================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): January 13, 1999
FIRST UNION COMMERCIAL MORTGAGE SECURITIES, INC.
--------------------------------------------------------------------
(Exact name of registrant as specified in its governing instruments)
DELAWARE 333-62671 56-1643598
- ---------------------------- ------------------------- -------------------
(State or other jurisdiction (Commission File Numbers) (I.R.S. Employer
of Incorporation) Identification No.)
ONE FIRST UNION CENTER
CHARLOTTE, NORTH CAROLINA 28228-0600
----------------------------------------
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (704) 374-6828
Exhibit Index appears on
page 4
================================================================================
<PAGE>
ITEM 5. OTHER EVENTS
On or about February 8, 1998, the Registrant will cause the sale of
approximately $1,035,318,205 principal amount of Mortgage Pass-Through
Certificates, Series 1999-C1, in several classes (collectively, the
"Certificates") pursuant to a Pooling and Servicing Agreement to be dated as of
December 1, 1998, among the Registrant, First Union National Bank as master
servicer, Lennar Partners, Inc. as special servicer and Norwest Bank Minnesota,
National Association as trustee (the "Pooling and Servicing Agreement").
In connection with the sale of certain classes of the Certificates
(collectively, the "Underwritten Certificates") pursuant to a Prospectus
Supplement relating to certain classes of the Certificates, the Registrant has
been advised by Morgan Stanley & Co. Incorporated and First Union Capital
Markets (the "Underwriters") that the Underwriters have, following the effective
date of Registration Statement No. 333-62671, furnished to one or more
prospective investors on January 13, 1999 (i) a Term Sheet setting forth certain
information about certain of the mortgage loans (the "Mortgage Loans") in the
trust under the Pooling and Servicing Agreement and the size and structure of
the potential offering (the "Term Sheet"), (ii) three Mortgage Loan schedules
setting forth certain information with respect to the Mortgage Loans (the
"Mortgage Loan Schedules") and (iii) a table setting forth certain prepayment
restrictions with respect to the Mortgage Loans (the "Prepayment Restrictions
Table"). Each of the Term Sheet, the Mortgage Loan Schedules and the Prepayment
Restrictions Table is being filed as an exhibit to this report.
Each of the Term Sheet, the Mortgage Loan Schedules and the Prepayment
Restrictions Table has been provided by the Underwriters. The information in the
Term Sheet is preliminary and will be superseded by the Prospectus Supplement
relating to the Underwritten Certificates and by any other information
subsequently filed with the Securities and Exchange Commission.
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
<TABLE>
<CAPTION>
Item 601(a) of Regulation
Exhibit Number S-K Exhibit No. Description
-------------- ------------------------- -----------
<S> <C> <C> <C>
1 99 Term Sheet
2 99 Mortgage Loan Schedules
3 99 Prepayment Restrictions Schedules
</TABLE>
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST UNION COMMERCIAL
MORTGAGE SECURITIES,INC.
By: /s/ BRIAN E. SIMPSON
----------------------------------
Name: Brian E. Simpson
Title: President
Dated: January 13, 1999
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT INDEX
Item 601(a) of Regulation
Exhibit Number S-K Exhibit No. Description
-------------- ------------------------- -----------
<S> <C> <C> <C>
1 99 Term Sheet
2 99 Mortgage Loan Schedules
3 99 Prepayment Restrictions Schedules
</TABLE>
ANNEX B
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
CMBS ISSUANCE
PRELIMINARY STRUCTURAL AND COLLATERAL TERM SHEET
------------------------------------------
EXPECTED PRICING DATE: JANUARY 26, 1999
------------------------------------------
$1,035,531,205
(APPROXIMATE)
FIRST UNION COMMERCIAL MORTGAGE SECURITIES, INC.
AS DEPOSITOR
FIRST UNION NATIONAL BANK
AS MORTGAGE LOAN SELLER
------------------------------------------
FIRST UNION CAPITAL MARKETS MORGAN STANLEY DEAN WITTER
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
CERTAIN OFFERING POINTS
NEWLY ORIGINATED COLLATERAL. The collateral consists of 238 Mortgage Loans with
a principal balance (as of February 1, 1999, the "Cut-off Date") of
approximately $1,163,518,250. The Mortgage Loans were all originated by First
Union National Bank.
CALL PROTECTION. 100% of the Mortgage Loans contain call protection provisions.
99.4% of the Mortgage Loans provide for initial lockout period followed by i)
defeasance; or ii) yield maintenance; or/and iii) percentage penalty. The
weighted average lockout and defeasance period for all loans is 10.2 years. The
Mortgage Loans are generally prepayable without penalty between zero to six
months from Mortgage Loan maturity.
<TABLE>
<S> <C> <C>
- ------------------------------------------------------------------------------------- ----------------- -----------------
TYPE OF CALL PROTECTION # OF LOANS % OF BALANCE
- ------------------------------------------------------------------------------------- ----------------- -----------------
Prohibits prepayment or only permits defeasance for most of term 192 80.4%
- ------------------------------------------------------------------------------------- ----------------- -----------------
Prohibits prepayment until date specified in related Mortgage Note and then
imposes either a Yield Maintenance Charge or a Percentage Premium (but not both)
for most of remaining term 30 16.1%
- ------------------------------------------------------------------------------------- ----------------- -----------------
Prohibits prepayment or only permits defeasance for at least the first ten years
and thereafter permits prepayments without Yield Maintenance Charge or
Percentage Premium for a period greater than one year 12 2.2%
- ------------------------------------------------------------------------------------- ----------------- -----------------
Prohibits prepayment until date specified in related Mortgage Note, then imposes
a Yield Maintenance Charge for a period, and then a Percentage Premium for the
remaining term 3 0.7%
- ------------------------------------------------------------------------------------- ----------------- -----------------
Permits prepayment during the first two (2) years of the term if accompanied by
a Yield Maintenance Charge for remaining term, and thereafter permits defeasance
for balance of term 1 0.6%
- ------------------------------------------------------------------------------------- ----------------- -----------------
</TABLE>
$4.89 MILLION AVERAGE LOAN BALANCE AS OF THE CUT-OFF DATE.
1.36X WEIGHTED AVERAGE DEBT SERVICE COVERAGE RATIO ("DSCR") (EXCLUDING CTLS) AS
OF THE CUT-OFF DATE.
72.7% WEIGHTED AVERAGE LOAN TO VALUE ("LTV) (EXCLUDING CTLS) AS OF THE CUT-OFF
DATE.
PROPERTY TYPE DIVERSIFICATION. Multifamily 41.9%, Retail 22.0%, Hospitality
10.3%, Office 10.0%, Credit Tenant Lease ("CTL") 9.9%, Health Care 3.9%,
Industrial/Warehouse 0.9% and Other 1.1%
GEOGRAPHIC DIVERSIFICATION. Florida (12.7%), California (10.1%), Georgia (9.8%),
Texas (7.8%), New York (7.5%), Maryland (7.0%), Pennsylvania (6.2%) and North
Carolina (5.4%); 25 other states and the District of Columbia less than 5% each.
MONTHLY INVESTOR REPORTING. Updated collateral summary information will be part
of the monthly remittance report in addition to detailed P & I - payment and
delinquency information. Quarterly NOI and occupancy information to the extent
delivered by borrowers, will be available to Certificateholders.
CASH FLOWS WILL BE MODELED ON BLOOMBERG.
Except as otherwise indicated, percentages (%) represent the principal amount of
loan or loans compared to aggregate pool balance, as of the Cut-off Date (the
"Cut-off Date Pool Balance").
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
- --------------- -------------------- ----------------- ------------- ------------ --------------- ----------------- ----------------
SETTLEMENT DATE
CERTIFICATE
BALANCE OR CUT-OFF DATE RATING EXPECTED FINAL
NOTIONAL SUBORDINATION (MOODY'S/ AVERAGE PRINCIPAL DISTRIBUTION PASS-THROUGH
CLASS AMOUNT(1) LEVEL S&P) LIFE(3) WINDOW(3)(4) DATE(3) Rate(5)
- --------------- -------------------- ----------------- ------------- ------------ --------------- ----------------- ----------------
A-1 222,414,205 28.55% Aaa/AAA 5.4 3/99-1/08 1/08 Fixed Rate
A-2 608,949,000 28.55% Aaa/AAA 9.5 1/08-10/08 10/08 Fixed Rate
IO-1 1,163,518,250(2) -- Aaa/AAAr 10.1 -- -- Variable Rate
B 58,273,000 23.54% Aa2/AA 9.7 10/08-12/08 12/08 Fixed Rate
C 61,186,000 18.28% A2/A 11.7 12/08-11/12 11/12 [NetWAC - __]
D 67,014,000 12.52% Baa2/BBB 14.3 11/12-6/13 6/13 [NetWAC - __]
E 17,482,000 11.02% Baa3/BBB- 14.5 6/13-8/13 8/13 [NetWAC - __]
IO-2(6) 128,200,046(2) -- Fixed Rate
F(6) 52,445,000 6.51% Fixed Rate
G(6) 37,877,000 3.26% Fixed Rate
H(6) 37,878,046 0.00% Fixed Rate
- --------------- -------------------- ----------------- ------------- ------------ --------------- ----------------- ----------------
</TABLE>
Notes:
(1) In the case of each such Class, subject to a permitted variance of
plus or minus 5%. The Settlement Date Certificate Balance is the
expected balance of each Class of Certificates after distributions to
FUNB, as record owner of the Offered Certificates prior to the
Settlement Date, of all principal due on each Mortgage Loan on
February 1, 1999 as described herein.
(2) Represents the notional balance.
(3) Based on Table Assumptions described in the Prospectus Supplement.
(4) Principal Window is the period (expressed in terms of months and
commencing with the March 1999 Distribution Date) during which
distributions of principal are expected to be made to the holders of
each designated Class in accordance with the Table Assumptions.
(5) Other than the Class C, D, E and IO-1 Certificates, each Class of
Certificates will accrue interest generally at a fixed rate of
interest as described in the Prospectus Supplement. The Class C, D, E
and IO-1 Certificates will accrue interest at variable rates as
described in the Prospectus Supplement. The pass-through rates shown
are only for indicative purposes. The final pass-through rates will be
determined at pricing.
(6) Not offered hereby.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-1
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
I. ISSUE CHARACTERISTICS
Issue Type: The Class A-1, A-2, IO-1, B, C, D and E Certificates
(the "Offered Certificates") are offered pursuant to
the Prospectus Supplement dated January [ ], 1999
and accompanying Prospectus dated January 8, 1999,
and the Class IO-2, F, G and H Certificates are not
offered hereby.
Securities Offered: $1,035,318,205 monthly pay, multi-class pay
commercial mortgage REMIC Pass-Through Certificates,
including three fixed-rate principal and interest
Classes (Classes A-1, A-2 and B), three variable
rate principal and interest Classes (C, D and E) and
one variable rate interest only class (Class IO-1).
The Certificates were issued on December 30, 1998
pursuant to a Pooling and Servicing Agreement among
the Depositor, the Seller, the Master Servicer, the
Special Servicer and the Trustee. The Offered
Certificates have not been previously offered to the
public.
Collateral: The collateral consists of a $1,163,518,250
pool of 238 fixed-rate commercial and
multifamily Mortgage Loans, of which 206 are
conduit loans consisting of $1,048,457,429 or
90.1% of the pool and 32 are CTL loans
consisting of $115,060,821 or 9.9% of the
pool.
Seller: First Union National Bank
Book-Running Lead Manager: First Union Capital Markets
Co-Lead Manager: Morgan Stanley Dean Witter
Master Servicer: First Union National Bank
Special Servicer: Lennar Partners, Inc.
Trustee: Norwest Bank Minnesota, National Association
Expecting Pricing Date: January 26, 1999
Expecting Settlement Date: February [ ], 1999
Distribution Dates: The 15th of each month. The first Distribution
Date on which investors will be entitled to
distributions will be March 15, 1999.
Minimum Denominations: $25,000 for the Class A-I and Class A-2
Certificates, and $50,000 for the Class IO-1, Class
B, Class C, Class D and Class E Certificates.
ERISA Considerations: Class A-1, A-2 and IO-1 Certificates are expected to
be ERISA eligible.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-2
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
SMMEA Eligibility: Class A-1, A-2, IO-1 and B Certificates are expected
to be SMMEA eligible.
Risk Factors: THE CERTIFICATES INVOLVE A DEGREE OF RISK AND MAY
NOT BE SUITABLE FOR ALL INVESTORS. SEE THE "RISK
FACTORS" SECTION OF PROSPECTUS SUPPLEMENT AND THE
"RISK FACTORS" SECTION OF THE PROSPECTUS.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-3
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
[BAR CHART]
Class IO-1(1)
[LEGEND]
----------------------- =========== ----------
Class A-1 Aaa/AAA [ %] === IO-1
----------------------- =========== --- IO-2
----------
------------------------- =========
Class A-2 Aaa/AAA [ %]
------------------------- =========
-------------------------- ========
Class B Aa2/AA [ %]
-------------------------- ========
--------------------------- =======
Class C A2/AA [WAC- %]
--------------------------- =======
---------------------------- ======
Class D Baa2/BBB [WAC- %]
---------------------------- ======
------------------------------ ====
Class E Baa3/BBB- [WAC- %]
------------------------------ ====
------------------ ------ ========
Class F -/- 5.35% 0.25%
------------------ ------ ========
------------------ ------ ========
Class F -/- 5.35% 0.25%
------------------ ------ ========
------------------ ------ ========
Class H NR/NR -/- 5.35% 0.25%
------------------ ------ ========
NR = Not Rated
Note: (1) The Class IO-1 Certificates will accrue interest at a variable rate as
described in the Prospectus Supplement.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-4
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
II. STRUCTURE CHARACTERISTICS
The Offered Certificates (other than the Class C, D, E and IO-1 Certificates)
are fixed-rate, monthly pay, multi-class, sequential pay REMIC Pass-Through
Certificates. The Class C, D, E and IO-1 Certificates will accrue interest at
variable rates as discussed in the Prospectus Supplement. All Classes of
Certificates derive their cash flows from the entire pool of Mortgage Loans.
Priority of Cash Flows:
[BAR CHART]
A bar chart describing the priority of cash flows as the "y" axis. With the
Class A-1 Notes on top and the Class H Notes on the bottom. The time for
repayment as the "x" axis, ranging from 0 to 600 months. Shaded and clear bars
distinguish between interest and principal payments.
Notes: (1) The Class A-1, A-2 and IO-1 Certificates will be paid interest on
a pro rata basis.
(2) The above analysis is based on the Table Assumptions described in
the Prospectus Supplement.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-5
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
Interest Distributions: Each Class of Certificates (other than the Class
IO-1 Certificates) will be entitled on each
Distribution Date to interest accrued at its
Pass-Through Rate on the outstanding Certificate
Balance or notional balance of such Class, as
applicable. The Class IO-1 Certificates will be
entitled on each Distribution Date to the aggregate
interest accrued on each of its components.
Pass-Through Rates: Class A-1: [ ___ ]%
Class A-2: [ ___ ]%
Class IO-1: Variable rate as described in the
Prospectus Supplement
Class B: [ ___ ]%
Class C: [Net WAC - ___ ]
Class D: [Net WAC - ___ ]
Class E: [Net WAC - ___ ]
Class F: 5.35%
Class G: 5.35%
Class H: 5.35%
Class IO-2: 0.25%
Principal Distributions: Principal will be distributed on each Distribution
Date to the Class of Principal Balance Certificates
outstanding, with the earliest
alphabetical/numerical Class designation, until its
Certificate Balance is reduced to zero. If, due to
losses, the Certificate Balances of the Class B
through Class H Certificates are reduced to zero or
Appraisal Reductions exceed the aggregate
Certificate Balance of the Subordinate Certificates,
payments of principal to the Class A-1 and A-2
Certificates will be made on a pro rata basis.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-6
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
Prepayment Premium All Prepayment Premiums are distributed to
Allocation: Certificateholders on the Distribution Date
following the one-month collection period in which
the prepayment occurred. All Prepayment Premiums
will be allocated among to the Class A through E, in
each case, up to the product of (i) the Prepayment
Premium, (ii) the "Discount Rate Fraction" and (iii)
the percentage of the total principal distribution
to Certificateholders to which such Class is
entitled. Any excess amounts will be distributed to
Class IO-1 Certificates.
The Discount Rate Fraction for Classes A through E
is defined as:
(Coupon on Class - Reinvestment Yield)/(Coupon on
Mortgage Loan - Reinvestment Yield)
Prepayment Premium A yield maintenance prepayment premium will
Allocation generally be equal to the present
Example: value of the reduction in interest payments as a
result of the prepayment through the maturity of the
Mortgage Loan, discounted at the yield of a Treasury
security of similar maturity in most cases
(converted from semi-annual to monthly pay). The
following reflects that method:
GENERAL PREPAYMENT PREMIUM ALLOCATION EXAMPLE:
Assuming the structure presented in this Term Sheet
and the following assumptions:
Only two Classes of Certificates: A-1 and IO-1.
Mortgage Loan characteristics of loan being prepaid:
Balance $10,000.000
Coupon 8.0%
Maturity 10 yrs (November 1, 2008)
Treasury Yield (monthly) 5.75%
Certificate
Characteristics:
Class A-1 Coupon 7.00%
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-7
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
<TABLE>
<CAPTION>
Discount Rate Fraction Example
<S> <C> <C>
CLASS A-1 CLASS I-O
Discount Rate Fraction Calculation CERTIFICATES CERTIFICATES
------------ ------------
(Class A-1 Coupon - Reinvestment (7.00%-5.75%)/
Yield)/ (8.00%-5.75%)= (100%-55.56%)=
(Gross Mortgage Rate - 1.25%/2.25%=
Reinvestment Yield)=
% of Premium allocated to Classes 55.56% 44.44%
(Discount Rate Fraction)
</TABLE>
Credit Enhancement: Each Class of Certificates other than Classes A-1,
A-2 and IO-1 (the "Senior Certificates") will be
subordinate to Senior Certificates and each other
Class with an earlier alphabetical Class
designation. The IO-2 Class of Certificates is not
rated and is subordinated to the Offered
Certificates.
Advancing: The Master Servicer and the Trustee will each be
obligated to make P&I Advances and Servicing
Advances, including delinquent property taxes and
insurance, but only to the extent that such Advances
are deemed recoverable.
Realized Losses and Losses and Additional Trust Fund Expenses, if any,
Expense Losses: Realized will be allocated to the Class H, Class G, Class F,
Class E, Class D, Class C, and Class B Certificates,
in that order, and then, pro rata, to Classes A-1
and A-2.
Prepayment Interest For any Distribution Date, any Net Aggregate
Shortfalls: Prepayment Interest Shortfall for such Distribution
Date will generally be allocated pro rata to each
Class of Certificates in proportion to its
entitlement to interest.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-8
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
Appraisal Reductions: An appraisal reduction generally will be created in
the amount, if any, by which the Principal Balance
of a Specially Serviced Mortgage Loan (plus other
amounts overdue in connection with such loan)
exceeds 90% of the appraised value of the related
Mortgaged Property. The Appraisal Reduction Amount
will reduce proportionately the amount of P&I
Advances for such loan, which reduction will result,
in general, in a reduction of interest distributable
to the most subordinate Class of Principal Balance
Certificates outstanding.
An Appraisal Reduction will be reduced to zero as of
the date the related Mortgage Loan has been brought
current for at least three consecutive months, paid
in full, liquidated, repurchased, or otherwise
disposed of.
Controlling Class: The Controlling Class will generally be the most
subordinate Class of Certificates outstanding at any
time or, if the Certificate Balance of such Class is
less than 25% of the initial Certificate Balance of
such Class, the next most subordinate Class of
Principal Balance Certificates.
Special Servicer: The Pooling and Servicing Agreement permits the
Special Servicer to modify, waive or amend any term
of any Mortgage Loan if it determines, in accordance
with the servicing standard, that it is appropriate
to do so.
Optional Termination: The Depositor, then the Master Servicer, then the
Special Servicer, and certain Certificateholders
will have the option to purchase, in whole but not
in part, the remaining assets of the Trust on or
after the Distribution Date on which the aggregate
Certificate Balance of all Classes of Certificates
then outstanding is less than or equal to
$11,654,540. Such purchase price will generally be
at a price equal to the unpaid aggregate Scheduled
Principal Balance of the Mortgage Loans, plus
accrued and unpaid interest and unreimbursed
Advances.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-9
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
Reports to The Trustee will prepare and deliver monthly
Certificateholders: Certificateholder Reports. The Special Servicer will
prepare and deliver to the Trustee a monthly Special
Servicer Report summarizing the status of each
Specially Serviced Mortgage Loan. The Master
Servicer and the Special Servicer will prepare and
deliver to the Trustee an annual report setting
forth, among other things, the debt service coverage
ratios for each Mortgage Loan, as available. Each of
the reports will be available to the
Certificateholders. A Report containing information
regarding the Mortgage Loans will be available
electronically.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-10
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
III. COLLATERAL DESCRIPTION
Summary: The Mortgage Pool consists of a $1,163,518,250 pool
of 238 fixed-rate, first lien, mortgage loans
secured by liens on commercial and multifamily
properties located throughout 33 states and the
District of Columbia. As of the Cut-Off Date, the
Mortgage Loans have a weighted average Mortgage Rate
of 7.048% and a weighted average remaining term to
maturity of 144 months. See the Prospectus
Supplement for more detailed collateral information.
<TABLE>
<CAPTION>
PROPERTY TYPE SUMMARY
---------------------
<S> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
INITIAL WEIGHTED
POOL WEIGHTED AVERAGE
BALANCE WEIGHTED AVERAGE DEBT WEIGHTED
AS OF AVERAGE REMAINING TERM SERVICE AVERAGE
NUMBER OF AGGREGATE BALANCE CUT-OFF MORTGAGE TO STATED COVERAGE LOAN TO
PROPERTY TYPE LOANS AS OF CUT-OFF DATE DATE RATE MATURITY RATIO VALUE
- ----------------------------- ----------- -------------------- ----------- ------------- ----------------- ------------ ------------
Multifamily 103 $487,631,769 41.9% 6.986% 138 mos 1.31x 76.7%
- ------------------------------------------------------------------------------------------------------------------------------------
Retail 48 $255,857,727 22.0 6.963 126 1.36 70.2
- ------------------------------------------------------------------------------------------------------------------------------------
Hospitality 25 $119,830,936 10.3 7.328 131 1.52 67.6
- ------------------------------------------------------------------------------------------------------------------------------------
Office 12 $116,125,557 10.0 6.934 141 1.31 70.8
- ------------------------------------------------------------------------------------------------------------------------------------
Health Care 10 $45,578,385 3.9 7.363 168 1.63 64.7
- ------------------------------------------------------------------------------------------------------------------------------------
Industrial 3 $10,991,335 0.9 7.282 114 1.41 74.8
- ------------------------------------------------------------------------------------------------------------------------------------
Mixed Use 2 $7,650,799 0.7 7.268 116 1.32 71.0
- ------------------------------------------------------------------------------------------------------------------------------------
Self Storage 2 $3,796,319 0.3 7.095 116 1.40 60.0
- ------------------------------------------------------------------------------------------------------------------------------------
Mobile Home Park 1 $994,603 0.1 7.250 117 1.26 71.3
- ------------------------------------------------------------------------------------------------------------------------------------
CTL(1) 32 $115,060,821 9.9 7.162 229 NAP NAP
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 238 $1,163,518,250 100.0% 7.048% 144 mos 1.36x 72.7%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note:(1) Includes 25 retail properties (7.3%), 6 hospitality properties (2.0%)
and one industrial property (0.6%).
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-11
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
Credit Tenant Lease Credit Tenant Lease Loans are secured by mortgages
Loans: on properties which are leased (each a "Credit
Tenant Lease"), to a tenant which possesses (or
whose parent or other affiliate which guarantees the
lease obligation possesses) the rating indicated in
the following table. Scheduled monthly rent payments
under the Credit Tenant Leases 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 Credit Tenant Lease Loans.
The Credit Tenant Lease Loans generally provide that
the Tenant is responsible for all costs and expenses
incurred in connection with the maintenance and
operation of the related Credit Tenant Lease
property and that, in the event of a casualty or
condemnation of a material portion of the related
Mortgaged Property:
(i) the Tenant is obligated to continue making
payments;
(ii) the Tenant must make an offer to purchase the
applicable property subject to the Credit
Tenant Lease for an amount not less than the
unpaid principal balance plus accrued interest
on related Credit Tenant Lease Loan; or
(iii) the Trustee on behalf of the
Certificateholders will have the benefit of
certain non-cancelable credit lease enhancement
policies obtained to cover certain casualty
and/or condemnation risks.
Approximately 9.9% of the Mortgage Loans are Credit
Tenant Lease Loans.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-12
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Cut-off S&P Moody's Lease Type
Property Name Guarantor/Tenant Property Type Date Balance ($) Rating Rating Code(1)
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Citrus Heights Rite Aid Corporation Drug Store 5,120,866.04 BBB+ Baa1 B
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Dixie Highway, Louisville Rite Aid Corporation Drug Store 2,560,917.25 BBB+ Baa1 B
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Portland Rite Aid Corporation Drug Store 2,265,426.08 BBB+ Baa1 B
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Battle Creek Rite Aid Corporation Drug Store 1,954,384.81 BBB+ Baa1 NN
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Dover Rite Aid Corporation Drug Store 2,628,580.48 BBB+ Baa1 B
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Littleton Rite Aid Corporation Drug Store 3,164,032.06 BBB+ Baa1 B
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Louisville - Taylor & Rite Aid Corporation Drug Store 2,340,129.51 BBB+ Baa1 B
Bluegrass
- -----------------------------------------------------------------------------------------------------------------------------------
Rite Aid Norfolk Rite Aid Corporation Drug Store 2,735,901.74 BBB+ Baa1 B
- ------------------------------------------------------------------------------------------------------------------------------------
Rite Aid Saginaw Genesee Rite Aid Corporation Drug Store 2,639,019.66 BBB+ Baa1 NN
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL RITE AID 25,409,266.63
- ------------------------------------------------------------------------------------------------------------------------------------
Motel 6 1118 Austin AP Accor SA Limited Service 5,866,628.32 BBB -- B
- ------------------------------------------------------------------------------------------------------------------------------------
Motel 6 1261 Houston - Spring Accor SA Limited Service 3,429,285.15 BBB -- B
- ------------------------------------------------------------------------------------------------------------------------------------
Motel 6 1273 Portland Accor SA Limited Service 4,610,168.48 BBB -- B
- ------------------------------------------------------------------------------------------------------------------------------------
Motel 6 134 San Antonio (N) Accor SA Limited Service 2,616,837.43 BBB -- B
- ------------------------------------------------------------------------------------------------------------------------------------
Motel 6 284 South Deerfield Accor SA Limited Service 3,297,026.22 BBB -- B
- ------------------------------------------------------------------------------------------------------------------------------------
Motel 6 352 Rapid City Accor SA Limited Service 4,043,344.48 BBB -- B
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL Motel 6 23,863,290.08
- ------------------------------------------------------------------------------------------------------------------------------------
Edwards Supermarket - Teaneck Royal Ahold, NV Grocery Store 8,505,273.14 A A3 NNN
- ------------------------------------------------------------------------------------------------------------------------------------
IHOP Douglasville Douglas Blvd IHOP Corporation Restaurant 1,253,787.12 Private(2) NNN
- ------------------------------------------------------------------------------------------------------------------------------------
Lowes Hattiesburg Weathersby Lowe's Companies, Inc Home Improvement 10,684,277.65 A A2 NN
- ------------------------------------------------------------------------------------------------------------------------------------
Lowe's Queensbury Lowes Companies, Inc. Home Improvement 11,617,882.85 A A2 NN
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL LOWE'S 22,302,160.50
- ------------------------------------------------------------------------------------------------------------------------------------
Walgreen Hialeah 4th Ave Walgreen Company Drug Store 2,401,280.67 A+ Aa3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
Walgreen Jacksonville St Augustine Walgreen Company Drug Store 2,506,522.81 A+ Aa3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
Walgreen Melbourne Wickham Walgreen Company Drug Store 2,709,583.17 A+ Aa3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
Walgreen Pembroke Pines Pines Walgreen Company Drug Store 2,725,955.38 A+ Aa3 NN
Boulevard
- ------------------------------------------------------------------------------------------------------------------------------------
Walgreens Ft Worth Walgreen Company Drug Store 2,357,764.11 A+ Aa3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL WALGREENS 12,701,106.14
- ------------------------------------------------------------------------------------------------------------------------------------
CVS Columbia Sparkleberry CVS Corporation Drug Store 1,783,025.22 A- A3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
CVS Rochester Henrietta CVS Corporation Drug Store 1,600,575.96 A- A3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
CVS Waltham Main CVS Corporation Drug Store 3,656,124.48 A- A3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
CVS York Richland CVS Corporation Drug Store 1,623,091.15 A- A3 NN
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL CVS 8,622,816.81
- ------------------------------------------------------------------------------------------------------------------------------------
Bunzl Hicksville Duffy Bunzl USA, Inc. Paper Packaging 6,467,952.90 Private(2) NN
- ------------------------------------------------------------------------------------------------------------------------------------
Eckerd - Charlotte - Harris Blvd Eckerd Corporation Drug Store 2,324,301.41 A- Baa1 NNN
- ------------------------------------------------------------------------------------------------------------------------------------
Eckerd Pompano Sample Eckerd Corporation Drug Store 2,416,142.08 A- Baa1 NN
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL ECKERD 4,740,433.49
- ------------------------------------------------------------------------------------------------------------------------------------
Sears Union Center Island Sears, Roebuck and Co. Automotive Retail 1,154,723.89 A- A2 NNN
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Unless otherwise indicated, such ratings were the highest assigned to the
applicable Tenant or Guarantor, as applicable, by Moody's and Standard & Poor's
respectively.
Notes: (1) "NNN" means triple net lease; "NN" means double net lease, "B"
means bond-type lease.
(2) Private rating; disclosure not available.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-13
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
[A map of the U.S. describing the percentage allocation of the Mortgage Loans
by state.]
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-14
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
POOL CHARACTERISTICS
MORTGAGE RATES (%)
- -------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- ------------- -----------
6.000-6.999 78 550,745,608 47.33
7.000-7.999 147 568,453,599 48.86
8.000-8.999 12 42,700,271 3.67
9.000-9.999 1 1,618,772 0.14
----- ------------- ----------
Total: 238 1,163,518,250 100.00
===== ============== ==========
Min: 6.125
Max: 9.125
Weighted Average Coupon: 7.048
- -------------------------------------------------------------------
ORIGINAL TERMS TO STATED MATURITY (MOS)
- -------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- ------------- -----------
equal or less than 84 6 40,390,577 3.47
85-120 149 764,994,178 65.75
121-144 2 13,994,181 1.20
145-180 30 137,604,816 11.83
181-240 31 152,399,643 13.10
241-360 20 54,134,856 4.65
----- ------------- ----------
Total: 238 1,163,518,250 100.00
===== ============== ==========
Min: 84
Max: 360
Weighted Average: 149
- -------------------------------------------------------------------
REMAINING TERMS TO STATED MATURITIES (MOS)
- -------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- ------------- -----------
61-84 6 40,390,577 3.47
85-120 150 767,081,359 65.93
121-180 31 149,511,816 12.85
181-240 32 156,055,767 13.41
241-300 15 40,731,237 3.50
301-360 4 9,747,495 0.84
----- ------------- ----------
Total: 238 1,163,518,250 100.00
===== ============= ==========
Min: 80
Max: 355
Weighted Average: 142
- -------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-15
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
POOL CHARACTERISTICS
CUT-OFF DATE BALANCES
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
1-1,000,000 7 6,238,513 0.54
1,000,001-2,000,000 51 80,243,405 6.90
2,000,001-3,000,000 62 158,371,504 13.61
3,000,001-4,000,000 34 121,893,707 10.48
4,000,001-5,000,000 18 81,122,252 6.97
5,000,001-6,000,000 14 78,715,384 6.77
6,000,001-7,000,000 8 53,401,419 4.59
7,000,001-8,000,000 7 52,196,818 4.49
8,000,001-9,000,000 9 77,751,804 6.68
9,000,001-10,000,000 2 19,816,346 1.70
10,000,001-15,000,000 13 153,247,267 13.17
15,000,001-20,000,000 8 138,888,276 11.94
20,000,001-25,000,000 3 70,302,004 6.04
25,000,001 >= 2 71,329,551 6.13
----- -------------- ------------
Total: 238 1,163,518,250 100.00
===== ============== ============
Min: 763,847
Max: 46,000,000
Average: 4,888,732
- --------------------------------------------------------------------------------
STATES
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
Florida 27 147,156,346 12.65
California 20 117,751,729 10.12
Georgia 15 114,526,350 9.84
Texas 22 90,781,324 7.80
New York 10 86,852,428 7.46
Other 144 606,450,073 52.13
----- -------------- -------------
Total: 238 1,163,518,250 100.00
===== ============== =============
- --------------------------------------------------------------------------------
PROPERTY TYPES
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
Multifamily 103 487,631,769 41.91
Retail 48 255,857,727 21.99
Hospitality 25 119,830,936 10.30
Office 12 116,125,557 9.98
Healthcare 10 45,578,385 3.92
Industrial 3 10,991,335 0.94
Mixed Use 2 7,650,799 0.66
Self Storage 2 3,796,319 0.33
Mobile Home Park 1 994,603 0.09
CTL 32 115,060,821 9.89
----- -------------- -------------
Total: 238 1,163,518,250 100.00
===== ============== =============
- -------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-16
<PAGE>
[FIRST UNION LOGO] [MORGAN STANLEY LOGO]
FUNB SERIES 1999-C1
POOL CHARACTERISTICS
ORIGINAL AMORTIZATION TERMS (MOS)
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
121-180 5 14,533,390 1.25
181-240 25 125,776,865 10.81
241-360 208 1,023,207,995 87.94
----- -------------- -------------
Total: 238 1,163,518,250 100.00
===== ============== =============
Min: 174
Max: 358
Weighted Average: 321
- -------------------------------------------------------------------
DEBT SERVICE COVERAGE RATIOS (X) (EXCLUDING CTLS)
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
1.15-1.24 25 145,060,032 13.84
1.25-1.34 84 460,166,678 43.89
1.35-1.49 68 308,143,629 29.39
1.50-1.74 23 118,093,124 29.39
1.75-1.99 3 11,602,601 11.26
2.00>= 3 5,391,366 0.51
----- -------------- -------------
Total: 206 1,048,457,430 100.00
===== ============== =============
Min: 1.15
Max: 2.13
Weighted Average: 1.36
- --------------------------------------------------------------------------------
CUT-OFF DATE LOAN-TO-VALUE RATIOS (%) (EXCLUDING CTLS)
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
30.1-40.00 1 2,459,759 0.23
40.1-50.00 3 14,259,503 1.36
50.1-60.00 11 42,536,026 4.06
60.1-70.00 38 201,499,195 19.22
70.1-80.00 145 753,499,092 71.86
80.1-90.00 8 34,273,855 3.27
----- -------------- -------------
Total: 206 1,048,457,430 100.0
===== ============== =============
Min: 36.7
Max: 84.9
Weighted Average: 72.7
- --------------------------------------------------------------------------------
BALLOON LOAN-TO-VALUE RATIOS (%) (EXCLUDING CTLS)
- --------------------------------------------------------------------------------
NUMBER OF AGGREGATE % BY AGGREGATE
MORTGAGE CUT-OFF DATE CUT-OFF DATE
LOANS BALANCE BALANCE (%)
----- -------------- -------------
20.1-30.0 11 41,507,514 3.99
30.1-40.0 17 78,094,778 7.51
40.1-50.0 12 43,805,503 4.21
50.1-60.0 56 250,765,125 24.13
60.1-70.0 94 507,816,040 48.86
70.1-80.0 17 117,443,285 11.30
----- -------------- -------------
Total: 207 1,039,432,246 100.00
===== ============== =============
Min: 23.3
Max: 76.1
Weighted Average: 59.2
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy securities are made only by, and this information
must be read in conjunction with, the final prospectus supplement and the
related prospectus or, if not registered under the securities law, the final
offering memorandum (the "Offering Document"), and any such decision to invest
in such securities should be made solely in reliance upon such Offering
Document. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions, and should be considered by
investors only in the light of the same warnings, lack of assurances and
representations and other precautionary matters, as disclosed in the Offering
Document. Information regarding the underlying assets has been provided by the
issuer of the securities or an affiliate thereof and has not been independently
verified by the underwriters or their respective affiliates. This information
was prepared on the basis of certain assumptions (including in certain case
assumptions specified by the recipient hereof) regarding payments, interest
rates, weighted average lives and weighted average loan age, loss and other
matters including but not limited to, the assumptions described in the Offering
Document, the underwriters, and any of their respective affiliates make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supercedes any prior versions hereof, will be deemed to be
superseded by any subsequent versions (including with respect to any description
of the securities or the underlying assets, the information contained in the
Offering Document), and will deemed superseded, amended and supplemented in
their entirety by such final Offering Document.
B-17
UNDERWRITERS' STATEMENT
COMPUTATIONAL MATERIALS
FIRST UNION COMMERCIAL MORTGAGE TRUST-
COMMERCIAL MORTGAGE PASS THROUGH CERTIFICATES
FUNB SERIES 1999-C1
The attached tables and statistical analysis (the "Computational
Materials") are privileged and confidential and are intended for use by the
addressee only. These Computational Materials are furnished to you solely by
First Union Capital Markets and Morgan Stanley & Co. Incorporated (the
"Underwriters") and not by the issuer of the certificates identified above (the
"Offered Certificates") or any other party. The issuer of the Offered
Certificates has not prepared or taken part in the preparation of these
materials. None of the Underwriters, the issuer of the Offered Certificates, or
any other party makes any representation as to the accuracy or completeness of
the information herein. The information herein is preliminary, and will be
superseded by the applicable prospectus supplement and by any other information
subsequently filed with the Securities and Exchange Commission. The information
herein may not be provided to any third party other than the addressee's legal,
tax, financial and/or accounting advisors for the purposes of evaluating such
information.
Numerous assumptions were used in preparing the Computational Materials
which may or may not be stated herein. As such, no assurance can be given as to
the accuracy, appropriateness or completeness of the Computational Materials in
any particular context; or as to whether the Computational Materials reflect
future performance. These Computational Materials should not be construed as
either a prediction or as legal, tax, financial or accounting advice.
Any yields or weighted average lives shown in the Computational Materials
are based on prepayment and other assumptions and actual experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower or
faster than the rates assumed in the attached Computational Materials.
Furthermore, unless otherwise provided, the Computational Materials assume no
losses on the underlying assets and no interest shortfall. The specific
characteristics of the Offered Certificates may differ from those shown in the
Computational Materials due to difference between the actual underlying assets
and the hypothetical assets used in preparing the Computational Materials. The
principal amount and designation of any security described in the Computational
Materials are subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to
the Offered Certificates has been filed with the Securities and Exchange
Commission and is effective, the final prospectus supplement relating to the
Offered Certificates has not been filed with the Securities and Exchange
Commission. This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the Offered
Certificates in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state. Prospective purchasers are referred to the final prospectus and
prospectus supplement relating to the Offered Certificates for definitive terms
of the Offered Certificates and the collateral.
Please be advised that mortgage-backed and/or asset-backed securities may
not be appropriate for all investors. Potential investors must be willing to
assume, among other things, market price volatility, prepayments, yield curve
and interest rate risks. Investors should fully consider the risk of an
investment in these Offered Certificates.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
<PAGE>
Investors should read the Underwriters' Statement which accompanies these
Computational Materials.
Prospective investors are advised to carefully read, and should rely solely
on, the final prospectus and prospectus supplement (the "Final Prospectus")
relating to the certificates referred to herein (the "Offered Certificates") in
making their investment decision. These Computational Materials have been based
upon the assumptions described above, which most likely will not represent the
actual experience of the Mortgage Pool in the future. No representation is made
herein as to the actual rate or timing of principal payments or prepayments on
any of the underlying Mortgage Loans in the Mortgage Pool or the actual
performance characteristics of the Offered Certificates. No representation is
made as to the appropriateness, usefulness, accuracy or completeness of these
materials or the assumptions on which they are based. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus, which shall be deemed to supersede, amend and supplement these
Computational Materials in their entirety. NOTHING HEREIN SHOULD BE CONSIDERED
AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY OFFERED CERTIFICATES.
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 9822127 One Capital City Plaza 3350 Peachtree Rd. Atlanta
2 9821145 Turnberry Towers 1438 Third Avenue New York
3 9822016 Cabin John Mall and Shopping Center 11325 Seven Locks Road Potomac
4 9822033 Prince George's Metro Center 6525 Belcrest Road Hyattsville
5 9822030 Inland Empire Center 16721 Valley Boulevard Fontana
6 9822087 New Brighton Manor 200 Lafayette Ave. Staten Island
7 9821006 Clarinbridge 770 Towne Green Boulevard Kennesaw
8 9821100 Royal Palm Key Apartments 1401 Village Boulevard West Palm Beach
9 9821005 Saddle Club 3730 South Mill Avenue Tempe
10 9821101 Coral Key Apartments 3300 Pinewalk Drive North Margate
11 9821049 Hamilton (5) 1255 New Hampshire Avenue Washington
12 9821099 Harbour Key Apartments 5749 Gatlin Avenue Orlando
13 9821048 Gardenwood 1110 Garden Walk Boulevard Atlanta
14 9822037 McAllen Embassy Suites 1800 S. 2nd Street McAllen
15 9822146 Panama City Square Shopping Center 513-669 West 23rd Street Panama City
16 9821050 The Meadows at Indian Creek 100 Eagle Drive Emmaus
17 9821051 Pointe North Apartments 4445 Harriet Lane Bethlehem
18 9821067 Park Lee Apartments 1600 West Highland Avenue Phoenix
19 9821146 Dutch Village Apartments 2348 Perring Manor Rd. Baltimore
20 20022 Lincoln Park West 7738-7853 N.W. 44th St Sunrise
21 30013 Lowe's Queensbury NEC of Bay & Quaker Roads Queensbury
22 9822062 9201 Fourth Avenue 9201 4th Avenue Brooklyn
23 9823102 Lowes Hattiesburg Weathersby US Highway 98 and Weathersby Rd Hattiesburg
24 9822075 Valley East Plaza 1520-1550 West Southern Ave. Mesa
25 20042 Towamencin Shopping Village 1758 Allentown Rd. Lansdale
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 GA 30326 $46,000,000 $ 46,000,000 3.95% 3.95%
2 NY 10028 25,401,000 25,329,551 2.18 6.13
3 MD 20854 25,000,000 24,569,115 2.11 8.24
4 MD 20782 24,500,000 24,344,128 2.09 10.33
5 CA 92335 21,525,000 21,388,760 1.84 12.17
6 NY 10301 20,000,000 19,832,765 1.70 13.88
7 GA 30144 19,500,000 19,500,000 1.68 15.55
8 FL 33409 18,200,000 18,147,092 1.56 17.11
9 AZ 85282 16,875,000 16,766,251 1.44 18.55
10 FL 33063 16,800,000 16,751,161 1.44 19.99
11 DC 20036 16,400,000 16,312,883 1.40 21.40
12 FL 32822 16,125,000 16,078,124 1.38 22.78
13 GA 30349 15,500,000 15,500,000 1.33 24.11
14 TX 78503 14,800,000 14,672,124 1.26 25.37
15 FL 32405 13,360,000 13,321,162 1.14 26.52
16 PA 18049 13,200,000 13,131,648 1.13 27.64
17 PA 18017 12,800,000 12,733,720 1.09 28.74
18 AZ 85015 12,240,000 12,187,202 1.05 29.79
19 MD 21234 11,907,000 11,907,000 1.02 30.81
20 FL 33351 11,775,000 11,733,083 1.01 31.82
21 NY 12801 11,680,064 11,617,883 1.00 32.82
22 NY 11209 10,900,000 10,814,895 0.93 33.75
23 MS 39402 10,915,427 10,684,278 0.92 34.66
24 AZ 85202 10,300,000 10,255,285 0.88 35.55
25 PA 19446 10,200,000 10,162,601 0.87 36.42
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 6.750% 0.042% Actual/360 Interest-Only, then Amortizing Balloon 12 7
2 6.875 0.042 Actual/360 Amortizing Balloon NA NA
3 6.680 0.042 Actual/360 Fully Amortizing (1) NA NA
4 7.000 0.042 Actual/360 Amortizing Balloon NA NA
5 7.020 0.042 Actual/360 Amortizing Balloon NA NA
6 7.630 0.042 Actual/360 Fully Amortizing (1) NA NA
7 6.980 0.042 30/360 Interest-Only, then Amortizing Balloon 60 52
8 6.750 0.042 Actual/360 Amortizing Balloon NA NA
9 6.950 0.042 Actual/360 Amortizing Balloon NA NA
10 6.750 0.042 Actual/360 Amortizing Balloon NA NA
11 6.650 0.042 Actual/360 Amortizing Balloon NA NA
12 6.750 0.042 Actual/360 Amortizing Balloon NA NA
13 6.875 0.042 Actual/360 (2) Interest-Only, then Amortizing Balloon 12 5
14 7.270 0.042 Actual/360 Amortizing Balloon NA NA
15 6.750 0.042 Actual/360 Amortizing Balloon NA NA
16 6.750 0.042 Actual/360 Amortizing Balloon NA NA
17 6.750 0.042 Actual/360 Amortizing Balloon NA NA
18 6.900 0.042 Actual/360 Amortizing Balloon NA NA
19 6.770 0.042 Actual/360 Interest-Only, then Amortizing Balloon 36 32
20 7.000 0.042 Actual/360 Amortizing Balloon NA NA
21 7.125 0.042 30/360 Amortizing Balloon NA NA
22 7.000 0.042 Actual/360 Amortizing Balloon NA NA
23 8.125 0.042 30/360 Fully Amortizing NA NA
24 6.875 0.042 Actual/360 Amortizing Balloon NA NA
25 6.500 0.042 Actual/360 Amortizing Balloon NA NA
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 120 115 360 358 08/20/98 09/01/08 $40,675,140
2 120 116 360 356 09/04/98 10/01/08 22,081,825
3 240 231 240 231 04/24/98 05/01/18 749,716
4 180 171 360 351 04/06/98 05/01/13 18,754,361
5 120 111 360 351 05/01/98 05/01/08 18,788,662
6 240 235 240 235 08/06/98 09/01/18 774,884
7 180 172 360 358 05/07/98 06/01/13 16,725,534
8 120 116 360 356 09/15/98 10/01/08 15,768,365
9 120 111 360 351 04/24/98 05/01/08 14,702,361
10 120 116 360 356 09/15/98 10/01/08 14,555,414
11 120 113 360 353 06/17/98 07/01/08 14,172,245
12 120 116 360 356 09/15/98 10/01/08 13,970,598
13 120 113 360 358 06/16/98 07/01/08 13,749,747
14 120 112 300 292 05/22/98 06/01/08 11,940,513
15 84 80 360 356 09/24/98 10/01/05 12,243,148
16 120 113 360 353 06/19/98 07/01/08 11,438,257
17 120 113 360 353 06/19/98 07/01/08 11,091,642
18 120 114 360 354 07/16/98 08/01/08 10,648,050
19 132 128 360 358 09/25/98 10/01/09 10,729,857
20 120 115 360 355 08/03/98 09/01/08 10,269,411
21 238 234 288 284 09/25/98 08/01/18 3,657,407
22 120 113 300 293 06/29/98 07/01/08 8,722,147
23 238 226 238 226 02/01/98 12/01/17 -
24 120 114 360 354 07/24/98 08/01/08 8,954,356
25 120 117 300 297 10/01/98 11/01/08 8,030,363
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 Office L(3),D(6.67),O(.33) $ 3,580,261 $ 4,529,727
2 Multifamily - Conventional L(4),D(5.75),O(.25) 2,002,398 2,402,844
3 Retail - Anchored L(4),YM1%(15.75),O(.25) 2,268,624 3,105,763
4 Office L(4),D,(10),O(1) 1,955,989 2,551,387
5 Retail - Anchored L(5),5%(1),4%(1),3%(1),2%(1),1%(.75),O(.25) 1,721,947 2,178,128
6 Healthcare - Skilled Nursing L(5),YM1%(14.75),O(.25) 1,952,546 3,217,729
7 Multifamily - Conventional L(5),D(9),O(1) 1,553,666 1,937,548
8 Multifamily - Conventional L(4),D(5.75),O(.25) 1,416,538 1,841,860
9 Multifamily - Conventional L(2.58),D(6.66),O(.75) 1,340,445 1,633,816
10 Multifamily - Conventional L(4),D(5.75),O(.25) 1,307,574 1,620,585
11 Multifamily - Conventional L(4),D(5.75),O(.25) 1,263,387 1,539,010
12 Multifamily - Conventional L(4),D(5.75),O(.25) 1,255,037 1,721,816
13 Multifamily - Conventional L(3),D(6.75),O(.25) 1,221,888 1,482,042
14 Hospitality - Full Service L(5),5%(1),4%(1),3%(1),2%(1),1%(.75),0(.25) 1,285,994 2,061,354
15 Retail - Anchored L(3),D(3.5),O(.5) 1,039,833 1,433,098
16 Multifamily - Conventional L(3),D(6.75),O(.25) 1,027,379 1,377,127
17 Multifamily - Conventional L(3),D(6.75),O(.25) 996,247 1,297,236
18 Multifamily - Conventional L(3),D(6.75),O(.25) 967,352 1,182,053
19 Multifamily - Conventional L(4),D(6.75),O(.25) 928,643 1,255,434
20 Retail - Unanchored L(2),YM1%(7.75),O(.25) 940,072 1,230,571
21 CTL - Retail L(8),D(11.8) 1,017,095 1,020,960
22 Office L(3),D(7) 924,467 1,205,723
23 CTL - Retail L(8),YM1%(11.58),0(.25) 1,109,546 1,131,737
24 Retail - Anchored L(3),D(6.75), O(.25) 811,964 1,032,830
25 Retail - Anchored L(4) YM1%(5.75),O(0.25) 826,454 1,149,010
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 1.27x $ 62,400,000 08/01/98 73.7% 65.2% 1989
2 1.20 32,000,000 08/28/98 79.2 69.0 1985
3 1.37 40,500,000 02/16/98 60.7 1.9 1970;1978;1986
4 1.30 34,000,000 01/13/98 71.6 55.2 1970 1989
5 1.26 28,700,000 04/01/98 74.5 65.5 1991 1994
6 1.65 31,700,000 04/13/98 62.6 2.4 1973
7 1.25 26,900,000 04/23/98 72.5 62.2 1997
8 1.30 23,000,000 07/10/98 78.9 68.6 1990
9 1.22 22,500,000 04/08/98 74.5 65.3 1973 1995
10 1.24 21,000,000 07/29/98 79.8 69.3 1989
11 1.28 19,525,000 04/15/98 79.6 72.6 1965 1998
12 1.37 22,000,000 07/29/98 73.1 63.5 1990
13 1.21 19,400,000 06/01/98 79.9 70.9 1989
14 1.60 22,500,000 04/02/98 65.2 53.1 99.83 1985 1994
15 1.38 16,700,000 06/23/98 79.8 73.3 1987 1993
16 1.34 16,500,000 04/10/98 79.6 69.3 1992
17 1.30 16,000,000 04/10/98 79.6 69.3 1995
18 1.22 15,300,000 07/02/98 79.7 69.6 1955 1966
19 1.35 14,700,000 08/05/98 81.0 73.0 1962
20 1.31 15,700,000 05/12/98 74.7 65.4 1978
21 1.00 11,800,000 08/27/98 98.5 31.0 1998
22 1.30 16,100,000 03/03/98 67.2 54.2 1990
23 1.02 12,250,000 01/21/98 87.2 0.0 1998
24 1.27 12,500,000 05/19/98 82.0 71.6 1977 1997
25 1.39 15,100,000 08/24/98 67.3 53.2 1990
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 406,210 Sq. Ft. 113.24 93.4% 08/18/98 0.14 Sq. Ft.
2 147 Units 172,309.87 97.0 08/10/98 250.00 Unit
3 213,550 Sq. Ft. 115.05 96.8 08/17/98 0.40 Sq. Ft.
4 374,061 Sq. Ft. 65.08 88.5 08/20/98 0.24 Sq. Ft.
5 283,591 Sq. Ft. 75.42 92.9 09/01/98 0.11 Sq. Ft.
6 300 Beds 66,109.22 100.0 06/30/98 500.00 Bed
7 306 Units 63,725.49 80.0 08/17/98 250.00 Unit
8 400 Units 45,367.73 95.0 08/31/98 250.00 Unit
9 515 Units 32,555.83 93.0 04/18/98 264.00 Unit
10 364 Units 46,019.67 91.0 08/31/98 250.00 Unit
11 304 Units 53,660.80 99.0 05/13/98 278.00 Unit
12 460 Units 34,952.44 95.5 08/31/98 250.00 Unit
13 370 Units 41,891.89 93.7 03/25/98 250.00 Unit
14 224 Rooms 65,500.55 68.8 NA 4.40 % of Gross Revenue Room
15 283,660 Sq. Ft. 46.96 98.1 09/11/98 0.10 Sq. Ft.
16 232 Units 56,601.93 97.0 06/09/98 250.00 Unit
17 200 Units 63,668.60 100.0 06/09/98 250.00 Unit
18 523 Units 23,302.49 92.0 05/31/98 250.00 Unit
19 544 Units 21,887.87 91.1 08/20/98 268.00 Unit
20 147,990 Sq. Ft. 79.28 97.6 05/01/98 0.10 Sq. Ft.
21 120,931 Sq. Ft. 96.07 100.0 09/22/98 0.22 Sq. Ft.
22 70,859 Sq. Ft. 152.63 100.0 05/26/98 0.20 Sq. Ft.
23 130,316 Sq. Ft. 81.99 100.0 02/01/98 0.17 Sq. Ft.
24 132,350 Sq. Ft. 77.49 100.0 03/01/98 0.10 Sq. Ft.
25 119,999 Sq. Ft. 84.69 100.0 09/03/98 0.11 Sq. Ft.
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1 Blue Cross/Blue Shield 265,446 06/01/04 Jefferson Pilot 16,336
2
3 Giant Foods 33,373 12/01/07 The Emmes Corporation 22,558
4 HHS 11B-90186 146,931 04/01/00 GSA 11B-30067 43,450
5 Vons - Store #55 (Safeway Credit) 49,000 09/30/11 Toys "R" Us (Ground Lease) 45,183
6
7
8
9
10
11
12
13
14
15 Wal-Mart 106,977 04/24/07 Delchamps(Subleased To TJ Maxx & Campo) 47,057
16
17
18
19
20 Doris Meat Market 6,945 12/31/02 Family Bakeries 5,344
21 Lowe's Home Centers, Inc 120,931 09/21/18
22 Metropolitan Life Insurance Co. 10,780 03/31/02 New York Life Insurance Co. 10,507
23 Lowe's Home Centers, Inc 130,316 12/31/17
24 Bed, Bath & Beyond 60,000 01/31/08 Circuit City 48,950
25 Genaurdi's Family Markets 40,750 10/31/10 Sears Hardware 21,467
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
2nd 3rd 3rd
Largest Largest Largest
Tenant Tenant Tenant
Lease Area Lease
Expiration Leased Expiration
Order Date 3rd Largest Tenant Name (Sq. Ft.) Date
- -----------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C>
1 09/01/04 Guardian/Murdock (sublease to Goodman Segar) 14,667 07/01/99
2
3 04/30/04 CVS Pharmacy 15,144 06/01/08
4 12/30/02 Kaiser Health Plan 38,879 10/30/02
5 01/31/16 Edwards Theatres 35,000 08/31/11
6
7
8
9
10
11
12
13
14
15 06/01/07 Goody's Family Clothing 34,006 05/31/04
16
17
18
19
20 08/31/06 Bowery Lighting 5,000 10/31/99
21
22 01/01/00 Patient Care 8,432 03/01/04
23
24 02/01/06 Toys R Us 23,400 03/01/15
25 11/02/04 Eckerd 7,600 10/31/05
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
26 9822049 Holiday Inn - Bethlehem 3566 Bath Pike Bethlehem
27 9822014 Westlake Village Inn 31943 Agoura Road Westlake Village
28 9822128 Leesburg Plaza Shopping Center 26 Plaza Street Leesburg
29 9822191 Grass Valley Shopping Center 111-151 McKnight Way Grass Valley
30 9821122 Butler Ridge/Butler Arms Roll-Up 1607 Route 23/115-129 Booton Ave. Butler
30 9821122 Butler Arms 115-129 Booton Avenue Butler
30 9821122 Butler Ridge 1607 Route 23 Butler
31 9822152 Natchez Mall 350 John R. Junkin Drive Natchez
32 9822032 Gateway Shopping Center 855 Interstate10 South Beaumont
33 9822149 Dyersburg Mall 2700 Lake Road Dyersburg
34 9823035 Edwards Supermarket - Teaneck 665 American Legion Drive Teaneck
35 9821057 Kelton Towers 515 Kelton Avenue Westwood
36 9821103 Rochester Apartments 10933 Rochester Avenue Los Angeles
37 9821034 Moorings Apartments 571 Plum Grove Road Roselle
38 9822090 8578 Santa Monica Blvd 8578 Santa Monica Blvd. West Hollywood
39 9821144 321 East 22nd Street 321 East 22nd Street New York
40 9821063 Sugarloaf Estates 28 River Road Sunderland
41 9822188 Holiday Inn Rocky Mount 651 Winstead Avenue Rocky Mount
42 9822083 Hampton Inn-Airport 4234 South 48th St. Phoenix
43 9821105 The Carlton Apartment Building 11666 Goshen Ave. Los Angeles
44 9822050 Bethlehem Hampton Inn & Suite Routes 22 and 512 Bethlehem
45 9821000 Arrowhead Apartments 1912 Cambridge Drive Palantine
46 9822065 Centre at Woodstock 12195 Hwy 92/East Alabama Rd. Woodstock
47 9821004 Lexington Downs 6003 Old Bullard Road Tyler
48 9822035 The Money Store 2840 Morris Avenue Union
49 9822042 Meadows Mall 12002 Southwest Freeway Meadows
50 9823098 Bunzl Hicksville Duffy 300 Duffy Avenue Hicksville
51 9821154 Westgrove Apartments 1815-2137 Kensington Drive Waukesha
52 9822080 Hampton Inn Miami Airport West 3620 NW 79th Ave Miami
53 9821097 Forest Towers 3500 and 3550 Washington Hollywood
54 9822043 Woodmont Corner 7649 Old Georgetown Rd. Bethesda
55 9822068 The Millenium Building 230 Half Mile Road Middletown
56 9822147 Stratford Square Shopping Center 1661 Eastern Boulevard Montgomery
57 9821143 Turtle Creek Apts. 358 Toftrees Ave State College
58 9822085 Briarwood Healthcare Center 1440 Vine Street & 1427 Gaylord Street Denver
59 9823042 Motel 6 1118 Austin AP 5330 N. Interregional Highway Austin
60 9822061 Gateway Plaza 11465 Carmel Mountain Rd. San Diego
61 9821031 The Pines at Carolina Place Apartments 12600 Windy Pines Way Pineville
62 9822039 Redwood Heights 4050 12 St. S.E. Salem
63 9821124 Briarwood 1355 Briarwood Road Atlanta
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
26 PA 18107 Gateway 10,100,000 10,026,386 0.86 37.28
27 CA 91361 10,000,000 9,916,346 0.85 38.13
28 VA 20176 9,900,000 9,900,000 0.85 38.98
29 CA 95945 9,000,000 8,971,666 0.77 39.76
30 NJ 07405 9,000,000 8,966,944 0.77 40.53
30 NJ 07405 0.00 0.00
30 NJ 07405 0.00 0.00
31 MS 39120 8,920,000 8,894,069 0.76 41.29
32 TX 77701 8,910,000 8,789,615 0.76 42.05
33 TN 38024 8,660,000 8,634,825 0.74 42.79
34 NJ 07666 8,550,000 8,505,273 0.73 43.52
35 CA 90024 8,500,000 8,456,536 0.73 44.25
36 CA 90024 8,280,000 8,280,001 0.71 44.96
37 IL 60172 8,300,000 8,252,876 0.71 45.67
38 CA 90069 8,000,000 7,963,321 0.68 46.35
39 NY 10010 7,680,000 7,658,397 0.66 47.01
40 MA 01375 7,636,000 7,603,982 0.65 47.66
41 NC 27804 7,500,000 7,451,905 0.64 48.30
42 AZ 85040 7,437,500 7,390,961 0.64 48.94
43 CA 90049 7,080,000 7,080,000 0.61 49.55
44 PA 18107 Gateway 7,100,000 7,048,252 0.61 50.15
45 IL 60074 7,000,000 6,960,257 0.60 50.75
46 GA 30188 7,000,000 6,910,044 0.59 51.34
47 TX 75703 6,960,000 6,916,061 0.59 51.94
48 NJ 07083 6,900,000 6,796,538 0.58 52.52
49 TX 77477 6,800,000 6,763,797 0.58 53.10
50 NY 11801 6,555,000 6,467,953 0.56 53.66
51 WI 53188 6,350,000 6,326,677 0.54 54.20
52 FL 33166 6,300,000 6,260,091 0.54 54.74
53 FL 33021 6,000,000 5,977,272 0.51 55.26
54 MD 20814 6,000,000 5,971,804 0.51 55.77
55 NJ 07701 6,000,000 5,959,077 0.51 56.28
56 AL 36117 5,928,000 5,910,767 0.51 56.79
57 PA 16803 5,900,000 5,882,848 0.51 57.29
58 CO 80206 5,900,000 5,866,926 0.50 57.80
59 TX 78751 6,125,301 5,866,628 0.50 58.30
60 CA 92128 5,700,000 5,672,125 0.49 58.79
61 NC 28288 5,700,000 5,664,894 0.49 59.28
62 OR 97302 5,550,000 5,507,710 0.47 59.75
63 GA 30319 5,250,000 5,236,195 0.45 60.20
- ----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
26 7.350 0.042 Actual/360 Amortizing Balloon NA NA
27 7.438 0.042 Actual/360 Amortizing Balloon NA NA
28 6.510 0.042 Actual/360 Interest-Only, then Amortizing Balloon 84 80
29 6.440 0.042 Actual/360 Amortizing Balloon NA NA
30 6.875 0.042 Actual/360 Amortizing Balloon NA NA
30 0.000 0.000
30 0.000 0.000
31 6.750 0.042 Actual/360 Amortizing Balloon NA NA
32 8.610 0.042 Actual/360 Amortizing Balloon NA NA
33 6.750 0.042 Actual/360 Amortizing Balloon NA NA
34 7.021 0.042 30/360 Amortizing Balloon NA NA
35 6.875 0.042 30/360 Amortizing Balloon NA NA
36 6.950 0.042 30/360 Interest-Only, then Amortizing Balloon 36 32
37 7.020 0.042 Actual/360 Amortizing Balloon NA NA
38 6.900 0.042 Actual/360 Amortizing Balloon NA NA
39 6.875 0.042 Actual/360 Amortizing Balloon NA NA
40 7.010 0.042 Actual/360 Amortizing Balloon NA NA
41 7.250 0.042 Actual/360 Amortizing Balloon NA NA
42 7.375 0.042 Actual/360 Amortizing Balloon NA NA
43 6.950 0.042 30/360 Interest-Only, then Amortizing Balloon 36 32
44 7.350 0.042 Actual/360 Amortizing Balloon NA NA
45 7.020 0.042 Actual/360 Amortizing Balloon NA NA
46 6.910 0.042 Actual/360 Amortizing Balloon NA NA
47 7.030 0.042 Actual/360 Amortizing Balloon NA NA
48 6.850 0.042 Actual/360 Fully Amortizing (1) NA NA
49 7.270 0.042 Actual/360 Amortizing Balloon NA NA
50 7.000 0.042 30/360 Amortizing Balloon NA NA
51 6.875 0.042 Actual/360 Amortizing Balloon NA NA
52 7.313 0.042 Actual/360 Amortizing Balloon NA NA
53 6.750 0.042 Actual/360 Amortizing Balloon NA NA
54 7.120 0.042 Actual/360 Amortizing Balloon NA NA
55 6.930 0.042 Actual/360 Amortizing Balloon NA NA
56 6.750 0.042 Actual/360 Amortizing Balloon NA NA
57 6.750 0.042 Actual/360 Amortizing Balloon NA NA
58 7.050 0.042 Actual/360 Amortizing Balloon NA NA
59 7.235 0.177 30/360 Amortizing Balloon NA NA
60 6.970 0.042 Actual/360 Amortizing Balloon NA NA
61 7.125 0.042 Actual/360 Amortizing Balloon NA NA
62 7.125 0.042 Actual/360 Amortizing Balloon NA NA
63 7.125 0.042 Actual/360 Amortizing Balloon NA NA
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
26 120 113 300 293 06/19/98 07/01/08 8,169,656
27 120 112 300 292 05/08/98 06/01/08 8,109,043
28 120 116 336 334 09/16/98 10/01/08 9,518,166
29 120 116 360 356 09/15/98 10/01/08 7,730,903
30 120 115 360 355 08/28/98 09/01/08 7,823,106
30
30
31 84 80 360 356 09/24/98 10/01/05 8,174,318
32 120 100 330 310 05/05/97 06/01/07 7,815,335
33 84 80 360 356 09/24/98 10/01/05 7,936,052
34 239 231 286 278 05/14/98 05/01/18 2,895,819
35 300 294 360 354 07/06/98 08/01/23 2,828,395
36 120 116 360 358 09/18/98 10/01/08 7,541,120
37 120 112 360 352 05/14/98 06/01/08 7,243,830
38 120 115 330 325 08/14/98 09/01/08 6,702,653
39 120 116 360 356 09/14/98 10/01/08 6,676,447
40 120 114 360 354 07/10/98 08/01/08 6,662,364
41 120 114 300 294 07/02/98 08/01/08 6,047,019
42 120 114 300 294 07/15/98 08/01/08 6,019,494
43 120 116 360 358 09/18/98 10/01/08 6,448,203
44 120 113 300 293 06/19/98 07/01/08 5,743,026
45 120 112 360 352 05/14/98 06/01/08 6,109,254
46 180 173 240 233 06/30/98 07/01/13 2,879,220
47 120 111 360 351 05/01/98 05/01/08 6,076,829
48 240 232 240 232 05/22/98 06/01/18 215,222
49 120 112 360 352 05/27/98 06/01/08 5,973,617
50 178 172 224 218 07/23/98 06/01/13 2,103,921
51 120 115 360 355 08/04/98 09/01/08 5,519,635
52 180 174 300 294 07/17/98 08/01/13 4,051,986
53 180 175 360 355 08/28/98 09/01/13 4,537,424
54 119 112 360 353 06/02/98 06/01/08 5,260,133
55 120 114 300 294 07/02/98 08/01/08 4,789,880
56 84 80 360 356 09/24/98 10/01/05 5,432,438
57 120 116 360 356 09/30/98 10/01/08 5,111,722
58 120 115 300 295 08/07/98 09/01/08 4,726,936
59 216 208 265 257 05/29/98 06/01/16 1,938,020
60 120 113 360 353 06/30/98 07/01/08 4,968,640
61 180 171 360 351 04/29/98 05/01/13 4,388,132
62 120 113 300 293 06/04/98 07/01/08 4,458,391
63 120 116 360 356 09/28/98 10/01/08 4,594,346
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
26 Hospitality - Full Service L(2.42),D(7.33),O(.25) 883,866 1,287,020
27 Hospitality - Full Service L(3),D(7) 881,917 1,449,146
28 Retail - Anchored L(2),D(7.75),O(.25) 769,422 1,271,417
29 Retail - Anchored L(4),D(5.75),O(.25) 678,378 909,551
30 Multifamily - Conventional L(3),D(6.75),O(.25) 709,483 900,096
30 Multifamily - Conventional 121,700
30 Multifamily - Conventional 778,395
31 Retail - Anchored L(3),D(3.5),O(.5) 694,259 948,025
32 Retail - Anchored L(4),YM1%(5.75),O(.25) 847,200 1,109,408
33 Retail - Anchored L(3),D(3.5),O(.5) 674,023 914,885
34 CTL - Retail L(6),D(13.91) Steps 749,278
35 Multifamily - Conventional L(3),D(22) 670,067 960,723
36 Multifamily - Conventional L(4),D(5.75),O(.25) 657,711 795,630
37 Multifamily - Conventional L(3),D(6.5)O(.5) 663,980 827,317
38 Retail - Unanchored L(3),D(6.50),O(.50) 649,993 967,593
39 Multifamily - Conventional L(4),D(5.75),O(.25) 605,426 819,824
40 Multifamily - Conventional L(2.33),D(6.92),O(.75) 610,245 934,298
41 Hospitality - Full Service L(4),D(6) 650,526 909,713
42 Hospitality - Limited Service L(4),D(5.75),O(.25) 652,310 916,545
43 Multifamily - Conventional L(4),D(5.75),O(.25) 562,391 677,300
44 Hospitality - Full Service L(2.42),D(7.33),O(.25) 621,331 868,512
45 Multifamily - Conventional L(3),D(6.5)O(.5) 559,983 749,947
46 Retail - Anchored L(2.42),D(12.33),O(.25) 646,721 838,476
47 Multifamily - Conventional L(2.58),D(6.67),O(.75) 557,344 740,891
48 Office L(5),YM1%(14.5),O(.5) 634,514 822,306
49 Retail - Anchored L(3.5),D(6.5) 557,763 696,382
50 CTL - Industrial YM1%(2),D(12.83) 630,423 681,523
51 Multifamily - Conventional L(4),D(5.50),O(.50) 500,580 667,722
52 Hospitality - Limited Service L(4),D(10.75),O(.25) 549,490 905,699
53 Multifamily - Conventional L(4),D(10.75),O(.25) 466,991 589,821
54 Retail - Unanchored L(4),D(5.92) 484,834 641,909
55 Office L(5),D(5) 505,670 632,399
56 Retail - Anchored L(3),D(3.5),O(.5) 461,387 642,635
57 Multifamily - Conventional L(4),D(5.75),O(.25) 459,207 627,817
58 Healthcare - Skilled Nursing L(3),D(6.75),O(.25) 502,660 920,017
59 CTL - Hospitality L(2)YM2.5%(16) Steps 482,718
60 Retail - Anchored L(3),D(6.75) O(.25) 453,690 593,273
61 Multifamily - Sec. 42 L(3),D(11.75) O(.25) 460,824 663,505
62 Healthcare - Assisted Living L(4),D(5.75),O(.25) 476,039 692,711
63 Multifamily - Conventional L(4),D(5.75),O(.25) 424,443 532,781
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
26 1.46 14,000,000 04/29/98 71.6 58.4 80.50 1964 1995
27 1.64 22,250,000 04/10/98 44.6 36.5 105.00 1968 1996
28 1.65 18,000,000 08/25/98 55.0 52.9 1967
29 1.34 13,850,000 07/27/98 64.8 55.8 1981 1992
30 1.27 11,350,000 04/16/98 79.0 68.9 1972
30 1,600,000 04/16/98 0.0 0.0 1972
30 9,750,000 04/16/98 0.0 0.0 1972
31 1.37 12,000,000 06/23/98 74.1 68.1 1979 1993
32 1.31 13,000,000 02/10/97 67.6 60.1 1957 1996
33 1.36 10,825,000 06/18/98 79.8 73.3 1985 1993
34 1.13 8,550,000 02/01/98 99.5 33.9 1998
35 1.43 12,150,000 11/18/97 69.6 23.3 1974
36 1.21 10,700,000 06/17/98 77.4 70.5 1985
37 1.25 10,400,000 04/22/98 79.4 69.7 1977 1993
38 1.49 12,250,000 05/20/98 65.0 54.7 1948 1980
39 1.35 9,600,000 08/28/98 79.8 69.6 1968
40 1.53 9,545,000 06/10/98 79.7 69.8 1978 1994
41 1.40 10,400,000 03/06/98 71.7 58.1 65.33 1986 1993
42 1.41 10,000,000 06/29/98 73.9 60.2 72.00 1986
43 1.20 9,000,000 06/17/98 78.7 71.7 1974
44 1.40 10,000,000 04/29/98 70.5 57.4 89.26 1996
45 1.34 9,000,000 04/22/98 77.3 67.9 1978 1997
46 1.30 9,600,000 06/08/98 72.0 30.0 1998
47 1.33 8,700,000 04/24/98 79.5 69.9 1975 1993
48 1.30 9,265,000 01/28/98 73.4 2.3 1984
49 1.25 9,200,000 02/09/98 73.5 64.9 1985
50 1.08 7,000,000 09/22/97 92.4 30.1 1998
51 1.33 8,300,000 05/01/98 76.2 66.5 1972
52 1.65 10,100,000 04/27/98 62.0 40.1 78.74 1996
53 1.26 8,000,000 06/23/98 74.7 56.7 1972
54 1.32 9,300,000 04/28/98 64.2 56.6 1940 1988
55 1.25 8,100,000 04/01/98 73.6 59.1 1983
56 1.39 7,600,000 06/16/98 77.8 71.5 1987
57 1.37 7,375,000 08/14/98 79.8 69.3 1973 1996
58 1.83 11,100,000 07/01/98 52.9 42.6 1963; 1967 1989; 1990
59 1.00 6,210,000 03/10/98 94.5 31.2 NA 1983
60 1.31 8,900,000 05/26/98 63.7 55.8 1994
61 1.44 6,800,000 02/03/98 83.3 64.5 1997
62 1.46 7,600,000 04/15/98 72.5 58.7 1997
63 1.26 7,000,000 08/06/98 74.8 65.6 1970
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
26 192 Rooms 52,220.76 68.0 NA 4.00 % of Gross Revenue Room
27 141 Rooms 70,328.69 81.5 NA 4.00 % of Gross Revenue Room
28 244,091 Sq. Ft. 40.56 98.8 08/31/98 0.15 Sq. Ft.
29 151,270 Sq. Ft. 59.31 89.0 08/01/98 0.29 Sq. Ft.
30 218 Units 41,132.77 97.7 08/12/98 274.00 Unit
30 30 Units 0.00 96.7 08/12/98 274.00 Unit
30 188 Units 0.00 97.9 08/12/98 274.00 Unit
31 215,787 Sq. Ft. 41.22 97.8 09/24/98 0.10 Sq. Ft.
32 289,550 Sq. Ft. 30.36 89.8 08/01/98 0.10 Sq. Ft.
33 162,893 Sq. Ft. 53.01 95.4 09/11/98 0.14 Sq. Ft.
34 42,047 Sq. Ft. 202.28 100.0 05/14/98 0.00 Sq. Ft.
35 105 Units 80,538.43 100.0 06/09/98 344.00 Unit
36 80 Units 03,500.01 97.1 07/23/98 250.00 Unit
37 216 Units 38,207.76 98.0 04/15/98 250.00 Unit
38 51,942 Sq. Ft. 153.31 100.0 04/17/98 0.16 Sq. Ft.
39 116 Units 66,020.67 100.0 08/12/98 250.00 Unit
40 232 Units 32,775.78 84.0 06/25/98 250.00 Unit
41 171 Rooms 43,578.39 71.0 NA 4.00 % of Gross Revenue Room
42 134 Rooms 55,156.42 72.0 NA 4.00 % of Gross Revenue Room
43 90 Units 78,666.66 99.0 07/24/98 250.00 Unit
44 110 Rooms 64,075.02 64.5 NA 4.00 % of Gross Revenue Room
45 200 Units 34,801.28 96.3 04/15/98 250.00 Unit
46 86,748 Sq. Ft. 79.66 92.1 04/01/98 0.04 Sq. Ft.
47 316 Units 21,886.27 92.4 04/25/98 259.00 Unit
48 66,660 Sq. Ft. 101.96 93.9 08/31/98 0.28 Sq. Ft.
49 191,747 Sq. Ft. 35.27 100.0 11/11/97 0.35 Sq. Ft.
50 118,320 Sq. Ft. 54.66 100.0 07/01/98 0.15 Sq. Ft.
51 197 Units 32,115.11 97.7 07/18/98 250.00 Unit
52 129 Rooms 48,527.84 77.0 NA 4.00 % of Gross Revenue Room
53 193 Units 30,970.32 98.3 08/21/98 258.00 Unit
54 55,922 Sq. Ft. 106.79 100.0 04/02/98 0.10 Sq. Ft.
55 75,345 Sq. Ft. 79.09 99.3 08/31/98 0.11 Sq. Ft.
56 121,236 Sq. Ft. 48.75 100.0(8 09/11/98 0.10 Sq. Ft.
57 207 Units 28,419.56 100.0 08/01/98 250.00 Unit
58 191 Beds 30,716.89 75.0 05/31/98 250.00 Bed
59 118 Rooms 49,717.19 NA NA NA Room
60 44,230 Sq. Ft. 128.24 100.0 06/30/98 0.16 Sq. Ft.
61 200 Units 28,324.47 99.0 03/05/98 250.00 Unit
62 80 Beds 68,846.37 100.0 05/27/98 225.00 Bed
63 158 Units 33,140.47 92.1 09/23/98 357.00 Unit
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
26
27
28 K-Mart 84,690 11/30/03 Giant 55,330
29 K-Mart 85,482 11/30/06 SPD Market 25,102
30
30
30
31 McRae's 68,009 12/01/04 J. C. Penney 47,940
32 White House 50,000 04/30/03 Weiners 44,750
33 Peebles 38,010 01/01/06 J. C. Penney 33,796
34 Edwards 42,047 06/01/18
35
36
37
38 24 Hour Fitness 41,569 08/31/22 Sporting Club 4,038
39
40
41
42
43
44
45
46 Publix 51,420 04/30/18 Hollywood Video 7,488
47
48 The Money Store 47,151 06/30/07 Dow Jones & Company 9,655
49 Garden Ridge, Inc. 143,323 10/30/07 Loews Theatres 32,100
50 Alliance Paper and Packaging Co., Inc. 118,320 06/30/13
51
52
53
54 Maryland Youth Ballet 7,901 08/31/06 Olsson's Books & Records 6,600
55 Millenium America 26,446 03/31/09 Hartford Life Insurance 12,658
56 Waccamaw Pottery 49,950 02/28/03 Carmike Cinema Eight 24,561
57
58
59 Motel 6 48,032 05/31/16
60 Good Guys 16,648 09/01/09 Party City (subleased by Blockbuster) 13,504
61
62
63
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
2nd 3rd 3rd
Largest Largest Largest
Tenant Tenant Tenant
Lease Area Lease
Expiration Leased Expiration
Order Date 3rd Largest Tenant Name (Sq. Ft.) Date
- -----------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C>
26
27
28 02/28/14 Peebles 24,500 01/31/00
29 01/31/07 Mountains Mikes Pizza 3,300 01/30/02
30
30
30
31 05/31/99 Stage 15,300 03/01/01
32 01/31/01 Beall's 21,500 01/31/02
33 10/01/05 Goody's Family Clothing 19,244 01/01/03
34
35
36
37
38 04/01/03 Capital Drugs 2,684 09/30/01
39
40
41
42
43
44
45
46 05/31/13 Firehouse Restaurant 6,000 07/01/03
47
48 04/30/03 MD Foods USA, Inc. 4,048 12/31/01
49 03/21/15 Showbiz Pizza Time 9,024 09/30/02
50
51
52
53
54 04/30/03 Outback Steakhouse 6,000 03/31/03
55 02/29/00 Russell Stanley 7,575 01/31/00
56 07/31/06 Storkland/Name Dropper 8,450 12/21/98(8)
57
58
59
60 06/30/04 Beverages & More 12,078 12/14/06
61
62
63
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
64 9823026 Rite Aid - Citrus Heights 6422 Tupelo Drive Citrus Heights
65 9822143 Best Western Inn @ Hunt Ridge NWC VA Route 39/Willow Springs Road Intersection Lexington
66 9822074 Southeastern Eye Center Roll Up Various Various
67 9822063 Fresh Warehousing 4300 Church Road Centreville
68 9821030 Sutton Plaza 1230 13th Street, NW Washington
69 9822007 Empire Medical Building 200 Hospital Drive Glen Burnie
70 9822005 Ashwood Place 102 Leonard Wood Drive Frankfort
71 9822120 Best Western Mayfair Hotel 1256 W. Seventh Street Los Angeles
72 9821109 Birchwood Apartments 4829 Coles Manor Place Dallas
73 9822053 La Cresta Shopping Center/Self Storage 3900 Foothill Boulevard La Crescenta
74 9821104 11640 Kiowa Avenue 11640 Kiowa Avenue Los Angeles
75 9823069 Motel 6 1273 Portland One Riverside Street Portland
76 9822027 Valencia Shopping Center 24125 - 24175 Magic Mountain Parkway Santa Clarita
77 9821125 Deville 3330 Atlanta Road Smyrna
78 9821151 Ridgewood Apartments 404 Jones Ferry Road Carrboro
79 9822067 Fairfield Inn - Chester 12400 Redwater Creek Rd. Chester
80 9821037 Silver Hill Apartments 4227 Silver Hill Road Suitland
81 9821046 Kirnwood 2600 Bolton Boone Drive Desoto
82 9823072 Motel 6 352 Rapid City 620 E. Latrobe Street Rapid City
83 9821025 Milton Road 1951 Milton Road Charlotte
84 9822183 Rainbow Express Village Center 130-240 S. Rainbow Blvd. Las Vegas
85 9822034 Fairfield Inn by Marriott-East 7879 Eagle Crest Boulevard Evansville
86 9821126 The Highlands 2525 Ward Street Smyrna
87 9821102 Planters Crossing 1447 Stone Rd. Tallahassee
88 9821111 Hamiltonian Gardens Warrenville Road Middlesex
89 9822123 Bennington Square Shopping Center 3 Kocher Drive Bennington
90 9822187 Days Inn Central 315 West 3300 South Salt Lake City
91 9822124 Boykin Center NW 36th st and NW 79th ST Miami
92 9821003 Hulen Gardens 7415 Tallow Wind Trail Ft. Worth
93 9821009 Duval Manor Associates 6350 Greene Street Philadelphia
94 9821064 The Lenox 6014 Winsome Lane Houston
95 9821028 Silver Blue Lake 1301 - 1601 NW 103rd Street Miami
96 9822029 Layton Crossing Shopping Center 1030, 1052, 1074 and 1160 West Hill Field Road Layton
97 9822133 Comfort Inn - Lexington U.S. 11 South, P.O. Box 905 Lexington
98 9821155 Castilian Lake Park Apartments 11444 137th St. North Largo
99 9823000 CVS Waltham Main 826 Main St. Waltham
100 9822132 Best Western Inn @ Valley View 5050 Valley View Boulevard Roanoke
101 9821041 112, 114, 116,120 Strawberry Hill Road 112-116-120 Strawberry Hill Road Stamford
102 9822051 Gwinnett Place Shoppes 3500 Gwinnett Place Drive Atlanta
103 20037 St. Johns Village 10771 Beach Blvd Jacksonville
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
64 CA 95621 5,168,159 5,120,866 0.44 60.64
65 VA 24450 DOM 5,100,000 5,071,141 0.44 61.08
66 NC Various 5,100,000 5,007,132 0.43 61.51
67 IL 62207 5,025,000 4,964,639 0.43 61.93
68 DC 20005 5,000,000 4,972,363 0.43 62.36
69 MD 21061 5,000,000 4,971,828 0.43 62.79
70 KY 40601 5,000,000 4,947,608 0.43 63.21
71 CA 90017 4,850,000 4,824,446 0.41 63.63
72 TX 75204 4,700,000 4,693,481 0.40 64.03
73 CA 91214 4,700,000 4,670,037 0.40 64.43
74 CA 90049 4,640,000 4,640,000 0.40 64.83
75 ME 04102 4,813,441 4,610,168 0.40 65.23
76 CA 91355 4,500,000 4,457,221 0.38 65.61
77 GA 30080 4,400,000 4,388,430 0.38 65.99
78 NC 27510 4,369,000 4,354,408 0.37 66.36
79 VA 23831 4,275,000 4,230,377 0.36 66.73
80 MD 20746 4,200,000 4,174,970 0.36 67.09
81 TX 75115 4,150,000 4,137,021 0.36 67.44
82 SD 57701 4,221,624 4,043,344 0.35 67.79
83 NC 28215 4,050,000 4,028,099 0.35 68.13
84 NV 89128 4,025,000 4,013,813 0.35 68.48
85 IN 47715 4,050,000 3,995,425 0.34 68.82
86 GA 30080 4,000,000 3,989,482 0.34 69.17
87 FL 32303 4,000,000 3,985,308 0.34 69.51
88 NJ 08846 4,000,000 3,979,230 0.34 69.85
89 VT 05201 4,000,000 3,977,365 0.34 70.19
90 UT 84115 4,000,000 3,978,620 0.34 70.53
91 FL 33166 4,000,000 3,974,036 0.34 70.88
92 TX 76133 3,960,000 3,934,480 0.34 71.21
93 PA 19144 3,900,000 3,878,691 0.33 71.55
94 TX 77057 3,886,000 3,869,706 0.33 71.88
95 FL 33147 3,845,000 3,824,423 0.33 72.21
96 UT 84041 3,825,000 3,804,324 0.33 72.54
97 VA 24450 DOM 3,750,000 3,728,780 0.32 72.86
98 FL 33774 3,700,000 3,681,474 0.32 73.17
99 MA 02451 3,709,485 3,656,124 0.31 73.49
100 VA 24012 DOM 3,638,000 3,617,414 0.31 73.80
101 CT 06902 3,600,000 3,583,666 0.31 74.11
102 GA 30136 Segall 3,600,000 3,572,231 0.31 74.41
103 FL 33612 3,600,000 3,555,477 0.31 74.72
- --------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
64 6.942 0.042 30/360 Amortizing Balloon NA NA
65 7.000 0.042 Actual/360 Amortizing Balloon NA NA
66 7.125 0.042 Actual/360 Fully Amortizing (1) NA NA
67 7.390 0.042 Actual/360 Amortizing Balloon NA NA
68 7.125 0.042 Actual/360 Amortizing Balloon NA NA
69 7.050 0.042 Actual/360 Amortizing Balloon NA NA
70 6.850 0.042 Actual/360 Amortizing Balloon NA NA
71 7.375 0.042 Actual/360 Amortizing Balloon NA NA
72 8.430 0.042 Actual/360 Amortizing Balloon NA NA
73 7.280 0.042 Actual/360 Amortizing Balloon NA NA
74 6.950 0.042 30/360 Interest-Only, then Amortizing Balloon 36 32
75 7.235 0.177 30/360 Amortizing Balloon NA NA
76 7.375 0.042 30/360 Amortizing Balloon NA NA
77 7.125 0.042 Actual/360 Amortizing Balloon NA NA
78 7.250 0.042 Actual/360 Fully Amortizing (1) NA NA
79 7.313 0.092 Actual/360 Amortizing Balloon NA NA
80 7.250 0.092 Actual/360 Amortizing Balloon NA NA
81 8.500 0.042 Actual/360 Amortizing Balloon NA NA
82 7.235 0.177 30/360 Amortizing Balloon NA NA
83 7.210 0.042 Actual/360 Amortizing Balloon NA NA
84 6.920 0.042 Actual/360 Amortizing Balloon NA NA
85 7.625 0.042 Actual/360 Amortizing Balloon NA NA
86 7.125 0.042 Actual/360 Amortizing Balloon NA NA
87 6.875 0.042 Actual/360 Amortizing Balloon NA NA
88 6.125 0.042 Actual/360 Amortizing Balloon NA NA
89 7.000 0.042 Actual/360 Amortizing Balloon NA NA
90 8.150 0.042 Actual/360 Amortizing Balloon NA NA
91 7.188 0.042 Actual/360 Amortizing Balloon NA NA
92 6.950 0.042 Actual/360 Amortizing Balloon NA NA
93 7.170 0.042 Actual/360 Amortizing Balloon NA NA
94 7.010 0.042 Actual/360 Amortizing Balloon NA NA
95 7.250 0.042 Actual/360 Amortizing Balloon NA NA
96 7.610 0.042 Actual/360 Amortizing Balloon NA NA
97 7.000 0.042 Actual/360 Amortizing Balloon NA NA
98 6.880 0.042 Actual/360 Amortizing Balloon NA NA
99 7.250 0.042 30/360 Fully Amortizing NA NA
100 7.000 0.042 Actual/360 Amortizing Balloon NA NA
101 7.250 0.042 Actual/360 Amortizing Balloon NA NA
102 7.063 0.042 Actual/360 Amortizing Balloon NA NA
103 6.813 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
64 264 256 315 307 05/21/98 06/01/20 1,578,000
65 120 115 300 295 08/26/98 09/01/08 4,079,646
66 180 174 180 174 07/10/98 08/01/13 97,043
67 120 113 240 233 07/01/98 07/01/08 3,470,343
68 120 112 360 352 05/14/98 06/01/08 4,375,839
69 120 112 360 352 05/15/98 06/01/08 4,367,217
70 120 111 300 291 04/21/98 05/01/08 3,982,291
71 120 115 300 295 08/20/98 09/01/08 3,924,596
72 216 213 360 357 10/02/98 11/01/16 3,470,148
73 120 114 300 294 07/15/98 08/01/08 3,792,940
74 120 116 360 358 09/18/98 10/01/08 4,225,941
75 216 208 265 257 05/29/98 06/01/16 1,522,953
76 120 112 300 292 05/06/98 06/01/08 3,575,252
77 120 116 360 356 09/28/98 10/01/08 3,850,499
78 360 355 360 355 08/07/98 09/01/28 408,424
79 119 113 240 234 07/02/98 07/01/08 2,958,823
80 120 111 360 351 04/30/98 05/01/08 3,688,247
81 216 209 360 353 06/12/98 07/01/16 3,080,808
82 216 208 265 257 05/29/98 06/01/16 1,132,852
83 180 172 360 352 05/07/98 06/01/13 3,128,868
84 120 116 360 356 09/11/98 10/01/08 3,503,274
85 180 172 240 232 05/22/98 06/01/13 1,742,905
86 120 116 360 356 09/28/98 10/01/08 3,500,454
87 180 175 360 355 08/26/98 09/01/13 3,042,458
88 120 116 300 296 09/29/98 10/01/08 3,110,956
89 120 115 300 295 08/14/98 09/01/08 3,199,722
90 180 174 300 294 07/02/98 08/01/13 2,686,486
91 180 174 300 294 07/17/98 08/01/13 2,555,717
92 120 111 360 351 04/24/98 05/01/08 3,450,154
93 120 112 360 352 05/05/98 06/01/08 3,417,172
94 120 114 360 354 07/15/98 08/01/08 3,390,511
95 120 112 360 352 05/08/98 06/01/08 3,375,985
96 120 111 360 351 04/29/98 05/01/08 3,389,807
97 120 115 300 295 08/26/98 09/01/08 2,999,739
98 120 113 360 353 07/01/98 07/01/08 3,217,492
99 248 239 248 239 04/27/98 01/01/19 -
100 120 115 300 295 08/26/98 09/01/08 2,910,147
101 120 113 360 353 06/04/98 07/01/08 3,161,256
102 120 113 300 293 06/19/98 07/01/08 2,886,328
103 120 116 180 176 09/28/98 10/01/08 1,663,143
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
64 CTL - Retail L(4),D(18) 428,289 428,289
65 Hospitality - Limited Service L(4),D(5.75),O(.25) 432,549 729,300
66 Office - Medical L(4),D(10.75),O(.25) 554,369 721,034
67 Industrial - Warehouse/Distribution L(4),D(6) 481,725 661,089
68 Multifamily - Conventional L(3),D(6.75),O(.25) 404,231 527,024
69 Office - Medical L(4),D(5.75),O(.25) 401,198 718,118
70 Healthcare - Congregate Care L(4),D(5.75),O(.25) 418,344 603,135
71 Hospitality - Full Service L(3),D(6.75),O(.25) 425,372 616,380
72 Multifamily - Sec. 42 L(15),O(3) 430,872 658,246
73 Mixed Use - Self Storage/Retail L(4),D(5.75),O(.25) 408,754 536,468
74 Multifamily - Conventional L(4),D(5.75),O(.25) 368,573 448,057
75 CTL - Hospitality L(2)YM2.5%(16) Steps 377,399
76 Retail - Unanchored L(4),D(5.75),O(.25) 394,675 502,429
77 Multifamily - Conventional L(4),D(5.75),O(.25) 355,723 440,126
78 Multifamily - Conventional L(4),D(25.75),O(.25) 357,651 450,870
79 Hospitality - Limited Service L(4),D(5.67),O(.25) 407,408 626,522
80 Multifamily - Conventional L(3),D(7) 343,817 508,811
81 Multifamily - Sec. 42 L(15),O(3) 382,919 457,551
82 CTL - Hospitality L(2)YM2.5%(16) Steps 332,694
83 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 330,220 449,831
84 Retail - Anchored L(4),D(5.75),O(.25) 318,750 403,056
85 Hospitality - Limited Service L(7),D(8) 395,241 577,839
86 Multifamily - Conventional L(4),D(5.75),O(.25) 323,385 396,433
87 Multifamily - Conventional L(4),D(10.75),O(.25) 315,326 400,227
88 Multifamily - Conventional L(3),D(6.75),O(.25) 312,943 514,441
89 Retail - Anchored L(4),YM1%(5.75),O(.25) 339,254 477,463
90 Hospitality - Limited Service L(4),D(11) 375,254 535,702
91 Retail - Unanchored L(4),D(10.75),O(.25) 345,017 474,231
92 Multifamily - Conventional L(2.58),D(6.67),O(.75) 314,558 394,031
93 Multifamily - Conventional L(3),D(6.75),O(.25) 316,723 397,306
94 Multifamily - Conventional L(2.25),D(7.00),O(.75) 310,557 384,221
95 Multifamily - Conventional L(4),D(5.75),O(.25) 314,756 428,957
96 Retail - Anchored L(3),YM1%(7) 324,404 422,825
97 Hospitality - Limited Service L(4),D(5.75),O(.25) 318,051 471,608
98 Multifamily - Conventional L(4),D(5.75),O(.25) 291,825 378,562
99 CTL - Retail L(4),D(16.67) Steps 342,782
100 Hospitality - Limited Service L(4),D(5.75),O(.25) 308,552 499,054
101 Multifamily - Conventional L(4),D(5.75),O(.25) 294,700 376,157
102 Retail - Unanchored L(4),D(5.75),O(.25) 307,053 417,537
103 Retail - Unanchored L(4),D(5.75),O(.25) 383,779 481,338
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
64 1.00 5,270,000 04/23/98 97.2 29.9 1985
65 1.69 6,800,000 04/28/98 74.6 60.0 65.05 1994
66 1.30 7,605,000 06/19/98 65.8 1.3 Various
67 1.37 6,700,000 04/27/98 74.1 51.8 1967 1991
68 1.30 6,770,000 03/27/98 73.5 64.6 1964 1997
69 1.79 8,750,000 04/15/98 56.8 49.9 1985
70 1.44 6,400,000 04/01/98 77.3 62.2 1989
71 1.45 9,300,000 04/23/98 51.9 42.2 43.00 1928 1985
72 1.53 7,500,000 08/20/98 62.6 46.3 1969 1998
73 1.31 6,800,000 06/03/98 68.7 55.8 1988
74 1.22 6,400,000 06/17/98 72.5 66.0 1974
75 1.00 4,880,000 04/06/98 94.5 31.2 NA 1984
76 1.27 6,000,000 02/02/98 74.3 59.6 1994
77 1.24 6,000,000 08/06/98 73.1 64.2 1974
78 1.26 5,800,000 05/28/98 75.1 7.0 1974
79 1.54 5,700,000 01/01/98 74.2 51.9 59.00 1997
80 1.48 5,700,000 03/31/98 73.3 64.7 1948 1998
81 1.19 5,700,000 05/18/98 72.6 54.1 1997
82 1.00 4,280,000 03/27/98 94.5 26.5 NA 1980 1994
83 1.36 5,200,000 03/25/98 77.5 60.2 1967
84 1.26 5,600,000 06/15/98 71.7 62.6 1982, 1985
85 1.46 5,400,000 03/24/98 74.0 32.3 55.00 1994 1996
86 1.23 5,000,000 08/06/98 79.8 70.0 1970
87 1.27 5,000,000 07/07/98 79.7 60.9 1992
88 1.64 6,000,000 07/01/98 66.3 51.9 1968
89 1.41 6,000,000 04/28/98 66.3 53.3 1970 1997
90 1.43 5,900,000 01/22/98 67.4 45.5 52.67 1984
91 1.37 5,900,000 04/27/98 67.4 43.3 1990
92 1.25 4,950,000 04/13/98 79.5 69.7 1980 1995
93 1.25 4,875,000 12/22/97 79.6 70.1 1951
94 1.24 5,240,000 06/08/98 73.9 64.7 1974 1995
95 1.36 5,200,000 03/23/98 73.6 64.9 1965
96 1.30 5,100,000 04/02/98 74.6 66.5 1996 1998
97 1.48 5,000,000 04/27/98 74.6 60.0 60.12 1986
98 1.30 4,800,000 04/13/98 76.7 67.0 1985
99 1.01 3,900,000 04/09/98 93.8 0.0 1998
100 1.62 4,850,000 04/27/98 74.6 60.0 56.70 1994
101 1.28 6,300,000 03/18/98 56.9 50.2 1912; 1959; 1966
102 1.36 4,800,000 04/25/98 74.4 60.1 1987
103 1.25 5,300,000 03/30/98 67.1 31.4 1989
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
64 29,798 Sq. Ft. 171.85 100.0 05/21/98 0.00 Sq. Ft.
65 100 Rooms 50,711.41 60.9 NA 4.00 % of Gross Revenue Room
66 57,893 Sq. Ft. 86.49 100.0 09/21/98 0.45 Sq. Ft.
67 324,660 Sq. Ft. 15.29 100.0 NA 0.22 Sq. Ft.
68 173 Units 28,741.98 88.0 05/07/98 250.00 Unit
69 75,458 Sq. Ft. 65.89 90.9 08/01/98 0.15 Sq. Ft.
70 103 Units 48,035.03 98.0 09/01/98 298.00 Unit
71 304 Rooms 15,869.89 51.9 NA 4.00 % of Gross Revenue Room
72 276 Units 17,005.36 99.2 09/08/98 250.00 Unit
73 78,661 Sq. Ft. 59.37 100.0 08/18/98 0.16 Sq. Ft.
74 52 Units 89,230.76 100.0 06/12/98 250.00 Unit
75 128 Rooms 36,016.94 NA NA NA Room
76 30,250 Sq. Ft. 147.35 100.0 08/24/98 0.15 Sq. Ft.
77 144 Units 30,475.21 92.2 09/23/98 321.00 Unit
78 160 Units 27,215.05 93.0 07/23/98 250.00 Unit
79 115 Rooms 36,785.89 85.0 NA 3.92 % of Gross Revenue Room
80 216 Units 19,328.56 92.0 02/09/98 250.00 Unit
81 198 Units 20,894.05 99.0 07/20/98 250.00 Unit
82 150 Rooms 26,955.63 NA NA NA Room
83 231 Units 17,437.66 97.0 04/21/98 250.00 Unit
84 42,848 Sq. Ft. 93.68 94.9 08/17/98 0.20 Sq. Ft.
85 118 Rooms 33,859.54 67.0 NA 4.00 % of Gross Revenue Room
86 152 Units 26,246.59 95.2 09/23/98 342.00 Unit
87 105 Units 37,955.32 100.0 08/01/98 252.00 Unit
88 140 Units 28,423.07 98.0 07/01/98 250.00 Unit
89 145,229 Sq. Ft. 27.39 98.3 05/01/98 0.16 Sq. Ft.
90 105 Rooms 37,891.62 70.0 NA 4.00 % of Gross Revenue Room
91 63,869 Sq. Ft. 62.22 92.4 08/01/98 0.18 Sq. Ft.
92 200 Units 19,672.40 95.4 04/16/98 273.00 Unit
93 168 Units 23,087.45 85.0 04/15/98 252.98 Unit
94 164 Units 23,595.77 98.0 06/25/98 274.00 Unit
95 239 Units 16,001.77 94.0 04/18/98 300.00 Unit
96 75,100 Sq. Ft. 50.66 100.0 08/25/98 0.10 Sq. Ft.
97 80 Rooms 46,609.75 69.0 NA 4.00 % of Gross Revenue Room
98 140 Units 26,296.24 96.6 06/26/98 300.00 Unit
99 10,125 Sq. Ft. 361.10 100.0 04/12/98 0.30 Sq. Ft.
100 85 Rooms 42,557.81 67.8 NA 4.00 % of Gross Revenue Room
101 79 Units 45,362.86 99.0 05/21/98 250.00 Unit
102 34,021 Sq. Ft. 105.00 100.0 07/01/98 0.10 Sq. Ft.
103 66,289 Sq. Ft. 53.64 93.2 09/01/98 0.35 Sq. Ft.
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
64 Rite Aid of California 29,798 05/31/20
65
66 Southeastern Eye Center Greensboro 47,975 07/01/12 Central Carolina Surgical
Eye Associates Hickory 4,000
67 M.J. Resurrection, Inc. 324,660 07/01/13
68
69 Chesapeake Orthopedic and Sports Medicine 20,544 03/31/04 Baltimore Washington Eye
Center of Paul A. Kohlhepp 9,792
70
71
72
73 The Fish Cove 2,640 04/01/99 AirHardware 2,420
74
75 Motel 6 33,210 05/31/16
76 Blockbuster Music 14,950 10/31/99 Kinkos 7,000
77
78
79
80
81
82 Motel 6 37,704 05/31/16
83
84 American Drug Stores 18,160 05/01/06 Dental Clinic 3,600
85
86
87
88
89 K-Mart 55,552 03/31/04 J. C. Penney 38,720
90
91 El Tropico Rest. 7,500 03/31/01 Martino Tire 5,250
92
93
94
95
96 Deseret Industries 25,200 05/01/08 OfficeMax 23,500
97
98
99 CVS Corporation 10,125 01/31/19
100
101
102 Gallery Fine Furniture 6,800 05/01/01 Chilli's Restaurant 6,000
103 Georgia Carpet Outlet 12,197 07/01/02 6 Pockets 8,022
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
2nd 3rd 3rd
Largest Largest Largest
Tenant Tenant Tenant
Lease Area Lease
Expiration Leased Expiration
Order Date 3rd Largest Tenant Name (Sq. Ft.) Date
- -----------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C>
64
65
66 02/01/02 Central Carolina Surgical Eye Associates Winston-Salem 2,775 11/01/02
67
68
69 03/31/03 American Radiology Services, Inc. 7,152 06/30/01
70
71
72
73 12/31/99 Mr. Dryclean 1,600 04/14/03
74
75
76 04/09/05 Men's Wearhouse 4,500 05/31/00
77
78
79
80
81
82
83
84 07/01/02 Tandy Corp. 2,400 01/01/01
85
86
87
88
89 08/31/99 Staples 23,526 10/31/07
90
91 07/31/02 Nevada Bob's 4,500 01/31/00
92
93
94
95
96 01/31/11 United Furniture Warehouse 21,600 08/01/16
97
98
99
100
101
102 06/13/07 Mattress & More 3,900 12/30/00
103 07/01/02 Waterbed Suite-MTM 0 NA
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
104 9821029 Spanish Oaks 7557 Arlington Expressway Jacksonville
105 9821027 Abbey Apts. 1415 Abbey Place Charlotte
106 10019 Royal Palms 40890 Sandy Gale Lane Palm Desert
107 9823054 Motel 6 1261 Houston - Spring 19606 Cypresswood Court Spring
108 9822036 Best Buy store # 545 2201 Farrand Drive Wilmington
109 9822140 Days Inn Oceanside 435 N. Atlantic Blvd. Ft. Lauderdale
110 9821052 Welby Park Estates 1399 Phillips Road New Bedford
111 9823076 Motel 6 284 South Deerfield Route 5 & 10 South Deerfield
112 9821133 Coopers Pond Apts. 543 Cricklewood Drive State College
113 9822015 Round Grove Crossing Shopping
Center / Park Lane Village 297 W. FM 3040 / 502 S. Old Orchard Lane Lewisville
114 9822131 Best Western Staunton Inn 260 Rowe Road Staunton
115 9823010 Rite Aid Littleton 118 136 Meadow Street Littleton
116 9822064 7 Perimeter Road 7 Perimeter Road Manchester
117 9822159 Celluar One Shopping Center 1170 West Patrick Street Frederick
118 9821010 Greenridge Apartments 2045 Highway 41 South Greenbrier
119 9821061 Naples Place 1900-2052 Sunshine Blvd.; 4544-4626 Sunset Naples
Blvd.; 5270-5340 16th Place;5451-5501 16th
Place; 6240-6256 Rattlesnake Hammock Rd.
120 9822185 Sun Center 101 SE 2nd Place Gainesville
121 9821014 Signal Hill Apartments 138-102 Signal Hill Drive Statesville
122 9821053 Lakeview Townhomes 4811 Likins Circle Wichita Falls
123 9821024 Granville Apts. 3730 N. Sharon Amity Charlotte
124 9822167 Chesapeake Station Maryland Route 261 Chesapeake Beach
125 9822018 Chapel Trail Commerce Center 911 NW 209th Avenue Pembroke Pines
126 9822122 Gateway Plaza-Las Vegas 1306 and 1318 Craig Road N Las Vegas
127 9822060 48th Executive Court 1107 48th Avenue North Myrtle Beach
128 9821001 Brookstone Manor 135 Elm Street Milford
129 9821062 Gardena West Partnership 1261 - 1281 W. Rosecrans Ave. Gardena
130 9821040 Westgate Apartments 550 Lawrenceville Road Lawrenceville
131 20025 Midtown Market Shopping Center 764 Airport Rd. Chapel Hill
132 9822059 EZ8 Motel (Good Nite Inn) 5201 South Industrial Road Las Vegas
133 9822192 Grandview Plaza Office Building 10850 Traverse Hwy Traverse City
134 9823082 Rite Aid Norfolk 6124 Chesapeake Boulevard Norfolk
135 30092 Walgreen Pembroke Pines Pines Boulevard 15911 Pines Boulevard Pembroke Pines
136 9821045 Sand Cove Apartments 3813 Gulf Blvd St. Petersburg
137 9822012 AmeriHost Inn / Athens 20 East Home St Athens
138 9823032 Walgreen Melbourne Wickham Wickham Road & Post Road Melbourne
139 9821149 Greenlawn Apartments 11211 Greenlawn Avenue Culver City
140 9821115 Tennessee Village Apartments 4404 Tennessee Avenue Nashville
141 9822038 Holiday Inn Express 234 Hendersonville Road Asheville
142 9821150 New Meadowbrook Village 903-1005 East Front Street Plainfield
143 9823115 Rite Aid Saginaw Genesee 525 West Genesee Avenue Saginaw
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
104 FL 32211 3,560,000 3,540,649 0.30 75.02
105 NC 28209 3,484,000 3,465,160 0.30 75.32
106 CA 92211 3,450,000 3,440,023 0.30 75.62
107 TX 77388 3,580,490 3,429,285 0.29 75.91
108 DE 19808 3,450,000 3,400,748 0.29 76.20
- --------------------------------------------------------------------------------------------------------------------------
109 FL 33304 3,360,000 3,344,868 0.29 76.49
110 MA 02745 3,320,000 3,303,934 0.28 76.77
111 MA 01373 3,442,399 3,297,026 0.28 77.06
112 PA 16803 3,280,000 3,270,465 0.28 77.34
113 TX 75067 3,225,000 3,194,175 0.27 77.61
- --------------------------------------------------------------------------------------------------------------------------
114 VA 24401 3,190,000 3,171,949 0.27 77.89
115 NH 03263 3,193,253 3,164,032 0.27 78.16
116 NH 03103 3,150,000 3,135,708 0.27 78.43
117 MD 21703 3,100,000 3,087,146 0.27 78.69
118 TN 37073 3,080,000 3,062,282 0.26 78.96
- --------------------------------------------------------------------------------------------------------------------------
119 FL 34116 3,000,000 2,986,725 0.26 79.21
120 FL 32601 3,000,000 2,980,762 0.26 79.47
121 NC 28625 3,000,000 2,969,444 0.26 79.72
122 TX 76308 2,960,000 2,945,639 0.25 79.98
123 NC 28205 2,944,000 2,928,080 0.25 80.23
- --------------------------------------------------------------------------------------------------------------------------
124 MD 20732 2,925,000 2,914,055 0.25 80.48
125 FL 33029 2,920,000 2,890,988 0.25 80.73
126 NV 89030 2,900,000 2,887,966 0.25 80.98
127 SC 29577 2,900,000 2,878,439 0.25 81.22
128 NH 03055 2,880,000 2,861,440 0.25 81.47
- --------------------------------------------------------------------------------------------------------------------------
129 CA 90247 2,864,000 2,851,551 0.25 81.71
130 NJ 08648 2,857,500 2,841,705 0.24 81.96
131 NC 27514 2,800,000 2,794,346 0.24 82.20
132 NV 89118 2,765,000 2,745,445 0.24 82.43
133 MI 49684 2,750,000 2,739,073 0.24 82.67
- --------------------------------------------------------------------------------------------------------------------------
134 VA 23513 2,756,771 2,735,911 0.24 82.91
135 FL 33029 2,742,310 2,725,955 0.23 83.14
136 FL 33706 2,740,000 2,726,706 0.23 83.37
137 OH 45701 2,750,000 2,712,288 0.23 83.61
138 FL 32935 2,754,169 2,709,583 0.23 83.84
- --------------------------------------------------------------------------------------------------------------------------
139 CA 90230 2,700,000 2,690,083 0.23 84.07
140 TN 37209 2,700,000 2,689,455 0.23 84.30
141 NC 28803 2,700,000 2,664,253 0.23 84.53
142 NJ 07061 2,667,000 2,658,377 0.23 84.76
143 MI 48602 2,659,390 2,639,020 0.23 84.99
- --------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
104 7.190 0.042 Actual/360 Amortizing Balloon NA NA
105 7.210 0.042 Actual/360 Amortizing Balloon NA NA
106 6.770 0.042 Actual/360 Amortizing Balloon NA NA
107 7.235 0.177 30/360 Amortizing Balloon NA NA
108 7.210 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
109 6.875 0.042 Actual/360 Amortizing Balloon NA NA
110 7.010 0.042 Actual/360 Amortizing Balloon NA NA
111 7.235 0.177 30/360 Amortizing Balloon NA NA
112 6.750 0.042 Actual/360 Amortizing Balloon NA NA
113 7.330 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
114 7.000 0.042 Actual/360 Amortizing Balloon NA NA
115 6.942 0.042 30/360 Amortizing Balloon NA NA
116 7.250 0.042 Actual/360 Amortizing Balloon NA NA
117 7.000 0.042 30/360 Amortizing Balloon NA NA
118 8.375 0.042 30/360 Fully Amortizing NA NA
- -------------------------------------------------------------------------------------------------------------------------------
119 6.800 0.042 Actual/360 Amortizing Balloon NA NA
120 7.250 0.042 Actual/360 Amortizing Balloon NA NA
121 7.000 0.042 Actual/360 Fully Amortizing (1) NA NA
122 7.000 0.042 Actual/360 Amortizing Balloon NA NA
123 7.210 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
124 6.800 0.042 Actual/360 Amortizing Balloon NA NA
125 7.130 0.042 Actual/360 Amortizing Balloon NA NA
126 7.050 0.042 Actual/360 Amortizing Balloon NA NA
127 7.250 0.042 Actual/360 Amortizing Balloon NA NA
128 6.950 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
129 6.870 0.042 Actual/360 Amortizing Balloon NA NA
130 7.125 0.042 Actual/360 Amortizing Balloon NA NA
131 7.120 0.042 Actual/360 Amortizing Balloon NA NA
132 7.500 0.042 Actual/360 Amortizing Balloon NA NA
133 7.500 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
134 6.826 0.042 30/360 Amortizing Balloon NA NA
135 6.500 0.042 30/360 Amortizing Balloon NA NA
136 7.000 0.042 Actual/360 Amortizing Balloon NA NA
137 7.500 0.042 Actual/360 Fully Amortizing (1) NA NA
138 7.125 0.042 30/360 Fully Amortizing NA NA
- -------------------------------------------------------------------------------------------------------------------------------
139 6.875 0.042 Actual/360 Amortizing Balloon NA NA
140 6.625 0.042 Actual/360 Amortizing Balloon NA NA
141 7.750 0.042 Actual/360 Fully Amortizing (1) NA NA
142 7.375 0.042 Actual/360 Amortizing Balloon NA NA
143 7.290 0.042 30/360 Fully Amortizing NA NA
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
104 120 112 360 352 05/06/98 06/01/08 3,120,888
105 180 172 360 352 05/07/98 06/01/13 2,691,598
106 120 116 360 356 09/21/98 10/01/08 2,990,685
107 216 208 265 257 05/29/98 06/01/16 1,132,852
108 120 112 240 232 05/21/98 06/01/08 2,366,817
109 120 116 300 296 09/14/98 10/01/08 2,677,603
110 120 113 360 353 06/23/98 07/01/08 2,897,097
111 216 208 265 257 05/29/98 06/01/16 1,089,161
112 120 116 360 356 09/30/98 10/01/08 2,841,771
113 120 111 300 291 05/01/98 05/01/08 2,607,136
114 120 115 300 295 08/26/98 09/01/08 2,551,778
115 264 256 315 307 05/21/98 06/01/20 974,998
116 120 113 360 353 07/01/98 07/01/08 2,766,100
117 180 175 360 355 08/27/98 09/01/13 2,294,585
118 360 351 360 351 05/01/98 05/01/28 -
119 120 114 360 354 07/10/98 08/01/08 2,602,789
120 120 114 300 294 07/29/98 08/01/08 2,418,807
121 300 291 300 291 04/17/98 05/01/23 164,219
122 120 113 360 353 06/25/98 07/01/08 2,582,268
123 180 172 360 352 05/07/98 06/01/13 2,274,415
124 120 115 360 355 08/20/98 09/01/08 2,537,374
125 120 111 300 291 04/15/98 05/01/08 2,346,120
126 120 114 360 354 07/31/98 08/01/08 2,532,911
127 120 113 300 293 06/17/98 07/01/08 2,338,594
128 120 111 360 351 04/28/98 05/01/08 2,509,203
129 120 114 360 354 07/13/98 08/01/08 2,489,499
130 180 172 360 352 05/29/98 06/01/13 2,199,154
131 180 177 360 357 10/15/98 11/01/13 2,153,450
132 120 113 300 293 06/25/98 07/01/08 2,246,706
133 120 116 300 296 09/10/98 10/01/08 2,234,007
134 264 257 326 319 06/16/98 07/01/20 969,498
135 236 232 285 281 09/18/98 06/01/18 811,888
136 120 113 360 353 06/10/98 07/01/08 2,390,342
137 240 232 240 232 05/04/98 06/01/18 104,324
138 234 226 234 226 05/15/98 12/01/17 -
139 120 115 360 355 08/18/98 09/01/08 2,346,931
140 120 115 360 355 08/26/98 09/01/08 2,331,021
141 240 232 240 232 05/22/98 06/01/18 110,199
142 180 175 360 355 08/17/98 09/01/13 2,074,793
143 237 233 237 233 09/09/98 07/01/18 -
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
104 Multifamily - Conventional L(4),D(6) 289,689 457,427
105 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 284,071 380,278
106 Multifamily - Conventional L(2.17),D(7.08),O(.75) 269,070 340,572
107 CTL - Hospitality L(2)YM2.5%(16) Steps 282,168
108 Retail - Anchored L(4),D(6) 326,213 471,503
109 Hospitality - Full Service L(3),D(6.75),O(.25) 281,766 448,096
110 Multifamily - Conventional L(2.42),D(6.83),O(.75) 265,324 410,257
111 CTL - Hospitality L(2)YM2.5%(16) Steps 271,286
112 Multifamily - Conventional L(4),D(5.75),O(.25) 255,288 354,591
113 Retail - Unanchored L(3),YM5%(2),5%(1),4%(1)3%(1),2%(1),1%(.75),O(.25) 281,724 369,205
114 Hospitality - Limited Service L(4),D(5.75),O(.25) 270,555 425,523
115 CTL - Retail L(4),D(18) 264,627 264,627
116 Industrial - Warehouse/Distribution L(3),D(6),O(1) 257,863 377,837
117 Retail - Unanchored L(2.25),D(12.5),O(.25) 247,493 329,028
118 Multifamily - Sec. 42 L(15),O(15) 280,923 341,927
119 Multifamily - Conventional L(4),D(5.75),O(.25) 234,693 329,352
120 Mixed Use - Office/Retail L(4),D(5.75),O(.25) 260,211 349,647
121 Multifamily - Conventional L(3),D(12),O(10) 254,441 332,479
122 Multifamily - Conventional L(3),D(6.75),O(.25) 236,315 301,212
123 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 240,042 308,070
124 Retail - Anchored L(3),D(6.75),O(.25) 228,826 336,235
125 Industrial - Warehouse/Distribution L(3),D(7) 250,569 359,288
126 Retail - Anchored L(3),D(6.75),O(.25) 232,695 293,696
127 Office L(5),D(4.75),O(.25) 251,537 334,522
128 Multifamily - Conventional L(2.58),D(7.42) 228,769 307,760
129 Multifamily - Conventional L(4),D(5.75),O(.25) 225,658 283,717
130 Multifamily - Conventional L(2.5),D(12.5) 231,018 291,593
131 Retail - Unanchored L(4),D(10.75),O(.25) 226,256 292,453
132 Hospitality - Limited Service L(4),D(5.75),O(.25) 245,197 365,387
133 Office L(4),D(5.75),O(.25) 243,867 327,773
134 CTL - Retail L(4),D(18) 223,332 223,332
135 CTL - Retail L(8),D(11.67) 226,917 254,147
136 Multifamily - Conventional L(4),D(5.75),O(.25) 218,751 283,798
137 Hospitality - Limited Service L(5),YM1%(10),5%(1),4%(1),3%(1),2%(1),1%(.75),O(.25) 265,846 394,701
138 CTL - Retail L(6),D(13.5) 261,736 262,521
139 Multifamily - Conventional L(4),D(5.75),O(.25) 212,845 316,195
140 Multifamily - Conventional L(4),D(5.75),O(.25) 207,461 283,734
141 Hospitality - Limited Service L(8),YM1%(7),5%(1),4%(1),3%(1),2%(1),O(1) 265,987 459,317
142 Multifamily - Conventional L(4),D(10.75),O(.25) 221,044 282,858
143 CTL - Retail L(4),D(15.75) 254,429 255,192
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
104 1.58 4,450,000 03/06/98 79.6 70.1 1969 1995
105 1.34 4,380,000 03/25/98 79.1 61.5 1966
106 1.27 4,600,000 08/27/98 74.8 65.0 1986 1995
107 1.00 3,630,000 03/18/98 94.5 31.2 NA 1984
108 1.45 6,800,000 03/17/98 50.0 34.8 1983 1995
109 1.59 4,800,000 05/29/98 69.7 55.8 67.00 1956 1997
110 1.55 4,150,000 06/10/98 79.6 69.8 1984 1995
111 1.00 3,490,000 04/03/98 94.5 31.2 NA 1977
112 1.39 4,100,000 08/14/98 79.8 69.3 1973 1993
113 1.31 4,300,000 11/14/97 74.3 60.6 1984
114 1.57 4,400,000 04/28/98 72.1 58.0 49.58 1988
115 1.00 3,250,000 04/03/98 97.4 30.0 1998
116 1.47 4,250,000 06/16/98 73.8 65.1 1983
117 1.33 4,200,000 06/26/98 73.5 54.6 1989
118 1.22 3,880,000 04/15/98 78.9 0.0 1996
119 1.40 4,380,000 06/15/98 68.2 59.4 1985 1996
120 1.34 4,000,000 03/26/98 74.5 60.5 1985 1985
121 1.31 3,750,000 03/27/98 79.2 4.4 1974
122 1.27 3,700,000 04/24/98 79.6 69.8 1975 1997
123 1.28 3,680,000 03/25/98 79.6 61.8 1966
124 1.47 3,900,000 07/23/98 74.7 65.1 1987
125 1.43 3,750,000 01/15/98 77.1 62.6 1996
126 1.26 4,000,000 06/02/98 72.2 63.3 1996
127 1.33 4,200,000 03/12/98 68.5 55.7 1984
128 1.35 3,600,000 04/02/98 79.5 69.7 1985 1995
129 1.26 3,580,000 06/10/98 79.7 69.5 1970
130 1.26 3,600,000 05/21/98 78.9 61.1 1962
131 1.29 3,725,000 08/06/98 75.0 57.8 1967 1998
132 1.49 3,950,000 05/26/98 69.5 56.9 32.25 1981
133 1.34 3,850,000 06/17/98 71.1 58.0 1976
134 1.00 2,770,000 04/22/98 98.8 35.0 1998
135 1.12 3,000,000 02/02/98 90.9 27.1 1998
136 1.30 3,625,000 05/05/98 75.2 65.9 1973
137 1.48 4,600,000 09/15/97 59.0 2.3 56.50 1996
138 1.00 3,150,000 03/09/98 86.0 0.0 1998
139 1.49 3,600,000 06/09/98 74.7 65.2 1988
140 1.37 3,775,000 10/02/97 71.2 61.8 1969
141 1.73 3,600,000 09/16/97 74.0 3.1 69.00 1995 1995
142 1.28 3,335,000 05/22/98 79.7 62.2 1937 1988
143 1.00 2,870,000 07/31/98 92.0 0.0 1998
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
104 194 Units 18,250.77 95.9 04/14/98 271.00 Unit
105 128 Units 27,071.56 97.0 04/21/98 250.00 Unit
106 102 Units 33,725.72 96.1 09/03/98 260.00 Unit
107 108 Rooms 31,752.64 NA NA NA Room
108 48,000 Sq. Ft. 70.85 100.0 NA 0.28 Sq. Ft.
109 84 Rooms 39,819.86 67.3 NA 4.00 % of Gross Revenue Room
110 108 Units 30,591.98 96.3 06/11/98 250.00 Unit
111 124 Rooms 26,588.92 NA NA NA Room
112 90 Units 36,338.50 100.0 08/01/98 286.00 Unit
113 75,778 Sq. Ft. 42.15 95.2 07/27/98 0.12 Sq. Ft.
114 80 Rooms 39,649.36 73.1 NA 4.00 % of Gross Revenue Room
115 12,696 Sq. Ft. 249.21 100.0 05/21/98 0.00 Sq. Ft.
116 122,400 Sq. Ft. 25.62 100.0 09/15/98 0.27 Sq. Ft.
117 22,489 Sq. Ft. 137.27 100.0 07/01/98 0.15 Sq. Ft.
118 120 Units 25,519.02 94.0 03/07/98 250.00 Unit
119 118 Units 25,311.23 95.2 06/19/98 310.00 Unit
120 55,518 Sq. Ft. 53.69 91.8(7) 07/29/98 0.13 Sq. Ft.
121 122 Units 24,339.70 99.0 02/17/98 255.00 Unit
122 120 Units 24,546.99 90.0 06/18/98 250.00 Unit
123 101 Units 28,990.89 97.0 04/21/98 250.00 Unit
124 41,123 Sq. Ft. 70.86 88.5 07/27/98 0.17 Sq. Ft.
125 55,500 Sq. Ft. 52.09 97.0 09/15/98 0.20 Sq. Ft.
126 16,134 Sq. Ft. 179.00 100.0 07/01/98 0.11 Sq. Ft.
127 48,172 Sq. Ft. 59.75 98.1 01/01/98 0.44 Sq. Ft.
128 92 Units 31,102.61 96.7 04/25/98 250.00 Unit
129 84 Units 33,947.03 95.2 05/31/98 259.00 Unit
130 72 Units 39,468.13 100.0 03/01/98 250.00 Unit
131 21,313 Sq. Ft. 131.11 100.0 10/01/98 0.10 Sq. Ft.
132 127 Rooms 21,617.68 66.0 NA 4.00 % of Gross Revenue Room
133 61,847 Sq. Ft. 44.29 100.0 05/01/98 0.14 Sq. Ft.
134 10,752 Sq. Ft. 254.46 100.0 06/16/98 0.00 Sq. Ft.
135 15,930 Sq. Ft. 171.12 100.0 04/06/98 0.20 Sq. Ft.
136 72 Units 37,870.92 97.0 05/01/98 250.00 Unit
137 102 Rooms 26,591.06 63.5 NA 4.00 % of Gross Revenue Room
138 15,930 Sq. Ft. 170.09 100.0 05/15/98 0.30 Sq. Ft.
139 42 Units 64,049.60 97.6 08/15/98 250.00 Unit
140 288 Units 9,338.39 96.5 08/06/98 250.00 Unit
141 72 Rooms 37,003.51 71.0 NA 4.00 % of Gross Revenue Room
142 80 Units 33,229.72 94.3 07/23/98 250.00 Unit
143 11,180 Sq. Ft. 236.05 100.0 09/09/98 0.30 Sq. Ft.
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
104
105
106
107 Motel 6 49,143 05/31/16
108 Best Buy 48,000 01/31/07
109
110
111 Motel 6 37,000 05/31/16
112
113 Fitness World 11,167 04/30/04 Dolgencorp of Texas, Inc. 6,432
114
115 Rite Aid of New Hampshire 12,696 05/31/20
116 U.S. Postal Service 33,600 01/31/04 Zydacron, Inc. 21,600
117 Blockbuster Video 6,111 12/31/99 Music & Arts 3,470
118
119
120 Downtown Athletic Club 10,390 07/01/02 Alachua County Facilities Mgt. 7,280
121
122
123
124 Roland's Supermarket 16,675 07/31/08 Chesapeake Drug 6,646
125 American Aviation 7,500 08/31/00 Sherwin Williams 4,500
126 Rancher Bar & Grill 3,954 10/01/07 Optionz Haircutz 1,800
127 GSA 6,720 06/30/99 Crestar 3,259
128
129
130
131 Ladies Health and Fitness 7,268 12/31/08 Fosters Market 5,530
132
133 Distribution solutions Inter 14,892 09/30/06 Hagerty Insurance Co 6,008
134 Rite Aid of Virginia 10,752 06/30/20
135 Walgreen Company 15,930 06/30/18
136
137
138 Walgreen Company 15,930 12/31/17
139
140
141
142
143 Rite Aide of Michigan 11,180 08/27/18
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
2nd 3rd 3rd
Largest Largest Largest
Tenant Tenant Tenant
Lease Area Lease
Expiration Leased Expiration
Order Date 3rd Largest Tenant Name (Sq. Ft.) Date
- -----------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C>
104
105
106
107
108
109
110
111
112
113 01/24/01 Barbara Mebane & Tony McGee 5,943 07/31/00
114
115
116 07/31/99 Valinor, Inc. 16,800 08/31/01
117 02/28/02 Casual Male 3,378 01/01/01
118
119
120 09/30/98(7) Humana 4,500 11/01/99
121
122
123
124 02/28/02 U.S. Postal Service 4,555 09/30/07
125 12/31/00 St. Edwards 3,000 07/31/99
126 12/01/01 Dairy Queen 1,500 10/01/06
127 12/31/99 Medical Optical 2,778 06/30/99
128
129
130
131 12/01/01 Flying Burrito 3,244 12/01/07
132
133 01/01/00 Physicians MSO 5,995 06/30/00
134
135
136
137
138
139
140
141
142
143
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
144 9823009 Rite Aid Dover 1580 S. Dupont Highway Dover
145 9823074 Motel 6 134 San Antonio (N) 9503 Interstate Highway 35 No. San Antonio
146 9822156 Town West Plaza 1400 Westmore Avenue Terrell
147 9821060 Vintage Square Apartments 1176 Rosemarie Lane Stockton
148 9823109 Rite Aid - Dixie Highway, Lousiville 4721 Dixie Highway Louisville
149 9821039 Cohannet Village 203 - 207 Winthrop Street Taunton
150 9821130 Shelbourne Towers 860 Twentieth Street Knoxville
151 9822141 Holiday Inn Express US 11& 64 Lexington
152 9823031 Walgreen Jacksonville St Augustine 4297 Oldfield Crossing Drive Jacksonville
153 9821081 Southampton Apartments 1400 Henderson Road Angleton
154 9822189 4600 N. Harlem 4600 N. Harlem Harwood Heights
155 9821066 Southern Pines 15373 St. Charles St. Gulfport
156 9821002 Boca Winds 530 N.E. 47th Street Boca Raton
157 9822031 Wilson Square Shopping Center 6855 Wilson Boulevard Jacksonville
158 9822091 Glenside Kmart 5432 Glenside Drive Richmond
159 9822089 Best Western Inn at Chimney Hill 901 University Drive College Station
160 9822134 Comfort Inn Troutville 2654 Lee Highway Troutville
161 9823094 Eckerd Pompano Sample 850 East Sample Road Pompano Beach
162 9823121 Walgreen Hialeah 4th Ave SEC Southeast 4th Ave Hialeah
163 9821021 Villa East 2121 Village Lake Drive Charlotte
164 9822047 Comcast Data Center 1303 Wrights Lane East Goshen
165 9822079 F & W Office Park - Bldg. F 3800 Electric Rd Roanoke
166 9823030 Walgreens Ft Worth 6555 Forest Hill Drive Forest Hill
167 9823012 Rite Aid Louisville - Taylor & Bluegrass 4901 Taylor Louisville
168 9822078 Warner Self Storage 6415 DeSota Ave. Woodland Hills
169 9823113 Eckerd - Charlotte - Harris Blvd 7115 East Harris Blvd Charlotte
170 10000 1021/1101/1103-1137/1200 Lawrence; 1200 Clement 1021/1101/1103-1137/1200 Lawrence; 1200 Clement Radford
171 9821121 Country Club Estates 413 West 11th Street Alexandria
172 9822026 Sack And Save Grocery 915 S.R. 19 North Meridian
173 9823028 Rite Aid - Portland 1952 North Lombard Street Portland
174 9821038 Thrippence 3623 Fountain Avenue Chattanooga
175 9821082 Salem Pines Apartments 1904 East Mulberry Street Angleton
176 9822000 Gaston Manor 1717 Union Road Gastonia
177 9821054 Fox Run 2601 South S.E. Loop Tyler
178 9822082 Ramada Limited Biloxi 1768 Beach Boulevard Biloxi
179 9821152 Elms Apartment House 1078 New Britain Ave West Hartford
180 9821075 Marlaine North & South Apartments 1201-1203,1225 N. Pierce Street Arlington
181 9821112 Woodbine Gardens 1 Woodbine Road Avenel
182 9821071 Arbor Apartments 2411 Southwest 35th Place Gainesville
183 9822176 Shoppes at Home Depot 1135-41 Bell Road Antioch
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
144 DE 19901 2,646,892 2,628,580 0.23 85.21
145 TX 78501 2,732,219 2,616,837 0.22 85.44
146 TX 75160 2,600,000 2,588,854 0.22 85.66
147 CA 95207 2,575,000 2,564,500 0.22 85.88
148 KY 40210 2,582,955 2,560,917 0.22 86.10
149 MA 02780 2,560,000 2,545,850 0.22 86.32
150 TN 37916 2,550,000 2,540,197 0.22 86.54
151 VA 24450 DOM 2,550,000 2,535,570 0.22 86.76
152 FL 32223 2,547,438 2,506,523 0.22 86.97
153 TX 77515 2,516,000 2,507,043 0.22 87.19
154 IL 60062 2,515,000 2,501,100 0.22 87.40
155 MS 39503 2,513,000 2,502,463 0.22 87.62
156 FL 33431 2,500,000 2,483,889 0.21 87.83
157 FL 32210 2,500,000 2,478,832 0.21 88.04
158 VA 23228 2,500,000 2,459,759 0.21 88.25
159 TX 77840 2,475,000 2,462,172 0.21 88.47
160 VA 24175 DOM 2,437,000 2,423,210 0.21 88.67
161 FL 33064 2,435,220 2,416,142 0.21 88.88
162 FL 33010 2,417,448 2,401,281 0.21 89.09
163 NC 28212 2,400,000 2,387,022 0.21 89.29
164 PA 19380 2,400,000 2,372,626 0.20 89.50
165 VA 24018 2,400,000 2,356,298 0.20 89.70
166 TX 76140 2,400,549 2,357,764 0.20 89.90
167 KY 40217 2,362,096 2,340,130 0.20 90.10
168 CA 91367 2,350,000 2,334,575 0.20 90.30
169 NC 28227 2,345,959 2,324,301 0.20 90.50
170 VA 24141 Collegiate 2,327,763 2,322,754 0.20 90.70
171 IN 46001 2,310,000 2,303,267 0.20 90.90
172 MS 39307 2,320,000 2,289,753 0.20 91.10
173 OR 97201 2,284,921 2,265,426 0.19 91.29
174 TN 37412 2,248,000 2,236,495 0.19 91.49
175 TX 77515 2,184,000 2,176,225 0.19 91.67
176 NC 28054 2,165,000 2,151,666 0.18 91.86
177 TX 75701 2,100,000 2,089,838 0.18 92.04
178 MS 39531 2,100,000 2,087,181 0.18 92.22
179 CT 06110 2,050,000 2,042,702 0.18 92.39
180 VA 22209 Murphy III 2,050,000 2,042,471 0.18 92.57
181 NJ 07001 2,000,000 1,989,615 0.17 92.74
182 FL 32608 2,000,000 1,992,021 0.17 92.91
183 TN 37013 2,000,000 1,988,725 0.17 93.08
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
144 6.942 0.042 30/360 Amortizing Balloon NA NA
145 7.235 0.177 30/360 Amortizing Balloon NA NA
146 7.125 0.042 Actual/360 Amortizing Balloon NA NA
147 7.117 0.042 Actual/360 Amortizing Balloon NA NA
148 6.942 0.042 30/360 Amortizing Balloon NA NA
149 7.125 0.042 Actual/360 Amortizing Balloon NA NA
150 6.690 0.042 Actual/360 Amortizing Balloon NA NA
151 7.000 0.042 Actual/360 Amortizing Balloon NA NA
152 7.125 0.042 30/360 Fully Amortizing NA NA
153 7.000 0.042 Actual/360 Amortizing Balloon NA NA
154 7.125 0.042 Actual/360 Amortizing Balloon NA NA
155 7.010 0.042 Actual/360 Amortizing Balloon NA NA
156 6.950 0.042 Actual/360 Amortizing Balloon NA NA
157 7.375 0.042 Actual/360 Amortizing Balloon NA NA
158 6.900 0.042 30/360 Fully Amortizing NA NA
159 7.460 0.042 Actual/360 Amortizing Balloon NA NA
160 7.000 0.042 Actual/360 Amortizing Balloon NA NA
161 6.938 0.042 30/360 Amortizing Balloon NA NA
162 6.875 0.042 30/360 Amortizing Balloon NA NA
163 7.210 0.042 Actual/360 Amortizing Balloon NA NA
164 7.750 0.042 Actual/360 Fully Amortizing (1) NA NA
165 7.125 0.042 Actual/360 Fully Amortizing (1) NA NA
166 7.000 0.042 30/360 Fully Amortizing NA NA
167 6.826 0.042 30/360 Amortizing Balloon NA NA
168 7.130 0.042 Actual/360 Amortizing Balloon NA NA
169 6.700 0.042 30/360 Fully Amortizing NA NA
170 6.875 0.042 Actual/360 Amortizing Balloon NA NA
171 6.740 0.042 Actual/360 Amortizing Balloon NA NA
172 7.250 0.042 Actual/360 Amortizing Balloon NA NA
173 6.942 0.042 30/360 Amortizing Balloon NA NA
174 7.420 0.042 Actual/360 Amortizing Balloon NA NA
175 7.000 0.042 Actual/360 Amortizing Balloon NA NA
176 7.125 0.042 Actual/360 Amortizing Balloon NA NA
177 7.010 0.042 Actual/360 Amortizing Balloon NA NA
178 7.500 0.042 Actual/360 Amortizing Balloon NA NA
179 7.000 0.042 Actual/360 Amortizing Balloon NA NA
180 6.875 0.042 Actual/360 Amortizing Balloon NA NA
181 6.125 0.042 Actual/360 Amortizing Balloon NA NA
182 7.200 0.042 Actual/360 Amortizing Balloon NA NA
183 7.020 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
144 262 256 313 307 07/23/98 06/01/20 810,000
145 216 208 265 257 05/29/98 06/01/16 864,463
146 120 116 300 296 09/17/98 10/01/08 2,088,181
147 180 174 360 354 07/09/98 08/01/13 1,980,896
148 264 256 325 317 05/21/98 06/01/20 909,999
149 180 172 360 352 06/01/98 06/01/13 1,970,198
150 120 115 360 355 08/28/98 09/01/08 2,205,455
151 120 115 300 295 08/26/98 09/01/08 2,039,823
152 235 227 235 227 05/15/98 01/01/18 -
153 120 115 360 355 08/31/98 09/01/08 2,194,296
154 120 115 300 295 08/04/98 09/01/08 2,019,639
155 120 114 360 354 07/21/98 08/01/08 2,192,578
156 120 111 360 351 04/24/98 05/01/08 2,178,127
157 120 112 300 292 05/07/98 06/01/08 2,023,434
158 180 175 180 175 08/12/98 09/01/13 -
159 120 115 300 295 08/07/98 09/01/08 2,007,897
160 120 115 300 295 08/26/98 09/01/08 1,949,431
161 234 228 274 268 07/31/98 02/01/18 657,632
162 240 235 293 288 09/01/98 09/01/18 777,285
163 180 172 360 352 05/07/98 06/01/13 1,854,142
164 240 233 240 233 06/19/98 07/01/18 99,032
165 180 174 180 174 07/20/98 08/01/13 45,667
166 239 230 239 230 04/15/98 04/01/18 -
167 264 256 315 307 05/29/98 06/01/20 719,996
168 120 114 300 294 07/23/98 08/01/08 1,887,756
169 237 232 237 232 08/27/98 06/01/18 -
170 120 117 360 357 10/30/98 11/01/08 2,023,310
171 120 116 360 356 09/16/98 10/01/08 2,000,825
172 120 111 264 255 04/07/98 05/01/08 1,723,173
173 264 256 325 317 05/21/98 06/01/20 804,999
174 120 112 360 352 05/29/98 06/01/08 1,982,404
175 120 115 360 355 08/31/98 09/01/08 1,904,746
176 120 111 360 351 04/14/98 05/01/08 1,895,018
177 120 113 360 353 06/24/98 07/01/08 1,832,500
178 121 115 300 294 07/30/98 09/01/08 1,701,539
179 120 115 360 355 08/14/98 09/01/08 1,787,881
180 120 115 360 355 08/06/98 09/01/08 1,781,930
181 120 116 300 296 09/29/98 10/01/08 1,555,478
182 120 114 360 354 07/29/98 08/01/08 1,753,711
183 120 115 300 295 08/25/98 09/01/08 1,600,858
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
144 CTL - Retail L(4),D(17.83) 219,844 219,844
145 CTL - Hospitality L(2)YM2.5%(16) Steps 215,319
146 Retail - Anchored L(4),D(5.75),O(.25) 223,009 292,169
147 Multifamily - Conventional L(4),D(10.75),O(.25) 208,012 282,923
148 CTL - Retail L(4),D(18) 211,702 211,702
149 Multifamily - Conventional L(4),D(10),O(1) 206,966 292,500
150 Multifamily - Conventional L(4),D(5.75),O(.25) 197,252 269,522
151 Hospitality - Limited Service L(4),D(5.75),O(.25) 216,274 299,637
152 CTL - Retail L(6), YM1%(13.58) 241,614 242,339
153 Multifamily - Conventional L(4),D(5.75),O(.25) 200,868 242,190
154 Retail - Unanchored L(3),D(6.75),O(.25) 215,719 273,669
155 Multifamily - Conventional L(2.33),D(6.92),O(.75) 200,831 250,989
156 Multifamily - Conventional L(2.58),D(6.67),O(.75) 198,584 304,418
157 Retail - Anchored L(4),D(6) 219,264 285,964
158 Retail - Anchored L(4),D(10.75),O(.25) 267,974 564,820
159 Hospitality - Limited Service L(3),D(6.5),O(.5) 218,708 308,118
160 Hospitality - Limited Service L(4),D(5.75),O(.25) 206,691 302,630
161 CTL - Retail L(8),D(11.5) Steps 225,141
162 CTL - Retail L(4),D(16) 204,559 249,562
163 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 195,686 275,227
164 Office L(5),D(14.75),O(.25) 236,433 283,489
165 Office L(3),D(11.75),O(.25) 260,879 351,860
166 CTL - Retail L(3),YM1%(16.92) 223,767 251,738
167 CTL - Retail L(4),D(18) 193,536 193,536
168 Self Storage L(3),D(6.75),O(.25) 201,656 281,541
169 CTL - Retail L(4),D(15.75) Steps 209,395
170 Multifamily - Conventional L(4),D(5.75),O(.25) 183,501 263,152
171 Multifamily - Conventional L(2),D(7.75),O(.25) 179,607 257,480
172 Retail - Anchored L(4),D(5.75),O(.25) 211,276 266,610
173 CTL - Retail L(4),D(18) 187,275 187,275
174 Multifamily - Conventional L(3),D(6.75),O(.25) 187,145 248,480
175 Multifamily - Conventional L(3),D(6.75),O(.25) 174,363 226,789
176 Healthcare - Assisted Living L(5),D(4.75),O(.25) 175,032 248,716
177 Multifamily - Conventional L(2.42),D(7.33),O(.25) 167,826 231,732
178 Hospitality - Limited Service L(4),D(5.83),O(.25) 186,226 274,678
179 Multifamily - Conventional L(4),D(5.75),O(.25) 163,664 202,565
180 Multifamily - Conventional L(2),D(7.75),O(.25) 161,604 246,982
181 Multifamily - Conventional L(3),D(6.75),O(.25) 156,471 206,913
182 Multifamily - Conventional L(4),D(5.75),O(.25) 162,909 213,911
183 Retail - Unanchored L(3),D(6.75),O(.25) 169,933 239,749
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
144 1.00 2,870,000 04/24/98 91.6 28.2 1998
145 1.00 2,770,000 03/17/98 94.5 31.2 NA 1973 1995
146 1.31 3,500,000 08/04/98 74.0 59.7 1976 1976
147 1.36 3,950,000 03/26/98 64.9 50.2 1976 1996
148 1.00 2,600,000 04/21/98 98.5 35.0 1998
149 1.41 3,200,000 04/23/98 79.6 61.6 1970
150 1.37 3,600,000 10/27/97 70.6 61.3 1952
151 1.39 3,400,000 04/27/98 74.6 60.0 59.37 1971 1997
152 1.00 2,905,000 03/24/98 86.3 0.0 1997 1998
153 1.21 3,200,000 07/21/98 78.4 68.6 1979
154 1.27 3,500,000 05/28/98 71.5 57.7 1975 1988
155 1.25 3,600,000 06/09/98 69.5 60.9 1969 1994
156 1.53 3,125,000 04/03/98 79.5 69.7 1972 1991
157 1.30 3,400,000 04/06/98 72.9 59.5 1987
158 2.11 6,700,000 07/01/98 36.7 0.0 1979 1998
159 1.41 3,300,000 05/05/98 74.6 60.9 57.40 1981 1997
160 1.46 3,250,000 04/27/98 74.6 60.0 47.54 1984
161 1.09 2,600,000 04/20/98 92.9 25.3 1998
162 1.22 3,030,000 05/12/98 79.3 25.7 1998
163 1.41 3,000,000 03/25/98 79.6 61.8 1973
164 1.20 3,200,000 10/06/97 74.1 3.1 1998
165 1.35 5,000,000 04/03/98 47.1 0.9 1993
166 1.13 2,870,000 03/11/98 82.2 0.0 1998
167 1.00 2,400,000 04/21/98 97.5 30.0 1998
168 1.40 4,100,000 06/03/98 56.9 46.0 1974 1995
169 1.00 2,500,000 08/11/98 93.0 0.0 1998
170 1.43 3,100,000 07/30/98 74.9 65.3 1988
171 1.43 3,080,000 08/18/98 74.8 65.0 1970 1986
172 1.26 3,100,000 01/21/98 73.9 55.6 1983 1993
173 1.00 2,300,000 03/28/98 98.5 35.0 1998
174 1.33 2,810,000 01/30/98 79.6 70.6 1969 1997
175 1.30 2,730,000 07/21/98 79.7 69.8 1977 1998
176 1.42 3,000,000 03/16/98 71.7 63.2 1994
177 1.38 2,625,000 06/09/98 79.6 69.8 1978 1994
178 1.47 3,000,000 04/30/98 69.6 56.7 61.00 1997
179 1.24 2,700,000 04/07/98 75.7 66.2 1967
180 1.53 3,275,000 06/18/98 62.4 54.4 1960 1996
181 1.32 3,800,000 07/01/98 52.4 40.9 1965
182 1.31 2,500,000 11/25/97 79.7 70.2 1981
183 1.41 2,900,000 06/12/98 68.6 55.2 1990
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
144 10,752 Sq. Ft. 244.47 100.0 05/21/98 0.00 Sq. Ft.
145 113 Rooms 23,157.85 NA NA NA Room
146 113,348 Sq. Ft. 22.84 96.8 08/12/98 0.10 Sq. Ft.
147 190 Units 13,497.37 92.5 04/30/98 250.00 Unit
148 10,752 Sq. Ft. 238.18 100.0 05/21/98 0.00 Sq. Ft.
149 72 Units 35,359.02 98.7 04/01/98 251.00 Unit
150 188 Units 13,511.69 100.0 08/11/98 466.00 Unit
151 72 Rooms 35,216.26 68.4 NA 4.00 % of Gross Revenue Room
152 13,905 Sq. Ft. 180.26 100.0 05/15/98 0.30 Sq. Ft.
153 152 Units 16,493.71 89.0 07/01/98 211.00 Unit
154 31,917 Sq. Ft. 78.36 92.1 08/21/98 0.16 Sq. Ft.
155 101 Units 24,776.86 98.0 07/02/98 286.00 Unit
156 82 Units 30,291.33 98.0 03/17/98 250.00 Unit
157 63,462 Sq. Ft. 39.06 95.9 09/04/98 0.38 Sq. Ft.
158 109,752 Sq. Ft. 22.41 100.0 07/01/98 0.10 Sq. Ft.
159 98 Rooms 25,124.21 60.6 NA 4.00 % of Gross Revenue Room
160 72 Rooms 33,655.69 74.8 NA 4.00 % of Gross Revenue Room
161 10,908 Sq. Ft. 221.50 100.0 03/25/98 0.15 Sq. Ft.
162 13,905 Sq. Ft. 172.69 100.0 09/01/98 0.20 Sq. Ft.
163 119 Units 20,059.01 97.0 04/21/98 250.00 Unit
164 22,528 Sq. Ft. 105.32 100.0 08/01/97 0.10 Sq. Ft.
165 51,898 Sq. Ft. 45.40 98.9 07/21/98 0.25 Sq. Ft.
166 13,905 Sq. Ft. 169.56 100.0 04/15/98 0.30 Sq. Ft.
167 10,752 Sq. Ft. 217.65 100.0 05/29/98 0.00 Sq. Ft.
168 452 Units 5,164.99 90.7 05/01/98 25.98 Unit
169 10,908 Sq. Ft. 213.08 100.0 07/14/98 0.30 Sq. Ft.
170 50 Units 46,455.07 100.0 10/19/98 250.00 Unit
171 80 Units 28,790.84 96.3 09/03/98 317.00 Unit
172 49,761 Sq. Ft. 46.02 100.0 08/01/98 0.42 Sq. Ft.
173 11,060 Sq. Ft. 204.83 100.0 05/21/98 0.00 Sq. Ft.
174 111 Units 20,148.60 99.0 04/17/98 346.00 Unit
175 140 Units 15,544.47 100.0 07/01/98 250.00 Unit
176 54 Beds 39,845.66 100.0 08/01/98 250.00 Bed
177 128 Units 16,326.86 98.0 05/07/98 253.00 Unit
178 54 Rooms 38,651.49 65.2 NA 4.00 % of Gross Revenue Room
179 72 Units 28,370.87 97.0 08/04/98 451.00 Unit
180 90 Units 22,694.12 98.0 07/01/98 250.00 Unit
181 107 Units 18,594.53 97.2 07/01/98 276.00 Unit
182 96 Units 20,750.22 100.0 07/21/98 276.00 Unit
183 39,556 Sq. Ft. 50.28 91.7 05/07/98 0.48 Sq. Ft.
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
144 Rite Aid of Delaware 10,752 05/31/20
145 Motel 6 30,227 05/31/16
146 Big Lots 22,484 01/31/09 J. C. Penney 18,560
147
148 Rite Aid of Kentucky 10,752 05/31/20
149
150
151
152 Walgreen Company 13,905 01/31/18
153
154 Petco 10,275 09/30/03 Leyden Family Services 2,931
155
156
157 Food Lion # 522 36,162 10/24/08 Provine Studios 4,200
158 K-Mart 109,752 01/31/13
159
160
161 Eckerd 10,908 03/24/18
162 Walgreen Company 13,905 09/30/18
163
164 Comcast Cable Communications 22,528 04/01/13
165 Allstate Insurance Company 28,861 09/21/03 Mid Atlantic Medical Services 4,152
166 Walgreen Company 13,905 04/30/18
167 Rite Aid of Kentucky 10,752 05/31/20
168 Paul Jardin of USA 20,685 12/31/00
169 Eckerd 10,908 07/13/18
170
171
172 Jitney-Jungle Stores of America 49,761 03/31/10
173 Rite Aid of Oregon 11,060 05/31/20
174
175
176
177
178
179
180
181
182
183 Evergreen Restaurant 8,800 02/25/00 Parent Teacher Store 4,012
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
2nd 3rd 3rd
Largest Largest Largest
Tenant Tenant Tenant
Lease Area Lease
Expiration Leased Expiration
Order Date 3rd Largest Tenant Name (Sq. Ft.) Date
- -----------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C>
144
145
146 08/31/03 Beall's 15,400 01/31/05
147
148
149
150
151
152
153
154 07/01/01 Bedding Experts 2,430 01/01/00
155
156
157 07/31/00 Zoom-Rent-to-Own 3,850 04/30/03
158
159
160
161
162
163
164
165 11/30/00 Prudential Insurance Co. 3,740 02/28/99
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183 05/31/02 TN Sports Fan 3,200 09/30/00
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
184 9822072 1025 W. St. Georges Avenue 1025 W. St. Georges Avenue Linden
185 9822017 Tower Plaza 3401 - 3431 Cox Road Richmond
186 9822045 Marina Shores Shoppes North Great Neck Road Virginia Beach
187 9821011 Hilltop Apartments 908-916 Eastern Avenue, NE Washington
188 9821058 103 Hemenway 103 Hemenway Street Boston
189 9823114 Rite Aid Battle Creek Raymond & E. Michigan Battle Creek
190 9821015 English Garden Apartments 500 West Craighead Road Charlotte
191 9822044 2995 Baseline Office Building 2995 Baseline Rd. Boulder
192 9822056 Grandview Plaza 2740-2760 N. Grandview Odessa
193 9822150 Madison Square Shopping Center 2501-2589 Madison Avenue Montgomery
194 9822003 Hickory Manor 2530 16th Street Hickory
195 9822174 Michigan Marketplace 1183 Manistee Highway Manistee
196 9822070 Comfort Inn Max Meadows Route 2, Box 426B Max Meadows
197 9822041 The Crossings at Akers Mill 3051 Akers Mill Road Atlanta
198 9823099 CVS Columbia Sparkleberry Sparkleberry Lane & Clemson Road Columbia
199 9821020 Santa Barbara Apartments 9955 Club Creek Houston
200 9822004 Haws Memorial Nursing Home 1004 Holiday Lane Fulton
201 9822069 Eckerd Drugstore 2406 Little Rock Road Charlotte
202 9822066 Lake Placid Inn & Conference Center 2165 U.S. 27 Lake Placid
203 9821074 Hilltop House Apartments 1200 N. Queen Street Arlington
204 9823033 CVS York Richland 165 South Richland Avenue York
205 9821018 Pendelton Pines 2305 Pendelton Street Memphis
206 9822092 Piggly Wiggly 535 East Murdock Avenue Oshkosh
207 9823101 CVS Rochester Henrietta 2580 East Henrietta Road Henrietta
208 9821065 Park South Apartments Park South Boulevard Arden
209 9821107 Sprucemont Apartments 257 South 16th St. Philadelphia
210 9822048 Abercorn Street Building 7700 Abercorn Street Savannah
211 9821022 Winterfield 3509 Burner Drive Charlotte
212 9822145 Hazel Mini Storage 6108 Hazel Avenue Orangevale
213 9821156 29 Cornelia Street 29 Cornelia Ave New York
214 9821026 2420 Roswell 2420 Roswell Avenue Charlotte
215 9821044 Ashton Pines/Sugar Mill 115 Colerain Road St. Mary's
216 9822126 Colonial Health Care and Southdale Health Care Centers 3120 N. 21st St. & 3712 Tower Ave. Superior
217 9821016 Little Lotts Creek 14 East Jones Avenue Statesboro
218 9821098 Park Regency Apartments 130 Van Cortlandt Avenue Bronx
219 9821012 Knollwood Apartments 205 Old Hull Road Athens
220 9823097 IHOP Douglasville Douglas Blvd Douglas Blvd & Georgia St Hgwy 5 Douglasville
221 10004 415-417 Davis; 527-529 Fairfax 415-417 Davis; 527-529 Fairfax Radford
222 9821142 Timber Trails 3321 Franklin Street Wisconsin Rapids
223 9821068 The Landings 951-969 Wilcox Street Waupun
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
184 NJ 07036 2,000,000 1,986,860 0.17 93.25
185 VA 23233 1,997,047 1,986,566 0.17 93.42
186 VA 23451 2,000,000 1,985,189 0.17 93.59
187 DC 20019 2,000,000 1,984,777 0.17 93.76
188 MA 02115 1,985,000 1,976,655 0.17 93.93
189 MI 49107 1,973,552 1,954,385 0.17 94.10
190 NC 28206 1,938,000 1,918,261 0.16 94.27
191 CO 80303 1,900,000 1,885,522 0.16 94.43
192 TX 79761 1,850,000 1,841,024 0.16 94.59
193 AL 36107 1,840,000 1,834,651 0.16 94.74
194 NC 28601 1,845,000 1,833,637 0.16 94.90
195 MI 49660 1,800,000 1,795,103 0.15 95.06
196 VA 24360 1,800,000 1,789,012 0.15 95.21
197 GA 30339 1,800,000 1,789,728 0.15 95.36
198 SC 29223 1,807,527 1,783,025 0.15 95.52
199 TX 77036 1,800,000 1,784,388 0.15 95.67
200 KY 42041 1,800,000 1,784,170 0.15 95.82
201 NC 28214 1,700,000 1,692,853 0.15 95.97
202 FL 33852 1,700,000 1,682,719 0.14 96.11
203 VA 22209 Murphy III 1,650,000 1,643,940 0.14 96.25
204 PA 17404 1,649,455 1,623,091 0.14 96.39
205 TN 38114 1,632,000 1,618,772 0.14 96.53
206 WI 54901 1,625,000 1,615,805 0.14 96.67
207 NY 14623 1,613,401 1,600,576 0.14 96.81
208 NC 28704 1,544,000 1,538,888 0.13 96.94
209 PA 19109 1,500,000 1,491,311 0.13 97.07
210 GA 31406 Segall 1,500,000 1,488,430 0.13 97.20
211 NC 28205 1,488,000 1,479,953 0.13 97.33
212 CA 95662 1,470,000 1,461,744 0.13 97.45
213 NY 10014 1,445,000 1,439,804 0.12 97.57
214 NC 28209 1,366,000 1,359,734 0.12 97.69
215 GA 31558 1,350,000 1,343,461 0.12 97.81
216 WI 54880 1,350,000 1,338,704 0.12 97.92
217 GA 30458 1,309,000 1,300,604 0.11 98.03
218 NY 10463 1,300,000 1,295,372 0.11 98.15
219 GA 30603 1,275,000 1,266,614 0.11 98.25
220 GA 30135 1,258,284 1,253,787 0.11 98.36
221 VA 24141 Collegiate 1,235,140 1,232,481 0.11 98.47
222 WI 54494 1,233,000 1,230,486 0.11 98.57
223 WI 53963 1,230,000 1,226,466 0.11 98.68
- --------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
184 7.125 0.042 Actual/360 Amortizing Balloon NA NA
185 7.125 0.042 Actual/360 Amortizing Balloon NA NA
186 7.270 0.042 Actual/360 Amortizing Balloon NA NA
187 7.250 0.042 Actual/360 Amortizing Balloon NA NA
188 7.000 0.142 Actual/360 Amortizing Balloon NA NA
189 7.130 0.042 30/360 Fully Amortizing NA NA
190 7.000 0.042 Actual/360 Fully Amortizing (1) NA NA
191 7.125 0.042 Actual/360 Amortizing Balloon NA NA
192 7.000 0.042 Actual/360 Amortizing Balloon NA NA
193 6.750 0.042 Actual/360 Amortizing Balloon NA NA
194 7.125 0.042 Actual/360 Amortizing Balloon NA NA
195 7.000 0.042 Actual/360 Amortizing Balloon NA NA
196 7.500 0.042 Actual/360 Amortizing Balloon NA NA
197 7.000 0.042 Actual/360 Amortizing Balloon NA NA
198 7.170 0.042 30/360 Fully Amortizing NA NA
199 7.250 0.042 Actual/360 Amortizing Balloon NA NA
200 7.750 0.042 Actual/360 Amortizing Balloon NA NA
201 7.000 0.042 Actual/360 Amortizing Balloon NA NA
202 7.500 0.042 Actual/360 Fully Amortizing (1) NA NA
203 6.875 0.042 Actual/360 Amortizing Balloon NA NA
204 6.900 0.042 30/360 Fully Amortizing NA NA
205 9.125 0.042 30/360 Fully Amortizing NA NA
206 7.000 0.042 Actual/360 Amortizing Balloon NA NA
207 7.000 0.042 30/360 Fully Amortizing NA NA
208 7.875 0.042 Actual/360 Amortizing Balloon NA NA
209 6.875 0.042 Actual/360 Amortizing Balloon NA NA
210 7.063 0.042 Actual/360 Amortizing Balloon NA NA
211 7.210 0.042 Actual/360 Amortizing Balloon NA NA
212 7.040 0.042 Actual/360 Amortizing Balloon NA NA
213 6.960 0.042 Actual/360 Amortizing Balloon NA NA
214 7.210 0.042 Actual/360 Amortizing Balloon NA NA
215 8.625 0.042 30/360 Fully Amortizing NA NA
216 7.625 0.042 Actual/360 Amortizing Balloon NA NA
217 8.375 0.042 30/360 Amortizing Balloon NA NA
218 7.000 0.042 Actual/360 Amortizing Balloon NA NA
219 8.250 0.042 30/360 Amortizing Balloon NA NA
220 7.750 0.042 30/360 Fully Amortizing NA NA
221 6.875 0.042 Actual/360 Amortizing Balloon NA NA
222 8.000 0.042 Actual/360 Amortizing Balloon NA NA
223 8.350 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
184 120 114 300 294 07/09/98 08/01/08 1,606,353
185 117 111 328 322 07/07/98 05/01/08 1,690,735
186 120 113 300 293 06/05/98 07/01/08 1,613,811
187 120 111 330 321 04/16/98 05/01/08 1,693,107
188 120 114 360 354 07/09/98 08/01/08 1,731,442
189 238 233 238 233 08/25/98 07/01/18 -
190 300 291 300 291 04/17/98 05/01/23 106,088
191 120 113 300 293 06/05/98 07/01/08 1,526,296
192 120 113 360 353 06/24/98 07/01/08 1,613,916
193 84 80 360 356 09/24/98 10/01/05 1,686,183
194 120 111 360 351 04/14/98 05/01/08 1,614,923
195 84 80 360 356 09/17/98 10/01/05 1,656,754
196 180 174 300 294 07/31/98 08/01/13 1,169,169
197 120 112 360 352 06/01/98 06/01/08 1,570,119
198 236 227 236 227 05/01/98 01/01/18 -
199 120 112 300 292 05/08/98 06/01/08 1,451,337
200 120 111 300 291 04/29/98 05/01/08 1,473,573
201 120 114 360 354 07/29/98 08/01/08 1,482,847
202 240 234 240 234 07/02/98 08/01/18 64,304
203 120 115 360 355 08/06/98 09/01/08 1,434,235
204 239 231 239 231 05/08/98 05/01/18 -
205 300 291 300 291 05/01/98 05/01/23 -
206 120 115 300 295 08/13/98 09/01/08 1,299,888
207 233 227 233 227 07/28/98 01/01/18 -
208 120 114 360 354 07/15/98 08/01/08 1,376,978
209 120 115 300 295 08/31/98 09/01/08 1,195,207
210 120 113 300 293 06/19/98 07/01/08 1,202,636
211 180 172 360 352 05/07/98 06/01/13 1,149,570
212 120 115 300 295 08/31/98 09/01/08 1,177,363
213 120 115 360 355 08/04/98 09/01/08 1,258,901
214 180 173 360 353 06/08/98 07/01/13 1,055,582
215 360 352 360 352 06/01/98 06/01/28 -
216 120 115 240 235 08/18/98 09/01/08 939,693
217 300 290 360 350 04/01/98 04/01/23 486,370
218 120 115 360 355 08/21/98 09/01/08 1,133,778
219 300 290 360 350 04/01/98 04/01/23 469,628
220 295 290 295 290 08/11/98 04/01/23 -
221 120 117 360 357 10/30/98 11/01/08 1,073,593
222 120 116 360 356 09/30/98 10/01/08 1,102,884
223 216 210 360 354 07/20/98 08/01/16 904,857
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
184 Retail - Unanchored L(3),D(6.75),O(.25) 171,546 253,044
185 Retail - Unanchored L(4),D(5.50),O(.25) 166,093 219,284
186 Retail - Unanchored L(4),D(5.75),O(.25) 173,783 234,293
187 Multifamily - Conventional L(4),D(6) 168,019 249,854
188 Multifamily - Conventional L(3),D(6.75),O(.25) 158,475 244,578
189 CTL - Retail L(4),D(15.83) 186,162 186,721
190 Multifamily - Conventional L(3),D(12),O(10) 164,369 213,158
191 Office L(4),D(5.75),O(.25) 162,968 209,658
192 Retail - Unanchored L(3),D(6.75),O(.25) 147,697 191,987
193 Retail - Anchored L(3),D(3.75),O(.25) 143,210 204,461
194 Healthcare - Assisted Living L(5),D(4.75),O(.25) 149,161 194,116
195 Retail - Anchored L(3),D(3.75),O(.25) 143,705 185,324
196 Hospitality - Limited Service L(4),D(10.75),O(.25) 159,622 233,211
197 Retail - Unanchored L(4),YM1%(5.5),O(0.5) 143,705 216,496
198 CTL - Retail L(4),D(15.67) Steps 164,259
199 Multifamily - Conventional L(3),D(6.75),O(.25) 156,126 201,930
200 Healthcare - Skilled Nursing L(4),D(6), 163,151 346,993
201 Retail - Anchored L(4),D(5.75),O(.25) 135,722 172,399
202 Hospitality - Full Service L(5),D(14.75),O(.25) 164,341 241,749
203 Multifamily - Conventional L(2.25),D(7.5),O(.25) 130,072 158,032
204 CTL - Retail L(8)YM1%(11.92) 152,569 153,027
205 Multifamily - Sec. 42 L(15),O(10) 166,028 199,743
206 Retail - Anchored L(4),D(6) 137,822 178,884
207 CTL - Retail L(6),D(13.41) Steps 140,290
208 Multifamily - Conventional L(3),D(6.75),O(.25) 134,341 165,133
209 Multifamily - Conventional L(3),D(6.75),O(.25) 125,789 201,045
210 Retail - Unanchored L(4),D(5.75),O(.25) 127,939 168,658
211 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 121,325 151,775
212 Self Storage L(4),D(5.75),O(.25) 125,126 175,918
213 Multifamily - Conventional L(4),D(5.75),O(.25) 114,898 143,735
214 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 111,378 142,019
215 Multifamily - Sec. 42 L(10),O(20) 126,002 145,089
216 Healthcare - Skilled Nursing L(3),D(6.75),O(.25) 131,747 197,974
217 Multifamily - Sec. 42 L(15),O(10) 119,392 144,342
218 Multifamily - Conventional L(3),D(6.75),O(.25) 103,787 137,689
219 Multifamily - Sec. 42 L(10),O(15) 114,944 133,563
220 CTL - Retail L(4),D(20.58) Steps 118,988
221 Multifamily - Conventional L(4),D(5.75),O(.25) 97,368 142,102
222 Multifamily - Sec. 42 L(3),D(6.5),O(.5) 108,568 124,882
223 Multifamily - Sec. 42 L(15),O(3) 111,926 128,245
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
184 1.48 4,900,000 04/01/98 40.6 32.8 1950 1986
185 1.32 2,725,000 03/09/98 72.9 62.1 1990
186 1.35 2,650,000 04/28/98 74.9 60.9 1995
187 1.49 2,770,000 03/06/98 71.7 61.1 1966
188 1.54 3,000,000 06/10/98 65.9 57.7 1910 1987
189 1.00 2,100,000 07/23/98 93.1 0.0 1998
190 1.30 2,500,000 03/16/98 76.7 4.2 1965
191 1.29 2,600,000 03/08/98 72.5 58.7 1974
192 1.30 2,350,000 05/04/98 78.3 68.7 1970 1997
193 1.43 2,300,000 06/16/98 79.8 73.3 1987
194 1.30 2,465,000 03/19/98 74.4 65.5 1994
195 1.29 2,400,000 07/22/98 74.8 69.0 1979 1993
196 1.46 2,500,000 05/05/98 71.6 46.8 47.72 1988 1993
197 1.51 2,250,000 04/01/98 79.5 69.8 1998
198 1.02 1,860,000 04/30/98 95.9 0.0 1997
199 1.29 2,400,000 04/08/98 74.4 60.5 1976
200 2.13 3,300,000 03/11/98 54.1 44.7 1971
201 1.27 2,170,000 06/25/98 78.0 68.3 1998
202 1.47 2,300,000 05/22/98 73.2 2.8 35.25 1970 1993
203 1.21 2,125,000 06/18/98 77.4 67.5 1961 1996
204 1.00 1,680,000 01/22/98 96.6 0.0 1998
205 1.20 2,000,000 02/17/98 80.9 0.0 1965 1996
206 1.30 2,080,000 03/23/98 77.7 62.5 1995
207 1.02 1,620,000 05/01/98 98.8 0.0 1997
208 1.23 1,930,000 05/06/98 79.7 71.4 1996
209 1.60 2,300,000 03/19/98 64.8 52.0 1917
210 1.32 2,000,000 04/24/98 74.4 60.1 1976
211 1.25 1,930,000 03/25/98 76.7 59.6 1967
212 1.41 2,250,000 07/06/98 65.0 52.3 1988
213 1.25 2,050,000 03/13/98 70.2 61.4 1903 1997
214 1.28 2,000,000 03/25/98 68.0 52.8 1965
215 1.15 1,650,000 04/29/98 81.4 0.0 1997
216 1.50 2,200,000 07/14/98 60.9 42.7 1958; 1962 1983; 1994
217 1.21 1,670,000 03/16/98 77.9 29.1 1996
218 1.33 1,900,000 06/26/98 68.2 59.7 1965
219 1.16 1,500,000 03/18/98 84.4 31.3 1996
220 1.10 1,320,000 11/23/97 95.0 0.0 1998
221 1.46 1,674,000 07/30/98 73.6 64.1 1960
222 1.15 1,450,000 07/29/98 84.9 76.1 1996
223 1.15 1,600,000 12/11/97 76.7 56.6 1996
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
184 43,114 Sq. Ft. 46.08 93.9 09/09/98 0.26 Sq. Ft.
185 22,600 Sq. Ft. 87.90 100.0 09/01/98 0.10 Sq. Ft.
186 30,000 Sq. Ft. 66.17 90.0 07/01/98 0.10 Sq. Ft.
187 106 Units 18,724.31 92.0 04/16/98 287.00 Unit
188 17 Units 116,273.84 100.0 05/13/98 250.00 Unit
189 11,060 Sq. Ft. 176.71 100.0 08/25/98 0.30 Sq. Ft.
190 119 Units 16,119.84 94.2 02/18/98 250.00 Unit
191 24,136 Sq. Ft. 78.12 80.0 01/01/98 0.10 Sq. Ft.
192 64,450 Sq. Ft. 28.57 100.0 08/19/98 0.10 Sq. Ft.
193 28,200 Sq. Ft. 65.06 100.0 09/11/98 0.10 Sq. Ft.
194 58 Beds 31,614.42 96.5 08/01/98 250.00 Bed
195 52,338 Sq. Ft. 34.30 87.7 09/24/98 0.14 Sq. Ft.
196 60 Rooms 29,816.87 64.0 NA 4.50 % of Gross Revenue Room
197 10,007 Sq. Ft. 178.85 100.0 12/23/97 0.10 Sq. Ft.
198 10,125 Sq. Ft. 176.10 100.0 06/16/97 0.30 Sq. Ft.
199 175 Units 10,196.50 94.0 02/01/98 251.43 Unit
200 60 Beds 29,736.17 98.0 02/19/98 250.00 Bed
201 10,908 Sq. Ft. 155.19 100.0 09/01/98 0.10 Sq. Ft.
202 98 Rooms 17,170.61 54.5 NA 5.00 % of Gross Revenue Room
203 49 Units 33,549.79 100.0 07/01/98 250.00 Unit
204 10,125 Sq. Ft. 160.31 100.0 05/29/98 0.30 Sq. Ft.
205 182 Units 8,894.35 89.4 04/27/98 250.00 Unit
206 29,320 Sq. Ft. 55.11 100.0 NA 0.17 Sq. Ft.
207 10,141 Sq. Ft. 157.83 100.0 05/12/97 0.30 Sq. Ft.
208 34 Units 45,261.41 100.0 06/30/98 250.00 Unit
209 60 Units 24,855.19 98.0 08/04/98 259.00 Unit
210 40,267 Sq. Ft. 36.96 100.0 07/01/98 0.10 Sq. Ft.
211 71 Units 20,844.42 97.0 04/21/98 250.00 Unit
212 414 Units 3,530.78 85.0 06/01/98 11.00 Unit
213 26 Units 55,377.08 96.2 08/03/98 262.00 Unit
214 32 Units 42,491.70 97.0 04/21/98 300.00 Unit
215 70 Units 19,192.30 95.8 04/01/98 250.00 Unit
216 92 Beds 14,551.13 83.7 07/14/98 250.00 Bed
217 72 Units 18,063.95 100.0 02/24/98 250.00 Unit
218 47 Units 27,561.11 100.0 08/01/98 251.00 Unit
219 64 Units 19,790.84 100.0 02/19/98 250.00 Unit
220 4,979 Sq. Ft. 251.82 100.0 04/07/98 0.00 Sq. Ft.
221 27 Units 45,647.46 100.0 10/19/98 250.00 Unit
222 64 Units 19,226.35 95.1 05/05/98 250.00 Unit
223 64 Units 19,163.53 95.1 07/06/98 200.00 Unit
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
184 Blockbuster 8,767 11/30/00 Dicosmo's Dairy 4,800
185 El Paso Mexican Restaurant 4,650 12/01/02 Duron, Inc. 3,000
186 West Marine 6,000 03/01/05 Moovies 4,500
187
188
189 Rite Aid of Michigan, Inc. 11,060 08/16/18
190
191 Geomega 8,276 10/01/01 Arbor Medical 4,344
192 Kentuckiana Restaurants dba Gatti's 25,200 04/30/05 G.B.I. Inc. dba Video One 8,500
193 CVS (Revco) 8,500 09/01/02 The Crate 3,000
194
195 Prevo's 27,388 07/31/09 Rite Aid 8,950
196
197 Jos A. Bank 4,000 03/01/08 AT&T Wireless PCS, Inc. (Powertel) 2,017
198 CVS Corporation 10,125 01/31/18
199
200
201 Eckerd 10,908 06/01/18
202
203
204 White Cross Stores, Inc. 10,125 05/31/18
205
206 Piggly Wiggly 29,320 12/23/14
207 Henrietta CVS, Inc 10,141 01/31/18
208
209
210 Perrie-Swan Sales (Audio Warehouse) 15,307 01/14/04 Par 3 (Bonaventure Golf) Golf, Inc. 13,920
211
212
213
214
215
216
217
218
219
220 IHOP Properties, Inc. 4,979 04/30/23
221
222
223
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
2nd 3rd 3rd
Largest Largest Largest
Tenant Tenant Tenant
Lease Area Lease
Expiration Leased Expiration
Order Date 3rd Largest Tenant Name (Sq. Ft.) Date
- -----------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C>
184 10/14/00 PJ's Billiards 4,800 05/31/01
185 03/31/03 2.99 One Price Cleaners 2,600 08/30/03
186 03/01/04 Taphouse Brewery 3,000 10/01/02
187
188
189
190
191 04/30/01 Mental Health 4,344 02/01/99
192 08/01/01 Dolgen Corp of Texas dba Dollar General 8,000 08/01/99
193 09/01/01 Associates Financial Services 2,250 08/01/00
194
195 07/01/09 Fashion Bug 8,000 02/01/04
196
197 04/03/03 Professional Cleaners 2,000 06/01/03
198
199
200
201
202
203
204
205
206
207
208
209
210 09/14/00 E&B Marine (West Marine) Supply, Inc. 11,040 10/31/03
211
212
213
214
215
216
217
218
219
220
221
222
223
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION COMMERCIAL MORTGAGE TRUST, FUNB SERIES 1999-C1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
ANNEX A-1
Control
Order Number Property Name Address City
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
224 9821072 825 & 835 Wisconsin Avenue 825 & 835 Wisconsin Avenue Oshkosh
225 9822001 Gastonia Village 850 Majestic Court Gastonia
226 9823118 Sears Union Center Island 2191 Route 22 Center Island Union
227 9822058 Oak Knoll Nursing & Rehab Center 37 North Clark Ferguson
228 9821059 Vista Bonita Apartments 9313 Tally Ho Road Houston
229 9821013 Azalea Apartments 431 Block Craighead Road Charlotte
230 20007 CVS/Revco Drugstore West Main Street Haw River
231 9821056 Rene Village 606 SE Rene Ave Gresham
232 9821076 Vandermere Mobile Home Park Old Pactolus Road Greenville
233 9821042 Ashton Pointe/Evergreen 400 Plaza Trace Monroe
234 9822046 925 Bryant Street 925 Bryant Street San Francisco
235 9821069 Scarborough Mews 5th & Orange Streets Media
236 10003 131-133 Norwood Street 131-133 Norwood Street Radford
237 9821007 Convent Ave. 90-100 Convent Avenue New York
238 9821023 Sharon Arms 4313 Colwick Road Charlotte
- ----------------------------------------------------------------------------------------------------------------------------------
Total
<CAPTION>
Cumulative
% of % of
Cross Aggregate Aggregate
Collateralized Original Cut-Off Date Cut-Off Date Cut-Off Date
Order State Zip Code Groups Balance $ Balance $ Balance Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
224 WI 54901 1,175,000 1,170,219 0.10 98.78
225 NC 28054 1,175,000 1,167,763 0.10 98.88
226 NJ 07081 1,168,727 1,154,724 0.10 98.98
227 MO 63135 1,155,000 1,147,437 0.10 99.08
228 TX 77017 1,150,000 1,145,165 0.10 99.18
229 NC 28206 1,143,000 1,131,358 0.10 99.27
230 NC 27258 1,125,000 1,121,622 0.10 99.37
231 OR 97030 1,100,000 1,096,206 0.09 99.46
232 NC 27834 1,000,000 994,603 0.09 99.55
233 GA 30655 992,000 987,344 0.08 99.63
234 CA 94103 975,000 967,929 0.08 99.72
235 PA 19063 880,000 876,301 0.08 99.79
236 VA 24141 Collegiate 855,097 853,256 0.07 99.87
237 NY 10027 800,000 795,232 0.07 99.93
238 NC 28211 768,000 763,847 0.07 100.00
- ---------------------------------------------------------------------------------------------------------------------------
$ 1,163,518,250
<CAPTION>
Interest Original Remaining
Mortgage Administrative Accrual Interest-Only Interest-Only
Order Rate (%) Cost Rate (%) Basis Amortization Type Period (Mos.) Period (Mos.)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
224 7.125 0.042 Actual/360 Amortizing Balloon NA NA
225 7.125 0.042 Actual/360 Amortizing Balloon NA NA
226 7.000 0.042 30/360 Fully Amortizing NA NA
227 7.875 0.042 Actual/360 Amortizing Balloon NA NA
228 7.000 0.042 Actual/360 Amortizing Balloon NA NA
229 7.000 0.042 Actual/360 Fully Amortizing (1) NA NA
230 6.625 0.042 Actual/360 Amortizing Balloon NA NA
231 7.125 0.042 Actual/360 Amortizing Balloon NA NA
232 7.250 0.092 Actual/360 Amortizing Balloon NA NA
233 8.780 0.042 30/360 Fully Amortizing NA NA
234 7.375 0.042 Actual/360 Amortizing Balloon NA NA
235 7.000 0.042 Actual/360 Amortizing Balloon NA NA
236 6.875 0.042 Actual/360 Amortizing Balloon NA NA
237 7.250 0.042 Actual/360 Amortizing Balloon NA NA
238 7.210 0.042 Actual/360 Amortizing Balloon NA NA
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Original Remaining
Term to Term to Original Remaining
Maturity Maturity Amortization Amortization Origination Maturity Balloon
Order (Mos.) (Mos.) Term (Mos.) Term (Mos.) Date Date Balance ($)
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
224 120 114 360 354 07/30/98 08/01/08 1,028,292
225 120 111 360 351 04/14/98 05/01/08 1,028,475
226 180 175 180 175 09/15/98 09/01/13 -
227 120 113 300 293 06/26/98 07/01/08 948,976
228 120 114 360 354 07/09/98 08/01/08 1,003,102
229 300 291 300 291 04/17/98 05/01/23 62,566
230 120 116 360 356 09/22/98 10/01/08 971,358
231 120 115 360 355 08/03/98 09/01/08 962,513
232 120 115 300 295 08/13/98 09/01/08 806,125
233 360 352 360 352 06/01/98 06/01/28 -
234 120 113 300 293 06/16/98 07/01/08 789,253
235 180 174 360 354 07/16/98 08/01/13 673,382
236 120 117 360 357 10/30/98 11/01/08 743,256
237 120 111 360 351 04/17/98 05/01/08 702,523
238 180 172 360 352 05/07/98 06/01/13 593,327
- -----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Annual
Debt Service Net Cash
Order Property Type Prepayment Provisions ($)(3) Flow (5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
224 Multifamily - Conventional L(2.75),D(6.75),O(.50) 94,994 137,356
225 Healthcare - Assisted Living L(5),D(4.75),O(.25) 94,994 157,695
226 CTL - Retail L(8),YM1%(7) Steps 120,780
227 Healthcare - Skilled Nursing L(4),D(5.75),O(.25) 105,829 214,161
228 Multifamily - Conventional L(4),D(5.75),O(.25) 91,812 117,145
229 Multifamily - Conventional L(3),D(12),O(10) 96,942 141,679
230 Retail - Anchored L(3),D(6.75),O(.25) 86,442 126,740
231 Multifamily - Conventional L(4),D(5.75),O(.25) 88,931 115,103
232 Mobile Home Park L(3),D(6.75),O(.25) 86,737 109,194
233 Multifamily - Sec. 42 L(10),O(20) 93,904 110,260
234 Retail - Unanchored L(4),YM1%(6) 85,513 107,618
235 Multifamily - Conventional L(2),D(12.75),O(.25) 70,256 90,904
236 Multifamily - Conventional L(4),D(5.75),O(.25) 67,409 94,735
237 Multifamily - Conventional L(3),D(6.75),O(.25) 65,489 85,505
238 Multifamily - Conventional L(4),YM1%(10.75),O(.25) 62,619 115,804
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Scheduled Underwritten
Cut-Off Maturity Hospitality
Appraised Appraisal Date LTV Date LTV Average Daily Year
Order DSCR (x) Value (5) Date (%) (%)(4) Rate (5)(6) Year Built Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
224 1.45 1,740,000 04/02/98 67.3 59.1 1994
225 1.66 2,043,000 03/16/98 57.2 50.3 1988 1991
226 1.05 1,420,000 01/22/98 81.3 0.0 1998
227 2.02 1,650,000 05/07/98 69.5 57.5 1900 1978
228 1.28 1,650,000 05/18/98 69.4 60.8 1964 1997
- ----------------------------------------------------------------------------------------------------------------------------------
229 1.46 1,475,000 03/16/98 76.7 4.2 1967
230 1.47 1,525,000 08/31/98 73.6 63.7 1997
231 1.29 1,400,000 02/04/98 78.3 68.8 1981
232 1.26 1,395,000 06/08/98 71.3 57.8 1990
233 1.17 1,220,000 05/01/98 80.9 0.0 1997
- ----------------------------------------------------------------------------------------------------------------------------------
234 1.26 1,315,000 05/06/98 73.6 60.0 1963 1991
235 1.29 1,100,000 03/24/98 79.7 61.2 1972
236 1.41 1,116,000 07/30/98 76.5 66.6 1990
237 1.31 1,100,000 04/02/98 72.3 63.9 1920 1986
238 1.85 960,000 03/25/98 79.6 61.8 1961
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Number of Loan Per
Sq, Ft, Sq. Ft.,
Units, Unit, Bed, Occupancy
Beds, Pads Unit of Pad or Percentage Rent Roll Underwritten Replacement
Order or Rooms Measure Room (5) (%) Date Reserves Per
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
224 24 Units 48,759.12 95.0 09/01/98 600.00 Unit
225 38 Beds 30,730.61 91.0 08/01/98 250.00 Bed
226 12,000 Sq. Ft. 96.23 100.0 09/01/98 0.00 Sq. Ft.
227 60 Beds 19,123.94 66.7 04/24/98 250.00 Bed
228 144 Units 7,952.54 83.0 04/01/98 250.00 Unit
- ------------------------------------------------------------------------------------------------------------------------------------
229 66 Units 17,141.79 98.0 04/16/98 289.00 Unit
230 10,722 Sq. Ft. 104.61 100.0 01/00/00 0.10 Sq. Ft.
231 31 Units 35,361.49 93.5 07/28/98 250.00 Unit
232 124 Pads 8,020.99 99.0 07/02/98 30.00 Pad
233 48 Units 20,569.67 100.0 03/31/98 250.00 Unit
- ------------------------------------------------------------------------------------------------------------------------------------
234 13,125 Sq. Ft. 73.75 100.0 12/05/97 0.30 Sq. Ft.
235 15 Units 58,420.04 97.0 12/31/97 262.32 Unit
236 18 Units 47,403.13 100.0 10/19/98 250.00 Unit
237 74 Units 10,746.38 100.0 03/30/98 310.00 Unit
238 32 Units 23,870.22 97.0 04/21/98 250.00 Unit
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Largest 2nd
Largest Tenant Largest
Tenant Lease Tenant
Area Leased Expiration Area Leased
Order Largest Tenant Name (Sq. Ft.) Date 2nd Largest Tenant Name (Sq. Ft.)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
224
225
226 Sears, Roebuck and Co. 12,000 07/09/13
227
228
- ------------------------------------------------------------------------------
229
230 CVS / Revco Drugstore 10,722 11/01/17
231
232
233
- ------------------------------------------------------------------------------
234 Georgiou Retail Stores 13,125 06/01/08
235
236
237
238
- ------------------------------------------------------------------------------
<FN>
(1) Fully Amortizing loans which accrue interest on an Actual/360 basis will have a final balloon payment as indicated by the
Balloon Balance. For the loans in this pool, this balloon payment represents no more than 8% of original property value.
(2) During the initial Interest-Only period, interest accrues on a 30/360 basis accrual basis.
(3) Each Mortgage Loan described by "Steps" under Annual Debt Service is subject to specified periodic changes in the amount of
debt payments at specified times in the future. Refer to the worksheet named "A-2 Step" in the file "FUNB99C1.XLS" for these.
(4) With respect to Credit Lease Loans which are also Balloon Loans, each such loan has benefit of a residual value insurance
policy. The related Balloon Payments may be repaid from the amount paid by the related insurer pursuant to such policies.
(5) Cut-Off LTV and DSCR for this loan assumes application of a $780,000 letter of credit, which is being held as additional
collateral for the loan.
(6) Underwritten ADR is not applicable to CTL loans.
(7) Lease renewal currently under negotiation; if lease is not renewed the occupancy percentage will be reduced to 78.7%.
(8) Lease renewal currently under negotiation; if lease is not renewed the occupancy percentage will be reduced to 93.0%.
</FN>
</TABLE>
<PAGE>
<TABLE>
ANNEX A-2 DEBT SERVICE PAYMENT SCHEDULES FOR CERTAIN CREDIT LEASE LOANS
<CAPTION>
MOTEL 6 1118 MOTEL 6 1261 MOTEL 6 1273
CVS WALTHAM MAIN EDWARD SUPERMARKET AUSTIN AP(1) HOUSTON - SPRING(1) PORTLAND(1)
9823000 9823035 9823042 9823054 9823069
MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 $ 28,198.57 1 $ 55,502.04 1 $ - 1 $ - 1 $ -
120 $ 30,260.06 60 $ 61,359.86 6 $ 480,255.82 6 $ 280,729.25 6 $ 377,399.10
120 $ 63,874.51 7 $ - 7 $ - 7 $ -
180 $ 71,131.01 12 $ 385,566.99 12 $ 225,379.74 12 $ 302,989.84
239 $2,966,950.01 13 $ - 13 $ - 13 $ -
18 $ 300,261.01 18 $ 175,514.89 18 $ 235,953.91
19 $ - 19 $ - 19 $ -
24 $ 277,080.99 24 $ 161,965.22 24 $ 217,738.37
25 $ - 25 $ - 25 $ -
30 $ 304,022.29 30 $ 177,713.51 30 $ 238,909.62
31 $ - 31 $ - 31 $ -
36 $ 274,150.33 36 $ 160,252.13 36 $ 215,435.37
37 $ - 37 $ - 37 $ -
42 $ 302,799.90 42 $ 176,998.98 42 $ 237,949.04
43 $ - 43 $ - 43 $ -
48 $ 273,611.60 48 $ 159,937.21 48 $ 215,012.01
49 $ - 49 $ - 49 $ -
54 $ 312,144.24 54 $ 182,461.12 54 $ 245,292.09
55 $ - 55 $ - 55 $ -
60 $ 266,482.37 60 $ 155,769.89 60 $ 209,409.65
61 $ - 61 $ - 61 $ -
66 $ 308,197.94 66 $ 180,154.35 66 $ 242,190.98
67 $ - 67 $ - 67 $ -
72 $ 273,353.25 72 $ 159,786.20 72 $ 214,808.99
73 $ - 73 $ - 73 $ -
78 $ 286,704.14 78 $ 167,590.34 78 $ 225,300.51
79 $ - 79 $ - 79 $ -
84 $ 298,966.25 84 $ 174,758.05 84 $ 234,936.44
85 $ - 85 $ - 85 $ -
90 $ 240,495.15 90 $ 140,579.29 90 $ 188,988.14
91 $ - 91 $ - 91 $ -
96 $ 340,943.07 96 $ 199,295.22 96 $ 267,923.06
97 $ - 97 $ - 97 $ -
102 $ 219,679.16 102 $ 128,411.49 102 $ 172,630.32
103 $ - 103 $ - 103 $ -
108 $ 299,641.72 108 $ 175,152.89 108 $ 235,467.25
109 $ - 109 $ - 109 $ -
114 $ 202,017.41 114 $ 118,087.47 114 $ 158,751.20
115 $ - 115 $ - 115 $ -
120 $ 270,253.25 120 $ 157,974.12 120 $ 212,372.93
121 $ - 121 $ - 121 $ -
126 $ 205,695.23 126 $ 120,237.31 126 $ 161,641.34
127 $ - 127 $ - 127 $ -
132 $ 266,379.37 132 $ 155,709.68 132 $ 209,328.72
133 $ - 133 $ - 133 $ -
138 $ 210,549.42 138 $ 123,074.78 138 $ 165,455.91
139 $ - 139 $ - 139 $ -
144 $ 263,088.46 144 $ 153,786.01 144 $ 206,742.62
145 $ - 145 $ - 145 $ -
150 $ 206,023.93 150 $ 120,429.45 150 $ 161,899.64
151 $ - 151 $ - 151 $ -
156 $ 268,588.77 156 $ 157,001.17 156 $ 211,064.93
157 $ - 157 $ - 157 $ -
162 $ 195,649.54 162 $ 114,365.19 162 $ 153,747.14
163 $ - 163 $ - 163 $ -
168 $ 278,610.02 168 $ 162,859.00 168 $ 218,939.92
169 $ - 169 $ - 169 $ -
174 $ 187,394.01 174 $ 109,539.50 174 $ 147,259.71
175 $ - 175 $ - 175 $ -
180 $ 269,292.74 180 $ 157,412.66 180 $ 211,618.13
181 $ - 181 $ - 181 $ -
186 $ 284,575.31 186 $ 166,345.96 186 $ 223,627.62
187 $ - 187 $ - 187 $ -
192 $ 163,752.76 192 $ 95,720.21 192 $ 128,681.72
193 $ - 193 $ - 193 $ -
198 $ 431,908.66 198 $ 252,468.35 198 $ 339,406.49
199 $ - 199 $ - 199 $ -
204 $ 73,552.78 204 $ 42,994.62 204 $ 57,799.93
205 $ - 205 $ - 205 $ -
210 $ 236,441.82 210 $ 138,209.95 210 $ 185,802.91
211 $ - 211 $ - 211 $ -
216 $1,938,020.12 216 $1,132,852.00 216 $1,522,953.01
<CAPTION>
MOTEL 6 352 MOTEL 6 134 MOTEL 6 284 ECKERD IHOP DOUGLASVILLE
RAPID CITY(1) SAN ANTONIO (N)(1) SOUTH DEERFIELD(1) POMPANO SAMPLE DOUGLAS BLVD
9823072 9823074 9823076 9823094 9823097
MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT
- -----------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 $ - 1 $ - 1 $ - 1 $ 17,212.62 1 $ 9,014.25
6 $ 330,997.57 6 $214,220.39 6 $ 269,902.22 55 $ 17,625.43 56 $ 9,225.06
7 $ - 7 $ - 7 $ - 115 $ 18,038.23 116 $ 9,869.32
12 $ 265,736.99 12 $171,983.99 12 $ 216,687.41 175 $ 18,451.03 176 $ 10,395.25
13 $ - 13 $ - 13 $ - 234 $ 676,082.62 236 $ 11,000.04
18 $ 206,943.18 18 $133,932.85 18 $ 168,745.72
19 $ - 19 $ - 19 $ -
24 $ 190,967.26 24 $123,593.29 24 $ 155,718.63
25 $ - 25 $ - 25 $ -
30 $ 209,535.49 30 $135,610.59 30 $ 170,859.55
31 $ - 31 $ - 31 $ -
36 $ 188,947.41 36 $122,286.06 36 $ 154,071.60
37 $ - 37 $ - 37 $ -
42 $ 208,693.01 42 $135,065.34 42 $ 170,172.57
43 $ - 43 $ - 43 $ -
48 $ 188,576.11 48 $122,045.75 48 $ 153,768.84
49 $ - 49 $ - 49 $ -
54 $ 215,133.23 54 $139,233.42 54 $ 175,424.05
55 $ - 55 $ - 55 $ -
60 $ 183,662.57 60 $118,865.73 60 $ 149,762.23
61 $ - 61 $ - 61 $ -
66 $ 212,413.40 66 $137,473.16 66 $ 173,206.25
67 $ - 67 $ - 67 $ -
72 $ 188,398.05 72 $121,930.51 72 $ 153,623.64
73 $ - 73 $ - 73 $ -
78 $ 197,599.63 78 $127,885.74 78 $ 161,126.80
79 $ - 79 $ - 79 $ -
84 $ 206,050.81 84 $133,355.32 84 $ 168,018.07
85 $ - 85 $ - 85 $ -
90 $ 165,751.89 90 $107,274.00 90 $ 135,157.50
91 $ - 91 $ - 91 $ -
96 $ 234,981.70 96 $152,079.28 96 $ 191,608.91
97 $ - 97 $ - 97 $ -
102 $ 151,405.28 102 $97,988.93 102 $ 123,458.98
103 $ - 103 $ - 103 $ -
108 $ 206,516.36 108 $133,656.61 108 $ 168,397.68
109 $ - 109 $ - 109 $ -
114 $ 139,232.61 114 $90,110.83 114 $ 113,533.13
115 $ - 115 $ - 115 $ -
120 $ 186,261.50 120 $120,547.75 120 $ 151,881.46
121 $ - 121 $ - 121 $ -
126 $ 141,767.41 126 $91,751.34 126 $ 115,600.06
127 $ - 127 $ - 127 $ -
132 $ 183,591.58 132 $118,819.78 132 $ 149,704.35
133 $ - 133 $ - 133 $ -
138 $ 145,112.97 138 $93,916.57 138 $ 118,328.10
139 $ - 139 $ - 139 $ -
144 $ 181,323.45 144 $117,351.86 144 $ 147,854.87
145 $ - 145 $ - 145 $ -
150 $ 141,993.95 150 $91,897.95 150 $ 115,784.79
151 $ - 151 $ - 151 $ -
156 $ 185,114.32 156 $119,805.30 156 $ 150,946.02
157 $ - 157 $ - 157 $ -
162 $ 134,843.81 162 $87,270.41 162 $ 109,954.41
163 $ - 163 $ - 163 $ -
168 $ 192,021.07 168 $124,275.32 168 $ 156,577.93
169 $ - 169 $ - 169 $ -
174 $ 129,154.01 174 $83,587.99 174 $ 105,314.83
175 $ - 175 $ - 175 $ -
180 $ 185,599.50 180 $120,119.31 180 $ 151,341.65
181 $ - 181 $ - 181 $ -
186 $ 196,132.42 186 $126,936.17 186 $ 159,930.41
187 $ - 187 $ - 187 $ -
192 $ 112,860.00 192 $73,042.70 192 $ 92,028.53
193 $ - 193 $ - 193 $ -
198 $ 297,676.18 198 $192,654.91 198 $ 242,731.28
199 $ - 199 $ - 199 $ -
204 $ 50,693.38 204 $32,808.57 204 $ 41,336.42
205 $ - 205 $ - 205 $ -
210 $ 162,958.29 210 $105,466.00 210 $ 132,879.54
211 $ - 211 $ - 211 $ -
216 $1,132,852.00 216 $864,463.08 216 $1,089,161.07
<CAPTION>
CVS COLUMBIA CVS ROCHESTER ECKERD-CHARLOTTE-
SPARKLEBERRY HENRIETTA HARRIS BLVD SEARS UNION
9823099 9823101 9823113 9823118
MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT MONTH # PAYMENT
- ----------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C>
1 $ 13,457.97 1 $ 11,518.05 1 $ 17,381.69 1 $ 9,585.71
49 $ 14,143.32 45 $ 12,459.48 58 $ 17,822.50 61 $ 10,736.00
109 $ 14,862.93 105 $ 13,476.22 118 $ 18,263.31 121 $ 12,024.34
169 $ 15,618.52 189 $ 14,574.30 178 $ 18,704.11
(1) Debt service payments on these loans are made semi-annually.
</TABLE>
<PAGE>
<TABLE>
ANNEX A-3 CERTAIN INFORMATION REGARDING MULTIFAMILY MORTGAGED PROPERTIES
<CAPTION>
CONTROL PROPERTY
NUMBER PROPERTY NAME PROPERTY ADDRESS PROPERTY CITY STATE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10000 1021/1101/1103-1137/1200 Lawrence; 1200 Clement 1021/1101/1103-1137/1200 Lawrence; 1200 Clement Radford VA
10003 131-133 Norwood Street 131-133 Norwood Street Radford VA
10004 415-417 Davis; 527-529 Fairfax 415-417 Davis; 527-529 Fairfax Radford VA
10019 Royal Palms 40890 Sandy Gale Lane Palm Desert CA
9821000 Arrowhead Apartments 1912 Cambridge Drive Palantine IL
9821001 Brookstone Manor 135 Elm Street Milford NH
9821002 Boca Winds 530 N.E. 47th Street Boca Raton FL
9821003 Hulen Gardens 7415 Tallow Wind Trail Ft. Worth TX
9821004 Lexington Downs 6003 Old Bullard Road Tyler TX
9821005 Saddle Club 3730 South Mill Avenue Tempe AZ
9821006 Clarinbridge 770 Towne Green Boulevard Kennesaw GA
9821007 Convent Ave. 90-100 Convent Avenue New York NY
9821009 Duval Manor Associates 6350 Greene Street Philadelphia PA
9821010 Greenridge Apartments 2045 Highway 41 South Greenbrier TN
9821011 Hilltop Apartments 908-916 Eastern Avenue, NE Washington DC
9821012 Knollwood Apartments 205 Old Hull Road Athens GA
9821013 Azalea Apartments 431 Block Craighead Road Charlotte NC
9821014 Signal Hill Apartments 138-102 Signal Hill Drive Statesville NC
9821015 English Garden Apartments 500 West Craighead Road Charlotte NC
9821016 Little Lotts Creek 14 East Jones Avenue Statesboro GA
9821018 Pendelton Pines 2305 Pendelton Street Memphis TN
9821020 Santa Barbara Apartments 9955 Club Creek Houston TX
9821021 Villa East 2121 Village Lake Drive Charlotte NC
9821022 Winterfield 3509 Burner Drive Charlotte NC
9821023 Sharon Arms 4313 Colwick Road Charlotte NC
9821024 Granville Apts. 3730 N. Sharon Amity Charlotte NC
9821025 Milton Road 1951 Milton Road Charlotte NC
9821026 2420 Roswell 2420 Roswell Avenue Charlotte NC
9821027 Abbey Apts. 1415 Abbey Place Charlotte NC
9821028 Silver Blue Lake 1301 - 1601 NW 103rd Street Miami FL
9821029 Spanish Oaks 7557 Arlington Expressway Jacksonville FL
9821030 Sutton Plaza 1230 13th Street, NW Washington DC
9821031 The Pines at Carolina Place Apartments 12600 Windy Pines Way Pineville NC
9821034 Moorings Apartments 571 Plum Grove Road Roselle IL
9821037 Silver Hill Apartments 4227 Silver Hill Road Suitland MD
9821038 Thrippence 3623 Fountain Avenue Chattanooga TN
9821039 Cohannet Village 203 - 207 Winthrop Street Taunton MA
9821040 Westgate Apartments 550 Lawrenceville Road Lawrenceville NJ
9821041 112, 114, 116,120 Strawberry Hill Road 112-116-120 Strawberry Hill Road Stamford CT
9821042 Ashton Pointe/Evergreen 400 Plaza Trace Monroe GA
9821044 Ashton Pines/Sugar Mill 115 Colerain Road St. Mary's GA
9821045 Sand Cove Apartments 3813 Gulf Blvd St. Petersburg FL
9821046 Kirnwood 2600 Bolton Boone Drive Desoto TX
9821048 Gardenwood 1110 Garden Walk Boulevard Atlanta GA
9821049 Hamilton 1255 New Hampshire Avenue Washington DC
9821050 The Meadows at Indian Creek 100 Eagle Drive Emmaus PA
9821051 Pointe North Apartments 4445 Harriet Lane Bethlehem PA
9821052 Welby Park Estates 1399 Phillips Road New Bedford MA
9821053 Lakeview Townhomes 4811 Likins Circle Wichita Falls TX
9821054 Fox Run 2601 South S.E. Loop Tyler TX
9821056 Rene Village 606 SE Rene Ave Gresham OR
9821057 Kelton Towers 515 Kelton Avenue Westwood CA
9821058 103 Hemenway 103 Hemenway Street Boston MA
9821059 Vista Bonita Apartments 9313 Tally Ho Road Houston TX
9821060 Vintage Square Apartments 1176 Rosemarie Lane Stockton CA
9821061 Naples Place 1900-2052 Sunshine Blvd.; 4544-4626 Sunset Blvd. Naples FL
5270-5340 16th Place; 5451-5501 16th Place;
6240-6256 Rattlesnake Hammock Rd.
9821062 Gardena West Partnership 1261 - 1281 W. Rosecrans Ave. Gardena CA
9821063 Sugarloaf Estates 28 River Road Sunderland MA
9821064 The Lenox 6014 Winsome Lane Houston TX
9821065 Park South Apartments Park South Boulevard Arden NC
9821066 Southern Pines 15373 St. Charles St. Gulfport MS
9821067 Park Lee Apartments 1600 West Highland Avenue Phoenix AZ
9821068 The Landings 951-969 Wilcox Street Waupun WI
9821069 Scarborough Mews 5th & Orange Streets Media PA
9821071 Arbor Apartments 2411 Southwest 35th Place Gainesville FL
9821072 825 & 835 Wisconsin Avenue 825 & 835 Wisconsin Avenue Oshkosh WI
9821074 Hilltop House Apartments 1200 N. Queen Street Arlington VA
9821075 Marlaine North & South Apartments 1201-1203,1225 N. Pierce Street Arlington VA
<CAPTION>
UTILITIES NUMBER NUMBER NUMBER
CONTROL PROPERTY TENANT OF STUDIO OF 1 BR OF 2 BR
NUMBER ZIP PROPERTY TYPE COUNTY ELEVATOR PAYS UNITS UNITS UNITS
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10000 24141 Multifamily - Conventional Pulaski N W,E,G,P,C 0 2 16
10003 24141 Multifamily - Conventional Pulaski N W,E,G,P,C 0 0 0
10004 24141 Multifamily - Conventional Pulaski N W,E,G,P,C 0 0 18
10019 92211 Multifamily - Conventional Riverside N E,G,P,C 0 13 89
9821000 60074 Multifamily - Conventional Cook N E,P,T,C 0 102 78
9821001 03055 Multifamily - Conventional Hillsborough N E,C,P 0 5 86
9821002 33431 Multifamily - Conventional Palm Beach N E,C,P 12 58 12
9821003 76133 Multifamily - Conventional Tarrant N E,C,P 0 80 112
9821004 75703 Multifamily - Conventional Smith N E,C,P 4 156 155
9821005 85282 Multifamily - Conventional Maricopa N E,C,P 63 205 246
9821006 30144 Multifamily - Conventional Cobb N E,W,P,C 0 124 125
9821007 10027 Multifamily - Conventional New York N EPTC 0 9 32
9821009 19144 Multifamily - Conventional Philadelphia Y EPC 34 79 55
9821010 37073 Multifamily - Sec. 42 Robertson N E,G,C,P 0 0 80
9821011 20019 Multifamily - Conventional Washington, D.C. N E 0 52 54
9821012 30603 Multifamily - Sec. 42 Clarke N E,G,C,P 0 0 30
9821013 28206 Multifamily - Conventional Mecklenburg N E 0 0 66
9821014 28625 Multifamily - Conventional Iredell N E,G 10 40 60
9821015 28206 Multifamily - Conventional Mecklenburg N E,P,C 0 72 47
9821016 30458 Multifamily - Sec. 42 Bulloch N E,G,C,P 0 0 32
9821018 38114 Multifamily - Sec. 42 Shelby N E 0 32 150
9821020 77036 Multifamily - Conventional Harris N E 0 131 44
9821021 28212 Multifamily - Conventional Mecklenburg N EPC 0 119 0
9821022 28205 Multifamily - Conventional Mecklenburg N EPC 0 27 44
9821023 28211 Multifamily - Conventional Mecklenburg N EPC 0 10 12
9821024 28205 Multifamily - Conventional Mecklenburg N EPC 0 13 74
9821025 28215 Multifamily - Conventional Mecklenburg N EPC 0 135 96
9821026 28209 Multifamily - Conventional Mecklenburg Y EPC 0 0 32
9821027 28209 Multifamily - Conventional Mecklenburg N EPC 0 20 68
9821028 33147 Multifamily - Conventional Dade N E 0 133 89
9821029 32211 Multifamily - Conventional Duval N EGPTC 0 78 96
9821030 20005 Multifamily - Conventional D.C. Y None 20 153 0
9821031 28288 Multifamily - Sec. 42 Mecklenburg N E 0 36 116
9821034 60172 Multifamily - Conventional Cook N E,P,T,C 0 92 106
9821037 20746 Multifamily - Conventional Prince George N P, C 0 124 92
9821038 37412 Multifamily - Conventional Hamilton N E 0 70 21
9821039 02780 Multifamily - Conventional Bristol N E,P,C 6 30 36
9821040 08648 Multifamily - Conventional Mercer County N EPC 0 34 38
9821041 06902 Multifamily - Conventional Fairfield N E 9 34 34
9821042 30655 Multifamily - Sec. 42 Walton N E,C,P,G,W,T 0 10 19
9821044 31558 Multifamily - Sec. 42 Camden N E,C,P,G,W,T 0 0 34
9821045 33706 Multifamily - Conventional Pinellas County N EGPC 0 64 8
9821046 75115 Multifamily - Sec. 42 Dallas N E,G 0 118 80
9821048 30349 Multifamily - Conventional Clayton N E,G,P,C 0 108 226
9821049 20036 Multifamily - Conventional Washington DC Y W,E,G,P,C 210 87 7
9821050 18049 Multifamily - Conventional Lehigh N EPC 0 68 164
9821051 18017 Multifamily - Conventional Northampton N EPC 0 60 140
9821052 02745 Multifamily - Conventional Bristol N E,C,P 0 0 108
9821053 76308 Multifamily - Conventional Witchita N E,G,P,C 0 20 80
9821054 75701 Multifamily - Conventional Smith N E,C,P 48 48 32
9821056 97030 Multifamily - Conventional Multnomah N E, G, P, C 0 0 30
9821057 90024 Multifamily - Conventional Los Angeles Y P,C 18 40 47
9821058 02115 Multifamily - Conventional Suffolk N E,P,C 0 0 5
9821059 77017 Multifamily - Conventional Harris N E 0 80 61
9821060 95207 Multifamily - Conventional San Joaquin N PC 0 111 78
9821061 34116 Multifamily - Conventional Dade N E,C 0 0 86
9821062 90247 Multifamily - Conventional Los Angeles N EGPC 0 4 80
9821063 01375 Multifamily - Conventional Franklin N E,C,P 0 1 230
9821064 77057 Multifamily - Conventional Harris N E,C,P 36 88 40
9821065 28704 Multifamily - Conventional Buncombe County N EPTC 0 10 22
9821066 39503 Multifamily - Conventional Harrison N E,C,P 10 28 41
9821067 85015 Multifamily - Conventional Maricopa N EPC 0 218 304
9821068 53963 Multifamily - Sec. 42 Dodge N E,C,P 0 12 32
9821069 19063 Multifamily - Conventional Delaware N EGPTC 0 0 0
9821071 32608 Multifamily - Conventional Alachua N E,C,P,W,S 0 96 0
9821072 54901 Multifamily - Conventional Winnebago N WEGPC 0 0 0
9821074 22209 Multifamily - Conventional Arlington Y P,T,C 24 24 1
9821075 22209 Multifamily - Conventional Arlington Y E,G 33 27 30
<CAPTION>
NUMBER NUMBER
CONTROL OF 3 BR OF 4 BR+ AVG RENT- AVG RENT AVG RENT AVG RENT AVG RENT
NUMBER UNITS UNITS STUDIO RATE-1 BR RATE-2 BR RATE-3 BR RATE-4+ BR
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
10000 1 31 NA 333 495 503 783
10003 12 6 NA 333 495 503 783
10004 7 2 NA 333 495 503 783
10019 0 0 NA 716 730 NA NA
9821000 20 0 NA 779 887 1142 NA
9821001 1 0 NA 590 650 850 NA
9821002 0 0 560 673 760 NA NA
9821003 8 0 NA 415 565 760 NA
9821004 1 0 381 434 530 NA NA
9821005 1 0 485 578 690 875 NA
9821006 57 0 NA 860 1185 1400 NA
9821007 31 2 NA 370 550 650 750
9821009 0 0 395 521 600 NA NA
9821010 40 0 NA NA 469 598 NA
9821011 0 0 NA 515 540 NA NA
9821012 34 0 NA NA 363 460 NA
9821013 0 0 NA NA 425 NA NA
9821014 12 0 341 416 515 635 NA
9821015 0 0 NA 370 427 NA NA
9821016 40 0 NA NA 450 600 NA
9821018 0 0 NA 305 345 NA NA
9821020 0 0 NA 335 445 NA NA
9821021 0 0 NA 385 NA NA NA
9821022 0 0 NA 336 430 NA NA
9821023 10 0 NA 395 450 523 NA
9821024 14 0 NA 410 512 598 NA
9821025 0 0 NA 340 433 NA NA
9821026 0 0 NA NA 1022 NA NA
9821027 40 0 NA 391 484 527 NA
9821028 17 0 NA 459 559 650 NA
9821029 20 0 NA 390 510 605 NA
9821030 0 0 525 631 NA NA NA
9821031 48 0 NA 575 715 834 NA
9821034 18 0 NA 774 889 1144 NA
9821037 0 0 NA 530 600 NA NA
9821038 20 0 NA 390 500 570 NA
9821039 0 0 426 553 675 NA NA
9821040 0 0 NA 700 800 NA NA
9821041 2 0 597 792 NA NA NA
9821042 19 0 NA 165 410 465 NA
9821044 36 0 NA NA 366 416 NA
9821045 0 0 NA 540 740 NA NA
9821046 0 0 NA 730 922 NA NA
9821048 36 0 NA 555 690 805 NA
9821049 0 0 750 1025 1675 NA NA
9821050 0 0 NA 655 840 NA NA
9821051 0 0 NA 655 840 NA NA
9821052 0 0 NA NA 589 NA NA
9821053 20 0 NA 395 525 605 NA
9821054 0 0 350 390 502 NA NA
9821056 1 0 NA NA 532 600 NA
9821057 0 0 814 914 1313 NA NA
9821058 4 8 NA NA 1650 2000 2400
9821059 3 0 NA 334 438 475 NA
9821060 1 0 NA 395 475 500 NA
9821061 32 0 NA NA 594 730 NA
9821062 0 0 NA 410 646 NA NA
9821063 1 0 NA 590 687 675 NA
9821064 0 0 450 520 700 NA NA
9821065 2 0 NA 486 640 850 NA
9821066 22 0 385 465 588 709 NA
9821067 1 0 NA 439 562 620 NA
9821068 20 0 NA 233 413 500 NA
9821069 15 0 NA NA NA 866 NA
9821071 0 0 NA 434 NA NA NA
9821072 4 20 NA NA NA 615 820
9821074 0 0 563 653 830 NA NA
9821075 0 0 518 658 815 NA NA
</TABLE>
<PAGE>
<TABLE>
ANNEX A-3 CERTAIN INFORMATION REGARDING MULTIFAMILY MORTGAGED PROPERTIES
<CAPTION>
CONTROL PROPERTY
NUMBER PROPERTY NAME PROPERTY ADDRESS PROPERTY CITY STATE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
9821081 Southampton Apartments 1400 Henderson Road Angleton TX
9821082 Salem Pines Apartments 1904 East Mulberry Street Angleton TX
9821097 Forest Towers 3500 and 3550 Washington Hollywood FL
9821098 Park Regency Apartments 130 Van Cortlandt Avenue Bronx NY
9821099 Harbour Key Apartments 5749 Gatlin Avenue Orlando FL
9821100 Royal Palm Key Apartments 1401 Village Boulevard West Palm Beach FL
9821101 Coral Key Apartments 3300 Pinewalk Drive North Margate FL
9821102 Planters Crossing 1447 Stone Rd. Tallahassee FL
9821103 Rochester Apartments 10933 Rochester Avenue Los Angeles CA
9821104 11640 Kiowa Avenue 11640 Kiowa Avenue Los Angeles CA
9821105 The Carlton Apartment Building 11666 Goshen Ave. Los Angeles CA
9821107 Sprucemont Apartments 257 South 16th St. Philadelphia PA
9821109 Birchwood Apartments 4829 Coles Manor Place Dallas TX
9821111 Hamiltonian Gardens Warrenville Road Middlesex NJ
9821112 Woodbine Gardens 1 Woodbine Road Avenel NJ
9821115 Tennessee Village Apartments 4404 Tennessee Avenue Nashville TN
9821121 Country Club Estates 413 West 11th Street Alexandria IN
9821122 Butler Ridge/Butler Arms 1607 Route 23/115-129 Booton Ave. Butler NJ
9821122 Butler Arms 115-129 Booton Avenue Butler NJ
9821122 Butler Ridge 1607 Route 23 Butler NJ
9821124 Briarwood 1355 Briarwood Road Atlanta GA
9821125 Deville 3330 Atlanta Road Smyrna GA
9821126 The Highlands 2525 Ward Street Smyrna GA
9821130 Shelbourne Towers 860 Twentieth Street Knoxville TN
9821133 Coopers Pond Apts. 543 Cricklewood Drive State College PA
9821142 Timber Trails 3321 Franklin Street Wisconsin Rapids WI
9821143 Turtle Creek Apts. 358 Toftrees Ave State College PA
9821144 321 East 22nd Street 321 East 22nd Street New York NY
9821145 Turnberry Towers 1438 Third Avenue New York NY
9821146 Dutch Village Apartments 2348 Perring Manor Rd. Baltimore MD
9821149 Greenlawn Apartments 11211 Greenlawn Avenue Culver City CA
9821150 New Meadowbrook Village 903-1005 East Front Street Plainfield NJ
9821151 Ridgewood Apartments 404 Jones Ferry Road Carrboro NC
9821152 Elms Apartment House 1078 New Britain Ave West Hartford CT
9821154 Westgrove Apartments 1815-2137 Kensington Drive Waukesha WI
9821155 Castilian Lake Park Apartments 11444 137th St. North Largo FL
9821156 29 Cornelia Street 29 Cornelia Ave New York NY
<CAPTION>
UTILITIES NUMBER NUMBER NUMBER
CONTROL PROPERTY TENANT OF STUDIO OF 1 BR OF 2 BR
NUMBER ZIP PROPERTY TYPE COUNTY ELEVATOR PAYS UNITS UNITS UNITS
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
9821081 77515 Multifamily - Conventional Brazoria County N E,P,C 0 48 96
9821082 77515 Multifamily - Conventional Brazoria County N E,P,C 0 86 46
9821097 33021 Multifamily - Conventional Broward N EPC 0 128 65
9821098 10463 Multifamily - Conventional Bronx Y E,P,C 14 16 13
9821099 32822 Multifamily - Conventional Orange N E,P,C 36 148 240
9821100 33409 Multifamily - Conventional Palm Beach N E,P,C 0 152 248
9821101 33063 Multifamily - Conventional Broward N E,P,C 0 232 132
9821102 32303 Multifamily - Conventional Leon County N EGPC 0 24 65
9821103 90024 Multifamily - Conventional Los Angeles Y E,P,C 0 40 40
9821104 90049 Multifamily - Conventional Los Angeles N E,P,C 0 26 26
9821105 90049 Multifamily - Conventional Los Angeles Y E,P,C 70 20 0
9821107 19109 Multifamily - Conventional Philadelphia Y EPC 2 42 14
9821109 75204 Multifamily - Sec. 42 Dallas N E,P,C 0 146 88
9821111 08846 Multifamily - Conventional Middlesex N E, G, P, T, C 8 96 36
9821112 07001 Multifamily - Conventional Middlesex N E, P, T, C 4 86 17
9821115 37209 Multifamily - Conventional Davidson N W,E,G,P,T,C 0 106 172
9821121 46001 Multifamily - Conventional Madison N E,P,C 0 5 59
9821122 07405 Multifamily - Conventional Passaic N E,P,C 26 168 24
9821122 07405 Multifamily - Conventional Passaic N E,P,C 0 30 0
9821122 07405 Multifamily - Conventional Passaic N E,P,C 26 138 24
9821124 30319 Multifamily - Conventional DeKalb N E,P,C 0 24 111
9821125 30080 Multifamily - Conventional Cobb N E,P,C 0 28 64
9821126 30080 Multifamily - Conventional Cobb N E,P,C 0 16 96
9821130 37916 Multifamily - Conventional Knox Y P,C 71 43 74
9821133 16803 Multifamily - Conventional Centre N E, P, C, T 0 0 30
9821142 54494 Multifamily - Sec. 42 Wood N E, G, P, C 0 12 32
9821143 16803 Multifamily - Conventional Centre N P, C, T 9 60 114
9821144 10010 Multifamily - Conventional New York Y E,G,P,C 101 13 2
9821145 10028 Multifamily - Conventional New York Y E 6 125 16
9821146 21234 Multifamily - Conventional Baltimore City N EGPC 0 201 290
9821149 90230 Multifamily - Conventional Los Angeles Y EGPC 0 8 34
9821150 07061 Multifamily - Conventional Union County N EPC 0 53 27
9821151 27510 Multifamily - Conventional Orange N E,G,P,C,T,W 0 160 0
9821152 06110 Multifamily - Conventional Hartford Y E,P,C 2 46 24
9821154 53188 Multifamily - Conventional Waukesha N EPC 0 88 90
9821155 33774 Multifamily - Conventional Pinellas N None 0 136 4
9821156 10014 Multifamily - Conventional New York N E, G 1 13 9
<CAPTION>
NUMBER NUMBER
CONTROL OF 3 BR OF 4 BR+ AVG RENT- AVG RENT AVG RENT AVG RENT AVG RENT
NUMBER UNITS UNITS STUDIO RATE-1 BR RATE-2 BR RATE-3 BR RATE-4+ BR
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
9821081 8 0 NA 378 480 630 NA
9821082 8 0 NA 386 508 650 NA
9821097 0 0 NA 640 740 NA NA
9821098 4 0 644 758 881 1108 NA
9821099 36 0 550 615 686 860 NA
9821100 0 0 NA 700 828 NA NA
9821101 0 0 NA 740 855 NA NA
9821102 16 0 NA 505 614 830 NA
9821103 0 0 NA 950 1575 NA NA
9821104 0 0 NA 1075 1350 NA NA
9821105 0 0 948 1110 NA NA NA
9821107 2 0 539 585 752 1136 NA
9821109 42 0 NA 415 540 650 NA
9821111 0 0 541 669 875 NA NA
9821112 0 0 500 640 850 NA NA
9821115 10 0 NA 365 425 480 NA
9821121 16 0 NA 430 537 672 NA
9821122 0 0 600 712 761 NA NA
9821122 0 0 NA 725 NA NA NA
9821122 0 0 600 700 925 NA NA
9821124 23 0 NA 555 700 780 NA
9821125 40 12 NA 500 595 675 750
9821126 40 0 NA 500 548 638 NA
9821130 0 0 314 425 520 NA NA
9821133 60 0 NA NA 710 797 NA
9821142 20 0 NA 294 402 475 NA
9821143 24 0 451 610 715 810 NA
9821144 0 0 1168 1631 2200 NA NA
9821145 0 0 1692 2314 2925 NA NA
9821146 53 0 NA 380 487 600 NA
9821149 0 0 NA 883 1019 NA NA
9821150 0 0 NA 708 830 NA NA
9821151 0 0 NA 470 NA NA NA
9821152 0 0 525 575 635 NA NA
9821154 19 0 NA 605 660 830 NA
9821155 0 0 NA 453 670 NA NA
9821156 3 0 750 685 871 1338 NA
</TABLE>
UNDERWRITERS' STATEMENT
COMPUTATIONAL MATERIALS
FIRST UNION COMMERCIAL MORTGAGE TRUST-
COMMERCIAL MORTGAGE PASS THROUGH CERTIFICATES
FUNB SERIES 1999-C1
The attached tables and statistical analysis (the "Computational
Materials") are privileged and confidential and are intended for use by the
addressee only. These Computational Materials are furnished to you solely by
First Union Capital Markets and Morgan Stanley & Co. Incorporated (the
"Underwriters") and not by the issuer of the certificates identified above (the
"Offered Certificates") or any other party. The issuer of the Offered
Certificates has not prepared or taken part in the preparation of these
materials. None of the Underwriters, the issuer of the Offered Certificates, or
any other party makes any representation as to the accuracy or completeness of
the information herein. The information herein is preliminary, and will be
superseded by the applicable prospectus supplement and by any other information
subsequently filed with the Securities and Exchange Commission. The information
herein may not be provided to any third party other than the addressee's legal,
tax, financial and/or accounting advisors for the purposes of evaluating such
information.
Numerous assumptions were used in preparing the Computational Materials
which may or may not be stated herein. As such, no assurance can be given as to
the accuracy, appropriateness or completeness of the Computational Materials in
any particular context; or as to whether the Computational Materials reflect
future performance. These Computational Materials should not be construed as
either a prediction or as legal, tax, financial or accounting advice.
Any yields or weighted average lives shown in the Computational Materials
are based on prepayment and other assumptions and actual experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower or
faster than the rates assumed in the attached Computational Materials.
Furthermore, unless otherwise provided, the Computational Materials assume no
losses on the underlying assets and no interest shortfall. The specific
characteristics of the Offered Certificates may differ from those shown in the
Computational Materials due to difference between the actual underlying assets
and the hypothetical assets used in preparing the Computational Materials. The
principal amount and designation of any security described in the Computational
Materials are subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to
the Offered Certificates has been filed with the Securities and Exchange
Commission and is effective, the final prospectus supplement relating to the
Offered Certificates has not been filed with the Securities and Exchange
Commission. This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the Offered
Certificates in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state. Prospective purchasers are referred to the final prospectus and
prospectus supplement relating to the Offered Certificates for definitive terms
of the Offered Certificates and the collateral.
Please be advised that mortgage-backed and/or asset-backed securities may
not be appropriate for all investors. Potential investors must be willing to
assume, among other things, market price volatility, prepayments, yield curve
and interest rate risks. Investors should fully consider the risk of an
investment in these Offered Certificates.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
<PAGE>
Investors should read the Underwriters' Statement which accompanies these
Computational Materials.
Prospective investors are advised to carefully read, and should rely solely
on, the final prospectus and prospectus supplement (the "Final Prospectus")
relating to the certificates referred to herein (the "Offered Certificates") in
making their investment decision. These Computational Materials have been based
upon the assumptions described above, which most likely will not represent the
actual experience of the Mortgage Pool in the future. No representation is made
herein as to the actual rate or timing of principal payments or prepayments on
any of the underlying Mortgage Loans in the Mortgage Pool or the actual
performance characteristics of the Offered Certificates. No representation is
made as to the appropriateness, usefulness, accuracy or completeness of these
materials or the assumptions on which they are based. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus, which shall be deemed to supersede, amend and supplement these
Computational Materials in their entirety. NOTHING HEREIN SHOULD BE CONSIDERED
AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY OFFERED CERTIFICATES.
<PAGE>
<TABLE>
PERCENTAGE OF MORTGAGE POOL BY
PREPAYMENT RESTRICTION (ASSUMING NO PREPAYMENT)
<CAPTION>
Prepayment Restrictions Feb. 1999 Feb. 2000 Feb. 2001 Feb. 2002 Feb. 2003 Feb. 2004 Feb. 2005 Feb. 2006
- ----------------------- --------- --------- --------- --------- --------- --------- --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Locked Out or Defeasance ........... 99.44% 99.45% 97.04% 95.51% 90.70% 85.29% 85.21% 83.94%
Yield Maintenance Total ............ 0.56% 0.55% 2.96% 4.49% 9.30% 11.32% 11.39% 12.52%
Penalty Points:
5.00% and greater .................. 0.00% 0.00% 0.00% 0.00% 0.00% 3.39% 0.00% 0.00%
4.00% to 4.99% ..................... 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.40% 0.00%
3.00% to 3.99% ..................... 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.53%
2.00% to 2.99% ..................... 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1.00% to 1.99% ..................... 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Open ............................... 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
--------- --------- --------- --------- --------- --------- --------- -------
TOTALS ............................. 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
========= ========= ========= ========= ========= ========= ========= =======
Cut-Off Date Pool Balance
Outstanding (in millions) .......... $1,163.52 $1,148.77 $1,133.23 $1,116.26 $1,097.77 $1,077.75 $1,056.40 $996.39
% of Cut-Off Date Pool Balance ..... 100.00% 98.73% 97.40% 95.94% 94.35% 92.63% 90.79% 85.64%
<CAPTION>
Prepayment Restrictions Feb. 2007 Feb. 2008 Feb. 2009
- ----------------------- --------- --------- ---------
<S> <C> <C> <C>
Locked Out or Defeasance ........... 83.71% 77.27% 69.88%
Yield Maintenance Total ............ 12.75% 11.66% 28.96%
Penalty Points:
5.00% and greater .................. 0.00% 0.00% 0.00%
4.00% to 4.99% ..................... 0.00% 0.00% 0.00%
3.00% to 3.99% ..................... 0.00% 0.00% 0.00%
2.00% to 2.99% ..................... 3.54% 0.00% 0.00%
1.00% to 1.99% ..................... 0.00% 1.29% 0.00%
Open ............................... 0.00% 9.79% 1.16%
--------- --------- ---------
TOTALS ............................. 100.00% 100.00% 100.00%
========= ========= =========
Cut-Off Date Pool Balance
Outstanding (in millions) .......... $972.08 $938.50 $271.93
% of Cut-Off Date Pool Balance ..... 83.55% 80.66% 23.37%
</TABLE>
S-58
