SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 11, 1996
TRUST CREATED BY ASSET SECURITIZATION CORPORATION
(under a Pooling & Servicing Agreement
dated as of August 1, 1995, which Trust is
the issuer of Commercial Mortgage Pass-Through
Certificates, Series 1995-D1)
=============================
(Exact name of Registrant as specified in its Charter)
New York 33-89494 13-3672337
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Formation) File No.) Identification No.)
LaSalle National Bank, Trustee, 135 South LaSalle Street
Suite 200, Chicago, Illinois 60603
Attention: Asset-backed Securities Trust Services (Zip Code)
Nomura 1995 - D1
(Address of principal executive office)
Registrant's telephone number, including area code: (800) 246-5761
The Exhibit Index is on page 4.
Page - 1
<PAGE>
ITEM 5. OTHER EVENTS
Attached hereto is a copy of the April 11, 1996 Monthly Remittance
Statement provided to the Certificateholders by the Trustee.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
EX-19: Monthly Remittance Statement to the Certificateholders dated as
of April 11, 1996.
EX-20: Loan data file as of April 1996 Determination Date.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MIDLAND LOAN SERVICES, L.P., not in its individual
capacity but solely as a duly authorized agent of
the Registrant pursuant to Section 3.22 of the
Pooling & Servicing Agreement dated as of August
1, 1995
By: Midland Data Systems, Inc., its General
Partner
By: Lawrence D. Ashley
Title: Director of MBS Programs
Date: April 11, 1996
EXHIBIT INDEX
Sequential
Document Page Number
EX-19 Monthly Statement to the Certificateholders 3
dated as of April 11, 1996
EX-20 Loan data file as of April 1996 10
Page - 2
<TABLE>
ABN AMRO Statement Date: 04/11/96
LaSalle National Bank Payment Date: 04/11/96
Prior Payment: 03/11/96
Administrator: Record Date: 03/29/96
Ryan Kutty (800) 246-5761
135 S. LaSalle Street Suite 200 WAC: 10.187257%
Chicago, IL 60603 WAMM: 156
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
<CAPTION>
Original Opening Principal Principal
Class Face Value (1) Balance Payment Adj or Loss
CUSIP Per $1,000 Per $1,000 Per $1,000 Per $1,000
<S> <C> <C> <C> <C>
A-1 ............... 149,721,771.00 148,523,151.64 177,051.92 0.00
045424AA6 ......... 1000.000000 991.994355 1.182540 0.000000
A-1CS ............. 210,875,735.05N 209,677,115.69 0.00 0.00
045424AC2,U04509AA0 1000.000000 994.315992 0.000000 0.000000
A-2 ............... 12,652,544.00 12,652,544.00 0.00 0.00
045424AB4 ......... 1000.000000 1000.000000 0.000000 0.000000
A-3 ............... 11,598,165.00 11,598,165.00 0.00 0.00
045424AD0,U04509AB6 1000.000000 1000.000000 0.000000 0.000000
A-4 ............... 6,326,272.00 6,326,272.00 0.00 0.00
045424AE8,U04509AC6 1000.000000 1000.000000 0.000000 0.000000
B-1 ............... 17,924,437.00 17,924,437.00 0.00 0.00
045424AF5,U04509AD4 1000.000000 1000.000000 0.000000 0.000000
B-2 ............... 9,489,408.00 9,489,408.00 0.00 0.00
045424AG3,U04509AE2 1000.000000 1000.000000 0.000000 0.000000
B-3A .............. 3,162,138.00 3,162,138.00 0.00 0.00
045424AH1,U04509AF9 1000.000000 1000.000000 0.000000 0.000000
B-3B .............. 1,000.05 1,000.05 0.00 0.00
045424AJ7 ......... 1000.000000 1000.000000 0.000000 0.000000
B-4A .............. 0.00 0.00 0.00 0.00
045424AK4 ......... 1000.000000 0.000000 0.000000
B-4B .............. 0.00 0.00 0.00 0.00
045424AL2 ......... 1000.000000 0.000000 0.000000
R ................. 0.00 0.00 0.00 0.00
045424AM0 ......... 1000.000000 0.000000 0.000000
---- ----------- -------- --------
210,875,735.05 209,677,115.69 177,051.92 0.00
============== ============== ========== ====
<FN>
(1) N Denotes notional balance not included in total
</FN>
</TABLE>
Page - 3
<PAGE>
<TABLE>
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
(Continued)
<CAPTION>
Negative Closing Interest
Amort. Balance Payment
Per $1,000 Per $1,000 Per $1,000
--------- ------------ ----------
<S> <C> <C> <C>
A-1 ............... 0.00 148,346,099.72 939,408.93
045424AA6 ......... 0.000000 990.811815 6.274364
A-1CS ............. 0.00 209,500,063.77 429,358.82
045424AC2,U04509AA0 0.000000 993.476389 2.036075
A-2 ............... 0.00 12,652,544.00 80,027.34
045424AB4 ......... 0.000000 1000.000000 6.325000
A-3 ............... 0.00 11,598,165.00 73,358.39
045424AD0,U04509AB6 0.000000 1000.000000 6.325000
A-4 ............... 0.00 6,326,272.00 40,013.67
045424AE8,U04509AC6 0.000000 1000.000000 6.325000
B-1 ............... 0.00 17,924,437.00 113,372.06
045424AF5,U04509AD4 0.000000 1000.000000 6.325000
B-2 ............... 0.00 9,489,408.00 60,020.51
045424AG3,U04509AE2 0.000000 1000.000000 6.325000
B-3A .............. 0.00 3,162,138.00 0.02
045424AH1,U04509AF9 0.000000 1000.000000 0.000006
B-3B .............. 0.00 1,000.05 0.00
045424AJ7 ......... 0.000000 1000.000000 0.000000
B-4A .............. 0.00 0.00 0.00
045424AK4 ......... 0.000000 0.000000 0.000000
B-4B .............. 0.00 0.00 0.00
045424AL2 ......... 0.000000 0.000000 0.000000
R ................. 0.00 0.00 0.00
045424AM0 ......... 0.000000 0.000000 0.000000
- ------ - -------- -------- --------
0.00 209,500,063.77 1,735,559.74
==== ============== ============
Total P&I Payment 1,912,611.66
============
</TABLE>
Page - 4
<PAGE>
<TABLE>
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
(Continued)
<CAPTION>
Interest Pass-Through
Adjustment Rate (2)
Per $1,000 Next Rate (3)
---------- -------------
<S> <C> <C>
A-1 ............... 0.00 7.59000000%
045424AA6 ......... 0.000000 Fixed
A-1CS ............. 0.00 2.45725712%
045424AC2,U04509AA0 0.000000 2.45731844%
A-2 ............... 0.00 7.59000000%
045424AB4 ......... 0.000000 Fixed
A-3 ............... 0.00 7.59000000%
045424AD0,U04509AB6 0.000000 Fixed
A-4 ............... 0.00 7.59000000%
045424AE8,U04509AC6 0.000000 Fixed
B-1 ............... 0.00 7.59000000%
045424AF5,U04509AD4 0.000000 Fixed
B-2 ............... 0.00 7.59000000%
045424AG3,U04509AE2 0.000000 Fixed
B-3A .............. 0.00 7.59000000%
045424AH1,U04509AF9 0.000000 Fixed
B-3B .............. 0.00 7.59000000%
045424AJ7 ......... 0.000000 Fixed
B-4A .............. 0.00 None
045424AK4 ......... 0.000000 0.000000
B-4B .............. 0.00 None
045424AL2 ......... 0.000000 0.000000
R ................. 0.00 None
045424AM0 ......... 0.000000 0.000000
-------- --------
0.00
====
<FN>
(2) Interest Paid minus Interest Adjustment minus Deferred
Interest equals Accrual
(3) Estimated
</FN>
</TABLE>
Page - 5
<PAGE>
ABN AMRO Statement Date: 04/11/96
LaSalle National Bank Payment Date: 04/11/96
Prior Payment: 03/11/96
Administrator: Record Date: 03/29/96
Ryan Kutty (800) 246-5761
135 S. LaSalle Street Suite 200
Chicago, IL 60603
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
SERVICING COMPENSATION OTHER FEES
Servicing Fee 24,462.33 Prepayment Premiums 0.00
Less Trustee Fees (2,184.14) Net Default Interest 0.00
Net Servicing Fees 22,278.19 Excess Interest 0.00
Special Servicing Compensation 0.00
OUTSTANDING INTEREST SHORTFALL
A-1 0.00 B-1 0.00
A-1CS 0.00 B-2 0.00
A-2 0.00 B-3A 20,000.52
A-3 0.00 B-3B 6.33
A-4 0.00 B-4A 0.00
POOL INFORMATION PROPERTY ADVANCES
Beginning Ending
Loan Count 61 61
Balance 209,677,115.69 209,500,063.77
Current Unreimbursed
Advance Summary 0.00 0.00
Advance Interest 154,122.97 0.00
Subsequent Advance Interest (154,122.97)
First Month Advance
Subsequent Advance Interest 154,122.97
Less Sub. Int. Distribution (16,289.62)
Net 137,833.35
Total Current Advance 137,833.35
Book Value of Real Estate Acquired Through
Foreclosure or Grant of Deed in Lieu of
Foreclosure 0.00
The Occupancy Percentage for the Related
Mortgage Properties as of August 11, 1995
is 70%
<TABLE>
SUMMARY OF REO PROPERTY
<CAPTION>
Loan Number Loan Name Principal Balance Book Value
<S> <C> <C> <C>
</TABLE>
<TABLE>
SUMMARY OF REO PROPERTY, Continued
<CAPTION>
Date Of Final Amount Aggregate Other
Loan Number Recovery Of Proceeds Revenues Collected
<S> <C> <C> <C>
</TABLE>
Page - 6
<PAGE>
<TABLE>
ABN AMRO Statement Date: 04/11/96
LaSalle National Bank Payment Date: 04/11/96
Prior Payment: 03/11/96
Administrator: Record Date: 03/29/96
Ryan Kutty (800) 246-5761
135 S. LaSalle Street Suite 200
Chicago, IL 60603
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
Mortgaged Properties Occupancy Percentage
<CAPTION>
Number of
Collateral Id Properties Occupancy % As Of
- ------------- ---------- ----------- ---------
<S> <C> <C> <C>
030207585 1 85.00% 08/01/95
030207586 1 97.00% 08/01/95
030207587 1 98.00% 08/01/95
030207588 1 90.00% 08/01/95
030207589 1 67.00% 08/01/95
030207591 1 51.00% 08/01/95
030207595 1 97.00% 08/01/95
030207602 1 91.00% 08/01/95
030207614 1 85.00% 08/01/95
030207624 1 80.00% 08/01/95
030207685 1 88.00% 08/01/95
030207905 1 89.00% 08/01/95
030207906 1 100.00% 08/01/95
030207907 1 99.00% 08/01/95
030207908 1 100.00% 08/01/95
030207912 1 96.66% 08/08/95
030207913 1 97.00% 08/01/95
030207915 1 96.00% 08/01/95
030207922 1 95.00% 08/01/95
030207930 1 81.00% 08/01/95
030207931 1 99.00% 08/01/95
030207932 1 100.00% 08/01/95
030207933 1 100.00% 08/01/95
030207935 1 100.00% 08/01/95
030207937 1 92.00% 08/01/95
030208082 2 81.00% 08/01/95
030208094 2 81.00% 08/01/95
030208101 1 89.00% 08/01/95
030208102 1 90.00% 08/01/95
030208210 1 80.00% 08/01/95
030208219 1 77.00% 08/01/95
030208220 1 99.07% 07/31/95
030208221 1 94.00% 08/01/95
030208227 1 100.00% 08/01/95
030208232 1 100.00% 08/01/95
030208233 1 100.00% 08/01/95
030208234 2 96.00% 08/01/95
030208307 1 97.00% 08/01/95
030208352 1 74.00% 08/01/95
030208353 1 70.00% 08/01/95
030208372 1 94.00% 08/01/95
030208373 3 81.00% 08/01/95
030208381 1 98.00% 08/01/95
030208391 1 100.00% 08/01/95
030208512 1 93.00% 08/01/95
030208521 1 71.00% 08/01/95
030208536 1 100.00% 08/01/95
030208956 1 77.00% 08/01/95
030210007 1 97.00% 08/01/95
030210008 1 96.00% 08/01/95
030210009 1 65.00% 08/01/95
030210010 1 95.00% 08/01/95
030210093 1 64.00% 08/01/95
030210094 1 70.00% 08/01/95
030210095 1 71.00% 08/01/95
030210096 1 58.00% 08/01/95
030210097 1 70.00% 08/01/95
030210098 1 86.00% 08/01/95
030210099 1 97.00% 08/01/95
030210200 1 97.00% 08/01/95
030210201 1 60.00% 08/01/95
</TABLE>
Page - 7
<PAGE>
<TABLE>
ABN AMRO Statement Date: 04/11/96
LaSalle National Bank Payment Date: 04/11/96
Prior Payment: 03/11/96
Administrator: Record Date: 03/29/96
Ryan Kutty (800) 246-5761
135 S. LaSalle Street Suite 200
Chicago, IL 60603
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
<CAPTION>
Delinquencies & REOs (1)
---------------------------------------------------------------------
Delinq 1 Month Delinq 2 Months Delinq 3+ Months Foreclosure
Distrib. ----------------- --------------- -------------- --------------
Date # Balance # Balance # Balance # Balance
- -------- ----- ---------- ----- ------ ---- ------- ---- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
04/11/96 1 11,143,759 0 0 0 0 0 0
/ ...... 1.64 5.315% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
03/11/96 2 12,259,062 0 0 0 0 0 0
/ ...... 3.28 5.842% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
02/12/96 0 0 0 0 0 0 0 0
/ ...... 0.00 0.000% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
01/11/96 0 0 0 0 0 0 0 0
/ ...... 0.00 0.000% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
12/11/95 1 1,111,112 0 0 0 0 0 0
/ ...... 1.64 0.528% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
11/13/95 0 0 0 0 0 0 0 0
/ ...... 0.00 0.000% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
10/11/95 0 0 0 0 0 0 0 0
/ ...... 0.00 0.000% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
09/11/95 0 0 0 0 0 0 0 0
/ ...... 0.00 0.000% 0.00% 0.000% 0.00% 0.000% 0.00% 0.000%
<FN>
(1) Foreclosure and REO Totals are Included in the Appropriate
Delinquency Aging Category
</FN>
</TABLE>
<TABLE>
<CAPTION>
Delinq
& Prepayments Rates & Maturity
REOs ------------------------------- --------------------------
------ Next Weighted Avg.
Balance Begin Pool Pre-pmt $ Sched ------------------
of REOs Balance(#) (# Payoffs) Principal Coupon Remit WAMM
------- ----------- ------- -------- ------- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C>
04/11/96 0 209,677,116 0 177,052 10.1873% 10.0473% 156
/ ...... 0.000% 61 0
03/11/96 0 209,852,688 0 175,572 10.1873% 10.0473% 157
/ ...... 0.000% 61 0
02/12/96 0 210,026,793 (0) 174,105 10.1872% 10.0472% 158
/ ...... 0.000% 61 0
01/11/96 0 210,199,442 0 172,650 10.1871% 10.0471% 159
/ ...... 0.000% 61 0
12/11/95 0 210,370,649 (0) 171,207 10.1871% 10.0471% 160
/ ...... 0.000% 61 0
11/13/95 0 210,540,426 0 169,776 10.1870% 10.0470% 161
/ ...... 0.000% 61 0
10/11/95 0 210,708,820 36 168,358 10.1870% 10.0470% 162
/ ...... 0.000% 61 0
09/11/95 0 210,875,762 (27) 166,942 10.1869% 10.0469% 163
/ ...... 0.000% 61 0
</TABLE>
Page - 8
<PAGE>
<TABLE>
ABN AMRO Statement Date: 04/11/96
LaSalle National Bank Payment Date: 04/11/96
Prior Payment: 03/11/96
Administrator: Record Date: 03/29/96
Ryan Kutty (800) 246-5761
135 S. LaSalle Street Suite 200
Chicago, IL 60603
Asset Securitization Corporation
Midland Loan Services L.P. as Servicer
Commercial Pass-Through Certificates
Series 1995-D1
ABN AMRO Acct: 67-7390-40-3
DELINQUENCY LOAN DETAIL
<CAPTION>
Outstanding
Disclosure Paid Outstanding Property
Doc Thru Current P&I P&I Protection Advance
Control # Period Date Advances Advances Advcs(3) Desc.(1)
- --------- ------ -------- ---------- ---------- ------- -------
<C> <C> <C> <C> <C> <C> <C>
30210099 199604 02/01/96 107,372.26 214,743.60 0.00 1
30208220 199604 03/01/96 28,283.86 28,283.86 0.00B
30210201 199604 03/01/96 32,983.38 32,983.38 0.00B
------ -------- --------- --------- ----
TOTALS: 168,639.50 276,010.84 0.00
========== ========== ====
<FN>
(1) Advance Description: A. P&I Advance - Loan in Grace Period
B. P&I Advance - Late Payment - less one mo. delinq
1. P&I Advance - Loan delinquent 1 month
2. P&I Advance - Loan delinquent 2 months
3. P&I Advance - Loan delinquent 3 months
(3) Outstanding P&I Advances include the current period P&I Advance
</FN>
</TABLE>
<TABLE>
<CAPTION>
Special
Disclosure Servicer
Doc Loan Transfer Foreclosure Bankruptcy REO
Control # Status (2) Date Date Date Date
- --------- --------- -------- --------- --------- --------
<S> <C> <C> <C> <C> <C>
<FN>
(2) Loan Status: 1. Specially Serviced 6. DPO
2. Foreclosure 7. Foreclosure Sale
3. Bankruptcy 8. Bankruptcy Sale
4. REO 9. REO Disposition
5. Prepaid in Full 10. Modification/Workout
</FN>
</TABLE>
Servicer Advances For Current Distribution Date As Of
Close Of Business on: 04/10/96
Advances Due To Delinquency Or late Payment 168,639.50
Advances Due To Extended Grace Periods 0.00
(Advances due to grace periods will not bear interest unless and until such
mortgage loans become delinquent. Any such mortgage loans that become
delinquent after the distribution date will be included on the next
remittance report).
Advances For Previous Distributions Dates Reported As Due To Grace Period And
Subsequently Determined To Have Become Delinquent During The Month Of Such
Previous Distribution 0.00
Page - 9
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN STATUS
PORTFOLIO: ASC SERIES 1995 D1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 20-MAY-96
<CAPTION>
CURRENT
ASSET PRINCIPAL DAYS ENVIRON
NO BALANCE DELINQ LTV DSCR ISSUES ASSET STATUS RESOLUTION TYPE
<S> <C> <C> <C> <C> <C> <C> <C>
01 3,403,127 0 69.5% 1.51 N/A PERFORMING PERFORM TO MATURITY
02 8,838,305 0 46.5% 2.11 N/A PERFORMING PERFORM TO MATURITY
03 8,175,532 0 56.4% 1.55 N/A PERFORMING PERFORM TO MATURITY
04 4,005,832 0 69.5% 1.41 N/A PERFORMING PERFORM TO MATURITY
05 3,456,441 0 56.7% 1.83 N/A PERFORMING PERFORM TO MATURITY
06 3,364,272 0 71.6% 1.48 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
07 3,071,446 0 66.8% 1.45 N/A PERFORMING PERFORM TO MATURITY
08 2,781,481 0 50.6% 1.41 N/A PERFORMING PERFORM TO MATURITY
09 2,610,944 0 67.7% 1.39 N/A PERFORMING PERFORM TO MATURITY
10 2,507,621 0 61.2% 1.75 N/A PERFORMING PERFORM TO MATURITY
11 2,261,941 0 59.5% 2.30 N/A PERFORMING PERFORM TO MATURITY
12 2,264,841 0 62.9% 1.52 N/A PERFORMING PERFORM TO MATURITY
13 1,920,515 0 58.2% 1.71 N/A PERFORMING PERFORM TO MATURITY
14 1,788,682 0 59.6% 1.81 N/A PERFORMING PERFORM TO MATURITY
15 1,493,137 0 55.3% 1.89 N/A PERFORMING PERFORM TO MATURITY
16 1,106,093 0 54.6% 1.51 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
17 987,636 0 41.2% 2.11 N/A PERFORMING PERFORM TO MATURITY
18 8,744,794 0 64.8% 1.39 N/A PERFORMING PERFORM TO MATURITY
19 8,665,937 0 69.9% 1.35 N/A PERFORMING PERFORM TO MATURITY
20 8,493,607 0 72.0% 1.29 N/A PERFORMING PERFORM TO MATURITY
21 8,397,265 0 67.7% 1.36 N/A PERFORMING PERFORM TO MATURITY
22 5,744,370 0 66.8% 1.54 N/A PERFORMING PERFORM TO MATURITY
23 5,510,279 0 72.5% 1.39 N/A PERFORMING PERFORM TO MATURITY
24 4,482,619 0 54.7% 1.47 N/A PERFORMING PERFORM TO MATURITY
25 4,477,290 0 72.2% 1.74 N/A PERFORMING PERFORM TO MATURITY
26 4,139,639 0 70.2% 1.33 N/A PERFORMING PERFORM TO MATURITY
27 3,977,197 0 74.1% 1.48 N/A PERFORMING PERFORM TO MATURITY
28 3,462,392 0 71.0% 1.37 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
29 2,965,026 0 60.5% 1.64 N/A PERFORMING PERFORM TO MATURITY
30 2,625,160 0 72.1% 1.44 N/A PERFORMING PERFORM TO MATURITY
31 2,511,800 0 71.8% 1.61 N/A PERFORMING PERFORM TO MATURITY
32 2,127,926 0 73.4% 1.48 N/A PERFORMING PERFORM TO MATURITY
33 2,065,670 0 68.9% 1.48 N/A PERFORMING PERFORM TO MATURITY
34 1,920,896 0 69.0% 1.46 N/A MONITORING PERFORMANCE PERFORM TO MATURITY
35 1,584,445 0 68.1% 1.78 N/A PERFORMING PERFORM TO MATURITY
36 1,376,988 0 30.6% 1.83 N/A PERFORMING PERFORM TO MATURITY
37 1,038,176 0 62.5% 1.47 N/A PERFORMING PERFORM TO MATURITY
38 594,167 0 68.0% 1.64 N/A PERFORMING PERFORM TO MATURITY
39 5,257,410 0 61.1% 1.53 N/A PERFORMING PERFORM TO MATURITY
40 4,462,222 0 66.8% 1.40 N/A PERFORMING PERFORM TO MATURITY
41 2,125,481 0 63.9% 1.40 N/A PERFORMING PERFORM TO MATURITY
42 1,978,044 0 65.9% 1.33 N/A PERFORMING PERFORM TO MATURITY
43 1,953,390 0 65.1% 1.54 N/A PERFORMING PERFORM TO MATURITY
44 1,930,710 0 65.4% 1.68 N/A PERFORMING PERFORM TO MATURITY
45 1,884,023 0 72.5% 1.54 N/A PERFORMING PERFORM TO MATURITY
46 1,541,329 0 65.6% 1.33 N/A PERFORMING PERFORM TO MATURITY
47 1,463,773 0 69.7% 1.35 N/A PERFORMING PERFORM TO MATURITY
48 1,137,165 0 29.5% 3.43 N/A PERFORMING PERFORM TO MATURITY
49 1,061,342 0 66.3% 1.28 N/A PERFORMING PERFORM TO MATURITY
50 965,317 0 62.3% 1.30 N/A PERFORMING PERFORM TO MATURITY
51 939,605 0 67.1% 1.54 N/A PERFORMING PERFORM TO MATURITY
52 11,159,561 39 74.4% 1.72 N/A NEGOTIATING MODIFICATIONS RESTRUCTURE/PERFORM TO MATURIT
53 5,456,805 0 51.5% 1.51 N/A PERFORMING PERFORM TO MATURITY
54 1,767,269 0 50.5% 2.36 N/A PERFORMING PERFORM TO MATURITY
55 8,916,111 0 56.6% 1.69 N/A PERFORMING PERFORM TO MATURITY
56 4,155,029 0 48.9% 1.76 N/A PERFORMING PERFORM TO MATURITY
57 3,955,222 0 71.9% 1.64 N/A PERFORMING PERFORM TO MATURITY
58 3,882,215 0 58.8% 1.40 N/A PERFORMING PERFORM TO MATURITY
59 1,714,926 0 57.2% 1.50 N/A PERFORMING PERFORM TO MATURITY
60 1,388,465 0 69.4% 2.03 N/A PERFORMING PERFORM TO MATURITY
61 1,483,543 0 45.5% 2.15 N/A PERFORMING PERFORM TO MATURITY
- -- --------- - ---- ----
TOT 209,522,446
===========
</TABLE>
Page - 10
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN TERMS
PORTFOLIO: ASC SERIES 1995 D1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 20-MAY-96
<CAPTION>
REMAIN
CURRENT ORIG LOAN INT
ASSET PRINCIPAL NOTE LOAN AMORT TERM IN RATE
NO BALANCE DATE DATE MONTHS INT RATE TYPE PAYMENT
<S> <C> <C> <C> <C> <C> <C> <C>
01 3,403,127 3/20/95 4/1/2020 107 11.130% F 33,941
02 8,838,305 6/28/95 7/1/2020 290 10.070% A 81,314
03 8,175,532 1/30/95 2/1/2020 225 11.260% F 82,415
04 4,005,832 5/3/95 6/1/2020 109 11.110% F 39,839
05 3,456,441 11/7/94 12/1/2019 223 10.840% F 33,856
06 3,364,272 6/28/95 7/1/2015 230 10.250% F 33,376
07 3,071,446 7/1/95 7/1/2020 170 10.320% A 28,798
08 2,781,481 6/30/95 7/1/2020 230 10.350% F 26,138
09 2,610,944 5/3/95 6/1/2020 109 11.110% F 25,967
10 2,507,621 11/7/94 12/1/2019 223 10.840% F 24,563
11 2,261,941 3/22/95 4/1/2015 227 10.000% F 22,196
12 2,264,841 12/7/94 1/1/2015 224 12.270% F 25,770
13 1,920,515 11/7/94 12/1/2019 223 10.840% F 18,812
14 1,788,682 11/7/94 12/1/2019 223 10.840% F 17,520
15 1,493,137 11/7/94 12/1/2019 223 10.840% F 14,625
16 1,106,093 11/23/94 12/1/2014 223 12.290% F 12,615
17 987,636 6/7/95 7/1/2015 230 9.930% F 9,604
18 8,744,794 1/27/95 2/1/2025 105 10.200% F 78,530
19 8,665,937 4/18/95 5/1/2020 108 9.360% F 75,599
20 8,493,607 6/12/95 7/1/2020 74 8.540% F 69,239
21 8,397,265 4/13/95 5/1/2020 72 10.040% F 77,206
22 5,744,370 4/10/95 5/1/2020 288 9.370% F 50,151
23 5,510,279 11/23/94 12/1/2024 67 10.250% F 49,734
24 4,482,619 11/18/94 12/1/2019 67 10.310% F 42,233
25 4,477,290 5/11/95 6/1/2020 73 9.450% F 39,299
26 4,139,639 12/16/94 1/1/2020 68 9.750% F 37,356
27 3,977,197 6/19/95 7/1/2025 110 8.420% F 30,530
28 3,462,392 4/5/95 3/1/2020 287 9.270% F 28,688
29 2,965,026 12/29/94 1/1/2020 284 10.170% F 27,621
30 2,625,160 4/17/95 5/1/2020 288 9.510% F 23,171
31 2,511,800 5/11/95 6/1/2020 73 9.050% F 21,360
32 2,127,926 3/30/95 4/1/2020 107 9.510% F 18,799
33 2,065,670 8/17/94 9/1/2019 280 9.650% F 18,567
34 1,920,896 11/23/94 12/1/2019 103 10.470% F 18,313
35 1,584,445 2/28/95 3/1/2020 70 10.350% F 14,936
36 1,376,988 11/18/94 12/1/2019 67 10.310% F 12,973
37 1,038,176 4/17/95 5/1/2020 288 9.510% F 9,164
38 594,167 2/28/95 3/1/2020 70 10.350% F 5,601
39 5,257,410 11/21/94 12/1/2024 67 9.690% F 45,302
40 4,462,222 6/30/95 7/1/2020 110 8.910% F 37,487
41 2,125,481 4/13/95 5/1/2020 288 9.690% F 19,025
42 1,978,044 1/31/95 2/1/2020 105 10.090% F 18,301
43 1,953,390 2/1/95 2/1/2020 285 10.110% F 18,100
44 1,930,710 5/26/95 6/1/2020 289 8.570% F 15,794
45 1,884,023 6/30/95 7/1/2020 290 8.900% F 15,815
46 1,541,329 12/19/94 1/1/2020 284 10.340% F 14,542
47 1,463,773 12/9/94 1/1/2020 68 10.540% F 14,016
48 1,137,165 2/1/95 2/1/2020 285 9.990% F 10,442
49 1,061,342 10/24/94 12/1/2019 283 10.460% F 10,119
50 965,317 12/22/94 1/1/2020 284 10.550% F 9,250
51 939,605 2/1/95 2/1/2020 285 10.110% F 8,706
52 11,159,561 5/12/95 5/1/2020 72 10.840% F 108,673
53 5,456,805 1/19/95 2/1/2020 69 12.075% F 58,232
54 1,767,269 12/27/94 1/1/2015 104 11.130% F 18,739
55 8,916,111 1/31/95 2/1/2020 165 11.070% F 88,666
56 4,155,029 12/13/94 1/1/2010 164 9.790% F 45,912
57 3,955,222 12/29/94 1/1/2020 104 10.415% F 37,525
58 3,882,215 11/10/94 12/1/2019 103 11.285% F 39,260
59 1,714,926 3/15/95 4/1/2020 71 10.500% F 16,334
60 1,388,465 6/15/95 7/1/2020 110 9.025% F 11,773
61 1,483,543 11/23/94 12/1/2019 67 10.950% F 14,648
TOTAL 209,522,446
</TABLE>
Page - 11
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY DESCRIPTION
PORTFOLIO: ASC SERIES 1995 D1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 14-MAY-96
<CAPTION>
ASSET PROP YEAR PROPERTY VALUATION VALUATION
NO NO PROPERTY TYPE CITY STATE ZIP BUILT UNITS NET SF VALUE DATE SOURCE
- ---- ---- ----------------- -------------- ---- ----- ---- ---- ------- ----------- ------ -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 HEALTH CARE LYONS IL 60534 1986 60 11,115 4,900,000 8/1/95 PROSPECTUS
02 1 LODGING LENOX MA 01240 1989 202 19,000,000 8/1/95 PROSPECTUS
03 1 LODGING SANTA FE NM 87501 1991 59 14,500,000 8/1/95 PROSPECTUS
04 1 LODGING SAVANNAH GA 31408 1987 121 5,760,000 8/1/95 PROSPECTUS
05 1 LODGING FLORENCE SC 29502 1985 165 6,100,000 8/1/95 PROSPECTUS
06 1 LODGING NASHVILLE TN 37203 1973 172 4,700,000 8/1/95 PROSPECTUS
07 1 LODGING NEW YORK NY 10019 1920 53 4,600,000 8/1/95 PROSPECTUS
08 1 LODGING LONGWOOD FL 32779 1973 192 5,500,000 8/1/95 PROSPECTUS
09 1 LODGING SAVANNAH GA 31419 1984 114 3,855,000 8/1/95 PROSPECTUS
10 1 LODGING HENDERSONVILLE NC 28739 1990 85 4,100,000 8/1/95 PROSPECTUS
11 1 LODGING IRVING TX 70562 1973 178 3,800,000 8/1/95 PROSPECTUS
12 1 LODGING DANVERS MA 01923 1973 129 3,600,000 8/1/95 PROSPECTUS
13 1 LODGING HARDEEVILLE SC 29927 1989 99 3,300,000 8/1/95 PROSPECTUS
14 1 LODGING SPARTANBURG SC 29303 1987 99 3,000,000 8/1/95 PROSPECTUS
15 1 LODGING FLORENCE SC 29501 1972 120 2,700,000 8/1/95 PROSPECTUS
16 1 LODGING SANTA FE NM 87505 1961 83 2,025,000 8/1/95 PROSPECTUS
17 1 LODGING CHERRY HILL NJ 08002 1983 40 2,400,000 8/1/95 PROSPECTUS
18 1 MULTI-FAMILY WARNER ROBINS GA 31093 1985 530 13,500,000 8/1/95 PROSPECTUS
19 1 MULTI-FAMILY LITHONIA GA 30038 1972 415 519,138 12,400,000 8/1/95 PROSPECTUS
20 1 MULTI-FAMILY LINDENWALD NJ 08021 1971 376 11,800,000 8/1/95 PROSPECTUS
21 1 MULTI-FAMILY AUSTIN TX 78759 1982 329 12,400,000 8/1/95 PROSPECTUS
22 1 MULTI-FAMILY TEMPE AZ 85281 1984 288 8,600,000 8/1/95 PROSPECTUS
23 1 MULTI-FAMILY PHOENIX AZ 85008 1983 461 7,600,000 8/1/95 PROSPECTUS
24 1 MULTI-FAMILY AUSTELL GA 30001 1972 267 266,321 8,200,000 8/1/95 PROSPECTUS
25 1 MULTI-FAMILY HOUSTON TX 77191 1980 524 6,200,000 8/1/95 PROSPECTUS
26 1 MULTI-FAMILY CLEVELAND OH 44111 1965 294 237,312 5,900,000 8/1/95 PROSPECTUS
27 1 MULTI-FAMILY HOUSTON TX 77086 1983 229 151,080 5,370,000 8/1/95 PROSPECTUS
28 1 MULTI-FAMILY ANN ARBOR MI 48103 1991 108 4,900,000 8/1/95 PROSPECTUS
29 1 MULTI-FAMILY METAIRIE LA 70001 1972 251 4,900,000 8/1/95 PROSPECTUS
30 1 MULTI-FAMILY ORANGE NJ 07050 1969 83 3,640,000 8/1/95 PROSPECTUS
31 1 MULTI-FAMILY HOUSTON TX 77052 1979 256 3,500,000 8/1/95 PROSPECTUS
32 1 MULTI-FAMILY AVENAL CA 93204 1983 150 186,176 2,900,000 8/1/95 PROSPECTUS
33 1 MULTI-FAMILY ABILENE TX 79601 1983 288 3,000,000 8/1/95 PROSPECTUS
34 1 MULTI-FAMILY LUBBOCK TX 79414 1974 124 123,604 2,800,000 8/1/95 PROSPECTUS
35 1 MULTI-FAMILY DALLAS TX 75228 1974 232 2,326,400 8/1/95 PROSPECTUS
36 1 MULTI-FAMILY TAMPA FL 33607 1967 217 170,886 4,500,000 8/1/95 PROSPECTUS
37 1 MULTI-FAMILY ORANGE NJ 07050 1977 43 1,660,000 8/1/95 PROSPECTUS
38 1 MULTI-FAMILY DALLAS TX 75228 1974 80 873,600 8/1/95 PROSPECTUS
39 1 MANUFACTURED HOUSI MT MORRIS MI 48458 1968 598 8,600,000 8/1/95 PROSPECTUS
40 1 MANUFACTURED HOUSI MONROE MI 48161 1971 431 6,675,000 8/1/95 PROSPECTUS
41 1 MANUFACTURED HOUSI BILLINGS MT 59105 1971 213 3,325,000 8/1/95 PROSPECTUS
42 1 MANUFACTURED HOUSI ALBUQUERQUE NM 87121 1986 176 3,000,000 8/1/95 PROSPECTUS
43 1 MANUFACTURED HOUSI BOZEMAN MT 59715 1972 203 3,000,000 8/1/95 PROSPECTUS
44 1 MANUFACTURED HOUSI PLAIN CITY OH 43064 1972 218 2,950,000 8/1/95 PROSPECTUS
45 1 MANUFACTURED HOUSI WICHITA KS 67216 1970 281 2,600,000 8/1/95 PROSPECTUS
46 1 MANUFACTURED HOUSI VERO BEACH FL 32966 1971 107 2,350,000 8/1/95 PROSPECTUS
47 1 MANUFACTURED HOUSI WEST JORDAN UT 84088 1974 170 2,100,000 8/1/95 PROSPECTUS
48 1 MANUFACTURED HOUSI BURNSVILLE MN 55337 1972 223 3,850,000 8/1/95 PROSPECTUS
49 1 MANUFACTURED HOUSI CLEARWATER FL 34620 1964 94 1,600,000 8/1/95 PROSPECTUS
50 1 MANUFACTURED HOUSI ROSEBERG OR 97470 1972 90 1,550,000 8/1/95 PROSPECTUS
51 1 MANUFACTURED HOUSI BOZEMAN MT 59715 1972 92 1,400,000 8/1/95 PROSPECTUS
52 1 HEALTH CARE WAYNE NJ 07470 1989 150 15,000,000 8/1/95 PROSPECTUS
53 1 HEALTH CARE WEYMOUTH MA 02188 1963 205 10,600,000 8/1/95 PROSPECTUS
54 1 HEALTH CARE OREGON CITY OR 97045 1968 96 3,500,000 8/1/95 PROSPECTUS
55 1 RETAIL LOS ANGELES CA 90015 1993 60,601 15,750,000 8/1/95 PROSPECTUS
56 1 RETAIL DEWITT NY 13214 1962 15 178,259 8,500,000 8/1/95 PROSPECTUS
57 1 RETAIL FREDRICKSBURG VA 22408 1978 114,527 5,500,000 8/1/95 PROSPECTUS
58 1 RETAIL TOWNSEND MA 01469 1986 97,192 6,600,000 8/1/95 PROSPECTUS
59 1 RETAIL HENREITTA NY 14623 1986 36,153 3,000,000 8/1/95 PROSPECTUS
60 1 RETAIL HALTOM TX 76111 1956 60,000 2,000,000 8/1/95 PROSPECTUS
61 1 WAREHOUSE ALBUQUERQUE NM 87107 1976 638 3,260,000 8/1/95 PROSPECTUS
</TABLE>
Page - 12
<PAGE>
<TABLE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - PROPERTY PERFORMANCE
PORTFOLIO: ASC SERIES 1995 D1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 14-MAY-96
<CAPTION>
BASELINE OR MOST YTD YTD
ASSET PROP MOST RECENT NOI RECENT YTD PERIOD PERIOD PERCENT
NO NO ANNUAL NOI AS OF NOI SOURCE NOI BEGIN ENDING YTD NOI SOURCE OCCUPIED AS OF
==== === =========== ====== =========== ========== ====== ======== ============== ======== ========
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01 1 616,096 8/1/95 PROSPECTUS $ 427,447 1/1/95 11/30/95 BORROWER 89.0% 8/1/95
02 1 2,065,087 8/1/95 PROSPECTUS $2,935,218 1/1/95 11/30/95 BORROWER 77.0% 11/30/95
03 1 1,538,120 8/1/95 PROSPECTUS $1,404,396 1/1/95 9/30/95 BORROWER 81.0% 9/30/95
04 1 677,945 8/1/95 PROSPECTUS $ 642,086 1/1/95 9/30/95 BORROWER 74.0% 8/1/95
05 1 745,993 8/1/95 PROSPECTUS $ 445,314 1/1/95 9/30/95 BORROWER 66.1% 9/30/95
06 1 595,501 8/1/95 PROSPECTUS 60.0% 8/1/95
07 1 502,327 8/1/95 PROSPECTUS $ 287,300 1/1/95 9/30/95 BORROWER 97.0% 8/1/95
08 1 442,687 8/1/95 PROSPECTUS $ 511,094 9/1/94 8/31/95 BORROWER 64.3% 8/31/95
09 1 434,883 8/1/95 PROSPECTUS $ 367,358 1/1/95 9/30/95 BORROWER 70.0% 8/1/95
10 1 517,855 8/1/95 PROSPECTUS $ 433,548 1/1/95 9/30/95 BORROWER 75.8% 9/30/95
11 1 614,957 8/1/95 PROSPECTUS $ 543,537 1/1/95 9/30/95 BORROWER 77.0% 8/1/95
12 1 470,449 8/1/95 PROSPECTUS $ 454,273 1/1/95 9/30/95 BORROWER 65.2% 10/31/95
13 1 388,242 8/1/95 PROSPECTUS $ 408,646 1/1/95 9/30/95 BORROWER 70.1% 9/30/95
14 1 380,567 8/1/95 PROSPECTUS $ 324,274 1/1/95 9/30/95 BORROWER 56.8% 9/30/95
15 1 332,464 8/1/95 PROSPECTUS 69.7% 9/30/95
16 1 229,302 8/1/95 PROSPECTUS $ 113,096 1/1/95 12/31/95 BORROWER 67.0% 8/1/95
17 1 243,255 8/1/95 PROSPECTUS $ 290,592 1/1/95 12/31/95 BORROWER 67.6% 12/31/95
18 1 1,313,110 8/1/95 PROSPECTUS $1,041,727 1/1/95 12/31/95 BORROWER 86.0% 2/15/96
19 1 1,220,298 8/1/95 PROSPECTUS $1,048,167 1/1/95 9/25/95 BORROWER 97.0% 8/1/95
20 1 1,072,140 8/1/95 PROSPECTUS $ 980,686 1/1/95 12/31/95 BORROWER 94.4% 12/31/95
21 1 1,261,882 8/1/95 PROSPECTUS $ 733,999 1/1/95 9/30/95 BORROWER 96.0% 9/25/95
22 1 926,197 8/1/95 PROSPECTUS $ 780,008 1/1/95 11/30/95 BORROWER 94.0% 8/1/95
23 1 827,531 8/1/95 PROSPECTUS $ 670,613 1/1/95 9/30/95 BORROWER 95.2% 9/30/95
24 1 746,855 8/1/95 PROSPECTUS $ 488,173 1/1/95 9/30/95 BORROWER 98.0% 8/1/95
25 1 821,450 8/1/95 PROSPECTUS $ 173,642 5/11/95 9/30/95 MANAGEMENT COMPANY 72.0% 10/3/95
26 1 598,393 8/1/95 PROSPECTUS 90.0% 12/15/95
27 1 541,800 8/1/95 PROSPECTUS $ 491,563 1/1/95 12/31/95 PROPERTY MANAGEMENT 89.1% 12/31/95
28 1 471,783 8/1/95 PROSPECTUS $ 279,244 1/1/95 9/30/95 BORROWER 100.0% 10/31/95
29 1 545,120 8/1/95 PROSPECTUS $ 449,354 1/1/95 9/30/95 BORROWER 93.2% 9/30/95
30 1 399,441 8/1/95 PROSPECTUS $ 785,624 1/1/95 9/30/95 BORROWER 95.2% 9/30/95
31 1 413,519 8/1/95 PROSPECTUS $ 182,467 1/1/95 9/30/95 MANAGEMENT COMPANY 90.2% 9/30/95
32 1 334,592 8/1/95 PROSPECTUS $ 65,201 1/1/96 2/29/96 MANAGEMENT COMPANY 91.3% 9/30/95
33 1 329,505 8/1/95 PROSPECTUS $ 579,741 1/1/95 12/31/95 BORROWER 95.0% 2/9/96
34 1 320,147 8/1/95 PROSPECTUS $ 155,828 1/1/95 12/31/95 BORROWER 94.4% 2/15/96
35 1 319,856 8/1/95 PROSPECTUS $ 228,772 3/1/95 9/30/95 BORROWER 99.1% 10/2/95
36 1 284,434 8/1/95 PROSPECTUS 90.0% 8/1/95
37 1 161,947 8/1/95 PROSPECTUS $ 224,086 1/1/95 9/30/95 BORROWER 93.0% 9/30/95
38 1 110,295 8/1/95 PROSPECTUS $ 78,887 3/1/95 9/30/95 BORROWER 98.8% 10/2/95
39 1 834,796 8/1/95 PROSPECTUS $ 704,129 1/1/95 12/31/95 BORROWER 93.0% 1/11/96
40 1 630,962 8/1/95 PROSPECTUS $ 247,582 7/1/95 9/30/95 BORROWER 97.0% 8/1/95
41 1 319,910 8/1/95 PROSPECTUS 100.0% 8/1/95
42 1 293,490 8/1/95 PROSPECTUS $ 200,279 1/1/95 9/30/95 BORROWER 100.0% 8/1/95
43 1 335,485 8/1/95 PROSPECTUS 100.0% 8/1/95
44 1 319,524 8/1/95 PROSPECTUS 100.0% 8/1/95
45 1 293,783 8/1/95 PROSPECTUS $ 130,605 7/15/95 12/31/95 MANAGEMENT COMPANY 95.0% 12/1/95
46 1 233,830 8/1/95 PROSPECTUS 99.0% 8/1/95
47 1 228,568 8/1/95 PROSPECTUS $ 148,040 1/1/95 9/30/95 BORROWER 100.0% 8/1/95
48 1 430,423 8/1/95 PROSPECTUS $ 356,332 1/1/95 9/30/95 BORROWER 99.1% 10/28/95
49 1 155,827 8/1/95 PROSPECTUS $ 114,321 1/1/95 9/30/95 BORROWER 98.0% 11/30/95
50 1 144,363 8/1/95 PROSPECTUS $ 129,243 1/1/95 9/30/95 BORROWER 98.9% 9/30/95
51 1 161,794 8/1/95 PROSPECTUS 100.0% 8/1/95
52 1 2,255,203 8/1/95 PROSPECTUS $1,834,805 1/1/95 12/31/95 BORROWER 98.6% 12/31/95
53 1 1,057,390 8/1/95 PROSPECTUS $ 973,443 1/1/95 12/31/95 BORROWER 94.2% 12/31/95
54 1 532,028 8/1/95 PROSPECTUS $ 355,743 1/1/95 10/31/95 BORROWER 85.0% 8/1/95
55 1 1,800,573 8/1/95 PROSPECTUS 95.0% 8/1/95
56 1 968,857 8/1/95 PROSPECTUS $1,066,684 1/1/95 12/31/95 BORROWER 96.0% 12/31/95
57 1 739,149 8/1/95 PROSPECTUS $ 696,890 1/1/95 12/31/95 BORROWER 100.0% 2/15/96
58 1 658,350 8/1/95 PROSPECTUS $ 610,519 1/1/95 12/31/95 BORROWER 87.3% 12/31/95
59 1 293,656 8/1/95 PROSPECTUS 90.0% 8/1/95
60 1 287,315 8/1/95 PROSPECTUS $ 195,229 1/1/95 9/30/95 BORROWER 100.0% 8/1/95
61 1 377,168 8/1/95 PROSPECTUS $ 401,226 1/1/95 12/31/95 MANAGEMENT COMPANY 75.0% 1/17/96
</TABLE>
Page - 13
<PAGE>
MIDLAND LOAN SERVICES, L.P. - MASTER SERVICER
LOAN PORTFOLIO ANALYSIS SYSTEM - LOAN COMMENTS
PORTFOLIO: ASC SERIES 1995 D1
REPORTING PERIOD: APRIL, 1996
DATE PRINTED: 21-MAY-96
LOAN 01 - 1: Partial Year Statement Comment: 11/30/95 - YEAR TO DATE
REVENUE IS 5% BELOW BASELINE EXPECTATIONS, WHILE YEAR TO DATE EXPENSES ARE
20% ABOVE BASELINE EXPECTATIONS.
LOAN 02 - 1:
LOAN 03 - 1:
LOAN 04 - 1:
LOAN 05 - 1: Partial Year Statement Comment: 9/30/95 - REPAIR AND
MAINTENANCE EXPENSE IS 115% GREATER THAN BASELINE ESTIMATE.
LOAN 06 - 1: Status Comment: CONSISTENTLY DELINQUENT. BORROWER HAS NOT
SUBMITTED CURRENT FINANCIAL STATEMENTS. BORROWER IS MEETING WITH HOLIDAY
INN CONCERNING FRANCHISOR'S UPGRADE REQUIREMENTS.
LOAN 07 - 1: Partial Year Statement Comment: 9/30/95 - YEAR TO DATE
OPERATING EXPENSES ARE 53% ABOVE BASELINE PROJECTION. GENERAL AND
ADMINISTRATIVE EXPENSES ARE 124% ABOVE BASELINE AND UTILITY EXPENSES ARE
39% ABOVE BASELINE.
LOAN 08 - 1:
LOAN 09 - 1:
LOAN 10 - 1:
LOAN 11 - 1:
LOAN 12 - 1:
LOAN 13 - 1:
LOAN 14 - 1:
LOAN 15 - 1:
LOAN 16 - 1: Status Comment: BORROWER IS ATTEMPTING TO REPOSITION THE
HOTEL IN THE MARKET DUE TO INCREASED COMPETITION. DSCR AS OF 12/31/95
STATEMENT IS 0.75. Partial Year Statement Comment: 12/31/95 - ANNUAL
REVENUE IS 19% BELOW BASELINE AND 18% BELOW PRIOR YEAR. BORROWER INDICATES
IN BUSINESS PLAN THAT THEY ARE ATTEMPTING TO REPOSITION HOTEL IN MARKET DUE
TO INCREASED COMPETITION IN THEIR CURRENT MARKET SEGMENT.
LOAN 17 - 1:
LOAN 18 - 1: Partial Year Statement Comment: 12/31/95 - REVENUE IS 6%
BELOW BASELINE PROJECTION WHILE REPAIR AND MAINTENANCE EXPENSE IS 70% ABOVE
BASELINE PROJECTION.
LOAN 19 - 1:
LOAN 20 - 1: Partial Year Statement Comment: 12/31/95 - REVENUE IS 10%
BELOW BASELINE PROJECTION.
LOAN 21 - 1: Partial Year Statement Comment: 9/30/95 - YEAR TO DATE
REVENUE IS 10% BELOW BASELINE EXPECTATION, WHILE YEAR TO DATE EXPENSES ARE
10% ABOVE BASELINE EXPECTATION. UTILITY, REPAIR & MAINTENANCE, AND GENERAL
& ADMINISTRATIVE EXPENSES EXCEEDED BASELINE ESTIMATES.
LOAN 22 - 1:
LOAN 23 - 1:
LOAN 24 - 1:
LOAN 25 - 1: Partial Year Statement Comment: 9/30/95 - YEAR TO DATE
STATEMENT INCLUDES $6,645 IN ONE TIME EXPENSES FOR CONSULTANTS AND PROPERTY
TAX CONSULTANTS. 4 1/2 MONTH STATEMENT APPEARS TO INCLUDE 54% OF ANNUAL
ESTIMATED INSURANCE EXPENSE AND 82% OF ANNUAL ESTIMATED PROPERTY TAX.
LOAN 26 - 1:
LOAN 27 - 1:
LOAN 28 - 1: Status Comment: THIS LOAN IS CONSISTENTLY DELINQUENT AND
LATE CHARGES ARE ACCUMULATING. Partial Year Statement Comment: 9/30/95
- - YEAR TO DATE EXPENSES ARE 25% ABOVE BASELINE LEVEL AND 12% ABOVE 1994.
VARIANCES ARE IN UTILITY AND GENERAL AND ADMINISTRATIVE EXPENSES.
Page - 14
<PAGE>
LOAN 29 - 1: Partial Year Statement Comment: 9/30/95 - PROPERTY
SUFFERED FLOOD DAMAGE DURING 1995. R & M IS 475% ABOVE THE BASELINE LEVEL.
$436,224.70 IN LOSS DRAFTS RECEIVED FROM INSURANCE COMPANY WERE ADDED TO
OFFSET INCREASED REPAIRS ASSOCIATED WITH DAMAGE.
LOAN 30 - 1: Partial Year Statement Comment: 9/30/95 - INCOME
STATEMENT INCLUDES NET $72,555 REFUND FROM PROPERTY TAX APPEAL.
LOAN 31 - 1: Partial Year Statement Comment: 9/30/95 - PROPERTY
MANAGER INDICATES THAT THIRD QUARTER OPERATIONS REFLECT A CHANGE IN
MANAGEMENT AND THE BEGINNING OF A SECOND PHASE OF RENOVATIONS.
LOAN 32 - 1:
LOAN 33 - 1: Partial Year Statement Comment: 12/31/95 - BASE RENTAL
REVENUE IS 36% HIGHER THAN BASELINE PROJECTION.
LOAN 34 - 1: Status Comment: DSCR AS OF 12/31/95 STATEMENT IS 0.71.
Partial Year Statement Comment: 12/31/95 - NOI DID NOT MEET BASELINE
EXPECTATIONS DUE TO HIGHER THAN PROJECTED EXPENSES FOR REPLACING CARPETS,
PAINTING, AND OTHER REPAIRS. BORROWER INDICATES THAT THESE ARE ROUTINE
EXPENSES.
LOAN 35 - 1: Partial Year Statement Comment: 9/30/95 - BORROWER
REPORTS ALL ITEMS FOR PHASES II, III, AND IV ON THE SAME INCOME STATEMENT.
PRORATED STATEMENT BASED ON THE NUMBER OF UNITS IN ORDER TO REPORT ONLY
OPERATING RESULTS OF PHASES III & IV ON THIS LOAN.
LOAN 36 - 1:
LOAN 37 - 1:
LOAN 38 - 1: Partial Year Statement Comment: 9/30/95 - BORROWER
REPORTS ON PHASES II, III, & IV ON A SINGLE OPERATING STATEMENT. OPERATING
RESULTS WERE PRORATED BASED ON THE NUMBER OF UNITS TO REFLECT PHASE II
OPERATIONS ON THIS ASSET.
LOAN 39 - 1:
LOAN 40 - 1: Partial Year Statement Comment: 9/30/95 - YEAR TO DATE
OPERATING STATEMENT DOES NOT INCLUDE ANY INSURANCE EXPENSE AND INCLUDES ONLY
3% OF THE PROPERTY TAX EXPENSE ESTIMATE FROM SERVICING INFORMATION.
LOAN 41 - 1:
LOAN 42 - 1: Partial Year Statement Comment: 9/30/95 - YEAR TO DATE
BASE RENTAL REVENUE IS 5% BELOW BASELINE PROJECTION, WHILE YEAR TO DATE
EXPENSES ARE 5% ABOVE BASELINE PROJECTIONS.
LOAN 43 - 1:
LOAN 44 - 1:
LOAN 45 - 1: Partial Year Statement Comment: 12/31/95 - RECLASSIFIED
$68,621 FROM OPERATING EXPENSE TO CAPITAL EXPENSE. BORROWER INDICATED THAT
THESE WERE FEES ASSOCIATED WITH CLOSING.
LOAN 46 - 1:
LOAN 47 - 1: Partial Year Statement Comment: 9/30/95 - REPAIR AND
MAINTENANCE EXPENSE IS $42,900 OVER BASELINE ESTIMATE YEAR TO DATE.
LOAN 48 - 1:
LOAN 49 - 1:
LOAN 50 - 1:
LOAN 51 - 1:
LOAN 52 - 1: Status Comment: LAWSUIT AGAINST BORROWER FILED BY
CONTRACTOR FOR MECHANIC'S LIEN DISPUTE.
LOAN 53 - 1:
LOAN 54 - 1:
LOAN 55 - 1:
LOAN 56 - 1:
LOAN 57 - 1: Partial Year Statement Comment: 12/31/95 - OPERATING
STATEMENT DID NOT INCLUDE INSURANCE EXPENSE. ENTERED ESTIMATE OF INSURANCE
EXPENSE BASED ON SERVICING INFORMATION.
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LOAN 58 - 1:
LOAN 59 - 1:
LOAN 60 - 1:
LOAN 61 - 1:
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