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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A
TRUSTEE PURSUANT TO SECTION 305(b)(2)__________
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U.S. TRUST COMPANY OF TEXAS, N.A.
(Exact name of trustee as specified in its charter)
75-2353745
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
2001 Ross Avenue, Suite 2700 75201-2936
Dallas, Texas (Zip Code)
(Address of trustee's
principal executive offices)
Compliance Officer
U.S. Trust Company of Texas, N.A.
2001 Ross Avenue, Suite 2700
Dallas, Texas 75201-2936
(214) 754-1200
(Name, address and telephone number of agent for service)
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La Quinta Inns, Inc.
(Exact Name of obligor as specified in its charter)
Texas 74-1724417
(State or other jurisdication of (I.R.S. Employer
incorporation or organization) Identification No.)
112 East Pecan Street
P.O. Box 2636
San Antonio, Texas 78299-2636
(Address of principal executive offices) (Zip Code)
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___% Senior Notes due 2005
(Title of the indenture securities)
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GENERAL
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.
Federal Reserve Bank of Dallas (11th District), Dallas, Texas
(Board of Governors of the Federal Reserve System)
Federal Deposit Insurance Corporation, Dallas, Texas
The Office of the Comptroller of the Currency, Dallas, Texas
(b) Whether it is authorized to exercise corporate trust powers.
The Trust 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.
3. VOTING SECURITIES OF THE TRUSTEE.
Furnish the following information as to each class of voting securities
of the Trustee:
As of August 8, 1995
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Col A. Col B.
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Title of Class Amount Outstanding
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Capital Stock - par value $100 per share 5,000 shares
4. TRUSTEESHIPS UNDER OTHER INDENTURES.
Not Applicable
5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR OR
UNDERWRITERS.
Not Applicable
6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS OFFICIALS.
Not Applicable
7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR OFFICIALS.
Not Applicable
8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.
Not Applicable
9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.
Not Applicable
10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.
Not Applicable
11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON OWNING
50 PERCENT OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR.
Not Applicable
12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.
Not Applicable
13. dEFAULTS BY THE OBLIGOR.
Not Applicable
14. AFFILIATIONS WITH THE UNDERWRITERS.
Not Applicable
15. FOREIGN TRUSTEE.
Not Applicable
16. LIST OF EXHIBITS.
T-1.1 - A copy of the Articles of Association of U.S. Trust Company of
Texas, N.A.; incorporated herein by reference to Exhibit T-1.1
filed with Form T-1 Statement, Registration No. 22-21897.
16. (con't.)
T-1.2 - A copy of the certificate of authority of the Trustee to commence
business; incorporated herein by reference to Exhibit T-1.2 filed
with Form T-1 Statement, Registration No. 22-21897.
T-1.3 - A copy of the authorization of the Trustee to exercise corporate
trust powers; incorporated herein by reference to Exhibit T-1.3
filed with Form T-1 Statement, Registration No. 22-21897.
T-1.4 - A copy of the By-laws of the U.S. Trust Company of Texas, N.A.,
as amended to date; incorporated herein by reference to Exhibit
T-1.4 filed with Form T-1 Statement, Registration No. 22-21897.
T-1.5 - The consent of the Trustee required by Section 321(b) of the Trust
Indenture Act of 1939.
T-1.6 - A copy of the latest report of condition of the Trustee published
pursuant to law or the requirements of its supervising or
examining authority.
NOTE
As of July 24, 1995 the Trustee had 5,000 shares of Capital Stock
outstanding, all of which are owned by U.S. T.L.P.O. Corp. As of August 5,
1993 U.S. T.L.P.O. Corp. had 35 shares of Capital Stock outstanding, all of
which are owned by U.S. Trust Corporation. U.S. Trust Corporation had
outstanding 9,653,964 shares of $5 par value Common Stock as of July 24, 1995.
The term "Trustee" in Items 2, 5, 6, 7, 8, 9, 10 and 11 refers to each of
U.S. Trust Company of Texas, N.A., U.S. T.L.P.O. and U.S. Trust Corporation.
Inasmuch as this Form T-1 is filed prior to the ascertainment by the Trustee
of all the facts on which to base responsive answers to Items 2, 5, 6, 7, 9,
10 and 11, the answers to said Items are based upon incomplete information.
Items 2, 5, 6, 7, 9, 10 and 11 may, however, be considered correct unless
amended by an amendment to this Form T-1.
In answering any items in this Statement of Eligibility and Qualification
which relates to matters peculiarly within the knowledge of the obligors or
their directors or officers, or an underwriter for the obligors, the Trustee
has relied upon information furnished to it by the obligors and will rely on
information to be furnished by the obligors or such underwriter, and the
Trustee disclaims responsibility for the accuracy or completeness of such
information.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee,
U.S. Trust Company of Texas, N.A., a national banking association organized
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 City of Dallas, and State
of Texas on the 8th day of August, 1995.
U.S. Trust Company of Texas, N.A.,
Trustee
By: JOHN C. STOHLMANN
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John C. Stohlmann
Vice President
EXHIBIT T-1.5
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939 as amended in connection with the proposed issue of La Quinta Inns, Inc.
Senior Notes due 2005, we hereby consent that reports of examination by
Federal, State, Territorial or District authorities may be furnished by such
authorities to the Securities and Exchange Commission upon request therefor.
U.S. Trust Company of Texas, N.A.
By: JOHN C STOHLMANN
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John C. Stohlmann
Vice President
Board of Governors of the Federal Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-0052
Office of the Comptroller of the Currency
OMB Number: 1557-0081
Expires March 31, 1996
Exhibit T-1.6
Federal Financial Institutions Examination Council
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/1/
[Logo] Please refer to page i,
Table of Contents, for
the required disclosure
of estimated burden.
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CONSOLIDATED REPORTS OF CONDITION AND INCOME FOR
A BANK WITH DOMESTIC OFFICES ONLY AND
TOTAL ASSETS OF LESS THAN $100 MILLION -- FFIEC 034
(950630)
REPORT AT THE CLOSE OF BUSINESS JUNE 30, 1995 --------
________
This report is required by law: 12 U.S.C. Section 324 (State member banks); 12
U.S.C. Section 1817 (State nonmember banks); and 12 U.S.C. Section 161 (National
banks).
This report form is to be filed by banks with domestic offices only. Banks with
branches and consolidated subsidiaries in U.S. territories and possessions, Edge
or Agreement subsidiaries, foreign branches, consolidated foreign subsidiaries,
or International Banking Facilities must file FFIEC 031.
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NOTE: The Reports of Condition and Income must be signed by an authorized
officer and the Report of Condition must be attested to by not less than two
directors (trustees) for State nonmember banks and three directors for State
member and National banks.
I, /s/ Alfred B. Childs SVP & Cashier
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Name and Title of Officer Authorized to Sign Report
of the named bank do hereby declare that these Reports of Condition and Income
(including the supporting schedules) have been prepared in conformance with the
instructions issued by the appropriate Federal regulatory authority and are true
to the best of my knowledge and belief.
/s/ Alfred B. Childs
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Signature of Officer Authorized to Sign Report
7/19/95
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Date of Signature
The Reports of Condition and Income are to be prepared in accordance with
Federal regulatory authority instructions. NOTE: These instructions may in some
cases differ from generally accepted accounting principles.
We, the undersigned directors (trustees), attest to the correctness of this
Report of Condition (including the supporting schedules) and 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 issued by the appropriate Federal
regulatory authority and is true and correct.
/s/ Arthur White
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Director (Trustee)
/s/ Stuart M. Pearman
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Director (Trustee)
/s/ William J. Goodwin
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Director (Trustee)
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For Banks Submitting Hard Copy Report Forms:
STATE MEMBER BANKS: Return the original and one copy to the appropriate Federal
Reserve District Bank.
STATE NONMEMBER BANKS: Return the original only in the SPECIAL RETURN ADDRESS
ENVELOPE PROVIDED. If express mail is used in lieu of the special return address
envelope, return the original only to the FDIC, c/o Quality Data Systems, 2127
Espey Court, Suite 204, Crofton, MD 21114.
NATIONAL BANKS: Return the original only in the SPECIAL RETURN ADDRESS ENVELOPE
PROVIDED. If express mail is used in lieu of the special return address
envelope, return the original only to the FDIC, c/o Quality Data Systems, 2127
Espey Court, Suite 204, Crofton, MD 21114.
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FDIC Certificate Number / / / / / /
CALL NO. 192 34 06-30-95
CERT: 33217 02805 STBK 48-6797
U.S. TRUST COMPANY OF TEXAS, N.A.
500 NORTH AKARD, SUITE 2100
DALLAS, TX 75201
U.S. Trust Co. of Texas, N.A. Call Date: 06/30/95 ST-BK: 486797 FFIEC 034
2001 Ross Avenue Page RC-1
Dallas, TX 75201 Vendor ID: D Cert: 33217
Transit Number: 11101765 9
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR JUNE 30, 1995
ALL SCHEDULES ARE TO BE REPORTED IN THOUSANDS OF DOLLARS. UNLESS OTHERWISE
INDICATED, REPORT THE AMOUNT OUTSTANDING AS OF THE LAST BUSINESS DAY OF THE
QUARTER.
SCHEDULE RC - BALANCE SHEET
C100 --
Dollar Amounts in Thousands
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ASSETS
1. Cash and balances due from depository institutions:
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RCON
a. Noninterest-bearing balances and currency and coin (1,2)________________________________________ 0061 346 1.a
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RCON
b. Interest-bearing balances (3)___________________________________________________________________ 0071 33 1.b
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2. Securities:
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RCON
a. Held-to-maturity securities (from Schedule RC-B, column A)______________________________________ 1754 0 2.a
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RCON
b. Available-for-sale securities (from Schedule RC-B, column D)____________________________________ 1773 30,254 2.b
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3. Federal funds sold and securities purchased under agreements to resell:
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RCON
a. Federal funds sold (4)______________________________________ 0276 0 3.a
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RCON
b. Securities purchased under agreements to resell (5)_____________________________________________ 0277 0 3.b
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4. Loans and lease financing receivables:
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RCON
a. Loans and leases, net of unearned income (from Schedule RC-C)__________________ 2122 29,352 4.a
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RCON
b. LESS: Allowance for loan and lease losses______________________________________ 3123 421 4.b
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RCON
c. LESS: Allocated transfer risk reserve__________________________________________ 3128 0 4.c
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d. Loans and leases, net of unearned income, allowance, and reserve (item 4.a RCON
minus 4.b and 4.c)_____________________________________________________________ 2125 28,931 4.d
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RCON
5. Trading assets____________________________________________________________________________________ 3545 0 5.
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RCON
6. Premises and fixed assets (including capitalized leases)__________________________________________ 2145 570 6.
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RCON
7. Other real estate owned (from Schedule RC-M)______________________________________________________ 2150 0 7.
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RCON
8. Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M)__________ 2130 0 8.
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RCON
9. Customers' liability to this bank on acceptances outstanding______________________________________ 2155 0 9.
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RCON
10. Intangible assets (from Schedule RC-M)____________________________________________________________ 2143 646 10.
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RCON
11. Other assets (from Schedule RC-F)_________________________________________________________________ 2160 542 11.
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RCON
12.a. Total assets (sum of items 1 through 11)________________________________________________________ 2170 61,322 12.a
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RCON
b. Losses deferred pursuant to 12 U.S.C. 1823(j)____________________________________________________ 0306 0 12.b
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RCON
c. Total assets and losses deferred pursuant to 12 U.S.C. 1823 (j) (sum of items 12.a and 12.b)_____ 0307 61,322 12.c
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<FN>
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(1) Includes cash items in process of collection and unposted debits.
(2) The amount reported in this item must be greater than or equal to the sum of Schedule RC-M, items 3.a and 3.b
(3) Includes time certificates of deposit not held for trading.
(4) Report "term federal funds sold" in Schedule RC, item 4.a, "Loans and leases, net of unearned income", and in
Schedule RC-C, part I.
(5) Report securities purchased under agreements to resell that involve the receipt of immediately available funds and
mature in one business day or roll over under a continuing contract in Schedule RC, item 3.a, "Federal funds sold."
U.S. Trust Co. of Texas, N.A. Call Date: 06/30/95 ST-BK: 486797 FFIEC 034
2001 Ross Avenue Page RC-2
Dallas, TX 75201 Vendor ID: D Cert: 33217
Transit Number: 11101765 10
SCHEDULE RC - CONTINUED
Dollar Amounts in Thousands
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LIABILITIES
13. Deposits:
_________
RCON
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E)__________________ 2200 11,926 13.a
RCON 3,409 ---------
(1) Noninterest-bearing (1)_____________________________________________________6631 ------ 13.a.1
(2) Interest-bearing ___________________________________________________________6636 8,517 13.a.2
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b. In foreign offices, Edge and Agreement subsidiaries, and IBFs
(1) Noninterest-bearing_________________________________________________________
(2) Interest-bearing____________________________________________________________
14. Federal funds purchased and securities sold under agreements to repurchase:
---------
RCON 26,000 14.a
a. Federal funds purchased (2)__________________________________________________________________0278 ---------
RCON 0 14.b
b. Securities sold under agreements to repurchase (3) __________________________________________0279 ---------
RCON 0 15.a
15. a. Demand notes issued to the U.S. Treasury ____________________________________________________2840 ---------
RCON 0 15.b
b. Trading liabilities _________________________________________________________________________3548 ---------
16. Other borrowed money: ---------
RCON 0 16.a
a. With original maturity of one year or less __________________________________________________2332 ---------
RCON 3,000 16.b
b. With original maturity of more than one year ________________________________________________2333 ---------
RCON 0 17.
17. Mortgage indebtedness and obligations under capitalized leases _________________________________2910 ---------
RCON 0 18.
18. Bank's liability on acceptances executed and outstanding _______________________________________2920 ---------
RCON 0 19.
19. Subordinated notes and debentures ______________________________________________________________3200 ---------
RCON 2,497 20.
20. Other liabilities (from Schedule RC-G) _________________________________________________________2930 ---------
RCON 43,423 21.
21. Total liabilities (sum of items 13 through 20) _________________________________________________2948 ---------
---------
RCON 0
22. Limited-life preferred stock and related surplus _______________________________________________3282 --------- 22.
EQUITY CAPITAL ---------
RCON 7,000 23.
23. Perpetual preferred stock and related surplus __________________________________________________3838 ---------
RCON 500 24.
24. Common stock ___________________________________________________________________________________3230 ---------
RCON 8,384 25.
25. Surplus (exclude all surplus related to preferred stock) _______________________________________3839 ---------
RCON 2,012 26.a
26. a. Undivided profits and capital reserves ______________________________________________________8434 ---------
RCON 3 26.b
b. Net unrealized holding gains (losses) on available-for-sale securities ______________________3632 ---------
27. Cumulative foreign currency translation adjustments ____________________________________________ ---------
RCON 17,899 28.a
28. a. Total equity capital (sum of items 23 through 27) ___________________________________________3210 ---------
RCON 0 28.b
b. Losses deferred pursuant to 12 U.S.C. 1823(j) _______________________________________________0306 ---------
---------
c. Total equity capital and losses deferred pursuant to 12 U.S.C. 1823(j) RCON 17,899 28.c
(sum of items 28.a and 28.b) _______________________________________________________________3559 ---------
---------
29. Total liabilities, limited-life preferred stock, equity capital, and losses deferred pursuant RCON 61,322 29.
to 12 U.S.C. 1823(j) (sum of items 21, 22, and 28.c) ___________________________________________2257 ---------
<FN>
Memorandum
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the number of the statement below that best describes Number
the most comprehensive level of auditing work performed for the bank by independent RCON ----------
external auditors as of any date during 1994 ___________________________________________________6724 N/A M.1
----------
1 = Independent audit of the bank conducted in accordance 4 = Directors' examination of the bank performed by other
with generally accepted auditing standards by a certified external auditors (may be required by state chartering
public accounting firm which submits a report on the bank authority)
2 = Independent audit of the bank's parent holding company 5 = Review of the bank's financial statements by external
conducted in accordance with generally accepted auditing auditors
standards by a certified public accounting firm which 6 = Compilation of the bank's financial statements by
submits a report on the consolidated holding company (but external auditors
not on the bank separately) 7 = Other audit procedures (excluding tax preparation work)
3 = Directors' examination of the bank conducted in accordance 8 = No external audit work
with generally accepted auditing standards by a certified
public accounting firm (may be required by state chartering
authority)
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(1) Includes total demand deposits and noninterest-bearing time and savings deposits.
(2) Report "term federal funds purchased" in Schedule RC, item 16, "Other borrowed money."
(3) Report securities sold under agreements to repurchase that involve the receipt of immediately available funds and
mature in one business day or roll over under a continuing contract in Schedule RC, item 14.a, "Federal funds purchased."