LOAN AGREEMENTLoan Agreement • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts • Arizona
THIS LOAN AGREEMENT (as it may be amended, restated, supplemented, extended or renewed from time to time, this “Agreement”) is made as of October 2, 2015, between GE CAPITAL FRANCHISE FINANCE CORPORATION, a Delaware corporation (“Lender”), and CDOR JAX COURT, LLC, a Delaware limited liability company and TRS JAX COURT, LLC, a Delaware limited liability company (each a “Borrower”, with references in the Loan Documents to “Borrower” meaning each Borrower).
ASSIGNMENT AND ASSUMPTION OF DEED OF TRUST AND OTHER LOAN DOCUMENTS AND MODIFICATION AGREEMENTAssignment and Assumption of Deed of Trust and Other Loan Documents and Modification Agreement • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts • Texas
THIS ASSIGNMENT AND ASSUMPTION OF DEED OF TRUST AND OTHER LOAN DOCUMENTS AND MODIFICATION AGREEMENT (this "Agreement") is made as of the 1st day of October, 2015, by and among PHG SAN ANTONIO, LLC, a Georgia limited liability company ("Original Borrower"), JATIN DESAI, an individual ("Desai"), MITUL PATEL, an individual ("Patel"), and GREGORY M. FRIEDMAN, an individual (“Friedman” and, together with Desai and Patel, each individually an "Original Guarantor" and collectively "Original Guarantors"), CDOR SAN SPRING, LLC, a Delaware limited liability company (“CDOR”), TRS SAN SPRING, LLC, a Delaware limited liability company (“TRS” and, together with CDOR, hereinafter individually and collectively referred to as “New Borrower”), CONDOR HOSPITALITY TRUST, INC., a Maryland corporation (“New Guarantor”), and LMREC 2015-CRE1, INC., a Delaware corporation (“Lender”).
GUARANTYGuaranty • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts • Arizona
This GUARANTY (the “Guaranty”) is made as of October 2, 2015, by CONDOR HOSPITALITY TRUST, INC., a Maryland corporation (“Guarantor”), to and for the benefit of GE CAPITAL FRANCHISE FINANCE CORPORATION, a Delaware corporation (“Lender”).
TERM LOAN NOTETerm Loan Note • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, CDOR JAX COURT, LLC, a Delaware limited liability company and TRS JAX COURT, LLC, a Delaware limited liability company (each a “Borrower”, with references in this Note to “Borrower” meaning each Borrower), hereby jointly and severally promise to pay to the order of GE CAPITAL FRANCHISE FINANCE CORPORATION, a Delaware corporation, and its successors and assigns (“Lender”), the principal sum stated above as the Note Amount, or so much thereof as may have been advanced by Lender, with interest thereon, on the dates and at the rates and upon the terms and conditions specified below. This Term Loan Note (this “Note”) is the Note referred to in the Loan Agreement, dated the same date as this Note, between Borrower and Lender (as it may be amended, restated, supplemented, extended or renewed from time to time, the “Loan Agreement”) and is being executed and delivered pursuant thereto (the loan made pursuant to this Note and the Loan Agreement being referred to in this Note
INDEMNITY AND GUARANTY AGREEMENT (SPRINGHILL SUITES)Indemnification & Liability • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts • Texas
THIS INDEMNITY AND GUARANTY AGREEMENT (this "Agreement"), made as of October 1, 2015 by CONDOR HOSPITALITY TRUST, INC., a Maryland corporation ("Guarantor"), having an address at c/o Condor Hospitality Trust, Inc., 1800 W. Pasewalk Avenue, Suite 200, Norfolk, NE 68701, in favor of LMREC 2015-CRE1, INC, a Delaware corporation ("Lender"), having an address at 350 South Beverly Drive, Suite 300, Beverly Hills, California 90212. Initially capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to such terms in the Security Instrument (as hereinafter defined).
DEED OF TRUST, SECURITY AGREEMENT AND FINANCING STATEMENT byDeed of Trust, Security Agreement and Financing Statement • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts • Texas
THIS DEED OF TRUST, SECURITY AGREEMENT AND FINANCING STATEMENT (this "Security Instrument") is made April 21, 2014 ("Effective Date"), by PHG SAN ANTONIO LLC, a Georgia limited liability company ("Borrower"), the address of which is 5607 Glenridge Drive, Suite 430, Atlanta, Georgia 30342, to CYRUS N. ANSARI, ESQ. (together with any successor or substitute Trustee from time to time designated or acting in accordance herewith, the "Trustee"), the address of which is c/o Stutzman, Bromberg, Esserman & Plifka, 2323 Bryan Street, Suite 2200, Dallas, Texas 75201, for the benefit of LMREC III HOLDINGS III, INC., a Delaware corporation ("Lender"), the address of which is 350 South Beverly Drive, Suite 300, Beverly Hills, California 90212.
LOCKBOX AND SECURITY AGREEMENT (SPRINGHILL SUITES)Lockbox and Security Agreement • November 13th, 2015 • Condor Hospitality Trust, Inc. • Real estate investment trusts • Texas
THIS LOCKBOX AND SECURITY AGREEMENT (this "Agreement"), made as of October 1, 2015, is by CDOR SAN SPRING, LLC, a Delaware limited liability company (“CDOR”), and TRS SAN SPRING, LLC, a Delaware limited liability company (“TRS” and, together with CDOR, individually and collectively referred to herein as "Borrower"), each having an address at c/o Condor Hospitality Trust, Inc., 1800 W. Pasewalk Avenue, Suite 200, Norfolk, NE 68701, in favor of LMREC 2015-CRE1, INC., a Delaware corporation ("Lender"), having an address at 350 South Beverly Drive, Suite 300, Beverly Hills, California 90212. Initially capitalized terms used herein but not defined herein shall have the meanings ascribed to such terms in Schedule 1 attached hereto or the Security Instrument (as defined below).
