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Previous: PRUDENTIAL SECURITIES SECURED FINANCING CORP, 8-K, 2000-07-20 |
Next: GENTNER COMMUNICATIONS CORP, 8-K, 2000-07-20 |
<PAGE> 1
EXHIBIT 1.1
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C> <C>
Available Amount to Note Holders: 7,071,843.96
Disbursements from Collection Account: Section 3.04(b) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances 164,726.26
(b) Servicer Fees from current and prior Collection Period 59,110.46
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Premium Amount due on Payment Date and unpaid Premium Amounts 14,803.88
(v) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(vi) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vii) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest --
Class A-2 Note Interest 16,894.47
Class A-3 Note Interest 238,484.95
Class A-4 Note Interest 331,522.69
(viii) Class B-1 Note Interest 16,872.74
(ix) Class B-2 Note Interest 10,930.50
(x) Class B-3 Note Interest 14,348.73
(xi) Class A Base Principal Distribution Amount plus Class A Overdue Principal
Class A-1 Principal Distribution Amount --
Class A-2 Principal Distribution Amount 3,692,780.14
Class A-3 Principal Distribution Amount 2,191,172.45
Class A-4 Principal Distribution Amount --
(xii) Note Insurer Reimbursement Amount --
(xiii) Class B-1 Base Principal Distribution Amount plus Class B-1 Overdue Principal 127,912.02
(xiv) Class B-2 Base Principal Distribution Amount plus Class B-2 Overdue Principal 63,956.00
(xv) Class B-3 Base Principal Distribution Amount plus Class B-3 Overdue Principal 127,912.02
(xvi) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xvii) Other Amounts Due Servicer under Servicing Agreement --
(xviii) Remaining Amount to Residual Holder 0.00
</TABLE>
Reviewed By:
-----------------------------------------------
Sandy B. Ho
Executive Vice President & CFO
Page 1
<PAGE> 2
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - NOTE BALANCE ROLLFORWARD
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<CAPTION>
Initial Beginning Base Additional Total Ending Ending
Principal Principal Principal Principal Principal Principal Certificate
Class Balance Balance Distribution Distribution Distribution Balance Factor
----- -------------- -------------- ------------ ------------ ------------ -------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Class A-1 70,687,140.00 -- -- -- -- -- 0.0000000
Class A-2 53,856,869.00 3,692,780.14 3,692,780.14 -- 3,692,780.14 -- 0.0000000
Class A-3 52,510,447.00 52,510,447.00 2,191,172.45 -- 2,191,172.45 50,319,274.55 0.9582717
Class A-4 70,687,140.00 70,687,140.00 -- -- -- 70,687,140.00 1.0000000
-------------- -------------- ------------ ------------ ------------ -------------- ---------
Total Class A 247,741,596.00 126,890,367.14 5,883,952.59 -- 5,883,952.59 121,006,414.55 0.4884380
Class B-1 5,385,687.00 2,758,486.31 127,912.02 -- 127,912.02 2,630,574.29 0.4884380
Class B-2 2,692,843.00 1,379,242.90 63,956.00 -- 63,956.00 1,315,286.90 0.4884380
Class B-3 5,385,687.00 2,758,486.31 127,912.02 -- 127,912.02 2,630,574.30 0.4884380
-------------- -------------- ------------ ------------ ------------ --------------
Total 261,205,813.00 133,786,582.66 6,203,732.62 -- 6,203,732.62 127,582,850.04
</TABLE>
Page 2
<PAGE> 3
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of June 30, 2000 2,584,518.11
Investment earnings on amounts in Collection Account 19,251.14
Payments due Collection Account from last 3 business days of Collection Period 328,656.95
Additional contribution for terminated trade-ups and rebooked leases --
Servicer Advance on current Determination Date 4,139,417.76
--------------
Available Funds on Payment Date 7,071,843.96
INITIAL UNPAID AMOUNTS INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
--------------
REMAINING AVAILABLE FUNDS 7,071,843.96
INDEMNITY PAYMENTS PAID INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
--------------
REMAINING AVAILABLE FUNDS 7,071,843.96
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 164,726.26
Unreimbursed Servicer Advances paid 164,726.26
--------------
Unreimbursed Servicer Advances remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,907,117.70
SERVICER FEES
Servicer Fees due 59,110.46
Servicer Fees paid 59,110.46
--------------
Servicer Fees remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,848,007.24
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
--------------
REMAINING AVAILABLE FUNDS 6,848,007.24
PREMIUM AMOUNT
Premium Amount due 14,803.88
Premium Amount paid 14,803.88
--------------
Premium Amount remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,833,203.36
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
--------------
Indenture Trustee Fee remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,832,786.69
</TABLE>
Page 3
<PAGE> 4
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(A)(II)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07 (a)(ii) 75,000.00
--------------
Total Indenture Trustee Expenses paid --
--------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 6,832,786.69
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest --
Class A-2 Note Interest 16,894.47
Class A-3 Note Interest 238,484.95
Class A-4 Note Interest 331,522.69
--------------
Total Class A Interest due 586,902.10
--------------
REMAINING AVAILABLE FUNDS 6,245,884.59
CLASS B-1 NOTE INTEREST
Class B-1 Note Interest due 16,872.74
Class B-1 Note Interest paid 16,872.74
--------------
Class B-1 Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,229,011.85
CLASS B-2 NOTE INTEREST
Class B-2 Note Interest due 10,930.50
Class B-2 Note Interest paid 10,930.50
--------------
Class B-2 Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,218,081.35
CLASS B-3 NOTE INTEREST
Class B-3 Note Interest due 14,348.73
Class B-3 Note Interest paid 14,348.73
--------------
Class B-3 Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 6,203,732.62
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 5,883,952.59
Class A Note Principal Balance as of preceding Payment Date 126,890,367.14
--------------
Class A Base Principal Distribution Amount paid 5,883,952.59
--------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date --
Class A-1 Base Principal Distribution Amount paid --
--------------
Class A-1 Note Principal Balance after distribution on Payment Date --
--------------
Remaining Class A Base Principal Distribution Amount 5,883,952.59
--------------
</TABLE>
Page 4
<PAGE> 5
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Class A-2 Note Principal Balance as of preceding Payment Date 3,692,780.14
Class A-2 Base Principal Distribution Amount paid 3,692,780.14
--------------
Class A-2 Note Principal Balance after distribution on Payment Date --
Remaining Class A Base Principal Distribution Amount 2,191,172.45
--------------
Class A-3 Note Principal Balance as of preceding Payment Date 52,510,447.00
Class A-3 Base Principal Distribution Amount paid 2,191,172.45
--------------
Class A-3 Note Principal Balance after distribution on Payment Date 50,319,274.55
Remaining Class A Base Principal Distribution Amount --
--------------
Class A-4 Note Principal Balance as of preceding Payment Date 70,687,140.00
Class A-4 Base Principal Distribution Amount paid --
--------------
Class A-4 Note Principal Balance after distribution on Payment Date 70,687,140.00
REMAINING AVAILABLE FUNDS 319,780.03
NOTE INSURER REIMBURSEMENT AMOUNT
Note Insurer Reimbursement Amount due --
Note Insurer Reimbursement Amount paid --
--------------
Note Insurer Reimbursement Amount remaining unpaid --
REMAINING AVAILABLE FUNDS 319,780.03
CLASS B-1 BASE PRINCIPAL DISTRIBUTION
Class B-1 Note Principal Balance as of preceding Payment Date 2,758,486.31
Class B-1 Base Principal Distribution due 127,912.02
Class B-1 Base Principal Distribution paid 127,912.02
--------------
Class B-1 Base Principal Distribution remaining unpaid --
Class B-1 Note Principal Balance after distribution on Payment Date 2,630,574.29
REMAINING AVAILABLE FUNDS 191,868.02
CLASS B-2 BASE PRINCIPAL DISTRIBUTION
Class B-2 Note Principal Balance as of preceding Payment Date 1,379,242.90
Class B-2 Base Principal Distribution due 63,956.00
Class B-2 Base Principal Distribution paid 63,956.00
--------------
Class B-2 Base Principal Distribution remaining unpaid --
Class B-2 Note Principal Balance after distribution on Payment Date 1,315,286.90
REMAINING AVAILABLE FUNDS 127,912.02
CLASS B-3 BASE PRINCIPAL DISTRIBUTION
</TABLE>
Page 5
<PAGE> 6
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Class B-3 Note Principal Balance as of preceding Payment Date 2,758,486.31
Class B-3 Base Principal Distribution due 127,912.02
Class B-3 Base Principal Distribution paid 127,912.02
--------------
Class B-3 Base Principal Distribution remaining unpaid --
Class B-3 Note Principal Balance after distribution on Payment Date 2,630,574.30
REMAINING AVAILABLE FUNDS 0.00
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(A)(II)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
--------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 0.00
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement due --
Other Amounts Due Servicer under Servicing Agreement paid --
--------------
Other Amounts Due Servicer under Servicing Agreement remaining unpaid --
REMAINING AVAILABLE FUNDS 0.00
AMOUNT PAYABLE TO RESIDUAL HOLDER 0.00
</TABLE>
Page 6
<PAGE> 7
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 141,865,112.66
ADCPB, end of Collection Period 135,661,380.04
--------------
Base Principal Amount 6,203,732.62
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 3,256,421.67
Servicing Advances collected during the current Collection Period 3,091,695.41
--------------
Unreimbursed Servicing Advances as of current Determination Date 164,726.26
</TABLE>
CALCULATION OF INTEREST DUE
<TABLE>
<CAPTION>
Beginning Current Total
Principal Interest Interest Overdue Interest
Class Balance Rate Due Interest Due
--------- ---------------- --------- ---------- --------- -----------
<S> <C> <C> <C> <C> <C>
Class A-1 -- 5.2150% -- -- --
Class A-2 3,692,780.14 5.4900% 16,894.47 -- 16,894.47
Class A-3 52,510,447.00 5.4500% 238,484.95 -- 238,484.95
Class A-4 70,687,140.00 5.6280% 331,522.69 -- 331,522.69
Class B-1 2,758,486.31 7.3400% 16,872.74 -- 16,872.74
Class B-2 1,379,242.90 9.5100% 10,930.50 -- 10,930.50
Class B-3 2,758,486.31 6.2420% 14,348.73 -- 14,348.73
---------------- --------- ---------- --------- -----------
133,786,582.66 5.6423% 629,054.07 -- 629,054.07
</TABLE>
CALCULATION OF PRINCIPAL DUE
<TABLE>
<CAPTION>
Base Base Total
Principal Principal Overdue Principal
Class Amount Pct. Amount Principal Due
--------- ----------- ------------ --------- ------------
<S> <C> <C> <C> <C>
Class A 94.845% 5,883,952.59 -- 5,883,952.59
Class B-1 2.062% 127,912.02 -- 127,912.02
Class B-2 1.031% 63,956.00 -- 63,956.00
Class B-3 2.062% 127,912.02 0.00 127,912.02
------------ --------- ------------
6,203,732.62 0.00 6,203,732.62
</TABLE>
CALCULATION OF SERVICER FEE
<TABLE>
<S> <C>
ADCPB as of the prior Calculation Date 141,865,112.66
Servicer Fee Rate 0.500%
One-twelfth 1/12
--------------
Servicer Fee due current period 59,110.46
Prior Servicer Fee arrearage --
--------------
Servicer Fee due 59,110.46
</TABLE>
Page 7
<PAGE> 8
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CALCULATION OF PREMIUM AMOUNT
Class A Principal Amount as of the immediately preceding Collection Period 126,890,367.14
Premium Rate 0.140%
One-twelfth 1/12
--------------
Premium Amount due Current Period 14,803.88
Prior Premium Amount arrearage --
--------------
Total Premium Amount due 14,803.88
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
--------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
--------------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
--------------
Total Other Amounts Due Servicer under Servicing Agreement --
</TABLE>
Page 8
<PAGE> 9
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED JULY 1, 2000
RESTRICTING EVENT DETERMINATION:
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Event of Servicer Termination (Yes/No) No
B) Note Insurer has Made a Payment (Yes/No) No
C) Gross Charge Off Event has Occurred (Yes/No) No
D) Delinquency Trigger Event has Occurred (Yes/No) No
</TABLE>
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment of Interest required to be
made under the terms of such Notes or the Indenture when due; and,
B) Failure to distribute to the Noteholders (x) on any Payment Date, an amount equal to the No
principal due on the Outstanding Notes as of such Payment Date to the extent that sufficient
Available Funds are on deposit in the Collection Account of (y) on the Class A-1 Maturity Date, the
Class A-2 Maturity Date, the Class A-3 Maturity Date,the Class A-4 Maturity Date, the Class B-1
Maturity Date, the Class B-2 Maturity Date, or the Class B-3 Maturity Date, as the case may be, on
any remaining principal owed on the outstanding Class A-1 Notes, Class A-2 Notes, Class A-3
Notes, Class A-4 Notes, Class B-1 Notes, Class B-2 Notes, or Class B-3 Notes, as the case may be. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
---------- --------------------------------------------------------------------------------------------------- ------
<S> <C> <C>
6.01(i) Failure to make payment required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dismissed within 60 days No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
6.01(viii) Servicer Trigger Event as contained in the Insurance Agreement has occurred. No
</TABLE>
Page 9
<PAGE> 10
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1998-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TRIGGER ACCOUNT CALCULATIONS
COLLECTION PERIOD ENDED JULY 1, 2000
Gross Charge Event Calculation:
<TABLE>
<CAPTION>
Result
------
<S> <C>
Gross Charge Off Ratio Current Period 0.49%
Gross Charge Off Ratio Prior Period 0.04%
Gross Charge Off Ratio Second Prior Period 2.49%
----
Average of Gross Charge Off Ratio for Three Periods 1.01%
Maximum Allowed 2.50%
</TABLE>
Gross Charge Off Ratio:
<TABLE>
<CAPTION>
ADCPB of Gross Charge Off Ratio
All Defaulted Less End of Month Charge Offs/
Contracts Recoveries Charge Offs ADCPB ADCPB
------------- ---------- ----------- -------------- ----------------------
<S> <C> <C> <C> <C> <C>
Current Period 259,909.49 204,422.77 55,486.72 135,661,380.04 0.49%
Prior Period 207,725.17 202,904.22 4,820.95 141,865,112.66 0.04%
Second Prior Period 421,409.64 108,831.20 312,578.44 150,399,145.83 2.49%
</TABLE>
Delinquency Event Calculation:
<TABLE>
<CAPTION>
Results
-------
<S> <C>
Delinquency Trigger Ratio Current Period 3.96%
Delinquency Trigger Ratio Prior Period 3.47%
Delinquency Trigger Ratio Second Prior Period 4.30%
----
Average of Delinquency Trigger Ratios 3.91%
Maximum Allowed 7.50%
</TABLE>
Delinquency Trigger Ratio:
<TABLE>
<CAPTION>
A B A/B
- - ---
ADCPB of ADCPB of
Contract > 30 Days All Contracts Delinquency Trigger
Past Due As of Month-End Ratio:
------------------ --------------- -------------------
<S> <C> <C> <C>
Current Period 5,375,299.17 135,661,380.03 3.96%
Prior Period 5,013,263.34 144,311,900.96 3.47%
Second Prior Period 6,597,439.91 153,380,670.94 4.30%
</TABLE>
<TABLE>
<CAPTION>
ADCPB Delinquency Ratio
------------ -----------------
<S> <C> <C>
Current 130,286,081 96.04%
31-60 Days Past Due 2,858,171 2.11%
61-90 Days Past Due 1,317,428 0.97%
91+ Days Past Due 1,199,701 0.88%
------------ ------
TOTAL 135,661,380 100.00%
</TABLE>
Substitution Limits
<TABLE>
<S> <C>
ADCPB as of Cut-Off Date 269,284,343.00
Maximum Substitution (10% of Initial) 26,928,434.30
Prior month Cumulative ADCPB Substituted 4,786,235.22
Current month ADCPB Substituted --
--------------
Cumulative ADCPB Substituted 4,786,235.22
</TABLE>
Page 10
<PAGE> 11
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 6,978,818.26
Disbursements from Collection Account: Section 3.04(b) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances 41,941.44
(b) Servicer Fees from current and prior Collection Period 75,103.50
(c) Servicing Charges inadvertently deposited in Collection Account -
(iv) Premium Amount due on Payment Date and unpaid Premium Amounts 111,241.69
(v) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(vi) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vii) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest --
Class A-2 Note Interest 136,093.51
Class A-3 Note Interest 221,916.32
Class A-4 Note Interest 401,672.54
(viii) Class B-1 Note Interest 19,417.35
(ix) Class B-2 Note Interest 14,673.17
(x) Class B-3 Note Interest 11,618.10
(xi) Class A Base Principal Distribution Amount plus Class A Overdue Principal
Class A-1 Principal Distribution Amount --
Class A-2 Principal Distribution Amount 5,682,229.64
Class A-3 Principal Distribution Amount --
Class A-4 Principal Distribution Amount --
(xii) Note Insurer Reimbursement Amount --
(xiii) Class B-1 Base Principal Distribution Amount plus Class B-1 Overdue Principal 123,526.74
(xiv) Class B-2 Base Principal Distribution Amount plus Class B-2 Overdue Principal 61,763.37
(xv) Class B-3 Base Principal Distribution Amount plus Class B-3 Overdue Principal 77,204.21
(xvi) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xvii) Other Amounts Due Servicer under Servicing Agreement --
(xviii) Remaining Amount to Residual Holder --
</TABLE>
Reviewed By:
------------------------------------------------
Sandy B. Ho
Executive Vice President & CFO
Page 1
<PAGE> 12
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - NOTE BALANCE ROLLFORWARD
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<CAPTION>
Initial Beginning Base Additional Total Ending Ending
Principal Principal Principal Principal Principal Principal Certificate
Class Balance Balance Distribution Distribution Distribution Balance Factor
------ --------- --------- ------------ ------------ ------------ --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Class A-1 70,688,994.00 -- -- -- -- -- 0.0000000
Class A-2 57,258,085.00 29,965,543.89 5,682,229.64 -- 5,682,229.64 24,283,314.24 0.4241028
Class A-3 48,068,516.00 48,068,516.00 -- -- -- 48,068,516.00 1.0000000
Class A-4 84,119,903.00 84,119,903.00 -- -- -- 84,119,903.00 1.0000000
-------------- -------------- ------------ ------------ ------------ -------------- ------------
Total Class A 260,135,498.00 162,153,962.89 5,682,229.64 -- 5,682,229.64 156,471,733.24 0.6015009
Class B-1 5,655,120.00 3,525,086.45 123,526.74 -- 123,526.74 3,401,559.71 0.6015009
Class B-2 2,827,560.00 1,762,543.22 61,763.37 -- 61,763.37 1,700,779.85 0.6015009
Class B-3 3,534,450.00 2,203,179.03 77,204.21 -- 77,204.21 2,125,974.82 0.6015009
-------------- -------------- ------------ ------------ ------------- --------------
Total 272,152,628.00 169,644,771.59 5,944,723.97 -- 5,944,723.97 163,700,047.62
</TABLE>
Page 2
<PAGE> 13
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of June 30, 2000 1,327,978.36
Investment earnings on amounts in Collection Account 14,357.28
Payments due Collection Account from last 3 business days of Collection Period 171,565.38
Additional contribution for terminated trade-ups and rebooked leases --
Servicer Advance on current Determination Date 5,464,917.24
------------
Available Funds on Payment Date 6,978,818.26
INITIAL UNPAID AMOUNTS INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
------------
REMAINING AVAILABLE FUNDS 6,978,818.26
INDEMNITY PAYMENTS PAID INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
------------
REMAINING AVAILABLE FUNDS 6,978,818.26
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 41,941.44
Unreimbursed Servicer Advances paid 41,941.44
------------
Unreimbursed Servicer Advances remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 6,936,876.82
SERVICER FEES
Servicer Fees due 75,103.50
Servicer Fees paid 75,103.50
------------
Servicer Fees remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 6,861,773.32
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
------------
REMAINING AVAILABLE FUNDS 6,861,773.32
PREMIUM AMOUNT
Premium Amount due 111,241.69
Premium Amount paid 111,241.69
------------
Premium Amount remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 6,750,531.62
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
------------
Indenture Trustee Fee remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 6,750,114.96
</TABLE>
Page 3
<PAGE> 14
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(A)(II)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07 (a)(ii) 75,000.00
--------------
Total Indenture Trustee Expenses paid --
--------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 6,750,114.96
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest --
Class A-2 Note Interest 136,093.51
Class A-3 Note Interest 221,916.32
Class A-4 Note Interest 401,672.54
--------------
Total Class A Interest due 759,682.36
--------------
REMAINING AVAILABLE FUNDS 5,990,432.59
CLASS B-1 NOTE INTEREST
Class B-1 Note Interest due 19,417.35
Class B-1 Note Interest paid 19,417.35
--------------
Class B-1 Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 5,971,015.24
CLASS B-2 NOTE INTEREST
Class B-2 Note Interest due 14,673.17
Class B-2 Note Interest paid 14,673.17
--------------
Class B-2 Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 5,956,342.07
CLASS B-3 NOTE INTEREST
Class B-3 Note Interest due 11,618.10
Class B-3 Note Interest paid 11,618.10
--------------
Class B-3 Note Interest remaining unpaid --
--------------
REMAINING AVAILABLE FUNDS 5,944,723.97
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 5,682,229.64
Class A Note Principal Balance as of preceding Payment Date 162,153,962.89
--------------
Class A Base Principal Distribution Amount paid 5,682,229.64
--------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date --
Class A-1 Base Principal Distribution Amount paid --
--------------
Class A-1 Note Principal Balance after distribution on Payment Date --
Remaining Class A Base Principal Distribution Amount 5,682,229.64
--------------
</TABLE>
Page 4
<PAGE> 15
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Class A-2 Note Principal Balance as of preceding Payment Date 29,965,543.89
Class A-2 Base Principal Distribution Amount paid 5,682,229.64
-------------
Class A-2 Note Principal Balance after distribution on Payment Date 24,283,314.24
Remaining Class A Base Principal Distribution Amount --
-------------
Class A-3 Note Principal Balance as of preceding Payment Date 48,068,516.00
Class A-3 Base Principal Distribution Amount paid --
-------------
Class A-3 Note Principal Balance after distribution on Payment Date 48,068,516.00
Remaining Class A Base Principal Distribution Amount --
-------------
Class A-4 Note Principal Balance as of preceding Payment Date 84,119,903.00
Class A-4 Base Principal Distribution Amount paid --
-------------
Class A-4 Note Principal Balance after distribution on Payment Date 84,119,903.00
REMAINING AVAILABLE FUNDS 262,494.33
NOTE INSURER REIMBURSEMENT AMOUNT
Note Insurer Reimbursement Amount due --
Note Insurer Reimbursement Amount paid --
-------------
Note Insurer Reimbursement Amount remaining unpaid --
REMAINING AVAILABLE FUNDS 262,494.33
CLASS B-1 BASE PRINCIPAL DISTRIBUTION
Class B-1 Note Principal Balance as of preceding Payment Date 3,525,086.45
Class B-1 Base Principal Distribution due 123,526.74
Class B-1 Base Principal Distribution paid 123,526.74
-------------
Class B-1 Base Principal Distribution remaining unpaid --
Class B-1 Note Principal Balance after distribution on Payment Date 3,401,559.71
REMAINING AVAILABLE FUNDS 138,967.58
CLASS B-2 BASE PRINCIPAL DISTRIBUTION
Class B-2 Note Principal Balance as of preceding Payment Date 1,762,543.22
Class B-2 Base Principal Distribution due 61,763.37
Class B-2 Base Principal Distribution paid 61,763.37
-------------
Class B-2 Base Principal Distribution remaining unpaid --
Class B-2 Note Principal Balance after distribution on Payment Date 1,700,779.85
REMAINING AVAILABLE FUNDS 77,204.21
CLASS B-3 BASE PRINCIPAL DISTRIBUTION
</TABLE>
Page 5
<PAGE> 16
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Class B-3 Note Principal Balance as of preceding Payment Date 2,203,179.03
Class B-3 Base Principal Distribution due 77,204.21
Class B-3 Base Principal Distribution paid 77,204.21
------------
Class B-3 Base Principal Distribution remaining unpaid 0.00
Class B-3 Note Principal Balance after distribution on Payment Date 2,125,974.82
REMAINING AVAILABLE FUNDS --
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(A)(II)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement due --
Other Amounts Due Servicer under Servicing Agreement paid --
------------
Other Amounts Due Servicer under Servicing Agreement remaining unpaid --
REMAINING AVAILABLE FUNDS --
AMOUNT PAYABLE TO RESIDUAL HOLDER --
</TABLE>
Page 6
<PAGE> 17
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 180,248,409.68
ADCPB, end of Collection Period 174,303,685.71
--------------
Base Principal Amount 5,944,723.97
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 5,031,033.37
Servicing Advances collected during the current Collection Period 4,989,091.93
--------------
Unreimbursed Servicing Advances as of current Determination Date 41,941.44
</TABLE>
<TABLE>
<CAPTION>
CALCULATION OF INTEREST DUE
Beginning Current Total
Principal Interest Interest Overdue Interest
Class Balance Rate Due Interest Due
------- --------- -------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C>
Class A-1 -- 4.9670% -- -- --
Class A-2 29,965,543.89 5.4500% 136,093.51 -- 136,093.51
Class A-3 48,068,516.00 5.5400% 221,916.32 -- 221,916.32
Class A-4 84,119,903.00 5.7300% 401,672.54 -- 401,672.54
Class B-1 3,525,086.45 6.6100% 19,417.35 -- 19,417.35
Class B-2 1,762,543.22 9.9900% 14,673.17 -- 14,673.17
Class B-3 2,203,179.03 6.3280% 11,618.10 -- 11,618.10
-------------- ------ ---------- --------- ----------
169,644,771.59 5.6970% 805,390.99 -- 805,390.99
</TABLE>
<TABLE>
<CAPTION>
CALCULATION OF PRINCIPAL DUE
Base Base Total
Principal Principal Overdue Principal
Class Amount Pct. Amount Principal Due
------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C>
Class A 95.584% 5,682,229.64 -- 5,682,229.64
Class B-1 2.078% 123,526.74 -- 123,526.74
Class B-2 1.039% 61,763.37 -- 61,763.37
Class B-3 1.299% 77,204.21 -- 77,204.21
------------ -------- ------------
5,944,723.97 -- 5,944,723.97
</TABLE>
<TABLE>
<S> <C>
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 180,248,409.68
Servicer Fee Rate 0.500%
One-twelfth 1/12
--------------
Servicer Fee due current period 75,103.50
Prior Servicer Fee arrearage --
--------------
Servicer Fee due 75,103.50
</TABLE>
Page 7
<PAGE> 18
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CALCULATION OF PREMIUM AMOUNT
Class A Principal Amount as of the immediately preceding Collection Period 162,153,962.89
Premium Rate 0.175%
One-twelfth 1/12
---------------
Premium Amount due Current Period 23,647.45
Prior Premium Amount arrearage 87,594.24
---------------
Total Premium Amount due 111,241.69
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
---------------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
---------------
Total Other Amounts Due Servicer under Servicing Agreement --
</TABLE>
Page 8
<PAGE> 19
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<CAPTION>
RESTRICTING EVENT DETERMINATION:
Yes/No
------
<S> <C>
A) Event of Servicer Termination (Yes/No) No
B) Note Insurer has Made a Payment (Yes/No) No
C) Gross Charge Off Event has Occurred (Yes/No) No
D) Delinquency Trigger Event has Occurred (Yes/No) No
</TABLE>
<TABLE>
<CAPTION>
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment of
Interest required to be made Noder the terms of such Notes or the Indenture when
due; and, No
B) Failure to distribute to the Noteholders (x) on any Payment Date, an
amount equal to the principal due on the Outstanding Notes as of such Payment
Date to the extent that sufficient Available Funds are on deposit in the
Collection Account of (y) on the Class A-1 Maturity Date, the Class A-2 Maturity
Date, the Class A-3 Maturity Date,the Class A-4 Maturity Date, the Class B-1
Maturity Date, the Class B-2 Maturity Date, or the Class B-3 Maturity Date, as
the case may be, on any remaining principal owed on the outstanding Class A-1
Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B-1 Notes, Class
B-2 Notes, or Class B-3 Notes, as the case may be. No
</TABLE>
<TABLE>
<CAPTION>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
Section Event Yes/No
------- ----- ------
<S> <C> <C>
6.01(i) Failure to make payment required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dismissed No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
6.01(viii) Servicer Trigger Event as contained in the Insurance Agreement has occurred. No
</TABLE>
Page 9
<PAGE> 20
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TRIGGER ACCOUNT CALCULATIONS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<CAPTION>
Gross Charge Event Calculation:
Result
------
<S> <C>
Gross Charge Off Ratio Current Period 2.76%
Gross Charge Off Ratio Prior Period 0.55%
Gross Charge Off Ratio Second Prior Period 0.69%
-----
Average of Gross Charge Off Ratio for Three Periods 1.33%
Maximum Allowed 2.50%
</TABLE>
<TABLE>
<CAPTION>
Gross Charge Off Ratio:
ADCPB of Gross Charge Off Ratio
All Defaulted Less End of Month Charge Offs/
Contracts Recoveries Charge Offs ADCPB ADCPB
------------- ----------- ------------ ------------ ---------------------
<S> <C> <C> <C> <C> <C>
Current Period 477,532.93 76,725.98 400,806.95 174,303,685.71 2.76%
Prior Period 214,892.40 131,987.05 82,905.35 180,248,409.68 0.55%
Second Prior Period 196,865.72 88,723.09 108,142.63 188,439,590.17 0.69%
</TABLE>
<TABLE>
<CAPTION>
Delinquency Event Calculation:
Results
-------
<S> <C>
Delinquency Trigger Ratio Current Period 3.95%
Delinquency Trigger Ratio Prior Period 4.82%
Delinquency Trigger Ratio Second Prior Period 4.79%
-----
Average of Delinquency Trigger Ratios 4.52%
Maximum Allowed 7.50%
</TABLE>
<TABLE>
<CAPTION>
Delinquency Trigger Ratio:
A B A/B
- - ---
ADCPB of ADCPB of
Contract > 30 Days All Contracts Delinquency Trigger
Past Due As of Month-End Ratio:
------------ --------------- -------------------
<S> <C> <C> <C>
Current Period 6,893,680.14 174,303,685.70 3.95%
Prior Period 8,855,823.31 183,708,031.20 4.82%
Second Prior Period 9,237,227.37 192,913,932.05 4.79%
</TABLE>
<TABLE>
<CAPTION>
ADCPB Delinquency Ratio
----- -----------------
<S> <C> <C>
Current 167,410,006 96.05%
31-60 Days Past Due 3,731,376 2.14%
61-90 Days Past Due 1,528,675 0.88%
91+ Days Past Due 1,633,629 0.94%
----------- -------
TOTAL 174,303,686 100.00%
</TABLE>
<TABLE>
<CAPTION>
Substitution Limits
<S> <C>
ADCPB as of Cut-Off Date 226,204,781.43
Maximum Substitution (10% of Initial) 22,620,478.14
Prior month Cumulative ADCPB Substituted 14,973,017.42
Current month ADCPB Substituted 1,244,883.40
--------------
Cumulative ADCPB Substituted 16,217,900.82
</TABLE>
Page 10
<PAGE> 21
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 3,803,476.57
Reserve Account balance, beginning 1,751,034.78
Disbursements from Collection Account: Section 3.05(a) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances --
(b) Servicer Fees from current and prior Collection Period 60,183.33
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(v) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vi) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest 780.21
Class A-2 Note Interest 172,031.87
Class A-3 Note Interest 105,098.57
Class A-4 Note Interest 360,555.57
(vii) Class B Note Interest 82,327.82
(viii) Class C Note Interest 61,362.83
(ix) Class D Note Interest 18,732.42
(x) Class A Base Principal Distribution Amount
Class A-1 Principal Distribution Amount 154,737.99
Class A-2 Principal Distribution Amount 2,305,378.62
Class A-3 Principal Distribution Amount --
Class A-4 Principal Distribution Amount --
(xi) Class B Base Principal Distribution Amount 232,511.02
(xii) Class C Base Principal Distribution Amount 157,507.47
(xiii) Class D Base Principal Distribution Amount 37,501.78
(xv) Class E Note Interest 13,848.50
(xvi) Class E Principal Distribution Amount 40,501.92
(xviii) Reserve Account Reimbursement/(Withdrawal) (0.00)
(xix) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xx) Remaining Amount to Residual Holder --
Reserve Account balance, ending 1,751,034.78
Disbursements from Reserve Account:
Interest earned on Reserve Account to Residual Holder 9,302.56
</TABLE>
Reviewed By:
-----------------------------------------------------------
E. ROGER GEBHART
EXECUTIVE VICE PRESIDENT & TREASURER
<PAGE> 22
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of June 30, 2000 667,899.83
Investment earnings on amounts in Collection Account 11,818.56
Payments due Collection Account from last 3 business days of Collection Period --
Additional contribution for terminated trade-ups and rebooked leases 83,967.50
Servicer Advance on current Determination Date 3,039,790.68
---------------
AVAILABLE FUNDS ON PAYMENT DATE 3,803,476.57
Reserve Account balance 1,751,034.78
---------------
TOTAL AVAILABLE FUNDS 5,554,511.35
Initial Unpaid Amounts inadvertently deposited in Collection Account --
---------------
REMAINING AVAILABLE FUNDS 5,554,511.35
Indemnity Payments paid inadvertently deposited in Collection Account --
---------------
REMAINING AVAILABLE FUNDS 5,554,511.35
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due --
Unreimbursed Servicer Advances paid --
---------------
Unreimbursed Servicer Advances remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 5,554,511.35
SERVICER FEES
Servicer Fees due 60,183.33
Servicer Fees paid 60,183.33
---------------
Servicer Fees remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 5,494,328.02
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
---------------
REMAINING AVAILABLE FUNDS 5,494,328.02
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
---------------
Indenture Trustee Fee remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 5,493,911.35
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(A)(II)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07 (a)(ii) 75,000.00
---------------
Total Indenture Trustee Expenses paid --
---------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 5,493,911.35
</TABLE>
Page 2
<PAGE> 23
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest 780.21
Class A-2 Note Interest 172,031.87
Class A-3 Note Interest 105,098.57
Class A-4 Note Interest 360,555.57
Total Class A Interest due 638,466.22
---------------
REMAINING AVAILABLE FUNDS 4,855,445.13
CLASS B NOTE INTEREST
Class B Note Interest due 82,327.82
Class B Note Interest paid 82,327.82
---------------
Class B Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 4,773,117.31
CLASS C NOTE INTEREST
Class C Note Interest due 61,362.83
Class C Note Interest paid 61,362.83
---------------
Class C Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 4,711,754.48
CLASS D NOTE INTEREST
Class D Note Interest due 18,732.42
Class D Note Interest paid 18,732.42
---------------
Class D Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 4,693,022.06
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 2,401,073.81
Class A Note Principal Balance as of preceding Payment Date 112,921,377.99
---------------
Class A Base Principal Distribution Amount paid 2,401,073.81
---------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date 154,737.99
Class A-1 Base Principal Distribution Amount paid 154,737.99
---------------
Class A-1 Note Principal Balance after distribution --
---------------
Remaining Class A Base Principal Distribution Amount 2,246,335.82
---------------
Class A-2 Note Principal Balance as of preceding Payment Date 31,956,385.00
Class A-2 Base Principal Distribution Amount paid 2,246,335.82
---------------
Class A-2 Note Principal Balance after distribution 29,710,049.18
Remaining Class A Base Principal Distribution Amount --
---------------
Class A-3 Note Principal Balance as of preceding Payment Date 18,823,624.00
Class A-3 Base Principal Distribution Amount paid --
---------------
Class A-3 Note Principal Balance after distribution 18,823,624.00
Remaining Class A Base Principal Distribution Amount --
---------------
Class A-4 Note Principal Balance as of preceding Payment Date 61,986,631.00
Class A-4 Base Principal Distribution Amount paid --
---------------
Class A-4 Note Principal Balance after distribution 61,986,631.00
REMAINING AVAILABLE FUNDS 2,291,948.26
</TABLE>
Page 3
<PAGE> 24
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS B BASE PRINCIPAL DISTRIBUTION
Class B Note Principal Balance as of preceding Payment Date 13,570,520.00
Class B Base Principal Distribution due 226,930.76
Class B Base Principal Distribution paid 226,930.76
---------------
Class B Base Principal Distribution remaining unpaid --
Class B Note Principal Balance after distribution on Payment Date 13,343,589.24
REMAINING AVAILABLE FUNDS 2,065,017.50
CLASS C BASE PRINCIPAL DISTRIBUTION
Class C Note Principal Balance as of preceding Payment Date 9,192,933.00
Class C Base Principal Distribution due 153,727.29
Class C Base Principal Distribution paid 153,727.29
---------------
Class C Base Principal Distribution remaining unpaid --
Class C Note Principal Balance after distribution on Payment Date 9,039,205.71
REMAINING AVAILABLE FUNDS 1,911,290.21
CLASS D BASE PRINCIPAL DISTRIBUTION
Class D Note Principal Balance as of preceding Payment Date 2,188,793.00
Class D Base Principal Distribution due 36,601.73
Class D Base Principal Distribution paid 36,601.73
---------------
Class D Base Principal Distribution remaining unpaid --
Class D Note Principal Balance after distribution on Payment Date 2,152,191.27
REMAINING AVAILABLE FUNDS 1,874,688.48
CLASS A REALLOCATED PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Base Principal --
Class A-1 Reallocated Principal Distribution --
---------------
Class A-1 Note Principal Balance after Reallocation --
Remaining Available Funds 1,874,688.48
---------------
Class A-2 Note Principal Balance after Base Principal 29,710,049.18
Class A-2 Reallocated Principal Distribution --
---------------
Class A-2 Note Principal Balance after Reallocation 29,710,049.18
Remaining Available Funds 1,874,688.48
---------------
Class A-3 Note Principal Balance after Base Principal 18,823,624.00
Class A-3 Reallocated Principal Distribution --
---------------
Class A-3 Note Principal Balance after Reallocation 18,823,624.00
Remaining Available Funds 1,874,688.48
---------------
Class A-4 Note Principal Balance after Base Principal 61,986,631.00
Class A-4 Reallocated Principal Distribution --
---------------
Class A-4 Note Principal Balance after Reallocation 61,986,631.00
REMAINING AVAILABLE FUNDS 1,874,688.48
CLASS B REALLOCATED PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Base Principal 13,343,589.24
Class B Reallocated Principal Distribution paid --
---------------
Class B Note Principal Balance after Reallocation 13,343,589.24
REMAINING AVAILABLE FUNDS 1,874,688.48
</TABLE>
Page 4
<PAGE> 25
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS C REALLOCATED PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Base Principal 9,039,205.71
Class C Reallocated Principal Distribution paid --
---------------
Class C Note Principal Balance after Reallocation 9,039,205.71
REMAINING AVAILABLE FUNDS 1,874,688.48
CLASS D REALLOCATED PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Base Principal 2,152,191.27
Class D Reallocated Principal Distribution paid --
Class D Note Principal Balance after Reallocation 2,152,191.27
REMAINING AVAILABLE FUNDS 1,874,688.48
CLASS E NOTE INTEREST
Class E Note Interest due 13,848.50
Class E Note Interest paid 13,848.50
---------------
Class E Note Interest remaining unpaid --
---------------
REMAINING AVAILABLE FUNDS 1,860,839.98
CLASS E BASE PRINCIPAL DISTRIBUTION
Class E Note Principal Balance as of preceding Payment Date 2,363,897.00
Class E Base Principal Distribution due 39,529.87
Class E Base Principal Distribution paid 39,529.87
---------------
Class E Base Principal Distribution remaining unpaid --
Class E Note Principal Balance after distribution on Payment Date 2,324,367.13
REMAINING AVAILABLE FUNDS 1,821,310.11
CLASS E REALLOCATED PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Base Principal 2,324,367.13
Class E Reallocated Principal Distribution paid --
Class E Note Principal Balance after Reallocation 2,324,367.13
REMAINING AVAILABLE FUNDS 1,821,310.11
CLASS A SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Reallocated Principal --
Class A-1 Supplemental Principal Distribution --
---------------
Class A-1 Note Principal Balance after Supplemental --
Remaining Available Funds 1,821,310.11
---------------
Class A-2 Note Principal Balance after Reallocated Principal 29,710,049.18
Class A-2 Supplemental Principal Distribution 59,042.80
---------------
Class A-2 Note Principal Balance after Supplemental 29,651,006.38
Remaining Available Funds 1,762,267.31
---------------
Class A-3 Note Principal Balance after Reallocated Principal 18,823,624.00
Class A-3 Supplemental Principal Distribution --
---------------
Class A-3 Note Principal Balance after Supplemental 18,823,624.00
Remaining Available Funds 1,762,267.31
---------------
Class A-4 Note Principal Balance after Reallocated Principal 61,986,631.00
Class A-4 Supplemental Principal Distribution --
---------------
Class A-4 Note Principal Balance after Supplemental 61,986,631.00
REMAINING AVAILABLE FUNDS 1,762,267.31
</TABLE>
Page 5
<PAGE> 26
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVEABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS B SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Reallocated Principal 13,343,589.24
Class B Supplemental Principal Distribution paid 5,580.26
---------------
Class B Note Principal Balance after Supplemental 13,338,008.98
REMAINING AVAILABLE FUNDS 1,756,687.04
CLASS C SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Reallocated Principal 9,039,205.71
Class C Supplemental Principal Distribution paid 3,780.18
---------------
Class C Note Principal Balance after Supplemental 9,035,425.53
REMAINING AVAILABLE FUNDS 1,752,906.87
CLASS D SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Reallocated Principal 2,152,191.27
Class D Supplemental Principal Distribution paid 900.04
---------------
Class D Note Principal Balance after Supplemental 2,151,291.22
REMAINING AVAILABLE FUNDS 1,752,006.82
CLASS E SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Reallocated Principal 2,324,367.13
Class E Supplemental Principal Distribution paid 972.05
---------------
Class E Note Principal Balance after Supplemental 2,323,395.08
REMAINING AVAILABLE FUNDS 1,751,034.78
RESERVE FUND
Required Reserve Fund Amount 1,751,034.78
Reserve Account Balance, Ending 1,751,034.78
Reserve Account Deposit/(Withdrawal) (0.00)
---------------
REMAINING AVAILABLE FUNDS --
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(A)(II)
Indenture Trustee Expenses unpaid per above --
Remaining Indenture Trustee Expenses paid --
---------------
Remaining Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS --
AMOUNT PAYABLE TO TRUST CERTIFICATE HOLDER --
</TABLE>
Page 6
<PAGE> 27
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 144,440,003.99
ADCPB, end of Collection Period 141,511,865.20
---------------
Base Principal Amount 2,928,138.79
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 2,532,235.51
Servicing Advances collected during the current Collection Period 2,532,235.51
---------------
Unreimbursed Servicing Advances as of current Determination Date --
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 144,440,003.99
Servicer Fee Rate 0.500%
One-twelfth 1/12
---------------
Servicer Fee due current period 60,183.33
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 60,183.33
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage --
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due --
Prior Indenture Trustee Expenses arrearage --
---------------
Total Indenture Trustee Expenses due --
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period --
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage --
---------------
Total Other Amounts Due Servicer under Servicing Agreement --
</TABLE>
<TABLE>
<S> <C> <C>
AGING DELINQUENCY STATISTICS - AS OF PRIOR MONTH-END
Current 138,129,120.23 97.61%
31 - 60 days past due 1,615,093.16 1.14%
61 - 90 days past due 985,282.73 0.70%
91+ days past due 782,369.07 0.55%
--------------
141,511,865.20
GROSS CHARGE OFF
ADCPB of All Defaulted Contracts 163,170.56
</TABLE>
Page 7
<PAGE> 28
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC
MONTHLY SERVICER CERTIFICATE - FEE CALCULATION
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Less Recoveries 65,196.46
--------------
Total Charge Offs for the period 97,974.10
End of Month ADCPB 141,511,865.20
Gross Charge Off Ratio (Total Charge Offs/ADCPB) 0.07%
</TABLE>
Page 8
<PAGE> 29
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED JULY 1, 2000
INTEREST PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning
Initial of Period Interest Interest
Class Balance Balance Rate Interest Due Paid
------------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
A-1 30,818,212.00 154,737.99 5.855% 780.21 780.21
A-2 31,956,385.00 31,956,385.00 6.460% 172,031.87 172,031.87
A-3 18,823,624.00 18,823,624.00 6.700% 105,098.57 105,098.57
A-4 61,986,631.00 61,986,631.00 6.980% 360,555.57 360,555.57
------------- -------------- -------------- -------------- -------------- --------------
Class A 143,584,852.00 112,921,377.99 6.78% 638,466.22 638,466.22
------------- -------------- -------------- -------------- -------------- --------------
B 13,570,520.00 13,570,520.00 7.280% 82,327.82 82,327.82
C 9,192,933.00 9,192,933.00 8.010% 61,362.83 61,362.83
D 2,188,793.00 2,188,793.00 10.270% 18,732.42 18,732.42
E 2,363,897.00 2,363,897.00 7.030% 13,848.50 13,848.50
------------- -------------- -------------- -------------- -------------- --------------
Total Notes 170,900,995.00 140,237,520.99 6.97% 814,737.78 814,737.78
------------- -------------- -------------- -------------- -------------- --------------
</TABLE>
PRINCIPAL PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning (Monthly) (Reallocated) (Supplemental) Total End Ending
of Period Principal Principal Principal Principal of Period Certificate
Class Balance Paid Paid Paid Paid Balance Factor
------------ -------------- -------------- -------------- -------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 154,737.99 154,737.99 0.00 0.00 154,737.99 0.00 0.0000000
A-2 31,956,385.00 2,246,335.82 0.00 59,042.80 2,305,378.62 29,651,006.38 0.9278586
A-3 18,823,624.00 0.00 0.00 0.00 0.00 18,823,624.00 1.0000000
A-4 61,986,631.00 0.00 0.00 0.00 0.00 61,986,631.00 1.0000000
------------ -------------- -------------- -------------- -------------- -------------- --------------
Class A 112,921,377.99 2,401,073.81 0.00 59,042.80 2,460,116.61 110,461,261.38
------------ -------------- -------------- -------------- -------------- -------------- --------------
B 13,570,520.00 226,930.76 0.00 5,580.26 232,511.02 13,338,008.98 0.9828665
C 9,192,933.00 153,727.29 0.00 3,780.18 157,507.47 9,035,425.53 0.9828665
D 2,188,793.00 36,601.73 0.00 900.04 37,501.78 2,151,291.22 0.9828665
E 2,363,897.00 39,529.87 0.00 972.05 40,501.92 2,323,395.08 0.9828665
------------ -------------- -------------- -------------- -------------- -------------- --------------
Total Notes 140,237,520.99 2,857,863.46 0.00 70,275.33 2,928,138.79 137,309,382.20
------------ -------------- -------------- -------------- -------------- -------------- --------------
</TABLE>
Page 9
<PAGE> 30
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED JULY 1, 2000
PRINCIPAL PAYMENT CALCULATION
<TABLE>
<CAPTION>
Investor Investor Investor Supplemental
(defined) Monthly Reallocated Supplemental Total Percentage
Class Principal Principal Principal Principal of Principal
Class Percentage Amount Amount Amount Amount Allocated
------------ ------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
A 82.00% 2,401,073.81 0.00 59,042.80 2,460,116.61 84.02%
B 7.75% 226,930.76 0.00 5,580.26 232,511.02 7.94%
C 5.25% 153,727.29 0.00 3,780.18 157,507.47 5.38%
D 1.25% 36,601.73 0.00 900.04 37,501.78 1.28%
E 1.35% 39,529.87 0.00 972.05 40,501.92 1.38%
------------ ------------ ------------ ------------ ------------
2,857,863.46 0.00 70,275.33 2,928,138.79 100.00%
------------ ------------ ------------ ------------ ------------
</TABLE>
FLOOR CALCULATION
<TABLE>
<CAPTION>
Class Floor Hit? Floored
Class Floors (Y/N) Prin Amount
----- ------ ---------- -----------
<S> <C> <C> <C>
A N/A
B -- No 226,930.76
C -- No 153,727.29
D -- No 36,601.73
E -- No 39,529.87
</TABLE>
<TABLE>
<S> <C> <C>
(Retained) Certificate Balance 4,202,483.00
Initial OC Percentage 2.40%
Overcollateralization Balance (prior) 4,202,483.00
Overcollateralization Balance (current) 4,202,483.00
Cumulative Loss Amount 0.00
Available Funds+Collection Account-Servicing 5,493,911.35
</TABLE>
Page 10
<PAGE> 31
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 1999-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - TESTS
COLLECTION PERIOD ENDED JULY 1, 2000
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C>
A) Failure to distribute to the Noteholders all or part of any payment
of Interest required to be made under the terms of such Notes or the
Indenture when due; and, No
B) Failure to distribute to the Noteholders (x) on any Payment Date, an
amount equal to the principal due on the Outstanding Notes as of such
Payment Date to the extent that sufficient Available Funds are on deposit
in the Collection Account of (y) on the Class A-1 Maturity Date, the Class
A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity
Date, the Class B Maturity Date, the Class C Maturity Date, the Class D
Maturity Date, or the Class E Maturity Date, as the case may be, on any
remaining principal owed on the outstanding Class A-1 Notes, Class A-2
Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes,
Class D Notes, or Class E Notes, as the case may be. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
-------- ----------------------------------------------------------------------------------------------------- ------
<S> <C> <C>
6.01(i) Failure to make payment, deposit, transfer, or delivery required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants in Servicing Agreement No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dismissed within 60 days No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
</TABLE>
Page 11
<PAGE> 32
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: $ 1,671,274.00
Disbursements from Collection Account: Section 3.05 of the Indenture
(i) Initial Unpaid Amounts or servicing charges inadvertently deposited in Collection Account $ 0.00
(ii) Indemnity Payments paid inadvertently deposited in Collection Account $ 0.00
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances (Other than current Collection Period) $ 59.34
(b) Servicer Fees from current and prior Collection Period $ 78,310.03
(iv) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees $ 416.67
(v) Reimbursable Trustee Expenses: Section 7.07(a)(ii) $ 0.00
(vi) Class A-1 through A-2 Note Interest on a pari passu basis:
Class A-1 Note Interest $ 461,387.08
Class A-2 Note Interest $ 644,910.00
(vii) Class B Note Interest $ 93,099.33
(viii) Class A Base Principal Distribution Amount
Class A-1 Principal Distribution Amount $ 343,567.75
Class A-2 Principal Distribution Amount $ 0.00
(ix) Class B Base Principal Distribution Amount $ 0.00
(x) Supplemental Interest Reserve Account addition amount $ 49,523.80
(xi) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) $ 0.00
(xii) Excess to Trust Certificate Holder $ 0.00
</TABLE>
Reviewed By:
------------------------------------------------------
E. Roger Gebhart
Executive Vice President and Treasurer
Page 1
<PAGE> 33
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of June 30, 2000 448,348.79
Investment earnings on amounts in Collection Account 4,215.46
Payments due Collection Account from last 3 business days of Collection Period 102,365.16
Servicer Advance on current Determination Date 1,116,344.59
Additional Contribution for loss on termination 0.00
Deposit from Reserve Account 0.00
Deposit from Letter of Credit Account 0.00
AVAILABLE FUNDS ON PAYMENT DATE 1,671,274.00
Initial Unpaid Amounts inadvertently deposited in Collection Account 0.00
REMAINING AVAILABLE FUNDS 1,671,274.00
Indemnity Payments paid inadvertently deposited in Collection Account 0.00
REMAINING AVAILABLE FUNDS 1,671,274.00
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due 59.34
Unreimbursed Servicer Advances paid 59.34
---------------
Unreimbursed Servicer Advances remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 1,671,214.66
SERVICER FEES
Servicer Fees due 78,310.03
Servicer Fees paid 78,310.03
---------------
Servicer Fees remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 1,592,904.63
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT 0.00
REMAINING AVAILABLE FUNDS 1,592,904.63
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
---------------
Indenture Trustee Fee remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 1,592,487.96
REIMBURSABLE TRUSTEE EXPENSES PER SECTION 7.07(a)(ii)
Total Indenture Trustee Expenses due 0.00
Cap on Indenture Trustee Expenses per section 7.07(a)(ii) 75,000.00
Total Indenture Trustee Expenses paid 0.00
---------------
Indenture Trustee Expenses unpaid 0.00
REMAINING AVAILABLE FUNDS 1,592,487.96
CLASS A-1 THROUGH A-2 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest due 461,387.08
Class A-1 Note Interest paid 461,387.08
---------------
Class A-1 Interest remaining unpaid 0.00
Class A-2 Note Interest due 644,910.00
Class A-2 Note Interest paid 644,910.00
---------------
Class A-2 Interest remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 486,190.88
</TABLE>
Page 2
<PAGE> 34
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS B NOTE INTEREST
Class B Note Interest due 93,099.33
Class B Note Interest paid 93,099.33
---------------
Class B Note Interest remaining unpaid 0.00
REMAINING AVAILABLE FUNDS 393,091.55
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance as of preceding Payment Date 74,291,339.96
Class A-1 Base Principal Distribution due 343,567.75
Class A-1 Base Principal Distribution Amount paid 343,567.75
---------------
Class A-1 Base Principal Distribution remaining unpaid 0.00
Class A-1 Note Principal Balance after distribution on Payment Date 73,947,772.21
Class A-2 Note Principal Balance as of preceding Payment Date 99,600,000.00
Class A-2 Base Principal Distribution due 0.00
Class A-2 Base Principal Distribution Amount paid 0.00
---------------
Class A-2 Base Principal Distribution remaining unpaid 0.00
Class A-2 Note Principal Balance after distribution on Payment Date 99,600,000.00
REMAINING AVAILABLE FUNDS 49,523.80
CLASS B BASE PRINCIPAL DISTRIBUTION (BEGINNING JUNE 2001)
Class B Note Principal Balance as of preceding Payment Date 14,052,729.00
Class B Base Principal Distribution due 0.00
Class B Base Principal Distribution paid 0.00
---------------
Class B Base Principal Distribution remaining unpaid 0.00
Class B Note Principal Balance after distribution on Payment Date 14,052,729.00
REMAINING AVAILABLE FUNDS 49,523.80
SUPPLEMENTAL INTEREST RESERVE ACCOUNT
Supplemental Interest Reserve Account Addition 49,523.80
REMAINING AVAILABLE FUNDS 0.00
INDENTURE TRUSTEE EXPENSES IN EXCESS OF SECTION 7.07(a)(II)
Indenture Trustee Expenses unpaid per above 0.00
Remaining Indenture Trustee Expenses paid 0.00
---------------
Remaining Indenture Trustee Expenses unpaid 0.00
REMAINING AVAILABLE FUNDS 0.00
AMOUNT PAYABLE TO TRUST CERTIFICATE HOLDER 0.00
</TABLE>
Page 3
<PAGE> 35
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
RESERVE ACCOUNT: SECTION 3.04(a)
Initial Reserve Account Balance 4,471,068.41
Plus: Earnings for Collection Period per Section 3.04(b) 23,570.21
Less: Withdrawal per Section 3.04(c) --
Ending Reserve Account Balance 4,494,638.62
LETTER OF CREDIT ACCOUNT: SECTION 3.08(a)
Initial Letter of Credit Account Balance --
Plus: Earnings for Collection Period --
Plus: Additions from draws under Section 3.08(b) --
Less: Withdrawal pursuant to Section 3.08(c), To Collection Account --
Ending Letter of Credit Account Balance --
SUPPLEMENTAL INTEREST RESERVE ACCOUNT: SECTION 3.09(b)
Available Amounts for Related Collection Period less: Items 3.05(i) through (ix) 49,523.80
Supplemental Interest Reserve Account Addition (Up to Supplemental Interest 49,523.80
Required Amount)
Supplemental Interest Reserve Account Distribution to Collection Account --
Supplemental Interest Reserve Required Amount calculation
Beginning Balance 103,659.76
Plus: Additions (Upto 1% of Initial ADCPB) 49,523.80
Plus: Earnings for Collection Period 365.39
Less: Required Distributions, To Collection Account --
Ending Supplemental Interest Reserve Account Balance 153,548.95
</TABLE>
Page 4
<PAGE> 36
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CALCULATION OF BASE PRINCIPAL AMOUNT
ADCPB, beginning of Collection Period 187,944,068.96
ADCPB, end of Collection Period 187,600,501.21
---------------
Base Principal Amount 343,567.75
UNREIMBURSED SERVICING ADVANCES
Unreimbursed Servicing Advances from previous Collection Period 783,905.57
Servicing Advances collected during the current Collection Period 783,846.23
---------------
Unreimbursed Servicing Advances as of current Determination Date 59.34
CALCULATION OF SERVICER FEE
ADCPB as of the prior Calculation Date 187,944,068.96
Servicer Fee Rate 0.500%
One-twelfth 1/12
---------------
Servicer Fee due current period 78,310.03
Prior Servicer Fee arrearage --
---------------
Servicer Fee due 78,310.03
INDENTURE TRUSTEE FEE (PER PAYMENT DATE)
Indenture Trustee Fee (per Payment Date) 416.67
Prior Indenture Trustee Fee arrearage 0.00
---------------
Total Indenture Trustee Fee due 416.67
INDENTURE TRUSTEE EXPENSES
Indenture Trustee Expenses due 0.00
Prior Indenture Trustee Expenses arrearage 0.00
---------------
Total Indenture Trustee Expenses due 0.00
OTHER AMOUNTS DUE SERVICER UNDER SERVICING AGREEMENT
Other Amounts Due Servicer under Servicing Agreement - current period 0.00
Prior Other Amounts Due Servicer under Servicing Agreement - arrearage 0.00
---------------
Total Other Amounts Due Servicer under Servicing Agreement 0.00
</TABLE>
Page 5
<PAGE> 37
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
INTEREST PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning Total Total
Initial of Period Interest Current Overdue Interest Interest Interest
Class Balance Balance Rate Interest Due Interest Due Paid Shortfall
------------ -------------- -------------- -------- ------------ --------- ------------ ------------ ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 75,000,000.00 74,291,339.96 7.490% 463,701.78 (2,314.70) 461,387.08 461,387.08 0.00
A-2 99,600,000.00 99,600,000.00 7.770% 644,910.00 0.00 644,910.00 644,910.00 0.00
------------ -------------- -------------- -------- ------------ --------- ------------ ------------ ---------
Class A 174,600,000.00 173,891,339.96 1,108,611.78 (2,314.70) 1,106,297.08 1,106,297.08 0.00
------------ -------------- -------------- -------- ------------ --------- ------------ ------------ ---------
B 14,052,729.00 14,052,729.00 7.950% 93,099.33 0.00 93,099.33 93,099.33 0.00
------------ -------------- -------------- -------- ------------ --------- ------------ ------------ ---------
Total Notes 188,652,729.00 187,944,068.96 1,201,711.11 (2,314.70) 1,199,396.41 1,199,396.41 0.00
------------ -------------- -------------- -------- ------------ --------- ------------ ------------ ---------
</TABLE>
PRINCIPAL PAYMENTS TO NOTEHOLDERS
<TABLE>
<CAPTION>
Beginning Current End Ending
of Period Principal Principal of Period Certificate
Class Balance Due Paid Balance Factor
----------- -------------- ---------- ---------- -------------- ------------
<S> <C> <C> <C> <C> <C>
A-1 74,291,339.96 343,567.75 343,567.75 73,947,772.21 0.98597030
A-2 99,600,000.00 0.00 0.00 99,600,000.00 1.00000000
----------- -------------- ---------- ---------- -------------- ------------
Class A 173,891,339.96 343,567.75 343,567.75 173,547,772.21
----------- -------------- ---------- ---------- -------------- ------------
B 14,052,729.00 0.00 0.00 14,052,729.00 1.00000000
----------- -------------- ---------- ---------- -------------- ------------
Total Notes 187,944,068.96 343,567.75 343,567.75 187,600,501.21
----------- -------------- ---------- ---------- -------------- ------------
</TABLE>
<TABLE>
<CAPTION>
Beginning Base Principal Principal
Principal of Period Overdue Distribution Payment
Percent Balance Principal Amount Amount
--------- -------------- --------- -------------- ----------
<S> <C> <C> <C> <C> <C>
Class A 100.00% 173,891,339.96 0.00 343,567.75 343,567.75
Class B 0.00% 14,052,729.00 0.00 0.00 0.00
</TABLE>
<TABLE>
<S> <C>
Base Principal Amount: 343,567.75
Gross Charge Off Event? No
Available Funds less Fees: 1,592,487.96
</TABLE>
Page 6
<PAGE> 38
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
EVENTS OF DEFAULT: SECTION 8.01 OF INDENTURE
<TABLE>
<CAPTION>
Yes/No
------
<S> <C> <C>
a) Failure to distribute to the Noteholders all or part of any payment of
Interest required to be made under the terms of such Notes or the
Indenture when due; and, No
b) Failure to distribute to the Noteholders (x) on any Payment Date, an
amount equal to the No principal due on the Outstanding Notes as of
such Payment Date to the extent that sufficient Available Funds are on
deposit in the Collection Account of (y) on the Class A-1 Maturity
Date, the Class A-2 Maturity Date, the Class B Maturity Date, as the
case may be, on any remaining principal owed on the outstanding Class
A-1 Notes, Class A-2 Notes, Class B Notes, as the case may be. No
c) Failure on the part of the Trust duly to observe or perform in any
material respect any other Covenants or Agreements. No
d) The Trust shall consent to the appointment of a Custodian, Receiver,
Trustee, or Liquidator, etc. No
e) The Trust shall file a voluntary petition in bankruptcy or a voluntary
petition or answer seeking reorganization in a proceeding under any
bankruptcy laws etc. No
f) A petition against the Trust in a proceeding under applicable bank
laws or other insolvency laws, No as now or hereafter in effect, shall
be filled and shall be consented to by the Trust or shall not be
stayed, withdrawn, or dismissed within 60 days thereafter, etc. No
</TABLE>
EVENTS OF SERVICER TERMINATION: SECTION 6.01 OF SERVICING AGREEMENT
<TABLE>
<CAPTION>
Section Event Yes/No
--------- ----- -------
<S> <C> <C>
6.01(i) Failure to make payment, deposit, transfer, or delivery required No
6.01(ii) Failure to submit Monthly Statement No
6.01(iii) Failure to Observe Covenants or Agreements in Transaction Documents No
6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No
6.01(v) Servicer files a voluntary petition for bankruptcy No
6.01(vi) Petition under bankruptcy laws against Servicer is not stayed, withdrawn
or dismissed within 60 days No
6.01(vii) Assignment by Servicer to a delegate its rights under Servicing Agreement No
</TABLE>
Page 7
<PAGE> 39
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C> <C>
AGING DELINQUENCY STATISTICS - AS OF COLLECTION PERIOD END
Current 187,482,584.99 99.94%
31 - 60 days past due 86,442.71 0.05%
61 - 90 days past due 31,473.51 0.02%
91+ days past due 0.00 0.00%
----------------
187,600,501.21
PUTBACK SUMMARY
Defaults for Related Collection Period 0.00
Total Defaulted Contracts 0.00
Recoveries from Reserve Account for Current Period 0.00
Total Recoveries from Reserve Account 0.00
Net Remaining Defaulted 0.00
Recoveries from Source Recourse (Up to Available Source Recourse)
Recoveries from Draw on Letter of Credit Account
10% LIMITED RECOURSE AMOUNT
Beginning Amount available under 10% limited recourse 19,238,909.32
Beginning % available under 10% limited recourse 10.0000%
Current months buy backs under 10% limited recourse obligation 0.00
Cumulative amount bought back under 10% limited recourse obligation 0.00
Cumulative % bought back under 10% limited recourse obligation 0.0000%
LETTERS OF CREDIT
Beginning Value of the 2 Letters of Credit 20,000,000.00
Amount of step down in the Letters of Credit 0.00
Ending Value of the 2 Letters of Credit 20,000,000.00
</TABLE>
<TABLE>
<CAPTION>
LETTER OF CREDIT DRAW EVENTS (NO/YES)
--------
<S> <C>
(i) Non Performance of Buy Back Obligation - Deposit full
amount of both LOCs (No/Yes): No
(ii) Downgrade by Confirming bank - Deposit full amount of
relevant LOC:
Northern Trust Company (Downgraded below Aa/AA by Moody's
and S&P respectively) No
Bank One (Downgraded below Aa/A by Moody's and S&P
respectively) No
(iii) Non-Renewal of Letters of Credit for 364 days by
issuing or confirming bank: No
Deposit full amount of relevant LOC:
Draw on Letters of Credit? No
If a draw on the letters of credit, amount deposited in
Letter of Credit Account 0.00
</TABLE>
Page 8
<PAGE> 40
FIRST SIERRA HEALTHCARE EQUIPMENT CONTRACT TRUST 2000-1
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - INPUT SHEET
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<CAPTION>
GROSS CHARGE EVENT CALCULATION: Result
------
<S> <C>
Defaulted Contracts Current Period
Total Defaulted Contracts Prior Period 0.00%
Total Initial ADCPB 0.00%
------
% Total Defaulted 0.00%
Maximum Allowed 10.00%
Gross Charge Off Event: No
</TABLE>
Page 9
<PAGE> 41
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PAYMENT SUMMARY
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
Available Amount to Note Holders: 6,433,237.70
Reserve Account balance, beginning 2,114,952.31
Disbursements from Collection Account: Section 3.05(a) of the Indenture
(i) Initial Unpaid Amounts inadvertently deposited in Collection Account --
(ii) Indemnity Payments paid inadvertently deposited in Collection Account --
(iii) Aggregate of:
(a) Unreimbursed Servicer Advances --
(b) Servicer Fees from current and prior Collection Period 88,123.01
(c) Servicing Charges inadvertently deposited in Collection Account --
(iv) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 416.67
(v) Reimbursable Trustee Expenses pre 7.07(a)(ii) --
(vi) Class A-1 through A-4 Note Interest on a pari passu basis:
Class A-1 Note Interest 183,141.76
Class A-2 Note Interest 114,859.53
Class A-3 Note Interest 203,160.73
Class A-4 Note Interest 133,330.83
(vii) Class B Note Interest 86,730.67
(viii) Class C Note Interest 54,918.26
(ix) Class D Note Interest 25,695.50
(x) Class A Base Principal Distribution Amount
Class A-1 Principal Distribution Amount 4,884,799.25
Class A-2 Principal Distribution Amount --
Class A-3 Principal Distribution Amount --
Class A-4 Principal Distribution Amount --
(xi) Class B Base Principal Distribution Amount --
(xii) Class C Base Principal Distribution Amount --
(xiii) Class D Base Principal Distribution Amount --
(xv) Class E Note Interest 16,738.35
(xvi) Class E Principal Distribution Amount --
(xviii) Reserve Account Reimbursement/(Withdrawal) 0.00
(xix) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) --
(xx) Remaining Amount to Residual Holder 641,323.14
Reserve Account balance, ending 2,114,952.31
Disbursements from Reserve Account:
Interest earned on Reserve Account to Residual Holder 751.26
</TABLE>
Reviewed By:
----------------------------------------------
SANDY B. HO
EVP & CFO
<PAGE> 42
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
AVAILABLE FUNDS
Collection Account balance, as of June 30, 2000 2,019,501.93
Investment earnings on amounts in Collection Account 570.83
Payments due Collection Account from last 3 business days of Collection Period 291,291.83
Additional contribution for terminated trade-ups and rebooked leases 552,831.18
Servicer Advance on current Determination Date 3,569,041.93
------------
AVAILABLE FUNDS ON PAYMENT DATE 6,433,237.70
Reserve Account balance 2,114,952.31
------------
TOTAL AVAILABLE FUNDS 8,548,190.01
Initial Unpaid Amounts inadvertently deposited in Collection Account --
------------
REMAINING AVAILABLE FUNDS 8,548,190.01
Indemnity Payments paid inadvertently deposited in Collection Account --
------------
REMAINING AVAILABLE FUNDS 8,548,190.01
UNREIMBURSED SERVICER ADVANCES
Unreimbursed Servicer Advances due --
Unreimbursed Servicer Advances paid --
------------
Unreimbursed Servicer Advances remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 8,548,190.01
SERVICER FEES
Servicer Fees due 88,123.01
Servicer Fees paid 88,123.01
------------
Servicer Fees remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 8,460,067.00
SERVICER CHARGES INADVERTENTLY DEPOSITED IN COLLECTION ACCOUNT --
------------
REMAINING AVAILABLE FUNDS 8,460,067.00
INDENTURE TRUSTEE FEE DUE ON PAYMENT DATE AND UNPAID INDENTURE TRUSTEE FEES
Indenture Trustee Fee due 416.67
Indenture Trustee Fee paid 416.67
------------
Indenture Trustee Fee remaining unpaid --
------------
REMAINING AVAILABLE FUNDS 8,459,650.33
REIMBURSABLE TRUSTEE EXPENSES PER 7.07(a)(II)
Total Indenture Trustee Expenses due --
Cap on Indenture Trustee Expenses per 7.07 (a)(ii) 75,000.00
------------
Total Indenture Trustee Expenses paid --
------------
Indenture Trustee Expenses unpaid --
REMAINING AVAILABLE FUNDS 8,459,650.33
</TABLE>
Page 2
<PAGE> 43
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS A-1 THROUGH A-4 NOTE INTEREST ON A PARI PASSU BASIS:
Class A-1 Note Interest 183,141.76
Class A-2 Note Interest 114,859.53
Class A-3 Note Interest 203,160.73
Class A-4 Note Interest 133,330.83
Total Class A Interest due 634,492.85
-------------
REMAINING AVAILABLE FUNDS 7,825,157.48
CLASS B NOTE INTEREST
Class B Note Interest due 86,730.67
Class B Note Interest paid 86,730.67
-------------
Class B Note Interest remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 7,738,426.81
CLASS C NOTE INTEREST
Class C Note Interest due 54,918.26
Class C Note Interest paid 54,918.26
-------------
Class C Note Interest remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 7,683,508.55
CLASS D NOTE INTEREST
Class D Note Interest due 25,695.50
Class D Note Interest paid 25,695.50
-------------
Class D Note Interest remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 7,657,813.05
CLASS A BASE PRINCIPAL DISTRIBUTION
Class A Base Principal Distribution Amount due 4,767,564.07
Class A Note Principal Balance as of preceding Payment Date 64,437,542.00
-------------
Class A Base Principal Distribution Amount paid 4,767,564.07
-------------
Class A Base Principal Distribution Amount remaining unpaid --
Class A-1 Note Principal Balance as of preceding Payment Date 50,018,622.00
Class A-1 Base Principal Distribution Amount paid 4,767,564.07
-------------
Class A-1 Note Principal Balance after distribution 45,251,057.93
-------------
Remaining Class A Base Principal Distribution Amount --
-------------
Class A-2 Note Principal Balance as of preceding Payment Date 29,609,332.00
Class A-2 Base Principal Distribution Amount paid --
-------------
Class A-2 Note Principal Balance after distribution 29,609,332.00
Remaining Class A Base Principal Distribution Amount --
-------------
Class A-3 Note Principal Balance as of preceding Payment Date 51,393,341.00
Class A-3 Base Principal Distribution Amount paid --
-------------
Class A-3 Note Principal Balance after distribution 51,393,341.00
Remaining Class A Base Principal Distribution Amount --
-------------
Class A-4 Note Principal Balance as of preceding Payment Date 33,416,247.00
Class A-4 Base Principal Distribution Amount paid --
-------------
Class A-4 Note Principal Balance after distribution 33,416,247.00
REMAINING AVAILABLE FUNDS 2,890,248.98
</TABLE>
Page 3
<PAGE> 44
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS B BASE PRINCIPAL DISTRIBUTION
Class B Note Principal Balance as of preceding Payment Date 21,149,523.00
Class B Base Principal Distribution due --
Class B Base Principal Distribution paid --
-------------
Class B Base Principal Distribution remaining unpaid --
Class B Note Principal Balance after distribution on Payment Date 21,149,523.00
REMAINING AVAILABLE FUNDS 2,890,248.98
CLASS C BASE PRINCIPAL DISTRIBUTION
Class C Note Principal Balance as of preceding Payment Date 12,689,714.00
Class C Base Principal Distribution due --
Class C Base Principal Distribution paid --
-------------
Class C Base Principal Distribution remaining unpaid --
Class C Note Principal Balance after distribution on Payment Date 12,689,714.00
REMAINING AVAILABLE FUNDS 2,890,248.98
CLASS D BASE PRINCIPAL DISTRIBUTION
Class D Note Principal Balance as of preceding Payment Date 4,229,905.00
Class D Base Principal Distribution due --
Class D Base Principal Distribution paid --
-------------
Class D Base Principal Distribution remaining unpaid --
Class D Note Principal Balance after distribution on Payment Date 4,229,905.00
REMAINING AVAILABLE FUNDS 2,890,248.98
CLASS A REALLOCATED PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Base Principal 45,251,057.93
Class A-1 Reallocated Principal Distribution --
-------------
Class A-1 Note Principal Balance after Reallocation 45,251,057.93
Remaining Available Funds 2,890,248.98
-------------
Class A-2 Note Principal Balance after Base Principal 29,609,332.00
Class A-2 Reallocated Principal Distribution --
-------------
Class A-2 Note Principal Balance after Reallocation 29,609,332.00
Remaining Available Funds 2,890,248.98
-------------
Class A-3 Note Principal Balance after Base Principal 51,393,341.00
Class A-3 Reallocated Principal Distribution --
-------------
Class A-3 Note Principal Balance after Reallocation 51,393,341.00
Remaining Available Funds 2,890,248.98
-------------
Class A-4 Note Principal Balance after Base Principal 33,416,247.00
Class A-4 Reallocated Principal Distribution --
-------------
Class A-4 Note Principal Balance after Reallocation 33,416,247.00
REMAINING AVAILABLE FUNDS 2,890,248.98
CLASS B REALLOCATED PRINCIPAL DISTRIBUTION
Class B Note Principal Balance after Base Principal 21,149,523.00
Class B Reallocated Principal Distribution paid --
-------------
Class B Note Principal Balance after Reallocation 21,149,523.00
REMAINING AVAILABLE FUNDS 2,890,248.98
</TABLE>
Page 4
<PAGE> 45
FIRST SIERRA EQUIPMENT CONTRACT TRUST SERIES 2000-2
FIRST SIERRA RECEIVABLES III, INC.
MONTHLY SERVICER CERTIFICATE - PRIORITY OF PAYMENTS
COLLECTION PERIOD ENDED JULY 1, 2000
<TABLE>
<S> <C>
CLASS C REALLOCATED PRINCIPAL DISTRIBUTION
Class C Note Principal Balance after Base Principal 12,689,714.00
Class C Reallocated Principal Distribution paid --
-------------
Class C Note Principal Balance after Reallocation 12,689,714.00
REMAINING AVAILABLE FUNDS 2,890,248.98
CLASS D REALLOCATED PRINCIPAL DISTRIBUTION
Class D Note Principal Balance after Base Principal 4,229,905.00
Class D Reallocated Principal Distribution paid --
Class D Note Principal Balance after Reallocation 4,229,905.00
REMAINING AVAILABLE FUNDS 2,890,248.98
CLASS E NOTE INTEREST
Class E Note Interest due 16,738.35
Class E Note Interest paid 16,738.35
-------------
Class E Note Interest remaining unpaid --
-------------
REMAINING AVAILABLE FUNDS 2,873,510.63
CLASS E BASE PRINCIPAL DISTRIBUTION
Class E Note Principal Balance as of preceding Payment Date 4,124,157.00
Class E Base Principal Distribution due --
Class E Base Principal Distribution paid --
-------------
Class E Base Principal Distribution remaining unpaid --
Class E Note Principal Balance after distribution on Payment Date 4,124,157.00
REMAINING AVAILABLE FUNDS 2,873,510.63
CLASS E REALLOCATED PRINCIPAL DISTRIBUTION
Class E Note Principal Balance after Base Principal 4,124,157.00
Class E Reallocated Principal Distribution paid --
Class E Note Principal Balance after Reallocation 4,124,157.00
REMAINING AVAILABLE FUNDS 2,873,510.63
CLASS A SUPPLEMENTAL PRINCIPAL DISTRIBUTION
Class A-1 Note Principal Balance after Reallocated Principal 45,251,057.93
Class A-1 Supplemental Principal Distribution 117,235.18
-------------
Class A-1 Note Principal Balance after Supplemental 45,133,822.75
Remaining Available Funds 2,756,275.45
-------------
Class A-2 Note Principal Balance after Reallocated Principal 29,609,332.00
Class A-2 Supplemental Principal Distribution --
-------------
Class A-2 Note Principal Balance after Supplemental 29,609,332.00
Remaining Available Funds 2,756,275.45
-------------
Class A-3 Note Principal Balance after Reallocated Principal 51,393,341.00
Class A-3 Supplemental Principal Distribution --
-------------
Class A-3 Note Principal Balance after Supplemental 51,393,341.00
Remaining Available Funds 2,756,275.45
-------------
Class A-4 Note Principal Balance after Reallocated Principal 33,416,247.00
Class A-4 Supplemental Principal Distribution --
-------------
Class A-4 Note Principal Balance after Supplemental 33,416,247.00
REMAINING AVAILABLE FUNDS 2,756,275.45
</TABLE>
Page 5
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