XXXXX FARGO BANK
XXXXXXXX X. XXXXXXX 000 Xxxxxxxxxx Xxxxxx
Vice President Sixth Floor
Rate Risk Management San Francisco,, CA 94163
Xxxxx Xxxxxxxxx
Xxxx Holdings Limited Partnership
0000 Xxxxxxxxxxx Xxxxxx
Xxxxx Xxxxx, XX 00000 December 9,1996
Via Fax: (000) 000-0000
Dear Xx. Xxxxxxxxx,
This letter agreement is to confirm the assignment of the interest Rate Cap
transaction described below from Xxxx Holdings Limited Partnership ("Xxxx
Holdings") to Xxxxx Fargo Bank National Association ("Xxxxx Fargo"). In
consideration of the assignment, Xxxxx Fargo shall pay Xxxx Holdings $340,600 on
December 11, 1996.
Type: Interest Rate Cap
Effective Date: November 19, 1996
Termination Date: August 19, 1998
Notional Amount: $37,000,000
Cap Rate: 5.25%
Floating Rate Option: USD-LIBOR-BBA
Designated Maturity: 3 months
Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing this letter and returning it via telecopier to (415)
956-9581.
Yours sincerely,
XXXXX FARGO BANK, NATIONAL ASSOCIATION
By: /s/ Xxxxxxxx X. Xxxxxxx
Name: Xxxxxxxx X. Xxxxxxx
Title: Vice President
Acknowledged and Agreed:
XXXX HOLDINGS LIMITED PARTNERSHIP
BY: ITS GENERAL PARTNER
By: /s/ Xxxxx X. Xxxxxxxxx
Name: Xxxxx X. Xxxxxxxxx
Title: Vice President and CFO
