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ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: June 1, 2000 - June 30, 2000
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SETTLEMENT DATE: 17-Jul-00
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A. SERIES INFORMATION
Advanta Leasing Receivables Corp. IV and
ADVANTA LEASING RECEIVABLES CORP. V
EQUIPMENT RECEIVABLES ASSET-BACKED NOTES,
SERIES 1998-1
I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED
(a.) Beginning Aggregate Contract Principal Balance ("ACPB") ............................................. $149,053,376.76
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(b.) Contract Principal Balance of all Collections allocable to Contracts ................ $ 8,957,063.89
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(c.) Contract Principal Balance of Charged-Off Contracts ................................. $ 1,157,900.21
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(d.) Total decline in Principal Balance ................................................................... $ 10,114,964.10
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(e.) Ending Aggregate Contract Principal Balance of all Contracts as of this
Settlement Date ...................................................................................... $138,938,412.66
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BALANCES ON THIS SETTLEMENT DATE AFTER PAYMENT ON THE RELATED PAYMENT DATE
(f.) Class A Principal Balance as of this Settlement Date ................................................. $122,710,306.58
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(Class A Note Factor) ........................ 0.3705021
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(g1.) Class A-1 Principal Balance .(Note Factor) ... 0.0000000 .......................... --
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(g2.) Class A-2 Principal Balance . (Note Factor) .. 0.2816332 .......................... $ 53,510,306.58
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(g3.) Class A-3 Principal Balance . (Note Factor) .. 1.0000000 .......................... $ 23,300,000.00
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(g4.) Class A-4 Principal Balance . (Note Factor) .. 1.0000000 .......................... $ 45,900,000.00
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(h.) Class B Principal Balance as of this Settlement Date ................................................. $ 6,703,095.44
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(Class B Note Factor) ........................ 0.3539495
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(i.) Class C Principal Balance as of this Settlement Date ................................................. $ --
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(Class C Note Factor) ........................ 0.0000000
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(l.) Class D Principal Balance as of this Settlement Date ................................................. $ 9,525,010.64
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(Class D Note Factor) ........................ 0.6349878
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II. COMPLIANCE RATIOS
(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts as of
the related Calculation Date ......................................................................... $150,012,236.68
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(b1.) % of CBR 31 days or more delinquent as of the related Calculation Date ............................... 7.50%
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(b2.) Preceeding Month %: May-00 ............................................ 8.07%
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(b3.) 2nd Preceeding Month %: Apr-00 ............................................ 8.23%
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(b4.) Three month rolling average % of CBR 31 days or more delinquent ...................................... 7.93%
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(c.) Does the three month rolling average % of CBR which are 31 days or
more delinquent exceed 10.5% ? Y or N. .............................................................. NO
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(Amortization Period Only)
(d) Cumulative Net Loss Percentage as of the related Collection Period ................................... 2.57%
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Does the Cumulative Net Loss Percentage exceed
(d1.) 4.0 % from the Beginning Period to and including 12th Collection Period ? Y or N .................... N/A
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(d2.) 5.5 % from 13th Collection Period to and including 24th Collection Period ? Y or N ................... NO
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(d3.) 7.0 % from 25th Collection Period and thereafter ? Y or N ............................................ N/A
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(If Yes to e1 or e2 or e3, then a Residual Event occurs)
(e1.) Residual Realization for the related Collection Period Greater Than 100% (YES/NO) .................... YES
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(e2.) Preceeding Month: May-00 Greater Than 100% (YES/NO) ................ YES
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(e3.) 2nd Preceeding Month: Apr-00 Greater Than 100% (YES/NO) ................ YES
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(e4.) Three month rolling average Residual Realization Ratio Greater Than 100% (YES/NO) ................... YES
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(If less than 100%, then a Residual Event Occurs)
III. FLOW OF FUNDS
The amount of available funds on deposit in the Series 1998-1 Facility Account ....................... $ 11,310,858.00
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(1) On the Payment Date which is also the Amortization Date and each Payment
Date thereafter
(a.) To the Servicer, Unrecoverable Servicer Advances ..................................................... 234,690.29
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(b.) To the Servicer, if ABS is not the Servicer, Servicing Fee and Ancillary
Servicing Income, if any .............................................................................
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To Series 1998-1 Noteholders:
(c.) To Class A, the total Class A Note Interest and Class A Overdue Interest
for the related period. . ........................................................................ $ 646,728.44
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Interest on Class A-1 Notes ....................................... $ --
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Interest on Class A-2 Notes ....................................... $ 302,852.60
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Interest on Class A-3 Notes ....................................... $ 115,140.83
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Interest on Class A-4 Notes ....................................... $ 228,735.00
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(d.) Interest on Class B Notes for the related period ..................................................... $ 38,264.22
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(e.) Interest on Class C Notes for the related period ..................................................... $ 1,931.54
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(f.) To Series 1998-1 Noteholders:
To Class A, the total Principal Payment and Class A Overdue Principal, if any ........................ 8,933,529.05
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Principal Payment to Class A-1 Noteholders ........................ N/A
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Principal Payment to Class A-2 Noteholders ........................ $ 8,933,529.05
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Principal Payment to Class A-3 Noteholders ........................ N/A
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Principal Payment to Class A-4 Noteholders ........................ N/A
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To Class B for Principal Payment and Overdue Principal, if any ....................................... 824,292.73
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To Class C for Principal Payment and Overdue Principal, if any ....................................... 357,142.32
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(g) Overdue Principal (included in the Principal Payments per above, if any):
To Class A, total for Overdue Principal ............................................. N/A
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Overdue Principal to Class A-1 N/A
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Overdue Principal to Class A-2 N/A
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Overdue Principal to Class A-3 N/A
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Overdue Principal to Class A-4 N/A
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To Class B for Overdue Principal .................................................... N/A
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To Class C for Overdue Principal .................................................... N/A
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(h1.) Until the Reserve Account Funding Date:
To the Reserve Account, the amount equal to the Servicing Fee otherwise
payable to ABS ....................................................................................... N/A
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(h2.) After the Reserve Account Funding Date:
To the Servicer, ABS, the Servicing Fee plus Ancillary Servicing Income, if any ...................... 124,211.15
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(i.) To the Reserve Account, the amount needed to increase the amount on deposit
in the Reserve Account to the Required Reserve Amount for such Payment Date .......................... N/A
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(j.) Upon the occurrence of a Residual Event the lesser of:
(j1.) (A) the Available Funds remaining on deposit in the Facility Account and ............. N/A
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(j2.) (B) the aggregate amount of Residual Receipts included in Available Funds ............ N/A
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(j3.) To be deposited to the Residual Account .............................................................. N/A
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(k.) To Class D Noteholders for Principal Payment .........................................................
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(l.) To Class D Noteholders for Overdue Principal, if any ................................................. N/A
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(3) To ABS, the Servicing Fee previously due, but deposited to the
Reserve Account .................................................................................. $ --
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(4) To the Series Obligors, as holders of the Residual Interest, any
Available Funds remaining on deposit in the Facility Account ..................................... $ 150,068.26
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IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the related
Collection Period .................................................................................... 2,892,476.69
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(b.) Servicer Advances reimbursed during the related Collection Period .................................... 90,196.97
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(c.) Amount of unreimbursed Servicer Advances to be reimbursed on the
Settlement Date ...................................................................................... 234,690.29
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(d.) Servicer Advances made during the related Collection Period .......................................... 0.00
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(e.) Aggregate amount of Servicer Advances at the end of the Collection
Period ............................................................................................... $ 2,567,589.43
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V. RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .................................. $ 4,534,671.90
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(b.) Amounts used to cover shortfalls, if any, for the related Collection Period ......................... $ --
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(c.) Amounts transferred from the Facility Account, if applicable ......................................... $ --
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(d.) Interest earned on Reserve Balance ................................................................... $ 23,458.15
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(e.) Reserve Account Ending Balance before calculating Required Reserve Amount ............................ $ 4,558,130.05
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(f.) Required Reserve Amount needed as of the related Collection Period ................................... $ --
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(g1.) If (f) is greater than (e), then amount of shortfall ................................................. 0.00
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(g2.) If (e) is greater than (f), then excess amount to be transferred to the
Series Obligors ...................................................................................... 4,558,130.05
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(h.) Amounts on deposit as of this Settlement Date (e minus g2) ........................................... $ --
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VI. RESIDUAL ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .................................. 0.00
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(b.) Amounts transferred from the Facility Account ........................................................ 0.00
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(c.) Amounts used to cover shortfalls for the related Collection Period ................................... 0.00
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(d.) Amount on deposit as of this Settlement Date ......................................................... 0.00
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VII. ADDITIONAL PROPERTY FUNDING ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .................................. 0.00
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(b.) Amounts transferred from the Facility Account ........................................................ 0.00
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(c.) Amounts transferred to the Series Obligors ........................................................... 0.00
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(d.) Amount on deposit as of this Settlement Date ......................................................... 0.00
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VIII. ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments ................................................................. $ 2,125,505.65
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(b.) Amount of Advance Payments collected during the related Collection Period ............................ $ 1,629,521.50
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(c.) Investment earnings for the related Collection Period ................................................ $ 13,191.20
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(d.) Amount of Advance Payments withdrawn for deposit into Facility Account ............................... $ 1,626,360.28
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(e.) Ending aggregate Advance Payments .................................................................... $ 2,141,858.07
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ADVANTA BUSINESS SERVICES CORP., AS SERVICER
BY: /s/ John Paris
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TITLE: SR VP
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DATE: 07/13/00
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