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10-K - 10-K - FIRST POTOMAC REALTY TRUSTd300160d10k.htm
EX-12 - EX-12 - FIRST POTOMAC REALTY TRUSTd300160dex12.htm
EX-23 - EX-23 - FIRST POTOMAC REALTY TRUSTd300160dex23.htm
EX-21 - EX-21 - FIRST POTOMAC REALTY TRUSTd300160dex21.htm
EX-31.1 - EX-31.1 - FIRST POTOMAC REALTY TRUSTd300160dex311.htm
EX-32.2 - EX-32.2 - FIRST POTOMAC REALTY TRUSTd300160dex322.htm
EX-32.1 - EX-32.1 - FIRST POTOMAC REALTY TRUSTd300160dex321.htm
EX-31.2 - EX-31.2 - FIRST POTOMAC REALTY TRUSTd300160dex312.htm

Exhibit 4.8

Execution Copy

FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP

SECOND AMENDMENT

Dated as of April 15, 2011

to

NOTE PURCHASE AGREEMENT

Dated as of June 22, 2006

Re: $37,500,000 6.41% SENIOR NOTES, SERIES A, DUE JUNE 15, 2013

   $37,500,000 6.55% Senior Notes, Series B, due June 15, 2016


SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT

THIS SECOND AMENDMENT dated as of April 15, 2011 (the or this “Second Amendment”) to the Note Purchase Agreement dated as of June 22, 2006 (as amended by the First Amendment dated as of November 5, 2010, the “Note Purchase Agreement”) is between FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP, a Delaware limited partnership (the “Company”) and FIRST POTOMAC REALTY TRUST, a Maryland real estate investment trust (the “Trust”, the Trust and the Company being herein sometimes collectively referred to as the “Obligors”), and each of the institutions which is a signatory to this Second Amendment (collectively, the “Noteholders”).

R E C I T A L S:

A. The Obligors and each of the purchasers signatory to the Note Purchase Agreement have heretofore entered into the Note Purchase Agreement. The Company has heretofore issued the $37,500,000 6.41% Senior Notes, Series A, due June 15, 2013 and the $37,500,000 6.55% Senior Notes, Series B, due June 15, 2016 (collectively, the “Notes”) pursuant to the Note Purchase Agreement.

B. Concurrently with the execution of the Note Purchase Agreement, certain wholly owned Subsidiaries of the Obligors entered into that certain Guaranty Agreement, dated as of June 22, 2006, for the benefit of the holders of the Notes, pursuant to which such Subsidiaries (the “Subsidiary Guarantors”) guaranteed the Company’s obligations under the Notes and the Note Purchase Agreement (the “Subsidiary Guaranty”).

C. The Obligors and the Noteholders who have executed this Second Amendment (such Noteholders representing at least 51% in principal amount of the Notes currently outstanding) now desire to amend certain provisions of the Note Purchase Agreement upon a majority of the Noteholders’ acceptance in the space below and upon the satisfaction in full of each of the following conditions set forth in Section 2.1 hereto (the “Effective Date”) in the respects, but only in the respects, hereinafter set forth.

D. The Obligors and the Noteholders acknowledge that, in accordance with Section 17.2 of the Note Purchase Agreement, the Obligors must provide each Noteholder with sufficient information, 45 days in advance of the date a decision is required (the “Solicitation Period”), to enable such Noteholder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions of the Note Purchase Agreement or the Notes.

E. Notwithstanding the 45-day Solicitation Period required by Section 17.2 of the Note Purchase Agreement, the Obligors and the Noteholders now desire to waive the Solicitation Period.

F. Capitalized terms used herein shall have the respective meanings ascribed thereto in the Note Purchase Agreement unless herein defined or the context shall otherwise require.


G. All requirements of law have been fully complied with and all other acts and things necessary to make this Second Amendment a valid, legal and binding instrument according to its terms for the purposes herein expressed have been done or performed.

NOW, THEREFORE, upon the full and complete satisfaction of the conditions precedent to the effectiveness of the Second Amendment set forth in Section 2.1 hereof, and in consideration of good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Obligors and the Noteholders do hereby agree as follows:

 

SECTION

1. AMENDMENTS.

Section 1.1. Section 7.2(a) of the Note Purchase Agreement shall be amended by inserting before the “;” at the end thereof the following phrase:

“and a list of Excluded Subsidiaries (including the income generated by, and asset values of, properties owned by such Subsidiary and the aggregate amount and description of outstanding debt (including dates of assumption, coupon rates and maturity dates thereof) owed by such Subsidiary)”

Section 1.2 Defined Terms. Schedule B of the Note Purchase Agreement shall be amended as follows:

(a) The definition of “Excluded Subsidiary” shall be deleted in its entirety and replaced with the following definition:

““Excluded Subsidiary” means ACP East, LLC, ACP East Finance, LLC, AP Indian Creek, LLC, FP 500 First Street, LLC, Indian Creek Investors, LLC and each other New Asset Subsidiary; provided, however, that if any such Excluded Subsidiary ceases to be prohibited by its organizational documents or loan documents or other related financing documents, each as in effect on the date hereof, or in the case of a New Asset Subsidiary, on the date the relevant loan documents or other related financing documents were assumed by such New Asset Subsidiary or such entity becomes a Subsidiary of the Company, as applicable, and without extension, replacement, modification or renewal thereof, from incurring or guaranteeing other indebtedness, then such Excluded Subsidiary shall cease to be an Excluded Subsidiary and the Obligors shall within 30 days thereafter cause such Subsidiary to execute and deliver to each holder of Notes a Subsidiary Guaranty.”

 

2


(b) A new definition of “New Asset Subsidiary” shall be added to read as follows:

““New Asset Subsidiary” means

(i) (A) any Subsidiary of the Company that has acquired from a Person other than the Company or a Subsidiary land or buildings that are encumbered by a Lien; provided that such Lien is not created in contemplation of or in connection with such acquisition; or

(B) any entity that becomes a Subsidiary of the Company and that at the time such entity becomes a Subsidiary of the Company owns land or buildings that are encumbered by a Lien; provided that such Lien was not created in contemplation of or in connection with such entity becoming a Subsidiary of the Company; or

(C) any Subsidiary or Subsidiaries of the Company, or entity or entities that become(s) a Subsidiary or Subsidiaries of the Company, that owns or together own 100% of the equity interests of a Subsidiary or entity described in clauses (A) or (B) above; and

(ii) such Subsidiary or entity, as the case may be, is prohibited by its organizational documents or loan documents or other related financing documents, without extension, replacement, modification or renewal thereof, from incurring or guaranteeing Indebtedness, other than the Indebtedness secured by the Lien described in clauses (A) or (B) above.”

 

SECTION

2. AGREEMENTS.

Section 2.1. This Second Amendment shall become effective and binding upon the Company and the holders of the Notes on the Effective Date upon the satisfaction in full of each of the following conditions:

 

                     (a)

Each holder of a Note shall have received this Second Amendment, duly executed by the Company and the Trust.

(b) The holders of at least 51% in principal amount of the Notes outstanding shall have consented to this Second Amendment as evidenced by their execution thereof.

(c) The representations and warranties of the Company set forth in Section 2.2 hereof shall be true and correct as of the date of the execution and delivery of this Second Amendment.

(d) Each holder of a Note shall have received such certificates of officers of the Company and the Trust as it may reasonably request with respect to this Second Amendment and the transactions contemplated hereby.

(e) The Company shall have paid the fees and disbursements of the holders’ special counsel, Chapman and Cutler LLP, which fees and disbursements are reflected in the statement of such special counsel delivered to the Company at the time of the execution and delivery of this Second Amendment.

 

3


Section 2.2. The Obligors hereby jointly and severally represent and warrant that as of the date hereof and as of the date of execution and delivery of this Second Amendment:

(a) This Second Amendment and the transactions contemplated hereby are within the legal powers of the Obligors, have been duly authorized by all necessary legal action on the part of the Obligors, and this Second Amendment has been duly executed and delivered by the Obligors and constitutes a legal, valid and binding obligation of the Obligors enforceable against them in accordance with its terms.

(b) After giving effect to this Second Amendment, no Defaults or Events of Default under the Note Purchase Agreement shall exist and be continuing.

(c) The execution, delivery and performance of this Second Amendment by the Company does not and will not result in a violation of or default under (i) the limited partnership agreement of the Company, (ii) the declaration of trust or bylaws of the Trust, (iii) any agreement to which the Company is a party or by which it is bound or to which any of its properties is subject, (iv) any order, writ, injunction or decree binding on the Company, or (v) any statute, regulation, rule or other law applicable to the Company, except, in the case of (iii) through (v) above, for any violations or defaults that would not reasonably be expected to result in a Material Adverse Effect.

(d) No consent, approval or authorization of, or registration, filing or declaration with, any governmental authority is required in connection with the execution, delivery or performance by the Obligors of this Second Amendment, except where the failure to obtain such consents, approvals or authorizations, or to make such filings or declarations, would not reasonably be expected to result in a Material Adverse Effect.

(e) Schedule A attached to this Second Amendment lists properties owned by the Company which are encumbered by mortgages, together with the related income, asset values, maturity dates of the mortgages, dates of assumption and status as an Excluded Subsidiary, and such Schedule A is true and correct in all material respects.

(f) After giving effect to this Second Amendment and the terms of Section 2.1, each Subsidiary which owns an Eligible Unencumbered Property or is an obligor, borrower or guarantor of Indebtedness (other than Excluded Subsidiaries) will have delivered a Subsidiary Guaranty.

Section 2.3. This Second Amendment shall be construed in connection with and as part of the Note Purchase Agreement, and except as modified and expressly amended by this Second Amendment, all terms, conditions and covenants contained in the Note Purchase Agreement and the Notes are hereby ratified and shall be and remain in full force and effect.

 

4


Section 2.4. Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Second Amendment may refer to the Note Purchase Agreement without making specific reference to this Second Amendment but nevertheless all such references shall include this Second Amendment unless the context otherwise requires.

Section 2.5. The descriptive headings of the various Sections or parts of this Second Amendment are for convenience only and shall not affect the meaning or construction of any of the provisions hereof.

Section 2.6. This Second Amendment shall be governed by and construed in accordance with the law of the State of New York.

Section 2.7. The execution hereof by the parties hereto shall constitute a contract among the parties for the uses and purposes hereinabove set forth, and this Second Amendment may be executed in any number of counterparts, each executed counterpart constituting an original, but all together only one agreement.

[Signature page follows]

 

5


IN WITNESS WHEREOF, we have hereunto set our hands as of the date first set forth above.

 

    FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP
   

By: FIRST POTOMAC REALTY TRUST,

        Its sole general partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

 

    FIRST POTOMAC REALTY TRUST
    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

 

6


    

1400 CAVALIER, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

1441 CROSSWAYS BLVD., LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP AIRPARK AB, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

7


    

FP ASHBURN, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

AIRPARK PLACE, LLC

 

By:

 

Airpark Place Holdings LLC

Its Sole Member

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP AMMENDALE COMMERCE CENTER, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

8


 

    

AQUIA TWO, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

CROSSWAYS II LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FPR HOLDINGS LIMITED PARTNERSHIP

 

By:

 

FPR General Partner, LLC

Its General Partner

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

9


 

    

FP CHESTERFIELD ABEF, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP CHESTERFIELD CDGH, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP DAVIS DRIVE LOT 5, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

10


    

FP PROPERTIES, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP PROPERTIES II, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP DIAMOND HILL, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

11


    

FP CAMPOSTELLA ROAD, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

GATEWAY HAMPTON ROADS, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP GATEWAY CENTER, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

12


    

FP GATEWAY 270, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

GATEWAY MANASSAS II, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP 2550 ELLSMERE AVENUE, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

13


    

FP GATEWAY WEST II, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

GLEN DALE BUSINESS CENTER, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

    

FP GOLDENROD LANE, LLC

 

By:

 

First Potomac Realty Investment Limited Partnership

Its Sole Member

 

By:

 

First Potomac Realty Trust

Its General Partner

 

By:

  /s/ Barry H. Bass
   

Name:

 

Barry H. Bass

    Title:  

Executive Vice President and

Chief Financial Officer

(Signatures continued on next page)

 

14


 

   

FP GREENBRIER CIRCLE, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

GTC I SECOND LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

FP HANOVER AB, LLC

   

By: FPR Holdings Limited Partnership

       Its Sole Member

   

By: FPR General Partner, LLC

       Its General Partner

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

15


 

   

FP HANOVER C, LLC

   

By: FPR Holdings Limited Partnership

       Its Sole Member

   

By: FPR General Partner, LLC

       Its General Partner

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

FP HANOVER D, LLC

   

By: FPR Holdings Limited Partnership

       Its Sole Member

   

By: FPR General Partner, LLC

       Its General Partner

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

HERNDON CORPORATE CENTER, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

16


 

   

INTERSTATE PLAZA HOLDING, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

INTERSTATE PLAZA OPERATING, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

LINDEN II, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

17


 

   

LUCAS WAY HAMPTON, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

NORFOLK COMMERCE PARK, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

FP PARK CENTRAL V, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

18


 

   

FP PATRICK CENTER, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

FP PINE GLEN, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

RESTON BUSINESS CAMPUS, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

19


 

   

FP RIVERS BEND, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

FP 500 & 600 HP WAY, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

   

FP 1408 STEPHANIE WAY, LLC

   

By: First Potomac Realty Investment Limited Partnership

       Its Sole Member

   

By: First Potomac Realty Trust

       Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

20


 

FP STERLING PARK I, LLC

By:   First Potomac Realty Investment Limited Partnership
 

Its Sole Member

By:

 

First Potomac Realty Trust

 

Its General Partner

By:

 

/s/ Barry H. Bass

 

Name: Barry H. Bass

 

Title: Executive Vice President and

          Chief Financial Officer

FP STERLING PARK 6, LLC

By:

 

First Potomac Realty Investment Limited Partnership

  Its Sole Member

By:

 

First Potomac Realty Trust

 

Its General Partner

By:

 

/s/ Barry H. Bass

 

Name: Barry H. Bass

 

Title: Executive Vice President and

 

Chief Financial Officer

FP STERLING PARK 7, LLC

By:

 

First Potomac Realty Investment Limited Partnership

 

Its Sole Member

By:

 

First Potomac Realty Trust

 

Its General Partner

By:

 

/s/ Barry H. Bass

 

Name: Barry H. Bass

 

Title: Executive Vice President and

 

Chief Financial Officer

 

(Signatures continued on next page)

 

21


 

FP STERLING PARK LAND, LLC

By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

VIRGINIA CENTER, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP WEST PARK, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

22


 

FP CRONRIDGE DRIVE, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP GIRARD BUSINESS CENTER, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP GIRARD PLACE, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

23


 

TECHCOURT, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP PARK CENTRAL I, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP TRIANGLE, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

24


 

15395 JOHN MARSHALL HIGHWAY, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

WINDSOR AT BATTLEFIELD, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP NORTHRIDGE, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

25


 

FP PARK CENTRAL II, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

4212 TECHCOURT, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP 3 FLINT HILL, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

26


 

1211 CONNECTICUT AVENUE, LLC

By:   First Potomac DC Holdings, LLC
  Its Managing Member
By:   First Potomac Realty Trust Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP 440 1ST STREET, LLC
By:   First Potomac DC Holdings, LLC
  Its Managing Member
By:   First Potomac Realty Trust Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP ATLANTIC CORPORTATE PARK, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

27


 

FP CANDLEWOOD, LLC
By:   First Potomac Realty Trust Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

AQUIA ONE, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

ENTERPRISE CENTER I, LLC
By:   Enterprise Center Manager, LLC
  Its Managing Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

28


 

AP INDIAN CREEK. LLC
By:   FP Indian Creek, LLC
  Its Sole Member
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

INDIAN CREEK INVESTORS, LLC
By:   FP Indian Creek, LLC
  Its Sole Member
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

FP PROSPERITY, LLC
By:   First Potomac Realty Investment Limited Partnership
  Its Sole Member
By:   First Potomac Realty Trust
  Its General Partner
By:   /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and
 

Chief Financial Officer

 

(Signatures continued on next page)

 

29


    FP 535 INDEPENDENCE PARKWAY, LLC
   

By: First Potomac Realty Trust Limited Partnership

        Its Sole Member

   

By: First Potomac Realty Trust

        Its General Partner

    By:   /s/ Barry H. Bass
      Name: Barry H. Bass
     

Title:   Executive Vice President and

            Chief Financial Officer

(Signatures continued on next page)

 

 

30


Accepted and Agreed to:

 

    BENEFICIAL LIFE INSURANCE COMPANY
    By :    
      Name:
      Title:

 

31


Accepted and Agreed to:

 

   

FARM BUREAU LIFE INSURANCE COMPANY

EQUITRUST LIFE INSURANCE COMPANY

    By :   /s/ Herman L. Riva
      Name: Herman L. Riva
      Title: Securities Vice President

 

32


Accepted and Agreed to:

 

    OHIO NATIONAL LIFE ASSURANCE CORPORATION
    By:    
      Name:
      Title:

 

 

 

 

33


Accepted and Agreed to:

 

   

PACIFIC LIFE INSURANCE COMPANY

(NOMINEE: MAC & CO)

    By:   /s/ T. Anthony Premer
      Name: T. Anthony Premer
      Title: Vice President

 

    By:   /s/ Jennifer L. Portnoff
      Name: Jennifer L. Portnoff
      Title: Assistant Secretary

 

34


Accepted and Agreed to:

 

    MINNESOTA LIFE INSURANCE COMPANY
    By:     Advantus Capital Management, Inc.
    By:   /s/ E.A. Bergsland
      Name: E.A. Bergsland
      Title: Vice President

 

35


Accepted and Agreed to:

 

    MTL INSURANCE COMPANY
   

By: Advantus Capital Management, Inc.

    By:   /s/ E.A. Bergsland
      Name: E.A. Bergsland
      Title: Vice President

 

36


Accepted and Agreed to:

 

    SECURITY NATIONAL LIFE INSURANCE COMPANY
   

By: Advantus Capital Management, Inc.

    By:   /s/ E.A. Bergsland
      Name: E.A. Bergsland
      Title: Vice President

 

37


Accepted and Agreed to:

 

    UNITED INSURANCE COMPANY OF AMERICA
   

By: Advantus Capital Management, Inc.

    By:   /s/ E.A. Bergsland
      Name: E.A. Bergsland
      Title: Vice President

 

38


Accepted and Agreed to:

 

    BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.
   

By: Advantus Capital Management, Inc.

    By:   /s/ Rose A. Lambros
      Name: Rose A. Lambros
      Title: Vice President

 

39


Accepted and Agreed to:

 

    CATHOLIC UNITED FINANCIAL (FKA: THE CATHOLIC AID ASSOCIATION)
   

By: Advantus Capital Management, Inc.

    By:   /s/ Rose A. Lambros
      Name: Rose A. Lambros
      Title: Vice President

 

40


Accepted and Agreed to:

 

    FARM BUREAU LIFE INSURANCE COMPANY OF MICHIGAN
   

By: Advantus Capital Management, Inc.

    By:   /s/ Rose A. Lambros
      Name: Rose A. Lambros
      Title: Vice President

 

41


Accepted and Agreed to:

 

    FORT DEARBORN LIFE INSURANCE COMPANY
   

By: Advantus Capital Management, Inc.

    By:   /s/ Rose A. Lambros
      Name: Rose A. Lambros
      Title: Vice President

 

42


Accepted and Agreed to:

 

    UNITED LIFE INSURANCE COMPANY
    By:   /s/ Chad Gwenther
      Name: Chad Gwenther
      Title: Portfolio Manager

 

43


Accepted and Agreed to:

 

    THRIVENT FINANCIAL FOR LUTHERANS
    By:   /s/ Patricia Eitrheim
      Name: Patricia Eitrheim
      Title: Director

 

44


Schedule A

PROPERTIES ENCUMBERED BY MORTGAGES, THE RELATED INCOME, ASSET VALUES, MATURITY

DATES OF THE MORTGAGES, DATES OF ASSUMPTION

 

45


Schedule A

 

September 30, September 30, September 30, September 30, September 30,

Encumbered Properties

     Related Income
(2010 NOI)
    Asset Value
(2010 Book Value)
       Maturity
Date
       Date of
Assumption
       Subsidiary
Guaranty
Status
 

403/405 Glenn Drive

     $ 1,302,109      $ 17,105,643           7/1/2011           10/7/2005           Prohibited   

4612 Navistar Drive

       1,831,546        19,547,427           7/11/2011           12/23/2004           Prohibited   

Campus at Metro Park

       3,017,841        35,569,860           2/11/2012           12/23/2004           Prohibited   

One Fair Oaks(1)

       4,956,210        62,500,000           6/11/2012           4/8/2011           Prohibited   

1434 Crossways Boulevard Building II

       1,429,028        13,195,257           8/5/2012           8/17/2005           Prohibited   

Crossways Commerce Center

       4,277,505        29,418,277           10/1/2012           9/6/2002           Prohibited   

Newington Business Park Center

       2,311,515        13,581,907           10/1/2012           9/6/2002           Prohibited   

Prosperity Business Center

       875,204        9,091,859           1/1/2013           11/3/2005           Allowed   

Cedar Hill I & III(1)

       2,008,251        22,800,000           2/11/2013           2/22/2011           Prohibited   

Merrill Lynch Building(1)

       907,588        11,000,000           2/13/2013           2/22/2011           Prohibited   

1434 Crossways Boulevard Building I

       1,219,667        10,777,817           3/5/2013           8/17/2005           Prohibited   

Linden Business Center

       702,181        14,636,909           10/1/2013           10/13/2005           Prohibited   

840 First Street, NE(1)

       7,149,242        90,000,000           10/1/2013           3/14/2011           Prohibited   

Owings Mills Business Center

       761,752        8,618,669           3/1/2014           11/3/2005           Prohibited   

Annapolis Commerce Park East

       1,680,506        17,569,706           6/1/2014           6/18/2007           Prohibited   

Cloverleaf Center

       3,134,384        20,677,995           10/8/2014           10/4/2009           Allowed   

Plaza 500

       5,550,636        32,088,015           8/1/2015           7/18/2005           Prohibited   

Van Buren Business Park

       1,165,921        9,984,184           8/1/2015           7/18/2005           Prohibited   

Rumsey Center

       1,323,689        11,132,963           8/1/2015           7/18/2005           Prohibited   

Snowden Center

       1,532,314        14,769,258           8/1/2015           7/18/2005           Prohibited   

Greenbrier Technology Center II

       616,408        5,164,955           8/1/2015           7/18/2005           Prohibited   

Norfolk Business Center

       703,970        4,471,601           8/1/2015           7/18/2005           Prohibited   

Northridge I & II

       752,327        8,029,682           8/1/2015           7/18/2005           Prohibited   

15395 John Marshall Highway

       2,287,603        15,606,980           8/1/2015           7/18/2005           Prohibited   

Hanover Building D

       26,432        3,304,229           8/1/2015           6/27/2006           Allowed   

Hanover Building C

       244,117        3,865,389           12/1/2017           6/27/2006           Allowed   

Chesterfield Buildings C, D, G and H

       489,378        8,813,036           8/1/2015           6/27/2006           Allowed   

Chesterfield Buildings A, B, E and F

       461,207        6,535,018           6/1/2021           6/27/2006           Allowed   

7458 Candlewood Road

       1,955,256 2)      20,152,612           1/1/2016           12/29/2010           Allowed   

Gateway Centre Building I

       -19,311        3,308,067           11/1/2016           7/20/2005           Prohibited   

500 First Street, NW

       4,306,963 (2)      59,161,239           7/1/2020           6/30/2010           Prohibited   

Battlefield Corporate Center

       721,165 (2)      7,426,054           11/1/2020           10/28/2010           Allowed   

Airpark Business Center

       267,187        2,987,784           6/1/2021           6/27/2006           Allowed   

 

(1)

2011 Acquisition: income is first full year projected NOI and Asset Value is Purchase Price

 

(2)

2010 Acquisition: First full year projected NOI

 

46