SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: June 10, 1997
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
(formerly known as "Chemical Commercial Mortgage Securities Corp.")
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(Exact Name of Registrant)
New York 333-05271 13-3728743
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
380 Madison Avenue, New York 10017-2951
Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 622-3510
<PAGE>
Item 5. Other Events.
On or about April 18, 1997 and May 19, 1997 Chase Commercial Mortgage
Securities Corp. (the "Depositor") made distributions to holders of its
Mortgage Pass-Through Certificates, Series 1996-1 & Series 1996-2 contemplated
by the Pooling and Servicing Agreement dated as of July 1, 1996 and the Pooling
and Servicing Agreement dated as of December 1, 1996 (collectively, the
"Pooling and Servicing Agreements") among the Depositor, The Chase Manhattan
Bank, as Servicer, Lennar Partners Inc., as Special Servicer, LaSalle National
Bank, as Trustee and ABN Amro Bank N.V., as Fiscal Agent.
Copies of the Certificateholders' Reports with respect to such
distributions delivered pursuant to Section 4.02 of the Pooling and Servicing
Agreements are being filed as exhibits to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibit Description
------- -----------
20.1 Monthly Reports with respect to the April 18,
1997 distribution
20.2 Monthly Reports with respect to the May 19,
1997 distribution
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: June 10, 1997
THE CHASE MANHATTAN BANK,
as Paying Agent, on behalf of
Chase Commercial Mortgage
Securities Corp.
By: /s/ Norma Catone
-------------------
Name: Norma Catone
Title: Second Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit Nos. Description
------------ -----------
20.1 Monthly Reports with respect to the
distribution to Certificateholders on
April 18, 1997
20.2 Monthly Reports with respect to the
distribution to Certificateholders on
May 19, 1997
Exhibit 20.1
------------
<TABLE>
<CAPTION>
RUN DATE:04/16/97 14:57:32 Chase Commercial Mortgage Securities Corp. Page 1
DIST. DATE: 18-APR-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 31-MAR-1997
Series 1996-1
Monthly Certificate Holders Report
CLAS CUSIP BEG. BALANCE PRIN. DIST. INT. DIST. PREP PENAL COLL DEFICIT TOTAL DIST END BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 161505AA0 186,765,429.77 417,380.80 1,182,847.72 0.00 0.00 1,600,228.52 186,348,048.97
A2 161505AB8 123,421,002.00 0.00 781,666.35 0.00 0.00 781,666.35 123,421,002.00
B 161505AE2 26,589,563.00 0.00 168,400.57 0.00 0.00 168,400.57 26,589,563.00
C 161505AF9 22,157,969.00 0.00 140,333.80 0.00 0.00 140,333.80 22,157,969.00
D 161505AG7 15,510,578.00 0.00 98,233.66 0.00 0.00 98,233.66 15,510,578.00
E 161505AH5 11,078,984.00 0.00 70,166.90 0.00 0.00 70,166.90 11,078,984.00
F 161505AJ1 24,373,766.00 0.00 154,367.18 0.00 0.00 154,367.18 24,373,766.00
G 161505AK8 17,726,375.00 0.00 112,267.04 0.00 0.00 112,267.04 17,726,375.00
H 161505AL6 11,078,984.00 0.00 70,166.90 0.00 0.00 70,166.90 11,078,984.00
P 161505AC6 1,210,196.14 1,536.17 0.00 0.00 0.00 1,536.17 1,208,659.97
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00
X 161505AD4 439,912,849.44 0.00 300,859.96 0.00 0.00 300,859.96 439,493,932.47
TOTAL: 439,912,846.91 418,916.97 3,079,310.08 0.00 0.00 3,498,227.05 439,493,929.94
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
RUN DATE:04/16/97 14:57:32 Chase Commercial Mortgage Securities Corp. Page 2
DIST. DATE: 18-APR-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 31-MAR-1997
Series 1996-1
Monthly Certificate Holders Report
CLAS CUSIP ACCR INT APPR RED AMT UNPAID INT PRIN FACTOR INT FACTOR E. BAL FACTOR CURR RATE NEXT RATE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A1 161505AA0 1,182,847.72 0.00 0.00 2.19674105 6.22551432 980.77920511 7.60000 7.60000
A2 161505AB8 781,666.35 0.00 0.00 0.00000000 6.33333337 1,000.00000000 7.60000 7.60000
P 161505AC6 0.00 0.00 0.00 1.25693652 0.00000000 988.95881370 0.00000 0.00000
B 161505AE2 168,400.57 0.00 0.00 0.00000000 6.33333350 1,000.00000000 7.60000 7.60000
C 161505AF9 140,333.80 0.00 0.00 0.00000000 6.33333317 1,000.00000000 7.60000 7.60000
D 161505AG7 98,233.66 0.00 0.00 0.00000000 6.33333329 1,000.00000000 7.60000 7.60000
E 161505AH5 70,166.90 0.00 0.00 0.00000000 6.33333345 1,000.00000000 7.60000 7.60000
F 161505AJ1 154,367.18 0.00 0.00 0.00000000 6.33333314 1,000.00000000 7.60000 7.60000
G 161505AK8 112,267.04 0.00 0.00 0.00000000 6.33333324 1,000.00000000 7.60000 7.60000
H 161505AL6 70,166.90 0.00 0.00 0.00000000 6.33333345 1,000.00000000 7.60000 7.60000
R 0.00 0.00 0.00 0.00000000 0.00000000 0.00000000 0.00000 0.00000
X 161505AD4 300,859.96 0.00 0.00 0.00000000 0.67889788 991.72883336 0.82069 0.82068
TOTAL: 3,079,310.08 0.00 0.00
</TABLE>
<PAGE>
RUN DATE:04/16/97 14:57:37 Chase Commercial Mortgage Securities Corp.
DIST. DATE: 18-APR-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 31-MAR-1997
Series 1996-1
Monthly Certificate Holders Report
P & I Advances 40,231.23
Servicing Compensation 48,824.91
Beginning Balance(Mortgage Loans) 439,912,849.44
Ending Balance(Mortgage Loans) 439,493,932.47
Beginning Balance(REO Loans) 0.00
Ending Balance(REO Loans) 0.00
Aggregate Number of Mortgage Loans 87
Aggregate Mortgage Principal Balance 439,493,932.47
Weighted Average Remaining Term to Maturity 104.71
Weighted Average Mortgage Rate 8.53414%
# of Loans Delinquent(1 month) 0
Balance of Loans Delinquent(1 month) 0.00
# of Loans Delinquent(2 month) 0
Balance of Loans Delinquent(2 month) 0.00
# of Loans Delinquent(3 month) 1
Balance of Loans Delinquent(3 month) 3,063,991.25
# of Loans Delinquent(In Foreclosure) 0
Balance of Loans Delinquent(In Foreclosure) 0.00
Appraisal Value of REO Property 0.00
Available Distribution Amount 3,498,227.05
Scheduled Principal Distribution Amount 418,916.97
Unscheduled Principal Distribution Amount 0.00
<PAGE>
<TABLE>
<CAPTION>
RUN DATE:04/16/97 14:18:29 Chase Commercial Mortgage Securities Corp. Page 1
DIST. DATE: 21-APR-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 31-MAR-1997
Series 1996-2
Monthly Certificate Holders Report
CLAS CUSIP BEG. BALANCE PRIN. DIST. INT. DIST. PREP PENAL COLL DEFICIT TOTAL DIST END BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 161505AN2 53,530,332.04 151,166.62 298,877.69 0.00 0.00 450,044.31 53,379,165.42
A-2 161505AP7 128,080,472.00 0.00 736,462.71 0.00 0.00 736,462.71 128,080,472.00
B 161505AQ5 17,027,021.00 0.00 97,905.37 0.00 0.00 97,905.37 17,027,021.00
C 161505AR3 15,717,250.00 0.00 90,374.19 0.00 0.00 90,374.19 15,717,250.00
D 161505AS1 13,097,708.00 0.00 75,311.82 0.00 0.00 75,311.82 13,097,708.00
E 161505AT9 5,239,083.00 0.00 30,124.73 0.00 0.00 30,124.73 5,239,083.00
F 161505AV4 13,097,708.00 0.00 75,311.82 0.00 0.00 75,311.82 13,097,708.00
G 161505AW2 9,168,396.00 0.00 52,718.28 0.00 0.00 52,718.28 9,168,396.00
H 161505AX0 6,548,854.00 0.00 37,655.91 0.00 0.00 37,655.91 6,548,854.00
R N/A 0.00 0.00 0.00 0.00 0.00 0.00 0.00
X 161505AU6 261,506,825.68 0.00 319,495.64 0.00 0.00 319,495.64 261,355,659.06
TOTAL: 261,506,824.04 151,166.62 1,814,238.16 0.00 0.00 1,965,404.78 261,355,657.42
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
RUN DATE:04/16/97 14:18:29 Chase Commercial Mortgage Securities Corp. Page 2
DIST. DATE: 21-APR-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 31-MAR-1997
Series 1996-2
Monthly Certificate Holders Report
CLAS CUSIP ACCR INT PRIN FACTOR INT FACTOR E. BAL FACTOR CURR RATE NEXT RATE
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 161505A 298,877.69 2.80053988 5.53706161 988.91197844 6.70000 6.70000
A-2 161505A 736,462.71 0.00000000 5.74999997 1,000.00000000 6.90000 6.90000
B 161505A 97,905.37 0.00000000 5.74999996 1,000.00000000 6.90000 6.90000
C 161505A 90,374.19 0.00000000 5.75000016 1,000.00000000 6.90000 6.90000
D 161505A 75,311.82 0.00000000 5.74999992 1,000.00000000 6.90000 6.90000
E 161505A 30,124.73 0.00000000 5.75000052 1,000.00000000 6.90000 6.90000
F 161505A 75,311.82 0.00000000 5.74999992 1,000.00000000 6.90000 6.90000
G 161505A 52,718.28 0.00000000 5.75000033 1,000.00000000 6.90000 6.90000
H 161505A 37,655.91 0.00000000 5.74999992 1,000.00000000 6.90000 6.90000
R N/A 0.00 0.00000000 0.00000000 0.00000000 0.00000 0.00000
X 161505A 0.00 0.00000000 1.21966238 997.71523029 1.46610 1.46612
TOTAL: 1,494,742.52
</TABLE>
<PAGE>
RUN DATE:04/16/97 14:18:30 Chase Commercial Mortgage Securities Corp.
DIST. DATE: 21-APR-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 31-MAR-1997
Series 1996-2
Monthly Certificate Holders Report
P & I Advances 0.00
Servicing Compensation 21,522.64
Trustee Compensation 1,874.18
Beginning Balance(Mortgage Loans) 261,506,825.68
Ending Balance(Mortgage Loans) 261,355,659.06
Beginning Balance(REO Loans) 0.00
Ending Balance(REO Loans) 0.00
Aggregate Number of Mortgage Loans 96
Aggregate Mortgage Principal Balance 261,355,659.06
Weighted Average Remaining Term to Maturity 104.47
Weighted Average Mortgage Rate 8.43263%
# of Loans Delinquent(1 month) 0
Balance of Loans Delinquent(1 month) 0.00
# of Loans Delinquent(2 month) 0
Balance of Loans Delinquent(2 month) 0.00
# of Loans Delinquent(3 month) 0
Balance of Loans Delinquent(3 month) 0.00
# of Loans Delinquent(In Foreclosure) 0
Balance of Loans Delinquent(In Foreclosure) 0.00
Appraisal Value of REO Property 0.00
Available Distribution Amount 1,965,404.83
Scheduled Principal Distribution Amount 151,166.62
Unscheduled Principal Distribution Amount 0.00
Exhibit 20.2
------------
DIST. DATE: 19-MAY-1997 Chase Commercial Mortgage Securities Corp.
REC. DATE: 30-APR-1997
Commercial Mortgage Pass-Through Certificates
Series 1996-1
Monthly Certificate Holders Report
<TABLE>
<CAPTION>
CLAS CUSIP BEG. BALANCE PRIN. DIST. INT. DIST. PREP PENAL COLL DEFICIT TOTAL DIST END BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 161505AA0 186,348,048.97 420,350.77 1,180,204.31 0.00 0.00 1,600,555.08 185,927,698.20
A2 161505AB8 123,421,002.00 0.00 781,666.35 0.00 0.00 781,666.35 123,421,002.00
B 161505AE2 26,589,563.00 0.00 168,400.57 0.00 0.00 168,400.57 26,589,563.00
C 161505AF9 22,157,969.00 0.00 140,333.80 0.00 0.00 140,333.80 22,157,969.00
D 161505AG7 15,510,578.00 0.00 98,233.66 0.00 0.00 98,233.66 15,510,578.00
E 161505AH5 11,078,984.00 0.00 70,166.90 0.00 0.00 70,166.90 11,078,984.00
F 161505AJ1 24,373,766.00 0.00 154,367.18 0.00 0.00 154,367.18 24,373,766.00
G 161505AK8 17,726,375.00 0.00 112,267.04 0.00 0.00 112,267.04 17,726,375.00
H 161505AL6 11,078,984.00 0.00 70,168.54 0.00 0.00 70,168.54 11,078,984.00
P 161505AC6 1,208,659.97 1,545.55 0.00 0.00 0.00 1,545.55 1,207,114.42
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00
X 161505AD4 439,493,932.47 0.00 300,569.90 0.00 0.00 300,569.90 439,072,036.15
TOTAL: 439,493,929.94 421,896.32 3,076,378.25 0.00 0.00 3,498,274.57 439,072,033.62
</TABLE>
<PAGE>
Chase Commercial Mortgage Securities Corp.
Commercial Mortgage Pass-Through Certificates
Series 1996-1
Monthly Certificate Holders Report
<TABLE>
<CAPTION>
CLAS CUSIP ACCR INT APPR RED AMT UNPAID INT PRIN FACTOR INT FACTOR E. BAL FACTOR CURR RATE NEXT RATE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A1 161505AA0 1,180,204.31 0.00 0.00 2.21237247 6.21160163 978.56683263 7.60000 7.60000
A2 161505AB8 781,666.35 0.00 0.00 0.00000000 6.33333337 1,000.00000000 7.60000 7.60000
P 161505AC6 0.00 0.00 0.00 1.26461150 0.00000000 987.69420220 0.00000 0.00000
B 161505AE2 168,400.57 0.00 0.00 0.00000000 6.33333350 1,000.00000000 7.60000 7.60000
C 161505AF9 140,333.80 0.00 0.00 0.00000000 6.33333317 1,000.00000000 7.60000 7.60000
D 161505AG7 98,233.66 0.00 0.00 0.00000000 6.33333329 1,000.00000000 7.60000 7.60000
E 161505AH5 70,166.90 0.00 0.00 0.00000000 6.33333345 1,000.00000000 7.60000 7.60000
F 161505AJ1 154,367.18 0.00 0.00 0.00000000 6.33333314 1,000.00000000 7.60000 7.60000
G 161505AK8 112,267.04 0.00 0.00 0.00000000 6.33333324 1,000.00000000 7.60000 7.60000
H 161505AL6 70,166.90 0.00 0.00 0.00000000 6.33348148 1,000.00000000 7.60000 7.60000
R 0.00 0.00 0.00 0.00000000 0.00000000 0.00000000 0.00000 0.00000
X 161505AD4 300,569.90 0.00 0.00 0.00000000 0.67824335 990.77681397 0.82068 0.82068
TOTAL: 3,076,376.61 0.00 0.00
</TABLE>
<PAGE>
Chase Commercial Mortgage Securities Corp.
DIST. DATE: 19-MAY-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 30-APR-1997
Series 1996-1
Monthly Certificate Holders Report
P & I Advances 25,211.32
Servicing Compensation 49,364.87
Beginning Balance(Mortgage Loans) 439,493,932.47
Ending Balance(Mortgage Loans) 439,072,036.15
Beginning Balance(REO Loans) 0.00
Ending Balance(REO Loans) 0.00
Aggregate Number of Mortgage Loans 87
Aggregate Mortgage Principal Balance 439,072,036.15
Weighted Average Remaining Term to Maturity 103.71
Weighted Average Mortgage Rate 8.53414%
# of Loans Delinquent(1 month) 0
Balance of Loans Delinquent(1 month) 0.00
# of Loans Delinquent(2 month) 0
Balance of Loans Delinquent(2 month) 0.00
# of Loans Delinquent(3 month) 0
Balance of Loans Delinquent(3 month) 0.00
# of Loans Delinquent(In Foreclosure) 0
Balance of Loans Delinquent(In Foreclosure) 0.00
Appraisal Value of REO Property 0.00
Available Distribution Amount 3,498,274.52
Scheduled Principal Distribution Amount 421,896.32
Unscheduled Principal Distribution Amount 0.00
<PAGE>
Chase Commercial Mortgage Securities Corp.
DIST. DATE: 19-MAY-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 30-APR-1997
Series 1996-2
Monthly Certificate Holders Report
<TABLE>
<CAPTION>
CLAS CUSIP BEG. BALANCE PRIN. DIST. INT. DIST. PREP PENAL COLL DEFICIT TOTAL DIST END BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 161505AN2 53,379,165.42 152,205.28 298,033.67 0.00 0.00 450,238.95 53,226,960.14
A-2 161505AP7 128,080,472.00 0.00 736,462.71 0.00 0.00 736,462.71 128,080,472.00
B 161505AQ5 17,027,021.00 0.00 97,905.37 0.00 0.00 97,905.37 17,027,021.00
C 161505AR3 15,717,250.00 0.00 90,374.19 0.00 0.00 90,374.19 15,717,250.00
D 161505AS1 13,097,708.00 0.00 75,311.82 0.00 0.00 75,311.82 13,097,708.00
E 161505AT9 5,239,083.00 0.00 30,124.73 0.00 0.00 30,124.73 5,239,083.00
F 161505AV4 13,097,708.00 0.00 75,311.82 0.00 0.00 75,311.82 13,097,708.00
G 161505AW2 9,168,396.00 0.00 52,718.28 0.00 0.00 52,718.28 9,168,396.00
H 161505AX0 6,548,854.00 0.00 37,547.85 0.00 0.00 37,547.85 6,548,854.00
R N/A 0.00 0.00 0.00 0.00 0.00 0.00 0.00
X 161505AU6 261,355,659.06 0.00 319,315.07 0.00 0.00 319,315.07 261,203,453.78
TOTAL: 261,355,657.42 152,205.28 1,813,105.51 0.00 0.00 1,965,310.79 261,203,452.14
</TABLE>
<PAGE>
Chase Commercial Mortgage Securities Corp.
DIST. DATE: 19-MAY-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 30-APR-1997
Series 1996-2
Monthly Certificate Holders Report
<TABLE>
<CAPTION>
CLAS CUSIP ACCR INT PRIN FACTOR INT FACTOR E. BAL FACTOR CURR RATE NEXT RATE
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 161505A 298,033.67 2.81978228 5.52142515 986.09219616 6.70000 6.70000
A-2 161505A 736,462.71 0.00000000 5.74999997 1,000.00000000 6.90000 6.90000
B 161505A 97,905.37 0.00000000 5.74999996 1,000.00000000 6.90000 6.90000
C 161505A 90,374.19 0.00000000 5.75000016 1,000.00000000 6.90000 6.90000
D 161505A 75,311.82 0.00000000 5.74999992 1,000.00000000 6.90000 6.90000
E 161505A 30,124.73 0.00000000 5.75000052 1,000.00000000 6.90000 6.90000
F 161505A 75,311.82 0.00000000 5.74999992 1,000.00000000 6.90000 6.90000
G 161505A 52,718.28 0.00000000 5.75000033 1,000.00000000 6.90000 6.90000
H 161505A 37,655.91 0.00000000 5.73349933 1,000.00000000 6.90000 6.90000
R N/A 0.00 0.00000000 0.00000000 0.00000000 0.00000 0.00000
X 161505A 0.00 0.00000000 1.21897306 997.13419245 1.46612 1.46614
TOTAL: 1,493,898.50
</TABLE>
<PAGE>
Chase Commercial Mortgage Securities Corp.
DIST. DATE: 19-MAY-1997 Commercial Mortgage Pass-Through Certificates
REC. DATE: 30-APR-1997
Series 1996-2
Monthly Certificate Holders Report
P & I Advances 0.00
Servicing Compensation 21,509.68
Trustee Compensation 1,873.07
Beginning Balance(Mortgage Loans) 261,355,659.06
Ending Balance(Mortgage Loans) 261,203,453.78
Beginning Balance(REO Loans) 0.00
Ending Balance(REO Loans) 0.00
Aggregate Number of Mortgage Loans 96
Aggregate Mortgage Principal Balance 261,203,453.78
Weighted Average Remaining Term to Maturity 103.68
Weighted Average Mortgage Rate 8.43274%
# of Loans Delinquent(1 month) 0
Balance of Loans Delinquent(1 month) 0.00
# of Loans Delinquent(2 month) 0
Balance of Loans Delinquent(2 month) 0.00
# of Loans Delinquent(3 month) 0
Balance of Loans Delinquent(3 month) 0.00
# of Loans Delinquent(In Foreclosure) 0
Balance of Loans Delinquent(In Foreclosure) 0.00
Appraisal Value of REO Property 0.00
Available Distribution Amount 1,965,310.79
Scheduled Principal Distribution Amount 152,205.28
Unscheduled Principal Distribution Amount 0.00
