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Exhibit 25.1
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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)[ ]
SUNTRUST BANK
(Exact name of trustee as specified in its charter)
GEORGIA 58-0466330
(Jurisdiction of incorporation or (I.R.S. Employer Identification No.)
organization if not a U.S. national bank)
303 PEACHTREE STREET
SUITE 300
ATLANTA, GEORGIA 30303
(Address of principal executive offices) (Zip code)
B. A. DONALDSON
SUNTRUST BANK
25 PARK PLACE, N.E.
24TH FLOOR
ATLANTA, GEORGIA 30303-2900
(404) 588-7266
(Name, address and telephone number of agent for service)
POST APARTMENT HOMES, L.P.
(Exact name of obligor as specified in its charter)
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GEORGIA 58-2053632
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(State or other jurisdiction of incorporation or organization) (I.R.S. Employee Identification No.)
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4401 NORTHSIDE PARKWAY, SUITE 800
ATLANTA, GEORGIA 30327
(Address of principal executive offices) (Zip Code)
DEBT SECURITIES
(Title of the indenture securities)
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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.
Department of Banking and Finance,
State of Georgia,
Atlanta, Georgia
Federal Reserve Bank of Atlanta
104 Marietta Street, N.W.
Atlanta, Georgia
Federal Deposit Insurance Corporation
Washington, D.C.
(B) WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST POWERS.
Yes.
ITEM 2. AFFILIATIONS WITH THE OBLIGOR.
IF THE OBLIGOR IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE EACH SUCH
AFFILIATION.
The obligor is not an affiliate of the trustee.
No responses are included for Items 3 through 12. Responses to those
Items are not required because, as provided in Item 13, the obligor is not in
default on any securities issued under indentures under which SunTrust Bank is a
trustee.
ITEM 13. DEFAULTS BY THE OBLIGOR.
(A) STATE WHETHER THERE IS OR HAS BEEN A DEFAULT WITH RESPECT TO
THE SECURITIES UNDER THIS INDENTURE. EXPLAIN THE NATURE OF ANY
SUCH DEFAULT.
There is not and has not been any such default.
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(B) IF THE TRUSTEE IS A TRUSTEE UNDER ANOTHER INDENTURE UNDER
WHICH ANY OTHER SECURITIES, OR CERTIFICATES OF INTEREST OR
PARTICIPATION IN ANY OTHER SECURITIES, OF THE OBLIGOR ARE
OUTSTANDING, OR IS TRUSTEE FOR MORE THAN ONE OUTSTANDING
SERIES OF SECURITIES UNDER THE INDENTURE, STATE WHETHER THERE
HAS BEEN A DEFAULT UNDER ANY SUCH INDENTURE OR SERIES,
IDENTIFY THE INDENTURE OR SERIES AFFECTED, AND EXPLAIN THE
NATURE OF ANY SUCH DEFAULT.
There has not been any such default.
No responses are included for Items 14 and 15. Responses to those Items
are not required because, as provided in Item 13, the obligor is not in default
on any securities issued under indentures under which SunTrust Bank is a
trustee.
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ITEM 16. LIST OF EXHIBITS.
The additional exhibits listed below are filed herewith. Exhibits, if
any, identified in parentheses are on file with the Commission and are
incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under
the Trust Indenture Act of 1939 and Rule 24 of the Commission's Rules of
Practice.
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<CAPTION>
Exhibit
Number
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(1) A copy of the Articles of Amendment and Restated Articles of
Association of the trustee as now in effect. (Exhibit 1 to
Form T-1, Registration No. 333-25463 and Certificate of Merger
and Name Change Exhibit 1 to Form T-1, Registration No.
333-32106).
(2) A copy of the certificate of authority of the trustee to
commence business. (Exhibit 1 to Form T-1, Registration No.
333-25463).
(3) A copy of the authorization of the trustee to exercise
corporate trust powers. (Exhibit 1 to Form T-1, Registration
No. 333-25463).
(4) A copy of the existing by-laws of the trustee. (Exhibit 4 to
Form T-1, Registration No. 333-25463)
(5) Not applicable.
(6) The consent of the trustee required by Section 321(b) of the
Trust Indenture Act of 1939, as amended.
(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 as of the close of business
on June 30, 2000.
(8) Not applicable.
(9) Not applicable.
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NOTE
In answering any item in this Statement of Eligibility which
relates to matters peculiarly within the knowledge of the obligor or any
underwriter for the obligor, the trustee has relied upon information
furnished to it by the obligor or the underwriters and the trustee disclaims
responsibility for the accuracy and completeness of such information.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
trustee, SunTrust Bank, a corporation organized and existing under the laws of
the State of Georgia, has duly caused this statement of eligibility to be signed
on its behalf by the undersigned, thereunto duly authorized, all in the City of
Atlanta, and State of Georgia, on the 18th day of September, 2000.
SUNTRUST BANK
By:/s/ B. A. Donaldson
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B. A. Donaldson
Group Vice President
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<CAPTION>
Exhibit
Number Description
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(1) -- A copy of the Articles of Amendment and Restated Articles of Association of the trustee as now
in effect. (Exhibit 1 to Form T-1, Registration No. 333-25463 and Certificate of Merger and
Name Change Exhibit 1 to Form T-1, Registration No. 333-32106).
(2) -- A copy of the certificate of authority of the trustee to commence business. (Exhibit 1 to Form
T-1, Registration No. 333-25463).
(3) -- A copy of the authorization of the trustee to exercise corporate trust powers. (Exhibit 1 to
Form T-1, Registration No. 333-25463).
(4) -- A copy of the existing by-laws of the trustee. (Exhibit 4 to Form T-1, Registration No.
333-25463)
(5) -- Not applicable.
(6) -- The consent of the trustee required by Section 321(b) of the Trust Indenture Act of 1939, as
amended.
(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 as of the close of business on June 30,
2000.
(8) -- Not applicable.
(9) -- Not applicable.
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EXHIBIT 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture
Act of 1939, as amended, in connection with the proposed issue of Senior Debt
Securities, we hereby consent that reports of examination by Federal, State,
Territorial or District authorities may be furnished by such authorities to the
Securities and Exchange Commission upon request therefor.
SUNTRUST BANK
By:/s/ B. A. Donaldson
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B. A. Donaldson
Group Vice President
Dated: September 18th, 2000
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EXHIBIT 7
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SUNTRUST BANK Call Date: 06/30/2000 State #: 130330 FFIEC 031
P.O. BOX 4418 CENTER 632 Vendor ID: D Cert #: 00867 RC-1
ATLANTA, GA 30302 Transit #: 61000104
11
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CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR JUNE 30, 2000
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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<CAPTION>
C400 <-
Dollar Amounts in Thousands
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ASSETS
1. Cash and balances due from depository institutions (from Schedule RC-A): RCFD
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a. Noninterest-bearing balances and currency and coin(1).......................................... 0081 3,558,361 1.a
b. Interest-bearing balances(2)................................................................... 0071 17,246 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 15,075,833 2.b
3. Federal funds sold and securities purchased under agreements to resell............................. 1350 2,546,167 3
4. Loans and lease financing receivables: RCFD
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a. Loans and leases, net of unearned income (from Schedule RC-C)............. 2122 72,659,542 4.a
b. LESS: Allowance for loan and lease losses................................. 3123 855,220 4.b
c. LESS: Allocated transfer risk reserve..................................... 3128 0 4.c
d. Loans and leases, net of unearned income, RCFD
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allowance, and reserve (item 4.a minus 4.b and 4.c)........................................... 2125 71,804,322 4.d
5. Trading assets (from Schedule RC-D)................................................................ 3545 143,815 5.
6. Premises and fixed assets (including capitalized leases)........................................... 2145 1,281,989 6.
7. Other real estate owned (from Schedule RC-M)....................................................... 2150 35,989 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 168,835 9.
10. Intangible assets (from Schedule RC-M)............................................................. 2143 581,254 10.
11. Other assets (from Schedule RC-F).................................................................. 2160 1,772,511 11.
12. Total assets (sum of items 1 through 11)........................................................... 2170 96,986,322 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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SUNTRUST BANK Call Date: 06/30/2000 State #: 130330 FFIEC 031
P.O. BOX 4418 CENTER 632 Vendor ID: D Cert #: 00867 RC-2
ATLANTA, GA 30302 Transit #: 61000104
12
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SCHEDULE RC - CONTINUED
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Dollar Amounts in Thousands
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LIABILITIES
13. Deposits:
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E, RCON
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part I).................................................................... RCON 2200 57,796,821 13.a
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(1) Noninterest-bearing(1)................................................. 6631 11,446,978 13.a.1
(2) Interest-bearing....................................................... 6636 46,349,843 13.a.2
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs (from RCFN
----
Schedule RC-E, part II).................................................... RCFN 2200 11,528,832 13.b
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(1) Noninterest-bearing.................................................... 6631 0 13.b1
(2) Interest-bearing....................................................... 6636 11,528,832 RCFD 13.b2
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14. Federal funds purchased and securities sold under agreements to repurchase........................ 2800 11,129,477 14
RCON
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15. a. Demand notes issued to the U.S. Treasury....................................................... 2840 1 15.a
RCFD
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b. Trading liabilities (from Schedule RC-D)....................................................... 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 1,277,333 16.a
b. With a remaining maturity of more than one year through three years............................ A547 2,509,678 16.b
c. With a remaining maturity of more than three years............................................. A548 1,412,939 16.c
17. Not applicable
18. Bank's liability on acceptances executed and outstanding.......................................... 2920 168,835 18
19. Subordinated notes and debentures(2).............................................................. 3200 1,068,000 19
20. Other liabilities (from Schedule RC-G)............................................................ 2930 2,025,261 20
21. Total liabilities (sum of items 13 through 20).................................................... 2948 88,917,177 21
22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus..................................................... 3838 0 23
24. Common stock...................................................................................... 3230 21,600 24
25. Surplus (exclude all surplus related to preferred stock).......................................... 3839 2,545,484 25
26. a. Undivided profits and capital reserves......................................................... 3632 4,811,305 26.a
b. Net unrealized holding gains (losses) on available-for-sale securities......................... 8434 690,756 26.b
c. Accumulated net gains (losses) on cash flow hedges............................................. 4336 0 26.c
27. Cumulative foreign currency translation adjustments............................................... 3284 0 27
28. Total equity capital (sum of items 23 through 27)................................................. 3210 8,069,145 28
29. Total liabilities and equity capital (sum of items 21 and 28)..................................... 3300 96,986,322 29
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MEMORANDUM
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION.
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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 RCFD Number
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auditors as of any date during 1999............................................................. 6724 N/A M. 1
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1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified
public accounting firm which submits a report on the consolidated holding
company (but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
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.
