73 37,688.91 40,395.60 43,684.09 33,630.19
25,454.83 49,151.99 47,651.06 37,964.04 40,690.49 44,002.99 33,875.69
25,623.47 49,510.80 47,998.92 38,241.18 40,987.53 44,324.21 34,122.98
25,793.23 49,872.23 48,349.31 38,520.34 41,286.74 44,647.77 34,372.08
25,964.11 50,236.30 48,702.26 38,801.54 41,588.13 44,973.70 34,622.99
26,136.12 50,603.02 49,057.79 39,084.79 41,891.72 45,302.01 34,875.74
26,309.27 50,972.42 49,415.91 39,370.11 42,197.53 45,632.72 35,130.33
26,483.57 51,344.52 49,776.64 39,657.51 42,505.57 45,965.83 35,386.78
26,659.02 51,719.34 50,140.01 39,947.01 42,815.86 46,301.39 35,645.11
26,835.64 52,096.89 50,506.04 40,238.62 43,128.42 46,639.39 35,905.32
27,013.43 52,477.20 50,874.73 40,532.37 43,443.26 46,979.85 36,167.43
27,192.39 52,860.28 51,246.11 40,828.25 43,760.39 47,322.81 36,431.45
27,372.54 53,246.16 51,620.21 41,126.30 44,079.84 47,668.26 36,697.40
27,553.88 53,634.86 51,997.04 41,426.52 44,401.63 48,016.24 36,965.29
27,736.43 54,026.39 52,376.62 41,728.93 44,725.76 48,366.76 37,235.14
27,920.18 54,420.78 52,758.97 42,033.55 45,052.26 48,719.84 37,506.95
28,105.15 54,818.06 53,144.11 42,340.40 45,381.14 49,075.49 37,780.75
28,291.35 55,218.23 53,532.06 42,649.48 45,712.42 49,433.74 38,056.55
28,478.78 55,621.32 53,922.84 42,960.83 46,046.12 49,794.61 38,334.36
28,667.45 56,027.36 54,316.48 43,274.44 46,382.26 50,158.11 38,614.21
28,857.37 56,436.36 54,712.99 43,590.34 46,720.85 50,524.26 38,896.09
29,048.55 56,848.34 55,112.39 43,908.55 47,061.91 50,893.09 39,180.03
29,241.00 57,263.33 55,514.72 44,229.09 47,405.46 51,264.61 39,466.04
29,434.72 57,681.36 55,919.97 44,551.96 47,751.52 51,638.84 39,754.15
29,629.73 58,102.43 56,328.19 44,877.19 48,100.11 52,015.81 40,044.35
29,826.02 58,526.58 56,739.38 45,204.79 48,451.24 52,395.52 40,336.68
30,023.62 58,953.82 57,153.58 45,534.79 48,804.93 52,778.01 40,631.13
30,222.53 59,384.19 57,570.80 45,867.19 49,161.21 53,163.29 40,927.74
30,422.75 59,817.69 57,991.07 46,202.02 49,520.09 53,551.38 41,226.51
30,624.30 60,254.36 58,414.40 46,539.29 49,881.58 53,942.30 41,527.47
30,827.19 60,694.22 58,840.83 46,879.03 50,245.72 54,336.08 41,830.62
31,031.42 61,137.28 59,270.37 47,221.25 50,612.51 54,732.74 42,135.98
31,237.00 61,583.59 59,703.04 47,565.96 50,981.98 55,132.29 42,443.57
31,443.95 62,033.15 60,138.87 47,913.19 51,354.15 55,534.75 42,753.41
31,652.26 62,485.99 60,577.89 48,262.96 51,729.04 55,940.16 43,065.51
31,861.96 62,942.14 61,020.11 48,615.28 52,106.66 56,348.52 43,379.89
32,073.05 63,401.61 61,465.55 48,970.17 52,487.04 56,759.86 43,696.56
32,285.53 63,864.44 61,914.25 49,327.65 52,870.19 57,174.21 44,015.55
32,499.42 64,330.66 62,366.23 49,687.75 53,256.15 57,591.58 44,336.86
32,714.73 64,800.27 62,821.50 50,050.47 53,644.92 58,012.00 44,660.52
32,931.46 65,273.31 63,280.10 50,415.84 54,036.52 58,435.49 44,986.54
33,149.64 65,749.81 63,742.04 50,783.87 54,430.99 58,862.07 45,314.94
35,611.02 66,229.78 64,207.36 51,154.59 54,828.34 59,291.76 45,645.74
<CAPTION>
68 69
-- --
RITE AID RITE AID
- --------------------------------------
BRENTWOOD ELK GROVE
CA CA
- --------------------------------------
4,669,039.90 4,072,992.28
- --------------------------------------
6.739% 6.739%
- --------------------------------------
10TH 10TH
- --------------------------------------
<S> <C>
16,155.53 14,093.12
16,246.26 14,172.27
16,337.49 14,251.86
16,429.24 14,331.89
16,521.51 14,412.38
16,614.29 14,493.31
16,707.59 14,574.71
16,801.42 14,656.56
16,895.77 14,738.86
16,990.66 14,821.64
17,086.07 14,904.87
17,182.02 14,988.57
17,278.52 15,072.75
17,375.55 15,157.39
17,473.13 15,242.52
17,571.25 15,328.12
17,669.93 15,414.20
17,769.16 15,500.76
17,868.95 15,587.81
17,969.30 15,675.35
18,070.21 15,763.38
18,171.69 15,851.90
18,273.74 15,940.92
18,376.36 16,030.44
18,479.56 16,120.47
18,583.34 16,211.00
18,687.70 16,302.04
18,792.65 16,393.59
18,898.18 16,485.65
19,004.31 16,578.23
19,111.04 16,671.33
19,218.36 16,764.96
19,326.29 16,859.10
19,434.82 16,953.78
19,543.97 17,048.99
19,653.72 17,144.74
19,764.09 17,241.02
19,875.09 17,337.84
19,986.70 17,435.21
20,098.94 17,533.12
20,211.81 17,631.58
20,325.32 17,730.60
20,439.46 17,830.17
20,554.25 17,930.30
20,669.68 18,031.00
20,785.76 18,132.26
20,902.49 18,234.08
21,019.87 18,336.48
21,137.91 18,439.46
21,256.62 18,543.01
21,376.00 18,647.14
21,496.04 18,751.86
21,616.76 18,857.17
21,738.15 18,963.07
21,860.23 19,069.56
21,982.99 19,176.66
22,106.45 19,284.35
22,230.59 19,392.65
22,355.44 19,501.55
22,480.98 19,611.07
22,607.23 19,721.20
22,734.19 19,831.95
22,861.86 19,943.33
</TABLE>
Page 22
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
53 54 55 56 57 58 59
-- -- -- -- -- -- --
MONROE NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE PRICE
COUNTY, NY WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT CHOPPER
- ------------------------------------------------------------------------------------------------------------------------------------
ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN WALLKILL
NY NY NJ PA PA OH NY
- ------------------------------------------------------------------------------------------------------------------------------------
15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74 5,544,666.27
- ------------------------------------------------------------------------------------------------------------------------------------
6.640% 9.000% 7.400% 7.460% 7.140% 8.817715% 7.571%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
112,630.61 0.00 0.00 0.00 0.00 0.00 35,629.98
113,253.83 0.00 0.00 0.00 0.00 0.00 35,854.78
113,880.50 0.00 0.00 0.00 0.00 0.00 36,080.99
114,510.64 0.00 0.00 0.00 0.00 0.00 36,308.63
115,144.27 0.00 0.00 0.00 0.00 0.00 36,537.71
115,781.40 0.00 0.00 0.00 0.00 0.00 36,768.23
116,422.06 0.00 0.00 0.00 0.00 0.00 37,000.21
117,066.26 0.00 0.00 0.00 0.00 0.00 37,233.65
117,714.02 0.00 0.00 0.00 0.00 0.00 37,468.56
118,365.39 0.00 0.00 0.00 0.00 0.00 37,704.96
0.00 0.00 0.00 0.00 0.00 0.00 37,942.84
0.00 0.00 0.00 0.00 0.00 0.00 38,182.23
0.00 0.00 0.00 0.00 0.00 0.00 38,423.13
0.00 0.00 0.00 0.00 0.00 0.00 38,665.55
0.00 0.00 0.00 0.00 0.00 0.00 38,909.49
0.00 0.00 0.00 0.00 0.00 0.00 39,154.98
0.00 0.00 0.00 0.00 0.00 0.00 39,402.02
0.00 0.00 0.00 0.00 0.00 0.00 39,650.61
0.00 0.00 0.00 0.00 0.00 0.00 39,900.77
0.00 0.00 0.00 0.00 0.00 0.00 40,152.51
0.00 0.00 0.00 0.00 0.00 0.00 40,405.84
0.00 0.00 0.00 0.00 0.00 0.00 40,660.77
0.00 0.00 0.00 0.00 0.00 0.00 40,917.30
0.00 0.00 0.00 0.00 0.00 0.00 41,175.46
0.00 0.00 0.00 0.00 0.00 0.00 41,435.24
0.00 0.00 0.00 0.00 0.00 0.00 41,696.66
0.00 0.00 0.00 0.00 0.00 0.00 41,959.73
0.00 0.00 0.00 0.00 0.00 0.00 42,224.47
0.00 0.00 0.00 0.00 0.00 0.00 42,490.87
0.00 0.00 0.00 0.00 0.00 0.00 42,758.95
0.00 0.00 0.00 0.00 0.00 0.00 43,028.72
0.00 0.00 0.00 0.00 0.00 0.00 43,300.20
0.00 0.00 0.00 0.00 0.00 0.00 43,573.39
0.00 0.00 0.00 0.00 0.00 0.00 43,848.30
0.00 0.00 0.00 0.00 0.00 0.00 44,124.94
0.00 0.00 0.00 0.00 0.00 0.00 44,403.34
0.00 0.00 0.00 0.00 0.00 0.00 44,683.48
0.00 0.00 0.00 0.00 0.00 0.00 44,965.40
0.00 0.00 0.00 0.00 0.00 0.00 45,249.09
0.00 0.00 0.00 0.00 0.00 0.00 45,534.58
0.00 0.00 0.00 0.00 0.00 0.00 45,821.86
0.00 0.00 0.00 0.00 0.00 0.00 46,110.96
0.00 0.00 0.00 0.00 0.00 0.00 46,401.88
0.00 0.00 0.00 0.00 0.00 0.00 46,694.64
0.00 0.00 0.00 0.00 0.00 0.00 46,989.24
0.00 0.00 0.00 0.00 0.00 0.00 47,285.73
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
60 61 62 64 65 66 67
-- -- -- -- -- -- --
PRICE
CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO WILLOW BROOK
VT FL FL TX TX TX TX
- ------------------------------------------------------------------------------------------------------------------------------------
6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------------------------------------------------------------------------------
7.950% 8.760% 8.760% 8.760% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
35,846.94 66,713.26 64,676.07 51,528.02 55,228.58 59,724.59 45,978.96
36,084.43 67,200.26 65,148.21 51,904.18 55,631.75 60,160.58 46,314.60
36,323.49 67,690.83 65,623.79 52,283.08 56,037.86 60,599.75 46,652.70
36,564.13 68,184.97 66,102.84 52,664.74 56,446.94 61,042.13 46,993.26
36,806.37 68,682.72 66,585.39 53,049.20 56,859.00 61,487.74 47,336.32
37,050.21 69,184.10 67,071.47 53,436.45 57,274.07 61,936.60 47,681.87
37,295.67 69,689.15 67,561.09 53,826.54 57,692.17 62,388.73 48,029.95
37,542.75 70,197.88 68,054.28 54,219.47 58,113.33 62,844.17 48,380.57
37,791.48 70,710.32 68,551.08 54,615.28 58,537.56 63,302.94 48,733.75
38,041.84 71,226.51 69,051.50 55,013.97 58,964.88 63,765.05 49,089.50
38,293.87 71,746.46 69,555.58 55,415.57 59,395.32 64,230.53 49,447.86
38,547.57 72,270.21 70,063.33 55,820.10 59,828.91 64,699.41 49,808.82
38,802.95 72,797.78 70,574.80 56,227.59 60,265.66 65,171.72 50,172.43
39,060.01 73,329.24 71,089.98 56,638.04 60,705.61 65,647.47 50,538.69
39,318.79 0.00 0.00 0.00 0.00 0.00 0.00
39,579.27 0.00 0.00 0.00 0.00 0.00 0.00
39,841.49 0.00 0.00 0.00 0.00 0.00 0.00
40,105.44 0.00 0.00 0.00 0.00 0.00 0.00
40,371.14 0.00 0.00 0.00 0.00 0.00 0.00
40,638.59 0.00 0.00 0.00 0.00 0.00 0.00
40,907.83 0.00 0.00 0.00 0.00 0.00 0.00
41,178.84 0.00 0.00 0.00 0.00 0.00 0.00
41,451.65 0.00 0.00 0.00 0.00 0.00 0.00
41,726.27 0.00 0.00 0.00 0.00 0.00 0.00
42,002.70 0.00 0.00 0.00 0.00 0.00 0.00
42,280.97 0.00 0.00 0.00 0.00 0.00 0.00
42,561.08 0.00 0.00 0.00 0.00 0.00 0.00
42,843.05 0.00 0.00 0.00 0.00 0.00 0.00
43,126.88 0.00 0.00 0.00 0.00 0.00 0.00
43,412.60 0.00 0.00 0.00 0.00 0.00 0.00
43,700.21 0.00 0.00 0.00 0.00 0.00 0.00
43,989.72 0.00 0.00 0.00 0.00 0.00 0.00
44,281.15 0.00 0.00 0.00 0.00 0.00 0.00
44,574.52 0.00 0.00 0.00 0.00 0.00 0.00
44,869.82 0.00 0.00 0.00 0.00 0.00 0.00
45,167.09 0.00 0.00 0.00 0.00 0.00 0.00
45,466.32 0.00 0.00 0.00 0.00 0.00 0.00
45,767.53 0.00 0.00 0.00 0.00 0.00 0.00
46,070.74 0.00 0.00 0.00 0.00 0.00 0.00
46,375.96 0.00 0.00 0.00 0.00 0.00 0.00
46,683.20 0.00 0.00 0.00 0.00 0.00 0.00
46,992.48 0.00 0.00 0.00 0.00 0.00 0.00
47,303.80 0.00 0.00 0.00 0.00 0.00 0.00
47,617.19 0.00 0.00 0.00 0.00 0.00 0.00
47,932.65 0.00 0.00 0.00 0.00 0.00 0.00
48,250.21 0.00 0.00 0.00 0.00 0.00 0.00
48,569.87 0.00 0.00 0.00 0.00 0.00 0.00
48,891.64 0.00 0.00 0.00 0.00 0.00 0.00
49,215.55 0.00 0.00 0.00 0.00 0.00 0.00
49,541.60 0.00 0.00 0.00 0.00 0.00 0.00
49,869.81 0.00 0.00 0.00 0.00 0.00 0.00
50,200.20 0.00 0.00 0.00 0.00 0.00 0.00
50,532.78 0.00 0.00 0.00 0.00 0.00 0.00
50,867.56 0.00 0.00 0.00 0.00 0.00 0.00
51,204.56 0.00 0.00 0.00 0.00 0.00 0.00
51,543.79 0.00 0.00 0.00 0.00 0.00 0.00
51,885.26 0.00 0.00 0.00 0.00 0.00 0.00
52,229.00 0.00 0.00 0.00 0.00 0.00 0.00
52,575.04 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
68 69
-- --
RITE AID RITE AID
- --------------------------------------
BRENTWOOD ELK GROVE
CA CA
- --------------------------------------
4,669,039.90 4,072,992.28
- --------------------------------------
6.739% 6.739%
- --------------------------------------
10TH 10TH
- --------------------------------------
<S> <C>
22,990.25 20,055.32
23,119.36 20,167.95
23,249.19 20,281.21
23,379.76 20,395.11
23,511.05 20,509.64
23,643.09 20,624.82
23,775.86 20,740.65
23,909.38 20,857.12
24,043.66 20,974.25
24,178.68 21,092.04
24,314.46 21,210.49
24,451.01 21,329.60
24,588.32 21,449.39
24,726.41 21,569.84
24,865.27 21,690.98
25,004.91 21,812.79
25,145.33 21,935.29
25,286.54 22,058.47
25,428.55 22,182.35
25,571.35 22,306.92
25,714.95 22,432.19
25,859.36 22,558.17
26,004.59 22,684.85
26,150.62 22,812.25
1,078,126.66 940,493.46
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
</TABLE>
Page 23
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
53 54 55 56 57 58 59
-- -- -- -- -- -- --
MONROE NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE PRICE
COUNTY, NY WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT CHOPPER
- ------------------------------------------------------------------------------------------------------------------------------------
ROCHESTER WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN WALLKILL
NY NY NJ PA PA OH NY
- ------------------------------------------------------------------------------------------------------------------------------------
15,884,013.95 45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74 5,544,666.27
- ------------------------------------------------------------------------------------------------------------------------------------
6.640% 9.000% 7.400% 7.460% 7.140% 8.817715% 7.571%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
60 61 62 64 65 66 67
-- -- -- -- -- -- --
PRICE
CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ------------------------------------------------------------------------------------------------------------------------------------
ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO WILLOW BROOK
VT FL FL TX TX TX TX
- ------------------------------------------------------------------------------------------------------------------------------------
6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71 5,841,894.12
- ------------------------------------------------------------------------------------------------------------------------------------
7.950% 8.760% 8.760% 8.760% 8.760% 8.760% 8.760%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
68 69
-- --
RITE AID RITE AID
- --------------------------------------
BRENTWOOD ELK GROVE
CA CA
- --------------------------------------
4,669,039.90 4,072,992.28
- --------------------------------------
6.739% 6.739%
- --------------------------------------
10TH 10TH
- --------------------------------------
<S> <C>
0.00 0.00
</TABLE>
Page 24
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
70 74 75 76 77 78 79
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON SALYERSVILLE MADISON HGTS.
CA CA CT ID KY KY MI
- -----------------------------------------------------------------------------------------------------------------------------------
3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43 2,066,298.88 2,831,226.53
- -----------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,305.10 4,435.56 3,783.27 5,218.31 3,000.53 2,713.52 3,718.04
4,329.28 4,460.47 3,804.52 5,247.61 3,017.38 2,728.76 3,738.92
4,353.59 4,485.52 3,825.88 5,277.08 3,034.32 2,744.08 3,759.92
4,378.04 4,510.71 3,847.37 5,306.72 3,051.36 2,759.49 3,781.04
4,402.63 4,536.04 3,868.98 5,336.52 3,068.50 2,774.99 3,802.27
4,427.35 4,561.51 3,890.70 5,366.49 3,085.73 2,790.57 3,823.62
4,452.22 4,587.13 3,912.55 5,396.62 3,103.06 2,806.25 3,845.10
4,477.22 4,612.89 3,934.53 5,426.93 3,120.49 2,822.00 3,866.69
4,502.36 4,638.80 3,956.62 5,457.41 3,138.01 2,837.85 3,888.40
4,527.65 4,664.85 3,978.84 5,488.06 3,155.63 2,853.79 3,910.24
4,553.07 4,691.04 4,001.18 5,518.88 3,173.35 2,869.82 3,932.20
4,578.64 4,717.39 4,023.65 5,549.87 3,191.17 2,885.93 3,954.28
4,604.36 4,743.88 4,046.25 5,581.04 3,209.10 2,902.14 3,976.49
4,630.21 4,770.52 4,068.97 5,612.38 3,227.12 2,918.44 3,998.82
4,656.22 4,797.31 4,091.82 5,643.90 3,245.24 2,934.83 4,021.28
4,682.36 4,824.25 4,114.80 5,675.59 3,263.47 2,951.31 4,043.86
4,708.66 4,851.35 4,137.91 5,707.46 3,281.79 2,967.88 4,066.57
4,735.10 4,878.59 4,161.15 5,739.52 3,300.22 2,984.55 4,089.41
4,761.69 4,905.99 4,184.52 5,771.75 3,318.76 3,001.31 4,112.37
4,788.43 4,933.54 4,208.02 5,804.16 3,337.39 3,018.16 4,135.47
4,815.33 4,961.24 4,231.65 5,836.76 3,356.14 3,035.11 4,158.69
4,842.37 4,989.11 4,255.41 5,869.54 3,374.98 3,052.16 4,182.04
4,869.56 5,017.12 4,279.31 5,902.50 3,393.94 3,069.30 4,205.53
4,896.91 5,045.30 4,303.34 5,935.65 3,413.00 3,086.54 4,229.15
4,924.41 5,073.63 4,327.51 5,968.98 3,432.16 3,103.87 4,252.90
4,952.06 5,102.13 4,351.81 6,002.50 3,451.44 3,121.30 4,276.78
4,979.87 5,130.78 4,376.25 6,036.21 3,470.82 3,138.83 4,300.80
5,007.84 5,159.59 4,400.83 6,070.11 3,490.31 3,156.46 4,324.95
5,035.96 5,188.57 4,425.54 6,104.20 3,509.91 3,174.18 4,349.24
5,064.24 5,217.71 4,450.40 6,138.48 3,529.62 3,192.01 4,373.66
5,092.68 5,247.01 4,475.39 6,172.95 3,549.45 3,209.93 4,398.23
5,121.28 5,276.47 4,500.52 6,207.62 3,569.38 3,227.96 4,422.93
5,150.04 5,306.10 4,525.80 6,242.48 3,589.42 3,246.09 4,447.76
5,178.97 5,335.90 4,551.21 6,277.53 3,609.58 3,264.32 4,472.74
5,208.05 5,365.87 4,576.77 6,312.79 3,629.85 3,282.65 4,497.86
5,237.30 5,396.00 4,602.47 6,348.24 3,650.24 3,301.08 4,523.12
5,266.71 5,426.31 4,628.32 6,383.89 3,670.74 3,319.62 4,548.52
5,296.29 5,456.78 4,654.31 6,419.74 3,691.35 3,338.26 4,574.06
5,326.03 5,487.42 4,680.45 6,455.79 3,712.08 3,357.01 4,599.75
5,355.94 5,518.24 4,706.73 6,492.05 3,732.93 3,375.86 4,625.58
5,386.02 5,549.23 4,733.17 6,528.50 3,753.89 3,394.82 4,651.56
5,416.26 5,580.39 4,759.75 6,565.17 3,774.97 3,413.89 4,677.68
5,446.68 5,611.73 4,786.48 6,602.04 3,796.17 3,433.06 4,703.95
5,477.27 5,643.25 4,813.36 6,639.11 3,817.49 3,452.34 4,730.37
5,508.03 5,674.94 4,840.39 6,676.40 3,838.93 3,471.73 4,756.93
5,538.96 5,706.81 4,867.57 6,713.89 3,860.49 3,491.22 4,783.65
5,570.07 5,738.86 4,894.91 6,751.59 3,882.17 3,510.83 4,810.51
<CAPTION>
80 81 82 83 84 85 86
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------------------
MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL
NH NH NJ NV NY NY NY
- -------------------------------------------------------------------------------------------------------------------------------
2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98
- -------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2,674.38 3,065.76 5,609.68 6,522.88 4,696.48 4,044.19 3,196.21
2,689.40 3,082.97 5,641.18 6,559.51 4,722.85 4,066.90 3,214.16
2,704.50 3,100.29 5,672.86 6,596.35 4,749.37 4,089.74 3,232.21
2,719.69 3,117.70 5,704.72 6,633.39 4,776.04 4,112.70 3,250.36
2,734.96 3,135.20 5,736.76 6,670.65 4,802.87 4,135.80 3,268.62
2,750.32 3,152.81 5,768.97 6,708.11 4,829.84 4,159.03 3,286.97
2,765.77 3,170.52 5,801.37 6,745.78 4,856.96 4,182.38 3,305.43
2,781.30 3,188.32 5,833.95 6,783.66 4,884.24 4,205.87 3,323.99
2,796.92 3,206.23 5,866.71 6,821.76 4,911.67 4,229.49 3,342.66
2,812.63 3,224.23 5,899.66 6,860.07 4,939.25 4,253.24 3,361.43
2,828.42 3,242.34 5,932.79 6,898.59 4,966.99 4,277.13 3,380.31
2,844.31 3,260.55 5,966.11 6,937.33 4,994.88 4,301.15 3,399.29
2,860.28 3,278.86 5,999.61 6,976.29 5,022.93 4,325.30 3,418.38
2,876.34 3,297.27 6,033.31 7,015.47 5,051.14 4,349.59 3,437.58
2,892.50 3,315.79 6,067.19 7,054.87 5,079.51 4,374.02 3,456.89
2,908.74 3,334.41 6,101.26 7,094.49 5,108.03 4,398.58 3,476.30
2,925.07 3,353.14 6,135.52 7,134.33 5,136.72 4,423.28 3,495.82
2,941.50 3,371.97 6,169.98 7,174.39 5,165.56 4,448.12 3,515.45
2,958.02 3,390.90 6,204.63 7,214.69 5,194.57 4,473.10 3,535.20
2,974.63 3,409.95 6,239.47 7,255.20 5,223.75 4,498.23 3,555.05
2,991.34 3,429.09 6,274.51 7,295.95 5,253.08 4,523.49 3,575.01
3,008.14 3,448.35 6,309.75 7,336.92 5,282.58 4,548.89 3,595.09
3,025.03 3,467.72 6,345.18 7,378.12 5,312.25 4,574.44 3,615.28
3,042.02 3,487.19 6,380.82 7,419.56 5,342.08 4,600.12 3,635.58
3,059.10 3,506.78 6,416.65 7,461.22 5,372.08 4,625.96 3,656.00
3,076.28 3,526.47 6,452.69 7,503.12 5,402.25 4,651.94 3,676.53
3,093.56 3,546.27 6,488.92 7,545.26 5,432.59 4,678.06 3,697.18
3,110.93 3,566.19 6,525.36 7,587.63 5,463.10 4,704.33 3,717.94
3,128.40 3,586.22 6,562.01 7,630.24 5,493.78 4,730.75 3,738.82
3,145.97 3,606.35 6,598.86 7,673.09 5,524.63 4,757.32 3,759.82
3,163.64 3,626.61 6,635.92 7,716.18 5,555.65 4,784.03 3,780.93
3,181.40 3,646.97 6,673.19 7,759.52 5,586.85 4,810.90 3,802.16
3,199.27 3,667.45 6,710.66 7,803.09 5,618.23 4,837.92 3,823.52
3,217.23 3,688.05 6,748.35 7,846.91 5,649.78 4,865.09 3,844.99
3,235.30 3,708.76 6,786.24 7,890.98 5,681.51 4,892.41 3,866.58
3,253.47 3,729.59 6,824.35 7,935.30 5,713.41 4,919.88 3,888.30
3,271.74 3,750.53 6,862.68 7,979.86 5,745.50 4,947.51 3,910.13
3,290.12 3,771.60 6,901.22 8,024.67 5,777.76 4,975.30 3,932.09
3,308.59 3,792.78 6,939.97 8,069.74 5,810.21 5,003.24 3,954.17
3,327.17 3,814.08 6,978.95 8,115.06 5,842.84 5,031.33 3,976.38
3,345.86 3,835.50 7,018.14 8,160.63 5,875.65 5,059.59 3,998.71
3,364.65 3,857.04 7,057.55 8,206.46 5,908.65 5,088.00 4,021.16
3,383.54 3,878.70 7,097.19 8,252.54 5,941.83 5,116.58 4,043.75
3,402.54 3,900.48 7,137.04 8,298.89 5,975.20 5,145.31 4,066.46
3,421.65 3,922.38 7,177.13 8,345.49 6,008.76 5,174.21 4,089.29
3,440.87 3,944.41 7,217.43 8,392.36 6,042.50 5,203.26 4,112.26
3,460.19 3,966.56 7,257.96 8,439.49 6,076.43 5,232.48 4,135.35
<CAPTION>
87 88 89
-- -- --
RITE AID RITE AID RITE AID
- ---------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND
NY NY OH
- ---------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50
- ---------------------------------------------------------
6.739% 6.739% 6.739%
- ---------------------------------------------------------
10TH 10TH 10TH
- ---------------------------------------------------------
<S> <C> <C>
2,478.70 2,739.61 3,424.51
2,492.62 2,755.00 3,443.75
2,506.61 2,770.47 3,463.08
2,520.69 2,786.03 3,482.53
2,534.85 2,801.67 3,502.09
2,549.08 2,817.41 3,521.76
2,563.40 2,833.23 3,541.53
2,577.79 2,849.14 3,561.42
2,592.27 2,865.14 3,581.42
2,606.83 2,881.23 3,601.54
2,621.47 2,897.41 3,621.76
2,636.19 2,913.68 3,642.10
2,650.99 2,930.04 3,662.55
2,665.88 2,946.50 3,683.12
2,680.85 2,963.05 3,703.81
2,695.91 2,979.69 3,724.61
2,711.05 2,996.42 3,745.52
2,726.27 3,013.25 3,766.56
2,741.58 3,030.17 3,787.71
2,756.98 3,047.19 3,808.98
2,772.46 3,064.30 3,830.37
2,788.03 3,081.51 3,851.88
2,803.69 3,098.81 3,873.51
2,819.43 3,116.21 3,895.27
2,835.26 3,133.71 3,917.14
2,851.19 3,151.31 3,939.14
2,867.20 3,169.01 3,961.26
2,883.30 3,186.81 3,983.51
2,899.49 3,204.70 4,005.88
2,915.78 3,222.70 4,028.37
2,932.15 3,240.80 4,051.00
2,948.62 3,259.00 4,073.75
2,965.18 3,277.30 4,096.62
2,981.83 3,295.71 4,119.63
2,998.57 3,314.21 4,142.77
3,015.41 3,332.83 4,166.03
3,032.35 3,351.54 4,189.43
3,049.38 3,370.36 4,212.95
3,066.50 3,389.29 4,236.61
3,083.72 3,408.33 4,260.41
3,101.04 3,427.47 4,284.33
3,118.45 3,446.71 4,308.39
3,135.97 3,466.07 4,332.59
3,153.58 3,485.53 4,356.92
3,171.29 3,505.11 4,381.39
3,189.10 3,524.79 4,405.99
3,207.01 3,544.59 4,430.73
</TABLE>
Page 25
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
70 74 75 76 77 78 79
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------------------------------------------
NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON SALYERSVILLE MADISON HGTS.
CA CA CT ID KY KY MI
- ---------------------------------------------------------------------------------------------------------------------------------
3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43 2,066,298.88 2,831,226.53
- ---------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,601.35 5,771.08 4,922.39 6,789.51 3,903.97 3,530.55 4,837.53
5,632.80 5,803.49 4,950.04 6,827.64 3,925.89 3,550.37 4,864.69
5,664.44 5,836.08 4,977.84 6,865.98 3,947.94 3,570.31 4,892.01
5,696.25 5,868.86 5,005.79 6,904.54 3,970.11 3,590.36 4,919.48
5,728.24 5,901.82 5,033.90 6,943.31 3,992.41 3,610.52 4,947.11
5,760.40 5,934.96 5,062.17 6,982.31 4,014.83 3,630.80 4,974.89
5,792.75 5,968.29 5,090.60 7,021.52 4,037.37 3,651.19 5,002.83
5,825.28 6,001.81 5,119.19 7,060.95 4,060.05 3,671.69 5,030.93
5,858.00 6,035.51 5,147.94 7,100.60 4,082.85 3,692.31 5,059.18
5,890.90 6,069.41 5,176.85 7,140.48 4,105.78 3,713.05 5,087.59
5,923.98 6,103.49 5,205.92 7,180.58 4,128.83 3,733.90 5,116.16
5,957.25 6,137.77 5,235.16 7,220.90 4,152.02 3,754.87 5,144.89
5,990.70 6,172.24 5,264.55 7,261.46 4,175.34 3,775.96 5,173.79
6,024.34 6,206.90 5,294.12 7,302.23 4,198.78 3,797.16 5,202.84
6,058.18 6,241.76 5,323.85 7,343.24 4,222.36 3,818.49 5,232.06
6,092.20 6,276.81 5,353.75 7,384.48 4,246.08 3,839.93 5,261.44
6,126.41 6,312.06 5,383.81 7,425.95 4,269.92 3,861.49 5,290.99
6,160.82 6,347.51 5,414.05 7,467.65 4,293.90 3,883.18 5,320.70
6,195.41 6,383.15 5,444.45 7,509.59 4,318.01 3,904.99 5,350.58
6,230.21 6,419.00 5,475.03 7,551.76 4,342.26 3,926.92 5,380.63
6,265.19 6,455.05 5,505.78 7,594.17 4,366.65 3,948.97 5,410.85
6,300.38 6,491.30 5,536.69 7,636.82 4,391.17 3,971.15 5,441.23
6,335.76 6,527.75 5,567.79 7,679.71 4,415.83 3,993.45 5,471.79
6,371.34 6,564.41 5,599.06 7,722.84 4,440.63 4,015.88 5,502.52
6,407.12 6,601.28 5,630.50 7,766.21 4,465.57 4,038.43 5,533.42
6,443.10 6,638.35 5,662.12 7,809.82 4,490.65 4,061.11 5,564.50
6,479.29 6,675.63 5,693.92 7,853.68 4,515.86 4,083.91 5,595.75
6,515.67 6,713.12 5,725.89 7,897.78 4,541.23 4,106.85 5,627.17
6,552.26 6,750.82 5,758.05 7,942.14 4,566.73 4,129.91 5,658.77
6,589.06 6,788.73 5,790.38 7,986.74 4,592.37 4,153.10 5,690.55
6,626.06 6,826.85 5,822.90 8,031.59 4,618.16 4,176.43 5,722.51
6,663.27 6,865.19 5,855.60 8,076.69 4,644.10 4,199.88 5,754.64
6,700.69 6,903.74 5,888.49 8,122.05 4,670.18 4,223.47 5,786.96
6,738.32 6,942.51 5,921.56 8,167.66 4,696.41 4,247.19 5,819.46
6,776.16 6,981.50 5,954.81 8,213.53 4,722.78 4,271.04 5,852.14
6,814.22 7,020.71 5,988.25 8,259.66 4,749.30 4,295.02 5,885.01
6,852.49 7,060.14 6,021.88 8,306.04 4,775.97 4,319.14 5,918.06
6,890.97 7,099.78 6,055.70 8,352.69 4,802.80 4,343.40 5,951.29
6,929.67 7,139.66 6,089.71 8,399.59 4,829.77 4,367.79 5,984.71
6,968.58 7,179.75 6,123.90 8,446.77 4,856.89 4,392.32 6,018.32
7,007.72 7,220.07 6,158.30 8,494.20 4,884.17 4,416.99 6,052.12
7,047.07 7,260.62 6,192.88 8,541.90 4,911.59 4,441.79 6,086.11
7,086.65 7,301.39 6,227.66 8,589.87 4,939.18 4,466.73 6,120.28
7,126.44 7,342.40 6,262.63 8,638.11 4,966.91 4,491.82 6,154.66
7,166.46 7,383.63 6,297.80 8,686.62 4,994.81 4,517.04 6,189.22
7,206.71 7,425.09 6,333.17 8,735.41 5,022.86 4,542.41 6,223.98
7,247.18 7,466.79 6,368.73 8,784.46 5,051.07 4,567.92 6,258.93
7,287.88 7,508.72 6,404.50 8,833.79 5,079.43 4,593.57 6,294.08
7,328.81 7,550.89 6,440.47 8,883.40 5,107.96 4,619.37 6,329.42
7,369.97 7,593.30 6,476.64 8,933.29 5,136.64 4,645.31 6,364.97
7,411.35 7,635.94 6,513.01 8,983.46 5,165.49 4,671.40 6,400.71
7,452.97 7,678.82 6,549.58 9,033.91 5,194.50 4,697.63 6,436.66
7,494.83 7,721.95 6,586.36 9,084.64 5,223.67 4,724.01 6,472.81
7,536.92 7,765.31 6,623.35 9,135.66 5,253.00 4,750.54 6,509.16
7,579.25 7,808.92 6,660.55 9,186.96 5,282.50 4,777.22 6,545.71
7,621.81 7,852.77 6,697.95 9,238.56 5,312.17 4,804.05 6,582.47
7,664.61 7,896.87 6,735.57 9,290.44 5,342.00 4,831.03 6,619.44
7,707.66 7,941.22 6,773.39 9,342.61 5,372.00 4,858.16 6,656.61
7,750.94 7,985.82 6,811.43 9,395.08 5,402.17 4,885.44 6,693.99
7,794.47 8,030.66 6,849.68 9,447.84 5,432.51 4,912.88 6,731.59
7,838.24 8,075.76 6,888.15 9,500.90 5,463.02 4,940.47 6,769.39
7,882.26 8,121.11 6,926.83 9,554.25 5,493.69 4,968.21 6,807.40
7,926.52 8,166.72 6,965.73 9,607.91 5,524.55 4,996.11 6,845.63
<CAPTION>
80 81 82 83 84 85 86
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------------------------------------------------------
MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL
NH NH NJ NV NY NY NY
- ----------------------------------------------------------------------------------------------------------------------------------
2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98
- ----------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
3,479.62 3,988.84 7,298.72 8,486.89 6,110.56 5,261.87 4,158.57
3,499.16 4,011.24 7,339.71 8,534.55 6,144.87 5,291.42 4,181.93
3,518.81 4,033.76 7,380.93 8,582.48 6,179.38 5,321.13 4,205.41
3,538.58 4,056.42 7,422.38 8,630.67 6,214.09 5,351.02 4,229.03
3,558.45 4,079.20 7,464.06 8,679.14 6,248.98 5,381.07 4,252.78
3,578.43 4,102.11 7,505.98 8,727.88 6,284.08 5,411.29 4,276.66
3,598.53 4,125.14 7,548.13 8,776.90 6,319.37 5,441.68 4,300.68
3,618.74 4,148.31 7,590.52 8,826.19 6,354.85 5,472.24 4,324.83
3,639.06 4,171.60 7,633.15 8,875.75 6,390.54 5,502.97 4,349.12
3,659.49 4,195.03 7,676.01 8,925.60 6,426.43 5,533.87 4,373.54
3,680.05 4,218.59 7,719.12 8,975.72 6,462.52 5,564.95 4,398.10
3,700.71 4,242.28 7,762.47 9,026.13 6,498.81 5,596.20 4,422.80
3,721.49 4,266.10 7,806.06 9,076.82 6,535.31 5,627.63 4,447.64
3,742.39 4,290.06 7,849.90 9,127.79 6,572.01 5,659.23 4,472.62
3,763.41 4,314.15 7,893.98 9,179.05 6,608.92 5,691.01 4,497.74
3,784.54 4,338.38 7,938.32 9,230.60 6,646.03 5,722.97 4,522.99
3,805.80 4,362.75 7,982.90 9,282.44 6,683.36 5,755.11 4,548.39
3,827.17 4,387.25 8,027.73 9,334.57 6,720.89 5,787.43 4,573.94
3,848.66 4,411.88 8,072.81 9,386.99 6,758.63 5,819.93 4,599.62
3,870.28 4,436.66 8,118.14 9,439.70 6,796.59 5,852.62 4,625.45
3,892.01 4,461.58 8,163.73 9,492.71 6,834.75 5,885.48 4,651.43
3,913.87 4,486.63 8,209.58 9,546.02 6,873.14 5,918.53 4,677.55
3,935.85 4,511.83 8,255.68 9,599.63 6,911.74 5,951.77 4,703.82
3,957.95 4,537.17 8,302.05 9,653.54 6,950.55 5,985.20 4,730.24
3,980.18 4,562.65 8,348.67 9,707.76 6,989.58 6,018.81 4,756.80
4,002.53 4,588.27 8,395.55 9,762.27 7,028.84 6,052.61 4,783.51
4,025.01 4,614.04 8,442.70 9,817.10 7,068.31 6,086.60 4,810.38
4,047.61 4,639.95 8,490.12 9,872.23 7,108.00 6,120.78 4,837.39
4,070.34 4,666.00 8,537.79 9,927.67 7,147.92 6,155.15 4,864.56
4,093.20 4,692.21 8,585.74 9,983.42 7,188.06 6,189.72 4,891.88
4,116.19 4,718.56 8,633.96 10,039.49 7,228.43 6,224.48 4,919.35
4,139.30 4,745.06 8,682.44 10,095.87 7,269.02 6,259.44 4,946.97
4,162.55 4,771.70 8,731.20 10,152.56 7,309.85 6,294.59 4,974.76
4,185.93 4,798.50 8,780.24 10,209.58 7,350.90 6,329.94 5,002.69
4,209.43 4,825.45 8,829.54 10,266.91 7,392.18 6,365.49 5,030.79
4,233.07 4,852.55 8,879.13 10,324.57 7,433.69 6,401.23 5,059.04
4,256.84 4,879.80 8,928.99 10,382.55 7,475.44 6,437.18 5,087.45
4,280.75 4,907.20 8,979.14 10,440.86 7,517.42 6,473.33 5,116.02
4,304.79 4,934.76 9,029.56 10,499.49 7,559.63 6,509.68 5,144.75
4,328.97 4,962.47 9,080.27 10,558.45 7,602.09 6,546.24 5,173.64
4,353.28 4,990.34 9,131.26 10,617.75 7,644.78 6,583.00 5,202.70
4,377.72 5,018.37 9,182.54 10,677.38 7,687.71 6,619.97 5,231.91
4,402.31 5,046.55 9,234.11 10,737.34 7,730.88 6,657.15 5,261.30
4,427.03 5,074.89 9,285.97 10,797.64 7,774.30 6,694.54 5,290.84
4,451.89 5,103.39 9,338.12 10,858.28 7,817.96 6,732.13 5,320.56
4,476.89 5,132.05 9,390.56 10,919.25 7,861.86 6,769.94 5,350.43
4,502.03 5,160.87 9,443.29 10,980.57 7,906.01 6,807.96 5,380.48
4,527.32 5,189.85 9,496.33 11,042.24 7,950.41 6,846.19 5,410.70
4,552.74 5,219.00 9,549.66 11,104.25 7,995.06 6,884.64 5,441.08
4,578.31 5,248.31 9,603.29 11,166.61 8,039.96 6,923.30 5,471.64
4,604.02 5,277.78 9,657.22 11,229.32 8,085.11 6,962.18 5,502.37
4,629.88 5,307.42 9,711.45 11,292.38 8,130.52 7,001.28 5,533.27
4,655.88 5,337.23 9,765.99 11,355.80 8,176.18 7,040.60 5,564.34
4,682.02 5,367.20 9,820.83 11,419.57 8,222.09 7,080.13 5,595.59
4,708.32 5,397.34 9,875.98 11,483.70 8,268.27 7,119.90 5,627.01
4,734.76 5,427.65 9,931.45 11,548.19 8,314.70 7,159.88 5,658.61
4,761.35 5,458.13 9,987.22 11,613.04 8,361.39 7,200.09 5,690.39
4,788.09 5,488.78 10,043.31 11,678.26 8,408.35 7,240.52 5,722.35
4,814.98 5,519.61 10,099.71 11,743.85 8,455.57 7,281.18 5,754.48
4,842.02 5,550.61 10,156.43 11,809.80 8,503.05 7,322.07 5,786.80
4,869.21 5,581.78 10,213.46 11,876.12 8,550.81 7,363.19 5,819.30
4,896.55 5,613.12 10,270.82 11,942.81 8,598.83 7,404.54 5,851.98
4,924.05 5,644.65 10,328.50 12,009.88 8,647.12 7,446.13 5,884.84
<CAPTION>
87 88 89
-- -- --
RITE AID RITE AID RITE AID
- --------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND
NY NY OH
- --------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50
- --------------------------------------------------------
6.739% 6.739% 6.739%
- --------------------------------------------------------
10TH 10TH 10TH
- --------------------------------------------------------
<S> <C> <C>
3,225.02 3,564.49 4,455.62
3,243.13 3,584.51 4,480.64
3,261.34 3,604.64 4,505.80
3,279.66 3,624.88 4,531.10
3,298.07 3,645.24 4,556.55
3,316.60 3,665.71 4,582.14
3,335.22 3,686.30 4,607.87
3,353.95 3,707.00 4,633.75
3,372.79 3,727.82 4,659.77
3,391.73 3,748.75 4,685.94
3,410.77 3,769.80 4,712.25
3,429.93 3,790.98 4,738.72
3,449.19 3,812.26 4,765.33
3,468.56 3,833.67 4,792.09
3,488.04 3,855.20 4,819.00
3,507.63 3,876.85 4,846.07
3,527.33 3,898.63 4,873.28
3,547.13 3,920.52 4,900.65
3,567.05 3,942.54 4,928.17
3,587.09 3,964.68 4,955.84
3,607.23 3,986.94 4,983.68
3,627.49 4,009.33 5,011.66
3,647.86 4,031.85 5,039.81
3,668.35 4,054.49 5,068.11
3,688.95 4,077.26 5,096.57
3,709.66 4,100.16 5,125.19
3,730.50 4,123.18 5,153.98
3,751.45 4,146.34 5,182.92
3,772.51 4,169.62 5,212.03
3,793.70 4,193.04 5,241.30
3,815.00 4,216.59 5,270.73
3,836.43 4,240.27 5,300.33
3,857.97 4,264.08 5,330.10
3,879.64 4,288.02 5,360.03
3,901.43 4,312.10 5,390.13
3,923.34 4,336.32 5,420.40
3,945.37 4,360.67 5,450.84
3,967.53 4,385.16 5,481.45
3,989.81 4,409.79 5,512.23
4,012.21 4,434.55 5,543.19
4,034.74 4,459.46 5,574.32
4,057.40 4,484.50 5,605.62
4,080.19 4,509.68 5,637.10
4,103.10 4,535.01 5,668.76
4,126.14 4,560.48 5,700.60
4,149.32 4,586.09 5,732.61
4,172.62 4,611.84 5,764.80
4,196.05 4,637.74 5,797.18
4,219.62 4,663.79 5,829.73
4,243.31 4,689.98 5,862.47
4,267.14 4,716.32 5,895.39
4,291.11 4,742.80 5,928.50
4,315.20 4,769.44 5,961.80
4,339.44 4,796.22 5,995.28
4,363.81 4,823.16 6,028.94
4,388.31 4,850.24 6,062.80
4,412.96 4,877.48 6,096.85
4,437.74 4,904.87 6,131.09
4,462.66 4,932.42 6,165.52
4,487.72 4,960.12 6,200.14
4,512.92 4,987.97 6,234.96
4,538.27 5,015.98 6,269.98
4,563.75 5,044.15 6,305.19
</TABLE>
Page 26
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
70 74 75 76 77 78 79
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------------------------------------------------------
NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON SALYERSVILLE MADISON HGTS.
CA CA CT ID KY KY MI
- ----------------------------------------------------------------------------------------------------------------------------------
3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43 2,066,298.88 2,831,226.53
- ----------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,971.04 8,212.58 7,004.85 9,661.86 5,555.57 5,024.17 6,884.08
8,015.80 8,258.70 7,044.19 9,716.12 5,586.77 5,052.38 6,922.74
8,060.82 8,305.08 7,083.75 9,770.69 5,618.15 5,080.76 6,961.61
8,106.09 8,351.72 7,123.53 9,825.56 5,649.70 5,109.29 7,000.71
8,151.61 8,398.63 7,163.53 9,880.74 5,681.42 5,137.98 7,040.02
8,197.39 8,445.79 7,203.76 9,936.23 5,713.33 5,166.84 7,079.56
8,243.42 8,493.22 7,244.22 9,992.03 5,745.41 5,195.85 7,119.32
8,289.72 8,540.92 7,284.90 10,048.14 5,777.68 5,225.03 7,159.30
8,336.27 8,588.88 7,325.81 10,104.57 5,810.13 5,254.38 7,199.50
8,383.08 8,637.12 7,366.95 10,161.31 5,842.75 5,283.88 7,239.94
8,430.16 8,685.62 7,408.32 10,218.38 5,875.57 5,313.56 7,280.59
8,477.50 8,734.40 7,449.93 10,275.76 5,908.56 5,343.40 7,321.48
8,525.11 8,783.45 7,491.76 10,333.47 5,941.74 5,373.40 7,362.60
8,572.99 8,832.78 7,533.84 10,391.50 5,975.11 5,403.58 7,403.94
8,621.13 8,882.38 7,576.15 10,449.86 6,008.67 5,433.93 7,445.52
8,669.55 8,932.26 7,618.69 10,508.54 6,042.41 5,464.44 7,487.34
8,718.23 8,982.42 7,661.48 10,567.56 6,076.34 5,495.13 7,529.38
8,767.19 9,032.87 7,704.50 10,626.90 6,110.47 5,525.99 7,571.67
8,816.43 9,083.59 7,747.77 10,686.58 6,144.78 5,557.02 7,614.19
8,865.94 9,134.61 7,791.28 10,746.59 6,179.29 5,588.23 7,656.95
8,915.73 9,185.90 7,835.04 10,806.95 6,213.99 5,619.61 7,699.95
8,965.80 9,237.49 7,879.04 10,867.64 6,248.89 5,651.17 7,743.19
9,016.15 9,289.37 7,923.28 10,928.67 6,283.98 5,682.91 7,786.67
9,066.78 9,341.53 7,967.78 10,990.04 6,319.27 5,714.82 7,830.40
9,117.70 9,393.99 8,012.52 11,051.76 6,354.76 5,746.91 7,874.38
9,168.90 9,446.75 8,057.52 11,113.82 6,390.45 5,779.19 7,918.60
9,220.40 9,499.80 8,102.77 11,176.24 6,426.34 5,811.64 7,963.07
9,272.18 9,553.15 8,148.27 11,239.00 6,462.43 5,844.28 8,007.79
9,324.25 9,606.80 8,194.03 11,302.12 6,498.72 5,877.10 8,052.76
9,376.61 9,660.75 8,240.05 11,365.59 6,535.21 5,910.11 8,097.98
9,429.27 9,715.00 8,286.33 11,429.41 6,571.91 5,943.30 8,143.46
9,482.22 9,769.56 8,332.86 11,493.60 6,608.82 5,976.67 8,189.19
9,535.47 9,824.42 8,379.66 11,558.15 6,645.93 6,010.24 8,235.18
9,589.02 9,879.60 8,426.71 11,623.06 6,683.26 6,043.99 8,281.43
9,642.87 9,935.08 8,474.04 11,688.33 6,720.79 6,077.93 8,327.93
9,697.02 9,990.87 8,521.63 11,753.97 6,758.53 6,112.06 8,374.70
9,751.48 10,046.98 8,569.48 11,819.98 6,796.49 6,146.39 8,421.73
9,806.24 10,103.40 8,617.61 11,886.36 6,834.65 6,180.91 8,469.03
9,861.31 10,160.14 8,666.00 11,953.11 6,873.04 6,215.62 8,516.59
9,916.69 10,217.20 8,714.67 12,020.23 6,911.63 6,250.52 8,564.42
9,972.38 10,274.58 8,763.61 12,087.74 6,950.45 6,285.62 8,612.51
10,028.39 10,332.28 8,812.82 12,155.62 6,989.48 6,320.92 8,660.88
10,084.71 10,390.30 8,862.32 12,223.88 7,028.73 6,356.42 8,709.52
10,141.34 10,448.65 8,912.08 12,292.53 7,068.21 6,392.12 8,758.43
10,198.29 10,507.33 8,962.13 12,361.56 7,107.90 6,428.01 8,807.61
10,255.56 10,566.34 9,012.46 12,430.98 7,147.82 6,464.11 8,857.08
10,313.16 10,625.68 9,063.08 12,500.79 7,187.96 6,500.41 8,906.82
10,371.07 10,685.35 9,113.97 12,571.00 7,228.32 6,536.92 8,956.84
10,429.32 10,745.35 9,165.16 12,641.59 7,268.92 6,573.63 9,007.14
10,487.89 10,805.70 9,216.63 12,712.59 7,309.74 6,610.55 9,057.72
10,546.78 10,866.38 9,268.38 12,783.98 7,350.79 6,647.67 9,108.58
10,606.01 10,927.41 9,320.43 12,855.77 7,392.07 6,685.00 9,159.74
10,665.57 10,988.77 9,372.78 12,927.97 7,433.58 6,722.54 9,211.18
10,725.47 11,050.48 9,425.41 13,000.57 7,475.33 6,760.30 9,262.91
10,785.70 11,112.54 9,478.34 13,073.58 7,517.31 6,798.26 9,314.92
10,846.27 11,174.95 9,531.57 13,147.00 7,559.52 6,836.44 9,367.24
10,907.18 11,237.70 9,585.10 13,220.83 7,601.98 6,874.83 9,419.84
10,968.44 11,300.81 9,638.93 13,295.07 7,644.67 6,913.44 9,472.74
11,030.03 11,364.28 9,693.06 13,369.74 7,687.60 6,952.26 9,525.94
11,091.98 11,428.10 9,747.49 13,444.82 7,730.77 6,991.31 9,579.43
11,154.27 11,492.27 9,802.23 13,520.32 7,774.19 7,030.57 9,633.23
11,216.91 11,556.81 9,857.28 13,596.25 7,817.84 7,070.05 9,687.33
11,279.90 11,621.71 9,912.64 13,672.61 7,861.75 7,109.76 9,741.73
<CAPTION>
80 81 82 83 84 85 86
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------------------------------------------
MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL
NH NH NJ NV NY NY NY
- ---------------------------------------------------------------------------------------------------------------------------------
2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98
- ---------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,951.70 5,676.34 10,386.50 12,077.33 8,695.68 7,487.94 5,917.89
4,979.51 5,708.22 10,444.83 12,145.15 8,744.51 7,529.99 5,951.12
5,007.48 5,740.28 10,503.49 12,213.36 8,793.62 7,572.28 5,984.54
5,035.60 5,772.51 10,562.47 12,281.94 8,843.00 7,614.81 6,018.15
5,063.88 5,804.93 10,621.79 12,350.92 8,892.66 7,657.57 6,051.95
5,092.31 5,837.53 10,681.44 12,420.28 8,942.60 7,700.57 6,085.94
5,120.91 5,870.31 10,741.43 12,490.03 8,992.82 7,743.82 6,120.11
5,149.67 5,903.28 10,801.75 12,560.17 9,043.32 7,787.31 6,154.48
5,178.59 5,936.43 10,862.41 12,630.71 9,094.11 7,831.04 6,189.05
5,207.67 5,969.77 10,923.41 12,701.64 9,145.18 7,875.02 6,223.80
5,236.92 6,003.30 10,984.75 12,772.97 9,196.54 7,919.24 6,258.75
5,266.33 6,037.01 11,046.44 12,844.70 9,248.18 7,963.71 6,293.90
5,295.90 6,070.91 11,108.48 12,916.83 9,300.12 8,008.44 6,329.25
5,325.64 6,105.01 11,170.86 12,989.37 9,352.35 8,053.41 6,364.79
5,355.55 6,139.29 11,233.59 13,062.32 9,404.87 8,098.64 6,400.54
5,385.63 6,173.77 11,296.68 13,135.67 9,457.69 8,144.12 6,436.48
5,415.87 6,208.44 11,360.12 13,209.44 9,510.80 8,189.85 6,472.63
5,446.28 6,243.30 11,423.92 13,283.62 9,564.21 8,235.85 6,508.98
5,476.87 6,278.37 11,488.07 13,358.22 9,617.92 8,282.10 6,545.53
5,507.63 6,313.62 11,552.59 13,433.24 9,671.93 8,328.61 6,582.29
5,538.56 6,349.08 11,617.46 13,508.68 9,726.25 8,375.38 6,619.25
5,569.66 6,384.74 11,682.71 13,584.54 9,780.87 8,422.42 6,656.43
5,600.94 6,420.59 11,748.31 13,660.83 9,835.80 8,469.71 6,693.81
5,632.39 6,456.65 11,814.29 13,737.55 9,891.03 8,517.28 6,731.40
5,664.02 6,492.91 11,880.64 13,814.69 9,946.58 8,565.11 6,769.20
5,695.83 6,529.37 11,947.36 13,892.28 10,002.44 8,613.21 6,807.22
5,727.82 6,566.04 12,014.45 13,970.29 10,058.61 8,661.58 6,845.44
5,759.99 6,602.91 12,081.92 14,048.75 10,115.10 8,710.22 6,883.89
5,792.33 6,639.99 12,149.77 14,127.64 10,171.90 8,759.14 6,922.55
5,824.86 6,677.28 12,218.00 14,206.98 10,229.03 8,808.33 6,961.42
5,857.57 6,714.78 12,286.62 14,286.77 10,286.47 8,857.79 7,000.52
5,890.47 6,752.49 12,355.62 14,367.00 10,344.24 8,907.54 7,039.83
5,923.55 6,790.41 12,425.01 14,447.68 10,402.33 8,957.56 7,079.36
5,956.81 6,828.54 12,494.78 14,528.82 10,460.75 9,007.87 7,119.12
5,990.27 6,866.89 12,564.95 14,610.41 10,519.49 9,058.45 7,159.10
6,023.91 6,905.46 12,635.51 14,692.46 10,578.57 9,109.32 7,199.30
6,057.74 6,944.24 12,706.47 14,774.97 10,637.98 9,160.48 7,239.73
6,091.75 6,983.23 12,777.83 14,857.94 10,697.72 9,211.92 7,280.39
6,125.96 7,022.45 12,849.59 14,941.38 10,757.80 9,263.66 7,321.28
6,160.37 7,061.89 12,921.75 15,025.29 10,818.21 9,315.68 7,362.39
6,194.96 7,101.55 12,994.32 15,109.67 10,878.96 9,367.99 7,403.74
6,229.75 7,141.43 13,067.29 15,194.52 10,940.06 9,420.60 7,445.32
6,264.74 7,181.53 13,140.67 15,279.85 11,001.49 9,473.51 7,487.13
6,299.92 7,221.86 13,214.47 15,365.66 11,063.28 9,526.71 7,529.17
6,335.30 7,262.42 13,288.68 15,451.95 11,125.41 9,580.21 7,571.46
6,370.88 7,303.20 13,363.31 15,538.73 11,187.88 9,634.01 7,613.98
6,406.65 7,344.22 13,438.35 15,625.99 11,250.71 9,688.11 7,656.74
6,442.63 7,385.46 13,513.82 15,713.74 11,313.90 9,742.52 7,699.73
6,478.81 7,426.94 13,589.71 15,801.99 11,377.43 9,797.23 7,742.97
6,515.20 7,468.64 13,666.03 15,890.73 11,441.33 9,852.25 7,786.46
6,551.79 7,510.59 13,742.77 15,979.97 11,505.58 9,907.58 7,830.19
6,588.58 7,552.77 13,819.95 16,069.71 11,570.19 9,963.22 7,874.16
6,625.58 7,595.18 13,897.56 16,159.96 11,635.17 10,019.17 7,918.38
6,662.79 7,637.83 13,975.61 16,250.71 11,700.51 10,075.44 7,962.85
6,700.21 7,680.73 14,054.09 16,341.97 11,766.22 10,132.02 8,007.56
6,737.83 7,723.86 14,133.02 16,433.74 11,832.30 10,188.92 8,052.53
6,775.67 7,767.24 14,212.39 16,526.03 11,898.74 10,246.14 8,097.76
6,813.72 7,810.86 14,292.20 16,618.84 11,965.57 10,303.68 8,143.23
6,851.99 7,854.72 14,372.46 16,712.17 12,032.76 10,361.54 8,188.96
6,890.47 7,898.83 14,453.18 16,806.02 12,100.34 10,419.73 8,234.95
6,929.16 7,943.19 14,534.34 16,900.40 12,168.29 10,478.25 8,281.20
6,968.08 7,987.80 14,615.97 16,995.31 12,236.62 10,537.09 8,327.70
7,007.21 8,032.65 14,698.05 17,090.75 12,305.34 10,596.27 8,374.47
<CAPTION>
87 88 89
-- -- --
RITE AID RITE AID RITE AID
- --------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND
NY NY OH
- --------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50
- --------------------------------------------------------
6.739% 6.739% 6.739%
- --------------------------------------------------------
10TH 10TH 10TH
- --------------------------------------------------------
<S> <C> <C>
4,589.38 5,072.48 6,340.60
4,615.16 5,100.97 6,376.21
4,641.08 5,129.61 6,412.01
4,667.14 5,158.42 6,448.02
4,693.35 5,187.39 6,484.23
4,719.71 5,216.52 6,520.65
4,746.21 5,245.81 6,557.27
4,772.86 5,275.27 6,594.09
4,799.67 5,304.90 6,631.12
4,826.62 5,334.69 6,668.36
4,853.73 5,364.65 6,705.81
4,880.99 5,394.78 6,743.47
4,908.40 5,425.07 6,781.34
4,935.96 5,455.54 6,819.42
4,963.68 5,486.18 6,857.72
4,991.56 5,516.99 6,896.23
5,019.59 5,547.97 6,934.96
5,047.78 5,579.12 6,973.90
5,076.12 5,610.46 7,013.07
5,104.63 5,641.96 7,052.45
5,133.30 5,673.65 7,092.06
5,162.13 5,705.51 7,131.89
5,191.12 5,737.55 7,171.94
5,220.27 5,769.77 7,212.21
5,249.58 5,802.17 7,252.72
5,279.06 5,834.76 7,293.45
5,308.71 5,867.53 7,334.40
5,338.52 5,900.48 7,375.59
5,368.50 5,933.61 7,417.01
5,398.65 5,966.93 7,458.67
5,428.97 6,000.44 7,500.55
5,459.46 6,034.14 7,542.67
5,490.12 6,068.03 7,585.03
5,520.95 6,102.11 7,627.63
5,551.95 6,136.37 7,670.46
5,583.13 6,170.83 7,713.54
5,614.49 6,205.49 7,756.86
5,646.02 6,240.34 7,800.42
5,677.72 6,275.38 7,844.23
5,709.61 6,310.62 7,888.28
5,741.67 6,346.06 7,932.58
5,773.92 6,381.70 7,977.13
5,806.34 6,417.54 8,021.92
5,838.95 6,453.58 8,066.97
5,871.74 6,489.82 8,112.28
5,904.72 6,526.27 8,157.83
5,937.88 6,562.92 8,203.65
5,971.22 6,599.77 8,249.72
6,004.76 6,636.84 8,296.05
6,038.48 6,674.11 8,342.63
6,072.39 6,711.59 8,389.49
6,106.49 6,749.28 8,436.60
6,140.78 6,787.18 8,483.98
6,175.27 6,825.30 8,531.62
6,209.95 6,863.63 8,579.53
6,244.82 6,902.17 8,627.72
6,279.89 6,940.94 8,676.17
6,315.16 6,979.92 8,724.89
6,350.62 7,019.11 8,773.89
6,386.29 7,058.53 8,823.16
6,422.15 7,098.17 8,872.71
6,458.22 7,138.03 8,922.54
6,494.49 7,178.12 8,972.65
</TABLE>
Page 27
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
70 74 75 76 77 78 79
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------------------------------------------------------
NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON SALYERSVILLE MADISON HGTS.
CA CA CT ID KY KY MI
- ----------------------------------------------------------------------------------------------------------------------------------
3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43 2,066,298.88 2,831,226.53
- ----------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,343.25 11,686.98 9,968.31 13,749.39 7,905.90 7,149.68 9,796.44
11,406.95 11,752.61 10,024.29 13,826.60 7,950.30 7,189.83 9,851.45
11,471.01 11,818.61 10,080.58 13,904.25 7,994.94 7,230.21 9,906.78
11,535.43 11,884.98 10,137.19 13,982.33 8,039.84 7,270.81 9,962.41
11,600.21 11,951.73 10,194.12 14,060.86 8,084.99 7,311.65 10,018.36
11,665.35 12,018.85 10,251.37 14,139.82 8,130.40 7,352.71 10,074.62
11,730.86 12,086.34 10,308.94 14,219.23 8,176.06 7,394.00 10,131.20
11,796.74 12,154.22 10,366.83 14,299.08 8,221.97 7,435.52 10,188.09
11,862.99 12,222.47 10,425.05 14,379.38 8,268.14 7,477.28 10,245.31
11,929.61 12,291.11 10,483.60 14,460.13 8,314.58 7,519.27 10,302.85
11,996.61 12,360.14 10,542.47 14,541.34 8,361.27 7,561.50 10,360.70
12,063.98 12,429.55 10,601.68 14,623.00 8,408.23 7,603.96 10,418.89
12,131.73 12,499.35 10,661.21 14,705.12 8,455.44 7,646.66 10,477.40
12,199.86 12,569.55 10,721.08 14,787.70 8,502.93 7,689.61 10,536.24
12,268.37 12,640.14 10,781.29 14,870.75 8,550.68 7,732.79 10,595.41
12,337.27 12,711.12 10,841.84 14,954.26 8,598.70 7,776.22 10,654.91
12,406.55 12,782.50 10,902.72 15,038.24 8,646.99 7,819.89 10,714.75
12,476.22 12,854.29 10,963.95 15,122.69 8,695.55 7,863.80 10,774.92
12,546.29 12,926.48 11,025.52 15,207.62 8,744.38 7,907.96 10,835.43
12,616.74 12,999.07 11,087.44 15,293.02 8,793.49 7,952.37 10,896.28
12,687.60 13,072.07 11,149.71 15,378.91 8,842.87 7,997.03 10,957.47
12,758.85 13,145.48 11,212.32 15,465.27 8,892.53 8,041.94 11,019.01
12,830.50 13,219.30 11,275.29 15,552.12 8,942.47 8,087.10 11,080.89
12,902.56 13,293.54 11,338.61 15,639.46 8,992.69 8,132.52 11,143.11
12,975.01 13,368.19 11,402.28 15,727.29 9,043.19 8,178.19 11,205.69
13,047.88 13,443.27 11,466.32 15,815.61 9,093.98 8,224.12 11,268.62
13,121.15 13,518.76 11,530.71 15,904.43 9,145.05 8,270.30 11,331.90
13,194.84 13,594.68 11,595.46 15,993.74 9,196.40 8,316.75 11,395.54
13,268.94 13,671.03 11,660.58 16,083.56 9,248.05 8,363.45 11,459.54
13,343.46 13,747.80 11,726.07 16,173.89 9,299.98 8,410.42 11,523.89
13,418.39 13,825.01 11,791.92 16,264.71 9,352.21 8,457.65 11,588.61
13,493.75 13,902.65 11,858.14 16,356.05 9,404.73 8,505.15 11,653.69
13,569.53 13,980.72 11,924.73 16,447.91 9,457.55 8,552.91 11,719.13
13,645.73 14,059.24 11,991.70 16,540.28 9,510.66 8,600.94 11,784.95
13,722.36 14,138.19 12,059.04 16,633.16 9,564.07 8,649.25 11,851.13
13,799.42 14,217.59 12,126.76 16,726.57 9,617.78 8,697.82 11,917.68
13,876.92 14,297.43 12,194.87 16,820.51 9,671.79 8,746.66 11,984.61
13,954.85 14,377.72 12,263.35 16,914.97 9,726.11 8,795.78 12,051.91
14,033.22 14,458.47 12,332.22 17,009.96 9,780.73 8,845.18 12,119.60
14,112.03 14,539.66 12,401.48 17,105.48 9,835.65 8,894.85 12,187.66
14,191.28 14,621.31 12,471.12 17,201.55 9,890.89 8,944.80 12,256.10
14,270.97 14,703.43 12,541.16 17,298.15 9,946.43 8,995.04 12,324.93
14,351.12 14,786.00 12,611.59 17,395.29 10,002.29 9,045.55 12,394.14
14,431.71 14,869.03 12,682.41 17,492.98 10,058.46 9,096.35 12,463.75
14,512.76 14,952.53 12,753.63 17,591.22 10,114.95 9,147.43 12,533.74
14,594.26 15,036.51 12,825.25 17,690.01 10,171.75 9,198.80 12,604.13
14,676.22 15,120.95 12,897.28 17,789.35 10,228.88 9,250.46 12,674.91
14,758.63 15,205.87 12,969.71 17,889.25 10,286.32 9,302.41 12,746.09
14,841.52 15,291.26 13,042.54 17,989.72 10,344.09 9,354.65 12,817.67
14,924.86 15,377.13 13,115.79 18,090.74 10,402.18 9,407.19 12,889.65
15,008.68 15,463.49 13,189.44 18,192.34 10,460.59 9,460.02 12,962.04
15,092.97 15,550.33 13,263.51 18,294.50 10,519.34 9,513.14 13,034.83
15,177.73 15,637.66 13,338.00 18,397.24 10,578.41 9,566.57 13,108.03
15,262.96 15,725.47 13,412.90 18,500.56 10,637.82 9,620.29 13,181.65
15,348.68 15,813.79 13,488.23 18,604.45 10,697.56 9,674.32 13,255.67
15,434.87 15,902.59 13,563.98 18,708.93 10,757.64 9,728.65 13,330.11
15,521.55 15,991.90 13,640.15 18,814.00 10,818.05 9,783.28 13,404.97
15,608.72 16,081.71 13,716.75 18,919.66 10,878.80 9,838.22 13,480.25
15,696.37 16,172.02 13,793.78 19,025.91 10,939.90 9,893.47 13,555.96
15,784.52 16,262.84 13,871.24 19,132.75 11,001.33 9,949.03 13,632.09
15,873.16 16,354.17 13,949.14 19,240.20 11,063.11 10,004.90 13,708.64
15,962.31 16,446.01 14,027.48 19,348.25 11,125.24 10,061.09 13,785.63
16,051.95 16,538.37 14,106.25 19,456.90 11,187.72 10,117.59 13,863.04
<CAPTION>
80 81 82 83 84 85 86
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------------------------------------------
MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL
NH NH NJ NV NY NY NY
- ---------------------------------------------------------------------------------------------------------------------------------
2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98
- ---------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,046.56 8,077.76 14,780.59 17,186.73 12,374.45 10,655.77 8,421.50
7,086.13 8,123.13 14,863.59 17,283.25 12,443.94 10,715.61 8,468.79
7,125.93 8,168.75 14,947.07 17,380.31 12,513.82 10,775.79 8,516.35
7,165.94 8,214.62 15,031.01 17,477.91 12,584.10 10,836.31 8,564.18
7,206.19 8,260.75 15,115.42 17,576.07 12,654.77 10,897.16 8,612.27
7,246.65 8,307.14 15,200.30 17,674.77 12,725.84 10,958.36 8,660.64
7,287.35 8,353.80 15,285.67 17,774.03 12,797.30 11,019.90 8,709.28
7,328.28 8,400.71 15,371.51 17,873.85 12,869.17 11,081.78 8,758.18
7,369.43 8,447.89 15,457.83 17,974.22 12,941.44 11,144.02 8,807.37
7,410.82 8,495.33 15,544.64 18,075.16 13,014.12 11,206.60 8,856.83
7,452.43 8,543.04 15,631.94 18,176.67 13,087.20 11,269.54 8,906.57
7,494.28 8,591.01 15,719.72 18,278.75 13,160.70 11,332.82 8,956.59
7,536.37 8,639.26 15,808.00 18,381.40 13,234.61 11,396.47 9,006.89
7,578.69 8,687.77 15,896.78 18,484.62 13,308.93 11,460.47 9,057.47
7,621.26 8,736.56 15,986.05 18,588.43 13,383.67 11,524.83 9,108.33
7,664.05 8,785.63 16,075.83 18,692.82 13,458.83 11,589.55 9,159.48
7,707.09 8,834.97 16,166.11 18,797.80 13,534.41 11,654.63 9,210.92
7,750.38 8,884.58 16,256.89 18,903.36 13,610.42 11,720.08 9,262.65
7,793.90 8,934.48 16,348.19 19,009.52 13,686.86 11,785.90 9,314.66
7,837.67 8,984.65 16,440.00 19,116.27 13,763.72 11,852.09 9,366.97
7,881.69 9,035.11 16,532.32 19,223.63 13,841.01 11,918.65 9,419.58
7,925.95 9,085.85 16,625.16 19,331.58 13,918.74 11,985.58 9,472.48
7,970.46 9,136.87 16,718.53 19,440.15 13,996.91 12,052.89 9,525.67
8,015.22 9,188.18 16,812.42 19,549.32 14,075.51 12,120.58 9,579.17
8,060.23 9,239.78 16,906.83 19,659.11 14,154.56 12,188.65 9,632.96
8,105.50 9,291.67 17,001.78 19,769.51 14,234.05 12,257.10 9,687.06
8,151.02 9,343.85 17,097.26 19,880.53 14,313.98 12,325.93 9,741.46
8,196.79 9,396.32 17,193.27 19,992.18 14,394.37 12,395.15 9,796.17
8,242.82 9,449.09 17,289.83 20,104.45 14,475.20 12,464.76 9,851.18
8,289.11 9,502.16 17,386.92 20,217.35 14,556.49 12,534.76 9,906.50
8,335.66 9,555.52 17,484.57 20,330.89 14,638.24 12,605.15 9,962.14
8,382.47 9,609.18 17,582.76 20,445.06 14,720.45 12,675.94 10,018.08
8,429.55 9,663.15 17,681.50 20,559.88 14,803.12 12,747.13 10,074.34
8,476.89 9,717.41 17,780.79 20,675.34 14,886.25 12,818.71 10,130.92
8,524.49 9,771.98 17,880.65 20,791.45 14,969.85 12,890.70 10,187.81
8,572.36 9,826.86 17,981.06 20,908.21 15,053.91 12,963.09 10,245.02
8,620.51 9,882.05 18,082.04 21,025.63 15,138.45 13,035.89 10,302.56
8,668.92 9,937.54 18,183.59 21,143.70 15,223.47 13,109.10 10,360.42
8,717.60 9,993.35 18,285.70 21,262.44 15,308.96 13,182.72 10,418.60
8,766.56 10,049.47 18,388.39 21,381.85 15,394.93 13,256.75 10,477.11
8,815.79 10,105.91 18,491.66 21,501.93 15,481.39 13,331.20 10,535.95
8,865.30 10,162.66 18,595.50 21,622.68 15,568.33 13,406.06 10,595.11
8,915.08 10,219.73 18,699.93 21,744.11 15,655.76 13,481.35 10,654.61
8,965.15 10,277.12 18,804.95 21,866.22 15,743.68 13,557.06 10,714.45
9,015.50 10,334.84 18,910.56 21,989.02 15,832.09 13,633.19 10,774.62
9,066.12 10,392.88 19,016.75 22,112.50 15,921.00 13,709.75 10,835.13
9,117.04 10,451.24 19,123.55 22,236.68 16,010.41 13,786.74 10,895.98
9,168.24 10,509.94 19,230.94 22,361.56 16,100.33 13,864.17 10,957.17
9,219.73 10,568.96 19,338.94 22,487.14 16,190.74 13,942.03 11,018.70
9,271.50 10,628.31 19,447.55 22,613.42 16,281.67 14,020.32 11,080.58
9,323.57 10,688.00 19,556.76 22,740.42 16,373.10 14,099.06 11,142.80
9,375.93 10,748.02 19,666.59 22,868.12 16,465.05 14,178.24 11,205.38
9,428.58 10,808.38 19,777.03 22,996.55 16,557.52 14,257.86 11,268.31
9,481.53 10,869.08 19,888.10 23,125.69 16,650.50 14,337.93 11,331.59
9,534.78 10,930.12 19,999.78 23,255.56 16,744.01 14,418.45 11,395.23
9,588.32 10,991.50 20,112.10 23,386.16 16,838.04 14,499.42 11,459.22
9,642.17 11,053.22 20,225.05 23,517.49 16,932.60 14,580.85 11,523.57
9,696.32 11,115.30 20,338.63 23,649.56 17,027.69 14,662.73 11,588.29
9,750.77 11,177.72 20,452.84 23,782.38 17,123.31 14,745.07 11,653.36
9,805.53 11,240.49 20,567.70 23,915.93 17,219.47 14,827.88 11,718.81
9,860.60 11,303.62 20,683.21 24,050.24 17,316.18 14,911.15 11,784.62
9,915.97 11,367.09 20,799.36 24,185.30 17,413.42 14,994.89 11,850.80
9,971.66 11,430.93 20,916.17 24,321.12 17,511.21 15,079.10 11,917.35
<CAPTION>
87 88 89
-- -- --
RITE AID RITE AID RITE AID
- --------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND
NY NY OH
- --------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50
- --------------------------------------------------------
6.739% 6.739% 6.739%
- --------------------------------------------------------
10TH 10TH 10TH
- --------------------------------------------------------
<S> <C> <C>
6,530.96 7,218.43 9,023.04
6,567.63 7,258.97 9,073.71
6,604.52 7,299.73 9,124.66
6,641.61 7,340.73 9,175.91
6,678.91 7,381.95 9,227.44
6,716.41 7,423.41 9,279.26
6,754.13 7,465.10 9,331.37
6,792.06 7,507.02 9,383.77
6,830.20 7,549.18 9,436.47
6,868.56 7,591.57 9,489.46
6,907.13 7,634.20 9,542.75
6,945.92 7,677.08 9,596.34
6,984.93 7,720.19 9,650.24
7,024.16 7,763.55 9,704.43
7,063.60 7,807.14 9,758.93
7,103.27 7,850.99 9,813.73
7,143.16 7,895.08 9,868.84
7,183.28 7,939.42 9,924.27
7,223.62 7,984.00 9,980.00
7,264.18 8,028.84 10,036.05
7,304.98 8,073.93 10,092.41
7,346.00 8,119.27 10,149.08
7,387.26 8,164.87 10,206.08
7,428.74 8,210.72 10,263.39
7,470.46 8,256.83 10,321.03
7,512.41 8,303.20 10,378.99
7,554.60 8,349.83 10,437.28
7,597.03 8,396.72 10,495.89
7,639.69 8,443.87 10,554.84
7,682.59 8,491.29 10,614.11
7,725.74 8,538.98 10,673.72
7,769.12 8,586.93 10,733.66
7,812.75 8,635.15 10,793.94
7,856.63 8,683.65 10,854.56
7,900.75 8,732.41 10,915.51
7,945.12 8,781.45 10,976.81
7,989.74 8,830.77 11,038.46
8,034.61 8,880.36 11,100.45
8,079.73 8,930.23 11,162.79
8,125.10 8,980.38 11,225.47
8,170.73 9,030.81 11,288.51
8,216.62 9,081.53 11,351.91
8,262.76 9,132.53 11,415.66
8,309.16 9,183.82 11,479.77
8,355.83 9,235.39 11,544.24
8,402.75 9,287.26 11,609.07
8,449.94 9,339.41 11,674.26
8,497.39 9,391.86 11,739.82
8,545.11 9,444.60 11,805.75
8,593.10 9,497.64 11,872.05
8,641.36 9,550.98 11,938.72
8,689.89 9,604.62 12,005.77
8,738.69 9,658.55 12,073.19
8,787.76 9,712.79 12,140.99
8,837.11 9,767.34 12,209.17
8,886.74 9,822.19 12,277.74
8,936.65 9,877.35 12,346.69
8,986.83 9,932.82 12,416.02
9,037.30 9,988.60 12,485.75
9,088.05 10,044.70 12,555.87
9,139.09 10,101.11 12,626.38
9,190.42 10,157.83 12,697.29
9,242.03 10,214.88 12,768.59
</TABLE>
Page 28
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
70 74 75 76 77 78 79
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------------------------------------------
NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON SALYERSVILLE MADISON HGTS.
CA CA CT ID KY KY MI
- ---------------------------------------------------------------------------------------------------------------------------------
3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43 2,066,298.88 2,831,226.53
- ---------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
16,142.09 16,631.25 14,185.47 19,566.17 11,250.55 10,174.41 13,940.90
16,232.74 16,724.64 14,265.14 19,676.05 11,313.73 10,231.55 14,019.19
16,323.90 16,818.57 14,345.25 19,786.55 11,377.27 10,289.01 14,097.92
16,415.58 16,913.02 14,425.81 19,897.67 11,441.16 10,346.79 14,177.09
16,507.76 17,008.00 14,506.82 20,009.41 11,505.41 10,404.89 14,256.70
16,600.47 17,103.51 14,588.29 20,121.78 11,570.02 10,463.33 14,336.77
16,693.69 17,199.56 14,670.21 20,234.78 11,635.00 10,522.09 14,417.28
16,787.44 17,296.15 14,752.60 20,348.41 11,700.34 10,581.18 14,498.24
16,881.72 17,393.28 14,835.45 20,462.69 11,766.04 10,640.60 14,579.66
16,976.52 17,490.96 14,918.76 20,577.60 11,832.12 10,700.35 14,661.54
17,071.86 17,589.19 15,002.54 20,693.16 11,898.57 10,760.45 14,743.88
17,167.73 17,687.97 15,086.79 20,809.37 11,965.39 10,820.87 14,826.68
17,264.14 17,787.30 15,171.52 20,926.23 12,032.58 10,881.64 14,909.94
17,361.10 17,887.19 15,256.72 21,043.75 12,100.16 10,942.75 14,993.67
17,458.59 17,987.64 15,342.40 21,161.93 12,168.11 11,004.20 15,077.88
17,556.64 18,088.66 15,428.56 21,280.77 12,236.44 11,066.00 15,162.55
17,655.23 18,190.24 15,515.20 21,400.28 12,305.16 11,128.15 15,247.70
17,754.38 18,292.39 15,602.33 21,520.46 12,374.27 11,190.64 15,333.33
17,854.09 18,395.12 15,689.95 21,641.32 12,443.76 11,253.49 15,419.44
17,954.35 18,498.42 15,778.07 21,762.85 12,513.64 11,316.68 15,506.03
18,055.18 18,602.31 15,866.67 21,885.07 12,583.91 11,380.24 15,593.11
18,156.58 18,706.78 15,955.78 22,007.97 12,654.58 11,444.15 15,680.68
18,258.54 18,811.83 16,045.38 22,131.56 12,725.65 11,508.41 15,768.74
18,361.08 18,917.47 16,135.49 22,255.85 12,797.11 11,573.04 15,857.29
756,982.68 779,921.49 665,227.10 917,554.65 527,593.90 477,128.47 653,757.68
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
80 81 82 83 84 85 86
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------------------------------------------------------
MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL
NH NH NJ NV NY NY NY
- ----------------------------------------------------------------------------------------------------------------------------------
2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98
- ----------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
10,027.66 11,495.12 21,033.63 24,457.71 17,609.55 15,163.78 11,984.28
10,083.97 11,559.68 21,151.75 24,595.06 17,708.44 15,248.94 12,051.58
10,140.60 11,624.60 21,270.54 24,733.18 17,807.89 15,334.57 12,119.26
10,197.55 11,689.88 21,389.99 24,872.08 17,907.90 15,420.69 12,187.32
10,254.82 11,755.53 21,510.11 25,011.76 18,008.47 15,507.29 12,255.76
10,312.41 11,821.54 21,630.91 25,152.22 18,109.60 15,594.37 12,324.59
10,370.32 11,887.93 21,752.38 25,293.47 18,211.30 15,681.95 12,393.80
10,428.56 11,954.69 21,874.54 25,435.51 18,313.57 15,770.02 12,463.40
10,487.12 12,021.83 21,997.38 25,578.35 18,416.42 15,858.58 12,533.39
10,546.02 12,089.34 22,120.92 25,722.00 18,519.84 15,947.64 12,603.78
10,605.24 12,157.23 22,245.15 25,866.45 18,623.84 16,037.20 12,674.56
10,664.80 12,225.51 22,370.07 26,011.71 18,728.43 16,127.26 12,745.74
10,724.69 12,294.16 22,495.70 26,157.79 18,833.61 16,217.83 12,817.32
10,784.92 12,363.20 22,622.03 26,304.68 18,939.37 16,308.90 12,889.30
10,845.48 12,432.63 22,749.07 26,452.41 19,045.73 16,400.49 12,961.68
10,906.39 12,502.45 22,876.83 26,600.96 19,152.69 16,492.60 13,034.47
10,967.64 12,572.66 23,005.30 26,750.35 19,260.25 16,585.21 13,107.67
11,029.23 12,643.27 23,134.49 26,900.57 19,368.41 16,678.35 13,181.28
11,091.17 12,714.27 23,264.41 27,051.64 19,477.18 16,772.02 13,255.30
11,153.46 12,785.67 23,395.06 27,203.56 19,586.56 16,866.21 13,329.74
11,216.09 12,857.48 23,526.44 27,356.33 19,696.56 16,960.92 13,404.60
11,279.08 12,929.68 23,658.56 27,509.96 19,807.17 17,056.17 13,479.88
11,342.42 13,002.29 23,791.43 27,664.45 19,918.40 17,151.96 13,555.58
11,406.12 13,075.31 23,925.04 27,819.81 20,030.26 17,248.28 13,631.71
470,246.57 539,063.33 986,371.09 1,146,943.06 825,799.07 711,104.73 562,002.14
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
87 88 89
-- -- --
RITE AID RITE AID RITE AID
- --------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND
NY NY OH
- --------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50
- --------------------------------------------------------
6.739% 6.739% 6.739%
- --------------------------------------------------------
10TH 10TH 10TH
- --------------------------------------------------------
<S> <C> <C>
9,293.93 10,272.24 12,840.30
9,346.12 10,329.93 12,912.41
9,398.61 10,387.94 12,984.92
9,451.39 10,446.28 13,057.84
9,504.47 10,504.94 13,131.17
9,557.84 10,563.94 13,204.92
9,611.52 10,623.26 13,279.07
9,665.49 10,682.92 13,353.65
9,719.77 10,742.91 13,428.64
9,774.36 10,803.24 13,504.05
9,829.25 10,863.91 13,579.89
9,884.45 10,924.92 13,656.15
9,939.96 10,986.28 13,732.84
9,995.78 11,047.97 13,809.96
10,051.91 11,110.02 13,887.52
10,108.36 11,172.41 13,965.51
10,165.13 11,235.15 14,043.93
10,222.22 11,298.24 14,122.80
10,279.62 11,361.69 14,202.11
10,337.35 11,425.50 14,281.87
10,395.40 11,489.66 14,362.07
10,453.78 11,554.19 14,442.73
10,512.49 11,619.07 14,523.84
10,571.53 11,684.32 14,605.40
435,838.37 481,716.32 602,145.22
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
</TABLE>
Page 29
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
70 74 75 76 77 78 79
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------------------------------------------------------
NEWMAN TRUCKEE WATERTOWN CALDWELL CARROLTON SALYERSVILLE MADISON HGTS.
CA CA CT ID KY KY MI
- ----------------------------------------------------------------------------------------------------------------------------------
3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25 2,284,849.43 2,066,298.88 2,831,226.53
- ----------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
80 81 82 83 84 85 86
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------------------------------------
MERRIMACK MILFORD CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL
NH NH NJ NV NY NY NY
- --------------------------------------------------------------------------------------------------------------------------------
2,036,495.42 2,334,519.95 4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98
- --------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
87 88 89
-- -- --
RITE AID RITE AID RITE AID
- ---------------------------------------------------------
CHAMPLAIN RAVENA CLEVELAND
NY NY OH
- ---------------------------------------------------------
1,887,483.88 2,086,167.38 2,607,708.50
- ---------------------------------------------------------
6.739% 6.739% 6.739%
- ---------------------------------------------------------
10TH 10TH 10TH
- ---------------------------------------------------------
<S> <C> <C>
0.00 0.00 0.00
</TABLE>
Page 30
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
90 91 92 93 94 95 96 97
-- -- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON
OH OH OH OR OR PA PA TN
- ------------------------------------------------------------------------------------------------------------------------------
2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
3,587.59 3,424.51 3,978.96 3,130.98 7,957.92 3,450.61 3,346.24 2,530.88
3,607.73 3,443.75 4,001.30 3,148.57 8,002.61 3,469.98 3,365.03 2,545.09
3,627.99 3,463.08 4,023.77 3,166.25 8,047.55 3,489.47 3,383.93 2,559.38
3,648.37 3,482.53 4,046.37 3,184.03 8,092.74 3,509.07 3,402.93 2,573.76
3,668.86 3,502.09 4,069.09 3,201.91 8,138.19 3,528.77 3,422.04 2,588.21
3,689.46 3,521.76 4,091.95 3,219.89 8,183.89 3,548.59 3,441.26 2,602.75
3,710.18 3,541.53 4,114.93 3,237.97 8,229.85 3,568.52 3,460.58 2,617.36
3,731.02 3,561.42 4,138.03 3,256.16 8,276.07 3,588.56 3,480.02 2,632.06
3,751.97 3,581.42 4,161.27 3,274.44 8,322.55 3,608.71 3,499.56 2,646.84
3,773.04 3,601.54 4,184.64 3,292.83 8,369.28 3,628.98 3,519.21 2,661.71
3,794.23 3,621.76 4,208.14 3,311.33 8,416.28 3,649.36 3,538.98 2,676.65
3,815.54 3,642.10 4,231.77 3,329.92 8,463.55 3,669.85 3,558.85 2,691.69
3,836.96 3,662.55 4,255.54 3,348.62 8,511.08 3,690.46 3,578.84 2,706.80
3,858.51 3,683.12 4,279.44 3,367.43 8,558.88 3,711.19 3,598.94 2,722.00
3,880.18 3,703.81 4,303.47 3,386.34 8,606.94 3,732.03 3,619.15 2,737.29
3,901.97 3,724.61 4,327.64 3,405.35 8,655.28 3,752.99 3,639.47 2,752.66
3,923.88 3,745.52 4,351.94 3,424.48 8,703.88 3,774.06 3,659.91 2,768.12
3,945.92 3,766.56 4,376.38 3,443.71 8,752.76 3,795.26 3,680.46 2,783.67
3,968.08 3,787.71 4,400.96 3,463.05 8,801.92 3,816.57 3,701.13 2,799.30
3,990.36 3,808.98 4,425.67 3,482.50 8,851.35 3,838.00 3,721.92 2,815.02
4,012.77 3,830.37 4,450.53 3,502.05 8,901.05 3,859.56 3,742.82 2,830.83
4,035.31 3,851.88 4,475.52 3,521.72 8,951.04 3,881.23 3,763.84 2,846.72
4,057.97 3,873.51 4,500.65 3,541.50 9,001.31 3,903.03 3,784.98 2,862.71
4,080.76 3,895.27 4,525.93 3,561.39 9,051.86 3,924.95 3,806.23 2,878.79
4,103.67 3,917.14 4,551.35 3,581.39 9,102.69 3,946.99 3,827.61 2,894.96
4,126.72 3,939.14 4,576.91 3,601.50 9,153.81 3,969.15 3,849.10 2,911.21
4,149.89 3,961.26 4,602.61 3,621.73 9,205.22 3,991.44 3,870.72 2,927.56
4,173.20 3,983.51 4,628.46 3,642.06 9,256.91 4,013.86 3,892.46 2,944.00
4,196.64 4,005.88 4,654.45 3,662.52 9,308.90 4,036.40 3,914.31 2,960.54
4,220.20 4,028.37 4,680.59 3,683.09 9,361.18 4,059.07 3,936.30 2,977.16
4,243.90 4,051.00 4,706.87 3,703.77 9,413.75 4,081.86 3,958.40 2,993.88
4,267.74 4,073.75 4,733.31 3,724.57 9,466.61 4,104.79 3,980.63 3,010.69
4,291.70 4,096.62 4,759.89 3,745.49 9,519.77 4,127.84 4,002.99 3,027.60
4,315.80 4,119.63 4,786.62 3,766.52 9,573.24 4,151.02 4,025.47 3,044.60
4,340.04 4,142.77 4,813.50 3,787.67 9,627.00 4,174.33 4,048.07 3,061.70
4,364.41 4,166.03 4,840.53 3,808.94 9,681.06 4,197.77 4,070.81 3,078.90
4,388.92 4,189.43 4,867.71 3,830.33 9,735.43 4,221.35 4,093.67 3,096.19
4,413.57 4,212.95 4,895.05 3,851.84 9,790.10 4,245.05 4,116.66 3,113.57
4,438.36 4,236.61 4,922.54 3,873.47 9,845.08 4,268.89 4,139.78 3,131.06
4,463.28 4,260.41 4,950.18 3,895.23 9,900.37 4,292.87 4,163.02 3,148.64
4,488.35 4,284.33 4,977.98 3,917.10 9,955.97 4,316.97 4,186.40 3,166.32
4,513.55 4,308.39 5,005.94 3,939.10 10,011.88 4,341.22 4,209.91 3,184.11
4,538.90 4,332.59 5,034.05 3,961.22 10,068.10 4,365.60 4,233.55 3,201.99
4,564.39 4,356.92 5,062.32 3,983.47 10,124.64 4,390.11 4,257.33 3,219.97
4,590.02 4,381.39 5,090.75 4,005.84 10,181.50 4,414.77 4,281.24 3,238.05
4,615.80 4,405.99 5,119.34 4,028.33 10,238.68 4,439.56 4,305.28 3,256.24
4,641.72 4,430.73 5,148.09 4,050.96 10,296.18 4,464.49 4,329.46 3,274.52
<CAPTION>
98 99 100 101 102 103 104 105
-- -- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
WEST VALLEY ROANOKE STAUNTON VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN
UT VA VA VA VT VT WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,377,603.64 2,582,872.52 2,384,190.46 2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
4,435.56 3,391.90 3,130.98 3,783.27 2,504.79 2,152.55 4,435.56 3,391.90
4,460.47 3,410.95 3,148.57 3,804.52 2,518.85 2,164.64 4,460.47 3,410.95
4,485.52 3,430.10 3,166.25 3,825.88 2,533.00 2,176.80 4,485.52 3,430.10
4,510.71 3,449.36 3,184.03 3,847.37 2,547.22 2,189.02 4,510.71 3,449.36
4,536.04 3,468.74 3,201.91 3,868.98 2,561.53 2,201.31 4,536.04 3,468.74
4,561.51 3,488.22 3,219.89 3,890.70 2,575.91 2,213.68 4,561.51 3,488.22
4,587.13 3,507.81 3,237.97 3,912.55 2,590.38 2,226.11 4,587.13 3,507.81
4,612.89 3,527.50 3,256.16 3,934.53 2,604.93 2,238.61 4,612.89 3,527.50
4,638.80 3,547.31 3,274.44 3,956.62 2,619.56 2,251.18 4,638.80 3,547.31
4,664.85 3,567.24 3,292.83 3,978.84 2,634.27 2,263.82 4,664.85 3,567.24
4,691.04 3,587.27 3,311.33 4,001.18 2,649.06 2,276.54 4,691.04 3,587.27
4,717.39 3,607.41 3,329.92 4,023.65 2,663.94 2,289.32 4,717.39 3,607.41
4,743.88 3,627.67 3,348.62 4,046.25 2,678.90 2,302.18 4,743.88 3,627.67
4,770.52 3,648.04 3,367.43 4,068.97 2,693.94 2,315.11 4,770.52 3,648.04
4,797.31 3,668.53 3,386.34 4,091.82 2,709.07 2,328.11 4,797.31 3,668.53
4,824.25 3,689.13 3,405.35 4,114.80 2,724.28 2,341.18 4,824.25 3,689.13
4,851.35 3,709.85 3,424.48 4,137.91 2,739.58 2,354.33 4,851.35 3,709.85
4,878.59 3,730.69 3,443.71 4,161.15 2,754.97 2,367.55 4,878.59 3,730.69
4,905.99 3,751.64 3,463.05 4,184.52 2,770.44 2,380.85 4,905.99 3,751.64
4,933.54 3,772.70 3,482.50 4,208.02 2,786.00 2,394.22 4,933.54 3,772.70
4,961.24 3,793.89 3,502.05 4,231.65 2,801.64 2,407.66 4,961.24 3,793.89
4,989.11 3,815.20 3,521.72 4,255.41 2,817.38 2,421.18 4,989.11 3,815.20
5,017.12 3,836.62 3,541.50 4,279.31 2,833.20 2,434.78 5,017.12 3,836.62
5,045.30 3,858.17 3,561.39 4,303.34 2,849.11 2,448.45 5,045.30 3,858.17
5,073.63 3,879.84 3,581.39 4,327.51 2,865.11 2,462.20 5,073.63 3,879.84
5,102.13 3,901.62 3,601.50 4,351.81 2,881.20 2,476.03 5,102.13 3,901.62
5,130.78 3,923.53 3,621.73 4,376.25 2,897.38 2,489.94 5,130.78 3,923.53
5,159.59 3,945.57 3,642.06 4,400.83 2,913.65 2,503.92 5,159.59 3,945.57
5,188.57 3,967.73 3,662.52 4,425.54 2,930.01 2,517.98 5,188.57 3,967.73
5,217.71 3,990.01 3,683.09 4,450.40 2,946.47 2,532.12 5,217.71 3,990.01
5,247.01 4,012.42 3,703.77 4,475.39 2,963.02 2,546.34 5,247.01 4,012.42
5,276.47 4,034.95 3,724.57 4,500.52 2,979.65 2,560.64 5,276.47 4,034.95
5,306.10 4,057.61 3,745.49 4,525.80 2,996.39 2,575.02 5,306.10 4,057.61
5,335.90 4,080.40 3,766.52 4,551.21 3,013.22 2,589.48 5,335.90 4,080.40
5,365.87 4,103.31 3,787.67 4,576.77 3,030.14 2,604.02 5,365.87 4,103.31
5,396.00 4,126.35 3,808.94 4,602.47 3,047.15 2,618.65 5,396.00 4,126.35
5,426.31 4,149.53 3,830.33 4,628.32 3,064.27 2,633.35 5,426.31 4,149.53
5,456.78 4,172.83 3,851.84 4,654.31 3,081.47 2,648.14 5,456.78 4,172.83
5,487.42 4,196.26 3,873.47 4,680.45 3,098.78 2,663.01 5,487.42 4,196.26
5,518.24 4,219.83 3,895.23 4,706.73 3,116.18 2,677.97 5,518.24 4,219.83
5,549.23 4,243.53 3,917.10 4,733.17 3,133.68 2,693.01 5,549.23 4,243.53
5,580.39 4,267.36 3,939.10 4,759.75 3,151.28 2,708.13 5,580.39 4,267.36
5,611.73 4,291.32 3,961.22 4,786.48 3,168.98 2,723.34 5,611.73 4,291.32
5,643.25 4,315.42 3,983.47 4,813.36 3,186.77 2,738.63 5,643.25 4,315.42
5,674.94 4,339.66 4,005.84 4,840.39 3,204.67 2,754.01 5,674.94 4,339.66
5,706.81 4,364.03 4,028.33 4,867.57 3,222.67 2,769.48 5,706.81 4,364.03
5,738.86 4,388.53 4,050.96 4,894.91 3,240.76 2,785.03 5,738.86 4,388.53
<CAPTION>
106
---
RITE AID
- -----------------
YAKIMA
WA
- -----------------
4,172,333.31
- -----------------
6.739%
- -----------------
10TH
- -----------------
<S>
5,479.22
5,509.99
5,540.94
5,572.05
5,603.34
5,634.81
5,666.46
5,698.28
5,730.28
5,762.46
5,794.82
5,827.36
5,860.09
5,893.00
5,926.09
5,959.37
5,992.84
6,026.49
6,060.34
6,094.37
6,128.59
6,163.01
6,197.62
6,232.43
6,267.43
6,302.62
6,338.02
6,373.61
6,409.41
6,445.40
6,481.60
6,518.00
6,554.60
6,591.41
6,628.43
6,665.65
6,703.08
6,740.73
6,778.58
6,816.65
6,854.93
6,893.43
6,932.14
6,971.07
7,010.22
7,049.58
7,089.17
</TABLE>
Page 31
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
90 91 92 93 94 95 96 97
-- -- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON
OH OH OH OR OR PA PA TN
- ------------------------------------------------------------------------------------------------------------------------------
2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
4,667.79 4,455.62 5,177.00 4,073.71 10,354.00 4,489.56 4,353.77 3,292.91
4,694.00 4,480.64 5,206.07 4,096.58 10,412.15 4,514.78 4,378.22 3,311.40
4,720.36 4,505.80 5,235.31 4,119.59 10,470.62 4,540.13 4,402.81 3,330.00
4,746.87 4,531.10 5,264.71 4,142.72 10,529.42 4,565.63 4,427.53 3,348.70
4,773.53 4,556.55 5,294.28 4,165.99 10,588.55 4,591.27 4,452.40 3,367.51
4,800.34 4,582.14 5,324.01 4,189.38 10,648.02 4,617.05 4,477.40 3,386.42
4,827.29 4,607.87 5,353.91 4,212.91 10,707.81 4,642.98 4,502.55 3,405.44
4,854.40 4,633.75 5,383.97 4,236.57 10,767.95 4,669.05 4,527.83 3,424.56
4,881.67 4,659.77 5,414.21 4,260.36 10,828.42 4,695.27 4,553.26 3,443.79
4,909.08 4,685.94 5,444.61 4,284.29 10,889.23 4,721.64 4,578.83 3,463.13
4,936.65 4,712.25 5,475.19 4,308.35 10,950.38 4,748.16 4,604.54 3,482.58
4,964.37 4,738.72 5,505.94 4,332.54 11,011.88 4,774.82 4,630.40 3,502.14
4,992.25 4,765.33 5,536.86 4,356.87 11,073.72 4,801.64 4,656.41 3,521.81
5,020.29 4,792.09 5,567.95 4,381.34 11,135.91 4,828.60 4,682.56 3,541.58
5,048.48 4,819.00 5,599.22 4,405.95 11,198.44 4,855.72 4,708.85 3,561.47
5,076.83 4,846.07 5,630.67 4,430.69 11,261.33 4,882.99 4,735.30 3,581.47
5,105.34 4,873.28 5,662.29 4,455.57 11,324.57 4,910.41 4,761.89 3,601.59
5,134.01 4,900.65 5,694.09 4,480.59 11,388.17 4,937.99 4,788.63 3,621.81
5,162.84 4,928.17 5,726.06 4,505.75 11,452.12 4,965.72 4,815.52 3,642.15
5,191.84 4,955.84 5,758.22 4,531.06 11,516.44 4,993.60 4,842.57 3,662.61
5,220.99 4,983.68 5,790.56 4,556.50 11,581.11 5,021.65 4,869.76 3,683.17
5,250.31 5,011.66 5,823.07 4,582.09 11,646.15 5,049.85 4,897.11 3,703.86
5,279.80 5,039.81 5,855.78 4,607.82 11,711.55 5,078.21 4,924.61 3,724.66
5,309.45 5,068.11 5,888.66 4,633.70 11,777.32 5,106.73 4,952.27 3,745.58
5,339.27 5,096.57 5,921.73 4,659.72 11,843.46 5,135.40 4,980.08 3,766.61
5,369.25 5,125.19 5,954.99 4,685.89 11,909.97 5,164.24 5,008.05 3,787.76
5,399.40 5,153.98 5,988.43 4,712.21 11,976.86 5,193.24 5,036.17 3,809.03
5,429.73 5,182.92 6,022.06 4,738.67 12,044.12 5,222.41 5,064.45 3,830.42
5,460.22 5,212.03 6,055.88 4,765.28 12,111.76 5,251.74 5,092.89 3,851.94
5,490.88 5,241.30 6,089.89 4,792.04 12,179.77 5,281.23 5,121.49 3,873.57
5,521.72 5,270.73 6,124.09 4,818.95 12,248.17 5,310.89 5,150.26 3,895.32
5,552.73 5,300.33 6,158.48 4,846.02 12,316.96 5,340.71 5,179.18 3,917.20
5,583.91 5,330.10 6,193.06 4,873.23 12,386.13 5,370.71 5,208.26 3,939.19
5,615.27 5,360.03 6,227.84 4,900.60 12,455.68 5,400.87 5,237.51 3,961.32
5,646.80 5,390.13 6,262.82 4,928.12 12,525.63 5,431.20 5,266.93 3,983.56
5,678.51 5,420.40 6,297.99 4,955.79 12,595.98 5,461.70 5,296.50 4,005.93
5,710.40 5,450.84 6,333.36 4,983.62 12,666.71 5,492.37 5,326.25 4,028.43
5,742.47 5,481.45 6,368.92 5,011.61 12,737.85 5,523.21 5,356.16 4,051.05
5,774.72 5,512.23 6,404.69 5,039.76 12,809.38 5,554.23 5,386.24 4,073.80
5,807.15 5,543.19 6,440.66 5,068.06 12,881.32 5,585.42 5,416.49 4,096.68
5,839.76 5,574.32 6,476.83 5,096.52 12,953.65 5,616.79 5,446.90 4,119.69
5,872.56 5,605.62 6,513.20 5,125.14 13,026.40 5,648.33 5,477.49 4,142.82
5,905.54 5,637.10 6,549.78 5,153.92 13,099.55 5,680.05 5,508.25 4,166.09
5,938.70 5,668.76 6,586.56 5,182.87 13,173.12 5,711.95 5,539.19 4,189.48
5,972.05 5,700.60 6,623.55 5,211.97 13,247.10 5,744.03 5,570.29 4,213.01
6,005.59 5,732.61 6,660.75 5,241.24 13,321.49 5,776.29 5,601.58 4,236.67
6,039.32 5,764.80 6,698.15 5,270.68 13,396.30 5,808.73 5,633.03 4,260.46
6,073.23 5,797.18 6,735.77 5,300.28 13,471.53 5,841.35 5,664.67 4,284.39
6,107.34 5,829.73 6,773.59 5,330.04 13,547.19 5,874.15 5,696.48 4,308.45
6,141.64 5,862.47 6,811.63 5,359.97 13,623.27 5,907.14 5,728.47 4,332.65
6,176.13 5,895.39 6,849.89 5,390.07 13,699.77 5,940.31 5,760.64 4,356.98
6,210.81 5,928.50 6,888.35 5,420.34 13,776.71 5,973.67 5,792.99 4,381.45
6,245.69 5,961.80 6,927.04 5,450.78 13,854.08 6,007.22 5,825.52 4,406.05
6,280.77 5,995.28 6,965.94 5,481.39 13,931.88 6,040.95 5,858.24 4,430.79
6,316.04 6,028.94 7,005.06 5,512.18 14,010.12 6,074.88 5,891.14 4,455.68
6,351.51 6,062.80 7,044.40 5,543.13 14,088.80 6,109.00 5,924.22 4,480.70
6,387.18 6,096.85 7,083.96 5,574.26 14,167.92 6,143.30 5,957.49 4,505.86
6,423.05 6,131.09 7,123.74 5,605.57 14,247.48 6,177.80 5,990.95 4,531.17
6,459.12 6,165.52 7,163.75 5,637.05 14,327.49 6,212.50 6,024.59 4,556.61
6,495.39 6,200.14 7,203.98 5,668.70 14,407.95 6,247.38 6,058.42 4,582.20
6,531.87 6,234.96 7,244.43 5,700.54 14,488.87 6,282.47 6,092.45 4,607.93
6,568.55 6,269.98 7,285.12 5,732.55 14,570.23 6,317.75 6,126.66 4,633.81
6,605.44 6,305.19 7,326.03 5,764.74 14,652.06 6,353.23 6,161.07 4,659.84
<CAPTION>
98 99 100 101 102 103 104 105
-- -- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
WEST VALLEY ROANOKE STAUNTON VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN
UT VA VA VA VT VT WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,377,603.64 2,582,872.52 2,384,190.46 2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
5,771.08 4,413.18 4,073.71 4,922.39 3,258.96 2,800.67 5,771.08 4,413.18
5,803.49 4,437.96 4,096.58 4,950.04 3,277.27 2,816.40 5,803.49 4,437.96
5,836.08 4,462.89 4,119.59 4,977.84 3,295.67 2,832.22 5,836.08 4,462.89
5,868.86 4,487.95 4,142.72 5,005.79 3,314.18 2,848.12 5,868.86 4,487.95
5,901.82 4,513.15 4,165.99 5,033.90 3,332.79 2,864.12 5,901.82 4,513.15
5,934.96 4,538.50 4,189.38 5,062.17 3,351.51 2,880.20 5,934.96 4,538.50
5,968.29 4,563.99 4,212.91 5,090.60 3,370.33 2,896.38 5,968.29 4,563.99
6,001.81 4,589.62 4,236.57 5,119.19 3,389.26 2,912.64 6,001.81 4,589.62
6,035.51 4,615.39 4,260.36 5,147.94 3,408.29 2,929.00 6,035.51 4,615.39
6,069.41 4,641.31 4,284.29 5,176.85 3,427.43 2,945.45 6,069.41 4,641.31
6,103.49 4,667.37 4,308.35 5,205.92 3,446.68 2,961.99 6,103.49 4,667.37
6,137.77 4,693.59 4,332.54 5,235.16 3,466.03 2,978.62 6,137.77 4,693.59
6,172.24 4,719.94 4,356.87 5,264.55 3,485.50 2,995.35 6,172.24 4,719.94
6,206.90 4,746.45 4,381.34 5,294.12 3,505.07 3,012.17 6,206.90 4,746.45
6,241.76 4,773.11 4,405.95 5,323.85 3,524.76 3,029.09 6,241.76 4,773.11
6,276.81 4,799.91 4,430.69 5,353.75 3,544.55 3,046.10 6,276.81 4,799.91
6,312.06 4,826.87 4,455.57 5,383.81 3,564.46 3,063.21 6,312.06 4,826.87
6,347.51 4,853.97 4,480.59 5,414.05 3,584.47 3,080.41 6,347.51 4,853.97
6,383.15 4,881.23 4,505.75 5,444.45 3,604.60 3,097.71 6,383.15 4,881.23
6,419.00 4,908.64 4,531.06 5,475.03 3,624.85 3,115.10 6,419.00 4,908.64
6,455.05 4,936.21 4,556.50 5,505.78 3,645.20 3,132.60 6,455.05 4,936.21
6,491.30 4,963.93 4,582.09 5,536.69 3,665.67 3,150.19 6,491.30 4,963.93
6,527.75 4,991.81 4,607.82 5,567.79 3,686.26 3,167.88 6,527.75 4,991.81
6,564.41 5,019.84 4,633.70 5,599.06 3,706.96 3,185.67 6,564.41 5,019.84
6,601.28 5,048.03 4,659.72 5,630.50 3,727.78 3,203.56 6,601.28 5,048.03
6,638.35 5,076.38 4,685.89 5,662.12 3,748.71 3,221.55 6,638.35 5,076.38
6,675.63 5,104.89 4,712.21 5,693.92 3,769.77 3,239.64 6,675.63 5,104.89
6,713.12 5,133.56 4,738.67 5,725.89 3,790.94 3,257.84 6,713.12 5,133.56
6,750.82 5,162.39 4,765.28 5,758.05 3,812.22 3,276.13 6,750.82 5,162.39
6,788.73 5,191.38 4,792.04 5,790.38 3,833.63 3,294.53 6,788.73 5,191.38
6,826.85 5,220.53 4,818.95 5,822.90 3,855.16 3,313.03 6,826.85 5,220.53
6,865.19 5,249.85 4,846.02 5,855.60 3,876.81 3,331.64 6,865.19 5,249.85
6,903.74 5,279.33 4,873.23 5,888.49 3,898.58 3,350.35 6,903.74 5,279.33
6,942.51 5,308.98 4,900.60 5,921.56 3,920.48 3,369.16 6,942.51 5,308.98
6,981.50 5,338.79 4,928.12 5,954.81 3,942.49 3,388.08 6,981.50 5,338.79
7,020.71 5,368.78 4,955.79 5,988.25 3,964.64 3,407.11 7,020.71 5,368.78
7,060.14 5,398.93 4,983.62 6,021.88 3,986.90 3,426.24 7,060.14 5,398.93
7,099.78 5,429.25 5,011.61 6,055.70 4,009.29 3,445.48 7,099.78 5,429.25
7,139.66 5,459.73 5,039.76 6,089.71 4,031.81 3,464.83 7,139.66 5,459.73
7,179.75 5,490.40 5,068.06 6,123.90 4,054.45 3,484.29 7,179.75 5,490.40
7,220.07 5,521.23 5,096.52 6,158.30 4,077.22 3,503.86 7,220.07 5,521.23
7,260.62 5,552.24 5,125.14 6,192.88 4,100.11 3,523.54 7,260.62 5,552.24
7,301.39 5,583.42 5,153.92 6,227.66 4,123.14 3,543.32 7,301.39 5,583.42
7,342.40 5,614.77 5,182.87 6,262.63 4,146.29 3,563.22 7,342.40 5,614.77
7,383.63 5,646.30 5,211.97 6,297.80 4,169.58 3,583.23 7,383.63 5,646.30
7,425.09 5,678.01 5,241.24 6,333.17 4,192.99 3,603.36 7,425.09 5,678.01
7,466.79 5,709.90 5,270.68 6,368.73 4,216.54 3,623.59 7,466.79 5,709.90
7,508.72 5,741.96 5,300.28 6,404.50 4,240.22 3,643.94 7,508.72 5,741.96
7,550.89 5,774.21 5,330.04 6,440.47 4,264.03 3,664.40 7,550.89 5,774.21
7,593.30 5,806.64 5,359.97 6,476.64 4,287.98 3,684.98 7,593.30 5,806.64
7,635.94 5,839.25 5,390.07 6,513.01 4,312.06 3,705.68 7,635.94 5,839.25
7,678.82 5,872.04 5,420.34 6,549.58 4,336.28 3,726.49 7,678.82 5,872.04
7,721.95 5,905.01 5,450.78 6,586.36 4,360.63 3,747.41 7,721.95 5,905.01
7,765.31 5,938.18 5,481.39 6,623.35 4,385.12 3,768.46 7,765.31 5,938.18
7,808.92 5,971.52 5,512.18 6,660.55 4,409.74 3,789.62 7,808.92 5,971.52
7,852.77 6,005.06 5,543.13 6,697.95 4,434.51 3,810.90 7,852.77 6,005.06
7,896.87 6,038.78 5,574.26 6,735.57 4,459.41 3,832.31 7,896.87 6,038.78
7,941.22 6,072.70 5,605.57 6,773.39 4,484.45 3,853.83 7,941.22 6,072.70
7,985.82 6,106.80 5,637.05 6,811.43 4,509.64 3,875.47 7,985.82 6,106.80
8,030.66 6,141.09 5,668.70 6,849.68 4,534.96 3,897.23 8,030.66 6,141.09
8,075.76 6,175.58 5,700.54 6,888.15 4,560.43 3,919.12 8,075.76 6,175.58
8,121.11 6,210.26 5,732.55 6,926.83 4,586.04 3,941.13 8,121.11 6,210.26
8,166.72 6,245.14 5,764.74 6,965.73 4,611.79 3,963.26 8,166.72 6,245.14
<CAPTION>
106
---
RITE AID
- -----------------
YAKIMA
WA
- -----------------
4,172,333.31
- -----------------
6.739%
- -----------------
10TH
- -----------------
<S>
7,128.98
7,169.02
7,209.28
7,249.77
7,290.48
7,331.42
7,372.59
7,414.00
7,455.63
7,497.50
7,539.61
7,581.95
7,624.53
7,667.35
7,710.40
7,753.70
7,797.25
7,841.04
7,885.07
7,929.35
7,973.88
8,018.66
8,063.69
8,108.98
8,154.52
8,200.31
8,246.36
8,292.67
8,339.24
8,386.07
8,433.17
8,480.53
8,528.15
8,576.05
8,624.21
8,672.64
8,721.34
8,770.32
8,819.57
8,869.10
8,918.91
8,969.00
9,019.37
9,070.02
9,120.95
9,172.17
9,223.68
9,275.48
9,327.57
9,379.95
9,432.63
9,485.60
9,538.87
9,592.44
9,646.31
9,700.48
9,754.96
9,809.74
9,864.83
9,920.23
9,975.94
10,031.96
10,088.30
</TABLE>
Page 32
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
90 91 92 93 94 95 96 97
-- -- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON
OH OH OH OR OR PA PA TN
- ------------------------------------------------------------------------------------------------------------------------------
2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6,642.53 6,340.60 7,367.17 5,797.12 14,734.34 6,388.91 6,195.67 4,686.00
6,679.84 6,376.21 7,408.54 5,829.67 14,817.09 6,424.79 6,230.46 4,712.32
6,717.35 6,412.01 7,450.15 5,862.41 14,900.30 6,460.87 6,265.45 4,738.78
6,755.07 6,448.02 7,491.99 5,895.33 14,983.97 6,497.15 6,300.64 4,765.40
6,793.01 6,484.23 7,534.06 5,928.44 15,068.12 6,533.64 6,336.02 4,792.16
6,831.16 6,520.65 7,576.37 5,961.73 15,152.74 6,570.33 6,371.60 4,819.07
6,869.52 6,557.27 7,618.92 5,995.21 15,237.84 6,607.23 6,407.38 4,846.13
6,908.10 6,594.09 7,661.70 6,028.88 15,323.41 6,644.33 6,443.37 4,873.35
6,946.89 6,631.12 7,704.73 6,062.74 15,409.46 6,681.65 6,479.55 4,900.72
6,985.90 6,668.36 7,748.00 6,096.79 15,496.00 6,719.17 6,515.94 4,928.24
7,025.14 6,705.81 7,791.51 6,131.03 15,583.02 6,756.90 6,552.53 4,955.91
7,064.59 6,743.47 7,835.27 6,165.46 15,670.53 6,794.85 6,589.33 4,983.74
7,104.26 6,781.34 7,879.27 6,200.08 15,758.54 6,833.01 6,626.33 5,011.73
7,144.16 6,819.42 7,923.52 6,234.90 15,847.03 6,871.38 6,663.55 5,039.88
7,184.28 6,857.72 7,968.01 6,269.91 15,936.03 6,909.97 6,700.97 5,068.18
7,224.62 6,896.23 8,012.76 6,305.12 16,025.52 6,948.77 6,738.60 5,096.64
7,265.20 6,934.96 8,057.76 6,340.53 16,115.52 6,987.80 6,776.44 5,125.26
7,306.00 6,973.90 8,103.01 6,376.14 16,206.02 7,027.04 6,814.50 5,154.05
7,347.02 7,013.07 8,148.52 6,411.95 16,297.03 7,066.50 6,852.77 5,182.99
7,388.28 7,052.45 8,194.28 6,447.96 16,388.55 7,106.19 6,891.25 5,212.10
7,429.78 7,092.06 8,240.29 6,484.17 16,480.59 7,146.09 6,929.95 5,241.37
7,471.50 7,131.89 8,286.57 6,520.58 16,573.14 7,186.22 6,968.87 5,270.80
7,513.46 7,171.94 8,333.11 6,557.20 16,666.21 7,226.58 7,008.00 5,300.40
7,555.65 7,212.21 8,379.90 6,594.02 16,759.81 7,267.16 7,047.36 5,330.17
7,598.08 7,252.72 8,426.96 6,631.05 16,853.93 7,307.98 7,086.94 5,360.10
7,640.75 7,293.45 8,474.29 6,668.29 16,948.58 7,349.02 7,126.74 5,390.20
7,683.66 7,334.40 8,521.88 6,705.74 17,043.76 7,390.29 7,166.76 5,420.47
7,726.81 7,375.59 8,569.74 6,743.40 17,139.47 7,431.79 7,207.01 5,450.92
7,770.21 7,417.01 8,617.86 6,781.27 17,235.72 7,473.52 7,247.48 5,481.53
7,813.84 7,458.67 8,666.26 6,819.35 17,332.52 7,515.49 7,288.18 5,512.31
7,857.72 7,500.55 8,714.93 6,857.65 17,429.85 7,557.70 7,329.11 5,543.27
7,901.85 7,542.67 8,763.87 6,896.16 17,527.74 7,600.14 7,370.27 5,574.40
7,946.23 7,585.03 8,813.09 6,934.89 17,626.17 7,642.82 7,411.66 5,605.70
7,990.85 7,627.63 8,862.58 6,973.83 17,725.16 7,685.75 7,453.28 5,637.18
8,035.73 7,670.46 8,912.35 7,013.00 17,824.70 7,728.91 7,495.14 5,668.84
8,080.85 7,713.54 8,962.40 7,052.38 17,924.80 7,772.31 7,537.23 5,700.67
8,126.23 7,756.86 9,012.73 7,091.98 18,025.46 7,815.96 7,579.56 5,732.69
8,171.87 7,800.42 9,063.34 7,131.81 18,126.69 7,859.85 7,622.12 5,764.88
8,217.76 7,844.23 9,114.24 7,171.86 18,228.49 7,903.99 7,664.93 5,797.26
8,263.91 7,888.28 9,165.43 7,212.14 18,330.85 7,948.38 7,707.97 5,829.81
8,310.32 7,932.58 9,216.90 7,252.64 18,433.80 7,993.02 7,751.26 5,862.55
8,356.99 7,977.13 9,268.66 7,293.37 18,537.32 8,037.90 7,794.79 5,895.48
8,403.92 8,021.92 9,320.71 7,334.33 18,641.42 8,083.04 7,838.56 5,928.58
8,451.12 8,066.97 9,373.05 7,375.52 18,746.11 8,128.44 7,882.58 5,961.88
8,498.58 8,112.28 9,425.69 7,416.94 18,851.38 8,174.08 7,926.85 5,995.36
8,546.30 8,157.83 9,478.62 7,458.59 18,957.25 8,219.99 7,971.37 6,029.03
8,594.30 8,203.65 9,531.85 7,500.48 19,063.71 8,266.15 8,016.13 6,062.89
8,642.56 8,249.72 9,585.38 7,542.60 19,170.77 8,312.57 8,061.15 6,096.93
8,691.10 8,296.05 9,639.21 7,584.96 19,278.43 8,359.25 8,106.42 6,131.17
8,739.90 8,342.63 9,693.35 7,627.55 19,386.69 8,406.20 8,151.94 6,165.60
8,788.99 8,389.49 9,747.78 7,670.39 19,495.56 8,453.41 8,197.72 6,200.23
8,838.34 8,436.60 9,802.52 7,713.46 19,605.05 8,500.88 8,243.76 6,235.05
8,887.98 8,483.98 9,857.57 7,756.78 19,715.15 8,548.62 8,290.06 6,270.06
8,937.89 8,531.62 9,912.93 7,800.34 19,825.86 8,596.63 8,336.61 6,305.28
8,988.09 8,579.53 9,968.60 7,844.15 19,937.20 8,644.90 8,383.43 6,340.69
9,038.56 8,627.72 10,024.58 7,888.20 20,049.17 8,693.45 8,430.51 6,376.29
9,089.32 8,676.17 10,080.88 7,932.50 20,161.76 8,742.27 8,477.85 6,412.10
9,140.36 8,724.89 10,137.49 7,977.04 20,274.98 8,791.37 8,525.46 6,448.11
9,191.69 8,773.89 10,194.42 8,021.84 20,388.85 8,840.74 8,573.34 6,484.32
9,243.31 8,823.16 10,251.67 8,066.89 20,503.35 8,890.39 8,621.49 6,520.74
9,295.22 8,872.71 10,309.24 8,112.19 20,618.49 8,940.31 8,669.90 6,557.36
9,347.42 8,922.54 10,367.14 8,157.75 20,734.28 8,990.52 8,718.59 6,594.18
9,399.92 8,972.65 10,425.36 8,203.56 20,850.72 9,041.01 8,767.56 6,631.21
<CAPTION>
98 99 100 101 102 103 104 105
-- -- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
WEST VALLEY ROANOKE STAUNTON VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN
UT VA VA VA VT VT WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,377,603.64 2,582,872.52 2,384,190.46 2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
8,212.58 6,280.21 5,797.12 7,004.85 4,637.69 3,985.52 8,212.58 6,280.21
8,258.70 6,315.48 5,829.67 7,044.19 4,663.74 4,007.90 8,258.70 6,315.48
8,305.08 6,350.94 5,862.41 7,083.75 4,689.93 4,030.41 8,305.08 6,350.94
8,351.72 6,386.61 5,895.33 7,123.53 4,716.27 4,053.04 8,351.72 6,386.61
8,398.63 6,422.48 5,928.44 7,163.53 4,742.75 4,075.80 8,398.63 6,422.48
8,445.79 6,458.54 5,961.73 7,203.76 4,769.39 4,098.69 8,445.79 6,458.54
8,493.22 6,494.81 5,995.21 7,244.22 4,796.17 4,121.71 8,493.22 6,494.81
8,540.92 6,531.29 6,028.88 7,284.90 4,823.11 4,144.86 8,540.92 6,531.29
8,588.88 6,567.97 6,062.74 7,325.81 4,850.19 4,168.13 8,588.88 6,567.97
8,637.12 6,604.85 6,096.79 7,366.95 4,877.43 4,191.54 8,637.12 6,604.85
8,685.62 6,641.94 6,131.03 7,408.32 4,904.82 4,215.08 8,685.62 6,641.94
8,734.40 6,679.24 6,165.46 7,449.93 4,932.37 4,238.75 8,734.40 6,679.24
8,783.45 6,716.75 6,200.08 7,491.76 4,960.06 4,262.56 8,783.45 6,716.75
8,832.78 6,754.47 6,234.90 7,533.84 4,987.92 4,286.49 8,832.78 6,754.47
8,882.38 6,792.40 6,269.91 7,576.15 5,015.93 4,310.57 8,882.38 6,792.40
8,932.26 6,830.55 6,305.12 7,618.69 5,044.10 4,334.77 8,932.26 6,830.55
8,982.42 6,868.91 6,340.53 7,661.48 5,072.43 4,359.12 8,982.42 6,868.91
9,032.87 6,907.48 6,376.14 7,704.50 5,100.91 4,383.60 9,032.87 6,907.48
9,083.59 6,946.28 6,411.95 7,747.77 5,129.56 4,408.21 9,083.59 6,946.28
9,134.61 6,985.28 6,447.96 7,791.28 5,158.36 4,432.97 9,134.61 6,985.28
9,185.90 7,024.51 6,484.17 7,835.04 5,187.33 4,457.87 9,185.90 7,024.51
9,237.49 7,063.96 6,520.58 7,879.04 5,216.46 4,482.90 9,237.49 7,063.96
9,289.37 7,103.63 6,557.20 7,923.28 5,245.76 4,508.08 9,289.37 7,103.63
9,341.53 7,143.52 6,594.02 7,967.78 5,275.22 4,533.39 9,341.53 7,143.52
9,393.99 7,183.64 6,631.05 8,012.52 5,304.84 4,558.85 9,393.99 7,183.64
9,446.75 7,223.98 6,668.29 8,057.52 5,334.63 4,584.45 9,446.75 7,223.98
9,499.80 7,264.55 6,705.74 8,102.77 5,364.59 4,610.20 9,499.80 7,264.55
9,553.15 7,305.35 6,743.40 8,148.27 5,394.72 4,636.09 9,553.15 7,305.35
9,606.80 7,346.37 6,781.27 8,194.03 5,425.02 4,662.12 9,606.80 7,346.37
9,660.75 7,387.63 6,819.35 8,240.05 5,455.48 4,688.31 9,660.75 7,387.63
9,715.00 7,429.12 6,857.65 8,286.33 5,486.12 4,714.63 9,715.00 7,429.12
9,769.56 7,470.84 6,896.16 8,332.86 5,516.93 4,741.11 9,769.56 7,470.84
9,824.42 7,512.79 6,934.89 8,379.66 5,547.91 4,767.74 9,824.42 7,512.79
9,879.60 7,554.98 6,973.83 8,426.71 5,579.07 4,794.51 9,879.60 7,554.98
9,935.08 7,597.41 7,013.00 8,474.04 5,610.40 4,821.44 9,935.08 7,597.41
9,990.87 7,640.08 7,052.38 8,521.63 5,641.90 4,848.51 9,990.87 7,640.08
10,046.98 7,682.98 7,091.98 8,569.48 5,673.59 4,875.74 10,046.98 7,682.98
10,103.40 7,726.13 7,131.81 8,617.61 5,705.45 4,903.12 10,103.40 7,726.13
10,160.14 7,769.52 7,171.86 8,666.00 5,737.49 4,930.66 10,160.14 7,769.52
10,217.20 7,813.15 7,212.14 8,714.67 5,769.71 4,958.35 10,217.20 7,813.15
10,274.58 7,857.03 7,252.64 8,763.61 5,802.11 4,986.19 10,274.58 7,857.03
10,332.28 7,901.15 7,293.37 8,812.82 5,834.70 5,014.19 10,332.28 7,901.15
10,390.30 7,945.52 7,334.33 8,862.32 5,867.46 5,042.35 10,390.30 7,945.52
10,448.65 7,990.14 7,375.52 8,912.08 5,900.41 5,070.67 10,448.65 7,990.14
10,507.33 8,035.01 7,416.94 8,962.13 5,933.55 5,099.15 10,507.33 8,035.01
10,566.34 8,080.14 7,458.59 9,012.46 5,966.87 5,127.78 10,566.34 8,080.14
10,625.68 8,125.51 7,500.48 9,063.08 6,000.38 5,156.58 10,625.68 8,125.51
10,685.35 8,171.15 7,542.60 9,113.97 6,034.08 5,185.54 10,685.35 8,171.15
10,745.35 8,217.03 7,584.96 9,165.16 6,067.96 5,214.66 10,745.35 8,217.03
10,805.70 8,263.18 7,627.55 9,216.63 6,102.04 5,243.94 10,805.70 8,263.18
10,866.38 8,309.58 7,670.39 9,268.38 6,136.31 5,273.39 10,866.38 8,309.58
10,927.41 8,356.25 7,713.46 9,320.43 6,170.77 5,303.01 10,927.41 8,356.25
10,988.77 8,403.18 7,756.78 9,372.78 6,205.42 5,332.79 10,988.77 8,403.18
11,050.48 8,450.37 7,800.34 9,425.41 6,240.27 5,362.74 11,050.48 8,450.37
11,112.54 8,497.82 7,844.15 9,478.34 6,275.32 5,392.85 11,112.54 8,497.82
11,174.95 8,545.55 7,888.20 9,531.57 6,310.56 5,423.14 11,174.95 8,545.55
11,237.70 8,593.54 7,932.50 9,585.10 6,346.00 5,453.59 11,237.70 8,593.54
11,300.81 8,641.80 7,977.04 9,638.93 6,381.63 5,484.22 11,300.81 8,641.80
11,364.28 8,690.33 8,021.84 9,693.06 6,417.47 5,515.02 11,364.28 8,690.33
11,428.10 8,739.13 8,066.89 9,747.49 6,453.51 5,545.99 11,428.10 8,739.13
11,492.27 8,788.21 8,112.19 9,802.23 6,489.75 5,577.13 11,492.27 8,788.21
11,556.81 8,837.56 8,157.75 9,857.28 6,526.20 5,608.45 11,556.81 8,837.56
11,621.71 8,887.19 8,203.56 9,912.64 6,562.85 5,639.95 11,621.71 8,887.19
<CAPTION>
106
---
RITE AID
- -----------------
YAKIMA
WA
- -----------------
4,172,333.31
- -----------------
6.739%
- -----------------
10TH
- -----------------
<S>
10,144.96
10,201.93
10,259.22
10,316.83
10,374.77
10,433.04
10,491.63
10,550.54
10,609.79
10,669.38
10,729.29
10,789.55
10,850.14
10,911.07
10,972.35
11,033.97
11,095.93
11,158.25
11,220.91
11,283.92
11,347.29
11,411.02
11,475.10
11,539.54
11,604.34
11,669.51
11,735.05
11,800.95
11,867.22
11,933.87
12,000.88
12,068.28
12,136.05
12,204.21
12,272.74
12,341.66
12,410.97
12,480.67
12,550.76
12,621.24
12,692.12
12,763.40
12,835.08
12,907.16
12,979.64
13,052.53
13,125.83
13,199.55
13,273.67
13,348.21
13,423.18
13,498.56
13,574.36
13,650.60
13,727.25
13,804.34
13,881.87
13,959.83
14,038.22
14,117.06
14,196.34
14,276.06
14,356.23
</TABLE>
Page 33
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
90 91 92 93 94 95 96 97
-- -- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON
OH OH OH OR OR PA PA TN
- ------------------------------------------------------------------------------------------------------------------------------
2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
9,452.71 9,023.04 10,483.91 8,249.63 20,967.81 9,091.78 8,816.79 6,668.45
9,505.79 9,073.71 10,542.78 8,295.96 21,085.57 9,142.84 8,866.31 6,705.90
9,559.17 9,124.66 10,601.99 8,342.55 21,203.98 9,194.19 8,916.10 6,743.56
9,612.86 9,175.91 10,661.53 8,389.40 21,323.06 9,245.82 8,966.17 6,781.43
9,666.84 9,227.44 10,721.40 8,436.51 21,442.80 9,297.74 9,016.52 6,819.52
9,721.13 9,279.26 10,781.61 8,483.89 21,563.22 9,349.96 9,067.16 6,857.81
9,775.72 9,331.37 10,842.16 8,531.54 21,684.32 9,402.46 9,118.08 6,896.33
9,830.62 9,383.77 10,903.05 8,579.45 21,806.09 9,455.27 9,169.28 6,935.05
9,885.83 9,436.47 10,964.28 8,627.63 21,928.55 9,508.37 9,220.77 6,974.00
9,941.34 9,489.46 11,025.85 8,676.08 22,051.70 9,561.76 9,272.56 7,013.16
9,997.17 9,542.75 11,087.77 8,724.80 22,175.54 9,615.46 9,324.63 7,052.55
10,053.31 9,596.34 11,150.04 8,773.80 22,300.07 9,669.46 9,377.00 7,092.16
10,109.77 9,650.24 11,212.65 8,823.07 22,425.31 9,723.76 9,429.66 7,131.98
10,166.55 9,704.43 11,275.62 8,872.62 22,551.24 9,778.37 9,482.61 7,172.04
10,223.64 9,758.93 11,338.94 8,922.45 22,677.89 9,833.28 9,535.86 7,212.31
10,281.05 9,813.73 11,402.62 8,972.55 22,805.24 9,888.50 9,589.42 7,252.82
10,338.79 9,868.84 11,466.66 9,022.94 22,933.31 9,944.04 9,643.27 7,293.55
10,396.85 9,924.27 11,531.05 9,073.61 23,062.10 9,999.88 9,697.42 7,334.51
10,455.24 9,980.00 11,595.81 9,124.57 23,191.62 10,056.04 9,751.88 7,375.70
10,513.95 10,036.05 11,660.93 9,175.81 23,321.86 10,112.51 9,806.65 7,417.12
10,573.00 10,092.41 11,726.41 9,227.34 23,452.83 10,169.30 9,861.72 7,458.77
10,632.37 10,149.08 11,792.27 9,279.16 23,584.53 10,226.41 9,917.10 7,500.66
10,692.08 10,206.08 11,858.49 9,331.27 23,716.98 10,283.84 9,972.79 7,542.78
10,752.13 10,263.39 11,925.09 9,383.67 23,850.17 10,341.59 10,028.80 7,585.14
10,812.51 10,321.03 11,992.06 9,436.37 23,984.11 10,399.67 10,085.12 7,627.73
10,873.23 10,378.99 12,059.40 9,489.36 24,118.80 10,458.07 10,141.76 7,670.57
10,934.29 10,437.28 12,127.12 9,542.66 24,254.25 10,516.80 10,198.71 7,713.65
10,995.70 10,495.89 12,195.23 9,596.25 24,390.46 10,575.86 10,255.98 7,756.97
11,057.45 10,554.84 12,263.71 9,650.14 24,527.43 10,635.26 10,313.58 7,800.53
11,119.55 10,614.11 12,332.59 9,704.33 24,665.17 10,694.98 10,371.50 7,844.33
11,181.99 10,673.72 12,401.84 9,758.83 24,803.69 10,755.04 10,429.74 7,888.39
11,244.79 10,733.66 12,471.49 9,813.63 24,942.98 10,815.44 10,488.32 7,932.69
11,307.94 10,793.94 12,541.53 9,868.74 25,083.06 10,876.18 10,547.22 7,977.24
11,371.44 10,854.56 12,611.96 9,924.16 25,223.92 10,937.26 10,606.45 8,022.03
11,435.30 10,915.51 12,682.79 9,979.90 25,365.57 10,998.68 10,666.01 8,067.08
11,499.52 10,976.81 12,754.01 10,035.94 25,508.02 11,060.45 10,725.91 8,112.39
11,564.10 11,038.46 12,825.63 10,092.30 25,651.27 11,122.56 10,786.15 8,157.95
11,629.04 11,100.45 12,897.66 10,148.98 25,795.32 11,185.02 10,846.72 8,203.76
11,694.35 11,162.79 12,970.09 10,205.97 25,940.18 11,247.84 10,907.63 8,249.83
11,760.02 11,225.47 13,042.93 10,263.29 26,085.86 11,311.00 10,968.89 8,296.16
11,826.06 11,288.51 13,116.18 10,320.93 26,232.35 11,374.52 11,030.49 8,342.75
11,892.48 11,351.91 13,189.83 10,378.89 26,379.67 11,438.40 11,092.43 8,389.60
11,959.26 11,415.66 13,263.91 10,437.17 26,527.81 11,502.64 11,154.73 8,436.72
12,026.42 11,479.77 13,338.39 10,495.79 26,676.79 11,567.23 11,217.37 8,484.10
12,093.96 11,544.24 13,413.30 10,554.73 26,826.60 11,632.19 11,280.36 8,531.74
12,161.88 11,609.07 13,488.63 10,614.00 26,977.26 11,697.52 11,343.71 8,579.65
12,230.18 11,674.26 13,564.38 10,673.61 27,128.76 11,763.21 11,407.42 8,627.84
12,298.86 11,739.82 13,640.55 10,733.55 27,281.11 11,829.27 11,471.48 8,676.29
12,367.93 11,805.75 13,717.16 10,793.83 27,434.31 11,895.70 11,535.90 8,725.01
12,437.39 11,872.05 13,794.19 10,854.44 27,588.38 11,962.50 11,600.68 8,774.01
12,507.23 11,938.72 13,871.66 10,915.40 27,743.31 12,029.68 11,665.83 8,823.28
12,577.47 12,005.77 13,949.56 10,976.70 27,899.11 12,097.24 11,731.35 8,872.83
12,648.10 12,073.19 14,027.89 11,038.34 28,055.79 12,165.18 11,797.23 8,922.66
12,719.13 12,140.99 14,106.67 11,100.33 28,213.35 12,233.49 11,863.48 8,972.77
12,790.56 12,209.17 14,185.89 11,162.67 28,371.79 12,302.20 11,930.10 9,023.16
12,862.39 12,277.74 14,265.56 11,225.36 28,531.12 12,371.28 11,997.10 9,073.83
12,934.63 12,346.69 14,345.67 11,288.40 28,691.34 12,440.76 12,064.47 9,124.79
13,007.26 12,416.02 14,426.24 11,351.79 28,852.47 12,510.62 12,132.22 9,176.03
13,080.31 12,485.75 14,507.25 11,415.54 29,014.50 12,580.88 12,200.36 9,227.56
13,153.77 12,555.87 14,588.72 11,479.65 29,177.44 12,651.53 12,268.87 9,279.38
13,227.64 12,626.38 14,670.65 11,544.12 29,341.30 12,722.58 12,337.77 9,331.50
13,301.92 12,697.29 14,753.04 11,608.95 29,506.07 12,794.03 12,407.06 9,383.90
13,376.62 12,768.59 14,835.89 11,674.14 29,671.77 12,865.88 12,476.74 9,436.60
<CAPTION>
98 99 100 101 102 103 104 105
-- -- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
WEST VALLEY ROANOKE STAUNTON VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN
UT VA VA VA VT VT WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,377,603.64 2,582,872.52 2,384,190.46 2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
11,686.98 8,937.10 8,249.63 9,968.31 6,599.71 5,671.62 11,686.98 8,937.10
11,752.61 8,987.29 8,295.96 10,024.29 6,636.77 5,703.47 11,752.61 8,987.29
11,818.61 9,037.76 8,342.55 10,080.58 6,674.04 5,735.50 11,818.61 9,037.76
11,884.98 9,088.51 8,389.40 10,137.19 6,711.52 5,767.71 11,884.98 9,088.51
11,951.73 9,139.55 8,436.51 10,194.12 6,749.21 5,800.10 11,951.73 9,139.55
12,018.85 9,190.88 8,483.89 10,251.37 6,787.11 5,832.68 12,018.85 9,190.88
12,086.34 9,242.49 8,531.54 10,308.94 6,825.23 5,865.43 12,086.34 9,242.49
12,154.22 9,294.40 8,579.45 10,366.83 6,863.56 5,898.37 12,154.22 9,294.40
12,222.47 9,346.59 8,627.63 10,425.05 6,902.10 5,931.50 12,222.47 9,346.59
12,291.11 9,399.08 8,676.08 10,483.60 6,940.86 5,964.81 12,291.11 9,399.08
12,360.14 9,451.87 8,724.80 10,542.47 6,979.84 5,998.30 12,360.14 9,451.87
12,429.55 9,504.95 8,773.80 10,601.68 7,019.04 6,031.99 12,429.55 9,504.95
12,499.35 9,558.33 8,823.07 10,661.21 7,058.46 6,065.86 12,499.35 9,558.33
12,569.55 9,612.00 8,872.62 10,721.08 7,098.10 6,099.93 12,569.55 9,612.00
12,640.14 9,665.98 8,922.45 10,781.29 7,137.96 6,134.18 12,640.14 9,665.98
12,711.12 9,720.27 8,972.55 10,841.84 7,178.04 6,168.63 12,711.12 9,720.27
12,782.50 9,774.85 9,022.94 10,902.72 7,218.35 6,203.27 12,782.50 9,774.85
12,854.29 9,829.75 9,073.61 10,963.95 7,258.89 6,238.11 12,854.29 9,829.75
12,926.48 9,884.95 9,124.57 11,025.52 7,299.66 6,273.14 12,926.48 9,884.95
12,999.07 9,940.46 9,175.81 11,087.44 7,340.65 6,308.37 12,999.07 9,940.46
13,072.07 9,996.29 9,227.34 11,149.71 7,381.87 6,343.80 13,072.07 9,996.29
13,145.48 10,052.42 9,279.16 11,212.32 7,423.33 6,379.42 13,145.48 10,052.42
13,219.30 10,108.88 9,331.27 11,275.29 7,465.02 6,415.25 13,219.30 10,108.88
13,293.54 10,165.65 9,383.67 11,338.61 7,506.94 6,451.28 13,293.54 10,165.65
13,368.19 10,222.73 9,436.37 11,402.28 7,549.10 6,487.51 13,368.19 10,222.73
13,443.27 10,280.14 9,489.36 11,466.32 7,591.49 6,523.94 13,443.27 10,280.14
13,518.76 10,337.87 9,542.66 11,530.71 7,634.12 6,560.58 13,518.76 10,337.87
13,594.68 10,395.93 9,596.25 11,595.46 7,677.00 6,597.42 13,594.68 10,395.93
13,671.03 10,454.31 9,650.14 11,660.58 7,720.11 6,634.47 13,671.03 10,454.31
13,747.80 10,513.02 9,704.33 11,726.07 7,763.46 6,671.73 13,747.80 10,513.02
13,825.01 10,572.06 9,758.83 11,791.92 7,807.06 6,709.20 13,825.01 10,572.06
13,902.65 10,631.43 9,813.63 11,858.14 7,850.91 6,746.87 13,902.65 10,631.43
13,980.72 10,691.14 9,868.74 11,924.73 7,894.99 6,784.76 13,980.72 10,691.14
14,059.24 10,751.18 9,924.16 11,991.70 7,939.33 6,822.86 14,059.24 10,751.18
14,138.19 10,811.55 9,979.90 12,059.04 7,983.92 6,861.18 14,138.19 10,811.55
14,217.59 10,872.27 10,035.94 12,126.76 8,028.75 6,899.71 14,217.59 10,872.27
14,297.43 10,933.33 10,092.30 12,194.87 8,073.84 6,938.46 14,297.43 10,933.33
14,377.72 10,994.73 10,148.98 12,263.35 8,119.18 6,977.42 14,377.72 10,994.73
14,458.47 11,056.47 10,205.97 12,332.22 8,164.78 7,016.61 14,458.47 11,056.47
14,539.66 11,118.56 10,263.29 12,401.48 8,210.63 7,056.01 14,539.66 11,118.56
14,621.31 11,181.00 10,320.93 12,471.12 8,256.74 7,095.64 14,621.31 11,181.00
14,703.43 11,243.79 10,378.89 12,541.16 8,303.11 7,135.49 14,703.43 11,243.79
14,786.00 11,306.94 10,437.17 12,611.59 8,349.74 7,175.56 14,786.00 11,306.94
14,869.03 11,370.43 10,495.79 12,682.41 8,396.63 7,215.85 14,869.03 11,370.43
14,952.53 11,434.29 10,554.73 12,753.63 8,443.78 7,256.38 14,952.53 11,434.29
15,036.51 11,498.50 10,614.00 12,825.25 8,491.20 7,297.13 15,036.51 11,498.50
15,120.95 11,563.07 10,673.61 12,897.28 8,538.89 7,338.11 15,120.95 11,563.07
15,205.87 11,628.01 10,733.55 12,969.71 8,586.84 7,379.32 15,205.87 11,628.01
15,291.26 11,693.31 10,793.83 13,042.54 8,635.06 7,420.76 15,291.26 11,693.31
15,377.13 11,758.98 10,854.44 13,115.79 8,683.56 7,462.43 15,377.13 11,758.98
15,463.49 11,825.02 10,915.40 13,189.44 8,732.32 7,504.34 15,463.49 11,825.02
15,550.33 11,891.42 10,976.70 13,263.51 8,781.36 7,546.48 15,550.33 11,891.42
15,637.66 11,958.20 11,038.34 13,338.00 8,830.67 7,588.86 15,637.66 11,958.20
15,725.47 12,025.36 11,100.33 13,412.90 8,880.27 7,631.48 15,725.47 12,025.36
15,813.79 12,092.89 11,162.67 13,488.23 8,930.14 7,674.34 15,813.79 12,092.89
15,902.59 12,160.80 11,225.36 13,563.98 8,980.29 7,717.44 15,902.59 12,160.80
15,991.90 12,229.10 11,288.40 13,640.15 9,030.72 7,760.78 15,991.90 12,229.10
16,081.71 12,297.77 11,351.79 13,716.75 9,081.43 7,804.36 16,081.71 12,297.77
16,172.02 12,366.83 11,415.54 13,793.78 9,132.43 7,848.19 16,172.02 12,366.83
16,262.84 12,436.28 11,479.65 13,871.24 9,183.72 7,892.26 16,262.84 12,436.28
16,354.17 12,506.12 11,544.12 13,949.14 9,235.29 7,936.58 16,354.17 12,506.12
16,446.01 12,576.36 11,608.95 14,027.48 9,287.16 7,981.15 16,446.01 12,576.36
16,538.37 12,646.98 11,674.14 14,106.25 9,339.31 8,025.97 16,538.37 12,646.98
<CAPTION>
106
---
RITE AID
- -----------------
YAKIMA
WA
- -----------------
4,172,333.31
- -----------------
6.739%
- -----------------
10TH
- -----------------
<S>
14,436.86
14,517.93
14,599.46
14,681.45
14,763.90
14,846.81
14,930.19
15,014.03
15,098.35
15,183.14
15,268.40
15,354.15
15,440.38
15,527.09
15,614.28
15,701.97
15,790.15
15,878.83
15,968.00
16,057.67
16,147.85
16,238.53
16,329.73
16,421.43
16,513.65
16,606.39
16,699.65
16,793.43
16,887.74
16,982.58
17,077.95
17,173.86
17,270.30
17,367.29
17,464.82
17,562.90
17,661.53
17,760.71
17,860.46
17,960.76
18,061.62
18,163.05
18,265.05
18,367.63
18,470.78
18,574.50
18,678.82
18,783.71
18,889.20
18,995.28
19,101.95
19,209.23
19,317.10
19,425.58
19,534.67
19,644.38
19,754.70
19,865.64
19,977.20
20,089.39
20,202.21
20,315.66
20,429.75
</TABLE>
Page 34
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
90 91 92 93 94 95 96 97
-- -- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON
OH OH OH OR OR PA PA TN
- ------------------------------------------------------------------------------------------------------------------------------
2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
13,451.74 12,840.30 14,919.20 11,739.70 29,838.41 12,938.13 12,546.80 9,489.59
13,527.29 12,912.41 15,002.99 11,805.63 30,005.97 13,010.79 12,617.26 9,542.88
13,603.25 12,984.92 15,087.24 11,871.93 30,174.48 13,083.86 12,688.12 9,596.48
13,679.65 13,057.84 15,171.97 11,938.60 30,343.94 13,157.33 12,759.37 9,650.37
13,756.47 13,131.17 15,257.17 12,005.64 30,514.34 13,231.22 12,831.03 9,704.56
13,833.72 13,204.92 15,342.85 12,073.07 30,685.71 13,305.53 12,903.09 9,759.06
13,911.41 13,279.07 15,429.02 12,140.87 30,858.03 13,380.25 12,975.55 9,813.87
13,989.54 13,353.65 15,515.66 12,209.05 31,031.33 13,455.39 13,048.42 9,868.98
14,068.10 13,428.64 15,602.80 12,277.61 31,205.59 13,530.95 13,121.69 9,924.40
14,147.10 13,504.05 15,690.42 12,346.56 31,380.84 13,606.94 13,195.38 9,980.14
14,226.55 13,579.89 15,778.53 12,415.90 31,557.07 13,683.35 13,269.49 10,036.18
14,306.44 13,656.15 15,867.14 12,485.62 31,734.29 13,760.20 13,344.01 10,092.55
14,386.79 13,732.84 15,956.25 12,555.74 31,912.50 13,837.47 13,418.94 10,149.22
14,467.58 13,809.96 16,045.86 12,626.25 32,091.72 13,915.18 13,494.30 10,206.22
14,548.83 13,887.52 16,135.97 12,697.16 32,271.94 13,993.33 13,570.08 10,263.54
14,630.53 13,965.51 16,226.59 12,768.46 32,453.17 14,071.91 13,646.29 10,321.17
14,712.69 14,043.93 16,317.71 12,840.17 32,635.42 14,150.94 13,722.93 10,379.14
14,795.32 14,122.80 16,409.35 12,912.28 32,818.70 14,230.41 13,799.99 10,437.42
14,878.41 14,202.11 16,501.50 12,984.79 33,003.00 14,310.32 13,877.49 10,496.04
14,961.96 14,281.87 16,594.17 13,057.71 33,188.34 14,390.69 13,955.42 10,554.98
15,045.99 14,362.07 16,687.36 13,131.04 33,374.72 14,471.50 14,033.79 10,614.26
15,130.48 14,442.73 16,781.07 13,204.78 33,562.15 14,552.77 14,112.61 10,673.87
15,215.45 14,523.84 16,875.31 13,278.94 33,750.63 14,634.50 14,191.86 10,733.81
15,300.90 14,605.40 16,970.08 13,353.51 33,940.17 14,716.68 14,271.56 10,794.09
630,818.90 602,145.22 699,635.30 550,532.72 1,399,270.60 606,733.03 588,381.75 445,013.99
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
98 99 100 101 102 103 104 105
-- -- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
WEST VALLEY ROANOKE STAUNTON VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN
UT VA VA VA VT VT WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,377,603.64 2,582,872.52 2,384,190.46 2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C>
16,631.25 12,718.01 11,739.70 14,185.47 9,391.76 8,071.05 16,631.25 12,718.01
16,724.64 12,789.43 11,805.63 14,265.14 9,444.50 8,116.37 16,724.64 12,789.43
16,818.57 12,861.25 11,871.93 14,345.25 9,497.54 8,161.95 16,818.57 12,861.25
16,913.02 12,933.48 11,938.60 14,425.81 9,550.88 8,207.79 16,913.02 12,933.48
17,008.00 13,006.11 12,005.64 14,506.82 9,604.51 8,253.88 17,008.00 13,006.11
17,103.51 13,079.15 12,073.07 14,588.29 9,658.45 8,300.23 17,103.51 13,079.15
17,199.56 13,152.60 12,140.87 14,670.21 9,712.69 8,346.85 17,199.56 13,152.60
17,296.15 13,226.46 12,209.05 14,752.60 9,767.24 8,393.72 17,296.15 13,226.46
17,393.28 13,300.74 12,277.61 14,835.45 9,822.09 8,440.86 17,393.28 13,300.74
17,490.96 13,375.44 12,346.56 14,918.76 9,877.25 8,488.26 17,490.96 13,375.44
17,589.19 13,450.55 12,415.90 15,002.54 9,932.72 8,535.93 17,589.19 13,450.55
17,687.97 13,526.09 12,485.62 15,086.79 9,988.50 8,583.87 17,687.97 13,526.09
17,787.30 13,602.05 12,555.74 15,171.52 10,044.59 8,632.07 17,787.30 13,602.05
17,887.19 13,678.43 12,626.25 15,256.72 10,101.00 8,680.55 17,887.19 13,678.43
17,987.64 13,755.25 12,697.16 15,342.40 10,157.73 8,729.30 17,987.64 13,755.25
18,088.66 13,832.50 12,768.46 15,428.56 10,214.77 8,778.32 18,088.66 13,832.50
18,190.24 13,910.18 12,840.17 15,515.20 10,272.13 8,827.62 18,190.24 13,910.18
18,292.39 13,988.30 12,912.28 15,602.33 10,329.82 8,877.19 18,292.39 13,988.30
18,395.12 14,066.85 12,984.79 15,689.95 10,387.83 8,927.04 18,395.12 14,066.85
18,498.42 14,145.85 13,057.71 15,778.07 10,446.17 8,977.18 18,498.42 14,145.85
18,602.31 14,225.29 13,131.04 15,866.67 10,504.83 9,027.59 18,602.31 14,225.29
18,706.78 14,305.18 13,204.78 15,955.78 10,563.82 9,078.29 18,706.78 14,305.18
18,811.83 14,385.51 13,278.94 16,045.38 10,623.15 9,129.27 18,811.83 14,385.51
18,917.47 14,466.30 13,353.51 16,135.49 10,682.81 9,180.54 18,917.47 14,466.30
779,921.49 596,410.34 550,532.72 665,227.10 440,426.18 378,491.32 779,921.49 596,410.34
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
106
---
RITE AID
- -----------------
YAKIMA
WA
- -----------------
4,172,333.31
- -----------------
6.739%
- -----------------
10TH
- -----------------
<C>
20,544.48
20,659.85
20,775.87
20,892.55
21,009.88
21,127.86
21,246.51
21,365.83
21,485.82
21,606.48
21,727.82
21,849.84
21,972.54
22,095.94
22,220.02
22,344.81
22,470.29
22,596.48
22,723.38
22,850.99
22,979.32
23,108.37
23,238.14
23,368.64
963,432.28
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
</TABLE>
Page 35
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
90 91 92 93 94 95 96 97
-- -- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK PHILADELPHIA ELIZBETHTON
OH OH OH OR OR PA PA TN
- ------------------------------------------------------------------------------------------------------------------------------
2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99 2,548,103.02 1,927,220.86
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
98 99 100 101 102 103 104 105
-- -- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------
WEST VALLEY ROANOKE STAUNTON VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN
UT VA VA VA VT VT WA WA
- ------------------------------------------------------------------------------------------------------------------------------
3,377,603.64 2,582,872.52 2,384,190.46 2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52
- ------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
106
---
RITE AID
- -----------------
YAKIMA
WA
- -----------------
4,172,333.31
- -----------------
6.739%
- -----------------
10TH
- -----------------
<C>
0.00
</TABLE>
Page 36
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
107 108 109 110 111 112 113
--- --- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ----------------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
WV OH MI ME PA NY FL
- ----------------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ----------------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST 10TH 10TH TOTAL
- ---------------------------------------------------------------------------------------------------------------- -----
<S> <C> <C> <C> <C> <C> <C> <C>
1,630.72 2,852.63 3,359.83 3,675.81 2,619.31 2,632.42 0.00 755,337.59
1,639.88 2,869.39 3,380.13 3,699.15 2,636.05 2,649.40 9,428.43 711,704.44
1,649.09 2,886.25 3,400.56 3,722.64 2,652.90 2,666.49 9,486.25 716,236.33
1,658.35 2,903.20 3,421.12 3,746.28 2,669.86 2,683.69 9,544.44 786,881.63
1,667.66 2,920.26 3,441.79 3,770.07 2,686.92 2,701.00 9,602.97 725,387.86
1,677.03 2,937.41 3,462.60 3,794.01 2,704.10 2,718.42 9,661.87 730,007.79
1,686.44 2,954.67 3,483.53 3,818.10 2,721.38 2,735.96 9,721.13 864,653.47
1,695.92 2,972.03 3,504.58 3,842.34 2,738.78 2,753.60 9,780.76 802,429.03
1,705.44 2,989.49 3,525.76 3,866.74 2,756.28 2,771.36 9,840.74 809,659.91
1,715.02 3,007.05 3,547.07 3,891.30 2,773.90 2,789.24 9,901.10 883,233.49
1,724.65 3,024.72 3,568.51 3,916.00 2,791.63 2,807.23 9,961.83 819,919.81
1,734.33 3,042.49 3,590.08 3,940.87 2,809.47 2,825.34 10,022.93 824,945.64
1,744.07 3,060.37 3,611.78 3,965.90 2,827.43 2,843.56 10,084.40 899,782.95
1,753.87 3,078.35 3,633.61 3,991.08 2,845.50 2,861.90 10,146.25 835,347.34
1,763.72 3,096.43 3,655.57 4,016.42 2,863.69 2,880.36 10,208.48 840,624.81
1,773.62 3,114.62 3,677.67 4,041.93 2,881.99 2,898.94 10,271.09 941,791.86
1,783.58 3,132.92 3,699.90 4,067.59 2,900.41 2,917.64 10,334.09 876,364.23
1,793.60 3,151.33 3,722.26 4,093.42 2,918.95 2,936.46 10,397.47 2,123,655.13
1,803.67 3,169.84 3,744.76 4,119.42 2,937.61 2,955.40 10,461.24 959,606.30
1,813.80 3,188.46 3,767.39 4,145.57 2,956.38 2,974.46 10,525.41 893,020.55
1,823.99 3,207.20 3,790.16 4,171.90 2,975.28 2,993.64 10,589.96 1,004,802.21
1,834.23 3,226.04 3,813.07 4,198.39 2,994.30 3,012.95 10,654.91 977,796.41
1,844.53 3,244.99 3,836.12 4,225.05 3,013.44 3,032.39 10,720.26 910,032.23
1,854.89 3,264.06 3,859.30 4,251.88 3,032.70 3,051.94 10,786.01 1,023,589.94
1,865.31 3,283.23 3,882.63 4,278.88 3,052.08 3,071.63 10,852.17 996,116.80
1,875.78 3,302.52 3,906.10 4,306.05 3,071.59 3,091.44 10,918.73 927,151.86
1,886.31 3,321.92 3,929.70 4,333.39 3,091.22 3,111.38 10,985.70 1,042,839.20
1,896.91 3,341.44 3,953.46 4,360.91 3,110.98 3,131.45 11,053.08 1,015,005.67
1,907.56 3,361.07 3,977.35 4,388.60 3,130.86 3,151.65 11,120.87 944,820.14
1,918.27 3,380.82 4,001.39 4,416.47 3,150.87 3,171.98 11,189.08 1,062,512.20
1,929.05 3,400.68 4,025.58 4,444.51 3,171.01 3,192.44 11,257.70 1,034,219.94
1,939.88 3,420.66 4,049.91 4,472.74 3,191.28 3,213.03 11,326.75 962,792.17
1,950.77 3,440.75 4,074.39 4,501.14 3,211.68 3,233.75 11,396.22 1,082,523.31
1,961.73 3,460.97 4,099.01 4,529.72 3,232.21 3,254.61 11,466.12 1,053,838.87
1,972.75 3,481.30 4,123.79 4,558.48 3,252.87 3,275.60 11,536.44 981,146.92
1,983.82 3,501.75 4,148.71 4,587.43 3,273.66 3,296.73 11,607.20 1,102,783.79
1,994.96 3,522.33 4,173.79 4,616.56 3,294.58 3,317.99 11,678.39 1,073,604.69
2,006.17 3,543.02 4,199.02 4,645.88 3,315.64 3,339.39 11,750.02 999,624.69
2,017.43 3,563.84 4,224.39 4,675.38 3,336.83 3,360.93 11,822.08 1,125,867.36
2,028.76 3,584.77 4,249.93 4,705.07 3,358.16 3,382.61 11,894.59 1,096,318.34
2,040.16 3,605.83 4,275.62 4,734.94 3,379.62 3,404.43 11,967.55 1,021,472.93
2,051.61 3,627.02 4,301.46 4,765.01 3,401.23 3,426.39 12,040.95 1,147,550.87
2,063.14 3,648.33 4,327.46 4,795.27 3,422.97 3,448.49 12,114.80 1,119,482.54
2,074.72 3,669.76 4,353.61 4,825.72 3,444.84 3,470.73 12,189.10 1,042,888.77
2,086.37 3,691.32 4,379.93 4,856.36 3,466.86 3,493.12 12,263.86 1,171,163.91
2,098.09 3,713.01 4,406.40 4,887.20 3,489.02 3,515.65 12,339.08 1,269,027.80
2,109.87 3,734.82 4,433.03 4,918.23 3,511.32 3,538.32 12,414.76 1,062,779.39
</TABLE>
Page 37
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
107 108 109 110 111 112 113
--- --- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ----------------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
WV OH MI ME PA NY FL
- ----------------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ----------------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST 10TH 10TH TOTAL
- ---------------------------------------------------------------------------------------------------------------- -----
<S> <C> <C> <C> <C> <C> <C> <C>
2,121.72 3,756.76 4,459.83 4,949.46 3,533.77 3,561.14 12,490.90 1,193,100.06
2,133.64 3,778.83 4,486.78 4,980.89 3,556.35 3,584.11 12,567.52 1,292,693.71
2,145.62 3,801.04 4,513.90 5,012.52 3,579.08 3,607.23 12,644.60 1,088,208.17
2,157.67 3,823.37 4,541.18 5,044.35 3,601.96 3,630.50 12,722.15 1,221,005.83
2,169.79 3,845.83 4,568.63 5,076.38 3,624.98 3,653.91 12,800.18 1,322,530.31
2,181.97 3,868.42 4,596.24 5,108.62 3,648.15 3,677.48 12,878.69 1,137,720.05
2,194.22 3,891.15 4,624.03 5,141.06 3,671.47 3,701.20 12,957.68 1,272,992.24
2,206.55 3,914.01 4,651.97 5,173.70 3,694.94 3,725.07 13,037.15 1,376,512.48
2,218.94 3,937.01 4,680.09 5,206.56 3,718.55 3,749.10 13,117.11 1,161,623.53
2,231.40 3,960.14 4,708.38 5,239.62 3,742.32 3,773.28 13,197.56 1,299,255.12
2,243.93 3,983.40 4,736.84 5,272.89 3,766.24 3,797.62 13,278.51 1,440,563.47
2,256.53 4,006.80 4,765.47 5,306.37 5,770.65 3,822.12 13,359.95 1,185,768.41
2,269.20 4,030.34 4,794.27 5,340.07 5,807.54 3,846.77 13,441.89 1,325,612.22
2,281.95 4,054.02 4,823.25 5,373.98 5,844.66 3,871.58 13,524.33 1,469,506.60
2,294.76 4,077.84 4,852.40 5,408.10 5,882.01 3,896.55 13,607.28 1,208,144.33
2,307.65 4,101.80 4,881.73 5,442.44 5,919.61 3,921.68 13,690.74 1,350,600.04
2,320.61 4,125.89 4,911.23 5,477.00 5,957.45 3,946.98 13,774.71 1,497,248.02
2,333.64 4,150.13 4,940.92 5,511.78 5,995.52 3,972.44 13,859.20 1,231,205.48
2,346.75 4,174.52 4,970.78 5,546.78 6,033.85 3,998.06 13,944.20 1,376,130.68
2,359.93 4,199.04 5,000.83 5,582.00 6,072.41 4,023.85 14,029.72 1,525,476.05
2,373.18 4,223.71 5,031.05 5,617.45 6,111.22 4,049.80 14,115.77 1,254,669.15
2,386.51 4,248.53 5,061.46 5,653.12 6,150.29 4,075.92 14,202.35 1,404,613.01
2,399.91 4,273.49 5,092.05 5,689.02 6,189.60 4,102.21 14,289.46 1,556,804.68
2,413.39 4,298.59 5,122.83 5,725.14 6,229.16 4,128.67 14,377.10 1,281,162.22
2,426.94 4,323.85 5,153.79 5,761.50 6,268.97 4,155.30 14,465.28 1,430,974.09
2,440.57 4,349.25 5,184.94 5,798.08 6,309.04 4,182.10 14,554.00 1,585,939.29
2,454.27 4,374.80 5,216.28 5,834.90 6,349.37 4,209.08 14,643.26 1,305,358.60
2,468.06 4,400.50 5,247.81 5,871.95 6,389.95 4,236.23 14,733.08 1,457,964.92
2,481.92 4,426.36 5,279.53 5,909.24 6,430.79 4,263.55 14,823.44 1,615,893.95
2,495.85 4,452.36 5,311.44 5,946.76 6,471.90 4,291.05 14,914.36 1,330,288.36
2,509.87 4,478.52 5,343.54 5,984.52 6,513.26 4,318.73 15,005.83 1,721,475.24
2,523.97 4,504.83 5,375.84 6,022.53 6,554.89 4,346.58 15,097.87 1,646,375.67
2,538.14 4,531.30 5,408.33 6,060.77 6,596.79 4,374.62 15,190.47 1,355,654.83
2,552.39 4,557.92 5,441.02 6,099.25 6,638.95 4,402.83 15,283.63 1,753,597.20
2,566.73 4,584.69 5,473.91 6,137.99 6,681.39 4,431.23 15,377.37 1,677,483.15
2,581.14 4,611.63 5,506.99 6,176.96 6,724.09 4,459.81 15,471.69 1,381,555.48
2,595.64 4,638.72 5,540.28 6,216.19 6,767.07 4,488.58 15,566.58 1,786,164.91
2,610.21 4,665.98 5,573.77 6,255.66 6,810.32 4,517.53 15,662.06 1,708,905.85
2,624.87 4,693.39 5,607.45 6,295.38 6,853.85 4,546.67 15,758.12 1,407,676.04
2,639.61 4,720.96 5,641.35 6,335.36 6,897.66 4,575.99 15,854.77 1,819,479.99
2,654.44 4,748.70 5,675.44 6,375.59 6,941.75 4,605.51 15,952.01 1,741,205.80
2,669.34 4,776.60 5,709.75 6,416.07 6,986.12 4,635.22 16,049.85 1,434,580.76
2,684.33 4,804.66 5,744.26 6,456.81 7,030.77 4,665.11 16,148.29 1,853,496.64
2,699.41 4,832.89 5,778.98 6,497.81 7,075.71 4,695.20 16,247.33 1,774,075.83
2,714.57 4,861.28 5,813.91 6,539.08 7,120.93 4,725.49 16,346.98 1,461,958.43
2,729.81 4,889.84 5,849.05 6,580.60 7,166.45 4,755.97 16,447.24 1,888,108.95
2,745.14 4,918.57 5,884.40 6,622.39 7,212.25 4,786.64 16,548.12 1,807,619.81
2,760.56 4,947.46 5,919.97 6,664.44 7,258.35 4,817.52 16,649.61 1,489,911.86
2,776.06 4,976.53 5,955.75 6,706.76 7,304.75 4,848.59 16,751.73 1,923,206.59
2,791.65 5,005.77 5,991.74 6,749.34 7,351.44 4,879.86 16,854.48 1,841,512.18
2,807.33 5,035.18 6,027.96 6,792.20 7,398.42 4,911.34 16,957.85 1,518,111.16
2,823.10 5,064.76 6,064.39 6,835.33 7,445.71 4,943.02 17,061.86 1,961,805.56
2,838.95 5,094.51 6,101.05 6,878.74 7,493.30 4,974.90 17,166.50 1,879,057.12
2,854.89 5,124.44 6,137.92 6,922.42 7,541.20 5,006.99 17,271.79 1,550,309.00
2,870.93 5,154.55 6,175.02 6,966.38 7,589.40 5,039.28 17,377.72 1,998,938.42
2,887.05 5,184.83 6,212.34 7,010.61 7,637.91 5,071.78 17,484.31 1,917,047.74
2,903.26 5,215.29 6,249.89 7,055.13 7,686.73 5,104.50 17,591.55 1,581,987.46
2,919.57 5,245.93 6,287.67 7,099.93 7,735.86 5,137.42 17,699.44 2,038,378.01
2,935.96 5,276.75 6,325.67 7,145.01 7,785.30 5,170.56 17,808.00 2,105,990.53
2,952.45 5,307.75 6,363.91 7,190.38 7,835.06 5,203.91 17,917.22 1,612,251.97
2,969.03 5,338.94 6,402.37 7,236.04 7,885.14 5,237.47 18,027.11 2,076,298.59
2,985.70 5,370.30 6,441.07 7,281.99 7,935.54 5,271.25 18,137.68 2,145,326.56
3,002.47 5,401.85 6,480.00 7,328.23 7,986.26 5,305.25 18,248.92 1,648,964.83
</TABLE>
Page 38
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
107 108 109 110 111 112 113
--- --- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ----------------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
WV OH MI ME PA NY FL
- ----------------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ----------------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST 10TH 10TH TOTAL
- ---------------------------------------------------------------------------------------------------------------- -----
<S> <C> <C> <C> <C> <C> <C> <C>
3,019.33 5,433.59 6,519.16 7,374.77 8,037.31 5,339.47 18,360.85 2,121,299.71
3,036.29 5,465.51 6,558.57 7,421.60 8,088.68 5,373.91 18,473.46 13,406,060.26
3,053.34 5,497.62 6,598.21 7,468.72 8,140.38 5,408.57 18,586.77 1,650,057.85
3,070.49 5,529.92 6,638.09 7,516.15 8,192.41 5,443.46 18,700.76 2,130,355.88
3,087.73 5,562.41 6,678.21 7,563.88 8,244.77 5,478.57 18,815.46 4,955,678.77
3,105.07 5,595.09 6,718.57 7,611.91 8,297.47 5,513.91 18,930.86 1,669,591.38
3,122.51 5,627.96 6,759.18 7,660.24 8,350.51 5,549.47 19,046.97 2,158,111.51
3,140.04 5,661.02 6,800.04 7,708.89 8,403.88 5,585.27 19,163.80 2,274,316.22
3,157.68 5,694.28 6,841.14 7,757.84 10,635.94 5,621.29 19,281.33 1,703,759.20
3,175.41 5,727.74 6,882.49 7,807.10 10,703.93 5,657.55 19,399.59 2,200,493.07
3,193.24 5,761.39 6,924.08 7,856.68 10,772.34 5,694.04 19,518.58 2,319,090.04
3,211.17 5,795.23 6,965.94 7,906.57 10,841.19 5,730.77 19,638.29 1,736,086.10
3,229.21 5,829.28 7,008.04 7,956.77 10,910.49 5,767.73 19,758.74 2,241,638.94
3,247.34 5,863.53 7,050.40 8,007.30 10,980.22 5,804.93 19,879.93 2,362,832.32
3,265.58 5,897.98 7,093.01 8,058.14 11,050.41 5,842.37 20,001.86 1,769,363.16
3,283.92 5,932.63 7,135.88 8,109.31 11,121.04 5,880.06 20,124.53 2,283,647.95
3,302.36 5,967.48 7,179.01 8,160.81 11,192.12 5,917.98 20,247.96 2,407,353.99
3,320.91 6,002.54 7,222.40 8,212.63 11,263.66 5,956.15 20,372.15 1,803,231.29
3,339.56 6,037.80 7,266.06 8,264.78 11,335.65 5,994.57 20,497.10 2,329,304.87
3,358.31 6,073.28 7,309.97 8,317.26 11,408.10 6,033.24 20,622.82 2,455,700.04
3,377.17 6,108.96 7,354.16 8,370.07 11,481.02 6,072.15 20,749.30 1,840,748.59
3,396.14 6,144.85 7,398.61 8,423.22 11,554.40 6,111.32 20,876.56 2,372,718.83
3,415.21 6,180.95 7,443.32 8,476.71 11,628.25 6,150.73 21,004.61 2,501,699.59
3,434.39 6,217.26 7,488.31 8,530.54 11,702.58 6,190.41 21,133.44 1,875,706.08
3,453.67 6,253.79 7,533.57 8,584.71 11,777.38 6,230.33 21,263.05 12,203,393.91
3,473.07 6,290.53 7,579.11 8,639.22 11,852.65 6,270.52 21,393.47 2,498,100.14
3,492.57 6,327.49 7,624.92 8,694.08 11,928.41 6,310.96 21,524.68 1,860,566.01
3,512.19 6,364.66 7,671.00 8,749.29 12,004.65 6,351.67 21,656.70 2,691,786.29
3,531.91 6,402.05 7,717.37 8,804.85 12,081.38 6,392.64 21,789.53 2,545,244.80
3,551.75 6,439.66 7,764.01 8,860.76 12,158.60 6,433.87 21,923.17 1,896,264.67
3,571.69 6,477.50 7,810.94 8,917.02 12,236.32 6,475.37 22,057.63 2,741,828.54
3,591.75 6,515.55 7,858.15 8,973.65 12,314.53 6,517.14 22,192.92 2,593,345.77
3,611.92 6,553.83 7,905.65 9,030.63 12,393.24 6,559.17 22,329.03 1,932,713.92
3,632.20 6,592.34 7,953.43 9,087.97 12,472.45 6,601.48 22,465.99 2,792,607.26
3,652.60 6,631.07 8,001.50 9,145.68 12,552.17 6,644.06 22,603.78 2,642,009.64
3,673.11 6,670.02 8,049.86 9,203.76 12,632.40 6,686.91 22,742.41 1,969,514.04
3,693.74 6,709.21 8,098.52 9,262.20 12,713.14 6,730.04 22,881.90 2,844,510.45
3,714.49 6,748.63 8,147.47 9,321.01 12,794.40 6,773.45 23,022.24 2,691,956.95
3,735.35 6,788.27 8,196.71 9,380.20 12,876.18 6,817.14 23,163.45 2,007,386.81
3,756.32 6,828.15 8,246.25 9,439.77 12,958.48 6,861.11 23,305.52 2,897,482.85
3,777.42 6,868.27 8,296.10 9,499.71 13,041.31 6,905.36 23,448.46 2,742,798.93
3,798.63 6,908.62 8,346.24 9,560.03 13,124.66 6,949.90 23,592.27 2,045,936.58
3,819.96 6,949.21 8,396.69 9,620.74 13,208.55 6,994.73 23,736.97 2,951,392.63
3,841.42 6,990.04 8,447.44 9,681.83 13,292.97 7,039.85 23,882.56 2,794,671.17
3,862.99 7,031.10 8,498.49 9,743.31 13,377.94 7,085.25 24,029.04 2,085,295.86
3,884.68 7,072.41 8,549.86 9,805.18 13,463.45 7,130.95 24,176.42 3,006,102.33
3,906.50 7,113.96 8,601.54 9,867.44 13,549.50 7,176.95 24,324.70 2,847,161.39
3,928.44 7,155.76 8,653.53 9,930.10 13,636.10 7,223.24 24,473.89 2,123,687.46
3,950.50 7,197.80 8,705.83 9,993.16 13,723.26 7,269.83 24,624.00 3,021,266.21
3,972.68 7,240.08 8,758.45 10,056.61 13,810.98 7,316.72 24,775.02 2,860,047.85
3,994.99 7,282.62 8,811.39 10,120.47 13,899.25 7,363.91 24,926.98 2,125,169.16
4,017.43 7,325.40 8,864.64 10,184.74 13,988.09 7,411.41 25,079.86 3,078,088.10
4,039.99 7,368.44 8,918.22 10,249.41 14,077.50 7,459.21 25,233.69 2,916,798.15
4,062.68 7,411.73 8,972.13 10,314.50 14,167.48 7,507.33 25,388.45 2,168,300.26
4,085.49 7,455.27 9,026.36 10,379.99 14,258.03 7,555.75 25,544.17 3,137,677.71
4,108.44 7,499.07 9,080.91 10,445.91 14,349.16 7,604.48 25,700.84 3,153,780.25
4,131.51 7,543.13 9,135.80 10,512.24 14,440.88 7,653.53 25,858.47 2,210,156.29
4,154.71 7,587.45 9,191.02 10,578.99 14,533.18 7,702.90 26,017.07 3,195,974.06
4,178.04 7,632.02 9,246.57 10,646.17 14,626.07 7,752.58 26,176.64 3,212,938.11
4,201.50 7,676.86 9,302.46 10,713.77 14,719.56 7,802.58 26,337.19 2,259,554.26
4,225.10 7,721.96 9,358.68 10,781.80 14,813.64 7,852.91 26,498.73 3,262,728.72
4,248.83 7,767.33 9,415.25 10,850.27 14,908.32 7,903.56 26,661.25 3,177,176.76
4,272.69 7,812.96 9,472.16 10,919.17 15,003.61 7,954.54 26,824.77 2,118,752.63
</TABLE>
Page 39
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
107 108 109 110 111 112 113
--- --- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ----------------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
WV OH MI ME PA NY FL
- ----------------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ----------------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST 10TH 10TH TOTAL
- ---------------------------------------------------------------------------------------------------------------- -----
<S> <C> <C> <C> <C> <C> <C> <C>
4,296.68 7,858.86 9,529.41 10,988.50 15,099.51 8,005.85 26,989.30 3,138,188.04
4,320.81 7,905.03 9,587.00 11,058.28 15,196.02 8,057.48 27,154.83 3,156,199.85
4,345.08 7,951.48 9,644.95 11,128.50 15,293.15 8,109.46 27,321.38 2,162,262.94
4,369.48 7,998.19 9,703.25 11,199.17 15,390.90 8,161.76 27,488.95 3,199,306.71
4,394.02 8,045.18 9,761.89 11,270.28 15,489.27 8,214.40 27,657.55 3,269,181.14
4,418.69 8,092.45 9,820.90 11,341.85 17,984.48 8,267.39 27,827.19 2,206,852.21
4,443.51 8,139.99 9,880.26 11,413.87 18,099.43 8,320.71 27,997.80 3,261,505.93
4,468.46 8,187.81 9,939.97 11,486.35 18,215.12 8,374.38 0.00 3,305,186.84
4,493.56 8,235.91 10,000.05 11,559.28 18,331.54 8,428.40 0.00 2,221,167.49
4,518.79 8,284.30 10,060.49 11,632.69 18,448.71 8,482.76 0.00 3,294,155.25
4,544.17 8,332.97 10,121.30 11,706.55 18,566.63 8,537.47 0.00 3,368,056.41
4,569.69 8,381.93 10,182.48 11,780.89 18,685.30 8,592.54 0.00 2,264,555.58
4,595.35 8,431.17 10,244.02 11,855.70 18,804.73 8,647.96 0.00 3,356,061.80
4,621.16 8,480.70 10,305.94 11,930.98 18,924.93 8,703.74 0.00 3,432,065.26
4,647.11 8,530.53 10,368.23 12,006.74 19,045.89 8,759.88 0.00 2,308,731.68
4,673.21 8,580.64 10,430.90 12,082.99 19,167.62 8,816.38 0.00 3,419,075.74
4,699.45 8,631.06 10,493.94 12,159.71 19,290.14 8,873.25 0.00 3,497,372.47
4,725.84 8,681.76 10,557.37 12,236.93 19,413.43 8,930.48 0.00 2,353,849.50
4,752.38 8,732.77 10,621.18 12,314.63 19,537.52 8,988.08 0.00 3,483,038.45
4,779.07 8,784.07 10,685.38 12,392.83 19,662.39 9,046.05 0.00 3,563,503.09
4,805.91 8,835.68 10,749.96 12,471.52 19,788.07 9,104.40 0.00 2,399,424.01
4,832.90 8,887.59 10,814.93 12,550.72 19,914.55 9,163.12 0.00 3,548,422.87
4,860.04 8,939.80 10,880.30 12,630.42 20,041.83 9,222.23 0.00 3,631,335.55
4,887.33 8,992.33 10,946.06 12,710.62 20,169.94 9,281.71 0.00 2,446,333.21
4,914.78 9,045.16 11,012.22 12,791.33 20,298.85 9,341.58 0.00 3,949,270.48
4,942.38 9,098.30 11,078.78 12,872.56 20,428.60 9,401.83 0.00 3,700,400.16
4,970.13 9,151.75 11,145.75 12,954.30 20,559.17 9,462.47 0.00 2,494,097.42
4,998.04 9,205.52 11,213.11 13,036.56 20,690.58 9,523.50 0.00 4,022,962.71
5,026.11 9,259.60 11,280.89 13,119.34 20,822.83 9,584.93 0.00 3,770,864.77
5,054.34 9,314.00 11,349.07 13,202.65 20,955.92 9,646.75 0.00 2,542,878.43
5,082.72 9,368.72 11,417.66 13,286.48 21,089.86 9,708.98 0.00 4,097,785.07
5,111.27 9,423.76 11,486.68 13,370.85 21,224.66 9,771.60 0.00 3,842,231.26
5,139.97 9,479.12 11,556.10 13,455.76 21,360.32 9,834.63 0.00 2,592,167.65
5,168.84 9,534.81 11,625.95 13,541.20 21,496.85 9,898.06 0.00 4,174,238.30
5,197.86 9,590.83 11,696.22 13,627.19 21,634.25 9,961.90 0.00 3,849,580.86
5,227.05 9,647.18 11,766.91 13,713.72 21,772.53 10,026.16 0.00 2,576,622.39
5,256.41 9,703.85 11,838.03 13,800.80 21,911.69 10,090.82 0.00 4,185,559.86
5,285.93 9,760.86 11,909.58 13,888.44 22,051.74 10,155.91 0.00 3,922,827.77
5,315.61 9,818.21 11,981.57 13,976.63 22,192.69 10,221.42 0.00 2,626,984.33
5,345.46 9,875.89 12,053.99 14,065.38 22,334.54 10,287.34 0.00 4,263,678.10
5,375.48 9,933.91 12,126.84 14,154.70 22,477.30 10,353.70 0.00 3,997,559.70
5,405.67 9,992.27 12,200.14 14,244.58 22,620.96 10,420.48 0.00 2,678,419.31
5,436.03 10,050.98 12,273.88 14,335.03 22,765.55 10,487.69 0.00 4,342,997.81
5,466.55 10,110.03 12,348.07 14,426.06 22,911.06 10,555.34 0.00 4,073,253.87
5,497.25 10,169.42 12,422.70 14,517.66 23,057.50 10,623.42 0.00 2,730,393.59
5,528.13 10,229.17 12,497.78 14,609.85 23,204.87 10,691.94 0.00 4,424,043.11
5,559.17 10,289.27 12,573.32 14,702.62 23,353.19 10,760.90 0.00 4,149,808.59
5,590.39 10,349.71 12,649.32 14,795.99 23,502.46 10,830.31 0.00 2,767,740.35
5,621.78 10,410.52 12,725.77 14,889.94 23,652.68 10,900.17 0.00 4,490,512.08
5,653.36 10,471.68 12,804.26 14,984.49 23,803.86 10,970.47 0.00 4,215,865.85
5,685.10 10,533.20 0.00 15,079.64 23,956.00 11,041.23 0.00 2,811,317.78
5,717.03 10,595.08 0.00 15,173.37 24,109.12 11,112.45 0.00 4,563,745.01
5,749.14 10,657.33 0.00 0.00 24,263.22 11,184.12 0.00 3,126,672.59
5,781.42 10,719.94 0.00 0.00 24,418.30 11,256.26 0.00 2,851,081.55
5,813.89 10,782.92 0.00 0.00 24,574.38 11,328.86 0.00 4,633,275.58
5,846.54 10,846.27 0.00 0.00 24,731.45 11,401.93 0.00 2,766,772.54
5,879.37 10,909.99 0.00 0.00 24,889.52 11,475.48 0.00 2,430,825.79
5,912.39 10,974.09 0.00 0.00 25,048.61 11,549.49 0.00 4,240,580.41
5,945.59 11,038.56 0.00 0.00 25,208.71 11,623.99 0.00 2,767,249.62
5,978.98 11,103.41 0.00 0.00 25,369.84 11,698.96 0.00 2,484,430.14
6,012.56 11,168.65 0.00 0.00 25,531.99 11,774.42 0.00 4,325,439.13
6,046.33 11,234.26 0.00 0.00 25,695.18 11,850.37 0.00 12,592,477.55
6,080.28 11,300.26 0.00 0.00 25,859.42 11,926.80 0.00 2,444,893.12
</TABLE>
Page 40
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
107 108 109 110 111 112 113
--- --- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ----------------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
WV OH MI ME PA NY FL
- ----------------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ----------------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST 10TH 10TH TOTAL
- ---------------------------------------------------------------------------------------------------------------- -----
<S> <C> <C> <C> <C> <C> <C> <C>
6,114.43 11,366.65 0.00 0.00 26,024.70 12,003.73 0.00 4,317,142.77
6,148.76 11,433.43 0.00 0.00 26,191.20 12,081.15 0.00 2,475,932.94
6,183.29 11,500.60 0.00 0.00 0.00 12,159.08 0.00 2,465,242.94
6,218.02 11,568.17 0.00 0.00 0.00 12,237.50 0.00 4,369,218.00
6,252.94 11,636.13 0.00 0.00 0.00 12,316.43 0.00 2,496,152.72
6,288.05 11,704.50 0.00 0.00 0.00 12,395.87 0.00 2,511,949.93
6,323.37 11,773.26 0.00 0.00 0.00 12,475.83 0.00 4,449,144.07
6,358.88 11,842.43 0.00 0.00 0.00 12,556.30 0.00 2,543,847.48
6,394.59 11,912.00 0.00 0.00 0.00 12,637.29 0.00 2,559,949.11
6,430.50 11,981.98 0.00 0.00 0.00 12,718.80 0.00 4,530,544.01
6,466.61 12,052.38 0.00 0.00 0.00 12,800.83 0.00 2,473,441.21
6,502.93 12,123.19 0.00 0.00 0.00 12,883.40 0.00 2,489,194.67
6,539.45 12,194.41 0.00 0.00 0.00 12,966.50 0.00 4,493,104.10
6,576.17 12,266.05 0.00 0.00 0.00 13,050.13 0.00 2,521,005.78
6,613.10 12,338.12 0.00 0.00 0.00 13,134.30 0.00 2,156,356.67
6,650.24 12,410.60 0.00 0.00 0.00 13,219.02 0.00 4,191,629.91
6,687.59 12,483.51 0.00 0.00 0.00 13,304.28 0.00 1,771,763.99
6,725.14 12,556.85 0.00 0.00 0.00 13,390.09 0.00 1,782,694.70
6,762.91 12,630.63 0.00 0.00 0.00 0.00 0.00 3,837,349.66
6,800.89 12,702.83 0.00 0.00 0.00 0.00 0.00 1,791,194.82
6,839.08 0.00 0.00 0.00 0.00 0.00 0.00 1,789,465.42
6,877.49 0.00 0.00 0.00 0.00 0.00 0.00 1,544,979.23
6,916.11 0.00 0.00 0.00 0.00 0.00 0.00 1,554,496.69
6,954.95 0.00 0.00 0.00 0.00 0.00 0.00 1,414,013.26
286,735.79 0.00 0.00 0.00 0.00 0.00 0.00 25,927,953.84
0.00 0.00 0.00 0.00 0.00 0.00 0.00 815,068.08
0.00 0.00 0.00 0.00 0.00 0.00 0.00 820,269.90
0.00 0.00 0.00 0.00 0.00 0.00 0.00 800,298.10
0.00 0.00 0.00 0.00 0.00 0.00 0.00 805,430.19
0.00 0.00 0.00 0.00 0.00 0.00 0.00 810,595.25
0.00 0.00 0.00 0.00 0.00 0.00 0.00 815,793.52
0.00 0.00 0.00 0.00 0.00 0.00 0.00 821,025.17
0.00 0.00 0.00 0.00 0.00 0.00 0.00 473,601.75
0.00 0.00 0.00 0.00 0.00 0.00 0.00 476,634.28
0.00 0.00 0.00 0.00 0.00 0.00 0.00 479,686.28
0.00 0.00 0.00 0.00 0.00 0.00 0.00 482,757.92
0.00 0.00 0.00 0.00 0.00 0.00 0.00 485,849.28
0.00 0.00 0.00 0.00 0.00 0.00 0.00 488,958.33
0.00 0.00 0.00 0.00 0.00 0.00 0.00 345,267.15
0.00 0.00 0.00 0.00 0.00 0.00 0.00 347,107.67
0.00 0.00 0.00 0.00 0.00 0.00 0.00 349,408.51
0.00 0.00 0.00 0.00 0.00 0.00 0.00 351,724.67
0.00 0.00 0.00 0.00 0.00 0.00 0.00 354,053.29
0.00 0.00 0.00 0.00 0.00 0.00 0.00 303,444.41
0.00 0.00 0.00 0.00 0.00 0.00 0.00 305,463.17
0.00 0.00 0.00 0.00 0.00 0.00 0.00 307,495.43
0.00 0.00 0.00 0.00 0.00 0.00 0.00 261,957.14
0.00 0.00 0.00 0.00 0.00 0.00 0.00 263,716.32
0.00 0.00 0.00 0.00 0.00 0.00 0.00 265,490.13
0.00 0.00 0.00 0.00 0.00 0.00 0.00 243,755.85
0.00 0.00 0.00 0.00 0.00 0.00 0.00 245,397.91
0.00 0.00 0.00 0.00 0.00 0.00 0.00 246,580.35
0.00 0.00 0.00 0.00 0.00 0.00 0.00 248,241.36
0.00 0.00 0.00 0.00 0.00 0.00 0.00 249,913.59
0.00 0.00 0.00 0.00 0.00 0.00 0.00 251,595.62
0.00 0.00 0.00 0.00 0.00 0.00 0.00 217,676.50
0.00 0.00 0.00 0.00 0.00 0.00 0.00 226,874.02
0.00 0.00 0.00 0.00 0.00 0.00 0.00 228,417.91
0.00 0.00 0.00 0.00 0.00 0.00 0.00 229,972.35
0.00 0.00 0.00 0.00 0.00 0.00 0.00 178,614.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 179,839.03
0.00 0.00 0.00 0.00 0.00 0.00 0.00 181,072.48
0.00 0.00 0.00 0.00 0.00 0.00 0.00 182,314.89
</TABLE>
Page 41
<PAGE>
PRINCIPAL
<TABLE>
<CAPTION>
107 108 109 110 111 112 113
--- --- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ----------------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
WV OH MI ME PA NY FL
- ----------------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ----------------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST 10TH 10TH TOTAL
- ---------------------------------------------------------------------------------------------------------------- -----
<S> <C> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00 40,630.60
</TABLE>
Page 42
<PAGE>
GROSS INTEREST
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
INTEREST SCHEDULES
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Apr-98 60,344.50 207,035.94 385,668.26 116,275.18 18,888.54 49,426.75
May-98 60,344.50 206,699.04 385,668.26 116,275.18 18,856.27 49,360.72
Jun-98 60,344.50 206,699.04 385,668.26 116,275.18 18,823.81 49,294.21
Jul-98 60,344.50 206,699.04 385,668.26 116,275.18 18,791.18 49,227.23
Aug-98 60,294.88 206,356.22 385,668.26 116,275.18 18,758.37 49,159.76
Sep-98 60,294.88 206,356.22 385,668.26 116,275.18 18,725.38 49,091.81
Oct-98 60,294.88 206,356.22 385,668.26 116,275.18 18,692.20 49,023.38
Nov-98 60,244.28 206,007.38 385,668.26 116,095.71 18,658.85 48,954.45
Dec-98 60,244.28 206,007.38 385,668.26 115,915.17 18,625.31 48,885.03
Jan-99 60,244.28 206,007.38 385,668.26 115,733.58 18,591.59 48,815.11
Feb-99 60,192.69 205,652.41 385,668.26 115,550.92 18,557.69 48,744.68
Mar-99 60,192.69 205,652.41 385,668.26 115,367.19 18,523.60 48,673.76
Apr-99 60,192.69 205,652.41 385,668.26 115,182.38 18,489.32 48,602.32
May-99 60,140.07 205,291.20 385,668.26 114,996.48 18,454.86 48,530.37
Jun-99 60,140.07 205,291.20 385,668.26 114,809.49 18,420.21 48,457.91
Jul-99 60,140.07 205,291.20 385,668.26 114,621.40 18,385.36 48,384.92
Aug-99 60,086.43 204,923.64 385,668.26 114,432.20 18,350.33 48,311.41
Sep-99 60,086.43 204,923.64 385,668.26 114,241.90 18,315.11 48,237.38
Oct-99 60,086.43 204,923.64 378,538.47 114,050.48 18,279.69 48,162.81
Nov-99 60,031.73 204,549.62 378,538.47 113,857.93 18,244.08 48,087.71
Dec-99 60,031.73 204,549.62 378,538.47 113,664.25 18,208.27 48,012.07
Jan-00 60,031.73 204,549.62 377,929.01 113,469.43 18,172.27 47,935.89
Feb-00 59,975.95 204,169.03 377,929.01 113,273.47 18,136.07 47,859.16
Mar-00 59,975.95 204,169.03 377,929.01 113,076.36 18,099.67 47,781.87
Apr-00 59,975.95 204,169.03 377,309.05 112,878.09 18,063.07 47,704.04
May-00 59,919.08 203,781.75 377,309.05 112,678.65 18,026.27 47,625.65
Jun-00 59,919.08 203,781.75 377,309.05 112,478.04 17,989.27 47,546.69
Jul-00 59,919.08 203,781.75 376,678.41 112,276.26 17,952.07 47,467.17
Aug-00 59,861.08 203,387.66 376,678.41 112,073.29 17,914.67 47,387.07
Sep-00 59,861.08 203,387.66 376,678.41 111,869.12 17,877.05 47,306.40
Oct-00 59,861.08 203,387.66 376,036.91 111,663.76 17,839.24 47,225.16
Nov-00 59,801.95 202,986.64 376,036.91 111,457.19 17,801.21 47,143.33
Dec-00 59,801.95 202,986.64 376,036.91 111,249.40 17,762.98 47,060.91
Jan-01 59,801.95 202,986.64 375,384.36 111,040.40 17,724.54 46,977.90
Feb-01 59,741.65 202,578.58 375,384.36 110,830.17 17,685.89 46,894.30
Mar-01 59,741.65 202,578.58 375,384.36 110,618.70 17,647.03 46,810.10
Apr-01 59,741.65 202,578.58 374,720.57 110,405.99 17,607.95 46,725.29
May-01 59,680.16 202,163.35 374,720.57 110,192.03 17,568.66 46,639.87
Jun-01 59,680.16 202,163.35 374,720.57 109,976.81 17,529.16 46,553.84
Jul-01 59,680.16 202,163.35 374,045.34 109,760.33 17,489.44 46,467.20
Aug-01 59,617.47 201,740.82 374,045.34 109,542.58 17,449.50 46,379.93
Sep-01 59,617.47 201,740.82 374,045.34 109,323.55 17,409.34 46,292.03
Oct-01 59,617.47 201,740.82 373,358.49 109,103.23 17,368.96 46,203.51
Nov-01 59,553.54 201,310.86 373,358.49 108,881.62 17,328.37 46,114.35
Dec-01 59,553.54 201,310.86 373,358.49 108,658.70 17,287.55 46,024.55
Jan-02 59,553.54 201,310.86 372,659.80 108,434.48 17,246.50 45,934.10
Feb-02 59,488.36 200,121.73 372,659.80 108,208.94 17,205.23 45,843.01
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.9 7 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Apr-98 77,175.78 45,151.25 35,946.73 41,131.35 52,686.44 36,046.27
May-98 77,051.38 45,078.47 35,898.70 41,076.40 52,601.51 35,988.17
Jun-98 76,926.18 45,005.22 35,850.34 41,021.06 52,516.04 35,929.69
Jul-98 76,800.19 44,931.51 35,801.62 40,965.31 52,430.02 35,870.84
Aug-98 76,673.39 44,857.33 35,752.55 40,909.17 52,343.46 35,811.62
Sep-98 76,545.79 44,782.68 35,703.14 40,852.63 52,256.35 35,752.02
Oct-98 76,417.37 44,707.55 35,653.36 40,795.68 52,168.68 35,692.04
Nov-98 76,288.14 44,631.94 35,603.24 40,738.32 52,080.46 35,631.68
Dec-98 76,158.08 44,555.85 35,552.75 40,680.55 51,991.67 35,570.94
Jan-99 76,027.20 44,479.28 35,501.90 40,622.36 51,902.32 35,509.81
Feb-99 75,895.48 44,402.22 35,450.68 40,563.76 51,812.40 35,448.29
Mar-99 75,762.93 44,324.67 35,399.10 40,504.74 51,721.91 35,386.37
Apr-99 75,629.53 44,246.63 35,347.14 40,445.29 51,630.84 35,324.07
May-99 75,495.28 44,168.08 35,294.82 40,385.42 51,539.19 35,261.36
Jun-99 75,360.18 44,089.04 35,242.11 40,325.11 51,446.96 35,198.26
Jul-99 75,224.21 44,009.50 35,189.04 40,264.38 51,354.14 35,134.76
Aug-99 75,087.38 43,929.45 35,135.57 40,203.21 51,260.73 35,070.85
Sep-99 74,949.68 43,848.89 35,081.73 40,141.60 51,166.72 35,006.53
Oct-99 74,811.10 43,767.81 35,027.50 40,079.54 51,072.12 34,941.81
Nov-99 74,671.64 43,686.22 34,972.88 40,017.05 50,976.91 34,876.67
Dec-99 74,531.30 43,604.11 34,917.87 39,954.10 50,881.10 34,811.12
Jan-00 74,390.06 43,521.48 34,862.46 39,890.70 50,784.67 34,745.15
Feb-00 74,247.92 43,438.32 34,806.66 39,826.85 50,687.64 34,678.76
Mar-00 74,104.87 43,354.63 34,750.45 39,762.54 50,589.98 34,611.95
Apr-00 73,960.91 43,270.41 34,693.85 39,697.77 50,491.71 34,544.71
May-00 73,816.04 43,185.66 34,636.83 39,632.53 50,392.81 34,477.05
Jun-00 73,670.25 43,100.36 34,579.41 39,566.83 50,293.27 34,408.95
Jul-00 73,523.52 43,014.52 34,521.58 39,500.65 50,193.11 34,340.42
Aug-00 73,375.87 42,928.13 34,463.33 39,434.00 50,092.31 34,271.46
Sep-00 73,227.27 42,841.20 34,404.66 39,366.87 49,990.86 34,202.05
Oct-00 73,077.73 42,753.71 34,345.57 39,299.26 49,888.77 34,132.21
Nov-00 72,927.23 42,665.66 34,286.06 39,231.16 49,786.03 34,061.91
Dec-00 72,775.78 42,577.06 34,226.12 39,162.58 49,682.64 33,991.18
Jan-01 72,623.36 42,487.88 34,165.75 39,093.50 49,578.58 33,919.99
Feb-01 72,469.97 42,398.15 34,104.95 39,023.93 49,473.87 33,848.34
Mar-01 72,315.61 42,307.83 34,043.71 38,953.86 49,368.49 33,776.24
Apr-01 72,160.26 42,216.95 33,982.03 38,883.28 49,262.43 33,703.69
May-01 72,003.92 42,125.49 33,919.91 38,812.20 49,155.71 33,630.67
Jun-01 71,846.59 42,033.44 33,857.34 38,740.61 49,048.30 33,557.18
Jul-01 71,688.26 41,940.81 33,794.32 38,668.51 48,940.21 33,483.23
Aug-01 71,528.92 41,847.59 33,730.86 38,595.88 48,831.43 33,408.81
Sep-01 71,368.56 41,753.77 33,666.93 38,522.74 48,721.96 33,333.91
Oct-01 71,207.18 41,659.36 33,602.55 38,449.07 48,611.79 33,258.54
Nov-01 71,044.78 41,564.34 33,537.71 38,374.88 48,500.92 33,182.68
Dec-01 70,881.34 41,468.72 33,472.40 38,300.15 48,389.34 33,106.35
Jan-02 70,716.86 41,372.50 33,406.62 38,224.88 48,277.05 33,029.52
Feb-02 70,551.33 41,275.66 33,340.37 38,149.08 48,164.05 32,952.21
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
-----------------------------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
-----------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
-----------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
-----------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Apr-98 34,790.41 60,849.55 21,289.84 11,243.17 102,999.03
May-98 34,734.33 60,751.46 21,255.52 11,221.64 102,752.20
Jun-98 34,677.89 60,652.75 21,220.99 11,199.98 102,503.96
Jul-98 34,621.10 60,553.41 21,186.23 11,178.20 102,254.28
Aug-98 34,563.94 60,453.44 21,151.25 11,156.28 102,003.17
Sep-98 34,506.41 60,352.83 21,116.05 11,134.23 101,750.62
Oct-98 34,448.52 60,251.58 21,080.63 11,112.04 101,496.61
Nov-98 34,390.27 60,149.69 21,044.98 11,089.73 101,241.15
Dec-98 34,331.64 60,047.14 21,009.10 11,067.28 100,984.21
Jan-99 34,272.64 59,943.95 20,972.99 11,044.70 100,725.80
Feb-99 34,213.26 59,840.09 20,936.66 11,021.98 100,465.90
Mar-99 34,153.50 59,735.58 20,900.09 10,999.12 100,204.51
Apr-99 34,093.37 59,630.40 20,863.29 10,976.13 99,941.61
May-99 34,032.85 59,524.55 20,826.26 10,953.00 99,677.20
Jun-99 33,971.95 59,418.03 20,788.99 10,929.73 99,411.27
Jul-99 33,910.65 59,310.83 20,751.48 10,906.33 99,143.82
Aug-99 33,848.97 59,202.94 20,713.73 10,882.78 98,874.82
Sep-99 33,786.90 59,094.37 20,675.75 10,859.09 98,604.28
Oct-99 33,724.43 58,985.11 20,637.52 10,835.26 98,332.18
Nov-99 33,661.56 58,875.15 20,599.05 10,811.29 98,058.52
Dec-99 33,598.29 58,764.50 20,560.33 10,787.17 97,783.28
Jan-00 33,534.62 58,653.13 20,521.37 10,762.91 97,506.47
Feb-00 33,470.55 58,541.06 20,482.16 10,738.50 97,228.06
Mar-00 33,406.06 58,428.28 20,442.69 10,713.95 96,948.05
Apr-00 33,341.17 58,314.78 20,402.98 10,689.25 96,666.43
May-00 33,275.86 58,200.55 20,363.02 10,664.40 96,383.18
Jun-00 33,210.14 58,085.60 20,322.80 10,639.40 96,098.32
Jul-00 33,143.99 57,969.91 20,282.32 10,614.25 95,811.81
Aug-00 33,077.43 57,853.49 20,241.59 10,588.96 95,523.66
Sep-00 33,010.44 57,736.33 20,200.60 10,563.51 95,233.84
Oct-00 32,943.03 57,618.42 20,159.34 10,537.91 94,942.37
Nov-00 32,875.19 57,499.76 20,117.83 10,512.15 94,649.21
Dec-00 32,806.91 57,380.35 20,076.05 10,486.24 94,354.37
Jan-01 32,738.21 57,260.18 20,034.00 10,460.18 94,057.84
Feb-01 32,669.06 57,139.24 19,991.69 10,433.96 93,759.60
Mar-01 32,599.47 57,017.53 19,949.11 10,407.58 93,459.65
Apr-01 32,529.44 56,895.04 19,906.25 10,381.04 93,157.97
May-01 32,458.97 56,771.78 19,863.12 10,354.35 92,854.55
Jun-01 32,388.04 56,647.73 19,819.72 10,327.49 92,549.40
Jul-01 32,316.67 56,522.89 19,776.04 10,300.48 92,242.48
Aug-01 32,244.84 56,397.26 19,732.09 10,273.30 91,933.80
Sep-01 32,172.55 56,270.82 19,687.85 10,243.38 91,623.35
Oct-01 32,099.80 56,143.58 19,643.33 10,213.27 91,311.11
Nov-01 32,026.59 56,015.54 19,598.53 10,182.99 90,997.08
Dec-01 31,952.91 55,886.67 19,553.45 10,152.53 90,681.24
Jan-02 31,878.77 55,756.99 19,508.07 10,121.88 90,363.59
Feb-02 31,804.15 55,626.48 19,462.41 10,091.05 90,044.11
</TABLE>
Page 1
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-02 59,488.36 200,121.73 372,659.80 107,982.07 17,163.74 45,751.27
Apr-02 59,488.36 200,121.73 371,949.08 107,753.87 17,122.02 45,658.86
May-02 59,421.89 198,911.70 371,949.08 107,524.33 17,080.07 45,565.79
Jun-02 59,421.89 198,911.70 371,949.08 107,293.44 17,037.89 45,472.06
Jul-02 59,421.89 198,911.70 371,226.12 107,061.19 16,995.48 45,377.65
Aug-02 59,354.11 197,680.40 371,226.12 106,827.58 16,952.83 45,282.56
Sep-02 59,354.11 197,680.40 371,226.12 106,592.60 16,909.96 45,186.79
Oct-02 59,354.11 197,680.40 370,490.70 106,356.24 16,866.85 45,090.34
Nov-02 59,285.00 196,427.46 370,490.70 106,118.49 16,823.50 44,993.19
Dec-02 59,285.00 196,427.46 370,490.70 105,879.34 16,779.91 44,895.35
Jan-03 59,285.00 196,427.46 369,742.62 105,638.78 16,736.09 44,796.80
Feb-03 58,979.52 195,152.50 369,742.62 105,396.82 16,692.03 44,697.55
Mar-03 58,979.52 195,152.50 369,742.62 105,153.43 16,647.72 44,597.58
Apr-03 58,979.52 195,152.50 368,981.65 104,908.61 16,603.18 44,496.90
May-03 58,668.03 193,855.13 368,981.65 104,662.35 16,558.38 44,395.50
Jun-03 58,668.03 193,855.13 368,981.65 104,414.65 16,513.35 44,293.36
Jul-03 58,668.03 193,855.13 368,207.57 104,165.49 16,468.07 44,190.50
Aug-03 58,350.41 192,534.97 368,207.57 103,914.87 16,422.54 44,086.90
Sep-03 58,350.41 192,534.97 368,207.57 103,662.78 16,376.76 43,982.55
Oct-03 58,350.41 192,534.97 367,420.16 103,409.20 16,330.73 43,877.45
Nov-03 58,026.54 191,191.60 367,420.16 103,154.13 16,284.44 43,771.60
Dec-03 58,026.54 191,191.60 367,420.16 102,897.57 16,237.91 43,664.99
Jan-04 58,026.54 191,191.60 366,619.19 102,639.50 16,191.12 43,557.62
Feb-04 57,696.30 189,824.62 366,619.19 102,379.91 16,144.07 43,449.48
Mar-04 57,696.30 189,824.62 366,619.19 102,118.80 16,096.76 43,340.56
Apr-04 57,696.30 189,824.62 365,804.41 101,856.15 16,049.20 43,230.85
May-04 57,359.56 188,433.61 365,804.41 101,591.96 16,001.38 43,120.37
Jun-04 57,359.56 188,433.61 365,804.41 101,326.22 15,953.29 43,009.08
Jul-04 57,359.56 188,433.61 364,975.61 101,058.92 15,904.94 42,897.00
Aug-04 57,016.20 187,018.16 364,975.61 100,790.04 15,856.33 42,784.12
Sep-04 57,016.20 187,018.16 364,975.61 100,519.59 15,807.45 42,670.43
Oct-04 57,016.20 187,018.16 362,777.87 100,247.55 15,758.30 42,555.92
Nov-04 56,666.08 185,577.84 362,777.87 99,973.91 15,708.89 42,440.58
Dec-04 56,666.08 185,577.84 362,777.87 99,698.66 15,659.20 42,324.42
Jan-05 56,666.08 185,577.84 360,542.27 99,421.80 15,609.24 42,207.43
Feb-05 56,309.07 184,112.19 360,542.27 99,143.30 15,559.01 42,089.60
Mar-05 56,309.07 184,112.19 360,542.27 98,863.18 15,508.50 41,970.92
Apr-05 56,309.07 184,112.19 358,268.17 98,581.40 15,457.71 41,851.39
May-05 55,945.04 182,620.80 358,268.17 98,297.97 15,406.65 41,731.01
Jun-05 55,945.04 182,620.80 358,268.17 98,012.88 15,355.31 41,609.76
Jul-05 55,945.04 182,620.80 355,954.89 97,726.11 15,303.69 41,487.64
Aug-05 55,573.85 181,103.18 355,954.89 97,437.66 15,251.78 41,364.64
Sep-05 55,573.85 181,103.18 355,954.89 97,147.51 15,199.59 41,240.76
Oct-05 55,573.85 181,103.18 353,601.77 96,855.66 15,147.12 41,115.99
Nov-05 55,195.35 179,558.90 353,601.77 96,562.09 15,094.35 40,990.33
Dec-05 55,195.35 179,558.90 353,601.77 96,266.80 15,041.30 40,863.77
Jan-06 55,195.35 179,558.90 351,208.11 95,969.77 14,987.96 40,736.29
Feb-06 54,809.40 177,987.48 351,208.11 95,671.00 14,934.33 40,607.91
Mar-06 54,809.40 177,987.48 351,208.11 95,370.47 14,880.40 40,478.60
Apr-06 54,809.40 177,987.48 348,773.22 95,068.18 14,826.18 40,348.36
May-06 54,415.87 176,388.44 348,773.22 94,764.11 14,771.66 40,217.19
Jun-06 54,415.87 176,388.44 348,773.22 94,458.25 14,716.84 40,085.08
Jul-06 54,415.87 176,388.44 346,296.40 94,150.60 14,661.72 39,952.02
Aug-06 54,014.59 174,761.29 346,296.40 93,841.14 14,606.30 39,818.00
Sep-06 54,014.59 174,761.29 346,296.40 93,529.86 14,550.57 39,683.03
Oct-06 54,014.59 174,761.29 343,776.91 93,216.76 14,494.55 39,547.08
Nov-06 53,605.41 173,105.55 343,776.91 92,901.81 14,438.21 39,410.16
Dec-06 53,605.41 173,105.55 343,776.91 92,585.01 14,381.57 39,272.26
Jan-07 53,605.41 173,105.55 341,214.02 92,266.35 14,324.61 39,133.37
Feb-07 53,188.18 170,526.28 341,214.02 91,945.83 14,267.35 38,993.48
Mar-07 53,188.18 170,526.28 341,214.02 91,623.41 14,209.77 38,852.59
Apr-07 53,188.18 170,526.28 338,606.98 91,299.11 14,151.87 38,710.69
May-07 52,762.75 167,901.68 338,606.98 90,972.89 14,093.66 38,567.77
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.9 7 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-02 70,384.75 41,178.20 33,273.65 38,072.73 48,050.33 32,874.41
Apr-02 70,217.11 41,080.12 33,206.44 37,995.83 47,935.89 32,796.11
May-02 70,048.40 40,981.42 33,138.76 37,918.39 47,820.71 32,717.31
Jun-02 69,878.62 40,882.09 33,070.59 37,840.38 47,704.80 32,638.01
Jul-02 69,707.76 40,782.13 33,001.93 37,761.82 47,588.16 32,558.20
Aug-02 69,535.81 40,681.53 32,932.77 37,682.69 47,470.77 32,477.89
Sep-02 69,362.76 40,580.29 32,863.12 37,603.00 47,352.64 32,397.07
Oct-02 69,188.62 40,478.41 32,792.97 37,522.73 47,233.75 32,315.73
Nov-02 69,013.36 40,375.87 32,722.32 37,441.89 47,114.11 32,233.87
Dec-02 68,836.99 40,272.69 32,651.16 37,360.46 46,993.70 32,151.50
Jan-03 68,659.49 40,168.85 32,579.49 37,278.46 46,872.53 32,068.59
Feb-03 68,480.87 40,064.34 32,507.31 37,195.86 46,750.58 31,985.16
Mar-03 68,301.11 39,959.17 32,434.61 37,112.67 46,627.86 31,901.20
Apr-03 68,120.20 39,853.34 32,361.38 37,028.89 46,504.36 31,816.71
May-03 67,938.14 39,746.82 32,287.63 36,944.50 46,380.07 31,731.67
Jun-03 67,754.92 39,639.63 32,213.36 36,859.51 46,255.00 31,646.10
Jul-03 67,570.54 39,531.76 32,138.54 36,773.91 46,129.12 31,559.98
Aug-03 67,384.98 39,423.20 32,063.20 36,687.70 46,002.44 31,473.31
Sep-03 67,198.24 39,313.95 31,987.31 36,600.86 45,874.96 31,386.09
Oct-03 67,010.31 39,204.00 31,910.87 36,513.40 45,746.67 31,298.32
Nov-03 66,821.19 39,093.36 31,833.89 36,425.32 45,617.55 31,209.98
Dec-03 66,630.86 38,982.01 31,756.36 36,336.60 45,487.62 31,121.09
Jan-04 66,439.32 38,869.95 31,678.27 36,247.25 45,356.86 31,031.62
Feb-04 66,246.56 38,757.17 31,599.62 36,157.26 45,225.26 30,941.59
Mar-04 66,052.57 38,643.68 31,520.40 36,066.62 45,092.83 30,850.99
Apr-04 65,857.35 38,529.47 31,440.62 35,975.33 44,959.56 30,759.81
May-04 65,660.89 38,414.53 31,360.27 35,883.38 44,825.44 30,668.04
Jun-04 65,463.17 38,298.86 31,279.33 35,790.78 44,690.46 30,575.70
Jul-04 65,264.20 38,182.45 31,197.82 35,697.51 44,554.62 30,482.76
Aug-04 65,063.95 38,065.30 31,115.72 35,603.57 44,417.92 30,389.24
Sep-04 64,862.44 37,947.40 31,033.04 35,508.96 44,280.35 30,295.11
Oct-04 64,659.64 37,828.75 30,949.76 35,413.66 44,141.90 30,200.39
Nov-04 64,455.55 37,709.35 30,865.88 35,317.69 44,002.57 30,105.07
Dec-04 64,250.16 37,589.19 30,781.40 35,221.02 43,862.36 30,009.14
Jan-05 64,043.46 37,468.26 30,696.31 35,123.67 43,721.25 29,912.60
Feb-05 63,835.45 37,346.57 30,610.62 35,025.61 43,579.24 29,815.44
Mar-05 63,626.11 37,224.09 30,524.31 34,926.85 43,436.33 29,717.67
Apr-05 63,415.44 37,100.84 30,437.38 34,827.38 43,292.51 29,619.27
May-05 63,203.43 36,976.81 30,349.82 34,727.20 43,147.77 29,520.24
Jun-05 62,990.06 36,851.98 30,261.64 34,626.30 43,002.12 29,420.59
Jul-05 62,775.34 36,726.36 30,172.83 34,524.68 42,855.53 29,320.30
Aug-05 62,559.26 36,599.94 30,083.37 34,422.32 42,708.01 29,219.37
Sep-05 62,341.79 36,472.71 29,993.28 34,319.24 42,559.55 29,117.80
Oct-05 62,122.95 36,344.68 29,902.54 34,215.41 42,410.15 29,015.59
Nov-05 61,902.71 36,215.83 29,811.15 34,110.83 42,259.80 28,912.72
Dec-05 61,681.06 36,086.15 29,719.10 34,005.51 42,108.49 28,809.20
Jan-06 61,458.01 35,955.66 29,626.40 33,899.43 41,956.21 28,705.02
Feb-06 61,233.53 35,824.33 29,533.02 33,792.59 41,802.97 28,600.17
Mar-06 61,007.63 35,692.17 29,438.98 33,684.99 41,648.75 28,494.66
Apr-06 60,780.29 35,559.16 29,344.26 33,576.61 41,493.54 28,388.48
May-06 60,551.50 35,425.31 29,248.87 33,467.45 41,337.36 28,281.62
Jun-06 60,321.25 35,290.61 29,152.78 33,357.51 41,180.17 28,174.08
Jul-06 60,089.54 35,155.05 29,056.01 33,246.78 41,021.99 28,065.85
Aug-06 59,856.36 35,018.62 28,958.55 33,135.26 40,862.79 27,956.94
Sep-06 59,621.68 34,881.33 28,860.38 33,022.94 40,702.59 27,847.33
Oct-06 59,385.52 34,743.16 28,761.52 32,909.81 40,541.36 27,737.02
Nov-06 59,147.85 34,604.11 28,661.94 32,795.87 40,379.11 27,626.02
Dec-06 58,908.67 34,464.18 28,561.64 32,681.11 40,215.82 27,514.30
Jan-07 58,667.96 34,323.36 28,460.63 32,565.53 40,051.50 27,401.88
Feb-07 58,425.72 34,181.64 28,358.90 32,449.12 39,886.13 27,288.74
Mar-07 58,181.94 34,039.02 28,256.43 32,331.87 39,719.70 27,174.88
Apr-07 57,936.61 33,895.49 28,153.23 32,213.79 39,552.22 27,060.29
May-07 57,689.72 33,751.04 28,049.28 32,094.85 39,383.67 26,944.97
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
-----------------------------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
-----------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
-----------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
-----------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Mar-02 31,729.05 55,495.14 19,416.46 10,060.04 89,722.79
Apr-02 31,653.48 55,362.96 19,370.21 10,028.84 89,399.62
May-02 31,577.43 55,229.94 19,323.67 9,997.45 89,074.60
Jun-02 31,500.89 55,096.08 19,276.83 9,965.88 88,747.70
Jul-02 31,423.87 54,961.36 19,229.70 9,934.11 88,418.93
Aug-02 31,346.35 54,825.78 19,182.27 9,902.16 88,088.27
Sep-02 31,268.35 54,689.34 19,134.53 9,870.01 87,626.62
Oct-02 31,189.84 54,552.04 19,086.49 9,837.68 87,162.31
Nov-02 31,110.84 54,413.86 19,038.14 9,805.14 86,695.34
Dec-02 31,031.33 54,274.79 18,989.49 9,772.42 86,225.68
Jan-03 30,951.32 54,134.85 18,940.52 9,739.49 85,753.32
Feb-03 30,870.79 53,994.01 18,891.25 9,706.37 85,278.24
Mar-03 30,789.76 53,852.28 18,841.66 9,673.05 84,800.43
Apr-03 30,708.21 53,709.64 18,791.75 9,639.54 84,319.87
May-03 30,626.13 53,566.10 18,741.53 9,605.82 83,836.56
Jun-03 30,543.54 53,421.64 18,690.99 9,571.89 83,350.46
Jul-03 30,460.42 53,276.26 18,640.12 9,537.77 82,861.56
Aug-03 30,376.77 53,129.95 18,588.93 9,503.44 82,369.86
Sep-03 30,292.59 52,982.72 18,537.42 9,468.91 81,875.33
Oct-03 30,207.88 52,834.55 18,485.58 9,434.16 81,377.95
Nov-03 30,122.62 52,685.43 18,433.41 9,399.21 80,877.72
Dec-03 30,036.82 52,535.36 18,380.90 9,364.05 80,374.61
Jan-04 29,950.47 52,384.34 18,328.06 9,328.68 79,868.60
Feb-04 29,863.58 52,232.36 18,274.89 9,293.10 79,359.69
Mar-04 29,776.13 52,079.41 18,221.37 9,257.31 78,847.85
Apr-04 29,688.13 51,925.49 18,167.52 9,221.30 78,333.06
May-04 29,599.56 51,770.58 18,113.32 9,185.07 77,815.32
Jun-04 29,510.43 51,614.69 18,058.78 9,148.63 77,294.60
Jul-04 29,420.73 51,457.81 18,003.89 9,111.97 76,770.89
Aug-04 29,330.47 51,299.93 17,948.65 9,075.09 76,244.16
Sep-04 29,239.62 51,141.04 17,893.06 9,037.99 75,714.40
Oct-04 29,148.20 50,981.15 17,837.12 9,000.66 75,181.60
Nov-04 29,056.20 50,820.23 17,780.82 8,963.12 74,645.74
Dec-04 28,963.61 50,658.29 17,724.16 8,925.34 74,106.79
Jan-05 28,870.43 50,495.32 17,667.14 8,887.34 73,564.75
Feb-05 28,776.66 50,331.31 17,609.75 8,849.12 73,019.59
Mar-05 28,682.29 50,166.26 17,552.01 8,810.66 72,471.29
Apr-05 28,587.33 50,000.15 17,493.89 8,771.98 71,919.84
May-05 28,491.75 49,832.99 17,435.40 8,733.06 71,365.23
Jun-05 28,395.57 49,664.76 17,376.55 8,693.91 70,807.42
Jul-05 28,298.77 49,495.47 17,317.31 8,654.52 70,246.40
Aug-05 28,201.36 49,325.09 17,257.70 8,614.90 69,682.16
Sep-05 28,103.33 49,153.63 17,197.71 8,575.04 69,114.67
Oct-05 28,004.68 48,981.08 17,137.34 8,534.95 68,543.92
Nov-05 27,905.39 48,807.43 17,076.58 8,494.61 67,969.89
Dec-05 27,805.48 48,632.68 17,015.44 8,454.03 67,392.56
Jan-06 27,704.93 48,456.81 16,953.91 8,413.21 66,811.91
Feb-06 27,603.74 48,279.82 16,891.99 8,372.14 66,227.92
Mar-06 27,501.90 48,101.71 16,829.67 8,330.83 65,640.57
Apr-06 27,399.41 47,922.46 16,766.95 8,289.26 65,049.85
May-06 27,296.28 47,742.07 16,703.84 8,247.46 64,455.73
Jun-06 27,192.48 47,560.53 16,640.32 8,205.39 63,858.19
Jul-06 27,088.03 47,377.83 16,576.40 8,163.08 63,257.21
Aug-06 26,982.91 47,193.98 16,512.08 8,120.52 62,652.79
Sep-06 26,877.12 47,008.95 16,447.34 8,075.11 62,044.88
Oct-06 26,770.66 46,822.74 16,382.19 8,029.44 61,433.48
Nov-06 26,663.52 46,635.35 16,316.63 7,983.49 60,818.56
Dec-06 26,555.70 46,446.77 16,250.64 7,937.27 60,200.11
Jan-07 26,447.19 46,256.98 16,184.24 7,890.77 59,578.10
Feb-07 26,337.99 46,065.99 16,117.42 7,843.99 58,952.52
Mar-07 26,228.10 45,873.78 16,050.17 7,796.93 58,323.34
Apr-07 26,117.50 45,680.35 15,982.49 7,749.59 57,690.54
May-07 26,006.20 45,485.68 15,914.38 7,701.96 57,054.10
</TABLE>
Page 2
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Jun-07 52,762.75 167,901.68 338,606.98 90,644.76 14,035.13 38,423.82
Jul-07 52,762.75 167,901.68 335,955.04 90,314.71 13,976.28 38,278.84
Aug-07 52,328.94 165,230.96 335,955.04 89,982.71 13,917.11 38,132.82
Sep-07 52,328.94 165,230.96 335,955.04 89,648.77 13,857.61 37,985.75
Oct-07 52,328.94 165,230.96 333,257.42 89,312.86 13,797.79 37,837.63
Nov-07 51,886.60 162,513.29 333,257.42 88,974.98 13,737.64 37,688.44
Dec-07 51,886.60 162,513.29 333,257.42 88,635.11 13,677.16 37,538.19
Jan-08 51,886.60 162,513.29 330,513.34 88,293.25 13,616.35 37,386.86
Feb-08 51,155.89 159,747.87 330,513.34 87,949.37 13,555.20 37,234.44
Mar-08 51,155.89 159,747.87 330,513.34 87,603.48 13,493.72 37,080.92
Apr-08 51,155.89 159,747.87 327,721.98 87,255.56 13,431.91 36,926.31
May-08 50,410.81 156,933.84 327,721.98 86,905.59 13,369.75 36,770.58
Jun-08 50,410.81 156,933.84 327,721.98 86,553.57 13,307.26 36,613.74
Jul-08 50,410.81 156,933.84 324,882.55 86,199.47 13,244.42 36,455.78
Aug-08 49,651.06 154,070.35 324,882.55 85,843.30 13,181.24 36,296.68
Sep-08 49,651.06 154,070.35 324,882.55 85,485.04 13,117.72 36,136.43
Oct-08 49,651.06 154,070.35 321,994.21 85,124.67 13,053.85 35,975.04
Nov-08 48,876.37 151,156.54 321,994.21 84,762.18 12,989.62 35,812.49
Dec-08 48,876.37 151,156.54 321,994.21 84,397.56 12,925.05 35,648.78
Jan-09 48,876.37 151,156.54 319,056.11 84,030.80 12,860.12 35,483.89
Feb-09 48,086.44 148,191.52 319,056.11 83,661.89 12,794.83 35,317.81
Mar-09 48,086.44 148,191.52 319,056.11 83,290.81 12,729.19 35,150.55
Apr-09 48,086.44 148,191.52 316,067.41 82,917.55 12,663.19 34,982.08
May-09 47,280.96 145,174.38 316,067.41 82,542.09 12,596.83 34,812.41
Jun-09 47,280.96 145,174.38 316,067.41 82,164.43 12,530.10 34,641.52
Jul-09 47,280.96 145,174.38 313,027.22 81,784.55 12,463.01 34,469.40
Aug-09 46,459.64 142,104.23 313,027.22 81,402.44 12,395.55 34,296.05
Sep-09 46,459.64 142,104.23 313,027.22 81,018.09 12,327.73 34,121.45
Oct-09 46,459.64 142,104.23 308,322.62 80,631.48 12,259.53 33,945.60
Nov-09 45,622.16 138,980.11 308,322.62 80,242.59 12,190.96 33,768.49
Dec-09 45,622.16 138,980.11 308,322.62 79,851.42 12,122.01 33,590.11
Jan-10 45,622.16 138,980.11 303,536.99 79,457.95 12,052.68 33,410.45
Feb-10 44,768.20 135,801.09 303,536.99 79,062.18 11,982.98 33,229.50
Mar-10 44,768.20 135,801.09 303,536.99 78,664.07 11,912.89 33,047.25
Apr-10 44,768.20 135,801.09 298,668.93 78,263.63 11,842.42 32,863.70
May-10 43,897.43 132,566.19 298,668.93 77,860.83 11,771.57 32,678.82
Jun-10 43,897.43 132,566.19 298,668.93 77,455.67 11,700.32 32,492.62
Jul-10 43,897.43 132,566.19 293,717.01 77,048.13 11,628.69 32,305.09
Aug-10 43,009.54 129,274.45 293,717.01 76,638.19 11,556.66 32,116.21
Sep-10 43,009.54 129,274.45 293,717.01 76,225.85 11,484.24 31,925.97
Oct-10 43,009.54 129,274.45 288,679.79 75,811.08 11,411.42 31,734.37
Nov-10 42,104.18 125,924.85 288,679.79 75,393.87 11,338.21 31,541.39
Dec-10 42,104.18 125,924.85 288,679.79 74,974.22 11,264.59 31,347.03
Jan-11 42,104.18 125,924.85 283,555.81 74,552.10 11,190.57 31,151.28
Feb-11 41,181.00 122,516.38 283,555.81 74,127.50 11,116.15 30,954.12
Mar-11 41,181.00 122,516.38 283,555.81 73,700.40 11,041.32 30,755.54
Apr-11 41,181.00 122,516.38 278,343.57 73,270.80 10,966.07 30,555.54
May-11 40,239.66 119,048.00 278,343.57 72,838.67 10,890.42 30,354.11
Jun-11 40,239.66 119,048.00 278,343.57 72,404.00 10,814.35 30,151.23
Jul-11 40,239.66 119,048.00 273,041.55 71,966.78 10,737.87 29,946.89
Aug-11 39,279.80 115,518.67 273,041.55 71,526.99 10,660.96 29,741.09
Sep-11 39,279.80 115,518.67 273,041.55 71,084.61 10,583.64 29,533.82
Oct-11 39,279.80 115,518.67 267,648.20 70,639.64 10,505.89 29,325.05
Nov-11 38,301.05 111,927.32 267,648.20 70,192.06 10,427.72 29,114.79
Dec-11 38,301.05 111,927.32 267,648.20 69,741.84 10,349.12 28,903.02
Jan-12 38,301.05 111,927.32 262,161.95 69,288.98 10,270.08 28,689.72
Feb-12 37,303.05 107,208.47 262,161.95 68,833.46 10,190.62 28,474.90
Mar-12 37,303.05 107,208.47 262,161.95 68,375.26 10,110.72 28,258.54
Apr-12 37,303.05 107,208.47 256,581.20 67,914.37 10,030.38 28,040.62
May-12 36,285.41 102,406.69 256,581.20 67,450.77 9,949.61 27,821.15
Jun-12 36,285.41 102,406.69 256,581.20 66,984.45 9,868.39 27,600.09
Jul-12 36,285.41 102,406.69 250,904.32 66,515.39 9,786.72 27,377.45
Aug-12 35,247.75 97,520.52 250,904.32 66,043.57 9,704.61 27,153.22
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Jun-07 57,441.25 33,605.68 27,944.60 31,975.07 39,214.05 26,828.92
Jul-07 57,191.20 33,459.39 27,839.16 31,854.42 39,043.35 26,712.13
Aug-07 56,939.57 33,312.17 27,732.96 31,732.91 38,871.56 26,594.60
Sep-07 56,686.32 33,164.01 27,626.00 31,610.52 38,698.67 26,476.32
Oct-07 56,431.47 33,014.91 27,518.28 31,487.26 38,524.69 26,357.29
Nov-07 56,174.99 32,864.86 27,409.78 31,363.11 38,349.60 26,237.49
Dec-07 55,916.88 32,713.86 27,300.50 31,238.07 38,173.39 26,116.94
Jan-08 55,657.13 32,561.89 27,190.44 31,112.14 37,996.06 25,995.62
Feb-08 55,395.72 32,408.95 27,079.59 30,985.30 37,817.61 25,873.52
Mar-08 55,132.65 32,255.05 26,967.94 30,857.55 37,638.01 25,750.65
Apr-08 54,867.91 32,100.16 26,855.50 30,728.89 37,457.28 25,627.00
May-08 54,601.48 31,944.28 26,742.24 30,599.30 37,275.39 25,502.56
Jun-08 54,333.35 31,787.42 26,628.18 30,468.78 37,092.34 25,377.32
Jul-08 54,063.51 31,629.55 26,513.29 30,337.32 36,908.13 25,251.29
Aug-08 53,791.96 31,470.68 26,397.58 30,204.93 36,722.75 25,124.46
Sep-08 53,518.68 31,310.80 26,281.04 30,071.58 36,536.18 24,996.82
Oct-08 53,243.66 31,149.90 26,163.67 29,937.27 36,348.43 24,868.36
Nov-08 52,966.89 30,987.98 26,045.45 29,802.01 36,159.48 24,739.09
Dec-08 52,688.35 30,825.02 25,926.38 29,665.77 35,969.33 24,609.00
Jan-09 52,408.04 30,661.03 25,806.46 29,528.55 35,777.97 24,478.08
Feb-09 52,125.95 30,495.99 25,685.68 29,390.35 35,585.39 24,346.32
Mar-09 51,842.06 30,329.90 25,564.04 29,251.16 35,391.59 24,213.73
Apr-09 51,556.37 30,162.76 25,441.52 29,110.97 35,196.55 24,080.29
May-09 51,268.85 29,994.55 25,318.12 28,969.77 35,000.27 23,946.00
Jun-09 50,979.51 29,825.27 25,193.83 28,827.56 34,802.74 23,810.85
Jul-09 50,688.32 29,654.91 25,068.66 28,684.33 34,603.95 23,674.85
Aug-09 50,395.28 29,483.47 24,942.58 28,540.07 34,403.90 23,537.98
Sep-09 50,100.37 29,310.94 24,815.60 28,394.78 34,202.57 23,400.24
Oct-09 49,803.59 29,137.31 24,687.71 28,248.44 33,999.96 23,261.62
Nov-09 49,504.91 28,962.57 24,558.90 28,101.05 33,796.06 23,122.12
Dec-09 49,204.34 28,786.72 24,429.17 27,952.61 33,590.86 22,981.73
Jan-10 48,901.85 28,609.75 24,298.51 27,803.10 33,384.36 22,840.45
Feb-10 48,597.43 28,431.65 24,166.91 27,652.52 33,176.54 22,698.26
Mar-10 48,291.08 28,252.42 24,034.37 27,500.86 32,967.40 22,555.18
Apr-10 47,982.78 28,072.05 23,900.87 27,348.11 32,756.93 22,411.18
May-10 47,672.51 27,890.53 23,766.42 27,194.27 32,545.11 22,266.26
Jun-10 47,360.27 27,707.86 23,631.00 27,039.32 32,331.95 22,120.43
Jul-10 47,046.04 27,524.02 23,494.61 26,883.26 32,117.43 21,973.66
Aug-10 46,729.81 27,339.01 23,357.24 26,726.07 31,901.55 21,825.96
Sep-10 46,411.56 27,152.82 23,218.89 26,567.77 31,684.29 21,677.32
Oct-10 46,091.29 26,965.45 23,079.54 26,408.32 31,465.65 21,527.73
Nov-10 45,768.98 26,776.88 22,939.19 26,247.73 31,245.61 21,377.19
Dec-10 45,444.62 26,587.12 22,797.84 26,085.99 31,024.18 21,225.69
Jan-11 45,118.20 26,396.15 22,655.47 25,923.09 30,801.33 21,073.23
Feb-11 44,789.69 26,203.96 22,512.09 25,759.02 30,577.07 20,919.79
Mar-11 44,459.10 26,010.54 22,367.67 25,593.77 30,351.38 20,765.38
Apr-11 44,126.40 25,815.90 22,222.21 25,427.34 30,124.25 20,609.99
May-11 43,791.58 25,620.01 22,075.72 25,259.71 29,895.68 20,453.61
Jun-11 43,454.63 25,422.88 21,928.17 25,090.88 29,665.65 20,296.23
Jul-11 43,115.53 25,224.50 21,779.56 24,920.84 29,434.15 20,137.85
Aug-11 42,774.28 25,024.85 21,629.89 24,749.58 29,201.18 19,978.46
Sep-11 42,430.85 24,823.93 21,479.14 24,577.09 28,966.73 19,818.06
Oct-11 42,085.23 24,621.73 21,327.31 24,403.36 28,730.79 19,656.63
Nov-11 41,737.42 24,418.24 21,174.39 24,228.39 28,493.34 19,494.18
Dec-11 41,387.39 24,213.46 21,020.37 24,052.16 28,254.38 19,330.69
Jan-12 41,035.13 24,007.37 20,865.25 23,874.67 28,013.90 19,166.16
Feb-12 40,680.63 23,799.97 20,709.02 23,695.90 27,771.89 19,000.59
Mar-12 40,323.88 23,591.26 20,551.67 23,515.85 27,528.34 18,833.96
Apr-12 39,964.85 23,381.21 20,393.18 23,334.51 27,283.24 18,666.27
May-12 39,603.54 23,169.82 20,233.56 23,151.86 27,036.58 18,497.51
Jun-12 39,239.92 22,957.09 20,072.79 22,967.91 26,788.35 18,327.68
Jul-12 38,873.99 22,743.01 19,910.87 22,782.64 26,538.53 18,156.76
Aug-12 38,505.73 22,527.56 19,747.79 22,596.03 26,287.13 17,984.76
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
-----------------------------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
-----------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
-----------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
-----------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Jun-07 25,894.20 45,289.78 15,845.84 7,654.05 56,414.00
Jul-07 25,781.48 45,092.63 15,776.86 7,605.85 55,770.23
Aug-07 25,668.04 44,894.22 15,707.44 7,557.37 55,122.75
Sep-07 25,553.88 44,694.55 15,637.58 7,508.59 54,342.46
Oct-07 25,438.99 44,493.61 15,567.28 7,459.52 53,557.68
Nov-07 25,323.37 44,291.39 15,496.53 7,410.16 52,768.39
Dec-07 25,207.02 44,087.88 15,425.33 7,360.50 51,974.57
Jan-08 25,089.92 43,883.08 15,353.67 7,310.54 51,176.18
Feb-08 24,972.08 43,676.97 15,281.56 7,260.29 50,373.19
Mar-08 24,853.49 43,469.56 15,208.99 7,209.73 49,565.60
Apr-08 24,734.15 43,260.82 15,135.95 7,158.87 48,753.35
May-08 24,614.04 43,050.75 15,062.46 7,107.71 47,936.44
Jun-08 24,493.17 42,839.34 14,988.49 7,056.24 47,114.83
Jul-08 24,371.53 42,626.59 14,914.05 7,004.46 46,288.49
Aug-08 24,249.12 42,412.48 14,839.14 6,952.37 45,457.41
Sep-08 24,125.92 42,197.01 14,763.75 6,899.97 44,621.54
Oct-08 24,001.94 41,980.17 14,687.89 6,847.25 43,780.87
Nov-08 23,877.18 41,761.95 14,611.53 6,794.22 42,935.37
Dec-08 23,751.61 41,542.34 14,534.70 6,740.87 42,085.00
Jan-09 23,625.25 41,321.33 14,457.37 6,687.20 41,229.75
Feb-09 23,498.09 41,098.91 14,379.55 6,633.21 40,369.57
Mar-09 23,370.11 40,875.08 14,301.24 6,578.90 39,504.45
Apr-09 23,241.32 40,649.82 14,222.43 6,524.26 38,634.36
May-09 23,111.71 40,423.13 14,143.11 6,469.29 37,759.26
Jun-09 22,981.28 40,194.99 14,063.29 6,413.99 36,879.13
Jul-09 22,850.01 39,965.40 13,982.97 6,358.37 35,993.94
Aug-09 22,717.91 39,734.35 13,902.13 6,302.41 35,103.66
Sep-09 22,584.97 39,501.83 13,820.77 6,246.11 34,208.26
Oct-09 22,451.18 39,267.83 13,738.90 6,189.48 33,307.72
Nov-09 22,316.54 39,032.34 13,656.51 6,132.50 32,401.99
Dec-09 22,181.04 38,795.35 13,573.59 6,075.19 31,491.06
Jan-10 22,044.68 38,556.85 13,490.15 6,017.53 30,574.89
Feb-10 21,907.45 38,316.83 13,406.17 5,959.53 29,653.45
Mar-10 21,769.35 38,075.29 13,321.66 5,901.18 28,726.71
Apr-10 21,630.37 37,832.21 13,236.61 5,842.48 27,794.64
May-10 21,490.50 37,587.57 13,151.02 5,783.43 26,857.22
Jun-10 21,349.74 37,341.39 13,064.88 5,724.02 25,914.40
Jul-10 21,208.09 37,093.63 12,978.20 5,664.26 24,966.16
Aug-10 21,065.54 36,844.30 12,890.96 5,604.14 24,012.47
Sep-10 20,922.07 36,593.38 12,803.17 5,543.66 23,053.30
Oct-10 20,777.70 36,340.86 12,714.82 5,482.82 22,088.61
Nov-10 20,632.40 36,086.73 12,625.91 5,421.61 21,118.38
Dec-10 20,486.18 35,830.99 12,536.43 5,360.04 20,142.56
Jan-11 20,339.03 35,573.62 12,446.38 5,298.10 19,161.14
Feb-11 20,190.94 35,314.61 12,355.76 5,235.78 18,174.07
Mar-11 20,041.91 35,053.95 12,264.56 5,173.10 17,181.33
Apr-11 19,891.93 34,791.63 12,172.78 5,110.03 16,182.87
May-11 19,741.00 34,527.64 12,080.42 5,046.59 15,178.68
Jun-11 19,589.10 34,261.97 11,987.47 4,982.77 14,168.71
Jul-11 19,436.24 33,994.61 11,893.92 4,918.57 13,152.94
Aug-11 19,282.40 33,725.54 11,799.78 4,853.98 12,131.32
Sep-11 19,127.59 33,454.77 11,705.05 4,786.43 11,103.83
Oct-11 18,971.79 33,182.26 11,609.70 4,718.46 10,070.44
Nov-11 18,815.00 32,908.03 11,513.76 4,650.10 9,031.10
Dec-11 18,657.21 32,632.05 11,417.20 4,581.32 7,985.78
Jan-12 18,498.41 32,354.31 11,320.02 4,512.13 6,934.45
Feb-12 18,338.60 32,074.80 11,222.23 4,442.52 5,877.08
Mar-12 18,177.78 31,793.52 11,123.81 4,372.50 4,813.63
Apr-12 18,015.93 31,510.44 11,024.77 4,302.06 3,744.06
May-12 17,853.05 31,225.56 10,925.10 4,231.20 2,668.35
Jun-12 17,689.14 30,938.87 10,824.79 4,159.91 1,586.44
Jul-12 17,524.18 30,650.35 10,723.85 4,088.20 498.32
Aug-12 17,358.17 30,359.99 10,622.26 4,016.05 0.00
</TABLE>
Page 3
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Sep-12 35,247.75 97,520.52 250,904.32 65,568.98 9,622.05 26,927.37
Oct-12 35,247.75 97,520.52 245,129.65 65,091.61 9,539.04 26,699.90
Nov-12 34,189.67 92,548.48 245,129.65 64,611.42 9,455.57 26,470.81
Dec-12 34,189.67 92,548.48 245,129.65 64,128.42 9,371.65 26,240.06
Jan-13 34,189.67 92,548.48 239,255.52 63,642.58 9,287.26 26,007.67
Feb-13 32,777.98 87,489.05 239,255.52 63,153.89 9,202.42 25,773.60
Mar-13 32,777.98 87,489.05 239,255.52 62,662.32 9,117.11 25,537.86
Apr-13 32,777.98 87,489.05 233,280.21 62,167.87 9,031.33 25,300.42
May-13 31,338.51 82,340.71 233,280.21 61,670.51 8,945.09 25,061.28
Jun-13 31,338.51 82,340.71 233,280.21 61,170.23 8,858.37 24,820.42
Jul-13 31,338.51 82,340.71 227,201.97 60,667.01 8,771.17 24,577.84
Aug-13 29,870.72 77,101.88 227,201.97 60,160.83 8,683.50 24,333.52
Sep-13 29,870.72 77,101.88 227,201.97 59,651.69 8,595.35 24,087.44
Oct-13 29,870.72 77,101.88 221,019.03 59,139.54 8,506.72 23,839.60
Nov-13 28,374.05 71,770.98 221,019.03 58,624.39 8,417.60 23,589.97
Dec-13 28,374.05 71,770.98 221,019.03 58,106.22 8,327.99 23,338.56
Jan-14 28,374.05 71,770.98 214,729.59 57,585.00 8,237.89 23,085.35
Feb-14 26,847.93 66,346.38 214,729.59 57,060.71 8,147.30 22,830.31
Mar-14 26,847.93 66,346.38 214,729.59 56,533.35 8,056.22 22,573.45
Apr-14 26,847.93 66,346.38 208,331.82 56,002.89 7,964.63 22,314.74
May-14 25,291.79 60,826.45 208,331.82 55,469.31 7,872.54 22,054.18
Jun-14 25,291.79 60,826.45 208,331.82 54,932.60 7,779.95 21,791.75
Jul-14 25,291.79 60,826.45 201,823.84 54,392.74 7,686.86 21,527.44
Aug-14 23,705.03 55,209.51 201,823.84 53,849.70 7,593.25 21,261.23
Sep-14 23,705.03 55,209.51 201,823.84 53,303.47 7,499.13 20,993.11
Oct-14 23,705.03 55,209.51 193,285.44 52,754.03 7,404.49 20,723.06
Nov-14 22,087.05 49,493.85 193,285.44 52,201.37 7,309.34 20,451.08
Dec-14 22,087.05 49,493.85 193,285.44 51,645.46 7,213.66 20,177.14
Jan-15 22,087.05 49,493.85 184,599.96 51,086.28 7,117.47 19,901.25
Feb-15 20,437.23 43,677.74 184,599.96 50,523.82 7,020.74 19,623.37
Mar-15 20,437.23 43,677.74 184,599.96 49,958.05 6,923.49 19,343.49
Apr-15 20,437.23 43,677.74 175,764.87 49,388.96 6,825.70 19,061.61
May-15 18,754.96 37,759.41 175,764.87 48,816.52 6,727.38 18,777.71
Jun-15 18,754.96 37,759.41 175,764.87 48,240.73 6,628.51 18,491.77
Jul-15 18,754.96 37,759.41 166,777.59 47,661.55 6,529.11 18,203.78
Aug-15 17,039.59 31,737.06 166,777.59 47,078.96 6,429.17 17,913.72
Sep-15 17,039.59 31,737.06 166,777.59 46,492.96 6,328.67 17,621.58
Oct-15 17,039.59 31,737.06 157,635.51 45,903.51 6,227.63 17,327.35
Nov-15 15,290.47 25,608.88 157,635.51 45,310.60 6,126.03 17,031.00
Dec-15 15,290.47 25,608.88 157,635.51 44,714.20 6,023.88 16,732.53
Jan-16 15,290.47 25,608.88 148,335.96 44,114.30 5,921.17 16,431.91
Feb-16 13,506.93 19,372.98 148,335.96 43,510.88 5,817.89 16,129.14
Mar-16 13,506.93 19,372.98 148,335.96 42,903.91 5,714.05 15,824.20
Apr-16 13,506.93 19,372.98 138,876.22 42,293.38 5,609.64 15,517.06
May-16 11,688.30 13,027.50 138,876.22 41,679.26 5,504.66 15,207.73
Jun-16 11,688.30 13,027.50 138,876.22 41,061.53 5,399.11 14,896.17
Jul-16 11,688.30 13,027.50 129,253.54 40,440.17 5,292.97 14,582.38
Aug-16 9,833.90 6,570.49 129,253.54 39,815.16 5,186.26 14,266.34
Sep-16 9,833.90 6,570.49 129,253.54 39,186.48 5,078.96 13,948.03
Oct-16 9,833.90 6,570.49 119,465.11 38,554.11 4,971.08 13,627.44
Nov-16 7,943.00 0.00 119,465.11 37,918.02 4,862.60 13,304.55
Dec-16 7,943.00 0.00 119,465.11 37,278.19 4,753.53 12,979.34
Jan-17 7,943.00 0.00 109,508.07 36,634.61 4,643.86 12,651.79
Feb-17 6,014.90 0.00 109,508.07 35,987.24 4,533.59 12,321.90
Mar-17 6,014.90 0.00 109,508.07 35,336.07 4,422.72 11,989.64
Apr-17 6,014.90 0.00 99,379.53 34,681.08 4,311.24 11,654.99
May-17 4,048.87 0.00 99,379.53 34,022.23 4,199.15 11,317.95
Jun-17 4,048.87 0.00 99,379.53 33,359.52 4,086.45 10,978.48
Jul-17 4,048.87 0.00 89,076.52 32,692.91 3,973.13 10,636.59
Aug-17 2,044.16 0.00 89,076.52 32,022.39 3,859.19 10,292.23
Sep-17 2,044.16 0.00 89,076.52 31,347.93 3,744.63 9,945.41
Oct-17 2,044.16 0.00 78,596.04 30,669.50 3,629.43 9,596.10
Nov-17 0.00 0.00 78,596.04 29,987.09 3,513.61 9,244.28
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Sep-12 38,135.13 22,310.74 19,583.54 22,408.09 26,034.13 17,811.67
Oct-12 37,762.17 22,092.54 19,418.11 22,218.80 25,779.51 17,637.47
Nov-12 37,386.83 21,872.95 19,251.49 22,028.15 25,523.27 17,462.16
Dec-12 37,009.10 21,651.96 19,083.68 21,836.14 25,265.41 17,285.74
Jan-13 36,628.97 21,429.57 18,914.67 21,642.74 25,005.90 17,108.19
Feb-13 36,246.42 21,205.76 18,744.44 21,447.96 24,744.74 16,929.51
Mar-13 35,861.43 20,980.52 18,572.99 21,251.78 24,481.91 16,749.69
Apr-13 35,473.99 20,753.86 18,400.30 21,054.19 24,217.42 16,568.73
May-13 35,084.08 20,525.74 18,226.38 20,855.19 23,951.23 16,386.62
Jun-13 34,691.69 20,296.18 18,051.22 20,654.76 23,683.36 16,203.35
Jul-13 34,296.81 20,065.15 17,874.79 20,452.89 23,413.78 16,018.91
Aug-13 33,899.41 19,832.66 17,697.10 20,249.57 23,142.48 15,833.30
Sep-13 33,499.48 19,598.68 17,518.14 20,044.79 22,869.45 15,646.51
Oct-13 33,097.00 19,363.21 17,337.89 19,838.54 22,594.69 15,458.52
Nov-13 32,691.96 19,126.25 17,156.34 19,630.82 22,318.18 15,269.34
Dec-13 32,284.34 18,887.77 16,973.50 19,421.60 22,039.90 15,078.96
Jan-14 31,874.13 18,647.78 16,789.34 19,210.88 21,759.86 14,887.36
Feb-14 31,461.30 18,406.26 16,603.86 18,998.65 21,478.03 14,694.54
Mar-14 31,045.85 18,163.20 16,417.05 18,784.90 21,194.41 14,500.50
Apr-14 30,627.75 17,918.59 16,228.91 18,569.61 20,908.98 14,305.22
May-14 30,206.99 17,672.43 16,039.41 18,352.78 20,621.74 14,108.69
Jun-14 29,783.55 17,424.70 15,848.55 18,134.39 20,332.66 13,910.92
Jul-14 29,357.42 17,175.39 15,656.32 17,914.44 20,041.75 13,711.89
Aug-14 28,928.57 16,924.50 15,462.71 17,692.91 19,748.98 13,511.58
Sep-14 28,496.99 16,672.00 15,267.71 17,469.79 19,454.35 13,310.01
Oct-14 28,062.66 16,417.90 15,071.32 17,245.06 19,157.85 13,107.15
Nov-14 27,625.57 16,162.18 14,873.51 17,018.73 18,859.45 12,903.00
Dec-14 27,185.70 15,904.84 14,674.29 16,790.77 18,559.16 12,697.55
Jan-15 26,743.02 15,645.85 14,473.63 16,561.18 18,256.95 12,490.79
Feb-15 26,297.53 15,385.22 14,271.54 16,329.93 17,952.82 12,282.71
Mar-15 25,849.20 15,122.93 14,068.00 16,097.03 17,646.76 12,073.31
Apr-15 25,398.02 14,858.97 13,862.99 15,862.46 17,338.74 11,862.58
May-15 24,943.96 14,593.32 13,656.52 15,626.21 17,028.77 11,650.51
Jun-15 24,487.02 14,325.99 13,448.56 15,388.26 16,716.82 11,437.08
Jul-15 24,027.16 14,056.95 13,239.11 15,148.60 16,402.88 11,222.30
Aug-15 23,564.38 13,786.20 13,028.16 14,907.22 16,086.95 11,006.15
Sep-15 23,098.64 13,513.73 12,815.69 14,664.11 15,769.00 10,788.62
Oct-15 22,629.95 13,239.52 12,601.71 14,419.26 15,449.04 10,569.71
Nov-15 22,158.27 12,963.57 12,386.18 14,172.65 15,127.03 10,349.40
Dec-15 21,683.59 12,685.86 12,169.11 13,924.27 14,802.97 10,127.69
Jan-16 21,205.88 12,406.38 11,950.48 13,674.11 14,476.85 9,904.57
Feb-16 20,725.14 12,125.12 11,730.28 13,422.15 14,148.66 9,680.03
Mar-16 20,241.33 11,842.07 11,508.51 13,168.39 13,818.37 9,454.06
Apr-16 19,754.44 11,557.22 11,285.14 12,912.80 13,485.98 9,226.65
May-16 19,264.45 11,270.56 11,060.17 12,655.38 13,151.48 8,997.79
Jun-16 18,771.35 10,982.07 10,833.58 12,396.12 12,814.84 8,767.48
Jul-16 18,275.10 10,691.74 10,605.37 12,134.99 12,476.06 8,535.70
Aug-16 17,775.70 10,399.57 10,375.52 11,871.99 12,135.13 8,302.44
Sep-16 17,273.11 10,105.54 10,144.02 11,607.10 11,792.02 8,067.70
Oct-16 16,767.33 9,809.63 9,910.87 11,340.32 11,446.73 7,831.47
Nov-16 16,258.32 9,511.84 9,676.03 11,071.62 11,099.25 7,593.73
Dec-16 15,746.08 9,212.15 9,439.52 10,800.99 10,749.55 7,354.48
Jan-17 15,230.57 8,910.56 9,201.30 10,528.42 10,397.62 7,113.70
Feb-17 14,711.78 8,607.04 8,961.38 10,253.89 10,043.45 6,871.39
Mar-17 14,189.69 8,301.60 8,719.74 9,977.39 9,687.03 6,627.54
Apr-17 13,664.27 7,994.21 8,476.36 9,698.91 9,328.34 6,382.13
May-17 13,135.51 7,684.86 8,231.24 9,418.43 8,967.36 6,135.17
Jun-17 12,603.38 7,373.54 7,984.35 9,135.94 8,604.09 5,886.63
Jul-17 12,067.87 7,060.24 7,735.70 8,851.42 8,238.50 5,636.51
Aug-17 11,528.94 6,744.94 7,485.26 8,564.86 7,870.59 5,384.79
Sep-17 10,986.59 6,427.64 7,233.02 8,276.25 7,500.33 5,131.47
Oct-17 10,440.78 6,108.32 6,978.98 7,985.56 7,127.72 4,876.54
Nov-17 9,891.49 5,786.96 6,723.11 7,692.79 6,752.74 4,619.99
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
-----------------------------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
-----------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
-----------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
-----------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Sep-12 17,191.10 30,067.79 10,520.02 3,943.48 0.00
Oct-12 17,022.97 29,773.72 10,417.13 3,870.46 0.00
Nov-12 16,853.77 29,477.79 10,313.59 3,797.01 0.00
Dec-12 16,683.50 29,179.96 10,209.39 3,723.13 0.00
Jan-13 16,512.13 28,880.25 10,104.53 3,648.79 0.00
Feb-13 16,339.68 28,578.62 9,999.00 3,574.02 0.00
Mar-13 16,166.13 28,275.08 9,892.79 3,498.79 0.00
Apr-13 15,991.48 27,969.60 9,785.91 3,423.12 0.00
May-13 15,815.71 27,662.18 9,678.35 3,346.99 0.00
Jun-13 15,638.82 27,352.80 9,570.11 3,270.40 0.00
Jul-13 15,460.81 27,041.45 9,461.18 3,193.36 0.00
Aug-13 15,281.66 26,728.11 9,351.55 3,115.85 0.00
Sep-13 15,101.38 26,412.79 9,241.22 3,037.88 0.00
Oct-13 14,919.94 26,095.45 9,130.19 2,959.44 0.00
Nov-13 14,737.35 25,776.10 9,018.46 2,880.53 0.00
Dec-13 14,553.60 25,454.71 8,906.01 2,801.15 0.00
Jan-14 14,368.68 25,131.28 8,792.85 2,721.30 0.00
Feb-14 14,182.58 24,805.78 8,678.97 2,640.96 0.00
Mar-14 13,995.30 24,478.22 8,564.36 2,560.15 0.00
Apr-14 13,806.82 24,148.56 8,449.02 2,478.85 0.00
May-14 13,617.14 23,816.81 8,332.95 2,397.06 0.00
Jun-14 13,426.26 23,482.95 8,216.14 2,314.78 0.00
Jul-14 13,234.16 23,146.96 8,098.59 2,232.01 0.00
Aug-14 13,040.84 22,808.84 7,980.28 2,148.75 0.00
Sep-14 12,846.28 22,468.56 7,861.23 2,064.98 0.00
Oct-14 12,650.49 22,126.11 7,741.41 1,980.71 0.00
Nov-14 12,453.45 21,781.48 7,620.84 1,895.94 0.00
Dec-14 12,255.16 21,434.66 7,499.49 1,810.66 0.00
Jan-15 12,055.61 21,085.64 7,377.38 1,724.87 0.00
Feb-15 11,854.78 20,734.38 7,254.48 1,638.57 0.00
Mar-15 11,652.68 20,380.90 7,130.80 1,551.75 0.00
Apr-15 11,449.29 20,025.16 7,006.34 1,464.40 0.00
May-15 11,244.60 19,667.16 6,881.08 1,376.54 0.00
Jun-15 11,038.61 19,306.88 6,755.03 1,288.15 0.00
Jul-15 10,831.31 18,944.30 6,628.17 1,199.23 0.00
Aug-15 10,622.69 18,579.42 6,500.51 1,109.77 0.00
Sep-15 10,412.74 18,212.21 6,372.03 1,019.78 0.00
Oct-15 10,201.45 17,842.66 6,242.74 929.25 0.00
Nov-15 9,988.82 17,470.77 6,112.62 838.18 0.00
Dec-15 9,774.84 17,096.50 5,981.67 746.56 0.00
Jan-16 9,559.49 16,719.85 5,849.89 654.40 0.00
Feb-16 9,342.78 16,340.81 5,717.27 561.68 0.00
Mar-16 9,124.68 15,959.35 5,583.81 468.40 0.00
Apr-16 8,905.19 15,575.46 5,449.49 374.57 0.00
May-16 8,684.31 15,189.13 5,314.33 280.17 0.00
Jun-16 8,462.02 14,800.33 5,178.30 185.21 0.00
Jul-16 8,238.31 14,409.07 5,041.40 89.68 0.00
Aug-16 8,013.18 14,015.31 4,903.63 0.00 0.00
Sep-16 7,786.62 13,619.04 4,764.99 0.00 0.00
Oct-16 7,558.62 13,220.26 4,625.46 0.00 0.00
Nov-16 7,329.16 12,818.93 4,485.05 0.00 0.00
Dec-16 7,098.24 12,415.05 4,343.74 0.00 0.00
Jan-17 6,865.86 12,008.59 4,201.53 0.00 0.00
Feb-17 6,631.99 11,599.55 4,058.42 0.00 0.00
Mar-17 6,396.63 11,187.91 3,914.39 0.00 0.00
Apr-17 6,159.78 10,773.64 3,769.45 0.00 0.00
May-17 5,921.42 10,356.74 3,623.58 0.00 0.00
Jun-17 5,681.54 9,937.18 3,476.79 0.00 0.00
Jul-17 5,440.13 9,514.95 3,329.06 0.00 0.00
Aug-17 5,197.18 9,090.03 3,180.39 0.00 0.00
Sep-17 4,952.69 8,662.41 3,030.78 0.00 0.00
Oct-17 4,706.64 8,232.06 2,880.21 0.00 0.00
Nov-17 4,459.03 7,798.98 2,728.68 0.00 0.00
</TABLE>
Page 4
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 1 9,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dec-17 0.00 0.00 78,596.04 29,300.67 3,397.16 8,889.94
Jan-18 0.00 0.00 67,935.03 28,610.22 3,280.06 8,533.05
Feb-18 0.00 0.00 67,935.03 27,915.71 3,162.33 8,173.61
Mar-18 0.00 0.00 67,935.03 27,217.12 3,043.95 7,811.58
Apr-18 0.00 0.00 57,090.39 26,514.42 2,924.92 7,446.96
May-18 0.00 0.00 57,090.39 25,807.60 2,805.24 7,079.72
Jun-18 0.00 0.00 57,090.39 25,096.62 2,684.91 6,709.85
Jul-18 0.00 0.00 46,058.94 24,381.47 2,563.91 6,337.32
Aug-18 0.00 0.00 46,058.94 23,662.12 2,442.26 5,962.12
Sep-18 0.00 0.00 46,058.94 22,938.54 2,319.94 5,584.23
Oct-18 0.00 0.00 34,837.49 22,210.71 2,196.94 5,203.62
Nov-18 0.00 0.00 34,837.49 21,478.60 2,073.28 4,820.29
Dec-18 0.00 0.00 34,837.49 20,742.19 1,948.94 4,434.21
Jan-19 0.00 0.00 23,422.74 20,001.46 1,823.91 4,045.35
Feb-19 0.00 0.00 23,422.74 19,256.37 1,698.21 3,653.71
Mar-19 0.00 0.00 23,422.74 18,506.91 1,571.81 3,259.25
Apr-19 0.00 0.00 11,811.37 17,753.04 1,444.72 2,861.97
May-19 0.00 0.00 11,811.37 16,994.75 1,316.94 2,461.83
Jun-19 0.00 0.00 11,811.37 16,232.00 1,188.46 2,058.82
Jul-19 0.00 0.00 0.00 15,464.77 1,059.27 1,652.93
Aug-19 0.00 0.00 0.00 14,693.03 929.38 1,244.12
Sep-19 0.00 0.00 0.00 13,916.75 798.77 832.37
Oct-19 0.00 0.00 0.00 13,135.92 667.45 417.67
Nov-19 0.00 0.00 0.00 12,350.50 535.41 0.00
Dec-19 0.00 0.00 0.00 11,560.46 402.65 0.00
Jan-20 0.00 0.00 0.00 10,765.79 269.16 0.00
Feb-20 0.00 0.00 0.00 9,966.44 134.94 0.00
Mar-20 0.00 0.00 0.00 9,162.40 0.00 0.00
Apr-20 0.00 0.00 0.00 8,353.63 0.00 0.00
May-20 0.00 0.00 0.00 7,540.12 0.00 0.00
Jun-20 0.00 0.00 0.00 6,721.82 0.00 0.00
Jul-20 0.00 0.00 0.00 5,898.72 0.00 0.00
Aug-20 0.00 0.00 0.00 5,070.78 0.00 0.00
Sep-20 0.00 0.00 0.00 4,237.97 0.00 0.00
Oct-20 0.00 0.00 0.00 3,400.28 0.00 0.00
Nov-20 0.00 0.00 0.00 2,557.66 0.00 0.00
Dec-20 0.00 0.00 0.00 1,710.09 0.00 0.00
Jan-21 0.00 0.00 0.00 857.54 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
------------------------------------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dec-17 9,338.71 5,463.56 6,465.41 7,397.92 6,375.36 4,361.81
Jan-18 8,782.41 5,138.10 6,205.86 7,100.93 5,995.59 4,101.98
Feb-18 8,222.57 4,810.57 5,944.44 6,801.81 5,613.39 3,840.49
Mar-18 7,659.16 4,480.95 5,681.15 6,500.55 5,228.77 3,577.34
Apr-18 7,092.17 4,149.23 5,415.97 6,197.12 4,841.69 3,312.52
May-18 6,521.57 3,815.41 5,148.89 5,891.52 4,452.15 3,046.01
Jun-18 5,947.33 3,479.45 4,879.89 5,583.72 4,060.13 2,777.80
Jul-18 5,369.44 3,141.36 4,608.96 5,273.71 3,665.61 2,507.89
Aug-18 4,787.87 2,801.11 4,336.09 4,961.48 3,268.59 2,236.26
Sep-18 4,202.59 2,458.70 4,061.26 4,647.02 2,869.03 1,962.89
Oct-18 3,613.59 2,114.11 3,784.45 4,330.29 2,466.93 1,687.79
Nov-18 3,020.84 1,767.33 3,505.67 4,011.29 2,062.27 1,410.94
Dec-18 2,424.32 1,418.33 3,224.88 3,690.00 1,655.04 1,132.32
Jan-19 1,824.00 1,067.12 2,942.07 3,366.41 1,245.21 851.93
Feb-19 1,219.85 713.67 2,657.24 3,040.50 832.77 569.75
Mar-19 611.86 357.97 2,370.36 2,712.24 417.71 285.78
Apr-19 0.00 0.00 2,081.43 2,381.64 0.00 0.00
May-19 0.00 0.00 1,790.42 2,048.66 0.00 0.00
Jun-19 0.00 0.00 1,497.33 1,713.29 0.00 0.00
Jul-19 0.00 0.00 1,202.13 1,375.51 0.00 0.00
Aug-19 0.00 0.00 904.81 1,035.31 0.00 0.00
Sep-19 0.00 0.00 605.36 692.67 0.00 0.00
Oct-19 0.00 0.00 303.76 347.57 0.00 0.00
Nov-19 0.00 0.00 0.00 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
-----------------------------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
-----------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
-----------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
-----------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Dec-17 4,209.84 7,363.13 2,576.19 0.00 0.00
Jan-18 3,959.06 6,924.52 2,422.73 0.00 0.00
Feb-18 3,706.69 6,483.11 2,268.29 0.00 0.00
Mar-18 3,452.71 6,038.89 2,112.87 0.00 0.00
Apr-18 3,197.11 5,591.84 1,956.46 0.00 0.00
May-18 2,939.89 5,141.94 1,799.05 0.00 0.00
Jun-18 2,681.02 4,689.18 1,640.64 0.00 0.00
Jul-18 2,420.51 4,233.54 1,481.22 0.00 0.00
Aug-18 2,158.34 3,775.00 1,320.79 0.00 0.00
Sep-18 1,894.51 3,313.54 1,159.33 0.00 0.00
Oct-18 1,628.99 2,849.14 996.85 0.00 0.00
Nov-18 1,361.78 2,381.78 833.33 0.00 0.00
Dec-18 1,092.87 1,911.45 668.78 0.00 0.00
Jan-19 822.25 1,438.12 503.17 0.00 0.00
Feb-19 549.90 961.78 336.51 0.00 0.00
Mar-19 275.82 482.41 168.79 0.00 0.00
Apr-19 0.00 0.00 0.00 0.00 0.00
May-19 0.00 0.00 0.00 0.00 0.00
Jun-19 0.00 0.00 0.00 0.00 0.00
Jul-19 0.00 0.00 0.00 0.00 0.00
Aug-19 0.00 0.00 0.00 0.00 0.00
Sep-19 0.00 0.00 0.00 0.00 0.00
Oct-19 0.00 0.00 0.00 0.00 0.00
Nov-19 0.00 0.00 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 5
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
-------------------------------------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
-------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
-------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
-------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
-------------------------------------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
-------------------------------------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
-------------------------------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
-------------------------------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT
CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
-----------------------------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
-----------------------------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
-----------------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
-----------------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 6
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
18 19 20 21 24 25 26
-- -- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG- HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH VALLEJO
OR WA WA VA NY CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85
- ------------------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
116,653.23 86,783.57 85,898.03 29,970.41 106,528.25 14,980.87 7,663.64
116,489.49 86,661.24 85,776.95 29,934.57 106,470.41 14,957.16 7,651.51
116,324.69 86,538.13 85,655.09 29,898.50 106,412.16 14,933.30 7,639.30
116,158.84 86,414.22 85,532.44 29,862.19 106,353.51 14,909.29 7,627.02
115,991.91 86,289.52 85,409.02 29,825.66 106,294.45 14,885.13 7,614.66
115,823.91 86,164.02 85,284.79 29,788.89 106,234.98 14,860.82 7,602.23
115,654.82 86,037.71 85,159.78 29,751.90 106,175.10 14,836.36 7,589.72
115,484.65 85,910.60 85,033.96 29,714.66 106,114.80 14,811.75 7,577.12
115,313.38 85,782.66 84,907.33 29,677.19 106,054.08 14,786.99 7,564.46
115,141.00 85,653.91 84,779.89 29,639.49 105,992.94 14,762.07 7,551.71
114,967.52 85,524.33 84,651.63 29,601.54 105,931.38 14,736.99 7,538.88
114,792.92 85,393.92 84,522.55 29,563.35 105,869.38 14,711.76 7,525.97
114,617.19 85,262.67 84,392.64 29,524.92 105,808.02 14,686.37 7,512.98
114,440.33 85,130.58 84,261.90 29,486.24 105,746.23 14,660.82 7,499.91
114,262.34 84,997.64 84,130.32 29,447.32 105,684.02 14,635.12 7,486.76
114,083.19 84,863.85 83,997.89 29,408.16 105,621.37 14,609.25 7,473.53
113,902.90 84,729.20 83,864.62 29,368.74 105,558.28 14,583.22 7,460.22
113,721.44 84,593.69 83,730.49 29,329.07 105,494.76 14,557.03 7,446.82
113,538.81 84,457.30 83,595.50 29,289.16 105,430.79 14,530.68 7,433.34
113,355.00 84,320.05 83,459.64 29,248.98 105,366.38 14,504.16 7,419.77
113,170.02 84,181.91 83,322.91 29,208.56 105,301.52 14,477.47 7,406.12
112,983.84 84,042.88 83,185.30 29,167.87 105,236.20 14,450.63 7,392.39
112,796.46 83,902.97 83,046.81 29,126.93 105,170.44 14,423.61 7,378.57
112,607.87 83,762.15 82,907.44 29,085.73 105,104.21 14,396.42 7,364.66
112,418.07 83,620.43 82,767.16 29,044.27 105,038.65 14,369.07 7,350.66
112,227.04 83,477.80 82,625.99 29,002.54 104,972.63 14,341.54 7,336.58
112,034.79 83,334.26 82,483.91 28,960.55 104,906.15 14,313.85 7,322.42
111,841.30 83,189.80 82,340.92 28,918.29 104,839.20 14,285.98 7,308.16
111,646.56 83,044.41 82,197.01 28,875.76 104,771.80 14,257.93 7,293.81
111,450.56 82,898.08 82,052.18 28,832.97 104,703.92 14,229.72 7,279.38
111,253.31 82,750.82 81,906.42 28,789.90 104,635.57 14,201.32 7,264.85
111,054.78 82,602.61 81,759.73 28,746.56 104,566.74 14,172.75 7,250.24
110,854.97 82,453.45 81,612.09 28,702.94 104,497.44 14,144.00 7,235.53
110,653.88 82,303.33 81,463.51 28,659.04 104,427.65 14,115.07 7,220.73
110,451.49 82,152.26 81,313.97 28,614.87 104,357.38 14,085.96 7,205.84
110,247.80 82,000.21 81,163.47 28,570.42 104,286.62 14,056.67 7,190.86
110,042.80 81,847.18 81,012.01 28,525.68 104,216.54 14,027.20 7,175.78
109,836.47 81,693.18 80,859.57 28,480.66 104,145.97 13,997.55 7,160.61
109,628.82 81,538.18 80,706.16 28,435.36 104,074.91 13,967.70 7,145.34
109,419.83 81,382.19 80,551.76 28,389.76 104,003.36 13,937.68 7,129.98
109,209.49 81,225.20 80,396.38 28,343.88 103,931.31 13,907.46 7,114.53
108,997.80 81,067.20 80,239.99 28,297.71 103,858.76 13,877.06 7,098.97
108,784.74 80,908.19 80,082.60 28,251.24 103,785.71 13,846.47 7,083.32
108,570.31 80,748.16 79,924.20 28,204.48 103,712.14 13,815.69 7,067.58
108,354.50 80,587.10 79,764.79 28,157.42 103,638.07 13,784.71 7,051.73
108,137.30 80,425.01 79,604.35 28,110.06 103,563.48 13,753.54 7,035.79
107,918.70 80,261.88 79,442.88 28,062.40 103,488.37 13,722.18 7,019.74
<CAPTION>
27 28 29 30 31 32 33
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS BOISE
CA IA IA IA IA ID ID
- ------------------------------------------------------------------------------------------------------------------------------------
1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31 2,012,010.19
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
8,054.52 19,796.76 10,392.77 9,343.68 9,767.58 7,907.38 12,541.53
8,041.78 19,765.42 10,376.32 9,328.89 9,752.12 7,894.86 12,521.68
8,028.95 19,733.89 10,359.76 9,314.01 9,736.56 7,882.27 12,501.70
8,016.04 19,702.17 10,343.11 9,299.04 9,720.91 7,869.60 12,481.61
8,003.05 19,670.24 10,326.35 9,283.97 9,705.16 7,856.84 12,461.38
7,989.98 19,638.12 10,309.49 9,268.81 9,689.31 7,844.01 12,441.03
7,976.83 19,605.80 10,292.52 9,253.55 9,673.36 7,831.10 12,420.55
7,963.60 19,573.27 10,275.44 9,238.20 9,657.31 7,818.11 12,399.95
7,950.28 19,540.54 10,258.26 9,222.76 9,641.16 7,805.04 12,379.22
7,936.88 19,507.61 10,240.97 9,207.21 9,624.92 7,791.89 12,358.35
7,923.40 19,474.48 10,223.58 9,191.57 9,608.57 7,778.65 12,337.36
7,909.83 19,441.13 10,206.07 9,175.84 9,592.11 7,765.33 12,316.24
7,896.18 19,407.58 10,188.46 9,160.00 9,575.56 7,751.93 12,294.98
7,882.45 19,373.82 10,170.74 9,144.07 9,558.90 7,738.45 12,273.60
7,868.63 19,339.85 10,152.90 9,128.03 9,542.14 7,724.88 12,252.07
7,854.72 19,305.67 10,134.96 9,111.90 9,525.28 7,711.22 12,230.42
7,840.73 19,271.27 10,116.90 9,095.67 9,508.31 7,697.49 12,208.63
7,826.64 19,236.66 10,098.73 9,079.33 9,491.23 7,683.66 12,186.70
7,812.48 19,201.84 10,080.45 9,062.89 9,474.05 7,669.75 12,164.64
7,798.22 19,166.80 10,062.05 9,046.35 9,456.76 7,655.75 12,142.44
7,783.87 19,131.53 10,043.54 9,029.71 9,439.36 7,641.67 12,120.10
7,769.44 19,096.05 10,024.92 9,012.97 9,421.86 7,627.50 12,097.62
7,754.91 19,060.35 10,006.17 8,996.12 9,404.24 7,613.24 12,075.01
7,740.29 19,024.43 9,987.31 8,979.16 9,386.52 7,598.89 12,052.25
7,725.59 18,988.28 9,968.34 8,962.10 9,368.68 7,584.45 12,029.35
7,710.79 18,951.90 9,949.24 8,944.93 9,350.73 7,569.92 12,006.30
7,695.90 18,915.30 9,930.03 8,927.66 9,332.67 7,555.30 11,983.12
7,680.91 18,878.48 9,910.69 8,910.27 9,314.50 7,540.59 11,959.79
7,665.83 18,841.42 9,891.24 8,892.78 9,296.22 7,525.79 11,936.31
7,650.66 18,804.13 9,871.66 8,875.18 9,277.82 7,510.89 11,912.69
7,635.40 18,766.61 9,851.96 8,857.47 9,259.31 7,495.91 11,888.92
7,620.03 18,728.85 9,832.14 8,839.65 9,240.68 7,480.83 11,865.00
7,604.58 18,690.86 9,812.20 8,821.72 9,221.94 7,465.65 11,840.93
7,589.02 18,652.63 9,792.13 8,803.68 9,203.07 7,450.38 11,816.71
7,573.37 18,614.17 9,771.94 8,785.52 9,184.10 7,435.02 11,792.34
7,557.63 18,575.46 9,751.62 8,767.26 9,165.00 7,419.56 11,767.82
7,541.78 18,536.51 9,731.17 8,748.87 9,145.78 7,404.00 11,743.15
7,525.84 18,497.32 9,710.60 8,730.38 9,126.45 7,388.35 11,718.32
7,509.79 18,457.89 9,689.90 8,711.76 9,106.99 7,372.60 11,693.34
7,493.65 18,418.21 9,669.07 8,693.04 9,087.41 7,356.75 11,668.20
7,477.40 18,378.28 9,648.10 8,674.19 9,067.71 7,340.80 11,642.91
7,461.06 18,338.11 9,627.01 8,655.23 9,047.89 7,324.75 11,617.45
7,444.61 18,297.68 9,605.79 8,636.15 9,027.94 7,308.60 11,591.84
7,428.06 18,257.00 9,584.44 8,616.95 9,007.87 7,292.36 11,566.07
7,411.40 18,216.07 9,562.95 8,597.63 8,987.68 7,276.01 11,540.14
7,394.65 18,174.88 9,541.32 8,578.19 8,967.36 7,259.56 11,514.05
7,377.78 18,133.44 9,519.57 8,558.63 8,946.91 7,243.00 11,487.79
<CAPTION>
34 35 36 37 38
-- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
IL IL LA MT OR
- -----------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- -----------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10,068.81 10,197.48 4,987.64 5,956.62 10,545.97
10,052.87 10,181.34 4,979.75 5,947.19 10,529.28
10,036.83 10,165.10 4,971.80 5,937.70 10,512.48
10,020.70 10,148.76 4,963.81 5,928.15 10,495.58
10,004.46 10,132.31 4,955.77 5,918.55 10,478.58
9,988.12 10,115.77 4,947.67 5,908.88 10,461.46
9,971.68 10,099.12 4,939.53 5,899.16 10,444.25
9,955.14 10,082.36 4,931.34 5,889.37 10,426.92
9,938.50 10,065.51 4,923.09 5,879.52 10,409.49
9,921.75 10,048.54 4,914.79 5,869.62 10,391.94
9,904.89 10,031.47 4,906.45 5,859.65 10,374.29
9,887.93 10,014.30 4,898.05 5,849.61 10,356.53
9,870.87 9,997.02 4,889.59 5,839.52 10,338.65
9,853.70 9,979.63 4,881.09 5,829.36 10,320.67
9,836.42 9,962.13 4,872.53 5,819.14 10,302.57
9,819.04 9,944.52 4,863.92 5,808.85 10,284.36
9,801.54 9,926.80 4,855.25 5,798.50 10,266.04
9,783.94 9,908.97 4,846.53 5,788.09 10,247.60
9,766.23 9,891.04 4,837.76 5,777.61 10,229.05
9,748.40 9,872.98 4,828.93 5,767.07 10,210.38
9,730.47 9,854.82 4,820.04 5,756.46 10,191.60
9,712.42 9,836.54 4,811.11 5,745.78 10,172.70
9,694.26 9,818.15 4,802.11 5,735.04 10,153.68
9,675.99 9,799.65 4,793.06 5,724.23 10,134.54
9,657.61 9,781.03 4,783.95 5,713.35 10,115.29
9,639.11 9,762.29 4,774.79 5,702.41 10,095.91
9,620.49 9,743.44 4,765.57 5,691.40 10,076.41
9,601.76 9,724.47 4,756.29 5,680.32 10,056.79
9,582.91 9,705.38 4,746.95 5,669.17 10,037.05
9,563.95 9,686.17 4,737.56 5,657.95 10,017.19
9,544.86 9,666.84 4,728.10 5,646.66 9,997.20
9,525.66 9,647.40 4,718.59 5,635.30 9,977.09
9,506.34 9,627.83 4,709.02 5,623.86 9,956.85
9,486.90 9,608.13 4,699.39 5,612.36 9,936.48
9,467.33 9,588.32 4,689.70 5,600.79 9,915.99
9,447.64 9,568.38 4,679.95 5,589.14 9,895.37
9,427.84 9,548.32 4,670.13 5,577.42 9,874.63
9,407.90 9,528.13 4,660.26 5,565.63 9,853.75
9,387.85 9,507.82 4,650.32 5,553.77 9,832.74
9,367.67 9,487.38 4,640.33 5,541.83 9,811.60
9,347.36 9,466.81 4,630.27 5,529.81 9,790.33
9,326.92 9,446.12 4,620.15 5,517.72 9,768.93
9,306.36 9,425.30 4,609.96 5,505.56 9,747.40
9,285.67 9,404.34 4,599.71 5,493.32 9,725.73
9,264.86 9,383.26 4,589.40 5,481.00 9,703.92
9,243.91 9,362.04 4,579.02 5,468.61 9,681.98
9,222.83 9,340.69 4,568.58 5,456.14 9,659.90
</TABLE>
Page 7
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
18 19 20 21 24 25 26
-- -- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG- HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH VALLEJO
OR WA WA VA NY CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85
- ------------------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
107,698.70 80,097.70 79,280.38 28,014.44 103,412.73 13,690.62 7,003.60
107,477.27 79,932.47 79,116.83 27,966.17 103,337.81 13,658.87 6,987.35
107,254.42 79,766.18 78,952.24 27,917.60 103,262.36 13,626.92 6,971.01
107,030.13 79,598.82 78,786.59 27,868.72 103,186.39 13,594.77 6,954.56
106,804.40 79,430.38 78,619.87 27,819.53 103,109.89 13,562.41 6,938.01
106,577.22 79,260.87 78,452.09 27,770.02 103,032.86 13,529.86 6,921.36
106,348.57 79,090.27 78,283.23 27,720.20 102,911.58 13,497.10 6,904.60
106,118.45 78,918.57 78,113.28 27,670.07 102,789.45 13,464.14 6,887.74
105,886.84 78,745.77 77,942.25 27,619.62 102,666.47 13,430.98 6,870.77
105,653.75 78,571.87 77,770.12 27,568.84 102,542.64 13,397.61 6,853.70
105,419.15 78,396.84 77,596.88 27,517.75 102,417.94 13,364.02 6,836.52
105,183.04 78,220.70 77,422.53 27,466.33 102,292.38 13,330.23 6,819.24
104,945.41 78,043.42 77,247.06 27,414.58 102,165.94 13,296.23 6,801.84
104,706.25 77,865.01 77,070.47 27,362.50 102,039.92 13,262.02 6,784.34
104,465.55 77,685.45 76,892.74 27,310.10 101,913.02 13,227.60 6,766.73
104,223.30 77,504.74 76,713.88 27,257.36 101,785.24 13,192.95 6,749.01
103,979.49 77,322.87 76,533.86 27,204.29 101,656.57 13,158.10 6,731.18
103,734.10 77,139.83 76,352.69 27,150.87 101,527.01 13,123.02 6,713.24
103,487.14 76,955.62 76,170.36 27,097.13 101,396.54 13,087.73 6,695.18
103,238.59 76,770.22 75,986.86 27,043.03 101,265.17 13,052.22 6,677.02
102,988.43 76,583.64 75,802.18 26,988.60 101,132.88 13,016.49 6,658.74
102,736.67 76,395.86 75,616.31 26,933.82 100,999.67 12,980.53 6,640.34
102,483.28 76,206.87 75,429.26 26,878.69 100,865.53 12,944.35 6,621.83
102,228.26 76,016.68 75,241.00 26,823.21 100,730.46 12,907.94 6,603.21
101,971.59 75,825.26 75,051.53 26,767.38 100,594.45 12,871.31 6,584.47
101,713.28 75,632.61 74,860.85 26,711.20 100,458.86 12,834.45 6,565.61
101,453.30 75,438.73 74,668.95 26,654.66 100,322.32 12,797.36 6,546.64
101,191.64 75,243.60 74,475.81 26,597.75 100,184.83 12,760.04 6,527.55
100,928.30 75,047.22 74,281.44 26,540.49 100,046.39 12,722.48 6,508.33
100,663.26 74,849.58 74,085.81 26,482.87 99,906.98 12,684.69 6,489.00
100,396.52 74,650.67 73,888.94 26,424.87 99,766.60 12,646.67 6,469.55
100,128.05 74,450.49 73,690.79 26,366.51 99,625.25 12,608.41 6,449.98
99,857.86 74,249.02 73,491.38 26,307.78 99,482.91 12,569.91 6,430.28
99,585.93 74,046.26 73,290.69 26,248.68 99,339.58 12,531.17 6,410.46
99,312.25 73,842.20 73,088.71 26,189.20 99,195.25 12,492.18 6,390.52
99,036.80 73,636.83 72,885.43 26,129.35 99,049.92 12,452.96 6,370.46
98,759.58 73,430.14 72,680.85 26,069.11 98,903.58 12,413.49 6,350.27
98,480.57 73,222.12 72,474.96 26,008.49 98,757.65 12,373.78 6,329.95
98,199.76 73,012.77 72,267.75 25,947.49 98,610.70 12,333.81 6,309.51
97,917.15 72,802.08 72,059.20 25,886.09 98,462.73 12,293.60 6,288.94
97,632.72 72,590.03 71,849.32 25,824.31 98,313.73 12,253.14 6,268.24
97,346.45 72,376.62 71,638.09 25,762.14 98,163.70 12,212.42 6,247.41
97,058.34 72,161.85 71,425.51 25,699.57 98,012.62 12,171.46 6,226.45
96,768.37 71,945.69 71,211.56 25,636.61 97,860.49 12,130.23 6,205.36
96,476.54 71,728.15 70,996.24 25,573.24 97,707.30 12,088.75 6,184.14
96,182.83 71,509.22 70,779.54 25,509.47 97,553.04 12,047.01 6,162.79
95,887.22 71,288.88 70,561.44 25,445.30 97,397.71 12,005.01 6,141.30
95,589.71 71,067.12 70,341.95 25,380.72 97,241.30 11,962.75 6,119.69
95,290.28 70,843.94 70,121.05 25,315.73 97,083.81 11,920.23 6,097.93
94,988.93 70,619.33 69,898.73 25,250.33 96,926.71 11,877.44 6,076.04
94,685.63 70,393.28 69,674.99 25,184.51 96,768.53 11,834.38 6,054.02
94,380.38 70,165.78 69,449.81 25,118.27 96,609.24 11,791.06 6,031.85
94,073.16 69,936.81 69,223.18 25,051.61 96,448.84 11,747.46 6,009.55
93,763.97 69,706.38 68,995.10 24,984.53 96,287.33 11,703.59 5,987.11
93,452.78 69,474.47 68,765.56 24,917.03 96,124.70 11,659.45 5,964.53
93,139.59 69,241.08 68,534.54 24,849.09 95,960.93 11,615.04 5,941.81
92,824.38 69,006.18 68,302.04 24,780.73 95,796.02 11,570.35 5,918.95
92,507.14 68,769.78 68,068.05 24,711.93 95,629.97 11,525.38 5,895.94
92,187.86 68,531.86 67,832.56 24,642.69 95,462.76 11,480.12 5,872.79
91,866.52 68,292.41 67,595.56 24,573.01 95,294.39 11,434.59 5,849.50
91,543.11 68,051.43 67,357.03 24,502.89 95,124.84 11,388.78 5,826.06
91,217.61 67,808.90 67,116.98 24,432.33 94,955.69 11,342.67 5,802.48
90,890.02 67,564.81 66,875.38 24,361.32 94,785.37 11,296.28 5,778.75
<CAPTION>
27 28 29 30 31 32 33
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS BOISE
CA IA IA IA IA ID ID
- ------------------------------------------------------------------------------------------------------------------------------------
1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31 2,012,010.19
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,360.82 18,091.73 9,497.68 8,538.95 8,926.33 7,226.34 11,461.37
7,343.74 18,049.77 9,475.65 8,519.14 8,905.63 7,209.58 11,434.79
7,326.57 18,007.55 9,453.48 8,499.21 8,884.79 7,192.72 11,408.04
7,309.28 17,965.06 9,431.18 8,479.16 8,863.83 7,175.75 11,381.13
7,291.89 17,922.31 9,408.73 8,458.98 8,842.74 7,158.67 11,354.04
7,274.38 17,879.29 9,386.15 8,438.68 8,821.51 7,141.49 11,326.79
7,256.77 17,836.00 9,363.42 8,418.25 8,800.16 7,124.20 11,299.37
7,239.05 17,792.45 9,340.56 8,397.69 8,778.67 7,106.80 11,271.77
7,221.22 17,748.62 9,317.55 8,377.00 8,757.04 7,089.30 11,244.01
7,203.28 17,704.52 9,294.40 8,356.19 8,735.28 7,071.68 11,216.07
7,185.22 17,660.14 9,271.10 8,335.24 8,713.39 7,053.96 11,187.96
7,167.05 17,615.49 9,247.66 8,314.17 8,691.36 7,036.12 11,159.67
7,148.77 17,570.56 9,224.07 8,292.96 8,669.19 7,018.17 11,131.20
7,130.38 17,525.35 9,200.34 8,271.62 8,646.88 7,000.11 11,102.56
7,111.87 17,479.86 9,176.46 8,250.15 8,624.44 6,981.94 11,073.74
7,093.24 17,434.08 9,152.42 8,228.55 8,601.85 6,963.66 11,044.74
7,074.50 17,388.02 9,128.24 8,206.81 8,579.12 6,945.26 11,015.56
7,055.65 17,341.67 9,103.91 8,184.93 8,556.26 6,926.75 10,986.20
7,036.67 17,295.03 9,079.43 8,162.92 8,533.24 6,908.12 10,956.65
7,017.58 17,248.10 9,054.79 8,140.77 8,510.09 6,889.38 10,926.92
6,998.37 17,200.88 9,030.00 8,118.48 8,486.79 6,870.51 10,897.01
6,979.03 17,153.37 9,005.06 8,096.06 8,463.35 6,851.53 10,866.91
6,959.58 17,105.56 8,979.96 8,073.49 8,439.76 6,832.44 10,836.62
6,940.01 17,057.45 8,954.70 8,050.78 8,416.02 6,813.22 10,806.14
6,920.31 17,009.04 8,929.29 8,027.93 8,392.14 6,793.89 10,775.47
6,900.49 16,960.33 8,903.72 8,004.94 8,368.10 6,774.43 10,744.61
6,880.55 16,911.31 8,877.98 7,981.81 8,343.92 6,754.85 10,713.56
6,860.48 16,861.99 8,852.09 7,958.53 8,319.59 6,735.15 10,682.31
6,840.29 16,812.36 8,826.04 7,935.11 8,295.10 6,715.33 10,650.87
6,819.97 16,762.43 8,799.82 7,911.54 8,270.46 6,695.38 10,619.24
6,799.53 16,712.18 8,773.45 7,887.82 8,245.67 6,675.31 10,587.41
6,778.96 16,661.62 8,746.90 7,863.96 8,220.72 6,655.12 10,555.37
6,758.26 16,610.74 8,720.19 7,839.95 8,195.62 6,634.79 10,523.14
6,737.43 16,559.55 8,693.32 7,815.78 8,170.36 6,614.35 10,490.71
6,716.47 16,508.03 8,666.27 7,791.47 8,144.94 6,593.77 10,458.08
6,695.38 16,456.20 8,639.06 7,767.01 8,119.37 6,573.07 10,425.24
6,674.16 16,404.04 8,611.68 7,742.39 8,093.64 6,552.23 10,392.20
6,652.81 16,351.56 8,584.13 7,717.62 8,067.74 6,531.27 10,358.95
6,631.32 16,298.75 8,556.41 7,692.69 8,041.69 6,510.18 10,325.49
6,609.70 16,245.61 8,528.51 7,667.61 8,015.47 6,488.95 10,291.83
6,587.95 16,192.14 8,500.44 7,642.38 7,989.09 6,467.59 10,257.96
6,566.06 16,138.34 8,472.20 7,616.98 7,962.54 6,446.10 10,223.87
6,544.03 16,084.20 8,443.77 7,591.43 7,935.83 6,424.48 10,189.57
6,521.87 16,029.73 8,415.18 7,565.72 7,908.95 6,402.72 10,155.06
6,499.56 15,974.91 8,386.40 7,539.85 7,881.91 6,380.83 10,120.34
6,477.12 15,919.75 8,357.44 7,513.81 7,854.69 6,358.79 10,085.39
6,454.54 15,864.25 8,328.31 7,487.62 7,827.31 6,336.63 10,050.23
6,431.82 15,808.40 8,298.99 7,461.26 7,799.75 6,314.32 10,014.85
6,408.96 15,752.21 8,269.49 7,434.74 7,772.03 6,291.87 9,979.25
6,385.95 15,695.66 8,239.80 7,408.05 7,744.13 6,269.29 9,943.43
6,362.80 15,638.77 8,209.93 7,381.19 7,716.05 6,246.56 9,907.38
6,339.51 15,581.51 8,179.88 7,354.17 7,687.81 6,223.69 9,871.11
6,316.07 15,523.91 8,149.63 7,326.98 7,659.38 6,200.68 9,834.62
6,292.48 15,465.94 8,119.20 7,299.62 7,630.78 6,177.53 9,797.89
6,268.75 15,407.61 8,088.58 7,272.09 7,602.00 6,154.23 9,760.94
6,244.87 15,348.91 8,057.77 7,244.39 7,573.04 6,130.79 9,723.76
6,220.84 15,289.85 8,026.76 7,216.51 7,543.90 6,107.20 9,686.34
6,196.66 15,230.43 7,995.57 7,188.47 7,514.58 6,083.46 9,648.70
6,172.33 15,170.63 7,964.17 7,160.24 7,485.08 6,059.57 9,610.81
6,147.85 15,110.46 7,932.59 7,131.84 7,455.39 6,035.54 9,572.69
6,123.22 15,049.91 7,900.80 7,103.27 7,425.52 6,011.36 9,534.34
6,098.43 14,988.99 7,868.82 7,074.51 7,395.46 5,987.02 9,495.74
6,073.49 14,927.69 7,836.64 7,045.58 7,365.21 5,962.54 9,456.91
<CAPTION>
34 35 36 37 38
-- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
IL IL LA MT OR
- -----------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- -----------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
9,201.62 9,319.21 4,558.08 5,443.59 9,637.69
9,180.28 9,297.60 4,547.50 5,430.97 9,615.33
9,158.80 9,275.85 4,536.87 5,418.26 9,592.84
9,137.19 9,253.96 4,526.16 5,405.48 9,570.21
9,115.45 9,231.94 4,515.39 5,392.62 9,547.43
9,093.57 9,209.78 4,504.55 5,379.67 9,524.52
9,071.55 9,187.48 4,493.65 5,366.65 9,501.46
9,049.40 9,165.05 4,482.67 5,353.54 9,478.25
9,027.11 9,142.47 4,471.63 5,340.36 9,454.91
9,004.68 9,119.75 4,460.52 5,327.09 9,431.41
8,982.11 9,096.90 4,449.34 5,313.73 9,407.77
8,959.40 9,073.89 4,438.09 5,300.30 9,383.99
8,936.54 9,050.75 4,426.77 5,286.78 9,360.05
8,913.55 9,027.46 4,415.38 5,273.18 9,335.97
8,890.41 9,004.03 4,403.92 5,259.49 9,311.73
8,867.13 8,980.45 4,392.38 5,245.71 9,287.35
8,843.70 8,956.72 4,380.78 5,231.85 9,262.81
8,820.13 8,932.85 4,369.10 5,217.91 9,238.12
8,796.41 8,908.82 4,357.35 5,203.88 9,213.27
8,772.54 8,884.65 4,345.53 5,189.76 9,188.27
8,748.52 8,860.33 4,333.63 5,175.55 9,163.12
8,724.36 8,835.85 4,321.66 5,161.25 9,137.81
8,700.04 8,811.22 4,309.62 5,146.86 9,112.34
8,675.57 8,786.44 4,297.49 5,132.39 9,086.71
8,650.95 8,761.50 4,285.30 5,117.82 9,060.92
8,626.17 8,736.41 4,273.03 5,103.17 9,034.97
8,601.24 8,711.17 4,260.68 5,088.42 9,008.86
8,576.16 8,685.76 4,248.25 5,073.58 8,982.59
8,550.92 8,660.20 4,235.75 5,058.65 8,956.15
8,525.52 8,634.47 4,223.17 5,043.62 8,929.55
8,499.96 8,608.59 4,210.51 5,028.50 8,902.78
8,474.25 8,582.55 4,197.77 5,013.29 8,875.85
8,448.37 8,556.34 4,184.95 4,997.98 8,848.74
8,422.33 8,529.97 4,172.05 4,982.58 8,821.47
8,396.13 8,503.43 4,159.07 4,967.08 8,794.03
8,369.77 8,476.73 4,146.01 4,951.48 8,766.42
8,343.24 8,449.87 4,132.87 4,935.79 8,738.63
8,316.55 8,422.83 4,119.65 4,920.00 8,710.67
8,289.69 8,395.63 4,106.35 4,904.11 8,682.54
8,262.66 8,368.26 4,092.96 4,888.12 8,654.24
8,235.47 8,340.71 4,079.49 4,872.03 8,625.75
8,208.10 8,313.00 4,065.93 4,855.84 8,597.09
8,180.57 8,285.11 4,052.29 4,839.55 8,568.25
8,152.86 8,257.05 4,038.57 4,823.16 8,539.23
8,124.98 8,228.82 4,024.76 4,806.67 8,510.03
8,096.93 8,200.40 4,010.86 4,790.07 8,480.65
8,068.70 8,171.82 3,996.88 4,773.37 8,451.08
8,040.30 8,143.05 3,982.81 4,756.57 8,421.33
8,011.71 8,114.10 3,968.65 4,739.66 8,391.39
7,982.96 8,084.97 3,954.40 4,722.64 8,361.27
7,954.02 8,055.67 3,940.07 4,705.52 8,330.96
7,924.90 8,026.17 3,925.64 4,688.30 8,300.46
7,895.60 7,996.50 3,911.13 4,670.96 8,269.77
7,866.11 7,966.64 3,896.53 4,653.52 8,238.89
7,836.45 7,936.59 3,881.83 4,635.97 8,207.82
7,806.59 7,906.36 3,867.04 4,618.31 8,176.55
7,776.56 7,875.94 3,852.16 4,600.54 8,145.09
7,746.33 7,845.33 3,837.19 4,582.66 8,113.43
7,715.92 7,814.52 3,822.12 4,564.67 8,081.58
7,685.31 7,783.53 3,806.97 4,546.56 8,049.53
7,654.52 7,752.34 3,791.71 4,528.35 8,017.27
7,623.53 7,720.96 3,776.36 4,510.01 7,984.82
7,592.36 7,689.38 3,760.92 4,491.57 7,952.16
</TABLE>
Page 8
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
18 19 20 21 24 25 26
-- -- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG- HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH VALLEJO
OR WA WA VA NY CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85
- ------------------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
90,560.32 67,319.16 66,632.24 24,289.85 94,613.85 11,249.60 5,754.87
90,228.50 67,071.94 66,387.53 24,217.94 94,441.15 11,202.63 5,730.84
89,894.54 66,823.12 66,141.26 24,145.56 94,267.24 11,155.37 5,706.66
89,558.42 66,572.71 65,893.40 24,072.73 94,046.09 11,107.81 5,682.33
89,220.14 66,320.69 65,643.96 23,999.43 93,823.40 11,059.96 5,657.85
88,879.69 66,067.06 65,392.91 23,925.67 93,599.16 11,011.81 5,633.22
88,537.04 65,811.80 65,140.25 23,851.44 93,373.36 10,963.36 5,608.43
88,192.18 65,554.90 64,885.98 23,776.74 93,145.98 10,914.60 5,583.49
87,845.10 65,296.35 64,630.07 23,701.56 92,917.03 10,865.54 5,558.40
87,495.78 65,036.14 64,372.51 23,625.91 92,686.48 10,816.18 5,533.14
87,144.22 64,774.26 64,113.31 23,549.78 92,455.98 10,766.51 5,507.73
86,790.39 64,510.71 63,852.44 23,473.16 92,223.88 10,716.53 5,482.16
86,434.28 64,245.46 63,589.90 23,396.06 91,990.17 10,666.23 5,456.44
86,075.88 63,978.51 63,325.67 23,318.46 91,754.82 10,615.63 5,430.55
85,715.17 63,709.84 63,059.75 23,240.38 91,517.84 10,564.71 5,404.50
85,352.13 63,439.45 62,792.12 23,161.80 91,279.21 10,513.47 5,378.29
84,986.76 63,167.33 62,522.78 23,082.72 91,038.92 10,461.91 5,351.91
84,619.03 62,893.46 62,251.70 23,003.13 90,796.96 10,410.03 5,325.37
84,248.93 62,617.84 61,978.89 22,923.05 90,553.32 10,357.82 5,298.67
83,876.45 62,340.44 61,704.32 22,842.45 90,307.97 10,305.30 5,271.79
83,501.57 62,061.27 61,428.00 22,761.34 90,060.93 10,252.44 5,244.76
83,124.28 61,780.30 61,149.90 22,679.72 89,812.16 10,199.25 5,217.55
82,744.56 61,497.53 60,870.02 22,597.58 89,563.40 10,145.74 5,190.17
82,362.38 61,212.95 60,588.34 22,514.91 89,312.91 10,091.89 5,162.62
81,977.75 60,926.54 60,304.85 22,431.72 89,060.67 10,037.70 5,134.90
81,590.64 60,638.29 60,019.54 22,348.01 88,806.68 9,983.18 5,107.01
81,201.04 60,348.20 59,732.41 22,263.76 88,550.92 9,928.31 5,078.94
80,808.92 60,056.24 59,443.43 22,178.98 88,293.39 9,873.11 5,050.70
80,414.28 59,762.41 59,152.60 22,093.65 88,034.06 9,817.56 5,022.29
80,017.10 59,466.69 58,859.90 22,007.79 87,772.92 9,761.66 4,993.69
79,617.36 59,169.08 58,565.32 21,921.38 87,509.97 9,705.41 4,964.92
79,215.05 58,869.55 58,268.85 21,834.43 87,245.19 9,648.82 4,935.97
78,810.14 58,568.10 57,970.48 21,746.92 86,978.57 9,591.87 4,906.83
78,402.63 58,264.72 57,670.20 21,658.85 86,710.09 9,534.57 4,877.52
77,992.49 57,959.40 57,367.99 21,570.23 86,441.57 9,476.91 4,848.02
77,579.70 57,652.11 57,063.83 21,481.04 86,171.18 9,418.89 4,818.34
77,164.26 57,342.85 56,757.73 21,391.29 85,898.90 9,360.51 4,788.48
76,746.15 57,031.61 56,449.67 21,300.96 85,624.74 9,301.76 4,758.42
76,325.33 56,718.37 56,139.62 21,210.07 85,348.66 9,242.65 4,728.19
75,901.81 56,403.12 55,827.59 21,118.59 85,070.66 9,183.17 4,697.76
75,475.56 56,085.85 55,513.56 21,026.54 84,790.73 9,123.32 4,667.14
75,046.57 55,766.54 55,197.51 20,933.90 84,508.86 9,063.10 4,636.33
74,614.81 55,445.18 54,879.43 20,840.67 84,225.02 9,002.50 4,605.33
74,180.27 55,121.76 54,559.31 20,746.85 83,939.20 8,941.52 4,574.14
73,742.93 54,796.27 54,237.14 20,652.44 83,651.40 8,880.16 4,542.75
73,302.77 54,468.69 53,912.90 20,557.42 83,361.59 8,818.42 4,511.17
72,859.78 54,139.00 53,586.57 20,461.80 83,071.68 8,756.30 4,479.39
72,413.94 53,807.20 53,258.16 20,365.58 82,779.76 8,693.79 4,447.41
71,965.22 53,473.27 52,927.64 20,268.74 82,485.80 8,630.89 4,415.23
71,513.61 53,137.20 52,595.00 20,171.29 82,189.80 8,567.59 4,382.85
71,059.10 52,798.97 52,260.22 20,073.22 81,891.74 8,503.90 4,350.27
70,601.65 52,458.57 51,923.29 19,974.53 81,591.60 8,439.82 4,317.49
70,141.26 52,115.99 51,584.21 19,875.21 81,289.38 8,375.34 4,284.50
69,677.90 51,771.21 51,242.94 19,775.26 80,985.05 8,310.45 4,251.31
69,211.56 51,424.21 50,899.49 19,674.67 80,678.61 8,245.16 4,217.91
68,742.22 51,074.99 50,553.83 19,573.45 80,370.03 8,179.46 4,184.30
68,269.85 50,723.53 50,205.96 19,471.58 80,059.31 8,113.35 4,150.48
67,794.43 50,369.82 49,855.85 19,369.07 79,746.42 8,046.83 4,116.45
67,315.96 50,013.83 49,503.50 19,265.90 79,433.37 7,979.90 4,082.21
66,834.40 49,655.56 49,148.88 19,162.08 79,118.14 7,912.55 4,047.76
66,349.74 49,294.99 48,791.99 19,057.61 78,800.71 7,844.78 4,013.09
65,861.96 48,932.11 48,432.81 18,952.46 78,481.08 7,776.59 3,978.20
65,371.04 48,566.90 48,071.33 18,846.65 78,159.22 7,707.97 3,943.10
<CAPTION>
27 28 29 30 31 32 33
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS BOISE
CA IA IA IA IA ID ID
- ------------------------------------------------------------------------------------------------------------------------------------
1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31 2,012,010.19
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
6,048.39 14,866.00 7,804.25 7,016.46 7,334.78 5,937.90 9,417.83
6,023.14 14,803.93 7,771.67 6,987.17 7,304.15 5,913.11 9,378.51
5,997.73 14,741.48 7,738.88 6,957.69 7,273.34 5,888.16 9,338.94
5,972.16 14,678.63 7,705.89 6,928.03 7,242.33 5,863.06 9,299.12
5,946.43 14,615.39 7,672.69 6,898.18 7,211.13 5,837.80 9,259.06
5,920.54 14,551.76 7,639.28 6,868.15 7,179.74 5,812.38 9,218.75
5,894.49 14,487.73 7,605.67 6,837.93 7,148.14 5,786.81 9,178.19
5,868.28 14,423.31 7,571.85 6,807.52 7,116.36 5,761.07 9,137.37
5,841.90 14,358.48 7,537.82 6,776.92 7,084.37 5,735.18 9,096.30
5,815.36 14,293.25 7,503.57 6,746.13 7,052.18 5,709.12 9,054.98
5,788.66 14,227.61 7,469.11 6,715.15 7,019.80 5,682.90 9,013.39
5,761.78 14,161.56 7,434.44 6,683.98 6,987.21 5,656.52 8,971.55
5,734.74 14,095.10 7,399.55 6,652.61 6,954.42 5,629.98 8,929.45
5,707.53 14,028.22 7,364.44 6,621.05 6,921.42 5,603.26 8,887.08
5,680.16 13,960.93 7,329.11 6,589.29 6,888.22 5,576.39 8,844.45
5,652.61 13,893.22 7,293.57 6,557.33 6,854.81 5,549.34 8,801.56
5,624.89 13,825.09 7,257.80 6,525.17 6,821.20 5,522.13 8,758.39
5,596.99 13,756.53 7,221.81 6,492.81 6,787.37 5,494.74 8,714.96
5,568.93 13,687.54 7,185.59 6,460.25 6,753.34 5,467.19 8,671.26
5,540.68 13,618.13 7,149.15 6,427.49 6,719.09 5,439.46 8,627.28
5,512.26 13,548.28 7,112.48 6,394.53 6,684.62 5,411.56 8,583.03
5,483.67 13,478.00 7,075.59 6,361.35 6,649.95 5,383.49 8,538.51
5,454.90 13,407.28 7,038.46 6,327.97 6,615.05 5,355.24 8,493.70
5,425.94 13,336.12 7,001.10 6,294.39 6,579.94 5,326.82 8,448.62
5,396.81 13,264.51 6,963.51 6,260.59 6,544.61 5,298.22 8,403.26
5,367.49 13,192.46 6,925.69 6,226.58 6,509.06 5,269.44 8,357.61
5,338.00 13,119.96 6,887.63 6,192.36 6,473.29 5,240.48 8,311.68
5,308.31 13,047.00 6,849.33 6,157.93 6,437.30 5,211.34 8,265.46
5,278.45 12,973.60 6,810.79 6,123.28 6,401.08 5,182.02 8,218.96
5,248.39 12,899.73 6,772.01 6,088.42 6,364.63 5,152.51 8,172.17
5,218.15 12,825.40 6,732.99 6,053.34 6,327.96 5,122.83 8,125.08
5,187.73 12,750.62 6,693.73 6,018.04 6,291.06 5,092.95 8,077.70
5,157.11 12,675.36 6,654.22 5,982.52 6,253.93 5,062.89 8,030.02
5,126.30 12,599.64 6,614.47 5,946.78 6,216.57 5,032.65 7,982.05
5,095.30 12,523.44 6,574.47 5,910.82 6,178.97 5,002.21 7,933.78
5,064.10 12,446.77 6,534.22 5,874.63 6,141.15 4,971.59 7,885.21
5,032.71 12,369.62 6,493.72 5,838.22 6,103.08 4,940.77 7,836.33
5,001.13 12,291.99 6,452.96 5,801.58 6,064.78 4,909.76 7,787.15
4,969.35 12,213.87 6,411.96 5,764.71 6,026.24 4,878.56 7,737.67
4,937.37 12,135.27 6,370.69 5,727.61 5,987.46 4,847.17 7,687.87
4,905.19 12,056.18 6,329.17 5,690.28 5,948.43 4,815.58 7,637.77
4,872.81 11,976.60 6,287.39 5,652.72 5,909.17 4,783.79 7,587.35
4,840.23 11,896.52 6,245.35 5,614.93 5,869.66 4,751.80 7,536.62
4,807.44 11,815.94 6,203.05 5,576.89 5,829.90 4,719.62 7,485.57
4,774.45 11,734.86 6,160.49 5,538.63 5,789.89 4,687.23 7,434.20
4,741.26 11,653.27 6,117.66 5,500.12 5,749.64 4,654.64 7,382.52
4,707.86 11,571.18 6,074.56 5,461.37 5,709.14 4,621.85 7,330.51
4,674.25 11,488.57 6,031.19 5,422.38 5,668.38 4,588.86 7,278.17
4,640.43 11,405.45 5,987.55 5,383.15 5,627.37 4,555.65 7,225.52
4,606.40 11,321.81 5,943.65 5,343.67 5,586.10 4,522.25 7,172.53
4,572.16 11,237.65 5,899.46 5,303.95 5,544.57 4,488.63 7,119.21
4,537.70 11,152.96 5,855.00 5,263.98 5,502.79 4,454.80 7,065.56
4,503.03 11,067.75 5,810.27 5,223.76 5,460.75 4,420.77 7,011.58
4,468.15 10,982.00 5,765.26 5,183.29 5,418.44 4,386.52 6,957.26
4,433.04 10,895.72 5,719.96 5,142.57 5,375.87 4,352.06 6,902.60
4,397.72 10,808.90 5,674.38 5,101.59 5,333.04 4,317.38 6,847.60
4,362.18 10,721.55 5,628.52 5,060.36 5,289.93 4,282.49 6,792.25
4,326.41 10,633.64 5,582.38 5,018.87 5,246.56 4,247.37 6,736.57
4,290.42 10,545.19 5,535.94 4,977.13 5,202.92 4,212.04 6,680.53
4,254.21 10,456.19 5,489.22 4,935.12 5,159.01 4,176.49 6,624.15
4,217.78 10,366.63 5,442.20 4,892.85 5,114.82 4,140.72 6,567.41
4,181.11 10,276.52 5,394.90 4,850.32 5,070.36 4,104.73 6,510.32
4,144.22 10,185.84 5,347.29 4,807.52 5,025.62 4,068.51 6,452.88
<CAPTION>
34 35 36 37 38
-- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
IL IL LA MT OR
- -----------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- -----------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
7,560.98 7,657.61 3,745.38 4,473.01 7,919.30
7,529.41 7,625.64 3,729.74 4,454.33 7,886.24
7,497.65 7,593.46 3,714.00 4,435.54 7,852.96
7,465.68 7,561.09 3,698.17 4,416.63 7,819.49
7,433.52 7,528.52 3,682.24 4,397.60 7,785.80
7,401.16 7,495.74 3,666.21 4,378.46 7,751.90
7,368.59 7,462.76 3,650.07 4,359.19 7,717.79
7,335.82 7,429.57 3,633.84 4,339.81 7,683.47
7,302.85 7,396.18 3,617.51 4,320.30 7,648.94
7,269.67 7,362.58 3,601.07 4,300.67 7,614.19
7,236.29 7,328.76 3,584.54 4,280.92 7,579.22
7,202.69 7,294.74 3,567.90 4,261.05 7,544.03
7,168.89 7,260.51 3,551.15 4,241.05 7,508.63
7,134.88 7,226.06 3,534.30 4,220.93 7,473.00
7,100.65 7,191.40 3,517.35 4,200.68 7,437.16
7,066.22 7,156.52 3,500.29 4,180.31 7,401.09
7,031.56 7,121.42 3,483.13 4,159.81 7,364.79
6,996.69 7,086.11 3,465.85 4,139.18 7,328.27
6,961.61 7,050.57 3,448.47 4,118.42 7,291.52
6,926.30 7,014.82 3,430.98 4,097.54 7,254.54
6,890.78 6,978.84 3,413.39 4,076.52 7,217.33
6,855.03 6,942.64 3,395.68 4,055.37 7,179.89
6,819.06 6,906.21 3,377.86 4,034.10 7,142.22
6,782.87 6,869.55 3,359.93 4,012.68 7,104.31
6,746.45 6,832.67 3,341.89 3,991.14 7,066.17
6,709.80 6,795.55 3,323.74 3,969.46 7,027.78
6,672.93 6,758.20 3,305.47 3,947.64 6,989.16
6,635.82 6,720.63 3,287.09 3,925.69 6,950.30
6,598.49 6,682.81 3,268.60 3,903.61 6,911.19
6,560.92 6,644.76 3,249.99 3,881.38 6,871.84
6,523.12 6,606.48 3,231.26 3,859.02 6,832.25
6,485.08 6,567.95 3,212.42 3,836.51 6,792.41
6,446.80 6,529.19 3,193.46 3,813.87 6,752.32
6,408.29 6,490.18 3,174.38 3,791.09 6,711.98
6,369.53 6,450.93 3,155.19 3,768.16 6,671.39
6,330.54 6,411.44 3,135.87 3,745.09 6,630.54
6,291.30 6,371.70 3,116.43 3,721.88 6,589.45
6,251.82 6,331.71 3,096.87 3,698.52 6,548.09
6,212.09 6,291.47 3,077.19 3,675.01 6,506.48
6,172.11 6,250.99 3,057.39 3,651.36 6,464.61
6,131.88 6,210.25 3,037.46 3,627.57 6,422.48
6,091.41 6,169.25 3,017.41 3,603.62 6,380.08
6,050.68 6,128.00 2,997.24 3,579.53 6,337.42
6,009.69 6,086.49 2,976.94 3,555.28 6,294.49
5,968.45 6,044.73 2,956.51 3,530.88 6,251.30
5,926.96 6,002.70 2,935.95 3,506.34 6,207.84
5,885.20 5,960.41 2,915.27 3,481.63 6,164.11
5,843.19 5,917.86 2,894.46 3,456.78 6,120.10
5,800.91 5,875.05 2,873.52 3,431.77 6,075.82
5,758.37 5,831.96 2,852.44 3,406.60 6,031.26
5,715.57 5,788.61 2,831.24 3,381.28 5,986.43
5,672.49 5,744.99 2,809.90 3,355.80 5,941.32
5,629.15 5,701.09 2,788.43 3,330.16 5,895.92
5,585.54 5,656.93 2,766.83 3,304.36 5,850.25
5,541.66 5,612.48 2,745.09 3,278.40 5,804.28
5,497.50 5,567.76 2,723.22 3,252.27 5,758.03
5,453.07 5,522.76 2,701.21 3,225.99 5,711.50
5,408.37 5,477.48 2,679.07 3,199.54 5,664.67
5,363.38 5,431.92 2,656.78 3,172.93 5,617.55
5,318.11 5,386.07 2,634.36 3,146.15 5,570.14
5,272.56 5,339.94 2,611.79 3,119.20 5,522.43
5,226.73 5,293.52 2,589.09 3,092.09 5,474.43
5,180.61 5,246.82 2,566.24 3,064.80 5,426.12
</TABLE>
Page 9
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
18 19 20 21 24 25 26
-- -- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG- HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH VALLEJO
OR WA WA VA NY CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85
- ------------------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
64,876.95 48,199.34 47,707.52 18,740.17 77,786.67 7,638.92 3,907.78
64,379.69 47,829.43 47,341.39 18,633.01 77,411.53 7,569.44 3,872.24
63,879.22 47,457.14 46,972.90 18,525.18 77,033.77 7,499.53 3,836.47
63,375.52 47,082.46 46,602.05 18,416.65 76,653.39 7,429.19 3,800.49
62,868.58 46,705.38 46,228.81 18,307.44 76,270.36 7,358.41 3,764.28
62,358.38 46,325.89 45,853.19 18,197.53 75,884.66 7,287.18 3,727.84
61,844.88 45,943.95 45,475.15 18,086.93 75,496.28 7,215.51 3,691.18
61,328.08 45,559.57 45,094.69 17,975.63 75,107.31 7,143.40 3,654.29
60,807.96 45,172.71 44,711.78 17,863.61 74,715.63 7,070.83 3,617.17
60,284.48 44,783.38 44,326.42 17,750.89 74,321.23 6,997.81 3,579.81
59,757.63 44,391.55 43,938.59 17,637.45 73,924.08 6,924.34 3,542.23
59,227.38 43,997.20 43,548.26 17,523.29 73,524.17 6,850.41 3,504.41
58,693.72 43,600.32 43,155.44 17,408.40 73,121.47 6,776.02 3,466.35
58,156.62 43,200.90 42,760.09 17,292.79 72,715.98 6,701.16 3,428.06
57,616.06 42,798.91 42,362.20 17,176.44 72,307.66 6,625.84 3,389.53
57,072.02 42,394.35 41,961.77 17,059.35 71,896.50 6,550.05 3,350.75
56,524.48 41,987.18 41,558.76 16,941.52 71,482.48 6,473.78 3,311.74
55,973.41 41,577.41 41,153.17 16,822.94 71,065.58 6,397.05 3,272.48
55,418.78 41,165.01 40,744.97 16,703.61 70,645.78 6,319.83 3,232.98
54,860.59 40,749.96 40,334.16 16,583.52 70,225.27 6,242.13 3,193.23
54,298.80 40,332.24 39,920.70 16,462.67 69,801.84 6,163.95 3,153.24
53,733.39 39,911.85 39,504.60 16,341.05 69,375.46 6,085.28 3,112.99
53,164.34 39,488.76 39,085.83 16,218.66 68,946.12 6,006.11 3,072.50
52,591.62 39,062.95 38,664.37 16,095.49 68,513.79 5,926.46 3,031.75
52,015.22 38,634.41 38,240.20 15,971.53 68,078.44 5,846.31 2,990.75
51,435.10 38,203.12 37,813.31 15,846.80 67,640.07 5,765.66 2,949.49
50,851.24 37,769.07 37,383.69 15,721.26 67,198.65 5,684.51 2,907.97
50,263.63 37,332.23 36,951.30 15,594.94 66,754.16 5,602.85 2,866.20
49,672.22 36,892.58 36,516.15 15,467.81 66,306.58 5,520.68 2,824.17
49,077.01 36,450.12 36,078.20 15,339.87 65,855.88 5,438.00 2,781.87
48,477.97 36,004.81 35,637.44 15,211.12 65,402.04 5,354.80 2,739.31
47,875.06 35,556.65 35,193.85 15,081.55 64,947.38 5,271.09 2,696.49
47,268.27 35,105.62 34,747.41 14,951.16 64,489.55 5,186.85 2,653.39
46,657.58 34,651.68 34,298.11 14,819.94 64,028.53 5,102.09 2,610.03
46,042.94 34,194.84 33,845.93 14,687.89 63,564.31 5,016.80 2,566.40
45,424.35 33,735.06 33,390.85 14,555.00 63,096.85 4,930.98 2,522.50
44,801.78 33,272.34 32,932.84 14,421.27 62,626.15 4,844.62 2,478.32
44,175.19 32,806.64 32,471.90 14,286.69 62,152.17 4,757.73 2,433.87
43,544.57 32,337.96 32,008.00 14,151.25 61,674.89 4,670.29 2,389.14
42,909.89 31,866.27 31,541.12 14,014.95 61,194.29 4,582.31 2,344.14
42,271.12 31,391.55 31,071.25 13,877.79 60,710.34 4,493.78 2,298.85
41,628.23 30,913.79 30,598.36 13,739.76 60,223.03 4,404.70 2,253.28
40,981.20 30,432.96 30,122.44 13,600.84 59,732.33 4,315.07 2,207.42
40,330.00 29,949.05 29,643.46 13,461.05 59,240.65 4,224.87 2,161.28
39,674.61 29,462.03 29,161.41 13,320.37 58,745.56 4,134.11 2,114.85
39,015.00 28,971.88 28,676.27 13,178.80 58,247.02 4,042.79 2,068.14
38,351.14 28,478.59 28,188.02 13,036.33 57,745.01 3,950.90 2,021.13
37,683.00 27,982.14 27,696.63 12,892.95 57,239.51 3,858.43 1,973.83
37,010.56 27,482.50 27,202.08 12,748.66 56,730.49 3,765.39 1,926.23
36,333.78 26,979.65 26,704.37 12,603.46 56,217.93 3,671.77 1,878.34
35,652.65 26,473.58 26,203.46 12,457.33 55,701.80 3,577.56 1,830.14
34,967.13 25,964.26 25,699.34 12,310.28 55,182.08 3,482.77 1,781.65
34,277.19 25,451.67 25,191.98 12,162.29 54,658.74 3,387.39 1,732.86
33,582.81 24,935.79 24,681.37 12,013.36 54,131.77 3,291.41 1,683.76
32,883.95 24,416.60 24,167.48 11,863.49 53,601.12 3,194.83 1,634.35
32,180.60 23,894.08 23,650.29 11,712.66 53,069.35 3,097.66 1,584.64
31,472.71 23,368.21 23,129.78 11,560.88 52,533.88 2,999.87 1,534.62
30,760.26 22,838.97 22,605.94 11,408.14 51,994.68 2,901.48 1,484.29
30,043.23 22,306.32 22,078.73 11,254.42 51,451.74 2,802.47 1,433.64
29,321.57 21,770.26 21,548.14 11,099.73 50,905.01 2,702.85 1,382.67
28,595.27 21,230.76 21,014.15 10,944.05 50,303.45 2,602.60 1,331.39
27,864.29 20,687.80 20,476.73 10,787.39 49,697.71 2,501.74 1,279.79
27,128.59 20,141.36 19,935.86 10,629.73 49,087.75 2,400.24 1,227.87
<CAPTION>
27 28 29 30 31 32 33
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS BOISE
CA IA IA IA IA ID ID
- ------------------------------------------------------------------------------------------------------------------------------------
1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31 2,012,010.19
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,107.10 10,094.60 5,299.39 4,764.45 4,980.60 4,032.06 6,395.07
4,069.74 10,002.79 5,251.19 4,721.12 4,935.30 3,995.39 6,336.91
4,032.15 9,910.40 5,202.70 4,677.52 4,889.72 3,958.49 6,278.38
3,994.33 9,817.44 5,153.89 4,633.64 4,843.86 3,921.36 6,219.49
3,956.28 9,723.90 5,104.79 4,589.49 4,797.70 3,884.00 6,160.23
3,917.98 9,629.78 5,055.38 4,545.07 4,751.27 3,846.40 6,100.61
3,879.45 9,535.07 5,005.66 4,500.37 4,704.54 3,808.58 6,040.61
3,840.67 9,439.78 4,955.63 4,455.39 4,657.52 3,770.51 5,980.23
3,801.66 9,343.88 4,905.29 4,410.13 4,610.20 3,732.21 5,919.48
3,762.40 9,247.39 4,854.63 4,364.59 4,562.60 3,693.67 5,858.36
3,722.90 9,150.30 4,803.66 4,318.76 4,514.69 3,654.89 5,796.85
3,683.15 9,052.60 4,752.37 4,272.65 4,466.49 3,615.86 5,734.95
3,643.15 8,954.30 4,700.77 4,226.25 4,417.99 3,576.60 5,672.68
3,602.91 8,855.38 4,648.84 4,179.57 4,369.18 3,537.09 5,610.01
3,562.41 8,755.84 4,596.58 4,132.59 4,320.07 3,497.33 5,546.95
3,521.66 8,655.69 4,544.00 4,085.32 4,270.65 3,457.32 5,483.50
3,480.66 8,554.91 4,491.10 4,037.75 4,220.93 3,417.07 5,419.66
3,439.40 8,453.50 4,437.86 3,989.89 4,170.89 3,376.56 5,355.41
3,397.88 8,351.46 4,384.29 3,941.72 4,120.55 3,335.81 5,290.77
3,356.11 8,248.78 4,330.39 3,893.26 4,069.89 3,294.79 5,225.72
3,314.07 8,145.46 4,276.15 3,844.50 4,018.91 3,253.53 5,160.27
3,271.77 8,041.50 4,221.57 3,795.43 3,967.62 3,212.00 5,094.41
3,229.21 7,936.89 4,166.66 3,746.06 3,916.01 3,170.22 5,028.14
3,186.38 7,831.63 4,111.40 3,696.38 3,864.07 3,128.17 4,961.45
3,143.29 7,725.72 4,055.79 3,646.39 3,811.81 3,085.87 4,894.35
3,099.93 7,619.14 3,999.84 3,596.09 3,759.23 3,043.30 4,826.83
3,056.30 7,511.90 3,943.54 3,545.47 3,706.32 3,000.46 4,758.90
3,012.39 7,403.99 3,886.89 3,494.54 3,653.07 2,957.36 4,690.53
2,968.21 7,295.40 3,829.89 3,443.29 3,599.50 2,913.99 4,621.74
2,923.76 7,186.15 3,772.53 3,391.72 3,545.59 2,870.35 4,552.53
2,879.03 7,076.20 3,714.82 3,339.83 3,491.35 2,826.43 4,482.88
2,834.02 6,965.58 3,656.74 3,287.62 3,436.77 2,782.25 4,412.79
2,788.73 6,854.26 3,598.30 3,235.08 3,381.84 2,737.78 4,342.28
2,743.16 6,742.25 3,539.50 3,182.21 3,326.58 2,693.05 4,271.32
2,697.30 6,629.55 3,480.33 3,129.02 3,270.97 2,648.03 4,199.91
2,651.16 6,516.14 3,420.80 3,075.49 3,215.02 2,602.73 4,128.07
2,604.73 6,402.02 3,360.89 3,021.63 3,158.71 2,557.15 4,055.77
2,558.01 6,287.19 3,300.61 2,967.43 3,102.06 2,511.28 3,983.03
2,511.00 6,171.65 3,239.95 2,912.90 3,045.05 2,465.13 3,909.83
2,463.70 6,055.38 3,178.91 2,858.02 2,987.68 2,418.69 3,836.17
2,416.10 5,938.40 3,117.50 2,802.81 2,929.96 2,371.96 3,762.06
2,368.21 5,820.68 3,055.70 2,747.25 2,871.88 2,324.94 3,687.48
2,320.01 5,702.23 2,993.52 2,691.34 2,813.44 2,277.63 3,612.44
2,271.52 5,583.04 2,930.94 2,635.08 2,754.63 2,230.02 3,536.93
2,222.72 5,463.10 2,867.98 2,578.48 2,695.46 2,182.12 3,460.95
2,173.62 5,342.42 2,804.63 2,521.52 2,635.91 2,133.91 3,384.50
2,124.22 5,220.99 2,740.88 2,464.21 2,576.00 2,085.41 3,307.57
2,074.50 5,098.80 2,676.73 2,406.53 2,515.71 2,036.60 3,230.16
2,024.48 4,975.85 2,612.19 2,348.50 2,455.05 1,987.49 3,152.27
1,974.14 4,852.13 2,547.24 2,290.11 2,394.01 1,938.08 3,073.89
1,923.49 4,727.64 2,481.88 2,231.35 2,332.58 1,888.35 2,995.03
1,872.53 4,602.37 2,416.12 2,172.23 2,270.78 1,838.32 2,915.67
1,821.24 4,476.33 2,349.95 2,112.74 2,208.59 1,787.97 2,835.82
1,769.64 4,349.50 2,283.37 2,052.88 2,146.01 1,737.31 2,755.47
1,717.72 4,221.87 2,216.37 1,992.64 2,083.04 1,686.34 2,674.62
1,665.47 4,093.46 2,148.96 1,932.03 2,019.68 1,635.04 2,593.26
1,612.89 3,964.24 2,081.12 1,871.04 1,955.93 1,583.43 2,511.40
1,559.99 3,834.22 2,012.86 1,809.68 1,891.77 1,531.49 2,429.03
1,506.76 3,703.38 1,944.18 1,747.92 1,827.22 1,479.23 2,346.15
1,453.20 3,571.73 1,875.06 1,685.79 1,762.27 1,426.65 2,262.74
1,399.30 3,439.26 1,805.52 1,623.26 1,696.91 1,373.74 2,178.82
1,345.07 3,305.97 1,735.54 1,560.35 1,631.14 1,320.50 2,094.38
1,290.50 3,171.84 1,665.13 1,497.05 1,564.96 1,266.92 2,009.41
<CAPTION>
34 35 36 37 38
-- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
IL IL LA MT OR
- -----------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- -----------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
5,134.20 5,199.82 2,543.26 3,037.35 5,377.51
5,087.51 5,152.52 2,520.13 3,009.72 5,328.61
5,040.52 5,104.94 2,496.85 2,981.93 5,279.39
4,993.24 5,057.05 2,473.43 2,953.96 5,229.87
4,945.66 5,008.87 2,449.86 2,925.81 5,180.04
4,897.79 4,960.39 2,426.15 2,897.49 5,129.90
4,849.62 4,911.60 2,402.29 2,868.99 5,079.45
4,801.15 4,862.51 2,378.28 2,840.32 5,028.68
4,752.38 4,813.12 2,354.12 2,811.47 4,977.60
4,703.31 4,763.41 2,329.81 2,782.43 4,926.20
4,653.92 4,713.40 2,305.35 2,753.22 4,874.48
4,604.23 4,663.08 2,280.73 2,723.82 4,822.43
4,554.24 4,612.44 2,255.97 2,694.24 4,770.06
4,503.92 4,561.48 2,231.05 2,664.48 4,717.37
4,453.30 4,510.21 2,205.97 2,634.53 4,664.34
4,402.36 4,458.62 2,180.73 2,604.40 4,610.99
4,351.10 4,406.71 2,155.34 2,574.07 4,557.30
4,299.52 4,354.47 2,129.79 2,543.56 4,503.28
4,247.63 4,301.91 2,104.09 2,512.86 4,448.92
4,195.40 4,249.02 2,078.22 2,481.96 4,394.23
4,142.86 4,195.80 2,052.19 2,450.88 4,339.19
4,089.98 4,142.25 2,026.00 2,419.60 4,283.81
4,036.77 4,088.36 1,999.64 2,388.12 4,228.08
3,983.24 4,034.14 1,973.12 2,356.45 4,172.01
3,929.37 3,979.58 1,946.44 2,324.58 4,115.58
3,875.16 3,924.69 1,919.58 2,292.51 4,058.81
3,820.62 3,869.44 1,892.57 2,260.24 4,001.68
3,765.73 3,813.86 1,865.38 2,227.77 3,944.19
3,710.51 3,757.93 1,838.02 2,195.10 3,886.35
3,654.94 3,701.65 1,810.49 2,162.23 3,828.15
3,599.02 3,645.02 1,782.80 2,129.15 3,769.58
3,542.76 3,588.03 1,754.92 2,095.86 3,710.65
3,486.14 3,530.69 1,726.88 2,062.37 3,651.35
3,429.17 3,472.99 1,698.66 2,028.67 3,591.68
3,371.85 3,414.94 1,670.26 1,994.75 3,531.64
3,314.17 3,356.52 1,641.69 1,960.63 3,471.23
3,256.12 3,297.74 1,612.94 1,926.29 3,410.43
3,197.72 3,238.59 1,584.01 1,891.74 3,349.26
3,138.96 3,179.07 1,554.90 1,856.98 3,287.71
3,079.82 3,119.18 1,525.61 1,822.00 3,225.78
3,020.32 3,058.92 1,496.13 1,786.79 3,163.46
2,960.45 2,998.28 1,466.48 1,751.37 3,100.75
2,900.20 2,937.27 1,436.63 1,715.73 3,037.64
2,839.58 2,875.87 1,406.60 1,679.87 2,974.15
2,778.58 2,814.09 1,376.39 1,643.78 2,910.26
2,717.20 2,751.93 1,345.98 1,607.47 2,845.97
2,655.44 2,689.38 1,315.39 1,570.94 2,781.28
2,593.29 2,626.44 1,284.60 1,534.17 2,716.19
2,530.76 2,563.10 1,253.63 1,497.17 2,650.69
2,467.84 2,499.37 1,222.46 1,459.95 2,584.79
2,404.52 2,435.25 1,191.09 1,422.49 2,518.47
2,340.81 2,370.72 1,159.53 1,384.80 2,451.74
2,276.70 2,305.80 1,127.78 1,346.88 2,384.59
2,212.19 2,240.46 1,095.82 1,308.71 2,317.03
2,147.28 2,174.72 1,063.67 1,270.31 2,249.04
2,081.97 2,108.58 1,031.32 1,231.67 2,180.63
2,016.25 2,042.01 998.76 1,192.79 2,111.80
1,950.12 1,975.04 966.00 1,153.67 2,042.53
1,883.57 1,907.64 933.04 1,114.30 1,972.84
1,816.61 1,839.83 899.87 1,074.69 1,902.70
1,749.24 1,771.59 866.50 1,034.83 1,832.14
1,681.44 1,702.93 832.91 994.73 1,761.13
1,613.23 1,633.84 799.12 954.37 1,689.68
</TABLE>
Page 10
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
18 19 20 21 24 25 26
-- -- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG- HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH VALLEJO
OR WA WA VA NY CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85
- ------------------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
26,388.16 19,591.40 19,391.52 10,471.07 48,473.54 2,298.11 1,175.62
25,642.96 19,037.92 18,843.68 10,311.41 47,855.07 2,195.34 1,123.05
24,892.96 18,480.89 18,292.33 10,150.72 47,232.29 2,091.93 1,070.15
24,138.13 17,920.28 17,737.45 9,989.02 46,605.17 1,987.88 1,016.92
23,378.44 17,356.08 17,179.00 9,826.30 45,976.39 1,883.18 963.36
22,613.85 16,788.26 16,616.97 9,662.54 45,343.23 1,777.82 909.47
21,844.34 16,216.79 16,051.34 9,497.73 44,705.66 1,671.81 855.23
21,069.87 15,641.65 15,482.07 9,331.89 44,063.66 1,565.14 800.67
20,290.41 15,062.83 14,909.15 9,164.99 43,417.20 1,457.80 745.76
19,505.93 14,480.29 14,332.56 8,997.03 42,766.23 1,349.80 690.50
18,716.40 13,894.01 13,752.26 8,828.00 42,110.73 1,241.12 634.91
17,921.78 13,303.97 13,168.24 8,657.90 41,450.68 1,131.76 578.97
17,122.04 12,710.15 12,580.48 8,486.72 40,786.02 1,021.72 522.68
16,317.15 12,112.51 11,988.94 8,314.45 40,116.75 911.00 466.03
15,507.08 11,511.04 11,393.61 8,141.09 39,442.82 799.59 409.04
14,691.79 10,905.71 10,794.46 7,966.63 38,764.20 687.48 351.69
13,871.24 10,296.50 10,191.46 7,791.06 38,083.68 574.67 293.98
13,045.41 9,683.37 9,584.59 7,614.37 37,398.43 461.16 235.91
12,214.26 9,066.32 8,973.83 7,436.57 36,708.41 346.94 177.48
11,377.76 8,445.30 8,359.15 7,257.63 36,013.59 232.01 118.69
10,535.87 7,820.30 7,740.53 7,077.56 35,313.94 116.37 59.53
9,688.55 7,191.29 7,117.93 6,896.34 34,609.42 0.00 0.00
8,835.78 6,558.24 6,491.35 6,713.98 33,899.99 0.00 0.00
7,977.51 5,921.13 5,860.74 6,530.45 33,185.63 0.00 0.00
7,113.72 5,279.93 5,226.08 6,345.76 32,466.30 0.00 0.00
6,244.36 4,634.62 4,587.35 6,159.90 31,741.96 0.00 0.00
5,369.40 3,985.16 3,944.53 5,972.86 31,012.59 0.00 0.00
4,488.80 3,331.54 3,297.58 5,784.63 30,278.13 0.00 0.00
3,602.53 2,673.73 2,646.47 5,595.20 29,541.54 0.00 0.00
2,710.56 2,011.69 1,991.19 5,404.58 28,799.82 0.00 0.00
1,812.83 1,345.41 1,331.71 5,212.74 28,052.94 0.00 0.00
909.33 674.85 667.99 5,019.68 27,300.87 0.00 0.00
0.00 0.00 0.00 4,825.40 26,543.56 0.00 0.00
0.00 0.00 0.00 4,629.88 25,780.98 0.00 0.00
0.00 0.00 0.00 4,433.12 25,013.09 0.00 0.00
0.00 0.00 0.00 4,235.11 24,239.87 0.00 0.00
0.00 0.00 0.00 4,035.85 23,461.26 0.00 0.00
0.00 0.00 0.00 3,835.32 22,677.23 0.00 0.00
0.00 0.00 0.00 3,633.52 21,887.75 0.00 0.00
0.00 0.00 0.00 3,430.43 21,092.77 0.00 0.00
0.00 0.00 0.00 3,226.06 20,295.39 0.00 0.00
0.00 0.00 0.00 3,020.38 19,492.45 0.00 0.00
0.00 0.00 0.00 2,813.41 18,683.93 0.00 0.00
0.00 0.00 0.00 2,605.11 17,869.78 0.00 0.00
0.00 0.00 0.00 2,395.50 17,049.96 0.00 0.00
0.00 0.00 0.00 2,184.55 16,224.44 0.00 0.00
0.00 0.00 0.00 1,972.26 15,393.18 0.00 0.00
0.00 0.00 0.00 1,758.63 14,556.13 0.00 0.00
0.00 0.00 0.00 1,543.64 13,713.26 0.00 0.00
0.00 0.00 0.00 1,327.28 12,864.52 0.00 0.00
0.00 0.00 0.00 1,109.55 12,009.88 0.00 0.00
0.00 0.00 0.00 890.44 11,149.29 0.00 0.00
0.00 0.00 0.00 669.94 10,285.99 0.00 0.00
0.00 0.00 0.00 448.03 9,416.68 0.00 0.00
0.00 0.00 0.00 224.72 8,541.32 0.00 0.00
0.00 0.00 0.00 0.00 7,659.87 0.00 0.00
0.00 0.00 0.00 0.00 6,772.28 0.00 0.00
0.00 0.00 0.00 0.00 5,824.83 0.00 0.00
0.00 0.00 0.00 0.00 4,870.77 0.00 0.00
0.00 0.00 0.00 0.00 3,910.08 0.00 0.00
0.00 0.00 0.00 0.00 2,942.71 0.00 0.00
0.00 0.00 0.00 0.00 1,968.60 0.00 0.00
0.00 0.00 0.00 0.00 987.71 0.00 0.00
<CAPTION>
27 28 29 30 31 32 33
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS BOISE
CA IA IA IA IA ID ID
- ------------------------------------------------------------------------------------------------------------------------------------
1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31 2,012,010.19
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,235.59 3,036.88 1,594.28 1,433.35 1,498.37 1,213.01 1,923.90
1,180.33 2,901.07 1,522.98 1,369.25 1,431.37 1,158.77 1,837.87
1,124.73 2,764.42 1,451.25 1,304.75 1,363.95 1,104.19 1,751.30
1,068.79 2,626.92 1,379.06 1,239.85 1,296.10 1,049.26 1,664.19
1,012.50 2,488.56 1,306.43 1,174.55 1,227.84 994.00 1,576.54
955.85 2,349.34 1,233.34 1,108.84 1,159.15 938.39 1,488.34
898.86 2,209.25 1,159.80 1,042.72 1,090.03 882.43 1,399.59
841.50 2,068.28 1,085.79 976.19 1,020.48 826.13 1,310.29
783.79 1,926.44 1,011.33 909.24 950.49 769.47 1,220.43
725.72 1,783.72 936.40 841.88 880.07 712.47 1,130.01
667.29 1,640.10 861.01 774.10 809.21 655.10 1,039.03
608.50 1,495.59 785.14 705.89 737.91 597.38 947.48
549.33 1,350.18 708.81 637.26 666.17 539.30 855.36
489.80 1,203.86 631.99 568.20 593.98 480.86 762.66
429.90 1,056.63 554.70 498.71 521.33 422.05 669.39
369.63 908.48 476.93 428.79 448.24 362.87 575.54
308.97 759.41 398.67 358.43 374.69 303.33 481.10
247.95 609.41 319.92 287.63 300.68 243.42 386.07
186.54 458.47 240.69 216.39 226.21 183.13 290.45
124.74 306.60 160.96 144.71 151.27 122.46 194.23
62.57 153.78 80.73 72.58 75.87 61.42 97.42
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
34 35 36 37 38
-- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
IL IL LA MT OR
- -----------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- -----------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1,544.58 1,564.32 765.12 913.76 1,617.78
1,475.51 1,494.37 730.90 872.90 1,545.44
1,406.01 1,423.98 696.47 831.78 1,472.64
1,336.07 1,353.15 661.83 790.41 1,399.39
1,265.70 1,281.88 626.97 748.78 1,325.69
1,194.89 1,210.16 591.90 706.89 1,251.52
1,123.64 1,138.00 556.60 664.74 1,176.89
1,051.95 1,065.39 521.09 622.32 1,101.80
979.81 992.33 485.35 579.64 1,026.24
907.21 918.81 449.39 536.70 950.21
834.17 844.83 413.21 493.49 873.70
760.67 770.39 376.80 450.01 796.72
686.71 695.49 340.17 406.25 719.26
612.29 620.12 303.30 362.23 641.31
537.41 544.28 266.21 317.93 562.88
462.06 467.97 228.89 273.35 483.96
386.24 391.18 191.33 228.50 404.55
309.95 313.91 153.54 183.36 324.64
233.18 236.16 115.51 137.95 244.24
155.94 157.93 77.25 92.25 163.33
78.21 79.21 38.74 46.27 81.92
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 11
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
18 19 20 21 24 25 26
-- -- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG- HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH VALLEJO
OR WA WA VA NY CA CA
- ------------------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19 1,229,460.85
- ------------------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
27 28 29 30 31 32 33
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ------------------------------------------------------------------------------------------------------------------------------------
REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS BOISE
CA IA IA IA IA ID ID
- ------------------------------------------------------------------------------------------------------------------------------------
1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31 2,012,010.19
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
34 35 36 37 38
-- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS
- -----------------------------------------------------------------------------------------
MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
IL IL LA MT OR
- -----------------------------------------------------------------------------------------
1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- -----------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480%
- -----------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 12
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ----------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ----------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
10,545.97 10,545.97 10,688.00 10,200.06 11,932.63 7,664.63 122,779.19
10,529.28 10,529.28 10,671.08 10,183.91 11,913.74 7,652.50 122,646.57
10,512.48 10,512.48 10,654.06 10,167.67 11,894.73 7,640.29 122,513.17
10,495.58 10,495.58 10,636.93 10,151.32 11,875.61 7,628.01 122,379.01
10,478.58 10,478.58 10,619.70 10,134.87 11,856.37 7,615.65 122,244.06
10,461.46 10,461.46 10,602.35 10,118.32 11,837.01 7,603.21 122,108.33
10,444.25 10,444.25 10,584.90 10,101.67 11,817.52 7,590.70 121,971.81
10,426.92 10,426.92 10,567.34 10,084.91 11,797.92 7,578.10 121,834.50
10,409.49 10,409.49 10,549.67 10,068.05 11,778.19 7,565.43 121,696.40
10,391.94 10,391.94 10,531.89 10,051.08 11,758.34 7,552.68 121,557.49
10,374.29 10,374.29 10,514.00 10,034.01 11,738.37 7,539.85 121,417.78
10,356.53 10,356.53 10,496.00 10,016.83 11,718.27 7,526.94 121,277.26
10,338.65 10,338.65 10,477.89 9,999.54 11,698.05 7,513.95 121,135.93
10,320.67 10,320.67 10,459.66 9,982.15 11,677.70 7,500.88 120,993.77
10,302.57 10,302.57 10,441.32 9,964.64 11,657.22 7,487.73 120,850.79
10,284.36 10,284.36 10,422.87 9,947.03 11,636.62 7,474.50 120,706.98
10,266.04 10,266.04 10,404.30 9,929.31 11,615.89 7,461.18 120,562.33
10,247.60 10,247.60 10,385.61 9,911.48 11,595.03 7,447.78 120,416.85
10,229.05 10,229.05 10,366.81 9,893.53 11,574.04 7,434.30 120,270.52
10,210.38 10,210.38 10,347.89 9,875.48 11,552.91 7,420.73 120,123.35
10,191.60 10,191.60 10,328.85 9,857.31 11,531.66 7,407.08 119,975.32
10,172.70 10,172.70 10,309.70 9,839.03 11,510.27 7,393.34 119,826.43
10,153.68 10,153.68 10,290.42 9,820.63 11,488.75 7,379.52 119,676.68
10,134.54 10,134.54 10,271.03 9,802.12 11,467.10 7,365.61 119,526.06
10,115.29 10,115.29 10,251.51 9,783.50 11,445.31 7,351.61 119,374.56
10,095.91 10,095.91 10,231.87 9,764.76 11,423.39 7,337.53 119,222.19
10,076.41 10,076.41 10,212.11 9,745.90 11,401.33 7,323.36 119,068.94
10,056.79 10,056.79 10,192.23 9,726.92 11,379.13 7,309.10 118,914.79
10,037.05 10,037.05 10,172.22 9,707.83 11,356.79 7,294.75 118,759.75
10,017.19 10,017.19 10,152.09 9,688.62 11,334.31 7,280.32 118,603.81
9,997.20 9,997.20 10,131.83 9,669.29 11,311.70 7,265.79 118,446.97
9,977.09 9,977.09 10,111.45 9,649.83 11,288.94 7,251.17 118,289.22
9,956.85 9,956.85 10,090.94 9,630.26 11,266.04 7,236.46 118,130.55
9,936.48 9,936.48 10,070.30 9,610.56 11,243.00 7,221.66 117,970.96
9,915.99 9,915.99 10,049.53 9,590.74 11,219.81 7,206.77 117,810.45
9,895.37 9,895.37 10,028.64 9,570.80 11,196.48 7,191.78 117,649.01
9,874.63 9,874.63 10,007.61 9,550.73 11,173.01 7,176.71 117,486.63
9,853.75 9,853.75 9,986.45 9,530.54 11,149.38 7,161.53 117,323.30
9,832.74 9,832.74 9,965.16 9,510.22 11,125.62 7,146.26 117,159.03
9,811.60 9,811.60 9,943.74 9,489.78 11,101.70 7,130.90 116,993.81
9,790.33 9,790.33 9,922.18 9,469.21 11,077.63 7,115.44 116,827.63
9,768.93 9,768.93 9,900.49 9,448.51 11,053.42 7,099.89 116,660.49
9,747.40 9,747.40 9,878.67 9,427.68 11,029.05 7,084.24 116,492.37
9,725.73 9,725.73 9,856.71 9,406.72 11,004.53 7,068.49 116,323.28
9,703.92 9,703.92 9,834.61 9,385.63 10,979.86 7,052.64 116,153.21
9,681.98 9,681.98 9,812.37 9,364.41 10,955.03 7,036.69 115,982.16
9,659.90 9,659.90 9,790.00 9,343.05 10,930.05 7,020.65 115,810.11
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- -----------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- -----------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- -----------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- -----------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
35,054.52 48,353.63 19,804.15 44,251.17 19,768.75 87,891.54
35,016.50 48,241.27 19,780.03 44,194.64 19,722.47 87,891.54
34,978.24 48,128.19 19,755.76 44,137.75 19,675.94 87,891.54
34,939.73 48,014.37 19,731.33 44,080.49 19,629.15 87,891.54
34,900.97 47,899.83 19,706.73 44,022.85 19,582.10 87,891.54
34,861.96 47,784.55 19,681.98 43,964.84 19,534.79 87,891.54
34,822.70 47,668.53 19,657.07 43,906.46 19,487.21 87,891.54
34,783.18 47,551.77 19,632.00 43,847.69 19,439.38 87,713.45
34,743.40 47,434.25 19,606.77 43,788.55 19,391.28 87,534.38
34,703.36 47,315.98 19,581.37 43,729.02 19,330.97 87,354.31
34,663.06 47,196.95 19,555.80 43,669.10 19,270.33 87,173.25
34,622.50 47,077.16 19,530.07 43,608.80 19,209.36 86,991.18
34,581.68 46,956.60 19,504.17 43,548.10 19,148.05 86,808.11
34,540.59 46,835.26 19,478.10 43,487.01 19,086.39 86,624.02
34,499.23 46,713.14 19,451.87 43,425.52 19,024.40 86,438.92
34,457.60 46,590.24 19,425.46 43,363.63 18,962.07 86,252.79
34,415.70 46,466.54 19,398.88 43,301.35 18,899.39 86,065.63
34,373.53 46,342.06 19,372.13 43,238.65 18,836.36 85,877.44
34,331.09 46,216.77 19,345.21 43,175.55 18,772.99 85,688.21
34,288.37 46,090.68 19,318.11 43,112.05 18,709.27 85,498.11
34,245.37 45,963.77 19,290.83 43,048.12 18,645.19 85,306.97
34,202.09 45,836.06 19,263.38 42,983.79 18,580.76 85,114.77
34,158.53 45,707.52 19,235.75 42,919.03 18,515.98 84,921.51
34,114.68 45,578.15 19,207.93 42,853.86 18,450.83 84,727.17
34,070.56 45,447.96 19,179.94 42,788.26 18,385.33 84,531.77
34,026.14 45,316.93 19,151.77 42,722.24 18,319.47 84,335.28
33,981.43 45,185.05 19,123.41 42,655.79 18,253.24 84,137.70
33,936.44 45,052.33 19,094.87 42,588.90 18,186.64 83,939.03
33,891.15 44,918.76 19,066.14 42,521.59 18,119.68 83,739.26
33,845.56 44,784.32 19,037.23 42,453.83 18,052.35 83,538.38
33,799.68 44,649.03 19,008.13 42,385.64 17,984.64 83,336.40
33,753.50 44,512.86 18,978.84 42,317.00 17,916.56 83,133.49
33,707.02 44,375.82 18,949.35 42,247.92 17,848.11 82,929.47
33,660.24 44,237.90 18,919.68 42,178.39 17,779.27 82,724.31
33,613.15 44,099.10 18,889.82 42,108.40 17,710.06 82,518.02
33,565.76 43,959.40 18,859.76 42,037.97 17,640.46 82,310.59
33,518.06 43,818.80 18,829.50 41,967.07 17,570.48 82,102.01
33,470.04 43,677.30 18,799.05 41,895.72 17,500.12 81,892.28
33,421.72 43,534.90 18,768.40 41,823.90 17,429.36 81,681.39
33,373.08 43,391.57 18,737.55 41,751.62 17,345.35 81,469.32
33,324.12 43,247.33 18,706.50 41,678.87 17,260.88 81,256.09
33,274.85 43,102.16 18,675.25 41,605.64 17,175.94 81,041.68
33,225.25 42,956.05 18,643.79 41,531.94 17,090.54 80,826.07
33,175.33 42,809.01 18,612.13 41,457.76 17,004.66 80,609.49
33,125.09 42,661.02 18,580.27 41,383.10 16,918.30 80,391.71
33,074.52 42,512.09 18,548.20 41,307.96 16,831.47 80,172.72
33,023.62 42,362.19 18,515.92 41,232.32 16,744.16 79,952.53
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- -----------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- -----------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- -----------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- -----------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
344,164.41 24,204.81 99,517.66 84,106.55 32,981.34
343,590.01 24,161.45 99,332.74 84,106.55 32,968.58
343,011.31 24,117.84 99,146.67 84,106.55 32,955.73
342,428.26 24,073.95 98,959.44 84,106.55 32,942.78
341,840.84 24,029.79 98,771.05 84,106.55 32,929.73
341,249.01 23,985.36 98,581.49 84,106.55 32,916.59
340,652.75 23,940.65 98,390.75 84,106.55 32,903.36
340,052.01 23,895.67 98,198.82 84,106.55 32,890.02
339,446.77 23,850.42 98,005.70 84,106.55 32,876.59
338,836.99 23,804.88 97,811.38 84,106.55 32,863.06
338,222.63 23,759.06 97,615.85 84,106.55 32,849.43
337,603.67 23,712.96 97,419.10 84,106.55 32,835.70
336,980.06 23,666.58 97,221.14 84,106.55 32,821.87
336,351.78 23,619.91 97,021.94 84,106.55 32,808.33
335,718.79 23,572.95 96,821.50 84,106.55 32,794.69
335,081.05 23,525.70 96,619.82 84,106.55 32,780.94
334,438.52 23,478.16 96,416.88 83,958.19 32,767.10
333,791.18 23,430.33 96,212.69 83,808.94 32,753.16
333,138.98 23,382.20 96,007.22 83,658.81 32,739.11
332,481.89 23,333.78 95,800.47 83,507.78 32,724.96
331,819.87 23,285.05 95,592.44 83,355.85 32,710.71
331,152.89 23,236.03 95,383.12 83,203.02 32,696.35
330,480.90 23,186.70 95,172.50 83,049.28 32,681.89
329,803.88 23,137.07 94,960.56 82,894.63 32,667.32
329,121.77 23,087.14 94,747.31 82,739.06 32,652.64
328,434.55 23,036.89 94,532.73 82,582.56 32,638.27
327,742.18 22,986.34 94,316.82 82,425.13 32,623.79
327,044.61 22,935.47 94,099.57 82,266.76 32,609.21
326,341.82 22,884.30 93,880.97 82,107.45 32,594.51
325,633.75 22,832.80 93,661.00 81,947.19 32,579.71
324,920.37 22,780.99 93,439.67 81,785.98 32,564.80
324,201.64 22,728.86 93,216.97 81,623.81 32,549.79
323,477.52 22,676.40 92,992.88 81,460.67 32,534.66
322,747.97 22,623.63 92,767.39 81,296.57 32,519.42
322,012.94 22,570.53 92,540.51 81,131.48 32,504.06
321,272.41 22,517.10 92,312.21 80,965.42 32,488.60
320,526.32 22,463.34 92,082.49 80,798.37 32,473.02
319,774.63 22,409.25 91,851.35 80,630.32 32,457.76
319,017.31 22,354.82 91,618.77 80,461.27 32,442.39
318,254.31 22,300.06 91,384.74 80,291.22 32,426.90
317,485.58 22,244.96 91,149.26 80,120.16 32,411.30
316,711.09 22,189.53 90,912.32 79,948.08 32,395.59
315,930.79 22,133.75 90,673.90 79,774.97 32,379.76
315,144.64 22,077.63 90,434.00 79,600.83 32,363.81
314,352.59 22,021.16 90,192.61 79,425.66 32,347.75
313,554.61 21,964.34 89,949.72 79,249.45 32,331.57
312,750.63 21,907.17 89,705.31 79,072.18 32,315.27
</TABLE>
Page 13
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ----------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ----------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,637.69 9,637.69 9,767.48 9,321.57 10,904.91 7,004.50 115,637.06
9,615.33 9,615.33 9,744.83 9,299.94 10,879.62 6,988.26 115,463.01
9,592.84 9,592.84 9,722.03 9,278.19 10,854.17 6,971.91 115,287.95
9,570.21 9,570.21 9,699.09 9,256.30 10,828.56 6,955.46 115,111.88
9,547.43 9,547.43 9,676.01 9,234.27 10,802.79 6,938.91 114,934.78
9,524.52 9,524.52 9,652.79 9,212.11 10,776.86 6,922.25 114,756.66
9,501.46 9,501.46 9,629.42 9,189.80 10,750.77 6,905.49 114,577.51
9,478.25 9,478.25 9,605.90 9,167.36 10,724.52 6,888.63 114,397.31
9,454.91 9,454.91 9,582.24 9,144.78 10,698.10 6,871.66 114,216.07
9,431.41 9,431.41 9,558.43 9,122.06 10,671.52 6,854.59 114,033.78
9,407.77 9,407.77 9,534.47 9,099.19 10,644.77 6,837.40 113,850.43
9,383.99 9,383.99 9,510.36 9,076.19 10,617.85 6,820.12 113,666.02
9,360.05 9,360.05 9,486.11 9,053.04 10,590.77 6,802.72 113,480.54
9,335.97 9,335.97 9,461.70 9,029.74 10,563.52 6,785.22 113,293.98
9,311.73 9,311.73 9,437.14 9,006.30 10,536.10 6,767.60 113,106.34
9,287.35 9,287.35 9,412.42 8,982.72 10,508.51 6,749.88 112,917.61
9,262.81 9,262.81 9,387.55 8,958.98 10,480.74 6,732.05 112,727.79
9,238.12 9,238.12 9,362.53 8,935.10 10,452.81 6,714.10 112,536.86
9,213.27 9,213.27 9,337.35 8,911.07 10,424.70 6,696.05 112,344.83
9,188.27 9,188.27 9,312.02 8,886.89 10,396.41 6,677.88 112,151.69
9,163.12 9,163.12 9,286.52 8,862.56 10,367.95 6,659.59 111,957.42
9,137.81 9,137.81 9,260.87 8,838.08 10,339.31 6,641.20 111,762.03
9,112.34 9,112.34 9,235.06 8,813.45 10,310.49 6,622.69 111,565.51
9,086.71 9,086.71 9,209.08 8,788.66 10,281.49 6,604.06 111,367.84
9,060.92 9,060.92 9,182.95 8,763.72 10,252.31 6,585.32 111,169.03
9,034.97 9,034.97 9,156.65 8,738.62 10,222.95 6,566.46 110,969.07
9,008.86 9,008.86 9,130.19 8,713.37 10,193.41 6,547.48 110,767.94
8,982.59 8,982.59 9,103.56 8,687.95 10,163.68 6,528.39 110,565.65
8,956.15 8,956.15 9,076.77 8,662.38 10,133.76 6,509.17 110,362.19
8,929.55 8,929.55 9,049.81 8,636.65 10,103.66 6,489.84 110,157.54
8,902.78 8,902.78 9,022.68 8,610.76 10,073.38 6,470.39 109,951.71
8,875.85 8,875.85 8,995.38 8,584.71 10,042.90 6,450.81 109,744.69
8,848.74 8,848.74 8,967.91 8,558.50 10,012.23 6,431.11 109,536.46
8,821.47 8,821.47 8,940.27 8,532.12 9,981.38 6,411.29 109,327.03
8,794.03 8,794.03 8,912.46 8,505.58 9,950.33 6,391.35 109,116.38
8,766.42 8,766.42 8,884.48 8,478.87 9,919.08 6,371.28 108,904.51
8,738.63 8,738.63 8,856.32 8,452.00 9,887.65 6,351.09 108,691.41
8,710.67 8,710.67 8,827.98 8,424.96 9,856.01 6,330.77 108,477.08
8,682.54 8,682.54 8,799.47 8,397.75 9,824.18 6,310.32 108,261.50
8,654.24 8,654.24 8,770.78 8,370.37 9,792.15 6,289.75 108,044.67
8,625.75 8,625.75 8,741.92 8,342.82 9,759.92 6,269.05 107,826.59
8,597.09 8,597.09 8,712.87 8,315.10 9,727.49 6,248.21 107,607.23
8,568.25 8,568.25 8,683.64 8,287.21 9,694.86 6,227.25 107,386.61
8,539.23 8,539.23 8,654.23 8,259.14 9,662.02 6,206.16 107,164.71
8,510.03 8,510.03 8,624.64 8,230.90 9,628.98 6,184.94 106,941.52
8,480.65 8,480.65 8,594.86 8,202.48 9,595.74 6,163.58 106,717.04
8,451.08 8,451.08 8,564.89 8,173.88 9,562.28 6,142.10 106,491.25
8,421.33 8,421.33 8,534.74 8,145.11 9,528.62 6,120.47 106,264.15
8,391.39 8,391.39 8,504.40 8,116.15 9,494.75 6,098.72 106,035.74
8,361.27 8,361.27 8,473.88 8,087.02 9,460.67 6,076.83 105,806.00
8,330.96 8,330.96 8,443.16 8,057.70 9,426.37 6,054.80 105,574.93
8,300.46 8,300.46 8,412.25 8,028.20 9,391.86 6,032.63 105,342.52
8,269.77 8,269.77 8,381.14 7,998.52 9,357.14 6,010.33 105,108.77
8,238.89 8,238.89 8,349.85 7,968.65 9,322.20 5,987.88 104,873.65
8,207.82 8,207.82 8,318.36 7,938.60 9,287.04 5,965.30 104,637.17
8,176.55 8,176.55 8,286.67 7,908.36 9,251.66 5,942.58 104,399.33
8,145.09 8,145.09 8,254.78 7,877.93 9,216.06 5,919.71 104,160.10
8,113.43 8,113.43 8,222.70 7,847.31 9,180.24 5,896.70 103,919.48
8,081.58 8,081.58 8,190.42 7,816.50 9,144.20 5,873.55 103,677.47
8,049.53 8,049.53 8,157.93 7,785.50 9,107.93 5,850.25 103,434.05
8,017.27 8,017.27 8,125.24 7,754.30 9,071.44 5,826.81 103,189.23
7,984.82 7,984.82 8,092.35 7,722.91 9,034.71 5,803.23 102,942.98
7,952.16 7,952.16 8,059.25 7,691.33 8,997.76 5,779.49 102,695.30
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- -----------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- -----------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- -----------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- -----------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
32,972.39 42,211.33 18,483.43 41,156.20 16,656.37 79,731.11
32,920.83 42,059.51 18,450.72 41,079.58 16,568.09 79,508.47
32,868.93 41,906.70 18,417.81 41,002.47 16,479.32 79,284.60
32,816.69 41,752.92 18,384.68 40,924.85 16,390.07 79,059.48
32,764.11 41,598.15 18,351.34 40,846.73 16,300.32 78,833.13
32,711.19 41,442.38 18,317.78 40,768.10 16,210.07 78,605.51
32,657.93 41,285.61 18,284.00 40,688.96 16,119.33 78,376.65
32,604.32 41,127.84 18,250.00 40,609.31 16,028.08 78,146.51
32,550.36 40,969.05 18,215.78 40,529.15 15,936.34 77,915.32
32,496.05 40,809.24 18,181.34 40,448.46 15,844.08 77,682.85
32,441.39 40,648.40 18,146.68 40,367.24 15,751.31 77,449.10
32,386.37 40,486.53 18,111.79 40,285.50 15,658.03 77,214.05
32,330.99 40,323.62 18,076.67 40,203.23 15,564.24 76,977.70
32,275.25 40,159.67 18,041.32 40,120.43 15,469.93 76,740.05
32,219.15 39,994.66 18,005.75 40,037.09 15,375.10 76,501.08
32,162.68 39,828.59 17,969.94 39,953.20 15,279.74 76,260.79
32,105.85 39,661.45 17,933.90 39,868.78 15,183.85 76,019.16
32,048.65 39,493.24 17,897.63 39,783.80 15,087.44 75,776.20
31,991.07 39,323.95 17,861.12 39,698.27 14,990.49 75,531.90
31,933.12 39,153.57 17,824.37 39,612.19 14,893.01 75,286.24
31,874.79 38,982.10 17,787.39 39,525.55 14,794.99 75,039.46
31,816.08 38,809.53 17,750.16 39,438.35 14,696.43 74,791.31
31,756.99 38,635.84 17,712.70 39,350.58 14,583.47 74,541.79
31,697.52 38,461.04 17,674.98 39,262.24 14,469.90 74,290.89
31,637.66 38,285.12 17,637.03 39,173.32 14,355.69 74,038.60
31,577.41 38,108.07 17,598.83 39,083.83 14,240.85 73,784.92
31,516.77 37,929.88 17,560.37 38,993.76 14,125.38 73,529.83
31,455.73 37,750.54 17,521.67 38,903.11 14,009.27 73,273.33
31,394.29 37,570.05 17,482.72 38,811.86 13,892.52 73,015.41
31,332.46 37,388.40 17,443.51 38,720.03 13,775.12 72,756.06
31,270.22 37,205.59 17,404.05 38,627.59 13,657.08 72,495.28
31,207.58 37,021.60 17,364.34 38,534.56 13,538.38 72,233.05
31,144.53 36,836.43 17,324.36 38,440.92 13,419.03 71,969.62
31,081.07 36,650.07 17,284.12 38,346.68 13,299.01 71,704.73
31,017.20 36,462.51 17,243.63 38,251.82 13,178.34 71,438.37
30,952.91 36,273.75 17,202.87 38,156.35 13,057.00 71,170.54
30,888.20 36,083.77 17,161.84 38,060.26 12,934.98 70,901.23
30,823.07 35,892.57 17,120.55 37,963.54 12,812.30 70,630.43
30,757.52 35,700.15 17,078.99 37,866.20 12,688.93 70,358.13
30,691.54 35,506.49 17,037.16 37,768.22 12,564.88 70,084.32
30,625.13 35,311.58 16,995.06 37,669.61 12,440.15 69,809.00
30,558.29 35,115.42 16,952.68 37,570.36 12,314.73 69,532.15
30,491.01 34,918.00 16,910.03 37,470.46 12,188.62 69,253.78
30,423.30 34,719.32 16,867.10 37,369.92 12,061.81 68,973.86
30,355.15 34,519.35 16,823.89 37,268.72 11,934.30 68,692.65
30,286.55 34,318.11 16,780.40 37,166.87 11,806.08 68,409.88
30,217.50 34,115.56 16,736.63 37,064.35 11,677.16 68,125.55
30,148.01 33,911.72 16,692.58 36,961.17 11,547.52 67,839.65
30,078.07 33,706.57 16,648.24 36,857.32 11,417.17 67,552.16
30,007.66 33,500.10 16,603.61 36,752.79 11,286.09 67,263.09
29,936.80 33,292.30 16,558.69 36,647.59 11,154.30 66,972.41
29,865.48 33,083.17 16,513.47 36,541.70 11,021.77 66,680.12
29,793.70 32,872.70 16,467.97 36,435.13 10,873.60 66,386.22
29,721.45 32,660.87 16,422.16 36,327.86 10,724.62 66,090.69
29,648.73 32,447.68 16,376.07 36,219.90 10,574.80 65,793.53
29,575.53 32,233.12 16,329.67 36,111.24 10,424.17 65,494.72
29,501.86 32,017.18 16,282.96 36,001.87 10,272.69 65,194.53
29,427.71 31,799.86 16,235.96 35,891.79 10,120.39 64,892.68
29,353.07 31,581.14 16,188.65 35,781.00 9,967.24 64,589.15
29,277.95 31,361.01 16,141.03 35,669.49 9,813.24 64,283.95
29,202.34 31,139.47 16,093.11 35,557.25 9,658.39 63,977.06
29,126.24 30,916.51 16,044.87 35,444.29 9,502.69 63,668.47
29,049.65 30,692.11 15,996.31 35,330.59 9,346.13 63,358.17
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- -----------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- -----------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- -----------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- -----------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
311,940.63 21,849.65 89,459.39 78,893.87 32,298.85
311,124.55 21,791.78 89,211.94 78,714.49 32,282.31
310,302.36 21,733.54 88,962.95 78,534.04 32,266.11
309,473.99 21,674.95 88,712.42 78,352.52 32,210.13
308,639.41 21,616.00 88,460.32 78,169.92 32,153.73
307,798.58 21,556.69 88,206.66 77,986.24 32,096.92
306,951.43 21,497.00 87,951.42 77,801.46 32,039.69
306,097.94 21,436.95 87,694.60 77,615.58 31,982.04
305,238.04 21,376.53 87,436.18 77,428.60 31,923.97
304,371.69 21,315.74 87,176.15 77,240.50 31,865.47
303,498.85 21,254.57 86,914.51 77,051.28 31,806.55
302,619.46 21,193.03 86,651.24 76,860.94 31,747.18
301,733.47 21,131.11 86,386.33 76,669.47 31,687.39
300,840.84 21,068.80 86,119.77 76,476.85 31,627.15
299,941.51 21,006.11 85,851.56 76,283.09 31,566.95
299,035.44 20,943.03 85,581.68 76,088.18 31,506.30
298,122.57 20,879.57 85,310.13 75,892.11 31,445.21
297,202.86 20,815.71 85,036.88 75,694.87 31,383.67
296,276.25 20,751.46 84,761.94 75,496.46 31,321.68
295,342.69 20,686.81 84,485.28 75,296.86 31,259.23
294,402.13 20,621.77 84,206.91 75,096.08 31,196.32
293,454.51 20,556.32 83,926.81 74,894.11 31,132.95
292,499.79 20,490.47 83,644.96 74,690.93 31,069.12
291,537.90 20,424.21 83,361.37 74,486.54 31,004.81
290,568.80 20,357.55 83,076.01 74,280.94 30,940.04
289,592.44 20,290.47 82,788.87 74,074.12 30,874.78
288,608.75 20,222.98 82,499.96 73,866.06 30,809.55
287,617.68 20,155.07 82,209.24 73,656.77 30,743.84
286,619.18 20,086.75 81,916.72 73,446.23 30,677.65
285,613.19 20,018.00 81,622.38 73,234.43 30,610.97
284,599.66 19,948.83 81,326.21 73,021.38 30,543.80
283,578.53 19,879.24 81,028.20 72,807.06 30,476.13
282,549.73 19,809.21 80,728.33 72,591.47 30,407.97
281,513.22 19,738.75 80,426.60 72,374.59 30,339.31
280,468.94 19,667.86 80,123.00 72,156.42 30,270.14
279,416.82 19,596.53 79,817.51 71,936.96 30,200.47
278,356.82 19,524.76 79,510.12 71,716.18 30,130.28
277,288.86 19,452.55 79,200.81 71,494.10 30,059.58
276,212.90 19,379.89 78,889.59 71,270.69 29,988.88
275,128.86 19,306.79 78,576.43 71,045.95 29,917.67
274,036.69 19,233.23 78,261.33 70,819.88 29,845.93
272,936.34 19,159.22 77,944.26 70,592.46 29,773.66
271,827.73 19,084.76 77,625.22 70,363.69 29,700.87
270,710.80 19,009.83 77,304.20 70,133.56 29,627.53
269,585.50 18,934.44 76,981.19 69,902.05 29,553.66
268,451.76 18,858.59 76,656.17 69,669.17 29,479.25
267,309.52 18,782.27 76,329.12 69,434.91 29,404.29
266,158.70 18,705.48 76,000.05 69,199.25 29,328.77
264,999.26 18,628.22 75,668.92 68,962.19 29,252.71
263,831.12 18,550.48 75,335.74 68,723.72 29,176.08
262,654.23 18,472.26 75,000.49 68,483.82 29,099.45
261,468.50 18,393.56 74,663.15 68,242.51 29,022.25
260,273.88 18,314.37 74,323.72 67,999.75 28,944.48
259,070.30 18,234.69 73,982.18 67,755.55 28,866.14
257,857.70 18,154.52 73,638.51 67,509.90 28,787.22
256,636.00 18,073.86 73,292.71 67,262.79 28,707.73
255,405.14 17,992.70 72,944.75 67,014.21 28,627.65
254,165.04 17,911.04 72,594.64 66,764.14 28,546.98
252,915.65 17,828.88 72,242.34 66,512.59 28,465.73
251,656.88 17,746.21 71,887.86 66,259.55 28,383.87
250,388.68 17,663.03 71,531.17 66,004.99 28,301.41
249,110.96 17,579.34 71,172.27 65,748.93 28,218.35
247,823.66 17,495.13 70,811.13 65,491.33 28,135.25
</TABLE>
Page 14
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ----------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ----------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
7,919.30 7,919.30 8,025.95 7,659.54 8,960.58 5,755.61 102,446.19
7,886.24 7,886.24 7,992.44 7,627.56 8,923.17 5,731.58 102,195.63
7,852.96 7,852.96 7,958.72 7,595.38 8,885.52 5,707.40 101,943.62
7,819.49 7,819.49 7,924.79 7,563.00 8,847.64 5,683.07 101,690.15
7,785.80 7,785.80 7,890.65 7,530.42 8,809.53 5,658.58 101,435.21
7,751.90 7,751.90 7,856.30 7,497.63 8,771.17 5,633.95 101,178.79
7,717.79 7,717.79 7,821.73 7,464.64 8,732.58 5,609.16 100,920.88
7,683.47 7,683.47 7,786.95 7,431.45 8,693.74 5,584.21 100,661.48
7,648.94 7,648.94 7,751.95 7,398.05 8,654.67 5,559.11 100,400.57
7,614.19 7,614.19 7,716.73 7,364.44 8,615.35 5,533.86 100,138.15
7,579.22 7,579.22 7,681.29 7,330.62 8,575.78 5,508.44 99,874.21
7,544.03 7,544.03 7,645.63 7,296.59 8,535.97 5,482.87 99,608.73
7,508.63 7,508.63 7,609.75 7,262.34 8,495.91 5,457.14 99,341.72
7,473.00 7,473.00 7,573.65 7,227.89 8,455.60 5,431.25 99,073.15
7,437.16 7,437.16 7,537.32 7,193.21 8,415.04 5,405.20 98,803.03
7,401.09 7,401.09 7,500.76 7,158.33 8,374.23 5,378.98 98,531.35
7,364.79 7,364.79 7,463.98 7,123.22 8,333.16 5,352.60 98,258.08
7,328.27 7,328.27 7,426.96 7,087.90 8,291.84 5,326.06 97,983.24
7,291.52 7,291.52 7,389.72 7,052.36 8,250.26 5,299.35 97,706.79
7,254.54 7,254.54 7,352.24 7,016.59 8,208.42 5,272.47 97,428.75
7,217.33 7,217.33 7,314.53 6,980.60 8,166.32 5,245.43 97,149.09
7,179.89 7,179.89 7,276.59 6,944.39 8,123.95 5,218.22 96,867.81
7,142.22 7,142.22 7,238.41 6,907.95 8,081.33 5,190.84 96,584.90
7,104.31 7,104.31 7,199.99 6,871.29 8,038.43 5,163.29 96,300.35
7,066.17 7,066.17 7,161.33 6,834.39 7,995.27 5,135.57 96,014.14
7,027.78 7,027.78 7,122.43 6,797.27 7,951.84 5,107.67 95,726.28
6,989.16 6,989.16 7,083.29 6,759.91 7,908.14 5,079.60 95,436.75
6,950.30 6,950.30 7,043.90 6,722.32 7,864.17 5,051.35 95,145.54
6,911.19 6,911.19 7,004.27 6,684.50 7,819.92 5,022.93 94,852.64
6,871.84 6,871.84 6,964.39 6,646.44 7,775.40 4,994.34 94,558.04
6,832.25 6,832.25 6,924.26 6,608.15 7,730.60 4,965.56 94,261.73
6,792.41 6,792.41 6,883.88 6,569.61 7,685.52 4,936.60 93,963.70
6,752.32 6,752.32 6,843.25 6,530.84 7,640.16 4,907.47 93,663.95
6,711.98 6,711.98 6,802.37 6,491.82 7,594.51 4,878.15 93,362.45
6,671.39 6,671.39 6,761.23 6,452.56 7,548.59 4,848.65 93,059.21
6,630.54 6,630.54 6,719.84 6,413.06 7,502.37 4,818.96 92,754.21
6,589.45 6,589.45 6,678.19 6,373.31 7,455.87 4,789.09 92,447.44
6,548.09 6,548.09 6,636.28 6,333.31 7,409.08 4,759.04 92,138.89
6,506.48 6,506.48 6,594.10 6,293.06 7,361.99 4,728.80 91,828.55
6,464.61 6,464.61 6,551.67 6,252.57 7,314.62 4,698.36 91,516.41
6,422.48 6,422.48 6,508.97 6,211.81 7,266.94 4,667.74 91,202.46
6,380.08 6,380.08 6,466.00 6,170.81 7,218.97 4,636.93 90,886.69
6,337.42 6,337.42 6,422.77 6,129.55 7,170.71 4,605.93 90,569.09
6,294.49 6,294.49 6,379.26 6,088.03 7,122.14 4,574.73 90,249.64
6,251.30 6,251.30 6,335.49 6,046.26 7,073.26 4,543.34 89,928.35
6,207.84 6,207.84 6,291.44 6,004.22 7,024.09 4,511.75 89,605.19
6,164.11 6,164.11 6,247.12 5,961.92 6,974.60 4,479.96 89,280.15
6,120.10 6,120.10 6,202.52 5,919.36 6,924.81 4,447.98 88,953.23
6,075.82 6,075.82 6,157.65 5,876.53 6,874.71 4,415.80 88,624.42
6,031.26 6,031.26 6,112.49 5,833.44 6,824.29 4,383.42 88,293.69
5,986.43 5,986.43 6,067.05 5,790.07 6,773.57 4,350.83 87,961.05
5,941.32 5,941.32 6,021.33 5,746.44 6,722.52 4,318.05 87,626.48
5,895.92 5,895.92 5,975.33 5,702.53 6,671.16 4,285.05 87,289.97
5,850.25 5,850.25 5,929.03 5,658.35 6,619.47 4,251.86 86,951.51
5,804.28 5,804.28 5,882.45 5,613.90 6,567.47 4,218.45 86,611.08
5,758.03 5,758.03 5,835.58 5,569.17 6,515.14 4,184.84 86,268.68
5,711.50 5,711.50 5,788.42 5,524.16 6,462.48 4,151.02 85,924.29
5,664.67 5,664.67 5,740.96 5,478.87 6,409.50 4,116.98 85,577.91
5,617.55 5,617.55 5,693.20 5,433.29 6,356.18 4,082.74 85,229.52
5,570.14 5,570.14 5,645.15 5,387.44 6,302.54 4,048.28 84,879.10
5,522.43 5,522.43 5,596.80 5,341.29 6,248.56 4,013.61 84,526.66
5,474.43 5,474.43 5,548.15 5,294.86 6,194.24 3,978.72 84,172.17
5,426.12 5,426.12 5,499.20 5,248.14 6,139.58 3,943.61 83,815.62
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- -----------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- -----------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- -----------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- -----------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
28,972.55 30,466.27 15,947.45 35,216.15 9,188.70 63,046.16
28,894.96 30,238.98 15,898.26 35,100.97 9,030.41 62,732.42
28,816.86 30,010.23 15,848.76 34,985.05 8,871.24 62,416.94
28,738.25 29,780.01 15,798.93 34,868.37 8,711.18 62,099.72
28,659.13 29,548.31 15,748.78 34,750.93 8,550.25 61,780.74
28,579.49 29,315.13 15,698.30 34,632.73 8,388.42 61,460.28
28,499.34 29,080.44 15,647.50 34,513.77 8,225.71 61,138.05
28,418.66 28,844.25 15,596.36 34,394.03 8,062.09 60,814.03
28,337.46 28,606.54 15,544.89 34,273.51 7,897.57 60,488.22
28,255.73 28,367.30 15,493.09 34,152.21 7,732.14 60,160.61
28,173.47 28,126.53 15,440.95 34,030.13 7,565.79 59,831.19
28,090.67 27,884.20 15,388.48 33,907.25 7,398.53 59,499.94
28,007.33 27,640.32 15,335.66 33,783.57 7,230.34 59,166.86
27,923.46 27,394.88 15,282.50 33,659.10 7,061.22 58,831.93
27,839.03 27,147.85 15,228.99 33,533.81 6,891.17 58,495.16
27,754.06 26,899.24 15,175.13 33,407.71 6,720.18 58,156.52
27,668.53 26,649.04 15,120.93 33,280.79 6,548.25 57,816.00
27,582.45 26,397.22 15,066.37 33,153.05 6,375.36 57,473.90
27,495.81 26,143.79 15,011.46 33,024.47 6,201.52 57,129.91
27,408.60 25,888.73 14,956.19 32,895.07 6,010.66 56,784.01
27,320.82 25,632.03 14,900.56 32,764.82 5,818.75 56,436.20
27,232.48 25,373.68 14,844.57 32,633.73 5,625.77 56,086.46
27,143.56 25,113.67 14,788.22 32,501.79 5,431.74 55,734.79
27,054.06 24,851.99 14,731.49 32,368.99 5,236.62 55,381.17
26,963.97 24,588.63 14,674.41 32,235.33 5,040.43 55,025.60
26,873.31 24,323.58 14,616.95 32,100.80 4,843.16 54,668.06
26,782.05 24,056.82 14,559.11 31,965.39 4,644.80 54,308.54
26,690.19 23,788.35 14,500.90 31,829.11 4,445.34 53,947.03
26,597.74 23,518.16 14,442.31 31,691.94 4,244.78 53,583.52
26,504.69 23,246.22 14,383.35 31,553.89 4,043.11 53,218.31
26,411.03 22,972.55 14,323.99 31,414.93 3,840.32 52,851.08
26,316.77 22,697.11 14,264.26 31,275.08 3,636.42 52,481.82
26,221.89 22,419.90 14,204.13 31,134.32 3,431.39 52,110.51
26,126.39 22,140.92 14,143.61 30,992.64 3,225.22 51,737.15
26,030.27 21,860.14 14,082.70 30,850.04 3,017.92 51,361.73
25,933.52 21,577.55 14,021.40 30,706.52 2,809.47 50,984.22
25,836.15 21,293.15 13,959.69 30,562.07 2,599.87 50,604.63
25,738.14 21,006.93 13,897.59 30,416.68 2,389.12 50,222.94
25,639.49 20,718.86 13,835.08 30,270.34 2,177.19 49,839.13
25,540.20 20,428.95 13,772.16 30,123.05 1,964.10 49,453.21
25,440.27 20,137.17 13,708.84 29,974.81 1,749.83 49,065.14
25,339.68 19,843.51 13,645.10 29,825.61 1,534.38 48,675.26
25,238.44 19,547.97 13,580.95 29,675.44 1,317.73 48,283.22
25,136.54 19,250.53 13,516.38 29,524.29 1,099.89 47,889.01
25,033.98 18,951.18 13,451.39 29,372.16 880.85 47,492.61
24,930.75 18,649.91 13,385.98 29,219.04 660.59 47,094.03
24,826.85 18,346.70 13,320.15 29,064.93 439.12 46,693.24
24,722.27 18,041.54 13,253.89 28,909.82 216.42 46,290.23
24,617.01 17,734.42 13,187.19 28,753.71 0.00 45,884.99
24,511.07 17,425.33 13,120.07 28,596.58 0.00 45,477.51
24,404.44 17,114.26 13,052.50 28,438.42 0.00 45,067.78
24,297.11 16,801.18 12,984.50 28,279.25 0.00 44,655.77
24,189.08 16,486.09 12,916.06 28,119.04 0.00 44,241.49
24,080.35 16,168.98 12,847.17 27,957.78 0.00 43,825.26
23,970.92 15,849.83 12,777.83 27,795.49 0.00 43,406.73
23,860.77 15,528.63 12,708.04 27,632.14 0.00 42,985.88
23,749.90 15,205.37 12,637.80 27,467.72 0.00 42,562.70
23,638.32 14,880.03 12,567.10 27,302.24 0.00 42,137.18
23,526.00 14,552.60 12,495.94 27,135.69 0.00 41,709.30
23,412.96 14,223.06 12,424.32 26,968.06 0.00 41,279.06
23,299.18 13,891.41 12,352.24 26,799.33 0.00 40,846.44
23,184.66 13,557.63 12,279.68 26,629.52 0.00 40,411.42
23,069.39 13,221.70 12,206.66 26,458.60 0.00 39,974.00
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- -----------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- -----------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- -----------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- -----------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
246,526.70 17,410.40 70,447.75 65,232.21 28,006.19
245,220.02 17,325.15 70,082.12 64,971.55 27,876.18
243,903.54 17,239.38 0.00 64,709.33 27,745.22
242,577.18 17,153.07 0.00 64,445.55 27,613.30
241,240.88 17,066.24 0.00 64,180.21 27,480.40
239,894.55 0.00 0.00 63,913.28 27,346.53
238,538.13 0.00 0.00 63,644.77 27,211.68
237,171.53 0.00 0.00 63,374.66 27,075.83
235,794.69 0.00 0.00 63,102.94 26,938.99
234,407.52 0.00 0.00 62,829.61 26,801.14
233,009.94 0.00 0.00 62,554.65 26,662.28
231,601.88 0.00 0.00 62,278.05 26,523.01
230,183.26 0.00 0.00 61,999.81 26,382.71
228,754.01 0.00 0.00 61,719.91 26,241.38
227,314.03 0.00 0.00 61,438.34 26,099.01
225,863.25 0.00 0.00 61,155.10 25,955.60
224,401.59 0.00 0.00 60,870.18 25,811.13
222,928.97 0.00 0.00 60,583.56 25,665.60
221,445.31 0.00 0.00 60,295.24 25,519.01
219,950.51 0.00 0.00 60,005.20 25,371.33
218,444.51 0.00 0.00 59,713.43 25,222.57
216,927.21 0.00 0.00 59,419.93 25,072.72
215,398.53 0.00 0.00 59,124.68 24,921.76
213,858.39 0.00 0.00 58,827.67 24,770.34
212,306.70 0.00 0.00 58,528.90 24,617.80
210,743.36 0.00 0.00 0.00 24,464.14
209,168.31 0.00 0.00 0.00 24,309.35
207,581.44 0.00 0.00 0.00 24,153.43
205,982.67 0.00 0.00 0.00 23,996.36
204,371.90 0.00 0.00 0.00 23,838.13
202,749.06 0.00 0.00 0.00 23,678.75
201,114.04 0.00 0.00 0.00 23,518.19
199,466.77 0.00 0.00 0.00 23,356.45
197,807.14 0.00 0.00 0.00 23,193.52
196,135.06 0.00 0.00 0.00 23,029.40
194,450.44 0.00 0.00 0.00 22,864.74
192,753.18 0.00 0.00 0.00 22,698.87
191,043.20 0.00 0.00 0.00 22,531.78
189,320.39 0.00 0.00 0.00 22,363.46
187,584.66 0.00 0.00 0.00 22,193.91
185,835.91 0.00 0.00 0.00 22,023.11
184,074.05 0.00 0.00 0.00 21,851.05
182,298.97 0.00 0.00 0.00 21,677.74
180,510.58 0.00 0.00 0.00 21,503.14
178,708.78 0.00 0.00 0.00 21,327.27
176,893.46 0.00 0.00 0.00 21,150.10
175,064.53 0.00 0.00 0.00 20,971.63
173,221.89 0.00 0.00 0.00 20,792.55
171,365.42 0.00 0.00 0.00 20,612.16
169,495.02 0.00 0.00 0.00 20,430.44
167,610.61 0.00 0.00 0.00 20,247.39
165,712.05 0.00 0.00 0.00 20,062.99
163,799.26 0.00 0.00 0.00 19,877.24
161,872.12 0.00 0.00 0.00 19,690.12
159,930.53 0.00 0.00 0.00 19,501.63
157,974.38 0.00 0.00 0.00 19,311.75
156,003.55 0.00 0.00 0.00 19,120.47
154,017.95 0.00 0.00 0.00 18,927.80
152,017.45 0.00 0.00 0.00 18,733.70
150,001.95 0.00 0.00 0.00 18,538.92
147,971.33 0.00 0.00 0.00 18,290.39
145,925.48 0.00 0.00 0.00 18,040.04
143,864.29 0.00 0.00 0.00 17,787.84
</TABLE>
Page 15
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ----------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ----------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,377.51 5,377.51 5,449.93 5,201.13 6,084.59 3,908.28 83,457.01
5,328.61 5,328.61 5,400.37 5,153.82 6,029.25 3,872.74 83,096.31
5,279.39 5,279.39 5,350.49 5,106.22 5,973.56 3,836.97 82,733.53
5,229.87 5,229.87 5,300.30 5,058.33 5,917.53 3,800.98 82,368.64
5,180.04 5,180.04 5,249.80 5,010.13 5,861.15 3,764.76 82,001.63
5,129.90 5,129.90 5,198.99 4,961.64 5,804.42 3,728.32 81,632.50
5,079.45 5,079.45 5,147.86 4,912.84 5,747.33 3,691.66 81,261.22
5,028.68 5,028.68 5,096.41 4,863.74 5,689.89 3,654.76 80,887.79
4,977.60 4,977.60 5,044.63 4,814.33 5,632.09 3,617.63 80,512.19
4,926.20 4,926.20 4,992.54 4,764.62 5,573.93 3,580.27 80,134.42
4,874.48 4,874.48 4,940.12 4,714.59 5,515.40 3,542.68 79,754.45
4,822.43 4,822.43 4,887.38 4,664.25 5,456.52 3,504.86 79,372.29
4,770.06 4,770.06 4,834.30 4,613.60 5,397.26 3,466.80 78,987.90
4,717.37 4,717.37 4,780.90 4,562.63 5,337.64 3,428.50 78,601.29
4,664.34 4,664.34 4,727.16 4,511.35 5,277.64 3,389.96 78,212.43
4,610.99 4,610.99 4,673.09 4,459.75 5,217.27 3,351.19 77,821.32
4,557.30 4,557.30 4,618.68 4,407.82 5,156.53 3,312.17 77,427.93
4,503.28 4,503.28 4,563.93 4,355.57 5,095.40 3,272.91 77,032.27
4,448.92 4,448.92 4,508.84 4,303.00 5,033.90 3,233.40 76,634.31
4,394.23 4,394.23 4,453.40 4,250.09 4,972.01 3,193.65 76,234.05
4,339.19 4,339.19 4,397.62 4,196.86 4,909.73 3,153.65 75,831.46
4,283.81 4,283.81 4,341.50 4,143.29 4,847.07 3,113.40 75,426.54
4,228.08 4,228.08 4,285.02 4,089.40 4,784.02 3,072.89 75,019.27
4,172.01 4,172.01 4,228.19 4,035.16 4,720.57 3,032.14 74,609.63
4,115.58 4,115.58 4,171.01 3,980.59 4,656.73 2,991.13 74,197.63
4,058.81 4,058.81 4,113.47 3,925.68 4,592.49 2,949.87 73,783.23
4,001.68 4,001.68 4,055.57 3,870.42 4,527.85 2,908.35 73,366.42
3,944.19 3,944.19 3,997.31 3,814.82 4,462.80 2,866.57 72,947.21
3,886.35 3,886.35 3,938.69 3,758.88 4,397.35 2,824.53 72,525.55
3,828.15 3,828.15 3,879.70 3,702.58 4,331.50 2,782.23 72,101.46
3,769.58 3,769.58 3,820.35 3,645.94 4,265.23 2,739.67 71,674.90
3,710.65 3,710.65 3,760.62 3,588.94 4,198.55 2,696.83 71,245.87
3,651.35 3,651.35 3,700.52 3,531.58 4,131.45 2,653.74 70,814.35
3,591.68 3,591.68 3,640.05 3,473.87 4,063.94 2,610.37 70,380.33
3,531.64 3,531.64 3,579.20 3,415.80 3,996.00 2,566.73 69,943.79
3,471.23 3,471.23 3,517.97 3,357.37 3,927.65 2,522.83 69,504.72
3,410.43 3,410.43 3,456.36 3,298.57 3,858.86 2,478.64 69,063.10
3,349.26 3,349.26 3,394.37 3,239.41 3,789.65 2,434.19 68,618.93
3,287.71 3,287.71 3,331.99 3,179.87 3,720.00 2,389.45 68,172.17
3,225.78 3,225.78 3,269.22 3,119.97 3,649.92 2,344.44 67,722.82
3,163.46 3,163.46 3,206.06 3,059.69 3,579.41 2,299.14 67,270.87
3,100.75 3,100.75 3,142.50 2,999.04 3,508.45 2,253.57 66,816.30
3,037.64 3,037.64 3,078.55 2,938.01 3,437.05 2,207.71 66,359.09
2,974.15 2,974.15 3,014.20 2,876.60 3,365.21 2,161.56 65,899.23
2,910.26 2,910.26 2,949.45 2,814.80 3,292.92 2,115.13 65,436.70
2,845.97 2,845.97 2,884.30 2,752.62 3,220.18 2,068.40 64,971.48
2,781.28 2,781.28 2,818.74 2,690.06 3,146.99 2,021.39 64,503.57
2,716.19 2,716.19 2,752.77 2,627.10 3,073.33 1,974.08 64,032.95
2,650.69 2,650.69 2,686.39 2,563.75 2,999.22 1,926.48 63,559.60
2,584.79 2,584.79 2,619.60 2,500.01 2,924.65 1,878.58 63,083.50
2,518.47 2,518.47 2,552.39 2,435.86 2,849.62 1,830.38 62,604.64
2,451.74 2,451.74 2,484.76 2,371.32 2,774.11 1,781.88 62,123.00
2,384.59 2,384.59 2,416.71 2,306.38 2,698.14 1,733.08 61,638.57
2,317.03 2,317.03 2,348.23 2,241.03 2,621.69 1,683.98 61,151.33
2,249.04 2,249.04 2,279.33 2,175.27 2,544.76 1,634.57 60,661.26
2,180.63 2,180.63 2,210.00 2,109.11 2,467.36 1,584.85 60,168.35
2,111.80 2,111.80 2,140.24 2,042.53 2,389.47 1,534.82 59,672.58
2,042.53 2,042.53 2,070.04 1,975.54 2,311.10 1,484.48 59,173.94
1,972.84 1,972.84 1,999.40 1,908.13 2,232.24 1,433.82 58,672.40
1,902.70 1,902.70 1,928.33 1,840.30 2,152.88 1,382.85 58,167.96
1,832.14 1,832.14 1,856.81 1,772.04 2,073.04 1,331.56 57,660.59
1,761.13 1,761.13 1,784.85 1,703.36 1,992.69 1,279.96 57,150.27
1,689.68 1,689.68 1,712.43 1,634.25 1,911.85 1,228.03 0.00
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- -----------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- -----------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- -----------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- -----------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
22,953.38 12,883.61 12,133.16 26,286.57 0.00 39,534.15
22,836.61 12,543.36 12,059.18 26,113.42 0.00 39,091.88
22,719.08 12,200.91 11,984.72 25,939.15 0.00 38,647.51
22,600.78 11,856.27 11,909.78 25,763.75 0.00 38,200.69
22,481.71 11,509.41 11,834.35 25,587.20 0.00 37,751.39
22,361.87 11,160.32 11,758.43 25,409.52 0.00 37,299.61
22,241.25 10,808.99 11,682.01 25,230.68 0.00 36,845.33
22,119.85 10,455.40 11,605.10 25,050.68 0.00 36,388.53
21,997.65 10,099.55 11,527.69 24,869.51 0.00 35,929.21
21,874.66 9,741.40 11,449.78 24,687.16 0.00 35,467.35
21,750.87 9,380.95 11,371.36 24,503.63 0.00 35,002.93
21,626.27 9,018.19 11,292.43 24,318.91 0.00 34,535.93
21,500.86 8,653.10 11,212.98 24,132.99 0.00 34,066.36
21,374.64 8,285.66 11,133.02 23,945.86 0.00 33,594.19
21,247.59 7,915.86 11,052.54 23,757.52 0.00 33,119.78
21,119.72 7,543.68 10,971.54 23,567.96 0.00 32,642.75
20,991.02 7,169.12 10,890.01 23,377.16 0.00 32,163.08
20,861.47 6,792.14 10,807.95 23,185.13 0.00 31,680.76
20,731.09 6,412.75 10,725.36 22,991.85 0.00 31,195.76
20,599.85 6,030.91 10,642.23 22,797.31 0.00 30,708.08
20,467.76 5,646.63 10,558.56 22,601.51 0.00 30,217.71
20,334.82 5,259.87 10,474.35 22,404.45 0.00 29,724.62
20,201.00 4,870.63 10,389.59 22,206.10 0.00 29,228.80
20,066.32 4,478.89 10,304.28 22,006.46 0.00 28,730.24
19,930.76 4,084.63 10,218.41 21,805.53 0.00 28,228.92
19,794.31 3,687.84 10,131.99 21,603.29 0.00 27,724.83
19,656.98 3,288.50 10,045.00 21,399.74 0.00 27,218.34
19,518.76 2,886.59 9,957.45 21,194.87 0.00 26,709.05
19,379.63 2,482.11 9,869.33 20,988.67 0.00 26,196.95
19,239.60 2,075.02 9,780.64 20,781.13 0.00 25,682.01
19,098.66 1,665.32 9,691.37 20,572.25 0.00 25,164.22
18,956.80 1,252.98 9,601.52 20,362.01 0.00 24,643.56
18,814.02 838.00 9,511.09 20,150.40 0.00 24,120.03
18,670.31 420.34 9,420.06 19,937.42 0.00 23,593.60
18,525.66 0.00 9,328.45 19,723.05 0.00 23,064.25
18,380.07 0.00 9,236.24 19,507.30 0.00 22,531.98
18,233.54 0.00 9,143.43 19,290.14 0.00 21,996.76
18,086.05 0.00 9,050.02 19,071.58 0.00 21,458.58
17,937.60 0.00 8,956.00 18,851.60 0.00 20,917.84
17,788.19 0.00 8,861.37 18,630.18 0.00 20,374.10
17,637.80 0.00 8,766.13 18,407.33 0.00 19,827.36
17,486.43 0.00 8,670.26 18,183.04 0.00 19,277.59
17,334.08 0.00 8,573.78 17,957.29 0.00 18,724.79
17,180.74 0.00 8,476.66 17,730.07 0.00 18,168.92
17,026.39 0.00 8,378.92 17,501.37 0.00 17,609.97
16,871.05 0.00 8,280.54 17,271.20 0.00 17,047.94
16,714.69 0.00 8,181.52 17,039.53 0.00 16,482.79
16,557.32 0.00 8,081.85 16,806.35 0.00 15,914.52
16,398.92 0.00 7,981.54 16,571.66 0.00 15,343.10
16,239.49 0.00 7,880.58 16,335.45 0.00 14,768.52
16,079.02 0.00 7,778.96 16,097.70 0.00 14,191.20
15,917.51 0.00 7,676.68 15,858.41 0.00 13,610.68
15,754.95 0.00 7,573.73 15,617.57 0.00 13,026.96
15,591.33 0.00 7,470.12 15,375.16 0.00 12,440.00
15,426.64 0.00 7,365.83 15,131.18 0.00 11,849.79
15,260.88 0.00 7,260.86 14,885.62 0.00 11,256.32
15,094.05 0.00 7,155.21 14,638.46 0.00 10,659.57
14,926.13 0.00 7,048.88 14,389.70 0.00 10,059.51
14,757.11 0.00 6,941.85 14,139.32 0.00 9,456.13
14,587.00 0.00 6,834.13 13,887.32 0.00 8,849.42
14,415.77 0.00 6,725.71 13,633.68 0.00 8,239.35
14,243.44 0.00 6,616.58 13,378.40 0.00 7,625.90
14,069.98 0.00 6,506.75 13,121.45 0.00 7,009.51
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- -----------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- -----------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- -----------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- -----------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
141,787.64 0.00 0.00 0.00 17,533.80
139,695.42 0.00 0.00 0.00 17,277.89
137,587.50 0.00 0.00 0.00 17,020.09
135,463.77 0.00 0.00 0.00 16,760.40
133,324.12 0.00 0.00 0.00 16,498.81
131,168.42 0.00 0.00 0.00 16,235.29
128,996.55 0.00 0.00 0.00 15,969.84
126,808.39 0.00 0.00 0.00 15,702.43
124,603.82 0.00 0.00 0.00 15,433.84
122,382.72 0.00 0.00 0.00 15,163.27
120,144.95 0.00 0.00 0.00 14,890.71
117,890.41 0.00 0.00 0.00 14,616.16
115,618.95 0.00 0.00 0.00 14,339.58
113,330.46 0.00 0.00 0.00 14,060.97
111,024.81 0.00 0.00 0.00 13,780.32
108,701.86 0.00 0.00 0.00 13,497.60
106,361.50 0.00 0.00 0.00 13,212.80
104,003.57 0.00 0.00 0.00 12,925.91
101,627.97 0.00 0.00 0.00 12,636.92
99,234.55 0.00 0.00 0.00 12,345.80
96,823.17 0.00 0.00 0.00 12,053.36
94,393.71 0.00 0.00 0.00 11,758.76
91,946.03 0.00 0.00 0.00 11,462.00
89,480.00 0.00 0.00 0.00 11,163.07
86,995.46 0.00 0.00 0.00 10,861.93
84,492.30 0.00 0.00 0.00 10,558.58
81,970.36 0.00 0.00 0.00 10,253.01
79,429.50 0.00 0.00 0.00 9,945.19
76,869.59 0.00 0.00 0.00 9,635.10
74,290.48 0.00 0.00 0.00 9,322.74
71,692.03 0.00 0.00 0.00 9,008.08
69,074.09 0.00 0.00 0.00 8,691.11
66,436.51 0.00 0.00 0.00 8,372.67
63,779.15 0.00 0.00 0.00 8,051.89
61,101.86 0.00 0.00 0.00 7,728.75
58,404.49 0.00 0.00 0.00 7,403.23
55,686.89 0.00 0.00 0.00 7,075.32
52,948.91 0.00 0.00 0.00 6,745.01
50,190.40 0.00 0.00 0.00 6,412.26
47,411.19 0.00 0.00 0.00 6,077.08
44,611.15 0.00 0.00 0.00 5,739.42
41,790.10 0.00 0.00 0.00 5,399.29
38,947.89 0.00 0.00 0.00 5,056.66
36,084.37 0.00 0.00 0.00 4,711.51
33,199.37 0.00 0.00 0.00 4,364.72
30,292.73 0.00 0.00 0.00 4,015.39
27,364.29 0.00 0.00 0.00 3,663.48
24,413.89 0.00 0.00 0.00 3,309.00
21,441.36 0.00 0.00 0.00 2,951.90
18,446.54 0.00 0.00 0.00 2,592.19
15,429.26 0.00 0.00 0.00 2,229.82
12,389.35 0.00 0.00 0.00 1,864.80
9,326.63 0.00 0.00 0.00 1,497.10
6,240.95 0.00 0.00 0.00 1,126.69
3,132.13 0.00 0.00 0.00 753.56
0.00 0.00 0.00 0.00 377.69
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 16
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ----------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ----------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1,617.78 1,617.78 1,639.57 1,564.72 1,830.50 1,175.77 0.00
1,545.44 1,545.44 1,566.25 1,494.74 1,748.64 1,123.20 0.00
1,472.64 1,472.64 1,492.47 1,424.34 1,666.27 1,070.29 0.00
1,399.39 1,399.39 1,418.24 1,353.49 1,583.39 1,017.05 0.00
1,325.69 1,325.69 1,343.54 1,282.20 1,500.00 963.48 0.00
1,251.52 1,251.52 1,268.37 1,210.47 1,416.08 909.58 0.00
1,176.89 1,176.89 1,192.74 1,138.29 1,331.64 855.34 0.00
1,101.80 1,101.80 1,116.64 1,065.66 1,246.67 800.77 0.00
1,026.24 1,026.24 1,040.06 992.58 1,161.18 745.85 0.00
950.21 950.21 963.00 919.04 1,075.15 690.59 0.00
873.70 873.70 885.47 845.04 988.58 634.99 0.00
796.72 796.72 807.45 770.59 901.48 579.04 0.00
719.26 719.26 728.94 695.66 813.83 522.74 0.00
641.31 641.31 649.95 620.28 725.63 466.09 0.00
562.88 562.88 570.46 544.42 636.89 409.09 0.00
483.96 483.96 490.48 468.09 547.59 351.73 0.00
404.55 404.55 410.00 391.28 457.74 294.02 0.00
324.64 324.64 329.01 313.99 367.33 235.94 0.00
244.24 244.24 247.52 236.22 276.35 177.51 0.00
163.33 163.33 165.53 157.97 184.80 118.70 0.00
81.92 81.92 83.02 79.23 92.69 59.54 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- -----------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- -----------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- -----------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- -----------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
13,895.39 0.00 6,396.20 12,862.84 0.00 6,389.72
13,719.67 0.00 6,284.93 12,602.55 0.00 5,766.50
13,542.80 0.00 6,172.94 12,340.58 0.00 5,139.83
13,364.78 0.00 6,060.22 12,076.90 0.00 4,509.69
13,185.61 0.00 5,946.76 11,811.50 0.00 3,876.06
13,005.26 0.00 5,832.57 11,544.39 0.00 3,238.93
12,823.75 0.00 5,717.64 11,275.54 0.00 2,598.27
12,641.05 0.00 5,601.96 11,004.95 0.00 1,954.07
12,457.16 0.00 5,485.53 10,732.60 0.00 1,306.31
12,272.08 0.00 5,368.34 10,458.48 0.00 654.96
12,085.79 0.00 5,250.40 10,182.58 0.00 0.00
11,898.29 0.00 5,131.68 9,904.89 0.00 0.00
11,709.57 0.00 5,012.19 9,625.40 0.00 0.00
11,519.62 0.00 4,891.93 9,344.10 0.00 0.00
11,328.43 0.00 4,770.88 9,060.97 0.00 0.00
11,136.00 0.00 4,649.05 8,776.00 0.00 0.00
10,942.32 0.00 4,526.42 8,489.18 0.00 0.00
10,747.38 0.00 4,403.00 8,200.50 0.00 0.00
10,551.17 0.00 4,278.78 7,909.94 0.00 0.00
10,353.68 0.00 4,153.74 7,617.50 0.00 0.00
10,154.90 0.00 4,027.90 7,323.16 0.00 0.00
9,954.84 0.00 3,901.24 7,026.91 0.00 0.00
9,753.47 0.00 3,773.75 6,728.73 0.00 0.00
9,550.79 0.00 3,645.44 6,428.62 0.00 0.00
9,346.79 0.00 3,516.29 6,126.57 0.00 0.00
9,141.46 0.00 3,386.30 5,822.55 0.00 0.00
8,934.80 0.00 3,255.47 5,516.55 0.00 0.00
8,726.79 0.00 3,123.78 5,208.58 0.00 0.00
8,517.42 0.00 2,991.25 4,898.60 0.00 0.00
8,306.70 0.00 2,857.84 4,586.61 0.00 0.00
8,094.60 0.00 2,723.58 4,272.59 0.00 0.00
7,881.13 0.00 2,588.44 3,956.54 0.00 0.00
7,666.26 0.00 2,452.42 3,638.43 0.00 0.00
7,450.00 0.00 2,315.51 3,318.26 0.00 0.00
7,232.32 0.00 2,177.72 2,996.01 0.00 0.00
7,013.23 0.00 2,039.03 2,671.67 0.00 0.00
6,792.72 0.00 1,899.44 2,345.22 0.00 0.00
6,570.77 0.00 1,758.95 2,016.66 0.00 0.00
6,347.37 0.00 1,617.53 1,685.96 0.00 0.00
6,122.53 0.00 1,475.20 1,353.11 0.00 0.00
5,896.21 0.00 1,331.95 1,018.11 0.00 0.00
5,668.43 0.00 1,187.76 680.92 0.00 0.00
5,439.16 0.00 1,042.64 341.55 0.00 0.00
5,208.40 0.00 896.57 0.00 0.00 0.00
4,976.14 0.00 749.56 0.00 0.00 0.00
4,742.37 0.00 601.59 0.00 0.00 0.00
4,507.08 0.00 452.65 0.00 0.00 0.00
4,270.25 0.00 302.75 0.00 0.00 0.00
4,031.88 0.00 151.87 0.00 0.00 0.00
3,791.96 0.00 0.00 0.00 0.00 0.00
3,550.48 0.00 0.00 0.00 0.00 0.00
3,307.43 0.00 0.00 0.00 0.00 0.00
3,062.80 0.00 0.00 0.00 0.00 0.00
2,816.57 0.00 0.00 0.00 0.00 0.00
2,568.75 0.00 0.00 0.00 0.00 0.00
2,319.31 0.00 0.00 0.00 0.00 0.00
2,068.24 0.00 0.00 0.00 0.00 0.00
1,815.54 0.00 0.00 0.00 0.00 0.00
1,561.20 0.00 0.00 0.00 0.00 0.00
1,305.20 0.00 0.00 0.00 0.00 0.00
1,047.54 0.00 0.00 0.00 0.00 0.00
788.20 0.00 0.00 0.00 0.00 0.00
527.17 0.00 0.00 0.00 0.00 0.00
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- -----------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- -----------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- -----------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- -----------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 17
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ----------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ----------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ----------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- -----------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- -----------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- -----------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- -----------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
264.44 0.00 0.00 0.00 0.00 0.00
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- -----------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- -----------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- -----------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- -----------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 18
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- -----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- -----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- -----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- -----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
34,982.22 40,200.05 61,877.05 59,987.54 47,792.63 51,224.93 55,395.00
34,956.11 40,175.17 61,789.54 59,902.70 47,725.04 51,152.48 55,316.66
34,929.84 40,150.12 61,701.39 59,817.25 47,656.95 51,079.51 55,237.75
34,903.39 40,124.90 61,612.60 59,731.17 47,588.37 51,006.00 55,158.26
34,876.78 40,099.52 61,523.16 59,644.46 47,519.29 50,931.96 55,078.19
34,850.01 40,073.97 61,433.07 59,557.12 47,449.71 50,857.38 54,997.54
34,823.06 40,048.25 61,342.32 59,469.14 47,379.61 50,782.25 54,916.29
34,795.95 40,022.36 61,250.91 59,380.52 47,309.01 50,706.58 54,834.46
34,768.66 39,996.30 61,158.83 59,291.25 47,237.89 50,630.35 54,752.02
34,741.20 39,970.06 61,066.08 59,201.33 47,166.25 50,553.56 54,668.99
34,713.57 39,943.65 60,972.65 59,110.76 47,094.09 50,476.22 54,585.35
34,685.76 39,917.07 60,878.54 59,019.52 47,021.40 50,398.31 54,501.10
34,657.78 39,890.31 60,783.74 58,927.62 46,948.18 50,319.83 54,416.23
34,629.62 39,863.37 60,688.25 58,835.05 46,874.42 50,240.78 54,330.74
34,601.28 39,836.26 60,592.06 58,741.80 46,800.13 50,161.15 54,244.63
34,572.77 39,808.96 60,495.17 58,647.87 46,725.29 50,080.94 54,157.89
34,544.07 39,781.49 60,397.58 58,553.25 46,649.91 50,000.15 54,070.52
34,515.20 39,753.83 60,299.27 58,457.94 46,573.98 49,918.76 53,982.51
34,486.14 39,725.99 60,200.24 58,361.94 46,497.50 49,836.78 53,893.86
34,456.90 39,697.96 60,100.49 58,265.24 46,420.45 49,754.21 53,804.56
34,427.47 39,669.75 60,000.02 58,167.83 46,342.84 49,671.03 53,714.61
34,397.86 39,641.35 59,898.81 58,069.71 46,264.67 49,587.24 53,624.00
34,368.06 39,612.77 59,796.86 57,970.87 46,185.93 49,502.84 53,532.73
34,338.07 39,583.99 59,694.16 57,871.31 46,106.61 49,417.82 53,440.79
34,307.90 39,555.02 59,590.72 57,771.03 46,026.71 49,332.19 53,348.19
34,277.53 39,525.87 59,486.52 57,670.01 45,946.23 49,245.93 53,254.90
34,246.97 39,496.52 59,381.56 57,568.26 45,865.16 49,159.04 53,160.94
34,216.22 39,466.97 59,275.84 57,465.76 45,783.50 49,071.51 53,066.29
34,185.28 39,437.23 59,169.34 57,362.52 45,701.24 48,983.35 52,970.95
34,154.14 39,407.29 59,062.06 57,258.52 45,618.39 48,894.54 52,874.91
34,122.80 39,377.15 58,954.01 57,153.76 45,534.93 48,805.09 52,778.17
34,091.27 39,346.82 58,845.16 57,048.24 45,450.86 48,714.98 52,680.73
34,059.54 39,316.28 58,735.52 56,941.94 45,366.17 48,624.21 52,582.57
34,027.60 39,285.54 58,625.08 56,834.87 45,280.87 48,532.78 52,483.70
33,995.47 39,254.60 58,513.83 56,727.02 45,194.94 48,440.68 52,384.11
33,963.13 39,223.45 58,401.77 56,618.38 45,108.39 48,347.92 52,283.79
33,930.59 39,192.09 58,288.89 56,508.95 45,021.20 48,254.47 52,182.73
33,897.84 39,160.53 58,175.19 56,398.72 44,933.38 48,160.34 52,080.94
33,864.89 39,128.76 58,060.66 56,287.69 44,844.92 48,065.53 51,978.41
33,831.73 39,096.78 57,945.29 56,175.84 44,755.81 47,970.02 51,875.12
33,798.36 39,064.58 57,829.08 56,063.18 44,666.05 47,873.81 51,771.09
33,764.78 39,032.17 57,712.02 55,949.70 44,575.64 47,776.91 51,666.29
33,730.98 38,999.55 57,594.11 55,835.39 44,484.57 47,679.29 51,560.73
33,684.59 38,966.71 57,475.33 55,720.24 44,392.83 47,580.96 51,454.40
33,637.90 38,933.66 57,355.69 55,604.25 44,300.42 47,481.92 51,347.29
33,590.92 38,900.38 57,235.18 55,487.42 44,207.34 47,382.15 51,239.40
33,543.64 38,866.89 57,113.78 55,369.73 44,113.57 47,281.66 51,130.72
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
42,645.83 26,220.55 22,873.25 18,410.18 18,968.06 16,178.64 22,315.36
42,585.52 26,186.12 22,843.21 18,386.00 18,943.15 16,157.39 22,286.06
42,524.76 26,151.49 22,813.00 18,361.69 18,918.10 16,136.03 22,256.59
42,463.57 26,116.67 22,782.63 18,337.24 18,892.91 16,114.54 22,226.95
42,401.93 26,081.65 22,752.08 18,312.65 18,867.58 16,092.93 22,197.15
42,339.84 26,046.44 22,721.36 18,287.93 18,842.11 16,071.21 22,167.18
42,277.29 26,011.03 22,690.47 18,263.06 18,816.49 16,049.36 22,137.05
42,214.29 25,975.42 22,659.41 18,238.06 18,790.73 16,027.38 22,106.74
42,150.83 25,939.61 22,628.17 18,212.92 18,764.82 16,005.29 22,076.26
42,086.90 25,903.59 22,596.75 18,187.63 18,738.77 15,983.07 22,045.61
42,022.51 25,867.38 22,565.16 18,162.21 18,712.58 15,960.73 22,014.79
41,957.65 25,830.96 22,533.39 18,136.64 18,686.23 15,938.26 21,983.80
41,892.32 25,794.34 22,501.45 18,110.92 18,659.74 15,915.66 21,952.63
41,826.51 25,757.52 22,469.32 18,085.07 18,633.10 15,892.94 21,921.29
41,760.21 25,720.48 22,437.02 18,059.06 18,606.31 15,870.09 21,889.77
41,693.44 25,683.24 22,404.53 18,032.92 18,579.37 15,847.11 21,858.08
41,626.17 25,645.79 22,371.86 18,006.62 18,552.27 15,824.00 21,826.21
41,558.42 25,608.13 22,339.01 17,980.18 18,525.03 15,800.76 21,794.15
41,490.17 25,570.26 22,305.97 17,953.59 18,497.63 15,777.39 21,761.92
41,421.42 25,532.17 22,272.74 17,926.85 18,470.08 15,753.89 21,729.51
41,352.17 25,493.87 22,239.33 17,899.95 18,442.38 15,730.26 21,696.91
41,282.42 25,455.36 22,205.74 17,872.91 18,414.51 15,706.50 21,664.13
41,212.15 25,416.62 22,171.95 17,845.72 18,386.50 15,682.60 21,631.17
41,141.38 25,377.68 22,137.97 17,818.37 18,358.32 15,658.57 21,598.02
41,070.08 25,338.51 22,103.81 17,790.87 18,329.99 15,634.40 21,564.69
40,998.27 25,299.12 22,069.45 17,763.22 18,301.49 15,610.10 21,531.17
40,925.93 25,259.51 22,034.90 17,735.41 18,272.84 15,585.66 21,497.46
40,853.07 25,219.68 22,000.15 17,707.44 18,244.03 15,561.08 21,463.56
40,779.67 25,179.63 21,965.21 17,679.32 18,215.05 15,536.37 21,429.47
40,705.73 25,139.35 21,930.07 17,651.04 18,185.91 15,511.51 21,395.19
40,631.26 25,098.85 21,894.74 17,622.60 18,156.61 15,486.52 21,360.72
40,556.24 25,058.11 21,859.20 17,594.00 18,127.15 15,461.39 21,326.05
40,480.68 25,017.15 21,823.47 17,565.24 18,097.52 15,436.11 21,291.19
40,404.56 24,975.96 21,787.54 17,536.31 18,067.72 15,410.70 21,256.14
40,327.89 24,934.54 21,751.40 17,507.23 18,037.75 15,385.14 21,220.88
40,250.66 24,892.88 21,715.07 17,477.98 18,007.62 15,359.44 21,185.43
40,172.86 24,850.99 21,678.52 17,448.57 17,977.31 15,333.59 21,149.78
40,094.50 24,808.87 21,641.78 17,418.99 17,946.84 15,307.60 21,113.93
40,015.56 24,766.51 21,604.82 17,389.25 17,916.20 15,281.46 21,077.88
39,936.05 24,723.91 21,567.66 17,359.34 17,885.38 15,255.18 21,041.62
39,855.96 24,681.07 21,530.29 17,329.26 17,854.39 15,228.74 21,005.17
39,775.28 24,637.99 21,492.71 17,299.02 17,823.23 15,202.16 20,968.50
39,694.01 24,594.67 21,454.92 17,268.60 17,791.89 15,175.43 20,931.63
39,612.15 24,551.10 21,416.92 17,238.01 17,760.37 15,148.55 20,894.56
39,529.70 24,507.29 21,378.70 17,207.25 17,728.68 15,121.52 20,857.27
39,446.64 24,463.24 21,340.27 17,176.32 17,696.81 15,094.34 20,819.78
39,362.97 24,418.94 21,301.63 17,145.21 17,664.76 15,067.00 20,782.08
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- ------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
12,831.33 11,603.99 15,899.70 11,436.62 13,110.27
12,814.48 11,588.75 15,878.82 11,421.60 13,093.06
12,797.54 11,573.43 15,857.82 11,406.50 13,075.74
12,780.50 11,558.02 15,836.70 11,391.31 13,058.33
12,763.36 11,542.52 15,815.47 11,376.04 13,040.83
12,746.13 11,526.94 15,794.12 11,360.68 13,023.22
12,728.80 11,511.26 15,772.64 11,345.23 13,005.51
12,711.37 11,495.51 15,751.05 11,329.70 12,987.71
12,693.85 11,479.66 15,729.34 11,314.08 12,969.80
12,676.23 11,463.72 15,707.50 11,298.37 12,951.80
12,658.51 11,447.69 15,685.54 11,282.58 12,933.69
12,640.69 11,431.58 15,663.46 11,266.69 12,915.48
12,622.76 11,415.37 15,641.25 11,250.72 12,897.17
12,604.74 11,399.07 15,618.92 11,234.66 12,878.76
12,586.62 11,382.68 15,596.46 11,218.50 12,860.24
12,568.39 11,366.20 15,573.88 11,202.26 12,841.62
12,550.07 11,349.63 15,551.17 11,185.93 12,822.89
12,531.64 11,332.96 15,528.33 11,169.50 12,804.06
12,513.10 11,316.20 15,505.37 11,152.98 12,785.13
12,494.47 11,299.35 15,482.27 11,136.37 12,766.08
12,475.72 11,282.40 15,459.05 11,119.66 12,746.94
12,456.88 11,265.35 15,435.70 11,102.86 12,727.68
12,437.92 11,248.21 15,412.21 11,085.97 12,708.31
12,418.86 11,230.97 15,388.59 11,068.98 12,688.84
12,399.70 11,213.64 15,364.84 11,051.90 12,669.25
12,380.42 11,196.21 15,340.96 11,034.72 12,649.56
12,361.04 11,178.68 15,316.94 11,017.44 12,629.76
12,341.55 11,161.05 15,292.79 11,000.07 12,609.84
12,321.95 11,143.33 15,268.50 10,982.60 12,589.81
12,302.24 11,125.50 15,244.08 10,965.03 12,569.68
12,282.41 11,107.58 15,219.51 10,947.36 12,549.42
12,262.48 11,089.55 15,194.81 10,929.60 12,529.06
12,242.44 11,071.42 15,169.98 10,911.73 12,508.58
12,222.28 11,053.19 15,145.00 10,893.77 12,487.98
12,202.01 11,034.86 15,119.88 10,875.70 12,467.27
12,181.62 11,016.43 15,094.62 10,857.53 12,446.44
12,161.12 10,997.89 15,069.22 10,839.26 12,425.50
12,140.51 10,979.25 15,043.68 10,820.88 12,404.43
12,119.78 10,960.50 15,017.99 10,802.41 12,383.25
12,098.93 10,941.65 14,992.16 10,783.83 12,361.95
12,077.97 10,922.69 14,966.18 10,765.14 12,340.53
12,056.89 10,903.62 14,940.06 10,746.35 12,318.99
12,035.69 10,884.45 14,913.79 10,727.46 12,297.33
12,014.37 10,865.17 14,887.37 10,708.46 12,275.55
11,992.93 10,845.78 14,860.81 10,689.35 12,253.65
11,971.37 10,826.29 14,834.09 10,670.13 12,231.62
11,949.69 10,806.68 14,807.23 10,650.81 12,209.47
</TABLE>
Page 19
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- -----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- -----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- -----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- -----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
33,496.07 38,833.17 56,991.50 55,251.18 44,019.13 47,180.43 51,021.25
33,448.19 38,799.23 56,868.33 55,131.77 43,923.99 47,078.46 50,910.98
33,400.01 38,765.07 56,744.26 55,011.49 43,828.16 46,975.74 50,799.91
33,351.53 38,730.67 56,619.28 54,890.33 43,731.63 46,872.28 50,688.02
33,302.74 38,696.05 56,493.39 54,768.28 43,634.39 46,768.06 50,575.32
33,253.65 38,661.21 56,366.58 54,645.34 43,536.45 46,663.08 50,461.80
33,204.24 38,626.13 56,238.84 54,521.51 43,437.79 46,557.34 50,347.44
33,154.52 38,590.81 56,110.18 54,396.77 43,338.41 46,450.82 50,232.25
33,104.49 38,555.27 55,980.57 54,271.12 43,238.30 46,343.53 50,116.22
33,054.14 38,504.64 55,850.02 54,144.56 43,137.47 46,235.45 49,999.35
33,003.48 38,453.67 55,718.51 54,017.07 43,035.89 46,126.58 49,881.62
32,952.49 38,402.36 55,586.05 53,888.65 42,933.58 46,016.92 49,763.03
32,901.19 38,350.71 55,452.61 53,759.29 42,830.52 45,906.46 49,643.57
32,849.56 38,298.73 55,318.21 53,628.98 42,726.71 45,795.19 49,523.25
32,797.60 38,246.39 55,182.82 53,497.73 42,622.13 45,683.11 49,402.04
32,745.32 38,193.71 55,046.44 53,365.52 42,516.80 45,570.21 49,279.95
32,692.71 38,140.68 54,909.07 53,232.34 42,410.70 45,456.48 49,156.97
32,639.76 38,087.30 54,770.70 53,098.19 42,303.82 45,341.93 49,033.09
32,586.48 38,033.57 54,631.31 52,963.06 42,196.16 45,226.54 48,908.31
32,532.87 37,979.48 54,490.91 52,826.95 42,087.72 45,110.31 48,782.61
32,478.92 37,925.03 54,349.48 52,689.84 41,978.48 44,993.23 48,656.00
32,424.62 37,870.23 54,207.02 52,551.73 41,868.45 44,875.29 48,528.47
32,369.98 37,815.05 54,063.52 52,412.61 41,757.61 44,756.50 48,400.00
32,315.00 37,759.52 53,918.97 52,272.48 41,645.97 44,636.83 48,270.59
32,259.68 37,703.61 53,773.37 52,131.32 41,533.51 44,516.30 48,140.25
32,204.00 37,647.34 53,626.71 51,989.14 41,420.22 44,394.88 48,008.94
32,147.97 37,590.69 53,478.97 51,845.91 41,306.12 44,272.58 47,876.68
32,091.59 37,533.66 53,330.16 51,701.64 41,191.17 44,149.38 47,743.46
32,034.85 37,476.26 53,180.26 51,556.32 41,075.39 44,025.29 47,609.26
31,977.76 37,418.48 53,029.26 51,409.93 40,958.77 43,900.28 47,474.08
31,920.30 37,360.32 52,877.16 51,262.48 40,841.29 43,774.37 47,337.92
31,862.48 37,301.77 52,723.96 51,113.95 40,722.96 43,647.54 47,200.76
31,804.30 37,242.83 52,569.63 50,964.34 40,603.76 43,519.78 47,062.60
31,745.75 37,183.50 52,414.18 50,813.63 40,483.69 43,391.09 46,923.43
31,686.83 37,123.78 52,257.59 50,661.83 40,362.74 43,261.46 46,783.25
31,627.54 37,063.66 52,099.86 50,508.91 40,240.92 43,130.88 46,642.04
31,567.87 37,003.15 51,940.98 50,354.88 40,118.20 42,999.35 46,499.81
31,507.83 36,942.23 51,780.93 50,199.73 39,994.59 42,866.86 46,356.53
31,447.41 36,880.91 51,619.72 50,043.44 39,870.07 42,733.40 46,212.21
31,386.61 36,819.19 51,457.34 49,886.01 39,744.65 42,598.97 46,066.83
31,325.42 36,757.05 51,293.77 49,727.44 39,618.31 42,463.55 45,920.39
31,263.85 36,694.51 51,129.00 49,567.70 39,491.04 42,327.15 45,772.89
31,201.89 36,631.54 50,963.03 49,406.80 39,362.85 42,189.75 45,624.31
31,139.54 36,568.17 50,795.85 49,244.72 39,233.73 42,051.35 45,474.64
31,076.80 36,504.37 50,627.45 49,081.47 39,103.66 41,911.94 45,323.88
31,013.66 36,440.15 50,457.82 48,917.01 38,972.64 41,771.51 45,172.02
30,950.12 36,375.50 50,286.95 48,751.36 38,840.66 41,630.06 45,019.05
30,886.18 36,310.43 50,114.83 48,584.50 38,707.72 41,487.57 44,864.96
30,821.84 36,244.92 49,941.46 48,416.42 38,573.81 41,344.05 44,709.75
30,757.09 36,178.98 49,766.82 48,247.12 38,438.92 41,199.47 44,553.41
30,691.93 36,112.61 49,590.91 48,076.58 38,303.05 41,053.84 44,395.92
30,626.36 36,045.79 49,413.71 47,904.79 38,166.19 40,907.15 44,237.29
30,560.38 35,978.53 49,235.22 47,731.75 38,028.33 40,759.39 44,077.50
30,493.98 35,910.83 49,055.43 47,557.45 37,889.46 40,610.54 43,916.54
30,427.17 35,842.68 48,874.32 47,381.87 37,749.57 40,460.62 43,754.40
30,359.93 35,774.07 48,691.89 47,205.01 37,608.67 40,309.59 43,591.08
30,279.26 35,705.01 48,508.13 47,026.87 37,466.74 40,157.47 43,426.57
30,198.08 35,635.50 48,323.03 46,847.42 37,323.77 40,004.23 43,260.86
30,116.39 35,565.52 48,136.58 46,666.66 37,179.76 39,849.88 43,093.94
30,034.18 35,495.08 47,948.76 46,484.58 37,034.69 39,694.39 42,925.80
29,951.45 35,424.17 47,759.58 46,301.17 36,888.57 39,537.78 42,756.44
29,868.20 35,352.80 47,569.01 46,116.42 36,741.38 39,380.02 42,585.83
29,784.43 35,280.95 47,377.05 45,930.33 36,593.12 39,221.10 42,413.99
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
39,278.70 24,374.39 21,262.76 17,113.93 17,632.54 15,039.52 20,744.16
39,193.81 24,329.58 21,223.68 17,082.48 17,600.13 15,011.87 20,706.03
39,108.29 24,284.53 21,184.38 17,050.84 17,567.54 14,984.07 20,667.69
39,022.16 24,239.23 21,144.86 17,019.03 17,534.76 14,956.12 20,629.13
38,935.40 24,193.67 21,105.11 16,987.04 17,501.80 14,928.01 20,590.36
38,848.00 24,147.85 21,065.15 16,954.88 17,468.66 14,899.74 20,551.36
38,759.96 24,101.78 21,024.95 16,922.53 17,435.33 14,871.31 20,512.15
38,671.29 24,055.44 20,984.54 16,890.00 17,401.81 14,842.72 20,472.72
38,581.96 24,008.85 20,943.89 16,857.28 17,368.11 14,813.97 20,433.07
38,491.98 23,962.00 20,903.02 16,824.38 17,334.21 14,785.06 20,393.19
38,401.35 23,914.88 20,861.92 16,791.30 17,300.13 14,755.99 20,353.09
38,310.05 23,867.50 20,820.58 16,758.03 17,265.85 14,726.75 20,312.77
38,218.09 23,819.85 20,779.02 16,724.58 17,231.38 14,697.36 20,272.21
38,125.46 23,771.94 20,737.22 16,690.94 17,196.72 14,667.79 20,231.44
38,032.15 23,723.75 20,695.19 16,657.10 17,161.86 14,638.06 20,190.43
37,938.16 23,675.30 20,652.92 16,623.08 17,126.81 14,608.16 20,149.19
37,843.48 23,626.57 20,610.41 16,588.87 17,091.56 14,578.10 20,107.72
37,748.11 23,577.57 20,567.67 16,554.46 17,056.11 14,547.86 20,066.02
37,652.05 23,528.29 20,524.68 16,519.87 17,020.47 14,517.46 20,024.08
37,555.28 23,478.74 20,481.45 16,485.07 16,984.62 14,486.88 19,981.91
37,457.81 23,428.91 20,437.98 16,450.09 16,948.57 14,456.13 19,939.50
37,359.63 23,378.80 20,394.27 16,414.90 16,912.32 14,425.22 19,896.85
37,260.73 23,328.40 20,350.31 16,379.52 16,875.87 14,394.12 19,853.96
37,161.10 23,277.73 20,306.10 16,343.94 16,839.21 14,362.85 19,810.83
37,060.75 23,226.77 20,261.65 16,308.16 16,802.34 14,331.41 19,767.46
36,959.67 23,175.52 20,216.95 16,272.18 16,765.27 14,299.79 19,723.85
36,857.85 23,123.99 20,171.99 16,235.99 16,727.99 14,267.99 19,679.99
36,755.29 23,072.17 20,126.78 16,199.61 16,690.50 14,236.02 19,635.89
36,651.98 23,020.05 20,081.32 16,163.02 16,652.80 14,203.86 19,591.53
36,547.91 22,967.64 20,035.60 16,126.22 16,614.89 14,171.53 19,546.93
36,443.08 22,914.94 19,989.63 16,089.22 16,576.77 14,139.01 19,502.08
36,337.49 22,861.95 19,943.40 16,052.01 16,538.43 14,106.31 19,456.98
36,231.13 22,808.65 19,896.91 16,014.59 16,499.88 14,073.42 19,411.62
36,123.99 22,755.06 19,850.16 15,976.96 16,461.11 14,040.35 19,366.01
36,016.07 22,701.16 19,803.14 15,939.12 16,422.12 14,007.10 19,320.14
35,907.36 22,646.96 19,755.86 15,901.06 16,382.91 13,973.66 19,274.01
35,797.86 22,592.46 19,708.32 15,862.79 16,343.48 13,940.03 19,227.63
35,687.56 22,537.65 19,660.51 15,824.31 16,303.84 13,906.21 19,180.98
35,576.45 22,482.54 19,612.43 15,785.61 16,263.96 13,872.20 19,134.08
35,464.54 22,427.11 19,564.08 15,746.70 16,223.87 13,838.01 19,086.90
35,351.80 22,371.37 19,515.45 15,707.56 16,183.55 13,803.61 19,039.47
35,238.24 22,315.32 19,466.56 15,668.21 16,143.00 13,769.03 18,991.77
35,123.86 22,258.96 19,417.39 15,628.63 16,102.23 13,734.25 18,943.80
35,008.64 22,202.28 19,367.95 15,588.84 16,061.22 13,699.28 18,895.56
34,892.57 22,145.28 19,318.22 15,548.82 16,019.99 13,664.11 18,847.05
34,775.66 22,087.96 19,268.22 15,508.57 15,978.53 13,628.74 18,798.26
34,657.90 22,030.32 19,217.94 15,468.10 15,936.83 13,593.18 18,749.21
34,539.28 21,972.35 19,167.37 15,427.40 15,894.90 13,557.41 18,699.88
34,419.79 21,914.06 19,116.52 15,386.47 15,852.73 13,521.44 18,650.27
34,299.43 21,855.44 19,065.39 15,345.31 15,810.32 13,485.27 18,600.38
34,178.19 21,796.50 19,013.97 15,303.93 15,767.68 13,448.90 18,550.21
34,056.06 21,737.22 18,962.25 15,262.31 15,724.80 13,412.33 18,499.76
33,933.05 21,677.61 18,910.25 15,220.45 15,681.67 13,375.55 18,449.03
33,809.13 21,617.66 18,857.96 15,178.36 15,638.31 13,338.56 18,398.01
33,684.31 21,557.38 18,805.37 15,136.03 15,594.70 13,301.36 18,346.71
33,558.58 21,496.76 18,752.49 15,093.47 15,550.85 13,263.96 18,295.11
33,431.94 21,435.80 18,699.31 15,050.67 15,506.75 13,226.34 18,243.23
33,304.36 21,374.49 18,645.83 15,007.62 15,462.40 13,188.52 18,191.06
33,175.86 21,312.84 18,592.06 14,964.34 15,417.80 13,150.48 18,138.59
33,046.42 21,250.85 18,537.98 14,920.81 15,372.96 13,112.23 18,085.83
32,916.03 21,188.51 18,483.59 14,877.04 15,327.86 13,073.76 18,032.77
32,784.69 21,125.81 18,428.90 14,833.02 15,282.51 13,035.08 17,979.42
32,652.39 21,062.77 18,373.91 14,788.76 15,236.90 12,996.18 17,925.76
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- ------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
11,927.89 10,786.96 14,780.21 10,631.38 12,187.19
11,905.97 10,767.14 14,753.05 10,611.84 12,164.79
11,883.92 10,747.20 14,725.73 10,592.19 12,142.27
11,861.75 10,727.15 14,698.26 10,572.42 12,119.61
11,839.45 10,706.99 14,670.63 10,552.55 12,096.83
11,817.03 10,686.71 14,642.85 10,532.57 12,073.92
11,794.49 10,666.32 14,614.91 10,512.47 12,050.89
11,771.81 10,645.82 14,586.81 10,492.26 12,027.72
11,749.01 10,625.20 14,558.56 10,471.94 12,004.43
11,726.08 10,604.46 14,530.15 10,451.51 11,981.00
11,703.03 10,583.61 14,501.58 10,430.95 11,957.44
11,679.84 10,562.64 14,472.85 10,410.29 11,933.75
11,656.52 10,541.55 14,443.95 10,389.51 11,909.93
11,633.08 10,520.35 14,414.90 10,368.61 11,885.97
11,609.50 10,499.02 14,385.68 10,347.59 11,861.88
11,585.78 10,477.58 14,356.30 10,326.46 11,837.65
11,561.94 10,456.02 14,326.75 10,305.20 11,813.28
11,537.96 10,434.33 14,297.04 10,283.83 11,788.78
11,513.85 10,412.52 14,267.16 10,262.34 11,764.15
11,489.60 10,390.59 14,237.11 10,240.72 11,739.37
11,465.21 10,368.54 14,206.89 10,218.99 11,714.45
11,440.69 10,346.36 14,176.51 10,197.13 11,689.40
11,416.03 10,324.06 14,145.95 10,175.15 11,664.20
11,391.23 10,301.63 14,115.22 10,153.05 11,638.86
11,366.29 10,279.08 14,084.32 10,130.82 11,613.38
11,341.21 10,256.40 14,053.24 10,108.47 11,587.76
11,316.00 10,233.60 14,021.99 10,085.99 11,561.99
11,290.63 10,210.66 13,990.57 10,063.39 11,536.08
11,265.13 10,187.60 13,958.97 10,040.66 11,510.03
11,239.49 10,164.41 13,927.19 10,017.80 11,483.82
11,213.70 10,141.08 13,895.23 9,994.81 11,457.47
11,187.76 10,117.63 13,863.10 9,971.70 11,430.97
11,161.68 10,094.04 13,830.78 9,948.45 11,404.33
11,135.45 10,070.32 13,798.28 9,925.07 11,377.53
11,109.08 10,046.47 13,765.60 9,901.57 11,350.58
11,082.56 10,022.49 13,732.73 9,877.93 11,323.48
11,055.89 9,998.37 13,699.68 9,854.16 11,296.23
11,029.06 9,974.11 13,666.45 9,830.25 11,268.83
11,002.09 9,949.72 13,633.03 9,806.21 11,241.27
10,974.97 9,925.19 13,599.42 9,782.03 11,213.56
10,947.69 9,900.52 13,565.62 9,757.72 11,185.69
10,920.27 9,875.72 13,531.63 9,733.28 11,157.66
10,892.68 9,850.78 13,497.46 9,708.69 11,129.48
10,864.95 9,825.69 13,463.08 9,683.97 11,101.14
10,837.05 9,800.47 13,428.52 9,659.11 11,072.64
10,809.00 9,775.10 13,393.76 9,634.11 11,043.98
10,780.79 9,749.59 13,358.81 9,608.97 11,015.16
10,752.43 9,723.94 13,323.66 9,583.68 10,986.18
10,723.90 9,698.14 13,288.32 9,558.26 10,957.03
10,695.22 9,672.20 13,252.77 9,532.69 10,927.72
10,666.37 9,646.11 13,217.03 9,506.98 10,898.25
10,637.36 9,619.88 13,181.08 9,481.12 10,868.61
10,608.19 9,593.50 13,144.93 9,455.12 10,838.80
10,578.86 9,566.97 13,108.58 9,428.98 10,808.83
10,549.36 9,540.29 13,072.03 9,402.68 10,778.69
10,519.69 9,513.46 13,035.27 9,376.24 10,748.38
10,489.86 9,486.48 12,998.30 9,349.65 10,717.90
10,459.86 9,459.35 12,961.13 9,322.91 10,687.25
10,429.69 9,432.07 12,923.75 9,296.02 10,656.42
10,399.35 9,404.63 12,886.15 9,268.98 10,625.42
10,368.84 9,377.04 12,848.35 9,241.79 10,594.25
10,338.17 9,349.30 12,810.34 9,214.45 10,562.91
10,307.31 9,321.40 12,772.11 9,186.95 10,531.38
</TABLE>
Page 20
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- -----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- -----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- -----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- -----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29,700.13 35,208.62 47,183.70 45,742.87 36,443.77 39,061.03 42,240.88
29,615.30 35,135.82 46,988.93 45,554.05 36,293.33 38,899.79 42,066.52
29,529.93 35,062.53 46,792.73 45,363.85 36,141.80 38,737.38 41,890.88
29,444.02 34,988.76 46,595.11 45,172.26 35,989.16 38,573.77 41,713.96
29,357.57 34,914.50 46,396.04 44,979.27 35,835.40 38,408.97 41,535.74
29,270.58 34,839.74 46,195.52 44,784.88 35,680.52 38,242.97 41,356.23
29,183.03 34,749.64 45,993.54 44,589.06 35,524.52 38,075.76 41,175.40
29,094.94 34,658.94 45,790.08 44,391.82 35,367.37 37,907.33 40,993.26
29,006.29 34,567.65 45,585.14 44,193.13 35,209.07 37,737.67 40,809.79
28,917.08 34,475.74 45,378.70 43,993.00 35,049.62 37,566.77 40,624.97
28,827.30 34,383.23 45,170.75 43,791.40 34,889.01 37,394.62 40,438.81
28,736.96 34,290.11 44,961.29 43,588.33 34,727.22 37,221.21 40,251.29
28,646.05 34,196.37 44,750.30 43,383.78 34,564.26 37,046.54 40,062.40
28,554.57 34,102.00 44,537.76 43,177.74 34,400.10 36,870.60 39,872.13
28,462.51 34,007.02 44,323.68 42,970.19 34,234.75 36,693.36 39,680.47
28,369.86 33,911.40 44,108.03 42,761.13 34,068.18 36,514.84 39,487.41
28,276.64 33,815.15 43,890.81 42,550.54 33,900.40 36,335.01 39,292.95
28,182.82 33,718.26 43,672.00 42,338.41 33,731.40 36,153.87 39,097.06
28,088.42 33,620.73 43,451.59 42,124.74 33,561.16 35,971.41 38,899.74
27,993.42 33,522.55 43,229.58 41,909.50 33,389.69 35,787.62 38,700.99
27,897.81 33,423.73 43,005.94 41,692.69 33,216.95 35,602.48 38,500.78
27,801.61 33,324.24 42,780.68 41,474.31 33,042.96 35,415.99 38,299.11
27,704.80 33,224.10 42,553.76 41,254.32 32,867.70 35,228.14 38,095.97
27,607.38 33,123.30 42,325.20 41,032.73 32,691.16 35,038.92 37,891.34
27,509.34 33,021.83 42,094.96 40,809.53 32,513.33 34,848.32 37,685.23
27,410.68 32,919.68 41,863.04 40,584.69 32,334.20 34,656.33 37,477.60
27,311.41 32,816.86 41,629.43 40,358.22 32,153.76 34,462.93 37,268.46
27,211.50 32,713.36 41,394.11 40,130.08 31,972.01 34,268.13 37,057.80
27,110.97 32,609.17 41,157.08 39,900.29 31,788.93 34,071.90 36,845.60
27,009.80 32,504.30 40,918.32 39,668.82 31,604.51 33,874.24 36,631.84
26,907.99 32,398.72 40,677.81 39,435.65 31,418.75 33,675.13 36,416.53
26,805.54 32,292.45 40,435.55 39,200.79 31,231.63 33,474.58 36,199.65
26,702.45 32,185.48 40,191.51 38,964.21 31,043.14 33,272.55 35,981.18
26,598.70 32,077.79 39,945.70 38,725.90 30,853.28 33,069.06 35,761.12
26,494.30 31,969.39 39,698.09 38,485.86 30,662.04 32,864.08 35,539.45
26,389.24 31,860.28 39,448.68 38,244.06 30,469.39 32,657.60 35,316.16
26,283.52 31,750.44 39,197.44 38,000.49 30,275.34 32,449.61 35,091.24
26,177.13 31,639.87 38,944.37 37,755.15 30,079.88 32,240.11 34,864.69
26,070.07 31,528.57 38,689.46 37,508.02 29,882.98 32,029.08 34,636.47
25,962.33 31,416.53 38,432.68 37,259.08 29,684.65 31,816.50 34,406.59
25,853.92 31,303.75 38,174.03 37,008.33 29,484.88 31,602.38 34,175.04
25,744.82 31,190.23 37,913.49 36,755.74 29,283.64 31,386.69 33,941.79
25,635.03 31,075.95 37,651.04 36,501.31 29,080.93 31,169.42 33,706.84
25,524.55 30,960.91 37,386.69 36,245.03 28,876.75 30,950.58 33,470.18
25,413.37 30,845.12 37,120.40 35,986.87 28,671.07 30,730.13 33,231.78
25,301.49 30,728.55 36,852.17 35,726.83 28,463.90 30,508.07 32,991.65
25,188.90 30,611.22 36,581.98 35,464.89 28,255.21 30,284.40 32,749.76
25,075.61 30,493.10 36,309.81 35,201.04 28,044.99 30,059.09 32,506.11
24,961.60 30,374.20 36,035.66 34,935.26 27,833.25 29,832.13 32,260.68
24,846.87 30,254.52 35,759.51 34,667.54 27,619.95 29,603.52 32,013.46
24,731.42 30,134.04 35,481.35 34,397.87 27,405.10 29,373.24 31,764.43
24,615.23 30,012.77 35,201.15 34,126.23 27,188.68 29,141.28 31,513.59
24,498.32 29,890.69 34,918.91 33,852.61 26,970.68 28,907.62 31,260.91
24,367.01 29,767.80 34,634.60 33,576.99 26,751.09 28,672.26 31,006.39
24,234.87 29,644.10 34,348.23 33,299.35 26,529.90 28,435.19 30,750.02
24,101.90 29,519.58 34,059.76 33,019.69 26,307.09 28,196.38 30,491.77
23,968.09 29,394.23 33,769.18 32,737.99 26,082.66 27,955.82 30,231.63
23,833.43 29,268.05 33,476.49 32,454.23 25,856.59 27,713.52 29,969.60
23,697.92 29,141.04 33,181.65 32,168.40 25,628.86 27,469.44 29,705.65
23,561.56 29,013.19 32,884.67 31,880.49 25,399.48 27,223.58 29,439.78
23,424.34 28,884.49 32,585.52 31,590.47 25,168.42 26,975.93 29,171.96
23,286.26 28,754.93 32,284.18 31,298.33 24,935.67 26,726.46 28,902.19
23,147.30 28,624.52 31,980.64 31,004.07 24,701.23 26,475.18 28,630.45
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
32,519.13 20,999.37 18,318.60 14,744.24 15,191.04 12,957.06 17,871.81
32,384.90 20,935.62 18,262.98 14,699.48 15,144.92 12,917.72 17,817.55
32,249.68 20,871.50 18,207.06 14,654.46 15,098.54 12,878.16 17,762.98
32,113.48 20,807.03 18,150.81 14,609.19 15,051.90 12,838.38 17,708.11
31,976.28 20,742.20 18,094.26 14,563.67 15,004.99 12,798.38 17,652.93
31,838.08 20,677.00 18,037.38 14,517.89 14,957.83 12,758.15 17,597.44
31,698.87 20,611.43 17,980.18 14,471.86 14,910.40 12,717.69 17,541.64
31,558.65 20,545.50 17,922.67 14,425.56 14,862.70 12,677.01 17,485.53
31,417.40 20,479.19 17,864.83 14,379.01 14,814.74 12,636.10 17,429.10
31,275.12 20,412.52 17,806.66 14,332.20 14,766.50 12,594.96 17,372.36
31,131.81 20,345.47 17,748.17 14,285.12 14,718.00 12,553.59 17,315.29
30,987.44 20,278.04 17,689.35 14,237.78 14,669.22 12,511.98 17,257.91
30,842.02 20,210.23 17,630.21 14,190.17 14,620.17 12,470.15 17,200.20
30,695.55 20,142.05 17,570.72 14,142.29 14,570.84 12,428.07 17,142.17
30,548.00 20,073.48 17,510.91 14,094.15 14,521.24 12,385.76 17,083.81
30,399.37 20,004.52 17,450.76 14,045.73 14,471.36 12,343.22 17,025.13
30,249.66 19,935.18 17,390.27 13,997.05 14,421.20 12,300.43 16,966.11
30,098.86 19,865.45 17,329.44 13,948.09 14,370.75 12,257.41 16,906.77
29,946.96 19,795.33 17,268.27 13,898.85 14,320.03 12,214.14 16,847.09
29,793.94 19,724.81 17,206.75 13,849.34 14,269.01 12,170.63 16,787.08
29,639.81 19,653.90 17,144.89 13,799.55 14,217.72 12,126.87 16,726.72
29,484.56 19,582.59 17,082.68 13,749.48 14,166.13 12,082.87 16,666.03
29,328.17 19,510.88 17,020.13 13,699.13 14,114.25 12,038.63 16,605.00
29,170.64 19,438.76 16,957.22 13,648.50 14,062.09 11,994.13 16,543.63
29,011.96 19,366.25 16,893.96 13,597.58 14,009.63 11,949.39 16,481.91
28,852.12 19,293.32 16,830.34 13,546.38 13,956.87 11,904.39 16,419.85
28,691.12 19,219.98 16,766.37 13,494.88 13,903.82 11,859.14 16,357.43
28,528.94 19,146.24 16,702.04 13,443.10 13,850.47 11,813.64 16,294.67
28,365.57 19,072.07 16,637.34 13,391.03 13,796.82 11,767.88 16,231.55
28,201.01 18,997.50 16,572.28 13,338.67 13,742.87 11,721.86 16,168.08
28,035.26 18,922.50 16,506.86 13,286.01 13,688.62 11,675.58 16,104.26
27,868.29 18,847.08 16,441.07 13,233.06 13,634.06 11,629.05 16,040.07
27,700.10 18,771.24 16,374.91 13,179.81 13,579.20 11,582.25 15,975.52
27,530.69 18,694.97 16,308.38 13,126.26 13,524.02 11,535.20 15,910.61
27,360.03 18,618.28 16,241.47 13,072.41 13,468.54 11,487.87 15,845.34
27,188.14 18,541.15 16,174.19 13,018.26 13,412.75 11,440.28 15,779.70
27,014.98 18,463.59 16,106.54 12,963.80 13,356.64 11,392.43 15,713.69
26,840.57 18,385.59 16,038.50 12,909.04 13,300.22 11,344.30 15,647.31
26,664.88 18,307.16 15,970.08 12,853.97 13,243.48 11,295.91 15,580.56
26,487.91 18,228.29 15,901.27 12,798.59 13,186.42 11,247.24 15,513.44
26,309.64 18,148.97 15,832.08 12,742.90 13,129.04 11,198.30 15,445.93
26,130.08 18,069.21 15,762.50 12,686.89 13,071.34 11,149.09 15,378.05
25,949.20 17,989.00 15,692.53 12,630.57 13,013.32 11,099.59 15,309.79
25,767.00 17,908.34 15,622.17 12,573.94 12,954.97 11,049.83 15,241.14
25,583.48 17,827.22 15,551.41 12,516.99 12,896.29 10,999.78 15,172.11
25,398.61 17,745.65 15,480.25 12,459.72 12,837.28 10,949.45 15,102.69
25,212.40 17,663.63 15,408.70 12,402.12 12,777.94 10,898.83 15,032.88
25,024.82 17,581.14 15,336.74 12,344.21 12,718.27 10,847.94 14,962.67
24,835.88 17,498.19 15,264.38 12,285.96 12,658.27 10,796.75 14,892.08
24,645.55 17,414.77 15,191.61 12,227.39 12,597.92 10,745.28 14,821.08
24,453.84 17,330.89 15,118.43 12,168.50 12,537.24 10,693.53 14,749.69
24,260.73 17,246.53 15,044.85 12,109.27 12,476.21 10,641.48 14,677.90
24,066.21 17,161.70 14,970.84 12,049.71 12,414.85 10,589.13 14,605.70
23,870.26 17,076.39 14,896.43 11,989.81 12,353.14 10,536.50 14,533.10
23,672.89 16,990.61 14,821.59 11,929.58 12,291.08 10,483.57 14,460.09
23,474.08 16,904.34 14,746.34 11,869.01 12,228.67 10,430.34 14,386.67
23,273.81 16,817.59 14,670.66 11,808.10 12,165.92 10,376.81 14,312.84
23,072.08 16,730.35 14,594.56 11,746.84 12,102.81 10,322.98 14,238.60
22,868.89 16,642.62 14,518.03 11,685.25 12,039.34 10,268.85 14,163.93
22,664.20 16,554.40 14,441.07 11,623.30 11,975.52 10,214.42 14,088.85
22,458.03 16,465.68 14,363.68 11,561.01 11,911.35 10,159.68 14,013.35
22,250.34 16,376.47 14,285.85 11,498.37 11,846.81 10,104.63 13,937.42
22,041.15 16,286.75 14,207.59 11,435.38 11,781.91 10,049.27 13,861.06
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- -------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- -------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10,276.29 9,293.34 12,733.66 9,159.30 10,499.69
10,245.09 9,265.13 12,695.00 9,131.49 10,467.81
10,213.71 9,236.75 12,656.13 9,103.52 10,435.75
10,182.16 9,208.22 12,617.03 9,075.40 10,403.52
10,150.44 9,179.53 12,577.72 9,047.12 10,371.10
10,118.53 9,150.67 12,538.18 9,018.69 10,338.50
10,086.45 9,121.66 12,498.42 8,990.09 10,305.72
10,054.18 9,092.48 12,458.44 8,961.33 10,272.75
10,021.73 9,063.13 12,418.24 8,932.41 10,239.60
9,989.11 9,033.63 12,377.80 8,903.33 10,206.26
9,956.29 9,003.95 12,337.15 8,874.08 10,172.73
9,923.30 8,974.11 12,296.26 8,844.67 10,139.02
9,890.12 8,944.11 12,255.14 8,815.10 10,105.12
9,856.75 8,913.93 12,213.80 8,785.36 10,071.02
9,823.19 8,883.58 12,172.22 8,755.45 10,036.74
9,789.45 8,853.07 12,130.40 8,725.37 10,002.26
9,755.52 8,822.38 12,088.36 8,695.13 9,967.59
9,721.39 8,791.52 12,046.07 8,664.72 9,932.73
9,687.08 8,760.49 12,003.55 8,634.13 9,897.66
9,652.57 8,729.28 11,960.79 8,603.37 9,862.41
9,617.87 8,697.90 11,917.79 8,572.44 9,826.95
9,582.97 8,666.34 11,874.55 8,541.34 9,791.29
9,547.88 8,634.60 11,831.07 8,510.06 9,755.44
9,512.59 8,602.69 11,787.34 8,478.61 9,719.38
9,477.10 8,570.60 11,743.36 8,446.98 9,683.12
9,441.41 8,538.32 11,699.14 8,415.17 9,646.66
9,405.52 8,505.87 11,654.67 8,383.18 9,609.99
9,369.43 8,473.23 11,609.95 8,351.01 9,573.12
9,333.14 8,440.41 11,564.98 8,318.67 9,536.04
9,296.65 8,407.40 11,519.76 8,286.14 9,498.75
9,259.95 8,374.21 11,474.28 8,253.43 9,461.25
9,223.04 8,340.84 11,428.55 8,220.53 9,423.54
9,185.93 8,307.27 11,382.56 8,187.45 9,385.62
9,148.60 8,273.52 11,336.31 8,154.19 9,347.49
9,111.07 8,239.58 11,289.81 8,120.73 9,309.14
9,073.33 8,205.45 11,243.04 8,087.09 9,270.57
9,035.37 8,171.12 11,196.01 8,053.26 9,231.79
8,997.21 8,136.60 11,148.71 8,019.25 9,192.80
8,958.82 8,101.89 11,101.15 7,985.04 9,153.58
8,920.23 8,066.99 11,053.32 7,950.63 9,114.14
8,881.41 8,031.89 11,005.23 7,916.04 9,074.48
8,842.38 7,996.59 10,956.86 7,881.25 9,034.60
8,803.13 7,961.09 10,908.22 7,846.26 8,994.50
8,763.65 7,925.39 10,859.31 7,811.08 8,954.17
8,723.96 7,889.50 10,810.13 7,775.70 8,913.61
8,684.04 7,853.40 10,760.66 7,740.12 8,872.83
8,643.90 7,817.10 10,710.92 7,704.35 8,831.81
8,603.54 7,780.59 10,660.90 7,668.37 8,790.57
8,562.94 7,743.88 10,610.60 7,632.19 8,749.09
8,522.12 7,706.96 10,560.02 7,595.80 8,707.39
8,481.07 7,669.84 10,509.16 7,559.21 8,665.44
8,439.79 7,632.51 10,458.00 7,522.42 8,623.26
8,398.28 7,594.97 10,406.56 7,485.42 8,580.85
8,356.53 7,557.21 10,354.83 7,448.21 8,538.20
8,314.55 7,519.25 10,302.82 7,410.79 8,495.30
8,272.34 7,481.07 10,250.50 7,373.17 8,452.17
8,229.88 7,442.68 10,197.90 7,335.33 8,408.79
8,187.19 7,404.07 10,145.00 7,297.28 8,365.17
8,144.26 7,365.25 10,091.80 7,259.01 8,321.31
8,101.09 7,326.20 10,038.31 7,220.53 8,277.20
8,057.67 7,286.94 9,984.51 7,181.84 8,232.84
8,014.02 7,247.46 9,930.41 7,142.92 8,188.23
7,970.11 7,207.75 9,876.01 7,103.79 8,143.38
</TABLE>
Page 21
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- -----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- -----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- -----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- -----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
23,007.46 28,493.24 31,674.89 30,707.65 24,465.07 26,222.06 28,356.73
22,866.75 28,361.10 31,366.91 30,409.07 24,227.19 25,967.10 28,081.01
22,725.14 28,228.08 31,056.67 30,108.31 23,987.57 25,710.27 27,803.28
22,582.64 28,079.32 30,744.18 29,805.36 23,746.20 25,451.57 27,523.52
22,439.25 27,929.58 30,429.40 29,500.19 23,503.08 25,190.98 27,241.71
22,294.95 27,778.85 30,112.32 29,192.80 23,258.17 24,928.49 26,957.85
22,149.73 27,627.12 29,792.93 28,883.16 23,011.48 24,664.08 26,671.92
22,003.61 27,474.38 29,471.21 28,571.26 22,762.99 24,397.75 26,383.90
21,856.56 27,320.64 29,147.14 28,257.09 22,512.68 24,129.46 26,093.78
21,708.58 27,165.87 28,820.70 27,940.62 22,260.55 23,859.22 25,801.54
21,559.67 27,010.08 28,491.88 27,621.84 22,006.57 23,587.01 25,507.16
21,409.82 26,853.25 28,160.66 27,300.73 21,750.75 23,312.81 25,210.64
21,259.02 26,695.39 27,827.02 26,977.28 21,493.05 23,036.61 24,911.95
21,107.27 26,536.48 27,490.95 26,651.47 21,233.47 22,758.39 24,611.08
20,954.57 26,376.52 27,152.42 26,323.28 20,972.00 22,478.14 24,308.02
20,800.90 26,215.50 26,811.42 25,992.70 20,708.62 22,195.84 24,002.74
20,646.26 26,053.41 26,467.94 25,659.70 20,443.32 21,911.49 23,695.24
20,490.64 25,890.25 26,121.94 25,324.27 20,176.08 21,625.05 23,385.49
20,334.05 25,726.01 25,773.42 24,986.39 19,906.89 21,336.53 23,073.48
20,176.47 25,560.68 25,422.36 24,646.05 19,635.73 21,045.90 22,759.19
20,017.89 25,394.25 25,068.73 24,303.22 19,362.60 20,753.15 22,442.61
19,858.31 25,226.73 24,712.52 23,957.89 19,087.47 20,458.26 22,123.71
19,697.72 25,058.09 24,353.71 23,610.03 18,810.33 20,161.22 21,802.49
19,536.13 24,888.33 23,992.28 23,259.64 18,531.17 19,862.01 21,478.93
19,373.51 24,717.45 23,628.21 22,906.69 18,249.97 19,560.62 21,153.00
19,209.86 24,545.44 23,261.49 22,551.16 17,966.72 19,257.03 20,824.69
19,045.19 24,372.29 22,892.09 22,193.04 17,681.40 18,951.22 20,493.98
18,879.47 24,197.99 22,519.99 21,832.31 17,394.00 18,643.18 20,160.87
18,712.71 24,022.54 22,145.17 21,468.94 17,104.50 18,332.89 19,825.31
18,544.90 23,845.92 21,767.62 21,102.91 16,812.89 18,020.33 19,487.31
18,376.03 23,668.13 21,387.31 20,734.22 16,519.14 17,705.49 19,146.85
18,206.09 23,489.17 21,004.23 20,362.84 16,223.26 17,388.36 18,803.89
18,035.08 23,309.02 20,618.35 19,988.74 15,925.21 17,068.91 18,458.44
17,862.99 23,127.68 20,229.65 19,611.91 15,624.99 16,747.12 18,110.46
17,689.82 22,945.13 19,838.12 19,232.33 15,322.58 16,422.99 17,759.94
17,515.55 22,761.38 19,443.73 18,849.98 15,017.96 16,096.49 17,406.86
17,340.19 22,576.41 19,046.45 18,464.84 14,711.11 15,767.61 17,051.21
17,163.71 22,390.21 18,646.28 18,076.89 14,402.03 15,436.33 16,692.96
16,986.13 22,202.78 18,243.19 17,686.11 14,090.68 15,102.63 16,332.09
16,807.42 22,014.11 17,837.15 17,292.47 13,777.07 14,766.49 15,968.59
16,627.59 21,824.19 17,428.15 16,895.96 13,461.17 14,427.90 15,602.44
16,446.62 21,633.01 17,016.17 16,496.56 13,142.96 14,086.84 15,233.61
16,264.51 21,440.56 16,601.18 16,094.23 12,822.42 13,743.29 14,862.09
16,081.25 21,246.84 16,183.15 15,688.98 12,499.55 13,397.23 14,487.86
15,896.83 21,051.83 15,762.08 15,280.76 12,174.32 13,048.64 14,110.89
15,711.25 20,855.54 15,337.93 14,869.57 11,846.72 12,697.51 13,731.18
15,524.51 20,657.94 14,910.69 14,455.37 11,516.72 12,343.82 13,348.69
15,336.58 20,459.03 14,480.32 14,038.15 11,184.32 11,987.54 12,963.41
15,147.46 20,258.81 14,046.82 13,617.88 10,849.49 11,628.66 12,575.32
14,957.16 20,057.26 13,610.15 13,194.55 10,512.22 11,267.17 12,184.40
14,751.31 19,854.37 13,170.29 12,768.12 10,172.48 10,903.03 11,790.62
14,544.16 19,650.14 12,727.23 12,338.58 9,830.26 10,536.24 11,393.96
14,335.71 19,444.56 12,280.92 11,905.91 9,485.55 10,166.77 10,994.41
14,125.94 19,237.61 11,831.36 11,470.08 9,138.32 9,794.60 10,591.95
13,914.85 19,029.30 11,378.52 11,031.06 8,788.55 9,419.71 10,186.54
13,702.42 18,819.60 10,922.37 10,588.84 8,436.23 9,042.09 9,778.18
13,488.66 18,608.51 10,462.90 10,143.40 8,081.34 8,661.71 9,366.84
13,273.54 18,396.03 10,000.07 9,694.70 7,723.86 8,278.56 8,952.49
13,057.07 18,182.14 9,533.85 9,242.72 7,363.76 7,892.60 8,535.12
12,839.24 17,966.83 9,064.24 8,787.45 7,001.04 7,503.83 8,114.70
12,620.02 17,750.10 8,591.20 8,328.85 6,635.67 7,112.23 7,691.21
12,399.43 17,531.92 8,114.70 7,866.91 6,267.64 6,717.76 7,264.63
12,177.45 17,312.31 7,634.73 7,401.59 5,896.92 6,320.41 6,834.94
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
21,830.42 16,196.53 14,128.89 11,372.03 11,716.64 9,993.60 13,784.28
21,618.16 16,105.80 14,049.74 11,308.33 11,651.01 9,937.62 13,707.07
21,404.34 16,014.57 13,970.15 11,244.27 11,585.01 9,881.33 13,629.42
21,188.97 15,922.82 13,890.12 11,179.85 11,518.64 9,824.72 13,551.34
20,972.02 15,830.55 13,809.63 11,115.07 11,451.89 9,767.79 13,472.81
20,753.49 15,737.77 13,728.70 11,049.93 11,384.77 9,710.54 13,393.85
20,533.37 15,644.47 13,647.30 10,984.42 11,317.28 9,652.97 13,314.44
20,311.64 15,550.64 13,565.45 10,918.54 11,249.40 9,595.08 13,234.59
20,088.29 15,456.29 13,483.15 10,852.29 11,181.15 9,536.86 13,154.29
19,863.30 15,361.40 13,400.37 10,785.67 11,112.51 9,478.31 13,073.54
19,636.68 15,265.99 13,317.14 10,718.67 11,043.48 9,419.44 12,992.33
19,408.40 15,170.04 13,233.44 10,651.30 10,974.07 9,360.23 12,910.67
19,178.46 15,073.54 13,149.26 10,583.55 10,904.27 9,300.70 12,828.55
18,946.84 14,976.51 13,064.62 10,515.42 10,834.07 9,240.83 12,745.97
18,713.52 14,878.93 12,979.49 10,446.91 10,763.48 9,180.62 12,662.92
18,478.51 14,780.81 12,893.89 10,378.01 10,692.50 9,120.07 12,579.41
18,241.77 14,682.13 12,807.81 10,308.73 10,621.12 9,059.19 12,495.43
18,003.31 14,582.90 12,721.25 10,239.06 10,549.33 8,997.96 12,410.98
17,763.11 14,483.11 12,634.20 10,168.99 10,477.14 8,936.39 12,326.05
17,521.16 14,382.76 12,546.66 10,098.54 10,404.55 8,874.47 12,240.65
17,277.43 14,281.85 12,458.63 10,027.68 10,331.55 8,812.20 12,154.76
17,031.93 14,180.37 12,370.11 9,956.43 10,258.14 8,749.59 12,068.40
16,784.64 14,078.32 12,281.09 9,884.78 10,184.32 8,686.62 11,981.55
16,535.54 13,975.70 12,191.57 9,812.72 10,110.08 8,623.30 11,894.21
16,284.63 13,872.50 12,101.54 9,740.27 10,035.43 8,559.63 11,806.38
16,031.88 13,768.72 12,011.01 9,667.40 9,960.35 8,495.59 11,718.06
15,777.29 13,664.36 11,919.97 9,594.13 9,884.86 8,431.20 11,629.24
15,520.84 13,559.41 11,828.42 9,520.44 9,808.94 8,366.45 11,539.93
15,262.51 13,453.88 11,736.36 9,446.34 9,732.59 8,301.33 11,450.11
15,002.30 13,347.75 11,643.78 9,371.82 9,655.82 8,235.84 11,359.78
14,740.19 13,241.02 11,550.68 9,296.89 9,578.61 8,169.99 11,268.96
14,476.17 13,133.70 11,457.05 9,221.53 9,500.97 8,103.77 11,177.62
14,210.22 13,025.77 11,362.91 9,145.75 9,422.90 8,037.18 11,085.76
13,942.33 12,917.24 11,268.23 9,069.55 9,344.38 7,970.21 10,993.39
13,672.48 12,808.09 11,173.02 8,992.92 9,265.43 7,902.87 10,900.51
13,400.67 12,698.34 11,077.27 8,915.86 9,186.03 7,835.15 10,807.10
13,126.87 12,587.97 10,980.99 8,838.36 9,106.19 7,767.04 10,713.16
12,851.07 12,476.97 10,884.17 8,760.43 9,025.90 7,698.56 10,618.70
12,573.26 12,365.36 10,786.80 8,682.06 8,945.15 7,629.69 10,523.71
12,293.41 12,253.12 10,688.89 8,603.25 8,863.96 7,560.43 10,428.19
12,011.53 12,140.25 10,590.43 8,524.00 8,782.31 7,490.79 10,332.12
11,727.59 12,026.74 10,491.41 8,444.31 8,700.19 7,420.75 10,235.52
11,441.58 11,912.60 10,391.84 8,364.16 8,617.62 7,350.32 10,138.38
11,153.47 11,797.81 10,291.71 8,283.57 8,534.59 7,279.50 10,040.69
10,863.27 11,682.38 10,191.01 8,202.52 8,451.09 7,208.28 9,942.45
10,570.94 11,566.30 10,089.75 8,121.02 8,367.11 7,136.66 9,843.66
10,276.49 11,449.57 9,987.93 8,039.06 8,282.67 7,064.63 9,744.32
9,979.88 11,332.19 9,885.53 7,956.65 8,197.75 6,992.20 9,644.42
9,681.11 11,214.15 9,782.55 7,873.76 8,112.36 6,919.37 9,543.95
9,380.15 11,095.44 9,679.00 7,790.42 8,026.49 6,846.12 9,442.93
9,077.00 10,976.06 9,574.87 7,706.60 7,940.13 6,772.47 9,341.33
8,771.64 10,856.02 9,470.15 7,622.31 7,853.29 6,698.40 9,239.17
8,464.05 10,735.30 9,364.84 7,537.55 7,765.96 6,623.91 9,136.43
8,154.21 10,613.91 9,258.94 7,452.32 7,678.15 6,549.01 9,033.11
7,842.11 10,491.83 9,152.45 7,366.60 7,589.83 6,473.68 8,929.22
7,527.73 10,369.07 9,045.35 7,280.41 7,501.03 6,397.93 8,824.74
7,211.06 10,245.61 8,937.66 7,193.73 7,411.72 6,321.76 8,719.67
6,892.07 10,121.47 8,829.36 7,106.56 7,321.91 6,245.16 8,614.01
6,570.76 9,996.62 8,720.46 7,018.91 7,231.60 6,168.13 8,507.76
6,247.10 9,871.08 8,610.94 6,930.76 7,140.78 6,090.67 8,400.92
5,921.08 9,744.83 8,500.81 6,842.12 7,049.45 6,012.77 8,293.47
5,592.68 9,617.87 8,390.06 6,752.97 6,957.61 5,934.43 8,185.42
5,261.88 9,490.20 8,278.68 6,663.33 6,865.25 5,855.66 8,076.77
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- -------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- -------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
7,925.96 7,167.83 9,821.30 7,064.44 8,098.27
7,881.56 7,127.68 9,766.29 7,024.87 8,052.90
7,836.92 7,087.30 9,710.96 6,985.07 8,007.28
7,792.02 7,046.70 9,655.33 6,945.06 7,961.41
7,746.87 7,005.86 9,599.38 6,904.81 7,915.28
7,701.46 6,964.80 9,543.12 6,864.35 7,868.89
7,655.80 6,923.51 9,486.54 6,823.65 7,822.23
7,609.89 6,881.99 9,429.65 6,782.72 7,775.32
7,563.72 6,840.23 9,372.43 6,741.57 7,728.14
7,517.28 6,798.24 9,314.89 6,700.18 7,680.70
7,470.59 6,756.01 9,257.04 6,658.57 7,632.99
7,423.63 6,713.55 9,198.85 6,616.72 7,585.02
7,376.42 6,670.85 9,140.34 6,574.63 7,536.77
7,328.93 6,627.90 9,081.50 6,532.31 7,488.26
7,281.18 6,584.72 9,022.33 6,489.74 7,439.47
7,233.16 6,541.29 8,962.83 6,446.95 7,390.40
7,184.87 6,497.62 8,902.99 6,403.91 7,341.06
7,136.31 6,453.71 8,842.82 6,360.62 7,291.45
7,087.48 6,409.55 8,782.31 6,317.10 7,241.55
7,038.37 6,365.14 8,721.46 6,273.33 7,191.38
6,988.99 6,320.48 8,660.27 6,229.31 7,140.92
6,939.33 6,275.57 8,598.73 6,185.05 7,090.18
6,889.39 6,230.41 8,536.85 6,140.54 7,039.16
6,839.17 6,184.99 8,474.63 6,095.78 6,987.85
6,788.67 6,139.32 8,412.05 6,050.77 6,936.25
6,737.88 6,093.39 8,349.12 6,005.50 6,884.36
6,686.81 6,047.21 8,285.84 5,959.98 6,832.18
6,635.46 6,000.76 8,222.20 5,914.21 6,779.71
6,583.81 5,954.06 8,158.20 5,868.18 6,726.94
6,531.88 5,907.09 8,093.85 5,821.89 6,673.87
6,479.65 5,859.86 8,029.13 5,775.34 6,620.51
6,427.13 5,812.36 7,964.05 5,728.53 6,566.85
6,374.31 5,764.60 7,898.61 5,681.45 6,512.88
6,321.20 5,716.57 7,832.79 5,634.11 6,458.62
6,267.79 5,668.26 7,766.61 5,586.51 6,404.05
6,214.08 5,619.69 7,700.06 5,538.64 6,349.17
6,160.07 5,570.85 7,633.13 5,490.49 6,293.98
6,105.75 5,521.73 7,565.83 5,442.08 6,238.49
6,051.13 5,472.33 7,498.14 5,393.40 6,182.68
5,996.21 5,422.66 7,430.08 5,344.44 6,126.56
5,940.97 5,372.71 7,361.64 5,295.21 6,070.12
5,885.43 5,322.47 7,292.81 5,245.70 6,013.37
5,829.57 5,271.96 7,223.60 5,195.92 5,956.30
5,773.40 5,221.16 7,153.99 5,145.85 5,898.91
5,716.91 5,170.08 7,084.00 5,095.50 5,841.19
5,660.11 5,118.71 7,013.61 5,044.88 5,783.15
5,602.98 5,067.05 6,942.83 4,993.96 5,724.79
5,545.54 5,015.10 6,871.65 4,942.76 5,666.09
5,487.77 4,962.86 6,800.07 4,891.27 5,607.07
5,429.68 4,910.32 6,728.09 4,839.50 5,547.72
5,371.27 4,857.49 6,655.70 4,787.43 5,488.03
5,312.52 4,804.37 6,582.91 4,735.07 5,428.01
5,253.45 4,750.94 6,509.71 4,682.42 5,367.65
5,194.04 4,697.22 6,436.09 4,629.47 5,306.95
5,134.30 4,643.19 6,362.07 4,576.22 5,245.91
5,074.22 4,588.86 6,287.63 4,522.68 5,184.53
5,013.81 4,534.23 6,212.77 4,468.83 5,122.81
4,953.06 4,479.29 6,137.49 4,414.68 5,060.73
4,891.96 4,424.04 6,061.78 4,360.23 4,998.31
4,830.53 4,368.48 5,985.65 4,305.47 4,935.54
4,768.75 4,312.61 5,909.10 4,250.40 4,872.41
4,706.62 4,256.42 5,832.11 4,195.03 4,808.94
4,644.14 4,199.92 5,754.70 4,139.34 4,745.10
</TABLE>
Page 22
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- -----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- -----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- -----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- -----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,954.06 17,076.39 7,151.25 6,932.88 5,523.49 5,920.17 6,402.11
11,729.26 16,838.90 6,664.25 6,460.74 5,147.33 5,517.00 5,966.12
11,503.05 16,599.84 6,173.68 5,985.16 4,768.43 5,110.89 5,526.95
11,275.41 16,359.20 5,679.54 5,506.11 4,386.77 4,701.81 5,084.57
11,046.33 16,116.96 5,181.79 5,023.56 4,002.31 4,289.75 4,638.96
10,815.81 15,873.12 4,680.41 4,537.48 3,615.06 3,874.68 4,190.10
10,583.83 15,627.66 4,175.36 4,047.86 3,224.97 3,456.58 3,737.97
10,350.39 15,380.58 3,666.63 3,554.67 2,832.04 3,035.42 3,282.53
10,115.48 15,131.85 3,154.19 3,057.87 2,436.23 2,611.19 2,823.76
9,879.08 14,881.49 2,638.00 2,557.45 2,037.54 2,183.87 2,361.65
9,641.20 14,629.46 2,118.05 2,053.37 1,635.94 1,753.43 1,896.17
9,401.81 14,375.76 1,594.30 1,545.62 1,231.41 1,319.84 1,427.29
9,160.91 14,120.38 1,066.73 1,034.15 823.92 883.09 954.98
8,918.49 13,863.32 535.30 518.96 413.46 443.15 479.23
8,674.55 13,604.54 0.00 0.00 0.00 0.00 0.00
8,429.06 13,344.06 0.00 0.00 0.00 0.00 0.00
8,182.02 13,081.84 0.00 0.00 0.00 0.00 0.00
7,933.43 12,817.89 0.00 0.00 0.00 0.00 0.00
7,683.27 12,552.19 0.00 0.00 0.00 0.00 0.00
7,431.53 12,284.74 0.00 0.00 0.00 0.00 0.00
7,178.20 12,015.50 0.00 0.00 0.00 0.00 0.00
6,923.27 11,744.49 0.00 0.00 0.00 0.00 0.00
6,666.74 11,471.68 0.00 0.00 0.00 0.00 0.00
6,408.58 11,197.06 0.00 0.00 0.00 0.00 0.00
6,148.80 10,920.63 0.00 0.00 0.00 0.00 0.00
5,887.38 10,642.36 0.00 0.00 0.00 0.00 0.00
5,624.31 10,362.25 0.00 0.00 0.00 0.00 0.00
5,359.57 10,080.28 0.00 0.00 0.00 0.00 0.00
5,093.17 9,796.45 0.00 0.00 0.00 0.00 0.00
4,825.09 9,510.73 0.00 0.00 0.00 0.00 0.00
4,555.32 9,223.12 0.00 0.00 0.00 0.00 0.00
4,283.84 8,933.61 0.00 0.00 0.00 0.00 0.00
4,010.65 8,642.18 0.00 0.00 0.00 0.00 0.00
3,735.74 8,348.81 0.00 0.00 0.00 0.00 0.00
3,459.10 8,053.51 0.00 0.00 0.00 0.00 0.00
3,180.70 7,756.24 0.00 0.00 0.00 0.00 0.00
2,900.56 7,457.01 0.00 0.00 0.00 0.00 0.00
2,618.64 7,155.80 0.00 0.00 0.00 0.00 0.00
2,334.95 6,852.59 0.00 0.00 0.00 0.00 0.00
2,049.46 6,547.37 0.00 0.00 0.00 0.00 0.00
1,762.18 6,240.13 0.00 0.00 0.00 0.00 0.00
1,473.08 5,930.85 0.00 0.00 0.00 0.00 0.00
1,182.16 5,619.53 0.00 0.00 0.00 0.00 0.00
889.40 5,306.14 0.00 0.00 0.00 0.00 0.00
594.80 4,990.68 0.00 0.00 0.00 0.00 0.00
298.33 4,673.12 0.00 0.00 0.00 0.00 0.00
0.00 4,353.46 0.00 0.00 0.00 0.00 0.00
0.00 4,031.69 0.00 0.00 0.00 0.00 0.00
0.00 3,707.78 0.00 0.00 0.00 0.00 0.00
0.00 3,381.73 0.00 0.00 0.00 0.00 0.00
0.00 3,053.52 0.00 0.00 0.00 0.00 0.00
0.00 2,723.13 0.00 0.00 0.00 0.00 0.00
0.00 2,390.55 0.00 0.00 0.00 0.00 0.00
0.00 2,055.77 0.00 0.00 0.00 0.00 0.00
0.00 1,718.77 0.00 0.00 0.00 0.00 0.00
0.00 1,379.54 0.00 0.00 0.00 0.00 0.00
0.00 1,038.07 0.00 0.00 0.00 0.00 0.00
0.00 694.33 0.00 0.00 0.00 0.00 0.00
0.00 348.31 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,928.66 9,361.81 8,166.69 6,573.19 6,772.37 5,776.44 7,967.50
4,593.02 9,232.70 8,054.06 6,482.54 6,678.98 5,696.77 7,857.62
4,254.92 9,102.87 7,940.80 6,391.38 6,585.05 5,616.66 7,747.12
3,914.36 8,972.30 7,826.90 6,299.70 6,490.60 5,536.10 7,636.00
3,571.30 8,841.01 7,712.37 6,207.52 6,395.62 5,455.09 7,524.26
3,225.75 8,708.97 7,597.19 6,114.81 6,300.11 5,373.62 7,411.89
2,877.67 8,576.20 7,481.36 6,021.59 6,204.06 5,291.70 7,298.89
2,527.05 8,442.68 7,364.89 5,927.84 6,107.47 5,209.31 7,185.26
2,173.87 8,308.40 7,247.76 5,833.56 6,010.34 5,126.46 7,070.98
1,818.12 8,173.38 7,129.97 5,738.76 5,912.66 5,043.15 6,956.07
1,459.76 8,037.60 7,011.52 5,643.42 5,814.43 4,959.37 6,840.51
1,098.80 7,901.05 6,892.41 5,547.55 5,715.65 4,875.12 6,724.30
735.19 7,763.74 6,772.62 5,451.14 5,616.32 4,790.39 6,607.44
368.93 7,625.65 6,652.17 5,354.18 5,516.43 4,705.19 6,489.92
0.00 7,486.79 6,531.03 5,256.69 5,415.98 4,619.51 6,371.74
0.00 7,347.15 6,409.22 5,158.64 5,314.96 4,533.35 6,252.90
0.00 7,206.73 6,286.72 5,060.05 5,213.38 4,446.71 6,133.39
0.00 7,065.52 6,163.54 4,960.90 5,111.23 4,359.58 6,013.21
0.00 6,923.51 6,039.66 4,861.19 5,008.50 4,271.96 5,892.35
0.00 6,780.71 5,915.09 4,760.93 4,905.20 4,183.84 5,770.82
0.00 6,637.11 5,789.82 4,660.10 4,801.31 4,095.24 5,648.60
0.00 6,492.70 5,663.84 4,558.70 4,696.84 4,006.13 5,525.70
0.00 6,347.47 5,537.16 4,456.74 4,591.79 3,916.53 5,402.11
0.00 6,201.44 5,409.76 4,354.20 4,486.15 3,826.42 5,277.82
0.00 6,054.58 5,281.65 4,251.09 4,379.91 3,735.80 5,152.83
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- -----------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- -----------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
4,581.31 4,143.10 5,676.84 4,083.34 4,680.91
4,518.13 4,085.96 5,598.55 4,027.03 4,616.35
4,454.59 4,028.50 5,519.82 3,970.40 4,551.43
4,390.70 3,970.72 5,440.65 3,913.45 4,486.15
4,326.45 3,912.62 5,361.04 3,856.18 4,420.50
4,261.84 3,854.18 5,280.97 3,798.59 4,354.49
4,196.86 3,795.42 5,200.46 3,740.68 4,288.10
4,131.52 3,736.33 5,119.50 3,682.44 4,221.34
4,065.82 3,676.91 5,038.08 3,623.88 4,154.20
3,999.74 3,617.16 4,956.20 3,564.98 4,086.69
3,933.29 3,557.06 4,873.86 3,505.76 4,018.80
3,866.47 3,496.64 4,791.06 3,446.20 3,950.52
3,799.28 3,435.87 4,707.80 3,386.31 3,881.87
3,731.70 3,374.76 4,624.07 3,326.08 3,812.83
3,663.75 3,313.31 4,539.86 3,265.52 3,743.40
3,595.42 3,251.51 4,455.19 3,204.61 3,673.58
3,526.70 3,189.36 4,370.04 3,143.36 3,603.37
3,457.59 3,126.87 4,284.41 3,081.77 3,532.76
3,388.10 3,064.02 4,198.30 3,019.83 3,461.76
3,318.22 3,000.83 4,111.71 2,957.54 3,390.36
3,247.95 2,937.27 4,024.63 2,894.91 3,318.55
3,177.28 2,873.36 3,937.06 2,831.92 3,246.35
3,106.21 2,809.10 3,849.00 2,768.58 3,173.74
3,034.75 2,744.47 3,760.45 2,704.88 3,100.72
2,962.88 2,679.47 3,671.39 2,640.83 3,027.29
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 23
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- -----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- -----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- -----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- -----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- -------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- -------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 24
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
23,989.01 27,894.20 20,083.82 17,294.40 13,668.16 10,599.79 11,715.57
23,957.51 27,857.57 20,057.45 17,271.69 13,650.21 10,585.87 11,700.18
23,925.83 27,820.73 20,030.93 17,248.85 13,632.16 10,571.88 11,684.71
23,893.97 27,783.69 20,004.26 17,225.89 13,614.01 10,557.80 11,669.15
23,861.93 27,746.43 19,977.43 17,202.79 13,595.75 10,543.64 11,653.51
23,829.72 27,708.97 19,950.46 17,179.56 13,577.40 10,529.41 11,637.77
23,797.32 27,671.30 19,923.34 17,156.21 13,558.94 10,515.09 11,621.95
23,764.74 27,633.42 19,896.06 17,132.72 13,540.38 10,500.70 11,606.04
23,731.98 27,595.32 19,868.63 17,109.10 13,521.71 10,486.22 11,590.04
23,699.03 27,557.01 19,841.05 17,085.35 13,502.94 10,471.66 11,573.95
23,665.90 27,518.49 19,813.31 17,061.46 13,484.06 10,457.02 11,557.77
23,632.58 27,479.75 19,785.42 17,037.44 13,465.08 10,442.30 11,541.50
23,599.08 27,440.79 19,757.37 17,013.29 13,445.99 10,427.50 11,525.14
23,565.38 27,401.61 19,729.16 16,989.00 13,426.79 10,412.61 11,508.68
23,531.50 27,362.21 19,700.79 16,964.57 13,407.48 10,397.64 11,492.13
23,497.43 27,322.59 19,672.27 16,940.01 13,388.07 10,382.58 11,475.49
23,463.17 27,282.75 19,643.58 16,915.31 13,368.55 10,367.44 11,458.76
23,428.71 27,242.69 19,614.74 16,890.47 13,348.92 10,352.22 11,441.93
23,394.06 27,202.39 19,585.73 16,865.49 13,329.17 10,336.91 11,425.01
23,359.22 27,161.88 19,556.55 16,840.36 13,309.32 10,321.51 11,407.99
23,324.18 27,121.13 19,527.22 16,815.10 13,289.36 10,306.03 11,390.88
23,288.94 27,080.16 19,497.72 16,789.70 13,269.28 10,290.46 11,373.67
23,253.51 27,038.96 19,468.05 16,764.15 13,249.09 10,274.80 11,356.37
23,217.87 26,997.52 19,438.22 16,738.47 13,228.79 10,259.06 11,338.97
23,182.04 26,955.86 19,408.22 16,712.63 13,208.37 10,243.23 11,321.47
23,146.00 26,913.96 19,378.05 16,686.65 13,187.84 10,227.30 11,303.87
23,109.77 26,871.82 19,347.71 16,660.53 13,167.19 10,211.29 11,286.17
23,073.33 26,829.45 19,317.20 16,634.26 13,146.43 10,195.19 11,268.37
23,036.68 26,786.84 19,286.52 16,607.84 13,125.55 10,179.00 11,250.48
22,999.83 26,743.99 19,255.67 16,581.27 13,104.55 10,162.71 11,232.48
22,962.77 26,700.90 19,224.65 16,554.56 13,083.44 10,146.34 11,214.38
22,925.50 26,657.56 19,193.45 16,527.69 13,062.21 10,129.87 11,196.18
22,888.03 26,613.99 19,162.07 16,500.67 13,040.85 10,113.31 11,177.88
22,850.34 26,570.17 19,130.52 16,473.50 13,019.38 10,096.66 11,159.47
22,812.45 26,526.10 19,098.79 16,446.18 12,997.79 10,079.92 11,140.97
22,774.34 26,481.78 19,066.89 16,418.71 12,976.07 10,063.08 11,122.35
22,736.01 26,437.22 19,034.80 16,391.08 12,954.24 10,046.14 11,103.64
22,697.47 26,392.41 19,002.54 16,363.29 12,932.28 10,029.11 11,084.82
22,658.72 26,347.34 18,970.09 16,335.35 12,910.20 10,011.99 11,065.89
22,619.74 26,302.02 18,937.46 16,307.26 12,887.99 9,994.77 11,046.85
22,580.55 26,256.45 18,904.65 16,279.00 12,865.66 9,977.45 11,027.71
22,541.14 26,210.62 18,871.65 16,250.59 12,843.21 9,960.04 11,008.47
22,501.50 26,164.54 18,838.47 16,222.01 12,820.62 9,942.52 10,989.11
22,461.65 26,118.19 18,805.10 16,193.28 12,797.91 9,924.91 10,969.65
22,421.56 26,071.59 18,771.54 16,164.38 12,775.08 9,907.20 10,950.07
22,381.26 26,024.72 18,737.80 16,135.33 12,752.11 9,889.39 10,930.39
22,340.73 25,977.59 18,703.87 16,106.11 12,729.02 9,871.48 10,910.59
<CAPTION>
89 90 91 92 93 94 95
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK
OH OH OH OH OR OR PA
- ------------------------------------------------------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
14,644.46 15,341.81 14,644.46 17,015.46 13,389.22 34,030.92 14,756.03
14,625.22 15,321.67 14,625.22 16,993.12 13,371.63 33,986.23 14,736.66
14,605.89 15,301.41 14,605.89 16,970.65 13,353.95 33,941.29 14,717.17
14,586.44 15,281.03 14,586.44 16,948.05 13,336.17 33,896.10 14,697.57
14,566.88 15,260.54 14,566.88 16,925.33 13,318.29 33,850.65 14,677.87
14,547.21 15,239.94 14,547.21 16,902.47 13,300.31 33,804.95 14,658.05
14,527.44 15,219.22 14,527.44 16,879.49 13,282.23 33,758.99 14,638.12
14,507.55 15,198.38 14,507.55 16,856.39 13,264.04 33,712.77 14,618.08
14,487.55 15,177.43 14,487.55 16,833.15 13,245.76 33,666.29 14,597.93
14,467.43 15,156.36 14,467.43 16,809.78 13,227.37 33,619.56 14,577.66
14,447.21 15,135.17 14,447.21 16,786.28 13,208.87 33,572.56 14,557.28
14,426.87 15,113.86 14,426.87 16,762.65 13,190.28 33,525.29 14,536.79
14,406.42 15,092.44 14,406.42 16,738.88 13,171.58 33,477.76 14,516.18
14,385.85 15,070.89 14,385.85 16,714.98 13,152.77 33,429.96 14,495.45
14,365.16 15,049.22 14,365.16 16,690.95 13,133.86 33,381.90 14,474.61
14,344.36 15,027.43 14,344.36 16,666.78 13,114.85 33,333.56 14,453.65
14,323.45 15,005.52 14,323.45 16,642.48 13,095.72 33,284.96 14,432.58
14,302.41 14,983.48 14,302.41 16,618.04 13,076.49 33,236.08 14,411.38
14,281.26 14,961.32 14,281.26 16,593.46 13,057.15 33,186.92 14,390.07
14,259.99 14,939.04 14,259.99 16,568.75 13,037.70 33,137.49 14,368.64
14,238.60 14,916.63 14,238.60 16,543.89 13,018.15 33,087.79 14,347.08
14,217.09 14,894.09 14,217.09 16,518.90 12,998.48 33,037.80 14,325.41
14,195.46 14,871.43 14,195.46 16,493.77 12,978.70 32,987.53 14,303.61
14,173.70 14,848.64 14,173.70 16,468.49 12,958.81 32,936.98 14,281.69
14,151.83 14,825.73 14,151.83 16,443.07 12,938.81 32,886.15 14,259.65
14,129.83 14,802.68 14,129.83 16,417.51 12,918.70 32,835.03 14,237.49
14,107.71 14,779.51 14,107.71 16,391.81 12,898.47 32,783.62 14,215.20
14,085.46 14,756.20 14,085.46 16,365.96 12,878.14 32,731.93 14,192.78
14,063.09 14,732.76 14,063.09 16,339.97 12,857.68 32,679.94 14,170.24
14,040.60 14,709.20 14,040.60 16,313.83 12,837.11 32,627.66 14,147.57
14,017.97 14,685.50 14,017.97 16,287.55 12,816.43 32,575.09 14,124.78
13,995.22 14,661.66 13,995.22 16,261.11 12,795.63 32,522.23 14,101.85
13,972.35 14,637.70 13,972.35 16,234.53 12,774.71 32,469.07 14,078.80
13,949.34 14,613.60 13,949.34 16,207.80 12,753.68 32,415.60 14,055.62
13,926.20 14,589.36 13,926.20 16,180.92 12,732.53 32,361.84 14,032.31
13,902.94 14,564.99 13,902.94 16,153.89 12,711.26 32,307.78 14,008.87
13,879.54 14,540.48 13,879.54 16,126.71 12,689.87 32,253.41 13,985.29
13,856.02 14,515.83 13,856.02 16,099.37 12,668.36 32,198.74 13,961.59
13,832.36 14,491.04 13,832.36 16,071.88 12,646.73 32,143.76 13,937.75
13,808.56 14,466.12 13,808.56 16,044.24 12,624.97 32,088.47 13,913.77
13,784.64 14,441.05 13,784.64 16,016.44 12,603.10 32,032.87 13,889.67
13,760.58 14,415.85 13,760.58 15,988.48 12,581.10 31,976.96 13,865.42
13,736.38 14,390.50 13,736.38 15,960.37 12,558.98 31,920.74 13,841.04
13,712.05 14,365.01 13,712.05 15,932.10 12,536.73 31,864.20 13,816.53
13,687.58 14,339.38 13,687.58 15,903.67 12,514.36 31,807.34 13,791.87
13,662.98 14,313.60 13,662.98 15,875.08 12,491.87 31,750.16 13,767.08
13,638.24 14,287.68 13,638.24 15,846.33 12,469.24 31,692.66 13,742.15
<CAPTION>
96 97 98 99 100
-- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------
PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA TN UT VA VA
- ---------------------------------------------------------------------------------------------
2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
14,309.72 10,822.95 18,968.06 14,504.98 13,389.22
14,290.93 10,808.74 18,943.15 14,485.93 13,371.63
14,272.03 10,794.45 18,918.10 14,466.78 13,353.95
14,253.03 10,780.07 18,892.91 14,447.52 13,336.17
14,233.92 10,765.62 18,867.58 14,428.14 13,318.29
14,214.70 10,751.08 18,842.11 14,408.66 13,300.31
14,195.38 10,736.47 18,816.49 14,389.07 13,282.23
14,175.94 10,721.77 18,790.73 14,369.38 13,264.04
14,156.40 10,706.99 18,764.82 14,349.57 13,245.76
14,136.75 10,692.12 18,738.77 14,329.64 13,227.37
14,116.98 10,677.18 18,712.58 14,309.61 13,208.87
14,097.11 10,662.14 18,686.23 14,289.47 13,190.28
14,077.12 10,647.03 18,659.74 14,269.21 13,171.58
14,057.02 10,631.83 18,633.10 14,248.84 13,152.77
14,036.81 10,616.54 18,606.31 14,228.35 13,133.86
14,016.49 10,601.17 18,579.37 14,207.75 13,114.85
13,996.05 10,585.71 18,552.27 14,187.03 13,095.72
13,975.50 10,570.16 18,525.03 14,166.19 13,076.49
13,954.83 10,554.53 18,497.63 14,145.24 13,057.15
13,934.04 10,538.81 18,470.08 14,124.18 13,037.70
13,913.14 10,523.00 18,442.38 14,102.99 13,018.15
13,892.12 10,507.11 18,414.51 14,081.68 12,998.48
13,870.98 10,491.12 18,386.50 14,060.26 12,978.70
13,849.73 10,475.04 18,358.32 14,038.71 12,958.81
13,828.35 10,458.87 18,329.99 14,017.04 12,938.81
13,806.86 10,442.62 18,301.49 13,995.26 12,918.70
13,785.24 10,426.27 18,272.84 13,973.35 12,898.47
13,763.50 10,409.83 18,244.03 13,951.31 12,878.14
13,741.65 10,393.29 18,215.05 13,929.15 12,857.68
13,719.66 10,376.67 18,185.91 13,906.87 12,837.11
13,697.56 10,359.95 18,156.61 13,884.46 12,816.43
13,675.33 10,343.14 18,127.15 13,861.93 12,795.63
13,652.97 10,326.23 18,097.52 13,839.27 12,774.71
13,630.49 10,309.23 18,067.72 13,816.48 12,753.68
13,607.89 10,292.13 18,037.75 13,793.57 12,732.53
13,585.15 10,274.93 18,007.62 13,770.53 12,711.26
13,562.29 10,257.64 17,977.31 13,747.35 12,689.87
13,539.30 10,240.26 17,946.84 13,724.05 12,668.36
13,516.18 10,222.77 17,916.20 13,700.62 12,646.73
13,492.94 10,205.19 17,885.38 13,677.05 12,624.97
13,469.56 10,187.51 17,854.39 13,653.35 12,603.10
13,446.05 10,169.72 17,823.23 13,629.52 12,581.10
13,422.41 10,151.84 17,791.89 13,605.56 12,558.98
13,398.63 10,133.86 17,760.37 13,581.46 12,536.73
13,374.72 10,115.78 17,728.68 13,557.22 12,514.36
13,350.68 10,097.59 17,696.81 13,532.85 12,491.87
13,326.50 10,079.31 17,664.76 13,508.35 12,469.24
</TABLE>
Page 25
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
22,299.97 25,930.19 18,669.74 16,076.72 12,705.80 9,853.47 10,890.69
22,258.98 25,882.53 18,635.43 16,047.17 12,682.44 9,835.36 10,870.67
22,217.76 25,834.60 18,600.92 16,017.46 12,658.96 9,817.15 10,850.54
22,176.31 25,786.41 18,566.21 15,987.57 12,635.34 9,798.83 10,830.30
22,134.63 25,737.94 18,531.32 15,957.52 12,611.59 9,780.42 10,809.94
22,092.71 25,689.20 18,496.22 15,927.30 12,587.71 9,761.89 10,789.47
22,050.56 25,640.18 18,460.93 15,896.91 12,563.69 9,743.27 10,768.88
22,008.17 25,590.89 18,425.45 15,866.35 12,539.54 9,724.54 10,748.18
21,965.54 25,541.33 18,389.76 15,835.62 12,515.25 9,705.70 10,727.36
21,922.68 25,491.48 18,353.87 15,804.72 12,490.83 9,686.76 10,706.43
21,879.57 25,441.36 18,317.78 15,773.64 12,466.27 9,667.72 10,685.38
21,836.22 25,390.95 18,281.49 15,742.39 12,441.57 9,648.56 10,664.20
21,792.63 25,340.26 18,244.99 15,710.96 12,416.73 9,629.30 10,642.92
21,748.79 25,289.29 18,208.29 15,679.36 12,391.75 9,609.93 10,621.51
21,704.71 25,238.03 18,171.38 15,647.58 12,366.63 9,590.45 10,599.98
21,660.37 25,186.48 18,134.27 15,615.62 12,341.38 9,570.86 10,578.33
21,615.79 25,134.64 18,096.94 15,583.48 12,315.98 9,551.16 10,556.55
21,570.96 25,082.51 18,059.41 15,551.16 12,290.43 9,531.36 10,534.66
21,525.88 25,030.09 18,021.67 15,518.66 12,264.75 9,511.44 10,512.64
21,480.55 24,977.38 17,983.71 15,485.97 12,238.92 9,491.40 10,490.50
21,434.96 24,924.37 17,945.55 15,453.11 12,212.94 9,471.26 10,468.24
21,389.11 24,871.06 17,907.16 15,420.06 12,186.82 9,451.00 10,445.85
21,343.01 24,817.45 17,868.56 15,386.82 12,160.55 9,430.63 10,423.33
21,296.64 24,763.54 17,829.75 15,353.39 12,134.13 9,410.14 10,400.69
21,250.02 24,709.32 17,790.72 15,319.78 12,107.57 9,389.54 10,377.92
21,203.14 24,654.81 17,751.46 15,285.98 12,080.86 9,368.83 10,355.02
21,155.99 24,599.98 17,711.99 15,251.99 12,053.99 9,347.99 10,332.00
21,108.57 24,544.85 17,672.30 15,217.81 12,026.98 9,327.04 10,308.84
21,060.90 24,489.41 17,632.38 15,183.44 11,999.81 9,305.98 10,285.56
21,012.95 24,433.66 17,592.24 15,148.87 11,972.49 9,284.79 10,262.14
20,964.73 24,377.59 17,551.87 15,114.11 11,945.02 9,263.49 10,238.59
20,916.25 24,321.21 17,511.28 15,079.15 11,917.40 9,242.06 10,214.91
20,867.49 24,264.52 17,470.45 15,044.00 11,889.61 9,220.52 10,191.10
20,818.45 24,207.50 17,429.40 15,008.65 11,861.68 9,198.85 10,167.16
20,769.15 24,150.17 17,388.12 14,973.10 11,833.58 9,177.06 10,143.08
20,719.56 24,092.51 17,346.61 14,937.36 11,805.33 9,155.15 10,118.86
20,669.70 24,034.53 17,304.86 14,901.41 11,776.92 9,133.12 10,094.51
20,619.55 23,976.22 17,262.88 14,865.26 11,748.35 9,110.96 10,070.02
20,569.13 23,917.59 17,220.67 14,828.91 11,719.62 9,088.68 10,045.39
20,518.42 23,858.63 17,178.21 14,792.35 11,690.73 9,066.28 10,020.63
20,467.43 23,799.33 17,135.52 14,755.59 11,661.67 9,043.75 9,995.72
20,416.15 23,739.70 17,092.59 14,718.62 11,632.46 9,021.09 9,970.68
20,364.58 23,679.74 17,049.42 14,681.44 11,603.07 8,998.30 9,945.50
20,312.72 23,619.44 17,006.00 14,644.05 11,573.53 8,975.39 9,920.17
20,260.57 23,558.80 16,962.34 14,606.46 11,543.81 8,952.35 9,894.70
20,208.13 23,497.83 16,918.44 14,568.65 11,513.94 8,929.17 9,869.09
20,155.40 23,436.51 16,874.29 14,530.63 11,483.89 8,905.87 9,843.34
20,102.36 23,374.84 16,829.89 14,492.40 11,453.67 8,882.44 9,817.44
20,049.03 23,312.83 16,785.24 14,453.95 11,423.29 8,858.87 9,791.39
19,995.40 23,250.47 16,740.34 14,415.29 11,392.73 8,835.18 9,765.20
19,941.47 23,187.76 16,695.19 14,376.41 11,362.00 8,811.35 9,738.86
19,887.24 23,124.70 16,649.78 14,337.31 11,331.10 8,787.38 9,712.38
19,832.70 23,061.28 16,604.12 14,297.99 11,300.03 8,763.29 9,685.74
19,777.86 22,997.51 16,558.21 14,258.46 11,268.78 8,739.05 9,658.96
19,722.71 22,933.38 16,512.03 14,218.69 11,237.36 8,714.68 9,632.02
19,667.24 22,868.89 16,465.60 14,178.71 11,205.76 8,690.18 9,604.94
19,611.47 22,804.04 16,418.91 14,138.50 11,173.98 8,665.53 9,577.70
19,555.38 22,738.82 16,371.95 14,098.07 11,142.02 8,640.75 9,550.31
19,498.98 22,673.23 16,324.73 14,057.41 11,109.89 8,615.83 9,522.76
19,442.26 22,607.28 16,277.25 14,016.52 11,077.57 8,590.77 9,495.06
19,385.23 22,540.96 16,229.49 13,975.40 11,045.07 8,565.57 9,467.21
19,327.87 22,474.27 16,181.47 13,934.05 11,012.39 8,540.22 9,439.20
19,270.19 22,407.20 16,133.18 13,892.46 10,979.53 8,514.74 9,411.03
<CAPTION>
89 90 91 92 93 94 95
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK
OH OH OH OH OR OR PA
- ------------------------------------------------------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,613.35 14,261.61 13,613.35 15,817.42 12,446.49 31,634.84 13,717.08
13,588.33 14,235.40 13,588.33 15,788.35 12,423.62 31,576.69 13,691.86
13,563.17 14,209.04 13,563.17 15,759.11 12,400.61 31,518.22 13,666.51
13,537.87 14,182.53 13,537.87 15,729.71 12,377.48 31,459.42 13,641.01
13,512.42 14,155.87 13,512.42 15,700.14 12,354.21 31,400.29 13,615.37
13,486.83 14,129.06 13,486.83 15,670.41 12,330.82 31,340.82 13,589.59
13,461.10 14,102.11 13,461.10 15,640.51 12,307.29 31,281.03 13,563.66
13,435.22 14,075.00 13,435.22 15,610.45 12,283.63 31,220.89 13,537.59
13,409.20 14,047.73 13,409.20 15,580.21 12,259.84 31,160.42 13,511.37
13,383.03 14,020.32 13,383.03 15,549.81 12,235.91 31,099.61 13,485.00
13,356.72 13,992.75 13,356.72 15,519.23 12,211.85 31,038.46 13,458.48
13,330.25 13,965.03 13,330.25 15,488.48 12,187.66 30,976.96 13,431.82
13,303.64 13,937.15 13,303.64 15,457.56 12,163.33 30,915.12 13,405.00
13,276.88 13,909.11 13,276.88 15,426.47 12,138.86 30,852.93 13,378.04
13,249.97 13,880.92 13,249.97 15,395.20 12,114.25 30,790.40 13,350.92
13,222.90 13,852.57 13,222.90 15,363.75 12,089.51 30,727.51 13,323.65
13,195.69 13,824.06 13,195.69 15,332.13 12,064.63 30,664.27 13,296.23
13,168.32 13,795.39 13,168.32 15,300.33 12,039.61 30,600.67 13,268.65
13,140.80 13,766.56 13,140.80 15,268.36 12,014.45 30,536.72 13,240.92
13,113.13 13,737.56 13,113.13 15,236.20 11,989.14 30,472.40 13,213.04
13,085.29 13,708.41 13,085.29 15,203.86 11,963.70 30,407.73 13,184.99
13,057.31 13,679.09 13,057.31 15,171.35 11,938.11 30,342.69 13,156.79
13,029.16 13,649.60 13,029.16 15,138.64 11,912.38 30,277.29 13,128.43
13,000.86 13,619.95 13,000.86 15,105.76 11,886.50 30,211.52 13,099.91
12,972.40 13,590.13 12,972.40 15,072.69 11,860.48 30,145.38 13,071.24
12,943.78 13,560.15 12,943.78 15,039.43 11,834.31 30,078.87 13,042.40
12,914.99 13,530.00 12,914.99 15,005.99 11,807.99 30,011.98 13,013.40
12,886.05 13,499.67 12,886.05 14,972.36 11,781.53 29,944.72 12,984.23
12,856.94 13,469.18 12,856.94 14,938.54 11,754.92 29,877.08 12,954.90
12,827.67 13,438.52 12,827.67 14,904.53 11,728.16 29,809.07 12,925.41
12,798.24 13,407.68 12,798.24 14,870.33 11,701.25 29,740.67 12,895.75
12,768.64 13,376.67 12,768.64 14,835.94 11,674.18 29,671.88 12,865.93
12,738.87 13,345.49 12,738.87 14,801.36 11,646.97 29,602.71 12,835.93
12,708.94 13,314.13 12,708.94 14,766.58 11,619.60 29,533.16 12,805.77
12,678.84 13,282.60 12,678.84 14,731.60 11,592.08 29,463.21 12,775.44
12,648.57 13,250.89 12,648.57 14,696.43 11,564.41 29,392.86 12,744.94
12,618.13 13,219.00 12,618.13 14,661.06 11,536.58 29,322.13 12,714.27
12,587.52 13,186.93 12,587.52 14,625.50 11,508.59 29,250.99 12,683.43
12,556.74 13,154.68 12,556.74 14,589.73 11,480.44 29,179.46 12,652.41
12,525.78 13,122.25 12,525.78 14,553.76 11,452.14 29,107.52 12,621.22
12,494.65 13,089.64 12,494.65 14,517.59 11,423.68 29,035.19 12,589.85
12,463.35 13,056.84 12,463.35 14,481.22 11,395.06 28,962.44 12,558.31
12,431.87 13,023.86 12,431.87 14,444.64 11,366.28 28,889.29 12,526.59
12,400.21 12,990.70 12,400.21 14,407.86 11,337.33 28,815.72 12,494.69
12,368.37 12,957.35 12,368.37 14,370.87 11,308.23 28,741.74 12,462.61
12,336.36 12,923.81 12,336.36 14,333.67 11,278.96 28,667.35 12,430.35
12,304.17 12,890.08 12,304.17 14,296.27 11,249.52 28,592.54 12,397.91
12,271.79 12,856.17 12,271.79 14,258.65 11,219.92 28,517.31 12,365.29
12,239.24 12,822.06 12,239.24 14,220.83 11,190.16 28,441.65 12,332.49
12,206.50 12,787.76 12,206.50 14,182.79 11,160.23 28,365.57 12,299.50
12,173.58 12,753.27 12,173.58 14,144.53 11,130.13 28,289.07 12,266.33
12,140.47 12,718.59 12,140.47 14,106.07 11,099.86 28,212.13 12,232.97
12,107.17 12,683.71 12,107.17 14,067.38 11,069.42 28,134.76 12,199.42
12,073.69 12,648.63 12,073.69 14,028.48 11,038.81 28,056.96 12,165.69
12,040.03 12,613.36 12,040.03 13,989.36 11,008.02 27,978.72 12,131.76
12,006.17 12,577.89 12,006.17 13,950.02 10,977.07 27,900.04 12,097.64
11,972.12 12,542.22 11,972.12 13,910.46 10,945.94 27,820.92 12,063.34
11,937.88 12,506.35 11,937.88 13,870.68 10,914.63 27,741.36 12,028.84
11,903.45 12,470.28 11,903.45 13,830.67 10,883.15 27,661.35 11,994.14
11,868.83 12,434.01 11,868.83 13,790.44 10,851.50 27,580.89 11,959.26
11,834.01 12,397.53 11,834.01 13,749.99 10,819.66 27,499.97 11,924.17
11,798.99 12,360.85 11,798.99 13,709.30 10,787.65 27,418.61 11,888.89
11,763.78 12,323.96 11,763.78 13,668.39 10,755.46 27,336.78 11,853.41
<CAPTION>
96 97 98 99 100
-- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------
PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA TN UT VA VA
- ---------------------------------------------------------------------------------------------
2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
13,302.19 10,060.92 17,632.54 13,483.70 12,446.49
13,277.74 10,042.43 17,600.13 13,458.92 12,423.62
13,253.15 10,023.83 17,567.54 13,433.99 12,400.61
13,228.43 10,005.13 17,534.76 13,408.93 12,377.48
13,203.56 9,986.32 17,501.80 13,383.73 12,354.21
13,178.56 9,967.41 17,468.66 13,358.38 12,330.82
13,153.41 9,948.39 17,435.33 13,332.89 12,307.29
13,128.13 9,929.27 17,401.81 13,307.26 12,283.63
13,102.70 9,910.04 17,368.11 13,281.49 12,259.84
13,077.13 9,890.70 17,334.21 13,255.57 12,235.91
13,051.42 9,871.25 17,300.13 13,229.51 12,211.85
13,025.56 9,851.69 17,265.85 13,203.29 12,187.66
12,999.55 9,832.02 17,231.38 13,176.94 12,163.33
12,973.40 9,812.25 17,196.72 13,150.43 12,138.86
12,947.11 9,792.36 17,161.86 13,123.77 12,114.25
12,920.66 9,772.36 17,126.81 13,096.97 12,089.51
12,894.07 9,752.24 17,091.56 13,070.01 12,064.63
12,867.33 9,732.02 17,056.11 13,042.91 12,039.61
12,840.44 9,711.68 17,020.47 13,015.65 12,014.45
12,813.39 9,691.22 16,984.62 12,988.24 11,989.14
12,786.20 9,670.66 16,948.57 12,960.67 11,963.70
12,758.85 9,649.97 16,912.32 12,932.95 11,938.11
12,731.35 9,629.17 16,875.87 12,905.07 11,912.38
12,703.69 9,608.25 16,839.21 12,877.04 11,886.50
12,675.88 9,587.22 16,802.34 12,848.85 11,860.48
12,647.91 9,566.07 16,765.27 12,820.50 11,834.31
12,619.79 9,544.80 16,727.99 12,791.99 11,807.99
12,591.51 9,523.41 16,690.50 12,763.32 11,781.53
12,563.07 9,501.89 16,652.80 12,734.49 11,754.92
12,534.47 9,480.26 16,614.89 12,705.50 11,728.16
12,505.70 9,458.51 16,576.77 12,676.35 11,701.25
12,476.78 9,436.63 16,538.43 12,647.03 11,674.18
12,447.70 9,414.64 16,499.88 12,617.55 11,646.97
12,418.45 9,392.51 16,461.11 12,587.90 11,619.60
12,389.03 9,370.27 16,422.12 12,558.09 11,592.08
12,359.46 9,347.90 16,382.91 12,528.10 11,564.41
12,329.71 9,325.40 16,343.48 12,497.95 11,536.58
12,299.80 9,302.78 16,303.84 12,467.63 11,508.59
12,269.72 9,280.03 16,263.96 12,437.15 11,480.44
12,239.47 9,257.15 16,223.87 12,406.48 11,452.14
12,209.06 9,234.14 16,183.55 12,375.65 11,423.68
12,178.47 9,211.01 16,143.00 12,344.64 11,395.06
12,147.71 9,187.74 16,102.23 12,313.46 11,366.28
12,116.77 9,164.35 16,061.22 12,282.11 11,337.33
12,085.67 9,140.82 16,019.99 12,250.58 11,308.23
12,054.38 9,117.16 15,978.53 12,218.87 11,278.96
12,022.93 9,093.37 15,936.83 12,186.98 11,249.52
11,991.29 9,069.44 15,894.90 12,154.92 11,219.92
11,959.48 9,045.38 15,852.73 12,122.67 11,190.16
11,927.49 9,021.18 15,810.32 12,090.24 11,160.23
11,895.32 8,996.85 15,767.68 12,057.63 11,130.13
11,862.97 8,972.38 15,724.80 12,024.84 11,099.86
11,830.44 8,947.78 15,681.67 11,991.87 11,069.42
11,797.72 8,923.04 15,638.31 11,958.70 11,038.81
11,764.82 8,898.15 15,594.70 11,925.36 11,008.02
11,731.74 8,873.13 15,550.85 11,891.82 10,977.07
11,698.47 8,847.97 15,506.75 11,858.10 10,945.94
11,665.01 8,822.66 15,462.40 11,824.18 10,914.63
11,631.37 8,797.22 15,417.80 11,790.08 10,883.15
11,597.54 8,771.63 15,372.96 11,755.79 10,851.50
11,563.51 8,745.90 15,327.86 11,721.30 10,819.66
11,529.30 8,720.02 15,282.51 11,686.62 10,787.65
11,494.89 8,693.99 15,236.90 11,651.74 10,755.46
</TABLE>
Page 26
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,212.19 22,339.75 16,084.62 13,850.65 10,946.48 8,489.11 9,382.70
19,153.86 22,271.93 16,035.79 13,808.60 10,913.25 8,463.33 9,354.21
19,095.20 22,203.72 15,986.68 13,766.31 10,879.83 8,437.41 9,325.57
19,036.22 22,135.14 15,937.30 13,723.78 10,846.22 8,411.35 9,296.76
18,976.90 22,066.16 15,887.64 13,681.02 10,812.42 8,385.14 9,267.79
18,917.25 21,996.80 15,837.70 13,638.02 10,778.43 8,358.78 9,238.66
18,857.26 21,927.05 15,787.48 13,594.77 10,744.26 8,332.28 9,209.37
18,796.94 21,856.91 15,736.98 13,551.28 10,709.89 8,305.63 9,179.91
18,736.28 21,786.37 15,686.19 13,507.55 10,675.32 8,278.82 9,150.28
18,675.28 21,715.44 15,635.12 13,463.57 10,640.57 8,251.87 9,120.49
18,613.94 21,644.11 15,583.76 13,419.35 10,605.62 8,224.76 9,090.53
18,552.25 21,572.38 15,532.12 13,374.88 10,570.47 8,197.50 9,060.40
18,490.21 21,500.25 15,480.18 13,330.15 10,535.12 8,170.09 9,030.11
18,427.83 21,427.71 15,427.95 13,285.18 10,499.58 8,142.53 8,999.64
18,365.10 21,354.76 15,375.43 13,239.95 10,463.83 8,114.81 8,969.00
18,302.01 21,281.41 15,322.61 13,194.47 10,427.89 8,086.93 8,938.19
18,238.57 21,207.64 15,269.50 13,148.74 10,391.74 8,058.90 8,907.21
18,174.77 21,133.46 15,216.09 13,102.74 10,355.39 8,030.71 8,876.06
18,110.62 21,058.86 15,162.38 13,056.49 10,318.84 8,002.37 8,844.72
18,046.10 20,983.84 15,108.37 13,009.98 10,282.08 7,973.86 8,813.22
17,981.23 20,908.40 15,054.05 12,963.21 10,245.12 7,945.19 8,781.53
17,915.98 20,832.54 14,999.43 12,916.17 10,207.94 7,916.36 8,749.67
17,850.38 20,756.25 14,944.50 12,868.88 10,170.56 7,887.37 8,717.63
17,784.40 20,679.53 14,889.27 12,821.31 10,132.97 7,858.22 8,685.41
17,718.05 20,602.39 14,833.72 12,773.48 10,095.17 7,828.91 8,653.01
17,651.33 20,524.80 14,777.86 12,725.38 10,057.15 7,799.43 8,620.42
17,584.24 20,446.79 14,721.69 12,677.01 10,018.93 7,769.78 8,587.65
17,516.77 20,368.33 14,665.20 12,628.37 9,980.48 7,739.97 8,554.70
17,448.92 20,289.44 14,608.40 12,579.45 9,941.82 7,709.99 8,521.57
17,380.69 20,210.10 14,551.27 12,530.26 9,902.95 7,679.84 8,488.25
17,312.07 20,130.31 14,493.83 12,480.80 9,863.85 7,649.52 8,454.74
17,243.07 20,050.08 14,436.06 12,431.05 9,824.54 7,619.03 8,421.04
17,173.68 19,969.40 14,377.97 12,381.03 9,785.01 7,588.37 8,387.15
17,103.91 19,888.26 14,319.55 12,330.72 9,745.25 7,557.54 8,353.07
17,033.74 19,806.67 14,260.81 12,280.14 9,705.27 7,526.54 8,318.81
16,963.18 19,724.62 14,201.73 12,229.27 9,665.07 7,495.36 8,284.35
16,892.22 19,642.11 14,142.32 12,178.11 9,624.64 7,464.00 8,249.69
16,820.86 19,559.14 14,082.58 12,126.67 9,583.98 7,432.47 8,214.84
16,749.10 19,475.70 14,022.50 12,074.93 9,543.09 7,400.77 8,179.80
16,676.94 19,391.79 13,962.09 12,022.91 9,501.98 7,368.88 8,144.56
16,604.37 19,307.41 13,901.34 11,970.60 9,460.63 7,336.82 8,109.12
16,531.40 19,222.56 13,840.24 11,917.99 9,419.05 7,304.57 8,073.48
16,458.02 19,137.23 13,778.81 11,865.08 9,377.24 7,272.15 8,037.64
16,384.22 19,051.42 13,717.02 11,811.88 9,335.20 7,239.54 8,001.60
16,310.01 18,965.13 13,654.89 11,758.38 9,292.91 7,206.75 7,965.36
16,235.38 18,878.35 13,592.42 11,704.58 9,250.39 7,173.77 7,928.91
16,160.34 18,791.09 13,529.59 11,650.48 9,207.63 7,140.61 7,892.26
16,084.87 18,703.34 13,466.40 11,596.07 9,164.64 7,107.27 7,855.41
16,008.98 18,615.09 13,402.87 11,541.36 9,121.40 7,073.73 7,818.34
15,932.66 18,526.35 13,338.97 11,486.34 9,077.91 7,040.01 7,781.07
15,855.92 18,437.11 13,274.72 11,431.01 9,034.18 7,006.10 7,743.59
15,778.74 18,347.37 13,210.11 11,375.37 8,990.21 6,972.00 7,705.90
15,701.13 18,257.12 13,145.13 11,319.42 8,945.99 6,937.71 7,668.00
15,623.08 18,166.37 13,079.79 11,263.15 8,901.52 6,903.22 7,629.88
15,544.60 18,075.11 13,014.08 11,206.57 8,856.81 6,868.54 7,591.55
15,465.67 17,983.34 12,948.00 11,149.67 8,811.84 6,833.67 7,553.01
15,386.30 17,891.05 12,881.56 11,092.45 8,766.61 6,798.60 7,514.24
15,306.49 17,798.24 12,814.73 11,034.91 8,721.14 6,763.33 7,475.26
15,226.23 17,704.91 12,747.54 10,977.05 8,675.41 6,727.87 7,436.07
15,145.51 17,611.06 12,679.96 10,918.86 8,629.42 6,692.20 7,396.65
15,064.35 17,516.68 12,612.01 10,860.34 8,583.17 6,656.34 7,357.01
14,982.72 17,421.77 12,543.68 10,801.50 8,536.67 6,620.27 7,317.15
14,900.64 17,326.33 12,474.96 10,742.32 8,489.90 6,584.00 7,277.06
<CAPTION>
89 90 91 92 93 94 95
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK
OH OH OH OH OR OR PA
- ------------------------------------------------------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
11,728.37 12,286.87 11,728.37 13,627.25 10,723.08 27,254.50 11,817.73
11,692.76 12,249.56 11,692.76 13,585.88 10,690.53 27,171.75 11,781.85
11,656.96 12,212.05 11,656.96 13,544.27 10,657.79 27,088.54 11,745.77
11,620.95 12,174.33 11,620.95 13,502.43 10,624.87 27,004.87 11,709.49
11,584.74 12,136.39 11,584.74 13,460.36 10,591.76 26,920.72 11,673.00
11,548.32 12,098.24 11,548.32 13,418.05 10,558.47 26,836.10 11,636.31
11,511.70 12,059.88 11,511.70 13,375.50 10,524.99 26,751.00 11,599.41
11,474.88 12,021.30 11,474.88 13,332.72 10,491.32 26,665.43 11,562.31
11,437.85 11,982.51 11,437.85 13,289.69 10,457.46 26,579.38 11,524.99
11,400.61 11,943.50 11,400.61 13,246.42 10,423.41 26,492.84 11,487.47
11,363.16 11,904.26 11,363.16 13,202.91 10,389.17 26,405.82 11,449.74
11,325.50 11,864.81 11,325.50 13,159.15 10,354.74 26,318.31 11,411.79
11,287.63 11,825.14 11,287.63 13,115.15 10,320.12 26,230.30 11,373.63
11,249.55 11,785.24 11,249.55 13,070.90 10,285.30 26,141.81 11,335.26
11,211.25 11,745.12 11,211.25 13,026.41 10,250.29 26,052.81 11,296.67
11,172.74 11,704.78 11,172.74 12,981.66 10,215.08 25,963.32 11,257.87
11,134.01 11,664.20 11,134.01 12,936.66 10,179.67 25,873.32 11,218.84
11,095.07 11,623.40 11,095.07 12,891.41 10,144.06 25,782.82 11,179.60
11,055.90 11,582.38 11,055.90 12,845.90 10,108.25 25,691.81 11,140.14
11,016.52 11,541.12 11,016.52 12,800.14 10,072.24 25,600.29 11,100.45
10,976.91 11,499.62 10,976.91 12,754.13 10,036.03 25,508.25 11,060.55
10,937.08 11,457.90 10,937.08 12,707.85 9,999.62 25,415.70 11,020.42
10,897.03 11,415.94 10,897.03 12,661.31 9,963.00 25,322.63 10,980.06
10,856.76 11,373.75 10,856.76 12,614.52 9,926.18 25,229.03 10,939.48
10,816.25 11,331.32 10,816.25 12,567.46 9,889.15 25,134.91 10,898.66
10,775.52 11,288.65 10,775.52 12,520.13 9,851.91 25,040.26 10,857.62
10,734.57 11,245.74 10,734.57 12,472.54 9,814.46 24,945.08 10,816.35
10,693.38 11,202.59 10,693.38 12,424.68 9,776.80 24,849.37 10,774.85
10,651.96 11,159.19 10,651.96 12,376.56 9,738.93 24,753.12 10,733.12
10,610.30 11,115.56 10,610.30 12,328.16 9,700.85 24,656.32 10,691.15
10,568.42 11,071.68 10,568.42 12,279.49 9,662.55 24,558.99 10,648.94
10,526.30 11,027.55 10,526.30 12,230.55 9,624.04 24,461.10 10,606.50
10,483.94 10,983.17 10,483.94 12,181.33 9,585.31 24,362.67 10,563.82
10,441.34 10,938.55 10,441.34 12,131.84 9,546.37 24,263.68 10,520.89
10,398.51 10,893.67 10,398.51 12,082.07 9,507.20 24,164.14 10,477.73
10,355.43 10,848.55 10,355.43 12,032.02 9,467.82 24,064.04 10,434.33
10,312.11 10,803.17 10,312.11 11,981.69 9,428.22 23,963.38 10,390.68
10,268.55 10,757.53 10,268.55 11,931.08 9,388.39 23,862.15 10,346.79
10,224.74 10,711.64 10,224.74 11,880.18 9,348.34 23,760.35 10,302.65
10,180.69 10,665.49 10,180.69 11,828.99 9,308.06 23,657.99 10,258.26
10,136.39 10,619.08 10,136.39 11,777.52 9,267.56 23,555.04 10,213.62
10,091.84 10,572.41 10,091.84 11,725.76 9,226.83 23,451.52 10,168.74
10,047.05 10,525.48 10,047.05 11,673.71 9,185.87 23,347.42 10,123.60
10,002.00 10,478.28 10,002.00 11,621.37 9,144.68 23,242.73 10,078.20
9,956.69 10,430.82 9,956.69 11,568.73 9,103.26 23,137.46 10,032.56
9,911.14 10,383.10 9,911.14 11,515.80 9,061.61 23,031.59 9,986.65
9,865.32 10,335.10 9,865.32 11,462.57 9,019.72 22,925.13 9,940.49
9,819.25 10,286.84 9,819.25 11,409.04 8,977.60 22,818.07 9,894.07
9,772.92 10,238.30 9,772.92 11,355.21 8,935.24 22,710.41 9,847.39
9,726.34 10,189.50 9,726.34 11,301.07 8,892.65 22,602.15 9,800.44
9,679.48 10,140.41 9,679.48 11,246.64 8,849.81 22,493.28 9,753.23
9,632.37 10,091.06 9,632.37 11,191.90 8,806.74 22,383.79 9,705.76
9,584.99 10,041.42 9,584.99 11,136.85 8,763.42 22,273.69 9,658.02
9,537.35 9,991.51 9,537.35 11,081.49 8,719.86 22,162.98 9,610.01
9,489.44 9,941.31 9,489.44 11,025.82 8,676.05 22,051.64 9,561.74
9,441.25 9,890.84 9,441.25 10,969.84 8,632.00 21,939.67 9,513.19
9,392.80 9,840.08 9,392.80 10,913.54 8,587.70 21,827.08 9,464.37
9,344.08 9,789.04 9,344.08 10,856.93 8,543.16 21,713.86 9,415.27
9,295.08 9,737.71 9,295.08 10,800.00 8,498.36 21,599.99 9,365.90
9,245.81 9,686.09 9,245.81 10,742.75 8,453.31 21,485.49 9,316.25
9,196.26 9,634.18 9,196.26 10,685.18 8,408.01 21,370.35 9,266.33
9,146.43 9,581.98 9,146.43 10,627.28 8,362.45 21,254.56 9,216.12
9,096.32 9,529.48 9,096.32 10,569.06 8,316.64 21,138.12 9,165.63
<CAPTION>
96 97 98 99 100
-- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------
PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA TN UT VA VA
- ---------------------------------------------------------------------------------------------
2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
11,460.29 8,667.83 15,191.04 11,616.67 10,723.08
11,425.50 8,641.51 15,144.92 11,581.40 10,690.53
11,390.51 8,615.05 15,098.54 11,545.94 10,657.79
11,355.32 8,588.43 15,051.90 11,510.27 10,624.87
11,319.94 8,561.67 15,004.99 11,474.40 10,591.76
11,284.36 8,534.76 14,957.83 11,438.34 10,558.47
11,248.58 8,507.70 14,910.40 11,402.07 10,524.99
11,212.59 8,480.48 14,862.70 11,365.59 10,491.32
11,176.41 8,453.11 14,814.74 11,328.91 10,457.46
11,140.02 8,425.59 14,766.50 11,292.03 10,423.41
11,103.43 8,397.92 14,718.00 11,254.94 10,389.17
11,066.63 8,370.09 14,669.22 11,217.64 10,354.74
11,029.63 8,342.10 14,620.17 11,180.13 10,320.12
10,992.41 8,313.95 14,570.84 11,142.41 10,285.30
10,954.99 8,285.65 14,521.24 11,104.48 10,250.29
10,917.36 8,257.19 14,471.36 11,066.33 10,215.08
10,879.52 8,228.57 14,421.20 11,027.97 10,179.67
10,841.46 8,199.78 14,370.75 10,989.40 10,144.06
10,803.19 8,170.84 14,320.03 10,950.60 10,108.25
10,764.71 8,141.73 14,269.01 10,911.60 10,072.24
10,726.01 8,112.46 14,217.72 10,872.37 10,036.03
10,687.09 8,083.03 14,166.13 10,832.92 9,999.62
10,647.96 8,053.43 14,114.25 10,793.25 9,963.00
10,608.60 8,023.66 14,062.09 10,753.36 9,926.18
10,569.02 7,993.73 14,009.63 10,713.24 9,889.15
10,529.22 7,963.63 13,956.87 10,672.90 9,851.91
10,489.20 7,933.36 13,903.82 10,632.33 9,814.46
10,448.95 7,902.91 13,850.47 10,591.53 9,776.80
10,408.48 7,872.30 13,796.82 10,550.51 9,738.93
10,367.78 7,841.52 13,742.87 10,509.25 9,700.85
10,326.85 7,810.56 13,688.62 10,467.76 9,662.55
10,285.69 7,779.43 13,634.06 10,426.04 9,624.04
10,244.30 7,748.13 13,579.20 10,384.09 9,585.31
10,202.68 7,716.65 13,524.02 10,341.90 9,546.37
10,160.82 7,684.99 13,468.54 10,299.47 9,507.20
10,118.73 7,653.16 13,412.75 10,256.80 9,467.82
10,076.40 7,621.14 13,356.64 10,213.90 9,428.22
10,033.84 7,588.95 13,300.22 10,170.75 9,388.39
9,991.03 7,556.57 13,243.48 10,127.36 9,348.34
9,947.99 7,524.02 13,186.42 10,083.73 9,308.06
9,904.70 7,491.28 13,129.04 10,039.85 9,267.56
9,861.17 7,458.35 13,071.34 9,995.73 9,226.83
9,817.40 7,425.25 13,013.32 9,951.36 9,185.87
9,773.38 7,391.95 12,954.97 9,906.74 9,144.68
9,729.11 7,358.47 12,896.29 9,861.87 9,103.26
9,684.59 7,324.80 12,837.28 9,816.74 9,061.61
9,639.83 7,290.94 12,777.94 9,771.37 9,019.72
9,594.81 7,256.90 12,718.27 9,725.73 8,977.60
9,549.54 7,222.66 12,658.27 9,679.85 8,935.24
9,504.02 7,188.23 12,597.92 9,633.70 8,892.65
9,458.24 7,153.60 12,537.24 9,587.30 8,849.81
9,412.20 7,118.78 12,476.21 9,540.63 8,806.74
9,365.90 7,083.77 12,414.85 9,493.70 8,763.42
9,319.35 7,048.55 12,353.14 9,446.51 8,719.86
9,272.53 7,013.14 12,291.08 9,399.06 8,676.05
9,225.45 6,977.54 12,228.67 9,351.33 8,632.00
9,178.11 6,941.73 12,165.92 9,303.34 8,587.70
9,130.50 6,905.72 12,102.81 9,255.08 8,543.16
9,082.62 6,869.51 12,039.34 9,206.55 8,498.36
9,034.47 6,833.09 11,975.52 9,157.75 8,453.31
8,986.06 6,796.47 11,911.35 9,108.67 8,408.01
8,937.37 6,759.65 11,846.81 9,059.32 8,362.45
8,888.40 6,722.62 11,781.91 9,009.69 8,316.64
</TABLE>
Page 27
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
14,818.10 17,230.35 12,405.85 10,682.82 8,442.87 6,547.53 7,236.75
14,735.10 17,133.83 12,336.36 10,622.98 8,395.58 6,510.86 7,196.21
14,651.62 17,036.77 12,266.48 10,562.80 8,348.02 6,473.97 7,155.45
14,567.68 16,939.17 12,196.20 10,502.28 8,300.19 6,436.88 7,114.45
14,483.27 16,841.01 12,125.53 10,441.43 8,252.10 6,399.58 7,073.23
14,398.39 16,742.31 12,054.46 10,380.23 8,203.73 6,362.08 7,031.77
14,313.02 16,643.05 11,983.00 10,318.69 8,155.09 6,324.36 6,990.08
14,227.18 16,543.23 11,911.13 10,256.81 8,106.19 6,286.43 6,948.16
14,140.86 16,442.86 11,838.86 10,194.57 8,057.00 6,248.29 6,906.00
14,054.05 16,341.92 11,766.18 10,131.99 8,007.54 6,209.93 6,863.61
13,966.75 16,240.41 11,693.10 10,069.05 7,957.80 6,171.36 6,820.98
13,878.97 16,138.33 11,619.60 10,005.77 7,907.78 6,132.57 6,778.10
13,790.69 16,035.68 11,545.69 9,942.12 7,857.48 6,093.56 6,734.99
13,701.91 15,932.46 11,471.37 9,878.12 7,806.90 6,054.33 6,691.63
13,612.64 15,828.65 11,396.63 9,813.76 7,756.04 6,014.89 6,648.04
13,522.86 15,724.26 11,321.47 9,749.04 7,704.89 5,975.22 6,604.19
13,432.58 15,619.28 11,245.89 9,683.96 7,653.45 5,935.33 6,560.10
13,341.80 15,513.72 11,169.88 9,618.51 7,601.72 5,895.21 6,515.76
13,250.50 15,407.56 11,093.44 9,552.69 7,549.71 5,854.87 6,471.18
13,158.69 15,300.81 11,016.58 9,486.50 7,497.40 5,814.31 6,426.34
13,066.37 15,193.45 10,939.29 9,419.94 7,444.79 5,773.51 6,381.25
12,973.53 15,085.50 10,861.56 9,353.01 7,391.89 5,732.49 6,335.91
12,880.16 14,976.93 10,783.39 9,285.70 7,338.70 5,691.23 6,290.31
12,786.27 14,867.76 10,704.79 9,218.01 7,285.20 5,649.75 6,244.46
12,691.86 14,757.97 10,625.74 9,149.94 7,231.41 5,608.03 6,198.35
12,596.91 14,647.57 10,546.25 9,081.49 7,177.31 5,566.08 6,151.98
12,501.43 14,536.55 10,466.32 9,012.66 7,122.91 5,523.89 6,105.35
12,405.42 14,424.90 10,385.93 8,943.44 7,068.20 5,481.46 6,058.46
12,308.86 14,312.63 10,305.10 8,873.83 7,013.19 5,438.80 6,011.31
12,211.77 14,199.73 10,223.81 8,803.83 6,957.87 5,395.90 5,963.89
12,114.12 14,086.19 10,142.06 8,733.44 6,902.23 5,352.75 5,916.20
12,015.93 13,972.02 10,059.85 8,662.65 6,846.29 5,309.37 5,868.25
11,917.19 13,857.20 9,977.18 8,591.46 6,790.03 5,265.74 5,820.03
11,817.90 13,741.74 9,894.05 8,519.88 6,733.45 5,221.86 5,771.53
11,718.04 13,625.63 9,810.45 8,447.89 6,676.56 5,177.74 5,722.77
11,617.63 13,508.87 9,726.39 8,375.50 6,619.35 5,133.37 5,673.73
11,516.65 13,391.45 9,641.85 8,302.70 6,561.81 5,088.75 5,624.41
11,415.10 13,273.38 9,556.83 8,229.49 6,503.95 5,043.88 5,574.82
11,312.99 13,154.64 9,471.34 8,155.87 6,445.77 4,998.76 5,524.95
11,210.30 13,035.23 9,385.37 8,081.84 6,387.26 4,953.39 5,474.80
11,107.03 12,915.15 9,298.91 8,007.39 6,328.42 4,907.76 5,424.37
11,003.19 12,794.40 9,211.97 7,932.53 6,269.26 4,861.87 5,373.65
10,898.76 12,672.97 9,124.54 7,857.24 6,209.76 4,815.73 5,322.65
10,793.74 12,550.86 9,036.62 7,781.53 6,149.92 4,769.33 5,271.36
10,688.13 12,428.06 8,948.21 7,705.40 6,089.75 4,722.66 5,219.79
10,581.94 12,304.58 8,859.30 7,628.84 6,029.24 4,675.74 5,167.92
10,475.14 12,180.40 8,769.89 7,551.85 5,968.39 4,628.55 5,115.77
10,367.75 12,055.52 8,679.97 7,474.42 5,907.20 4,581.10 5,063.32
10,259.75 11,929.94 8,589.56 7,396.56 5,845.67 4,533.38 5,010.58
10,151.14 11,803.66 8,498.63 7,318.27 5,783.79 4,485.39 4,957.54
10,041.93 11,676.66 8,407.20 7,239.53 5,721.57 4,437.13 4,904.20
9,932.10 11,548.96 8,315.25 7,160.35 5,658.99 4,388.60 4,850.56
9,821.66 11,420.53 8,222.78 7,080.73 5,596.06 4,339.80 4,796.63
9,710.59 11,291.39 8,129.80 7,000.66 5,532.78 4,290.73 4,742.39
9,598.91 11,161.52 8,036.29 6,920.14 5,469.14 4,241.38 4,687.84
9,486.59 11,030.92 7,942.26 6,839.17 5,405.15 4,191.75 4,632.99
9,373.64 10,899.59 7,847.70 6,757.74 5,340.80 4,141.84 4,577.83
9,260.06 10,767.52 7,752.61 6,675.86 5,276.08 4,091.66 4,522.36
9,145.85 10,634.70 7,656.99 6,593.52 5,211.01 4,041.19 4,466.58
9,030.99 10,501.15 7,560.83 6,510.71 5,145.56 3,990.44 4,410.48
8,915.48 10,366.84 7,464.12 6,427.44 5,079.75 3,939.40 4,354.07
8,799.33 10,231.78 7,366.88 6,343.70 5,013.57 3,888.07 4,297.35
8,682.52 10,095.96 7,269.09 6,259.49 4,947.02 3,836.46 4,240.30
<CAPTION>
89 90 91 92 93 94 95
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK
OH OH OH OH OR OR PA
- ------------------------------------------------------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,045.93 9,476.69 9,045.93 10,510.51 8,270.57 21,021.03 9,114.86
8,995.26 9,423.61 8,995.26 10,451.64 8,224.24 20,903.27 9,063.80
8,944.31 9,370.23 8,944.31 10,392.43 8,177.65 20,784.86 9,012.45
8,893.06 9,316.54 8,893.06 10,332.89 8,130.80 20,665.78 8,960.82
8,841.53 9,262.56 8,841.53 10,273.02 8,083.69 20,546.04 8,908.90
8,789.71 9,208.27 8,789.71 10,212.81 8,036.31 20,425.62 8,856.68
8,737.60 9,153.68 8,737.60 10,152.26 7,988.66 20,304.52 8,804.18
8,685.20 9,098.78 8,685.20 10,091.37 7,940.75 20,182.75 8,751.37
8,632.50 9,043.57 8,632.50 10,030.14 7,892.57 20,060.29 8,698.27
8,579.51 8,988.06 8,579.51 9,968.57 7,844.12 19,937.14 8,644.88
8,526.22 8,932.23 8,526.22 9,906.65 7,795.40 19,813.30 8,591.18
8,472.63 8,876.09 8,472.63 9,844.38 7,746.40 19,688.77 8,537.18
8,418.73 8,819.63 8,418.73 9,781.77 7,697.13 19,563.53 8,482.88
8,364.54 8,762.85 8,364.54 9,718.80 7,647.58 19,437.60 8,428.27
8,310.04 8,705.76 8,310.04 9,655.48 7,597.75 19,310.95 8,373.36
8,255.24 8,648.35 8,255.24 9,591.80 7,547.65 19,183.60 8,318.14
8,200.13 8,590.61 8,200.13 9,527.76 7,497.26 19,055.53 8,262.60
8,144.70 8,532.55 8,144.70 9,463.37 7,446.59 18,926.74 8,206.76
8,088.97 8,474.16 8,088.97 9,398.61 7,395.63 18,797.22 8,150.60
8,032.92 8,415.45 8,032.92 9,333.49 7,344.39 18,666.98 8,094.13
7,976.56 8,356.40 7,976.56 9,268.01 7,292.86 18,536.01 8,037.34
7,919.89 8,297.03 7,919.89 9,202.15 7,241.04 18,404.31 7,980.23
7,862.89 8,237.32 7,862.89 9,135.93 7,188.93 18,271.86 7,922.80
7,805.58 8,177.27 7,805.58 9,069.33 7,136.53 18,138.67 7,865.05
7,747.94 8,116.89 7,747.94 9,002.36 7,083.83 18,004.73 7,806.97
7,689.98 8,056.17 7,689.98 8,935.02 7,030.84 17,870.04 7,748.57
7,631.69 7,995.11 7,631.69 8,867.30 6,977.54 17,734.59 7,689.84
7,573.08 7,933.70 7,573.08 8,799.19 6,923.95 17,598.38 7,630.78
7,514.13 7,871.95 7,514.13 8,730.71 6,870.06 17,461.41 7,571.38
7,454.86 7,809.85 7,454.86 8,661.83 6,815.87 17,323.67 7,511.66
7,395.25 7,747.41 7,395.25 8,592.58 6,761.37 17,185.15 7,451.60
7,335.31 7,684.61 7,335.31 8,522.93 6,706.57 17,045.86 7,391.20
7,275.03 7,621.46 7,275.03 8,452.89 6,651.46 16,905.78 7,330.46
7,214.41 7,557.96 7,214.41 8,382.46 6,596.04 16,764.92 7,269.38
7,153.46 7,494.10 7,153.46 8,311.63 6,540.30 16,623.27 7,207.96
7,092.16 7,429.88 7,092.16 8,240.41 6,484.26 16,480.82 7,146.19
7,030.51 7,365.30 7,030.51 8,168.79 6,427.90 16,337.57 7,084.08
6,968.52 7,300.36 6,968.52 8,096.76 6,371.22 16,193.52 7,021.62
6,906.18 7,235.05 6,906.18 8,024.33 6,314.23 16,048.66 6,958.80
6,843.50 7,169.38 6,843.50 7,951.49 6,256.91 15,902.98 6,895.64
6,780.46 7,103.34 6,780.46 7,878.24 6,199.27 15,756.49 6,832.12
6,717.06 7,036.92 6,717.06 7,804.59 6,141.31 15,609.17 6,768.24
6,653.31 6,970.14 6,653.31 7,730.51 6,083.03 15,461.03 6,704.00
6,589.20 6,902.98 6,589.20 7,656.03 6,024.41 15,312.05 6,639.41
6,524.73 6,835.44 6,524.73 7,581.12 5,965.47 15,162.24 6,574.45
6,459.90 6,767.52 6,459.90 7,505.79 5,906.20 15,011.58 6,509.12
6,394.71 6,699.22 6,394.71 7,430.04 5,846.59 14,860.08 6,443.43
6,329.15 6,630.54 6,329.15 7,353.87 5,786.65 14,707.73 6,377.37
6,263.22 6,561.47 6,263.22 7,277.26 5,726.37 14,554.53 6,310.94
6,196.92 6,492.01 6,196.92 7,200.23 5,665.76 14,400.46 6,244.14
6,130.25 6,422.17 6,130.25 7,122.76 5,604.80 14,245.53 6,176.96
6,063.20 6,351.93 6,063.20 7,044.86 5,543.50 14,089.73 6,109.40
5,995.78 6,281.30 5,995.78 6,966.53 5,481.86 13,933.05 6,041.46
5,927.98 6,210.27 5,927.98 6,887.75 5,419.87 13,775.49 5,973.15
5,859.80 6,138.84 5,859.80 6,808.53 5,357.53 13,617.05 5,904.44
5,791.23 6,067.01 5,791.23 6,728.86 5,294.84 13,457.72 5,835.36
5,722.28 5,994.77 5,722.28 6,648.75 5,231.80 13,297.50 5,765.88
5,652.95 5,922.14 5,652.95 6,568.18 5,168.41 13,136.37 5,696.02
5,583.22 5,849.09 5,583.22 6,487.17 5,104.66 12,974.34 5,625.76
5,513.10 5,775.63 5,513.10 6,405.70 5,040.55 12,811.40 5,555.11
5,442.59 5,701.76 5,442.59 6,323.77 4,976.08 12,647.54 5,484.06
5,371.68 5,627.48 5,371.68 6,241.38 4,911.25 12,482.77 5,412.61
5,300.38 5,552.78 5,300.38 6,158.53 4,846.06 12,317.07 5,340.76
<CAPTION>
96 97 98 99 100
-- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------
PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA TN UT VA VA
- ---------------------------------------------------------------------------------------------
2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8,839.17 6,685.38 11,716.64 8,959.78 8,270.57
8,789.65 6,647.93 11,651.01 8,909.59 8,224.24
8,739.86 6,610.27 11,585.01 8,859.12 8,177.65
8,689.79 6,572.40 11,518.64 8,808.37 8,130.80
8,639.44 6,534.31 11,451.89 8,757.33 8,083.69
8,588.80 6,496.02 11,384.77 8,706.00 8,036.31
8,537.88 6,457.50 11,317.28 8,654.39 7,988.66
8,486.68 6,418.78 11,249.40 8,602.48 7,940.75
8,435.19 6,379.83 11,181.15 8,550.29 7,892.57
8,383.40 6,340.67 11,112.51 8,497.80 7,844.12
8,331.33 6,301.28 11,043.48 8,445.01 7,795.40
8,278.96 6,261.67 10,974.07 8,391.93 7,746.40
8,226.30 6,221.85 10,904.27 8,338.55 7,697.13
8,173.35 6,181.79 10,834.07 8,284.88 7,647.58
8,120.10 6,141.52 10,763.48 8,230.90 7,597.75
8,066.54 6,101.01 10,692.50 8,176.61 7,547.65
8,012.69 6,060.28 10,621.12 8,122.03 7,497.26
7,958.54 6,019.32 10,549.33 8,067.13 7,446.59
7,904.08 5,978.13 10,477.14 8,011.93 7,395.63
7,849.31 5,936.71 10,404.55 7,956.42 7,344.39
7,794.24 5,895.06 10,331.55 7,900.59 7,292.86
7,738.86 5,853.17 10,258.14 7,844.46 7,241.04
7,683.17 5,811.05 10,184.32 7,788.00 7,188.93
7,627.16 5,768.69 10,110.08 7,731.23 7,136.53
7,570.84 5,726.10 10,035.43 7,674.15 7,083.83
7,514.20 5,683.26 9,960.35 7,616.74 7,030.84
7,457.25 5,640.18 9,884.86 7,559.01 6,977.54
7,399.98 5,596.86 9,808.94 7,500.95 6,923.95
7,342.38 5,553.30 9,732.59 7,442.57 6,870.06
7,284.46 5,509.50 9,655.82 7,383.86 6,815.87
7,226.22 5,465.44 9,578.61 7,324.82 6,761.37
7,167.64 5,421.14 9,500.97 7,265.45 6,706.57
7,108.74 5,376.59 9,422.90 7,205.74 6,651.46
7,049.51 5,331.80 9,344.38 7,145.70 6,596.04
6,989.95 5,286.75 9,265.43 7,085.33 6,540.30
6,930.05 5,241.44 9,186.03 7,024.61 6,484.26
6,869.81 5,195.88 9,106.19 6,963.55 6,427.90
6,809.24 5,150.07 9,025.90 6,902.15 6,371.22
6,748.33 5,104.00 8,945.15 6,840.41 6,314.23
6,687.07 5,057.67 8,863.96 6,778.32 6,256.91
6,625.47 5,011.08 8,782.31 6,715.88 6,199.27
6,563.53 4,964.23 8,700.19 6,653.09 6,141.31
6,501.23 4,917.11 8,617.62 6,589.94 6,083.03
6,438.59 4,869.73 8,534.59 6,526.45 6,024.41
6,375.60 4,822.09 8,451.09 6,462.59 5,965.47
6,312.25 4,774.18 8,367.11 6,398.38 5,906.20
6,248.54 4,725.99 8,282.67 6,333.81 5,846.59
6,184.48 4,677.54 8,197.75 6,268.87 5,786.65
6,120.06 4,628.82 8,112.36 6,203.57 5,726.37
6,055.28 4,579.82 8,026.49 6,137.90 5,665.76
5,990.13 4,530.55 7,940.13 6,071.86 5,604.80
5,924.61 4,481.00 7,853.29 6,005.46 5,543.50
5,858.73 4,431.17 7,765.96 5,938.68 5,481.86
5,792.48 4,381.06 7,678.15 5,871.52 5,419.87
5,725.86 4,330.67 7,589.83 5,803.99 5,357.53
5,658.86 4,280.00 7,501.03 5,736.08 5,294.84
5,591.49 4,229.04 7,411.72 5,667.78 5,231.80
5,523.74 4,177.80 7,321.91 5,599.11 5,168.41
5,455.60 4,126.27 7,231.60 5,530.05 5,104.66
5,387.09 4,074.45 7,140.78 5,460.60 5,040.55
5,318.19 4,022.33 7,049.45 5,390.76 4,976.08
5,248.90 3,969.93 6,957.61 5,320.52 4,911.25
5,179.22 3,917.23 6,865.25 5,249.90 4,846.06
</TABLE>
Page 28
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
8,565.06 9,959.37 7,170.75 6,174.81 4,880.09 3,784.56 4,182.94
8,446.94 9,822.02 7,071.86 6,089.65 4,812.79 3,732.37 4,125.25
8,328.15 9,683.90 6,972.41 6,004.02 4,745.11 3,679.88 4,067.24
8,208.70 9,545.00 6,872.40 5,917.90 4,677.05 3,627.10 4,008.90
8,088.58 9,405.32 6,771.83 5,831.30 4,608.61 3,574.02 3,950.24
7,967.78 9,264.86 6,670.70 5,744.22 4,539.78 3,520.65 3,891.24
7,846.31 9,123.61 6,569.00 5,656.64 4,470.57 3,466.97 3,831.92
7,724.15 8,981.57 6,466.73 5,568.57 4,400.97 3,413.00 3,772.26
7,601.31 8,838.73 6,363.88 5,480.01 4,330.98 3,358.72 3,712.27
7,477.77 8,695.08 6,260.46 5,390.95 4,260.59 3,304.13 3,651.94
7,353.54 8,550.63 6,156.46 5,301.39 4,189.81 3,249.24 3,591.27
7,228.62 8,405.37 6,051.87 5,211.33 4,118.63 3,194.04 3,530.26
7,102.99 8,259.29 5,946.69 5,120.76 4,047.05 3,138.53 3,468.90
6,976.66 8,112.40 5,840.93 5,029.69 3,975.07 3,082.71 3,407.21
6,849.62 7,964.67 5,734.57 4,938.10 3,902.69 3,026.58 3,345.16
6,721.86 7,816.12 5,627.61 4,845.99 3,829.90 2,970.13 3,282.77
6,593.39 7,666.73 5,520.05 4,753.38 3,756.70 2,913.36 3,220.03
6,464.20 7,516.51 5,411.89 4,660.24 3,683.09 2,856.27 3,156.94
6,334.28 7,365.44 5,303.12 4,566.57 3,609.07 2,798.87 3,093.49
6,203.63 7,213.52 5,193.74 4,472.38 3,534.63 2,741.14 3,029.68
6,072.25 7,060.75 5,083.74 4,377.67 3,459.77 2,683.09 2,965.52
5,940.13 6,907.12 4,973.13 4,282.42 3,384.49 2,624.71 2,900.99
5,807.26 6,752.63 4,861.90 4,186.63 3,308.79 2,566.00 2,836.11
5,673.65 6,597.27 4,750.04 4,090.31 3,232.66 2,506.96 2,770.86
5,539.30 6,441.04 4,637.55 3,993.45 3,156.11 2,447.60 2,705.24
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
89 90 91 92 93 94 95
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK
OH OH OH OH OR OR PA
- ------------------------------------------------------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,228.67 5,477.66 5,228.67 6,075.22 4,780.50 12,150.43 5,268.51
5,156.56 5,402.11 5,156.56 5,991.43 4,714.57 11,982.87 5,195.85
5,084.05 5,326.15 5,084.05 5,907.18 4,648.27 11,814.36 5,122.78
5,011.13 5,249.75 5,011.13 5,822.45 4,581.60 11,644.90 5,049.31
4,937.80 5,172.93 4,937.80 5,737.25 4,514.56 11,474.50 4,975.42
4,864.05 5,095.68 4,864.05 5,651.57 4,447.13 11,303.13 4,901.11
4,789.90 5,017.99 4,789.90 5,565.40 4,379.33 11,130.81 4,826.39
4,715.32 4,939.86 4,715.32 5,478.76 4,311.15 10,957.51 4,751.25
4,640.33 4,861.30 4,640.33 5,391.62 4,242.59 10,783.25 4,675.69
4,564.92 4,782.30 4,564.92 5,304.00 4,173.64 10,608.00 4,599.70
4,489.08 4,702.85 4,489.08 5,215.89 4,104.30 10,431.77 4,523.29
4,412.82 4,622.96 4,412.82 5,127.28 4,034.58 10,254.55 4,446.44
4,336.13 4,542.61 4,336.13 5,038.17 3,964.46 10,076.34 4,369.17
4,259.01 4,461.82 4,259.01 4,948.56 3,893.95 9,897.12 4,291.46
4,181.45 4,380.57 4,181.45 4,858.45 3,823.04 9,716.90 4,213.31
4,103.46 4,298.87 4,103.46 4,767.83 3,751.74 9,535.67 4,134.73
4,025.04 4,216.71 4,025.04 4,676.71 3,680.03 9,353.42 4,055.70
3,946.17 4,134.08 3,946.17 4,585.07 3,607.92 9,170.14 3,976.23
3,866.86 4,050.99 3,866.86 4,492.92 3,535.41 8,985.84 3,896.32
3,787.10 3,967.44 3,787.10 4,400.25 3,462.49 8,800.50 3,815.95
3,706.90 3,883.41 3,706.90 4,307.06 3,389.16 8,614.12 3,735.14
3,626.24 3,798.92 3,626.24 4,213.35 3,315.42 8,426.69 3,653.87
3,545.13 3,713.95 3,545.13 4,119.11 3,241.26 8,238.21 3,572.14
3,463.57 3,628.50 3,463.57 4,024.34 3,166.69 8,048.67 3,489.96
3,381.55 3,542.57 3,381.55 3,929.04 3,091.70 7,858.07 3,407.31
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
96 97 98 99 100
-- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------
PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA TN UT VA VA
- ---------------------------------------------------------------------------------------------
2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
5,109.16 3,864.24 6,772.37 5,178.87 4,780.50
5,038.70 3,810.95 6,678.98 5,107.45 4,714.57
4,967.84 3,757.35 6,585.05 5,035.63 4,648.27
4,896.59 3,703.46 6,490.60 4,963.40 4,581.60
4,824.93 3,649.27 6,395.62 4,890.77 4,514.56
4,752.87 3,594.77 6,300.11 4,817.73 4,447.13
4,680.41 3,539.96 6,204.06 4,744.28 4,379.33
4,607.54 3,484.85 6,107.47 4,670.42 4,311.15
4,534.27 3,429.43 6,010.34 4,596.14 4,242.59
4,460.58 3,373.69 5,912.66 4,521.44 4,173.64
4,386.47 3,317.65 5,814.43 4,446.33 4,104.30
4,311.95 3,261.28 5,715.65 4,370.79 4,034.58
4,237.02 3,204.61 5,616.32 4,294.83 3,964.46
4,161.66 3,147.61 5,516.43 4,218.45 3,893.95
4,085.88 3,090.29 5,415.98 4,141.63 3,823.04
4,009.67 3,032.66 5,314.96 4,064.38 3,751.74
3,933.03 2,974.69 5,213.38 3,986.70 3,680.03
3,855.97 2,916.41 5,111.23 3,908.58 3,607.92
3,778.47 2,857.79 5,008.50 3,830.03 3,535.41
3,700.54 2,798.85 4,905.20 3,751.03 3,462.49
3,622.17 2,739.57 4,801.31 3,671.59 3,389.16
3,543.35 2,679.96 4,696.84 3,591.70 3,315.42
3,464.10 2,620.02 4,591.79 3,511.37 3,241.26
3,384.40 2,559.74 4,486.15 3,430.58 3,166.69
3,304.25 2,499.12 4,379.91 3,349.34 3,091.70
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 29
<PAGE>
<TABLE>
<CAPTION>
GROSS INTEREST
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
89 90 91 92 93 94 95
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM BETHEL PARK
OH OH OH OH OR OR PA
- ------------------------------------------------------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18 2,627,576.99
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
96 97 98 99 100
-- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------------------
PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA TN UT VA VA
- ---------------------------------------------------------------------------------------------
2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 30
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
101 102 103 104 105 106
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA
VA VT VT WA WA WA
- -------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31
- -------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
16,178.64 10,711.37 9,205.09 18,968.06 14,504.98 23,431.13
16,157.39 10,697.31 9,193.00 18,943.15 14,485.93 23,400.36
16,136.03 10,683.16 9,180.84 18,918.10 14,466.78 23,369.41
16,114.54 10,668.94 9,168.62 18,892.91 14,447.52 23,338.30
16,092.93 10,654.63 9,156.33 18,867.58 14,428.14 23,307.01
16,071.21 10,640.25 9,143.96 18,842.11 14,408.66 23,275.54
16,049.36 10,625.78 9,131.53 18,816.49 14,389.07 23,243.89
16,027.38 10,611.23 9,119.03 18,790.73 14,369.38 23,212.07
16,005.29 10,596.60 9,106.46 18,764.82 14,349.57 23,180.07
15,983.07 10,581.89 9,093.82 18,738.77 14,329.64 23,147.89
15,960.73 10,567.10 9,081.10 18,712.58 14,309.61 23,115.53
15,938.26 10,552.22 9,068.32 18,686.23 14,289.47 23,082.99
15,915.66 10,537.26 9,055.46 18,659.74 14,269.21 23,050.26
15,892.94 10,522.22 9,042.53 18,633.10 14,248.84 23,017.35
15,870.09 10,507.09 9,029.53 18,606.31 14,228.35 22,984.26
15,847.11 10,491.88 9,016.46 18,579.37 14,207.75 22,950.98
15,824.00 10,476.58 9,003.31 18,552.27 14,187.03 22,917.51
15,800.76 10,461.19 8,990.09 18,525.03 14,166.19 22,883.86
15,777.39 10,445.72 8,976.79 18,497.63 14,145.24 22,850.01
15,753.89 10,430.16 8,963.42 18,470.08 14,124.18 22,815.98
15,730.26 10,414.52 8,949.98 18,442.38 14,102.99 22,781.76
15,706.50 10,398.78 8,936.46 18,414.51 14,081.68 22,747.34
15,682.60 10,382.96 8,922.86 18,386.50 14,060.26 22,712.73
15,658.57 10,367.05 8,909.19 18,358.32 14,038.71 22,677.92
15,634.40 10,351.05 8,895.44 18,329.99 14,017.04 22,642.92
15,610.10 10,334.96 8,881.61 18,301.49 13,995.26 22,607.73
15,585.66 10,318.78 8,867.70 18,272.84 13,973.35 22,572.33
15,561.08 10,302.51 8,853.72 18,244.03 13,951.31 22,536.74
15,536.37 10,286.15 8,839.66 18,215.05 13,929.15 22,500.94
15,511.51 10,269.69 8,825.52 18,185.91 13,906.87 22,464.95
15,486.52 10,253.14 8,811.30 18,156.61 13,884.46 22,428.75
15,461.39 10,236.51 8,797.00 18,127.15 13,861.93 22,392.35
15,436.11 10,219.77 8,782.62 18,097.52 13,839.27 22,355.75
15,410.70 10,202.94 8,768.16 18,067.72 13,816.48 22,318.94
15,385.14 10,186.02 8,753.62 18,037.75 13,793.57 22,281.92
15,359.44 10,169.01 8,738.99 18,007.62 13,770.53 22,244.70
15,333.59 10,151.89 8,724.29 17,977.31 13,747.35 22,207.27
15,307.60 10,134.69 8,709.50 17,946.84 13,724.05 22,169.62
15,281.46 10,117.38 8,694.63 17,916.20 13,700.62 22,131.77
15,255.18 10,099.98 8,679.67 17,885.38 13,677.05 22,093.70
15,228.74 10,082.48 8,664.63 17,854.39 13,653.35 22,055.42
15,202.16 10,064.88 8,649.51 17,823.23 13,629.52 22,016.92
15,175.43 10,047.18 8,634.30 17,791.89 13,605.56 21,978.21
15,148.55 10,029.39 8,619.01 17,760.37 13,581.46 21,939.28
15,121.52 10,011.49 8,603.63 17,728.68 13,557.22 21,900.13
15,094.34 9,993.49 8,588.16 17,696.81 13,532.85 21,860.77
15,067.00 9,975.40 8,572.61 17,664.76 13,508.35 21,821.18
<CAPTION>
107 108 109 110 111
--- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE
WV OH MI ME PA
- -------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94
- -------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670%
- -------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
6,973.55 9,926.83 9,520.25 11,595.94 17,184.24
6,964.39 9,910.07 9,499.95 11,572.60 17,167.50
6,955.18 9,893.21 9,479.52 11,549.11 17,150.65
6,945.92 9,876.26 9,458.96 11,525.47 17,133.69
6,936.61 9,859.20 9,438.29 11,501.68 17,116.63
6,927.24 9,842.05 9,417.48 11,477.74 17,099.45
6,917.83 9,824.79 9,396.55 11,453.65 17,082.17
6,908.35 9,807.43 9,375.50 11,429.41 17,064.77
6,898.83 9,789.97 9,354.32 11,405.01 17,047.27
6,889.25 9,772.41 9,333.01 11,380.45 17,029.65
6,879.62 9,754.74 9,311.57 11,355.75 17,011.92
6,869.94 9,736.97 9,290.00 11,330.88 16,994.08
6,860.20 9,719.09 9,268.30 11,305.85 16,976.12
6,850.40 9,701.11 9,246.47 11,280.67 16,958.05
6,840.55 9,683.03 9,224.51 11,255.33 16,939.86
6,830.65 9,664.84 9,202.41 11,229.82 16,921.56
6,820.69 9,646.54 9,180.18 11,204.16 16,903.14
6,810.67 9,628.13 9,157.82 11,178.33 16,884.60
6,800.60 9,609.62 9,135.32 11,152.33 16,865.94
6,790.47 9,591.00 9,112.69 11,126.18 16,847.17
6,780.28 9,572.26 9,089.92 11,099.85 16,828.27
6,770.04 9,553.42 9,067.01 11,073.36 16,809.25
6,759.74 9,534.47 9,043.96 11,046.70 16,790.11
6,749.38 9,515.40 9,020.78 11,019.87 16,770.85
6,738.96 9,496.23 8,997.45 10,992.87 16,751.47
6,728.49 9,476.94 8,973.98 10,965.70 16,731.96
6,717.96 9,457.54 8,950.38 10,938.36 16,712.33
6,707.36 9,438.02 8,926.62 10,910.84 16,692.57
6,696.71 9,418.39 8,902.73 10,883.15 16,672.69
6,686.00 9,398.64 8,878.69 10,855.28 16,652.68
6,675.22 9,378.78 8,854.50 10,827.24 16,632.54
6,664.39 9,358.80 8,830.17 10,799.01 16,612.27
6,653.50 9,338.71 8,805.69 10,770.61 16,591.87
6,642.54 9,318.49 8,781.07 10,742.03 16,571.34
6,631.52 9,298.16 8,756.29 10,713.27 16,550.68
6,620.45 9,277.71 8,731.37 10,684.32 16,529.89
6,609.31 9,257.13 8,706.29 10,655.19 16,508.97
6,598.10 9,236.44 8,681.06 10,625.87 16,487.91
6,586.84 9,215.62 8,655.69 10,596.37 16,466.72
6,575.51 9,194.69 8,630.15 10,566.68 16,445.39
6,564.11 9,173.63 8,604.46 10,536.81 16,423.93
6,552.66 9,152.44 8,578.62 10,506.74 16,402.32
6,541.13 9,131.13 8,552.62 10,476.48 16,380.58
6,529.55 9,109.70 8,526.47 10,446.03 16,358.71
6,517.90 9,088.14 8,500.15 10,415.39 16,336.69
6,506.18 9,066.45 8,473.68 10,384.55 16,314.53
6,494.40 9,044.64 8,447.05 10,353.52 16,292.23
<CAPTION>
112 113
--- ---
TIME
RITE AID WARNER
- -------------------------------------
SCHENECTADY TAMPA
NY FL
- -------------------------------------
1,681,245.78 3,055,623.03
- -------------------------------------
7.740% 7.360%
- -------------------------------------
10TH 10TH TOTAL
- ------------------------------------- -----
<S> <C> <C>
10,844.04 18,741.15 4,032,243.42
10,827.06 18,741.15 4,027,461.05
10,809.97 18,683.33 4,022,929.16
10,792.77 18,625.14 4,018,368.09
10,775.46 18,566.61 4,013,385.19
10,758.04 18,507.71 4,008,765.26
10,740.50 18,448.45 4,004,115.58
10,722.86 18,388.82 3,998,679.03
10,705.10 18,328.84 3,993,609.76
10,687.22 18,268.48 3,988,496.05
10,669.23 18,207.75 3,982,943.30
10,651.12 18,146.65 3,977,764.23
10,632.90 18,085.18 3,972,553.15
10,614.56 18,023.33 3,966,895.36
10,596.10 17,961.10 3,961,617.89
10,577.52 17,898.49 3,956,306.85
10,558.82 17,835.49 3,950,392.24
10,540.00 17,772.11 3,944,863.84
10,521.06 17,708.34 3,932,170.44
10,502.00 17,644.17 3,926,142.82
10,482.82 17,579.62 3,920,508.25
10,463.51 17,514.67 3,914,228.32
10,444.07 17,449.32 3,908,085.31
10,424.52 17,383.57 3,902,342.17
10,404.83 17,317.41 3,895,943.79
10,385.02 17,250.85 3,889,684.65
10,365.08 17,183.88 3,883,832.66
10,345.01 17,116.50 3,877,312.59
10,324.81 17,048.71 3,870,933.64
10,304.48 16,980.50 3,864,968.85
10,284.02 16,911.88 3,858,324.66
10,263.43 16,842.83 3,851,823.65
10,242.71 16,773.36 3,845,744.28
10,221.85 16,703.46 3,838,973.49
10,200.86 16,633.14 3,832,347.99
10,179.73 16,562.38 3,826,151.58
10,158.47 16,491.19 3,819,252.82
10,137.07 16,419.56 3,812,501.94
10,115.53 16,347.50 3,806,187.73
10,093.85 16,274.99 3,799,145.05
10,072.03 16,202.03 3,792,251.78
10,050.07 16,128.63 3,785,800.31
10,027.97 16,054.78 3,778,620.73
10,005.73 15,980.48 3,771,580.61
9,983.34 15,905.72 3,764,992.50
9,960.81 15,830.50 3,757,663.74
9,938.14 15,754.82 3,749,736.99
</TABLE>
Page 31
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
101 102 103 104 105 106
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA
VA VT VT WA WA WA
- -------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31
- -------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
15,039.52 9,957.20 8,556.97 17,632.54 13,483.70 21,781.37
15,011.87 9,938.89 8,541.24 17,600.13 13,458.92 21,741.33
14,984.07 9,920.49 8,525.42 17,567.54 13,433.99 21,701.07
14,956.12 9,901.98 8,509.52 17,534.76 13,408.93 21,660.58
14,928.01 9,883.37 8,493.52 17,501.80 13,383.73 21,619.87
14,899.74 9,864.65 8,477.44 17,468.66 13,358.38 21,578.93
14,871.31 9,845.83 8,461.26 17,435.33 13,332.89 21,537.76
14,842.72 9,826.90 8,445.00 17,401.81 13,307.26 21,496.35
14,813.97 9,807.87 8,428.64 17,368.11 13,281.49 21,454.72
14,785.06 9,788.73 8,412.19 17,334.21 13,255.57 21,412.85
14,755.99 9,769.48 8,395.65 17,300.13 13,229.51 21,370.74
14,726.75 9,750.13 8,379.02 17,265.85 13,203.29 21,328.40
14,697.36 9,730.66 8,362.29 17,231.38 13,176.94 21,285.82
14,667.79 9,711.09 8,345.47 17,196.72 13,150.43 21,243.00
14,638.06 9,691.40 8,328.55 17,161.86 13,123.77 21,199.95
14,608.16 9,671.61 8,311.54 17,126.81 13,096.97 21,156.65
14,578.10 9,651.70 8,294.43 17,091.56 13,070.01 21,113.10
14,547.86 9,631.69 8,277.23 17,056.11 13,042.91 21,069.31
14,517.46 9,611.56 8,259.93 17,020.47 13,015.65 21,025.28
14,486.88 9,591.31 8,242.54 16,984.62 12,988.24 20,981.00
14,456.13 9,570.96 8,225.04 16,948.57 12,960.67 20,936.47
14,425.22 9,550.49 8,207.45 16,912.32 12,932.95 20,891.69
14,394.12 9,529.90 8,189.76 16,875.87 12,905.07 20,846.66
14,362.85 9,509.20 8,171.97 16,839.21 12,877.04 20,801.37
14,331.41 9,488.38 8,154.08 16,802.34 12,848.85 20,755.83
14,299.79 9,467.45 8,136.09 16,765.27 12,820.50 20,710.04
14,267.99 9,446.39 8,118.00 16,727.99 12,791.99 20,663.99
14,236.02 9,425.22 8,099.80 16,690.50 12,763.32 20,617.68
14,203.86 9,403.94 8,081.51 16,652.80 12,734.49 20,571.11
14,171.53 9,382.53 8,063.11 16,614.89 12,705.50 20,524.28
14,139.01 9,361.00 8,044.61 16,576.77 12,676.35 20,477.18
14,106.31 9,339.35 8,026.00 16,538.43 12,647.03 20,429.82
14,073.42 9,317.58 8,007.29 16,499.88 12,617.55 20,382.20
14,040.35 9,295.68 7,988.48 16,461.11 12,587.90 20,334.30
14,007.10 9,273.67 7,969.56 16,422.12 12,558.09 20,286.14
13,973.66 9,251.52 7,950.53 16,382.91 12,528.10 20,237.71
13,940.03 9,229.26 7,931.40 16,343.48 12,497.95 20,189.01
13,906.21 9,206.87 7,912.16 16,303.84 12,467.63 20,140.03
13,872.20 9,184.35 7,892.81 16,263.96 12,437.15 20,090.78
13,838.01 9,161.71 7,873.35 16,223.87 12,406.48 20,041.25
13,803.61 9,138.94 7,853.78 16,183.55 12,375.65 19,991.44
13,769.03 9,116.05 7,834.10 16,143.00 12,344.64 19,941.35
13,734.25 9,093.02 7,814.32 16,102.23 12,313.46 19,890.98
13,699.28 9,069.87 7,794.42 16,061.22 12,282.11 19,840.33
13,664.11 9,046.58 7,774.41 16,019.99 12,250.58 19,789.40
13,628.74 9,023.17 7,754.28 15,978.53 12,218.87 19,738.18
13,593.18 8,999.62 7,734.05 15,936.83 12,186.98 19,686.67
13,557.41 8,975.94 7,713.70 15,894.90 12,154.92 19,634.87
13,521.44 8,952.13 7,693.24 15,852.73 12,122.67 19,582.78
13,485.27 8,928.18 7,672.66 15,810.32 12,090.24 19,530.40
13,448.90 8,904.10 7,651.96 15,767.68 12,057.63 19,477.72
13,412.33 8,879.88 7,631.15 15,724.80 12,024.84 19,424.75
13,375.55 8,855.53 7,610.23 15,681.67 11,991.87 19,371.48
13,338.56 8,831.04 7,589.18 15,638.31 11,958.70 19,317.91
13,301.36 8,806.42 7,568.02 15,594.70 11,925.36 19,264.04
13,263.96 8,781.65 7,546.74 15,550.85 11,891.82 19,209.87
13,226.34 8,756.75 7,525.33 15,506.75 11,858.10 19,155.39
13,188.52 8,731.71 7,503.81 15,462.40 11,824.18 19,100.61
13,150.48 8,706.52 7,482.17 15,417.80 11,790.08 19,045.52
13,112.23 8,681.20 7,460.41 15,372.96 11,755.79 18,990.12
13,073.76 8,655.73 7,438.52 15,327.86 11,721.30 18,934.41
13,035.08 8,630.12 7,416.51 15,282.51 11,686.62 18,878.39
12,996.18 8,604.37 7,394.38 15,236.90 11,651.74 18,822.05
<CAPTION>
107 108 109 110 111
--- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE
WV OH MI ME PA
- -------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94
- -------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670%
- -------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
6,482.55 9,022.70 8,420.25 10,322.29 16,269.78
6,470.63 9,000.63 8,393.30 10,290.86 16,247.20
6,458.65 8,978.42 8,366.18 10,259.23 16,224.47
6,446.60 8,956.09 8,338.90 10,227.40 16,201.59
6,434.48 8,933.63 8,311.45 10,195.37 16,178.57
6,422.30 8,911.04 8,283.84 10,163.13 16,155.40
6,410.05 8,888.31 8,256.05 10,130.69 16,132.08
6,397.72 8,865.45 8,228.11 10,098.05 16,108.61
6,385.33 8,842.45 8,199.99 10,065.19 16,085.00
6,372.87 8,819.32 8,171.70 10,032.13 16,061.23
6,360.34 8,796.06 8,143.24 9,998.86 16,037.31
6,347.74 8,772.66 8,114.61 9,965.38 16,013.24
6,335.07 8,749.12 8,085.81 9,931.68 15,976.35
6,322.32 8,725.44 8,056.83 9,897.77 15,939.23
6,309.51 8,701.62 8,027.68 9,863.65 15,901.88
6,296.62 8,677.66 7,998.35 9,829.31 15,864.28
6,283.66 8,653.57 7,968.85 9,794.75 15,826.44
6,270.63 8,629.33 7,939.16 9,759.97 15,788.37
6,257.52 8,604.94 7,909.30 9,724.97 15,750.04
6,244.34 8,580.42 7,879.25 9,689.75 15,711.48
6,231.09 8,555.75 7,849.03 9,654.30 15,672.67
6,217.76 8,530.93 7,818.62 9,618.63 15,633.60
6,204.36 8,505.97 7,788.03 9,582.73 15,594.29
6,190.88 8,480.87 7,757.25 9,546.61 15,554.73
6,177.33 8,455.61 7,726.29 9,510.25 15,514.92
6,163.70 8,430.21 7,695.14 9,473.67 15,474.85
6,150.00 8,404.66 7,663.80 9,436.85 15,434.52
6,136.21 8,378.96 7,632.27 9,399.80 15,393.94
6,122.35 8,353.10 7,600.55 9,362.51 15,353.10
6,108.42 8,327.10 7,568.64 9,324.99 15,311.99
6,094.40 8,300.94 7,536.54 9,287.23 15,270.63
6,080.30 8,274.63 7,504.24 9,249.22 15,229.00
6,066.13 8,248.16 7,471.75 9,210.98 15,187.10
6,051.88 8,221.54 7,439.06 9,172.50 15,144.94
6,037.54 8,194.77 7,406.17 9,133.76 15,102.50
6,023.13 8,167.83 7,373.09 9,094.79 15,059.80
6,008.63 8,140.74 7,339.80 9,055.56 15,016.82
5,994.06 8,113.48 7,306.31 9,016.09 14,973.57
5,979.40 8,086.07 7,272.63 8,976.37 14,930.04
5,964.66 8,058.50 7,238.73 8,936.39 14,886.23
5,949.83 8,030.76 7,204.64 8,896.16 14,842.14
5,934.93 8,002.86 7,170.33 8,855.68 14,797.77
5,919.94 7,974.80 7,135.82 8,814.94 14,753.12
5,904.86 7,946.57 7,101.10 8,773.94 14,708.18
5,889.70 7,918.18 7,066.17 8,732.67 14,662.96
5,874.46 7,889.62 7,031.03 8,691.15 14,617.44
5,859.13 7,860.89 6,995.68 8,649.36 14,571.64
5,843.71 7,832.00 6,960.11 8,607.31 14,525.54
5,828.21 7,802.93 6,924.33 8,564.99 14,479.14
5,812.62 7,773.69 6,888.34 8,522.41 14,432.45
5,796.94 7,744.28 6,852.12 8,479.55 14,385.47
5,781.17 7,714.70 6,815.69 8,436.42 14,338.18
5,765.32 7,684.95 6,779.03 8,393.01 14,290.59
5,749.38 7,655.02 6,742.16 8,349.33 14,242.69
5,733.34 7,624.91 6,705.06 8,305.37 14,194.49
5,717.22 7,594.63 6,667.74 8,261.14 14,145.98
5,701.01 7,564.17 6,630.19 8,216.62 14,097.16
5,684.70 7,533.53 6,592.41 8,171.82 14,048.03
5,668.31 7,502.71 6,554.41 8,126.74 13,998.59
5,651.82 7,471.71 6,516.17 8,081.37 13,948.83
5,635.24 7,440.52 6,477.71 8,035.71 13,898.75
5,618.57 7,409.16 6,439.01 7,989.76 13,848.35
5,601.80 7,377.61 6,400.08 7,943.52 13,797.63
<CAPTION>
112 113
--- ---
TIME
RITE AID WARNER
- -------------------------------------
SCHENECTADY TAMPA
NY FL
- -------------------------------------
1,681,245.78 3,055,623.03
- -------------------------------------
7.740% 7.360%
- -------------------------------------
10TH 10TH TOTAL
- ------------------------------------- -----
<S> <C> <C>
9,915.32 15,678.68 3,743,022.01
9,892.35 15,602.06 3,735,554.60
9,869.23 15,524.98 3,727,478.78
9,845.96 15,447.43 3,720,596.38
9,822.55 15,369.40 3,712,946.98
9,798.98 15,290.89 3,704,677.28
9,775.26 15,211.90 3,697,489.24
9,751.39 15,132.43 3,689,519.92
9,727.36 15,052.47 3,680,918.06
9,703.18 14,972.02 3,673,576.87
9,678.84 14,891.07 3,665,440.70
9,654.34 14,809.63 3,656,425.00
9,629.69 14,727.69 3,648,929.57
9,604.88 14,645.25 3,640,626.72
9,579.91 14,562.30 3,631,428.14
9,554.78 14,478.84 3,623,789.99
9,529.48 14,394.87 3,615,328.93
9,504.02 14,310.38 3,605,955.13
9,478.40 14,225.38 3,598,169.72
9,452.61 14,139.86 3,589,547.03
9,426.66 14,053.81 3,579,994.77
9,400.54 13,967.23 3,572,059.39
9,374.25 13,880.12 3,563,258.36
9,347.79 13,792.48 3,553,509.97
9,321.16 13,704.30 3,545,407.45
9,294.36 13,615.58 3,536,439.75
9,267.38 13,526.32 3,526,507.39
9,240.23 13,436.50 3,518,250.33
9,212.91 13,346.14 3,509,111.76
9,185.41 13,255.22 3,498,990.02
9,157.73 13,163.75 3,490,573.69
9,129.88 13,071.71 3,479,905.79
9,101.84 12,979.11 3,469,591.23
9,073.63 12,885.95 3,461,012.64
9,045.23 12,792.21 3,450,143.61
9,016.65 12,697.89 3,439,632.32
8,987.88 12,603.00 3,430,888.10
8,958.93 12,507.52 3,419,815.26
8,929.79 12,411.46 3,409,105.40
8,900.47 12,314.81 3,400,194.33
8,870.95 12,217.57 3,388,912.90
8,841.24 12,119.73 3,377,998.59
8,811.35 12,021.29 3,368,915.42
8,781.26 11,922.25 3,357,421.01
8,750.97 11,822.60 3,346,298.67
8,720.49 11,722.34 3,337,040.23
8,689.82 11,621.46 3,325,328.93
8,658.94 11,519.97 3,313,994.21
8,627.87 11,417.85 3,304,556.90
8,596.60 11,315.10 3,292,625.72
8,565.12 11,211.73 3,281,076.76
8,533.44 11,107.72 3,271,459.04
8,501.56 11,003.08 3,259,288.10
8,469.47 10,897.79 3,247,503.52
8,437.18 10,791.86 3,237,682.29
8,404.68 10,685.27 3,225,278.76
8,371.96 10,578.03 3,213,253.70
8,339.04 10,470.14 3,203,229.81
8,305.90 10,361.58 3,190,578.87
8,272.55 10,252.36 3,177,429.80
8,238.99 10,142.47 3,167,212.08
8,205.21 10,031.90 3,154,323.56
8,171.21 9,920.66 3,140,926.66
</TABLE>
Page 32
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
101 102 103 104 105 106
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA
VA VT VT WA WA WA
- -------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31
- -------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
12,957.06 8,578.47 7,372.12 15,191.04 11,616.67 18,765.39
12,917.72 8,552.42 7,349.74 15,144.92 11,581.40 18,708.42
12,878.16 8,526.23 7,327.23 15,098.54 11,545.94 18,651.13
12,838.38 8,499.89 7,304.60 15,051.90 11,510.27 18,593.52
12,798.38 8,473.41 7,281.84 15,004.99 11,474.40 18,535.58
12,758.15 8,446.77 7,258.95 14,957.83 11,438.34 18,477.31
12,717.69 8,419.99 7,235.93 14,910.40 11,402.07 18,418.72
12,677.01 8,393.05 7,212.78 14,862.70 11,365.59 18,359.81
12,636.10 8,365.97 7,189.51 14,814.74 11,328.91 18,300.56
12,594.96 8,338.73 7,166.10 14,766.50 11,292.03 18,240.97
12,553.59 8,311.34 7,142.56 14,718.00 11,254.94 18,181.06
12,511.98 8,283.79 7,118.89 14,669.22 11,217.64 18,120.80
12,470.15 8,256.10 7,095.08 14,620.17 11,180.13 18,060.21
12,428.07 8,228.24 7,071.15 14,570.84 11,142.41 17,999.28
12,385.76 8,200.23 7,047.07 14,521.24 11,104.48 17,938.00
12,343.22 8,172.06 7,022.87 14,471.36 11,066.33 17,876.38
12,300.43 8,143.73 6,998.52 14,421.20 11,027.97 17,814.42
12,257.41 8,115.25 6,974.04 14,370.75 10,989.40 17,752.10
12,214.14 8,086.60 6,949.43 14,320.03 10,950.60 17,689.44
12,170.63 8,057.80 6,924.67 14,269.01 10,911.60 17,626.43
12,126.87 8,028.83 6,899.77 14,217.72 10,872.37 17,563.06
12,082.87 7,999.70 6,874.74 14,166.13 10,832.92 17,499.33
12,038.63 7,970.40 6,849.56 14,114.25 10,793.25 17,435.25
11,994.13 7,940.94 6,824.25 14,062.09 10,753.36 17,370.81
11,949.39 7,911.32 6,798.79 14,009.63 10,713.24 17,306.01
11,904.39 7,881.53 6,773.19 13,956.87 10,672.90 17,240.84
11,859.14 7,851.57 6,747.44 13,903.82 10,632.33 17,175.30
11,813.64 7,821.44 6,721.55 13,850.47 10,591.53 17,109.40
11,767.88 7,791.14 6,695.52 13,796.82 10,550.51 17,043.13
11,721.86 7,760.68 6,669.33 13,742.87 10,509.25 16,976.48
11,675.58 7,730.04 6,643.01 13,688.62 10,467.76 16,909.47
11,629.05 7,699.23 6,616.53 13,634.06 10,426.04 16,842.07
11,582.25 7,668.25 6,589.90 13,579.20 10,384.09 16,774.30
11,535.20 7,637.09 6,563.13 13,524.02 10,341.90 16,706.14
11,487.87 7,605.76 6,536.20 13,468.54 10,299.47 16,637.61
11,440.28 7,574.26 6,509.13 13,412.75 10,256.80 16,568.69
11,392.43 7,542.57 6,481.90 13,356.64 10,213.90 16,499.38
11,344.30 7,510.71 6,454.52 13,300.22 10,170.75 16,429.68
11,295.91 7,478.67 6,426.98 13,243.48 10,127.36 16,359.59
11,247.24 7,446.45 6,399.29 13,186.42 10,083.73 16,289.11
11,198.30 7,414.05 6,371.45 13,129.04 10,039.85 16,218.23
11,149.09 7,381.46 6,343.45 13,071.34 9,995.73 16,146.95
11,099.59 7,348.70 6,315.29 13,013.32 9,951.36 16,075.27
11,049.83 7,315.75 6,286.97 12,954.97 9,906.74 16,003.19
10,999.78 7,282.61 6,258.49 12,896.29 9,861.87 15,930.71
10,949.45 7,249.29 6,229.86 12,837.28 9,816.74 15,857.82
10,898.83 7,215.78 6,201.06 12,777.94 9,771.37 15,784.52
10,847.94 7,182.08 6,172.10 12,718.27 9,725.73 15,710.80
10,796.75 7,148.20 6,142.98 12,658.27 9,679.85 15,636.68
10,745.28 7,114.12 6,113.70 12,597.92 9,633.70 15,562.14
10,693.53 7,079.85 6,084.25 12,537.24 9,587.30 15,487.17
10,641.48 7,045.39 6,054.63 12,476.21 9,540.63 15,411.79
10,589.13 7,010.74 6,024.85 12,414.85 9,493.70 15,335.99
10,536.50 6,975.89 5,994.90 12,353.14 9,446.51 15,259.75
10,483.57 6,940.84 5,964.79 12,291.08 9,399.06 15,183.10
10,430.34 6,905.60 5,934.50 12,228.67 9,351.33 15,106.01
10,376.81 6,870.16 5,904.05 12,165.92 9,303.34 15,028.48
10,322.98 6,834.53 5,873.42 12,102.81 9,255.08 14,950.52
10,268.85 6,798.69 5,842.62 12,039.34 9,206.55 14,872.13
10,214.42 6,762.65 5,811.65 11,975.52 9,157.75 14,793.29
10,159.68 6,726.41 5,780.51 11,911.35 9,108.67 14,714.01
10,104.63 6,689.96 5,749.19 11,846.81 9,059.32 14,634.29
10,049.27 6,653.31 5,717.69 11,781.91 9,009.69 14,554.12
<CAPTION>
107 108 109 110 111
--- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE
WV OH MI ME PA
- -------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94
- -------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670%
- -------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
5,584.94 7,345.87 6,360.92 7,896.98 13,746.58
5,567.98 7,313.95 6,321.51 7,850.15 13,695.21
5,550.93 7,281.84 6,281.87 7,803.03 13,643.51
5,533.78 7,249.54 6,241.99 7,755.60 13,591.48
5,516.54 7,217.05 6,201.87 7,707.87 13,539.12
5,499.20 7,184.37 6,161.51 7,659.84 13,486.42
5,481.76 7,151.50 6,120.90 7,611.51 13,433.38
5,464.23 7,118.44 6,080.04 7,562.86 13,380.01
5,446.59 7,085.18 6,038.94 7,513.91 13,326.30
5,428.86 7,051.72 5,997.59 7,464.65 13,258.31
5,411.03 7,018.07 5,956.00 7,415.07 13,189.90
5,393.10 6,984.23 5,914.14 7,365.18 13,121.05
5,375.06 6,950.18 5,872.04 7,314.98 13,051.75
5,356.93 6,915.93 5,829.68 7,264.45 12,982.02
5,338.69 6,881.48 5,787.07 7,213.61 12,911.83
5,320.35 6,846.83 5,744.20 7,162.44 12,841.20
5,301.91 6,811.98 5,701.07 7,110.94 12,770.12
5,283.36 6,776.92 5,657.68 7,059.12 12,698.58
5,264.71 6,741.66 5,614.02 7,006.97 12,626.59
5,245.96 6,706.18 5,570.11 6,954.49 12,554.14
5,227.10 6,670.50 5,525.92 6,901.68 12,481.22
5,208.13 6,634.61 5,481.47 6,848.53 12,407.84
5,189.06 6,598.51 5,436.76 6,795.04 12,333.99
5,169.88 6,562.20 5,391.77 6,741.21 12,259.66
5,150.60 6,525.67 5,346.51 6,687.04 12,184.86
5,131.20 6,488.93 5,300.97 6,632.53 12,109.59
5,111.70 6,451.97 5,255.16 6,577.67 12,033.83
5,092.08 6,414.80 5,209.08 6,522.46 11,957.59
5,072.36 6,377.41 5,162.71 6,466.90 11,880.86
5,052.52 6,339.80 5,116.07 6,410.99 11,803.64
5,032.58 6,301.96 5,069.14 6,354.73 11,725.92
5,012.52 6,263.91 5,021.93 6,298.10 11,647.71
4,992.35 6,225.63 4,974.43 6,241.12 11,569.00
4,972.07 6,187.12 4,926.65 6,183.78 11,489.79
4,951.67 6,148.39 4,878.58 6,126.07 11,410.07
4,931.16 6,109.44 4,830.22 6,067.99 11,329.84
4,910.53 6,070.25 4,781.56 6,009.55 11,249.10
4,889.78 6,030.83 4,732.61 5,950.74 11,167.84
4,868.92 5,991.19 4,683.37 5,891.55 11,086.06
4,847.95 5,951.31 4,633.83 5,831.98 11,003.76
4,826.85 5,911.19 4,583.98 5,772.04 10,920.93
4,805.64 5,870.84 4,533.84 5,711.72 10,837.58
4,784.31 5,830.25 4,483.39 5,651.01 10,753.69
4,762.85 5,789.42 4,432.64 5,589.92 10,669.27
4,741.28 5,748.36 4,381.59 5,528.44 10,584.30
4,719.59 5,707.05 4,330.22 5,466.57 10,498.79
4,697.77 5,665.50 4,278.54 5,404.31 10,412.74
4,675.83 5,623.70 4,226.55 5,341.65 10,326.14
4,653.77 5,581.66 4,174.25 5,278.59 10,238.98
4,631.59 5,539.38 4,121.63 5,215.14 10,151.26
4,609.28 5,496.84 4,068.69 5,151.28 10,062.99
4,586.84 5,454.06 4,015.44 5,087.01 9,974.15
4,564.28 5,411.02 3,961.86 5,022.34 9,884.74
4,541.59 5,367.73 3,907.95 4,957.25 9,794.76
4,518.78 5,324.19 3,853.72 4,891.76 9,704.21
4,495.83 5,280.39 3,799.17 4,825.84 9,613.08
4,472.76 5,236.33 3,744.28 4,759.51 9,521.36
4,449.56 5,192.01 3,689.06 4,692.76 9,429.06
4,426.23 5,147.44 3,633.51 4,625.58 9,336.17
4,402.77 5,102.60 3,577.62 4,557.98 9,242.68
4,379.17 5,057.50 3,521.40 4,489.95 9,148.60
4,355.44 5,012.13 3,464.83 4,421.48 9,053.92
4,331.58 4,966.50 3,407.92 4,352.58 8,958.63
<CAPTION>
112 113
--- ---
TIME
RITE AID WARNER
- -------------------------------------
SCHENECTADY TAMPA
NY FL
- -------------------------------------
1,681,245.78 3,055,623.03
- -------------------------------------
7.740% 7.360%
- -------------------------------------
10TH 10TH TOTAL
- ------------------------------------- -----
<S> <C> <C>
8,136.99 9,808.73 3,130,468.21
8,102.55 9,696.12 3,117,290.89
8,067.89 9,582.81 3,033,879.20
8,033.00 9,468.82 3,023,413.42
7,997.89 9,354.12 3,010,182.94
7,962.55 9,238.72 2,979,443.93
7,926.99 9,122.61 2,968,848.91
7,891.19 9,005.78 2,955,441.80
7,855.17 8,888.25 2,941,214.25
7,818.91 8,769.99 2,930,400.01
7,782.42 8,651.00 2,916,726.75
7,745.69 8,531.29 2,902,216.39
7,708.73 8,410.84 2,891,194.98
7,671.53 8,289.65 2,877,263.27
7,634.09 8,167.72 2,862,476.66
7,596.40 8,045.05 2,851,241.60
7,558.48 7,921.62 2,837,046.07
7,520.31 7,797.43 2,821,978.04
7,481.89 7,672.48 2,810,525.53
7,443.22 7,546.76 2,796,045.24
7,404.31 7,420.28 2,780,674.00
7,365.14 7,293.02 2,768,983.19
7,325.73 7,164.97 2,754,230.39
7,286.05 7,036.14 2,738,568.68
7,246.13 6,906.53 2,726,653.61
7,205.94 6,776.11 2,653,393.34
7,165.50 6,644.90 2,637,735.57
7,124.79 6,512.88 2,625,893.51
7,083.82 6,380.05 2,609,270.71
7,042.59 6,246.41 2,593,314.37
7,001.09 6,111.95 2,581,242.51
6,959.32 5,976.66 2,564,307.31
6,917.29 5,840.55 2,548,046.51
6,874.98 5,703.59 2,535,739.98
6,832.40 5,565.80 2,518,488.02
6,789.55 5,427.17 2,501,919.33
6,746.42 5,287.68 2,489,376.02
6,703.01 5,147.34 2,471,800.09
6,659.32 5,006.13 2,454,915.01
6,615.35 4,864.06 2,442,127.83
6,571.10 4,721.12 2,424,221.03
6,526.56 4,577.31 2,407,013.91
6,481.73 4,432.61 2,393,978.36
6,436.61 4,287.02 2,375,734.74
6,391.21 4,140.54 2,358,199.00
6,345.51 3,993.16 2,344,909.77
6,299.51 3,844.88 2,326,324.56
6,253.22 3,695.69 2,308,456.45
6,206.63 3,545.58 2,294,918.80
6,159.74 3,394.56 2,276,209.45
6,112.55 3,242.60 2,258,226.34
6,065.05 3,089.72 2,244,642.64
6,017.25 2,935.89 2,225,577.76
5,969.13 2,781.13 2,207,234.49
5,920.71 2,625.41 2,193,372.33
5,871.98 2,468.74 2,173,934.21
5,822.93 2,311.11 2,154,175.36
5,773.56 2,152.51 2,140,042.66
5,723.88 1,992.94 2,120,239.73
5,673.88 1,832.39 2,100,107.02
5,623.55 1,670.85 2,085,648.85
5,572.90 1,508.33 2,065,420.23
5,521.92 1,344.81 2,045,446.52
</TABLE>
Page 33
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
101 102 103 104 105 106
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA
VA VT VT WA WA WA
- -------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31
- -------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
9,993.60 6,616.45 5,686.02 11,716.64 8,959.78 14,473.49
9,937.62 6,579.39 5,654.17 11,651.01 8,909.59 14,392.42
9,881.33 6,542.12 5,622.14 11,585.01 8,859.12 14,310.89
9,824.72 6,504.64 5,589.93 11,518.64 8,808.37 14,228.90
9,767.79 6,466.95 5,557.54 11,451.89 8,757.33 14,146.45
9,710.54 6,429.05 5,524.96 11,384.77 8,706.00 14,063.54
9,652.97 6,390.93 5,492.21 11,317.28 8,654.39 13,980.16
9,595.08 6,352.60 5,459.27 11,249.40 8,602.48 13,896.32
9,536.86 6,314.06 5,426.14 11,181.15 8,550.29 13,812.00
9,478.31 6,275.30 5,392.83 11,112.51 8,497.80 13,727.21
9,419.44 6,236.32 5,359.34 11,043.48 8,445.01 13,641.95
9,360.23 6,197.12 5,325.65 10,974.07 8,391.93 13,556.20
9,300.70 6,157.70 5,291.78 10,904.27 8,338.55 13,469.97
9,240.83 6,118.06 5,257.71 10,834.07 8,284.88 13,383.26
9,180.62 6,078.20 5,223.46 10,763.48 8,230.90 13,296.07
9,120.07 6,038.12 5,189.01 10,692.50 8,176.61 13,208.38
9,059.19 5,997.81 5,154.37 10,621.12 8,122.03 13,120.20
8,997.96 5,957.27 5,119.53 10,549.33 8,067.13 13,031.52
8,936.39 5,916.50 5,084.50 10,477.14 8,011.93 12,942.35
8,874.47 5,875.51 5,049.27 10,404.55 7,956.42 12,852.68
8,812.20 5,834.29 5,013.84 10,331.55 7,900.59 12,762.50
8,749.59 5,792.83 4,978.22 10,258.14 7,844.46 12,671.82
8,686.62 5,751.14 4,942.39 10,184.32 7,788.00 12,580.62
8,623.30 5,709.22 4,906.36 10,110.08 7,731.23 12,488.92
8,559.63 5,667.06 4,870.13 10,035.43 7,674.15 12,396.70
8,495.59 5,624.67 4,833.70 9,960.35 7,616.74 12,303.96
8,431.20 5,582.04 4,797.06 9,884.86 7,559.01 12,210.70
8,366.45 5,539.16 4,760.22 9,808.94 7,500.95 12,116.92
8,301.33 5,496.05 4,723.17 9,732.59 7,442.57 12,022.61
8,235.84 5,452.70 4,685.91 9,655.82 7,383.86 11,927.77
8,169.99 5,409.10 4,648.44 9,578.61 7,324.82 11,832.40
8,103.77 5,365.25 4,610.77 9,500.97 7,265.45 11,736.49
8,037.18 5,321.17 4,572.88 9,422.90 7,205.74 11,640.05
7,970.21 5,276.83 4,534.78 9,344.38 7,145.70 11,543.06
7,902.87 5,232.24 4,496.46 9,265.43 7,085.33 11,445.53
7,835.15 5,187.41 4,457.93 9,186.03 7,024.61 11,347.45
7,767.04 5,142.32 4,419.18 9,106.19 6,963.55 11,248.82
7,698.56 5,096.98 4,380.22 9,025.90 6,902.15 11,149.64
7,629.69 5,051.38 4,341.03 8,945.15 6,840.41 11,049.89
7,560.43 5,005.53 4,301.63 8,863.96 6,778.32 10,949.59
7,490.79 4,959.42 4,262.00 8,782.31 6,715.88 10,848.73
7,420.75 4,913.05 4,222.15 8,700.19 6,653.09 10,747.30
7,350.32 4,866.42 4,182.08 8,617.62 6,589.94 10,645.30
7,279.50 4,819.53 4,141.79 8,534.59 6,526.45 10,542.72
7,208.28 4,772.38 4,101.26 8,451.09 6,462.59 10,439.57
7,136.66 4,724.96 4,060.51 8,367.11 6,398.38 10,335.85
7,064.63 4,677.27 4,019.53 8,282.67 6,333.81 10,231.53
6,992.20 4,629.32 3,978.32 8,197.75 6,268.87 10,126.64
6,919.37 4,581.10 3,936.88 8,112.36 6,203.57 10,021.15
6,846.12 4,532.60 3,895.21 8,026.49 6,137.90 9,915.07
6,772.47 4,483.84 3,853.30 7,940.13 6,071.86 9,808.40
6,698.40 4,434.80 3,811.16 7,853.29 6,005.46 9,701.12
6,623.91 4,385.49 3,768.78 7,765.96 5,938.68 9,593.25
6,549.01 4,335.89 3,726.16 7,678.15 5,871.52 9,484.77
6,473.68 4,286.02 3,683.30 7,589.83 5,803.99 9,375.68
6,397.93 4,235.87 3,640.20 7,501.03 5,736.08 9,265.97
6,321.76 4,185.44 3,596.86 7,411.72 5,667.78 9,155.65
6,245.16 4,134.73 3,553.28 7,321.91 5,599.11 9,044.71
6,168.13 4,083.73 3,509.45 7,231.60 5,530.05 8,933.15
6,090.67 4,032.44 3,465.38 7,140.78 5,460.60 8,820.96
6,012.77 3,980.87 3,421.06 7,049.45 5,390.76 8,708.14
5,934.43 3,929.00 3,376.49 6,957.61 5,320.52 8,594.69
5,855.66 3,876.85 3,331.67 6,865.25 5,249.90 8,480.60
<CAPTION>
107 108 109 110 111
--- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE
WV OH MI ME PA
- -------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94
- -------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670%
- -------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
4,307.59 4,920.60 3,350.67 4,283.25 8,862.73
4,283.46 4,874.43 3,293.08 4,213.47 8,766.22
4,259.19 4,827.98 3,235.13 4,143.25 8,669.09
4,234.79 4,781.27 3,176.83 4,072.58 8,571.34
4,210.25 4,734.28 3,118.19 4,001.47 8,472.97
4,185.58 4,687.01 3,059.18 3,929.90 8,373.97
4,160.76 4,639.47 2,999.82 3,857.88 8,259.02
4,135.81 4,591.65 2,940.11 3,785.40 8,143.33
4,110.71 4,543.55 2,880.03 3,712.47 8,026.91
4,085.48 4,495.16 2,819.59 3,639.06 7,909.74
4,060.10 4,446.49 2,758.78 3,565.20 7,791.82
4,034.58 4,397.53 2,697.60 3,490.86 7,673.15
4,008.92 4,348.29 2,636.06 3,416.05 7,553.72
3,983.11 4,298.76 2,574.14 3,340.77 7,433.52
3,957.16 4,248.93 2,511.85 3,265.01 7,312.56
3,931.06 4,198.82 2,449.18 3,188.76 7,190.83
3,904.82 4,148.40 2,386.14 3,112.04 7,068.31
3,878.43 4,097.70 2,322.71 3,034.82 6,945.02
3,851.89 4,046.69 2,258.90 2,957.12 6,820.93
3,825.20 3,995.39 2,194.70 2,878.92 6,696.06
3,798.36 3,943.78 2,130.12 2,800.23 6,570.38
3,771.37 3,891.87 2,065.15 2,721.03 6,443.90
3,744.23 3,839.66 1,999.78 2,641.33 6,316.62
3,716.94 3,787.13 1,934.02 2,561.13 6,188.51
3,689.49 3,734.30 1,867.86 2,480.42 6,059.60
3,661.89 3,681.16 1,801.30 2,399.19 5,929.85
3,634.14 3,627.71 1,734.33 2,317.45 5,799.28
3,606.23 3,573.94 1,666.97 2,235.19 5,667.87
3,578.16 3,519.86 1,599.19 2,152.41 5,535.62
3,549.93 3,465.46 1,531.01 2,069.10 5,402.53
3,521.55 3,410.74 1,462.42 1,985.27 5,268.59
3,493.00 3,355.70 1,393.40 1,900.90 5,133.79
3,464.30 3,300.34 1,323.98 1,815.99 4,998.13
3,435.43 3,244.65 1,254.13 1,730.55 4,861.60
3,406.41 3,188.63 1,183.86 1,644.56 4,724.20
3,377.22 3,132.28 1,113.17 1,558.03 4,585.92
3,347.86 3,075.61 1,042.05 1,470.95 4,446.76
3,318.34 3,018.60 970.50 1,383.31 4,306.71
3,288.66 2,961.25 898.51 1,295.12 4,165.76
3,258.81 2,903.57 826.09 1,206.37 4,023.91
3,228.79 2,845.55 753.24 1,117.05 3,881.15
3,198.60 2,787.19 679.94 1,027.17 3,737.49
3,168.24 2,728.48 606.20 936.72 3,592.90
3,137.72 2,669.43 532.01 845.69 3,447.39
3,107.02 2,610.04 457.38 754.09 3,300.95
3,076.14 2,550.29 382.30 661.90 3,153.58
3,045.10 2,490.19 306.76 569.13 3,005.26
3,013.88 2,429.75 230.76 475.76 2,855.99
2,982.49 2,368.94 154.31 381.81 2,705.77
2,950.91 2,307.78 77.39 287.26 2,554.59
2,919.17 2,246.26 0.00 192.11 2,402.45
2,887.24 2,184.38 0.00 96.35 2,249.33
2,855.13 2,122.13 0.00 0.00 2,095.23
2,822.85 2,059.52 0.00 0.00 1,940.15
2,790.38 1,996.54 0.00 0.00 1,784.07
2,757.73 1,933.19 0.00 0.00 1,627.00
2,724.90 1,869.47 0.00 0.00 1,468.93
2,691.88 1,805.37 0.00 0.00 1,309.84
2,658.68 1,740.90 0.00 0.00 1,149.74
2,625.29 1,676.05 0.00 0.00 988.61
2,591.71 1,610.81 0.00 0.00 826.46
2,557.94 1,545.20 0.00 0.00 663.27
2,523.99 1,479.20 0.00 0.00 499.03
<CAPTION>
112 113
--- ---
TIME
RITE AID WARNER
- -------------------------------------
SCHENECTADY TAMPA
NY FL
- -------------------------------------
1,681,245.78 3,055,623.03
- -------------------------------------
7.740% 7.360%
- -------------------------------------
10TH 10TH TOTAL
- ------------------------------------- -----
<S> <C> <C>
5,470.61 1,180.28 2,031,758.04
5,418.98 1,014.75 2,012,205.65
5,367.00 848.20 1,992,307.97
5,314.70 680.63 1,978,335.12
5,262.06 512.03 1,958,396.78
5,209.07 342.39 1,937,769.66
5,155.75 171.72 1,923,505.78
5,102.08 0.00 1,903,175.61
5,048.06 0.00 1,882,312.65
4,993.70 0.00 1,867,944.15
4,938.99 0.00 1,847,403.44
4,883.92 0.00 1,826,139.70
4,828.50 0.00 1,811,487.46
4,772.72 0.00 1,790,556.41
4,716.58 0.00 1,768,884.61
4,660.08 0.00 1,753,943.34
4,603.21 0.00 1,732,614.90
4,545.98 0.00 1,710,526.63
4,488.38 0.00 1,695,290.19
4,430.41 0.00 1,673,558.44
4,372.06 0.00 1,651,048.80
4,313.34 0.00 1,635,514.36
4,254.23 0.00 1,613,370.15
4,194.75 0.00 1,590,427.92
4,134.88 0.00 1,574,586.36
4,074.63 0.00 1,550,102.64
4,013.99 0.00 1,526,719.77
3,952.96 0.00 1,510,565.42
3,891.53 0.00 1,485,619.83
3,829.71 0.00 1,461,787.35
3,767.48 0.00 1,445,313.57
3,704.86 0.00 1,419,899.14
3,641.83 0.00 1,395,611.48
3,578.40 0.00 1,378,815.10
3,514.56 0.00 1,352,921.44
3,450.30 0.00 1,328,589.71
3,385.64 0.00 1,311,886.71
3,320.55 0.00 1,285,932.38
3,255.04 0.00 1,261,132.89
3,189.12 0.00 1,244,099.83
3,122.76 0.00 1,217,655.53
3,055.98 0.00 1,192,378.92
2,988.77 0.00 1,175,008.55
2,921.12 0.00 1,148,066.97
2,853.04 0.00 1,122,307.29
2,784.52 0.00 1,104,596.35
2,715.56 0.00 1,077,146.55
2,646.15 0.00 1,050,897.44
2,576.29 0.00 1,032,932.33
2,505.99 0.00 1,005,061.01
2,435.23 0.00 978,383.89
2,364.01 0.00 960,126.54
2,292.34 0.00 931,792.28
2,220.20 0.00 911,463.23
2,147.60 0.00 892,941.28
2,074.53 0.00 864,171.81
2,000.98 0.00 846,598.92
1,926.97 0.00 831,272.97
1,852.47 0.00 805,546.46
1,777.50 0.00 788,020.18
1,702.04 0.00 772,348.89
1,626.09 0.00 746,097.42
1,549.66 0.00 671,545.44
</TABLE>
Page 34
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
101 102 103 104 105 106
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA
VA VT VT WA WA WA
- -------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31
- -------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
5,776.44 3,824.40 3,286.59 6,772.37 5,178.87 8,365.87
5,696.77 3,771.66 3,241.27 6,678.98 5,107.45 8,250.50
5,616.66 3,718.62 3,195.69 6,585.05 5,035.63 8,134.48
5,536.10 3,665.28 3,149.85 6,490.60 4,963.40 8,017.80
5,455.09 3,611.65 3,103.76 6,395.62 4,890.77 7,900.47
5,373.62 3,557.71 3,057.41 6,300.11 4,817.73 7,782.49
5,291.70 3,503.47 3,010.79 6,204.06 4,744.28 7,663.84
5,209.31 3,448.92 2,963.92 6,107.47 4,670.42 7,544.52
5,126.46 3,394.07 2,916.78 6,010.34 4,596.14 7,424.53
5,043.15 3,338.91 2,869.38 5,912.66 4,521.44 7,303.87
4,959.37 3,283.44 2,821.71 5,814.43 4,446.33 7,182.53
4,875.12 3,227.66 2,773.77 5,715.65 4,370.79 7,060.51
4,790.39 3,171.57 2,725.57 5,616.32 4,294.83 6,937.81
4,705.19 3,115.16 2,677.09 5,516.43 4,218.45 6,814.41
4,619.51 3,058.43 2,628.34 5,415.98 4,141.63 6,690.33
4,533.35 3,001.39 2,579.32 5,314.96 4,064.38 6,565.54
4,446.71 2,944.03 2,530.02 5,213.38 3,986.70 6,440.06
4,359.58 2,886.34 2,480.45 5,111.23 3,908.58 6,313.87
4,271.96 2,828.33 2,430.60 5,008.50 3,830.03 6,186.97
4,183.84 2,769.99 2,380.46 4,905.20 3,751.03 6,059.36
4,095.24 2,711.33 2,330.05 4,801.31 3,671.59 5,931.03
4,006.13 2,652.34 2,279.35 4,696.84 3,591.70 5,801.98
3,916.53 2,593.01 2,228.37 4,591.79 3,511.37 5,672.21
3,826.42 2,533.35 2,177.10 4,486.15 3,430.58 5,541.71
3,735.80 2,473.36 2,125.54 4,379.91 3,349.34 5,410.48
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
107 108 109 110 111
--- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE
WV OH MI ME PA
- -------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94
- -------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670%
- -------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2,489.84 1,412.81 0.00 0.00 333.75
2,455.51 1,346.03 0.00 0.00 167.41
2,420.98 1,278.86 0.00 0.00 0.00
2,386.25 1,211.29 0.00 0.00 0.00
2,351.33 1,143.33 0.00 0.00 0.00
2,316.22 1,074.96 0.00 0.00 0.00
2,280.90 1,006.20 0.00 0.00 0.00
2,245.39 937.03 0.00 0.00 0.00
2,209.68 867.46 0.00 0.00 0.00
2,173.77 797.48 0.00 0.00 0.00
2,137.66 727.08 0.00 0.00 0.00
2,101.34 656.27 0.00 0.00 0.00
2,064.82 585.05 0.00 0.00 0.00
2,028.10 513.41 0.00 0.00 0.00
1,991.17 441.34 0.00 0.00 0.00
1,954.03 368.86 0.00 0.00 0.00
1,916.68 295.95 0.00 0.00 0.00
1,879.13 222.61 0.00 0.00 0.00
1,841.36 148.83 0.00 0.00 0.00
1,803.38 74.63 0.00 0.00 0.00
1,765.19 0.00 0.00 0.00 0.00
1,726.78 0.00 0.00 0.00 0.00
1,688.16 0.00 0.00 0.00 0.00
1,649.32 0.00 0.00 0.00 0.00
1,610.26 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
<CAPTION>
112 113
--- ---
TIME
RITE AID WARNER
- -------------------------------------
SCHENECTADY TAMPA
NY FL
- -------------------------------------
1,681,245.78 3,055,623.03
- -------------------------------------
7.740% 7.360%
- -------------------------------------
10TH 10TH TOTAL
- ------------------------------------- -----
<S> <C> <C>
1,472.73 0.00 656,074.93
1,395.31 0.00 629,844.77
1,317.38 0.00 614,176.16
1,238.96 0.00 598,576.02
1,160.03 0.00 572,034.50
1,080.59 0.00 556,237.29
1,000.63 0.00 540,339.24
920.16 0.00 513,308.29
839.17 0.00 497,206.66
757.66 0.00 481,002.20
675.63 0.00 453,472.78
593.06 0.00 437,719.32
509.96 0.00 421,864.68
426.33 0.00 394,493.48
342.16 0.00 378,434.53
257.44 0.00 365,051.65
172.18 0.00 339,976.72
86.37 0.00 329,046.01
0.00 0.00 318,047.43
0.00 0.00 295,256.06
0.00 0.00 284,207.96
0.00 0.00 273,166.19
0.00 0.00 263,648.74
0.00 0.00 254,072.16
0.00 0.00 245,512.79
0.00 0.00 99,283.19
0.00 0.00 94,079.30
0.00 0.00 88,842.08
0.00 0.00 83,709.99
0.00 0.00 78,544.93
0.00 0.00 73,346.66
0.00 0.00 68,115.00
0.00 0.00 62,849.68
0.00 0.00 59,817.15
0.00 0.00 56,765.15
0.00 0.00 53,693.51
0.00 0.00 50,602.15
0.00 0.00 47,490.91
0.00 0.00 44,359.67
0.00 0.00 42,070.87
0.00 0.00 39,770.03
0.00 0.00 37,453.87
0.00 0.00 35,122.38
0.00 0.00 32,775.40
0.00 0.00 30,756.64
0.00 0.00 28,724.40
0.00 0.00 26,678.63
0.00 0.00 24,919.45
0.00 0.00 23,148.43
0.00 0.00 21,365.49
0.00 0.00 19,723.43
0.00 0.00 18,070.29
0.00 0.00 16,409.28
0.00 0.00 14,737.05
0.00 0.00 13,053.56
0.00 0.00 11,358.72
0.00 0.00 9,878.59
0.00 0.00 8,334.70
0.00 0.00 6,780.28
0.00 0.00 5,215.28
0.00 0.00 3,990.25
0.00 0.00 2,756.80
0.00 0.00 1,514.88
</TABLE>
Page 35
<PAGE>
GROSS INTEREST
<TABLE>
<CAPTION>
101 102 103 104 105 106
--- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA
VA VT VT WA WA WA
- -------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31
- -------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
107 108 109 110 111
--- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID
- -------------------------------------------------------------------------------------------------------
BELLE VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE
WV OH MI ME PA
- -------------------------------------------------------------------------------------------------------
1,241,765.75 1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94
- -------------------------------------------------------------------------------------------------------
6.739% 7.050% 7.253% 7.620% 7.670%
- -------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 1ST 1ST
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
<CAPTION>
112 113
--- ---
TIME
RITE AID WARNER
- -------------------------------------
SCHENECTADY TAMPA
NY FL
- -------------------------------------
1,681,245.78 3,055,623.03
- -------------------------------------
7.740% 7.360%
- -------------------------------------
10TH 10TH TOTAL
- ------------------------------------- -----
<S> <C> <C>
0.00 0.00 264.44
</TABLE>
Page 36
<PAGE>
GROSS CASHFLOW
MLMI 1998-C1-CTL
MORTGAGE LOAN CASH FLOWS
CASHFLOW SCHEDULES
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Apr-98 60,344.50 264,542.99 385,668.26 116,275.18 24,784.15 58,630.00
May-98 60,344.50 206,699.04 385,668.26 116,275.18 24,784.15 58,630.00
Jun-98 60,344.50 206,699.04 385,668.26 116,275.18 24,784.15 58,630.00
Jul-98 67,910.99 265,216.78 385,668.26 116,275.18 24,784.15 58,630.00
Aug-98 60,294.88 206,356.22 385,668.26 116,275.18 24,784.15 58,630.00
Sep-98 60,294.88 206,356.22 385,668.26 116,275.18 24,784.15 58,630.00
Oct-98 68,010.24 265,902.41 385,668.26 146,824.61 24,784.15 58,630.00
Nov-98 60,244.28 206,007.38 385,668.26 146,824.61 24,784.15 58,630.00
Dec-98 60,244.28 206,007.38 385,668.26 146,824.61 24,784.15 58,630.00
Jan-99 68,111.44 266,600.09 385,668.26 146,824.61 24,784.15 58,630.00
Feb-99 60,192.69 205,652.41 385,668.26 146,824.61 24,784.15 58,630.00
Mar-99 60,192.69 205,652.41 385,668.26 146,824.61 24,784.15 58,630.00
Apr-99 68,214.63 267,310.04 385,668.26 146,824.61 24,784.15 58,630.00
May-99 60,140.07 205,291.20 385,668.26 146,824.61 24,784.15 58,630.00
Jun-99 60,140.07 205,291.20 385,668.26 146,824.61 24,784.15 58,630.00
Jul-99 68,319.85 268,032.46 385,668.26 146,824.61 24,784.15 58,630.00
Aug-99 60,086.43 204,923.64 385,668.26 146,824.61 24,784.15 58,630.00
Sep-99 60,086.43 204,923.64 1,627,430.76 146,824.61 24,784.15 58,630.00
Oct-99 68,427.14 268,767.58 378,538.47 146,824.61 24,784.15 58,630.00
Nov-99 60,031.73 204,549.62 378,538.47 146,824.61 24,784.15 58,630.00
Dec-99 60,031.73 204,549.62 484,685.56 146,824.61 24,784.15 58,630.00
Jan-00 68,536.55 269,515.62 377,929.01 146,824.61 24,784.15 58,630.00
Feb-00 59,975.95 204,169.03 377,929.01 146,824.61 24,784.15 58,630.00
Mar-00 59,975.95 204,169.03 485,904.49 146,824.61 24,784.15 58,630.00
Apr-00 68,648.10 270,276.81 377,309.05 146,824.61 24,784.15 58,630.00
May-00 59,919.08 203,781.75 377,309.05 146,824.61 24,784.15 58,630.00
Jun-00 59,919.08 203,781.75 487,144.40 146,824.61 24,784.15 58,630.00
Jul-00 68,761.85 271,051.37 376,678.41 146,824.61 24,784.15 58,630.00
Aug-00 59,861.08 203,387.66 376,678.41 146,824.61 24,784.15 58,630.00
Sep-00 59,861.08 203,387.66 488,405.68 146,824.61 24,784.15 58,630.00
Oct-00 68,877.83 271,839.54 376,036.91 146,824.61 24,784.15 58,630.00
Nov-00 59,801.95 202,986.64 376,036.91 146,824.61 24,784.15 58,630.00
Dec-00 59,801.95 202,986.64 489,688.68 146,824.61 24,784.15 58,630.00
Jan-01 68,996.11 272,641.57 375,384.36 146,824.61 24,784.15 58,630.00
Feb-01 59,741.65 202,578.58 375,384.36 146,824.61 24,784.15 58,630.00
Mar-01 59,741.65 202,578.58 490,993.78 146,824.61 24,784.15 58,630.00
Apr-01 69,116.70 273,457.69 374,720.57 146,824.61 24,784.15 58,630.00
May-01 59,680.16 202,163.35 374,720.57 146,824.61 24,784.15 58,630.00
Jun-01 59,680.16 202,163.35 492,321.36 146,824.61 24,784.15 58,630.00
Jul-01 69,239.67 274,288.16 374,045.34 146,824.61 24,784.15 58,630.00
Aug-01 59,617.47 201,740.82 374,045.34 146,824.61 24,784.15 58,630.00
Sep-01 59,617.47 201,740.82 493,671.81 146,824.61 24,784.15 58,630.00
Oct-01 69,365.06 275,133.23 373,358.49 146,824.61 24,784.15 58,630.00
Nov-01 59,553.54 201,310.86 373,358.49 146,824.61 24,784.15 58,630.00
Dec-01 59,553.54 201,310.86 495,045.52 146,824.61 24,784.15 58,630.00
Jan-02 69,492.92 404,292.33 372,659.80 146,824.61 24,784.15 58,630.00
Feb-02 59,488.36 200,121.73 372,659.80 146,824.61 24,784.15 58,630.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------
MAR -98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Apr-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-98 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-99 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-00 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-01 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
------------------------------------------------------------------------
MAR -98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Apr-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
May-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jun-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jul-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Aug-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Sep-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Oct-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Nov-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Dec-98 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jan-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Feb-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Mar-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Apr-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
May-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jun-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jul-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Aug-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Sep-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Oct-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Nov-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Dec-99 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jan-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Feb-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Mar-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Apr-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
May-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jun-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jul-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Aug-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Sep-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Oct-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Nov-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Dec-00 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jan-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Feb-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Mar-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Apr-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
May-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jun-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Jul-01 43,598.92 76,255.92 26,680.17 14,836.40 145,925.57
Aug-01 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Sep-01 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Oct-01 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Nov-01 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Dec-01 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Jan-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Feb-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
</TABLE>
Page 1
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-02 59,488.36 200,121.73 496,442.89 146,824.61 24,784.15 58,630.00
Apr-02 69,623.29 406,670.60 371,949.08 146,824.61 24,784.15 58,630.00
May-02 59,421.89 198,911.70 371,949.08 146,824.61 24,784.15 58,630.00
Jun-02 59,421.89 198,911.70 497,864.34 146,824.61 24,784.15 58,630.00
Jul-02 69,756.23 409,090.66 371,226.12 146,824.61 24,784.15 58,630.00
Aug-02 59,354.11 197,680.40 371,226.12 146,824.61 24,784.15 58,630.00
Sep-02 59,354.11 197,680.40 499,310.27 146,824.61 24,784.15 58,630.00
Oct-02 69,891.78 411,553.26 370,490.70 146,824.61 24,784.15 58,630.00
Nov-02 59,285.00 196,427.46 370,490.70 146,824.61 24,784.15 58,630.00
Dec-02 59,285.00 196,427.46 500,781.10 146,824.61 24,784.15 58,630.00
Jan-03 105,863.99 414,059.13 369,742.62 146,824.61 24,784.15 58,630.00
Feb-03 58,979.52 195,152.50 369,742.62 146,824.61 24,784.15 58,630.00
Mar-03 58,979.52 195,152.50 502,277.27 146,824.61 24,784.15 58,630.00
Apr-03 106,474.96 416,609.05 368,981.65 146,824.61 24,784.15 58,630.00
May-03 58,668.03 193,855.13 368,981.65 146,824.61 24,784.15 58,630.00
Jun-03 58,668.03 193,855.13 503,799.21 146,824.61 24,784.15 58,630.00
Jul-03 107,097.94 419,203.78 368,207.57 146,824.61 24,784.15 58,630.00
Aug-03 58,350.41 192,534.97 368,207.57 146,824.61 24,784.15 58,630.00
Sep-03 58,350.41 192,534.97 505,347.36 146,824.61 24,784.15 58,630.00
Oct-03 107,733.18 421,844.12 367,420.16 146,824.61 24,784.15 58,630.00
Nov-03 58,026.54 191,191.60 367,420.16 146,824.61 24,784.15 58,630.00
Dec-03 58,026.54 191,191.60 506,922.18 146,824.61 24,784.15 58,630.00
Jan-04 108,380.91 424,530.86 366,619.19 146,824.61 24,784.15 58,630.00
Feb-04 57,696.30 189,824.62 366,619.19 146,824.61 24,784.15 58,630.00
Mar-04 57,696.30 189,824.62 508,524.13 146,824.61 24,784.15 58,630.00
Apr-04 109,041.40 427,264.82 365,804.41 146,824.61 24,784.15 58,630.00
May-04 57,359.56 188,433.61 365,804.41 146,824.61 24,784.15 58,630.00
Jun-04 57,359.56 188,433.61 510,153.67 146,824.61 24,784.15 58,630.00
Jul-04 109,714.87 430,046.82 364,975.61 146,824.61 24,784.15 58,630.00
Aug-04 57,016.20 187,018.16 364,975.61 146,824.61 24,784.15 58,630.00
Sep-04 57,016.20 187,018.16 747,746.16 146,824.61 24,784.15 58,630.00
Oct-04 110,401.60 432,877.72 362,777.87 146,824.61 24,784.15 58,630.00
Nov-04 56,666.08 185,577.84 362,777.87 146,824.61 24,784.15 58,630.00
Dec-04 56,666.08 185,577.84 752,141.65 146,824.61 24,784.15 58,630.00
Jan-05 111,101.84 435,758.38 360,542.27 146,824.61 24,784.15 58,630.00
Feb-05 56,309.07 184,112.19 360,542.27 146,824.61 24,784.15 58,630.00
Mar-05 56,309.07 184,112.19 756,612.84 146,824.61 24,784.15 58,630.00
Apr-05 111,815.85 438,689.66 358,268.17 146,824.61 24,784.15 58,630.00
May-05 55,945.04 182,620.80 358,268.17 146,824.61 24,784.15 58,630.00
Jun-05 55,945.04 182,620.80 761,161.05 146,824.61 24,784.15 58,630.00
Jul-05 112,543.92 441,672.46 355,954.89 146,824.61 24,784.15 58,630.00
Aug-05 55,573.85 181,103.18 355,954.89 146,824.61 24,784.15 58,630.00
Sep-05 55,573.85 181,103.18 765,787.60 146,824.61 24,784.15 58,630.00
Oct-05 113,286.31 444,707.68 353,601.77 146,824.61 24,784.15 58,630.00
Nov-05 55,195.35 179,558.90 353,601.77 146,824.61 24,784.15 58,630.00
Dec-05 55,195.35 179,558.90 770,493.85 146,824.61 24,784.15 58,630.00
Jan-06 114,043.30 447,796.25 351,208.11 146,824.61 24,784.15 58,630.00
Feb-06 54,809.40 177,987.48 351,208.11 146,824.61 24,784.15 58,630.00
Mar-06 54,809.40 177,987.48 775,281.16 146,824.61 24,784.15 58,630.00
Apr-06 114,815.19 450,939.10 348,773.22 146,824.61 24,784.15 58,630.00
May-06 54,415.87 176,388.44 348,773.22 146,824.61 24,784.15 58,630.00
Jun-06 54,415.87 176,388.44 780,150.92 146,824.61 24,784.15 58,630.00
Jul-06 115,602.27 454,137.18 346,296.40 146,824.61 24,784.15 58,630.00
Aug-06 54,014.59 174,761.29 346,296.40 146,824.61 24,784.15 58,630.00
Sep-06 54,014.59 174,761.29 785,104.59 146,824.61 24,784.15 58,630.00
Oct-06 116,404.83 457,391.47 343,776.91 146,824.61 24,784.15 58,630.00
Nov-06 53,605.41 173,105.55 343,776.91 146,824.61 24,784.15 58,630.00
Dec-06 53,605.41 173,105.55 790,143.57 146,824.61 24,784.15 58,630.00
Jan-07 117,223.18 613,378.91 341,214.02 146,824.61 24,784.15 58,630.00
Feb-07 53,188.18 170,526.28 341,214.02 146,824.61 24,784.15 58,630.00
Mar-07 53,188.18 170,526.28 795,269.34 146,824.61 24,784.15 58,630.00
Apr-07 118,057.63 618,537.45 338,606.98 146,824.61 24,784.15 58,630.00
May-07 52,762.75 167,901.68 338,606.98 146,824.61 24,784.15 58,630.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------
MAR-98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-02 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-03 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-04 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-05 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-06 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
------------------------------------------------------------------------
MAR-98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Mar-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Apr-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
May-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Jun-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Jul-02 43,598.92 76,255.92 26,680.17 15,267.26 145,925.57
Aug-02 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Sep-02 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Oct-02 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Nov-02 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Dec-02 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jan-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Feb-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Mar-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Apr-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
May-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jun-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jul-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Aug-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Sep-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Oct-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Nov-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Dec-03 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jan-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Feb-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Mar-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Apr-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
May-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jun-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jul-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Aug-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Sep-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Oct-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Nov-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Dec-04 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jan-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Feb-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Mar-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Apr-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
May-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jun-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jul-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Aug-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Sep-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Oct-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Nov-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Dec-05 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jan-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Feb-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Mar-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Apr-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
May-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jun-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Jul-06 43,598.92 76,255.92 26,680.17 15,267.26 168,375.38
Aug-06 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Sep-06 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Oct-06 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Nov-06 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Dec-06 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Jan-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Feb-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Mar-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Apr-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
May-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
</TABLE>
Page 2
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Jun-07 52,762.75 167,901.68 800,483.41 146,824.61 24,784.15 58,630.00
Jul-07 118,908.51 623,786.64 335,955.04 146,824.61 24,784.15 58,630.00
Aug-07 52,328.94 165,230.96 335,955.04 146,824.61 24,784.15 58,630.00
Sep-07 52,328.94 165,230.96 805,787.29 146,824.61 24,784.15 58,630.00
Oct-07 119,776.12 629,128.10 333,257.42 146,824.61 24,784.15 58,630.00
Nov-07 51,886.60 162,513.29 333,257.42 146,824.61 24,784.15 58,630.00
Dec-07 51,886.60 162,513.29 811,182.53 146,824.61 24,784.15 58,630.00
Jan-08 163,303.26 634,563.42 330,513.34 146,824.61 24,784.15 58,630.00
Feb-08 51,155.89 159,747.87 330,513.34 146,824.61 24,784.15 58,630.00
Mar-08 51,155.89 159,747.87 816,670.71 146,824.61 24,784.15 58,630.00
Apr-08 164,764.67 640,094.28 327,721.98 146,824.61 24,784.15 58,630.00
May-08 50,410.81 156,933.84 327,721.98 146,824.61 24,784.15 58,630.00
Jun-08 50,410.81 156,933.84 822,253.41 146,824.61 24,784.15 58,630.00
Jul-08 166,254.84 645,722.34 324,882.55 146,824.61 24,784.15 58,630.00
Aug-08 49,651.06 154,070.35 324,882.55 146,824.61 24,784.15 58,630.00
Sep-08 49,651.06 154,070.35 827,932.28 146,824.61 24,784.15 58,630.00
Oct-08 167,774.33 651,449.31 321,994.21 146,824.61 24,784.15 58,630.00
Nov-08 48,876.37 151,156.54 321,994.21 146,824.61 24,784.15 58,630.00
Dec-08 48,876.37 151,156.54 833,708.97 146,824.61 24,784.15 58,630.00
Jan-09 169,323.71 657,276.94 319,056.11 146,824.61 24,784.15 58,630.00
Feb-09 48,086.44 148,191.52 319,056.11 146,824.61 24,784.15 58,630.00
Mar-09 48,086.44 148,191.52 839,585.16 146,824.61 24,784.15 58,630.00
Apr-09 170,903.58 663,206.98 316,067.41 146,824.61 24,784.15 58,630.00
May-09 47,280.96 145,174.38 316,067.41 146,824.61 24,784.15 58,630.00
Jun-09 47,280.96 145,174.38 845,562.57 146,824.61 24,784.15 58,630.00
Jul-09 172,514.53 669,241.24 313,027.22 146,824.61 24,784.15 58,630.00
Aug-09 46,459.64 142,104.23 313,027.22 146,824.61 24,784.15 58,630.00
Sep-09 46,459.64 142,104.23 1,132,405.44 146,824.61 24,784.15 58,630.00
Oct-09 174,157.18 675,381.56 308,322.62 146,824.61 24,784.15 58,630.00
Nov-09 45,622.16 138,980.11 308,322.62 146,824.61 24,784.15 58,630.00
Dec-09 45,622.16 138,980.11 1,141,814.63 146,824.61 24,784.15 58,630.00
Jan-10 175,832.15 681,629.79 303,536.99 146,824.61 24,784.15 58,630.00
Feb-10 44,768.20 135,801.09 303,536.99 146,824.61 24,784.15 58,630.00
Mar-10 44,768.20 135,801.09 1,151,385.90 146,824.61 24,784.15 58,630.00
Apr-10 177,540.07 687,987.84 298,668.93 146,824.61 24,784.15 58,630.00
May-10 43,897.43 132,566.19 298,668.93 146,824.61 24,784.15 58,630.00
Jun-10 43,897.43 132,566.19 1,161,122.03 146,824.61 24,784.15 58,630.00
Jul-10 179,281.59 694,457.62 293,717.01 146,824.61 24,784.15 58,630.00
Aug-10 43,009.54 129,274.45 293,717.01 146,824.61 24,784.15 58,630.00
Sep-10 43,009.54 129,274.45 1,171,025.87 146,824.61 24,784.15 58,630.00
Oct-10 181,057.38 701,041.12 288,679.79 146,824.61 24,784.15 58,630.00
Nov-10 42,104.18 125,924.85 288,679.79 146,824.61 24,784.15 58,630.00
Dec-10 42,104.18 125,924.85 1,181,100.29 146,824.61 24,784.15 58,630.00
Jan-11 182,868.11 707,740.32 283,555.81 146,824.61 24,784.15 58,630.00
Feb-11 41,181.00 122,516.38 283,555.81 146,824.61 24,784.15 58,630.00
Mar-11 41,181.00 122,516.38 1,191,348.26 146,824.61 24,784.15 58,630.00
Apr-11 184,714.46 714,557.26 278,343.57 146,824.61 24,784.15 58,630.00
May-11 40,239.66 119,048.00 278,343.57 146,824.61 24,784.15 58,630.00
Jun-11 40,239.66 119,048.00 1,201,772.74 146,824.61 24,784.15 58,630.00
Jul-11 186,597.14 721,494.00 273,041.55 146,824.61 24,784.15 58,630.00
Aug-11 39,279.80 115,518.67 273,041.55 146,824.61 24,784.15 58,630.00
Sep-11 39,279.80 115,518.67 1,212,376.79 146,824.61 24,784.15 58,630.00
Oct-11 188,516.87 728,552.66 267,648.20 146,824.61 24,784.15 58,630.00
Nov-11 38,301.05 111,927.32 267,648.20 146,824.61 24,784.15 58,630.00
Dec-11 38,301.05 111,927.32 1,223,163.49 146,824.61 24,784.15 58,630.00
Jan-12 190,474.36 917,419.97 262,161.95 146,824.61 24,784.15 58,630.00
Feb-12 37,303.05 107,208.47 262,161.95 146,824.61 24,784.15 58,630.00
Mar-12 37,303.05 107,208.47 1,234,135.99 146,824.61 24,784.15 58,630.00
Apr-12 192,470.36 926,857.65 256,581.20 146,824.61 24,784.15 58,630.00
May-12 36,285.41 102,406.69 256,581.20 146,824.61 24,784.15 58,630.00
Jun-12 36,285.41 102,406.69 1,245,297.49 146,824.61 24,784.15 58,630.00
Jul-12 194,505.64 936,461.21 250,904.32 146,824.61 24,784.15 58,630.00
Aug-12 35,247.75 97,520.52 250,904.32 146,824.61 24,784.15 58,630.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------
MAR-98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Jun-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-07 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-08 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-09 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-10 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-11 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
------------------------------------------------------------------------
MAR-98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Jun-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Jul-07 43,598.92 76,255.92 26,680.17 15,698.13 168,375.38
Aug-07 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Sep-07 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Oct-07 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Nov-07 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Dec-07 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jan-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Feb-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Mar-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Apr-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
May-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jun-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jul-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Aug-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Sep-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Oct-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Nov-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Dec-08 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jan-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Feb-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Mar-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Apr-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
May-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jun-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jul-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Aug-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Sep-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Oct-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Nov-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Dec-09 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jan-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Feb-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Mar-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Apr-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
May-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jun-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jul-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Aug-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Sep-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Oct-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Nov-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Dec-10 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jan-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Feb-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Mar-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Apr-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
May-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jun-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Jul-11 43,598.92 76,255.92 26,680.17 15,698.13 190,825.19
Aug-11 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Sep-11 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Oct-11 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Nov-11 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Dec-11 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Jan-12 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Feb-12 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Mar-12 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Apr-12 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
May-12 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Jun-12 43,598.92 76,255.92 26,680.17 16,129.00 190,825.19
Jul-12 43,598.92 76,255.92 26,680.17 16,129.00 87,163.03
Aug-12 43,598.92 76,255.92 26,680.17 16,129.00 0.00
</TABLE>
Page 3
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Sep-12 35,247.75 97,520.52 1,256,651.25 146,824.61 24,784.15 58,630.00
Oct-12 196,580.96 946,233.55 245,129.65 146,824.61 24,784.15 58,630.00
Nov-12 34,189.67 92,548.48 245,129.65 146,824.61 24,784.15 58,630.00
Dec-12 34,189.67 92,548.48 1,268,200.57 146,824.61 24,784.15 58,630.00
Jan-13 249,441.65 956,177.64 239,255.52 146,824.61 24,784.15 58,630.00
Feb-13 32,777.98 87,489.05 239,255.52 146,824.61 24,784.15 58,630.00
Mar-13 32,777.98 87,489.05 1,279,948.84 146,824.61 24,784.15 58,630.00
Apr-13 252,265.04 966,296.49 233,280.21 146,824.61 24,784.15 58,630.00
May-13 31,338.51 82,340.71 233,280.21 146,824.61 24,784.15 58,630.00
Jun-13 31,338.51 82,340.71 1,291,899.47 146,824.61 24,784.15 58,630.00
Jul-13 255,143.98 976,593.19 227,201.97 146,824.61 24,784.15 58,630.00
Aug-13 29,870.72 77,101.88 227,201.97 146,824.61 24,784.15 58,630.00
Sep-13 29,870.72 77,101.88 1,304,055.95 146,824.61 24,784.15 58,630.00
Oct-13 258,079.56 987,070.85 221,019.03 146,824.61 24,784.15 58,630.00
Nov-13 28,374.05 71,770.98 221,019.03 146,824.61 24,784.15 58,630.00
Dec-13 28,374.05 71,770.98 1,316,421.82 146,824.61 24,784.15 58,630.00
Jan-14 261,072.90 997,732.65 214,729.59 146,824.61 24,784.15 58,630.00
Feb-14 26,847.93 66,346.38 214,729.59 146,824.61 24,784.15 58,630.00
Mar-14 26,847.93 66,346.38 1,329,000.69 146,824.61 24,784.15 58,630.00
Apr-14 264,125.13 1,008,581.83 208,331.82 146,824.61 24,784.15 58,630.00
May-14 25,291.79 60,826.45 208,331.82 146,824.61 24,784.15 58,630.00
Jun-14 25,291.79 60,826.45 1,341,796.24 146,824.61 24,784.15 58,630.00
Jul-14 267,237.42 1,019,621.69 201,823.84 146,824.61 24,784.15 58,630.00
Aug-14 23,705.03 55,209.51 201,823.84 146,824.61 24,784.15 58,630.00
Sep-14 23,705.03 55,209.51 1,688,919.55 146,824.61 24,784.15 58,630.00
Oct-14 270,410.94 1,030,855.57 193,285.44 146,824.61 24,784.15 58,630.00
Nov-14 22,087.05 49,493.85 193,285.44 146,824.61 24,784.15 58,630.00
Dec-14 22,087.05 49,493.85 1,705,996.38 146,824.61 24,784.15 58,630.00
Jan-15 273,646.90 1,042,286.89 184,599.96 146,824.61 24,784.15 58,630.00
Feb-15 20,437.23 43,677.74 184,599.96 146,824.61 24,784.15 58,630.00
Mar-15 20,437.23 43,677.74 1,723,367.34 146,824.61 24,784.15 58,630.00
Apr-15 276,946.52 1,053,919.12 175,764.87 146,824.61 24,784.15 58,630.00
May-15 18,754.96 37,759.41 175,764.87 146,824.61 24,784.15 58,630.00
Jun-15 18,754.96 37,759.41 1,741,037.52 146,824.61 24,784.15 58,630.00
Jul-15 280,311.07 1,065,755.78 166,777.59 146,824.61 24,784.15 58,630.00
Aug-15 17,039.59 31,737.06 166,777.59 146,824.61 24,784.15 58,630.00
Sep-15 17,039.59 31,737.06 1,759,012.06 146,824.61 24,784.15 58,630.00
Oct-15 283,741.81 1,077,800.47 157,635.51 146,824.61 24,784.15 58,630.00
Nov-15 15,290.47 25,608.88 157,635.51 146,824.61 24,784.15 58,630.00
Dec-15 15,290.47 25,608.88 1,777,296.22 146,824.61 24,784.15 58,630.00
Jan-16 287,240.06 1,090,056.85 148,335.96 146,824.61 24,784.15 58,630.00
Feb-16 13,506.93 19,372.98 148,335.96 146,824.61 24,784.15 58,630.00
Mar-16 13,506.93 19,372.98 1,795,895.33 146,824.61 24,784.15 58,630.00
Apr-16 290,807.13 1,102,528.63 138,876.22 146,824.61 24,784.15 58,630.00
May-16 11,688.30 13,027.50 138,876.22 146,824.61 24,784.15 58,630.00
Jun-16 11,688.30 13,027.50 1,814,814.80 146,824.61 24,784.15 58,630.00
Jul-16 294,444.38 1,115,219.61 129,253.54 146,824.61 24,784.15 58,630.00
Aug-16 9,833.90 6,570.49 129,253.54 146,824.61 24,784.15 58,630.00
Sep-16 9,833.90 6,570.49 1,834,060.16 146,824.61 24,784.15 58,630.00
Oct-16 298,153.20 1,128,133.34 119,465.11 146,824.61 24,784.15 58,630.00
Nov-16 7,943.00 0.00 119,465.11 146,824.61 24,784.15 58,630.00
Dec-16 7,943.00 0.00 1,853,637.02 146,824.61 24,784.15 58,630.00
Jan-17 301,934.99 0.00 109,508.07 146,824.61 24,784.15 58,630.00
Feb-17 6,014.90 0.00 109,508.07 146,824.61 24,784.15 58,630.00
Mar-17 6,014.90 0.00 1,873,551.10 146,824.61 24,784.15 58,630.00
Apr-17 305,791.18 0.00 99,379.53 146,824.61 24,784.15 58,630.00
May-17 4,048.87 0.00 99,379.53 146,824.61 24,784.15 58,630.00
Jun-17 4,048.87 0.00 1,893,808.20 146,824.61 24,784.15 58,630.00
Jul-17 309,723.25 0.00 89,076.52 146,824.61 24,784.15 58,630.00
Aug-17 2,044.16 0.00 89,076.52 146,824.61 24,784.15 58,630.00
Sep-17 2,044.16 0.00 1,914,414.22 146,824.61 24,784.15 58,630.00
Oct-17 313,732.54 0.00 78,596.04 146,824.61 24,784.15 58,630.00
Nov-17 0.00 0.00 78,596.04 146,824.61 24,784.15 58,630.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------
MAR-98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Sep-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-12 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-13 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-14 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-15 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-16 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
------------------------------------------------------------------------
MAR-98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Sep-12 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Oct-12 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Nov-12 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Dec-12 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jan-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Feb-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Mar-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Apr-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
May-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jun-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jul-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Aug-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Sep-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Oct-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Nov-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Dec-13 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jan-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Feb-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Mar-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Apr-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
May-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jun-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jul-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Aug-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Sep-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Oct-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Nov-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Dec-14 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jan-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Feb-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Mar-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Apr-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
May-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jun-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jul-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Aug-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Sep-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Oct-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Nov-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Dec-15 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jan-16 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Feb-16 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Mar-16 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Apr-16 43,598.92 76,255.92 26,680.17 16,129.00 0.00
May-16 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jun-16 43,598.92 76,255.92 26,680.17 16,129.00 0.00
Jul-16 43,598.92 76,255.92 26,680.17 15,057.76 0.00
Aug-16 43,598.92 76,255.92 26,680.17 0.00 0.00
Sep-16 43,598.92 76,255.92 26,680.17 0.00 0.00
Oct-16 43,598.92 76,255.92 26,680.17 0.00 0.00
Nov-16 43,598.92 76,255.92 26,680.17 0.00 0.00
Dec-16 43,598.92 76,255.92 26,680.17 0.00 0.00
Jan-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Feb-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Mar-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Apr-17 43,598.92 76,255.92 26,680.17 0.00 0.00
May-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Jun-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Jul-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Aug-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Sep-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Oct-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Nov-17 43,598.92 76,255.92 26,680.17 0.00 0.00
</TABLE>
Page 4
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dec-17 0.00 0.00 1,935,375.18 146,824.61 24,784.15 58,630.00
Jan-18 0.00 0.00 67,935.03 146,824.61 24,784.15 58,630.00
Feb-18 0.00 0.00 67,935.03 146,824.61 24,784.15 58,630.00
Mar-18 0.00 0.00 1,956,697.19 146,824.61 24,784.15 58,630.00
Apr-18 0.00 0.00 57,090.39 146,824.61 24,784.15 58,630.00
May-18 0.00 0.00 57,090.39 146,824.61 24,784.15 58,630.00
Jun-18 0.00 0.00 1,978,386.48 146,824.61 24,784.15 58,630.00
Jul-18 0.00 0.00 46,058.94 146,824.61 24,784.15 58,630.00
Aug-18 0.00 0.00 46,058.94 146,824.61 24,784.15 58,630.00
Sep-18 0.00 0.00 2,000,449.36 146,824.61 24,784.15 58,630.00
Oct-18 0.00 0.00 34,837.49 146,824.61 24,784.15 58,630.00
Nov-18 0.00 0.00 34,837.49 146,824.61 24,784.15 58,630.00
Dec-18 0.00 0.00 2,022,892.28 146,824.61 24,784.15 58,630.00
Jan-19 0.00 0.00 23,422.74 146,824.61 24,784.15 58,630.00
Feb-19 0.00 0.00 23,422.74 146,824.61 24,784.15 58,630.00
Mar-19 0.00 0.00 2,045,721.78 146,824.61 24,784.15 58,630.00
Apr-19 0.00 0.00 11,811.37 146,824.61 24,784.15 58,630.00
May-19 0.00 0.00 11,811.37 146,824.61 24,784.15 58,630.00
Jun-19 0.00 0.00 2,068,944.21 146,824.61 24,784.15 58,630.00
Jul-19 0.00 0.00 0.00 146,824.61 24,784.15 58,630.00
Aug-19 0.00 0.00 0.00 146,824.61 24,784.15 58,630.00
Sep-19 0.00 0.00 0.00 146,824.61 24,784.15 58,630.00
Oct-19 0.00 0.00 0.00 146,824.61 24,784.15 58,630.03
Nov-19 0.00 0.00 0.00 146,824.61 24,784.15 0.00
Dec-19 0.00 0.00 0.00 146,824.61 24,784.15 0.00
Jan-20 0.00 0.00 0.00 146,824.61 24,784.15 0.00
Feb-20 0.00 0.00 0.00 146,824.61 24,782.09 0.00
Mar-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Apr-20 0.00 0.00 0.00 146,824.61 0.00 0.00
May-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Jun-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Jul-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Aug-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Sep-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Oct-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Nov-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Dec-20 0.00 0.00 0.00 146,824.61 0.00 0.00
Jan-21 0.00 0.00 0.00 146,822.42 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------
MAR-98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Dec-17 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Apr-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
May-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jun-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jul-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Aug-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Sep-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Oct-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Nov-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Dec-18 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Jan-19 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Feb-19 96,715.75 56,583.00 42,640.00 48,790.00 66,026.00 45,172.75
Mar-19 96,715.73 56,583.02 42,640.00 48,790.00 66,025.98 45,172.76
Apr-19 0.00 0.00 42,640.00 48,790.00 0.00 0.00
May-19 0.00 0.00 42,640.00 48,790.00 0.00 0.00
Jun-19 0.00 0.00 42,640.00 48,790.00 0.00 0.00
Jul-19 0.00 0.00 42,640.00 48,790.00 0.00 0.00
Aug-19 0.00 0.00 42,640.00 48,790.00 0.00 0.00
Sep-19 0.00 0.00 42,640.00 48,790.00 0.00 0.00
Oct-19 0.00 0.00 42,639.99 48,790.01 0.00 0.00
Nov-19 0.00 0.00 0.00 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
------------------------------------------------------------------------
MAR-98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Dec-17 43,598.92 76,255.92 26,680.17 0.00 0.00
Jan-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Feb-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Mar-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Apr-18 43,598.92 76,255.92 26,680.17 0.00 0.00
May-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Jun-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Jul-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Aug-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Sep-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Oct-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Nov-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Dec-18 43,598.92 76,255.92 26,680.17 0.00 0.00
Jan-19 43,598.92 76,255.92 26,680.17 0.00 0.00
Feb-19 43,598.92 76,255.92 26,680.17 0.00 0.00
Mar-19 43,598.93 76,253.84 26,680.18 0.00 0.00
Apr-19 0.00 0.00 0.00 0.00 0.00
May-19 0.00 0.00 0.00 0.00 0.00
Jun-19 0.00 0.00 0.00 0.00 0.00
Jul-19 0.00 0.00 0.00 0.00 0.00
Aug-19 0.00 0.00 0.00 0.00 0.00
Sep-19 0.00 0.00 0.00 0.00 0.00
Oct-19 0.00 0.00 0.00 0.00 0.00
Nov-19 0.00 0.00 0.00 0.00 0.00
Dec-19 0.00 0.00 0.00 0.00 0.00
Jan-20 0.00 0.00 0.00 0.00 0.00
Feb-20 0.00 0.00 0.00 0.00 0.00
Mar-20 0.00 0.00 0.00 0.00 0.00
Apr-20 0.00 0.00 0.00 0.00 0.00
May-20 0.00 0.00 0.00 0.00 0.00
Jun-20 0.00 0.00 0.00 0.00 0.00
Jul-20 0.00 0.00 0.00 0.00 0.00
Aug-20 0.00 0.00 0.00 0.00 0.00
Sep-20 0.00 0.00 0.00 0.00 0.00
Oct-20 0.00 0.00 0.00 0.00 0.00
Nov-20 0.00 0.00 0.00 0.00 0.00
Dec-20 0.00 0.00 0.00 0.00 0.00
Jan-21 0.00 0.00 0.00 0.00 0.00
Feb-21 0.00 0.00 0.00 0.00 0.00
Mar-21 0.00 0.00 0.00 0.00 0.00
Apr-21 0.00 0.00 0.00 0.00 0.00
May-21 0.00 0.00 0.00 0.00 0.00
Jun-21 0.00 0.00 0.00 0.00 0.00
Jul-21 0.00 0.00 0.00 0.00 0.00
Aug-21 0.00 0.00 0.00 0.00 0.00
Sep-21 0.00 0.00 0.00 0.00 0.00
Oct-21 0.00 0.00 0.00 0.00 0.00
Nov-21 0.00 0.00 0.00 0.00 0.00
Dec-21 0.00 0.00 0.00 0.00 0.00
Jan-22 0.00 0.00 0.00 0.00 0.00
Feb-22 0.00 0.00 0.00 0.00 0.00
Mar-22 0.00 0.00 0.00 0.00 0.00
Apr-22 0.00 0.00 0.00 0.00 0.00
May-22 0.00 0.00 0.00 0.00 0.00
Jun-22 0.00 0.00 0.00 0.00 0.00
Jul-22 0.00 0.00 0.00 0.00 0.00
Aug-22 0.00 0.00 0.00 0.00 0.00
Sep-22 0.00 0.00 0.00 0.00 0.00
Oct-22 0.00 0.00 0.00 0.00 0.00
Nov-22 0.00 0.00 0.00 0.00 0.00
Dec-22 0.00 0.00 0.00 0.00 0.00
Jan-23 0.00 0.00 0.00 0.00 0.00
Feb-23 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 5
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
POOL ID 1 2 3 4 5 6
- - - - - -
TENANT ALLEGHENY ALLEGHENY ALLEGHENY
CENTENNIAL GENERAL GENERAL BAPTIST BAPTIST CIRCUIT
GROUP HOSPITAL HOSPITAL HOSPITAL HOSPITAL CITY
--------------------------------------------------------------------------------------
WAYNE PITTSBURGH PITTSBURGH NASHVILLE NASHVILLE DENVER
PA PA (NORTH) PA (FEDERAL) TN (#1) TN (#2) CO
--------------------------------------------------------------------------------------
MAR -98 BALANCE 9,201,195.07 35,340,415.71 67,170,088.09 19,791,520.71 3,449,962.45 6,888,745.84
--------------------------------------------------------------------------------------
GROSS COUPON 7.870% 7.030% 6.890% 7.050% 6.570% 8.610%
--------------------------------------------------------------------------------------
PAYMENT DAY 10TH 1ST 10TH 10TH 10TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 7 8 9 10 11 12
- - - -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT CIRCUIT
CITY CITY CITY CITY CITY CITY
--------------------------------------------------------------------------------------
ORLANDO WEST PALM BEACH CRYSTAL LAKE WITCHITA WESTLAND KENTWOOD
FL FL IL KS MI MI
--------------------------------------------------------------------------------------
MAR-98 BALANCE 12,121,850.51 7,091,819.77 5,009,996.97 5,732,592.69 8,275,356.41 5,661,718.21
--------------------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 8.610% 8.610% 7.640% 7.640%
--------------------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 5TH 5TH 5TH
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
POOL ID 13 14 15 16 17
-- -- -- -- --
TENANT CIRCUIT CIRCUIT CIRCUIT ECKERD FEDERAL
CITY CITY CITY CORPORATION INSURANCE
------------------------------------------------------------------------
BOARDMAN MONROEVILLE ANDERSEN NEPTUNE BEACH FLORHAM PARK
OH PA SC FL NJ
------------------------------------------------------------------------
MAR-98 BALANCE 5,464,462.52 9,557,521.11 3,343,954.14 1,876,468.15 17,912,874.88
------------------------------------------------------------------------
GROSS COUPON 7.640% 7.640% 7.640% 7.190% 6.900%
------------------------------------------------------------------------
PAYMENT DAY 5TH 5TH 5TH 1ST 1ST
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Mar-23 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 6
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
18 19 20 21 24 25
-- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS
- --------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH
OR WA WA VA NY CA
- --------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19
- --------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480%
- --------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,840.86 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,687.62 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,526.71 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,357.75 18,784.89
<CAPTION>
26 27 28 29 30 31 32
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS
CA CA IA IA IA IA ID
- ---------------------------------------------------------------------------------------------------------------------------------
1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
<CAPTION>
33 34 35 36 37 38
-- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ----------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
ID IL IL LA MT OR
- ----------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- ----------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
</TABLE>
Page 7
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
18 19 20 21 24 25
-- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS
- --------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH
OR WA WA VA NY CA
- --------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19
- --------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480%
- --------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
142,072.50 105,848.17 104,768.08 35,615.42 114,180.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,180.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,180.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,180.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 114,180.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,462.96 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,276.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 120,081.10 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,875.74 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,660.11 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,433.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,433.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,433.69 18,784.89
<CAPTION>
26 27 28 29 30 31 32
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS
CA CA IA IA IA IA ID
- ---------------------------------------------------------------------------------------------------------------------------------
1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
<CAPTION>
33 34 35 36 37 38
-- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ----------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
ID IL IL LA MT OR
- ----------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- ----------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
</TABLE>
Page 8
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
18 19 20 21 24 25
-- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS
- --------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH
OR WA WA VA NY CA
- --------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19
- --------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480%
- --------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
142,072.50 105,848.17 104,768.08 35,615.42 119,433.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 119,433.69 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 126,049.64 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,811.90 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,562.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,300.18 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 125,024.97 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 124,736.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 124,736.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 124,736.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 124,736.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 124,736.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
<CAPTION>
26 27 28 29 30 31 32
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS
CA CA IA IA IA IA ID
- ---------------------------------------------------------------------------------------------------------------------------------
1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
<CAPTION>
33 34 35 36 37 38
-- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ----------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
ID IL IL LA MT OR
- ----------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- ----------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
</TABLE>
Page 9
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
18 19 20 21 24 25
-- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS
- --------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH
OR WA WA VA NY CA
- --------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19
- --------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480%
- --------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,699.77 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,396.35 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 131,077.76 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,743.24 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,392.00 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,023.19 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,023.19 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,023.19 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,023.19 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 130,023.19 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
<CAPTION>
26 27 28 29 30 31 32
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS
CA CA IA IA IA IA ID
- ---------------------------------------------------------------------------------------------------------------------------------
1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
<CAPTION>
33 34 35 36 37 38
-- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ----------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
ID IL IL LA MT OR
- ----------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- ----------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
</TABLE>
Page 10
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
18 19 20 21 24 25
-- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS
- --------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH
OR WA WA VA NY CA
- --------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19
- --------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480%
- --------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 137,356.52 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,969.28 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 18,784.89
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,562.67 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,135.73 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,135.73 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,135.73 0.00
142,072.50 105,848.17 104,768.08 35,615.42 136,135.73 0.00
142,072.52 105,845.78 104,770.45 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 136,135.73 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,687.45 0.00
0.00 0.00 0.00 35,615.42 135,216.75 0.00
0.00 0.00 0.00 35,615.42 135,216.75 0.00
0.00 0.00 0.00 35,615.42 135,216.75 0.00
0.00 0.00 0.00 35,613.96 135,216.75 0.00
0.00 0.00 0.00 0.00 135,216.75 0.00
0.00 0.00 0.00 0.00 142,934.14 0.00
0.00 0.00 0.00 0.00 142,934.14 0.00
0.00 0.00 0.00 0.00 142,934.14 0.00
0.00 0.00 0.00 0.00 142,934.14 0.00
0.00 0.00 0.00 0.00 142,934.14 0.00
0.00 0.00 0.00 0.00 142,934.14 0.00
0.00 0.00 0.00 0.00 142,934.63 0.00
<CAPTION>
26 27 28 29 30 31 32
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS
CA CA IA IA IA IA ID
- ---------------------------------------------------------------------------------------------------------------------------------
1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.63 10,099.77 24,823.65 13,031.75 11,716.28 12,247.81 9,915.26
9,609.62 10,099.78 24,823.63 13,031.75 11,716.26 12,247.83 9,915.28
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
33 34 35 36 37 38
-- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ----------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
ID IL IL LA MT OR
- ----------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- ----------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.53 12,786.88 6,254.13 7,469.15 13,223.86
15,726.14 12,625.52 12,786.88 6,254.13 7,469.13 13,223.86
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 11
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
18 19 20 21 24 25
-- -- -- -- -- --
HEALTH INS.
FRED FRED FRED GIANT PLAN OF HEILIG-
MEYER MEYER MEYER FOOD GREATER NY MEYERS
- --------------------------------------------------------------------------------------------------------------------------
JOHNSON CREEK EAST VANCOUVER BONNEY LAKE ARLINGTON FOREST HILLS ANTIOCH
OR WA WA VA NY CA
- --------------------------------------------------------------------------------------------------------------------------
18,109,169.54 13,524,712.95 13,386,705.68 4,719,750.33 15,309,448.71 2,403,348.19
- --------------------------------------------------------------------------------------------------------------------------
7.730% 7.700% 7.700% 7.620% 8.350% 7.480%
- --------------------------------------------------------------------------------------------------------------------------
1ST 1ST 1ST 1ST 1ST 10TH
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
26 27 28 29 30 31 32
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ---------------------------------------------------------------------------------------------------------------------------------
VALLEJO REDDING BURLINGTON CEDAR RAPIDS DUBUQUE WATERLOO TWIN FALLS
CA CA IA IA IA IA ID
- ---------------------------------------------------------------------------------------------------------------------------------
1,229,460.85 1,292,169.61 3,175,950.15 1,667,288.59 1,498,986.70 1,566,990.92 1,268,563.31
- ---------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ---------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
33 34 35 36 37 38
-- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG-
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS
- ----------------------------------------------------------------------------------------------------------------
BOISE MOLINE QUINCY BATON ROUGE BILLINGS TIGARD
ID IL IL LA MT OR
- ----------------------------------------------------------------------------------------------------------------
2,012,010.19 1,615,316.60 1,635,959.80 800,156.51 955,606.77 1,691,867.24
- ----------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480%
- ----------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 12
<PAGE>
<TABLE>
<CAPTION>
GROSS CASHFLOW
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ------------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- ------------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- ------------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- ------------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- ------------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 87,891.54
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 87,891.54
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 87,891.54
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 87,891.54
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 87,891.54
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 87,891.54
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 28,145.02 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,076.56
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,041.97
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 30,306.63 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 120,005.66
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- --------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- --------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- --------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- --------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,718.02
420,750.99 31,234.78 129,263.73 84,106.55 34,664.68
420,750.99 31,234.78 129,263.73 84,106.55 34,664.68
420,750.99 31,234.78 129,263.73 84,106.55 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,664.68
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,608.67
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
</TABLE>
Page 13
<PAGE>
<TABLE>
<CAPTION>
GROSS CASHFLOW
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ------------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- ------------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- ------------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- ------------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- ------------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,967.53
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,927.49
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 32,634.30 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,885.45
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,841.31
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 35,140.76 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,794.96
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- --------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- --------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- --------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- --------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
420,750.99 31,234.78 129,263.73 109,041.52 34,549.86
420,750.99 31,234.78 129,263.73 109,041.52 34,486.11
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,885.05
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,820.21
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,752.13
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,680.65
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,605.59
420,750.99 31,234.78 129,263.73 109,041.52 39,526.78
420,750.99 31,234.78 129,263.73 109,041.52 45,698.80
</TABLE>
Page 14
<PAGE>
<TABLE>
<CAPTION>
GROSS CASHFLOW
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ------------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- ------------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- ------------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- ------------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- ------------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,746.29
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,695.19
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 37,839.74 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,641.54
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,585.20
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 40,746.05 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 39,388.08 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,526.05
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- --------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- --------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- --------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- --------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
420,750.99 31,234.78 129,263.73 109,041.52 45,698.80
420,750.99 31,234.78 11,343,344.60 109,041.52 45,698.80
420,750.99 31,234.78 0.00 109,041.52 45,698.80
420,750.99 31,234.78 0.00 109,041.52 45,698.80
420,750.99 2,784,563.84 0.00 109,041.52 45,698.80
420,750.99 0.00 0.00 109,041.52 45,698.80
420,750.99 0.00 0.00 109,041.52 45,698.80
420,750.99 0.00 0.00 109,041.52 45,698.80
420,750.99 0.00 0.00 109,041.52 45,698.80
420,750.99 0.00 0.00 109,041.52 45,698.80
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,616.05
420,750.99 0.00 0.00 109,041.52 45,529.16
420,750.99 0.00 0.00 109,041.52 45,529.16
420,750.99 0.00 0.00 9,895,319.12 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,529.16
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,437.93
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,342.13
420,750.99 0.00 0.00 0.00 45,241.55
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
</TABLE>
Page 15
<PAGE>
<TABLE>
<CAPTION>
GROSS CASHFLOW
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ------------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 145,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 9,910,645.65
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- ------------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- ------------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- ------------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- ------------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,463.94
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,398.72
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,330.24
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,842.03 23,514.43 52,958.73 0.00 119,258.34
40,895.14 65,843.66 23,514.43 52,958.73 0.00 119,258.34
40,895.14 0.00 23,514.43 52,958.73 0.00 119,258.34
40,895.14 0.00 23,514.43 52,958.73 0.00 119,258.34
40,895.14 0.00 23,514.43 52,958.73 0.00 119,258.34
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,182.84
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,103.57
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- --------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- --------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- --------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- --------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,360.90
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,255.29
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,144.40
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 52,027.96
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,750.99 0.00 0.00 0.00 51,905.70
420,748.84 0.00 0.00 0.00 51,905.70
0.00 0.00 0.00 0.00 51,777.33
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 16
<PAGE>
<TABLE>
<CAPTION>
GROSS CASHFLOW
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ------------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.95 12,790.11 14,962.62 9,610.87 0.00
13,223.86 13,223.86 13,401.93 12,790.12 14,962.62 9,610.88 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- ------------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- ------------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- ------------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- ------------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.33
40,895.14 0.00 23,514.43 52,958.73 0.00 119,020.34
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,958.73 0.00 0.00
40,895.14 0.00 23,514.43 52,955.86 0.00 0.00
40,895.14 0.00 23,514.43 0.00 0.00 0.00
40,895.14 0.00 23,514.43 0.00 0.00 0.00
40,895.14 0.00 23,514.43 0.00 0.00 0.00
40,895.14 0.00 23,514.43 0.00 0.00 0.00
40,895.14 0.00 23,514.43 0.00 0.00 0.00
40,895.14 0.00 23,517.22 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
40,895.14 0.00 0.00 0.00 0.00 0.00
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- --------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- --------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- --------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- --------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 17
<PAGE>
<TABLE>
<CAPTION>
GROSS CASHFLOW
39 40 41 42 43 44 45
-- -- -- -- -- -- --
HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HEILIG- HOME
MEYERS MEYERS MEYERS MEYERS MEYERS MEYERS DEPOT
- ------------------------------------------------------------------------------------------------------------------------------------
EUGENE HILLSBORO SALEM VANCOUVER N. SPOKANE YAKIMA CHICAGO
OR OR OR WA WA WA IL
- ------------------------------------------------------------------------------------------------------------------------------------
1,691,867.24 1,691,867.24 1,714,652.16 1,636,373.05 1,914,325.06 1,229,619.50 21,168,826.53
- ------------------------------------------------------------------------------------------------------------------------------------
7.480% 7.480% 7.480% 7.480% 7.480% 7.480% 6.960%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
48 49 50 51 52 53
-- -- -- -- -- --
TIMES MONROE
KMART KMART KMART KMART MIRROR COUNTY, NY
- ------------------------------------------------------------------------------------------------------------------------
TAFT UKIAH WOODCREST STERLING HEIGHTS LAGUNA HILLS ROCHESTER
CA CA CA MI CA NY
- ------------------------------------------------------------------------------------------------------------------------
5,386,097.27 7,525,857.47 3,046,791.84 6,816,611.39 3,578,054.58 15,884,013.95
- ------------------------------------------------------------------------------------------------------------------------
7.810% 7.710% 7.800% 7.790% 6.630% 6.640%
- ------------------------------------------------------------------------------------------------------------------------
5TH 5TH 5TH 5TH 1ST 1ST
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
40,895.04 0.00 0.00 0.00 0.00 0.00
<CAPTION>
54 55 56 57 58
-- -- -- -- --
NINE NORTHWESTERN NORTHWESTERN NORTHWESTERN OFFICE
WEST HUMAN SERV. HUMAN SERV. HUMAN SERV. DEPOT
- --------------------------------------------------------------------------------------------------------
WHITE PLAINS (11 LOCATIONS) (28 LOCATIONS) NORTHUMBERLAND BROOKLYN
NY NJ PA PA OH
- --------------------------------------------------------------------------------------------------------
45,888,588.25 3,925,103.61 16,008,202.83 14,135,554.35 4,488,420.74
- --------------------------------------------------------------------------------------------------------
9.000% 7.400% 7.460% 7.140% 8.817715%
- --------------------------------------------------------------------------------------------------------
1ST 5TH 5TH 5TH 1ST
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 18
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- ----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- ----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- ----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
39,120.92 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- --------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- --------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
</TABLE>
Page 19
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- ----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- ----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- ----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 43,956.25 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
41,084.46 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- --------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- --------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
</TABLE>
Page 20
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- ----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- ----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- ----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 46,198.02 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
43,146.18 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- --------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- --------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
</TABLE>
Page 21
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- ----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- ----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- ----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 48,439.79 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
45,310.99 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 50,681.56 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- --------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- --------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
</TABLE>
Page 22
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- ----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- ----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- ----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.51 71,608.95 57,051.51 61,148.75 66,126.70
47,584.04 52,923.33 73,864.54 71,608.94 57,051.50 61,148.76 66,126.70
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.04 52,923.33 0.00 0.00 0.00 0.00 0.00
47,584.06 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.33 0.00 0.00 0.00 0.00 0.00
0.00 52,923.35 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.62 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
50,907.63 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 32,352.06 28,222.01 22,715.28 23,403.62 19,961.91 27,533.67
0.00 1,084,181.24 945,775.12 761,233.77 784,301.40 668,962.91 922,707.48
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- --------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- --------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
15,831.86 14,317.51 19,617.74 14,111.00 16,176.03
530,556.78 479,807.94 657,429.07 472,887.40 542,090.62
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 23
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
59 60 61 62 64 65 66
-- -- -- -- -- -- --
PRICE PRICE
CHOPPER CHOPPER Q CLUBS Q CLUBS Q CLUBS Q CLUBS Q CLUBS
- ----------------------------------------------------------------------------------------------------------------------------------
WALLKILL ST. ALBAN'S CORAL SPRINGS PLANTATION MESQUITE RICHARDSON PLANO
NY VT FL FL TX TX TX
- ----------------------------------------------------------------------------------------------------------------------------------
5,544,666.27 6,067,932.30 8,476,307.61 8,217,471.25 6,546,935.03 7,017,113.02 7,588,356.71
- ----------------------------------------------------------------------------------------------------------------------------------
7.571% 7.950% 8.760% 8.760% 8.760% 8.760% 8.760%
- ----------------------------------------------------------------------------------------------------------------------------------
1ST 1ST 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
67 68 69 70 74 75 76
-- -- -- -- -- -- --
Q CLUBS RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------------------------------------------------------
WILLOW BROOK BRENTWOOD ELK GROVE NEWMAN TRUCKEE WATERTOWN CALDWELL
TX CA CA CA CA CT ID
- -----------------------------------------------------------------------------------------------------------------------------------
5,841,894.12 4,669,039.90 4,072,992.28 3,278,262.61 3,377,603.64 2,880,897.05 3,973,651.25
- -----------------------------------------------------------------------------------------------------------------------------------
8.760% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
77 78 79 80 81
-- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID
- --------------------------------------------------------------------------------------------------
CARROLTON SALYERSVILLE MADISON HGTS. MERRIMACK MILFORD
KY KY MI NH NH
- --------------------------------------------------------------------------------------------------
2,284,849.43 2,066,298.88 2,831,226.53 2,036,495.42 2,334,519.95
- --------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739%
- --------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 24
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
<CAPTION>
89 90 91 92 93 94
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- -----------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM
OH OH OH OH OR OR
- -----------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18
- -----------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- -----------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- -----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
<CAPTION>
95 96 97 98 99 100
-- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------
BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA PA TN UT VA VA
- ---------------------------------------------------------------------------------
2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
</TABLE>
Page 25
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
<CAPTION>
89 90 91 92 93 94
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM
OH OH OH OH OR OR
- ------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18
- ------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
<CAPTION>
95 96 97 98 99 100
-- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------
BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA PA TN UT VA VA
- ---------------------------------------------------------------------------------
2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
</TABLE>
Page 26
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
<CAPTION>
89 90 91 92 93 94
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM
OH OH OH OH OR OR
- ------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18
- ------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
<CAPTION>
95 96 97 98 99 100
-- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------
BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA PA TN UT VA VA
- ---------------------------------------------------------------------------------
2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
</TABLE>
Page 27
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
<CAPTION>
89 90 91 92 93 94
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM
OH OH OH OH OR OR
- ----------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18
- ----------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
<CAPTION>
95 96 97 98 99 100
-- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------
BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA PA TN UT VA VA
- ---------------------------------------------------------------------------------
2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
</TABLE>
Page 28
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
29,598.69 34,417.08 24,780.30 21,338.59 16,864.37 13,078.49 14,455.18
991,910.38 1,153,384.10 830,436.62 715,098.18 565,158.25 438,285.97 484,421.56
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
89 90 91 92 93 94
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM
OH OH OH OH OR OR
- ------------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18
- ------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
18,068.97 18,929.40 18,068.97 20,994.42 16,520.20 41,988.84
605,526.76 634,361.48 605,526.76 703,564.34 553,624.42 1,407,128.68
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
95 96 97 98 99 100
-- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------
BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA PA TN UT VA VA
- ---------------------------------------------------------------------------------
2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
18,206.64 17,655.96 13,353.83 23,403.62 17,896.88 16,520.20
610,140.34 591,686.00 447,513.12 784,301.40 599,759.68 553,624.42
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 29
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
82 83 84 85 86 87 88
-- -- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------
CARTERET LAS VEGAS BRENTWOOD BROOKLYN CATSKILL CHAMPLAIN RAVENA
NJ NV NY NY NY NY NY
- ------------------------------------------------------------------------------------------------
4,271,674.34 4,967,062.98 3,576,285.69 3,079,579.11 2,433,860.98 1,887,483.88 2,086,167.38
- ------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
89 90 91 92 93 94
-- -- -- -- -- --
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ----------------------------------------------------------------------------------
CLEVELAND DAYTON N. RIDGEVILLE WOODMERE LAKE OSWEGO SALEM
OH OH OH OH OR OR
- ----------------------------------------------------------------------------------
2,607,708.50 2,731,885.51 2,607,708.50 3,029,908.59 2,384,190.46 6,059,817.18
- ----------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ----------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
95 96 97 98 99 100
-- -- -- -- -- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ---------------------------------------------------------------------------------
BETHEL PARK PHILADELPHIA ELIZBETHTON WEST VALLEY ROANOKE STAUNTON
PA PA TN UT VA VA
- ---------------------------------------------------------------------------------
2,627,576.99 2,548,103.02 1,927,220.86 3,377,603.64 2,582,872.52 2,384,190.46
- ---------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ---------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
Page 30
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
101 102 103 104 105 106 107
--- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE
VA VT VT WA WA WA WV
- ------------------------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
<CAPTION>
108 109 110 111 112 113
--- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ------------------------------------------------------------------------------------------------------------------
VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
OH MI ME PA NY FL
- ------------------------------------------------------------------------------------------------------------------
1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ------------------------------------------------------------------------------------------------------------------
7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ------------------------------------------------------------------------------------------------------------------
10TH 10TH 1ST 1ST 10TH 10TH TOTAL
-----
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 18,741.15 4,787,581.01
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,739,165.49
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,739,165.49
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,805,249.72
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,738,773.05
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,738,773.05
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,868,769.05
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,801,108.06
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,803,269.67
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,871,729.54
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,802,863.11
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,802,709.87
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,872,336.10
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,802,242.70
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,802,242.70
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,898,098.71
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,826,756.47
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 6,068,518.97
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,891,776.74
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,819,163.37
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,925,310.46
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,892,024.73
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,818,117.54
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,925,932.11
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,892,060.59
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,816,836.51
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,926,671.86
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,892,318.26
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,815,753.78
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,927,481.05
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,892,544.60
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,814,615.82
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,928,267.59
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,892,812.36
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,813,494.91
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,928,935.37
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,892,857.51
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,812,126.63
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,932,055.09
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,895,463.39
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,813,724.71
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,933,351.18
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,898,103.27
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,814,469.38
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,936,156.41
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 5,026,691.54
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,812,516.38
</TABLE>
Page 31
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
101 102 103 104 105 106 107
--- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE
VA VT VT WA WA WA WV
- ------------------------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
<CAPTION>
108 109 110 111 112 113
--- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------------------------
VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
OH MI ME PA NY FL
- -------------------------------------------------------------------------------------------------------------------
1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- -------------------------------------------------------------------------------------------------------------------
7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 1ST 1ST 10TH 10TH TOTAL
-----
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,936,122.07
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 5,028,248.31
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,815,686.95
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,941,602.21
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 5,035,477.29
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,842,397.33
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,970,481.48
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 5,066,032.40
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,842,541.59
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 4,972,831.99
12,779.46 12,880.08 15,271.75 19,803.55 13,476.46 28,169.58 5,106,004.17
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,842,193.41
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,974,541.79
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,110,133.32
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,839,572.47
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,974,390.03
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,112,576.95
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,837,160.61
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,974,300.40
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,115,023.08
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,834,663.92
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,976,672.40
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,120,063.04
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,834,672.19
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,976,381.54
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,122,379.04
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,831,865.99
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,976,215.25
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,125,005.71
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,829,278.38
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,212,048.93
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,126,281.46
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,825,246.06
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,214,609.84
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,127,626.76
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,821,187.80
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,217,053.01
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,128,721.11
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,816,781.44
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,219,674.32
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,130,118.70
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,812,579.35
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,222,412.06
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,131,496.84
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,808,257.10
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,225,149.18
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,132,948.74
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,803,906.07
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,227,763.49
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,134,137.90
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,799,187.92
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,233,264.60
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,138,345.22
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,797,812.52
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,236,620.71
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,142,326.50
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,795,241.16
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,241,607.82
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,296,569.40
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,789,681.77
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,243,510.67
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,299,650.12
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,789,891.49
</TABLE>
Page 32
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
101 102 103 104 105 106 107
--- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE
VA VT VT WA WA WA WV
- ------------------------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
<CAPTION>
108 109 110 111 112 113
--- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------------------------
VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
OH MI ME PA NY FL
- -------------------------------------------------------------------------------------------------------------------
1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- -------------------------------------------------------------------------------------------------------------------
7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 1ST 1ST 10TH 10TH TOTAL
-----
- -------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,251,767.92
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 16,523,351.14
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,683,937.05
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,153,769.30
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 7,965,861.71
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 4,649,035.31
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,126,960.42
12,779.46 12,880.08 15,271.75 21,783.89 13,476.46 28,169.58 5,229,758.02
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,644,973.45
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,130,893.08
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,235,816.79
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,638,302.49
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,132,833.92
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,240,095.59
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,631,839.82
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,134,889.55
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,244,400.06
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,625,209.33
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,139,830.40
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,251,745.28
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,621,422.59
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,141,702.02
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,255,929.98
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,614,274.76
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 14,930,047.52
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,151,493.48
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,498,301.58
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,317,679.80
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,154,515.51
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,489,579.04
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,323,071.05
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,157,653.08
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,480,760.43
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,328,347.24
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,160,497.66
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,471,433.37
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,333,886.47
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,163,757.04
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,462,301.82
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,339,610.68
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,167,019.96
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,452,950.49
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,345,370.99
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,170,405.91
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,443,494.86
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,351,012.10
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,173,485.95
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,432,143.92
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,316,185.01
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,136,257.30
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,383,395.50
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,322,730.74
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,142,375.91
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,375,534.75
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,331,050.04
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,327,714.46
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,364,331.65
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,336,016.72
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,333,177.84
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,359,661.28
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,348,377.57
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,242,596.99
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,164,199.15
</TABLE>
Page 33
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
101 102 103 104 105 106 107
--- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE
VA VT VT WA WA WA WV
- ------------------------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
<CAPTION>
108 109 110 111 112 113
--- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------------------------
VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
OH MI ME PA NY FL
- -------------------------------------------------------------------------------------------------------------------
1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- -------------------------------------------------------------------------------------------------------------------
7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 1ST 1ST 10TH 10TH TOTAL
-----
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,169,946.08
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,168,405.50
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 4,154,570.91
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,177,641.83
12,779.46 12,880.08 15,271.75 23,962.24 13,476.46 28,169.58 5,227,577.92
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 28,169.58 4,144,621.87
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 28,169.52 5,185,011.71
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,208,362.45
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,103,480.14
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,162,099.40
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,215,459.85
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,090,695.28
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,167,549.26
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,222,621.67
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,077,616.29
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,173,019.08
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,229,987.37
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,064,376.13
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,178,328.64
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,237,061.53
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,050,472.81
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,183,937.23
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,244,705.70
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,036,761.13
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,523,856.84
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,250,502.80
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,020,817.19
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,533,528.13
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,256,484.60
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 4,004,665.78
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,543,098.64
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,262,130.40
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 3,987,779.13
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,553,053.41
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,202,502.30
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 3,905,212.10
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,497,446.57
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,208,760.15
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 3,888,117.22
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,507,777.93
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,215,215.23
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 3,870,798.23
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,518,006.36
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,221,320.84
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 3,852,700.88
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,528,639.46
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,226,955.15
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 3,818,637.79
12,779.46 12,880.08 15,271.75 26,358.45 13,476.46 0.00 5,523,444.41
12,779.46 12,881.65 15,271.75 26,358.45 13,476.46 0.00 5,220,926.86
12,779.46 0.00 15,271.75 26,358.45 13,476.46 0.00 3,789,701.67
12,779.46 0.00 15,269.72 26,358.45 13,476.46 0.00 5,523,871.55
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 4,058,464.87
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 3,762,544.78
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 5,526,216.85
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 3,630,944.35
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 3,277,424.71
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 5,071,853.38
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 3,572,796.08
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 3,272,450.32
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 5,097,788.02
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 13,338,574.98
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 3,116,438.56
</TABLE>
Page 34
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
101 102 103 104 105 106 107
--- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE
VA VT VT WA WA WA WV
- ------------------------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
19,961.91 13,216.16 11,357.64 23,403.62 17,896.88 28,910.35 8,604.27
668,962.91 442,899.54 380,616.86 784,301.40 599,759.68 968,842.75 288,346.05
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
108 109 110 111 112 113
--- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- ------------------------------------------------------------------------------------------------------------------
VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
OH MI ME PA NY FL
- ------------------------------------------------------------------------------------------------------------------
1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- ------------------------------------------------------------------------------------------------------------------
7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- ------------------------------------------------------------------------------------------------------------------
10TH 10TH 1ST 1ST 10TH 10TH TOTAL
-----
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
12,779.46 0.00 0.00 26,358.45 13,476.46 0.00 4,973,217.70
12,779.46 0.00 0.00 26,358.60 13,476.46 0.00 3,105,777.70
12,779.46 0.00 0.00 0.00 13,476.46 0.00 3,079,419.10
12,779.46 0.00 0.00 0.00 13,476.46 0.00 4,967,794.02
12,779.46 0.00 0.00 0.00 13,476.46 0.00 3,068,187.22
12,779.46 0.00 0.00 0.00 13,476.46 0.00 3,068,187.22
12,779.46 0.00 0.00 0.00 13,476.46 0.00 4,989,483.31
12,779.46 0.00 0.00 0.00 13,476.46 0.00 3,057,155.77
12,779.46 0.00 0.00 0.00 13,476.46 0.00 3,057,155.77
12,779.46 0.00 0.00 0.00 13,476.46 0.00 5,011,546.20
12,779.46 0.00 0.00 0.00 13,476.46 0.00 2,926,913.99
12,779.46 0.00 0.00 0.00 13,476.46 0.00 2,926,913.99
12,779.46 0.00 0.00 0.00 13,476.46 0.00 4,914,968.78
12,779.46 0.00 0.00 0.00 13,476.46 0.00 2,915,499.27
12,779.46 0.00 0.00 0.00 13,476.46 0.00 2,534,791.20
12,779.46 0.00 0.00 0.00 13,476.46 0.00 4,556,681.56
12,779.46 0.00 0.00 0.00 13,476.46 0.00 2,111,740.71
12,779.46 0.00 0.00 0.00 13,476.46 0.00 2,111,740.71
12,779.46 0.00 0.00 0.00 0.00 0.00 4,155,397.09
12,777.46 0.00 0.00 0.00 0.00 0.00 2,086,450.88
0.00 0.00 0.00 0.00 0.00 0.00 2,073,673.39
0.00 0.00 0.00 0.00 0.00 0.00 1,818,145.42
0.00 0.00 0.00 0.00 0.00 0.00 1,818,145.45
0.00 0.00 0.00 0.00 0.00 0.00 1,668,085.42
0.00 0.00 0.00 0.00 0.00 0.00 26,173,466.65
0.00 0.00 0.00 0.00 0.00 0.00 914,351.27
0.00 0.00 0.00 0.00 0.00 0.00 914,349.21
0.00 0.00 0.00 0.00 0.00 0.00 889,140.18
0.00 0.00 0.00 0.00 0.00 0.00 889,140.18
0.00 0.00 0.00 0.00 0.00 0.00 889,140.18
0.00 0.00 0.00 0.00 0.00 0.00 889,140.18
0.00 0.00 0.00 0.00 0.00 0.00 889,140.18
0.00 0.00 0.00 0.00 0.00 0.00 536,451.43
0.00 0.00 0.00 0.00 0.00 0.00 536,451.43
0.00 0.00 0.00 0.00 0.00 0.00 536,451.43
0.00 0.00 0.00 0.00 0.00 0.00 536,451.43
0.00 0.00 0.00 0.00 0.00 0.00 536,451.43
0.00 0.00 0.00 0.00 0.00 0.00 536,449.24
0.00 0.00 0.00 0.00 0.00 0.00 389,626.82
0.00 0.00 0.00 0.00 0.00 0.00 389,178.54
0.00 0.00 0.00 0.00 0.00 0.00 389,178.54
0.00 0.00 0.00 0.00 0.00 0.00 389,178.54
0.00 0.00 0.00 0.00 0.00 0.00 389,175.67
0.00 0.00 0.00 0.00 0.00 0.00 336,219.81
0.00 0.00 0.00 0.00 0.00 0.00 336,219.81
0.00 0.00 0.00 0.00 0.00 0.00 336,219.83
0.00 0.00 0.00 0.00 0.00 0.00 288,635.77
0.00 0.00 0.00 0.00 0.00 0.00 288,635.77
0.00 0.00 0.00 0.00 0.00 0.00 288,638.56
0.00 0.00 0.00 0.00 0.00 0.00 265,121.34
0.00 0.00 0.00 0.00 0.00 0.00 265,121.34
0.00 0.00 0.00 0.00 0.00 0.00 264,650.64
0.00 0.00 0.00 0.00 0.00 0.00 264,650.64
0.00 0.00 0.00 0.00 0.00 0.00 264,650.64
0.00 0.00 0.00 0.00 0.00 0.00 264,649.18
0.00 0.00 0.00 0.00 0.00 0.00 229,035.22
0.00 0.00 0.00 0.00 0.00 0.00 236,752.61
0.00 0.00 0.00 0.00 0.00 0.00 236,752.61
0.00 0.00 0.00 0.00 0.00 0.00 236,752.63
0.00 0.00 0.00 0.00 0.00 0.00 183,829.28
0.00 0.00 0.00 0.00 0.00 0.00 183,829.28
0.00 0.00 0.00 0.00 0.00 0.00 183,829.28
0.00 0.00 0.00 0.00 0.00 0.00 183,829.77
</TABLE>
Page 35
<PAGE>
GROSS CASHFLOW
<TABLE>
<CAPTION>
101 102 103 104 105 106 107
--- --- --- --- --- --- ---
RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID RITE AID
- ------------------------------------------------------------------------------------------------------------------------------------
VIRGINIA BEACH ESSEX MIDDLEBURY ELLENSBURG PULLMAN YAKIMA BELLE
VA VT VT WA WA WA WV
- ------------------------------------------------------------------------------------------------------------------------------------
2,880,897.05 1,907,352.37 1,639,131.30 3,377,603.64 2,582,872.52 4,172,333.31 1,241,765.75
- ------------------------------------------------------------------------------------------------------------------------------------
6.739% 6.739% 6.739% 6.739% 6.739% 6.739% 6.739%
- ------------------------------------------------------------------------------------------------------------------------------------
10TH 10TH 10TH 10TH 10TH 10TH 10TH
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 0.00
<CAPTION>
108 109 110 111 112 113
--- --- --- --- --- ---
TIME
RITE AID RITE AID RITE AID RITE AID RITE AID WARNER
- -------------------------------------------------------------------------------------------------------------------
VERMILLION TRAVERSE CITY OLD ORCHARD BEACH LANSDALE SCHENECTADY TAMPA
OH MI ME PA NY FL
- -------------------------------------------------------------------------------------------------------------------
1,689,673.43 1,575,114.51 1,826,132.74 2,688,537.94 1,681,245.78 3,055,623.03
- -------------------------------------------------------------------------------------------------------------------
7.050% 7.253% 7.620% 7.670% 7.740% 7.360%
- -------------------------------------------------------------------------------------------------------------------
10TH 10TH 1ST 1ST 10TH 10TH TOTAL
-----
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00 40,895.04
</TABLE>
Page 36
<PAGE>
PROSPECTUS
MORTGAGE PASS-THROUGH CERTIFICATES
(ISSUABLE IN SERIES)
MERRILL LYNCH MORTGAGE INVESTORS, INC.
DEPOSITOR
----------
The mortgage pass-through certificates (the "Offered Certificates") offered
hereby and by the supplements hereto (each, a "Prospectus Supplement") will be
offered from time to time in series. The Offered Certificates of each series,
together with any other mortgage pass-through certificates of such series, are
collectively referred to herein as the "Certificates."
Each series of Certificates will represent in the aggregate the entire
beneficial ownership interest in a trust fund (with respect to any series, the
"Trust Fund") consisting primarily of a segregated pool of one or more of
various types of multifamily or commercial mortgage loans (the "Mortgage Loans")
secured by interests in the following property types: retail stores, office
buildings, health-care related facilities, warehouse facilities, or other types
of income producing properties, mortgage-backed securities ("MBS") that evidence
interests in, or that are secured by pledges of, one or more of various types of
multifamily or commercial mortgage loans, or a combination of Mortgage Loans and
MBS (collectively, "Mortgage Assets"). See "Description of the Trust Funds."
Mortgage Loans (or mortgage loans underlying an MBS) may be delinquent as of the
date Certificates of a series are issued, if so specified in the related
Prospectus Supplement. If so specified in the related Prospectus Supplement, the
Trust Fund for a series of Certificate may include amounts on deposit in a
separate account (the "Pre-Funding Account") which may be used by the Trust Fund
to acquire additional assets as more fully described herein and in the related
Prospectus Supplement. If so specified in the related Prospectus Supplement, the
Trust Fund for a series of Certificates may include letters of credit, insurance
policies, guarantees, reserve funds or other types of credit support, or any
combination thereof (with respect to any series, collectively, "Credit
Support"), and currency or interest rate exchange agreements and other financial
assets, or any combination thereof (with respect to any series, collectively,
"Cash Flow Agreements"). See "Risk Factors--Effects of Pre-Funding and
Acquisition of Additional Mortgage Assets," "Description of the Certificates"
and "Description of Credit Support."
Each series of Certificates will consist of one or more classes of
Certificates, and such class or classes (including classes of Offered
Certificates) may (i) provide for the accrual of interest thereon based on a
fixed, variable or adjustable rate; (ii) be senior or subordinate to one or more
other classes of Certificates in entitlement to certain distributions on the
Certificates; (iii) be entitled to distributions of principal, with
disproportionately small, nominal or no distributions of interest; (iv) be
entitled to distributions of interest, with disproportionately small, nominal or
no distributions of principal; (v) provide for distributions of principal and/or
interest that commence only following the occurrence of certain events, such as
the retirement of one or more other classes of Certificates of such series; (vi)
provide for distributions of principal to be made, from time to time or for
designated periods, at a rate that is faster (and, in some cases, substantially
faster) or slower (and, in some cases, substantially slower) than the rate at
which payments or other collections of principal are received on the Mortgage
Assets in the related Trust Fund; or (vii) provide for distributions of
principal to be made, subject to available funds, based on a specified principal
payment schedule or other methodology. See "Description of the Certificates."
Distributions in respect of the Certificates of each series will be made on
a monthly, quarterly, semi-annual or other periodic basis as specified in the
related Prospectus Supplement. Such distributions will be made only from the
assets of the related Trust Fund.
This Prospectus and related Prospectus Supplements may be used by the
Depositor, Merrill Lynch, an affiliate of the Depositor, and any other affiliate
of the Depositor when required under the federal securities law in connection
with offers and sales of Offered Certificates in furtherance of market-making
activities in Offered Certificates. Merrill Lynch or any such other affiliate
may act as principal or agent in such transactions. Such sales will be made at
prices related to prevailing marketing prices at the time of sale or otherwise.
No Certificates of any series will represent an obligation of or interest
in the Depositor or any of its affiliates, except to the limited extent
described herein and in the related Prospectus Supplement. Neither the
Certificates of any series nor the assets in the related Trust Fund will be
guaranteed or insured by any governmental agency or instrumentality or by any
other person, unless otherwise provided in the related Prospectus Supplement.
The assets in each Trust Fund will be held in trust for the benefit of the
holders of the related series of Certificates (the "Certificateholders")
pursuant to a Pooling Agreement, as more fully described herein.
The yield on each class of Certificates of a series will be affected by,
among other things, the rate of payment of principal (including prepayments) on
the Mortgage Assets in the related Trust Fund and the timing of receipt of such
payments as described herein and in the related Prospectus Supplement. See
"Yield and Maturity Considerations." A Trust Fund may be subject to early
termination under the circumstances described herein and in the related
Prospectus Supplement. See "Description of the Certificates."
If so provided in the related Prospectus Supplement, one or more elections
may be made to treat the related Trust Fund or a designated portion thereof as a
"real estate mortgage investment conduit" (a "REMIC") for federal income tax
purposes. See "Material Federal Income Tax Consequences" herein.
----------
PROSPECTIVE INVESTORS SHOULD CONSIDER THE INFORMATION SET FORTH UNDER " RISK
FACTORS" ON PAGE 16 OF THIS PROSPECTUS AND SUCH INFORMATION AS MAY BE SET
FORTH UNDER THE CAPTION "RISK FACTORS" IN THE RELATED PROSPECTUS
SUPPLEMENT BEFORE PURCHASING ANY OFFERED CERTIFICATE.
----------
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS
PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY
IS A CRIMINAL OFFENSE.
Prior to issuance there will have been no market for the Certificates of
any series and there can be no assurance that a secondary market for any Offered
Certificates will develop or that, if it does develop, it will continue. See
"Risk Factors." This Prospectus may not be used to consummate sales of the
Offered Certificates of any series unless accompanied by the Prospectus
Supplement for such series.
The Offered Certificates of any series may be offered through one or more
different methods, including offerings through underwriters, as more fully
described under "Method of Distribution" herein and in the related Prospectus
Supplement.
FEBRUARY 25, 1998
<PAGE>
PROSPECTUS SUPPLEMENT
As more particularly described herein, each Prospectus Supplement will,
among other things, set forth, as and to the extent appropriate: (i) a
description of the class or classes of Offered Certificates of the related
series, including the payment provisions with respect to each such class, the
aggregate principal amount of each such class (the "Certificate Balance"), the
rate at which interest will accrue from time to time, if at all, with respect to
each such class (the "Pass-Through Rate") or the method of determining such
rate; (ii) information with respect to any other classes of Certificates of the
same series; (iii) the respective dates on which distributions are to be made to
Certificateholders; (iv) information as to the assets constituting the related
Trust Fund, including the general characteristics of the assets included
therein, including the Mortgage Assets and any Credit Support and Cash Flow
Agreements (with respect to the Certificates of any series, the "Trust Assets");
(v) the circumstances, if any, under which the related Trust Fund may be subject
to early termination; (vi) additional information with respect to the method of
distribution of such Offered Certificates; (vii) whether one or more REMIC
elections will be made and the designation of the "regular interests" and
"residual interests" in each REMIC to be created; (viii) the initial percentage
ownership interest in the related Trust Fund to be evidenced by each class of
Certificates of such series; (ix) information concerning the trustee (as to any
series, the "Trustee") of the related Trust Fund; (x) information concerning the
master servicer (as to any series, the "Master Servicer") and any special
servicer (as to any series, the "Special Servicer") engaged to administer the
related Mortgage Assets; (xi) information as to the nature and extent of any
subordination in entitlement to distributions of any class of Certificates of
such series; and (xii) whether such Offered Certificates will be initially
issued in definitive or book-entry form.
AVAILABLE INFORMATION
The Depositor has filed with the Securities and Exchange Commission (the
"Commission") a Registration Statement (of which this Prospectus forms a part)
under the Securities Act of 1933, as amended, with respect to the Offered
Certificates. This Prospectus and the Prospectus Supplement relating to the
Offered Certificates of each series contain summaries of the material terms of
the documents referred to herein and therein, but do not contain all of the
information set forth in the Registration Statement pursuant to the rules and
regulations of the Commission. For further information, reference is made to
such Registration Statement and the exhibits thereto. Such Registration
Statement and exhibits can be inspected and copied at prescribed rates at the
public reference facilities maintained by the Commission at its Public Reference
Section, 450 Fifth Street, N.W., Washington, D.C. 20549, and at its Regional
Offices located as follows: Chicago Regional Office, 500 West Madison, 14th
Floor, Chicago, Illinois 60661; and New York Regional Office, Seven World Trade
Center, New York, New York 10048. Publicly filed information, including
information regarding the Registrant, is available at the Commission's web site
at www.sec.gov.
No person has been authorized to give any information or to make any
representation not contained in this Prospectus and any related Prospectus
Supplement and, if given or made, such information or representation must not be
relied upon. This Prospectus and any related Prospectus Supplement do not
constitute an offer to sell or a solicitation of an offer to buy any securities
other than the Offered Certificates, or an offer of the Offered Certificates to
any person in any state or other jurisdiction in which such offer would be
unlawful. The delivery of this Prospectus at any time does not imply that
information herein is correct as of any time subsequent to its date; however, if
any material change occurs while this Prospectus is required by law to be
delivered, this Prospectus will be amended or supplemented accordingly.
The related Master Servicer or Trustee will be required to mail to holders
of the Offered Certificates of each series periodic unaudited reports concerning
the related Trust Fund. If beneficial interests in a class of Offered
Certificates are being held and transferred in book-entry format through the
facilities of The Depository Trust Company ("DTC") as described herein, then
unless otherwise provided in the related Prospectus Supplement, such reports
will be sent on behalf of the related Trust Fund to a nominee of DTC as the
registered holder of the Offered Certificates. The means by which notices and
other communications are conveyed by DTC to its participating organizations, and
directly or indirectly through such participating organizations to the
beneficial owners of the applicable Offered Certificates, will be governed by
arrangements among them, subject to any statutory or regulatory requirements as
may be in effect from time to time. See "Description of the
Certificates--Reports to Certificateholders" and "--Book-Entry Registration and
Definitive Certificates," and "Description of the Pooling Agreements--Evidence
as to Compliance." The Depositor will file or cause to be filed with the
Commission such periodic reports with respect to each Trust Fund as are required
under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and
the rules and regulations of the Commission thereunder.
2
<PAGE>
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
There are incorporated herein by reference all documents and reports filed
or caused to be filed by the Depositor with respect to a Trust Fund pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, prior to the termination
of an offering of Offered Certificates evidencing interests therein. The
Depositor, upon request, will provide or cause to be provided without charge to
each person to whom this Prospectus is delivered in connection with the offering
of one or more classes of Offered Certificates, a copy of any or all documents
or reports incorporated herein by reference, in each case to the extent such
documents or reports relate to one or more of such classes of such Offered
Certificates, other than the exhibits to such documents (unless such exhibits
are specifically incorporated by reference in such documents). Requests to the
Depositor should be directed in writing to its principal executive office at
250Vesey Street, Fifteenth Floor, New York, New York 10281-1315, Attention:
Secretary, or by telephone at (212)449-0336. The Depositor has determined that
its financial statements will not be material to the offering of any Offered
Certificates.
3
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
----
<S> <C>
PROSPECTUS SUPPLEMENT ...................................................................................................... 2
AVAILABLE INFORMATION ...................................................................................................... 2
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE .......................................................................... 3
SUMMARY OF PROSPECTUS ...................................................................................................... 8
RISK FACTORS ............................................................................................................... 16
Limited Liquidity for Offered Certificates ............................................................................... 16
Limited Assets to Support Payment on Certificates ........................................................................ 16
Prepayments on Mortgage Loans; Effects on Average Life of Certificates; Effects on Yields
on Certificates ......................................................................................................... 16
Optional Early Termination ............................................................................................... 18
Limited Nature of Ratings on Certificates ................................................................................ 18
Effects of Pre-Funding and Acquisition of Additional Mortgage Assets ..................................................... 18
Risks to Lenders Associated With Certain Income Producing Loans and Mortgaged Properties ................................. 18
Risks Associated with Mortgage Loans Secured by Retail Properties ...................................................... 19
Risks Associated with Mortgage Loans Secured by Office Buildings ....................................................... 19
Risks Associated with Mortgage Loans Secured by Residential Healthcare Facilities ...................................... 20
Risks Associated with Mortgage Loans Secured by Health Care-Related Properites ......................................... 20
Risks Associated with Mortgage Loans Secured by Warehouse and Storage Facilities ....................................... 22
Risks Associated with Mortgage Loans Secured by Industrial & Mixed-Use Facilities ...................................... 22
Management Risks ......................................................................................................... 22
Balloon Payments on Mortgage Loans; Heightened Risk of Borrower Default .................................................. 22
Leases and Rents Serving as Security for Mortgage Loans Pose Special Risks ............................................... 23
Delinquent Mortgage Loans ................................................................................................ 23
Environmental Liability May Affect Lien on Mortgaged Property and Expose Lender to Costs ................................. 23
Credit Support Limitations--May Not Cover All Risks or Full Payment on Certificates ...................................... 24
Certain Federal Tax Considerations Regarding REMIC Residual Certificates ................................................. 24
ERISA Considerations--Covered Investors May Experience Liability ......................................................... 24
Book-Entry Registration of Certificates Affects Ownership of Certificates and Receipt of Payment ......................... 25
DESCRIPTION OF THE TRUST FUNDS ............................................................................................. 25
General .................................................................................................................. 25
Mortgage Loans ........................................................................................................... 25
General ................................................................................................................ 25
Default and Loss Considerations with Respect to the Mortgage Loans ..................................................... 26
Payment Provisions of the Mortgage Loans ............................................................................... 27
Mortgage Loan Information in Prospectus Supplements .................................................................... 27
MBS ...................................................................................................................... 28
Certificate Accounts ..................................................................................................... 28
Credit Support ........................................................................................................... 28
Cash Flow Agreements ..................................................................................................... 29
Pre-Funding .............................................................................................................. 29
YIELD AND MATURITY CONSIDERATIONS .......................................................................................... 29
General .................................................................................................................. 29
Pass-Through Rate ........................................................................................................ 29
Payment Delays ........................................................................................................... 30
Certain Shortfalls in Collections of Interest ............................................................................ 30
Yield and Prepayment Considerations ...................................................................................... 30
Weighted Average Life and Maturity ....................................................................................... 31
Controlled Amortization Classes and Companion Classes .................................................................... 32
Other Factors Affecting Yield, Weighted Average Life and Maturity ........................................................ 32
Balloon Payments; Extensions of Maturity ............................................................................... 32
Negative Amortization .................................................................................................. 33
Foreclosures and Payment Plans ......................................................................................... 33
Losses and Shortfalls on the Mortgage Assets ........................................................................... 33
Additional Certificate Amortization .................................................................................... 34
</TABLE>
4
<PAGE>
<TABLE>
PAGE
----
<S> <C>
THE DEPOSITOR .............................................................................................................. 35
USE OF PROCEEDS ............................................................................................................ 35
DESCRIPTION OF THE CERTIFICATES ............................................................................................ 35
General .................................................................................................................. 35
Distributions ............................................................................................................ 35
Distributions of Interest on the Certificates ............................................................................ 36
Distributions of Certificate Principal ................................................................................... 37
Distributions on the Certificates in Respect of Prepayment Premiums or in Respect of
Equity Participations ................................................................................................... 37
Allocation of Losses and Shortfalls ...................................................................................... 37
Advances in Respect of Delinquencies ..................................................................................... 38
Reports to Certificateholders ............................................................................................ 38
Voting Rights ............................................................................................................ 40
Termination .............................................................................................................. 40
Book-entry Registration and Definitive Certificates ...................................................................... 41
DESCRIPTION OF THE POOLING AGREEMENTS ...................................................................................... 42
General .................................................................................................................. 42
Assignment of Mortgage Loans; Repurchases ................................................................................ 42
Representations and Warranties; Repurchases .............................................................................. 43
Certificate Account ...................................................................................................... 44
General ................................................................................................................ 44
Deposits ............................................................................................................... 44
Withdrawals ............................................................................................................ 45
Collection and Other Servicing Procedures ................................................................................ 46
Modifications, Waivers and Amendments of Mortgage Loans .................................................................. 46
Sub-Servicers ............................................................................................................ 46
Special Servicers ........................................................................................................ 47
Realization Upon Defaulted Mortgage Loans ................................................................................ 47
Hazard Insurance Policies ................................................................................................ 48
Due-on-Sale and Due-on-Encumbrance Provisions ............................................................................ 49
Servicing Compensation and Payment of Expenses ........................................................................... 49
Evidence as to Compliance ................................................................................................ 50
Certain Matters Regarding the Master Servicer and the Depositor .......................................................... 50
Events of Default ........................................................................................................ 51
Rights Upon Event of Default ............................................................................................. 51
Amendment ................................................................................................................ 52
List of Certificateholders ............................................................................................... 52
The Trustee .............................................................................................................. 52
Duties of the Trustee .................................................................................................... 52
Certain Matters Regarding the Trustee .................................................................................... 53
Resignation and Removal of the Trustee ................................................................................... 53
DESCRIPTION OF CREDIT SUPPORT .............................................................................................. 53
General .................................................................................................................. 53
Subordinate Certificates ................................................................................................. 54
Cross-support Provisions ................................................................................................. 54
</TABLE>
5
<PAGE>
<TABLE>
<CAPTION>
PAGE
----
<S> <C>
Insurance or Guarantees with Respect to Mortgage Loans ................................................................... 54
Letter of Credit ......................................................................................................... 54
Certificate Insurance and Surety Bonds ................................................................................... 54
Reserve Funds ............................................................................................................ 55
Credit Support with Respect to MBS ....................................................................................... 55
CERTAIN LEGAL ASPECTS OF MORTGAGE LOANS .................................................................................... 55
General .................................................................................................................. 55
Types of Mortgage Instruments ............................................................................................ 56
Leases and Rents ......................................................................................................... 56
Personalty ............................................................................................................... 56
Junior Mortgages; Rights of Senior Lenders ............................................................................... 56
Foreclosure .............................................................................................................. 57
General ................................................................................................................ 57
Foreclosure Procedures Vary From State to State ........................................................................ 57
Judicial Foreclosure ................................................................................................... 57
Non-Judicial Foreclosure/Power of Sale ................................................................................. 58
Limitations on the Rights of Mortgage Lenders .......................................................................... 58
Rights of Redemption ................................................................................................... 59
Anti-Deficiency Legislation ............................................................................................ 59
Leasehold Considerations ............................................................................................... 59
Bankruptcy Laws .......................................................................................................... 60
Environmental Considerations ............................................................................................. 61
General ................................................................................................................ 61
Superlien Laws ......................................................................................................... 61
CERCLA ................................................................................................................. 61
Certain State and Other Federal Laws ................................................................................... 61
Additional Considerations .............................................................................................. 62
Due-on-Sale and Due-on-Encumbrance ....................................................................................... 62
Subordinate Financing .................................................................................................... 62
Default Interest and Limitations on Prepayments .......................................................................... 63
Applicability of Usury Laws .............................................................................................. 63
Soldiers' and Sailors' Civil Relief Act of 1940 .......................................................................... 63
Americans with Disabilities Act .......................................................................................... 63
MATERIAL FEDERAL INCOME TAX CONSEQUENCES ................................................................................... 64
General .................................................................................................................. 64
REMICs ................................................................................................................... 64
Classification of REMICs ............................................................................................... 64
Characterization of Investments in REMIC Certificates .................................................................. 65
Tiered REMIC Structures ................................................................................................ 65
Taxation of Owners of REMIC Regular Certificates ......................................................................... 66
General ................................................................................................................ 66
Original Issue Discount ................................................................................................ 66
Market Discount ........................................................................................................ 67
Premium ................................................................................................................ 69
Realized Losses ........................................................................................................ 69
</TABLE>
6
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<TABLE>
<CAPTION>
PAGE
----
<S> <C>
Taxation of Owners of REMIC Residual Certificates .......................................................................... 70
General .................................................................................................................. 70
Taxable Income of the REMIC .............................................................................................. 70
Basis Rules, Net Losses and Distributions ................................................................................ 71
Excess Inclusions ........................................................................................................ 72
Noneconomic REMIC Residual Certificates .................................................................................. 73
Mark-to-Market Rules ..................................................................................................... 73
Possible Pass-Through of Miscellaneous Itemized Deductions ............................................................... 74
Sales of REMIC Certificates .............................................................................................. 74
Prohibited Transactions Tax and Other Taxes .............................................................................. 75
Tax and Restrictions on Transfers of REMIC Residual Certificates to Certain Organizations ................................ 76
Termination .............................................................................................................. 76
Reporting and Other Administrative Matters ............................................................................... 77
Backup Withholding with Respect to REMIC Certificates .................................................................... 77
Foreign Investors in REMIC Certificates .................................................................................. 77
Grantor Trust Funds ........................................................................................................ 78
Classification of Grantor Trust Funds .................................................................................... 78
Characterization of Investments in Grantor Trust Certificates .............................................................. 78
Grantor Trust Fractional Interest Certificates ........................................................................... 78
Grantor Trust Strip Certificates ......................................................................................... 79
Taxation of Owners of Grantor Trust Fractional Interest Certificates ....................................................... 79
General .................................................................................................................. 79
If Stripped Bond Rules Apply ............................................................................................. 80
If Stripped Bond Rules Do Not Apply ...................................................................................... 81
Market Discount .......................................................................................................... 82
Premium .................................................................................................................. 83
Taxation of Owners of Grantor Trust Strip Certificates ................................................................... 84
Possible Application of Proposed Contingent Payment Rules ................................................................ 85
Sales of Grantor Trust Certificates ...................................................................................... 85
Grantor Trust Reporting .................................................................................................. 85
Backup Withholding ....................................................................................................... 86
Foreign Investors ........................................................................................................ 86
STATE AND OTHER TAX CONSEQUENCES ........................................................................................... 86
ERISA CONSIDERATIONS ....................................................................................................... 86
General .................................................................................................................. 86
Plan Asset Regulations ................................................................................................... 86
Prohibited Transaction Exemptions ........................................................................................ 87
LEGAL INVESTMENT ........................................................................................................... 88
METHOD OF DISTRIBUTION ..................................................................................................... 90
LEGAL MATTERS .............................................................................................................. 91
FINANCIAL INFORMATION ...................................................................................................... 91
RATING ..................................................................................................................... 91
INDEX OF DEFINITIONS ....................................................................................................... 92
</TABLE>
7
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SUMMARY OF PROSPECTUS
The following summary of certain pertinent information is qualified in its
entirety by reference to the more detailed information appearing elsewhere in
this Prospectus and by reference to the information with respect to each series
of Certificates contained in the Prospectus Supplement to be prepared and
delivered in connection with the offering of Offered Certificates of such
series. An Index of Definitions is included at the end of this Prospectus.
Title of Certificates .............. Mortgage Pass-Through Certificates,
issuable in series (the "Certificates").
Depositor .......................... Merrill Lynch Mortgage Investors, Inc., a
wholly-owned limited purpose subsidiary
of Merrill Lynch Mortgage Capital Inc.
(the "Depositor"). See "The Depositor."
Issuer ............................. The Trust Fund established under a
Pooling and Servicing Agreement, as
described below in this Summary of
Prospectus under "Description of
Certificates."
Master Servicer .................... The master servicer (the "Master
Servicer"), if any, for a series of
Certificates will be named in the
related Prospectus Supplement and may be
an affiliate of the Depositor. See
"Description of the Pooling
Agreements--Collection and Other
Servicing Procedures."
Special Servicer ................... The special servicer (the "Special
Servicer"), if any, for a series of
Certificates will be named, or the
circumstances under which a Special
Servicer will be appointed will be
described, in the related Prospectus
Supplement. See "Description of the
Pooling Agreements--Special Servicers."
Trustee ............................ The trustee (the "Trustee") for each
series of Certificates will be named in
the related Prospectus Supplement. See
"Description of the Pooling
Agreements--The Trustee."
The Trust Assets ................... Each series of Certificates will
represent in the aggregate the entire
beneficial ownership interest in a Trust
Fund consisting primarily of:
A. Mortgage Assets ............ The Mortgage Assets with respect to each
series of Certificates willconsist of a
pool of mortgage loans (collectively,
the "Mortgage Loans") secured by liens
on, or security interests in, retail
stores, office buildings, health-care
related facilities, warehouse
facilities, or other types of
income-producing properties (the
"Commercial Properties"). If so
specified in the related Prospectus
Supplement, a Trust Fund may include
Mortgage Loans secured by liens on real
estate projects under construction. If
so specified in the related Prospectus
Supplement, some Mortgage Loans may be
delinquent as of the date of their
deposit into the related Trust Fund. A
Mortgage Loan will be considered
"delinquent" if it is thirty (30) days
or more past its most recently
contractual scheduled payment date in
payment of all amounts due according to
its terms. In any event, at the time of
its creation the Trust Fund will not
include delinquent loans which by
principal amount are more than 20% of
the aggregate principal amount of all
Mortgage Loans in the Trust Fund. The
Mortgage Loans will not be guaranteed or
insured by the Depositor, any of its
affiliates or, unless otherwise
specified in the Prospectus Supplement,
by any governmental agency or
instrumentality or other person.
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8
<PAGE>
As and to the extent described in the
related Prospectus Supplement, a
Mortgage Loan (i) may provide for
accrual of interest thereon at an
interest rate (a "Mortgage Rate") that
is fixed over its term or that adjusts
from time to time, or that may be
converted at the borrower's election
from an adjustable to a fixed Mortgage
Rate, or from a fixed to an adjustable
Mortgage Rate, (ii) may provide for
level payments to maturity or for
payments that adjust from time to time
to accommodate changes in the Mortgage
Rate or to reflect the occurrence of
certain events, and may permit negative
amortization, (iii) may be fully
amortizing over its term to maturity, or
may provide for little or no
amortization over its term and thus
require a balloon payment on its stated
maturity date, (iv) may contain a
prohibition on prepayment or require
payment of a premium or a yield
maintenance penalty in connection with a
prepayment and (v) may provide for
payments of principal, interest or both,
on due dates that occur monthly,
quarterly, semi-annually or at such
other interval as is specified in the
related Prospectus Supplement. Unless
otherwise provided in the related
Prospectus Supplement, each Mortgage
Loan will have had an original term to
maturity of not more than 40 years, and
will have been originated by a person
other than the Depositor. See
"Description of the Trust
Funds--Mortgage Loans."
If and to the extent specified in the
related Prospectus Supplement, the
Mortgage Assets that constitute a
particular Trust Fund may also include
or consist solely of (i) private
mortgage participations, mortgage
pass-through certificates or other
mortgage-backed securities, such as
mortgage-backed securities that are
similar to a series of Certificates or
(ii) certificates insured or guaranteed
by the Federal Home Loan Mortgage
Corporation ("FHLMC"), the Federal
National Mortgage Association ("FNMA")
or the Governmental National Mortgage
Association ("GNMA") or the Federal
Agricultural Mortgage Corporation
("FAMC") (collectively, the
mortgage-backed securities referred to
in clauses (i) and (ii), "MBS"),
provided that each MBS will evidence an
interest in, or will be secured by a
pledge of, one or more mortgage loans
that conform to the descriptions of the
Mortgage Loans contained herein. See
"Description of the Trust Funds--MBS."
Each Mortgage Asset will be selected by
the Depositor for inclusion in a Trust
Fund from among those purchased, either
directly or indirectly, from a prior
holder thereof (a "Mortgage Asset
Seller"), which prior holder may or may
not be the originator of such Mortgage
Loan or the issuer of such MBS and may
be an affiliate of the Depositor.
B. Certificate Account ........ Each Trust Fund will include one or more
accounts (collectively, the "Certificate
Account") established and maintained on
behalf of the Certificateholders into
which the person or persons designated
in the related Prospectus Supplement
will, to the extent described herein and
in such Prospectus Supplement, deposit
all payments and collections received or
advanced with respect to the Mortgage
Assets and other assets in the Trust
Fund. A Certificate Account may be
maintained as an interest bearing or a
non-interest bearing account, and funds
held therein may be held as cash or
invested in certain short-term,
investment grade obligations, in each
case as described in the related
Prospectus Supplement. See "Description
of the Trust Funds--Certificate
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9
<PAGE>
- --------------------------------------------------------------------------------
Accounts" and "Description of the
Pooling Agreements--Certificate
Account."
C. Credit Support ............. If so provided in the related Prospectus
Supplement, partial or full protection
against certain defaults and losses on
the Mortgage Assets in the related Trust
Fund may be provided to one or more
classes of Certificates of the related
series in the form of subordination of
one or more other classes of
Certificates of such series, which other
classes may include one or more classes
of Offered Certificates, or by one or
more other types of credit support, such
as a letter of credit, insurance policy,
guarantee or reserve fund, or a
combination thereof (any such coverage
with respect to the Certificates of any
series, "Credit Support"). The amount
and types of any Credit Support, the
identification of the entity providing
it (if applicable) and related
information will be set forth in the
related Prospectus Supplement. See "Risk
Factors--Credit Support Limitations,"
"Description of the Trust Funds--Credit
Support" and "Description of Credit
Support."
D. Cash Flow Agreements ....... If so provided in the related Prospectus
Supplement, a Trust Fund may include
guaranteed investment contracts pursuant
to which moneys held in the funds and
accounts established for the related
series will be invested at a specified
rate. The Trust Fund may also include
interest rate exchange agreements,
interest rate cap or floor agreements,
currency exchange agreements or similar
agreements designed to reduce the
effects of interest rate or currency
exchange rate fluctuations on the
Mortgage Assets or on one or more
classes of Certificates. The principal
terms of any such guaranteed investment
contract or other agreement (any such
agreement, a "Cash Flow Agreement"),
including, without limitation,
provisions relating to the timing,
manner and amount of payments thereunder
and provisions relating to the
termination thereof, will be described
in the Prospectus Supplement for the
related series. In addition, the related
Prospectus Supplement will contain
certain information that pertains to the
obligor under any such Cash Flow
Agreement. See "Description of the Trust
Funds--Cash Flow Agreements."
E. Pre-Funding ................ If so provided in the related Prospectus
Supplement, a Trust Fund may include
amounts on deposit in a separate account
(the "Pre-Funding Account") which
amounts will not exceed 25% of the pool
balance of the Trust Fund as of the
Cut-off Date. Amounts on deposit in the
Pre-Funding Account may be used by the
Trust Fund to acquire additional
Mortgage Assets, which additional
Mortgage Assets will be selected using
criteria that is substantially similar
to the criteria used to select the
Mortgage Assets included in the Trust
Fund on the Closing Date. The Trust Fund
may acquire such additional Mortgage
Assets for a period of time of not more
than 120 days after the Closing Date
(the "Pre-Funding Period") as specified
in the related Prospectus Supplement.
Amounts on deposit in the Pre-Funding
Account after the end of the Pre-Funding
Period, will be distributed to
Certificateholders or such other person
as set forth in the related Prospectus
Supplement. If so provided in the
related Prospectus Supplement, the Trust
Fund may include amounts on deposit in a
separate account (the "Capitalized
Interest Account"). Amounts on deposit
in the Capitalized Interest Account may
be used to supplement investment
earnings, if any, of amounts on deposit
in the Pre-Funding Account, supplement
interest collections of the Trust Fund,
or such other purpose as specified in
the related Prospectus Supplement. As
set forth in a related Prospectus
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10
<PAGE>
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Supplement, amounts on deposit in the
Capitalized Interest Account and
Pre-Funding Account will be held in cash
or invested in short-term investment
grade obligations. Any amounts on
deposit in the Capitalized Interest
Account will be released after the end
of the Pre-Funding Period as specified
in the related Prospectus Supplement.
See "Risk Factors--Effects of
Pre-Funding and Acquisition of
Additional Mortgage Assets."
Description of Certificates ........ Each series of Certificates will be
issued in one or more classes pursuant
to a pooling and servicing agreement or
other agreement specified in the related
Prospectus Supplement (in either case, a
"Pooling Agreement") and will represent
in the aggregate the entire beneficial
ownership interest in the related Trust
Fund.
Each series of Certificates will consist
of one or more classes of Certificates,
and such class or classes (including
classes of Offered Certificates) may (i)
be senior (collectively, "Senior
Certificates") or subordinate
(collectively, "Subordinate
Certificates") to one or more other
classes of Certificates in entitlement
to certain distributions on the
Certificates; (ii) be entitled to
distributions of principal, with
disproportionately small, nominal or no
distributions of interest (collectively,
"Stripped Principal Certificates");
(iii) be entitled to distributions of
interest, with disproportionately small,
nominal or no distributions of principal
(collectively, "Stripped Interest
Certificates"); (iv) provide for
distributions of principal and/or
interest that commence only after the
occurrence of certain events, such as
the retirement of one or more other
classes of Certificates of such series;
(v) provide for distributions of
principal to be made, from time to time
or for designated periods, at a rate
that is faster (and, in some cases,
substantially faster) or slower (and, in
some cases, substantially slower) than
the rate at which payments or other
collections of principal are received on
the Mortgage Assets in the related Trust
Fund; or (vi) provide for distributions
of principal to be made, subject to
available funds, based on a specified
principal payment schedule or other
methodology.
Each class of Certificates, other than
certain classes of Stripped Interest
Certificates and certain REMIC Residual
Certificates (as defined below), will
have a stated principal amount (a
"Certificate Balance"); and each class
of Certificates, other than certain
classes of Stripped Principal
Certificates and certain REMIC Residual
Certificates, will accrue interest on
its Certificate Balance or, in the case
of certain classes of Stripped Interest
Certificates, on a notional amount
("Notional Amount"), based on a fixed,
variable or adjustable interest rate (a
"Pass-Through Rate"). The related
Prospectus Supplement will specify the
Certificate Balance, Notional Amount and
Pass-Through Rate for each class of
Offered Certificates, as applicable, or,
in the case of a variable or adjustable
Pass-Through Rate, the method for
determining the Pass-Through Rate.
The Certificates will not be guaranteed
or insured by the Depositor or any of
its affiliates, by any governmental
agency or instrumentality or by any
other person, unless otherwise provided
in the related Prospectus Supplement.
See "Risk Factors--Limited Assets" and
"Description of the Certificates."
Distributions of Interest on the
Certificates ..................... Interest on each class of Offered
Certificates (other than certain classes
of Stripped Principal Certificates and
Stripped Interest Certificates and
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11
<PAGE>
- --------------------------------------------------------------------------------
certain REMIC Residual Certificates) of
each series will accrue at the
applicable Pass-Through Rate on the
Certificate Balance or, in the case of
certain classes of Stripped Interest
Certificates, the Notional Amount
thereof outstanding from time to time
and will be distributed to
Certificateholders as provided in the
related Prospectus Supplement (each of
the specified dates on which
distributions are to be made, a
"Distribution Date"). Distributions of
interest with respect to one or more
classes of Certificates (collectively,
"Accrual Certificates") may not commence
until the occurrence of certain events,
such as the retirement of one or more
other classes of Certificates, and
interest accrued with respect to a class
of Accrual Certificates prior to the
occurrence of such an event will either
be added to the Certificate Balance
thereof or otherwise deferred.
Distributions of interest with respect
to one or more classes of Certificates
may be reduced to the extent of certain
delinquencies, losses and other
contingencies described herein and in
the related Prospectus Supplement. See
"Risk Factors--Prepayments; Average Life
of Certificates; Yields," "Yield and
Maturity Considerations," and
"Description of the
Certificates--Distributions of Interest
on the Certificates."
Distributions of Certificate
Principal ........................ Each class of the Certificates of each
series (other than certain classes of
Stripped Interest Certificates and/or
REMIC Residual Certificates) will have a
Certificate Balance which, as of any
date, will represent the maximum amount
that the holders thereof are then
entitled to receive in respect of
principal from future cash flow on the
Mortgage Assets in the related Trust
Fund. Unless otherwise specified in the
related Prospectus Supplement, the
initial aggregate Certificate Balance of
all classes of a series of Certificates
will not exceed the outstanding
principal balance of the related
Mortgage Assets as of a specified date
(the "Cut-off Date"), after application
of scheduled payments due on or before
such date, whether or not received. As
and to the extent described in the
related Prospectus Supplement,
distributions of principal with respect
to each series of Certificates will be
made on each Distribution Date to the
holders of the class or classes of
Certificates of such series entitled
thereto until the Certificate Balances
of such Certificates have been reduced
to zero. Distributions of principal with
respect to one or more classes of
Certificates (i) may be made at a rate
that is faster (and, in some cases,
substantially faster) than the rate at
which payments or other collections of
principal are received on the Mortgage
Assets in the related Trust Fund; (ii)
may not commence until the occurrence of
certain events, such as the retirement
of one or more other classes of
Certificates of the same series, or may
be made at a rate that is slower (and,
in some cases, substantially slower)
than the rate at which payments or other
collections of principal are received on
the Mortgage Assets in the related Trust
Fund; (iii) may be made, subject to
available funds, based on a specified
principal payment schedule (any such
class, a "Controlled Amortization
Class"); and (iv) may be contingent on
the specified principal payment schedule
for a Controlled Amortization Class of
the same series and the rate at which
payments and other collections of
principal on the Mortgage Assets in the
related Trust Fund are received (any
such class, a "Companion Class"). Unless
otherwise specified in the related
Prospectus Supplement, dis-
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12
<PAGE>
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tributions of principal of any class of
Certificates will be made on a pro rata
basis among all of the Certificates of
such class. See "Description of the
Certificates--Distributions of
Certificate Principal."
Advances ........................... If and to the extent provided in the
related Prospectus Supplement, the
Master Servicer and/or other specified
person will be obligated to make, or
have the option of making, certain
advances with respect to delinquent
scheduled payments of principal and/or
interest on the Mortgage Loans in the
related Trust Fund. Any such advances
made with respect to a particular
Mortgage Loan will be reimbursable from
subsequent recoveries in respect of such
Mortgage Loan and otherwise to the
extent described herein and in the
related Prospectus Supplement. If and to
the extent provided in the Prospectus
Supplement for a series of Certificates,
the Master Servicer or other specified
person will be entitled to receive
interest on its advances for the period
that they are outstanding, payable from
amounts in the related Trust Fund. See
"Description of the
Certificates--Advances in Respect of
Delinquencies." If a Trust Fund includes
MBS, any comparable advancing obligation
of a party to the related Pooling
Agreement, or of a party to the related
MBS Agreement, will be described in the
related Prospectus Supplement.
Termination ........................ If so specified in the related Prospectus
Supplement, a series of Certificates may
be subject to optional early termination
by means of the repurchase of the
Mortgage Assets in the related Trust
Fund by the party or parties specified
therein, under the circumstances and in
the manner set forth therein. If so
provided in the related Prospectus
Supplement, upon the reduction of the
Certificate Balance of a specified class
or classes of Certificates by a
specified percentage or amount, a party
specified therein may be authorized or
required to solicit bids for the
purchase of all of the Mortgage Assets
of the Trust Fund, or of a sufficient
portion of such Mortgage Assets to
retire such class or classes, under the
circumstances and in the manner set
forth therein. See "Description of the
Certificates--Termination."
Registration of Book-Entry
Certificates .................... If so provided in the related Prospectus
Supplement, one or more classes of the
Offered Certificates of any series will
be offered in book-entry format
(collectively, "Book-Entry
Certificates") through the facilities of
The Depository Trust Company ("DTC").
Each class of Book-Entry Certificates
will be initially represented by one or
more Certificates registered in the name
of a nominee of DTC. No person acquiring
an interest in a class of Book-Entry
Certificates (a "Certificate Owner")
will be entitled to receive a
Certificate of such class in fully
registered, definitive form (a
"Definitive Certificate"), except under
the limited circumstances described
herein. See "Risk Factors--Book-Entry
Registration" and "Description of the
Certificates--Book-Entry Registration
and Definitive Certificates."
Risk Factors ....................... There are material risks associated with
an investment in Certificates. See "Risk
Factors" herein. Additional risks
pertaining to a particular series of
Certificates may be disclosed in the
applicable Prospectus Supplement.
Tax Status of the Certificates ..... The Certificates of each series will
constitute either (i)"regular interests"
("REMIC Regular Certificates") and
"residual interests" ("REMIC Residual
Certificates") in a Trust Fund, or a
designated portion
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13
<PAGE>
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thereof, treated as a REMIC under
Sections 860A through 860G of the
Internal Revenue Code of 1986 (the
"Code"), or (ii) interests ("Grantor
Trust Certificates") in a Trust Fund
treated as a grantor trust under
applicable provisions of the Code. If so
indicated in the related Prospectus
Supplement, an election alternatively
may be made to treat the Trust Fund as a
financial asset securitization
investment trust ("FASIT").
A. REMIC ...................... REMIC Regular Certificates generally will
be treated as debt obligations of the
applicable REMIC for federal income tax
purposes. In general, to the extent the
assets and income of the REMIC are
treated as qualifying assets and income
under the following sections of the
Code, REMIC Regular Certificates owned
by a real estate investment trust will
be treated as "real estate assets" for
purposes of Section 856(c)(5)(A) of the
Code and interest income therefrom will
be treated as "interest on obligations
secured by mortgages on real property"
for purposes of Section 856(c)(3)(B) of
the Code. In addition, REMIC Regular
Certificates will be "qualified
mortgages" within the meaning of Section
860G(a)(3) of the Code. Moreover, if 95%
or more of the assets and the income of
the REMIC qualify for any of the
foregoing treatments, the REMIC Regular
Certificates will qualify for the
foregoing treatments in their entirety.
However, REMIC Regular Certificates
owned by a thrift institution will
constitute assets described in Section
7701(a)(19)(C) of the Code only if so
specified in the related Prospectus
Supplement. Holders of REMIC Regular
Certificates must report income with
respect thereto on the accrual method,
regardless of their method of tax
accounting generally. Holders of any
class of REMIC Regular Certificates
issued with original issue discount
generally will be required to include
the original issue discount in income as
it accrues, which will be determined
using an initial prepayment assumption
and taking into account, from time to
time, actual prepayments occurring at a
rate different than the prepayment
assumption. See "Material Federal Income
Tax Consequences--REMICs--Taxation of
Owners of REMIC Regular Certificates."
REMIC Residual Certificates generally
will be treated as representing an
interest in qualifying assets and income
to the same extent described above for
institutions subject to Sections
856(c)(5)(A) and 856(c)(3)(B) of the
Code, but not for purposes of Section
7701(a)(19)(C) of the Code unless
otherwise stated in the related
Prospectus Supplement. A portion (or, in
certain cases, all) of the income from
REMIC Residual Certificates (i) may not
be offset by any losses from other
activities of the holder of such REMIC
Residual Certificates, (ii) may be
treated as unrelated business taxable
income for holders of REMIC Residual
Certificates that are subject to tax on
unrelated business taxable income (as
defined in Section 511 of the Code), and
(iii) may be subject to foreign
withholding rules. See "Material Federal
Income Tax
Consequences--REMICs--Taxation of Owners
of REMIC Residual Certificates."
B. Grantor Trust .............. If so provided in the related Prospectus
Supplement, Grantor Trust Certificates
may be either Certificates that have a
Certificate Balance and a Pass-Through
Rate or that are Stripped Principal
Certificates (collectively, "Grantor
Trust Fractional Interest
Certificates"), or may be Stripped
Interest Certificates.
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14
<PAGE>
- --------------------------------------------------------------------------------
Owners of Grantor Trust Fractional
Interest Certificates will be treated
for federal income tax purposes as
owners of an undivided pro rata interest
in the assets of the related Trust Fund,
and generally will be required to report
their pro rata share of the entire gross
income (including amounts incurred as
servicing or other fees and expenses)
from the Mortgage Assets and will be
entitled, subject to certain
limitations, to deduct their pro rata
shares of any servicing or other fees
and expenses incurred during the year.
Holders of Grantor Trust Fractional
Interest Certificates generally will be
treated as owning an interest in
qualifying assets and income under
Sections 856(c)(5)(A), 856(c)(3)(B) and
860G(a)(3) of the Code, but will not be
so treated for purposes of Section
7701(a)(19)(C) of the Code unless
otherwise stated in the related
Prospectus Supplement.
It is unclear whether Stripped Interest
Certificates will be treated as
representing an ownership interest in
qualifying assets and income under
Sections 856(c)(5)(A) and 856(c)(3)(B)
of the Code, although the policy
considerations underlying those Sections
suggest that such treatment should be
available. However, such Certificates
will not be treated as representing an
ownership interest in assets described
in Section 7701(a)(19)(C) of the Code
unless otherwise stated in the related
Prospectus Supplement. The taxation of
holders of Stripped Interest
Certificates is uncertain in various
respects, including in particular the
method such holders should use to
recover their purchase price and to
report their income with respect to such
Stripped Interest Certificates. See
"Material Federal Income Tax
Consequences--Grantor TrustFunds."
Investors are advised to consult their
tax advisors and to review "Material
Federal Income Tax Consequences" herein
and in the related Prospectus
Supplement.
ERISA Considerations ............... Fiduciaries of employee benefit plans and
certain other retirement plans and
arrangements, including individual
retirement accounts, annuities, Keogh
plans, and collective investment funds
and separate accounts in which such
plans, accounts, annuities or
arrangements are invested, that are
subject to the Employee Retirement
Income Security Act of 1974, as amended
("ERISA"), or Section 4975 of the Code,
should carefully review with their legal
advisors whether the purchase or holding
of Offered Certificates could give rise
to a transaction that is prohibited or
is not otherwise permissible either
under ERISA or Section 4975 of the Code.
See "ERISA Considerations" herein and in
the related Prospectus Supplement.
Legal Investment ................... The Offered Certificates of any series
will constitute "mortgage related
securities" for purposes of the
Secondary Mortgage Market Enhancement
Act of 1984 only if so specified in the
related Prospectus Supplement. Investors
whose investment authority is subject to
legal restrictions should consult their
own legal advisors to determine whether
and to what extent the Offered
Certificates constitute legal
investments for them. See "Legal
Investment" herein and in the related
Prospectus Supplement.
Rating ............................. At their respective dates of issuance,
each class of Offered Certificates will
be rated not lower than investment grade
by one or more nationally recognized
statistical rating agencies (each, a
"Rating Agency"). See "Rating" herein
and in the related Prospectus
Supplement.
- --------------------------------------------------------------------------------
15
<PAGE>
RISK FACTORS
In considering an investment in the Offered Certificates of any series,
investors should consider, among other things, the following factors and any
other factors set forth under the heading "Risk Factors" in the related
Prospectus Supplement. Additional risk factors are set forth elsewhere in the
Prospectus under separate headings, and will be set forth in the related
Prospectus Supplement under separate headings, in connection with discussions
regarding particular aspects of Trust Fund Assets or the Certificates. In
general, to the extent that the factors discussed below pertain to or are
influenced by the characteristics or behavior of Mortgage Loans included in a
particular Trust Fund, they would similarly pertain to and be influenced by the
characteristics or behavior of the mortgage loans underlying any MBS included in
such Trust Fund.
LIMITED LIQUIDITY FOR OFFERED CERTIFICATES
Merrill Lynch, Pierce, Fenner & Smith Incorporated, itself or through one
or more of its affiliates, currently expects to make a secondary market in the
Offered Certificates of each series, but has no obligation to do so. However,
there can be no assurance that a secondary market for the Offered Certificates
of any series will develop or, if it does develop, that it will provide holders
with liquidity of investment or will continue for as long as such Certificates
remain outstanding. Furthermore, because, among other things, the timing of
receipt of payments with respect to a pool of multifamily or commercial mortgage
loans may be substantially more difficult to predict than that of a pool of
single family mortgage loans, any such secondary market that does develop may
provide less liquidity to investors than any comparable market for securities
that evidence interests in single-family mortgage loans.
The primary source of continuing information regarding the Offered
Certificates of any series, including information regarding the status of the
related Mortgage Assets and any Credit Support for such Certificates, will be
the periodic reports to Certificateholders delivered pursuant to the related
Pooling Agreement as described herein under the heading "Description of the
Certificates--Reports to Certificateholders." There can be no assurance that any
additional continuing information regarding the Offered Certificates of any
series will be available through any other source, and the limited nature of
such information may adversely affect the liquidity thereof, even if a secondary
market for such Certificates does develop.
Except to the extent described herein and in the related Prospectus
Supplement, Certificateholders will have no redemption rights, and the Offered
Certificates of each series are subject to early retirement only under certain
specified circumstances described herein and in the related Prospectus
Supplement. See "Description of the Certificates--Termination."
LIMITED ASSETS TO SUPPORT PAYMENT ON CERTIFICATES
Unless otherwise specified in the related Prospectus Supplement, neither
the Offered Certificates of any series nor the Mortgage Assets in the related
Trust Fund will be guaranteed or insured by the Depositor or any of its
affiliates, by any governmental agency or instrumentality or by any other
person; and no Offered Certificate of any series will represent a claim against
or security interest in the Trust Funds for any other series. Accordingly, if
the related Trust Fund has insufficient assets to make payments on such
Certificates, no other assets will be available for payment of the deficiency.
See "Description of the Trust Funds." Additionally, certain amounts on deposit
from time to time remaining in certain funds or accounts constituting part of a
Trust Fund, including the Certificate Account and any accounts maintained as
Credit Support, may be withdrawn under certain conditions that will be described
in the related Prospectus Supplement, for purposes other than the payment of
principal of or interest on the related series of Certificates. If so provided
in the Prospectus Supplement for a series of Certificates consisting of one or
more classes of Subordinate Certificates, on any Distribution Date in respect of
which losses or shortfalls in collections on the Mortgage Assets have been
incurred, the amount of such losses or shortfalls will be borne first by one or
more classes of the Subordinate Certificates, and, thereafter, by the remaining
classes of Certificates in the priority and manner and subject to the
limitations specified in such Prospectus Supplement.
PREPAYMENTS ON MORTGAGE LOANS; EFFECTS ON AVERAGE LIFE OF CERTIFICATES; EFFECTS
ON YIELDS ON CERTIFICATES
For a number of reasons, including the difficulty of predicting the rate of
prepayments on the Mortgage Loans in a particular Trust Fund, the amount and
timing of distributions of principal and/or interest on the Offered Certificates
of the related series may be highly unpredictable. Prepayments on the Mortgage
Loans in any Trust Fund will result in a faster rate of principal payments on
one or more classes of the related Certificates than if payments on such
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<PAGE>
Mortgage Loans were made as scheduled. Thus, the prepayment experience on the
Mortgage Loans may affect the average life of each class of such Certificates,
including a class of Offered Certificates. The rate of principal payments on
pools of mortgage loans varies among pools and from time to time is influenced
by a variety of economic, demographic, geographic, social, tax, legal and other
factors. For example, if prevailing interest rates fall significantly below the
Mortgage Rates borne by the Mortgage Loans included in a Trust Fund, principal
prepayments are likely to be higher than if prevailing rates remain at or above
the rates borne by those Mortgage Loans. Conversely, if prevailing interest
rates rise significantly above the Mortgage Rates borne by the Mortgage Loans
included in a Trust Fund, principal prepayments thereon are likely to be lower
than if prevailing interest rates remain at or below the rates borne by those
Mortgage Loans. There can be no assurance as to the rate of prepayments on the
Mortgage Loans in any Trust Fund or that such rate will conform to any model
described herein or in any Prospectus Supplement. As a result, depending on the
anticipated rate of prepayment for the Mortgage Loans in any Trust Fund, the
retirement of any class of Certificates of the related series could occur
significantly earlier or later thanexpected.
The extent to which prepayments on the Mortgage Loans in any Trust Fund
ultimately affect the average life of any class of Certificates of the related
series will depend on the terms of such Certificates. A class of Certificates,
including a class of Offered Certificates, may provide that on any Distribution
Date the holders of such Certificates are entitled to (i) a pro rata share of
the prepayments (including prepayments occasioned by defaults) on the Mortgage
Loans in the related Trust Fund that are distributable on such date, (ii) a
disproportionately large share (which, in some cases, may be all) of such
prepayments, or (iii) a disproportionately small share (which, in some cases,
may be none) of such prepayments. A class of Certificates that entitles the
holders thereof to a disproportionately large share of prepayments enhances the
risk of early retirement of such class ("call risk") if the rate of prepayment
is faster than anticipated. A class of Certificates that entitles the holders
thereof to a disproportionately small share of prepayments enhances the risk of
an extended average life of such class ("extension risk") if the rate of
prepayment is slower than anticipated. As and to the extent described in the
related Prospectus Supplement, the respective entitlements of the various
classes of Certificateholders of any series to receive payments (and, in
particular, prepayments) of principal of the Mortgage Loans in the related Trust
Fund may vary based on the occurrence of certain events (e.g., the retirement of
one or more classes of Certificates of such series) or subject to certain
contingencies (e.g., prepayment and default rates with respect to such Mortgage
Loans).
A series of Certificates may include one or more Controlled Amortization
Classes that will be entitled to receive principal distributions according to a
specified principal payment schedule. Although prepayment risk cannot be
eliminated entirely for any class of Certificates, it can be reduced
substantially in the case of a Controlled Amortization Class so long as the
actual rate of prepayments on the Mortgage Loans in the related Trust Fund
remains relatively constant at the rate, or within the range of rates, of
prepayment used to establish the specific principal payment schedule for such
Certificates. However, the reduction of prepayment risk afforded to a Controlled
Amortization Class comes at the expense of one or more Companion Classes of the
same series, any of which Companion Classes may also be a class of Offered
Certificates. In general, and as more specifically described in the related
Prospectus Supplement, a Companion Class will entitle the holders thereof to a
disproportionately large share of prepayments on the Mortgage Loans in the
related Trust Fund when the rate of prepayment is relatively fast and to a
disproportionately small share of those prepayments when the rate of prepayment
is relatively slow. A Companion Class thus absorbs some (but not all) of the
"call risk" and/or "extension risk" that would otherwise affect the related
Controlled Amortization Class if all payments of principal of the Mortgage Loans
were allocated on a pro rata basis.
A series of Certificates may also include one or more classes of Offered
Certificates offered at a premium or discount. Yields on such classes of
Certificates will be sensitive, and in some cases extremely sensitive, to
prepayments on the Mortgage Loans in the related Trust Fund. Where the amount of
interest payable with respect to a class is disproportionately large, as
compared to the amount of principal, as with certain classes of Stripped
Interest Certificates, a holder might fail to recoup its original investment
under some prepayment scenarios. An investor should consider, in the case of any
Offered Certificate purchased at a discount, the risk that a slower than
anticipated rate of principal payments on the Mortgage Loans could result in an
actual yield to such investor that is lower than the anticipated yield and, in
the case of any Offered Certificate purchased at a premium, the riskthat a
faster than anticipated rate of principal payments could result in an actual
yield to such investor that is lowerthan the anticipated yield. See "Yield and
Maturity Considerations" herein and, if applicable, in the related Prospectus
Supplement.
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<PAGE>
OPTIONAL EARLY TERMINATION
If so specified in the related Prospectus Supplement, a series of
Certificates may be subject to optional early termination by means of the
repurchase of the Mortgage Assets in the related Trust Fund by the party or
parties specified therein, under the circumstances and in the manner set forth
therein. If so provided in the related Prospectus Supplement, upon the reduction
of the Certificate Balance of a specified class or classes of Certificates by a
specified percentage or amount, a party specified therein may be authorized or
required to solicit bids for the purchase of all of the Mortgage Assets of the
Trust Fund, or of a sufficient portion of such Mortgage Assets to retire such
class or classes, under the circumstances and in the manner set forth therein.
In the event of a partial or complete termination of a Trust Fund, there can be
no assurance that the proceeds from a sale of the Mortgage Assets will be
sufficient to distribute the outstanding Certificate Balance plus accrued
interest and any undistributed shortfalls in interest accrued on the
Certificates subject to the termination. Accordingly the holders of such
Certificates may incur a loss. See "Description of the Certificates
- --Termination." In the event that partial or complete early termination of a
series of Certificates is authorized and does occur in this manner, the holders
of the series of Certificates or one or more classes of a series of Certificates
that are terminated early may experience repayment of their investment outside
their control at an unpredictable and inopportune time. Moreover, such early
termination could have an adverse impact on the overall yield received by such
holder, depending upon the amount of the series of Certificates or class or
classes of such series that is outstanding at the time of early termination,
among other factors.
LIMITED NATURE OF RATINGS ON CERTIFICATES
Any rating assigned by a Rating Agency to a class of Offered Certificates
will reflect only its assessment of the likelihood that holders of Certificates
of such class will receive payments to which such Certificateholders are
entitled under the related Pooling Agreement. Such rating will not constitute an
assessment of the likelihood that principal prepayments on the related Mortgage
Loans will be made, the degree to which the rate of such prepayments might
differ from that originally anticipated or the likelihood of early optional
termination of the related Trust Fund. Neither will such rating address the
possibility that prepayments on the related Mortgage Loans at a higher or lower
rate than anticipated by an investor may cause such investor to experience a
lower than anticipated yield or that an investor that purchases an Offered
Certificate at a significant premium might fail to recoup its initial investment
under certain prepayment scenarios.
The amount, type and nature of Credit Support, if any, provided with
respect to a series of Certificates will be determined on the basis of criteria
established by each Rating Agency rating classes of the Certificates of such
series. Those criteria are sometimes based upon an actuarial analysis of the
behavior of mortgage loans in a larger group. However, there can be no assurance
that the historical data supporting any such actuarial analysis will accurately
reflect future experience, or that the data derived from a large pool of
mortgage loans will accurately predict the delinquency, foreclosure or loss
experience of any particular pool of Mortgage Loans. In other cases, such
criteria may be based upon determinations of the values of the Mortgaged
Properties that provide security for the Mortgage Loans. However, no assurance
can be given that those values will not decline in the future. See "Description
of Credit Support" and "Rating."
EFFECTS OF PRE-FUNDING AND ACQUISITION OF ADDITIONAL MORTGAGE ASSETS
Any amounts on deposit in a Pre-Funding Account as described in the
Prospectus Supplement for a series of Certificates that is not used to acquire
additional Mortgage Assets by the end of the Pre-Funding Period, may be
distributed to holders of Certificates as a prepayment of principal as set forth
in the related Prospectus Supplement. Such a prepayment of principal to the
holders of Certificates may materially and adversely effect the yield on the
Certificates. See "Yield and Maturity Considerations" herein and, if applicable,
in the related Prospectus Supplement.
Any additional Mortgage Assets acquired by a Trust Fund during the
Pre-Funding Period, as described in the related Prospectus Supplement, may
possess substantially different characteristics than the Mortgage Assets in the
Trust Fund on the Closing Date. Therefore the aggregate characteristics of a
Trust Fund following the Pre-Funding Period may be substantially different than
the characteristics of a Trust Fund on the Closing Date.
RISKS TO LENDERS ASSOCIATED WITH CERTAIN MORTGAGE LOANS AND INCOME PRODUCING
PROPERTIES
Mortgage loans made on the security of multifamily or commercial property
may entail risks of delinquency and foreclosure, and risks of loss in the event
thereof, that are greater than similar risks associated with loans made on the
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<PAGE>
security of single-family property. See "Description of the Trust
Funds--Mortgage Loans." The ability of a borrower to repay a loan secured by an
income-producing property typically is dependent primarily upon the successful
operation of such property rather than upon the existence of independent income
or assets of the borrower; thus, the value of an income-producing property is
directly related to the net operating income derived from such property. If the
net operating income of the property is reduced (for example, if rental or
occupancy rates decline or real estate tax rates or other operating expenses
increase), the borrower's ability to repay the loan may be impaired. A number of
the Mortgage Loans may be secured by liens on owner-occupied Mortgaged
Properties or on Mortgaged Properties leased to a single tenant. Accordingly, a
decline in the financial condition of the borrower or single tenant, as
applicable, may have a disproportionately greater effect on the net operating
income from such Mortgaged Properties than would be the case with respect to
Mortgaged Properties with multiple tenants. Furthermore, the value of any
Mortgaged Property may be adversely affected by risks generally incident to
interests in real property, including changes in general or local economic
conditions and/or specific industry segments; declines in real estate values;
declines in rental or occupancy rates; increases in interest rates, real estate
tax rates and other operating expenses; changes in governmental rules,
regulations and fiscal policies, including environmental legislation; acts of
God; and other factors beyond the control of a Master Servicer.
It is anticipated that some or all of the Mortgage Loans included in any
Trust Fund will be nonrecourse loans or loans for which recourse may be
restricted or unenforceable. As to those Mortgage Loans, recourse in the event
of borrower default will be limited to the specific real property and other
assets, if any, that were pledged to secure the Mortgage Loan. However, even
with respect to those Mortgage Loans that provide for recourse against the
borrower and its assets generally, there can be no assurance that enforcement of
such recourse provisions will be practicable, or that the assets of the borrower
will be sufficient to permit a recovery in respect of a defaulted Mortgage Loan
in excess of the liquidation value of the related Mortgaged Property.
Further, the concentration of default, foreclosure and loss risks in
individual Mortgage Loans in a particular Trust Fund will generally be greater
than for pools of single-family loans because Mortgage Loans in a Trust Fund
will generally consist of a smaller number of higher balance loans than would a
pool of single-family loans of comparable aggregate unpaid principal balance.
Risks Associated with Mortgage Loans Secured by Retail Properties. Mortgage
Loans secured by retail properties may constitute a material consentration of
the Mortgage Loans in a Trust Fund. Significant factors determining the value of
retail properties are the quality of the tenants as well as fundamental aspects
of real estate such as location and market demographics. The correlation between
the success of tenant businesses and property value is more direct with respect
to retail properties than other types of commercial property because a
significant component of the total rent paid by retail tenants is often tied to
a percentage of gross sales. Significant tenants at a retail property play an
important part in generating customer traffic and making a retail property a
desirable location for other tenants at such property. Accordingly, retail
properties may be adversely affected if a significant tenant ceases operations
at such locations (which may occur on account of a voluntary decision not to
renew a lease, bankruptcy or insolvency of such tenant, such tenant's general
cessation of business activities or for other reasons). In addition, certain
tenants at retail properties may be entitled to terminate their leases or pay
reduced rent if an anchor tenant ceases operations at such property. In such
cases, there can be no assurance that any such anchor tenants will continue to
occupy space in the related shopping centers.
Shopping centers, in general, are affected by the health of the retail
industry, which is currently undergoing a consolidation and is experiencing
changes due to the growing market share of "off-price" retailing, and a
particular shopping center may be adversely affected by the bankruptcy or
decline in drawing power of an anchor tenant, the risk that an anchor tenant may
vacate notwithstanding such tenant's continuing obligation to pay rent, a shift
in consumer demand due to demographic changes (for example, population decreases
or changes in average age or income) and/or changes in consumer preference (for
example, to discount retailers).
Unlike other income producing properties, retail properties also face
competition from sources outside a given real estate market. Catalogue
retailers, home shopping networks, the Internet, telemarketing and outlet
centers all compete with more traditional retail properties for consumer
dollars. Continued growth of these alternative retail outlets (which are often
characterized by lower operating costs) could adversely affect the rents
collectible at the retail properties which secure Mortgage Loans in a Trust
Fund.
Risks Associated with Mortgage Loans Secured by Office Buildings. Mortgage
Loans secured by office buildings may constitute a material consentration of the
Mortgage Loans in a Trust Fund. Significant factors
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<PAGE>
determining the value of office properties are the quality of the tenants in the
building, the physical attributes of the building in relation to competing
buildings and the strength and stability of the market area as a desirable
business location. Office properties may be adversely affected by an economic
decline in the business operated by the tenants. The risk of such an adverse
effect is increased if revenue is dependent on a single tenant or if there is a
significant concentration of tenants in a particular business or industry.
Office properties are also subject to competition with other office
properties in the same market. Competition is affected by a property's age,
condition, design (e.g., floor sizes and layout), access to transportation and
ability or inability to offer certain amenities to its tenants, including
sophisticated building systems (such as fiberoptic cables, satellite
communications or other base building technological features).
The success of an office property also depends on the local economy. A
company's decision to locate office headquarters in a given area, for example,
may be affected by such factors as labor cost and quality, tax environment and
quality of life issues such as schools and cultural amenities. A central
business district may have an economy which is markedly different from that of a
suburb. The local economy and the financial condition of the owner will impact
on an office property's ability to attract stable tenants on a consistent basis.
In addition, the cost of refitting office space for a new tenant is often more
costly than for other property types.
Risks Associated with Mortgage Loans Secured by Residential Healthcare
Facilities. Mortgage Loans secured by residential healthcare facilities may
constitute a material consentration of the Mortgage Loans in a Trust Fund.
Mortgage Loans secured by liens on residential health care facilities pose
additional risks not associated with loans secured by liens on other types of
income-producing properties. Providers of long-term nursing care, assisted
living and other medical services are subject to federal and state laws that
relate to the adequacy of medical care, distribution of pharmaceuticals, rate
setting, equipment, personnel, operating policies and additions to facilities
and services and, to the extent dependent on patients whose fees are reimbursed
by private insurers, to the reimbursement policies of such insurers. The failure
of any of such borrowers to maintain or renew any required license or regulatory
approval could prevent it from continuing operations at a Mortgaged Property (in
which case no revenues would be received from such property or portion thereof
requiring licensing) or, if applicable, bar it from participation in government
reimbursement programs. Furthermore, in the event of foreclosure, there can be
no assurance that the Trustee or any other purchaser at a foreclosure sale would
be entitled to the rights under such licenses and such party may have to apply
in its own right for such a license. There can be no assurance that a new
license could be obtained or that the related Mortgaged Property would be
adaptable to other uses. To the extent any nursing home receives a significant
portion of its revenues from government reimbursement programs, primarily
Medicaid and Medicare, such revenue may be subject to statutory and regulatory
changes, retroactive rate adjustments, administrative rulings, policy
interpretations, delays by fiscal intermediaries and government funding
restrictions. Moreover, governmental payors have employed cost-containment
measures that limit payments to health care providers, and there are currently
under consideration various proposals in the United States Congress that could
materially change or curtail those payments. Accordingly, there can be no
assurance that payments under government reimbursement programs will, in the
future, be sufficient to fully reimburse the cost of caring for program
beneficiaries. If not, net operating income of the Mortgaged Properties that
receive substantial revenues from those sources, and consequently the ability of
the related borrowers to meet their Mortgage Loan obligations, could be
adversely affected. Under applicable federal and state laws and regulations,
including those that govern Medicare and Medicaid programs, only the provider
who actually furnished the related medical goods and services may sue for or
enforce its rights to reimbursement. Accordingly, in the event of foreclosure,
none of the Trustee, the Master Servicer, the Special Servicer or a subsequent
lessee or operator of the property would generally be entitled to obtain from
federal or state governments any outstanding reimbursement payments relating to
services furnished at the respective properties prior to such foreclosure.
Risks Associated with Mortgage Loans Secured by Health Care-Related
Properties. The Mortgaged Properties may include Senior Housing, Assisted Living
Facilities, Skilled Nursing Facilities and Acute Care Facilities (any of the
foregoing, "Health Care-Related Facilities"). "Senior Housing" generally consist
of facilities with respect to which the residents are ambulatory, handle their
own affairs and typically are couples whose children have left the home and at
which the accommodations are usually apartment style. "Assisted Living
Facilities" are typically single or double room occupancy, dormitory-style
housing facilities which provide food service, cleaning and some personal care
and with respect to which the tenants are able to medicate themselves but may
require assistance with certain daily routines. "Skilled Nursing Facilities"
provide services to post trauma and frail residents
20
<PAGE>
with limited mobility who require extensive medical treatment. "Acute Care
Facilities" generally consist of hospital and other facilities providing
short-term, acute medical care services.
Certain types of Health Care-Related Properties, particularly Acute Care
Facilities, Skilled Nursing Facilities and some Assisted Living Facilities,
typically receive a substantial portion of their revenues from government
reimbursement programs, primarily Medicaid and Medicare. Medicaid and Medicare
are subject to statutory and regulatory changes, retroactive rate adjustments,
administrative rulings, policy interpretations, delays by fiscal intermediaries
and government funding restrictions. Moreover, governmental payors have employed
cost-containment measures that limit payments to health care providers, and
there exist various proposals for national health care reform that could further
limit those payments. Accordingly, there can be no assurance that payments under
government reimbursement programs will, in the future, be sufficient to fully
reimburse the cost of caring for program beneficiaries. If such payments are
insufficient, net operating income of those Health Care-Related Facilities that
receive revenues from those sources, and consequently the ability of the related
borrowers to meet their obligations under any Mortgage Loans secured thereby,
could be adversely affected.
Moreover, Health Care-Related Facilities are generally subject to federal
and state laws that relate to the adequacy of medical care, distribution of
pharmaceuticals, rate setting, equipment, personnel, operating policies and
additions to facilities and services. In addition, facilities where such care or
other medical services are provided are subject to periodic inspection by
governmental authorities to determine compliance with various standards
necessary to continued licensing under state law and continued participation in
the Medicaid and Medicare reimbursement programs. Providers of assisted living
services are also subject to state licensing requirements in certain states. The
failure of an operator to maintain or renew any required license or regulatory
approval could prevent it from continuing operations at a Health Care-Related
Facility or, if applicable, bar it from participation in government
reimbursement programs. Furthermore, under applicable federal and state laws and
regulations, Medicare and Medicaid reimbursements are generally not permitted to
be made to any person other than the provider who actually furnished the related
medical goods and services. Accordingly, in the event of foreclosure, none of
the Trustee, the Master Servicer, the Special Servicer or a subsequent lessee or
operator of any Health Care-Related Facility securing a defaulted Mortgage Loan
(a "Health Care-Related Mortgaged Property") would generally be entitled to
obtain from federal or state governments any outstanding reimbursement payments
relating to services furnished at such property prior to such foreclosure. Any
of the aforementioned events may adversely affect the ability of the related
borrowers to meet their Mortgage Loan obligations.
Government regulation applying specifically to Acute Care Facilities,
Skilled Nursing Facilities and certain types of Assisted Living Facilities
includes health planning legislation, enacted by most states, intended, at least
in part, to regulate the supply of nursing beds. The most common method of
control is the requirement that a state authority first make a determination of
need, evidenced by its issuance of a Certificate of Need ("CON"), before a
long-term care provider can establish a new facility, add beds to an existing
facility or, in some states, take certain other actions (for example, acquire
major medical equipment, make major capital expenditures, add services,
refinance long-term debt, or transfer ownership of a facility). States also
regulate nursing bed supply in other ways. For example, some states have imposed
moratoria on the licensing of new beds, or on the certification of new Medicaid
beds, or have discouraged the construction of new nursing facilities by limiting
Medicaid reimbursements allocable to the cost of new construction and equipment.
In general, a CON is site specific and operator specific; it cannot be
transferred from one site to another, or to another operator, without the
approval of the appropriate state agency. Accordingly, if a Mortgage Loan
secured by a lien on such a Health Care-Related Mortgaged Property were
foreclosed upon, the purchaser at foreclosure might be required to obtain a new
CON or an appropriate exemption. In addition, compliance by a purchaser with
applicable regulations may in any case require the engagement of a new operator
and the issuance of a new operating license. Upon a foreclosure, a state
regulatory agency may be willing to expedite any necessary review and approval
process to avoid interruption of care to a facility's residents, but there can
be no assurance that any will do so or that any necessary licenses or approvals
will be issued.
Further government regulation applicable to Health Care-Related Facilities
is found in the form of federal and state "fraud and abuse" laws that generally
prohibit payment or fee-splitting arrangements between health care providers
that are designed to induce or encourage the referral of patients to, or the
recommendation of, a particular provider for medical products or services.
Violation of these restrictions can result in license revocation, civil and
criminal penalties, and exclusion from participation in Medicare or Medicaid
programs. The state law restrictions in this area vary considerably from state
to state. Moreover, the federal anti-kickback law includes broad language that
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<PAGE>
potentially could be applied to a wide range of referral arrangements, and
regulations designed to create "safe harbors" under the law provide only limited
guidance. Accordingly, there can be no assurance that such laws will be
interpreted in a manner consistent with the practices of the owners or operators
of the Health Care-Related Mortgaged Properties that are subject to such laws.
The operators of Health Care-Related Facilities are likely to compete on a
loca1 and regional basis with others that operate similar facilities, some of
which competitors may be better capitalized, may offer services not offered by
such operators, or may be owned by non-profit organizations or government
agencies supported by endowments, charitable contributions, tax revenues and
other sources not available to such operators. The successful operation of a
Health Care-Related Facility will generally depend upon the number of competing
facilities in the local market, as well as upon other factors such as its age,
appearance, reputation and management, the types of services it provides and,
where applicable, the quality of care and the cost of that care. The inability
of a Health Care-Related Mortgaged Property to flourish in a competitive market
may increase the likelihood of foreclosure on the related Mortgage Loan,
possibly affecting the yield on one or more classes of the related series of
Offered Certificates.
Risks Associated with Mortgage Loans Secured by Warehouse and Storage
Facilities. Mortgage Loans secured by warehouse and self storage facilities may
constitute a material consentration of the Mortgage Loans in a Trust Fund. Self
storage facilities are part of a market that contains low barriers to entry.
Increased competition among self storage facilities may reduce income available
to repay Mortgage Loans secured by self storage facility. Furthermore, due to
the privacy considerations applicable to self storage facilities, may increase
environmental risks. See "Risk Factors--Environmental Law Considerations"
herein.
Risks Associated with Mortgage Loans Secured by Industrial & Mixed-Use
Facilities. Mortgage Loans secured by industrial and mixed-use facilities may
constitute a material consentration of the Mortgage Loans in a Trust Fund.
Significant factors determining the value of industrial properties are the
quality of tenants, building design and adaptability and the location of the
property. Concerns about the quality of tenants, particularly major tenants, are
similar in both office properties and industrial properties, although industrial
properties are more frequently dependent on a single tenant. In addition,
properties used for many industrial purposes are more prone to environmental
concerns than other property types.
Aspects of building site design and adaptability affect the value of an
industrial property. Site characteristics which are valuable to an industrial
property include clear heights, column spacing, zoning restrictions, number of
bays and bay depths, divisibility, truck turning radius and overall
functionality and accessibility. Location is also important because an
industrial property requires the availability of labor sources, proximity to
supply sources and customers and accessibility to rail lines, major roadways and
other distribution channels.
Industrial properties may be adversely affected by reduced demand for
industrial space occasioned by a decline in a particular industry segment (for
example, a decline in defense spending), and a particular industrial property
that suited the needs of its original tenant may be difficult to relet to
another tenant or may become functionally obsolete relative to newer
properties.]
MANAGEMENT RISKS
Each Mortgaged Property is managed by a property manager (which generally
is an affiliate of the borrower) or by the borrower itself. The successful
operation of a real estate project is largely dependent on the performance and
viability of the management of such project. The property manager is responsible
for responding to changes in the local market, planning and implementing the
rental structure, including establishing levels of rent payments and advising
the borrowers so that maintenance and capital improvements can be carried out in
a timely fashion. There is no assurance regarding the performance of any
operators, leasing agents and/or managers or persons who may become operators
and/or managers upon the expiration or termination of management agreements or
following any default or foreclosure under a Mortgage Loan. In addition,
generally the property managers are operating companies and unlike limited
purpose entities, may not be restricted from incurring debt and other
liabilities in the ordinary course of business or otherwise. There can be no
assurance that the property managers will at all times be in a financial
condition to continue to fulfill their management responsibilities under the
related management agreements throughout the terms thereof.
BALLOON PAYMENTS ON MORTGAGE LOANS; HEIGHTENED RISK OF BORROWER DEFAULT
Certain of the Mortgage Loans included in a Trust Fund may not be fully
amortizing (or may not amortize at all) over their terms to maturity and, thus,
will require substantial principal payments (that is, balloon payments) at their
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stated maturity. Mortgage Loans of this type involve a greater degree of risk
than self-amortizing loans because the ability of a borrower to make a balloon
payment typically will depend upon its ability either to fully refinance the
loan or to sell the related Mortgaged Property at a price sufficient to permit
the borrower to make the balloon payment. The ability of a borrower to
accomplish either of these goals will be affected by a number of factors,
including the value of the related Mortgaged Property, the level of available
mortgage rates at the time of sale or refinancing, the borrower's equity in the
related Mortgaged Property, the financial condition and operating history of the
borrower and therelated Mortgaged Property, tax laws, rent control laws (with
respect to certain residential properties), Medicaidand Medicare reimbursement
rates (with respect to hospitals and nursing homes), prevailing general economic
conditions and the availability of credit for loans secured by commercial or
multifamily, as the case may be, real properties generally.
If and to the extent specified in the related Prospectus Supplement, in
order to maximize recoveries on defaulted Mortgage Loans, the Master Servicer or
a Special Servicer will be permitted (within prescribed limits) to extend and
modify Mortgage Loans that are in default or as to which a payment default is
imminent. While a Master Servicer generally will be required to determine that
any such extension or modification is reasonably likely to produce a greater
recovery on a present value basis than liquidation, there can be no assurance
that any such extension or modification will in fact increase the present value
of receipts from or proceeds of the affected Mortgage Loans. See "Yield and
Maturity Considerations--Other Factors Affecting Yield, Weighted Average Life
and Maturity --Balloon Payments; Extensions of Maturity."
LEASES AND RENTS SERVING AS SECURITY FOR MORTGAGE LOANS POSE SPECIAL RISKS
The Mortgage Loans included in any Trust Fund typically will be secured by
an assignment of leases and rents pursuant to which the borrower assigns to the
lender its right, title and interest as landlord under the leases of the related
Mortgaged Property, and the income derived therefrom, as further security for
the related Mortgage Loan, while retaining a license to collect rents for so
long as there is no default. If the borrower defaults, the license terminates
and the lender is entitled to collect rents. Some state laws may require that
the lender take possession of the Mortgaged Property and obtain a judicial
appointment of a receiver before becoming entitled to collect the rents. In
addition, if bankruptcy or similar proceedings are commenced by or in respect of
the borrower, the lender's ability to collect the rents may be adversely
affected. See "Certain Legal Aspects of Mortgage Loans--Leases and Rents."
DELINQUENT MORTGAGE LOANS
If so provided in the related Prospectus Supplement, the Trust Fund for a
particular series of Certificates may include Mortgage Loans that are delinquent
as of the date they are deposited in the Trust Fund. A Mortgage Loan will be
considered "delinquent" if it is thirty (30) days or more past its most recently
contractual scheduled payment date in payment of all amounts due according to
its terms. In any event, at the time of its creation, the Trust Fund will not
include delinquent loans which by principal amount are more than 20% of the
aggregate principal amount of all Mortgage Loans in the Trust Fund. If so
specified in the related Prospectus Supplement, the servicing of such Mortgage
Loans will be performed by a Special Servicer. Credit Support provided with
respect to a particular series of Certificates may not cover all losses related
to such delinquent Mortgage Loans, and investors should consider the risk that
the inclusion of such Mortgage Loans in the Trust Fund may adversely affect the
rate of defaults and prepayments on the Mortgage Loans in theTrust Fund and the
yield on the Offered Certificates of such series. See "Description of the Trust
Funds--Mortgage Loans-General."
ENVIRONMENTAL LIABILITY MAY AFFECT LIEN ON MORTGAGED PROPERTY AND EXPOSE LENDER
TO COSTS
Under certain laws, contamination of real property may give rise to a lien
on the property to assure the costs of cleanup. In several states, such a lien
has priority over an existing mortgage lien on such property.In addition, under
the laws of some states and under the federal Comprehensive Environmental
Response, Compensation and Liability Act of 1980 ("CERCLA"), a lender may be
liable, as an "owner" or "operator," for costs of addressing releases or
threatened releases of hazardous substances at a property, if agents or
employees of the lender have become sufficiently involved in the operations of
the borrower, regardless of whether or not the environmental damage or threat
was caused by the borrower. A lender also risks such liability on foreclosure of
the mortgage. See "Certain Legal Aspects of Mortgage Loans--Environmental
Considerations." If a Trust Fund includes Mortgage Loans and the related
Prospectus Supplement does not otherwise specify, the related Pooling Agreement
will contain provisions generally to the effect that the Master Servicer, acting
on behalf of the Trust Fund,
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may not acquire title to a Mortgaged Property or assume control of its operation
unless the Master Servicer, based upon a report prepared by a person who
regularly conducts environmental site assessments, has made the determination
that it is appropriate to do so, as described under "Description of the Pooling
Agreements--Realization Upon Defaulted Mortgage Loans." These provisions are
designed to reduce substantially the risk of liability for costs associated with
remediation of of hazardous substances, but there can be no assurance in a given
case that those risks can be eliminated entirely.
CREDIT SUPPORT LIMITATIONS--MAY NOT COVER ALL RISKS OR FULL PAYMENT ON
CERTIFICATES
The Prospectus Supplement for the Offered Certificates of each series will
describe any Credit Support provided with respect thereto. Use of Credit Support
will be subject to the conditions and limitations described herein and in the
related Prospectus Supplement. Moreover, such Credit Support may not cover all
potential losses or risks; for example, Credit Support may or may not cover
fraud or negligence by a mortgage loan originator or other parties.
A series of Certificates may include one or more classes of Subordinate
Certificates (which may include Offered Certificates), if so provided in the
related Prospectus Supplement. Although subordination is intended to reduce the
risk to holders of Senior Certificates of delinquent distributions or ultimate
losses, the amount of subordination will be limited and may decline under
certain circumstances. In addition, if principal payments on one or more classes
of Certificates of a series are made in a specified order of priority, any
limits with respect to the aggregate amount of claims under any related Credit
Support may be exhausted before the principal of the lower priority classes of
Certificates of such series has been fully repaid. As a result, the impact of
losses and shortfalls experienced with respect to the Mortgage Assets may fall
primarily upon those classes of Certificates having a lower priority of payment.
Moreover, if a form of Credit Support covers more than one series of
Certificates, holders of Certificates of one series will be subject to the risk
that such Credit Support will be exhausted by the claims of the holders of
Certificates of one or more other series.
The amount of any applicable Credit Support supporting one or more classes
of Offered Certificates, including the subordination of one or more classes of
Certificates, will be determined on the basis of criteria established by each
Rating Agency rating such classes of Certificates based on an assumed level of
defaults, delinquencies and losses on the underlying Mortgage Assets and other
factors. There can be, however, no assurance that the loss experience on the
related Mortgage Assets will not exceed such assumed levels. See "--Limited
Nature of Ratings," "Description of the Certificates" and "Description of Credit
Support."
CERTAIN FEDERAL TAX CONSIDERATIONS REGARDING REMIC RESIDUAL CERTIFICATES
Holders of REMIC Residual Certificates will be required to report on their
federal income tax returns as ordinary income their pro rata share of the
taxable income of the REMIC, regardless of the amount or timing of their receipt
of cash payments, as described under "Material Federal Income Tax
Consequences--REMICs." Accordingly, under certain circumstances, holders of
Offered Certificates that constitute REMIC Residual Certificates may have
taxable income and tax liabilities arising from such investment during a taxable
year in excess of the cash received during such period. The requirement that
holders of REMIC Residual Certificates report their pro rata share of the
taxable income and net loss of the REMIC will continue until the Certificate
Balances of all classes of Certificates of the related series have been reduced
to zero, even though holders of REMIC Residual Certificates have received full
payment of their stated interest and principal. A portion (or, in certain
circumstances, all) of such Certificateholder's share of the REMIC taxable
income may be treated as "excess inclusion" income to such holder, which (i)
generally will not be subject to offset by losses from other activities, (ii)
for a tax-exempt holder, will be treated as unrelated business taxable income
and (iii) for a foreign holder, will not qualify for exemption from withholding
tax. Individual holders of REMIC Residual Certificates may be limited in their
ability to deduct servicing fees and other expenses of the REMIC. In addition,
REMIC Residual Certificates are subject to certain restrictions on transfer.
Because of the special tax treatment of REMIC Residual Certificates, the taxable
income arising in a given year on a REMIC Residual Certificate will not be equal
to the taxable income associated with investment in a corporate bond or stripped
instrument having similar cash flow characteristics and pre-tax yield.
Therefore, the after-tax yield on a REMIC Residual Certificate may be
significantly less than that of a corporate bond or stripped instrument having
similar cash flow characteristics.
ERISA CONSIDERATIONS--COVERED INVESTORS MAY EXPERIENCE LIABILITY
Generally, ERISA applies to investments made by employee benefit plans and
transactions involving the assets of such plans. Due to the complexity of
regulations that govern such plans, prospective investors that are subject to
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ERISA are urged to consult their own counsel regarding consequences under ERISA
of acquisition, ownership and disposition of the Offered Certificates of any
series. See "ERISA Considerations."
BOOK-ENTRY REGISTRATION OF CERTIFICATES AFFECTS OWNERSHIP OF CERTIFICATES AND
RECEIPT OF PAYMENT
If so provided in the related Prospectus Supplement, one or more classes of
the Offered Certificates of any series will be issued as Book-Entry
Certificates. Each class of Book-Entry Certificates will be initially
represented by one or more Certificates registered in the name of a nominee for
DTC. As a result, unless and until corresponding Definitive Certificates are
issued, the Certificate Owners with respect to any class of Book-Entry
Certificates will be able to exercise the rights of Certificateholders only
indirectly through DTC and its participating organizations ("Participants"). In
addition, the access of Certificate Owners to information regarding the
Book-Entry Certificates in which they hold interests may be limited. The means
by which notices and other communications are conveyed by DTC to its
Participants, and directly and indirectly through such Participants to
Certificate Owners, will be governed by arrangements among them, subject to any
statutory or regulatory requirements as may be in effect from time to time.
Furthermore, as described herein, Certificate Owners may experience delays in
the receipt of payments on the Book-Entry Certificates, and the ability of any
Certificate Owner to pledge or otherwise take actions with respect to its
interest in the Book-Entry Certificates may be limited due to the lack of a
physical certificate evidencing such interest. See "Description of the
Certificates--Book-Entry Registration and Definitive Certificates."
DESCRIPTION OF THE TRUST FUNDS GENERAL
The primary assets of each Trust Fund will consist of (i) multifamily
and/or commercial mortgage loans (the "Mortgage Loans"), (ii) mortgage
participations, pass-through certificates or other mortgage-backed securities
such as mortgage-backed securities that are similar to a series of Certificates
("MBS") that evidence interests in, or that are secured by pledges of, one or
more of various types of multifamily or commercial mortgage loans or (iii) a
combination of Mortgage Loans and MBS (collectively, "Mortgage Assets"). Each
Trust Fund will be established by Merrill Lynch Mortgage Investors, Inc. (the
"Depositor"). Each Mortgage Asset will be selected by the Depositor for
inclusion in a Trust Fund from among those purchased, either directly or
indirectly, from a prior holder thereof (a "Mortgage Asset Seller"), which prior
holder may or may not be the originator of such Mortgage Loan or the issuer of
such MBS and may be an affiliate of the Depositor. The Mortgage Assets will not
be guaranteed or insured by the Depositor or any of its affiliates or, unless
otherwise provided in the related Prospectus Supplement, by any governmental
agency or instrumentality or by any other person. The discussion below under the
heading "--Mortgage Loans," unless otherwise noted, applies equally to mortgage
loans underlying any MBS included in a particular Trust Fund.
MORTGAGE LOANS
General. The Mortgage Loans will be evidenced by promissory notes (the
"Mortgage Notes") secured by mortgages, deeds of trust or similar security
instruments (the "Mortgages") that create liens on properties (the "Mortgaged
Properties") consisting of retail stores, office buildings, health care-related
facilities, warehouse facilities, or other types of income-producing properties
("Commercial Properties"). The Multifamily Properties may include mixed
commercial and residential structures and may include apartment buildings owned
by private cooperative housing corporations ("Cooperatives"). If so specified in
the related Prospectus Supplement, each Mortgage will create a first priority
mortgage lien on a Mortgaged Property. A Mortgage may create a lien on a
borrower's leasehold estate in a property; however, if so specified in the
related Prospectus Supplement, the term of any such leasehold will exceed the
term of the Mortgage Note by at least two years. Each Mortgage Loan will have
been originated by a person (the "Originator") other than the Depositor.
If so specified in the related Prospectus Supplement, Mortgage Assets for a
series of Certificates may include Mortgage Loans made on the security of real
estate projects under construction. In that case, the related Prospectus
Supplement will describe the procedures and timing for making disbursements from
construction reserve funds as portions of the related real estate project are
completed. In addition, the Mortgage Assets for a particular series of
Certificates may include Mortgage Loans that are delinquent or non-performing as
of the date such Certificates are issued. In that case, the related Prospectus
Supplement will set forth, as to each such Mortgage Loan, available information
as to the period of such delinquency or non-performance, any forbearance
arrangement then in effect, the condition of the related Mortgaged Property and
the ability of the Mortgaged Property to generate income to service the mortgage
debt.
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Default and Loss Considerations with Respect to the Mortgage Loans.
Mortgage loans secured by liens on income-producing properties are substantially
different from loans made on the security of owner-occupied single-family homes.
The repayment of a loan secured by a lien on an income-producing property is
typically dependent upon the successful operation of such property (that is, its
ability to generate income). Moreover, some or all of the Mortgage Loans
included in a particular Trust Fund may be non-recourse loans, which means that,
absent special facts, recourse in the case of default will be limited to the
Mortgaged Property and such other assets, if any, that were pledged to secure
repayment of the Mortgage Loan.
Lenders typically look to the Debt Service Coverage Ratio of a loan secured
by income-producing property as an important measure of the risk of default on
such a loan. As more fully set forth in the related Prospectus Supplement, the
"Debt Service Coverage Ratio" of a Mortgage Loan at any given time is the ratio
of (i) the Net Operating Income of the related Mortgaged Property for a
twelve-month period to (ii) the annualized scheduled payments on the Mortgage
Loan and on any other loan that is secured by a lien on the Mortgaged Property
prior to the lien of the related Mortgage. As more fully set forth in the
related Prospectus Supplement, "Net Operating Income" means, for any given
period, the total operating revenues derived from a Mortgaged Property during
such period, minus the total operating expenses incurred in respect of such
Mortgaged Property during such period other than (i) non-cash items such as
depreciation and amortization, (ii) capital expenditures and (iii) debt service
on loans (including the related Mortgage Loan) secured by liens on the Mortgaged
Property. The Net Operating Income of a Mortgaged Property will fluctuate over
time and may or may not be sufficient to cover debt service on the related
Mortgage Loan at any given time. As the primary source of the operating revenues
of a non-owner occupied income-producing property, rental income (and
maintenance payments from tenant-stockholders of a Cooperative) may be affected
by the condition of the applicable real estate market and/or area economy. In
addition, properties typically leased, occupied or used on a short-term basis,
such as certain health care-related facilities, hotels and motels, and
mini-warehouse and self-storage facilities, tend to be affected more rapidly by
changes in market or business conditions than do properties typically leased for
longer periods, such as warehouses, retail stores, office buildings and
industrial plants. Commercial Properties may be owner-occupied or leased to a
single tenant. Thus, the Net Operating Income of such a Mortgaged Property may
depend substantially on the financial condition of the borrower or the single
tenant, and Mortgage Loans secured by liens on such properties may pose greater
risks than loans secured by liens on Multifamily Properties or on multi-tenant
Commercial Properties.
Increases in operating expenses due to the general economic climate or
economic conditions in a locality or industry segment, such as increases in
interest rates, real estate tax rates, energy costs, labor costs and other
operating expenses, and/or to changes in governmental rules, regulations and
fiscal policies, may also affect the risk of default on a Mortgage Loan. As may
be further described in the related Prospectus Supplement, in some cases leases
of Mortgaged Properties may provide that the lessee, rather than the
borrower/landlord, is responsible for payment of operating expenses ("Net
Leases"). However, the existence of such "net of expense" provisions will result
in stable Net Operating Income to the borrower/landlord only to the extent that
the lessee is able to absorb operating expense increases while continuing to
make rent payments.
Lenders also look to the Loan-to-Value Ratio of a mortgage loan as a
measure of risk of loss if a property must be liquidated following a default. As
more fully set forth in the related Prospectus Supplement, the "Loan-to-Value
Ratio" of a Mortgage Loan at any given time is the ratio (expressed as a
percentage) of (i) the then outstanding principal balance of the Mortgage Loan
and the outstanding principal balance of any loan secured by a lien on the
related Mortgaged Property prior to the lien of the related Mortgage, to (ii)
the Value of such Mortgaged Property. The "Value" of a Mortgaged Property, is
generally its fair market value determined in an appraisal obtained by the
originator at the origination of such loan. The lower the Loan-to-Value Ratio,
the greater the percentage of the borrower's equity in a Mortgaged Property, and
thus the greater the cushion provided to the lender against loss on liquidation
following a default.
Loan-to-Value Ratios will not necessarily constitute an accurate measure of
the risk of liquidation loss in a pool of Mortgage Loans. For example, the value
of a Mortgaged Property as of the date of initial issuance of the related series
of Certificates may be less than the Value determined at loan origination, and
will likely continue to fluctuate from time to time based upon changes in
economic conditions and the real estate market. Moreover, even when current, an
appraisal is not necessarily a reliable estimate of value. Appraised values of
income-producing properties are generally based on the market comparison method
(recent resale value of comparable properties at the date of the appraisal), the
cost replacement method (the cost of replacing the property at such date), the
income capitalization method (a projection of value based upon the property's
projected net cash flow), or upon a selection from or interpolation of the
values derived from such methods. Each of these appraisal methods can present
analytical
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difficulties. It is often difficult to find truly comparable properties that
have recently been sold; the replacement cost of a property may have little to
do with its current market value; and income capitalization is inherently based
on inexact projections of income and expense and the selection of an appropriate
capitalization rate. Where more than one of these appraisal methods are used and
provide significantly different results, an accurate determination of value and,
correspondingly, a reliable analysis of default and loss risks, is even more
difficult.
While the Depositor believes that the foregoing considerations are
important factors that generally distinguish loans secured by liens on
income-producing real estate from single-family mortgage loans there is no
assurance that all of such factors will in fact have been prudently considered
by the Originators of the Mortgage Loans, or that, for a particular Mortgage
Loan, they are complete or relevant. See "Risk Factors--Risks Associated with
Certain Mortgage Loans and Income Producing Properties" and "--Balloon Payments;
Borrower Default."
Payment Provisions of the Mortgage Loans. If so specified in the related
Prospectus Supplement, all of the Mortgage Loans will have had original terms to
maturity of not more than 40 years and will provide for scheduled payments of
principal, interest or both, to be made on specified dates ("Due Dates") that
occur monthly, quarterly or semi-annually. A Mortgage Loan (i) may provide for
accrual of interest thereon at an interest rate(a "Mortgage Rate") that is fixed
over its term or that adjusts from time to time, or that may be converted at the
borrower's election from an adjustable to a fixed Mortgage Rate, or from a fixed
to an adjustable Mortgage Rate,(ii) may provide for level payments to maturity
or for payments that adjust from time to time to accommodate changes in the
Mortgage Rate or to reflect the occurrence of certain events, and may permit
negative amortization, (iii) may be fully amortizing over its term to maturity,
or may provide for little or no amortization over its term and thus require a
balloon payment on its stated maturity date, and (iv) may contain a prohibition
on prepayment (the period of such prohibition, a "Lock-out Period" and its date
of expiration, a "Lock-out Expiration Date") or require payment of a premium or
a yield maintenance penalty (a "Prepayment Premium") in connection with a
prepayment, in each case as described in the related Prospectus Supplement. A
Mortgage Loan may also contain a provision that entitles the lender to a share
of profits realized from the operation or disposition of the Mortgaged Property
(an "Equity Participation"), as described in the related Prospectus Supplement.
If holders of any class or classes of Offered Certificates of a series will be
entitled to all or a portion of an Equity Participation, the related Prospectus
Supplement will describe the Equity Participation and the method or methods by
which distributions in respect thereof will be made to such holders.
Mortgage Loan Information in Prospectus Supplements. Each Prospectus
Supplement will contain certain information pertaining to the Mortgage Loans
which will generally be current as of a date specified in the related Prospectus
Supplement and which, to the extent then applicable and specifically known to
the Depositor, will include the following: (i) the aggregate outstanding
principal balance and the largest, smallest and average outstanding principal
balance of the Mortgage Loans, (ii) the type or types of property that provide
security for repayment of the Mortgage Loans, (iii) the original and remaining
terms to maturity of the Mortgage Loans, and the seasoning of the Mortgage
Loans, (iv) the earliest and latest origination date and maturity date and
weighted average original and remaining terms to maturity of the Mortgage Loans,
(v) the original Loan-to-Value Ratios of the Mortgage Loans,(vi) the Mortgage
Rates or range of Mortgage Rates and the weighted average Mortgage Rate borne by
the Mortgage Loans, (vii) the geographic distribution of the Mortgaged
Properties on a state-by-state basis, (viii) information with respect to the
prepayment provisions, if any, of the Mortgage Loans, (ix) with respect to
Mortgage Loans with adjustable Mortgage Rates ("ARM Loans"), the index or
indices upon which such adjustments are based, the adjustment dates, the range
of gross margins and the weighted average gross margin, and any limits on
Mortgage Rate adjustments at the time of any adjustment and over the life of the
ARM Loan, (x) Debt Service Coverage Ratios either at origination or as of a more
recent date (or both) and (xi) information regarding the payment characteristics
of the Mortgage Loans, including without limitation balloon payment and other
amortization provisions. In appropriate cases, the related Prospectus Supplement
will also contain certain information available to the Depositor that pertains
to the provisions of leases and the nature of tenants of the Mortgaged
Properties. If the Depositor is unable to tabulate the specific information
described above at the time Offered Certificates of a series are initially
offered, more general information of the nature described above will be provided
in the related Prospectus Supplement, and specific information will be set forth
in a report which will be available to purchasers of those Certificates at or
before the initial issuance thereof and will be filed as part of a Current
Report on Form 8-K with the Commission within fifteen days following such
issuance.
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MBS
MBS may include (i) private (that is, not guaranteed or insured by the
United States or any agency or instrumentality thereof) mortgage participations,
mortgage pass-through certificates or other mortgage-backed securities such as
mortgage-backed securities that are similar to a series of Certificates or (ii)
certificates insured or guaranteed by FHLMC, FNMA, GNMA or FAMC, provided that
each MBS will evidence an interest in, or will be secured by a pledge of,
mortgage loans that conform to the descriptions of the Mortgage Loans contained
herein.
Any MBS will have been issued pursuant to a participation and servicing
agreement, a pooling and servicing agreement, an indenture or similar agreement
(an "MBS Agreement"). The issuer (the "MBS Issuer") of the MBS and/or the
servicer (the "MBS Servicer") of the underlying mortgage loans will have entered
into the MBS Agreement, generally with a trustee (the "MBS Trustee") or, in the
alternative, with the original purchaser or purchasers of the MBS.
The MBS may have been issued in one or more classes with characteristics
similar to the classes of Certificates described herein. Distributions in
respect of the MBS will be made by the MBS Servicer or the MBS Trustee on the
dates specified in the related Prospectus Supplement. The MBS Issuer or the MBS
Servicer or another person specified in the related Prospectus Supplement may
have the right or obligation to repurchase or substitute assets underlying the
MBS after a certain date or under other circumstances specified in the related
Prospectus Supplement.
Reserve funds, subordination or other credit support similar to that
described for the Certificates under "Description of Credit Support" may have
been provided with respect to the MBS. The type, characteristics and amount of
such credit support, if any, will be a function of the characteristics of the
underlying mortgage loans and other factors and generally will have been
established on the basis of the requirements of any Rating Agency that may have
assigned a rating to the MBS, or by the initial purchasers of the MBS.
The Prospectus Supplement for a series of Certificates that evidence
interests in MBS will specify, to the extent available, (i) the aggregate
approximate initial and outstanding principal amount and type of the MBS to be
included in the Trust Fund, (ii) the original and remaining term to stated
maturity of the MBS, if applicable, (iii) the pass-through or bond rate of the
MBS or the formula for determining such rates, (iv) the payment characteristics
of the MBS, (v) the MBS Issuer, MBS Servicer and MBS Trustee, as applicable,
(vi) a description of the credit support, if any, (vii) the circumstances under
which the related underlying mortgage loans, or the MBS themselves, may be
purchased prior to their maturity, (viii) the terms on which mortgage loans may
be substituted for those originally underlying the MBS, (ix) the servicing fees
payable under the MBS Agreement, (x) to the extent available to the Depositor,
the type of information in respect of the underlying mortgage loans described
under "--Mortgage Loans--Mortgage Loan Information in Prospectus Supplements"
and (xi) the characteristics of any cash flow agreements that relate to the MBS.
To the extent required under the securities laws, MBS included among the
assets of a Trust Fund will (i) either have been registered under the Securities
Act of 1933, as amended, or be eligible for resale under Rule 144(k) thereunder
and (ii) have been acquired in a bona fide secondary market transaction and not
from the issuer or an affiliate.
CERTIFICATE ACCOUNTS
Each Trust Fund will include one or more accounts (collectively, the
"Certificate Account") established and maintained on behalf of the
Certificateholders into which the person or persons designated in the related
Prospectus Supplement will, to the extent described herein and in such
Prospectus Supplement, deposit all payments and collections received or advanced
with respect to the Mortgage Assets and other assets in the Trust Fund. A
Certificate Account may be maintained as an interest bearing or a non-interest
bearing account, and funds held therein may be held as cash or invested in
certain short-term, investment grade obligations, in each case as described in
the related Prospectus Supplement.
CREDIT SUPPORT
If so provided in the related Prospectus Supplement, partial or full
protection against certain defaults and losses on the Mortgage Assets in the
related Trust Fund may be provided to one or more classes of Certificates in the
related series in the form of subordination of one or more other classes of
Certificates in such series or by one or more other types of credit support,
such as a letter of credit, insurance policy, guarantee or reserve fund, or by a
combination
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thereof (any such coverage with respect to the Certificates of any series,
"Credit Support"). The amount and types of Credit Support, the identity of the
entity providing it (if applicable) and related information with respect to each
type of Credit Support, if any, will be set forth in the Prospectus Supplement
for the Offered Certificates of each series. See "Risk Factors--Credit Support
Limitations" and "Description of Credit Support."
CASH FLOW AGREEMENTS
If so provided in the related Prospectus Supplement, the Trust Fund may
include guaranteed investment contracts pursuant to which moneys held in the
funds and accounts established for the related series will be invested at a
specified rate. The Trust Fund may also include interest rate exchange
agreements, interest rate cap or floor agreements, currency exchange agreements
or similar agreements designed to reduce the effects of interest rate or
currency exchange rate fluctuations on the Mortgage Assets on one or more
classes of Certificates. The principal terms of any such guaranteed investment
contract or other agreement (any such agreement, a "Cash Flow Agreement"), and
the identity of the Cash Flow Agreement obligor, will be described in the
related Prospectus Supplement.
PRE-FUNDING
If so provided in the related Prospectus Supplement, a Trust Fund may
include amounts on deposit in a separate account (the "Pre-Funding Account")
which amounts will not exceed 25% of the pool balance of the Trust Fund as of
the Cut-off Date. Amounts on deposit in the Pre-Funding Account may be used by
the Trust Fund to acquire additional Mortgage Assets, which additional Mortgage
Assets will be selected using criteria that is substantially similar to the
criteria used to select the Mortgage Assets included in the Trust Fund on the
Closing Date. The Trust Fund may acquire such additional Mortgage Assets for a
period of time of not more than 120 days after the Closing Date (the
"Pre-Funding Period") as specified in the related Prospectus Supplement. Amounts
on deposit in the Pre-Funding Account after the end of the Pre-Funding Period,
will be distributed to Certificateholders or such other person as set forth in
the related Prospectus Supplement. If so provided in the related Prospectus
Supplement, the Trust Fund may include amounts on deposit in a separate account
(the "Capitalized Interest Account"). Amounts on deposit in the Capitalized
Interest Account may be used to supplement investment earnings, if any, of
amounts on deposit in the Pre-Funding Account, supplement interest collections
of the Trust Fund, or such other purpose as specified in the related Prospectus
Supplement. As set forth in a related Prospectus Supplement, amounts on deposit
in the Capitalized Interest Account and Pre-Funding Account will be held in cash
or invested in short-term investment grade obligations. Any amounts on deposit
in the Capitalized Interest Account will be released after the end of the
Pre-Funding Period as specified in the related Prospectus Supplement. See "Risk
Factors--Effects of Pre-Funding and Acquisition of Additional Mortgage Assets."
YIELD AND MATURITY CONSIDERATIONS
GENERAL
The yield on any Offered Certificate will depend on the price paid by the
Certificateholder, the Pass-Through Rate of the Certificate and the amount and
timing of distributions on the Certificate. See "Risk Factors--Prepayments;
Average Life of Certificates; Yields." The following discussion contemplates a
Trust Fund that consists solely of Mortgage Loans. While the characteristics and
behavior of mortgage loans underlying MBS can generally be expected to have the
same effect on the yield to maturity and/or weighted average life of a Class of
Certificates as will the characteristics and behavior of comparable Mortgage
Loans, the effect may differ due to the payment characteristics of the MBS. If a
Trust Fund includes MBS, the related Prospectus Supplement will discuss the
effect that the MBS payment characteristics may have on the yield to maturity
and weighted average lives of the Offered Certificates offered thereby.
PASS-THROUGH RATE
The Certificates of any class within a series may have a fixed, variable or
adjustable Pass-Through Rate, which may or may not be based upon the interest
rates borne by the Mortgage Loans in the related Trust Fund. The Prospectus
Supplement with respect to the Offered Certificates of any series will specify
the Pass-Through Rate for each class of such Certificates or, in the case of a
class of Offered Certificates with a variable or adjustable Pass-Through Rate,
the method of determining the Pass-Through Rate; the effect, if any, of the
prepayment of any
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Mortgage Loan on the Pass-Through Rate of one or more classes of Offered
Certificates; and whether the distributions of interest on the Offered
Certificates of any class will be dependent, in whole or in part, on the
performance of any obligor under a Cash Flow Agreement.
PAYMENT DELAYS
With respect to any series of Certificates, a period of time will elapse
between the date upon which payments on the Mortgage Loans in the related Trust
Fund are due and the Distribution Date on which such payments are passed through
to Certificateholders. That delay will effectively reduce the yield that would
otherwise be produced if payments on such Mortgage Loans were distributed to
Certificateholders on or near the date they were due.
CERTAIN SHORTFALLS IN COLLECTIONS OF INTEREST
When a principal prepayment in full or in part is made on a Mortgage
Loan, the borrower is generally charged interest only for the period from the
Due Date of the preceding scheduled payment up to the date of such prepayment,
instead of for the full accrual period, that is, the period from the Due Date
of the preceding scheduled payment up to the Due Date for the next scheduled
payment. However, interest accrued on any series of Certificates and
distributable thereon on any Distribution Date will generally correspond to
interest accrued on the principal balance of Mortgage Loans for their
respective full accrual periods. Consequently, if a prepayment on any Mortgage
Loan is distributable to Certificateholders on a particular Distribution Date,
but such prepayment is not accompanied by interest thereon for the full
accrual period, the interest charged to the borrower (net of servicing and
administrative fees) may be less (such shortfall, a "Prepayment Interest
Shortfall") than the corresponding amount of interest accrued and otherwise
payable on the Certificates of the related series. If and to the extent that
any such shortfall is allocated to a class of Offered Certificates, the yield
thereon will be adversely affected. The Prospectus Supplement for a series of
Certificates will describe the manner in which any such shortfalls will be
allocated among the classes of such Certificates. If so specified in the
related Prospectus Supplement, the Master Servicer will be required to apply
some or all of its servicing compensation for the corresponding period to
offset the amount of any such shortfalls. The related Prospectus Supplement
will also describe any other amounts available to offset such shortfalls. See
"Description of the Pooling Agreements--Servicing Compensation and Payment of
Expenses."
YIELD AND PREPAYMENT CONSIDERATIONS
A Certificate's yield to maturity will be affected by the rate of principal
payments on the Mortgage Loans in the related Trust Fund and the allocation
thereof to reduce the principal balance (or Notional Amount, if applicable) of
such Certificate. The rate of principal payments on the Mortgage Loans will in
turn be affected by the amortization schedules thereof (which, in the case of
ARM Loans, will change periodically to accommodate adjustments to their Mortgage
Rates), the dates on which any balloon payments are due, and the rate of
principal prepayments thereon (including for this purpose, prepayments resulting
from liquidations of Mortgage Loans due to defaults, casualties or condemnations
affecting the Mortgaged Properties, or purchases of Mortgage Loans out of the
Trust Fund). Because the rate of principal prepayments on the Mortgage Loans in
any Trust Fund will depend on future events and a variety of factors (as
discussed more fully below), it is impossible to predict with assurance.
The extent to which the yield to maturity of a class of Offered
Certificates of any series may vary from the anticipated yield will depend upon
the degree to which they are purchased at a discount or premium and when, and to
what degree, payments of principal on the Mortgage Loans in the related Trust
Fund are in turn distributed on such Certificates (or, in the case of a class of
Stripped Interest Certificates, result in the reduction of the Notional Amount
thereof). Further, an investor should consider, in the case of any Offered
Certificate purchased at a discount, the risk that a slower than anticipated
rate of principal payments on the Mortgage Loans in the related Trust Fund could
result in an actual yield to such investor that is lower than the anticipated
yield and, in the case of any Offered Certificate purchased at a premium, the
risk that a faster than anticipated rate of principal payments could result in
an actual yield to such investor that is lower than the anticipated yield. In
general, the earlier a prepayment of principal on the Mortgage Loans is
distributed on an Offered Certificate purchased at a discount or premium (or, if
applicable, is allocated in reduction of the Notional Amount thereof), the
greater will be the effect on the investor's yield to maturity. As a result, the
effect on such investor's yield of principal payments (to the extent
distributable in reduction of the principal balance or Notional Amount of such
investor's Offered Certificates) occurring at a rate higher (or lower) than the
rate anticipated by the investor during any particular period would not be fully
offset by a subsequent like reduction (or increase) in the rate of principal
payments.
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A class of Certificates, including a class of Offered Certificates, may
provide that on any Distribution Date the holders of such Certificates are
entitled to a pro rata share of the prepayments (including prepayments
occasioned by defaults) on the Mortgage Loans in the related Trust Fund that are
distributable on such date, to a disproportionately large share (which, in some
cases, may be all) of such prepayments, or to a disproportionately small share
(which, in some cases, may be none) of such prepayments. As and to the extent
described in the related Prospectus Supplement, the respective entitlements of
the various classes of Certificateholders of any series to receive payments
(and, in particular, prepayments) of principal of the Mortgage Loans in the
related Trust Fund may vary based on the occurrence of certain events (e.g., the
retirement of one or more classes of Certificates of such series) or subject to
certain contingencies (e.g., prepayment and default rates with respect to such
Mortgage Loans).
In general, the Notional Amount of a class of Stripped Interest
Certificates will either (i) be based on the principal balances of some or all
of the Mortgage Assets in the related Trust Fund or (ii) equal the Certificate
Balances of one or more of the other classes of Certificates of the same series.
Accordingly, the yield on such Stripped Interest Certificates will be directly
related to the amortization of such Mortgage Assets or such classes of
Certificates, as the case may be. Thus, if a class of Certificates of any series
consists of Stripped Interest Certificates or Stripped Principal Certificates, a
lower than anticipated rate of principal prepayments on the Mortgage Loans in
the related Trust Fund will negatively affect the yield to investors in Stripped
Principal Certificates, and a higher than anticipated rate of principal
prepayments on such Mortgage Loans will negatively affect the yield to investors
in Stripped Interest Certificates.
The Depositor is not aware of any relevant publicly available or
authoritative statistics with respect to the historical prepayment experience of
a large group of multifamily or commercial mortgage loans. However, the extent
of prepayments of principal of the Mortgage Loans in any Trust Fund may be
affected by a number of factors, including, without limitation, the availability
of mortgage credit, the relative economic vitality of the area in which the
Mortgaged Properties are located, the quality of management of the Mortgaged
Properties, the servicing of the Mortgage Loans, possible changes in tax laws
and other opportunities for investment. In addition, the rate of principal
payments on the Mortgage Loans in any Trust Fund may be affected by the
existence of Lock-out Periods and requirements that principal prepayments be
accompanied by Prepayment Premiums, and by the extent to which such provisions
may be practicably enforced.
The rate of prepayment on a pool of mortgage loans is also affected by
prevailing market interest rates for mortgage loans of a comparable type, term
and risk level. When the prevailing market interest rate is below a mortgage
coupon, a borrower may have an increased incentive to refinance its mortgage
loan. In addition, as prevailing market interest rates decline, even borrowers
with ARM Loans that have experienced a corresponding interest rate decline may
have an increased incentive to refinance for purposes of either (i) converting
to a fixed rate loan and thereby "locking in" such rate or (ii) taking advantage
of the initial "teaser rate" (a mortgage interest rate below what it would
otherwise be if the applicable index and gross margin were applied) on another
adjustable rate mortgage loan.
Depending on prevailing market interest rates, the outlook for market
interest rates and economic conditions generally, some borrowers may sell
Mortgaged Properties in order to realize their equity therein, to meet cash flow
needs or to make other investments. In addition, some borrowers may be motivated
by federal and state tax laws (which are subject to change) to sell Mortgaged
Properties prior to the exhaustion of tax depreciation benefits. The Depositor
will make no representation as to the particular factors that will affect the
prepayment of the Mortgage Loans in any Trust Fund, as to the relative
importance of such factors, as to the percentage of the principal balance of
such Mortgage Loans that will be paid as of any date or as to the overall rate
of prepayment on such Mortgage Loans.
WEIGHTED AVERAGE LIFE AND MATURITY
The rate at which principal payments are received on the Mortgage Loans in
any Trust Fund will affect the ultimate maturity and the weighted average life
of one or more classes of the Certificates of such series. Weighted average life
refers to the average amount of time that will elapse from the date of issuance
of an instrument until each dollar of the principal amount of such instrument is
repaid to the investor.
The weighted average life and maturity of a class of Certificates of any
series will be influenced by the rate at which principal on the related Mortgage
Loans, whether in the form of scheduled amortization or prepayments (for this
purpose, the term "prepayment" includes voluntary prepayments, liquidations due
to default and purchases of Mortgage Loans out of the related Trust Fund), is
paid to such class. Prepayment rates on loans are commonly
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measured relative to a prepayment standard or model, such as the Constant
Prepayment Rate ("CPR") prepayment model or the Standard Prepayment Assumption
("SPA") prepayment model. CPR represents an assumed constant rate of prepayment
each month (expressed as an annual percentage) relative to the then outstanding
principal balance of a pool of loans for the life of such loans. SPA represents
an assumed variable rate of prepayment each month (expressed as an annual
percentage) relative to the then outstanding principal balance of a pool of
loans, with different prepayment assumptions often expressed as percentages of
SPA. For example, a prepayment assumption of 100% of SPA assumes prepayment
rates of 0.2% per annum of the then outstanding principal balance of such loans
in the first month of the life of the loans and an additional 0.2% per annum in
each month thereafter until the thirtieth month. Beginning in the thirtieth
month, and in each month thereafter during the life of the loans, 100% of SPA
assumes a constant prepayment rate of 6% per annum each month.
Neither CPR nor SPA nor any other prepayment model or assumption purports
to be a historical description of prepayment experience or a prediction of the
anticipated rate of prepayment of any particular pool of loans. Moreover, the
CPR and SPA models were developed based upon historical prepayment experience
for single-family loans. Thus, it is unlikely that the prepayment experience of
the Mortgage Loans included in any Trust Fund will conform to any particular
level of CPR or SPA.
The Prospectus Supplement with respect to each series of Certificates will
contain tables, if applicable, setting forth the projected weighted average life
of each class of Offered Certificates of such series and the percentage of the
initial Certificate Balance of each such class that would be outstanding on
specified Distribution Dates based on the assumptions stated in such Prospectus
Supplement, including assumptions that prepayments on the related Mortgage Loans
are made at rates corresponding to various percentages of CPR or SPA, or at such
other rates specified in such Prospectus Supplement. Such tables and assumptions
will illustrate the sensitivity of the weighted average lives of the
Certificates to various assumed prepayment rates and will not be intended to
predict, or to provide information that will enable investors to predict, the
actual weighted average lives of the Certificates.
CONTROLLED AMORTIZATION CLASSES AND COMPANION CLASSES
A series of Certificates may include one or more Controlled Amortization
Classes that are designed to provide increased protection against prepayment
risk by transferring that risk to one or more Companion Classes. If so specified
in the related Prospectus Supplement, each Controlled Amortization Class will
either be a Planned Amortization Class (a "PAC") or a Targeted Amortization
Class (a "TAC"). In general, distributions of principal on a PAC are made in
accordance with a specified amortization schedule so long as prepayments on the
underlying Mortgage Loans occur within a specified range of constant prepayment
rates and, as described below, so long as one or more Companion Classes remain
to absorb excess cash flows and make up for shortfalls. For example, if the rate
of prepayments is significantly higher than expected, the excess prepayments may
retire the Companion Classes much earlier than expected, thus leaving the PAC
without further prepayment protection. A TAC is similar to a PAC, but a TAC
structure generally does not draw on Companion Classes to make up cash flow
shortfalls, and will generally not provide protection to the TAC against the
risk that prepayments occur more slowly than expected.
In general, the reduction of prepayment risk afforded to a Controlled
Amortization Class comes at the expense of one or more Companion Classes of the
same series (any of which may also be a class of Offered Certificates) which
absorb a disproportionate share of the overall prepayment risk of a given
structure. As more particularly described in the related Prospectus Supplement,
the holders of a Companion Class will receive a disproportionately large share
of prepayments when the rate of prepayment exceeds the rate assumed in
structuring the Controlled Amortization Class, and (in the case of a Companion
Class that supports a PAC) a disproportionately small share of prepayments (or
no prepayments) when the rate of prepayment falls below that assumed rate. Thus,
as and to the extent described in the related Prospectus Supplement, a Companion
Class will absorb a disproportionate share of the risk that a relatively fast
rate of prepayments will result in the early retirement of the investment, that
is, "call risk," and, if applicable, the risk that a relatively slow rate of
prepayments will extend the average life of the investment, that is, "extension
risk" that would otherwise be allocated to the related Controlled Amortization
Class. Accordingly, Companion Classes can exhibit significant average life
variability.
OTHER FACTORS AFFECTING YIELD, WEIGHTED AVERAGE LIFE AND MATURITY
Balloon Payments; Extensions of Maturity. Some or all of the Mortgage Loans
included in a particular Trust Fund may require that balloon payments be made at
maturity. Because the ability of a borrower to make a balloon
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payment typically will depend upon its ability either to refinance the loan or
to sell the related Mortgaged Property, there is a risk that Mortgage Loans that
require balloon payments may default at maturity, or that the maturity of such a
Mortgage Loan may be extended in connection with a workout. In the case of
defaults, recovery of proceeds may be delayed by, among other things, bankruptcy
of the borrower or adverse conditions in the market where the property is
located. In order to minimize losses on defaulted Mortgage Loans, the Master
Servicer or a Special Servicer, to the extent and under the circumstances set
forth herein and in the related Prospectus Supplement, may be authorized to
modify Mortgage Loans that are in default or as to which a payment default is
imminent. Any defaulted balloon payment or modification that extends the
maturity of a Mortgage Loan may delay distributions of principal on a class of
Offered Certificates and thereby extend the weighted average life of such
Certificates and, if such Certificates were purchased at a discount, reduce the
yield thereon.
Negative Amortization. The weighted average life of a class of Certificates
can be affected by Mortgage Loans that permit negative amortization. In general,
such Mortgage Loans by their terms limit the amount by which scheduled payments
may adjust in response to changes in Mortgage Rates and/or provide that
scheduled payment amounts will adjust less frequently than the Mortgage Rates.
Accordingly, during a period of rising interest rates, the scheduled payment on
a Mortgage Loan that permits negative amortization may be less than the amount
necessary to amortize the loan fully over its remaining amortization schedule
and pay interest at the then applicable Mortgage Rate. In that case, the
Mortgage Loan balance would amortize more slowly than necessary to repay it over
such schedule and, if the amount of scheduled payment were less than the amount
necessary to pay current interest at the applicable Mortgage Rate, the loan
balance would negatively amortize to the extent of the amount of the interest
shortfall. Conversely, during a period of declining interest rates, the
scheduled payment on such a Mortgage Loan may exceed the amount necessary to
amortize the loan fully over its remaining amortization schedule and pay
interest at the then applicable Mortgage Rate. In that case, the excess would be
applied to principal, thereby resulting in amortization at a rate faster than
necessary to repay the Mortgage Loan balance over such schedule.
A slower or negative rate of Mortgage Loan amortization would
correspondingly be reflected in a slower or negative rate of amortization for
one or more classes of Certificates of the related series. Accordingly, the
weighted average lives of Mortgage Loans that permit negative amortization (and
that of the classes of Certificates to which any such negative amortization
would be allocated or which would bear the effects of a slower rate of
amortization on such Mortgage Loans) may increase as a result of such feature. A
faster rate of Mortgage Loan amortization will shorten the weighted average life
of such Mortgage Loans and, correspondingly, the weighted average lives of those
classes of Certificates then entitled to a portion of the principal payments on
such Mortgage Loans. The related Prospectus Supplement will describe, if
applicable, the manner in which negative amortization in respect of the Mortgage
Loans in any Trust Fund is allocated among the respective classes of
Certificates of the related series.
Foreclosures and Payment Plans. The number of foreclosures and the
principal amount of the Mortgage Loans that are foreclosed in relation to the
number and principal amount of Mortgage Loans that are repaid in accordance with
their terms will affect the weighted average lives of those Mortgage Loans and,
accordingly, the weighted average lives of and yields on the Certificates of the
related series. Servicing decisions made with respect to the Mortgage Loans,
including the use of payment plans prior to a demand for acceleration and the
restructuring of Mortgage Loans in bankruptcy proceedings, may also have an
effect upon the payment patterns of particular Mortgage Loans and thus the
weighted average lives of and yields on the Certificates of the related series.
Losses and Shortfalls on the Mortgage Assets. The yield to holders of the
Offered Certificates of any series will directly depend on the extent to which
such holders are required to bear the effects of any losses or shortfalls in
collections arising out of defaults on the Mortgage Loans in the related Trust
Fund and the timing of such losses and shortfalls. In general, the earlier that
any such loss or shortfall occurs, the greater will be the negative effect on
yield for any class of Certificates that is required to bear the effects
thereof.
The amount of any losses or shortfalls in collections on the Mortgage
Assets in any Trust Fund (to the extent not covered or offset by draws on any
reserve fund or under any instrument of Credit Support) will be allocated among
the respective classes of Certificates of the related series in the priority and
manner, and subject to the limitations, specified in the related Prospectus
Supplement. As described in the related Prospectus Supplement, such allocations
may result in reductions in the entitlements to interest and/or Certificate
Balances of one or more such classes of Certificates, or may be effected simply
by a prioritization of payments among such classes of Certificates. The yield to
maturity on a class of Subordinate Certificates may be extremely sensitive to
losses and shortfalls in collections on the Mortgage Loans in the related Trust
Fund.
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Additional Certificate Amortization. In addition to entitling the holders
thereof to a specified portion (which may range from none to all) of the
principal payments received on the Mortgage Assets in the related Trust Fund,
one or more classes of Certificates of any series, including one or more classes
of Offered Certificates of such series, may provide for distributions of
principal thereof from (i) amounts attributable to interest accrued but not
currently distributable on one or more classes of Accrual Certificates, (ii)
Excess Funds or (iii) any other amounts described in the related Prospectus
Supplement. As specifically set forth in the related Prospectus Supplement,
"Excess Funds" will, in general, represent that portion of the amounts
distributable in respect of the Certificates of any series on any Distribution
Date that represent (i) interest received or advanced on the Mortgage Assets in
the related Trust Fund that is in excess of the interest currently distributable
on the Certificates of such series, as well as any interest accrued but not
currently distributable on any Accrual Certificates of such series, or (ii)
Prepayment Premiums, payments from Equity Participations or any other amounts
received on the Mortgage Assets in the related Trust Fund that do not constitute
interest thereon or principal thereof.
The amortization of any class of Certificates out of the sources described
in the preceding paragraph would shorten the weighted average life of such
Certificates and, if such Certificates were purchased at a premium, reduce the
yield thereon. The related Prospectus Supplement will discuss the relevant
factors to be considered in determining whether distributions of principal of
any class of Certificates out of such sources would have any material effect on
the rate at which such Certificates are amortized.
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THE DEPOSITOR
Merrill Lynch Mortgage Investors, Inc., the Depositor, is a Delaware
corporation organized on June 13, 1986 as a wholly-owned limited purpose finance
subsidiary of Merrill Lynch Mortgage Capital Inc. (a wholly-owned indirect
subsidiary of Merrill Lynch & Co.). The Depositor's principal business is to
acquire, hold and/or sell or otherwise dispose of cash flow assets, usually in
connection with the securitization of that asset. The Depositor maintains its
principal office at World Financial Center, North Tower-Fifteenth Floor, 250
Vesey Street, New York, New York 10281-1315. Its telephone number is (212)
449-0336. The Depositor does not have, nor is it expected in the future to have,
any significant assets.
USE OF PROCEEDS
The net proceeds to be received from the sale of the Certificates of any
series will be applied by the Depositor to the purchase of Trust Assets or will
be used by the Depositor for general corporate purposes. The Depositor expects
to sell the Certificates from time to time, but the timing and amount of
offerings of Certificates will depend on a number of factors, including the
volume of Mortgage Assets acquired by the Depositor, prevailing interest rates,
availability of funds and general market conditions.
DESCRIPTION OF THE CERTIFICATES
GENERAL
The Certificates of each series will consist of one or more classes and
will represent the entire beneficial ownership interest in the Trust Fund
created pursuant to the related Pooling Agreement. Each series of Certificates
may consist of one or more classes of Certificates (including classes of Offered
Certificates) that (i) provide for the accrual of interest thereon at a fixed,
variable or adjustable rate; (ii) are senior (collectively, "Senior
Certificates") or subordinate (collectively, "Subordinate Certificates") to one
or more other classes of Certificates in entitlement to certain distributions on
the Certificates; (iii) are entitled to distributions of principal, with
disproportionately small, nominal or no distributions of interest (collectively,
"Stripped Principal Certificates"); (iv) are entitled to distributions of
interest, with disproportionately small, nominal or no distributions of
principal (collectively, "Stripped Interest Certificates"); (v) provide for
distributions of principal and/or interest thereon that commence only after the
occurrence of certain events, such as the retirement of one or more other
classes of Certificates of such series; (vi) provide for distributions of
principal to be made, from time to time or for designated periods, at a rate
that is faster (and, in some cases, substantially faster) or slower (and, in
some cases, substantially slower) than the rate at which payments or other
collections of principal are received on the Mortgage Assets in the related
Trust Fund; or (vii) provide for distributions of principal to be made, subject
to available funds, based on a specified principal payment schedule or other
methodology.
Each class of Offered Certificates of a series will be issued in minimum
denominations corresponding to the Certificate Balances or, in case of Stripped
Interest Certificates or REMIC Residual Certificates, Notional Amounts or
percentage interests, specified in the related Prospectus Supplement. As
provided in the related Prospectus Supplement, one or more classes of Offered
Certificates of any series may be issued in fully registered, definitive form
(such Certificates, "Definitive Certificates") or may be offered in book-entry
format (such Certificates, "Book-Entry Certificates") through the facilities of
The Depository Trust Company ("DTC"). The Offered Certificates of each series
(if issued as Definitive Certificates) may be transferred or exchanged, subject
to any restrictions on transfer described in the related Prospectus Supplement,
at the location specified in the related Prospectus Supplement, without the
payment of any service charge, other than any tax or other governmental charge
payable in connection therewith. Interests in a class of Book-Entry Certificates
will be transferred on the book-entry records of DTC and its participating
organizations. See "Risk Factors--Limited Liquidity," "--Limited Assets" and
"--Book-Entry Registration."
DISTRIBUTIONS
Distributions on the Certificates of each series will be made by or on
behalf of the related Trustee or Master Servicer on each Distribution Date as
specified in the related Prospectus Supplement from the Available Distribution
Amount for such series and such Distribution Date. If so provided in the related
Prospectus Supplement, the "Available Distribution Amount" for any series of
Certificates and any Distribution Date will refer to the total of all
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payments or other collections (or advances in lieu thereof) on, under or in
respect of the Mortgage Assets and any other assets included in the related
Trust Fund that are available for distribution to the Certificateholders of such
series on such date. The particular components of the Available Distribution
Amount for any series on each Distribution Date will be more specifically
described in the related Prospectus Supplement.
Except as otherwise specified in the related Prospectus Supplement,
distributions on the Certificates of each series (other than the final
distribution in retirement of any such Certificate) will be made to the persons
in whose names such Certificates are registered at the close of business on the
last business day of the month preceding the month in which the applicable
Distribution Date occurs (the "Record Date"), and the amount of each
distribution will be determined as of the close of business on the date (the
"Determination Date") specified in the related Prospectus Supplement. All
distributions with respect to each class of Certificates on each Distribution
Date will be allocated pro rata among the outstanding Certificates in such
class. Payments will be made either by wire transfer in immediately available
funds to the account of a Certificateholder at a bank or other entity having
appropriate facilities therefor, if such Certificateholder has provided the
Trustee or other person required to make such payments with wiring instructions
(which may be provided in the form of a standing order applicable to all
subsequent distributions) no later than the date specified in the related
Prospectus Supplement (and, if so provided in the related Prospectus Supplement,
such Certificateholder holds Certificates in the requisite amount or
denomination specified therein), or by check mailed to the address of such
Certificateholder as it appears on the Certificate Register; provided, however,
that the final distribution in retirement of any class of Certificates (whether
Definitive Certificates or Book-Entry Certificates) will be made only upon
presentation and surrender of such Certificates at the location specified in the
notice to Certificateholders of such final distribution.
DISTRIBUTIONS OF INTEREST ON THE CERTIFICATES
Each class of Certificates of each series (other than certain classes of
Stripped Principal Certificates and certain REMIC Residual Certificates that
have no Pass-Through Rate) may have a different Pass-Through Rate, which may be
fixed, variable or adjustable. The related Prospectus Supplement will specify
the Pass-Through Rate or, in the case of a variable or adjustable Pass-Through
Rate, the method for determining the Pass-Through Rate, for each class. Unless
otherwise specified in the related Prospectus Supplement, interest on the
Certificates of each series will be calculated on the basis of a 360-day year
consisting of twelve 30-day months.
Distributions of interest in respect of the Certificates of any class
(other than any class of Certificates that will be entitled to distributions of
accrued interest commencing only on the Distribution Date, or under the
circumstances, specified in the related Prospectus Supplement ("Accrual
Certificates"), and other than any class of Stripped Principal Certificates or
REMIC Residual Certificates that is not entitled to any distributions of
interest) will be made on each Distribution Date based on the Accrued
Certificate Interest for such class and such Distribution Date, subject to the
sufficiency of the portion of the Available Distribution Amount allocable to
such class on such Distribution Date. Prior to the time interest is
distributable on any class of Accrual Certificates, the amount of Accrued
Certificate Interest otherwise distributable on such class will be added to the
Certificate Balance thereof on each Distribution Date. With respect to each
class of Certificates (other than certain classes of Stripped Interest
Certificates and REMIC Residual Certificates), "Accrued Certificate Interest"
for each Distribution Date will be equal to interest at the applicable
Pass-Through Rate accrued for a specified period (generally the period between
Distribution Dates) on the outstanding Certificate Balance thereof immediately
prior to such Distribution Date. Unless otherwise provided in the related
Prospectus Supplement, Accrued Certificate Interest for each Distribution Date
on Stripped Interest Certificates will be similarly calculated except that it
will accrue on a notional amount (a "Notional Amount") that is either (i) based
on the principal balances of some or all of the Mortgage Assets in the related
Trust Fund or (ii) equal to the Certificate Balances of one or more other
classes of Certificates of the same series. Reference to a Notional Amount with
respect to a class of Stripped Interest Certificates is solely for convenience
in making certain calculations and does not represent the right to receive any
distributions of principal. If so specified in the related Prospectus
Supplement, the amount of Accrued Certificate Interest that is otherwise
distributable on (or, in the case of Accrual Certificates, that may otherwise be
added to the Certificate Balance of) one or more classes of the Certificates of
a series will be reduced to the extent that any Prepayment Interest Shortfalls,
as described under "Yield and Maturity Considerations--Certain Shortfalls in
Collections of Interest," exceed the amount of any sums (including, if and to
the extent specified in the related Prospectus Supplement, the Master Servicer's
servicing compensation) that are applied to offset such shortfalls. The
particular manner in which such shortfalls will be allocated among some or all
of the classes of Certificates of that series will be specified in the related
Prospectus Supplement. The related
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Prospectus Supplement will also describe the extent to which the amount of
Accrued Certificate Interest that is otherwise distributable on (or, in the case
of Accrual Certificates, that may otherwise be added to the Certificate Balance
of) a class of Offered Certificates may be reduced as a result of any other
contingencies, including delinquencies, losses and deferred interest on or in
respect of the Mortgage Assets in the related Trust Fund. Unless otherwise
provided in the related Prospectus Supplement, any reduction in the amount of
Accrued Certificate Interest otherwise distributable on a class of Certificates
by reason of the allocation to such class of a portion of any deferred interest
on or in respect of the Mortgage Assets in the related Trust Fund will result in
a corresponding increase in the Certificate Balance of such class. See "Risk
Factors--Prepayments; Average Life of Certificates; Yields" and "Yield and
Maturity Considerations."
DISTRIBUTIONS OF CERTIFICATE PRINCIPAL
Each class of Certificates of each series (other than certain classes of
Stripped Interest Certificates of REMIC Residual Certificates) will have a
"Certificate Balance" which, at any time, will equal the then maximum amount
that the holders of Certificates of such class will be entitled to receive in
respect of principal out of the future cash flow on the Mortgage Assets and
other assets included in the related Trust Fund. The outstanding Certificate
Balance of a class of Certificates will be reduced by distributions of principal
made thereon from time to time and, if so provided in the related Prospectus
Supplement, further by any losses incurred in respect of the related Mortgage
Assets allocated thereto from time to time. In turn, the outstanding Certificate
Balance of a class of Certificates may be increased as a result of any deferred
interest on or in respect of the related Mortgage Assets that is allocated
thereto from time to time, and will be increased, in the case of a class of
Accrual Certificates prior to the Distribution Date on which distributions of
interest thereon are required to commence, by the amount of any Accrued
Certificate Interest in respect thereof (reduced as described above). Unless
otherwise provided in the related Prospectus Supplement, the initial aggregate
Certificate Balance of all classes of a series of Certificates will not be
greater than the aggregate outstanding principal balance of the related Mortgage
Assets as of the applicable Cut-off Date, after application of scheduled
payments due on or before such date, whether or not received. As and to the
extent described in the related Prospectus Supplement, distributions of
principal with respect to a series of Certificates will be made on each
Distribution Date to the holders of the class or classes of Certificates of such
series entitled thereto until the Certificate Balances of such Certificates have
been reduced to zero. Distributions of principal with respect to one or more
classes of Certificates may be made at a rate that is faster (and, in some
cases, substantially faster) than the rate at which payments or other
collections of principal are received on the Mortgage Assets in the related
Trust Fund, may not commence until the occurrence of certain events, such as the
retirement of one or more other classes of Certificates of the same series, or
may be made at a rate that is slower (and, in some cases, substantially slower)
than the rate at which payments or other collections of principal are received
on such Mortgage Assets. In addition, distributions of principal with respect to
one or more classes of Certificates (each such class, a "Controlled Amortization
Class") may be made, subject to available funds, based on a specified principal
payment schedule and, with respect to one or more classes of Certificates (each
such class, a "Companion Class"), may be contingent on the specified principal
payment schedule for a Controlled Amortization Class of the same series and the
rate at which payments and other collections of principal on the Mortgage Assets
in the related Trust Fund are received. Unless otherwise specified in the
related Prospectus Supplement, distributions of principal of any class of
Certificates will be made on a pro rata basis among all of the Certificates of
such class.
DISTRIBUTIONS ON THE CERTIFICATES IN RESPECT OF PREPAYMENT PREMIUMS OR IN
RESPECT OF EQUITY PARTICIPATIONS
If so provided in the related Prospectus Supplement, Prepayment Premiums or
payments in respect of Equity Participations received on or in connection with
the Mortgage Assets in any Trust Fund will be distributed on each Distribution
Date to the holders of the class of Certificates of the related series entitled
thereto in accordance with the provisions described in such Prospectus
Supplement.
ALLOCATION OF LOSSES AND SHORTFALLS
The amount of any losses or shortfalls in collections on the Mortgage
Assets in any Trust Fund (to the extent not covered or offset by draws on any
reserve fund or under any instrument of Credit Support) will be allocated among
the respective classes of Certificates of the related series in the priority and
manner, and subject to the limitations, specified in the related Prospectus
Supplement. As described in the related Prospectus Supplement, such allocations
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may result in reductions in the entitlements to interest and/or in the
Certificate Balances of one or more such classes of Certificates, or may be
effected simply by a prioritization of payments among such classes of
Certificates.
ADVANCES IN RESPECT OF DELINQUENCIES
If and to the extent provided in the related Prospectus Supplement, the
related Master Servicer and/or other specified person (including a provider of
Credit Support) may be obligated to advance, or have the option of advancing, on
or before each Distribution Date, from its or their own funds or from excess
funds held in the related Certificate Account that are not part of the Available
Distribution Amount for the related series of Certificates for such Distribution
Date, an amount up to the aggregate of any payments of principal (other than any
balloon payments) and interest that were due on or in respect of such Mortgage
Loans during the related Due Period and were delinquent on the related
Determination Date. Unless otherwise provided in the related Prospectus
Supplement, a "Due Period" is the period between Distribution Dates, and
scheduled payments on the Mortgage Loans in any Trust Fund that became due
during a given Due Period will, to the extent received by the related
Determination Date or advanced by the related Master Servicer or other specified
person, be distributed on the Distribution Date next succeeding such
Determination Date.
Advances are intended to maintain a regular flow of scheduled interest and
principal payments to holders of the class or classes of Certificates entitled
thereto, rather than to guarantee or insure against losses. Accordingly, all
advances made from the advancing person's own funds will be reimbursable out of
related recoveries on the Mortgage Loans (including amounts received under any
instrument of Credit Support) respecting which such advances were made (as to
any Mortgage Loan, "Related Proceeds") and such other specific sources as may be
identified in the related Prospectus Supplement, including in the case of a
series that includes one or more classes of Subordinate Certificates,
collections on other Mortgage Loans in the related Trust Fund that would
otherwise be distributable to the holders of one or more classes of such
Subordinate Certificates. No advance will be required to be made by the Master
Servicer or by any other person if, in the good faith judgment of the Master
Servicer or such other person, such advance would not be recoverable from
Related Proceeds or another specifically identified source (any such advance, a
"Nonrecoverable Advance"); and, if previously made by a Master Servicer or
another person, a Nonrecoverable Advance will be reimbursable from any amounts
in the related Certificate Account prior to any distributions being made to the
related series of Certificateholders.
If advances have been made from excess funds in a Certificate Account, the
Master Servicer or other person that advanced such funds will be required to
replace such funds in the Certificate Account on any future Distribution Date to
the extent that funds then in the Certificate Account are insufficient to permit
full distributions to Certificateholders on such date. If so specified in the
related Prospectus Supplement, the obligation of a Master Servicer or other
specified person to make advances may be secured by a cash advance reserve fund
or a surety bond. If applicable, information regarding the characteristics of,
and the identity of any obligor on, any such surety bond, will be set forth in
the related Prospectus Supplement.
If and to the extent so provided in the related Prospectus Supplement, any
entity making advances will be entitled to receive interest thereon for the
period that such advances are outstanding at the rate specified in such
Prospectus Supplement, and such entity will be entitled to payment of such
interest periodically from general collections on the Mortgage Loans in the
related Trust Fund prior to any payment to Certificateholders or as otherwise
provided in the related Pooling Agreement and described in such Prospectus
Supplement.
The Prospectus Supplement for any series of Certificates evidencing an
interest in a Trust Fund that includes MBS will describe any comparable
advancing obligation of a party to the related Pooling Agreement or of a party
to the related MBS Agreement.
REPORTS TO CERTIFICATEHOLDERS
On each Distribution Date, together with the distribution to the holders of
each class of the Offered Certificates of a series, a Master Servicer or
Trustee, as provided in the related Prospectus Supplement, will forward to each
such holder, a statement (a "Distribution Date Statement") that, unless
otherwise provided in the related Prospectus Supplement, will set forth, among
other things, in each case to the extent applicable:
(i) the amount of such distribution to holders of Certificates of such
class that was applied to reduce the Certificate Balance thereof;
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(ii) the amount of such distribution to holders of Certificates of
such class that is allocable to Accrued Certificate Interest;
(iii) the amount, if any, of such distribution to holders of
Certificates of such class that is allocable to (A) Prepayment Premiums and
(B) payments on account of Equity Participations;
(iv) the amount of servicing compensation received by the related
Master Servicer (and, if payable directly out of the related Trust Fund, by
any Special Servicer and any Sub-Servicer) and such other customary
information as such Master Servicer or the related Trustee, as the case may
be, deems necessary or desirable, or that a Certificateholder reasonably
requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of advances included in such distribution,
and the aggregate amount of unreimbursed advances at the close of business
on such Distribution Date;
(vi) the aggregate principal balance of the related Mortgage Loans on,
or as of a specified date shortly prior to, such Distribution Date;
(vii) the number and aggregate principal balance of any Mortgage Loans
in respect of which (A) one scheduled payment is delinquent, (B) two
scheduled payments are delinquent, (C) three or more scheduled payments are
delinquent and (D) foreclosure proceedings have been commenced;
(viii) with respect to each Mortgage Loan that is delinquent in
respect of three or more scheduled payments, (A) the loan number thereof,
(B) the unpaid balance thereof, (C) whether the delinquency is in respect
of any balloon payment, (D) the aggregate amount of unreimbursed servicing
expenses and unreimbursed advances in respect thereof, (E) if applicable,
the aggregate amount of any interest accrued and payable to the related
Master Servicer, a Special Servicer and/or any other entity on related
servicing expenses and related advances, (F) whether a notice of
acceleration has been sent to the borrower and, if so, the date of such
notice and (G) a brief description of the status of any foreclosure
proceedings or negotiations with the borrower;
(ix) with respect to any Mortgage Loan liquidated during the related
Prepayment Period (that is, the specified period, generally equal in length
to the time period between Distribution Dates, during which prepayments and
other unscheduled collections on the Mortgage Loans in the related Trust
Fund must be received in order to be distributed on a particular
Distribution Date) in connection with a default thereon or by reason of
being purchased out of the related Trust Fund, (A) the loan number thereof,
(B) the manner in which it was liquidated, (C) the aggregate amount of
Liquidation Proceeds received, (D) the portion of such Liquidation Proceeds
payable or reimbursable to the related Master Servicer or a Special
Servicer in respect of such Mortgage Loan and (E) the amount of any loss to
Certificateholders;
(x) with respect to each Mortgaged Property acquired through
foreclosure, deed-in-lieu of foreclosure or otherwise (an "REO Property")
and included in the related Trust Fund as of the end of the related Due
Period or Prepayment Period, as applicable, (A) the loan number of the
related Mortgage Loan, (B) the date of acquisition, (C) the principal
balance of the related Mortgage Loan (calculated as if such Mortgage Loan
were still outstanding taking into account certain limited modifications to
the terms thereof specified in the related Pooling Agreement), (D) the
aggregate amount of unreimbursed servicing expenses and unreimbursed
advances in respect thereof and (E) if applicable, the aggregate amount of
interest accrued and payable to the related Master Servicer, a Special
Servicer and/or any other entity on related servicing expenses and related
advances;
(xi) with respect to any REO Property sold during the related
Prepayment Period, (A) the loan number of the related Mortgage Loan, (B)
the aggregate amount of sales proceeds, (C) the portion of such sales
proceeds payable or reimbursable to the related Master Servicer or a
Special Servicer in respect of such REO Property or the related Mortgage
Loan and (D) the amount of any loss to Certificateholders in respect of the
related Mortgage Loan;
(xii) the Certificate Balance or Notional Amount, as the case may be,
of each class of Certificates (including any class of Certificates not
offered hereby) at the close of business on such Distribution Date,
separately identifying any reduction in such Certificate Balance due to the
allocation of any losses in respect of the related Mortgage Loans and any
increase in the Certificate Balance of a class of Accrual Certificates in
the event that Accrued Certificate Interest has been added to such balance;
(xiii) the aggregate amount of principal prepayments made on the
Mortgage Loans during the related Prepayment Period;
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(xiv) the amount deposited in or withdrawn from any reserve fund on
such Distribution Date, and the amount remaining on deposit in such reserve
fund as of the close of business on such Distribution Date;
(xv) the amount of any Accrued Certificate Interest due but not paid
on such class of Offered Certificates at the close of business on such
Distribution Date;
(xvi) if such class of Offered Certificates has a variable
Pass-Through Rate or an adjustable Pass-Through Rate, the Pass-Through Rate
applicable thereto for such Distribution Date and, if determinable, for the
next succeeding Distribution Date; and
(xvii) if the related Trust Fund includes one or more instruments of
Credit Support, such as a letter of credit, an insurance policy and/or a
surety bond, the amount of coverage under each such instrument as of the
close of business on such Distribution Date.
In the case of information furnished pursuant to subclauses (i)-(iv) above,
the amounts will be expressed as a dollar amount per minimum denomination of the
relevant class of Offered Certificates or per a specified portion of such
minimum denomination. The Prospectus Supplement for each series of Offered
Certificates will describe any additional information to be included in reports
to the holders of such Certificates.
Within a reasonable period of time after the end of each calendar year, the
related Master Servicer or Trustee, as the case may be, will be required to
furnish to each person who at any time during the calendar year was a holder of
an Offered Certificate a statement containing the information set forth in
subclauses (i)-(iv) above, aggregated for such calendar year or the applicable
portion thereof during which such person was a Certificateholder. Such
obligation will be deemed to have been satisfied to the extent that
substantially comparable information is provided pursuant to any requirements of
the Code as are from time to time in force. See, however, "Description of the
Certificates--Book-Entry Registration and Definitive Certificates."
If the Trust Fund for a series of Certificates includes MBS, the ability of
the related Master Servicer or Trustee, as the case may be, to include in any
Distribution Date Statement information regarding the mortgage loans underlying
such MBS will depend on the reports received with respect to such MBS. In such
cases, the related Prospectus Supplement will describe the loan-specific
information to be included in the Distribution Date Statements that will be
forwarded to the holders of the Offered Certificates of that series in
connection with distributions made to them.
VOTING RIGHTS
The voting rights evidenced by each series of Certificates (as to such
series, the "Voting Rights") will be allocated among the respective classes of
such series in the manner described in the related Prospectus Supplement.
Certificateholders will generally have a right to vote only with respect to
required consents to certain amendments to the related Pooling Agreement and as
otherwise specified in the related Prospectus Supplement. See "Description of
the Pooling Agreements--Amendment." The holders of specified amounts of
Certificates of a particular series will have the collective right to remove the
related Trustee and also to cause the removal of the related Master Servicer in
the case of an Event of Default on the part of the Master Servicer. See
"Description of the Pooling Agreements--Events of Default," "--Rights Upon Event
of Default" and "--Resignation and Removal of the Trustee."
TERMINATION
The obligations created by the Pooling Agreement for each series of
Certificates will terminate upon the payment (or provision for payment) to
Certificateholders of that series of all amounts held in the related Certificate
Account, or otherwise by the related Master Servicer or Trustee or by a Special
Servicer, and required to be paid to such Certificateholders pursuant to such
Pooling Agreement following the earlier of (i) the final payment or other
liquidation of the last Mortgage Asset subject thereto or the disposition of all
property acquired upon foreclosure of any Mortgage Loan subject thereto and (ii)
the purchase of all of the assets of the related Trust Fund by the party
entitled to effect such termination, under the circumstances and in the manner
that will be described in the related Prospectus Supplement. Written notice of
termination of a Pooling Agreement will be given to each Certificateholder of
the related series, and the final distribution will be made only upon
presentation and surrender of the Certificates of such series at the location to
be specified in the notice of termination.
If so specified in the related Prospectus Supplement, a series of
Certificates may be subject to optional early termination through the repurchase
of the assets in the related Trust Fund by a party that will be specified
therein,
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under the circumstances and in the manner set forth therein. If so provided in
the related Prospectus Supplement, upon the reduction of the Certificate Balance
of a specified class or classes of Certificates by a specified percentage or
amount, a party identified therein will be authorized or required to solicit
bids for the purchase of all the assets of the related Trust Fund, or of a
sufficient portion of such assets to retire such class or classes, under the
circumstances and in the manner set forth therein. In any event, unless
otherwise disclosed in the applicable Prospectus Supplement, any such repurchase
or purchase shall be at a price or prices that are generally based upon the
unpaid principal balance of, plus accrued interest on, all Mortgage Loans (other
than Mortgage Loans secured by REO Properties) then included in a Trust Fund and
the fair market value of all REO Properties then included in the Trust Fund,
which may or may not result in full payment of the aggregate Certificate Balance
plus accrued interest and any undistributed shortfall in interest for the then
outstanding Certificates. Any sale of Trust Fund assets will be without recourse
to the Trust and/or Certificateholders, provided, however, that there can be no
assurance that in all events a court would accept such a contractual
stipulation.
BOOK-ENTRY REGISTRATION AND DEFINITIVE CERTIFICATES
If so provided in the related Prospectus Supplement, one or more classes of
the Offered Certificates of any series will be offered in book-entry format
through the facilities of The Depository Trust Company ("DTC"), and each such
class will be represented by one or more global Certificates registered in the
name of DTC or its nominee.
DTC is a limited-purpose trust company organized under the New York Banking
Law, a "banking corporation" within the meaning of the New York Banking Law, a
member of the Federal Reserve System, a "clearing corporation" within the
meaning of the New York Uniform Commercial Code, and a "clearing agency"
registered pursuant to the provisions of Section 17A of the Exchange Act. DTC
was created to hold securities for its participating organizations
("Participants") and facilitate the clearance and settlement of securities
transactions between Participants through electronic computerized book-entry
changes in their accounts, thereby eliminating the need for physical movement of
securities certificates. "Direct Participants," which maintain accounts with
DTC, include securities brokers and dealers (including Merrill Lynch, Pierce,
Fenner & Smith Incorporated), banks, trust companies and clearing corporations
and may include certain other organizations. DTC is owned by a number of its
Direct Participants and by the New York Stock Exchange, Inc., the American Stock
Exchange, Inc., and the National Association of Securities Dealers, Inc. Access
to the DTC system also is available to others such as banks, brokers, dealers
and trust companies that clear through or maintain a custodial relationship with
a Direct Participant, either directly or indirectly ("Indirect Participants").
The Rules applicable to DTC and its Participants are on file with the
Commission.
Purchases of Book-Entry Certificates under the DTC system must be made by
or through Direct Participants, which will receive a credit for the Book-Entry
Certificates on DTC's records. The ownership interest of each actual purchaser
of a Book-Entry Certificate (a "Certificate Owner") will in turn be recorded on
the records of Direct and Indirect Participants. Certificate Owners will not
receive written confirmation from DTC of their purchases, but Certificate Owners
are expected to receive written confirmations providing details of such
transactions, as well as periodic statements of their holdings, from the Direct
or Indirect Participant through which each Certificate Owner entered into the
transaction. Transfers of ownership interest in the Book-Entry Certificates will
be accomplished by entries made on the books of Participants acting on behalf of
Certificate Owners. Certificate Owners will not receive certificates
representing their ownership interests in the Book-Entry Certificates, except in
the event that use of the book-entry system for the Book-Entry Certificates of
any series is discontinued as described below.
DTC will not know the identity of actual Certificate Owners of the
Book-Entry Certificates; DTC's records reflect only the identity of the Direct
Participants to whose accounts such Certificates are credited. The Participants
will remain responsible for keeping account of their holdings on behalf of their
customers. Notices and other communications conveyed by DTC to Direct
Participants, by Direct Participants to Indirect Participants, and by Direct
Participants and Indirect Participants to Certificate Owners will be governed by
arrangements among them, subject to any statutory or regulatory requirements as
may be in effect from time to time.
Distributions on the Book-Entry Certificates will be made to DTC. DTC's
practice is to credit "Direct Participants" accounts on the related Distribution
Date in accordance with their respective holdings shown on DTC's records unless
DTC has reason to believe that it will not receive payment on such date.
Disbursement of such distributions by Participants to Certificate Owners will be
governed by standing instructions and customary practices, as is the case with
securities held for the accounts of customers in bearer form or registered in
"street name," and will be the responsibility of each such Participant (and not
of DTC, the Depositor or any Trustee or Master Servicer),
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subject to any statutory or regulatory requirements as may be in effect from
time to time. Under a book-entry system, Certificate Owners may receive payments
after the related Distribution Date.
As may be provided in the related Prospectus Supplement, the only
"Certificateholder" (as such term is used in the related Pooling Agreement) of a
Book-Entry Certificate will be the nominee of DTC, and the Certificate Owners
will not be recognized as Certificateholders under the Pooling Agreement.
Certificate Owners will be permitted to exercise the rights of
Certificateholders under the related Pooling Agreement only indirectly through
the Participants who in turn will exercise their rights through DTC. The
Depositor is informed that DTC will take action permitted to be taken by a
Certificateholder under a Pooling Agreement only at the direction of one or more
Participants to whose account with DTC interests in the Book-Entry Certificates
are credited.
Because DTC can act only on behalf of Participants, who in turn act on
behalf of Indirect Participants and certain Certificate Owners, the ability of a
Certificate Owner to pledge its interest in Book-Entry Certificates to persons
or entities that do not participate in the DTC system, or otherwise take actions
in respect of its interest in Book-Entry Certificates, may be limited due to the
lack of a physical certificate evidencing such interest.
As may be specified in the related Prospectus Supplement, Certificates
initially issued in book-entry form will be issued in fully registered,
certificated form (as so issued, "Definitive Certificates") to Certificate
Owners or their nominees, rather than to DTC or its nominee, only if (i) the
Depositor advises the Trustee in writing that DTC is no longer willing or able
to properly discharge its responsibilities as depository with respect to such
Certificates and the Depositor is unable to locate a qualified successor or (ii)
the Depositor, at its option, elects to terminate the book-entry system through
DTC with respect to such Certificates. Upon the occurrence of either of the
events described in the preceding sentence, DTC will be required to notify all
Participants of the availability through DTC of Definitive Certificates. Upon
surrender by DTC of the certificate or certificates representing a class of
Book-Entry Certificates, together with instructions for reregistration, the
Trustee or other designated party will be required to issue to the Certificate
Owners identified in such instructions the Definitive Certificates to which they
are entitled, and thereafter the holders of such Definitive Certificates will be
recognized as Certificateholders under the related Pooling Agreement.
DESCRIPTION OF THE POOLING AGREEMENTS
GENERAL
The Certificates of each series will be issued pursuant to a pooling and
servicing agreement or other agreement specified in the related Prospectus
Supplement (in either case, a "Pooling Agreement"). In general, the parties to a
Pooling Agreement will include the Depositor, the Trustee, the Master Servicer
and, in some cases, a Special Servicer appointed as of the date of the Pooling
Agreement. However, a Pooling Agreement that relates to a Trust Fund that
consists solely of MBS may not include a Master Servicer or other servicer as a
party. All parties to each Pooling Agreement under which Certificates of a
series are issued will be identified in the related Prospectus Supplement.
A form of a Pooling and Servicing Agreement has been filed as an exhibit to
the Registration Statement of which this Prospectus is a part. However, the
provisions of each Pooling Agreement will vary depending upon the nature of the
Certificates to be issued thereunder and the nature of the related Trust Fund.
The following summaries describe certain provisions that may appear in a Pooling
Agreement under which Certificates that evidence interests in Mortgage Loans
will be issued. The Prospectus Supplement for a series of Certificates will
describe any provision of the related Pooling Agreement that materially differs
from the description thereof contained in this Prospectus and, if the related
Trust Fund includes MBS, will summarize all of the material provisions of the
related Pooling Agreement. The summaries herein do not purport to be complete
and are subject to, and are qualified in their entirety by reference to, all of
the provisions of the Pooling Agreement for each series of Certificates and the
description of such provisions in the related Prospectus Supplement. As used
herein with respect to any series, the term "Certificate" refers to all of the
Certificates of that series, whether or not offered hereby and by the related
Prospectus Supplement, unless the context otherwise requires. The Depositor will
provide a copy of the Pooling Agreement (without exhibits) that relates to any
series of Certificates without charge upon written request of a holder of a
Certificate of such series addressed to Merrill Lynch Mortgage Investors, Inc.,
World Financial Center, North Tower-Fifteenth Floor, 250 Vesey Street, New York,
New York 10281-1315. Attention: Secretary.
ASSIGNMENT OF MORTGAGE LOANS; REPURCHASES
As set forth in the related Prospectus Supplement, generally at the time of
issuance of any series of Certificates, the Depositor will assign (or cause to
be assigned) to the designated Trustee the Mortgage Loans to be included in the
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related Trust Fund, together with, all principal and interest to be received on
or with respect to such Mortgage Loans after the Cut-off Date, other than
principal and interest due on or before the Cut-off Date. The Trustee will,
concurrently with such assignment, deliver the Certificates to or at the
direction of the Depositor in exchange for the Mortgage Loans and the other
assets to be included in the Trust Fund for such series. Each Mortgage Loan will
be identified in a schedule appearing as an exhibit to the related Pooling
Agreement. Such schedule generally will include detailed information that
pertains to each Mortgage Loan included in the related Trust Fund, which
information will typically include the address of the related Mortgaged Property
and type of such property; the Mortgage Rate and, if applicable, the applicable
index, gross margin, adjustment date and any rate cap information; the original
and remaining term to maturity; the original amortization term; the original and
outstanding principal balance; and the Loan-to-Value Ratio and Debt Service
Coverage Ratio as of the date indicated.
With respect to each Mortgage Loan to be included in a Trust Fund, the
Depositor will deliver (or cause to be delivered) to the related Trustee (or to
a custodian appointed by the Trustee) certain loan documents which, will include
the original Mortgage Note endorsed, without recourse, to the order of the
Trustee, the original Mortgage (or a certified copy thereof) with evidence of
recording indicated thereon and an assignment of the Mortgage to the Trustee in
recordable form. The related Pooling Agreement will require that the Depositor
or other party thereto promptly cause each such assignment of Mortgage to be
recorded in the appropriate public office for real property records.
The related Trustee (or the custodian appointed by the Trustee) will be
required to review the Mortgage Loan documents within a specified period of days
after receipt thereof, and the Trustee (or the custodian) will hold such
documents in trust for the benefit of the Certificateholders of the related
series. Unless otherwise specified in the related Prospectus Supplement, if any
such document is found to be missing or defective, in either case such that
interests of the Certificateholders are materially and adversely affected, the
Trustee (or such custodian) will be required to notify the Master Servicer and
the Depositor, and the Master Servicer will be required to notify the relevant
Mortgage Asset Seller. In that case, and if the Mortgage Asset Seller cannot
deliver the document or cure the defect within a specified number of days after
receipt of such notice, then unless otherwise specified in the related
Prospectus Supplement, the Mortgage Asset Seller will be obligated to replace
the related Mortgage Loan or repurchase it from the Trustee at a price that will
be specified in the related Prospectus Supplement.
REPRESENTATIONS AND WARRANTIES; REPURCHASES
TheDepositor will, with respect to each Mortgage Loan in the related Trust
Fund, make or assign certain representations and warranties, (the person making
such representations and warranties, the "Warranting Party") covering, by way of
example: (i) the accuracy of the information set forth for such Mortgage Loan on
the schedule of Mortgage Loans appearing as an exhibit to the related Pooling
Agreement; (ii) the enforceability of the related Mortgage Note and Mortgage and
the existence of title insurance insuring the lien priority of the related
Mortgage; (iii) the Warranting Party's title to the Mortgage Loan and the
authority of the Warranting Party to sell the Mortgage Loan; and (iv) the
payment status of the Mortgage Loan. Each Warranting Party will be identified in
the related Prospectus Supplement.
Each Pooling Agreement will provide that the Master Servicer and/or Trustee
will be required to notify promptly any Warranting Party of any breach of any
representation or warranty made by it in respect of a Mortgage Loan that
materially and adversely affects the interests of the related
Certificateholders. If such Warranting Party cannot cure such breach within a
specified period following the date on which it was notified of such breach,
then, unless otherwise provided in the related Prospectus Supplement, it will be
obligated to repurchase such Mortgage Loan from the Trustee within a specified
period at a price that will be specified in the related Prospectus Supplement.
If so provided in the Prospectus Supplement for a series of Certificates, a
Warranting Party, in lieu of repurchasing a Mortgage Loan as to which a breach
has occurred, will have the option, exercisable upon certain conditions and/or
within a specified period after initial issuance of such series of Certificates,
to replace such Mortgage Loan with one or more other mortgage loans, in
accordance with standards that will be described in the Prospectus Supplement.
This repurchase or substitution obligation may constitute the sole remedy
available to holders of Certificates of any series for a breach of
representation and warranty by a Warranting Party. Moreover, neither the
Depositor (unless it is the Warranting Party) nor the Master Servicer will be
obligated to purchase or replace a Mortgage Loan if a Warranting Party defaults
on its obligation to do so.
The dates as of which representations and warranties have been made by a
Warranting Party will be specified in the related Prospectus Supplement. In some
cases, such representations and warranties will have been made as of a
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date prior to the date upon which the related series of Certificates is issued,
and thus may not address events that may occur following the date as of which
they were made. However, the Depositor will not include any Mortgage Loan in the
Trust Fund for any series of Certificates if anything has come to the
Depositor's attention that would cause it to believe that the representations
and warranties made in respect of such Mortgage Loan will not be accurate in all
material respects as of such date of issuance.
CERTIFICATE ACCOUNT
General. The Master Servicer and/or the Trustee will, as to each Trust
Fund, establish and maintain or cause to be established and maintained one or
more separate accounts for the collection of payments on the related Mortgage
Loans (collectively, the "Certificate Account"), which will be established so as
to comply with the standards of each Rating Agency that has rated any one or
more classes of Certificates of the related series. As described in the related
Prospectus Supplement, a Certificate Account may be maintained either as an
interest-bearing or a non-interest-bearing account, and the funds held therein
may be held as cash or invested in United States government securities and other
investment grade obligations specified in the related Pooling Agreement
("Permitted Investments"). Any interest or other income earned on funds in the
Certificate Account will be paid to the related Master Servicer or Trustee as
additional compensation. If permitted by such Rating Agency or Agencies and so
specified in the related Prospectus Supplement, a Certificate Account may
contain funds relating to more than one series of mortgage pass-through
certificates and may contain other funds representing payments on mortgage loans
owned by the related Master Servicer or serviced by it on behalf of others.
Deposits. Unless otherwise provided in the related Pooling Agreement and
described in the related Prospectus Supplement, the related Master Servicer,
Trustee or Special Servicer will be required to deposit or cause to be deposited
in the Certificate Account for each Trust Fund within a certain period following
receipt (in the case of collections and payments), the following payments and
collections received, or advances made, by the Master Servicer, the Trustee or
any Special Servicer subsequent to the Cut-off Date (other than payments due on
or before the Cut-off Date):
(i) all payments on account of principal, including principal
prepayments, on the Mortgage Loans;
(ii) all payments on account of interest on the Mortgage Loans,
including any default interest collected, in each case net of any portion
thereof retained by the Master Servicer, any Special Servicer or
Sub-Servicer as its servicing compensation or as compensation to the
Trustee;
(iii) all proceeds received under any hazard, title or other insurance
policy that provides coverage with respect to a Mortgaged Property or the
related Mortgage Loan (other than proceeds applied to the restoration of
the property or released to the related borrower in accordance with the
customary servicing practices of the Master Servicer (or, if applicable, a
Special Servicer) and/or the terms and conditions of the related Mortgage
(collectively, "Insurance Proceeds") and all other amounts received and
retained in connection with the liquidation of defaulted Mortgage Loans or
property acquired in respect thereof, by foreclosure or otherwise
("Liquidation Proceeds"), together with the net operating income (less
reasonable reserves for future expenses) derived from the operation of any
Mortgaged Properties acquired by the Trust Fund through foreclosure or
otherwise;
(iv) any amounts paid under any instrument or drawn from any fund that
constitutes Credit Support for the related series of Certificates as
described under "Description of Credit Support";
(v) any advances made as described under "Description of the
Certificates--Advances in Respect of Delinquencies";
(vi) any amounts paid under any Cash Flow Agreement, as described
under "Description of the Trust Funds--Cash Flow Agreements";
(vii) all proceeds of the purchase of any Mortgage Loan, or property
acquired in respect thereof, by the Depositor, any Mortgage Asset Seller or
any other specified person as described under "--Assignment of Mortgage
Loans; Repurchases" and "--Representations and Warranties; Repurchases,"
all proceeds of the purchase of any defaulted Mortgage Loan as described
under "--Realization Upon Defaulted Mortgage Loans," and all proceeds of
any Mortgage Asset purchased as described under "Description of the
Certificates--Termination" (all of the foregoing, also, "Liquidation
Proceeds");
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(viii) any amounts paid by the Master Servicer to cover Prepayment
Interest Shortfalls arising out of the prepayment of Mortgage Loans as
described under "--Servicing Compensation and Payment of Expenses";
(ix) to the extent that any such item does not constitute additional
servicing compensation to the Master Servicer or a Special Servicer, any
payments on account of modification or assumption fees, late payment
charges, Prepayment Premiums or Equity Participations on the Mortgage
Loans;
(x) all payments required to be deposited in the Certificate Account
with respect to any deductible clause in any blanket insurance policy
described under "--Hazard Insurance Policies";
(xi) any amount required to be deposited by the Master Servicer or the
Trustee in connection with losses realized on investments for the benefit
of the Master Servicer or the Trustee, as the case may be, of funds held in
the Certificate Account; and
(xii) any other amounts required to be deposited in the Certificate
Account as provided in the related Pooling Agreement and described in the
related Prospectus Supplement.
Withdrawals. Unless otherwise provided in the related Pooling Agreement and
described in the related Prospectus Supplement, a Master Servicer, Trustee or
Special Servicer may make withdrawals from the Certificate Account for each
Trust Fund for any of the following purposes:
(i) to make distributions to the Certificateholders on each
Distribution Date;
(ii) to reimburse the Master Servicer or any other specified person
for unreimbursed amounts advanced by it as described under "Description of
the Certificates--Advances in Respect of Delinquencies," such reimbursement
to be made out of amounts received which were identified and applied by the
Master Servicer as late collections of interest (net of related servicing
fees) on and principal of the particular Mortgage Loans with respect to
which the advances were made or out of amounts drawn under any form of
Credit Support with respect to such Mortgage Loans;
(iii) to reimburse the Master Servicer or a Special Servicer for
unpaid servicing fees earned by it and certain unreimbursed servicing
expenses incurred by it with respect to Mortgage Loans in the Trust Fund
and properties acquired in respect thereof, such reimbursement to be made
out of amounts that represent Liquidation Proceeds and Insurance Proceeds
collected on the particular Mortgage Loans and properties, and net income
collected on the particular properties, with respect to which such fees
were earned or such expenses were incurred or out of amounts drawn under
any form of Credit Support with respect to such Mortgage Loans and
properties;
(iv) to reimburse the Master Servicer or any other specified person
for any advances described in clause (ii) above made by it and any
servicing expenses referred to in clause (iii) above incurred by it which,
in the good faith judgment of the Master Servicer or such other person,
will not be recoverable from the amounts described in clauses (ii) and
(iii), respectively, such reimbursement to be made from amounts collected
on other Mortgage Loans in the related Trust Fund or, if and to the extent
so provided by the related Pooling Agreement and described in the related
Prospectus Supplement, only from that portion of amounts collected on such
other Mortgage Loans that is otherwise distributable on one or more classes
of Subordinate Certificates of the related series;
(v) if and to the extent described in the related Prospectus
Supplement, to pay the Master Servicer, a Special Servicer or another
specified entity (including a provider of Credit Support) interest accrued
on the advances described in clause (ii) above made by it and the servicing
expenses described in clause (iii) above incurred by it while such remain
outstanding and unreimbursed;
(vi) to pay for costs and expenses incurred by the Trust Fund for
environmental site assessments performed with respect to Mortgaged
Properties that constitute security for defaulted Mortgage Loans, and for
any containment, clean-up or remediation of hazardous wastes and materials
present on such Mortgaged Properties, as described under "--Realization
Upon Defaulted Mortgage Loans";
(vii) to reimburse the Master Servicer, the Depositor, or any of their
respective directors, officers, employees and agents, as the case may be,
for certain expenses, costs and liabilities incurred thereby, as and to the
extent described under "--Certain Matters Regarding the Master Servicer and
the Depositor";
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(viii) if and to the extent described in the related Prospectus
Supplement, to pay the fees of the Trustee;
(ix) to reimburse the Trustee or any of its directors, officers,
employees and agents, as the case may be, for certain expenses, costs and
liabilities incurred thereby, as and to the extent described under
"--Certain Matters Regarding the Trustee";
(x) to pay the Master Servicer or the Trustee, as additional
compensation, interest and investment income earned in respect of amounts
held in the Certificate Account;
(xi) to pay (generally from related income) for costs incurred in
connection with the operation, management and maintenance of any Mortgaged
Property acquired by the Trust Fund by foreclosure or otherwise;
(xii) if one or more elections have been made to treat the Trust Fund
or designated portions thereof as a REMIC, to pay any federal, state or
local taxes imposed on the Trust Fund or its assets or transactions, as and
to the extent described under "Material Federal Income Tax
Consequences--REMICS--Prohibited Transactions Tax and Other Taxes";
(xiii) to pay for the cost of an independent appraiser or other expert
in real estate matters retained to determine a fair sale price for a
defaulted Mortgage Loan or a property acquired in respect thereof in
connection with the liquidation of such Mortgage Loan or property;
(xiv) to pay for the cost of various opinions of counsel obtained
pursuant to the related Pooling Agreement for the benefit of
Certificateholders;
(xv) to make any other withdrawals permitted by the related Pooling
Agreement and described in the related Prospectus Supplement; and
(xvi) to clear and terminate the Certificate Account upon the
termination of the Trust Fund.
COLLECTION AND OTHER SERVICING PROCEDURES
The Master Servicer for any mortgage pool, directly or through
Sub-Servicers, will be required to make reasonable efforts to collect all
scheduled Mortgage Loan payments and will be required to follow such collection
procedures as it would follow with respect to mortgage loans that are comparable
to such Mortgage Loans and held for its own account, provided such procedures
are consistent with (i) the terms of the related Pooling Agreement and any
related instrument of Credit Support included in the related Trust Fund, (ii)
applicable law and (iii) the servicing standard specified in the Pooling
Agreement and in the related Prospectus Supplement (the "Servicing Standard").
The Master Servicer will also be required to perform other customary
functions of a servicer of comparable loans, including maintaining escrow or
impound accounts for payment of taxes, insurance premiums and similar items, or
otherwise monitoring the timely payment of those items; attempting to collect
delinquent payments; supervising foreclosures; conducting property inspections
on a periodic or other basis; managing Mortgaged Properties acquired through or
in lieu of foreclosure (each, an "REO Property"); and maintaining servicing
records relating to the Mortgage Loans. Generally, the Master Servicer will be
responsible for filing and settling claims in respect of particular Mortgage
Loans under any applicable instrument of Credit Support. See "Description of
Credit Support." MODIFICATIONS, WAIVERS AND AMENDMENTS OF MORTGAGE LOANS
A Master Servicer may agree to modify, waive or amend any term of any
Mortgage Loan serviced by it in a manner consistent with the Servicing Standard;
provided that, the modification, waiver or amendment will not (i) affect the
amount or timing of any scheduled payments of principal or interest on the
Mortgage Loan or (ii) in the judgment of the Master Servicer, materially impair
the security for the Mortgage Loan or reduce the likelihood of timely payment of
amounts due thereon. A Master Servicer also may agree to any other modification,
waiver or amendment if, in its judgment (i) a material default on the Mortgage
Loan has occurred or a payment default is imminent and (ii) such modification,
waiver or amendment is reasonably likely to produce a greater recovery with
respect to the Mortgage Loan on a present value basis than would liquidation.
SUB-SERVICERS
A Master Servicer may delegate its servicing obligations in respect of the
Mortgage Loans serviced by it to one or more third-party servicers (each, a
"Sub-Servicer"), but the Master Servicer will remain liable for such obligations
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under the related Pooling Agreement unless otherwise provided in the related
Prospectus Supplement. Unless otherwise provided in the related Prospectus
Supplement, each sub-servicing agreement between a Master Servicer and a
Sub-Servicer (a "Sub-Servicing Agreement") must provide that, if for any reason
the Master Servicer is no longer acting in such capacity, the Trustee or any
successor Master Servicer may assume the Master Servicer's rights and
obligations under such Sub-Servicing Agreement.
Generally, the Master Servicer will be solely liable for all fees owed by
it to any Sub-Servicer, irrespective of whether the Master Servicer's
compensation pursuant to the related Pooling Agreement is sufficient to pay such
fees. Each Sub-Servicer will be reimbursed by the Master Servicer for certain
expenditures which it makes, generally to the same extent the Master Servicer
would be reimbursed under a Pooling Agreement. See "--Certificate Account" and
"--Servicing Compensation and Payment of Expenses."
SPECIAL SERVICERS
If and to the extent specified in the related Prospectus Supplement, a
special servicer (the "Special Servicer") may be a party to the related Pooling
Agreement or may be appointed by the Master Servicer or another specified party
to perform certain specified duties (for example, the servicing of defaulted
Mortgage Loans) in respect of the servicing of the related Mortgage Loans. The
Master Servicer will be liable for the performance of a Special Servicer only
if, and to the extent, set forth in such Prospectus Supplement.
REALIZATION UPON DEFAULTED MORTGAGE LOANS
A borrower's failure to make required Mortgage Loan payments may mean that
operating income is insufficient to service the mortgage debt, or may reflect
the diversion of that income from the servicing of the mortgage debt. In
addition, a borrower that is unable to make Mortgage Loan payments may also be
unable to make timely payment of taxes and to otherwise maintain and insure the
related Mortgaged Property. In general, the related Master Servicer will be
required to monitor any Mortgage Loan that is in default, evaluate whether the
causes of the default can be corrected over a reasonable period without
significant impairment of the value of the related Mortgaged Property, initiate
corrective action in cooperation with the borrower if cure is likely, inspect
the related Mortgaged Property and take such other actions as are consistent
with the Servicing Standard. A significant period of time may elapse before the
Master Servicer is able to assess the success of any such corrective action or
the need for additional initiatives.
The time within which the Master Servicer can make the initial
determination of appropriate action, evaluate the success of corrective action,
develop additional initiatives, institute foreclosure proceedings and actually
foreclose (or accept a deed to a Mortgaged Property in lieu of foreclosure) on
behalf of the Certificateholders may vary considerably depending on the
particular Mortgage Loan, the Mortgaged Property, the borrower, the presence of
an acceptable party to assume the Mortgage Loan and the laws of the jurisdiction
in which the Mortgaged Property is located. If a borrower files a bankruptcy
petition, the Master Servicer may not be permitted to accelerate the maturity of
the related Mortgage Loan or to foreclose on the Mortgaged Property for a
considerable period of time. See "Certain Legal Aspects of Mortgage Loans."
A Pooling Agreement may grant to the Master Servicer, a Special Servicer, a
provider of Credit Support and/or the holder or holders of certain classes of
Certificates of the related series a right of first refusal to purchase from the
Trust Fund, at a predetermined purchase price (which, if insufficient to fully
fund the entitlements of Certificateholders to principal and interest thereon,
will be specified in the related Prospectus Supplement), any Mortgage Loan as to
which a specified number of scheduled payments are delinquent. In addition,
unless otherwise specified in the related Prospectus Supplement, the Master
Servicer may offer to sell any defaulted Mortgage Loan if and when the Master
Servicer determines, consistent with the Servicing Standard, that such a sale
would produce a greater recovery on a present value basis than would liquidation
of the related Mortgaged Property. Generally, the related Pooling Agreement will
require that the Master Servicer accept the highest cash bid received from any
person (including itself, an affiliate of the Master Servicer or any
Certificateholder) that constitutes a fair price for such defaulted Mortgage
Loan. In the absence of any bid determined in accordance with the related
Pooling Agreement to be fair, the Master Servicer will generally be required to
proceed with respect to such defaulted Mortgage Loan as described below.
If a default on a Mortgage Loan has occurred or, in the Master Servicer's
judgment, is imminent, the Master Servicer, on behalf of the Trustee, may at any
time institute foreclosure proceedings, exercise any power of sale
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contained in the related Mortgage, obtain a deed in lieu of foreclosure, or
otherwise acquire title to the related Mortgaged Property, by operation of law
or otherwise, if such action is consistent with the Servicing Standard. The
Master Servicer may not, however, acquire title to any Mortgaged Property or
take any other action that would cause the Trustee, for the benefit of
Certificateholders of the related series, or any other specified person to be
considered to hold title to, to be a "mortgagee-in-possession" of, or to be an
"owner" or an "operator" of such Mortgaged Property within the meaning of
certain federal environmental laws, unless the Master Servicer has previously
determined, based on a report prepared by a person who regularly conducts
environmental audits (which report will be an expense of the Trust Fund), that:
(i) either the Mortgaged Property is in compliance with applicable
environmental laws and regulations or, if not, that taking such actions as
are necessary to bring the Mortgaged Property into compliance therewith is
reasonably likely to produce a greater recovery on a present value basis
than not taking such actions; and
(ii) either there are no circumstances or conditions present at the
Mortgaged Property that have resulted in any contamination for which
investigation, testing, monitoring, containment, clean-up or remediation
could be required under any applicable environmental laws and regulations
or, if such circumstances or conditions are present for which any such
action could be required, taking such actions with respect to the Mortgaged
Property is reasonably likely to produce a greater recovery on a present
value basis than not taking such actions. See "Certain Legal Aspects of
Mortgage Loans--Environmental Considerations."
If title to any Mortgaged Property is acquired by a Trust Fund as to which
a REMIC election has been made, the Master Servicer, on behalf of the Trust
Fund, will be required to sell the Mortgaged Property within two years of
acquisition, unless (i) the Internal Revenue Service grants an extension of time
to sell such property or (ii) the Trustee receives an opinion of independent
counsel to the effect that the holding of the property by the Trust Fund for
more than two years after its acquisition will not result in the imposition of a
tax on the Trust Fund or cause the Trust Fund to fail to qualify as a REMIC
under the Code at any time that any Certificate is outstanding. Subject to the
foregoing, the Master Servicer will generally be required to solicit bids for
any Mortgaged Property so acquired in such a manner as will be reasonably likely
to realize a fair price for such property. If the Trust Fund acquires title to
any Mortgaged Property, the Master Servicer, on behalf of the Trust Fund, may
retain an independent contractor to manage and operate such property. The
retention of an independent contractor, however, will not relieve the Master
Servicer of its obligation to manage such Mortgaged Property in a manner
consistent with the Servicing Standard.
If Liquidation Proceeds collected with respect to a defaulted Mortgage Loan
are less than the outstanding principal balance of the defaulted Mortgage Loan
plus interest accrued thereon plus the aggregate amount of reimbursable expenses
incurred by the Master Servicer with respect to such Mortgage Loan, the Trust
Fund will realize a loss in the amount of such difference. The Master Servicer
will be entitled to reimburse itself from the Liquidation Proceeds recovered on
any defaulted Mortgage Loan, prior to the distribution of such Liquidation
Proceeds to Certificateholders, amounts that represent unpaid servicing
compensation in respect of the Mortgage Loan, unreimbursed servicing expenses
incurred with respect to the Mortgage Loan and any unreimbursed advances of
delinquent payments made with respect to the Mortgage Loan.
If any Mortgaged Property suffers damage that the proceeds, if any, of the
related hazard insurance policy are insufficient to fully restore, the Master
Servicer will not be required to expend its own funds to restore the damaged
property unless (and to the extent not otherwise provided in the related
Prospectus Supplement) it determines (i) that such restoration will increase the
proceeds to Certificateholders on liquidation of the Mortgage Loan after
reimbursement of the Master Servicer for its expenses and (ii) that such
expenses will be recoverable by it from related Insurance Proceeds or
Liquidation Proceeds.
HAZARD INSURANCE POLICIES
Each Pooling Agreement may require the related Master Servicer to cause
each Mortgage Loan borrower to maintain a hazard insurance policy that provides
for such coverage as is required under the related Mortgage or, if the Mortgage
permits the holder thereof to dictate to the borrower the insurance coverage to
be maintained on the related Mortgaged Property, such coverage as is consistent
with the requirements of the Servicing Standard. Such coverage generally will be
in an amount equal to the lesser of the principal balance owing on such Mortgage
Loan and the replacement cost of the Mortgaged Property, but in either case not
less than the amount necessary to avoid the application of any co-insurance
clause contained in the hazard insurance policy. The ability of the Master
Servicer to
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assure that hazard insurance proceeds are appropriately applied may be dependent
upon its being named as an additional insured under any hazard insurance policy
and under any other insurance policy referred to below, or upon the extent to
which information concerning covered losses is furnished by borrowers. All
amounts collected by the Master Servicer under any such policy (except for
amounts to be applied to the restoration or repair of the Mortgaged Property or
released to the borrower in accordance with the Master Servicer's normal
servicing procedures and/or to the terms and conditions of the related Mortgage
and Mortgage Note) will be deposited in the related Certificate Account. The
Pooling Agreement may provide that the Master Servicer may satisfy its
obligation to cause each borrower to maintain such a hazard insurance policy by
maintaining a blanket policy insuring against hazard losses on all of the
Mortgage Loans in the related Trust Fund. If such blanket policy contains a
deductible clause, the Master Servicer will be required, in the event of a
casualty covered by such blanket policy, to deposit in the related Certificate
Account all sums that would have been deposited therein but for such deductible
clause.
In general, the standard form of fire and extended coverage policy covers
physical damage to or destruction of the improvements of the property by fire,
lightning, explosion, smoke, windstorm and hail, and riot, strike and civil
commotion, subject to the conditions and exclusions specified in each policy.
Although the policies covering the Mortgaged Properties will be underwritten by
different insurers under different state laws in accordance with different
applicable state forms, and therefore will not contain identical terms and
conditions, most such policies typically do not cover any physical damage
resulting from war, revolution, governmental actions, floods and other
water-related causes, earth movement (including earthquakes, landslides and
mudflows), wet or dry rot, vermin, domestic animals and certain other kinds of
risks.
The hazard insurance policies covering the Mortgaged Properties will
typically contain co-insurance clauses that in effect require an insured at all
times to carry insurance of a specified percentage (generally 80% to 90%) of the
full replacement value of the improvements on the property in order to recover
the full amount of any partial loss. If the insured's coverage falls below this
specified percentage, such clauses generally provide that the insurer's
liability in the event of partial loss does not exceed the lesser of (i) the
replacement cost of the improvements less physical depreciation and (ii) such
proportion of the loss as the amount of insurance carried bears to the specified
percentage of the full replacement cost of such improvements.
DUE-ON-SALE AND DUE-ON-ENCUMBRANCE PROVISIONS
Certain of the Mortgage Loans may contain a due-on-sale clause that
entitles the lender to accelerate payment of the Mortgage Loan upon any sale or
other transfer of the related Mortgaged Property made without the lender's
consent. Certain of the Mortgage Loans may also contain a due-on-encumbrance
clause that entitles the lender to accelerate the maturity of the Mortgage Loan
upon the creation of any other lien or encumbrance upon the Mortgaged Property.
The Master Servicer will determine whether to exercise any right the Trustee may
have under any such provision in a manner consistent with the Servicing
Standard. Unless otherwise specified in the related Prospectus Supplement, the
Master Servicer will be entitled to retain as additional servicing compensation
any fee collected in connection with the permitted transfer of a Mortgaged
Property. See "Certain Legal Aspects of Mortgage Loans--Due-on-Sale and
Due-on-Encumbrance."
SERVICING COMPENSATION AND PAYMENT OF EXPENSES
Generally, a Master Servicer's primary servicing compensation with respect
to a series of Certificates will come from the periodic payment to it of a
portion of the interest payments on each Mortgage Loan in the related Trust
Fund. Since that compensation is generally based on a percentage of the
principal balance of each such Mortgage Loan outstanding from time to time, it
will decrease in accordance with the amortization of the Mortgage Loans. The
Prospectus Supplement with respect to a series of Certificates may provide that,
as additional compensation, the Master Servicer may retain all or a portion of
late payment charges, Prepayment Premiums, modification fees and other fees
collected from borrowers and any interest or other income that may be earned on
funds held in the Certificate Account. Any Sub-Servicer will receive a portion
of the Master Servicer's compensation as its sub-servicing compensation.
In addition to amounts payable to any Sub-Servicer, a Master Servicer may
be required, to the extent provided in the related Prospectus Supplement, to pay
from amounts that represent its servicing compensation certain expenses incurred
in connection with the administration of the related Trust Fund, including,
without limitation, payment of the
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fees and disbursements of independent accountants and payment of expenses
incurred in connection with distributions and reports to Certificateholders.
Certain other expenses, including certain expenses related to Mortgage Loan
defaults and liquidations and, to the extent so provided in the related
Prospectus Supplement, interest on such expenses at the rate specified therein,
and the fees of the Trustee and any Special Servicer, may be required to be
borne by the Trust Fund.
If and to the extent provided in the related Prospectus Supplement, the
Master Servicer may be required to apply a portion of the servicing compensation
otherwise payable to it in respect of any period to Prepayment Interest
Shortfalls. See "Yield and Maturity Considerations--Certain Shortfalls in
Collections of Interest."
EVIDENCE AS TO COMPLIANCE
Each Pooling Agreement may require that, on or before a specified date in
each year, the Master Servicer cause a firm of independent public accountants to
furnish a statement to the Trustee to the effect that, based on an examination
by such firm conducted substantially in compliance with either the Uniform
Single Audit Program for Mortgage Bankers or the Audit Program for Mortgages
serviced for FHLMC, the servicing by or on behalf of the Master Servicer of
mortgage loans under pooling and servicing agreements substantially similar to
each other (which may include the related Pooling Agreement) was conducted
through the preceding calendar year or other specified twelve-month period in
compliance with the terms of such agreements except for any significant
exceptions or errors in records that, in the opinion of such firm, either the
Audit Program for Mortgages serviced for FHLMC or paragraph 4 of the Uniform
Single Audit Program for Mortgage Bankers, as the case may be, requires it to
report. Each Pooling Agreement will also provide for delivery to the Trustee, on
or before a specified date in each year, of a statement signed by one or more
officers of the Master Servicer to the effect that the Master Servicer has
fulfilled its material obligations under the Pooling Agreement throughout the
preceding calendar year or other specified twelve-month period.
Copies of the annual accountants' statement and the statement of officers
of a Master Servicer will be made available to Certificateholders without charge
upon written request to the Master Servicer.
CERTAIN MATTERS REGARDING THE MASTER SERVICER AND THE DEPOSITOR
The Master Servicer under a Pooling Agreement may be an affiliate of the
Depositor and may have other normal business relationships with the Depositor or
the Depositor's affiliates. The related Pooling Agreement may permit the Master
Servicer to resign from its obligations thereunder only upon a determination
that such obligations are no longer permissible under applicable law or are in
material conflict by reason of applicable law with any other activities carried
on by it at the date of the Pooling Agreement. No such resignation will become
effective until the Trustee or a successor servicer has assumed the Master
Servicer's obligations and duties under the Pooling Agreement. The Master
Servicer will also be required to maintain a fidelity bond and errors and
omissions policy that provides coverage against losses that may be sustained as
a result of an officer's or employee's misappropriation of funds, errors and
omissions or negligence, subject to certain limitations as to amount of
coverage, deductible amounts, conditions, exclusions and exceptions.
Each Pooling Agreement may further provide that none of the Master
Servicer, the Depositor and any director, officer, employee or agent of either
of them will be under any liability to the related Trust Fund or
Certificateholders for any action taken, or not taken, in good faith pursuant to
the Pooling Agreement or for errors in judgment; provided, however, that none of
the Master Servicer, the Depositor and any such person will be protected against
any breach of a representation, warranty or covenant made in such Pooling
Agreement, or against any expense or liability that such person is specifically
required to bear pursuant to the terms of such Pooling Agreement, or against any
liability that would otherwise be imposed by reason of willful misfeasance, bad
faith or gross negligence in the performance of obligations or duties thereunder
or by reason of reckless disregard of such obligations and duties. Unless
otherwise specified in the related Prospectus Supplement, each Pooling Agreement
will further provide that the Master Servicer, the Depositor and any director,
officer, employee or agent of either of them will be entitled to indemnification
by the related Trust Fund against any loss, liability or expense incurred in
connection with any legal action that relates to the Pooling Agreement or the
related series of Certificates; provided, however, that such indemnification
will not extend to any loss, liability or expense (i) that such person is
specifically required to bear pursuant to the terms of such agreement, or is
incidental to the performance of obligations and duties thereunder and is not
reimbursable pursuant to the Pooling Agreement; (ii) incurred in connection with
any breach of a representation,
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warranty or covenant made in the Pooling Agreement; (iii) incurred by reason of
misfeasance, bad faith or gross negligence in the performance of obligations or
duties under the Pooling Agreement, or by reason of reckless disregard of such
obligations or duties; or (iv) incurred in connection with any violation of any
state or federal securities law. In addition, each Pooling Agreement will
provide that neither the Master Servicer nor the Depositor will be under any
obligation to appear in, prosecute or defend any legal action that is not
incidental to its respective responsibilities under the Pooling Agreement and
that in its opinion may involve it in any expense or liability. However, each of
the Master Servicer and the Depositor will be permitted, in the exercise of its
discretion, to undertake any such action that it may deem necessary or desirable
with respect to the enforcement and/or protection of the rights and duties of
the parties to the Pooling Agreement and the interests of the Certificateholders
thereunder. In such event, the legal expenses and costs of such action, and any
liability resulting therefrom, will be expenses, costs and liabilities of the
Certificateholders, and the Master Servicer or the Depositor, as the case may
be, will be entitled to charge the related Certificate Account therefor.
Subject, in certain cases, to the satisfaction of certain conditions that
may be required in the Pooling Agreement, any person into which the Master
Servicer or the Depositor may be merged or consolidated, or any person resulting
from any merger or consolidation to which the Master Servicer or the Depositor
is a party, or any person succeeding to the business of the Master Servicer or
the Depositor, will be the successor of the Master Servicer or the Depositor, as
the case may be, under the related Pooling Agreement.
EVENTS OF DEFAULT
The "Events of Default for a series of Certificates" under the related
Pooling Agreement generally will include (i) any failure by the Master Servicer
to distribute or cause to be distributed to Certificateholders, or to remit to
the Trustee for distribution to Certificateholders in a timely manner, any
amount required to be so distributed or remitted, which failure continues
unremedied for five days after written notice of such failure has been given to
the Master Servicer by the Trustee or the Depositor, or to the Master Servicer,
the Depositor and the Trustee by Certificateholders entitled to not less than
25% (or such other percentage specified in the related Prospectus Supplement) of
the Voting Rights for such series); (ii) any failure by the Master Servicer duly
to observe or perform in any material respect any of its other covenants or
obligations under the Pooling Agreement which continues unremedied for sixty
days after written notice of such failure has been given to the Master Servicer
by the Trustee or the Depositor, or to the Master Servicer, the Depositor and
the Trustee by Certificateholders entitled to not less than 25% (or such other
percentage specified in the related Prospectus Supplement) of the Voting Rights
for such series; and (iii) certain events of insolvency, readjustment of debt,
marshalling of assets and liabilities or similar proceedings in respect of or
relating to the Master Servicer and certain actions by or on behalf of the
Master Servicer indicating its insolvency or inability to pay its obligations.
Material variations to the foregoing Events of Default (other than to add
thereto or shorten cure periods or eliminate notice requirements) will be
specified in the related Prospectus Supplement.
RIGHTS UPON EVENT OF DEFAULT
So long as an Event of Default under a Pooling Agreement remains
unremedied, the Depositor or the Trustee will be authorized, and at the
direction of Certificateholders entitled to not less than 51% (or such other
percentage specified in the related Prospectus Supplement) of the Voting Rights
for such series, the Trustee will be required, to terminate all of the rights
and obligations of the Master Servicer as master servicer under the Pooling
Agreement, whereupon the Trustee will succeed to all of the responsibilities,
duties and liabilities of the Master Servicer under the Pooling Agreement
(except that if the Master Servicer is required to make advances in respect of
Mortgage Loan delinquencies, but the Trustee is prohibited by law from
obligating itself to do so, or if the related Prospectus Supplement so
specifies, the Trustee will not be obligated to make such advances) and will be
entitled to similar compensation arrangements. If the Trustee is unwilling or
unable so to act, it may (or, at the written request of Certificateholders
entitled to at least 51% (or such other percentage specified in the related
Prospectus Supplement) of the Voting Rights for such series, it will be required
to) appoint, or petition a court of competent jurisdiction to appoint, a loan
servicing institution that (unless otherwise provided in the related Prospectus
Supplement) is acceptable to each Rating Agency that assigned ratings to the
Offered Certificates of such series to act as successor to the Master Servicer
under the Pooling Agreement. Pending such appointment, the Trustee will be
obligated to act in such capacity.
No Certificateholder will have the right under any Pooling Agreement to
institute any proceeding with respect thereto unless such holder previously has
given to the Trustee written notice of default and unless Certificateholders
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entitled to at least 25% (or such other percentage specified in the related
Prospectus Supplement) of the Voting Rights for the related series shall have
made written request upon the Trustee to institute such proceeding in its own
name as Trustee thereunder and shall have offered to the Trustee reasonable
indemnity, and the Trustee for sixty days (or such other period specified in the
related Prospectus Supplement) shall have neglected or refused to institute any
such proceeding. The Trustee, however, will be under no obligation to exercise
any of the trusts or powers vested in it by any Pooling Agreement or to make any
investigation of matters arising thereunder or to institute, conduct or defend
any litigation thereunder or in relation thereto at the request, order or
direction of any of the holders of Certificates of the related series, unless
such Certificateholders have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities which may be incurred
therein or thereby.
AMENDMENT
Each Pooling Agreement may be amended by the parties thereto, without the
consent of any of the holders of the related Certificates, (i) to cure any
ambiguity, (ii) to correct a defective provision therein or to correct, modify
or supplement any provision therein that may be inconsistent with any other
provision therein, (iii) to add any other provisions with respect to matters or
questions arising under the Pooling Agreement that are not inconsistent with the
provisions thereof, (iv) to comply with any requirements imposed by the Code or
(v) for any other purpose; provided that such amendment (other than an amendment
for the purpose specified in clause (iv) above) may not (as evidenced by an
opinion of counsel to such effect satisfactory to the Trustee) adversely affect
in any material respect the interests of any such holder. Each Pooling Agreement
may also be amended for any purpose by the parties, with the consent of
Certificateholders entitled to at least 51% (or such other percentage specified
in the related Prospectus Supplement) of the Voting Rights for the related
series allocated to the affected classes; provided, however, that, no such
amendment may (i) reduce in any manner the amount of, or delay the timing of,
payments received or advanced on Mortgage Loans that are required to be
distributed in respect of any Certificate without the consent of the holder of
such Certificate, (ii) adversely affect in any material respect the interests of
the holders of any class of Certificates, in a manner other than as described in
clause (i), without the consent of the holders of all Certificates of such class
or (iii) modify the provisions of the Pooling Agreement described in this
paragraph without the consent of the holders of all Certificates of the related
series. However, unless otherwise specified in the related Pooling Agreement,
the Trustee will be prohibited from consenting to any amendment of a Pooling
Agreement pursuant to which a REMIC election is to be or has been made unless
the Trustee shall first have received an opinion of counsel to the effect that
such amendment will not result in the imposition of a tax on the related Trust
Fund or cause the related Trust Fund to fail to qualify as a REMIC at any time
that the related Certificates are outstanding.
LIST OF CERTIFICATEHOLDERS
Upon written request of any Certificateholder of record made for purposes
of communicating with other holders of Certificates of the same series with
respect to their rights under the related Pooling Agreement, the Trustee or
other specified person will afford such Certificateholder access, during normal
business hours, to the most recent list of Certificateholders of that series
then maintained by such person.
THE TRUSTEE
The Trustee under each Pooling Agreement will be named in the related
Prospectus Supplement. The commercial bank, national banking association,
banking corporation or trust company that serves as Trustee may have typical
banking relationships with the Depositor and its affiliates and with any Master
Servicer and its affiliates.
DUTIES OF THE TRUSTEE
The Trustee for a series of Certificates will make no representation as to
the validity or sufficiency of the related Pooling Agreement, the Certificates
or any Mortgage Loan or related document and will not be accountable for the use
or application by or on behalf of any Master Servicer of any funds paid to the
Master Servicer or any Special Servicer in respect of the Certificates or the
Mortgage Loans, or any funds deposited into or withdrawn from the Certificate
Account or any other account by or on behalf of the Master Servicer or any
Special Servicer. If no Event of Default has occurred and is continuing, the
Trustee will be required to perform only those duties specifically required
under the related Pooling Agreement. However, upon receipt of any of the various
certificates, reports or other instruments
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required to be furnished to it pursuant to the Pooling Agreement, the Trustee
will be required to examine such documents and to determine whether they conform
to the requirements of the Pooling Agreement.
CERTAIN MATTERS REGARDING THE TRUSTEE
The Trustee for a series of Certificates may be entitled to
indemnification, from amounts held in the related Certificate Account, for any
loss, liability or expense incurred by the Trustee in connection with the
Trustee's acceptance or administration of its trusts under the related Pooling
Agreement; provided, however, that such indemnification will not extend to any
loss, liability or expense that constitutes a specific liability imposed on the
Trustee pursuant to the Pooling Agreement, or to any loss, liability or expense
incurred by reason of willful misfeasance, bad faith or negligence on the part
of the Trustee in the performance of its obligations and duties thereunder, or
by reason of its reckless disregard of such obligations or duties, or as may
arise from a breach of any representation, warranty or covenant of the Trustee
made therein. As and to the extent described in the related Prospectus
Supplement, the fees and normal disbursements of any Trustee may be the expense
of the related Master Servicer or other specified person or may be required to
be borne by the related Trust Fund.
RESIGNATION AND REMOVAL OF THE TRUSTEE
The Trustee for a series of Certificates will be permitted at any time to
resign from its obligations and duties under the related Pooling Agreement by
giving written notice thereof to the Depositor. Upon receiving such notice of
resignation, the Master Servicer (or such other person as may be specified in
the related Prospectus Supplement) will be required to use reasonable efforts to
promptly appoint a successor trustee. If no successor trustee shall have
accepted an appointment within a specified period after the giving of such
notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction to appoint a successor trustee.
Unless otherwise provided in the related Prospectus Supplement, if at any
time the Trustee ceases to be eligible to continue as such under the related
Pooling Agreement, or if at any time the Trustee becomes incapable of acting, or
if certain events of (or proceedings in respect of) bankruptcy or insolvency
occur with respect to the Trustee, the Depositor will be authorized to remove
the Trustee and appoint a successor trustee. Unless otherwise provided in the
related Prospectus Supplement, in addition, holders of the Certificates of any
series entitled to at least 51% (or such other percentage specified in the
related Prospectus Supplement) of the Voting Rights for such series may at any
time (with or without cause) remove the Trustee and appoint a successor trustee.
Any resignation or removal of the Trustee and appointment of a successor
trustee will not become effective until acceptance of appointment by the
successor trustee.
DESCRIPTION OF CREDIT SUPPORT
GENERAL
Credit Support may be provided with respect to one or more classes of the
Certificates of any series, or with respect to the related Mortgage Assets.
Credit Support may be in the form of a letter of credit, the subordination of
one or more classes of Certificates, the use of a pool insurance policy or
guarantee insurance, the establishment of one or more reserve funds or another
method of Credit Support described in the related Prospectus Supplement, or any
combination of the foregoing. If so provided in the related Prospectus
Supplement, any form of Credit Support may provide credit enhancement for more
than one series of Certificates to the extent described therein.
The Credit Support generally will not provide protection against all risks
of loss and will not guarantee payment to Certificateholders of all amounts to
which they are entitled under the related Pooling Agreement. If losses or
shortfalls occur that exceed the amount covered by the Credit Support or that
are not covered by the Credit Support, Certificateholders will bear their
allocable share of deficiencies. Moreover, if a form of Credit Support covers
more than one series of Certificates, holders of Certificates of one series will
be subject to the risk that such Credit Support will be exhausted by the claims
of the holders of Certificates of one or more other series before the former
receive their intended share of such coverage.
If Credit Support is provided with respect to one or more classes of
Certificates of a series, or with respect to the related Mortgage Assets, the
related Prospectus Supplement will include a description of (i) the nature and
amount
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of coverage under such Credit Support, (ii) any conditions to payment thereunder
not otherwise described herein, (iii) the conditions (if any) under which the
amount of coverage under such Credit Support may be reduced and under which such
Credit Support may be terminated or replaced and (iv) the material provisions
relating to such Credit Support. Additionally, the related Prospectus Supplement
will set forth certain information with respect to the obligor under any
instrument of Credit Support, generally including (i) a brief description of its
principal business activities, (ii) its principal place of business, place of
incorporation and the jurisdiction under which it is chartered or licensed to do
business, (iii) if applicable, the identity of the regulatory agencies that
exercise primary jurisdiction over the conduct of its business and (iv) its
total assets, and its stockholders "equity or policyholders" surplus, if
applicable, as of a date that will be specified in the Prospectus Supplement.
See "Risk Factors--Credit Support Limitations."
SUBORDINATE CERTIFICATES
If so specified in the related Prospectus Supplement, one or more classes
of Certificates of a series may be Subordinate Certificates. To the extent
specified in the related Prospectus Supplement, the rights of the holders of
Subordinate Certificates to receive distributions from the Certificate Account
on any Distribution Date will be subordinated to the corresponding rights of the
holders of Senior Certificates. If so provided in the related Prospectus
Supplement, the subordination of a class may apply only in the event of (or may
be limited to) certain types of losses or shortfalls. The related Prospectus
Supplement will set forth information concerning the amount of subordination
provided by a class or classes of Subordinate Certificates in a series, the
circumstances under which such subordination will be available and the manner in
which the amount of subordination will be made available.
CROSS-SUPPORT PROVISIONS
If the Mortgage Assets in any Trust Fund are divided into separate groups,
each supporting a separate class or classes of Certificates of a series, Credit
Support may be provided by cross-support provisions requiring that distributions
be made on Senior Certificates evidencing interests in one group of Mortgage
Assets prior to distributions on Subordinate Certificates evidencing interests
in a different group of Mortgage Assets within the Trust Fund. The Prospectus
Supplement for a series that includes a cross-support provision will describe
the manner and conditions for applying such provisions.
INSURANCE OR GUARANTEES WITH RESPECT TO MORTGAGE LOANS
If so provided in the Prospectus Supplement for a series of Certificates,
Mortgage Loans included in the related Trust Fund will be covered for certain
default risks by insurance policies or guarantees. To the extent material, a
copy of each such instrument will accompany the Current Report on Form 8-K to be
filed with the Commission within 15 days of issuance of the Certificates of the
related series.
LETTER OF CREDIT
If so provided in the Prospectus Supplement for a series of Certificates,
deficiencies in amounts otherwise payable on such Certificates or certain
classes thereof will be covered by one or more letters of credit, issued by a
bank or financial institution specified in such Prospectus Supplement (the "L/C
Bank"). Under a letter of credit, the L/C Bank will be obligated to honor draws
thereunder in an aggregate fixed dollar amount, net of unreimbursed payments
thereunder, generally equal to a percentage specified in the related Prospectus
Supplement of the aggregate principal balance of the Mortgage Assets on the
related Cut-off Date or of the initial aggregate Certificate Balance of one or
more classes of Certificates. If so specified in the related Prospectus
Supplement, the letter of credit may permit draws only in the event of certain
types of losses and shortfalls. The amount available under the letter of credit
will, in all cases, be reduced to the extent of the unreimbursed payments
thereunder and may otherwise be reduced as described in the related Prospectus
Supplement. The obligations of the L/C Bank under the letter of credit for each
series of Certificates will expire at the earlier of the date specified in the
related Prospectus Supplement or the termination of the Trust Fund. A copy of
any such letter of credit will accompany the Current Report on Form 8-K to be
filed with the Commission within 15 days of issuance of the Certificates of the
related series.
CERTIFICATE INSURANCE AND SURETY BONDS
If so provided in the Prospectus Supplement for a series of Certificates,
deficiencies in amounts otherwise payable on such Certificates or certain
classes thereof will be covered by insurance policies and/or surety bonds
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provided by one or more insurance companies or sureties. Such instruments may
cover, with respect to one or more classes of Certificates of the related
series, timely distributions of interest and/or full distributions of principal
on the basis of a schedule of principal distributions set forth in or determined
in the manner specified in the related Prospectus Supplement. A copy of any such
instrument will accompany the Current Report on Form 8-K to be filed with the
Commission within 15 days of issuance of the Certificates of the related series.
RESERVE FUNDS
If so provided in the Prospectus Supplement for a series of Certificates,
deficiencies in amounts otherwise payable on such Certificates or certain
classes thereof will be covered (to the extent of available funds) by one or
more reserve funds in which cash, a letter of credit, Permitted Investments, a
demand note or a combination thereof will be deposited, in the amounts specified
in such Prospectus Supplement. If so specified in the related Prospectus
Supplement, the reserve fund for a series may also be funded over time by a
specified amount of the collections received on the related Mortgage Assets.
Amounts on deposit in any reserve fund for a series, together with the
reinvestment income thereon, if any, will be applied for the purposes, in the
manner, and to the extent specified in the related Prospectus Supplement. If so
specified in the related Prospectus Supplement, reserve funds may be established
to provide protection only against certain types of losses and shortfalls.
Following each Distribution Date, amounts in a reserve fund in excess of any
amount required to be maintained therein may be released from the reserve fund
under the conditions and to the extent specified in the related Prospectus
Supplement.
If so specified in the related Prospectus Supplement, amounts deposited in
any reserve fund will be invested in Permitted Investments. Unless otherwise
specified in the related Prospectus Supplement, any reinvestment income or other
gain from such investments will be credited to the related reserve fund for such
series, and any loss resulting from such investments will be charged to such
reserve fund. However, such income may be payable to any related Master Servicer
or another service provider as additional compensation for its services. The
reserve fund, if any, for a series will not be a part of the Trust Fund unless
otherwise specified in the related Prospectus Supplement.
CREDIT SUPPORT WITH RESPECT TO MBS
If so provided in the Prospectus Supplement for a series of Certificates,
any MBS included in the related Trust Fund and/or the related underlying
mortgage loans may be covered by one or more of the types of Credit Support
described herein. The related Prospectus Supplement will specify, as to each
such form of Credit Support, the information indicated above with respect
thereto, to the extent such information is material and available.
CERTAIN LEGAL ASPECTS OF MORTGAGE LOANS
The following discussion contains general summaries of certain legal
aspects of loans secured by commercial and multifamily residential properties.
Because such legal aspects are governed by applicable state law (which laws may
differ substantially), the summaries do not purport to be complete, to reflect
the laws of any particular state, or to encompass the laws of all states in
which the security for the Mortgage Loans (or mortgage loans underlying any MBS)
is situated. Accordingly, the summaries are qualified in their entirety by
reference to the applicable laws of those states. See "Description of the Trust
Funds--Mortgage Loans." For purposes of the following discussion, "Mortgage
Loan" includes a mortgage loan underlying an MBS.
GENERAL
Each Mortgage Loan will be evidenced by a note or bond and secured by an
instrument granting a security interest in real property, which may be a
mortgage, deed of trust or a deed to secure debt, depending upon the prevailing
practice and law in the state in which the related Mortgaged Property is
located. Mortgages, deeds of trust and deeds to secure debt are herein
collectively referred to as "mortgage instruments." A mortgage instrument
creates a lien upon, or grants a title interest in, the real property covered
thereby, and represents the security for the repayment of the indebtedness
customarily evidenced by a promissory note. The priority of the lien created or
interest granted will depend on the terms of the mortgage instrument and, in
some cases, on the terms of separate subordination agreements or intercreditor
agreements with others that hold interests in the real property, the knowledge
of the parties to the mortgage instrument as to the existence of prior liens
and, generally, the order of
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recordation of the mortgage instrument in the appropriate public recording
office. However, the lien of a recorded mortgage instrument will generally be
subordinate to later-arising liens for real estate taxes and assessments and
other charges imposed under governmental police powers.
TYPES OF MORTGAGE INSTRUMENTS
There are two parties to a mortgage: a mortgagor (the borrower and usually
the owner of the subject property) and a mortgagee (the lender). In a mortgage,
the mortgagor grants a lien on the subject property in favor of the mortgagee. A
deed of trust is a three-party instrument, among a trustor (the equivalent of a
borrower), a trustee to whom the real property is conveyed, and a beneficiary
(the lender) for whose benefit the conveyance is made. Under a deed of trust,
the trustor grants the property to the trustee, in trust, irrevocably until the
debt is paid, and generally with a power of sale. A deed to secure debt
typically has two parties. The borrower, or grantor, conveys title to the real
property to the grantee, or lender, generally with a power of sale, until such
time as the debt is repaid. In a case where the borrower is a land trust, there
would be an additional party to a mortgage instrument because legal title to the
property is held by a land trustee under a land trust agreement for the benefit
of the borrower. At origination of a mortgage loan involving a land trust, the
borrower generally executes a separate undertaking to make payments on the
mortgage note. The mortgagee's authority under a mortgage, the trustee's
authority under a deed of trust and the grantee's authority under a deed to
secure debt are governed by the express provisions of the related instrument,
the law of the state in which the real property is located, certain federal laws
and, in some deed of trust transactions, the directions of the beneficiary.
LEASES AND RENTS
Mortgage instruments that encumber income-producing property often contain
or are accompanied by an assignment of rents and leases, pursuant to which the
borrower assigns to the lender the borrower's right, title and interest as
landlord under each lease and the income derived therefrom, while (unless rents
are to be paid directly to the lender) retaining a revocable license to collect
the rents for so long as there is no default. If the borrower defaults, the
license terminates and the lender is entitled to collect the rents. Local law
may require that the lender take possession of the property and/or obtain a
court-appointed receiver before becoming entitled to collect the rents.
In most states, hotel and motel room rates are considered accounts
receivable under the Uniform Commercial Code ("UCC"); in cases where hotels or
motels constitute loan security, the rates are generally pledged by the borrower
as additional security for the loan. In general, the lender must file financing
statements in order to perfect its security interest in the rates and must file
continuation statements, generally every five years, to maintain perfection of
such security interest. Even if the lender's security interest in room rates is
perfected under the UCC, it will generally be required to commence a foreclosure
action or otherwise take possession of the property in order to collect the room
rates following a default.
PERSONALTY
In the case of certain types of mortgaged properties, such as hotels,
motels and nursing homes, personal property (to the extent owned by the borrower
and not previously pledged) may constitute a significant portion of the
property's value as security. The creation and enforcement of liens on personal
property are governed by the UCC. Accordingly, if a borrower pledges personal
property as security for a mortgage loan, the lender generally must file UCC
financing statements in order to perfect its security interest therein, and must
file continuation statements, generally every five years, to maintain that
perfection.
JUNIOR MORTGAGES; RIGHTS OF SENIOR LENDERS
Some of the Mortgage Loans included in a Trust Fund may be secured by
mortgage instruments that are subordinate to mortgage instruments held by other
lenders. The rights of the Trust Fund (and therefore the Certificateholders), as
holder of a junior mortgage instrument, are subordinate to those of the senior
lender, including the prior rights of the senior lender to receive rents, hazard
insurance and condemnation proceeds and to cause the Mortgaged Property to be
sold upon borrower's default and thereby extinguish the Trust Fund's junior lien
unless the Master Servicer or Special Servicer asserts its subordinate interest
in a property in a foreclosure litigation or satisfies the defaulted senior
loan. As discussed more fully below, in many states a junior lender may satisfy
a defaulted senior loan in full, adding the amounts expended to the balance due
on the junior loan. Absent a provision in the senior mortgage instrument or in a
subordination or intercreditor agreement, no notice of default is required to be
given to the junior lender.
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The form of the mortgage instrument used by many institutional lenders
confers on the lender the right both to receive all proceeds collected under any
hazard insurance policy and all awards made in connection with any condemnation
proceedings, and (subject to any limits imposed by applicable state law) to
apply such proceeds and awards to any indebtedness secured by the mortgage
instrument in such order as the lender may determine. Thus, if improvements on a
property are damaged or destroyed by fire or other casualty, or if the property
is taken by condemnation, the holder of the senior mortgage instrument will have
the prior right to collect any insurance proceeds payable under a hazard
insurance policy and any award of damages in connection with the condemnation
and to apply the same to the senior indebtedness. Accordingly, only the proceeds
in excess of the amount of senior indebtedness will be available to be applied
to the indebtedness secured by a junior mortgage instrument.
The form of mortgage instrument used by many institutional lenders
typically contains a "future advance" clause, which provides, in general, that
additional amounts advanced to or on behalf of the mortgagor or trustor by the
mortgagee or beneficiary are to be secured by the mortgage instrument. While
such a clause is valid under the laws of most states, the priority of any
advance made under the clause depends, in some states, on whether the advance
was an "obligatory" or an "optional" advance. If the lender is obligated to
advance the additional amounts, the advance may be entitled to receive the same
priority as the amounts advanced at origination, notwithstanding that
intervening junior liens may have been recorded between the date of recording of
the senior mortgage instrument and the date of the future advance, and
notwithstanding that the senior lender had actual knowledge of such intervening
junior liens at the time of the advance. Where the senior lender is not
obligated to advance the additional amounts and has actual knowledge of the
intervening junior liens, the advance may be subordinate to such intervening
junior liens. Priority of advances under a "future advance" clause rests, in
many other states, on state law giving priority to all advances made under the
loan agreement up to a "credit limit" amount stated in the recorded mortgage.
Another provision typically found in the form of mortgage instrument used
by many institutional lenders permits the lender to itself perform certain
obligations of the borrower (for example, the obligations to pay when due all
taxes and assessments on the property and, when due, all encumbrances, charges
and liens on the property that are senior to the lien of the mortgage
instrument, to maintain hazard insurance on the property, and to maintain and
repair the property) upon a failure of the borrower to do so, with all sums so
expended by the lender becoming part of the indebtednesss secured by the
mortgage instrument.
The form of mortgage instrument used by many institutional lenders
typically requires the borrower to obtain the consent of the lender in respect
of actions affecting the mortgaged property, including the execution of certain
new leases and the termination or modification of certain existing leases, the
performance of certain alterations to buildings forming a part of the mortgaged
property and the execution of managment and leasing agreements for the mortgaged
property. Tenants will often refuse to execute leases unless the lender executes
a written agreement with the tenant not to disturb the tenant's possession of
its premises in the event of a foreclosure. A senior lender may refuse to
consent to matters approved by a junior lender, with the result that the value
of the security for the junior mortgage instrument is diminished.
FORECLOSURE
General. Foreclosure is a legal procedure that allows the lender to recover
the borrower's mortgage debt by enforcing its rights and available legal
remedies under the mortgage instrument. If the borrower defaults in payment or
performance of its obligations under the note or mortgage instrument, the lender
has the right to institute foreclosure proceedings to sell the real property at
public auction to satisfy the indebtedness.
Foreclosure Procedures Vary From State to State. Two primary methods of
foreclosing a mortgage instrument are judicial foreclosure, involving court
proceedings, and non-judicial foreclosure pursuant to a power of sale granted in
the mortgage instrument. Other foreclosure procedures are available in some
states, but they are either infrequently used or available only in limited
circumstances. A foreclosure action is subject to most of the delays and
expenses of other lawsuits if defenses are raised or counterclaims are
interposed, and sometimes requires several years to complete.
Judicial Foreclosure. A judicial foreclosure proceeding is conducted in a
court having jurisdiction over the mortgaged property. Generally, the action is
initiated by the service of legal pleadings upon all parties having a
subordinate interest of record in the real property and all parties in
possession of the property, under leases or otherwise, whose interests are
subordinate to the mortgage. Delays in completion of the foreclosure may
occasionally
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result from difficulties in locating defendants. When the lender's right to
foreclose is contested, the legal proceedings can be time-consuming. Upon
successful completion of a judicial foreclosure proceeding, the court generally
issues a judgment of foreclosure and appoints a referee or other officer to
conduct a public sale of the mortgaged property, the proceeds of which are used
to satisfy the judgment. Such sales are made in accordance with procedures that
vary from state to state.
Non-Judicial Foreclosure/Power of Sale. Foreclosure of a deed of trust is
generally accomplished by a non-judicial trustee's sale pursuant to a power of
sale typically granted in the deed of trust. A power of sale may also be
contained in any other type of mortgage instrument (in particular, a deed to
secure debt) if applicable law so permits. A power of sale under a deed of trust
allows a non-judicial public sale to be conducted generally following a request
from the beneficiary/lender to the trustee to sell the property upon default by
the borrower and after notice of sale is given in accordance with the terms of
the deed of trust and applicable state law. In some states, prior to such sale,
the trustee under the deed of trust must record a notice of default and notice
of sale and send a copy to the borrower and to any other party who has recorded
a request for a copy of a notice of default and notice of sale. In addition, in
some states the trustee must provide notice to any other party having an
interest of record in the real property, including junior lienholders. A notice
of sale must be posted in a public place and, in most states, published for a
specified period of time in one or more newspapers. The borrower or junior
lienholder may then have the right, during a reinstatement period required in
some states, to cure the default by paying the entire actual amount in arrears
(without regard to the acceleration of the indebtedness), plus the lender's
expenses incurred in enforcing the obligation. In other states, the borrower or
the junior lienholder is not provided a period to reinstate the loan, but has
only the right to pay off the entire debt to prevent the foreclosure sale.
Generally, state law governs the procedure for public sale, the parties entitled
to notice, the method of giving notice and the applicable time periods.
Limitations on the Rights of Mortgage Lenders. United States courts have
traditionally imposed general equitable principles to limit the remedies
available to lenders in foreclosure actions. These principles are generally
designed to relieve borrowers from the effects of mortgage defaults perceived as
harsh or unfair. Relying on such principles, a court may alter the specific
terms of a loan to the extent it considers necessary to prevent or remedy an
injustice, undue oppression or overreaching, or may require the lender to
undertake affirmative actions to determine the cause of the borrower's default
and the likelihood that the borrower will be able to reinstate the loan. In some
cases, courts have substituted their judgment for the lender's and have required
that lenders reinstate loans or recast payment schedules in order to accommodate
borrowers who are suffering from a temporary financial disability. In other
cases, courts have limited the right of the lender to foreclose in the case of a
non-monetary default, such as a failure to adequately maintain the mortgaged
property or an impermissible further encumbrance of the mortgaged property.
Finally, some courts have addressed the issue of whether federal or state
constitutional provisions reflecting due process concerns for adequate notice
require that a borrower receive notice in addition to statutorily-prescribed
minimum notice. For the most part, these cases have upheld the reasonableness of
the notice provisions or have found that a public sale under a mortgage
instrument providing for a power of sale does not involve sufficient state
action to trigger constitutional protections.
Also, a third party may be unwilling to purchase a mortgaged property at a
public sale because of the difficulty in determining the exact status of title
to the property (due to, among other things, redemption rights that may exist)
and because of the possibility that physical deterioration of the property may
have occurred during the foreclosure proceedings. Potential buyers may also be
reluctant to purchase property at a foreclosure sale as a result of the 1980
decision of the United States Court of Appeals for the Fifth Circuit in Durrett
v. Washington National Insurance Company. The court in Durrett held that even a
non-collusive, regularly conducted foreclosure sale was a fraudulent transfer
under Section 67d of the former Bankruptcy Act (Section 548 of the Bankruptcy
Code, Bankruptcy Reform Act of 1978, as amended, 11 U.S.C. ss.ss. 101-1330 (the
"Bankruptcy Code")) and, therefore, could be rescinded in favor of the
bankrupt's estate, if (i) the foreclosure sale was held while the debtor was
insolvent and not more than one year prior to the filing of the bankruptcy
petition and (ii) the price paid for the foreclosed property did not represent
"fair consideration" ("reasonably equivalent value" under the Bankruptcy Code).
Although the reasoning and result of Durrett were rejected by the United States
Supreme Court in May, 1994, the case could nonetheless be persuasive to a court
applying a state fraudulent conveyance law with provisions similar to those
construed in Durrett. For these reasons, it is common for the lender to purchase
the mortgaged property for an amount equal to the secured indebtedness and
accrued and unpaid interest plus the expenses of foreclosure, in which event the
borrower's debt will be extinguished. Thereafter, subject to the borrower's
right in some states to remain in possession during a redemption period, the
lender will become the owner of the property and have both the benefits and
burdens of
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ownership, including the obligation to pay debt service on any senior mortgage
loans, to pay taxes, to obtain casualty insurance and to make such repairs as
are necessary to render the property suitable for sale. The costs of operating
and maintaining a commercial or multifamily residential property may be
significant and may be greater than the income derived from that property. The
lender also will commonly obtain the services of a real estate broker and pay
the broker's commission in connection with the sale or lease of the property.
Depending upon market conditions, the ultimate proceeds of the sale of the
property may not equal the lender's investment in the property. Moreover,
because of the expenses associated with acquiring, owning and selling a
mortgaged property, a lender could realize an overall loss on a mortgage loan
even if the mortgaged property is sold at foreclosure, or resold after it is
acquired through foreclosure, for an amount equal to the full outstanding
principal amount of the loan plus accrued interest.
The holder of a junior mortgage that forecloses on a mortgaged property
does so subject to senior mortgages and any other prior liens, and may be
obliged to keep senior mortgage loans current in order to avoid foreclosure of
its interest in the property. In addition, if the foreclosure of a junior
mortgage triggers the enforcement of a "due-on-sale" clause contained in a
senior mortgage, the junior mortgagee could be required to pay the full amount
of the senior mortgage indebtedness or face foreclosure.
Rights of Redemption. The purposes of a foreclosure action are to enable
the lender to realize upon its security and to bar the borrower, and all persons
who have interests in the property that are subordinate to that of the
foreclosing lender, from the exercise of their "equity of redemption." The
doctrine of equity of redemption provides that, until the property encumbered by
a mortgage has been sold in accordance with a properly conducted foreclosure and
foreclosure sale, those having interests that are subordinate to that of the
foreclosing lender have an equity of redemption and may redeem the property by
paying the entire debt with interest. Those having an equity of redemption must
generally be made parties and joined in the foreclosure proceeding in order for
their equity of redemption to be terminated.
The equity of redemption is a common-law (non-statutory) right which should
be distinguished from post-sale statutory rights of redemption. In some states,
after sale pursuant to a deed of trust or foreclosure of a mortgage, the
borrower and foreclosed junior lienors are given a statutory period in which to
redeem the property. In some states, statutory redemption may occur only upon
payment of the foreclosure sale price. In other states, redemption may be
permitted if the former borrower pays only a portion of the sums due. The effect
of a statutory right of redemption is to diminish the ability of the lender to
sell the foreclosed property because the exercise of a right of redemption would
defeat the title of any purchaser through a foreclosure. Consequently, the
practical effect of the redemption right is to force the lender to maintain the
property and pay the expenses of ownership until the redemption period has
expired. In some states, a post-sale statutory right of redemption may exist
following a judicial foreclosure, but not following a trustee's sale under a
deed of trust.
Anti-Deficiency Legislation. In general, it is expected that some or all of
the Mortgage Loans in a particular Trust Fund may be nonrecourse loans, as to
which recourse in the case of default will be limited to the Mortgaged Property
and such other assets, if any, that were pledged to secure the Mortgage Loan.
However, even if a Mortgage Loan by its terms provides for recourse to the
borrower's other assets, a lender's ability to realize upon those assets may be
limited by state law. For example, in some states a lender cannot obtain a
deficiency judgment against the borrower following foreclosure or sale under a
deed of trust. A deficiency judgment is a personal judgment against the former
borrower equal to the difference between the net amount realized upon the public
sale of the real property and the amount due to the lender. Other statutes may
require the lender to exhaust the security afforded under a mortgage before
bringing a personal action against the borrower. In certain other states, the
lender has the option of bringing a personal action against the borrower on the
debt without first exhausting such security; however, in some of those states,
the lender, following judgment on such personal action, may be deemed to have
elected a remedy and thus may be precluded from foreclosing upon the security.
Consequently, lenders in those states where such an election of remedy provision
exists will usually proceed first against the security. Finally, other statutory
provisions, designed to protect borrowers from exposure to large deficiency
judgments that might result from bidding at below-market values at the
foreclosure sale, limit any deficiency judgment to the excess of the outstanding
debt over the fair market value of the property at the time of the sale.
Leasehold Considerations. Mortgage loans may be secured by a lien on the
borrower's leasehold interest in a ground lease. Leasehold mortgage loans are
subject to certain risks not associated with mortgage loans secured by a
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lien on the fee estate of the borrower. The most significant of these risks is
that if the borrower's leasehold were to be terminated (for example, as a result
of a lease default or the bankruptcy of the ground lessor or the borrower/ground
lessee), the leasehold mortgagee would be left without its security. This risk
may be substantially lessened if the ground lease contains provisions protective
of the leasehold mortgagee, such as a provision that requires the ground lessor
to give the leasehold mortgagee notices of lessee defaults and an opportunity to
cure them, a provision that permits the leasehold estate to be assigned to and
by the leasehold mortgagee or the purchaser at a foreclosure sale, a provision
that gives the leasehold mortgagee the right to enter into a new ground lease
with the ground lessor on the same terms and conditions as the old ground lease
or a provision that prohibits the ground lessee/borrower from treating the
ground lease as terminated in the event of the ground lessor's bankruptcy and
rejection of the ground lease by the trustee for the debtor/ground lessor.
Certain mortgage loans, however, may be secured by liens on ground leases that
do not contain these provisions.
BANKRUPTCY LAWS
Operation of the Bankruptcy Code and related state laws may interfere with
or affect the ability of a lender to realize upon collateral and/or to enforce a
deficiency judgment. For example, under the Bankruptcy Code, virtually all
actions (including foreclosure actions and deficiency judgment proceedings) to
collect a debt are automatically stayed upon the filing of the bankruptcy
petition and, often, no interest or principal payments are made during the
course of the bankruptcy case. The delay and the consequences thereof caused by
such automatic stay can be significant. Also, under the Bankruptcy Code, the
filing of a petition in bankruptcy by or on behalf of a junior lienor may stay
the senior lender from taking action to foreclose out such junior lien.
Under the Bankruptcy Code, provided certain substantive and procedural
safeguards protective of the lender are met, the amount and terms of a mortgage
loan secured by a lien on property of the debtor may be modified under certain
circumstances. For example, the outstanding amount of the loan may be reduced to
the then-current value of the property (with a corresponding partial reduction
of the amount of lender's security interest) pursuant to a confirmed plan or
lien avoidance proceeding, thus leaving the lender a general unsecured creditor
for the difference between such value and the outstanding balance of the loan.
Other modifications may include the reduction in the amount of each scheduled
payment, by means of a reduction in the rate of interest and/or an alteration of
the repayment schedule (with or without affecting the unpaid principal balance
of the loan), and/or by an extension (or shortening) of the term to maturity.
Some bankruptcy courts have approved plans, based on the particular facts of the
reorganization case, that effected the cure of a mortgage loan default by paying
arrearages over a number of years. Also, a bankruptcy court may permit a debtor,
through its rehabilitative plan, to reinstate a loan mortgage payment schedule
even if the lender has obtained a final judgment of foreclosure prior to the
filing of the debtor's petition.
Federal bankruptcy law may also have the effect of interfering with or
affecting the ability of the secured lender to enforce the borrower's assignment
of rents and leases related to the mortgaged property. Under Section 362 of the
Bankruptcy Code, the lender will be stayed from enforcing the assignment, and
the legal proceedings necessary to resolve the issue could be time-consuming,
with resulting delays in the lender's receipt of the rents. However, the
Bankruptcy Code has recently been amended to provide that a lender's perfected
pre-petition security interest in leases, rents and hotel revenues continues in
the post-petition leases, rents and hotel revenues, unless a bankruptcy court
orders to the contrary "based on the equities of the case." Thus, unless a court
orders otherwise, revenues from a mortgaged property generated after the date
the bankruptcy petition is filed will constitute "cash collateral" under the
Bankruptcy Code. Debtors may only use cash collateral upon obtaining the
lender's consent or a prior court order finding that the lender's interest in
the mortgaged properties and the cash collateral is "adequately protected" as
such term is defined and interpreted under the Bankruptcy Code.
If a borrower's ability to make payment on a mortgage loan is dependent on
its receipt of rent payments under a lease of the related property, that ability
may be impaired by the commencement of a bankruptcy proceeding relating to a
lessee under such lease. Under the Bankruptcy Code, the filing of a petition in
bankruptcy by or on behalf of a lessee results in a stay in bankruptcy against
the commencement or continuation of any state court proceeding for past due
rent, for accelerated rent, for damages or for a summary eviction order with
respect to a default under the lease that occurred prior to the filing of the
lessee's petition. In addition, the Bankruptcy Code generally provides that a
trustee or debtor-in-possession may, subject to approval of the court, (i)
assume the lease and retain it or assign it to a third party or (ii) reject the
lease. If the lease is assumed, the trustee or debtor-in-possession (or
assignee, if applicable) must
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cure any defaults under the lease, compensate the lessor for its losses and
provide the lessor with "adequate assurance" of future performance. Such
remedies may be insufficient, and any assurances provided to the lessor may, in
fact, be inadequate. If the lease is rejected, the lessor will be treated as an
unsecured creditor with respect to its claim for damages for termination of the
lease. The Bankruptcy Code also limits a lessor's damages for lease rejection to
the rent reserved under the lease (without regard to acceleration) for the
greater of one year, or 15%, not to exceed three years, of the remaining term of
the lease.
ENVIRONMENTAL CONSIDERATIONS
General. A lender may be subject to environmental risks when taking a
security interest in real property. Of particular concern may be properties that
are or have been used for industrial, manufacturing, military, disposal or
certain commercial activity. Such environmental risks include the possible
diminution of the value of a contaminated property or, as discussed below,
potential liability for clean-up costs or other remedial actions that could
exceed the value of the property or the amount of the lender's loan. In certain
circumstances, a lender may decide to abandon a contaminated mortgaged property
as collateral for its loan rather than foreclose and risk liability for clean-up
costs.
Superlien Laws. Under certain laws, contamination on a property may give
rise to a lien on the property for clean-up costs. In several states, such a
lien has priority over all existing liens, including those of existing
mortgages. In these states, the lien of a mortgage may lose its priority to such
a "superlien."
CERCLA. The federal Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended ("CERCLA"), imposes strict liability on
present and past "owners" and "operators" of contaminated real property for the
costs of clean-up. Excluded from CERCLA's definition of "owner" or "operator,"
however, is a lender that, "without participating in the management" of the
facility, holds indicia of ownership primarily to protect his security interest
in the facility. This so-called secured creditor exemption is intended to
provide a lender protection from liability under CERCLA as an owner or operator
of contaminated property. The secured creditor exemption, however, does not
necessarily protect a lender from liability for cleanup of hazardous substances
in every situation. A secured lender may be liable as an "owner" or "operator"
of a contaminated mortgaged property if agents or employees of the lender are
deemed to have participated in the management of such mortgaged property or the
operations of the borrower. Such liability may exist even if the lender did not
cause or contribute to the contamination and regardless of whether the lender
has actually taken possession of a mortgaged property through foreclosure, deed
in lieu of foreclosure or otherwise. Moreover, such liability is not limited to
the original or unamortized principal balance of a loan or to the value of the
property securing a loan.
In addition, lenders may face potential liability for remediation of
releases or petroleum or hazardous substances from underground storage tanks
under the federal Resource Conservation and Recovery Act ("RCRA"), if they are
deemed to be the "owners" or "operators" of facilities in which they have a
security interest or upon which they have foreclosed.
The federal Asset Conservation, Lender Liability and Deposit Insurance
Protection Act of 1996 (the "Act") seeks to clarify the actions a lender may
take without incurring liability as an "owner" or "operator" of contaminated
property or underground petroleum storage tanks. The Act amends CERCLA and RCRA
to provide guidance on actions that do or do not constitute "participation in
management."
Importantly, the Act does not, among other things: (1) completely eliminate
potential liability to lenders under CERCLA or RCRA; (2) reduce credit risks
associated with lending to borrowers having significant environmental
liabilities or potential liabilities, (3) eliminate environmental risks
associated with taking possession of contaminated property or underground
storage tanks or assuming control of the operations thereof, or (4) affect
liabilities or potential liabilities under state environmental laws.
Certain State and Other Federal Laws. Many states have statutes similar to
CERCLA and RCRA, and not all of those statutes provide for a secured creditor
exemption.
In a few states, transfers of some types of properties are conditioned upon
cleanup of contamination. In these cases, a lender that becomes the owner of a
property through foreclosure, deed in lieu of foreclosure or otherwise, may be
required to clean up the contamination in order to sell or otherwise transfer
the property.
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Beyond statute-based environmental liability, there exist common law causes
of action (for example, actions based on nuisance or on toxic tort resulting in
death, personal injury, or damage to property) related to hazardous
environmental conditions on a property. While it may be more difficult to hold a
lender liable in such cases, unanticipated or uninsured liabilities of the
borrower may jeopardize the borrower's ability to meet its loan obligations.
Additional Considerations. The cost of remediating hazardous substance
contamination at a property can be substantial. If a lender becomes liable, it
can bring an action for contribution against other potentially liable parties,
but such parties may be without substantial assets. Accordingly, it is possible
that such costs could become a liability of the Trust Fund and occasion a loss
to the Certificateholders.
To reduce the likelihood of such a loss, unless otherwise specified in the
related Prospectus Supplement, the Pooling and Servicing Agreement will provide
that the Master Servicer, acting on behalf of the Trustee, may not take
possession of a Mortgaged Property or take over its operation unless the Master
Servicer, based solely (as to environmental matters) on a report prepared by a
person who regularly conducts environmental site assessments, has made the
determination that it is appropriate to do so, as described under "The Pooling
and Servicing Agreements--Realization Upon Defaulted Mortgage Loans."
If a lender forecloses on a mortgage secured by a property, the operations
on which are subject to environmental laws and regulations, the lender will be
required to operate the property in accordance with those laws and regulations.
Such compliance may entail substantial expense, especially in the case of
industrial or manufacturing properties.
In addition, a lender may be obligated to disclose environmental conditions
on a property to government entities and/or to prospective buyers (including
prospective buyers at a foreclosure sale or following foreclosure). Such
disclosure may result in the imposition of certain investigation or remediation
requirements or decrease the amount that prospective buyers are willing to pay
for the affected property, sometimes substantially, and thereby decrease the
ability of the lender to recoup its investment in a loan upon foreclosure.
DUE-ON-SALE AND DUE-ON-ENCUMBRANCE
Certain of the Mortgage Loans may contain "due-on-sale" and
"due-on-encumbrance" clauses that purport to permit the lender to accelerate the
maturity of the loan if the borrower transfers or encumbers the related
Mortgaged Property. In recent years, court decisions and legislative actions
placed substantial restrictions on the right of lenders to enforce such clauses
in many states. By virtue, however, of the Garn-St Germain Depository
Institutions Act of 1982 (the "Garn Act"), effective October 15, 1982 (which
purports to preempt state laws that prohibit the enforcement of due-on-sale
clauses by providing, among other matters, that "due-on-sale" clauses in certain
loans made after the effective date of the Garn Act are enforceable, within
certain limitations as set forth in the Garn Act and the regulations promulgated
thereunder), a Master Servicer may nevertheless have the right to accelerate the
maturity of a Mortgage Loan that contains a "due-on-sale" provision upon
transfer of an interest in the property, regardless of the Master Servicer's
ability to demonstrate that a sale threatens its legitimate security interest.
SUBORDINATE FINANCING
Certain of the Mortgage Loans may not restrict the ability of the borrower
to use the Mortgaged Property as security for one or more additional loans.
Where a borrower encumbers a mortgaged property with one or more junior liens,
the senior lender is subjected to additional risk. First, the borrower may have
difficulty servicing and repaying multiple loans. Moreover, if the subordinate
financing permits recourse to the borrower (as is frequently the case) and the
senior loan does not, a borrower may have more incentive to repay sums due on
the subordinate loan. Second, acts of the senior lender that prejudice the
junior lender or impair the junior lender's security may create a superior
equity in favor of the junior lender. For example, if the borrower and the
senior lender agree to an increase in the principal amount of or the interest
rate payable on the senior loan, the senior lender may lose its priority to the
extent any existing junior lender is harmed or the borrower is additionally
burdened. Third, if the borrower defaults on the senior loan and/or any junior
loan or loans, the existence of junior loans and actions taken by junior lenders
can impair the security available to the senior lender and can interfere with or
delay the taking of action by the senior lender. Moreover, the bankruptcy of a
junior lender may operate to stay foreclosure or similar proceedings by the
senior lender.
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DEFAULT INTEREST AND LIMITATIONS ON PREPAYMENTS
Notes and mortgages may contain provisions that obligate the borrower to
pay a late charge or additional interest if payments are not timely made, and in
some circumstances, may prohibit prepayments for a specified period and/or
condition prepayments upon the borrower's payment of prepayment fees or yield
maintenance penalties. In certain states, there are or may be specific
limitations upon the late charges that a lender may collect from a borrower for
delinquent payments. Certain states also limit the amounts that a lender may
collect from a borrower as an additional charge if the loan is prepaid. In
addition, the enforceability of provisions that provide for prepayment fees or
penalties upon an involuntary prepayment is unclear under the laws of many
states.
APPLICABILITY OF USURY LAWS
Title V of the Depository Institutions Deregulation and Monetary Control
Act of 1980 ("Title V") provides that state usury limitations shall not apply to
certain types of residential (including multifamily) first mortgage loans
originated by certain lenders after March 31, 1980. Title V authorized any state
to reimpose interest rate limits by adopting, before April 1, 1983, a law or
constitutional provision that expressly rejects application of the federal law.
In addition, even where Title V is not so rejected, any state is authorized by
the law to adopt a provision limiting discount points or other charges on
mortgage loans covered by Title V. Certain states have taken action to reimpose
interest rate limits and/or to limit discount points or other charges.
No Mortgage Loan originated in any state in which application of Title V
has been expressly rejected or a provision limiting discount points or other
charges has been adopted, will (if originated after that rejection or adoption)
be eligible for inclusion in a Trust Fund unless (i) such Mortgage Loan provides
for such interest rate, discount points and charges as are permitted in such
state or (ii) such Mortgage Loan provides that the terms thereof are to be
construed in accordance with the laws of another state under which such interest
rate, discount points and charges would not be usurious and the borrower's
counsel has rendered an opinion that such choice of law provision would be given
effect.
SOLDIERS' AND SAILORS' CIVIL RELIEF ACT OF 1940
Under the terms of the Soldiers' and Sailors' Civil Relief Act of 1940, as
amended (the "Relief Act"), a borrower who enters military service after the
origination of such borrower's mortgage loan (including a borrower who was in
reserve status and is called to active duty after origination of the Mortgage
Loan), may not be charged interest (including fees and charges) above an annual
rate of 6% during the period of such borrower's active duty status, unless a
court orders otherwise upon application of the lender. The Relief Act applies to
individuals who are members of the Army, Navy, Air Force, Marines, National
Guard, Reserves, Coast Guard and officers of the U.S. Public Health Service
assigned to duty with the military. Because the Relief Act applies to
individuals who enter military service (including reservists who are called to
active duty) after origination of the related mortgage loan, no information can
be provided as to the number of loans with individuals as borrowers that may be
affected by the Relief Act. Application of the Relief Act would adversely
affect, for an indeterminate period of time, the ability of any servicer to
collect full amounts of interest on certain of the Mortgage Loans. Any
shortfalls in interest collections resulting from the application of the Relief
Act would result in a reduction of the amounts distributable to the holders of
the related series of Certificates, and would not be covered by advances or,
unless otherwise specified in the related Prospectus Supplement, any form of
Credit Support provided in connection with such Certificates. In addition, the
Relief Act imposes limitations that would impair the ability of the servicer to
foreclose on an affected Mortgage Loan during the borrower's period of active
duty status, and, under certain circumstances, during an additional three-month
period thereafter.
AMERICANS WITH DISABILITIES ACT
Under Title III of the Americans with Disabilities Act of 1990 and rules
promulgated thereunder (collectively, the "ADA"), in order to protect
individuals with disabilities, public accommodations (such as hotels,
restaurants, shopping centers, hospitals, schools and social service center
establishments) must remove architectural and communication barriers that are
structural in nature from existing places of public accommodation to the extent
"readily achievable." In addition, under the ADA, alterations to a place of
public accommodation or a commercial facility are to be made so that, to the
maximum extent feasible, such altered portions are readily accessible to and
usable by disabled individuals. The "readily achievable" standard takes into
account, among other factors, the
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financial resources of the affected site, owner, landlord or other applicable
person. The requirements of the ADA may also be imposed on a foreclosing lender
who succeeds to the interest of the borrower as owner or landlord. Since the
"readily achievable" standard may vary depending on the financial condition of
the owner or landlord, a foreclosing lender who is financially more capable than
the borrower of complying with the requirements of the ADA may be subject to
more stringent requirements than those to which the borrower is subject.
MATERIAL FEDERAL INCOME TAX CONSEQUENCES
GENERAL
The following is a general discussion of the anticipated material federal
income tax consequences of the purchase, ownership and disposition of Offered
Certificates. This discussion is directed solely to Certificateholders that hold
the Certificates as capital assets within the meaning of Section 1221 of the
Internal Revenue Code of 1986 (the "Code") and it does not purport to discuss
all federal income tax consequences that may be applicable to particular
categories of investors, some of which (such as banks, insurance companies and
foreign investors) may be subject to special rules. Further, the authorities on
which this discussion, and the opinion referred to below, are based are subject
to change or differing interpretations, which could apply retroactively.
Taxpayers and preparers of tax returns (including those filed by any REMIC or
other issuer) should be aware that under applicable Treasury regulations a
provider of advice on specific issues of law is not considered an income tax
return preparer unless the advice (i) is given with respect to events that have
occurred at the time the advice is rendered and is not given with respect to the
consequences of contemplated actions, and (ii) is directly relevant to the
determination of an entry on a tax return. Accordingly, taxpayers should consult
their own tax advisors and tax return preparers regarding the preparation of any
item on a tax return, even where the anticipated tax treatment has been
discussed herein. In addition to the federal income tax consequences described
herein, potential investors should consider the state and local tax
consequences, if any, of the purchase, ownership and disposition of Offered
Certificates. See "State and Other Tax Consequences." Certificateholders are
advised to consult their own tax advisors concerning the federal, state, local
or other tax consequences to them of the purchase, ownership and disposition of
Offered Certificates.
The following discussion addresses securities of two general types: (i)
certificates ("REMIC Certificates") representing interests in a Trust Fund, or a
portion thereof, that the Master Servicer or the Trustee will elect to have
treated as a real estate mortgage investment conduit ("REMIC") under Sections
860A through 860G (the "REMIC Provisions") of the Code, and (ii) certificates
("Grantor Trust Certificates") representing interests in a Trust Fund ("Grantor
Trust Fund") as to which no such election will be made. If no REMIC election is
made and the Trust Fund does not elect to be treated as a Grantor Trust Fund,
the Trust Fund may elect to be treated as a financial assets securitization
investment trust ("FASIT"). The Prospectus Supplement relating to such an
election will describe the requirements for the classification of the Trust Fund
as a FASIT and the consequences to a holder of owning certificates in a FASIT.
The Prospectus Supplement for each series of Certificates also will indicate
whether a REMIC election (or elections) will be made for the related Trust Fund
and, if such an election is to be made, will identify all "regular interests"
and "residual interests" in the REMIC. For purposes of this tax discussion,
references to a "Certificateholder" or a "holder" are to the beneficial owner of
a Certificate.
The following discussion is limited in applicability to Offered
Certificates. Moreover, this discussion applies only to the extent that Mortgage
Assets held by a Trust Fund consist solely of Mortgage Loans. To the extent that
other Mortgage Assets, including REMIC certificates and mortgage pass-through
certificates, are to be held by a Trust Fund, the tax consequences associated
with the inclusion of such assets will be disclosed in the related Prospectus
Supplement. In addition, if Cash Flow Agreements, other than guaranteed
investment contracts, are included in a Trust Fund, the tax consequences
associated with such Cash Flow Agreements also will be disclosed in the related
Prospectus Supplement. See "Description of the Trust Funds--Cash Flow
Agreements."
Furthermore, the following discussion is based in part upon the rules
governing original issue discount that are set forth in Sections 1271-1273 and
1275 of the Code and in the Treasury regulations issued thereunder (the "OID
Regulations"), and in part upon the REMIC Provisions and the Treasury
regulations issued thereunder (the "REMIC Regulations"). The OID Regulations do
not adequately address certain issues relevant to, and in some instances provide
that they are not applicable to, securities such as the Certificates.
REMICS
Classification of REMICs. Upon the issuance of each series of REMIC
Certificates, counsel to the Depositor will deliver its opinion generally to the
effect that, assuming compliance with all provisions of the related Pooling
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Agreement, the related Trust Fund (or each applicable portion thereof) will
qualify as a REMIC and the REMIC Certificates offered with respect thereto will
be considered to evidence ownership of "regular interests" ("REMIC Regular
Certificates") or "residual interests" ("REMIC Residual Certificates") in that
REMIC within the meaning of the REMIC Provisions.
If an entity electing to be treated as a REMIC fails to comply with one or
more of the ongoing requirements of the Code for such status during any taxable
year, the Code provides that the entity will not be treated as a REMIC for such
year and thereafter. In that event, such entity may be taxable as a corporation
under Treasury regulations, and the related REMIC Certificates may not be
accorded the status or given the tax treatment described below. Although the
Code authorizes the Treasury Department to issue regulations providing relief in
the event of an inadvertent termination of REMIC status, no such regulations
have been issued. Any such relief, moreover, may be accompanied by sanctions,
such as the imposition of a corporate tax on all or a portion of the Trust
Fund's income for the period in which the requirements for such status are not
satisfied. The Pooling Agreement with respect to each REMIC will include
provisions designed to maintain the Trust Fund's status as a REMIC under the
REMIC Provisions. It is not anticipated that the status of any Trust Fund as a
REMIC will be terminated.
Characterization of Investments in REMIC Certificates. In general, the
REMIC Certificates will be "real estate assets" within the meaning of Section
856(c)(5)(A) of the Code and assets described in Section 7701(a)(19)(C) of the
Code in the same proportion that the assets of the REMIC underlying such
Certificates would be so treated. However, to the extent that the REMIC assets
constitute mortgages on property not used for residential or certain other
prescribed purposes, the REMIC Certificates will not be treated as assets
qualifying under Section 7701(a)(19)(C)(v). Moreover, if 95% or more of the
assets of the REMIC qualify for any of the foregoing treatments at all times
during a calendar year, the REMIC Certificates will qualify for the
corresponding status in their entirety for that calendar year. Interest
(including original issue discount) on the REMIC Regular Certificates and income
allocated to the class of REMIC Residual Certificates will be interest described
in Section 856(c)(3)(B) of the Code to the extent that such Certificates are
treated as "real estate assets" within the meaning of Section 856(c)(5)(A) of
the Code. In addition, the REMIC Regular Certificates will be "qualified
mortgages" within the meaning of Section 860G(a)(3) of the Code. The
determination as to the percentage of the REMIC's assets that constitute assets
described in the foregoing sections of the Code will be made with respect to
each calendar quarter based on the average adjusted basis of each category of
the assets held by the REMIC during such calendar quarter. The Master Servicer
or the Trustee will report those determinations to Certificateholders in the
manner and at the times required by the applicable Treasury regulations.
The assets of the REMIC will include, in addition to Mortgage Loans,
payments on Mortgage Loans held pending distribution on the REMIC Certificates
and property acquired by foreclosure held pending sale, and may include amounts
in reserve accounts. It is unclear whether property acquired by foreclosure held
pending sale and amounts in reserve accounts would be considered to be part of
the Mortgage Loans, or whether such assets (to the extent not invested in assets
described in the foregoing sections) otherwise would receive the same treatment
as the Mortgage Loans for purposes of all of the foregoing sections. In
addition, in some instances Mortgage Loans may not be treated entirely as assets
described in the foregoing sections. If so, the related Prospectus Supplement
will describe those Mortgage Loans that may not be so treated. The REMIC
Regulations do provide, however, that payments on Mortgage Loans held pending
distribution are considered part of the Mortgage Loans for purposes of Section
856(c)(5)(A) of the Code.
Tiered REMIC Structures. For certain series of REMIC Certificates, two or
more separate elections may be made to treat designated portions of the related
Trust Fund as REMICs ("Tiered REMICs") for federal income tax purposes. Upon the
issuance of any such series of REMIC Certificates, counsel to the Depositor will
deliver its opinion generally to the effect that, assuming compliance with all
provisions of the related Pooling Agreement, the Tiered REMICs will each qualify
as a REMIC and the REMIC Certificates issued by the Tiered REMICs, respectively,
will be considered to evidence ownership of REMIC Regular Certificates or REMIC
Residual Certificates in the related REMIC within the meaning of the REMIC
Provisions.
Solely for purposes of determining whether the REMIC Certificates will be
"real estate assets" within the meaning of Section 856(c)(5)(A) of the Code, and
"loans secured by an interest in real property" under Section 7701(a)(19)(C) of
the Code, and whether the income on such Certificates is interest described in
Section 856(c)(3)(B) of the Code, the Tiered REMICs will be treated as one
REMIC.
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TAXATION OF OWNERS OF REMIC REGULAR CERTIFICATES
General. Except as otherwise stated in this discussion, REMIC Regular
Certificates will be treated for federal income tax purposes as debt instruments
issued by the REMIC and not as ownership interests in the REMIC or its assets.
Moreover, holders of REMIC Regular Certificates that otherwise report income
under a cash method of accounting will be required to report income with respect
to REMIC Regular Certificates under an accrual method.
Original Issue Discount. Certain REMIC Regular Certificates may be issued
with "original issue discount" within the meaning of Section 1273(a) of the
Code. Any holders of REMIC Regular Certificates issued with original issue
discount generally will be required to include original issue discount in income
as it accrues, in accordance with the method described below, in advance of the
receipt of the cash attributable to such income. In addition, Section 1272(a)(6)
of the Code provides special rules applicable to REMIC Regular Certificates and
certain other debt instruments issued with original issue discount. Regulations
have not been issued under that section.
The Code requires that a prepayment assumption be used with respect to
Mortgage Loans held by a REMIC in computing the accrual of original issue
discount on REMIC Regular Certificates issued by that REMIC, and that
adjustments be made in the amount and rate of accrual of such discount to
reflect differences between the actual prepayment rate and the prepayment
assumption. The prepayment assumption is to be determined in a manner prescribed
in Treasury regulations; as noted above, those regulations have not been issued.
The Conference Committee Report accompanying the Tax Reform Act of 1986 (the
"Committee Report") indicates that the regulations will provide that the
prepayment assumption used with respect to a REMIC Regular Certificate must be
the same as that used in pricing the initial offering of such REMIC Regular
Certificate. The prepayment assumption (the "Prepayment Assumption") used in
reporting original issue discount for each series of REMIC Regular Certificates
will be consistent with this standard and will be disclosed in the related
Prospectus Supplement. However, neither the Depositor nor any other person will
make any representation that the Mortgage Loans will in fact prepay at a rate
conforming to the Prepayment Assumption or at any other rate.
The original issue discount, if any, on a REMIC Regular Certificate will be
the excess of its stated redemption price at maturity over its issue price. The
issue price of a particular class of REMIC Regular Certificates will be the
first cash price at which a substantial amount of REMIC Regular Certificates of
that class is sold (excluding sales to bond houses, brokers and underwriters).
If less than a substantial amount of a particular class of REMIC Regular
Certificates is sold for cash on or prior to the date of their initial issuance
(the "Closing Date"), the issue price for such class will be the fair market
value of such class on the Closing Date. Under the OID Regulations, the stated
redemption price of a REMIC Regular Certificate is equal to the total of all
payments to be made on such Certificate other than "qualified stated interest."
"Qualified stated interest" includes interest that is unconditionally payable at
least annually at a single fixed rate, at a "qualified floating rate," or at an
"objective rate," a combination of a single fixed rate and one or more
"qualified floating rates" or one "qualified inverse floating rate," or a
combination of "qualified floating rates" that does not operate in a manner that
accelerates or defers interest payments on such REMIC Regular Certificate.
In the case of REMIC Regular Certificates bearing adjustable interest
rates, the determination of the total amount of original issue discount and the
timing of the inclusion thereof will vary according to the characteristics of
such REMIC Regular Certificates. If the original issue discount rules apply to
such Certificates, the related Prospectus Supplement will describe the manner in
which such rules will be applied with respect to those Certificates in preparing
information returns to the Certificateholders and the Internal Revenue Service
(the "IRS").
In addition, if the accrued interest to be paid on the first Distribution
Date is computed with respect to a period that begins prior to the Closing Date,
a portion of the purchase price paid for a REMIC Regular Certificate will
reflect such accrued interest. In such cases, information returns provided to
the Certificateholders and the IRS will be based on the position that the
portion of the purchase price paid for the interest accrued with respect to
periods prior to the Closing Date is treated as part of the overall cost of such
REMIC Regular Certificate (and not as a separate asset the cost of which is
recovered entirely out of interest received on the next Distribution Date) and
that portion of the interest paid on the first Distribution Date in excess of
interest accrued for a number of days corresponding to the number of days from
the Closing Date to the first Distribution Date should be included in the stated
redemption price of such REMIC Regular Certificate. However, the OID Regulations
state that all or some portion of such accrued interest may be treated as a
separate asset the cost of which is recovered entirely out of interest paid on
the first Distribution Date. It is unclear how an election to do so would be
made under the OID Regulations and whether such an election could be made
unilaterally by a Certificateholder.
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Notwithstanding the general definition of original issue discount, original
issue discount on a REMIC Regular Certificate will be considered to be de
minimis if it is less than 0.25% of the stated redemption price of the REMIC
Regular Certificate multiplied by its weighted average life. For this purpose,
the weighted average life of the REMIC Regular Certificate is computed as the
sum of the amounts determined, as to each payment included in the stated
redemption price of such REMIC Regular Certificate, by multiplying (i) the
number of complete years (rounding down for partial years) from the issue date
until such payment is expected to be made (presumably taking into account the
Prepayment Assumption) by (ii) a fraction, the numerator of which is the amount
of the payment, and the denominator of which is the stated redemption price at
maturity of such REMIC Regular Certificate. Under the OID Regulations, original
issue discount of only a de minimis amount (other than de minimis original
discount attributable to a so-called "teaser" interest rate or an initial
interest holiday) will be included in income as each payment of stated principal
is made, based on the product of the total amount of such de minimis original
issue discount and a fraction, the numerator of which is the amount of such
principal payment and the denominator of which is the outstanding stated
principal amount of the REMIC Regular Certificate. The OID Regulations also
would permit a Certificateholder to elect to accrue de minimis original issue
discount into income currently based on a constant yield method. See "--Taxation
of Owners of REMIC Regular Certificates--Market Discount" for a description of
such election under the OID Regulations.
If original issue discount on a REMIC Regular Certificate is in excess of a
de minimis amount, the holder of such Certificate must include in ordinary gross
income the sum of the "daily portions" of original issue discount for each day
during its taxable year on which it held such REMIC Regular Certificate,
including the purchase date but excluding the disposition date. In the case of
an original holder of a REMIC Regular Certificate, the daily portions of
original issue discount will be determined as follows.
As to each "accrual period," that is, each period that ends on a date that
corresponds to a Distribution Date and begins on the first day following the
immediately preceding accrual period (or in the case of the first such period,
begins on the Closing Date), a calculation will be made of the portion of the
original issue discount that accrued during such accrual period. The portion of
original issue discount that accrues in any accrual period will equal the
excess, if any, of (i) the sum of (a) the present value, as of the end of the
accrual period, of all of the distributions remaining to be made on the REMIC
Regular Certificate, if any, in future periods and (b) the distributions made on
such REMIC Regular Certificate during the accrual period of amounts included in
the stated redemption price, over (ii) the adjusted issue price of such REMIC
Regular Certificate at the beginning of the accrual period. The present value of
the remaining distributions referred to in the preceding sentence will be
calculated (i) assuming that distributions on the REMIC Regular Certificate will
be received in future periods based on the Mortgage Loans being prepaid at a
rate equal to the Prepayment Assumption and (ii) using a discount rate equal to
the original yield to maturity of the Certificate. For these purposes, the
original yield to maturity of the Certificate will be calculated based on its
issue price and assuming that distributions on the Certificate will be made in
all accrual periods based on the Mortgage Loans being prepaid at a rate equal to
the Prepayment Assumption. The adjusted issue price of a REMIC Regular
Certificate at the beginning of any accrual period will equal the issue price of
such Certificate, increased by the aggregate amount of original issue discount
that accrued with respect to such Certificate in prior accrual periods, and
reduced by the amount of any distributions made on such REMIC Regular
Certificate in prior accrual periods of amounts included in the stated
redemption price. The original issue discount accruing during any accrual
period, computed as described above, will be allocated ratably to each day
during the accrual period to determine the daily portion of original issue
discount for such day.
A subsequent purchaser of a REMIC Regular Certificate that purchases such
Certificate at a cost (excluding any portion of such cost attributable to
accrued qualified stated interest) less than its remaining stated redemption
price will also be required to include in gross income the daily portions of any
original issue discount with respect to such Certificate. However, each such
daily portion will be reduced, if such cost is in excess of its "adjusted issue
price," in proportion to the ratio such excess bears to the aggregate original
issue discount remaining to be accrued on such REMIC Regular Certificate. The
adjusted issue price of a REMIC Regular Certificate on any given day equals the
sum of (i) the adjusted issue price (or, in the case of the first accrual
period, the issue price) of such Certificate at the beginning of the accrual
period which includes such day and (ii) the daily portions of original issue
discount for all days during such accrual period prior to such day.
Market Discount. A Certificateholder that purchases a REMIC Regular
Certificate at a market discount, that is, in the case of a REMIC Regular
Certificate issued without original issue discount, at a purchase price less
than its
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remaining stated principal amount, or in the case of a REMIC Regular Certificate
issued with original issue discount, at a purchase price less than its adjusted
issue price will recognize gain upon receipt of each distribution representing
stated redemption price. In particular, under Section 1276 of the Code such a
Certificateholder generally will be required to allocate the portion of each
such distribution representing stated redemption price first to accrued market
discount not previously included in income, and to recognize ordinary income to
that extent. A Certificateholder may elect to include market discount in income
currently as it accrues rather than including it on a deferred basis in
accordance with the foregoing. If made, such election will apply to all market
discount bonds acquired by such Certificateholder on or after the first day of
the first taxable year to which such election applies. In addition, the OID
Regulations permit a Certificateholder to elect to accrue all interest, discount
(including de minimis market or original issue discount) and premium in income
as interest, based on a constant yield method. If such an election were made
with respect to a REMIC Regular Certificate with market discount, the
Certificateholder would be deemed to have made an election to include currently
market discount in income with respect to all other debt instruments having
market discount that such Certificateholder acquires during the taxable year of
the election or thereafter, and possibly previously acquired instruments.
Similarly, a Certificateholder that made this election for a Certificate that is
acquired at a premium would be deemed to have made an election to amortize bond
premium with respect to all debt instruments having amortizable bond premium
that such Certificateholder owns or acquires. See "--Taxation of Owners of REMIC
Regular Certificates--Premium." Each of these elections to accrue interest,
discount and premium with respect to a Certificate on a constant yield method or
as interest would be irrevocable.
However, market discount with respect to a REMIC Regular Certificate will
be considered to be de minimis for purposes of Section 1276 of the Code if such
market discount is less than 0.25% of the remaining stated redemption price of
such REMIC Regular Certificate multiplied by the number of complete years to
maturity remaining after the date of its purchase. In interpreting a similar
rule with respect to original issue discount on obligations payable in
installments, the OID Regulations refer to the weighted average maturity of
obligations, and it is likely that the same rule will be applied with respect to
market discount, presumably taking into account the Prepayment Assumption. If
market discount is treated as de minimis under this rule, it appears that the
actual discount would be treated in a manner similar to original issue discount
of a de minimis amount. See "--Taxation of Owners of REMIC Regular
Certificates--Original Issue Discount." Such treatment would result in discount
being included in income at a slower rate than discount would be required to be
included in income using the method described above.
Section 1276(b)(3) of the Code specifically authorizes the Treasury
Department to issue regulations providing for the method for accruing market
discount on debt instruments, the principal of which is payable in more than one
installment. Until regulations are issued by the Treasury Department, certain
rules described in the Committee Report apply. The Committee Report indicates
that in each accrual period market discount on REMIC Regular Certificates should
accrue, at the Certificateholder's option: (i) on the basis of a constant yield
method, (ii) in the case of a REMIC Regular Certificate issued without original
issue discount, in an amount that bears the same ratio to the total remaining
market discount as the stated interest paid in the accrual period bears to the
total amount of stated interest remaining to be paid on the REMIC Regular
Certificate as of the beginning of the accrual period, or (iii) in the case of a
REMIC Regular Certificate issued with original issue discount, in an amount that
bears the same ratio to the total remaining market discount as the original
issue discount accrued in the accrual period bears to the total original issue
discount remaining on the REMIC Regular Certificate at the beginning of the
accrual period. Moreover, the Prepayment Assumption used in calculating the
accrual of original issue discount is also used in calculating the accrual of
market discount. Because the regulations referred to in this paragraph have not
been issued, it is not possible to predict what effect such regulations might
have on the tax treatment of a REMIC Regular Certificate purchased at a discount
in the secondary market.
To the extent that REMIC Regular Certificates provide for monthly or other
periodic distributions throughout their term, the effect of these rules may be
to require market discount to be includible in income at a rate that is not
significantly slower than the rate at which such discount would accrue if it
were original issue discount. Moreover, in any event a holder of a REMIC Regular
Certificate generally will be required to treat a portion of any gain on the
sale or exchange of such Certificate as ordinary income to the extent of the
market discount accrued to the date of disposition under one of the foregoing
methods, less any accrued market discount previously reported as ordinary
income.
Further, under Section 1277 of the Code a holder of a REMIC Regular
Certificate may be required to defer a portion of its interest deductions for
the taxable year attributable to any indebtedness incurred or continued to
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purchase or carry a REMIC Regular Certificate purchased with market discount.
For these purposes, the de minimis rule referred to above applies. Any such
deferred interest expense would not exceed the market discount that accrues
during such taxable year and is, in general, allowed as a deduction not later
than the year in which such market discount is includible in income. If such
holder elects to include market discount in income currently as it accrues on
all market discount instruments acquired by such holder in that taxable year or
thereafter, the interest deferral rule described above will not apply.
Premium. A REMIC Regular Certificate purchased at a cost (excluding any
portion of such cost attributable to accrued qualified stated interest) greater
than its remaining stated redemption price will be considered to be purchased at
a premium. The holder of such a REMIC Regular Certificate may elect under
Section 171 of the Code to amortize such premium under the constant yield method
over the life of the Certificate. On June 27, 1996, the IRS published in the
Federal Register proposed regulations on the amortization of bond premium. Under
those regulations, if a holder elects to amortize bond premium, bond premium
would be amortized on a constant yield method and would be applied against
qualified stated interest. The proposed regulations generally would be effective
for REMIC Regular Certificates acquired on or after the date 60 days after the
date final regulations are published in the Federal Register. If made, such an
election will apply to all debt instruments having amortizable bond premium that
the holder owns or subsequently acquires. Amortizable premium will be treated as
an offset to interest income on the related debt instrument, rather than as a
separate interest deduction. The OID Regulations also permit Certificateholders
to elect to include all interest, discount and premium in income based on a
constant yield method, further treating the Certificateholder as having made the
election to amortize premium generally. See "--Taxation of Owners of REMIC
Regular Certificates--Market Discount." The Committee Report states that the
same rules that apply to accrual of market discount (which rules will require
use of a Prepayment Assumption in accruing market discount with respect to REMIC
Regular Certificates without regard to whether such Certificates have original
issue discount) will also apply in amortizing bond premium under Section 171 of
the Code.
Realized Losses. Under Section 166 of the Code, both corporate holders of
the REMIC Regular Certificates and noncorporate holders of the REMIC Regular
Certificates that acquire such Certificates in connection with a trade or
business should be allowed to deduct, as ordinary losses, any losses sustained
during a taxable year in which their Certificates become wholly or partially
worthless as the result of one or more realized losses on the Residential Loans.
However, it appears that a noncorporate holder that does not acquire a REMIC
Regular Certificate in connection with a trade or business will not be entitled
to deduct a loss under Section 166 of the Code until such holder's Certificate
becomes wholly worthless (i.e., until its outstanding principal balance has been
reduced to zero) and that the loss will be characterized as a short-term capital
loss.
Each holder of a REMIC Regular Certificate will be required to accrue
interest and original issue discount with respect to such Certificate, without
giving effect to any reductions in distributions attributable to defaults or
delinquencies on the Residential Loans or the underlying Certificates until it
can be established that any such reduction ultimately will not be recoverable.
As a result, the amount of taxable income reported in any period by the holder
of a REMIC Regular Certificate could exceed the amount of economic income
actually realized by the holder in such period. Although the holder of a REMIC
Regular Certificate eventually will recognize a loss or reduction in income
attributable to previously accrued and included income that as the result of a
realized loss ultimately will not be realized, the law is unclear with respect
to the timing and character of such loss or reduction in income.
TAXATION OF OWNERS OF REMIC RESIDUAL CERTIFICATES
General. As residual interests, the REMIC Residual Certificates will be
subject to tax rules that differ significantly from those that would apply if
the REMIC Residual Certificates were treated for federal income tax purposes as
direct ownership interests in the Mortgage Loans or as debt instruments issued
by the REMIC.
An original holder of a REMIC Residual Certificate generally will be
required to report its daily portion of the taxable income or, subject to the
limitations noted in this discussion, the net loss of the REMIC for each day
during a calendar quarter that such holder owned such REMIC Residual
Certificate. For this purpose, the taxable income or net loss of the REMIC will
be allocated to each day in the calendar quarter ratably using a "30 days per
month/90 days per quarter/360 days per year" convention unless otherwise
disclosed in the related Prospectus Supplement. The daily amounts so allocated
will then be allocated among the REMIC Residual Certificateholders in proportion
to their respective ownership interests on such day. Any amount included in the
gross income or allowed as a loss of any REMIC Residual Certificateholder by
virtue of this paragraph will be treated as ordinary income or loss. The taxable
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income of the REMIC will be determined under the rules described below in
"--Taxable Income of the REMIC" and will be taxable to the REMIC Residual
Certificateholders without regard to the timing or amount of cash distributions
by the REMIC. Ordinary income derived from REMIC Residual Certificates will be
"portfolio income" for purposes of the taxation of taxpayers subject to
limitations under Section 469 of the Code on the deductibility of "passive
losses."
A holder of a REMIC Residual Certificate that purchased such Certificate
from a prior holder of such Certificate also will be required to report on its
federal income tax return amounts representing its daily share of the taxable
income (or net loss) of the REMIC for each day that it holds such REMIC Residual
Certificate. Those daily amounts generally will equal the amounts of taxable
income or net loss determined as described above. The Committee Report indicates
that certain modifications of the general rules may be made, by regulations,
legislation or otherwise to reduce (or increase) the income of a REMIC Residual
Certificateholder that purchased such REMIC Residual Certificate from a prior
holder of such Certificate at a price greater than (or less than) the adjusted
basis (as defined below) such REMIC Residual Certificate would have had in the
hands of an original holder of such Certificate. The REMIC Regulations, however,
do not provide for any such modifications.
Any payments received by a holder of a REMIC Residual Certificate in
connection with the acquisition of such REMIC Residual Certificate will be taken
into account in determining the income of such holder for federal income tax
purposes. Although it appears likely that any such payment would be includible
in income immediately upon its receipt, the IRS might assert that such payment
should be included in income over time according to an amortization schedule or
according to some other method. Because of the uncertainty concerning the
treatment of such payments, holders of REMIC Residual Certificates should
consult their tax advisors concerning the treatment of such payments for income
tax purposes.
The amount of income REMIC Residual Certificateholders will be required to
report (or the tax liability associated with such income) may exceed the amount
of cash distributions received from the REMIC for the corresponding period.
Consequently, REMIC Residual Certificateholders should have other sources of
funds sufficient to pay any federal income taxes due as a result of their
ownership of REMIC Residual Certificates or unrelated deductions against which
income may be offset, subject to the rules relating to "excess inclusions,"
residual interests without "significant value" and "noneconomic" residual
interests discussed below. The fact that the tax liability associated with the
income allocated to REMIC Residual Certificateholders may exceed the cash
distributions received by such REMIC Residual Certificateholders for the
corresponding period may significantly adversely affect such REMIC Residual
Certificateholders after-tax rate of return.
Taxable Income of the REMIC. The taxable income of the REMIC will equal the
income from the Mortgage Loans and other assets of the REMIC plus any
cancellation of indebtedness income due to the allocation of realized losses to
REMIC Regular Certificates, less the deductions allowed to the REMIC for
interest (including original issue discount and reduced by any premium on
issuance) on the REMIC Regular Certificates (and any other class of REMIC
Certificates constituting "regular interests" in the REMIC not offered hereby),
amortization of any premium on the Mortgage Loans, bad debt losses with respect
to the Mortgage Loans and, except as described below, for servicing,
administrative and other expenses.
For purposes of determining its taxable income, the REMIC will have an
initial aggregate basis in its assets equal to the sum of the issue prices of
all REMIC Certificates (or, if a class of REMIC Certificates is not sold
initially, their fair market values). Such aggregate basis will be allocated
among the Mortgage Loans and the other assets of the REMIC in proportion to
their respective fair market values. The issue price of any REMIC Certificates
offered hereby will be determined in the manner described above under
"--Taxation of Owners of REMIC Regular Certificates--Original Issue Discount."
The issue price of a REMIC Certificate received in exchange for an interest in
the Mortgage Loans or other property will equal the fair market value of such
interests in the Mortgage Loans or other property. Accordingly, if one or more
classes of REMIC Certificates are retained initially rather than sold, the
Master Servicer or the Trustee may be required to estimate the fair market value
of such interests in order to determine the basis of the REMIC in the Mortgage
Loans and other property held by the REMIC.
Subject to possible application of the de minimis rules, the method of
accrual by the REMIC of original issue discount income and market discount
income with respect to Mortgage Loans that it holds will be equivalent to the
method for accruing original issue discount income for holders of REMIC Regular
Certificates (that is, under the constant yield method taking into account the
Prepayment Assumption). However, a REMIC that acquires loans at a
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market discount must include such market discount in income currently, as it
accrues, on a constant interest basis. See "--Taxation of Owners of REMIC
Regular Certificates" above, which describes a method for accruing such discount
income that is analogous to that required to be used by a REMIC as to Mortgage
Loans with market discount that it holds.
A Mortgage Loan will be deemed to have been acquired with discount (or
premium) to the extent that the REMIC's basis therein, determined as described
in the preceding paragraph, is less than (or greater than) its stated redemption
price. Any such discount will be includible in the income of the REMIC as it
accrues, in advance of receipt of the cash attributable to such income, under a
method similar to the method described above for accruing original issue
discount on the REMIC Regular Certificates. It is anticipated that each REMIC
will elect under Section 171 of the Code to amortize any premium on the Mortgage
Loans. Premium on any Mortgage Loan to which such election applies may be
amortized under a constant yield method, presumably taking into account a
Prepayment Assumption. Further, such an election would not apply to any Mortgage
Loan originated on or before September 27, 1985. Instead, premium on such a
Mortgage Loan should be allocated among the principal payments thereon and be
deductible by the REMIC as those payments become due or upon the prepayment of
such Mortgage Loan.
A REMIC will be allowed deductions for interest (including original issue
discount) on the REMIC Regular Certificates (including any other class of REMIC
Certificates constituting "regular interests" in the REMIC not offered hereby)
equal to the deductions that would be allowed if the REMIC Regular Certificates
(including any other class of REMIC Certificates constituting "regular
interests" in the REMIC not offered hereby) were indebtedness of the REMIC.
Original issue discount will be considered to accrue for this purpose as
described above under "--Taxation of Owners of REMIC Regular
Certificates--Original Issue Discount," except that the de minimis rule and the
adjustments for subsequent holders of REMIC Regular Certificates (including any
other class of REMIC Certificates constituting "regular interests" in the REMIC
not offered hereby) described therein will not apply.
If a class of REMIC Regular Certificates is issued at a price in excess of
the stated redemption price of such class (such excess "Issue Premium"), the net
amount of interest deductions that are allowed the REMIC in each taxable year
with respect to the REMIC Regular Certificates of such class will be reduced by
an amount equal to the portion of the Issue Premium that is considered to be
amortized or repaid in that year. Although the matter is not entirely certain,
it is likely that Issue Premium would be amortized under a constant yield method
in a manner analogous to the method of accruing original issue discount
described above under "--Taxation of Owners of REMIC Regular
Certificates--Original Issue Discount."
As a general rule, the taxable income of a REMIC will be determined in the
same manner as if the REMIC were an individual having the calendar year as its
taxable year and using the accrual method of accounting. However, no item of
income, gain, loss or deduction allocable to a prohibited transaction will be
taken into account. See "--Prohibited Transactions Tax and Other Taxes" below.
Further, the limitation on miscellaneous itemized deductions imposed on
individuals by Section 67 of the Code (which allows such deductions only to the
extent they exceed in the aggregate two percent of the taxpayer's adjusted gross
income) will not be applied at the REMIC level so that the REMIC will be allowed
deductions for servicing, administrative and other non-interest expenses in
determining its taxable income. All such expenses will be allocated as a
separate item to the holders of REMIC Certificates, subject to the limitation of
Section 67 of the Code. See "--Possible Pass-Through of Miscellaneous Itemized
Deductions." If the deductions allowed to the REMIC exceed its gross income for
a calendar quarter, such excess will be the net loss for the REMIC for that
calendar quarter.
Basis Rules, Net Losses and Distributions. The adjusted basis of a REMIC
Residual Certificate will be equal to the amount paid for such REMIC Residual
Certificate, increased by amounts included in the income of the REMIC Residual
Certificateholder and decreased (but not below zero) by distributions made, and
by net losses allocated, to such REMIC Residual Certificateholder.
A REMIC Residual Certificateholder is not allowed to take into account any
net loss for any calendar quarter to the extent such net loss exceeds such REMIC
Residual Certificateholder's adjusted basis in its REMIC Residual Certificate as
of the close of such calendar quarter (determined without regard to such net
loss). Any loss that is not currently deductible by reason of this limitation
may be carried forward indefinitely to future calendar quarters and, subject to
the same limitation, may be used only to offset income from the REMIC Residual
Certificate. The ability of REMIC Residual Certificateholders to deduct net
losses may be subject to additional limitations under the Code, as to which
REMIC Residual Certificateholders should consult their tax advisors.
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Any distribution on a REMIC Residual Certificate will be treated as a
non-taxable return of capital to the extent it does not exceed the holder's
adjusted basis in such REMIC Residual Certificate. To the extent a distribution
on a REMIC Residual Certificate exceeds such adjusted basis, it will be treated
as gain from the sale of such REMIC Residual Certificate. Holders of certain
REMIC Residual Certificates may be entitled to distributions early in the term
of the related REMIC under circumstances in which their bases in such REMIC
Residual Certificates will not be sufficiently large that such distributions
will be treated as nontaxable returns of capital. Their bases in such REMIC
Residual Certificates will initially equal the amount paid for such REMIC
Residual Certificates and will be increased by their allocable shares of taxable
income of the Trust Fund. However, such bases increases may not occur until the
end of the calendar quarter, or perhaps the end of the calendar year, with
respect to which such REMIC taxable income is allocated to the REMIC Residual
Certificateholders. To the extent such REMIC Residual Certificateholders initial
bases are less than the distributions to such REMIC Residual Certificateholders,
and increases in such initial bases either occur after such distributions or
(together with their initial bases) are less than the amount of such
distributions, gain will be recognized to such REMIC Residual Certificateholders
on such distributions and will be treated as gain from the sale of their REMIC
Residual Certificates.
The effect of these rules is that a REMIC Residual Certificateholder may
not amortize its basis in a REMIC Residual Certificate, but may only recover its
basis through distributions, through the deduction of any net losses of the
REMIC or upon the sale of its REMIC Residual Certificate. See "--Sales of REMIC
Certificates." For a discussion of possible modifications of these rules that
may require adjustments to income of a holder of a REMIC Residual Certificate
other than an original holder in order to reflect any difference between the
cost of such REMIC Residual Certificate to such REMIC Residual Certificateholder
and the adjusted basis such REMIC Residual Certificate would have in the hands
of an original holder, see "--Taxation of Owners of REMIC Residual
Certificates--General."
Excess Inclusions. Any "excess inclusions" with respect to a REMIC Residual
Certificate will, with an exception discussed below for certain REMIC Residual
Certificates held by thrift institutions, be subject to federal income tax in
all events.
In general, the "excess inclusions" with respect to a REMIC Residual
Certificate for any calendar quarter will be the excess, if any, of (i) the sum
of the daily portions of REMIC taxable income allocable to such REMIC Residual
Certificate over (ii) the sum of the "daily accruals" (as defined below) for
each day during such quarter that such REMIC Residual Certificate was held by
such REMIC Residual Certificateholder. The daily accruals of a REMIC Residual
Certificateholder will be determined by allocating to each day during a calendar
quarter its ratable portion of the product of the "adjusted issue price" of the
REMIC Residual Certificate at the beginning of the calendar quarter and 120% of
the "long-term Federal rate" in effect on the Closing Date. For this purpose,
the adjusted issue price of a REMIC Residual Certificate as of the beginning of
any calendar quarter will be equal to the issue price of the REMIC Residual
Certificate, increased by the sum of the daily accruals for all prior quarters
and decreased (but not below zero) by any distributions made with respect to
such REMIC Residual Certificate before the beginning of such quarter. The issue
price of a REMIC Residual Certificate is the initial offering price to the
public (excluding bond houses and brokers) at which a substantial amount of the
REMIC Residual Certificates were sold. The "long-term Federal rate" is an
average of current yields on Treasury securities with a remaining term of
greater than nine years, computed and published monthly by the IRS.
For REMIC Residual Certificateholders, an excess inclusion (i) will not be
permitted to be offset by deductions, losses or loss carryovers from other
activities, (ii) will be treated as "unrelated business taxable income" to an
otherwise tax-exempt organization and (iii) will not be eligible for any rate
reduction or exemption under any applicable tax treaty with respect to the 30%
United States withholding tax imposed on distributions to REMIC Residual
Certificateholders that are foreign investors. See, however, "--Foreign
Investors in REMIC Certificates" below.
As an exception to the general rules described above, thrift institutions
are allowed to offset their excess inclusions with unrelated deductions, losses
or loss carryovers, but only if the REMIC Residual Certificates are considered
to have "significant value." The REMIC Regulations provide that in order to be
treated as having significant value, the REMIC Residual Certificates must have
an aggregate issue price, at least equal to two percent of the aggregate issue
prices of all of the related REMIC's Regular and Residual Certificates. In
addition, based on the Prepayment Assumption, the anticipated weighted average
life of the REMIC Residual Certificates must equal or exceed 20 percent of the
anticipated weighted average life of the REMIC, based on the Prepayment
Assumption and
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on any required or permitted clean up calls or required liquidation provided for
in the REMIC's organizational documents. Although it has not done so, the
Treasury also has authority to issue regulations that would treat the entire
amount of income accruing on a REMIC Residual Certificate as an excess inclusion
if the REMIC Residual Certificates are considered not to have "significant
value." The related Prospectus Supplement will disclose whether offered REMIC
Residual Certificates may be considered to have "significant value" under the
REMIC Regulations; provided, however, that any disclosure that a REMIC Residual
Certificate will have "significant value" will be based upon certain
assumptions, and the Depositor will make no representation that a REMIC Residual
Certificate will have "significant value" for purposes of the above-described
rules. The above-described exception for thrift institutions applies only to
those residual interests held directly by, and deductions, losses and loss
carryovers incurred by, such institutions (and not by other members of an
affiliated group of corporations filing a consolidated income tax return) or by
certain wholly-owned direct subsidiaries of such institutions formed or operated
exclusively in connection with the organization and operation of one or more
REMICs.
In the case of any REMIC Residual Certificates held by a real estate
investment trust, the aggregate excess inclusions with respect to such REMIC
Residual Certificates, reduced (but not below zero) by the real estate
investment trust taxable income (within the meaning of Section 857(b)(2) of the
Code, excluding any net capital gain), will be allocated among the shareholders
of such trust in proportion to the dividends received by such shareholders from
such trust, and any amount so allocated will be treated as an excess inclusion
with respect to a REMIC Residual Certificate as if held directly by such
shareholder. Treasury regulations yet to be issued could apply a similar rule to
regulated investment companies, common trust funds and certain cooperatives; the
REMIC Regulations currently do not address this subject.
Noneconomic REMIC Residual Certificates. Under the REMIC Regulations,
transfers of "noneconomic" REMIC Residual Certificates will be disregarded for
all federal income tax purposes if "a significant purpose of the transfer was to
enable the transferor to impede the assessment or collection of tax." If such
transfer is disregarded, the purported transferor will continue to remain liable
for any taxes due with respect to the income on such "noneconomic" REMIC
Residual Certificate. The REMIC Regulations provide that a REMIC Residual
Certificate is noneconomic unless, based on the Prepayment Assumption and on any
required or permitted clean up calls, or required liquidation provided for in
the REMIC's organizational documents, (1) the present value of the expected
future distributions (discounted using the "applicable Federal rate" for
obligations whose term ends on the close of the last quarter in which excess
inclusions are expected to accrue with respect to the REMIC Residual
Certificate, which rate is computed and published monthly by the IRS) on the
REMIC Residual Certificate equals at least the present value of the expected tax
on the anticipated excess inclusions, and (2) the transferor reasonably expects
that the transferee will receive distributions with respect to the REMIC
Residual Certificate at or after the time the taxes accrue on the anticipated
excess inclusions in an amount sufficient to satisfy the accrued taxes.
Accordingly, all transfers of REMIC Residual Certificates that may constitute
noneconomic residual interests will be subject to certain restrictions under the
terms of the related Pooling Agreement that are intended to reduce the
possibility of any such transfer being disregarded. Such restrictions will
require each party to a transfer to provide an affidavit that no purpose of such
transfer is to impede the assessment or collection of tax, including certain
representations as to the financial condition of the prospective transferee, as
to which the transferor is also required to make a reasonable investigation to
determine such transferee's historic payment of its debts and ability to
continue to pay its debts as they come due in the future. Prior to purchasing a
REMIC Residual Certificate, prospective purchasers should consider the
possibility that a purported transfer of such REMIC Residual Certificate by such
a purchaser to another purchaser at some future date may be disregarded in
accordance with the above-described rules which would result in the retention of
tax liability by such purchaser.
The related Prospectus Supplement will disclose whether offered REMIC
Residual Certificates may be considered "noneconomic" residual interests under
the REMIC Regulations; provided, however, that any disclosure that a REMIC
Residual Certificate will not be considered "noneconomic" will be based upon
certain assumptions, and the Depositor will make no representation that a REMIC
Residual Certificate will not be considered "noneconomic" for purposes of the
above-described rules. See "--Foreign Investors in REMIC Certificates--REMIC
Residual Certificates" below for additional restrictions applicable to transfers
of certain REMIC Residual Certificates to foreign persons.
Mark-to-Market Rules. On December 24, 1996, the IRS released final
regulations (the "Mark-to-Market Regulations") relating to the requirement that
a securities dealer mark to market securities held for sale to customers.
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This mark-to-market requirement applies to all securities owned by a dealer,
except to the extent that the dealer has specifically identified a security as
held for investment. The Mark-to-Market Regulations provide that for purposes of
this mark-to-market requirement, a REMIC Residual Certificate issued after
January 4, 1995 is not treated as a security and thus may not be marked to
market. Prospective purchasers of REMIC Residual Certificate should consult
their tax advisors regarding the possible application of the mark-to-market
requirement to REMIC Residual Certificates.
Possible Pass-Through of Miscellaneous Itemized Deductions. Fees and
expenses of a REMIC generally will be allocated to the holders of the related
REMIC Residual Certificates. The applicable Treasury regulations indicate,
however, that in the case of a REMIC that is similar to a single class grantor
trust, all or a portion of such fees and expenses should be allocated to the
holders of the related REMIC Regular Certificates. Unless otherwise stated in
the related Prospectus Supplement, such fees and expenses will be allocated to
holders of the related REMIC Residual Certificates in their entirety and not to
the holders of the related REMIC Regular Certificates.
With respect to REMIC Residual Certificates or REMIC Regular Certificates
the holders of which receive an allocation of fees and expenses in accordance
with the preceding discussion, if any holder thereof is an individual, estate or
trust, or a "pass-through entity" beneficially owned by one or more individuals,
estates or trusts, (i) an amount equal to such individual's, estate's or trust's
share of such fees and expenses will be added to the gross income of such holder
and (ii) such individual's, estate's or trust's share of such fees and expenses
will be treated as a miscellaneous itemized deduction allowable subject to the
limitation of Section 67 of the Code, which permits such deductions only to the
extent they exceed in the aggregate two percent of a taxpayer's adjusted gross
income. In addition, Section 68 of the Code provides that the amount of itemized
deductions otherwise allowable for an individual whose adjusted gross income
exceeds a specified amount will be reduced by the lesser of (i) 3% of the excess
of the individual's adjusted gross income over such amount or (ii) 80% of the
amount of itemized deductions otherwise allowable for the taxable year. The
amount of additional taxable income reportable by REMIC Certificateholders that
are subject to the limitations of either Section 67 or Section 68 of the Code
may be substantial. Furthermore, in determining the alternative minimum taxable
income of such a holder of a REMIC Certificate that is an individual, estate or
trust, or a "pass-through entity" beneficially owned by one or more individuals,
estates or trusts, no deduction will be allowed for such holder's allocable
portion of servicing fees and other miscellaneous itemized deductions of the
REMIC, even though an amount equal to the amount of such fees and other
deductions will be included in such holder's gross income. Accordingly, such
REMIC Certificates may not be appropriate investments for individuals, estates,
or trusts, or pass-through entities beneficially owned by one or more
individuals, estates or trusts. Such prospective investors should carefully
consult with their own tax advisors prior to making an investment in such
Certificates.
Sales of REMIC Certificates. If a REMIC Certificate is sold, the selling
Certificateholder will recognize gain or loss equal to the difference between
the amount realized on the sale and its adjusted basis in the REMIC Certificate.
The adjusted basis of a REMIC Regular Certificate generally will equal the cost
of such REMIC Regular Certificate to such Certificateholder, increased by income
reported by such Certificateholder with respect to such REMIC Regular
Certificate (including original issue discount and market discount income) and
reduced (but not below zero) by distributions on such REMIC Regular Certificate
received by such Certificateholder and by any amortized premium. The adjusted
basis of a REMIC Residual Certificate will be determined as described under
"--Taxation of Owners of REMIC Residual Certificates--Basis Rules, Net Losses
and Distributions." Except as provided in the following two paragraphs, any such
gain or loss will be capital gain or loss, provided such REMIC Certificate is
held as a capital asset (generally, property held for investment) within the
meaning of Section 1221 of the Code. The Code as of the date of this Prospectus
provides for a top marginal tax rate of 39.6% for individuals and a maximum
marginal rate for long-term capital gains of individuals of 20%. No such rate
differential exists for corporations. In addition, the distinction between a
capital gain or loss and ordinary income or loss remains relevant for other
purposes.
Gain from the sale of a REMIC Regular Certificate that might otherwise be
capital gain will be treated as ordinary income to the extent such gain does not
exceed the excess, if any, of (i) the amount that would have been includible in
the seller's income with respect to such REMIC Regular Certificate assuming that
income had accrued thereon at a rate equal to 110% of the "applicable Federal
rate" (generally, a rate based on an average of current yields on Treasury
securities having a maturity comparable to that of the Certificate based on the
application of the Prepayment Assumption to such Certificate, which rate is
computed and published monthly by the IRS), determined as of the date of
purchase of such REMIC Regular Certificate, over (ii) the amount of ordinary
income actually
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includible in the seller's income prior to such sale. In addition, gain
recognized on the sale of a REMIC Regular Certificate by a seller who purchased
such REMIC Regular Certificate at a market discount will be taxable as ordinary
income in an amount not exceeding the portion of such discount that accrued
during the period such REMIC Certificate was held by such holder, reduced by any
market discount included in income under the rules described above under
"--Taxation of Owners of REMIC Regular Certificates--Market Discount" and
"--Premium."
REMIC Certificates will be "evidences of indebtedness" within the meaning
of Section 582(c)(1) of the Code, so that gain or loss recognized from the sale
of a REMIC Certificate by a bank or thrift institution to which such section
applies will be ordinary income or loss.
A portion of any gain from the sale of a REMIC Regular Certificate that
might otherwise be capital gain may be treated as ordinary income to the extent
that such Certificate is held as part of a "conversion transaction" within the
meaning of Section 1258 of the Code. A conversion transaction generally is one
in which the taxpayer has taken two or more positions in the same or similar
property that reduce or eliminate market risk, if substantially all of the
taxpayer's return is attributable to the time value of the taxpayer's net
investment in such transaction. The amount of gain so realized in a conversion
transaction that is recharacterized as ordinary income generally will not exceed
the amount of interest that would have accrued on the taxpayer's net investment
at 120% of the appropriate "applicable Federal rate" (which rate is computed and
published monthly by the IRS) at the time the taxpayer enters into the
conversion transaction, subject to appropriate reduction for prior inclusion of
interest and other ordinary income items from the transaction.
Finally, a taxpayer may elect to have net capital gain taxed at ordinary
income rates rather than capital gains rates in order to include such net
capital gain in total net investment income for the taxable year, for purposes
of the rule that limits the deduction of interest on indebtedness incurred to
purchase or carry property held for investment to a taxpayer's net investment
income.
Except as may be provided in Treasury regulations yet to be issued, if the
seller of a REMIC Residual Certificate reacquires a REMIC Residual Certificate,
or acquires any other residual interest in a REMIC or any similar interest in a
"taxable mortgage pool" (as defined in Section 7701(i) of the Code) during the
period beginning six months before, and ending six months after, the date of
such sale, such sale will be subject to the "wash sale" rules of Section 1091 of
the Code. In that event, any loss realized by the REMIC Residual
Certificateholder on the sale will not be deductible, but instead will be added
to such REMIC Residual Certificateholder's adjusted basis in the newly-acquired
asset.
Prohibited Transactions Tax and Other Taxes. The Code imposes a tax on
REMICs equal to 100% of the net income derived from "prohibited transactions" (a
"Prohibited Transactions Tax"). In general, subject to certain specified
exceptions a prohibited transaction means the disposition of a Mortgage Loan,
the receipt of income from a source other than a Mortgage Loan or certain other
permitted investments, the receipt of compensation for services, or gain from
the disposition of an asset purchased with the payments on the Mortgage Loans
for temporary investment pending distribution on the REMIC Certificates. It is
not anticipated that the REMIC will engage in any prohibited transactions in
which it would recognize a material amount of net income.
In addition, certain contributions to a REMIC made after the day on which
the REMIC issues all of its interests could result in the imposition of a tax on
the REMIC equal to 100% of the value of the contributed property (a
"Contributions Tax"). Each Pooling Agreement will include provisions designed to
prevent the acceptance of any contributions that would be subject to such tax.
REMICs also are subject to federal income tax at the highest corporate rate
on "net income from foreclosure property," determined by reference to the rules
applicable to real estate investment trusts. "Net income from foreclosure
property" generally means gain from the sale of a foreclosure property that is
inventory property and gross income from foreclosure property other than
qualifying rents and other qualifying income for a real estate investment trust.
Unless otherwise disclosed in the related Prospectus Supplement, it is not
anticipated that any REMIC will recognize "net income from foreclosure property"
subject to federal income tax.
Unless otherwise disclosed in the related Prospectus Supplement, it is not
anticipated that any material state or local income or franchise tax will be
imposed on any REMIC.
Unless otherwise stated in the related Prospectus Supplement, and to the
extent permitted by then applicable laws, any Prohibited Transactions Tax,
Contributions Tax, tax on "net income from foreclosure property" or state or
local income or franchise tax that may be imposed on the REMIC will be borne by
the related Master Servicer, Special
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Servicer or Trustee in any case out of its own funds, provided that such person
has sufficient assets to do so, and provided further that such tax arises out of
a breach of such person's obligations under the related Pooling Agreement and in
respect of compliance with applicable laws and regulations. Any such tax not
borne by a Master Servicer, Special Servicer or Trustee will be charged against
the related Trust Fund resulting in a reduction in amounts payable to holders of
the related REMIC Certificates.
Tax and Restrictions on Transfers of REMIC Residual Certificates to Certain
Organizations. If a REMIC Residual Certificate is transferred to a "disqualified
organization" (as defined below), a tax would be imposed in an amount
(determined under the REMIC Regulations) equal to the product of (i) the present
value (discounted using the "applicable Federal rate" for obligations whose term
ends on the close of the last quarter in which excess inclusions are expected to
accrue with respect to the REMIC Residual Certificate, which rate is computed
and published monthly by the IRS) of the total anticipated excess inclusions
with respect to such REMIC Residual Certificate for periods after the transfer
and (ii) the highest marginal federal income tax rate applicable to
corporations. The anticipated excess inclusions must be determined as of the
date that the REMIC Residual Certificate is transferred and must be based on
events that have occurred up to the time of such transfer, the Prepayment
Assumption and any required or permitted clean up calls or required liquidation
provided for in the REMIC's organizational documents. Such a tax generally would
be imposed on the transferor of the REMIC Residual Certificate, except that
where such transfer is through an agent for a disqualified organization, the tax
would instead be imposed on such agent. However, a transferor of a REMIC
Residual Certificate would in no event be liable for such tax with respect to a
transfer if the transferee furnishes to the transferor an affidavit that the
transferee is not a disqualified organization and, as of the time of the
transfer, the transferor does not have actual knowledge that such affidavit is
false. Moreover, an entity will not qualify as a REMIC unless there are
reasonable arrangements designed to ensure that (i) residual interests in such
entity are not held by disqualified organizations and (ii) information necessary
for the application of the tax described herein will be made available.
Restrictions on the transfer of REMIC Residual Certificates and certain other
provisions that are intended to meet this requirement will be included in the
Pooling Agreement, and will be discussed more fully in any Prospectus Supplement
relating to the offering of any REMIC Residual Certificate.
In addition, if a "pass-through entity" (as defined below) includes in
income excess inclusions with respect to a REMIC Residual Certificate, and a
disqualified organization is the record holder of an interest in such entity,
then a tax will be imposed on such entity equal to the product of (i) the amount
of excess inclusions on the REMIC Residual Certificate that are allocable to the
interest in the pass-through entity held by such disqualified organization and
(ii) the highest marginal federal income tax rate imposed on corporations. A
pass-through entity will not be subject to this tax for any period, however, if
each record holder of an interest in such pass-through entity furnishes to such
pass-through entity (i) such holder's social security number and a statement
under penalty of perjury that such social security number is that of the record
holder or (ii) a statement under penalty of perjury that such record holder is
not a disqualified organization.
For these purposes, a "disqualified organization" means (i) the United
States, any State or political subdivision thereof, any foreign government, any
international organization, or any agency or instrumentality of the foregoing
(but would not include instrumentalities described in Section 168(h)(2)(D) of
the Code or the Federal Home Loan Mortgage Corporation), (ii) any organization
(other than a cooperative described in Section 521 of the Code) that is exempt
from federal income tax, unless it is subject to the tax imposed by Section 511
of the Code or (iii) any organization described in Section 1381(a)(2)(C) of the
Code. For these purposes, a "pass-through entity" means any regulated investment
company, real estate investment trust, trust, partnership or certain other
entities described in Section 860E(e)(6) of the Code. In addition, a person
holding an interest in a pass-through entity as a nominee for another person
will, with respect to such interest, be treated as a pass-through entity.
Termination. A REMIC will terminate immediately after the Distribution Date
following receipt by the REMIC of the final payment in respect of the Mortgage
Loans or upon a sale of the REMIC's assets following the adoption by the REMIC
of a plan of complete liquidation. The last distribution on a REMIC Regular
Certificate will be treated as a payment in retirement of a debt instrument. In
the case of a REMIC Residual Certificate, if the last distribution on such REMIC
Residual Certificate is less than the REMIC Residual Certificateholder's
adjusted basis in such REMIC Residual Certificate, such REMIC Residual
Certificateholder should (but may not) be treated as realizing a loss equal to
the amount of such difference. Such loss may be treated as a capital loss and
may be subject to the "wash sale" rules of Section 1091 of the Code.
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Reporting and Other Administrative Matters. Solely for purposes of the
administrative provisions of the Code, the REMIC will be treated as a
partnership and REMIC Residual Certificateholders will be treated as partners.
Unless otherwise stated in the related Prospectus Supplement, either the Trustee
or the Master Servicer, generally will hold at least a nominal amount of REMIC
Residual Certificates, will file REMIC federal income tax returns on behalf of
the related REMIC, and will be designated as and will act as the "tax matters
person" with respect to the REMIC in all respects.
As the tax matters person, the Trustee or the Master Servicer, as the case
may be, will, subject to certain notice requirements and various restrictions
and limitations, generally have the authority to act on behalf of the REMIC and
the REMIC Residual Certificateholders in connection with the administrative and
judicial review of items of income, deduction, gain or loss of the REMIC, as
well as the REMIC's classification. REMIC Residual Certificateholders will
generally be required to report such REMIC items consistently with their
treatment on the related REMIC's tax return and may in some circumstances be
bound by a settlement agreement between the Trustee or the Master Servicer, as
the case may be, as tax matters person, and the IRS concerning any such REMIC
item. Adjustments made to the REMIC tax return may require a REMIC Residual
Certificateholder to make corresponding adjustments on its return, and an audit
of the REMIC's tax return, or the adjustments resulting from such an audit,
could result in an audit of a REMIC Residual Certificateholder's return. No
REMIC will be registered as a tax shelter pursuant to Section 6111 of the Code
because it is not anticipated that any REMIC will have a net loss for any of the
first five taxable years of its existence. Any person that holds a REMIC
Residual Certificate as a nominee for another person may be required to furnish
to the related REMIC, in a manner to be provided in Treasury regulations, the
name and address of such person and other information.
Reporting of interest income, including any original issue discount, with
respect to REMIC Regular Certificates is required annually, and may be required
more frequently under Treasury regulations. These information reports generally
are required to be sent to individual holders of REMIC Regular Interests and the
IRS; holders of REMIC Regular Certificates that are corporations, trusts,
securities dealers and certain other non-individuals will be provided interest
and original issue discount income information and the information set forth in
the following paragraph upon request in accordance with the requirements of the
applicable regulations. The information must be provided by the later of 30 days
after the end of the quarter for which the information was requested, or two
weeks after the receipt of the request. The REMIC must also comply with rules
requiring a REMIC Regular Certificate issued with original issue discount to
disclose on its face the amount of original issue discount and the issue date,
and requiring such information to be reported to the IRS. Reporting with respect
to the REMIC Residual Certificates, including income, excess inclusions,
investment expenses and relevant information regarding qualification of the
REMIC's assets will be made as required under the Treasury regulations,
generally on a quarterly basis.
As applicable, the REMIC Regular Certificate information reports will
include a statement of the adjusted issue price of the REMIC Regular Certificate
at the beginning of each accrual period. In addition, the reports will include
information required by regulations with respect to computing the accrual of any
market discount. Because exact computation of the accrual of market discount on
a constant yield method would require information relating to the holder's
purchase price that the REMIC may not have, such regulations only require that
information pertaining to the appropriate proportionate method of accruing
market discount be provided. See "--Taxation of Owners of REMIC Regular
Certificates--Market Discount."
The responsibility for complying with the foregoing reporting rules will be
borne by either the Trustee or the Master Servicer, unless otherwise stated in
the related Prospectus Supplement.
Backup Withholding with Respect to REMIC Certificates. Payments of interest
and principal, as well as payments of proceeds from the sale of REMIC
Certificates, may be subject to the "backup withholding tax" under Section 3406
of the Code at a rate of 31% if recipients of such payments fail to furnish to
the payor certain information, including their taxpayer identification numbers,
or otherwise fail to establish an exemption from such tax. Any amounts deducted
and withheld from a distribution to a recipient would be allowed as a credit
against such recipient's federal income tax. Furthermore, certain penalties may
be imposed by the IRS on a recipient of payments that is required to supply
information but that does not do so in the proper manner.
Foreign Investors in REMIC Certificates. A REMIC Regular Certificateholder
that is not a "United States person" (as defined below) and is not subject to
federal income tax as a result of any direct or indirect connection to the
United States in addition to its ownership of a REMIC Regular Certificate will
not, unless otherwise disclosed in
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the related Prospectus Supplement, be subject to United States federal income or
withholding tax in respect of a distribution on a REMIC Regular Certificate,
provided that the holder complies to the extent necessary with certain
identification requirements (including delivery of a statement, signed by the
Certificateholder under penalties of perjury, certifying that such
Certificateholder is not a United States person and providing the name and
address of such Certificateholder). For these purposes, "United States person"
means a citizen or resident of the United States, a corporation, partnership or
other entity created or organized in, or under the laws of, the United States or
any political subdivision thereof, an estate whose income from sources without
the United States is includible in gross income for United States federal income
tax purposes regardless of its connection with the conduct of a trade or
business within the United States, or a trust if a court within the U.S. is able
to exercise primary supervision over the administration of the trust and one or
more U.S. persons have the authority to control all substantial decisions of the
trust. It is possible that the IRS may assert the foregoing withholding tax
exemption should not apply with respect to interest distributed on a REMIC
Regular Certificate that is held by (i) a REMIC Residual Certificateholder that
owns directly or indirectly a 10% or greater interest in the REMIC Residual
Certificates or (ii) to the extent of the amount of interest paid by the related
Mortgagor on a particular Mortgage Loan, (A) a REMIC Regular Certificateholder
that owns a 10% or greater ownership interest in such Mortgagor or (B) a REMIC
Regular Certificateholder that is a controlled foreign corporation as to the
United States of which such Mortgagor is a "United States shareholder" within
the meaning of Section 951(b) of the Code. If the holder does not qualify for
exemption, distributions of interest, including distributions in respect of
accrued original issue discount, to such holder may be subject to a tax rate of
30%, subject to reduction under any applicable tax treaty.
In addition, the foregoing rules will not apply to exempt a United States
shareholder of a controlled foreign corporation from taxation on such United
States shareholder's allocable portion of the interest income received by such
controlled foreign corporation.
Further, it appears that a REMIC Regular Certificate would not be included
in the estate of a non-resident alien individual and would not be subject to
United States estate taxes. However, Certificateholders who are non-resident
alien individuals should consult their tax advisors concerning this question.
Transfers of REMIC Residual Certificates to investors that are not United States
persons will be prohibited under the related Pooling Agreement.
GRANTOR TRUST FUNDS
Classification of Grantor Trust Funds. With respect to each series of
Grantor Trust Certificates, counsel to the Depositor will deliver its opinion to
the effect that, assuming compliance with all provisions of the related Pooling
Agreement, the related Grantor Trust Fund will be classified as a grantor trust
under subpart E, part I of subchapter J of the Code and not as a partnership or
an association taxable as a corporation. Accordingly, each holder of a Grantor
Trust Certificate generally will be treated as the owner of an interest in the
Mortgage Loans included in the Grantor Trust Fund.
For purposes of the following discussion, a Grantor Trust Certificate
representing an undivided equitable ownership interest in the principal of the
Mortgage Loans constituting the related Grantor Trust Fund, together with
interest thereon at a pass-through rate, will be referred to as a "Grantor Trust
Fractional Interest Certificate." A Grantor Trust Certificate representing
ownership of all or a portion of the difference between interest paid on the
Mortgage Loans constituting the related Grantor Trust Fund (net of normal
administration fees and any spread) and interest paid to the holders of Grantor
Trust Fractional Interest Certificates issued with respect to such Grantor Trust
Fund will be referred to as a "Grantor Trust Strip Certificate." A Grantor Trust
Strip Certificate may also evidence a nominal ownership interest in the
principal of the Mortgage Loans constituting the related Grantor Trust Fund.
CHARACTERIZATION OF INVESTMENTS IN GRANTOR TRUST CERTIFICATES
Grantor Trust Fractional Interest Certificates. In the case of Grantor
Trust Fractional Interest Certificates, unless otherwise disclosed in the
related Prospectus Supplement, counsel to the Depositor will deliver an opinion
that, in general, Grantor Trust Fractional Interest Certificates will represent
interests in (i) assets described in Section 7701(a)(19)(C) of the Code; (ii)
"obligation[s] (including any participation or certificate of beneficial
ownership therein) which . . . [are] principally secured by an interest in real
property" within the meaning of Section 860G(a)(3)(A) of the Code; and (iii)
"real estate assets" within the meaning of Section 856(c)(5)(A) of the Code. In
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addition, counsel to the Depositor will deliver an opinion that interest on
Grantor Trust Fractional Interest Certificates will to the same extent be
considered "interest on obligations secured by mortgages on real property or on
interests in real property" within the meaning of Section 856(c)(3)(B) of the
Code.
Grantor Trust Strip Certificates. Even if Grantor Trust Strip Certificates
evidence an interest in a Grantor Trust Fund consisting of Mortgage Loans that
are assets described in Section 7701(a)(19)(C) of the Code and "real estate
assets" within the meaning of Section 856(c)(5)(A) of the Code, and the interest
on which is "interest on obligations secured by mortgages on real property"
within the meaning of Section 856(c)(3)(B) of the Code, it is unclear whether
the Grantor Trust Strip Certificates, and the income therefrom, will be so
characterized. However, the policies underlying such sections (namely, to
encourage or require investments in mortgage loans by thrift institutions and
real estate investment trusts) may suggest that such characterization is
appropriate. Counsel to the Depositor will not deliver any opinion on these
questions. Prospective purchasers to which such characterization of an
investment in Grantor Trust Strip Certificates is material should consult their
tax advisors regarding whether the Grantor Trust Strip Certificates, and the
income therefrom, will be so characterized.
The Grantor Trust Strip Certificates will be "obligation[s] (including any
participation or certificate of beneficial ownership therein) which . . . [are]
principally secured by an interest in real property" within the meaning of
Section 860G(a)(3)(A) of the Code.
TAXATION OF OWNERS OF GRANTOR TRUST FRACTIONAL INTEREST CERTIFICATES
General. Holders of a particular series of Grantor Trust Fractional
Interest Certificates generally will be required to report on their federal
income tax returns their shares of the entire income from the Mortgage Loans
(including amounts used to pay reasonable servicing fees and other expenses) and
will be entitled to deduct their shares of any such reasonable servicing fees
and other expenses. Because of stripped interests, market or original issue
discount, or premium, the amount includible in income on account of a Grantor
Trust Fractional Interest Certificate may differ significantly from the amount
distributable thereon representing interest on the Mortgage Loans. Under Section
67 of the Code, an individual, estate or trust holding a Grantor Trust
Fractional Interest Certificate directly or through certain pass-through
entities will be allowed a deduction for such reasonable servicing fees and
expenses only to the extent that the aggregate of such holder's miscellaneous
itemized deductions exceeds two percent of such holder's adjusted gross income.
In addition, Section 68 of the Code provides that the amount of itemized
deductions otherwise allowable for an individual whose adjusted gross income
exceeds a specified amount will be reduced by the lesser of (i) 3% of the excess
of the individual's adjusted gross income over such amount or (ii) 80% of the
amount of itemized deductions otherwise allowable for the taxable year. The
amount of additional taxable income reportable by holders of Grantor Trust
Fractional Interest Certificates who are subject to the limitations of either
Section 67 or Section 68 of the Code may be substantial. Further,
Certificateholders (other than corporations) subject to the alternative minimum
tax may not deduct miscellaneous itemized deductions in determining such
holder's alternative minimum taxable income. Although it is not entirely clear,
it appears that in transactions in which multiple classes of Grantor Trust
Certificates (including Grantor Trust Strip Certificates) are issued, such fees
and expenses should be allocated among the classes of Grantor Trust Certificates
using a method that recognizes that each such class benefits from the related
services. In the absence of statutory or administrative clarification as to the
method to be used, it currently is intended to base information returns or
reports to the IRS and Certificateholders on a method that allocates such
expenses among classes of Grantor Trust Certificates with respect to each period
based on the distributions made to each such class during that period.
The federal income tax treatment of Grantor Trust Fractional Interest
Certificates of any series will depend on whether they are subject to the
"stripped bond" rules of Section 1286 of the Code. Grantor Trust Fractional
Interest Certificates may be subject to those rules if (i) a class of Grantor
Trust Strip Certificates is issued as part of the same series of Certificates or
(ii) the Depositor or any of its affiliates retains (for its own account or for
purposes of resale) a right to receive a specified portion of the interest
payable on a Mortgage Asset. Further, the IRS has ruled that an unreasonably
high servicing fee retained by a seller or servicer will be treated as a
retained ownership interest in mortgages that constitutes a stripped coupon. For
purposes of determining what constitutes reasonable servicing fees for various
types of mortgages the IRS has established certain "safe harbors." The servicing
fees paid with respect to the Mortgage Loans for certain series of Grantor Trust
Certificates may be higher than the "safe harbors" and, accordingly, may not
constitute reasonable servicing compensation. The related Prospectus Supplement
will include information regarding servicing fees paid to a Master Servicer, a
Special Servicer, any Sub-Servicer or their respective affiliates necessary to
determine whether the preceding "safe harbor" rules apply.
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If Stripped Bond Rules Apply. If the stripped bond rules apply, each
Grantor Trust Fractional Interest Certificate will be treated as having been
issued with "original issue discount" within the meaning of Section 1273(a) of
the Code, subject, however, to the discussion below regarding the treatment of
certain stripped bonds as market discount bonds and the discussion regarding de
minimis market discount. See "--Taxation of Grantor Trust Fractional Interest
Certificates--Market Discount." Under the stripped bond rules, the holder of a
Grantor Trust Fractional Interest Certificate (whether a cash or accrual method
taxpayer) will be required to report interest income from its Grantor Trust
Fractional Interest Certificate for each month in an amount equal to the income
that accrues on such Certificate in that month calculated under a constant yield
method, in accordance with the rules of the Code relating to original issue
discount.
The original issue discount on a Grantor Trust Fractional Interest
Certificate will be the excess of such Certificate's stated redemption price
over its issue price. The issue price of a Grantor Trust Fractional Interest
Certificate as to any purchaser will be equal to the price paid by such
purchaser for the Grantor Trust Fractional Interest Certificate. The stated
redemption price of a Grantor Trust Fractional Interest Certificate will be the
sum of all payments to be made on such Certificate, other than "qualified stated
interest," if any, as well as such Certificate's share of reasonable servicing
fees and other expenses. See "--Taxation of Grantor Trust Fractional Interest
Certificates--If Stripped Bond Rules Do Not Apply" for a definition of
"qualified stated interest." In general, the amount of such income that accrues
in any month would equal the product of such holder's adjusted basis in such
Grantor Trust Fractional Interest Certificate at the beginning of such month
(see "--Sales of Grantor Trust Certificates") and the yield of such Grantor
Trust Fractional Interest Certificate to such holder. Such yield would be
computed at the rate (compounded based on the regular interval between payment
dates) that, if used to discount the holder's share of future payments on the
Mortgage Loans, would cause the present value of those future payments to equal
the price at which the holder purchased such Certificate. In computing yield
under the stripped bond rules, a Certificateholder's share of future payments on
the Mortgage Loans will not include any payments made in respect of any spread
or any other ownership interest in the Mortgage Loans retained by the Depositor,
a Master Servicer, a Special Servicer, any Sub-Servicer or their respective
affiliates, but will include such Certificateholder's share of any reasonable
servicing fees and other expenses.
Section 1272(a)(6) of the Code requires (i) the use of a reasonable
prepayment assumption in accruing original issue discount and (ii) adjustments
in the accrual of original issue discount when prepayments do not conform to the
prepayment assumption, with respect to certain categories of debt instruments,
and regulations could be adopted applying those provisions to the Grantor Trust
Fractional Interest Certificates. It is unclear whether those provisions would
be applicable to the Grantor Trust Fractional Interest Certificates or whether
use of a reasonable prepayment assumption may be required or permitted without
reliance on these rules. It is also uncertain, if a prepayment assumption is
used, whether the assumed prepayment rate would be determined based on
conditions at the time of the first sale of the Grantor Trust Fractional
Interest Certificate or, with respect to any holder, at the time of purchase of
the Grantor Trust Fractional Interest Certificate by that holder.
Certificateholders are advised to consult their own tax advisors concerning
reporting original issue discount in general and, in particular, whether a
prepayment assumption should be used in reporting original issue discount with
respect to Grantor Trust Fractional Interest Certificates.
In the case of a Grantor Trust Fractional Interest Certificate acquired at
a price equal to the principal amount of the Mortgage Loans allocable to such
Certificate, the use of a prepayment assumption generally would not have any
significant effect on the yield used in calculating accruals of interest income.
In the case, however, of a Grantor Trust Fractional Interest Certificate
acquired at a discount or premium (that is, at a price less than or greater than
such principal amount, respectively), the use of a reasonable prepayment
assumption would increase or decrease such yield, and thus accelerate or
decelerate, respectively, the reporting of income.
If a prepayment assumption is not used, then when a Mortgage Loan prepays
in full, the holder of a Grantor Trust Fractional Interest Certificate acquired
at a discount or a premium generally will recognize ordinary income or loss
equal to the difference between the portion of the prepaid principal amount of
the Mortgage Loan that is allocable to such Certificate and the portion of the
adjusted basis of such Certificate that is allocable to such Certificateholder's
interest in the Mortgage Loan. If a prepayment assumption is used, it appears
that no separate item of income or loss should be recognized upon a prepayment.
Instead, a prepayment should be treated as a partial payment of the stated
redemption price of the Grantor Trust Fractional Interest Certificate and
accounted for under a method similar to that described for taking account of
original issue discount on REMIC Regular Certificates. See "--REMICs--Taxation
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of Owners of REMIC Regular Certificates--Original Issue Discount." It is unclear
whether any other adjustments would be required to reflect differences between
an assumed prepayment rate and the actual rate of prepayments.
In the absence of statutory or administrative clarification, it is
currently intended to base information reports or returns to the IRS and
Certificateholders in transactions subject to the stripped bond rules on a
prepayment assumption (the "Prepayment Assumption") that will be disclosed in
the related Prospectus Supplement and on a constant yield computed using a
representative initial offering price for each class of Certificates. However,
neither the Depositor nor any other person will make any representation that the
Mortgage Loans will in fact prepay at a rate conforming to such Prepayment
Assumption or any other rate and Certificateholders should bear in mind that the
use of a representative initial offering price will mean that such information
returns or reports, even if otherwise accepted as accurate by the IRS, will in
any event be accurate only as to the initial Certificateholders of each series
who bought at that price.
Under Treasury regulation Section 1.1286-1T, certain stripped bonds are to
be treated as market discount bonds and, accordingly, any purchaser of such a
bond is to account for any discount on the bond as market discount rather than
original issue discount. This treatment only applies, however, if immediately
after the most recent disposition of the bond by a person stripping one or more
coupons from the bond and disposing of the bond or coupon (i) there is no
original issue discount (or only a de minimis amount of original issue discount)
or (ii) the annual stated rate of interest payable on the original bond is no
more than one percentage point lower than the gross interest rate payable on the
original mortgage loan (before subtracting any servicing fee or any stripped
coupon). If interest payable on a Grantor Trust Fractional Interest Certificate
is more than one percentage point lower than the gross interest rate payable on
the Mortgage Loans, the related Prospectus Supplement will disclose that fact.
If the original issue discount or market discount on a Grantor Trust Fractional
Interest Certificate determined under the stripped bond rules is less than 0.25%
of the stated redemption price multiplied by the weighted average maturity of
the Mortgage Loans, then such original issue discount or market discount will be
considered to be de minimis. Original issue discount or market discount of only
a de minimis amount will be included in income in the same manner as de minimis
original issue and market discount described in "--Taxation of Owners of Grantor
Trust Fractional Interest Certificates--If Stripped Bond Rules Do Not Apply" and
"--Market Discount."
If Stripped Bond Rules Do Not Apply. Subject to the discussion below on
original issue discount, if the stripped bond rules do not apply to a Grantor
Trust Fractional Interest Certificate, the Certificateholder will be required to
report its share of the interest income on the Mortgage Loans in accordance with
such Certificateholder's normal method of accounting. The original issue
discount rules will apply to a Grantor Trust Fractional Interest Certificate to
the extent it evidences an interest in Mortgage Loans issued with original issue
discount.
The original issue discount, if any, on the Mortgage Loans will equal the
difference between the stated redemption price of such Mortgage Loans and their
issue price. Under the OID Regulations, the stated redemption price is equal to
the total of all payments to be made on such Mortgage Loan other than "qualified
stated interest." "Qualified stated interest" includes interest that is
unconditionally payable at least annually at a single fixed rate, at a
"qualified floating rate," or at an "objective rate," a combination of a single
fixed rate and one or more "qualified floating rates" or one "qualified inverse
floating rate," or a combination of "qualified floating rates" that does not
operate in a manner that accelerates or defers interest payments on such
Mortgage Loan. In general, the issue price of a Mortgage Loan will be the amount
received by the borrower from the lender under the terms of the Mortgage Loan,
less any "points" paid by the borrower, and the stated redemption price of a
Mortgage Loan will equal its principal amount, unless the Mortgage Loan provides
for an initial below-market rate of interest or the acceleration or the deferral
of interest payments.
In the case of Mortgage Loans bearing adjustable or variable interest
rates, the related Prospectus Supplement will describe the manner in which such
rules will be applied with respect to those Mortgage Loans in preparing
information returns to the Certificateholders and the IRS.
Notwithstanding the general definition of original issue discount, original
issue discount will be considered to be de minimis if such original issue
discount is less than 0.25% of the stated redemption price multiplied by the
weighted average maturity of the Mortgage Loan. For this purpose, the weighted
average maturity of the Mortgage Loan will be computed as the sum of the amounts
determined, as to each payment included in the stated redemption price of such
Mortgage Loan, by multiplying (i) the number of complete years (rounding down
for partial years) from the issue date until such payment is expected to be made
by (ii) a fraction, the numerator of which is the amount of the payment and
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the denominator of which is the stated redemption price of the Mortgage Loan.
Under the OID Regulations, original issue discount of only a de minimis amount
(other than de minimis original issue discount attributable to a so-called
"teaser" rate or initial interest holiday) will be included in income as each
payment of stated principal price is made, based on the product of the total
amount of such de minimis original issue discount and a fraction, the numerator
of which is the amount of each such payment and the denominator of which is the
outstanding stated principal amount of the Mortgage Loan. The OID Regulations
also permit a Certificateholder to elect to accrue de minimis original issue
discount into income currently based on a constant yield method. See "--Taxation
of Owners of Grantor Trust Fractional Interest Certificates--Market Discount"
below.
If original issue discount is in excess of a de minimis amount, all
original issue discount with respect to a Mortgage Loan will be required to be
accrued and reported in income each month, based on a constant yield. The OID
Regulations suggest that no prepayment assumption is appropriate in computing
the yield on prepayable obligations issued with original issue discount. In the
absence of statutory or administrative clarification, it currently is not
intended to base information reports or returns to the IRS and
Certificateholders on the use of a prepayment assumption in transactions not
subject to the stripped bond rules. However, Section 1272(a)(6) of the Code may
require that a prepayment assumption be made in computing yield with respect to
all mortgage-backed securities. Certificateholders are advised to consult their
own tax advisors concerning whether a prepayment assumption should be used in
reporting original issue discount with respect to Grantor Trust Fractional
Interest Certificates. Certificateholders should refer to the related Prospectus
Supplement with respect to each series to determine whether and in what manner
the original issue discount rules will apply to Mortgage Loans in such series.
A purchaser of a Grantor Trust Fractional Interest Certificate that
purchases such Grantor Trust Fractional Interest Certificate at a cost less than
such Certificate's allocable portion of the aggregate remaining stated
redemption price of the Mortgage Loans held in the related Trust Fund will also
be required to include in gross income such Certificate's daily portions of any
original issue discount with respect to such Mortgage Loans. However, each such
daily portion will be reduced, if the cost of such Grantor Trust Fractional
Interest Certificate to such purchaser is in excess of such Certificate's
allocable portion of the aggregate "adjusted issue prices" of the Mortgage Loans
held in the related Trust Fund, approximately in proportion to the ratio such
excess bears to such Certificate's allocable portion of the aggregate original
issue discount remaining to be accrued on such Mortgage Loans. The adjusted
issue price of a Mortgage Loan on any given day equals the sum of (i) the
adjusted issue price (or, in the case of the first accrual period, the issue
price) of such Mortgage Loan at the beginning of the accrual period that
includes such day and (ii) the daily portions of original issue discount for all
days during such accrual period prior to such day. The adjusted issue price of a
Mortgage Loan at the beginning of any accrual period will equal the issue price
of such Mortgage Loan, increased by the aggregate amount of original issue
discount with respect to such Mortgage Loan that accrued in prior accrual
periods, and reduced by the amount of any payments made on such Mortgage Loan in
prior accrual periods of amounts included in its stated redemption price.
The Trustee or Master Servicer, as applicable, will provide to any holder
of a Grantor Trust Fractional Interest Certificate such information as such
holder may reasonably request from time to time with respect to original issue
discount accruing on Grantor Trust Fractional Interest Certificates. See
"--Grantor Trust Reporting" below.
Market Discount. If the stripped bond rules do not apply to the Grantor
Trust Fractional Interest Certificate, a Certificateholder may be subject to the
market discount rules of Sections 1276 through 1278 of the Code to the extent an
interest in a Mortgage Loan is considered to have been purchased at a "market
discount," that is, in the case of a Mortgage Loan issued without original issue
discount, at a purchase price less than its remaining stated redemption price
(as defined above), or in the case of a Mortgage Loan issued with original issue
discount, at a purchase price less than its adjusted issue price (as defined
above). If market discount is in excess of a de minimis amount (as described
below), the holder generally will be required to include in income in each month
the amount of such discount that has accrued (under the rules described in the
next paragraph) through such month that has not previously been included in
income, but limited, in the case of the portion of such discount that is
allocable to any Mortgage Loan, to the payment of stated redemption price on
such Mortgage Loan that is received by (or, in the case of accrual basis
Certificateholders, due to) the Trust Fund in that month. A Certificateholder
may elect to include market discount in income currently as it accrues (under a
constant yield method based on the yield of the Certificate to such holder)
rather than including it on a deferred basis in accordance with the foregoing.
If made, such election will apply to all market discount bonds acquired by such
Certificateholder during or after the first taxable year to which such election
applies. In addition, the OID Regulations would permit a Certificateholder to
elect to accrue all interest, discount
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(including de minimis market or original issue discount) and premium in income
as interest, based on a constant yield method. If such an election were made
with respect to a Mortgage Loan with market discount, the Certificateholder
would be deemed to have made an election to include currently market discount in
income with respect to all other debt instruments having market discount that
such Certificateholder acquires during the taxable year of the election and
thereafter, and possibly previously acquired instruments. Similarly, a
Certificateholder that made this election for a Certificate acquired at a
premium would be deemed to have made an election to amortize bond premium with
respect to all debt instruments having amortizable bond premium that such
Certificateholder owns or acquires. See "--REMICs--Taxation of Owners of REMIC
Regular Certificates--Premium." Each of these elections to accrue interest,
discount and premium with respect to a Certificate on a constant yield method or
as interest is irrevocable.
Section 1276(b)(3) of the Code authorized the Treasury Department to issue
regulations providing for the method for accruing market discount on debt
instruments, the principal of which is payable in more than one installment.
Until such time as regulations are issued by the Treasury Department, certain
rules described in the Committee Report apply. Under those rules, in each
accrual period market discount on the Mortgage Loans should accrue, at the
Certificateholder's option: (i) on the basis of a constant yield method, (ii) in
the case of a Mortgage Loan issued without original issue discount, in an amount
that bears the same ratio to the total remaining market discount as the stated
interest paid in the accrual period bears to the total stated interest remaining
to be paid on the Mortgage Loan as of the beginning of the accrual period, or
(iii) in the case of a Mortgage Loan issued with original issue discount, in an
amount that bears the same ratio to the total remaining market discount as the
original issue discount accrued in the accrual period bears to the total
original issue discount remaining at the beginning of the accrual period. The
prepayment assumption, if any, used in calculating the accrual of original issue
discount is to be used in calculating the accrual of market discount. The effect
of using a prepayment assumption could be to accelerate the reporting of such
discount income. Because the regulations referred to in this paragraph have not
been issued, it is not possible to predict what effect such regulations might
have on the tax treatment of a Mortgage Loan purchased at a discount in the
secondary market.
Because the Mortgage Loans will provide for periodic payments of stated
redemption price, such discount may be required to be included in income at a
rate that is not significantly slower than the rate at which such discount would
be included in income if it were original issue discount.
Market discount with respect to Mortgage Loans generally will be considered
to be de minimis if it is less than 0.25% of the stated redemption price of the
Mortgage Loans multiplied by the number of complete years to maturity remaining
after the date of its purchase. In interpreting a similar rule with respect to
original issue discount on obligations payable in installments, the OID
Regulations refer to the weighted average maturity of obligations, and it is
likely that the same rule will be applied with respect to market discount,
presumably taking into account the prepayment assumption used, if any. The
effect of using a prepayment assumption could be to accelerate the reporting of
such discount income. If market discount is treated as de minimis under the
foregoing rule, it appears that actual discount would be treated in a manner
similar to original issue discount of a de minimis amount. See "--Taxation of
Owners of Grantor Trust Fractional Interest Certificates--If Stripped Bond Rules
Do Not Apply."
Further, under the rules described in "--REMICs--Taxation of Owners of
REMIC Regular Certificates--Market Discount," any discount that is not original
issue discount and exceeds a de minimis amount may require the deferral of
interest expense deductions attributable to accrued market discount not yet
includible in income, unless an election has been made to report market discount
currently as it accrues. This rule applies without regard to the origination
dates of the Mortgage Loans.
Premium. If a Certificateholder is treated as acquiring the underlying
Mortgage Loans at a premium, that is, at a price in excess of their remaining
stated redemption price, such Certificateholder may elect under Section 171 of
the Code to amortize using a constant yield method the portion of such premium
allocable to Mortgage Loans originated after September 27, 1985. Amortizable
premium is treated as an offset to interest income on the related debt
instrument, rather than as a separate interest deduction. However, premium
allocable to Mortgage Loans originated before September 28, 1985 or to Mortgage
Loans for which an amortization election is not made, should be allocated among
the payments of stated redemption price on the Mortgage Loan and be allowed as a
deduction as such payments are made (or, for a Certificateholder using the
accrual method of accounting, when such payments of stated redemption price are
due).
It is unclear whether a prepayment assumption should be used in computing
amortization of premium allowable under Section 171 of the Code. If premium is
not subject to amortization using a prepayment assumption and a
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Mortgage Loan prepays in full, the holder of a Grantor Trust Fractional Interest
Certificate acquired at a premium should recognize a loss, equal to the
difference between the portion of the prepaid principal amount of the Mortgage
Loan that is allocable to the Certificate and the portion of the adjusted basis
of the Certificate that is allocable to the Mortgage Loan. If a prepayment
assumption is used to amortize such premium, it appears that such a loss would
be unavailable. Instead, if a prepayment assumption is used, a prepayment should
be treated as a partial payment of the stated redemption price of the Grantor
Trust Fractional Interest Certificate and accounted for under a method similar
to that described for taking account of original issue discount on REMIC Regular
Certificates. See "--REMICs--Taxation of Owners of REMIC Regular
Certificates--Original Issue Discount." It is unclear whether any other
adjustments would be required to reflect differences between the prepayment
assumption used, if any, and the actual rate of prepayments.
Taxation of Owners of Grantor Trust Strip Certificates. The "stripped
coupon" rules of Section 1286 of the Code will apply to the Grantor Trust Strip
Certificates. Except as described above in "--Taxation of Owners of Grantor
Trust Fractional Interest Certificates--If Stripped Bond Rules Apply," no
regulations or published rulings under Section 1286 of the Code have been issued
and some uncertainty exists as to how it will be applied to securities such as
the Grantor Trust Strip Certificates. Accordingly, holders of Grantor Trust
Strip Certificates should consult their own tax advisors concerning the method
to be used in reporting income or loss with respect to such Certificates.
The OID Regulations do not apply to "stripped coupons," although they
provide general guidance as to how the original issue discount sections of the
Code will be applied. In addition, the discussion below is subject to the
discussion under "--Possible Application of Proposed Contingent Payment Rules"
below and assumes that the holder of a Grantor Trust Strip Certificate will not
own any Grantor Trust Fractional Interest Certificates.
Under the stripped coupon rules, it appears that original issue discount
will be required to be accrued in each month on the Grantor Trust Strip
Certificates based on a constant yield method. In effect, each holder of Grantor
Trust Strip Certificates would include as interest income in each month an
amount equal to the product of such holder's adjusted basis in such Grantor
Trust Strip Certificate at the beginning of such month and the yield of such
Grantor Trust Strip Certificate to such holder. Such yield would be calculated
based on the price paid for that Grantor Trust Strip Certificate by its holder
and the payments remaining to be made thereon at the time of the purchase, plus
an allocable portion of the servicing fees and expenses to be paid with respect
to the Mortgage Loans. See "--Taxation of Owners of Grantor Trust Fractional
Interest Certificates--If Stripped Bond Rules Apply" above.
As noted above, Section 1272(a)(6) of the Code requires that a prepayment
assumption be used in computing the accrual of original issue discount with
respect to certain categories of debt instruments, and that adjustments be made
in the amount and rate of accrual of such discount when prepayments do not
conform to such prepayment assumption. Regulations could be adopted applying
those provisions to the Grantor Trust Strip Certificates. It is unclear whether
those provisions would be applicable to the Grantor Trust Strip Certificates or
whether use of a prepayment assumption may be required or permitted in the
absence of such regulations. It is also uncertain, if a prepayment assumption is
used, whether the assumed prepayment rate would be determined based on
conditions at the time of the first sale of the Grantor Trust Strip Certificate
or, with respect to any subsequent holder, at the time of purchase of the
Grantor Trust Strip Certificate by that holder.
The accrual of income on the Grantor Trust Strip Certificates will be
significantly slower if a prepayment assumption is permitted to be made than if
yield is computed assuming no prepayments. In the absence of statutory or
administrative clarification, it currently is intended to base information
returns or reports to the IRS and Certificateholders on the Prepayment
Assumption disclosed in the related Prospectus Supplement and on a constant
yield computed using a representative initial offering price for each class of
Certificates. However, neither the Depositor nor any other person will make any
representation that the Mortgage Loans will in fact prepay at a rate conforming
to the Prepayment Assumption or at any other rate and Certificateholders should
bear in mind that the use of a representative initial offering price will mean
that such information returns or reports, even if otherwise accepted as accurate
by the IRS, will in any event be accurate only as to the initial
Certificateholders of each series who bought at that price. Prospective
purchasers of the Grantor Trust Strip Certificates should consult their own tax
advisors regarding the use of the Prepayment Assumption.
It is unclear under what circumstances, if any, the prepayment of a
Mortgage Loan will give rise to a loss to the holder of a Grantor Trust Strip
Certificate. If a Grantor Trust Strip Certificate is treated as a single
instrument (rather than an interest in discrete mortgage loans) and the effect
of prepayments is taken into account in computing yield
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with respect to such Grantor Trust Strip Certificate, it appears that no loss
may be available as a result of any particular prepayment unless prepayments
occur at a rate faster than the Prepayment Assumption. However, if a Grantor
Trust Strip Certificate is treated as an interest in discrete Mortgage Loans, or
if the Prepayment Assumption is not used, then when a Mortgage Loan is prepaid,
the holder of a Grantor Trust Strip Certificate should be able to recognize a
loss equal to the portion of the adjusted issue price of the Grantor Trust Strip
Certificate that is allocable to such Mortgage Loan.
Possible Application of Proposed Contingent Payment Rules. The coupon
stripping rules' general treatment of stripped coupons is to regard them as
newly issued debt instruments in the hands of each purchaser. To the extent that
payments on the Grantor Trust Strip Certificates would cease if the Mortgage
Loans were prepaid in full, the Grantor Trust Strip Certificates could be
considered to be debt instruments providing for contingent payments. Under the
OID Regulations, debt instruments providing for contingent payments are not
subject to the same rules as debt instruments providing for noncontingent
payments, but no final regulations have been promulgated with respect to
contingent payment debt instruments. Proposed regulations were promulgated in
1994 regarding contingent payment debt instruments, but have not been made final
and are likely to be substantially revised before being made final. Moreover,
like the OID Regulations, such proposed regulations do not specifically address
securities, such as the Grantor Trust Strip Certificates, that are subject to
the stripped bond rules of Section 1286 of the Code.
Certificateholders should consult their tax advisors concerning the
possible application of the contingent payment rules to the Grantor Trust Strip
Certificates.
Sales of Grantor Trust Certificates. Any gain or loss, equal to the
difference between the amount realized on the sale or exchange of a Grantor
Trust Certificate and its adjusted basis, recognized on such sale or exchange of
a Grantor Trust Certificate by an investor who holds such Grantor Trust
Certificate as a capital asset, will be capital gain or loss, except to the
extent of accrued and unrecognized market discount, which will be treated as
ordinary income, and (in the case of banks and other financial institutions)
except as provided under Section 582(c) of the Code. The adjusted basis of a
Grantor Trust Certificate generally will equal its cost, increased by any income
reported by the seller (including original issue discount and market discount
income) and reduced (but not below zero) by any previously reported losses, any
amortized premium and by any distributions with respect to such Grantor Trust
Certificate. The Code as of the date of this Prospectus provides a top marginal
tax rate of 39.6% for individuals and a maximum marginal rate for long-term
capital gains of individuals of 20%. No such rate differential exists for
corporations. In addition, the distinction between a capital gain or loss and
ordinary income or loss remains relevant for other purposes.
Gain or loss from the sale of a Grantor Trust Certificate may be partially
or wholly ordinary and not capital in certain circumstances. Gain attributable
to accrued and unrecognized market discount will be treated as ordinary income,
as will gain or loss recognized by banks and other financial institutions
subject to Section 582(c) of the Code. Furthermore, a portion of any gain that
might otherwise be capital gain may be treated as ordinary income to the extent
that the Grantor Trust Certificate is held as part of a "conversion transaction"
within the meaning of Section 1258 of the Code. A conversion transaction
generally is one in which the taxpayer has taken two or more positions in the
same or similar property that reduce or eliminate market risk, if substantially
all of the taxpayer's return is attributable to the time value of the taxpayer's
net investment in such transaction. The amount of gain realized in a conversion
transaction that is recharacterized as ordinary income generally will not exceed
the amount of interest that would have accrued on the taxpayer's net investment
at 120% of the appropriate "applicable Federal rate" (which rate is computed and
published monthly by the IRS) at the time the taxpayer enters into the
conversion transaction, subject to appropriate reduction for prior inclusion of
interest and other ordinary income items from the transaction. Finally, a
taxpayer may elect to have net capital gain taxed at ordinary income rates
rather than capital gains rates in order to include such net capital gain in
total net investment income for that taxable year, for purposes of the rule that
limits the deduction of interest on indebtedness incurred to purchase or carry
property held for investment to a taxpayer's net investment income.
Grantor Trust Reporting. As may be provided in the related Prospectus
Supplement, the Trustee or Master Servicer, as applicable, will furnish to each
holder of a Grantor Trust Certificate with each distribution a statement setting
forth the amount of such distribution allocable to principal on the underlying
Mortgage Loans and to interest thereon at the related Pass-Through Rate. In
addition, within a reasonable time after the end of each calendar year, the
Trustee or Master Servicer, as applicable, will furnish to each
Certificateholder during such year such customary factual information as the
Depositor or the reporting party deems necessary or desirable to enable holders
of Grantor
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Trust Certificates to prepare their tax returns and will furnish comparable
information to the IRS as and when required by law to do so. Because the rules
for accruing discount and amortizing premium with respect to the Grantor Trust
Certificates are uncertain in various respects, there is no assurance the IRS
will agree with the Trustee's or Master Servicer's, as the case may be,
information reports of such items of income and expense. Moreover, such
information reports, even if otherwise accepted as accurate by the IRS, will in
any event be accurate only as to the initial Certificateholders that bought
their Certificates at the representative initial offering price used in
preparing such reports.
Backup Withholding. In general, the rules described in "--REMICs--Backup
Withholding with Respect to REMIC Certificates" will also apply to Grantor Trust
Certificates.
Foreign Investors. In general, the discussion with respect to REMIC Regular
Certificates in "--REMICs--Foreign Investors in REMIC Certificates" applies to
Grantor Trust Certificates except that Grantor Trust Certificates will be
eligible for exemption from United States withholding tax, subject to the
conditions described in such discussion, only to the extent the related Mortgage
Loans were originated after July 18, 1984.
To the extent that interest on a Grantor Trust Certificate would be exempt
under Sections 871(h)(1) and 881(c) of the Code from United States withholding
tax, and the Grantor Trust Certificate is not held in connection with a
Certificateholder's trade or business in the United States, such Grantor Trust
Certificate will not be subject to United States estate taxes in the estate of a
non-resident alien individual.
STATE AND OTHER TAX CONSEQUENCES
In addition to the federal income tax consequences described in "Material
Federal Income Tax Consequences," potential investors should consider the state
and local tax consequences of the acquisition, ownership, and disposition of the
Offered Certificates. State tax law may differ substantially from the
corresponding federal tax law, and the discussion above does not purport to
describe any aspect of the tax laws of any state or other jurisdiction.
Therefore, prospective investors should consult their own tax advisors with
respect to the various tax consequences of investments in the Offered
Certificates.
ERISA CONSIDERATIONS
GENERAL
The Employee Retirement Income Security Act of 1974, as amended ("ERISA"),
and the Code impose certain requirements on employee benefit plans, and on
certain other retirement plans and arrangements, including individual retirement
accounts and annuities, Keogh plans and collective investment funds and separate
accounts in which such plans, accounts or arrangements are invested that are
subject to the fiduciary responsibility provisions of ERISA and Section 4975 of
the Code (all of which are hereinafter referred to as "Plans"), and on persons
who are fiduciaries with respect to Plans, in connection with the investment of
Plan assets. Certain employee benefit plans, such as governmental plans (as
defined in ERISA Section 3(32)), and, if no election has been made under Section
410(d) of the Code, church plans (as defined in Section 3(33) of ERISA) are not
subject to ERISA requirements. Accordingly, assets of such plans may be invested
in Offered Certificates without regard to the ERISA considerations described
below, subject to the provisions of other applicable federal and state law. Any
such plan which is qualified and exempt from taxation under Sections 401(a) and
501(a) of the Code, however, is subject to the prohibited transaction rules set
forth in Section 503 of the Code.
ERISA generally imposes on Plan fiduciaries certain general fiduciary
requirements, including those of investment prudence and diversification and the
requirement that a Plan's investments be made in accordance with the documents
governing the Plan. In addition, ERISA and the Code prohibit a broad range of
transactions involving assets of a Plan and persons ("Parties in Interest") who
have certain specified relationships to the Plan, unless a statutory or
administrative exemption is available. Certain Parties in Interest that
participate in a prohibited transaction may be subject to an excise tax imposed
pursuant to Section 4975 of the Code, unless a statutory or administrative
exemption is available. These prohibited transactions generally are set forth in
Section 406 of ERISA and Section 4975 of the Code.
PLAN ASSET REGULATIONS
A Plan's investment in Certificates may cause the Trust Assets to be deemed
Plan assets. Section 2510.3-101 of the regulations of the United States
Department of Labor ("DOL") provides that when a Plan acquires an equity
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interest in an entity, the Plan's assets include both such equity interest and
an undivided interest in each of the underlying assets of the entity, unless
certain exceptions not applicable to this discussion apply, or unless the equity
participation in the entity by "benefit plan investors" (that is, Plans and
certain employee benefit plans not subject to ERISA) is not "significant." For
this purpose, in general, equity participation in a Trust Fund will be
"significant" on any date if, immediately after the most recent acquisition of
any Certificate, 25% or more of any class of Certificates is held by benefit
plan investors.
Any person who has discretionary authority or control respecting the
management or disposition of Plan assets, and any person who provides investment
advice with respect to such assets for a fee, is a fiduciary of the investing
Plan. If the Trust Assets constitute Plan assets, then any party exercising
management or discretionary control regarding those assets, such as a Master
Servicer, a Special Servicer or any Sub-Servicer, may be deemed to be a Plan
"fiduciary" with respect to the investing Plan, and thus subject to the
fiduciary responsibility provisions and prohibited transaction provisions of
ERISA and the Code. In addition, if the Trust Assets constitute Plan assets, the
purchase of Certificates by a Plan, as well as the operation of the Trust Fund,
may constitute or involve a prohibited transaction under ERISA and the Code.
PROHIBITED TRANSACTION EXEMPTIONS
The DOL issued an individual administrative exemption, Prohibited
Transaction Exemption 90-29 (the "Exemption"), to Merrill Lynch, Pierce, Fenner
& Smith Incorporated, which generally exempts from the application of the
prohibited transaction provisions of Section 406 of ERISA, and the excise taxes
imposed on such prohibited transactions pursuant to Section 4975(a) and (b) of
the Code and Section 502(i) of ERISA, certain transactions, among others,
relating to the servicing and operation of mortgage pools and the purchase, sale
and holding of mortgage pass-through certificates underwritten by an Underwriter
(as hereinafter defined), provided that certain conditions set forth in the
Exemption are satisfied. For purposes of this Section "ERISA Considerations,"
the term "Underwriter" includes (i) Merrill Lynch, Pierce, Fenner & Smith
Incorporated, (ii) any person directly or indirectly, through one or more
intermediaries, controlling, controlled by or under common control with Merrill
Lynch, Pierce, Fenner & Smith Incorporated and (iii) any member of the
underwriting syndicate or selling group of which Merrill Lynch, Pierce, Fenner &
Smith Incorporated or a person described in (ii) is a manager or co-manager with
respect to a class of Certificates.
The Exemption sets forth six general conditions which must be satisfied for
a transaction involving the purchase, sale and holding of Certificates to be
eligible for exemptive relief thereunder. First, the acquisition of Certificates
by a Plan must be on terms that are at least as favorable to the Plan as they
would be in an arm's-length transaction with an unrelated party. Second, the
Exemption only applies to Certificates evidencing rights and interests not
subordinated to the rights and interests evidenced by the other Certificates of
the same series. Third, the Certificates at the time of acquisition by the Plan
must be rated in one of the three highest generic rating categories by Standard
& Poor's Corporation ("Standard & Poor's"), Moody's Investors Service, Inc.
("Moody's"), Duff & Phelps, Inc. ("Duff & Phelps") or Fitch Investors Service,
Inc. ("Fitch"). Fourth, the Trustee cannot be an affiliate of any member of the
"Restricted Group," which consists of any Underwriter, the Depositor, the
Trustee, the Master Servicer, any Sub-Servicer, the provider of any Credit
Support and any obligor with respect to Mortgage Assets (including mortgage
loans underlying an MBS not issued by FNMA, FHLMC or GNMA) constituting more
than 5% of the aggregate unamortized principal balance of the Mortgage Assets in
the related Trust Fund as of the date of initial issuance of the Certificates.
Fifth, the sum of all payments made to and retained by the Underwriter(s) must
represent not more than reasonable compensation for underwriting the
Certificates; the sum of all payments made to and retained by the Depositor
pursuant to the assignment of the Mortgage Assets to the related Trust Fund must
represent not more than the fair market value of such obligations; and the sum
of all payments made to and retained by the Master Servicer and any Sub-Servicer
must represent not more than reasonable compensation for such person's services
under the related Agreement and reimbursement of such person's reasonable
expenses in connection therewith. Sixth, the investing Plan must be an
accredited investor as defined in Rule 501(a)(1) of Regulation D of the
Securities and Exchange Commission under the Securities Act of 1933, as amended.
The Exemption also requires that each Trust Fund meet the following
requirements: (i) the Trust Fund must consist solely of assets of the type that
have been included in other investment pools; (ii) certificates in such other
investment pools must have been rated in one of the three highest categories of
Standard & Poor's, Moody's, Duff & Phelps or Fitch for at least one year prior
to the Plan's acquisition of Certificates; and (iii) certificates in such other
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investment pools must have been purchased by investors other than Plans for at
least one year prior to any Plan's acquisition of Certificates.
If the general conditions of the Exemption are satisfied, the Exemption may
provide an exemption from the restrictions imposed by Sections 406(a) and 407(a)
of ERISA (as well as the excise taxes imposed by Sections 4975(a) and (b) of the
Code by reason of Sections 4975(c)(1) (A) through (D) of the Code) in connection
with (i) the direct or indirect sale, exchange or transfer of Offered
Certificates acquired by a Plan upon issuance from the Depositor or Underwriter
when the Depositor, Master Servicer, Special Servicer, Sub-Servicer, Trustee,
provider of Credit Support, Underwriter or obligor with respect to Mortgage
Assets is a Party in Interest with respect to the investing Plan, (ii) the
direct or indirect acquisition or disposition in the secondary market of fuel
Certificates by a Plan and (iii) the holding of Offered Certificates by a Plan.
However, no exemption is provided from the restrictions of Sections
406(a)(1)(E), 406(a)(2) and 407 of ERISA for the acquisition or holding of a
Certificate on behalf of an "Excluded Plan" by any person who has discretionary
authority or renders investment advice with respect to the assets of such
Excluded Plan. For purposes hereof, an Excluded Plan is a Plan sponsored by any
member of the Restricted Group.
If certain specific conditions of the Exemption are also satisfied, the
Exemption may provide an exemption from the restrictions imposed by Sections
406(b)(1) and (b)(2) of ERISA and the taxes imposed by Section 4975(c)(1)(E) of
the Code in connection with (i) the direct or indirect sale, exchange or
transfer of Offered Certificates in the initial issuance of Offered Certificates
between the Depositor or an Underwriter and a Plan when the person who has
discretionary authority or renders investment advice with respect to the
investment of Plan assets in such Certificates is (a) an obligor with respect to
5% or less of the fair market value of the Mortgage Assets (including mortgage
loans underlying an MBS not issued by FNMA, FHLMC or GNMA) in the related Trust
Fund or (b) an affiliate of such a person, (ii) the direct or indirect
acquisition or disposition in the secondary market of Offered Certificates by a
Plan and (iii) the holding of Offered Certificates by a Plan.
Further, if certain specific conditions of the Exemption are satisfied, the
Exemption may provide an exemption from the restrictions imposed by Sections
406(a), 406(b) and 407(a) of ERISA, and the taxes imposed by Sections 4975(a)
and (b) of the Code by reason of Section 4975(c) of the Code for transactions in
connection with the servicing, management and operation of the Trust Assets.
The Exemption also may provide an exemption from the restrictions imposed
by Sections 406(a) and 407(a) of ERISA, and the taxes imposed by Section 4975(a)
and (b) of the Code by reason of Sections 4975(c)(1) (a) through (D) of the Code
if such restrictions are deemed to otherwise apply merely because a person is
deemed to be a Party in Interest with respect to an investing Plan by virtue of
providing services to the Plan (or by virtue of having certain specified
relationships to such a person) solely as a result of the Plan's ownership of
Offered Certificates.
Before purchasing a Certificate, a fiduciary of a Plan should itself
confirm (i) that the Offered Certificates constitute "certificates" for purposes
of the Exemption and (ii) that the specific and general conditions set forth in
the Exemption and the other requirements set forth in the Exemption would be
satisfied. In addition to making its own determination as to the availability of
the exemptive relief provided in the Exemption, the Plan fiduciary should
consider its general fiduciary obligations under ERISA in determining whether to
purchase any Offered Certificates on behalf of a Plan.
Any fiduciary of a Plan that proposes to cause the Plan to purchase Offered
Certificates should consult with its counsel with respect to the potential
applicability of ERISA and the Code to such investment and the availability of
(and scope of relief provided by) the Exemption or any other prohibited
transaction exemption in connection therewith. The Prospectus Supplement with
respect to a series of Certificates may contain additional information regarding
the application of the Exemption or any other exemption, with respect to the
Certificates offered thereby. In addition, any Plan fiduciary that proposes to
cause a Plan to purchase Stripped Interest Certificates should consider the
federal income tax consequences of such investment.
LEGAL INVESTMENT
The Offered Certificates of any series will constitute "mortgage related
securities" for purposes of the Secondary Mortgage Market Enhancement Act of
1984 ("SMMEA") only if so specified in the related Prospectus Supplement.
Accordingly, investors whose investment authority is subject to legal
restrictions should consult their own legal advisors to determine whether and to
what extent the Offered Certificates constitute legal investments for them.
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Generally, only classes of Offered Certificates that (i) are rated in one
of the two highest rating categories by one or more Rating Agencies and (ii) are
part of a series evidencing interests in a Trust Fund consisting of loans
secured by a single parcel of real estate upon which is located a dwelling or
mixed residential and commercial structure, such as certain Multifamily Loans,
and originated by types of Originators specified in SMMEA, will be "mortgage
related securities" for purposes of SMMEA. "Mortgage related securities" are
legal investments to the same extent that, under applicable law, obligations
issued by or guaranteed as to principal and interest by the United States or any
agency or instrumentality thereof constitute legal investments for persons,
trusts, corporations, partnerships, associations, business trusts and business
entities (including depository institutions, insurance companies and pension
funds created pursuant to or existing under the laws of the United States or of
any state, the authorized investments of which are subject to state regulation).
Under SMMEA, if a state enacted legislation prior to October 3, 1991 that
specifically limits the legal investment authority of any such entities with
respect to "mortgage related securities," Offered Certificates would constitute
legal investments for entities subject to such legislation only to the extent
provided in such legislation.
SMMEA also amended the legal investment authority of federally chartered
depository institutions as follows: federal savings and loan associations and
federal savings banks may invest in, sell or otherwise deal with "mortgage
related securities" without limitation as to the percentage of their assets
represented thereby, federal credit unions may invest in such securities, and
national banks may purchase such securities for their own account without regard
to the limitations generally applicable to investment securities set forth in 12
U.S.C. 24 (Seventh), subject in each case to such regulations as the applicable
federal regulatory authority may prescribe. In this connection, effective
December 31, 1996, the Office of the Comptroller of the Currency (the "OCC")
amended 12 C.F.R. Part 1 to authorize national banks to purchase and sell for
their own account, without limitation as to a percentage of the bank's capital
and surplus (but subject to compliance with certain general standards concerning
"safety and soundness" and retention of credit information in 12 C.F.R. Section
1.5), certain "Type IV securities", defined in 12 C.F.R. Section 1.2(1) to
include certain "commercial mortgage-related securities" and "residential
mortgage-related securities". As so defined, "commercial mortgage-related
security" and "residential mortgage-related security" mean, in relevant part,
"mortgage related security" within the meaning of SMMEA, provided that, in the
case of a "commercial mortgage-related security," it "represents ownership of a
promissory note or certificate of interest or participation that is directly
secured by a first lien on one or more parcels of real estate upon which one or
more commercial structures are located and that is fully secured by interests in
a pool of loans to numerous obligors." In the absence of any rule or
administrative interpretation by the OCC defining the term "numerous obligors,"
no representation is made as to whether any class of Offered Certificates will
qualify as "commercial mortgage-related securities", and thus as "Type IV
securities", for investment by national banks. Federal credit unions should
review NCUA Letter to Credit Unions No. 96, as modified by Letter to Credit
Unions No. 108, which includes guidelines to assist federal credit unions in
making investment decisions for mortgage related securities. The NCUA has
adopted rules, codified as 12 C.F.R. Section 703.5(f)-(k), which prohibit
federal credit unions from investing in certain mortgage related securities
(including securities such as certain classes of Offered Certificates), except
under limited circumstances.
Upon the issuance of final implementing regulations under the Riegle
Community Development and Regulatory Improvement Act of 1994 and subject to any
limitations those regulations may impose, a modification of the definition of
"mortgage related securities" will become effective to include among the types
of loans to which such securities may relate loans secured by "one or more
parcels of real estate upon which is located one or more commercial structures."
In addition, the related legislative history states that this expanded
definition includes multifamily loans secured by more than one parcel of real
estate upon which is located more than one structure. Until September 23, 2001
any state may enact legislation limiting the extent to which "mortgage related
securities" under this expanded definition would constitute legal investments
under that state's laws.
All depository institutions considering an investment in the Offered
Certificates of any series should review the Federal Financial Institutions
Examination Council's Supervisory Policy Statement on the Selection of
Securities Dealers and Unsuitable Investment Practices (to the extent adopted by
their respective regulatory authorities), setting forth, in relevant part,
certain investment practices deemed to be unsuitable for an institution's
investment portfolio, as well as guidelines for investing in certain types of
mortgage related securities.
The foregoing does not take into consideration the applicability of
statutes, rules, regulations, orders, guidelines or agreements generally
governing investments made by a particular investor, including, but not limited
to, "prudent
89
<PAGE>
investor" provisions, percentage-of-assets limits and provisions which may
restrict or prohibit investment in securities which are not "interest bearing"
or "income paying."
There may be other restrictions on the ability of certain investors,
including depository institutions, either to purchase Offered Certificates or to
purchase Offered Certificates representing more than a specified percentage of
the investor's assets. Investors should consult their own legal advisors in
determining whether and to what extent the Offered Certificates constitute legal
investments for such investors.
METHOD OF DISTRIBUTION
The Offered Certificates offered hereby and by the Prospectus Supplements
hereto will be offered in series. The distribution of the Offered Certificates
may be effected from time to time in one or more transactions, including
negotiated transactions, at a fixed public offering price or at varying prices
to be determined at the time of sale or at the time of commitment therefor. The
Prospectus Supplement for the Offered Certificates of each series will, as to
each class of such Certificates, set forth the method of the offering, either
the initial public offering price or the method by which the price at which the
Certificates of such class will be sold to the public can be determined, the
amount of any underwriting discounts, concessions and commissions to
underwriters, any discounts or commissions to be allowed to dealers and the
proceeds of the offering to the Depositor.
If so specified in the related Prospectus Supplement, the Offered
Certificates of a series will be distributed in a firm commitment underwriting,
subject to the terms and conditions of the underwriting agreement, by Merrill
Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") acting as
underwriter with other underwriters, if any, named therein. Alternatively, the
Prospectus Supplement may specify that Offered Certificates will be distributed
by Merrill Lynch acting as agent. If Merrill Lynch acts as agent in the sale of
Offered Certificates, Merrill Lynch will receive a selling commission with
respect to such Offered Certificates, depending on market conditions, expressed
as a percentage of the aggregate Certificate Balance or Notional Amount of such
Offered Certificates as of the date of issuance. The exact percentage for each
series of Certificates will be disclosed in the related Prospectus Supplement.
To the extent that Merrill Lynch elects to purchase Offered Certificates as
principal, Merrill Lynch may realize losses or profits based upon the difference
between its purchase price and the sales price. The Prospectus Supplement with
respect to any series offered other than through underwriters will contain
information regarding the nature of such offering and any agreements to be
entered into between the Depositor and purchasers of Offered Certificates of
such series.
This Prospectus and related Prospectus Supplements may be used by the
Depositor, Merrill Lynch, an affiliate of the Depositor, and any other affiliate
of the Depositor when required under the federal securities laws in connection
with offers and sales of Offered Certificates in furtherance of market-making
activities in Offered Certificates. Merrill Lynch or any such other affiliate
may act as principal or agent in such transactions. Such sales will be made at
prices related to prevailing market prices at the time of sale or otherwise.
The Depositor will agree to indemnify Merrill Lynch and any underwriters
and their respective controlling persons against certain civil liabilities,
including liabilities under the Securities Act of 1933, or will contribute to
payments that any such person may be required to make in respect thereof.
In the ordinary course of business, Merrill Lynch and the Depositor may
engage in various securities and financing transactions, including repurchase
agreements to provide interim financing of the Depositor's mortgage loans
pending the sale of such mortgage loans or interests therein, including the
Certificates.
The Depositor anticipates that the Offered Certificates will be sold
primarily to institutional investors. Purchasers of Offered Certificates,
including dealers, may, depending on the facts and circumstances of such
purchases, be deemed to be "underwriters" within the meaning of the Securities
Act of 1933 in connection with reoffers and sales by them of Offered
Certificates. Certificateholders should consult with their legal advisors in
this regard prior to any such reoffer or sale.
As to each series of Certificates, only those classes rated in an
investment grade rating category by any Rating Agency will be offered hereby.
Any class of Certificates not offered hereby may be initially retained by the
Depositor, and may be sold by the Depositor at any time to one or more
institutional investors.
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<PAGE>
LEGAL MATTERS
Unless otherwise specified in the related Prospectus Supplement, certain
legal matters in connection with the Certificates of each series, including
certain federal income tax consequences, will be passed upon for the Depositor
and for Merrill Lynch, Pierce, Fenner & Smith Incorporated by Willkie Farr &
Gallagher, New York, New York.
FINANCIAL INFORMATION
A new Trust Fund will be formed with respect to each series of
Certificates, and no Trust Fund will engage in any business activities or have
any assets or obligations prior to the issuance of the related series of
Certificates. Accordingly, no financial statements with respect to any Trust
Fund will be included in this Prospectus or in the related Prospectus
Supplement.
RATING
It is a condition to the issuance of any class of Offered Certificates that
they shall have been rated not lower than investment grade, that is, in one of
the four highest rating categories, by at least one Rating Agency.
Ratings on mortgage pass-through certificates address the likelihood of
receipt by the holders thereof of all collections on the underlying mortgage
assets to which such holders are entitled. These ratings address the structural,
legal and issuer-related aspects associated with such certificates, the nature
of the underlying mortgage assets and the credit quality of the guarantor, if
any. Ratings on mortgage pass-through certificates do not represent any
assessment of the likelihood of principal prepayments by borrowers or of the
degree by which such prepayments might differ from those originally anticipated.
As a result, certificateholders might suffer a lower than anticipated yield,
and, in addition, holders of stripped interest certificates in extreme cases
might fail to recoup their initial investments.
A security rating is not a recommendation to buy, sell or hold securities
and may be subject to revision or withdrawal at any time by the assigning rating
organization. Each security rating should be evaluated independently of any
other security rating.
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<PAGE>
INDEX OF DEFINITIONS
PAGE
----
Accrual Certificates ........................................... 12, 36
Accrued Certificate Interest ................................... 36
Act ............................................................ 61
ADA ............................................................ 63
ARM Loans ...................................................... 27
Available Distribution Amount .................................. 35
Bankruptcy Code ................................................ 58
Book-Entry Certificates ........................................ 13, 35
call risk ...................................................... 17
Capitalized Interest Account ................................... 10, 29
Cash Flow Agreement ............................................ 10, 29
CERCLA ......................................................... 23, 61
Certificate Account ............................................ 9, 28, 44
Certificate Balance ............................................ 2, 11, 37
Certificate Owner .............................................. 13, 41
Certificateholders ............................................. 64
Certificates ................................................... 1, 8
Class .......................................................... 1
Closing Date ................................................... 66
Code ........................................................... 14, 64
Commercial Properties .......................................... 8, 25
Commission ..................................................... 2
Committee Report ............................................... 66
Companion Class ................................................ 12, 37
Contributions Tax .............................................. 75
Controlled Amortization Class .................................. 12, 37
Cooperatives ................................................... 25
CON ............................................................ 21
CPR ............................................................ 32
Credit Support ................................................. 10, 29
Cut-off Date ................................................... 12
Debt Service Coverage Ratio .................................... 25
Definitive Certificates ........................................ 13, 35, 42
Depositor ...................................................... 1, 8, 25
Determination Date ............................................. 36
Direct Participants ............................................ 41
Distribution Date .............................................. 12
Distribution Date Statement .................................... 38
DOL ............................................................ 86
DTC ............................................................ 2, 13, 35, 41
Due Dates ...................................................... 27
Due Period ..................................................... 38
Duff & Phelps .................................................. 87
Equity Participation ........................................... 27
ERISA .......................................................... 15, 86
Event of Default ............................................... 51
Excess Funds ................................................... 34
Exchange Act ................................................... 2
Exemption ...................................................... 87
extension risk ................................................. 17
FAMC ........................................................... 9
FASIT .......................................................... 13, 64
FHLMC .......................................................... 9
Fitch .......................................................... 87
FNMA ........................................................... 9
Garn Act ....................................................... 62
GNMA ........................................................... 9
92
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PAGE
----
Grantor Trust Certificates ..................................... 13, 64
Grantor Trust Fractional Interest Certificates ................. 14, 78
Grantor Trust Fund ............................................. 64
Grantor Trust Strip Certificate ................................ 78
Health-Care Related Facilities ................................. 20
Health-Care Related Mortgaged Property ......................... 21
holder ......................................................... 64
Indirect Participants .......................................... 41
Initial Pool Balance ........................................... 1
Insurance Proceeds ............................................. 44
IRS ............................................................ 66
Issue Premium .................................................. 71
L/C Bank ....................................................... 54
Liquidation Proceeds ........................................... 44
Loan-to-Value Ratio ............................................ 26
Lock-out Expiration Date ....................................... 27
Lock-out Period ................................................ 27
Mark-to-Market Regulations ..................................... 73
Master Servicer ................................................ 2, 8
MBS ............................................................ 9, 25
MBS Agreement .................................................. 28
MBS Issuer ..................................................... 28
MBS Servicer ................................................... 28
MBS Trustee .................................................... 28
Merrill Lynch .................................................. 90
Moody's ........................................................ 87
Mortgage Asset Seller .......................................... 9, 25
Mortgage Assets ................................................ 25
mortgage instruments ........................................... 55
Mortgage Loans ................................................. 1, 8, 25
Mortgage Notes ................................................. 25
Mortgage Pool .................................................. 1
Mortgage Rate .................................................. 9, 27
Mortgaged Properties ........................................... 1, 25
Mortgages ...................................................... 25
Multifamily Properties ......................................... 25
Net Leases ..................................................... 26
Net Operating Income ........................................... 26
Nonrecoverable Advance ......................................... 38
Notional Amount ................................................ 11, 36
OCC ............................................................ 89
Offered Certificates ........................................... 1
OID Regulations ................................................ 64
Originator ..................................................... 25
PAC ............................................................ 32
Participants ................................................... 25, 41
Parties in Interest ............................................ 86
pass-through entity ............................................ 76
Pass-Through Rate .............................................. 2, 11
Permitted Investments .......................................... 44
Plans .......................................................... 86
Pooling Agreement .............................................. 15, 42
Pre-Funding Account ............................................ 10, 29
Pre-Funding Period ............................................. 10, 29
prepayment ..................................................... 31
Prepayment Assumption .......................................... 66, 81
Prepayment Interest Shortfall .................................. 30
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PAGE
----
Prepayment Premium ............................................. 27
Prohibited Transactions Tax .................................... 75
Prospectus Supplement .......................................... 1
Rating Agency .................................................. 15
RCRA ........................................................... 61
Record Date .................................................... 36
Related Proceeds ............................................... 38
Relief Act ..................................................... 63
REMIC .......................................................... 64
REMIC Certificates ............................................. 64
REMIC Provisions ............................................... 64
REMIC Regular Certificates ..................................... 13, 65
REMIC Regulations .............................................. 64
REMIC Residual Certificates .................................... 13, 65
REO Property ................................................... 39, 46
Restricted Group ............................................... 87
Senior Certificates ............................................ 11, 35
Servicing Standard ............................................. 46
SMMEA .......................................................... 88
SPA ............................................................ 32
Special Servicer ............................................... 2, 8, 47
Standard & Poor's .............................................. 87
Stripped Interest Certificates ................................. 11, 35
Stripped Principal Certificates ................................ 11, 35
Sub-Servicer ................................................... 46
Sub-Servicing Agreement ........................................ 47
Subordinate Certificates ....................................... 11, 35
TAC ............................................................ 32
Tiered REMICs .................................................. 65
Title V ........................................................ 63
Trust Assets ................................................... 2
Trust Fund ..................................................... 1
Trustee ........................................................ 2, 8
UCC ............................................................ 56
Underwriter .................................................... 1, 87
United States person ........................................... 78
Value .......................................................... 26
Voting Rights .................................................. 40
Warranting Party ............................................... 43
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This diskette contains two files: The file "98C1CTLblackA.xls" which
provides, in electronic format, the information shown in Annex A of the
Prospectus Supplement and the file "98C1CTLblackD.xls" which provides an
electronic version of the tables entitled "Mortgage Loan Cash Flows". The files
are Microsoft Excel, Version 5.0 spreadsheets. The information contained in this
diskette in the file entitled "98C1CTLblackD.xls" does not appear elsewhere in
paper form in the Prospectus or Prospectus Supplement and must be considered as
part of, and together with, the information contained elsewhere in the
Prospectus Supplement and the Prospectus. The information contained in this file
will be filed by the Depositor with the Securities and Exchange Commission as
part of the Prospectus Supplement, and is also available through the public
reference branch of the Securities and Exchange Commission. Defined terms used
in this diskette but not otherwise defined herein shall have the respective
meanings assigned to them in the paper portion of the Prospectus Supplement and
the Prospectus. All of the information contained in this diskette is subject to
the same limitations and qualifications contained in this Prospectus Supplement
and the Prospectus. Prospective investors are strongly urged to read the
Prospectus Supplement and the Prospectus in its entirety prior to accessing this
diskette. If this diskette was not received in a sealed package, there can be no
assurance that it remains in its original format and should not relied upon for
any purpose. Prospective investors may contact Merrill Lynch & Co. at (212)
449-3860, Legg Mason Wood Walker, Incorporated at (410) 454-4920 or Daiwa
Securities America Inc. at (212) 612-6920 to receive a paper copy of the tables
included on the diskette or another diskette if the enclosed diskette is
unreadable. Upon opening either file contained on this diskette, a legend will
be displayed, which should be read carefully.
Microsoft Excel is a registered trademark of Microsoft Corporation.
<PAGE>
================================================================================
NO DEALER, SALESMAN OR OTHER PERSON HAS BEEN AUTHORIZED TO GIVE ANY
INFORMATION OR TO MAKE ANY REPRESENTATIONS NOT CONTAINED IN THIS PROSPECTUS
SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS AND, IF GIVEN OR MADE, SUCH
INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED
BY THE DEPOSITOR OR BY THE UNDERWRITERS. THIS PROSPECTUS SUPPLEMENT AND THE
ACCOMPANYING PROSPECTUS DO NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF
AN OFFER TO BUY, THE SECURITIES OFFERED HEREBY TO ANYONE IN ANY JURISDICTION IN
WHICH THE PERSON MAKING SUCH OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO OR
TO ANYONE TO WHOM IT IS UNLAWFUL TO MAKE ANY SUCH OFFER OR SOLICITATION. NEITHER
THE DELIVERY OF THIS PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS NOR
ANY SALE MADE HEREUNDER SHALL, UNDER ANY CIRCUMSTANCES, CREATE AN IMPLICATION
THAT INFORMATION HEREIN OR THEREIN IS CORRECT AS OF ANY TIME SINCE THE DATE OF
THIS PROSPECTUS SUPPLEMENT OR THE ACCOMPANYING PROSPECTUS.
---------------
TABLE OF CONTENTS
PROSPECTUS SUPPLEMENT
PAGE
----
Summary S-5
Risk Factors S-29
Description of the Mortgage Pool S-36
Servicing of the Mortgage Loans S-57
Description of the Certificates S-63
Yield and Maturity Considerations S-77
Use of Proceeds S-86
Material Federal Income Tax Consequences S-86
ERISA Considerations S-87
Legal Investment S-89
Method of Distribution S-90
Legal Matters S-91
Ratings S-91
Index of Principal Definitions S-93
Annex A A-1
Annex B B-1
Annex C C-1
PROSPECTUS
Prospectus Supplement 2
Available Information 2
Incorporation of Certain Information by
Reference 3
Summary of Prospectus 8
Risk Factors 16
Description of the Trust Funds 25
Yield and Maturity Considerations 29
The Depositor 35
Use of Proceeds 35
Description of the Certificates 35
Description of the Pooling Agreements 42
Description of Credit Support 53
Certain Legal Aspects of Mortgage Loans 55
Material Federal Income Tax Consequences 64
State and Other Tax Considerations 86
ERISA Considerations 86
Legal Investment 88
Method of Distribution 90
Legal Matters 91
Financial Information 91
Rating 91
Index of Principal Definitions 92
================================================================================
================================================================================
MERRILL LYNCH MORTGAGE
INVESTORS, INC.
(DEPOSITOR)
$571,781,000
(APPROXIMATE)
MORTGAGE PASS-THROUGH
CERTIFICATES
SERIES 1998-C1-CTL
---------------------
PROSPECTUS SUPPLEMENT
---------------------
MERRILL LYNCH & CO.
LEGG MASON WOOD WALKER
INCORPORATED
DAIWA SECURITIES AMERICA INC.
MARCH 25, 1998
================================================================================
