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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark one)
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2004
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Commission File Number: 333-108944-01
Wachovia Commericial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2003-C08
(Exact name of registrant as specified in its charter)
New York 54-6593425
(State or other jurisdiction of 54-2135796
incorporation or organization) 54-2135797
(I.R.S. Employer
Identification No.)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
Securities registered pursuant to Section 12(b) of the Act:
NONE.
Securities registered pursuant to Section 12(g) of the Act:
NONE.
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
Yes X No ___
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.
Not applicable.
Indicate by check mark whether the registrant is an accelerated filer
(as defined in Exchange Act Rule 12b-2).
Yes ___ No X
State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which
the common equity was last sold, or the average bid and asked price of
such common equity, as of the last business day of the registrant's most
recently completed second fiscal quarter.
Not applicable.
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.
Not applicable.
Documents Incorporated by Reference
List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the
document is incorporated: (1)Any annual report to security holders; (2)
Any proxy or information statement; and (3)Any prospectus filed pursuant
to Rule 424(b) or (c) under the Securities Act of 1933. The listed
documents should be clearly described for identification purposes (e.g.
annual report to security holders for fiscal year ended December 24, 1980).
Not applicable.
PART I
Item 1. Business.
Omitted.
Item 2. Properties.
See Item 15(a), Exhibits 99.1, 99.2, and 99.3, for information
provided in lieu of information required by Item 102 of
Regulation S-K.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings
involving the trust created under the Pooling and Servicing
Agreement (the Trust), the Trustee, the Servicer or the
registrant with respect to the Trust other than routine
litigation incidental to the duties of the respective parties.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5. Market for registrant's Common Equity and Related Stockholder
Matters and Issuer Purchases of Equity Securities.
No established public trading market for the Certificates exists.
Records provided to the Trust by the DTC and the Trustee
indicate that as of December 31, 2004, the total number of holders
of record for the Series of Certificates is 32.
Item 6. Selected Financial Data.
Omitted.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.
Omitted.
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8. Financial Statements and Supplementary Data.
See Item 15(a), Exhibits 99.1, 99.2, 99.3, for information
provided in lieu of information required by Item 302 of
Regulation S-K.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.
None.
Item 9A. Controls and Procedures.
Not applicable.
Item 9B. Other Information.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11. Executive Compensation.
Not applicable.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
Not applicable.
Item 13. Certain Relationships and Related Transactions.
Not applicable.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15. Exhibits, Financial Statement Schedules.
(a) Exhibits
(31.1) Rule 13a-14(a)/15d-14(a) Certification
(99.1) Annual Independent Accountants' Servicing Reports concerning
servicing activities.
a) Clarion Partners, LLC, as Special Servicer
b) Wachovia Bank, National Association, as Master Servicer
(99.2) Report of Management as to Compliance with Minimum Servicing
Standards.
a) Clarion Partners, LLC, as Special Servicer
b) Wachovia Bank, National Association, as Master Servicer
(99.3) Annual Statements of Compliance under the Pooling and Servicing
Agreements.
a) Clarion Partners, LLC, as Special Servicer
b) Wachovia Bank, National Association, as Master Servicer
(99.4) Aggregate Statement of Principal and Interest Distributions to
Certificate Holders.
(b) Not applicable.
(c) Omitted.
Filed herewith.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized:
Wachovia Commericial Mortgage Securities, Inc.
Commercial Mortgage Pass-Through Certificates
Series 2003-C08
(Registrant)
Signed: Wachovia Commercial Mortgage Securities, Inc. as Depositor
By: Charles L. Culbreth, Managing Director
By: /s/ Charles L. Culbreth, Managing Director
Dated: March 30, 2005
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(i) No annual report is provided to the Certificateholders other than
with respect to aggregate principal and interest distributions.
(a)(ii) No proxy statement, form of proxy or other proxy soliciting
material has been sent to any Certificateholder with respect to any
annual or other meeting of Certificateholders.
Exhibit Index
Exhibit No.
Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification
CERTIFICATION
Wachovia Commercial Mortgage Securities, Inc.,
Commercial Mortgage Pass-Through Certificates
Series 2003-C8 (the "Trust")
I, Charles L. Culbreth, a Managing Director of Wachovia Commercial
Mortgage Securities, Inc., the depositor into the above-referenced Trust,
certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on
Form 8-K containing distribution date reports filed in respect of
periods included in the year covered by this annual report, of the
Trust;
2. Based on my knowledge, the information in these reports, taken as a
whole, does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made,
not misleading as of the last day of the period covered by this
annual report;
3. Based on my knowledge, the servicing information required to be
provided to the trustee by the master servicer and the special
servicer under the pooling and servicing, agreement for inclusion in
these reports is included in these reports;
4. Based on my knowledge and upon the annual compliance statement
included in this annual report and required to be delivered to the
trustee in accordance with the terms of the pooling and servicing
agreement, and except as disclosed in this annual report, the master
servicer and the special servicer have fulfilled their obligations
under the pooling and servicing agreement; and
5. This annual report discloses all significant deficiencies relating to
the master servicer's or special servicer's compliance with the
minimum servicing standards based upon the report provided by an
independent public accountant, after conducting a review in
compliance with the Uniform Single Attestation Program for Mortgage
Bankers or similar procedure, as set forth in the pooling and
servicing agreement, that is included in this annual report.
In giving the certifications above, I have reasonably relied on
information provided to me by the following unaffiliated parties:
Clarion Partners, LLC, and Wells Fargo Bank Minnesota, N.A.
Date: March 30, 2005
/s/ Charles L. Culbreth
Signature
Charles L Culbreth, Managing Director
Wachovia Commercial Mortgage Securities, Inc.
EX-99.1 (a)
(logo) ERNST & YOUNG
Ernst & Young LLP
5 Times Square
New York, NY 10036-6530
Phone: (212) 773-3000
www.ey.com
Report of Independent Certified Public Accountants
To Clarion Partners, LLC
We have examined management's assertion, included in the accompanying report
titled Report of Management, that Clarion Partners, LLC (the "Company") complied
with the servicing standards identified in Exhibit A to the Report of Management
(the "specified minimum servicing standards") as set forth in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers (USAP) as of and for the year ended December 31, 2004. Management is
responsible for the Company's compliance with those specified minimum servicing
standards. Our responsibility is to express an opinion on management's assertion
about the Company's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
specified minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Company's compliance with specified minimum servicing
standards.
In our opinion, management's assertion that the Company complied with the
aforementioned specified minimum servicing standards as of and for the year
ended December 31, 2004, is fairly stated in all material respects.
/s/ Ernst & Young LLP
March 14, 2005
A Member Practice of Ernst & Young Global
Exhibit A
Specified Minimum Servicing Standards
Minimum Servicing Standards Applicable to
Clarion Partners, LLC as Special Servicer
Not
Minimum Servicing Standards Applicable Applicable
I. Custodial Bank Accounts
1. Reconciliations shall be prepared on a
monthly basis for all custodial bank accounts X
and related bank clearing accounts.
2. Funds of the servicing entity shall be advanced
in cases where there is an overdraft in an X
investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a
federally insured depository institution in trust X
for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall
be returned to the mortgagor with thirty (30) X
calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the
custodial bank accounts and related bank clearing X
accounts within two business days of receipt.
2. Mortgage payments made in accordance with the
mortgagor's loan documents shall be posted to the
applicable mortgagor records within two business X
days of receipt.
3. Mortgage payments shall be allocated to principal,
interest, insurance, taxes or other escrow items X
in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall
be allocated in accordance with the mortgagor's X
loan documents.
III. Disbursements
1. Disbursements made via wire transfer on behalf of
a mortgagor or investor shall be made only by X
authorized personnel.
2. Disbursements made on behalf of mortgagor or
investor shall be posted within two business days
to the mortgagor's or investor's records maintained X
by the servicing entity.
3. Tax and insurance payments shall be made on or
before the penalty or insurance policy expiration
dates, as indicated on tax bills and insurance
premium notices, respectively, provided that such X
support has been received by the servicing entity at
least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction
with the payment of any tax bill or insurance
premium notice shall be paid from the servicing
entity's funds and not charged to the mortgagor, X
unless the late payment was due to the mortgagor's
error or omission.
5. Amounts remitted to investors per the servicer's
investor reports shall agree with canceled checks,
or other form of payment, or custodial bank X
statements.
6. Unused checks shall be safeguarded so as to
prevent unauthorized access. X
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree
with or reconcile to investors' records on a
monthly basis as to the total unpaid principal X
balance and number of loans serviced by the
servicing entity.
V. Mortgagor Loan Accounting
1. The servicing entity's mortgage loan records shall
agree with, or reconcile to, the records of
mortgagors with respect to the unpaid principal X
balance on a monthly basis.
2. Adjustments on ARM loans shall be computed
based on the related mortgage note and any ARM X
rider.
3. Escrow accounts shall be analyzed, in accordance
with the mortgagor's loan documents, on at least X
an annual basis.
4. Interest on escrow accounts shall be paid, or
credited, to mortgagors in accordance with the
applicable state laws. (A compilation of state laws
relating to the payment of interest on escrow X
accounts may be obtained through the MBA's
FAX ON DEMAND service. For more information,
contact MBA.
VI. Delinquencies
1. Records documenting collection efforts shall be
maintained during the period a loan is in default
and shall be updated at least monthly. Such records
shall describe the entity's activities in
monitoring delinquent loans including, for example, X
phone calls, letters and mortgage payment
rescheduling plans in cases where the delinquency
is deemed temporary (e.g., illness or unemployment).
VII. Insurance Policies
1. A fidelity bond and errors and omissions policy
shall be in effect on the servicing entity
throughout the reporting period in the amount of X
coverage represented to investors in management's
assertion.
EX-99.1 (b)
(logo) KMPG
KPMG LLP
Suite 2300
Three Wachovia Center
401 South Tryon Street
Charlotte, NC 28202-1911
Independent Accountants' Report
The Board of Directors
Wachovia Bank, National Association:
We have examined management's assertion, included in the accompanying management
assertion, that the Commercial Real Estate Servicing Division of Wachovia Bank,
National Association (the Bank) complied with the minimum servicing standards
set forth in the Mortgage Bankers Association of America's (MBA's) Uniform
Single Attestation Program for Mortgage Bankers, except for minimum servicing
standards V.4 and VI.1, which the MBA has interpreted as being inapplicable to
the servicing of commercial and multifamily loans, as of and for the year ended
December 31, 2004. Management is responsible for the Bank's compliance with
those minimum servicing standards. Our responsibility is to express an opinion
on management's assertion about the Bank's compliance based on our examination.
Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about the Bank's
compliance with the minimum servicing standards specified above and performing
such other procedures as we considered necessary in the circumstances. We
believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Bank's compliance with
the minimum servicing standards.
In our opinion, management's assertion that the Bank has complied with the
aforementioned minimum servicing standards as of and for the year ended
December 31, 2004 is fairly stated, in all material respects.
/s/ KPMG LLP
March 10, 2005
KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative.
EX-99.2 (a)
(logo) ING
REAL ESTATE
INVESTMENT MANAGEMENT
Management's Assertion on Compliance with the Specified Minimum Servicing
Standards set forth in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers (USAP)
Report of Management
We as members of management of Clarion Partners, LLC (the "Company") are
responsible for complying with the servicing standards identified in the
attached Exhibit A (the "specified minimum servicing standards") as set forth
in the Mortgage Bankers Association of America's Uniform Single Attestation
Program for Mortgage Bankers (USAP). We are also responsible for establishing
and maintaining effective internal control over compliance with these specified
minimum servicing standards. We have performed an evaluation of the Company's
compliance with the specified minimum servicing standards as of and for the year
ended December 31, 2004. Based on this evaluation, we assert that for the year
ended December 31, 2004, the Company complied, in all material respects, with
the specified minimum servicing standards. As of and for the year ended
December 31, 2004, the Company had in effect fidelity bond coverage in the
amount of $10,000,000 and an errors and omissions policy in the amount of
$25,000,000.
Very truly yours,
/s/ Bruce G. Morrison
Mr. Bruce G. Morrison
Managing Director
March 14, 2005
ING CLARION
230 Park Avenue, New York, NY 10169
T 212.883.2517 F 212.883.2817
E bruce.morrison@ingclarion.com
www.ingclarlon.com
Exhibit A
Specified Minimum Servicing Standards
Minimum Servicing Standards Applicable to
Clarion Partners, LLC as Special Servicer
Not
Minimum Servicing Standards Applicable Applicable
I. Custodial Bank Accounts
1. Reconciliations shall be prepared on a
monthly basis for all custodial bank accounts X
and related bank clearing accounts.
2. Funds of the servicing entity shall be advanced
in cases where there is an overdraft in an X
investor's or a mortgagor's account.
3. Each custodial account shall be maintained at a
federally insured depository institution in trust X
for the applicable investor.
4. Escrow funds held in trust for a mortgagor shall
be returned to the mortgagor with thirty (30) X
calendar days of payoff of the mortgage loan.
II. Mortgage Payments
1. Mortgage payments shall be deposited into the
custodial bank accounts and related bank clearing X
accounts within two business days of receipt.
2. Mortgage payments made in accordance with the
mortgagor's loan documents shall be posted to the
applicable mortgagor records within two business X
days of receipt.
3. Mortgage payments shall be allocated to principal,
interest, insurance, taxes or other escrow items X
in accordance with the mortgagor's loan documents.
4. Mortgage payments identified as loan payoffs shall
be allocated in accordance with the mortgagor's X
loan documents.
III. Disbursements
1. Disbursements made via wire transfer on behalf of
a mortgagor or investor shall be made only by X
authorized personnel.
2. Disbursements made on behalf of mortgagor or
investor shall be posted within two business days
to the mortgagor's or investor's records maintained X
by the servicing entity.
3. Tax and insurance payments shall be made on or
before the penalty or insurance policy expiration
dates, as indicated on tax bills and insurance
premium notices, respectively, provided that such X
support has been received by the servicing entity at
least thirty (30) calendar days prior to these dates.
4. Any late payment penalties paid in conjunction
with the payment of any tax bill or insurance
premium notice shall be paid from the servicing
entity's funds and not charged to the mortgagor, X
unless the late payment was due to the mortgagor's
error or omission.
5. Amounts remitted to investors per the servicer's
investor reports shall agree with canceled checks,
or other form of payment, or custodial bank X
statements.
6. Unused checks shall be safeguarded so as to
prevent unauthorized access. X
IV. Investor Accounting and Reporting
1. The servicing entity's investor reports shall agree
with or reconcile to investors' records on a
monthly basis as to the total unpaid principal X
balance and number of loans serviced by the
servicing entity.
V. Mortgagor Loan Accounting
1. The servicing entity's mortgage loan records shall
agree with, or reconcile to, the records of
mortgagors with respect to the unpaid principal X
balance on a monthly basis.
2. Adjustments on ARM loans shall be computed
based on the related mortgage note and any ARM X
rider.
3. Escrow accounts shall be analyzed, in accordance
with the mortgagor's loan documents, on at least X
an annual basis.
4. Interest on escrow accounts shall be paid, or
credited, to mortgagors in accordance with the
applicable state laws. (A compilation of state laws
relating to the payment of interest on escrow X
accounts may be obtained through the MBA's
FAX ON DEMAND service. For more information,
contact MBA.
VI. Delinquencies
1. Records documenting collection efforts shall be
maintained during the period a loan is in default
and shall be updated at least monthly. Such records
shall describe the entity's activities in
monitoring delinquent loans including, for example, X
phone calls, letters and mortgage payment
rescheduling plans in cases where the delinquency
is deemed temporary (e.g., illness or unemployment).
VII. Insurance Policies
1. A fidelity bond and errors and omissions policy
shall be in effect on the servicing entity
throughout the reporting period in the amount of X
coverage represented to investors in management's
assertion.
EX-99.2 (b)
Wachovia Securities
8739 Research Drive, URP4
Charlotte, NC 28288
(logo) WACHOVIA SECURITIES
Management Assertion
As of and for the year ended December 31, 2004, the Commercial Real Estate
Servicing Division of Wachovia Bank, National Association (the Bank) has
complied in all material respects with the minimum servicing standards set forth
in the Mortgage Bankers Association of America's (MBA's) Uniform Single
Attestation Program for Mortgage Bankers, except for minimum servicing standards
V.4. and VI.1., which the MBA has interpreted as being inapplicable to the
servicing of commercial and multifamily loans. As of and for this same period,
the Bank had in effect a fidelity bond and errors and omissions policy in the
amount of $200 million and $25 million, respectively.
/s/ Alan Kronovet
Alan Kronovet
Managing Director
Wachovia Bank, National Association
3-8-05
Date
/s/ Clyde Alexander
Clyde Alexander
Director
Wachovia Bank, National Association
3-8-05
Date
/s/ Tim Steward
Tim Steward
Director
Wachovia Bank, National Association
3-8-05
Date
/s/ Tim Ryan
Tim Ryan
Director
Wachovia Bank, National Association
3-8-05
Date
EX-99.3 (a)
(logo) ING
REAL ESTATE
INVESTMENT MANAGEMENT
March 14, 2005
Wells Fargo Bank, N.A.
Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045
Attn: Corporate Trust Services, Wachovia Bank
Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates Series 2003-C8
Wachovia Bank, National Association NC 1075
8739 Research Drive URP4
Charlotte, NC 28262
Attn: Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates,
Series 2003-C8
Moody's Investors Service, Inc.
99 Church Street
New York, NY 10007
Attn: CMBS Surveillance Group
Citigroup Global Markets
388 Greenwich Street, 11th Floor
New York, NY 10013
Attn: Mr. David Tibbals
Goldman Sachs & Co.
85 Broad Street
New York, NY 10004
Attn: Rolf Edwards
Wachovia Commercial Mortgage
Securities, Inc.
301 College Street
Charlotte, NC 28288
Attn: William J. Cohane, Director
Clarion Capital, LLC
230 Park Avenue 12th Floor
New York, NY 10169
Attn: Stephen Baines
S & P Ratings Services
55 Water Street, 10th Floor
New York, NY 10041
Attn: CMBS Suveillance Department
ABN AMRO Incorporated
55 East 52nd Street
New York, NY 10055
Attn: Frank Forelle
Morgan Stanley & Co. Incorporated
1585 Broadway
New York, NY 10036
Attn: Andrew Berman
RE: Wachovia Commercial Mortgage Securities, Inc., Commercial Mortgage
Pass-Through Certificates Series 2003-C8
Dear Sir or Madam:
This Officer's Certificate is provided to you by Clarion Partners, LLC
("Clarion") pursuant to Section 3.14 of that certain Pooling and Servicing
Agreement ("PSA") dated as of November 1, 2003 relative to the above referenced
securitization for which Clarion acts as Special Servicer. Capitalized terms
used herein shall bear the meaning ascribed to them in the PSA unless otherwise
defined in this letter.
The undersigned officer, on behalf of Clarion, hereby informs you that (i) a
review of the activities of the Special Servicer and of its performance under
this Agreement has been made under such officer's supervision, (ii) to the best
of such officer's knowledge, based on such review, the Special Servicer has
fulfilled all of its obligations under this Agreement in all material respects
throughout such year, or, if there has been a default in the fulfillment of any
such obligation, it has been noted herein, and (iii) the Special Servicer has
received no notice regarding qualification, or challenging the status, of
REMIC I or REMIC II as a REMIC under the REMIC Provisions or of the Grantor
Trust as a "grantor trust" for income tax purposes under the Grantor Trust
Provisions from the Internal Revenue Service or any other governmental agency
or body.
Sincerely,
Clarion Partners, LLC
A New York limited liability company,
its authorized agent
By: /s/ Bruce G. Morrison
Bruce G. Morrison
Authorized Signatory
ING CLARION
230 Park Avenue, New York, NY 10169
T 212.883.2517 F 212.883.2817
E bruce.morrison@ingclarion.com
www.ingclarion.com
EX-99.3 (b)
Wachovia Bank, National Association
8739 Research Drive, URP4
Charlotte, NC 28288-1075
(logo)
WACHOVIA SECURITIES
OFFICER'S CERTIFICATE
Reference is hereby made to that certain Pooling and Servicing Agreement
dated as of November 1, 2003, by and among Wachovia Commercial Mortgage
Securities, Inc., as Depositor, Wachovia Bank National Association, as Master
Servicer, Clarion Partners, Inc., as Special Servicer, and Wells Fargo Bank
Minnesota, N.A., as Trustee, with respect to Commercial Mortgage Pass-Through
Certificates, Series 2003-C8 (the "Agreement"). Capitalized terms used herein
not otherwise defined shall have the meanings assigned in the Agreement.
Pursuant to Section 3.13 of this Agreement, Timothy E. Steward and Clyde M.
Alexander, Directors of the Master Servicer, do hereby certify that:
1. A review of the activities of the Master Servicer during the period from
January 1, 2004 through December 31, 2004 and of its performance under
the Agreement during such period has been made under our supervision; and
2. To the best of our knowledge, based on such review, the Master Servicer
has fulfilled all of its material obligations under this Agreement in all
material respects throughout the period January 1, 2004 through December
31, 2004; and
3. The Master Servicer has received no notice regarding qualification, or
challenging the status, of either REMIC I or REMIC II as a REMIC under
the REMIC Provisions or of the Grantor Trust as a "grantor trust" for
income tax purposes under the Grantor Trust Provisions from the Internal
Revenue Service or any other governmental agency or body.
IN WITNESS WHEREOF, the undersigned have executed this Certificate as of the
11th day of March 2005.
/s/ Timothy E. Steward
Timothy E. Steward, Director
Wachovia Bank National Association
/s/ Clyde M. Alexander
Clyde M. Alexander, Director
Wachovia Bank National Association
Ex-99.4
Schedule of Year-To-Date Principal and Interest Distributions to
Certificateholders
Class Interest Principal Losses Ending Balance
A-1 5,440,278.24 12,684,828.14 0.00 151,034,251.68
A-2 7,264,257.00 0.00 0.00 186,550,000.00
A-3 10,745,254.08 0.00 0.00 241,738,000.00
A-4 10,578,482.52 0.00 0.00 213,104,000.00
B 1,470,118.08 0.00 0.00 29,227,000.00
C 649,152.03 0.00 0.00 13,396,000.00
D 1,368,481.85 0.00 0.00 28,009,000.00
E 665,227.23 0.00 0.00 13,396,000.00
F 806,726.34 0.00 0.00 15,831,000.00
G 620,574.40 0.00 0.00 12,178,000.00
H 806,726.34 0.00 0.00 15,831,000.00
J 372,354.81 0.00 0.00 7,307,000.00
K 310,287.20 0.00 0.00 6,089,000.00
L 248,219.58 0.00 0.00 4,871,000.00
M 124,135.29 0.00 0.00 2,436,000.00
N 248,219.58 0.00 0.00 4,871,000.00
O 124,135.29 0.00 0.00 2,436,000.00
P 620,589.37 0.00 0.00 12,178,293.84
R-I 0.00 0.00 0.00 0.00
R-II 0.00 0.00 0.00 0.00
X-C 432,419.02 0.00 0.00 960,482,545.52
X-P 6,402,337.07 0.00 0.00 772,301,000.00