8-K 1 fun01c02.txt JUNE 8-K UNITED STATES 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: June 14, 2004 (Date of earliest event reported) Commission File No.: 333-53266-02 First Union Commercial Mortgage Securities, Inc. Commercial Mortgage Pass-Through Certificates Series 2001-C2 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 52-7184008 52-2316404 52-2316405 52-2316406 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 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 June 14, 2004, a distribution was made to holders of First Union Commercial Mortgage Securities, Inc., Commercial Mortgage Pass-Through Certificates, Series 2001-C2. 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 2001-C2, relating to the June 14, 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. First Union Commercial Mortgage Securities, Inc. Commercial Mortgage Pass-Through Certificates Series 2001-C2 By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: June 14, 2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2001-C2, relating to the June 14, 2004 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 First Union Commercial Mortgage Securities, Inc. Commercial Mortgage Pass-Through Certificates Series 2001-C2 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: June 14, 2004 Record Date: May 28, 2004 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 10 Mortgage Loan Detail 11 - 14 Principal Prepayment Detail 15 Historical Detail 16 Delinquency Loan Detail 17 Specially Serviced Loan Detail 18 - 20 Modified Loan Detail 21 Liquidated Loan Detail 22 Underwriter First Union Securities, Inc 201 South College Street Charlotte, NC 28288 Contact: William J. Cohane Phone Number: (704) 383-4984 Underwriter Merrill Lynch, Pierce, Fenner & Smith Inc. World Financial Center, North Tower 250 Vesey Street New York, NY 10281 Contact: John E. Gluszak Phone Number: (212) 449-1000 Master Servicer First Union National Bank Charlotte Plaza, Floor 23 NC-1075 201 South College Street Charlotte, NC 28288 Contact: Timothy S. Ryan Phone Number: (704) 593-7878 Special Servicer Lennar Partners, Inc. 760 N.W. 107th Avenue Miami, FL 33172 Contact: Steve Bruha Phone Number: (305) 229-6614 This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, 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, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2004, Wells Fargo Bank, N.A.

Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 6,410,501.12 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 6,410,501.12 Principal: Scheduled Principal 925,459.13 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected 925,459.13 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 Equity Payments Received 0.00 Net Swap Counterparty Payments Received 0.00 Total Other Collected: 0.00 Total Funds Collected 7,335,960.25 Total Funds Distributed Fees: Master Servicing Fee 43,416.70 Trustee Fee 1,780.20 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 45,196.89 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 6,388.84 Special Servicing Fee 2,605.10 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 0.00 Total Additional Trust Fund Expenses 8,993.94 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 6,356,310.26 Principal Distribution 925,459.13 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 7,281,769.39 Total Funds Distributed 7,335,960.22

Principal Prepayment Detail No Principal Prepayments this Period

Net Remaining Loan Operating DSCR Note Maturity Amortization Number Income Date DSCR Date Date Term 265330995 346,800.50 09/30/2003 0.70 11/01/2000 10/01/2010 315 265950372 175,179.79 12/31/2002 0.61 12/01/2000 11/01/2010 322 265330960 63,960.94 06/30/2003 0.68 02/01/2001 01/01/2011 318 (1) 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 (2) 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

Specially Serviced Loan Detail - Part 2 Offering Document Resolution Site Other REO Loan Cross Strategy Inspection Phase 1 Appraisal Appraisal Property Number Reference Code (1) Date Date Date Value Revenue 265330995 42 11 07/17/2000 16,000,000.00 265950372 76 7 09/23/2003 3,250,000.00 265330960 88 2 07/21/2000 2,700,000.00

Loan Number Comments from Special Servicer 265330995 Borrower under contract to sell the property. Borrower has requested to pay the Loan off in full with partial prepayment premium. Special Servicer considering request. Loan remains current but property 50% occupied with DSCR of .76x. 265950372 Renovation construction contract has been signed, anticipate 12 weeks to completion of interior and exterior renovation work - by end of September. 265330960 Foreclosure filed week of May 3rd. Brookside Properties will be possible receiver/manager. Property's performance declined significantly in 2003 due to deployment of troops from Fort Campbell (under 1.0X) however has rebounded recently and property is cl ose to covering debt service. (1) 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

Modified Loan Detail No Modified Loans Liquidated Loan Detail No Liquidated Loans

FIRST UNION COMMERCIAL MORTGAGE PASS THR CER SER 2001-C2 8-K