##### 



Exhibit 10.29.2
  SECOND AMENDED AND RESTATED LOAN AGREEMENT
   FELCOR ST. PETE (SPE), L.L.C.
  FELCOR ST. PETE LEASING (SPE), L.L.C.,
  GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.




---



##### 



TABLE OF CONTENTS
 PageI.
    
    DEFINITIONS; PRINCIPLES OF CONSTRUCTIONSection 1.1.
    
    Definitions
    
    
    1Section 1.2.
    
    Principles of Construction
    
    
    24II.
    
    GENERAL TERMSSection 2.1.
    
    Loan Assumption
    
    
    242.1.1
    
    Agreement to Assume the Loan
    
    
    242.1.2
    
    Assumption Agreement
    
    
    242.1.3
    
    The Note, Mortgage and Loan Documents
    
    
    24Section 2.2.
    
    Interest Rate
    
    
    242.2.1
    
    Interest Generally
    
    
    242.2.2
    
    Interest Calculation
    
    
    242.2.3
    
    Determination of Interest Rate
    
    
    252.2.4
    
    Additional Costs
    
    
    282.2.5
    
    Default Rate
    
    
    292.2.6
    
    Usury Savings
    
    
    292.2.7
    
    Interest Rate Cap Agreement
    
    
    29Section 2.3.
    
    Loan Payment
    
    
    312.3.1
    
    Payments Generally
    
    
    312.3.2
    
    Payment on Maturity Date
    
    
    312.3.3
    
    Late Payment Charge
    
    
    312.3.4
    
    Method and Place of Payment
    
    
    32Section 2.4.
    
    Prepayments
    
    
    322.4.1
    
    Voluntary Prepayments
    
    
    322.4.2
    
    Mandatory Prepayments
    
    
    332.4.3
    
    Prepayments After Default
    
    
    332.4.4
    
    Release of Property
    
    
    332.4.5
    
    Release on Payment in Full
    
    
    33Section 2.5.
    
    Cash Management
    
    
    332.5.1
    
    Lockbox Account
    
    
    332.5.2
    
    Cash Management Account
    
    
    342.5.3
    
    Payments Received Under the Cash Management Agreement
    
    
    36Section 2.6.
    
    Extension of the Initial Maturity Date
    
    
    36III.
    
    INTENTIONALLY OMITTEDIV.
    
    REPRESENTATIONS AND WARRANTIESSection 4.1.
    
    Borrower Representations
    
    
    374.1.1
    
    Organization
    
    
    374.1.2
    
    Proceedings
    
    
    374.1.3
    
    No Conflicts
    
    
    37
 -i-




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##### 



Page4.1.4
    
    Litigation
    
    
    374.1.5
    
    Agreements
    
    
    384.1.6
    
    Title
    
    
    384.1.7
    
    Solvency
    
    
    384.1.8
    
    Full and Accurate Disclosure
    
    
    394.1.9
    
    No Plan Assets
    
    
    394.1.10
    
    Compliance
    
    
    394.1.11
    
    Financial Information
    
    
    404.1.12
    
    Condemnation
    
    
    404.1.13
    
    Federal Reserve Regulations
    
    
    404.1.14
    
    Utilities and Public Access
    
    
    404.1.15
    
    Not a Foreign Person
    
    
    404.1.16
    
    Separate Lots
    
    
    414.1.17
    
    Assessments
    
    
    414.1.18
    
    Enforceability
    
    
    414.1.19
    
    No Prior Assignment
    
    
    414.1.20
    
    Insurance
    
    
    414.1.21
    
    Use of Property
    
    
    414.1.22
    
    Certificate of Occupancy; Licenses
    
    
    414.1.23
    
    Flood Zone
    
    
    414.1.24
    
    Physical Condition
    
    
    424.1.25
    
    Boundaries
    
    
    424.1.26
    
    Leases
    
    
    424.1.27
    
    Intentionally Omitted.
    
    
    424.1.28
    
    Principal Place of Business; State of Organization
    
    
    434.1.29
    
    Filing and Recording Taxes
    
    
    434.1.30
    
    Special Purpose Entity/Separateness
    
    
    434.1.31
    
    Management Agreement
    
    
    444.1.32
    
    Illegal Activity
    
    
    444.1.33
    
    No Change in Facts or Circumstances; Disclosure
    
    
    444.1.34
    
    Investment Company Act
    
    
    444.1.35
    
    Embargoed Person
    
    
    444.1.36
    
    Cash Management Account
    
    
    454.1.37
    
    Patents, Trademarks, etc
    
    
    454.1.38
    
    Ground Lease
    
    
    454.1.39
    
    Hotel Operating Lease
    
    
    46Section 4.2.
    
    Survival of Representations
    
    
    46V.
    
    BORROWER COVENANTSSection 5.1.
    
    Affirmative Covenants
    
    
    475.1.1
    
    Existence; Compliance with Legal Requirements
    
    
    475.1.2
    
    Taxes and Other Charges
    
    
    485.1.3
    
    Litigation
    
    
    485.1.4
    
    Access to Property
    
    
    495.1.5
    
    Intentionally Omitted
    
    
    495.1.6
    
    Cooperate in Legal Proceedings
    
    
    49
 -ii-




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##### 



Page5.1.7
    
    Perform Loan Documents
    
    
    495.1.8
    
    Award and Insurance Benefits
    
    
    495.1.9
    
    Further Assurances
    
    
    495.1.10
    
    Mortgage Taxes
    
    
    495.1.11
    
    Financial Reporting
    
    
    495.1.12
    
    Business and Operations
    
    
    525.1.13
    
    Title to the Property
    
    
    525.1.14
    
    Costs of Enforcement
    
    
    535.1.15
    
    Estoppel Statement
    
    
    535.1.16
    
    Intentionally Omitted.
    
    
    535.1.17
    
    Performance by Borrower
    
    
    545.1.18
    
    Confirmation of Representations
    
    
    545.1.19
    
    No Joint Assessment
    
    
    545.1.20
    
    Leasing Matters
    
    
    545.1.21
    
    Alterations
    
    
    565.1.22
    
    Operation of Property
    
    
    575.1.23
    
    Ground Leases.
    
    
    575.1.24
    
    Hotel Operating Lease
    
    
    59Section 5.2.
    
    Negative Covenants
    
    
    605.2.1
    
    Operation of Property
    
    
    605.2.2
    
    Liens
    
    
    605.2.3
    
    Dissolution
    
    
    615.2.4
    
    Change in Business
    
    
    615.2.5
    
    Debt Cancellation
    
    
    615.2.6
    
    Zoning
    
    
    615.2.7
    
    Removal of FF&E
    
    
    615.2.8
    
    Principal Place of Business and Organization
    
    
    625.2.9
    
    ERISA
    
    
    625.2.10
    
    Transfers
    
    
    625.2.11
    
    Ground Lease
    
    
    66VI.
    
    INSURANCE; CASUALTY; CONDEMNATION; RESTORATIONSection 6.1.
    
    Insurance
    
    
    66Section 6.2.
    
    Casualty
    
    
    70Section 6.3.
    
    Condemnation
    
    
    71Section 6.4.
    
    Restoration
    
    
    71VII.
    
    RESERVE FUNDSSection 7.1.
    
    Required Repair Funds
    
    
    757.1.1
    
    Deposits
    
    
    757.1.2
    
    Release of Required Repair Funds
    
    
    76Section 7.2.
    
    Tax and Insurance Escrow Fund
    
    
    76Section 7.3.
    
    Replacements and Replacement Reserve
    
    
    777.3.1
    
    Replacement Reserve Fund
    
    
    777.3.2
    
    Disbursements from Replacement Reserve Account
    
    
    77
 -iii-




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##### 



Page7.3.3
    
    Balance in the Replacement Reserve Account
    
    
    787.3.4
    
    Debt Service Reserve
    
    
    78Section 7.4.
    
    Ground Lease Reserve Fund.
    
    
    787.4.1
    
    Deposits to Ground Lease Fund
    
    
    797.4.2
    
    Release of Ground Lease Reserve Fund
    
    
    79Section 7.5.
    
    Reserve Funds, Generally
    
    
    79VIII.
    
    DEFAULTSSection 8.1.
    
    Event of Default
    
    
    80Section 8.2.
    
    Remedies
    
    
    83IX.
    
    SPECIAL PROVISIONSSection 9.1.
    
    Sale of Note and Securitization
    
    
    849.1.2
    
    Mezzanine Loans
    
    
    86Section 9.2.
    
    Securitization Indemnification
    
    
    86Section 9.3.
    
    Intentionally Omitted.
    
    
    89Section 9.4.
    
    Exculpation
    
    
    89Section 9.5.
    
    Matters Concerning Manager
    
    
    91Section 9.6.
    
    Servicer
    
    
    91X.
    
    MISCELLANEOUSSection 10.1.
    
    Survival
    
    
    91Section 10.2.
    
    Lenders Discretion
    
    
    92Section 10.3.
    
    Governing Law
    
    
    92Section 10.4.
    
    Modification, Waiver in Writing
    
    
    93Section 10.5.
    
    Delay Not a Waiver
    
    
    93Section 10.6.
    
    Notices
    
    
    94Section 10.7.
    
    Trial by Jury
    
    
    95Section 10.8.
    
    Headings
    
    
    95Section 10.9.
    
    Severability
    
    
    95Section 10.10.
    
    Preferences
    
    
    95Section 10.11.
    
    Waiver of Notice
    
    
    96Section 10.12.
    
    Remedies of Borrower
    
    
    96Section 10.13.
    
    Expenses; Indemnity
    
    
    96Section 10.14.
    
    Schedules Incorporated
    
    
    97Section 10.15.
    
    Offsets, Counterclaims and Defenses
    
    
    97Section 10.16.
    
    No Joint Venture or Partnership; No Third Party Beneficiaries
    
    
    97Section 10.17.
    
    Publicity
    
    
    98Section 10.18.
    
    Waiver of Marshalling of Assets
    
    
    98Section 10.19.
    
    Waiver of Counterclaim
    
    
    98Section 10.20.
    
    Conflict; Construction of Documents; Reliance
    
    
    98Section 10.21.
    
    Prior Agreements
    
    
    99Section 10.22.
    
    Joint and Several Liability
    
    
    99Section 10.23.
    
    Contribution and Related Provisions.
    
    
    99
 -iv-




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##### 



SCHEDULES
 Schedule I
    
    -
    
    Rent RollSchedule II
    
    -
    
    Required RepairsSchedule III
    
    -
    
    Organizational StructureSchedule IV
    
    -
    
    LicensesSchedule V
    
    -
    
    Equipment LeasesSchedule VI
    
    -
    
    LitigationSchedule VII
    
    
    
    Reserve Disbursement Request Schedule
 -v-




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##### 



SECOND AMENDED AND RESTATED LOAN AGREEMENT
 THIS SECOND AMENDED AND RESTATED LOAN AGREEMENT Agreement GREENWICH CAPITAL FINANCIAL PRODUCTS, INC. Lender FELCOR ST. PETE (SPE), L.L.C., Hotel Owner FELCOR ST. PETE
LEASING (SPE), L.L.C., Hotel Operator Borrower Borrower
 W I T N E S S E T H:
 WHEREAS Original Loan Agreement
 WHEREAS
 WHEREAS
 WHEREAS
 NOW THEREFORE
 I. DEFINITIONS; PRINCIPLES OF CONSTRUCTION
 Section 1.1. Definitions
 Acceptable Counterparty




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##### 



Additional Insolvency Opinion Section 4.1.30(d)
 Affiliate
 Affiliated Manager
 Allocable Amount Section 10.22.1
 ALTA
 Alteration Threshold Amount
 Annual Budget
 Applicable Interest Rate Section 2.2.3
 Approved Annual Budget Section 5.1.11(d)
 Approved Qualified Manager
 Assignment of Leases
 Assignment of Management Agreement
 -2-




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##### 



Assumed Note Rate
 Assumption Agreement
 Assumption Date
 Award
 Bankruptcy Action
 Basic Carrying Costs
 Borrower
 Breakage Costs Section 2.2.3(h)
 Business Day
 Capital Expenditures
 Cash Management Account Section 2.5.2(a)
 Cash Management Agreement
 -3-




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##### 



Casualty Section 6.2
 Casualty Consultant Section 6.4(b)(iii)
 Casualty Retainage 6.4(b)(iv)
 Closing Date
 Co-Obligor Section 10.22.1
 Co-Obligor Payment Section 10.22.1
 Code
 Collateral Assignment of Interest Rate Cap Agreement
 Condemnation
 Condemnation Proceeds Section 6.4(b)
 Constituent Member
 Contribution Obligations Section 10.22.1
 Counterparty
 -4-




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##### 



Debt
 Debt Service
 Debt Service Coverage Ratio
   Debt Service Coverage Ratio Threshold
 Debt Service Reserve Account Section 7.3.4
 Debt Service Reserve Fund Section 7.3.4
 Default
 Default Rate
 Determination Date th
 Disclosure Document
 Eligible Account
 -5-




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##### 



Eligible Institution
 Embargoed Person Section 4.1.35
 Environmental Indemnity
 ERISA
 Event of Default Section 8.1(a)
 Exchange Act Section 9.2(a)
 Excusable Delay
 Extended Maturity Date Section 2.6
 Extension Option Section 2.6
 FelCor REIT
 FelCor OP
 FF&E
 -6-




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##### 



FF&E Expenditures
 FF&E Expenditures Work
 Fiscal Year
 Fitch
 Foreign Taxes Section 2.2.3(e)
 GAAP
 Governmental Authority
 Gross Income from Operations
 -7-




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##### 



excluding
 Ground Lease
 Ground Lease Reserve Account Section 7.4.1
 Ground Lease Reserve Fund Section 7.4.1
 Ground Lessor
 Ground Rent Section 7.4.1
 Ground Rent Deposit Section 7.4.1
 Hotel Operator
 Hotel Operating Lease
 Hotel Owner
 Improvements
 -8-




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##### 



Indebtedness
 Indemnified Liabilities Section 10.13(b)
 Independent Director Independent Manager
 Initial Maturity Date
 -9-




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##### 



Insolvency Opinion
 Insurance Premiums Section 6.l(b)
 Insurance Proceeds Section 6.4(b)
 Interest Period st
 Interest Rate Cap Agreement
 Interest Shortfall Section 2.4.1
 Lease
 Legal Requirements
 Lender
 Lender Group Section 9.2(b)
 Liabilities Section 9.2(b)
 -10-




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##### 



LIBOR
 LIBOR Loan
 Licenses Section 4.1.22
 Lien
 Loan
 Loan Documents
 -11-




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##### 



Loan-to-Value Ratio
 Lockbox Account Section 2.5.1(a)
 London Business Day
 Management Agreement
 Manager
 Marina Ground Lease
 Marriott Manager
 Maturity Date
 Maximum Legal Rate
 Monthly Debt Service Amount
 Moodys
 Mortgage
 -12-




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##### 



Net Cash Flow
 Net Cash Flow Schedule Section 5.1.11(b)
 New Mezzanine Borrower Section 9.1.2
 New Mezzanine Loan Section 9.1.2
 Net Operating Income
 Net Proceeds Section 6.4(b)
 Net Proceeds Deficiency Section 6.4(b)(vi)
 Note
 O&M Agreement
 Officers Certificate Section 9.4
 Operating Equipment and Supplies
 Operating Expenses
 -13-




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##### 



Operating Lease Subordination Agreement
 Other Charges
 Payment Date st
 Payment Date Deficiency Section 7.3.4
 Permitted Encumbrances
 Permitted Investments
 Person
 -14-




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##### 



Personal Property
 Physical Conditions Report
 PIP Requirements Schedule II
 Policies Policy Section 6.1(b)
 Prescribed Laws
 Prime Rate The Wall Street Journal The Wall Street Journal The Wall Street Journal
 Prime Rate Loan
 Prime Rate Spread
 Principal Special Purpose Entity
 -15-




---



##### 



Prior Owner
 Property
 Provided Information
 Qualified Manager provided
 Rating Agencies
 Registration Statement Section 9.2(b)
 REMIC Trust
 Rents
 -16-




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##### 



Replacement Interest Rate Cap Agreement provided
 Replacement Management Agreement provided subclause (ii)
 Replacement Reserve Account Section 7.3.1
 Replacement Reserve Fund Section 7.3.1
 Replacement Reserve Monthly Deposit Section
7.3.1
 Replacements Section 7.3.1
 Required Repair Account Section 7.1.1
 Required Repair Fund Section 7.1.1
 -17-




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##### 



Required Repairs Section 7.1
 Reserve Funds
 Restoration
 Restoration Threshold
 Restricted Party
 S&P
 Sale or Pledge
 Securities Section 9.1
 Securities Act Section 9.2(a)
 Securitization Section 9.1
 Servicer Section 9.6
 Servicing Agreement Section 9.6
 Severed Loan Documents Section 8.2(b)
 Special Purpose Entity
  -18-




---



##### 



-19-




---



##### 



provided however
       provided however provided
 -20-




---



##### 



provided however
  provided subclause (ii) Schedule V
  Schedule III
 provided however
   -21-




---



##### 



Sponsor
 -22-




---



##### 



Spread
 State
 Strike Price
 Subordinate Mezzanine Intercreditor Agreement Section 5.2.10(f)
 Subordinate Mezzanine Loan Section 5.2.10(f)
 Survey
 Tax and Insurance Escrow Fund Section 7.2
 Taxes
 Title Insurance Policy
 Transfer Section 5.2.10(b)
 Transferee Section 5.2.10(e)
 UCC Uniform Commercial Code
 Underwriter Group Section 9.2(b)
 Uniform System of Accounts
 -23-




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##### 



U.S. Obligations
 Zoning Report
 Section 1.2. Principles of Construction
 II.GENERAL TERMS
 Section 2.1. Loan Assumption.
 2.1.1 Agreement to Assume the Loan .
 2.1.2 Assumption Agreement .
 2.1.3 The Note, Mortgage and Loan Documents .
 Section 2.2. Interest Rate .
 2.2.1 Interest Generally .
 2.2.2 Interest Calculation .
 -24-




---



##### 



2.2.3 Determination of Interest Rate . Section 2.2.3(c) (f)
 Section 2.2.3
   Section 2.2.3(e)
 -25-




---



##### 



Foreign Taxes"
   -26-




---



##### 



Section 2.3 Section 2.2.3(e)(ii) (iii)
 Section 2.2.3(e) provided
 Section 2.2.3(e)
    provided Section 2.2.3(g)
 -27-




---



##### 



Breakage Costs" provided however Section 2.4.1
 Section 2.2.3(e) Section 2.2.3 Section 2.2.3
 2.2.4 Additional Costs . Section 2.2.3
 -28-




---



##### 



2.2.5 Default Rate .
 2.2.6 Usury Savings .
 2.2.7 Interest Rate Cap Agreement .
  -29-




---



##### 



-30-




---



##### 



Section 2.3. Loan Payment .
 2.3.1 Payments Generally . Section 2.2.3(e)
   2.3.2 Payment on Maturity Date .
 2.3.3 Late Payment Charge .
 -31-




---



##### 



2.3.4 Method and Place of Payment .
 Section 2.4. Prepayments .
 2.4.1 Voluntary Prepayments . provided Interest Shortfall provided however Section 2.4.1
 -32-




---



##### 



Section 2.4 provided however
 2.4.2 Mandatory Prepayments . provided however Section
2.4.2 Section 2.4.2
 2.4.3 Prepayments After Default .
 2.4.4 Release of Property Section 2.4
 2.4.5 Release on Payment in Full . provided
 Section 2.5. Cash Management .
 2.5.1 Lockbox Account . Lockbox Account"
 -33-




---



##### 



Section 2.5.1(a) (c)
 2.5.2 Cash Management Account . Cash Management Account"
  -34-




---



##### 



Section 7.4
 Section 7.2
        Section 2.5.3
  -35-




---



##### 



2.5.3 Payments Received Under the Cash Management Agreement . Section 7.4.2
 Section 2.6. Extension of the Initial Maturity Date . Extension Option" Extended Maturity Date"
     provided however
 -36-




---



##### 



III. INTENTIONALLY OMITTED
 IV. REPRESENTATIONS AND WARRANTIES
 Section 4.1. Borrower Representations .
 4.1.1 Organization . Schedule III
 4.1.2 Proceedings .
 4.1.3 No Conflicts .
 4.1.4 Litigation . Schedule VI
 -37-




---



##### 



4.1.5 Agreements . Section 1.1
 4.1.6 Title .
 4.1.7 Solvency .
 -38-




---



##### 



4.1.8 Full and Accurate Disclosure .
 4.1.9 No Plan Assets .
 4.1.10 Compliance . Schedule IV
 -39-




---



##### 



4.1.11 Financial Information .
 4.1.12 Condemnation .
 4.1.13 Federal Reserve Regulations .
 4.1.14 Utilities and Public Access .
 4.1.15 Not a Foreign Person .
 -40-




---



##### 



4.1.16 Separate Lots .
 4.1.17 Assessments .
 4.1.18 Enforceability .
 4.1.19 No Prior Assignment .
 4.1.20 Insurance .
 4.1.21 Use of Property .
 4.1.22 Certificate of Occupancy; Licenses . Schedule IV Licenses"
 4.1.23 Flood Zone . Section 6.l(a)(i)
 -41-




---



##### 



4.1.24 Physical Condition .
 4.1.25 Boundaries .
 4.1.26 Leases . Schedule I Schedule I Schedule I
 4.1.27 Intentionally Omitted .
 -42-




---



##### 



4.1.28 Principal Place of Business; State of Organization .
 4.1.29 Filing and Recording Taxes .
 4.1.30 Special Purpose Entity/Separateness .
  Section 4.1.30(a)
  Additional Insolvency Opinion"
  -43-




---



##### 



Section 4.1.30
 4.1.31 Management Agreement .
 4.1.32 Illegal Activity .
 4.1.33 No Change in Facts or Circumstances; Disclosure .
 4.1.34 Investment Company Act .
 4.1.35 Embargoed Person . Embargoed Person"
 -44-




---



##### 



4.1.36 Cash Management Account
   4.1.37 Patents, Trademarks, etc .
 4.1.38 Ground Lease
 Recording; Modification provided
 No Liens
 -45-




---



##### 



Ground Lease Assignable
 Default
 Notice.
 Cure
 Term
 New Lease
 Insurance Proceeds
 Subleasing
 4.1.39 Hotel Operating Lease .
 Section 4.2. Survival of Representations . Section 4.1
 -46-




---



##### 



V. BORROWER COVENANTS
 Section 5.1. Affirmative Covenants .
 5.1.1 Existence; Compliance with Legal Requirements .
 -47-




---



##### 



5.1.2 Taxes and Other Charges . provided however Section
7.2 Section 7.2
 5.1.3 Litigation .
 -48-




---



##### 



5.1.4 Access to Property .
 5.1.5 Intentionally Omitted .
 5.1.6 Cooperate in Legal Proceedings .
 5.1.7 Perform Loan Documents .
 5.1.8 Award and Insurance Benefits .
 5.1.9 Further Assurances .
   5.1.10 Mortgage Taxes .
 5.1.11 Financial Reporting .
 -49-




---



##### 



Section 5.1.11
 Net Cash Flow Schedule
 -50-




---



##### 



Section 4.1.30
 Approved Annual Budget" THIS IS A REQUEST FOR APPROVAL OF AN ANNUAL BUDGET AND IF LENDER DOES NOT RESPOND WITHIN
TEN (10) BUSINESS DAYS, BORROWER MAY DELIVER A DEEMED APPROVAL NOTICE
 -51-




---



##### 



THIS IS A REQUEST FOR APPROVAL OF AN ANNUAL BUDGET. APPROVAL WILL BE
DEEMED GIVEN IF LENDER DOES NOT RESPOND WITHIN FIVE (5) BUSINESS DAYS provided
  5.1.12 Business and Operations .
 5.1.13 Title to the Property .
 -52-




---



##### 



5.1.14 Costs of Enforcement.
 5.1.15 Estoppel Statement .
   Section 5.1.20
 5.1.16 Intentionally Omitted
 -53-




---



##### 



5.1.17 Performance by Borrower
 5.1.18 Confirmation of Representations
 5.1.19 No Joint Assessment.
 5.1.20 Leasing Matters provided however provided however
 -54-




---



##### 



Section 5.1.20 IF YOU FAIL TO
RESPOND TO OR TO EXPRESSLY DENY THIS REQUEST FOR APPROVAL IN WRITING WITHIN TEN (10) BUSINESS DAYS,
YOUR APPROVAL SHALL BE DEEMED GIVEN IF YOU FAIL TO RESPOND
TO OR TO EXPRESSLY DENY THIS REQUEST FOR APPROVAL IN WRITING WITHIN FIVE (5) BUSINESS DAYS, YOUR
APPROVAL SHALL BE DEEMED GIVEN
 -55-




---



##### 



5.1.21 Alterations Section 5.1.21
 -56-




---



##### 



5.1.22 Operation of Property
  5.1.23 Ground Leases .
    -57-




---



##### 



-58-




---



##### 



5.1.24 Hotel Operating Lease .
   -59-




---



##### 



Section 5.1.20 Section 5.1.24(b) Section 5.1.20
 Section 5.2. Negative Covenants
 5.2.1 Operation of Property provided
  5.2.2 Liens
 -60-




---



##### 



Section 4.1.30 Section 1.1
 5.2.3 Dissolution
 5.2.4 Change in Business
 5.2.5 Debt Cancellation
 5.2.6 Zoning
 5.2.7 Removal of FF&E Section 5.2.7 IF YOU FAIL TO RESPOND TO OR TO
EXPRESSLY DENY THIS REQUEST FOR APPROVAL IN WRITING WITHIN TEN (10) BUSINESS DAYS, YOUR APPROVAL
SHALL BE DEEMED GIVEN
 -61-




---



##### 



5.2.8 Principal Place of Business and Organization Section 4.1.28
 5.2.9 ERISA
     5.2.10 Transfers
 -62-




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##### 



Section 5.2.10 Section 5.1.20 Transfer Section 5.2.10(d)
 Section 5.1.22
 Section 5.2.10 Section 5.2.10(f)
 -63-




---



##### 



Section 5.2.10(f)
 Section 5.2.10
  Transferee
     -64-




---



##### 



Subordinate Mezzanine Loan
    Subordinate Mezzanine Intercreditor Agreement
   -65-




---



##### 



5.2.11 Ground Lease .
   VI. INSURANCE; CASUALTY; CONDEMNATION; RESTORATION
 Section 6.1. Insurance
  -66-




---



##### 



Section 6.1(a)(i)
 -67-




---



##### 



Section 2.6 provided however
       -68-




---



##### 



Sections 6.1 (a) Sections 6.1(a) provided however
  Section 6.1(a) Policies Policy IF YOU FAIL TO RESPOND TO OR TO EXPRESSLY DENY
THIS REQUEST FOR APPROVAL IN WRITING WITHIN THIRTY (30) BUSINESS DAYS, YOUR APPROVAL SHALL BE
DEEMED GIVEN Section 6.1(a)
 -69-




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##### 



Insurance Premiums
 Section 6.1(a)
 Section 6.1(a) Section 6.l(a)(v)
 Section 6.1
     Section 6.2. Casualty Casualty Section 6.4 provided Section
 -70-




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##### 



6.4
 Section 6.3. Condemnation Section
6.4 provided Section 6.4
 Section 6.4. Restoration
 Section 6.4(b)(i)(A) (B) (D) (F)(2) (3) (4) (G) (H) (I)
 -71-




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##### 



Section 6.4 Net Proceeds Section 6.4 Section 6.1 (a)(i) (iv) (vi) (ix) (x) Insurance Proceeds Condemnation Proceeds
 Section 6.4(a)
     Section 6.l(a)(iii)
  -72-




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##### 



Section 6.1(a)(iii)
        Section 6.4(b)
 Casualty Consultant
 -73-




---



##### 



minus Casualty Retainage Section 6.4(b) Section 6.4(b) provided however
  -74-




---



##### 



Net Proceeds Deficiency Section 6.4(b)
 Section 6.4(b)
 Section 6.4(b)(vii) Section 2.4.2
  VII. RESERVE FUNDS
 Section 7.1. Required Repair Funds .
 7.1.1 Deposits . Schedule II Required Repairs
 -75-




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##### 



Section 7.5 Required Repair Fund Required Repair Account
 7.1.2 Release of Required Repair Funds .
 Section 7.2. Tax and Insurance Escrow Fund Tax and
Insurance Escrow Fund Section 5.1.2 Section
5.1.2 Section 7.2
 -76-




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##### 



Section
7.2
 Section 7.3. Replacements and Replacement Reserve
 7.3.1 Replacement Reserve Fund Replacement Reserve Monthly
Deposit Replacements Replacement Reserve Fund Replacement Reserve Account
 7.3.2 Disbursements from Replacement Reserve Account Schedule VII
 -77-




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##### 



7.3.3 Balance in the Replacement Reserve Account
 7.3.4 Debt Service Reserve Section 2.5.2(b)(vi)(A) Section 7.5 Debt Service Reserve Fund Debt Service Reserve Account Section 2.5.2(b)(ii) Payment Date Deficiency Section 2.5.2(b)(ii) Section 7.4.3
 Section 7.4. Ground Lease Reserve Fund .
 -78-




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7.4.1 Deposits to Ground Lease Fund . Ground Rent Ground Lease Reserve Fund Ground Lease Reserve Account Ground Rent Deposit
 7.4.2 Release of Ground Lease Reserve Fund . Section 7.4
 Section 7.5. Reserve Funds, Generally
 -79-




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##### 



Section 7.5
 provided however
 VIII. DEFAULTS
 Section 8.1. Event of Default Event of Default
  -80-




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Section 9.1(a)(i)(B)
 Section 7.2
   provided however
  provided however
  Section 5.2 Section 4.1.30 Section
5.1.11 Section
4.1.30 Section 5.1.11 Section 5.2 Section 4.1.30
 -81-




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Section 5.1.1
   provided however
  -82-




---



##### 



Section 8.2. Remedies
 Severed
Loan Documents
 -83-




---



##### 



provided however Section 9.1
 Remedies Cumulative; Waivers
 IX. SPECIAL PROVISIONS
 Section 9.1. Sale of Note and Securitization Securities Securitization
  -84-




---



##### 



Section 9.1 Section 9.1.2
 -85-




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##### 



9.1.2 Mezzanine Loans Section 9.1 New Mezzanine Loan provided de minimus Section 9.1.2 New Mezzanine Borrower
 Section 9.2. Securitization Indemnification Securities Act Exchange Act
 -86-




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##### 



Section 9.2 Registration Statement Lender Group Underwriter Group Liabilities provided however
 -87-




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##### 



Section 9.2 Section 9.2 Section 9.2 provided however
 Section 9.2(b) (c) Section 9.2(b) (c) provided however
 -88-




---



##### 



Section 9.4 Section 9.2
 Section 9.3. Intentionally Omitted
 Section 9.4. Exculpation
   -89-




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-90-




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##### 



Section 9.5. Matters Concerning Manager
 Section 9.6. Servicer Servicer Servicing Agreement
 provided
 X. MISCELLANEOUS
 Section 10.1. Survival
 -91-




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##### 



Section 10.2. Lenders Discretion
 Section 10.3. Governing Law . (A) THE PARTIES HEREBY AGREE AND IRREVOCABLY ELECT THAT,
IN ALL RESPECTS, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS AGREEMENT, THE NOTE AND THE OTHER LOAN DOCUMENTS AND
THE OBLIGATIONS ARISING HEREUNDER AND THEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE
(WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF
AMERICA, EXCEPT THAT AT ALL TIMES THE PROVISIONS FOR THE CREATION, PERFECTION, PRIORITY AND
ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS CREATED PURSUANT HERETO AND PURSUANT TO THE OTHER
LOAN DOCUMENTS SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAW OF THE STATE IN WHICH THE
PROPERTY IS LOCATED, IT BEING UNDERSTOOD THAT, TO THE FULLEST EXTENT PERMITTED BY THE LAW OF SUCH
STATE, THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE CONSTRUCTION, VALIDITY AND ENFORCEABILITY
OF ALL LOAN DOCUMENTS AND ALL OF THE OBLIGATIONS ARISING HEREUNDER OR THEREUNDER. TO THE FULLEST
EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT
THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT, THE NOTE AND THE OTHER LOAN
DOCUMENTS, AND THIS AGREEMENT, THE NOTE AND THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE
NEW YORK GENERAL OBLIGATIONS LAW.
 (B) ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST LENDER OR BORROWER ARISING OUT OF OR RELATING
TO THIS
 -92-




---



##### 



AGREEMENT OR THE OTHER LOAN DOCUMENTS MAY AT LENDERS OPTION BE INSTITUTED IN ANY FEDERAL OR
STATE COURT IN THE CITY OF NEW YORK, COUNTY OF NEW YORK, PURSUANT TO SECTION 5-1402 OF THE NEW YORK
GENERAL OBLIGATIONS LAW AND BORROWER WAIVES ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE BASED
ON VENUE AND/OR FORUM NON CONVENIENS OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND BORROWER HEREBY
IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING.
BORROWER DOES HEREBY DESIGNATE AND APPOINT:
 CT CORPORATION SYSTEM
111 EIGHTH AVENUE, 13TH FLOOR
NEW YORK, NEW YORK 10011
 AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS
WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW
YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND NOTICE OF
SAID SERVICE MAILED OR DELIVERED TO BORROWER IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY
RESPECT EFFECTIVE SERVICE OF PROCESS UPON BORROWER IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE
STATE OF NEW YORK. BORROWER (I) SHALL GIVE PROMPT NOTICE TO LENDER OF ANY CHANGED ADDRESS OF ITS
AUTHORIZED AGENT HEREUNDER, (II) MAY AT ANY TIME AND FROM TIME TO TIME DESIGNATE A SUBSTITUTE
AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH SUBSTITUTE AGENT AND OFFICE SHALL BE
DESIGNATED AS THE PERSON AND ADDRESS FOR SERVICE OF PROCESS), AND (III) SHALL PROMPTLY DESIGNATE
SUCH A SUBSTITUTE IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN NEW YORK, NEW YORK OR IS
DISSOLVED WITHOUT LEAVING A SUCCESSOR.
 Section 10.4. Modification, Waiver in Writing
 Section 10.5. Delay Not a Waiver
 -93-




---



##### 



Section 10.6. Notices Section
10.6
 If to Lender:
    
    Greenwich Capital Financial Products, Inc.600 Steamboat RoadGreenwich, CT 06830Attention: Commercial Mortgage Loan DepartmentFacsimile No. (203) 629-8363with a copy to:
    
    Greenwich Capital Financial Products, Inc.600 Steamboat RoadGreenwich, CT 06830Legal and Compliance DepartmentAttention: Legal DepartmentFacsimile No. (203) 629-5718with a copy to:
    
    Sidley Austin LLPOne South Dearborn StreetChicago, Illinois 60603Attention: Charles E. Schrank
Facsimile No. (312) 853-7036If to Hotel Owner or Hotel
Operator:
    
    c/o FelCor Lodging Trust Incorporated545 E. John Carpenter Freeway, Suite 1300Irving, Texas 75062Attention: Finance DepartmentFacsimile No.: (972) 444-4949With a copy to:
    
    c/o FelCor Lodging Trust Incorporated545 E. John Carpenter Freeway, Suite 1300Irvine, Texas 75062
 -94-




---



##### 



Attention: General CounselFacsimile No.: (972) 444-4195With a copy to:
    
    Akin Gump Strauss Hauer & Feld LLP1700 Pacific Avenue, Suite 4100Dallas, Texas 75201Attention: Robert W. DockeryFacsimile No.: (214) 969-4343
  Section 10.7. Trial by Jury . BORROWER AND LENDER EACH HEREBY AGREES NOT TO ELECT A
TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO
THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR
ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO
TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER AND LENDER, AND IS INTENDED TO
ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD
OTHERWISE ACCRUE. EACH PARTY IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY
PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY THE OTHER.
 Section 10.8. Headings
 Section 10.9. Severability
 Section 10.10. Preferences
 -95-




---



##### 



Section 10.11. Waiver of Notice
 Section 10.12. Remedies of Borrower
 Section 10.13. Expenses; Indemnity provided however Section 10.13(a)
 -96-




---



##### 



Indemnified Liabilities provided however
  Section 10.14. Schedules Incorporated
 Section 10.15. Offsets, Counterclaims and Defenses
 Section 10.16. No Joint Venture or Partnership; No Third Party Beneficiaries
 -97-




---



##### 



Section 10.17. Publicity
 Section 10.18. Waiver of Marshalling of Assets
 Section 10.19. Waiver of Counterclaim
 Section 10.20. Conflict; Construction of Documents; Reliance
 -98-




---



##### 



Section 10.21. Brokers and Financial Advisors Section 10.21
 Section 10.21. Prior Agreements
 Section 10.22. Joint and Several Liability
 Section 10.23. Contribution and Related Provisions
 Co-Obligor Co-Obligor Payment
 -99-




---



##### 



Contribution Obligations Allocable Amount et seq
     -100-




---



##### 



[ NO FURTHER TEXT ON THIS PAGE ]
 -101-




---



##### 



IN WITNESS WHEREOF,
 FELCOR ST. PETE (SPE), L.L.C.,a Delaware limited liability companyBy: 
Name:
    
    /s/ Charles N. Nye                 

Charles N. NyeTitle:
    
    Vice PresidentFELCOR ST. PETE LEASING (SPE), L.L.C.,a Delaware limited liability companyBy: 
Name:
    
    /s/ Charles N. Nye                 

Charles N. NyeTitle:
    
    Vice President




---



##### 



LENDER:GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.,a Delaware corporationBy:
Name:
    
    /s/ John M. Burke                 

John M. BurkeTitle:
    
    Managing Director




---



##### 



SCHEDULE I
 (Rent Roll)
 None




---



##### 



SCHEDULE II
 (Required Repairs)




---



##### 



SCHEDULE III
 (Organizational Structure)




---



##### 



SCHEDULE IV
 (Licenses)




---



##### 



SCHEDULE V
 (Equipment Leases)




---



##### 



SCHEDULE VI
 (Litigation)




---



##### 



SCHEDULE VII
 Reserve Disbursement Request Schedule