Document:

<PAGE>

                                                                 Exhibit 10.13.7

Ref.:  GADML091a/2005

November 29, 2005

Emerson Radio (HK) Ltd.                              By Fax:  2956 1333
705-711, Tower 2, The Gateway,
25-27 Canton Road, Kowloon

Dear Mr. Jurick,

Re:  Premises Management Fees

We would like to offer Emerson the following Management Services in The Grande
Building with effect from January 1, 2006. The Management Services Fee will be
billed on 1st day of every month in advance.

<TABLE>
<CAPTION>
------------ --------------------------------------------------------------- -----------
ITEM         DESCRIPTION                                                     MONTHLY FEE
------------ --------------------------------------------------------------- -----------
<S>          <C>
1.           General Administration Services                                      $7,600
------------ --------------------------------------------------------------- -----------
             o   Handling rental and utilities payments and arranging
                 telecommunication services, etc.
             o   Handling general administration matters.
------------ --------------------------------------------------------------- -----------
2.           Amah and Cafeteria Services (up to the maximum of 40 people)        $16,400
             o   Provision of cleaning and tea services
             o   Provision of coffee, tea and distilled water, etc.
             o   Provision of tissues and all cleaning material
             o   Utilization of Cafeteria with free instant noodles, tea,
                 coffee & soft drinks.
------------ --------------------------------------------------------------- -----------
3.           Receptionist Services                                                $3,400
             o   Answering telephone calls
             o   Handling in-coming mail services
             o   Handling visitors
------------ --------------------------------------------------------------- -----------
             TOTAL MONTHLY FEE                                                   $27,400
------------ --------------------------------------------------------------- -----------

------------ --------------------------------------------------------------- -----------

Provision of Staff Badges and Access Right (for the maximum of 40 people only)
costs HK$4,000 and will be paid in advance.

The following services would be charged by actual usage:
a. Internal Messenger Services (Express)                                 HK$50 per order
b. External Courier Services                                             HK$15 per order
c. Driver Services                                  Subject to Group Management approval
d. IDD Services                                                      Charge actual usage
e. Postage and stamp                                                 Charge actual usage

</TABLE>

Should you have any queries, please do not hesitate to contact our Ms. Brenda
Lai at 2357-6763.

Yours sincerely,
For and on behalf of                              Accepted and confirmed by:
The Grande Group (Hong Kong) Limited              Emerson Radio (Hong Kong) Ltd.

/s/ Illegible signature                           /s/ Ivan LauExhibit 10.1

    
      

    

    Exhibit
      10.1

     

    PURCHASE
      AND SALE AGREEMENT

    

    THIS
      PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of
      July 11, 2006 by and between CNL
      HOSPITALITY PARTNERS, LP,
      a
      Delaware limited partnership (the “Seller”) and HERSHA
      HOSPITALITY LIMITED PARTNERSHIP,
      a
      limited partnership organized under the laws of the Commonwealth of Virginia,
      and its assignee or designee (the “Purchaser”), which together constitute the
“Parties” (and referred to individually as a “Party”).

    

    RECITALS:

    

    WHEREAS,
      the
      Seller and Purchaser are parties to that certain Limited Partnership Agreement,
      dated as of April 21, 2003 (as amended pursuant to Amendment to Limited
      Partnership Agreement dated as of August, 2003, collectively, the “Partnership
      Agreement”), for HT/CNL Metro Hotels, L.P., a Delaware limited partnership (the
“Partnership”); and

    

    WHEREAS,
      the
      Seller owns a sixty-six and 66.7/100 percent (66.667%) limited partnership
      interest in the Partnership and has agreed to sell to Purchaser its entire
      limited partnership interest in the Partnership, including, without limitation,
      all of its rights to distributions, capital accounts and equity interests (in
      the aggregate herein called the “Interest”), pursuant to the terms of this
      Agreement; and

    

    WHEREAS,
      the
      Partnership owns all of the equity of Chelsea Grand East, LLC, a New York
      limited liability company (“Hotel Owner”), which owns the fee interest in the
      Hampton Inn Chelsea Hotel (the “Hotel”), and 100% of the equity interests of
      Tenant; and

    

    WHEREAS,
      the
      Purchaser is making this Agreement without any contingency for outside financing
      of the Closing Payment (defined below); and

    

    WHEREAS,
      this
      Agreement contains the entire understanding of the Parties regarding the
      purchase of the Interest by the Purchaser and the sale of the Interest by the
      Seller.

    

    AGREEMENT

    

    NOW,
      THEREFORE,
      for and
      in consideration of the foregoing premises, the mutual covenants and agreements
      set forth below, and for other good and valuable consideration, the receipt
      and
      sufficiency of which are hereby acknowledged by each of the Parties, the Parties
      agree as follows:

    

    ARTICLE
      1

    

    RECITALS

    

    1.1    Incorporation
      of Recitals.
      The
      Parties hereby acknowledge and agree that the foregoing recitals are true and
      correct and incorporated into this Agreement by this reference.

    

    
      
        
          
          

        

        
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    ARTICLE
      2

    

    DEFINITIONS

    

    2.1    As
      used
      in this Agreement, the following terms shall have the respective meanings set
      forth below and other defined terms shall have the meaning as set forth
      elsewhere in this Agreement:

    

    “Affiliates”
      of any Person means (a) any other Person which (i) directly or indirectly,
      owns
      more than forty-nine percent (49%) of the beneficial or equity interests in
      such
      Person or (ii) directly or indirectly, is in control of, is controlled by or
      is
      under common control with, such Person; or (b) any other Person who is a
      director or officer of (i) such Person, (ii) any subsidiary of such Person,
      or
      (iii) any Person described in clause (a) above.

    

    “Applicable
      Laws” means the laws of Delaware and the laws of New York that may be applicable
      in connection with the Hotel.

    

    “Assumed
      Value” shall have the meaning specified in Section
      3.3.

    

    “Closing”
      shall mean the closing of the purchase of the Interest as contemplated in
Section
      4.1.

    

    “Closing
      Documents” means (i) an assignment (the “Assignment”) of the Interest to be
      executed by Seller in favor of Purchaser, or its designee, in the form attached
      hereto as Exhibit A, (ii) a FIRPTA Certificate to be executed by Seller, (iii)
      a
      Certificate of Representations and Warranties from each Party in the form of
      Exhibit B-1 and Exhibit B-2, respectively, (the “Officer’s Certificate”) and
      (iv) a Closing Statement to be executed by both Parties and such other documents
      and certificates as are customary for transactions of this nature and approved
      by Seller and Purchaser in good faith in their sole discretion.

    

    “Closing
      Payment” shall have the meaning specified in Section
      3.3.

    

    “Deductible”
      shall have the meaning specified in Section
      11.4.

    

    “Deposit”
      shall have the meaning specified in Section
      3.4.

    

    “Distributions”
      shall have the meaning specified in the Partnership Agreement.

    

    “Effective
      Date” shall have the meaning specified in Section
      3.2.

    

    “Escrow
      Agent” means Lowndes, Drosdick, Doster, Kantor & Reed,
      P.A.

    

    “Franchise
      Agreement” means that certain Amended and Restated Franchise Agreement between
      Franchisor and Tenant, dated as of August 27, 2003.

    

    “Franchisor”
      means Promus Hotels, Inc., a Delaware corporation.

    

    “Hotel”
      shall have the meaning specified in the Recitals.

    

    
      
        
          
          

        

        
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    “Hotel
      Owner” shall have the meaning specified in the Recitals.

    

    “Interest”
      shall have the meaning specified in the Recitals.

    

    “Knowledge
      of Seller” or similar phrases means the actual knowledge of Marcel
      Verbaas.

    

    “Management
      Agreement” means that certain Hotel Management Agreement between Manager and
      Tenant, dated as of August 29, 2003, as the same may be amended.

    

    “Manager”
      means Hersha Hospitality Management, L.P., a Pennsylvania limited
      partnership.

    

    “Mortgage
      Debt” means the principal amount outstanding under that certain Loan Agreement
      between Hotel Owner and Tenant, as co-borrower, and Mortgage Lender, as lender
      dated as of February 4, 2004, as amended by First Amendment to Loan
      Agreement and other Loan documents dated as of July 30, 2004, as the same may
      be
      further amended. The outstanding principal balance of the Mortgage Debt on
      the
      date of this Agreement is $15,860,345.00

    

    “Mortgage
      Lender” means General Electric Capital Corporation or any subsequent holder of
      the Mortgage Debt.

    

    “Net
      Cash
      Flow” shall have the meaning specified in the Partnership
      Agreement.

    

    “Parties”
      shall have the meaning specified in the Recitals.

    

    “Partnership”
      shall have the meaning specified in the Recitals.

    

    “Partnership
      Agreement” shall have the meaning specified in the Recitals.

    

    “Person”
      means an individual, corporation, trust, association, unincorporated
      association, estate, partnership, joint venture, limited liability company
      or
      other legal entity, including a governmental entity.

    

    “Purchase
      Price” shall have the meaning specified in Section
      3.3.

    

    “Purchaser”
      shall have the meaning specified in the Recitals.

    

    “Purchaser
      Default” shall have the meaning specified in Section
      11.2.

    

    “Required
      Consents” shall have the meaning specified in Section
      5.2.

    

    “Seller”
      shall have the meaning specified in the Recitals.

    

    “Seller
      Default” shall have the meaning specified in Section
      11.1.

    

    “Seller’s
      Partnership Interest” means 66.667%.

    

    “Tenant”
      means Hersha CNL TRS, Inc., a Delaware corporation.

    

    
      
        
          
          

        

        
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    ARTICLE
      3

    

    SALE
      OF INTEREST

    

    3.1    Sale
      of Interest.
      The
      Seller hereby agrees to sell to the Purchaser, and the Purchaser hereby agrees
      to purchase from the Seller, the Interest pursuant to the terms and conditions
      set forth herein.

    

    3.2    Effective
      Date.
      The
      effective date (“Effective Date”) of the purchase and sale of the Interest
      hereunder will be the date this Agreement is last executed by Seller and
      Purchaser.

    

    3.3    Purchase
      Price.
      In
      determining the aggregate purchase price (“Purchase Price”) for the Interest to
      be purchased hereunder, the Parties have assumed that the value of all of the
      assets of the Partnership, including the Hotel, is $54,000,000.00 (the “Assumed
      Value”). The Purchase Price to be paid shall be equal to the Assumed Value less
      the Mortgage Debt times the Seller’s Partnership Interest. In addition to the
      Purchase Price, Seller shall receive at Closing Seller’s Partnership Interest in
      Net Cash Flow, the FF & E Reserve and working capital, all determined
      as of Closing (the Purchase Price and Seller’s share of the Net Cash Flow, the
      FF&E Reserve and working capital is herein referred to as the “Closing
      Payment”).

    

    3.4    Deposit.
      Upon
      execution of this Agreement by Purchaser and Seller, Purchaser shall deposit
      an
      amount equal to One Million Five Hundred Thousand and No/100 Dollars
      ($1,500,000.00) (plus any interest or earnings accrued thereon, the “Deposit”),
      by wire transfer, official bank check, or other immediately available funds,
      or
      by a letter of credit with the Escrow Agent. In the event the Purchaser elects
      to provide the Deposit by a letter of credit, the letter of credit shall be
      payable to Seller and shall by its express terms provide that upon the
      occurrence of a default by Purchaser hereunder, as contemplated in Section
      11.2
      hereof, resulting in the termination of this Agreement by Seller, the letter
      of
      credit shall immediately be delivered to Seller by Escrow Agent and Purchaser
      shall have no right or claim with respect thereto. In the event that the Deposit
      has not been deposited with Escrow Agent within two (2) business days following
      the execution of this Agreement, this Agreement shall immediately terminate.
      The
      Deposit shall be deposited by the Escrow Agent into an interest-bearing, fully
      insured account, as directed by the Purchaser. The Deposit shall be applied
      to
      payment of the Closing Payment at Closing or shall otherwise be paid as herein
      provided. The Purchaser acknowledges and agrees that the Deposit, when made,
      is
“At Risk” with respect to a default by the Purchaser of its obligations to close
      the purchase and sale of the Interest as set forth in this Agreement (as
      specifically set forth in Section
      11.2).
      All
      interest earned in said account of the Escrow Agent shall be for the account
      of
      the Purchaser and reported by the Escrow Agent to the Internal Revenue Service
      as income to the Purchaser (and the Purchaser agrees to execute a Form W-9
      and
      any other tax documents necessary in connection therewith). 

    

    3.5    Payment
      of the Closing Payment.
      At the
      Closing, the Purchaser shall pay the Closing Payment (less the Deposit) to
      the
      Seller and the Escrow Agent shall pay the Deposit to Seller, in each case by
      wire transfer, official bank check, or other immediately available
      funds.

    

    
      
        
          
          

        

        
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    3.6    Escrow
      Agent.
      The
      Escrow Agent, in its capacity as holder of the Deposit in escrow, joins in
      the
      execution of this Agreement for the limited purpose of acknowledging and
      agreeing to the provisions of this Section
      3.6.
      

    

    A.    The
      duties of the Escrow Agent shall be as follows:

    

    (i)    The
      Escrow Agent shall deposit, hold and disburse the Deposit in accordance with
      the
      terms and provisions of this Agreement.

    

    (ii)   If
      this
      Agreement shall be terminated by the mutual written agreement of the Purchaser
      and the Seller, or if the Escrow Agent shall be unable to determine at any
      time
      to whom the Deposit should be paid, or if a dispute shall develop between the
      Seller and the Purchaser concerning to whom the Deposit should be paid and
      delivered, then and in any event, the Escrow Agent may request the joint written
      instructions of the Seller and the Purchaser and pay and deliver the Deposit
      in
      accordance therewith. In the event that such written instruction shall not
      be
      received by the Escrow Agent within ten (10) days after the Escrow Agent has
      served a written request for instructions upon the Seller and the Purchaser,
      then the Escrow Agent shall have the right to pay and deliver the Deposit into
      an appropriate court of proper jurisdiction in the State of Florida, and
      interplead the Seller and the Purchaser in respect thereof, and thereupon the
      Escrow Agent shall be discharged of any obligations in connection with this
      Agreement.

    

    B.    If
      costs
      or expenses are incurred by the Escrow Agent in its capacity as holder of the
      Deposit in escrow because of litigation or a dispute between the Seller and
      the
      Purchaser arising out of the holding of the Deposit in escrow, the Seller and
      the Purchaser shall each pay the Escrow Agent one-half of such reasonable costs
      and expenses.

    

    C.    By
      joining herein, the Escrow Agent undertakes only to perform the duties and
      obligations imposed upon the Escrow Agent under the terms of this Agreement
      and
      expressly does not undertake to perform any of the other covenants, terms and
      provisions incumbent upon the Seller and the Purchaser hereunder.

    

    D.    The
      Purchaser and the Seller hereby agree and acknowledge that the Escrow Agent
      assumes no liability in connection herewith except for its willful misconduct
      or
      gross negligence; that the Escrow Agent shall never be responsible for the
      validity, correctness or genuineness of any document or notice referred to
      under
      this Agreement; and that in the event of any dispute under this Agreement,
      the
      Escrow Agent may seek advice from its own legal counsel and shall be fully
      protected in any action taken by it in good faith in accordance with the good
      faith opinion of its legal counsel.

    

    E.    Purchaser
      and Seller agree that Escrow Agent shall be free to represent Seller in any
      dispute relating to this Agreement in addition to acting as Escrow Agent,
      including without limitation, a dispute relating to the Deposit.

    

    
      
        
          
          

        

        
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    ARTICLE
      4

    

    CLOSING

    

    4.1    Closing.
      Unless
      otherwise expedited by agreement of the Parties, the Closing will take place
      on
      a date (the “Closing Date”) which is no later ninety (90) days after the date of
      this Agreement or such earlier date agreed upon by the Parties. The Closing
      shall take place through the mail. Summit Associates, whose address is 100
      Lafayette Street, 3rd Floor, New York, New York 10013, shall serve as closing
      and disbursing agent. At and in connection with the Closing, the Parties shall
      execute and deliver the Closing Documents and the Escrow Agent shall return
      the
      Deposit to the Purchaser and the Purchaser shall pay the Closing Payment to
      Seller by wire transfer, official bank check or other immediately available
      funds.

    

    ARTICLE
      5

    

    REPRESENTATIONS
      AND WARRANTIES OF SELLER

    

    To
      induce
      the Purchaser to enter into this Agreement, and to consummate the transactions
      contemplated hereby, the Seller represents and warrants to the Purchaser as
      of
      the date hereof and on the Effective Date, as follows:

    

    5.1    General
      Representations and Warranty of the Seller.
      (i) The
      Seller is a limited partnership, duly formed and organized, validly existing,
      and in good standing under the laws of Delaware; and (ii) the Seller’s general
      partner has the full legal right, capacity and power to enter into this
      Agreement and to perform Seller’s respective obligations hereunder.

    

    5.2    Authorization
      and Execution.
      (i) The execution and delivery of this Agreement by the Seller and the
      performance of its obligations hereunder, including the sale and transfer of
      the
      Interest hereunder, have been duly authorized and approved pursuant to the
      applicable provisions of the Partnership Agreement and by all other necessary
      partnership authorizing action on the part of the Seller and, except for any
      consent to the subject sale of the Interest or release of Seller from any and
      all liability which Seller requests or which Purchaser is required to obtain
      from the Mortgage Lender (“Lender Consent”), Manager (“Manager Consent”) and
      Franchisor (“Franchisor Consent”) in connection with the transactions
      contemplated herein (together the “Required Consents”), no other approvals or
      consents of any third party or governmental authority are required in connection
      with the transactions contemplated hereunder; (ii) this Agreement has been
      duly executed and delivered by the Seller, constitutes the valid and binding
      agreement of the Seller enforceable against the Seller in accordance with its
      terms; (iii) the Person executing this Agreement on behalf of the Seller
      has the authority to do so; (iv) the Seller owns good title to the Interest,
      free and clear of any and all liens, claims and encumbrances of any kind or
      nature whatsoever, and has the legal right to sell the Interest to the Purchaser
      pursuant to the terms of this Agreement; and (v) the Interest comprises the
      entire Partnership interest of the Seller in the Partnership and the Seller
      has
      no other legal or beneficial interest in the Partnership or any of its
      assets.

    

    5.3    Bankruptcy.
      The
      Seller is not subject to any pending, or to the knowledge of the Seller, any
      threatened bankruptcy proceeding, receivership proceeding or other insolvency,
      dissolution, reorganization or similar proceeding.

    

    
      
        
          
          

        

        
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    5.4    Seller
      Is Not a “Foreign Person”.
      The
      Seller is not a “foreign person” within the meaning of that term as used in
      Section 1445 of the Internal Revenue Code.

    

    5.5    Non-contravention.
      Assuming all Required Consents are obtained on or before the Closing Date,
      the
      execution and delivery of this Agreement and the other agreements contemplated
      hereby and the performance by the Seller of its obligations hereunder do not
      and
      will not contravene, or constitute a default under any judgment, injunction,
      order, decree or other instrument binding upon the Seller or result in the
      creation of any lien on any asset of the Seller.

    

    ARTICLE
      6

     

    REPRESENTATIONS
      AND WARRANTIES OF PURCHASER

     

    To
      induce
      the Seller to enter into this Agreement and to consummate the transactions
      contemplated hereby, the Purchaser represents and warrants to the Seller as
      of
      the date hereof and on the Effective Date, as follows:

     

    6.1    General
      Representation and Warranty of the Purchaser.
      (i) The
      Purchaser is a limited partnership, duly formed and organized, validly existing,
      and in good standing under the laws of the Commonwealth of Virginia; (ii) the
      Purchaser’s general partner has full power and authority to execute and deliver
      this Agreement and perform Purchaser’s respective obligations
      hereunder.

     

    6.2    Authorization
      and Execution.
      The
      execution and delivery of this Agreement by Purchaser and the performance of
      its
      obligations hereunder have been duly authorized and approved pursuant to the
      applicable provisions of Purchaser’s partnership documents and by all other
      necessary partnership authorizing action on the part of Purchaser and, except
      for the Required Consents, no other approvals or consents of any third party
      or
      governmental authority are required in connection with the transactions
      contemplated hereunder; this Agreement has been duly executed and delivered
      by
      the Purchaser and constitutes the valid and binding agreement of the Purchaser
      enforceable against the Purchaser in accordance with its terms. The Person
      executing this Agreement on behalf of the Purchaser’s general partner has the
      authority to do so.

     

    6.3    Non-contravention.
      Assuming all Required Consents are obtained on or before the Closing Date,
      the
      execution and delivery of this Agreement and the other agreements contemplated
      hereby and the performance by the Purchaser of its obligations hereunder do
      not
      and will not contravene, or constitute a default under, any judgment,
      injunction, order, decree or other instrument binding upon the Purchaser or
      result in the creation of any lien on any asset of the Purchaser.

     

    6.4    Litigation.
      Except
      for suits publicly disclosed by Purchaser in its SEC filings through the date
      hereof, the Purchaser knows of no action, suit or proceeding, pending or known
      to be threatened against the Purchaser in any court or before any arbitrator
      or
      before any governmental authority which (i) in any manner raises any question
      affecting the validity or enforceability of this Agreement or any other
      agreement or instrument to which the Purchaser is a party or by which it is
      bound and that is to be used in connection with, or is contemplated by, this
      Agreement, (ii) would materially and adversely affect the business, financial
      position or results
      of operations of the Purchaser, or (iii) would materially and adversely affect
      the ability of the Purchaser to perform its obligations hereunder, or under
      any
      document to be delivered pursuant hereto.

     

    
      
        
          
          

        

        
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    ARTICLE
      7

     

    EXPENSES

     

    Each
      of
      the Parties shall be responsible for, and shall pay, any and all costs and
      expenses incurred by such Party in connection with this Agreement and the
      transactions contemplated hereunder, including, but not limited to, the fees
      and
      costs of such Party’s legal counsel. Any transfer taxes due and owing in
      connection with the assignment of the Interest to Purchaser shall be paid as
      follows: Seller shall pay two thirds of such taxes and Purchaser shall pay
      one
      third of such taxes.

     

    ARTICLE
      8

     

    CONDITIONS
      PRECEDENT TO CLOSE

     

    8.1    Conditions
      as to the Purchaser’s Obligations to Close.
      The
      obligations of the Purchaser to consummate the Closing and pay the Closing
      Payment to the Seller are subject to satisfaction by Seller, or waiver by the
      Purchaser, of the following conditions:

     

    A.    The
      representations and warranties made in this Agreement by the Seller shall be
      true and correct in all respects when made and as of the Closing and the Seller
      shall have performed, in all material respects, its obligations under this
      Agreement.

     

    B.    Delivery
      by the Seller to the Purchaser of an Officer’s Certificate in the form attached
      hereto as Exhibit B-1, reconfirming Seller’s representations and warranties as
      of Closing.

     

    C.    The
      receipt by Purchaser of the Lender Consent and Franchisor Consent.

     

    8.2   Conditions
      as to Seller’s Obligations to Close:
      The
      obligations of the Seller to consummate the sale and take the actions to be
      performed by it in connection with the Closing are subject to the satisfaction
      by Purchaser, or waiver by the Seller, of the following conditions:

     

    A.    The
      delivery by Purchaser to Seller of the Required Consents.

     

    B.    The
      representations and warranties made in this Agreement by the Purchaser shall
      be
      true and correct in all material respects when made and as of the Closing and
      the Purchaser shall have performed, in all material respects, its obligations
      under this Agreement.

     

    C.    Delivery
      by the Purchaser to the Seller of an Officer’s Certificate in the form attached
      hereto as Exhibit B-2, reconfirming Purchaser’s representations and warranties
      as of Closing.

     

    
      
        
          
          

        

        
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    8.3    Efforts
      of the Parties.
      The
      Parties hereby agree to use good faith diligent efforts to cause each of the
      conditions precedent to their respective obligations to be fully satisfied,
      performed and discharged, on and as of the Closing; provided that the Purchaser
      shall be solely responsible for obtaining the Required Consents in accordance
      with its obligations under Section
      8.2.A
      and
Section
      10.1.
      Each
      party agrees to reasonably cooperate with the other party in its efforts to
      cause conditions precedent to be satisfied, performed and
      discharged.

     

    8.4    Mutual
      Condition.
      The
      obligations of each of the Parties to consummate the purchase and sale of the
      Interest and the other transactions contemplated by this Agreement shall be
      subject to the following conditions: (i) no temporary restraining order,
      preliminary or permanent injunction or other order or decree which prevents
      the
      consummation of the purchase and sale of the Interest and the other transactions
      contemplated by this Agreement shall have been issued and remain in effect,
      and
      (ii) no statute, rule or regulation shall have been enacted by any state or
      federal government or governmental agency which would prevent the consummation
      of the purchase and sale of the Interest and the other transactions contemplated
      by this Agreement.

     

    ARTICLE
      9

     

    CLOSING
      PROCEDURES

     

    9.1    Seller’s
      Deliveries.
      At the
      Closing, the Seller shall deliver to the Purchaser the Closing Documents, signed
      by the Seller.

     

    9.2    Purchaser’s
      Deliveries.
      At the
      Closing, the Purchaser shall deliver to the Seller (i) the Closing Payment
      and
      (ii) the Closing Documents, signed by the Purchaser.

     

    ARTICLE
      10

     

    COVENANTS
      OF PARTIES

     

    10.1   Required
      Consents.
      Purchaser shall use good faith and diligent efforts to obtain the Required
      Consents and to deliver a copy of the same to Seller on or prior to Closing.
      Purchaser expressly acknowledges that any request or requirement of Franchisor
      for a Property Improvement Plan and/or to upgrade the Hotel or any Hotel
      FF&E (as defined in the Management Agreement) or other personalty therein
      shall be Purchaser’s sole responsibility and shall be at Purchaser’s sole cost
      and expense and notwithstanding anything herein to the contrary, the same is
      not
      and shall not be a condition precedent to or of Closing.

     

    10.2   CNL
      Name.
      Immediately following Closing, Purchaser shall cause to be amended the name
      of
      all entities affiliated with the Partnership or in which Seller had an interest
      by virtue of the Interest and which contain the CNL name to remove all
      references to Seller and “CNL” therefrom, and shall provide evidence of same to
      Seller. Seller shall cooperate with Purchaser in executing necessary documents
      in connection with such name changes.

     

    
      
        
          
          

        

        
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            9 -

          
            

          

        

        
          
          

        

      

    

     

    ARTICLE
      11

     

    DEFAULT;
      TERMINATION RIGHTS; INDEMNITY

     

    11.1   Termination;
      Default by Seller.
      If the
      Closing does not occur because of the failure of a condition precedent under
      Section 8.1, Purchaser may terminate this Agreement without liability to either
      party except as otherwise provided herein and Escrow Agent shall return the
      Deposit to Purchaser. If (a) the Seller defaults under this Agreement (a “Seller
      Default”) or (b) the Purchaser has confirmed in writing that the conditions to
      its obligation to close in Section
      8.1
      of this
      Agreement have been satisfied (or that it has agreed to waive such conditions)
      and a Closing fails to occur for any reason other than a Purchaser Default
      or
      the failure of any of those conditions precedent to the Seller’s obligations set
      forth in Section
      8.2,
      then
      any one, and only one, of the following shall be available to the Purchaser
      as
      its sole and exclusive remedy: (i) to terminate this Agreement by giving the
      Seller written notice of such election and a five (5) business day cure period
      after the Seller’s receipt of such written notice, prior to or at the Closing
      (which five (5) business day period shall, if necessary, automatically extend
      the Closing to the expiration of such five (5) business day period) whereupon,
      the Escrow Agent shall promptly return to the Purchaser the Deposit, and the
      Parties shall have no further rights or liabilities under this Agreement except
      for those provisions which specifically provide that they survive the
      termination of this Agreement; or (ii) with respect to a default contemplated
      in
      (a) or (b) of this Section
      11.1,
      seek
      specific performance of the Seller’s obligations hereunder, provided that the
      Purchaser must file a suit for specific performance in the appropriate
      jurisdiction within ninety (90) days from the date of delivery by the Purchaser
      to the Seller of written notice of such default, and in the event Purchaser
      is
      unsuccessful in obtaining specific performance, the Escrow Agent shall upon
      demand of Purchaser return the Deposit to Purchaser.

     

    11.2   Termination;
      Default by the Purchaser.
      If the
      Closing does not occur because of the failure of a condition precedent under
      Section 8.2, the Seller may terminate this Agreement, without liability to
      either party except as otherwise provided herein and Escrow Agent shall return
      the Deposit to Purchaser. If (a) the Purchaser defaults under this Agreement
      (a
“Purchaser Default”) or (b) the Seller has confirmed in writing that the
      conditions to its obligation to close in Section
      8.2
      of this
      Agreement have been satisfied (or that it has agreed to waive such conditions)
      and a Closing fails to occur for any reason other than a Seller Default or
      the
      failure of any condition precedent to Purchaser’s obligation as set forth in
Section
      8.1,
      then
      the Seller may, after written notice to the Purchaser of such default and a
      five
      (5) business day cure period after the Purchaser’s receipt of such written
      notice prior to or at the Closing (which five (5) business day period shall,
      if
      necessary, automatically extend the Closing to the expiration of such five
      (5)
      business day period), as its sole and exclusive remedy, terminate this Agreement
      by written notice to the Purchaser in which event the Seller shall receive
      the
      Deposit as liquidated damages for such default, the amount of which Deposit
      the
      Purchaser and the Seller agree is not punitive or a penalty but is just, fair
      and reasonable, and the Escrow Agent shall immediately pay the Deposit to the
      Seller. Upon payment of the Deposit to the Seller, the Parties shall have no
      further rights or liabilities under this Agreement except for those provisions
      which specifically provide that they survive the termination of this
      Agreement.

     

    11.3   Termination
      by Mutual Consent.
      This
      Agreement may be terminated at any time prior to the Closing, by mutual written
      consent of the Parties, in which case the Parties shall jointly
      instruct the Escrow Agent to return the Deposit to the Purchaser and the Parties
      shall have no further rights or liabilities under this Agreement except for
      those provision which specifically provide that they survive the termination
      of
      this Agreement.

     

    
      
        
          
          

        

        
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            10 -

          
            

          

        

        
          
          

        

      

    

     

    11.4   Indemnity.

     

    A.    Effective
      upon and following the Closing, the Seller shall indemnify the Purchaser, its
      Affiliates and its and their respective partners, officers, directors,
      employees, agents and representatives (each a “Purchaser Indemnified Party”) and
      hold each of them harmless against any out-of-pocket damages, costs,
      liabilities, losses, judgments, taxes, penalties, fines, expenses or other
      costs, including reasonable attorney’s fees, costs of defense and costs of
      collection but not lost profits, consequential damages or punitive damages
      (collectively, “Losses”) incurred by the Purchaser Indemnified Parties with
      respect to: (i) any breach of any of the representations and warranties made
      by
      the Seller in this Agreement; and (ii) any breach of the covenants and
      agreements made by the Seller in this Agreement or any of the Closing Documents;
      provided, however, that (x) no amounts shall be payable by the Seller unless
      and
      until the aggregate amount otherwise payable by the Seller in the absence of
      this clause exceeds the sum of One Hundred Thousand Dollars ($100,000) (the
      “Deductible”), in which event the Seller shall be liable to the Purchaser for
      the amount (if any) in excess of the Deductible up to a maximum amount not
      to
      exceed twenty percent (20%) of the Closing Payment; provided, however, with
      respect to any defect in Seller’s title to the Interest or liens or claims upon
      the Interest at the time of Closing, Seller shall be liable to the Purchaser
      for
      damages not to exceed the amount of the Closing Payment. All representations
      and
      warranties shall terminate twelve (12) months after Closing if no written claim
      has been made.

     

    B.    Effective
      upon and following the Closing, the Purchaser shall indemnify the Seller, its
      Affiliates and its and their respective partners, officers, directors,
      employees, agents and representatives (each a “Seller Indemnified Party”) and
      hold each of them harmless against any Losses incurred by the Seller Indemnified
      Parties with respect to: (i) any breach of any of the representations and
      warranties made by the Purchaser in this Agreement; and (ii) any breach of
      the
      covenants and agreements made by the Purchaser in this Agreement or any of
      the
      Closing Documents; provided, however, that (x) no amounts shall be payable
      by
      the Purchaser unless and until the aggregate amount otherwise payable by the
      Purchaser in the absence of this clause exceeds the sum of the Deductible,
      in
      which event the Purchaser shall be liable to Seller for the amount (if any)
      in
      excess of the Deductible up to a maximum amount not to exceed twenty percent
      (20%) of the Closing Payment. All representations and warranties shall terminate
      twelve (12) months after Closing if no written claim has been made.

     

    C.    Effective
      upon and following the Closing, the Purchaser shall also indemnify the Seller
      Indemnified Parties, and hold each of them harmless from and against any and
      all
      Losses incurred by the Seller Indemnified Parties with respect to or under
      the
      Franchise Agreement and the Mortgage Debt and any liability which Seller may
      have or incur thereunder, and which Purchaser has not caused to be fully
      released effective as of the Closing, including, without limitation, any such
      liability which Seller may incur as a result of any claims, demands, or suits
      asserted against Seller by Mortgage Lender, Franchisor, Manager or any other
      party, together with interest and penalties thereon, and all costs, expenses
      and
      fees incurred in defending any such claim, suit or action, including reasonable
      attorneys’ fees at trial and appellate court levels. The
      Parties acknowledge that until Closing, the Partnership Agreement shall govern
      the liability of the Parties, but as of Closing Purchaser shall indemnify Seller
      as provided herein. This provision shall survive Closing.

     

    
      
        
          
          

        

        
          -
            11 -

          
            

          

        

        
          
          

        

      

    

     

    11.5   Indemnification
      Procedures.
      Upon
      the occurrence of any event giving rise to a claim for indemnification (an
      “Indemnification Claim”) under any provision of this Agreement or any Closing
      Document, the Party seeking indemnification (the “Indemnified Party”) shall
      promptly notify the other Party (the “Indemnitor”) of such Indemnification Claim
      and provide the Indemnitor with copies of any documents describing or otherwise
      bearing on the subject matter of such indemnification obligation; provided,
      however, that the failure to notify Indemnitor shall not relieve Indemnitor
      from
      any liability which Indemnitor may have under the Indemnification Claim except
      to the extent that it has been materially prejudiced by such failure. Indemnitor
      shall be entitled to participate in any pending or threatened claim, action,
      suit or proceeding in respect of the Indemnification Claim and, to the extent
      that it wishes, assume the defense thereof with counsel reasonably satisfactory
      to the Indemnified Party. 

     

    The
      Indemnitor will not settle or compromise or consent to the entry of any judgment
      in any pending or threatened claim, action, suit or proceeding in respect of
      the
      Indemnification Claim unless, (i) Indemnitor shall have given the Indemnified
      Party reasonable prior written notice thereof and shall have obtained an
      unconditional release of the Indemnified Party from all liability arising out
      of
      such claim, action, suit or proceeding, or (ii) Indemnitor reaffirms in writing
      its indemnity obligations hereunder regardless of Applicable Laws to the
      contrary. As long as Indemnitor has complied with its obligations to defend
      and
      indemnify, Indemnitor shall not be liable for any settlement made by the
      Indemnified Party without the consent of Indemnitor (which consent shall not
      be
      unreasonably withheld or delayed).

     

    ARTICLE
      12

     

    MISCELLANEOUS
      PROVISIONS

     

    12.1   Notices.
      All
      notices shall be given by certified mail, overnight delivery service,
      telecopier, or hand delivery, and addressed as follows:

     

    

    If
      to the
      Seller:

    

    CNL
      Hospitality Partners, LP

    c/o
      CNL
      Hospitality Corp.

    420
      South
      Orange Avenue

    Suite
      700

    Orlando,
      FL 32801

    Attention:
      Mr. Marcel Verbaas

    Fax:
      407-540-2702

    

    
      
        
          
          

        

        
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            12 -

          
            

          

        

        
          
          

        

      

    

     

    With
      a
      copy to:

     

    Richard
      J. Fildes, Esq.

    Lowndes,
      Drosdick, Doster, Kantor & Reed, P.A.

    215
      North
      Eola Drive

    Orlando,
      Florida 32801

    Fax:
      407-843-4444

     

    If
      to
      Purchaser:

     

    Hersha
      Hospitality Limited Partnership

    148
      Sheraton Drive

    Box
      A

    New
      Cumberland, PA 17070

    Attention:
      Mr. Hasu P. Shah

    Fax:
      717-974-7383

     

    With
      a
      copy to:

     

    Shah
      & Byler, LLP

    510
      Walnut Street, 9th
      Floor

    Philadelphia,
      PA 19106

    Attention:
      Lok Mahapatra, Esquire

    Fax:
      267-238-1874

     

    12.2   Availability
      of Counsel.
      Each of
      the parties acknowledges that it has reviewed this Agreement with independent
      legal counsel of its choosing or has waived its right to do so. The Parties
      acknowledge that this Agreement has been negotiated and that each of them has
      had equal input as to the drafting and construction of this Agreement and,
      accordingly, the Parties intend that a court construing this Agreement shall
      not
      construe it more strictly against either of them for any reason
      whatsoever.

     

    12.3   Survival.
      The
      provisions of this Agreement, including, without limitation, Section 11.4(c),
      other than the obligations of the Parties to be fulfilled at the Closing, will
      survive the Closing and remain fully enforceable. Representations and warranties
      shall survive for a period of twelve (12) months from the Closing.

     

    12.4   Severability.
      If any
      provision of this Agreement is determined by appropriate judicial authority
      to
      be illegal or otherwise unenforceable, such provision shall be given its nearest
      legal meaning or otherwise be construed as such authority determines, and the
      remainder of this Agreement shall remain in full force and effect.

     

    12.5   Binding
      Effect.
      This
      Agreement is binding upon and shall inure to the benefit of the Parties and
      their successors and the permitted assigns of the Purchaser. The Purchaser
      may
      not assign this Agreement, except to an affiliate of the Purchaser; provided
      that the assignee assumes the obligations of the Purchaser hereunder and
      provided Purchaser shall remain jointly liable for all obligations of Purchaser
      hereunder before and following Closing. Notwithstanding the foregoing, any
      permitted assignment by Purchaser shall not relieve the Purchaser of any of
      its
      obligations under this Agreement. Seller may not assign this
      Agreement.

     

    
      
        
          
          

        

        
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            13 -

          
            

          

        

        
          
          

        

      

    

     

    12.6   Entire
      Agreement.
      This
      Agreement contains the entire agreement (including the representations and
      warranties) between the Parties pertaining to the subject matter set forth
      herein and the Parties have not made any representations or warranties to each
      other, either oral or written, other than those contained herein or in the
      documents contemplated hereunder. This Agreement may not be amended or otherwise
      modified, except by a writing executed by both of the Parties.

     

    12.7   Brokers.
      Each of
      the Parties represents and warrants that it has not contracted for the services
      of any brokers in connection with this Agreement, and each of such Parties
      shall
      indemnify, defend and hold the other Party harmless from any damages (including
      attorney’s fees and costs) in the event that any claim is made against such
      other Parties on account of any services provided by a broker hired by the
      indemnifying Parties.

     

    12.8   Public
      Announcements.
      Each of
      the Parties shall have the right to make a public announcement regarding the
      transaction described in this Agreement, provided, however, that, prior to
      and
      as a condition precedent to such public announcement, the other Party shall
      approve the timing, form and substance of any such public announcement, except
      if any of the Parties is required to make a public announcement under any
      securities law, the Party making such public announcement may do so only after
      having provided the other Party with a copy of such public announcement and
      only
      as long as such public announcement is made in strict accordance with the
      applicable law requiring such public announcement be made. Further the Purchaser
      and the Seller may also make such other disclosures to their respective
      officers, directors, partners, legal counsel, advisors and accountants and
      other
      service providers with a need to know and as may be required by applicable
      law.
      In all other respects, the Parties agree that this Agreement shall be
      confidential and neither Party may make any disclosures or announcements
      concerning the same without the prior written consent of the other
      Party.

     

    12.9   Governing
      Law.
      This
      Agreement shall be construed under, and governed by, the Applicable Laws without
      regard to its conflict of laws principles.

     

    12.10        
      Jurisdiction
      and Venue.
      Each
      Party hereto agrees and submits to the personal jurisdiction of the state and
      federal courts sitting in the State of Delaware. The Parties further agree
      that
      all disputes and causes of action arising out of this Agreement shall be
      resolved in the state courts of Delaware, and each Party hereby waives all
      questions of personal jurisdiction and venue of such courts, including, without
      limitation, the claim or defense therein that such courts constitute an
      inconvenient forum.

     

    12.11        
      Attorney
      Fees.
      In any
      action or proceeding between any of the Parties regarding this Agreement or
      its
      enforcement, the prevailing party in such action or proceeding shall be entitled
      to collect and recover from the non-prevailing Party or Parties all costs of
      such action or proceeding incurred by such prevailing Party, including, but
      not
      limited to, reasonable attorney fees and costs through all levels of
      proceedings, including appeals.

     

    12.12        
      Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be deemed an
      original and all of which shall together constitute one and the same instrument.
      A facsimile, telecopy or other reproduction of this Agreement may be executed
      by
      the Parties (in counterparts or otherwise). Signatures received through
      facsimile transmission shall
      bind the Party whose signature is so received as if such signature were an
      original. At the request of any Party, the parties hereto agree to execute
      an
      original of this Agreement as well as any facsimile, telecopy or other
      reproduction.

     

    
      
        
          
          

        

        
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            14 -

          
            

          

        

        
          
          

        

      

    

     

    12.13         No
      Third Party Beneficiaries.
      No
      Person other than Seller and Purchaser is intended to be a beneficiary of the
      rights and obligations of either Seller or Purchaser under this
      Agreement.

     

     

    (THE
      REMAINDER OF THIS PAGE WAS LEFT BLANK INTENTIONALLY; THE PARTIES’ SIGNATURES ARE
      ON THE FOLLOWING PAGE)

     

    
      
        
          
          

        

        
          -
            15 -

          
            

          

        

        
          
          

        

      

    

     

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

     

    
      	 	
              SELLER:
                

               

              CNL
                HOSPITALITY PARTNERS, LP,

              a
                Delaware limited partnership

               

              By:
                CNL Hospitality GP Corp.,

              its
                general partner

               

            
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 
	 	 

    

     

    

      
        	 	
                PURCHASER:

                 

              
	 	
                HERSHA
                  HOSPITALITY LIMITED PARTNERSHIP,
                  a
                  limited partnership formed under the laws of the Commonwealth of
                  Virginia

                 

              
	 	
                By:
                  Hersha Hospitality Trust, a Maryland Business
                  Trust, its general partner

                 

              
	 	
                By:

              	 
	 	
                Name:

              	 
	 	
                Title:

              	 

      

    

     

     

    JOINDER
      OF ESCROW AGENT

     

    Escrow
      Agent hereby joins in the execution of this Agreement solely for the purpose
      of
      acknowledging and agreeing to the provisions of Section 3.6 hereof.

     

    
      	 	
              Lowndes,
                Drosdick, Doster, Kantor & Reed, P.A.
                (“Escrow Agent”)

               

               

            
	 	
              By:
                Richard J. Fildes

            

    

     

    
      
        
          
          

        

        
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            16 -

          
            

          

        

        
          
          

        

      

    

    

    EXHIBIT
      “A”

     

    ASSIGNMENT
      OF LIMITED PARTNERSHIP INTEREST IN LIMITED PARTNERSHIP

    (HT/CNL
      METRO HOTELS, L.P.)

     

    THIS
      ASSIGNMENT OF LIMITED PARTNERSHIP INTEREST
      (the
“Assignment”) is made and executed as of the _____ day of _________________,
      2006 by CNL
      HOSPITALITY PARTNERS, LP,
      a
      Delaware limited partnership (hereinafter referred to as “Assignor”), to and in
      favor of __________________________________________________,
      a
      __________________________________________ (hereinafter referred to as
“Assignee”);

     

    W
      I T N E S S E T H:

     

    WHEREAS,
      Assignor owns a sixty-six and 66.7/100 percent (66.667%) limited partnership
      interest in HT/CNL Metro Hotels, L.P., a Delaware limited partnership
      (hereinafter referred to as the “Partnership”); and

     

    WHEREAS,
      Assignor has agreed to transfer its entire sixty-six and 66.7/100 percent
      (66.667%) interest in the Partnership to Assignee;

     

    NOW,
      THEREFORE, FOR AND IN CONSIDERATION
      of the
      sum of ____________________________________ Dollars and No/100
      ($_______________), and other good and valuable consideration, the receipt
      and
      sufficiency of which is hereby acknowledged, Assignor hereby grants, bargains,
      sells, transfers, assigns and conveys unto Assignee, absolutely, and not as
      security or upon any condition, its entire sixty-six and 66.7/100 percent
      (66.667%) limited partnership interest in the Partnership and all of Assignor’s
      other rights, title and interest in the Partnership, including, but not limited
      to, Assignor’s rights to distributions, capital accounts and equity
      interests.

     

    TO
      HAVE AND TO HOLD
      until
      Assignee and its successors and assigns forever;

    

    
      
        
          
          

        

        
          -
            1 -

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      Assignor has caused these presents to be executed in manner and form sufficient
      to bind them as of the date first written above.

     

    

      
        	
                Witnesses:

              	
                CNL
                  HOSPITALITY PARTNERS, LP,
                  a
                  

                Delaware
                  limited partnership

                 

              
	 	
                By: 
                  CNL
                  Hospitality GP Corp., a Delaware 

              
	
                Name:

              	 	
                corp.,
                  its general partner

              

      

      

      
        	
                 

              	
                By:

              	 
	
                Name:

              	
                 

              	
                Name:

              	 
	 	
                Title:

              	 

      

    

     

    
      
        
          
          

        

        
          -
            2 -

          
            

          

        

        
          
          

        

      

    

     

    
      ACCEPTANCE
        OF ASSIGNMENT AGREEMENT

       

      The
        undersigned Assignee hereby accepts the foregoing Assignment.

       

      
        	 	 
	 	 
	 	
                By:

              	 

      

      

      
        	 	 
	 	 	
                By:

              	 
	 	 	
                Name:

              	 
	 	 	
                Title:

              	 

      

    

     

    
      
        
          
          

        

        
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            3 -

          
            

          

        

        
          
          

        

      

    

    

    EXHIBIT
      “B-1”

     

    CERTIFICATE
      OF REPRESENTATIONS AND WARRANTIES

    OF
      SELLER

     

    This
      Certificate of Representations and Warranties of Seller (“Certificate”)
      is
      given pursuant to Article 8 of that certain Purchase and Sale Agreement (the
      “Purchase
      Agreement”)
      dated
      as of the _____ day of ________________, 2006, by and between CNL
      HOSPITALITY PARTNERS, LP,
      a
      Delaware limited partnership (“Seller”),
      and
HERSHA
      HOSPITALITY LIMITED PARTNERSHIP,
      a
      limited partnership organized under the laws of the Commonwealth of Virginia
      (“Purchaser”).
      Seller hereby certifies to Purchaser that as of the date hereof, the
      representations and warranties of Seller set forth in Article 5 of the Purchase
      Agreement are true and correct in all material respects as though made at and
      as
      of the date hereof.

     

    IN
      WITNESS WHEREOF,
      Seller
      has executed this Certificate in the Purchase Agreement this _____ day of
      _____________________, 2006.

     

    
      	
              Signed,
                sealed and delivered in the

              Presence
                of the following witnesses:

            	
              CNL
                HOSPITALITY PARTNERS, LP,
                

              a
                Delaware limited partnership

               

            
	 	
              By: 
                CNL
                Hospitality GP Corp., a Delaware 

            
	 	
              corp.,
                its general partner

            
	
              Signature
                of Witness

            	 
	 	 
	
              Printed
                Name of Witness

            	 	
              By:

            	 
	 	 	
              Name:

            	 
	 	 	
              Title:

            	 
	 	 
	
              Signature
                of Witness

            	 
	
               

            	 
	
              Printed
                Name of Witness

            	 

    

     

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    EXHIBIT
      “B-2”

     

    CERTIFICATE
      OF REPRESENTATIONS AND WARRANTIES OF PURCHASER

     

    This
      Certificate of Representations and Warranties of Purchaser (“Certificate”)
      is
      given pursuant to Article 8 of that certain Purchase and Sale Agreement (the
      “Purchase
      Agreement”)
      dated
      as of the _____ day of ________________, 2006, by and between HERSHA
      HOSPITALITY LIMITED PARTNERSHIP,
      a
      limited partnership organized under the laws of the commonwealth of Virginia
      (“Purchaser”),
      and
CNL
      HOSPITALITY PARTNERS, LP,
      a
      Delaware limited partnership (“Seller”).
      Purchaser hereby certifies to Seller that as of the date hereof, the
      representations and warranties of Purchaser set forth in Article 6 of the
      Purchase Agreement are true and correct in all material respects as though
      made
      at and as of the date hereof.

     

    IN
      WITNESS WHEREOF,
      Purchaser has executed this Certificate in the Purchase Agreement this _____
      day
      of _____________________, 2006.

     

    
      	
              Signed,
                sealed and delivered in the

              Presence
                of the following witnesses:

            	
              PURCHASER:

               

              HERSHA
                HOSPITALITY LIMITED PARTNERSHIP,
                a
                limited partnership formed under the laws of the Commonwealth of
                Virginia

               

            
	
              Signature
                of Witness

            	 
	 	
              By:
                Hersha Hospitality Trust, 

              its
                general partner

            
	
              Printed
                Name of Witness

            	 
	 	 	
              By:

            	 
	 	 	
              Name:

            	 
	
              Signature
                of Witness

            	 	
              Title:

            	 
	 	 
	
              Printed
                Name of Witness

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