FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

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The principal schedules of depreciation used are as follows: − Amortisable Lease Renewals 20 years − Buildings 20 to 25 years − Plant Assets 10 years − Fixtures 20 years Contingent Liability The provision for empty units is currently u266,450. Deferred Charges The following deferred charges include the acquisition cost of the following assets: − − − Property Tax Notary fees and compensation Tax Publicity Foncière The amortisation schedule retained in accounting is 5 years. The allotment is calculated, au prorate temporis, from the acquisition date of the corresponding assets. 161
FIXED ASSETS Corporate name: PARIS PROVINCES PROPERTIES Gross value at the beginning of Increases financial year Reevaluation Purchases 1 2 3 FIXED ASSETS INTANGIBLE Initial investment cost, research and development expenses TOTAL (I) Other intangible assets TOTAL (II) 3,827,569 2,543,122 TANGIBLE Land 25,660,895 1,937,830 Buildings on land owned by the company 92,305,158 760,854 on land owned by a third party General installations, fixtures and fittings 1,217,883 733,526 Technical installations, indust. machinery & tooling Other tangible assets General installations, fixtures and fittings Transportation equipment Office equipment, computers & furniture Returnable packaging and miscellaneous In-progress tangible assets 331,164 1,334,028 Advances and deposits TOTAL (III) 119,515,100 4,766,238 FINANCIAL Consolidated shares Other investments 2,374,153 Other capitalised securities 9,091 Loans & other financial assets 493,378 TOTAL (IV) 2,876,622 OVERALL TOTAL (I+II+III+IV) 126,219,291 7,309,360 FIXED ASSETS INTANGIBLE Initial investment cost, research and development expenses TOTAL I Decreases Reeval. By transfer from account to account By disposal to third parties, putting out of order Gross value of assets end of financial year 1 2 3 4 Other intangible assets TOTAL II 6,370,691 TANGIBLE Land 27,598,725 Buildings on land owned by the company 487,837 92,578,175 on land owned by a third party general installations, fixtures and fittings 1,951,409 Technical installations, indust. machinery & tooling Other tangible assets general installations, fixtures and fittings Transportation equipment Office equipment, computers & furniture Returnable packaging and miscellaneous In-progress tangible assets 667,833 997,359 Advances TOTAL III 667,833 487,837 123,125,668 FINANCIAL Consolidated shares Other investments 2,374,153 Other capitalised securities 9,091 Loans & other financial assets 36,952 456,426 TOTAL IV 36,952 9,091 2,830,579 OVERALL TOTAL (I+II+III+IV) 704,786 496,927 132,326,938 Original value of assets end of financial year 162
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FCC Proudreed Properties 2005 a Fre
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(having taken all reasonable care t
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CONTENTS SECTION PAGE PRINCIPAL CHA
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PRINCIPAL CHARACTERISTICS OF THE CO
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LTV Ratio: Security: Insurance: Mor
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DIAGRAMMATIC OVERVIEW OF PARTIES AN
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is one Business Day following such
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SARL Enoville is a French limited l
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Hedging Agreements. For a descripti
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For further details as to the risks
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2. Tenant Concentration (Top 10 Ten
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6. Sectoral Weightings: (Industrial
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Paris Properties 1. Summary descrip
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Property Name Property address Type
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3. Lease type and length of lease S
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7. Details of the Top Ten Propertie
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Property Number 7 Property Name Cha
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PRINCIPAL FEATURES OF THE NOTES Bel
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‘‘AA’’ by Fitch and a ratin
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Interest Rate Risks Interest on the
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after among other things, payments
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same criteria as apply to the Secur
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Although any successor manager of a
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within the Property Portfolio relat
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this judicial procedure. The judgme
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Risks relating to Planning - Right
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(a) to obtain an order for, or paym
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Secured Properties The Secured Prop
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described under ‘‘Obligor Secur
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(together with accrued interest). F
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date on which sale proceeds are rec
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Facility Fees Pursuant to the terms
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• details of the Property Manager
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taking into account any rent guaran
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(d) any Obligor or the Borrowers’
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(or u100,000 for Proudreed France S
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Account and the related Disposal Ex
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The ‘‘Due Diligence Criteria’
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(e) a deposit (by way of gage-espè
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Pursuant to the terms of the Proper
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negatively affect the credit qualit
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provided however that no such termi
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RESOURCES AVAILABLE TO THE BORROWER
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Reserve. Furthermore, in the event
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Obligor Post-Enforcement Priorities
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Account following the occurrence of
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(e) fifth, in or towards satisfacti
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On delivery of a Note Enforcement N
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VALUATION REPORTS 22 septembre 2005
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We attach schedule of values, divid
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15 June 2005 Proudreed France Sarl
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Finally, we would ask that neither
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We attach schedule of values, divid
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15 June 2005 Proudreed France Sarl
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Finally, we would ask that neither
Page 111 and 112: We attach schedule of values, divid
Page 113 and 114: 15 June 2005 Proudreed France Sarl
Page 115 and 116: This valuation is provided for the
Page 117 and 118: We confirm that we are able to comp
Page 123 and 124: We confirm that we are able to comp
Page 129 and 130: For recently completed developments
Page 131 and 132: Schedule of Values - Appendix 1 130
Page 133 and 134: Appendix 2 - Schedule of Values 132
Page 135 and 136: Appendix 4 Net Market Fund Ref Prop
Page 137 and 138: We are in the opinion that the valu
Page 139 and 140: Assets of the Issuer Receivables an
Page 141 and 142: The Custodian will receive a fee, p
Page 143 and 144: et seq. of the French Monetary and
Page 145 and 146: THE BORROWERS The Paris Properties
Page 147 and 148: • borrowing or more generally rai
Page 149 and 150: Loan Capital: Commercial Mortgage L
Page 151 and 152: − and generally all transactions
Page 153 and 154: 7 rue d’Amiens S.C.I. Introductio
Page 155 and 156: • granting any security interest
Page 157 and 158: 1 - BALANCE SHEET - ASSETS Corporat
Page 159 and 160: 3 - INCOME STATEMENT Corporate name
Page 161: NOTES TO THE ACCOUNTS Before repart
Page 165 and 166: RESERVES IN THE BALANCE SHEET Corpo
Page 167 and 168: TABLE OF ACCRUED ASSETS AND ACCRUED
Page 169 and 170: LEASING Corporate name: PARIS PROVI
Page 171 and 172: AFFILIATED COMPANIES AND INVESTMENT
Page 173 and 174: P.P.M.P.P. Financial Statements Yea
Page 175 and 176: 2 - BALANCE SHEET - LIABILITIES AND
Page 177 and 178: 3 - INCOME STATEMENT (CONTINUED) Co
Page 179 and 180: Corporate name: P.P.M.P.P. FIXED AS
Page 181 and 182: RESERVES IN THE BALANCE SHEET Corpo
Page 183 and 184: TABLE OF ACCRUED ASSETS AND ACCRUED
Page 185 and 186: SECURITY INTEREST GUARANTEED DEBTS
Page 187 and 188: The Paris Properties Parent Obligor
Page 189 and 190: which it is or will be a party (inc
Page 191 and 192: Principal Activities The principal
Page 193 and 194: PROUDREED FRANCE Financial Statemen
Page 195 and 196: 2 - BALANCE SHEET - LIABILITIES AND
Page 197 and 198: 3 - INCOME STATEMENT (CONTINUED) Co
Page 199 and 200: The principal schedules of deprecia
Page 201 and 202: DEPRECIATION Corporate name: PROUDR
Page 203 and 204: TABLE OF RECEIVABLES AND LIABILITIE
Page 205 and 206: Corporate Name: PROUDREED France DE
Page 207 and 208: Corporate name: PROUDREED France FI
Page 209 and 210: AFFILIATED COMPANIES AND INVESTMENT
Page 211 and 212: THE HEDGING PROVIDERS HSBC Bank plc
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TERMS AND CONDITIONS OF THE NOTES T
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above, on the basis of the offered
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(k) the Master Definitions and Fram
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and Paris Properties SARL and, in r
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(vi) ‘‘repay’’, ‘‘redee
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(ii) if there are no Class A Notes
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Priority of Payments Following Enfo
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Determination of Rates of Interest
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(although the Issuer will not have
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Currency of Payment (b) Payments in
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(f) (i) (ii) agreed that until all
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Management Company and the relevant
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Notices by Delivery to Euroclear, E
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TAXATION French Taxation Pursuant t
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which it sells Notes during the dis
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(c) the excerpts of the financial r
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Borrowers Account Bank means (i) in
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(b) (B) not confer a direct or indi
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FCC Servicer means each entity appo
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La Défense, France respectively (o
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Interest Period means each period f
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(i) (j) any dividend payment by tha
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Mortgage means (i) the mortgages (h
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(iv) any amounts payable by the Iss
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Loan Agreement during such Forward-
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Regulation S means Regulation S und
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HSBC Bank plc 8 Canada Square Londo
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