Real Estate

DEPOSIT AGREEMENT

This DEPOSIT AGREEMENT is made and entered into as of November     , 2003 by and among Saul Centers, Inc., a Maryland corporation (the �Company�), Continental Stock Transfer & Trust Company, as Depositary, and all holders from time to time of Receipts (as hereinafter defined) issued hereunder.

WITNESSETH:

WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of the Company�s Preferred Stock (as hereinafter defined) with the Depositary for the purposes set  . . .

                                DEPOSIT AGREEMENT

     THIS DEPOSIT AGREEMENT, dated as of July 8, 2004, is entered into by and
among WEINGARTEN REALTY INVESTORS, a Texas real estate investment trust (the
"Company"), Mellon Investor Services LLC ("MIS"), as Depositary, and all holders
from time to time of Receipts (as hereinafter defined) issued hereunder.

                                   WITNESSETH:

     WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit
Agreement for the deposit of the Company's Preferred Shares (as  . . .

                          REGENCY CENTERS CORPORATION,

                      WACHOVIA BANK, NATIONAL ASSOCIATION,
                                 AS DEPOSITARY,

                                       AND

                        THE HOLDERS FROM TIME TO TIME OF
                  THE RECEIPTS EVIDENCING THE DEPOSITARY SHARES
                                DESCRIBED HEREIN.


                                Deposit Agreement


                            Dated as of April 3, 2003









                                TABLE OF CONTENTS

                      . . .

FORM OF DEPOSIT AGREEMENT

        This DEPOSIT AGREEMENT is made and entered into as of                            , 200  by and among NEW PLAN EXCEL REALTY TRUST, INC., a Maryland corporation,                         , a national banking association, as Depositary, and all holders from time to time of Receipts (as hereinafter defined) issued hereunder.

WITNESSETH:

        WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of the Company's Preferred Stock (as hereinafter defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of the Receipts evidencing Depositary Shares representing a fractional interest in the Preferred Stock deposited; and

        WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement;

        NOW, THEREFORE, in consideration of the premises contained herein, it is agreed by and among the parties hereto as follows:

ARTICLE I

DEFINITIONS

        The following definitions shall apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit Agreement and the Receipts:

        SECTION 1.01.    "Articles of Incorporation" shall mean the Articles of Amendment and Restatement of Articles of Incorporation, as amended and supplemented from time to time, of the Company.

        SECTION 1.02.    "Articles Supplementary" shall mean the Articles Supplementary Classifying            Shares of Preferred Stock as            % Series                         Preferred Stock filed with the State Department of Assessments and Taxation of the State of Maryland establishing the Preferred Stock as a series of Preferred Stock of the Company.

        SECTION 1.03.    "Common Stock" shall mean shares of the Company's common stock, $.01 par value per share.

        SECTION 1.04.    "Company" shall mean New Plan Excel Realty Trust, Inc., a Maryland corporation, and its successors.

        SECTION 1.05.    "Corporate Office" shall mean the corporate office of the Depositary at which at any particular time its business in respect of matters governed by this Deposit Agreement shall be administered, which at the date of this Deposit Agreement is located at                                    .

        SECTION 1.06.    "Deposit Agreement" shall mean this agreement, as the same may be amended, modified or supplemented from time to time.

        SECTION 1.07.    "Depositary" shall mean                        , a company or corporation having its principal office in the United States, and any successor as depositary hereunder.

        SECTION 1.08.    "Depositary Share" shall mean a            fractional interest of a share of Preferred Stock deposited with the Depositary hereunder and the same proportionate interest in any and all other property received by the Depositary in respect of such share of Preferred Stock and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. Subject to the terms of this Deposit Agreement, each owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of the Preferred Stock represented by such Depositary Share,

including the dividend and distribution, voting, redemption, conversion and liquidation rights contained in the Articles Supplementary.

        SECTION 1.09.    "Depositary's Agent" shall mean one or more agents appointed by the Depositary as provided, and for the purposes specified, in Section 7.05.

        SECTION 1.10.    "Ownership Limit" shall have the meaning set forth in Article VII of the Company's Articles of Incorporation.

        SECTION 1.11.    "Preferred Stock" shall mean shares of the Company's            % Series                        Preferred Stock, $.01 par value per share, heretofore validly issued, fully paid and non-assessable.

        SECTION 1.12.    "Receipt" shall mean a Depositary Receipt issued hereunder to evidence one or more Depositary Shares, whether in definitive or temporary form, substantially in the form set forth as Exhibit A hereto.

        SECTION 1.13.    "record date" shall mean the date fixed pursuant to Section 4.04.

        SECTION 1.14.    "record holder" or "holder" as applied to a Receipt shall mean the person in whose name a Receipt is registered on the books maintained by the Depositary for such purpose.

        SECTION 1.15.    "Registrar" shall mean                        , or any bank or trust company appointed to register ownership and transfers of Receipts or the deposited Preferred Stock, as the case may be, as herein provided.

        SECTION 1.16.    "Securities Act" shall mean the Securities Act of 1933, as amended.

        SECTION 1.17.    "Transfer Agent" shall mean                        , or any bank or trust company appointed to transfer the Receipts or the deposited Preferred Stock, as the case may be, as herein provided.

ARTICLE II

FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, EXECUTION
AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS

        Section 2.01.    Form and Transferability of Receipts.    Definitive Receipts shall be engraved or printed or lithographed with steel-engraved borders and underlying tint and shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided. Pending the preparation of definitive Receipts, the Depositary, upon the written order of the Company, delivered in compliance with Section 2.02, shall execute and deliver temporary Receipts which may be printed, lithographed, typewritten, mimeographed or otherwise substantially of the tenor of the definitive Receipts in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the persons executing such Receipts may determine, as evidenced by their execution of such Receipts. If temporary Receipts are issued, the Company and the Depositary will cause definitive Receipts to be prepared without unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts shall be exchangeable for definitive Receipts upon surrender of the temporary Receipts at the Corporate Office or such other offices, if any, as the Depositary may designate, without charge to the holder. Upon surrender for cancellation of any one or more temporary Receipts, the Depositary shall execute and deliver in exchange therefor definitive Receipts representing the same number of Depositary Shares as represented by the surrendered temporary Receipt or Receipts. Such exchange shall be made at the Company's expense and without any charge therefor. Until so exchanged, the temporary Receipts shall in all respects be entitled to the same benefits under this Deposit Agreement, and with respect to the Preferred Stock deposited, as definitive Receipts.

DEPOSIT AGREEMENT

        This DEPOSIT AGREEMENT is made and entered into as of April 21, 2003 by and among NEW PLAN EXCEL REALTY TRUST, INC., a Maryland corporation, EQUISERVE TRUST COMPANY, N.A., a national banking association ("EquiServe Trust Company, N.A."), and EQUISERVE, INC., a Delaware corporation ("EquiServe, Inc."), and all holders from time to time of Receipts (as hereinafter defined) issued hereunder. EquiServe Trust Company, N.A. and EquiServe, Inc. may be referred to individually and collectively herein as "Depositary."

WITNESSETH:

        WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of the Company's Preferred Stock (as hereinafter defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of the Receipts evidencing Depositary Shares representing a fractional interest in the Preferred Stock deposited; and

        WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement;

        NOW, THEREFORE, in consideration of the premises contained herein, it is agreed by and among the parties hereto as follows:

Article I

DEFINITIONS

The following definitions shall apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit Agreement and the Receipts:

        SECTION 1.01. "Articles of Incorporation" shall mean the Articles of Amendment and Restatement of Articles of Incorporation, as the same may be amended and supplemented, of the Company, as amended and supplemented from time to time.

        SECTION 1.02. "Articles Supplementary" shall mean the Articles Supplementary Classifying 805,000 Shares of Preferred Stock as 7.625% Series E Cumulative Redeemable Preferred Stock filed with the Secretary of State of the State of Maryland establishing the Preferred Stock as a series of Preferred Stock of the Company.

        SECTION 1.03. "Common Stock" shall mean shares of the Company's common stock, $.01 par value per share.

        SECTION 1.04. "Company" shall mean New Plan Excel Realty Trust, Inc., a Maryland corporation, and its successors.

        SECTION 1.05. "Corporate Office" shall mean the corporate office of the Depositary at which at any particular time its business in respect of matters governed by this Deposit Agreement shall be administered, which at the date of this Deposit Agreement is located at 150 Royall Street, Canton, Massachusetts 02021.

        SECTION 1.06. "Deposit Agreement" shall mean this agreement, as the same may be amended, modified or supplemented from time to time.

2

        SECTION 1.07. "Depositary" shall mean EquiServe Trust Company, N.A. and EquiServe, Inc., in each case, a company or corporation having its principal office in the United States, and any successor as depositary hereunder.

        SECTION 1.08. "Depositary Share" shall mean a ¹/10 fractional interest of a share of Preferred Stock deposited with the Depositary hereunder and the same proportionate interest in any and all other property received by the Depositary in respect of such share of Preferred Stock and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. Subject to the terms of this Deposit Agreement, each owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of the Preferred Stock represented by such Depositary Share, including the dividend and distribution, voting, redemption and liquidation rights contained in the Articles Supplementary.

        SECTION 1.09. "Depositary's Agent" shall mean one or more agents appointed by the Depositary as provided, and for the purposes specified, in Section 7.05.

        SECTION 1.10. "EquiServe, Inc." shall mean EquiServe, Inc., a Delaware corporation, and any successor as depositary hereunder.

        SECTION 1.11. "Ownership Limit" shall have the meaning set forth in Article VII of the Company's Articles of Incorporation.

        SECTION 1.12. "Preferred Stock" shall mean shares of the Company's 7.625% Series E Cumulative Redeemable Preferred Stock, $.01 par value per share, heretofore validly issued, fully paid and non-assessable.

        SECTION 1.13. "Receipt" shall mean a Depositary Receipt issued hereunder to evidence one or more Depositary Shares, whether in definitive or temporary form, substantially in the form set forth as Exhibit A hereto.

        SECTION 1.14. "record date" shall mean the date fixed pursuant to Section 4.04.

        SECTION 1.15. "record holder" or "holder" as applied to a Receipt shall mean the person in whose name a Receipt is registered on the books maintained by the Depositary for such purpose.

        SECTION 1.16. "Registrar" shall mean EquiServe Trust Company, N.A., EquiServe, Inc. or any bank or trust company appointed to register ownership and transfers of Receipts or the deposited Preferred Stock, as the case may be, as herein provided.

        SECTION 1.17. "Securities Act" shall mean the Securities Act of 1933, as amended.

        SECTION 1.18. "Transfer Agent" shall mean EquiServe Trust Company, N.A., EquiServe, Inc. or any bank or trust company appointed to transfer the Receipts or the deposited Preferred Stock, as the case may be, as herein provided.

Article II

FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, EXECUTION
AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS

        Section 2.01.    Form and Transferability of Receipts.    Definitive Receipts shall be engraved or printed or lithographed with steel-engraved borders and underlying tint and shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided. Pending the preparation of definitive Receipts, the Depositary, upon the written order of the Company, delivered in compliance with Section 2.02, shall execute and deliver temporary Receipts which may be printed, lithographed, typewritten, mimeographed or otherwise substantially of the tenor of the definitive Receipts in lieu of which they

DEPOSIT AGREEMENT

     DEPOSIT AGREEMENT, dated as of October__, 2002, among BOYKIN LODGING COMPANY, an Ohio corporation, NATIONAL CITY BANK, a national banking association, as Depositary, and all holders from time to time of Receipts (as hereinafter defined) issued hereunder.

WITNESSETH:

     WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of the Companys Preferred Shares (as hereinafter defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of the Receipts evidencing Depositary Shares representing a fractional interest in the Preferred Shares deposited; and

     WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement;

     NOW, THEREFORE, in consideration of the premises contained herein, it is agreed by and among the parties hereto as follows:

ARTICLE I
DEFINITIONS

     The following definitions shall apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit Agreement and the Receipts:

     SECTION 1.01. Amendment to the Articles shall mean the Amendment to the Amended and Restated Articles of Incorporation of the Company, as amended from time to time, establishing the 10 1/2% Class A Cumulative Preferred Shares, Series 2002-A as Preferred Shares of the Company.

     SECTION 1.02. Articles of Incorporation shall mean the Amended and Restated Articles of Incorporation, as amended from time to time, of the Company.

     SECTION 1.03. Common Shares shall mean the Companys Common Shares, without par value.

     SECTION 1.04. Company shall mean Boykin Lodging Company, an Ohio corporation, and its successors.

     SECTION 1.05. Corporate Office shall mean the corporate office of the Depositary at which at any particular time its business in respect of matters governed by this Deposit Agreement shall be administered, which at the date of this Deposit Agreement is located at 1900 East Ninth Street, Cleveland, Ohio 44114.

     SECTION 1.06. Deposit Agreement shall mean this agreement, as the same may be amended, modified or supplemented from time to time.

     SECTION 1.07. Depositary shall mean National City Bank, a national banking association having its principal office in the United states and having a combined capital and surplus of at least $50,000,000, and any successor as depositary hereunder.

     SECTION 1.08. Depositary Share shall mean a fractional interest of 1/10 of a Preferred Share deposited with the Depositary hereunder and the same proportionate interest in any and all other property received by the Depositary in respect of such Preferred Share and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. Subject to the terms of this Deposit Agreement, each owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of the Preferred Share represented by such Depositary Share, including the dividend, voting, redemption, conversion and liquidation rights contained in the Amendment to the Articles and the Articles of Incorporation.

     SECTION 1.09. Depositarys Agent shall mean an agent appointed by the Depositary as provided, and for the purposes specified, in Section 7.05.

     SECTION 1.10. Preferred Shares shall mean the Companys 10 1/2% Class A Cumulative Preferred Shares, Series 2002-A, without par value, heretofore validly issued, fully paid and nonassessable.

     SECTION 1.11. Receipt shall mean a Depositary Receipt issued hereunder to evidence one or more Depositary Shares, whether in definitive or temporary form, substantially in the form set forth as Exhibit A hereto.

     SECTION 1.12. record date shall mean the date fixed pursuant to Section 4.04.

     SECTION 1.13. record holder or holder as applied to a Receipt shall mean the person in whose name a Receipt is registered on the books maintained by the Depositary for such purpose.

     SECTION 1.14. Registrar shall mean National City Bank or any bank or trust company appointed to register ownership and transfers of Receipts, the deposited Preferred Shares or Shares-in-Trust, as the case may be, as herein provided.

     SECTION 1.15. Securities Act shall mean the Securities Act of 1933, as amended.

     SECTION 1.16. Shares-in-Trust shall mean any Preferred Shares designated as Shares-in-Trust pursuant to the Articles of Incorporation.

     SECTION 1.17. Transfer Agent shall mean National City Bank or any bank or trust company appointed to transfer the Receipts, or the deposited Preferred Shares, as the case may be, as herein provided.

ARTICLE II

FORM OF RECEIPTS; DEPOSIT OF PREFERRED SHARES;
EXECUTION AND DELIVERY, TRANSFER,
SURRENDER AND REDEMPTION OF RECEIPTS

     SECTION 2.01. Form and Transferability of Receipts. (a) The definitive Receipt shall be engraved or printed or lithographed with steel-engraved borders and underlying tint and shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, with appropriate


264475

PS BUSINESS PARKS, INC.

AMERICAN STOCK TRANSFER & TRUST

COMPANY, AS DEPOSITARY

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

RELATING TO SERIES K PREFERRED STOCK

DEPOSIT AGREEMENT

Dated as of June 24, 2004

Table of Contents

Form of Receipts, Deposit of Stock,

Execution and Delivery, Transfer,

Surrender and Redemption of  . . .

PS BUSINESS PARKS, INC.

AMERICAN STOCK TRANSFER & TRUST

COMPANY, AS DEPOSITARY

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

RELATING TO SERIES K PREFERRED STOCK

DEPOSIT AGREEMENT

Dated as of June 24, 2004

Table of Contents

Form of Receipts, Deposit of Stock,

Execution and Delivery, Transfer,

Surrender and Redemption of  . . .

PS BUSINESS PARKS, INC.

AMERICAN STOCK TRANSFER & TRUST

COMPANY, AS DEPOSITARY

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

RELATING TO SERIES I PREFERRED STOCK

DEPOSIT AGREEMENT

Dated as of March 31, 2004

Table of Contents

PS BUSINESS PARKS, INC.

AMERICAN STOCK TRANSFER & TRUST

COMPANY, AS DEPOSITARY

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

RELATING TO SERIES I PREFERRED STOCK

DEPOSIT AGREEMENT

Dated as of March 31, 2004

Table of Contents

PS BUSINESS PARKS, INC.

AMERICAN STOCK TRANSFER & TRUST

COMPANY, AS DEPOSITARY

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

RELATING TO SERIES H PREFERRED STOCK

DEPOSIT AGREEMENT

Dated as of January 15, 2004

Table of Contents

ARTICLE I

Definitions

ARTICLE II