AMENDMENT TO THE DISTRIBUTION AND
ADMINISTRATIVE SERVICES AGREEMENT
This Amendment is to the Distribution and Administrative Services
Agreement, dated September 29, 1995, as amended from time to time (the
"Agreement"), by and between the Teachers Insurance and Annuity Association of
America ("TIAA"), on its own behalf and with respect to the TIAA Real Estate
Account ("Real Estate Account"), and TIAA-CREF Individual & Institutional
Services, Inc. ("Services"). TIAA and Services mutually agree that upon
execution of this Amendment, the Agreement shall be amended as set forth below:
Sections (c) and (d) of paragraph 7 of the Agreement are amended to
read as follows:
(c) For the services rendered and expenses incurred in connection
with distribution of the Contracts as provided herein, the amount
currently payable from the net assets of the Real Estate Account each
Valuation Day for each Calendar Day of the Valuation Period ending on
that Valuation Day will be 0.0000822% (corresponding to an annual rate
of 0.03% of average daily net assets).
(d) For the services rendered and expenses incurred in connection
with administration as provided in Section 5 and otherwise herein, the
amount currently payable from the net assets of each Account each
Valuation Day for each Calendar Day of the Valuation Period ending on
that Valuation Day will be 0.0005068% (corresponding to an annual rate
of 0.185% of average daily net assets).
For purposes of this Agreement, "Valuation Day," "Calendar Day," and
"Valuation Period" shall each be defined as specified in the TIAA Real Estate
Account's current Registration Statement.
IN WITNESS WHEREOF, TIAA and Services have caused this Amendment to
the Agreement to be executed in their names and on their behalf and under their
trust and corporate seals as of this 17th day of April, 2000 by and through
their duly authorized officers effective as provided above.
TEACHERS INSURANCE AND ANNUITY
ATTEST: ASSOCIATION OF AMERICA
By:
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Title:
TIAA-CREF INDIVIDUAL &
ATTEST: INSTITUTIONAL SERVICES, INC.
By:
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Title: