|L
ENNAR
P
ARTNERS
An LNR Company
March 1, 2005 Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 Attention:
Corporate Trust Services (CMBS) - Wachovia Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates, FUNB 2001-C3
Re:
Annual Independent Public Accountant's Servicing Report Pooling and Servicing Agreement First Union Commercial Mortgage Securities, Inc., Commercial Mortgage Pass Through Certificates, Series 2001-C3
To Whom It May Concern: As of and for the year ended December 31, 2004, Lennar Partners, Inc. has complied in all material respects with the applicable minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers applicable to the commercial and multifamily mortgages for the Special Servicer as noted in the attachment to this assertion. As of and for this same period, Lennar Partners, Inc. had in effect a fidelity bond in the amount of $10,000,000 and an errors and omissions policy in the amount of $10,000,000. Sincerely, LENNAR PARTNERS, INC. /s/ Susan K. ChapmanSusan K. Chapman Vice President cc:
Wachovia Bank, NA NC 1075, 8739 Research Drive-URP4 Charlotte, NC 28202 Wachovia National Bank Commercial Mortgage Trust

1601 Washington Avenue - Suite 700 - Miami Beach, Florida 33139
Telephone: (305) 695-5600 - Fax: (305) 695-5601                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
|FIJNB 2001-C3 March 1, 2005 Page 2
Wachovia Commercial Mortgage Securities, Inc. One Wachovia Center, DC6 Charlotte, NC 28202 William J. Cohane Fitch Ratings, Inc. One State Street Plaza, 31St Floor New York, NY 10041-0003 Commercial Mortgage-Backed Securities Group Standard & Poor's Rating Services, Inc. 55 Water Street New York, NY 10041-0003 CMBS Surveillance Group Wachovia Bank, NA One Wachovia Center, DC6 Charlotte, NC 28202 Mr. William J. Cohane Deutsche Banc Alex. Brown Inc 1301 Avenue of the Americas, 8th Floor New York, NY 10019 Jeff Welch ABN AMRO Incorporated 55 East 52nd Street New York, NY 10055 Frank Forelle                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|
|Mortgage Bankers Association of America

Uniform Single Attestation Program for Mortgage Bankers

Minimum Servicing Standards Applicable to
Lennar Partners, Inc. as Special Servicer for

FUNB 2001-C3

Minimum Servicing Standards



Applicable
Not Applicable

I. Custodial Bank Accounts 1. Reconciliations shall be prepared on a monthly basis for all



X
custodial bank accounts and related bank clearing accounts. 2. Funds of the servicing entity shall be advanced in cases where


X
there is an overdraft in an investor's or a mortgagor's account. 3. Each custodial account shall be maintained at a federally



X
insured depository institution in trust for the applicable investor. 4. Escrow funds held in trust for a mortgagor shall be returned


X
to the mortgagor within thirty (30) calendar days of payoff of  the mortgage loan. II. Mortgage Payments 1.

Mortgage payments shall be deposited into the custodial bank


X
accounts and related bank clearing accounts within two business days of receipt. 2.

Mortgage payments made in accordance with the mortgagor's


X
loan documents shall be posted to the applicable mortgagor records within two business days of receipt. 3.

Mortgage payments shall be allocated to principal, interest,
X
insurance, taxes or other escrow items in accordance with the mortgagor's loan documents. 4.

Mortgage payments identified as loan payoffs shall be

X
allocated in accordance with the mortgagor's loan documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|
|Minimum Servicing Standards



Applicable
Not Applicable

III. Disbursements 1.

Disbursements made via wire transfer on behalf of a mortgagor


X
or investor shall be made only by authorized personnel. 2.

Disbursements made on behalf of mortgagor or investor shall


X
be posted within two business days to the mortgagor's or investor's records maintained by the servicing entity. 3.

Tax and insurance payments shall be made on or before the


X
penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such 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



X
payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or  omission. 5.

Amounts remitted to investors per the servicer's investor



X
reports shall agree with canceled checks, or other form of payment, or custodial bank statements. 6.

Unused checks shall be safeguarded so as to prevent



X
unauthorized access. IV. Investor Accounting and Reporting 1. The servicing entity's investor reports shall agree with or

X
reconcile to investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity. V. Mortgagor Loan Accounting 1.

The servicing entity's mortgage loan records shall agree



X
with, or reconcile to, the records of mortgagors with respect to  the unpaid principal balance on a monthly basis. 2.   Adjustments on ARM loans shall be computed based on the


X
related mortgage note and any ARM rider. 3.

Escrow accounts shall be analyzed, in accordance with the


X
mortgagor's loan documents, on at least an annual basis.
|
|Minimum Servicing Standards



Applicable
Not Applicable

V. Mortgagor Loan Accounting (continued) 4.  Interest on escrow accounts shall be paid, or credited, to



X
mortgagors in accordance with the applicable state laws. (A compilation of state laws relating to the payment of interest on   escrow 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
X
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, 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

X
effect on the servicing entity throughout the reporting period  in the amount of coverage represented to investors in  management's assertion.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|