8-K 1 fun00c01_dec.txt DECEMBER 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: December 17, 2004 (Date of earliest event reported) Commission File No.: 333-30294-01 First Union National Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2000-C1 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 52-7086299 52-2243280 52-2243286 52-2243288 52-2243289 (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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On December 17, 2004, a distribution was made to holders of First Union National Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2000-C1. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2000-C1, relating to the December 17, 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 National Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2000-C1 (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: December 17, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2000-C1, relating to the December 17, 2004 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 First Union National Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2000-C1 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: December 17, 2004 Record Date: November 30, 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 - 11 Mortgage Loan Detail 12 - 16 Principal Prepayment Detail 17 Historical Detail 18 Delinquency Loan Detail 19 Specially Serviced Loan Detail 20 - 22 Modified Loan Detail 23 Liquidated Loan Detail 24 Underwriter First Union Securities, Inc One First Union Center, TW-9 301 South College Street Charlotte, NC 28288-0610 Contact: Craig M. Lieberman Phone Number: (704) 383-7407 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 ARCap Servicing, Inc. 5605 N. MacArthur Blvd. Irving, TX 75038 Contact: Chris Crouch Phone Number: (972) 580-1688 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 5,070,176.55 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 4,951.90 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 5,071,128.45 Principal: Scheduled Principal 1,144,843.07 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 1,144,843.07 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 6,219,971.52 Total Funds Distributed Fees: Master Servicing Fee 33,461.87 Trustee Fee 2,349.73 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 35,811.60 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 5,804.18 Special Servicing Fee 5,893.39 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 (556.50) Total Additional Trust Fund Expenses 11,141.07 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 5,028,175.76 Principal Distribution 1,144,843.07 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 6,173,018.83 Total Funds Distributed 6,219,971.50

Principal Prepayment Detail No Principal Prepayments this Period

Net Remaining Loan Operating DSCR Note Maturity Amortization Number Income Date DSCR Date Date Term 265330800 773,689.51 05/25/2004 0.88 04/01/2010 304 265330743 522,584.04 09/30/2003 0.71 01/01/2010 300 265330586 333,044.34 12/31/2003 0.92 11/01/2009 238 265330740 154,275.20 12/31/2003 0.87 01/01/2010 300 (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 265330800 13 2 02/15/2000 16,400,000.00 265330743 23 6 05/01/2004 9,100,000.00 265330586 63 9 08/24/1999 5,190,000.00 265330740 103 2 05/26/2004 1,300,000.00

Loan Number Comments from Special Servicer 265330800 The loan remains in payment default, and the debt has been accelerated with third party reports in progress. The borrower has engaged CBRE to market the property for sale. Initial bids and best and final bids have been received and are being evaluated. Given that the borrower is turning over cash flow, continuing to operate the property responsibly, and is making a serious effort to try to resolve the loan through a sale or possible refinance, the foreclosure will be postponed to February 2005, in the event no sale is approved. 265330743 The short term forbearance agreement terminated on November 30, 2004. Meanwhile, the borrower has negotiated a discounted payoff of $9,500,000 by 12/31/04. The proposal has been approved. The debtor is working toward a close. Occupancy is reported at 83% for the units, collectively. 265330586 Borrower remitted 12/1/04 payment. The Borrower was informed more than 30 days ago that the Trust would not consent to its request for relief from debt service. The property operations continue to adequately support the ability to service the debt per the loan documents. The loan is being submitted for return to the master servicer this month. 265330740 The principal converted his personal bankruptcy from 11 to 7 and has effectively abandoned the properties. An appointment of a receiver was granted in early July. Confirmation of the Trust's security instruments was granted on 11/08/04. Title is expected approx. 60 days after confirmation, however, the Marshall's office has not provided counsel with a sale date. The note has been listed for sale and bids are current under review to determine whether taking title to the Property or selling the note will result in a greater return to the certificateholders. (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

FIRST UNION COMM MORT TRUST COMM MOR PAS THR CER SER 2000-C1 8-K