a Virginia corporation,
a California limited partnership
a California limited partnership,
Page | ||||
RECITALS | 1 | |||
ARTICLE I | 2 | |||
ARTICLE II | 18 | |||
SECTION 2.01 Revolving Facility Commitment | 18 | |||
SECTION 2.02 Requests for Revolving Advances | 18 | |||
SECTION 2.03 Maturity Date of Revolving Advances | 19 | |||
SECTION 2.04 Interest on Revolving Facility Advances | 19 | |||
SECTION 2.05 Coupon Rates for Revolving Advances | 20 | |||
SECTION 2.06 Revolving Facility Note | 20 | |||
SECTION 2.07 Extension of Revolving Facility Termination Date | 20 | |||
ARTICLE III | 21 | |||
SECTION 3.01 Base Facility Commitment | 21 | |||
SECTION 3.02 Requests for Base Facility Advances | 21 | |||
SECTION 3.03 Maturity Date of Base Facility Advances | 21 | |||
SECTION 3.04 Interest on Base Facility Advances | 21 | |||
SECTION 3.05 Coupon Rates for Base Facility Advances | 22 | |||
SECTION 3.06 Base Facility Note | 22 | |||
SECTION 3.07 Conversion of Commitment from Revolving Facility Commitment to Base Facility Commitment | 22 | |||
SECTION 3.08 Limitations on Right to Convert | 22 | |||
SECTION 3.09 Conditions Precedent to Conversion | 23 | |||
SECTION 3.10 Defeasance | 23 | |||
ARTICLE IV | 31 | |||
SECTION 4.01 Rate Setting for an Advance | 31 | |||
SECTION 4.02 Advance Confirmation Instrument for Revolving Advances | 32 | |||
SECTION 4.03 Breakage and other Costs | 32 | |||
ARTICLE V | 32 | |||
SECTION 5.01 Initial Advance | 32 | |||
SECTION 5.02 Future Advances | 33 | |||
SECTION 5.03 Conditions Precedent to Future Advances | 33 | |||
SECTION 5.04 Determination of Allocable Facility Amount and Valuations | 34 | |||
ARTICLE VI | 34 | |||
SECTION 6.01 Right to Add Collateral | 34 | |||
SECTION 6.02 Procedure for Adding Collateral | 34 | |||
SECTION 6.03 Conditions Precedent to Addition of an Additional Mortgaged Property to the Collateral Pool | 36 | |||
ARTICLE VII | 37 | |||
SECTION 7.01 Right to Obtain Releases of Collateral | 37 | |||
SECTION 7.02 Procedure for Obtaining Releases of Collateral | 37 | |||
SECTION 7.03 Conditions Precedent to Release of Collateral Release Property from the Collateral | 38 | |||
SECTION 7.04 Substitutions | 39 | |||
ARTICLE VIII | 40 | |||
SECTION 8.01 Right to Increase Commitment | 40 | |||
SECTION 8.02 Procedure for Obtaining Increases in Commitment | 40 |
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Page | ||||
SECTION 8.03 Conditions Precedent to Increase in Commitment | 41 | |||
ARTICLE IX | 41 | |||
SECTION 9.01 Right to Complete or Partial Termination of Facilities | 41 | |||
SECTION 9.02 Procedure for Complete or Partial Termination of Facilities | 41 | |||
SECTION 9.03 Conditions Precedent to Complete or Partial Termination of Facilities | 42 | |||
ARTICLE X | 43 | |||
SECTION 10.01 Right to Terminate Credit Facility | 43 | |||
SECTION 10.02 Procedure for Terminating Credit Facility | 43 | |||
SECTION 10.03 Conditions Precedent to Termination of Credit Facility | 43 | |||
ARTICLE XI | 44 | |||
SECTION 11.01 Conditions Applicable to All Requests | 44 | |||
SECTION 11.02 Delivery of Closing Documents Relating to Initial Advance Request, Collateral Addition Request, Credit Facility Expansion Request or Future Advance Request | 45 | |||
SECTION 11.03 Delivery of Property Related Documents | 45 | |||
ARTICLE XII | 46 | |||
SECTION 12.01 Representations and Warranties of the Borrower | 46 | |||
SECTION 12.02 Representations and Warranties of the Borrower | 50 | |||
SECTION 12.03 Representations and Warranties of the Lender | 53 | |||
ARTICLE XIII | 53 | |||
SECTION 13.01 Compliance with Agreements; No Amendments | 53 | |||
SECTION 13.02 Maintenance of Existence | 53 | |||
SECTION 13.03 Maintenance of REIT Status | 54 | |||
SECTION 13.04 Financial Statements; Accountants’ Reports; Other Information | 54 | |||
SECTION 13.05 Certificate of Compliance | 56 | |||
SECTION 13.06 Maintain Licenses | 56 | |||
SECTION 13.07 Access to Records; Discussions With Officers and Accountants | 56 | |||
SECTION 13.08 Inform the Lender of Material Events | 57 | |||
SECTION 13.09 Intentionally Omitted | 58 | |||
SECTION 13.10 Inspection | 58 | |||
SECTION 13.11 Compliance with Applicable Laws | 58 | |||
SECTION 13.12 Warranty of Title | 58 | |||
SECTION 13.13 Defense of Actions | 58 | |||
SECTION 13.14 Alterations to the Mortgaged Properties | 59 | |||
SECTION 13.15 ERISA | 59 | |||
SECTION 13.16 Loan Document Taxes | 60 | |||
SECTION 13.17 Further Assurances | 60 | |||
SECTION 13.18 Monitoring Compliance | 60 | |||
SECTION 13.19 Leases | 60 | |||
SECTION 13.20 Appraisals | 60 | |||
SECTION 13.21 Transfer of Ownership Interests of the Borrower | 60 | |||
SECTION 13.22 Change in Senior Management | 62 | |||
SECTION 13.23 Date Down Endorsements | 62 | |||
SECTION 13.24 Geographical Diversification | 63 | |||
SECTION 13.25 Ownership of Mortgaged Properties | 63 | |||
SECTION 13.26 Facility Balancing | 63 | |||
ARTICLE XIV | 63 | |||
SECTION 14.01 Other Activities | 63 | |||
SECTION 14.02 Value of Security | 64 |
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SECTION 14.03 Zoning | 64 | |||
SECTION 14.04 Liens | 64 | |||
SECTION 14.05 Sale | 64 | |||
SECTION 14.06 Intentionally Omitted | 64 | |||
SECTION 14.07 Principal Place of Business | 64 | |||
SECTION 14.08 Intentionally Omitted | 64 | |||
SECTION 14.09 Change in Property Management | 64 | |||
SECTION 14.10 Condominiums | 64 | |||
SECTION 14.11 Restrictions on Distributions | 65 | |||
SECTION 14.12 Conduct of Business | 65 | |||
SECTION 14.13 Limitation on Unimproved Real Property and New Construction | 65 | |||
SECTION 14.14 No Encumbrance of Collateral Release Property | 65 | |||
ARTICLE XV | 65 | |||
SECTION 15.01 Financial Definitions | 65 | |||
SECTION 15.02 Compliance with Debt Service Coverage Ratios | 70 | |||
SECTION 15.03 Compliance with Loan to Value Ratios | 70 | |||
SECTION 15.04 Compliance with Concentration Test | 70 | |||
SECTION 15.05 Consolidated Adjusted Tangible Net Worth | 70 | |||
SECTION 15.06 Consolidated Funded Debt Ratio | 70 | |||
SECTION 15.07 Consolidated Total Fixed Charge Coverage Ratio | 70 | |||
SECTION 15.08 Consolidated Unencumbered Realty to Consolidated Unsecured Debt Ratio | 70 | |||
SECTION 15.09 Consolidated Unencumbered Interest Coverage Ratio | 70 | |||
ARTICLE XVI | 71 | |||
SECTION 16.01 Standby Fee | 71 | |||
SECTION 16.02 Origination Fees | 71 | |||
SECTION 16.03 Due Diligence Fees | 71 | |||
SECTION 16.04 Legal Fees and Expenses | 71 | |||
SECTION 16.05 MBSRelated Costs | 72 | |||
SECTION 16.06 Failure to Close any Request | 72 | |||
SECTION 16.07 Other Fees | 72 | |||
ARTICLE XVII | 73 | |||
SECTION 17.01 Events of Default | 73 | |||
ARTICLE XVIII | 75 | |||
SECTION 18.01 Remedies; Waivers | 75 | |||
SECTION 18.02 Waivers; Rescission of Declaration | 75 | |||
SECTION 18.03 The Lender’s Right to Protect Collateral and Perform Covenants and Other Obligations | 75 | |||
SECTION 18.04 No Remedy Exclusive | 76 | |||
SECTION 18.05 No Waiver | 76 | |||
SECTION 18.06 No Notice | 76 | |||
SECTION 18.07 Application of Payments | 76 | |||
ARTICLE XIX | 76 | |||
SECTION 19.01 Special Pool Purchase Contract | 76 | |||
SECTION 19.02 Assignment of Rights | 76 | |||
SECTION 19.03 Release of Collateral | 77 | |||
SECTION 19.04 Replacement of Lender | 77 | |||
SECTION 19.05 Fannie Mae and Lender Fees and Expenses | 77 | |||
SECTION 19.06 ThirdParty Beneficiary | 77 |
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ARTICLE XX | 77 | |||
SECTION 20.01 Insurance and Real Estate Taxes | 77 | |||
SECTION 20.02 Replacement Reserves | 77 | |||
ARTICLE XXI | 78 | |||
ARTICLE XXII | 78 | |||
SECTION 22.01 Personal Liability of the Borrower | 78 | |||
ARTICLE XXIII | 78 | |||
SECTION 23.01 Counterparts | 78 | |||
SECTION 23.02 Amendments, Changes and Modifications | 78 | |||
SECTION 23.03 Payment of Costs, Fees and Expenses | 79 | |||
SECTION 23.04 Payment Procedure | 79 | |||
SECTION 23.05 Payments on Business Days | 79 | |||
SECTION 23.06 Choice of Law; Consent to Jurisdiction; Waiver of Jury Trial | 80 | |||
SECTION 23.07 Severability | 81 | |||
SECTION 23.08 Notices | 81 | |||
SECTION 23.09 Further Assurances and Corrective Instruments | 83 | |||
SECTION 23.10 Term of this Agreement | 84 | |||
SECTION 23.11 Assignments; Third Party Rights | 84 | |||
SECTION 23.12 Headings | 84 | |||
SECTION 23.13 General Interpretive Principles | 84 | |||
SECTION 23.14 Interpretation | 84 | |||
SECTION 23.15 Decisions in Writing | 84 | |||
SECTION 23.16 Requests | 84 |
iv
EXHIBIT A | - | Schedule of Initial Mortgaged Properties and Initial Valuations | ||
EXHIBIT B | - | Base Facility Note | ||
EXHIBIT C | - | Intentionally Omitted | ||
EXHIBIT D | - | Compliance Certificate | ||
EXHIBIT E | - | Sample Facility Debt Service | ||
EXHIBIT F | - | Organizational Certificate | ||
EXHIBIT G | - | Intentionally Omitted | ||
EXHIBIT H | - | Revolving Credit Endorsement | ||
EXHIBIT I | - | Revolving Facility Note | ||
EXHIBIT J | - | Tie-In Endorsement | ||
EXHIBIT K | - | Conversion Request | ||
EXHIBIT L | - | Conversion Amendment | ||
EXHIBIT M | - | Rate Setting Form | ||
EXHIBIT N | - | Rate Confirmation Instrument | ||
EXHIBIT O | - | Advance Confirmation Instrument | ||
EXHIBIT P | - | Future Advance Request | ||
EXHIBIT Q | - | Collateral Addition Request | ||
EXHIBIT R | - | Collateral Addition Description Package | ||
EXHIBIT S | - | Collateral Addition Supporting Documents | ||
EXHIBIT T | - | Collateral Release Request | ||
EXHIBIT U | - | Confirmation of Obligations | ||
EXHIBIT V | - | Credit Facility Expansion Request | ||
EXHIBIT W | - | Revolving Facility Termination Request | ||
EXHIBIT X | - | Revolving Facility Termination Document | ||
EXHIBIT Y | - | Credit Facility Termination Request | ||
EXHIBIT Z | - | Intentionally Omitted | ||
EXHIBIT AA | - | Independent Unit Encumbrances |
v
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DEFINITIONS
(a) | the Advances Outstanding on the specified date, |
(b) | the aggregate of the Valuations most recently obtained prior to the specified date for all of the Mortgaged Properties. |
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(b) | the Facility Debt Service on the specified date, assuming, for the purpose of calculating the Facility Debt Service for this definition, that Advances Outstanding shall be the Allocable Facility Amount for the subject Mortgaged Property. |
(i) | the face amount of the MBS backed by the Revolving Advance, over | ||
(ii) | the Price of the MBS backed by the Revolving Advance. |
(a) | the amount of interest and principal amortization, during the 12 month period immediately succeeding the specified date, with respect to the Advances Outstanding on the specified date, except that, for these purposes: |
(i) | each Revolving Advance shall be deemed to require level monthly payments of principal and interest (at the Coupon Rate for the Revolving Advance) in an amount necessary to fully amortize the original principal amount of the Revolving Advance over a 30-year period, with such amortization deemed to commence on the first day of the 12 month period; and | ||
(ii) | each Base Facility Advance shall require level monthly payments of principal and interest (at the Coupon Rate for the Base Facility Advance) in an amount necessary to fully amortize the original principal amount of the Base Facility Advance over a 30-year period, |
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(b) | the amount of the Standby Fees payable to the Lender pursuant to Section 16.01 during such 12 month period (assuming, for these purposes, that the Advances Outstanding throughout the 12 month period are always equal to the amount of Advances Outstanding on the specified date). |
(1) | the reduction in the Revolving Facility Commitment, by | ||
(2) | the Revolving Facility Fee in effect at such time, by | ||
(3) | the present value factor calculated using the following formula: |
1 - (1 + r)/-n/ |
r |
n = the number of years, and any fraction thereof, remaining between the Closing Date for the reduction in the Revolving Facility Commitment and the Revolving Facility Termination Date] |
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(i) | the Net Operating Income of such Multifamily Residential Property for the Trailing 12 Month Period, by | ||
(ii) | the most recent Cap Rate determined by the Lender. |
THE REVOLVING FACILITY COMMITMENT
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THE BASE FACILITY COMMITMENT
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(A) | the Next Scheduled P&I Payment; | ||
(B) | all other sums then due and payable under the Base Facility Note subject to Defeasance, the Security Instruments related to the Mortgaged Properties to be released; and | ||
(C) | all costs and expenses incurred by Lender or Servicer in connection with the Defeasance, including the reasonable fees and disbursements of Lender’s or Servicer’s legal counsel. |
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(1 + (the Annual Yield/12))/n/
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RATE SETTING FOR THE ADVANCES
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MAKING THE ADVANCES
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ADDITIONS OF COLLATERAL
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RELEASES OF COLLATERAL
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EXPANSION OF CREDIT FACILITY
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COMPLETE OR PARTIAL TERMINATION OF FACILITIES
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TERMINATION OF CREDIT FACILITY
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GENERAL CONDITIONS PRECEDENT TO ALL REQUESTS
- 44 -
and opinions as the Lender may request.
without giving effect to any notice and cure rights of the relevant Borrower.
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REPRESENTATIONS AND WARRANTIES
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AFFIRMATIVE COVENANTS OF THE BORROWER
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Lender and Fannie Mae.
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exercise or enforce its rights under the Loan Documents.
- 60 -
the Borrower are permitted without the consent of the Lender:
accordance with the Security Instrument.
security interests other than those created by the Loan Documents.
such merger or acquisition, (B) no Change in Control occurs, and (C) such merger or acquisition does not result in an Event of Default, as such terms are defined in this Agreement.
- 61 -
Agreement.
13.21(c);
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NEGATIVE COVENANTS OF THE BORROWER
disposal would result in an Event of Default or Potential Event of Default;
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FINANCIAL COVENANTS OF THE BORROWER
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FEES
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EVENTS OF DEFAULT
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REMEDIES
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RIGHTS OF FANNIE MAE
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INSURANCE, REAL ESTATE TAXES
AND REPLACEMENT RESERVES
- 77 -
INTENTIONALLY OMITTED
PERSONAL LIABILITY OF THE BORROWER
MISCELLANEOUS PROVISIONS
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1745 Shea Center Drive
Fourth Floor
Highlands Ranch, Colorado 80126
Attention: Ella S. Neyland
Telecopy No.: (720) 344 5110
1745 Shea Center Drive
Fourth Floor
Highlands Ranch, Colorado 80126
Attention: Rod Neuheardt
Telecopy No.: (720) 344 5110
701 East Byrd Street
Richmond, Virginia 23219
Attention: Michael H. Terry, Esq.
Telecopy No.: (804) 644 0957
144 2/nd/ Avenue North
Suite 333
Nashville, Tennessee 37201
Attention: Joseph H. Torrence
Telecopy No.: (615) 256 5085
26901 Agoura Road, #200
Calabasas, California 91301
Attn: Loan Administration Dept.
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3939 Wisconsin Avenue, N.W.
Washington, D.C. 20016 2899
Attention: Vice President for
Multifamily Asset Management
Telecopy No.: (202) 752 5016
1801 K Street, N.W.
Third Floor, L Street Entrance
Washington, D.C. 200006
Attention: Lawrence H. Gesner, Esq.
Telecopy No.: (202) 857 0172
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BORROWER | ||||
UNITED DOMINION REALTY TRUST, INC., a Virginia corporation | ||||
By: | /s/ Ella S. Neyland | |||
Name: | Ella S. Neyland | |||
Title: | Executive Vice President and Treasurer |
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, its General Partner | |||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, its General Partner | |||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
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LENDER | ||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||
By: | /s/ Kathy Millhouse | |||||
Name: | Kathy Millhouse | |||||
Title: | Senior Vice President |
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2
UNITED DOMINION REALTY TRUST, INC., a Virginia corporation | ||||
By: Name: | /s/ Ella S. Neyland | |||
Title: | Executive Vice President and Treasurer |
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, its General Partner | |||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, its General Partner | |||||||
By: Name: | /s/ Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
HERITAGE – ASPEN COURT L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: Name: | /s/ Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
3
SOUTH WEST PROPERTIES, L.P., | ||||||||||
a Delaware limited partnership | ||||||||||
By: | UDR HOLDINGS, LLC, a Virginia limited liability | |||||||||
company, its General Partner | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Sole Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: Name: | /s/ Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer |
AAC/FSC CROWN POINTE INVESTORS, LLC, | ||||||||||
a Washington limited liability company | ||||||||||
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware limited | |||||||||
liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: Name: | /s/ Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer |
HERITAGE – GENTRY PLACE L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: Name: | /s/ Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
4
AAC/FSC HILLTOP INVESTORS, LLC, | ||||||||||
a Washington limited liability company | ||||||||||
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware | |||||||||
limited liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: Name: | /s/ Ella S. Neyland | |||||||||
Title : | Executive Vice President and Treasurer |
UNITED DOMINION REALTY, L.P., | ||||||
a Virginia limited partnership, Sole Member | ||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||
a Virginia corporation, General Partner | ||||||
By: Name: | /s/ Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
HERITAGE – SMITH SUMMIT L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: | /s/ Ella S. Neyland | |||||
Name: | Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
5
UDR SUMMIT RIDGE, L.P., | ||||||
a Delaware limited partnership | ||||||
By: | SOUTH WEST REIT HOLDING, INC. | |||||
a Texas corporation, its General Partner | ||||||
By: Name: | /s/ Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
UDRT OF NORTH CAROLINA, L.L.C., | ||||||||
a North Carolina limited liability company | ||||||||
By: | UDR of NC, Limited Partnership, | |||||||
a North Carolina limited partnership, its Sole Member | ||||||||
By: | UDR of North Carolina, Inc. | |||||||
a North Carolina corporation, its General Partner | ||||||||
By: Name: | /s/ Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
6
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||
By: Name: | /s/ Kathy Millhouse | |||||
Title: | Senior Vice President |
7
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||
200 Bicentennial Circle | ||||
Woodlake Village | Sacramento, CA 95826 | $44,800,000 | ||
2305 Ashcroft | ||||
Aspen Court | Arlington, TX 76006 | $5,700,000 | ||
11100 Braesridge | ||||
Braesridge | Houston, TX 77071 | $14,650,00 | ||
3788 NE 4th Street | ||||
Crown Pointe | Renton, WA 98056 | $11,900,000 | ||
606 W. Safari Parkway | ||||
Derby Park | Grand Prairie, TX 75050 | $15,900,000 | ||
500 Monroe Avenue NE | ||||
Hilltop | Renton, WA 98056 | $11,000,000 | ||
1045 Holcomb Bridge Road | ||||
Riverwood | Roswell, GA 30076 | $16,750,000 | ||
1057 Americana Lane | ||||
The Summit | Mesquite, TX 75150 | $12,250,000 | ||
1604 Ridge Haven Drive | ||||
Summit Ridge | Arlington, TX 76011 | $11,000,000 | ||
567 Cutchen Lane | ||||
Village at Cliffdale | Fayetteville, NC 28314 | $16,500,000 |
A-1
2
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, | |||||||
its General Partner | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia | |||||||
corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
HERITAGE – ASPEN COURT L.P., | ||||||||
an Arizona limited partnership | ||||||||
By: | HERITAGE SGP CORPORATION, | |||||||
an Arizona corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
3
SOUTH WEST PROPERTIES, L.P., | ||||||||||
a Delaware limited partnership | ||||||||||
By: | UDR HOLDINGS, LLC, a Virginia limited liability | |||||||||
company, its General Partner | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Sole Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, | ||||||||||
a Washington limited liability company | ||||||||||
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware limited | |||||||||
liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
HERITAGE – GENTRY PLACE L.P., | ||||||||||
an Arizona limited partnership | ||||||||||
By: | HERITAGE SGP CORPORATION, | |||||||||
an Arizona corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer |
4
AAC/FSC HILLTOP INVESTORS, LLC, | ||||||||||
a Washington limited liability company | ||||||||||
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware | |||||||||
limited liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
UNITED DOMINION REALTY, L.P., | ||||||||||
a Virginia limited partnership, Sole Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
HERITAGE – SMITH SUMMIT L.P., | ||||||||||
an Arizona limited partnership | ||||||||||
By: | HERITAGE SGP CORPORATION, | |||||||||
an Arizona corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer |
5
UDR SUMMIT RIDGE, L.P., | ||||||||
a Delaware limited partnership | ||||||||
By: | SOUTH WEST REIT HOLDING, INC. | |||||||
a Texas corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
UDRT OF NORTH CAROLINA, L.L.C., | ||||||||
a North Carolina limited liability company | ||||||||
By: | UDR OF NC, Limited Partnership, | |||||||
a North Carolina limited partnership, its Sole Member | ||||||||
By: | UDR OF NORTH CAROLINA, INC., | |||||||
a North Carolina corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
UDR BEAUMONT, LLC, | ||||||||
a Virginia limited liability company | ||||||||
By: | HERITAGE COMMUNITIES L.P., | |||||||
a Delaware limited partnership, its Manager | ||||||||
By: | ASR INVESTMENTS CORPORATION, | |||||||
a Maryland corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
6
HERITAGE – CHELSEA PARK L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: | /s/ Ella S. Neyland | |||||
Name: | Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer | |||||
HERITAGE – COUNTRY CLUB PLACE L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: | /s/ Ella S. Neyland | |||||
Name: | Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer | |||||
CONTEMPO HEIGHTS L.L.C., | ||||||
an Arizona limited liability company | ||||||
By: | ASC PROPERTIES, INC., | |||||
an Arizona corporation, its Managing Member | ||||||
By: | /s/ Ella S. Neyland | |||||
Name: | Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
7
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||
By: | /s/ Kathy Millhouse | |||||
Name: | Kathy Millhouse | |||||
Title: | Senior Vice President |
8
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||||
Woodlake Village | 200 Bicentennial Circle | $ | 44,800,000 | |||
Sacramento, CA 95826 | ||||||
Aspen Court | 2305 Ashcroft | $ | 5,700,000 | |||
Arlington, TX 76006 | ||||||
Braesridge | 11100 Braesridge | $ | 14,650,00 | |||
Houston, TX 77071 | ||||||
Crown Pointe | 3788 NE 4th Street | $ | 11,900,000 | |||
Renton, WA 98056 | ||||||
Derby Park | 606 W. Safari Parkway | $ | 15,900,000 | |||
Grand Prairie, TX 75050 | ||||||
Hilltop | 500 Monroe Avenue NE | $ | 11,000,000 | |||
Renton, WA 98056 | ||||||
Riverwood | 1045 Holcomb Bridge Road | $ | 16,750,000 | |||
Roswell, GA 30076 | ||||||
The Summit | 1057 Americana Lane | $ | 12,250,000 | |||
Mesquite, TX 75150 | ||||||
Summit Ridge | 1604 Ridge Haven Drive | $ | 11,000,000 | |||
Arlington, TX 76011 | ||||||
Village at Cliffdale | 567 Cutchen Lane | $ | 16,500,000 | |||
Fayetteville, NC 28314 | ||||||
Beaumont | 8504 82nd Street, S.W. | $ | 15,200,000 | |||
Lakewood, WA 98498 | ||||||
Chelsea Park | 11000 Crescent Moon | $ | 7,700,000 | |||
Houston, TX 77064 | ||||||
Country Club Place | 1111 Golfview | $ | 7,000,000 | |||
Richmond, TX 77469 | ||||||
Dunwoody Pointe | 7901 Roswell Road | $ | 14,100,000 | |||
Atlanta, GA 30350 | ||||||
Stonegate | 825 S. Alma School Road | $ | 7,400,000 | |||
Mesa, AZ 85210 | ||||||
Trinity Park | 5301 Creek Ridge Lane | $ | 22,540,000 | |||
Raleigh, NC 27607 |
A-1
2
26901 Agoura Road, #200
Calabasas Hills, California 91301
Attn: Timothy L. White
Telecopy No.: (818) 880-3333
26901 Agoura Road, #200
Calabasas Hills, California 91301
Attn: Loan Administration Dept.
3
UNITED DOMINION REALTY TRUST, INC., a Virginia corporation | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, | |||||||
its General Partner | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia | |||||||
corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
HERITAGE — ASPEN COURT L.P., | ||||||||
an Arizona limited partnership | ||||||||
By: | HERITAGE SGP CORPORATION, | |||||||
an Arizona corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
4
a Delaware limited partnership
By: | UDR HOLDINGS, LLC, a Virginia limited liability | |||||||||
company, its General Partner | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Sole Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, its General Partner | |||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
a Washington limited liability company
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware limited | |||||||||
liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: Ella S. Neyland | ||||||||||
Title: Executive Vice President and Treasurer |
an Arizona limited partnership
By: | HERITAGE SGP CORPORATION, an Arizona corporation, its General Partner | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
5
a Washington limited liability company
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware limited liability company, its Managing Member | |||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, its Managing Member | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, its General Partner | |||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
a Virginia limited partnership, Sole Member
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, General Partner | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
an Arizona limited partnership
By: | HERITAGE SGP CORPORATION, an Arizona corporation, its General Partner | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
6
a Delaware limited partnership
By: | SOUTH WEST REIT HOLDING, INC. a Texas corporation, its General Partner | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
a North Carolina limited liability company
By: | UDR OF NC, Limited Partnership, a North Carolina limited partnership, its Sole Member | |||||||
By: | UDR OF NORTH CAROLINA, INC., a North Carolina corporation, its General Partner | |||||||
By: | /s/ Ella S. Neyland | |||||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
a Virginia limited liability company
By: | HERITAGE COMMUNITIES L.P., a Delaware limited partnership, its Manager | |||||||
By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its General Partner | |||||||
By: | /s/ Ella S. Neyland | |||||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
7
an Arizona limited partnership
By: | HERITAGE SGP CORPORATION, an Arizona corporation, its General Partner | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
an Arizona limited partnership
By: | HERITAGE SGP CORPORATION, an Arizona corporation, its General Partner | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
an Arizona limited liability company
By: | ASC PROPERTIES, INC., an Arizona corporation, its Managing Member | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
8
an Arizona limited liability company
By: | HERITAGE SGP CORPORATION, an Arizona corporation, its Managing Member | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
an Arizona limited liability company
By: | HERITAGE SGP CORPORATION, an Arizona corporation, its Managing Member | |||||
By: | /s/ Ella S. Neyland | |||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
a Delaware general partnership
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, its General Partner | |||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, its General Partner | |||||||
By: | /s/ Ella S. Neyland | |||||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
9
an Ohio limited partnership
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, its General Partner | |||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia corporation, its General Partner | |||||||
By: | /s/ Ella S. Neyland | |||||||
Name: Ella S. Neyland Title: Executive Vice President and Treasurer |
10
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||
By: | /s/ Timothy L. White | |||||
Name: Timothy L. White Title: Chief Operating Officer |
11
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||||
Woodlake Village | 200 Bicentennial Circle Sacramento, CA 95826 | $ | 44,800,000 | |||
Aspen Court | 2305 Ashcroft Arlington, TX 76006 | $ | 5,700,000 | |||
Braesridge | 11100 Braesridge Houston, TX 77071 | $ | 14,650,00 | |||
Crown Pointe | 3788 NE 4th Street Renton, WA 98056 | $ | 11,900,000 | |||
Derby Park | 606 W. Safari Parkway Grand Prairie, TX 75050 | $ | 15,900,000 | |||
Hilltop | 500 Monroe Avenue NE Renton, WA 98056 | $ | 11,000,000 | |||
Riverwood | 1045 Holcomb Bridge Road Roswell, GA 30076 | $ | 16,750,000 | |||
The Summit | 1057 Americana Lane Mesquite, TX 75150 | $ | 12,250,000 | |||
Summit Ridge | 1604 Ridge Haven Drive Arlington, TX 76011 | $ | 11,000,000 | |||
Village at Cliffdale | 567 Cutchen Lane Fayetteville, NC 28314 | $ | 16,500,000 | |||
Beaumont | 8504 82nd Street, S.W. Lakewood, WA 98498 | $ | 15,200,000 | |||
Chelsea Park | 11000 Crescent Moon Houston, TX 77064 | $ | 7,700,000 | |||
Country Club Place | 1111 Golfview Richmond, TX 77469 | $ | 7,000,000 | |||
Dunwoody Pointe | 7901 Roswell Road Atlanta, GA 30350 | $ | 14,100,000 | |||
Stonegate | 825 S. Alma School Road Mesa, AZ 85210 | $ | 7,400,000 | |||
Trinity Park | 5301 Creek Ridge Lane Raleigh, NC 27607 | $ | 22,540,000 | |||
Arbor Terrace I | 1800 Sidney Avenue Port Orchard, WA 98366 | $ | 7,913,043 | |||
Arbor Terrace II | 1790 Sidney Avenue Port Orchard, WA 98366 | $ | 6,086,957 | |||
American Heritage | 3325 Watkins Lake Road Waterford, MI 48328 | $ | 5,200,000 |
A-1
Property Name | Property Address | Initial Valuation | ||||
Brandywine Creek | 3075 Endenhall Way East Lansing MI 48823 | $ | 20,200,000 | |||
Foothills Tennis Village | 5 Marcia Way Roseville, CA 95747 | $ | 22,600,000 | |||
Jamestown of St. Matthews | 900 Milford Lane St. Matthews, KY 40207 | $ | 17,100,000 | |||
Jamestown of Toledo | 3215 Milstead Drive Toledo, OH 43606 | $ | 7,300,000 | |||
Kings Gate | 44090 Kings Gate Drive Sterling Heights, MI 48314 | $ | 6,600,000 | |||
Lakewood | 5735 Ridgeway Drive Haslett, MI 48840 | $ | 5,900,000 | |||
Lancaster Commons | 2489 Coral Avenue NE Salem, OR 97305 | $ | 11,300,000 | |||
Lancaster Lakes | 5147 Lancaster Hill Drive Clarkston, MI 48346 | $ | 18,500,000 | |||
Nemoke Trail | 1765 Nemoke Trail Haslett, MI 48840 | $ | 19,000,000 | |||
Sugar Mill Creek | 8500 Belcher Road Pinellas Park, FL 33781 | $ | 10,600,000 | |||
Tualatin Heights | 9301 SW Sagert Road Tualatin, OR 97062 | $ | 14,575,000 |
A-2
2
3
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia limited partnership, | |||||||
its General Partner | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Virginia | |||||||
corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
HERITAGE — ASPEN COURT L.P., | ||||||||
an Arizona limited partnership | ||||||||
By: | HERITAGE SGP CORPORATION, | |||||||
an Arizona corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
4
SOUTH WEST PROPERTIES, L.P., | ||||||||||
a Delaware limited partnership | ||||||||||
By: | UDR HOLDINGS, LLC, a Virginia limited liability | |||||||||
company, its General Partner | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Sole Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, | ||||||||||
a Washington limited liability company | ||||||||||
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware limited | |||||||||
liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
HERITAGE — GENTRY PLACE L.P., | ||||||||||
an Arizona limited partnership | ||||||||||
By: | HERITAGE SGP CORPORATION, | |||||||||
an Arizona corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer |
5
AAC/FSC HILLTOP INVESTORS, LLC, | ||||||||||
a Washington limited liability company | ||||||||||
By: | AAC/FSC SEATTLE PROPERTIES, LLC, a Delaware | |||||||||
limited liability company, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Virginia | |||||||||
limited partnership, its Managing Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
UNITED DOMINION REALTY, L.P., | ||||||||||
a Virginia limited partnership, Sole Member | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||
a Virginia corporation, General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer | |||||||||
HERITAGE — SMITH SUMMIT L.P., | ||||||||||
an Arizona limited partnership | ||||||||||
By: | HERITAGE SGP CORPORATION, | |||||||||
an Arizona corporation, its General Partner | ||||||||||
By: | /s/ Ella S. Neyland | |||||||||
Name: | Ella S. Neyland | |||||||||
Title: | Executive Vice President and Treasurer |
6
UDR SUMMIT RIDGE, L.P., | ||||||||
a Delaware limited partnership | ||||||||
By: | SOUTH WEST REIT HOLDING, INC. | |||||||
a Texas corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
UDRT OF NORTH CAROLINA, L.L.C., | ||||||||
a North Carolina limited liability company | ||||||||
By: | UDR OF NC, Limited Partnership, | |||||||
a North Carolina limited partnership, its Sole Member | ||||||||
By: | UDR OF NORTH CAROLINA, INC., | |||||||
a North Carolina corporation, its General Partner | ||||||||
By: Name: | /s/ Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
UDR BEAUMONT, LLC, | ||||||||
a Virginia limited liability company | ||||||||
By: | HERITAGE COMMUNITIES L.P., | |||||||
a Delaware limited partnership, its Manager | ||||||||
By: | ASR INVESTMENTS CORPORATION, | |||||||
a Maryland corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
7
HERITAGE — CHELSEA PARK L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: Name: | /s/ Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer | |||||
HERITAGE — COUNTRY CLUB PLACE L.P., | ||||||
an Arizona limited partnership | ||||||
By: | HERITAGE SGP CORPORATION, | |||||
an Arizona corporation, its General Partner | ||||||
By: | /s/ Ella S. Neyland | |||||
Name: | Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer | |||||
CONTEMPO HEIGHTS L.L.C., | ||||||
an Arizona limited liability company | ||||||
By: | ASC PROPERTIES, INC., | |||||
an Arizona corporation, its Managing Member | ||||||
By: | /s/ Ella S. Neyland | |||||
Name: | Ella S. Neyland | |||||
Title: | Executive Vice President and Treasurer |
8
HERITAGE — ARBOR TERRACE I, L.L.C., | ||||||||
an Arizona limited liability company | ||||||||
By: | HERITAGE SGP CORPORATION, | |||||||
an Arizona corporation, its Managing Member | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
HERITAGE — ARBOR TERRACE II, L.L.C., | ||||||||
an Arizona limited liability company | ||||||||
By: | HERITAGE SGP CORPORATION, | |||||||
an Arizona corporation, its Managing Member | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer | |||||||
AAC FUNDING PARTNERSHIP II, | ||||||||
a Delaware general partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., | |||||||
a Virginia limited partnership, its General Partner | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||
a Virginia corporation, its General Partner | ||||||||
By: | /s/ Ella S. Neyland | |||||||
Name: | Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
9
JAMESTOWN OF ST. MATTHEWS LIMITED PARTNERSHIP, | ||||||||
an Ohio limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., | |||||||
a Virginia limited partnership, its General Partner | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||
a Virginia corporation, its General Partner | ||||||||
By: Name: | /s/ Ella S. Neyland | |||||||
Title: | Executive Vice President and Treasurer |
10
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||
By: Name: | /s/ Shelly Eisenberg | |||||
Title: | Vice President |
11
2
3
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner |
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
a Washington limited liability company
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
4
a Washington limited liability company
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
a Delaware limited partnership
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
a North Carolina limited partnership
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner |
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member |
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
5
a Delaware general partnership
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
a Delaware limited partnership
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner |
By: ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
6
an Ohio limited partnership
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner |
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner |
By: | /s/ Rodney A. Neuheardt | |||||
Name: | Rodney A. Neuheardt | |||||
Title: | Senior Vice President—Finance & Treasurer |
7
By: ACMC Realty, Inc., a California Corporation, its General Partner |
By: | /s/ Larry R. Sneathern | |||||
Larry R. Sneathern | ||||||
Senior Vice President |
8
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||||
Woodlake Village | 200 Bicentennial Circle Sacramento, CA 95826 | $ | 44,800,000 | |||
Aspen Court | 2305 Ashcroft Arlington, TX 76006 | $ | 5,700,000 | |||
Braesridge | 11100 Braesridge Houston, TX 77071 | $ | 14,650,00 | |||
Crown Pointe | 3788 NE 4th Street Renton, WA 98056 | $ | 11,900,000 | |||
Derby Park | 606 W. Safari Parkway Grand Prairie, TX 75050 | $ | 15,900,000 | |||
Hilltop | 500 Monroe Avenue NE Renton, WA 98056 | $ | 11,000,000 | |||
Riverwood | 1045 Holcomb Bridge Road Roswell, GA 30076 | $ | 16,750,000 | |||
The Summit | 1057 Americana Lane Mesquite, TX 75150 | $ | 12,250,000 | |||
Summit Ridge | 1604 Ridge Haven Drive Arlington, TX 76011 | $ | 11,000,000 | |||
Village at Cliffdale | 567 Cutchen Lane Fayetteville, NC 28314 | $ | 16,500,000 | |||
Beaumont | 8504 82nd Street, S.W. Lakewood, WA 98498 | $ | 15,200,000 | |||
Chelsea Park | 11000 Crescent Moon Houston, TX 77064 | $ | 7,700,000 | |||
Country Club Place | 1111 Golfview Richmond, TX 77469 | $ | 7,000,000 | |||
Dunwoody Pointe | 7901 Roswell Road Atlanta, GA 30350 | $ | 14,100,000 | |||
Stonegate | 825 S. Alma School Road Mesa, AZ 85210 | $ | 7,400,000 | |||
Trinity Park | 5301 Creek Ridge Lane Raleigh, NC 27607 | $ | 22,540,000 | |||
Arbor Terrace I | 1800 Sidney Avenue Port Orchard, WA 98366 | $ | 7,913,043 | |||
Arbor Terrace II | 1790 Sidney Avenue Port Orchard, WA 98366 | $ | 6,086,957 | |||
Brandywine Creek | 3075 Endenhall Way East Lansing MI 48823 | $ | 20,200,000 | |||
Foothills Tennis Village | 5 Marcia Way Roseville, CA 95747 | $ | 22,600,000 | |||
Jamestown of Toledo | 3215 Milstead Drive Toledo, OH 43606 | $ | 7,300,000 | |||
Lancaster Commons | 2489 Coral Avenue NE Salem, OR 97305 | $ | 11,300,000 | |||
Lancaster Lakes | 5147 Lancaster Hill Drive Clarkston, MI 48346 | $ | 18,500,000 |
A-1
Property Name | Property Address | Initial Valuation | ||||
Nemoke Trail | 1765 Nemoke Trail Haslett, MI 48840 | $ | 19,000,000 | |||
Sugar Mill Creek | 8500 Belcher Road Pinellas Park, FL 33781 | $ | 10,600,000 | |||
Tualatin Heights | 9301 SW Sagert Road Tualatin, OR 97062 | $ | 14,575,000 | |||
Alexander Court | 135 Reynoldsburg-New Albany Road Reynoldsburg, OH 43068 | $ | 18,520,550 | |||
Meadows at Kildaire | 2600 Harvest Creek Place Apex, NC 27539 | $ | 20,109,220 |
A-2
2
3
BORROWER | ||||||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||||||
By: | /s/ Scott A. Shanaberger | |||||||||
Name: | Scott A. Shanaberger | |||||||||
Title: | Senior Vice President and Chief Accounting Officer | |||||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: Name: | /s/ Scott A. Shanaberger | |||||||||
Title: | Senior Vice President and Chief Accounting Officer | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, a Washington limited liability company | ||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||
By: | /s/ Scott A. Shanaberger | |||||||||
Name: | Scott A. Shanaberger | |||||||||
Title: | Senior Vice President and Chief Accounting Officer |
4
AAC/FSC HILLTOP INVESTORS, LLC, a Washington limited liability company | ||||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||||
By: | /s/ Scott A. Shanaberger | |||||||||||
Name: | Scott A. Shanaberger | |||||||||||
Title: | Senior Vice President and Chief Accounting Officer | |||||||||||
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: | /s/ Scott A. Shanaberger | |||||||||||
Name: | Scott A. Shanaberger | |||||||||||
Title: | Senior Vice President and Chief Accounting Officer | |||||||||||
UDR OF NC, LIMITED PARTNERSHIP, a North Carolina limited partnership | ||||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner | |||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member | |||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: Name: | /s/ Scott A. Shanaberger | |||||||||||
Title: | Senior Vice President and Chief Accounting Officer |
5
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||||||
By: | /s/ Scott A. Shanaberger | |||||||||
Name: | Scott A. Shanaberger | |||||||||
Title: | Senior Vice President and Chief Accounting Officer | |||||||||
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner | |||||||||
By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member | |||||||||
By: Name: | /s/ Scott A. Shanaberger | |||||||||
Title: | Senior Vice President and Chief Accounting Officer | |||||||||
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner | |||||||||
By: | /s/ Scott A. Shanaberger | |||||||||
Name: | Scott A. Shanaberger | |||||||||
Title: | Senior Vice President and Chief Accounting Officer |
6
LENDER | ||||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||||
By: | /s/ Sharlene G. Bloom | |||||||
Name: | Sharlene G. Bloom | |||||||
Title: | Vice President | |||||||
7
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||
Woodlake Village | 200 Bicentennial Circle | $44,800,000 | ||
Sacramento, CA 95826 | ||||
Aspen Court | 2305 Ashcroft | $5,700,000 | ||
Arlington, TX 76006 | ||||
Braesridge | 11100 Braesridge | $14,650,00 | ||
Houston, TX 77071 | ||||
Crown Pointe | 3788 NE 4th Street | $11,900,000 | ||
Renton, WA 98056 | ||||
Derby Park | 606 W. Safari Parkway | $15,900,000 | ||
Grand Prairie, TX 75050 | ||||
Hilltop | 500 Monroe Avenue NE | $11,000,000 | ||
Renton, WA 98056 | ||||
Riverwood | 1045 Holcomb Bridge Road | $16,750,000 | ||
Roswell, GA 30076 | ||||
The Summit | 1057 Americana Lane | $12,250,000 | ||
Mesquite, TX 75150 | ||||
Summit Ridge | 1604 Ridge Haven Drive | $11,000,000 | ||
Arlington, TX 76011 | ||||
Village at Cliffdale | 567 Cutchen Lane | $16,500,000 | ||
Fayetteville, NC 28314 | ||||
Beaumont | 8504 82nd Street, S.W. | $15,200,000 | ||
Lakewood, WA 98498 | ||||
Chelsea Park | 11000 Crescent Moon | $7,700,000 | ||
Houston, TX 77064 | ||||
Country Club Place | 1111 Golfview | $7,000,000 | ||
Richmond, TX 77469 | ||||
Dunwoody Pointe | 7901 Roswell Road | $14,100,000 | ||
Atlanta, GA 30350 | ||||
Trinity Park | 5301 Creek Ridge Lane | $22,540,000 | ||
Raleigh, NC 27607 | ||||
Arbor Terrace I | 1800 Sidney Avenue | $7,913,043 | ||
Port Orchard, WA 98366 | ||||
Arbor Terrace II | 1790 Sidney Avenue | $6,086,957 | ||
Port Orchard, WA 98366 | ||||
Foothills Tennis Village | 5 Marcia Way | $22,600,000 | ||
Roseville, CA 95747 | ||||
Jamestown of Toledo | 3215 Milstead Drive | $7,300,000 | ||
Toledo, OH 43606 | ||||
Lancaster Commons | 2489 Coral Avenue NE | $11,300,000 | ||
Salem, OR 97305 | ||||
Lancaster Lakes | 5147 Lancaster Hill Drive | $18,500,000 | ||
Clarkston, MI 48346 | ||||
Nemoke Trail | 1765 Nemoke Trail | $19,000,000 | ||
Haslett, MI 48840 | ||||
Sugar Mill Creek | 8500 Belcher Road | $10,600,000 | ||
Pinellas Park, FL 33781 |
A-1
Property Name | Property Address | Initial Valuation | ||
Tualatin Heights | 9301 SW Sagert Road | $14,575,000 | ||
Tualatin, OR 97062 | ||||
Alexander Court | 135 Reynoldsburg-New Albany Road | $18,520,550 | ||
Reynoldsburg, OH 43068 | ||||
Meadows at Kildaire | 2600 Harvest Creek Place | $20,109,220 | ||
Apex, NC 27539 |
A-2
2
3
4
5
6
7
8
9
10
11
BORROWER | ||||||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, a Washington limited liability company | ||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
12
AAC/FSC HILLTOP INVESTORS, LLC, a Washington limited liability company | ||||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||||
Name: | Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||||
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||||
Name: | Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||||
UDR OF NC, LIMITED PARTNERSHIP, a North Carolina limited partnership | ||||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner | |||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member | |||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President - Finance & Treasurer |
13
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner | |||||||||
By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member | |||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
14
UDR OF TENNESSEE, L.P., a Virginia limited partnership | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||
By: | /s/ Rodney A. Neuheardt | |||||||
Name: | Rodney A. Neuheardt | |||||||
Title: | Senior Vice President — Finance & Treasurer |
15
LENDER | ||||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||||
By: | /s/ Sharlene G. Bloom | |||||||
Name: | Sharlene G. Bloom | |||||||
Title: | Vice President | |||||||
16
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||
Woodlake Village | 200 Bicentennial Circle | $44,800,000 | ||
Sacramento, CA 95826 | ||||
Aspen Court | 2305 Ashcroft | $5,700,000 | ||
Arlington, TX 76006 | ||||
Braesridge | 11100 Braesridge | $14,650,00 | ||
Houston, TX 77071 | ||||
Crown Pointe | 3788 NE 4th Street | $11,900,000 | ||
Renton, WA 98056 | ||||
Derby Park | 606 W. Safari Parkway | $15,900,000 | ||
Grand Prairie, TX 75050 | ||||
Hilltop | 500 Monroe Avenue NE | $11,000,000 | ||
Renton, WA 98056 | ||||
Riverwood | 1045 Holcomb Bridge Road | $16,750,000 | ||
Roswell, GA 30076 | ||||
The Summit | 1057 Americana Lane | $12,250,000 | ||
Mesquite, TX 75150 | ||||
Summit Ridge | 1604 Ridge Haven Drive | $11,000,000 | ||
Arlington, TX 76011 | ||||
Village at Cliffdale | 567 Cutchen Lane | $16,500,000 | ||
Fayetteville, NC 28314 | ||||
Beaumont | 8504 82nd Street, S.W. | $15,200,000 | ||
Lakewood, WA 98498 | ||||
Chelsea Park | 11000 Crescent Moon | $7,700,000 | ||
Houston, TX 77064 | ||||
Country Club Place | 1111 Golfview | $7,000,000 | ||
Richmond, TX 77469 | ||||
Dunwoody Pointe | 7901 Roswell Road | $14,100,000 | ||
Atlanta, GA 30350 | ||||
Trinity Park | 5301 Creek Ridge Lane | $22,540,000 | ||
Raleigh, NC 27607 | ||||
Arbor Terrace I | 1800 Sidney Avenue | $7,913,043 | ||
Port Orchard, WA 98366 | ||||
Arbor Terrace II | 1790 Sidney Avenue | $6,086,957 | ||
Port Orchard, WA 98366 | ||||
Foothills Tennis Village | 5 Marcia Way | $22,600,000 | ||
Roseville, CA 95747 | ||||
Jamestown of Toledo | 3215 Milstead Drive | $7,300,000 | ||
Toledo, OH 43606 | ||||
Lancaster Commons | 2489 Coral Avenue NE | $11,300,000 | ||
Salem, OR 97305 | ||||
Sugar Mill Creek | 8500 Belcher Road | $10,600,000 | ||
Pinellas Park, FL 33781 | ||||
Tualatin Heights | 9301 SW Sagert Road | $14,575,000 | ||
Tualatin, OR 97062 | ||||
Alexander Court | 135 Reynoldsburg-New Albany Road | $18,520,550 | ||
Reynoldsburg, OH 43068 |
A-1
Property Name | Property Address | Initial Valuation | ||
Meadows at Kildaire | 2600 Harvest Creek Place | $20,109,220 | ||
Apex, NC 27539 | ||||
Carrington Hills | 4268 South Carothers Road | $24,900,000 | ||
Franklin, TN | ||||
Colonnade | 4100 Central Pike | $20,250,000 | ||
Nashville, TN |
A-2
2
3
4
BORROWER | ||||||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, a Washington limited liability company | ||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
5
AAC/FSC HILLTOP INVESTORS, LLC, a Washington limited liability company | ||||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||||
Name: | Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||||
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||||
Name: | Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||||
UDR OF NC, LIMITED PARTNERSHIP, a North Carolina limited partnership | ||||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner | |||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member | |||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President -Finance & Treasurer |
6
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner | |||||||||
�� | By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member | ||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
7
UDR OF TENNESSEE, L.P., a Virginia limited partnership | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
8
LENDER | ||||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||||
By: | /s/ Larry R. Sneathern | |||||||
Name: | Larry R. Sneathern | |||||||
Title: | Senior Vice President |
9
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||||
Woodlake Village | 200 Bicentennial Circle Sacramento, CA 95826 | $ | 44,800,000 | |||
Aspen Court | 2305 Ashcroft Arlington, TX 76006 | $ | 5,700,000 | |||
Braesridge | 11100 Braesridge Houston, TX 77071 | $ | 14,650,00 | |||
Crown Pointe | 3788 NE 4th Street Renton, WA 98056 | $ | 11,900,000 | |||
Derby Park | 606 W. Safari Parkway Grand Prairie, TX 75050 | $ | 15,900,000 | |||
Hilltop | 500 Monroe Avenue NE Renton, WA 98056 | $ | 11,000,000 | |||
Riverwood | 1045 Holcomb Bridge Road Roswell, GA 30076 | $ | 16,750,000 | |||
Summit Ridge | 1604 Ridge Haven Drive Arlington, TX 76011 | $ | 11,000,000 | |||
Village at Cliffdale | 567 Cutchen Lane Fayetteville, NC 28314 | $ | 16,500,000 | |||
Beaumont | 8504 82nd Street, S.W. Lakewood, WA 98498 | $ | 15,200,000 | |||
Chelsea Park | 11000 Crescent Moon Houston, TX 77064 | $ | 7,700,000 | |||
Country Club Place | 1111 Golfview Richmond, TX 77469 | $ | 7,000,000 | |||
Dunwoody Pointe | 7901 Roswell Road Atlanta, GA 30350 | $ | 14,100,000 | |||
Trinity Park | 5301 Creek Ridge Lane Raleigh, NC 27607 | $ | 22,540,000 | |||
Arbor Terrace I | 1800 Sidney Avenue Port Orchard, WA 98366 | $ | 7,913,043 | |||
Arbor Terrace II | 1790 Sidney Avenue Port Orchard, WA 98366 | $ | 6,086,957 | |||
Foothills Tennis Village | 5 Marcia Way Roseville, CA 95747 | $ | 22,600,000 | |||
Jamestown of Toledo | 3215 Milstead Drive Toledo, OH 43606 | $ | 7,300,000 | |||
Lancaster Commons | 2489 Coral Avenue NE Salem, OR 97305 | $ | 11,300,000 |
A-1
Property Name | Property Address | Initial Valuation | ||||
Sugar Mill Creek | 8500 Belcher Road Pinellas Park, FL 33781 | $ | 10,600,000 | |||
Tualatin Heights | 9301 SW Sagert Road Tualatin, OR 97062 | $ | 14,575,000 | |||
Alexander Court | 135 Reynoldsburg-New Albany Road Reynoldsburg, OH 43068 | $ | 18,520,550 | |||
Meadows at Kildaire | 2600 Harvest Creek Place Apex, NC 27539 | $ | 20,109,220 | |||
Carrington Hills | 4268 South Carothers Road Franklin, TN 37067 | $ | 24,900,000 | |||
Colonnade | 4100 Central Pike Nashville, TN | $ | 20,250,000 | |||
Sierra Canyon | 17500 North 67th Avenue Glendale, Arizona 85308 | To Be Supplemented |
A-2
2
3
4
5
6
7
8
9
10
11
BORROWER | ||||||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, a Washington limited liability company | ||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
12
AAC/FSC HILLTOP INVESTORS, LLC, a Washington limited liability company | ||||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||||
Name: | Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||||
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||||
Name: | Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||||
UDR OF NC, LIMITED PARTNERSHIP, a North Carolina limited partnership | ||||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner | |||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member | |||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||||
Title: | Senior Vice President — Finance & Treasurer |
13
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner | |||||||||
By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member | |||||||||
By: Name: | /s/ Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer | |||||||||
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner | |||||||||
By: | /s/ Rodney A. Neuheardt | |||||||||
Name: | Rodney A. Neuheardt | |||||||||
Title: | Senior Vice President — Finance & Treasurer |
14
UDR OF TENNESSEE, L.P., a Virginia limited partnership | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||
By: | /s/ Rodney A. Neuheardt | |||||||
Name: | ||||||||
Title: | Senior Vice President — Finance & Treasurer |
15
LENDER | ||||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||||
By: | /s/ Timothy L. White | |||||||
Name: | Timothy L. White | |||||||
Title: | Executive V.P. / COO |
16
2
3
4
BORROWER | ||||||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||||||
By: | /s/ Justin R. Sato | |||||||||
Name: | Justin R. Sato | |||||||||
Title: | Vice President | |||||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware | |||||||||
limited partnership, its General Partner | ||||||||||
By: | UNITED DOMINION REALTY TRUST, | |||||||||
INC., a Maryland corporation, its General Partner | ||||||||||
By: | /s/ Justin R. Sato | |||||||||
Name: | Justin R. Sato | |||||||||
Title: | Vice President | |||||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, a | ||||||||||
Washington limited liability company | ||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, | |||||||||
its Administrative Member | ||||||||||
By: | /s/ Justin R. Sato | |||||||||
Name: | Justin R. Sato | |||||||||
Title: | Vice President |
5
AAC/FSC HILLTOP INVESTORS, LLC, | ||||||||||||||
a Washington limited liability company | ||||||||||||||
By: | AAC SEATTLE I, INC., a Delaware | |||||||||||||
corporation, its Administrative Member | ||||||||||||||
By: | /s/ Justin R. Sato | |||||||||||||
Name: | Justin R. Sato | |||||||||||||
Title: | Vice President | |||||||||||||
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||||||
a Maryland corporation, its General Partner | ||||||||||||||
By: | /s/ Justin R. Sato | |||||||||||||
Name: | Justin R. Sato | |||||||||||||
Title: | Vice President | |||||||||||||
UDR OF NC, LIMITED PARTNERSHIP, a North | ||||||||||||||
Carolina limited partnership | ||||||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited | |||||||||||||
liability company, its General Partner | ||||||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited | |||||||||||||
partnership, its Sole Member | ||||||||||||||
By: | UNITED DOMINION REALTY | |||||||||||||
TRUST, INC., a Maryland corporation, its General Partner | ||||||||||||||
By: | /s/ Justin R. Sato | |||||||||||||
Name: | Justin R. Sato | |||||||||||||
Title: | Vice President |
6
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||||||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||||||||||
By: | /s/ Justin R. Sato | |||||||||||||
Name: | Justin R. Sato | |||||||||||||
Title: | Vice President | |||||||||||||
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||||||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability | |||||||||||||
company, its General Partner | ||||||||||||||
By: | ASR INVESTMENTS CORPORATION, a Maryland | |||||||||||||
corporation, its Sole Member | ||||||||||||||
By: | /s/ Justin R. Sato | |||||||||||||
Name: | Justin R. Sato | |||||||||||||
Title: | Vice President | |||||||||||||
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||||||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia | |||||||||||||
corporation, its General Partner | ||||||||||||||
By: | /s/ Justin R. Sato | |||||||||||||
Name: | Justin R. Sato | |||||||||||||
Title: | Vice President |
7
UDR OF TENNESSEE, L.P., a Virginia limited partnership | ||||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., | |||||||||||
a Maryland corporation, its General Partner | ||||||||||||
By: | /s/ Justin R. Sato | |||||||||||
Name: | Justin R. Sato | |||||||||||
Title: | Vice President |
8
LENDER | ||||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||||
By: | /s/ Timothy L. White | |||||||
Name: | Timothy L. White | |||||||
Title: | Executive Vice President | |||||||
9
2
3
4
BORROWER | ||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||
By: Name: | /s/ Justin R. Sato | |||||
Title: | Vice President |
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: Name: | /s/ Justin R. Sato | |||||||||
Title: | Vice President |
AAC/FSC CROWN POINTE INVESTORS, LLC, a Washington limited liability company | ||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||
By: Name: | /s/ Justin R. Sato | |||||||
Title: | Vice President | |||||||
[Signatures Continue] |
5
AAC/FSC HILLTOP INVESTORS, LLC, a Washington limited liability company | ||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||
By: Name: | /s/ Justin R. Sato | |||||||
Title: | Vice President |
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||
By: Name: | /s/ Justin R. Sato | |||||||
Title: | Vice President |
UDR OF NC, LIMITED PARTNERSHIP, a North Carolina limited partnership | ||||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner | |||||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member | |||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||||
By: Name: | /s/ Justin R. Sato | |||||||||||
Title: | Vice President | |||||||||||
[Signatures Continue] |
6
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||||
By: Name: | /s/ Justin R. Sato | |||||||
Title: | Vice President |
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner | |||||||||
By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member | |||||||||
By: Name: | /s/ Justin R. Sato | |||||||||
Title: | Vice President |
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner | |||||||
By: Name: | /s/ Justin R. Sato | |||||||
Title: | Vice President | |||||||
[Signatures Continue] |
7
UDR OF TENNESSEE, L.P., a Virginia limited partnership | ||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||
By: Name: | /s/ Justin R. Sato | |||||||
Title: | Vice President | |||||||
[Signatures Continue] |
8
LENDER | ||||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||||
By: | /s/ Timothy L. White | |||||||
Name: | Timothy L. White | |||||||
Title: | Executive Vice President | |||||||
9
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||||
Woodlake Village | 200 Bicentennial Circle | $ | 44,800,000 | |||
Sacramento, CA 95826 | ||||||
Aspen Court | 2305 Ashcroft | $ | 5,700,000 | |||
Arlington, TX 76006 | ||||||
Braesridge | 11100 Braesridge | $ | 14,650,00 | |||
Houston, TX 77071 | ||||||
Crown Pointe | 3788 NE 4th Street | $ | 11,900,000 | |||
Renton, WA 98056 | ||||||
Derby Park | 606 W. Safari Parkway | $ | 15,900,000 | |||
Grand Prairie, TX 75050 | ||||||
Hilltop | 500 Monroe Avenue NE | $ | 11,000,000 | |||
Renton, WA 98056 | ||||||
Riverwood | 1045 Holcomb Bridge Road | $ | 16,750,000 | |||
Roswell, GA 30076 | ||||||
Summit Ridge | 1604 Ridge Haven Drive | $ | 11,000,000 | |||
Arlington, TX 76011 | ||||||
Beaumont | 8504 82nd Street, S.W. | $ | 15,200,000 | |||
Lakewood, WA 98498 | ||||||
Chelsea Park | 11000 Crescent Moon | $ | 7,700,000 | |||
Houston, TX 77064 | ||||||
Country Club Place | 1111 Golfview | $ | 7,000,000 | |||
Richmond, TX 77469 | ||||||
Dunwoody Pointe | 7901 Roswell Road | $ | 14,100,000 | |||
Atlanta, GA 30350 | ||||||
Trinity Park | 5301 Creek Ridge Lane | $ | 22,540,000 | |||
Raleigh, NC 27607 | ||||||
Arbor Terrace I | 1800 Sidney Avenue | $ | 7,913,043 | |||
Port Orchard, WA 98366 | ||||||
Arbor Terrace II | 1790 Sidney Avenue | $ | 6,086,957 | |||
Port Orchard, WA 98366 | ||||||
Foothills Tennis Village | 5 Marcia Way | $ | 22,600,000 | |||
Roseville, CA 95747 | ||||||
Jamestown of Toledo | 3215 Milstead Drive | $ | 7,300,000 | |||
Toledo, OH 43606 | ||||||
Lancaster Commons | 2489 Coral Avenue NE | $ | 11,300,000 | |||
Salem, OR 97305 | ||||||
Sugar Mill Creek | 8500 Belcher Road | $ | 10,600,000 | |||
Pinellas Park, FL 33781 |
A-1
Property Name | Property Address | Initial Valuation | ||||
Tualatin Heights | 9301 SW Sagert Road | $ | 14,575,000 | |||
Tualatin, OR 97062 | ||||||
Alexander Court | 135 Reynoldsburg-New Albany Road | $ | 18,520,550 | |||
Reynoldsburg, OH 43068 | ||||||
Meadows at Kildaire | 2600 Harvest Creek Place | $ | 20,109,220 | |||
Apex, NC 27539 | ||||||
Carrington Hills | 4268 South Carothers Road | $ | 24,900,000 | |||
Franklin, TN 37067 | ||||||
Colonnade | 4100 Central Pike | $ | 20,250,000 | |||
Nashville, TN | ||||||
Sierra Canyon | 17500 North 67th Avenue | $ | 17,402,983 | |||
Glendale, Arizona 85308 | ||||||
Green Tree Place | 9480 Princeton Square Boulevard | $ | 25,927,733 | |||
Jacksonville, Florida 32256 |
A-2
MASTER CREDIT FACILITY AGREEMENT
2
3
4
5
BORROWER | ||||||||
UNITED DOMINION REALTY TRUST, INC., a Maryland corporation | ||||||||
By: | /s/ Michael A. Ernst | |||||||
Name: | Michael A. Ernst | |||||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||||
WOODLAKE VILLAGE, L.P., a California limited partnership | ||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its General Partner | |||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||
By: | /s/ Michael A. Ernst | |||||||
Name: | Michael A. Ernst | |||||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||||
AAC/FSC CROWN POINTE INVESTORS, LLC, a Washington limited liability company | ||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||
By: | /s/ Michael A. Ernst | |||||||
Name: | Michael A. Ernst | |||||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||||
[Signatures Continue] |
6
AAC/FSC HILLTOP INVESTORS, LLC, a Washington limited liability company | ||||||||||
By: | AAC SEATTLE I, INC., a Delaware corporation, its Administrative Member | |||||||||
By: | /s/ Michael A. Ernst | |||||||||
Name: | Michael A. Ernst | |||||||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||||||
UNITED DOMINION REALTY, L.P., a Delaware limited partnership | ||||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: | /s/ Michael A. Ernst | |||||||||
Name: | Michael A. Ernst | |||||||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||||||
UDR OF NC, LIMITED PARTNERSHIP, a North Carolina limited partnership | ||||||||||
By: | UDRT OF DELAWARE 4 LLC, a Delaware limited liability company, its General Partner | |||||||||
By: | UNITED DOMINION REALTY, L.P., a Delaware limited partnership, its Sole Member | |||||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||||||
By: | /s/ Michael A. Ernst | |||||||||
Name: | Michael A. Ernst | |||||||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||||||
[Signatures Continue] |
7
AAC FUNDING PARTNERSHIP II, a Delaware general partnership | ||||||
By: | AAC FUNDING II, INC., a Delaware corporation, its Managing Partner | |||||
By: | /s/ Michael A. Ernst | |||||
Name: | Michael A. Ernst | |||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||
HERITAGE COMMUNITIES L.P., a Delaware limited partnership | ||||||
By: | ASR OF DELAWARE LLC, a Delaware limited liability company, its General Partner | |||||
By: | ASR INVESTMENTS CORPORATION, a Maryland corporation, its Sole Member | |||||
By: | /s/ Michael A. Ernst | |||||
Name: | Michael A. Ernst | |||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||
UDR TEXAS PROPERTIES, L.P., a Delaware limited partnership | ||||||
By: | UDR WESTERN RESIDENTIAL, INC., a Virginia corporation, its General Partner | |||||
By: | /s/ Michael A. Ernst | |||||
Name: | Michael A. Ernst | |||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||
[Signatures Continue] |
8
UDR OF TENNESSEE, L.P., a Virginia limited partnership | ||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, its General Partner | |||||
By: | /s/ Michael A. Ernst | |||||
Name: | Michael A. Ernst | |||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||
UDR CALIFORNIA PROPERTIES, LLC, a Virginia limited liability company | ||||||
By: | UNITED DOMINION REALTY TRUST, INC., a Maryland corporation, Manager | |||||
By: | /s/ Michael A. Ernst | |||||
Name: | Michael A. Ernst | |||||
Title: | Executive Vice President, Treasurer & Chief Financial Officer | |||||
[Signatures Continue] |
9
LENDER | ||||||
ARCS COMMERCIAL MORTGAGE CO., L.P., a California limited partnership | ||||||
By: | ACMC Realty, Inc., a California Corporation, its General Partner | |||||
By: | /s/ Timothy L. White | |||||
Name: | Timothy L. White | |||||
Title: | Executive Vice President | |||||
10
AND INITIAL VALUATIONS
Property Name | Property Address | Initial Valuation | ||||
Woodlake Village | 200 Bicentennial Circle | $ | 44,800,000 | |||
Sacramento, CA 95826 | ||||||
Aspen Court | 2305 Ashcroft | $ | 5,700,000 | |||
Arlington, TX 76006 | ||||||
Braesridge | 11100 Braesridge | $ | 14,650,00 | |||
Houston, TX 77071 | ||||||
Crown Pointe | 3788 NE 4th Street | $ | 11,900,000 | |||
Renton, WA 98056 | ||||||
Derby Park | 606 W. Safari Parkway | $ | 15,900,000 | |||
Grand Prairie, TX 75050 | ||||||
Hilltop | 500 Monroe Avenue NE | $ | 11,000,000 | |||
Renton, WA 98056 | ||||||
Riverwood | 1045 Holcomb Bridge Road | $ | 16,750,000 | |||
Roswell, GA 30076 | ||||||
Summit Ridge | 1604 Ridge Haven Drive | $ | 11,000,000 | |||
Arlington, TX 76011 | ||||||
Chelsea Park | 11000 Crescent Moon | $ | 7,700,000 | |||
Houston, TX 77064 | ||||||
Country Club Place | 1111 Golfview | $ | 7,000,000 | |||
Richmond, TX 77469 | ||||||
Dunwoody Pointe | 7901 Roswell Road | $ | 14,100,000 | |||
Atlanta, GA 30350 | ||||||
Trinity Park | 5301 Creek Ridge Lane | $ | 22,540,000 | |||
Raleigh, NC 27607 | ||||||
Arbor Terrace I | 1800 Sidney Avenue | $ | 7,913,043 | |||
Port Orchard, WA 98366 | ||||||
Arbor Terrace II | 1790 Sidney Avenue | $ | 6,086,957 | |||
Port Orchard, WA 98366 | ||||||
Foothills Tennis Village | 5 Marcia Way | $ | 22,600,000 | |||
Roseville, CA 95747 | ||||||
Jamestown of Toledo | 3215 Milstead Drive | $ | 7,300,000 | |||
Toledo, OH 43606 | ||||||
Lancaster Commons | 2489 Coral Avenue NE | $ | 11,300,000 | |||
Salem, OR 97305 | ||||||
Sugar Mill Creek | 8500 Belcher Road | $ | 10,600,000 | |||
Pinellas Park, FL 33781 | ||||||
Tualatin Heights | 9301 SW Sagert Road | $ | 14,575,000 | |||
Tualatin, OR 97062 |
A-1
Property Name | Property Address | Initial Valuation | ||||
Alexander Court | 135 Reynoldsburg-New Albany Road | $ | 18,520,550 | |||
Reynoldsburg, OH 43068 | ||||||
Meadows at Kildaire | 2600 Harvest Creek Place | $ | 20,109,220 | |||
Apex, NC 27539 | ||||||
Carrington Hills | 4268 South Carothers Road | $ | 24,900,000 | |||
Franklin, TN 37067 | ||||||
Colonnade | 4100 Central Pike | $ | 20,250,000 | |||
Nashville, TN | ||||||
Sierra Canyon | 17500 North 67th Avenue | $ | 17,402,983 | |||
Glendale, Arizona 85308 | ||||||
Green Tree Place | 9480 Princeton Square Boulevard | $ | 25,927,733 | |||
Jacksonville, Florida 32256 | ||||||
Rancho Vallecitos | 823 N. Nordahl Road | $ | 26,332,932 | |||
San Marcos, California 92069 |
A-2