Document:

<PAGE> 1
EXHIBIT 10.01
ASSIGNMENT OF SOFTWARE AGREEMENT

     WHEREAS, Burke T. Maxfield (hereinafter referred to as "Maxfield" or
"Assignor"), is the developer and owner of the certain software that
calculates and chronicles numerous types of golf league and group competitions
(the "Software"), which, without the Software, are time consuming and
consequently impractical to calculate):

     WHEREAS, Assignor is desirous of assigning his entire right, title, and
interest in and to said Software to UbetIGolf, Inc, a Utah corporation
(hereinafter "Assignee");

     WHEREAS, Assignor wished to make a capital contribution in addition to
the assignment of rights to the Software described above to the Assignee in
the amount of $10,000 cash;

     NOW, THEREFORE, for and in consideration of 6,000,000 shares of
Assignee's common stock, receipt and sufficiency of which is hereby
acknowledged, Assignor, by these presents does sell, assign, and transfer to
Assignee,  its entire right, title and interest in and to the Software,
including any patents or trademarks thereon and any reissues or extensions
thereof to be held and enjoyed by Assignee for its own use and benefit and for
its successors, or assigns, to the full end of the term or terms for which
said patents and trademarks and any reissues or extensions thereof may be
granted, as fully and entirely as the same would have been held by Assignor
had this assignment and sale not been made.

     Assignor covenants and agrees that, at the request of Assignee, its
successors, or assigns, Assignor will, without demanding any further
consideration therefor and without expense to Assignor to do all lawful and
just acts, including the execution and acknowledgment of instruments which may
be or may become necessary for obtaining, sustaining, reissuing or extending
any patents or trademarks and for maintaining and perfecting Assignee's rights
to said patents or trademarks and will testify in cases of interference when
requested to do so by Assignee.  Assignor further covenants and agrees that
Assignee shall have the rights to develop the Software at its own expense and
on its own behalf for use in any and all available markets.

     This Agreement shall be governed by and construed in accordance with the
laws of the state of Utah.

DATED THIS 11th DAY OF May, 2000

/S/Burke T. Maxfield

     Subscribed and sworn to before me this 11th day of May, 2000.

/S/Audrey C. Staples, Notary Public
My commission expires January 14, 2001.NUMBER                                                        SHARES

                       AMERICAN COATING TECHNOLOGIES, INC.
            Incorporated Under the Laws of the State of Nevada

Common Stock Par Value $.001                              CUSIP

            THIS CERTIFIES THAT

              IS THE OWNER OF

FULLY PAID and NONASSESSABLE Shares of American Coating Technologies,
Inc., transferable only on the books of the Corporation by the holder
hereof in person or by duly authorized attorney upon surrender of this
Certificate properly endorsed.   This certificate is not valid unless
countersigned and registered by the Transfer Agent and Registrar

    Witness the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers.

Secretary                                                   PresidentExhibit 10.29

                            Lease Agreement between
                        CNL Hospitality Partners, LP and
                  WYN Orlando Lessee, LLC, dated June 1, 2000,
                     relating to Wyndham Denver Tech Center

<PAGE>

                                 LEASE AGREEMENT

                             DATED AS OF May 31, 2000

                                 BY AND BETWEEN

                          CNL HOSPITALITY PARTNERS, LP

                         A DELAWARE LIMITED PARTNERSHIP

                                  AS LANDLORD,

                                       AND

                            WYN ORLANDO LESSEE, LLC,

                      A DELAWARE LIMITED LIABILITY COMPANY

                                    AS TENANT

                                                                     Denver Tech
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                                TABLE OF CONTENTS

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ARTICLE 1........................................................................................................

DEFINITIONS......................................................................................................

ARTICLE 2........................................................................................................

LEASED PROPERTY AND TERM.........................................................................................

     2.1 Leased Property.........................................................................................

     2.2 Condition of Leased Property............................................................................

     2.3 Initial Term............................................................................................

     2.4 Extended Term...........................................................................................

ARTICLE 3........................................................................................................

RENT.............................................................................................................

     3.1 Rent....................................................................................................

     3.2 Landlord Advances.......................................................................................

     3.3 Sales Tax...............................................................................................

     3.4 Payment of Rent.........................................................................................

     3.5 Late Payment of Rent....................................................................................

     3.6 Net Lease...............................................................................................

     3.7 No Abatement of Rent....................................................................................

     3.8 Minimum Rent Reserve....................................................................................

     3.9 Security Deposit........................................................................................

     3.10  Additional Rentals on Conversion Costs Earn-Outs......................................................

ARTICLE 4........................................................................................................

USE OF THE LEASED PROPERTY; CONFLICTING BUSINESS.................................................................

     4.1 Permitted Use...........................................................................................

     4.2 Environmental Matters...................................................................................

     4.3 Conflicting Businesses Prohibited.......................................................................

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     4.4 Continuous Operations...................................................................................

     4.5 Compliance With Restrictions, Etc.......................................................................

     4.6 Standard of Operation...................................................................................

     4.7 Survival................................................................................................

ARTICLE 5........................................................................................................

MAINTENANCE AND REPAIRS..........................................................................................

     5.1 Maintenance and Repair..................................................................................

     5.2 Yield Up................................................................................................

ARTICLE 6........................................................................................................

IMPROVEMENTS, ETC................................................................................................

     6.1 Prohibition.............................................................................................

     6.2 Permitted Renovations...................................................................................

     6.3 Additions, Expansions and Structural Alterations........................................................

     6.4 Salvage.................................................................................................

ARTICLE 7........................................................................................................

LANDLORD'S INTEREST NOT SUBJECT TO LIENS.........................................................................

     7.1 Liens, Generally........................................................................................

     7.2 Mechanics Liens.........................................................................................

     7.3 Contest of Mechanics Liens..............................................................................

     7.4 Notices of Commencement of Construction.................................................................

ARTICLE 8........................................................................................................

TAXES AND ASSESSMENTS............................................................................................

     8.1 Obligation to Pay Taxes.................................................................................

     8.2 Tax Account.............................................................................................

     8.3 Permitted Contests......................................................................................

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ARTICLE 9........................................................................................................

INSURANCE........................................................................................................

     9.1 General Insurance Requirements..........................................................................

     9.2 Waiver of Subrogation...................................................................................

     9.3 General Provisions......................................................................................

     9.4 Blanket Policy..........................................................................................

     9.5 Indemnification of Landlord.............................................................................

ARTICLE 10.......................................................................................................

CASUALTY.........................................................................................................

    10.1 Restoration and Repair..................................................................................

    10.2 Insufficient Insurance Proceeds.........................................................................

    10.3 Escrow of Insurance Proceeds............................................................................

    10.4 Repairs.................................................................................................

    10.5 Abatement of Rent.......................................................................................

    10.6 Tenant's Property and Business Interruption Insurance...................................................

    10.7 Restoration of Tenant's Property........................................................................

    10.8 Waiver..................................................................................................

ARTICLE 11.......................................................................................................

CONDEMNATION.....................................................................................................

    11.1 Total Condemnation, Etc.................................................................................

    11.2 Partial Condemnation; Temporary Condemnation............................................................

    11.3 Disbursement of Award...................................................................................

    11.4 Abatement of Rent.......................................................................................

    11.5 Disputes................................................................................................

ARTICLE 12.......................................................................................................

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DEFAULTS AND REMEDIES............................................................................................

    12.1 Events of Default.......................................................................................

    12.2 Remedies on Default.....................................................................................

    12.3 Application of Funds....................................................................................

    12.4 Landlord's Right to Cure Tenant's Default...............................................................

    12.5 Landlord's Lien.........................................................................................

    12.6 The Other Leases........................................................................................

    12.7 Landlord's Default......................................................................................

    12.8 Special Remedies for Landlord Funding Default...........................................................

ARTICLE 13.......................................................................................................

HOLDING OVER.....................................................................................................

ARTICLE 14.......................................................................................................

LIABILITY OF LANDLORD; INDEMNIFICATION...........................................................................

    14.1 Liability of Landlord...................................................................................

    14.2 Notice of Claim or Suit.................................................................................

    14.3 Limitation on Liability of Landlord.....................................................................

ARTICLE 15.......................................................................................................

REIT REQUIREMENTS................................................................................................

ARTICLE 16.......................................................................................................

SUBLETTING AND ASSIGNMENT SALE OF LEASED PROPERTY; LANDLORD'S RIGHT TO ACQUIRE LEASEHOLD INTEREST;
     TRANSFERS BY LANDLORD.......................................................................................

    16.1 Transfers Prohibited Without Consent....................................................................

    16.2 Indirect Transfer Prohibited Without Consent............................................................

    16.3 Adequate Assurances.....................................................................................

    16.4 Change in Control of Wyndham............................................................................

    16.5 Sale of the Leased Property.............................................................................

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   16.6  Landlord's Right to Acquire the Leasehold Interest......................................................

   16.7  Portfolio Assignment....................................................................................

   16.8  Permitted Sublease......................................................................................

   16.9  Transfers by Landlord...................................................................................

   16.10 Transfers of Interests in Landlord......................................................................

ARTICLE 17.......................................................................................................

ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS...................................................................

   17.1  Estoppel Certificates...................................................................................

   17.2  Financial Statements....................................................................................

   17.3  Records.................................................................................................

   17.4  General Operations......................................................................................

   17.5  Quarterly Meetings......................................................................................

ARTICLE 18.......................................................................................................

LANDLORD'S RIGHT TO INSPECT......................................................................................

ARTICLE 19.......................................................................................................

ALTERNATIVE DISPUTE RESOLUTION...................................................................................

   19.1  Negotiation.............................................................................................

   19.2  Arbitration.............................................................................................

ARTICLE 20.......................................................................................................

HOTEL MORTGAGES..................................................................................................

   20.1  Subordination...........................................................................................

   20.2  Attornment..............................................................................................

   20.3  Rights of Mortgagees and Assignees......................................................................

ARTICLE 21.......................................................................................................

ADDITIONAL COVENANTS OF TENANT...................................................................................

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   21.1  Conduct of Business.....................................................................................

   21.2  Additional Covenants of Tenant..........................................................................

   21.3  Tenant a Single Purpose Entity..........................................................................

   21.4  Distributions, Payments to Affiliated Persons, Etc......................................................

   21.5  Compliance with Management Agreement....................................................................

ARTICLE 22.......................................................................................................

MISCELLANEOUS....................................................................................................

   22.1  Limitation on Payment of Rent...........................................................................

   22.2  No Waiver...............................................................................................

   22.3  Remedies Cumulative.....................................................................................

   22.4  Severability............................................................................................

   22.5  Acceptance of Surrender.................................................................................

   22.6  No Merger of Title......................................................................................

   22.7  Tenant's Representations................................................................................

   22.8  Quiet Enjoyment.........................................................................................

   22.9  Recordation of Memorandum of Lease......................................................................

   22.10 Notices.................................................................................................

   22.11 Construction; Nonrecourse...............................................................................

   22.12 Counterparts; Headings..................................................................................

   22.13 Applicable Law, Etc.....................................................................................

   22.14 Right to Make Agreement.................................................................................

   22.15 Brokerage...............................................................................................

   22.16 No Partnership or Joint Venture.........................................................................

   22.17 Entire Agreement........................................................................................

   22.18 Costs and Attorneys' Fees...............................................................................

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   22.19 Approval of Landlord....................................................................................

   22.20 Successors and Assigns..................................................................................

   22.21 Waiver of Jury Trial....................................................................................

   22.22 Treatment of Lease......................................................................................

   22.23 Landlord's Option to Acquire the Tenant's Personal Property; Transfer of Licenses.......................

   22.24 Landlord's Representations..............................................................................

   22.25 Guaranty................................................................................................

</TABLE>

                                       vii

<PAGE>

                                    EXHIBITS
<TABLE>
<CAPTION>

<S>                                       <C>
 EXHIBIT "A"      -   Permitted Encumbrances

 EXHIBIT "B"      -  The Land

 EXHIBIT "C"      -  Estoppel Certificate

 EXHIBIT "D"      -  Memorandum of Lease

 EXHIBIT "E"      -  Single Purpose Entity Requirements

 EXHIBIT "F"      -  Property Expenses

 EXHIBIT "G"      -  Tenant Equity Ownership

 EXHIBIT "H"      -  Agreement of Guaranty

 EXHIBIT "I"      -  The Proscribed Area

 EXHIBIT "J"      -  Allocation of Minimum Rent Between Real Property and Personal  Property

 EXHIBIT "K"      -  Letter of Credit

 EXHIBIT "L"      -  Post Closing Due Diligence Undertakings

</TABLE>

                                      viii

<PAGE>

                                 LEASE AGREEMENT

     THIS LEASE  AGREEMENT is entered into as of this 31st day of May,  2000, by
and between CNL HOSPITALITY  PARTNERS,  LP, a Delaware Limited  Partnership,  as
landlord ("Landlord"), and WYN ORLANDO LESSEE, LLC, a Delaware Limited Liability
Company, as tenant ("Tenant").

                              W I T N E S S E T H:

     WHEREAS,  Landlord has  heretofore  acquired fee simple title to the Leased
Property (this and other capitalized terms used and not otherwise defined herein
having the meanings ascribed to such terms in ARTICLE 1); and

     WHEREAS,  Landlord wishes to lease the Leased Property to Tenant and Tenant
wishes to lease the Leased  Property from Landlord,  all subject to and upon the
terms and conditions herein set forth;

     NOW,  THEREFORE,  in consideration of the mutual covenants herein contained
and  other  good and  valuable  consideration,  the  mutual  receipt  and  legal
sufficiency of which are hereby  acknowledged,  Landlord and Tenant hereby agree
as follows:

                                    ARTICLE 1

                                   DEFINITIONS

     For all purposes of this Agreement,  except as otherwise expressly provided
or unless the context otherwise requires,  (a) the terms defined in this Article
and used in this  Agreement  shall have the  meanings  assigned  to them in this
Article and include the plural as well as the singular, (b) all accounting terms
not  otherwise  defined  herein  shall  have the  meanings  assigned  to them in
accordance  with GAAP and the Uniform System of Accounts,  (c) all references in
this Agreement to designated  "Articles,"  "Sections" and other subdivisions are
to the designated  Articles,  Sections and other subdivisions of this Agreement,
and (d) the words  "herein,"  "hereof,"  "hereunder"  and other words of similar
import  refer to this  Agreement as a whole and not to any  particular  Article,
Section or other subdivision.

     "Accessibility Laws" shall mean all applicable laws, statutes, regulations,
rules,  ordinances,  codes,  licenses,  permits and orders, from time to time in
existence,  of all courts of competent jurisdiction and Government Agencies, and
all applicable judicial and administrative and regulatory decrees, judgments and
orders,   including   common  law  rulings  and   determinations,   relating  to
accessibility  for the disabled or handicapped,  including,  but not limited to,
any  applicable  provisions  of The  Architectural  Barriers  Act of  1968,  The
Rehabilitation Act of 1973, The Fair Housing Act of 1988, The Americans With

                                        1

<PAGE>

Disabilities Act, the accessibility  code(s),  if any, of the State in which the
Leased Property is located, and all regulations and guidelines promulgated under
any all of the foregoing, as the same may be amended from time to time.

     "Accounting  Period"  shall  mean each four (4) week  accounting  period of
Tenant,  corresponding  to calendar  months.  If Tenant  shall,  for a bona fide
business  reason,  change its  accounting  period  during the Term,  appropriate
adjustments,  if any,  shall be made with  respect to the  timing of  applicable
accounting and reporting requirements of this Agreement; provided, however, that
in no event shall any such change or adjustment alter the amount or frequency of
payment  of Minimum  Rent  within any Fiscal  Year,  or alter the  frequency  of
payment of  Percentage  Rent to less than four (4) times within any Fiscal Year,
or otherwise increase or reduce any monetary obligation under this Agreement.

     "Acquisition  Properties"  shall  mean the Leased  Property  and the leased
property  contemplated  by that certain  Lease  Agreement of even date  herewith
between  Landlord  and Tenant  with  respect to the  Wyndham  Denver Tech Center
Hotel.

     "Additional  Capital  Investment" shall have the meaning given such term in
Section 5.1.3(c).

     "Additional  Charges"  shall  have the  meaning  given such term in Section
3.1.4.

     "Affiliated  Person" or "Affiliate" shall mean, with respect to any Person,
(a) any Person directly or indirectly Controlling, Controlled by or under common
Control  with any such  Person,  (b) in the case of any such  Person  which is a
partnership, any partner in such partnership, (c) in the case of any such Person
which is a limited  liability  company,  any member of such company,  (d) in the
case of any such  Person  which  is a  corporation,  any  officer,  director  or
stockholder  of such  corporation,  (e) any other  Person  which is a Parent,  a
Subsidiary, or a Subsidiary of a Parent with respect to such Person or to one or
more of the Persons  referred to in the  preceding  clauses (a) through (d), (f)
any other Person who is an officer, director, trustee or employee of, or partner
in, such Person or any Person  referred to in the preceding  clauses (a) through
(e) and (g) any other Person who is a member of, or trustee of any trust for the
benefit of, the Immediate  Family of such Person or of any Person referred to in
the preceding clauses (a) through (f). Provided,  however, a Person shall not be
deemed to be an Affiliated Person solely by virtue of the ownership of shares of
stock  registered  under the  Securities  Act of 1934,  as amended,  unless such
Person,  as holder of such stock,  is required to file a Schedule 13 D, pursuant
to Section 13(d) of such Act and Rule 13 d-1 promulgated thereunder.

     "Agreement" shall mean this Lease Agreement, including all Exhibits hereto,
as it and they may be amended from time to time as herein provided.

     "Amount  Funded"  shall mean the  remainder  of (a) all  Minimum  Rent paid
during  each  Accounting  Period by Tenant  pursuant to the terms of this Lease,
less (b) the total amount of Cash Available for Lease Payments  during each such
Accounting Period derived from the Leased Property.

     "Annual  Operations  Statement"  shall have the meaning  given such term in
Section 3.1.3.

                                        2

<PAGE>

     "Applicable  Laws" shall mean all applicable laws,  statutes,  regulations,
rules,  ordinances,  codes,  licenses,  permits and orders, from time to time in
existence,  of all courts of competent jurisdiction and Government Agencies, and
all applicable judicial and administrative and regulatory decrees, judgments and
orders,  including common law rulings and determinations of any kind,  including
without  limitation,  those relating to injury to, or the protection of (a) real
or personal  property,  (b) human health and safety  (except those  requirements
which,  by definition,  are solely the  responsibility  of  employers),  (c) the
Environment, including, without limitation, all valid and lawful requirements of
courts  and  other  Government  Agencies  pertaining  to  reporting,  licensing,
permitting,  investigation,  remediation and removal of underground improvements
(including, without limitation, treatment or storage tanks, or water, gas or oil
wells), or emissions,  discharges,  releases or threatened releases of Hazardous
Substances,  chemical substances,  pesticides,  petroleum or petroleum products,
pollutants,  contaminants or hazardous or toxic substances,  materials or wastes
whether solid, liquid or gaseous in nature, into the Environment, or relating to
the manufacture,  processing,  distribution,  use, treatment, storage, disposal,
transport  or  handling  of  Hazardous  Substances,   underground   improvements
(including, without limitation, treatment or storage tanks, or water, gas or oil
wells), or pollutants,  contaminants or hazardous or toxic substances, materials
or wastes,  whether  solid,  liquid or gaseous in nature,  or (d)  Accessibility
Laws.

     "Applicable  Percentage" shall mean, with respect to any Accounting Period,
or portion thereof, (a) with respect to the period beginning on the Commencement
Date and ending on the last day of the  twelfth  (12th) full  Accounting  Period
next following the  Commencement  Date, three percent (3%) of Total Hotel Sales;
(b) with respect to the  thirteenth  (13th)  through  twenty-fourth  (24th) full
Accounting  Periods next following the  Commencement  Date, four percent (4%) of
Total Hotel Sales, and, (c) with respect to each Accounting  Period  thereafter,
five percent (5%) of Total Hotel Sales.

     "Approved  Reserve  Estimate"  shall  have the  meaning  given such term in
Section 5.1.2(c).

     "Award" shall mean all compensation,  sums or other value awarded,  paid or
received  by virtue of a total or partial  Condemnation  of the Leased  Property
(after  deduction of all reasonable  legal fees and other  reasonable  costs and
expenses,  including,  without  limitation,  expert  witness  fees,  incurred by
Landlord and/or Tenant, in connection with obtaining any such award).

     "Beginning  Index" shall mean the average  Index  published for each of the
twelve (12) months preceding the Commencement Date.

     "Big Five  Accounting  Firms" shall mean  Deloitte & Touche LLP,  KPMG LLP,
Ernst & Young LLP,  Arthur  Anderson and  PricewaterhouseCoopers  LLP, and their
lawful successors and assigns.

     "Building  Estimate"  shall  have the  meaning  given  such term in Section
5.1.3(a).

     "Business Day" shall mean any day other than Saturday, Sunday, or any other
day  on  which  banking  institutions  in the  State  are  authorized  by law or
executive action to close.

                                       3

<PAGE>

     "Calculation  Period"  shall  mean  each  successive  period  of  four  (4)
consecutive  Fiscal Quarters  commencing with the first Fiscal Quarter following
the  acquisition  by Landlord of the Leased  Property and the  execution of this
Agreement.

     "Capital Expenditure" shall mean any expenditure with respect to the Leased
Property treated as capital in nature in accordance with GAAP.

     "Cash  Available for Lease  Payments" shall mean the remainder of (i) Total
Hotel Sales for the Leased Property during a given Shortfall Calculation Period,
less (ii)  Property  Expenses  for the Leased  Property  for the same  Shortfall
Calculation Period.

     "CHC" shall mean CNL Hospitality Corp., a Florida corporation.

     "CHP" shall mean CNL Hospitality Properties, Inc., a Maryland corporation.

     "Claims" shall have the meaning given such term in Section 8.3.

     "COBRA" shall mean the Consolidated Omnibus Budget Reconciliation Act.

     "Code"  shall mean the  Internal  Revenue  Code of 1986 and,  to the extent
applicable,  the Treasury Regulations  promulgated  thereunder,  each as amended
from time to time.

     "Commencement Date" shall mean the date of this Agreement.

     "Common Tenth  Anniversary Date" shall mean the last day of the one hundred
twentieth (120) full Accounting  Period following the  Commencement  Date of the
last of the Other Leases to be entered into by Landlord and Tenant.

     "Company"  shall have the meaning  given such term in the  recitals of this
Agreement.

     "Condemnation"  shall mean (a) the exercise of any governmental  power with
respect to the Leased Property,  whether by legal proceedings or otherwise, by a
Condemnor of its power of condemnation,  (b) a voluntary sale or transfer of the
Leased   Property  by  Landlord  to  any  Condemnor,   either  under  threat  of
condemnation or while legal  proceedings for condemnation are pending,  or (c) a
taking or voluntary  conveyance  of all or part of the Leased  Property,  or any
interest therein,  or right accruing thereto or use thereof, as the result or in
settlement of any Condemnation or other eminent domain proceeding  affecting the
Leased Property, whether or not the same shall have actually been commenced.

     "Condemnor"  shall mean any  public or  quasi-public  authority,  or Person
having the power of Condemnation.

     "Conflicting  Business"  shall have the meaning  given such term in Section
4.3.

     "Control"  (including the correlative  meanings of the terms "Controlling",
"Controlled  by", and "under common  control  with") as used with respect to any
Person,  shall mean the  possession,  directly  or  indirectly,  of the power to
direct or cause the direction of the management  policies of such Person whether

                                       4

<PAGE>

through the ownership of voting securities,  or other interests,  by contract or
otherwise.

     "Conversion  Costs  Earn-Out"  shall  have the  meaning  given such term in
Section 3.10.

     "Default" shall mean any event or condition  existing which with the giving
of notice and/or lapse of time would ripen into an Event of Default.

     "Development  Properties" shall mean those properties identified on EXHIBIT
"I" attached hereto.

     "Disbursement  Rate"  shall  mean as of the date of  determination,  (i) an
annual rate of interest equal to, 10.5% during the period from the  Commencement
Date through the Common Tenth Anniversary Date and (ii) provided Landlord elects
to increase Minimum Rent as provided in Section 3.1 hereof,  for the first Lease
Year of the Term following the Common Tenth Anniversary Date, 10.5% as increased
by that percentage equal to the positive change in the Extension Index preceding
such Lease Year over the Beginning  Index,  and for each Lease Year  thereafter,
the applicable  Disbursement Rate for the Lease Year prior to such Lease Year as
increased by that percentage equal to the positive change in the Extension Index
preceding  such Lease Year over the  Extension  Index  preceding  the Lease Year
prior to such Lease Year.

     "Distribution" shall mean (a) any declaration or payment of any dividend on
or in respect of any shares of any class of capital  stock of Tenant,  if Tenant
is a  corporation,  or any cash  distributions  in  respect  of any  partnership
interests or membership  interests in Tenant,  if Tenant is a  partnership  or a
limited liability  company,  (b) any purchase,  redemption,  retirement or other
acquisition of any shares of any class of capital stock of Tenant,  if Tenant is
a corporation, or any purchase,  redemption,  retirement or other acquisition of
any partnership or membership interests in Tenant, if Tenant is a partnership or
a limited liability company,  (c) any other distribution on or in respect of any
shares of any class of capital stock of Tenant,  if Tenant is a corporation,  or
any other  distribution  in respect of any  partnership  interests or membership
interests in Tenant, if Tenant is a partnership or a limited liability  company,
or (d) any  return  of  capital  to  shareholders  of  Tenant,  if  Tenant  is a
corporation,  or any  return of capital to  partners  of Tenant,  if Tenant is a
partnership or a limited liability company.

     "Entity"  shall  mean any  corporation,  general  or  limited  partnership,
limited  liability  company,  partnership,  stock company or association,  joint
venture, association,  company, trust, bank, trust company, land trust, business
trust, cooperative, any government or agency or political subdivision thereof or
any other entity.

     "Environment"  shall  mean  soil,  surface  waters,  ground  waters,  land,
streams, sediments, surface or subsurface strata and ambient air.

     "Environmental  Notice"  shall have the meaning  given such term in Section
4.2.2.

     "Event of Default" shall have the meaning given such term in Section 12.1.

     "Extended Terms" shall have the meaning given such term in Section 2.4.

                                       5

<PAGE>

     "Extension  Index" shall mean the average  Index  published for each of the
twelve (12) months  preceding the Common Tenth  Anniversary Date and for each of
the twelve (12) months  preceding the  commencement of each Lease Year following
the Common Tenth Anniversary Date.

     "FAS" shall mean all items included within  "Property and Equipment"  under
the Uniform  System of Accounts,  including,  but not limited to, linen,  china,
glassware,  tableware,  uniforms and similar  items,  whether used in connection
with public space or guest rooms.

     "FF&E"  shall mean and refer to (a) all  machinery,  equipment,  furniture,
furnishings,  movable walls or partitions,  computers or trade fixtures or other
personal property of any kind or description used or useful in Tenant's business
on or in the Leased Improvements,  and located on or in the Leased Improvements,
and all modifications,  replacements, alterations and additions to such personal
property,  except items, if any,  included within the category of Fixtures,  but
specifically  excluding  all items  included  within the  category  of  Tenant's
Personal Property; and (b) the Fixtures.

     "Fiscal  Quarter" shall mean,  with respect to the first,  second and third
quarter of any Fiscal Year,  Accounting  Periods one (1) through three (3), four
(4) through six (6) and seven (7) through nine (9)  respectively  of such Fiscal
Year and,  with  respect to the fourth  quarter of any Fiscal  Year,  Accounting
Periods ten (10) through thirteen (12) of such Fiscal Year.

     "Fiscal Year" shall mean Tenant's Fiscal Year which as of the  Commencement
Date ends at midnight on December 31 in each calendar  year.  Any partial Fiscal
Year between the Commencement Date and the commencement of the first full Fiscal
Year  (except  with  respect to the  payment of Minimum  Rent as  referenced  in
paragraph 3.1.1 of this  Agreement),  shall constitute a separate Fiscal Year. A
partial  Fiscal  Year  between  the end of the  last  full  Fiscal  Year and the
termination of this Agreement  shall also  constitute a separate Fiscal Year. If
Tenant's Fiscal Year is changed in the future,  appropriate  adjustments to this
Agreement's  reporting  and  accounting  procedures  shall  be  made;  provided,
however,  that no  such  change  or  adjustment  shall  alter  the  Term of this
Agreement  or in any way reduce the  distribution  of  Percentage  Rent or other
payments due hereunder. Each full Fiscal Year shall consist of twelve Accounting
Periods.

     "Fixtures" shall have the meaning given such term in Section 2.1(d).

     "Force Majeure Event" means any circumstance which is not in the reasonable
control  of  Landlord  or  Tenant,  caused  by any of  the  following:  strikes,
lockouts; acts of God; civil commotion; fire or any other casualty; governmental
action (including  revocation or refusal to grant any required license or permit
where such revocation or refusal is not within the control of the party affected
thereby);  or other similar cause or circumstance which is not in the reasonable
control of either party hereto.  Neither lack of financing nor general  economic
and/or market factors is a Force Majeure Event.

     "GAAP" shall mean generally  accepted  accounting  principles  consistently
applied.

     "Government  Agencies"  shall mean any  legislative  body,  court,  agency,
authority,  board  (including,  without  limitation,  environmental  protection,
planning and zoning), bureau, commission,  department, office or instrumentality

                                       6

<PAGE>

of any nature whatsoever of any governmental or  quasi-governmental  unit of the
United States or the State or any county or any political  subdivision of any of
the foregoing,  whether now or hereafter in existence,  having jurisdiction over
Tenant or the Leased  Property  or any  portion  thereof  or the Hotel  operated
thereon.

     "Guarantor" shall mean Wyndham International, Inc., a Delaware corporation.

     "Guaranty"  shall  mean  that  certain  guaranty  of  Tenant's  obligations
hereunder  from  Guarantor in favor of Landlord of even date  herewith a copy of
what is attached hereto as EXHIBIT "H".

     "Hazardous Substances" shall mean any substance:

     (a) the presence of which requires or may hereafter  require  notification,
investigation  or  remediation  under  any  federal,  state  or  local  statute,
regulation, rule, ordinance, order, action or policy; or

     (b)  which  is  or  becomes  defined  as a  "hazardous  waste",  "hazardous
material" or "hazardous  substance" or  "pollutant" or  "contaminant"  under any
present or future federal, state or local statute, regulation, rule or ordinance
or  amendments  thereto  including,   without   limitation,   the  Comprehensive
Environmental  Response,  Compensation and Liability Act (42 U.S.C. et seq.) and
the Resource  Conservation and Recovery Act (42 U.S.C. Section 6901 et seq.) and
the regulations promulgated thereunder; or

     (c)  which  is  toxic,   explosive,   corrosive,   flammable,   infectious,
radioactive,  carcinogenic,  mutagenic or otherwise  hazardous and is or becomes
regulated by any governmental authority, agency, department,  commission, board,
agency or  instrumentality of the United States, any state of the United States,
or any political subdivision thereof; or

     (d) the  presence  of which on the  Leased  Property  causes or  materially
threatens to cause an unlawful  nuisance upon the Leased Property or to adjacent
properties  or poses or  materially  threatens  to pose a hazard  to the  Leased
Property or to the health or safety of persons on or about the Leased  Property;
or

     (e)  without  limitation,  which  contains  gasoline,  diesel fuel or other
petroleum hydrocarbons or volatile organic compounds; or

     (f)  without limitation, which contains polychlorinated biphenyls (PCBs) or
asbestos or urea formaldehyde foam insulation; or

     (g) without  limitation,  which  contains or emits  radioactive  particles,
waves or material; or

     (h)  without  limitation,  constitutes  materials  which  are  now  or  may
hereafter be subject to regulation  pursuant to the Material  Waste Tracking Act
of 1988, or any Applicable Laws promulgated by any Government Agencies.

                                       7

<PAGE>

     "Hotel"  shall mean the 180 room Wyndham  Denver Tech Center Hotel  located
and operated on the Land.

     "Hotel Mortgage" shall mean any encumbrance placed upon the Leased Property
as referenced in ARTICLE 20.

     "Immediate  Family"  shall  mean,  with  respect  to any  individual,  such
individual's spouse, parents, brothers,  sisters, children (natural or adopted),
stepchildren,  grandchildren,  grandparents,  parents-in-law,   brothers-in-law,
sisters-in-law, nephews and nieces.

     "Impositions"  shall  mean  collectively,  all  taxes  (including,  without
limitation,  all taxes imposed under the laws of the State,  as such laws may be
amended from time to time,  and all ad valorem,  sales,  use,  lodging,  casino,
single business, gross receipts,  transaction,  privilege, rent or similar taxes
as the same  relate to or are  imposed  upon  Landlord,  Tenant or the  business
conducted upon the Leased Property), assessments (including, without limitation,
all assessments for public improvements or benefit,  whether or not commenced or
completed  prior  to  the  date  hereof),  special  taxing  district  taxes  and
indebtedness, water, sewer or other rents and charges, excises, tax levies, fees
(including, without limitation,  license, permit, inspection,  authorization and
similar fees), and all other governmental  charges, in each case whether general
or special,  ordinary or  extraordinary,  or  foreseen or  unforeseen,  of every
character in respect of the Leased Property or the business conducted thereon by
Tenant or any  party  claiming  by,  through  or under  Tenant,  (including  all
interest and penalties  thereon due to any failure in payment by Tenant),  which
at any time prior to, during or in respect of the Term hereof may be assessed or
imposed  on or in respect of or be a lien upon (a)  Landlord's  interest  in the
Leased  Property,  (b) the  Leased  Property  or any  part  thereof  or any rent
therefrom or any estate, right, title or interest therein, or (c) any occupancy,
operation,  use or possession of, or sales from, or activity conducted on, or in
connection with the Leased Property or the leasing or use of the Leased Property
or any part thereof by Tenant; provided,  however, that nothing contained herein
shall be construed to require Tenant to pay (i) any tax based on net income, net
worth or capital  imposed on  Landlord,  (ii) any net revenue  tax of  Landlord,
(iii) any transfer  fee or other tax imposed with respect to the sale,  exchange
or other  disposition  by  Landlord,  of the  Leased  Property  or the  proceeds
thereof,  (iv) any single business,  gross receipts tax, transaction  privilege,
rent,  or similar tax, as the same relate to or are imposed upon  Landlord,  (v)
any  interest  or  penalties  imposed on  Landlord as a result of the failure of
Landlord to file any return or report  timely and in the form  prescribed by law
or to pay any tax or  imposition,  except to the extent such failure is a result
of a  breach  by  Tenant  of its  obligations  under  this  Agreement,  (vi) any
Impositions  imposed  on  Landlord  that  are a result  of  Landlord  not  being
considered a "United  States  person" as defined in Section  7701(a)(30)  of the
Code or (vii) any  Impositions  imposed as a result of a breach of  covenant  or
representation by Landlord in any agreement  entered into by Landlord  governing
Landlord's  conduct  or  operation  or as a result  of the gross  negligence  or
willful misconduct of Landlord (the matters  contemplated in items (i)-(vii) are
collectively referred to as the "Excluded Impositions").

     "Indebtedness" shall mean all obligations,  contingent or otherwise,  which
in accordance  with GAAP should be reflected on the  obligor's  balance sheet as
liabilities.

                                       8

<PAGE>

     "Index"  shall mean the Producer  Price Index For Full  Service  Hotels and
Motels  published  by the  Bureau  of  Labor  Statistics  of the  United  States
Department  of Labor (June  1993=100).  In the event such  Producer  Price Index
shall  hereafter  be  converted  to a different  standard  reference  base or is
otherwise  revised,  any determinations to be made pursuant to the provisions of
this  Agreement  with  reference to the Index shall be made with the use of such
different  standard  reference  base,  conversion  factor,  formula or table for
converting  the Producer  Price Index as may be published by the Bureau of Labor
Statistics,  or, if said Bureau shall not publish the same, then with the use of
such different standard reference base,  conversion factor,  formula or table as
may be published by  Prentice-Hall,  Inc. or, failing such  publication,  by any
other nationally recognized publisher of similar statistical information. In the
event such Producer Price Index shall cease to be published,  then, for purposes
of any  determination  to be made pursuant to the  provisions of this  Agreement
with reference to the Index,  there shall be substituted  for the Producer Price
Index such other index as Landlord and Tenant shall agree upon, and, if they are
unable to agree  within 90 days  after the  Producer  Price  Index  ceases to be
published, such matters shall be submitted to arbitration in accordance with the
provisions of ARTICLE 19.

     "Initial Term" shall have the meaning given such term in Section 2.3.

     "Institutional  Lender"  shall  mean  an  insurance  company,  bank,  trust
company,  savings  and  loan  association,  pension  and  profit-sharing  trust,
teacher's  annuity fund,  university,  real estate  investment  trust,  mortgage
company,  credit company,  investment banking firm, or any affiliate of any such
designated  institution  directly or  indirectly  controlling,  controlled by or
under  common  control  with  such  designated  institution,   which  designated
institution and/or its affiliate is regularly engaged in the business of making,
purchasing,  servicing,  or acting as trustee for the  holders of  interest  in,
loans.

     "Insurance  Requirements"  shall  mean all  terms of any  insurance  policy
required by this Agreement and all requirements of the issuer of any such policy
and all orders, rules and regulations and any other requirements of the National
Board of Fire  Underwriters  (or any other body  exercising  similar  functions)
binding upon Landlord, Tenant or the Leased Property.

     "Inventories"  shall mean "Inventories" as defined in the Uniform System of
Accounts,   including,   but  not  limited   to,   provisions   in   storerooms,
refrigerators,  pantries and kitchens; beverages in wine cellars and bars; other
merchandise intended for sale; fuel; mechanical supplies;  stationery; and other
expenses, supplies and similar items.

     "Land" shall have the meaning given such term in Section 2.1(a).

     "Landlord" shall have the meaning given such term in the preambles to this
Agreement and shall include its successors and assigns.

     "Lease Year" shall mean any Fiscal Year during the Term and any partial
Fiscal Year at the beginning or end of the Term.

     "Leased Improvements" shall have the meaning given such term in Section
2.1(b).

                                       9

<PAGE>

     "Leased Intangible  Property" shall mean all transferable or assignable (a)
governmental  permits,  including licenses and authorizations,  required for the
construction,  ownership  and  operation of the Leased  Improvements,  including
without  limitation,   certificates  of  occupancy,  building  permits,  signage
permits, liquor licenses, site use approvals, zoning certificates, environmental
and land use permits  and any and all  necessary  approvals  from state of local
authorities  and other  approvals  granted by any public  body or by any private
party pursuant to a recorded  instrument relating to such Leased Improvements or
the  Land;  and  (b)  certificates,  licenses,  warranties  and  guarantees  and
contracts other than such permits, operating permits, certificates, licenses and
approvals which are to held by, or transferred to, the Tenant in order to permit
the Tenant to operate such Leased  Improvements  properly and in accordance with
the terms of this Lease.

     "Leased Property" shall have the meaning given such term in Section 2.1.

     "Legal Requirements" shall mean all federal,  state, county,  municipal and
other  governmental  statutes,  laws, rules,  orders,  regulations,  ordinances,
judgments,  decrees  and  injunctions  affecting  the  Leased  Property  or  the
maintenance,  construction,  alteration  or  operation  thereof,  whether now or
hereafter  enacted  or in  existence,  including,  without  limitation,  (a) all
permits,  licenses,  authorizations,  certificates and regulations  necessary to
operate  the  Leased   Property  for  its  Permitted  Use,  (b)  all  covenants,
agreements,  declarations,   restrictions  and  encumbrances  contained  in  any
instruments  at any time in force  affecting  the  Leased  Property  or to which
Tenant has  consented  or required to be granted  pursuant to  Applicable  Laws,
including  those  which  may (i)  require  material  repairs,  modifications  or
alterations  in or to the  Leased  Property  or (ii) in any way  materially  and
adversely affect the use and enjoyment  thereof,  but excluding any requirements
arising as a result of Landlord's  status as a real estate investment trust, and
(c) Applicable Laws.

     "Lien" shall mean any mortgage,  security interest,  deed of trust, pledge,
collateral assignment, or other encumbrance,  lien or charge of any kind, or any
transfer of property  or assets for the  purpose of  subjecting  the same to the
payment of  Indebtedness  or performance of any other  obligation in priority to
payment of the obligor's general creditors.

     "Major  Capital  Expenditures"  shall have the  meaning  given such term in
Section 5.1.3(a).

     "Management Agreement" shall mean that certain Management Agreement dated
of even date with this Agreement between Tenant and Manager,  and any subsequent
Management Agreement entered into by Tenant and approved by Landlord in advance,
which  Management  Agreement  shall be expressly  junior and subordinate to this
Agreement and to Landlord's right, title, and interest hereunder.

     "Manager" shall mean Wyndham Management corporation, a Delaware
corporation,  a majority owned subsidiary of Wyndham, and any subsequent manager
approved by Landlord hereunder.

     "Minimum  Rent"  shall  mean  annual  rent as set forth in  Section  3.1.1,
subject  to  prorations   and   adjustments  as  set  forth  in  Section  3.1.1.

                                       10

<PAGE>

     "Minimum  Rent  Reserve"  shall mean the  reserve  established  pursuant to
Section 3.8 hereof.

     "Minimum Rent Coverage"  shall mean the quotient,  expressed as a ratio, of
(i) the Cash Available for Lease Payments during the Calculation  Period divided
by the (ii) Minimum Rent paid under this Lease during such Calculation Period.

     "Minor Alteration" shall have the meaning given such term in Section 6.2.

     "Mortgagee" shall mean the holder of any Hotel Mortgage.

     "Notice" shall mean a notice given in accordance with Section 22.10.

     "Other  Leases"  shall  mean,  collectively  any and all  lease  agreements
between  Landlord and Tenant with respect to the Acquisition  Properties and the
Development  Properties  which  shall,  if at all, be entered  into on or before
December 31, 2001.

     "Overdue  Rate" shall mean, on any date, a per annum rate of interest equal
to the  lesser  of (a)  fifteen  percent  (15%)  or (b) the  maximum  rate  then
permitted under applicable law.

     "Parent" shall mean, with respect to any Person, any Person which directly,
or indirectly through one or more Subsidiaries or Affiliated  Persons,  (a) owns
fifty-one percent (51%) or more of the voting or beneficial  interest in, or (b)
otherwise  has the right or power  (whether by  contract,  through  ownership of
securities or otherwise) to control, such Person.

     "Percentage Rent" shall have the meaning given such term in Section 3.1.2.

     "Permitted Encumbrances" shall mean all rights, restrictions, and easements
of record set forth on Schedule "B" to the  applicable  owner's title  insurance
policy issued to Landlord on the date hereof,  plus any other such  encumbrances
as may have been consented to in writing by Landlord from time to time.

     "Permitted  Use"  shall  mean  any  use of the  Leased  Property  permitted
pursuant to Section 4.1.1.

     "Person"  shall mean any  individual or Entity,  and the heirs,  executors,
administrators,  legal  representatives,  successors  and assigns of such Person
where the context so admits.

     "Portfolio  Assignee"  shall mean a Person other than an Affiliated  Person
that is  approved or deemed  approved  by Landlord as an assignee  pursuant to a
Portfolio Assignment under Section 16.7.

     "Portfolio  Assignment"  shall mean the  assignment  by Tenant and  express
written  assumption by Portfolio  Assignee of all of Tenant's rights,  title and
interests  in this  Agreement  and the Other  Leases  pursuant to Section  16.7.

     "Property  Expenses" shall mean those expenses more particularly  described
on EXHIBIT "F" attached hereto.

                                       11

<PAGE>

     "Proscribed Area" shall have the meaning given such term in Section 4.3.

     "Prohibited  Mortgage"  shall have the  meaning  given such term in Section
14.3.

     "Purchase  Agreement" shall mean the Purchase and Sale Agreement,  dated as
of May __, 2000, by and between WII Denver Tech,  LLC and PAH  Billerica  Realty
Company,   LLC,  as  seller,  CNL  Hospitality  Corp.,  as  buyer,  and  Wyndham
International, Inc., as Wyndham, as the same may be amended from time to time.

     "Rent" shall mean,  collectively,  the Minimum  Rent,  Percentage  Rent and
Additional Charges.

     "Reserve" shall have the meaning given such term in Section 5.1.2(a).

     "Reserve  Estimate"  shall  have the  meaning  given  such term in  Section
5.1.2(c).

     "Reserve  Expenditures"  shall have the meaning  given such term in Section
5.1.2(a).

     "SEC" shall mean the Securities and Exchange Commission.

     "Security Deposit" shall have the meaning given such term in Section 3.9.

     "Shortfall  Calculation  Period" shall,  mean each successive  period of 12
consecutive  Accounting Periods commencing with the first full Accounting Period
following the Commencement Date of this Lease.

     "Single Purpose Entity" shall have the meaning given such  term in  EXHIBIT
"E" attached hereto.

     "State" shall mean the State in which the Hotel is located.

     "Subsidiary" shall mean, with respect to any Person, any Entity in which
such  Person  directly,  or  indirectly  through  one or  more  Subsidiaries  or
Affiliated  Persons,  (a) owns fifty-one  percent (51%) or more of the voting or
beneficial interest or (b) which such Person otherwise has the right or power to
control (whether by contract, through ownership of securities or otherwise).

     "Successor  Landlord"  shall  have the  meaning  given such term in Section
20.1.

     "Tax Account" shall have the meaning given such term in Section 8.2.

     "Tax Escrow Amount" shall have the meaning given such term in Section 8.2.

     "Tenant" shall be the entity  identified in the preamble to this Agreement,
a wholly  owned,  single  purpose  entity  of  Wyndham,  and shall  include  its
successors and assigns expressly permitted hereunder.

     "Tenant's  Intangible  Personal  Property" shall mean Tenant's  proprietary
intellectual  property,  software,  manuals,  procedures,  processes  and  other
proprietary  information used in connection with the Hotel and any rights to the
name  "Patriot  American  Hospitality,"  "Patriot  American,"  "Patriot"  or any

                                       12

<PAGE>

derivative thereof; any rights to the name "Wyndham International," "Wyndham" or
any derivative thereof;  or any rights to the names of any Parent,  Subsidiaries
or Affiliated  Persons of Patriot American  Hospitality,  Inc., Patriot American
Hospitality   Partnership,   L.P.,  Wyndham  International,   Inc.,  or  Wyndham
International  Operating Partnership,  L.P., or any derivatives thereof; in each
case,  including all rights,  trademarks,  service  marks,  trademark or service
marks registrations, trademark applications, copyrights, copyright registrations
and copyright applications.

     "Tenant's  Personal  Property" shall mean all motor vehicles,  Inventories,
FAS, and any other tangible  personal  property of Tenant,  if any,  acquired by
Tenant (but not leased) at its  election and with its own funds on and after the
date hereof and located at the Leased  Property or used in Tenant's  business at
the Leased Property, working capital, bank account balances,  software and other
miscellaneous supplies and consumables utilized in connection with the operation
of the Leased Property,  and all  modifications,  replacements,  alterations and
additions  to  such  personal  property  installed  at the  expense  of  Tenant,
including, without limitation, Tenant's Intangible Personal Property.

     "Term"  shall mean,  collectively,  the Initial Term and, to the extent not
terminated pursuant to the provisions of Section 2.4, the Extended Terms, unless
sooner terminated pursuant to the provisions of this Agreement.

     "Threshold"  shall, for each Fiscal Quarter for the Leased  Property,  mean
(a) for the  period  commencing  with the  Commencement  Date and  ending on the
Common Tenth Anniversary Date, the sum of $3,420,750.00  representing 1/4 of the
proforma Total Hotel Sales in the first Lease Year of the Term of this Agreement
and the Other  Lease  for the other  Acquisition  Property  (which  sum shall be
appropriately  increased as additional Other Leases are executed by Landlord and
Tenant) (the "Initial Threshold");  and (b) provided Landlord elects to increase
the Initial  Threshold  as provided  hereafter,  for the first Lease Year of the
Term  following the Common Tenth  Anniversary  Date, the Initial  Threshold,  as
increased by that percentage equal to the positive change in the Extension Index
preceding  such Lease Year,  over the Beginning  Index,  and for each Lease Year
thereafter,  the  Threshold  for the  Lease  Year  prior to such  Lease  Year as
increased by that percentage equal to the positive change in the Extension Index
preceding  such Lease Year over the  Extension  Index  preceding  the Lease Year
prior to such Lease Year. The Initial Threshold shall automatically  increase as
provided  above if the  Landlord  notifies  the Tenant prior to the Common Tenth
Anniversary  Date that  Landlord  has  elected to increase  the Minimum  Rent as
referenced  in  subsection  3.1.1(d).  If  Landlord  does not elect to  increase
Minimum Rent as referenced in subsection  3.1.1(d),  Landlord shall be deemed to
have elected not to increase  the Initial  Threshold  as  referenced  herein and
shall be deemed to have elected to use the Initial  Threshold  as the  Threshold
for the Term. Upon determining the adjusted  Threshold for each applicable Lease
Year following the Common Tenth Anniversary  Date,  Landlord shall notify Tenant
of the  amount of the  Threshold  applicable  for each such  Lease  Year and the
amount for each Fiscal  Quarter of such Lease Year.  Provided,  however,  (x) in
determining the increase in the Threshold as contemplated in this paragraph, the
increase  in the Index  over each year  between  the  Commencement  Date and the
Common Tenth  Anniversary Date shall be aggregated,  provided that the Threshold
shall  not be  increased  by more than  three  percent  (3%) for any Lease  Year
between  the  Commencement   Date  and  the  Common  Tenth   Anniversary   Date,
notwithstanding any actual increase in the Index for such

                                       13

<PAGE>

Lease Year in excess of three percent (3%), and (y) the Threshold for each Lease
Year  following  the first Lease Year after the Common  Tenth  Anniversary  Date
shall not increase by more than three  percent (3%) over the  Threshold  for the
prior Lease Year.

     "Total Hotel  Sales" shall mean,  for the  applicable  period of time,  all
gross  revenues  and  receipts  of every kind  derived by or for the  benefit of
Tenant or Manager from operating or causing the operation of the Leased Property
and all parts thereof,  including, but not limited to: income from both cash and
credit transactions (after reasonable  deductions for commissions paid to credit
card  companies for credit  transactions,  bad debts and discounts for prompt or
cash payments and refunds),  rental of rooms, stores, offices,  meeting, exhibit
or sales space of every kind;  license,  lease and concession  fees and rentals,
off premises  catering,  if any, and parking rental income from vending machines
and video  machines,  health club  membership  fees;  food and  beverage  sales;
wholesale and retail sales of merchandise  (other than proceeds from the sale of
furnishings,  fixtures and equipment no longer necessary to the operation of the
Hotel,  which,  except with  respect to  Tenant's  Personal  Property,  shall be
deposited in the Reserve), and service charges, to the extent not distributed to
employees at the Hotel as gratuities;  provided, however, that Total Hotel Sales
shall not include the following:  gratuities to Hotel employees;  federal, state
or municipal excise, sales,  occupancy,  use or similar taxes collected directly
from  patrons or guests or  included  as part of the sales price of any goods or
services; Awards or insurance proceeds; any proceeds from any sale of the Leased
Property or from the refinancing of any debt  encumbering  the Leased  Property;
proceeds from the  disposition of  furnishings,  fixture and equipment no longer
necessary  for the  operation of the Hotel;  interest  which  accrues on working
capital of Tenant and amounts  deposited in the Reserve;  and gross  receipts of
licensees,  lessees and  concessionaires  if other than Tenant or an  Affiliated
Person of Tenant.

     "Total Rooms Revenue"  shall mean,  for the applicable  period of time, all
gross  revenues and receipts of every kind derived by Tenant or Manager from, or
attributable  to or  payable  for,  use or rental of guest  rooms at the  Hotel,
including,  without  limitation  income  from both cash and credit  transactions
(after  reasonable  deductions  for bad debts and  discounts  for prompt or cash
payments and refunds,  rebates and  credits),  but  excluding any sales or other
applicable  taxes  collected by Manager with regard to the rental of guest rooms
for transmittal to the appropriate  taxing authority.  Total Rooms Revenue shall
also include the proceeds from any business interruption insurance applicable to
loss of revenues due to the  non-availability  of guest rooms and for guaranteed
no-show  revenue which is collected.  Total Rooms Revenue shall be accounted for
in accordance with the Uniform System of Accounts.

     "Uniform  System of Accounts"  shall mean A Uniform  System of Accounts for
the Lodging  Industry,  Ninth Revised  Edition,  1996, as published by the Hotel
Association  of New York City,  as the same may be further  revised from time to
time.

     "Unsuitable for Its Permitted Use" shall mean a state or condition of the
Leased  Property such that  following any damage,  destruction  or  condemnation
involving the Leased  Property,  (a) the Leased  Property  cannot be operated as
mutually  determined by Landlord and Tenant on a commercially  practicable basis
for its Permitted  Use, and (b) it cannot  reasonably be expected to be restored
to substantially  the same condition as existed before such damage,  destruction
or condemnation and as is otherwise required by ARTICLE 10 and ARTICLE 11 within
eighteen(18) months following such damage or destruction. If Landlord and Tenant
cannot agree on whether the Leased  Property  can be operated on a  commercially

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<PAGE>

practical  basis for its  Permitted  Use,  or whether  the Leased  Property  can
reasonably  be expected  to be  restored  as  provided  in (b) of the  preceding
sentence, such matter shall be resolved by arbitration pursuant to
ARTICLE 19 hereof.

     "WARN Act" shall mean Worker Adjustment Retraining and Notification Act.

     "Work" shall have the meaning given such term in Section 10.4.

     "Wyndham" shall mean Wyndham International, Inc., a Delaware Corporation.

     "Wyndham Standards" shall mean standards in effect from time to time for
maintenance,  operation and improvement of full service hotels comparable to the
Hotel which utilize the Wyndham name and which offer comparable quality, service
and amenities as the Hotel;  provided such  standards are applicable to at least
ten (10) comparable hotels to which such standards are applicable  utilizing the
Wyndham name (the name and location of at least ten (10) comparable hotels shall
be provided by Wyndham to Landlord  from time to time upon  request of Landlord,
which  request  will not be made more  often  than  yearly)  and are  reasonably
consistent  with then current  prudent  operating  standards  applicable  to the
operation, repair, maintenance, and condition of a full service hotel (including
a hotel of another  brand)  comparable  in class,  quality  and  standing as the
Hotel. Wyndham Standards shall not include standards which constitute an upgrade
of the Hotel or its  quality,  services and  amenities  to a different  class of
hotel (such as, for example,  an upgrade from current Wyndham hotel standards to
those  of  a  Ritz  Carlton  or  Four  Seasons).   The  foregoing  examples  are
illustrations  only of the  types  of  changes  the  magnitude  of  which  would
constitute  an upgrade and are not  necessarily  intended to imply that any such
example defines the Hotel.

                                   ARTICLE 2

                            LEASED PROPERTY AND TERM

     2.1  Leased  Property.  Upon  and  subject  to  the  terms  and  conditions
hereinafter set forth, Landlord hereby leases to Tenant and Tenant hereby leases
from Landlord all of Landlord's  right,  title and interest in and to all of the
following (collectively, the "Leased Property"):

     (a) all  those  certain  tracts,  pieces  and  parcels  of  land,  as  more
         particularly  described in EXHIBIT "B", attached hereto and made a part
         hereof (collectively, the "Land");

     (b) the Hotel,  all buildings,  structures and other  improvements of every
         kind including,  but not limited to, alleyways and connecting  tunnels,
         sidewalks,  utility  pipes,  conduits and lines (on-site and off-site),
         parking areas and roadways appurtenant to such buildings and structures
         presently  or  hereafter  situated  upon  the Land  (collectively,  the
         "Leased Improvements");

                                       15

<PAGE>

     (c) all easements,  rights and  appurtenances relating to the Land and  the
         Leased Improvements;

     (d) all  equipment,  machinery,  fixtures,  and  other  items  of  personal
         property,  now or hereafter permanently affixed to or incorporated into
         the Leased Improvements,  including,  without limitation, all furnaces,
         boilers, heaters,  electrical equipment,  heating, plumbing,  lighting,
         ventilating,  refrigerating,  incineration,  air  and  water  pollution
         control, waste disposal,  air-cooling and air-conditioning  systems and
         apparatus,  sprinkler systems and fire and theft protection  equipment,
         all of which, to the maximum extent permitted by law, are hereby deemed
         by the parties  hereto to  constitute  real estate,  together  with all
         replacements,  modifications,  alterations and additions  thereto,  but
         specifically  excluding  all items  included  within  the  category  of
         Tenant's Personal Property (collectively, the "Fixtures");

     (e) all machinery,  equipment,  furniture,  furnishings,  moveable walls or
         partitions,  computers  or trade  fixtures  and other items of personal
         property   located   on  or  in  the  Leased   Improvements,   and  all
         modifications,   replacements,   alterations   and  additions  to  such
         property,  except  items,  if any,  included  within  the  category  of
         Fixtures,  and  specifically  excluding all items  included  within the
         category of Tenant's Personal Property;

     (f) all of the Leased Intangible Property; and

     (g) any and all subleases of space (including any security deposits held by
         Tenant  pursuant  thereto)  in the Leased  Improvements  to  subtenants
         thereof.

     2.2 Condition of Leased Property.  Tenant  acknowledges and agrees that the
Leased  Property is and shall be leased by Landlord to Tenant and from  Landlord
by Tenant in its  present  "as is"  condition,  subject  to all  faults  and the
existing state of title and all applicable  legal or governmental  requirements,
and Landlord makes absolutely no representations  or warranties  whatsoever with
respect to the Leased  Property or the condition  thereof.  Tenant  acknowledges
that Landlord has not  investigated  and does not warrant or represent to Tenant
that the Leased  Property is fit for the purposes  intended by Tenant or for any
other purpose or purposes  whatsoever,  and Tenant  acknowledges that the Leased
Property is to be leased to Tenant in its existing condition, i.e., "as-is", and
"where-is", without any representation or warranty as to habitability or fitness
for any particular  purpose,  on and as of the Commencement Date. Tenant further
acknowledges that all material permits,  licenses and approvals  required by any
governmental or quasi-governmental, body, department, commission, board, bureau,
instrumentality  or  officer,  or  otherwise  appropriate  with  respect  to the
construction,  operation,  leasing, maintenance or use of the Leased Property or
any part thereof,  have been issued,  are past all appeals periods and are valid
and in full force and effect and that no  provision,  condition or limitation of
any of the same has been breached or violated.  Tenant further acknowledges that
during the Term of this Agreement,  Tenant shall,  except as otherwise expressly
provided in Section 5.1, be solely responsible for any and all actions, repairs,
permits, approvals and costs required for the rehabilitation,  renovation,  use,
occupancy and operation of the Leased  Property in  accordance  with  applicable
governmental   requirements,   foreseen  or   unforeseen,   including,   without
limitation, all

                                       16

<PAGE>

governmental charges and fees, if any, which may be due or payable to applicable
authorities.  In addition, and notwithstanding anything in this Agreement to the
contrary,  Tenant hereby  expressly  acknowledges and agrees to the Post Closing
Due  Diligence  Undertaking  set forth on EXHIBIT "L"  attached  hereto.  Tenant
agrees that, by leasing the Leased Property, Tenant warrants and represents that
Tenant has examined and approved all things concerning the Leased Property which
Tenant  deems  material to  Tenant's  leasing,  operation  and use of the Leased
Property.  Tenant further  acknowledges and agrees that (a) neither Landlord nor
any agent of  Landlord  has made any  representation  or  warranty,  express  or
implied,  concerning the Leased Property or which have induced Tenant to execute
this  Agreement and (b) any other  representations  and warranties are expressly
disclaimed by  Landlord. The provisions  of this Section  2.2 shall not limit or
impair the obligations of Landlord under ARTICLE 5 hereof.

     2.3 Initial Term. The initial term of this  Agreement (the "Initial  Term")
shall commence on the Commencement  Date and shall terminate and expire at 11:59
p.m. on the day preceding the fifteenth  anniversary of the  Commencement  Date,
i.e. May ___, 2015.

     2.4 Extended Term. Provided that no Event of Default shall exist hereunder,
the Term of this Agreement shall be  automatically  extended for a first renewal
term of five (5) years (the "First  Extended  Term")  unless  Tenant  shall give
Landlord  Notice,  in  Tenant's  sole and  absolute  discretion,  not later than
eighteen (18) months prior to the scheduled expiration of the Initial Term, that
Tenant  elects not to so extend the Term of this  Agreement.  Further,  provided
that no Event of  Default  shall  exist,  the  Term of this  Agreement  shall be
automatically  further extended for a second renewal term of five (5) years (the
"Second  Extended  Term")  unless  Tenant  shall give  Landlord  Notice,  in the
Tenant's sole and absolute discretion, not later than eighteen (18) months prior
to the scheduled  expiration of the First Extended Term,  that Tenant elects not
to so further extent the Term of this Agreement. Further, provided that no Event
of  Default  shall  exist,  the Term of this  Agreement  shall be  automatically
further extended for a third renewal term of five (5) years (the "Third Extended
Term")  unless  Tenant shall give  Landlord  Notice,  in the  Tenant's  sole and
absolute discretion,  not later than eighteen (18) months prior to the scheduled
expiration  of the Second  Extended  Term,  that Tenant elects not to so further
extend the Term of this Agreement.  Time shall be of the essence with respect to
the giving of the Notices  contemplated in this Section 2.4. (The First Extended
Term, the Second  Extended  Term,  and the Third Extended Term are  collectively
referred to as the "Extended Terms").

     Each Extended Term shall  commence on the day  succeeding the expiration of
the Initial Term or the preceding  Extended Term, as the case may be. All of the
terms,  covenants  and  provisions  of this  Agreement  shall apply to each such
Extended  Term except that Tenant  shall have no right to extend the Term beyond
the expiration of the Extended Terms. In addition,  notwithstanding  anything in
this  Agreement to the contrary,  the Initial Term hereof and each Extended Term
hereof may only be  extended if the initial  term and each  applicable  extended
term of the Other Leases is also  extended,  it being the express  understanding
and agreement of the Landlord and Tenant that the Term of this Agreement and the
term of each of the Other Leases shall run  concurrently and that if the term of
any of the Other  Leases,  or the Term of this  Agreement is not  extended  then
neither this Agreement nor the Other Leases shall be extended for any applicable
Extended Term.  Otherwise the extension of this Agreement shall be automatically
effected without the execution of any additional documents;  it being understood

                                       17

<PAGE>

and agreed,  however,  that Tenant and Landlord shall execute such documents and
agreements as either party shall reasonably require to evidence the same.

                                   ARTICLE 3

                                      RENT

     3.1 Rent. Tenant shall pay, in lawful money of the United States of America
which shall be legal tender for the payment of public and private debts, without
offset,  abatement,  demand or deduction (unless otherwise expressly provided in
this  Agreement),  Minimum Rent and  Percentage  Rent to Landlord and Additional
Charges to the party to whom such  Additional  Charges are  payable,  during the
Term.  All payments to Landlord  shall be made by wire  transfer of  immediately
available  federal  funds or by other means  acceptable  to Landlord in its sole
discretion.

          3.1.1  Minimum  Rent.  Subject to proration  as set forth  below,  and
subject  to  increase  as set forth  hereinafter  in this  Section  3.1.1 and in
Section 5.1.4 and Section 10.2 hereof,  Tenant shall pay as annual base rent for
the Leased Property  ("Minimum Rent") as follows:  (a) for the first full twelve
Accounting  Periods  during  the Term the  total  sum of ONE  HUNDRED  FIFTY TWO
THOUSAND NINE HUNDRED  FORTY ONE AND 67/100  DOLLARS  ($152,941.67)  (First Year
Minimum Rent)];  (b) for Accounting  Periods  thirteen  through  twenty-four the
total sum of ONE HUNDRED FIFTY SIX THOUSAND  SEVEN HUNDRED SIXTY FIVE AND 21/100
DOLLARS  ($156,765.21)  (Second  Year  Minimum  Rent  )];  (c) for  each  twelve
Accounting  Periods  thereafter  through the Common Tenth  Anniversary Date, the
total sum of ONE HUNDRED  SIXTY  THOUSAND  FIVE HUNDRED  EIGHTY EIGHT AND 75/100
DOLLARS  ($160,588.75) (Third Period Minimum Rent )]. For each Accounting Period
commencing with the Common Tenth Anniversary Date and continuing  throughout the
remainder of the Term,  Minimum Rent shall, at Landlord's  option,  be increased
based upon increases in the Index as hereafter  provided or if Landlord does not
elect to  increase  Minimum  Rent based upon  changes in the Index as  hereafter
provided,  Minimum Rent for the remainder of the Term commencing with the Common
Tenth  Anniversary  Date shall be the rental equal to the Third  Period  Minimum
Rent.  Minimum  Rent will be  allocated  between the real  property and tangible
personal  property and valued in the manner  contemplated in Section 15 with the
initial  allocation  reflected on EXHIBIT "J" attached hereto.

     If  Landlord  elects to  increase  Minimum  Rent based upon  changes in the
Index, Landlord shall notify Tenant at least sixty (60) days prior to the Common
Tenth  Anniversary  Date of such  election  and if  Landlord  fails to so notify
Tenant of such  election  at least  sixty (60) days  prior to the  Common  Tenth
Anniversary  Date Landlord shall have waived its right to increase  Minimum Rent
as herein provided.  In the event Landlord elects to increase Minimum Rent based
upon  changes in the Index and so notifies  Tenant,  Minimum  Rent for the first
Lease Year commencing with the Common Tenth  Anniversary Date shall be increased
based  upon  increases  in  the  Extension  Index  preceding  the  Common  Tenth
Anniversary  Date over the  Beginning  Index.  In  determining  the  increase in
Minimum Rent as  contemplated  in the  preceding  sentence,  the increase in the
Index  over  each  year  between  the  Commencement  Date and the  Common  Tenth
Anniversary Date (computed as herein contemplated) shall be aggregated, provided

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<PAGE>

Minimum  Rent shall not be  increased  by more than three  percent  (3%) for any
Lease Year between the Commencement  Date and the Common Tenth Anniversary Date,
notwithstanding  any actual  increase in the Index for such Lease Year in excess
of three percent (3%).

     Accordingly,  Minimum  Rent for the first  Lease Year  commencing  with the
Common Tenth  Anniversary  Date shall be equal to the Third Period  Minimum Rent
for the Lease Year preceding the Common Tenth  Anniversary  Date multiplied by a
fraction the  numerator of which is the  Extension  Index  preceding  the Common
Tenth  Anniversary Date and the denominator of which is the Beginning Index. For
each Lease Year after the first  Lease  Year  commencing  with the Common  Tenth
Anniversary  Date,  Minimum  Rent shall  increase  based upon  increases  in the
Extension Index preceding each Lease Year over the Extension Index preceding the
previous  Lease Year.  Thus,  for example,  the Minimum Rent for the third Lease
Year following the Common Tenth  Anniversary Date shall be determined based upon
increases  in the  Extension  Index  preceding  such  third  Lease Year over the
Extension  Index  preceding  the second  Lease Year  following  the Common Tenth
Anniversary  Date.  Accordingly,  for each Lease Year  following the first Lease
Year after the Common  Tenth  Anniversary  Date,  Minimum Rent in effect for the
Lease Year  preceding each such Lease Year shall be multiplied by a fraction the
numerator  of which is the  Extension  Index  preceding  such Lease Year and the
denominator  of which is the Extension  Index  preceding the Lease Year prior to
such Lease Year.

     If Landlord  notifies Tenant prior to the Common Tenth  Anniversary Date of
its election to so increase  Minimum  Rent as provided  above,  Percentage  Rent
shall be adjusted  and  determined  based upon  increases  in the  Threshold  as
contemplated in this Agreement. Upon determining the adjusted Minimum Rental for
each such Lease Year,  Landlord  shall  notify  Tenant of the amount of adjusted
Minimum Rent due for such Lease Year.  If such notice is not  provided  prior to
the  commencement of such Lease Year,  Tenant shall pay any increased  amount of
Minimum  Rent due for the  first  month(s)  of such  Lease  Year  with the first
Minimum Rent payment due after receipt of Landlord's notice. Provided,  however,
Minimum Rent shall not be increased by more than three percent (3%) in any Lease
Year following the first Lease Year after the Common Tenth Anniversary Date.

     Tenant shall pay Minimum Rent to Landlord in equal installments in advance,
on the first (1st) Business Day of each Accounting Period. Accordingly,  (a) for
the first full twelve Accounting Periods, First Year Minimum Rent, together with
applicable  sales  and  use and  other  taxes  thereon  (but  not  any  Excluded
Impositions)  shall be due and  payable  to  Landlord  by  Tenant  on the  First
Business Day of each such Accounting  Period; (b) for each of Accounting Periods
thirteen  through  twenty four,  Second Year  Minimum  Rent,  together  with all
applicable sales, use and other taxes thereon (but not any Excluded Impositions)
shall be due and payable by Tenant to Landlord on the first Business Day of each
such Accounting  Period;  (c) for each Accounting Period thereafter  through the
Common Tenth  Anniversary  Date,  Third Period  Minimum Rent,  together with all
applicable sales, use and other taxes thereon (but not any Excluded Impositions)
shall be due and payable by Tenant to Landlord on the first Business Day of each
such Accounting  Period;  and (d) for each Accounting Period thereafter  Minimum
Rent in the amount  determined  by  Landlord  as  aforesaid,  together  with all
applicable sales, use and other taxes thereon (but not any Excluded Impositions)
shall  be due and  payable  by  Tenant  to  Landlord  on the  first  day of each
Accounting  Period.  Provided,  however,  that the first payment of Minimum Rent
shall be payable on the Commencement  Date.  Further,  if applicable,  the first

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<PAGE>

payment of Minimum  Rent and the last  payment of Minimum Rent shall be prorated
on a per diem basis  provided,  however,  that for purposes of Minimum Rent, any
prorated  payment  for any  partial  Accounting  Period  prior to the first full
Accounting  Period shall be prorated based upon the Minimum Rent payable for the
first full twelve  Accounting  Periods and any  prorated  Rent at the end of the
Term shall be prorated  based upon  Minimum  Rent  payable  for each  Accounting
Period after the thirty sixth Accounting Period.

          3.1.2  Percentage  Rent.  In addition to, and not in lieu of,  Minimum
Rent,  Tenant  shall pay to Landlord at the times and in the manner  provided in
Section  3.1.3 a sum  ("Percentage  Rent")  equal  to ten  percent  (10%) of the
aggregate Total Hotel Sales for the  Acquisition  Properties and the Development
Properties in excess of the aggregate  Thresholds for all such  properties.  The
Percentage  Rent payable  hereunder  shall be prorated among the Leased Property
and the leased  properties  contemplated  by the Other Leases based on each such
property's  Total Hotel Sales in excess of the  Threshold  for such  property in
relation  to the  aggregate  Total  Hotel  Sales  in  excess  of  the  aggregate
Thresholds for the Acquisition Properties and Development Properties;  provided,
however,  for the first  Lease Year of the Term hereof or the term of any of the
Other Leases, no Percentage Rent shall be payable.

          3.1.3 Payment of Percentage Rent.  Installments of Percentage Rent for
each Fiscal Year or portion  thereof  shall be  calculated  and paid each Fiscal
Quarter in arrears.  Tenant shall within  thirty (30) days after the end of each
Fiscal  Quarter of the Term hereof  submit to  Landlord  (a) an  unaudited  (but
certified by a duly authorized  officer or managing member of Tenant)  statement
showing a detailed  breakdown of the  calculation  of  Percentage  Rent for that
Fiscal  Quarter  and Fiscal  Year-to-date  on a  cumulative  basis,  and (b) the
applicable  Percentage  Rent  payment  due and  owing  (if any)  for the  Leased
Property  for that Fiscal  Quarter.  Installments  of  Percentage  Rent due with
respect to the Leased  Property  for each Fiscal  Quarter  shall be equal to the
Percentage Rent for the Leased  Property for all Fiscal Quarters  elapsed during
the applicable  Fiscal Year less amount  previously paid with respect thereto by
Tenant.  If the Percentage Rent for such elapsed Fiscal Quarters as shown on the
last quarterly  statement is less than the amount  previously  paid with respect
thereto by Tenant,  the amount of such  difference  shall be offset against Rent
next coming due under this Lease.  Such payment of Percentage Rent shall be paid
by Tenant to Landlord together with and in the same manner as the installment of
Minimum Rent due on such date. Percentage Rent for any partial Fiscal Quarter in
the final Fiscal Year shall be prorated proportionately.  Tenant's obligation to
pay  Percentage  Rent  for  the  Fiscal  Quarter  which  includes  the  date  of
termination of this Agreement shall survive the termination hereof.

     Tenant shall, no later than 90 days following the end of each Fiscal Year
during the Term  hereof  furnish to  Landlord  for such  Fiscal  Year a complete
statement  (the  "Annual  Operations  Statement")  certified  by an  independent
certified  public  accountant  who is  actively  engaged in the  practice of his
profession and who is experienced in hotel  accounting and approved by Landlord,
which approval shall not be unreasonably  withheld or delayed,  (which Statement
shall also be  certified  either by an officer,  partner or  managing  member in
Tenant),  setting forth,  with respect to such Fiscal Year in reasonable  detail
the Total Hotel Sales in respect of such  Fiscal  Year  together  with copies of
statements  from the  Manager  with  respect  to the Leased  Property  as to its
operations  therein  including  without  limitation,  all expenses  incurred and
income  derived by it. If the Annual  Operations  Statement  for any Fiscal Year

                                       20

<PAGE>

indicates that the aggregate of the installment  payments  theretofore made with
respect to such Fiscal Year pursuant to this Section 3.1.3 exceeds the
Percentage Rent due for such Fiscal Year, Landlord shall credit such overpayment
together with interest  thereon  determined as set forth below in this paragraph
against the next  installment  or  installments  of Minimum Rent falling due (or
will pay the amount of such overpayment,  together with such interest, to Tenant
if this  Agreement  shall  have  terminated  other  than by reason  of  Tenant's
default,  or if Landlord so elects to do so). If, on the other hand,  the Annual
Operations  Statement  indicates that the aggregate of the installment  payments
theretofore  made with  respect to such Fiscal Year is less than the  Percentage
Rent due for such Fiscal Year then  Tenant  shall pay the balance or excess,  as
the case may be, together with interest thereon determined as set forth below in
this  paragraph,  to Landlord  concurrently  with the  submission  of the Annual
Operations  Statement.  Interest  shall  accrue  on  payments  pursuant  to this
paragraph  at the  Disbursement  Rate from the date when  first due and  payable
until the date when the adjusted  amount is fully  credited or paid (as the case
may be), in the manner as set forth above.

     Notwithstanding  the  foregoing,  Landlord  at its own  expense,  except as
provided  hereinbelow,  shall  have the right,  exercisable  by Notice to Tenant
given  within  270  days  after  receipt  of the  applicable  Annual  Operations
Statement,  by its accountants or  representatives,  to commence within such 270
day  period  an audit of the  information  set forth in such  Annual  Operations
Statement and, in connection  with such audit,  to examine all of Tenant's books
and records with respect thereto (including supporting data and sales and excise
tax returns);  provided,  however,  if Landlord  reasonably  believes Tenant has
intentionally  misrepresented  Total Hotel  Sales on any such Annual  Operations
Statement,  the said 270 day period shall  commence to run on the date  Landlord
obtains credible  evidence that Tenant has  intentionally  misrepresented  Total
Hotel Sales on any such Annual  Operations  Statement,  which credible  evidence
must be obtained,  if at all, within three (3) calendar years following the date
such Annual Operation  Statement has been furnished by Tenant.  If Landlord does
not  commence  an audit  within  such 270 day  period,  such  Annual  Operations
Statement shall be deemed to be accepted by Landlord as correct.  Landlord shall
use  commercially  reasonable  efforts  to  complete  any such  audit as soon as
practicable.  If such audit  discloses a deficiency in the payment of Percentage
Rent,  Tenant  shall  forthwith  pay to Landlord  the amount of the  deficiency,
together  with  interest  at the  Disbursement  Rate from the date such  payment
should have been made to the date of payment  therefore.  If such  deficiency is
more than three  percent  (3%) of the Total Hotel  Sales  reported by Tenant for
such Fiscal Year, and as a result Landlord did not receive at least  ninety-five
percent (95%) of the  Percentage  Rent payable with respect to such fiscal year,
Tenant shall also pay the costs of such audit and  examination.  Any proprietary
information  obtained  by  Landlord  with  respect  to  Tenant  pursuant  to the
provisions  of this Section or any other  provision of this  Agreement  shall be
treated as confidential,  except that such  information may be used,  subject to
appropriate  confidentiality  safeguards, in any litigation between or involving
the parties and except  further that Landlord may disclose such  information  to
its  prospective  lenders,  provided that Landlord  shall direct such lenders to
maintain  such  information  as  confidential.  The  obligations  of Tenant  and
Landlord  contained  in this Section  shall  survive the  expiration  or earlier
termination of this Agreement.

          3.1.4  Additional  Charges.  In  addition  to  the  Minimum  Rent  and
Percentage Rent payable hereunder,  Tenant shall pay to the appropriate  parties
and discharge as and when due and payable hereunder the following (collectively,
"Additional Charges"):

                                       21

<PAGE>

          (a) Impositions.  Tenant shall pay or cause to be paid all Impositions
     required to be paid pursuant to ARTICLE 8.

          (b) Utility Charges. Tenant shall be liable for and shall promptly pay
     directly to the utility  company  all charges and fees  (together  with any
     applicable  taxes or assessments  thereon) prior to delinquency  for water,
     gas, electricity, air conditioning, heat, septic, sewer, refuse collection,
     telephone and any other utility  charges,  impact fees, or similar items in
     connection with the use or occupancy of the Leased Property. Landlord shall
     not be  responsible  or  liable  in any way  whatsoever  for  the  quality,
     quantity,  impairment,  interruption,  stoppage, or other interference with
     any  utility   service,   including,   without   limitation,   water,   air
     conditioning,  heat, gas, electric current for light and power,  telephone,
     or any other utility service provided to or serving the Leased Property. No
     interruption,  termination  or cessation of utility  services shall relieve
     Tenant of its duties and obligations pursuant to this Agreement, including,
     without  limitation,  its  obligation  to pay all Rent as and when the same
     shall be due hereunder.

          (c)  Insurance  Premiums.  Tenant  shall  pay or  cause to be paid all
     premiums for the insurance  coverage required to be maintained  pursuant to
     ARTICLE 9.

          (d)  Other  Charges.  Tenant  shall  pay or cause to be paid all other
     amounts,  liabilities and obligations arising in connection with the Leased
     Property except those obligations expressly assumed by Landlord pursuant to
     the  provisions  of  this  Agreement  or  expressly  stated  not  to  be an
     obligation of Tenant pursuant to this Agreement.

     3.2 Landlord  Advances.  If Landlord shall make any  expenditure  for which
Tenant is responsible or liable under this Agreement,  or if Tenant shall become
obligated to Landlord  under this  Agreement for any sum other than Minimum Rent
or Percentage Rent as hereinabove provided,  Landlord shall provide no less than
five (5) days  Notice  thereof to Tenant and the amount  thereof  together  with
interest  thereon at the Overdue  Rate from the date  advanced by  Landlord,  if
advanced,  shall be deemed to constitute Additional Charges and shall be due and
payable by Tenant to Landlord, together with all applicable sales or other taxes
thereon (but not any Excluded Impositions), if any, simultaneously with the next
succeeding monthly installment of Minimum Rent after such five (5) day period or
at such  other  time as may be  expressly  provided  in this  Agreement  for the
payment of the same.

     3.3  Sales  Tax.  In  addition  to the Rent and any other  sums or  amounts
required to be paid by Tenant to Landlord  pursuant  to the  provisions  of this
Agreement and subject to any  qualifications and exclusions in the definition of
Impositions, Tenant shall also pay to Landlord, simultaneously with such payment
of such Rent or other sums or amounts,  the amount of any applicable sales, use,
excise or similar or other tax on any such Rent or other sums or amounts so paid
by Tenant to  Landlord,  whether the same be levied,  imposed or assessed by any
federal  entity or by the State in which the Leased  Property  is located or any
other county or municipal  governmental  entity or agency in such State (but not
any Excluded Impositions). Any such sales, use, excise or similar or other taxes
shall be paid by Tenant to Landlord or the  appropriate  Governmental  Agency at
the same time that each of the  amounts  with  respect  to which  such taxes are

                                       22

<PAGE>

payable are paid by Tenant to Landlord.  Landlord shall upon written  request by
Tenant provide to Tenant on an annual basis such reasonable information as shall
be  necessary  to enable  Tenant to pay such  tax.  If Tenant  pays any such tax
directly to an  appropriate  Government  Agency,  Tenant  shall,  upon  request,
promptly provide Landlord appropriate evidence of the same.

     3.4 Payment of Rent. Except as otherwise expressly provided herein, each of
the  foregoing  amounts of Rent and other sums shall be paid without  demand and
without deduction, set-off, claim or counterclaim of any nature whatsoever which
Tenant may have or allege to have against Landlord, and all such payments shall,
upon  receipt  by  Landlord,  be and remain the sole and  absolute  property  of
Landlord.  All such Rent and  other  sums  shall be paid in legal  tender of the
United  States at the address to which notices to Landlord are to be given or to
such other party or to such other address as Landlord may designate from time to
time by written notice to Tenant.  If Landlord shall at any time accept any such
Rent or other sums after the same shall become due and payable,  such acceptance
shall  not  excuse  a delay  upon  subsequent  occasions,  or  constitute  or be
construed as a waiver of any of Landlord's rights here-under.  Nothing contained
in this  Section 3.4,  Section 3.6 or in any other  similar  provisions  of this
Lease shall be deemed to  prohibit  Tenant  from  bringing a separate  action or
compulsory counterclaim against Landlord for Landlord's breach of this Lease.

     3.5 Late Payment of Rent. If Tenant fails to make any payment of Rent on or
before the fifth day after the date such payment is due and  payable,  such past
due payment  shall bear  interest  at the  Overdue  Rate.  Such  interest  shall
constitute  Additional  Charges  and  shall  be due and  payable  with  the next
installment of Rent due hereunder.

     3.6 Net Lease.  Landlord and Tenant acknowledge and agree that both parties
intend that this Agreement shall be and constitute what is generally referred to
in the real estate  industry as a "triple  net" or  "absolute  net" lease,  such
that, except as otherwise expressly provided in this Agreement,  Tenant shall be
obligated  hereunder to pay all costs and expenses incurred with respect to, and
associated  with,  the Leased  Property  and all personal  property  thereon and
therein and the  business  operated  thereon  and  therein,  including,  without
limitation, all taxes and assessments, utility charges, lease payments on leased
personal   property,   insurance  costs,   service  agreement  fees  and  costs,
maintenance costs and repair,  replacement and restoration expenses (all as more
particularly  herein  provided) and all costs and expenses  for,  under and with
respect to the Management Agreement together with any and all other assessments,
charges,  costs and  expenses  of any kind or nature  whatsoever  related to, or
associated  with,  the Leased  Property  and the business  operated  thereon and
therein,  other than  Landlord's  financing  costs and expenses and related debt
service  and  Excluded  Impositions;  provided,  however,  that  Landlord  shall
nonetheless be obligated to pay Landlord's personal income taxes with respect to
the Rents and other amounts received by Landlord under this Agreement. Except as
expressly herein provided, Landlord shall bear no cost or expense of any type or
nature with respect to, or associated with, the Leased  Property.  Except to the
extent otherwise expressly provided in this Agreement, it is agreed and intended
that Rent payable  hereunder by Tenant  shall be paid  without  notice,  demand,
counterclaim,  set-off, deduction or defense and without abatement,  suspension,
deferment,  diminution  or reduction  and that  Tenant's  obligation to pay Rent
throughout  the  Term  and  any   applicable   Extended  Term  is  absolute  and
unconditional  and the obligations and liabilities of Tenant  hereunder shall in
no way be released,  discharged or otherwise affected for any reason,  including

                                       23

<PAGE>

without limitation by: (a) any defect in the condition, merchantability, design,
quality or fitness for use of the Leased  Property or any part  thereof,  or the
failure of the Leased  Property to comply with  Applicable  Laws,  including any
inability to occupy or use the Leased Property by reason of such non-compliance;
(b) any damage to, removal,  abandonment,  salvage, loss,  condemnation,  theft,
scrapping or destruction of or any  requisition or taking of the Leased Property
or any part thereof,  or any  environmental  condition on the Leased Property or
any  property  in the  vicinity  of the Leased  Property;  (c) any  restriction,
prevention or curtailment of or interference with any use of the Leased Property
or any part thereof,  including any lawful eviction;  (d) any defect in title to
or  rights to the  Leased  Property  or any lien on such  title or rights to the
Leased Property; (e) any change, waiver,  extension,  indulgence or other action
or omission or breach in respect of any  obligation  or  liability  of or by any
Person; (f) any bankruptcy, insolvency, reorganization, composition, adjustment,
dissolution,  liquidation  or other like  proceedings  relating to Tenant or any
other  Person  (other than  Landlord)  or any action  taken with respect to this
Agreement by any trustee or receiver of Tenant or any other  Person  (other than
Landlord) or by any court, in any such proceedings;  (g) any right or claim that
Tenant has or might have  against any  Person,  including,  without  limitation,
Landlord  (other  than a  monetary  default),  or any  vendor,  manufacturer  or
contractor  of or for the  Leased  Property;  (h)  any  failure  on the  part of
Landlord or any other  Person to perform or comply with any of the terms of this
Agreement,  or of any other  agreement;  (i) any  invalidity,  unenforceability,
rejection or  disaffirmance  of this  Agreement by operation of law or otherwise
against  or by  Tenant  or  any  provision  hereof;  (j)  the  impossibility  of
performance  by Tenant  or  Landlord,  or both;  (k) any  action  by any  court,
administrative agency or Government Agencies; (l) any interference, interruption
or cessation in the use, possession or quiet enjoyment of the Leased Property or
otherwise;  or (m) any other occurrence whatsoever whether similar or dissimilar
to the  foregoing,  whether  foreseeable  or  unforeseeable,  and whether or not
Tenant  shall  have  notice  or  knowledge  of any of the  foregoing;  provided,
however, that the foregoing shall not apply or be construed to restrict Tenant's
rights  in the  event of any act or  omission  by  Landlord  constituting  gross
negligence  or  willful  misconduct.  Except as  specifically  set forth in this
Agreement,  this  Agreement  shall be  noncancellable  by Tenant  for any reason
whatsoever and except as expressly  provided in this Agreement,  Tenant,  to the
extent now or hereafter  permitted by Applicable Laws,  waives all rights now or
hereafter conferred by statute or otherwise to quit, terminate or surrender this
Agreement  or  to  any  diminution,  abatement  or  reduction  of  Rent  payable
hereunder.  Except  as  specifically  set  forth  in this  Agreement,  under  no
circumstances  or conditions  shall Landlord be expected or required to make any
payment of any kind hereunder or have any  obligations  with respect to the use,
possession,  control, maintenance,  alteration,  rebuilding,  replacing, repair,
restoration or operation of all or any part of the Leased  Property,  so long as
the Leased Property or any part thereof is subject to this Agreement, and except
as specifically  set forth in this Agreement,  Tenant expressly waives the right
to perform any such action at the expense of Landlord pursuant to any law.

     3.7 No Abatement of Rent. Except as otherwise specifically provided in this
Agreement,  no abatement,  diminution or reduction (a) of Rent, charges or other
compensation, or (b) of Tenant's other obligations hereunder shall be allowed to
Tenant or any person claiming under Tenant,  under any  circumstances or for any
reason  whatsoever  and to the maximum  extent  permitted by law,  Tenant hereby
waives the application of any local or state statutes,  land rules,  regulations
or ordinance providing to the contrary.

                                       24

<PAGE>

     3.8 Minimum Rent  Reserve.  In addition to any other  security for Tenant's
performance as may be contemplated  by this Agreement,  Tenant shall establish a
cash  reserve  for  the  Acquisition  Properties  in  the  aggregate  amount  of
$1,000,000.00,  which may be used for  reimbursement  to  Tenant  of any  Amount
Funded  hereunder  and under the Lease for the other  Acquisition  Property  and
except as herein  otherwise  provided,  for no other purpose.  Such cash reserve
shall be placed in an interest  bearing  investment  account selected by Tenant.
Such  account  shall be  maintained  in  Landlord's  name in a bank  selected by
Landlord and approved by Tenant, which approval will not be withheld if the bank
selected  is an FDIC Member and  maintains  at least  Twenty  Million and 00/100
Dollars  ($20,000,000.00) in assets and shall not be under any regulatory orders
from any  federal  or state  banking  authorities.  If during the Term such bank
shall not meet the foregoing criteria the reserve shall be moved to another bank
mutually  agreed to by Landlord  and Tenant.  All  interest  earned on such cash
reserve  shall be the property of Tenant and accrued  interest  shall be paid to
Tenant on a monthly basis. Such required cash reserve shall exist and be used to
reimburse Tenant for any Amount Funded by Tenant hereunder in Rent and except as
herein otherwise provided,  for no other purpose Tenant shall have no obligation
to replenish such cash reserve.

     In lieu of the million  dollar cash  reserve as  aforesaid,  Tenant may, at
Tenant's  option  deliver  to  Landlord  a letter of credit in the amount of One
Million and NO/100 Dollars  ($1,000,000.00) as security for Tenant's performance
hereunder. Such letter of credit shall be irrevocable and transferable, shall be
payable at "sight" issued by a bank selected by Tenant and approved by Landlord,
(which  approval will not be withheld if the bank selected is an FDIC Member and
maintains at least Twenty Million and NO/100 Dollars  ($20,000,000.00) in assets
and shall not be under any  regulatory  orders from any federal or state banking
authorities) and naming  Landlord,  as beneficiary and shall be substantially in
the form of EXHIBIT "K"  attached  hereto.  Such letter of credit shall be for a
term of no  less  than  one  (1)  year  and  shall  state  on its  face  that it
automatically  renews by one (1) year periods,  upon the  respective  expiration
date set forth therein and upon each anniversary of such date thereafter, unless
sixty (60) days prior to such  expiration  date or prior to any  anniversary  of
such date the bank issuing the letter of credit notifies  Landlord in writing by
certified or registered mail or by Federal Express or other expedited  overnight
courier  service  that it elects not to renew the  letter of  credit,  or Tenant
notifies  Landlord that it shall replace such letter of credit with a new letter
of credit  meeting  the  requirements  herein,  in which  event,  so long as the
Acquisition Properties have not achieved the coverage ratio hereafter specified,
Tenant shall,  within forty five (45) days thereafter (but in any event no later
than  fifteen (15) days prior to the  expiration  date of such letter of credit)
deliver to Landlord a new letter of credit effective upon the expiration date of
the  expiring  letter of credit from a bank  mutually  agreed to by Landlord and
Tenant,  and on the same terms of such expiring  letter of credit with a term of
no less than one (1) year; provided, that the amount of the new letter of credit
shall be equal to One Million and NO/100 Dollars  ($1,000,00.00) less any Amount
Funded by Tenant  hereunder for Rent. If Landlord  shall receive notice from the
bank  issuing  such  letter of credit that it intends not to renew the letter of
credit and Tenant fails to deliver a replacement  letter of credit as aforesaid,
then Landlord shall be entitled to immediately  draw upon the expiring letter of
credit.  In the event that the bank which  issues the letter of credit shall not
meet the  foregoing  criteria,  then  Landlord  shall be entitled to draw on the
letter of credit if after ten (10) days  written  notice to Tenant that the bank
does not meet the foregoing criteria, Tenant fails either to replace such letter
of credit with a cash deposit of equal amount or provide a substitute  letter of
credit from a bank mutually agreed to

                                       25

<PAGE>

by Landlord and Tenant.  The term of the letter of credit  shall,  in any event,
not  expire  until  thirty  (30) days  following  the date that the  Acquisition
Properties  achieve the coverage ratio hereafter  specified or the Amount Funded
by Tenant exceeds the amount of the original  letter of credit at which time the
letter of credit shall be returned to Tenant.

     Following  payment of Minimum Rent hereunder by Tenant as required  herein,
Tenant shall on or before the  fifteenth  (15th) day of each  Accounting  Period
deliver or cause to be delivered to Landlord a statement  reflecting  the Amount
Funded, if any, by Tenant for the immediately  preceding Accounting Period. Upon
approval  of such  statement,  Landlord  shall,  if Tenant has  delivered a cash
reserve,  cause a sum of money equal to the Amount Funded by Tenant as reflected
on such statement, to be released from the cash reserve and delivered to Tenant.
If Tenant has  delivered a letter of credit,  there shall be no partial draws on
the letter of credit for any Amount Funded.  Notwithstanding  the foregoing,  in
the  event  that  Minimum  Rent is not paid  when due  hereunder,  Landlord  may
withdraw  from the cash  reserve  the  Minimum  Rent due and owing to  Landlord.
Further,  upon the occurrence of an Event of Default,  Landlord may withdraw the
entire  cash  reserve.  In the  event  that  Minimum  Rent is not paid  when due
hereunder  and Tenant has delivered to Landlord a letter of credit as aforesaid,
Landlord  may make a partial draw on the letter of credit for the amount of such
unpaid  Minimum  Rent,  and the terms of the  letter of credit  shall  expressly
authorize  and provide for such  partial  draw,  provided the amount of any such
draw shall not exceed the face amount of the then existing letter of credit less
all  Amounts  Funded by Tenant  prior to the date such  Minimum  Rent is due and
after the date the current  letter of credit was  delivered.  Further,  upon the
occurrence of an Event of Default, Landlord may draw on the letter of credit and
retain  from the  proceeds  thereof,  the face amount  thereof  less all Amounts
Funded by Tenant prior to the  occurrence  of the Event of Default and after the
date the current  letter of credit was delivered (it being  understood  that all
proceeds of the letter of credit equal to the Amount  Funded by Tenant after the
date the current letter of credit was delivered  shall be promptly  delivered to
Tenant). In addition,  such reserve shall exist and be held by Landlord,  to the
extent of funds therein,  until such time as the aggregate Total Hotel Sales for
the  Acquisition  Properties  during  any  rolling  six (6)  month  period  less
aggregate  Property Expenses for such Acquisition  Properties  incurred and paid
during each such six (6) month  period,  divided by total  Minimum Rent paid for
the  Acquisition  Properties  during  such six (6)  month  period  results  in a
quotient, expressed as a ratio, of 1.05 or greater. At such time, Landlord shall
cause the balance remaining in the cash reserve, if any, plus accrued and unpaid
interest thereon, if any, to be paid to Tenant. For purposes of the Minimum Rent
Reserve,  Property Expenses for the Leased Property shall include the payment of
a  management  fee  equal to three  percent  (3%) of Total  Hotel  Sales and the
funding of the Reserve.

     3.9  Security  Deposit.  As  security  for  the  faithful  performance  and
compliance by Tenant of the terms,  covenants and conditions  hereof on Tenant's
part to be performed and complied  with,  the Tenant shall,  in connection  with
Tenant's  execution  of  this  Agreement,  deposit  with  Landlord  the  sum  of
$917,650.00  (The  "Security  Deposit").  Such  Security  Deposit  shall  not be
considered an advance  payment of rental or a measure of  Landlord's  damages in
case of default  by Tenant and in  Landlord's  sole  discretion,  may be held or
invested  by  Landlord  and any  interest  accruing  thereon  shall  be the sole
property of Landlord.  Such  Security  Deposit may be commingled by Landlord and
held in any  account  of  Landlord.  Landlord  shall  have the  right to use the
Security Deposit as it sees fit, including the right to apply any part or all of

                                       26

<PAGE>

the Security Deposit to cure any default of the Tenant hereunder and if Landlord
does so apply the Security Deposit against a default, Tenant shall, upon demand,
deliver  to and  deposit  with  Landlord  a sum of money  equal to the amount so
applied,  so that Landlord  shall have the full Security  Deposit on hand at all
times  during the Term of this Lease.  Upon the  expiration  of the Term of this
Lease,  provided no Event of Default exists, the Security Deposit or the portion
of such Security Deposit then in Landlord's  possession after application of any
portion thereof to a default  hereunder by Tenant,  shall be returned to Tenant.
The Landlord  shall have the right to apply any part of the Security  Deposit to
cure any default of the Tenant without thereby waiving any of Landlord's  rights
hereunder with respect to a default by Tenant.

     In the event of a sale,  assignment,  lease or  hypothecation of the Leased
Property subject to this Lease to a purchaser or assignee  permitted herein, the
Landlord shall have the right to transfer the Security  Deposit to the purchaser
or  assignee  and if such  permitted  purchaser  or assignee  expressly  assumes
Landlord's  obligations  under this  Agreement,  the Landlord shall thereupon be
released by Tenant from all liability for the return of the Security Deposit and
the Tenant shall look solely to the  purchaser or the assignee for the return of
the Security Deposit,  and it is agreed that this provision shall apply to every
transfer or assignment made of the Security Deposit to every permitted purchaser
or assignee. The Security Deposit shall not be mortgaged,  assigned,  pledged or
encumbered  by the Tenant,  except  Tenant's  rights  thereto may be assigned in
connection with an assignment of Tenant's interest  expressly  permitted in this
Agreement.

     3.10 Additional  Rentals on Conversion Costs  Earn-Outs.  In the event that
pursuant to the terms of paragraph 3e of the Purchase Agreement (which paragraph
3e survived the Closing of the Purchase  Agreement),  a Seller  thereunder earns
and is entitled to Conversion  Cost Earn-Out with respect to the Leased Property
(as  contemplated and defined in the Purchase  Agreement),  at such time as such
Conversion  Cost  Earn-Out  is,  in fact  paid to a Seller  under  the  Purchase
Agreement,  Minimum Rent due hereunder shall concurrently therewith be increased
by an amount  necessary  to provide a per annum  yield on such  Conversion  Cost
Earn-Out so paid with respect to the Leased  Property equal to the  Disbursement
Rate in the same manner as if the Minimum Rent were to be  increased  based upon
funding by Landlord for Major Capital Expenditures  pursuant to Section 5.1.3(c)
hereof.

                                   ARTICLE 4

                USE OF THE LEASED PROPERTY; CONFLICTING BUSINESS

     4.1 Permitted Use.

          4.1.1  Permitted  Use.  Tenant  covenants  and  agrees  that it shall,
throughout the Term of this Agreement,  continuously  use and occupy (subject to
any  condemnation  or casualty) the Leased  Property solely and exclusively as a
hotel for the accommodation of hotel guests, with appropriate  amenities for the
same and for permitted subleases as contemplated in ARTICLE 16 hereof and for no
other purpose without interruption except for minimum necessary interruptions in
respect to  portions of the Leased  Property  for  periods  provided  herein for
repairs, renovations,  replacements and rebuilding all of which shall be carried
out pursuant to, and in accordance with the applicable provisions of this

                                       27

<PAGE>

Agreement,  (the  foregoing  being  referred  to as  the  "Permitted  Use").  In
addition,  except as provided in Section 16.8, without the prior written consent
of the Landlord,  which will not be unreasonably  withheld, no Affiliated Person
of Tenant may be a subtenant or  concessionaire  in the Leased  Property and any
sublease or concession  agreement  with an  Affiliated  Person shall be on "arms
length",  commercially reasonable terms. No use shall be made or permitted to be
made of the Leased  Property and no acts shall be done thereon  which will cause
the  cancellation  of any insurance  policy  covering the Leased Property or any
part thereof  (unless another  adequate  policy is available),  nor shall Tenant
sell or  otherwise  provide  or permit to be kept,  used or sold in or about the
Leased  Property any Article  which may be  prohibited by law or by the standard
form of fire insurance policies,  or any other insurance policies required to be
carried hereunder, or fire underwriter's regulations.  Tenant shall not take, or
subject to Landlord complying with its obligations under ARTICLE 5, omit to take
any action,  the taking or omission of which materially impairs the value or the
usefulness of the Leased Property or any part thereof for its Permitted Use.

          4.1.2 Necessary Approvals. Tenant shall proceed with all due diligence
and  exercise  commercially  reasonable  efforts  to  obtain  and  maintain  all
approvals  necessary  to use and  operate,  for its  Permitted  Use,  the Leased
Property and the Hotel located thereon under  applicable law.  Landlord shall at
no cost or  liability  to  Landlord  reasonably  cooperate  with  Tenant in this
regard, limited to executing all applications and consents required to be signed
by Landlord in order for Tenant to obtain and maintain such approvals.

          4.1.3  Lawful Use,  Etc.  Tenant shall not use or suffer or permit the
use of the Leased  Property  or  Tenant's  Personal  Property,  if any,  for any
unlawful purpose. Tenant shall not commit or, subject to Landlord complying with
its obligations  under ARTICLE 5, suffer to be committed any waste on the Leased
Property,  or in - the Hotel,  nor shall  Tenant  cause or permit  any  unlawful
nuisance  thereon  or  therein.  Tenant  shall not  suffer nor permit the Leased
Property,  or any  portion  thereof,  to be used in such a manner  as (i)  might
reasonably  impair  Landlord's title thereto or to any portion thereof,  or (ii)
might reasonably allow a claim or claims for adverse usage or adverse possession
by the public,  as such, or of implied  dedication of the Leased Property or any
portion thereof.

          4.1.4 Compliance with Legal/Insurance Requirements. Subject to ARTICLE
5 and  Section  8.3  hereof,  Tenant  shall at all  times  at its sole  cost and
expense,  keep and maintain  the Leased  Property in  compliance  with all Legal
Requirements.  Tenant agrees to give Landlord  Notice of any notices,  orders or
other  communications  relating  to  Legal  Requirements  affecting  the  Leased
Property which is or are enacted, passed, promulgated,  made, issued or adopted,
a copy of which is served upon,  or received by,  Tenant,  or a copy of which is
posted on or  fastened  or  attached  to the  Leased  Property,  within ten (10)
business days after service,  receipt,  posting,  fastening or attaching. At the
same time, the Tenant will inform  Landlord as to the work or steps which Tenant
proposes to do or take in order to comply therewith.

     4.2 Environmental Matters.  Restriction on Use, Etc. Except as permitted by
Applicable  Laws,  Tenant  shall at all times  during  the Term keep the  Leased
Property free of Hazardous Substances.  Neither Tenant nor any of its employees,
agents, invitees, licensees,  contractors,  guests, or subtenants (if permitted)
shall use,  generate,  manufacture,  refine,  treat,  process,  produce,  store,
deposit, handle,  transport,  release, or dispose of Hazardous Substances in, on

                                       28

<PAGE>

or about the Leased  Property or the  groundwater  thereof,  in violation of any
federal,  state  or  municipal  law,  decision,   statute,  rule,  ordinance  or
regulation currently in existence or hereafter enacted or rendered.

     Tenant  shall not  discharge  or permit to be  discharged  into any  septic
facility or sanitary  sewer  system  serving  the Leased  Property  any toxic or
hazardous sewage or waste other than that which is permitted by Applicable Laws.
Any Hazardous  Substances which are produced or generated in connection with the
use or  operation  of the Leased  Property  shall be handled and  disposed of as
required by and in compliance with all Applicable  Laws, or shall be pre-treated
to the level of domestic  wastewater  for the type of business  contemplated  by
this  Agreement  prior to discharge  into any septic  facility or sanitary sewer
system serving the Leased Property.

          4.2.2 Discovery of Hazardous Substances, Etc. If, at any time prior to
the  termination  of this  Agreement,  Hazardous  Substances  (other  than those
maintained  in accordance  with  Applicable  Laws) are  discovered on the Leased
Property,  Tenant shall take all actions and incur any and all expenses,  as may
be reasonably necessary and as may be required by any Government  Agencies:  (i)
to treat, contain, remove or otherwise dispose of all Hazardous Substances from,
on and about the Leased Property,  (ii) to prevent any further release or threat
of release of Hazardous  Substances on or about the Leased Property and (iii) to
use good faith efforts to eliminate any further  release or threat of release of
Hazardous Substances on or about the Leased Property. Tenant shall promptly: (a)
upon receipt of notice or knowledge,  notify Landlord in writing of any material
change  in the  nature or extent  of  Hazardous  Substances  at, on or about the
Leased Property,  (b) transmit to Landlord a copy of any Community Right to Know
report  which is  required  to be filed by Tenant  with  respect  to the  Leased
Property  pursuant to SARA Title III or any other  Applicable Laws, (c) transmit
to  Landlord  copies of any  citations,  orders,  notices or other  governmental
communications  received by Tenant or its agents or representatives with respect
to  environmental   matters   (collectively   "Environmental   Notice"),   which
Environmental  Notice  requires  a written  response  or any  action to be taken
and/or if such  Environmental  Notice gives notice of and/or  presents a risk of
any violation of any Applicable Law and/or presents a risk of any material cost,
expense,  loss or damage,  (d)  observe  and  comply  with all  Applicable  Laws
relating to the use,  maintenance  and disposal of Hazardous  Substances and all
orders  or  directives  from  any  official,   court,  or  agency  of  competent
jurisdiction  relating  to the use or  maintenance  or  requiring  the  removal,
treatment,  containment or other disposition  thereof,  and (e) pay or otherwise
dispose of any fine, charge or imposition  related thereto,  unless:  (i) Tenant
shall  contest  the  same  in  good  faith  and by  appropriate  proceedings  in
accordance  with  Applicable Laws and (ii) the right to use and the value of the
Leased  Property is not materially  and adversely  affected  thereby.  Provided,
further,  that in the event  Hazardous  Substances  are discovered on the Leased
Property  and the  presence  thereof is not due to  Tenant's  negligent  acts or
willful  misconduct,  the costs of removal and  remediation  thereof  shall be a
Major Capital Expenditure as contemplated in Section 5.1.3 hereof.

          4.2.3 Indemnity. Tenant shall protect, indemnify and hold harmless the
Landlord, its successors or assigns with respect to this Agreement for, from and
against  any and all debts,  liens,  claims,  causes of  action,  administrative
orders or notices,  costs,  fines,  penalties  or expenses  (including,  without
limitation,  reasonable  attorney's fees and expenses) imposed upon, incurred by
or asserted against Landlord resulting from, either directly or indirectly,  the
presence  or release  during the Term upon or under the soil or ground  water of
the Leased  Property or any properties  surrounding  the Leased  Property of any
Hazardous  Substances  in  violation  of any  Applicable  Laws  due to  Tenant's
negligent acts or willful misconduct.  Landlord agrees to protect, indemnify and
hold harmless the Tenant and its permitted successors or assigns with respect to
this Agreement for, from and against any and all debts, liens, claims, causes of
action,  administrative orders or notices,  costs, fines,  penalties or expenses
(including, without limitation, reasonable attorneys' fees and expenses) imposed
upon, incurred by or asserted against Tenant resulting from the presence upon or
under the soil or ground water of the Leased Property or any properties

                                       29

<PAGE>

surrounding  the Leased  Property of any  Hazardous  Substances  in violation of
Applicable Laws due to the gross  negligence or willful  misconduct of Landlord.
This duty includes, but is not limited to, costs associated with personal injury
or property damage claims as a result of the presence prior to the expiration or
sooner  termination  of the Term and the  surrender  of the Leased  Property  to
Landlord in accordance with the terms of this Agreement of Hazardous  Substances
in, upon or under the soil or ground  water of the Leased  Property in violation
of any Applicable  laws.  Upon Notice from Landlord,  Tenant shall undertake the
defense, at its sole cost and expense,  of its indemnification  duties set forth
herein and upon Notice from Tenant,  Landlord shall undertake the defense at its
sole cost and expense of its indemnification duties set forth herein.

     4.3 Conflicting Businesses Prohibited. Landlord and Tenant hereby recognize
and  acknowledge:  (a) that the Minimum Rent and the Percentage  Rent payable by
Tenant to Landlord  under this  Agreement  have been  established  at the levels
specified  in this  Agreement  upon the  premise and with the  expectation  that
Percentage  Rent will  constitute a material  part of the total rents payable by
Tenant to Landlord under this  Agreement,  (b) that the expectation of receiving
Percentage Rent constitutes a material  consideration for Landlord's willingness
to execute this  Agreement and thereby  lease and demise the Leased  Property to
Tenant,  and (c) that the  operation,  development,  management,  franchising or
ownership by Tenant,  Wyndham or an Affiliated  Person of Tenant or Wyndham,  of
another full service hotel of the same brand contemplated  herein or any Wyndham
Garden Hotel (such hotel being referred to herein as a  "Conflicting  Business")
within the area  designated on EXHIBIT "I" attached hereto and by this reference
made a part hereof (the "Proscribed  Area") will tend to result in a decrease in
the amount of Total Rooms Revenue which would  otherwise  reasonably be expected
to be made upon,  within and from the Leased  Property  and thereby  result in a
reduction of the Percentage  Rent which would  otherwise be payable by Tenant to
Landlord  pursuant  to this  Agreement  in the  absence  of the  operation  of a
Conflicting  Business  by  Tenant  or any such  Affiliated  Person  of Tenant or
Wyndham within the Proscribed Area. Accordingly,  Tenant on behalf of itself and
its  Affiliated  Persons,  and  Wyndham  and  Manager  (who  have  joined in the
execution  of this Lease to  acknowledge  the  restriction  herein),  agree that
subject to any  qualifications in EXHIBIT "I", during the Term of this Agreement
neither Tenant, Wyndham, Manager nor any Affiliated Person of Tenant, Wyndham or
Manager shall open, develop,  operate, manage, franchise, own, lease or have any
other  interest in a Conflicting  Business  within the  Proscribed  Area. In the
event of a breach of this covenant,  Landlord shall have the right to pursue any
remedy at law  available  to Landlord,  including  injunctive  relief.  Further,
Tenant agrees that Tenant's  sole  business  shall be to lease and operate,  and
Tenant  shall not incur any  expenses or  liability  related to any  business or
activity  other than  leasing  and  operating,  the Leased  Property,  the other
Acquisition Property and the Development Properties, and other premises owned or
hereinafter  owned by  Landlord or its  Affiliated  Persons and leased to Tenant
pursuant to terms acceptable to Landlord and Tenant.

                                       30

<PAGE>

     4.4  Continuous  Operations.  Tenant  shall continuously operate the Leased
Property and  maintain  sufficient  skilled  staff and  employees,  and maintain
adequate levels and quality of Tenant's  Personal Property to operate the Leased
Property as herein  required at its sole cost and expense  throughout the entire
Term of this Agreement.

     4.5 Compliance With Restrictions, Etc. Subject to Tenant's right to contest
in accordance with Section 8.3 of this  Agreement, Tenant, at its expense, shall
comply with all restrictive  covenants and other title exceptions  affecting the
Leased  Property  and shall comply with and perform all of the  obligations  set
forth in the same to the  extent  that the  same are  applicable  to the  Leased
Property  or to the  extent  that  the  same  would,  if not  complied  with  or
performed,  impair or prevent the continued use,  occupancy and operation of the
Leased  Property  for the  purposes  set forth in this  Agreement.  Further,  in
addition to Tenant's  payment  obligations  under this Agreement,  Tenant shall,
subject to Section 8.1 hereof,  pay all sums charged,  levied or assessed  under
any restrictive  covenant,  declaration,  reciprocal easement agreement or other
title exceptions,  equipment leases,  leases and all other agreements  affecting
the Leased Property  promptly as the same become due and shall,  upon Landlord's
written request, promptly furnish Landlord evidence of payment thereof, provided
any such charges, levies or assessments may, at the option of Tenant, be paid in
installments  (whether or not interest shall accrue on the unpaid balance of any
such  assessment),  and Tenant may  exercise the option to have the same paid in
installments over the maximum amount of time permitted for installment  payments
thereof.  With respect to any personal property which is leased by Tenant (other
than Tenant's Personal  Property),  Tenant acknowledges and agrees that all such
leases must be approved by Landlord in advance and if entered  into prior to the
Commencement Date hereof,  must be approved by Landlord and expressly assumed by
Tenant.  In  addition,  all  such  leases  shall by  their  terms  be  expressly
subordinate  to this Lease,  shall not have a term which extends beyond the Term
hereof,  and shall  expressly  provide that the Landlord  shall have the option,
upon the  expiration or earlier  termination  of this Lease,  to assume any such
lease or to  terminate  the same or require  the owner of such  leased  personal
property to immediately remove the same from the Leased Property.

     4.6 Standard of Operation. Throughout the Term of  this  Agreement,  Tenant
shall  continuously  operate the Leased Property as a first-class  hotel in full
compliance  with  the  terms  hereof  and of  the  Management  Agreement  and in
conformity  with Wyndham  Standards.  Tenant  shall  endeavor and use good faith
efforts to maximize gross operating profit for the Leased Property. Tenant shall
further  provide,  or cause to be provided,  all group services,  facilities and
benefits  generally  available  to  Wyndham  Hotels of a similar  type  operated
elsewhere  by Wyndham.  Tenant may, at its option and at its  expense,  engage a
manager for the Leased Property,  including the Manager;  provided however, that
any manager,  including  Manager,  and any  management  agreement for the Leased
Property,  including  the  Management  Agreement  shall be subject to Landlord's
prior approval and any management agreement, including the Management Agreement,
shall be  subordinate  to this  Agreement in all respects (and  accordingly  all
management  fees shall be subordinate to rent hereunder) and shall terminate and
expire,  if not  sooner,  upon the  expiration  or earlier  termination  of this
Agreement.  The terms of Section 22.19 are not applicable to Landlord's approval
herein.

     4.7  Survival.  As  to  conditions  which  exist prior to the expiration or
sooner  termination of this Agreement,  the provisions of this Section 4.2 shall
survive the  expiration or sooner  termination of this Agreement for a period of
one (1) year after such expiration or termination and shall thereafter terminate
and be of no further  force and  effect  and no action may be brought  after the
expiration of such one (1) year period under Section 4.2.

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<PAGE>

                                   ARTICLE 5

                             MAINTENANCE AND REPAIRS
                             -----------------------

     5.1 Maintenance and Repair. Tenant's Obligations. Tenant shall, at its sole
cost and expense  (except as expressly  provided in Sections 5.1.2 and 5.1.3 and
except as the same may be limited in the event of any  casualty or  condemnation
as set  forth in  Section  10.2 and  Section  11.2),  keep the  Leased  Property
(including, without limitation, the roof, plumbing systems, electric systems and
HVAC systems) and all private  roadways,  sidewalks and curbs located thereon in
good order and repair, and subject to Landlord's obligations under Section 5.1.3
hereof  (to the  extent  applicable),  shall  promptly  make all  necessary  and
appropriate repairs and replacements  thereto of every kind and nature,  whether
interior or exterior,  structural or  nonstructural,  ordinary or extraordinary,
foreseen or unforeseen or arising by reason of a condition existing prior to the
commencement  of the  Term  and  whether  or not  necessitated  by  wear,  tear,
obsolescence  or  defects,  latent or  otherwise,  and shall use all  reasonable
precautions to prevent waste,  damage or injury.  All repairs shall be made in a
good, workmanlike manner, consistent with the industry standards for like hotels
in like locales, in accordance with all Legal Requirements  relating to any such
work. In addition,  Tenant shall also, at its sole cost and expense,  put, keep,
replace and maintain Tenant's Personal Property in good repair and in good, safe
and substantial  order,  howsoever the necessity or desirability for repairs may
occur, and whether or not  necessitated by wear, tear,  obsolescence or defects.
Tenant shall further at all times  maintain the Leased  Property,  including the
grounds and landscaping, in an aesthetically pleasing manner.

     5.1.2  Reserve.

     (a)  Subject to the terms of this  Section 5.1.2, Tenant shall establish an
     interest  bearing  reserve  account (the "Reserve") in a bank designated by
     Landlord.  The Bank  designated by Landlord  shall have a Minimum of Twenty
     Million  and 00/100  ($20,000,000.00)  in assets and shall not be under any
     regulatory orders from any federal or state banking authorities.  If during
     the Term, such bank shall not meet the foregoing criteria the Reserve shall
     be moved to another bank  mutually  agreed to by Landlord  and Tenant.  All
     interest  earned on the Reserve  shall be added to and remain a part of the
     Reserve.  Both Tenant and  Landlord  shall be  signatories  on the Reserve,
     provided  only one  signature  shall be  required  to  withdraw  funds  and
     Landlord  agrees  that so long as no Event  of  Default  exists  hereunder,
     Landlord shall not be required to sign on any checks and Landlord shall not
     withdraw any funds from such  account.  Such  account  shall not include or
     contemplate  "overdraft protection" and Tenant shall not request or attempt
     to draw or draft  any funds  which  are not  actually  on  deposit  in such
     account.  The purpose of the Reserve is to cover the cost of the following,
     (which costs payable out of the Reserve shall include,  with respect to any
     cost item,  any customary  market-rate  supervisory  fee, and any other fee
     commonly referred to as "purchasing  fees",  charged by Tenant,  Manager or

                                       32
<PAGE>

     any Affiliated Person for services rendered in connection  herewith) to the
     extent  carried  out  in  accordance  with  this  Agreement  (collectively,
     "Reserve Expenditures"):

          (i)  Replacements,  renewals   and   additions   to   the   furniture,
     furnishings,  fixtures  and equipment at the Hotel (but excluding  Tenant's
     Personal Property); and

          (ii) Repairs,    renovations,    renewals,   additions,   alterations,
     improvements or replacements  and   maintenance  to  the  Leased  Property,
     including   without  limitation,   to  maintain   the  Leased  Property  in
     conformity with  Wyndham  Standards,  all of  which are  routine  and which
     are  normally  capitalized  under  GAAP,  such  as  exterior  and  interior
     repainting,   resurfacing   building   walls,  floors,  roofs  and  parking
     areas, and replacing folding walls and the like.

     (b)  Commencing  with  the  Commencement Date and continuing throughout the
     Term, Tenant  shall on the last day of each  Accounting  Period  during the
     Term,  transfer  into  the  Reserve  an  amount  equal  to  the  Applicable
     Percentage for such  Accounting   Period.   At  the  time  Tenant  provides
     Landlord the documentation  described in  Section 3.1.3, Tenant  shall also
     deliver  to Landlord a statement setting forth the total amount of deposits
     made to and expenditures from the Reserve for the preceding Fiscal Year.

     (c)  On or before the  Commencement Date (with respect to the first partial
     Fiscal Year), and December 1 of each Fiscal Year  thereafter,  Tenant shall
     prepare  an  estimate  (the  "Reserve Estimate")  of  Reserve  Expenditures
     anticipated  during the ensuing Fiscal Year and shall  submit  such Reserve
     Estimate to Landlord for its review and  approval.  Such  Reserve  Estimate
     shall  reflect by line item the projected  budget for Reserve  Expenditures
     for the Leased  Property  and  assumptions  on the basis of which such line
     items were  prepared in  narrative  form if  necessary,  and shall  include
     separate  budget items for all  projected  expenditures  for  replacements,
     substitutions   and  additions  to  Tenant's   Personal   Property   (which
     expenditures  shall  be made by  Tenant  using  its own  funds  and not the
     Reserve).  Tenant shall provide to Landlord  reasonable  additional detail,
     information and assumptions used in the preparation of the Reserve Estimate
     as  requested by Landlord.  Tenant shall review the Reserve  Estimate  with
     Landlord, and subject to Landlord's approval,  (which approval shall not be
     withheld for (i) Tenant's Personal Property,  or (ii) Reserve  Expenditures
     required by Legal  Requirements),  (for  purposes  hereof the  expenditures
     contemplated  in subsection  (ii) shall be deemed  included in the Approved
     Reserve Estimate as hereafter referenced and any dispute as to whether such
     expenditure is required by Legal Requirements will be resolved pursuant to
     ARTICLE 19 hereof) Tenant shall implement such Reserve Estimate for the

                                       33
<PAGE>

     successive Fiscal Year (during which it shall, if approved by Landlord,  be
     referred to as the "Approved  Reserve  Estimate").  Landlord shall have the
     right to  disapprove  any  expenditures  to be provided  for in the Reserve
     Estimate in its reasonable discretion, except as otherwise provided herein.
     However,  if Landlord  disapproves any  expenditure,  Landlord shall notify
     Tenant in  reasonable  detail of the reasons for such  disapproval.  If any
     such  expenditure  disapproved  by  Landlord  is,  in  Tenant's  reasonable
     judgment,  necessary to comply with Wyndham Standards,  Tenant shall notify
     Landlord of such fact and Landlord  shall  approve the same or such dispute
     as to whether  such  expenditure  is  reasonably  necessary  to comply with
     Wyndham Standards will be resolved pursuant to ARTICLE 19 hereof.  Further,
     Landlord's  approval of any  expenditure  pursuant to the Reserve  Estimate
     shall  not be,  or be  deemed  to be,  an  assumption  by  Landlord  of any
     liability in connection with the expenditures  made.  Pending resolution by
     Landlord  and  Tenant  (and not by  arbitration,  except  with  respect  to
     expenditures  required  for Legal  Requirements  and Wyndham  Standards  as
     aforesaid) of any dispute  regarding a proposed  Reserve  Expenditure,  the
     specific  disputed  item of the Reserve  Estimate  shall be  suspended  and
     replaced  for the Fiscal Year in question by an amount  equal to the lesser
     of (a) that proposed by Tenant for such Fiscal Year or (b) such budget item
     for the Fiscal Year prior thereto.  Tenant shall not make any  expenditures
     from the Reserve,  except those included in the Approved Reserve  Estimate,
     nor shall Tenant  deviate from the Approved  Reserve  Estimate  without the
     prior approval of Landlord, except in the case of emergency where immediate
     action is  necessary  to prevent  imminent  danger to person or property or
     imminent danger of civil or criminal liability.  Provided,  however, in the
     event the actual cost of any approved Reserve  Expenditure is less than the
     budgeted amount therefor contained in the Approved Reserve Estimate, Tenant
     may apply  such  savings  without  Landlord's  approval  to other  approved
     Reserve Expenditures  contained in the Approved Reserve Estimate so long as
     the aggregate actual Reserve  Expenditures in any given Lease Year does not
     exceed the aggregate Reserve Expenditures contained in the Approved Reserve
     Estimate for such Lease Year. Upon the expiration or earlier termination of
     this Agreement,  funds in the Reserve and all property purchased with funds
     in the  Reserve  shall  be  paid,  granted  and  assigned  to  Landlord  as
     Additional Charges.

     (d)  Tenant shall, consistent with the Approved Reserve Estimate, from time
     to time make Reserve Expenditure from the  Reserve as it  reasonably  deems
     necessary  in  accordance  with  Section  5.1.2(a)  and  (c).  Tenant shall
     provide  to  Landlord,  within  thirty  (30)  days  after  the  end of each
     Accounting Period, an itemized statement setting forth Reserve Expenditures
     made to date  during  the  Fiscal  Year and shall  also  provide  all other
     necessary invoices and supporting  documentation  reasonably  necessary for
     Landlord to account for and verify the Reserve Expenditures.

     (e)  All funds in the Reserve, all interest earned thereon and all property
     purchased  with funds from the Reserve  shall be and remain the property of
     Landlord. Following expiration or earlier termination of this Agreement and
     payment in full on all contracts  entered into prior to such  expiration or
     termination  for work to be done or  furniture,  furnishings,  fixtures and
     equipment  to  be supplied in accordance with this Section 5.1.2 out of the
     Reserve,  control  over the  Reserve  shall be  transferred  from Tenant to
     Landlord.

                                       34
<PAGE>

     (f)  It  is  understood  and  agreed  that  the  Reserve  pursuant  to this
     Agreement shall be maintained and used solely in connection with the Leased
     Property.  To the extent the funds in the Reserve are  permitted  hereunder
     to  be used by Tenant to maintain the Leased Property, Landlord agrees that
     except  upon  the  occurrence  and  during  the  continuance of an Event of
     Default hereunder, Landlord will not  interfere  with the use of such funds
     by Tenant for such purpose.

     (g)  If Landlord wishes to grant a  security  interest in or create another
     encumbrance on the Reserve in connection with  a Hotel Mortgage, all or any
     part of the existing or future funds therein, or  any general intangible in
     connection  therewith,  Tenant  agrees  that  it  will,  from time to time,
     execute such reasonable documentation as may be  requested by  Landlord and
     any  Mortgagee  to  assist  Landlord  and such Mortgagee in establishing or
     perfecting  its  security  interest  in Landlord's interest in the Reserve;
     provided,  however,  that  (i)  no  such  documentation  shall  contain  an
     amendment  or  modification of any of the provisions of this Agreement; and
     (ii) the instrument granting such  security interest or creating such other
     encumbrance  shall  expressly  provide  that  such  security  interest   or
     encumbrance  is subject to the rights of Tenant with respect to the Reserve
     as  set forth herein.  It is understood and agreed that during the Term the
     Reserve may  not be applied against debts secured by a Hotel Mortgage,  nor
     shall any  Mortgagee have  the right to approve  the release of such  funds
     pursuant to the terms of this Agreement unless  and  until  Landlord  shall
     default in its obligations to such Mortgagee  and  then  only in accordance
     with the terms of this Agreement.

     5.1.3  Major Capital Expenditures.

     (a)  On or before  the Commencement Date (with respect to the first partial
     Fiscal  Year) and December 1 of each Fiscal Year  thereafter,  Tenant shall
     deliver to Landlord, for Landlord's approval, a detailed line-item estimate
     (the   "Building   Estimate")  of  the  expenses   necessary  for  repairs,
     alterations,  improvements,  renewals,  replacements and additions,  all of
     which are  non-routine or major, to the Leased  Improvements  which are not
     covered  under  Section  5.1.2(a)  and which are normally capitalized under
     GAAP (which  expenses  shall  include,  with respect to any cost item,  any
     customary market-rate  supervisory fee, and any other fee commonly referred
     to as  "purchasing  fees",  charged  by Tenant,  Manager or any  Affiliated
     Person for  services  rendered  in  connection  herewith)  such as repairs,
     alterations,  improvements,  renewals,  replacements  and  additions to the
     structure,  the  exterior  facade,  the  mechanical,  electrical,  heating,
     ventilating,   air  conditioning,   plumbing  and  vertical  transportation
     elements of the Leased Improvements  ("Major Capital  Expenditures")  which
     Major Capital  Expenditures  Tenant  believes  should be made to the Leased
     Property  for  the  following  Lease  Year,   together  with  estimates  of
     professionals  and other  appropriate  backup.  Major Capital  Expenditures
     shall also include all costs  associated with any removal or remediation of
     Hazardous  Substances  (except  those  treated  at  Tenant's  sole cost and
     expense  under  Section 5.1.4(b) and referenced in Section 4.2).  Except as
     provided in paragraph 5.1.3(b) below, Tenant acknowledges the provisions of
                                       35
<PAGE>

     Section  22.19  shall not be applicable to this Section 5.1.3 and any Major
     Capital  Expenditures  not  approved  by  Landlord  shall  not be made.  In
     addition,  any such approval shall not constitute Landlord's agreement that
     the  repairs,  alterations,   improvements,   renewals,   replacements  and
     additions  giving  rise to a Major  Capital  Expenditure  or the  plans and
     specifications  therefore are or will be in compliance with Applicable Laws
     nor shall such  approval  constitute  the  assumption  by  Landlord  of any
     liability in connection with the said repairs,  alterations,  improvements,
     renewals, replacements and additions contemplated thereby.

     (b)  In  the  event Major Capital Expenditures are required (i) as a result
     of any law,  ordinance,  regulation  or  order  of  any  Government  Agency
     or  are  otherwise required for the continued safe  and  orderly  operation
     of  the  Leased  Property, (ii) due to an emergency threatening the  Leased
     Property, its guests, invitees or employees, (iii) if the  continuation  of
     a  given  condition  will subject Tenant or Landlord to  civil  or criminal
     liability,  Landlord  agrees  that it will not  withhold  its  consent.  If
     Major  Capital  Expenditures are required to comply with Wyndham Standards,
     Landlord agrees it  will not withhold its consent.  Any  dispute  regarding
     whether  Major  Capital  Expenditures (i.e. for which Landlord has withheld
     its consent) are required  under this subparagraph (b)  shall  be  resolved
     pursuant to ARTICLE 19 hereof.

     (c)  The  cost of all approved Major Capital Expenditures shall be borne by
     Landlord  in  accordance  with  the  provisions  of  Section 5.1.4 and upon
     Landlord's funding of the same, Minimum Rent shall be increased as provided
     hereinafter  in this Section 5.1.3(c).  Provided,  however, the cost of all
     approved  Major  Capital  Expenditures  may,  upon  request  of Tenant  and
     approval of Landlord (which will not be unreasonably  withheld),  be funded
     out of the  Reserve,  so long as  such  funding  will  not  materially  and
     adversely  affect  the 3-year  budgeted  Reserve.  Any such  Major  Capital
     Improvement  will have a material  adverse  effect on the  3-year  budgeted
     Reserve if such capital  improvement was not  contemplated  during the Term
     and decreases such 3-year budgeted  Reserve by more than 7.5% of the 3-year
     budgeted Reserve. To the extent Tenant does not request such funding out of
     the Reserve or such funding is not permitted as described  above,  Landlord
     and  Tenant  acknowledge  and  agree  that in the  event  that  funding  is
     necessary for Major Capital  Expenditures  and Landlord is obligated  under
     this Agreement to fund the same,  Landlord shall provide the funds required
     for such expenditures  ("Additional  Capital  Investment") and Minimum Rent
     shall be increased by the amount  necessary to provide a per annum yield on
     the Additional Capital Investment equal to the Disbursement Rate.

                                       36
<PAGE>

     5.1.4 Landlord's Funding Obligations.

     (a)  Landlord  shall  not, under any circumstances, be required to build or
     rebuild  any  improvement  on the  Leased  Property,  to make any  repairs,
     replacements,  alterations,  restorations  or  renewals  of any  nature  or
     description  to the Leased  Property,  whether  ordinary or  extraordinary,
     structural or nonstructural, foreseen or unforeseen, to maintain the Leased
     Property in any way, or, except as provided in Section 5.1.2, Section 5.1.3
     or in any Landlord  indemnity  obligation  provision in this Agreement,  to
     make any expenditure  whatsoever with respect thereto.  Except as otherwise
     expressly provided in this Agreement,  Tenant hereby waives, to the maximum
     extent  permitted  by law,  the right to make  repairs  at the  expense  of
     Landlord  pursuant  to any law in  effect on the date  hereof or  hereafter
     enacted.  Landlord  shall  have the  right to give,  record  and  post,  as
     appropriate,  notices of non-responsibility  under any mechanic's lien laws
     now or hereafter existing.  In addition, in connection with any expenditure
     which  Landlord has agreed to make or as provided in this  Agreement may be
     obligated to make for Major  Capital  Expenditures  or for any other reason
     hereunder,  Landlord may, at its option,  require, prior to the advancement
     of any such funds, (i) approval of plans and specifications by an architect
     reasonably  satisfactory to Landlord,  (ii) general contractors' estimates,
     (iii) architect's certificates,  (iv) unconditional lien waivers of general
     contractors,  (v)  evidence of approval by all  Governmental  Agencies  and
     other regulatory bodies whose approval is required,  (vi) deposit by Tenant
     of any sums which may be  required by Tenant in  connection  with the same,
     and (vii) such other  customary  terms as  Landlord  or any  Mortgagee  may
     reasonably  require.  In  addition,  all funds to be  disbursed by Landlord
     hereunder  shall be  subject  to the  following  additional  conditions  to
     disbursement:  (viii)  funds  shall  specifically  be  requested  by Tenant
     pursuant to written  requisitions and substantiation  therefor on AIA Forms
     G702 and G703 (or on such other forms as may be  reasonably  acceptable  to
     Landlord)  accompanied  by  appropriate  lien  waivers,  receipts and other
     documentation  to support the same;  (ix) funds will be  disbursed  no more
     frequently than monthly;  (x) ten percent (10%) of each approved payment to
     the contractor  shall be retained by Landlord until  completion of the work
     by such  contractor  and  receipt of final  contractor's  affidavits,  lien
     waivers and other  documentation  acceptable  to Landlord and  customary in
     connection with disbursements from lenders to borrowers and (xi) such other
     customary conditions as may be reasonably required by Landlord.

     (b)  If,  at any time,  funds from the Reserve shall be insufficient or are
     reasonably  projected  by  Tenant  to be  insufficient  for  necessary  and
     permitted  expenditures  for Reserve  Expenditures  included in an Approved
     Reserve  Estimate,  or if  funding  is  necessary  for  approved  or deemed
     approved Major Capital  Expenditures (other than costs related to Hazardous
     Substances  under  Section  4.2  resulting from Tenant's negligent acts, or
     willful  misconduct,  which costs shall be Tenant's sole cost and expense),
     Tenant may, at its election,  give Landlord  Notice  thereof,  which Notice

                                       37
<PAGE>

     shall set  forth,  in  reasonable  detail,  the nature of the  required  or
     permitted  action  and the  estimated  cost  thereof.  If  within  ten (10)
     Business  Days after such  Notice,  all  requirements  to  disbursement  as
     referenced  in  Section  5.1.4(a) and Section 6.2 (if applicable) have been
     satisfied,  Landlord  shall  disburse such required funds to Tenant (or, at
     Landlord's  option,  directly to the Manager or any other Person performing
     the required  work) and, upon such  disbursement  by Landlord,  the Minimum
     Rent shall be adjusted as provided in Section 5.1.3(c).

     5.2  Yield Up. Tenant  shall, on or before the last day of the Term or upon
the sooner  termination  thereof,  including  pursuant to Section  16.6  hereof,
peaceably  and quietly  surrender  and deliver to Landlord the Leased  Property,
including,  without  limitation,  all  Leased  Improvements  and  FF&E  and  all
additions  thereto and  replacements  thereof  made from time to time during the
Term, in substantially the same condition in which the Leased Property was in on
the Commencement Date, except as repaired,  rebuilt, restored, altered, or added
to and in accordance with the provisions of this Agreement,  reasonable wear and
tear  excepted  (and except  casualty  damage,  in the event this  Agreement  is
terminated as a result thereof as provided herein, and  condemnation),  and free
and clear of all liens and encumbrances  other than the Permitted  Encumbrances.
In addition,  subject to Section 22.23 hereof, upon Landlord's  request,  Tenant
shall assign to  Landlord,  or cause  Manager to assign to Landlord,  all of the
Tenant's or Manager's right, title and interest in and to all contracts, leases,
permits and other agreements  pertaining to the use,  operation,  maintenance or
repair of the Leased Property other than Tenant's  Intangible  Personal Property
and  contracts  for goods and services  that apply  generally to hotels owned or
managed  by  Wyndham  or its  Affiliates  on a  national  basis  (the  "National
Contracts").

                                   ARTICLE 6

                               IMPROVEMENTS, ETC.
                               ------------------

     6.1 Prohibition. Except  for  Major  Capital  Expenditures  contemplated in
Section  5.1.3,  and a Minor  Alteration as  hereinafter  expressly  provided in
Section  6.2,  and except as may be the  subject of a line item in the  Approved
Reserve Estimate, no portion of the Leased Property shall be demolished, removed
or structurally or materially altered by Tenant in any manner whatsoever without
the prior  written  consent and  approval of  Landlord,  which is not subject to
Section  22.19  and  may be  withheld  by  Landlord  in its  sole  and  absolute
discretion.   Provided,   however,   if  any  proposed   demolition  removal  or
non-structural  alteration  shall be  undertaken by Tenant at Tenant's sole cost
and expense,  Landlord will not  unreasonably  withhold its approval of the same
and in connection therewith Tenant shall comply with the terms of Section 6.2(a)
through (g).  Notwithstanding the foregoing,  however,  Tenant shall be entitled
and obligated to undertake all  alterations to the Leased  Property  required by
any Applicable Laws, including,  without limitation, any alterations required by
any  Accessibility  Laws, and, in such event,  Tenant shall also comply with the
provisions of Section 6.2 below.

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<PAGE>

     6.2  Permitted   Renovations.   Landlord   acknowledges that certain minor,
non-structural  alterations  and  renovations  may be  undertaken  by  Tenant at
Tenant's expense (and not out of the Reserve) from time to time which Tenant may
be  obligated  under the  Management  Agreement  to  perform,  or to comply with
Wyndham  Standards (a "Minor  Alteration").  Landlord  hereby agrees that Tenant
shall be  entitled  to  perform  such  Minor  Alteration  on or about the Leased
Improvements;  provided,  however,  that the cost of the same  shall not  exceed
$5,000.00  and the same shall not weaken or impair the  structural  strength  or
integrity of the Leased Improvements,  nor, materially alter the exterior design
or  appearance or the interior  design or  appearance  of the lobby,  materially
impair the use of any of the service  facilities  located  in, or  fundamentally
affect the  character  or  suitability  of, the  Leased  Improvements  for hotel
purposes or materially lessen or impair their value, and provided further,  that
in connection with any such permitted renovation, the following conditions shall
be met, to wit:

     (a)  Before  the  commencement  of  any such work, plans and specifications
     therefor or a detailed itemization thereof prepared by a licensed architect
     approved  by  Landlord  or other design professional, of Tenant or Wyndham,
     appropriate under  the  circumstances  and  approved by Landlord and Tenant
     shall be furnished to Landlord for its review and approval, which  approval
     will  not  be  unreasonably  withheld  or  delayed. Such approval shall not
     constitute Landlord's  agreement  that  the  plans and specification are in
     compliance  with  Applicable   Laws  or  an  assumption  by Landlord of any
     liability in connection  with the renovation  work contemplated thereby.

     (b)  Before  the  commencement of any Minor Alteration, (or any work funded
     by  Reserve  Expenditures,  or  Major  Capital Expenditures),  Tenant shall
     obtain   the   approval  thereof  by all  Governmental  Agencies  having or
     claiming jurisdiction  of or over the Leased  Property, and with any public
     utility companies  having  an  interest  therein.  In  connection with  any
     Minor  Alteration  (or  any  work funded by Reserve  Expenditures  or Major
     Capital Expenditures), Tenant  shall comply  with  all  Legal  Requirements
     and  Applicable  Laws,  of  all  other   Governmental  Agencies  having  or
     claiming  jurisdiction  of  or over the Leased  Property  and of all  their
     respective departments,   bureaus  and  offices,  and with the requirements
     and regulations,   if  any,  of  such  public   utilities, or the insurance
     underwriting  board or  insurance  inspection  bureau  having  or  claiming
     jurisdiction,  or any other body exercising similar  functions,  and of all
     insurance  companies then writing policies  covering the Leased Property or
     any part thereof.

     (c)  Each Minor Alteration (and all work funded by Reserve Expenditures and
     Major  Capital  Expenditures)  will be performed in a good and  workmanlike
     manner  and in  accordance  with  the  plans  and  specifications  therefor
     approved  by  Landlord,  the  terms,  provisions  and  conditions  of  this
     Agreement and all Applicable Laws.

     (d)  Landlord shall have the right to inspect any Minor Alteration (and all
     work funded  by Reserve Expenditures and Major Capital Expenditures) at all
     times during normal working hours and to maintain at the Leased Property
     for that

                                       39
<PAGE>

     purpose (at its own expense) such  inspector(s) as it may deem necessary so
     long as such inspections do not unreasonably interfere  with Tenant's  work
     (but Landlord shall not thereby assume any  responsibility  for the  proper
     performance of the work in accordance with the terms of this Agreement, nor
     any liability arising from the improper performance thereof).

     (e)  Each   such  Minor  Alteration  (and  all  work  funded   by   Reserve
     Expenditures  and Major  Capital  Expenditures)  shall  be  performed  free
     of any  liens  on Landlord's fee simple interest in, or Tenant's  leasehold
     interest  in,  the  Leased  Property,  except  for  liens  resulting   from
     Landlord's failure to fund a Major Capital Expenditure.

     (f)  Upon  substantial  completion  of  any  Minor Alteration (and all work
     funded  by  Reserve  Expenditures  and  Major Capital Expenditures), Tenant
     shall procure a  certificate   of  occupancy,   if  applicable,   from  the
     appropriate governmental authorities or otherwise verifying the substantial
     completion thereof.

     (g)  No  Minor  Alteration  or  other alteration approved under Section 6.1
     hereof shall be made  which  would tie in or  connect  any  portion  of the
     Leased Improvements with any other improvements on property adjacent to the
     Leased Property,  except as may be  required by the Permitted Encumbrances.
     In  addition,  Tenant  shall  not  finance  and shall direct Manager not to
     finance the cost of any  Minor Alteration  or other alteration contemplated
     and  approved  under  Section  6.1  hereof  by the granting of a lien on or
     security  interest  in  the Leased  Property or Tenant's  interest  therein
     without  the  prior  written  consent of  Landlord,  which  consent  may be
     withheld  by Landlord in Landlord's sole discretion.

     (h)  Tenant  shall,  and  hereby  agrees  to, indemnify  and  save and hold
     Landlord and each  Affiliated Person of Landlord harmless from and  against
     and  reimburse  Landlord for any and all loss, damage, cost, liability, fee
     and  expense  (including,  without limitation,  reasonable  attorney's fees
     based  upon   services  rendered  at hourly rates)  incurred by or asserted
     against Landlord which is occasioned by or results, directly or indirectly,
     from  any  construction   or   renovation  activities  conducted  upon  the
     Leased Property,  whether  or not the same is caused by, or is the fault of
     Tenant  or  any   agent,   employee,   Manager,  contractor, subcontractor,
     laborer, supplier, materialman  or any other third  party; but Tenant shall
     not  be  obligated   to  indemnify  Landlord  from  any  loss as  aforesaid
     caused  by  Landlord's  gross  negligence or willful  misconduct or failure
     to  fund  any  Reserve  Expenditure  included  within  an  Approved Reserve
     Estimate or any Major Capital Expenditure as required in this Agreement.

                                       40
<PAGE>

     6.3  Additions,  Expansions and Structural Alterations. Except as expressly
permitted in this Agreement,  Tenant shall not construct and erect any additions
to or expansions of the Leased  Improvements,  or perform any  alterations  of a
structural  nature  whatsoever;  it being  understood that Tenant may do so only
with the prior  written  consent and  approval of  Landlord,  which  consent and
approval may be withheld by Landlord in its sole and absolute discretion and may
be conditioned  upon the payment by Tenant to Landlord of all  reasonable  third
party costs incurred by Landlord in evaluating the same.

     6.4 Salvage. Other than Tenant's Personal Property, all materials which are
scrapped  or removed in  connection  with the  making of  repairs,  alterations,
improvements,  renewals,  replacements and additions pursuant to ARTICLE 5 shall
be  disposed  of by  Tenant  and the net  proceeds  thereof,  if any,  shall  be
deposited in the Reserve.

                                   ARTICLE 7

                    LANDLORD'S INTEREST NOT SUBJECT TO LIENS
                    ----------------------------------------

     7.1 Liens, Generally. Tenant shall not, directly or indirectly,  create  or
cause to be  imposed,  claimed or filed upon the Leased  Property,  or  Tenant's
assets,  properties  or income or any portion  thereof,  or upon the interest of
Landlord therein, any Lien of any nature whatsoever,  except liens on the Leased
Property  caused by  Landlord's  funding  default under  Section  5.1.4(b).  If,
because  of any act or  omission  of  Tenant,  any such Lien  shall be  imposed,
claimed or filed by any party whosoever or whatsoever, Tenant shall, at its sole
cost and  expense,  cause the same to be  promptly  (and in no event  later than
thirty (30) days following receipt of notice of such Lien) paid and satisfied in
full or otherwise  promptly  discharged of record (by bonding or otherwise)  and
Tenant shall indemnify and save and hold Landlord  harmless from and against any
and all costs, liabilities, suits, penalties, claims and demands whatsoever, and
from and against any and all reasonable  attorney's  fees, at both trial and all
appellate  levels,  resulting or on account thereof and therefrom.  In the event
that Tenant shall fail to comply with the  foregoing  provisions of this Section
7, Landlord shall have the option, but not the obligation, of paying, satisfying
or otherwise  discharging  (by bonding or otherwise) such Lien and Tenant agrees
to reimburse Landlord,  upon demand and as Additional  Charges,  for all sums so
paid  and  for all  costs  and  expenses  incurred  by  Landlord  in  connection
therewith, together with interest thereon, until paid.

     7.2  Mechanics Liens.  Landlord's interest in the Leased Property shall not
be  subjected  to  Liens of any  nature  by  reason  of  Tenant's  construction,
alteration,  renovation,  repair, restoration,  replacement or reconstruction of
any improvements on or in the Leased Property,  or by reason of any other act or
omission  of Tenant  (or of any person  claiming  by,  through or under  Tenant)
including,  but not limited to, mechanics' and materialmen's liens, except liens
on the Leased  Property  caused by  Landlord's  funding  default  under  Section
5.1.4(b).  All persons dealing with Tenant are hereby placed on notice that such
persons shall not look to Landlord or to Landlord's  credit or assets (including
Landlord's interest in the Leased Property) for payment or satisfaction of any

                                       41
<PAGE>

obligations   incurred  in  connection   with  the   construction,   alteration,
renovation, repair, restoration,  replacement or reconstruction thereof by or on
behalf of Tenant.  Tenant has no power, right or authority to subject Landlord's
interest in the Leased Property to any mechanic's or materialmen's lien or claim
of lien. If a Lien,  claim of lien or an order for the payment of money shall be
imposed against the Leased Property on account of work performed,  or alleged to
have been performed,  for or on behalf of Tenant or any party claiming by, under
or through Tenant, Tenant shall, within thirty (30) days after written notice of
the  imposition of such Lien,  claim or order,  cause the Leased  Property to be
released  therefrom  by the  payment  of the  obligation  secured  thereby or by
furnishing  a bond or by any other method  prescribed  or permitted by law. If a
Lien is  released,  Tenant  shall  thereupon  furnish  Landlord  with a  written
instrument of release in form for recording or filing in the appropriate  office
of land  records of the  County in which the Leased  Property  is  located,  and
otherwise sufficient to establish the release as a matter of record.

     7.3  Contest  of  Mechanics  Liens. Tenant may, at its option,  contest the
validity  of any  Mechanics  Lien or claim of lien if Tenant  shall  have  first
posted an appropriate  and sufficient  bond in favor of the claimant or paid the
appropriate  sum into  court,  if  permitted  by and in strict  compliance  with
Applicable  Laws, and thereby  obtained the release of the Leased  Property from
such  Mechanics  Lien or claim of lien.  If judgment is obtained by the claimant
under any Mechanics Lien or claim of lien, Tenant shall pay the same immediately
after such  judgment  shall have become final and the time for appeal  therefrom
has expired without appeal having been taken.  Tenant shall, at its own expense,
using counsel reasonably  approved by Landlord,  diligently defend the interests
of Tenant  and  Landlord  in any and all such  suits;  provided,  however,  that
Landlord may, nonetheless,  at its election and expense,  engage its own counsel
and assert its own defenses, in which event Tenant shall cooperate with Landlord
and make  available to Landlord all  information  and data which  Landlord deems
necessary or desirable for such defense.

     7.4  Notices  of  Commencement  of Construction. If required by the laws of
the State,  prior to  commencement  by Tenant of any work on the Leased Property
which shall have been previously  permitted and approved by Landlord as provided
in this Agreement,  Tenant shall record or file a notice of the  commencement of
such  work or  similar  notice  required  by  Applicable  Laws (the  "Notice  of
Commencement")  in the land  records of the County in which the Leased  Property
are  located,  identifying  Tenant  as the  party  for whom  such  work is being
performed,  stating such other matters as may be required by Applicable Laws and
requiring  the  service of copies of all  notices,  Liens or claims of lien upon
Landlord.  Any such  Notice  of  Commencement  shall  clearly  reflect  that the
interest  of Tenant in the Leased  Property  is that of a  leasehold  estate and
shall also clearly reflect that the interest of Landlord as the fee simple owner
of the Leased Property shall not be subject to mechanics or materialmen's  liens
on account of the work which is the  subject of such Notice of  Commencement.  A
copy of any such Notice of  Commencement  shall be  furnished to and approved by
Landlord prior to the recording or filing thereof, as aforesaid.

                                   ARTICLE 8

                              TAXES AND ASSESSMENTS
                              ---------------------

     8.1 Obligation to Pay Taxes. Throughout the entire Term, Tenant shall bear,
pay and discharge as Additional Charges and not later than the last day on which

                                       42
<PAGE>

payment may be made without penalty or interest,  all Impositions,  and each and
every installment  thereof which shall or may during the Term hereof be charged,
laid, levied,  assessed,  or imposed upon, or arise in connection with, the use,
occupancy  or  possession  of the  Leased  Property  or any part  thereof.  Upon
payment,  Tenant shall promptly furnish to Landlord  official  receipts or other
satisfactory proof evidencing such payment.  Further, with respect to the Fiscal
Year in which  the  Term  commences,  and any tax  period  or year  prior to the
Commencement  Date (if different than a Fiscal Year),  Tenant shall be obligated
to pay or cause to be paid, and shall pay or cause to be paid,  all  Impositions
for  such  entire  Fiscal  Year (or tax  year)  notwithstanding  the  date  this
Agreement commences.  If any refund (including  penalties,  interest and charges
paid by  Tenant)  shall be due from  any  taxing  authority  in  respect  of any
Impositions  paid by Tenant  (including  as a result of a  permitted  contest by
Tenant), the same shall be paid to and retained by Tenant.

     Notwithstanding  the  foregoing,  Tenant shall have the right,  after prior
written  notice to  Landlord,  to  contest  at its own  expense  the  amount and
validity of any  Impositions by appropriate  proceedings  under  Applicable Laws
conducted in good faith and with due  diligence and to postpone or defer payment
thereof,  provided and so long as:

     (a)  Such proceedings shall operate to suspend the collection of such
     Imposition from Tenant or the Leased Property;

     (b)  Neither the Leased Property nor any part thereof would be in immediate
     danger  of  being  forfeited  or  lost  by  reason  of  such   proceedings,
     postponement or deferment; and

     (c)  In  the  case  of  any  Imposition affecting the Leased Property which
     might  be  or  become  a  Lien, encumbrance or charge upon or result in any
     forfeiture  or  loss of  the Leased Property or any  part thereof, or which
     might  result in loss  or  damage  to  Tenant  or  Landlord, Tenant,  prior
     to the date such Imposition  would  become delinquent, shall have furnished
     Landlord with security   satisfactory   to  Landlord,  which security shall
     be  deemed satisfactory  if Tenant  provides  a  bond in the amount of such
     contested amount,  plus  applicable  costs,  interest  and  other  charges,
     or a cash deposit in the amount of  such  contested  amount plus applicable
     costs, interest  and  other charges, in a bank,  as  trustee,  and  account
     designated  by  Landlord and, in the event that such security is furnished,
     Landlord shall  not have the right during the period of the contest to pay,
     remove or discharge the Imposition.

                                       43
<PAGE>

     8.2 Tax  Account.  In  the  event Tenant fails to timely pay any Imposition
required to be paid by Tenant  pursuant  to Section  8.1,  subject to  permitted
contest as set forth  above,  after  Notice and  failure to cure within ten (10)
days after delivery of such Notice,  Landlord  shall have the right,  by written
notice to Tenant  effective as of the date of such notice,  to require Tenant to
pay or cause to be paid  into a  separate  account  (the  "Tax  Account")  to be
established by Tenant with a lending  institution  selected by Landlord which is
an FDIC  Member  and  maintains  at least  Twenty  Million  and  00/100  Dollars
($20,000,000.00) in assets and shall not be under any regulatory orders from any
federal or state  banking  authorities  (which Tax Account  shall not be removed
from such lending  institution  without the express prior approval of Landlord),
and which Landlord may draw upon, a reserve  amount  sufficient to discharge the
obligations of Tenant under Section 8.1 hereof with respect to  Impositions  for
the  applicable  Fiscal  Year as and when they  become due and any  interest  or
penalties due to late or non-payment  as provided below (such amounts,  the "Tax
Escrow Amount"). If during the Term the lending institution selected by Landlord
shall not meet the foregoing criteria, the Tax Account shall be moved to another
lending  institution  mutually  agreed  to by  Landlord  and  Tenant.  Provided,
however,  that  Landlord  shall  provide  to  Tenant  Notice of  non-payment  as
contemplated  in the initial clause of this Section 8.2 only one time during the
Term  hereof  and in the  event of any  subsequent  failure  to  timely  pay any
Imposition  required  to be paid by Tenant  pursuant  to Section  8.1,  the only
Notice  from  Landlord to Tenant  shall be the Notice to pay the reserve  amount
into the Tax Account the sums referenced in the immediately  preceding sentence.
If Tenant does not  establish,  and pay into the Tax Account as required  herein
within ten (10) days from the date of Landlord's  notice,  Tenant  shall,  be in
default  hereunder.  Within ten (10) days after  receipt of  Landlord's  notice,
Tenant shall  deposit into the Tax Account an amount equal to the product of (i)
one twelfth of the Tax Escrow Amount times (ii) the number of months,  including
the current month,  that have elapsed in the tax period(s) for the  Impositions.
During each month  commencing  with the first full calendar month  following the
receipt of said notice from Landlord,  Tenant shall deposit into the Tax Account
one twelfth of the Tax Escrow Amount so that as each  installment of Impositions
becomes due and payable,  there are  sufficient  funds in the Tax Account to pay
the  same.  If the  amount  of  such  Impositions  have  not  been  definitively
ascertained  by Tenant at the time when any such monthly  deposit is to be paid,
Landlord shall require payment of the Tax Escrow Amount based upon the amount of
Impositions  paid for the preceding year,  subject to adjustment as and when the
amount of such  Impositions are ascertained by Tenant.  The Tax Escrow Amount in
the Tax Account shall be and constitute  additional security for the performance
of Tenant's  obligations  hereunder and shall be subject to Landlord's  security
interest  therein  and shall to the  extent of funds in  escrow,  be used to pay
Impositions  when due and Tenant  shall fund any  deficiency  in the Tax Account
upon Notice from Landlord.  Landlord and Tenant shall execute such documentation
as may be necessary to create and maintain  Landlord's  security interest in the
Tax  Account.  Tenant's  funding of the Tax Account as required  herein shall be
deemed satisfaction of Tenant's obligation to pay the Impositions subject to the
Tax Account pursuant to Section 8.1 hereof.

                                       44
<PAGE>

     8.3 Permitted  Contests. In addition to Tenant's right to contest mechanics
liens as contemplated in Section 7.3, Tenant shall have the right to contest the
amount or validity of any Imposition, Legal Requirement,  Insurance Requirement,
Environmental  Notices,  Lien, attachment,  levy,  encumbrance,  charge or claim
(collectively,  "Claims") as to the Leased Property, pursuant to Applicable Laws
by  appropriate  legal  proceedings,  conducted  in  good  faith  and  with  due
diligence,  provided  that (a) the  foregoing  shall in no way be  construed  as
relieving,  modifying  or  extending  Tenant's  obligation  to pay any Claims as
finally determined, (b) such contest shall not cause Landlord or Tenant to be in
default under any Hotel Mortgage (Landlord agreeing that any such Hotel Mortgage
shall permit Tenant to exercise the rights  granted  pursuant to this ARTICLE 8)
or result in or  reasonably  be  expected to result in a lien  attaching  to the
Leased Property, unless such lien is fully bonded or is otherwise secured to the
reasonable  satisfaction of Landlord, (c) no part of the Leased Property nor any
Rent therefrom shall be in any immediate danger of sale, forfeiture,  attachment
or loss,  and (d) Tenant shall  indemnify  and hold  harmless  Landlord from and
against  any cost,  claim,  damage,  penalty or  reasonable  expense,  including
reasonable attorneys' fees, incurred by Landlord in connection therewith or as a
result  thereof.  Landlord  agrees to join in any such  proceedings  if required
legally to prosecute  such contest,  provided that Landlord shall not thereby be
subjected to any liability  therefor  (including,  without  limitation,  for the
payment of any costs or expenses in connection  therewith)  unless Tenant agrees
by agreement  in form and  substance  reasonably  satisfactory  to Landlord,  to
assume and indemnify Landlord with respect to the same. Tenant shall be entitled
to any refund of any Claims and such charges and  penalties or interest  thereon
which have been paid by Tenant or paid by Landlord  to the extent that  Landlord
has been fully reimbursed by Tenant. If Tenant shall fail (x) to pay or cause to
be paid any Claims when finally  determined,  (y) to provide reasonable security
therefor,  or (z) to  prosecute  or cause  to be  prosecuted  any  such  contest
diligently  and in good faith,  Landlord may, upon  reasonable  Notice to Tenant
(which notice shall not be required if Landlord shall reasonably  determine that
the same is not  practicable),  pay such  charges,  together  with  interest and
penalties  due  with  respect  thereto,  and  Tenant  shall  reimburse  Landlord
therefor,  upon demand,  the full amount  thereof,  plus interest at the Overdue
Rate, as Additional Rent.

                                    ARTICLE 9

                                    INSURANCE
                                    ---------
     9.1 General Insurance  Requirements.  Tenant shall, at all times during the
Term and at any other time Tenant shall be in possession of the Leased Property,
comply with all  Insurance  Requirements  and keep the Leased  Property  and all
property  located  therein  or  thereon,  insured  against  the risks and in the
amounts as follows:

     (a)  "All-risk" property insurance (and to the extent applicable, Builder's
     Risk  Insurance)  on  the  Improvements  and all items of business personal
     property, including but not limited to signs, awnings,  canopies,  gazebos,
     fences  and  retaining walls, and all FAS,  including  without  limitation,
     insurance against loss or damage from the perils under "All Risk" (Special)

                                       45
<PAGE>

     form,  including  but  not  limited  to  the  following:  fire,  windstorm,
     sprinkler  leakage,  vandalism  and   malicious  mischief,  water   damage,
     explosion of steam  boilers,  pressure vessels and other similar apparatus,
     and  other  hazards  generally  included under extended coverage, all in an
     amount equal  to one hundred percent (100%) of the  replacement   value  of
     the Leased Property (excluding excavation and foundation  costs),  business
     personal property and FAS,  without a  co-insurance  provision,  and  shall
     include  an Agreed Value endorsement and a Law and Ordinance endorsement;

     (b)  Ordinance  or  Law  Coverage  with  limits of not less than the Leased
     Property  for  Coverage  A (Loss to the undamaged portion of the building),
     limits not less than $500,000.00 for Coverage B (Demolition Cost Coverage),
     and  limits  not less than  $500,000.00  for Coverage C (Increased  Cost of
     Construction Coverage);

     (c)  Business  income  insurance  to  be  written  on  Special Form (and on
     Earthquake  and  Flood  forms if such insurance for those risks is required
     and  available  through  commercial  insurance  markets)  including   Extra
     Expense,  without  a  provision  for  co-insurance,  including  an   amount
     sufficient  to  pay  at least twelve (12) months of Rent for the benefit of
     Landlord,  as  its interest may appear,  and at least twelve (12) months of
     net operating  income less Rent for the benefit of Tenant:

     (d)  Occurrence form  comprehensive  general liability insurance, including
     bodily injury  and property damage, liquor liability, fire legal liability,
     contractual  liability and  independent  contractor's  hazard and completed
     operations   coverage  in  an  amount  not  less  than   $1,000,000.00  per
     occurrence/$2,000,000.00 aggregate;

     (e)  Umbrella  coverage  which shall be on a following form for the General
     Liability,   Automobile  Liability,   Employers'   Liability,   and  Liquor
     Liability,    with   limits   of   not   less   than   $50,000,000.00   per
     occurrence/aggregate;

     f)  Flood  insurance  in  an amount and in such form and substance and with
     such  limits  and  deductibles  as  are  satisfactory  to  Landlord (if any
     improvements located on the Leased Property are located in whole or in part
     within an area identified as an area having special flood hazards under the
     National Flood Insurance Program);

     (g)  Worker's  compensation  coverage for all persons employed by Tenant on
     the  Leased  Property  with  statutory  limits,  and  Employers'  Liability
     insurance in an amount of at least $1,000,000.00 per accident/disease;

     (h)  To the extent applicable, business auto liability insurance, including
     owned,  non-owned  and hired  vehicles for combined  single limit of bodily
     injury and property damage of not less than $1,000,000.00 per occurrence;

                                       46
<PAGE>

     (i)  To  the  extent  applicable,  garage keepers legal liability insurance
     covering  both  comprehensive  and  collision-type  losses with  a limit of
     liability in an amount not less than $1,000,000.00 per occurrence; and

     (j)  Earthquake  insurance,  if the Leased Property is currently, or at any
     time  in  the future, located within a Major or Limited (Minor to Moderate)
     Damage Earthquake   Disaster  Area, as defined by Landlord's Insurer and/or
     Mortgagee,  in amount,  and in such form and substance and with such limits
     and deductibles as are satisfactory to Landlord.

     (k)  Such  additional insurance as may be reasonably required, from time to
     time,  by  any  of  the  Permitted Encumbrances, or by Landlord (including,
     without limitation,  insurance  requirements  in  the Management Agreement,
     any mortgage, security  agreement  or  other  financing permitted hereunder
     and  then  affecting  the  Leased  Property,  as  well  as any declaration,
     ground  lease  or  easement agreement affecting  the  Leased  Property), or
     any Hotel Mortgagee, provided the same is customarily carried by a majority
     of comparable high quality lodging properties in the area.

     9.2  Waiver  of Subrogation. Landlord and Tenant agree that with respect to
any property  loss which is covered by insurance  then being carried by Landlord
or Tenant,  respectively,  the party  carrying such insurance and suffering said
loss releases the other of and from any and all claims with respect to such loss
(to the extent such loss is fully  recovered by payment of insurance  proceeds);
and they further agree that their respective  insurance  companies shall have no
right of subrogation against the other on account thereof.

     9.3  General Provisions.  The  Hotel's allocated  chargeback/deductible for
general  liability  insurance and  workmen's  compensation  insurance  shall not
exceed  $100,000.00  unless such greater amount is approved by both Landlord and
Tenant. The Hotel's property  insurance  deductible shall not exceed $250,000.00
unless such  greater  amount is approved by both  Landlord  and Tenant,  or if a
higher deductible for high hazard risks (i.e., wind or flood) is mandated by the
insurance  carrier.  All insurance  policies pursuant to this ARTICLE 9 shall be
issued by insurance  carriers having a general policy holder's rating of no less
than  A-/VII  in Best's  latest  rating  guide,  and shall  contain  clauses  or
endorsements  to the  effect  that (a)  Landlord  shall  not be  liable  for any
insurance premiums thereon or subject to any assessments thereunder, and (b) the
coverages  provided  thereby  will be primary and any  insurance  carried by any
additional  insured  shall be excess and  non-contributory  to the extent of the
indemnification  obligation  pursuant  to Section 9.5 below.  All such  policies
described in Sections 9.1 shall name  Landlord,  CHC,  CHP, and any Mortgagee as
additional insureds, loss payees, or mortgagees,  as their interests may appear.
All loss  adjustments  shall be payable as provided in ARTICLE 10.  Tenant shall
deliver  certificates  thereof to Landlord  prior to their  effective date (and,
with  respect to any renewal  policy,  prior to the  expiration  of the existing
policy),  which  certificates  shall  state the  nature  and  level of  coverage
reported  thereby,  as well as the  amount of the  applicable  deductible.  Upon
Landlord's  request,  duplicate  original copies of said policies if provided by
Tenant,  shall be delivered to Landlord  and its  Mortgagee by Tenant.  All such
policies  shall  provide  Landlord  (and any  Mortgagee if required by the same)
thirty (30) days prior written notice of any material  change or cancellation of
such policy.

                                       47
<PAGE>

     In the event Tenant shall fail to effect such insurance as herein required,
to pay the premiums  therefor or to deliver such  policies and  certificates  to
Landlord or any Mortgagee at the times required,  Landlord shall have the right,
but not the  obligation,  subject to the  provisions of Section 12.4, to acquire
such insurance and pay the premiums therefor,  which amounts shall be payable to
Landlord,  upon demand,  as Additional  Charges,  together with interest accrued
thereon  at the  Overdue  Rate from the date such  payment  is made  until  (but
excluding) the date repaid.

     9.4 Blanket Policy.  Notwithstanding  anything to the contrary contained in
this ARTICLE 9, Tenant's  obligation to maintain the insurance  herein  required
may be brought within the coverage of a so-called  blanket policy or policies of
insurance carried and maintained by Tenant and approved by Landlord.

     9.5   Indemnification   of  Landlord.  Except as expressly provided herein,
notwithstanding  the existence of any insurance  provided for herein and without
regard  to the  policy  limits  of any such  insurance,  Tenant  shall  protect,
indemnify  and hold harmless  Landlord  for,  from and against all  liabilities,
obligations,  claims, damages, penalties, causes of action, costs and reasonable
expenses  (including,  without limitation,  reasonable  attorneys' fees), to the
maximum extent permitted by law, imposed upon or incurred by or asserted against
Landlord by reason of: (a) any  accident,  injury to or death of persons or loss
of or damage to  property  of third  parties  occurring  on or about the  Leased
Property or adjoining  sidewalks  or rights of way during the Term;  and (b) any
failure on the part of Tenant or any Person  claiming under Tenant to perform or
comply  with any of the terms of this  Agreement  during  the Term;  and (c) any
litigation,  proceeding or claim  resulting from or relating to any such failure
to perform or comply to which Landlord is made a party; provided,  however, that
Tenant's  obligations  hereunder  shall not apply to any liability,  obligation,
claim, damage,  penalty, cause of action, cost or expense arising from the gross
negligence or willful misconduct of Landlord, its employees, agents, contractors
or invitees,  Landlord's  failure to fund under  Section  5.1.4(b) or Landlord's
breach of this  Agreement.  Tenant,  at its expense,  shall contest,  resist and
defend any such  claim,  action or  proceeding  asserted or  instituted  against
Landlord  (and shall not be  responsible  for any  duplicative  attorneys'  fees
incurred by Landlord) or may  compromise  or otherwise  dispose of the same with
Landlord's prior written consent (which consent may not be unreasonably withheld
or delayed). In the event that Landlord shall unreasonably withhold or delay its
consent,  Tenant  shall  not be  liable  pursuant  to this  Section  9.5 for any
incremental increase in costs or expenses resulting  therefrom.  The obligations
of Tenant  under this Section 9.5 are in addition to (but shall not include) the
obligations  set forth in Section 4.2 and shall survive the  termination of this
Agreement for a period of three (3) years and shall thereafter  terminate and be
of no further  force and effect and no action may be brought  under this Section
9.5 after the expiration of such period.

                                   ARTICLE 10

                                    CASUALTY
                                    --------
     10.1  Restoration and Repair. If during the Term the  Leased Property shall
be  totally  or  partially destroyed and thereby  rendered  Unsuitable  for  Its
Permitted Use,  Tenant shall

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<PAGE>

give  Landlord  prompt  Notice  thereof.  Either  Landlord or Tenant may, by the
giving of Notice  thereof to the other party within  ninety (90) days after such
casualty  occurs,  terminate this  Agreement,  whereupon,  this Agreement  shall
terminate  and  Landlord  shall be  entitled  to retain the  insurance  proceeds
payable  on  account of all such  damage to the  Leased  Property  and if Tenant
elects to terminate this Agreement as hereinabove provided,  Tenant shall pay to
Landlord the amount of any  deductible.  If Landlord  elects to  terminate  this
Agreement  as  hereinabove  provided,  Tenant  shall not be  obligated to pay to
Landlord the amount of any deductible.  Tenant further  expressly  acknowledges,
understands  and agrees that in the event that the  Agreement is  terminated  as
aforesaid,  Landlord may settle any insurance  claims with respect to the Leased
Property  and Tenant  shall,  upon  request of  Landlord,  cooperate in any such
settlement.  If during the Term, the Leased Property and/or Leased  Improvements
and/or FF&E shall be destroyed or damaged in whole or in part by fire, windstorm
or any  other  cause  whatsoever,  but  the  Leased  Property  is  not  rendered
Unsuitable for Its Permitted Use,  Tenant shall give Landlord  immediate  Notice
thereof and Tenant shall,  subject to the  provisions  of Section 10.2,  Section
10.3 and  Section  10.4  below,  repair,  reconstruct  and  replace  the  Leased
Improvements and FF&E, or the portion thereof so destroyed or damaged,  at least
to the extent of the value and character  thereof existing  immediately prior to
such  occurrence   including  any  alterations   required  to  be  made  by  any
governmental  body,  county  or city  agency,  (which  Tenant  acknowledges  may
increase the replacement value of the Leased Improvements which Tenant will then
be required to insure) due to any changes in code or building  regulations.  All
such restoration work shall be started as promptly as practicable and diligently
completed at Tenant's sole cost and expense. Tenant shall, however,  immediately
take such  action as is  necessary  to assure that the Leased  Property  (or any
portion  thereof),  does not  constitute  a  nuisance  or  otherwise  present or
constitute a health or safety hazard.

     10.2  Insufficient  Insurance  Proceeds. If this Agreement is not otherwise
terminated pursuant to this ARTICLE 10 and the cost of the repair or restoration
of the Leased  Property  exceeds the amount of  insurance  proceeds  received by
Landlord and Tenant  pursuant to this ARTICLE 10,  Tenant  shall  promptly  give
Landlord Notice thereof,  which Notice shall set forth in reasonable  detail the
nature of such  deficiency and whether Tenant shall pay and assume the amount of
such  deficiency  (Tenant  having no  obligation to do so except that, if Tenant
shall elect to make such funds  available,  the same shall become an irrevocable
obligation of Tenant).  In the event Tenant shall elect not to pay the amount of
such  deficiency,  Landlord  shall  have the  right  (but  not the  obligation),
exercisable at Landlord's sole election by Notice to Tenant,  given within sixty
(60) days after Tenant's  Notice of the  deficiency,  to elect to make available
for  application  to the  cost of  repair  or  restoration  the  amount  of such
deficiency;  provided,  however,  that in such event,  upon any  disbursement by
Landlord thereof, the Minimum Rent shall be increased in the manner contemplated
for Major Repairs as provided in Section 5.1.3(c) hereof as if such disbursement
were a Major Capital Expenditures. In the event that neither Landlord nor Tenant
shall elect to make such deficiency  available for restoration,  either Landlord
or Tenant may terminate  this  Agreement by notice to the other,  whereupon this
Agreement  shall  terminate  as  provided  in  Section  10.1.  It  is  expressly
understood and agreed, however, that notwithstanding  anything in this Agreement
to the contrary,  in the event this Agreement is terminated as  contemplated  in
this Section 10.2,  Tenant shall be strictly  liable and solely  responsible for
the amount of any deductible.

                                       49
<PAGE>

     10.3 Escrow of  Insurance  Proceeds.  In the event of a casualty  resulting
in a loss to the Leased  Improvements  and/or FF&E in an amount greater than ONE
HUNDRED  THOUSAND  AND  NO/100  DOLLARS  ($100,000.00),  (as  determined  by  an
architect,  engineer or other design  professional  approved by  Landlord),  and
provided this Lease is not  terminated  as provided in Section 10.1 hereof,  the
proceeds of all insurance policies  maintained by Tenant for and with respect to
the Leased  Property  shall be deposited in  Landlord's  and Tenant's name in an
escrow account at a bank or other financial institution  designated by Landlord,
and shall be used by Tenant for the repair, reconstruction or restoration of the
Leased Improvements and/or FF&E to their original condition. Such proceeds shall
be disbursed  periodically  by Landlord  upon  certification  of the  architect,
engineer  or  other  design   professional   approved  by  Landlord  and  having
supervision  of the work that such  amounts are the amounts  paid or payable for
the  repair,  reconstruction  or  restoration.  Tenant  shall,  at the  time  of
establishment of such escrow account and from time to time thereafter until said
work shall have been  completed  and paid for,  furnish  Landlord  with adequate
evidence acceptable to Landlord that at all times the undisbursed portion of the
escrowed funds,  together with any funds made available by Tenant or Landlord as
applicable and required in this Agreement,  is sufficient to pay for the repair,
reconstruction  or  restoration in its entirety.  Tenant shall obtain,  and make
available to Landlord,  receipted  bills and, upon completion of said work, full
and final  waivers  of lien.  In the  event of a  casualty  resulting  in a loss
payment  for  the  Leased  Improvements  in an  amount  equal  to or  less  than
$100,000.00,  the proceeds shall be paid to Tenant, and shall be applied towards
repair,  reconstruction  and  restoration.  Any and all  loss  adjustments  with
respect to losses to the Leased  Property  payable  hereunder  shall require the
prior written consent of Landlord.  All salvage  resulting from any risk covered
by insurance  shall belong to Tenant,  provided any rights to the same have been
waived by the insurer. In addition,  notwithstanding  anything in this Agreement
to the contrary in connection with a casualty contemplated in this Section 10.3,
Tenant  shall be strictly  liable and solely  responsible  for the amount of any
deductible  and shall pay for all repairs,  reconstruction  or alterations up to
the full amount of such  deductible  (and  provide  evidence of such  payment to
Landlord  by  documentation   reasonably  acceptable  to  Landlord)  before  any
insurance proceeds are used for repairs, reconstruction or alterations.

     10.4  Repairs.  In  the  event  Tenant  is  required  to restore the Leased
Property  pursuant to Section 10.1,  Tenant shall commence promptly and continue
diligently  to  perform  the  repair  and  restoration  of the  Leased  Property
(hereinafter  called the  "Work"),  so as to  restore  the  Leased  Property  in
compliance with all Legal Requirements and so that the Leased Property shall be,
to the extent practicable, substantially equivalent in value and general utility
to  its  general  utility  and  value   immediately  prior  to  such  damage  or
destruction.  Subject  to the terms  hereof,  the  Landlord  shall  advance  the
insurance  proceeds  during the repair  and  restoration  period so as to permit
payment for the cost of any such restoration and repair. Any such advances shall
be made not more than monthly within ten (10) Business Days after Tenant submits
to Landlord a written requisition and substantiation  therefor on AIA Forms G702
and  G703 (or on such  other  form or forms  as may be  reasonably  approved  by
Landlord).  Landlord may require,  at its option,  prior to  advancement of said
insurance  proceeds and other amounts:  (i) approval of plans and specifications
by  an  architect  or  other  design   professional   satisfactory  to  Landlord
appropriate  under the  circumstances and approved by Landlord and Tenant (which
approval  shall  not  be  unreasonably   withheld  or  delayed),   (ii)  general
contractors' estimates, (iii) architect's certificates,  (iv) unconditional lien
waivers of general contractors, if

                                       50
<PAGE>

available,  (v)  evidence  of  approval  by all  Government  Agencies  and other
regulatory  bodies  whose  approval is required,  and (vi) such other  customary
terms as a Mortgagee or Landlord may reasonably require.

     10.5  Abatement  of Rent.  Unless terminated pursuant to this Section, this
Agreement shall remain in full force and effect and Tenant's  obligation to make
all payments of Rent and to pay all the charges as and when required  under this
Agreement  shall  remain  unabated  during the Term  notwithstanding  any damage
involving the Leased Property  (provided that Landlord shall credit against such
payments any amounts paid to Landlord as a consequence  of such damage under any
business interruption or rent loss insurance obtained by Tenant hereunder).  The
provisions of this Section 10 shall be considered an express agreement governing
any cause of damage or  destruction  to the Leased  Property and, to the maximum
extent  permitted by law,  Tenant hereby waives the  application of any local or
state  statute,  law,  rule,  regulation  or ordinance in effect during the Term
which provides for such a contingency.

     10.6  Tenant's  Property  and  Business  Interruption  Insurance.
Notwithstanding  any provision  herein to the contrary,  all insurance  proceeds
payable by reason of any loss of or damage to any of Tenant's  Personal Property
and the business  interruption  insurance  maintained  for the benefit of Tenant
shall be paid to Tenant.

     10.7  Restoration  of  Tenant's Property.  If Tenant is required to restore
the Leased Property as hereinabove provided, Tenant shall either (i) restore all
alterations and improvements made by Tenant and Tenant's Personal  Property,  or
(ii) replace such alterations and improvements  and Tenant's  Personal  Property
with  improvements  or items of the same or better  quality  and  utility in the
operation of the Leased Property.

     10.8 Waiver.  Tenant hereby waives  any  statutory  rights  of  termination
which may arise by reason of any damage or destruction of the Leased Property.

                                   ARTICLE 11

                                  CONDEMNATION
                                  ------------

     11.1 Total  Condemnation, Etc. If the whole of the Leased Property shall be
taken or condemned for any public or  quasi-public  use or purpose,  by right of
eminent  domain or by purchase in lieu thereof,  or if any portion of the Leased
Property  shall be so taken or  condemned  such  that  the  Leased  Property  is
rendered  Unsuitable  For Its Permitted  Use,  then this  Agreement and the Term
hereof shall cease and terminate  (without  prejudice to Landlord's and Tenant's
respective rights to an award under Section 11.3 below), as of the date on which
the condemning  authority takes  possession and all Rent shall be paid by Tenant
to  Landlord  up to that  date or  refunded  by  Landlord  to Tenant if Rent has
previously been paid by Tenant beyond that date.

     11.2 Partial  Condemnation;  Temporary   Condemnation.  If a portion of the
Leased  Property is taken and such  taking  does not render the Leased  Property
Unsuitable For Its Permitted Use, then the Tenant shall,  utilizing condemnation
proceeds paid to Landlord from the condemning  authority,  promptly  restore the
remaining  portion  or  portions  thereof  to a  condition  comparable  to their
condition  at the time of such  taking  or  condemnation,  less the  portion  or
portions lost by the taking, and this Agreement shall continue in full force and
effect except that the Rent payable hereunder shall, if necessary,  be equitably
adjusted to take

                                       51
<PAGE>

into account the portion or portions of the Leased  Property lost by the taking.
Any  dispute  as to the  equitable  adjustment  of Rent  shall  be  resolved  by
arbitration pursuant to ARTICLE 19 hereof.

     In the event of any temporary  Condemnation  of the Leased  Property or any
portion thereof or Tenant's interest  therein,  this Agreement shall continue in
full force and effect and Tenant shall continue to pay, in the manner and on the
terms herein  specified,  the full amount of Rent and Tenant  shall  continue to
perform and observe all of the other terms and  conditions of this  Agreement on
the part of the  Tenant  to be  performed  and  observed.  Provided  no Event of
Default has occurred and is continuing,  the entire amount of any Award made for
such temporary  Condemnation allocable to the Term hereof, whether to pay by way
of damages,  Rent or otherwise,  shall be paid to Tenant. Tenant shall, promptly
upon the termination of any such period of temporary  Condemnation,  restore the
Leased  Property  to the  condition  that  existed  immediately  prior  to  such
condemnation, in full compliance with Legal Requirements,  unless such period of
temporary  Condemnation shall extend beyond the expiration of the Term, in which
event Tenant shall not be required to  make  such  restoration.  Notwithstanding
Section 11.3 below, Tenant shall apply  any  proceeds of the Award that have not
been used to  fulfill  Tenant's  obligations  under  this  Agreement  (including
payment of Rent) during such period of temporary  condemnation to so restore the
Leased  Premises;  provided,  in the event such remaining amount of the Award is
not  sufficient  to cover the costs of  completing  such  restoration,  Landlord
agrees to fund such  shortfall  as an approved  Major  Capital  Expenditure  and
Minimum Rent shall be increased in the manner contemplated pursuant to  Sections
5.1.3 and 5.1.4. For purposes of this Section  11.2,  a  Condemnation  shall  be
deemed to be a temporary  Condemnation  if title is not,  and is not intended to
be, or sought to be, permanently taken by the condemning authority,  but rather,
only the right to use and occupy is taken by the  condemning  authority with the
intent that the condemning  authority (or its designated  user or occupant) will
return the right to use and occupy after the period of such temporary taking.

     11.3  Disbursement of Award.  The entire  Award for the Leased  Property or
the portion or portions  thereof so taken shall be apportioned  between Landlord
and  Tenant as  follows:  (a) if this  Agreement  terminates  due to a taking or
condemnation, Landlord shall be entitled to the entire Award; provided, however,
that any  portion  of the Award  expressly  allocable  or made for the taking of
Tenant's leasehold interest in the Leased Property,  loss of business during the
remainder of the Term, and the taking of Tenant's Personal Property shall be the
sole  property  of and  payable  to  Tenant  and in the  event  no such  express
allocation for the taking of Tenant's leasehold  interest is made,  Landlord and
Tenant  agree to determine  the same by an  appraisal of the parties  respective
interests  in the Leased  Property,  and of Tenant's  Personal  Property,  by an
appraiser  mutually  acceptable to Landlord and Tenant,  and any such portion of
the Award  allocated  to Tenant by such  appraiser  shall be the property of and
payable to Tenant,  and (b) if this  Agreement  does not  terminate  due to such
taking or  condemnation,  Tenant  shall be  entitled  to the Award to the extent
required for restoration of the Leased Property,  and Landlord shall be entitled
to the balance of the Award not applied to restoration except for any portion of
the  Award  for  taking  Tenant's   Personal   Property.   In  any  condemnation
proceedings,  Landlord  and Tenant  shall each seek its own Award in  conformity
herewith,  at its own expense.  If this  Agreement  does not  terminate due to a
taking or condemnation,  Tenant shall, with due diligence, restore the remaining
portion or portions of the Leased Property in the manner  hereinabove  provided.
In such event,  the proceeds of the Award to be applied to restoration  shall be
deposited with a bank or financial institution designated by Landlord as if such
Award were insurance  proceeds,  and the amount so deposited will  thereafter be
treated in the same manner as insurance proceeds are to be treated under Section

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<PAGE>

10.3 of this Agreement  until the  restoration has been completed and Tenant has
been reimbursed for all the costs and expenses  thereof.  Landlord's  obligation
under this Section 11.3 to disburse  the Award and such other  amounts  shall be
subject to (x) the  collection  thereof by Landlord  and (y) during the last two
(2) years of the Term,  the release of such Award by the  applicable  Mortgagee;
otherwise  each such Mortgagee  shall be obligated to make such funds  available
for  Landlord's  use in accordance  with the terms of this  Agreement.  Tenant's
obligation to restore the Leased Property shall be subject to the release of the
Award by the applicable Mortgagee to Landlord.  If during the last two (2) years
of the  Term,  such  funds  are not  collected  or  released  this  Lease  shall
terminate.  If the Award is  insufficient to pay for the restoration or Landlord
does not  collect  the Award,  and the Lease is not in the last two (2) years of
the Term,  Section 10.2 shall govern any  insufficiency  of the Award to pay for
restoration of the Leased Property  (including the termination  rights set forth
therein) to the same extent as if the Award were insurance  proceeds;  provided,
however,  if  Landlord  thereafter  collects  the Award,  and Tenant or Landlord
elects to fund any deficiency as  contemplated  in Section 10.2,  either (i) the
amount  of the Award  equal to such  insufficiency  funded  by  Tenant  shall be
delivered to Tenant in the event Tenant  funded such  insufficiency  pursuant to
Section  10.2  hereof,  or (ii)  Landlord  shall keep the Award and Minimum Rent
shall be reduced to the extent the amount of the Award covers such insufficiency
in  the  event  Landlord  had  funded  such  insufficiency  as a  Major  Capital
Expenditure pursuant to Section 10.2.

     11.4  Abatement  of  Rent.   Other  than as  specifically  provided in this
Agreement,  this  Agreement  shall  remain in full force and effect and Tenant's
obligation to make all payments of Rent and to pay all other charges as and when
required  under  this   Agreement   shall  remain   unabated   during  the  Term
notwithstanding any Condemnation  involving the Leased Property.  The provisions
of this  ARTICLE 11 shall be  considered  an  express  agreement  governing  any
Condemnation  involving the Leased Property and, to the maximum extent permitted
by law, no local or State statute,  law, rule, regulation or ordinance in effect
during the Term which provides for such a contingency shall have any application
in such case.

     11.5  Disputes.  If  Landlord  and  Tenant  cannot  agree in respect of any
matters to be determined under this Article, a determination  shall be requested
of the court  having  jurisdiction  over the taking or  condemnation;  provided,
however, that if said court will not accept such matters for determination, such
matters shall be resolved by arbitration pursuant to ARTICLE 19 hereof.

                                   ARTICLE 12

                              DEFAULTS AND REMEDIES
                             ---------------------

     12.1 Events of Default. Each of the  following  events shall be an Event of
Default  hereunder by Tenant and shall constitute a breach of this Agreement:

     (a) If  Tenant  shall  fail  to  pay,  (i)  when  due, any  Minimum Rent or
     Percentage Rent, or portion  thereof and such  failure  shall  continue for

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<PAGE>

     a  period of five  (5)  days,  or (ii)  any  Additional  Charges  when  due
     and  payable  hereunder  or  any  other  sum  due  to  Landlord from Tenant
     hereunder,  within  ten  (10)  days  after  receipt  of Notice thereof from
     Landlord;

     (b)  If  Tenant  shall  violate or fail to comply with or perform any other
     term,  provision,  covenant,  agreement  or  condition  to  be performed or
     observed  by  Tenant  under  this  Agreement, and such violation or failure
     shall  continue  for a period of thirty (30) days after Notice thereof from
     Landlord;  provided,  however,  that if such default is susceptible of cure
     but  such  cure cannot be accomplished with diligent and continuous efforts
     within  such  period of time, and if, in addition, Tenant commences to cure
     or cause to be cured such default within such period of time and thereafter
     prosecutes  the  curing  of  such  default  with  diligence  and continuous
     efforts, such  thirty  (30)  day  period  of time shall be extended to such
     period of time as may be necessary to cure  such default with diligence and
     continuous efforts not to exceed however, an additional  ninety  (90) days.

     (c) Except for a "change of control of Wyndham" (as defined in Section 16.4
     hereof)  as  to  which only the provisions of Section 16.4 shall apply, and
     except  as  otherwise  expressly  authorized  under  Section  16.4,  if any
     assignment, transfer, sublease or encumbrance shall be made or deemed to be
     made that is in violation of the provisions of this Agreement, or if Tenant
     shall  cease to be a  majority  owned  direct  or  indirect  subsidiary  of
     Wyndham.

     (d)  If  Tenant  shall  cease  the  actual  and continuous operation of the
     business  contemplated by this Agreement to be conducted by Tenant upon the
     Leased  Property  (and  such  cessation  is  not  the  result  of casualty,
     condemnation, or other event of force majeure, renovation or restoration or
     is  not  otherwise  permitted  by  Landlord or is not the result of a legal
     requirement  or  during  an  emergency,  but  Tenant  shall  not thereby be
     relieved of its obligation to pay Rent as required herein, except as may be
     expressly  provided  herein);  or if Tenant shall vacate, desert or abandon
     the  Leased  Property; or if the Leased Property or Leased Improvements are
     used or are permitted to be used for any purpose, or for the conduct of any
     activity,  not  permitted by this Agreement except as a result of temporary
     Condemnation.

     (e)  If,  at  any  time during the Term of this Agreement, Tenant shall, or
     Guarantor shall  during  the  term  of  the  Guaranty,  file  in any court,
     pursuant to any statute of either the United  States  or  of  any  State, a
     petition in bankruptcy or insolvency, or for reorganization or arrangement,
     or for the appointment of a receiver or trustee of all or  any  portion  of
     Tenant's property, including, without limitation, its leasehold interest in
     the Leased Property, or if Tenant shall make an assignment for the  benefit
     of its creditors or petitions for or enters into an  arrangement  with  its
     creditors.

     (f)  If, at any time during the Term of this Agreement, there shall be
     filed  against Tenant or Guarantor (prior to the expiration of the Guaranty
     by its terms) in any courts pursuant to any statute of the United States or
     of any

                                       54
<PAGE>

     State,  a  petition  in bankruptcy or insolvency, or for reorganization, or
     for  the  appointment  of  a  receiver  or  trustee  of all or a portion of
     Tenant's property, including, without limitation, its leasehold interest in
     the Leased Property or of all or substantially all of Guarantor's Property,
     and any such proceeding against Tenant or Guarantor shall not be dismissed
     within ninety (90) days following the commencement thereof.

     (g)  If  Tenant's leasehold interest in the Leased Property or any property
     therein  shall be seized  under any levy,  execution,  attachment  or other
     process of court where the same shall not be vacated or stayed on appeal or
     otherwise  within  thirty (30) days  thereafter,  or if Tenant's  leasehold
     interest in the Leased  Property is sold by judicial  sale and such sale is
     not vacated,  set aside or stayed on appeal or otherwise within thirty (30)
     days thereafter.

     (h)  If  Tenant  shall  default  under  any Management Agreement beyond any
     applicable cure period for or concerning the Leased Property.

     (i)  If  an Event of Default shall occur under and as defined in any of the
     Other Leases.

     (j)  If  a  final  unappealable  determination  is made by applicable State
     authorities  of  the  revocation  or  limitation  of  any material license,
     permit,  certification or approval required for the lawful operation of the
     Leased Property in accordance with its Permitted Use or  there  occurs  the
     loss or material limitation of any material license, permit,  certification
     or approval under any other circumstances and Tenant is required  to  cease
     its operation of the Leased Property in accordance with its  Permitted  Use
     at the time of such revocation, loss or limitation except  as  a  result of
     casualty, condemnation or other  event  of  force  majeure,  renovation  or
     restoration (but Tenant shall not  thereby be relieved of its obligation to
     pay Rent as required herein, except as may be expressly provided herein).

     12.2  Remedies  on  Default. If any Event of Default hereinabove  specified
shall occur,  Landlord, at any time thereafter,  shall have and may exercise any
of the following rights and remedies:

     (a)  Landlord  may, pursuant to written notice thereof to Tenant, terminate
     this Agreement and, peaceably or pursuant to appropriate legal proceedings,
     re-enter,   retake  and  resume  possession  of  the  Leased  Property  for
     Landlord's  own account and, for Tenant's  breach of and default under this
     Agreement, recover immediately from Tenant any and all rents and other sums
     and  damages due and  payable at the time of such  termination,  including,
     without limitation,  (i) all Rent and other sums, charges,  payments, costs
     and expenses then due and payable by Tenant to Landlord hereunder, (ii) all
     reasonable  costs and expenses of Landlord in connection  with the recovery
     of possession of the Leased Property,  including reasonable attorney's fees
     based upon services rendered at hourly rates and court costs, and (iii) all
     reasonable  costs and expenses of Landlord in connection with any reletting

                                       55
<PAGE>

     or attempted reletting of the Leased Property or any part or parts thereof,
     including,   without   limitation,   brokerage  fees,   advertising  costs,
     reasonable attorney's fees based upon services rendered at hourly rates and
     the reasonable  cost of any  alterations or repairs or tenant  improvements
     which may be reasonably  required to so relet the Leased  Property,  or any
     part or parts  thereof.  In  addition,  in the  event  Landlord  elects  to
     terminate this Agreement,  upon Landlord's request, Tenant agrees to assign
     to  Landlord  or to cause  Manager  to assign to  Landlord  all  contracts,
     leases, permits and other agreements entered into by Tenant or Manager with
     respect to the operation, maintenance, use or repair of the Leased Property
     other than Tenant's Intangible Personal Property, the Management Agreement,
     and National Contracts.

     (b)  Landlord  may,  pursuant  to  any  prior  notice  required by law, and
     without  terminating  this  Agreement, peaceably or pursuant to appropriate
     legal  proceedings,  re-enter,  retake  and resume possession of the Leased
     Property for the account of Tenant, make  such  alterations  of and repairs
     and  tenant  improvements  to  the  Leased  Property  as  may be reasonably
     necessary in order to relet the same or any part or parts thereof and relet
     or  attempt  to  relet the Leased Property or any part or parts thereof for
     such  term  or terms (which may be for a term or terms extending beyond the
     Term  of  this  Agreement),  at  such  rents  and upon such other terms and
     provisions  as  Landlord,  in  its sole discretion, may deem advisable.  If
     Landlord  takes  possession and control of the Leased Property and operates
     the  same,  Tenant shall, for so long as Landlord is actively operating the
     Leased  Property,  have  no  obligation to operate the Leased Property.  If
     Landlord relets or attempts to relet the Leased Property, Landlord shall at
     its  sole discretion determine the terms and provisions of any new lease or
     sublease  and  whether or not a particular proposed new tenant or sublessee
     is  acceptable  to Landlord.  Provided, however, such reletting shall be on
     fair market terms if to an Affiliate of Landlord.  Upon any such reletting,
     all  rents received by the Landlord from such reletting shall be applied as
     follows: (a)  first, to the payment of all reasonable costs and expenses of
     recovering possession of the Leased Property, (b) second, to the payment of
     any  reasonable  costs  and expenses of such reletting, including brokerage
     fees, advertising  costs,  reasonable  attorney's  fees and the cost of any
     alterations and repairs reasonably required for  such reletting; (c) third,
     to the payment of any indebtedness, other  than Rent,  due  hereunder  from
     Tenant to the Landlord, (d) fourth, to the payment  of  all  Rent and other
     sums due and  unpaid hereunder, and (e) fifth, the residue, if  any,  shall
     be held by the Landlord and applied in payment of future Rents as  the same
     may become due and payable hereunder.  If  the  rents  received  from  such
     reletting during any period shall be  less  than  that  required to be paid
     during that period by the Tenant hereunder, Tenant  shall  promptly pay any
     such deficiency to the Landlord and failing the prompt  payment  thereof by
     Tenant to Landlord, Landlord shall immediately  be  entitled  to  institute
     legal proceedings for  the  recovery  and  collection  of  the  same.  Such
     deficiency  shall  be  calculated and paid at the time each payment of rent
     shall otherwise  become  due  under  this  Agreement,  or, at the option of

                                       56
<PAGE>

     Landlord, at the end of the Term of  this  Agreement.   No  such  re-entry,
     retaking or resumption of possession of the Leased Property by the Landlord
     for the account of Tenant shall be  construed as an election on the part of
     Landlord to terminate this  Agreement  unless  a  written  notice  of  such
     intention shall be given  to  the  Tenant or unless the termination of this
     Agreement be decreed by a court of competent jurisdiction.  Notwithstanding
     any such re-entry and  reletting  or  attempted  reletting  of  the  Leased
     Property or any part  or  parts  thereof  for the account of Tenant without
     termination, Landlord may at any time  thereafter,  upon  written notice to
     Tenant, elect to terminate  this  Agreement  or  pursue  any  other  remedy
     available to Landlord for Tenant's previous breach of or default under this
     Agreement.

     (c)  Landlord may, (i) without re-entering, retaking or resuming possession
     of  the  Leased  Property,  sue  for  all Rent and all other sums, charges,
     payments, costs and expenses due  from Tenant to Landlord hereunder as they
     become due under this Agreement or  (ii)  at  Landlord's  option, terminate
     this Agreement and re-enter, retake and resume  possession  of  the  Leased
     Premises, and in addition to any Rent then due  and owing, Tenant shall pay
     to Landlord as damages an amount equal to the  present value (discounted at
     the rate of ten and a half (10.5%) per annum) of the excess, if any, of the
     Rent,  as well as all other sums, charges,  payments,  costs  and  expenses
     which  would  be  payable hereunder by Tenant to Landlord. from the date of
     such  termination (assuming that, for the purpose of this paragraph, annual
     payments  by Tenant on account of Impositions, and Additional Rent would be
     the same  as  payments  required  for the immediately preceding twelve (12)
     calendar months, or if  less  than twelve (12) calendar months have expired
     since the Commencement Date,  the  payments required for such lesser period
     projected to an annual amount) for what would be the then unexpired Term of
     this Agreement (excluding unexercised renewal options) if the same remained
     in  effect, over  the  fair  market  rental  for  the same period.  Nothing
     contained in this Agreement shall, however, limit or prejudice the right of
     Landlord to prove and obtain in proceedings for bankruptcy or insolvency an
     amount equal to the maximum allowed by any statute or rule of law in effect
     at the time when, and governing the proceedings  in  which, the damages are
     to be proved, whether or not the amount be greater than,  equal to, or less
     than the amount of the loss or damages  referred  to  above.  Regardless of
     the foregoing  remedy  under  this  subparagraph (c), Landlord shall not be
     required to relet the Leased  Property nor exercise any other right granted
     to Landlord pursuant to this Agreement.

     (d)  Landlord may, in addition to any other remedies provided herein, enter
     upon  the Leased Property or any portion thereof and take possession of (i)
     any  and  all  of  Tenant's  Personal Property, if any (other than items of
     Tenant's  Intangible  Personal  Property),  (ii) Tenant's books and records
     necessary to operate the Leased Property, and (iii) the Reserve and all the
     bank accounts concerning, or established for,  the Leased Property, without
     liability for trespasses or conversion (Tenant  hereby waiving any right to
     notice or hearing prior to such taking of possession  by Landlord) and sell
     the same by public or private sale, after giving Tenant  reasonable  notice
     of the time and place of any public or private sale, at which sale Landlord
     or  its  assigns  may  purchase  all  or  any  portion of Tenant's Personal
     Property (other  than  items  of Tenant's Intangible Personal Property), if
     any, unless otherwise prevented  by  law.  Unless otherwise provided by law

                                       57
<PAGE>

     and  without  intending  to exclude  any  other  manner  of  giving  Tenant
     reasonable  notice,  the  requirement  of reasonable notice shall be met if
     such notice is given at least  ten (10)  days before the date of sale.  The
     proceeds  from  any  such  disposition,  less  all  expenses  incurred   in
     connection with the taking of possession, holding and  selling  of  any  of
     such  property  (including  reasonable  attorneys' fees based upon services
     rendered at hourly rates)  shall  be  credited  against  Rent  which is due
     hereunder.

     (e)  In  addition  to  the  remedies  hereinabove specified and enumerated,
     Landlord shall have and may exercise the right to invoke any other remedies
     allowed  at  law  or  in  equity  as  if the remedies of re-entry, unlawful
     detainer proceedings and other remedies were not herein provided including,
     but not limited to, the right to sue for  and otherwise recover from Tenant
     any damages occasioned by or resulting  from  any abandonment of the Leased
     Property or other breach of, or default under this Agreement.  Accordingly,
     the mention in this Agreement of any particular  remedy  shall not preclude
     Landlord from having or exercising any other remedy at  law  or  in equity.
     In  addition,   any   provision  of   this   Agreement  to   the   contrary
     notwithstanding, no provision of this Agreement shall  delay  or  otherwise
     limit Landlord's right to seek injunctive relief or Tenant's  obligation to
     comply with any such injunctive relief.

     12.3  Application  of Funds. Any  payments  received by Landlord  under any
of the provisions of this  Agreement  during the existence or continuance of any
Event of Default (and any payment made to Landlord rather than Tenant due to the
existence of any Event of Default) shall be applied to Tenant's current and past
due obligations  under this Agreement in such order as Landlord may determine or
as may be prescribed by the laws of the State.

     12.4  Landlord's Right  to  Cure  Tenant's  Default. If an Event of Default
shall exist hereunder,  Landlord may, but have no obligation to, after notice to
Tenant and a reasonable time to perform after such notice (or without notice if,
in Landlord's  reasonable opinion, an emergency exists) perform the same for the
account  and at the  expense  of  Tenant.  If, at any time and by reason of such
Event of Default,  Landlord is  compelled  to pay, or elects to pay,  any sum of
money or do any act which will  require the  payment of any sum of money  (other
than  the  cost  of any  Major  Capital  Expenditures  or  Reserve  Expenditures
contained  in an Approved  Reserve  Estimate  which  Landlord  has agreed to pay
hereunder as expressly contemplated in Section 5.1.3 and 5.1.4(b) hereof), or is
compelled  to incur any expense in the  enforcement  of its rights  hereunder or
otherwise,  such sum or sums, together with interest thereon at the Overdue Rate
shall be deemed Additional  Charges hereunder and shall be repaid to Landlord by
Tenant  promptly  when billed  therefor,  and  Landlord  shall have all the same
rights and  remedies in respect  thereof as Landlord has in respect of the rents
herein reserved.

     12.5  Landlord's Lien.  Landlord  shall  have at all times  during the Term
of this  Agreement,  a valid  lien for all rents and other  sums of money due or
becoming  due  hereunder  from  Tenant,  upon  all  goods,  wares,  merchandise,
inventory,  furniture, fixtures, equipment, vehicles and other tangible personal
property  and  effects  of  Tenant  situated  in or upon  the  Leased  Property,
including Tenant's Personal Property but excluding items of Tenant's  Intangible
Personal  Property,  and such  property  shall not be  removed  from the  Leased

                                       58
<PAGE>

Property  except in  accordance  with the terms of this  Agreement  without  the
approval and consent of Landlord until all arrearages in rent as well as any and
all other sums of money then due to  Landlord  hereunder  shall  first have been
paid and discharged in full.  Upon the occurrence and during the  continuance of
any Event of Default by Tenant,  Landlord may, in addition to any other remedies
provided herein or by law, enter upon the Leased Property and take possession of
any and all goods, wares, merchandise, books and records, inventory,  furniture,
fixtures,  equipment,  vehicles and other tangible personal property and effects
of Tenant situated in or upon or with respect to the Leased Property,  including
Tenant's Personal Property but excluding items of Tenant's  Intangible  Personal
Property,  without  liability for trespass or  conversion,  and sell the same at
public or private sale, with or without having such property appraised, at which
Landlord  or its  assigns may  purchase  any of the same and apply the  proceeds
thereof,  less any and all expenses  connected with the taking of possession and
sale, as a credit against any sums due from Tenant, and Tenant agrees to pay any
deficiency  forthwith.  If Landlord  takes  possession and control of the Leased
Property and operates the same, Tenant shall for so long as Landlord is actively
operating  the  Leased  Property,  have no  obligation  to  operate  the  Leased
Property. Alternatively, the lien hereby granted may be foreclosed in the manner
and form provided by law for  foreclosure of security  interests or in any other
manner and form  provided by law. The  statutory  lien for rent,  if any, is not
hereby  waived and the express  contractual  lien herein  granted is in addition
thereto  and  supplementary  thereto.  Tenant  agrees to execute  and deliver to
Landlord  from time to time  during the Term of this  Agreement  such  financing
statements  as may be required  by  Landlord in order to perfect the  Landlord's
lien provided herein or by Applicable Laws. Tenant further agrees that during an
Event of Default or the pendency of any event or  circumstance  which,  with the
passage of time may become an Event of Default  under  Section  12.1(a),  Tenant
shall not make any distributions to its shareholders, partners, members or other
owners and any such  distributions  shall be subordinate to Landlord's claim for
Rent and other sums hereunder.

     12.6  The Other Leases. As   referenced   in   this   Agreement,   Landlord
and Tenant are,  contemporaneously with, or subsequent to, the execution of this
Agreement,  entering  into the Other  Leases.  It is the express  agreement  and
understanding  of Landlord and Tenant that this  Agreement  and the Other Leases
are and shall be cross defaulted and cross collateralized such that (a) an Event
of Default  under,  and/or  termination  of, this  Agreement or any of the Other
Leases  shall be and  constitute  an Event of Default  under and, at  Landlord's
option  exercised by written  notice,  immediately  effect a termination of, the
Other Leases and this Agreement, respectively and (b) any security or collateral
given by Tenant  hereunder  and under the Other  Leases,  including the Security
Deposit and Minimum Rent Reserve,  may be taken by Landlord to cure any Event of
Default under this Agreement or any of the Other Leases.  Provided,  however, if
this  Agreement  is  terminated  by either  Landlord  or Tenant as a result of a
casualty  pursuant to Sections 10.1 and 10.2 or  condemnation  under ARTICLE 11,
such  termination  shall not  constitute or require a  termination  of the Other
Leases and such Other Leases shall  survive the  termination  of this  Agreement
under Sections 10.1 and 10.2 or condemnation  under ARTICLE 11.  Further,  it is
the express agreement,  intent and understanding of the Landlord and Tenant that
(x) this Agreement and the Other Leases are not severable;  and (y) in the event
that Tenant shall file for, or there shall be filed against Tenant,  bankruptcy,
insolvency or a similar arrangement or proceeding,  this Agreement and the Other
Leases shall be and remain cross  defaulted and considered one Lease and may not
be severed or assumed  separately in any such proceedings,  it being the express
agreement  and intent of Landlord  and Tenant that either all of this  Agreement
and the Other  Leases  shall be rejected by any  receiver or trustee in any such
proceedings  or all of said  Leases  shall be  assumed by any such  receiver  or
trustee.

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<PAGE>

     12.7  Landlord's  Default.  Subject  to  Landlord's  right to  dispute  its
obligations in accordance  with the terms of this  Agreement,  if Landlord shall
default in the  performance or observance of any of its covenants or obligations
set forth in this  Agreement and any such default shall continue for a period of
ten (10) days after Notice thereof with respect to monetary defaults, and thirty
(30) days after  Notice  thereof  with respect to  non-monetary  defaults,  from
Tenant to Landlord and any applicable  Hotel Mortgagee  (subject to Section 20.3
hereof and provided,  that if such non-monetary  default is susceptible of cure,
but such cure cannot be  accomplished  with  diligence  and  continuous  efforts
within such period of time, and, if in addition,  Landlord  commences to cure or
cause to be  cured  such  default  within  such  period  of time and  thereafter
prosecutes  the curing of such default with  diligence and  continuous  efforts,
such period of time shall be extended to such period of time as may be necessary
to cure such  default  with  diligence  and  continuous  efforts  not to exceed,
however,  an additional ninety (90) days, Tenant may declare the occurrence of a
"Landlord  Default" by giving Notice of such declaration to Landlord and to such
Hotel Mortgagee.  Thereafter,  Tenant may (but shall have no obligation to) cure
the same and,  subject to the  provisions  of the following  paragraph,  invoice
Landlord for costs and expenses (including  reasonable attorneys' fees and court
costs)  incurred by Tenant in curing the same,  together with  interest  thereon
from the date Landlord receives Tenant's invoice, at the Overdue Rate. Except as
otherwise  expressly  provided in this  Agreement to the contrary,  Tenant shall
have no right to terminate this Agreement for any default by Landlord  hereunder
and no right, for any such default,  to offset or counterclaim  against any rent
or other charges due hereunder.

     If Landlord  shall in good faith  dispute the  occurrence  of any  Landlord
Default,  and Landlord,  before the  expiration of the  applicable  cure period,
shall give Notice thereof to Tenant,  setting forth, in reasonable  detail,  the
basis  therefor,  no  Landlord  Default  shall be  deemed to have  occurred  and
Landlord  shall have no  obligation  with respect  thereto  until final  adverse
determination  thereof  by  arbitration  as  contemplated  in ARTICLE 19 hereof;
provided, however, that in the event of any such adverse determination, Landlord
shall pay to Tenant interest on any disputed fine at the Disbursement  Rate from
the date demand of such funds is made by Tenant until the date of final  adverse
determination and, thereafter, at the Overdue Rate until paid.

     12.8 Special  Remedies for Landlord  Funding  Default.  In the event of any
Landlord  Default arising solely under Section  5.1.4(b),  Tenant shall have the
right, in Tenant's sole discretion,  in addition to all other remedies of Tenant
hereunder, to exercise any one or more of the following remedies:

     (a) Tenant may fund the deficient  amounts and offset the aggregate  amount
     thereof,  plus  interest  thereon  from the date of funding at the  Overdue
     Rate,  against any Rent payable by Tenant subsequent to the date of advance
     by Tenant pursuant to this Agreement until recouped; or

     (b)  Tenant may  terminate  this  Agreement  whereupon  any  portion of the
     Minimum  Rent  Reserve  then  remaining  and any  unapplied  balance of the
     Security  Deposit and shall be refunded to Tenant and Tenant may pursue its
     damages, if any, available at law or in equity for such breach.

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                                   ARTICLE 13

                                  HOLDING OVER
                                  ------------

     If Tenant or any other  person or party shall remain in  possession  of the
Leased  Property or any part thereof  following  the  expiration  of the Term or
earlier  termination of this Agreement  without an agreement in writing  between
Landlord  and Tenant with  respect  thereto,  the person or party  remaining  in
possession  shall be deemed to be a tenant at  sufferance,  and  during any such
holdover,  the Rent payable  under this  Agreement by such tenant at  sufferance
shall be double the rate or rates in effect  immediately prior to the expiration
of the Term or earlier  termination  of this  Agreement.  In no event,  however,
shall such holding over be deemed or construed to be or  constitute a renewal or
extension of this Agreement.

                                   ARTICLE 14

                     LIABILITY OF LANDLORD; INDEMNIFICATION
                     --------------------------------------

     14.1 Liability of Landlord. Landlord and its Affiliates shall not be liable
to Tenant,  its employees,  agents,  invitees,  licensees,  customers,  clients,
family members or guests for any damage,  injury,  loss,  compensation or claim,
including,  but  not  limited  to,  claims  for the  interruption  of or loss to
Tenant's  business,  based  on,  arising  out of or  resulting  from  any  cause
whatsoever  (other than  Landlord's  gross  negligence or willful  misconduct or
Landlord's breach of this Agreement), including, but not limited to: (a) repairs
to any portion of the Leased  Property;  (b) interruption in Tenant's use of the
Leased Property;  (c) any accident or damage resulting from the use or operation
(by Landlord, Tenant or any other person or persons) of any equipment within the
Leased Property,  including without limitation,  heating, cooling, electrical or
plumbing equipment or apparatus; (d) the termination of this Agreement by reason
of the condemnation or destruction of the Leased Property in accordance with the
provisions  of  this  Agreement;   (e)  any  fire,  robbery,  theft,  mysterious
disappearance or other casualty; (f) the actions of any other person or persons;
and (g) any  leakage  or  seepage  in or from any part or  portion of the Leased
Property, whether from water, rain or other precipitation that may leak into, or
flow from, any part of the Leased  Property,  or from drains,  pipes or plumbing
fixtures in the Leased  Improvements.  Any goods,  property or personal  effects
stored or placed by the Tenant or its employees in or about the Leased  Property
including Tenant's Personal Property, shall be at the sole risk of the Tenant.

     14.2 Notice of Claim or Suit.  Tenant shall promptly notify Landlord of any
claim,  action,  proceeding or suit  instituted or threatened  against Tenant or
Landlord of which Tenant receives notice or of which Tenant acquires  knowledge.
In the event  Landlord is made a party to any action for damages or other relief
against which Tenant has indemnified Landlord, as aforesaid, Tenant shall at its
own expense using counsel  reasonably  approved by Landlord,  diligently  defend
Landlord,  pay all  costs in such  litigation  or,  at  Landlord's  option,  and
expense,  Landlord may nonetheless engage its own counsel in connection with its
own  defense or  settlement  of said  litigation  in which  event  Tenant  shall
cooperate with Landlord and make available to Landlord all  information and data
which Landlord deems necessary or desirable for such defense.

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<PAGE>

     14.3  Limitation  on  Liability of Landlord.  Provided,  Landlord  does not
encumber the Leased Property with a Prohibited Mortgage as referenced in Section
20 hereof,  in the event Tenant is awarded a money  judgment  against  Landlord,
Tenant's  sole  recourse for  satisfaction  of such  judgment  shall,  except as
otherwise  provided  hereinafter  in this Section 14.3 and in Section  20.2,  be
limited to execution  against the  Landlord's  interest in the Leased  Property,
including the Minimum Rent Reserve, the Security Deposit and the Reserve and any
proceeds from the disposition  thereof.  Further, in no event shall any partner,
member, officer, director, stockholder or shareholder of Landlord or any partner
thereof or Affiliated Person or Subsidiary thereof, be personally liable for the
obligations of Landlord hereunder. Provided, however, in the event that Landlord
shall sell,  transfer or dispose of the Leased Property,  the Security  Deposit,
Minimum Rent Reserve or the Reserve,  at a time when Tenant has a money judgment
against  Landlord  (or has so  notified  Landlord  of a claim by Tenant  against
Landlord  hereunder  which may give rise to a money judgment) and shall disburse
the  proceeds of such sale,  transfer or  disposition  to any  partner,  member,
officer, director, stockholder or shareholder of Landlord or any partner thereof
or Affiliated Person or Subsidiary thereof,  Landlord shall be personally liable
to the extent of the proceeds so disbursed to any of such parties.

                                   ARTICLE 15

                                REIT REQUIREMENTS
                                -----------------

     Tenant  understands that, in order for Landlord to qualify as a real estate
investment  trust (a "REIT") under the Internal Revenue Code of 1986, as amended
(the "Code"),  certain requirements (the "REIT Requirements") must be satisfied.
The parties  intend that amounts to be paid by Tenant  hereunder and received or
accrued, directly or indirectly, by Landlord with respect to the Leased Property
(including  any rents  attributable  to  personal  property  that is leased with
respect thereto) will qualify as "rents from real property"  (within the meaning
of Code Section  856(d).  Further,  neither party will take any action or suffer
any  condition  to exist that would cause any amount  received  by the  Landlord
under this  Agreement to fail to qualify as such.  Consistent  with this intent,
the parties agree that:

     15.1 "Rents  attributable  to any personal  property"  leased to the Tenant
cannot  exceed  fifteen  percent  (15%) of the total Rent received or accrued by
Landlord  under this  Agreement for any Fiscal Year of the Landlord.  Consistent
therewith,  the  average  of the  adjusted  tax bases of the  personal  property
(within the meaning set forth in Section  1.512(b)-1(c)(3)(ii) of the applicable
Treasury  Regulations)  that is leased  to Tenant  with  respect  to the  Leased
Property at the beginning and end of a Fiscal Year cannot exceed fifteen percent
(15%)  of the  average  of the  aggregate  adjusted  tax  bases  of the real and
personal property comprising such Leased Property that is leased to Tenant under
this  Agreement at the beginning and end of such Fiscal Year (the "REIT Personal
Property Limitation"). If Landlord reasonably anticipates that the REIT Personal
Property Limitation will be exceeded with respect to the Leased Property for any
Fiscal  Year,  Landlord  shall  notify  Tenant,  and  Landlord  and Tenant shall
negotiate  in good faith the  purchase by Tenant of items of  personal  property
anticipated  by  Landlord  to  be  in  excess  of  the  REIT  Personal  Property
Limitation.  Provided,  however,  that Tenant's  responsibility to purchase such
personal property will be offset by Landlord in some mutually agreeable manner.

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<PAGE>

     15.2  Tenant  cannot  sublet the Leased  Property  or any portion of it, or
enter into any similar  arrangement,  on any basis such that the rental or other
amounts paid by the sublessee thereunder would be based, in whole or in part, on
either (a) the net income or profits  derived by the business  activities of the
sublessee  or (b) any other  formula  such that any  portion of the Rent paid by
Tenant to Landlord would fail to qualify as "rent from real property" within the
meaning of Section 856(d) of the Code and regulations promulgated thereunder.

     15.3  Anything to the contrary in this  Agreement  notwithstanding,  Tenant
shall not sublease the Leased Property to, or enter into any similar arrangement
with, any person in which Landlord owns,  directly or indirectly,  a ten percent
(10%) or more interest,  within the meaning of Section 856(d)(2)(B) of the Code,
and any such  action  shall be  deemed  void ab  initio.  At  Tenant's  request,
Landlord shall disclose such persons.

     15.4 Anything to the contrary in this  Agreement  notwithstanding,  neither
party shall  take,  or permit to take,  any action that would cause  Landlord to
own,  directly or  indirectly,  a ten percent  (10%) or greater  interest in the
Tenant within the meaning of Section  856(d)(2)(B)  of the Code, and any similar
or  successor  provision  thereto,  and any such action  shall be deemed void ab
initio.

     15.5 Any services  provided by, or on behalf of,  Landlord will not prevent
any amounts  received or accrued from  qualifying as "rents from real  property"
(within the meaning of Section 856(d)(2) or Section 512(b)(3) of the Code).

                                   ARTICLE 16

 SUBLETTING AND ASSIGNMENT SALE OF LEASED PROPERTY; LANDLORD'S RIGHT TO ACQUIRE
                   LEASEHOLD INTEREST; TRANSFERS BY LANDLORD
                   -----------------------------------------

     16.1 Transfers  Prohibited  Without Consent.  Except as provided in Section
16.7 and Section  16.8  hereof,  Tenant  shall not,  without  the prior  written
consent of  Landlord,  in each  instance,  sell,  assign,  sublease or otherwise
transfer this Agreement,  or Tenant's interest in the Leased Property,  in whole
or in  part,  or any  rights  or  interest  which  Tenant  may have  under  this
Agreement.  Further, Tenant shall not grant or permit any lien or encumbrance on
or  security  interest  in Tenant's  interest  in this  Agreement  or the Leased
Property.  The  consent of  Landlord  to a sale or an  assignment,  transfer  or
subletting  shall in no event be  construed to relieve  Tenant or such  assignee
from the  obligation of obtaining the express  consent in writing of Landlord to
any further sale, assignment, transfer, or subletting. In addition: (a) any such
sale, assignment, transfer or subletting must be authorized under the Management
Agreement and (b) the proposed purchaser,  transferee, assignee, or sublessee of
all or substantially all or a material portion of the Leased Property, must be a
Single  Purpose Entity as defined on EXHIBIT "F" hereto (i) who has a verifiable
net  worth  (determined  in  accordance  with  generally   accepted   accounting
principles)  of not  less  than the Rent due and  payable  for the  Fiscal  Year
immediately  preceding such proposed sale or transfer;  (ii) who, if required by
the terms thereof, is approved by Manager under the Management Agreement;  (iii)
who has not been  convicted  of a felony  and is  known to have not  engaged  in
criminal  activity or other activity  involving moral  turpitude  (including any
Affiliate  of such  Person);  (iv) who does not, as its primary  business,  own,
lease or operate any

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<PAGE>

casino or gambling facility  (including any Affiliate of such Person or entity);
(v)  who  does  not  own  or  operate  a   distillery,   winery  or  brewery  or
distributorship of alcoholic  beverages if such leasing,  ownership or operation
might  reasonably  impair the ability of Tenant,  or its Affiliates to obtain or
retain any alcoholic beverage license for the Leased Property; (vi) who does not
own or operate a hotel or other facility proscribed in Section 4.3 hereof; (vii)
who has experience in the management of first class hotels; (viii) who shall not
be a Person in which Landlord,  directly or indirectly, owns a ten percent (10%)
or greater  interest  within the meaning of Section  856(d)(2)(B) of the Code or
any similar or successor provision thereof; and (ix) who shall be in conformance
with and shall conform and comply with the requirements of Section 15 hereof. In
addition, any such approved assignee shall expressly assume this Agreement by an
agreement in recordable form, an original executed counterpart of which shall be
delivered to Landlord prior to any assignment of the Agreement.  Any assignment,
transfer, sublease or encumbrance in violation of this Article shall be voidable
at Landlord's  option. In addition to the foregoing,  for so long as Landlord or
any  Affiliated  Person of  Landlord  shall  seek to  qualify  as a real  estate
investment  trust,   anything  contained  in  this  Agreement  to  the  contrary
notwithstanding,  Tenant  shall not sublet the Leased  Property  or any  portion
thereof on any basis such that the rental to be paid by any sublessee thereunder
would be based, in whole or in part, on either (x) the income or profits derived
by the business activities by such sublessee, or (y) any other formula such that
any portion of such  sublease  rental  would fail to qualify as "rents from real
property"  within the meaning of Section 865(d) of the Internal Revenue Code, or
any similar or successive provisions thereto.

     16.2 Indirect  Transfer  Prohibited  Without Consent.  A sale,  assignment,
pledge, transfer,  exchange or other disposition in a single transaction or in a
series of  transactions  of (a) the stock of Tenant or any  general  partner  of
Tenant or any  managing  member  interest  of Tenant  or (b) any  interest  of a
partner or partners or a member or members of Tenant  which  results in a change
or transfer of management or Control of Tenant,  or (c) a merger,  consolidation
or other  combination of Tenant with another entity which results in a change or
transfer  of  management  or Control or  effective  Control of Tenant,  shall be
deemed an assignment  hereunder and shall be subject to Section 16.1 hereof. For
purposes  hereof,  exchange or transfer of  management  or Control or  effective
Control,  shall mean a transfer  of 50% or more of the  economic  benefit of, or
Control of, any such entity.

     16.3 Adequate Assurances.  Without limiting any of the foregoing provisions
of this Article,  if, pursuant to the U.S.  Bankruptcy  Code, as the same may be
amended from time to time,  Tenant is permitted to assign or otherwise  transfer
its rights and obligations under this Agreement in disregard or violation of the
restrictions contained in this Article, the assignee shall be deemed to agree to
provide  adequate  assurance to Landlord (a) that any Percentage  Rent shall not
decline  substantially  after the date of such assignment,  (b) of the continued
use of the Leased  Property solely in accordance with the Permitted Use thereof,
(c) of the continuous operation of the business in the Leased Property in strict
accordance  with the  requirements  of  ARTICLE 4 hereof,  and (d) of such other
matters as Landlord may  reasonably  require at the time of such  assignment and
assumption. Without limiting the generality of the foregoing, adequate assurance

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<PAGE>

shall  include the  requirement  that any such  assignee  shall have a net worth
(exclusive  of good  will) of not less  than the  aggregate  of the Rent due and
payable for the previous Fiscal Year. Such assignee shall expressly  assume this
Agreement by an agreement in recordable  form, an original  counterpart of which
shall be delivered to Landlord prior to an assignment of this Agreement.

     Any approval of such successor  Tenant shall not affect or alter Landlord's
approval rights of each manager of the Leased Property.

     16.4  Change  in  Control  of  Wyndham.   Landlord  and  Tenant   expressly
acknowledge  and  agree  that  each  of  the  Acquisition   Properties  and  the
Development  Properties,  including  the  Leased  Property,  shall  and  must be
operated  as a first  class  full  service  Hotel  under  the  "Wyndham"  Brand.
Notwithstanding  anything  to the  contrary  contained  in this  Agreement,  the
parties  further  acknowledge  and  agree  that so long as  Wyndham's  stock  is
publicly traded on a national  securities exchange (including NASDAQ or over the
counter exchanges) and Tenant remains under the Control of Wyndham as a majority
owned  direct or indirect  subsidiary,  a change in the  ownership or Control of
Wyndham shall not be or constitute a transfer  prohibited  hereunder.  Provided,
however,  that a "change in control of Wyndham"  shall require the prior written
consent of Landlord  which consent may be granted or withheld by Landlord in its
sole and  absolute  discretion.  For  purposes of this  Section  16.4 "change in
control of  Wyndham"  shall mean any direct or indirect  transfer  of  ownership
(including  transfers of the kind  generally  referenced in Section 16.2 hereof)
which causes  either (a) Wyndham and the Tenant not to be under  common  Control
(unless Landlord has given consent to a Portfolio Assignment under Section 16.7)
or (b) Wyndham stock to be no longer  publicly  traded on a national  securities
exchange  (including  NASDAQ or over the counter  exchanges).  In the event of a
change in control of Wyndham to which  Landlord  has not given its  consent  (if
required  hereunder)  of this  Section  16.4,  Landlord  shall  have as its sole
remedy,  the right (x) to terminate  this Agreement and all rights and interests
of Tenant hereunder by Notice to Tenant given with six (6) months after Landlord
is  provided  written  Notice  of such  change  in  control,  and (y) upon  such
termination, to retain the Security Deposit.

     16.5 Sale of the Leased Property. Landlord and Tenant acknowledge and agree
that at any time after the fifth  anniversary of the last to be executed of this
Agreement or any of the Other Leases,  Landlord shall have the right to sell the
Leased  Property free and clear of this Agreement and the Management  Agreement,
provided that Landlord shall pay to Wyndham in cash twenty-five percent (25%) of
any net gain that Landlord  receives from the sale of the Leased Property net of
the usual and  customary  selling  expenses  paid to third parties which are not
Affiliated  Persons  of  Landlord  and  computed  against  a basis  equal to the
purchase price under the Purchase  Agreement.  Provided,  however,  Landlord may
only  exercise  the  right to sell a Leased  Property  if (a) the net  operating
income for the twenty-four (24) Accounting  Periods  preceding the sale has been
less than 1.05 times the Minimum Rent for the Leased Property to be sold and (b)
the Leased  Property is achieving  less than one hundred  percent  (100%) REVPAR
penetration  (as defined in the Uniform  System of Accounts) in its  competitive
set (or  ninety-five  percent  (95%)  REVPAR  penetration  in the  case  where a
Marriott  Hotel is in the  competitive  set)  for the  twenty-four  (24)  months
preceding the proposed  sale, as determined by an independent  third party.  Any
dispute as to whether  the  foregoing  conditions  are met shall be  resolved by
arbitration  pursuant to ARTICLE 16 hereof. In the event that Landlord elects to

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<PAGE>

sell Leased  Property as herein  contemplated,  Landlord  shall notify Tenant of
such sale and Tenant or its designee, shall have a period of thirty (30) days in
which to submit an offer to acquire  the Leased  Property  from  Landlord.  Such
offer  must  contemplate  a Closing  within  sixty (60) days of the date of such
offer. In the event that the Landlord in its sole discretion  rejects  Wyndham's
offer,  Landlord may sell the Leased Property to any other Person that is not an
Affiliate of Landlord on terms  acceptable  to Landlord in its sole  discretion.
Provided, however, the purchase price may not be less than the purchase price of
Tenant's offer, and provided further, the closing shall not occur prior to sixty
(60) days (or such longer period required by law to enable Tenant and Manager to
comply with Applicable Laws concerning the termination of employment and related
issues, including the WARN Act and COBRA) following the acceptance of such third
party offer and notice thereof to Tenant.

     16.6 Landlord's  Right to Acquire the Leasehold  Interest.  Notwithstanding
anything herein or in the Other Leases to the contrary,  Landlord shall have the
right,  to be exercised,  if at all, at any time during the first five (5) years
of the Term hereof,  upon sixty (60) days prior Notice to Tenant, to (a) require
Tenant to transfer its entire leasehold estate in one or more of the Acquisition
Properties and the Development  Properties,  including the Leased Property, to a
subsidiary of Landlord and to require Wyndham to join in and consent to any such
transfer or (b) to require Wyndham to transfer its entire interest in the Tenant
to a subsidiary of Landlord.  In  consideration of either of the above transfers
of interest,  Landlord shall pay to Tenant the fair market value of the Tenant's
leasehold estate as of the date of Landlord's  Notice to Tenant,  which shall be
deemed to be the net present value of the projected  annual  Tenant's  Operating
Income (as hereinafter defined) for the next succeeding twenty (20) years of the
Term  (assuming,  for the purposes  hereof,  the exercise of renewal  options to
extend the Term out for such 20 years) (the "Fair Market Value"). If the parties
cannot  agree to the Fair Market Value within ten (10) days of receipt by Tenant
of  Landlord's  Notice  hereunder,  then the Landlord  may retain at  Landlord's
expense an  independent  appraiser to determine  the Fair Market  Value.  If the
Tenant disagrees with the determination of the Landlord's appraiser, then Tenant
may retain  within ten (10) days  following  receipt by Tenant of Notice of such
determination,   at  Tenant's  expense,  a  separate  independent  appraiser  to
determine  the  Fair  Market  Value.   If  the  Landlord   disagrees   with  the
determination  of the  Tenant's  appraiser,  the  Landlord's  and  the  Tenant's
appraiser  shall  mutually  select  a  third  independent  appraiser  with  like
qualifications  to  determine  the Fair  Market  Value  (the cost of such  third
appraise shall be split between the Landlord and Tenant).  If either Landlord or
Tenant disagrees with the determination of the third appraiser,  the Fair Market
Value  shall be  resolved  by  taking  the  average  determination  of all three
appraisers; provided, however, the computation of such average shall not include
any  determination  by an appraiser  that is greater or lesser than five percent
(5%) from the  "middle"  determination  falling  between  the highest and lowest
determinations. If both the highest and lowest determinations are more than five
percent  (5%)  greater  or  lesser  than,   as  the  case  may  be,  the  middle
determination,  both  such  determinations  shall  be  excluded  and the  middle
determination  shall be the  determination  used by the  parties to resolve  the
dispute.  If Landlord does not agree with the Fair Market  Value,  Landlord will
have no obligation to acquire the Tenant's leasehold  interest,  notwithstanding
delivery of Notice to such effect  hereunder,  but if Landlord  elects not to so
acquire Tenant's leasehold interest, Landlord will reimburse Tenant for the fees
and expenses of Tenant's appraiser, if any. As used herein,  "Tenant's Operating
Income"  shall equal for any Fiscal Year,  Total Hotel Sales less the sum of (a)
Property  Expenses  (adjusted to reflect all fees payable  under the  Management
Agreement including base fees, trade name fees and incentive fees), and (b) Rent
payable to the  Landlord.  In the event this  Agreement  is  transferred  to the
Landlord pursuant to this Section 16.6,  Landlord will take an assignment of the

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Management Agreement previously approved by Landlord and then in effect,  return
the  Security  Deposit and Minimum  Rent  Reserve  (if  applicable)  to Wyndham,
release Wyndham of any of its obligations or responsibilities under its Guaranty
and release Tenant of any and all further obligations hereunder.

     16.7 Portfolio  Assignment.  Notwithstanding  anything contained in Section
16.1 hereof to the  contrary,  at any time,  commencing  with the  expiration or
earlier  termination of the Guaranty but not prior  thereto,  and subject to and
contingent upon Manager being the Manager as hereafter referenced,  Tenant shall
have the right to collectively  transfer this Agreement and the Other Leases but
not less than all of such Leases to a Portfolio Assignee pursuant to a Portfolio
Assignment.  A Portfolio  Assignment shall operate to release Tenant from all of
Tenant's  obligations  to Landlord which accrue or arise from and after the date
of such  assignment  under  this  Agreement  and  the  Other  Leases  so long as
Portfolio  Assignee expressly assumes such obligations of Tenant by an agreement
in recordable form approved by Landlord, which approval will not be unreasonably
withheld, and an original executed counterpart of which is delivered to Landlord
prior to the Portfolio Assignment.  Tenant shall not make a Portfolio Assignment
without the prior written consent of Landlord;  provided that Landlord shall not
withhold its consent to a Portfolio  Assignment  that meets all of the following
conditions at the time of the proposed  Portfolio  Assignment:  (a) the Guaranty
shall no longer be in effect,  (b) the  Portfolio  Assignee  shall  satisfy  the
criteria set forth in clauses (i) and (iii) through (ix), inclusive,  of Section
16.1(b),  (c) Manager shall be the manager and the  Management  Agreement  shall
contain  no less  economically  favorable  terms  to  Tenant  than  the  current
Management  Agreement,  and (d) the brand name under  which the Hotels  shall be
operated  shall be the  "Wyndham"  brand.  Any disputes as to whether any of the
foregoing  conditions  are satisfied or otherwise with respect to the Landlord's
consent to the Portfolio Assignment shall be resolved by arbitration pursuant to
ARTICLE 19 hereof.

     16.8 Permitted Sublease. Notwithstanding the foregoing, Tenant may, in each
instance  after  notice to  Landlord,  sublease  or license  space at the Leased
Property for a newsstand, gift shop, cell phone antennas, parking garage, health
club,  bar or commissary  purposes or similar  concessions in furtherance of the
Permitted  Use so long as such  subleases  or  licenses  do not  demise,  in the
aggregate,  in excess of one thousand  (1,000) square feet, will not violate any
Legal Requirements or Insurance Requirements,  and Tenant shall provide or cause
to be provided such additional  insurance coverage  applicable to the activities
to be  conducted  in such  subleased  space as Landlord  and any  Mortgagee  may
reasonably require.

     16.9  Transfers  by  Landlord.  Landlord  agrees that  Landlord  shall not,
without  the prior  written  consent  of Tenant,  transfer  or convey the Leased
Property  to any  Person  which  (a) is not a Person  in which  Landlord  or any
Affiliated  Person  of  Landlord  owns and  holds,  directly  or  indirectly,  a
Controlling interest and does not have sufficient financial resources to fulfill
Landlord's obligations hereunder; (b) has been convicted of a felony or is known
to have  engaged  in  criminal  activity  or other  activities  involving  moral
turpitude  (including any Affiliate of such Person); (c) as its primary business
owns,  leases  or  operates  any  casino or  gambling  facility  (including  any
Affiliate of such  Person);  (d) does not recognize  Tenant's  rights and assume
Landlord's obligations under this Agreement;  (e) owns or has an equity interest
in a hotel brand,  trade name, system or chain which consists of at least twenty
(20)  hotels  prior to, or on the date of, or  contemporaneously  with,  or as a
result  of the  transfer  of the  Leased  Property  or (f)  owns or  operates  a

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distillery,  winery, or brewery or  distributorship of alcoholic  beverages,  if
such  leasing,  ownership or operation  might  reasonably  impair the ability of
Tenant or its Affiliates to obtain or retain any alcoholic  beverage license for
the Leased Property.  Notwithstanding anything contained herein to the contrary,
Landlord  shall  not be  relieved  of its  obligations  hereunder  in the  event
Landlord  transfers or conveys the Leased  Property to an Affiliate of Landlord.
For  purposes of this  ARTICLE 16, a Person that is  described  in  subparagraph
(a-f) above is referred to as a "Competitor". For purposes of this Section 16.9,
a Person that owns and has equity interest in a hotel brand,  trade name, system
or chain merely as a franchisee or a mere passive investor and has no control or
influence  over the  business  of the  brand at  issue,  such as a mere  limited
partner in a partnership, a mere shareholder in a corporation or a mere payee of
royalties  based  on a prior  sale  transaction,  shall  not be  deemed  to be a
Competitor.  In addition,  for purposes of this Section 16.9, a Person shall not
be deemed to be a Competitor  under subparagph (e) above solely by virtue of (x)
the ownership of hotels,  either directly or indirectly  through a Subsidiary or
Affiliated  Person or (y) holding a Mortgage or Mortgages secured by one or more
hotels.  Otherwise,  Landlord may transfer the Leased  Property,  or any portion
thereof or interest therein,  to any Person without the consent of, but upon not
less  than  sixty  (60) days  prior  Notice  to,  Tenant.  Within  five (5) days
following  any  request by  Tenant,  Landlord  shall  provided  Tenant  such any
information   concerning   the  proposed   transferee's   financial   condition,
affiliations,   ownership,  business  interests,  and  operations  that  may  be
reasonably  necessary  or  appropriate  in order for Tenant to determine if such
proposed transfer is consistent with the above provisions. The consent of Tenant
to a transfer  as  required  herein  shall in no event be  construed  to relieve
Landlord  from the  obligation  of obtaining  the express  consent in writing of
Tenant to any subsequent transfer requiring Tenant's consent as provided herein.
In the event that  Landlord  transfers  or conveys  the Leased  Property  to any
Person in  violation  of this  Section  16.9,  Tenant  shall have the right upon
thirty (30) days prior notice to the Landlord, given within six (6) months after
such transfer or conveyance,  to terminate this Lease and to pursue its damages,
if any,  available at law or in equity for such breach against  Landlord and the
transferee.  If Tenant  does not provide  such notice  within said six (6) month
period,  Tenant's right to terminate as provided in the preceding sentence shall
be waived with respect to the transfer or conveyance giving rise to such right.

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<PAGE>

     16.10   Transfers  of  Interests  in  Landlord.   Landlord  agrees  that  a
Controlling  interest in Landlord  shall not be sold,  assigned,  transferred or
otherwise  disposed of, for value or  otherwise,  voluntary or  involuntary,  by
merger,  operation of law or otherwise,  in a single  transaction or a series of
transactions,  to any  Person  (other  than a  Person  in which  Landlord  or an
Affiliated  Person  of  Landlord  owns and  holds,  directly  or  indirectly,  a
Controlling  interest)  that  is a  Competitor.  If a  Controlling  interest  in
Landlord is sold, assigned, transferred or otherwise disposed of in violation of
the foregoing sentence,  Tenant shall have the right upon thirty (30) days prior
Notice to  Landlord,  given  within  six (6)  months  after  such  transfer,  to
terminate  this Lease and to  recover  from  Landlord  as its  damages  for such
breach,  the sum of  $917,650.00.  Provided,  however,  the  provisions  of this
Section  16.10 shall not apply to any transfer of interests in CHP,  directly or
indirectly,  or in  any  Entity  that  has  an  interest  in  CHP,  directly  or
indirectly,  so long as CHP is a publicly  traded  company  (whether or not such
interests are traded on a public stock  exchange),  nor shall the  provisions of
this Section  16.10 apply to any transfer of interests in Landlord,  directly or
indirectly  (or in any Entity  that has an  interest  in  Landlord,  directly or
indirectly), to any Person which is not an Affiliated Person of Landlord or CHP,
if and so  long  as  CHP is a  publicly  traded  company  (whether  or not  such
interests  are traded on a public stock  exchange)  and such  transfer  does not
result in or entail, directly or indirectly, either concurrent with the transfer
or  subsequent  thereto,  CHP or a  wholly-owned  Subsidiary  of  CHP no  longer
continuing to possess the sole power,  as the sole general  partner of Landlord,
to direct or cause the  direction  of the  management  and policies of Landlord,
whether such cessation of power occurs by contract, by conversion of the general
partner interest of CHP or its wholly-owned  Subsidiary in Landlord to a limited
partner interest, by conversion of Landlord to a corporation or other Entity, or
otherwise.  Provided, further, however, if the Leased Property is transferred to
an  Affiliate  of Landlord  and such  Affiliate  sells,  assigns,  transfers  or
otherwise disposes of a Controlling  interest in such Affiliate to a Competitor,
the same shall be deemed to be a sale,  assignment,  transfer or disposition for
which Tenant's written consent is required under Section 16.9.

                                   ARTICLE 17

                 ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS
                 ----------------------------------------------

     17.1 Estoppel  Certificates.  Tenant and Landlord  shall from time to time,
within fifteen (15) days after request by the other party,  and without  charge,
give an Estoppel  Certificate in the form (or  substantially  the form) attached
hereto as EXHIBIT "C" and  containing  such other  matters as may be  reasonably
requested  by the other party to any person,  firm or  corporation  specified by
such other party.

     17.2 Financial  Statements.  Throughout the Term of this Agreement,  Tenant
shall prepare and deliver to Landlord and  Mortgagee,  at or prior to the end of
each Accounting  Period during the Term hereof,  a profit and loss statement and
operating  balance  sheet  showing  the results of the  operation  of the Leased
Property for the immediately preceding Accounting Period and for the Fiscal Year
to date.  Tenant shall provide Landlord and Mortgagee with a complete  financial
statement  which  shall be  delivered  prior  to the end of the  next  following
Accounting Period, in the form customarily provided in the industry and approved

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<PAGE>

in advance by the  Landlord,  and which  shall:  (a) be taken from the books and
records  maintained by Tenant and its manager in the form specified herein;  (b)
follow the general  form set forth in the Uniform  System of  Accounts;  and (c)
indicate variances from budgeted results for each line item against the approved
budget for the Leased  Property for such Fiscal Year.  The aforesaid  profit and
loss  statement,  operating  balance  sheet and  financial  statements  shall be
accompanied by an Officer's  Certificate which, for purposes hereof shall mean a
Certificate  of any  Officer  of  Tenant  (or  such  Officer's  designee),  duly
authorized,  which such Officer shall certify (a) that such statements have been
properly  prepared in  accordance  with the Uniform  System of Accounts  and are
true,  correct and  complete in all  material  respects  and fairly  present the
consolidated  financial  condition of the Tenant at and as of the dates  thereof
and the results of its operations for the period covered  thereby,  and (b) that
no Event of Default has  occurred  and is  continuing  hereunder.  Tenant  shall
deliver to Landlord and Mortgagee  within ninety (90) days after the end of each
Fiscal Year, a profit and loss  statement,  balance  sheet and statement of cash
flow  certified by an  independent  certified  public  account,  with a Big Five
Accounting Firm who is actively engaged in the practice of his profession (which
statement  shall also be certified by an officer or partner in Tenant)  together
with copies of all reports and  communications  furnished  to Tenant's  manager,
showing  results from the  operation of the Leased  Property  during such Fiscal
Year,  and reasons for material  variations  from the  approved  budget for such
year.  Tenant shall also deliver to Landlord at  Landlord's  expense at any time
and from time to time, upon not less than twenty (20) days notice from Landlord,
any financial statements or other financial reporting information required to be
filed by Landlord with the SEC or any other  governmental  authority or required
pursuant to any order issued by any court,  governmental authority or arbitrator
in any  litigation  to which  Landlord  is a party for  purposes  of  compliance
therewith.  Any  disputes  concerning  the  contents of such  statements  or any
accounting  matter  thereunder  shall be determined by the approved  independent
certified  public account  providing such  statement.  The financial  statements
required  herein are in addition to the statement  required  under Section 3.1.3
hereof.

     17.3  Records.  Tenant shall keep and  maintain at all times in  accordance
with generally accepted accounting  principles,  consistently  applied,  and the
Uniform System of Accounts (separate and apart from its other books, records and
accounts) complete and accurate up-to-date books and records adequate to reflect
clearly and correctly the results of  operations of the Leased  Property,  on an
accrual  basis,  including  but not limited to, each  calculation  of Percentage
Rent. Such books and records shall be kept and maintained at the Leased Property
or Tenant's principal or regional office.  Landlord or its representatives shall
have, at all reasonable times during normal business hours,  reasonable  access,
on reasonable  advance notice,  to examine and copy the books and records.  Such
books and  records  shall be  available  for at least  three (3) years after the
applicable quarterly  calculation of Percentage Rent for Landlord's  inspection,
copying, review and audit at Landlord's expense during reasonable business hours
and for the  purpose of  verifying  the  accuracy  of  Tenant's  calculation  of
Percentage Rent.

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<PAGE>

     17.4  General  Operations.  In  addition to the  Reserve  Estimate  and the
Building Estimate,  Tenant shall furnish to Landlord, on or before December 1 of
each Fiscal Year  proposed  annual  budgets in a form  consistent  with the then
standards  for the same  brand of hotels as the Hotel  setting  forth  projected
income and costs and  expenses  projected  to be incurred by Tenant in managing,
leasing, maintaining and operating the Hotel during the following Fiscal Year.

     17.5  Quarterly  Meetings.  At  Landlord's  request,  Tenant shall make the
Tenant's  property  management team available to meet with Landlord at the Hotel
or Tenant's  principal  place of  business  on a quarterly  basis to discuss the
Reserve Estimate,  the Building Estimate, the annual budgets and any other items
related to the operation of the Hotel which Landlord  wishes to discuss.  Tenant
agrees to give good faith  consideration  to any  suggestions  or requests  that
Landlord may have.

                                   ARTICLE 18

                           LANDLORD'S RIGHT TO INSPECT
                          ---------------------------

     Landlord, Mortgagee and their agents shall have the right to enter upon the
Leased Property or any portion thereof at any reasonable time upon not less than
twenty  four  hours  prior  telephonic  notice to Tenant  to  inspect  the same,
including but not limited to, the operation, sanitation, safety, maintenance and
use of the same, or any portions of the same and to assure itself that Tenant is
in full compliance  with its obligations  under this Agreement (but Landlord and
Mortgagee shall not thereby assume any responsibility for the performance of any
of Tenant's obligations  hereunder,  nor any liability arising from the improper
performance  thereof).  In making any such  inspections,  neither  Landlord  nor
Mortgagee  shall  unduly  interrupt  or  interfere  with the conduct of Tenant's
business.

                                   ARTICLE 19

                         ALTERNATIVE DISPUTE RESOLUTION
                         ------------------------------

     19.1 Negotiation.  Any and all disputes or disagreements to which the terms
of  Section  22.19  are  applicable  and any other  matters  to be  resolved  by
arbitration  as  expressly  provided  for in this  Agreement,  shall be resolved
through  good-faith  negotiations  or, at the election of either  party,  if the
dispute  is not so  resolved  within 30 days  after  Notice  from  either  party
commencing  such  negotiations,   through  binding   arbitration   conducted  in
accordance with Section 19.2.

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<PAGE>

     19.2  Arbitration.  With  respect  to any such  matter to be  submitted  to
arbitration,  Landlord and Tenant shall  mutually  designate  and select any Big
Five Accounting Firm with a hospitality division of which Landlord, Tenant or an
Affiliated  Person  of either  is not a client  to serve as  arbitrator  of such
dispute,  within  fifteen  (15) days after  written  demand for  arbitration  is
received or sent by Landlord.  In the event no nationally  recognized accounting
firm  satisfying  such  qualifications  is  designated by Landlord and Tenant or
available and willing to serve as arbitrator,  the arbitrator shall be appointed
by the American Arbitration  Association from among the members of its panel who
are qualified and who have  experience in resolving  matters of a nature similar
to the matter to be resolved by  arbitration.  In any event a single  arbitrator
shall be designated  and shall resolve the dispute.  The  arbitrator's  decision
shall be binding on all  parties  and shall not be subject to further  review or
appeal  except as otherwise  allowed by  applicable  law. Upon failure of either
party  to  comply  with  the  arbitrator's  decision,  the  arbitrator  shall be
empowered  at the  request of the other  party to order such  compliance  by the
non-complying  party and to  supervise  or arrange  for the  supervision  of the
non-complying party to comply with the arbitrator's decision, all at the expense
of the non-complying  party. To the maximum extent possible,  the arbitrator and
the parties, and the American Arbitration Association, if applicable, shall take
any action  necessary to ensure that the arbitration  shall be concluded  within
ninety (90) days following such dispute. The fees and expenses of the arbitrator
shall be shared equally by the Landlord and the Tenant.  Unless otherwise agreed
to in writing by the  parties or  required  by the  arbitrator  or the  American
Arbitration Association, if applicable,  arbitration proceedings hereunder shall
be conducted in the state where the Leased Property is located.  Notwithstanding
formal  rules of  evidence,  each party may submit  such  evidence as each party
deems  appropriate to support its position and the arbitrator  shall have access
to and the right to  examine  all books  and  records  of  Landlord  and  Tenant
regarding the Leased Property during such arbitration.

                                   ARTICLE 20

                                 HOTEL MORTGAGES

     20.1  Subordination.   This  Agreement,  Tenant's  interest  hereunder  and
Tenant's  leasehold  interest in and to the Leased  Property are, and are hereby
agreed by Tenant to be, and are  hereby  made,  and shall be  junior,  inferior,
subordinate and subject in right, title, interest,  lien, encumbrance,  priority
and all other  respects to any  mortgage or  mortgages  and  security  interests
(other than a Prohibited Mortgage), now or hereafter in force and effect upon or
encumbering the Leased Property,  or any portion thereof,  and to all collateral
assignments  by  Landlord  to any third  party or parties  of any of  Landlord's
rights  under  this  Agreement  or the  rents,  issues  and  profits  thereof or
therefrom as security for any  liability or  indebtedness,  direct,  indirect or
contingent,  of  Landlord  to such  third  party or  parties,  and to all future
modifications, extensions, renewals, consolidations and replacements of, and all
amendments and supplements to, any such mortgage,  mortgages or assignments, and
upon recording of any such mortgage, mortgages or assignments, the same shall be
deemed to be prior in dignity, lien and encumbrance to this Agreement,  Tenant's
interest hereunder and Tenant's leasehold interest in and to the Leased Property
irrespective  of the dates of  execution,  delivery or  recordation  of any such
mortgage,  mortgages  or  assignments  (such  mortgages,   mortgages,   security
interests,   assignments,   modifications,   extensions,  renewals,  amendments,
supplements and replacement

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<PAGE>

(but not a Prohibited  Mortgage) being a "Hotel Mortgage").  Provided,  however,
Tenant shall have first  received  from the Mortgagee a  Subordination  and Non-
Disturbance  Agreement in recordable form (a  "Non-Disturbance  Agreement"),  in
form and content  reasonably  acceptable  to Landlord,  Tenant and the holder or
such Hotel Mortgage (the "Mortgagee"),  which shall be executed by Mortgagee and
Tenant,  which provides that  notwithstanding any default by Landlord under such
Hotel Mortgage or any foreclosure  thereof,  and provided an Event of Default on
the part of Tenant is not then in existence and continuing,  Tenant's possession
of the Leased Property and rights and obligations under this Agreement shall not
be affected by such Hotel  Mortgage or by such default or  foreclosure  and this
Agreement shall not be terminated other than in accordance with its terms.  This
Section shall be  self-operational  after  delivery and  recordation of the Non-
Disturbance  Agreement  and no further  instruments  of  subordination  shall be
required. If any Mortgagee or nominee or designee of any Mortgagee shall succeed
to the rights of Landlord  under this  Agreement  (any such person a  "Successor
Landlord"),  whether through  possession or foreclosure  action or delivery of a
new  lease or deed,  or  otherwise,  such  Successor  Landlord  shall  recognize
Tenant's  rights under this  Agreement as herein  provided and subject to and in
accordance with Section 20.2, Tenant shall attorn to and recognize the Successor
Landlord as Tenant's  Landlord  under this  Agreement and Tenant shall  promptly
execute and deliver any instrument  that such Successor  Landlord may reasonably
request to evidence  such  attornment  as  contemplated  in Section  20.2 hereof
(provided  that such  instrument  does not  alter the terms of this  Agreement),
whereupon  this  Agreement  shall  continue in full force and effect as a direct
lease  between  the  Successor  Landlord  and  Tenant  upon  all of  the  terms,
conditions  and  covenants  as are set forth in this  Agreement.  The  foregoing
Agreement shall be binding on any Successor Landlord.

     Provided,  however, Landlord shall not enter into a Hotel Mortgage with any
Mortgagee that is not an Institutional  Lender and the aggregate sum of all debt
secured by Hotel  Mortgage(s)  will not exceed seventy percent (70%) of the fair
market value of the Leased  Property as determined at the time of such loan (and
any Hotel  Mortgage(s)  which does not meet the  foregoing  criteria  shall be a
"Prohibited Mortgage").  Tenant acknowledges and agrees that notwithstanding the
foregoing automatic  subordination,  if Landlord or Mortgagee shall request that
Tenant execute and deliver any further  instrument or agreement of subordination
of this Agreement or Tenant's interest  hereunder or Tenant's leasehold interest
in  the  Leased  Property  to  any  such  Hotel  Mortgage,  in  confirmation  or
furtherance of or in addition to the foregoing subordination  provisions of this
Section,  Tenant shall  promptly  execute and deliver the same to the requesting
party if  reasonably  acceptable  to  Tenant  and the same  does not  alter  any
provisions of this Agreement.  Further, Tenant agrees that it will, from time to
time,  execute  such  documentation  as may be  requested  by  Landlord  and any
Mortgagee  (a)  to  assist  Landlord  and  such  Mortgagee  in  establishing  or
perfecting any security  interest in Landlord's  interest in the Reserve and the
funds  therein;  and (b) to facilitate or allow  Landlord to encumber the Leased
Property as herein contemplated.  If, within thirty (30) days following Tenant's
receipt of a written request by Landlord or the holder or proposed holder of any
such Hotel Mortgage,  Tenant shall wrongfully fail or refuse or shall wrongfully
have not  executed any such further  instrument  or agreement of  subordination,
Tenant  shall be in breach and  default of its  obligation  to do so and of this
Agreement  and  Landlord  shall be entitled  thereupon  to exercise  any and all
remedies  available to Landlord pursuant to this Agreement or otherwise provided
by law.

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<PAGE>

     20.2  Attornment.  Except as  hereinafter  provided in this  Section  20.2,
Tenant shall and hereby  agrees to attorn,  and be bound under all of the terms,
provisions,  covenants  and  conditions  of  this  Agreement,  to any  Successor
Landlord  under this  Agreement  for the  balance of the Term of this  Agreement
remaining  at the time of the  succession  of such  interest  to such  Successor
Landlord.  In particular,  in the event that any proceedings are brought for the
foreclosure of any Hotel  Mortgage,  Tenant shall attorn to the purchaser at any
such foreclosure sale and recognize such purchaser as a Successor Landlord under
this Agreement. Tenant agrees that neither the purchaser at any such foreclosure
sale nor the foreclosing  Mortgagee (other than a Mortgagee that is an Affiliate
of Landlord)  shall (a) have any  liability  for any act or omission of Landlord
occurring or arising prior to the earlier of the date of the foreclosure sale or
the  date  such  Mortgagee  takes  possession  of the  Leased  Property,  (b) be
responsible for any monies owing by or on deposit with any prior Landlord to the
credit of  Tenant  (except  to the  extent  actually  paid or  delivered  to the
Successor  Landlord),  (c) be subject to any  counterclaim,  offsets or defenses
which Tenant may have as a claim against Landlord  occurring or arising prior to
the  earlier of the date of the  foreclosure  sale or the date  Mortgagee  takes
possession  of the Leased  Property,  or (d) be bound by any advance rents which
may have been paid by Tenant to  Landlord  for more than the  current  period in
which  such  rents  come  due;  provided,   however,  that  notwithstanding  the
provisions of Section 14.3 hereof,  the Landlord shall be personally  liable and
responsible  to Tenant for the matters set forth in (a) through (d) above to the
extent such purchaser at any foreclosure  sale or the  foreclosing  Mortgagee is
not liable or  responsible  for,  bound by, or  subject  to any such  matters as
provided in this sentence.  The Tenant's obligation and agreement to attorn to a
Successor  Landlord as  provided  herein  shall exist so long as such  Successor
Landlord  (w)  recognizes  Tenant's  rights under this  Agreement,  (x) is not a
Person  which is an  Affiliated  Person  of  Tenant,  (y) is not a Person  or an
Affiliated  Person of a Person  which owns or has an equity  interest in a hotel
brand,  trade name,  system or chain which is  comprised of at least twenty (20)
hotels and (z) shall have sufficient  financial  resources to fulfill Landlord's
obligations hereunder.  Provided,  however, a Person that owns and has an equity
interest in a hotel brand, trade name, system or chain merely as a franchisee or
a mere passive  investor  that has no control or influence  over the business of
the brand at issue,  such as a mere  limited  partner in a  partnership,  a mere
shareholder in a corporation or a mere payee of royalties  based on a prior sale
transaction, may be a Successor Landlord. In the event Tenant is not required to
attorn to a Successor  Landlord as provided  herein,  Tenant may terminate  this
Agreement and pursue damages against such Successor Landlord.

     20.3 Rights of Mortgagees and  Assignees.  At the time of giving any notice
of default to Landlord, Tenant shall mail or deliver to any Mortgagee, a copy of
any such  default  notice in  accordance  with the terms of the  Non-Disturbance
Agreement. No notice of default or termination of this Agreement by Tenant shall
be  effective  until each  Mortgagee  shall have been  furnished  a copy of such
notice by Tenant.  In the event  Landlord  fails to cure any default by it under
this Agreement, the Mortgagee shall have, at its option, a period of thirty (30)
days after expiration of any cure period of Landlord within which to remedy such
default of  Landlord  or to cause such  default to be  remedied  (including  any
interest owed thereon by  Landlord.)  In the event that the Mortgagee  elects to
cure any such default by Landlord,  then Tenant shall accept such performance on
the part of such  Mortgagee  as though the same had been  performed by Landlord,
and for such purpose  Tenant hereby  authorizes  any Mortgagee to enter upon the
Leased  Property to the extent  necessary to exercise any of Landlord's  rights,
powers and duties  under this  Agreement.  If, in the event of any  non-monetary
default by Landlord  which is reasonably  capable of being cured by a Mortgagee,
the Mortgagee  promptly  commences and  diligently  pursues to cure the default,
then Tenant will not  terminate  this  Agreement  or cease to perform any of its
obligations  under  this  Agreement  so  long  as the  Mortgagee  is,  with  due
diligence, engaged in the curing of such default.

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<PAGE>

                                   ARTICLE 21

                         ADDITIONAL COVENANTS OF TENANT
                         ------------------------------

     21.1  Conduct of Business.  Tenant  shall not engage in any business  other
than the leasing and operation of the Leased Property and activities  incidental
thereto and shall do or cause to be done all things necessary to preserve, renew
and keep in full force and effect and in good standing its  corporate  existence
and its rights and licenses necessary to conduct such business.

     21.2 Additional Covenants of Tenant. In addition to the other covenants and
representations of Tenant herein and in this Agreement, Tenant hereby covenants,
acknowledges  and agrees that Tenant shall:

          (a) Not guaranty any obligation of any Person;

          (b) Pay or  cause to be paid  prior to  delinquency  (and  subject  to
          Tenant's right to contest), all lawful claims for labor and rents with
          respect to the Leased Property;

          (c) Pay or  cause to be paid  prior to  delinquency  (and  subject  to
          Tenant's  right to  contest),  all trade  payables;

          (d) So long as an Event of Default exists, not declare,  order, pay or
          make, directly or indirectly, any distributions or any payments to any
          members or Affiliated Persons as to Tenant,  including payments in the
          ordinary  course of business  and  payments  pursuant to a  Management
          Agreement with any Affiliate except for reimbursable expenses incurred
          by and  payable to such  Affiliate  Manager  in order to  operate  the
          Leased  Property  (but  such  reimbursable  expenses  shall  expressly
          exclude any management fees, base incentive or otherwise);

          (e) Except as otherwise  permitted by this Agreement,  not sell, lease
          (as lessor or sublessor), transfer or otherwise dispose of or abandon,
          all or any  material  portion of its assets or business to any Person,
          or sell,  lease,  transfer or  otherwise  dispose of or abandon any of
          Tenant's Personal Property,  provided,  however, Tenant may dispose of
          portions of Tenant's Personal  Property which have become  inadequate,
          obsolete, worn-out, unsuitable,  undesirable or unnecessary,  provided
          substitute  equipment  or  fixtures  owned by Tenant  having  equal or
          greater  value and utility  have been  provided if the same are deemed
          necessary to the proper  operation of the Hotel in Tenant's good faith
          business judgment.

                                       75
<PAGE>

          (f)  Except  for  liabilities  incurred  in  the  ordinary  course  of
          business,  not create, incur, assume or guarantee,  or permit to exist
          or  become  or  remain  liable   directly  or  indirectly   upon,  any
          Indebtedness  except  Indebtedness  of  Tenant  to  Landlord  (or,  if
          unsecured and expressly  subject and  subordinate to the terms of this
          Agreement and Landlord's interest hereunder, and payable solely out of
          excess  cash flow after  payment of all Rent  hereunder,  to  Tenant's
          partners or  Affiliated  Persons).

          (g) In addition to the foregoing,  except as otherwise provided in the
          Agreement,  Tenant shall provide and maintain throughout the Term, all
          of  Tenant's  Personal  Property  as  shall be  necessary  in order to
          operate  the Leased  Property  in  compliance  with  applicable  Legal
          Requirements  and Insurance  Requirements  and otherwise in accordance
          with customary practices in the industry for the Permitted Use.

          (h) Tenant shall, to the extent not delivered to Landlord prior to the
          execution of this  Agreement,  deliver to Landlord  within thirty (30)
          days after  receipt of or after  modification  thereof,  copies of all
          licenses  authorizing  Tenant to operate the Leased  Property  for its
          Permitted Use.

     21.3 Tenant a Single Purpose Entity. Tenant represents, agrees and warrants
that Tenant is, and throughout the Term will remain,  a Single Purpose Entity as
described and contemplated on EXHIBIT "F" hereof.

     21.4 Distributions,  Payments to Affiliated Persons,  Etc. Tenant shall not
declare, order, pay or make, directly or indirectly, any Distribution if, at the
time of such proposed action,  or immediately  after giving effect thereto,  any
Event of Default shall exist.

     21.5  Compliance with  Management  Agreement.  Tenant shall comply with and
perform  and/or  observe all material  terms and  provisions  of the  Management
Agreement to be complied  with or  performed  by Tenant.  Tenant shall not enter
into any modifications or amendments of the Management Agreement; nor, except as
otherwise expressly set forth in this Agreement,  surrender, cancel or terminate
the same prior to the  expiration  thereof,  without  Landlord's  prior  written
consent;  nor shall  Tenant  enter  into any  extension  or  replacement  of the
Management  Agreement  or elect to reduce or extend  the term of the  Management
Agreement without Landlord's prior written consent; nor shall Tenant increase or
consent  to the  increase  of  the  amount  of any  management  fees  under  the
Management Agreement or waive or release any of its material rights and remedies
under the  Management  Agreement.  Tenant shall further  enforce in all material
respects  the  performance  and  observance  by Manager to be  performed  and/or
observed by Manager under the  Management  Agreement.  In addition,  in no event
will the term of any  Management  Agreement  extend  beyond the Term hereof,  as
extended  pursuant to Section  2.4. In  addition  to the  obligations  contained
herein,  Tenant agrees to promptly deliver to Landlord (a) copies of all notices
provided by the Manager and under the Management Agreement concerning notices of
default,  notices of changes or  modifications  to the Leased  Property  and the
like,  and (b) from time to time upon request,  evidence  acceptable to Landlord
that Tenant has paid to Manager, all sums due from Tenant to Manager,  under the
Management Agreement. The terms of Section 22.19 shall not be applicable to this
Section 21.5.

                                       76
<PAGE>

     Tenant further acknowledges and agrees that Tenant shall indemnify and hold
Landlord  harmless  from and  against  any and all  loss,  damage,  injunctions,
obligations,  suits,  actions,  fines,  penalties,  claims,  demands,  costs and
expenses of any kind and nature resulting or arising directly or indirectly from
Tenant's default under the Management Agreement.

                                   ARTICLE 22

                                  MISCELLANEOUS
                                 -------------

     22.1  Limitation on Payment of Rent.  All agreements  between  Landlord and
Tenant herein are hereby  expressly  limited so that in no  contingency or event
whatsoever,  whether by reason of acceleration of Rent, or otherwise,  shall the
Rent or any other  amounts  payable to Landlord or Tenant  under this  Agreement
exceed the maximum permissible under applicable law, the benefit of which may be
asserted  by  Landlord  or Tenant as a defense,  and if,  from any  circumstance
whatsoever,  fulfillment  of any  provision  of  this  Agreement,  at  the  time
performance of such provision shall be due, shall involve transcending the limit
of validity  prescribed by law, or if from any circumstances  Landlord or Tenant
should ever receive as fulfillment  of such provision such an excessive  amount,
then,  ipso facto,  the amount which is  excessive  shall be repaid to Tenant or
applied to the reduction of the  installment(s) of Minimum Rent next due and not
to the  payment  of such  excessive  amount or shall be repaid to  Landlord,  as
applicable. This provision shall control every other provision of this Agreement
and any other agreements between Landlord and Tenant.

     22.2 No Waiver.  No release,  discharge or waiver of any  provision  hereof
shall be  enforceable  against  or binding  upon  Landlord  or Tenant  unless in
writing and  executed by  Landlord  or Tenant,  as the case may be.  Neither the
failure of Landlord or Tenant to insist upon a strict  performance of any of the
terms,  provisions,   covenants,  agreements  and  conditions  hereof,  nor  the
acceptance of any Rent by Landlord with  knowledge of a breach of this Agreement
by Tenant in the performance of its obligations  hereunder,  or the following of
any practice or custom at variance with the terms hereof, shall not be deemed or
constitute a waiver of any rights or remedies  that  Landlord or Tenant may have
or a  waiver  of  any  subsequent  breach  or  default  in any  of  such  terms,
provisions,  covenants,  agreements and conditions or the waiver of the right to
demand exact compliance with the terms hereof.

     22.3  Remedies  Cumulative.  To the maximum  extent  permitted by law, each
legal,  equitable or  contractual  right,  power and remedy of Landlord,  now or
hereafter provided either in this Agreement or by statute or otherwise, shall be
cumulative and  concurrent and shall be in addition to every other right,  power
and remedy and the  exercise or beginning of the exercise by Landlord of any one
or more of such rights,  powers and remedies shall not preclude the simultaneous
or subsequent  exercise by Landlord of any or all of such other  rights,  powers
and remedies.

     22.4 Severability. Any clause, sentence, paragraph, section or provision of
this Agreement held by a court of competent jurisdiction to be invalid,  illegal
or  ineffective  shall not impair,  invalidate  or nullify the remainder of this
Agreement,  but rather the  effect  thereof  shall be  confined  to the  clause,
sentence,  paragraph,  section or  provision  so held to be invalid,  illegal or
ineffective,  and this Agreement shall be construed as if such invalid,  illegal
or ineffective provisions had never been contained therein.

                                       77
<PAGE>

     22.5 Acceptance of Surrender. No surrender to Landlord of this Agreement or
of the Leased Property or any part thereof, or of any interest therein, shall be
valid or effective  unless  agreed to and accepted in writing by Landlord and no
act by Landlord or any  representative  or agent of Landlord,  other than such a
written  acceptance  by Landlord,  shall  constitute  an  acceptance of any such
surrender.

     22.6 No Merger of Title. It is expressly acknowledged and agreed that it is
the intent of the parties that there shall be no merger of this  Agreement or of
the leasehold  estate  created hereby by reason of the fact that the same Person
may  acquire,  own or  hold,  directly  or  indirectly,  this  Agreement  or the
leasehold estate created hereby and the fee estate or ground landlord's interest
in the Leased Property.

     22.7 Tenant's Representations.  In addition to the any other representation
or warranty set forth herein and as an inducement to Landlord to enter into this
Agreement,  Tenant hereby  represents  and warrants to Landlord as follows:

          (a)  Tenant  is a  single  purpose,  limited  liability  company  duly
          organized and validly  existing and in good standing under the laws of
          the State of Delaware.  Tenant has all  requisite  power and authority
          under the laws of the State of  Delaware  and the laws of the State of
          Colorado and Massachusetts and its charter documents to enter into and
          perform its  obligations  under this  Agreement and to consummate  the
          transactions   contemplated  hereby.  Tenant  is  duly  authorized  to
          transact  business  in any  jurisdiction  in which  the  nature of the
          business conducted by it requires such qualification.

          (b) Tenant has taken all necessary  action to authorize the execution,
          delivery and performance of this Agreement, and upon the execution and
          delivery of this Agreement and any document to be delivered by Tenant,
          prior to the date hereof, such document shall constitute the valid and
          binding obligation and agreement of Tenant, enforceable against Tenant
          in accordance  with its terms,  except as such  enforceability  may be
          limited  by  bankruptcy,  insolvency,  reorganization,  moratorium  or
          similar laws of general application  affecting the rights and remedies
          of  creditors  and  except  to the  extent  that the  availability  of
          equitable  relief may be subject to the discretion of the court before
          which any proceeding may be brought.

          (c)  Except as  disclosed  on  EXHIBIT  "I",  there are no  judgements
          presently  outstanding  and  unsatisfied  against Tenant or any of its
          properties,  and neither Tenant nor any of its properties are involved
          in any  material  litigation  at law or in  equity  or any  proceeding
          before any court, or by or before any  governmental or  administrative
          agency, which litigation or proceeding could reasonably be expected to
          materially adversely affect Tenant, and no such material litigation or
          proceeding is, to the knowledge of Tenant,  threatened  against Tenant
          and no investigation  looking toward such a proceeding has begun or is
          contemplated.

                                       78
<PAGE>

          (d) In the reasonable  opinion of Tenant,  the Leased Property and the
          Leased  Improvements  therein  are  adequately  furnished  and contain
          adequate  FF&E and  inventory  consistent  with the amount of FF&E and
          inventory  which is customarily  maintained in a hotel of the type and
          character of the Leased Property as otherwise  required to operate the
          Leased  Property in a manner  contemplated  by this  Agreement  and in
          compliance with the Management  Agreement and all Legal  Requirements.
          If, from and after the Commencement  Date, Tenant acquires an interest
          in any items of tangible personal property (other than motor vehicles)
          on, or in connection  with the Leased  Property which belong to anyone
          other than Tenant,  Tenant shall require the agreement permitting such
          use to provide  that  Landlord  or its  designee  may assume  Tenant's
          rights and  obligations  under such agreement upon the  termination of
          this  Agreement  and any  assumption of management or operation of the
          Leased  Property by Landlord or its  designee.

          (e) During the Term of this  Agreement,  except as approved in writing
          by Landlord,  and except for those nights when all rooms in the Leased
          Property are sold,  Tenant shall not,  either  directly or indirectly,
          for itself,  or through,  or on behalf of, or in  connection  with any
          Person,  knowingly  and in bad faith  divert or  attempt to divert any
          business  or customer of the Leased  Property  to any  competitor,  by
          direct or indirect  inducement or otherwise,  in an effort or with the
          goal to reduce  Percentage  Rent due  hereunder.

          (f) All employees of Tenant are solely employees of Tenant, Manager or
          an  Affiliated  Person  thereof  and  not  Landlord.   Tenant  is  not
          Landlord's  agent for any purpose in regard to Tenant's  employees  or
          otherwise.  Tenant shall,  commencing as of, and with the Commencement
          Date,  be liable and  responsible  for all claims by or related to the
          employees  of  the  Leased   Property.   Further,   Tenant   expressly
          acknowledges  and agrees that Landlord does not exercise any direction
          or control over the  employment  policies or  employment  decisions of
          Tenant.

          (g) Tenant's equity is directly and (if applicable)  indirectly  owned
          as shown on EXHIBIT "G". Tenant shall submit to Landlord within ninety
          (90) days after the end of each  Fiscal  Year  during the Term of this
          Agreement,  a list of all  partners  of the  Tenant  (being a  limited
          partnership),  and the respective  interests in Tenant held by each of
          such  partners  as of the end of each  Fiscal  Year.  If  Tenant  is a
          corporation,  or if any partner of Tenant is a corporation (other than
          Wyndham),  Tenant  shall  submit to Landlord  within  ninety (90) days
          after the end of each Fiscal Year during the Term of this Agreement, a
          list of all  shareholders  and the respective  interests of Tenant (or
          such corporate  partner) held by each of such  shareholders  as of the
          end of each Fiscal Year. In addition, if Tenant is a limited liability
          company,  Tenant shall submit to Landlord within 90 days after the end
          of each Fiscal Year during the Term of this  Agreement,  a list of all
          members and the respective  interests in Tenant held by each member as
          of the end of each Fiscal Year.

                                       79
<PAGE>

     22.8 Quiet  Enjoyment.  Landlord  covenants  and agrees  that so long as no
Event of Default exists  hereunder,  Tenant shall and may peacefully and quietly
have, hold and occupy the Leased Property free of any interference from Landlord
or any Person  claiming by, through or under  Landlord;  subject,  however,  and
nevertheless  to the terms,  provisions and conditions of this Agreement and the
Permitted Encumbrances.

     22.9  Recordation of Memorandum of Lease. At either party's option, a short
form  memorandum of this  Agreement,  in the form attached hereto as EXHIBIT "A"
shall be recorded or filed among the  appropriate  land records of the County in
which the Leased Property is located,  and Tenant shall pay the transfer and all
recording costs associated therewith.  In the event of a discrepancy between the
provisions  of this  Agreement  and such  short  form  memorandum  thereof,  the
provisions of this  Agreement  shall  prevail.  Upon and in connection  with the
expiration or earlier termination of this Agreement,  Tenant agrees to execute a
termination of the memorandum of this Agreement for recordation among the public
records of the County in which the Leased Property is located. In the event that
Tenant fails or refuses to execute such  termination  of the  memorandum of this
Agreement  within  fifteen (15) days  following the delivery of such document to
Tenant,  Landlord may record a notice of  termination  of the memorandum of this
Agreement  without the joinder and execution by Tenant,  but Tenant shall not be
precluded  from  providing  notice of a dispute as to such  expiration  or early
termination  by  recording  a notice of such  dispute  without  the  joinder and
execution by Landlord.

     22.10 Notices.

          (a)  Any  and  all  notices,  demands,  consents,  approvals,  offers,
          elections and other  communications  required or permitted  under this
          Agreement shall be deemed  adequately given if in writing and the same
          shall  be  delivered  either  in  hand,  by  telecopier  with  written
          acknowledgment  of receipt,  or by mail or Federal  Express or similar
          expedited  commercial  carrier,  addressed  to  the  recipient  of the
          notice,  postpaid  and  registered  or certified  with return  receipt
          requested  (if by mail),  or with all freight  charges  prepaid (if by
          Federal Express or similar carrier).

          (b) All notices  required or permitted to be sent  hereunder  shall be
          deemed to have been given for all purposes of this  Agreement upon the
          date of acknowledged  receipt,  in the case of a notice by telecopier,
          and, in all other cases,  upon the date of receipt or refusal,  except
          that whenever  under this  Agreement a notice is either  received on a
          day which is not a Business  Day or is required to be  delivered on or
          before a specific day which is not a Business  Day, the day of receipt
          or  required  delivery  shall  automatically  be  extended to the next
          Business Day.

          (c) All such notices shall be addressed,

     if to Landlord to:

                                       80
<PAGE>

     CNL Hospitality Partners, LP
     CNL Center at City Commons
     450 South Orange Avenue
     Orlando, FL  32801
     Attn:  Senior Vice President of Finance and Administration
     Telecopier No. (407) 428-9370

     with a copy to:

     Lowndes, Drosdick, Doster, Kantor and Reed, P.A.
     215 North Eola Drive
     P.O. Box 2809
     Orlando, FL  32809
     Attn:  Richard J. Fildes, Esq.
     Telecopier No. (407) 843-4444

                                       81

<PAGE>

if to Tenant to:

     WYN ORLANDO LESSEE, LLC
     c/o Wyndham International, Inc.
     1950 Stemmons Freeway, Suite 6001
     Dallas, Texas 75207
     Attn: General Counsel
     Telecopier No. (214) 863-1986

with a copy to:

     Akin, Gump, Strauss, Hower & Feld, L.L.P.
     1700 Pacific Avenue, Suite 4100
     Dallas, Texas 75201
     Attn: Carl B. Lee, P.C.
     Telecopier No. (214) 969-4343

          (d) By notice given as herein  provided,  the parties hereto and their
          respective  successors  and assigns  shall have the right from time to
          time and at any time during the term of this Agreement to change their
          respective  addresses  effective  upon receipt by the other parties of
          such  notice and each  shall have the right to specify as its  address
          any other address within the United States of America.

     22.11 Construction;  Nonrecourse. Except as otherwise expressly provided in
this  Agreement,  all claims  against,  and  liabilities  of, Tenant or Landlord
arising prior to any date of  termination  or expiration of this  Agreement with
respect to the Leased  Property  shall survive such  termination  or expiration.
Neither  this  Agreement  nor  any  provision  hereof  may be  changed,  waived,
discharged  or terminated  except by an instrument in writing  signed by all the
parties hereto.  All the terms and provisions of this Agreement shall be binding
upon and  inure to the  benefit  of the  parties  hereto  and  their  respective
permitted successors and assigns. Each term or provision of this Agreement to be
performed by Tenant shall be construed as an independent covenant and condition.
Time is of the essence  with  respect to the exercise of any rights of Tenant or
Landlord under this Agreement,  including,  without limitation,  obligations for
the  payment of money.  Except as  otherwise  set forth in this  Agreement,  any
obligations  of Tenant or Landlord  arising  prior to the  expiration  or sooner
termination  of this  Agreement  (including  without  limitation,  any monetary,
repair and  indemnification  obligations) shall survive the expiration or sooner
termination of this Agreement. In addition, (a) solely with respect to Landlord,
nothing  contained in this Agreement  shall be construed to create or impose any
liabilities or  obligations  and no such  liabilities  or  obligations  shall be
imposed  on any of the  shareholders,  beneficial  owners,  direct or  indirect,
officers,  directors,  trustees, employees or agents of Landlord for the payment
or performance of the obligations or liabilities of Landlord hereunder;  and (b)
solely  with  respect  to  Tenant,  except  pursuant  to the  Guaranty,  nothing
contained  in this  Agreement  shall  be  construed  to  create  or  impose  any
liabilities or  obligations  and no such  liabilities  or  obligations  shall be
imposed  on any of the  shareholders,  beneficial  owners,  direct or  indirect,
officers, directors,  trustees, employees or agents of Tenant for the payment or
performance of the obligations or liabilities of Tenant hereunder.

                                       82
<PAGE>

     22.12 Counterparts; Headings. This Agreement may be executed in two or more
counterparts,  each of which shall constitute an original, but which, when taken
together,  shall  constitute but one instrument and shall become effective as of
the date  hereof  when  copies  hereof,  which,  when taken  together,  bear the
signatures  of each of the parties  hereto shall have been signed.  Captions and
headings in this  Agreement  are for purposes of reference  only and shall in no
way define,  limit or describe the scope or intent of, or otherwise affect,  the
provisions of this Agreement.

     22.13  Applicable  Law,  Etc.  This  Agreement  shall be  governed  by, and
construed in accordance with, the laws of the State in which the Leased Property
is located.

     22.14 Right to Make Agreement. Each party warrants, with respect to itself,
that neither the execution and delivery of this  Agreement,  nor the  compliance
with the terms and provisions hereof, shall violate any provision of any law, or
any judgment,  writ,  injunction,  order or decree of any court or  Governmental
Authority; nor result in or constitute a breach or default under or the creation
of any lien, charge or encumbrance upon any of its property or assets under, any
indenture, mortgage, deed of trust, contract, other commitment or restriction to
which it is a party or by which it is bound;  nor require any  consent,  vote or
approval  which has not been given or taken,  or at the time of the  transaction
involved  shall not have been given or taken.  Each party  covenants that it has
and  will  continue  to have  throughout  the  term of  this  Agreement  and any
extensions thereof,  the full right to enter into this Agreement and perform its
obligations hereunder.

     22.15  Brokerage.  Landlord and Tenant hereby represent and warrant to each
other that they have not  engaged,  employed  or  utilized  the  services of any
business or real estate brokers,  salesmen, agents or finders in the initiation,
negotiation  or  consummation  of  the  business  and  real  estate  transaction
reflected in this Agreement.  On the basis of such  representation and warranty,
each party  shall and  hereby  agrees to  indemnify  and save and hold the other
party  harmless  from and against the payment of any  commissions  or fees to or
claims for commissions or fees by any real estate or business broker,  salesman,
agent or finder resulting from or arising out of any actions taken or agreements
made by them with respect to the business and real estate transaction  reflected
in this Agreement.

     22.16 No  Partnership  or Joint  Venture.  Landlord shall not, by virtue of
this  Agreement,  in any way or for any  purpose,  be deemed to be a partner  of
Tenant in the  conduct  of  Tenant's  business  upon,  within or from the Leased
Property or  otherwise,  or a joint  venturer or a member of a joint  enterprise
with Tenant.

     22.17  Entire  Agreement.  This  Agreement  contains  the entire  agreement
between  the parties  and,  except as  otherwise  provided  herein,  can only be
changed, modified, amended or terminated by an instrument in writing executed by
the parties. It is mutually  acknowledged and agreed by Landlord and Tenant that
there  are  no  verbal   agreements,   representations,   warranties   or  other
understandings  affecting  the same;  and that  Landlord  and Tenant each hereby
waive, as a material part of the  consideration  hereof,  all claims against the
other  for  rescission,  damages  or any  other  form of relief by reason of any
alleged  covenant,  warranty,  representation,  agreement or  understanding  not
contained in this  Agreement.  This Agreement  shall not be changed,  amended or
modified except by a written instrument executed by Landlord and Tenant.

                                       83
<PAGE>

     22.18 Costs and  Attorneys'  Fees. If either party shall bring an action to
recover any sum due hereunder,  or for any breach hereunder,  and shall obtain a
judgment or decree in its favor,  the court may award to such  prevailing  party
its reasonable costs and reasonable attorney's fees based upon services rendered
at hourly rates,  specifically  including reasonable  attorney's fees based upon
services  rendered  at hourly  rates  incurred  in  connection  with any appeals
(whether or not taxable as such by law) and in any bankruptcy action, including,
without limitation, those incurred in seeking relief from the automatic stay, in
dealing with the  assumption  or rejection of this  Agreement,  in any adversary
proceeding, and in the preparation and filing of any proof of claim.

     22.19  Approval  of  Landlord.  Whenever  the  approval or consent to or of
Landlord is referred to or is a condition  precedent to the taking of any action
by Tenant,  unless otherwise provided herein, such consent or approval shall not
be  unreasonably  withheld  or  delayed,  and the  failure of Landlord to notify
Tenant  that it does not give its consent or  approval  within  thirty (30) days
after  receipt of any  request  shall be deemed to  constitute  such  consent or
approval. If Landlord notifies Tenant that it does not approve or consent to the
taking of any action,  such notice shall specify the reasons for not  consenting
or approving and what conditions  would, if satisfied enable Landlord to consent
to or approve such action.  Whenever  Tenant is required under this Agreement to
do,  obtain or  maintain  anything  to meet the  satisfaction  or  judgement  of
Landlord, the satisfaction or judgement of Landlord must be reasonable; provided
Landlord  shall be deemed  reasonably  satisfied as to such act unless  Landlord
provides  Tenant  Notice  within  thirty (30) days after such act  specifying in
detail the  reasons  for such  dissatisfaction  and what  conditions  would,  if
satisfied,   cause  Landlord  to  become  reasonably  satisfied.  The  foregoing
provision of this Section shall not apply in any instance  where the  provisions
of this  Agreement  expressly  state that the  provisions of this Section do not
apply or where  the  provisions  of this  Agreement  expressly  state  that such
consent,  approval  or  satisfaction  are  subject  to  the  sole  and  absolute
discretion  or  judgement  of  Landlord,  and in each such  instance  Landlord's
approval or consent may be unreasonably withheld or unreasonable satisfaction or
judgement may be exercised by Landlord.

                                       84
<PAGE>

     22.20 Successors and Assigns. The agreements, terms, provisions,  covenants
and conditions  contained in this  Agreement  shall be binding upon and inure to
the benefit of Landlord and Tenant and, to the extent  permitted  herein,  their
respective successors and assigns.

     22.21  Waiver  of  Jury  Trial.   TENANT  AND  LANDLORD  HEREBY  KNOWINGLY,
VOLUNTARILY  AND  INTENTIONALLY  WAIVE,  TO  THE  MAXIMUM  EXTENT  PERMITTED  BY
APPLICABLE   LAWS,   THE  RIGHT  EITHER  OF  THEM  OR  THEIR   HEIRS,   PERSONAL
REPRESENTATIVES, SUCCESSORS OR ASSIGNS MAY HAVE TO A TRIAL BY JURY IN RESPECT TO
ANY  LITIGATION  PROCEEDINGS  OR  COUNTERCLAIM,  ARISING  OUT  OF,  UNDER  OR IN
CONNECTION  WITH THIS AGREEMENT OR ANY AGREEMENT  CONTEMPLATED TO BE EXECUTED IN
CONJUNCTION HEREWITH, THE RELATIONSHIP OF LANDLORD AND TENANT HEREUNDER,  OR ANY
COURSE OF CONDUCT, COURSE OF DEALING,  STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY.  THIS  PROVISION IS A MATERIAL  INDUCEMENT  TO  LANDLORD'S
ACCEPTING THIS LEASE.

     22.22  Treatment  of Lease.  Landlord  and Tenant  each agree to treat this
Agreement  as a true  lease  for tax  purposes  and as an  operating  lease  for
generally accepted accounting principles.

     22.23 Landlord's Option to Acquire the Tenant's Personal Property; Transfer
of Licenses.  Upon the expiration or early  termination of this  Agreement,  the
Landlord  shall have the right and option to acquire  all of  Tenant's  Personal
Property but not Tenant's  Intangible  Personal Property (which shall remain the
exclusive  property of Tenant) then in place or utilized at or within the Leased
Property for the then book value thereof. Provided,  Landlord's right to acquire
the Tenant's  Personal  Property as herein  provided shall be in addition to and
not in lieu of Landlord's rights with respect to Tenant's Personal Property as a
result  of a  default  hereunder  by  Tenant.  Upon the  expiration  or  earlier
termination  of this  Agreement  other than as a result of an Event of  Default,
Landlord shall purchase from Tenant at cost the Tenant's  Personal Property then
in existence,  but not Tenant's Intangible Personal Property (which shall remain
the  exclusive  property  of Tenant).  Further,  upon the  expiration  or sooner
termination of this Agreement,  Tenant shall use commercially reasonable efforts
to transfer  and assign to Landlord  or its  designee or assist  Landlord or its
designee in obtaining,  any contracts,  licenses,  permits,  development rights,
trade names,  telephone  exchange  numbers  identified with the Leased Property,
approvals  and  certificates  and all other  transferable  intangible  property,
excluding  Tenant's   Intangible   Personal  Property  and  National  Contracts,
miscellaneous  rights,  benefits and  privileges  of any kind or character  with
respect to the Leased Property, useful or required for the then operation of the
Leased Property.

                                       85
<PAGE>

     22.24 Landlord's  Representations.  Landlord hereby represents and warrants
to Tenant as follows:

          (a)  Landlord  is a Limited  Partnership  duly  organized  and validly
          existing and in good standing under the laws of the State of Delaware.
          Landlord has all requisite  power and authority  under the laws of the
          State of Delaware and its charter  documents to enter into and perform
          its   obligations   under  this   Agreement  and  to  consummate   the
          transactions  contemplated  hereby.  Landlord  is duly  authorized  to
          transact  business  in any  jurisdiction  in which  the  nature of the
          business conducted by it requires such qualification.

          (b)  Landlord  has  taken  all  necessary   action  to  authorize  the
          execution,  delivery and performance of this  Agreement,  and upon the
          execution  and  delivery of any  document to be delivered by Landlord,
          prior to the date hereof, such document shall constitute the valid and
          binding  obligation  and  agreement of Landlord,  enforceable  against
          Landlord in accordance with its terms,  except as such  enforceability
          may be limited by bankruptcy, insolvency,  reorganization,  moratorium
          or  similar  laws of  general  application  affecting  the  rights and
          remedies of creditors  and except to the extent that the  availability
          of  equitable  relief may be subject  to the  discretion  of the court
          before which any proceeding may be brought.

     22.25 Guaranty.

     In order to further secure  Tenant's  obligation  hereunder.  Guarantor has
agreed to provide, and shall provide a Guaranty of this Lease, the form of which
Guaranty is attached  hereto as EXHIBIT  "H" and by this  reference  made a part
hereof.  The original  Guaranty shall be executed by the Guarantor in connection
with the  execution  of this  Agreement.  The  Guarantor  has further  joined in
executing  this Lease for the sole  purpose of  acknowledging  its  agreement to
provide the Guaranty. Guarantor expressly acknowledges and agrees that Tenant is
a wholly owned  Affiliate of Guarantor and  accordingly,  Guarantor will benefit
from Tenant's entering into this Agreement.

                      [SIGNATURES APPEAR ON FOLLOWING PAGE]

                                       86

<PAGE>

     IN WITNESS  WHEREOF,  the parties have executed this  Agreement as a sealed
instrument as of the date above first written.

                                        LANDLORD:

                                        CNL HOSPITALITY PARTNERS, LP,
                                        a Delaware Limited Partnership

                                        By:  CNL Hospitality GP Corporation,
                                        a Delaware corporation

                                             By:  /s/ C. Brian Strickland
                                                  ------------------------------

                                        TENANT:

                                        WYN ORLANDO LESSEE, LLC
                                        a Delaware limited liability company

                                        By: Wyn Orlando Lessee Manager Corp.
                                        a Delaware corporation

                                             By:  /s/ John P. Bohlmann
                                                  ------------------------------

                                        GUARANTOR:

                                        WYNDHAM INTERNATIONAL, INC.
                                        a Delaware corporation

                                             By:  /s/ John P. Bohlmann
                                                  ------------------------------

                                       87
<PAGE>

              JOINDER OF WYNDHAM MANAGEMENT CORPORATION, AS MANAGER

     Wyndham Management Corporation,  as Manager of the Leased Property,  hereby
joins  in the  execution  of  this  Agreement  as  Manager  for the  purpose  of
acknowledging  and agreeing to the restrictions and limitations set forth in the
Agreement  regarding  the  subordinate   position  of  Manager,  the  Management
Agreement and management  fees under the Management  Agreement to this Agreement
(subject to Manager's right to receive  reimbursables under Section 21.2(d)) and
regarding  the  operation  by  Manager  of a  Conflicting  Business  within  the
Proscribed Area.

                              WYNDHAM MANAGEMENT CORPORATION

                              By: /s/ John P. Bohlmann
                                  -------------------------

                                       88
<PAGE>

                     JOINDER OF WYNDHAM INTERNATIONAL, INC.

     Wyndham hereby joins in the execution of this Agreement for the purposes of
acknowledging and agreeing to the terms of Sections 16.5 and 16.6.

                                    Wyndham International, Inc.

                                    By:  /s/ John P. Bohlmann
                                         --------------------

                                       89

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