How to merge lines based off of text?

Shell Programming and Scripting
1

Hello Everyone,
I have two files, similar to the following:

File 1:

8010  ITEM01  CODE1 FLAG1
filler
filler
7020  OBJECT  CODE2 FLAG2
filler
6010  THING1  CODE4 FLAG4
6011  ITEM20  CODE7 FLAG7

File 2 contains:

6020  ITEM01  CODEA FLAGA
filler
filler
filler
7000  OBJECT  CODEB FLAGB
filler
filler
4020  THING1  CODEC FLAGC
2211  ITEM20  CODED FLAGD

I want to compare file 1 and two by the keyword in column two (in this example, the items in column two are ITEM01, OBJECT, THING1, and ITEM20). If the keyword if found in both files, then the CODE/FLAG from file2 will overwrite the code/flag found in file1 like so:

8010  ITEM01  CODEA FLAGA
filler
filler
7020  OBJECT  CODEB FLAGB
filler
6010  THING1  CODEC FLAGC
6011  ITEM20  CODED FLAGD

I tried using the "cut -b 7-12" command, since I know that the keyword is found in byte positions 7-12 and tried comparing what i extracted between both files, but that doesn't seem to work. I've also tried cutting the files so that in one file, I have the keywords and the other file, I have the code/flag. I then tried joining the files. This didn't work since i have filler text in between the lines of the keywords. Any suggestions?

2 
# awk 'BEGIN { while(getline<"file2") f2[$2]=$3 " " $4 }; ($2 in f2) { print $1" "$2" "f2[$2] }' file1
8010 ITEM01 CODEA FLAGA
filler
filler
7020 OBJECT CODEB FLAGB
filler
6010 THING1 CODEC FLAGC
6011 ITEM20 CODED FLAGD
3

Thanks mr.bean, but what do you do when the keywords in column two contains spaces and filler has multiple entries? Like if there was a "ITEM 1" in the following? Is there a way to go by byte position?

8010 ITEM01 CODEA FLAGA
8011 ITEM 1 CODEE FLAGE
filler filler
filler
7020 OBJECT CODEB FLAGB
filler
6010 THING1 CODEC FLAGC
6011 ITEM20 CODED FLAGD