Exhibit 25.2
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM T-1
Statement of Eligibility Under the
Trust Indenture Act of 1939 of a Corporation
Designated to Act as Trustee
Check if an application to determine eligibility of a trustee
pursuant to section 305(b)(2)o
SunTrust Bank
| Georgia | 58-0466330 | |
| (Jurisdiction of incorporation or organization | (I.R.S. Employer Identification No.) | |
| if not a U.S. national bank) |
303 Peachtree Street
Suite 300
Atlanta, Georgia 30303
(Address of principal executive offices, including zip code)
Sandra E. Stanley
Trust Officer
SunTrust Bank
Corporate Trust HDQ 5310
919 East Main Street
Richmond, Virginia 23219
(804) 782-5236
(Name, address and telephone number of agent for service)
United Dominion Realty Trust, Inc.
| Maryland | 54-0857512 | |
| (State or other jurisdiction of | (I.R.S. Employer Identification No.) | |
| incorporation or organization) |
1745 Shea Center Drive, Suite 200
Highlands Ranch, Colorado 80129
(Address of principal executive offices, including zip code)
Subordinated Debt Securities
(Title of indenture securities)
1. General information.
Furnish the following information as to the trustee:
| (a) | Name and address of each examining or supervising authority to which it is subject. |
DEPARTMENT OF BANKING AND FINANCE,
STATE OF GEORGIA
ATLANTA, GEORGIA
FEDERAL RESERVE BANK OF ATLANTA
104 MARIETTA STREET, N.W.
ATLANTA, GEORGIA
FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
| (b) | Whether it is authorized to exercise corporate trust powers. |
YES.
2. Affiliations with obligor.
If the obligor is an affiliate of the trustee, describe each such affiliation.
NONE.
3-12. | NO RESPONSES ARE INCLUDED FOR ITEMS 3 THROUGH 12. RESPONSES TO THOSE ITEMS ARE NOT REQUIRED BECAUSE, AS PROVIDED IN GENERAL INSTRUCTION B AND AS SET FORTH IN ITEMS 13(a) AND 13(b) BELOW, THE OBLIGOR IS NOT IN DEFAULT ON ANY SECURITIES ISSUED UNDER ANY INDENTURES UNDER WHICH SUNTRUST BANK IS A TRUSTEE. |
13. Defaults by the Obligor.
| (a) | State whether there is or has been a default with respect to the securities under this indenture. Explain the nature of any such default. |
THERE IS NOT AND HAS NOT BEEN ANY DEFAULT UNDER THIS INDENTURE.
| (b) | If the trustee is a trustee under another indenture under which any other securities, or certificates of interest or participation in any other securities, of the obligor are |
outstanding, or is trustee for more than one outstanding series of securities under the indenture, state whether there has been a default under any such indenture or series, identify the indenture or series affected, and explain the nature of any such default.
THERE HAS NOT BEEN ANY SUCH DEFAULT.
14-15. | NO RESPONSES ARE INCLUDED FOR ITEMS 14 AND 15. RESPONSES TO THOSE ITEMS ARE NOT REQUIRED BECAUSE, AS PROVIDED IN GENERAL INSTRUCTION B AND AS SET FORTH IN ITEMS 13(a) AND 13(b) ABOVE, THE OBLIGOR IS NOT IN DEFAULT ON ANY SECURITIES ISSUED UNDER ANY INDENTURES UNDER WHICH SUNTRUST BANK IS A TRUSTEE. |
16. List of Exhibits.
List below all exhibits filed as a part of this statement of eligibility; exhibits identified in parentheses are filed with the Securities and Exchange Commission and are incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under the Trust Indenture Act of 1939, as amended.
| (1) | A copy of the Articles of Amendment and Restated Articles of Incorporation of the trustee as now in effect (Exhibit 1 to Form T-1, Registration No. 333-82717 filed by ONEOK, Inc.). | |||
| (2) | A copy of the certificate of authority of the trustee to commence business (Included in Exhibit 1 to Form T-1, Registration No. 333-82717 filed by ONEOK, Inc.). | |||
| (3) | A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1, Registration No. 333-62338 filed June 12, 2001 by Rock-Tenn Company). | |||
| (4) | A copy of the existing by-laws of the trustee as now in effect (Exhibit 4 to Form T-1, Registration No. 333-82717 filed by ONEOK, Inc.). | |||
| (5) | Not applicable. | |||
| (6) | The consent of the trustee required by Section 321(b) of the Trust Indenture Act of 1939. | |||
| (7) | A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority as of the close of business on March 31, 2004. | |||
| (8) | Not applicable. | |||
| (9) | Not applicable. | |||
Signature
Pursuant to the requirements of the Trust Indenture Act of 1939 the trustee, SunTrust Bank, a banking corporation organized and existing under the laws of the State of Georgia, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Richmond and the Commonwealth of Virginia, on the 4th day of June, 2004.
| SunTrust Bank (Trustee) | ||||
| By: | /s/ Sandra E. Stanley | |||
| Sandra E. Stanley | ||||
| Trust Officer | ||||
Exhibit 1 to Form T-1
ARTICLES OF INCORPORATION
OF
SUNTRUST BANK
(Incorporated by reference to Exhibit 1 to Form T-1,
Registration No. 333-82717 filed by ONEOK, Inc.)
Exhibit 2 to Form T-1
CERTIFICATE OF AUTHORITY
OF
SUNTRUST BANK TO COMMENCE BUSINESS
(Incorporated by reference to Exhibit 1 to Form T-1,
Registration No. 333-82717 filed by ONEOK, Inc.)
Exhibit 3 to Form T-1
AUTHORIZATION
OF
SUNTRUST BANK TO EXERCISE
CORPORATE TRUST POWERS
(Incorporated by reference to Exhibit 3 to Form T-1,
Registration No. 333-62338 filed June 12, 2001 by Rock-Tenn Company)
Exhibit 4 to Form T-1
BY-LAWS
OF
SUNTRUST BANK
(Incorporated by reference to Exhibit 4 to Form T-1,
Registration No. 333-82717 filed by ONEOK, Inc.)
Exhibit 5 to Form T-1
(Intentionally Omitted. Not Applicable.)
Exhibit 6 to Form T-1
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of 1939, in connection with the proposed issuance of the Subordinated Debt Securities of United Dominion Realty Trust, Inc., SunTrust Bank hereby consents that reports of examinations by Federal, State, Territorial or District Authorities may be furnished by such authorities to the Securities and Exchange Commission upon request therefor.
| SunTrust Bank | ||||
| June 4, 2004 | By: | /s/ Sandra E. Stanley | ||
| Sandra E. Stanley | ||||
| Trust Officer | ||||
Exhibit 7 to Form T-1
REPORT OF CONDITION
(ATTACHED)
SUNTRUST BANK | ||||||
| Legal Title of Bank | ||||||
ATLANTA | ||||||
| City | ||||||
GA | 30308 | |||||
| State | Zip Code | |||||
FDIC Certificate Number – 00867
Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for March 31, 2004
All schedules are to be reported in thousands of dollars. Unless otherwise indicated, report the amount outstanding as of the last business day of the quarter.
Schedule RC—Balance Sheet
| Dollar Amounts in Thousands | RCFD | Bil | Mil | Thou | ||||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||||
| 1. | Cash and balances due from depository institutions (from Schedule RC-A): | |||||||||||||||||||||||||||
| a. | Noninterest-bearing balances and currency and coin (1) | 0081 | 3,585,977 | 1.a | ||||||||||||||||||||||||
| b. | Interest-bearing balances (2) | 0071 | 21,777 | 1.b | ||||||||||||||||||||||||
| 2. | Securities: | |||||||||||||||||||||||||||
| a. | Held-to-maturity securities (from Schedule RC-B, column A) | 1754 | 0 | 2.a | ||||||||||||||||||||||||
| b. | Available-for-sale securities (from Schedule RC-B, column D) | 1773 | 23,533,904 | 2.b | ||||||||||||||||||||||||
| 3. | Federal funds sold and securities purchased under agreements to resell: | RCON | ||||||||||||||||||||||||||
| a. | Federal funds sold in domestic offices | B987 | 244,400 | 3.a | ||||||||||||||||||||||||
| RCFD | ||||||||||||||||||||||||||||
| b. | Securities purchased under agreements to resell (3) | B989 | 4,102,945 | 3.b | ||||||||||||||||||||||||
| 4. | Loans and lease financing receivables (from Schedule RC-C): | |||||||||||||||||||||||||||
| a. | Loans and leases held for sale | 5369 | 5,852,118 | 4.a | ||||||||||||||||||||||||
| b. | Loans and leases, net of unearned income | B528 | 79,202,848 | 4.b | ||||||||||||||||||||||||
| c. | LESS: Allowance for loan and lease losses | 3123 | 936,427 | 4.c | ||||||||||||||||||||||||
| d. | Loans and leases, net of unearned income and allowance (item 4.b minus 4.c) | B529 | 78,266,421 | 4.d | ||||||||||||||||||||||||
| 5. | Trading assets (from Schedule RC-D) | 3545 | 1,599,086 | 5 | ||||||||||||||||||||||||
| 6. | Premises and fixed assets (including capitalized leases) | 2145 | 1,380,720 | 6 | ||||||||||||||||||||||||
| 7. | Other real estate owned (from Schedule RC-M) | 2150 | 26,208 | 7 | ||||||||||||||||||||||||
| 8. | Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M) | 2130 | 0 | 8 | ||||||||||||||||||||||||
| 9. | Customers’ liability to this bank on acceptances outstanding | 2155 | 48,102 | 9 | ||||||||||||||||||||||||
| 10. | Intangible assets: | |||||||||||||||||||||||||||
| a. | Goodwill | 3163 | 885,190 | 10.a | ||||||||||||||||||||||||
| b. | Other intangible assets (from Schedule RC-M) | 0426 | 620,763 | 10.b | ||||||||||||||||||||||||
| 11. | Other assets (from Schedule RC-F) | 2160 | 4,130,457 | 11 | ||||||||||||||||||||||||
| 12. | Total assets (sum of items 1 through 11) | 2170 | 124,298,068 | 12 | ||||||||||||||||||||||||
| (1) | Includes cash items in process of collection and unposted debits. | |
| (2) | Includes time certificates of deposit not held for trading. | |
| (3) | Includes all securities resale agreements in domestic and foreign offices, regardless of maturity. |
SUNTRUST BANK | ||
| Legal Title of Bank | ||
FDIC Certificate Number – 00867
Schedule RC—Continued
| Dollar Amounts in Thousands | Bil | Mil | Thou | |||||||||||||||||||||||||
| LIABILITIES | ||||||||||||||||||||||||||||
| 13. | Deposits: | |||||||||||||||||||||||||||
| a. | In domestic offices (sum of totals of columns A and C from Schedule RC-E, part I) | RCON 2200 | 76,375,267 | 13.a | ||||||||||||||||||||||||
| (1) Noninterest-bearing (4) | 6631 | 11,546,610 | 13.a.1 | |||||||||||||||||||||||||
| (2) Interest-bearing | 6636 | 64,828,657 | 13.a.2 | |||||||||||||||||||||||||
| b. | In foreign offices, Edge and Agreement subsidiaries, and IBFs | RCFN | ||||||||||||||||||||||||||
| (from Schedule RC-E, part II) | 2200 | 4,852,124 | 13.b | |||||||||||||||||||||||||
| (1) Noninterest-bearing | 6631 | 0 | 13.b.1 | |||||||||||||||||||||||||
| (2) Interest-bearing | 6636 | 4,852,124 | 13.b.2 | |||||||||||||||||||||||||
| 14. | Federal funds purchased and securities sold under agreements to repurchase: | RCON | ||||||||||||||||||||||||||
| a. | Federal funds purchased in domestic offices (5) | B993 | 3,767,561 | 14.a | ||||||||||||||||||||||||
| RCFD | ||||||||||||||||||||||||||||
| b. | Securities sold under agreements to repurchase (6) | B995 | 10,086,677 | 14.b | ||||||||||||||||||||||||
| 15. | Trading liabilities (from Schedule RC-D) | 3548 | 1,021,144 | 15 | ||||||||||||||||||||||||
| 16. | Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases) (from Schedule RC-M) | 3190 | 11,931,227 | 16 | ||||||||||||||||||||||||
| 17. | Not applicable | |||||||||||||||||||||||||||
| 18. | Bank’s liability on acceptances executed and outstanding | 2920 | 48,102 | 18 | ||||||||||||||||||||||||
| 19. | Subordinated notes and debentures (7) | 3200 | 2,149,348 | 19 | ||||||||||||||||||||||||
| 20. | Other liabilities (from Schedule RC-G) | 2930 | 2,903,310 | 20 | ||||||||||||||||||||||||
| 21. | Total liabilities (sum of items 13 through 20) | 2948 | 113,134,760 | 21 | ||||||||||||||||||||||||
| 22. | Minority interest in consolidated subsidiaries | 3000 | 967,642 | 22 | ||||||||||||||||||||||||
| EQUITY CAPITAL | ||||||||||||||||||||||||||||
| 23. | Perpetual preferred stock and related surplus | 3838 | 0 | 23 | ||||||||||||||||||||||||
| 24. | Common stock | 3230 | 21,600 | 24 | ||||||||||||||||||||||||
| 25. | Surplus (exclude all surplus related to preferred stock) | 3839 | 3,245,229 | 25 | ||||||||||||||||||||||||
| 26. | a. Retained earnings | 3632 | 5,893,604 | 26.a | ||||||||||||||||||||||||
| b. Accumulated other comprehensive income (8) | B530 | 1,035,233 | 26.b | |||||||||||||||||||||||||
| 27. | Other equity capital components (9) | A130 | 0 | 27 | ||||||||||||||||||||||||
| 28. | Total equity capital (sum of items 23 through 27) | 3210 | 10,195,666 | 28 | ||||||||||||||||||||||||
| 29. | Total liabilities, minority interest, and equity capital (sum of items 21, 22, and 28) | 3300 | 124,298,068 | 29 | ||||||||||||||||||||||||
| Memorandum | ||||||||||||||||||||||||||||
| To be reported only with the March Report of Condition. | ||||||||||||||||||||||||||||
| 1. | Indicate in the box at the right the number of the statement below that best describes the most comprehensive level of auditing work performed for the bank by independent external auditors as of any date during 2003 | RCFD 6724 | Number 1 | M.1 | ||||||||||||||||||||||||
| 1 | = | Independent audit of the bank conducted in accordance with generally accepted auditing standards by a certified public accounting firm which submits a report on the bank | ||
| 2 | = | Independent audit of the bank’s parent holding company conducted in accordance with generally accepted auditing standards by a certified public accounting firm which submits a report on the consolidated holding company (but not on the bank separately) | ||
| 3 | = | Attestation on bank management’s assertion on the effectiveness of the bank’s internal control over financial reporting by a certified public accounting firm |
| 4 | = | Directors’ examination of the bank conducted in accordance with generally accepted auditing standards by a certified public accounting firm (may be required by state chartering authority) | ||
| 5 | = | Directors’ examination of the bank performed by other external auditors (may be required by state chartering authority) | ||
| 6 | = | Review of the bank’s financial statements by external auditors | ||
| 7 | = | Compilation of the bank’s financial statements by external auditors | ||
| 8 | = | Other audit procedures (excluding tax preparation work) | ||
| 9 | = | No external audit work |
| (4) | Includes total demand deposits and noninterest-bearing time and savings deposits. | |
| (5) | Report overnight Federal Home Loan Bank advances in Schedule RC, item 16,“Other borrowed money.” | |
| (6) | Includes all securities repurchase agreements in domestic and foreign offices, regardless of maturity. | |
| (7) | Includes limited-life preferred stock and related surplus. | |
| (8) | Includes net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and minimum pension liability adjustments. | |
| (9) | Includes treasury stock and unearned Employee Stock Ownership Plan shares. |
Exhibit 8 to Form T-1
(Intentionally Omitted. Not Applicable.)
Exhibit 9 to Form T-1
(Intentionally Omitted. Not Applicable.)
