SUPPLEMENTAL REGISTRATION RIGHTS AND LOCK-UP AGREEMENT
THIS SUPPLEMENTAL REGISTRATION RIGHTS AND LOCK-UP AGREEMENT (this "Agreement") is
made and entered into as of August 20, 1997, by and among COLONIAL PROPERTIES TRUST, an Alabama
real estate investment trust (the "Company"), Colonial Realty Limited Partnership, a Delaware limited partnership
(the "Operating Partnership"), and James K. Lowder and Thomas H. Lowder (collectively, the "Lowders").
WHEREAS, on September 29, 1993, the Company, the Lowders and certain other parties entered into a
Registration Rights and Lock-up Agreement (the "Initial Agreement") pursuant to which the Company granted to
certain holders of Units (as defined in the Initial Agreement) of the Operating Partnership certain registration
rights, and such holders agreed to certain lock-up arrangements;
WHEREAS, on the date hereof, each of the Lowders will acquire 10,822 Units (the "Additional Units") in
connection with the purchase by the Operating Partnership of certain real estate known as Inverness Phase III;
WHEREAS, the parties hereto have agreed that, except as stated herein, they and the Additional Units shall be
governed by and subject to the Initial Agreement.
NOW, THEREFORE, the parties hereto, in consideration of the foregoing, the mutual covenants and agreements
set forth herein and other good and valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, agree as follows:
1(a) Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to
them in the Initial Agreement.
1(b) Except as otherwise provided herein, the Lowders and the Company shall have all of the rights and
obligations with respect to the Additional Units as are provided for in the Initial Agreement with respect to the
Common Shares and Units expressly referred to therein. Nothing in this Agreement shall be deemed to amend,
waive, supplement, or otherwise affect the terms of the Initia