GMAC COMMERCIAL MORTGAGE SECURITIES INC
8-K, 1999-08-09
ASSET-BACKED SECURITIES
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<PAGE>

================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of Earliest Event Reported)     August 5, 1999
                                                          ----------------------

                    GMAC Commercial Mortgage Securities, Inc.
- --------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


                                    Delaware
- --------------------------------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)


          333-64963                                    23-2811925
- ---------------------------------        --------------------------------------
    (Commission File Number)              (I.R.S. Employer Identification No.)


650 Dresher Road, Horsham, Pennsylvania                      19044
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices)                   (Zip Code)


                                 (215) 328-3164
- --------------------------------------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)


                                 Not Applicable
- --------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

================================================================================

<PAGE>

ITEM 5.  OTHER EVENTS.

         In August 1999, the Registrant will cause the issuance and sale of
approximately $1,170,000,000 initial principal amount of various classes of
Mortgage Pass-Through Certificates, Series 1999-C3 (the "Certificates") pursuant
to a Pooling and Servicing Agreement to be dated as of August 1, 1999, among the
Registrant, GMAC Commercial Mortgage Corporation, as Servicer, and Norwest Bank
Minnesota, National Association, as Trustee. In connection with the sale of
certain classes of the Certificates to the public (the "Publicly Offered
Certificates"), the Registrant has been advised by Deutsche Bank Securities Inc.
and Goldman, Sachs & Co. (together, the "Underwriters"), that the Underwriters
have furnished to prospective investors certain descriptive information
regarding the mortgage loans (the "Mortgage Loans") underlying the Certificates
that set forth the number of Mortgage Loans, the principal balance of the
Mortgage Loans, information regarding the mortgage rates thereon and
miscellaneous similar items (the "Collateral Term Sheets") following the
effective date of Registration Statement No. 333-64963 but prior to the
availability of a final Prospectus relating to the Publicly Offered
Certificates. The Collateral Term Sheets are being filed as an exhibit to this
report.

         The Collateral Term Sheets attached hereto have been provided by the
Underwriters. The information in the Collateral Term Sheets is preliminary and
may be superseded by the Prospectus Supplement relating to the Publicly Offered
Certificates and by any other information subsequently filed with the Securities
and Exchange Commission.











                                       -2-

<PAGE>

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

         List below the financial statements, pro forma financial information
and exhibits, if any, filed as part of this report.

         (a)  Financial Statements of Business Acquired

              Not applicable

         (b)  Pro Forma Financial Information

              Not applicable

         (c)  Exhibits.

              99.1  Collateral Term Sheets prepared by the Underwriters in
                    connection with the sale of the Publicly Offered
                    Certificates of the Registrant.












                                       -3-

<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                      GMAC COMMERCIAL MORTGAGE SECURITIES, INC.
                                      (Registrant)




Dated: August 6, 1999                 By: /s/ DAVID LAZARUS
                                         --------------------------------------
                                      Name:   David Lazarus
                                      Title:  Vice President
























                                       -4-

<PAGE>

                                INDEX TO EXHIBITS



Exhibit
  No.      Document Description
- -------    --------------------

99.1       Collateral Term Sheets prepared by the Underwriters in connection
           with the sale of the Publicly Offered Certificates of the Registrant.



















                                       -5-


<PAGE>

This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may be
based on assumptions regarding market conditions and other matters as reflected
therein. We make no representations regarding the reasonableness of such
assumptions or the likelihood that any of such assumptions will coincide with
actual market conditions or events, and this material should not be relied upon
for such purposes. We and our affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including in cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. All information in this spreadsheet, whether regarding the assets
backing any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you.

This material is furnished to you by Deutsche Bank Securities and Goldman, Sachs
& Co. and not by the issuer of the securities. Deutsche Bank Securities, Inc.
and Goldman, Sachs & Co. are acting as the lead managers and neither of these
parties are acting as agent for the issuer or its affiliates in connection with
the proposed transaction. Neither the issuer nor any of its affiliates has
prepared or taken part in the preparation of these materials and neither makes
any representation as to the accuracy of these materials.

<PAGE>

<TABLE>
<CAPTION>
PROPERTY     LOAN
 NUMBER     SELLER    LOAN #      PROPERTY NAME                                           PROPERTY TYPE
 ------     ------    ------      -------------                                           -------------
<S>         <C>       <C>         <C>                                                     <C>
    1       GMAC      22673       Biltmore Fashion Park                                   Anchored Retail
    1       GMAC      21893       Prime Outlets at Niagara Falls                          Anchored Retail
    1       GMAC      22103       Equity Inns Portfolio                                   Various
    2       GMAC                  Equity Inns - AmeriSuites (Overland Park)               Lodging
    3       GMAC                  Equity Inns - AmeriSuites (Columbus)                    Lodging
    4       GMAC                  Equity Inns - AmeriSuites (Memphis)                     Lodging
    5       GMAC                  Equity Inns - AmeriSuites (Glen Allen)                  Lodging
    6       GMAC                  Equity Inns - Hampton Inn (Overland Park)               Lodging
    7       GMAC                  Equity Inns - Hampton Inn (Kansas City)                 Lodging
    8       GMAC                  Equity Inns - Hampton Inn (Memphis)                     Lodging
    9       GMAC                  Equity Inns - Hampton Inn (Richardson)                  Lodging
   10       GMAC                  Equity Inns - Hampton Inn (Morgantown)                  Lodging
   11       GMAC                  Equity Inns - Homewood Suites (Phoenix)                 Lodging
   12       GMAC                  Equity Inns - Homewood Suites (Sharonville)             Lodging
   13       GMAC                  Equity Inns - Homewood Suites (San Antonio)             Lodging
   14       GMAC                  Equity Inns - Residence Inn (Tucson)                    Lodging
   15       GMAC                  Equity Inns - Residence Inn (Eagan)                     Lodging
   16       GMAC                  Equity Inns - Residence Inn (Tinton Falls)              Lodging
   17       GMAC                  Equity Inns - Residence Inn (Portland)                  Lodging
   18       GMAC                  Equity Inns - Hampton Inn (Northville)                  Lodging
   19       GMAC                  Equity Inns - Residence Inn (Princeton)                 Lodging
    1       GMAC      22686       One Colorado                                            Anchored Retail
    1       DB        GA5152      Comerica Bank Building                                  Office
    1       DB        TA5222      120 Monument Circle                                     Office
    1       AR        914142539   125 Maiden Lane                                         Office
    1       GMAC      21584       Texas Development Investors Apartment Portfolio         Multifamily
    2       GMAC                  Willow Creek Apartments                                 Multifamily
    3       GMAC                  Bellfort Southwest IV and V Apartments                  Multifamily
    4       GMAC                  Southwest Village Apartments                            Multifamily
    5       GMAC                  Bellfort Southwest III                                  Multifamily
    1       GMAC      22671       Sherman Plaza East & West Tower                         Office
    1       DB        GA5851      Alliance TP Portfolio                                   Various
    2       DB                    Mulberry Lane Apartments                                Multifamily
    3       DB                    Rambletree Apartments                                   Multifamily
    4       DB                    Robin Oaks Apartments                                   Multifamily
    1       AR        834884757   Bush Tower                                              Office
    1       AR        906995296   County Line Plaza                                       Anchored Retail
    1       DB        GA5614      Sherwood Lakes Apartments                               Multifamily
    1       GMAC      22748       Laurel Apartment Portfolio                              Multifamily
    2       GMAC                  Laurel Walk Apartments                                  Multifamily
    3       GMAC                  Laurel Oaks Apartments                                  Multifamily
    4       GMAC                  Laurel Springs Apartments                               Multifamily
    1       GMAC      21674       Sweet Paper Warehouse                                   Various
    2       GMAC                  Sweet Paper Warehouse - Hialeah                         Industrial
    3       GMAC                  Sweet Paper Warehouse - Atlanta                         Industrial
    4       GMAC                  Sweet Paper Warehouse - Tampa                           Industrial
    5       GMAC                  Sweet Paper Warehouse - Orlando                         Industrial
    6       GMAC                  Sweet Paper Warehouse - Raleigh                         Industrial
    1       DB        TA7316      Sheraton Portsmouth Hotel                               Lodging
    1       AR        826165831   Trinity Commons Shopping Center                         Retail
    1       DB        TA1103      Village Square Apartments                               Multifamily
    1       GMAC      22868       Golden Books Industrial Building                        Industrial
    1       GMAC      23226       Air Touch Building                                      Office
    1       GMAC      23908       Tivoli Lakes Club Apartments                            Multifamily
    1       GMAC      23007       InteSys Technologies, Inc.                              Industrial
    1       GMAC      21223       Hampden Park West/NCI & II                              Various
    2       GMAC                  Hampden Park West                                       Industrial
    3       GMAC                  NCI Buildings I and II                                  Industrial
    1       GMAC      23650       Columbus Park Apartments                                Multifamily
    1       DB        GA4992      The Towers on Wilshire                                  Office
    1       GMAC      23178       Courtyard by Marriott - Charleston                      Lodging
    1       AR        09-0001254  Hillcrest Village Shopping Center                       Retail
    1       AR        09-0001263  Briargrove Place                                        Office
    1       AR        09-0001253  Pitman Corners Shopping Center                          Anchored Retail
    1       DB        GA5891      The Harbor Building                                     Office
    1       GMAC      22760       Sheraton Cerritos                                       Lodging
    1       AR        09-0001248  Plantation Oaks                                         Multifamily
    1       DB        TA0216      The Leamington Office Building                          Office
    1       GMAC      19282       Pacific East Oriental ShoppingMall                      Anchored Retail
    1       GMAC      22396       Riverbend and Cedar Lake Apartments                     Various
    2       GMAC                  Riverbend Apartments                                    Multifamily
    3       GMAC                  Cedar Lake Apartments                                   Multifamily
    1       GMAC      22232       40 Corporate Center                                     Office
    1       GMAC      22040       Milpitas R&D Buildings                                  Office
    1       GMAC      24117       Residence Inn - Foxborough                              Lodging
    1       DB        TA7051      Rancho San Diego Town and Country Phase I               Anchored Retail
    1       GMAC      21704       Cragwood Plaza                                          Office
    1       AR        09-0001229  Lakeside Place Office Building                          Office
    1       GMAC      22941       Heritage Office Building                                Office
    1       GMAC      20869       The Jewelry Building                                    Retail
    1       GMAC      19631       Century Park West Office Building                       Office
    1       GMAC      22471       Austin Lights Apartments                                Multifamily
    1       DB        TA2087      IRS Building                                            Office
    1       GMAC      21517       Preferred Freezer II                                    Industrial
    1       GMAC      19169       St. Augustine Hills Apartments                          Multifamily
    1       GMAC      20599       Ohio Distribution Warehouse                             Industrial
    1       AR        09-0001255  Burleson Towne Centre                                   Anchored Retail
    1       GMAC      20808       Quinby Office Building (CA)                             Office
    1       AR        09-0001264  Shiloh Square Shopping Center                           Anchored Retail
    1       DB        TA1852      Commonwealth Plaza                                      Office
    1       GMAC      23290       AmeriSuites - Irving                                    Lodging
    1       AR        901905420   Windward Town & Country Plaza                           Anchored Retail
    1       GMAC      21568       Residence Inn - Glendale                                Lodging
    1       GMAC      22603       The Bridgeport Apartments                               Multifamily
    1       GMAC      23492       One Corporate Plaza                                     Office
    1       AR        09-0001261  Losee Business Park                                     Industrial
    1       AR        09-0001260  Chimney Apartments                                      Multifamily
    1       DB        TA5740      Jackson Heights Portfolio                               Various
    2       DB                    35-18 95th Street                                       Multifamily
    3       DB                    35-24 95th Street                                       Multifamily
    4       DB                    35-38 95th Street                                       Multifamily
    5       DB                    35-44 95th Street                                       Multifamily
    6       DB                    93-35 Lamont Avenue                                     Multifamily
    1       AR        911660589   1110-1120 Beacon Street                                 Multifamily
    1       AR        906950814   Buckingham Place Shopping Center                        Anchored Retail
    1       GMAC      22788       Plaza Apartments                                        Multifamily
    1       GMAC      22098       Sears Distribution Center                               Industrial
    1       GMAC      22729       Fremont Business Park                                   Office
    1       GMAC      22124       Chase Hill Apartments                                   Multifamily
    1       DB        TA3432      Architect's Building                                    Office
    1       DB        GA5283      Madison Square Shopping Center                          Retail
    1       GMAC      22252       Villa Mirage Apartments                                 Multifamily
    1       GMAC      20670       Summerchase Apartments                                  Multifamily
    1       AR        09-0001243  Crystal Heights Office Center                           Office
    1       AR        09-0001251  Boca Chica Place                                        Anchored Retail
    1       GMAC      19020       The Shops at Pennsville Shopping Center - A Note        Anchored Retail
    1       DB        TA2352      Satcoms Apartments                                      Various
    2       DB                    French Quarter Apartments                               Multifamily
    3       DB                    Crescent Plaza Apartments                               Multifamily
    4       DB                    2101 D Street Apartments                                Multifamily
    5       DB                    Willow Wood Apartments                                  Multifamily
    7       DB                    Arapahoe Village Apartments                             Multifamily
    1       AR        09-0001242  Sharpstown Garden Apartments                            Multifamily
    1       AR        902803901   15 Dutch Street                                         Multifamily
    1       AR        904900980   Kennedy Business Center                                 Industrial
    1       AR        906424723   East Lancaster Plaza                                    Anchored Retail
    1       GMAC      22738       University Corporate Center                             Office
    1       AR        901851850   Summer Pointe & Windrock Apartments                     Multifamily
    1       AR        909033753   Comps Plaza                                             Office
    1       DB        TA4891      Francisco Center II                                     Anchored Retail
    1       DB        TA4664      St. James Garden Apartments                             Multifamily
    1       GMAC      22149       14th & Cary Street Parking Deck                         Special Purpose
    1       GMAC      22136       Willow Oak Plaza                                        Anchored Retail
    1       AR        907120356   Community Manor Apartments                              Multifamily
    1       GMAC      21668       Fairporte Green Shopping Center                         Retail
    1       AR        914565048   Lanham Center                                           Office
    1       AR        09-0001257  Courts of McCallum Apartments                           Multifamily
    1       AR        09-0001249  Bucks County Mall                                       Anchored Retail
    1       AR        09-0001256  San Marcos Place                                        Retail
    1       DB        TA3987      Market Place Center                                     Anchored Retail
    1       DB        TA7792      Mallard Creek Apartments                                Multifamily
    1       GMAC      22272       Carriage Center Retail                                  Retail
    1       DB        TA6788      106 South Harrison Street Apartments                    Multifamily
    1       GMAC      22369       Delta Plaza Shopping Center                             Retail
    1       AR        09-0001246  Tri-State Mini Storage                                  Self-Storage
    1       GMAC      20311       McKinney Square                                         Office
    1       GMAC      21702       Remond Cliff Plaza Apartments                           Multifamily
    1       DB        TA7147      Palmetto Lakes Business Center                          Industrial
    1       DB        TA7423      Westlake Medical Plaza                                  Office
    1       GMAC      22393       Capital Title Building                                  Office
    1       AR        907881339   The North Central Office Building                       Office
    1       GMAC      22669       Scott Company of California                             Industrial
    1       DB        TA6017      420 Columbus Avenue                                     Office
    1       GMAC      23193       Rivercrest Apartments                                   Multifamily
    1       AR        802880743   McCarty Building                                        Office
    1       GMAC      21956       Canden-Damada Apartments                                Multifamily
    1       AR        09-0001245  Citadel Apartments                                      Multifamily
    1       GMAC      22542       Fairview Center (Parkside Plaza - Food Lion
                                  Shopping Ctr.)                                          Anchored Retail
    1       GMAC      19644       100 Morris Avenue                                       Office
    1       GMAC      22156       Delta Villa                                             Mobile Home Park
    1       GMAC      21857       Los Olivos Apartments                                   Multifamily
    1       AR        09-0001262  Commerce Exchange Business Park                         Office
    1       GMAC      21775       Wickham Gardens Condominiums                            Multifamily
    1       GMAC      21159       The Commodore Apartments                                Multifamily
    1       GMAC      18842       South Park Apartments                                   Multifamily
    1       AR        828634107   Fountain Village S.C.                                   Retail
    1       DB        TA7225      Tollhouse Shopping Center                               Retail
    1       DB        TA5907      Sandpiper Mobile Manor                                  Mobile Home Park
    1       GMAC      23338       Logan Point Apartments                                  Multifamily
    1       DB        TA6162      Rushton Portfolio                                       Various
    2       DB                    2 Andrews Drive                                         Industrial
    3       DB                    4 Andrews Drive                                         Industrial
    1       GMAC      22102       Equity Inns - AmeriSuites (Indianapolis)                Lodging
    1       DB        TA1940      47-16 Austell Place                                     Industrial
    1       GMAC      22649       For Eyes Optical                                        Retail
    1       GMAC      18035       Canyon Hills Apartments                                 Multifamily
    1       DB        TA4639      Kailua Trade Center                                     Office
    1       GMAC      22494       Oak Forest Apartments                                   Multifamily
    1       GMAC      22038       Santee Plaza                                            Retail
    1       AR        09-0001244  Tanglewood Business Park                                Mixed Use
    1       GMAC      21211       CVS Pharmacy Baltimore                                  Retail
    1       DB        TA2896      Ahwatukee Office Plaza                                  Office
    1       AR        09-0001220  4444 Westgrove                                          Mixed Use
    1       DB        TA4588      4751 White Lane                                         Retail
    1       GMAC      23294       Park West I Apartments                                  Multifamily
    1       DB        TA7458      North Dawson Business Center                            Industrial
    1       DB        TA6357      228 Lackawana Avenue                                    Industrial
    1       DB        TA4080      120 South Harrison Street                               Multifamily
    1       GMAC      21368       718 North Lake Avenue                                   Retail
    1       DB        TA5681      Park Villa Apartments                                   Multifamily
    1       GMAC      20245       Marshall Plaza                                          Retail
    1       GMAC      21856       13400 Victory Apartments                                Multifamily
    1       AR        09-0001259  Hideaway Apartments                                     Multifamily
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
PROPERTY
 NUMBER               ADDRESS                                        CITY               STATE           ZIP CODE
 ------               -------                                        ----               -----           --------
<S>      <C>                                                     <C>                   <C>                <C>
    1    2470-A East Camelback Road                              Phoenix               Arizona            85016
    1    1900 Military Road                                      Niagara Falls         New York           14304
    1    Various                                                 Various               Various           Various
    2    6801 West 112th Street                                  Overland Park         Kansas             66211
    3    7490 Vantage Drive                                      Columbus              Ohio               43235
    4    7905 Giacosa Place                                      Memphis               Tennessee          38133
    5    4100 Cox Road                                           Glen Allen            Virginia           23060
    6    10591 East Metcalf Frontage Road                        Overland Park         Kansas             66212
    7    11212 North Newark Circle                               Kansas City           Missouri           64153
    8    5320 Poplar Avenue                                      Memphis               Tennessee          38119
    9    1577 Gateway Boulevard                                  Richardson            Texas              75080
   10    1053 Van Voorhis Road                                   Morgantown            West Virginia      26505
   11    2001 East Highland Avenue                               Phoenix               Arizona            85026
   12    2670 East Kemper Road                                   Sharonville           Ohio               45241
   13    4323 Spectrum One                                       San Antonio           Texas              78230
   14    6477 East Speedway Boulevard                            Tucson                Arizona            85710
   15    3040 Eagandale Place                                    Eagan                 Minnesota          55121
   16    90 Park Road                                            Tinton Falls          New Jersey         07724
   17    1710 Northeast Multnomah Street                         Portland              Oregon             97232
   18    20600 Haggerty Road                                     Northville            Michigan           48167
   19    4225 Route 1                                            Princeton             New Jersey         08543
    1    One Colorado Boulevard                                  Pasadena              California         91103
    1    33 West Santa Clara Street                              San Jose              California         95113
    1    120 Monumnet Circle                                     Indianapolis          Indiana            46204
    1    125 Maiden Lane                                         New York              New York           10038
    1    Various                                                 Houston               Texas              77012
    2    7575 Office Center Drive                                Houston               Texas              77012
    3    8201 West Bellfort Avenue                               Houston               Texas              77071
    4    11726 West Bellfort Avenue                              Houston               Texas              77477
    5    6400 West Bellfort Avenue                               Houston               Texas              77035
    1    15350 and 15400 Sherman Way                             Van Nuys              California         91406
    1    Various                                                 Various               Various           Various
    2    2630 Abbott Road                                        Midland               Michigan           48642
    3    326 Ramblewood Drive                                    Glen Ellyn            Illinois           60137
    4    1819 Eastlawn Drive                                     Midland               Michigan           48642
    1    130 W 42nd Street                                       New York              New York           10036
    1    1051 East County Line Road                              Jackson               Mississippi        39211
    1    2010 Sherwood Lake Drive                                Schererville          Indiana            46375
    1    Various                                                 Various               Various           Various
    2    908-201 Summit Lake Drive                               Charlotte             North Carolina     28270
    3    3111-101 Longmeadow Court                               Raleigh               North Carolina     27613
    4    500-103 Bridleridge Drive                               Raleigh               North Carolina     27609
    1    Various                                                 Various               Various           Various
    2    215 SE 10th Avenue                                      Hialeah               Florida            33010
    3    615 Stonehill Drive SW                                  Atlanta               Georgia            30336
    4    1433 Massaro Boulevard                                  Tampa                 Florida            33619
    5    350 Central Florida Parkway                             Orlando               Florida            32824
    6    3915 Beryl Road                                         Raleigh               North Carolina     27607
    1    250 Market Street                                       Portsmouth            New Hampshire      03801
    1    3000-3150 South Hulen Street                            Fort Worth            Texas              76109
    1    3636 Mission Drive                                      Indianapolis          Indiana            46224
    1    107 Tom Starling Road                                   Fayetteville          North Carolina     28348
    1    5165 Emerald Parkway                                    Dublin                Ohio               43017
    1    602 Anderson Circle                                     Deerfield Beach       Florida            33441
    1    1300 North Fiesta Boulevard                             Gilbert               Arizona            85233
    1    Various                                                 Various               Various           Various
    2    1500 W. Hampden Avenue                                  Sheridan              Colorado           80110
    3    300 E. Mineral & 8000 S. Lincoln Avenue                 Littleton             Colorado           80121
    1    5999 Bear Creek Drive                                   Bedford               Ohio               44146
    1    3200 Wilshire Boulevard                                 Los Angeles           California         90010
    1    35 Lockwood Drive                                       Charleston            South Carolina     29401
    1    6959 Arapaho Road                                       Dallas                Texas              75248
    1    17855 Dallas Parkway                                    Dallas                Texas              75287
    1    1301 Custer Road                                        Plano                 Texas              75075
    1    4201 Wilshire Boulevard                                 Los Angeles           California         90010
    1    12725 Center Court Drive                                Cerritos              California         90703
    1    1501 Harvey Road                                        College Station       Texas              77840
    1    1814 Franklin Street                                    Oakland               California         94612
    1    3254 Pierce Street                                      Richmond              California         94804
    1    Various                                                 Various               Various           Various
    2    1502 East Lindsay Street                                Norman                Oklahoma           73071
    3    4119 West Main Street                                   Norman                Oklahoma           73072
    1    40 Corporate Center                                     St. Louis             Missouri           63141
    1    720-740 Milpitas Blvd. & 591-593 Yosemite Blvd.         Milpitas              California         95035
    1    250 Foxborough Boulevard                                Foxborough            Massachusetts      02035
    1    2650 Jamacha Road                                       El Cajon              California         92019
    1    50 Cragwood Road                                        South Plainfield      New Jersey         07080
    1    323 Lakeside Avenue                                     Cleveland             Ohio               44113
    1    10 South Brentwood Boulevard                            Clayton               Missouri           63105
    1    576-578 Fifth Avenue                                    New York              New York           10036
    1    1930 Century Park West                                  Los Angeles           California         90067
    1    1200 Broadmoor Drive                                    Austin                Texas              78723
    1    9350 Flair Drive                                        El Monte              California         91731
    1    231 Elm Street                                          Perth Amboy           New Jersey         08861
    1    2415 Old St. Augustine Road                             Tallahassee           Florida            32301
    1    1650 and 1654 Williams Road                             Columbus              Ohio               43207
    1    805, 855, 877 Northeast Alsburard Blvd                  Burleson              Texas              76028
    1    650 South Grand Avenue                                  Los Angeles           California         90017
    1    2334 West Buckingham Road                               Garland               Texas              75042
    1    3300 - 3320 Truxtun Avenue                              Bakersfield           California         93301
    1    4235 West Airport Freeway                               Irving                Texas              75062
    1    200 Hamakuas Drive                                      Kailua                Hawaii             96734
    1    7275 North Port Washington Road                         Glendale              Wisconsin          53217
    1    16900 Algonquin Street                                  Huntington Beach      California         92649
    1    2525 Bay Area Boulevard                                 Clear Lake            Texas              77060
    1    4310 & 4336 Losee Road                                  North Las Vegas       Nevada             89030
    1    200 North Festival Drive                                El Paso               Texas              79912
    1    Various                                                 Various               Various           Various
    2    35-18 95th Street                                       Jackson Heights       New York           11372
    3    35-24 95th Street                                       Jackson Heights       New York           11372
    4    35-38 95th Street                                       Jackson Heights       New York           11372
    5    35-44 95th Street                                       Jackson Heights       New York           11372
    6    93-35 Lamont Avenue                                     Elmhurst              New York           11372
    1    1110-1120 Beacon Street                                 Brookline             Massachusetts      02146
    1    1332 S. Plano Road                                      Richardson            Texas              75081
    1    982 West Brevard Street                                 Tallahassee           Florida            32304
    1    14650 Miller Avenue                                     Fontana               California         92336
    1    42501 Albrae Street & 42808-42840 Christy Street        Fremont               California         94538
    1    15801 Chase Hill Boulevard                              San Antonio           Texas              78256
    1    117 South 17th Street                                   Philadelphia          Pennsylvania       19103
    1    796 Gallatin Pike Road                                  Nashville             Tennessee          37115
    1    43223 & 43230 Gadsden Avenue                            Lancaster             California         93534
    1    100 McQueen Smith Road South                            Prattville            Alabama            36066
    1    10005 & 10015 Old Columbia                              Columbia              Maryland           21046
    1    2944 Boca Chica Boulevard                               Brownsville           Texas              78521
    1    251 North Broadway                                      Pennsville            New Jersey         08070
    1    Various                                                 Various               Various           Various
    2    4645 Dudley Street                                      Lincoln               Nebraska           68503
    3    3636 North 52nd Street                                  Lincoln               Nebraska           68504
    4    2101 D Street                                           Lincoln               Nebraska           68502
    5    1215 Arapahoe Street                                    Lincoln               Nebraska           68502
    7    1215 Arapahoe Street                                    Lincoln               Nebraska           68502
    1    7575 Bissonet Boulevard                                 Houston               Texas              77074
    1    15 Dutch Street                                         New York              New York           10038
    1    525-580 Kennedy Road                                    Tallmadge (Akron)     Ohio               44305
    1    1004-1060 Avenue J                                      Lancaster             California         93535
    1    761 Corporate Center Drive                              Pomona                California         91768
    1    1149 & 1029 East Brooks Street                          Norman                Oklahoma           73072
    1    9888 Carroll Centre Road                                San Diego             California         92126
    1    610 DuBois Street                                       San Rafael            California         94901
    1    314 East 24th Street                                    Chester               Pennsylvania       19013
    1    1412-1416 East Cary Street                              Richmond              Virginia           23298
    1    901-R West Broad Street (Route250)                      Waynesboro            Virginia           22980
    1    2655 Brighton Henrietta Town Line Road                  Henrietta             New York           14623
    1    1309 West Fairmont Parkway                              LaPorte               Texas              77571
    1    5900 Princess Garden Parkway                            Lanham                Maryland           20706
    1    7777 McCallum Boulevard                                 Dallas                Texas              75252
    1    725-751 Bustleton Pike                                  Feasterville          Pennsylvania       19053
    1    900 Bugg Lane                                           San Marcos            Texas              78666
    1    2900 Rice Street                                        Little Canada         Minnesota          55113
    1    1878 Simonton Road                                      Statesville           North Carolina     28677
    1    12845 Poway Road                                        Poway                 California         92064
    1    106 South Harrison Street                               East Orange           New Jersey         07019
    1    10110 U.S. Highway 19                                   Port Richey           Florida            34653
    1    1050 Ridge Road and 100 Hickman Road                    Claymont              Delaware           19703
    1    2500-2522 McKinney Avenue & 2412-2418 Fairmont Street   Dallas                Texas              75201
    1    2928 Remond Drive                                       Dallas                Texas              75211
    1    4715-4774 N.W. 157th Street                             Miami                 Florida            33167
    1    1220 La Venta Drive                                     Westlake Village      California         91360
    1    2900 East Camelback Road                                Phoenix               Arizona            85016
    1    1000 N. Central Avenue                                  Glendale              California         91203
    1    14920 South San Pedro Street                            Gardena               California         90248
    1    420 Columbus Avenue                                     Mt. Pleasant          New York           10595
    1    525 Lines Drive                                         Albany                Georgia            31705
    1    202 North Ninth Street                                  Boise                 Idaho              83702
    1    Willowcreek Road & Interstate 80/90                     Portage               Indiana            46368
    1    1702 Bushman Drive                                      Kansas City           Missouri           64110
    1    Hwy. 100 and Chester Road                               Fairview              Tennessee          37062
    1    100 Morris Avenue                                       Springfield           New Jersey         07081
    1    1900 Strasbourg Lane                                    Antioch               California         94509
    1    7625 North 19th Avenue                                  Phoenix               Arizona            85021
    1    2835/2860 Exchange Blvd. & 2805 Market                  Southlake             Texas              76092
    1    1267-1299 Burnside Avenue and 5-52 Racebrook Drive      East Hartford         Connecticut        06108
    1    605 Cain Ridge Road                                     Vicksburg             Mississippi        39180
    1    37-59 Charter Oak Street                                Manchester            Connecticut        06040
    1    1100 East Pleasant Run Road                             DeSoto                Texas              75115
    1    305 East Market Street                                  Leesburg              Virginia           20176
    1    Sandpiper Drive                                         Eustis                Florida            37802
    1    5005 Tequesquite Avenue                                 Riverside             California         92501
    1    Various                                                 Various               Various           Various
    2    2 Andrews Drive                                         West Paterson         New Jersey         07424
    3    4 Andrews Drive                                         West Paterson         New Jersey         07424
    1    9104 Keystone Crossing                                  Indianapolis          Indiana            46240
    1    47-16 Austell Place                                     Long Island City      New York           11101
    1    7332 West Colonial Drive                                Orlando               Florida            32818
    1    9010 Magnetic Street                                    El Paso               Texas              79904
    1    75-5706 Hanama Place                                    Kailua Kona           Hawaii             96740
    1    2801 Westridge Circle                                   Bryan-College Station Texas              77801
    1    1141-1143 Santee Street                                 Los Angeles           California         90015
    1    11600 Manchaca Road                                     Austin                Texas              78748
    1    19 North Central Avenue                                 Baltimore             Maryland           21202
    1    11011 S. 48th Street                                    Phoenix               Arizona            85044
    1    4444 Westgrove Drive                                    Addison               Texas              75248
    1    4751 White Lane                                         Bakersfield           California         93309
    1    3751 Martin Luther King Jr. Drive                       Atlanta               Georgia            30331
    1    331-341 North Dawson Drive                              Camarillo             California         93010
    1    228 Lackawana Avenue                                    West Paterson         New Jersey         07424
    1    120 South Harrison Street                               East Orange           New Jersey         07018
    1    718 North Lake Avenue                                   Pasadena              California         91104
    1    525-535 Pontiac Street                                  Oxford                Michigan           48371
    1    1711 East End Boulevard North                           Marshall              Texas              75671
    1    13400 Victory Boulevard                                 Valley Glen           California         91401
    1    6028 Newport Avenue                                     Tulsa                 Oklahoma           74105
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                CROSSED                                                                 CUT-OFF      % OF AGGREGATE
PROPERTY    COLLATERALIZED           RELATED                        ORIGINAL             DATE         INITIAL POOL       GROSS
 NUMBER         GROUPS               GROUPS                        BALANCE ($)        BALANCE ($)        BALANCE      COUPON (%)
 ------         ------               ------                        -----------        -----------        -------      ----------
<S>         <C>               <C>                                  <C>                 <C>                 <C>          <C>
    1       NAP               NAP                                  80,000,000          80,000,000          6.84%        7.68000
    1       NAP               NAP                                  63,000,000          62,873,660          5.38%        7.60400
    1       Equity Inns       Equity Inns                          46,590,000          46,550,800          3.98%        8.37000
    2       NAP               NAP
    3       NAP               NAP
    4       NAP               NAP
    5       NAP               NAP
    6       NAP               NAP
    7       NAP               NAP
    8       NAP               NAP
    9       NAP               NAP
   10       NAP               NAP
   11       NAP               NAP
   12       NAP               NAP
   13       NAP               NAP
   14       NAP               NAP
   15       NAP               NAP
   16       NAP               NAP
   17       NAP               NAP
   18       NAP               NAP
   19       NAP               NAP
    1       NAP               NAP                                  42,670,000          42,649,122          3.65%        8.29000
    1       NAP               NAP                                  34,000,000          33,660,567          2.88%        7.55000
    1       NAP               NAP                                  29,000,000          28,968,172          2.48%        8.09000
    1       NAP               NAP                                  28,500,000          28,500,000          2.44%        8.12000
    1       NAP               NAP                                  27,000,000          26,943,812          2.30%        7.44000
    2       NAP               NAP
    3       NAP               NAP
    4       NAP               NAP
    5       NAP               NAP
    1       NAP               NAP                                  26,000,000          26,000,000          2.22%        7.68000
    1       NAP               NAP                                  24,905,460          24,905,460          2.13%        7.32000
    2       NAP               NAP
    3       NAP               NAP
    4       NAP               NAP
    1       NAP               NAP                                  23,000,000          23,000,000          1.97%        7.99000
    1       NAP               Trademark                            21,000,000          21,000,000          1.80%        7.91000
    1       NAP               NAP                                  20,500,000          20,181,152          1.73%        6.98500
    1       NAP               Zalkind/Love                         18,000,000          17,961,949          1.54%        7.37000
    2       NAP               NAP                                   4,150,000                              0.00%
    3       NAP               NAP                                   7,525,000                              0.00%
    4       NAP               NAP                                   6,325,000                              0.00%
    1                         NAP                                  17,420,000          17,420,000          1.49%        8.26000
    2       NAP               NAP
    3       NAP               NAP
    4       NAP               NAP
    5       NAP               NAP
    6       NAP               NAP
    1       NAP               NAP                                  16,000,000          15,961,012          1.37%        8.52900
    1       NAP               Trademark                            15,250,000          15,250,000          1.30%        7.93000
    1       NAP               FSF                                  15,015,000          15,004,509          1.28%        7.80000
    1       NAP               NAP                                  14,500,000          14,500,000          1.24%        8.50000
    1       NAP               NAP                                  14,000,000          14,000,000          1.20%        7.98000
    1       NAP               NAP                                  13,600,000          13,600,000          1.16%        7.52000
    1       NAP               Corporate Property Associates        13,130,000          13,130,000          1.12%        8.08000
    1       NAP               NAP                                  12,450,000          12,434,379          1.06%        8.13000
    2       NAP               NAP
    3       NAP               NAP
    1       NAP               NAP                                  12,250,000          12,250,000          1.05%        8.28000
    1       NAP               David Y. Lee                         12,000,000          11,861,014          1.01%        7.15000
    1       NAP               NAP                                  11,200,000          11,200,000          0.96%        8.75000
    1       NAP               United Commercial                    10,915,000          10,910,814          0.93%        8.41000
    1       NAP               NAP                                  10,875,000          10,875,000          0.93%        7.54000
    1       NAP               United Commercial                    10,250,000          10,250,000          0.88%        8.23000
    1       NAP               David Y. Lee                         10,200,000          10,112,399          0.87%        6.84000
    1       NAP               NAP                                  10,000,000          10,000,000          0.86%        8.78000
    1       NAP               NAP                                   9,450,000           9,445,587          0.81%        7.89000
    1       NAP               NAP                                   9,500,000           9,412,648          0.81%        7.05000
    1       NAP               NAP                                   9,300,000           9,300,000          0.80%        8.73000
    1       NAP               NAP                                   9,250,000           9,237,180          0.79%        7.66000
    2       NAP               NAP
    3       NAP               NAP
    1       NAP               Clayton-Heritage, LLC                 8,850,000           8,850,000          0.76%        7.96000
    1       NAP               NAP                                   8,800,000           8,788,108          0.75%        7.78000
    1       NAP               NAP                                   8,100,000           8,100,000          0.69%        8.50000
    1       NAP               NAP                                   7,800,000           7,791,623          0.67%        8.17000
    1       NAP               NAP                                   7,500,000           7,500,000          0.64%        8.14000
    1       NAP               NAP                                   7,450,000           7,438,614          0.64%        8.11000
    1       NAP               Corporate Center, LLC                 7,425,000           7,425,000          0.64%        7.96000
    1       NAP               NAP                                   7,400,000           7,390,774          0.63%        8.16000
    1       NAP               NAP                                   7,400,000           7,390,312          0.63%        7.93000
    1       NAP               NAP                                   7,350,000           7,346,276          0.63%        8.17000
    1       NAP               NAP                                   7,200,000           7,109,864          0.61%        7.12000
    1       NAP               NAP                                   7,000,000           7,000,000          0.60%        8.52000
    1       NAP               NAP                                   7,000,000           6,993,350          0.60%        7.78000
    1       NAP               NAP                                   6,985,000           6,975,135          0.60%        7.57000
    1       NAP               United Commercial                     6,600,000           6,600,000          0.56%        8.60000
    1       NAP               NAP                                   6,600,000           6,586,926          0.56%        8.19000
    1       NAP               NAP                                   6,575,000           6,575,000          0.56%        7.69000
    1       NAP               Bynum Associates                      6,400,000           6,315,099          0.54%        7.17000
    1       NAP               NAP                                   6,100,000           6,100,000          0.52%        8.75000
    1       NAP               NAP                                   6,100,000           6,100,000          0.52%        8.16000
    1       NAP               NAP                                   6,100,000           6,088,038          0.52%        8.25000
    1       NAP               NAP                                   6,035,000           6,031,716          0.52%        7.92000
    1       NAP               NAP                                   6,000,000           6,000,000          0.51%        8.33000
    1       NAP               NAP                                   5,940,000           5,940,000          0.51%        8.11000
    1       NAP               NAP                                   5,800,000           5,800,000          0.50%        8.07000
    1                         NAP                                   5,750,000           5,722,696          0.49%        7.90000
    2       NAP               NAP
    3       NAP               NAP
    4       NAP               NAP
    5       NAP               NAP
    6       NAP               NAP
    1       NAP               NAP                                   5,700,000           5,700,000          0.49%        7.91000
    1       NAP               Trademark                             5,600,000           5,600,000          0.48%        7.88000
    1       NAP               NAP                                   5,200,000           5,200,000          0.44%        8.03000
    1       NAP               NAP                                   5,000,000           4,996,841          0.43%        7.37000
    1       NAP               NAP                                   5,000,000           4,991,845          0.43%        7.65000
    1       NAP               NAP                                   5,000,000           4,989,311          0.43%        7.32000
    1       NAP               NAP                                   4,970,000           4,966,356          0.42%        7.56000
    1       NAP               NAP                                   5,000,000           4,924,529          0.42%        7.58500
    1       NAP               NAP                                   5,000,000           4,919,467          0.42%        6.75000
    1       NAP               NAP                                   4,900,000           4,897,430          0.42%        8.05000
    1       NAP               NAP                                   4,828,705           4,823,519          0.41%        8.17000
    1       NAP               NAP                                   4,800,000           4,798,047          0.41%        8.26000
    1       NAP               Zalkind/Love                          4,800,000           4,796,895          0.41%        7.28000
    1                         NAP                                   4,741,471           4,677,886          0.40%        6.76000
    2       NAP               NAP
    3       NAP               NAP
    4       NAP               NAP
    5       NAP               NAP
    7       NAP               NAP
    1       NAP               NAP                                   4,500,000           4,494,595          0.38%        7.75000
    1       NAP               NAP                                   4,440,000           4,440,000          0.38%        8.25000
    1       NAP               NAP                                   4,352,000           4,352,000          0.37%        8.41000
    1       NAP               NAP                                   4,290,000           4,284,941          0.37%        7.82000
    1       NAP               NAP                                   4,245,000           4,239,984          0.36%        8.41000
    1       NAP               NAP                                   4,059,000           4,059,000          0.35%        7.79000
    1       NAP               NAP                                   4,041,000           4,041,000          0.35%        7.98000
    1       NAP               NAP                                   4,040,000           4,035,894          0.35%        8.37000
    1       NAP               NAP                                   4,000,000           3,959,525          0.34%        7.02000
    1       NAP               NAP                                   3,900,000           3,900,000          0.33%        8.46000
    1       NAP               NAP                                   3,800,000           3,791,619          0.32%        7.55000
    1       NAP               NAP                                   3,740,000           3,740,000          0.32%        8.18000
    1       NAP               NAP                                   3,575,000           3,570,495          0.31%        8.11000
    1       NAP               NAP                                   3,500,000           3,500,000          0.30%        8.13000
    1       NAP               NAP                                   3,485,000           3,483,582          0.30%        8.26000
    1       NAP               NAP                                   3,421,000           3,418,416          0.29%        8.38000
    1       NAP               NAP                                   3,375,000           3,373,967          0.29%        8.93000
    1       NAP               NAP                                   3,425,000           3,357,974          0.29%        7.06000
    1       NAP               NAP                                   3,350,000           3,345,594          0.29%        7.79000
    1       NAP               NAP                                   3,300,000           3,292,230          0.28%        8.50000
    1       NAP               1st Connecticut                       3,300,000           3,265,023          0.28%        7.10000
    1       NAP               NAP                                   3,255,000           3,253,444          0.28%        8.37000
    1       NAP               NAP                                   3,250,000           3,243,231          0.28%        7.49000
    1       NAP               NAP                                   3,230,000           3,225,990          0.28%        8.18000
    1       NAP               NAP                                   3,200,000           3,196,011          0.27%        8.16000
    1       NAP               NAP                                   3,150,000           3,146,571          0.27%        8.12000
    1       NAP               Nadler Holdings                       3,150,000           3,145,945          0.27%        7.48000
    1       NAP               NAP                                   3,130,000           3,130,000          0.27%        8.32000
    1       NAP               NAP                                   3,100,000           3,100,000          0.27%        8.08000
    1       NAP               Corporate Property Associates         3,000,000           3,000,000          0.26%        8.21000
    1       NAP               NAP                                   2,775,000           2,767,438          0.24%        8.00000
    1       NAP               NAP                                   2,750,000           2,746,460          0.23%        8.01000
    1       NAP               NAP                                   2,655,000           2,655,000          0.23%        7.81000
    1       NAP               NAP                                   2,600,000           2,596,494          0.22%        7.79000
    1       NAP               NAP                                   2,560,000           2,556,754          0.22%        7.54000
    1       NAP               NAP                                   2,490,000           2,486,795          0.21%        8.01000
    1       NAP               NAP                                   2,460,000           2,458,852          0.21%        8.45000
    1       NAP               NAP                                   2,375,000           2,371,363          0.20%        7.18000
    1       NAP               NAP                                   2,260,000           2,255,360          0.19%        7.50000
    1       NAP               NAP                                   2,190,000           2,190,000          0.19%        8.23000
    1       NAP               NAP                                   2,080,000           2,078,934          0.18%        8.13000
    1       NAP               NAP                                   2,080,000           2,078,804          0.18%        7.72000
    1       NAP               NAP                                   2,050,000           2,047,235          0.18%        7.79000
    1       NAP               NAP                                   2,025,000           2,025,000          0.17%        8.67000
    1       NAP               NAP                                   2,000,000           1,996,785          0.17%        7.94000
    1       NAP               NAP                                   2,000,000           1,987,572          0.17%        7.50000
    1       NAP               NAP                                   1,960,000           1,960,000          0.17%        8.06000
    1       NAP               Rushton                               1,950,000           1,939,542          0.17%        7.28000
    2       NAP               NAP
    3       NAP               NAP
    1       Equity Inns       Equity Inns                           1,920,000           1,918,385          0.16%        8.37000
    1       NAP               NAP                                   1,860,000           1,845,626          0.16%        7.82000
    1       NAP               NAP                                   1,800,000           1,800,000          0.15%        8.12500
    1       NAP               NAP                                   1,800,000           1,796,627          0.15%        7.90000
    1       NAP               NAP                                   1,750,000           1,737,587          0.15%        6.70000
    1       NAP               NAP                                   1,670,000           1,670,000          0.14%        8.25000
    1       NAP               NAP                                   1,650,000           1,649,223          0.14%        8.42000
    1       NAP               NAP                                   1,623,000           1,621,214          0.14%        8.08000
    1       NAP               NAP                                   1,465,000           1,454,598          0.12%        7.72000
    1       NAP               NAP                                   1,450,000           1,438,376          0.12%        7.25000
    1       NAP               NAP                                   1,440,000           1,434,695          0.12%        8.16000
    1       NAP               Bynum Associates                      1,375,000           1,364,420          0.12%        7.43000
    1       NAP               NAP                                   1,325,000           1,325,000          0.11%        8.25000
    1       NAP               Nadler Holdings                       1,250,000           1,247,607          0.11%        7.93000
    1       NAP               Rushton                               1,250,000           1,243,296          0.11%        7.28000
    1       NAP               1st Connecticut                       1,250,000           1,235,151          0.11%        7.00000
    1       NAP               NAP                                   1,168,000           1,167,500          0.10%        8.73000
    1       NAP               NAP                                   1,100,000           1,090,010          0.09%        7.25000
    1       NAP               NAP                                   1,050,000           1,050,000          0.09%        8.52000
    1       NAP               NAP                                     870,000             869,571          0.07%        8.26000
    1       NAP               NAP                                     800,000             799,426          0.07%        8.58000

                                                                                 1,168,933,618.52        100.00%
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                                         ORIGINAL         REMAINING   ORIGINAL
            SERVICING      INTEREST                                                      INTEREST         INTEREST     TERM TO
PROPERTY       FEE          ACCRUAL               AMORTIZATION                          ONLY PERIOD      ONLY PERIOD  MATURITY
 NUMBER     RATE (%)        METHOD                    TYPE                                (MOS.)           (MOS.)      (MOS.)
 ------     --------        ------                    ----                                ------           ------      ------
<S>         <C>          <C>                 <C>                                            <C>              <C>         <C>
    1                    Actual / 360        Interest Only, then Balloon                    12               11          120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    5                    NAP                 NAP
    6                    NAP                 NAP
    7                    NAP                 NAP
    8                    NAP                 NAP
    9                    NAP                 NAP
    10                   NAP                 NAP
    11                   NAP                 NAP
    12                   NAP                 NAP
    13                   NAP                 NAP
    14                   NAP                 NAP
    15                   NAP                 NAP
    16                   NAP                 NAP
    17                   NAP                 NAP
    18                   NAP                 NAP
    19                   NAP                 NAP
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    5                    NAP                 NAP
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    1                    Actual / 360        Interest Only, then Balloon                    47               47          119
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    1                    Actual / 360        Interest Only, then Balloon                    24               22          120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    5                    NAP                 NAP
    6                    NAP                 NAP
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                                             99
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    1                    Actual / 360        Balloon                                         0                           180
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Hyper Amortizing                                0                            84
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Interest Only                                 120              120          120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           180
    1                    Actual / 360        Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    1                    Actual / 360        Interest Only, then Balloon                    24               24          120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Interest Only, then Balloon                    24               24          120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           180
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           121
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                            83
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    5                    NAP                 NAP
    6                    NAP                 NAP
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    4                    NAP                 NAP
    5                    NAP                 NAP
    7                    NAP                 NAP
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           180
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    2                    NAP                 NAP
    3                    NAP                 NAP
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           132
    1                    Actual / 360        Balloon                                         0                           120
    1                    30 / 360            Hyper Amortizing                                0                           119
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Fully Amortizing                                0                           202
    1                    30 / 360            Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Hyper Amortizing                                0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
    1                    Actual / 360        Balloon                                         0                           120
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                   REMAINING
                    TERM TO        ORIGINAL        REMAINING                  MATURITY         BALLOON
PROPERTY           MATURITY      AMORTIZATION    AMORTIZATION  ORIGINATION     DATE OR         OR ARD
 NUMBER             (MOS.)        TERM (MOS.)     TERM (MOS.)     DATE           ARD         BALANCD ($)
 ------             ------        -----------     -----------     ----           ---         -----------
<S>                   <C>            <C>              <C>       <C>            <C>             <C>
    1                 119            360              360       6/16/99        7/10/09         71272907
    1                 117            360              357       4/27/99        5/10/09         54942475
    1                 119            300              299       6/16/99         7/1/09         38094187
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    1                 119            360              359       6/17/99        7/10/09         37746005
    1                 105            360              345       4/30/98         5/1/08         30086430
    1                 118            360              358       4/21/99         6/1/09         25999961
    1                 120            360              360        8/2/99         9/1/09         25563948
    1                 117            360              357       4/30/99        5/10/09         23462062
    2
    3
    4
    5
    1                 120            360              360       7/30/99        8/10/09         22712015
    1                 120            338              338       7/29/98         8/1/09         21339727
    2
    3
    4
    1                 119            360              360       7/30/99         8/1/09         21782540
    1                 120            360              360       7/30/99         8/1/09         18746010
    1                 102            360              342       1/15/98         2/1/08         17585326
    1                 117            360              357        5/3/99        5/10/09         15616950
    2
    3
    4
    1                 118            360              360       6/10/99        6/10/09         15947938
    2
    3
    4
    5
    6
    1                 117            300              297       4/16/99         5/1/09         13395118
    1                 120            360              360       7/30/99         8/1/09         13619741
    1                  98            360              359       6/29/99        10/1/07         13563729
    1                 120            360              360       7/30/99        8/10/09         12879353
    1                 120            360              360       7/28/99        8/10/09         12307115
    1                 120            360              360       7/26/99        8/10/09         11838868
    1                 120            360              360       7/30/99        8/10/09         11566003
    1                 118            360              358       5/27/99         6/1/09         10978115
    2
    3
    1                 180            240              240       7/30/99        8/10/14          5156523
    1                 106            360              346        5/7/98         6/1/08         10333532
    1                  84            300              300       7/29/99         8/1/06         10019142
    1                 119            360              359       6/25/99         7/1/09          9860722
    1                 120              0                0        7/7/99         8/1/09         10875000
    1                 120            360              360        7/2/99         8/1/09          9219600
    1                 110            348              338       9/15/98        10/1/08          8741217
    1                 120            300              300       7/30/99         8/1/09          8257449
    1                 119            360              359        6/7/99         7/1/09          8433151
    1                 109            360              349        8/5/98         9/1/08          8161739
    1                 180            360              360       7/30/99        8/10/14          7345614
    1                 118            360              358       5/14/99        6/10/09          8076744
    2
    3
    1                 120            360              360        8/2/99        8/10/09          8064667
    1                 118            360              358        6/1/99        6/10/09          7703572
    1                 120            300              300       7/30/99         8/1/09          6643979
    1                 118            360              358       5/20/99         6/1/09          7006305
    1                 120            360              360       7/16/99        8/10/09          6614670
    1                 117            360              357       4/26/99         5/1/09          6683736
    1                 120            360              360        8/2/99        8/10/09          6766119
    1                 118            360              358       5/13/99        6/10/09          6529095
    1                 118            360              358       5/13/99        6/10/09          6498443
    1                 119            360              359       6/25/99        7/10/09          6486291
    1                 105            360              345        4/9/98         5/1/08          6195821
    1                 120            300              300       7/19/99        8/10/09          5744489
    1                 119            300              299        7/1/99        7/10/09          5638690
    1                 118            360              358       5/13/99        6/10/09          6087132
    1                 180            360              360        7/2/99         8/1/14          5411295
    1                 118            300              298       5/24/99        6/10/09          5372450
    1                 120            360              360       7/16/99         8/1/09          5837845
    1                 105            360              344        4/1/98         5/1/08          5503389
    1                 120            300              300       7/26/99         8/1/09          5033485
    1                 120            360              360       7/23/99         8/1/09          5477796
    1                  81            300              298        5/5/99         5/1/06          5423977
    1                 119            360              359       6/11/99        7/10/09          5298647
    1                 120            360              360       7/30/99        8/10/09          5311810
    1                 120            360              360        7/2/99         8/1/09          5327832
    1                 120            360              360        7/7/99         8/1/09          5197333
    1                 115            300              295       2/23/99         3/1/09          4728687
    2
    3
    4
    5
    6
    1                 120            360              360       7/30/99         8/1/09          5088202
    1                 120            360              360       7/30/99         8/1/09          4995313
    1                 120            360              360       7/13/99        8/10/09          4575919
    1                 119            360              359       6/17/99        7/10/09          4338047
    1                 119            240              239       6/16/99        7/10/09          3421937
    1                 117            360              357       4/29/99        5/10/09          4333162
    1                 119            360              359       2/12/98         7/1/09          4319394
    1                 106            300              286        5/8/98         6/1/08          4072491
    1                 107            307              294       6/24/98         7/1/08          3969539
    1                 119            360              359       6/25/99        7/10/09          4313685
    1                 118            360              358       5/24/99         6/1/09          4337358
    1                 119            360              359       6/16/99         7/1/09          4321344
    1                 119            360              359        7/1/99         7/5/09          4156075
    1                 105            360              345        4/6/98         5/1/08          4045504
    2
    3
    4
    5
    7
    1                 118            360              358       5/24/99         6/1/09          4001527
    1                 120            360              360        7/6/99         8/1/09          3995523
    1                 120            360              360        8/2/99         9/1/09          3930022
    1                 118            360              358        6/1/99         6/1/09          3821325
    1                 118            360              358        6/9/99        6/10/09          3763982
    1                 120            360              360       7/30/99         8/1/09          3612792
    1                 120            360              360       6/25/99         8/1/09          3613346
    1                 118            360              358       5/25/99         6/1/09          3645824
    1                 108            360              348       7/10/98         8/1/08          3434117
    1                 120            300              300       7/27/99        8/10/09          3195849
    1                 118            300              298       5/26/99        6/10/09          3042478
    1                 120            360              360        7/6/99         8/1/09          3360094
    1                 118            360              358       5/20/99        6/10/09          3151075
    1                 120            360              360       7/29/99         8/1/09          3140777
    1                 119            360              359       6/29/99         7/1/09          3137477
    1                 119            300              299        6/4/99         7/1/09          2852028
    1                 119            360              359       6/24/99         7/1/09          3084661
    1                 110            240              230       9/29/98        10/1/08          2291523
    1                 118            348              346       5/27/99         6/1/09          2943326
    1                 115            381              376       2/12/99         3/1/09          2987633
    1                 111            300              291      10/13/98        11/1/08          2647880
    1                 119            360              359        7/2/99        7/10/09          2883917
    1                 118            300              298       5/27/99         6/1/09          2639871
    1                 118            360              358       5/24/99        6/10/09          2851008
    1                 118            360              358        6/8/99        6/10/09          2823392
    1                 118            360              358       5/17/99         6/1/09          2826138
    1                 118            360              358        5/6/99         6/1/09          2782299
    1                 120            360              360       7/30/99        8/10/09          2770449
    1                 120            360              360       7/22/99         8/1/09          2778545
    1                 120            360              360       7/19/99        8/10/09          2649593
    1                 115            360              355       2/11/99         3/1/09          2483150
    1                 178            360              358       5/27/99         6/1/14          2120836
    1                 120            360              360       7/23/99         8/1/09          2364289
    1                 118            360              358        6/2/99        6/10/09          2276538
    1                 118            360              358       5/27/99         6/1/09          2264589
    1                 118            360              358        6/2/99        6/10/09          2190258
    1                 119            360              359       6/24/99        7/10/09          2182943
    1                 118            360              358        6/1/99        6/10/09          2051695
    1                 117            360              357       4/26/99        5/10/09          1966471
    1                 120            360              360        7/6/99         8/1/09          1969845
    1                 119            360              359       6/25/99        7/10/09          1834096
    1                 119            360              359       6/24/99        7/10/09          1818520
    1                 118            360              358       5/11/99        6/10/09          1794963
    1                 120            360              360       7/30/99         8/1/09          1839811
    1                 117            360              357        4/2/99         5/1/09          1787011
    1                 111            360              351      10/26/98        11/1/08          1766863
    1                 120            360              360       7/28/99        8/10/09          1725829
    1                 115            300              295        2/1/99         3/1/09          1574204
    2
    3
    1                 119            300              299       6/16/99         7/1/09          1569883
    1                 113            300              293      12/23/98         1/1/09          1495278
    1                 132            360              360       7/21/99        8/10/10          1554374
    1                 117            360              357       4/23/99        5/10/09          1579714
    1                 111            360              352        9/4/98        11/1/08          1493902
    1                 120            360              360       7/23/99        8/10/09          1476116
    1                 119            360              359        7/6/99        7/10/09          1463318
    1                 118            360              358       5/26/99         6/1/09          1454756
    1                 199            202              199        5/3/99        3/10/16                0
    1                 110            360              350        9/1/98        10/1/08          1251499
    1                 116            300              296       3/31/99         4/1/09          1192888
    1                 109            360              349       7/31/98         9/1/08          1212619
    1                 120            360              360       7/29/99        8/10/09          1171171
    1                 118            300              298        5/6/99         6/1/09          1028619
    1                 115            300              295        2/1/99         3/1/09          1009107
    1                 110            300              290       9/18/98        10/1/08          1000044
    1                 119            360              359       6/25/99        7/10/09          1041972
    1                 112            300              292       11/6/98        12/1/08           886827
    1                 120            300              300        8/2/99        8/10/09           861674
    1                 119            360              359       6/15/99        7/10/09           769147
    1                 119            300              299       6/30/99         7/1/09           670672
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                                      UNDERWRITTEN                        CROSS -
PROPERTY                     PREPAYMENT                              MONTHLY            NET CASH       UNDERWRITTEN   COLLATERALIZED
 NUMBER                       PROVISION                            PAYMENT ($)          FLOW ($)       NCF DSCR (X)      DSCR (X)
 ------                       ---------                            -----------          --------       ------------      --------
<S>        <C>                                                      <C>                 <C>                <C>              <C>
    1      Lock/25_Defeasance/91_0%/4                               575491.93           9894954            1.43
    1      Lock/27_Defeasance/86_0%/7                               449922.94           7361978            1.36
    1      Lock/35_Defeasance or Substitution/81_0%/4               374997.71           8551567            1.90             1.90
    2      NAP                                                                           329147
    3      NAP                                                                           427069
    4      NAP                                                                           317856
    5      NAP                                                                           496388
    6      NAP                                                                           404571
    7      NAP                                                                           332190
    8      NAP                                                                           436041
    9      NAP                                                                           286046
    10     NAP                                                                           371687
    11     NAP                                                                           653874
    12     NAP                                                                           304815
    13     NAP                                                                           380295
    14     NAP                                                                           489469
    15     NAP                                                                           596340
    16     NAP                                                                           431523
    17     NAP                                                                           971638
    18     NAP                                                                           407910
    19     NAP                                                                           914713
    1      Lock/25_Defeasance/91_0%/4                               325483.48           4887329            1.25
    1      Lock/48_>YM or 1%/68_0%/4                                238898.09           4103369            1.43
    1      Lock/35_Defeasance/81_0%/4                               214614.01           3171370            1.23
    1      Lock/23_Def/93_0%/4                                      211511.95           3336012            1.31
    1      Lock/27_Defeasance/91_0%/2                               189731.10           3050782            1.34
    2      NAP                                                                          2138531
    3      NAP                                                                           436331
    4      NAP                                                                           355370
    5      NAP                                                                           120550
    1      Lock/24_Defeasance/92_0%/4                               187042.19           2783357            1.24
    1      Lock/37_Defeasance/76_Open/7                             174290.58           2488306            1.19
    2      NAP                                                                           938425
    3      NAP                                                                          1154380
    4      NAP                                                                           395498
    1      Lock/34_Def/81_0%/4                                      168605.53           2563622            1.27
    1      Lock/24_Def/92_0%/4                                      152775.06           2185909            1.19
    1      Lock/59_Defeasance/54/0%/7                               136180.56           2158435            1.32
    1      Lock/27_Defeasance/89_0%/4                               125611.11           1841138            1.22
    2      NAP                                                                           413288
    3      NAP                                                                           779039
    4      NAP                                                                           648811
    1      Lock/26_Defeasance/90_0%/4                               132474.71           1987139            1.25
    2      NAP                                                                           943046
    3      NAP                                                                           381433
    4      NAP                                                                           248237
    5      NAP                                                                           227487
    6      NAP                                                                           186936
    1      Lock/27_Defeasance/93_0%/0                               129149.17           1987758            1.28
    1      Lock/24_Def/92_0%/4                                      111155.82           1922887            1.44
    1      Lock/26_Defeasance/69_0%/4                               108088.56           1659160            1.28
    1      Lock/24_Defeasance/96_0%/0                               112782.01           1810351            1.34
    1      Lock/24_Defeasance/94_0%/2                               103680.60           1489044            1.20
    1      Lock/24_Defeasance/94_0%/2                                96313.61           1382941            1.20
    1      Lock/24_Defeasance/92_0%/4                                98171.15           1883664            1.60
    1      Lock/26_Defeasance/94                                     93533.00           1275637            1.14
    2      NAP                                                                          1275637
    3      NAP                                                                                0
    1      Lock/24_Defeasance/152_0%/4                              105552.17           1586031            1.25
    1      Lock/47_Defeasance/66_0%/7                                81048.81           1386612            1.43
    1      Lock/25_Defeasance/57_0%/2                                93064.29           1568306            1.40
    1      Lock/25_Def/91_0%/4                                       83231.70           1253217            1.25
    1      >YM or 1%/24_Def/92_0%/4                                  70608.96           1612498            1.90
    1      Lock/24_Def/92_0%/4                                       76860.75           1131315            1.23
    1      Lock/47_Defeasance/69_0%/4                                67449.92           1100970            1.36
    1      Lock/47_Defeasance/71_0%/2                                83300.91           1491479            1.49
    1      Lock/35_Def/81_0%/4                                       68617.47           1197178            1.45
    1      Lock/35_Defeasance/76_0%/7                                63523.07           1027351            1.35
    1      Lock/24_Defeasance/149_0%/7                               73886.00           1192051            1.34
    1      Lock/26_Defeasance/90_0%/4                                66415.57            951927            1.19
    2      NAP                                                                           545410
    3      NAP                                                                           406517
    1      Lock/24_Defeasance/92_0%/4                                65407.85            942480            1.20
    1      Lock/26_Defeasance/90_0%/4                                63927.32            988977            1.29
    1      Lock/47_Defeasance/71_0%/2                                65909.13           1328178            1.68
    1      Lock/26_Defeasance/90_0%/4                                58160.70            834892            1.20
    1      Lock/24_Defeasance/89_0%/7                                56397.26            845391            1.25
    1      Lock/35_Def/81_0%/4                                       55237.82            934926            1.41
    1      Lock/24_Defeasance/92_0%/4                                54876.08            790480            1.20
    1      Lock/26_Defeasance/90_0%/4                                55752.38            866435            1.30
    1      Lock/26_Defeasance/90_0%/4                                54541.57            852560            1.30
    1      Lock/25_Defeasance/91_0%/4                                55433.73            797200            1.20
    1      Lock/59_Defeasance/54_0%/7                                48483.44            833544            1.43
    1      Lock/24_Defeasance/92_0%/4                                57054.68            907599            1.33
    1      Lock/25_Defeasance/93_0%/2                                53546.17            767940            1.20
    1      Lock/26_Defeasance/90_0%/4                                49712.23           1064338            1.78
    1      Lock/24_Def/152_0%/4                                      51216.77            769054            1.25
    1      Lock/26_Defeasance/90_0%/4                                52307.35            848009            1.35
    1      Lock/24_Def/89_0%7                                        46831.79            704292            1.25
    1      Lock/59_Defeasance/58_0%/4                                43312.55            677778            1.30
    1      Lock/48_Defeasance/70_0%/2                                50686.80            872283            1.43
    1      Lock/35_Def/81_0%/4                                       45441.88            741209            1.36
    1      Lock/47_Defeasance/34_0%/2                                48593.66            845964            1.45
    1      Lock/25_Defeasance/91_0%/4                                44442.42            599794            1.12
    1      Lock/24_Defeasance/92_0%/4                                45933.93            658496            1.19
    1      Lock/35_Def/81_0%/4                                       44041.97            660515            1.25
    1      Lock/24_Def/92_0%/4                                       42841.72            617299            1.20
    1      Lock/29_Defeasance/87_0%/4                                43999.20            679687            1.29
    2      NAP                                                                            92869
    3      NAP                                                                            74672
    4      NAP                                                                            72830
    5      NAP                                                                            89072
    6      NAP                                                                           350244
    1      Lock/35_Def/81_0%/4                                       41467.52            603194            1.21
    1      Lock/24_Def/92_0%/4                                       40623.32            654186            1.34
    1      Lock/24_Defeasance/92_0%/4                                38694.64            575479            1.24
    1      Lock/25_Defeasance/95                                     34891.17            479468            1.15
    1      Lock/25_Defeasance/91_0%/4                                41092.29            776898            1.58
    1      Lock/27_Defeasance/89_0%/4                                34718.51            516862            1.24
    1      Lock/60_Defeasance/56_0%/4                                34955.38            538488            1.28
    1      Lock/47_Defeasance/69_0%/4                                37226.45            812893            1.82
    1      Lock/60_>1% or YM/53_0%/7                                 34545.58            600721            1.45
    1      Lock/25_Defeasance/91_0%/4                                36536.50            544160            1.24
    1      Lock/35_Def/78_0%/7                                       36005.23            573492            1.33
    1      Lock/35_Def/81_0%/4                                       36094.55            527713            1.22
    1      Lock/25_Defeasance/91_0%/4                                33196.01            504932            1.27
    1      Lock/59_Defeasance/61                                     30784.61            507106            1.37
    2      NAP                                                                            98598
    3      NAP                                                                           134773
    4      NAP                                                                            22871
    5      NAP                                                                           157091
    7      NAP                                                                           121281
    1      Lock/35_Def/81_0%/4                                       32238.55            614865            1.59
    1      Lock/35_Def/81_0%/4                                       33356.24            417590            1.04
    1      Lock/23_Def/93_0%/4                                       33185.92            483428            1.21
    1      Lock/35_Def/81_0%/4                                       30941.87            465657            1.25
    1      Lock/26_Defeasance/90_0%/4                                32743.31            471218            1.20
    1      Lock/24_Def/92_0%/4                                       29191.45            621400            1.77
    1      Lock/34_Def/82_0%/4                                       29595.10            456729            1.29
    1      Lock/26_Defeasance/90_0%/4                                30692.66            464457            1.26
    1      Lock/35_Defeasance/81_0%/4                                26665.80            421356            1.32
    1      Lock/24_Defeasance/94_0%/2                                31626.97            477986            1.26
    1      Lock/26_Defeasance/90_0%/4                                28482.22            507950            1.49
    1      Lock/35_Def/78_0%/7                                       27913.54            440356            1.31
    1      Lock/26_Defeasance/90_0%/4                                26806.87            399862            1.24
    1      Lock/24_Def/92_0%/4                                       25999.66            442871            1.42
    1      Lock/35_Def/81_0%/4                                       26206.14            379060            1.21
    1      Lock/35_Def/81_0%/4                                       27270.72            412656            1.26
    1      Lock/35_Def/81_0%/4                                       26986.20            448482            1.38
    1      Lock/35_Defeasance/81_0%/4                                26677.50            387021            1.21
    1      Lock/26 Defeasance/90_0%/4                                24304.11            415298            1.42
    1      Lock/36_Defeasance/80_0%/4                                25374.14            413962            1.36
    1      Lock/47_Defeasance/69_0%/4                                23534.65            365887            1.30
    1      Lock/25_Defeasance/88_0%/7                                25015.94            385942            1.29
    1      Lock/35_Def/81_0%/4                                       23996.08            626076            2.17
    1      Lock/26_Defeasance/94                                     24381.31            368029            1.26
    1      Lock/26_Defeasance/90_0%/4                                24109.14            353133            1.22
    1      Lock/47_Defeasance/69_0%/4                                23377.64            359706            1.28
    1      Lock/26_Defeasance/90_0%/4                                21982.13            389564            1.48
    1      Lock/24_Defeasance/92_0%/4                                23939.73            343682            1.20
    1      Lock/35_Def/81_0%/4                                       22919.82            350039            1.27
    1      Lock/24_Defeasance/92_0%/4                                22708.94            343510            1.26
    1      Lock/59_Defeasance/57_0%/4                                20361.97            317221            1.30
    1      Lock/60_Defeasance/118_0%/2                               20424.93            295929            1.21
    1      Lock/35_Def/81_0%/4                                       19130.94            303040            1.32
    1      Lock/26_Defeasance/90_0%/4                                18905.95            283721            1.25
    1      Lock/26_Def/90_0%/4                                       17970.06            330051            1.53
    1      Lock/26_Defeasance/90_0%/4                                18493.85            281255            1.27
    1      Lock/25_Defeasance/88_0%/7                                19047.79            294770            1.29
    1      Lock/26_Defeasance/90_0%/4                                16259.62            250012            1.28
    1      Lock/27_Defeasance/91_0%/2                                15975.73            243183            1.27
    1      Lock/35_Def/81_0%/4                                       16421.96            245436            1.25
    1      Lock/25_Defeasance/88_0%/7                                15627.96            235143            1.25
    1      Lock/25_Defeasance/91_0%/4                                15023.64            221826            1.23
    1      Lock/26_Defeasance/94                                     14906.61            223864            1.25
    1      Lock/35_Def/81_0%/4                                       15815.12            281351            1.48
    1      Lock/27_Defeasance/89_0%/4                                14591.75            258713            1.48
    1      Lock/59_Defeasance/57_0%/4                                13984.29            258658            1.54
    1      Lock/24_Defeasance/92_0%/4                                14626.73            219831            1.25
    1      Lock/59_Defeasance/57_0%/4                                14132.46            238977            1.41
    2      NAP                                                                            98352
    3      NAP                                                                           140625
    1      Lock/35_Defeasance or Substitution/81_0%/4                15453.86            352684            1.90             1.90
    1      Lock/59_Defeasance/57_0%/4                                14134.70            230749            1.36
    1      Lock/24_Defeasance/104_0%/4                               13516.08            210712            1.30
    1      Lock/27_Defeasance/89_0%/4                                13230.23            225160            1.42
    1      Lock/35_Defeasance/80_0%/4                                11292.36            199482            1.47
    1      Lock/24_Defeasance/94_0%2                                 12689.13            192930            1.27
    1      Lock/25_Defeasance/91_0%/4                                12740.28            200853            1.31
    1      Lock/35_Def/81_0%/4                                       11999.64            200994            1.40
    1      Lock/27_Defeasance/171_0%/4                               13078.79            157775            1.01
    1      Lock/47_Defeasance/69_0%/4                                 9891.56            157638            1.33
    1      Lock/35_Def/81_0%/4                                       11267.21            195983            1.45
    1      Lock/35_Defeasance/81_0%/4                                 9548.38            164886            1.44
    1      Lock/24_Defeasance/92_0%/4                                10067.72            169441            1.40
    1      Lock/26_Defeasance/90_0%/4                                 9589.81            191165            1.66
    1      Lock/59_Defeasance/57_0%/4                                 9059.26            173940            1.60
    1      Lock/47_Defeasance/69_0%/4                                 8834.74            130414            1.23
    1      Lock/25_Defeasance/91_0%/4                                 9280.69            140494            1.26
    1      Lock/59_Defeasance/57_0%4                                  7950.88            128924            1.35
    1      Lock/24_Defeasance/92_0%/4                                 8558.20            124454            1.21
    1      Lock/25_Defeasance/91_0%/4                                 6617.58             95770            1.21
    1      Lock/35_Def/81_0%/4                                        6485.00            146111            1.88
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                        SCHEDULED
                 ORIG            ORIG      CUT-OFF      MATURITY            CROSS -
PROPERTY       APPRAISAL       APPRAISAL    DATE       OR ARD DATE      COLLATERALIZED         YEAR
 NUMBER          VALUE           DATE      LTV (%)       LTV (%)         LTV RATIO (%)         BUILT
 ------          -----           ----      -------       -------         -------------         -----
<S>            <C>              <C>         <C>           <C>                <C>             <C>
    1          132500000        5/5/99      60.38         53.79                              1963-1996
    1           86400000       1/30/99      72.77         63.59                              1960, 1983-1995
    1           93950000                    49.55         40.55              49.29           Various
    2            4050000        4/1/99                                                       1993-1994
    3            4250000        4/1/99                                                       1994
    4            3600000        4/1/99                                                       1996
    5            5050000        4/1/99                                                       1991
    6            4400000        4/1/99                                                       1991
    7            3650000        4/1/99                                                       1987
    8            4100000        4/1/99                                                       1985
    9            2800000        4/1/99                                                       1987
    10           3700000        4/1/99                                                       1991
    11           6150000        4/1/99                                                       1996
    12           4400000        4/1/99                                                       1990
    13           4400000        4/1/99                                                       1996
    14           5300000        4/1/99                                                       1985
    15           5250000        4/1/99                                                       1987
    16           4700000        4/1/99                                                       1988
    17          11100000        4/1/99                                                       1990
    18           4750000        4/1/99                                                       1989
    19          12300000        4/1/99                                                       1988 & 1990
    1           59000000       6/10/99      72.29         63.98                              1890's,1920's
    1           51600000       4/29/99      65.23         58.31                              1983
    1           38900000       2/11/99      74.47         65.52                              1950
    1           38600000        7/1/99      73.83         66.23                              1958
    1           37385000                    72.07         62.76                              Various
    2           25000000       3/16/99                                                       1973
    3            6150000        3/6/99                                                       1980
    4            4435000       3/11/99                                                       1978
    5            1800000        3/9/99                                                       1978
    1           38000000       5/11/99      68.42         59.77                              1984 & 1990
    1           28800000                    86.48         72.11                              Various
    2           10600000       7/15/98                                                       1969-70
    3           14000000       7/15/98                                                       1973
    4            4200000       7/15/98                                                       1966
    1           50000000        7/1/99      46.00         43.57                              1917
    1           25000000       6/22/99      72.00         74.98                              1997
    1           26300000      12/29/98      76.73         66.86                              1972/1976
    1           24380000                    73.67         64.06                              Various
    2            5900000        3/9/99                                                       1986
    3           10140000       3/11/99                                                       1986
    4            8340000       3/10/99                                                       1986
    1           24400000                    71.39         65.36                              Various
    2           12000000       3/17/99                                                       1959, 1972
    3            4600000       3/23/99                                                       1982/1998
    4            3100000       3/18/99                                                       1973
    5            2500000       3/25/99                                                       1981/1995
    6            2200000       3/24/99                                                       1962, 1972
    1           22000000        3/1/99      72.55         60.89                              1988
    1           22150000        6/7/99      68.85         61.49                              1998/2000
    1           18900000        3/2/99      79.39         71.77                              1972
    1           21500000      12/18/99      53.49         59.90                              1974/1983/1992/1999
    1           18000000       6/10/99      77.78         68.37                              1998-1999
    1           17000000       5/26/99      80.00         69.64                              1990/1991
    1           22600000        6/1/99      58.10         51.18                              1987 & 1997
    1           16600000                    64.62         66.13                              Various
    2            7500000        3/1/99                                                       1981-1983
    3            9100000        3/1/99                                                       1980-1981
    1           16750000       6/30/99      73.13         30.79                              Between 1966 & 1973
    1           16500000       3/18/98      71.88         62.63                              1961
    1           15900000        2/1/99      70.44         63.01                              1997
    1           15000000        6/2/99      72.74         65.74                              1979
    1           20800000       5/24/99      52.28         52.28                              1998
    1           13100000        6/2/99      78.24          0.00                              1975
    1           13600000        2/3/99      74.36         63.26                              1958
    1           17200000        6/1/99      58.14         48.01                              1990
    1           12250000       4/22/99      77.11         68.84                              1972
    1           13400000        5/7/98      70.24         60.91                              1929
    1           13060000      10/15/98      58.61         56.25                              1969/1971
    1           11400000                    81.03         70.85                              Various
    2            6600000       3/17/99                                                       1984
    3            4800000       3/17/99                                                       1984
    1           12170000        6/1/99      72.72         66.27                              1989
    1           13100000       4/13/99      67.08         58.81                              1984
    1           14100000        8/1/99      57.45         47.12                              1998
    1           11300000        2/1/99      68.95         62.00                              1990
    1           11700000       12/1/98      64.10         56.54                              1980
    1            9500000       2/25/99      78.30         70.36                              1918
    1           10800000        6/1/99      68.75         62.65                              1959
    1           13600000      12/30/98      43.31         48.01                              1907
    1           12600000       2/18/99      58.65         51.57                              1966
    1           10000000       4/26/99      73.46         64.86                              1969
    1            9500000       1/19/98      74.84         65.22                              1973
    1           10400000        7/1/99      67.31         55.24                              1999
    1            9100000        6/2/99      76.85         61.96                              1996-1998
    1           12700000        2/1/99      54.92         47.93                              1973, 1975
    1            8400000        6/7/99      78.57         64.42                              1987
    1           10400000       1/19/99      63.34         51.66                              1926
    1            8450000       1/20/99      77.81          0.00                              1997
    1            8200000       5/15/99      77.01         67.11                              1987
    1            8600000        7/1/99      70.93         58.53                              1996
    1            7630000       4/22/99      79.95         71.79                              1987
    1            8600000        3/7/99      70.79         63.07                              1988
    1            8700000       4/30/99      64.96         60.90                              1974
    1            9500000       6/16/99      63.16         55.91                              1984
    1            7600000        2/8/99      78.16         70.10                              1997-1998
    1            7250000       5/13/99      80.00         71.69                              1985
    1            7640000                    74.90         61.89                              Various
    2            1000000      12/23/98                                                       1920
    3             840000      12/23/98                                                       1920
    4             860000      12/23/98                                                       1928
    5             960000      12/23/98                                                       1928
    6            3980000      12/23/98                                                       1961
    1            7150000       6/25/99      79.72         71.16                              1905
    1            8000000        7/9/99      70.00         62.44                              1979
    1            6700000       3/17/99      77.61         68.30                              1972
    1            6800000       4/28/99      73.48         63.79                              1991
    1           11050000        3/5/99      45.18         30.97                              1985
    1            6250000       3/10/99      79.83         69.33                              1976, 1996
    1            7100000        1/9/98      69.95         60.94                              1930
    1            9400000       5/11/99      52.39         43.32                              1956
    1            8200000       6/13/98      59.99         48.41                              1990
    1            6150000      11/16/98      79.63         70.14                              1987 & 1991
    1            6600000        4/2/99      73.08         65.72                              1984
    1            6250000       5/12/99      76.77         69.14                              1996, 1998
    1            7200000        4/1/99      66.62         57.72                              1963
    1            6580000                    71.09         61.48                              Various
    2            1150000       5/17/99                                                       1969
    3            1600000       5/17/99                                                       1970
    4             330000       5/17/99                                                       1973
    5            2200000       5/17/99                                                       1973
    7            1300000       5/17/99                                                       1973
    1            6000000        4/5/99      74.91         66.69                              1968
    1            5600000       3/18/99      67.86         71.35                              1900
    1            5900000       6/22/99      73.76         66.61                              1974-1976
    1            5350000       4/14/99      80.09         71.43                              1989
    1            5750000       5/10/99      73.74         65.46                              1985
    1            5700000       5/30/99      71.21         63.38                              1971
    1            5240000        6/1/99      77.12         68.96                              1987
    1            5600000        3/1/99      72.07         65.10                              1988
    1            5000000       4/25/98      79.19         68.68                              1967
    1            5800000        7/2/99      67.24         55.10                              1984
    1            6500000       4/23/99      58.33         46.81                              1965/1973
    1            4650000       4/22/99      80.43         72.26                              1967
    1            5000000       3/28/99      71.41         63.02                              1984
    1            5400000       6/22/99      64.81         58.16                              1975
    1            4350000       5/12/99      80.08         72.13                              1984
    1            5500000        1/1/99      62.15         51.86                              1966 - 1975
    1            4600000       4/27/99      73.35         67.06                              1976, 1985
    1            4650000       7/20/98      72.21         49.28                              1975
    1            4340000        4/1/99      77.09         67.82                              1986
    1            4415000       1/23/99      74.57         67.67                              1971 & 1983
    1            4500000        5/5/98      72.56         58.84                              1924
    1            4675000       2/10/99      69.59         61.69                              1984
    1            5330000       4/26/99      60.85         49.53                              1980-1982, 1985-1989
    1            4700000       3/19/99      68.64         60.66                              1942/1975
    1            4000000       3/19/99      79.90         70.58                              1970
    1            4600000        5/5/99      68.40         61.44                              1984
    1            4400000        2/2/99      71.50         63.23                              1990
    1            4875000        9/1/99      64.21         56.83                              1999
    1            4400000       5/21/99      70.45         63.15                              1983
    1            4200000        3/1/99      71.43         63.09                              1965-1986
    1            3700000       9/15/98      74.80         65.79                              1970
    1            5042000       1/13/99      54.47         42.06                              1997-1998
    1            3670000       6/15/99      72.34         64.42                              1905
    1            3500000       4/13/99      74.19         65.04                              1972-1980
    1            3200000       1/22/99      79.90         70.77                              1970
    1            3100000        5/5/99      80.22         70.65                              1998
    1            3500000      10/28/98      70.25         62.37                              1976
    1            3240000       4/27/99      73.19         63.32                              1986
    1            3050000       3/30/99      73.95         64.47                              1968
    1            2760000       5/10/99      79.35         71.37                              1998/1999
    1            2600000       4/23/99      79.96         70.54                              1962, 1963
    1            2600000       2/25/99      79.95         69.94                              1973
    1            2600000       4/16/99      78.74         69.04                              1925/1965-1967
    1            3000000       5/22/99      67.50         61.33                              1986
    1            3200000        2/2/99      62.40         55.84                              1987
    1            3000000       7/14/98      66.25         57.86                              1967
    1            2650000        6/7/99      73.96         65.13                              1970 thru 1977
    1            2700000                    71.83         58.30                              Various
    2            1175000        9/2/98                                                       1970
    3            1525000        9/2/98                                                       1987
    1            4450000        4/1/99      43.11         35.28             49.29%           1992
    1            3000000       5/12/99      61.52         49.84                              1915
    1            2500000       6/11/99      72.00         62.17                              1999
    1            2600000       3/17/99      69.10         60.76                              1972
    1            2800000       5/15/98      62.06         53.35                              1980
    1            2250000        6/7/99      74.22         65.61                              1981
    1            2400000        5/6/99      68.72         60.97                              1945
    1            2275000       3/30/99      71.26         63.95                              1984, 1986
    1            1750000        3/3/99      83.12          0.00                              1996
    1            2050000       7/31/98      70.16         61.05                              1988
    1            2150000       2/10/99      66.73         55.48                              1985
    1            1850000        6/9/98      73.75         64.41                              1985
    1            1800000       5/27/99      73.61         65.07                              1966
    1            1900000        2/4/99      65.66         54.14                              1982
    1            1800000        9/2/98      69.07         56.06                              1959
    1            2000000        5/5/98      61.76         50.00                              1920
    1            1600000       3/11/99      72.97         65.12                              1998
    1            1500000       8/20/98      72.67         58.07                              1973
    1            1450000       12/2/98      72.41         59.43                              1998
    1            1100000        3/7/99      79.05         69.92                              1970
    1            1200000        1/7/99      66.62         55.89                              1973
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                     CURRENT
                                                                     BALANCE
PROPERTY      YEAR                     UNITS,BEDS,     UNIT         PER UNIT           OCCUPANCY        OCCUPANCY
 NUMBER     RENOVATED                  ROOMS,SQFT   DESCRIPTION      OR SQFT               %              DATE
 ------     ---------                  ----------   -----------      -------               -              ----
<S>        <C>                            <C>       <C>               <C>                 <C>            <C>
    1      1999                           550949    Sq Ft             145.20              96             6/15/99
    1      1996                           533192    Sq Ft             117.92              96              3/1/99
    1      Various                          2327    Rooms           20004.64
    2      1998-1999                         126    Rooms                                 68             6/30/99
    3      1998-1999                         126    Rooms                                 69             6/30/99
    4      NAP                               128    Rooms                                 65             6/30/99
    5      1998                              126    Rooms                                 71             6/30/99
    6      1998/99                           134    Rooms                                 66             6/30/99
    7      1997                              120    Rooms                                 62             6/30/99
    8      1997/98                           126    Rooms                                 77             6/30/99
    9      1998/99                           130    Rooms                                 65             6/30/99
    10     1998                              108    Rooms                                 73             6/30/99
    11     NAP                               124    Rooms                                 73             6/30/99
    12     1998/99                           111    Rooms                                 68             6/30/99
    13     NAP                               123    Rooms                                 79             6/30/99
    14     1992 & 1999                       128    Rooms                                 87             6/30/99
    15     1995-1996                         120    Rooms                                 79             6/30/99
    16     1998-1999                          96    Rooms                                 81             6/30/99
    17     1998                              168    Rooms                                 81             6/30/99
    18     1997-1998                         125    Rooms                                 76             6/30/99
    19     1998                              208    Rooms                                 66             6/30/99
    1      1991/1992                      277536    Sq Ft             153.67              91             5/17/99
    1                                     213575    Sq Ft             157.61              99             4/30/99
    1      1991                           213609    Sq Ft             135.61             100             3/31/99
    1      NAP                            301765    Sq Ft              94.44              97             5/31/99
    1      Various                          2316    Units           11633.77
    2      1995                             1677    Units                                 85             3/16/99
    3      NAP                               345    Units                                 93             3/16/99
    4      1995                              198    Units                                 97             3/16/99
    5      NAP                                96    Units                                 97             3/17/99
    1      NAP                            269650    Sq Ft              96.42              95             7/31/99
    1      Various                           660    Units           37735.55
    2                                        264    Units                                 95             4/22/99
    3      NAP                               264    Units                                 99             4/22/99
    4      NAP                               132    Units                                 96             4/22/99
    1      1985                           193639    Sq Ft             118.78              97              7/1/99
    1      NAP                            180683    Sq Ft             116.23              98             6/22/99
    1                                        576    Units           35036.72              94              4/1/99
    1      Various                           384    Units           46775.91
    2      NAP                                98    Units                                 92             4/19/99
    3      1989                              164    Units                                 95             4/21/99
    4      NAP                               122    Units                                100             4/19/99
    1      Various                        739526    Sq Ft              23.56
    2      1995-1996                      302700    Sq Ft                                100             3/17/99
    3      NAP                            185000    Sq Ft                                100             6/10/99
    4      NAP                             89826    Sq Ft                                100             6/10/99
    5      NAP                             90000    Sq Ft                                100             6/10/99
    6      NAP                             72000    Sq Ft                                100             6/10/99
    1      1997                              181    Rooms           88182.39              71            12/31/98
    1      NAP                            177229    Sq Ft              86.05              97              7/6/99
    1      1999                              614    Units           24437.31              97             3/31/99
    1      NAP                            899697    Sq Ft              16.12             100              5/7/99
    1      NAP                            120225    Sq Ft             116.45             100             6/10/99
    1      NAP                               278    Units           48920.86              94              5/3/99
    1      1994/1995                      243370    Sq Ft              53.95             100              7/5/99
    1      Various                        251862    Sq Ft              49.37
    2      NAP                            134057    Sq Ft                                 89             2/22/99
    3      NAP                            117805    Sq Ft                                 86             2/22/99
    1      1998-1999                         625    Units           19600.00              85             6/30/99
    1      1998                           373180    Sq Ft              31.78              89              2/1/99
    1      NAP                               179    Rooms           62569.83              77             6/30/99
    1      1997-1998                      151946    Sq Ft              71.81              90             6/18/99
    1      NAP                            127082    Sq Ft              85.57             100             5/10/99
    1      1996                           189800    Sq Ft              54.00              93             6/18/99
    1      1990                           240330    Sq Ft              42.08              90            12/31/98
    1      1995/1996                         203    Rooms           49261.08              73             6/15/99
    1      1994                              448    Units           21083.90              88             5/25/99
    1      1984                           106817    Sq Ft              88.12              91             5/31/99
    1      1997/1998                      104684    Sq Ft              88.84              99              4/1/99
    1      Various                           368    Units           25101.03
    2      NAP                               216    Units                                 96             4/27/99
    3      NAP                               152    Units                                 95             4/27/99
    1      NAP                             77583    Sq Ft             114.07             100              6/9/99
    1      1997                            89415    Sq Ft              98.28              80             5/24/99
    1      NAP                               108    Rooms           75000.00              81             6/18/99
    1                                      55563    Sq Ft             140.23              96             7/13/99
    1      NAP                             90223    Sq Ft              83.13              98             4/16/99
    1      1990                            84162    Sq Ft              88.38              94             3/31/99
    1      NAP                             62042    Sq Ft             119.68              98              6/9/99
    1      1998/1999 (ongoing)             62589    Sq Ft             118.08              91              4/1/99
    1      1993 & 1996                     56132    Sq Ft             131.66             100              3/1/99
    1      1998-1999                         286    Units           25686.28              96             4/21/99
    1      1987                            92474    Sq Ft              76.89              99             3/31/99
    1      NAP                            106200    Sq Ft              65.91             100             5/25/99
    1      N                                 176    Units           39734.94              96              6/2/99
    1      In Progress                    744800    Sq Ft               9.37             100             1/25/99
    1      1993-1997                      126158    Sq Ft              52.32              97             6/18/99
    1      1998                            68113    Sq Ft              96.71              93             3/30/99
    1      NAP                             85410    Sq Ft              76.98              99             6/17/99
    1                                      63461    Sq Ft              99.51              97             3/31/99
    1      NAP                               128    Rooms           47656.25              74             6/15/99
    1      NAP                             53928    Sq Ft             113.11             100             7/16/99
    1      NAP                                96    Rooms           63417.07              84            12/31/98
    1      1998                               66    Units           91389.64             100             5/10/99
    1      NAP                            115145    Sq Ft              52.11              94             7/22/99
    1      NAP                            124095    Sq Ft              47.87              96             4/10/99
    1      1997/1998                         224    Units           25892.86              95             6/30/99
    1      Various                           170    Units           33662.92
    2                                         20    Units                                100             2/16/99
    3                                         20    Units                                100             2/16/99
    4                                         20    Units                                100             2/16/99
    5                                         20    Units                                100             2/16/99
    6                                         90    Units                                100             2/16/99
    1      UAV                                40    Units          142500.00             100              7/1/99
    1      1997                           150476    Sq Ft              37.22              85             7/22/99
    1      1997-1999                         289    Units           17993.08              71             5/13/99
    1      NAP                            185504    Sq Ft              26.94             100             4/30/99
    1      NAP                            118006    Sq Ft              42.30              97             6/10/99
    1      NAP                               200    Units           24946.56              91              4/1/99
    1      1992                           127488    Sq Ft              38.96              88             7/21/99
    1      1989                           305148    Sq Ft              16.14              78             6/30/99
    1      NAP                               320    Units           15373.33              93            12/31/98
    1      NAP                               152    Units           32219.93              91             4/30/99
    1      NAP                             81821    Sq Ft              58.95             100             4/15/99
    1      NAP                             66625    Sq Ft              72.02              96             5/12/99
    1      1997-1998                      183270    Sq Ft              26.17              99              4/9/99
    1      Various                           259    Units           18061.34
    2                                         47    Units                                 96             3/30/99
    3                                         54    Units                                 87             3/30/99
    4                                         14    Units                                 79             3/30/99
    5                                         96    Units                                 84             3/30/99
    7                                         48    Units                                100             3/30/99
    1      1999                              395    Units           11378.72              96             5/17/99
    1      1998                               13    Units          341538.46             100             5/12/99
    1      UAV                            171042    Sq Ft              25.44             100              3/1/99
    1      NAP                             53821    Sq Ft              79.61             100             3/29/99
    1      NAP                             62036    Sq Ft              68.35             100             5/17/99
    1      1992                              192    Units           21140.63              98              4/1/99
    1      NAP                             52425    Sq Ft              77.08             100              6/1/99
    1      1995                            27514    Sq Ft             146.69             100             5/31/99
    1      1998                              228    Units           17366.34             100             4/20/99
    1      NAP                            263500    Sq Ft              14.80             100             6/30/99
    1      1989                           163090    Sq Ft              23.25              93             4/30/99
    1      UAV                               132    Units           28333.33              92              6/2/99
    1      NAP                             40834    Sq Ft              87.44              95             3/31/99
    1      1994                            76372    Sq Ft              45.83              75              7/1/99
    1      1997-1998                         144    Units           24191.54              94             6/25/99
    1      1998                           110848    Sq Ft              30.84             100              5/1/99
    1      1996                            80891    Sq Ft              41.71              92             4/22/99
    1      1997                           105695    Sq Ft              31.77              99             4/20/99
    1                                        160    Units           20909.96              93             5/26/99
    1      1998                            55162    Sq Ft              59.68              98             3/18/99
    1      1998                              120    Units           27208.52              91             4/27/99
    1      NAP                             51117    Sq Ft              63.65              95             5/20/99
    1      1997                           107664    Sq Ft              30.12              90             4/30/99
    1      NAP                             26775    Sq Ft             120.49             100             4/21/99
    1      1998                              110    Units           29054.64              99             3/31/99
    1                                     139971    Sq Ft              22.48             100              5/1/99
    1                                      21523    Sq Ft             146.17              96              5/3/99
    1      NAP                             24444    Sq Ft             128.05             100             7/22/99
    1      NAP                             30838    Sq Ft             100.53             100              4/1/99
    1      NAP                             87285    Sq Ft              34.37             100             6/14/99
    1                                      44923    Sq Ft              61.60              92             4/30/99
    1      NAP                               120    Units           22887.17              98             4/27/99
    1      1994                            25711    Sq Ft             103.26             100             7/12/99
    1      1998                              100    Units           25964.94              98             3/31/99
    1      1994                              164    Units           15589.97              99             5/13/99
    1      NAP                             35720    Sq Ft              69.62             100             5/18/99
    1      NAP                             30947    Sq Ft              79.45              98              3/1/99
    1      NAP                               107    Pads            22162.27              87              5/1/99
    1      1997/1998                          64    Units           35240.00             100              4/9/99
    1      NAP                             37484    Sq Ft              58.42             100             7/31/99
    1      1998                               83    Units           25047.39             100             3/11/99
    1      1986/ongoing                      100    Units           20788.04             100              4/1/99
    1      NAP                                59    Units           34698.91              98             3/31/99
    1      NAP                             46562    Sq Ft              43.49              96             5/31/99
    1                                      29352    Sq Ft              68.03              97              3/1/99
    1      1986                              184    Pads            10802.02              96              5/7/99
    1      1998                               58    Units           33793.10              98             7/31/99
    1      Various                         45092    Sq Ft              43.01
    2      1985                            20000    Sq Ft                                100              1/1/99
    3                                      25092    Sq Ft                                 96             4/21/99
    1      1998-1999                         126    Rooms           15225.27              66             6/30/99
    1      1987                            90000    Sq Ft              20.51              89              4/6/99
    1      NAP                             11000    Sq Ft             163.64             100              6/1/99
    1      NAP                               110    Units           16332.97              99             3/22/99
    1      1991                            18122    Sq Ft              95.88              85             3/31/99
    1      NAP                                72    Units           23194.44             100             6/24/99
    1      1995                            20700    Sq Ft              79.67             100              4/1/99
    1      NAP                             64125    Sq Ft              25.28             100              5/3/99
    1      NAP                             12608    Sq Ft             115.37             100              3/1/99
    1                                      20108    Sq Ft              71.53              91             5/13/99
    1      NAP                             27650    Sq Ft              51.89             100             3/23/99
    1      1995                            30312    Sq Ft              45.01             100             3/31/99
    1      1998-1999                         100    Units           13250.00             100              7/1/99
    1                                      40400    Sq Ft              30.88             100              5/3/99
    1                                      31222    Sq Ft              39.82             100             5/13/99
    1      1998                               44    Units           28071.61              88             4/29/99
    1      NAP                              9742    Sq Ft             119.84             100             4/20/99
    1                                         36    Units           30278.05              94             3/24/99
    1      NAP                             15000    Sq Ft              70.00             100              6/1/99
    1      1996-98                            28    Units           31056.09             100              5/1/99
    1      1997                               41    Units           19498.19              93             5/10/99
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                                                                          LARGEST
                                                                  ANNUAL                                       LARGEST    TENANT
PROPERTY         OWNERSHIP           LOCKBOX          REQUIRED   REQUIRED                LARGEST               TENANT      LEASE
 NUMBER          INTEREST            ANNUAL           RESERVES    TI/LC                  TENANT                 SQ FT   EXPIRATION
 ------          --------            ------           --------    -----                  ------                 -----   ----------
<S>        <C>                        <C>              <C>        <C>      <C>                                  <C>       <C>
    1      Fee Simple                 Soft                   0         0   Macy's                               152500    1/31/13
    1      Fee Simple                 Hard               79980    740892   Linens N' Things                      27175    9/30/05
    1      Fee Simple and Leasehold   Hard             2121487         0   NAP
    2      Fee Simple                 NAP                                  NAP                                       0
    3      Fee Simple                 NAP                                  NAP                                       0
    4      Fee Simple                 NAP                                  NAP                                       0
    5      Fee Simple                 NAP                                  NAP                                       0
    6      Fee Simple                 NAP                                  NAP                                       0
    7      Fee Simple                 NAP                                  NAP                                       0
    8      Fee Simple                 NAP                                  NAP                                       0
    9      Fee Simple                 NAP                                  NAP                                       0
    10     Fee Simple                 NAP                                  NAP                                       0
    11     Leasehold                  NAP                                  NAP                                       0
    12     Fee Simple                 NAP                                  NAP                                       0
    13     Fee Simple                 NAP                                  NAP                                       0
    14     Fee Simple                 NAP                                  NAP                                       0
    15     Fee Simple                 NAP                                  NAP                                       0
    16     Leasehold                  NAP                                  NAP                                       0
    17     Fee Simple                 NAP                                  NAP                                       0
    18     Fee Simple                 NAP                                  NAP                                       0
    19     Fee Simple                 NAP                                  NAP                                       0
    1      Fee Simple                 Hard               27754    274205   AMC Theaters                          47883   11/19/06
    1      Fee Simple                 Hard               43942    350571   Comerica Bank                         43213    1/31/03
    1      Fee Simple                 Hard               10750     10500   Anthem INC                           185409   12/31/18
    1      Fee Simple                 Not Applicable     60282    120000   US Life                               85615   12/31/06
    1      Fee Simple                 Not Applicable    696300         0   NAP
    2      NAP                        NAP                                  NAP                                       0
    3      NAP                        NAP                                  NAP                                       0
    4      NAP                        NAP                                  NAP                                       0
    5      NAP                        NAP                                  NAP                                       0
    1      Fee Simple                 Soft               43144    364848   NLAC Regional Center                  30161    4/30/06
    1      Fee Simple                 Soft             4448763         0   NAP
    2      NAP                        NAP                                  NAP                                       0
    3      NAP                        NAP                                  NAP                                       0
    4      NAP                        NAP                                  NAP                                       0
    1      Fee Simple                 Not Applicable     29436     50004   Gersch Agency                          8094    6/30/02
    1      Fee Simple                 Not Applicable     22242         0   HomePlace                             53000    5/31/12
    1      Fee Simple                 Springing         144000         0   NAP                                       0
    1      Fee Simple                 Hard              106824         0   NAP
    2      NAP                        NAP                                  NAP                                       0
    3      NAP                        NAP                                  NAP                                       0
    4      NAP                        NAP                                  NAP                                       0
    1      Fee Simple                 Not Applicable         0         0   NAP
    2      NAP                        NAP                                  Sweet Paper Distribution             302700    5/31/20
    3      NAP                        NAP                                  Sweet Paper Co.                      185000    5/31/20
    4      NAP                        NAP                                  Sweet Paper Sales Corp.               89826    5/31/20
    5      NAP                        NAP                                  Sweet Paper Sales Corporation         90000    5/31/20
    6      NAP                        NAP                                  Sweet Paper Sales Corporation         72000    5/31/20
    1      Fee Simple                 Not Applicable    378579         0   NAP                                       0
    1      Leasehold                  Not Applicable     19672         0   Tom Thumb                             63280    8/15/18
    1      Fee Simple                 Springing         153504         0   NAP                                       0
    1      Fee Simple                 Soft               92628         0   TBC Corporation                      586942   11/30/09
    1      Fee Simple                 Springing          13224         0   Air Touch Cellular                   105225   12/31/06
    1      Fee Simple                 Soft               67560         0   NAP                                       0
    1      Fee Simple                 Hard                   0         0   InteSys Technologies, Inc.           243370     2/1/19
    1      Fee Simple                 Hard               40250         0   NAP
    2      NAP                        NAP                                  Drug Systems, Inc (AMS)               13953   11/30/01
    3      NAP                        NAP                                  Apria Healthcare                      59085   10/31/01
    1      Fee Simple                 Not Applicable    162504         0   NAP                                       0
    1      Fee Simple                 Springing              0         0   County of Los Angeles                 57096     4/9/99
    1      Fee Simple                 Hard                   0         0   NAP                                       0
    1      Fee Simple                 Not Applicable     22788     75960   Handyman Hardware                     12000    6/30/13
    1      Fee Simple                 Not Applicable         0         0   The Hartford                          69097    1/31/09
    1      Fee Simple                 Not Applicable     30368     50000   Albertson's                           53820    8/31/06
    1      Fee Simple                 Soft               40872    232800   LA Unified School District            43529    9/30/03
    1      Leasehold                  Hard              429872         0   NAP                                       0
    1      Fee Simple                 Not Applicable    156800         0   NAP                                       0
    1      Fee Simple                 Springing          21360    133431   Kaiser                                55849    8/31/01
    1      Leasehold                  Not Applicable     12562     62496   99 Ranch Market                       34624     4/1/08
    1      Fee Simple                 Not Applicable     98080         0   NAP
    2      NAP                        NAP                                  NAP                                       0
    3      NAP                        NAP                                  NAP                                       0
    1      Fee Simple                 Not Applicable     11637     77000   St. Luke's/Unity Health               31084    4/30/04
    1      Fee Simple                 Springing          13412     60000   Assured Access                        50666    5/31/05
    1      Fee Simple                 Springing         133003         0   NAP                                       0
    1      Fee Simple                 Not Applicable      8340     32000   Blockbuster Video                      6540    6/30/99
    1      Fee Simple                 Springing          18948    143750   Inchcape                              67246    9/30/01
    1      Fee Simple                 Not Applicable     18516     22200   Weltman, Weinberg & Associates        37082    4/30/00
    1      Fee Simple                 Not Applicable      9306     62535   Memorial Service Life Insur.          28663    6/30/02
    1      Leasehold                  Soft               16273    104173   Antwerp Sales Int'l                    3184    6/30/00
    1      Fee Simple                 Not Applicable      6174         0   Houlihan Lokey & Howard, LLP          36498    9/21/05
    1      Fee Simple                 Not Applicable     57200         0   NAP                                       0
    1      Fee Simple                 Springing          13811     69048   Internal Revenue Service              58359    3/23/07
    1      Fee Simple                 Soft               15930     50000   Preferred Freezer Services           106200    6/30/19
    1      Fee Simple                 Not Applicable     34144         0   NAP                                       0
    1      Fee Simple                 Not Applicable     22344         0   ODW Logistics                        744800    3/31/11
    1      Fee Simple                 Hard               21554         0   K-Mart Corporation                    86479   11/30/13
    1      Fee Simple                 Not Applicable      6816    200004   Vartec                                 5550    6/30/02
    1      Fee Simple                 Not Applicable         0         0   Winn-Dixie Texas, Inc.                61834     2/4/18
    1      Fee Simple                 Springing          17163     24000   Kern County Mental Health (Off        23187    6/30/04
    1      Fee Simple                 Hard               30000         0   NAP                                       0
    1      Leasehold                  Not Applicable     10856         0   Safeway, Inc.                         41650   10/31/12
    1      Fee Simple                 Springing              0         0   NAP                                       0
    1      Fee Simple                 Not Applicable         0         0   NAP                                       0
    1      Fee Simple                 Not Applicable     17272    100000   Barrios Technology, Inc.              11551    3/31/05
    1      Fee Simple                 Not Applicable     12410     15396   Nevada Assoc. of Handicapped          13200    5/31/03
    1      Fee Simple                 Not Applicable     50400         0   NAP                                       0
    1      Fee Simple                 Not Applicable     48105         0   NAP
    2      NAP                        NAP                                  NAP                                       0
    3      NAP                        NAP                                  NAP                                       0
    4      NAP                        NAP                                  NAP                                       0
    5      NAP                        NAP                                  NAP                                       0
    6      NAP                        NAP                                  NAP                                       0
    1      Fee Simple                 Not Applicable     12000         0   NAP                                       0
    1      Fee Simple                 Not Applicable     19018         0   Minyard Food Stores                   70674    9/30/17
    1      Fee Simple                 Not Applicable     72250         0   NAP                                       0
    1      Fee Simple                 Hard               18552         0   Sears Roebuck & Company              185504    1/14/09
    1      Fee Simple                 Not Applicable     23604         0   Regulus West LLC                      15592    2/28/02
    1      Fee Simple                 Not Applicable     47800         0   NAP                                       0
    1      Fee Simple                 Springing          18564         0   Meredith, Cohen                        6732   12/31/99
    1      Fee Simple                 Not Applicable     65769     48750   Denim & Diamonds                      30000   12/31/03
    1      Fee Simple                 Not Applicable     57600         0   NAP                                       0
    1      Fee Simple                 Not Applicable     39520         0   NAP                                       0
    1      Fee Simple                 Not Applicable     12274     36000   Long Island Savings                   12318    5/31/01
    1      Fee Simple                 Not Applicable      6663      5004   Office Depot                          30138    6/23/11
    1      Fee Simple                 Soft               31156     28980   Acme Supermarket                      70850   10/31/17
    1      Fee Simple                 Not Applicable     96946         0   NAP
    2      NAP                        NAP                                  NAP                                       0
    3      NAP                        NAP                                  NAP                                       0
    4      NAP                        NAP                                  NAP                                       0
    5      NAP                        NAP                                  NAP                                       0
    7      NAP                        NAP                                  NAP                                       0
    1      Fee                        Not Applicable     87295         0   NAP                                       0
    1      Leasehold                  Not Applicable      3600         0   NAP                                       0
    1      Fee Simple                 Not Applicable     44471     56250   Summit Auto Sales                     91577    4/30/02
    1      Fee Simple                 Not Applicable     10764      3000   Thrifty Payless (Rite Aid)            17880    5/31/09
    1      Fee Simple                 Not Applicable     27300     53988   San Gabriel/Pomona Valley             45000    2/28/09
    1      Fee Simple                 Not Applicable     57600         0   NAP                                       0
    1      Fee Simple                 Not Applicable      8388     44400   Comps.com, Inc.                       41015    1/31/04
    1      Fee Simple                 Not Applicable      4127      5100   R. A. B. Motors                       16894    6/30/20
    1      Fee Simple                 Springing          60256         0   NAP                                       0
    1      Fee Simple                 Hard               26352         0   APCOA/Standard Parking, Inc.         263500    5/31/11
    1      Fee Simple                 Springing          48927         0   Rose's                                52551    2/28/01
    1      Fee Simple                 Not Applicable     33000         0   NAP                                       0
    1      Fee Simple                 Not Applicable     10617         0   McAmis Occupational Clinic            10981    2/28/05
    1      Fee Simple                 Not Applicable     11456         0   Radio One                             21546   12/31/11
    1      Fee Simple                 Not Applicable     30240         0   NAP                                       0
    1      Fee Simple                 Not Applicable     16632     33000   Michael's Crafts                      30120    2/28/09
    1      Fee Simple                 Not Applicable     18605     50040   Weiner's                              25200   10/31/01
    1      Fee Simple                 Springing          10822     37848   GJ's Super Value                      32789    1/31/01
    1      Fee Simple                 Not Applicable     39504         0   NAP                                       0
    1      Fee Simple                 Not Applicable     11022     33899   Childrens Hospital Thrift Shop         8800     7/9/03
    1      Fee Simple                 Springing          17165         0   NAP                                       0
    1      Fee Simple                 Not Applicable      7668     29344   Outback Steakhouse                     7060     9/1/05
    1      Fee Simple                 Not Applicable     16150         0   NAP                                       0
    1      Fee Simple                 Not Applicable      8172     12000   Bizu (Lombardi's)                      5370   12/31/08
    1      Fee Simple                 Not Applicable     27500         0   NAP                                       0
    1      Fee Simple                 Not Applicable     28721     36000   MICLA - I                             21700    2/28/03
    1      Fee Simple                 Not Applicable      4305     32004   Huntington Reproductive Center         3337    4/30/04
    1      Leasehold                  Hard                3672     20004   Capital Title Group, Inc.             24444   12/31/12
    1      Fee Simple                 Not Applicable       437     20000   Malmquist, Fields, O'Flaherty          9051    9/30/03
    1      Fee Simple                 Hard                   0     40000   Scott Company of California           87285     8/1/19
    1      Fee Simple                 Hard                7527     12000   Opti-Fashion                          33590   12/31/10
    1      Fee Simple                 Springing          27000         0   NAP                                       0
    1      Fee Simple                 Not Applicable      3857         0   Oliver Russell                         9034   12/31/13
    1      Fee Simple                 Not Applicable     25446         0   NAP                                       0
    1      Fee Simple                 Not Applicable     41000         0   NAP                                       0
    1      Fee Simple                 Not Applicable      5358      3081   Food Lion                             29000    1/26/19
    1      Fee Simple                 Not Applicable      6840     38388   Maryland National Mortgage            11780    8/31/03
    1      Fee Simple                 Not Applicable      4812         0   NAP                                       0
    1      Fee Simple                 Not Applicable         0         0   NAP                                       0
    1      Fee Simple                 Not Applicable      3756         0   Orion Financial                        7425    7/31/03
    1      Fee Simple                 Not Applicable     19505         0   NAP                                       0
    1      Fee Simple                 Not Applicable     26200         0   NAP                                       0
    1      Fee Simple                 Not Applicable         0         0   NAP                                       0
    1      Fee Simple                 Not Applicable      1125         0   Women's Total Fitness                 10013     5/1/05
    1      Fee Simple                 Not Applicable      5870      7400   Places in the Heart                    7412    5/30/04
    1      Fee Simple                 Springing          74304         0   NAP                                       0
    1      Fee Simple                 Not Applicable     14964         0   NAP                                       0
    1      Fee Simple                 Springing           6764     24000   NAP
    2      NAP                        NAP                                  Tri State News                         5600    6/14/01
    3      NAP                        NAP                                  Pictura, Inc.                         24092    4/30/02
    1      Fee Simple                 Hard               88372         0   NAP                                       0
    1      Fee Simple                 Springing          11250     36000   Randall Leather Mach. Corp.           18750    6/30/00
    1      Fee Simple                 Not Applicable      1650     11112   Men's Wearhouse                        5500    3/31/09
    1      Fee Simple                 Not Applicable         0         0   NAP                                       0
    1      Leasehold                  Springing           3615     20784   Holualoa Management Corporatio         1933    4/30/01
    1      Fee Simple                 Not Applicable     23112         0   NAP                                       0
    1      Fee Simple                 Not Applicable      1656     32000   D. Seprazadeh/A. Khalioun              9200    3/31/01
    1      Fee Simple                 Not Applicable      9619     18000   Copyright Printing                    40500   12/31/01
    1      Fee Simple                 Hard                   0         0   CVS                                   12608    3/31/16
    1      Fee Simple                 Springing              0         0   Norwest Mortgage                       3248    1/31/02
    1      Leasehold                  Not Applicable      4473     40488   E3 Group                               8675   12/31/00
    1      Fee Simple                 Springing           4671         0   Safelite Glass Corporation            10400    1/31/02
    1      Fee Simple                 Not Applicable     27500         0   NAP                                       0
    1      Fee Simple                 Not Applicable      8088     10200   Bentley's Display                     10000    3/31/01
    1      Fee Simple                 Not Applicable      8424      6480   Everready Thermometer                 20000   12/31/04
    1      Fee Simple                 Springing           9918         0   NAP                                       0
    1      Fee Simple                 Not Applicable       974      8400   Wahid Wafa & Rahmat Adel               2700    7/31/01
    1      Fee Simple                 Hard               10800         0   NAP                                       0
    1      Fee Simple                 Soft                2250      8799   Cato's                                 4200     5/1/03
    1      Fee Simple                 Not Applicable         0         0   NAP                                       0
    1      Fee Simple                 Not Applicable     12300         0   NAP                                       0
</TABLE>



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