-----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, Q1OR3WWmTlPQl2t4c0xet8mQBgI3zlfgRIW+3vuisCrf+Mn6l6IqsNoBmnHjJU9a Ovam/XQDkbmE4fq93XQ4YA== 0000809940-96-000002.txt : 19960329 0000809940-96-000002.hdr.sgml : 19960329 ACCESSION NUMBER: 0000809940-96-000002 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 19951229 FILED AS OF DATE: 19960328 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORTGAGE INVESTORS INC CENTRAL INDEX KEY: 0000809940 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 133416059 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-01704 FILM NUMBER: 96540273 BUSINESS ADDRESS: STREET 1: WORLD FINANCIAL CENTER STREET 2: N TOWER 250 VESEY ST 15TH FL CITY: NEW YORK STATE: NY ZIP: 10281-1315 BUSINESS PHONE: 2124490336 MAIL ADDRESS: STREET 1: WORLD FINANCIAL CENTER STREET 2: 250 VESSEY STREET 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10281-1317 10-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 29, 1995 ------------------ [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _________ Commission File Numbers: 33-11558, 33-16027, 33-20634, 33-24556, 33-31848, 33-34915, 33-47672, 33-51166, 33-57682, 33-60340, 33-61112, 33-70254, 33-74332, 33-77958 ----------------------------- MERRILL LYNCH MORTGAGE INVESTORS, INC. ----------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 13-3416059 - -------------------------------- ------------------- (State or other jurisdiction (IRS Employer of incorporation or organization Identification No.) World Financial Center North Tower 250 Vesey Street - 10 th Flr New York, New York 10281-1310 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code:(212) 449-0336 Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: [x] Yes [ ] No. Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definite proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [Not Applicable] None of the Registrant's outstanding common stock is owned by non- affiliates. This report on Form 10-K is filed pursuant to the letters dated July 9, 1987, May 14, 1993, and July 31, 1994 to the Registrant from the Office of Chief Counsel, Division of Corporate Finance, Securities and Exchange Commission and in accordance with certain pending no-action letter requests. TABLE OF CONTENTS PART I Item 1. Business Item 2. Properties Item 3. Legal Proceedings Item 4. Submission of Matters to a Vote of Security Holders PART II Item 5. Market for Registrant's Common Stock and Related Stockholder Matters Item 6. Selected Financial Data Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations Item 8. Financial Statements and Supplementary Data Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure PART III Item 10. Directors and Executive Officers of the Registrant Item 11. Executive Compensation Item 12. Security Ownership of Certain Beneficial Owners and Management Item 13. Certain Relationships and Related Transactions PART IV Item 14 Exhibits, Financial Statement Schedules, and Reports on Form 8-K Signatures PART I ITEM 1. BUSINESS Not Applicable. ITEM 2. PROPERTIES Residential Mortgage Pass-Through Certificates: The series of residential mortgage pass-through certificates (as hereinafter defined in Item 5(b)), do not own any physical property. Title to real estate will only be acquired upon default of the mortgagors under the mortgage loans. Commercial Mortgage Pass-Through Certificates: For Mortgage Pass-Through Certificates, Series 1994- M1, information regarding the mortgaged properties securing the mortgage loans is set forth in the Prospectus Supplement. Title to real estate will only be acquired upon default of the mortgagors under the mortgage loans. ITEM 3. LEGAL PROCEEDINGS There are no material pending legal proceedings that involve any Series of Certificates, the Trustee, the Master Servicer or the Registrant with respect to any Series of Certificates nor is the Registrant aware of any proceedings known to be contemplated by governmental authorities. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS There have been no matters submitted to a vote of certificate holders. PART II ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY AND RELATED STOCKHOLDER MATTERS (a) There is no established public trading market for the Certificates representing interests in conventional mortgage loan or manufactured housing contract pools established by the Registrant. (b) At December 29, 1995, the number of holders of record of each outstanding series of certificates ("Series of certificates"), for which a Form 15 has not been filed, were as follows:
Number of Record Holders -------------- Residential Mortgage Pass-Through Certificates ---------------------------------------------- Manufactured Housing Contract Pass-Through Certificates, Series 1993A 15 PrimeFirst Adjustable Rate Mortgage Pass-Through Certificates, Series 1993B 20 PrimeFirst Adjustable Rate Mortgage Pass-Through Certificates, Series 1993C 12 Mortgage Pass-Through Certificates, Series 1993D 8 Mortgage Pass-Through Certificates, Series 1993E 16 Mortgage Pass-Through Certificates, Series 1993F 18 Manufactured Housing Contract Pass-Through Certificates, Series 1993G 34 Mortgage Pass-Through Certificates, Series 1993H 5 Mortgage Pass-Through Certificates, Series 1993I 29 Mortgage Pass-Through Certificates, Series 1994A 19 Mortgage Pass-Through Certificates, Series 1994B 2 Mortgage Pass-Through Certificates, Series 1994C 6 Mortgage Pass-Through Certificates, Series 1994D 4 Mortgage Pass-Through Certificates, Series 1994E 26 Mortgage Pass-Through Certificates, Series 1994F 19 Mortgage Pass-Through Certificates, Series 1994G 27 Mortgage Pass-Through Certificates, Series 1994H 26 Mortgage Pass-Through Certificates, Series 1994I 10 Commercial Pass-Through Certificates ------------------------------------------- Mortgage Pass-Through Certificates, Series 1994-C1 19 Mortgage Pass-Through Certificates, Series 1994-M1 21 Mortgage Pass-Through Certificates, Series 1995-C1 22 Mortgage Pass-Through Certificates, Series 1995-C2 99 Mortgage Pass-Through Certificates, Series 1995-C3 59
(c) Not Applicable. ITEM 6. SELECTED FINANCIAL DATA Not Applicable. ITEM 7. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Not Applicable ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Not Applicable ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE None PART III ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT Not Applicable ITEM 11. EXECUTIVE COMPENSATION Not Applicable ITEM 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT (for each Series for which a form 15 has not been filed)
Original Face Amount of % of Certificates Certificates ------------- ------------ Name and Address of Holder ($ million) MANUFACTURED HOUSING CONTRACT PASS-THROUGH CERTIFICATES, SERIES 1993A (ALL C/O DTC) ------------------------------------------ Bank of New York 8 10% Bankers Trust Company 5 6% Chemical Bank 8 10% Citibank 7 9% First Union National Bank 5 5% Fleet Bank 7 9% SSB Custodian 33 40% Chase Manhattan Bank & Trust Co 5 6% PRIMEFIRST ADJUSTABLE RATE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993B (All c/o DTC) ------------------------------------------------ Chemical Bank 28 10% First National Bank of Boston 17 6% Morgan Guaranty Trust Co. 154 55% Original Face Amount of % of Certificates Certificates ------------- ------------ PRIMEFIRST ADJUSTABLE RATE MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993C (All c/o DTC) ------------------------------------------------ First Trust National Association 17 6% Chemical Bank 20 8% First National Bank of Boston 18 7% Morgan Guaranty Trust Co. 107 40% Bank of New York 48 18% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993D (All c/o DTC) ------------------------------------------------ Chemical Bank 18 8% Bankers Trust Company 142 61% Deutsche Morgan Grenfell/ CJ Lawrence Inc. 64 28% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993E (All c/o DTC) ------------------------------------------------ Boston Safe Deposit & Trust Co. 10 5% Chemical Bank 25 13% Citibank 16 8% Morgan Guaranty Trust Co. 29 15% SSB Custodian 10 5% Bank of New York 56 29% Bankers Trust Company 15 7% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993F (All c/o DTC) ------------------------------------------------ First Trust National Association 19 7% Bankers Trust Company 49 19% Boston Safe Deposits & Trust Co. 76 28% Chemical Bank 40 15% First National Bank of Boston 14 5% Merrill Lynch Safekeeping 32 12% Original Face Amount of % of Certificates Certificates ------------ ------------ MANUFACTURED HOUSING CONTRACT PASS-THROUGH CERTIFICATES, SERIES 1993G (All c/o DTC) ------------------------------------------ Bankers Trust Company 10 6% Bank of New York 21 13% Chemical Bank 16 10% First National Bank of Boston 1 9% SSB Custodian 15 10% SSB Bank Portfolio Capital Markets 31 19% Mellon Bank, N.A. 15 9% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993H (All c/o DTC) ------------------------------------------------ Bankers Trust Company 17 9% Chemical Bank 114 60% Bank of New York 60 32% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993I (All c/o DTC) ------------------------------------------------ Morgan Guaranty Trust Co. 15 7% Chemical Bank 18 8% Harris Trust & Savings Bank 22 10% First National Bank of Boston 15 7% Merrill Lynch Safekeeping 12 6% Chase Manhattan Bank & Trust Co. 20 9% Yasuda Bank & Trust Co. (USA) 18 9% Bank of New York 15 7% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994A (All c/o DTC) ------------------------------------------------- Boston Safe Deposit & Trust Co. 120 36% Chemical Bank 42 13% Merrill Lynch - Debt Securities 31 9% Bankers Trust Company 76 22% First National Bank of Boston 20 6% Bank of New York 20 7% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994B (All c/o DTC) ------------------------------------------------ Bankers Trust Company 104 51% Bank of New York 100 49% Original Face Amount of % of Certificates Certificates ------------- ------------ MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994C (All c/o DTC) ------------------------------------------------ Bankers Trust Company 87 36% Harris Trust & Savings Bank 36 15% Morgan Guaranty Trust Co. 112 47% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994D (All c/o DTC) ------------------------------------------------ Harris Trust & Savings Bank 50 22% Bankers Trust Company 112 48% Chemical Bank 64 28% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994E (All c/o DTC) ------------------------------------------------ Bankers Trust Company 40 32% Chemical Bank 28 22% Merrill Lynch Safekeeping 10 8% Boston Safe Deposit & Trust Co. 6 5% Bank of New York 12 10% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994F (All c/o DTC) ------------------------------------------------ Bank of New York 47 14% Bankers Trust Company 145 42% Boston Safe Deposit & Trust Co. 18 5% Chemical Bank 27 8% Harris Trust & Savings Bank 28 8% Original Face Amount of % of Certificates Certificates ------------- ------ ----- MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994G (All c/o DTC) ------------------------------------------------ Bankers Trust Company 24 15% First National Bank of Boston 27 17% Harris Trust & Savings Bank 29 18% SSB Custodian 15 9% First Fidelity Bank, N.A. N.J. 27 17% Norwest Bank Minnesota Nat'l Assoc 14 9% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994H (All c/o DTC) ------------------------------------------------ Bankers Trust Company 112 46% Merrill Lynch Safekeeping 20 8% Chemical Bank 43 18% Firstar Trust Company 18 7% Merrill Lynch - Debt Securities 15 6% MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994I (All c/o DTC) ------------------------------------------------ Goldman Sachs Trust Company 7 7% Bankers Trust Company 60 55% Goldman Sachs & Co. 10 9% SSB Custodian 21 19% COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994C-1 (All c/o DTC) ----------------------------------------------------- Bankers Trust Company 48 13% Chemical Bank 31 8% First National Bank of Boston 20 5% Morgan Guaranty Trust Co. 30 8% Firstar Trust Company 202 53% COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994M-1 (All c/o DTC) ----------------------------------------------------- Bankers Trust Company 85 33% Boston Safe Deposit & Trust Co. 25 10% Morgan Guaranty Trust Co. 24 9% Bank of New York 37 14% Investor Fiduciary Trust Comp/SSB 30 12% Original Face Amount of % of Certificates Certificates ------------- ------------ COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-C1 (All c/o DTC) ---------------------------------------------------- Bank of New York 157 45% Chase Manhattan Bank, N.A. 31 9% Chemical Bank 25 7% SSB Custodian 45 13% Merrill Lynch Safekeeping 21 6% COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-C2 (All c/o DTC) ---------------------------------------------------- Bankers Trust Company 124 7% Bank of New York 531 29% SSB Custodian 97 5% Bank of New York 481 27% Boston Safe Deposit & Trust Co. 167 9% COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-C3 (All c/o DTC) ---------------------------------------------------- Chase Manhattan Bank, N.A. 82 7% SSB Custodian 95 7% Deutsche Morgan Grenfell/ CJ Lawrence Inc. 553 50%
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS (a) Not Applicable PART IV ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K (a) Commercial Pass-Through Certificates - Annual Statements of Compliance: Reports of each Series of Certificates, for which a Form 15 has not been filed, prepared by the Master Servicers' independent public accountants, will be filed with the Current Reports on Form 8-K in the earliest month possible. (b) Reports on Form 8-K related to the Series of Certificates were filed on November 21, 1995, November 29, 1995, December 1, 1995, December 14, 1995, and January 25, 1996. (c) Not Applicable (d) Not Applicable SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MERRILL LYNCH MORTGAGE INVESTORS, INC. By: /s/ Richard M. Fuscone Name: Richard M. Fuscone Title: President and Chairman of the Board Dated: March 27, 1996 Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. By: /s/ John C. Qua Name John C. Qua Title: Treasurer and Director Dated: March 27, 1996 By: /s/ Michael M. McGovern Name: Michael M. McGovern Title: Secretary and Director Dated: March 27, 1996 EXHIBIT INDEX EXHIBIT 27 FINANCIAL DATA SCHEDULE EXHIBIT 99.1 SERVICER'S CERTIFICATION EXHIBIT 99.2 SERVICER'S CERTIFICATION EXHIBIT 99.3 SERVICER'S CERTIFICATION EXHIBIT 99.3 SERVICER'S CERTIFICATION EXHIBIT 99.4 SERVICER'S CERTIFICATION EXHIBIT 99.5 SERVICER'S CERTIFICATION EX-27 2
BD 0000809940 MERRILL LYNCH MORTGAGE INVESTORS,INC. YEAR DEC-29-1995 DEC-29-1995 10000 15088528 0 0 0 0 15098528 0 0 0 0 0 0 0 0 10000 15088528 15098528 0 0 0 0 0 0 0 0 0 0 0 0 0 0
EX-99.1 3 SERVICER'S CERTIFICATION FLEET Real Estate Capital March 19, 1996 Mr. Edward J. Welch Vice President Merrill Lynch Mortgage CapitaL Inc. World Financial Center, North Tower 250 Vessey Street New York, NY 10281 Dear Edward: Pursuant to Section 3.13 of the Interim Servicing Agreement among Merrill Lynch Mortgage Capital, Inc. (Owner) and Fleet Real Estate CapitaL Inc. (the Servicer), Fleet Real Estate Capital, Inc. certifies to Merrill Lynch Mortgage Capital, Inc. that: (a) a review of the activities of Fleet Real Estate Capital during the preceding ralendar year and of its performance under the Agreement has been made under my super-Vision, and (b) to the best of my knowledge, based on such review, Fleet Real Estate Capital has fulfilled all of its obligations under the Agreement throughout such year. Sincerely, Sharon M. Fuller Sharon M. Fuller Senior Vice President cc: Jo Tarbox Fleet Reai Estate Capital, Inc. Mail Stop: MA BO R11F, 245 Summer Street, Boston, MA 02209-9173 617-573-5OO8 /Fax 617-573-2380 EX-99.2 4 SERVICER'S CERTIFICATION AMRESCO March 14, 1996 Mr. Dan Pace Merrill Lynch Mortgage Investors, Inc. World Financial Center, North Tower 250 Vesey Street, 17th Floor New York, NY 10281-1317 Mr. A. Hinton State Street Bank and Trust Company Corporate Trust Department 225 Franklin Street Boston, MA 02110 RE: Officer's Certification - MLMI 1994 M-1 Dear Mr. Pace and Mr. Hinton: In accordance with the terms of the Pooling and Servicing Agreement, dated as of April 1, 1994, with Merrill Lynch Mortgage Investors, Inc., as Depositor, among others, the undersigned, as Vice President of AMRESCO Management, Inc., formerly known as BEI Management, Inc. (the "Company"), hereby certified that (i) a review of the activities of the Company during the preceding calendar year and performance under the Agreement has been made under my supervision, and (ii) to the best of my knowledge based on such review, the Company has fulfilled all of its obligations under the Agreement in all material respects for the year ended December 31, 1995. Sincerely, AMRESCO Management, Inc. Laurence W. Nixon Laurence W. Nixon Vice President LN/cc AMRESC0, INC . 1845 Woodall Rodgers Freeway, Suite 1400 - Dallas, Texas 75201 214-953-7700 EX-99.3 5 SERVICER' CERTIFICATION MELLON MORTGAGE COMPANY Mortgage Banking Group Mellon Mortgage Company 1422 Euclid Avenue, Suite 900 Cleveland, OH 44115-2092 (216) 696-5432 March 19, 1996 Mr. Dan Pace Merrill Lynch Mortgage Investors, Inc. World Financial Center - North Tower 250 Vesey Street - 17th Floor New York, New York 10281-1317 RE: Officer's Certification - MLMI 1994 M-1 Dear Mr. Pace: In accordance with the terms of the servicing agreements with Merrill Lynch Mortgage Investors, Inc., the undersigned, as Vice President of Mellon Mortgage Company, (the "Company"), hereby certifies that (i) a review of the activities of the Company during the preceding calendar year and performance under these agreements has been made under my supervision, and (ii) to the best of my knowledge based on such review, the Company has fulfilled all of its obligations under the agreements for the year ended December 31, 1995. Further, to the best of my knowledge, there has not been a default by the Company in the performance of its duties. Sincerely, Mellon Mortgage Company Thomas R. McGuire Thomas R. McGuire Vice President TRW/rja certify.mer EX-99.4 6 SERVICER'S CERTIFICATION MELLON MORTGAGE COMPANY Mortgage Banking Group Mellon Mortgage Company 1422 Euclid Avenue, Suite 900 Cleveland, OH 44115-2092 (216) 696-5432 March 19, 1996 Mr. Dan Pace Merrill Lynch Mortgage Investors, Inc. World Financial Center - North Tower 250 Vesey Street - 17th Floor New York, New York 10281-1317 RE: Officer's Certification - MNLMI 1995 C-1 Dear Mr. Pace: In accordance with the terms of the servicing agreements with Merrill Lynch Mortgage Investors, Inc., the undersigned, as Vice President of Mellon Mortgage Company, (the "Company"), hereby certifies that (i) a review of the activities of the Company during the preceding calendar year and performance under these agreements has been made under my supervision, and (ii) to the best of my knowledge based on such review, the Company has fulfilled all of its obligations under the agreements for the year ended December 31, 1995. Further, to the best of my knowledge, there has not been a default by the Company in the performance of its duties. Sincerely, Mellon Mortgage Company Thomas R. McGuire Thomas R. McGuire Vice President TRM/rja certifyC.mer EX-99.5 7 SERVICER' CERTIFICATION MELLON MORTGAGE COMPANY Mortgage Banking Group Mellon Mortgage Company 1422 Euclid Avenue, Suite 900 Cleveland, OH 44115-2092 (216) 696-5432 March 19, 1996 Mr. Dan Pace Merrill Lynch Mortgage Investors, Inc. World Financial Center - North Tower 250 Vesey Street - 17th Floor New York, New York 10281-1317 RE: Officer's Certification - MNLMI 1995 C-2 Dear Mr. Pace: In accordance with the terms of the servicing agreements with Merrill Lynch Mortgage Investors, Inc., the undersigned, as Vice President of Mellon Mortgage Company, (the "Company"), hereby certifies that (i) a review of the activities of the Company during the preceding calendar year and performance under these agreements has been made under my supervision, and (ii) to the best of my knowledge based on such review, the Company has fulfilled all of its obligations under the agreements for the year ended December 31, 1995. Further, to the best of my knowledge, there has not been a default by the Company in the performance of its duties. Sincerely, Mellon Mortgage Company Thomas R. McGuire Thomas R. McGuire Vice President TRM/rja certifyC.mer -----END PRIVACY-ENHANCED MESSAGE-----