8-K 1 bacm032.txt JANUARY 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 Date of Report : January 12, 2004 (Date of earliest event reported) Commission File No.: 333-89322-03 BANC OF AMERICA COMMERCIAL MORTGAGE INC., Commercial Mortgage Pass-Through Certificates, Series 2003-2 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-2135784 54-2135785 54-2135786 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 (Address of principal executive offices) (Zip Code) (410) 884-2000 Registrant's Full Telephone Number (Former name, former address and former fiscal year, if changed since last report) ITEM 5. Other Events On January 12, 2004 a distribution was made to holders of Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-2 ITEM 7. Financial Statements and Exhibits (c) Exhibits Item 601(a) of Regulation S-K Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2003-2, relating to the January 12, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-2 By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: January 19, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2003-2, relating to the January 12, 2004 distribution. Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Rd Columbia, MD 21045-1951 Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2003-TOP10 For Additional Information, please contact CTSlink Customer Service 301-815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date:01/12/2004 Record Date: 12/31/2003 DISTRIBUTION DATE STATEMENT Table of Contents Certificate Distribution Detail 2 - 3 Certificate Factor Detail 4 - 5 Reconciliation Detail 6 - 7 Other Required Information 8 Cash Reconciliation 9 Ratings Detail 10 - 11 Current Mortgage Loan and Property Stratification Tables 12 - 20 Mortgage Loan Detail 21 - 25 Principal Prepayment Detail 26 Historical Detail 27 Delinquency Loan Detail 28 - 31 Specially Serviced Loan Detail 32 - 33 Modified Loan Detail 34 Liquidated Loan Detail 35 Depositor Banc of America Commercail Mortgage Inc. 214 North Tryon Street Charlotte, NC 28255 Contact: David Gertner Phone Number: (704) 388-3621 Master Servicer Bank of America, N.A. 555 South Flower Street 6th Floor Los Angeles, CA 90071 Contact: Anita Roglich Phone Number: (213) 345-7357 Special Servicer Midland Loan Services, Inc. 10851 Mastin Street, Bldg. 82 Suite 700 Overland Park, KS 66210 Contact: Brad Hauger Phone Number: (913) 253-9000 This report has been compiled from information provided to Wells Fargo Bank MN, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank MN, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank MN, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2003, Wells Fargo Bank Minnesota, N.A.

Current Mortgage Loan and Property Stratification Tables Group 1 Scheduled Balance %of Scheduled # of Scheduled Agg. WAM Weighted Balance Loans Balance Bal. (2) WAC Avg DSCR(1) Below 675,699 1 672,474.60 0.04 18 5.1500 1.347173 675,700 to 999,999 1 954,320.61 0.05 18 5.1500 1.364795 1,000,000 to 1,999,999 14 21,451,719.45 1.22 28 5.3642 1.841168 2,000,000 to 2,999,999 20 51,796,940.11 2.94 36 5.8124 1.647455 3,000,000 to 3,999,999 11 37,353,239.65 2.12 36 5.7322 1.444803 4,000,000 to 4,999,999 15 66,418,208.13 3.76 35 5.5001 1.579709 5,000,000 to 7,499,999 11 67,384,987.01 3.82 34 5.6701 1.593554 7,500,000 to 9,999,999 6 48,945,330.30 2.77 37 5.7635 1.453563 10,000,000 to 14,999,999 10 134,215,987.68 7.61 38 5.7639 1.410222 15,000,000 to 19,999,999 4 65,343,615.37 3.70 39 5.4088 1.411787 20,000,000 to 29,999,999 7 181,763,359.05 10.30 35 5.3620 1.486644 30,000,000 to 160,000,000 10 602,724,866.76 34.16 36 5.3278 2.028211 160,000,001 and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 110 1,279,025,048.72 72.48 24 5.4580 1.750278

Current Mortgage Loan and Property Stratification Tables Group 2 Scheduled Balance %of Scheduled # of Scheduled Agg. WAM Weighted Balance Loans Balance Bal. (2) WAC Avg DSCR(1) Below 675,699 0 0.00 0.00 0 0.0000 0.000000 675,700 to 999,999 0 0.00 0.00 0 0.0000 0.000000 1,000,000 to 1,999,999 3 5,294,069.02 0.30 38 5.6744 1.443616 2,000,000 to 2,999,999 1 2,088,653.47 0.12 38 5.2000 1.560000 3,000,000 to 3,999,999 4 14,163,164.09 0.80 36 5.9149 1.283430 4,000,000 to 4,999,999 3 13,679,306.42 0.78 38 5.4932 1.387961 5,000,000 to 7,499,999 5 33,242,691.09 1.88 43 5.1448 1.417524 7,500,000 to 9,999,999 3 26,930,606.31 1.53 36 5.3622 1.294493 10,000,000 to 14,999,999 10 119,139,646.83 6.75 34 4.9675 1.369142 15,000,000 to 19,999,999 6 105,668,122.00 5.99 33 5.2139 1.257266 20,000,000 to 29,999,999 4 90,075,552.37 5.10 41 5.7031 1.350172 30,000,000 to 160,000,000 2 75,304,283.77 4.27 41 5.2420 1.485397 160,000,001 and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 41 485,586,095.37 27.52 415 5.2853 1.358142

Loan Appraisal Appraisal Res Mod Number Reduction Reduction Strat. Code Date Amount (2) (3) Totals 0.00 (1) Property Type Code MF- Multi-Family RT- Retail HC- Health Care IN- Industrial WH- Warehouse MH- Mobile Home Park OF- Office MU- Mixed Use LO- Lodging SS- Self Storage OT- Other (2) Resolution Strategy Code 1- Modification 2- Foreclosure 3- Bankruptcy 4- Extension 5- Note Sale 6- DPO 7- REO 8- Resolved 9- Pending Return to Master Servicer 10- Deed In Lieu of Foreclosure 11- Full Payoff 12- Reps and Warranties 13- Other or TBD (3) Modification Code 1- Maturity Date Extension 2- Amortization Change 3- Principal Write-Off 4- Combination

Principal Prepayment Detail No Principal Prepayments this Period

Delinquency Loan Detail Offering # of Current Outstanding Status of Loan Number Document Months Paid Through P & I P & I Mortgage Cross Delinq. Date Advances Advances** Loan(1) Reference 883166501 1 0 12/01/2003 84,420.53 84,420.53 A 883166493 2 0 12/01/2003 80,552.21 80,552.21 A 883166477 4 0 12/01/2003 66,216.65 66,216.65 A 883166485 5 0 12/01/2003 55,521.86 55,521.86 A 3166352 6 0 12/01/2003 115,143.47 115,143.47 A 883166667 7 0 12/01/2003 125,963.33 125,963.33 A 3165669 9 0 12/01/2003 110,138.45 110,138.45 A 3165719 10 0 12/01/2003 79,798.96 79,798.96 A 3145802 11 0 12/01/2003 97,131.53 97,131.53 A 3165602 12 0 12/01/2003 67,786.67 67,786.67 A 3165578 13 0 12/01/2003 64,736.27 64,736.27 A 3165891 14 0 12/01/2003 55,566.47 55,566.47 A 3165594 17 0 12/01/2003 49,145.33 49,145.33 A 3165610 18 0 12/01/2003 47,450.67 47,450.67 A 3165560 19 0 12/01/2003 47,281.20 47,281.20 A 3165545 20 0 12/01/2003 44,400.27 44,400.27 A 3165784 21 0 12/01/2003 52,714.64 52,714.64 A 3165586 22 0 12/01/2003 39,994.13 39,994.13 A 3166022 26 0 12/01/2003 37,718.33 37,718.33 A 3131612 27 0 12/01/2003 26,173.00 26,173.00 A 883165875 28 0 12/01/2003 30,383.15 30,383.15 A 3154143 29 0 12/01/2003 28,767.04 28,767.04 A 3164092 30 0 12/01/2003 20,114.69 20,114.69 A 3131596 31 0 12/01/2003 22,538.85 22,538.85 A 3165107 32 0 12/01/2003 21,288.83 21,288.83 A 883165115 33 0 12/01/2003 19,872.62 19,872.62 A 3166089 35 0 12/01/2003 11,137.98 11,137.98 A 883165735 37 0 12/01/2003 8,893.33 8,893.33 A 3154788 39 0 12/01/2003 181,983.04 181,983.04 B 3154796 41 0 12/01/2003 156,723.56 156,723.56 B 3163797 42 0 12/01/2003 86,428.28 86,428.28 A 883166618 44 0 12/01/2003 79,855.35 79,855.35 A 3148392 45 0 12/01/2003 61,100.14 61,100.14 A 3147352 46 0 12/01/2003 67,201.46 67,201.46 A 3154739 47 0 12/01/2003 51,667.11 51,667.11 A 3148038 50 0 12/01/2003 49,749.95 49,749.95 A 883165412 52 0 12/01/2003 38,524.37 38,524.37 A 3155801 54 0 12/01/2003 32,266.33 32,266.33 A 3154713 56 0 12/01/2003 28,389.45 28,389.45 A 3155470 57 0 12/01/2003 31,697.49 31,697.49 A 3155009 58 0 12/01/2003 27,795.77 27,795.77 A 3154903 59 0 12/01/2003 17,373.56 17,373.56 A 3154580 60 0 12/01/2003 26,987.71 26,987.71 A 883162104 66 0 12/01/2003 29,137.63 29,137.63 A 3154911 68 0 12/01/2003 15,190.00 15,190.00 A 3154028 69 0 12/01/2003 21,934.96 21,934.96 A 3163839 72 0 12/01/2003 25,882.03 25,882.03 A 883137908 74 0 12/01/2003 23,413.58 23,413.58 A 883166063 75 0 12/01/2003 18,602.21 18,602.21 A 883148418 76 0 12/01/2003 18,010.50 18,010.50 A 3155694 79 0 12/01/2003 16,268.96 16,268.96 A 883155108 80 0 12/01/2003 15,700.79 15,700.79 A 3154945 81 0 12/01/2003 15,415.72 15,415.72 A 883166030 82 0 12/01/2003 15,754.86 15,754.86 A 883166048 86 0 12/01/2003 9,301.11 9,301.11 A 883166055 87 0 12/01/2003 6,820.81 6,820.81 A 3166634 89 0 12/01/2003 719,413.13 719,413.13 A 3155462 95 0 12/01/2003 157,351.88 157,351.88 A 3154986 98 0 12/01/2003 100,658.11 100,658.11 A 3154853 99 0 12/01/2003 96,014.28 96,014.28 A 883165776 103 0 12/01/2003 43,799.40 43,799.40 A 3155074 104 0 12/01/2003 34,438.62 34,438.62 A 3154721 105 0 12/01/2003 31,747.97 31,747.97 A 883165842 108 0 12/01/2003 18,154.86 18,154.86 A 3155371 127 0 12/01/2003 25,515.83 25,515.83 A 3155306 128 0 12/01/2003 16,269.08 16,269.08 A 3155322 129 0 12/01/2003 10,767.17 10,767.17 A 3155314 130 0 12/01/2003 9,288.16 9,288.16 A 3155330 131 0 12/01/2003 7,661.26 7,661.26 A 3155348 132 0 12/01/2003 7,318.13 7,318.13 A 3155249 133 0 12/01/2003 19,640.30 19,640.30 A 3155280 134 0 12/01/2003 13,706.68 13,706.68 A 3155363 135 0 12/01/2003 10,739.86 10,739.86 A 3155355 136 0 12/01/2003 7,476.37 7,476.37 A 3155256 137 0 12/01/2003 6,526.99 6,526.99 A 3155264 138 0 12/01/2003 6,408.32 6,408.32 A 3155298 139 0 12/01/2003 5,725.95 5,725.95 A 3155272 140 0 12/01/2003 4,034.87 4,034.87 A 3155686 141 0 12/01/2003 35,937.97 35,937.97 A 3155553 144 0 12/01/2003 19,872.62 19,872.62 A 3155538 146 0 12/01/2003 12,491.36 12,491.36 A 3155546 148 0 12/01/2003 11,355.78 11,355.78 A Totals 82 4,112,342.14 4,112,342.14

Resolution Actual Outstanding Bankruptcy Loan Number Strategy Servicing Foreclosure Principal Servicing Date REO Code(2) Transfer Date Date Balance Advances Date 883166501 18,550,000.00 0.00 883166493 17,700,000.00 0.00 883166477 14,550,000.00 0.00 883166485 12,200,000.00 0.00 3166352 23,500,000.00 0.00 883166667 23,000,000.00 0.00 3165669 20,702,846.23 0.00 3165719 19,797,000.00 0.00 3145802 18,341,122.00 0.00 3165602 16,000,000.00 0.00 3165578 15,280,000.00 0.00 3165891 13,360,000.00 0.00 3165594 11,600,000.00 0.00 3165610 11,200,000.00 0.00 3165560 11,160,000.00 0.00 3165545 10,480,000.00 0.00 3165784 9,579,115.24 0.00 3165586 9,440,000.00 0.00 3166022 6,884,861.98 0.00 3131612 6,398,831.00 0.00 883165875 5,525,607.43 0.00 3154143 4,969,885.06 0.00 3164092 4,700,000.00 0.00 3131596 3,744,514.00 0.00 3165107 3,672,762.25 0.00 883165115 3,482,290.61 0.00 3166089 1,945,060.58 0.00 883165735 1,568,472.34 0.00 3154788 31,443,089.64 0.00 3154796 27,078,749.16 0.00 3163797 16,009,239.17 0.00 883166618 12,766,521.27 0.00 3148392 11,500,000.00 0.00 3147352 10,674,820.02 0.00 3154739 8,937,053.69 0.00 3148038 7,992,478.99 0.00 883165412 6,765,441.30 0.00 3155801 5,556,350.03 0.00 3154713 4,958,602.65 0.00 3155470 4,950,680.53 0.00 3155009 4,924,397.96 0.00 3154903 4,575,000.00 0.00 3154580 4,515,447.59 0.00 883162104 4,056,696.66 0.00 3154911 4,000,000.00 0.00 3154028 3,769,532.24 0.00 3163839 3,247,244.23 0.00 883137908 3,160,721.96 0.00 883166063 2,982,402.61 0.00 883148418 2,966,485.00 0.00 3155694 2,780,885.87 0.00 883155108 2,530,022.85 0.00 3154945 2,509,462.60 0.00 883166030 2,485,746.77 0.00 883166048 1,491,201.28 0.00 883166055 1,093,547.62 0.00 3166634 135,000,000.00 0.00 3155462 27,332,575.36 0.00 3154986 14,755,873.48 0.00 3154853 14,329,087.13 0.00 883165776 7,767,325.50 0.00 3155074 5,726,575.32 0.00 3154721 5,455,901.93 0.00 883165842 2,981,650.60 0.00 3155371 4,271,714.28 0.00 3155306 2,723,675.91 0.00 3155322 1,802,578.25 0.00 3155314 1,554,971.38 0.00 3155330 1,282,603.73 0.00 3155348 1,225,158.94 0.00 3155249 3,278,470.41 0.00 3155280 2,287,995.92 0.00 3155363 1,792,758.75 0.00 3155355 1,247,997.79 0.00 3155256 1,089,521.87 0.00 3155264 1,069,712.38 0.00 3155298 955,807.82 0.00 3155272 673,522.58 0.00 3155686 6,366,898.34 0.00 3155553 3,478,369.27 0.00 3155538 2,186,403.53 0.00 3155546 1,987,639.58 0.00 Totals 771,678,980.46 0.00

Current Outstanding Actual Outstanding P & I P & I Principal Servicing Advances Advances Balance Advances Totals by Deliquency Code: Total for Status Code = A (80 loans) 3,773,635.54 3,773,635.54 713,157,141.66 0.00 Total for Status Code = B (2 loans) 388,706.60 338,706.60 58,521,838.80 0.00

(1) Status of Mortgage Loan A- Payment Not Received But Still in Grace Period B- Late Payment But Less Than 1 Month Delinquent 0- Current 1- One Month Delinquent 2- Two Months Delinquent 3- Three Or More Months Delinquent 4- Assumed Scheduled Payment (Performing Matured Balloon) 7- Foreclosure 9- REO (2) Resolution Strategy Code 1- Modification 2- Foreclosure 3- Bankruptcy 4- Extension 5- Note Sale 6- DPO 7- REO 8- Resolved 9- Pending Return to Master Servicer 10-Deed In Lieu Of Foreclosure 11-Full Payoff 12-Reps and Warranties 13-Other or TBD ** Outstanding P & I Advances include the current period advance. Specially Serviced Loan Detail - Part 1 No Specially Serviced Loans this Period Specially Serviced Loan Detail - Part 2 No Specially serviced Loans this Period Modified Loan Detail No Modified Loans this Period Liquidated Loan Detail No Liquidated Loans this Period

BANC OF AMERICA COMM MORT PASS THR CERTS SER 2003-2 8-K