UDR (UDR) 10-Q 2005 Q2 Quarterly report

EXHIBIT 10.07

Participation in the Series C
Out-Performance Program

     Set forth below is information relating to the participation in the Series C Out-Performance Program by certain officers of United Dominion Realty Trust, Inc., including information relating to their membership interests in UDR Out-Performance III, LLC.

UDR OUT-PERFORMANCE III, LLC

MEMBERS, CAPITAL CONTRIBUTIONS AND MEMBERSHIP INTERESTS

			Capital
	Capital		Contributions1
	Contributions		(Other		Membership		Percentage
Members	(Cash)		Consideration)		Units		Interests
Thomas W. Toomey	$	100,000	$	125,000		225,000		30	%
W. Mark Wallis			$	75,000		75,000		10	%
Christopher D. Genry			$	45,000		45,000		6	%
Martha R. Carlin			$	45,000		45,000		6	%
Richard A. Giannotti			$	75,000		75,000		10	%
Michael J. Kelly	$	37,500				37,500		5	%
Mark E. Wood			$	37,500		37,500		5	%
Matthew T. Akin	$	37,500				37,500		5	%
Thomas A. Spangler			$	60,000		60,000		8	%
Moises V. Vela, Jr.	$	37,500				37,500		5	%
Patrick S. Gregory			$	37,500		37,500		5	%
Sara Jo Light	$	37,500				37,500		5	%

¹ Interests in UDR Out-Performance I, LLC, a Virginia limited liability company (valued at $18.7495 per limited liability company interest), common stock of United Dominion Realty Trust, Inc. or other consideration.