================================================================================
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) September 25, 1996
SUPERIOR BANK FSB (as depositor under the Pooling and Servicing Agreement, dated
as of March 1, 1996, providing for the issuance of AFC Mortgage Loan Asset
Backed Certificates, Series 1996-1)
Superior Bank FSB
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
United States 33-92770 36-1414142
- ---------------------------- ----------- ----------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
One Lincoln Centre
Oakbrook Terrace, Illinois 60181
- ---------------------------- ------------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (708) 916-4000
================================================================================
<PAGE>
Item 5. Other Events
On September 25, 1996 (a "Remittance Date") a scheduled remittance was made
to the Certificateholders with respect to AFC Mortgage Loan Asset Backed
Certificates, Series 1996-1, issued pursuant to a Pooling and Servicing
Agreement, dated as of March 1, 1996, among Superior Band FSB., as Depositor,
Lee Servicing Company, a division of Superior Bank FSB., as Servicer and LaSalle
National Bank, as Trustee. The information contained in the Servicer's Monthly
Remittance Report to the Trustee, which shall be forwarded by the Trustee to the
Certificateholders, is attached hereto as Exhibit 21.1 and is incorporated
herein by reference.
Capitalized terms used herein and not defined shall have the same meanings
ascribed to them in the pooling and Servicing Agreement.
Items 2 through 4 and Items 6 and 8 are not included because they are not
applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
21.1 Monthly Remittance Report for the month of September, 1996.
<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 thereunto duly authorized.
SUPERIOR BANK F.B.
By: /s/ William C. Bracken
--------------------------------------
Name: William C. Bracken
Title: Executive Vice President
Dated: September __, 1996
<PAGE>
EXHIBITS TABLE
21.1 Monthly Remittance Report for the month of September, 1996.
EXHIBIT 21.1
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK, FSB
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
1996-1 SUB-POOL 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF MARCH 1, 1996 LEE SERVICING COMPANY REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1996-1 SUB-POOL 1 FOR SEPTEMBER 25, 1996,
THE REMITTANCE DATE.
DUE PERIOD ENDED: SEPTEMBER 1, 1996
1 Total Actual Principal Collections 1,137,060.45
2 Total Actual Interest Collections 732,976.89
3 Additional Proceeds 0.00
------------
4 Aggregate Amount Received: 1,870,037.34
Monthly Advance
5 Delinquent Interest 4,188.20
6 Compensating Interest 6,162.92
7 Amounts Held for Future Distributions 0.00
------------
8 Available Remittance Amount: 1,880,388.46
9 Less: Service Fees 42,137.60
10 Less: Expense Account Deposit: 1,906.33
11 Plus: Cross Collateral Deposit 0.00
------------
12 Adjusted Remittance Amount: 1,836,344.53
Remaining Amount Available:
13 Adjusted Remittance Amount 1,836,344.53
14 Insured Payments 0.00
15 Cross Collateral Withdrawal 0.00
16 Insurance Account Deposit @ 13 bp
the Ending Principal balance 8,394.04
17 Class Remittance Amounts 1,827,950.49
18 Non-Recoverable Advances Not
Previously Reimbursed 0.00
------------
19 Total Remaining Amount Available: 0.00
============
Amount of Reimbursements Pursuant to Sec. 5.04
20 Servicing Fee 0.00
21 Monthly Advances and Servicer Advances 0.00
22 Other Mortgage Payments 0.00
23 Interest Earned on P&I Deposits 0.00
24 Additional Servicing Compensation 0.00
1 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK, FSB
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
1996-1 SUB-POOL 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF MARCH 1, 1996 LEE SERVICING COMPANY REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1996-1 SUB-POOL 1 FOR SEPTEMBER 25, 1996,
THE REMITTANCE DATE.
DUE PERIOD ENDED: SEPTEMBER 1, 1996
<TABLE>
<CAPTION>
Total Class A1 Class A2 Class A3
----- -------- -------- --------
<S> <C> <C> <C> <C>
25 Number of Loans 1289
26 Opening Loan balance 78,620,517.07 17,622,374.76 34,998,934.11 7,499,771.60
27 Additional Principal Reduction 1,230,168.55 1,230,168.55 0.00 0.00
28 Realized Losses, LTD 0.00 0.00 0.00 0.00
29 Carryforward amount 0.00 0.00 0.00 0.00
------------- ------------- ------------- ------------
30 Opening Class Principal Balance 77,390,348.52 16,392,206.21 34,998,934.11 7,499,771.60
31 Pool Factor per Loan 94.7235146% 21.2317768% 42.1673905% 9.0358694%
32 Factor per Class Balance 93.2413838% 19.7496460% 42.1673905% 9.0358694%
33 Excess Spread 0.00
34 Additional Principal due Class A 239,753.42 239,753.42
35 Cross Collateral Deposit 0.00 0.00
36 Cross Collateral Withdrawal 0.00
37 Interest Remittance @ Class Yield 451,136.62 89,064.32 199,493.92 44,498.64
Principal Reductions:
38 Prepayments - Number 12 12
39 Prepayments - Dollar 1,054,212.03 1,054,212.03 0.00 0.00
40 Net Liquidation Proceeds 0.00 0.00 0.00 0.00
41 Curtailments 21,419.50 21,419.50 0.00 0.00
42 Normal and Excess Payments 61,428.92 61,428.92 0.00 0.00
------------- ------------- ------------- ------------
43 Total Principal Remittance 1,137,060.45 1,137,060.45 0.00 0.00
44 Additional Principal Reduction 239,753.42 239,753.42 0.00 0.00
------------- ------------- ------------- ------------
45 Total Remittance 1,827,950.49 1,465,878.19 199,493.92 44,498.64
============= ============= ============= ============
46 Current Month Realized Loss--Number 0 0
47 Current Month Realized Loss--dollar 0.00 0.00
Class Principal Balance Reconciliation
48 Number of Loans 1277
49 Loan balance 77,483,456.62 16,485,314.31 34,998,934.11 7,499,771.60
50 Additional Principal Reduction, LTD 1,469,921.97 1,469,921.97 0.00 0.00
51 Realized Losses, LTD 0.00 0.00 0.00 0.00
------------- ------------- ------------- ------------
52 Ending Class Principal Balance 76,013,534.65 15,015,392.34 34,998,934.11 7,499,771.60
53 Class Factor per Loan Balance 93.3535623% 19.8618245% 42.1673905% 9.0358694%
54 Class Factor per Class Balance 91.5825719% 18.0908341% 42.1673905% 9.0358694%
<CAPTION>
Class A4 Class A5 Class R
-------- -------- -------
<S> <C> <C> <C>
25 Number of Loans
26 Opening Loan balance 9,999,695.46 8,499,741.14
27 Additional Principal Reduction 0.00 0.00
28 Realized Losses, LTD 0.00 0.00
29 Carryforward amount 0.00 0.00
------------ ------------
30 Opening Class Principal Balance 9,999,695.46 8,499,741.14
31 Pool Factor per Loan 12.0478259% 10.2406520%
32 Factor per Class Balance 12.0478259% 10.2406520%
33 Excess Spread 0.00
34 Additional Principal due Class A
35 Cross Collateral Deposit
36 Cross Collateral Withdrawal 0.00
37 Interest Remittance @ Class Yield 62,831.42 55,248.32
Principal Reductions:
38 Prepayments - Number
39 Prepayments - Dollar 0.00 0.00
40 Net Liquidation Proceeds 0.00 0.00
41 Curtailments 0.00 0.00
42 Normal and Excess Payments 0.00 0.00
------------ ------------ ----
43 Total Principal Remittance 0.00 0.00
44 Additional Principal Reduction 0.00 0.00
------------ ------------ ----
45 Total Remittance 62,831.42 55,248.32 0.00
============ ============ ====
46 Current Month Realized Loss--Number
47 Current Month Realized Loss--dollar
Class Principal Balance Reconciliation
48 Number of Loans
49 Loan balance 9,999,695.46 8,499,741.14
50 Additional Principal Reduction, LTD 0.00 0.00
51 Realized Losses, LTD 0.00 0.00
------------ ------------
52 Ending Class Principal Balance 9,999,695.46 8,499,741.14
53 Class Factor per Loan Balance 12.0478259% 10.2406520%
54 Class Factor per Class Balance 12.0478259% 10.2406520%
</TABLE>
2 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK, FSB
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
1996-1 SUB-POOL 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF MARCH 1, 1996 LEE SERVICING COMPANY REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1996-1 SUB-POOL 1 FOR SEPTEMBER 25, 1996,
THE REMITTANCE DATE.
DUE PERIOD ENDED: SEPTEMBER 1, 1996
<TABLE>
<CAPTION>
Total Class A1 Class A2 Class A3
----- -------- -------- --------
<S> <C> <C> <C> <C>
55 Weighted Note Rate - THIS remittance 11.35281%
56 Weighted Note Rate - NEXT remittance 11.34686%
57 Pass-Through Rate - THIS remittance 6.520% 6.840% 7.120%
58 Weighted Average Remaining Term 220.30
59 Original Pool - Principal Balance 52,491,569.72 13,913,428.12 22,134,999.28 4,743,214.13
60 Original Pool - Pre-Funding Account 30,508,430.28 8,086,571.88 12,865,000.72 2,756,785.87
61 Original Pool - Additional Principal Reduction 0.00 0.00 0.00 0.00
------------- ------------- ------------- ------------
62 Original Pool Total 83,000,000.00 22,000,000.00 35,000,000.00 7,500,000.00
63 Original Pool - Number of Loans 864
Class A4 Class A5
-------- --------
55 Weighted Note Rate - THIS remittance
56 Weighted Note Rate - NEXT remittance
57 Pass-Through Rate - THIS remittance 7.540% 7.800%
58 Weighted Average Remaining Term
59 Original Pool - Principal Balance 6,324,285.51 5,375,642.68
60 Original Pool - Pre-Funding Account 3,675,714.49 3,124,357.32
61 Original Pool - Additional Principal Reduction 0.00 0.00
------------- -------------
62 Original Pool Total 10,000,000.00 8,500,000.00
63 Original Pool - Number of Loans
Class A Over-Collateralization Reconciliation Beginning of Month Current Month End of Month
--------------------------------------------- ------------------ ------------- ------------
64 Additional Principal Reduction, LTD 1,230,168.55 239,753.42 1,469,921.97
65 Cross Collateral Deposit, LTD 0.00 0.00 0.00
66 Less: Realized Losses, LTD 0.00 0.00 0.00
------------ ---------- ------------
67 Over-Collateralization of Principal 1,230,168.55 239,753.42 1,469,921.97
============ ========== ============
68 Base Overcollateralization Requirement 4,150,000.00
69 Required Over-Collateralization Amount 4,150,000.00
Current Month Subordinated Amount Beginning of Month Current Month End of Month
--------------------------------- ------------------ ------------- ------------
70 Original Subordinated Amount 8,798,000.00 N/A 8,798,000.00
71 Less: Cumulative Realized Losses 0.00 0.00 0.00
72 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
------------ --------- ------------
73 Current Subordinated Amount 8,798,000.00 8,798,000.00
============ ========= ============
Nonrecoverable Advance Reconciliation
-------------------------------------
74 Beginning of Month 0.00
75 Current Month Unpaid Nonrecoverable Advance 0.00
76 Less: Current Month Reimbursement 0.00
---------
77 End of Month 0.00
=========
</TABLE>
3 of 4
<PAGE>
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK, FSB
DESIGNATED SERVICER
SERVICER'S CERTIFICATE
1996-1 SUB-POOL 1
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT
DATED AS OF MARCH 1, 1996 LEE SERVICING COMPANY REPORTS THE FOLLOWING
INFORMATION PERTAINING TO SERIES 1996-1 SUB-POOL 1 FOR SEPTEMBER 25, 1996,
THE REMITTANCE DATE.
DUE PERIOD ENDED: SEPTEMBER 1, 1996
<TABLE>
<CAPTION>
Class Class Class Class
A1 A2 A3 A4
-------------- -------------- ------------- --------------
<S> <C> <C> <C> <C> <C>
78 Total Class Principal - Original Pool $83,000,000.00 $22,000,000.00 $35,000,000.00 $7,500,000.00 $10,000,000.00
79 Interest Remittance Amount 451,136.62 89,064.32 199,493.92 44,498.64 62,831.42
80 Interest Rate Factor / 1000 5.435381 4.048378 5.699826 5.933152 6.283142
81 Total Principal Collections 1,137,060.45 1,137,060.45 0.00 0.00 0.00
82 Additional Principal Reduction 239,753.42 239,753.42 0.00 0.00 0.00
-------------- -------------- -------------- ------------- --------------
83 Principal Remittance Amount 1,376,813.87 1,376,813.87 0.00 0.00 0.00
84 Principal Payment Factor/1000 16.588119 62.582449 0.000000 0.000000 0.000000
85 Principal Factor 915.825719 682.517833 999.969546 999.969546 999.969546
86 Prior Month Principal Factor 932.413838 745.100282 999.969546 999.969546 999.969546
</TABLE>
Class
A5
------------
78 Total Class Principal - Original Pool $8,500,000.00
79 Interest Remittance Amount 55,248.32
80 Interest Rate Factor / 1000 6.499802
81 Total Principal Collections 0.00
82 Additional Principal Reduction 0.00
-------------
83 Principal Remittance Amount 0.00
84 Principal Payment Factor/1000 0.000000
85 Principal Factor 999.969546
86 Prior Month Principal Factor 999.969546
4 of 4
<PAGE>
Page 1 of 4
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK FSB,
DESIGNATED SERVICER
SERVICERS CERTIFICATE
1996-1 SUB POOL 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED
AS OF MARCH 01, 1996 AND THE INSURANCE AGREEMENT DATED AS OF MARCH 22, 1996,
LEE SERVICING COMPANY REPORTS THE FOLLOWING INFORMATION PERTAINING TO
SERIES 1996-1 SUB POOL 2 FOR SEPTEMBER 25, 1996, THE REMITTANCE DATE.
PERIOD ENDED: SEPTEMBER 1, 1996
1 Total Actual Principal Collections 1,857,225.97
2 Total Actual Interest Collections 589,649.76
3 Additional Proceeds 0.00
--------------
4 Total Collections 2,446,875.73
Monthly Advance
5 Delinquent Interest 81,192.70
6 Compensating Interest 7,875.09
7 Amounts Held for Future Distributions 0.00
8 Supplemental Interest 0.00
--------------
9 Available Remittance Amount: 2,535,943.52
10 Less: Service Fees 37,157.05
11 Less: Expense Account Deposit 1,846.60
12 Cross Collateral Deposit 0.00
--------------
13 Adjusted Remittance Amount: 2,496,939.87
Remaining Amount Available:
14 Adjusted Remittance Amount 2,496,939.87
15 Insured Payments 0.00
16 Cross Collateral Withdrawal 0.00
17 Insurance Account Deposit @ 13bp
the ending Class A P-balance 8,371.96
18 Class Remittance Amounts 2,488,567.91
19 Non-Recoverable Advances Not
Previously Reimbursed 0.00
--------------
20 Total Remaining Amount Available: 0.00
==============
Amount of Reimbursements Pursuant to Sec. 5.04
21 Servicing Fee 0.00
22 Monthly Advances and Servicer Advances 0.00
23 Other Mortgage Payments 0.00
24 Interest Earned on P&I Deposits 0.00
25 Additional Servicing Compensation 0.00
<PAGE>
Page 2 of 4
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK FSB,
DESIGNATED SERVICER
SERVICERS CERTIFICATE
1996-1 SUB POOL 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED
AS OF MARCH 01, 1996 AND THE INSURANCE AGREEMENT DATED AS OF MARCH 22, 1996,
LEE SERVICING COMPANY REPORTS THE FOLLOWING INFORMATION PERTAINING TO
SERIES 1996-1 SUB POOL 2 FOR SEPTEMBER 25, 1996, THE REMITTANCE DATE.
PERIOD ENDED: SEPTEMBER 1, 1996
<TABLE>
<CAPTION>
Total Class 2-A Class R
----- --------- -------
<S> <C> <C> <C>
26 Number of Loans 689
27 Opening Loan Balance 79,136,871.38 79,136,871.38
28 Additional Principal Reduction, LTD 3,415,636.44 3,415,636.44
29 Realized Losses, LTD 0.00 0.00
30 Carryforward Amount 0.00 0.00
---------------- --------------
31 Opening Class Principal Balance 75,721,234.94 75,721,234.94
32 Pool Factor per Loan Balance 95.3456282% 95.3456282%
33 Factor per Class Balance 91.2304035% 91.2304035%
34 Excess Spread 0.00 0.00
35 Additional Principal due Class A 267,485.63 267,485.63
36 Cross Collateral Deposit 0.00 0.00
37 Cross Collateral Withdrawal 0.00 0.00
38 Interest Remittance 363,856.31 363,856.31
Principal Reductions:
39 Prepayments - Number 15 15
40 Prepayments - Dollar 1,817,792.02 1,817,792.02
41 Net Liquidation Proceeds 0.00 0.00
42 Curtailments 0.00 0.00
43 Normal and Excess Payments 39,433.95 39,433.95
---------------- -------------- ------
44 Total Principal Remittance 1,857,225.97 1,857,225.97
45 Additional Principal Reduction 267,485.63 267,485.63
---------------- -------------- ------
46 Total Remittance 2,488,567.91 2,488,567.91 0.00
================ ============== ======
47 Carryforward Amount 0.00
48 Current Month Realized Loss - Number 0 0
49 Current Month Realized Loss - Dollar 0.00 0.00
Class Principal Balance - End of Month
50 Number of Loans # 674
51 Closing Loan Balance 77,279,645.41 77,279,645.41
52 Additional Principal Reduction, LTD 3,683,122.07 3,683,122.07
53 Realized Losses, LTD 0.00 0.00
54 Carryforward Amount 0.00 0.00
---------------- --------------
55 Closing Class A Principal Balance 73,596,523.34 73,596,523.34
56 Class Factor per Loan Balance 93.1080065% 93.1080065%
57 Class Factor per Class Balance 88.6705100% 88.6705100%
<PAGE>
Page 3 of 4
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK FSB,
DESIGNATED SERVICER
SERVICERS CERTIFICATE
1996-1 SUB POOL 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED
AS OF MARCH 01, 1996 AND THE INSURANCE AGREEMENT DATED AS OF MARCH 22, 1996,
LEE SERVICING COMPANY REPORTS THE FOLLOWING INFORMATION PERTAINING TO
SERIES 1996-1 SUB POOL 2 FOR SEPTEMBER 25, 1996, THE REMITTANCE DATE.
PERIOD ENDED: SEPTEMBER 1, 1996
<CAPTION>
Total Class A1
----- --------
<S> <C> <C> <C>
58 Weighted Note Rate - THIS Remittance: 10.38246%
59 Weighted Note Rate - NEXT Remittance: 10.77570%
60 Pass-Through Rate: 5.76625% 5.76625%
61 Related Remittance Period 26-Aug-96 thru 24-Sep-96
62 Days in Related Period: 30
63 Weighted Average Remaining Term 353.29
64 Original Pool - Principal Balance 57,027,110.90 57,027,110.90
65 Original Pool - Pre-Funding Account 28,407,783.59 28,407,783.59
66 Original Pool - Additional Principal Reduction 2,434,894.49 2,434,894.49
-------------- -------------- ------------
67 Original Pool Total 83,000,000.00 83,000,000.00
68 Original Pool - Number of Loans 318
Class A Over-Collateralization Reconciliation
---------------------------------------------
Beginning of Month Current Month End of Month
------------------ ------------- -------------
69 Additional Principal Reduction, LTD 3,415,636.44 267,485.63 3,683,122.07
70 Cross Collateral Deposit, LTD 0.00 0.00 0.00
71 Less: Realized Losses, LTD 0.00 0.00 0.00
---------------- ----------- --------------
72 Over-Collateralization of Principal 3,415,636.44 267,485.63 3,683,122.07
================ =========== ==============
73 Base Over-Collateralization Requirement 4,058,157.00
Current Month Subordinated Amount Beginning of Month Current Month End of Month
--------------------------------- ------------------ ------------- -------------
74 Original Subordinated Amount 9,269,686.00 N/A 9,269,686.00
75 Less: Cumulative Realized Losses 0.00 0.00 0.00
76 Plus: Cumulative Additional Proceeds 0.00 0.00 0.00
---------------- ----------- --------------
77 Current Subordinated Amount 9,269,686.00 9,269,686.00
================ =========== ==============
NonRecoverable Advance Reconciliation
-------------------------------------
78 Beginning of Month 0.00
79 Current Month Unpaid Nonrecoverable Advance 0.00
80 Less: Current Month Reimbursement 0.00
----------------
81 End of Month 0.00
================
<PAGE>
Page 4 of 4
ALLIANCE FUNDING COMPANY
BY LEE SERVICING COMPANY, A DIVISION OF SUPERIOR BANK FSB,
DESIGNATED SERVICER
SERVICERS CERTIFICATE
1996-1 SUB POOL 2
IN ACCORDANCE WITH SECTION 6.08 OF THE POOLING AND SERVICING AGREEMENT DATED
AS OF MARCH 01, 1996 AND THE INSURANCE AGREEMENT DATED AS OF MARCH 22, 1996,
LEE SERVICING COMPANY REPORTS THE FOLLOWING INFORMATION PERTAINING TO
SERIES 1996-1 SUB POOL 2 FOR SEPTEMBER 25, 1996, THE REMITTANCE DATE.
PERIOD ENDED: SEPTEMBER 1, 1996
<CAPTION>
Total Class A1
---------------- --------------
<C> <C> <C>
82 Total Class Principal - Original Pool $83,000,000.00 $83,000,000.00
83 Interest Remittance Amount 363,856.31 363,856.31
84 Interest Rate Factor / 1000 4.383811 4.383811
85 Total Principal Collections 1,857,225.97 1,857,225.97
86 Additional Principal Reduction 267,485.63 267,485.63
---------------- --------------
87 Principal Remittance Amount 2,124,711.60 2,124,711.60
88 Principal Payment Factor/1000 25.598935 25.598935
89 Principal Factor 886.705100 886.705100
90 Prior Month Principal Factors 912.304035 912.304035
</TABLE>
