<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: June 16, 1999
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
----------------------------------------------------------
(Originator of the Trust referred to herein)
(Exact name of the registrant as specified in its charter)
CHASE MANHATTAN AUTO OWNER TRUST 1998-C
---------------------------------------
(Issuer with respect to Certificates)
Delaware 333-36939 13-2633612
- ------------------------------ ------------------------ -------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5033
<PAGE>
Item 5. Other Events:
On 3/15/99, Chase Manhattan Auto Owner Trust 1998-C (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of February 1, 1998, (the "Sale and Servicing Agreement"),
between the Registrant, as Seller and Servicer, and the Trust, as Issuer.
On 4/15/99, Chase Manhattan Auto Owner Trust 1998-C (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of February 1, 1998, (the "Sale and Servicing Agreement"),
between the Registrant, as Seller and Servicer, and the Trust, as Issuer.
On 5/17/99, Chase Manhattan Auto Owner Trust 1998-C (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of February 1, 1998, (the "Sale and Servicing Agreement"),
between the Registrant, as Seller and Servicer, and the Trust, as Issuer.
A copy of the Certificateholder Reports for such Distribution Dates
delivered pursuant to section 5.8 of the Sale and Servicing Agreement are being
filed as Exhibits 20.1, 20.2, and 20.3 to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
-------- -----------
20.1 Monthly Certificateholder's statement with respect to the
March 15, 1999 distribution.
20.2 Monthly Certificateholder's statement with respect to the
April 15, 1999 distribution.
20.3 Monthly Certificateholder's statement with respect to the
May 17, 1999 distribution.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: June 18, 1999
By: THE CHASE MANHATTAN BANK, USA, NATIONAL
ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
-----------------------------------
Name: Patricia Garvey
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
- ----------- -----------
20.1 Certificateholder Reports dated 3/15/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing
Agreement dated as of February 1, 1998.
20.2 Certificateholder Reports dated 4/15/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing
Agreement dated as of February 1, 1998.
20.3 Certificateholder Reports dated 5/17/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing
Agreement dated as of February 1, 1998.
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
PERIOD 8 PAGE # 1
DETERMINATION: 10-Mar-99 Beginning 2/1/1999
DISTRIBUTION: 15-Mar-99 Ending 2/28/1999
TIME: 4/13/1999 12:09
CLASS A-1 5.588% ASSET BACKED NOTES
CLASS A-2 5.747% ASSET BACKED NOTES
CLASS A-3 5.800% ASSET BACKED NOTES
CLASS A-4 5.850% ASSET BACKED NOTES
CLASS B-1 6.000% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $258,000,000.00 $6,320,069.47 $6,320,069.47 $26,487.41 $6,346,556.88 $0.00
A-2 Notes $195,000,000.00 $195,000,000.00 $20,372,023.36 $933,887.50 $21,305,910.86 $174,627,976.64
A-3 Notes $325,000,000.00 $325,000,000.00 $0.00 $1,570,833.33 $1,570,833.33 $325,000,000.00
A-4 Notes $283,900,000.00 $283,900,000.00 $0.00 $1,384,012.50 $1,384,012.50 $283,900,000.00
- ---------------------------------------------------------------------------------------------------------------------------
NOTE TOTALS $1,061,900,000.00 $810,220,069.47 $26,692,092.83 $3,915,220.74 $30,607,313.57 $783,527,976.64
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
B-1 $32,889,211.45 $32,889,211.45 $630,062.58 $164,446.06 $794,508.64 $32,259,148.87
- ---------------------------------------------------------------------------------------------------------------------------
CERTIFICATE TOTALS $32,889,211.45 $32,889,211.45 $630,062.58 $164,446.06 $794,508.64 $32,259,148.87
- ---------------------------------------------------------------------------------------------------------------------------
TOTALS $1,094,789,211.45 $843,109,280.92 $27,322,155.41 $4,079,666.80 $31,401,822.21 $815,787,125.51
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 24.49639329 0.10266438 0.00000000
-------------------------------------------------------------------
A-2 104.47191467 4.78916667 895.52808533
-------------------------------------------------------------------
A-3 0.00000000 4.83333332 1,000.00000000
-------------------------------------------------------------------
A-4 0.00000000 4.87500000 1,000.00000000
- -------------------------------------------------------------------------------------------
Notes Totals 25.13616426 3.68699571 737.85476659
- -------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------
B-1 19.15712029 5.00000008 980.84287971
- -------------------------------------------------------------------------------------------
Certificate Totals 19.15712029 5.00000008 980.84287971
- -------------------------------------------------------------------------------------------
TOTALS 24.95654426 3.72644045 745.15451648
- -------------------------------------------------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
================================================================================
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
PERIOD 9 PAGE # 2
DETERMINATION: 10-Mar-99 Beginning 2/1/1999
DISTRIBUTION: 15-Mar-99 Ending 2/28/1999
TIME: 4/13/1999 12:09
<TABLE>
<CAPTION>
per $1000
----------
<S> <C> <C>
Section 5.8 (iii) Servicing Fee $702,591.07 0.64175922
Section 5.8 (iv) Administration Fee $1,000.00 0.00091342
Section 5.8 (vi) Pool Balance at the end of the Collection Period $815,787,125.51
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $22,894.46
TOTAL $22,894.46
Section 5.8 (viii) Realized Net Losses for Collection Period $283,220.68
Section 5.8 (ix) Reserve Account Balance after Disbursement $24,473,613.77
Section 5.8 (x) Specified Reserve Account Balance $24,473,613.77
Section 5.8 (xi) Total Distribution Amount $32,856,887.04
Servicing Fee $702,591.07
Administrative Fee $1,000.00
Noteholders' Distribution Amount $30,607,313.57
Certificateholders' Distribution Amount $ 794,508.64
Deposit to Reserve Account $751,473.76
</TABLE>
Section 5.8 (xii) Noteholders' Distributable Amount
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per Int (per Total
$1000/orig) $1000/orig) (per $1000/orig)
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $6,320,069.47 $26,487.41 $6,346,556.88 24.49639329 0.10266438 24.59905767
A-2 $20,372,023.36 $933,887.50 $21,305,910.86 104.47191467 4.78916667 109.26108133
A-3 $0.00 $1,570,833.33 $1,570,833.33 0.00000000 4.83333332 4.83333332
A-4 $0.00 $1,384,012.50 $1,384,012.50 0.00000000 4.87500000 4.87500000
- -------------------------------------------------------------------------------------------------------------------------------
Total $26,692,092.83 $3,915,220.74 $30,607,313.57 25.13616426 3.68699571 28.82315997
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiii) Certificateholders' Distributable Amount
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per Int (per Total
$1000/orig) $1000/orig) (per $1000/orig)
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $630,062.58 $164,446.06 $794,508.64 19.15712029 5.00000008 24.15712037
- -----------------------------------------------------------------------------------------------------------------------------
Total $630,062.58 $164,446.06 $794,508.64 19.15712029 5.00000008 24.15712037
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Fund Transfer Amount $ 751,473.76
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
PERIOD 10 PAGE #1
DETERMINATION: 9-Apr-99 Beginning 3/1/1999
DISTRIBUTION: 15-Apr-99 Ending 3/31/1999
TIME: 6/10/1999 17:54
CLASS A-1 5.588% ASSET BACKED NOTES
CLASS A-2 5.747% ASSET BACKED NOTES
CLASS A-3 5.800% ASSET BACKED NOTES
CLASS A-4 5.850% ASSET BACKED NOTES
CLASS B-1 6.000% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $258,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2 Notes $195,000,000.00 $174,627,976.64 $30,728,065.44 $836,322.48 $31,564,387.92 $143,899,911.20
A-3 Notes $325,000,000.00 $325,000,000.00 $0.00 $1,570,833.33 $1,570,833.33 $325,000,000.00
A-4 Notes $283,900,000.00 $283,900,000.00 $0.00 $1,384,012.50 $1,384,012.50 $283,900,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
NOTE TOTALS $1,061,900,000.00 $783,527,976.64 $30,728,065.44 $3,791,168.31 $34,519,233.75 $752,799,911.20
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
B-1 $32,889,211.45 $32,259,148.87 $950,352.54 $161,295.74 $1,111,648.28 $31,308,796.33
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE TOTALS $32,889,211.45 $32,259,148.87 $950,352.54 $161,295.74 $1,111,648.28 $31,308,796.33
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS $1,094,789,211.45 $815,787,125.51 $31,678,417.98 $3,952,464.05 $35,630,882.03 $784,108,707.53
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
================================================================================
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000
-----------------------------------------------------------
A-2 157.57982277 4.28883323 737.94826256
-----------------------------------------------------------
A-3 0.00000000 4.83333332 1,000.00000000
-----------------------------------------------------------
A-4 0.00000000 4.87500000 1,000.00000000
- ------------------------------------------------------------------------------
Notes Totals 28.93687300 3.57017451 708.91789359
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
B-1 28.89557086 4.90421427 951.94730885
- ------------------------------------------------------------------------------
Certificate Totals 28.89557086 4.90421427 951.94730885
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
TOTALS 28.93563222 3.61025119 716.21888426
- ------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
================================================================================
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
PERIOD 10 PAGE #2
DETERMINATION: 9-Apr-99 Beginning 3/1/1999
DISTRIBUTION: 15-Apr-99 Ending 3/31/1999
TIME: 6/10/1999 17:54
<TABLE>
<CAPTION>
per $1000
----------
<S> <C> <C>
Section 5.8 (iii) Servicing Fee $679,822.60 0.62096209
Section 5.8 (iv) Administration Fee $1,000.00 0.00091342
Section 5.8 (vi) Pool Balance at the end of the Collection Period $784,108,707.53
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $43,719.76
TOTAL $43,719.76
Section 5.8 (viii) Realized Net Losses for Collection Period $415,613.98
Section 5.8 (ix) Reserve Account Balance after Disbursement $23,523,261.23
Section 5.8 (x) Specified Reserve Account Balance $23,523,261.23
Section 5.8 (xi) Total Distribution Amount $37,608,871.19
Servicing Fee $679,822.60
Administrative Fee $1,000.00
Noteholders' Distribution Amount $34,519,233.75
Certificateholders' Distribution Amount $ 1,111,648.28
Deposit to Reserve Account $1,297,166.56
</TABLE>
Section 5.8 (xii) Noteholders' Distributable Amount
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-2 $30,728,065.44 $836,322.48 $31,564,387.92 157.57982277 4.28883323 161.86865600
A-3 $0.00 $1,570,833.33 $1,570,833.33 0.00000000 4.83333332 4.83333332
A-4 $0.00 $1,384,012.50 $1,384,012.50 0.00000000 4.87500000 4.87500000
- ------------------------------------------------------------------------------------------------------------------------------------
Total $30,728,065.44 $3,791,168.31 $34,519,233.75 28.93687300 3.57017451 32.50704751
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiii) Certificateholders' Distributable Amount
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $950,352.54 $161,295.74 $1,111,648.28 28.89557086 4.90421427 33.79978513
- ------------------------------------------------------------------------------------------------------------------------------------
Total $950,352.54 $161,295.74 $1,111,648.28 28.89557086 4.90421427 33.79978513
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Fund Transfer Amount $ 1,297,166.56
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
================================================================================
PERIOD 11 PAGE # 1
DETERMINATION: 10-May-99 Beginning 4/1/1999
DISTRIBUTION: 17-May-99 Ending 4/30/1999
TIME: 6/8/1999 19:25
CLASS A-1 5.588% ASSET BACKED NOTES
CLASS A-2 5.747% ASSET BACKED NOTES
CLASS A-3 5.800% ASSET BACKED NOTES
CLASS A-4 5.850% ASSET BACKED NOTES
CLASS B-1 6.000% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 Notes $258,000,000.00 $0.00 $0.00
A-2 Notes $195,000,000.00 $143,899,911.20 $27,452,357.77
A-3 Notes $325,000,000.00 $325,000,000.00 $0.00
A-4 Notes $283,900,000.00 $283,900,000.00 $0.00
- -----------------------------------------------------------------------------------------
NOTE TOTALS $1,061,900,000.00 $752,799,911.20 $27,452,357.77
- -----------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------
B-1 $32,889,211.45 $31,308,796.33 $849,041.99
- -----------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------
CERTIFICATE TOTALS $32,889,211.45 $31,308,796.33 $849,041.99
- -----------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------
TOTALS $1,094,789,211.45 $784,108,707.53 $28,301,399.76
- -----------------------------------------------------------------------------------------
<CAPTION>
INTEREST TOTAL END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 Notes $0.00 $0.00 $0.00
A-2 Notes $689,160.66 $28,141,518.43 $116,447,553.43
A-3 Notes $1,570,833.33 $1,570,833.33 $325,000,000.00
A-4 Notes $1,384,012.50 $1,384,012.50 $283,900,000.00
- ----------------------------------------------------------------------------------------
NOTE TOTALS $3,644,006.49 $31,096,364.26 $725,347,553.43
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
B-1 $156,543.98 $1,005,585.97 $30,459,754.34
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
CERTIFICATE TOTALS $156,543.98 $1,005,585.97 $30,459,754.34
- ----------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------
TOTALS $3,800,550.47 $32,101,950.23 $755,807,307.77
- ----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- -------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000
--------------------------------------------------------
A-2 140.78132190 3.53415723 597.16694067
--------------------------------------------------------
A-3 0.00000000 4.83333332 1,000.00000000
--------------------------------------------------------
A-4 0.00000000 4.87500000 1,000.00000000
- -------------------------------------------------------------------------------
Notes Totals 25.85211204 3.43159101 683.06578155
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
B-1 25.81521273 4.75973649 926.13209612
- -------------------------------------------------------------------------------
Certificate Totals 25.81521273 4.75973649 926.13209612
- -------------------------------------------------------------------------------
TOTALS 25.85100352 3.47149061 690.36788074
- -------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
===============================================================================
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
===============================================================================
PERIOD 11 PAGE # 2
DETERMINATION: 10-May-99 Beginning 4/1/1999
DISTRIBUTION: 17-May-99 Ending 4/30/1999
TIME: 6/8/1999 19:25
<TABLE>
<CAPTION>
per $1000
---------
<S> <C> <C>
Section 5.8 (iii) Servicing Fee $653,423.92 0.59684907
Section 5.8 (iv) Administration Fee $1,000.00 0.00091342
Section 5.8 (vi) Pool Balance at the end of the Collection Period $755,807,307.77
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $93,931.80
TOTAL $93,931.80
Section 5.8 (viii) Realized Net Losses for Collection Period $132,494.85
Section 5.8 (ix) Reserve Account Balance after Disbursement $22,674,219.23
Section 5.8 (x) Specified Reserve Account Balance $22,674,219.23
Section 5.8 (xi) Total Distribution Amount $34,080,245.02
Servicing Fee $653,423.92
Administrative Fee $1,000.00
Noteholders' Distribution Amount $31,096,364.26
Certificateholders' Distribution Amount $ 1,005,585.97
Deposit to Reserve Account $ 1,323,870.87
</TABLE>
Section 5.8 (xii) Noteholders' Distributable Amount
<TABLE>
<CAPTION>
- --------------------------------------------------------------------
Class Principal Interest Total
- --------------------------------------------------------------------
<S> <C> <C> <C>
A-1 $0.00 $0.00 $0.00
A-2 $27,452,357.77 $689,160.66 $28,141,518.43
A-3 $0.00 $1,570,833.33 $1,570,833.33
A-4 $0.00 $1,384,012.50 $1,384,012.50
- --------------------------------------------------------------------
Total $27,452,357.77 $3,644,006.49 $31,096,364.26
- --------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------------------------
Class Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
- -------------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 0.00000000 0.00000000 0.00000000
A-2 140.78132190 3.53415723 144.31547913
A-3 0.00000000 4.83333332 4.83333332
A-4 0.00000000 4.87500000 4.87500000
- -------------------------------------------------------------------------------------
Total 25.85211204 3.43159101 29.28370304
- -------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Section 5.8 (xiii) Certificateholders' Distributable Amount
<TABLE>
<CAPTION>
- ---------------------------------------------------------
Class Principal Interest Total
- ---------------------------------------------------------
<S> <C> <C> <C>
B-1 $849,041.99 $156,543.98 $1,005,585.97
- ---------------------------------------------------------
Total $849,041.99 $156,543.98 $1,005,585.97
- ---------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------
Class Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
- ----------------------------------------------------------------------------------
<S> <C> <C> <C>
B-1 25.81521273 4.75973649 30.57494922
- ----------------------------------------------------------------------------------
Total 25.81521273 4.75973649 30.57494922
- ----------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Fund Transfer Amount $ 1,323,870.87
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
