Exhibit 99.1 ANNUAL SERVICER'S CERTIFICATE BANK ONE, ARIZONA, N.A. BANK ONE AUTO GRANTOR TRUST 1996-B The undersigned, a duly authorized representative of Bank One, Arizona, N.A., as Servicer (the "Servicer"), pursuant to Section 3.10(a) of the Pooling and Servicing Agreement dated as of June 1, 1996 (the "Agreement") between the Servicer, Banc One ABS Corporation, as Seller, and Bankers Trust Company, as Trustee, does hereby certify on behalf of the Servicer as follows: 1) Bank One, Arizona, N.A., is, as of the date hereof, the Servicer under the Agreement. 2) Capitalized terms used in this Certificate have their respective meanings as set forth in the Agreement. 3) A review of the activities of the Servicer during the period from January 1, 1997 to December 31, 1997 (the "Applicable Period") and of its performance under the Agreement has been made by me or under my supervision. 4) Based on such review, the Servicer has, to the best of my knowledge, fulfilled all its obligations under the Agreement throughout the Applicable period and no default in the fulfillment of such obligations has occurred or is continuing except as set forth in paragraph 5 below. 5) The following is a description of each default in the performance of the Servicer's obligations under the provisions of the Agreement known to me to have been made by the Servicer during the year ended December 31, 1997. a) Errors were discovered in each of the Distribution Date Statements with respect to calculations, payments and reporting required to be made by the Servicer pursuant to the Agreement. The errors were found beginning with the Distribution Date Statement reflecting the Trust's activities for the Collection Period from June 1, 1996 through June 30, 1996 (Collection Period) and continuing with each successive Distribution Date Statement through and including the Distribution Date Statement reflecting the Trust's activities for the July 1997 Collection Period. The errors in each of the Distribution Date Statements affected, among other things, the reported amount of principal and interest collections received by the Trust during each collection period, beginning with the June 1996 Collection Period. In aggregate, the attached reconciliation (Exhibit A) reflects an underpayment to Certificateholders of $1,487,397.50 in principal and $3,633.41 in interest totaling $1,491,030.91. In addition, there was an overpayment of interest to the Certificateholders of approximately $25,000 from the June 1996 Collection Period through the July 1997 Collection Period. The Servicer deposited from its own funds, the sum of $1,491,030.91 into the Collection Account for subsequent distribution to the Certificateholders on the September 1997 Distribution Date. The Servicer waived all rights and claims with respect to the interest which the Servicer paid in excess of that required through the July 1997 Collection Period. The payment of the understated principal amount as noted above cured all deficiencies due the Certificateholders from the Closing Date through the July 1997 Collection Period. The Servicer prepared amended and restated Distribution Date Statements for the Collection Period beginning June 1, 1996 through June 30, 1996 and continuing with each successive Distribution Date Statement up through and including the Distribution Date Statement reflecting the Trust's collection activity through July 1997. The amended and restated Distribution Date Statements were delivered to the Trustee and the Rating Agencies (Standard and Poor's Corporation and Moody's Investors Service) in August 1997. b) The Servicer did not provide to the Trustee and Rating Agencies an Annual Independent Certified Public Accountants' Report, known generally as the Agreed Upon Procedures Report, for the period January 1, 1996 through December 31, 1996 as defined in the Agreement, section 3.11. The inability of the Servicer to provide such report is the direct result of a change in AICPA's Professional Standards (SAS#75) which governs the preparation and distribution of such report. In general, SAS#75 limits the usage of this report unless the users take responsibility for the specific procedures to be performed. The Servicer's inability to provide the Agreed Upon Procedures Report was discussed with the Trustee and the Rating Agencies. In lieu of providing the Agreed Upon Procedures Report, the Servicer provided to the Trustee and the Rating Agencies a report issued by a firm of independent certified public accountants to the effect that (i) such accountants have examined the assertions by The Servicer's management that, as of December 31, 1996, The Servicer maintained effective internal controls over the servicings of the receivables and (ii) such assertion is fairly stated in all material respects. Discussions with the Trustee and Rating Agencies on the matter resulted in the acceptance of the Accountant's examination of management's assertions as to the effectiveness of the internal controls over the loans being serviced. IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate as of the 31st day of December 1997. BANK ONE, ARIZONA, N.A., as Servicer By: /s/ Tom Lewis ----------------- Name: Tom Lewis Title: Vice President Exhibit A Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 09/16/96 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $266,038,310.56 $266,154,699.27 $116,388.71 906.5604 906.9570 0.3966 Interest Distribution: $1,452,125.78 $1,452,761.07 $635.29 4.9483 4.9505 0.0022 Ending Principal: $253,240,531.39 $253,371,564.28 $131,032.89 862.9503 863.3968 0.4465 Class B Cusip #058904AD5 Beginning Principal: $11,085,176.75 $11,090,026.96 $4,850.21 906.5604 906.9570 0.3967 Interest Distribution: $61,892.24 $61,919.32 $27.08 5.0616 5.0638 0.0022 Ending Principal: $10,551,924.04 $10,557,384.46 $5,460.42 862.9503 863.3968 0.4465 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 10/15/96 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $253,240,531.39 $253,371,564.28 $131,032.89 862.9503 863.3968 0.4465 Interest Distribution: $1,382,271.23 $1,382,986.46 $715.23 4.7103 4.7127 0.0024 Ending Principal: $241,499,007.73 $241,630,530.48 $131,522.75 822.9395 823.3877 0.4482 Class B Cusip #058904AD5 Beginning Principal: $10,551,924.04 $10,557,384.46 $5,460.42 862.9503 863.3969 0.4466 Interest Distribution: $58,914.91 $58,945.40 $30.49 4.8181 4.8206 0.0025 Ending Principal: $10,062,682.98 $10,068,163.81 $5,480.83 822.9394 823.3877 0.4481 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 11/15/96 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $241,499,007.73 $241,630,530.48 $131,522.75 822.9395 823.3877 0.4482 Interest Distribution: $1,318,182.08 $1,318,899.98 $717.90 4.4919 4.4943 0.0024 Ending Principal: $228,607,918.97 $228,750,063.39 $142,144.42 779.0114 779.4958 0.4844 Class B Cusip #058904AD5 Beginning Principal: $10,062,682.98 $10,068,163.81 $5,480.83 822.9395 823.3877 0.4482 Interest Distribution: $56,183.31 $56,213.91 $30.60 4.5947 4.5972 0.0025 Ending Principal: $9,525,542.30 $9,531,465.71 $5,923.41 779.0114 779.4958 0.4843 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 12/15/96 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $228,607,918.97 $228,750,063.39 $142,144.42 779.0114 779.4958 0.4844 Interest Distribution: $1,247,818.22 $1,248,594.10 $775.88 4.2521 4.2547 0.0026 Principal Distribution: $10,745,727.41 $10,824,119.71 $78,392.30 36.6175 36.8846 0.2671 Ending Principal: $217,862,191.56 $217,925,943.68 $63,752.12 742.3940 742.6112 0.2172 Class B Cusip #058904AD5 Beginning Principal: $9,525,542.30 $9,531,465.71 $5,923.41 779.0114 779.4958 0.4844 Interest Distribution: $53,184.28 $53,217.35 $33.07 4.3495 4.3522 0.0027 Principal Distribution: $447,748.63 $451,015.05 $3,266.42 36.6175 36.8846 0.2671 Ending Principal: $9,077,793.67 $9,080,450.66 $2,656.99 742.3940 742.6112 0.2172 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 01/15/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $217,862,191.56 $217,925,943.68 $63,752.12 742.3940 742.6112 0.2172 Interest Distribution: $1,189,164.46 $1,189,512.44 $347.98 4.0522 4.0534 0.0012 Principal Distribution: $10,236,893.55 $10,247,042.33 $10,148.78 34.8836 34.9181 0.0346 Ending Principal: $207,625,298.01 $207,678,901.35 $53,603.34 707.5104 707.6931 0.1827 Class B Cusip #058904AD5 Beginning Principal: $9,077,793.67 $9,080,450.66 $2,656.99 742.3940 742.6113 0.2173 Interest Distribution: $50,684.35 $50,699.18 $14.83 4.1450 4.1462 0.0012 Principal Distribution: $426,546.74 $426,969.62 $422.88 34.8836 34.9181 0.0346 Ending Principal: $8,651,246.93 $8,653,481.04 $2,234.11 707.5104 707.6931 0.1826 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 02/17/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $207,625,298.01 $207,678,901.35 $53,603.34 707.5104 707.6931 0.1827 Interest Distribution: $1,133,288.08 $1,133,580.67 $292.59 3.8618 3.8628 0.0010 Principal Distribution: $9,994,861.40 $10,304,451.00 $309,589.60 34.0588 35.1138 1.0550 Ending Principal: $197,630,436.61 $197,374,450.35 ($255,986.26) 673.4516 672.5793 -0.8723 Class B Cusip #058904AD5 Beginning Principal: $8,651,246.93 $8,653,481.04 $2,234.11 707.5104 707.6931 0.1827 Interest Distribution: $48,302.80 $48,315.27 $12.47 3.9503 3.9513 0.0010 Principal Distribution: $416,461.84 $429,361.70 $12,899.86 34.0588 35.1138 1.0550 Ending Principal: $8,234,785.09 $8,224,119.34 ($10,665.75) 673.4516 672.5793 -0.8724 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original s Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 03/17/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $197,630,436.61 $197,374,450.35 ($255,986.26) 673.4516 672.5793 -0.8723 Principal Distribution: $9,294,701.30 $9,525,054.08 $230,352.78 31.6729 32.4579 0.7850 Ending Principal: $188,335,735.31 $187,849,396.27 ($486,339.04) 641.7787 640.1214 -1.6573 Class B Cusip #058904AD5 Beginning Principal: $8,234,785.09 $8,224,119.34 ($10,665.75) 673.4516 672.5793 -0.8723 Principal Distribution: $387,287.86 $396,886.10 $9,598.24 31.6729 32.4579 0.7850 Ending Principal: $7,847,497.23 $7,827,233.24 ($20,263.99) 641.7787 640.1214 -1.6573 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 04/15/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $188,335,735.31 $187,849,396.27 ($486,339.04) 641.7787 640.1214 -1.6573 Principal Distribution: $10,113,132.59 $10,433,897.73 $320,765.14 34.4618 35.5549 1.0930 Ending Principal: $178,222,602.72 $177,415,498.54 ($807,104.18) 607.3169 604.5666 -2.7503 Class B Cusip #058904AD5 Beginning Principal: $7,847,497.23 $7,827,233.24 ($20,263.99) 641.7787 640.1215 -1.6572 Principal Distribution: $421,389.92 $434,755.43 $13,365.51 34.4618 35.5549 1.0930 Ending Principal: $7,426,107.31 $7,392,477.81 ($33,629.50) 607.3169 604.5666 -2.7504 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 05/15/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $178,222,602.72 $177,415,498.54 ($807,104.18) 607.3169 604.5666 -2.7503 Principal Distribution: $9,580,777.19 $9,840,874.84 $260,097.65 32.6478 33.5341 0.8863 Ending Principal: $168,641,825.53 $167,574,623.70 ($1,067,201.83) 574.6691 571.0325 -3.6366 Class B Cusip #058904AD5 Beginning Principal: $7,426,107.31 $7,392,477.81 ($33,629.50) 607.3169 604.5666 -2.7503 Principal Distribution: $399,207.95 $410,045.60 $10,837.65 32.6478 33.5341 0.8863 Ending Principal: $7,026,899.36 $6,982,432.21 ($44,467.15) 574.6691 571.0325 -3.6367 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 06/16/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $168,641,825.53 $167,574,623.70 ($1,067,201.83) 574.6691 571.0325 -3.6366 Principal Distribution: $8,735,811.20 $8,923,027.17 $187,215.97 29.7684 30.4064 0.6380 Ending Principal: $159,906,014.33 $158,651,596.53 ($1,254,417.80) 544.9007 540.6261 -4.2746 Class B Cusip #058904AD5 Beginning Principal: $7,026,899.36 $6,982,432.21 ($44,467.15) 574.6691 571.0325 -3.6366 Principal Distribution: $364,000.25 $371,801.09 $7,800.84 29.7684 30.4064 0.6380 Ending Principal: $6,662,899.11 $6,610,631.12 ($52,267.99) 544.9007 540.6261 -4.2746 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 07/15/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $159,906,014.33 $158,651,596.53 ($1,254,417.80) 544.9007 540.6261 -4.2746 Ending Principal: $150,613,091.67 $149,370,946.81 ($1,242,144.86) 513.2338 509.0011 -4.2328 Class B Cusip #058904AD5 Beginning Principal: $6,662,899.11 $6,610,631.12 ($52,267.99) 544.9007 540.6261 -4.2745 Ending Principal: $6,275,685.36 $6,223,928.76 ($51,756.60) 513.2338 509.0011 -4.2328 Banc One Auto Grantor Trust 1996-B Reconciliation between revised and original investor reports Original Revised Variance Original Revised Variance Distribution -------- ------- -------- -------- ------- -------- Date 08/15/97 Per $1,000 Per $1,000 Per $1,000 of of of Original Original Original Principal Principal Principal Dollars Dollars Dollars Balance Balance Balance ------- ------- ------- ------- ------- ------- Class A Cusip #058904AC7 Beginning Principal: $150,613,091.67 $149,370,946.81 ($1,242,144.86) 513.2338 509.0011 -4.2328 Principal Distribution: $8,401,167.53 $8,432,505.62 $31,338.09 28.6281 28.7349 0.1068 Ending Principal: $142,211,924.14 $140,938,441.19 ($1,273,482.95) 484.6058 480.2662 -4.3396 Class B Cusip #058904AD5 Beginning Principal: $6,275,685.36 $6,223,928.76 ($51,756.60) 513.2338 509.0011 -4.2327 Principal Distribution: $350,056.45 $351,362.24 $1,305.79 28.6281 28.7349 0.1068 Ending Principal: $5,925,628.91 $5,872,566.52 ($53,062.39) 484.6058 480.2662 -4.3396