Property Name Property address Type Region Passing Rent (w) ERV (w) Market Value (w) Sq. meters Occupancy St Pierre en Faucigny (74) Lotissement Les Jourdies Evry Bois Guillaume 8/10 rue du Bois Sauvage Emerainville ASE 4, 61 av de l’Europe. VE de la Malnoue Emerainville VE6, 59 av de l’Europe Emerainville VE 5, 59 bis av de l’Europe Emerainville ASE 1, Malnoue 65 bis av de l’Europe Industrial Rhône-Alpes 41,486 41,486 350,000 10,533 100% Warehouse/ Distribution Office Office Office Office South West Ile-de-France East Ile-de-France East Ile-de-France East Ile-de-France East Ile-de-France Ulis Hightec 6 9 av du Canada Office South West Ile-de-France Goussainville Vaires sur Marne (construction) 5, rue Ambroise Croizat ZI de la trentaine Chemin du corps de garde Warehouse/ Distribution Retail North West Ile-de-France East Ile-de-France Emerainville Villa 41, Bd l’Europe Office East Ile-de-France Marly la Ville ZI de Moimont Warehouse/ Distribution North West Ile-de-France 35,750 40,625 410,000 325 100% 31,856 31,050 290,000 325 100% 29,279 26,500 270,000 310 100% 28,723 26,678 270,000 314 100% 27,300 48,450 250,000 325 100% 19,544 187,125 1,500,000 2,495 12% 0 311,310 2,350,000 7,000 0% 0 0 2,475,000 14,200 100% 0 27,625 370,000 570 0% 0 570,000 3,640,000 8,950 0% Total Paris <strong>Properties</strong> (Total Occupancy rate is based on weighted average) 40,000,701 40,587,475 418,395,000 833,519 92% 2. Tenant Concentration (Top 10 Tenants) Tenant Name Passing Rent (w) % of total Sq. meters % of total Property/<strong>Properties</strong> occupied Rating (S&P/ Fitch) ND LOGISTIC 6,381,521 16.0% 181,492 21.8% Several <strong>Properties</strong> NR/NR LOGIDIS 3,280,835 8.2% 86,240 10.3% Several <strong>Properties</strong> A+/A+ GOODYEAR 1,241,909 3.1% 5,355 0.6% Rueil Malmaison B+/B Centrale Financière 1,200,895 3.0% 21,513 2.6% Mer BBB+/BBB+ VISTEON Systemes 1,093,723 2.7% 16,591 2.0% Chatillon-sur-Seine NR/NR MOTOROLA 934,231 2.3% 6,220 0.7% Saint-Aubin BBB+/BBB+ Ricoh France 904,134 2.3% 5,782 0.7% Clamart NR/NR NOVARCHIVE 727,959 1.8% 10,864 1.3% Rosny-sur-Seine NR/NR NOCIBE 727,035 1.8% 12,023 1.4% Villeneuve d’Ascq NR/NR BRAND 687,592 1.7% 18,194 2.2% Several <strong>Properties</strong> NR/NR Sub Total Top 10 Tenants 17,179,833 TOTAL Paris <strong>Properties</strong> 40,000,701 3. Lease type and length of lease Summary of Lease Types Lease Type Passing Rent (w) % of Total Precarious 84,110 0.21% Short Term 0 0.00% Commercial 18,588,115 46.47% Long Term 20,754,895 51.89% Other 573,579 1.43% Total Paris <strong>Properties</strong> 40,000,701 100% 27
3. Lease type and length of lease Summary of Expiry of Occupational Leases Year of expiration Number of Leases Passing Rent (w) % of total Cumulative % of Passing Rent <strong>2005</strong> 21 1,534,853 3.8% 3.8% 2006 12 2,200,379 5.5% 9.3% 2007 13 1,473,590 3.7% 13.0% 2008 15 933,937 2.3% 15.4% 2009 22 3,878,432 9.7% 25.1% 2010 20 4,389,478 11.0% 36.0% 2011 38 5,136,725 12.8% 48.9% 2012 33 5,844,748 14.6% 63.5% 2013 71 9,388,676 23.5% 87.0% 2014 45 3,451,466 8.6% 95.6% 2015 4 856,886 2.1% 97.7% 2016 2 727,035 1.8% 99.5% 2017 2 145,601 0.4% 99.9% 2018 1 5,993 0.0% 99.9% 2019 0 0 0.0% 99.9% 2020 1 32,900 0.1% 100.0% Total Paris <strong>Properties</strong> 300 40,000,701 100% Summary of Expiry of Occupational Leases (assuming exercise of first break option) Year of break option Number of Leases Passing Rent (w) % of total Cumulative % of Passing Rent <strong>2005</strong> 21 1,534,853 3.8% 3.8% 2006 54 6,960,744 17.4% 21.2% 2007 81 9,673,067 24.2% 45.4% 2008 86 7,116,411 17.8% 63.2% 2009 17 4,647,109 11.6% 74.8% 2010 16 4,376,557 10.9% 85.8% 2011 9 1,559,875 3.9% 89.7% 2012 3 1,277,113 3.2% 92.9% 2013 8 2,618,386 6.5% 99.4% 2014 3 64,413 0.2% 99.6% 2015 0 0 0.0% 99.6% 2016 0 0 0.0% 99.6% 2017 1 139,273 0.3% 99.9% 2018 0 0 0.0% 99.9% 2019 0 0 0.0% 99.9% 2020 1 32,900 0.1% 100.0% Total Paris <strong>Properties</strong> 300 40,000,701 100% 28
- Page 1 and 2: FCC Proudreed Properties 2005 a Fre
- Page 3 and 4: (having taken all reasonable care t
- Page 5 and 6: CONTENTS SECTION PAGE PRINCIPAL CHA
- Page 7 and 8: PRINCIPAL CHARACTERISTICS OF THE CO
- Page 9 and 10: LTV Ratio: Security: Insurance: Mor
- Page 11 and 12: DIAGRAMMATIC OVERVIEW OF PARTIES AN
- Page 13 and 14: is one Business Day following such
- Page 15 and 16: SARL Enoville is a French limited l
- Page 17 and 18: Hedging Agreements. For a descripti
- Page 19 and 20: For further details as to the risks
- Page 21 and 22: 2. Tenant Concentration (Top 10 Ten
- Page 23 and 24: 6. Sectoral Weightings: (Industrial
- Page 25 and 26: Paris Properties 1. Summary descrip
- Page 27: Property Name Property address Type
- Page 31 and 32: 7. Details of the Top Ten Propertie
- Page 33 and 34: Property Number 7 Property Name Cha
- Page 35 and 36: PRINCIPAL FEATURES OF THE NOTES Bel
- Page 37 and 38: ‘‘AA’’ by Fitch and a ratin
- Page 39 and 40: Interest Rate Risks Interest on the
- Page 41 and 42: after among other things, payments
- Page 43 and 44: same criteria as apply to the Secur
- Page 45 and 46: Although any successor manager of a
- Page 47 and 48: within the Property Portfolio relat
- Page 49 and 50: this judicial procedure. The judgme
- Page 51 and 52: Risks relating to Planning - Right
- Page 53 and 54: (a) to obtain an order for, or paym
- Page 55 and 56: Secured Properties The Secured Prop
- Page 57 and 58: described under ‘‘Obligor Secur
- Page 59 and 60: (together with accrued interest). F
- Page 61 and 62: date on which sale proceeds are rec
- Page 63 and 64: Facility Fees Pursuant to the terms
- Page 65 and 66: • details of the Property Manager
- Page 67 and 68: taking into account any rent guaran
- Page 69 and 70: (d) any Obligor or the Borrowers’
- Page 71 and 72: (or u100,000 for Proudreed France S
- Page 73 and 74: Account and the related Disposal Ex
- Page 75 and 76: The ‘‘Due Diligence Criteria’
- Page 77 and 78: (e) a deposit (by way of gage-espè
- Page 79 and 80:
Pursuant to the terms of the Proper
- Page 81 and 82:
negatively affect the credit qualit
- Page 83 and 84:
provided however that no such termi
- Page 85 and 86:
RESOURCES AVAILABLE TO THE BORROWER
- Page 87 and 88:
Reserve. Furthermore, in the event
- Page 89 and 90:
Obligor Post-Enforcement Priorities
- Page 91 and 92:
Account following the occurrence of
- Page 93 and 94:
(e) fifth, in or towards satisfacti
- Page 95 and 96:
On delivery of a Note Enforcement N
- Page 97 and 98:
VALUATION REPORTS 22 septembre 2005
- Page 99 and 100:
We attach schedule of values, divid
- Page 101 and 102:
15 June 2005 Proudreed France Sarl
- Page 103 and 104:
Finally, we would ask that neither
- Page 105 and 106:
We attach schedule of values, divid
- Page 107 and 108:
15 June 2005 Proudreed France Sarl
- Page 109 and 110:
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 119 and 120:
15 June 2005 Proudreed France Sarl
- Page 121 and 122:
This valuation is provided for the
- Page 123 and 124:
We confirm that we are able to comp
- Page 125 and 126:
15 June 2005 Proudreed France Sarl
- Page 127 and 128:
This valuation is provided for the
- 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 and 162:
NOTES TO THE ACCOUNTS Before repart
- Page 163 and 164:
FIXED ASSETS Corporate name: PARIS
- 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
- Page 213 and 214:
TERMS AND CONDITIONS OF THE NOTES T
- Page 215 and 216:
above, on the basis of the offered
- Page 217 and 218:
(k) the Master Definitions and Fram
- Page 219 and 220:
and Paris Properties SARL and, in r
- Page 221 and 222:
(vi) ‘‘repay’’, ‘‘redee
- Page 223 and 224:
(ii) if there are no Class A Notes
- Page 225 and 226:
Priority of Payments Following Enfo
- Page 227 and 228:
Determination of Rates of Interest
- Page 229 and 230:
(although the Issuer will not have
- Page 231 and 232:
Currency of Payment (b) Payments in
- Page 233 and 234:
(f) (i) (ii) agreed that until all
- Page 235 and 236:
Management Company and the relevant
- Page 237 and 238:
Notices by Delivery to Euroclear, E
- Page 239 and 240:
TAXATION French Taxation Pursuant t
- Page 241 and 242:
which it sells Notes during the dis
- Page 243 and 244:
(c) the excerpts of the financial r
- Page 245 and 246:
Borrowers Account Bank means (i) in
- Page 247 and 248:
(b) (B) not confer a direct or indi
- Page 249 and 250:
FCC Servicer means each entity appo
- Page 251 and 252:
La Défense, France respectively (o
- Page 253 and 254:
Interest Period means each period f
- Page 255 and 256:
(i) (j) any dividend payment by tha
- Page 257 and 258:
Mortgage means (i) the mortgages (h
- Page 259 and 260:
(iv) any amounts payable by the Iss
- Page 261 and 262:
Loan Agreement during such Forward-
- Page 263 and 264:
Regulation S means Regulation S und
- Page 265 and 266:
HSBC Bank plc 8 Canada Square Londo