Document:

Exhibit 10.166

	
	

	
	

	
	

	
	

	
	IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day
and year first above written.
PLEDGOR:
LODGING FUND REIT III OP, LP
a Delaware limited partnership
By: Lodging Fund REIT III, Inc.
a Maryland corporation,
its General Partner
N
Title: Chief Operating Officer
Address: 1635 43rd Street S
Suite 205
Fargo, ND 58103
AL)
[Signatures continue on Following Page]
46678173 v2 5
/s/ Sam Montgomery

	
	ACCESS POINT:
ACCESS POINT FINANCIAL, LLC,
a Delaware limited liability company
Name: John Patton
Title: Chief Financial Officer
Address: 1 Ravinia Drive
Suite 900
Atlanta, Georgia 30346
46159')95 v2 6
/s/ John PattonExhibit 10.167

	
	

	
	

	
	

	
	

	
	IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day
and year first above written.
PLEDGOR:
LODGING FUND REIT III TRS, INC.
a Delaware corporation,
By:___...e.....,�W'-A.---¥-LZ��======::::::::e..--- (SEAL)
Name: Samuel C. Montgo ery
Title:  Chief Operating Officer
Address: 1635 43rd Street S
Suite 205
Fargo, ND 58103
ACCESS POINT:
ACCESS POINT FINANCIAL, LLC
By: _________ _
Name: ----------
Title:
Address: 1 Ravinia Drive
Suite 900
Atlanta, Georgia 30346
46678395 v2 5
/s/ Sam Montgomery

	
	ACCESS POINT:
ACCESS POINT FINANCIAL, LLC,
a Delaware limited liability company
Name: John Patton
Title: Chief Financial Officer
Address: 1 Ravinia Drive
Suite 900
Atlanta, Georgia 30346
467S999S v2 6
/s/ John PattonExhibit 10.168

	
	

	
	

	
	

	
	

	
	Notices. All notices, consents, approvals and requests required or permitted hereunder
shall be given in writing and shall be effective for all purposes if hand delivered or sent by (a)
certified or registered United States mail, postage prepaid, return receipt requested or (b) expedited
prepaid delivery service, either commercial or United States Postal Service, with proof of
attempted delivery (with a copy of any notice delivered by the methods described in clause (a) or
clause (b) to be sent by electronic mail), addressed as follows (or at such other address and person
as shall be designated from time to time by any party hereto, as the case may be, in a written notice
to the other parties hereto in the manner provided for in this Section 8) (any inclusion of an e-mail
address below is for informational purposes only, and communication via e-mail alone shall not
be an effective method of notice for purposes of this Agreement):
If to Lender:
If to Tenant:
Access Point Financial, LLC
One Ravinia Drive, Suite 900
Atlanta, Georgia 30346
Attention: Justin Perry, Legal Department
LF3 Northbrook TRS, LLC
1635 43rd Street South
Suite 205
Fargo, ND 58103
a. Successors and Assigns. This Agreement shall bind and benefit the parties,
their successors and assigns, any Successor Landlord, and its successors and assigns. If Lender
assigns the Security Instrument, then upon delivery to Tenant of written notice thereof
accompanied by the assignee's written assumption of all obligations under this Agreement, all
liability of the assignor shall terminate.
b. Entire Agreement. This Agreement constitutes the entire agreement
between Lender and Tenant regarding the subordination of the Lease to the Security Instrument
and the rights and obligations of Tenant and Lender as to the subject matter of this Agreement.
c. Interaction with Lease and with Security Instrument. If this Agreement
conflicts with the Lease, then this Agreement shall govern as between the parties and any
Successor Landlord, including upon any attornment pursuant to this Agreement. This Agreement
supersedes, and constitutes full compliance with, any provisions in the Lease that provide for
subordination of the Lease to, or for delivery of non-disturbance agreements by the holder of, the
Security Instrument.
d. Lender's Rights and Obligations. Except as expressly provided for in this
Agreement, Lender shall have no obligations to Tenant with respect to the Lease. If an attornment
occurs pursuant to this Agreement, then all rights and obligations of Lender under this Agreement
shall terminate, without thereby affecting in any way the rights and obligations of Successor
Landlord provided for in this Agreement.
5 SNDA
46740703 v2 

	
	

	
	IN WITNESS WHEREOF, Lender and Tenant have caused this Agreement to be
executed as of the date first above written.
Subscribed and sworn before me
By the said
This :). day of December, 2021
aμ� Notary Public
[SEAL]
LENDER:
ACCESS POINT FINANCIAL, LLC,
a Delaware limited liability company
By:
am� ohn Patton
Title: Chief Financial Officer
SNDA • Signature Page46740703 v2
/s/ John Patton
/s/ Michael Johnson

	
	/s/ Sam Montgomery
/s/ Jennifer Kleinwachter

	
	LANDLORD'S CONSENT
Landlord consents and agrees to the foregoing Agreement, which was entered into at
Tenant's request. The foregoing Agreement shall not alter, waive or diminish any of Landlord's
obligations under the Security Instrument or the Lease. The above Agreement  discharges any
obligations of Lender under the Security Instrument and related loan documents to enter into a
non-disturbance agreement with Tenant. Landlord is not a party to the above Agreement.
STATE OF NORTH DAKOTA )
COUNTY OF CASS )
LF3 NORTHBROOK, LLC
a Delaware limited liability company
By: Lodging Fund REIT III OP, LP
a Delaware limited partnership
its Sole Member
By: Lodging Fund REIT III, Inc.
a Maryland corporation,
its General Partner
By: ��C::::;;i"=----'----ll------\-- )
ry
Its: Chief Operating Officer
�t�te of North Dakota, County of Cass, this record was acknowledged before me on November
�' 2021 by Samuel C. Montgomery, Chief Operating Officer of Lodging Fund REIT III, Inc.,
General Partner of Lodging Fund REIT III OP, LP, Sole Member ofLF3 Northbrook, LLC, a
Delaware limited liability company.
46740703 vi
[Stamp] JENNIFER A KLEINWACHTER
Notary Public
State of North Dakota
My Commission Expires October 10, 2024
9 SNDA
Notary Public
/s/ Sam Montgomery
/s/ Jennifer KleinwachterExhibit 10.169

	
	4890-7542-5798.2
JOINDER TO ENVIRONMENTAL INDEMNITY AGREEMENT
This JOINDER TO ENVIRONMENTAL INDEMNITY AGREEMENT (this “Joinder”), dated as of January
___, 2022, is executed and delivered by LODGING FUND REIT III OP, LP, a Delaware limited partnership (“New
Owner”), LF3 FARGO MED, LLC, a Delaware limited liability company and LF3 FARGO MED TRS, LLC, a Delaware
limited liability company (collectively, “New Borrower”, and together with New Owner, collectively, “Indemnitors”), in
favor of LEGENDARY A-1 BONDS, LLC, a Delaware limited liability company (“Lender”), its successors and its assigns.
R E C I T A L S
A. Pursuant to the terms of that certain Loan Agreement dated as of October 4, 2021, evidencing a loan from
Lender to Agassiz Hospitality LLC, a South Dakota limited liability company (“Original Borrower”) in the original principal
amount of $7,174,991.75, Original Borrower and KAJ Hospitality, Inc., a South Dakota corporation (“Original Guarantor”),
are parties to that certain Environmental Indemnity Agreement dated October 4, 2021 (as supplemented, amended, modified
or restated from time to time, the “Environmental Indemnity Agreement”) in favor of Lender.
B. Original Borrower has requested, among other things, that Lender agree to the transfer of the Property (as
defined in the Environmental Indemnity Agreement) to New Owner and to the substitution of New Borrower as borrower
under the Loan.
C. Lender has agreed to the aforesaid transfer of the Property and to substitute New Borrower as borrower
under the Loan provided, among other things, Indemnitors enter into this Joinder which reflects the aforesaid substitution of
New Borrower as borrower under the Loan and Indemnitors as parties to the Environmental Indemnity Agreement.
NOW, THEREFORE, in consideration of the premises herein contained, and for other good and valuable
consideration (the receipt, sufficiency and adequacy of which are hereby acknowledged), the parties hereto (intending to be
legally bound) hereby agree as follows:
1. Incorporation.  The foregoing preamble and recitals are incorporated herein by this reference.
2. Joinder and Assumption.  From and after the date hereof, Indemnitors hereby absolutely and
unconditionally (i) join as and becomes a party to the Environmental Indemnity Agreement as an Indemnitor thereunder, (ii)
assume, as a joint and several obligor thereunder, all of the obligations, liabilities and indemnities of Original Borrower and
Original Guarantor under the Environmental Indemnity Agreement, as expressly limited herein, and (iii) covenant and agree
to be bound by and adhere to all of the terms, covenants, waivers, releases, agreements and conditions of or respecting
Indemnitors with respect to the Environmental Indemnity Agreement and all of the representations and warranties contained
in the Environmental Indemnity Agreement (in the manner set forth in Section 3 of this Joinder).  From and after the date
hereof, any reference to the term “Borrower” in the Environmental Indemnity Agreement shall, from and after the date hereof,
mean and refer to New Borrower.  Except as expressly provided herein, the Environmental Indemnity Agreement remains in
full force and effect and is hereby ratified and confirmed in all respects.
3. Representations and Warranties.  Indemnitors hereby represent and warrant to Lender, which
representations and warranties shall survive the execution and delivery hereof, that this Joinder is the legally valid and binding
obligation of Indemnitors, enforceable against Indemnitors in accordance with its terms, and further that each of the
representations and warranties contained in the Environmental Indemnity Agreement, are true and correct in all material
respects from and after the date hereof.
4. Successors and Assigns.  This Joinder shall be binding upon Indemnitors, Original Borrower,
Original Guarantor and Lender and their respective successors and permitted assigns, and shall inure to the benefit of
Indemnitors, Original Borrower, Original Guarantor and Lender and the successors and assigns of Lender.  No other person
or entity shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection
with, this Joinder.  None of Indemnitors, Original Borrower or Original Guarantors may assign or transfer any of their
respective rights or obligations under this Joinder without the prior written consent of Lender.
5. Severability; Construction.  Wherever possible, each provision of this Joinder shall be
interpreted in such manner so as to be effective and valid under applicable law, but if any provision of this Joinder shall be
prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such provision or invalidity,
without invalidating the remainder of such provision or the remaining provisions of this Joinder.  All obligations of New
18

	
	/s/ Sam Montgomery
/s/ Sam Montgomery
/s/ Sam Montgomery

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