Exhibit 10.3

AMENDMENT TO CREDIT AGREEMENT

THIS
AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is made as of October 4, 2007, by and among SIMON PROPERTY GROUP, L.P., a Delaware limited partnership (the
"Borrower"), the LENDERS listed on the signature pages hereof, JPMORGAN CHASE BANK, N.A., as Administrative Agent, DEUTSCHE BANK SECURITIES, INC., as Co-Documentation Agent, THE
BANK OF NOVA SCOTIA, NEW YORK AGENCY, as Co-Documentation Agent, and SUMITOMO MITSUI BANKING CORPORATION, as Co-Documentation Agent, and UBS SECURITIES LLC, as Joint
Syndication Agent, BANK OF AMERICA, N.A., as Joint Syndication Agent, and CITICORP NORTH AMERICA INC., as Joint Syndication Agent.

WITNESSETH:

WHEREAS,
the Borrower and the Lenders have entered into the Credit Agreement, dated as of December 15, 2005 (the "Credit Agreement"); and

WHEREAS,
the Borrower has exercised its option pursuant to Section 2.1(d) of the Credit Agreement; and

WHEREAS,
the parties desire to modify the Credit Agreement upon the terms and conditions set forth herein.

NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:



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IN
WITTIESS WHEREOF, this Amendment has been duly executed as of the date first above written.

|BORROWER: | SIMON PROPERTY GROUP, L.P.,
a Delaware limited partnership
|--------- | ----------------------------------------------------------
|          | By:                                                       
|          | By:                                                       

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|ADMINISTRATIVE AGENT AND LENDER: |  | JPMORGAN CHASE BANK, N.A.
|-------------------------------- |  | -------------------------
|                                 |  | By:                      
|                                 |  | Name:                    
|                                 |  | Title:                   

---



|SYNDICATION AGENT AND LENDER:                |  | UBS LOAN FINANCE, LLC
|-------------------------------------------- |  | ---------------------
|                                             |  | By:                  
|                                             |  | Name:                
|                                             |  | Title:               
|                                             |  | By:                  
|                                             |  | Name:                
|                                             |  | Title:               
|Revolving Credit Commitment: $106,765,625   
|Alternative Currency Commitment: $43,234,375

---



|SYNDICATION AGENT AND LENDER:                |  | CITICORP NORTH AMERICA, INC.
|-------------------------------------------- |  | ----------------------------
|                                             |  | By:                         
|                                             |  | Name:                       
|                                             |  | Title:                      
|Revolving Credit Commitment: $106,765,625   
|Alternative Currency Commitment: $43,234,375

---



|CO-DOCUMENTATION AGENT AND LENDER:           |  | DEUTSCHE BANK AG, NEW YORK BRANCH
|-------------------------------------------- |  | ---------------------------------
|                                             |  | By:                              
|                                             |  | Name:                            
|                                             |  | Title:                           
|                                             |  | By:                              
|                                             |  | Name:                            
|                                             |  | Title:                           
|Revolving Credit Commitment: $103,015,625   
|Alternative Currency Commitment: $41,984,375

---



|CO-DOCUMENTATION AGENT AND LENDER:           |  | THE BANK OF NOVA SCOTIA, NEW YORK AGENCY
|-------------------------------------------- |  | ----------------------------------------
|                                             |  | By:                                     
|                                             |  | Name:                                   
|                                             |  | Title:                                  
|Revolving Credit Commitment: $95,515,625    
|Alternative Currency Commitment: $39,484,375

---



|CO-DOCUMENTATION AGENT AND LENDER:           |  | SUMITOMO MITSUI BANKING CORPORATION
|-------------------------------------------- |  | -----------------------------------
|                                             |  | By:                                
|                                             |  | Name:                              
|                                             |  | Title:                             
|Revolving Credit Commitment: $99,265,625    
|Alternative Currency Commitment: $40,734,375

---



|SENIOR EXECUTIVE MANAGING AGENT AND LENDER:  |  | THE ROYAL BANK OF SCOTLAND PLC
|-------------------------------------------- |  | ------------------------------
|                                             |  | By:                           
|                                             |  | Name:                         
|                                             |  | Title:                        
|Revolving Credit Commitment: $92,265,625    
|Alternative Currency Commitment: $37,734,375

---



|SENIOR EXECUTIVE MANAGING AGENT AND LENDER:  |  | CALYON NEW YORK BRANCH
|-------------------------------------------- |  | ----------------------
|                                             |  | By:                   
|                                             |  | Name:                 
|                                             |  | Title:                
|                                             |  | By:                   
|                                             |  | Name:                 
|                                             |  | Title:                
|Revolving Credit Commitment: $84,765,625    
|Alternative Currency Commitment: $35,234,375

---



|SENIOR EXECUTIVE MANAGING AGENT AND LENDER:  |  | CREDIT SUISSE, CAYMAN ISLANDS BRANCH
|-------------------------------------------- |  | ------------------------------------
|                                             |  | By:                                 
|                                             |  | Name:                               
|                                             |  | Title:                              
|                                             |  | By:                                 
|                                             |  | Name:                               
|                                             |  | Title:                              
|Revolving Credit Commitment: $88,515,625    
|Alternative Currency Commitment: $36,484,375

---



|SENIOR EXECUTIVE MANAGING AGENT AND LENDER:  |  | MERRILL LYNCH BANK USA
|-------------------------------------------- |  | ----------------------
|                                             |  | By:                   
|                                             |  | Name:                 
|                                             |  | Title:                
|Revolving Credit Commitment: $88,515,625    
|Alternative Currency Commitment: $36,484,375

---



|SENIOR EXECUTIVE MANAGING AGENT AND LENDER:  |  | MORGAN STANLEY BANK
|-------------------------------------------- |  | -------------------
|                                             |  | By:                
|                                             |  | Name:              
|                                             |  | Title:             
|Revolving Credit Commitment: $88,515,625    
|Alternative Currency Commitment: $36,484,375

---



|SENIOR EXECUTIVE MANAGING AGENT AND LENDER:  |  | PNC BANK, NATIONAL ASSOCIATION
|-------------------------------------------- |  | ------------------------------
|                                             |  | By:                           
|                                             |  | Name:                         
|                                             |  | Title:                        
|Revolving Credit Commitment: $77,265,625    
|Alternative Currency Commitment: $32,734,375

---



|SENIOR MANAGING AGENT AND LENDER:            |  | NATIONAL CITY BANK
|-------------------------------------------- |  | ------------------
|                                             |  | By:               
|                                             |  | Name:             
|                                             |  | Title:            
|Revolving Credit Commitment: $75,000,000    
|Alternative Currency Commitment: $25,000,000

---



|SENIOR MANAGING AGENT AND LENDER:            |  | SUNTRUST BANK
|-------------------------------------------- |  | -------------
|                                             |  | By:          
|                                             |  | Name:        
|                                             |  | Title:       
|Revolving Credit Commitment: $60,000,000    
|Alternative Currency Commitment: $20,000,000

---



|MANAGING AGENT AND LENDER:                   |  | KBC BANK N.V.
|-------------------------------------------- |  | -------------
|                                             |  | By:          
|                                             |  | Name:        
|                                             |  | Title:       
|                                             |  | By:          
|                                             |  | Name:        
|                                             |  | Title:       
|Revolving Credit Commitment: $45,000,000    
|Alternative Currency Commitment: $15,000,000

---



|MANAGING AGENT AND LENDER:                   |  | UNION BANK OF CALIFORNIA, N.A
|-------------------------------------------- |  | -----------------------------
|                                             |  | By:                          
|                                             |  | Name:                        
|                                             |  | Title:                       
|Revolving Credit Commitment: $45,000,000    
|Alternative Currency Commitment: $15,000,000

---



|MANAGING AGENT AND LENDER:                   |  | LANDESBANK BADEN-WURTTEMBERG
NEW YORK BRANCH
|-------------------------------------------- |  | --------------------------------------------
|                                             |  | By:                                         
|                                             |  | Name:                                       
|                                             |  | Title:                                      
|                                             |  | By:                                         
|                                             |  | Name:                                       
|                                             |  | Title:                                      
|Revolving Credit Commitment: $48,750,000    
|Alternative Currency Commitment: $16,250,000

---



|MANAGING AGENT AND LENDER:                   |  | BANK OF TOKYOMITSUBISHI UFJ, LTD.
|-------------------------------------------- |  | ----------------------------------
|                                             |  | By:                               
|                                             |  | Name:                             
|                                             |  | Title:                            
|Revolving Credit Commitment: $45,000,000    
|Alternative Currency Commitment: $15,000,000

---



|MANAGING AGENT AND LENDER:                  |  | AAREAL BANK AG
|------------------------------------------- |  | --------------
|                                            |  | By:           
|                                            |  | Name:         
|                                            |  | Title:        
|                                            |  | By:           
|                                            |  | Name:         
|                                            |  | Title:        
|Revolving Credit Commitment: $22,500,000   
|Alternative Currency Commitment: $7,500,000

---



|MANAGING AGENT AND LENDER:                  |  | GOLDMAN SACHS BANK USA
|------------------------------------------- |  | ----------------------
|                                            |  | By:                   
|                                            |  | Name:                 
|                                            |  | Title:                
|Revolving Credit Commitment: $22,500,000   
|Alternative Currency Commitment: $7,500,000

---



|LENDER:                                  |  | PEOPLE'S UNITED BANK
|---------------------------------------- |  | --------------------
|                                         |  | By:                 
|                                         |  | Name:               
|                                         |  | Title:              
|Revolving Credit Commitment: $25,000,000
|Alternative Currency Commitment: $0     

---



SCHEDULE 1.1

|Lender                                               |  | Revolving Credit Commitment |               | Alternative Currency Commitment
|---------------------------------------------------- |  | --------------------------- | ------------- | -------------------------------
|JPMorgan Chase Bank, N.A.                            |  | $                           | 89,765,625    |                                
|Bank of America, N.A.                                |  | $                           | 89,765,625    |                                
|Citicorp North America, Inc.                         |  | $                           | 106,765,625   |                                
|UBS Loan Finance LLC                                 |  | $                           | 106,765,625   |                                
|Deutsche Bank AG, New York Branch                    |  | $                           | 103,015,625   |                                
|Sumitomo Mitsui Banking Corporation                  |  | $                           | 99,265,625    |                                
|The Bank of Nova Scotia, New York Agency             |  | $                           | 95,515,625    |                                
|The Royal Bank of Scotland plc                       |  | $                           | 92,265,625    |                                
|Wachovia Bank, National Association                  |  | $                           | 92,265,625    |                                
|Credit Suisse, Cayman Islands Branch                 |  | $                           | 88,515,625    |                                
|Merrill Lynch Bank USA                               |  | $                           | 88,515,625    |                                
|Morgan Stanley Bank                                  |  | $                           | 88,515,625    |                                
|U.S. Bank National Association                       |  | $                           | 88,515,625    |                                
|Calyon New York Branch                               |  | $                           | 84,765,625    |                                
|PNC Bank, National Association                       |  | $                           | 77,265,625    |                                
|Eurohypo AG, New York Branch                         |  | $                           | 66,015,625    |                                
|National City Bank of Indiana                        |  | $                           | 75,000,000    |                                
|Suntrust Bank                                        |  | $                           | 60,000,000    |                                
|Bayerische Landesbank, New York Branch               |  | $                           | 56,250,000    |                                
|ING Real Estate Finance (USA) LLC                    |  | $                           | 56,250,000    |                                
|LaSalle Bank National Association                    |  | $                           | 56,250,000    |                                
|Landesbank Baden-Wurttemberg New York Branch         |  | $                           | 48,750,000    |                                
|Bank of Tokyo-.Mitsubishi UFJ, Ltd.                  |  | $                           | 45,000,000    |                                
|Fifth Third Bank                                     |  | $                           | 45,000,000    |                                
|KBCBank N.V.                                         |  | $                           | 45,000,000    |                                
|Union Bank of California, N.A.                       |  | $                           | 45,000,000    |                                
|Hypo Real Estate Capital Corporation                 |  | $                           | 37,500,000    |                                
|Mizuho Corporate Bank, Ltd.                          |  | $                           | 37,500,000    |                                
|Nomura Funding Facility Corporation Ltd.             |  | $                           | 37,500,000    |                                
|Societe Generale                                     |  | $                           | 37,500,000    |                                
|C.M. Life Insurance Company                          |  | $                           | 3,000,000     |                                
|Massachusetts Mutual Life Insurance Company          |  | $                           | 47,000,000    |                                
|Emigrant Bank                                        |  | $                           | 50,000,000    |                                
|Westdeutsche Immobilienbank                          |  | $                           | 50,000,000    |                                
|Norddeutsche Landesbank Girozentrale New York Branch |  | $                           | 30,000,000    |                                
|Aareal Bank AG                                       |  | $                           | 22,500,000    |                                
|Goldman Sachs Bank USA                               |  | $                           | 22,500,000    |                                
|Banco Popular de Puerto Rico                         |  | $                           | 25,000,000    |                                
|Bank of China                                        |  | $                           | 25,000,000    |                                
|Chang Hwa Commercial Bank, Ltd., New York Branch     |  | $                           | 25,000,000    |                                
|Comerica Bank                                        |  | $                           | 25,000,000    |                                
|Malayan Banking Berhad                               |  | $                           | 25,000,000    |                                
|People's United Bank                                 |  | $                           | 25,000,000    |                                
|The Governor and Company of the Bank of Ireland      |  | $                           | 25,000,000    |                                
|Mega International Commercial Bank, New York Branch  |  | $                           | 15,000,000    |                                
|First Commercial Bank, Los Angeles Branch            |  | $                           | 20,000,000    |                                
|The Norinchukin Bank, New York Branch                |  | $                           | 15,000,000    |                                
|Bank of Taiwan, New York Agency                      |  | $                           | 15,000,000    |                                
|Chinatrust Commercial Bank, New York Branch          |  | $                           | 10,000,000    |                                
|Hua Nan Commercial Bank Ltd., New York Agency        |  | $                           | 10,000,000    |                                
|                                                     |  |                             |               |                                
|TOTAL                                                |  | $                           | 2,625,000,000 |                                
|                                                     |  |                             |               |                                

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