Document:

Exhibit 10.183

	
	SECOND AMENDMENT TO CONTRIBUTION AGREEMENT
This SECOND AMENDMENT TO CONTRIBUTION AGREEMENT (this
“Amendment”) is made as of the 3rd day of March 2022 (the “Amendment Date”) by and among
Lodging Fund REIT III OP, LP, a Delaware limited partnership (the “Operating Partnership”), and
RLC-VI Lakewood, LLC, a Colorado limited liability company (the “Contributor”).
WHEREAS, Contributor and Operating Partnership entered into that certain Contribution
Agreement dated December 30, 2021 as amended (the “Agreement”) for the contribution of a 142-
room hotel business known as the Fairfield Inn & Suites Denver Southwest Lakewood located at
3605 S. Wadsworth Boulevard, Lakewood, Colorado 80235-2012 (the “Property”);
WHEREAS, during the course of Operating Partnership’s due diligence studies, the
Operating Partnership has realized that it will need an extension to the Due Diligence Period (as
defined in the Agreement).
NOW THEREFORE, for valuable consideration, the receipt of which is hereby
acknowledged, the parties agree as follows:
1. Capitalization.  All capitalized terms used herein will have the meanings ascribed
to those terms in the Agreement, unless otherwise specified herein.
2. Due Diligence Period. Section 2.17.1 shall remain in full force and effect except
that the Due Diligence Period shall now extend until 11:59 PM EST on March 10, 2022.
3. Conflict; Counterparts.  In the event of any conflict between the terms of this
Amendment and the Agreement, this Amendment shall control. This Amendment may be executed
in multiple counterparts via facsimile or email in .PDF format, each of which shall be deemed to
be an original, but such counterparts when taken together shall constitute but one Amendment.
4. Successors and Assigns.  This Amendment shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors, administrators, and assigns.
5. Ratification.  Except as set forth above, the terms of the Agreement are hereby
ratified and confirmed in their entirety.
[Signature Page to Follow] 

	
	IN WITNESS WHEREOF, this Amendment has been duly executed by the parties hereto
as of the day and year first above written.
SELLER:
RLC-VI Lakewood, LLC
a Colorado limited liability company
By: -----------
Stephen Mills, Manager
[OPERATING PARTNERSHIP'S SIGNATURE PAGE TO FOLLOW]
/s/ Stephen Mills

	
	OPERATING PARTNERSHIP:
LODGING FUND REIT III OP, LP
A Delaware limited partnership
By: Lodging Fund REIT III, Inc.
Its: General Partner
By:
Name:  David R. Durell
Title:  Chief Investment Officer
/s/ David DurellExhibit 10.184

	
	THIRD AMENDMENT TO CONTRIBUTION AGREEMENT
This THIRD AMENDMENT TO CONTRIBUTION AGREEMENT (this “Amendment”)
is made as of the 15th day of March 2022 (the “Amendment Date”) by and among Lodging Fund
REIT III OP, LP, a Delaware limited  partnership (the “Operating Partnership”), and RLC-VI
Lakewood, LLC, a Colorado limited liability company (the “Contributor”).
WHEREAS, Contributor and Operating Partnership entered into that certain Contribution
Agreement dated December 30, 2021 as amended by the First Amendment to Contribution
Agreement dated February 23, 2022 and as amended by the Second Amendment to Contribution
Agreement dated March 3, 2022 (collectively, the “Agreement”) for the contribution of a 142-
room hotel business known as the Fairfield Inn & Suites Denver Southwest Lakewood located at
3605 S. Wadsworth Boulevard, Lakewood, Colorado 80235-2012 (the “Property”);
WHEREAS, during the course of Operating Partnership and Contributor each desire to
transact the Property, but only under the terms of the Agreement as amended by this Amendment.
NOW THEREFORE, for valuable consideration, the receipt of which is hereby
acknowledged, the parties agree as follows:
1. Reinstatement. The Agreement as of the Amendment Date is reinstated and is in
full force and effect.
2. Capitalization.  All capitalized terms used herein will have the meanings ascribed
to those terms in the Agreement, unless otherwise specified herein.
3. Notice of Satisfaction. The Operating Partnership has completed its Due Diligence
Review and is willing to proceed toward Closing, under the current terms of the Agreement and
the following additional closing conditions:
a. Access to Certain Persons.   Contributor expressly consents to allowing the
Operating Partnership to have direct access to the current Franchisor, any local
municipality or governing agency, Contributor’s lender, and all contractors,
sub-contractors, general contracts, or vendors  connected with renovation or
opening of the Property for purposes of completing the transactions
contemplated by this Agreement.
4. Representations and Warranties of the Contributor. In addition to the existing
representations and warranties in Section 4.2 of the Agreement, the following representations and
warranties are made by the Contributor to Contributor’s actual Knowledge, whereby such actual
knowledge, includes the actual knowledge of Stephen Mills and Phil Hutchins, the persons most
knowledgeable associated with Contributor concerning these matters:
a. 2.1 Contribution of Property. The following sentence shall be added as the last
sentence in Section 2.1:

	
	“Unless otherwise agreed to in writing by the Operating Partnership,  or
disclosed to the Operating Partnership in any disclosure schedule or written
reports or received by the Operating Partnership prior to the Closing Date,  if,
within nine (9) months of the Closing Date, the Operating Partnership  discovers
any such property defect, the parties shall have until the date which is 12 months
from the Closing Date to cure such defect, or begin the process to cure.  If it is
reasonably determined that such property defect is in breach of any
representation or warranty or any covenant of Contributor, and as a result of
such breach requires additional capital expenditures, either (i) Contributor may
elect to make such expenditure to cure defect, or (ii) if Contributor elects to not
do so and the cure is instead made by the Operating Partnership, such additional
capital expenditures shall be subject to the following formula at the time of
conversion. Any available equity at the time of conversion will be offset 1.75:1
of actual costs incurred by the Operating Partnership in favor of the Operating
Partnership. For the avoidance of doubt, if due to  an undisclosed property
defect, the Operating Partnership incurs $1,000 in corrective action costs and
expenses, $1,750 will be offset against the conversion formula available equity.
The foregoing is referred to as the “Cash Deficit Conversion” formula. A
“property defect” is undisclosed to the extent it was not known to the Operating
Partnership before Closing or disclosed to the Operating Partnership by
Contributor or in any reports delivered to the Operating Partnership, including
reports commissioned by the Operating Partnership and delivered to it by third
parties. Only if such offset is inconsistent with (ii) herein, then Operating
Partnership will provide ten (10) days’ notice prior to making any proposed
offset; such notice shall consist of  when the Operating Partnership first
identified any alleged defects and provide evidence of the costs and expenses
to remedy same.

b. 2.16 Title. The following sentence shall be added as the last sentence in Section
2.16:

“If the Operating Partnership cures a monetary defect (e.g. a lien or claim) under
this Section  2.16 at any time prior or within nine (9) months of Closing  in
connection with the Contributor’s ownership, and provided that the monetary
defect was not disclosed in any Commitment or Preliminary Title Report
delivered prior to the date of this Amendment, then the amount paid to cure this
defect shall be offset using the Cash Deficit Conversion, which shall apply to
any amounts paid by the Operating Partnership. Not less than ten (10) days prior
to making any proposed offset, the Operating Partnership shall notify the
Contributor in writing identifying the monetary defects and provide Contributor
with evidence of the costs and expenses to remedy same, for the avoidance of
doubt, this notice provision shall only apply if at the time of the offset, the defect
subject to such offset, is inconsistent with the defect discovered in the survival
period of this Section 2.16.
 

	
	The Operating Partnership acknowledges that as of the date of this Amendment, it has
received and approved the Preliminary Title Report and copies of all the documents
referred to in Schedule B of the Preliminary Title Report and that it has provided its
objections thereto.

c. 4.2.16 Compliance with Laws. The following sentence is added at the end of
Section 4.2.16:

“The Contributor represents and warrants to its actual Knowledge that the
certificate of completion provided to the Operating Partnership is the only
required certificate needed to open the Business and accept guests and the
Contributor’s certificate of occupancy remains in good standing.”

d. A new Section 4.2.35 Construction is hereby added after Section 4.2.34 to read
as follows:

“The attached Schedule 4.3.35 lists all vendors, contractors and entities which
have entered any existing contract for construction of the improvements on the
Property and provided any applicable warranty for the improvements on the
Property which shall transfer at Closing.  To Contributor’s Knowledge, except
as disclosed in writing to Operating Partnership prior to Closing by Contributor
or by Operating Partnership’s consultants, the work contemplated by any such
contractor or sub-contract has been completed in accordance with any such
construction documents, and such work was performed in a high-quality
manner. The costs to correct any defective work which is found to be in breach
of this representation and warranty shall be the responsibility of the Contributor.
Contributor warrants the quality, accuracy of completion, and workmanship of
any and all construction work, and such warranty shall survive Closing for nine
(9)  months to discover such defects, provided that the parties will have 12
months from the Closing Date to commence to perform actions to cure such
defect, or being the process to cure. Any requirement for Operating Partnership
to correct a construction defect (whether not a warranty exists) in breach of the
Contributor’s warranties in this Section 4.2.35, will be treated as an offset and
the amounts paid will be subject to the Cash Deficit Conversion formula,
described in 2.1 above.  As transferee of the warrantees and contracts listed on
Schedule 4.3.35, Operating Partnership shall take all action necessary and pay
the cost of enforcing such warrantees and Contributor shall only be responsible
for the costs of correcting defective work which is not covered by such
warrantees provided that the contracts transferring such warrantees were
provided to the Operating Partnership.

5. Closing. The parties acknowledge the substantial likelihood that: (A) issuance of
the finally approved franchise agreement will not occur by March 22, 2022; and (B) the source of
the funds which Contributor intends to use to pay off its outstanding accounts payable are the
proceeds of an SBA loan which will likely not fund by March 22, 2020.  Notwithstanding the
rights of either party, including to extensions, or Contributor obligations found under section 3.2 

	
	(Time and Place) the Operating Partnership and Contributor will endeavor to close this transaction
by March 22, 2022.   Prior to Closing, the parties will try to negotiate an alternative solution to the
SBA funding to satisfy the Contributor’s accounts payable obligations at or prior to Closing; if
they are unable to reach a mutually acceptable agreement, an affiliate of the Operating Partnership
may lend the Contributor funds to satisfy its account payable  obligations at  Closing.
Notwithstanding the foregoing, if franchisor’s final approval of the franchise agreement has not
been received by March 21, 2022 or if the Affiliate loan to Contributor has not been arranged and
closed by March 21, 2022, the Operating Partnership may unilaterally extend Closing to April 20,
2022, by providing a written notice (email sufficient) as a result the Franchisor’s “black-out”
periods causing an inability timely execute the Franchise Agreement.

6. Conflict; Counterparts.  In the event of any conflict between the terms of this
Amendment and the Agreement, this Amendment shall control. This Amendment may be executed
in multiple counterparts via facsimile or email in .PDF format, each of which shall be deemed to
be an original, but such counterparts when taken together shall constitute but one Amendment.

7. Successors and Assigns.  This Amendment shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors, administrators, and assigns.

8. Ratification.  Except as set forth above, the terms of the Agreement are hereby
ratified and confirmed in their entirety.

[Signature Page to Follow]

 

	
	IN WITNESS WHEREOF, this Amendment has been duly executed by the parties hereto
as of the day and year first above written.
SELLER:
RLC-VI Lakewood, LLC
a Colorado limited liability company
By: _________ _
Stephen Mills, Manager
[OPERATING PARTNERSHIP'S SIGNATURE PAGE TO FOLLOW]
/s/ Stephen Mills

	
	OPERATING PARTNERSHIP:
LODGING FUND REIT III OP, LP
A Delaware limited partnership
By: Lodging Fund REIT III, Inc.
Its: General Partner
By:
Name:  David R. Durell
Title:  Chief Investment Officer
/s/ David Durell

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