(NSFW WARNING... sigh..) Ulterior Motives found AGAIN in Unveiled (1986)!
(i'm shaking as i'm writing this lol)
I was looking into the Sun Bunnies find earlier today when I came across the composer for the movie, who was listed as being "Cinema Symphony's". They were credited to a few movies the Booth Brothers worked on, including one they directed and wrote, that being Droid from 1988. This led me to believe "Cinema Symphony's" was another alias of theirs, so I went scavenging through their movies until I found Unveiled from 1986. Because this was from the same timeframe as AOP, I believed there was a good chance the movie had Ulterior Motives. I eventually found a DVD rip of the movie, where I skimmed through it and finally found the song. It begins at 27:16.
Being sourced from a DVD rip, this version of the song is considerably higher quality than anything we've had before, though the only problem is that dialogue takes place during the scene. Other differences include the intro of the song being cut off, and this version continuing beyond the point where AOP's ends.