8-K 1 bsc03tp12.txt NOVEMBER 8K 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 : November 13, 2003 (Date of earliest event reported) Commission File No.: 333-86366-04 Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates Series 2003-TOP12 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-2132808 54-2132809 54-2132810 54-2132811 54-6553669 (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 November 13, 2003 distribution was made to holders of Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-TOP12. 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-TOP12, relating to the November 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-TOP12 By: Wells Fargo Bank Minnesota, N.A., as Paying Agent By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: November 13, 2003 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2003-TOP12, relating to the November 13, 2003 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-TOP12 For Additional Information, please contact CTSlink Customer Service 301-815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date:11/13/2003 Record Date: 10/31/2003 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 - 15 Principal Prepayment Detail 16 Historical Detail 17 Delinquency Loan Detail 18 - 19 Specially Serviced Loan Detail 20 - 21 Modified Loan Detail 22 Liquidated Loan Detail 23 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 investorreporting@wellsfargo.com 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 Ext 333 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 600872601 16 0 10/01/2003 63,936.59 63,936.59 A 850201155 28 0 10/01/2003 76,317.26 76,317.26 A 850201237 30 0 10/01/2003 93,132.82 93,132.82 A 850201170 31 0 10/01/2003 76,755.29 76,755.29 A 600872602 34 0 10/01/2003 64,768.47 64,768.47 A 600872603 39 0 10/01/2003 77,275.45 77,275.45 A 600872604 43 0 10/01/2003 49,858.32 49,858.32 A 600872605 44 0 10/01/2003 46,479.00 46,479.00 A 890901168 47 0 10/01/2003 57,827.36 57,827.36 A 600872661 48 0 10/01/2003 40,861.88 40,861.88 A 600872606 56 0 10/01/2003 61,209.60 61,209.60 A 600872607 60 0 10/01/2003 44,740.25 44,740.25 A 850201182 62 0 10/01/2003 60,456.71 60,456.71 A 600872633 71 0 10/01/2003 34,905.33 34,905.33 B 850201206 75 0 10/01/2003 19,401.25 19,401.25 A 600872608 77 0 10/01/2003 28,317.10 28,317.10 A 600872609 78 0 10/01/2003 28,683.55 28,683.55 A 600872610 85 0 10/01/2003 27,163.80 27,163.80 A 600872611 93 0 10/01/2003 18,307.22 18,307.22 A 310901221 97 0 10/01/2003 23,006.21 23,006.21 A 600872646 112 0 10/01/2003 19,389.69 19,389.69 A 600872612 116 0 10/01/2003 15,412.22 15,412.22 A 600872613 117 0 10/01/2003 13,310.19 13,310.19 A 600872648 118 0 10/05/2003 16,979.84 16,979.84 A 850201144 119 0 10/01/2003 10,500.33 10,500.33 A 600872614 124 0 10/01/2003 10,211.06 10,211.06 A 850201113 125 0 10/01/2003 8,340.25 8,340.25 A 850201226 129 0 10/01/2003 7,896.39 7,896.39 A 410901199 134 0 10/01/2003 13,270.80 13,270.80 A 600872615 140 0 10/01/2003 8,122.43 8,122.43 A 600872616 145 0 10/01/2003 7,310.19 7,310.19 A 600872617 147 0 10/01/2003 6,962.08 6,962.08 A 600872618 154 0 10/01/2003 6,149.84 6,149.84 A 600872619 155 0 10/01/2003 6,033.80 6,033.80 A 600872620 163 0 10/01/2003 4,873.46 4,873.46 A 850201244 164 0 10/01/2003 6,957.29 6,957.29 A Totals 36 1,155,123.32 1,155,123.32

Resolution Actual Outstanding Bankruptcy Loan Number Strategy Servicing Foreclosure Principal Servicing Date REO Code(2) Transfer Date Date Balance Advances Date 600872601 20,900,000.00 0.00 850201155 15,700,000.00 0.00 850201237 15,126,899.85 0.00 850201170 14,698,569.40 0.00 600872602 14,000,000.00 0.00 600872603 11,914,134.63 0.00 600872604 10,000,000.00 0.00 600872605 9,985,411.15 0.00 890901168 9,732,251.87 0.00 600872661 9,500,000.00 0.00 600872606 8,820,171.71 0.00 600872607 7,955,814.55 0.00 850201182 7,079,000.73 0.00 600872633 5,831,890.99 0.00 850201206 5,478,000.00 0.00 600872608 5,337,938.42 0.00 600872609 5,083,364.60 0.00 600872610 4,901,039.09 0.00 600872611 4,000,000.00 0.00 310901221 3,694,409.73 0.00 600872646 3,225,235.99 0.00 600872612 2,996,253.17 0.00 600872613 2,900,000.00 0.00 600872648 2,895,173.69 0.00 850201144 2,890,000.00 0.00 600872614 2,200,000.00 0.00 850201113 2,190,000.00 0.00 850201226 2,000,000.00 0.00 410901199 1,945,379.15 0.00 600872615 1,750,000.00 0.00 600872616 1,575,000.00 0.00 600872617 1,500,000.00 0.00 600872618 1,325,000.00 0.00 600872619 1,300,000.00 0.00 600872620 1,050,000.00 0.00 850201244 1,034,585.45 0.00 Totals 222,515,524.17 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 (35 loans) 1,120,217.99 1,120,217.99 216,683,633.18 0.00 Total for Status Code = B (1 loans) 34,905.33 34,905.33 5,831,890.99 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

BEAR STEARNS COMMERCIAL MORT SEC TRU 2003-TOP12 8-K