Document:

Mortgage and Security Agreement

 Exhibit 10.22 
  
 RIVERCENTER LANDMARK TRS, INC., as mortgagor 
 (Borrower) 
  
 to 
  
 THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, as mortgagee 
 (Lender) 
  

  
 MORTGAGE AND 
 SECURITY AGREEMENT 
 (LEASEHOLD) 
  

  

							
	 	    	Dated:	 	As of February 15, 2005	  	 
				
	 	    	Location:	 	5 East RiverCenter Road/10 West RiverCenter Boulevard, Covington, Kentucky	  	 
				
	 	    	County:	 	Kenton	  	 
			
	 	    	UPON RECORDATION RETURN TO:	  	 
			
	 	    	DLA Piper Rudnick Gray Cary US LLP	  	 
	 	    	333 Market Street, 32nd Floor	  	 
	 	    	San Francisco, California 94105	  	 
	 	    	Attention: Stephen A. Cowan	  	 
			
	 	    	Loan Number: 6 105 784	  	 

  

			
	INSTRUMENT PREPARED BY:
		
	By:	 	 
	 Name:  
	 	 

  
 DLA Piper Rudnick Gray Cary US LLP

 333 Market Street, Suite 3200 
 San Francisco, CA 94105

 T: 415.659.7000 
  
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 
  

  
 TABLE OF CONTENTS

  

					
	 ARTICLE I - OBLIGATIONS
	  	 
	 Section 1.01
	  	Obligations	  	3
	 Section 1.02
	  	Documents	  	3
		
	 ARTICLE II - REPRESENTATIONS AND WARRANTIES
	  	 
	 Section 2.01
	  	Title, Legal Status and Authority	  	4
	 Section 2.02
	  	Validity of Documents	  	4
	 Section 2.03
	  	Litigation	  	4
	 Section 2.04
	  	Status of Property	  	4
	 Section 2.05
	  	Tax Status of Borrower	  	5
	 Section 2.06
	  	Bankruptcy and Equivalent Value	  	5
	 Section 2.07
	  	Disclosure	  	5
	 Section 2.08
	  	Illegal Activity	  	6
	 Section 2.09
	  	Executive Order 13224	  	6
		
	 ARTICLE III - COVENANTS AND AGREEMENTS
	  	 
	 Section 3.01
	  	Payment of Obligations	  	6
	 Section 3.02
	  	Continuation of Existence	  	6
	 Section 3.03
	  	Taxes and Other Charges	  	6
	 Section 3.04
	  	Defense of Title, Litigation, and Rights under Documents	  	7
	 Section 3.05
	  	Compliance with Laws and Operation and Maintenance of Property	  	8
	 Section 3.06
	  	Insurance	  	9
	 Section 3.07
	  	Damage and Destruction of Property	  	11
	 Section 3.08
	  	Condemnation	  	12
	 Section 3.09
	  	Liens and Liabilities	  	13
	 Section 3.10
	  	Tax and Insurance Deposits	  	13
	 Section 3.11
	  	ERISA	  	14
	 Section 3.12
	  	Environmental Representations, Warranties and Covenants	  	15
	 Section 3.13
	  	Electronic Payments	  	17
	 Section 3.14
	  	Inspection	  	17
	 Section 3.15
	  	Records, Reports, and Audits	  	17
	 Section 3.16
	  	Borrower’s Certificates	  	18
	 Section 3.17
	  	Full Performance Required; Survival of Warranties	  	18
	 Section 3.18
	  	Additional Security	  	18
	 Section 3.19
	  	Further Acts	  	19
	 Section 3.20
	  	Capital Leases	  	19
		
	 ARTICLE IV - ADDITIONAL ADVANCES; EXPENSES; SUBROGATION
	  	 
	 Section 4.01
	  	Expenses and Advances	  	19
	 Section 4.02
	  	Subrogation	  	19
		
	 ARTICLE V - SALE, TRANSFER, OR ENCUMBRANCE OF THE PROPERTY
	  	 
	 Section 5.01
	  	Due-on-Sale or Encumbrance	  	20

  

 -i- 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

					
	 ARTICLE VI - DEFAULTS AND REMEDIES
	  	 
	 Section 6.01
	  	Events of Default	  	21
	 Section 6.02
	  	Remedies	  	23
	 Section 6.03
	  	Expenses	  	24
	 Section 6.04
	  	Rights Pertaining to Sales	  	24
	 Section 6.05
	  	Applications of Proceeds	  	25
	 Section 6.06
	  	Additional Provisions as to Remedies	  	25
	 Section 6.07
	  	Waiver of Rights and Defenses	  	25
		
	 ARTICLE VII - SECURITY AGREEMENT
	  	 
	 Section 7.01
	  	Security Agreement	  	26
		
	 ARTICLE VIII - LIMITATION ON PERSONAL LIABILITY AND INDEMNITIES
	  	 
	 Section 8.01
	  	Limited Recourse Liability	  	26
	 Section 8.02
	  	General Indemnity	  	26
	 Section 8.03
	  	Transaction Taxes Indemnity	  	26
	 Section 8.04
	  	ERISA Indemnity	  	26
	 Section 8.05
	  	Environmental Indemnity	  	27
	 Section 8.06
	  	Duty to Defend, Costs and Expenses	  	27
	 Section 8.07
	  	Recourse Obligation and Survival	  	27
		
	 ARTICLE IX - ADDITIONAL PROVISIONS
	  	 
	 Section 9.01
	  	Usury Savings Clause	  	27
	 Section 9.02
	  	Notices	  	28
	 Section 9.03
	  	Sole Discretion of Lender	  	28
	 Section 9.04
	  	Applicable Law and Submission to Jurisdiction	  	29
	 Section 9.05
	  	Construction of Provisions	  	29
	 Section 9.06
	  	Transfer of Loan	  	29
	 Section 9.07
	  	Miscellaneous	  	30
	 Section 9.08
	  	Entire Agreement	  	30
	 Section 9.09
	  	WAIVER OF TRIAL BY JURY	  	31
		
	 ARTICLE X - OPERATIONS LEASE PROVISIONS
	  	 

  
 EXHIBIT A 
 EXHIBIT B 
 EXHIBIT C 
 EXHIBIT D 
 EXHIBIT E 
  

 -ii- 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 DEFINITIONS

  
 The terms set forth below are defined in the following sections of
this Mortgage and Security Agreement: 
  

			
	Action	  	Section 9.04
	Additional Funds	  	Section 3.07 (c)
	Affecting the Property	  	Section 3.12 (a)
	Affiliate Loan	  	Section 5.01
	Affiliate Loan Lender	  	Section 5.01
	All	  	Section 9.05 (m)
	Any	  	Section 9.05 (m)
	Assessments	  	Section 3.03 (a)
	Assignment	  	Recitals, Section 2 (B)
	Awards	  	Section 3.08 (b)
	Bankruptcy Code	  	Recitals, Section 2 (A) (ix)
	Borrower	  	Preamble
	Costs	  	Section 4.01
	Damage	  	Section 3.07 (a)
	Default Rate	  	Section 1.01 (a)
	Demand	  	Section 9.12 (n)
	Deposits	  	Section 3.10
	Documents	  	Section 1.02
	Environmental Indemnity	  	Section 8.05
	Environmental Law	  	Section 3.12 (a)
	Environmental Liens	  	Section 3.12 (b)
	Environmental Report	  	Section 3.12 (a)
	ERISA	  	Section 3.11
	Event of Default	  	Section 6.01
	Flood Acts	  	Section 2.04 (a)
	Foreign Person	  	Section 2.05
	Full Insurable Value	  	Section 3.06 (a)
	Grace Period	  	Section 6.01(b)
	Hazardous Materials	  	Section 3.12 (a)
	Impositions	  	Section 3.10
	Improvements	  	Recitals, Section 2 (A) (ii)
	Include, Including	  	Section 9.05 (f)
	Indemnified Parties	  	Section 8.02
	Indemnify	  	Section 8.02
	Instrument	  	Preamble
	Insurance Premiums	  	Section 3.10
	Investors	  	Section 9.06
	Land	  	Recitals, Section 2 (A) (i)
	Laws	  	Section 3.05(c)
	Lease	  	Section 9.05 (k)
	Leases	  	Recitals, Section 2 (A) (ix)
	Lender	  	Preamble

  

 -iii- 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

			
	Lessee	  	Section 9.05 (k)
	Lessor	  	Section 9.05 (k)
	Liens	  	Section 3.09
	Loan	  	Recitals, Section 1
	Losses	  	Section 8.02
	Major Tenants	  	Section 3.08 (d)
	Microbial Matter	  	Section 3.12 (a)
	Net Proceeds	  	Section 3.07 (d)
	Note	  	Recitals, Section 1
	Notice	  	Section 9.02
	Obligations	  	Section 1.01
	On Demand	  	Section 9.05 (n)
	Organization State	  	Section 2.01
	Owned	  	Section 9.05 (l)
	Permitted Encumbrances	  	Recitals, Section 2 (B)
	Person	  	Section 9.05 (i)
	Personal Property	  	Section 6.02 (j)
	Prepayment Premium	  	Section 1.01(a)
	Property	  	Recitals, Section 2 (A)
	Property State	  	Section 2.1
	Provisions	  	Section 9.05 (j)
	Rating Agency	  	Section 9.06
	Release	  	Section 3.12 (a)
	Rent Loss Proceeds	  	Section 3.07 (c)
	Rents	  	Recitals, Section 2 (A) (x)
	Restoration	  	Section 3.07 (a)
	Securities	  	Section 9.06
	Security Agreement	  	Section 7.01
	Taking	  	Section 3.08 (a)
	Tenant	  	Recitals, Section 2 (A) (vi)
	Tenants	  	Section 9.05 (k)
	Transaction Taxes	  	Section 3.03 (c)
	U.C.C.	  	Section 2.02
	Upon Demand	  	Section 9.05 (n)
	Violation	  	Section 3.11

  

 -iv- 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 MORTGAGE AND SECURITY
AGREEMENT 
 (LEASEHOLD) 
  
 THIS MORTGAGE AND SECURITY AGREEMENT (this “Instrument”) is made as of the 15th day of February, 2005, by RIVERCENTER LANDMARK TRS, Inc., a Maryland corporation, having its principal office and place of business at c/o Eagle
Hospitality Properties Trust, Inc., 100 E. RiverCenter Boulevard, Suite 480, Covington, Kentucky 41011, as mortgagor (“Borrower”), to THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation, having an office at
c/o Prudential Asset Resources, 2200 Ross Avenue, Suite 4900-E, City of Dallas, County of Dallas, Texas 75201, as mortgagee (“Lender”). 
  
 RECITALS: 
  
 1. Borrower, by the terms of its promissory note (“Note”) executed on the same date as this Instrument and in connection with the loan (“Loan”) from Lender to Borrower and other
entities affiliates with Borrower, is indebted to Lender in the principal sum of up to EIGHTY-ONE MILLION EIGHT HUNDRED THOUSAND AND NO/100 U.S. DOLLARS ($81,800,000.00). The Maturity Date of the Loan set forth in the Note is March 5, 2010.

  
 2. Borrower desires to secure the payment of and the performance of all of its
obligations under the Note and certain additional Obligations (as defined in Section 1.01). 
  
 IN CONSIDERATION of the principal sum of the Note, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Borrower irrevocably: 
  
 A. Grants, bargains, sells, assigns, transfers, pledges, mortgages, warrants, and conveys to
Lender, and grants Lender a security interest in, the following property, rights, interests and estates owned or leased by Borrower (collectively, the “Property”): 
  
 (i) The leasehold and other real property rights in Kenton County, Kentucky, and described in Exhibit A attached
hereto respecting the land described in Exhibit A attached hereto (“Land”); 
  
 (ii) All buildings, structures and improvements (including fixtures) now or later located in or on the Land (“Improvements”); 

 
 (iii) All easements, estates, and interests including hereditaments,
servitudes, appurtenances, tenements, mineral and oil/gas rights, water rights, air rights, development power or rights, options, reversion and remainder rights, and any other rights owned by Borrower and relating to or usable in connection with or
access to the Property; 
  
 (iv) All right, title, and interest
owned by Borrower in and to all land lying within the rights-of-way, roads, or streets, open or proposed, adjoining the Land to the center line thereof, and all sidewalks, alleys, and strips and gores of land adjacent to or used in connection with
the Property; 
  

 1 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 (v) All right, title, and interest of Borrower in, to, and under all plans, specifications, surveys,
studies, reports, permits, licenses, agreements, contracts, instruments, books of account, insurance policies, and any other documents relating to the use, construction, occupancy, leasing, activity, or operation of the Property; 
  
 (vi) All fixtures and personal property described in Exhibit B owned
by Borrower and replacements thereof; but excluding all personal property owned by any tenant (a “Tenant”) of the Property; 
  
 (vii) All of Borrower’s right, title and interest in the proceeds (including conversion to cash or liquidation claims) of (A) insurance relating to
the Property and (B) all awards made for the taking by eminent domain (or by any proceeding or purchase in lieu thereof) of the Property, including awards resulting from a change of any streets (whether as to grade, access, or otherwise) and for
severance damages; 
  
 (viii) All tax refunds, including interest
thereon, tax rebates, tax credits, and tax abatements, and the right to receive the same, which may be payable or available with respect to the Property; 
  
 (ix) All leasehold estates, ground leases, leases, subleases, licenses, or other agreements, including, without limitation, all reservations, security
interests, contractual liens and security deposits, affecting the use, enjoyment or occupancy of the Property now or later existing (including any use or occupancy arrangements created pursuant to Title 7 or 11 of the United States Code, as amended
from time to time, or any similar federal or state laws now or later enacted for the relief of debtors (the “Bankruptcy Code”) and all extensions and amendments thereto (collectively, the “Leases”) and all of
Borrower’s right, title and interest under the Leases, including all guaranties thereof; and 
  
 (x) All rents, issues, profits, royalties, receivables, use and occupancy charges (including, without limitation, all oil, gas or other mineral royalties
and bonuses), room rents, revenues, accounts and receivables derived from the use or occupancy of all or any portion of the Improvements, all revenues and credit card receipts collected from guest rooms, restaurants, bars, meeting rooms, banquet
rooms and recreational facilities, all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the
right of the use and occupancy of property or rendering of services by Borrower or any operator or manager of the hotel or the commercial space located in the Improvements or acquired from others (including, without limitation, from the rental of
any office space, retail space, guest rooms or other space, halls, stores, and offices, and deposits securing reservations of such space), license, lease, sublease and concession fees and rentals, parking fees and revenues, health club membership
fees, food and beverage wholesale and retail sales (including mini-bar revenues), service charges, vending machine sales and proceeds, if any, from business interruption or other loss of income insurance and other sums payable by the tenants,
whether evidenced by the Leases or other instruments), income and other benefits now or later derived from any portion or use of the Property (including any payments received with respect to any Tenant or the Property pursuant to the Bankruptcy
Code) and all cash, security deposits, advance rentals, or similar payments relating thereto (collectively, the “Rents”) and all proceeds from the cancellation, termination, surrender, sale or other disposition of the Leases, and
the right to receive and apply the Rents to the payment of the Obligations. 
  

 2 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 B. Absolutely and unconditionally assigns, sets over, and transfers to Lender all of Borrower’s right, title,
interest and estates in and to the Leases and the Rents, subject to the terms and license granted to the Borrower under that certain Assignment of Leases and Rents made by Borrower to Lender dated the same date as this Instrument (the
“Assignment”), which document shall govern and control the provisions of this assignment. 
  
 C. Absolutely and unconditionally assign, sets over, and transfers to Lender all of Borrower’s right, title, interest and estates in and to all agreements, leases, franchises and contracts pertaining to the
operation of the Property, subject to the terms and license granted to Borrower under that certain Assignment of Agreements made by Borrower to Lender dated the same date as this Instrument (the “Assignment of Agreements”), which
document shall govern and control the provisions of this assignment. 
  
 TO HAVE
AND TO HOLD the Property unto the Lender and its successors and assigns forever, subject only to the provisions of this Instrument. 
  
 PROVIDED, HOWEVER, if and when Borrower shall fully pay and perform the Obligations as provided for in the Documents (defined below) and shall comply with and fully
discharge all the provisions in the Documents, these presents and the estates hereby granted (except for the obligations of Borrower set forth in Sections 3.11 and 3.12 and Article VIII hereof) shall cease and terminate. 
  
 IN FURTHERANCE of the foregoing, Borrower warrants, represents, covenants and agrees as
follows: 
  
 ARTICLE I - OBLIGATIONS 
  
 Section 1.01 Obligations. This Instrument is executed, acknowledged, and
delivered by Borrower to secure and enforce the following obligations (collectively, the “Obligations”): 
  
 (a) Payment of all obligations, indebtedness and liabilities under the Documents including (i) the Prepayment Premium (as defined in the
Note)(“Prepayment Premium”), (ii) interest at both the rate specified in the Note and at the Default Rate (as defined in the Note)(“Default Rate”), if applicable and to the extent permitted by Laws (defined below),
and (iii) renewals, extensions, and amendments of the Documents; 
  
 (b) Performance of every obligation, covenant, and agreement under the Documents including renewals, extensions, and amendments of the Documents; and 
  

(c) Payment of all sums advanced (including costs and expenses) by Lender pursuant to the Documents including renewals, extensions, and amendments of
the Documents. 
  
 Section 1.02 Documents. The
“Documents” shall mean each and all of the documents and agreements listed on Exhibit E attached hereto and by this reference made a part hereof, and every other written agreement executed in connection with the Loan (but
excluding the Loan application and Loan commitment) and by the party against whom enforcement is sought, including those given to evidence or further secure the payment and performance of any of the Obligations, and any written renewals, extensions,
and amendments of the foregoing, executed by the party against whom enforcement is sought. 
  

 3 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 All of the provisions of the Documents are incorporated into this Instrument as if fully set forth in this Instrument.

  
 ARTICLE II - REPRESENTATIONS AND WARRANTIES 

 
 Borrower hereby represents and warrants to Lender as follows: 
  
 Section 2.01 Title, Legal Status and Authority. Borrower (i) is seised of a
leasehold, certain real property rights and Improvements pursuant to that certain Lease Agreement dated October 6, 2004, by and between EHP RiverCenter Landmark, LLC, a Kentucky limited liability company, as Lessor, and Borrower, as Lessee
(“Operations Lease”), and good and marketable leasehold title to the Property, free and clear of all liens, charges, encumbrances, and security interests, except the matters listed in Exhibit C attached hereto (“Permitted
Encumbrances”); (ii) will forever warrant and defend its title to the Property and the validity, enforceability, and priority of the lien and security interest created by this Instrument against the claims of all persons; (iii) is a
corporation duly organized, validly existing, and in good standing and qualified to transact business under the laws of its state of organization or incorporation (“Organization State”) and the state where the Property is located
(“Property State”); and (iv) has all necessary approvals, governmental and otherwise, and full power and authority to own its properties (including the Property) and carry on its business. 
  
 Section 2.02 Validity of Documents. The execution, delivery and performance of
the Documents and the borrowing evidenced by the Note (i) are within the legal power of Borrower; (ii) have been authorized by all requisite action; (iii) have received all necessary approvals and consents; (iv) will not violate, conflict with,
breach, or constitute (with notice or lapse of time, or both) a default under (1) any law, order or judgment of any court, governmental authority, or the governing instrument of Borrower or (2) any indenture, agreement, or other instrument to which
Borrower is a party or by which it or any of its property is bound or affected; (v) will not result in the creation or imposition of any lien, charge, or encumbrance upon any of its properties or assets except for those in this Instrument; and (vi)
will not require any authorization or license from, or any filing with, any governmental or other body (except for the recordation of this Instrument, the Assignment and Uniform Commercial Code (“U.C.C.”) filings). The Documents constitute
legal, valid, and binding obligations of Borrower. 
  
 Section 2.03
Litigation. There is no action, suit, or proceeding, judicial, administrative, or otherwise (including any condemnation or similar proceeding), pending or, to the best knowledge of Borrower, threatened or contemplated against, or affecting,
Borrower or the Property which would have a material adverse effect on either the Property or Borrower’s ability to perform its obligations. 
  
 Section 2.04 Status of Property 
  
 (a) The Land and Improvements are not located in an area identified by the Secretary of Housing and Urban Development, or any successor, as an area having
special flood hazards pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, or the National Flood Insurance Reform Act of 1994, as each have been or may be amended, or any successor law (collectively, the
“Flood 

  

 4 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
Acts”) or, if located within any such area, Borrower has and will maintain the insurance prescribed in Section 3.06 below. 
  
 (b) Borrower has all necessary (i) certificates, licenses, and other
approvals, governmental and otherwise, for the operation of the Property and the conduct of its business and (ii) zoning, building code, land use, environmental and other similar permits or approvals, all of which are currently in full force and
effect and not subject to revocation, suspension, forfeiture, or modification. The Property and its use and occupancy is in full compliance with all Laws and Borrower has received no notice of any violation or potential violation of the Laws which
has not been remedied or satisfied. 
  
 (c) The Property is served
by all utilities (including water and sewer) required for its use. 
  
 (d) All public roads and streets necessary to serve the Property for its use have been completed, are serviceable, are legally open, and have been dedicated to and accepted by the appropriate governmental entities. 
  
 (e) The Property is free from damage caused by fire or other casualty.

  
 (f) All costs and expenses for labor, materials, supplies, and
equipment used in the construction of the Improvements have been paid in full except for the Permitted Encumbrances. 
  
 (g) Borrower owns and has paid in full for all furnishings, fixtures, and equipment (other than Tenants’ property) used in connection with the
operation of the Property, free of all security interests, liens, or encumbrances except the Permitted Encumbrances and those created by this Instrument. 
  
 (h) The Property is assessed for real estate tax purposes as one or more wholly independent tax lot(s), separate from any adjoining land or improvements
and no other land or improvements is assessed and taxed together with the Property. 
  
 Section 2.05 Tax Status of Borrower. Borrower is not a “foreign person” within the meaning of Sections 1445 and 7701 of the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 
  
 Section 2.06 Bankruptcy and Equivalent Value. No bankruptcy, reorganization,
insolvency, liquidation, or other proceeding for the relief of debtors has been instituted by or against Borrower, or any principal shareholder of Borrower. Borrower has received reasonably equivalent value for granting this Instrument. 

 
 Section 2.07 Disclosure. Borrower has disclosed to Lender all material facts
and has not failed to disclose any material fact that could cause any representation or warranty made herein to be materially misleading. There has been no adverse change in any condition, fact, circumstance, or event that would make any such
information materially inaccurate, incomplete or otherwise misleading. 
  

 5 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 Section 2.08 Illegal Activity. No portion of the Property has been or will be purchased, improved,
fixtured, equipped or furnished with proceeds of any illegal activity and, to the best of Borrower’s knowledge, there are no illegal activities at or on the Property. 
  
 Section 2.09 Executive Order 13224. Borrower and all persons or entities holding any legal or beneficial interest whatsoever
in Borrower are not included in, owned by, controlled by, acting for or on behalf of, providing assistance, support, sponsorship, or services of any kind to, or otherwise associated with any of the persons or entities referred to or described in
Executive Order 13224 – Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism, as amended. It shall constitute an Event of Default hereunder if the foregoing representation and warranty
shall ever become false. 
  
 ARTICLE III - COVENANTS AND
AGREEMENTS 
  
 Borrower covenants and agrees with Lender as follows:

  
 Section 3.01 Payment of Obligations. Borrower shall timely pay
and cause to be performed the Obligations. 
  
 Section 3.02 Continuation of
Existence. Borrower shall not (a) dissolve, terminate, or otherwise dispose of, directly, indirectly or by operation of law, all or substantially all of its assets; (b) reorganize or change its legal structure without Lender’s prior
written consent; (c) change its name, address, or the name under which Borrower conducts its business without promptly notifying Lender; or (d) do anything to cause the representations in Section 2.02 to become untrue. 
  
 Section 3.03 Taxes and Other Charges 
  
 (a) Payment of Assessments. Borrower shall pay when due all taxes,
liens, assessments, utility charges (public or private and including sewer fees), ground rents, maintenance charges, dues, fines, impositions, and public and other charges of any character (including penalties and interest) assessed against, or
which could become a lien against, the Property (“Assessments”) ten (10) days prior to the date any fine, penalty, interest or charge for nonpayment may be imposed. Unless Borrower is making deposits per Section 3.10, Borrower shall
provide Lender with receipts evidencing such payments (except for income taxes, franchise taxes, ground rents, maintenance charges, and utility charges) within thirty (30) days after their due date. 
  
 (b) Right to Contest. So long as no Event of Default (defined below)
is continuing, Borrower may, prior to delinquency and at its sole expense, contest any Assessment, but this shall not change or extend Borrower’s obligation to pay the Assessment as required above unless (i) Borrower gives Lender prior written
notice of its intent to contest an Assessment; (ii) Borrower demonstrates to Lender’s reasonable satisfaction that (1) the Property will not be sold to satisfy the Assessment prior to the final determination of the legal proceedings, (2) it has
taken such actions as are required or permitted to accomplish a stay of any such sale, or (3) it has furnished a bond or surety (satisfactory to Lender in form and amount) sufficient to prevent a sale of the Property; (iii) at Lender’s option,
Borrower has deposited the full amount necessary to pay any unpaid portion of the Assessments with Lender; and (iv) such proceeding shall be permitted under any other instrument to which Borrower or the Property is subject (whether superior or

  

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 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
inferior to this Instrument); provided, however, that the foregoing shall not apply to the contesting of any income taxes, franchise taxes, ground rents,
maintenance charges, and utility charges. 
  
 (c) Documentary
Stamps and Other Charges. Borrower shall pay all taxes, assessments, charges, expenses, costs and fees (including registration and recording fees and revenue, transfer, stamp, intangible, and any similar taxes)(collectively, the
“Transaction Taxes”) required in connection with the making and/or recording of the Documents. If Borrower fails to pay the Transaction Taxes after demand, Lender may (but is not obligated to) pay these and Borrower shall reimburse
Lender on demand for any amount so paid with interest at the applicable interest rate specified in the Note, which shall be the Default Rate unless prohibited by Laws. 
  
 (d) Changes in Laws Regarding Taxation. If any law (i) deducts from the value of real property for the purpose of
taxation any lien or encumbrance thereon, (ii) taxes mortgages or debts secured by mortgages for federal, state or local purposes or changes the manner of the collection of any such existing taxes, and/or (iii) imposes a tax, either directly or
indirectly, on any of the Documents or the Obligations, Borrower shall, if permitted by law, pay such tax within the statutory period or within twenty (20) days after demand by Lender, whichever is less; provided, however, that if, in
the reasonable determination of Lender, Borrower may pay Lender a fee in lieu of any such tax, then Borrower shall pay Lender said fee within twenty (20) days after demand by Lender; provided further, however, that if, in the
reasonable determination of Lender, Borrower is not permitted by law to pay such taxes, or to pay to Lender a fee in an amount equal to such taxes, then Lender shall have the option to declare the Obligations immediately due and payable (without any
Prepayment Premium) upon ninety (90) days’ notice to Borrower. 
  
 (e) No Credits on Account of the Obligations. Borrower will not claim or be entitled to any credit(s) on account of the Obligations for any part of the Assessments and no deduction shall be made or claimed from the taxable value of
the Property for real estate tax purposes by reason of the Documents or the Obligations. Borrower shall, if permitted by law, pay to Lender a fee in the amount equal to such credit or deduction taken within twenty (20) days after demand by Lender;
provided, however, that if, in the reasonable determination of Lender, such credit or deduction is required by law, and Borrower is not permitted by law to pay Lender a fee equal to such credit or deduction taken, then Lender shall
have the option to declare the Obligations immediately due and payable (without any Prepayment Premium) upon ninety (90) days’ notice to Borrower. 
  
 Section 3.04 Defense of Title, Litigation, and Rights under Documents. Borrower shall forever warrant, defend and preserve Borrower’s title to the
Property, the validity, enforceability and priority of this Instrument and the lien or security interest created thereby, and any rights of Lender under the Documents against the claims of all persons, and shall promptly notify Lender of any such
claims. Lender (whether or not named as a party to such proceedings) is authorized and empowered (but shall not be obligated) to take such additional steps as it may deem necessary or proper for the defense of any such proceeding or the protection
of the lien, security interest, validity, enforceability, or priority of this Instrument, title to the Property, or any rights of Lender under the Documents, including the employment of counsel, the prosecution and/or defense of litigation, the
compromise, release, or discharge of such adverse claims, the purchase of any tax title, the removal of any such liens and security interests, and any other actions Lender deems necessary to protect its interests. Borrower authorizes Lender to take
any actions required to be taken by Borrower, or permitted to be taken by Lender, in the Documents in the name and on behalf of Borrower. Borrower shall reimburse Lender on demand for all expenses (including attorneys’ fees) 

  

 7 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
incurred by it in connection with the foregoing and Lender’s exercise of its rights under the Documents. All such expenses of Lender, until reimbursed
by Borrower, shall be part of the Obligations, bear interest at the applicable interest rate specified in the Note, which shall be the Default Rate unless prohibited by Laws, and shall be secured by this Instrument. 
  
 Section 3.05 Compliance with Laws and Operation and Maintenance of Property.

  
 (a) Repair and Maintenance. Borrower will
operate and maintain the Property in good order, repair, and operating condition. Borrower will promptly make all necessary repairs, replacements, additions, and improvements necessary to ensure that the Property shall not in any way be diminished
or impaired. Borrower will not cause or allow any of the Property to be misused, wasted, or to deteriorate and Borrower will not abandon the Property. No new building, structure, or other improvement shall be constructed on the Land nor shall any
material part of the Improvements be removed, demolished, or structurally or materially altered, without Lender’s prior written consent. 
  
 (b) Replacement of Property. Borrower will keep the Property fully equipped and will replace all worn out or obsolete Property with new, comparable
fixtures or Property. Borrower will not, without Lender’s prior written consent, remove any Property covered by this Instrument unless the same is replaced by Borrower with a new, comparable article (i) owned by Borrower free and clear of any
lien or security interest (other than the Permitted Encumbrances and those created by this Instrument) or (ii) leased by Borrower (A) with Lender’s prior written consent or (B) if the replaced Property was leased at the time of execution of
this Instrument. 
  
 (c) Compliance with Laws. Borrower
shall comply with and shall cause the Property to be maintained, used, and operated in compliance with all (i) present and future laws, Environmental Laws (defined below), ordinances, regulations, rules, orders and requirements (including zoning and
building codes) of any governmental or quasi-governmental authority or agency applicable to Borrower or the Property (collectively, the “Laws”); (ii) orders, rules, and regulations of any regulatory, licensing, accrediting,
insurance underwriting or rating organization, or other body exercising similar functions; (iii) duties or obligations of any kind imposed under any Permitted Encumbrance or by law, covenant, condition, agreement, or easement, public or private; and
(iv) policies of insurance at any time in force with respect to the Property. If proceedings are initiated or Borrower receives notice that Borrower or the Property is not in compliance with any of the foregoing, Borrower will promptly send Lender
notice and a copy of the proceeding or violation notice. Without limiting Lender’s rights and remedies under Article VI or otherwise, if Borrower or the Property is not in compliance with all Laws, Lender may impose additional requirements upon
Borrower including monetary reserves or financial equivalents. 
  
 (d) Zoning and Title Matters. Borrower shall not, without Lender’s prior written consent, (i) initiate or support any zoning reclassification of the Property or variance under existing zoning ordinances; (ii) modify or
supplement any of the Permitted Encumbrances; (iii) impose any restrictive covenants or encumbrances upon the Property; (iv) execute or file any subdivision plat affecting the Property; (v) consent to the annexation of the Property to any
municipality; (vi) permit the Property to be used by the public or any person in a way that might make a claim of adverse possession or any implied dedication or easement possible; (vii) cause or permit the Property to become a non-conforming use
under zoning 

  

 8 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
ordinances or any present or future non-conforming use of the Property to be discontinued; or (viii) fail to comply with the terms of the Permitted
Encumbrances. 
  
 Section 3.06 Insurance 
  
 (a) Property and Time Element Insurance. Borrower shall keep the
Property insured for the benefit of Borrower and Lender (with Lender named as mortgagee) by (i) an “all risk” “special peril” property insurance policy with an agreed amount endorsement for full replacement cost (defined below)
without any coinsurance provisions or penalties, or the broadest form of coverage available, in an amount sufficient to prevent Lender from ever becoming a coinsurer under the policy or Laws, and with a deductible not to exceed Twenty-Five Thousand
Dollars ($25,000.00); (ii) a policy or endorsement insuring against acts of terrorism, (iii) a policy or endorsement insuring against claims applicable to the presence of Microbial Matter (as defined in 3.12(a) hereof); (iv) a policy or endorsement
providing business income insurance (including business interruption insurance, extra expense insurance and rent insurance) on an actual loss sustained basis in an amount equal to at least one (1) year’s total income from the Property including
all rents plus all other pro forma annual income such as percentage rent and tenant reimbursements of fixed and operating expenses; (v) a policy or endorsement insuring against damage by flood if the Property is located in a Special Flood Hazard
Area identified by the Federal Emergency Management Agency or any successor or related government agency as a 100 year flood plain currently classified as Flood Insurance Rate Map Zones “A”, “AO”, “AH”,
“A1-A30”, “AE”, “A99”, “V”, “V1-V30”, and “VE”, under which flood insurance has been made available under the Flood Acts, in an amount equal to the lesser of (1) the original amount of the
Note or (2) the maximum limit of coverage available for the Property under the Flood Acts; (vi) a policy or endorsement covering against damage or loss from (A) sprinkler system leakage and (B) boilers, boiler tanks, HVAC systems, heating and
air-conditioning equipment, pressure vessels, auxiliary piping, and similar apparatus, in the amount reasonably required by Lender; (vii) during the period of any construction, repair, restoration, or replacement of the Property, a standard
builder’s risk policy with extended coverage in an amount at least equal to the full replacement cost of such Property, and worker’s compensation, in statutory amounts; and (viii) a policy or endorsement covering against damage or loss by
earthquake and other natural phenomenon in the amounts reasonably required by Lender. “Full replacement cost” shall mean the one hundred percent (100%) replacement cost of the Property, without allowance for depreciation and
exclusive of the cost of excavations, foundations, footings, and value of land, and shall be subject to verification by Lender. Full replacement cost will be determined, at Borrower’s expense, periodically (but at least once per year) by the
insurance company or an appraiser, engineer, architect, or contractor approved by said company and Lender. 
  
 (b) Liability and Other Insurance. Borrower shall maintain commercial general liability insurance with per occurrence limits of $1,000,000, a
products/completed operations limit of $2,000,000, and a general aggregate limit of $2,000,000, with an excess/umbrella liability policy of not less than $10,000,000 per occurrence and annual aggregate covering Borrower, with Lender named as an
additional insured, against claims for bodily injury or death or property damage occurring in, upon, or about the Property or any street, drive, sidewalk, curb, or passageway adjacent thereto. In addition to any other requirements, such commercial
general liability and excess/umbrella liability insurance shall provide insurance against acts of terrorism and against claims applicable to the presence of Microbial Matter, or such coverages shall be provided by separate policies or endorsements.
The insurance policies shall also include operations and blanket contractual liability coverage which insures contractual liability under the indemnifications set forth in Section 8.02 below (but such coverage or the amount thereof shall in no way
limit such 

  

 9 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
indemnifications). Upon request, Borrower shall also carry additional insurance or additional amounts of insurance covering Borrower or the Property as
Lender shall reasonably require. 
  
 (c) Form of Policy.
All insurance required under this Section shall be fully paid for, non-assessable, and the policies shall contain such provisions, endorsements, and expiration dates as Lender shall reasonably require. The policies shall be issued by insurance
companies authorized to do business in the Property State, approved by Lender, and must have and maintain a current financial strength rating of “A-, X” (or higher) from A.M. Best or equivalent (or if a rating by A.M. Best is no longer
available, a similar rating from a similar or successor service). In addition, all policies shall (i) include a standard mortgagee clause, without contribution, in the name of Lender, (ii) provide that they shall not be canceled, amended, or
materially altered (including reduction in the scope or limits of coverage) without at least thirty (30) days’ prior written notice to Lender except in the event of cancellation for non-payment of premium, in which case only ten (10) days’
prior written notice will be given to Lender, and (iii) include a waiver of subrogation clause substantially equivalent to the following: “The Company may require from the Insured an assignment of all rights of recovery against any party for
loss to the extent that payment therefor is made by the Company, but the Company shall not acquire any rights of recovery which the Insured has expressly waived prior to loss, nor shall such waiver affect the Insured’s rights under this
policy”. 
  
 (d) Original Policies. Borrower shall
deliver to Lender (i) original or certified copies of all policies (and renewals) required under this Section and (ii) receipts evidencing payment of all premiums on such policies at least thirty (30) days prior to their expiration. If original and
renewal policies are unavailable or if coverage is under a blanket policy, Borrower shall deliver duplicate originals, or, if unavailable, original ACORD 28 and ACORD 25 certificates (or equivalent certificates) evidencing that such policies are in
full force and effect together with certified copies of the original policies. 
  
 (e) General Provisions. Borrower shall not carry separate or additional insurance concurrent in form or contributing in the event of loss with that required under this Section unless endorsed in favor of Lender
as per this Section and approved by Lender in all respects. In the event of foreclosure of this Instrument or other transfer of title or assignment of the Property in extinguishment, in whole or in part, of the Obligations, all right, title, and
interest of Borrower in and to all policies of insurance then in force regarding the Property and all proceeds payable thereunder and unearned premiums thereon shall immediately vest in the purchaser or other transferee of the Property. No approval
by Lender of any insurer shall be construed to be a representation, certification, or warranty of its solvency. No approval by Lender as to the amount, type, or form of any insurance shall be construed to be a representation, certification, or
warranty of its sufficiency. Borrower shall comply with all insurance requirements and shall not cause or permit any condition to exist which would be prohibited by any insurance requirement or would invalidate the insurance coverage on the
Property. 
  
 (f) Waiver of Subrogation. A waiver of
subrogation shall be obtained by Borrower from its insurers and, consequently, Borrower for itself, and on behalf of its insurers, hereby waives and releases any and all right to claim or recover against Lender, its officers, employees, agents and
representatives, for any loss of or damage to Borrower, other Persons, the Property, Borrower’s property or the property of other Persons from any cause required to be insured against by the provisions of this Instrument or otherwise insured
against by Borrower. 
  

 10 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 Section 3.07 Damage and Destruction of Property 
  
 (a) Borrower’s Obligations. If any damage to, loss, or
destruction of the Property occurs (any “Damage”), (i) Borrower shall promptly notify Lender and take all necessary steps to preserve any undamaged part of the Property and (ii) if the insurance proceeds are made available for
Restoration (defined below) (but regardless of whether any proceeds are sufficient for Restoration), Borrower shall promptly commence and diligently pursue to completion the restoration, replacement, and rebuilding of the Property as nearly as
possible to its value and condition immediately prior to the Damage or a Taking (defined below) in accordance with plans and specifications approved by Lender (“Restoration”). Borrower shall comply with other reasonable requirements
established by Lender to preserve the security under this Instrument. 
  
 (b) Lender’s Rights. If any Damage occurs and some or all of it is covered by insurance, then (i) Lender may, but is not obligated to, make proof of loss if not made promptly by Borrower and Lender is authorized and empowered by
Borrower to settle, adjust, or compromise any claims for the Damage; (ii) each insurance company concerned is authorized and directed to make payment directly to Lender for the Damage; and (iii) Lender may apply the insurance proceeds in any order
it determines (1) to reimburse Lender for all Costs (defined below) related to collection of the proceeds and (2) subject to Section 3.07(c) and at Lender’s option, to (A) payment (without any Prepayment Premium) of all or part of the
Obligations, whether or not then due and payable, in the order determined by Lender (provided that if any Obligations remain outstanding after this payment, the unpaid Obligations shall continue in full force and effect and Borrower shall not be
excused in the payment thereof); (B) the cure of any default under the Documents; or (C) the Restoration. Any insurance proceeds held by Lender shall be held without the payment of interest thereon. If Borrower receives any insurance proceeds for
the Damage, Borrower shall promptly deliver the proceeds to Lender. Notwithstanding anything in this Instrument or at law or in equity to the contrary, none of the insurance proceeds paid to Lender shall be deemed trust funds and Lender may dispose
of these proceeds as provided in this Section. Borrower expressly assumes all risk of loss from any Damage, whether or not insurable or insured against. 
  
 (c) Application of Proceeds to Restoration. Lender shall make the Net Proceeds (defined below) available to Borrower for Restoration if: (i) there
shall then be no Event of Default; (ii) Lender shall be satisfied that Restoration can and will be completed within one (1) year after the Damage occurs and at least nine (9) months prior to the maturity of the Note; (iii) Borrower shall have
entered into a general construction contract acceptable in all respects to Lender for Restoration, which contract must include provision for retainage of not less than ten percent (10%) until final completion of the Restoration; and (iv) in
Lender’s reasonable judgment, after Restoration has been completed, and a reasonable period of time, not to exceed nine (9) months, for Borrower to reestablish the pre-damage level of business at the Property has elapsed, the net cash flow of
the Property will be sufficient to cover all costs and operating expenses of the Property, including payments due and reserves required under the Documents. Notwithstanding any provision of this Instrument to the contrary, Lender shall not be
obligated to make any portion of the Net Proceeds available for Restoration unless, at the time of the disbursement request, Lender has determined in its reasonable discretion that (y) Restoration can be completed at a cost which does not exceed the
aggregate of the remaining Net Proceeds and any funds deposited with Lender by Borrower (“Additional Funds”) and (z) the aggregate of any loss of rental income insurance proceeds which the carrier has acknowledged to be payable
(“Rent Loss Proceeds”) and any funds deposited with 

  

 11 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
Lender by Borrower are sufficient to cover all costs and operating expenses of the Property, including payments due and reserves required under the
Documents. 
  
 (d) Disbursement of Proceeds. If Lender
elects or is required to make insurance proceeds available for Restoration, Lender shall, through a disbursement procedure established by Lender, periodically make available to Borrower in installments the net amount of all insurance proceeds
received by Lender after deduction of all reasonable costs and expenses incurred by Lender in connection with the collection and disbursement of such proceeds (“Net Proceeds”) and, if any, the Additional Funds. The amounts
periodically disbursed to Borrower shall be based upon the amounts currently due under the construction contract for Restoration and Lender’s receipt of (i) appropriate lien waivers, (ii) a certification of the percentage of Restoration
completed by an architect or engineer acceptable to Lender, and (iii) title insurance protection against materialmen’s and mechanic’s liens. At Lender’s election, the disbursement of funds may be handled by a disbursing agent selected
by Lender, and such agent’s reasonable fees and expenses shall be paid by Borrower. The Net Proceeds, Rent Loss Proceeds, and any Additional Funds shall constitute additional security for the Loan and Borrower shall execute, deliver, file
and/or record, at its expense, such instruments as Lender requires to grant to Lender a perfected, first-priority security interest in these funds. If the Net Proceeds are made available for Restoration and (x) Borrower refuses or fails to complete
the Restoration, (y) an Event of Default occurs, or (z) the Net Proceeds or Additional Funds are not applied to Restoration, then any undisbursed portion may, at Lender’s option, be applied to the Obligations in any order of priority, and any
application to principal shall be deemed a voluntary prepayment subject to the Prepayment Premium. 
  
 Section 3.08 Condemnation 
  
 (a) Borrower’s Obligations. Borrower will promptly notify Lender of any threatened or instituted proceedings for the condemnation or taking by eminent domain of the Property including any change in any street (whether as to
grade, access, or otherwise)(a “Taking”). Borrower shall, at its expense, (i) diligently prosecute these proceedings, (ii) deliver to Lender copies of all papers served in connection therewith, and (iii) consult and cooperate with
Lender in the handling of these proceedings. No settlement of these proceedings shall be made by Borrower without Lender’s prior written consent. Lender may participate in these proceedings (but shall not be obligated to do so) and Borrower
will sign and deliver all instruments requested by Lender to permit this participation. 
  
 (b) Lender’s Rights to Proceeds. All condemnation awards, judgments, decrees, or proceeds of sale in lieu of condemnation (“Award”) are assigned and shall be paid to Lender. Borrower
authorizes Lender to collect and receive them, to give receipts for them, to accept them in the amount received without question or appeal, and/or to appeal any judgment, decree, or award. Borrower will sign and deliver all instruments requested by
Lender to permit these actions. 
  
 (c) Application of
Award. Lender shall have the right to apply any Award, subject to Section 3.08(d), as per Section 3.07 for insurance proceeds held by Lender, including the waiver of Prepayment Premium. If Borrower receives any Award, Borrower shall promptly
deliver them to Lender. Notwithstanding anything in this Instrument or at law or in equity to the contrary, none of the Award paid to Lender shall be deemed trust funds and Lender may dispose of these proceeds as provided in this Section.

  

 12 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 (d) Application of Award to Restoration. Notwithstanding any contrary provision set forth in this
Instrument, with respect to any portion of the Award that is not for loss of value or property, Lender shall permit the application of the Award to Restoration in accordance with the provisions of Section 3.07 if: (i) no more than (A) twenty percent
(20%) of the gross area of the Improvements or (B) ten percent (10%) of the parking spaces is affected by the Taking, (ii) the amount of the loss does not exceed twenty percent (20%) of the original amount of the Note; (iii) the Taking does not
adversely affect the existing access to the Property from any public right-of-way; (iv) there is no Event of Default at the time of application; (v) after Restoration, the Property and its use will be in compliance with all Laws; (vi) in
Lender’s reasonable judgment, Restoration is practical and can be completed within one (1) year after the Taking and at least one (1) year prior to the maturity of the Note; and (vii) the Tenants listed in Exhibit “D”
(“Major Tenants”) agree in writing to continue their Leases without abatement of rent. Any portion of the Award that is (i) for loss of value or property or (ii) in excess of the cost of any Restoration permitted above, may, in
Lender’s sole discretion, be applied against the Obligations without Prepayment Premium (defined in the Note) or paid to Borrower. 
  
 (e) Effect on the Obligations. Notwithstanding any Taking, Borrower shall continue to pay and perform the Obligations as provided in the Documents.
Any reduction in the Obligations due to application of the Award shall take effect only upon Lender’s actual receipt and application of the Award to the Obligations. If the Property shall have been foreclosed, sold pursuant to any power of sale
granted hereunder, or transferred by deed-in-lieu of foreclosure prior to Lender’s actual receipt of the Award, Lender may apply the Award received to the extent of any deficiency upon such sale and Costs incurred by Lender in connection with
such sale. 
  
 Section 3.09 Liens and Liabilities.
Borrower shall pay, bond, or otherwise discharge all claims and demands of mechanics, materialman, laborers, and others which, if unpaid, might result in a lien or encumbrance on the Property or the Rents (collectively, “Liens”) and
Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by this Instrument and its priority. Nothing in the Documents shall be deemed or construed as constituting the consent or request by
Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Property. Borrower
further agrees that Lender does not stand in any fiduciary relationship to Borrower. All contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall
be treated as equity, excepting only the Affiliate Loans, if any, and all contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be subordinate
and inferior to the rights of Lender under the Documents, excepting only that provided there exists no Event of Default under any of the Documents, and no event has occurred or failure has occurred that with notice, the passage of time, or both,
could constitute an Event of Default under any of the Documents, Borrower may repay the Affiliate Loans, if any, as and when due. 
  
 Section 3.10 Tax and Insurance Deposits. Upon Lender’s written request, following a default under any Document, Borrower shall make
monthly deposits (“Deposits”) with Lender equal to one-twelfth (1/12) of the annual Assessments (except for income taxes, franchise taxes, ground rents, maintenance charges and utility charges) and the premiums for insurance
required under Section 3.06 (the “Insurance Premiums”) together with amounts sufficient to pay these items thirty (30) days before they are due (collectively, the “Impositions”). Lender shall estimate the amount of
the Deposits until ascertainable. At that time, Borrower shall promptly deposit any deficiency. Borrower shall promptly notify Lender of any changes to 

  

 13 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
the amounts, schedules and instructions for payment of the Impositions. Borrower authorizes Lender or its agent to obtain the bills for Assessments directly
from the appropriate tax or governmental authority. All Deposits are pledged to Lender and shall constitute additional security for the Obligations. The Deposits shall be held by Lender without interest (except to the extent required under Laws) and
may be commingled with other funds. If (i) there is no Event of Default at the time of payment, (ii) Borrower has delivered bills or invoices to Lender for the Impositions in sufficient time to pay them when due, (iii) the Deposits are sufficient to
pay the Impositions or Borrower has deposited the necessary additional amount, then Lender shall pay the Impositions prior to their due date. Any Deposits remaining after payment of the Impositions shall, at Lender’s option, be credited against
the Deposits required for the following year or paid to Borrower. If an Event of Default occurs, the Deposits may, at Lender’s option, be applied to the Obligations in any order of priority. Any application to principal shall be deemed a
voluntary prepayment subject to the Prepayment Premium. Borrower shall not claim any credit against the principal and interest due under the Note for the Deposits. Upon an assignment or other transfer of this Instrument, Lender may pay over the
Deposits in its possession to the assignee or transferee and then it shall be completely released from all liability with respect to the Deposits. Borrower shall look solely to the assignee or transferee with respect thereto. This provision shall
apply to every transfer of the Deposits to a new assignee or transferee. Subject to Article V, a transfer of title to the Property shall automatically transfer to the new owner the beneficial interest in the Deposits. Upon full payment and
satisfaction of this Instrument or, at Lender’s option, at any prior time, the balance of the Deposits in Lender’s possession shall be paid over to the record owner of the Land and no other party shall have any right or claim to the
Deposits. Lender may transfer all its duties under this Section to such servicer or financial institution as Lender may periodically designate and Borrower agrees to make the Deposits to such servicer or institution. 
  
 Section 3.11 ERISA 
  
 (a) Borrower understands and acknowledges that, as of the date hereof, the
source of funds from which Lender is extending the Loan will include one or more of the following accounts: (i) an “insurance company general account,” as that term is defined in Prohibited Transaction Class Exemption
(“PTE”) 95-60 (60 Fed. Reg. 35925 (Jul. 12, 1995)), as to which Lender meets the conditions for relief in Sections I and IV of PTE 95-60; (ii) pooled and single client insurance company separate accounts, which are subject to the
provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); and (iii) one or more insurance company separate accounts maintained solely in connection with fixed contractual obligations of the insurance
company, under which the amounts payable or credited to the plan are not affected in any manner by the investment performance of the separate account. 
  
 (b) Borrower represents and warrants to Lender that (i) Borrower is not an “employee benefit plan” as defined in Section 3(3) of ERISA, or a
“governmental plan” within the meaning of Section 3(32) of ERISA; (ii) Borrower is not a “party in interest”, as defined in Section 3(14) of ERISA, other than as a service provider or an affiliate of a service provider, to any
employee benefit plan that has invested in a separate account described in Section 3.11(a)(ii) above, from which funds have been derived to make the Documents, or if so, the execution of the Documents and making of the Loan thereunder do not
constitute nonexempt prohibited transactions under ERISA; (iii) Borrower is not subject to state statutes regulating investments and fiduciary obligations with respect to governmental plans, or if subject to such statutes, is not in violation
thereof in the execution of the Documents and the making of the Loan thereunder; (iv) the assets of the Borrower do not constitute “plan assets” of one or more plans within the meaning of 29 C.F.R. Section 2510.3-101; and (v) one or more
of the following circumstances is true: (1) equity interests in Borrower are publicly offered securities, within the meaning of 29 C.F.R. Section 2510.3-101(b)(2); (2) 

  

 14 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
less than twenty-five percent (25%) of all equity interests in Borrower are held by “benefit plan investors” within the meaning of 29 C.F.R.
Section 2510.3-101(f)(2); or (3) Borrower qualifies as an “operating company,” a “venture capital operating company” or a “real estate operating company” within the meaning of 29 C.F.R. Section 2510.3-101(c), (d) or
(e), respectively. 
  
 (c) Borrower shall deliver to Lender such
certifications and/or other evidence periodically requested by Lender, in its sole discretion, to verify the representations and warranties in Section 3.11(b) above. Failure to deliver these certifications or evidence, breach of these
representations and warranties, or consummation of any transaction which would cause this Instrument or any exercise of Lender’s rights under this Instrument to (i) constitute a non-exempt prohibited transaction under ERISA or (ii) violate
ERISA or any state statute regulating governmental plans (collectively, a “Violation”), shall be an Event of Default. Notwithstanding anything in the Documents to the contrary, no sale, assignment, or transfer of any direct or indirect
right, title, or interest in Borrower or the Property (including creation of a junior lien, encumbrance or leasehold interest) shall be permitted which would, in Lender’s opinion, negate Borrower’s representations in this Section or cause
a Violation. At least fifteen (15) days before consummation of any of the foregoing, Borrower shall obtain from the proposed transferee or lienholder (i) a certification to Lender that the representations and warranties of this Section 3.11 will be
true after consummation and (ii) an agreement to comply with this Section 3.11. 
  
 Section 3.12 Environmental Representations, Warranties, and Covenants 
  
 (a) Environmental Representations and Warranties. Borrower represents and warrants, to the best of Borrower’s knowledge (after due inquiry and investigation) and additionally based upon the environmental
site assessment report of the Property (the “Environmental Report”), that except as fully disclosed in the Environmental Report delivered to and approved by Lender: (i) there are no Hazardous Materials (defined below) or underground
storage tanks affecting the Property (“affecting the Property” shall mean “in, on, under, stored, used or migrating to or from the Property”) except for (A) routine office, cleaning, janitorial and other materials and
supplies necessary to operate the Property for its current use and (B) Hazardous Materials that are (1) in compliance with Environmental Laws (defined below), (2) have all required permits, and (3) are in only the amounts necessary to operate the
Property; (ii) there are no past, present or threatened Releases (defined below) of Hazardous Materials in violation of any Environmental Law affecting the Property; (iii) there is no past or present non-compliance with Environmental Laws or with
permits issued pursuant thereto; (iv) Borrower does not know of, and has not received, any written or oral notice or communication from any person relating to Hazardous Materials affecting the Property; and (v) Borrower has provided to Lender, in
writing, all information relating to environmental conditions affecting the Property known to Borrower or contained in Borrower’s files. “Environmental Law” means any present and future federal, state and local laws, statutes,
ordinances, rules, regulations, standards, policies and other government directives or requirements, as well as common law, that apply to Borrower or the Property and relate to Hazardous Materials including the Comprehensive Environmental Response,
Compensation and Liability Act and the Resource Conservation and Recovery Act. “Hazardous Materials” shall mean petroleum and petroleum products and compounds containing them, including gasoline, diesel fuel and oil; explosives,
flammable materials; radioactive materials; polychlorinated biphenyls (“PCBs”) and compounds containing them; lead and lead-based paint; Microbial Matter, infectious substances, asbestos or asbestos-containing materials in any form
that is or could become friable; underground or above-ground storage tanks, whether empty or containing any substance; any substance the presence of which on the Property is prohibited by any federal, state or local authority; any substance that
requires special handling; and any other material or substance now or in the future defined as a “hazardous 

  

 15 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
substance,” “hazardous material,” “hazardous waste,” “toxic substance,” “toxic pollutant,”
“contaminant,” or “pollutant” within the meaning of any Environmental Law. “Release” of any Hazardous Materials includes any release, deposit, discharge, emission, leaking, spilling, seeping, migrating, pumping,
pouring, escaping, dumping, disposing or other movement of Hazardous Materials. “Microbial Matter” shall mean the presence of fungi or bacterial matter which reproduces through the release of spores or the splitting of cells,
including, but not limited to, mold, mildew and viruses, whether or not such Microbial Matter is living. 
  
 (b) Environmental Covenants. Borrower covenants and agrees that: (i) all use and operation of the Property shall be in compliance with all
Environmental Laws and required permits; (ii) there shall be no Releases of Hazardous Materials affecting the Property; (iii) there shall be no Hazardous Materials affecting the Property except (A) routine office, cleaning and janitorial supplies,
(B) in compliance with all Environmental Laws, (C) with all required permits, and (D) (1) in only the amounts necessary to operate the Property or (2) fully disclosed to and approved by Lender in writing; (iv) Borrower shall keep the Property free
and clear of all liens and encumbrances imposed by any Environmental Laws due to any act or omission by Borrower or any person (the “Environmental Liens”); (v) Borrower shall, at its sole expense, fully and expeditiously cooperate
in all activities in Section 3.12(c) including providing all relevant information and making knowledgeable persons available for interviews; (vi) Borrower shall, at its sole expense, (A) perform any environmental site assessment or other
investigation of environmental conditions at the Property upon Lender’s request based on Lender’s reasonable belief that the Property is not in compliance with all Environmental Laws, (B) share with Lender the results and reports and
Lender and the Indemnified Parties (defined below) shall be entitled to rely on such results and reports, and (C) complete any remediation of Hazardous Materials affecting the Property or other actions required by any Environmental Laws; (vii)
Borrower shall not allow any Tenant or other user of the Property to violate any Environmental Law; (viii) Borrower shall immediately notify Lender in writing after it becomes aware of (A) the presence, Release, or threatened Release of Hazardous
Materials affecting the Property, (B) any non-compliance of the Property with any Environmental Laws, (C) any actual or potential Environmental Lien, (D) any required or proposed remediation of environmental conditions relating to the Property, or
(E) any written or oral communication or notice from any person relating to Hazardous Materials, and (ix) if an Asbestos Operation and Maintenance Plan, Mold Operation and Maintenance Plan, and any other Operation and Maintenance Plan (collectively,
the “O&M Plan”) is in effect (or required to be implemented by Lender) at the time of the closing of the Loan, then Borrower shall, at its sole expense, implement and continue the O&M Plan (with any modifications required to comply
with applicable Laws) until payment and full satisfaction of the Obligations. While any portion of the Loan is outstanding, upon the request of Lender, which request shall be made upon Lender’s reasonable determination that the governing law or
applicable facts or circumstances respecting the Property warrant updated asbestos and/or mold survey(s) of the Property, at Borrower’s sole cost and expense, Borrower shall conduct such updated asbestos and/or an updated mold survey(s) of the
Property. Each such survey shall be conducted by a consultant acceptable to Lender who shall determine the condition of the asbestos and/or mold at the Property, and whether the applicable O&M Plan should be revised or any other measures taken
to ensure the continued safe condition of the Property. Borrower shall deliver to Lender a copy of such survey and shall enter into the revised O&M Plan, and Borrower shall certify to Lender in writing, no later than thirty (30) days after
Borrower’s receipt of such survey, that Borrower has complied with all of the recommendations of the consultant contained in the survey and the revised O&M Plan. Any failure of Borrower to perform its obligations under this Section 3.12
shall constitute bad faith waste of the Property. 
  

 16 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 (c) Lender’s Rights. Lender and any person designated by Lender may enter the Property to
assess the environmental condition of the Property and its use including (i) conducting any environmental assessment or audit (the scope of which shall be determined by Lender) and (ii) taking samples of soil, groundwater or other water, air, or
building materials, and conducting other invasive testing at all reasonable times when (A) a default has occurred under the Documents, (B) Lender reasonably believes that a Release has occurred or the Property is not in compliance with all
Environmental Laws, or (C) the Loan is being considered for sale. Borrower shall cooperate with and provide access to Lender and such person. 
  
 Section 3.13 Electronic Payments. Unless directed otherwise in writing by Lender, all payments due under the Documents shall be made by
electronic funds transfer debit entries to Borrower’s account at an Automated Clearing House member bank satisfactory to Lender or by similar electronic transfer process selected by Lender. Each payment due under the Documents shall be
initiated by Lender through the Automated Clearing House network (or similar electronic process) for settlement on the Due Date (as defined in the Note) for the payment. Borrower shall, at Borrower’s sole cost and expense, direct its bank in
writing to permit such electronic fund transfer debit entries (or similar electronic transfer) to be made by Lender. Prior to each payment Due Date under the Documents, Borrower shall deposit and/or maintain sufficient funds in Borrower’s
account to cover each debit entry. Any charges or costs, if any, by Borrower’s bank for the foregoing shall be paid by Borrower. 
  
 Section 3.14 Inspection. Borrower shall allow Lender and any person designated by Lender to enter upon the Property and conduct tests or
inspect the Property at all reasonable times. Borrower shall assist Lender and such person in effecting said inspection. 
  
 Section 3.15 Records, Reports, and Audits 
  
 (a) Records and Reports. Borrower shall maintain complete and accurate books and records with respect to all operations of or transactions
involving the Property. Annually, Borrower shall furnish Lender financial statements for the most current fiscal year (including a schedule of all related Obligations and contingent liabilities) for (i) Borrower, (ii) any guarantors or sureties of
the Note, and (iii) any Major Tenants, to the extent available through commercially reasonable efforts by Borrower. Annually (or quarterly upon Lender’s request), Borrower shall furnish Lender (i) operating statements showing cash flow and
capital expenditures for the Property including income and expenses (before and after Obligations service), major capital improvements, a schedule showing tenant sales and percentage rent for retail properties where sales are reported, and the
average daily rate and average daily occupancy for hotel properties; (ii) copies of paid tax receipts for the Property; (iii) a certified rent roll including security deposits held, the expiration of the terms of the Leases, and identification and
explanation of any Tenants in default; (iv) a budget showing projected income and expenses (before and after Obligations service) for the next twelve (12) month budget period; (v) any appraisals of the Property performed during the previous year,
and (vi) upon Lender’s request, (A) a schedule showing the Borrower’s tax basis in the Property, (B) the distribution of economic interests in the Property, and (C) copies of any other loan documents affecting the Property. 
  
 (b) Delivery of Reports. All of the reports, statements, and items
required under this Section shall be (i) certified as being true, correct, and accurate by an authorized person, partner, or officer of the delivering party or, at the deliverer’s option, audited by a Certified Public Accountant; (ii)
satisfactory to Lender in form and substance; and (iii) delivered within (A) ninety (90) days after the end of Borrower’s fiscal year for annual reports and (B) fifteen (15) days after the end of each calendar quarter for quarterly reports. If
any 

  

 17 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
one report, statement, or item is not received by Lender on its due, a late fee of Five Hundred and No/100 Dollars ($500.00) per month shall be due and
payable by Borrower. If any one report, statement, or item is not received within thirty (30) days of its due date, Lender may immediately declare an Event of Default under the Documents. Borrower shall (i) provide Lender with such additional
financial, management, or other information regarding Borrower, or the Property, as Lender may reasonably request and (ii) upon Lender’s request, deliver all items required by Section 3.15 in an electronic format (i.e. on computer disks) or by
electronic transmission acceptable to Lender. 
  
 (c)
Inspection of Records. Borrower shall allow Lender or any person designated by Lender to examine, audit, and make copies of all such books and records and all supporting data at the place where these items are located at all reasonable times
after reasonable advance notice; provided that no notice shall be required after any default under the Documents. Borrower shall assist Lender in effecting such examination. Upon five (5) days’ prior notice, Lender may inspect and make copies
of Borrower’s or any manager or managing member of Borrower’s income tax returns with respect to the Property for the purpose of verifying any items referenced in this Section. 
  
 Section 3.16 Borrower’s Certificates. Within ten (10) days after Lender’s request, Borrower shall
furnish a written certification to Lender and any Investors (defined below) as to (a) the amount of the Obligations outstanding; (b) the interest rate, terms of payment, and maturity date of the Note; (c) the date to which payments have been paid
under the Note; (d) whether any offsets or defenses exist against the Obligations and a detailed description of any listed; (e) whether all Leases are in full force and effect and have not been modified (or if modified, setting forth all
modifications); (f) the date to which the Rents have been paid; (g) whether, to the best knowledge of Borrower, any defaults exist under the Leases and a detailed description of any listed; (h) the security deposit held by Borrower under each Lease
and that such amount is the amount required under such Lease; (i) whether there are any defaults (or events which with the passage of time and/or notice would constitute a default) under the Documents and a detailed description of any listed; (j)
whether the Documents are in full force and effect; and (k) any other matters reasonably requested by Lender related to the Leases, the Obligations, the Property, or the Documents. For all non-residential properties and promptly upon Lender’s
request, Borrower shall use its best efforts to deliver a written certification to Lender and Investors from Tenants specified by Lender that: (a) their Leases are in full force and effect; (b) there are no defaults (or events which with the passage
of time and/or notice would constitute a default) under their Leases or a detailed description of any listed; (c) none of the Rents have been paid more than one month in advance; (d) there are no offsets or defenses against the Rents or a detailed
description of any listed; and (e) any other matters reasonably requested by Lender related to the Leases; provided, however, that Borrower shall not have to pay money to a Tenant to obtain such certification, but it will deliver a landlord’s
certification for any certification it cannot obtain. 
  
 Section 3.17 Full
Performance Required; Survival of Warranties. All representations and warranties of Borrower in the Loan application or made in connection with the Loan shall survive the execution and delivery of the Documents and shall remain continuing
warranties, and representations of Borrower. 
  
 Section 3.18 Additional
Security. No other security now existing or taken later to secure the Obligations shall be affected by the execution of the Documents and all additional security shall be held as cumulative. The taking of additional security, execution of
partial releases, or extension of the time of payment obligations of Borrower shall not diminish the effect and lien of this Instrument and shall not affect the liability or obligations of any maker or guarantor. Neither the acceptance of the
Documents nor their 

  

 18 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
enforcement shall prejudice or affect Lender’s right to realize upon or enforce any other security now or later held by Lender. Lender may enforce the
Documents or any other security in such order and manner as it/either of them may determine in its/their discretion. 
  
 Section 3.19 Further Acts. Borrower shall take all necessary actions to (i) keep valid and effective the lien and rights of Lender under the Documents and
(ii) protect the lawful owner of the Documents. Promptly upon request by Lender, and at Borrower’s expense, Borrower shall execute additional instruments and take such actions as Lender reasonably believes are necessary or desirable to (a)
maintain or grant Lender a first-priority, perfected lien on the Property, (b) correct any error or omission in the Documents, and (c) affect the intent of the Documents, including filing/recording the Documents, additional mortgages, financing
statements, and other instruments. 
  
 Section 3.20 Capital Lease.
Borrower shall not, without first obtaining Lender’s written consent in each case, enter into (i) any lease for capital goods and/or equipment (each, a “Capital Lease”) that covers goods and/or equipment, which, if purchased,
would exceed $200,000.00 in value, or (ii) any Capital Lease that, when aggregated with all other Capital Leases for the Property, covers goods and/or equipment, which, if purchased, would exceed $200,000.00 in value. 
  
 ARTICLE IV - ADDITIONAL ADVANCES; EXPENSES; SUBROGATION 
  
 Section 4.01 Expenses and Advances. Borrower shall pay all reasonable
appraisal, recording, filing, registration, brokerage, abstract, title insurance (including premiums), title searches and examinations, surveys and similar data and assurances with respect to title, U.C.C. search, escrow, attorneys’ (both
in-house staff and retained attorneys), engineers’, environmental engineers’, environmental testing, and architects’ fees, costs (including travel), expenses, and disbursements incurred by Borrower or Lender and reasonable fees
charged by Lender in connection with the granting, closing, servicing, and enforcement of (a) the Loan and Documents or (b) attributable to Borrower as owner of the Property. The term “Costs” shall mean any of the foregoing incurred in
connection with (a) any default by Borrower under the Documents, (b) the servicing of the Loan, or (c) the exercise, enforcement, compromise, defense, litigation, or settlement of any of Lender’s rights or remedies under the Documents or
relating to the Loan or the Obligations. If Borrower fails to pay any amounts or perform any actions required under the Documents, Lender may (but shall not be obligated to) advance sums to pay such amounts or perform such actions. Borrower grants
Lender the right to enter upon and take possession of the Property to prevent or remedy any such failure and the right to take such actions in Borrower’s name. No advance or performance shall be deemed to have cured a default by Borrower. All
(a) sums advanced by or payable to Lender per this Section or under applicable Laws, (b) except as expressly provided in the Documents, payments due under the Documents which are not paid in full when due, and (c) all Costs, shall: (i) be deemed
demand obligations, (ii) bear interest at the applicable interest rate specified in the Note, which shall be the Default Rate unless prohibited by Laws, until paid if not paid on demand, (iii) be part of, together with such interest, the
Obligations, and (iv) be secured by the Documents. Lender, upon making any such advance, shall also be subrogated to rights of the person receiving such advance. 
  
 Section 4.02 Subrogation. If any proceeds of the Note were used to extinguish, extend or renew any indebtedness on the
Property, then, to the extent of the funds so used, (a) Lender shall be subrogated to all rights, claims, liens, titles and interests existing on the Property held by the holder of such indebtedness and (b) these rights, claims, liens, titles and
interests are not waived but rather shall (i) continue in full force and 

  

 19 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
effect in favor of Lender and (ii) are merged with the lien and security interest created by the Documents as cumulative security for the payment and
performance of the Obligations. 
  
 ARTICLE V - SALE, TRANSFER,
OR ENCUMBRANCE OF THE PROPERTY 
  
 Section 5.01
Due-on-Sale or Encumbrance. It shall be an Event of Default and, at the sole option of Lender, Lender may accelerate the Obligations and the entire Obligations (including the Prepayment Premium) shall become immediately due and payable, if,
without Lender’s prior written consent (which may be withheld for any or no reason, including the possibility of an ERISA violation or the proposed transferee’s failure to agree in writing to Lender increasing the interest payable on the
Obligations to any rate, changing any other terms (including maturity) of the Obligations or Documents, or requiring the payment of a transfer fee) any of the following shall occur: 
  
 (a) Borrower shall sell, convey, assign, transfer, dispose of or be divested of its title to, convey security title to the
Property, mortgage, encumber or cause to be encumbered (except for the imposition of mechanics’ or materialmens’ liens) the Property or any interest therein, in any manner or way, whether voluntary or involuntary (except only pursuant to
the One-Time Transfer provision set forth in Section 13 of the Note); or 
  
 (b) in the event of any merger, consolidation, sale, transfer, assignment, or dissolution involving all or substantially all of the assets of Borrower, or any managing member of the original Borrower, except only a
merger of another publicly traded entity into Borrower, Eagle Hospitality Properties Trust, Inc., a Maryland corporation (“EHPTI”), or EHP Operating Partnership, L.P., a Maryland limited partnership (“EHPOP”), or a
merger of Borrower, EHPTI or EHPOP into another publicly traded entity, provided, however that the surviving entity (i) is equal to or larger in net assets and value than Borrower, (ii) has a credit quality and the experience in managing similar
properties equal to or greater than Borrower in the judgment of Lender, and (iii) assumes all obligations of Borrower with respect to the Loan pursuant to an assumption agreement in form and content approved by Lender; or 
  
 (c) in the event of the assignment, transfer, pledge, voluntary or
involuntary sale, or encumbrance (or any of the foregoing at one time or over any period of time), except only the transfer of operating partnership units in EHPOP in connection with the purchase of assets or properties by EHPTI or EHPOP, of:

  
 (i) 25% or more of (1) the ownership
interests in Borrower existing as of the date of this Instrument, regardless of the type or form of entity of Borrower, (2) the voting stock or ownership interest of any corporation or limited liability company which is, respectively, managing
member of Borrower or any corporation or limited liability company directly or indirectly owning 25% or more of any such corporation or limited liability company existing as of the date of this Instrument, (3) the ownership interests of any owner of
twenty-five percent (25%) or more of the beneficial interests of Borrower if Borrower is a trust existing as of the date of this Instrument; or 
  
 (ii) any managing member’s interest or general partner’s interest in (1) Borrower, (2) a partnership or limited liability
company which is in Borrower’s chain of ownership and which is derivatively liable for the obligations of Borrower, or (3) any general partner or managing member who has the right to participate directly or indirectly in the control of the
management or operations of Borrower; or 
  

 20 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 (d) in the event of the conversion of any managing member’s interest in Borrower to a non-managing
member interest; or 
  
 (e) in the event of any change, removal,
or resignation of any managing member of Borrower; or 
  
 (f) in
the event of any change, removal, addition or resignation of a managing member (or if no managing member, any member) if Borrower is a limited liability company; or 
  
 (g) shall obtain any unsecured debt except for customary and reasonable short-term trade payables. 
  
 This provision shall not apply to the following: (i) transfers under any will or applicable
law of descent, (ii) transfers of the Property to any entity that is directly or indirectly 51% or more owned by EHPTI or EHPOP, (iii) transfers of any interests in Borrower to any entity that is directly or indirectly wholly owned by EHPOP, (iv)
unsecured, fully subordinated loans (“Affiliate Loans”) to Borrower from EHPTI or EHPOP (the “Affiliate Loan Lender”) that expressly provide that the proceeds of the Affiliate Loan are to be used to cover operating
deficits, pay trade payables, make interest payments or make improvements or repairs to the Property; provided that (x) the Borrower shall notify Lender in writing within thirty (30) days of the funding of any Affiliate Loan, and (y) within thirty
(30) days of such Affiliate Loan notice, the Affiliate Loan Lender shall expressly assign to Lender any and all rights such Affiliate Loan Lender may have in any bankruptcy or similar proceeding involving the Borrower and agree that it shall not
exercise any rights or remedies it might otherwise have with regard to such Affiliate Loan until such time as the Loan is pain in full. 
  
 ARTICLE VI - DEFAULTS AND REMEDIES 
  
 Section 6.01 Events of Default The following shall be an “Event of Default”: 
  
 (a) any payment required under any of the Documents is not made when due and
such failure continues for five (5) days after written notice from Lender; provided, however, that if Lender gives one (1) notice of default within any twelve (12) month period, Borrower shall have no further right to any notice of monetary
default during that twelve (12) month period; 
  
 (b) except for
defaults listed in the other subsections of this Section 6.01, any failure to perform or comply for any reason with any other provision contained in any of the Documents and such failure is not cured within thirty (30) days of Lender providing
written notice thereof (the “Grace Period”); provided, however, that Lender may extend the Grace Period up to an additional sixty (60) days (for a total of ninety (90) days from the date of default) if (i) Borrower immediately
commences and diligently pursues the cure of such default and delivers (within the Grace Period) to Lender a written request for more time and (ii) Lender determines in good faith that (1) such default cannot be cured within the Grace Period but can
be cured within ninety (90) days after the default, (2) no lien or security interest created by the Documents will be impaired prior to completion of such cure, and (3) Lender’s immediate exercise of any remedies provided 

  

 21 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
hereunder or by law is not necessary for the protection or preservation of the Property or Lender’s security interest ; 
  
 (c) if any representation made (i) in connection with the Loan or Obligations
or (ii) in the Loan application or Documents shall be false or misleading in any material respect; 
  
 (d) if any default under Article V occurs; 
  
 (e) if any Borrower under the Documents or if EHPTI shall (i) become insolvent, (ii) make a transfer in fraud of creditors, (iii) make an assignment for
the benefit of its creditors, (iv) not be able to pay its debts as such debts become due, or (v) admit in writing its inability to pay its debts as they become due; 
  
 (f) if any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding, or any other proceedings for the
relief of debtors, is instituted by or against Borrower, and, if instituted against Borrower, is allowed, consented to, or not dismissed within the earlier to occur of (i) ninety (90) days after such institution or (ii) the filing of an order for
relief; 
  
 (g) if any of the events in Sections 6.01 (e) or (f)
shall occur with respect to any (i) managing member of Borrower, (ii) general partner of Borrower, or (iii) guarantor of payment or performance of any of the Obligations; 
  
 (h) if the Property shall be taken, attached, or sequestered on execution or other process of law in any action against
Borrower; 
  
 (i) if any default occurs under the Environmental
Indemnity (defined below) and such default is not cured within any applicable grace period in that document; 
  
 (j) if Borrower shall fail at any time to obtain, maintain, renew, or keep in force the insurance policies required by Section 3.06 within ten (10) days
after written notice; 
  
 (k) if Borrower shall be in default
under any other mortgage or security agreement covering any part of the Property, whether it be superior or junior in lien to this Instrument; 
  
 (l) if any claim of priority (except based upon a Permitted Encumbrance) to the Documents by title, lien, or otherwise shall be upheld by any court of
competent jurisdiction or shall be consented to by Borrower; or 
  
 (m) (i) the consummation by Borrower of any transaction which would cause (A) the Loan or any exercise of Lender’s rights under the Documents to constitute a non-exempt prohibited transaction under ERISA or (B) a violation of a state
statute regulating governmental plans; (ii) the failure of any representation in Section 3.11 to be true and correct in all respects; or (iii) the failure of Borrower to provide Lender with the written certifications required by Section 3.11.

  

 22 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 It is expressly acknowledged and agreed by Borrower that any Event of Default under any Document shall constitute an
immediate Event of Default under this Instrument, and Lender shall have no obligation to give and Borrower shall have no right to receive, any additional notice and/or opportunity to cure said Event of Default. 
  
 Section 6.02 Remedies. If an Event of Default occurs, Lender or any person
designated by Lender may (but shall not be obligated to) take any action (separately, concurrently, cumulatively, and at any time and in any order) permitted under any Laws, without notice, demand, presentment, or protest (all of which are hereby
waived), to protect and enforce Lender’s rights under the Documents or Laws including the following actions: 
  
 (a) accelerate and declare the entire unpaid Obligations immediately due and payable, except for defaults under Section 6.01 (f), (g), or (h) which shall
automatically make the Obligations immediately due and payable; 
  
 (b) judicially or otherwise, (i) completely foreclose this Instrument or (ii) partially foreclose this Instrument for any portion of the Obligations due and the lien and security interest created by this Instrument shall continue unimpaired
and without loss of priority as to the remaining Obligations not yet due; 
  
 (c) sell for cash or upon credit the Property and all right, title and interest of Borrower therein and rights of redemption thereof, pursuant to power of sale; 
  
 (d) recover judgment on the Note either before, during or after any
proceedings for the enforcement of the Documents and without any requirement of any action being taken to (i) realize on the Property or (ii) otherwise enforce the Documents; 
  
 (e) seek specific performance of any provisions in the Documents; 
  
 (f) apply for the appointment of a receiver, custodian, trustee, liquidator,
or conservator of the Property without (i) notice to any person, (ii) regard for (A) the adequacy of the security for the Obligations or (B) the solvency of Borrower or any person liable for the payment of the Obligations; and Borrower and any
person so liable waives or shall be deemed to have waived the foregoing and any other objections to the fullest extent permitted by Laws and consents or shall be deemed to have consented to such appointment; 
  
 (g) with or without entering upon the Property, (i) exclude Borrower and any
person from the Property without liability for trespass, damages, or otherwise, (ii) take possession of, and Borrower shall surrender on demand, all books, records, and accounts relating to the Property, (iii) give notice to Tenants or any person,
make demand for, collect, receive, sue for, and recover in its own name all Rents and cash collateral derived from the Property; (iv) use, operate, manage, preserve, control, and otherwise deal with every aspect of the Property including (A)
conducting its business, (B) insuring it, (C) making all repairs, renewals, replacements, alterations, additions, and improvements to or on it, (D) completing the construction of any Improvements in manner and form as Lender deems advisable, and (E)
executing, modifying, enforcing, and terminating new and existing Leases on such terms as Lender deems advisable and evicting any Tenants in default; (v) apply the receipts from the Property to payment of the Obligations, in any order or priority
determined by Lender, after first deducting all Costs, expenses, and liabilities incurred by Lender in 

  

 23 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
connection with the foregoing operations and all amounts needed to pay the Impositions and other expenses of the Property, as well as just and reasonable
compensation for the services of Lender and its attorneys, agents, and employees; and/or (vi) in every case in connection with the foregoing, exercise all rights and powers of Borrower or Lender with respect to the Property, either in
Borrower’s name or otherwise; 
  
 (h) release any portion of
the Property for such consideration, if any, as Lender may require without, as to the remainder of the Property, impairing or affecting the lien or priority of this Instrument or improving the position of any subordinate lienholder with respect
thereto, except to the extent that the Obligations shall have been actually reduced, and Lender may accept by assignment, pledge, or otherwise any other property in place thereof as Lender may require without being accountable for so doing to any
other lienholder; 
  
 (i) apply any Deposits to the following
items in any order and in Lender’s sole discretion: (A) the Obligations, (B) Costs, (C) advances made by Lender under the Documents, and/or (D) Impositions; 
  
 (j) take all actions permitted under the U.C.C. of the Property State including (i) the right to take possession of all
tangible and intangible personal property now or hereafter included within the Property (“Personal Property”) and take such actions as Lender deems advisable for the care, protection and preservation of the Personal Property and
(ii) request Borrower at its expense to assemble the Personal Property and make it available to Lender at a convenient place acceptable to Lender. Any notice of sale, disposition or other intended action by Lender with respect to the Personal
Property sent to Borrower at least five (5) days prior to such action shall constitute commercially reasonable notice to Borrower; or 
  
 (k) take any other action permitted under any Laws. 
  
 If Lender exercises any of its rights under Section 6.02(g), Lender shall not (a) be deemed to have entered upon or taken possession of the Property except upon the
exercise of its option to do so, evidenced by its demand and overt act for such purpose; (b) be deemed a beneficiary or mortgagee in possession by reason of such entry or taking possession; nor (c) be liable (i) to account for any action taken
pursuant to such exercise other than for Rents actually received by Lender, (ii) for any loss sustained by Borrower resulting from any failure to lease the Property, or (iii) any other act or omission of Lender except for losses caused by
Lender’s willful misconduct or gross negligence. Borrower hereby consents to, ratifies, and confirms the exercise by Lender of its rights under this Instrument and hereby appoints Lender, upon the occurrence of any Event of Default, or any
event or failure that with notice, or the passage of time, or both, could constitute an Event of Default under any Document, as its attorney-in-fact, which appointment shall be deemed to be coupled with an interest and irrevocable, for such
purposes. 
  
 Section 6.03 Expenses. All Costs, expenses, or other
amounts paid or incurred by Lender in the exercise of its rights under the Documents, together with interest thereon at the applicable interest rate specified in the Note, which shall be the Default Rate unless prohibited by Laws, shall be (a) part
of the Obligations, (b) secured by this Instrument, and (c) allowed and included as part of the Obligations in any foreclosure, decree for sale, or other judgment or decree enforcing Lender’s rights under the Documents. 
  
 Section 6.04 Rights Pertaining to Sales. To the extent permitted under (and in
accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under Article VI, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or
otherwise: (a) Lender may conduct multiple sales of any part of the Property in separate tracts or in its 

  

 24 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
entirety and Borrower waives any right to require otherwise; (b) any sale may be postponed or adjourned by public announcement at the time and place
appointed for such sale or for such postponed or adjourned sale without further notice; and (c) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting
therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. 
  
 Section 6.05 Applications of Proceeds. Any proceeds received from any sale or disposition under Article VI or otherwise, together with any other sums held by Lender, shall, except as expressly provided
to the contrary, be applied in the order determined by Lender to: (a) payment of all Costs and expenses of any enforcement action or foreclosure sale, including interest thereon at the applicable interest rate specified in the Note, which shall be
the Default Rate unless prohibited by Laws, (b) all taxes, Assessments, and other charges unless the Property was sold subject to these items; (c) payment of the Obligations in such order as Lender may elect; (d) payment of any other sums secured or
required to be paid by Borrower; and (e) payment of the surplus, if any, to any person lawfully entitled to receive it. Borrower and Lender intend and agree that during any period of time between any foreclosure judgment that may be obtained and the
actual foreclosure sale that the foreclosure judgment will not extinguish the Documents or any rights contained therein including the obligation of Borrower to pay all Costs and to pay interest at the applicable interest rate specified in the Note,
which shall be the Default Rate unless prohibited by Laws. 
  
 Section 6.06
Additional Provisions as to Remedies. No failure, refusal, waiver, or delay by Lender to exercise any rights under the Documents upon any default or Event of Default shall impair Lender’s rights or be construed as a waiver of, or
acquiescence to, such or any subsequent default or Event of Default. No recovery of any judgment by Lender and no levy of an execution upon the Property or any other property of Borrower shall affect the lien and security interest created by this
Instrument and such liens, rights, powers, and remedies shall continue unimpaired as before. Lender may resort to any security given by this Instrument or any other security now given or hereafter existing to secure the Obligations, in whole or in
part, in such portions and in such order as Lender may deem advisable, and no such action shall be construed as a waiver of any of the liens, rights, or benefits granted hereunder. Acceptance of any payment after any Event of Default shall not be
deemed a waiver or a cure of such Event of Default and such acceptance shall be deemed an acceptance on account only. If Lender has started enforcement of any right by foreclosure, sale, entry, or otherwise and such proceeding shall be discontinued,
abandoned, or determined adversely for any reason, then Borrower and Lender shall be restored to their former positions and rights under the Documents with respect to the Property, subject to the lien and security interest hereof. 
  
 Section 6.07 Waiver of Rights and Defenses. To the fullest extent not
prohibited under Laws, Borrower (a) will not at any time insist on, plead, claim, or take the benefit of any statute or rule of law now or later enacted providing for any stay, extension, moratorium, or any statute of limitations; (b) for itself,
its successors and assigns, and for any person ever claiming an interest in the Property (other than Lender), waives and releases all rights of redemption, reinstatement, notice of intention to mature or declare due the whole of the Obligations, all
rights to a marshaling of the assets of Borrower, including the Property, or to a sale in inverse order of alienation, in the event of foreclosure of the liens and security interests created under the Documents; (c) shall not be relieved of its
obligation to pay the Obligations as required in the Documents nor shall the lien or priority of the Documents be impaired by any agreement renewing, extending, or modifying the time of payment or the provisions of the Documents (including a
modification of any interest rate), unless expressly released, discharged, or modified by such agreement. Regardless of consideration and without any notice to or consent by the holder of any subordinate lien, security interest, encumbrance, right,
title, or interest in or to the Property, Lender may (a) release any person liable for 

  

 25 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
payment of the Obligations or any portion thereof or any part of the security held for the Obligations or (b) modify any of the provisions of the Documents
without impairing or affecting the Documents or the lien, security interest, or the priority of the modified Documents as security for the Obligations over any such subordinate lien, security interest, encumbrance, right, title, or interest.

  
 ARTICLE VII - SECURITY AGREEMENT 
  
 Section 7.01 Security Agreement. This Instrument constitutes both a real
property mortgage and a “security agreement” within the meaning of the U.C.C. The Property includes real and personal property and all tangible and intangible rights and interest of Borrower in the Property. Borrower grants to Lender, as
security for the Obligations, a security interest in the Personal Property to the fullest extent that the same may be subject to the U.C.C. Borrower authorizes Lender to file any financing or continuation statements and amendments thereto relating
to the Personal Property without the signature of Borrower if permitted by Laws. 
  
 ARTICLE VIII - LIMITATION ON PERSONAL LIABILITY AND INDEMNITIES 
  
 Section 8.01 Limited Recourse Liability. The provisions of Paragraph 9 and Paragraph 10 of the Note are incorporated into this Instrument as if such provisions were set forth in their
entirety in this Instrument. 
  
 Section 8.02 General
Indemnity. Borrower agrees that while Lender has no liability to any person in tort or otherwise as lender and that Lender is not an owner or operator of the Property, Borrower shall, at its sole expense, protect, defend, release,
indemnify and hold harmless (“indemnify”) the Indemnified Parties (defined below) from any Losses (defined below) imposed on, incurred by, or asserted against the Indemnified Parties, directly or indirectly, arising out of or in
connection with the Property, Loan, or Documents, including Losses; provided, however, that the foregoing indemnities shall not apply to any Losses caused by the gross negligence or willful misconduct of the Indemnified Parties. The term
“Losses” shall mean any claims, suits, liabilities (including strict liabilities), actions, proceedings, obligations, debts, damages, losses, Costs, expenses, fines, penalties, charges, fees, judgments, awards, and amounts paid in
settlement of whatever kind including attorneys’ fees (both in-house staff and retained attorneys) and all other costs of defense. The term “Indemnified Parties” shall mean (a) Lender, (b) any prior owner or holder of the Note,
(c) any existing or prior servicer of the Loan, (d) the officers, directors, shareholders, partners, members, employees and trustees of any of the foregoing, and (e) the heirs, legal representatives, successors and assigns of each of the foregoing.

  
 Section 8.03 Transaction Taxes Indemnity. Borrower shall, at its
sole expense, indemnify the Indemnified Parties from all Losses imposed upon, incurred by, or asserted against the Indemnified Parties or the Documents relating to Transaction Taxes. 
  
 Section 8.04 ERISA Indemnity. Borrower shall, at its sole expense, indemnify the Indemnified Parties against all Losses
imposed upon, incurred by, or asserted against the Indemnified Parties (a) as a result of a Violation, (b) in the investigation, defense, and settlement of a Violation, (c) as a result of a breach of the representations in Section 3.11 or default
thereunder, (d) in correcting any prohibited transaction or the sale 

  

 26 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
of a prohibited loan, and (e) in obtaining any individual prohibited transaction exemption under ERISA that may be required, in Lender’s sole
discretion. 
  
 Section 8.05 Environmental Indemnity. Borrower and
other persons, if any, have executed and delivered the Environmental Indemnity Agreement dated the date hereof to Lender (“Environmental Indemnity”). 
  
 Section 8.06 Duty to Defend, Costs and Expenses. Upon request, whether Borrower’s obligation to indemnify Lender arises
under Article VIII or in the Documents, Borrower shall defend the Indemnified Parties (in Borrower’s or the Indemnified Parties’ names) by attorneys and other professionals approved by the Indemnified Parties. Notwithstanding the
foregoing, the Indemnified Parties may, in their sole discretion, engage their own attorneys and professionals to defend or assist them and, if the attorneys selected by Borrower are not defending the claim(s) with all appropriate diligence and
strategy, as reasonably determined by the Indemnified Parties, then the Indemnified Parties’ attorneys shall control the resolution of any claims or proceedings. Upon demand, Borrower shall pay or, in the sole discretion of the Indemnified
Parties, reimburse and/or indemnify the Indemnified Parties for all Costs imposed on, incurred by, or asserted against the Indemnified Parties by reason of any items set forth in this Article VIII and/or the enforcement or preservation of the
Indemnified Parties’ rights under the Documents. Any amount payable to the Indemnified Parties under this Section shall (a) be deemed a demand obligation, (b) be part of the Obligations, (c) bear interest at the applicable interest rate
specified in the Note, which shall be the Default Rate unless prohibited by Laws, until paid if not paid on demand, and (d) be secured by this Instrument. 
  
 Section 8.07 Recourse Obligation and Survival. Notwithstanding anything to the contrary in the Documents and in addition to the recourse obligations in the
Note, the obligations of Borrower under Sections 8.03, 8.04, 8.05, and 8.06 shall be a full recourse obligation of Borrower, shall not be subject to any limitation on personal liability in the Documents, and shall survive (a) repayment of the
Obligations, (b) any termination, satisfaction, assignment or foreclosure of this Instrument, (c) the acceptance by Lender (or any nominee) of a deed in lieu of foreclosure, (d) a plan of reorganization filed under the Bankruptcy Code, or (e) the
exercise by the Lender of any rights in the Documents. Borrower’s obligations under Article VIII shall not be affected by the absence or unavailability of insurance covering the same or by the failure or refusal by any insurance carrier to
perform any obligation under any applicable insurance policy. 
  
 ARTICLE IX - ADDITIONAL PROVISIONS 
  
 Section 9.01 Usury
Savings Clause. All agreements in the Documents are expressly limited so that in no event whatsoever shall the amount paid or agreed to be paid under the Documents for the use, forbearance, or detention of money exceed the highest lawful
rate permitted by Laws. If, at the time of performance, fulfillment of any provision of the Documents shall involve transcending the limit of validity prescribed by Laws, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit
of such validity. If Lender shall ever receive as interest an amount which would exceed the highest lawful rate, the receipt of such excess shall be deemed a mistake and (a) shall be canceled automatically or (b) if paid, such excess shall be (i)
credited against the principal amount of the Obligations to the extent permitted by Laws or (ii) rebated to Borrower if it cannot be so credited under Laws. Furthermore, all sums paid or agreed to be paid under the Documents for the use,
forbearance, or detention of money shall to the extent permitted by Laws be amortized, prorated, allocated, and spread throughout the full stated term of the Note until payment in full so that the rate or amount of interest on account of the
Obligations does not exceed the maximum lawful rate of 

  

 27 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
interest from time to time in effect and applicable to the Obligations for so long as the Obligations are outstanding. 
  
 Section 9.02 Notices Any notice, request, demand, consent, approval, direction,
agreement, or other communication (any “notice”) required or permitted under the Documents shall be in writing and shall be validly given if sent by a nationally-recognized courier that obtains receipts, delivered personally by a courier
that obtains receipts, or mailed by United States certified mail (with return receipt requested and postage prepaid) addressed to the applicable person as follows, or by facsimile followed by a confirmation delivered in the manner provided above:

  
 If to Borrower: 
  
 RiverCenter Landmark TRS, Inc. 
 c/o Eagle Hospitality Properties Trust, Inc. 
 100 E. RiverCenter Boulevard, Suite 480 
 Covington, Kentucky 41011 
 Attention: President and CEO 
  
 If to Lender: 
  
 THE PRUDENTIAL INSURANCE COMPANY OF AMERICA 
 Prudential Asset Resources 
 2200 Ross Avenue 
 Suite
4900-E 
 Dallas, Texas 75201 
 Attention: Asset Management
Department 
 Reference Loan No. 6-105-784 
  
 With a copy of notices sent to Lender to: 
  
 THE PRUDENTIAL INSURANCE COMPANY OF AMERICA 
 Prudential Asset Resources

 2200 Ross Avenue 
 Suite 4900-E 
 Dallas, Texas 75201 
 Attention: Legal Department 
 Reference Loan No. 6-105-784 
  
 Each notice shall be effective upon being so sent, delivered, or mailed, but the time period for response or action shall run from the date of receipt as shown on the delivery receipt. Refusal to accept delivery or
the inability to deliver because of a changed address for which no notice was given shall be deemed receipt. Any party may periodically change its address for notice and specify up to two (2) additional addresses for copies by giving the other party
at least ten (10) days’ prior notice. 
  
 Section 9.03 Sole Discretion
of Lender. Except as otherwise expressly stated, whenever Lender’s judgment, consent, or approval is required or Lender shall have an option or election under the Documents, 

  

 28 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
such judgment, the decision as to whether or not to consent to or approve the same, or the exercise of such option or election shall be in the sole and
absolute discretion of Lender. 
  
 Section 9.04 Applicable Law and
Submission to Jurisdiction. This Instrument shall be governed by and construed in accordance with the laws of the Property State and the applicable laws of the United States of America. Without limiting Lender’s right to bring any
action or proceeding against Borrower or the Property relating to the Obligations (an “Action”) in the courts of other jurisdictions, Borrower irrevocably (a) submits to the jurisdiction of any state or federal court in the Property
State, (b) agrees that any Action may be heard and determined in such court, and (c) waives, to the fullest extent permitted by Laws, the defense of an inconvenient forum to the maintenance of any Action in such jurisdiction. 
  
 Section 9.05 Construction of Provisions. The following rules of construction
shall apply for all purposes of this Instrument unless the context otherwise requires: (a) all references to numbered Articles or Sections or to lettered Exhibits are references to the Articles and Sections hereof and the Exhibits annexed to this
Instrument and such Exhibits are incorporated into this Instrument as if fully set forth in the body of the Instrument; (b) all Article, Section, and Exhibit captions are used for convenience and reference only and in no way define, limit, or in any
way affect this Instrument; (c) words of masculine, feminine, or neuter gender shall mean and include the correlative words of the other genders, and words importing the singular number shall mean and include the plural number, and vice versa; (d)
no inference in favor of or against any party shall be drawn from the fact that such party has drafted any portion of this Instrument; (e) all obligations of Borrower hereunder shall be performed and satisfied by or on behalf of Borrower at
Borrower’s sole expense; (f) the terms “include,” “including,” and similar terms shall be construed as if followed by the phrase “without being limited to”; (g) the terms
“Property”, “Land”, “Improvements”, and “Personal Property” shall be construed as if followed by the phrase “or any part thereof”; (h) the term “Obligations”
shall be construed as if followed by the phrase “or any other sums secured hereby, or any part thereof”; (i) the term “person” shall include natural persons, firms, partnerships, corporations, governmental
authorities or agencies, and any other public or private legal entities; (j) the term “provisions,” when used with respect hereto or to any other document or instrument, shall be construed as if preceded by the phrase
“terms, covenants, agreements, requirements, and/or conditions”; (k) the term “lease” shall mean “tenancy, subtenancy, lease, sublease, or rental agreement,” the term “lessor” shall
mean “landlord, sublandlord, lessor, and sublessor,” and the term “Tenants” or “lessee” shall mean “tenant, subtenant, lessee, and sublessee”; (l) the term “owned”
shall mean “now owned or later acquired”; (m) the terms “any” and “all” shall mean “any or all”; and (n) the term “on demand” or “upon demand”
shall mean “within five (5) business days after written notice”. 
  
 Section 9.06 Transfer of Loan. Lender may, at any time, (i) sell, transfer or assign the Documents and any servicing rights with respect thereto or (ii) grant participations therein or issue mortgage pass-through certificates
or other securities evidencing a beneficial interest in a rated or unrated public offering or private placement (collectively, the “Securities”). Lender may forward to any purchaser, transferee, assignee, servicer, participant, or
investor in such Securities (collectively, “Investors”), to any Rating Agency (defined below) rating such Securities and to any prospective Investor, all documents and information which Lender now has or may later acquire relating
to the Obligations, Borrower, any guarantor, any indemnitor(s), the Leases, and the Property, whether furnished by Borrower, any guarantor, any indemnitor(s) or otherwise, as Lender determines advisable. Borrower, any guarantor and any indemnitor
agree to cooperate with Lender in connection with any transfer made or any Securities created pursuant to this Section including the delivery of an estoppel certificate in accordance with Section 3.16 and such other documents as may be reasonably
requested by Lender. Borrower shall also furnish any 

  

 29 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
consent of Borrower, any guarantor and any indemnitor in order to permit Lender to furnish such Investors or such prospective Investors or such Rating Agency
with any and all information concerning the Property, the Leases, the financial condition of Borrower, any Guarantor and any indemnitor, as may be reasonably requested by Lender, any Investor, any prospective Investor or any Rating Agency and which
may be complied with without undue expense. “Rating Agency” shall mean any one ore more credit rating agencies approved by Lender. 
  
 Section 9.07 Miscellaneous. If any provision of the Documents shall be held to be invalid, illegal, or unenforceable in any respect, this shall not affect
any other provisions of the Documents and such provision shall be limited and construed as if it were not in the Documents. If title to the Property becomes vested in any person other than Borrower, Lender may, without notice to Borrower, deal with
such person regarding the Documents or the Obligations in the same manner as with Borrower without in any way vitiating or discharging Borrower’s liability under the Documents or being deemed to have consented to the vesting. If both the
lessor’s and lessee’s interest under any Lease ever becomes vested in any one person, this Instrument and the lien and security interest created hereby shall not be destroyed or terminated by the application of the doctrine of merger and
Lender shall continue to have and enjoy all its rights and privileges as to each separate estate. Upon foreclosure of this Instrument, none of the Leases shall be destroyed or terminated as a result of such foreclosure, by application of the
doctrine of merger or as a matter of law, unless Lender takes all actions required by law to terminate the Leases as a result of foreclosure. All of Borrower’s covenants and agreements under the Documents shall run with the land and time is of
the essence. Borrower hereby appoints Lender, upon the occurrence of any Event of Default, or any event or failure that with notice, or the passage of time, or both, could constitute an Event of Default under any Document, as its attorney-in-fact,
which appointment is irrevocable and shall be deemed to be coupled with an interest, with respect to the execution, acknowledgment, delivery, filing or recording for and in the name of Borrower of any of the documents listed in Sections 3.04, 3.19,
4.01 and 6.02. The Documents cannot be amended, terminated, or discharged except in a writing signed by the party against whom enforcement is sought. No waiver, release, or other forbearance by Lender will be effective unless it is in a writing
signed by Lender and then only to the extent expressly stated. The provisions of the Documents shall be binding upon Borrower and its heirs, devisees, representatives, successors, and assigns including successors in interest to the Property and
inure to the benefit of Lender and its heirs, successors, substitutes, and assigns. Where two or more persons have executed the Documents, the obligations of such persons shall be joint and several, except to the extent the context clearly indicates
otherwise. The Documents may be executed in any number of counterparts with the same effect as if all parties had executed the same document. All such counterparts shall be construed together and shall constitute one instrument, but in making proof
hereof it shall only be necessary to produce one such counterpart. Upon receipt of an affidavit of an officer of Lender as to the loss, theft, destruction or mutilation of any Document which is not of public record, and, in the case of any
mutilation, upon surrender and cancellation of the Document, Borrower will issue, in lieu thereof, a replacement Document, dated the date of the lost, stolen, destroyed or mutilated Document containing the same provisions. Any reviews, inspections,
reports, approvals or similar items conducted, made or produced by or on behalf of Lender with respect to Borrower, the Property or the Loan are for loan underwriting and servicing purposes only, and shall not constitute an acknowledgment,
representation or warranty of the accuracy thereof, or an assumption of liability with respect to Borrower, Borrower’s contractors, architects, engineers, employees, agents or invitees, present or future tenants, occupants or owners of the
Property, or any other party. 
  
 Section 9.08 Entire Agreement.
Except as provided in Section 3.17, (a) the Documents constitute the entire understanding and agreement between Borrower and Lender with respect to the Loan and supersede 

  

 30 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
all prior written or oral understandings and agreements with respect to the Loan including the Loan application and Loan commitment and (b) Borrower is not
relying on any representations or warranties of Lender except as expressly set forth in the Documents. 
  
 Section 9.09 WAIVER OF TRIAL BY JURY. BORROWER WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM FILED BY EITHER PARTY,
WHETHER IN CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THE LOAN, THE DOCUMENTS, OR ANY ALLEGED ACTS OR OMISSIONS OF LENDER IN CONNECTION THEREWITH. 
  
 ARTICLE X – OPERATIONS LEASE PROVISIONS 
  
 Borrower hereby covenants, represents and warrants to Lender with respect to the Operations Lease as follows: 
  
 (a) There is and has been no default in the performance of the Operations
Lease by Borrower, nor has any event occurred or condition arisen to the best knowledge of Borrower which, with the passage of time, or the giving of notice, or both, would constitute a default under or a breach of the Operations Lease by the
Borrower. 
  
 (b) All rents, additional rents, percentage rents
and all other charges due and payable under the Operations Lease have been fully paid to the extent same were payable prior to the date hereof. 
  
 (c) Except as otherwise previously disclosed in writing by Borrower to Lender, the Operations Lease covers one hundred percent (100%) of the leasehold
interest in and to the Property demised thereby, and Borrower is the owner of the entire tenant’s interest in, to and under the Operations Lease and has the right and authority under such Operations Lease to execute this Instrument and to
encumber Borrower’s interest therein. 
  
 (d) Borrower shall,
at its sole cost and expense, promptly and timely perform and observe all the terms, covenants and conditions required to be performed and observed by Borrower as tenant under the Operations Lease (including, but not limited to, the payment of all
rent, additional rent, percentage rent and other charges required to be paid under the Operations Lease). Any default by Borrower under the Operations Lease shall constitute a default by Borrower under this Investment. 
  
 (e) If Borrower shall violate any of the covenants specified in (d) above,
Borrower grants to Lender the right (but not the obligation), without notice to Borrower, to take any action as may be necessary to prevent or cure any default of Borrower under the Operations Lease, if necessary to protect Lender’s interest
hereunder, and Lender shall have the right to enter all or any portion of the Property at such times and in such manner as Lender deems necessary, in order to prevent or to cure any such default. 
  
 (f) The curing by Lender of any default by Borrower under the Operations
Lease shall not remove or waive, as between Borrower and Lender, the default which occurred hereunder by virtue of the default by Borrower under such Operations Lease. All sums expended by Lender in order to cure any such default shall be paid by
Borrower to Lender, upon demand, with interest thereon at the Default Rate unless prohibited by Laws. All such indebtedness shall be deemed to be secured by this Instrument. No action or 

  

 31 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
payment taken or made by Lender to prevent or cure a default by Borrower under the Operations Lease shall waive or cure the corresponding default by Borrower
under this Instrument. 
  
 (g) Borrower shall notify Lender
promptly in writing of (i) the occurrence of any material default by the landlord under the Operations Lease or the occurrence of any event which, with the passage of time or service of notice, or both, would constitute a material default by the
landlord under the Operations Lease, and (ii) the receipt by Borrower of any notice (written or otherwise) from the landlord under the Operations Lease noting or claiming the occurrence of any default by Borrower under the Operations Lease or the
occurrence of any event which, with the passage of time or service of notice, or both, would constitute a default by Borrower under the Operations Lease. Borrower shall deliver to Lender a copy of any such written notice of default. 
  
 (h) Promptly upon demand by Lender from time to time, Borrower shall use
reasonable efforts (other than payment to the landlord) to obtain from the landlord under the Operations Lease and furnish to Lender the estoppel certificate of such landlord stating the date through which rent has been paid and whether or not there
are any defaults under the Operations Lease and specifying the nature of such claimed defaults, if any. 
  
 (i) Borrower shall promptly notify Lender, in writing, of any request made by either party to the Operations Lease for arbitration or appraisal
proceedings pursuant to the Operations Lease, and of the institution of any arbitration or appraisal proceedings, as well as of all proceedings thereunder, and shall promptly deliver to Lender a copy of the determination of the arbitrators or
appraisers in each such arbitration or appraisal proceeding. Lender shall have the right (but not the obligation), following the delivery of written notice of Borrower, to participate in the appointment of any arbitrator or appraiser to be appointed
by Borrower and to participate in such arbitration or appraisal proceedings in association with Borrower or on its own behalf as an interested party. Borrower shall promptly notify Lender, in writing, of the institution of any legal proceedings
involving obligations under the Operations Lease. Lender may intervene in any such legal proceedings and be made a party to them. Borrower shall promptly provide Lender with a copy of any decisions rendered in connection with such proceedings.

  
 (j) Borrower shall promptly execute, acknowledge and deliver
to Lender such instruments as may reasonably be required to permit Lender to cure any default under the Operations Lease or permit Lender to take such other action required to enable Lender to cure or remedy the matter in default and preserve the
security interest of Lender under this Instrument with respect to the Operations Lease. Borrower hereby irrevocably appoints Lender as its true and lawful attorney-in-fact to do, in its name or otherwise, any and all acts and to execute any and all
documents which are necessary to preserve any rights of Borrower under or with respect to the Operations Lease, including, without limitation, the right to effectuate any extension or renewal of the Operations Lease, or to preserve any rights of
Borrower whatsoever in respect of any part of the Operations Lease (and the above powers granted to Lender are coupled with an interest and shall be irrevocable). 
  
 (k) Borrower shall not, without Lender’s prior written consent, surrender, terminate, forfeit, or suffer or permit the
surrender, termination or forfeiture of, or change, modify or amend, the Operations Lease. Consent to one amendment, change, agreement or modification shall not be deemed to be a waiver of the right to require consent to other, future or successive
amendments, changes, agreements or modifications. 
  
 (l) Any
acquisition of the landlord’s interest in the Operations Lease by Borrower or any affiliate of Borrower shall be accomplished by Borrower in such a manner so as to avoid a merger of the interests of 

  

 32 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 
the landlord and tenant in the Operations Lease. In the event both the landlord’s and tenant’s estate under the Operations Lease or any portion
thereof which constitutes a part of the Property, shall at any time become vested in one owner, this Instrument and the lien created hereby shall not be destroyed or terminated by application of the doctrine of merger unless Lender so elects as
evidenced by recording a written declaration so stating and, unless and until Lender so elects, Lender shall continue to have and enjoy all of the rights and privileges of Lender and mortgagee as to the separate estates. In addition, upon the
foreclosure of the lien created by this Instrument on the Property pursuant to the provisions hereof, any leases or subleases then existing and affecting all or any portion of the Property shall not be destroyed or terminated by application of the
law of merger or as a matter of law or as a result of such foreclosure unless Lender or any purchaser at such foreclosure shall so elect. No act by or on behalf of Lender or any such purchaser shall constitute a termination of any lease or sublease
unless Lender or such purchaser shall give written notice thereof to such tenant or subtenant. If Borrower shall acquire fee title to the Land subject to the Operations Lease, this Instrument shall automatically be a lien on the fee title.

  
 (m) Notwithstanding anything to the contrary herein contained
with respect to the Operations Lease: 
  
 (i) The
lien of this Instrument attaches to all of Borrower’s rights and remedies at any time arising under or pursuant to subsection 365(h) of the Bankruptcy Code, including, without limitation, all of Borrower’s rights to remain in possession of
the Property. 
  
 (ii) Borrower shall not,
without Lender’s written consent, elect to treat the Operations Lease as terminated under subsection 365(h)(1) of the Bankruptcy Code. Any such election made without Lender’s prior written consent shall be void. 
  
 (iii) As security for the Obligations, Borrower hereby
unconditionally assigns, transfers and sets over to Lender all of Borrower’s claims and rights to the payment of damages arising from any rejection by any landlord of the Operations Lease under the Bankruptcy Code. Lender and Borrower shall
proceed jointly or in the name of Borrower in respect of any claim, suit, action or proceeding relating to the rejection of the Operations Lease, including, without limitation, the right to file and prosecute any proofs of claim, complaints,
motions, applications, notices and other documents in any case in respect of such landlord under the Bankruptcy Code. This assignment constitutes a present, irrevocable and unconditional assignment of the foregoing claims, rights and remedies, and
shall continue in effect until all of the Obligations secured by this Instrument shall have been satisfied and discharged in full. Any amounts received by Lender or Borrower as damages arising out of the rejection of the Operations Lease as
aforesaid shall be applied first to all costs and expenses of Lender (including, without limitation, attorneys’ fees and costs) incurred in connection with the exercise of any of its rights or remedies under this Article XI and then in
accordance with the other applicable provisions of this Instrument. 
  
 (iv) If, pursuant to subsection 365(h)(2) of the Bankruptcy Code, Borrower seeks to offset, against the rent reserved in the Operations Lease, the amount of any damages caused by the nonperformance by the landlord
thereunder of any of such landlord’s obligations under the Operations Lease after the rejection by the landlord under the Operations Lease under the Bankruptcy Code, Borrower shall, prior to effecting such offset, notify Lender in writing of
its intent so to do, setting forth the amounts proposed to be so offset, and, in the event Lender objects, Borrower shall not effect any offset of the amounts so objected to by Lender. 
  

 33 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 (v) If any action, proceeding, motion or notice shall be commenced or filed in respect of
any landlord or the Land demised by the Operations Lease or any portion thereof in connection with any case under the Bankruptcy Code, Lender and Borrower shall cooperatively conduct and control any such litigation with counsel agreed upon between
Borrower and Lender in connection therewith. Borrower shall, upon demand, pay to Lender all costs and expenses (including reasonable attorneys’ fees and costs) paid or incurred by Lender in connection with the cooperative prosecution or conduct
of any such proceedings. All such costs and expenses shall be secured by the lien of this Instrument. Lender shall be deemed a party to the Operations Lease (but shall not have any obligations thereunder) for purposes of Section 363 and 365 of the
Bankruptcy Code, and shall have standing to appear and act as a party in interest in relation to any matter arising out of or related to the Operations Lease or the Property. 
  
 (vi) Borrower shall promptly, after obtaining knowledge thereof, notify Lender orally of any filing by or
against landlord of a petition under the Bankruptcy Code. Borrower shall thereafter promptly give written notice of such filing to Lender, setting forth any information available to Borrower as to the date of such filing, the court in which such
petition was filed, and the relief sought therein. Borrower shall promptly deliver to Lender, following its receipt thereof, any and all notices, summonses, pleadings, applications and other documents received by Borrower in connection with any such
petition and any proceedings relating thereto. 
  
 (n) To the
extent permitted by law, the price payable by Borrower or any other party in the exercise of the right of redemption, if any, from any sale under or decree of foreclosure of this Instrument shall include all rents and other amounts paid and other
sums advanced by Lender on behalf of Borrower as the tenant under the Operations Lease. 
  
 (o) Borrower hereby grants and assigns to Lender a security interest in all prepaid rent and security deposits and all other security which the landlord under the Operations Lease may hold now or later for the
performance of Borrower’s obligations as the tenant under the Operations Lease. 
  
 (p) Borrower shall not, without Lender’s written consent, fail to exercise any option or right to renew or extend the term of the Operations Lease at least six (6) months prior to the date of termination of any
such option or right, shall give immediate written notice thereof to Lender, and shall execute, acknowledge, deliver and record any document requested by Lender to evidence the lien of this Instrument on such extended or renewed lease term;
provided, however, that Borrower shall not be required to exercise any particular such option or right to renew or extend to the extent Borrower shall have received the prior written consent of Lender (which consent may be withheld by Lender in its
sole and absolute discretion) allowing Borrower to forego exercising such option or right to renew or extend. If Borrower shall fail to exercise any such option or right as aforesaid, Lender may exercise the option or right as Borrower’s agent
and attorney-in-fact pursuant to (j), or in Lender’s own name or in the name of and on behalf of a nominee of Lender, as Lender may determine in the exercise of its sole and absolute discretion. 
  
 (q) All subleases entered into by Borrower (and all existing subleases
modified or amended by Borrower) shall provide that such subleases are subordinate to the lien of this Instrument and any extensions, replacements and modifications of this Instrument and the Obligations and that if Lender forecloses under this
Instrument or enters into a new lease with any landlord under the Operations Lease pursuant to the provisions for a new lease, if any, contained in the Operations Lease, then the sublessee shall attorn to Lender or its assignee and the sublease will
remain in full force and effect in accordance with its terms notwithstanding the termination of the Operations Lease. 
  

 34 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

 (r) The Operations Lease has not been amended, modified, extended, renewed, substituted or assigned, and
Borrower has delivered to Lender true, accurate and complete copy of the Operations Lease. Upon the request of Lender, Borrower shall deposit with Lender the tenant’s original fully executed copy of the Operations Lease, as further security to
the Lender, until all of the Obligations are fully paid and performed. Borrower hereby represents that the Operations Lease or a legally valid memorandum thereof has been properly filed or recorded in the city, town, county or parish records (as
appropriate) in which the Land covered thereby is located and that the filing and recording data for the same is accurately set forth in Exhibit A attached hereto. 
  
 (s) Borrower shall not waive, excuse, condone or in any way release or discharge the landlord under the Operations Lease or
such landlord’s obligations, covenants and/or conditions under the Operations Lease without the prior written consent of Lender. 
  
 The generality of the provisions of this Article X relating to the Operations Lease shall not be limited by other provisions of this Instrument setting
forth particular obligations of Borrower which are also required of Borrower with respect to the Operations Lease or the Land. 
  
 IN WITNESS WHEREOF, the undersigned have executed this Instrument as of the day first set forth above. 
  

			
	 BORROWER:

	
	 RIVERCENTER LANDMARK TRS, INC., a
 Maryland corporation

		
	 By:
	 	 
	 Name:
	 	 J. William Blackham, III

	 Title:
	 	 President and CEO

  

 35 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 ACKNOWLEDGEMENTS

  

					
	 STATE OF KENTUCKY
	 	)	  	 
	 	 	)	  	 SS:

	 COUNTY OF KENTON
	 	)	  	 

  
 On this
         day of February, 2005 before me,
                                     a Notary Public in and
for said State, personally appeared J. William Blackham, III, personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me
that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
  
 WITNESS my hand and official seal. 
  

	
	
	 
	 Notary Public

	 My Commission expires:

  

 36 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 Exhibit A

  
 LEGAL DESCRIPTION OF THE PROPERTY

  

 37 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 Exhibit B

  
 DESCRIPTION OF PERSONAL PROPERTY SECURITY

  
 Exhibit C 
  
 PERMITTED ENCUMBRANCES 
  

 38 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 Exhibit D

  
 LIST OF MAJOR TENANTS 
  

 39 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

  
 Exhibit E

  
 DOCUMENTS 
  

	1.	Note 

  

	2.	Mortgage and Security Agreement: EHP RiverCenter Landmark, LLC 

  

	3.	Mortgage and Security Agreement: RiverCenter Landmark TRS, Inc. 

  

	4.	Mortgage and Security Agreement: EHP Independence Suites, LLC 

  

	5.	Mortgage and Security Agreement: Independence Suites TRS, Inc. 

  

	6.	Mortgage and Security Agreement: EHP Westshore Suites, LLC, and Westshore Suites TRS, Inc. 

  

	7.	Assignment of Leases and Rents: EHP RiverCenter Landmark, LLC 

  

	8.	Assignment of Leases and Rents: RiverCenter Landmark TRS, Inc. 

  

	9.	Assignment of Leases and Rents: EHP Independence Suites, LLC 

  

	10.	Assignment of Leases and Rents: Independence Suites TRS, Inc. 

  

	11.	Assignment of Leases and Rents: EHP Westshore Suites, LLC, and Westshore Suites TRS, Inc. 

  

	12.	Assignment of Agreements: EHP RiverCenter Landmark, LLC 

  

	13.	Assignment of Agreements: RiverCenter Landmark TRS, Inc. 

  

	14.	Assignment of Agreements: EHP Independence Suites, LLC 

  

	15.	Assignment of Agreements: Independence Suites TRS, Inc. 

  

	16.	Assignment of Agreements: EHP Westshore Suites, LLC 

  

	17.	Assignment of Agreements: Westshore Suites TRS, Inc. 

  

	18.	Pledge Agreement: EHP RiverCenter Landmark, LLC, and RiverCenter Landmark TRS, Inc. 

  

	19.	Pledge Agreement: EHP Independence Suites, LLC, and Independence Suites TRS, Inc. 

  

	20.	Pledge Agreement: EHP Westshore Suites, LLC, and Westshore Suites TRS, Inc. 

  

	21.	Environmental and ERISA Indemnity: EHP RiverCenter Landmark, LLC, RiverCenter Landmark TRS, Inc., and Eagle Hospitality Properties Trust, Inc. 

  

	22.	Environmental and ERISA Indemnity: EHP Independence Suites, LLC, Independence Suites TRS, Inc., and Eagle Hospitality Properties Trust, Inc. 

  

	23.	Environmental and ERISA Indemnity: EHP Westshore Suites, LLC, Westshore Suites TRS, Inc., and Eagle Hospitality Properties Trust, Inc. 

  

	24.	Land Use Certification: EHP RiverCenter Landmark, LLC, and RiverCenter Landmark TRS, Inc. 

  

	25.	Land Use Certification: EHP Independence Suites, LLC, and Independence Suites TRS, Inc. 

  

	26.	Land Use Certification: EHP Westshore Suites, LLC, and Westshore Suites TRS, Inc. 

  

	27.	ERISA Certification: EHP RiverCenter Landmark, LLC 

  

 40 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

	28.	ERISA Certification: RiverCenter Landmark TRS, Inc. 

  

	29.	ERISA Certification: EHP Independence Suites, LLC 

  

	30.	ERISA Certification: Independence Suites TRS, Inc. 

  

	31.	ERISA Certification: EHP Westshore Suites, LLC 

  

	32.	ERISA Certification: Westshore Suites TRS, Inc. 

  

	33.	ERISA Certification: Eagle Hospitality Properties Trust, Inc. 

  

	34.	UCC-1 Financing Statement: EHP RiverCenter Landmark, LLC (filed in Kentucky) 

  

	35.	UCC-1 Financing Statement: RiverCenter Landmark TRS, Inc. (filed in Maryland) 

  

	36.	UCC-1 Financing Statement: EHP RiverCenter Landmark, LLC, and RiverCenter Landmark TRS, Inc. (recorded in Kentucky) 

  

	37.	UCC-1 Financing Statement: EHP Independence Suites, LLC (filed in Ohio) 

  

	38.	UCC-1 Financing Statement: Independence Suites TRS, Inc. (filed in Maryland) 

  

	39.	UCC-1 Financing Statement: EHP Independence Suites, LLC, and Independence Suites TRS, Inc. (recorded in Ohio) 

  

	40.	UCC-1 Financing Statement: EHP Westshore Suites, LLC (filed in Florida) 

  

	41.	UCC-1 Financing Statement: Westshore Suites TRS, Inc. (filed in Maryland) 

  

	42.	UCC-1 Financing Statement: EHP Westshore Suites, LLC, and Westshore Suites TRS, Inc. (recorded in Florida) 

  

	43.	Recourse Liabilities Guaranty: Eagle Hospitality Properties Trust, Inc. 

  

	44.	SNDA Operations Lease: RiverCenter Landmark TRS, Inc. 

  

	45.	SNDA Operations Lease: Independence Suites TRS, Inc. 

  

	46.	SNDA Operations Lease: Westshore Suites, Inc. 

  

	47.	SNDA STK: Marriott at RiverCenter 

  

	48.	Member Certificate: EHP RiverCenter Landmark, LLC 

  

	49.	Member Certificate: EHP Independence Suites, LLC 

  

	50.	Member Certificate: EHP Westshore Suites, LLC 

  

	51.	Corporate Certificate: RiverCenter Landmark TRS, Inc. 

  

	52.	Corporate Certificate: Independence Suites TRS, Inc. 

  

	53.	Corporate Certificate: Westshore Suites TRS, Inc. 

  

	54.	Corporate Certificate: Eagle Hospitality Properties Trust, Inc. 

  

	55.	Ground Lessor Non-Disturbance and Attornment Agreement (City): EHP RiverCenter Landmark, LLC 

  

	56.	Estoppel Certificate and Agreement (Commonwealth): EHP RiverCenter Landmark, LLC 

  

	57.	Fee Mortgage Non-Disturbance and Attornment Agreement: EHP RiverCenter Landmark, LLC 

  

 41 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784 

	58.	Estoppel Certificate Operations Lease: EHP RiverCenter Landmark, LLC and RiverCenter Landmark TRS, Inc. 

  

	59.	Estoppel Certificate Operations Lease: EHP Independence Suites, LLC and Independence Suites TRS, Inc. 

  

	60.	Estoppel Certificate Operations Lease: EHP Westshore Suites, LLC and Westshore Suites, TRS, Inc. 

  

	61.	Marriott Comfort Letter (KY) 

  

	62.	Embassy Suites Comfort Letter (OH) 

  

	63.	Embassy Suites Comfort Letter (FL) 

  

 42 
 PRUDENTIAL : MORTGAGE AND SECURITY AGREEMENT (LEASEHOLD) 
 Eagle Hospitality Properties 
 RiverCenter Landmark TRS, Inc. 
 Loan No. 6-105-784Deed of Trust, Assignment and Security Agreement

 Exhibit 10.23 
  
 Deed of Trust, Assignment and 
  
 Security Agreement 
  
 THIS DEED OF TRUST, ASSIGNMENT AND SECURITY AGREEMENT (this “Deed of Trust”) is made as of the 22nd day of February, 2005, by and
between EHP PHOENIX SUITES, LLC (“EHP”), Delaware limited liability company, and PHOENIX SUITES TRS, INC. (“TRS”), a Maryland corporation (EHP and TRS are sometimes hereinafter individually and collectively referred
to as the “Grantor”), each of whose address is 100 East RiverCenter Blvd. Suite 480, Covington, Kentucky 41001, and Stewart Title & Trust of Phoenix, Inc (the “Trustee”) with an address at 244 West Osborn
Road, Phoenix Arizona 85013, for the benefit of U.S. BANK NATIONAL ASSOCIATION (the “Lender”), with an address at c/o Commercial Real Estate Department, 425 Walnut Street, 10th Floor, CN-OH-W10C, Cincinnati, Ohio 45202.

  
 WHEREAS, the EHP is the owner of a certain tract or
parcel of land described in Exhibit A attached hereto and made a part hereof, together with the improvements now or hereafter erected thereon; and TRS is the tenant on such land and improvements pursuant to a Lease Agreement dated as of
February 24, 2005 between EHP and TRS; and 
  
 WHEREAS, the
Grantor has borrowed from the Lender in an amount not to exceed TWENTY-TWO MILLION ONE HUNDRED THOUSAND AND 00/100 DOLLARS ($22,100,000) (the “Loan”), which Loan is evidenced by one or more promissory notes in favor of the Lender
(the “Note”); 
  
 NOW, THEREFORE, for the
purpose of securing the payment and performance of the following obligations (collectively called the “Obligations”): 
  

	 	A.	 the Loan, the Note and all other loans, advances, debts, liabilities, obligations, covenants and duties owing by the Grantor to the Lender or to any other direct or
indirect subsidiary of Lender or any direct or indirect parent of Lender or any direct of indirect subsidiary of any direct or indirect parent of Lender, of any kind or nature, present or future (including any interest accruing thereon after
maturity, or after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding relating to the Grantor, whether or not a claim for post-filing or post-petition interest is allowed in such
proceeding), whether or not evidenced by any note, guaranty or other instrument, whether arising under any agreement, instrument or document, whether or not for the 

  

	 	 
payment of money, whether arising by reason of an extension of credit, opening of a letter of credit, loan, equipment lease or guarantee, under any interest
or currency swap, future, option or other interest rate protection or similar agreement, or in any other manner, whether arising out of overdrafts on deposit or other accounts or electronic funds transfers (whether through automated clearing houses
or otherwise) or out of the Lender’s non-receipt of or inability to collect funds or otherwise not being made whole in connection with depository transfer check or other similar arrangements, whether direct or indirect (including those acquired
by assignment or participation), absolute or contingent, joint or several, due or to become due, now existing or hereafter arising, and any amendments, extensions, renewals or increases and all costs and expenses of the Lender and/or the Trustees
incurred in the documentation, negotiation, modification, enforcement, collection or otherwise in connection with any of the foregoing, including reasonable attorneys’ fees and expenses. 

  

	 	B.	Any sums advanced by the Lender or which may otherwise become due pursuant to the provisions of the Note or this Deed of Trust or pursuant to any other document or instrument at any
time delivered to the Lender to evidence or secure any of the Obligations or which otherwise relate to any of the Obligations (as the same may be amended, supplemented or replaced from time to time, the “Loan Documents”).

  
 The Grantor, for good and valuable consideration, receipt of
which is hereby acknowledged, and intending to be legally bound hereby irrevocably bargains, sells, grants, conveys, assigns, transfers and sets over unto the Trustees, in trust with power of sale and the right of entry and possession, forever, all
of the Grantor’s right, title, estate, claim and interest in the following described property, all accessions and additions thereto, all substitutions therefor and replacements and proceeds thereof, and all reversions and remainders of such
property now owned or held or hereafter acquired (the “Property”), to wit: 
  

	 	A.	All of the Grantor’s estate in the following: 

  
 All of that certain tract or parcel of land located 4415 East Paradise Village Parkway South, in Phoenix, Arizona, as described in
Exhibit A which is attached hereto and incorporated herein by reference for more particular description of said land, together with and including any other of Grantor’s land being adjacent to or a part
of the land described in Exhibit A which may not be particularly described herein; 
  
 Together with all of the easements, rights of way, privileges, liberties, hereditaments, gores, streets, alleys, passages, ways, all water
and water rights flowing through, belonging or in any way appertaining to the Property, and all of Grantor’s water rights that are personal property under Arizona law including without limitation all type 1 and type 2 non-irrigation
grandfathered rights (if applicable), all irrigation rights, all ditch rights, rights to irrigation district stock, all contracts for effluent, all contracts for Central Arizona Project water, and all contractual rights to water, and together with
all rights (but none of the duties) of Grantor as declarant under any presently recorded declaration of 

  

 2 

 
covenants, conditions, and restrictions affecting real property; and all other rights, royalties, and profits relating to the real property, including
without limitation all minerals, oil, gas, geothermal and similar matters; and all of the Grantor’s estate, right, title, interest, claim and demand therein and in the public streets and ways adjacent thereto, either in law or in equity (the
“Land”); 
  

	 	B.	All the buildings, structures and improvements of every kind and description now or hereafter erected or placed on the Land, and all facilities, fixtures, machinery, apparatus,
appliances, installations, machinery and equipment, including all building materials to be incorporated into such buildings, all electrical equipment necessary for the operation of such buildings and heating, air conditioning and plumbing equipment
now or hereafter attached to, located in or used in connection with those buildings, structures or other improvements (the “Improvements”); 

  

	 	C.	All rents, issues and profits arising or issuing from the Land and the Improvements (the “Rents”) including the Rents arising or issuing from all leases and
subleases now or hereafter entered into covering all or any part of the Land and Improvements (the “Leases”), all of which Leases and Rents are hereby assigned to the Lender by the Grantor. The foregoing assignment shall include all
fees, charges, accounts or other payments for the use or occupancy of rooms and other public facilities in hotels, motels, or other lodging properties, and all cash or securities deposited under Leases to secure performance of lessees of their
obligations thereunder, whether such cash or securities are to be held until the expiration of the terms of such leases or applied to one or more installments of rent coming due prior to the expiration of such terms. The foregoing assignment extends
to Rents arising both before and after the commencement by or against the Grantor of any case or proceeding under any Federal or State bankruptcy, insolvency or similar law, and is intended as an absolute assignment and not merely the granting of a
security interest. The Grantor, however, shall have a license to collect, retain and use the Rents so long as no Event of Default shall have occurred and be continuing or shall exist. The Grantor will execute and deliver to the Lender, on demand,
such additional assignments and instruments as the Lender may require to implement, confirm, maintain and continue the assignment of Rents hereunder; 

  

	 	D.	All proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims; 

  
 TO HAVE AND TO HOLD the Property and all other interests described above unto
the Trustees; BUT IN TRUST, NEVERTHELESS to secure to the Lender and Trustees for the benefit of the Lender the payment and performance by the Grantor of all of the Obligations; PROVIDED, HOWEVER, that until the occurrence of an Event of Default,
the Grantor shall have the sole right to remain in peaceful possession of the Property; PROVIDED, FURTHER HOWEVER, that if the Grantor shall pay, perform and satisfy in full all of the Obligations, then, in such case, the estate, right, title and
interest of the Trustees and Lender in the Property shall 

  

 3 

 
cease, and upon proof to the satisfaction of the Lender that the Obligations have been paid, performed and satisfied in full, Lender shall execute and
deliver to Trustee a request for full reconveyance without warranty and shall execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lenders security interest in the Rents and Improvements;
subject, however, to the survival of certain rights and benefits in accordance with the provisions of the paragraph entitled “Survival of Certain Provisions”. Grantor shall pay any reconveyance fee required by law, if permitted by
applicable law. THIS DEED OF TRUST CONSTITUTES A SECURITY AGREEMENT UNDER THE ARIZONA UNIFORM COMMERCIAL CODE. The Grantor hereby grants to the Trustees and Lender a security interest in all Property to which Article 9 of the Uniform Commercial Code
of the state of Arizona is applicable and the proceeds (cash and noncash) thereof. Lender shall have all the rights and remedies of a secured party under said Uniform Commercial Code with respect to such Property. 
  
 THIS DEED OF TRUST IS GIVEN for the purpose of creating a lien on the Property in order to
secure not only any existing indebtedness, but also future advances, whether such advances are obligatory or to be made at the option of the Lender, or otherwise, and whether made before or after default or maturity or other similar events, to the
same extent as if such future advances were made on the date of the execution of this Deed of Trust, although there may be no advance made at the time of the execution hereof and although there may be no indebtedness outstanding at the time any
advance is made. Notwithstanding the reduction of the amount(s) secured hereby at any time to zero, this Deed of Trust shall remain in full force and effect until such time as release or satisfaction thereof is filed of record by the Lender.

  

	1.	Representations and Warranties. The Grantor represents and warrants to the Trustees and Lender that the Grantor has good and marketable title to an estate in fee
simple absolute in the Land and Improvements and has all right, title and interest in all other property constituting a part of the Property, in each case free and clear of all liens and encumbrances, except as may otherwise be set forth on
Exhibit B attached hereto. This Deed of Trust is a valid and enforceable first lien on the Property (except as set forth on Exhibit B), and the Lender shall, subject to the Grantor’s right of possession prior to an Event of Default,
quietly enjoy and possess the Property. The Grantor shall preserve such title as it warrants herein and the validity and priority of the lien hereof and shall forever warrant and defend the same to the Lender against the claims of all persons.

  

	2.	Affirmative Covenants. Until all of the Obligations shall have been fully paid, satisfied and discharged the Grantor shall: 

  

	 	2.1	Payment and Performance of Obligations. Pay or cause to be paid and perform all Obligations when due as provided in the Loan Documents. 

  

	 	2.2	Legal Requirements. Promptly comply with and conform in all material respects to all present and future laws, statutes, codes, ordinances, orders and regulations and all
covenants, restrictions and conditions which may be applicable to the Grantor or to any of the Property (the “Legal Requirements”). 

  

 4 

	 	2.3	Impositions. Before interest or penalties are due thereon and otherwise when due, the Grantor shall pay all taxes of every kind and nature, all charges for any easement or
agreement maintained for the benefit of any of the Property, all general and special assessments (including, any condominium or planned unit development assessments, if any), levies, permits, inspection and license fees, all water and sewer rents
and charges, and all other charges and liens, whether of a like or different nature, imposed upon or assessed against the Grantor or any of the Property (the “Impositions”). Within thirty (30) days after the payment of any
Imposition, the Grantor shall deliver to the Lender evidence acceptable to the Lender of such payment. The Grantor’s obligations to pay the Impositions shall survive the Lender’s taking title to the Property through foreclosure,
deed-in-lieu or otherwise. 

  

	 	2.4	Maintenance of Security. Use, and permit others to use, the Property only for such uses as permitted by applicable Legal Requirements and approved in writing by the Lender.
The Grantor shall keep the Property in good condition and order and in a rentable and tenantable state of repair and will make or cause to be made, as and when necessary, all repairs, renewals, and replacements, structural and nonstructural,
exterior and interior, foreseen and unforeseen, ordinary and extraordinary. The Grantor shall not remove, demolish or alter the Property nor commit or suffer waste with respect thereto, nor permit the Property to become deserted or abandoned. The
Grantor covenants and agrees not to take or permit any action with respect to the Property that will in any manner impair the security of this Deed of Trust. 

  

	3.	Leases. The Grantor shall not (a) execute an assignment or pledge of the Rents or the Leases other than in favor of the Lender; (b) accept any prepayment of an
installment of any Rents prior to thirty days before the due date of such installment except advance deposits for banquets, conferences or similar bookings in the ordinary course of the hotel and conference business; or (c) enter into or amend any
of the terms of any of the Leases without the Lender’s prior written consent. Any or all leases or subleases of all or any part of the Property shall be subject in all respects to the Lender’s prior written consent, shall be subordinated
to this Deed of Trust and to the Lender’s rights and, together with any and all rents, issues or profits relating thereto, shall be assigned at the time of execution to the Lender as additional collateral security for the Obligations, all in
such form, substance and detail as is satisfactory to the Lender in its sole discretion. 

  

	4.	 Due on Sale Clause. The Grantor shall not sell, convey or otherwise transfer any interest in the Property (whether voluntarily or by operation of
law), or agree to do so, without the Lender’s prior written consent, including (a) any sale, conveyance, assignment, or other transfer of (including installment land sale contracts), or the grant of a security interest in, all or any part of
the legal or equitable title to the Property, except as otherwise permitted hereunder; or (b) any sale, conveyance, assignment, or other transfer of, or the grant of a security interest in, any membership interest in the Grantor, except in favor of
the Lender and except for any transfer of title to the Real Estate or any transfer of a membership interest to one or of the Guarantors (as defined in the Loan Agreement 

  

 5 

	 	 
of even date herewith between Grantor and Lender (“Loan Agreement”)) or any entity controlled 51% or more by one or more of the Guarantors,
provided, however that in connection with any such transfer, there exists no Event of Default under this Deed of Trust and provided Lender is given advanced written notice thereof by Grantor, and provided further, however, that the transfer of
ownership of the entirety of the Property shall be contingent upon the transferee assuming the Obligations pursuant to an assignment and assumption instrument reasonably satisfactory to Lender and Promus Hotels, Inc., shall confirm in writing that
the License Agreement between Promus Hotels, Inc., and TRS and all of such proposed transferees rights thereunder will remain in full force and effect, the Guarantors shall reaffirm their obligations under the Guaranty and the Hazardous Substances
Indemnity Agreement (as such documents are defined in the Loan Agreement) and Grantor shall provide an endorsement to Lender’s loan policy of title insurance confirming that such transfer did not affect Lender’s rights and benefits under
such policy. Upon any transfer prohibited hereunder, Lender may, at its option, declare immediately due and payable all Obligations upon such sale or transfer effected without Lender’s prior written consent. However, Lender shall not exercise
this option if such exercise is prohibited by federal law or by Arizona law. 

  

	5.	Insurance. The Grantor shall keep the Property continuously insured, in an amount not less than the cost to replace the Property or an amount not less than eighty
percent (80%) of the full insurable value of the Property, whichever is greater, against loss or damage by fire, with extended coverage and against other hazards as the Lender may from time to time require. With respect to any property under
construction or reconstruction, the Grantor shall maintain builder’s risk insurance. The Grantor shall also maintain comprehensive general public liability insurance, in an amount of not less than Two Million Dollars ($2,000,000) per occurrence
and Ten Million Dollars ($10,000,000) general aggregate per location, which includes contractual liability insurance for the Grantor’s obligations under the Leases, and worker’s compensation insurance. All property and builder’s risk
insurance shall include protection for continuation of income for a period of twelve (12) months, in the event of any damage caused by the perils referred to above. All policies, including policies for any amounts carried in excess of the required
minimum and policies not specifically required by the Lender, shall be with an insurance company or companies authorized to do business in the state of Arizona and satisfactory to the Lender, shall be in form satisfactory to the Lender, shall meet
all coinsurance requirements of the Lender, shall be maintained in full force and effect, shall be assigned to the Lender, with premiums prepaid, as collateral security for payment of the Obligations, shall be endorsed with a standard mortgagee
clause in favor of the Lender and shall provide for at least thirty (30) days notice of cancellation to the Lender. Such insurance shall also name the Lender as an additional insured under the comprehensive general public liability policy and the
Grantor shall also deliver to the Lender a copy of the replacement cost coverage endorsement. 

  

	6.	Rights of Lender to Insurance Proceeds. 

  

	 	6.1	 In the event of any loss under any of said policies of insurance covering the Property, Grantor shall give immediate written notice to the Lender, and the 

  

 6 

	 	 
Lender may, but is not obligated to, make proof of loss if not made promptly by Grantor. Any proceeds received from any policy of insurance shall be paid to
Lender and applied against the outstanding balance of principal, interest and other charges due under the Obligations, provided, however, if (i) Grantor desires to restore the Property to its prior good condition, (ii) no Event of
Default exists hereunder, (iii) the loan to value ratio of the Mortgaged Premises and Collateral as restored will not be more than 65% (as may be determined by independent appraisal satisfactory to Lender completed at Grantor’s expense), (iv)
any funds in excess of insurance proceeds necessary to complete the restoration work in accordance with plans and specifications and budgets as approved by the Lender shall have been deposited by Grantor with Lender, (v) all insurance proceeds and
any funds in excess thereof shall have been deposited with Lender and the subject of appropriate pledge and/or security agreement reasonably acceptable to Lender (pursuant to which Lender shall have a first lien with respect to said funds), (vi)
Promus Hotels, Inc. shall confirm in writing that the License Agreement, dated as of February         , 2005 (the “License Agreement”) and all of Borrower’s rights thereunder will remain
in full force and effect, (vii) TRS’s interest in the Property and all of Grantor’s rights thereunder will remain in full force and effect, and (viii) Grantor shall obtain confirmation from its insurance carrier that the proceeds of rental
interruption insurance sufficient to offset any abatement of rents during the period of repair, reconstruction or restoration will be paid monthly; then the insurance proceeds shall be held by Lender for restoration of the Property. Lender shall
disburse so much of the proceeds to the Grantor as restoration progresses, equal to the cost of said restoration, and subject to reasonable conditions, including the right of Lender to withhold up to ten percent (10%) of said amount until
completion, and the expiration of the period within which mechanic’s and materialmen’s liens may be filed or until the receipt of satisfactory evidence that no liens exist. Should the insurance proceeds be less than the sum required to
complete said restoration, Grantor shall deposit the difference with the Lender, and its failure to do so shall constitute default hereunder. Upon payment of such sum to the Lender, the same shall be held by Lender in a mutually acceptable
interest-bearing account until disbursement. Should said proceeds, including the interest payable thereon, exceed the cost of completing said restoration, any balance remaining shall be repaid to the Grantor. Grantor shall pay to the Lender any
reasonable expenses incurred by Lender in making such disbursements and reasonable building inspections. Grantor agrees to execute such further assignments of such proceeds and rights of action as Lender may require. 

  

	 	6.2	Applicable to Partial and Total Loss. In the event of a loss, as described above, all proceeds and rights of action are hereby assigned to Lender. At its option, in its own
name, Lender shall be entitled to commence, appear in and prosecute any action or proceedings or to make any compromise or settlement in connection with any such loss. The payment to the Lender of such insurance proceeds shall not cure or waive any
default or notice of default hereunder. Notwithstanding 

  

 7 

	 	 
such total or partial loss, all payments under the Note and Loan Agreement shall be made without reduction, modification or interruption and all applicable
terms and conditions of this Deed of Trust shall be applicable to Grantor without modification or interruption. 

  

	7.	Installments for Insurance, Taxes and Other Charges. Upon the Lender’s request after the occurrence of an Event of Default, the Grantor shall pay to the Lender
monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the “Escrow
Charges”). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Lender shall be deemed to be trust funds, nor shall any sums paid bear interest. The
Lender shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Lender for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Lender
for any insurance premium or Imposition are exhausted, or if the Lender determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Grantor shall promptly pay to the
Lender, upon demand, an amount which the Lender shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Lender shall have the right, at its election, to apply any amount so held against the Obligations
due and payable in such order as the Lender may deem fit, and the Grantor hereby grants to the Lender a lien upon and security interest in such amounts for such purpose. 

  

	8.	Condemnation. The Grantor, immediately upon obtaining knowledge of the institution of any proceedings for the condemnation or taking by eminent domain of any of the
Property, shall notify the Lender of the pendency of such proceedings. The Lender may participate in any such proceedings and the Grantor shall deliver to the Lender all instruments requested by it to permit such participation. Any award or
compensation for property taken or for damage to property not taken, whether as a result of such proceedings or in lieu thereof, is hereby assigned to and shall be received and collected directly by the Lender, and any award or compensation shall be
applied as insurance proceeds are applied. 

  

	9.	Environmental Matters. 

  

	 	9.1	For purposes of this Section 9, the term “Environmental Laws” shall mean all federal, state and local laws, regulations and orders, whether now or in the future
enacted or issued, pertaining to the protection of land, water, air, health, safety or the environment. The term “Regulated Substances” shall mean all substances regulated by Environmental Laws, or which are known or considered to
be harmful to the health or safety of persons, or the presence of which may require investigation, notification or remediation under the Environmental Laws. The term “Contamination” shall mean the discharge, release, emission,
disposal or escape of any Regulated Substances into the environment. 

  

 8 

	 	9.2	The Grantor represents and warrants (i) that to its knowledge based solely upon that certain environmental assessment delivered by Grantor to Lender in connection with the Loan
(“Assessment”), no Contamination is present at, on or under the Property and that no Contamination is being or has been emitted onto any surrounding property; (ii) that to its knowledge based solely upon the Assessment, all operations and
activities on the Property have been and are being conducted in accordance with all Environmental Laws, and the Grantor has all permits and licenses required under the Environmental Laws; (iii) that to its knowledge based solely upon the Assessment,
no underground or aboveground storage tanks are or have been located on or under the Property; and (iv) to its knowledge, no legal or administrative proceeding is pending or threatened relating to any environmental condition, operation or activity
on the Property, or any violation or alleged violation of Environmental Laws. These representations and warranties shall be true as of the date hereof, and shall be deemed to be continuing representations and warranties which must remain true,
correct and accurate during the entire duration of the term of this Deed of Trust. 

  

	 	9.3	The Grantor shall ensure, at its sole cost and expense, that the Property and the conduct of all operations and activities thereon comply and continue to comply with all
Environmental Laws. The Grantor shall notify the Lender promptly and in reasonable detail in the event that the Grantor becomes aware of any violation of any Environmental Laws, the presence or release of any Contamination with respect to the
Property, or any governmental or third party claims relating to the environmental condition of the Property or the conduct of operations or activities thereon. The Grantor also agrees not to permit or allow the presence of Regulated Substances on
any part of the Property, except for those Regulated Substances (i) which are used in the ordinary course of the Grantor’s business, but only to the extent they are in all cases used in a manner which complies with all Environmental Laws; and
(ii) those Regulated Substances which are naturally occurring on the Property. The Grantor agrees not to cause, allow or permit the presence of any Contamination on the Property. 

  

	 	9.4	 The Trustees and the Lender shall not be liable for, and the Grantor shall indemnify, defend and hold the Trustees and the Lender and all the officers, directors,
employees and agents of the Trustees and the Lender and all of their respective successors and assigns harmless from and against all losses, costs, liabilities, damages, fines, claims, penalties and expenses (including reasonable attorneys’,
consultants’ and contractors’ fees, costs incurred in the investigation, defense and settlement of claims, as well as costs incurred in connection with the investigation, remediation or monitoring of any Regulated Substances or
Contamination) that the Trustees and Lender may suffer or incur (including as holder of the Deed of Trust, as mortgagee in possession or as successor in interest to the Grantor as owner of the Property by virtue of a power of sale, foreclosure or
acceptance of a deed in lieu of foreclosure) as a result of or in connection with (i) any Environmental Laws (including the assertion that any lien existing or arising pursuant to any Environmental Laws takes priority over the lien of the 

  

 9 

	 	 
Deed of Trust); (ii) the breach of any representation, warranty, covenant or undertaking by the Grantor in this Section 9; (iii) the presence on or the
migration of any Contamination or Regulated Substances on, under or through the Property; or (iv) any litigation or claim by the government or by any third party in connection with the environmental condition of the Property or the presence or
migration of any Regulated Substances or Contamination on, under, to or from the Property. Notwithstanding the above or anything contained in this Deed of Trust or any other loan documents executed in connection with this Deed of Trust to the
contrary, the indemnities provided for herein shall not apply to any hazardous materials or contaminants that are initially placed or first arising or created on, in or under the Property after the date Lender or any of its affiliates or third
parties that take title to the Property at a foreclosure sale, a sale pursuant to a power of sale, or by deed in lieu of foreclose or otherwise. 

  

	 	9.5	Upon the Lender’s request, the Grantor shall execute and deliver an Environmental Indemnity Agreement satisfactory in form and substance to the Lender, to more fully reflect
the Grantor’s representations, warranties, covenants and indemnities with respect to the Environmental Laws. 

  

	10.	Inspection of Property. The Trustees and the Lender or their agents shall have the right to enter the Property at any reasonable hour for the purpose of inspecting the
order, condition and repair of the buildings and improvements erected thereon, as well as the conduct of operations and activities on the Property. The Trustees and the Lender or their employees, agents and consultants may for good cause enter the
Property upon prior written notice to the Grantor, to conduct any and all environmental testing deemed appropriate by the Lender in its sole but reasonable discretion. The environmental testing shall be accomplished by whatever means the Lender may
deem appropriate, including the taking of soil samples and the installation of ground water monitoring wells or other intrusive environmental tests. The Grantor shall provide the Trustees, the Lender and their employees, agents and consultants
reasonable rights of access to the Property as well as such information about the Property and the past or present conduct of operations and activities thereon as the Trustees or the Lender shall reasonably request. 

  

	11.	 Events of Default. The occurrence of any one or more of the following events shall constitute an “Event of Default” hereunder: (a)
any Event of Default (as defined in any of the Obligations); (b) any default under any of the Obligations that does not have a defined set of “Events of Default” and the lapse of any notice or cure period provided in such Obligations with
respect to such default; (c) demand by the Lender under any of the Obligations that have a demand feature; (d) the failure by the Grantor to perform any of its obligations under this Deed of Trust or under any Environmental Indemnity Agreement
executed and delivered pursuant to Section 9(e) hereof; (e) falsity, inaccuracy or material breach by the Grantor of any written warranty, representation or statement made or furnished to the Lender by or on behalf of the Grantor; (f) an uninsured
material loss, theft, damage, or destruction to any of the Property, or the entry of any judgment against the Grantor or any lien against or the making of any levy, seizure or attachment of or on the Property; (g) the failure of the Lender to have a
lien on the 

  

 10 

	 	 
Property with the priority required under Section 1; (h) any indication or evidence received by the Lender that the Grantor may have directly or indirectly
been engaged in any type of activity which, in the Lender’s discretion, might result in the forfeiture of any property of the Grantor to any governmental entity, federal, state or local; (i) foreclosure proceedings are instituted against the
Property upon any other lien or claim, whether alleged to be superior or junior to the lien of this Deed of Trust; or (j) the failure by the Grantor to pay any Impositions as required under Section 2(c), or to maintain in full force and effect any
insurance required under Section 5. 

  

	12.	Remedies. If an Event of Default occurs and continues beyond any applicable notice and cure period, the Lender may, acting alone or together with or through the
Trustees or any agents or attorneys at the Lender’s option and without demand, notice or delay, do one or more of the following: 

  

	 	12.1	Acceleration. The Lender may declare that all sums payable under the Loan Documents are immediately due and payable in full, whereupon all such sums shall be immediately due
and payable in full regardless of any installment payment provisions, maturity date, or other terms and conditions of any Loan Document. 

  

	 	12.2	Enter, Manage, Control. The Lender may enter upon the Land and Improvements, exclude the Grantor, and anyone claiming by, through or under Grantor, from the Land and
Improvements, exercise all rights and powers of the Grantor with respect to the Property, and collect all Rents or other income thereof. 

  

	 	12.3	Exercise Rights as Secured Party. The Lender may exercise all of the rights and remedies of a secured party under the Arizona Uniform Commercial Code. The Grantor waives any
notice of disposition of any personal property, provided to the extent any such notice is required and cannot be waived, the Grantor agrees that such notice shall be deemed reasonable and shall fully satisfy any requirement for notice if such notice
is mailed, postage prepaid, to Grantor at least ten (10) days before the time of disposition. Any sale of any personal property may be made in conjunction with any state of the real property. 

  

	 	12.4	Sell Pursuant to Power of Sale. To the extent permitted by applicable law Grantor hereby waives any and all rights to have the property marshaled. The Lender may take
possession of and sell the Property at such time and place, subject to such leases, contracts and other interests as the Lender may elect, and in accordance with such procedures as may be required or permitted by applicable law. The Grantor hereby
authorizes and empowers the Trustees to take possession and sell (or in the case of any default of any purchaser to resell) the Property as aforesaid. This power of sale shall not be exhausted in the event any proceeding is dismissed before all
Obligations are satisfied in full. 

  

	 	12.5	 Other Proceedings. The Lender may proceed by suit or suits at law or in equity or by any other appropriate remedy to protect and enforce the rights of the
Trustees 

  

 11 

	 	 
and Lender, whether for the specific performance of any covenant or agreement contained in the Loan Documents, or in aid of the execution of any power
therein granted, or to foreclose this Deed of Trust, or to sell the Property under the judgment or decree of a court or courts of competent jurisdiction, or otherwise. 

  

	 	12.6	Appointment of Receiver. The Lender may, as a matter of right, without notice to the Grantor, without regard to the adequacy of the security and whether incidental to a
proposed sale of the Property or otherwise, seek the immediate appointment of a receiver of the Property and of the Rents and Leases, with all such powers as the court making such appointment shall confer, and the earnings, revenues, rents, issues
and profits and other income thereof or therefrom are hereby assigned to the Trustees as additional security under this Deed of Trust. 

  

	 	12.7	Insurance Policies. Beneficiary shall have the right upon an Event of Default, but not the obligation, to assign all of Grantor’s right, title and interest in and to all
policies of insurance on the Property and any unearned premiums paid on such insurance to any receiver or any purchaser of the Property at a foreclosure sale, and Grantor hereby appoints Lender as attorney in fact to assign and transfer such
policies. 

  

	 	12.8	Rights of Trustees. Trustees shall have all of the rights and duties of Lender as set forth in this section. 

  

	13.	Powers and Obligations of Trustees. The following provisions relating to the powers and obligations of Trustees are part of this Deed of Trust.

  

	 	13.1	Powers of Trustees. In addition to all powers of Trustees arising as a matter of law, Trustees shall have the power to take the following actions with respect to the Property
upon the written request of Lender and Grantor: (a) join in preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any restriction on
the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust. 

  

	 	13.2	Obligations to Notify. Trustees shall not be obligated to notify any other party of a pending sale under any other trust deed or lien, or of any action or proceeding in which
Grantor, Lender, or Trustees shall be a party unless the action or proceeding is brought by Trustees. 

  

	 	13.3	Trustees. Trustees shall meet all qualifications required for Trustees under applicable law. In addition to the rights and remedies set forth above, with respect to all or
any part of the Property, the Trustees shall have the right to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent, provided by applicable law.

  

 12 

	14.	Lender May Bid. Upon any sale made by virtue of this Deed of Trust, the Lender may bid for and acquire the Property or any part thereof, and may make settlement for
the purchase price by crediting to the Obligations the net sales price after deducting therefrom the Lender’s Expenses, together with interest at the default rate provided in the Note (the “Default Rate”), and any other sums
which Lender is authorized to deduct under this Deed of Trust and applicable law. 

  

	15.	Expenses. The performance of each and every obligation on the Grantor’s part under the Loan Documents shall be at the sole expense of the Grantor, and neither the
Lender nor the Trustees shall have any obligation for any such expenses. In addition to any other amounts required to be paid by the Grantor under the Loan Documents or with respect to the Property, the Grantor shall pay the following (collectively
called the “Expenses”): (a) all filing, registration and recording costs and fees and all federal, state, county and municipal stamp taxes and other taxes, duties, imposts, assessments and charges in connection with the recordation
or filing of any Loan Documents or related instruments, and any documents in connection with any foreclosure, deed in lieu of foreclosure or other dispositions of the Property following an Event of Default; (b) all fees, costs and expenses incident
to any foreclosure, deed in lieu of foreclosure or other disposition of the Property pursuant to exercise by the Lender and/or Trustees of their rights and remedies upon any Event of Default, including but not limited to in case of foreclosure, a
commission on the total amount of the Obligations equal to one-half (1/2) of the percentage allowed as commissions to trustees making sales under similar circumstances in the jurisdiction where the Land and Improvements, or any portion thereof, are
located; (c) all costs and expenses in connection with the development, construction, management, operation, maintenance, repair and replacement of the Property; and (d) all other costs and expenses included as part of the Obligations (as defined
above). All Expenses paid or incurred by the Lender or Trustees shall be reimbursed by the Grantor to the Lender on demand (provided no such demand shall be required if an Event of Default has occurred), shall bear interest at the Default Rate from
the date of demand (or the date an Event of Default occurs if no demand has been made) until paid, and shall, together with such interest, constitute part of the Obligations. 

  

	16.	Application of Proceeds. The proceeds of any sale made by virtue of this Deed of Trust, together with any other sums which then may be held by the Trustees or Lender
hereunder, shall be applied to the Expenses and the Obligations in such order as the Lender shall determine in its exclusive discretion. 

  

	17.	Lender’s Right to Protect Security. The Trustees and Lender are hereby authorized to do any one or more of the following, irrespective of whether an Event of
Default has occurred: (a) appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Trustees or the Lender hereunder; (b) purchase such insurance policies covering the Property as the
Lender may elect if the Grantor fails to maintain the insurance coverage required hereunder; and (c) take such action as the Trustees or the Lender may determine to pay, perform or comply with any Impositions or Legal Requirements, to cure any
Events of Default and to protect its security in the Property. 

  

 13 

	18.	Appointment of Lender as Attorney-in-Fact. The Lender, or any officer of the Lender, is hereby irrevocably appointed attorney-in-fact for the Grantor (without
requiring any of them to act as such), such appointment being coupled with an interest, to do any or all of the following: (a) collect the Rents after the occurrence of an Event of Default; (b) settle for, collect and receive any awards payable
under Section 8 (Condemnation) from the authorities making the same; and (c) execute, deliver and file such financing statements and other instruments as the Lender may require in order to perfect and maintain its security interest under the Uniform
Commercial Code on any portion of the Property. 

  

	19.	Certain Waivers. Grantor hereby waives (a) any appointment, valuation, stay, extension or redemption laws now or hereafter in force which could prevent or hinder the
enforcement or foreclosure of the lien of this Deed of Trust, or the absolute sale of the Property, or the final or absolute putting into possession thereof, immediately after such sale, of the purchaser thereof, (b) any claim against the Lender or
Trustees for any entry on the Land or Improvements, and (c) any and all right to have the estates comprised in the security created hereby marshaled upon any foreclosure of the lien of this Deed of Trust and agrees that the Trustees, or any court
having jurisdiction to foreclose such lien, may sell the Property as an entirety or in such one or more parcels as they may deem appropriate. The Grantor hereby waives and releases all benefit that might accrue to the Grantor by virtue of any
present or future law exempting the Property, or any part of the proceeds arising from any sale thereof, from attachment, levy or sale on execution, or providing for any stay of execution, exemption from civil process or extension of time for
payment, and, unless specifically required herein, all notices of the Grantor’s default or of the Lender’s election to exercise, or the Lender’s actual exercise of any option under this Deed of Trust or any other Loan Document.

  

	20.	Rights of Lender, Trustees Cumulative. Each right, power and remedy of the Lender or Trustees provided in the Loan Documents shall be in addition to every other right,
power or remedy, and the exercise or beginning of the exercise by the Lender or Trustees of any one or more of such rights, powers or remedies shall not preclude the simultaneous or later exercise by the Lender or Trustees of any or all such other
rights, powers or remedies. 

  

	21.	Trustees’ Liability; Powers. The Trustees shall not be obligated to perform any act required of them hereunder unless requested by the Lender in writing and the
Trustees are indemnified against all loss, cost, liability and expense. The Trustees shall be protected in acting upon any document believed by them to be genuine and shall not have any liability hereunder except for willful misconduct or gross
negligence. The Trustees may at any time consult with counsel, and any opinion of counsel shall be full and complete authorization and protection in respect of any action taken or not taken by Trustees in accordance with such opinion of counsel.
Trustees shall be vested with all powers of trustees under deeds of trust covering real property in the state of Arizona. The Trustees may act hereunder jointly, or either Trustee may act separately, and each Trustee shall have full power to
exercise all powers and discretions herein granted to the Trustees without the joinder of any other Trustee. 

  

 14 

	22.	Substitution of Trustees. From time to time, by a deed of appointment and/or substitution, the Lender may appoint another trustee or trustees to act in the place and
stead of the Trustees or either of them or any successor to either of them. A writing recorded pursuant to the provisions of this Section shall be conclusive proof of the proper substitution of a new trustee. Any Trustee may resign by sending a
written resignation to the Lender. 

  

	23.	Notices. All notices, demands, requests, consents, approvals and other communications required or permitted hereunder must be in writing and will be effective upon
receipt to the Grantor, the Trustees or the Lender. Such notices and other communications may be hand-delivered, sent by facsimile transmission with confirmation of delivery and a copy sent by first-class mail, or sent by nationally recognized
overnight courier service, to a party’s address set forth above or to such other address as the Grantor, the Trustees or the Lender may give to the other in writing for such purpose. For notice purposes, Grantor agrees to keep Lender and
Trustees informed at all times of Grantor’s current address. 

  

	24.	Further Acts. The Grantor will, at the cost of the Grantor, and without expense to the Lender, do, execute, acknowledge and deliver all and every such further acts,
deeds, conveyances, mortgages, assignments, notices of assignment, transfers and assurances as the Lender shall, from time to time, require for the better assuring, conveying, assigning, transferring or confirming unto the Lender the property and
rights hereby mortgaged, or which Grantor may be or may hereafter become bound to convey or assign to the Lender, or for carrying out the intent of or facilitating the performance of the terms of this Deed of Trust or for filing, registering or
recording this Deed of Trust. 

  

	25.	Changes in the Laws Regarding Taxation. If any law is enacted or adopted or amended after the date of this Deed of Trust which deducts the Obligations from the value
of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Grantor or the Lender’s interest in the Property, the Grantor will pay such tax, with interest and penalties thereon, if any.

  

	26.	Documentary Stamps. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be
affixed to the Note or this Deed of Trust, or impose any other tax or charge on the same, the Grantor will pay for the same, with interest and penalties thereon, if any. 

  

	27.	Preservation of Rights. No delay or omission on the part of the Lender or the Trustees to exercise any right or power arising hereunder will impair any such right or
power or be considered a waiver of any such right or power, nor will the Lender’s action or inaction impair any such right or power. The Lender’s and Trustees’ rights and remedies hereunder are cumulative and not exclusive of any
other rights or remedies that they may have under other agreements, at law or in equity. The Lender and the Trustees may exercise any one or more of its rights and remedies without regard to the adequacy of its security. 

  

 15 

	28.	Illegality. In case any one or more of the provisions contained in this Deed of Trust should be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. 

  

	29.	Changes in Writing. No modification, amendment or waiver of any provision of this Deed of Trust nor consent to any departure by the Grantor therefrom will be effective
unless made in a writing signed by the Lender, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on the Grantor in any case will entitle the Grantor to any
other or further notice or demand in the same, similar or other circumstance. 

  

	30.	Entire Agreement; No Merger. This Deed of Trust (including the documents and instruments referred to herein) constitutes the entire agreement and supersedes all other
prior agreements and understandings, both written and oral, by and among the Grantor, the Trustees and the Lender with respect to the subject matter hereof. There shall be no merger of the interest or estate created by this Deed of Trust with any
other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender. 

  

	31.	Survival of Certain Provisions. This Deed of Trust will be binding upon and inure to the benefit of the Grantor, the Trustees and the Lender and their respective
heirs, executors, administrators, successors and assigns; provided, however, that the Grantor may not assign this Deed of Trust in whole or in part without the prior written consent of the Lender and the Lender at any time may assign
this Deed of Trust in whole or in part; and provided, further, that the rights and benefits under the Paragraphs entitled “Environmental Matters”, “Inspection of Property” and “Indemnity” shall also inure
to the benefit of any persons or entities who acquire title or ownership of the Property from or through the Trustees or the Lender or through action of the Trustees or the Lender (including a foreclosure, or trustee’s, sheriff’s or
judicial sale). The provisions of Paragraphs entitled “Environmental Matters”, “Inspection of Property” and “Indemnity” shall survive the termination, satisfaction or release of this Deed of Trust, the foreclosure of
this Deed of Trust or the delivery of a deed in lieu of foreclosure. 

  

	32.	Interpretation. In this Deed of Trust, the singular includes the plural and the plural the singular; references to statutes are to be construed as including all
statutory provisions consolidating, amending or replacing the statute referred to; the word “or” shall be deemed to include “and/or”, the words “including”, “includes” and “include” shall be deemed
to be followed by the words “without limitation” and references to sections or exhibits are to those of this Deed of Trust unless otherwise indicated. Section headings in this Deed of Trust are included for convenience of reference only
and shall not constitute a part of this Deed of Trust for any other purpose. If this Deed of Trust is executed by more than one party as Grantor, the obligations of such persons or entities will be joint and several. 

  

 16 

	33.	Indemnity. The Grantor agrees to indemnify each of the Trustees, the Lender, and their directors, officers and employees and each legal entity, if any, who controls
the Trustees or the Lender (the “Indemnified Parties”) and to hold each Indemnified Party harmless from and against any and all claims, damages, losses, liabilities and expenses (including all fees and charges of internal or
external counsel with whom any Indemnified Party may consult and all expenses of litigation or preparation therefor) which any Indemnified Party may incur or which may be asserted against any Indemnified Party in connection with or arising out of
the matters referred to in this Deed of Trust or in the other Loan Documents by any person, entity or governmental authority (including any person or entity claiming derivatively on behalf of the Grantor), whether (a) arising from or incurred in
connection with any breach of a representation, warranty or covenant by the Grantor, or (b) arising out of or resulting from any suit, action, claim, proceeding or governmental investigation, pending or threatened, whether based on statute,
regulation or order, or tort, or contract or otherwise, before any court or governmental authority, which arises out of or relates to this Deed of Trust, any other Loan Document, or the use of the proceeds of the Loan; provided,
however, that the foregoing indemnity agreement shall not apply to claims, damages, losses, liabilities and expenses solely attributable to an Indemnified Party’s gross negligence or willful misconduct. The indemnity agreement contained
in this Section shall survive the termination of this Deed of Trust, payment of any Loan and assignment of any rights hereunder. The Grantor may participate at its expense in the defense of any such action or claim. 

  

	34.	Governing Law and Jurisdiction. This Deed of Trust has been delivered to and accepted by the Lender and will be deemed to be made in the State where the Lender’s
office indicated above is located. THIS DEED OF TRUST WILL BE INTERPRETED AND THE RIGHTS
AND LIABILITIES OF THE GRANTOR AND THE LENDER DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE STATE WHERE THE LENDER’S OFFICE INDICATED
ABOVE IS LOCATED, EXCEPT THAT THE LAWS OF THE STATE WHERE THE
PROPERTY IS LOCATED (IF DIFFERENT FROM THE STATE WHERE SUCH OFFICE OF
THE LENDER IS LOCATED) SHALL GOVERN THE CREATION, PERFECTION AND ENFORCEMENT
OF THE LIENS CREATED HEREUNDER ON THE PROPERTY OR ANY INTEREST
THEREIN. The Grantor hereby irrevocably consents to the exclusive jurisdiction of any state or federal court in the county or judicial district where the Lender’s office indicated above is located; provided that nothing
contained in this Deed of Trust will prevent the Lender from bringing any action, enforcing any award or judgment or exercising any rights against the Grantor individually, against any security or against any property of the Grantor within any other
county, state or other foreign or domestic jurisdiction. The Grantor acknowledges and agrees that the venue provided above is the most convenient forum for both the Lender and the Grantor. The Grantor waives any objection to venue and any objection
based on a more convenient forum in any action instituted under this Deed of Trust. 

  

	35.	 Lender, Trustees Have No Liability. Neither the Lender nor the Trustees shall have any liability whatsoever to the Grantor or any other person for the
performance or non-performance by the Grantor under any lease, contract, permit, lien or other agreement or obligation of the Grantor with respect to the Property. No approval, waiver or other 

  

 17 

	 	 
action or inaction by the Lender or Trustees with respect to any such matter shall render the Lender or Trustees liable in any way to the Grantor or any
other person. 

  

	36.	Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Arizona as to all
indebtedness secured by this Deed of Trust. 

  

	37.	WAIVER OF JURY TRIAL. THE GRANTOR IRREVOCABLY WAIVES ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO
THIS DEED OF TRUST, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS DEED OF TRUST OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE GRANTOR ACKNOWLEDGES THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY. 

  
 The Grantor acknowledges that it has read and understood all the provisions of this Deed
of Trust, including the waiver of jury trial, and has been advised by counsel as necessary or appropriate. 
  

 18 

 Exhibit 10.23 
  
 WITNESS the due execution hereof as a document under seal, as of the date first written above, with the intent to be legally bound
hereby. 
  

			
	 EHP PHOENIX SUITES, LLC
 an Arizona limited liability company

		
	By:	 	 /s/ J. William Blackham, III

	 	 	 J. William Blackham, III

	 	 	 President & CEO

  

			
	 PHOENIX SUITES TRS, INC.,
 a Maryland corporation

		
	By:	 	 /s/ J. William Blackham, III

	 	 	 J. William Blackham, III

	 	 	 President & CEO

  

									
	 SEALED AND DELIVERED IN THE PRESENCE OF:
	 	 	 	 
	 	 	 	 	 
					
	 Print Name:
	 	 	 	 	 	Print Name:	 	 

									
					
	 Title:
	 	 	 	 	 	Title:	 	 
	 	 	 	 	 	 	 	 	 
			
	 	 	 	 	 

  
 COMMONWEALTH OF KENTUCKY) 

                                       
                      )SS: 
 COUNTY OF
                                     ) 
  
 Before me, a Notary Public in and for said County and State, personally appeared J. William
Blackham, III, President & CEO of EHP PHOENIX SUITES, LLC, a limited liability company organized and existing under the laws of the State of Arizona and PHOENIX SUITES TRS, INC., a Maryland corporation, who acknowledged the
execution of the foregoing Deed of Trust for and on behalf of said limited liability company and corporation, and who, has been duly sworn, stated that the representations therein contained are true. 
  
 Witness my hand and Notarial Seal this
             day of                     , 2005. 
  

	
	 
	Print Name:___________________, a notary Public
	Residing in ___________________ County, Indiana
	My Commission Expires: _____________________

  

 19 

  
 Exhibit 10.23

  
 EXHIBITS 
  

	A.	Legal Description 

  

	B.	Permitted Encumbrances 

  

 20 

  
 Exhibit A 

 
 Legal Description 
  

 21 

  
 Exhibit B 

 
 Permitted Encumbrances 
  
 Those exceptions listed on the Title Commitment delivered by Grantor to Lender in connection
with the execution of this Instrument. 
  

 22

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