<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
PRELIMINARY
NEW ISSUE TERM SHEET
ANY INVESTMENT DECISION WTH RESPECT TO THE SECURITIES SHOULD BE MADE BY YOU
BASED UPON THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT
AND PROSPECTUS RELATNG TO THE SECURITIES. THE INFORMATION HEREIN WILL
BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION CONTAINED IN
THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS.
--------------------------------------------------
$817,083,916 (APPROXIMATE)
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2000-3
--------------------------------------------------
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.--DEPOSITOR
THE CHASE MANHATTAN BANK--MASTER SERVICER
LENNAR PARTNERS, INC.--SPECIAL SERVICER
GENERAL ELECTRIC CAPITAL CORPORATION--MORTGAGE LOAN SELLER
HELLER FINANCIAL CAPITAL FUNDING, INC.--MORTGAGE LOAN SELLER
THE CHASE MANHATTAN BANK--MORTGAGE LOAN SELLER
--------------------------------------------------
FOR FURTHER INFORMATION CONTACT:
Scott Davidson
Managing Director
Chase Securities Inc.
212-834-3813
CHASE SECURITIES INC.
Book Running Manager
The analyses in this report are based upon information provided by General
Electric Capital Corporation, Heller Financial Capital Funding, Inc. and The
Chase Manhattan Bank (the "Sellers"). Chase Securities Inc. (the "Underwriter")
makes 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 the
securities referred to herein (the "Securities"). The information contained
herein is preliminary as of the date hereof, supersedes any previous information
delivered to you by the Underwriter and will be superseded by the applicable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 Underwriter is 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 and Prospectus 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
the Securities.
The attached information contains certain tables and other statistical analyses
(the "Computational Materials") which have been prepared in reliance upon
information furnished by the Sellers. They may not be provided to any third
party other than the addressee's legal, tax, financial and/or accounting
advisors for the purposes of evaluating said material. Numerous assumptions were
used in preparing the Computational Materials which may or may not be reflected
therein. As such, no assurance can be given as to the Computational Materials'
accuracy, appropriateness or completeness in any particular context; nor as to
whether the Computational Materials and/or the assumptions upon which they are
based reflect present market conditions or future market performance. These
Computational Materials should not be construed as either projections or
predictions or as legal, tax, financial or accounting advice. Any weighted
average lives, yields and principal payment periods shown in the Computational
Materials are based on prepayment assumptions, and changes in such prepayment
assumptions may dramatically affect such weighted average lives, yields and
principal payment periods. In addition, it is possible that prepayments on the
underlying assets will occur at rates slower or faster than the rates shown in
the attached Computational Materials. Furthermore, unless otherwise provided,
the Computational Materials assume no losses on the underlying assets and no
interest shortfalls. The specific characteristics of the Securities may differ
from those shown in the Computational Materials due to differences between the
actual underlying assets and the hypothetical underlying assets used in
preparing the Computational Materials. The principal amount and designation of
any Security described in the Computational Materials are subject to change
prior to issuance. Neither the Underwriter nor any of its affiliates make any
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. THIS
INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITER AND NOT BY THE ISSUER
OF THE SECURITIES OR ANY OF ITS AFFILIATES (other than Chase Securities Inc.).
THE UNDERWRITER IS NOT ACTING AS AGENT FOR THE ISSUER OR ITS AFFILIATES IN
CONNECTION WITH THE PROPOSED TRANSACTION.
SEPTEMBER 6, 2000
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
SUMMARY OF CERTIFICATES
<TABLE>
<CAPTION>
INITIAL CLASS PRINCIPAL
CERTIFICATE PASS- ASSUMED WEIGHTED OR
BALANCE OR APPROXIMATE THROUGH FINAL AVERAGE EXPECTED NOTIONAL
NOTIONAL CREDIT RATE DISTRIBUTION LIFE RATINGS PRINCIPAL
CLASS AMOUNT (1) SUPPORT DESCRIPTION DATE (5) (YEARS)(6) (S&P/FITCH) WINDOW (6)
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 TBD TBD Fixed TBD TBD AAA TBD
A-2 TBD TBD Fixed TBD TBD AAA TBD
X TBD N/A WAC (I/O)(2) TBD TBD AAA TBD
B TBD TBD Fixed (3) TBD TBD AA TBD
C TBD TBD Fixed (3) TBD TBD A TBD
D TBD TBD Fixed (3) TBD TBD A- TBD
E TBD TBD Variable (4) TBD TBD BBB TBD
F TBD TBD Variable (4) TBD TBD BBB- TBD
G TBD N/A Fixed (3) N/A N/A N/A N/A
H TBD N/A Fixed (3) N/A N/A N/A N/A
I TBD N/A Fixed (3) N/A N/A N/A N/A
J TBD N/A Fixed (3) N/A N/A N/A N/A
K TBD N/A Fixed (3) N/A N/A N/A N/A
L TBD N/A Fixed (3) N/A N/A N/A N/A
M TBD N/A Fixed (3) N/A N/A N/A N/A
-------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Approximate, subject to a permitted variance of plus or minus 10%.
(2) The pass-through rate on the Class X certificates will be equal to the
excess, if any, of (1) the weighted average of the net interest rates on
the mortgage loans (in each case adjusted, if necessary, to accrue on the
basis of a 360-day year consisting of twelve 30-day months), over (2) the
weighted average of the pass-through rates of the other certificates (other
than the residual certificates, the Class S-1 and Class S-2 certificates).
(3) For any distribution date, if the weighted average of the net interest
rates on the mortgage loans (in each case adjusted, if necessary, to accrue
on the basis of a 360-day year consisting of twelve 30-day months) as of
the first day of the related due period is less than the rate specified for
the Class B, Class C or Class D certificates with respect to the
distribution date, then the pass-through rate for that class of
certificates on that distribution date will equal the weighted average net
mortgage interest rate.
(4) The pass-through rate applicable to the Class E and Class F certificates on
each distribution date will be equal to the weighted average of the net
interest rates on the mortgage loans (in each case adjusted, if necessary,
to accrue on the basis of a 360-day year consisting of twelve 30-day
months) minus ____% per annum.
(5) The assumed final distribution dates set forth have been determined on the
basis of the assumptions described in "Description of the
Certificates--Assumed Final Distribution Date; Rated Final Distribution
Date". The rated final distribution date for each class of certificates is
________, 20__. See "Description of the Certificates--Assumed Final
Distribution Date; Rated Final Distribution Date".
(6) The weighted average life and period during which distributions of
principal would be received (or applied in the case of the notional amount
of Class X certificates) set forth in the foregoing table with respect to
each class of certificates is based on the assumptions set forth under
"Yield and Maturity Considerations--Weighted Average Life" and on the
assumptions that there are no prepayments (other than on each anticipated
prepayment date, if any) or losses on the mortgage loans and that there are
no extensions of maturity dates of mortgage loans.
The Class S-1, Class S-2, Class R and Class LR certificates are not offered or
represented in this table.
COLLATERAL OVERVIEW:
--------------------
Aggregate Principal Balance: $817,083,916
Number of Mortgage Loans: 119
Number of Mortgaged Properties: 121
Weighted Average Cut-Off Date Balance: $6,871,848
Weighted Average Current Mortgage Rate: 8.218%
Weighted Average Underwritten DSCR (1): 1.35x
Weighted Average Loan-to-Value Ratio (1): 70.99
Weighted Average Original Term to Maturity 119.88
(months):
Weighted Average Remaining Term to 115.92
Maturity (months):
Weighted Average Remaining Amortization 327.50
Term (months):
Balloon Loans as a % of Total: 96.80%
Single Largest Loan as a % of Total: 5.9%
Three Largest Loans as a % of Total: 13.5%
Ten Largest Loans as a % of Total: 31.5%
(1) Excludes 3 credit tenant lease loans, representing approximately 0.6% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
<TABLE>
<CAPTION>
AGGREGATE LOAN
CUT-OFF DATE % OF PER CUT-OFF
TEN LARGEST LOAN SUMMARY BALANCE IPB SF/UNIT LTV DSCR PROPERTY TYPE
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Le Meridien $47,969,316 5.9% $97,104 58.14% 1.79 Full-Service Hotel
7700 Building 34,914,071 4.3 $167 72.74% 1.22 Office
30 Montgomery Street 27,451,993 3.4 $96 62.39% 1.32 Office
Glenmont Gardens 27,442,709 3.4 $33,183 78.41% 1.23 Multifamily
Holiday Inn Brookline 23,500,000 2.9 $104,44 68.31% 1.45 Full-Service Hotel
Marbury Plaza Apartments 23,500,000 2.8 $33,284 74.26% 1.23 Multifamily
Cambrian Apartments 18,771,232 2.3 $49,011 76.00% 1.25 Multifamily
Two Bent Tree Tower 18,486,441 2.3 $107 78.67% 1.28 Office
The Falls 18,154,724 2.2 $34,913 68.64% 1.20 Multifamily
Danbury Green 17,890,343 2.2 $188 74.54% 1.32 Anchored Retail
TOTAL/WEIGHTED AVERAGE $257,080,828 31.5% 69.74% 1.37
-----------------------------------------------------------------------------------------------------------
</TABLE>
NUMBER OF
MORTGAGE AGGREGATE PRINCIPAL % OF INITIAL POOL
STATE LOANS/PROPERTIES BALANCE BALANCE
-----------------------------------------------------------------------------
California 25/25 $165,949,743 20.3%
Texas 20/20 114,473,457 14.0
Georgia 9/9 72,883,885 8.9
Louisiana 5/5 50,250,661 6.2
Massachusetts 4/4 48,207,951 5.9
Other States 56/58 365,318,218 44.7
TOTAL 119/121 $817,083,916 100.0%
-----------------------------------------------------------------------------
NUMBER % OF
OF AGGREGATE INITIAL
MORTGAGE PRINCIPAL POOL
PREPAYMENT PROVISIONS LOANS BALANCE BALANCE
-------------------------------------------------------------------------------
Lockout period followed by defeasance 116 $788,976,229 96.6%
Lockout period followed by yield maintenance 3 28,107,687 3.4
TOTAL 119 $817,083,916 100.0%
-------------------------------------------------------------------------------
KEY CHARACTERISTICS:
--------------------
Lead Manager: Chase Securities Inc.
Master Servicer: The Chase Manhattan Bank
Special Servicer: Lennar Partners, Inc.
Trustee: State Street Bank and Trust Company
Paying Agent: The Chase Manhattan Bank
Mortgage Loan Sellers: General Electric Capital Corporation (48%)
Heller Financial Capital Funding, Inc. (32%)
The Chase Manhattan Bank (20%)
Closing: On or about September 28, 2000
Cut-Off Date: September 10, 2000
Distribution Date: 15th day of each month or following
business day
ERISA Eligible: Classes A1, A2 and X are expected to be
ERISA eligible
SMMEA Eligible: No classes are eligible
Structure: Sequential Pay
Day Count: 30/360, payable monthly
Tax Treatment: REMIC
Rated Final October 15, 2032
Distribution Date:
Minimum Denominations: 10,000 initial principal amount for the publicly
offered certificates and 1,000,000 initial notional
amount for the Class X certificates. Each certificate
will be offered in multiples of 1 in excess of the
minimum denomination.
Delivery: DTC, Clearstream Banking, Euroclear
NUMBER OF AGGREGATE % OF INITIAL
MORTGAGE PRINCIPAL POOL
PROPERTY TYPE (1) LOANS/PROPERTIES BALANCE BALANCE
----------------------------------------------------------------------
Office 25/25 $227,476,162 27.8%
Retail 43/45 229,927,414 28.2
Multifamily 20/20 177,307,210 21.7
Hotel 9/9 106,711,160 13.1
Industrial 8/8 37,749,277 4.6
Total 105/107 $779,171,223 67.6%
----------------------------------------------------------------------
(1) Represents the property type concentrations in excess of 5% of the aggregate
principal balance of the pool of mortgage loans as of the cut-off date.
NUMBER OF AGGREGATE % OF INITIAL
CURRENT USE OF ALL MORTGAGE PRINCIPAL POOL
MORTGAGED PROPERTIES LOANS/PROPERTIES BALANCE BALANCE
----------------------------------------------------------------------
Office 25/25 $227,476,162 27.8%
Anchored Retail 38/40 202,473,394 24.8
Multifamily 20/20 177,307,210 21.7
Full Service Hotel 6/6 93,229,275 11.4
Industrial 8/8 37,749,277 4.6
Manufactured Housing 9/9 30,313,813 3.7
Unanchored Retail 5/5 27,454,020 3.4
Limited Service Hotel 3/3 13,481,885 1.7
CTL 3/3 4,902,503 0.6
Self Storage 2/2 2,696,377 0.3
Total 119/121 $817,083,916 100.0%
----------------------------------------------------------------------
Page 2 of 2
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
COLLATERAL STATISTICS
NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
RANGE OF DSCR(1) LOANS/PROPERTIES PRINCIPAL BALANCE BALANCE
-------------------------------------------------------------------------------
1.150x to 1.199x 5/5 $ 17,158,762 2.1%
1.200x to 1.229x 21/21 178,941,378 21.9
1.230x to 1.259x 21/21 155,245,944 19.0
1.260x to 1.299x 19/21 142,172,601 17.4
1.300x to 1.369x 24/24 128,282,175 15.7
1.370x to 1.499x 8/8 57,195,874 7.0
1.500x to 3.926x 18/18 133,184,678 16.3
Total 116/118 $812,181,413 99.4%
-------------------------------------------------------------------------------
1. Excludes 3 credit tenant lease loans, representing approximately 0.6% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
NUMBER OF AGGREGATE
RANGE OF LTV AS OF THE MORTGAGE PRINCIPAL % OF INITIAL
CUT-OFF DATE (1) LOANS/PROPERTIES BALANCE POOL BALANCE
-------------------------------------------------------------------------------
24.70% to 59.99% 12/12 $116,843,000 14.3%
60.00% to 64.99% 7/7 55,561,706 6.8
65.00% to 68.99% 8/8 60,464,210 7.4
69.00% to 72.99% 30/32 155,245,944 19.0
73.00% to 76.99% 28/28 211,624,734 25.9
77.00% to 79.99% 33/33 214,075,986 26.2
Total 116/118 $812,181,413 99.4%
-------------------------------------------------------------------------------
1. Excludes 3 credit tenant lease loans, representing approximately 0.6% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
NUMBER OF AGGREGATE
RANGE OF PRINCIPAL MORTGAGE PRINCIPAL % OF INITIAL
CUT-OFF DATE BALANCES LOANS/PROPERTIES BALANCE POOL BALANCE
-------------------------------------------------------------------------------
1,082,594 to 3,000,000 45/47 $88,326,771 10.8%
3,000,001 to 5,000,000 32/32 122,644,296 15.0
5,000,001 to 9,000,000 15/15 111,041,704 13.6
9,000,001 to 15,000,000 13/13 158,432,571 19.4
15,000,001 to 30,000,000 12/12 261,957,103 32.1
30,000,001 to 42,000,000 1/1 31,457,731 3.9
42,000,001 to 48,500,000 1/1 43,223,739 5.3
Total 119/121 $817,083,916 100.0%
-------------------------------------------------------------------------------
NUMBER OF AGGREGATE
RANGE OF REMAINING TERM MORTGAGE PRINCIPAL % OF INITIAL
TO MATURITY OR APD (MONTHS) LOANS/PROPERTIES BALANCE POOL BALANCE
--------------------------------------------------------------------------------
56 to 79 3/3 $11,357,466 1.4%
80 to 99 8/8 76,887,596 9.4
100 to 116 20/20 129,426,092 15.8
117 to 118 18/18 155,654,486 19.1
119 to 120 67/69 422,677,510 51.7
121 to 234 3/3 21,080,765 2.6
Total 119/121 $817,083,916 100.0%
--------------------------------------------------------------------------------
NUMBER OF AGGREGATE
MORTGAGE PRINCIPAL % OF INITIAL
RATES OF MORTGAGE RATES LOANS/PROPERTIES BALANCE POOL BALANCE
-------------------------------------------------------------------------------
6.850% to 7.499% 8/8 $68,308,215 8.4%
7.500% to 7.899% 4/4 49,515,285 6.1
7.900% to 8.199% 16/16 154,673,985 18.9
8.200% to 8.499% 48/50 316,865,143 38.8
8.500% to 8.749% 26/26 164,152,159 20.1
8.750% to 8.999% 14/14 52,456,787 6.4
9.000% to 9.000% 3/3 11,112,341 1.4
Total 119/121 $817,083,916 100.0%
-------------------------------------------------------------------------------
NUMBER OF AGGREGATE
MORTGAGE PRINCIPAL % OF INITIAL
AMORTIZATION TYPES LOANS/PROPERTIES BALANCE POOL BALANCE
-------------------------------------------------------------------------------
Balloon Loans 112/114 $745,180,531 91.2%
APD Loans 3/3 40,854,196 5.0
Interest-only Loans 2/2 26,146,685 3.2
Fully Amortizing Loans 2/2 4,902,503 0.6
Total 119/121 $817,083,916 100.0%
-------------------------------------------------------------------------------
AGGREGATE
NUMBER OF PRINCIPAL % OF INITIAL
BASIS FOR ACCRUAL OF INTEREST MORTGAGE LOANS BALANCE POOL BALANCE
-------------------------------------------------------------------------------
Actual/360 118 $808,913,077 99.0%
30/360 1 8,170,839 1.0
Total 119 $817,083,916 100%
-------------------------------------------------------------------------------
Page 3 of 3
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
SUMMARY OF ISSUE
<TABLE>
<CAPTION>
<S> <C>
ISSUE TYPE: Sequential pay multi-class commercial mortgage REMIC
OFFERED SECURITIES: Classes A-1, A-2, X, B, C, D, E and F
COLLATERAL: Approximately $817,083,916 pool of 119 fixed-rate commercial, multifamily and manufactured
housing mortgage loans
LOAN SELLERS: General Electric Capital Corporation, Heller Financial Capital Funding, Inc. and
The Chase Manhattan Bank
DEPOSITOR: Chase Commercial Mortgage Securities Corp.
UNDERWRITER: Chase Securities Inc.--Book Running Manager
MASTER SERVICER: The Chase Manhattan Bank
PRIMARY SERVICERS: GE Capital Loan Services, Inc. and The Chase Manhattan Bank
SPECIAL SERVICER: Lennar Partners, Inc.
TRUSTEE: State Street Bank and Trust Company
RATING AGENCIES: Standard & Poor's and Fitch
CUT-OFF DATE: September 10, 2000
CLOSING DATE: On or about September 28, 2000
DISTRIBUTION DATE: The 15th day of the month or, if that day is not a business day, the next business day,
beginning in October 2000, provided that the distribution date will be no earlier than the
fourth business day after the related determination date
DETERMINATION DATE: The 11th day of the month in which the related distribution date occurs, or if the 11th day
is not a business day, then the immediately following business day
DENOMINATIONS: The offered certificates (other than the Class X certificates) will be offered in minimum
denominations of $10,000 initial principal amount; the Class X certificates will be offered
in minimum denominations of $1,000,000 initial notional amount
ERISA CONSIDERATIONS: Class A-1, Class A-2 and Class X certificates are expected to be ERISA eligible, subject to
certain conditions
SMMEA ELIGIBILITY: No certificates are eligible
CERTIFICATE REGISTRATION: Certificate owners may hold their certificates through DTC (in the United States) or
Clearstream Banking, societe anonym or The Euroclear System (in Europe) if they are
participants of that system, or indirectly through organizations that are participants in
those systems
</TABLE>
Page 4 of 4
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
STRUCTURAL CHARACTERISTICS
INTEREST ACCRUAL PERIOD: Interest will accrue on the offered certificates
during the calendar month prior to the related
distribution date and will be calculated assuming
that each month has 30 days and each year has 360
days.
PASS-THROUGH RATES: Certificates will accrue interest at an annual rate
called a pass-through rate which is set forth below
for each class other than the Class E, Class F and
Class X certificates:
Class A-1 [__]%
Class A-2 [__]%
Class B [__]% (1)
Class C [__]% (1)
Class D [__]% (1)
(1)For any distribution date, if the weighted
average of the net interest rates on the
mortgage loans (in each case adjusted to accrue
on the basis of a 360-day year consisting of
twelve 30-day months and net of all servicing
and trustee fees) as of the first day of the
related due period is less than the rate
specified for the Class B, Class C or Class D
certificates with respect to the distribution
date, then the pass-through rate for that class
of certificates on that distribution date will
equal the weighted average net mortgage interest
rate.
If you invest in the Class E or Class F
certificates, your pass-through rate will be equal
to the weighted average interest rate of the
mortgage loans (in each case adjusted to accrue on
the basis of a 360-day year consisting of twelve
30-day months and net of all servicing and trustee
fees), less % per annum.
If you invest in the Class X certificates, your
pass-through rate will be equal to the excess, if
any, of (1) the weighted average interest rate of
the mortgage loans (in each case adjusted, if
necessary to accrue on the basis of a 360-day year
consisting of twelve 30-day months and net of all
servicing and trustee fees) over (2) the weighted
average of the pass-through rates of the other
certificates (other than the Class S-1, Class S-2,
Class R and Class LR certificates) as described in
the prospectus supplement.
PRINCIPAL DISTRIBUTIONS: On each distribution date, funds available for
distribution from the mortgage loans, net of
specified trust expenses, will be distributed to
the class of certificates outstanding, with the
earliest alphabetical/numerical Class
designation, until its certificate balance is
reduced to zero. If the principal amount of each
class of certificates other than Class A-1 and
Class A-2 has been reduced to zero, funds
available for principal will be distributed to
Class A-1 and Class A-2, pro rata, rather than
sequentially.
Page 5 of 5
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
STRUCTURAL CHARACTERISTICS (continued)
INTEREST DISTRIBUTIONS: Each class of offered certificates (other than
the Class X certificates) will be entitled on
each distribution date to interest accrued at
its pass-through rate on the outstanding
certificate balance of such class during the
prior calendar month. The Class X certificates
will be entitled on each distribution date to
the interest accrued at the related pass-through
rate on its notional amount during the prior
calendar month.
PREPAYMENT PROVISIONS: Each mortgage loan prohibits any prepayments
(including defeasance) for a specified period of
time after its date of origination (a "Lockout
Period"). In addition, each mortgage loan
restricts voluntary prepayments in one of the
following ways:
(1) 116 of the mortgage loans, representing
approximately 96.6% of the Initial Pool Balance,
permit only defeasance after the expiration of
the Lockout Period; and
(2) 3 of the mortgage loans, representing
approximately 3.4% of the Initial Pool Balance,
requires that any principal prepayment made
during a specified period of time after the
Lockout Period (a "yield maintenance period"),
be accompanied by a Yield Maintenance Charge
YIELD MAINTENANCE CHARGES: On any Distribution Date, yield maintenance
charges collected during the related Due Period
will be required to be distributed by the
Trustee to the holders of the Class X
Certificates. No yield maintenance charges will
be distributed to holders of any other Class of
Certificates.
REPRESENTATIONS General Electric Capital Corporation, Heller
AND WARRANTIES: Financial Capital Funding, Inc. (backed by
Heller Financial, Inc.) and The Chase Manhattan
Bank will make certain representations and
warranties with respect to each mortgage loan
sold by General Electric Capital Corporation,
Heller Financial Capital Funding, Inc. and The
Chase Manhattan Bank, respectively.
Page 6 of 6
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
LE MERIDIEN
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
LOAN INFORMATION PROPERTY INFORMATION
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $48,000,000 $47,969,316 PROPERTY TYPE: Full-Service Hotel
% OF POOL BY IPB: 5.9% LOCATION: New Orleans, LA
ORIGINATOR: GECC YEAR BUILT / RENOVATED: 1984/1999
LOAN DATE 7/27/00 COLLATERAL: Located adjacent to the French
Quarter. The hotel contains
INTEREST RATE: 8.08% 494 rooms, an outdoor pool, a
health club and a restaurant.
REMAINING AMORTIZATION: 323 months
MATURITY DATE: 8/1/10
CURRENT OCCUPANCY: 76.10%
BORROWER/SPONSOR: LaSalle Hotel Operating Partnership
UNDERWRITTEN NET CASH FLOW: $7,843,301
CALL PROTECTION: Lockout followed by defeasance
APPRAISED VALUE: $82,500,000
CROSS-COLLATERALIZATION: No
APPRAISAL DATE: 7/1/00
CASH MANAGEMENT: Springing Hard Lockbox
CUT-OFF DATE LOAN/ROOM: $97,104
RESERVES: 4% Monthly Replacement Reserve at
1.40x DSCR CUT-OFF DATE LTV: 58.14%
BALLOON LTV: 50.03%
UWNCF DSCR: 1.79x
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</TABLE>
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<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
7700 BUILDING
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LOAN INFORMATION PROPERTY INFORMATION
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<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $34,940,000 $34,914,071 PROPERTY TYPE: Office
% OF POOL BY IPB: 4.3% LOCATION: Irvine, CA
ORIGINATOR: Chase YEAR BUILT/RENOVATED: 1989
LOAN DATE 6/27/00 COLLATERAL: A nine-story multi-tenant office
building which contains
INTEREST RATE: 8.50% approximately 208,373 square
feet of net leasable area. The
REMAINING AMORTIZATION: 358 months three largest tenants are
Chrysler Motors Corporation,
MATURITY DATE: 7/10/10 Genson, Even, Crandall and
American Office Centers.
BORROWER/SPONSOR: CGS Real Estate Company, Inc.
CALL PROTECTION: Lockout followed by defeasance CURRENT OCCUPANCY : 98.27%
CROSS-COLLATERALIZATION: No UNDERWRITTEN NET CASH FLOW: $3,922,422
CASH MANAGEMENT: No APPRAISED VALUE: $48,000,000
RESERVES: Monthly Replacement Reserve-$3,385 APPRAISAL DATE: 6/8/00
CUT-OFF DATE LOAN/SF: $167
CUT-OFF DATE LTV: 72.74%
BALLOON LTV: 65.95%
UWNCF DSCR: 1.22x
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</TABLE>
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Page 8 of 8
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
30 MONTGOMERY
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<CAPTION>
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LOAN INFORMATION PROPERTY INFORMATION
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $27,935,320 $27,451,993 PROPERTY TYPE: Office
% OF POOL BY IPB: 3.4% LOCATION: Jersey City, NJ
ORIGINATOR: Heller YEAR BUILT/RENOVATED: 1974/2000
LOAN DATE: 8/13/98
COLLATERAL: A fifteen-story multi-tenant office
INTEREST RATE: 6.85% building and ancillary parking
garage which contains approximately
REMAINING AMORTIZATION: 335 months 286,302 square feet of net leasable
area. The three largest tenants are
MATURITY DATE: 8/1/08 Federal Home Loan Bank of NY, Fred
Alger & Co. Inc. and Jersey City
BORROWER/SPONSOR: Steve Denholtz, Jerold Zaro H.E.D.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No CURRENT OCCUPANCY: 98.52%
CASH MANAGEMENT: No UNDERWRITTEN NET CASH FLOW: $2,909,157
RESERVES: Monthly Replacement Reserve-$4,745 APPRAISED VALUE: $44,000,000
TI/LC taken at Closing-$1,244,000
APPRAISAL DATE: 4/1/00
CUT-OFF DATE LOAN/SF: $96
CUT-OFF DATE LTV: 62.39%
BALLOON LTV: 55.39%
UWNCF DSCR: 1.32x
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Page 9 of 9
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
GLENMONT GARDENS
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LOAN INFORMATION PROPERTY INFORMATION
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<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $27,500,000 $27,442,709 PROPERTY TYPE: Multifamily
% OF POOL BY IPB: 3.4% LOCATION: Baltimore, MD
ORIGINATOR: GECC YEAR BUILT / RENOVATED: 1970/1972
LOAN DATE: 4/14/00 COLLATERAL: An 829-unit apartment complex
consisting of 56 three-story garden
INTEREST RATE: 7.93% style buildings containing 690 units
and 1 fourteen-story building
REMAINING AMORTIZATION: 356 months containing 139 units. Amenities
available to residents include 2
MATURITY DATE: 5/1/10 swimming pools, an exercise room, a
clubhouse, and a playground.
BORROWER/SPONSOR: Victor Posner
CALL PROTECTION: Lockout followed by defeasance
CURRENT OCCUPANCY: 91.19%
CROSS-COLLATERALIZATION: No
UNDERWRITTEN NET CASH FLOW:$2,965,712
CASH MANAGEMENT: No
APPRAISED VALUE: $35,000,000
RESERVES: Monthly Replacement Reserve-$15,545
APPRAISAL DATE: 3/7/00
CUT-OFF DATE LOAN/UNIT: $33,183
CUT-OFF DATE LTV: 78.41%
BALLOON LTV: 70.25%
UWNCF DSCR: 1.23x
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Page 10 of 10
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
HOLIDAY INN BROOKLINE
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<CAPTION>
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LOAN INFORMATION PROPERTY INFORMATION
---------------------------------------------------------------------- -------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $23,500,000 $23,500,000 PROPERTY TYPE: Full-Service Hotel
% OF POOL BY IPB: 2.9% LOCATION: Brookline, MA
ORIGINATOR: Chase YEAR BUILT / RENOVATED: 1964/1994
LOAN DATE: TBD
COLLATERAL: A full-service hotel
INTEREST RATE: 8.50% and ancillary garage
condominium. The
two- and six-story
hotel contains 225
units.
PROPERTY MANAGEMENT: Fine Hotels, Inc.
REMAINING AMORTIZATION: 300 months
MATURITY DATE: 9/10/10
CURRENT OCCUPANCY : 79.00%
BORROWER/SPONSOR: Gerald Fineberg
UNDERWRITTEN NET CASH FLOW: $3,288,764
CALL PROTECTION: Lockout followed by defeasance
APPRAISED VALUE: $34,400,000
CROSS-COLLATERALIZATION: No
APPRAISAL DATE: 7/1/00
CASH MANAGEMENT: No
CUT-OFF DATE/ROOM: $104,444
RESERVES: -
CUT-OFF DATE LTV: 68.31%
BALLOON LTV: 57.22%
UWNCF DSCR: 1.45x
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</TABLE>
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Page 11 of 11
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
MARBURY PLAZA APARTMENTS
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<CAPTION>
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LOAN INFORMATION PROPERTY INFORMATION
---------------------------------------------------------------------- -------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $22,500,000 $22,500,000 PROPERTY TYPE: Multifamily
% OF POOL BY IPB: 2.8% LOCATION: Washington, DC
ORIGINATOR: GECC YEAR BUILT / RENOVATED: 1967/1999
LOAN DATE: TBD
COLLATERAL: A 672-unit apartment
INTEREST RATE: 7.90% complex consisting of
eleven- and
REMAINING AMORTIZATION: 360 months twelve-story buildings
with 573 units and 2
MATURITY DATE: 8/1/10 three-story garden style
buildings containing 99
units. The complex
contains one-, two-and
three-bedroom units.
Amenities available to
residents include two
swimming pools, a
playground, and a
BORROWER/SPONSOR: S. Donald Harlan, III, Stephen D. Harlan clubhouse.
CALL PROTECTION: Lockout followed by defeasance CURRENT OCCUPANCY : 93.79%
CROSS-COLLATERALIZATION: No UNDERWRITTEN NET CASH FLOW: $2,410,068
CASH MANAGEMENT: No APPRAISED VALUE: $30,300,000
RESERVES: Monthly Replacement Reserve-$13,440 APPRAISAL DATE: 7/27/2000
CUT-OFF DATE/UNIT: $33,284
CUT-OFF DATE LTV: 74.26%
BALLOON LTV: 66.32%
UWNCF DSCR: 1.23x
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Page 12 of 12
</TABLE>
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
<TABLE>
<CAPTION>
CAMBRIAN APARTMENTS
---------------------------------------------------------------------- -------------------------------------------------------------
LOAN INFORMATION PROPERTY INFORMATION
---------------------------------------------------------------------- -------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $18,785,000 $18,771,232 PROPERTY TYPE: Multifamily
% OF POOL BY IPB: 2.3% LOCATION: Aurora, CO
ORIGINATOR: GECC YEAR BUILT / RENOVATED: 1982/2000
LOAN DATE: 6/6/00
COLLATERAL: A 383-unit apartment complex
consisting of 16 three-story
INTEREST RATE: 8.53% garden style buildings
located in Aurora, Colorado.
REMAINING AMORTIZATIOn: 358 months The complex contains 145
one-bedroom units and 238
MATURITY DATE: 7/1/10 two-bedroom units.Amenities
available to residents
include a swimming pool, a
BORROWER/SPONSOR: Wiener Family Partnership, Frederick K. fitness center and a
Mehlman, Marc L. Samplin, Terry Simone clubhouse.
CURRENT OCCUPANCY : 95.82%
CALL PROTECTION: Lockout followed by defeasance
UNDERWRITTEN NET CASH FLOW: $2,176,251
CROSS-COLLATERALIZATION: No
APPRAISED VALUE: $24,700,000
CASH MANAGEMENT: No
APPRAISAL DATE: 5/4/00
RESERVES: Monthly Replacement Reserve-$7,980
CUT-OFF DATE/UNIT: $49,011
CUT-OFF DATE LTV: 76.00%
BALLOON LTV: 68.96%
UWNCF DSCR: 1.25x
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<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
TWO BENT TREE TOWER
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<CAPTION>
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LOAN INFORMATION PROPERTY INFORMATION
---------------------------------------------------------------------- -------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $18,500,000 $18,486,441 PROPERTY TYPE: Office
% OF POOL BY IPB: 2.3% LOCATION: Addison, TX
ORIGINATOR: GECC YEAR BUILT / RENOVATED: 1982/1998
LOAN DATE: 6/27/00 COLLATERAL: An eight story multi-tenant
office building and a two
INTEREST RATE: 8.53% level adjacent parking deck.
The building contains
REMAINING AMORTIZATION: 358 months approximately 172,201 square
feet of net leasable area.
MATURITY DATE: 7/1/10 The three largest tenants
are GE Capital Realty Group,
Inc., Centex and Compupros.
BORROWER/SPONSOR: BT Tower II GP, LLC, Sabre Realty
Management, Inc. CURRENT OCCUPANCY : 93.04%
CALL PROTECTION: Lockout followed by defeasance UNDERWRITTEN NET CASH FLOW: $2,184,349
CROSS-COLLATERALIZATION: No APPRAISED VALUE: $23,500,000
CASH MANAGEMENT: No APPRAISAL DATE: 6/1/00
RESERVES: Monthly Replacement Reserve-$2,875 CUT-OFF DATE/SF: $107
Monthly TI/LC-$16,200
CUT-OFF DATE LTV: 78.67%
BALLOON LTV: 71.38%
UWNCF DSCR: 1.28x
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</TABLE>
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Page 14 of 14
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
THE FALLS
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<CAPTION>
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LOAN INFORMATION PROPERTY INFORMATION
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<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $18,250,000 $18,154,724 PROPERTY TYPE: Multifamily
% OF POOL BY IPB: 2.2% LOCATION: Duluth, GA
ORIGINATOR: Chase YEAR BUILT / RENOVATED: 1986/1999
COLLATERAL: A 520-unit apartment
LOAN DATE: 11/18/99 complex with 31
two- and three-story
INTEREST RATE: 7.89% buildings. The complex
contains 236 one-bedroom
REMAINING AMORTIZATION: 351 months units and 284 two-bedroom
units. Amenities available
MATURITY DATE: 6/10/12 to residents include two
community pools, a heated
BORROWER/SPONSOR: Associated Estates Realty Corp. spa, two tennis courts, a
playground, and clubhouse.
CALL PROTECTION: Lockout followed by defeasance CURRENT OCCUPANCY: 88.08%
CROSS-COLLATERALIZATION: No UNDERWRITTEN NET CASH FLOW: $1,913,624
CASH MANAGEMENT: No APPRAISED VALUE: $26,450,000
RESERVES: Monthly Replacement Reserve-$9,521 APPRAISAL DATE: 8/23/99
CUT-OFF DATE/UNIT: $34,913
CUT-OFF DATE LTV: 68.64%
BALLOON LTV: 58.67%
UWNCF DSCR: 1.20x
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Page 15 of 15
<PAGE>
[CHASE LOGO] CHASE
THE RIGHT RELATIONSHIP IS EVERYTHING.(REGISTERED MARK)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
DANBURY GREEN
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LOAN INFORMATION PROPERTY INFORMATION
---------------------------------------------------------------------- -------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL CUT-OFF DATE SINGLE ASSET/ PORTFOLIO: Single Asset
PRINCIPAL BALANCE: $18,000,000 $17,890,343 PROPERTY TYPE: Anchored Retail
% OF POOL BY IPB: 2.2% LOCATION: Danbury, CT
ORIGINATOR: Heller YEAR BUILT / RENOVATED: 1999
LOAN DATE: 9/30/99 COLLATERAL: An anchored retail
shopping center. The
INTEREST RATE: 8.10% building contains
approximately 95,358
REMAINING AMORTIZATION: 349 months square feet of net
leasable area. The
MATURITY DATE: 10/01/09 property is anchored
by a Grand Union,
BORROWER/SPONSOR: Robert Elder Lillian August, and
Staples.
CURRENT OCCUPANCY : 100%
UNDERWRITTEN NET CASH FLOW: $2,113,455
CALL PROTECTION: Lockout followed by defeasance
APPRAISED VALUE: $24,000,000
CROSS-COLLATERALIZATION: No
APPRAISAL DATE: 8/10/99
CASH MANAGEMENT: No
CUT-OFF DATE/SF: $188
RESERVES: Monthly Replacement Reserve-$382
CUT-OFF DATE LTV: 74.54%
BALLOON LTV: 67.35%
UWNCF DSCR: 1.32x
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