In December 2004, we amended our unsecured term loan to increase the loan from $150 million to $250 million.The unsecured term loan bears interest at a floating rate based on our election of either a LIBOR-based rate or the higher of the bank’s reference rate and the Federal Funds rate, plus 0.5%. For each LIBOR-based advance, we must elect to fix for a period of one, two three or six months. The  unsecured term loan expires in December 2009.As of December 31, 2004, we had borrowings of $250.0 million outstanding on the unsecured term loan with a weighted average interest rate of 3.72%. Our unsecured line of credit and unsecured term loan contain financial covenants, including, among other things, maintenance of minimum net worth, a leverage ratio and a fixed charge coverage ratio. In addition, the terms of the unsecured line of credit and unsecured term loan restrict, among other things, certain investments, indebtedness, distributions and mergers. Aggregate borrowings under the unsecured line of credit and unsecured term loan may be limited to an amount based on the net operating income derived from a pool of unencumbered properties. Accordingly, as we acquire or complete the development or redevelopment of additional unencumbered properties, aggregate borrowings available under the unsecured line of credit and unsecured term loan will increase up to a maximum combined amount of $750 million. Under these provisions as of December 31, 2004, aggregate borrowings under our unsecured line of credit and unsecured term loan were limited to $666 million. Under the amended and restated unsecured line of credit and unsecured term loan, we have an option to increase our maximum available commitment by an additional $100 million. We utilize interest rate swap agreements to hedge a portion of our exposure to variable interest rates associated with our unsecured line of credit and unsecured term loan. These agreements involve an exchange of fixed and floating interest payments without the exchange of the underlying principal amount (the “notional amount”). Interest received under all of our swap agreements is based on the one- month LIBOR rate.The net difference between the interest paid and the interest received is reflected as an adjustment to interest expense. The following table summarizes our interest rate swap agreements as of December 31, 2004 (dollars  in thousands): P 12 Effective at Interest Transaction  Effective Notional December 31,  Pay  Termination Fair Dates Dates Amounts 2004 Rates Dates Values July 2002 January 1, 2003 $ 25,000 $ 25,000 3.855% June 30, 2005 $ (142) July 2002 January 1, 2003 25,000 25,000  3.865% June 30, 2005 (143) November 2002 June 1, 2003 25,000 25,000  3.115% December 31, 2005 (31) November 2002 June 1, 2003 25,000 25,000  3.155% December 31, 2005 (41) December 2002 January 2, 2003 25,000 25,000  3.285% June 30, 2006 (35) December 2002 January 2, 2003 25,000 25,000  3.285% June 30, 2006 (35) December 2003 December 31, 2004 50,000 50,000  3.000% December 30, 2005 (4) December 2003 December 30, 2005 50,000 -  4.150% December 29, 2006 (219) December 2003 December 29, 2006 50,000 -  5.090% October 31, 2008 (795) March 2004 December 31, 2004 25,000 25,000  2.956% December 31, 2006 186  March 2004 December 31, 2004 25,000 25,000  2.956% December 31, 2006 186 April 2004 April 30, 2004 50,000 50,000  1.550% April 29, 2005 173  April 2004 April 29, 2005 50,000 -  3.140% April 28, 2006 81  April 2004 April 28, 2006 50,000 -  4.230% April 30, 2007 (205) April 2004 April 30, 2007 50,000 -  4.850% April 30, 2008 (333) June 2004 June 30, 2005 50,000 -  4.343% June 30, 2007 (679) December 2004 December 31, 2004 50,000 50,000  3.590% January 2, 2008 (57) December 2004 January 3, 2006 50,000 -  3.927% July 1, 2008 3  Total Interest Rate Swap Agreements in Effect at December 31, 2004 $ 350,000 $(2,090)