Exhibit 10.5

 

September 14, 2005

 

 

KeyBank National Association, as Lender and Agent

127 Public Square

Cleveland, Ohio 44114-1306

Attention: Real Estate - Capital Services

 

KeyBank National Association, as Lender and Agent

1200 Abernathy Road, N.E.

Suite 1550

Atlanta, Georgia  30328

Attn:  Dan Stegemoeller

 

Re:                             Secured Revolving Loan (the “Secured Revolving
Loan”) from KeyBank National Association (“KeyBank”), both individually and as
Agent for various lenders (collectively, “Secured Revolver Lender”), to
AmeriVest Properties Inc., a Maryland corporation (“Borrower”); and Unsecured
Revolving Loan (the “Unsecured Revolving Loan”) from KeyBank, both individually
and as Agent for various lenders (collectively, “Unsecured Revolver Lender”), to
Borrower

 

Ladies and Gentlemen:

 

Pursuant to Sections 8.4(c) of the Loan Agreement, as amended, for the
referenced Secured Revolving Loan and the Loan Agreement, as amended, for the
referenced Unsecured Revolving Loan, attached is the Plan of Transfer referenced
in Paragraph 2(k) of the Fifth Amendment to Revolving Credit Agreement for the
Secured Revolving Loan and referenced in Paragraph 2(m) of the Second Amendment
to the Amended and Restated Unsecured Revolving Credit Agreement.  The amounts
set forth under the heading “Sales Price” in the Plan of Transfer shall also be
the minimum gross sales price for each asset for purposes of Section 8.12 of the
Loan Agreement, as amended, for the Unsecured Revolving Loan.

 

Please sign and return a copy of this letter to the undersigned to indicate your
receipt of the Plan of Transfers.

 

 

AMERIVEST PROPERTIES INC.,

 

a Maryland corporation

 

 

 

By:

/s/ Charles K. Knight

 

Name:

Charles K. Knight

 

Title:

President and CEO

 

 

****The confidential portion of this Agreement has been omitted and filed
separately with the Securities and Exchange Commission

 

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Received this        day of September, 2005:

 

KEYBANK NATIONAL ASSOCIATION,

a national banking association, as Lender and Agent

 

By:

/s/ Daniel P. Stegemoeller

 

Name:

Daniel P. Stegemoeller

 

Title:

Vice President

 

 

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Plan of Transfer

 

Asset

 

Location

 

Sales Price

 

 

 

 

 

 

 

[****[

 

[****]

 

[****]

 

 

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****The confidential portion of this Agreement has been omitted and filed
separately with the Securities and Exchange Commission

 

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