Document:

HOTEL MANAGEMENT AGREEMENT

        
        (______________)

         

        
        THIS “AGREEMENT” is made and entered into as
        of __________, 2008, by and between CRI HOTEL INCOME PARTNERS,
        L. P., a Delaware limited partnership (“Owner”), and OAK HOTELS,
        INC., a Delaware corporation (“Operator”).

         

        
        RECITALS:

         

        
        WHEREAS, Owner owns that certain ___ unit hotel located
        in _______________ (the “Hotel”);

         

        
        WHEREAS, contemporaneously herewith the Owner has been
        designated as the Licensee of that certain Days Inn franchise granted by Days Inn
        Worldwide, Inc. (“DIW”) with respect to the Hotel;

         

        
        WHEREAS, Owner desires to obtain the benefits of
        Operator’s expertise in the management and operation of such Hotel as a Days Inn
        hotel; and

         

        
        WHEREAS, Operator is experienced in operating hotels as a
        DIW licensee and desires to operate the Hotel as a Days Inn hotel in accordance with the
        standards of the Days Inn System and the terms and conditions set forth in this
        Agreement.

         

        
        NOW, THEREFORE, in consideration of the mutual promises
        and covenants herein contained, Owner and Operator agree as follows:

         

        	
                    
                    1.

                	
                    
                    ENGAGEMENT OF
                    OPERATOR.

                

         

        
        1.1 Operator’s
        Hiring. Owner hereby engages Operator to manage the Hotel as a Days Inn System Hotel,
        in the name and for the account of Owner, on an exclusive basis. Operator shall operate the
        Hotel in a businesslike and efficient manner for the purpose of maximizing the long-term
        profitability of the Hotel to the Owner consistent with reasonable business judgment and
        shall use Hotel solely for the operation of a Days Inn Hotel. Operator shall operate the
        Hotel at a standard of operations and maintenance of physical condition that is equal to or
        better than the standard of operations and maintenance of physical condition, subject to
        Owner’s and Operator’s obligations under this Agreement, on the effective date
        set forth above and achieves no more than a score of 400 on the DIW Quality Assurance
        Scoring System or the equivalent in a successor system.

         

        
        1.2 Days Inn. Operator
        represents and warrants that Operator has the right to identify and manage the Hotel under
        the distinctive “System” operated under the Days Inn “Marks” and
        “Standards.”

         

        
        1.3 License. Owner
        represents and warrants that it has the right as of the date hereof to utilize its limited,
        non-exclusive “License” to operate the Hotel using the System, but only at the
        specified “Location” and no other, during the Term.

         

        
        1.4 The Hotel. The Hotel
        shall include the land at ______________________________________________(the
        “Location”) and all improvements, structures, furniture, fixtures and equipment
        (the last 3 collectively, “F/F/E”), appurtenances,
        facilities, entry/exit rights, parking, amenities, and
        related rights, privileges and properties existing, to be constructed thereon, or
        subsequently added during the Term.

        
         

        
        

        

         

        	
                    
                    2.

                	
                    
                    TERM.

                

         

        
        The initial term of this Agreement shall be a period of
        _______ (__) years and _______ (__) months, commencing at 12:01 a.m. on the ______________,
        2008 and terminating at midnight on December 31, 2016. This Agreement may thereafter be
        renewed by Owner, at its option, on the same terms and conditions as set forth herein for
        an additional term of ______________ by giving written notice thereof to the Operator at
        least six (6) months prior to the expiration of the initial term. The “Term” is
        the initial term and any renewal term.

        
         

        	
                    
                    3.

                	
                    
                    OPERATOR’S MANAGEMENT OF
                    HOTEL.

                

         

        
        3.1 General Policies. As
        manager of the Hotel, in the name and for the account of Owner, Operator shall have full
        policy-making and executive decision-making authority and responsibility for the operation,
        direction, management and supervision of the Hotel, subject to the terms of this Agreement.
        Operator’s authority and responsibility shall include without limitation the
        following:

         

        	
                    
                    (a)

                	
                    
                    Determination of Hotel policies
                    regarding:

                

         

        
        (i) Subject to the provisions of Section 3.2(b), labor
        and personnel matters, including the recruiting, selection, hiring, compensation, training
        and discharge of all Hotel Employees, entering into employment contracts, and negotiating
        collective bargaining agreements and executing the same, if necessary, as Owner’s
        representative (with Owner’s prior written approval), with any applicable labor union
        or organization;

         

        
        (ii) Credit card acceptance, including entering into
        agreements with credit card issuers, service organizations and financial institutions for
        recognition and processing;

         

        
        (iii) Terms of admittance, including rates for rooms and
        services, telephone rebilling, and vending machine prices;

         

        
        (iv) Amusement, recreation and entertainment services and
        prices; and,

         

        
        (v) Food and beverage services and prices, and
        concessions and space or function leasing, provided that no new food and beverage services
        may be offered without Owner’s approval;

         

        
        (b) Subject to the provisions of Section 11, making or
        supervising all additions to and improvements to the Hotel; and

         

        
        (c)        Direction
        of all phases of sales, marketing, advertising and promotion relating to the
        Hotel.

         

        
        3.2 Operator’s
        Services. Operator shall supervise, manage and direct in Owner’s name the
        operation of the Hotel in accordance with the Days Inn System Standards (as described in
        Section 9.4), consistent with prudent management practices and the Hotel’s
        facilities, subject to the terms of this Agreement and in accordance with the Annual
        Budget. Operator undertakes to do and perform,
        and Owner authorizes Operator to act on its behalf and to perform in such capacity, to the
        extent and at the times Operator deems appropriate, solely with funds from the Hotel, which
        performance includes but is not limited to the following actions:

         

        
        2

        
        

        

         

        
        (a) Participate in Days Inn System marketing programs
        intended to attract guests, tenants and other customers for the Hotel;

         

        
        (b) Employ, direct, determine and pay compensation of
        (including wages, salaries, payroll taxes and benefits), and control and discharge, as the
        case may be, all personnel performing regular services at the Hotel (“Hotel
        Employee(s)”). Each Hotel Employee shall be the employee of Operator and not of
        Owner, all as more particularly set forth in Section 4.2 herein. Notwithstanding the
        foregoing, Operator shall not hire, dismiss or assign to or reassign from the Hotel an
        employee as the general manager, the food and beverage director, the marketing director or
        the controller, without prior approval of Owner, which shall be deemed given unless written
        objection is received by Operator within fifteen (15) business days after Owner receives
        the request of Operator and supporting material;

         

        
        (c) Establish and supervise an accounting function with
        appropriate Hotel accounting systems (consistent with Section 7.1 hereof and other Days Inn
        System hotels) and personnel (located at the Hotel or elsewhere), that will prepare and
        timely file all necessary reports and returns for federal, state and local withholding
        taxes, FICA and RITA taxes, unemployment insurance, disability insurance, and all other
        statements and reports pertaining to Hotel Employees, and provide all bookkeeping,
        accounting and clerical services for the Hotel;

         

        
        (d) Receive, consider and resolve the complaints of all
        guests, customers, tenants or users of any of the services or facilities of the
        Hotel;

         

        
        (e) Enter into, pay and perform in the name of and at the
        expense of Owner, all contracts, leases, concessions, licenses, permits and other
        undertakings for the operation of the Hotel, including without limitation those for
        furnishing telephone, cleaning (including window cleaning), vermin exterminating,
        escalator, elevator and boiler maintenance, heating, ventilation and air conditioning
        maintenance, cable television, premium in-room movie service, and other necessary utilities
        and services, and for the purchase, delivery, installation and repair of all F/F/E,
        inventories, materials and supplies required or permitted under this Agreement, provided
        that (i) any contract or lease for a term of more than one (1) year or reasonably expected
        to require the payment of $7,500 or more, and (ii) any land lease, shall be subject to
        Owner’s approval, which shall be deemed given unless written objection is received by
        Operator within fifteen (15) business days after Owner receives the request of Operator and
        a copy of the contract or lease proposed to be executed; Any contract tendered to Owner for
        its approval or signature to which Owner does not object will be completed, executed,
        delivered and returned in accordance with Operator’s instructions within fifteen (15)
        business days after receipt;

         

        
        (f) Arrange and contract for, at Owner’s expense
        and in the name of Owner, the acquisition, purchase, performance and installation of all
        alterations, repairs, replacements, restorations, F/F/E or installations which Operator
        considers to be necessary or desirable, all as more particularly set forth in Section
        11;

         

        
        3

        
        

        

         

        
        (g) Receive and collect all cash and accounts generated
        from the operation of the Hotel and its facilities, convert all accounts to cash, and
        deposit such sums, along with all funds furnished by Owner and all monies received by
        Operator for or on behalf of Owner, in the Project Account (defined in Section
        6);

         

        
        (h) In Owner’s name, pay and disburse on behalf and
        for the account of Owner, as required for the operation of the Hotel, taxes, assessments
        and charges of every kind imposed by any governmental authority having jurisdiction, as
        more particularly set forth in Section 13 herein, plus any interest and penalties thereon,
        provided that any interest or penalties caused by the fault of delay of Operator shall be
        paid by Operator from its own funds; license fees; premiums and appraisal fees on policies
        of insurance, as more particularly set forth in Section 12 herein; all other disbursements
        directly or indirectly authorized by this Agreement; and any other charge, item of expense
        or other item which Operator reasonably considers to be necessary or desirable for the
        operation of the Hotel, consistent with the Annual Budget, and not otherwise expressly
        limited under this Agreement, provided that Operator may not pay any amount which Owner
        after written notice to Operator actively contests or disputes in good faith until the
        contest or dispute is resolved and all appeals have been exhausted, unless continued
        failure to pay would in Operator’s reasonable judgment interfere materially with
        Hotel operations;

         

        
        (i) Arrange for an cause, at Owner’s expense,
        compliance by Hotel with all statutes, ordinances, laws, rules, regulations, orders and
        determinations affecting or issued in connection with the Hotel, by any governmental
        authority having jurisdiction, provided that any such compliance reasonably expected to
        require the expenditure of $7,500 or more shall be subject to Owner’s approval and
        that Operator may not proceed with such compliance if Owner after written notice to
        Operator actively contests or disputes in good faith the requirement for such compliance
        until the contest or dispute is resolved and all appeals have been exhausted, unless
        continued failure to pay could reasonably be expected to interfere materially with Hotel
        operations;

         

        
        (j) Institute and defend, in its own name and/or in the
        name of Owner, any necessary legal actions or proceedings to enforce contracts involving
        the Hotel, collect charges, rent or other income for the Hotel or to dispossess guests,
        tenants or other persons in possession or to cancel or terminate any lease or occupancy
        right for the breach thereof or default thereunder by the tenant, provided that
        Owner’s approval is required to institute and defend actions involving more than
        $7,500; any counsel engaged under this subsection shall be designated by Operator and shall
        be subject to Owner’s reasonable approval, provided that Owner may retain separate
        counsel to defend it in all proceedings in which it is separately named as a defendant; in
        Owner’s name pay all fines, judgments, settlements, penalties and court disbursements
        in such actions;

         

        
        (k) Cause the Hotel to comply with all the terms,
        conditions and obligations on Owner’s part contained in any insurance policy,
        mortgage or deed of trust, security agreement, lease or other agreement affecting the
        Hotel, an original or a conformed copy of which has been furnished to Operator at least
        five (5) business days before the date compliance is first expected; Owner shall notify
        Operator of any such mortgage, deed of trust, lease or other agreement, but Operator shall
        be deemed to have notice of any such document prepared, negotiated or executed by it or its
        Affiliates in connection with Hotel;

         

         

        
        4

        

        
        

        

        

         

         

        
        (l) File all reports with and supply all documents to
        Owner and, unless otherwise notified by Owner, pay all fees and charges as and when
        required under this Agreement and otherwise operate the Hotel in accordance with all
        applicable System Standards; and

         

        
        (m) Make all cash distributions as and when required by
        this Agreement to be made to Owner.

         

        
        3.2 Quarterly Meetings.
        Operator and Owner shall meet at the Hotel (or such other place as they may mutually agree)
        quarterly, or at such more frequent intervals as Operator or Owner may request, to review
        the performance of the Hotel, to discuss financial and management reports made by Operator
        to Owner, and to discuss management policies and other matters relating to the operation of
        the Hotel.

         

        
        3.3 Annual Budget and
        Business Plan. At least sixty (60) days prior to the expiration of each Fiscal Year,
        Operator shall prepare and deliver to owner an annual budget and business plan for
        operations of the Hotel for the Fiscal Year next commencing (the “Annual
        Budget”). Each Annual Budget shall include, without limitation, Operator’s
        marketing plan, forecast of revenues, room rates, expenses, cash flow, capital improvement
        requirements, and Replacement Reserve Fund requirements for the Hotel for such Fiscal Year,
        presented on a monthly basis. At the request of Owner given to Operator within thirty (30)
        days after tender of the budget, Operator’s representatives shall review such budget
        with Owner at the Hotel or a mutually agreeable location. If Owner shall disapprove or
        raise any objections to any proposed budget, and Operator and Owner are unable to resolve
        the disputed or objectionable matter prior to the commencement of the applicable Fiscal
        Year, the budget for the applicable Fiscal Year shall be the budget for the preceding
        Fiscal Year until such time as Owner shall have approved a new budget. With Owner’s
        written approval, Operator may revise the budget from time to time to reflect any
        unpredicted significant changes, variables or events or include significant additional
        unanticipated items of income or expense. Unbudgeted or unforecast expenditures unforeseen
        at the time of submission of the budget and reasonably deemed necessary by Operator in a
        bona fide emergency may be made without Owner’s prior authorization, except as
        provided in Section 3.2. Within the budget for each department but not among the budgets
        for separate departments, Operator may, without Owner’s approval, allocate up to
        twenty percent (20%) of any amount budgeted with respect to any item to another item,
        provided that Owner’s consent shall not be required to the extent that such
        allocations are necessary to make nondiscretionary payments. Operator shall not be deemed
        to have made any guarantee, warranty or representation whatsoever in connection with the
        budget. Owner acknowledges that each annual budget, including any forecasts of revenues,
        expenses and cash flow, is an estimate and is subject to and could be affected by changes
        in financial, economic and other conditions and circumstances beyond Operator’s
        control.

         

        
        3.5 Employee Meals and
        Lodging. Operator, in its reasonable discretion, may provide free or discounted meals
        to Hotel Employees in any restaurant that it operates on the premises of the Hotel, permit
        Hotel Employees to use other Hotel facilities, and with Owner’s written approval
        allow one member of the Hotel’s executive staff, designated by Operator, suitable
        living quarters within the Hotel and the use of all Hotel facilities, including food
        service in any restaurant that it operates on the premises of the Hotel, without
        charge.

         

        	
                    
                    3.6

                	
                    
                    Performance
                    Standards. Intentionally omitted.

                

         

         

        
        5

        
        

        

         

        
        3.7 Owner and Operator
        Designated Rates. Owner, Operator and their Affiliates may offer to their employees and
        contractors rooms and services of the Hotel at the lowest corporate rate of the Hotel as
        established from time to time.

         

        
        3.8 Temporary Closing of
        Hotel. If at any time after the Commencement Date it becomes necessary in
        Operator’s reasonable discretion to temporarily cease operation of all or any portion
        of the Hotel in order to protect the Hotel or the health, safety and welfare of the Hotel
        guests or Hotel Employees, then in such event Operator may temporarily close and cease
        operation of all or part of the Hotel, reopening and commencing operation when Operator, in
        its reasonable discretion, deems that such Hotel operations may be resumed without jeopardy
        to the Hotel, the Hotel guests or Hotel Employees, provided that such temporary closing
        shall not exceed two (2) days without Owner’s approval and shall not violate the
        terms of any deed of trust, security agreement, lease or other agreement affecting the
        Hotel. During any such temporary closing, Operator shall continue to maintain and supervise
        the operation of the Hotel as necessary to conserve Owner’s
        investment.

         

        	
                    
                    4.

                	
                    
                    REPRESENTATIVE
                    CAPACITY.

                

         

        
        4.1 Operator’s
        Status. Operator is an independent contractor. Operator shall have full power and
        authority to select the means, methods and manner of performing its obligations under this
        Agreement. In the performance of its duties as operator and manager of the Hotel, Operator
        shall act solely as the representative of Owner. Nothing herein shall constitute or be
        construed to be or create a partnership or joint venture between Owner and Operator, or be
        construed to create a lease by Owner to Operator of the Hotel. All debts and liabilities to
        third persons (except Hotel Employees) incurred by Operator pursuant to the terms of this
        Agreement, including the Annual Budget and contracting requirements imposed on Operator,
        shall be the debts and liabilities of Owner only, and Operator shall not be personally
        liable for any such obligations by reason of its management, supervision and direction of
        the operation of the Hotel. Operator may so inform third parties with whom it deals on
        behalf of Owner and may take any other reasonable steps to carry out the intent of this
        Section 4.1.

         

        
        4.2 Employees. Each
        Hotel Employee shall be the employee of Operator, and every person performing services for
        Operator in connection with this Agreement, including any employee of Operator or of its
        subsidiaries or Affiliates, shall be deemed to be acting as an employee or agent of
        Operator. In accordance with the Annual Budget, Owner shall pay or reimburse Operator for
        the actual cost of Hotel Employees, including all wages, salaries, payroll taxes, fringe
        benefits, vacation pay, pension or retirement plan contributions, health insurance
        premiums, and training expenses, provided that (i) Owner shall not pay or reimburse
        Operator for any cost or expenses of any corporate staff or overhead of Operator or any of
        its Affiliates except out-of-pocket expenses for personnel visiting the Hotel and assisting
        with operations of the Hotel; and (ii) Operator shall be solely responsible actually to pay
        and compensate the Hotel Employees and to make and maintain all required employee benefit
        contributions, payments, disclosures and records. Owner may consult with executive officers
        of Operator and staff of the Hotel concerning any aspect of the management and operation of
        the Hotel by Operator.

         

        	
                    
                    5.

                	
                    
                    OPERATING
                    EXPENSES.

                

         

        
        5.1 Owner Bears
        Expenses. In performing its duties hereunder, Operator shall act solely in the name and
        for the account of Owner. All expenses incurred by Operator in performing its duties
        hereunder, as provided in the Annual Budget or otherwise properly incurred under
        this Agreement, shall be paid by Operator from
        the working capital account. Owner shall pay when due all fees payable under Section 8.1.
        To the extent the funds necessary therefore are not generated by the operation of the
        Hotel, they shall be supplied by Owner or Operator, as the case may be, in the manner
        provided in Section 6.

         

        
        6

        
        

        

         

         

        
        5.2 Advances. Operator
        shall not be required to advance any of its own funds for the operation of the Hotel, nor
        to incur any liability in connection therewith, but may do so in its discretion, provided
        that Operator may not borrow funds in the name of the Owner or the Hotel or permit any
        security interest to be created against the Hotel or any property of Owner in connection
        with borrowing. Owner shall promptly reimburse Operator on demand for all or any part of
        any advance, with interest from the date of making such expenditure until repayment thereof
        is received, at Operator’s actual cost of borrowing such funds or, if Operator uses
        funds not borrowed directly for such advance, then at a rate (the “Interest
        Rate”) equal to the lesser of (i) the prevailing current Prime Rate, or (ii) the
        maximum rate permitted by applicable law. As used herein, “Prime Rate” shall
        mean the rate of interest designated as such publicly announced from time to time by the
        financial institution that maintains the Replacement Reserve Fund pursuant to Section 10.1
        as its prime rate.

         

        
        5.3 Purchasing. In accordance with Operator’s
        authority granted under Section 3.2(e), Operator is expressly authorized by Owner to
        purchase F/F/E, textiles, goods and other items and services through or from Affiliates,
        subsidiaries or divisions of Operator at a price to Owner which is equal to the sum of (i)
        the lowest price charged for such items or services when purchased by other Days Inn System
        hotels which are owned or managed and operated by Operator, plus (ii) applicable freight,
        handling and storage charges and sales taxes; provided that the price and terms shall not
        be less favorable to Owner than Operator could have obtained in the public marketplace for
        competitive products and/or services of the same quality and quantity from independent
        third parties.

         

        	
                    
                    6.

                	
                    
                    PROJECT
                    ACCOUNT.

                

         

        
        6.1 Establishment. Operator shall establish in
        Owner’s name such accounts at financial institutions reasonably acceptable to Owner
        as Operator deems necessary for the operation of the Hotel (collectively, the
        “Project Account”). Owner shall designate at least one authorized signatory for
        checks and other instruments of withdrawal, and Operator shall designate all other
        authorized signatories, who shall be fully bonded or otherwise fully insured. Operator
        shall be authorized to disburse funds from the Project Account in accordance with this
        Agreement without Owner’s approval, so long as Owner has not given Operator notice
        that this Agreement is terminated. Owner shall not cause disbursement from the Project
        Account unless this Agreement has been terminated. Except for the Replacement Reserve Fund,
        all monies received from the operation of the Hotel and all funds otherwise made available
        for the operation of the Hotel shall be in the Project Account, and all expenses paid by
        Operator on account of the operation of the Hotel, including, without limitation, the
        expenses noted in Sections 5 and 8 hereof, shall be paid from the Project
        Account.

         

        	
                    
                    6.2

                	
                    
                    Intentionally
                    Omitted.

                

         

        
        6.3 Working Capital. Owner shall provide working capital
        at such time and in such amounts as are reasonably agreed between Owner and Operator and,
        to the extent funds available to Operator in the Project Account shall be insufficient to
        pay the obligations of the Hotel and Owner under this Agreement, Owner shall furnish
        Operator with such additional funds as shall be
        necessary to pay the same within ten (10) days of Owner’s receipt of written notice
        of such insufficiency from Operator. To carry out its obligation under this Section 6.3,
        Owner may borrow funds at any time or times either secured or not by the Hotel and/or its
        contents, and the interest on such borrowing shall be an expense of operation of the
        Hotel.

         

        
        7

        
        

        

         

         

        
        6.4 Exclusive Use. The Project Account shall be used
        exclusively in connection with the operation of the Hotel and the performance of the terms
        and conditions of this Agreement, and Operator agrees to segregate all monies, receipts,
        accounts and records pertaining to the operation of the Hotel and not to commingle the same
        with any other business or hotel of Operator.

         

        	
                    
                    7.

                	
                    
                    BOOKS, RECORDS AND
                    STATEMENTS.

                

         

        
        7.1 System of Accounts. Operator shall, at Owner’s
        expense, maintain at the Hotel or at other offices of Operator for and on behalf of Owner
        complete and accurate books and accounts and such ancillary records as are necessary to
        reflect the ownership and operation of the Hotel. Such books and records shall be
        maintained using the accrual method of accounting and in accordance with generally accepted
        accounting principles applied on a consistent basis and in substantial accordance with the
        most current Uniform System of Accounts for the Lodging Industry (as revised from time to
        time, published by the Educational Institute of the American Hotel & Motel Association)
        (the “Uniform System”). Such books and records of the Hotel shall be the
        property of Owner. To the extent that such books and records of the Hotel are maintained in
        computer storage, Operator shall make a printed copy available for inspection by Owner at
        any time during normal business hours. Upon termination of this Agreement for any reason, a
        copy of such books and records of the Hotel shall be promptly delivered to Owner and, to
        the extent that such books and records of the Hotel are maintained in computer storage,
        Operator shall provide Owner with a copy in printed or compatible electronic format, at
        Owner's choice. Within the annual Fiscal Year accounting period, each fiscal quarter-annual
        period is to consist of three consecutive calendar months beginning with the month of
        January in each calendar year.

         

        
        7.2 Financial Statements. From such books, accounts and
        records, Operator shall prepare, at Operator’s expense except to the extent prepared
        by Hotel Employees, and deliver or cause to be delivered to Owner the following financial
        reports at the times indicated:

         

        
        (a) Operator shall deliver to Owner within twenty (20) days
        after the end of each calendar month an unaudited financial report, prepared from the books
        of account maintained by Operator.

         

        
        (b) On or before the twenty-fifth (25th) day
        following each fiscal quarter, Operator shall furnish Owner with a profit and loss
        statement showing the results of operation of the Hotel for such preceding fiscal
        quarter-annual period and a statement of the Gross Volume of Business for such fiscal
        quarter-annual period. Any adjustment required to make up an underpayment or to refund an
        overpayment of the fiscal monthly payments to Owner or to Operator as may be revealed in
        any such quarter-annual operating statement shall be made by way of an adjustment in the
        payment during the fiscal month in which the said quarter-annual operating statement is
        furnished.

        
         

        
        8

         

        
        

        

         

        
        (c) Within forty-five (45) days after the end of each Fiscal
        Year, Operator shall furnish in such form that the Independent Certified Public Accountant
        can prepare for Owner a statement of the Hotel’s
        assets and liabilities and the results of operation, including supporting schedules of
        income and expenses for each operational area, for the Fiscal Year ending immediately prior
        to the period when the financial reports are due, including a profit and loss statement
        showing the results of the operation of the Hotel for such year. Such statement shall (i)
        be taken from the books and records of the Hotel maintained by Operator, and (ii) follow
        the form set forth in the Uniform System. Such statement shall be certified by the chief
        financial or chief accounting officer of Operator.

         

        
        (d) Operator shall cooperate with the Independent
        Certified Public Accountant with respect to an annual audit so as to allow the Independent
        Certified Public Accountant to deliver to Owner at the Hotel’s expense within
        seventy-five (75) days of the end of each calendar year (i) a profit and loss statement,
        showing the results of operations of the Hotel during such year; (ii) the Gross Volume of
        Business and net operating profit for such year; and (iii) a balance sheet for the Hotel as
        of the close of such year, all of which shall be certified by the Independent Certified
        Public Accountant. Any disputes as to the contents of any such statements or any accounting
        matter under this paragraph shall be determined by the Independent Certified Public
        Accountant, whose decision shall be final and conclusive on Operator and Owner if the
        Independent Certified Public Accountant has provided an unqualified opinion with respect to
        matters contained in the certified audit.

         

        
        (e) Operator shall furnish to Owner monthly, quarterly
        and annual statements disclosing the computation of the fees payable to Operator pursuant
        to Section 8 of this Agreement for the time periods covered by such financial
        statements.

         

        
        7.3 Inspection. Operator shall accord to Owner, its
        accountants, attorneys and agents the right to enter upon (i) any part of the Hotel at all
        reasonable times for the purpose of examining or inspecting the Hotel, its books and
        records, or for any other purpose which the Owner, in its sole discretion, shall deem
        necessary or advisable, but the same shall be done with as little disruption to
        Operator’s management and operation of the Hotel as reasonably possible and without
        compromising the safety, security or privacy of Hotel guests and (ii) any other location at
        which Operator maintains the books and records of the Hotel for the purpose of examining or
        inspecting such books and records.

         

        
        7.4 Litigation Documents. Operator shall furnish Owner
        when received copies of all pleadings, briefs, decisions and all other documents prepared
        or filed in connection with any legal action or proceeding involving the Hotel.

         

        
        7.5 Miscellaneous Statements. Owner shall furnish
        Operator with copies of all property tax and insurance statements and all financing
        statements (including mortgages and/or deeds of trust) relating to the Hotel.

         

        	
                    
                    8.

                	
                    
                    OPERATOR’S FEES AND DISTRIBUTIONS TO
                    OWNER.

                

         

        
        8.1 Base Management Fees. For each Fiscal Year, Operator
        shall receive as compensation for services during the year a “Base Management
        Fee” equal to three and one-half percent (31⁄2%) of the Gross Volume of
        Business.

         

        	
                    
                    8.2

                	
                    
                    Intentionally
                    Omitted.

                

         

        
        9

        
        

        

         

        
        8.3 Distributions and Fees. All Hotel Employee
        compensation, payroll taxes and benefits or expenses, Hotel taxes, and all license-related
        fees payable to DIW shall be paid in that order, prior to the payment of the Base
        Management Fee or distributions to Owner. Upon the delivery of the monthly financial
        statement in accordance with Section 7.2(a), Operator shall, from the Project Account,
        simultaneously pay the Base Management Fee and distribute to Owner all remaining funds in
        the Project Account less any working capital reserves established in the Annual Budget on
        or before the second to the last business day of each month.

         

        	
                    
                    9.

                	
                    
                    CERTAIN DEFINITIONS.

                

         

        
        9.1 Gross Volume of Business. The term “Gross
        Volume of Business” shall mean the aggregate gross amount of all revenues determined
        on an accrual basis resulting from the operation of the Hotel by Operator, including
        without limitation, gross revenues from (i) rental of guest rooms, rentals of meeting and
        banquet facilities, any deposit forfeitures, recharges of local and long distance telephone
        calls, (ii) sales of services and merchandise including gasoline, automotive related
        products, food and beverages, gifts, novelties, publications and goods sold in vending
        machines, as well as from services provided in connection with the operation of any
        restaurant, recreation or amusement device or facility, lounge, garage or retail gasoline
        station at or in the Hotel, but in each case only if sold directly by Operator, and (iii)
        all lease, rental or royalty payments from all Hotel subtenants and concessionaries. There
        shall be excluded or deducted from the Gross Volume of Business all refunds, rebates,
        proceeds of sale of F/F/E, interest received from Project Account and Replacement Reserve
        Fund accounts and investments, employee gratuities or service charges in lieu of
        gratuities, insurance proceeds other than from business interruption insurance,
        condemnation or other similar awards, settlements and judgments resulting from litigation,
        and gross receipts taxes, Hotel occupancy taxes, excise taxes and similar assessments
        imposed by any governmental authority directly on sales, use, services or receipts of the
        Hotel and collected from Hotel customers, provided that the amount thereof is added to the
        selling price or absorbed therein and is actually paid to the governmental authority. Each
        charge or sale upon credit or check shall be treated as a sale for the full price thereof
        in the month during which such charge or sale is made, whether or not the Hotel shall
        receive payment therefore. Advance deposits and payments from guests and customers received
        during any month that secure rentals or performance of services in later months shall be
        held in trust by Operator and included in the Gross Volume of Business in the month in
        which the room rental or service performance occurs or the deposit is forfeited.

         

        
        9.2 Net Cash Flow. The term “Net Cash Flow”
        shall mean the gross amount of the revenues generated from the operation of the Hotel, less
        all operating expenses, including payments on any unsecured operating loans, and all taxes
        included in the sale price for all goods and services, including room rentals, and actually
        paid to a governmental authority. The determination of Net Cash Flow shall not include
        depreciation and amortization charges and other non-cash charges or write-downs, or the
        proceeds from (i) the sale of any capital items, including F/F/E, and (ii) insurance
        recoveries (except business interruption insurance), or (iii) condemnation or other similar
        awards. The determination of Net Cash Flow shall be on the accrual basis and in accordance
        with generally accepted accounting principles.

         

        
        10

        
        

        

         

        
        9.3 The System. The “System” means a
        comprehensive system for the delivery of transient lodging services as set forth from time
        to time in the License Agreement with DIW applicable to the Hotel, which at present
        includes and in the future will include as DIW specifically in writing from time to time
        designates: the DAYS INN service marks, logos and derivations, plus other logos, names,
        slogans, commercial symbols, trademarks and service
        marks (regardless of whether registered, registerable or
        existing at common law), System Hotel trade dress, and associated business good will
        (collectively “Marks”); other intellectual property, including copyrights,
        Confidential Information, “System Standards Manuals,” and know-how;
        advertising, publicity and other marketing materials and programs; operating suggestions;
        training programs and materials and quality assurance programs; a computerized central room
        Reservation System; consulting programs; specifications and policies; and the like; and
        (without separate royalty) food and beverage and other services, if any, but only when
        offered under the Marks in accordance with System Standards. DIW has reserved the right,
        from time to time, by adoption or amendment of System Standards, to add, amend, modify,
        delete or enhance any portion of the System (including any of the Marks and System
        Standards) as may be necessary in DIW’s sole judgment, to change, maintain, or
        enhance DAYS INN name or the reputation, efficiency, competitiveness and/or quality of the
        System, or to adapt it to new conditions, materials or technology, or to better serve the
        public. Owner will, at its expense, fully comply with all such additions or modifications
        reasonably designated as applicable to then existing System hotels.

         

        
        9.4 System Standards. Operator acknowledges that DIW
        shall have the right to control and establish requirements for all aspects of the System,
        including without limitation for Marks usage, and for Hotel construction, decoration,
        interior and exterior signage, quality assurance and guest service (collectively, the
        “System Standards”) associated with the System. Without limiting the
        foregoing:

         

        
        (a) DIW may from time to time specify the System Standards in
        its “Planning and Design Standards Manual,” “Operating Policies
        Manual,” “Purchasing Manual,” “Operations Guide,” and such
        successor and additional manuals as DIW shall put into use from time to time (collectively,
        and as amended from time to time, “System Standards Manual”), or otherwise,
        including without limitation, standards relating to: (i) minimum Hotel “Quality
        Standards” for cleanliness, maintenance, supplies, concession types, food and
        beverage service, vending machines, uniforms, staffing, employee training, replacement of
        F/F/E, décor, and other capital items, guest comfort and other areas; (ii)
        “Mark Standards” for interior and exterior Mark-bearing signage, china, linens,
        utensils, glassware, uniforms, stationery, supplies, advertising materials and other items,
        and with the right to specify which and how items used at the Hotel or elsewhere shall omit
        or bear Marks; (iii) “Design Standards” for new, upgraded or modified
        facilities, including standards for original and replacement F/F/E, amenities and supplies;
        and (iv) “Technology Standards” for point of sale terminals and computer
        hardware and software for various applications, such as rooms management, records
        maintenance, marketing data, accounting, budgeting and the Reservation System; all of which
        Owner agrees to meet, at its sole expense. Operator represents and warrants that as of the
        date of this Agreement, the Hotel contains the reservation and computer equipment required
        of franchisees.

         

        
        (b) If DIW so requires, Operator shall execute any
        confidentiality agreement required by DIW, defining therein any “Confidential
        Information,” enabling it to use each of the System Standards Manuals in its then
        current form and to receive amendments, replacements and supplements thereto.

         

        
        (c) DIW has the unlimited right to conduct unannounced
        inspections of the Hotel’s premises, operations, records and Marks usage both during
        the Term, to ascertain compliance with System Standards and other provisions of this
        Agreement.

         

        
        11

        
        

        

         

         

        
        9.5 Reservation System. DIW, its Affiliates and/or
        subcontractors, will, at its expense, maintain (directly or by subcontracting with one or
        more third parties), a computerized central “Reservation System” with a
        national toll-free telephone access number and/or such technological substitute(s) and/or
        supplement(s) as DIW determines in its sole discretion, for making reservations at System
        hotels. The Hotel, through Operator, will participate in the Reservation System and comply
        with all related Standards set by DIW in its Systems Standards Manuals or otherwise in
        writing, including, without limitation, standards for (i) purchase or lease and maintenance
        of computer/teletype terminal equipment, telephone equipment and service, and/or computer
        hardware and software; and (ii) honoring prepaid, confirmed, guaranteed and other
        reservations for the Hotel accepted through the Reservation System.

         

        	
                    
                    10.

                	
                    
                    REPLACEMENT RESERVE
                    FUND.

                

         

        
        10.1 Establishment. At the end of each calendar month of
        the Term (and proportionately for any fraction thereof), there shall be set aside from the
        balance in the Project Account as a reserve for replacements, substitutions and additions
        to F/F/E and for capital improvements under Section 11 (the “Replacement Reserve
        Fund”) an amount equal to the greater of (i) three percent (3%) of the Gross Volume
        of Business of the Hotel for that month, or (ii) such amount as the Hotel's mortgage lender
        may specify in writing from time to time. Operator shall establish in Owner’s name
        such accounts at financial institutions reasonably acceptable to Owner as Operator deems
        necessary for the amounts so set aside. Owner shall designate at least one authorized
        signatory for checks and other instruments of withdrawal, and Operator shall designate all
        other authorized Signatories, who shall be fully bonded or otherwise fully insured.
        Operator shall be authorized to disburse funds from the Replacement Reserve Fund in
        accordance with the Annual Budget without Owner’s approval, so long as Owner has not
        given Operator notice that this Agreement is terminated. Owner shall not cause a
        disbursement from the Project Account unless this Agreement has been terminated.

         

        
        10.2 Disbursements. The Replacement Reserve Fund shall
        be used solely for the purposes specified. Any reasonable expenditure for replacement or
        substitution of or additions to F/F/E in accordance with the Annual Budget may be made by
        Operator with funds on deposit in, and limited to the balance of, such Replacement Reserve
        Fund, including the unused accumulations thereof from prior Fiscal Years. All amounts
        remaining in the Replacement Reserve Fund at the close of each Fiscal Year shall be carried
        forward and retained in the Replacement Reserve Fund until used as herein provided. Any
        proposed expenditures in excess of the lesser of the balance in the Replacement Reserve
        Fund or the amount provided in the Annual Budget shall be subject to Owner’s prior
        approval.

         

        
        10.3 Sale Proceeds. In the event Operator disposes of
        F/F/E no longer needed for the operation of the Hotel by sale, all proceeds therefrom (net
        of selling expenses) shall be deposited in the Replacement Reserve Fund, unless otherwise
        required by the Hotel's mortgage lender.

         

        
        10.4 Preemption. Notwithstanding anything in this
        Agreement to the contrary, the provisions of Sections 10.1 through 10.3, inclusive, shall
        be inapplicable and of no force and effect for any calendar month occurring during the Term
        during which the named grantee in a deed to secure debt covering the Hotel (or a similar
        secured lender in a mortgage financing transaction covering the Hotel) requires the
        establishment or substitution of, or addition to, the F/F/E. In such event, all amounts
        required to be deposited in the Lender’s Replacement Reserve must for each such month
        meet or exceed the amounts which would have otherwise
        been deposited in the Replacement Reserve Fund pursuant to
        Section 10.1. Furthermore, and notwithstanding anything in this Agreement to the contrary,
        all:

        
         

        
        12

        
        

        

         

        
        (a) interest received or generated by the Lender’s
        Replacement Reserve shall be excluded or deducted from the computation of “Gross
        Volume of Business,” as determined from time to time pursuant to Section 9.1;
        and

        
         

        
        (b) payments made to the Lender’s Replacement
        Reserve shall be included in the computation of “Net Cash Flow,” as determined
        from time to time pursuant to Section 9.2.

         

        	
                    
                    11.

                	
                    
                    REPAIRS AND MAINTENANCE: CAPITAL
                    IMPROVEMENTS

                

         

        
        11.1 Routine Items. Operator shall from time to time
        make expenditures (solely from monies available in the Project Account and in accordance
        with the Annual Budget) for such routine repairs and maintenance as it deems necessary to
        keep the Hotel in good operating condition (excluding structural repairs and extraordinary
        repairs to or replacement of F/F/E). If any such repairs or maintenance shall be made
        necessary by any condition against the occurrence of which Owner has received the guaranty
        or warranty of any supplier of labor or materials for the Hotel, then Operator may invoke
        said guaranties or warranties in Owner’s name and Owner will cooperate fully with
        Operator in the enforcement thereof.

         

        
        11.2 Owner’s Improvements. Owner may from time to
        time at its sole expense make such alterations, additions or improvements in or to the
        Hotel as Operator shall recommend and Owner shall approve, or as Owner shall desire. Any
        such improvements shall conform to System Standards. Operator will provide development
        assistance services for such improvements.

         

        
        11.3 Major Items. If structural repairs or changes to
        the Hotel shall be required at any time during the Term to maintain the Hotel in good, safe
        operating condition, or by reason of present of future applicable laws, ordinances, rules
        or regulations, or by order of any governmental or municipal power, department, agency,
        authority or officer or otherwise, or because Operator and Owner jointly agree upon the
        desirability thereof, then in such event all structural repairs or changes shall be made by
        Owner and at Owner’s sole expense and in accordance with plans and drawings approved
        by Owner, and shall be made with as little interference to the operation of the Hotel as
        reasonably possible. Notwithstanding that foregoing, Owner shall have the right reasonably
        to contest the need for any such repairs or changes required by law, ordinance, regulation
        or order of governmental authority and may postpone compliance therewith, if so permitted
        by law and if such noncompliance shall not subject Owner or Operator to criminal liability
        other than payments of fines, but in such event Owner shall indemnify Operator from any
        loss, cost, damage or expense which may result therefrom, in a form (including adequate
        security) reasonably satisfactory to Operator.

         

        	
                    
                    12.

                	
                    
                    INSURANCE.

                

         

        
        12.1 Coverages. During the term of this Agreement,
        Operator shall provide and maintain, to the extent available, at Owner’s sole cost
        and expense, insurance of such kinds and amounts as Owner shall be required to carry
        pursuant to the provisions of any mortgage, lease, license or other agreement affecting the
        Hotel, as well as any other or additional insurance that Owner and the System Standards
        shall require.

         

         

        
        13

        
        

        

         

        
        12.2 Insurors. All insurance shall be in such form and
        amounts and with such companies as shall be reasonably satisfactory to Owner and Operator
        and, to the extent required by any mortgage, lease, license or other agreement affecting
        the Hotel, by all interested parties thereunder. All policies insuring against damage to
        the Hotel or portions thereof or interruptions of business or the like shall name Owner,
        Operator, DIW, and such other parties as may be required by the provisions of any mortgage,
        lease or other agreement affecting the Hotel as the insureds thereunder, as their
        respective interests may appear. All policies of hazard insurance shall include loss
        payment clauses in the form required by any mortgage, lease or other agreement affecting
        the Hotel and Owner shall advise Operator of the respective requirements of each such
        agreement prior to the date of this Agreement. All policies of liability insurance shall
        name Owner, Operator, DIW, and such other parties required above as the insureds
        thereunder, and shall contain riders and endorsements adequately protecting the interests
        of Owner and Operator. Certificates of all policies of insurance shall be delivered to
        Owner and to all such other parties as Owner shall reasonably direct. Deductible items
        shall be paid from the Project Account, if sufficient, and directly by Owner
        otherwise.

         

        
        12.3 Subrogation. Operator shall cause (to the extent
        possible without incurring undue expense) all policies of insurance to provide that the
        insurer will have no right to subrogation against Owner, Operator or any of their
        respective agents or employees or Affiliates except for gross negligence or willful
        misconduct. Owner assumes all risks in connection with the adequacy of any insurance or
        self-insurance program, and waives any claim against Operator for any liability, cost or
        expense (including attorneys’ fees and disbursements) arising out of any uninsured
        claim, in part or in full, unless resulting from Operator’s negligence or willful
        misconduct. All policies of insurance to be procured by Operator shall permit the foregoing
        waiver (to the extent possible without incurring undue expense).

         

        
        12.4 Blanket Policies. Except to the extent otherwise
        required pursuant to the provisions of any mortgage, lease or other agreement affecting the
        Hotel, to the extent feasible, insurance may be obtained through the blanket insurance
        policies for all hotels managed by the Operator, provided that the price and terms of such
        insurance shall not be less favorable to Owner than Operator could have obtained for
        similar coverage in the public marketplace from independent third parties.

         

        
        12.5 Construction Period(s). Operator shall be solely
        responsible for obtaining, maintaining and paying for appropriate insurance coverage in
        connection with any renovation work of the Hotel that is underway as of the date of this
        Agreement Or thereafter. All policies under this Section 12.5 shall name as insureds Owner,
        Operator, the Owner’s lenders and such other parties as Owner’s lenders may
        require.

         

        	
                    
                    13.

                	
                    
                    DEBT SERVICE; REAL AND PERSONAL PROPERTY TAXES
                    AND

                

        
        ASSESSMENTS.

         

        
        13.1 Payment. Operator shall pay from the Project
        Account, on behalf and for the account of Owner, all working capital loans for the Hotel,
        capital lease payments for F/F/E and other items used at the Hotel, real estate property
        taxes, all personal property taxes and all betterment assessments levied against the Hotel
        or any of its components parts. Thereafter, on or before the second to the last business
        day of each month, Operator shall transfer to the account designated by Owner all remaining
        funds in the Project Account less any working capital reserves established in the Annual
        Budget and Owner shall pay the principal, interest and any required escrows due on the
        mortgage financing. Prior to payment thereof, Operator
        shall furnish Owner with a duplicate copy of all notices,
        assessments and statements of taxes and assessments when and as received by Operator from
        lenders and taxing authorities, as well as duplicates of all receipts for
        payment.

         

        
        14

        
        

        

         

         

        
        13.2 Contests. Notwithstanding the foregoing, upon
        fifteen (15) days prior written notice to Operator, Owner may, at its sole expense, contest
        the validity or the amount of any tax or assessment on the Hotel, provided that Owner shall
        not contest such tax or assessment if Operator notifies Owner in writing that in
        Operator’s reasonable judgment such contest would subject Operator to possible
        criminal liability or interfere materially with Hotel operations. Operator will cooperate
        with Owner and execute any documents or pleadings required for such purpose, provided that
        Operator is satisfied that the facts set forth in such documents or pleadings are complete
        and accurate and that such execution or cooperation does not impose any unacceptable
        obligation or expense on Operator. With Owner's prior written approval, Operator may engage
        a property tax service to review taxes and assessments and this expense will be paid from
        the Project Account. The cost of any such contest will be paid from the Project
        Account.

         

        	
                    
                    14.

                	
                    
                    NAME OF HOTEL.

                

         

        
        During the Term, the Hotel shall at all times be known as a
        “Days Inn” or a "Days Hotel”, or such other name as may be selected by
        Owner.

        
         

        	
                    
                    15.

                	
                    
                    DAMAGE, DESTRUCTION AND
                    CONDEMNATION.

                

         

        
        15.1 Casualty. If the Hotel or any portion thereof shall
        be damaged or destroyed at any time or times during the term of this Agreement by fire,
        casualty or any other cause, Owner may elect, at its own cost and expense and with due
        diligence, to repair, rebuild or replace the same so that after such repairing, rebuilding
        or replacing, the Hotel shall be substantially the same (or better) as prior to such damage
        or destruction. If Owner does not undertake such work within ninety (90) days after the
        fire or other casualty, or shall fail to complete the same diligently, Operator may, at its
        option, terminate this Agreement by written notice to Owner, effective as of thirty (30)
        days after the date sent and, except as to liabilities or claims which shall have accrued
        or arisen prior to or on account of such termination, all obligations hereunder shall
        cease.

         

        
        15.2 Full Condemnation. If the whole of the Hotel shall
        be taken, condemned (or sold in lieu thereof to the condemning authority) in any eminent
        domain, condemnation, compulsory acquisition or like proceeding by any competent authority
        or if such substantial portion thereof shall be taken or condemned as to make it, in the
        reasonable judgment of Owner, unreasonable or imprudent to operate the remaining portion as
        a Days Inn System hotel, then this Agreement shall terminate as of the date of vesting or
        conveyance of title on such taking or sale and, except as to liabilities or claims which
        shall have accrued or arisen prior to or on account of such termination, all obligations
        hereunder shall cease.

         

        
        15.3 Partial Condemnation. If only part of the Hotel
        shall be taken or condemned (or sold in lieu thereof to the condemning authority) and the
        taking, sale or condemnation of such part does not, in the reasonable judgment of Owner,
        make it unreasonable or imprudent to operate the remaining portion as a Days Inn System
        hotel, then this Agreement shall not terminate, and Owner shall, at its own cost and
        expense and with due diligence, make all such alterations or
        modifications to the Hotel, or any part thereof, as shall be reasonably necessary so as to
        make the remainder a satisfactory architectural unit for a Days Inn System
        hotel.

         

        
        15

        
        

        

         

         

        
        15.4 Priority. The provisions of this Section 15 shall
        be subject to the requirements of any mortgages or other security agreements covering the
        Hotel and/or its contents.

         

        	
                    
                    16.

                	
                    
                    TERMINATION FEE.

                

         

        
        Notwithstanding anything in this Agreement to the contrary, if
        at any time during the Term this Agreement is terminated for any reason whatsoever, whether
        with or without cause and whether as a result of an Event of Default or otherwise, there
        shall be no Termination Fee or similar fee owing or payable to Operator as a result of such
        termination, but Owner shall be responsible for all other post closing obligations of Owner
        properly owing under this Agreement.

         

        	
                    
                    17.

                	
                    
                    TITLE TO HOTEL.

                

         

        
        Owner will maintain the Hotel and its contents free and clear
        of all liens and encumbrances except (i) those which do not materially affect (in
        Operator’s reasonable discretion) operation of the Hotel, (ii) mortgages or other
        security agreements covering the Hotel and/or its contents which are in existence or under
        commitment at the date of this Agreement, and (iii) mortgages or other security agreements
        covering the Hotel and/or its contents pursuant to refinancing of the Hotel and/or its
        contents by Owner. Subject to the terms and conditions of any mortgages or other security
        agreements, Operator shall and may peacefully and quietly manage the operation of the Hotel
        in the name and for the account of Owner during the term of this Agreement and Owner will
        at its own expense undertake and prosecute any appropriate action, judicial or otherwise,
        to protect such rights of Operator, except as to any action arising out of or in connection
        with to the former management of the Hotel by Buckhead Hotel Management Company and/or
        Bryanston Group, Inc., which shall be the responsibility of Operator. Throughout the Term,
        Owner will make all payments, and will keep, observe and perform all of the terms,
        covenants, conditions and obligations to be make, kept, observed or performed by Owner
        under any mortgage, other security agreements, capital lease and other agreement, in
        respect of the Hotel, except with respect to items as are delegated to Operator under this
        Agreement.

        
         

        
        18. EVENTS OF DEFAULT; TERMINATION.

         

        
        18.1(a) This Agreement may be terminated in writing by the
        following party(ies) upon the happening of any of the following events, each of which is
        defined as an “Event of Default”:

         

        
        (1) By either party, if the other party (or any partner or
        owner thereof holding a controlling interest therein) shall apply for or consent to the
        appointment of a receiver, trustee or liquidator of it or of all or a substantial part of
        its assets, file a voluntary petition in bankruptcy, or admit in writing its inability to
        pay its debts as they come due, make a general assignment for the benefit of creditors,
        file a petition or an answer seeking reorganization or arrangement with creditors or take
        advantage of any insolvency law or file an answer admitting the material allegations of a
        petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or if
        an order, judgment or decree shall be entered by any court of competent jurisdiction, on
        the application of a creditor, adjudicating it a bankrupt
        or insolvent or approving a petition seeking reorganization of it or appointing a receiver,
        trustee or liquidator of it or of all or a substantial part of its assets, and such order,
        judgment or decree shall continue unstayed and in effect for any period of sixty (60)
        consecutive days.

        
         

        
        16

        
        

        

         

        
        (2) By either party, upon breach, default, or non-compliance by
        the other party with any of its obligations contained in this Agreement, followed by
        written notice from the aggrieved party to the other and failure of the other party either
        to remedy or correct such breach, default or non-compliance within ten (10) days after
        receipt of such written notice, if such breach, default or noncompliance is monetary, and
        within thirty (30) days if it is nonmonetary, provided that if a nonmonetary default,
        breach, or noncompliance is not susceptible of being cured within the thirty (30) day
        period and in the reasonable opinion of the aggrieved party the other party has proceeded
        with all due diligence, the aggrieved party shall approve a request to extend such cure
        period for an additional reasonable period of time.

         

        
        (3) By either party, in the event of fraud or willful
        misconduct of the other party in connection with any of its obligations under this
        Agreement.

         

        
        (4) By Owner, if Operator fails to operate the Hotel in the
        normal course of business, except if this failure is caused by an event described in
        Section 15.

         

        
        (5) By Owner, if, due to the negligence or willful misconduct
        of Operator, the licenses for the sale of alcoholic beverages in the Hotel, or any other
        licenses or permits necessary for the operation of the Hotel, are at any time during the
        term hereof suspended, terminated or revoked and such suspension, termination or revocation
        shall continue unstayed and in effect for a period of ninety (90) consecutive
        days.

         

        
        (6) Owner, if the Hotel is not operated in accordance with the
        quality standards set forth in Section 1.1, which failure is not caused by an action of the
        Owner; provided that Owner shall given Operator notice that Operator is in default of this
        Section 18.1(a)(6), shall specifically identify the quality standards that the Operator has
        failed to satisfy and shall provide Operator a thirty (30) day period in which to cure such
        default, and Owner shall approve a request by Operator for an extension of such cure period
        for an additional thirty (30) days if reasonable efforts are being made by Operator to
        correct the deficiencies giving rise to the default.

         

        	
                    
                    (7)

                	
                    
                    Intentionally omitted.

                

         

        	
                    
                    (8)

                	
                    
                    Intentionally omitted.

                

         

        
        (9) By Owner, if for any year Net Cash Flow is negative, as set
        forth in Section 3.6(b), but any termination shall be in accordance with that
        Section.

         

        
        (10) Intentionally omitted.

         

        
         

        
        17

        
        

        

         

        
        (11) By Operator, if Owner fails to
        pay Operator any amount due it hereunder within twenty (20) days after receipt by Owner of
        a written notice from Operator setting forth the amount due; provided that, if the
        amount due is reasonably disputed by Owner, failure to pay the undisputed portion of such
        amount within the above-described twenty (20) day period or failure to pay the disputed
        amount within ten (10) days of the reconciliation of the disputed amount by Operator and
        Owner shall be an additional Event of Default hereunder.

         

        
        (12) By Operator, if Owner loses possession or the right to
        possession of all or a significant part of the Hotel.

         

        
        (13) By either party, if Owner is declared by the lender to be
        in default in the performance of any mortgage or deed of trust covering the Hotel, as a
        result of the action or inaction of either party or such party fails to cure such default
        within a reasonable time not less than thirty (30) days or such shorter time as is
        permitted by the applicable instrument.

         

        
        (14) Intentionally omitted.

         

        
        (15) Intentionally omitted.

         

        
        (16) By Owner at any time, at Owner’s sole discretion,
        without cause and for any reason whatsoever, exercised by delivery of written notice from
        Owner to Operator, wherein Owner designates a date of termination of this Agreement to be
        effective no earlier than thirty (30) days from the date of delivery of such termination
        notice.

         

        
        (b) Intentionally omitted.

         

        
        (c) Upon termination of this Agreement, all obligations
        hereunder shall cease, except as to liabilities or claims which shall have accrued or
        arisen prior to or on account of such termination. In any judicial proceeding in which the
        validity of termination is at issue, neither party will be limited to the reasons set forth
        in any notice sent under this Section.

         

        
        18.2 Post-Termination Procedures. Upon termination of
        this Agreement by either party, Operator shall turn over to Owner all books, and records
        (or legible copies thereof) of the Hotel. Owner and Operator shall fully cooperate with
        each other in connection with all matters relating to the Hotel which took place prior to
        such termination. Operator shall (i) surrender (and assign, if permitted) to Owner any and
        all licenses, permits and/or other authorizations or property required for the operation of
        the Hotel in accordance with the directions of Owner and with applicable governmental laws,
        regulations, orders or other provisions, (ii) deliver to Owner any and all equipment,
        supplies, keys, lock and safe combinations, reservation lists, ledgers, bank statements on
        the Project Account and the Replacement Reserve Fund, budgets, accounting books and
        records, Hotel-only insurance policies, bonds and other documents, memoranda, schedules,
        lists, contracts, agreements, correspondence, records and other properties required for the
        operation of the Hotel and/or required to be developed, maintained or kept by Operator
        pursuant to the terms and provisions of this Agreement; provided that all such books,
        records and other documentation shall thereafter be made available to Operator upon its
        request, at all reasonable times for inspection, audit, examination and transcription of
        particulars relating to the period in which Operator managed the Hotel, and (iii) following
        payment to Operator of all sums due to Operator hereunder, deliver to Owner all cash on
        hand at the Hotel and, at the option of Owner either deliver to
        Owner checks for the balances in the Project Account and the Replacement Reserve Fund or
        join in the execution of appropriate instruments which eliminate all of Operator’s
        personnel as signatories on such accounts.

         

        
        18

        
        

        

         

        
        18.3 Rights Cumulative. The rights granted under this
        Section 18 shall not be in substitution for, but shall be, except as otherwise provided in
        this Agreement, in addition to any and all rights and remedies granted by applicable
        law.

         

        	
                    
                    19.

                	
                    
                    NOTICES.

                

         

        
        Any notice, statement or demand required to be given under this
        Agreement shall be in writing and shall be deemed to have been given if delivered
        personally or electronically or mailed, addressed, if to:

        
         

        	
                    
                    Operator:

                	
                    
                    Oak Hotels, Inc.

                	
                    
                     

                
	
                    
                     

                	
                    
                    2424 Route 52

                	
                    
                     

                
	
                    
                     

                	
                    
                    Hopewell Junction, NY 12533

                
	
                    
                     

                	
                    
                    Attn:

                	
                    
                    Ray Rickards

                	
                    
                     

                
	
                    
                     

                	
                    
                    Telephone: 845 223-5037

                	
                    
                     

                
	
                	
                	
                	
                	
                	
                	
                

        
         

        	
                    
                    Owner:

                	
                    
                    CRI Hotel Income Partners, L. P.

                
	
                    
                     

                	
                    
                    11200 Rockville Pike, Suite 500

                	
                    
                     

                
	
                    
                     

                	
                    
                    Rockville, MD 20852

                	
                    
                     

                
	
                    
                     

                	
                    
                    Attn: Jack B. Stere

                	
                    
                     

                
	
                    
                     

                	
                    
                    Telephone: 301 255-0634

                	
                    
                     

                
	
                	
                	
                	
                	
                	
                

        
         

        	
                    
                    With a copy to:

                	
                    
                    CRI Hotel Income Partners, L. P.

                
	
                    
                     

                	
                    
                    11200 Rockville Pike, Suite 500

                	
                    
                     

                
	
                    
                     

                	
                    
                    Rockville, MD 20852

                	
                    
                     

                
	
                    
                     

                	
                    
                    Attn: Office of General Counsel

                	
                    
                     

                
	
                	
                	
                	
                	
                

        
         

        
        or to such other addresses as Operator and Owner shall
        designate in the manner herein provided, and shall be deemed to have been given on the day
        delivered or, if mailed, three (3) days after it shall have been mailed, as aforesaid, in
        any regularly maintained government post office. Any notice of an event of default or
        termination shall be personally delivered by means of receipted delivery or by certified or
        registered prepaid, U.S. mail, return receipt requested.

        
         

        	
                    
                    20.

                	
                    
                    SALE OF HOTEL. Intentionally
                    omitted.

                

        
         

        	
                    
                    21.

                	
                    
                    INDEMNIFICATIONS.

                

         

        
        21.1 Standard of Performance. Operator shall not, in the
        performance of this Agreement, be liable to Owner or to any other person or entity for any
        act or omission of Owner or of any agent or employee of Owner. Owner shall not, in the
        performance of this Agreement, be liable to Operator or to any other person or entity for
        any act or omission of Operator or of any agent or employee of Operator. Operator shall be
        responsible to Owner for the faithful and diligent performance of its obligations under
        this Agreement. Operator shall not be liable to Owner for acts and omissions in the
        exercise of its business judgment so long as it acts in good faith, provided that Operator
        shall be liable to Owner for failure to carry out its obligations under this Agreement,
        gross negligence and willful misconduct, negligence of supervisory personnel to
        the extent not fully covered by insurance, negligent selection
        of Hotel Employees, and the acts and omissions of such of its employees as are not Hotel
        Employees.

         

         

        
        19

        
        

        

         

        
        21.2 Indemnifications. Owner agrees to indemnify and
        save Operator harmless from all liability to any third party for any loss, damage, cost,
        claim or other expense of such third party arising out of the act or omission of Owner or
        any agent or employee of Owner in any way connected with this Agreement and to pay
        Operator’s expenses, including reasonable attorneys’ fees and disbursements,
        incurred in defending itself from such liability. Operator agrees to indemnify and save
        Owner harmless from all liability to any third party for any loss, damage, cost, claim or
        other expense of such third party arising out of the act or omission of Operator or any
        agent or employee of Operator in any way connected with this Agreement and to pay
        Owner’s expenses, including reasonable attorneys’ fees and disbursements,
        incurred in defending itself from such liability.

         

        
        21.3 No Brokers. Owner and Operator shall each indemnify
        and save the other harmless from all liability, loss, damage, cost, claim or other expense,
        including reasonable attorneys’ fees and disbursements, resulting from any claim for
        commissions or other compensation by any person claiming to have acted as a broker or
        finder on behalf of the indemnifying party in connection with the entering into this
        Agreement.

         

        
        21.4 Survival. This Section 21 shall survive the
        expiration or other termination of this Agreement.

         

        	
                    
                    22.

                	
                    
                    GUARANTEE. Intentionally
                    omitted.

                

        
         

        
        23. MISCELLANEOUS.

         

        
        23.1 All initially capitalized words shall be defined terms
        having only the specialized definitions attributed to them by various provision of this
        Agreement. Such specialized definitions shall apply regardless of whether such words appear
        before or after their respective definitions in the context of this Agreement.

         

        
        23.2 The term “Fiscal Year” shall mean a calendar
        year during the Term of the Agreement.

         

        
        23.3 The phrase “Independent Certified Public
        Accountant” shall mean such firm of nationally recognized independent certified
        public accountants as shall be selected by Owner.

         

        
        23.4 Intentionally omitted.

         

        
        23.5 Owner and Operator shall execute and deliver all other
        appropriate supplemental agreements and other instruments, and take any other action
        necessary to make this Agreement fully and legally effective, binding and enforceable as
        between them and as against third parties.

         

        
        23.6 The headings of the titles to the several sections of this
        Agreement are inserted for convenience only and are not intended to affect the meaning of
        any of the provisions hereof.

         

        
        23.7 This Agreement may not be changed, modified or terminated,
        nor may any provisions hereof be waived, except by a writing signed by the party to be
        charged with any such change, modification, termination or
        waiver. The waiver of any of the terms and conditions of this Agreement on any occasion or
        occasions shall not be deemed waiver of such terms and conditions on any future
        occasion.

         

        
        20

        
        

        

         

         

        
        23.8 This Agreement shall be binding upon and inure to the
        benefit of Owner, and its successors and/or permitted assigns, and shall be binding upon
        and inure to the benefit of Operator, its successors and/or permitted assigns.

         

        
        23.9 This Agreement constitutes the entire Agreement between
        the parties relating to the subject matter hereof, superseding all prior agreements or
        undertakings, oral or written.

         

        
        23.10 This Agreement shall be governed by, interpreted under
        and construed and enforced in accordance with the laws of the State of New York.

         

        
        23.11 Owner represents that it has full power and authority to
        execute this Agreement and to be bound by the terms hereof. Operator represents it has full
        power and authority to execute this Agreement and to be bound by the terms hereof. On
        request each party shall furnish the other reasonable evidence of such
        authority.

         

        
        23.12 In the event that any one or more of the phrases,
        sentences, clauses or paragraphs contained in this Agreement shall be declared invalid by
        the final and unappealable order, decree or judgment of any court, this Agreement shall be
        construed as if such phrases, sentences, clauses or paragraphs had not been inserted,
        provided that the economic basis of this Agreement is not thereby altered.

         

        
        23.13 No consent or approval of Operator or Owner shall be
        effective for purposes of this Agreement unless the same shall be in writing and shall be
        duly executed by an authorized officer or agent of the party granting such consent or
        approval.

         

        
        23.14 Intentionally omitted.

         

        
        23. 15 Operator and/or any of its subsidiaries and/or any
        entity in which any of them are partners, joint venturers, or shareholders holding more
        than ten percent (10%) of any such shares, shall not construct, own, franchise, operate or
        manage an economy or budget hotel development or other similar limited service hotel
        development within a four (4) mile radius of the Hotel which was not already approved for
        licensing or not already operating as a Days Inns System hotel as of the date of the
        Agreement continuing for as long as the Hotel remains a Days Inns System hotel, unless an
        “impact report” prepared by a nationally recognized, independent third party
        with hotel marketing experience selected by Owner and acceptable to Operator demonstrates
        that such new hotel does not have a “significant impact” upon the occupancy of
        the Hotel at its then current average room rates. “Significant impact” shall be
        defined as the occurrence of a three percentage points or greater decrease in the annual
        occupancy rates or Net Cash Flow is directly attributable to the proposed opening and
        operation of such new hotel as a Days Inns System hotel; provided, however, in the event
        that Operator or any of its Affiliates or related companies is involved in the
        construction, ownership or management of such proposed hotel, the calculation of any impact
        on the annual occupancy rates or Net Cash Flow for the Hotel shall be based upon the
        proposed opening and operation of such new hotel without regard for the fact that it will
        be a Days Inns System hotel.

         

        
        21

        
        

        

         

         

        
        23.16 Except as otherwise specifically provided, whenever under
        this Agreement an action may not be taken by one party without the approval of the other
        party, such approval shall not be unreasonably delayed or withheld.

        
         

        
        (signature page follows)

        
         

        

         

        
        22

        
        

        

         

        
        IN WITNESS WHEREOF, Operator and Owner have duly executed this
        Agreement as of the day and year first above written.

         

        	
                    
                    OWNER:

                

         

        	
                    
                    CRI HOTEL INCOME PARTNERS, L. P.

                
	
                    
                    By:

                	
                    
                    CRICO Hotel Associates I, L. P.

                	
                    
                     

                
	
                    
                    Its:

                	
                    
                    General Partner

                	
                    
                     

                
	
                    
                    By:

                	
                    
                    C.R.I., Inc.

                	
                    
                     

                
	
                    
                    Its:

                	
                    
                    General Partner

                	
                    
                     

                
	
                	
                	
                	
                	
                

         

         

         

        	
                    
                    By:_________________________________________________

                
	
                    
                     

                	
                    
                    Name: Jack B. Stere

                	
                    
                     

                
	
                    
                     

                	
                    
                    Title:

                	
                    
                    Vice President – Hotel Operations

                	
                    
                     

                
	
                	
                	
                	
                	
                

         

         

         

        	
                    
                    OPERATOR:

                

         

        	
                    
                    OAK HOTELS, INC.

                

         

         

         

        	
                    
                    By:_________________________________________________

                
	
                    
                     

                	
                    
                    Name:________________________________________

                
	
                    
                     

                	
                    
                    Title:_________________________________________

                	
                    
                     

                
	
                	
                	
                

         

         

         

         

         

        
        23

         

        
        

        

         

         

        HOTEL
        MANAGEMENT AGREEMENT VARIANCES

         

         

        Title
        (heading): University

        Date
        (first paragraph): March 1, 2008

        Number
        of units (first recital): 131

        Location
        (first recital): Minneapolis, Minnesota

        Street
        Address (section 1.4): 2407 University Avenue, S.E., Minneapolis, MN 55414

        Term End
        (section 2): December 31, 2016

        
        Commencement date (section 2): March 1, 2008

        Length
        of optional renewal term (section 2): Three (3) Years

         

        Title
        (heading): Roseville

        Date
        (first paragraph): March 1, 2008

        Number
        of units (first recital): 114

        Location
        (first recital): Roseville, MN

        Street
        Address (section 1.4): 2550 N. Cleveland Avenue, Roseville, MN 55113

        Term End
        (section 2): December 31, 2016

        
        Commencement date (section 2): March 1, 2008

        Length
        of optional renewal term (section 2): Three (3) Years

         

        Title
        (heading): Plymouth

        Date
        (first paragraph): March 1, 2008

        Number
        of units (first recital): 113

        Location
        (first recital): Plymouth, Minnesota

        Street
        Address (section 1.4): 2955 Empire Lane, Plymouth, MN 55447

        Term End
        (section 2): December 31, 2016

        
        Commencement date (section 2): January 1, 2008

        Length
        of optional renewal term (section 2): Three (3) Years<P ALIGN="RIGHT">Exhibit 10.1</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">CAPITAL SUPPORT AGREEMENT</P>

<P>&#9;THIS CAPITAL SUPPORT AGREEMENT (this "Agreement") is made as of the 31st day of March, 2008, by and among Legg Mason, Inc., a Maryland corporation ("Legg Mason"), LM Capital Company, LLC, a Maryland limited liability company ("LMC" and, together with Legg Mason, the "Support Providers"), and Liquid Reserves Portfolio, a series of Master Portfolio Trust (the "Fund").</P>

<P>WITNESSETH:</P>

<P>&#9;WHEREAS, the Fund is an investment company registered with the Securities and Exchange Commission in accordance with the Investment Company Act of 1940 (as amended, the "1940 Act");</P>

<P>&#9;WHEREAS, the Fund is a money market fund that seeks to maintain a stable net asset value using the Amortized Cost Method as defined in and in accordance with Rule 2a-7 promulgated under the 1940 Act (as amended, "Rule 2a-7");</P>

<P>&#9;WHEREAS, the Fund holds notes and other instruments (the "Notes") issued by structured investment vehicles listed in Schedule A attached hereto (each, an "Issuer");</P>

<P>&#9;WHEREAS, Rule 2a-7(c)(6)(ii) requires a money market fund to "dispose of [a portfolio] security as soon as practicable consistent with achieving an orderly disposition of the security, . . ., absent a finding by the board of directors that disposal of the portfolio security would not be in the best interests of the money market fund (which determination may take into account, among other factors, market conditions that could affect the orderly disposition of the portfolio security)" upon the occurrence of certain events;</P>

<P>&#9;WHEREAS, one or more of the events specified in Rule 2a-7(c)(6)(ii) have occurred with respect to the Notes;</P>

<P>&#9;WHEREAS, a sale of the Notes under current market conditions is unlikely to result in the full recovery of the Fund's investments, and may cause the Fund to realize losses;</P>

<P>&#9;WHEREAS, Legg Mason is the sole stockholder of the Fund's manager and LMC is a subsidiary of Legg Mason;</P>

<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER"><A NAME="OLE_LINK1"></TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P></A>&#9;WHEREAS, the Board of Trustees of the Fund (the "Board") will consider this Agreement in determining whether disposal of the Notes currently would be in the best interest of the Fund:</P>

<P>&#9;NOW, THEREFORE, in consideration of the above premises, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Support Providers hereby agree as follows:</P>

<P>&#9;1.  <U>Definitions</U>.  In addition to the terms defined elsewhere in the Agreement, the following terms have the meanings indicated:</P>

<P>&#9;&#9;(a)  "Amortized Cost Value" means, with respect to any Eligible Note held by the Fund, the value of that Eligible Note as determined using the Amortized Cost Method in accordance with Rule 2a-7 on the relevant date.  Solely for purposes of calculating the amount of the Loss under this Agreement, if an Eligible Note is received in an exchange or restructuring, the Amortized Cost Value of such Eligible Note shall be increased by the excess, if any, of the Amortized Cost Value of the predecessor Note as of the time immediately preceding the exchange over the sum of the Amortized Cost Value of the Eligible Note and any cash received in such exchange.</P>

<P>&#9;&#9;(b)  "Capital Contribution" means a cash contribution by either Support Provider to the Fund for which the Support Provider does not receive any shares or other consideration from the Fund.</P>

<P>&#9;&#9;(c)  "Contribution Event" means, with respect to any Eligible Note held by any Fund, any of the following occurrences:</P>

<P>&#9;&#9;&#9;(i) any sale of the Eligible Note by the Fund for cash in an amount, after deducting any commission or similar transaction costs, less than the Amortized Cost Value of the Eligible Note sold as of the date of settlement;</P>

<P>&#9;&#9;&#9;(ii) receipt of final payment on the Eligible Note in an amount less than the Amortized Cost Value of that Eligible Note as of the date such payment is received; </P>

<P>&#9;&#9;&#9;(iii) issuance of orders by a court having jurisdiction over the matter discharging the Issuer from liability for the Eligible Note and providing for payments on that Eligible Note in an amount less than the Amortized Cost Value of that Eligible Note as of the date such payment is received; and </P>

<P>&#9;&#9;&#9;(iv) receipt of new securities that are "Eligible Securities," as defined  in paragraph (a)(10) of Rule 2a-7, in exchange for or replacement of Eligible Notes if the Amortized Cost Value of such new securities is less than the Amortized Cost Value of such Eligible Notes on the date of exchange or replacement.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">2</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;&#9;(d)  "Eligible Notes" mean the Notes held by the Fund as portfolio securities on the date hereof or any securities or other instruments received in exchange for, or as a replacement of, the Notes or any Eligible Notes as a result of an exchange offer, debt restructuring, reorganization or similar transaction pursuant to which the Notes or Eligible Notes are exchanged for, or replaced with, new securities of the Issuer or a third party, other than Notes or securities which are or become "Eligible Securities" as defined in paragraph (a)(10) of Rule 2a-7. </P>

<P>&#9;&#9;(e)  "Loss" incurred as a result of a Contribution Event means the excess of the Amortized Cost Value of the Eligible Notes subject to a Contribution Event over the amount received by the Fund in connection with such Contribution Event.</P>

<P>&#9;&#9;(f)  "Maximum Contribution Amount" means $100,000,000.</P>

<P>&#9;&#9;(g)  "Related Agreements" means this Agreement and the Related CSAs.</P>

<P>&#9;&#9;(h)  "Related CSAs" means, collectively (a) that certain Capital Support Agreement dated as of the date hereof by and among Legg Mason, LM Capital Support, LLC, a Maryland limited liability company ("LMCS" and, together with Legg Mason, the "Related LMCS Support Providers") and the Fund and (b) that certain Capital Support Agreement dated as of the date hereof by and among Legg Mason, LM Capital Support 2, LLC, a Maryland limited liability company ("LMCS2" and, together with Legg Mason, the "Related LMCS2 Support Providers"; with the Related LMCS Support Providers and the Related LMCS2 Support Providers being hereinafter referred to as the "Related Support Providers) and the Fund, as each may be amended and in effect from time to time.</P>

<P>&#9;&#9;(i)  "Related Segregated Account" means that certain "Segregated Account" as defined in each Related CSA.</P>

<P>&#9;&#9;(j)  "Related Subsidiary Support Provider" means any Related Support Provider other than Legg Mason.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">3</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;&#9;(k)  "Segregated Account" means an account established by LMC for the benefit of the Fund at a bank which is a qualified custodian under the 1940 Act, which may be an interest-bearing account and/or which account's assets may be invested in money market instruments.  On any business day during the term of the Agreement the Segregated Account shall hold cash or cash equivalent securities in an amount equal to the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by either Support Provider to the Fund.  The assets of the Segregated Account shall be available to the Fund by means of ACH transfer initiated by the Fund without the requirement of further action or consent by LMC. </P>

<P>&#9;2.  <U>Covenants of the Fund</U>.  The Fund agrees that:</P>

<P>&#9;&#9;(a)  To the extent consistent with the Fund's interest, the Board shall consult with the Support Providers with respect to all decisions regarding each Eligible Note (including, but not limited to, any decision to sell the Eligible Note or to forgo the right to any payment) prior to the occurrence of a Contribution Event with respect to that Eligible Note.  Nothing in this Agreement shall be construed to cause the delegation by the Board to any person any authority which is not permitted to be delegated under Rule 2a-7.</P>

<P>&#9;&#9;(b)  The Fund will retain any Capital Contribution and not include the Capital Contribution in any dividend or other distribution to the Fund's shareholders.  For the avoidance of doubt, for purposes of this subparagraph, the redemption of the Fund's shares shall not constitute a "distribution" to shareholders.</P>

<P>&#9;&#9;(c)  Prior to the Fund taking any action or receiving any payment that would result in a Contribution Event under clauses 1(c)(i) or (ii) above, the Fund will provide the Support Providers with no less than one business day's notice that the Fund intends to take such action or expects to receive such payment, and will sell to either of the Support Providers, if either elects to purchase (with such election to be in the form of a written notice delivered to the Fund by such Support Provider in accordance with the notice provisions of Section 6(d) within one business day of the aforesaid notice by the Fund), all of the Eligible Notes that are the subject of the intended action at a cash price equal to the greater of (i) the Amortized Cost Value of such Eligible Notes, including all accrued and unpaid interest theron and (ii) the market value of such Eligible Notes.  The Fund will also sell to either of the Support Providers at any time within five business days before the date on which the Fund is required to sell Eligible Notes under clause (d) below, if either elects to purchase (with such election to be in the form of a written notice delivered to the Fund by such Support Provider in accordance with the notice provisions of Section 6(d) hereof, to be received by the Fund at least one business day prior to the date on which the Fund is required to sell the Eligible Notes under clause (d) below), all Eligible Notes that are outstanding and held by the Fund at a cash price equal to the greater of (i) the Amortized Cost Value of such Eligible Notes, including all accrued and unpaid interest thereon and (ii) the market value of such Eligible Notes.  Notwithstanding anything to the contrary contained in this Section 2(c), each Support Provider hereby acknowledges and agrees that the Fund is required pursuant to the terms of the Related CSAs to sell the Eligible Notes to the Related Support Providers in the same manner and under the same circumstances as is provided for in this Section 2(c) and as a result there may be insufficient Eligible Notes available to honor all purchase elections in their entirety under all Related Agreements.  In that circumstance, (1) Legg Mason agrees that it shall only make purchase requests under one Related Agreement and the parties hereto agree that to the extent Legg Mason makes a purchase request, it shall be entitled to purchase all the Eligible Notes it has requested to purchase, and LMC agrees that to the extent Legg Mason has elected to purchase all the Eligible Notes, the Fund's obligations to LMC under this Section 2(c) have been satisfied; and (2) to the extent Legg Mason has elected to purchase less than all of the Eligible Notes but after giving effect to any purchase request by Legg Mason there still exists insufficient Eligible Notes to satisfy the purchase request being made by LMC and any other Related Subsidiary Support Provider (the amount of Eligible Notes remaining available to be purchased being the "Available Notes"), the Fund shall be deemed to have satisfied its obligations hereunder so long as the amount of Eligible Notes LMC has requested to purchase hereunder is only reduced by an amount which permits LMC to purchase at least forty percent (40%) of the Available Notes and the Fund takes similar action under the Related CSAs as it relates to the obligation to sell to any other such Related Subsidiary Support Provider.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">4</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;&#9;(d)  The Fund will promptly sell the Eligible Notes, to the extent they otherwise continue to be held by the Fund, on the business day immediately prior to the date set forth in subparagraph 3(c)(iii).</P>

<P>&#9;3.  <U>Contributions to Fund</U>.</P>

<P>&#9;&#9;(a)  If a Contribution Event occurs prior to the occurrence of a Termination Event, the Support Provider will make a Capital Contribution in an amount equal to the lower of (i) forty percent (40%) of the Loss incurred as a result of such Contribution Event, or (ii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by either Support Provider to the Fund under this Agreement.  The parties hereto acknowledge that the Related CSA of the Related LMCS Support Providers provides for a Capital Contribution to be made by the Related LMCS Support Providers under its Related CSA in an identical amount and the Related CSA of the Related LMCS2 Support Providers provides for a Capital Contribution to be made by the Related LMCS2 Support Providers thereunder in an amount equal to the lower of (i) twenty percent (20%) the Loss incurred as a result of such Contribution Event, or (ii) the Maximum Contribution Amount provided for in the Related CSA of the Related LMCS2 Support Providers reduced by the amount of any Capital Contributions previously made by either Related LMCS2 Support Provider to the Fund under that Related CSA.</P>

<P>&#9;&#9;(b)  The Support Providers shall make the Capital Contribution to the Fund not later than one business day after the occurrence of a Contribution Event, by 12:00 noon, Eastern Time.  Each Capital Contribution made hereunder shall be made in immediately available funds, without deduction, set-off or counterclaim, to the Fund.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">5</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;&#9;(c)  The obligation of the Support Providers to make Capital Contributions pursuant to this Agreement shall terminate upon the earlier of (such occurrence, the "Termination Event"): (i) the Support Providers have made Capital Contributions equal to the Maximum Contribution Amount, (ii) the Fund no longer holds Eligible Notes, or (iii) 5:00 p.m. Eastern Time on March 31, 2009.  If an event constitutes both a Termination Event and a Contribution Event, then the Termination Event will not be deemed to have occurred until the Support Providers have made any Capital Contributions required under this Agreement with respect to such Contribution Event.</P>

<P>&#9;&#9;(d) The obligations of the Support Providers to make Capital Contributions hereunder shall be joint and several.  Any required Capital Contribution hereunder may be made by either Support Provider, in the sole discretion of the Support Providers<A NAME="_DV_C21">, provided, however, nothing contained herein shall in any manner limit the Fund's rights to receive all amounts due hereunder, including, without limitation, its right to draw funds from the Segregated Account as provided for herein<A NAME="_DV_M50"></A></A>.</P>

<P>&#9;&#9;(e)  If the Support Providers make a Capital Contribution when due, then the amount that LMC is obligated to maintain in the Segregated Account shall be reduced to give effect to such Capital Contribution.  In the event that the Support Providers do not make a Capital Contribution when due, the Fund will draw funds from the Segregated Account by 4:00 p.m. on the day that such Capital Contribution was required to have been made and in an amount equal to the Capital Contribution that is due.  Any amount withdrawn from the Segregated Account shall be deemed to be a Capital Contribution made hereunder by the Support Providers.</P>

<P>&#9;4.  <U>Reliance by the Fund and the Board</U>.  The Support Providers acknowledge and consent to:</P>

<P>&#9;&#9;(a)  The Board's reliance on the Support Providers' obligations under this Agreement in making any determination required under Rule 2a-7;  </P>

<P>&#9;&#9;(b) For purposes of calculating the Fund's current mark-to-market net asset value for purposes of Rule 2a-7, the inclusion of the Capital Contribution that would be payable under this Agreement if all the Eligible Notes were sold on the date of such calculation for the market value used to calculate such net asset value;</P>

<P>&#9;(c)  The inclusion of the Capital Contribution that would be payable to the Fund under this Agreement if all of the Eligible Notes were sold on the date of such net asset value calculation in the Fund's audited or unaudited financial statements, to the extent required by generally accepted accounting principles; and</P>

<P>&#9;(d)  The Support Providers' obligations under this Agreement shall be supported by the Segregated Account as defined in Section 1(k) of this Agreement.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">6</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;5.  <U>Representations and Warranties</U>.  The Support Providers hereby represent and warrant that:</P>

<P>&#9;&#9;(a)  They are duly organized and validly existing under the laws of the State of Maryland and are in good standing under such laws;</P>

<P>&#9;&#9;(b)  They have taken all necessary action to authorize the execution, delivery and performance of this Agreement; and</P>

<P>&#9;&#9;(c)  Their obligations under this Agreement constitute their legal, valid and binding obligations, enforceable in accordance with its terms subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors' rights generally and subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought in a proceeding in equity or at law). </P>

<P>&#9;6.  <U>General</U>.</P>

<P>&#9;&#9;(a)  None of the parties may assign its rights under this Agreement to any person or entity, in whole or in part, without the prior written consent of the other parties.</P>

<P>&#9;&#9;(b)  No waiver of any provision hereof or of any right or remedy hereunder shall be effective unless in writing and signed by the party against whom such waiver is sought to be enforced.  No delay in exercising, no course of dealing with respect to or no partial exercise of any right or remedy hereunder shall constitute a waiver of any other right or remedy, or future exercise thereof.</P>

<P>&#9;&#9;(c)  If any provision of this Agreement is determined to be invalid under any applicable statute or rule of law, it is to that extent to be deemed omitted, and the balance of this Agreement shall remain enforceable.</P>

<P>&#9;&#9;(d)  Subject to the next sentence, all notices shall be in writing and shall be deemed to be delivered when received by certified mail, postage prepaid, return receipt requested, or when sent by facsimile or e-mail confirmed by call back.  All notices shall be directed to the address set forth under the party's signature or to such other address as either party may, form time to time, designate by notice to the other party.</P>

<P>&#9;&#9;(e)  No amendment, change, waiver or discharge hereof shall be valid unless in writing and signed by the Support Providers and the Fund<A NAME="_DV_C28">, and, to the extent of any change to the date set forth in Section 3(c)(iii) hereof, the approval of the Staff of the Division of Investment Management of the Securities and Exchange Commission (the "Staff").  In addition, the parties hereto hereby agree to provide the Staff with prompt written notice of any amendment, change or waiver to this Agreement which does not otherwise require the Staff's approval.</A></P>

<P>&#9;&#9;(f)  This Agreement shall be governed in all respects by the laws of the State of Maryland without regard to its conflict of laws provisions.</P>

<P>&#9;&#9;(g)  This Agreement constitutes the complete and exclusive statement of all mutual understanding between the parties with respect to the subject matter hereof, superseding all prior or contemporaneous proposals, communications and understanding, oral or written.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">7</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;&#9;(h)  This Agreement is solely for the benefit of the Fund and the Support Providers, and no other person shall acquire or have any rights under or by virtue of this Agreement.</P>

<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="CENTER">[SIGNATURE PAGE FOLLOWS]</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">8</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P>&#9;IN WITNESS WHEREOF, the Support Providers and the Fund have caused this Capital Support Agreement to be duly executed this 31st day of March, 2008.</P>

<P>&nbsp;</P><DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>

<P>LEGG MASON, INC.</P>

<P>By:&nbsp;&nbsp;<U>/s/ Charles J. Daley, Jr.</U><BR>
Name:  Charles J. Daley, Jr.<BR>
Title:  Chief Financial Officer, <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasurer<BR>
<BR>
<BR>
ADDRESS FOR NOTICES:<BR>
100 Light Street<BR>
Baltimore, Maryland 21202<BR>
<BR>
<BR>
LM CAPITAL COMPANY, LLC<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/ Charles J. Daley, Jr.</U><BR>
Name:  Charles J. Daley, Jr.<BR>
Title: President and Treasurer<BR>
<BR>
<BR>
ADDRESS FOR NOTICES:<BR>
100 Light Street<BR>
Baltimore, Maryland 21202<BR>
<BR>
<BR>
LIQUID RESERVES PORTFOLIO,<BR>
A SERIES OF MASTER<BR>
PORTFOLIO TRUST<BR>
<BR>
<BR>
By:&nbsp;&nbsp;<U>/s/ R. Jay Gerken</U><BR>
Name:  R Jay Gerken<BR>
Title: President and Chief<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Officer<BR>
<BR>
ADDRESS FOR NOTICES:<BR>
100 Light Street<BR>
Baltimore, Maryland 21202<BR>
<BR>
</P></DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>

<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">9</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<B><P ALIGN="CENTER">SCHEDULE A</P>
</B><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=768>
<TR><TD WIDTH="22%" VALIGN="TOP">
<B><P ALIGN="CENTER">Cusip</B></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><P ALIGN="CENTER">Security Description/Issuer</B></TD>
<TD WIDTH="23%" VALIGN="TOP">
<B><P ALIGN="CENTER">Maturity Date</B></TD>
<TD WIDTH="22%" VALIGN="TOP">
<B><P ALIGN="CENTER">Quantity Held</B></TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="33%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FAB3</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">23-May-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">75,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FAB3</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">23-May-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">150,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FAC1</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">23-May-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">100,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FAM9</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">15-May-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">200,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FBF3</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">03-Jul-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">100,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FBM8</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">25-Jun-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">100,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FBM8</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">25-Jun-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">100,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FBM8</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">25-Jun-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">125,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FBP1</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">15-Jul-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">100,000,000.00</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">05461FBQ9</TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">Axon Financial Funding LTD</TD>
<TD WIDTH="23%" VALIGN="TOP">
<P ALIGN="CENTER">15-Jul-08</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P ALIGN="CENTER">97,000,000.00</TD>
</TR>
</TABLE>

<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=828>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">10</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="22%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
<TD WIDTH="25%" VALIGN="TOP" BGCOLOR="#000000" HEIGHT=1><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

</BODY>
</HTML>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]