ABNAMRO LaSalle
ABSTSSECURITIES 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 26, 1997
(Date of earliest event reported)
First Union Commercial Mortgage Securities, INC.
(as depositor under the Pooling and Servicing Agreement,
dated as of November 1, 1997, providing for the issuance of
Mortgage Pass-Through Certificates, Series 1997-C2)
First Union Commercial Mortgage Securities, INC.
(Exact name of registrant as specified in charter)
Delaware 333-7854 56-1643598
(State or other juris- (Commission (I.R.S. Employer
diction of organization) File No.) Identification
No.)
One first Union Center, Charlotte, North Carolina 28228-0600
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code
(704) 374-6828
(Former name or former address, if changed since last
report.)
ITEM 5. OTHER EVENTS
This Current Report on Form 8-K relates to the
Trust Fund formed, and the Mortgage Pass-Through
Certificates Series 1997-c2 issued pursuant to, a Pooling
and Servicing Agreement, dated as of November 1, 1997 (the
"Pooling and Servicing Agreement").
Capitalized terms used herein and not defined
herein have the same meanings ascribed to such terms in the
Pooling and Servicing Agreement.
This Current Report is being filed by the Trustee,
in its capacity as such under the Pooling and Servicing
Agreement, on behalf of the Registrant. The information
reported and contained herein has been supplied to the
Trustee by one or more of the Master Servicer, the Special
Servicer or other third parties without independent review
or investigation by the Trustee. Pursuant to the Pooling
and Servicing Agreement, the Trustee is not responsible for
the accuracy or completeness of such information.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION
AND EXHIBITS
(c) Exhibits
Exhibit No. Description
99 Monthly distribution report
pursuant to Section 4.02 of the Pooling
and Servicing Agreement for the distribution
on December 26, 1997
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be
signed on behalf of the Registrant by the undersigned
thereunto duly authorized.
LASALLE NATIONAL BANK, IN
ITS CAPACITY AS TRUSTEE
UNDER THE POOLING AND
SERVICING AGREEMENT ON
BEHALF OF First Union Commercial
Mortgage Securities, INC., REGISTRANT
By: /s Russell Goldenberg
Russell Goldenberg,
Senior Vice President
Date: December 26, 1997
ABN AMRO
LaSalle National Bank
Administrator:
Brian Ames (800) 246-5761
135 S. LaSalle Street Suite 1625
Chicago, IL 60674-4107
First Union Commercial Mortgage Securities, Inc.
First Union National Bank, Master Servicer
Commercial Mortgage Pass-Through Certificates
Series 1997-C2
ABN AMRO Acct: 67-7852-709
Statement Date: 12/18/97
Payment Date: 12/18/97
Prior Payment: NA
Record Date: 11/28/97
WAC: 8.206988%
WAMM: 150
Number Of Pages
Table Of Contents 1
REMIC Certificate Report 4
Other Related Information
Asset Backed Facts Sheets
Delinquency Loan Detail
Mortgage Loan Characteristics
Loan Level Listing
Total Pages Included In This Package 5
Specially Serviced Loan Detail Appendix A
Modified Loan Detail Appendix B
Realized Loss Detail Appendix C
Remic III
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 220,000,000.00 220,000,000.00 1,856,168.34
33736LAP0 1000.000000000 1000.000000000 8.437128818
A-2 384,000,000.00 384,000,000.00 0.00
33736LAQ8 1000.000000000 1000.000000000 0.000000000
A-3 982,521,000.00 982,521,000.00 0.00
33736LAR6 1000.000000000 1000.000000000 0.000000000
IO 2,203,502,325.0N 2,203,502,325.0 0.00
33736LAW5 1000.000000000 1000.000000000 0.000000000
B 110,175,000.00 110,175,000.00 0.00
33736LAS4 1000.000000000 1000.000000000 0.000000000
C 110,175,000.00 110,175,000.00 0.00
33736LAT2 1000.000000000 1000.000000000 0.000000000
D 121,194,000.00 121,194,000.00 0.00
33736LAU9 1000.000000000 1000.000000000 0.000000000
E 33,052,000.00 33,052,000.00 0.00
33736LAV7 1000.000000000 1000.000000000 0.000000000
F 66,105,000.00 66,105,000.00 0.00
33736LAX3 1000.000000000 1000.000000000 0.000000000
G 49,578,000.00 49,578,000.00 0.00
33736LAY1 1000.000000000 1000.000000000 0.000000000
H 16,527,208.00 16,527,208.00 0.00
33736LAZ8 1000.000000000 1000.000000000 0.000000000
J 44,070,046.00 44,070,046.00 0.00
33736LBA2 1000.000000000 1000.000000000 0.000000000
K 22,035,023.00 22,035,023.00 0.00
33736LBB0 1000.000000000 1000.000000000 0.000000000
L 27,543,779.00 27,543,779.00 0.00
33736LBC8 1000.000000000 1000.000000000 0.000000000
M 16,526,269.00 16,526,269.00 0.00
33736LBE4 1000.000000000 1000.000000000 0.000000000
R-III 0.00 0.00 0.00
9ABSA909 1000.000000000 1000.000000000 0.000000000
2,203,502,325.00 2,203,502,325.0 1,856,168.34
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
A-1 0.00 0.00 218,143,831.66
33736LAP0 0.000000000 0.000000000 991.562871182
A-2 0.00 0.00 384,000,000.00
33736LAQ8 0.000000000 0.000000000 1000.000000000
A-3 0.00 0.00 982,521,000.00
33736LAR6 0.000000000 0.000000000 1000.000000000
IO 0.00 0.00 2,201,646,156.66
33736LAW5 0.000000000 0.000000000 999.157628145
B 0.00 0.00 110,175,000.00
33736LAS4 0.000000000 0.000000000 1000.000000000
C 0.00 0.00 110,175,000.00
33736LAT2 0.000000000 0.000000000 1000.000000000
D 0.00 0.00 121,194,000.00
33736LAU9 0.000000000 0.000000000 1000.000000000
E 0.00 0.00 33,052,000.00
33736LAV7 0.000000000 0.000000000 1000.000000000
F 0.00 0.00 66,105,000.00
33736LAX3 0.000000000 0.000000000 1000.000000000
G 0.00 0.00 49,578,000.00
33736LAY1 0.000000000 0.000000000 1000.000000000
H 0.00 0.00 16,527,208.00
33736LAZ8 0.000000000 0.000000000 1000.000000000
J 0.00 0.00 44,070,046.00
33736LBA2 0.000000000 0.000000000 1000.000000000
K 0.00 0.00 22,035,023.00
33736LBB0 0.000000000 0.000000000 1000.000000000
L 0.00 0.00 27,543,779.00
33736LBC8 0.000000000 0.000000000 1000.000000000
M 0.00 0.00 16,526,269.00
33736LBE4 0.000000000 0.000000000 1000.000000000
R-III 0.00 0.00 0.00
9ABSA909 0.000000000 0.000000000 0.000000000
0.00 0.00 2,201,646,156.66
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
A-1 1,187,816.67 0.00 6.47900000%
33736LAP0 5.399166682 0.000000000Fixed
A-2 2,112,000.00 0.00 6.60000000%
33736LAQ8 5.500000000 0.000000000Fixed
A-3 5,444,803.88 0.00 6.65000000%
33736LAR6 5.541666672 0.000000000Fixed
IO 2,550,956.01 0.00 1.38921896%
33736LAW5 1.157682468 0.000000000Fixed
B 623,406.88 0.00 6.79000000%
33736LAS4 5.658333379 0.000000000Fixed
C 644,523.75 0.00 7.02000000%
33736LAT2 5.850000000 0.000000000Fixed
D 719,084.40 0.00 7.12000000%
33736LAU9 5.933333333 0.000000000Fixed
E 196,108.53 0.00 7.12000000%
33736LAV7 5.933333232 0.000000000 7.12000000%
F 413,156.25 0.00 7.50000000%
33736LAX3 6.250000000 0.000000000 7.50000000%
G 309,862.50 0.00 7.50000000%
33736LAY1 6.250000000 0.000000000 7.50000000%
H 103,295.05 0.00 7.50000000%
33736LAZ8 6.250000000 0.000000000 7.50000000%
J 220,350.23 0.00 6.00000000%
33736LBA2 5.000000000 0.000000000 6.00000000%
K 110,175.12 0.00 6.00000000%
33736LBB0 5.000000227 0.000000000 6.00000000%
L 137,718.90 0.00 6.00000000%
33736LBC8 5.000000182 0.000000000 6.00000000%
M 82,631.32 0.00 6.00000000%
33736LBE4 4.999998487 0.000000000 6.00000000%
R-III 0.00 0.00
9ABSA909 0.000000000 0.000000000
14,855,889.49 0.00
Total P&I Payment 16,712,057.83
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accual
(3) Estimated
Remic II
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
M 220,000,000.00 220,000,000.00 1,856,168.34
None 1000.000000000 1000.000000000 8.437128818
N 384,000,000.00 384,000,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
O 982,521,000.00 982,521,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
P 110,175,000.00 110,175,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
Q 110,175,000.00 110,175,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
R 121,194,000.00 121,194,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
S 33,052,000.00 33,052,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
T 66,105,000.00 66,105,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
U 49,578,000.00 49,578,000.00 0.00
None 1000.000000000 1000.000000000 0.000000000
V 16,527,208.00 16,527,208.00 0.00
None 1000.000000000 1000.000000000 0.000000000
W 44,070,046.00 44,070,046.00 0.00
None 1000.000000000 1000.000000000 0.000000000
X 22,035,023.00 22,035,023.00 0.00
None 1000.000000000 1000.000000000 0.000000000
Y 27,543,779.00 27,543,779.00 0.00
None 1000.000000000 1000.000000000 0.000000000
Z 16,526,269.00 16,526,269.00 0.00
None 1000.000000000 1000.000000000 0.000000000
R-II 0.00 0.00 0.00
9ABSA893 1000.000000000 1000.000000000 0.000000000
2,203,502,325.02,203,502,325.0 1,856,168.34
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
M 0.00 0.00 218,143,831.66
None 0.000000000 0.000000000 991.562871182
N 0.00 0.00 384,000,000.00
None 0.000000000 0.000000000 1000.000000000
O 0.00 0.00 982,521,000.00
None 0.000000000 0.000000000 1000.000000000
P 0.00 0.00 110,175,000.00
None 0.000000000 0.000000000 1000.000000000
Q 0.00 0.00 110,175,000.00
None 0.000000000 0.000000000 1000.000000000
R 0.00 0.00 121,194,000.00
None 0.000000000 0.000000000 1000.000000000
S 0.00 0.00 33,052,000.00
None 0.000000000 0.000000000 1000.000000000
T 0.00 0.00 66,105,000.00
None 0.000000000 0.000000000 1000.000000000
U 0.00 0.00 49,578,000.00
None 0.000000000 0.000000000 1000.000000000
V 0.00 0.00 16,527,208.00
None 0.000000000 0.000000000 1000.000000000
W 0.00 0.00 44,070,046.00
None 0.000000000 0.000000000 1000.000000000
X 0.00 0.00 22,035,023.00
None 0.000000000 0.000000000 1000.000000000
Y 0.00 0.00 27,543,779.00
None 0.000000000 0.000000000 1000.000000000
Z 0.00 0.00 16,526,269.00
None 0.000000000 0.000000000 1000.000000000
R-II 0.00 0.00 0.00
9ABSA893 0.000000000 0.000000000 0.000000000
0.00 0.00 2,201,646,156.66
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
M 1,483,227.70 0.00 8.09033291%
None 6.741944091 0.000000000 8.23695086%
N 2,588,906.53 0.00 8.09033291%
None 6.741944089 0.000000000 8.23695086%
O 6,624,101.65 0.00 8.09033291%
None 6.741944091 0.000000000 8.23695086%
P 742,793.69 0.00 8.09033291%
None 6.741944089 0.000000000 8.23695086%
Q 742,793.69 0.00 8.09033291%
None 6.741944089 0.000000000 8.23695086%
R 817,083.17 0.00 8.09033291%
None 6.741944073 0.000000000 8.23695086%
S 222,834.74 0.00 8.09033291%
None 6.741944209 0.000000000 8.23695086%
T 445,676.21 0.00 8.09033291%
None 6.741944028 0.000000000 8.23695086%
U 334,252.10 0.00 8.09033291%
None 6.741944007 0.000000000 8.23695086%
V 111,425.51 0.00 8.09033291%
None 6.741943951 0.000000000 8.23695086%
W 297,117.79 0.00 8.09033291%
None 6.741944177 0.000000000 8.23695086%
X 148,558.89 0.00 8.09033291%
None 6.741943950 0.000000000 8.23695086%
Y 185,698.62 0.00 8.09033291%
None 6.741944161 0.000000000 8.23695086%
Z 111,419.20 0.00 8.09033291%
None 6.741945203 0.000000000 8.23695086%
R-II 0.00 0.00
9ABSA893 0.000000000 0.000000000
14,855,889.49 0
Total P&I Payment 16,712,057.83
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accual
(3) Estimated
Remic I
Original Opening Principal
Class Face Value (1) Balance Payment
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular 2,203,502,325.02,203,502,325.0 1,856,168.34
None 1000.00000000 1000.00000000 0.84237185
R-I 0.00 0.00 0.00
9ABSA892 1000.00000000 1000.00000000 0.00000000
2,203,502,325.02,203,502,325.0 1,856,168.34
Principal Negative Closing
Class Adj. or Loss Amortization Balance
CUSIP Per $1,000 Per $1,000 Per $1,000
Regular 0.00 0.00 2,201,646,156.66
None 0.00000000 0.00000000 999.15762815
R-I 0.00 0.00 0.00
9ABSA892 0.00000000 0.00000000 0.00000000
0.00 0.00 2,201,646,156.66
Interest Interest Pass-Through
Class Payment Adjustment Rate (2)
CUSIP Per $1,000 Per $1,000 Next Rate (3)
Regular 14,855,889.49 0.00 8.09033291%
None 6.74194410 0.00000000 8.23695086%
R-I 0.00 0.00
9ABSA892 0.00000000 0.00000000
14,855,889.49 0.00
Total P&I Payment 16,712,057.83
Notes: (1) N denotes notional balance not included in total
(2) Interest Paid minus Interest Adjustment minus
Deferred Interest equals Accual
(3) Estimated
