Notes Payable (Tables)

9 Months Ended

Sep. 30, 2012

Notes Payable

Summary of maturity of notes payable

Principal payments due in: (1) (2)
October - December 2012	$	5,799
2013	227,670
2014	264,633
2015	503,839
2016	950,065
Thereafter	221,762
unamortized discount	(19		)
Total	$	2,173,749

(1)Approximately $93.4 million of non-recourse loans secured by our 17655 Waterview, Ashford Perimeter and Riverview Tower properties are in default and have scheduled maturity dates after 2012, but as of September 30, 2012 we have received notification from these lenders demanding immediate payment.  The table above reflects the required principal payments of these loans using the original maturity dates.  If these loans were shown as payable in full on October 1, 2012, the principal payments in 2012 would increase by approximately $93.1 million, while principal payments in 2013, 2014, 2015 and 2016 would decrease by approximately $0.5 million, $0.5 million, $32.4 million and $59.7 million, respectively.

(2)Subsequent to September 30, 2012, we received notification from the lender demanding immediate payment of approximately $49.0 million of non-recourse loans secured by our Epic Center, One Brittany, Two Brittany, Tice Building and One Edgewater Plaza properties.  The impact of accelerating the payment requirements of these loans is not reflected in the table above.