8-K 1 bsc03tp10_aug.txt AUGUST 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 : August 13, 2003 (Date of earliest event reported) Commission File No.: 333-86366-08 Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2003-TOP10 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) Pending (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 August 13, 2003 distribution was made to holders of Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-TOP10. 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-TOP10, relating to the August 13, 2003 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. Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2003-TOP10 By: Wells Fargo Bank Minnesota, N.A., as Paying Agent By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: August 13, 2003 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2003-TOP10, relating to the August 13, 2003 distribution. Wells Fargo Bank Minnesota, N.A. Corporate Trust Services Bear Stearns Commercial Mortgage Securities Inc., 9062 Old Annapolis Rd Commercial Mortgage Pass-Through Certificates Columbia, MD 21045-1951 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:08/13/2003 Record Date: 07/31/2003 DISTRIBUTION DATE STATEMENT Table of Contents 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 - 16 Principal Prepayment Detail 17 Historical Detail 18 Delinquency Loan Detail 19 - 20 Specially Serviced Loan Detail 21 - 22 Modified Loan Detail 23 Liquidated Loan Detail 24 Depositor Bear Stearns Commercial Mortgage Securities 383 Madison Avenue New York, NY 10179 Contact: General Information Number Phone Number: (212) 272-2000 Master Servicer Wells Fargo Bank, National Association 45 Fremont Street, 2nd Floor San Francisco, CA 94105 Contact: Matilde Sanchez Phone Number: (415) 222-2364 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 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.

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 510901041 2 0 07/07/2003 411,257.19 411,257.19 A 600872201 16 0 07/01/2003 125,957.88 125,957.88 B 600872245 17 0 07/01/2003 91,800.25 91,800.25 B 600872202 18 0 07/01/2003 88,506.39 88,506.39 A 600872203 19 0 07/01/2003 88,108.85 88,108.85 B 600872204 22 0 07/01/2003 73,152.69 73,152.69 A 600872256 23 0 07/01/2003 87,661.30 87,661.30 B 600872205 27 0 07/01/2003 53,871.11 53,871.11 B 600872206 29 0 07/01/2003 58,364.27 58,364.27 B 600872207 33 0 07/01/2003 52,986.95 52,986.95 B 600872208 34 0 07/01/2003 66,920.32 66,920.32 B 600872209 35 0 07/01/2003 50,474.68 50,474.68 B 600872210 41 0 07/01/2003 46,861.40 46,861.40 B 600872211 42 0 07/01/2003 45,615.25 45,615.25 B 600872212 47 0 07/01/2003 45,404.64 45,404.64 B 600872213 48 0 07/01/2003 45,868.26 45,868.26 B 600872246 51 0 07/01/2003 42,797.22 42,797.22 B 600872214 52 0 07/01/2003 38,744.20 38,744.20 B 600872257 56 0 07/01/2003 38,543.22 38,543.22 B 600872215 57 0 07/01/2003 36,871.27 36,871.27 B 600872216 58 0 07/01/2003 36,256.76 36,256.76 B 600872217 59 0 07/05/2003 37,114.45 37,114.45 A 600872218 62 0 07/01/2003 31,780.69 31,780.69 B 600872219 65 0 07/01/2003 31,985.71 31,985.71 B 600872220 67 0 07/01/2003 34,749.07 34,749.07 B 600872221 69 0 07/01/2003 26,835.03 26,835.03 B 600872222 73 0 07/01/2003 28,371.35 28,371.35 B 600872247 83 0 07/01/2003 21,922.24 21,922.24 B 600872223 84 0 07/01/2003 23,042.11 23,042.11 B 850200984 90 0 07/01/2003 13,497.27 13,497.27 A 600872224 91 0 07/01/2003 20,248.69 20,248.69 B 600872225 92 0 07/01/2003 18,756.07 18,756.07 B 600872226 93 0 07/05/2003 20,672.71 20,672.71 A 600872227 96 0 07/01/2003 18,472.50 18,472.50 B 600872228 98 0 07/01/2003 19,720.46 19,720.46 B 600872229 99 0 07/01/2003 19,233.88 19,233.88 B 600872230 100 0 07/01/2003 18,592.75 18,592.75 B 600872231 104 0 07/01/2003 18,416.00 18,416.00 B 600872232 107 0 07/01/2003 17,463.42 17,463.42 B 600872233 109 0 07/01/2003 17,936.21 17,936.21 B 600872234 120 0 07/01/2003 16,672.35 16,672.35 B 600872235 123 0 07/01/2003 17,485.56 17,485.56 B 600872236 133 0 07/01/2003 12,563.79 12,563.79 B 600872237 135 0 07/01/2003 11,696.44 11,696.44 B 600872238 137 0 07/01/2003 12,920.52 12,920.52 B 600872239 143 0 07/01/2003 15,729.91 15,729.91 B 600872240 150 0 07/01/2003 9,397.94 9,397.94 B 600872241 156 0 07/01/2003 8,575.62 8,575.62 B 600872242 157 0 07/01/2003 9,137.51 9,137.51 B 600872243 159 0 07/01/2003 8,223.19 8,223.19 B 600872248 164 0 07/01/2003 7,488.99 7,488.99 B 600872244 166 0 07/01/2003 7,057.94 7,057.94 B Totals 2,201,784.47 2,201,784.47

Resolution Actual Outstanding Bankruptcy Loan Number Strategy Servicing Foreclosure Principal Servicing Date REO Code(2) Transfer Date Date Balance Advances Date 510901041 70,000,000.00 0.00 600872201 15,579,464.71 0.00 600872245 15,443,786.39 0.00 600872202 15,092,665.13 0.00 600872203 14,700,516.18 0.00 600872204 12,927,615.51 0.00 600872256 12,348,679.09 0.00 600872205 11,500,000.00 0.00 600872206 10,419,299.10 0.00 600872207 9,052,182.66 0.00 600872208 8,987,013.15 0.00 600872209 8,971,282.11 0.00 600872210 8,246,025.41 0.00 600872211 7,555,744.77 0.00 600872212 7,096,984.67 0.00 600872213 7,052,829.52 0.00 600872246 6,627,279.75 0.00 600872214 6,572,834.01 0.00 600872257 5,957,236.06 0.00 600872215 5,936,042.63 0.00 600872216 5,837,108.52 0.00 600872217 5,757,513.17 0.00 600872218 5,470,717.37 0.00 600872219 5,152,556.71 0.00 600872220 4,921,708.39 0.00 600872221 4,483,422.85 0.00 600872222 4,356,723.00 0.00 600872247 3,776,837.56 0.00 600872223 3,578,901.92 0.00 850200984 3,319,000.00 0.00 600872224 3,301,240.21 0.00 600872225 3,275,633.65 0.00 600872226 3,176,912.70 0.00 600872227 2,985,714.62 0.00 600872228 2,973,871.97 0.00 600872229 2,974,157.44 0.00 600872230 2,875,018.86 0.00 600872231 2,788,783.75 0.00 600872232 2,725,934.62 0.00 600872233 2,662,280.21 0.00 600872234 2,270,813.70 0.00 600872235 2,257,009.41 0.00 600872236 2,081,953.34 0.00 600872237 1,987,785.14 0.00 600872238 1,982,988.29 0.00 600872239 1,853,219.45 0.00 600872240 1,591,718.09 0.00 600872241 1,452,442.75 0.00 600872242 1,439,117.72 0.00 600872243 1,392,753.35 0.00 600872248 1,187,808.60 0.00 600872244 1,111,594.37 0.00 Totals 357,070,722.58 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 (6 loans) 644,200.70 644,200.70 110,273,706.51 0.00 Total for Status Code = B (46 loan) 1,557,583.77 1,557,583.77 246,797,016.07 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 ** Aggegate liquidation expenses also include outstanding P & I advances and unpaid ees (servicing, trustee, etc.).

BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST 2003-TOP10 8-K