Re:	Second Amended and Restated Revolving Loan Agreement, as amended, dated November 14, 2006 (the “Agreement”) among AvalonBay Communities, Inc. (“AvalonBay” or “Company”), and JP Morgan Chase, Bank of America, Morgan Stanley, Wells Fargo, DeutscheBank and other Banks

 

As provided for in Agreement, AvalonBay is providing notice of its intent to exercise the Extension Option provision set forth in Section 2.18 of the Agreement.  The Company is electing to extend the original maturity date of the Agreement by one (1) year.  The extension fee of 0.10% or $1,000,000 has been submitted via wire transfer pursuant to the following wire instructions received via email from Mark Dalton.