Item 1. Business.
Not applicable
Item 2.
Item 2. Properties.
Information with respect to the servicing of the Mortgage Loans and Mortgaged Properties is provided by reference to
the Annual Independent Accountants ' Servicing Report attached as Exhibit 99.1 and to the Annual Statement of
Compliance attached as Exhibit 99.3.
Item 3.
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 Master Servicer or the registrant with respect to the Trust
other than routine litigation incidental to the duties of the respective parties.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Currently, there is no established trading market for the Certificates known to the Registrant.
There was an aggregate of 110 holders of record for the registered certificates (Classes A-1, A-1A, A-2, A-3, A-4, A-5,
A-6, B, C, D, E and F) of LB-UBS Commercial Mortgage Trust 2004-C7, Commercial Mortgage Pass-Through
Certificates Series 2004-C7. Holders of record by class were 24 holders for Class A-1; 1 holder for Class A-1A; 37
holders for Class A-2; 2 holders for Class A-3; 5 holders for Class A-4; 4 holders for Class A-5; 29 holders for Class
A-6; 1 holder for Class B; 1 holder for Class C; 3 holders for the Class D: 2 holders for the Class E and 1 holder for
Class F. The Calculation of holders of record was based upon the number of individual participants in the security
position listing provided by DTC as of December 31, 2004.
Item 6.
Item 6. Selected Financial Data.
Not applicable.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.
Not applicable.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Not applicable.
Item 9.
Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures.
Not applicable.
Item 9B.
Item 9B. Other Information.
Not applicable.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable.
Item 11.
Item 11. Executive Compensation.
Not applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
The number of holders of record for each registered class holding 5% or more of the outstanding balance of such class
of certificates as of the end of the reporting period is reflected in Exhibit 99.5. The current Controlling Class is T. The
Controlling Class Representative is Cadim TACH.
Item 13.
Item 13. Certain Relationships and Related Transactions.
The number of holders of record for each registered class holding 5% or more of the outstanding balance of such class
of certificates as of the end of the reporting period is reflected in Exhibit 99.5.
Item 14.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules.
(A) Exhibits
(24) Limited Power of Attorney
(31) Sarbanes Oxley Certification
(99.1) Annual Independent Accountants ' Servicing Report for the year ended December 31, 2004.
a) Wachovia Bank, National Association, as Master Servicer
b) GMAC Commercial Mortgage Corporation, as Special Servicer
c) Wachovia Bank, National Association, as Master Servicer of the One Lincoln Street loan (same as (a) above)
d) GMAC Commercial Mortgage Corporation, as Master Servicer of the World Apparel Center loan
(99.2) Report of Management as to compliance with minimum servicing standards for the year ended December 31,
2004.
a) Wachovia Bank, National Association, as Master Servicer
b) GMAC Commercial Mortgage Corporation, as Special Servicer
c) Wachovia Bank, National Association, as Master Servicer of the One Lincoln Street loan (same as (a) above)
d) GMAC Commercial Mortgage Corporation, as Master Servicer of the World Apparel Center
(99.3) Annual Statement of Compliance for the year ended December 31, 2004.
a) Wachovia Bank, National Association, as Master Servicer
b) GMAC Commercial Mortgage Corporation, as Special Servicer
c) Wachovia Bank, National Association, as Master Servicer of the One Lincoln Street loan.
d) GMAC Commercial Mortgage Corporation, as Master Servicer of the World Apparel Center loan.
(99.4) Aggregate Statement of Principal and Interest Distributions to
Certificateholders as of December 31, 2004.
(99.5) Report of holders of record holding 5% or more of the outstanding balance of each registered class as of the end
of the reporting period for 2004.
(B) Reports on Form 8-K were filed during the last quarter of 2004 for registration purposes and in order to provide
statements for the monthly distributions to investors on November 8, 2004, November 9, 2004, November 24, 2004,
and December 22, 2004, and reports on Form 8-K/A were filed on December 17, 2004, amending the filing made on
November 9, 2004, and on December 21, 2004, amending the November distribution statement.
(C) The foregoing exhibits set forth in Item 15(A) are filed together herewith.
(D) Not applicable.
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.
Structured Asset Securities Corporation II by LaSalle Bank National Association, as Trustee for LB-UBS Commercial
Mortgage Trust 2004-C7 Commercial Mortgage Pass-Through Certificates, Series 2004-C7 as Attorney In Fact
/s/ Cynthia Reis
Cynthia Reis
Senior Vice President
Date: March 28, 2005