Payment Date: 16 February, 1999.
Calculation Date: 09 February, 1999.
(i) ACCOUNT ACTIVITY SUMMARY (Between Calculation Dates)
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Prior Balance Deposits Withdrawals Balance on Calculation Date
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11-Jan-99 9-Feb-99
Lessee Funded Account 0.00 0.00 (0.00) 0.00
Expense Account (note ii) 78,238.79 14,942,507.79 (9,747,313.91) 5,273,432.67
Collection Account (note iii) 215,207,833.11 40,994,520.77 (45,443,601.11) 210,758,752.77
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- Miscellaneous Reserve 40,000,000.00 40,000,000.00
- Maintenance Reserve 80,000,000.00 80,000,000.00
- Security Deposit 50,404,232.00 49,764,232.00
- Other Collections (net
of interim withdrawals) 44,803,601.11 40,994,520.77
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Total 215,286,071.90 55,937,028.56 (55,190,915.02) 216,032,185.44
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(ii) ANALYSIS OF EXPENSE ACCOUNT ACTIVITY
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Balance on preceding Calculation Date (Jan 11,1999) 78,238.79
Transfer from Collection Account (previous Payment Date) 14,921,761.21
Transfer from Collection Account (interim deposit) 0.00
Interest Earned during period 20,746.58
Payments during period between prior Calculation Date and the relevant Calculation Date:
- Payments on previous Payment Date (2,760,108.49)
- Other payments (6,987,205.42)
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Balance on relevant Calculation Date (Feb 09, 1999) 5,273,432.67
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(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY
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Balance on preceding Calculation Date (Jan 11,1999) 215,207,833.11
Collections during period 38,376,190.10
Swap/Swaption receipts 2,618,330.67
Transfer to Expense Account (previous Payment Date) (14,921,761.21)
Transfer to Expense Account (interim withdrawal)
Net transfer to Lessee Funded Accounts
Aggregate Certificate Payments (previous Payment Date) (30,114,634.94)
Swap payments (previous Payment Date) (407,204.96)
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Balance on relevant Calculation Date (Feb 09, 1999) 210,758,752.77
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(iii)ANALYSIS OF COLLECTION ACCOUNT ACTIVITY (Cont'd)
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ANALYSIS OF CURRENT PAYMENT DATE DISTRIBUTIONS
Priority of Payments
(i)Required Expense Amount 15,000,000.00
(ii)a) Class A Interest 10,501,566.10
b) Swap Payments 1,099,910.97
(iii)First Collection Account Top-up 120,000,000.00
(iv)Minimum Hedge Payment 155,000.00
(v)Class A Minimum Principal 0.00
(vi)Class B Interest 1,611,277.50
(vii)Class B Minimum Principal 1,187,545.42
(viii)Class C Interest 2,489,315.63
(ix)Class D Interest 3,625,000.00
(x)Second Collection Account Top-up 50,307,232.00
(xi)Class A Principal Adjustment Amount 10,055,337.82
(xii)Class C Scheduled Principal 0.00
(xiii)Class D Scheduled Principal 0.00
(xiv)Modification Payments 0.00
(xv)Soft Bullet Note Step-up Interest 0.00
(xvi)Class E Minimum Interest 0.00
(xvii)Supplemental Hedge Payment 0.00
(xviii)Class B Supplemental Principal 0.00
(xix)Class A Supplemental Principal 0.00
(xx)Class D Outstanding Principal 0.00
(xxi)Class C Outstanding Principal 0.00
(xxii)Class E Supplemental Interest 0.00
(xxiii)Class B Outstanding Principal 0.00
(xxiv)Class A Outstanding Principal 0.00
(xxv)Class E Accrued Unpaid Interest 0.00
(xxvi)Class E Outstanding Principal 0.00
(xxvii)Charitable Trust 0.00
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Total Payments with respect to Payment Date 216,032,185.44
Less Collection Account Top-Ups ((iii) and (x)above) (170,307,232.00)
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45,724,953.44
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(iv) PAYMENT ON THE CERTIFICATES
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(a) FLOATING RATE CERTIFICATES A-4 A-6 A-7 A-8 Class B
Applicable LIBOR 5.00000% 5.00000% 5.00000% 5.00000% 5.00000%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 5.62000% 5.34000% 5.26000% 5.37500% 5.75000%
Interest Amount Payable 999,111.11 3,586,454.99 2,571,555.56 3,344,444.44 1,611,277.50
Step Up Interest Amount 0.00 0.00 0.00 0.00 0.00
Opening Principal Balance 200,000,000.00 755,573,382.15 550,000,000.00 700,000,000.00 315,249,945.56
Minimum Principal Payment
Amount 0.00 0.00 0.00 0.00 1,187,545.42
Adjusted Principal Payment
Amount 0.00 10,055,337.82 0.00 0.00 0.00
Supplemental Principal
Payment Amount 0.00 0.00 0.00 0.00 0.00
Total Principal Distribution
Amount 0.00 10,055,337.82 0.00 0.00 1,187,545.42
Redemption Amount
- amount allocable to principal 0.00 0.00 0.00 0.00 0.00
- premium allocable to premium 0.00 0.00 0.00 0.00 0.00
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Outstanding Principal Balance
(Feb 16,1999) 200,000,000.00 745,518,044.33 550,000,000.00 700,000,000.00 314,062,400.14
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(b) FIXED RATE CERTIFICATES Class C Class D
Applicable Interest Rate 8.1500% 10.8750%
Interest Amount Payable 2,489,315.63 3,625,000.00
Opening Principal Balance 366,525,000.00 400,000,000.00
Scheduled Principal Payment
Amount 0.00 0.00
Redemption Amount
- amount allocable to principal 0.00 0.00
- amount allocable to premium 0.00 0.00
Actual Pool Factor 0.9774000 1.0000000
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Outstanding Principal Balance
(Feb 16,1999) 366,525,000.00 400,000,000.00
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Table of rescheduled Pool Factors n/a n/a
in the event of a partial redemption
(v) FLOATING RATE CERTIFICATE INFORMATION FOR NEXT INTEREST ACCRUAL PERIOD (Aggregate Amounts)
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A-4 A-6 A-7 A-8 Class B
Applicable LIBOR 4.93563% 4.93563% 4.93563% 4.93563% 4.93563%
Applicable Margin 0.62000% 0.34000% 0.26000% 0.37500% 0.75000%
Applicable Interest Rate 5.55563% 5.27563% 5.19563% 5.31063% 5.68563%
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(vi) CURRENT PERIOD PAYMENTS Per $100,000 Initial Outstanding Principal Balance of Certificates)
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(a) FLOATING RATE CERTIFICATES
A-4 A-6 A-7 A-8 Class B
Opening Principal Amount 2,000.00 7,555.73 5,500.00 7,000.00 3,152.50
Total Principal Payments 0.00 100.55 0.00 0.00 11.88
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Closing Outstanding
Principal Balance 2,000.00 7,455.18 5,500.00 7,000.00 3,140.62
Total Interest 9.99 35.86 25.72 33.44 16.11
Total Premium 0.00 0.00 0.00 0.00 0.00
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(b) FIXED RATE CERTIFICATES
Class C Class D
Opening Principal Amount 3,665.25 4,000.00
Total Principal Payments 0.00 0.00
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Outstanding Principal Balance 3,665.25 4,000.00
Total Interest 24.89 36.25
Total Premium 0.00 0.00
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