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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
Check if an Application to Determine Eligibility of
a Trustee Pursuant to Section 305(b)(2)
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U.S. BANK TRUST NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)
111 EAST WACKER DRIVE, SUITE 3000
CHICAGO, ILLINOIS 60601 36-4046888
(Address of principal executive offices) (Zip Code) I.R.S. Employer
Identification No.
H.H. Hall, Jr.
111 East Wacker Drive, Suite 3000
Chicago, Illinois 60601
Telephone (312) 228-9448
(Name, address and telephone number of agent for service)
BRADLEY OPERATING LIMITED PARTNERSHIP
(Exact name of obligor as specified in its charter)
DELAWARE 04-3306041
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
40 SKOKIE BOULEVARD
SUITE 600
NORTHBROOK, ILLINOIS 60062-1626
(Address of Principal (Zip Code)
Executive Offices)
DEBT SECURITIES
(Title of the Indenture Securities)
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FORM T-1
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ITEM 1. GENERAL INFORMATION. Furnish the following information as to the
Trustee.
a) Name and address of each examining or supervising authority to
which it is subject.
Comptroller of the Currency
Washington, D.C.
b) Whether it is authorized to exercise corporate trust powers.
Yes
ITEM 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the
Trustee, describe each such affiliation.
None
ITEMS 3-15 There is not nor has there been a default with respect to the
securities under this Indenture. The Trustee is a Trustee under
other Indentures under which securities issued by the obligor are
outstanding. There is not and there has not been a default with
respect to the securities outstanding under such other Indentures.
ITEM 16. LIST OF EXHIBITS: List below all exhibits filed as a part of this
statement of eligibility and qualification.
1. A copy of the Articles of Association of the Trustee now in
effect, incorporated herein by reference to Exhibit 1 of
Form T-1, Registration No. 333-18235.
2. A copy of the certificate of authority of the Trustee to
commence business, incorporated herein by reference to Exhibit
2 of Form T-1, Registration No. 333-18235.
3. A copy of the certificate of authority of the Trustee to
exercise corporate trust powers, incorporated herein by
reference to Exhibit 3 of Form T-1, Registration No. 333-18235.
4. A copy of the existing bylaws of the Trustee, as now in effect,
incorporated herein by reference to Exhibit 4 of Form T-1,
Registration No. 333-18235.
5. Not applicable.
6. The consent of the Trustee required by Section 321(b) of the
Trust Indenture Act of 1939, incorporated herein by reference
to Exhibit 6 of Form T-1, Registration No. 333-18235.
7. A copy of the latest report of condition of the Trustee
published pursuant to law or the requirements of its
supervising or examining authority, filed herewith.
8. Not applicable.
9. Not applicable.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
Trustee, U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association
organized and existing under the laws of the United States of America, has duly
caused this statement of eligibility and qualification to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of
Chicago, State of Illinois on the 25th day of August, 1998.
U.S. BANK TRUST NATIONAL ASSOCIATION
By: /s/ H. H. Hall, Jr.
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H. H. Hall, Jr.
Vice President and Assistant Secretary
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Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for June 30, 1998
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
Schedule RC - Balance Sheet
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Schedule RC - Balance Sheet
Dollar Amounts in Thousands
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ASSETS
<S> <C> <C> <C>
1. Cash and balances due from depository institutions (from Schedule RC-A): RCON
----
a. Noninterest-bearing balances and currency and coin (1)................ 0081 11,262 1.a
b. Interest-bearing balances (2)......................................... 0071 45,900 1.b
2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A)............ 1754 0 2.a
b. Available-for-sale securities (from Schedule RC-B, column D).......... 1773 3,711 2.b
3. Federal funds sold and securities purchased under agreements to resell..... 1350 0 3.
4. Loans and lease financing receivables:
RCON
a. Loans and leases, net of unearned income (from Schedule RC-C)......... 2122 0 4.a
b. LESS: Allowance for loan and lease losses............................. 3123 0 4.b
c. LESS: Allocated transfer risk reserve................................. 3128 0 4.c
d. Loans and leases, net of unearned income, allowance, and reserve
(item 4.a minus 4.b and 4.c).......................................... 2125 0 4.d
5. Trading assets............................................................. 3545 0 5.
6. Premises and fixed assets (including capitalized leases)................... 2145 110 6.
7. Other real estate owned (from Schedule RC-M)............................... 2150 0 7.
8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M)....................................................... 2130 0 8.
9. Customers' liability to this bank on acceptances outstanding............... 2155 0 9.
10. Intangible assets (from Schedule RC-M)..................................... 2143 46,321 10.
11. Other assets (from Schedule RC-F).......................................... 2160 2,843 11.
12. Total assets (sum of items 1 through 11)................................... 2170 110,147 12.
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(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
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<TABLE>
<CAPTION>
Schedule RC - Balance Sheet
Dollar Amounts in Thousands
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LIABILITIES
<S> <C> <C> <C>
13. Deposits:
RCON
a. In domestic offices (sum of totals of columns A ----
and C from Schedule RC-E)............................................ 2200 0 13.a
RCON
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(1) Noninterest-bearing (1).......................................... 6631 0 13.a.1
(2) Interest-bearing................................................. 6636 0 13.a.2
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs........
(1) Noninterest-bearing..............................................
(2) Interest-bearing.................................................
14. Federal funds purchased and securities sold under
agreements to repurchase............................................. 2800 0 14.
15. a. Demand notes issued to the U.S. Treasury............................. 2840 0 15.a
b. Trading Liabilities.................................................. 3548 0 15.b
16. Other borrowed money (includes mortgage indebtedness and obligations under
capitalized leases):
a. With a remaining maturity of one year or less........................ 2332 0 16.a
b. With a remaining maturity of more than one year through three
years................................................................ A547 0 16.b
c. With a remaining maturity of more than three years................... A548 0 16.c
17. Not applicable
18. Bank's liability on acceptances executed and outstanding................... 2920 0 18.
19. Subordinated notes and debentures (2)...................................... 3200 0 19.
20. Other liabilities (from Schedule RC-G)..................................... 2930 2,793 20.
21. Total liabilities (sum of item 13 through 20).............................. 2948 2,793 21.
22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus.............................. 3838 0 23.
24. Common stock............................................................... 3230 1,000 24.
25. Surplus (exclude all surplus related to preferred stock)................... 3839 106,712 25.
26. a. Undivided profits and capital reserves................................ 3632 (358) 26.a
b. Net unrealized holding gains (losses) on available-for-sale
securities............................................................ 8434 0 26.b
27. Cumulative foreign currency translation adjustments........................
28. Total equity capital (sum of items 23 through 27).......................... 3210 107,354 28.
29. Total liabilities and equity capital (sum of items 21 and 28).............. 3300 110,147 29.
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Memorandum
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To be reported only with the March Report of Condition. 1. Indicate in the box
at the right the number of the statement below that best describes the most
comprehensive level of auditing work performed for the bank by independent
external auditors as of any date during 1997 6724 N/A M.1
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1 = Independent audit of the bank conducted in accordance 4 = Directors' examination of the bank performed by other
with generally accepted auditing standards by a certified, external auditors (may be required by state chartering
public accounting firm which submits a report on the bank authority)
2 = Independent audit of the bank's parent holding company 5 = Review of the bank's financial statements by external
conducted in accordance with generally accepted auditing auditors
standards by a certified public accounting firm which
submits a report on the consolidated holding company (but 6 = Compilation of the bank's financial statements by
not on the bank separately) external auditors
3 = Directors' examination of the bank conducted in 7 = Other audit procedures (excluding tax preparation
accordance with generally accepted auditing standards by a work)
certified public accounting firm (may be required by state
chartering authority) 8 = No external audit work
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(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited life preferred stock and related surplus.
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Schedule RC-A - Cash and Balances Due From Depository Institutions
Exclude assets held for trading.
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<CAPTION>
Schedule RC - Balance Sheet
Dollar Amounts in Thousands
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LIABILITIES
<S> <C> <C> <C>
1. Cash items in process of collection, unposted debits, and
currency and coin: RCON
----
a. Cash items in process of collection and unposted debits............... 0020 96 1.a
b. Currency and coin..................................................... 0080 0 1.b
2. Balances due from depository institutions in the U.S.:
a. U.S. branches and agencies of foreign banks........................... 0083 0 2.a
b. Other commercial banks in the U.S. and other depository
institutions in the U.S. ............................................. 0085 57,066 2.b
3. Balances due from banks in foreign countries and foreign central banks:
a. Foreign branches of other U.S. banks.................................. 0073 0 3.a
b. Other banks in foreign countries and foreign central banks............ 0074 0 3.b
4. Balances due from Federal Reserve Banks.................................... 0090 0 4.
5. Total (sum of items 1 through 4) (must equal Schedule RC, sum
of items 1.a and l.b)..................................................... 0010 57,162 5.
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Memorandum
Dollar Amounts in Thousands
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<S> <C> <C> <C>
RCON
1. Noninterest-bearing balances due from commercial banks in the U.S. ----
(included in items 2.a and 2.b above).................................... 0050 11,166 M.1
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