EXHIBIT 10.3
Investment & Corporate Banking
111 West Monroe ▇▇.
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(312) 461-7219
March 24, 2000
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Executive Vice President, General Counsel
Realty Income Corporation
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RE: $25 Million Revolving Credit Agreement between Bank of Montreal
and Realty Income Corporation dated February 1, 2000 (the
"Credit Agreement")
Dear ▇▇▇▇▇▇▇:
As we discussed by telephone today, this letter will confirm the Bank
of Montreal consents to the following change in the captioned Credit
Agreement:
The final sentence of Section 2.02, paragraph (a) "Procedure for Pro
Rata Loans" shall be amended to allow EuroDollar Prorata Loans in the
minimum aggregate amount of $1,000,000. This amount is reduced from
the $5,000,000 currently in the document. The remainder of the Credit
Agreement shall be unchanged.
▇▇▇▇▇▇▇, I'm glad we could help and I trust this change will be
satisfactory.
Yours truly,
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Vice President
Real Estate Capital Markets
GKS/gks
