<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 26, 1996
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (as depositor under the Pooling
and Servicing Agreement, dated as of December 1, 1996 providing for the
issuance of Chase Commercial Mortgage Securities Corp.'s Commercial
Mortgage Pass-Through Certificates, Series 1996-2)
Chase Commercial Mortgage Securities Corp.
(Exact name of registrant as specified in its charter)
New York 333-05271 13-3728743
- ---------------------------- ----------- ---------------
(State or Other Jurisdiction (Commission (I.R.S Employer
of Incorporation) File No.) Identification No.)
380 Madison Avenue
New York, New York 10017-2951
------------------------- ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 270-6000
- -------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events
The Registrant registered issuances of Commercial Mortgage
Pass-Through Certificates on a delayed or continuous basis pursuant to Rule
415 under the Securities Act of 1933, as amended (the "Act"), by a
Registration Statement on Form S-3 (Registration File No. 333-05271).
Pursuant to a base prospectus, dated November 19, 1996, and a prospectus
supplement, dated December 2, 1996, the Registrant plans to issue
approximately $233,139,205 in aggregate principal amount of its Chase
Commercial Mortgage Corp., Commercial Mortgage Pass-Through Certificates,
Series 1996-2 (the "Certificates") on or about December 18, 1996. The Current
Report on Form 8-K disclosed the use of Computational Materials (as defined in
the Kidder Peabody Acceptance Corporation I, SEC No-Action Letter, available
May 24, 1994), Structural Term Sheets, as defined in the Public Securities
Association SEC No-Action Letter, available February 17, 1995 (the "PSA
Letter"), and Collateral Term Sheets, as defined in the PSA Letter, by the
underwriters in connection with the offering of the Certificates. Such Compu-
tational Materials, Structural Term Sheets and Collateral Term Sheets were
filed in paper form under cover of Form SE. In accordance with the limits of
the continuing exemption granted to the Registrant, the Structural Term Sheets
and Collateral Term Sheets are hereby filed electronically as well.
2
<PAGE>
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 hereunto duly authorized.
CHASE COMMERCIAL MORTGAGE
SECURITIES CORP.
By: /s/ Jacqueline R. Slater
------------------------------
Name: Jacqueline R. Slater
Title: President
Dated: December 18, 1996
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
- ----------- ----------- --------
99 Structural Term Sheets and Collateral 5
Term Sheets as prepared by the
underwriters in connection with the
offering of the Certificates filed in
paper form under cover of Form SE on
or about November 26, 1996.
<PAGE>
NEW ISSUE - NOVEMBER 1996
11/20/96
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
CCMSC 1996-2
$223MM PUBLICLY OFFERED CERTIFICATES
SEQUENTIAL PAY REMIC CLASSES
<TABLE>
<CAPTION>
=============================================================================================
Initial
Aggregate
Ratings Certificate
Class S&P/DCR Balance or Approx. Pass- Weighted
Notional Dollar Through Average
Amount Price Rate Life*
(approx.) (approx.)
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 AAA/AAA $ 53,977,671 101-02 6.75% 5.42 yrs
- ---------------------------------------------------------------------------------------------
A-2 AAA/AAA $128,080,472 101-07 7.00% 9.15 yrs
- ---------------------------------------------------------------------------------------------
X ---/AAA $261,954,164 8-02 Variable 8.60 yrs
**
(Interest
Only)
- ---------------------------------------------------------------------------------------------
B AA/AA $ 17,027,021 100-13 7.00% 9.76 yrs
- ---------------------------------------------------------------------------------------------
C A/A $ 15,717,250 99-21 7.00% 9.89 yrs
- ---------------------------------------------------------------------------------------------
D BBB/BBB $ 13,097,708 98-05 7.00% 9.92 yrs
- ---------------------------------------------------------------------------------------------
E BBB- $ 5,239,083 95-26 7.00% 9.92 yrs
/BBB-
- ---------------------------------------------------------------------------------------------
F Not N/A N/A 7.00% 9.92 yrs
Offered
- ---------------------------------------------------------------------------------------------
G Not N/A N/A 7.00% 9.92 yrs
Offered
- ---------------------------------------------------------------------------------------------
H Not N/A N/A 7.00% 9.98 yrs
Offered
=============================================================================================
</TABLE>
(TABLE RESTUBBED FROM ABOVE)
<TABLE>
<CAPTION>
Expected
Principal Final as
Class Window* of Date Price Talk (bps)
- -------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 0.09-6.67 7/03 55 area
- -------------------------------------------------------------------------------
A-2 6.67-9.75 9/06 72-75
- -------------------------------------------------------------------------------
X 0.09- 12/06 300-325
10.00 (to maturity)
- -------------------------------------------------------------------------------
B 9.75-9.84 10/06 82-85
- -------------------------------------------------------------------------------
C 9.84-9.92 11/06 92-95
- -------------------------------------------------------------------------------
D 9.92-9.92 11/06 115-120
- -------------------------------------------------------------------------------
E 9.92-9.92 11/06 150-155
- -------------------------------------------------------------------------------
F 9.92-9.92 11/06 -
- -------------------------------------------------------------------------------
G 9.92-9.92 11/06 -
- -------------------------------------------------------------------------------
H 9.92- 12/06 -
10.00
===============================================================================
</TABLE>
* WEIGHTED AVERAGE LIFE AND PRINCIPAL WINDOW ASSUME NO PREPAYMENTS,
MODIFICATIONS, LOSSES OR EXTENSIONS.
** THE PASS-THROUGH RATE ON THE CLASS X IS EQUAL TO THE EXCESS, IF ANY, OF
(I)THE WEIGHTED AVERAGE OF THE NET MORTGAGE RATES ON THE MORTGAGE LOANS
OVER (II) THE WEIGHTED AVERAGE OF THE PASS-THROUGH RATES OF THE OTHER
CLASSES (OTHER THAN THE RESIDUAL CLASS).
SETTLEMENT DATE: On or about December 18, 1996.
COLLATERAL: 96 Loans: approximately 98% Multifamily, 2% Mobile Home
Community.
LOAN SELLERS: The Chase Manhattan Bank and Paine Webber Real Estate
Securities.
WA DSCR: 1.43x.
WA LTV: 72.83% at the Cut-off Date (64.99% at Maturity).
CALL PROTECTION: 100% of the mortgages are protected by Lockout, Yield
Maintenance, and Fixed Penalties.
SERVICER: The Chase Manhattan Bank.
SPECIAL SERVICER: Lennar Partners, Inc.
UNDERWRITERS: Chase Securities Inc. and PaineWebber Incorporated.
CHASE SECURITIES INC. PAINEWEBBER INCORPORATED
GREG MURPHY/MICHELLE MACKAY RENNY MENDEZ/JOHN OTIS
(212) 834-3813 (212) 713-4002
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS LISTED ABOVE,
AND NOT BY CHASE COMMERCIAL MORTGAGE SECURITIES CORP. ("CHASE") OR ANY OF ITS
AFFILIATES (OTHER THAN CHASE SECURITIES INC.). THE INFORMATION CONTAINED HEREIN
WILL BE SUPERSEDED BY THE DESCRIPTION OF THE MORTGAGE LOANS AND THE OTHER
INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
TABLE OF CONTENTS
PAGE
I SUBORDINATION LEVELS 1
II TRANSACTION SUMMARY 2
III CERTIFICATE STRUCTURE SUMMARY 3-4
IV MORTGAGE LOAN/COLLATERAL SUMMARY 5-7
V TEN LARGEST LOANS 8-9
VI SPONSOR CONCENTRATIONS 10
VII PREPAYMENT PREMIUMS & YIELD MAINTENANCE 11-14
VIII INDIVIDUAL LOAN INFORMATION 15-17
IX GEOGRAPHIC OVERVIEW MAP 18
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
SUBORDINATION LEVELS
================================================
Credit WA WA
Support DSCR LTV
- ------------------------------------------------
30.5% 2.06x 51%
- ------------------------------------------------
24.0% 1.88x 55%
- ------------------------------------------------
18.0% 1.74x 60%
- ------------------------------------------------
13.0% 1.64x 63%
- ------------------------------------------------
11.0% 1.61x 65%
================================================
- --------------------------------------------
CLASS A-1
$54.0MM X
AAA/AAA $262.0MM
- --------------------- (NOTIONAL)
CLASS A-2 ---/AAA
$128.1MM
AAA/AAA
- --------------------------------------------
- --------------------------------------------
CLASS B
$17.0MM
AA/AA
- --------------------------------------------
- --------------------------------------------
CLASS C
$15.7MM
A/A
- --------------------------------------------
- --------------------------------------------
CLASS D
$13.1MM
BBB/BBB
- --------------------------------------------
- --------------------------------------------
CLASS E
$5.2MM
BBB-/BBB-
- --------------------------------------------
- --------------------------------------------
NON-OFFERED CERTIFICATES
$28.8MM
(NOT OFFERED BY THE PROSPECTUS SUPPLEMENT)
- --------------------------------------------
All Class Sizes Approximate
(S&P/DCR)
CHASE SECURITIES INC. PAINEWEBBER INCORPORATED
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS LISTED ABOVE,
AND NOT BY CHASE COMMERCIAL MORTGAGE SECURITIES CORP. ("CHASE") OR ANY OF ITS
AFFILIATES (OTHER THAN CHASE SECURITIES INC.). THE INFORMATION CONTAINED HEREIN
WILL BE SUPERSEDED BY THE DESCRIPTION OF THE MORTGAGE LOANS AND THE OTHER
INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
TRANSACTION SUMMARY
ISSUER: Chase Commercial Mortgage Securities Corp. - Series
1996-2.
OFFERED Class A-1, Class A-2, Class X, Class B, Class C, Class
CERTIFICATES: D, Class E.
LOAN SELLERS: The Chase Manhattan Bank (47%) and Paine Webber Real
Estate Securities Inc. (53%).
RATING AGENCIES: S&P/DCR.
LEGAL STRUCTURE: Sequential pay REMIC classes rated AAA through BBB-
offered publicly; all other classes not offered
publicly.
CUT-OFF DATE: December 1, 1996.
SETTLEMENT DATE: On or about December 18, 1996.
DISTRIBUTION DATE: Monthly on the 19th or the next business day.
DELAY DAYS: 18.
SERVICER: The Chase Manhattan Bank.
SPECIAL SERVICER: Lennar Partners, Inc.
TRUSTEE/FISCAL AGENT: LaSalle National Bank/ABN AMRO Bank N.V.
ERISA: Class A-1, A-2, and X may qualify for certain exemptions
from the plan asset rules of ERISA.
SMMEA ELIGIBILITY: The Certificates are not SMMEA eligible.
OPTIONAL TERMINATION: 4% Clean-Up Call.
CERTIFICATE Each Class of Offered Certificates will be represented
REGISTRATION: by one or more global Certificates registered in the
name of Cede & Co., as nominee of the DTC.
PRICING SPEED: O% CPR.
UNDERWRITERS: Chase Securities Inc. and PaineWebber Incorporated.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
CERTIFICATE STRUCTURE SUMMARY
DISTRIBUTION OF The Available Distribution Amount will be
PRINCIPAL AND INTEREST: applied as follows: (i) interest to the
Class A and Class X Certificates,
pro rata; (ii) principal to the
Class A Certificate Balances: first
to the A-1 then to the A-2 until
the Class A Certificate Balances
have been reduced to zero; (iii)
interest to the Class B
Certificates; (iv) principal to the
Class B Certificates until the
Class B Certificate Balance has
been reduced to zero: and, (v)
distributions of interest and
principal sequentially to the Class
C through H Certificates.
See page S-52 of the preliminary
Prospectus Supplement.
ALLOCATION OF LOSSES: Realized losses from any Mortgage Loan
will be allocated in reverse alphabetical
order starting with Class H.
See page S-57 of the preliminary
Prospectus Supplement.
REPORTS TO
CERTIFICATEHOLDERS: The Paying Agent will furnish each
Certificateholder with: (i) distributions
of principal and interest on each Class
of Certificates, (ii)outstanding Mortgage
Loan and Certificate Balances and (iii)
delinquency and prepayment data.
Each quarter the Servicer will
provide Bloomberg, L.P., with: (i)
current and original net operating
income, and (ii) debt service
coverage ratios based on borrowers'
operating statements and occupancy
rates. Certificateholders may
obtain the same information from
the Servicer upon request.
See page S-61 of the preliminary
Prospectus Supplement.
SERVICER ADVANCING: The Servicer will be required to make (i)
P&I Advances (excluding principal Balloon
Payments) and (ii) Servicing Advances
through liquidation of the Mortgage Loan
subject to the absence of Nonrecoverable
Advances and any Appraisal Reductions
that may occur.
See page S-58 of the preliminary
Prospectus Supplement.
SPECIAL SERVICER When a loan is more than 60 days
FLEXIBILITY: delinquent, or upon the occurrence of
certain other events, the Servicer will
transfer its servicing responsibilities
to the Special Servicer. Loan extensions
and modifications will be carried out by
the Special Servicer prior to servicing
transfer. The Special Servicer has the
flexibility to modify loans, subject to
the Servicing Standards set forth in the
Pooling and Servicing Agreement.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
CERTIFICATE STRUCTURE SUMMARY (CONTINUED)
EXTENSION ADVISOR: The Class A, Class B, Class C, Class D
and Class E Certificateholders will be
entitled to elect the Extension Advisor.
The initial Extension Advisor will be the
Trustee or its Designee. The Special
Servicer will not be permitted to grant
any maturity extensions beyond the third
anniversary of the original maturity date
without written consent from the
Extension Advisor.
See page S-70 of the preliminary
Prospectus Supplement.
APPRAISAL REDUCTIONS: By the time a loan becomes 120 days
delinquent, or upon the occurrence of
certain other events, an appraisal will
be obtained by the Special Servicer. An
Appraisal Reduction may result, which
would reduce interest advanced and the
voting rights of the most subordinate
Class of Certificates.
See page S-60 of the preliminary
Prospectus Supplement.
PREPAYMENT PREMIUMS All of the Mortgage Loans have prepayment
AND CHARGES: protection during their terms except for
an open prepayment period which is not
more than 6 months prior to maturity.
20.3% of the Mortgage Loans have no open
prepayment period.
The prepayment protection for 94% of the
Mortgage Loans consists of a lock-out
period followed by yield maintenance
until the open prepayment period.
The remaining 6% of the Mortgage Loans
have either (i) a yield maintenance
period followed by a prepayment premium
period until the open prepayment period
or (ii) a lock-out period followed by a
prepayment premium period until the open
prepayment period.
REPRESENTATION AND Each Mortgage Loan Seller will make
WARRANTIES: certain representations and warranties
with respect to each Mortgage Loan.
See page S-44 of the preliminary
Prospectus Supplement.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
MORTGAGE LOAN/COLLATERAL SUMMARY
MORTGAGE POOL: The Mortgage Pool will consist of 94
multifamily and 2 mobile home community,
fixed-rate Mortgage Loans with an Initial Pool
Balance of approximately $261,954,164. See
the following two pages for more detail on the
Mortgage Loans.
CUT-OFF BALANCE: $261,954,164.
AVERAGE LOAN SIZE: $2,728,689.
WA COUPON: 8.43%.
WA DSC: 1.43x.
WA LTV AT CUT-OFF: 72.83%.
WA LTV AT MATURITY: 64.99%.
PROPERTY LOCATIONS: Properties are located in 22 states with the
two largest concentrations in Texas (15%) and
Illinois (12%).
LARGEST LOANS: The largest loan represents 6.03% of the
initial pool balance; the three largest loans
represent 14.71%; the ten largest loans
represent 35.56%. The four largest groups of
loans having related borrowers are Insignia
(28.3%), Cardinal (20.3%), Inland (13.0%), and
Herscot (8.3%).
LOAN MATURITIES: 85% of the mortgage loans have original
maturities of ten years and 15% of the
mortgage loans have original maturities of 7
years.
WA LOAN MATURITY: 9.0 years
BALLOON PAYMENTS: All Mortgage Loans require balloon payments at
maturity.
AMORTIZATION: Approximately 80% of the Mortgage Loans
require constant monthly payments of principal
and interest based on 25 or 30 year
amortization schedules. Approximately 20% of
the Mortgage Loans require payment of interest
only during the first thirty-six or thirty-
seven months after origination followed by
constant monthly payments of principal and
interest based upon a 25-year amortization
schedule.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
COLLATERAL SUMMARY
GEOGRAPHIC DISTRIBUTION
<TABLE>
<CAPTION>
STATE NUMBER OF MORTGAGE AGGREGATE CUT-OFF PERCENTAGE OF INITIAL
LOANS DATE BALANCE POOL BALANCE
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Texas 10 $39,818,939 15.20%
Illinois 8 31,483,134 12.02
Florida 11 25,079,157 9.57
Massachusetts 3 21,747,124 8.30
Georgia 4 20,635,156 7.88
Ohio 19 19,894,990 7.59
Arizona 2 16,800,937 6.41
New York 5 16,362,881 6.25
Indiana 12 14,183,509 5.41
13 Other States 22 55,948,337 21.37
- -----------------------------------------------------------------------------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
</TABLE>
MORTGAGE RATES AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
NUMBER OF MORTGAGE AGGREGATE CUT-OFF PERCENTAGE OF INITIAL
MORTGAGE RATES LOANS DATE BALANCE POOL BALANCE
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
7.570%-7.999% 21 $115,338,197 44.03%
8.000%-8.249% 1 5,203,634 1.99
8.250%-8.499% 2 5,791,405 2.21
8.500%-8.749% 3 8,608,117 3.29
8.750%-8.999% 9 42,418,300 16.19
9.000%-9.249% 59 81,808,864 31.23
9.250%-9.375% 1 2,785,648 1.06
- ----------------------------------------------------------------------------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
</TABLE>
THE WEIGHTED AVERAGE MORTGAGE RATE AS OF THE CUT-OFF DATE IS 8.43%.
CUT-OFF DATE BALANCES
<TABLE>
<CAPTION>
NUMBER OF MORTGAGE AGGREGATE CUT-OFF PERCENTAGE OF INITIAL
CUT-OFF DATE BALANCES LOANS DATE BALANCE POOL BALANCE
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
$ 484,500-$ 1,000,000 27 $22,711,507 8.67%
$1,000,001-$ 2,000,000 27 37,385,982 14.27
$2,000,001-$ 3,000,000 17 42,906,942 16.38
$3,000,001-$ 4,000,000 6 22,030,607 8.41
$4,000,001-$ 5,000,000 4 17,100,148 6.53
$5,000,001-$ 9,000,000 9 52,502,373 20.04
$9,000,001-$15,788,514 6 67,316,606 25.70
- -------------------------------------------------------------------------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
</TABLE>
THE AVERAGE CUT-OFF DATE BALANCE IS $2,728,689.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
COLLATERAL SUMMARY (CONTINUED)
DEBT SERVICE COVERAGE RATIOS AS OF THE CUT-OFF DATE*
<TABLE>
<CAPTION>
NUMBER OF MORTGAGE AGGREGATE CUT-OFF PERCENTAGE OF INITIAL
RANGE OF DSCRS LOANS DATE BALANCE POOL BALANCE
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1.036x to 1.199x 7 $14,112,213 5.39%
1.200x to 1.299x 20 35,100,325 13.40
1.300x to 1.399x 35 53,493,022 20.42
1.400x to 1.499x 19 102,132,848 38.99
1.500x to 1.599x 5 19,600,414 7.48
1.600x to 1.699x 6 25,579,462 9.76
1.700x to 1.980x 4 11,935,881 4.56
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
</TABLE>
* ALL DSCRS ARE CALCULATED TO INCLUDE PRINCIPAL (BASED UPON AN ASSUMED
AMORTIZATION SCHEDULE) AND INTEREST PAYMENTS. THE WEIGHTED AVERAGE DSCR AS OF
THE CUT-OFF DATE IS 1.43X.
RANGE OF LOAN TO VALUE RATIOS AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
NUMBER OF MORTGAGE AGGREGATE CUT-OFF PERCENTAGE OF INITIAL
LTV RATIOS LOANS DATE BALANCE POOL BALANCE
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
58.51% to 59.99% 2 $ 5,282,024 2.02%
60.00% to 64.99% 7 27,443,540 10.48
65.00% to 69.99% 13 36,316,633 13.86
70.00% to 73.32% 17 76,599,620 29.24
73.33% to 76.65% 17 46,554,605 17.77
76.66% to 79.99% 24 45,822,669 17.49
80.00% to 85.00% 16 23,935,074 9.14
- -------------------------------------------------------------------------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
</TABLE>
THE WEIGHTED AVERAGE LTV AS OF THE CUT-OFF DATE IS 72.83%
RANGE OF REMAINING TERM TO MATURITY
<TABLE>
<CAPTION>
RANGE OF REMAINING NUMBER OF MORTGAGE AGGREGATE CUT-OFF PERCENTAGE OF INITIAL
TERMS (MOS.) LOANS DATE BALANCE POOL BALANCE
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
69 to 70 2 $ 7,549,523 2.88%
71 to 80 10 31,626,769 12.07
81 to 100 0 0 0.00
101 to 110 19 107,388,215 41.00
111 to 120 65 115,389,215 44.05
- ------------------------------------------------------------------------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
</TABLE>
THE WEIGHTED AVERAGE REMAINING TERM TO MATURITY AS OF
THE CUT-OFF DATE IS 108 MONTHS.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
TEN LARGEST MORTGAGE LOANS
<TABLE>
<CAPTION>
=============================================================================================================
% OF
AGGREGATE AGGREGATE STATED
CUT-OFF CUT-OFF MORTGAGE REMAINING
DEAL NAME DATE DATE RATE TERM
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Plantation Creek $15,788,514 6.03% 7.93% 110
- -------------------------------------------------------------------------------------------------------------
Wood Creek 12,809,549 4.89% 7.93% 110
- -------------------------------------------------------------------------------------------------------------
North Shore Estates 9,919,807 3.79% 7.75% 109
- -------------------------------------------------------------------------------------------------------------
Princeton Park 9,608,266 3.67% 8.75% 117
- -------------------------------------------------------------------------------------------------------------
Four Winds 9,607,162 3.67% 7.93% 110
- -------------------------------------------------------------------------------------------------------------
Princeton Place 9,583,309 3.66% 8.75% 117
- -------------------------------------------------------------------------------------------------------------
Stoney Creek 6,994,899 2.67% 7.88% 109
- -------------------------------------------------------------------------------------------------------------
French Quarter 6,945,236 2.65% 7.88% 109
- -------------------------------------------------------------------------------------------------------------
Copper Mill 6,052,324 2.31% 7.88% 109
- -------------------------------------------------------------------------------------------------------------
Cobblestone Square Apts. 5,839,829 2.23% 8.75% 117
- -------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE $93,148,894 35.56% 8.12% 112
- -------------------------------------------------------------------------------------------------------------
=============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
====================================================================================
CUT-OFF LTV
DATE LTV RATIO AT
DEAL NAME DSCR RATIO MATURITY
- ------------------------------------------------------------------------------------
<S> <C> <C> <C>
Plantation Creek 1.49x 72.76% 64.18%
- ------------------------------------------------------------------------------------
Wood Creek 1.43x 73.20% 64.57%
- ------------------------------------------------------------------------------------
North Shore Estates 1.51x 76.31% 67.13%
- ------------------------------------------------------------------------------------
Princeton Park 1.63x 78.76% 70.23%
- ------------------------------------------------------------------------------------
Four Winds 1.41x 67.18% 59.27%
- ------------------------------------------------------------------------------------
Princeton Place 1.46x 72.60% 64.74%
- ------------------------------------------------------------------------------------
Stoney Creek 1.43x 68.58% 60.48%
- ------------------------------------------------------------------------------------
French Quarter 1.64x 77.17% 68.05%
- ------------------------------------------------------------------------------------
Copper Mill 1.48x 62.40% 55.03%
- ------------------------------------------------------------------------------------
Cobblestone Square Apts. 1.36x 73.00% 65.10%
- ------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE 1.48X 72.58% 64.20%
- ------------------------------------------------------------------------------------
====================================================================================
</TABLE>
DESCRIPTION:
PLANTATION CREEK Plantation Creek is a 484-unit multifamily property, situated
on 35 acres of land, consisting of 35 two and three story buildings constructed
between 1976 and 1978. Total building area is 550,000 net rentable sf. The
property is located in the Roswell Road section of Atlanta, Georgia, which is
approximately 15 miles from Atlanta's central business district. Plantation
Creek was approximately 94% occupied as of September 17, 1996.
WOOD CREEK Wood Creek is a 432 unit apartment complex situated on 19 acres of
land with 39 two story buildings. The buildings were constructed in 1985 and
have a total net rentable area of 354,000 sf. The property is located on South
Gilford Road in Mesa, Arizona. As of September 17, 1996, Wood Creek had an
occupancy of 93%.
NORTH SHORE ESTATES North Shore Estates is a 252 unit apartment
property comprised of three 4 story midrise apartment buildings with a total of
202,608 square feet of net rentable area. The property is located in Highwood,
Illinois. Highwood is a northern suburb of the city of Chicago and is situated
along the shores of Lake Michigan approximately 30 miles north of Chicago's
Central Business District.
PRINCETON PARK Princeton Park Apartments is 208 unit garden style apartment
complex consisting of 7, three-story residential buildings with a rentable area
of 166,896 sf. Five of the buildings were constructed in 1972 with the
remaining two buildings constructed in 1987. The property is located in Lowell,
Massachusetts, which is situated in the northwestern portion of the Boston
metropolitan region.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
TEN LARGEST MORTGAGE LOANS (CONTINUED)
FOUR WINDS Four Winds is a 350 unit multifamily property situated on 37 acres
of land with 33 two and three story buildings constructed in 1986. The total
net rentable area is 312,000 sf. The property is located in Overland Park,
Johnson County, a suburb of Kansas City, Kansas. As of September 17, 1996, Four
Winds had an occupancy rate of approximately 97%.
PRINCETON PLACE Princeton Place Apartments is a 260 unit garden style apartment
complex consisting of 10, three-story residential buildings with a net rentable
area of 226,256 square feet. The buildings were constructed in 1986. The
property is located in Worcester, Massachusetts which is approximately 40 miles
west of Boston.
STONEY CREEK Stoney Creek is a 364 unit multifamily property situated on 15
acres of land with 17 two and three story buildings constructed in 1983,
representing approximately 276,000 sf. of net rentable area. The property is
located in the Amanda Lane section of northeast Dallas, Texas which is
approximately 10 miles from the Dallas CBD. As of September 17, 1996, Stoney
Creek had an occupancy rate of approximately 93%.
FRENCH QUARTER French Quarter Apartments is a 240 unit apartment complex
comprised of four, five-story buildings each containing 60 units with a total
net rentable area of 230,600 sf. The property is situated on approximately 14
acres and was constructed in 1970 and 1973. French Quarter is located in the
Village of Carol Stream within DuPage County, approximately 27 miles northwest
of the City of Chicago's Central Business District.
COPPER MILL Copper Mill is a 192 unit multifamily property situated on 13 acres
of land with 12 two and three story buildings constructed in 1987, representing
approximately 159,000 net rentable square feet. The property is located in the
western part of Henrico County, approximately 20 minutes from Richmond's CBD,
in an area known as the West End. As of September 17, 1996, Copper Mill had an
occupancy rate of approximately 92%.
COBBLESTONE SQUARE APTS. Cobblestone Square apartments is a 228 unit garden
style apartment complex comprised of 19 two and one-half story buildings with
456 parking spaces including 39 enclosed garage spaces. The property is located
in Cicero, New York, a northern suburb of the Syracuse MSA.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
SPONSOR CONCENTRATIONS LESS THAN 5% OF CUT-OFF BALANCE
<TABLE>
<CAPTION>
WEIGHTED AVERAGES
==============================================================================================================================
AGGREGATE % OF STATED
NUMBER CUT-OFF DATE INITIAL POOL MORTGAGE REMAINING
SPONSOR OF LOANS BALANCE BALANCE RATE TERM DSCR
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Insignia 10 $74,122,294 28.30% 7.91% 110 1.45x
- ------------------------------------------------------------------------------------------------------------------------------
Cardinal 48 53,187,215 20.30% 9.00% 119 1.30x
- ------------------------------------------------------------------------------------------------------------------------------
Inland 9 34,087,084 13.01% 7.86% 110 1.62x
- ------------------------------------------------------------------------------------------------------------------------------
Herscot 3 21,747,124 8.30% 8.75% 117 1.55x
- ------------------------------------------------------------------------------------------------------------------------------
TOTAL/WA 70 $183,143,717 69.91% 8.32% 113 1.44X
==============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
=========================================================
CUT-OFF LTV
DATE LTV RATIO AT
SPONSOR RATIO MATURITY
- ---------------------------------------------------------
<S> <C> <C>
Insignia 69.90% 61.66%
- ---------------------------------------------------------
Cardinal 78.00% 69.92%
- ---------------------------------------------------------
Inland 71.78% 63.25%
- ---------------------------------------------------------
Herscot 75.02% 66.90%
- ---------------------------------------------------------
TOTAL/WA 73.21% 64.97%
=========================================================
</TABLE>
DESCRIPTION:
The following information has been provided to the Mortgage Loan Sellers by the
sponsors. No representation is made as to the accuracy or completeness of such
information.
INSIGNIA - As of January 1, 1996, Insignia managed more than 272,000
multifamily units, and was the largest multifamily property manager in the
United States according to the National Multi Housing Council. Insignia is
subject to the information requirements of the Exchange Act and is required to
file reports and other information with the Commission.
CARDINAL - According to the National Multi Housing Council, as of January 1,
1996, Cardinal was the 13th largest manager of U.S. multifamily properties.
Cardinal Industries, Inc., reorganized in 1992 as a publicly held corporation,
changed its focus from a manufacturing and real estate development organization
to a fee- based property management and investment services company, is now
known as Cardinal. In connection with the reorganization of the company, a new
president, chief executive officer, chief financial officer, as well as other
officers were appointed. Cardinal is subject to the information requirements of
the Exchange Act and is required to file reports and other information with the
Commission.
INLAND - Inland Real Estate Investment Corp. (IREIC) is a wholly
owned subsidiary of The Inland Group, Inc. IREIC's holdings
include more than 20,000 apartment units, 9.5 million square feet
of commercial property and approximately 10,000 acres of pre- development land
in the Chicago area.
HERSCOT - James Herscot is the chairman of Princeton Properties Management,
Inc., a property management company which he founded in 1973. Princeton
Properties manages approximately 4,000 apartment units in Massachusetts, Maine
and New Hampshire.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
PREPAYMENT PREMIUMS AND YIELD MAINTENANCE CHARGES
RESTRICTIONS:
ALL OF THE LOANS HAVE PREPAYMENT PROTECTION, TYPICALLY A LOCK-OUT PERIOD
FOLLOWED BY A YIELD MAINTENANCE PERIOD AND/OR A FIXED PERCENTAGE PENALTY
THEREAFTER. 51.3% of the loans become freely prepayable 6 months prior to
maturity, 28.4% become freely prepayable 3 months prior to maturity, and the
remaining 20.3% of the loans require Yield Maintenance through maturity.
ALLOCATION OF PREMIUMS AND CHARGES:
PREPAYMENT PREMIUMS: 25% of Prepayment Premiums will be generally allocated to
any class(es) receiving principal on the distribution date. Only Classes A, B,
C, D and E will receive this distribution. All remaining amounts of Prepayment
Premiums will be distributed to Class X. Please see page S-55 of the prospectus
supplement for a description of the allocation of Prepayment Premiums.
YIELD MAINTENANCE CHARGES: All Yield Maintenance premiums are
calculated flat to Treasuries. The fraction of Yield Maintenance
Charges distributed to principal paying bond classes is defined by:
(Bond Coupon-Treasury Rate)/(Mortgage Rate-Treasury Rate),
not to exceed 1.0, where Treasury Rate is the appropriate Treasury yield used
to calculate the Yield Maintenance Charge.
The fraction is applied to the Yield Maintenance Charge, to determine the
amount allocated among Classes A, B, C, D, and E receiving principal on the
distribution date. Class X will receive the remainder of any Yield Maintenance
Charges. Please see page S-55 of the Prospectus Supplement for a description of
the allocation of Yield Maintenance charges.
The following table and graph summarizes the amounts and percentages of the
Pool Balance which is subject to a Lock-out Period, Yield Maintenance or
Prepayment Premium on an annual basis over the life of the Trust (assuming no
loan prepayments, modifications, defaults or extensions).
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
AMOUNT & PERCENTAGE OF POOL BALANCE SUBJECT TO PREPAYMENT RESTRICTIONS
($'S IN MILLIONS)
<TABLE>
<CAPTION>
OUTSTANDING POOL BALANCE
- ------------------------------------------------------------------------------------------
MATURED OR
INITIAL POOL AMORTIZED REMAINING BALANCE
DATE BALANCE AMOUNT OUTSTANDING
- ------------------------------------------------------------------------------------------
AMOUNT %
<C> <C> <C> <C> <C>
12/1/96 $262.0 0.0 262.0 100.0%
12/1/97 $262.0 1.8 260.1 99.0%
12/1/98 $262.0 3.8 258.1 99.0%
12/1/99 $262.0 6.1 255.9 98.0%
12/1/00 $262.0 9.0 252.9 97.0%
12/1/01 $262.0 12.3 249.7 95.0%
12/1/02 $262.0 27.4 234.6 90.0%
12/1/03 $262.0 55.3 206.6 79.0%
12/1/04 $262.0 58.8 203.1 78.0%
12/1/05 $262.0 64.3 197.7 75.0%
12/1/06 $262.0 262.0 0.0 0.0%
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT RESTRICTIONS APPLICABLE TO OUTSTANDING POOL BALANCE AS OF THE CUT-OFF DATE
- -----------------------------------------------------------------------------------------------------------------
LOCKOUT YIELD MAINTENANCE PREPAYMENT PENALTY PREPAYABLE W/O PENALTY
- -----------------------------------------------------------------------------------------------------------------
AMOUNT % AMOUNT % AMOUNT % AMOUNT %
<C> <C> <C> <C> <C> <C> <C> <C>
$247.3 94.4% 14.6 5.6% 0.0 0.0% 0.0 0.0%
$245.6 94.4% 14.5 5.6% 0.0 0.0% 0.0 0.0%
$164.7 63.8% 91.6 35.5% 1.9 0.7% 0.0 0.0%
$71.9 28.1% 182.1 71.2% 1.8 0.7% 0.0 0.0%
$0.0 0.0% 239.0 94.5% 13.9 5.5% 0.0 0.0%
$0.0 0.0% 236.0 94.5% 13.6 5.5% 0.0 0.0%
$0.0 0.0% 217.5 92.7% 3.6 1.5% 13.5 5.8%
$0.0 0.0% 204.9 99.2% 1.7 0.8% 0.0 0.0%
$0.0 0.0% 201.4 99.2% 1.7 0.8% 0.0 0.0%
$0.0 0.0% 104.5 52.8% 0.0 0.0% 93.2 47.2%
$0.0 0.0% 0.0 0.0% 0.0 0.0% 0.0 0.0%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
VOLUNTARY PREPAYMENT PROTECTION ON THE MORTGAGE LOANS
[THE NARRATIVE AND/OR TABULAR INFORMATION BELOW REPRESENTS THE MATERIAL
CONTENT OF GRAPHIC IMAGE(S) OMITTED FOR THE PURPOSE OF EDGAR FILING.]
<TABLE>
<CAPTION>
12/1/96 12/1/97 12/1/98 12/1/99 12/1/00 12/1/01 12/1/02 12/1/03 12/1/04 12/1/05 12/1/06
------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lockout $247.3 $245.6 $164.7 $ 71.9 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0
Yield Maintenance 14.6 14.5 91.6 182.1 239.0 236.0 217.5 204.9 201.4 104.5 0.0
Prepayment Penalty 0.0 0.0 1.9 1.8 13.9 13.6 3.6 1.7 1.7 0.0 0.0
Open Prepay 0.0 0.0 0.0 0.0 0.0 0.0 13.5 0.0 0.0 93.2 0.0
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
PREPAYMENT RESTRICTIONS IN EFFECT AS OF THE CUT-OFF DATE
<TABLE>
<CAPTION>
ORIGINAL
TERM TO NUMBER AGGREGATE PERCENTAGE OF LOCKOUT
MATURITY OF CUT-OFF DATE INITIAL PERIOD
(MOS.) LOANS BALANCE POOL BALANCE (MOS.)
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
84 3 $12,753,137 4.87% 0
84 5 17,677,190 6.75 24/25
84 3 6,852,237 2.62 24
84 1 1,893,707 0.72 24
120 1 1,879,254 0.72 0
120 37 40,134,424 15.32 25
120 15 54,857,232 20.94 36
120 10 38,731,878 14.79 36
120 10 74,122,294 28.30 48
121 11 13,052,791 4.98 26
-------------------------------------------------------
TOTAL 96 $261,954,164 100.00%
=======================================================
</TABLE>
<TABLE>
<CAPTION>
YIELD
MAINTENANCE PREPAYMENT
CHARGES AND/OR PREMIUMS NO
---------------- -------------- PENALTY
YIELD MAINTENANCE CHARGE OR BEGIN END BEGIN END DURING
PREPAYMENT PREMIUM DESCRIPTION MONTH MONTH MONTH MONTH LAST
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Less than of (i) 3% of UPB or 1 60 61 78 6 mos.
(ii) Yield Maintenance Charge
for the first 5 years then
and 1% in year 7
Less than of (i) 1% of UPB or 25/26 81 n/a n/a 3 mos.
(ii) Yield Maintenance Charge
Less than of (i) 1% of UPB or 25 78 n/a n/a 6 mos.
(ii) Yield Maintenance Charge
Fixed at 5% in year 3, 4% in n/a n/a 25 81 3 mos.
year 4, 3% in year 5, 2% in
year 6 and 1% in year 7
Less than of (i) 3% of UPB 1 84 85 114 6 mos.
or (ii) Year Maintenance
Charge for the first 7 years,
then fixed at 3% in year 8,
2% in year 9, 1% in year 10
Less than of (i) 1% of UPB 26 120 n/a n/a 0 mos.
or (ii) Yield Maintenance Charge
Less than of (i) 1% of UPB or 37 117 n/a n/a 3 mos.
(ii) Yield Maintenance Charge
Less than of (i) 1% of UPB or 37 114 n/a n/a 6 mos.
(ii) Yield Maintenance Charge
Less than of (i) 1% of UPB or 49 114 n/a n/a 6 mos.
(ii) Yield Maintenance Charge
Less than of (i) 1% of UPB or 27 121 n/a n/a 0 mos.
(ii) Yield Maintenance Charge
</TABLE>
As used above, "n/a" means not applicable.
As used above, "UPB" means unpaid principal balance.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
INDIVIDUAL LOAN INFORMATION
<TABLE>
<CAPTION>
ID DEAL NAME CITY ST. UNITS OCC. ORIGINATOR CUT-OFF BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 250 & 270 Clarkson Ave. Brooklyn NY 199 98% Chase $ 2,785,648
2 443 Wrightwood Apts. Chicago IL 176 99% Chase $ 3,846,842
3 451 Wrightwood Apts. Chicago IL 172 99% Chase $ 4,020,570
4 Antoine Village Houston TX 148 90% HCMC $ 1,879,254
5 Applegate I Muncie IN 54 94% PW $ 925,803
6 Appleridge II Circleville OH 54 96% PW $ 910,861
7 Arrangement Apartments Austin TX 112 94% Secore $ 1,893,707
8 Arrowtree Apartments Okemos MI 114 98% Secore $ 2,729,294
9 Astorwood Stuart FL 74 95% PW $ 1,646,195
10 Atrium Braeswood Houston TX 122 95% Chase $ 3,298,244
11 Barrington Clarkston GA 48 94% PW $ 1,019,554
12 Beckford Place New Castle IN 42 98% PW $ 716,550
13 Camellia Court II Columbus OH 41 88% PW $ 946,129
14 Camellia Ct Dayton Dayton OH 58 98% PW $ 1,097,000
15 Cedargate Michigan City Michigan City IN 54 98% PW $ 798,755
16 Cobblestone Square Apt. Cicero NY 228 100% Chase $ 5,839,829
17 Cooper's Pointe North Charleston SC 192 98% Secore $ 4,216,783
18 Copper Mill Richmond VA 192 92% Secore $ 6,052,324
19 Countryside Countryside IL 54 94% Chase $ 1,315,372
20 Dover Place II Eastlake OH 65 94% PW $ 1,625,000
21 Dover Place III Eastlake OH 31 97% PW $ 770,000
22 Dover Place IV Eastlake OH 72 86% PW $ 1,870,000
23 El Vecino Colorado Springs CO 174 77% HCMC $ 3,912,151
24 Forbus Hills Apartments Poughkeepsie NY 70 94% HCMC $ 2,237,404
25 Forest Park MH Park Plattekill NY 230 100% Chase $ 3,000,000
26 Forsythia I Abingdon MD 76 89% PW $ 2,087,508
27 Four Winds Overland Park KS 350 97% Secore $ 9,607,162
28 Fox River Fox River Grove IL 48 94% Chase $ 1,339,174
29 French Quarter Carol Stream IL 240 100% Chase $ 6,945,236
30 Goldentree Apartments Portage MI 180 97% Secore $ 2,881,941
31 Greengate Apartments West Palm Beach FL 120 100% Chase $ 2,752,544
32 Greenglen Wheelersburg OH 68 100% PW $ 994,500
</TABLE>
(TABLE RESTUBBED FROM ABOVE)
<TABLE>
<CAPTION>
ID % OF NOTE MATURITY UND. CUT-OFF MATURITY
POOL RATE DATE DSC LTV LTV
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 1.06% 9.375% 6/1/06 1.52 66% 56%
2 1.47% 7.750% 2/1/06 1.74 64% 56%
3 1.53% 7.750% 2/1/06 1.80 61% 54%
4 0.72% 8.260% 11/1/05 1.33 74% 66%
5 0.35% 9.000% 11/1/06 1.36 74% 66%
6 0.35% 9.000% 11/1/06 1.26 79% 70%
7 0.72% 9.040% 6/1/03 1.46 66% 62%
8 1.04% 7.570% 2/1/03 1.73 62% 57%
9 0.63% 9.000% 11/1/06 1.32 72% 64%
10 1.26% 9.125% 11/1/06 1.27 79% 71%
11 0.39% 9.000% 11/1/06 1.44 78% 70%
12 0.27% 9.000% 11/1/06 1.35 80% 71%
13 0.36% 9.000% 11/1/06 1.23 82% 74%
14 0.42% 9.000% 11/1/06 1.33 81% 73%
15 0.30% 9.000% 11/1/06 1.23 75% 68%
16 2.23% 8.750% 9/1/06 1.36 73% 65%
17 1.61% 7.880% 1/1/06 1.53 77% 68%
18 2.31% 7.880% 1/1/06 1.48 62% 55%
19 0.50% 7.750% 2/1/06 1.51 77% 68%
20 0.62% 9.000% 11/1/06 1.26 84% 75%
21 0.29% 9.000% 11/1/06 1.29 81% 73%
22 0.71% 9.000% 11/1/06 1.33 81% 73%
23 1.49% 8.330% 10/1/02 1.04 72% 65%
24 0.85% 8.840% 6/1/03 1.35 75% 67%
25 1.15% 8.750% 12/1/06 1.39 59% 48%
26 0.80% 9.000% 11/1/06 1.18 84% 75%
27 3.67% 7.930% 2/1/06 1.41 67% 59%
28 0.51% 7.750% 1/1/06 1.98 67% 59%
29 2.65% 7.875% 1/1/06 1.64 77% 68%
30 1.10% 7.980% 3/1/03 1.48 69% 64%
31 1.05% 9.125% 7/1/03 1.36 75% 70%
32 0.38% 9.000% 11/1/06 1.23 75% 68%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
INDIVIDUAL LOAN INFORMATION (CONTINUED)
<TABLE>
<CAPTION>
ID DEAL NAME CITY ST. UNITS OCC. ORIGINATOR CUT-OFF BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
33 Greenglen II Lima OH 55 85% PW $ 892,500
34 Hadley Park Lowell MA 70 99% Chase $ 2,555,549
35 Hampton Greens Dallas TX 309 96% Secore $ 5,754,669
36 Heathmoore I Indianapolis IN 56 93% PW $ 1,230,392
37 Hickory Hill Est. MH Park Pleasant Valley NY 116 100% Chase $ 2,500,000
38 Hickory Mill I Hurricane WV 49 83% PW $ 935,000
39 Hickory Mill II Hurricane WV 45 86% PW $ 816,000
40 Hillcrest Village Crestview FL 65 98% PW $ 979,687
41 Hillview Terrace Pensacola FL 60 98% PW $ 1,100,000
42 Imperial Crown Apts. Lakeland FL 174 95% HCMC $ 3,637,372
43 Kings Crossing I Jacksonville FL 69 96% PW $ 1,180,695
44 Kingston Green Kokomo IN 133 98% Chase $ 2,603,949
45 Kingstown Apartments Savannah GA 129 95% HCMC $ 2,144,088
46 Lakeview Apartments Ingelside IL 66 83% Chase $ 1,395,717
47 Landings Tampa FL 200 94% Secore $ 2,282,024
48 Larkspur II Hilliard OH 61 92% PW $ 1,478,751
49 Mallard Landing Apts. West Palm Beach FL 160 95% Chase $ 4,644,794
50 Maple Glen Apartments West Haven CT 129 93% Chase $ 3,344,611
51 Marina Del Sol Apartments League City TX 66 95% HCMC $ 2,470,745
52 Meadowood Nicholasville KY 67 97% PW $ 1,402,500
53 Meadowood Flatwood Flatwoods KY 53 92% PW $ 863,167
54 Meadowood II Cols Columbus OH 24 96% PW $ 484,500
55 Millburn Ct II Centerville OH 52 87% PW $ 909,600
56 Misty Woods Charlotte NC 228 92% Secore $ 5,407,404
57 Montgomery Court I Dublin OH 60 97% PW $ 1,281,986
58 Newberry Grove City PA 53 100% PW $ 871,648
59 North Shore Estates Highwood IL 252 97% Chase $ 9,919,807
60 Oakland Hills Apartments Margate FL 189 100% Chase $ 5,095,411
61 Parkside Apartments Glen Ellyn IL 120 99% Chase $ 2,700,417
62 Parkville Gas City IN 50 94% PW $ 746,125
63 Peter Paul Apartments West Haven CT 37 97% Chase $ 918,520
64 Plantation Creek Atlanta GA 484 94% Secore $15,788,514
65 Polo Club Fort Worth TX 288 98% HCMC $ 5,203,634
</TABLE>
(TABLE RESTUBBED FROM ABOVE)
<TABLE>
<CAPTION>
ID % OF NOTE MATURITY UND. CUT-OFF MATURITY
POOL RATE DATE DSC LTV LTV
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
33 0.34% 9.000% 11/1/06 1.33 78% 70%
34 0.98% 8.750% 9/1/06 1.62 70% 62%
35 2.20% 7.880% 1/1/06 1.45 74% 65%
36 0.47% 9.000% 11/1/06 1.38 77% 69%
37 0.95% 8.625% 12/1/06 1.44 69% 57%
38 0.36% 9.000% 11/1/06 1.38 81% 73%
39 0.31% 9.000% 11/1/06 1.38 82% 74%
40 0.37% 9.000% 11/1/06 1.30 70% 63%
41 0.42% 9.000% 11/1/06 1.32 70% 63%
42 1.39% 8.600% 9/1/02 1.17 70% 63%
43 0.45% 9.000% 11/1/06 1.29 80% 71%
44 0.99% 7.750% 1/1/06 1.70 70% 62%
45 0.82% 9.040% 7/1/03 1.45 72% 68%
46 0.53% 7.750% 1/1/06 1.67 65% 57%
47 0.87% 7.880% 1/1/06 1.37 59% 52%
48 0.56% 9.000% 11/1/06 1.20 80% 72%
49 1.77% 8.900% 10/1/06 1.23 80% 72%
50 1.28% 9.125% 9/1/06 1.40 73% 65%
51 0.94% 8.730% 5/1/03 1.61 74% 69%
52 0.54% 9.000% 11/1/06 1.35 81% 73%
53 0.33% 9.000% 11/1/06 1.09 72% 64%
54 0.18% 9.000% 11/1/06 1.21 78% 69%
55 0.35% 9.000% 11/1/06 1.19 70% 63%
56 2.06% 7.880% 1/1/06 1.44 64% 56%
57 0.49% 9.000% 11/1/06 1.27 78% 70%
58 0.33% 9.000% 11/1/06 1.36 76% 68%
59 3.79% 7.750% 1/1/06 1.51 76% 67%
60 1.95% 9.200% 7/1/03 1.26 76% 72%
61 1.03% 8.875% 9/1/06 1.35 73% 65%
62 0.28% 9.000% 11/1/06 1.39 68% 61%
63 0.35% 9.125% 9/1/06 1.31 71% 63%
64 6.03% 7.930% 2/1/06 1.49 73% 64%
65 1.99% 8.140% 11/1/02 1.28 74% 69%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1996-2
INDIVIDUAL LOAN INFORMATION (CONTINUED)
<TABLE>
<CAPTION>
ID DEAL NAME CITY ST UNITS OCC. ORIGINATOR CUT OFF
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
66 Princeton Park Lowell MA 208 98% Chase $ 9,608,266
67 Princeton Place Worcester MA 260 98% Chase $ 9,583,309
68 Raintree Village Apartments Sherman TX 144 99% Chase $ 2,896,820
69 Ridgewood I Bedford IN 49 96% PW $ 851,136
70 Shadow Bay II Jacksonville FL 60 95% PW $ 990,946
71 State Run Indianapolis IN 90 99% PW $ 2,030,278
72 Sterling Rowe Apts. Derby CT 64 98% Chase $ 1,362,804
73 Stonehenge Tecumseh MI 49 82% PW $ 1,071,000
74 Stonehenge I Richmond IN 60 100% PW $ 1,123,700
75 Stonehenge Indy Indianapolis IN 60 90% PW $ 1,200,000
76 Stoney Creek Dallas TX 364 93% Secore $ 6,994,899
77 Summer Oaks Apts. Oklahoma City OK 196 95% Chase $ 2,248,732
78 Sunquest Apartments Tucson AZ 334 90% Chase $ 3,991,388
79 Turkscap III Brandon FL 51 96% PW $ 769,490
80 Valleyfield Lexington KY 83 95% PW $ 1,837,415
81 Valleytree Apartments Arlington TX 184 96% Secore $ 4,218,000
82 Waterbury Greenwood IN 45 100% PW $ 825,000
83 Wildbrooke Apartments West Haven CT 54 98% Chase $ 923,512
84 Willow Run New Albany IN 64 98% PW $ 1,131,821
85 Willowood Grove City OH 47 96% PW $ 947,845
86 Willowood I Trotwood OH 60 92% PW $ 865,000
87 Willowood II Grove City OH 27 92% PW $ 552,500
88 Willowood II Wooster OH 54 98% PW $ 869,233
89 Winthrop Court I Columbus OH 62 97% PW $ 1,172,085
90 Wood Creek Mesa AZ 432 93% Secore $12,809,549
91 Woodbine Portsmouth OH 42 100% PW $ 637,500
92 Woodcliff II Lilburn GA 72 88% PW $ 1,683,000
93 Woodlands I Zelienople PA 51 96% PW $ 1,041,250
94 Woodlands II Streetsboro OH 60 100% PW $ 1,590,000
95 Woods of Inverness Houston TX 272 93% Secore $ 5,208,967
96 Woodvalley Anniston AL 69 99% PW $ 1,417,610
---------------
$261,954,164
==============
</TABLE>
(TABLE RESTUBBED FROM ABOVE)
<TABLE>
<CAPTION>
ID % OF POOL NOTE RATE MATURITY DATE UND. DSC CUT-OFF LTV MATURITY LTV
- ------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C>
66 3.67% 8.750% 9/1/06 1.63 79% 70%
67 3.66% 8.750% 9/1/06 1.46 73% 65%
68 1.11% 9.000% 10/1/06 1.42 75% 67%
69 0.32% 9.000% 11/1/06 1.37 79% 71%
70 0.38% 9.000% 11/1/06 1.35 74% 66%
71 0.78% 9.000% 11/1/06 1.27 81% 73%
72 0.52% 9.125% 9/1/06 1.55 72% 64%
73 0.41% 9.000% 11/1/06 1.34 82% 74%
74 0.43% 9.000% 11/1/06 1.36 80% 72%
75 0.46% 9.000% 11/1/06 1.36 77% 69%
76 2.67% 7.880% 1/1/06 1.43 69% 60%
77 0.86% 8.850% 11/1/06 1.47 79% 70%
78 1.52% 9.125% 8/1/06 1.48 63% 57%
79 0.29% 9.000% 11/1/06 1.21 77% 69%
80 0.70% 9.000% 11/1/06 1.20 83% 74%
81 1.61% 7.570% 2/1/03 1.46 70% 65%
82 0.31% 9.000% 11/1/06 1.30 79% 70%
83 0.35% 9.125% 9/1/06 1.34 77% 69%
84 0.43% 9.000% 11/1/06 1.43 75% 67%
85 0.36% 9.000% 11/1/06 1.34 76% 68%
86 0.33% 9.000% 11/1/06 1.16 79% 70%
87 0.21% 9.000% 11/1/06 1.27 79% 71%
88 0.33% 9.000% 11/1/06 1.32 66% 59%
89 0.45% 9.000% 11/1/06 1.32 69% 62%
90 4.89% 7.930% 2/1/06 1.43 73% 65%
91 0.24% 9.000% 11/1/06 1.26 85% 76%
92 0.64% 9.000% 11/1/06 1.39 77% 69%
93 0.40% 9.000% 11/1/06 1.35 83% 75%
94 0.61% 9.000% 11/1/06 1.32 80% 71%
95 1.99% 7.880% 1/1/06 1.47 70% 62%
96 0.54% 9.000% 11/1/06 1.25 79% 71%
---------------------------------------------------------------------------------------
100.00 8.432% 1.43 73% 65%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is qualified
in its entirety by the information in the Prospectus and Prospectus Supplement
for this transaction. The information contained herein is preliminary as of the
date hereof and will be superseded by the applicable final Prospectus and
Prospectus Supplement and any other information subsequently filed with the
Securities and Exchange Commission. These materials are subject to change,
completion, or amendment from time to time without notice, and the Underwriters
are under no obligation to keep you advised of such changes. These materials
are not intended as an offer or solicitation with respect to the purchase or
sale of any security. Any investment decision with respect to the securities
should be made by you based upon the information contained in the final
Prospectus Supplement relating to the securities. You should consult your own
counsel, accountant, and other advisors as to the legal, tax, business,
financial and related aspects of a purchase of these securities.
<PAGE>
A chart providing a geographic overview of the Mortgage Pool is located here.
The chart consists of a map of the United States of America which lists for each
state where Mortgaged Properties are located the following information: (i) the
number of Mortgaged Properties located in such state; (ii) the aggregate dollar
amount of the Mortgage Loans secured by such Mortgaged Properties and (iii) the
percentage that the aggregate dollar amount of the Mortgage Loans secured by
such Mortgaged Properties represents out of the aggregate dollar amount of the
entire Mortgage Pool.
