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## Tenant Security Deposits and Other Restricted Cash 

Tenant security deposits and other restricted cash consist of the following (in thousands): 

<img src='content_image/104695.jpg'>

## Secured Debt 

Secured debt as of December 31, 2004, consists of the following (dollars in thousands): 

<img src='content_image/104699.jpg'>

Our secured notes payable generally require monthly payments of principal and interest.The total book value of properties securing debt was $776,342,000 and $369,731,000 at December 31, 2004 and 2003, respectively. At December 31, 2004, our secured notes payable were comprised of $437.2 million and $201.7 million of fixed and variable rate debt, respectively, compared to $297.5 million and $22.5 mil- lion of fixed and variable rate debt, respectively, at December 31, 2003. 

The following is a summary of the scheduled principal payments for our secured debt and the weight- ed average interest rates as of December 31, 2004 (in thousands): 

<img src='content_image/104702.jpg'>

(1) The weighted average interest rate is calculated based on the outstanding debt as of January 1st of each year. 

## Unsecured Line of Credit and Unsecured Term Loan 

In December 2004,we amended our unsecured line of credit to increase our borrowing capacity from $440 million to $500 million. Borrowings under our unsecured line of credit, as amended, bear interest at a float- ing rate based on our election of either a LIBOR-based rate or the higher of the bank’s reference rate and the Federal Funds rate, plus 0.5%. For each LIBOR-based advance, we must elect a LIBOR period of one, two, three or six months.The unsecured line of credit expires December 2007 and may be extended at our sole option for an additional one-year period.As of December 31, 2004, we had borrowings of $298.0 mil- lion outstanding on the unsecured line of credit with a weighted average interest rate of 3.72%. 

