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8-K/A 1 fucm97c2_200501.htm MONTHLY DISTRIBUTION STATEMENT

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 (Date of earliest event reported) January 18, 2005

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)
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-7854
(Commission
File Number)

56-1643598
(IRS Employer
Identification No.)

One First Union Center, Charlotte, North Carolina
(Address of principal executive offices)

28228-0600
(Zip Code)

Registrant's telephone number, including area code 704-374-6828

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K/A 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))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K/A relates to the monthly distribution reported to the holders of First Union Commercial Mortgage Securities, Inc., Mortgage Pass-Through Certificates, Series 1997-C2, which was made on January 18, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to Section 4.02 of the Pooling and Servicing Agreement for the distribution on January 18, 2005.

(Exhibit No. Description)

SIGNATURES

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.

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
Group Senior Vice President

Date: April 28, 2005

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Revised Date:

04/25/05

Administrator:

ABN AMRO Acct: 720129.2

WAC:

8.333044%

Andy Streepey (800) 246-5761

**Revised**

WAMM:

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Number Of Pages

Table Of Contents

REMIC Certificate Report

Other Related Information

Asset Backed Facts Sheets

Delinquency Loan Detail

Mortgage Loan Characteristics

Loan Level Listing

Total Pages Included In This Package

Specially Serviced Loan Detail

Appendix A

Modified Loan Detail

Appendix B

Realized Loss Detail

Appendix C

Interest Adjustment Summary

Appendix D

Information is available for this issue from the following sources

LaSalle Web Site

www.etrustee.net

Servicer Web Site

www.wachovia.com

Monthly Data File Name:

FUCM97C2_200501_3.ZIP

Page 1 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

WAC:

8.333044%

135 S. LaSalle Street Suite 1625

Remic III

WAMM:

Chicago, IL 60603-4159

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Class

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment

Adjustment

Rate (2)

CUSIP

Per $1,000

Next Rate (3)

A-1

220,000,000.00

0.00

6.47900000%

33736LAP0

1000.000000000

0.000000000

Fixed

A-2

384,000,000.00

0.00

6.60000000%

33736LAQ8

1000.000000000

0.000000000

Fixed

A-3

982,521,000.00

815,823,204.39

30,343,616.76

0.00

785,479,587.63

6,050,257.93

1,529,237.67

6.65000000%

33736LAR6

1000.000000000

830.336658850

30.883428202

0.000000000

799.453230649

6.157891719

1.556442733

Fixed

2,203,502,325.00 N 1,410,707,021.47

0.00

1,380,363,404.71

2,255,645.02

569,610.81

1.43420357%

33736LAW5

1000.000000000

640.211269788

0.000000000

626.440639090

1.023663553

0.258502477

1.43200975%

110,175,000.00

0.00

110,175,000.00

623,406.88

0.00

6.79000000%

33736LAS4

1000.000000000

0.000000000

1000.000000000

5.658333379

0.000000000

Fixed

110,175,000.00

0.00

110,175,000.00

644,523.75

0.00

7.02000000%

33736LAT2

1000.000000000

0.000000000

1000.000000000

5.850000000

0.000000000

Fixed

121,194,000.00

0.00

121,194,000.00

719,084.40

0.00

7.12000000%

33736LAU9

1000.000000000

0.000000000

1000.000000000

5.933333333

0.000000000

Fixed

33,052,000.00

0.00

33,052,000.00

196,108.53

0.00

7.12000000%

33736LAV7

1000.000000000

0.000000000

1000.000000000

5.933333232

0.000000000

Fixed

66,105,000.00

0.00

66,105,000.00

413,156.25

0.00

7.50000000%

33736LAX3

1000.000000000

0.000000000

1000.000000000

6.250000000

0.000000000

7.50000000%

49,578,000.00

0.00

49,578,000.00

309,862.50

0.00

7.50000000%

33736LAY1

1000.000000000

0.000000000

1000.000000000

6.250000000

0.000000000

7.50000000%

16,527,208.00

0.00

16,527,208.00

103,295.05

0.00

7.50000000%

33736LAZ8

1000.000000000

0.000000000

1000.000000000

6.250000000

0.000000000

7.50000000%

44,070,046.00

0.00

44,070,046.00

220,350.23

0.00

6.00000000%

33736LBA2

1000.000000000

0.000000000

1000.000000000

5.000000000

0.000000000

6.00000000%

22,035,023.00

0.00

22,035,023.00

239,461.36

129,286.24

6.00000000%

33736LBB0

1000.000000000

0.000000000

1000.000000000

10.867307014

5.867306787

6.00000000%

27,543,779.00

21,972,540.08

0.00

21,972,540.08

116,962.65

7,099.96

6.00000000%

33736LBC8

1000.000000000

797.731497918

0.000000000

797.731497918

4.246427115

0.257770003

6.00000000%

16,526,269.00

0.00

6.00000000%

33736LBE4

1000.000000000

0.000000000

6.00000000%

Page 2 of 28

Notes: (1) N denotes notional balance not included in total (2) Interest Paid minus Interest Adjustment minus Deferred Interest equals Accrual (3) Estimated

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

WAC:

8.333044%

135 S. LaSalle Street Suite 1625

WAMM:

Chicago, IL 60603-4159

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Class

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment

Adjustment

Rate (2)

CUSIP

Per $1,000

Next Rate (3)

R-III

0.00

9ABSA909

1000.000000000

0.000000000

2,203,502,325.00

1,410,707,021.47

30,343,616.76

0.00

1,380,363,404.71

11,892,114.55

2,235,234.68

Total P&I Payment

42,235,731.31

Page 3 of 28

Notes: (1) N denotes notional balance not included in total (2) Interest Paid minus Interest Adjustment minus Deferred Interest equals Accrual (3) Estimated

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

WAC:

8.333044%

135 S. LaSalle Street Suite 1625

Remic II

WAMM:

Chicago, IL 60603-4159

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Class

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment

Adjustment

Rate (2)

CUSIP

Per $1,000

Next Rate (3)

220,000,000.00

0.00

8.21450214%

None

1000.000000000

0.000000000

8.21517258%

384,000,000.00

0.00

8.21450214%

None

1000.000000000

0.000000000

8.21517258%

982,521,000.00

815,823,204.39

30,343,616.76

0.00

785,479,587.63

7,113,888.89

1,529,237.67

8.21450214%

None

1000.000000000

830.336658850

30.883428202

0.000000000

799.453230649

7.240444622

1.556442733

8.21517258%

110,175,000.00

0.00

110,175,000.00

1,323,804.79

569,610.81

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

12.015473474

5.170055003

8.21517258%

110,175,000.00

0.00

110,175,000.00

754,193.98

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418471

0.000000000

8.21517258%

121,194,000.00

0.00

121,194,000.00

829,623.64

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418420

0.000000000

8.21517258%

33,052,000.00

0.00

33,052,000.00

226,254.77

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418432

0.000000000

8.21517258%

66,105,000.00

0.00

66,105,000.00

452,516.39

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418501

0.000000000

8.21517258%

49,578,000.00

0.00

49,578,000.00

339,382.16

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418532

0.000000000

8.21517258%

16,527,208.00

0.00

16,527,208.00

113,135.65

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418173

0.000000000

8.21517258%

44,070,046.00

0.00

44,070,046.00

301,677.91

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418541

0.000000000

8.21517258%

22,035,023.00

0.00

22,035,023.00

150,838.95

0.00

8.21450214%

None

1000.000000000

0.000000000

1000.000000000

6.845418314

0.000000000

8.21517258%

27,543,779.00

21,972,540.08

0.00

21,972,540.08

286,797.42

136,386.20

8.21450214%

None

1000.000000000

797.731497918

0.000000000

797.731497918

10.412420895

4.951615390

8.21517258%

16,526,269.00

0.00

8.21450214%

None

1000.000000000

0.000000000

8.21517258%

R-II

0.00

9ABSA893

1000.000000000

0.000000000

2,203,502,325.00

1,410,707,021.47

30,343,616.76

0.00

1,380,363,404.71

11,892,114.55

2,235,234.68

Total P&I Payment

42,235,731.31

Page 4 of 28

Notes: (1) N denotes notional balance not included in total (2) Interest Paid minus Interest Adjustment minus Deferred Interest equals Accrual (3) Estimated

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

WAC:

8.333044%

135 S. LaSalle Street Suite 1625

Remic I

WAMM:

Chicago, IL 60603-4159

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Class

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment

Adjustment

Rate (2)

CUSIP

Per $1,000

Next Rate (3)

Regular

2,203,502,325.00

1,410,707,021.47

30,343,616.76

0.00

1,380,363,404.71

11,892,114.55

2,235,234.68

8.21450214%

None

1000.000000000

640.211269788

13.770630698

0.000000000

626.440639090

5.396914909

1.014400872

8.21517258%

R-I

0.00

9ABSA892

1000.000000000

0.000000000

2,203,502,325.00

1,410,707,021.47

30,343,616.76

0.00

1,380,363,404.71

11,892,114.55

2,235,234.68

Total P&I Payment

42,235,731.31

Page 5 of 28

Notes: (1) N denotes notional balance not included in total (2) Interest Paid minus Interest Adjustment minus Deferred Interest equals Accrual (3) Estimated

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Other Related Information

Chicago, IL 60603-4159

Accrued

Excess

Beginning

Payment of

Ending

Yield

Certificate

Prepay Interest

Unpaid

Prior Unpaid

Unpaid

Maintenance

Prepayment

Class

Interest

Shortfall

Interest

Charges

Premiums

A-1

0.00

A-2

0.00

A-3

4,521,020.26

0.00

1,493,155.11

36,082.56

1,686,034.21

0.00

557,860.08

11,750.73

623,406.88

0.00

644,523.75

0.00

719,084.40

0.00

196,108.53

0.00

413,156.25

0.00

309,862.50

0.00

103,295.05

0.00

220,350.23

0.00

110,175.12

0.00

129,286.24

0.00

109,862.70

0.00

1,833,976.85

7,099.96

1,826,876.89

0.00

1,559,087.98

0.00

1,559,087.98

0.00

Total:

9,656,879.88

0.00

3,522,351.07

136,386.20

3,385,964.87

2,051,015.19

47,833.29

Advances

Principal

Interest

Principal

Interest

Principal

Interest

Principal

Interest

Servicer

2,079,031.02

9,141,416.98

133,832.08

532,353.60

302,399.75

917,510.45

1,910,463.35

8,756,260.13

Trustee:

0.00

Fiscal Agent:

0.00

2,079,031.02

9,141,416.98

133,832.08

532,353.60

302,399.75

917,510.45

1,910,463.35

8,756,260.13

Page 6 of 28

Outstanding

Prior Outstanding

Current Period

Recovered

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Other Related Information

Chicago, IL 60603-4159

Servicing Compensation

Current Period Primary Master Servicing Fees Paid:

47,023.57

Current Period Sub Servicer Fees Paid:

77,637.70

Current Period Additional Servicing Fees Paid:

11,755.89

Current Period Additional Master Servicing Compensation Paid:

0.00

Current Period Special Servicing Fees Paid:

25,712.68

Current Period Principal Recovery Fees Paid to Special Servicer:

0.00

Total Servicing Fees:

162,129.84

General Pool Information

Available Distribution Amount for current Distribution Date:

42,235,731.31

Number of Outstanding Mortgage Loans in Pool:

299

Aggregate Stated Principal Balance before current Distribution Date:

1,410,707,021.47

Aggregate Stated Principal Balance after current Distribution Date:

1,380,363,404.71

Percentage of Remaining Cut-off Date Principal Balance:

62.64%

Current Principal Distribution Amount:

30,343,616.76

Prepayments in Full

27,930,860.99

Other Principal Adjustments / Curtailments

0.00

Liquidation Proceeds

0.00

Insurance Proceeds

0.00

REO Proceeds

0.00

Repurchase Proceeds

0.00

Substitution Proceeds

0.00

Current Realized Losses of Principal allocated to Certificates:

0.00

Cumulative Realized Losses of Principal allocated to Certificates:

22,097,507.92

Realized Losses of Principal remaining unallocated:

0.00

Current Additional Trust Fund Expenses:

-314,922.01

Cumulative Additional Trust Fund Expenses:

690,181.06

Additional Trust Fund Expenses remaining unallocated:

0.00

Page 7 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Other Related Information

Chicago, IL 60603-4159

REO Property Information

Scheduled Ending

Actual Ending

Date of

Amount of

Realized

Loan Number

Date of REO

Principal Balance Principal Balance

Final Recovery

Proceeds

Expenses

Loss

239

7/12/2002

10/1/2003

1,397,559.62

1,289,780

2,477,964.15

308

9/16/2002

8/1/2003

1,989,994.64

557,629

551,707.62

198

12/3/2002

8/1/2003

1,906,497.03

543,821

2,048,775.79

257

12/3/2002

4/29/2004

1,374,873.50

1,374,874

2,460,266.56

11/4/2003

16,152,641

17,073,392

N/A

3,512,738

N/A

12/1/2003

12,438,033

12,751,189

N/A

1,919,249

N/A

101

4/1/2004

5,537,789

5,765,389

N/A

1,348,950

N/A

12/6/2004

6,473,906

6,655,519

N/A

Delinquent Loans (One Month or More)

Type of

Environmental

Loan Number

Delinquency

Notice Sent

Assessment

Description of Status

90 + days

Transferred to special servicer 8/1/02.

90 + days

Transferred to special servicer 7/25/01.

90 + days

Transferred to special servicer 10/01/04.

90 + days

Transferred to special servicer 10/01/04.

90 + days

Transferred to special servicer 3/2/04.

101

90 + days

Transferred to special servicer 4/29/03.

204

90 + days

Transferred to special servicer 02/05/2004.

249

90 + days

Transferred to special servicer 9/19/02.

337

90 + days

Transferred to special servicer 12/11/03.

10.

369

90 + days

Transferred to special servicer 11/22/04.

Page 8 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Other Related Information

Chicago, IL 60603-4159

Liquidation Loans

Nature of

Liquidation

Realized

Basis for

Loan Number

Liquidation Event

Proceeds

Loss

Final Recovery

211

2,047,939.01

1,156,716.09

247

1,513,102.93

1,092,508.85

5,486,728.28

5,036,423.81

198

1,906,497.03

2,048,775.79

308

1,976,118.50

565,583.76

6,000,000.00

5,983,458.18

239

1,397,559.62

2,477,964.15

217

2,051,497.01

1,263,758.29

257

1,374,873.50

2,460,266.56

10.

108

5,638,573.78

13,072.78

Page 9 of 28

Realized Loss

Loan liquidation with realized loss.
Loan liquidation with realized loss.

Realized Loss

Loan liquidation with realized loss.
Loan liquidation with realized loss.

Loan liquidation with realized loss.

Realized Loss

Loan liquidation with realized loss.

Realized Loss

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Distribution

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure/Bankruptcy

REO

Modifications

Prepayments

Curr Weighted Avg.

Date

Balance

Coupon

Remit

01/18/05

12,440,565

23,106,033

40,602,369

27,930,861

8.3330%

8.2145%

0.00%

0.000%

0.00%

0.000%

1.30%

0.882%

1.30%

1.638%

1.30%

2.878%

0.00%

0.000%

2.61%

1.980%

12/20/04

9,578,207

18,115,546

29,619,484

34,181,339

25,653,815

8.1854%

8.0669%

0.00%

0.000%

0.96%

0.666%

1.61%

1.259%

1.61%

2.058%

0.96%

2.375%

0.00%

0.000%

1.29%

1.783%

11/18/04

18,173,219

29,660,962

34,237,715

10,058,900

8.3255%

8.2070%

0.00%

0.000%

0.00%

0.000%

1.60%

1.244%

1.60%

2.030%

0.96%

2.343%

0.00%

0.000%

0.64%

0.688%

10/18/04

11,780,019

15,776,185

29,704,439

34,289,798

11,749,177

8.1931%

8.0742%

0.00%

0.000%

0.63%

0.797%

1.27%

1.068%

1.58%

2.010%

0.95%

2.320%

0.00%

0.000%

0.63%

0.795%

09/20/04

11,791,776

18,373,199

7,240,463

28,765,086

2,213,944

8.3441%

8.2252%

0.63%

0.795%

0.00%

0.000%

1.57%

1.239%

0.63%

0.488%

0.63%

1.940%

0.00%

0.000%

0.63%

0.149%

08/18/04

25,569,468

11,832,522

7,253,057

28,805,959

10,588,710

8.3441%

8.2252%

0.00%

0.000%

0.93%

1.710%

1.24%

0.791%

0.62%

0.485%

0.62%

1.926%

0.00%

0.000%

1.55%

0.708%

07/19/04

18,990,980

6,610,748

11,858,607

7,265,557

28,846,539

52,113,457

8.2081%

8.0890%

0.61%

1.225%

0.30%

0.426%

1.22%

0.765%

0.61%

0.469%

0.61%

1.861%

0.00%

0.000%

1.52%

3.362%

06/18/04

25,635,398

11,887,266

7,277,965

28,890,745

35,433,804

8.3482%

8.2293%

0.90%

1.604%

0.00%

0.000%

1.20%

0.744%

0.60%

0.455%

0.60%

1.808%

0.00%

0.000%

0.90%

2.217%

05/18/04

19,011,613

17,342,119

7,290,280

28,930,718

15,507,731

8.2003%

8.0816%

0.59%

1.170%

0.00%

0.000%

1.47%

1.067%

0.59%

0.449%

0.59%

1.780%

0.00%

0.000%

1.47%

0.954%

04/19/04

19,021,801

8,399,665

22,727,689

31,434,599

5,585,180

8.3512%

8.2324%

0.58%

1.162%

0.58%

0.513%

1.74%

1.389%

0.00%

0.000%

0.87%

1.921%

0.00%

0.000%

0.87%

0.341%

03/18/04

24,474,912

22,799,220

3,017,372

31,475,973

9,139,316

8.0522%

7.9330%

0.86%

1.482%

0.00%

0.000%

1.72%

1.380%

0.29%

0.183%

0.86%

1.905%

0.00%

0.000%

0.86%

0.553%

02/18/04

19,041,921

26,221,530

3,023,148

31,526,076

6,736,253

8.3499%

8.2306%

0.57%

1.146%

0.00%

0.000%

2.00%

1.578%

0.29%

0.182%

0.86%

1.898%

0.00%

0.000%

0.57%

0.406%

01/20/04

2,504,948

26,295,013

3,027,379

31,566,794

2,120,919

8.3496%

8.2303%

0.28%

0.150%

0.00%

0.000%

1.99%

1.579%

0.28%

0.182%

0.85%

1.895%

0.00%

0.000%

0.28%

0.127%

12/18/03

6,708,424

8,159,983

30,845,071

3,031,578

18,970,144

21,092,504

8.2054%

8.0863%

0.28%

0.397%

0.85%

0.483%

1.41%

1.826%

0.28%

0.179%

0.56%

1.123%

0.00%

0.000%

1.13%

1.248%

11/18/03

6,496,621

3,356,764

30,596,854

16,528,397

2,471,814

5,647,062

8.3551%

8.2360%

0.56%

0.383%

0.28%

0.198%

1.40%

1.801%

0.28%

0.973%

0.28%

0.146%

0.00%

0.000%

0.56%

0.332%

10/20/03

3,359,685

30,668,259

16,551,792

2,473,731

7,819,799

8.2081%

8.0891%

0.28%

0.195%

0.00%

0.000%

1.38%

1.780%

0.28%

0.961%

0.28%

0.144%

0.00%

0.000%

0.83%

0.454%

Page 10 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Delinquent Loan Detail

Paid

Outstanding

Out. Property

Special

Disclosure Doc

Thru

Current P&I

P&I

Protection

Advance

Servicer

Foreclosure

Bankruptcy

REO

Control #

Date

Advance

Advances**

Advances

Description (1)

Transfer Date

Date

12/01/01

145,230.44

5,371,377.68

0.00

11/04/03

04/01/03

99,066.90

2,080,165.71

0.00

12/02/03

12/01/03

09/01/04

44,057.22

132,170.08

0.00

10/01/04

09/01/04

33,854.77

101,562.30

0.00

10/01/04

05/01/04

73,269.95

586,111.26

0.00

03/02/04

12/06/04

101

02/01/03

52,760.94

1,213,149.63

0.00

04/25/03

04/01/04

120

12/01/04

43,458.81

0.00

204

01/01/04

30,434.55

334,741.83

0.00

02/05/04

246

12/01/04

23,850.48

0.00

249

02/01/03

20,800.29

478,362.65

0.00

09/19/02

08/12/04

296

12/01/04

17,344.91

0.00

306

12/01/04

14,609.72

0.00

307

12/01/04

16,750.58

0.00

337

10/01/03

12,618.33

189,244.01

0.00

12/10/03

03/18/04

339

12/01/04

15,295.97

0.00

369

09/01/04

12,873.27

38,619.33

0.00

11/22/04

396

12/01/04

9,908.54

0.00

Total

666,185.67

10,666,723.49

0.00

A. P&I Advance - Loan in Grace Period

2. P&I Advance - Loan delinquent 2 months

7. P&I Advance - Loan in Foreclosure

B. P&I Advance - Late Payment but < one month delinq

3. P&I Advance - Loan delinquent 3 months or More

8. P&I Advance - Loan in Bankruptcy

1. P&I Advance - Loan delinquent 1 month

4. Matured Balloon/Assumed Scheduled Payment

9. P&I Advance - REO Loan

** Outstanding P&I Advances include the current period P&I Advance

Page 11 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Pool Total

Chicago, IL 60603-4159

Distribution of Principal Balances

Distribution of Property Types

Geographic Distribution

Current Scheduled

Number

Scheduled

Based on

Number

Scheduled

Based on

Number

Scheduled

Based on

Balances

of Loans

Balance

Property Types

of Loans

Balance

Geographic Location

of Loans

Balance

$1,000,000

18,700,210

1.35%

Retail

141

551,743,399

39.97%

Florida

250,635,370

18.16%

$1,000,000

$2,000,000

127,362,201

9.23%

Multifamily

350,192,683

25.37%

New York

182,328,952

13.21%

$2,000,000

$3,000,000

123,810,577

8.97%

Office

215,371,771

15.60%

California

116,605,909

8.45%

$3,000,000

$4,000,000

109,752,735

7.95%

Lodging

142,898,850

10.35%

Texas

107,530,848

7.79%

$4,000,000

$6,000,000

216,034,847

15.65%

Health Care

65,687,859

4.76%

Georgia

74,701,755

5.41%

$6,000,000

$8,000,000

162,444,385

11.77%

Industrial

30,769,056

2.23%

Missouri

56,505,958

4.09%

$8,000,000

$10,000,000

82,730,195

5.99%

Other

11,746,382

0.85%

Pennsylvania

55,679,529

4.03%

$10,000,000

$12,000,000

34,511,956

2.50%

Mixed Use

5,901,447

0.43%

New Jersey

52,014,331

3.77%

$12,000,000

$14,000,000

64,330,222

4.66%

Mobile Home

4,245,355

0.31%

Michigan

41,795,731

3.03%

$14,000,000

$16,000,000

76,859,107

5.57%

Self Storage

1,806,602

0.13%

Ohio

39,898,789

2.89%

$16,000,000

$18,000,000

50,257,505

3.64%

Virginia

39,257,181

2.84%

$18,000,000

$20,000,000

55,975,048

4.06%

North Carolina

34,398,303

2.49%

$20,000,000

$22,000,000

63,504,215

4.60%

Total

299

1,380,363,404

100.00%

Tennessee

28,494,068

2.06%

$22,000,000

$24,000,000

22,857,395

1.66%

Utah

28,331,750

2.05%

$24,000,000

$28,000,000

104,862,474

7.60%

Distribution of Mortgage Interest Rates

Illinois

27,992,653

2.03%

$28,000,000

$32,000,000

30,562,126

2.21%

Current Mortgage

Number

Scheduled

Based on

Connecticut

27,043,778

1.96%

$32,000,000

$34,000,000

0.00%

Interest Rate

of Loans

Balance

Arizona

24,157,312

1.75%

$34,000,000

$38,000,000

35,808,206

2.59%

7.000% or less

0.00%

Alabama

23,137,762

1.68%

$38,000,000

$44,000,000

0.00%

7.000% to 7.500%

203,738,153

14.76%

Maryland

21,352,422

1.55%

$44,000,000

Above

0.00%

7.500% to 8.000%

387,165,149

28.05%

Kansas

19,635,807

1.42%

Total

299

1,380,363,404

100.00%

8.000% to 8.500%

103

459,099,584

33.26%

Wisconsin

19,513,740

1.41%

Average Scheduled Balance is

4,496,298

8.500% to 9.000%

216,000,255

15.65%

Louisiana

18,607,878

1.35%

Maximum Scheduled Balance is

35,808,206

9.000% to 9.500%

77,678,583

5.63%

Indiana

16,520,762

1.20%

Minimum Scheduled Balance is

534,755

9.500% to 10.000%

6,271,840

0.45%

South Carolina

15,085,096

1.09%

10.000% to 10.500%

30,409,841

2.20%

Minnesota

14,894,826

1.08%

10.500% to 11.000%

0.00%

Colorado

11,818,278

0.86%

11.000% to 11.500%

0.00%

Oklahoma

6,920,423

0.50%

11.500% to 12.000%

0.00%

Washington

5,434,192

0.39%

12.000% to 12.500%

0.00%

Massachusetts

5,404,734

0.39%

12.500% to 13.000%

0.00%

Arkansas

5,071,770

0.37%

13.000% to 13.500%

0.00%

Other

9,593,494

0.69%

13.500% &

Above

0.00%

Total

299

1,380,363,404

100.00%

Total

299

1,380,363,404

100.00%

W/Avg Mortgage Interest Rate is

8.3330%

Minimum Mortgage Interest Rate is

7.0650%

Maximum Mortgage Interest Rate is

10.5000%

Page 12 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Pool Total

Chicago, IL 60603-4159

Loan Seasoning

Distribution of Remaining Term

Distribution of DSCR

Number

Scheduled

Based on

Fully Amortizing

Debt Service

Number

Scheduled

Based on

Number of Years

of Loans

Balance

Fully Amortizing

Number

Scheduled

Based on

Coverage Ratio (1)

of Loans

Balance

1 year or less

0.00%

Mortgage Loans

of Loans

Balance

0.500 or less

2,090,230

0.15%

1+ to 2 years

0.00%

60 months or less

10,457,179

0.76%

0.500 to 0.625

0.00%

2+ to 3 years

0.00%

61 to 120 months

4,096,470

0.30%

0.625 to 0.750

654,011

0.05%

3+ to 4 years

0.00%

121 to 180 months

104,508,018

7.57%

0.750 to 0.875

1,059,089

0.08%

4+ to 5 years

0.00%

181 to 240 months

72,766,666

5.27%

0.875 to 1.000

2,532,420

0.18%

5+ to 6 years

0.00%

241 to 360 months

35,716,539

2.59%

1.000 to 1.125

12,620,151

0.91%

6+ to 7 years

0.00%

Total

227,544,872

16.48%

1.125 to 1.250

8,650,662

0.63%

7+ to 8 years

286

1,353,282,541

98.04%

Weighted Average Months to Maturity is

182

1.250 to 1.375

10,197,404

0.74%

8+ to 9 years

27,080,864

1.96%

1.375 to 1.500

24,909,637

1.80%

9+ to 10 years

0.00%

1.500 to 1.625

34,695,232

2.51%

10 years or more

0.00%

1.625 to 1.750

13,941,757

1.01%

Total

299

1,380,363,404

100.00%

1.750 to 1.875

11,116,144

0.81%

Weighted Average Seasoning is

7.3

1.875 to 2.000

6,435,941

0.47%

2.000 to 2.125

1,946,384

0.14%

2.125 & above

4,153,836

0.30%

Unknown

247

1,245,360,507

90.22%

Total

299

1,380,363,404

100.00%

Weighted Average Debt Service Coverage Ratio is

1.488

Distribution of Amortization Type

Number

Scheduled

Based on

Distribution of Remaining Term

Amortization Type

of Loans

Balance

Balloon Loans

NOI Aging

Fully Amortizing

205,666,893

14.90%

Balloon

Number

Scheduled

Based on

Number

Scheduled

Based on

Amortizing Balloon

213

1,032,002,475

74.76%

Mortgage Loans

of Loans

Balance

NOI Date

of Loans

Balance

Interest Only / Amortizing / Balloon

63,474,550

4.60%

12 months or less

16,152,641

1.17%

1 year or less

0.00%

Other

79,219,487

5.74%

13 to 24 months

3,233,603

0.23%

1 to 2 years

0.00%

25 to 36 months

173

723,937,007

52.45%

2 Years or More

135,002,897

9.78%

37 to 48 months

2,992,617

0.22%

Unknown

247

1,245,360,507

90.22%

49 to 60 months

0.00%

Total

299

1,380,363,404

100.00%

61 to 120 months

292,497,861

21.19%

121 to 180 months

71,963,999

5.21%

181 to 240 months

42,040,805

3.05%

Total

299

1,380,363,404

100.00%

Total

222

1,152,818,532

83.52%

Weighted Average Months to Maturity is

(1) Debt Service Coverage Ratios are calculated as described in the prospectus, values are updated periodically as new NOI figures became available from borrowers on an asset level.
Neither the Trustee, Servicer, Special Servicer or Underwriter makes any representation as to the accuracy of the data provided by the borrower for this calculation.

Page 13 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

FUCM97C2

Industrial

7/1/2007

1.630

12/31/2000

0.000%

8/1/2002

FUCM97C2

Retail

11/1/2012

35,808,206

7.470%

277,924

FUCM97C2

Retail

11/1/2007

0.000%

6/1/2004

FUCM97C2

Multifamily

9/1/2012

30,562,126

7.430%

232,633

FUCM97C2

Office

10/1/2022

25,941,150

7.185%

215,846

FUCM97C2

Multifamily

5/1/2007

1.070

12/31/2002

0.000%

7/1/2004

FUCM97C2

Lodging

11/1/2012

25,764,265

7.960%

223,059

FUCM97C2

Multifamily

5/1/2007

26,637,715

8.250%

217,867

FUCM97C2

Retail

7/1/2012

26,519,344

8.120%

214,109

FUCM97C2

Retail

10/1/2002

1.410

12/31/2001

0.000%

10/1/2002

FUCM97C2

Office

6/1/2017

22,857,395

8.410%

193,207

FUCM97C2

Health Care

9/1/2022

21,713,948

8.631%

182,103

FUCM97C2

Retail

10/1/2012

21,361,137

7.750%

164,775

FUCM97C2

Office

6/1/2022

20,429,131

8.420%

183,964

FUCM97C2

Office

8/1/2007

1.580

12/31/2002

18,866,469

7.910%

163,703

FUCM97C2

Office

8/1/2012

15,566,411

7.065%

169,512

FUCM97C2

Multifamily

11/1/2007

18,500,701

7.450%

139,159

FUCM97C2

Multifamily

9/1/2007

18,607,878

7.940%

145,917

FUCM97C2

Retail

6/1/2007

5,987,944

8.930%

50,812

FUCM97C2

Office

8/1/2007

17,760,342

7.880%

138,736

FUCM97C2

Multifamily

7/1/2007

0.000%

12/10/2004

FUCM97C2

Retail

8/1/2012

16,344,522

8.250%

139,172

FUCM97C2

Lodging

9/1/2004

16,152,641

8.690%

147,253

FUCM97C2

Multifamily

7/1/2007

1.370

12/31/2000

0.000%

7/2/2002

FUCM97C2

Multifamily

7/1/2007

1.450

12/31/2000

0.000%

7/2/2002

FUCM97C2

Lodging

11/1/2012

15,060,580

7.920%

130,041

FUCM97C2

Retail

11/1/2012

15,520,701

7.470%

120,463

FUCM97C2

Multifamily

10/1/2027

15,286,304

7.600%

116,502

FUCM97C2

Office

6/1/2012

15,425,112

8.420%

125,936

* NOI and DSCR, if available and reportable under the terms of the trust agreement, are based on information obtained from the related borrower, and no other party to the agreement shall be held liable for the

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 14 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

FUCM97C2

Office

10/1/2017

13,302,058

8.250%

138,887

FUCM97C2

Multifamily

5/1/2007

0.000%

7/1/2004

FUCM97C2

Multifamily

9/1/2022

13,626,192

8.050%

109,113

FUCM97C2

Multifamily

11/1/2027

12,823,492

7.510%

97,986

FUCM97C2

Retail

9/1/2007

12,438,033

8.100%

100,001

FUCM97C2

Retail

10/1/2007

12,140,448

7.620%

92,676

FUCM97C2

Multifamily

7/1/2007

11,710,632

8.375%

95,161

FUCM97C2

Retail

9/1/2007

11,758,876

8.650%

97,446

FUCM97C2

Lodging

11/1/2007

0.480

12/31/2002

0.000%

10/1/2003

FUCM97C2

Office

7/1/2004

1.940

12/31/2000

0.000%

2/1/2002

FUCM97C2

Health Care

8/1/2007

11,042,448

8.410%

89,904

FUCM97C2

Retail

2/1/2019

1.090

12/31/2000

0.000%

11/1/2002

FUCM97C2

Retail

10/1/2012

9,791,277

8.000%

77,045

FUCM97C2

Retail

6/1/2007

9,476,136

8.691%

80,597

FUCM97C2

Multifamily

9/1/2007

9,213,733

7.360%

68,965

FUCM97C2

Office

8/1/2007

9,342,410

8.250%

75,127

FUCM97C2

Retail

7/1/2019

9,608,147

10.125%

87,456

FUCM97C2

Lodging

5/1/2007

8,704,113

9.400%

84,942

FUCM97C2

Retail

10/1/2007

0.000%

7/1/1999

FUCM97C2

Retail

7/1/2019

9,309,555

10.125%

84,738

FUCM97C2

Retail

9/1/2007

8,660,556

8.100%

69,630

FUCM97C2

Multifamily

8/1/2012

8,624,270

8.450%

73,441

FUCM97C2

Health Care

6/1/2007

4,250,528

10.500%

44,377

FUCM97C2

Health Care

6/1/2007

3,950,479

7.603%

34,152

FUCM97C2

Multifamily

8/1/2001

0.000%

6/1/1999

FUCM97C2

Industrial

11/1/2012

0.000%

5/1/2004

FUCM97C2

Multifamily

9/1/2004

1.220

12/31/2000

0.000%

8/1/2002

FUCM97C2

Industrial

9/1/2004

0.000%

10/1/2004

FUCM97C2

Retail

11/1/2007

7,784,534

7.500%

59,433

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 15 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

FUCM97C2

Retail

10/1/2012

7,926,272

8.000%

62,370

FUCM97C2

Retail

10/1/2007

7,828,285

7.980%

62,252

FUCM97C2

Health Care

10/1/2007

7,459,835

8.070%

65,999

FUCM97C2

Multifamily

7/1/2007

0.000%

8/1/2003

FUCM97C2

Retail

7/1/2007

1.770

9/30/2002

7,708,666

8.310%

62,328

FUCM97C2

Industrial

7/1/2017

6,473,906

9.125%

73,757

FUCM97C2

Retail

9/1/2007

7,494,452

8.375%

60,806

FUCM97C2

Multifamily

7/1/2007

7,515,096

8.650%

62,366

FUCM97C2

Multifamily

10/1/2007

6,930,778

7.450%

52,185

FUCM97C2

Office

7/1/2004

1.240

12/31/2000

0.000%

4/1/2002

FUCM97C2

Multifamily

6/1/2004

0.000%

12/1/2003

FUCM97C2

Multifamily

8/1/2007

7.680%

54,111

6,718,878

1/1/2005

FUCM97C2

Retail

11/1/2016

5,659,923

7.313%

59,674

FUCM97C2

Retail

11/1/2007

6,403,965

7.950%

52,799

FUCM97C2

Retail

6/1/2007

6,428,778

8.690%

58,901

FUCM97C2

Retail

10/1/2007

6,610,670

8.160%

53,338

FUCM97C2

Multifamily

8/1/2007

6,612,768

7.720%

51,004

FUCM97C2

Multifamily

8/1/2007

1.400

12/31/2002

6,599,658

7.938%

51,788

FUCM97C2

Multifamily

5/1/2004

0.000%

12/1/2003

FUCM97C2

Retail

7/1/2007

6,508,670

8.630%

54,711

FUCM97C2

Multifamily

5/1/2004

0.000%

6/1/2003

FUCM97C2

Lodging

11/1/2012

6,218,960

7.960%

53,842

FUCM97C2

Multifamily

11/1/2007

6,584,996

7.500%

48,945

FUCM97C2

Retail

10/1/2007

6,510,764

7.840%

50,585

FUCM97C2

Retail

9/1/2007

6,379,410

8.000%

52,530

FUCM97C2

Multifamily

9/1/2007

1.820

12/31/2001

0.000%

10/1/2002

FUCM97C2

Multifamily

11/1/2007

0.000%

11/1/2004

FUCM97C2

Lodging

8/1/2007

6,023,147

8.500%

54,321

FUCM97C2

Retail

11/1/2007

6,251,596

7.750%

48,179

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 16 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

FUCM97C2

Lodging

11/1/2012

6,065,925

9.000%

56,226

FUCM97C2

Multifamily

9/1/2012

6,120,477

7.740%

47,238

FUCM97C2

Industrial

6/1/2022

5,924,135

9.375%

56,668

FUCM97C2

Multifamily

8/1/2007

1.510

12/31/1999

0.000%

3/1/2001

FUCM97C2

Retail

6/1/2007

1.710

12/31/2001

0.000%

1/1/2003

FUCM97C2

Retail

6/1/2018

5,257,495

8.188%

53,911

FUCM97C2

Industrial

7/1/2007

6,002,775

8.550%

49,437

FUCM97C2

Multifamily

9/1/2012

5,898,372

7.840%

45,888

FUCM97C2

Office

8/1/2007

5,611,548

8.375%

50,200

FUCM97C2

Retail

6/1/2012

5,631,631

8.750%

51,795

100

FUCM97C2

Health Care

10/1/2012

0.000%

3/1/2003

101

FUCM97C2

Health Care

5/1/2007

5,537,789

9.250%

53,524

102

FUCM97C2

Retail

5/1/2007

0.000%

7/1/2004

103

FUCM97C2

Retail

8/1/2007

5,789,673

8.375%

47,010

104

FUCM97C2

Retail

5/1/2017

5,562,288

8.720%

49,201

105

FUCM97C2

Retail

10/1/2007

5,641,228

8.160%

45,516

106

FUCM97C2

Multifamily

8/1/2007

1.720

12/31/2000

0.000%

8/1/2002

107

FUCM97C2

Lodging

10/1/2007

5,248,994

7.970%

45,551

108

FUCM97C2

Multifamily

3/1/2004

0.000%

6/1/2004

109

FUCM97C2

Retail

8/1/2007

5,303,038

8.125%

44,118

110

FUCM97C2

Retail

8/1/2007

5,340,628

8.150%

43,166

111

FUCM97C2

Multifamily

8/1/2007

1.880

12/31/1999

0.000%

1/12/2001

112

FUCM97C2

Multifamily

8/1/2007

5,114,264

8.300%

45,528

113

FUCM97C2

Lodging

7/1/2007

4,953,182

8.900%

46,612

114

FUCM97C2

Multifamily

10/1/2007

5,113,940

7.820%

39,669

115

FUCM97C2

Retail

8/1/2007

1.410

12/31/2001

0.000%

10/1/2002

116

FUCM97C2

Office

6/1/2007

5,188,784

9.010%

44,294

117

FUCM97C2

Other

4/1/2009

3,081,916

10.125%

70,067

118

FUCM97C2

Lodging

11/1/2007

4,804,781

8.040%

41,821

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 17 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

119

FUCM97C2

Retail

8/1/2004

2.070

12/31/2002

0.000%

2/1/2004

120

FUCM97C2

Office

7/1/2007

4,685,532

8.870%

44,007

122

FUCM97C2

Industrial

11/1/2007

0.000%

6/14/1999

123

FUCM97C2

Retail

7/1/2007

0.000%

4/1/2003

124

FUCM97C2

Retail

9/1/2017

4,476,116

7.438%

37,996

125

FUCM97C2

Retail

5/1/2004

0.000%

6/1/2004

126

FUCM97C2

Industrial

10/1/2007

4,660,772

7.793%

37,365

127

FUCM97C2

Lodging

11/1/2007

4,445,498

8.000%

38,591

128

FUCM97C2

Lodging

10/1/2007

4,438,181

7.970%

38,515

129

FUCM97C2

Mixed Use

9/1/2022

4,392,490

8.250%

39,423

130

FUCM97C2

Lodging

7/1/2020

4,319,524

9.240%

43,769

131

FUCM97C2

Multifamily

4/1/2007

0.000%

8/1/2004

132

FUCM97C2

Retail

7/1/2007

4,546,458

8.625%

37,658

133

FUCM97C2

Lodging

10/1/2007

4,259,874

7.970%

36,967

134

FUCM97C2

Multifamily

5/1/2007

4,439,709

8.520%

37,091

135

FUCM97C2

Health Care

10/1/2007

0.000%

12/1/2003

136

FUCM97C2

Health Care

8/1/2007

4,323,187

8.970%

40,183

137

FUCM97C2

Retail

5/1/2007

4,454,979

9.010%

38,656

138

FUCM97C2

Retail

6/1/2018

3,912,555

8.188%

40,120

139

FUCM97C2

Retail

5/1/2018

3,899,130

8.188%

40,120

140

FUCM97C2

Retail

10/1/2007

4,445,395

8.230%

35,618

141

FUCM97C2

Multifamily

9/1/2004

0.000%

3/1/2004

142

FUCM97C2

Multifamily

8/1/2007

1.680

12/31/2000

0.000%

6/1/2002

143

FUCM97C2

Multifamily

7/1/2007

4,439,035

8.320%

35,919

145

FUCM97C2

Office

6/1/2007

4,210,144

9.150%

40,351

146

FUCM97C2

Industrial

5/1/2004

0.000%

5/1/2004

147

FUCM97C2

Retail

8/1/2007

0.000%

12/2/2004

148

FUCM97C2

Lodging

11/1/2019

1.320

6/30/2002

8.250%

38,505

3,997,701

1/1/2005

149

FUCM97C2

Retail

11/1/2007

7.875%

35,123

4,032,045

1/1/2005

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 18 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

150

FUCM97C2

Retail

10/1/2007

4,289,512

8.000%

33,753

151

FUCM97C2

Multifamily

10/1/2007

1.450

12/31/2002

4,258,068

7.550%

32,322

152

FUCM97C2

Multifamily

5/1/2004

1.220

12/31/2002

0.000%

7/1/2003

153

FUCM97C2

Retail

7/1/2017

4,204,070

8.490%

34,953

154

FUCM97C2

Retail

7/1/2007

1.630

12/31/2002

4,199,732

8.100%

33,408

155

FUCM97C2

Retail

9/1/2007

4,206,816

8.240%

33,775

156

FUCM97C2

Multifamily

8/1/2007

7.680%

32,795

4,072,046

1/1/2005

157

FUCM97C2

Retail

6/1/2018

3,668,019

8.188%

37,613

158

FUCM97C2

Multifamily

9/1/2004

1.830

12/31/2002

0.000%

5/1/2004

159

FUCM97C2

Multifamily

10/1/2007

1.230

12/31/2002

4,119,455

7.375%

30,828

160

FUCM97C2

Multifamily

7/1/2007

1.500

12/31/2002

4,135,636

7.980%

32,591

161

FUCM97C2

Multifamily

6/1/2007

4,150,044

8.270%

33,494

162

FUCM97C2

Multifamily

10/1/2007

0.000%

5/1/2003

163

FUCM97C2

Lodging

11/1/2007

3,932,041

8.150%

34,476

164

FUCM97C2

Retail

10/1/2007

3,681,729

7.625%

34,424

165

FUCM97C2

Retail

9/1/2007

1.550

12/31/2002

4,062,763

8.180%

32,466

166

FUCM97C2

Other

4/1/2009

2,421,523

9.875%

55,557

167

FUCM97C2

Retail

11/1/2012

4,051,690

7.470%

31,447

168

FUCM97C2

Retail

10/1/2007

3,985,365

7.625%

30,435

169

FUCM97C2

Lodging

4/1/2007

3,853,802

9.050%

36,174

170

FUCM97C2

Retail

9/1/2007

1.950

12/31/2002

3,848,240

8.500%

31,525

171

FUCM97C2

Retail

6/1/2007

3,819,738

9.220%

33,641

172

FUCM97C2

Multifamily

5/1/2007

3,799,858

8.900%

32,695

173

FUCM97C2

Multifamily

7/1/2007

3,797,768

8.150%

30,328

174

FUCM97C2

Multifamily

7/1/2007

1.510

12/31/2000

0.000%

11/1/2002

175

FUCM97C2

Retail

10/1/2007

3,663,343

8.188%

30,530

176

FUCM97C2

Lodging

9/1/2007

3,574,222

8.460%

32,101

177

FUCM97C2

Lodging

8/1/2007

0.000%

10/1/2003

178

FUCM97C2

Office

5/1/2007

0.000%

11/1/2004

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 19 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

180

FUCM97C2

Multifamily

3/1/2004

2.420

12/31/2000

0.000%

10/1/2001

181

FUCM97C2

Multifamily

3/1/2004

1.540

12/31/2000

0.000%

4/1/2002

182

FUCM97C2

Lodging

10/1/2012

3,486,432

8.375%

31,076

183

FUCM97C2

Multifamily

7/1/2007

0.000%

8/1/2003

184

FUCM97C2

Office

6/1/2007

3,563,946

8.720%

30,206

185

FUCM97C2

Other

1/1/2009

2,126,697

10.125%

49,800

186

FUCM97C2

Lodging

10/1/2007

3,373,658

7.970%

29,277

187

FUCM97C2

Multifamily

10/1/2022

3,328,623

7.960%

29,228

188

FUCM97C2

Retail

7/1/2004

1.400

12/31/2000

0.000%

8/1/2001

189

FUCM97C2

Retail

7/1/2004

1.400

12/31/2000

0.000%

8/1/2001

190

FUCM97C2

Retail

9/1/2007

1.440

12/31/2000

0.000%

9/1/2001

191

FUCM97C2

Multifamily

9/1/2007

3,507,426

7.970%

27,569

192

FUCM97C2

Office

10/1/2007

3,495,777

8.500%

28,604

193

FUCM97C2

Office

7/1/2007

2.280

12/31/2002

3,447,736

8.720%

29,186

194

FUCM97C2

Retail

7/1/2022

1.690

12/31/2002

3,311,647

8.710%

30,319

195

FUCM97C2

Multifamily

10/1/2007

1.460

12/31/1999

0.000%

11/27/2000

196

FUCM97C2

Other

1/1/2009

2,032,999

10.125%

47,605

197

FUCM97C2

Retail

7/1/2007

3,401,626

8.670%

28,272

198

FUCM97C2

Retail

5/1/2007

0.000%

8/1/2003

199

FUCM97C2

Office

5/1/2004

0.000%

11/1/2003

200

FUCM97C2

Health Care

8/1/2017

2,943,119

8.625%

31,527

201

FUCM97C2

Multifamily

10/1/2012

0.000%

3/1/2004

202

FUCM97C2

Multifamily

6/1/2022

3,286,991

8.350%

26,692

203

FUCM97C2

Multifamily

9/1/2007

3,248,397

7.790%

25,171

204

FUCM97C2

Lodging

10/1/2017

2,880,534

8.625%

30,651

205

FUCM97C2

Retail

4/1/2007

3,244,202

9.000%

28,162

206

FUCM97C2

Office

9/1/2007

1.090

12/31/2002

3,165,914

7.820%

24,883

207

FUCM97C2

Retail

10/1/2004

0.000%

5/1/2004

208

FUCM97C2

Retail

9/1/2007

3,190,739

8.490%

26,119

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 20 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

209

FUCM97C2

Health Care

8/1/2007

1.850

12/31/1999

0.000%

3/1/2001

210

FUCM97C2

Retail

8/1/2004

0.000%

8/1/2003

211

FUCM97C2

Retail

6/1/2007

-0.010

12/31/2000

0.000%

10/19/2001

212

FUCM97C2

Industrial

10/1/2007

3,172,993

8.530%

26,023

213

FUCM97C2

Office

8/1/2012

2,289,868

8.680%

33,841

214

FUCM97C2

Office

10/1/2007

1.560

12/31/2002

2,711,975

7.750%

27,600

215

FUCM97C2

Retail

10/1/2007

0.000%

12/1/2004

216

FUCM97C2

Retail

4/1/2008

2,992,617

8.375%

25,612

217

FUCM97C2

Lodging

7/1/2007

0.000%

4/1/2004

218

FUCM97C2

Multifamily

7/1/2007

0.000%

7/1/2004

219

FUCM97C2

Multifamily

5/1/2007

3,058,422

8.900%

26,315

220

FUCM97C2

Retail

5/1/2004

0.000%

12/1/2003

221

FUCM97C2

Multifamily

6/1/2007

0.000%

8/1/2003

222

FUCM97C2

Retail

9/1/2012

0.000%

3/1/2004

223

FUCM97C2

Retail

11/1/2012

2,749,633

7.875%

23,670

224

FUCM97C2

Office

9/1/2007

2,909,204

8.490%

23,814

225

FUCM97C2

Multifamily

9/1/2007

2,878,669

7.822%

22,363

226

FUCM97C2

Multifamily

8/1/2004

1.600

12/31/1999

0.000%

12/12/2000

227

FUCM97C2

Office

5/1/2007

2,832,156

9.375%

25,807

228

FUCM97C2

Retail

8/1/2015

2,255,186

7.660%

25,971

229

FUCM97C2

Multifamily

7/1/2007

0.000%

4/1/2003

230

FUCM97C2

Mobile Home

10/1/2007

1.140

12/31/2002

2,788,059

7.790%

21,575

231

FUCM97C2

Multifamily

10/1/2007

2,787,604

7.780%

21,555

232

FUCM97C2

Retail

9/1/2007

1.280

12/31/2002

2,803,667

8.220%

22,475

233

FUCM97C2

Multifamily

3/1/2004

1.440

12/31/2000

0.000%

6/1/2002

234

FUCM97C2

Retail

9/1/2007

2,563,107

7.900%

22,463

235

FUCM97C2

Retail

9/1/2010

1.340

12/31/2002

2,584,397

7.875%

22,334

237

FUCM97C2

Office

11/1/2017

1.380

12/31/2002

2,326,587

8.125%

24,061

238

FUCM97C2

Lodging

11/1/2019

8.250%

23,417

2,431,230

1/1/2005

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 21 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

239

FUCM97C2

Lodging

9/1/2007

-0.370

12/31/2002

0.000%

10/1/2003

240

FUCM97C2

Retail

9/1/2007

2,591,054

8.420%

21,371

241

FUCM97C2

Lodging

9/1/2007

2,309,023

8.875%

24,968

242

FUCM97C2

Retail

6/1/2018

2,282,324

8.188%

23,403

243

FUCM97C2

Multifamily

3/1/2004

1.720

12/31/2000

0.000%

6/1/2002

244

FUCM97C2

Retail

7/1/2017

2,300,791

9.140%

25,354

245

FUCM97C2

Retail

10/1/2007

2,440,541

7.750%

20,870

246

FUCM97C2

Office

5/1/2007

2,446,487

9.504%

24,034

247

FUCM97C2

Office

10/1/2007

1.450

12/31/2000

0.000%

8/1/2002

248

FUCM97C2

Office

10/1/2007

7.800%

20,483

2,387,246

1/1/2005

249

FUCM97C2

Multifamily

8/1/2007

2,536,983

8.620%

20,991

250

FUCM97C2

Retail

7/1/2007

0.900

12/31/2002

2,532,420

8.550%

20,856

251

FUCM97C2

Multifamily

7/1/2004

1.490

12/31/2001

0.000%

9/1/2002

252

FUCM97C2

Retail

7/1/2007

1.590

12/31/2002

2,514,253

8.100%

20,000

253

FUCM97C2

Self Storage

10/1/2012

1,806,602

8.500%

26,588

254

FUCM97C2

Retail

5/1/2007

2,510,404

9.150%

22,017

255

FUCM97C2

Lodging

11/1/2019

8.250%

21,945

2,278,424

1/1/2005

256

FUCM97C2

Retail

11/1/2007

1.680

12/31/2002

2,426,210

7.990%

19,060

257

FUCM97C2

Multifamily

10/1/2027

0.000%

5/1/2004

258

FUCM97C2

Multifamily

9/1/2004

1.800

12/31/2002

0.000%

3/1/2004

259

FUCM97C2

Multifamily

10/1/2027

2,390,601

8.000%

19,041

260

FUCM97C2

Retail

6/1/2007

0.000%

10/1/2003

261

FUCM97C2

Retail

11/1/2012

1.280

12/31/2002

2,297,946

7.750%

17,910

262

FUCM97C2

Retail

11/1/2007

0.000%

8/1/2004

263

FUCM97C2

Retail

8/1/2007

2,202,889

8.550%

20,215

264

FUCM97C2

Multifamily

7/1/2022

2,226,501

8.450%

20,047

265

FUCM97C2

Retail

5/1/2004

0.000%

4/1/2004

266

FUCM97C2

Other

5/1/2017

2,083,247

7.960%

20,432

267

FUCM97C2

Multifamily

9/1/2007

1.810

12/31/2002

2,260,131

7.550%

17,180

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 22 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

268

FUCM97C2

Multifamily

6/1/2007

0.000%

5/1/2004

269

FUCM97C2

Multifamily

3/1/2004

1.660

12/31/2000

0.000%

7/1/2002

270

FUCM97C2

Retail

11/1/2012

1.400

12/31/2000

0.000%

11/1/2002

271

FUCM97C2

Multifamily

8/1/2007

2,230,962

7.940%

17,510

272

FUCM97C2

Retail

7/1/2007

1.580

12/31/2002

2,234,891

8.100%

17,778

273

FUCM97C2

Multifamily

5/1/2004

0.000%

11/1/2003

275

FUCM97C2

Retail

5/1/2007

0.000%

10/1/2004

276

FUCM97C2

Retail

6/1/2017

1.620

12/31/2002

2,184,822

8.750%

18,291

277

FUCM97C2

Health Care

8/1/2007

0.200

6/30/2002

2,090,230

8.870%

19,305

278

FUCM97C2

Multifamily

6/1/2007

2,148,195

8.740%

18,235

279

FUCM97C2

Multifamily

11/1/2007

2,129,709

7.510%

16,098

280

FUCM97C2

Retail

10/1/2007

2,118,922

8.160%

17,097

281

FUCM97C2

Multifamily

10/1/2007

2,003,904

7.610%

16,975

282

FUCM97C2

Multifamily

9/1/2007

1.610

12/31/2002

2,120,059

8.040%

16,757

283

FUCM97C2

Retail

7/1/2017

1,800,329

7.930%

18,954

284

FUCM97C2

Retail

6/1/2017

1,771,238

7.375%

18,184

285

FUCM97C2

Multifamily

7/1/2007

2,079,499

8.190%

16,883

286

FUCM97C2

Retail

11/1/2007

0.000%

5/1/2004

287

FUCM97C2

Retail

10/1/2004

1.190

12/31/2002

0.000%

1/1/2004

288

FUCM97C2

Multifamily

8/1/2007

2,064,680

7.910%

16,369

289

FUCM97C2

Retail

8/1/2007

2,002,391

8.330%

17,861

290

FUCM97C2

Office

7/1/2007

1.690

6/30/2002

2,052,557

8.730%

18,017

291

FUCM97C2

Multifamily

5/1/2007

8.750%

17,847

2,013,291

1/1/2005

292

FUCM97C2

Multifamily

7/1/2007

0.000%

3/1/2003

293

FUCM97C2

Industrial

10/1/2007

2,057,563

8.188%

16,431

294

FUCM97C2

Multifamily

9/1/2007

1.980

12/31/2002

2,052,946

8.125%

16,335

295

FUCM97C2

Multifamily

10/1/2007

2.930

12/31/2001

0.000%

10/1/2002

296

FUCM97C2

Retail

9/1/2007

2.080

12/31/2002

1,946,384

8.540%

17,572

297

FUCM97C2

Multifamily

8/1/2007

1.960

12/31/1999

0.000%

1/12/2001

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 23 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

298

FUCM97C2

Retail

11/1/2017

1,871,775

7.500%

16,031

299

FUCM97C2

Multifamily

8/1/2025

2,009,845

8.000%

15,849

300

FUCM97C2

Multifamily

8/1/2007

1,987,237

8.090%

15,985

301

FUCM97C2

Retail

6/1/2007

0.000%

10/1/2004

302

FUCM97C2

Multifamily

6/1/2007

1,963,418

8.580%

16,460

303

FUCM97C2

Retail

11/1/2017

1,833,349

7.500%

15,702

304

FUCM97C2

Health Care

11/1/2007

794,044

8.150%

25,646

305

FUCM97C2

Multifamily

9/1/2007

1.110

12/31/2002

1,941,216

7.550%

14,755

306

FUCM97C2

Multifamily

9/1/2007

1,941,216

7.550%

14,755

307

FUCM97C2

Multifamily

6/1/2027

1,951,067

9.000%

16,897

308

FUCM97C2

Retail

4/1/2004

0.240

12/31/2002

0.000%

8/1/2003

309

FUCM97C2

Multifamily

9/1/2007

1,902,318

7.780%

14,729

310

FUCM97C2

Retail

7/1/2017

1,777,181

7.790%

15,527

311

FUCM97C2

Retail

9/1/2007

1.390

12/31/2002

1,867,007

8.150%

15,071

312

FUCM97C2

Multifamily

8/1/2004

1.840

12/31/1999

0.000%

12/12/2000

313

FUCM97C2

Multifamily

6/1/2007

1,831,723

8.625%

16,067

314

FUCM97C2

Retail

7/1/2017

1,745,880

7.790%

15,253

315

FUCM97C2

Multifamily

6/1/2007

1,856,460

8.700%

15,710

316

FUCM97C2

Multifamily

11/1/2007

0.000%

10/1/2003

317

FUCM97C2

Office

10/1/2007

1,855,350

7.680%

14,232

318

FUCM97C2

Retail

10/1/2007

1,849,565

8.280%

15,068

319

FUCM97C2

Retail

7/1/2007

1.410

12/31/2002

1,863,769

9.150%

16,309

320

FUCM97C2

Multifamily

6/1/2007

1,872,093

8.500%

15,378

321

FUCM97C2

Office

6/1/2004

0.000%

7/1/2004

322

FUCM97C2

Retail

4/1/2007

1,794,374

9.125%

16,955

323

FUCM97C2

Multifamily

10/1/2022

1.240

12/31/2002

1,743,148

7.960%

15,306

324

FUCM97C2

Retail

11/1/2017

1,711,234

7.500%

14,656

325

FUCM97C2

Retail

9/1/2017

1,706,358

7.790%

14,842

326

FUCM97C2

Office

8/1/2012

1,609,219

8.813%

17,399

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 24 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

327

FUCM97C2

Retail

11/1/2012

0.000%

3/27/2003

328

FUCM97C2

Retail

3/1/2017

1,525,659

7.765%

16,183

329

FUCM97C2

Multifamily

7/1/2017

1.880

12/31/2002

0.000%

2/1/2004

330

FUCM97C2

Retail

3/1/2016

1,482,957

8.170%

16,907

331

FUCM97C2

Lodging

7/1/2007

1,680,545

8.900%

15,815

332

FUCM97C2

Mobile Home

9/1/2015

1,457,296

8.250%

16,913

333

FUCM97C2

Multifamily

8/1/2027

1,738,435

8.625%

14,389

334

FUCM97C2

Retail

11/1/2017

1,594,804

7.500%

13,659

335

FUCM97C2

Multifamily

8/1/2007

1,685,770

8.180%

13,658

336

FUCM97C2

Retail

11/1/2016

1.060

12/31/2002

1,426,293

8.375%

15,863

337

FUCM97C2

Multifamily

10/1/2006

1,651,348

7.710%

12,846

338

FUCM97C2

Multifamily

8/1/2004

0.000%

4/1/2004

339

FUCM97C2

Health Care

1/1/2007

1,582,255

9.250%

15,415

340

FUCM97C2

Retail

11/1/2017

1,521,023

7.500%

13,027

341

FUCM97C2

Retail

5/1/2007

1,611,789

9.313%

14,311

342

FUCM97C2

Retail

9/1/2016

1,333,222

7.930%

14,627

343

FUCM97C2

Retail

12/1/2016

1.030

12/31/2002

1,394,832

8.500%

15,080

344

FUCM97C2

Multifamily

8/1/2004

0.000%

4/1/2004

345

FUCM97C2

Multifamily

7/1/2004

0.000%

6/1/2004

346

FUCM97C2

Retail

7/1/2016

1,299,317

8.070%

14,480

347

FUCM97C2

Retail

11/1/2016

1,332,407

8.813%

15,142

348

FUCM97C2

Retail

7/1/2016

1,295,185

8.070%

14,434

349

FUCM97C2

Retail

2/1/2016

1,258,693

8.070%

14,349

350

FUCM97C2

Multifamily

8/1/2004

0.000%

8/1/2004

351

FUCM97C2

Multifamily

6/1/2007

1,507,427

8.880%

12,935

352

FUCM97C2

Retail

2/1/2017

1.300

12/31/2002

1,295,154

7.590%

13,296

353

FUCM97C2

Mixed Use

11/1/2012

1,508,957

7.470%

11,712

354

FUCM97C2

Retail

10/1/2007

1,492,715

8.030%

11,774

355

FUCM97C2

Retail

9/1/2007

1,473,309

8.060%

11,807

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 25 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

356

FUCM97C2

Multifamily

6/1/2017

1.630

12/31/2002

1,288,424

8.980%

14,375

357

FUCM97C2

Office

10/1/2007

1,478,510

8.430%

12,032

358

FUCM97C2

Retail

7/1/2007

1,444,691

8.500%

12,360

359

FUCM97C2

Retail

9/1/2016

1,248,184

9.125%

14,519

360

FUCM97C2

Retail

10/1/2007

1.870

12/31/2002

0.000%

6/1/2004

361

FUCM97C2

Retail

12/1/2016

1,245,819

8.500%

13,414

362

FUCM97C2

Retail

5/1/2017

1,213,785

8.250%

13,095

363

FUCM97C2

Multifamily

7/1/2007

1.400

12/31/2002

1,424,322

8.490%

11,677

364

FUCM97C2

Retail

10/1/2016

1,205,254

7.500%

12,431

365

FUCM97C2

Retail

8/1/2016

1,234,757

8.875%

13,771

366

FUCM97C2

Lodging

9/1/2007

1,348,928

8.625%

12,246

367

FUCM97C2

Retail

10/1/2004

0.000%

9/1/2004

368

FUCM97C2

Retail

8/1/2007

1,401,138

8.240%

11,258

369

FUCM97C2

Retail

7/1/2007

1,359,024

9.375%

12,975

370

FUCM97C2

Multifamily

6/1/2007

2.540

12/31/2002

0.000%

8/1/2004

371

FUCM97C2

Retail

7/1/2007

1,014,090

9.070%

15,277

372

FUCM97C2

Retail

1/1/2017

1,189,330

7.625%

12,224

373

FUCM97C2

Multifamily

10/1/2022

1.380

12/31/2002

1,403,829

9.550%

12,431

374

FUCM97C2

Multifamily

8/1/2007

1,364,307

8.710%

11,366

375

FUCM97C2

Multifamily

8/1/2007

1,355,989

8.313%

10,957

376

FUCM97C2

Multifamily

5/1/2007

1,348,688

9.180%

11,855

377

FUCM97C2

Retail

9/1/2016

1,108,981

7.930%

12,167

378

FUCM97C2

Retail

10/1/2007

1,328,816

8.000%

10,456

379

FUCM97C2

Multifamily

11/1/2007

1,242,365

7.900%

10,713

380

FUCM97C2

Retail

10/1/2007

1,250,020

8.310%

11,094

381

FUCM97C2

Industrial

9/1/2007

1,305,694

8.090%

10,361

382

FUCM97C2

Retail

8/1/2016

1,105,525

9.125%

12,911

383

FUCM97C2

Multifamily

6/1/2007

1.320

12/31/2002

1,216,241

9.250%

11,732

384

FUCM97C2

Retail

9/1/2017

1,088,041

7.920%

11,361

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 26 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

385

FUCM97C2

Retail

3/1/2017

1,095,568

9.000%

12,373

386

FUCM97C2

Retail

8/1/2017

1,072,611

7.750%

11,142

387

FUCM97C2

Retail

2/1/2017

1,074,834

8.791%

12,059

388

FUCM97C2

Retail

2/1/2017

1,073,761

9.000%

12,173

389

FUCM97C2

Industrial

8/1/2007

1,171,218

7.983%

10,212

390

FUCM97C2

Multifamily

10/1/2007

1.110

12/31/2002

1,213,598

8.070%

9,602

391

FUCM97C2

Multifamily

10/1/2007

1.970

12/31/2000

0.000%

8/1/2001

392

FUCM97C2

Multifamily

9/1/2022

1,150,319

7.950%

9,991

393

FUCM97C2

Retail

5/1/2007

1.840

12/31/2002

1,147,347

9.010%

10,918

394

FUCM97C2

Retail

8/1/2016

990,299

8.340%

11,134

395

FUCM97C2

Self Storage

8/1/2007

2.020

12/31/2001

0.000%

10/1/2002

396

FUCM97C2

Retail

10/1/2007

1,109,437

8.640%

10,061

397

FUCM97C2

Retail

8/1/2016

950,892

8.340%

10,691

398

FUCM97C2

Retail

8/1/2016

1.060

12/31/2002

951,589

8.375%

10,717

400

FUCM97C2

Retail

5/1/2007

0.810

12/31/2002

1,059,089

9.010%

10,079

401

FUCM97C2

Health Care

7/1/2007

1.550

12/31/2000

0.000%

3/1/2002

402

FUCM97C2

Retail

2/1/2016

1.050

12/31/2002

861,277

8.500%

10,408

403

FUCM97C2

Retail

1/1/2018

949,756

8.750%

10,114

404

FUCM97C2

Retail

8/1/2016

889,567

8.340%

10,002

405

FUCM97C2

Retail

8/1/2016

1.060

12/31/2002

884,593

8.375%

9,963

406

FUCM97C2

Multifamily

7/1/2007

1.400

12/31/2002

1,030,760

8.490%

8,450

407

FUCM97C2

Retail

11/1/2007

842,710

8.010%

8,664

408

FUCM97C2

Retail

10/1/2007

950,977

8.160%

7,673

409

FUCM97C2

Retail

10/1/2015

1.050

12/31/2002

780,838

8.500%

9,254

410

FUCM97C2

Retail

8/1/2004

0.000%

8/1/2004

411

FUCM97C2

Multifamily

6/1/2007

943,274

9.000%

8,046

412

FUCM97C2

Retail

8/1/2017

821,704

8.125%

8,689

413

FUCM97C2

Office

5/1/2007

2.670

12/31/2002

0.000%

9/1/2004

414

FUCM97C2

Multifamily

10/1/2027

872,629

8.400%

7,085

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 27 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Loan Level Detail

Property

Operating

Ending

Loan

Disclosure

Type

Maturity

Statement

Principal

Note

Scheduled

Prepayment

Status

Control #

Group

Code

Date

DSCR

Date

State

Balance

Rate

P&I

Prepayment

Date

Code (1)

415

FUCM97C2

Retail

10/1/2016

733,801

9.000%

8,450

416

FUCM97C2

Retail

3/1/2017

794,993

8.125%

7,999

417

FUCM97C2

Retail

3/1/2017

736,378

8.830%

8,246

418

FUCM97C2

Lodging

10/1/2007

0.440

12/31/2000

0.000%

11/1/2002

419

FUCM97C2

Health Care

9/1/2007

0.000%

12/1/2004

420

FUCM97C2

Retail

11/1/2012

0.000%

3/27/2003

421

FUCM97C2

Retail

10/1/2007

758,941

8.310%

6,736

422

FUCM97C2

Multifamily

6/1/2007

2.510

12/31/2002

706,100

9.000%

6,115

423

FUCM97C2

Lodging

10/1/2007

0.310

12/31/2001

0.000%

1/1/2003

424

FUCM97C2

Multifamily

5/1/2007

1.660

12/31/2002

663,187

9.125%

6,358

425

FUCM97C2

Lodging

10/1/2007

0.450

12/31/2001

0.000%

12/1/2002

426

FUCM97C2

Multifamily

9/1/2027

0.660

12/31/2002

654,011

8.500%

5,429

427

FUCM97C2

Retail

11/1/2012

0.000%

3/27/2003

428

FUCM97C2

Multifamily

10/1/2007

633,897

7.620%

4,839

429

FUCM97C2

Multifamily

6/1/2007

2.000

12/31/2002

534,755

9.500%

5,242

430

FUCM97C2

Multifamily

11/1/2007

0.000%

4/1/2003

Total:

1,380,363,404

12,208,992

27,930,861

accuracy or methodology used to determine such figures.

(1) Legend:

A. P&I Adv - in Grace Period

1. P&I Adv - delinquent 1 month

3. P&I Adv - delinquent 3+ months

5. Prepaid in Full

7. Foreclosure

9. REO

11. Modification

B. P&I Adv - < one month delinq

2. P&I Adv - delinquent 2 months

4. Mat. Balloon/Assumed P&I

6. Specially Serviced

8. Bankruptcy

10. DPO

Page 28 of 28

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Chicago, IL 60603-4159

Specially Serviced Loan Detail

Ending

Specially

Disclosure

Scheduled

Interest

Maturity

Property

Serviced

Control #

Balance

Rate

Date

Type

Status Code (1)

Comments

12,438,032.67

8.100%

9/1/2007

Retail

255

8.250%

11/1/2019

Lodging

4,250,527.59

10.500%

6/1/2007

Health Care

101

5,537,789.19

9.250%

5/1/2007

Health Care

(1) Legend :

1) Request for waiver of Prepayment Penalty

4) Loan with Borrower Bankruptcy

7) Loans Paid Off

2) Payment default

5) Loan in Process of Foreclosure

8) Loans Returned to Master Servicer

3) Request for Loan Modification or Workout

6) Loan now REO Property

9) Other

Appendix A

Continue leasing efforts and review possible sale of property. Received multiple offers.

Offer has been submitted, sale case is being drafted. Property has not been widely
marketed but offer is in line with CMSLP internal value. 2004 appraisals have been
received and have been finalized. If offer is not approved, plan is to perform sealed bid
event marketed by auction specialist. Portage, Fremont, and Cumberland continue to
operate at historic occupancy and revenue levels.

Final appraisal received on 12/28. Will arrange a meeting with the Borrower and his reps
to talk about the amount and terms of any DPO. Borrower still very anxious to get
process started.

Crossed with CRIIMI Nos. 870148 and 870238. In compliance with the Settlement and
Forbearance Agreement (SFA") the Hotel was sold December 222004 and the net
proceeds are being held in the suspense account at the Master Servicer awaiting postin"g
instructions. Once the refinance of the Best Western- Keene, NH, is complete, then all
three loans will have paid off per the SFA. Loan has paid off.

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Chicago, IL 60603-4159

Specially Serviced Loan Detail

Ending

Specially

Disclosure

Scheduled

Interest

Maturity

Property

Serviced

Control #

Balance

Rate

Date

Type

Status Code (1)

Comments

3,950,478.55

7.603%

6/1/2007

Health Care

21,713,947.76

8.631%

9/1/2022

Health Care

16,152,640.83

8.690%

9/1/2004

Lodging

6,473,905.90

9.125%

7/1/2017

Industrial

(1) Legend :

1) Request for waiver of Prepayment Penalty

4) Loan with Borrower Bankruptcy

7) Loans Paid Off

2) Payment default

5) Loan in Process of Foreclosure

8) Loans Returned to Master Servicer

3) Request for Loan Modification or Workout

6) Loan now REO Property

9) Other

Appendix A

Tentative auction date is February 24, 2005. Tranzon Fox

Final appraisal received on 12/28. Will arrange a meeting with the Borrower and his reps
to talk about the amount and terms of any DPO. Borrower still very anxious to get
process started.

Negotiating P&S with Continental Hospitality, LLC. First round comments to P&S
extensive. Due Diligence clock doesn't start until P&S signed. Property far exceeds
budgeted oeprations in August and Sept due to insurance adjusters taking many rooms
after multiple hurricanes.

Senior Credit Committee reduced Modification Term to 12 months and total dollars
available to approx. $1.7M. In addition, interest rate for the deferred portion was raised
to note rate + 5%. Borrower has balked at terms and is trying to strengthen the request,
either through personal guarantees or additional cash equity.

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Chicago, IL 60603-4159

Specially Serviced Loan Detail

Ending

Specially

Disclosure

Scheduled

Interest

Maturity

Property

Serviced

Control #

Balance

Rate

Date

Type

Status Code (1)

Comments

148

0.00

8.250%

11/1/2019

Lodging

337

1,651,348.15

7.710%

10/1/2006

Multifamily

369

1,359,024.36

9.375%

7/1/2007

Retail

9,608,146.68

10.125%

7/1/2019

Retail

13,626,192.27

8.050%

9/1/2022

Multifamily

(1) Legend :

1) Request for waiver of Prepayment Penalty

4) Loan with Borrower Bankruptcy

7) Loans Paid Off

2) Payment default

5) Loan in Process of Foreclosure

8) Loans Returned to Master Servicer

3) Request for Loan Modification or Workout

6) Loan now REO Property

9) Other

Appendix A

Crossed with CRIIMI Nos. 870238 and 870255. In compliance with the Settlement and
Forbearance Agreement (SFA") the Hotel was sold December 222004 and the net
proceeds are being held in the suspense account at the Master Servicer awaiting postin"g
instructions. Once the refinance of the Best Western- Keene, NH, is complete, then all
three loans will have paid off per the SFA. Loan has paid off.

Court-ordered auction by receiver originally scheduled for October delayed due to title
problems. We are near resolution and anticipate an auction by end of March.
Meanwhile, insurance claim for last year's fire damage continues.

Owner agreed to pay back rent and late charges for Oct, Nov, & December 2004 to bring
loan current. If check clears, will start the correction phase.

Executed mod/forbearance agreement thru 8/31/05. Owner has thru 8/31/05 to sell or
refinance the asset to provide payoff of loan. Owner and Lender agreed to a Tenant rent
reduction of approx. 25% to retain the tenant.

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Chicago, IL 60603-4159

Specially Serviced Loan Detail

Ending

Specially

Disclosure

Scheduled

Interest

Maturity

Property

Serviced

Control #

Balance

Rate

Date

Type

Status Code (1)

Comments

238

0.00

8.250%

11/1/2019

Lodging

249

2,536,983.37

8.620%

8/1/2007

Multifamily

204

2,880,534.00

8.625%

10/1/2017

Lodging

9,309,554.82

10.125%

7/1/2019

Retail

(1) Legend :

1) Request for waiver of Prepayment Penalty

4) Loan with Borrower Bankruptcy

7) Loans Paid Off

2) Payment default

5) Loan in Process of Foreclosure

8) Loans Returned to Master Servicer

3) Request for Loan Modification or Workout

6) Loan now REO Property

9) Other

Appendix A

Receiver improving the maintenance, staffing up property and putting in accounting
controls.

Crossed with CRIIMI Nos. 870148 and 870255. In compliance with the Settlement and
Forbearance Agreement (SFA") the Hotel is being refinances and the net proceeds will be
held in the suspense account at the Master Servicer. Once the refinance of "the Best
Western is complete, then all three loans will have paid off per the SFA, and posting
instructions will be completed. Loan has paid off.

Forebearance agreement pending wherein borrower allows receiver to continue collecting
rents and must pay-off in full by 9/1/05 or else consents to immediate foreclosure/relief
from stay.

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

First Union National Bank, Master Servicer

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepy (800) 246-5761

**Revised**

ABN AMRO Acct: 67-7852-70-9

135 S. LaSalle Street Suite 1625
Chicago, IL 60603-4159

Modified Loan Detail

Disclosure

Modification

Control #

Date

Description

369

11/25/2002

171

11/25/2002

Appendix B

Loan transferred to special servicer on 1/23/2002 due to bankruptcy. Borrower continued to make interest only and escrow payments for one year. The loan was modified on 11/25/2002 per the direction of
the bankrutcy court. The maturity date was extended and the borrower began making full P&I payment in December 2002.CW35

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Chicago, IL 60603-4159

Realized Loss Detail

Beginning

Gross Proceeds

Aggregate

Net

Net Proceeds

Dist.

Disclosure

Appraisal

Scheduled

Gross

as a % of

Liquidation

as a % of

Realized

Date

Control #

Date

Value

Balance

Proceeds

Sched Principal

Expenses *

Proceeds

Sched. Balance

Loss

11/19/2001

211

N/A

3,204,655.11

2,359,078.23

73.614%

311,139.22

2,047,939.01

63.905%

1,156,716.10

8/19/2002

247

N/A

2,605,611.78

1,783,187.99

68.436%

270,085.06

1,513,102.93

58.071%

1,092,508.85

11/18/2002

N/A

10,523,152.09

6,000,000.00

57.017%

513,271.72

5,486,728.28

52.140%

5,036,423.81

8/18/2003

198

N/A

3,411,452.08

1,906,497.03

55.885%

543,820.74

1,362,676.29

39.944%

2,048,775.79

8/18/2003

308

N/A

1,984,073.76

1,989,994.64

100.298%

557,628.50

1,432,366.14

72.193%

551,707.62

10/20/2003

N/A

11,149,063.65

6,000,000.00

53.816%

834,394.53

5,165,605.47

46.332%

5,983,458.18

10/20/2003

239

N/A

2,585,743.42

1,397,559.62

54.049%

1,289,780.35

107,779.27

4.168%

2,477,964.15

4/19/2004

217

N/A

3,017,372.45

2,051,497.01

67.990%

294,882.85

1,756,614.16

58.217%

1,263,758.29

5/18/2004

257

N/A

2,460,266.56

1,374,873.50

55.883%

1,374,873.50

0.00

0.000%

2,460,266.56

6/18/2004

108

N/A

5,429,161.09

5,638,573.78

103.857%

222,485.47

5,416,088.31

99.759%

13,072.78

Current Total

0.00

Cumulative

0.00

30,501,261.80

6,212,361.94

24,288,899.86

22,084,652.13

Appendix C

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

First Union Commercial Mortgage Securities, Inc.

Statement Date:

01/18/05

Wachovia Bank, National Association

Payment Date:

01/18/05

Commercial Mortgage Pass-Through Certificates

Prior Payment:

12/20/04

Series 1997-C2

Record Date:

12/31/04

Administrator:

Revised Date:

04/25/05

Andy Streepey (800) 246-5761

**Revised**

ABN AMRO Acct: 720129.2

135 S. LaSalle Street Suite 1625

Chicago, IL 60603-4159

Interest Adjustment Summary

Shortfalls Allocated to the Bonds:

Excess Allocated to the Bonds:

Net Prepayment Interest Shortfalls Allocated to the Bonds

0.00 Recovered Realized Losses

0.00

Special Servicing Fees

25,712.68 Prepayment Interest Excess Due the Bonds

342,405.37

Principal Recovery Fee

0.00 Yield Maintenance Penalties Due to the Bonds

2,051,015.19

Liquidation Fees

0.00 Recovered Trust Fund Expenses Due to the Bonds

0.00

Legal Fees

0.00 Prepayment Penalties Due to the Bonds

47,833.29

Misc. Fees & Expenses Paid by/to Servicer

0.00 Recovered ASER Interest Due to the Bonds

0.00

Interest Paid to Servicer on Outstanding Advances

1,770.68 Recovered Interest Due to the Bonds

0.00

ASER Interest Advance Reduction

178,535.81 Total Excess Allocated to the Bonds

2,441,253.85

Interest Not Advanced (Current Period)

0.00

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

0.00

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

0.00

Recovered Realized Losses Correction

0.00

Total Shortfall Allocated to the Bonds

206,019.17

Total Excess Allocated to the Bonds

2,441,253.85

Less Total Shortfall Allocated to the Bonds

206,019.17

Total Interest Adjustment to the Bonds

2,235,234.68

Appendix D