Document:

Exhibit 10.76

                                                        Exhibit 10.76

LOAN AGREEMENT

 

 

 

Exodus Communications, Inc agrees to extend a loan to Beverly
A. Brown ("Brown") pursuant to the terms and conditions described
below:

Loan Amount:$400,000

Availability:$200,000 beginning November 1, 1999

$100,000 beginning April 1, 2000
$100,000 beginning June 1, 2000

Interest:The then-current Applicable Federal Rate pursuant to IRC Section
1274(d), compounded annually (the rate for October 1999 is 6.02%).

Maturity:Earlier of June 30, 2005 or termination of full time employment
by Brown with Exodus Communications, Inc. and its subsidiaries.  Brown agrees to
repay any outstanding principal balance on the loan as follows:  When Brown
sells any stock underlying options granted by Exodus, Brown shall repay the
outstanding principal to the extent of 25% of the gross profits from such sale.
If Brown's annual gross compensation (including bonus) exceeds $336,000, Brown
shall repay the outstanding principal at the end of the fiscal year the amount
that exceeds $336,000.

Security:Evidenced by a full recourse promissory note and secured by a
security agreement on the real principal residence property of Brown.  In the
event that it is not possible to obtain a security interest in the principal
residence real property of Brown (due to the refusal of a senior creditor), the
parties agree that they will in good faith determine acceptable alternate
security.

Forgiveness:If Brown is involuntarily terminated by Exodus for any reason
other than Cause at any time following the first anniversary of Brown's
employment commencement date, Brown's then-outstanding loan repayment
obligations (principal and interest) shall be forgiven.  At the time the
principal is repaid in full all outstanding interest obligations will be
forgiven or forgiven as described in the forgoing sentence.

 

Date:  October 5, 1999

 

Robert Helms, Vice President Human Resources  __________________________

Exodus Communications, Inc.

 

Beverly A.  Brown ________________________________Exhibit 10.77

                                                        Exhibit 10.77

FULL RECOURSE PROMISSORY NOTE

Santa Clara, California

$200,000.00
November 5, 1999

	Obligation.  For value received, Beverly
Brown (the "Debtor") promises to pay to Exodus Communications,
Inc., a Delaware corporation (the "Company"), or order, on or
before June 30, 2005, (the "Loan Term") the principal sum of
Two Hundred Thousand Dollars ($200,000], together with interest
compounded annually on the unpaid principal balance from the date hereof at the
rate of 6.08%, which rate is not less than the minimum rate established
pursuant to 1274(d) of the Internal Revenue Code of l986, as amended, as of the
date hereof; provided, however, that the rate at which interest will
accrue on unpaid principal under this Note will not exceed the highest rate
permitted by applicable law.  

	Default; Acceleration of Obligation.
Debtor will be deemed to be in default under this Note and the principal sum of
this Note, together with all interest accrued thereon, will immediately become
due and payable in full without notice or demand on the part of the Company:
(a) upon Debtor's failure to make any payment when due under this Note; (b) in
the event Debtor ceases to be employed by the Company for any reason; (c) upon
the filing by or against Debtor of any voluntary or involuntary petition in
bankruptcy or any petition for relief under the federal bankruptcy code or any
other state or federal law for the relief of debtors or (d) upon the execution
by Debtor of an assignment for the benefit of creditors or the appointment of a
receiver, custodian, trustee or similar party to take possession of Debtor's
assets or property.  Debtor's obligation to pay the outstanding principal will
be accelerated and due as follows (a) in the event Debtor sells or otherwise
receives consideration for the disposition of any stock underlying Debtor's
compensatory options to purchase Exodus Common Stock, Debtor shall pay to the
company an amount of outstanding principal equal to 25% of the gross profits
received for the disposition of such stock within 15 days of such disposition;
and (b) in the event Debtor's annual gross compensation exceeds $336,000 in any
fiscal year, Debtor shall pay to the company an amount of outstanding principal
equal to the annual gross compensation (including bonus) less $336,000 no later
than the last day of such fiscal year.

	Remedies On Default.  Upon any default of
Debtor under this Note, the Company will have the rights and remedies available
to it under this Note and may pursue any other legal or equitable remedies that
are available to it, and will have full recourse against any real, personal,
tangible or intangible assets of the Debtor.

	Prepayment.  Prepayment of principal and/or
interest due under this Note may be made at any time without penalty.  Unless
otherwise agreed in writing by the Company, all payments will be made in lawful
tender of the United States and will be applied first to the payment of
outstanding principal and then to the payment of accrued but unpaid
interest.

	Termination.  In the event Debtor is
involuntarily terminated without cause (as defined in the Executive Employment
Policy) at any given time following September 30, 2000 the obligation of Debtor
hereunder shall be forgiven in full.  At such time that outstanding principal
sum is repaid hereunder all interest obligations shall be forgiven

	Governing Law; Waiver.  The validity,
construction and performance of this Note will be governed by the internal laws
of the State of California excluding that body of law pertaining to conflicts of
law.  Debtor hereby waives presentment, notice of non-payment, notice of
dishonor, protest, demand and diligence.

	Attorneys' Fees.  If suit is brought for
collection of this Note, Debtor agrees to pay all reasonable expenses, including
attorneys' fees, incurred by the Company in connection therewith whether or not
such suit is prosecuted to judgment.

	IN WITNESS WHEREOF, Debtor has executed this Note as of
the day and year first above written.

 

 

BORROWER

Beverly A. Brown

 

______________________________Exhibit 10.14

                             Executive Unit Purchase
                                 Program Summary

Overview

o        The Colonial Realty Limited Partnership Executive Unit Purchase Program
         (the  "Program") is a voluntary  program under which a limited group of
         management employees of Colonial Realty Limited Partnership  ("Colonial
         Realty" or the  "Company")  and trustees of Colonial  Properties  Trust
         ("Colonial  Properties") are being provided the opportunity to purchase
         operating  partnership  units  (the "OP  Units")  of  Colonial  Realty,
         redeemable under certain  circumstances for cash or for an equal number
         of common shares of beneficial  interest  ("Common Shares") in Colonial
         Properties.  The OP Units are more fully described in the Summary of OP
         Units located in Tab II of Volume II of this Offering Memorandum.

o        The Program is  designed to closely  align the  economic  interests  of
         Colonial Realty's key managers and Colonial  Properties'  trustees with
         those of Colonial Properties' shareholders.

Minimum and Maximum Amounts

To  participate  in the Program,  you must  purchase OP Units in an amount of at
least  $100,000.  The maximum amount of OP Units you may purchase will depend on
your position within the Company.  Your personalized cover memo to this Offering
Memorandum  describes your potential maximum purchase under the Program.  Within
the  Program  as  a  whole,  maximum  purchases  will  range  from  $100,000  to
$1,500,000.

Restrictions on Transfer

If you elect to purchase OP Units through the program,  your ability to transfer
or redeem your OP Units will be restricted for a period of up to five years. The
terms of these restrictions are contained in the Registration Rights and Lock-Up
Agreement,  a sample  of  which  is  contained  in Tab IX of  Volume  II of this
Offering Memorandum.

<PAGE>

The Program Loan

o        To assist you in purchasing  your OP Units,  Colonial  Realty will make
         arrangements for you to obtain a personal loan for 100% of the value of
         the OP Units you elect to purchase (the "Program  Loan").  Your Program
         Loan will be made by a syndicate of banks  (collectively,  the "Banks")
         for which Bank One, NA (Main Office  Chicago)  ("Bank One") will act as
         agent.

o        The proceeds of your Program  Loan will be  transferred  to the Company
         via your  signature  on a Letter  of  Direction.  A  sample  Letter  of
         Direction  is  contained  in  Tab  IV of  Volume  II of  this  Offering
         Memorandum.

o        The term of your  Program  Loan will be five  years.  At the end of the
         term,  the entire  amount of your Program Loan will be due and payable,
         together  with any  accrued or  deferred  interest  through the date of
         payment in full. There will be no required reduction in principal until
         the entire amount of your Program Loan becomes due and payable. You may
         also  be   required  to  prepay  your   Program   Loan  under   certain
         circumstances,  which  are  described  in  more  detail  later  in this
         document.

o        You will be personally liable for payment in full of your Program Loan,
         including all  principal,  interest and fees, and you will be obligated
         to repay the entire  amount of your  Program  Loan,  regardless  of the
         value of the OP Units on the date your Program Loan becomes due.

o        In order to obtain your Program  Loan,  you will be required to provide
         the Banks  with a  personal  financial  statement  and to sign a Master
         Promissory  Note.  A form  for your  personal  financial  statement  is
         contained in Tab V of Volume II of this Offering  Memorandum.  A sample
         of a Master  Promissory  Note is  contained  in Tab VII of Volume II of
         this  Offering  Memorandum.  You will also be required to provide other
         documentation to the Company,  as described  elsewhere in this Offering
         Memorandum.

Your Reimbursement Obligations

Colonial Properties and Colonial Realty have agreed to guaranty your obligations
to the Banks under your Program Loan. In  consideration  of this  guaranty,  you
will be required to pledge your interest in your OP Units to Colonial Properties
and Colonial Realty for as long as your Program Loan is outstanding. Your pledge
will serve as security for your obligation to reimburse Colonial  Properties and
Colonial  Realty if either of them is required to make good on the guaranty as a
result of your having  failed to repay your  Program  Loan or any other  amounts
owed by you to the Banks. Your obligation to reimburse  Colonial  Properties and
Colonial  Realty  and  your  pledge  of your OP  Units  will  be  governed  by a
Reimbursement Agreement, a sample of which is contained in Tab VIII of Volume II
of this Offering Memorandum.

Your Program Account

o        In  connection  with your  Program  Loan,  you will be provided  with a
         special  interest-bearing account (your "Program Account") at Bank One.
         Your Program Account will be the bank account into which  distributions
         on your OP Units are paid and into which you may be required to deposit
         funds to meet principal, interest and other charges and from which your
         interest and other payments to the Banks will be deducted.  The Program
         Account  is  provided  at no cost to you  while  your  Program  Loan is
         outstanding.

o        In order to open your  Program  Account,  you will need to complete the
         Bank One Private  Banking forms contained in Tab V of Volume II of this
         Offering Memorandum.

Use of Proceeds by Colonial Realty

The  Company  will use the net  proceeds  of your  purchase  of OP Units to fund
repurchases of Common Shares by Colonial  Properties,  to repay  indebtedness or
for other general partnership  purposes.  The Company currently expects proceeds
from the Program to total up to $39.1 million, after deducting expenses incurred
under the Program.

Eligibility to Participate

In the event that your employment is terminated before your purchase of OP Units
has actually become effective (or, if you are a Trustee Participant,  you are no
longer  a  trustee  of  Colonial  Properties),  you  will  not  be  eligible  to
participate in the Program, and any of the documents you or the Company may have
signed will become null and void, and of no force or effect.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]