Note Administration Fee Agreement Sample Contracts

RECITALS
Note Administration Fee Agreement • February 14th, 2002 • Saul B F Real Estate Investment Trust • Savings institution, federally chartered • Maryland
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AMENDED AND RESTATED NOTE ADMINISTRATION FEE AGREEMENT
Note Administration Fee Agreement • September 30th, 2005 • Saul B F Real Estate Investment Trust • Savings institution, federally chartered • Maryland

This Amended and Restated Note Administration Fee Agreement (this “Agreement”), dated as of October 1, 2005, is by and between B.F. SAUL COMPANY (the “Advisor”), B.F. SAUL REAL ESTATE INVESTMENT TRUST (the “Trust”) and, solely with respect to Section 1(a) hereof, B.F. SAUL ADVISORY COMPANY, L.L.C. (“Saul Advisory”).

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