Exhibit 10.1

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August 17, 2007

DCTRT Securities Holdco LLC and TRT Lending LLC
c/o Dividend Capital Total Realty Operating Partnership, LP
518 Seventeenth Street, 17th Floor
Denver, Colorado 80202
Attn: John Biallas

Re:          Termination of Master Repurchase Agreement

Ladies and Gentlemen:

Reference is made to that certain Master Repurchase Agreement dated as of
October 26, 2006 (the “Repurchase Agreement”), by and between DCTRT Securities
Holdco LLC and TRT Lending LLC (“Sellers”) and JPMorgan Chase Bank, N.A.
(“Buyer”).  Capitalized terms used herein and not otherwise defined have the
meanings set forth in the Repurchase Agreement.

It is our understanding that you desire to terminate the Repurchase Agreement as
of August 17, 2007, conditioned upon the cessation of accrual of the non-usage
fee described in Article 3(h) of the Repurchase Agreement as of August 16,
2007.  We hereby notify you that we are in agreement with your request.  By
signing this letter below, you (i) waive all, defenses, rights of setoff,
claims, counterclaims or causes of action of any kind or description against the
Buyer arising under or in respect of the Repurchase Agreement or any other
related document and (ii) acknowledge and agree to the termination of the
Repurchase Agreement, subject to the terms of this letter.

The termination of the Repurchase Agreement shall in no event be construed as a
waiver or modification on our part of any rights and remedies we may have under
the Repurchase Agreement, which we may avail of at any time subsequent to the
effectiveness of such termination.

Notwithstanding such termination, obligations under the Repurchase Agreement
that are intended to survive such terminations including, without limitation,
the provisions of Articles 3(m), 3(n) and 3(o), shall remain in full force and
effect.

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Very truly yours,

 

 

 

JPMORGAN CHASE BANK, N.A.

 

 

 

 

 

By:

/s/ Steven E. Schwartz

 

 

Name:

Steven E. Schwartz

 

 

 

Title:

Managing Director

 

 

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Agreed and acknowledged:

 

 

 

 

 

 

DCTRT SECURITIES HOLDCO LLC

 

 

 

 

 

 

By:

Dividend Capital Total Realty

 

 

Operating Partnership, LP, a

 

 

Delaware limited partnership, its sole

 

 

member

 

 

 

 

 

 

 

By:

Dividend Capital Total Realty

 

 

 

Trust Inc., a Maryland

 

 

 

corporation, its general partner

 

 

 

 

 

 

 

 

By:

/s/ Troy Bloom

 

 

 

 

Name: Troy Bloom

 

 

 

 

Title:   Secretary

 

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TRT LENDING LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

DCTRT Securities Holdco LLC, a
Delaware limited liability company,
its sole member

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Dividend Capital Total Realty
Operating Partnership, LP, a
Delaware limited partnership, its
sole member

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Dividend Capital Total
Realty Trust Inc., a Maryland
corporation, its general
partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ Troy Bloom

 

 

 

 

 

 

 

Name:

Troy Bloom

 

 

 

 

 

 

 

Title:

Secretary

 

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