EXHIBIT 10.6
HOLDBACK AND SECURITY AGREEMENT
THIS HOLDBACK AND SECURITY AGREEMENT (this "Agreement") is entered into
as of this 15th day of June, 2001, by and among (i) Marriott International,
Inc., a Delaware corporation ("Marriott"), (ii) St. Louis Airport Hotel, L.L.C.,
a Delaware limited liability company, , Nashville Airport Hotel, L.L.C. a
Delaware limited liability company, Residence Inn By Marriott, Inc., a Delaware
corporation, Courtyard Management Corporation, a Delaware corporation,
SpringHill SMC Corporation, a Delaware corporation and TownePlace Management
Corporation, a Delaware corporation (each, a "Seller" and collectively, the
"Sellers"), (iii) Marriott Hotel Services, Inc., a Delaware corporation ("MHSI"
and together with certain of the Sellers, collectively, the "Managers"), (iv)
CR14 Tenant Corporation, a Delaware corporation ("CR14") and CRTM17 Tenant
Corporation, a Delaware corporation ("CRTM17") (CR14 and CRTM17, collectively,
the "Old Tenants"), (v) HPT TRS MI-135, INC., a Delaware corporation (the "New
Tenant"), and (vi) HPTMI Properties Trust, a Maryland real estate investment
trust ("HPTMI") and HPTMI Hawaii, Inc., a Delaware corporation ("Kauai Owner")
(HPTMI and Kauai Owner, collectively, the "Landlords").
RECITALS:
A. HPTMI, as landlord, and CRTM17, as tenant, are parties to those
seventeen (17) certain leases set forth on Exhibit X-0 xxxxxxxx xxxxxx (xxx "X0
Existing Leases"), with respect to the properties referenced therein.
B. HPTMI, as landlord, and CR14, as tenant, are parties to those
fourteen (14) certain leases set forth on Exhibit X-0 xxxxxxxx xxxxxx (xxx "X0
Existing Leases"), with respect to the properties referenced therein. (The T3
Existing Leases and the T1 Existing Leases, as each have been amended as of the
date hereof, are referred to, collectively, as the "Existing Leases.")
C. Pursuant to the terms of the Existing Leases, the Sellers have
deposited the total sum of Thirty Six Million Two Hundred Three Thousand Three
Hundred One Dollars ($36,203,301.00), as the same may be drawn down from time to
time pursuant to this Agreement, and replenished from time to time pursuant to
the Pooling Agreement and the Management Agreements (the "Holdback") with HPTMI,
as security for the obligations of the Old Tenants under the Existing Leases.
The Old Tenants and the Sellers are each wholly-owned subsidiaries of Marriott,
and pursuant to this Agreement, are assigning to Marriott all of their right,
title and interest in the Holdback.
D. Pursuant to the terms of an Agreement to Assign, Release, Franchise
and Manage (the "Agreement to Lease"), the Old Tenants have agreed to assign the
Old Leases to the New Tenant, and the New Tenant has agreed to accept such
assignment and assume the obligations of the Old Tenants thereunder, on the
terms and conditions and at the times set forth in the Agreement to Lease. At
the time that each such Existing Lease
is assigned from the applicable Old Tenant to the New Tenant, such Existing
Lease shall be amended by HPTMI and the New Tenant pursuant to the terms of the
Agreement to Lease, and such Existing Lease, as so amended, and as the same may
be further amended from time to time, shall thereafter no longer constitute an
Existing Lease but such lease shall thereafter constitute a "Converted Lease".
E. Pursuant to the Agreement to Lease, the Landlords have also agreed
to lease four (4) other properties (the "New Portfolio Properties") to the New
Tenant, and the New Tenant has agreed to lease each of the New Portfolio
Properties from the Landlords, on the terms and conditions and at the times set
forth in the Agreement to Lease. The New Portfolio Properties will be leased
from the Landlords to the New Tenant pursuant to leases which will be
substantially similar in form (but not economic terms) to the Converted Leases
(the "New Portfolio Property Leases"). The properties which are subjected to the
Converted Leases and the New Portfolio Property Leases shall collectively
constitute the "Portfolio Properties."
F. Marriott has agreed that the Holdback shall secure (i) the
obligations of the Old Tenants under the Existing Leases and the Agreement to
Lease, and (ii) the obligations of the Managers under the Management Agreements,
in each instance subject to the terms and conditions set forth herein.
G. Nashville Airport Hotel, L.L.C. is a party to this instrument as a
Seller despite all of the ownership interests therein having been transferred to
HPTMI due to the inadvertent failure of the parties to assign such entity's
right, title and interest in and to a portion of such Holdback to an Affiliate
of Marriott at the time of such transfer.
H. Capitalized terms used but not otherwise defined in this Agreement
shall have the meaning ascribed to such terms in that certain Pooling Agreement
entered into of even date herewith (the "Pooling Agreement") among Marriott,
certain Affiliates of Marriott and New Tenant, and, if such terms are not
defined in the Pooling Agreement, in the Management Agreements.
NOW, THEREFORE, in consideration of the foregoing, and for other good
and valuable consideration, the parties hereto agree as follows:
1. The Sellers and the Old Tenants hereby assign to Marriott all of
their right, title and interest in and to the Holdback. Marriott, the Sellers
and the Old Tenants each represent and warrant that the Holdback has not
previously been assigned, transferred or encumbered by any of them or their
Affiliates.
2. The Landlords and the New Tenant acknowledge that as of the date
hereof they hereby transfer all of their respective right, title and interest in
the entire amount of the Holdback to the New Tenant, as collateral agent for
both of them, and that from and after the date hereof, the New Tenant shall hold
the Holdback pursuant to the terms of this Agreement. After all of the Existing
Leases have been converted to Converted
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Leases pursuant to the Agreement to Lease, the New Tenant shall hold the
Holdback for itself, subject to the terms and conditions hereof.
3. The New Tenant hereby assigns its right, title and interest in and
to the Holdback to the Landlords as security for the New Tenant's obligations
under the Converted Leases as the same exist from time to time.
4. Marriott, the Managers, the Old Tenants, Landlord and the New Tenant
acknowledge and agree that the Holdback constitutes security for (i) the
faithful observance and performance by the Old Tenants of all the terms,
covenants and conditions of the Existing Leases to be observed and performed by
the Old Tenants, and (ii) the faithful observance and performance by the
Managers of all the terms, covenants and conditions of the Management Agreements
to be observed and performed by the Managers, including, without limitation: (a)
the payment to New Tenant of Aggregate Tenant's First Priority on the first day
of each Portfolio Accounting Period, and (b) the payment to New Tenant of
Aggregate Tenant's Second Priority and Aggregate Tenant's Third Priority
pursuant to each Management Agreement, in all of the foregoing instances
described in (a) or (b), regardless of the adequacy of Aggregate Gross Revenue
or Aggregate Operating Profit for any Portfolio Accounting Period for such
period (all of the foregoing, collectively, the "Secured Obligations"). Without
limiting the generality of the foregoing, in lieu of accruing the Secured
Obligations pursuant to the Pooling Agreement, the New Tenant shall be entitled
to offset the Secured Obligations or any other damages in connection therewith
against the Holdback. Marriott hereby grants to Landlord and the New Tenant a
first priority security interest in the Holdback for such purpose. The Landlords
and the New Tenant shall have the option to elect, in their sole discretion,
whether to apply funds from the Holdback with respect to any of the Secured
Obligations.
5. Notwithstanding anything to the contrary in this Agreement, if (a) a
Management Agreement is terminated with respect to a Hotel in accordance with
its terms other than in connection with a Manager Default, or (b) a Tenant
Deconsolidation Event shall occur under the Pooling Agreement with respect to a
Hotel, the New Tenant shall return to Marriott the present value of a portion of
the Holdback, which amount shall be obtained by multiplying the then balance of
the Holdback by a fraction, the numerator of which is the annual Tenant's First
Priority for such Hotel, and the denominator of which is the annual Aggregate
Tenant's First Priority immediately prior to such termination or
deconsolidation. Subsequently, Marriott shall be entitled to the present value
of amounts which are or were to be paid under such Hotel's Management Agreement
to replenish the Holdback, and the balance of such payments shall be the
property of the New Tenant. Such present values shall be calculated using a
discount rate based on the interest rate published in The Wall Street Journal
for U.S. Treasury Obligations having a maturity closest in time to the last day
of the then-current Term of the applicable Management Agreement (including, for
this purpose, all exercised Renewal Terms) and shall assume a payment on the
last day of the Term (after giving effect to any exercised Renewal Term).
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6. Upon a Kauai Deconsolidation Event, a portion of the then balance of
the Holdback (the "Kauai Holdback") equal to the amount obtained by multiplying
such balance by a fraction, the numerator of which is the annual Tenant's First
Priority with respect to the Kauai Hotel and the denominator of which is the
annual Aggregate Tenant's First Priority immediately prior to such Kauai
Deconsolidation Event, shall be held as security solely for the Secured
Obligations pertaining to the Kauai Hotel. Thereafter, amounts payable under the
Management Agreement for the Kauai Hotel to replenish the Holdback shall be
added to the Kauai Holdback. The parties, at the request of any of them, shall
enter into such separate holdback agreements and amendments hereof as shall be
reasonably requested to give effect to and document the foregoing.
7. Any interest earned on account of the Holdback shall be for the
benefit of the New Tenant. Hospitality Properties Trust, a Maryland real estate
investment trust, shall guaranty the obligation of the New Tenant or any
Affiliate to return all or any portion of the Holdback to Marriott as and when
due pursuant to the terms of this Agreement.
8. Notwithstanding anything contained herein to the contrary, none of
Landlord and the New Tenant shall appropriate or apply any portion of the
Holdback until it shall have exhausted any rights and remedies available to it
pursuant to that certain Guaranty Agreement from Marriott to the New Tenant and
that certain Limited Rent Guaranty Agreement from Marriott to Landlord, both of
even date herewith.
9. Any and all notices, demands, consents, approvals, offers, elections
and other communications required or permitted under this Agreement shall be
deemed adequately given if in writing and the same shall be delivered either in
hand, by telecopier with written acknowledgment of receipt, or by mail or
Federal Express or similar expedited commercial carrier, addressed to the
recipient of the notice, postpaid and registered or certified with return
receipt requested (if by mail), or with all freight charges prepaid (if by
Federal Express or similar carrier).
All notices required or permitted to be sent hereunder shall be deemed
to have been given for all purposes of this Agreement upon the date of
acknowledged receipt, in the case of a notice by telecopier, and, in all other
cases, upon the date of receipt or refusal, except that whenever under this
Agreement a notice is either received on a day which is not a business day or is
required to be delivered on or before a specific day which is not a business
day, the day of receipt or required delivery shall automatically be extended to
the next business day.
All such notices shall be addressed:
if to Marriott, or Marriott International, Inc.
any Affiliate: 00000 Xxxxxxxx Xxxx, Xxxx. 52-924.11
Xxxxxxxx, Xxxxxxxx 00000
Attn: Treasurer
Telecopier No. (000) 000-0000
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with a copy to: Marriott International, Inc.
00000 Xxxxxxxx Xxxx, Xxxx. 52-923.00
Xxxxxxxx, Xxxxxxxx 00000
Attn: Lodging Operations Attorney
Telecopier No. (000) 000-0000
and a copy to: Marriott International, Inc.
00000 Xxxxxxxx Xxxx, Xxxx. 52-923.00
Xxxxxxxx, Xxxxxxxx 00000
Attn: Lodging - Senior Vice President, Finance
Telecopier No. (000) 000-0000
and a copy to: Xxxxxxx, Xxxxxxx and Xxxxxx, LLP
1800 Mercantile Bank and Trust Xxxxxxxx
Xxx Xxxxxxx Xxxxx
Xxxxxxxxx, Xxxxxxxx 00000
Attn: Xxxxx X. Xxxxxx, Esq.
Telecopier No. (000) 000-0000
if to New Tenant, HPT TRS MI-135, INC.
or any Affiliate: 000 Xxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Attn: President
Telecopier: (000) 000-0000
with a copy to: Xxxxxxxx & Worcester LLP
Xxx Xxxx Xxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Attn: Xxxxxxxxx X. Xxxxxxxxxx, Esq.
Sander X. Xxx, Esquire
Telecopier No. (000) 000-0000
By notice given as herein provided the parties hereto and their
respective successors and assigns shall have the right from time to time and at
any time while this Agreement is in effect to change their respective addresses
effective upon receipt by the other party of such notice and each shall have the
right to specify as its address any other address within the United States of
America.
10. This Agreement shall be interpreted, construed, applied and
enforced in accordance with the laws of the State of Maryland applicable to
contracts between residents of Maryland which are to be performed entirely
within Maryland, regardless of (i) where any such instrument is executed or
delivered; or (ii) where any payment or other performance required by any such
instrument is made or required to be made; or (iii) where any breach of any
provision of any such instrument occurs, or any cause of action otherwise
accrues; or (iv) where any action or other proceeding is instituted or
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pending; or (v) the nationality, citizenship, domicile, principal place of
business, or jurisdiction of organization or domestication of any party; or (vi)
whether the laws of the forum jurisdiction otherwise would apply the laws of a
jurisdiction other than the State of Maryland; or (vii) any combination of the
foregoing. The parties acknowledge, consent and agree that the United States
District Court of the District of Maryland and any court of competent
jurisdiction in the State of Maryland shall have jurisdiction in any proceeding
instituted to enforce this Agreement or any provision hereof and any objections
to venue are hereby waived.
11. The rights, powers, privileges, and discretions (hereinafter
referred to as the "rights") to which the parties may be entitled hereunder
shall inure to the benefit of each of their respective successors and permitted
assigns. All the rights of the parties herein are cumulative and not alternative
and may be enforced successively or concurrently. Failure of either party to
exercise any of its rights shall not be deemed a waiver thereof, and no waiver
of any of a party's rights shall be deemed to apply to any other rights. The
terms, covenants, and conditions of or imposed upon each party herein shall be
binding upon the successors and assigns of such party.
12. In case any provision (or any part of any provision) contained in
this Agreement shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalid, illegal or unenforceable provision
shall not affect any other provision (or remaining part of the affected
provision) of this Agreement, but this Agreement shall be construed as if such
invalid, illegal or unenforceable provision had not been contained herein.
13. When used herein, the singular shall include the plural; the plural
the singular; and the use of any gender shall be applicable to all genders.
14. Time is of the essence in the performance of the obligations and
undertakings of the parties hereto.
15. The captions appearing in this Agreement are inserted only as a
matter of convenience and do not define, limit, construe or describe the scope
or intent of the sections of this Agreement nor in any way affect this
Agreement.
16. No remedy herein conferred upon a party hereto is intended to be
exclusive of any other remedy, and each and every remedy shall be cumulative and
shall be in addition to every other remedy given hereunder or now or hereafter
existing at law or in equity or by statute or otherwise.
17. Each party hereto represents and warrants to the other that this
Agreement has been duly authorized, executed and delivered by the representing
party, and constitutes the binding and enforceable obligation of such party
subject to (i) applicable bankruptcy, insolvency, reorganization, moratorium,
and other laws affecting the rights of creditors generally; and (ii) the
exercise of judicial discretion in accordance with general principles of equity.
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18. The parties agree that this Agreement may be signed in
counterparts, each of which shall constitute but one and the same document.
19. This Agreement constitutes the entire agreement between the parties
hereto with respect to the subject matter hereof and shall supersede and take
the place of any other instruments purporting to be an agreement of the parties
hereto relating to the subject matter hereof.
[Signatures appear on the following page.]
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IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement with the intention of creating an instrument under seal.
MARRIOTT:
WITNESS: MARRIOTT INTERNATIONAL, INC.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Authorized Signatory
SELLERS:
WITNESS: ST. LOUIS HOTEL, L.L.C.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Authorized Signatory
WITNESS: NASHVILLE AIRPORT HOTEL, L.L.C.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxx X. Xxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxx X. Xxxxxx
Title: Authorized Signatory
WITNESS: RESIDENCE INN BY MARRIOTT, INC.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
WITNESS: COURTYARD MANAGEMENT CORPORATION
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
WITNESS: SPRINGHILL SMC CORPORATION
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
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WITNESS: TOWNEPLACE MANAGEMENT CORPORATION
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
MHSI:
WITNESS: MARRIOTT HOTEL SERVICES, INC.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Authorized Signatory
OLD TENANTS:
WITNESS: CR14 TENANT CORPORATION
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Authorized Signatory
WITNESS: CRTM17 TENANT CORPORATION
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxxx
Title: Authorized Signatory
NEW TENANT:
WITNESS: HPT TRS MI-135, INC.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxx X. Xxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxx X. Xxxxxx
Title: Vice President
LANDLORDS:
WITNESS: HPTMI PROPERTIES TRUST
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxx X. Xxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxx X. Xxxxxx
Title: President
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WITNESS: HPTMI HAWAII, INC.
/s/ Xxxx X. Xxxxxxx By: /s/ Xxxx X. Xxxxxx (SEAL)
Name: Xxxx X. Xxxxxxx Name: Xxxx X. Xxxxxx
Title: President
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EXHIBIT A-1
T3 Old Leases
1. Lease agreement dated December 29, 1998 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Atlanta/Norcross, Georgia -
TownePlace)
2. Lease agreement dated December 29, 1998 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (St. Louis, Missouri - MAR)
3. Lease agreement dated December 29, 1998 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Nashville, Tennessee - MAR)
4. Lease agreement dated December 29, 1998 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Norfolk/Newport News, Virginia -
TownePlace)
5. Lease agreement dated January 22, 1999 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Atlanta/Northlake, Georgia -
TownePlace)
6. Lease agreement dated January 22, 199 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Richmond/Northwest, Virginia -
TownePlace)
7. Lease agreement dated January 22, 1999 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Virginia Beach, Virginia -
TownePlace)
8. Lease agreement dated February 5, 1999 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Fairfax/Chantilly, Virginia -
TownePlace)
9. Lease agreement dated March 26, 1999 between HPTMI III Properties Trust
and CRTM17 Tenant Corporation (Raleigh Airport, North Carolina -
Residence Inn)
10. Lease agreement dated March 26, 1999 between HPTMI III Properties Trust
and CRTM17 Tenant Corporation (Falls Church, Virginia - TownePlace)
11. Lease agreement dated April 16, 1999 between HPTMI III Properties Trust
and CRTM17 Tenant Corporation (Charleston, South Carolina - Courtyard)
12. Lease agreement dated May 21, 1999 between HPTMI III Properties Trust
and CRTM17 Tenant Corporation (Chicago/Waukegan, Illinois - Residence
Inn)
13. Lease agreement dated May 21, 1999 between HPTMI III Properties Trust
and CRTM17 Tenant Corporation (Raleigh/Cary, North Carolina - Residence
Inn)
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EXHIBIT A-1, continued
T3 Old Leases
14. Lease agreement dated May 28, 1999 between HPTMI III Properties Trust
and CRTM17 Tenant Corporation (Chicago/West Dundee, Illinois -
TownePlace)
15. Lease agreement dated October 15, 1999 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Detroit/Novi, Michigan -
TownePlace)
16. Lease agreement dated November 19, 1999 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Chicago/West Dundee, Illinois -
Courtyard)
17. Lease agreement dated December 17, 1999 between HPTMI III Properties
Trust and CRTM17 Tenant Corporation (Detroit/Novi, Michigan -
Courtyard)
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EXHIBIT A-2
T1 Old Leases
1. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Fresno, California - Residence Inn)
2. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Reno, Nevada - Residence Inn)
3. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Dallas/Richardson, Texas - Residence Inn)
4. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Fort Worth/Fossil Creek, Texas - Residence
Inn)
5. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Fort Worth/Fossil Creek, Texas - Courtyard)
6. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Houston/Hobby Airport, Texas - Courtyard)
7. Lease agreement dated April 3, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (San Antonio, Texas - Residence Inn)
8. Lease agreement dated April 25, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Birmingham/Homewood, Alabama - Residence Inn)
9. Lease agreement dated April 25, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Charlottesville, Virginia - Residence Inn)
10. Lease agreement dated May 23, 1997 between HPTMI Properties Trust and
CR14 Tenant Corporation (Atlanta, Georgia - Residence Inn)
11. Lease agreement dated October 10, 1997 between Courtyard Management
Corporation and CR14 Tenant Corporation. Assigned to HPTMI Properties
Trust on October 10, 1997 (Allentown, Pennsylvania - Courtyard).
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EXHIBIT A-2, continued
T1 Old Leases
12. Lease agreement dated October 10, 1997 between Residence Inn by
Marriott, Inc. and CR14 Tenant Corporation. Assigned to HPTMI
Properties Trust on October 10, 1997 (Allentown, Pennsylvania -
Residence Inn).
13. Lease agreement dated October 10, 1997 between HPTMI Properties Trust
and CR14 Tenant Corporation (Fairfax/Fairlakes, Virginia - Residence
Inn)
14. Lease agreement dated December 19, 1997 between HPTMI Properties Trust
and CR14 Tenant Corporation (Birmingham, Alabama - Courtyard)
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