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Amendment No. 1 To Amended And Restated Advisory Contract

This is an actual contract by Saul B F Real Estate Investment Trust.

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Sectors: Banking
Effective Date: April 03, 2006
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Exhibit 10(a)

AMENDMENT NO. 1

AMENDED AND RESTATED ADVISORY CONTRACT THIS AMENDMENT NO. 1 is made as of April 3, 2006, between B. F. Saul Company (the " Advisor) and B. F. Saul Real Estate Investment Trust (the " Trust" ).

WHEREAS, the Advisor and the Trust entered into an Amended and Restated Advisory Contract (the ' Contract" ) effective as of October 1, 2005, which the Advisor and the Trust now wish to amend in certain respects, in accordance with and as contempl
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