-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NkfIgrzByRcJo98kC4a/32Y3dewSV0JDYxhMTW4r9aaseMpjf+TFdkY1C0GboS2v TI8Vp6VjmV3DZfdEvUYIxA== 0001056404-04-001947.txt : 20040618 0001056404-04-001947.hdr.sgml : 20040618 20040618145852 ACCESSION NUMBER: 0001056404-04-001947 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040618 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST UNION COMM MORT TRUST COMM MOR PAS THR CER SER 1999-C4 CENTRAL INDEX KEY: 0001137103 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 522154872 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-48943-03 FILM NUMBER: 04870680 BUSINESS ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 BUSINESS PHONE: 4108842220 MAIL ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 8-K 1 fun99c04.txt JUNE 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: June 17, 2004 (Date of earliest event reported) Commission File No.: 333-48943-03 First Union National Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 1999-C4 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 52-7056303 52-2211953 52-2211954 52-2211955 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) (410) 884-2000 Registrant's Full Telephone Number (Former name, former address and former fiscal year, if changed since last report) ITEM 5. Other Events On June 17, 2004, a distribution was made to holders of First Union National Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 1999-C4. ITEM 7. Financial Statements and Exhibits (c) Exhibits Item 601(a) of Regulation S-K Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 1999-C4, relating to the June 17, 2004 distribution. 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. First Union National Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 1999-C4 By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: June 17, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 1999-C4, relating to the June 17, 2004 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 First Union National Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 1999-C4 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: June 17, 2004 Record Date: May 28, 2004 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 10 Mortgage Loan Detail 11 - 15 Principal Prepayment Detail 16 Historical Detail 17 Delinquency Loan Detail 18 Specially Serviced Loan Detail 19 - 22 Modified Loan Detail 23 Liquidated Loan Detail 24 Underwriter First Union Capital Markets One First Union Center 301 South College Street Charlotte, NC 28288 Contact: Craig M. Lieberman Phone Number: (704) 383-7407 Master Servicer First Union National Bank Charlotte Plaza, Floor 23 NC-1075 201 South College Street Charlotte, NC 28288 Contact: Timothy S. Ryan Phone Number: (704) 593-7878 Special Servicer Allied Capital Corporation 1919 Pennsylvania Ave, N.W. Washington, DC 20006-3434 Contact: Demetrios Morakis Phone Number: (202) 331-1112 Ext 2438 This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2004, Wells Fargo Bank, N.A.
Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Interest Rate Balance Balance Distribution Distribution A-1 337378AA1 7.184000% 206,000,000.00 142,280,356.01 1,081,527.17 851,785.06 A-2 337378AB9 7.390000% 447,232,000.00 447,232,000.00 0.00 2,754,203.73 B 337378AD5 7.617000% 46,501,000.00 46,501,000.00 0.00 295,165.10 C 337378AE3 7.793000% 42,072,000.00 42,072,000.00 0.00 273,222.58 D 337378AF0 7.936000% 13,286,000.00 13,286,000.00 0.00 87,864.75 E 337378AG8 8.182480% 28,787,000.00 28,787,000.00 0.00 196,290.89 F 337378AH6 8.182480% 13,286,000.00 13,286,000.00 0.00 90,593.70 G 337378AJ2 6.500000% 33,215,000.00 33,215,000.00 0.00 179,914.58 H 337378AK9 6.500000% 11,072,000.00 11,072,000.00 0.00 59,973.33 J 337378AL7 6.500000% 2,214,000.00 2,214,000.00 0.00 11,992.50 K 337378AM5 6.500000% 6,643,000.00 6,643,000.00 0.00 35,982.92 L 337378AN3 6.500000% 8,858,000.00 8,858,000.00 0.00 47,980.83 M 337378AP8 6.500000% 8,857,000.00 8,857,000.00 0.00 135,010.61 N 337378AQ6 6.500000% 17,715,326.00 16,449,698.23 0.00 0.00 R-I N/A 0.000000% 0.00 0.00 0.00 0.00 R-II N/A 0.000000% 0.00 0.00 0.00 0.00 R-III N/A 0.000000% 0.00 0.00 0.00 0.00 Totals 885,738,326.00 820,753,054.24 1,081,527.17 5,019,980.58
Class CUSIP Prepayment Realized Loss/ Total Ending Current Penalties Additional Trust Distribution Balance Subordination Fund Expenses Level (1) A-1 337378AA1 0.00 0.00 1,933,312.23 141,198,828.84 28.21% A-2 337378AB9 0.00 0.00 2,754,203.73 447,232,000.00 28.21% B 337378AD5 0.00 0.00 295,165.10 46,501,000.00 22.54% C 337378AE3 0.00 0.00 273,222.58 42,072,000.00 17.41% D 337378AF0 0.00 0.00 87,864.75 13,286,000.00 15.78% E 337378AG8 0.00 0.00 196,290.89 28,787,000.00 12.27% F 337378AH6 0.00 0.00 90,593.70 13,286,000.00 10.65% G 337378AJ2 0.00 0.00 179,914.58 33,215,000.00 6.60% H 337378AK9 0.00 0.00 59,973.33 11,072,000.00 5.25% J 337378AL7 0.00 0.00 11,992.50 2,214,000.00 4.98% K 337378AM5 0.00 0.00 35,982.92 6,643,000.00 4.17% L 337378AN3 0.00 0.00 47,980.83 8,858,000.00 3.09% M 337378AP8 0.00 0.00 135,010.61 8,857,000.00 2.01% N 337378AQ6 0.00 0.00 0.00 16,449,698.23 0.00% R-I N/A 0.00 0.00 0.00 0.00 0.00% R-II N/A 0.00 0.00 0.00 0.00 0.00% R-III N/A 0.00 0.00 0.00 0.00 0.00% Totals 0.00 0.00 6,101,507.75 819,671,527.07
Class CUSIP Pass-Through Original Beginning Interest Rate Notional Notional Distribution Amount Amount IO 337378AC7 0.839885% 885,738,326.00 820,753,054.24 574,448.62
Class CUSIP Prepayment Total Ending Penalties Distribution Notional Amount IO 337378AC7 0.00 574,448.62 819,671,527.07 (1) Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and dividing the result by (A).
Certificate Factor Detail Class CUSIP Beginning Principal Interest Prepayment Realized Loss/ Ending Balance Distribution Distribution Penalties Additional Balance Trust Fund Expenses A-1 337378AA1 690.68133985 5.25013189 4.13487893 0.00000000 0.00000000 685.43120796 A-2 337378AB9 1,000.00000000 0.00000000 6.15833333 0.00000000 0.00000000 1,000.00000000 B 337378AD5 1,000.00000000 0.00000000 6.34750005 0.00000000 0.00000000 1,000.00000000 C 337378AE3 1,000.00000000 0.00000000 6.49416667 0.00000000 0.00000000 1,000.00000000 D 337378AF0 1,000.00000000 0.00000000 6.61333358 0.00000000 0.00000000 1,000.00000000 E 337378AG8 1,000.00000000 0.00000000 6.81873380 0.00000000 0.00000000 1,000.00000000 F 337378AH6 1,000.00000000 0.00000000 6.81873401 0.00000000 0.00000000 1,000.00000000 G 337378AJ2 1,000.00000000 0.00000000 5.41666657 0.00000000 0.00000000 1,000.00000000 H 337378AK9 1,000.00000000 0.00000000 5.41666637 0.00000000 0.00000000 1,000.00000000 J 337378AL7 1,000.00000000 0.00000000 5.41666667 0.00000000 0.00000000 1,000.00000000 K 337378AM5 1,000.00000000 0.00000000 5.41666717 0.00000000 0.00000000 1,000.00000000 L 337378AN3 1,000.00000000 0.00000000 5.41666629 0.00000000 0.00000000 1,000.00000000 M 337378AP8 1,000.00000000 0.00000000 15.24337925 0.00000000 0.00000000 1,000.00000000 N 337378AQ6 928.55746657 0.00000000 0.00000000 0.00000000 0.00000000 928.55746657 R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
Class CUSIP Beginning Interest Prepayment Ending Notional Distribution Penalties Notional Amount Amount IO 337378AC7 926.63152327 0.64855342 0.00000000 925.41047735
Reconciliation Detail Advance Summary P & I Advances Outstanding 2,287,298.11 Servicing Advances Outstanding 825,152.57 Reimbursement for Interest on Advances 0.00 paid from general collections Reimbursement for Interest on Servicing 0.00 Advances paid from general collections Aggregate amount of Nonrecoverable Advances 0.00
Servicing Fee Breakdowns Current Period Accrued Servicing Fees 37,431.95 Less Delinquent Servicing Fees 1,585.72 Less Reductions to Servicing Fees 0.00 Plus Servicing Fees for Delinquent Payments Received 552.87 Plus Adjustments for Prior Servicing Calculation 0.00 Total Servicing Fees Collected 36,399.10
Certificate Interest Reconciliation Class Accrued Net Aggregate Distributable Distributable Additional Interest Remaining Unpaid Certificate Prepayment Certificate Certificate Trust Fund Distribution Distributable Interest Interest Interest Interest Expenses Certificate Shortfall Adjustment Interest A-1 851,785.06 0.00 851,785.06 0.00 0.00 851,785.06 0.00 A-2 2,754,203.73 0.00 2,754,203.73 0.00 0.00 2,754,203.73 0.00 IO 574,448.62 0.00 574,448.62 0.00 0.00 574,448.62 0.00 B 295,165.10 0.00 295,165.10 0.00 0.00 295,165.10 0.00 C 273,222.58 0.00 273,222.58 0.00 0.00 273,222.58 0.00 D 87,864.75 0.00 87,864.75 0.00 0.00 87,864.75 0.00 E 196,290.89 0.00 196,290.89 0.00 0.00 196,290.89 0.00 F 90,593.70 0.00 90,593.70 0.00 0.00 90,593.70 0.00 G 179,914.58 0.00 179,914.58 0.00 0.00 179,914.58 0.00 H 59,973.33 0.00 59,973.33 0.00 0.00 59,973.33 0.00 J 11,992.50 0.00 11,992.50 0.00 0.00 11,992.50 0.00 K 35,982.92 0.00 35,982.92 0.00 0.00 35,982.92 0.00 L 47,980.83 0.00 47,980.83 0.00 0.00 47,980.83 0.00 M 47,975.42 0.00 47,975.42 87,035.19 0.00 135,010.61 3,145.36 N 89,102.53 0.00 89,102.53 0.00 89,102.53 0.00 1,446,516.23 Total 5,596,496.54 0.00 5,596,496.54 87,035.19 89,102.53 5,594,429.20 1,449,661.59
Other Required Information Available Distribution Amount (1) 6,675,956.37 Aggregate Number of Outstanding Loans 153 Aggregate Unpaid Principal Balance of Loans 819,969,609.72 Aggregate Stated Principal Balance of Loans 819,671,527.07 Aggregate Amount of Servicing Fee 36,399.10 Aggregate Amount of Special Servicing Fee 7,745.28 Aggregate Amount of Trustee Fee 1,573.11 Aggregate Trust Fund Expenses 20.00 Interest Reserve Deposit 0.00 Interest Reserve Withdrawal 0.00 Specially Serviced Loans not Delinquent Number of Outstanding Loans 3 Aggregate Unpaid Principal Balance 9,521,560.80 (1) The Available Distribution Amount includes any Prepayment Premiums.
Original Subordination Level Class A-1 26.2500% Class G 6.2501% Class A-2 26.2500% Class H 5.0000% Class B 21.0000% Class J 4.7501% Class C 16.2501% Class K 4.0001% Class D 14.7501% Class L 3.0000% Class E 11.5000% Class M 2.0001% Class F 10.0001% Class N 0.0000%
Appraisal Reduction Amount Loan Appraisal Cumulative Current Date Appraisal Number Reduction ASER ASER Reduction Effected Amount Amount Effected 265330695 1,191,774.47 17,119.05 8,723.12 05/11/2004 365000028 5,334,608.90 935,796.81 41,030.12 05/11/2004 510000102 2,107,584.28 112,216.63 13,276.04 05/11/2004 Total 8,633,967.65 1,065,132.49 63,029.28
Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 5,635,501.54 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 5,635,501.54 Principal: Scheduled Principal 1,081,527.17 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected 1,081,527.17 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 Equity Payments Received 0.00 Net Swap Counterparty Payments Received 0.00 Total Other Collected: 0.00 Total Funds Collected 6,717,028.71 Total Funds Distributed Fees: Master Servicing Fee 37,431.95 Trustee Fee 1,573.11 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 39,005.06 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount (5,697.94) Special Servicing Fee 7,745.28 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 20.00 Total Additional Trust Fund Expenses 2,067.34 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 5,594,429.20 Principal Distribution 1,081,527.17 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 6,675,956.37 Total Funds Distributed 6,717,028.77
Ratings Detail Class CUSIP Original Ratings Current Ratings (1) Fitch Moody's S & P Fitch Moody's S & P A-1 337378AA1 AAA X AAA AAA X AAA A-2 337378AB9 AAA X AAA AAA X AAA IO 337378AC7 AAA X AAA AAA X AAA B 337378AD5 AA X AA AAA X AA+ C 337378AE3 A X A AA- X A+ D 337378AF0 A- X A- A+ X A- E 337378AG8 BBB X BBB BBB+ X BBB F 337378AH6 BBB- X BBB- BBB- X BBB- G 337378AJ2 BB+ X BB+ BB+ X BB+ H 337378AK9 BB X NR BB X NR J 337378AL7 BB- X NR BB- X NR K 337378AM5 B+ X NR B+ X NR L 337378AN3 B X NR B X NR M 337378AP8 B- X NR CCC X NR N 337378AQ6 NR X NR NR X NR NR - Designates that the class was not rated by the above agency at the time of original issuance. X - Designates that the above rating agency did not rate any classes in this transaction at the time of original issuance. N/A - Data not available this period. 1) For any class not rated at the time of original issuance by any particular rating agency, no request has been made subsequent to issuance to obtain rating information, if any, from such rating agency. The current ratings were obtained directly from the applicable rating agency within 30 days of the payment date listed above. The ratings may have changed since they were obtained. Because the ratings may have changed, you may want to obtain current ratings directly from the rating agencies. Fitch, Inc. One State Street Plaza New York, New York 10004 (212) 908-0500 Moody's Investors Service 99 Church Street New York, New York 10007 (212) 553-0300 Standard & Poor's Rating Services 55 Water Street New York, New York 10041 (212) 438-2430
Current Mortgage Loan and Property Stratification Tables Scheduled Balance Scheduled # of Scheduled % of WAM WAC Weighted Balance Loans Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP Below 2,000,000 49 65,813,604.45 8.03 65 8.4909 1.303121 2,000,001 to 4,000,000 40 111,174,579.53 13.56 72 8.2056 1.528311 4,000,001 to 6,000,000 16 79,273,010.68 9.67 73 8.0276 1.171579 6,000,001 to 8,000,000 10 67,047,194.97 8.18 66 8.0620 1.255398 8,000,001 to 10,000,000 6 54,294,309.59 6.62 66 7.7695 1.225925 10,000,001 to 15,000,000 17 197,962,946.78 24.15 56 7.9099 1.264957 15,000,001 to 20,000,000 4 70,180,252.41 8.56 68 8.0075 1.179413 20,000,001 to 25,000,000 2 43,058,636.75 5.25 63 7.9904 1.260857 25,000,001 to 30,000,000 1 26,933,007.36 3.29 65 8.0000 1.100000 30,000,001 and greater 1 50,000,000.00 6.10 64 7.1400 2.630000 Totals 153 819,671,527.07 100.00 61 7.9989 1.351027
State (3) State # of Scheduled % of WAM WAC Weighted Props Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP Alaska 1 1,172,183.62 0.14 63 8.5000 1.160000 Arizona 3 8,353,082.45 1.02 133 7.3923 1.600000 California 27 102,609,922.56 12.52 70 8.0978 1.308491 Colorado 2 15,384,354.43 1.88 65 8.1831 1.133526 Connecticut 3 9,809,996.67 1.20 64 8.3228 1.238716 Delaware 2 14,717,679.97 1.80 64 8.1854 1.279492 Florida 19 108,253,915.27 13.21 61 8.1414 1.384900 Georgia 12 70,470,528.85 8.60 66 8.0255 1.146019 Illinois 2 14,236,462.46 1.74 82 7.5547 1.220000 Indiana 2 18,437,229.00 2.25 50 7.7794 1.214017 Kentucky 2 1,517,267.52 0.19 64 8.7558 1.233248 Louisiana 2 3,042,298.29 0.37 64 8.7144 1.487276 Maine 1 2,151,245.17 0.26 63 8.5000 1.530000 Maryland 2 4,271,930.10 0.52 63 8.4727 1.287266 Michigan 1 9,440,549.49 1.15 84 7.5700 1.410000 Minnesota 1 1,929,379.74 0.24 65 8.3200 1.570000 Mississippi 4 8,460,796.05 1.03 65 8.8000 1.029407 Nevada 5 50,073,551.73 6.11 62 8.0651 1.152985 New Jersey 7 40,276,215.46 4.91 81 8.3231 1.166542 New York 2 3,884,841.37 0.47 62 8.3081 1.366937 North Carolina 3 9,262,401.97 1.13 78 8.3037 1.906385 Ohio 6 41,726,332.79 5.09 75 7.5986 1.183986 Oregon 3 3,783,350.12 0.46 64 8.3437 1.061361 Pennsylvania 10 45,469,060.54 5.55 52 7.3353 1.466106 South Carolina 2 15,091,614.71 1.84 65 7.9810 1.138886 Texas 9 25,093,007.90 3.06 64 8.2904 1.217097 Vermont 1 2,281,684.93 0.28 65 9.0000 1.130000 Virginia 12 85,589,309.96 10.44 55 7.5491 2.077699 Washington 4 27,653,431.65 3.37 37 8.2700 1.196153 Washington,DC 1 2,730,904.55 0.33 64 8.0000 1.810000 West Virginia 2 4,935,102.78 0.60 93 8.3750 0.999491 Wisconsin 2 13,627,910.42 1.66 75 8.2179 1.654948 Totals 162 819,671,527.07 100.00 61 7.9989 1.351027
Debt Service Coverage Ratio (1) Debt Service # of Scheduled % of WAM WAC Weighted Coverage Ratio Loans Balance Agg. (2) Avg DSCR (1) Bal. Credit Lease 7 23,800,474.67 2.90 134 7.3807 NAP Defeased 7 53,933,984.55 6.58 8 8.1999 NAP 1.19 or less 57 349,198,834.60 42.60 67 8.0901 1.052819 1.20 to 1.24 12 60,468,816.49 7.38 67 8.0465 1.223425 1.25 to 1.29 6 29,529,641.52 3.60 38 8.1815 1.257628 1.30 to 1.34 13 72,932,722.97 8.90 67 8.1108 1.322933 1.35 to 1.39 3 19,978,790.02 2.44 65 8.2302 1.387359 1.40 to 1.44 3 25,582,744.34 3.12 45 7.6969 1.422620 1.45 to 1.49 8 32,281,167.67 3.94 54 8.0150 1.474310 1.50 to 1.54 3 5,997,866.51 0.73 64 8.5453 1.536413 1.55 to 1.59 2 4,215,625.23 0.51 64 8.2142 1.580847 1.60 to 1.69 7 16,068,404.52 1.96 53 8.0610 1.663274 1.70 and greater 25 125,682,453.98 15.33 59 7.6246 2.273780 Totals 153 819,671,527.07 100.00 61 7.9989 1.351027
Property Type (3) Property # of Scheduled % of WAM WAC Weighted Type Props Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP Credit Lease 7 23,800,474.67 2.90 134 7.3807 NAP Health Care 2 27,026,311.09 3.30 62 8.2893 1.122852 Industrial 7 20,558,581.10 2.51 65 8.4799 1.223434 Lodging 16 76,102,827.48 9.28 50 8.3101 1.342679 Mixed Use 5 6,003,610.31 0.73 52 8.5445 1.713085 Mobile Home Park 2 2,364,980.61 0.29 63 8.2500 1.470000 Multi-Family 60 334,502,781.44 40.81 65 7.7997 1.426990 Office 9 20,133,374.58 2.46 64 8.4382 1.129847 Retail 46 253,593,776.00 30.94 63 8.0591 1.347541 Self Storage 1 1,650,825.24 0.20 65 8.6500 1.260000 Totals 162 819,671,527.07 100.00 61 7.9989 1.351027
Note Rate Note Rate # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP 6.999% or less 1 11,887,035.11 1.45 35 6.2200 2.050000 7.000% to 7.249% 8 79,702,714.48 9.72 85 7.1725 2.387844 7.250% to 7.499% 3 13,900,378.41 1.70 44 7.4062 1.324958 7.500% to 7.749% 9 74,220,747.19 9.05 70 7.5526 1.222670 7.750% to 7.999% 12 117,363,978.68 14.32 59 7.9396 1.303772 8.000% to 8.249% 29 224,578,163.33 27.40 59 8.0865 1.273876 8.250% to 8.499% 40 165,952,570.77 20.25 66 8.3112 1.250985 8.500% to 8.749% 23 43,753,060.26 5.34 81 8.5565 1.260241 8.750% to 8.999% 19 30,264,291.07 3.69 62 8.7991 1.243276 9.000% and greater 2 4,114,603.22 0.50 65 9.0557 1.441827 Totals 153 819,671,527.07 100.00 61 7.9989 1.351027
Seasoning Seasoning # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP 12 months or less 0 0.00 0.00 0 0.0000 0.000000 13 to 24 months 0 0.00 0.00 0 0.0000 0.000000 25 to 36 months 0 0.00 0.00 0 0.0000 0.000000 37 to 48 months 0 0.00 0.00 0 0.0000 0.000000 49 months and greater 146 765,737,542.52 93.42 65 7.9847 1.368484 Totals 153 819,671,527.07 100.00 61 7.9989 1.351027
Anticipated Remaining Term (ARD and Balloon Loans) Anticipated # of Scheduled % of WAM WAC Weighted Remaining Term (2) Loans Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP 60 months or less 15 115,563,010.86 14.10 35 7.7706 1.366714 61 to 96 months 121 615,436,830.14 75.08 66 8.0421 1.365471 97 to 108 months 0 0.00 0.00 0 0.0000 0.000000 109 to 120 months 0 0.00 0.00 0 0.0000 0.000000 121 to 144 months 8 25,647,037.05 3.13 142 7.4320 1.088722 145 to 180 months 0 0.00 0.00 0 0.0000 0.000000 181 to 204 months 0 0.00 0.00 0 0.0000 0.000000 205 and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 151 810,580,862.60 98.89 60 7.9946 1.346641
Remaining Stated Term (Fully Amortizing Loans) Remaining Stated # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. 60 months or less 0 0.00 0.00 0 0.0000 0.000000 61 to 96 months 0 0.00 0.00 0 0.0000 0.000000 97 to 108 months 0 0.00 0.00 0 0.0000 0.000000 109 to 120 months 0 0.00 0.00 0 0.0000 0.000000 121 to 144 months 1 2,828,986.11 0.35 123 8.1250 3.060000 145 to 180 months 0 0.00 0.00 0 0.0000 0.000000 181 to 204 months 1 6,261,678.36 0.76 185 8.5000 1.130000 205 and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 2 9,090,664.47 1.11 166 8.3833 1.730610
Remaining Amortization Term (ARD and Balloon Loans) Remaining Amortization # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. Defeased 7 53,933,984.55 6.58 8 8.1999 NAP Interest Only 1 50,000,000.00 6.10 64 7.1400 2.630000 180 months or less 0 0.00 0.00 0 0.0000 0.000000 181 to 228 months 10 57,766,649.20 7.05 74 7.8330 1.338285 229 to 240 months 0 0.00 0.00 0 0.0000 0.000000 241 to 252 months 17 32,213,176.74 3.93 64 8.6129 1.279366 253 to 288 months 6 22,867,623.27 2.79 54 7.2973 1.966225 289 to 300 months 7 87,216,415.99 10.64 65 7.6914 1.180697 301 to 348 months 103 506,583,012.85 61.80 63 8.1198 1.253709 349 and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 151 810,580,862.60 98.89 60 7.9946 1.346641
Age of Most Recent NOI Age of Most # of Scheduled % of WAM WAC Weighted Recent NOI Loans Balance Agg. (2) Avg DSCR (1) Bal. Credit Lease 7 23,800,474.67 2.90 134 7.3807 NAP Defeased 7 53,933,984.55 6.58 8 8.1999 NAP 1 year or less 125 695,882,152.31 84.90 63 7.9825 1.385198 1 to 2 years 12 35,038,274.74 4.27 64 8.3775 1.102084 2 years or greater 2 11,016,640.80 1.34 64 8.1812 1.160000 Totals 153 819,671,527.07 100.00 61 7.9989 1.351027 (1) The Trustee makes no representations as to the accuracy of the data provided by the borrower for this calculation. "NAP" means not applicable and relates to the ommission of credit lease loans in the calculation of DSCR. (2) Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity date. (3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date Balance of the related mortgage loan as disclosed in the offering document.
Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type (1) City State Payment Payment Coupon 265330589 1 MF Various VA 297,500.00 0.00 7.140% 265330666 2 RT Canoga Park CA 185,674.75 19,779.33 8.000% 265330670 3 MF Miami FL 150,562.69 14,269.28 8.030% 265330537 4 MF Las Vegas NV 145,908.25 14,753.79 7.950% 465000005 5 MF Toledo OH 121,399.20 16,415.98 7.500% 265330594 6 MF Wilmington Island GA 124,204.52 13,516.89 7.990% 365000007 7 HC Jersey City NJ 120,923.85 34,383.53 8.375% 265330690 8 RT Aventura FL 117,919.42 11,431.61 8.230% 265330650 9 MF Dallas TX 105,070.25 10,412.55 8.220% 265330554 10 RT Tustin CA 95,933.91 10,524.70 7.970% 265330671 11 MF Miami FL 91,413.06 8,663.49 8.030% 465000012 12 RT Philadelphia PA 61,714.83 19,362.24 6.220% 265330536 13 MF Henderson NV 84,552.27 8,656.73 7.920% 465000014 14 RT Woodinville WA 86,874.83 8,658.13 8.180% 265330613 15 RT Dover DE 87,816.97 8,525.19 8.270% 510000102 16 RT Federal Way WA 86,720.94 9,498.60 8.390% 265330643 17 LO Newport News VA 77,294.57 18,996.34 7.885% 265330669 18 MF Orlando FL 80,658.58 7,644.26 8.030% 265330657 19 RT Virginia Beach VA 81,367.87 7,030.95 8.130% 265330588 20 RT Ashwaubenon WI 82,058.74 5,906.72 8.190% 265330631 22 LO Atlanta GA 79,139.12 7,662.22 8.250% 265330514 23 RT Bartlett IL 72,314.21 9,010.32 7.650% 265330570 24 MF Upper Providence Town PA 68,677.57 9,075.08 7.500% 510000083 25 RT Egg Harbor Township NJ 72,692.78 9,151.07 8.030% 465000027 27 MF Gahanna OH 65,917.06 8,607.14 7.590% 365000028 28 HC Denver CO 72,279.48 5,866.58 8.150% 265330629 29 RT Bloomington IN 68,218.99 5,506.33 8.050% 265330680 30 RT Las Vegas NV 68,537.23 6,589.43 8.250% 265330651 31 MF Austin TX 68,161.04 6,754.82 8.220% 465000032 32 MF Oshtemo Twp MI 61,592.11 8,105.28 7.570% 465000033 33 MF Indianapolis IN 55,377.79 7,575.88 7.470% 355330617 34 MF Jonesboro GA 52,680.95 7,725.06 7.208% 265330598 35 MF Goose Creek SC 57,120.73 6,216.31 7.990% 265330649 36 MF Lewisville TX 56,198.78 5,569.35 8.220% 265330639 37 LO Tampa FL 56,001.51 5,422.05 8.250% 265330648 39 MF Irving TX 53,847.22 5,336.31 8.220% 265330646 40 MF Irving TX 53,438.26 5,295.78 8.220% 265330642 41 LO Islamorada FL 48,969.49 10,876.56 8.235% 265330597 42 MF North Charleston SC 46,674.65 5,120.57 7.970% 265330551 43 MF Sacramento CA 46,626.66 5,089.07 8.000% 265330630 44 LO College Park GA 48,151.98 4,662.06 8.250% 510000100 45 RT Carteret NJ 45,944.37 15,350.89 8.500% 465000046 46 RT Austin TX 45,157.80 5,281.60 7.810% 465000047 47 MF Forest Park OH 43,362.38 5,662.06 7.590% 825999674 48 CL Marina CA 34,823.58 119,434.55 7.235% 265330626 49 MF Atlanta GA 43,146.35 4,639.00 8.020% 265330599 50 MF Augusta GA 41,894.43 4,596.16 7.970% 825999668 51 CL Mesa AZ 31,135.83 106,786.66 7.235% 265330575 52 RT Philadelphia PA 38,926.16 4,219.20 8.000% 265330574 53 RT Philadelphia PA 37,238.04 4,036.22 8.000% 265330675 54 IN Las Vegas NV 38,549.80 3,466.39 8.410% 265330547 55 RT Simi Valley CA 34,828.71 7,166.76 7.875% 265330632 56 LO Atlanta GA 37,507.86 3,631.50 8.250% 510000107 57 RT Pueblo CO 36,197.61 4,118.88 8.250% 265330685 58 MF St. Petersburg FL 34,521.23 3,494.63 8.125% 265330595 59 MF Savannah GA 33,520.83 3,677.49 7.970% 265330571 60 MF Middleton Township PA 30,880.20 4,080.53 7.500% 265330668 61 OF Shelton CT 33,091.65 3,138.01 8.300% 510000108 62 IN Dallas TX 32,437.30 3,724.87 8.250% 265330596 63 MF Savannah GA 31,246.10 3,427.95 7.970% 265300075 64 MF College Station TX 32,048.57 3,081.66 8.310% 265330641 65 RT Fort Bragg CA 30,962.02 2,939.93 8.280% 265330662 66 LO Livermore CA 30,914.95 4,818.75 8.740% 365000067 67 MF Orange Park FL 27,291.70 3,501.13 8.000% 265330637 68 LO Raleigh NC 27,411.70 2,653.99 8.250% 265330667 69 OF New London CT 27,097.20 2,678.38 8.200% 265330655 70 MF San Diego CA 26,724.72 2,619.82 8.220% 825999677 71 CL Arlington Heights IL 20,119.25 69,003.08 7.235% 265330693 72 MF Irving TX 28,323.69 2,200.29 8.750% 510000098 73 LO Ocala FL 26,791.97 2,710.09 8.625% 265330607 74 RT Durham NC 19,889.71 13,811.17 8.125% 265330627 75 RT Woodland Hills CA 23,478.07 2,232.50 8.320% 265330603 76 RT Portsmouth VA 22,949.56 2,132.82 8.375% 265330619 77 RT Richmond VA 22,211.26 2,077.18 8.360% 825999707 78 CL Columbus OH 16,431.50 56,355.17 7.235% 255999956 79 RT Zephyrills FL 19,688.62 1,918.88 7.250% 510000097 80 IN San Jose CA 22,939.16 2,223.92 8.750% 265330633 81 LO Jacksonville FL 21,575.92 2,088.98 8.250% 265330611 82 IN Alexandria VA 20,793.17 2,790.50 8.260% 510000099 83 IN Poway CA 21,103.41 2,227.05 8.500% 265330612 84 OF Baltimore MD 20,608.87 1,992.43 8.280% 825999685 85 CL Camarillo CA 14,984.41 51,392.10 7.235% 510000109 86 RT Jacksonville FL 20,191.03 2,156.02 8.438% 265330576 87 MF Philadelphia PA 19,460.21 1,987.84 8.120% 265330689 88 LO Pearl MS 20,349.44 3,087.74 8.800% 265330623 89 MF Washington DC 18,824.75 1,720.66 8.000% 510000052 90 CL Hickory NC 18,448.64 2,697.36 8.580% 265330625 91 MF Charleston WV 18,109.32 1,652.56 8.375% 265330587 92 RT Belleair Bluffs FL 17,241.23 1,836.65 8.000% 825999684 93 CL Youngtown AZ 13,163.87 45,148.20 7.235% 125129417 94 MF Hurricane WV 16,945.65 2,344.98 8.375% 265330555 95 MF Linden NJ 16,967.82 1,704.11 8.188% 265330577 96 MF Newark DE 15,994.53 1,915.78 7.750% 265330606 97 MH Medford OR 16,812.91 1,645.71 8.250% 265330665 98 OF Williston VT 17,702.60 2,522.03 9.000% 265330562 99 MF Charlottesville VA 16,007.32 1,649.26 8.125% 265330591 100 LO Monroe LA 16,493.16 2,502.59 8.800% 265330593 101 LO Southhaven MS 16,156.27 2,451.48 8.800% 265330582 102 MU Winter Park FL 16,150.12 1,350.15 8.625% 265330543 103 RT Kittery ME 15,759.23 1,818.84 8.500% 265330509 104 MF Whitehall PA 13,657.01 1,890.85 7.380% 265330529 105 MU Buffalo NY 14,771.33 1,456.03 8.250% 265330658 106 MF Whitehall OH 14,618.14 1,343.38 8.375% 255999618 107 MF Beloit WI 14,431.81 1,537.12 8.380% 265330688 108 LO Grenada MS 14,414.49 2,187.19 8.800% 265330691 109 RT Eagan MN 13,832.19 1,291.68 8.320% 265330660 110 MF Lakewood NJ 13,484.86 1,365.08 8.125% 510000095 111 OF Pearland TX 13,837.97 1,537.58 8.375% 265330605 112 MF Saint Paul MN 13,138.29 1,286.03 8.250% 510000101 113 IN Newark NJ 14,412.07 1,229.16 9.125% 265330681 114 RT Lynnwood WA 12,796.45 2,273.08 8.320% 510000088 115 MF New York NY 13,042.63 1,462.73 8.375% 265330687 116 MF Jackson CA 13,268.67 1,148.46 8.500% 265330592 117 LO McComb MS 13,267.64 2,013.17 8.800% 265330585 118 RT Palmdale CA 12,188.75 1,232.95 8.170% 265330679 119 SS College Station TX 12,310.94 1,957.87 8.650% 265330566 120 MF Bradenton FL 12,328.20 1,082.47 8.510% 265330686 121 MF Venice CA 12,256.72 1,060.86 8.500% 265330661 122 RT Rialto CA 12,249.64 1,060.25 8.500% 365000123 123 LO Federal Way WA 10,709.21 3,529.55 8.000% 465000124 124 MF Van Nuys CA 11,896.43 1,085.60 8.375% 265330528 125 MF Fresno CA 10,340.50 1,334.74 7.560% 265330695 126 OF Salem OR 10,394.12 1,700.39 8.500% 265330659 127 MF Columbus OH 11,316.23 986.39 8.500% 465000128 128 MF Hollywood CA 11,004.90 1,004.24 8.375% 265330601 129 RT Bermuda Dunes CA 10,285.57 955.90 8.375% 265999973 130 RT Las Vegas NV 10,451.19 900.74 8.510% 265330578 131 MF Hyattsville MD 10,579.14 798.58 8.875% 510000103 132 RT Orange CT 10,166.30 976.03 8.750% 265330579 133 RT Studio City CA 10,052.24 1,280.63 8.750% 265330572 134 MF Chester PA 8,634.10 1,140.92 7.500% 265330663 135 MF North Hollywood CA 9,397.37 863.61 8.375% 265330573 136 OF Decatur GA 9,713.57 733.25 8.875% 265330511 137 RT Morrow GA 9,200.78 1,390.05 8.875% 265330523 138 RT Houston TX 8,933.16 758.10 8.590% 265330618 139 OF Anchorage AK 8,585.27 757.03 8.500% 465000140 140 RT Phoenix AZ 8,347.87 768.76 8.370% 265330677 141 MF Ontario CA 8,438.89 727.31 8.510% 265999972 142 MU Charlottesville VA 8,584.94 658.79 8.750% 265330620 143 RT Suwanee GA 8,215.83 615.83 8.875% 265330640 144 RT Encino CA 7,743.19 691.48 8.470% 465000145 145 RT Seminole FL 7,567.10 1,188.73 8.750% 265330602 146 MF San Diego CA 6,726.53 658.42 8.250% 265330545 147 RT Margate FL 6,500.97 1,007.33 8.820% 265330646 148 MF Royersford PA 6,244.84 579.93 8.350% 265330644 149 MF Grambling LA 6,359.46 560.76 8.500% 265330664 150 MF North Hollywood CA 6,252.21 544.99 8.500% 265330609 151 RT Austin TX 6,227.67 940.87 8.875% 265330580 152 RT Louisville KY 6,070.19 446.14 8.875% 265330557 153 OF Louisville KY 5,379.57 885.67 8.625% 265330674 154 MU Fairview NJ 4,697.42 701.83 8.875% 265330654 155 MF Buena Park CA 4,334.86 370.89 8.500% 265330581 156 MF Cape Coral FL 4,127.25 345.04 8.625% Totals 5,635,501.54 1,081,527.17
Loan Anticipated Maturity Neg. Beginning Ending Paid Thru Number Repayment Date Amort Scheduled Scheduled Date Date (Y/N) Balance Balance 265330589 N/A 10/01/2009 N 50,000,000.00 50,000,000.00 06/01/2004 265330666 N/A 11/01/2009 N 26,952,786.69 26,933,007.36 06/01/2004 265330670 N/A 11/01/2009 N 21,774,221.25 21,759,951.97 06/01/2004 265330537 N/A 07/01/2009 N 21,313,438.57 21,298,684.78 06/01/2004 465000005 N/A 06/01/2009 N 18,797,295.58 18,780,879.60 06/01/2004 265330594 N/A 09/01/2011 N 18,052,253.95 18,038,737.06 06/01/2004 365000007 N/A 06/01/2009 N 16,767,485.65 16,733,102.12 06/01/2004 265330690 N/A 11/01/2009 N 16,638,965.24 16,627,533.63 06/01/2004 265330650 N/A 09/01/2004 N 14,843,924.89 14,833,512.34 06/01/2004 265330554 N/A 09/01/2009 N 13,978,308.71 13,967,784.01 06/01/2004 265330671 N/A 11/01/2009 N 13,220,063.06 13,211,399.57 06/01/2004 465000012 05/01/2007 05/01/2027 N 11,906,397.35 11,887,035.11 06/01/2004 265330536 N/A 07/01/2009 N 12,397,693.64 12,389,036.91 06/01/2004 465000014 N/A 10/01/2004 N 12,333,361.88 12,324,703.75 06/01/2004 265330613 N/A 10/01/2009 N 12,331,438.63 12,322,913.44 06/01/2004 510000102 N/A 11/01/2009 N 12,003,360.17 11,993,861.57 01/01/2004 265330643 N/A 12/01/2004 N 11,383,821.46 11,364,825.12 06/01/2004 265330669 N/A 11/01/2009 N 11,664,761.41 11,657,117.15 06/01/2004 265330657 N/A 10/01/2009 N 11,622,597.58 11,615,566.63 06/01/2004 265330588 N/A 09/01/2009 N 11,635,412.01 11,629,505.29 06/01/2004 265330631 N/A 10/01/2009 N 11,139,817.60 11,132,155.38 06/01/2004 265330514 N/A 09/01/2009 N 10,977,488.44 10,968,478.12 06/01/2004 265330570 N/A 09/01/2009 N 10,633,946.25 10,624,871.17 06/01/2004 510000083 N/A 09/01/2009 N 10,512,755.46 10,503,604.39 06/01/2004 465000027 N/A 06/01/2011 N 10,085,487.34 10,076,880.20 06/01/2004 365000028 N/A 10/01/2009 N 10,299,075.55 10,293,208.97 09/01/2001 265330629 N/A 09/01/2009 N 9,841,249.09 9,835,742.76 06/01/2004 265330680 N/A 11/01/2009 N 9,647,469.38 9,640,879.95 06/01/2004 265330651 N/A 09/01/2004 N 9,629,532.95 9,622,778.13 06/01/2004 465000032 N/A 06/01/2011 N 9,448,654.77 9,440,549.49 06/01/2004 465000033 N/A 06/01/2007 N 8,609,062.12 8,601,486.24 06/01/2004 355330617 N/A 08/01/2009 N 8,487,496.67 8,479,771.61 06/01/2004 265330598 N/A 09/01/2011 N 8,302,095.85 8,295,879.54 06/01/2004 265330649 N/A 09/01/2004 N 7,939,549.60 7,933,980.25 06/01/2004 265330639 N/A 10/01/2009 N 7,882,910.22 7,877,488.17 06/01/2004 265330648 N/A 09/01/2004 N 7,607,330.98 7,601,994.67 06/01/2004 265330646 N/A 09/01/2004 N 7,549,553.47 7,544,257.69 06/01/2004 265330642 N/A 12/01/2004 N 6,905,621.92 6,894,745.36 06/01/2004 265330597 N/A 09/01/2007 N 6,800,855.74 6,795,735.17 06/01/2004 265330551 N/A 08/01/2009 N 6,768,385.77 6,763,296.70 06/01/2004 265330630 N/A 10/01/2009 N 6,777,991.82 6,773,329.76 06/01/2004 510000100 N/A 11/01/2019 N 6,277,029.25 6,261,678.36 06/01/2004 465000046 N/A 09/01/2009 N 6,714,636.78 6,709,355.18 06/01/2004 465000047 N/A 06/01/2011 N 6,634,560.83 6,628,898.77 06/01/2004 825999674 N/A 06/01/2016 N 5,775,853.28 5,656,418.73 06/01/2004 265330626 N/A 09/01/2009 N 6,247,561.18 6,242,922.18 06/01/2004 265330599 N/A 09/01/2007 N 6,104,341.48 6,099,745.32 06/01/2004 825999668 N/A 06/01/2016 N 5,164,201.01 5,057,414.35 06/01/2004 265330575 N/A 09/01/2009 N 5,650,572.09 5,646,352.89 06/01/2004 265330574 N/A 09/01/2009 N 5,405,521.78 5,401,485.56 06/01/2004 265330675 N/A 11/01/2009 N 5,323,128.84 5,319,662.45 06/01/2004 265330547 N/A 10/01/2009 N 5,136,031.18 5,128,864.42 06/01/2004 265330632 N/A 10/01/2009 N 5,279,698.80 5,276,067.30 06/01/2004 510000107 N/A 12/01/2009 N 5,095,264.34 5,091,145.46 06/01/2004 265330685 N/A 11/01/2009 N 4,934,051.16 4,930,556.53 05/01/2004 265330595 N/A 09/01/2007 N 4,884,242.13 4,880,564.64 06/01/2004 265330571 N/A 09/01/2009 N 4,781,450.26 4,777,369.73 06/01/2004 265330668 N/A 10/01/2009 N 4,630,001.95 4,626,863.94 06/01/2004 510000108 N/A 11/01/2009 N 4,565,953.83 4,562,228.96 05/01/2004 265330596 N/A 09/01/2007 N 4,552,797.26 4,549,369.31 06/01/2004 265300075 N/A 08/01/2009 N 4,478,663.32 4,475,581.66 06/01/2004 265330641 N/A 11/01/2009 N 4,342,499.90 4,339,559.97 06/01/2004 265330662 N/A 10/01/2009 N 4,107,692.84 4,102,874.09 06/01/2004 365000067 N/A 08/01/2009 N 3,961,699.03 3,958,197.90 06/01/2004 265330637 N/A 10/01/2009 N 3,858,538.05 3,855,884.06 06/01/2004 265330667 N/A 10/01/2009 N 3,837,526.54 3,834,848.16 06/01/2004 265330655 N/A 10/01/2009 N 3,775,566.37 3,772,946.55 06/01/2004 825999677 N/A 06/01/2016 N 3,336,987.42 3,267,984.34 06/01/2004 265330693 N/A 11/01/2009 N 3,759,089.30 3,756,889.01 06/01/2004 510000098 N/A 11/01/2009 N 3,607,333.45 3,604,623.36 06/01/2004 265330607 N/A 09/01/2014 N 2,842,797.28 2,828,986.11 06/01/2004 265330627 N/A 09/01/2009 N 3,277,026.44 3,274,793.94 06/01/2004 265330603 N/A 09/01/2009 N 3,182,221.03 3,180,088.21 06/01/2004 265330619 N/A 09/01/2009 N 3,085,373.46 3,083,296.28 06/01/2004 825999707 N/A 06/01/2016 N 2,725,335.51 2,668,980.34 06/01/2004 255999956 N/A 11/01/2008 N 3,153,683.22 3,151,764.34 06/01/2004 510000097 N/A 11/01/2009 N 3,044,460.15 3,042,236.23 06/01/2004 265330633 N/A 10/01/2009 N 3,037,080.10 3,034,991.12 06/01/2004 265330611 N/A 09/01/2009 N 2,923,354.37 2,920,563.87 06/01/2004 510000099 N/A 11/01/2009 N 2,883,198.35 2,880,971.30 06/01/2004 265330612 N/A 09/01/2009 N 2,890,444.28 2,888,451.85 06/01/2004 825999685 N/A 06/01/2016 N 2,485,320.08 2,433,927.98 06/01/2004 510000109 N/A 12/01/2009 N 2,778,981.03 2,776,825.01 06/01/2004 265330576 N/A 10/01/2004 N 2,783,122.04 2,781,134.20 06/01/2004 265330689 N/A 11/01/2009 N 2,685,410.44 2,682,322.70 06/01/2004 265330623 N/A 10/01/2009 N 2,732,625.21 2,730,904.55 06/01/2004 510000052 N/A 06/01/2008 N 2,580,229.16 2,577,531.80 06/01/2004 265330625 N/A 11/01/2009 N 2,511,066.29 2,509,413.73 06/01/2004 265330587 N/A 11/01/2009 N 2,502,758.67 2,500,922.02 06/01/2004 825999684 N/A 06/01/2016 N 2,183,365.33 2,138,217.13 06/01/2004 125129417 N/A 08/01/2014 N 2,428,034.03 2,425,689.05 05/01/2004 265330555 N/A 09/01/2009 N 2,406,663.97 2,404,959.86 05/01/2004 265330577 N/A 09/01/2009 N 2,396,682.31 2,394,766.53 06/01/2004 265330606 N/A 09/01/2009 N 2,366,626.32 2,364,980.61 06/01/2004 265330665 N/A 11/01/2009 N 2,284,206.96 2,281,684.93 06/01/2004 265330562 N/A 09/01/2009 N 2,287,894.75 2,286,245.49 06/01/2004 265330591 N/A 11/01/2009 N 2,176,516.57 2,174,013.98 06/01/2004 265330593 N/A 11/01/2009 N 2,132,058.88 2,129,607.40 06/01/2004 265330582 N/A 09/01/2009 N 2,174,490.23 2,173,140.08 06/01/2004 265330543 N/A 09/01/2009 N 2,153,064.01 2,151,245.17 06/01/2004 265330509 N/A 09/01/2009 N 2,149,018.68 2,147,127.83 06/01/2004 265330529 N/A 08/01/2009 N 2,079,248.40 2,077,792.37 06/01/2004 265330658 N/A 10/01/2009 N 2,026,973.52 2,025,630.14 06/01/2004 255999618 N/A 05/01/2016 N 1,999,942.25 1,998,405.13 06/01/2004 265330688 N/A 11/01/2009 N 1,902,205.16 1,900,017.97 06/01/2004 265330691 N/A 11/01/2009 N 1,930,671.42 1,929,379.74 06/01/2004 265330660 N/A 11/01/2009 N 1,927,364.02 1,925,998.94 06/01/2004 510000095 N/A 10/01/2009 N 1,918,794.06 1,917,256.48 06/01/2004 265330605 N/A 09/01/2009 N 1,849,378.19 1,848,092.16 06/01/2004 510000101 N/A 11/01/2009 N 1,834,147.45 1,832,918.29 06/01/2004 265330681 N/A 10/01/2009 N 1,786,105.68 1,783,832.60 06/01/2004 510000088 N/A 09/01/2009 N 1,808,511.73 1,807,049.00 06/01/2004 265330687 N/A 11/01/2009 N 1,812,798.02 1,811,649.56 06/01/2004 265330592 N/A 11/01/2009 N 1,750,861.15 1,748,847.98 06/01/2004 265330585 N/A 09/01/2009 N 1,732,518.08 1,731,285.13 06/01/2004 265330679 N/A 11/01/2009 N 1,652,783.11 1,650,825.24 06/01/2004 265330566 N/A 09/01/2009 N 1,682,328.77 1,681,246.30 06/01/2004 265330686 N/A 11/01/2009 N 1,674,542.12 1,673,481.26 06/01/2004 265330661 N/A 11/01/2009 N 1,673,575.41 1,672,515.16 06/01/2004 365000123 N/A 12/01/2008 N 1,554,563.28 1,551,033.73 06/01/2004 465000124 N/A 11/01/2009 N 1,649,577.77 1,648,492.17 06/01/2004 265330528 N/A 09/01/2009 N 1,588,402.24 1,587,067.50 06/01/2004 265330695 N/A 01/01/2010 N 1,420,069.90 1,418,369.51 04/01/2003 265330659 N/A 10/01/2009 N 1,546,050.13 1,545,063.74 06/01/2004 465000128 N/A 11/01/2009 N 1,525,955.80 1,524,951.56 06/01/2004 265330601 N/A 09/01/2009 N 1,426,213.35 1,425,257.45 06/01/2004 265999973 N/A 11/01/2009 N 1,426,188.38 1,425,287.64 06/01/2004 265330578 N/A 08/01/2009 N 1,384,276.83 1,383,478.25 06/01/2004 510000103 N/A 12/01/2009 N 1,349,260.60 1,348,284.57 06/01/2004 265330579 N/A 10/01/2009 N 1,334,122.82 1,332,842.19 06/01/2004 265330572 N/A 09/01/2009 N 1,336,893.53 1,335,752.61 06/01/2004 265330663 N/A 10/01/2009 N 1,303,054.17 1,302,190.56 06/01/2004 265330573 N/A 08/01/2009 N 1,271,017.51 1,270,284.26 06/01/2004 265330511 N/A 09/01/2009 N 1,203,919.00 1,202,528.95 06/01/2004 265330523 N/A 09/01/2009 N 1,207,682.51 1,206,924.41 06/01/2004 265330618 N/A 09/01/2009 N 1,172,940.65 1,172,183.62 06/01/2004 465000140 N/A 10/01/2009 N 1,158,219.73 1,157,450.97 06/01/2004 265330677 N/A 11/01/2009 N 1,151,586.88 1,150,859.57 06/01/2004 265999972 N/A 12/01/2004 N 1,139,383.15 1,138,724.36 06/01/2004 265330620 N/A 09/01/2009 N 1,075,038.22 1,074,422.39 06/01/2004 265330640 N/A 09/01/2009 N 1,061,640.02 1,060,948.54 06/01/2004 465000145 N/A 09/01/2009 N 1,004,296.63 1,003,107.90 06/01/2004 265330602 N/A 09/01/2009 N 946,843.18 946,184.76 06/01/2004 265330545 N/A 08/01/2009 N 855,954.11 854,946.78 06/01/2004 265330646 N/A 10/01/2009 N 868,511.37 867,931.44 06/01/2004 265330644 N/A 09/01/2009 N 868,845.07 868,284.31 06/01/2004 265330664 N/A 10/01/2009 N 854,192.53 853,647.54 06/01/2004 265330609 N/A 09/01/2009 N 814,887.83 813,946.96 06/01/2004 265330580 N/A 11/01/2009 N 794,281.83 793,835.69 06/01/2004 265330557 N/A 08/01/2009 N 724,317.50 723,431.83 06/01/2004 265330674 N/A 10/01/2009 N 614,655.33 613,953.50 06/01/2004 265330654 N/A 12/01/2009 N 592,239.22 591,868.33 06/01/2004 265330581 N/A 09/01/2009 N 555,703.12 555,358.08 06/01/2004 Totals 820,753,054.24 819,671,527.07
Loan Appraisal Appraisal Res. Mod. Number Reduction Reduction Strat. Code Date Amount (2) (3) 510000102 05/11/2004 2,107,584.28 2 365000028 05/11/2004 5,334,608.90 7 465000046 1 265330686 11 265330695 05/11/2004 1,191,774.47 10 Totals 8,633,967.65 (1) Property Type Code MF - Multi-Family RT - Retail HC - Health Care IN - Industrial WH - Warehouse MH - Mobile Home Park OF - Office MU - Mixed Use LO - Lodging SS - Self Storage OT - Other IW - Industrial/Warehouse (2) Resolution Strategy Code 1 - Modification 2 - Foreclosure 3 - Bankruptcy 4 - Extension 5 - Note Sale 6 - DPO 7 - REO 8 - Resolved 9 - Pending Return to Master Servicer 10 - Deed In Lieu Of Foreclosure 11 - Full Payoff 12 - Reps and Warranties 13 - Other or TBD (3) Modification Code 1 - Maturity Date Extension 2 - Amortization Change 3 - Principal Write-Off 4 - Combination
Principal Prepayment Detail No Principal Prepayments this Period
Historical Detail Delinquencies Distribution 30-59 Days 60-89 Days 90 Days or More Date # Balance # Balance # Balance 06/17/2004 0 $0.00 0 $0.00 1 $1,418,369.51 05/17/2004 0 $0.00 0 $0.00 1 $1,420,069.90 04/16/2004 1 $0.00 0 $0.00 3 $21,259,474.10 03/17/2004 1 $11,140,508.41 0 $0.00 3 $21,276,626.16 02/18/2004 1 $11,153,887.99 0 $0.00 3 $21,303,254.85 01/16/2004 1 $11,161,863.76 0 $0.00 3 $21,320,100.85 12/17/2003 1 $10,216,694.25 2 $19,019,204.76 2 $13,487,405.05 11/18/2003 1 $11,180,298.20 1 $7,857,058.98 2 $13,501,192.06 10/20/2003 1 $7,862,960.86 0 $0.00 2 $13,511,751.73 09/17/2003 1 $1,684,671.81 0 $0.00 2 $13,525,369.38 08/15/2003 0 $0.00 0 $0.00 2 $13,535,755.29 07/17/2003 2 $21,474,599.00 1 $1,438,013.55 1 $12,108,053.01
Distribution Foreclosure REO Modifications Date # Balance # Balance # Balance 06/17/2004 1 $11,993,861.57 1 $10,293,208.97 0 $0.00 05/17/2004 1 $12,003,360.17 1 $10,299,075.55 0 $0.00 04/16/2004 0 $0.00 1 $10,307,218.42 0 $0.00 03/17/2004 0 $0.00 1 $10,312,987.36 0 $0.00 02/18/2004 0 $0.00 1 $10,323,357.71 0 $0.00 01/16/2004 0 $0.00 1 $10,329,014.17 0 $0.00 12/17/2003 0 $0.00 1 $10,334,631.21 0 $0.00 11/18/2003 0 $0.00 1 $10,342,534.23 0 $0.00 10/20/2003 0 $0.00 1 $10,348,057.05 0 $0.00 09/17/2003 0 $0.00 1 $10,355,869.50 0 $0.00 08/15/2003 0 $0.00 1 $10,361,299.39 0 $0.00 07/17/2003 0 $0.00 1 $10,366,691.43 0 $0.00
Prepayments Rate and Maturities Distribution Curtailments Payoff Next Weighted Avg. WAM Date # Amount # Amount Coupon Remit 06/17/2004 0 $0.00 0 $0.00 7.998862% 7.916866% 61 05/17/2004 0 $0.00 1 $7,813,949.12 7.998492% 7.916424% 62 04/16/2004 0 $0.00 2 $20,039,121.93 7.996312% 7.912159% 63 03/17/2004 0 $0.00 0 $0.00 8.006123% 7.916497% 64 02/18/2004 0 $0.00 0 $0.00 8.006213% 7.916579% 65 01/16/2004 0 $0.00 0 $0.00 8.006256% 7.931396% 66 12/17/2003 0 $0.00 0 $0.00 8.006298% 7.933417% 67 11/18/2003 0 $0.00 0 $0.00 8.005836% 7.932873% 68 10/20/2003 0 $0.00 0 $0.00 8.005878% 7.932920% 69 09/17/2003 0 $0.00 0 $0.00 8.005945% 7.932989% 70 08/15/2003 0 $0.00 0 $0.00 8.005986% 7.933034% 71 07/17/2003 0 $0.00 0 $0.00 8.006027% 7.932427% 72 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.
Delinquency Loan Detail Offering # of Paid Through Current Outstanding Status of Loan Number Document Months Date P & I P & I Mortgage Cross- Delinq. Advances Advances ** Loan (1) Reference 510000102 16 4 01/01/2004 82,443.36 401,055.31 7 365000028 28 32 09/01/2001 36,686.81 1,623,330.68 9 265330685 58 0 05/01/2004 37,810.28 37,810.28 B 510000108 62 0 05/01/2004 35,971.93 35,971.93 B 125129417 94 0 05/01/2004 19,189.47 19,189.47 B 265330555 95 0 05/01/2004 18,571.65 18,571.65 B 265330695 126 13 04/01/2003 3,312.22 151,368.79 3 Totals 7 233,985.72 2,287,298.11
Resolution Servicing Actual Outstanding Loan Strategy Transfer Foreclosure Principal Servicing Bankruptcy REO Number Code (2) Date Date Balance Advances Date Date 510000102 2 12/06/2002 12,048,930.55 384,857.72 02/18/2003 365000028 7 11/26/2001 05/03/2002 10,500,000.00 357,524.15 10/29/2002 265330685 4,934,051.16 0.00 510000108 4,565,953.83 0.00 125129417 2,428,034.03 0.00 265330555 2,406,663.97 0.00 265330695 10 04/24/2003 1,443,323.56 40,510.36 Totals 38,326,957.10 782,892.23
Current Outstanding Actual Outstanding P & I P & I Principal Servicing Advances Advances** Balance Advances Totals By Delinquency Code: Total for Status Code = 3 (1 loan) 3,312.22 151,368.79 1,443,323.56 40,510.36 Total for Status Code = 7 (1 loan) 82,443.36 401,055.31 12,048,930.55 384,857.72 Total for Status Code = 9 (1 loan) 36,686.81 1,623,330.68 10,500,000.00 357,524.15 Total for Status Code = B (4 loans) 111,543.33 111,543.33 14,334,702.99 0.00 (1) Status of Mortgage Loan A - Payment Not Received But Still In Grace Period B - Late Payment But Less Than 1 Month Delinquent 0 - Current 1 - One Month Delinquent 2 - Two Months Delinquent 3 - Three or More Months Delinquent 4 - Assumed Scheduled Payment (Performing Matured Balloon) 7 - Foreclosure 9 - REO (2) Resolution Strategy Code 1 - Modification 2 - Foreclosure 3 - Bankruptcy 4 - Extension 5 - Note Sale 6 - DPO 7 - REO 8 - Resolved 9 - Pending Return to Master Servicer 10 - Deed In Lieu Of Foreclosure 11 - Full Payoff 12 - Reps and Warranties 13 - Other or TBD ** Outstanding P & I Advances include the current period advance.
Specially Serviced Loan Detail - Part 1 Offering Servicing Resolution Scheduled Property Interest Actual Loan Document Transfer Strategy Balance Type (2) State Rate Balance Number Cross Date Code (1) Reference 510000102 16 12/06/2002 2 11,993,861.57 RT WA 8.390% 12,048,930.55 365000028 28 11/26/2001 7 10,293,208.97 HC CO 8.150% 10,500,000.00 465000046 46 12/19/2003 1 6,709,355.18 RT TX 7.810% 6,709,355.18 265330686 121 03/13/2003 11 1,673,481.26 MF CA 8.500% 1,673,481.26 265330695 126 04/24/2003 10 1,418,369.51 OF OR 8.500% 1,443,323.56 265999972 142 1,138,724.36 MU VA 8.750% 1,138,724.36
Net Remaining Loan Operating DSCR Note Maturity Amortization Number Income Date DSCR Date Date Term 510000102 640,964.70 06/30/2002 1.11 12/01/1999 11/01/2009 304 365000028 1,022,595.92 12/31/2000 1.16 11/01/1999 10/01/2009 303 465000046 785,396.98 12/31/2003 1.30 10/01/1999 09/01/2009 302 265330686 246,396.17 12/31/2002 1.54 12/01/1999 11/01/2009 304 265330695 40,968.82 09/30/2002 0.38 02/01/2000 01/01/2010 245 265999972 125,403.28 12/31/2003 1.13 01/01/2000 12/01/2004 305 (1) Resolution Strategy Code 1 - Modification 2 - Foreclosure 3 - Bankruptcy 4 - Extension 5 - Note Sale 6 - DPO 7 - REO 8 - Resolved 9 - Pending Return to Master Servicer 10 - Deed In Lieu Of Foreclosure 11 - Full Payoff 12 - Reps and Warranties 13 - Other or TBD (2) Property Type Code MF - Multi-Family RT - Retail HC - Health Care IN - Industrial WH - Warehouse MH - Mobile Home Park OF - Office MU - Mixed Use LO - Lodging SS - Self Storage OT - Other IW - Industrial/Warehouse
Specially Serviced Loan Detail - Part 2 Offering Document Resolution Site Other REO Loan Cross Strategy Inspection Phase 1 Appraisal Appraisal Property Number Reference Code (1) Date Date Date Value Revenue 510000102 16 2 05/04/2004 12,100,000.00 365000028 28 7 06/11/2004 7,130,000.00 465000046 46 1 06/14/1999 9,100,000.00 265330686 121 11 05/21/2003 3,200,000.00 265330695 126 10 08/26/2003 475,000.00 265999972 142 10/02/2002 1,750,000.00
Loan Number Comments from Special Servicer 510000102 On 9/19/2003 the judge granted our motion for relief from stay. Receiver has been appointed. Non-judicial foreclosure proceeding. Foreclosure scheduled 7/30/04. The property is 86% occupied is well maintained and full adequate protection payments continue . The 2003 budget projected NOI at $1.3MM resulting in a DSCR of 1:1. Tenant grocer will move into REI space when REI vacates, moving property to stabilization. Negotiating with new theater tenant. 365000028 "The Special Servicer approved a case authorizing as much as $500000 in capital expenditures and repairs to address deferred maintenance items. The SS instructed property manager Grace Management Inc. to proceed immediately with approximately $250000in fi rst floor common area improvements and approximately $100000 to replace the annunciator panel. Property is currently 71% occupied as of 1/25/04 occupied with all available cash flow being used for property improvements and capex. Allied has ordered an updated appraisal and will be getting a separate City of Denver Fire Prevention inspection in order to quantify any possibly code required upgrades that would be mandated to a new owner. Allied is continuing to work with Grace Management on increasing oc cupancy up to 80% by the end of Q2 2004. Allied and Grace have elected to take the assisted living services in-house with a target start date of 4/1/04. " 465000046 Transferred to special servicing on 12/19/03. Tenant bankruptcy has caused DSCR to fall below 1.0. Borrower to make request for relief, may be able to use funds from judgment against prior tenant to keep loan current.Shadow anchor Target may want to purch ase portion of the property. Appraisal ordered, decision pending receipt of appraisal. 265330686 Asset was transferred to SS on 3/14/03 because the borrower encumbered the property with a second trust deed and the guarantor filed a Ch 11 petition on 2/10/03. The case was subsequently converted to Chapter 7. The loan is current Trustee is marketing th e property for sale and states that the property is generating interest around the $4MM level from prospective purchasers. Counsel for SS has requested a status update from the Trustee as to the current status of any offers on the property. The loan appe ars to be fully secured by the value of the collateral as demonstrated by the 5/21/03 appraised value of $3.2 MM. Trustee sale delayed by sponsor claim that property is owned by a third party. Borrower now claiming to have new lender who will provide fina ncing to pay in full, hearing in June. 265330695 Asset transferred to SS on April 24 2003 as vacant office building. Borrower supported building for one year after Oregon Dept of Justice moved out; site now empty. Bwr reported property condemned; potential condemnation was not approved by the City. Cou nsel advises that a condemnation blight suit possible but outcome very uncertain. Site visit shows 3-story poured concrete building with 10-12 parking spaces in heart of Salem surrounded by vacancies. Oregon economy very weak. Current appraisal $475,000 a s is. Bwr keeping ground lease current. Deed-in-lieu likely by May 2004. One outstanding offer to purchase at $450M, offer raised to $750,000. 265999972 (1) Resolution Strategy Code 1 - Modification 2 - Foreclosure 3 - Bankruptcy 4 - Extension 5 - Note Sale 6 - DPO 7 - REO 8 - Resolved 9 - Pending Return to Master Servicer 10 - Deed in Lieu Of Foreclosure 11 - Full Payoff 12 - Reps and Warranties 13 - Other or TBD
Modified Loan Detail No Modified Loans
Liquidated Loan Detail Loan Final Offering Appraisal Appraisal Actual Gross Gross Proceeds Number Recovery Document Date Value Balance Proceeds as a % of Determination Cross Actual Balance Date Reference 510000106 03/22/2004 21 02/26/2003 10,400,000.00 11,161,863.76 11,140,983.99 99.813% 510000105 03/22/2004 26 09/27/1999 13,250,000.00 10,200,419.71 9,880,875.20 96.867% Current Total 0.00 0.00 0.00 Cumulative Total 23,650,000.00 21,362,283.47 21,021,859.19
Liquidated Loan Detail Loan Aggregate Net Net Proceeds Realized Repurchased Number Liquidation Liquidation as a % of Loss by Seller Expenses * Proceeds Actual Balance (Y/N) 510000106 295,953.98 10,845,030.01 97.161% 591,432.38 N 510000105 187,191.20 9,693,684.00 95.032% 681,099.78 N Current Total 0.00 0.00 0.00 Cumulative Total 483,145.18 20,538,714.01 1,272,532.16 * Aggregate liquidation expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).
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