SECURITIES ACT OF 1993 FILE NO: (IF APPLICATION OF
DETERMINE ELIGIBILITY OF TRUSTEE FOR DELAYED OFFERING
PURSUANT TO SECTION 305(b)(2)
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________
FORM T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION
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)______
____________________________
THE FIRST NATIONAL BANK OF BOSTON
(Exact name of trustee as specified in its charter)
04-2472499
(I.R.S. employer Identification No.)
100 Federal Street, Boston, Massachusetts 02110
(Address of principal executive offices) (Zip Code)
Gary A. Speiss, Cashier and General Counsel
100 Federal Street, 24th Floor, Boston, Massachusetts 02110
(617) 434-2870
(Name, address and telephone number of agent for service)
_______________________________
NEW PLAN REALTY TRUST
(Exact name of obligor as specified in its charter)
MASSACHUSETTS 13-1995781
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1120 AVENUE OF THE AMERICAS 10036
NEW YORK, NEW YORK (Zip Code)
(Address of principal executive offices)
Senior 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.
Comptroller of the Currency of the United States, Washington,
D.C.
Board of Governors of the Federal Reserve System, Washington,
D.C.
Federal Deposit Insurance Corporation, Washington, D.C.
(b) Whether it is authorized to exercise corporate trust
powers.
Trustee is authorized to exercise corporate trust powers.
2. Affiliations with Obligor and Underwriters.
If the obligor or any underwriter for the obligor is an
affiliate of the trustee, describe each such affiliation.
None with respect to the Trustee.
(See Notes on page 2)
None with respect to Bank of Boston Corporation.
3. through 11. Not applicable.
12. Indebtedness of the Obligor of the Trustee
COL. A COL. B COL. C
NATURE OF AMOUNT
INDEBTEDNESS OUTSTANDING DATE DUE
____________ ___________ ________
N/A -0- N/A
13. through 15. Not applicable.
16. List of Exhibits.
List below all exhibits filed as part of this statement of
eligibility and qualification.
1. A copy of the articles of association of the trustee as
now in effect.
A certified copy of the Articles of Association of the trustee
is filed as Exhibit No. 1 to statement of eligibility and
qualification No. 22-9514 and is incorporated herein by reference
thereto.
2. A copy of the certificate of authority of the trustee to
commence business, if not contained in the articles of association.
A copy of the certificate of T. McLean Griffin, Cashier of the
trustee, dated February 3, 1978, as to corporate succession
containing copies of the Certificate of the Comptroller of the
Currency that The Massachusetts Bank, National Association, into
which The First National Bank of Boston was merged effective
January 4, 1971, is authorized to commence the business of banking
as a national banking association, as well as a certificate as to
such merger is filed as Exhibit No. 2 to statement of eligibility
and qualification No. 22-9514 and is incorporated herein by
reference thereto.
3. A copy of the authorization of the trustee to exercise
corporate trust powers, if such authorization is not contained in
the documents specified in paragraph (1) or (2) above.
A copy of a certificate of the Office of the Currency dated
February 6, 1978 is filed as Exhibit No. 3 to statement of
eligibility and qualification No. 22-9514 and is incorporated
herein by reference thereto.
4. A copy of the existing by-laws of the trustee, or
instruments corresponding thereto.
A certified copy of the existing By-Laws of the trustee dated
December 23, 1993 is filed as Exhibit No. 4 to statement of
eligibility and qualification No. 22-25754 and is incorporated
herein by reference thereto.
5. The consent of the trustee required by Section 321(b) of
the Act.
The consent of the trustee required by Section 321(b) of the
Act is annexed hereto and made a part hereof.
6. A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its supervising or
examining authority.
A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its supervising or
examining authority is annexed hereto as Exhibit 7 and made a part
hereof.
NOTES
In answering any item in this Statement of Eligibility and
Qualification which relates to matters peculiarly within the
knowledge of the obligor or any underwriter for the obligor, the
trustee has relied upon information furnished to it by the obligor
and the underwriters, and the trustee disclaims responsibility for
the accuracy or completeness of such information.
The answer furnished to Item 2 of this statement will be
amended, if necessary, to reflect any facts which differ from those
stated and which would have been required to be stated if known at
the date hereof.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939,
the trustee, The First National Bank of Boston, a national banking
association organized and existing under the laws of The United
States of America, has duly caused this statement of eligibility
and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the Town of Canton and
Commonwealth of Massachusetts, on the 24th day of March, 1995
THE FIRST NATIONAL BANK OF BOSTON, Trustee
By: KECIA R. BANKS
_____________________________
KECIA R. BANKS
SENIOR ACCOUNT ADMINISTRATOR
EXHIBIT 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust
Indenture Act of 1939 in connection with the proposed issue by New
Plan Realty Trust, Senior Debt Securities, we hereby consent 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.
THE FIRST NATIONAL BANK OF BOSTON, Trustee
By: KECIA R. BANKS
_____________________________
KECIA R. BANKS
SENIOR ACCOUNT ADMINISTRATOR
EXHIBIT 7
CONSOLIDATED REPORT OF CONDITION, INCLUDING DOMESTIC AND FOREIGN
SUBSIDIARIES, OF
THE FIRST NATIONAL BANK OF BOSTON
In the Commonwealth of Massachusetts, at the close of business
on December 31, 1994. Published in response to call made by
Comptroller of the Currency, under Title 12, United States Code,
Section 161. Charter number 200. Comptroller of the Currency
Northeastern District.
ASSETS
Dollar
Amounts in
Thousands
__________
Cash and balances due from depository
institutions:
Noninterest-bearing balances and
currency and coin.............................. $1,862,093
Interest-bearing balances..................... 1,551,280
Securities....................................... 3,935,691
Federal funds sold and securities purchased under
agreements to resell in domestic offices of the
bank and of its Edge and Agreement subsidiaries,
and in IBF's:
Federal funds sold............................ 758,937
Securities purchased under
agreements to resell........................ 0
Loans and lease financing receivables:
Loans and leases, net of
unearned income............................ $25,796,462
LESS: Allowance for loan and lease
losses..................................... $ 534,630
LESS: Allocated transfer risk
reserve.................................... $ 0
Loans and leases, net of unearned income,
allowance and reserve....................... 25,261,832
Assets held in trading accounts................... 840,348
Premises and fixed assets (including
capitalized leases)............................ 398,475
Other real estate owned........................... 48,504
Investments in unconsolidated subsidiaries
and associated companies....................... 103,670
Customers' liability to this bank on acceptances
outstanding.................................... 304,031
Intangible assets................................. 651,394
Other assets...................................... 1,170,251
___________
Total Assets................................... $36,886,506
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LIABILITIES
Deposits:
In domestic offices............................ $14,924,310
Noninterest-bearing.............$ 4,035,673
Interest-bearing................ 10,888,637
In foreign offices, Edge and Agreement
subsidiaries, and IBF's........................ 9,998,764
Noninterest-bearing.................570,582
Interest-bearing..................9,428,182
Federal funds purchased and securities sold under
agreements to repurchase in domestic
offices of the bank and of its Edge and
Agreement subsidiaries, and in IBF's:
Federal funds purchased........................ 2,464,904
Securities sold under agreements
to repurchase................................ 277,077
Demand notes issued to the U.S. Treasury.......... 364,045
Trading Liabilities............................... 227,865
Other borrowed money.............................. 3,875,462
Mortgage indebtedness and obligations
under capitalized leases........................ 14,007
Bank's liability on acceptances
executed and outstanding........................ 305,512
Subordinated notes and debentures................. 979,167
Other liabilities.................................. 1,022,105
Total Liabilities.............................. 34,453,218
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Limited-life preferred stock and equity capital 0
EQUITY CAPITAL
Perpetual preferred stock and related surplus..... $ 0
Common stock...................................... 82,264
Surplus........................................... 987,524
Undivided profits and capital reserves............ 1,408,062
LESS: Net unrealized loss on marketable
equity securities............................... (39,027)
Cumulative foreign currency translation
adjustments..................................... (5,535)
Total equity capital.............................. 2,433,288
_________
Total Liabilities, Limited-life preferred
stock, and equity..........................$36,866,506
___________
___________
I, Robert T. Jefferson, Comptroller of the above-named bank,
do hereby declare that this Report of Condition is true and correct
to the best of my knowledge and belief.
Robert T. Jefferson
February 13, 1995
We, the undersigned directors, attest to the correctness of
this statement of resources and liabilities. We declare that it
has been examined by us, and to the best of our knowledge and
belief has been prepared in conformance with the instructions and
is true and correct.
Charles K. Gifford
Ira Stepanian
J. Donald Monan
Directors
February 13, 1995