**Exhibit99.2**

 

**OFFICERS’ CERTIFICATE**

 

 

Theundersigned hereby certify that (i) they are, respectively, the duly electedVice President and Controller and Assistant Secretary of John Deere CapitalCorporation, (ii) Exhibit A hereto complies with the requirements of, and isbeing delivered pursuant to, Section 5.06(a) of the Sale and ServicingAgreement (the “Sale and Servicing Agreement”) dated as of April 15, 2004between John Deere Owner Trust 2004, John Deere Receivables, Inc. and JohnDeere Capital Corporation, (iii) Exhibit B hereto complies with therequirements of, and is being delivered pursuant to, Section 5.06(b) of theSale and Servicing Agreement, and (iv) Exhibit C hereto complies with therequirements of, and is being delivered pursuant to, Section 5.04(b) of theSale and Servicing Agreement.

 

Dated at Moline, Illinois this 28th day of January, 2005

 

 
|   | /s/ Charles G. Dahl           |   |
|--------|-------------------------------|--------|
|   | Charles G. Dahl               |
|   | Vice President and Controller |
|   |                          |
|   |                          |
|   | /s/ Paul J. Nagel             |   |
|   | Paul J. Nagel                 |
|   | Assistant Secretary           |

 

11

----

 
| **Schedule  E - Statement to Certificateholders** | ** ** | **EXHIBIT A**     |
|---------------------------------------------------|------------|-------------------|
| **John Deere Owner Trust 2004**                   |       |              |
| **Fiscal Month October 2004**                     | ** ** | **(Page 1 of 2)** |

 

**John Deere Owner Trust 2004**

**Statement to Certificateholders**

 

$205,000,000   Class A-1 1.14% Asset Backed Notes due May13, 2005

$186,000,000   Class A-2 1.68% Asset Backed Notes dueNovember 15, 2006

$185,000,000   Class A-3 2.32% Asset Backed Notes dueDecember 17, 2007

$158,280,000   Class A-4 3.02% Asset Backed Notes due March15, 2011

$18,930,000   Class B 2.90% AssetBacked Notes due March 15, 2011

$3,778,476   Asset BackedCertificates

 
| (1) Amount of principal being paid or  distributed: |   |                                  |   |
|-----------------------------------------------------|--------|---------------------------------------|--------|
|                                                |   |                                  |   |
|                                                | (a)    | A-1 Notes:                            |   | $ | 22,891,964.14 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 111.67 |   |
|                                                |   |                                  |   |   |   |
|                                                | (b)    | A-2 Notes:                            |   | $ | 0.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                                |   |                                  |   |   |   |
|                                                | (c)    | A-3 Notes:                            |   | $ | 0.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                                |   |                                  |   |   |   |
|                                                | (d)    | A-4 Notes:                            |   | $ | 0.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                                |   |                                  |   |   |   |
|                                                | (e)    | B Notes:                              |   | $ | 0.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                                |   |                                  |   |   |   |
|                                                | (f)    | Certificates:                         |   | $ | 0.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                                |   |                                  |   |   |   |
|                                                | (g)    | Total:                                |   | $ | 22,891,964.14 |   |
|                                                |   |                                  |   |   |   |
| (2) Amount of interest being paid or  distributed:  |   |                                  |   |
|                                                |   |                                  |   |   |   |
|                                                | (a)    | A-1 Notes:                            |   | $ | 92,381.81 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 0.45 |   |
|                                                |   |                                  |   |   |   |
|                                                | (b)    | A-2 Notes:                            |   | $ | 260,400.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 1.40 |   |
|                                                |   |                                  |   |   |   |
|                                                | (c)    | A-3 Notes:                            |   | $ | 357,666.67 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 1.93 |   |
|                                                |   |                                  |   |   |   |
|                                                | (d)    | A-4 Notes:                            |   | $ | 398,338.00 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 2.52 |   |
|                                                |   |                                  |   |   |   |
|                                                | (e)    | B Notes:                              |   | $ | 45,747.50 |   |
|                                                |   | per $1,000 original principal amount: |   | $ | 2.42 |   |

 

12

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|                                                                                        | (f)                                | Certificates:                         |                                       | $             | 0.00         |           |
|---------------------------------------------------------------------------------------------|------------------------------------|---------------------------------------|--------------------------------------------|---------------|--------------|----------------|
|                                                                                        |                               | per $1,000 original principal amount: |                                       | $             | 0.00         |           |
|                                                                                        |                               |                                  |                                       |          |         |
|                                                                                        | (g)                                | Total:                                |                                       | $             | 1,154,533.98 |           |
|                                                                                        |                               |                                  |                                       |          |         |
| (3) After giving effect to distributions on  this Payment Date:                             |                               |                                  |                                       |
|                                                                                        |                               |                                  |                                       |          |         |
|                                                                                        | (a)                                | (i)                                   | outstanding principal amount of A-1 Notes: |          | $            | 71,215,141.96  |   |
|                                                                                        |                               | (ii)                                  | A-1 Note Pool Factor:                      |          | 0.3473909    |           |
|                                                                                        |                               |                                  |                                       |          |         |           |
|                                                                                        | (b)                                | (i)                                   | outstanding principal amount of A-2 Notes: |          | $            | 186,000,000.00 |   |
|                                                                                        |                               | (ii)                                  | A-2 Note Pool Factor:                      |          | 1.0000000    |           |
|                                                                                        |                               |                                  |                                       |          |         |           |
|                                                                                        | (c)                                | (i)                                   | outstanding principal amount of A-3 Notes: |          | $            | 185,000,000.00 |   |
|                                                                                        |                               | (ii)                                  | A-3 Note Pool Factor:                      |          | 1.0000000    |           |
|                                                                                        |                               |                                  |                                       |          |         |           |
|                                                                                        | (d)                                | (i)                                   | outstanding principal amount of A-4 Notes: |          | $            | 158,280,000.00 |   |
|                                                                                        |                               | (ii)                                  | A-4 Note Pool Factor:                      |          | 1.0000000    |           |
|                                                                                        |                               |                                  |                                       |          |         |           |
|                                                                                        | (e)                                | (i)                                   | outstanding principal amount of B Notes:   |          | $            | 18,930,000.00  |   |
|                                                                                        |                               | (ii)                                  | B Note Pool Factor:                        |          | 1.0000000    |           |
|                                                                                        |                               |                                  |                                       |          |         |           |
|                                                                                        | (f)                                | (i)                                   | Certificate Balance                        |          | $            | 3,778,476.00   |   |
|                                                                                        |                               | (ii)                                  | Certificate Pool Factor:                   |          | 1.0000000    |           |
|                                                                                        |                               |                                  |                                       |          |         |
| (4) Note Value at end of related Collection  Period:                                        |                               | $                                     | 623,203,617.97                             |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (5) Pool Balance (excluding accrued  interest) at the end of the related Collection Period: |                               | $                                     | 614,552,748.49                             |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (6) Pool Face Amount at the end of the  related Collection Period:                          |                               | $                                     | 677,851,371.90                             |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (7) Amount of Servicing Fee:                                                                |                               | $                                     | 530,967.23                                 |          |
|                                                                                        |                               | per $1,000 original principal amount: |                                       | $             | 0.70         |           |
| Amount of Servicing Fee earned:                                                             |                               | $                                     | 530,967.23                                 |          |
| Amount of Servicing Fee paid:                                                               |                               | $                                     | 530,967.23                                 |          |
| Amount of Servicing Fee shortfall:                                                          |                               | $                                     | 0.00                                       |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (8) Amount of Administration Fee:                                                           |                               | $                                     | 100.00                                     |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (9) Aggregate Purchased Receivables for  Collection Period:                                 |                               | $                                     | 0.00                                       |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (10) Amount in Reserve Account:                                                             |                               | $                                     | 13,247,299.00                              |          |
|                                                                                        | Specified Reserve Account Balance: |                                  | $                                          | 13,247,299.00 |         |
|                                                                                        |                               |                                  |                                       |          |         |
| (11) Scheduled Payments of Receivables 60  days or more past due:                           |                               | $                                     | 591,423.00                                 |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (12) Scheduled Payments of Receivables 60  days or more past due as a % of Pool Balance:    |                               | 0.10                                  | %                                          |
|                                                                                        |                               |                                  |                                       |          |         |
| (13) Face Amount of Receivables 60 days or  more past due:                                  |                               | $                                     | 6,981,095.00                               |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (14) Face Amount of Receivables 60 days or  more past due as a % of the Pool Face Amount:   |                               | 1.03                                  | %                                          |
|                                                                                        |                               |                                  |                                       |          |         |
| (15) Aggregate amount of realized losses  for the collection period                         |                               | $                                     | 965.18                                     |          |
|                                                                                        |                               |                                  |                                       |          |         |
| (16) Aggregate amount of realized losses  since 21-Apr-04                                   |                               | $                                     | 26,008.89                                  |          |

 

13

----

 
| **Schedule  F - Statement to Noteholders** | ** ** | **EXHIBIT B**     |
|--------------------------------------------|------------|-------------------|
| **John Deere Owner Trust 2004**            |       |              |
| **Fiscal Month October 2004**              | ** ** | **(Page 1 of 2)** |

 

**John Deere Owner Trust 2004**

**Statement to Noteholders**

 

$205,000,000   Class A-1 1.14% Asset Backed Notes due May13, 2005

$186,000,000   Class A-2 1.68% Asset Backed Notes dueNovember 15, 2006

$185,000,000   Class A-3 2.32% Asset Backed Notes dueDecember 17, 2007

$158,280,000   Class A-4 3.02% Asset Backed Notes due March15, 2011

$18,930,000   Class B 2.90% AssetBacked Notes due March 15, 2011

$3,778,476  Asset Backed Certificates

 
| (1) Amount of principal being paid on the  Notes: |   |                                  |   |
|---------------------------------------------------|--------|---------------------------------------|--------|
|                                              |   |                                  |   |
|                                              | (a)    | A-1 Notes:                            |   | $ | 22,891,964.14 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 111.67 |   |
|                                              |   |                                  |   |   |   |
|                                              | (b)    | A-2 Notes:                            |   | $ | 0.00 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                              |   |                                  |   |   |   |
|                                              | (c)    | A-3 Notes:                            |   | $ | 0.00 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                              |   |                                  |   |   |   |
|                                              | (d)    | A-4 Notes:                            |   | $ | 0.00 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                              |   |                                  |   |   |   |
|                                              | (e)    | B Notes:                              |   | $ | 0.00 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 0.00 |   |
|                                              |   |                                  |   |   |   |
|                                              | (f)    | Total                                 |   | $ | 22,891,964.14 |   |
|                                              |   |                                  |   |   |   |
| (2) Interest on the Notes                         |   |                                  |   |
|                                              |   |                                  |   |   |   |
|                                              | (a)    | A-1 Notes:                            |   | $ | 92,381.81 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 0.45 |   |
|                                              |   |                                  |   |   |   |
|                                              | (b)    | A-2 Notes:                            |   | $ | 260,400.00 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 1.40 |   |
|                                              |   |                                  |   |   |   |
|                                              | (c)    | A-3 Notes:                            |   | $ | 357,666.67 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 1.93 |   |
|                                              |   |                                  |   |   |   |
|                                              | (d)    | A-4 Notes:                            |   | $ | 398,338.00 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 2.52 |   |
|                                              |   |                                  |   |   |   |
|                                              | (e)    | B Notes:                              |   | $ | 45,747.50 |   |
|                                              |   | per $1,000 original principal amount: |   | $ | 2.42 |   |
|                                              |   |                                  |   |   |   |
|                                              | (f)    | Total                                 |   | $ | 1,154,533.98 |   |

 

14

----

 
| (3) After giving effect to distributions on  current Payment Date:                          |                               |                                  |                                       |
|---------------------------------------------------------------------------------------------|------------------------------------|---------------------------------------|--------------------------------------------|
|                                                                                        |                               |                                  |                                       |   |   |
|                                                                                        | (a)                                | (i)                                   | outstanding principal amount of A-1 Notes: |   | $ | 71,215,141.96 |   |
|                                                                                        |                               | (ii)                                  | A-1 Note Pool Factor:                      |   | 0.3473909 |   |
|                                                                                        |                               |                                  |                                       |   |   |   |
|                                                                                        | (b)                                | (i)                                   | outstanding principal amount of A-2 Notes: |   | $ | 186,000,000.00 |   |
|                                                                                        |                               | (ii)                                  | A-2 Note Pool Factor:                      |   | 1.0000000 |   |
|                                                                                        |                               |                                  |                                       |   |   |   |
|                                                                                        | (c)                                | (i)                                   | outstanding principal amount of A-3 Notes: |   | $ | 185,000,000.00 |   |
|                                                                                        |                               | (ii)                                  | A-3 Note Pool Factor:                      |   | 1.0000000 |   |
|                                                                                        |                               |                                  |                                       |   |   |   |
|                                                                                        | (d)                                | (i)                                   | outstanding principal amount of A-4 Notes: |   | $ | 158,280,000.00 |   |
|                                                                                        |                               | (ii)                                  | A-4 Note Pool Factor:                      |   | 1.0000000 |   |
|                                                                                        |                               |                                  |                                       |   |   |   |
|                                                                                        | (e)                                | (i)                                   | outstanding principal amount of B Notes:   |   | $ | 18,930,000.00 |   |
|                                                                                        |                               | (ii)                                  | B Note Pool Factor:                        |   | 1.0000000 |   |
|                                                                                        |                               |                                  |                                       |   |   |   |
|                                                                                        | (f)                                | (i)                                   | Certificate Balance                        |   | $ | 3,778,476.00 |   |
|                                                                                        |                               | (ii)                                  | Certificate Pool Factor:                   |   | 1.0000000 |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (4) Note Value at the end of the related  Collection Period:                                |                               | $                                     | 623,203,617.97                             |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (5) Pool Balance (excluding accrued  interest) at the end of the related Collection Period: |                               | $                                     | 614,552,748.49                             |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (6) Pool Face Amount at the end of the  related Collection Period:                          |                               | $                                     | 677,851,371.90                             |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (7) Amount of Servicing Fee earned:                                                         |                               | $                                     | 530,967.23                                 |   |
|                                                                                        |                               | per $1,000 original principal amount: |                                       | $ | 0.70 |   |
| Amount of Servicing Fee earned:                                                             |                               | $                                     | 530,967.23                                 |   |
| Amount of Servicing Fee paid:                                                               |                               | $                                     | 530,967.23                                 |   |
| Amount of Servicing Fee shortfall:                                                          |                               | $                                     | 0.00                                       |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (8) Amount of Administration Fee:                                                           |                               | $                                     | 100.00                                     |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (9) Aggregate Purchased Receivables for  Collection Period:                                 |                               | $                                     | 0.00                                       |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (10) Amount in Reserve Account:                                                             |                               | $                                     | 13,247,299.00                              |   |
|                                                                                        | Specified Reserve Account Balance: |                                  | $                                          | 13,247,299.00 |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (11) Scheduled Payments of Receivables 60  days or more past due:                           |                               | $                                     | 591,423.00                                 |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (12) Scheduled Payments of Receivables 60  days or more past due as a % of Pool Balance:    |                               | 0.10                                  | %                                          |
|                                                                                        |                               |                                  |                                       |   |   |
| (13) Face Amount of Receivables 60 days or  more past due:                                  |                               | $                                     | 6,981,095.00                               |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (14) Face Amount of Receivables 60 days or  more past due as a % of the Pool Face Amount:   |                               | 1.03                                  | %                                          |
|                                                                                        |                               |                                  |                                       |   |   |
| (15) Aggregate amount of realized losses  for the collection period                         |                               | $                                     | 965.18                                     |   |
|                                                                                        |                               |                                  |                                       |   |   |
| (16) Aggregate amount of realized losses  since 21-Apr-04                                   |                               | $                                     | 26,008.89                                  |   |

 

15

----

 
| **Schedule  G - Servicer’s Certificate** | ** ** | **EXHIBIT C**     |
|-----------------------------------------------|------------|-------------------|
| **John Deere Owner Trust 2004**               |       |              |
| **Fiscal Month October 2004**                 | ** ** | **(Page 1 of 3)** |

 

**John Deere Owner Trust 2004**

**Servicer’s Certificate**

 

$205,000,000   Class A-1 1.14%Asset Backed Notes due May 13, 2005

$186,000,000   Class A-2 1.68%Asset Backed Notes due November 15, 2006

$185,000,000   Class A-3 2.32%Asset Backed Notes due December 17, 2007

$158,280,000   Class A-4 3.02%Asset Backed Notes due March 15, 2011

$18,930,000   Class B 2.90% Asset Backed Notes due March15, 2011

$3,778,476   Asset Backed Certificates

 
| (1) Servicing Fee:                                                                             |                                                                     | $      | 530,967.23    |          |
|------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------|--------|---------------|---------------|
|                                                                                           | Servicing Fee earned:                                                    |   | $             | 0.00          |   |
|                                                                                           | Servicing Fee paid:                                                      |   | $             | 530,967.23    |   |
|                                                                                           | Servicing Fee shortfall:                                                 |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (2) Administration Fee:                                                                        |                                                                     | $      | 100.00        |          |
|                                                                                           | Administration Fee Shortfall:                                            |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (3) Total Distribution Amount:                                                                 |                                                                     | $      | 25,474,901.44 |          |
|                                                                                           |                                                                     |   |          |          |
| (4) Noteholders’ Interest Distributable  Amount applicable to A-1 Notes:                  |                                                                     | $      | 92,381.81     |          |
|                                                                                           | Noteholders’ Interest Carryover Shortfall  applicable to A-1 Notes: |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (5) Noteholders’ Interest Distributable  Amount applicable to A-2 Notes:                  |                                                                     | $      | 260,400.00    |          |
|                                                                                           | Noteholders’ Interest Carryover Shortfall  applicable to A-2 Notes: |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (6) Noteholders’ Interest Distributable  Amount applicable to A-3 Notes:                  |                                                                     | $      | 357,666.67    |          |
|                                                                                           | Noteholders’ Interest Carryover Shortfall  applicable to A-3 Notes: |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (7) Noteholders’ Interest Distributable  Amount applicable to A-4 Notes:                  |                                                                     | $      | 398,338.00    |          |
|                                                                                           | Noteholders’ Interest Carryover Shortfall  applicable to A-4 Notes: |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (8) Noteholders’ Interest Distributable  Amount applicable to B Notes:                    |                                                                     | $      | 45,747.50     |          |
|                                                                                           | Noteholders’ Interest Carryover Shortfall  applicable to B Notes:   |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (9) Noteholders’ Interest Distributable  Amount deposited into Note Distribution Account: |                                                                     | $      | 1,154,533.98  |          |
|                                                                                           | Noteholders’ Interest Carryover Shortfall:                          |   | $             | 0.00          |   |
|                                                                                           |                                                                     |   |          |          |
| (10) A-1 Noteholders’ Monthly Principal  Distributable Amount:                            |                                                                     | $      | 22,891,964.14 |          |
|                                                                                           | % of Principal Distribution Amount  applicable to A-1 Noteholders:       |   | 100.00        | %             |
|                                                                                           | A-1 Noteholders’ Principal Carryover  Shortfall:                    |   | $             | 0.00          |   |
|                                                                                           | A-1 Noteholders’ Principal Distributable  Amount:                   |   | $             | 22,891,964.14 |   |
|                                                                                           |                                                                     |   |          |          |
| (11) A-2 Noteholders’ Monthly Principal  Distributable Amount:                            |                                                                     | $      | 0.00          |          |
|                                                                                           | % of Principal Distribution Amount  applicable to A-2 Noteholders:       |   | 0.00          | %             |
|                                                                                           | A-2 Noteholders’ Principal Carryover  Shortfall:                    |   | $             | 0.00          |   |
|                                                                                           | A-2 Noteholders’ Principal Distributable  Amount:                   |   | $             | 0.00          |   |

 

16

----

 
| (12) A-3 Noteholders’ Monthly Principal  Distributable Amount:                                 |                                                                         | $      | 0.00           |           |
|-----------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|--------|----------------|----------------|
|                                                                                                | % of Principal Distribution Amount  applicable to A-3 Noteholders:           |   | 0.00           | %              |
|                                                                                                | A-3 Noteholders’ Principal Carryover  Shortfall:                        |   | $              | 0.00           |   |
|                                                                                                | A-3 Noteholders’ Principal Distributable  Amount:                       |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (13) A-4 Noteholders’ Monthly Principal Distributable  Amount:                                 |                                                                         | $      | 0.00           |           |
|                                                                                                | % of Principal Distribution Amount  applicable to A-4 Noteholders:           |   | 0.00           | %              |
|                                                                                                | A-4 Noteholders’ Principal Carryover  Shortfall:                        |   | $              | 0.00           |   |
|                                                                                                | A-4 Noteholders’ Principal Distributable  Amount:                       |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (14) B Noteholders’ Monthly Principal  Distributable Amount:                                   |                                                                         | $      | 0.00           |           |
|                                                                                                | % of Principal Distribution Amount  applicable to B Noteholders:             |   | 0.00           | %              |
|                                                                                                | B Noteholders’ Principal Carryover  Shortfall:                          |   | $              | 0.00           |   |
|                                                                                                | B Noteholders’ Principal Distributable  Amount:                         |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (15) Noteholders’ Principal Distribution  Amount deposited into Note Distribution Account:     |                                                                         | $      | 22,891,964.14  |           |
|                                                                                                | Noteholders’ Principal Carryover Shortfall:                             |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (16) Noteholders’ Distributable Amount:                                                        |                                                                         | $      | 24,046,498.12  |           |
|                                                                                                |                                                                         |   |           |           |
| (17) Amount to be withdrawn from the Reserve  Account and deposited into Note Distribution Account: |                                                                         | $      | 0.00           |           |
|                                                                                                | Interest Amount included above:                                              |   | $              | 0.00           |   |
|                                                                                                | Principal Amount included above:                                             |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (18) Deposit to Reserve Account from  Collection Account to increase the amount                     |                                                                         |   |           |
|                                                                                                | on deposit in the Reserve Account to the  Specified Reserve Account Balance: |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (19) Certificateholders’ Interest  Distributable Amount:                                       |                                                                         | $      | 0.00           |           |
|                                                                                                | Certificateholders’ Interest Carryover  Shortfall:                      |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (20) Certificateholders’ Principal Distributable  Amount applicable to current period          |                                                                         | $      | 0.00           |           |
|                                                                                                | % of Principal Distribution Amount  applicable to Certificate holders        |   | 0.00           | %              |
|                                                                                                | Certificateholders’ Principal Carryover  Shortfall:                     |   | $              | 0.00           |   |
|                                                                                                | Certificateholders’ Principal Distributable  Amount:                    |   | $              | 0.00           |   |
|                                                                                                |                                                                         |   |           |           |
| (21) Certificateholders’ Distributable  Amount:                                                |                                                                         | $      | 0.00           |           |
|                                                                                                |                                                                         |   |           |           |
| (22) Deposit to Reserve Account (from  excess collections):                                         |                                                                         | $      | 897,336.09     |           |
|                                                                                                |                                                                         |   |           |           |
| (23) Specified Reserve Account Balance  (after all distributions and adjustments) :                 |                                                                         | $      | 13,247,299.00  |           |
|                                                                                                |                                                                         |   |           |           |
| (24) Reserve Account Balance over the  Specified Reserve Account Balance                            |                                                                         |   |           |
|                                                                                                | (before any distribution of excess):                                         |   | $              | 14,144,635.09  |   |
|                                                                                                |                                                                         |   |           |           |
| (25) Excess Reserve Account Balance  Distributable to Seller (5.05(b)(i) or (ii)):                  |                                                                         | $      | 897,336.09     |           |
|                                                                                                |                                                                         |   |           |           |
| (26) Note Value as of the end of the  related Collection Period                                     |                                                                         | $      | 623,203,617.97 |           |
|                                                                                                |                                                                         |   |           |           |
| (27) Pool Balance (excluding Accrued  Interest) as of close of business on the last day of          |                                                                         |   |           |
|                                                                                                | the related Collection Period:                                               |   | $              | 614,552,748.49 |   |
|                                                                                                |                                                                         |   |           |           |
| (28) Number of Accounts at the end of the  related Collection Period                                |                                                                         | 21,153 |           |

 

17

----

 
| (29) After giving effect to all  distributions on such Payment Date:               |   |      |           |
|------------------------------------------------------------------------------------|--------|-----------|----------------|
| Outstanding Principal Balance of A-1 Notes:                                        |   | $         | 71,215,141.96  |   |
| A-1 Note Pool Factor:                                                              |   | 0.3473909 |           |
|                                                                               |   |      |           |   |
| Outstanding Principal Balance of A-2 Notes:                                        |   | $         | 186,000,000.00 |   |
| A-2 Note Pool Factor:                                                              |   | 1.0000000 |           |
|                                                                               |   |      |           |   |
| Outstanding Principal Balance of A-3 Notes:                                        |   | $         | 185,000,000.00 |   |
| A-3 Note Pool Factor:                                                              |   | 1.0000000 |           |
|                                                                               |   |      |           |   |
| Outstanding Principal Balance of A-4 Notes:                                        |   | $         | 158,280,000.00 |   |
| A-4 Note Pool Factor:                                                              |   | 1.0000000 |           |
|                                                                               |   |      |           |   |
| Outstanding Principal Balance of B Notes:                                          |   | $         | 18,930,000.00  |   |
| B Note Pool Factor:                                                                |   | 1.0000000 |           |
|                                                                               |   |      |           |   |
| Outstanding Principal Balance of the  Certificates:                                |   | $         | 3,778,476.00   |   |
| Certificate Pool Factor:                                                           |   | 1.0000000 |           |
|                                                                               |   |      |           |   |
| (30) Aggregate Purchased Receivables for  related Collection Period:               |   | $         | 0.00           |   |
|                                                                               |   |      |           |   |
| (31) Reserve Account Balance after giving  effect to all distributions:            |   | $         | 13,247,299.00  |   |
|                                                                               |   |      |           |   |
| (32) Specified Reserve Account Balance  (after all distributions and adjustments): |   | $         | 13,247,299.00  |   |
|                                                                               |   |      |           |   |
| (33) Aggregate amount of realized losses  for the collection period                |   | $         | 965.18         |   |
|                                                                               |   |      |           |   |
| (34) Aggregate amount of realized losses  since 21-Apr-04                          |   | $         | 26,008.89      |   |

 

18

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