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).
