The members of MerchantWired LLC, including the Management Company, agreed to sell their interests in  MerchantWired LLC under the terms of a definitive agreement with Transaction Network Services, Inc (“TNSI”). The  transaction was expected to close in the second quarter of 2002, but in June 2002, TNSI unexpectedly informed the  members of MerchantWired LLC that it would not complete the transaction. As a result, MerchantWired LLC shut down  its operations and transitioned its customers to alternate service providers, which was completed by September 3, 2002.  Accordingly, the Management Company wrote-off its investment in and advances to MerchantWired LLC. This resulted in  our $38.8 million share of a write-off before tax, $22.5 million net of tax, which includes a $7.0 million write-down in the  carrying amount of the infrastructure, consisting of broadband cable and the related connections and routers (“Cable”). We  have not made any, nor do we expect to make, additional cash contributions to MerchantWired LLC. We and the other members of MerchantWired LLC paid $49.5 million directly to a MerchantWired LLC vendor  to purchase the Cable in satisfaction of a lease guarantee obligation, of which our share was $26.3 million. As a result, we  now own and control the Cable in our properties. The amount of the Cable acquired totaled $19.3 million. The Cable was  installed in both consolidated and joint venture Properties and is being amortized over four years. We are currently using the  Cable for connectivity to our mall management offices. Our mortgages and other notes payable consist of the following: NOTE 8. INDEBTEDNESS AND DERIVATIVE FINANCIAL INSTRUMENTS General. We have pledged 76 Properties as collateral to secure related mortgage notes including 8 pools of cross- defaulted and cross-collateralized mortgages encumbering a total of 38 Properties. Under these cross-default provisions, a  default under any mortgage included in the cross-defaulted package may constitute a default under all such mortgages and  may lead to acceleration of the indebtedness due on each Property within the collateral package. Of our 76 encumbered  65 2003 annual report December 31  2003 2002 Fixed-Rate Debt Mortgages and other notes, including $21,742 and $29,683 net premiums, respectively. Weighted average interest and maturity of 6.57% and 6.5 years.  $ 3,360,917 $ 2,602,640 Unsecured notes, including $16,547 and $17,770 net discounts, respectively. Weighted average interest and maturity of 6.74% and 4.8 years.  4,998,453 4,972,230 6 ¾ % Putable Asset Trust Securities, including $0 and $236 net premium, respectively, due November 2003  –  100,236 7% Mandatory Par Put Remarketed Securities, including $4,933 and $5,011 premiums, respectively, due June 2028 and subject to redemption June 2008.  204,933 205,011 Commercial mortgage pass-through certificates. Five classes bearing interest at weighted average rates and maturity of 7.31% and 1.0 year.  172,290 173,693 Total fixed-rate debt 8,736,593 8,053,810 Variable-Rate Debt Mortgages and other notes, at face value, respectively. Weighted average interest and maturity of 2.55% and 1.5 years.  $  619,763 $  852,467 Floating Rate Mandatory Extension Notes, due November 15, 2014. Weighted average interest and maturity of 1.92% and 10.9 years.  113,100 – Credit Facility (see below)  327,901 308,000 Euro Facility (see below)  – 59,078 Commercial mortgage pass-through certificates, interest at 6.2%, due December 2004.  48,157 49,112 Unsecured term loans. Weighted average rates and maturities of 2.25% and 1.5 years.  419,679 215,000 Total variable-rate debt 1,528,600 1,483,657 Fair value interest rate swaps  1,195 8,614 Total mortgages and other notes payable, net $ 10,266,388  $ 9,546,081