8-K/A 1 fun99c04_10405.txt 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: May 17, 2004 (Date of earliest event reported) Commission File No.: 333-48943-03 First Union Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates FUNB Series 1999-C4 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 52-2211953 52-2211954 52-2211955 54-7056303 (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 May 17, 2004, a revision was made to the First Union Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 1999-C4 which was not included in the original 8-K filed. The 8-K is being amended because there was error in in the yeild maintenance reporting. 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, N.A., 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-C4, relating to the May 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 Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates FUNB Series 1999-C4 (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: May 17, 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-C4, relating to the May 17, 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-C4 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: May 17, 2004 Record Date: April 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 - 15 Principal Prepayment Detail 16 Historical Detail 17 Delinquency Loan Detail 18 Specially Serviced Loan Detail 19 - 22 Modified Loan Detail 23 Liquidated Loan Detail 24 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 Wachovia Bank, National Association 301 S. College Street NC 0170 Charlotte, NC 28288 Contact: Timothy .S. Ryan Phone Number: (704) 593-7878 Special Servicer Allied Capital Corporation 1919 Pennsylvania Avenue, NW Washington, DC 20006-3434 Contact: Demetrios Morakis Phone Number: (202) 331-1112 Ext 2438 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 5,526,569.74 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 5,526,569.74 Principal: Scheduled Principal 800,783.14 Unscheduled Principal 7,813,949.12 Principal Prepayments 7,813,949.12 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 8,614,732.26 Other: Prepayment Penalties/Yield Maintenance 740,097.26 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: 740,097.26 Total Funds Collected 14,881,399.26 Total Funds Distributed Fees: Master Servicing Fee 37,791.27 Trustee Fee 1,589.62 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 39,380.90 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 41,454.36 Special Servicing Fee 9,381.18 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 50,835.54 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 5,436,353.24 Principal Distribution 8,614,732.26 Prepayment Penalties/Yield Maintenance 740,097.26 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 14,791,182.76 Total Funds Distributed 14,881,399.20

Net Remaining Loan Operating DSCR Note Maturity Amortization Number Income Date DSCR Date Date Term 510000102 640,964.70 06/30/2002 1.11 12/01/1999 11/01/2009 305 365000028 1,022,595.92 12/31/2000 1.16 11/01/1999 10/01/2009 304 265330544 407,544.19 06/30/2003 1.16 10/01/1999 09/01/2009 303 465000046 785,396.98 12/31/2003 1.30 10/01/1999 09/01/2009 303 265330686 246,396.17 12/31/2002 1.54 12/01/1999 11/01/2009 305 265330695 40,968.82 09/30/2002 0.38 02/01/2000 01/01/2010 246 (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 510000102 16 2 03/12/2003 11,800,000.00 365000028 28 7 02/18/2003 7,850,000.00 265330544 38 11 09/19/2003 7,400,000.00 465000046 46 1 06/14/1999 9,100,000.00 265330686 121 11 05/21/2003 3,200,000.00 265330695 126 10 08/26/2003 475,000.00

Loan Number Comments from Special Servicer 510000102 On 9/19/2003 the judge granted our motion for relief from stay. Receiver has been appointed. Non-judicial foreclosure proceeding. Foreclosure scheduled 7/30/04. The property is 86% occupied is well maintained and full adequate protection payments continue . The 2003 budget projected NOI at $1.3MM resulting in a DSCR of 1:1. Tenant grocer will move into REI space when REI vacates, moving property to stabilization. Negotiating with new theater tenant. 365000028 "The Special Servicer approved a case authorizing as much as $500000 in capital expenditures and repairs to address deferred maintenance items. The SS instructed property manager Grace Management Inc. to proceed immediately with approximately $250000in fi rst floor common area improvements and approximately $100000 to replace the annunciator panel. Property is currently 71% occupied as of 1/25/04 occupied with all available cash flow being used for property improvements and capex. Allied has ordered an updated appraisal and will be getting a separate City of Denver Fire Prevention inspection in order to quantify any possibly code required upgrades that would be mandated to a new owner. Allied is continuing to work with Grace Management on increasing oc cupancy up to 80% by the end of Q2 2004. Allied and Grace have elected to take the assisted living services in-house with a target start date of 4/1/04. " 265330544 Bwr advised the loss of a major tenant would increase vacancy to 57% and no debt service could be paid thereafter. Largest tenant (9200 sf) well over market ($5.20 psf/mo) and wants to reduce space and rent. Most financially secure tenant has 4600sf at $4 psf/mo on month to month lease. Located on edge of suburban office development and local shoppng center serving an affluent area of No. California but affected by the same economic downturn felt throughout the Bay Area. Appraisal at $7.4MM; bwr has signe d contract to sell at $9.35MM. Signed forbearance agreement which would cover period of pending sale and application of sales proceeds. Trust to get 100% of principal, interest and costs, plus approximately $800M. Sale to occur May 2004.No medical use re quired for purchaser. 465000046 Transferred to special servicing on 12/19/03. Tenant bankruptcy has caused DSCR to fall below 1.0. Borrower to make request for relief, may be able to use funds from judgment against prior tenant to keep loan current.Shadow anchor Target may want to purch ase portion of the property. Appraisal ordered, decision pending receipt of appraisal. 265330686 Asset was transferred to SS on 3/14/03 because the borrower encumbered the property with a second trust deed and the guarantor filed a Ch 11 petition on 2/10/03. The case was subsequently converted to Chapter 7. The loan is currentTrustee is marketing the property for sale and states that the property is generating interest around the $4MM level from prospective purchasers. Counsel for SS has requested a status update from the Trustee as to the current status of any offers on the property. The loan appear s to be fully secured by the value of the collateral as demonstrated by the 5/21/03 appraised value of $3.2 MM. Trustee sale delayed by sponsor claim that property is owned by a third party. Borrower now claiming to have new lender who will provide financi ng to pay in full, hearing in June. 265330695 Asset transferred to SS on April 24 2003 as vacant office building. Borrower supported building for one year after Oregon Dept of Justice moved out; site now empty. Bwr reported property condemned; potential condemnation was not approved by the City. Cou nsel advises that a condemnation blight suit possible but outcome very uncertain. Site visit shows 3-story poured concrete building with 10-12 parking spaces in heart of Salem surrounded by vacancies. Oregon economy very weak. Current appraisal $475,000 a s is. Bwr keeping ground lease current. Deed-in-lieu likely by May 2004. One outstanding offer to purchase at $450M, offer raised to $750,000. (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-C4 8-K/A