Common use of Acknowledgement of Lease Clause in Contracts

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the Inn, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn and (v) the payments of principal, interest and other sums payable under the Loan Agreement (collectively, "Ownership Costs"). Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost or a cost of Lessee, (ii) to require that Ownership Costs be paid from funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (i) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement and (ii) Manager need only look to Lessee to pay operating costs of the Inn and other such obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn Hotel from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement; however, Manager agrees to operate the Hotel in compliance with the terms of the Lease to the extent that such terms do not conflict with the terms of the Management Agreement or impose upon Manager any additional obligations beyond those expressly set forth in the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the Inn, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn and (v) the payments of principal, interest and other sums payable under the Loan Agreement (collectively, "Ownership Costs"). Manager shall have no duty, obligation or liability to Lessor or Lessee to (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost a cost of Lessor or a cost of Lessee, Lessee or (ii) to require that Ownership Costs any costs or expenses of Lessor be paid from funds which that can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which that can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (ix) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement or the Lease and (iiy) except as otherwise specifically provided in this Agreement, Manager need shall look only look to Lessee to pay operating costs of the Inn Hotel and other such “Owner” obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn Hotel from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. A. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the InnHotel, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn Hotel and (v) the payments of principal, interest and other sums payable under the Loan Agreement (collectively, "“Ownership Costs"”). Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost or a cost of Lessee, (ii) to require that Ownership Costs be paid from funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (i) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement and (ii) Manager need only look to Lessee to pay operating costs of the Inn Hotel and other such obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn Hotel from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. A. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the InnHotel, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn Hotel and (v) the payments of principal, interest and other sums payable under the Loan Agreement (collectively, "“Ownership Costs"”). Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost or a cost of Lessee, (ii) to require that Ownership Costs be paid from funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (i) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement and (ii) Manager need only look to Lessee to pay operating costs of the Inn Hotel and other such obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to ------------------------ the lease of the Inn Inns from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. The Lease shall not be construed to impose any --------- additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the InnInns, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn Inns and (v) the payments of principal, interest and other sums payable under the Loan Agreement (collectively, "Ownership Costs"). Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost or a cost of Lessee, (ii) to require that Ownership Costs be paid from funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (i) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement and (ii) Manager need only look to Lessee to pay operating costs of the Inn Inns and other such obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults by Lessee under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, land and building and personal property taxes and assessments applicable to the Inn, (ii) premiums and charges for the casualty insurance coverages insurancecoverages specified in the Management Agreement Agreement, (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn and (v) the payments of principal, interest and other sums payable under any Mortgage. Notwithstanding the Loan Agreement (collectivelyforegoing, "Ownership Costs"). it is understood and agreed by Lessor and Lessee that Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required paid or payable by Manager under the Management Agreement is a cost to be paid by Manager hereunder is an Ownership Cost Lessor under the Lease (“Lessor Cost”) or a cost of Lesseeto be paid by Lessee under the Lease (“Lessee Cost”), or (ii) to require that Ownership pay costs identified as Lessor Costs be paid from out of funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by pay Lessee be paid from Costs out of funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (ix) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement Lease and (iiy) Manager need only look to Lessee to pay operating costs and satisfy all of the Inn and other such obligations of “Owner” under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn Hotel from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. Lease. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the InnHotel, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn Hotel and (v) the payments of principal, interest and other sums payable under the Loan Agreement (collectively, "“Ownership Costs"”). Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost or a cost of Lessee, (ii) to require that Ownership Costs be paid from funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (i) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement and (ii) Manager need only look to Lessee to pay operating costs of the Inn Hotel and other such obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of the Inn from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults by Lessee under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, land and building and personal property taxes and assessments applicable to the Inn, (ii) premiums and charges for the casualty insurance insurance-coverages specified in the Management Agreement Agreement, (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn and (v) the payments of principal, interest and other sums payable under any Mortgage. Notwithstanding the Loan Agreement (collectivelyforegoing, "Ownership Costs"). it is understood and agreed by Lessor and Lessee that Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required paid or payable by Manager under the Management Agreement is a cost to be paid by Manager hereunder is an Ownership Cost Lessor under the Lease (“Lessor Cost”) or a cost of Lesseeto be paid by Lessee under the Lease (“Lessee Cost”), or (ii) to require that Ownership pay costs identified as Lessor Costs be paid from out of funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by pay Lessee be paid from Costs out of funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (ix) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement Lease and (iiy) Manager need only look to Lessee to pay operating costs and satisfy all of the Inn and other such obligations of “Owner” under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.

Acknowledgement of Lease. Manager hereby acknowledges and ------------------------ consents to the lease of the Inn Inns from Lessor to Lessee pursuant to the Lease in the form attached hereto as Exhibit B. The Lease shall not be construed to impose --------- any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. Manager acknowledges that Lessor and Lessee have, pursuant to the terms of the Lease, agreed that Lessor shall pay, among other things (i) land, building and personal property taxes and assessments applicable to the InnInns, (ii) premiums and charges for the casualty insurance coverages specified in the Management Agreement (iii) expenditures for capital replacements, (iv) expenditures for maintenance and repair of underground utilities and structural elements of the Inn Inns and (v) the payments of principal, interest and other sums payable under the Loan Agreement First Mortgage (collectively, "Ownership Costs"). Manager shall have no duty, obligation or liability to Lessor or Lessee (i) to make any determination as to whether any expense required to be paid by Manager hereunder is an Ownership Cost or a cost of Lessee, (ii) to require that Ownership Costs be paid from funds which can be identified as belonging to Lessor, or that other costs and expenses required to be paid by Lessee be paid from funds which can be identified as belonging to Lessee; it being the intent of the parties to this Agreement that (i) Lessee and Lessor shall look only to each other and not to Manager with respect to moneys that may be owed one to the other under the Management Agreement and (ii) Manager need only look to Lessee to pay operating costs of the Inn Inns and other such obligations under the Management Agreement, including, without limitation, those designated herein as Ownership Costs.