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                                 AMENDMENT NO. 1
                                     TO THE
                          VARI-LITE INTERNATIONAL, INC.
                                1997 OMNIBUS PLAN

         Pursuant to Section 17 of the Vari-Lite International, Inc. 1997
Omnibus Plan (the "Plan"), the Plan is hereby amended as follows:

         1.       Section 2 of the Plan is hereby amended to read in its
                  entirety as follows:

                  2.       SHARES OF STOCK SUBJECT TO THE PLAN

                           The Awards may be granted with respect to Common
                  Stock, $0.10 par value of the Company (the "Common Stock").
                  Shares delivered upon exercise of the Awards, at the election
                  of the Committee (as hereinafter defined in Section 3), may be
                  Common Stock that is authorized but previously unissued or
                  stock reacquired by the Company or both. Subject to the
                  provisions of Section 15, the maximum number of shares of
                  Common Stock with respect to which the Awards may be granted
                  under the Plan, including to any individual employee, shall
                  not exceed 1,200,000. Any shares subject to an Award under the
                  Plan, which Award for any reason expires or is terminated
                  unexercised as to such shares, shall again be available for
                  the grant of other Awards under the Plan; provided, however,
                  that forfeited Common Stock or other securities shall not be
                  available for further Awards if the Participant (as
                  hereinafter defined in Section 4) has realized any benefits of
                  ownership from such Common Stock.

         IN WITNESS WHEREOF, the undersigned has executed this Amendment
effective as of the 8th day of December, 1999.

                                  VARI-LITE INTERNATIONAL, INC.

                                  By:  /s/  H.R. Brutsche III
                                      ------------------------------------
                                           H.R. Brutsche III
                                           Chairman of the BoardPrepared by MERRILL CORPORATION

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August 15, 2001
  DART 2000-1 DISTRIBUTION SUMMARY    
  

Collection Account  

	Wire/Deposit to:
 
	 	In consideration of:
 
	 	In the amount of:

	1.	 	Premier Auto Finance, Inc.	 	Reimburse Previous Advances	 	0.00
	 	 	 	 	Excess Coverage	 	0.00
	

2.	
 	

Bank of New York	
 	

Indenture Trustee Fee	
 	

0.00
	

3.	
 	

Chase	
 	

Owner Trustee Fee	
 	

0.00
	

4.	
 	

Premier Auto Finance, Inc.	
 	

Servicing Fees	
 	

378,652.60
	 	 	 	 	Late Fees	 	77,427.90
	 	 	 	 	 	 	

	 	 	 	 	Total Servicing Fees	 	456,080.50
	

5.	
 	

Note Distribution Account	
 	

Note Interest	
 	

2,602,594.86
	

6.	
 	

Certificate Distribution Account	
 	

Certificate Interest	
 	

87,068.70
	

7.	
 	

Note Distribution Account	
 	

Principal Payable	
 	

23,852,915.49
	

8.	
 	

Certificate Distribution Account	
 	

Principal Payable	
 	

0.00
	

9.	
 	

Reserve Fund	
 	

Funding	
 	

449,989.79
	 	 	 	 	 	 	

	
TOTAL AMOUNT WIRED/DEPOSITED:	
 	

27,448,649.34
	 	 	 	 	 	 	

Reserve Account  

	Wire/Deposit to:
 
	 	In consideration of:
 
	 	In the amount of:

	1.	 	Collection Account	 	Collection Shortfall	 	0.00
	 	 	 	 	 	 	

	
TOTAL AMOUNT WIRED/DEPOSITED:	
 	

0.00
	 	 	 	 	 	 	

	

/s/ RANDALL S. ROYER   
 VP—Assistant Treasurer	
 	

 	
 	

 
	

/s/ MATTHEW P. ROMANO   
 SV—Finance	
 	

August 14, 2001

1:47 PM

Page 3 of 10

 
 
 

Dealer Auto Receivables Owner Trust 2000-1    
  

	190,000,000.00	 	6.69% Dealer Auto Receivables Asset-Backed Notes, Class A-1
	274,000,000.00	 	7.01% Dealer Auto Receivables Asset-Backed Notes, Class A-2
	168,000,000.00	 	7.07% Dealer Auto Receivables Asset-Backed Notes, Class A-3
	83,251,000.00	 	7.12% Dealer Auto Receivables Asset-Backed Notes, Class A-4
	24,470,000.00	 	7.46% Dealer Auto Receivables Asset-Backed Notes, Class B
	13,175,591.56	 	7.93% Dealer Auto Receivables Asset- Backed Certificates

 
 

Monthly Report
  For the August 15, 2001 Distribution Date    
  

	A	 	Calculation of Available Amounts	 	 	 	 
	

 	
 	

1	
 	

Available Principal (as defined in Article I of the Sale and Servicing Agreement)	
 	
$	

22,649,083.40	
 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Available Interest (as defined in Article I of the Sale and Servicing Agreement)	 	$	4,722,138.04	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Available Amounts (l. plus 2.)	 	$	27,371,221.44	 
	 	 	 	 	 	 	 	 	
	 
	
B	
 	

Calculation of Principal Distributable Amount
 (as defined in Article I of the Sale and Servicing Agreement)	
 	
$	

23,852,915.49	
 
	 	 	 	 	 	 	 	 	
	 
	
C	
 	

Calculation of Note Monthly Principal Distributable Amount	
 	
$	

23,852,915.49	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

1	
 	

Note Percentage for such Distribution Date	
 	
 	

 	
 
	

 	
 	

 	
 	

(a)	
 	

for each Distribution Date to but excluding the Distribution Date on which the principal amount of the Class B Notes is reduced to zero	
 	
 	

100.00	
%
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(b)	 	after the principal amount of the Class B Notes have been reduced to zero	 	 	0.00	%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Principal Distributable Amount (from B)	
 	
$	

23,852,915.49	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Note Monthly Principal Distributable Amount for	
 	
 	

 	
 
	

 	
 	

 	
 	

(a)	
 	

Class A-1 Notes	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

(b)	
 	

Class A-2 Notes	
 	
$	

23,852,915.49	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

(c)	
 	

Class A-3 Notes	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

(d)	
 	

Class A-4 Notes	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

(e)	
 	

Class B Notes	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

(f)	
 	

Note Principal Carryover Shortfall	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
D	
 	

Calculation of Note Monthly Interest Distributable Amount	
 	
 	

 	
 
	

 	
 	

1	
 	

Class A-1 Interest Rate	
 	
 	

6.69	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Class A-2 Interest Rate	
 	
 	

7.01	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Class A-3 Interest Rate	
 	
 	

7.07	
%
	 	 	 	 	 	 	 	 	
	 

Page 4 of 10

 

	

 	
 	

4	
 	

Class A-4 Interest Rate	
 	
 	

7.12	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

5	
 	

Class B Interest Rate	
 	
 	

7.46	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

6	
 	

Class A-1 Note Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

7	
 	

Class A-2 Note Interest Distributable Amount	
 	
$	

966,717.10	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

8	
 	

Class A-3 Note Interest Distributable Amount	
 	
$	

989,800.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

9	
 	

Class A-4 Note Interest Distributable Amount	
 	
$	

493,955.93	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

10	
 	

Class B Note Interest Distributable Amount	
 	
$	

152,121.83	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

11	
 	

Aggregate Interest Carryover Shortfall for each Class for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

12	
 	

Note Monthly Interest Distributable Amount (the sum of items D.6, D.7, D.8, D.9, D.10 and D.11)	
 	
$	

2,602,594.86	
 
	 	 	 	 	 	 	 	 	
	 
	
E	
 	

Calculation of Note Distributable Amount (sum of C.3 plus D.12.)	
 	
$	

26,455,510.35	
 
	 	 	 	 	 	 	 	 	
	 
	
F	
 	

Calculation of Certificate Principal Distributable Amount	
 	
 	

 	
 
	

 	
 	

1	
 	

Certificate Balance	
 	
$	

13,175,591.56	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Certificate Percentage for each respective Distribution Date	
 	
 	

 	
 
	

 	
 	

3	
 	

(a)	
 	

for each Distribution Date to but excluding the Distribution Date on which the Principal Amount of the Class B Notes is reduced to zero	
 	
 	

0.00	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

(b)	
 	

on the Distribution Date on which the Principal Amount of the Class B Notes is reduced to zero	
 	
 	

 	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

(c)	
 	

Thereafter	
 	
 	

100.00	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

4	
 	

(a)	
 	

Principal Distributable Amount multiplied by the Certificate Percentage for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

4	
 	

(b)	
 	

Certificate Principal Carryover Shortfall for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

5	
 	

Certificate Principal Distributable Amount (the sum of 4.(a) and 4.(b))	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
G	
 	

Calculation of Certificate Interest Distributable Amount	
 	
 	

 	
 
	

 	
 	

1	
 	

Certificate Pass-Through Rate	
 	
 	

7.93	
%
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

(a)	
 	

Certificate Monthly Interest Distributable Amount	
 	
$	

87,068.70	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

(b)	
 	

Certificate Interest Carryover Shortfall for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Certificate Interest Distributable Amount (sum of 2.(a) and 2.(b))	
 	
$	

87,068.70	
 
	 	 	 	 	 	 	 	 	
	 
	
H	
 	

Calculation of Certificate Distributable Amount (sum of F.5 and G.3)	
 	
$	

87,068.70	
 
	 	 	 	 	 	 	 	 	
	 

Page 5 of 10

 

	
I	
 	

Fees	
 	
 	

 	
 
	

 	
 	

1	
 	

The Monthly Servicing Fee for such Distribution Date
 (1/12 of the product of 1% and the Aggregate Principal Balance of the Contracts as of the beginning of the preceding Distribution Date)	
 	
 	

378,652.60	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Late Payment Penalty Fees for such Distribution Date	
 	
$	

77,427.90	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Extension Fees for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

4	
 	

Indenture Trustee Fee for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

5	
 	

Owner Trustee Fee for such Distribution Date	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
J	
 	

Calculation of the Available Amounts for such Distribution Date	
 	
 	

 	
 
	

 	
 	

1	
 	

The amount of funds deposited into the Collection Account pursuant to Section 5.05(b) of the Sale and Servicing Agreement with respect to the related Due Period	
 	
$	

27,448,649.34	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

a	
 	

All amounts received by the Indenture Trustee or the Servicer with respect to principal and interest on the Contracts, as well as Late Payment Penalty Fees and Extensions Fees for related Due Period	
 	
$	

26,536,453.97	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

b	
 	

All Net Liquidation Proceeds	
 	
$	

850,660.07	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

c	
 	

The aggregate of the Repurchase Prices for Contracts required to be repurchased by the Depositor as described in Section 7.05 of the Sale and Servicing Agreement	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

d	
 	

All Advances made by Servicer pursuant to Section 7.02 of the Sale and Servicing Agreement	
 	
$	

20,561.33	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

e	
 	

All amounts paid by the Seller in connection with an optional repurchase of the Contracts described in Section 7.07 of the Sale and Servicing Agreement	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

f	
 	

All amounts received in respect of interest, dividends, gains, income and earnings on investments of funds in the Trust Accounts as contemplated in Section 5.05(b) of the Sale and Servicing Agreement	
 	
$	

40,973.97	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

g	
 	

Total amount of funds deposited into the Collection Account pursuant to Section 5.05(b) (the sum of a. through g.)	
 	
$	

27,448,649.34	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

The amount of funds permitted to be withdrawn from the Collection Account pursuant to clauses (i) through (iv) of Section 7.03(a) of the Sale and Servicing Agreement with respect to related Due Period	
 	
$	

456,080.50	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

a	
 	

Amounts to be paid to the Servicer as the Reimbursement Amount in accordance with Section 7.02 of the Sale and Servicing Agreement	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

b	
 	

Amounts to be paid to the Servicer in respect to the Servicing Fee for the related Due Period	
 	
 	

456,080.50	
 
	 	 	 	 	 	 	 	 	
	 

Page 6 of 10

 

	

 	
 	

 	
 	

c	
 	

Amounts to be paid to the Indenture Trustee in respect of the Indenture Trustee Fee for the related Due Period	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

d	
 	

Amounts to be paid to the Owner Trustee in respect of Owner Trustee Fee for related Due Period	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

e	
 	

Total amount of funds permitted to be withdrawn from the Collection Account pursuant to clauses (i) through (iv) Section 7.03(a) of the Sale and Servicing Agreement with respect to the related Due Period (sum of a. through
d.)	
 	
$	

456,080.50	
 
	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

The Available Amounts (not including amounts from Reserve Fund Account) for such Distribution Date available to pay Note Distributable Amounts and Certificate Distributable Amounts (1(g) minus 2(e))	
 	
$	

26,992,568.84	
 
	 	 	 	 	 	 	 	 	
	 
	
K	
 	
The shortfall of Available Amounts for such Distribution Date to pay either the Note Distributable Amount or the Certificate Distributable Amount
 (the Available
Amounts for such Distribution Date minus the sum of the Note Distributable Amount as set forth in E. and the Certificate Distributable Amount as set forth in H.)	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
L	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Note Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
M	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Certificate Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
N	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Note Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
O	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Certificate Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
P	
 	

Interest Earnings on the Reserve Fund.	
 	
$	

69,776.57	
 
	 	 	 	 	 	 	 	 	
	 
	
Q	
 	

The amount on deposit in the Reserve Fund after giving effect to deposits and withdrawals therefrom on such Distribution Date	
 	
 	

23,680,181.03	
 
	 	 	 	 	 	 	 	 	
	 
	
R	
 	

The Specified Reserve Fund Amount for such Distribution Date will be an amount equal to the lesser of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4
Notes and the Class B Notes and the Certificate Balance as of such Distribution Date, and (ii) the greater of:	
 	
 	

 	
 
	

 	
 	

(a)	
 	

4.25% of the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and the Certificate Balance on such Distribution Date, except that if
a Reserve Fund Trigger Event shall have occurred and be continuing on such Distribution Date, then the percentage of the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the
Class A-4 Notes and the Class B Notes and the Certificate Balance referred to in this clause (a), shall be equal to 6.50%; and	
 	
 	

 	
 
	

 	
 	

(b)	
 	

1.00% of the Aggregate Principal Balance as of the Cutoff Date.	
 	
 	

27,984,462.91	
 
	 	 	 	 	 	 	 	 	
	 

Page 7 of 10

 

	
S	
 	

The Pool Factor	
 	
 	

 	
 

	 
	 	Factor immediately

Before such

Distribution Date
	 	Factor immediately

After such

Distribution Date

	Class A-1 Note	 	1	 	0.0000000	 	7	 	0.0000000
	 	 	 	 	
	 	 	 	

	Class A-2 Note	 	2	 	0.6039654	 	8	 	0.5169110
	 	 	 	 	
	 	 	 	

	Class A-3 Note	 	3	 	1.0000000	 	9	 	1.0000000
	 	 	 	 	
	 	 	 	

	Class A-4 Note	 	4	 	1.0000000	 	10	 	1.0000000
	 	 	 	 	
	 	 	 	

	Class B Note	 	5	 	1.0000000	 	11	 	1.0000000
	 	 	 	 	
	 	 	 	

	Certificate	 	6	 	1.0000000	 	12	 	1.0000000
	 	 	 	 	
	 	 	 	

	
T	
 	

Delinquent Contracts	
 	
 	

 	
 
	

 	
 	

1	
 	

31-60 Days	
 	
1,511	
 	
$	

15,820,764.13	
 
	 	 	 	 	 	 	 	 	 	 	
	 	
	 
	

 	
 	

2	
 	

61-90 Days	
 	
312	
 	
$	

3,370,011.62	
 
	 	 	 	 	 	 	 	 	 	 	
	 	
	 
	

 	
 	

3	
 	

91 or More Days	
 	
129	
 	
$	

1,463,365.78	
 
	 	 	 	 	 	 	 	 	 	 	
	 	
	 
	 	 	 	 	 	 	Total Delinquent Receivables	 	1,952	 	$	20,654,141.53	 
	 	 	 	 	 	 	61+ Days Delinquencies as Percentage of Receivables	 	 	 	 	1.12	%
	

 	
 	

 	
 	

 	
 	

Delinquency Ratio for Second Preceding Collection Period	
 	

 	
 	
 	
1.01	
%
	 	 	 	 	 	 	Delinquency Ratio for Preceding Collection Period	 	 	 	 	0.89	%
	 	 	 	 	 	 	Delinquency Ratio for Current Collection Period	 	 	 	 	1.12	%
	 	 	 	 	 	 	Average Delinquency Ratio	 	(Reserve Fund Trigger Event >= 2.0%)	 	 	1.01	%
	
U	
 	

Defaulted Contracts	
 	
 	

 	
 
	

 	
 	

1	
 	

Total Defaulted Contracts for the Due Period	
 	

198	
 	
 	

1,969,121.05	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Identity (attach)	
 	

 	
 	
 	

 	
 
	 	 	3	 	Liquidation proceeds for the Due Period	 	 	 	$	894,743.21	 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

4	
 	

Liquidation expenses for the Due Period	
 	

 	
 	
$	

44,083.14	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

5	
 	

Net Liquidation Proceeds for the Due Period	
 	

 	
 	
$	

850,660.07	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

6	
 	

Net Liquidation Losses for the Due Period	
 	

 	
 	
$	

1,118,460.98	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

 	
 	

 	
 	

Pool Balance at Beginning of Collection Period	
 	

 	
 	
$	

454,383,114.13	
 
	 	 	 	 	 	 	Net Loss Ratio for Current Collection Period	 	 	 	 	2.95	%
	

 	
 	

 	
 	

 	
 	

Net Loss Ratio for Second Preceding Collection Period	
 	

 	
 	
 	
3.53	
%
	 	 	 	 	 	 	Net Loss Ratio for Preceding Collection Period	 	 	 	 	4.26	%
	 	 	 	 	 	 	Net Loss Ratio for Current Collection Period	 	 	 	 	2.95	%
	 	 	 	 	 	 	Average Net Loss Ratio	 	(Reserve Fund Trigger Event >= 2.5%)	 	 	3.58	%

Page 8 of 10

 

	
V	
 	

Advances	
 	
 	

 	
 
	

 	
 	

1	
 	

Unreimbursed Advances prior to such Distribution Date	
 	

 	
 	
$	

232,598.13	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Amount paid to Servicer on such Distribution Date to reimburse Servicer for such unreimbursed Advances	
 	

 	
 	
$	

126,008.25	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Amount of Delinquent Interest for the related Due Period	
 	

 	
 	
$	

146,569.58	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

4	
 	

Amount of new Advances on such Distribution Date (if such amount is less than the amount of Delinquent Interest, attach the certificate required by Section 7.02 of the Sale and Servicing Agreement)	
 	

 	
 	
$	

20,561.33	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

5	
 	

Total of unreimbursed Advances after new Advances on such Distribution Date	
 	

 	
 	
$	

253,159.46	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	
W	
 	

Repurchased Contracts	
 	
 	

 	
 
	

 	
 	

1	
 	

Number of Contracts to be repurchased pursuant to Section 7.07 of the Sale and Servicing Agreement	
 	

 	
 	
 	
0	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Principal Amount of such Contracts	
 	

 	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

Related Repurchase Price of such Contracts	
 	

 	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	
X	
 	

Contracts	
 	
 	

 	
 
	

 	
 	

1	
 	

Number of Contracts as of beginning of Due Period	
 	

 	
 	
 	
46,201	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

2	
 	

Principal Balance of Contracts as of beginning of Due Period	
 	

 	
 	
 	

454,383,114.13	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

3	
 	

The weighted average Contract Rate of the Contracts as of the beginning of the Due Period	
 	

 	
 	
 	
11.61	
%
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

4	
 	

The weighted average remaining term to maturity of the Contracts as of the beginning of the Due Period	
 	

 	
 	
 	
37.99	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

5	
 	

Number of Contracts as of end of Due Period	
 	

 	
 	
 	
44,732	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

6	
 	

Principal Balance of Contracts as of end of Due Period	
 	

 	
 	
 	

430,530,198.64	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

7	
 	

The weighted average Contract Rate of the Contracts as of the end of the Due Period	
 	

 	
 	
 	
11.62	
%
	 	 	 	 	 	 	 	 	 	 	 	 	
	 
	

 	
 	

8	
 	

The weighted average remaining term to maturity of the Contracts as of the end of the Due Period	
 	

 	
 	
 	
37.21	
 
	 	 	 	 	 	 	 	 	 	 	 	 	
	 

Page 9 of 10

 
 
 

Net Loss Addendum
  Section "U" of Servicer Certificate    
  

	For the Period Ending 07/31/01

Servicing Report Dated 08/15/01
 
	 	Reported

8K
	 	Actual*

Loss
	 
	Net Loss Ratio for Current Month	 	2.95	%	2.65	%
	Net Loss Ratio for Previous Month	 	4.26	%	2.68	%
	Net Loss Ratio for 2nd Previous Month	 	**3.53	%	2.52	%
	Net Loss Ratio Three Month Average	 	3.58	%	2.62	%

    The
difference between the Reported 8K and Actual Loss column is driven by the difference in the definition of a Defaulted Contract between the DART 2000-1 Servicing
Agreement and the servicer's normal procedures as described in the Prospectus. Generally the servicer charges-off a contract: 

	1)
	when
the servicer deems the contract uncollectible;

	2)
	if
the financed vehicle is not repossessed, during the month when 5% or more of an installment due under the contract becomes more than 120 days past due;

	3)
	if
the financed vehicle is repossessed, when all sale proceeds, insurance claims and refunds of financed insurance policies and extended warranties have been received; or

	4)
	when
an obligor files for bankruptcy and the servicer determines that its loss is known. 

The
definition of a Defaulted Contract in the DART 2000-1 Sale And Servicing Agreement states: 

"Defaulted Contract" means a Contract with respect to which there has occurred one or more of the following: (i) all or part of a scheduled
payment under the Contract is 120 days or more than 120 days past due and the Servicer has not repossessed the related Financed Vehicle, (ii) the Servicer, has in accordance with
its customary servicing procedures, determined that eventual payment in full is unlikely and has either repossessed and liquidated the related Financed Vehicle or repossessed and held the related
Financed Vehicle in its repossessed inventory for 90 days, whichever occurs first; provided, however, in no event shall the period of time
referred to in clauses (i) or (ii) extend for a combined period of longer than 120 days, or (iii) the relevant Obligor has suffered an Insolvency Event. 

    Two
differences between the two standards account for the change in the Net Loss Ratio reported in the revised Servicer Certificate from the Net Loss Ratio calculated in accordance
with the servicer's customary servicing procedures: 

	1)
	Under
the DART 2000-1 Servicing Agreement the servicer must recognize the entire amount of a bankrupt account as a loss when the obligor files for bankruptcy rather than
when the seller determines the actual amount of loss. Although prior experience does not necessarily predict future performance, in the servicer's experience, a majority of the accounts that file
bankruptcy are collected.

	2)
	Under
the DART 2000-1 Servicing Agreement repossessions in inventory are considered to be a loss if the contract is 120 days delinquent. Traditionally the
Servicer would not consider repossessions in inventory to be a loss until the car has been sold and all liquidation proceeds have been recovered and the loss is known. 

	*
	Losses
as determined according to the Servicer's customary servicing procedures. 
	**
	The
June liquidation adjustment resulted in the understatement of the June 15, 2001 current month net loss ratio. The originally reported net loss ratio of 1.91% has
been adjusted to 3.53% to reflect this adjustment. 

Page 10 of 10

QuickLinks

August 15, 2001 DART 2000-1 DISTRIBUTION SUMMARY

Dealer Auto Receivables Owner Trust 2000-1

Monthly Report For the August 15, 2001 Distribution Date

Net Loss Addendum Section "U" of Servicer Certificate

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