Document:

Exhibit
10.11

 

ASSIGNMENT
AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT

 

THIS
ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT (this “Assignment”)
is executed as of September 13, 2016 (the “Effective
Date”‘), by and between LIGHTSTONE ACQUISITIONS LLC, a Delaware limited liability company (“Assignor”),
and LVP FFI AUSTIN LLC, a Delaware limited liability company (“Assignee”).

 

WITNESSETH:

 

WHEREAS,
Excel Austin North LLC (“Seller”)
and Assignor are parties to that certain Purchase and Sale Agreement dated as of April 21, 2016, as amended (as amended, the “Agreement”),
pursuant to which Seller has agreed to sell and Assignor has agreed to purchase the hotel known as the “Fairfield Inn &
Suites Austin Northwest/Research Boulevard” located at 13087 Research Boulevard, Austin, Texas 78750; and

 

WHEREAS,
Assignor desires to assign to Assignee (which is an Affiliate of Assignor) all of its right, title and interest in and to the Agreement,
and Assignee desires to accept all of Assignor’s right, title and interest in and to the Agreement and assume Assignor’s
obligations under the Agreement.

 

NOW
THEREFORE, in consideration of the above recitals incorporated herein and the mutual promises and covenants contained herein and
other good and valuable consideration, the receipt of which is hereby acknowledged, and intending to be legally bound hereby, Assignor
and Assignee agree as follows:

 

1.          Assignment
and Assumption of the Agreement. Pursuant to Section 15.3 of the Agreement, Assignor hereby assigns, transfers and conveys
to Assignee all of Assignor’s right, title, interest in, and delegates to Assignee all of Assignor’s duties, undertakings,
agreements, obligations and covenants under, the Agreement, and Assignee hereby accepts such assignment, transfer and conveyance
of the Agreement, and hereby assumes and agrees to be bound by and to perform and observe all of the duties, undertakings, agreements,
obligations and covenants under the Agreement that are to be performed by Assignor thereunder in accordance with the terms of the
Agreement, including without limitation, obligations that may arise due to conditions existing prior to the Effective Date. Assignor
shall continue to remain primarily liable under the Agreement until the Closing under the Agreement.

 

2.          Representations
and Warranties. Assignor represents and warrants to Assignee that Assignor has full power, authority and right to execute
and deliver this Assignment. Assignee represents and warrants to Assignor that Assignee has full power, authority and right to
execute and deliver this Assignment.

 

3.          Reliance.
This Assignment may be relied upon as conclusive proof that the Agreement has been assigned to Assignee.

 

     

     

    

 

4.          Further
Assurances. Assignor and Assignee each covenants and agrees to hereafter execute and acknowledge any and all agreements,
contracts, leases, licenses, applications, verifications and such other additional instruments and documents as may be reasonably
requested by the other party hereto in furtherance of this Assignment or to carry out the intent hereof.

 

5.          Successors
and Assigns. This Assignment
shall be binding upon and inure to the benefit of the successors and assigns of Assignor and Assignee.

 

6.          Counterparts.
This Assignment may be executed in one or more counterparts, and by facsimile signature, each of which shall be deemed an original
and all of which, taken together, shall be construed as a single instrument.

 

[Signatures
appear on following pages]

 

    	 	2	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Assignment as of the date first above set forth.

 

	 	ASSIGNOR:
	 	 
	 	LIGHTSTONE ACQUISITIONS LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Joseph E. Teichman, Executive Vice
    President
	 	 	 
	 	ASSIGNEE:
	 	 
	 	LVP FFI AUSTIN LLC, 
	 	a Delaware limited
    liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Joseph E. Teichman, Executive Vice President

 

    	 	3Exhibit 10.12

 

ASSIGNMENT AND ASSUMPTION OF PURCHASE
AND SALE AGREEMENT

 

THIS ASSIGNMENT AND
ASSUMPTION OF PURCHASE AND SALE AGREEMENT (this “Assignment”) is executed as of October 6, 2016 (the “Effective
Date”), by and between LIGHTSTONE ACQUISITIONS LLC, a Delaware limited liability company (“Assignor”),
and LVP SBS AUSTIN LLC, a Delaware limited liability company(“Assignee”).

 

WITNESSETH:

 

WHEREAS, Excel Austin
183 LLC (“Seller”) and Assignor are parties to that certain Purchase and Sale Agreement dated as of April 21,
2016, as amended (as amended, the “Agreement”), pursuant to which Seller has agreed to sell and Assignor has
agreed to purchase the hotel known as the “Staybridge Suites Austin Northwest” located at 13087 US-183, Austin, Texas
78750; and

 

WHEREAS, Assignor desires
to assign to Assignee (which is an Affiliate of Assignor) all of its right, title and interest in and to the Agreement, and Assignee
desires to accept all of Assignor’s right, title and interest in and to the Agreement and assume Assignor’s obligations
under the Agreement.

 

NOW THEREFORE, in consideration
of the above recitals incorporated herein and the mutual promises and covenants contained herein and other good and valuable consideration,
the receipt of which is hereby acknowledged, and intending to be legally bound hereby, Assignor and Assignee agree as follows:

 

1.          Assignment
and Assumption of the Agreement. Pursuant to Section 15.3 of the Agreement, Assignor hereby assigns, transfers and conveys
to Assignee all of Assignor’s right, title, interest in, and delegates to Assignee all of Assignor’s duties, undertakings,
agreements, obligations and covenants under, the Agreement, and Assignee hereby accepts such assignment, transfer and conveyance
of the Agreement, and hereby assumes and agrees to be bound by and to perform and observe all of the duties, undertakings, agreements,
obligations and covenants under the Agreement that are to be performed by Assignor thereunder in accordance with the terms of the
Agreement, including without limitation, obligations that may arise due to conditions existing prior to the Effective Date. Assignor
shall continue to remain primarily liable under the Agreement until the Closing under the Agreement.

 

2.          Representations
and Warranties. Assignor represents and warrants to Assignee that Assignor has full power, authority and right to execute and
deliver this Assignment. Assignee represents and warrants to Assignor that Assignee has full power, authority and right to execute
and deliver this Assignment.

 

3.          Reliance.
This Assignment may be relied upon as conclusive proof that the Agreement has been assigned to Assignee.

 

     

     

    

 

4.          Further
Assurances. Assignor and Assignee each covenants and agrees to hereafter execute and acknowledge any and all agreements, contracts,
leases, licenses, applications, verifications and such other additional instruments and documents as may be reasonably requested
by the other party hereto in furtherance of this Assignment or to carry out the intent hereof.

 

5.          Successors
and Assigns. This Assignment shall be binding upon and inure to the benefit of the successors and assigns of Assignor and Assignee.

 

6.          Counterparts.
This Assignment may be executed in one or more counterparts, and by facsimile signature, each of which shall be deemed an original
and all of which, taken together, shall be construed as a single instrument.

 

[Signatures appear on following pages]

 

    	 	2	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Assignment as of the date first above set forth.

 

	 	ASSIGNOR:
	 	 
	 	LIGHTSTONE ACQUISITIONS LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Joseph E. Teichman, Executive Vice
    President
	 	 	 
	 	ASSIGNEE:
	 	 
	 	LVP SBS AUSTIN LLC, 
	 	a Delaware limited
    liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Joseph E. Teichman, Executive Vice President

 

    	 	3Exhibit 10.13

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

THIS ASSIGNMENT AND
ASSUMPTION AGREEMENT (this “Agreement”) is entered into as of the 31st day of January, 2017, by and among REIT
COVE LLC, a Delaware limited liability company (“Assignor”), REIT III COVE LLC, a Delaware limited liability
company (“REIT III”), and REIT IV COVE LLC, a Delaware limited liability company (“REIT IV”,
and together with REIT III, collectively, the “Assignees”).

 

Unless otherwise defined
herein, capitalized terms in this Agreement shall have the same meaning ascribed to them in the Purchase Agreement (as defined
below).

 

RECITALS

 

A.          Assignor
has entered into that certain Agreement of Sale and Purchase (Membership Interests) dated as of September 29, 2016 (the “Purchase
Agreement”) by and among Assignor, RP Cove, L.L.C., a Delaware limited liability company (“Rockpoint”),
and Maximus Cove Investor LLC, a Delaware limited liability company, pursuant to which Assignor agreed to purchase from Rockpoint,
and Rockpoint agreed to sell to Assignor, the Assigned Company Membership Interests (as defined in the Purchase Agreement).

 

B.          Assignor
desires to assign to the Assignees, and the Assignees wish to assume from Assignor, all of Assignor’s rights and obligations
under and incident to the Purchase Agreement.

 

NOW THEREFORE, for Ten
Dollars ($10.00) and other good and valuable consideration, Assignor and the Assignees agree as follows, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.          Assignment
by Assignor to the Assignees. Pursuant to and in accordance with Section 10.4 of the Purchase Agreement, Assignor hereby assigns
to the Assignees all of Assignor’s rights, obligations, title and interest in, to and under the Purchase Agreement. Each
Assignee is controlled, directly or indirectly, by David Lichtenstein.

 

2.          Assumption
by the Assignees. The Assignees hereby accept the foregoing assignment and assume all of Assignor’s rights, obligations,
title and interest in, to and under the Purchase Agreement and shall be jointly and severally responsible for the due performance
and observance of all agreements, covenants, conditions, provisions and obligations to be performed and observed by Assignor under
the Purchase Agreement whether arising or accruing before, as of or after the date hereof. Upon the Closing (pursuant to and in
accordance with the terms and conditions of the Purchase Agreement), (i) Rockpoint shall assign to REIT III, and REIT III shall
assume from Rockpoint, fifty percent (50%) of the Assigned Company Membership Interests, and (ii) Rockpoint shall assign to REIT
IV, and REIT IV shall assume from Rockpoint, the remaining fifty percent (50%) of the Assigned Company Membership Interests.

 

3.          Binding
Effect. This Assignment shall be binding upon the successors and assigns of the parties. The parties shall execute and deliver
such further and additional instruments, agreements, and other documents as may be necessary to evidence or carry out the provisions
of this Assignment.

 

     

     

    

 

4.          Governing
Law. This Assignment shall be governed by and construed in accordance with the substantive internal laws of the State of New
York without regard to the principles of conflicts of laws.

 

5.          Counterparts.
This Agreement may be executed in multiple counterparts, each of which constitutes an original but all of which taken together
constitute one and the same Agreement.

 

[Remainder of page intentionally left
blank.]

 

     

     

    

 

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

 

	 	ASSIGNOR:
	 	 
	 	REIT COVE LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Name: Joseph E. Teichman
	 	 	Title: Executive Vice President
	 	 	 
	 	ASSIGNEES:
	 	 
	 	REIT III COVE LLC,
	 	a Delaware limited
    liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Name: Joseph E. Teichman
	 	 	Title: Executive Vice President

 

	 	REIT IV COVE LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Joseph
    E. Teichman
	 	 	Name: Joseph E. Teichman
	 	 	Title: Executive Vice President

 

[Signature
Page to Assignment and Assumption Agreement]

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