First Sierra Equipment Contract Trust Series 1997-1 Monthly Servicer Certificate for September 2001

Summary

This document is a Monthly Servicer Certificate issued by First Sierra Receivables IV, Inc. for the First Sierra Equipment Contract Trust Series 1997-1, covering the collection period ending September 1, 2001. It details the distribution of collected funds to note holders, payment of fees, and principal and interest allocations among various note classes. The certificate is reviewed by American Express Business Finance and is subject to revision pending an ongoing audit. The document ensures transparency in the allocation of payments and compliance with the underlying servicing agreement.

EX-1.1 3 dex11.txt EXHIBIT 1.1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Payment Summary ** Collection Period Ended September 1, 2001 Available Amount to Note Holders: 3,452,111.39 Disbursements from Collection Account: Section 3.04(b) of the Servicing Agreement (i) Initial Unpaid Amounts inadvertantly deposited in Collection Account - (ii) Indemnity Payments paid inadvertantly deposited in Collection Account - (iii) Aggregate of: (a) Unreimbursed Servicer Advances 543,163.49 (b) Servicer Fees from current and prior Collection Period 13,922.20 (c) Servicing Charges inadvertantly deposited in Collection Account - (iv) Current and unpaid Back-up Servicing Fees 556.89 (v) Premium Amount due on Payment Date and unpaid Premium Amounts 3,302.31 Adjustment to prior month premium amount - (vi) Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees 291.67 (vii) Reimbursable Trustee Expenses pre 7.07(a)(ii) - (viii) Class A-1 through A-4 Note Interest on a pari passu basis: Class A-1 Note Interest - Adjustment to prior month Class A-1 Note Interest - Class A-2 Note Interest - Class A-3 Note Interest - Class A-4 Note Interest 149,783.51 (ix) Class B-1 Note Interest 3,514.64 (x) Letter of Credit Bank Fee and unpaid amounts 280.76 (xi) Class B-2 Note Interest 3,292.59 (xii) Class A-1 throught A-4 Principal Distribution Amount: Class A-1 Principal Distribution Amount - Class A-2 Principal Distribution Amount - Class A-3 Principal Distribution Amount - Class A-4 Principal Distribution Amount 2,563,260.80 (xiii) Note Insuer Reimbursement Amount - (xiv) Class B-1 Base Principal Distribution Amount plus Class B-1 Overdue Principal 55,723.06 (xv) Class B-2 Base Principal Distribution Amount plus Class B-2 Overdue Principal 55,723.06 (xvi) Letter of Credit Reimbursement Amount - (xvii) Class B-3 Note Interest 3,573.35 (xviii) Class B-3 Base Principal Distribution Amount plus Class B-3 Overdue Principal 55,723.06 (xix) Excess Indenture Trustee Expenses over those permitted by Section 7.07(a)(ii) - (xx) Letter of Credit Additional Reimbursement Amount - (xxi) Other Amounts Due Servicer under Servicing Agreement - (xxii) Remaining Amount to Residual Holder - Additional Principal Distribution Amount to Noteholders Class A-1 additional Principal Distribution Amount - Class A-2 additional Principal Distribution Amount - Class A-3 additional Principal Distribution Amount - Class A-4 additional Principal Distribution Amount - Class B-1 additional Principal Distribution Amount - Class B-2 additional Principal Distribution Amount - Class B-3 additional Principal Distribution Amount -

Reviewed By: ___________________________________________________________________ Joel Cappon Controller, American Express Business Finance "*The Servicer is presently conducting an audit of Leases acquired from a single Source. Accordingly, this Monthly Statement is subject to revision after conclusion of such audit. We anticipate that such audit will be substantially complete in the near future. Page 1 First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Note Balance Rollforward Collection Period Ended September 1, 2001
Initial Beginning Base Additional Total Ending Ending Principal Principal Principal Principal Principal Principal Certificate Class Balance Balance Distribution Distribution Distribution Balance Factor -------------- ------------- ------------- ------------- ------------ ------------ ------------- ----------- Class A-1 32,998,000.00 - - - - - 0.0000000 Class A-2 85,479,000.00 - - - - - 0.0000000 Class A-3 51,527,000.00 - - - - - 0.0000000 Class A-4 38,238,000.00 28,305,544.65 2,563,260.80 - 2,563,260.80 25,742,283.86 0 ###-###-#### -------------- ------------- ------------ ------------- ------------ ------------- --------- Total Class A 208,242,000.00 28,305,544.65 2,563,260.80 - 2,563,260.80 25,742,283.86 0.1236172 Class B-1 4,527,000.00 612,574.19 55,723.06 - 55,723.06 556,851.12 0.1230067 Class B-2 4,527,000.00 612,574.19 55,723.06 - 55,723.06 556,851.12 0.1230067 Class B-3 4,527,000.00 612,574.19 55,723.06 - 55,723.06 556,851.13 0.1230067 -------------- ------------- ------------ ------------- ------------ ------------- --------- Total 221,823,000.00 30,143,267.21 2,730,429.97 - 2,730,429.97 27,412,837.24 ADCPB at end Period 30,627,137.70 ------------- Excess of ending over ending note balance 3,214,300.46 Floor 4,527,025.86 ------------- Difference (1,312,725.40) -
First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended September 1, 2001 Available Funds Collection Account balance, as of August 31, 2001 1,379,507.13 Transfer payments due Collection Account from other Bankers Trust Accounts - Investment earnings on amounts in Collection Account 3,348.66 Payments due Collection Account from last 3 business days of Collection Period 792,054.22 Additional contribution for terminated trade-ups and rebooked leases 17,713.39 Servicer Advance on current Determination Date 1,259,487.99 ------------ Available Funds on Payment Date 3,452,111.39 Initial Unpaid Amounts inadvertantly deposited in Collection Account - ------------ Remaining Available Funds 3,452,111.39 Indemnity Payments paid inadvertantly deposited in Collection Account - ------------ Remaining Available Funds 3,452,111.39 Unreimbursed Servicer Advances Unreimbursed Servicer Advances due 543,163.49 Unreimbursed Servicer Advances paid 543,163.49 ------------ Unreimbursed Servicer Advances remaining unpaid - ------------ Remaining Available Funds 2,908,947.90 Servicer Fees Servicer Fees due 13,922.20 Servicer Fees paid 13,922.20 ------------ Servicer Fees remaining unpaid - ------------ Remaining Available Funds 2,895,025.70 Servicer Charges inadvertantly deposited in Collection Account - ------------ Remaining Available Funds 2,895,025.70 Back-up Servicer Fees Back-up Servicer Fees due 556.89 Back-up Servicer Fees paid 556.89 ------------ Back-up Servicer Fees remaining unpaid - ------------ Remaining Available Funds 2,894,468.81 Premium Amount Premium Amount due 3,302.31 Premium Amount paid 3,302.31 ------------ Premium Amount remaining unpaid - ------------ Remaining Available Funds 2,891,166.49 Indenture Trustee Fee due on Payment Date and unpaid Indenture Trustee Fees Indenture Trustee Fee due 291.67 Indenture Trustee Fee paid 291.67 ------------ Indenture Trustee Fee remaining unpaid - ------------ Remaining Available Funds 2,890,874.82 Reimbursable Trustee Expenses per 7.07(a)(ii) Total Indenture Trustee Expenses due - Cap on Indenture Trustee Expenses per 7.07 (a)(ii) 75,000.00 ------------ Total Indenture Trustee Expenses paid - ------------ Indenture Trustee Expenses unpaid - Remaining Available Funds 2,890,874.82

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended September 1, 2001 Class A-1 through A-4 Note Interest on a pari passu basis: Class A-1 Note Interest - Class A-2 Note Interest - Class A-3 Note Interest - Class A-4 Note Interest 149,783.51 ------------- Total Class A Interest due 149,783.51 ------------- Remaining Available Funds 2,741,091.32 Class B-1 Note Interest Class B-1 Note Interest due 3,514.64 Class B-1 Note Interest paid 3,514.64 ------------- Class B-1 Note Interest remaining unpaid - ------------- Remaining Available Funds 2,737,576.67 Letter of Credit Bank Fee and unpaid amounts Letter of Credit Bank Fee due 280.76 Letter of Credit Bank Fee paid 280.76 ------------- Letter of Credit Bank Fee remainig unpaid - ------------- Remaining Available Funds 2,737,295.91 Class B-2 Note Interest Class B-2 Note Interest due 3,292.59 Class B-2 Note Interest paid 3,292.59 ------------- Class B-2 Note Interest remaining unpaid - ------------- Remaining Available Funds 2,734,003.32 Class A Base Principal Distribution Class A Base Principal Distribution Amount due 2,563,260.80 Class A Note Principal Balance as of preceding Payment Date 28,305,544.65 ------------- Class A Base Principal Distribution Amount paid 2,563,260.80 ------------- Class A Base Principal Distribution Amount remaining unpaid - Class A-1 Note Principal Balance as of preceding Payment Date - Class A-1 Base Principal Distribution Amount paid - ------------- Class A-1 Note Principal Balance after distribution on Payment Date - ------------- Remaining Class A Base Principal Distribution Amount 2,563,260.80 ------------ Class A-2 Note Principal Balance as of preceding Payment Date - Class A-2 Base Principal Distribution Amount paid - ------------- Class A-2 Note Principal Balance after distribution on Payment Date - Remaining Class A Base Principal Distribution Amount 2,563,260.80 ------------- Class A-3 Note Principal Balance as of preceding Payment Date - Class A-3 Base Principal Distribution Amount paid - ------------- Class A-3 Note Principal Balance after distribution on Payment Date - Remaining Class A Base Principal Distribution Amount 2,563,260.80 ------------- Class A-4 Note Principal Balance as of preceding Payment Date 28,305,544.65 Class A-4 Base Principal Distribution Amount paid 2,563,260.80 ------------- Class A-4 Note Principal Balance after distribution on Payment Date 25,742,283.86 Remaining Available Funds 170,742.53

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended September 1, 2001 Note Insurer Reimbursement Amount Note Insuer Reimbursement Amount due - Note Insuer Reimbursement Amount paid - ------------- Note Insuer Reimbursement Amount remaining unpaid - Remaining Available Funds 170,742.53 Class B-1 Base Principal Distribution Class B-1 Note Principal Balance as of preceding Payment Date 612,574.19 Class B-1 Base Principal Distribution due 55,723.06 Class B-1 Base Principal Distribution paid 55,723.06 ------------- Class B-1 Base Principal Distribution remaining unpaid - Class B-1 Note Principal Balance after distribution on Payment Date 556,851.12 Remaining Available Funds 115,019.47 Class B-2 Base Principal Distribution Class B-2 Note Principal Balance as of preceding Payment Date 612,574.19 Class B-2 Base Principal Distribution due 55,723.06 Class B-2 Base Principal Distribution paid 55,723.06 ------------- Class B-2 Base Principal Distribution remaining unpaid - Class B-2 Note Principal Balance after distribution on Payment Date 556,851.12 Remaining Available Funds 59,296.41 Letter of Credit Reimbursement Amount Letter of Credit Reimbursement Amount due - Letter of Credit Reimbursement Amount paid - ------------- Letter of Credit Reimbursement Amount remaining unpaid - Remaining Available Funds 59,296.41 Class B-3 Note Interest Class B-3 Note Interest due 3,573.35 Class B-3 Note Interest paid 3,573.35 ------------- Class B-3 Note Interest remaining unpaid - ------------- Remaining Available Funds 55,723.06 Class B-3 Base Principal Distribution Class B-3 Note Principal Balance as of preceding Payment Date 612,574.19 Class B-3 Base Principal Distribution due 55,723.06 Class B-3 Base Principal Distribution paid 55,723.06 ------------- Class B-3 Base Principal Distribution remaining unpaid 0.00 Class B-3 Note Principal Balance after distribution on Payment Date 556,851.13 Remaining Available Funds - Indenture Trustee Expenses in excess of Section 7.07(a)(ii) Indenture Trustee Expenses unpaid per above - Remaining Indenture Trustee Expenses paid - ------------- Remaining Indenture Trustee Expenses unpaid - Remaining Available Funds - Additional Letter of Credit Reimbursement Amount Additional Letter of Credit Reimbursement Amount due - Additional Letter of Credit Reimbursement Amount paid - ------------- Additional Letter of Credit Reimbursement Amount remaining unpaid - Remaining Available Funds - Other Amounts Due Servicer under Servicing Agreement Other Amounts Due Servicer under Servicing Agreement due - Other Amounts Due Servicer under Servicing Agreement paid - ------------- Other Amounts Due Servicer under Servicing Agreement remaining unpaid - Remaining Available Funds -

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended September 1, 2001 Difference between excess of ADCPB over Ending Note Balances and Floor 1,312,725.40 Amount Payable to Residual Holder - Remaining Available Funds to Note Holders - Class A Additional Principal Distribution Remaining Available Funds to Note Holders - Adjusted Principal Distribution Sharing Ratio 93.878% ------ Additional Principal Distribution to Class A - Class A Note Principal Balance after payment above 25,742,283.86 ------------- Class A additional Principal Distribution Amount paid - ------------- Excess cash after payment of additional Class A Principal Distribution - Class A-1 Note Principal Balance after payment above - Class A-1 additional Principal Distribution Amount paid - ------------- Class A-1 Note Principal Balance after distribution on Payment Date - ------------- Remaining Class A additional Principal Distribution Amount - ------------- Class A-2 Note Principal Balance after payment above - Class A-2 additional Principal Distribution Amount paid - ------------- Class A-2 Note Principal Balance after distribution on Payment Date - Remaining Class A additional Principal Distribution Amount - ------------- Class A-3 Note Principal Balance after payment above - Class A-3 additional Principal Distribution Amount paid - ------------- Class A-3 Note Principal Balance after distribution on Payment Date - Remaining Class A additional Principal Distribution Amount - ------------- Class A-4 Note Principal Balance after payment above 25,742,283.86 Class A-4 additional Principal Distribution Amount paid - ------------- Class A-4 Note Principal Balance after distribution on Payment Date 25,742,283.86 Class B-1 Additional Principal Distribution Remaining Available Funds to Note Holders - Adjusted Principal Distribution Sharing Ratio 2.041% ------ Additional Principal Distribution to Class B-1 - Class B-1 Note Principal Balance after payment above 556,851.12 Class B-1 additional Principal Distribution paid - ------------- Class B-1 Note Principal Balance after distribution on Payment Date 556,851.12

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Priority of Payments Collection Period Ended September 1, 2001 Class B-3 Additional Principal Distribution Remaining Available Funds to Note Holders - Adjusted Principal Distribution Sharing Ratio 2.041% ---------- Additional Principal Distribution to Class B-3 - Class B-3 Note Principal Balance after payment above 556,851.13 Class B-3 additional Principal Distribution paid - ---------- Class B-3 Note Principal Balance after distribution on Payment Date 556,851.13

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Fee Calculation Collection Period Ended September 1, 2001 Calculation of Base Principal Amount ADCPB, beginning of Collection Period 33,413,290.74 ADCPB, end of Collection Period 30,627,137.70 ------------- Base Principal Amount 2,786,153.04 Unreimbursed Servicing Advances Unreimbursed Servicing Advances from previous Collection Period 1,185,236.96 Servicing Advances collected-during the current Collection Period 642,073.47 ------------- Unreimbursed Servicing Advances as of current Determination Date 543,163.49

Calculation of Interest Due
Beginning Current Total Principal Interest Interest Overdue Interest Class Balance Rate Due Interest Due --------- ------------- -------- ---------- -------- ---------- Class A-1 - 5.7325% - - - Class A-2 - 6.3500% - - - Class A-3 - 6.3500% - - - Class A-4 28,305,544.65 6.3500% 149,783.51 - 149,783.51 Class B-1 612,574.19 6.8850% 3,514.64 - 3,514.64 Class B-2 612,574.19 6.4500% 3,292.59 - 3,292.59 Class B-3 612,574.19 7.0000% 3,573.35 - 3,573.35 ------------- --------- -------- ---------- 30,143,267.21 6.3761% 160,164.09 - 160,164.09
Calculation of Principal Due
Base Base Total Principal Principal Overdue Principal Class Amount Pct. Amount Principal Due --------- ----------- ------------ --------- ------------ Class A 92.0% 2,563,260.80 - 2,563,260.80 Class B-1 2.0% 55,723.06 - 55,723.06 Class B-2 2.0% 55,723.06 - 55,723.06 Class B-3 2.0% 55,723.06 - 55,723.06 ------------ -------- ------------ 2,730,429.98 - 2,730,429.98
Calculation of Servicer Fee ADCPB as of the prior Calculation Date 33,413,290.74 Servicer Fee Rate 0.500% One-twelfth 1/12 ---- Servicer Fee due current period 13,922.20 Prior Servicer Fee arrearage - ------------- Servicer Fee due 13,922.20 Calculation of Back-up Servicer Fee ADCPB as of the prior Calculation Date 33,413,290.74 Back-up Servicer Fee Rate 0.020% One-twelfth 1/12 ---- Back-up Servicer Fee due Current Period 556.89 less overpayment from prior period - Prior Back-up Servicer Fee Arrearage - ------------- Back-up Servicer Fee due 556.89

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Fee Calculation Collection Period Ended September 1, 2001 Calculation of Premium Amount Class A Principal Amount as of the immediately preceding Collection Period 28,305,544.65 Premium Rate 0.140% One-twelfth 1/12 ---- Premium Amount due Current Period 3,302.31 Prior Premium Amount arrearage - -------------- Total Premium Amount due 3,302.31 Indenture Trustee Fee (per Payment Date) Indenture Trustee Fee (per Payment Date) 291.67 Prior Indenture Trustee Fee arrearage - -------------- Total Indenture Trustee Fee due 291.67 Calculation of Letter of Credit Bank Fee Total Facility Face Amount (Class B-2 Note Principal Balance as of Deter. Date) 612,574.19 Letter of Credit Bank Fee Rate 0.55% One-twelfth 1/12 ---- Letter of Credit Bank Fee due Current Period 280.76 Letter of Credit Bank Fee arrearage - -------------- Total Letter of Credit Bank Fee arrearage due 280.76 Letter of Credit Reimbursement Amount Letter of Credit Reimbursement Amount due current period - Total Letter of Credit Reimbursement Amount due - -------------- Indenture Trustee Expenses Indenture Trustee Expenses due - Prior Indenture Trustee Expenses arrearage - -------------- Total Indenture Trustee Expenses due - Additional Letter of Credit Reimbursement Amount Additional Letter of Credit Reimbursement Amount due current period - Prior Additonal Letter of Credit Reimbursement Amount arrearage - -------------- Total Additional Letter of Credit Reimbursement Amount due - Other Amounts Due Servicer under Servicing Agreement Other Amounts Due Servicer under Servicing Agreement - current period - Prior Other Amounts Due Servicer under Servicing Agreement - arrearage - -------------- Total Other Amounts Due Servicer under Servicing Agreement - Floor Calculation Initial ADCPB 226,351,292.85 Floor percent 2.00% ----- Floor 4,527,025.86 ADCPB as of end of immediately preceding Collection Period 30,627,137.70 Aggregate Note Balances prior to any payment on current Payment Date 30,143,267.21 Payments on payment date prior to application of Floor Amount, if any Class A 2,563,260.80 Class B-1 55,723.06 Class B-2 55,723.06 Class B-3 55,723.06 -------------- Total Base Principal Amount distributions on current payment date 2,730,429.97 -------------- Aggregate Note Balance after payment of Base Principal Amount 27,412,837.24 -------------- Excess of ADCPB over Ending Note Balances 3,214,300.46 Difference between excess and floor 1,312,725.40

First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Tests Collection Period Ended September 1, 2001 Restricting Event Determination:
Yes/No ------ ~~A) Event of Servicer Termination (Yes/No) No B) Note Insuer has Made a Payment (Yes/No) No C) Gross Charge Off Event has Occurred (Yes/No) 0 No D) Delinquency Trigger Event has Occurred (Yes/No) No~~ Events of Default: Section 8.01 of Indenture Yes/No ------ A) Failure to distribute to the Noteholders all or part of any payment of Interest requried to be made under the Noerms of such Notes or the Indenture when due; and, No B) Failure to distribute to the Noteholders (x) on any Payment Date, an amount equal to the principal due on the Out Standing Notes as of such Payment Date to the extent that sufficient Available Funds are on deposit in the Collection Account of (y) on the Class A-1 Maturity Date, the Class A-2 Maturity Date, the Class A-3 Maturity Date, the Class A-4 Maturity Date, the Class B-1 Maturity Date, the Class B-2 Maturity Date, or the Class B-3 Maturity Date, as the case may be, on any remaining principal owed on the outstanding Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B-1 Notes, Class B-2 Notes, or Class B-3 Notes, as the case may be. No
Events of Servicer Termination: Section 6.01 of Servicing Agreement
Section Event Yes/No ---------- ----- ------- 6.01(i) Failue to make payment requried No 6.01(ii) Failue to submit Monthly Statement No 6.01(iii) Failure to Observe Covenants in Servicing Agreement No 6.01(iv) Servicer consents to appointment of custodian, receiver, etc. No 6.01(v) Servicer files a volunatry petition for bankruptcy No 6.01(vi) Order of judgement in excess of $500,000 No 6.01(vii) Petition under bankruptcy laws against Servicer is not stayed, withdrawn or dimissed within 60 daysNo 6.01(viii) Assignment by Servicer to a delegate its rights under Servicing Agreement No 6.01(ix) Servicer Trigger Event as contained in the Insurance Agreement has occurred. No
First Sierra Equipment Contract Trust Series 1997-1 First Sierra Receivables IV, Inc. Monthly Servicer Certificate - Trigger Account Calculations Collection Period Ended September 1, 2001 Gross Charge Event Calculation:
Result -------- Gross Charge Off Ratio Current Period 2.29% Gross Charge Off Ratio Prior Period 0.05% Gross Charge Off Ratio Second Prior Period -0.26% ------ Average of Gross Charge Off Ratio for Three Periods 0.69% Maximum Allowed 2.50%
Gross Charge Off Ratio:
ADCPB of Gross Charge Off Ratio All Defaulted Less Charge Offs/ Contracts Recoveries Charge Offs ADCPB ADCPB -------------- ------------ ------------ ------------- ----------------------- Current Period 720,519.79 662,067.01 58,452.78 30,627,137.70 2.29% Prior Period 115,400.12 114,076.40 1,323.72 33,413,290.74 0.05% Second Prior Period 55,389.38 63,256.65 -7,867.27 35,968,929.05 -0.26%
Delinquency Event Calculation:
Results --------- Delinquency Trigger Ratio Current Period 4.03% Delinquency Trigger Ratio Prior Period 4.43% Delinquency Trigger Ratio Second Prior Period 3.25% ----- Average of Delinquency Trigger Ratios 3.90% Maximum Allowed 7.50%
Delinquency Trigger Ratio:
A B A/B - - --- ADCPB of ADCPB of Contract (greater than) All Contracts Delinquency Trigger 30 Days Past Due As of Month-End Ratio: ----------------------- ----------------- ------------------- ~~Current Period 1,234,816.60 30,627,137.70 4.03% Prior Period 1,480,987.24 33,413,290.74 4.43% Second Prior Period 1,167,654.69 35,968,929.05 3.25%~~ ADCPB Delinquency Ratio -------------- ----------------- ~~Current 29,392,321 95.97% 31-60 Days Past Due 462,036 1.51% 61-90 Days Past Due 312,355 1.02% 91+ Days Past Due 460,426 1.50% ------- ----- TOTAL 30,627,138 100.00%~~
Substitution Limits ADCPB as of Cut-Off Date 226,351,292.85 Maximum Substitution (10% of Initial) 22,635,129.29 Prior month Cumulative ADCPB Substituted 3,197,626.96 Current month ADCPB Substituted - - Cumulative ADCPB Substituted 3,197,626.96