8-K/A 1 fun99c01_10412.txt DECEMBER 8K/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K/A CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: December 16, 2004 (Date of earliest event reported) Commission File No.: 333-48943-02 First Union Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates FUNB Series 1999-C1 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 52-2154857 52-2154872 52-2154873 52-2154874 (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 Subsequent to filing the 8-K relating to the payment date on December 16, 2004, a revision was made to the First Union Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, FUNB Series 1999-C1 which was not included in the original 8-K filed. The 8-K is being amended due to a revised loss. This revision was not previously disclosed in a 1934 Act filing. The revised data has been and will continue to be available on the Wells Fargo Bank, website at www.ctslink.com. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description (EX-99.1) Amended monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, FUNB Series 1999-C1, relating to the December 16, 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 Trust Commercial Mortgage Pass-Through Certificates FUNB Series 1999-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 16, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Amended monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, FUNB Series 1999-C1, relating to the December 16, 2004 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 First Union Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates FUNB Series 1999-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 16, 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 - 10 Mortgage Loan Detail 11 - 18 Principal Prepayment Detail 19 Historical Detail 20 Delinquency Loan Detail 21 Specially Serviced Loan Detail 22 - 25 Modified Loan Detail 26 Liquidated Loan Detail 27 Underwriter First Union Capital Markets One First Union Center 301 South College Street Charlotte, NC 28288 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 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 6,123,082.15 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 6,123,082.15 Principal: Scheduled Principal 2,263,918.50 Unscheduled Principal 4,354,079.81 Principal Prepayments 4,354,079.81 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 6,617,998.31 Other: Prepayment Penalties/Yield Maintenance 693,768.27 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: 693,768.27 Total Funds Collected 13,434,848.73 Total Funds Distributed Fees: Master Servicing Fee 37,444.14 Trustee Fee 1,739.33 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 39,183.47 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 0.00 Special Servicing Fee 54,253.90 Rating Agency Expenses 0.00 Attorney Fees & Expenses 5,206.06 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 59,459.96 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 6,024,438.68 Principal Distribution 6,617,998.31 Prepayment Penalties/Yield Maintenance 693,768.27 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 13,336,205.26 Total Funds Distributed 13,434,848.69

Net Remaining Loan Operating DSCR Note Maturity Amortization Number Income Date DSCR Date Date Term 255999739 595,801.08 06/30/2004 0.98 08/01/1998 07/01/2008 282 255999619 191,726.63 06/30/2001 0.59 09/01/1998 08/01/2008 223 255999583 758,725.22 12/31/2003 1.36 07/01/1998 06/01/2008 281 255999894 434,525.38 12/31/2003 0.94 11/01/1998 10/01/2005 285 255999877 7,086.49 06/30/2003 0.03 10/01/1998 09/01/2008 224 430000002 814,200.65 12/31/2003 2.00 09/01/1998 07/01/2008 163 255999617 249,195.00 12/31/2003 1.14 07/01/1998 06/01/2008 221 895096258 31,925.39 09/30/2003 0.26 06/01/1998 05/01/2023 220 (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 255999739 13 2 06/01/1998 19,400,000.00 255999619 41 6 03/06/1998 10,400,000.00 255999583 49 7 05/24/2004 3,800,000.00 255999894 56 13 06/08/2001 4,700,000.00 255999877 71 11 04/23/1998 9,300,000.00 430000002 79 13 01/01/1998 5,700,000.00 255999617 157 8 04/06/1998 3,400,000.00 895096258 205 11 02/17/1998 2,000,000.00

Loan Number Comments from Special Servicer 255999739 Loan is due for the September payment date. Foreclosure has been filed. Borrower has been unwilling to fund debt service shortfalls. 255999619 Approved payoff by Borrower to payoff the loan with a waiver of the prepayment premium and a discount of up to $500,000 off the principal. Regular interest will be paid through the date of payoff. This discount is available through 12/31/04, at which time the full amounts under the loan will be reinstated. The basis for the reduction is that the loan is chronically late; it will be difficult to refinance or sell this hotel separately from the 3 other hotels owned by the same group in Rocky Mount. 255999583 Awarded listing assignment. Marketing package being prepared. Awaiting reply from C&H Steakhouse on our counteroffer. Awaiting offer from tenant, Chucke-Chesse on its parcel. 255999894 Property is not generating sufficient funds to continue to make full P&I payments. The borrower is starting to generate some interest in the vacant anchor space, but will need an interest only or a pay & accrue structure to meet debt payments and fund tenant improvements. 255999877 430000002 On June 1, 2004 the partnership removed the General Partner from management of the property, alleging mis-management and accounting inconsistencies, and appointed a new General Manager. This new general manager has requested a reduction in the interest rate to allow additional funds to go to reserve. Based on current financial information no debt relief is necessary. 255999617 File returned. 895096258 OA consent was approved to accept a payoff with a partial payment of $10,000. Legal counsel was assigned to document the transaction and a legal retainer was remitted by the Borrower. (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 1999-C1 8-K/A