UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE 

ACT OF 1934 

For the fiscal year ended  December 31, 2001

Commission file number 333-58562-02

Structured Asset Securities Corporation

LB-UBS Commercial Mortgage Trust 2001-C3

Commercial Mortgage Pass-Through Certificates Series 2001-C3

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of  incorporation or organization)

74-2440858

(I.R.S. Employer  Identification No.)

 

200 Vesey Street, New York, New York    

(Address of principal executive offices) 

10285

(Zip Code)

Registrant's telephone number, including area code:  (212) 526-7000

Securities registered pursuant to Section 12(b) 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 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

State the aggregate market value of the voting and non-voting common equity held 

by non-affiliates of the registrant. The aggregate market value shall be 

computed by reference to the price at which the common equity was sold, or the 

average bid and asked prices of such common equity, as of a specified date 

within 60 days prior to the date of filing. 

	Not Applicable

 

 

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

Indicate the number of shares outstanding of each of the registrant's classes of 

common stock, as of the latest practicable date. 

	Not Applicable

 

      					PART I 

   		   

     Item 1.	Business.

		Not applicable

		       

      Item 2.	Properties.

		Not applicable

		      

      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.

      		Not applicable. 

 

      Item 6.	Selected Financial Data.

      		Not applicable. 

 

      Item 7.	Management's Discussion and Analysis of Financial Condition and 

      		Results of Operation.

      		Not applicable. 

 

      Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.

      		Not applicable. 

 

      Item 8.	Financial Statements and Supplementary Data.

		

       		Not applicable.

 

      Item 9.	Changes in and Disagreements With Accountants on Accounting and 

      		Financial Disclosure.

      		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. 

 

 

				PART IV

 

      Item 14.	Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

	(a)	Exhibits

99.1  Annual Independent Accountant's Servicing Report for the year ended December 31, 2001.

       a.  First Union National Bank, as Servicer

       b.  Lennar Partners, Inc. as Special Servicer

			

99.2  Report of Management as to compliance with minimum servicing standards for 

         the year ended December 31, 2001.

      a.  First Union National Bank, as Servicer 

      b.  Lennar Partners, Inc. as Special Servicer 

99.3  Annual Statement of Compliance for the year ended December 31, 2001.

      a.  First Union National Bank, as Servicer

      b.  Lennar Partners, Inc. as Special Servicer

99.4  Aggregate Statement of Principal and Interest Distributions to Certificateholders as of December 31, 2001.

 

Reports on Form 8-K were filed during the last quarter of 2001 to report distributions to Investors on September 17, 2001, October 17, 2001, November 19, 2001 and December 17, 2001. 

 

 

				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. 

LaSalle Bank National Association, in its

capacity as Trustee under the Pooling and

Servicing Agreement on behalf of 

Structured Asset Securities Corporation

LB-UBS Commercial Mortgage Trust 2001-C3

Commercial Mortgage Pass-Through Certificates Series 2001-C3

 

 

By:	/s/  	Russell Goldenberg

	-----------------------------------

		Russell Goldenberg

		Group Senior Vice President

Date:	October  9, 2002

Form of Certification 

 

I, Russell Goldenberg, certify that

 

I have reviewed this annual report on form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of period included in the year covered by this annual report, of  Structured Asset Securities Corporation;

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, not misleading as of the last day of the period covered by this annual report;

Based on my knowledge, the servicing information required to be provided to the trustee by the 

servicer under the pooling and servicing agreement is included in these reports;

 

By:	/s/  	Russell Goldenberg

	-----------------------------------

		Russell Goldenberg

		Group Senior Vice President

Date:	October 9, 2002