ZIEGLER COLLATERALIZED SECURITIES, INC.,
Issuer
and
M&I FIRST NATIONAL BANK,
Trustee
NINTH SUPPLEMENTAL INDENTURE
Dated as of May 1, 1996
to
INDENTURE
Dated as of December 1, 1991, as amended
CREATING $5,000,000 PRINCIPAL AMOUNT
COLLATERALIZED BONDS, SERIES 7
NINTH SUPPLEMENTAL INDENTURE, dated as of May 1, 1996, between ZIEGLER
COLLATERALIZED SECURITIES, INC., a Wisconsin corporation (together with its
successors as provided in the Indenture referred to below, the "Issuer"), and
M&I FIRST NATIONAL BANK, a national banking association with its principal
office located in West Bend, Wisconsin (together with its successor as provided
in the Indenture referred to below, the "Trustee"), as trustee under an
Indenture dated as of December 1, 1991, as amended (the "Indenture").
                         PRELIMINARY STATEMENT
          Section 10.01 of the Indenture provides, among other things, that the
Issuer, when authorized by its Board of Directors, and the Trustee may at any
time and from time to time enter into an indenture supplemental to the
Indenture to authorize a new Series of Bonds, and to specify certain terms of
each such new Series of Bonds.  The Board of Directors of the Issuer has duly
authorized the execution and delivery of this Ninth Supplemental Indenture and
the creation of a new Series of Bonds with an aggregate principal amount of
$5,000,000 to be known as the Collateralized Bonds, Series 7 (the "Series 7
Bonds"), and the Issuer and the Trustee are executing and delivering this Ninth
Supplemental Indenture in order to provide for, among other things, the Series
7 Bonds.
                              ARTICLE ONE
                          The Series 7 Bonds
                           GRANTING CLAUSES
          The Issuer hereby grants to the Trustee, in trust as provided in the
Indenture, for the exclusive benefit of the Holders of the Series 7 Bonds, all
of the Issuer's right, title and interest in and to (a) the Pooled Assets
described in Schedule A to this Ninth Supplemental Indenture, which the Issuer
is delivering to the Trustee herewith, (b) the Equipment leased and/or financed
pursuant to the Pooled Assets described in Schedule A subject to any option of
the respective Lessors/Debtors thereunder to purchase or prepay the principal
on such Equipment, (c) the Principal and Interest Payment Account for the
Series 7 Bonds, and (d) all proceeds, of every kind and nature whatsoever,
including, without limitation, proceeds of proceeds, and the conversion,
voluntary or involuntary, of any of the foregoing into cash or other liquidated
property, to secure the Series 7 Bonds equally and ratably without prejudice,
priority or distinction between any Series 7 Bond and any other Series 7 Bond
by reason of difference in time of issuance or otherwise, and to secure the
payment of the principal of, and interest on, the Series 7 Bonds in accordance
with their terms, all of the sums payable under the Indenture of this Ninth
Supplemental Indenture with respect to the Series 7 Bonds and compliance with
the provisions of the Indenture and this Ninth Supplemental Indenture with
respect to the Series 7 Bonds, all as provided in the Indenture and this Ninth
Supplemental Indenture.
Section 1.     Designation.
          The Series 7 Bonds shall be designated as Collateralized Bonds,
Series 7.
Section 2.     Form of Series 7 Bonds.
          The Series 7 Bonds shall be in substantially the following form:
                        [FORM OF FACE OF BOND]
$________                                                  No. ________
                ZIEGLER COLLATERALIZED SECURITIES, INC.
                  ____% COLLATERALIZED BOND, SERIES 7
    Stated   First Interest  Interest Payable    Issue
   Maturity   Payment Date   on the 1st Day of   Date        CUSIP
          Ziegler Collateralized Securities, Inc., a corporation duly organized
and existing under the laws of the State of Wisconsin (herein referred to as
the "Issuer"), for value received, hereby promises to pay to
____________________ or registered assigns, the principal sum of
____________________ Dollars on or prior to the date set forth above (the
"Stated Maturity") and to pay interest on the unpaid portion of said principal
sum from the date hereof, through the day immediately preceding the date on
which such principal sum becomes due and payable, on the 1st day of the months
set forth above in each year, and to pay interest on any overdue principal and
on overdue interest, at the rate per annum specified in the title of this Bond.
          The first such payment of interest will be made on the first interest
payment date set forth above.  Except as herein otherwise provided with respect
to interest payable on the date the principal of this Bond becomes due and
payable (whether at Stated Maturity, by redemption or otherwise), interest on
this Bond shall be payable on each Semiannual Payment Date through the day
immediately preceding each such Semiannual Payment Date.  The interest so
payable on any Semiannual Payment Date, and any redemption of Bonds that may
be made on any Redemption Date, will, as provided in the Indenture referred to
on the reverse hereof, be paid to the Person in whose name this Bond (or one
or more Predecessor Bonds) is registered on the Regular Record Date for such
Semiannual Payment Date or Redemption Date, which shall be the close of
business on the fifteenth day of the calendar month preceding that in which
such Semiannual Payment Date or Redemption Date occurs (whether or not a
Business Day).  Any such redemption not made on the Redemption Date or interest
not so punctually paid or duly provided for (excluding interest the payment of
which is deferred pursuant to the proviso set forth in the first paragraph of
this Bond) shall forthwith cease to be payable to the registered Holder on the
Regular Record Date, and may be paid to the Person in whose name this Bond (or
one or more Predecessor Bonds) is registered on a Special Record Date for the
payment of such defaulted redemption proceeds and interest to be fixed by the
Trustee, notice whereof shall be given to Bondholders not less than 10 days
prior to such Special Record Date, or may be paid, at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which the Bonds may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in said Indenture.
          The principal of and interest on this Bond are payable in such coin
or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts, at the office or agency of the
Issuer designated for such purpose in the United States of America; provided
that interest may be paid, at the option of the Issuer, by check mailed to the
Person entitled thereto at his address as it appears on the Bond Register.
          Reference is made to the further provisions of this Bond set forth
on the reverse hereof, which shall have the same effect as though fully set
forth at this place.
          Unless the certificate of authentication hereon has been executed by
the Trustee by manual signature, this Bond shall not be entitled to any benefit
under the Indenture, or be valid or obligatory for any purpose.
          IN WITNESS WHEREOF, ZIEGLER COLLATERALIZED SECURITIES, INC. has
caused this instrument to be signed, manually or in facsimile, by its President
or a Vice President and by its Secretary or an Assistant Secretary and a
facsimile of its corporate seal to be imprinted hereon.
          Dated:  May 1, 1996
                          ZIEGLER COLLATERALIZED SECURITIES, INC.
[SEAL]
                          By:
                                Lynn R. Van Horn, President
Attest:
Janine R. Schmidt, Secretary
           [FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION]
This is one of the Series 7 Bonds referred to in the within-mentioned
Indenture.
                          M&I FIRST NATIONAL BANK, Trustee
                          Authorized Officer
                       [FORM OF REVERSE OF BOND]
                          COLLATERALIZED BOND
          This Bond is one of a duly authorized issue of Bonds of the Issuer,
designated as its Collateralized Bonds (herein called the "Bonds"), issued and
to be issued in one or more Series, and is part of the Series 7 Bonds
designated on the face hereof (herein called the "Bonds of this Series 7"), all
issued and to be issued under an Indenture dated as of December 1, 1991, as
amended (herein called the "Indenture"), between the Issuer and M&I First
National Bank (the "Trustee"), which term includes any successor Trustee under
the Indenture, to which Indenture and all indentures supplemental thereto
(including the indenture supplemental thereto which authorized the Bonds of
this Series 7) reference is hereby made for a statement of the respective
rights thereunder of the Issuer, the Trustee and the Holders of the Bonds, and
the terms upon which the Bonds are, and are to be, authenticated and delivered. 
All terms used in this Bond which are defined in the Indenture shall have the
meanings assigned to them in the Indenture.
          As provided in the Indenture, the Bonds are issuable in Series which
may vary as in the Indenture provided or permitted.  All Bonds of each Series
are equally and ratably secured to the extent provided by the supplemental
indenture authorizing such Series.  This Bond is one of the Bonds of Series 7
specified in its title.
          If no Event of Default as defined in the Indenture shall have
occurred and be then continuing, the Issuer, at its option, may redeem the
Outstanding Bonds of this Series 7 in whole or in part, and if in part, by lot
in such manner as may be determined by the Trustee, on or after November 1,
1998 at a Redemption Price equal to 100% of the principal amount of the Bonds
to be redeemed (plus interest accrued and unpaid on such Bonds to but not
including the Redemption Date).
          The Bonds of this Series 7 are subject to Mandatory Redemption at any
time in whole or in part, and if in part, by lot in such manner as may be
determined by the Trustee at a Redemption Price equal to 100% of the principal
amount of the Bonds to be redeemed (plus interest accrued and unpaid on such
Bonds to but not including the Redemption Date) to the extent of any proceeds
received by the Issuer as a result of the purchase of any Defaulted Pooled
Asset by the Servicer therefor or the Guarantor as soon as practicable
following the receipt of such proceeds by the Issuer.
          The Bonds of this Series 7 are subject to Mandatory Redemption in
whole or in part, and if in part, by lot in such manner as may be determined
by the Trustee at the Redemption Prices (expressed as percentages of the
principal amount of the Bonds of this Series 7 to be redeemed) as set forth
below (plus interest accrued and unpaid on such Bonds to, but not including,
the Redemption Date) to the extent of any proceeds received by the Issuer as
a result of the early termination of any Pooled Asset and the purchase of the
related Equipment by the Lessee or Debtor thereunder as soon as practicable
following the receipt of such proceeds by the Issuer.
                Redemption Period          Redemption Price
          Prior to May 31, 1998                  101%
          On or after May 31, 1998               100%
          If an Event of Default as defined in the Indenture shall occur and
be continuing, the principal of all the Bonds, or of all the Bonds of any
Series, may become or be declared due and payable in the manner and with the
effect provided in the Indenture.
          As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Bond may be registered on the Bond
Register of the Issuer, upon surrender of this Bond for registration of
transfer at the office or agency of the Issuer in the United States of America,
duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Issuer and the Trustee duly executed by, the Holder hereof
or his attorney duly authorized in writing, and thereupon one or more new Bonds
of the same Series and maturity, of authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or
transferees.
          Prior to the due presentment for registration of transfer of this
Bond, the Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the Person in whose name this Bond is registered as the owner hereof for
the purpose of receiving payment as herein provided and for all other purposes,
whether or not this Bond be overdue, and neither the Issuer, the Trustee nor
any such agent shall be affected by notice to the contrary.
          The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Holders of the Bonds under the Indenture at any
time by the Issuer with the consent of the Holders of a majority in aggregate
principal amount of Bonds at the time Outstanding (as defined in the
Indenture), in case Outstanding Bonds of all Series are to be affected, or with
the consent of the Holders of a majority in aggregate principal amount of the
Bonds at the time Outstanding of each Series to be affected, in case one or
more, but less than all, of the Series of Bonds then Outstanding are to be
affected.  The Indenture also contains provisions permitting the Holders of
specified percentages in aggregate principal amount of the Bonds at the time
Outstanding, and of Bonds at the time Outstanding of each Series to be affected
in case one or more, but less than all, such Series are to be affected, on
behalf of the Holders of all the Bonds, to waive compliance by the Issuer with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences.  Any such consent or waiver by the Holder of
this Bond shall be conclusive and binding upon such Holder and upon all future
Holders of this Bond and of any Bond issued upon the registration of transfer
hereof or in exchange therefor or in lieu hereof whether or not notation of
such consent or waiver is made upon this Bond.
          The term "Issuer" as used in this Bond includes any successor under
the Indenture.
          The Bonds are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof, as provided in the
Indenture and subject to certain limitations therein set forth.  The Bonds are
exchangeable for a like aggregate principal amount of Bonds of the same Series
and maturity of a different authorized denomination, as requested by the Holder
surrendering same.
          No reference herein to the Indenture and no provision of this Bond
or of the Indenture shall alter or impair the obligation of the Issuer, which
is absolute and unconditional, to pay the principal of and interest on this
Bond at the times, place and rate, and in the coin or currency, herein
prescribed.
Section 3.     Aggregate Principal Amount.
          The aggregate principal amount of Series 7 Bonds that may be
authenticated and delivered under the Indenture and this Ninth Supplemental
Indenture is limited to $5,000,000 except for Bonds authenticated and delivered
upon registration of, transfer of, or in exchange for, or in lieu of, other
Series 7 Bonds pursuant to Sections 3.04, 3.05, 3.06, 10.06 or 12.04 of the
Indenture.
Section 4.     Maturity and Interest Rates.
          The Series 7 Bonds shall mature and shall bear interest as follows:
             Stated Maturity         Amount        Interest Rate
          May 1, 1997              $  910,000          6.00%
          November 1, 1997         $  640,000          6.25%
          May 1, 1998              $  635,000          6.25%
          November 1, 1998         $  570,000          6.50%
          May 1, 1999              $  570,000          6.50%
          November 1, 1999         $  600,000          6.75%
          May 1, 2000              $  600,000          7.00%
          November 1, 2000         $  475,000          7.00%
Section 5.     Semiannual Payment Dates.
          With respect to the Series 7 Bonds, the term Semiannual Payment Dates
shall mean May 1 and November 1.
Section 6.     Redemption of Series 7 Bonds.
          The Series 7 Bonds shall be subject to mandatory and optional
redemption prior to maturity, to the extent specifically set forth in the form
of Series 7 Bond set forth in this Ninth Supplemental Indenture.
Section 7.     Representations and Warranties.
          The Issuer hereby makes the following representations and warranties
with respect to the Pooled Assets set forth on Schedule A hereto, in each case
to the best of its knowledge:
          a.   The information set forth in the Schedule of Pooled
    Assets is true and correct in all material respects at the date or
    dates respecting which such information is furnished;
          b.   Each Pooled Asset by its terms permits the Lessor/Debtor
    to assign such Pooled Asset and its rights and interests thereunder
    without the consent of the Lessee/Debtor thereunder;
          c.   As of the date of execution and delivery of this
    Supplemental Indenture, each Pooled Asset is in full force and effect
    and the Issuer has granted to the Trustee as security for the Bonds
    a security interest in the Issuer's right, title and interest in and
    to such Pooled Asset and the related Equipment which security
    interest has been perfected by filing pursuant to the Uniform
    Commercial Code of Wisconsin and with respect to each item of the
    Equipment, a filing pursuant to the Uniform Commercial Code of the
    jurisdiction where such item of Equipment is located and where the
    principal place of business of the Lessee/Debtor under the related
    Pooled Asset is located, provided that in general no fixture filings
    have been made with respect to the Equipment;
          d.   The Issuer acquired the Pooled Assets in good faith,
    without notice of any adverse claim;
          e.   As of the date of execution and delivery of this
    Supplemental Indenture, the Issuer is the sole legal owner of each
    Pooled Asset free and clear of all liens, security interests and
    other encumbrances (except for a security interest which secures the
    Series 7 Bonds or indebtedness of the Issuer which is subordinate to
    the prior payment of principal and interest on the Series 7 Bonds and
    which is subordinate to the security interest securing the Series 7
    Bonds (a "Subordinate Security Interest")) and the Issuer or the
    Lessee or Debtor under such Pooled Asset is the sole owner of the
    related Equipment, and immediately upon the transfer and assignment
    herein contemplated (and assuming that the Trustee complies with its
    obligations under the Indenture and this Supplemental Indenture and
    has not in its individual capacity taken any action to grant any
    interest in any Pooled Asset to any other Person), except for a
    Subordinate Security Interest, the Trustee shall have good title to,
    and will be the sole legal owner of, each Pooled Asset free and clear
    of all liens, security interests and other encumbrances and will have
    a valid perfected security interest in the Issuer's right, title and
    interest to the related Equipment;
          f.   As of the date of execution and delivery of this
    Supplemental Indenture, the terms of each Pooled Asset have not been
    waived, altered or modified in any material respect, except by
    written instruments included in the Pooled Asset File;
          g.   As of the date of execution and delivery of this
    Supplemental Indenture, insurance policies are in effect which
    provide coverage against loss of or damage to each item of Equipment
    in an amount at least equal to the full insurable value thereof; and
          h.   The aggregate scheduled rental payments under the Pooled
    Assets securing Series 7 Bonds during the six-month periods ending on
    each Supplemental Payment Date for Bonds of such Series to and
    including the final Stated Maturity of the Series 7 Bonds after
    deducting all Servicer's fees and Trustee's fees respecting such
    Pooled Assets and Series 7 Bonds accruing during such period equal or
    exceed the principal of and interest on the Series 7 Bonds which are
    due and payable on such Semiannual Payment Date.
It is understood and agreed that the representations and warranties set forth
in this Supplemental Indenture (with respect to representations and warranties
which are as of a particular date, in each case as of such date) shall survive
delivery of the respective Pooled Asset Files to the Trustee and shall continue
throughout the terms of the Indenture and this Supplemental Indenture.
Section 8.     Ratio of Net Investment in Pooled Assets to Outstanding
               Principal Amount of Series 7 Bonds.
          The Issuer covenants and agrees that so long as any Series 7 Bonds
are Outstanding, the Issuer's aggregate net investment (determined in
accordance with generally accepted accounting principles) in the Pooled Assets
securing the Series 7 Bonds together with any cash held by the Trustee as
collateral for the Series 7 Bonds (excluding cash held in an amount equal to
the then accrued but unpaid interest on the Series 7 Bonds) shall at all times
be in an amount not less than 115% of the aggregate principal amount of the
Series 7 Bonds then Outstanding.
                              ARTICLE TWO
                             Miscellaneous
Section 1.     Terms Defined in the Indenture.
          All terms used in this Ninth Supplemental Indenture which are defined
in the Indenture, either directly or by reference therein, have the meanings
assigned to them therein, except to the extent such terms are defined in this
Ninth Indenture or the context clearly requires otherwise.
Section 2.     Ratification of Indenture.
          As supplemented and amended by this Ninth Supplemental Indenture, the
Indenture as previously amended is in all respects ratified and confirmed and
the Indenture as previously amended and as so supplemented by this Ninth
Supplemental Indenture shall be read, taken and construed as one and the same
instrument.
Section 3.     Counterparts.
          This Ninth Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all of such counterparts shall together constitute but one and the same
instrument.
          IN WITNESS WHEREOF, the Issuer and the Trustee have caused this Ninth
Supplemental Indenture to be duly executed by their respective officers
thereunto duly authorized and their respective seals duly attested to be
hereunto affixed all as of the day and year first above written.
                          ZIEGLER COLLATERALIZED SECURITIES, INC.
[SEAL]
                          By:   /s/ Lynn R. Van Horn 
                                Lynn R. Van Horn, President
Attest:
/s/ Janine R. Schmidt
Janine R. Schmidt, Secretary
                          M&I FIRST NATIONAL BANK
                          West Bend, Wisconsin,
                                as Trustee
[SEAL]
                          By    /s/ Roger T. Stephenson
                          Title Executive Vice President               
Attest:
/s/ M. L. Hron
Title Vice President            
      Acknowledgement of Ziegler Collateralized Securities, Inc.
STATE OF WISCONSIN        )
                          ) SS.
COUNTY OF WASHINGTON      )
          On this _____ day of May, 1996, before me, a Notary Public in and for
said county, the undersigned officer, personally appeared L. R. Van Horn and
J. R. Schmidt, severally acknowledged themselves to be the President and
Secretary, respectively, of ZIEGLER COLLATERALIZED SECURITIES, INC., a
Wisconsin corporation, and that they, as such officers, being authorized so to
do, executed the foregoing instrument for the purposes therein contained, by
signing the name of the corporation by themselves as such President and
Secretary, respectively.
          IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
                                                                       
                          Notary Public, Washington County, Wisconsin
[NOTARIAL SEAL]           My Commission expires:                     
              Acknowledgement of M&I First National Bank
STATE OF WISCONSIN        )
                          ) SS.
COUNTY OF WASHINGTON      )
          On this ______ day of May, 1996, before me, a Notary Public in and
for said county, appeared R. T. Stephenson and M. F. Hron of M&I FIRST NATIONAL
BANK, West Bend, Wisconsin, Trustee, to me personally known, who being by me
duly sworn, did say that they are the Executive Vice President and Vice
President, respectively, of M&I FIRST NATIONAL BANK, West Bend, Wisconsin, and
that the seal affixed to said instrument is the corporate seal of the said
Association and that said instrument was signed and sealed on behalf of the
said Association by authority of its Board of Directors, and that the said R.
T. Stephenson and M. F. Hron acknowledged said instrument to be the free act
and deed of said Association.
          IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
                                                                      
                          Notary Public, Washington County, Wisconsin
[NOTARIAL SEAL]           My Commission expires:                    
                                   APPENDIX A
                          DESCRIPTION OF POOLED ASSETS
                                    SECURING
                                 SERIES 7 BONDS
<TABLE>
<CAPTION>
                                                                                                                         
OPTION TO
                                                                                                                         
PURCHASE
                                                                                                  AGGREGATE    
PURCHASE  EQUIPMENT
                                                                                                   PAYMENTS       
PRICE  OR PREPAY
                                                                                                  FROM DATE   
(ISSUER'S DEBT PRIOR
                                        DESCRIPTION                                             OF PURCHASE 
INITIAL NET  TO END OF
                              DATE OF   OF                      TYPE OF         MONTHLY           TO
END OF  INVESTMENT)  CONTRACT
LESSEE                       CONTRACT   EQUIPMENT            CONTRACT (3)<F8>  
PAYMENT          CONTRACT OF CONTRACT TERM (1)<F6>
-------                     ---------   ----------           ------------    ----------         -----------  ----------- 
---------
<S>                            <C>      <C>                        <C>        <C>              
<C>          <C>          <C>
Cardiology Associates of       8/1/95   Miscellaneous Medical      L          $3,865.77        
$193,288.50  $162,450.69  None
Lubbock, P.A.                           and Office
Lubbock, TX                             Equipment

Cardiology Associates of       1/1/96   Miscellaneous Medical      L          $5,886.25        
$323,743.75  $265,048.30  None
Lubbock, P.A.                           and Office
Lubbock, TX                             Equipment

Cardiology Associates of      11/1/95   Miscellaneous Medical      L          $2,061.06        
$109,236.18   $90,866.55  None
Lubbock, P.A.                           and Office
Lubbock, TX                             Equipment

Cardiology Consultants, P.A.   5/1/95   2 Sopha DS-7 Gamma         L          $8,596.66        
$507,202.94  $398,941.61  None
d/b/a Cardiac Diagnostic                Cameras
Center
Newark, DE

Information Storage           10/1/95   2-142A Memory Test         L          $2,207.20         
$88,288.00   $77,942.78  None
Devices, Inc.                           Systems
San Jose, CA

Information Storage            1/1/96   3-142A Memory Test         L          $3,312.52        
$142,438.36  $124,524.41  None
Devices, Inc.                           Systems
San Jose, CA

Information Storage            1/1/96   2-142A Memory Test         L          $3,625.02        
$155,875.86  $136,846.26  None
Devices, Inc.                           Systems
San Jose, CA

Information Storage            4/1/96   3-142A Memory Test         L          $3,597.58        
$165,488.68  $144,750.80  None
Devices, Inc.                           Systems
San Jose, CA

St. Francis Medical           12/1/95   Datex AS/3 Monitoring      L          $3,342.98        
$180,520.92  $151,875.17  None
Center West                             System
Ewa Beach, HI                           

Bradley County                 3/1/96   Miscellaneous Medical      L          $9,741.33        
$555,255.81  $469,898.33  None
Memorial Hospital                       Equipment
Cleveland, TN

Community Memorial           12/10/95   Hewlett Packard Sonos      L          $3,688.00        
$199,152.00  $158,904.31  None
Hospital of Menomonee                   Model 2500
Falls, Inc.
Menomonee Falls, WI

Fayetteville Diagnostic       1/10/96   Hewlett Packard Computer   L         $11,774.29        
$647,585.95  $540,337.09  None
Clinic                                  Networking System
Fayetteville, AR

Gage's Fertilizer & Grain, Inc.9/10/95  Fertilizer Applicator      L         $24,812.27         
$74,436.81 $78,896.41  None(2)<F7>
Stanberry, MO                                                             (semi-annual)

Kings Medical of Wisconsin,   1/20/96   Philips T5-3 Upgrade       L          $3,132.13        
$150,342.24  $124,070.77  None
Limited Liability Company
Hudson, OH

Universal Standard Medical     9/1/95   Hitachi Model 7 Analyzer   NR(A)      $2,326.00        
$113,974.00   $95,700.89  None
Laboratories, Inc.
Southfield, MI

Universal Standard Medical     3/1/96   Computer Equipment         NR(B)      $3,007.98         
$93,247.38   $84,585.66  None
Laboratories, Inc.
Southfield, MI

Universal Standard Medical    2/20/96   Miscellaneous Equipment    NR(C)      $2,692.00       
 $145,368.00  $121,864.74  None
Laboratories, Inc.
Southfield, MI

Universal Standard Medical    9/20/95   Freedom Business           NR(D)      $2,228.00         
$98,032.00   $83,422.64  None
Laboratories, Inc.                      Machines
Southfield, MI

Universal Standard Medical   11/20/95   Tyler Freezer and          NR(E)      $2,464.00        
$115,808.00   $98,488.16  None
Laboratories, Inc.                      Cooler
Southfield, MI

Universal Standard Medical    1/20/96   Miscellaneous Equipment    NR(F)     $2,317.00        
$122,801.00  $103,270.82  None
Laboratories, Inc.
Southfield, MI

St. Agnes Hospital of         12/1/94   Hewlett Packard            NR(G)      $6,033.50        
$253,407.00  $223,219.52  None
Fond du Lac                             Information
Fond du Lac, WI                         System

St. Agnes Hospital of         9/10/95   Hewlett Packard            NR(H)      $3,931.89        
$200,526.39  $172,132.18  None
Fond du Lac                             Sonos
Fond du Lac, WI                         Model 2500

Radiologists, P.C.            12/1/95   Philips Diagnost 76        NR(I)      $5,003.24        
$270,174.96  $227,480.63  None
Kansas City, MO                         System

Radiologists, P.C.           10/20/95   ATL HDL 3000               NR(J)      $3,016.42        
$156,853.84  $132,871.43  None
Kansas City, MO                         Ultrasound

Pinnacle Imaging Associates   11/1/95   Siements 42SP MRI          NR(K)     $11,164.30        
$591,707.90  $494,481.41  None
d/b/a Pinnacle
Imaging Center
Duluth, GA

Welborn Clinic                 9/1/95   ATL Ultramark              NR(L)      $2,702.00        
$137,802.00  $117,088.10  None
Evansville, IN                          9 Upgrade

Cardiology Associates of      9/10/95   Vision DST Gamma           NR(M)      $7,371.11        
$375,926.61  $317,797.43  None
Corpus Christi                          Camera
Corpus Christi, TX

Hertzler Clinic, P.A.        12/20/95   Vision FX40 Gamma          NR(N)      $5,264.39        
$347,449.74  $282,158.87  None
Halstead, KS                            Camera

Columbia Hospital             5/20/95   Gryroscan T5 System        NR(O)     $21,996.31        
$483,918.82  $452,917.27  None
Milwaukee, WI                           and 2T5 Upgrade

Medical Associates            3/20/96   2 Philips Horiz            NR(P)      $3,670.12        
$209,196.84  $174,546.02  None
Clinton, IA                             Diagnost
                                                                                              ------------- ------------
                                                                                             
$7,209,050.48$6,107,379.25
                                                                                             ------------- ------------
                                                                                             ------------- ------------
(1)<F6>Except as otherwise indicated in note (2), lessee has option to purchase
 leased equipment for $1.00 at end of lease term.
(2)<F7>Lessee required to purchase leased equipment for bargain purchase price 
 (10% of original equipment cost) at end of lease term.
(3)<F8>L = Lease; NR = Non-Recourse loan
</TABLE>
For Footnotes (A) through (P) describing the Non-Recourse loan instruments in
further detail, please see Schedule I attached hereto.
                           SCHEDULE I
(A)  Non-Recourse Installment Note of Leasing Association Barrington to the
     order of Ziegler Leasing Corporation, dated September 1, 1995
     (Agreement #10385-00-00002)
(B)  Non-Recourse Installment Note of Leasing Association Barrington to the
     order of Ziegler Leasing Corporation, dated March 1, 1996
     (Agreement #10385-00-00008)
(C)  Non-Recourse Installment Note of Leasing Association Barrington to the
     order of Ziegler Leasing Corporation, dated February 20, 1996
     (Agreement #10385-00-00006)
(D)  Non-Recourse Installment Note of Leasing Association Barrington to the
     order of Ziegler Leasing Corporation, dated September 20, 1995 
     (Agreement #10385-00-00001)
(E)  Non-Recourse Installment Note of Leasing Association Barrington to the
     order of Ziegler Leasing Corporation, dated November 20, 1995
     (Agreement #10385-00-00003)
(F)  Non-Recourse Installment Note of Leasing Association Barrington to the
     order of Ziegler Leasing Corporation, dated January 1, 1996
     (Agreement #10385-00-00004)
(G)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the
     order of Ziegler Collateralized Securities, Inc., dated December 1,
     1994 (Agreement #00298-00-00006)
(H)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated September 10, 1995
     (Agreement #00298-00-00008)
(I)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated December 1, 1995
     (Agreement #10132-00-00039)
(J)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated October 20, 1995
     (Agreement #10132-00-00040)
(K)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated November 1, 1995 
     (Agreement #10367-00-00001)
(L)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated September 1, 1995
     (Agreement #10293-00-00012)
(M)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated September 10, 1995
     (Agreement #10267-00-00002)
(N)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated December 20, 1995
     (Agreement #10387-00-00001)
(O)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated May 20, 1995
     (Agreement #00231-00-00005)
(P)  Non-Recourse Installment Note of Ziegler Leasing Corporation to the order
     of Ziegler Collateralized Securities, Inc., dated March 20, 1996
     (Agreement #10386-00-00001)