Document:

Exhibit 10.41

 Exhibit 10.41 
  
 FIRST AMENDMENT TO AMENDED AND RESTATED 
  
 MANAGEMENT AGREEMENT 
  

by and between 
  
 RESIDENCE INN BY MARRIOTT, INC. 
  
 as “MANAGER” 
  
 and

  
 AHM RES II LIMITED PARTNERSHIP 
  
 as “LESSEE” 
  
 Dated as of November 10, 2004 
  

  
 FIRST AMENDMENT TO AMENDED
AND RESTATED 
 MANAGEMENT AGREEMENT 
  
 This First Amendment to Amended and Restated Management Agreement (“First Amendment”) is executed as of the 10th day of November 2004 (“Execution Date”), by AHM RES II LIMITED PARTNERSHIP, a Virginia limited partnership
(“Lessee”), with a mailing address at 10 South Third Street, Richmond, Virginia 23219, and RESIDENCE INN BY MARRIOTT, INC. (“Manager”), a Delaware corporation, with a mailing address at 10400 Fernwood Road, Bethesda, Maryland
20058. 
  
 R E C I T A L S : 
  
 A. Lessee and Manager entered into that certain Amended and Restated
Management Agreement dated as of August 28, 2002 (“Management Agreement”) for the continued management of the Inns (as defined in the Management Agreement) by Manager. 
  
 B. Bossier RES II Limited Partnership (“Bossier Lessee”) and Manager entered into that certain Amended and
Restated Management Agreement dated as of August 28, 2002 (“Bossier Management Agreement”) for the continued management of the Residence Inn by Marriott Hotel located in Shreveport/Bossier City, Louisiana (“Bossier Inn”).

  
 C. Lessee, Bossier Lessee and Manager entered into that
certain Coordination Agreement dated as of August 28, 2002 (“Coordination Agreement”) for the purpose of consolidating certain calculations under the Management Agreement and the Bossier Management Agreement. 
  
 D. Lessee and Bossier Lessee are indirect, wholly-owned subsidiaries of Apple
Hospitality Two, Inc., a Virginia corporation and a real estate investment trust (“Apple Hospitality”). 
  

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 E. In conjunction with certain financing intended to be secured by certain of the Inns and the Bossier
Inn, Apple Hospitality is the indirect owner of (i) eleven (11) Inns to be owned and held by Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Pool 1 Owner”), the general partner of which is AHT RES II GP,
Inc., a Virginia corporation, and the limited partner of which is AHT RES II LP, Inc., a Virginia corporation; (ii) ten (10) Inns to be owned and held by AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Pool 2
Owner”), the general partner of which is AHT Residence Inn II GP, Inc., a Virginia corporation, and the limited partner of which is AHT Residence Inn II LP, Inc., a Virginia corporation; and (iii) two (2) Inns to be owned and held by AHT
Carolina Limited Partnership, a North Carolina limited partnership (“Residual Owner”), the general partner of which is AHT Carolina GP, Inc., a North Carolina corporation, and the limited partner of which is AHT Carolina LP, Inc., a North
Carolina corporation (Pool 1 Owner, Pool 2 Owner and Residual Owner are hereinafter referred to as “Owner.”) 
  
 F. Pool 1 Owner has leased to Lessee, Pool 2 Owner has leased to Lessee, Residual Owner has leased to Lessee, and Lessee has leased from Pool 1 Owner,
Pool 2 Owner, and Residual Owner their respective Inns pursuant to those certain Lease Agreements of even date hereof. 
  
 G. Lessee and Manager desire and have agreed to amend the definition of “Inns” under the Management Agreement to include the Bossier Inn and to
make other amendments to the Management Agreement that are consistent with such amendment. 
  
 H. Bossier Lessee, Lessee and Manager have terminated the Bossier Management Agreement pursuant to that certain Termination of Bossier Management Agreement of even date hereof. 
  

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 I. Lessee, Bossier Lessee and Manager have terminated the Coordination Agreement pursuant to that certain
Termination of Coordination Agreement of even date hereof. 
  
 J.
Lessee and Manager desire and have agreed to amend the Management Agreement, upon the terms and conditions set forth in this First Amendment. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained in this First Amendment and other good and valuable consideration, the receipt of which
is hereby acknowledged, Lessee and Manager agree to amend the Management Agreement as follows: 
  
 ARTICLE I 
  
 AMENDMENTS

  
 1.01 Definition of Terms 
  
 A. Any capitalized term that is not specifically defined in this First
Amendment shall have the meaning set forth in the Management Agreement. The following terms when used in the Management Agreement shall have the meanings indicated: 
  
 “Administrative Expenses” shall mean, with respect to any Fiscal Year, an annual amount
equal to the lesser of (i) the aggregate amount of payments for, or reserves created for payment for, administrative expenses of Owner with respect to such Fiscal Year; or (ii) an amount equal to $375,000 for Fiscal Year 1996, which amount will be
increased by the CPI Percentage for each Fiscal Year thereafter. 
  
 “Agreement” or “Management Agreement” shall mean that certain Amended and Restated Management Agreement dated as of August 28, 2002 with respect to the twenty-three (23) Inns listed
on Exhibit “A” hereto. 
  
 “Capital Contributions” shall mean Seventy Million Seven Hundred Seven Thousand Dollars ($70,707,000); provided, however, that upon the Termination of this Agreement with respect to a given Inn or Inns (whether in
connection with the Sale of the Inn or 

  

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Inns or pursuant to other applicable provisions in this Agreement), the amount of Capital Contributions shall be reduced by the applicable percentage
attributable to such Inn or Inns as set forth on Exhibit “B” hereto. 
  
 “Inn” or “Inns” shall refer individually or collectively to the twenty-three (23) inns located on the
twenty-three (23) Sites described on Exhibit “A” hereto. The term “Inn” or “Inns” shall incorporate not only the Site or Sites but also all easement or other appurtenant rights thereto, together with the Buildings and
all other improvements constructed or to be constructed thereon, and all FF&E and Fixed Asset Supplies installed or located therein. 
  
 “Lender” shall mean Wachovia Bank, National Association, a national banking association, and its successors and assigns.

  
 “Loan Agreement” shall mean,
individually and collectively, the documents dated as of November         , 2004, evidencing, securing or providing for the disbursement of that certain loan in the original principal amount of One
Hundred Thirty Five Million Dollars ($135,000,000.00), with an amortization period of twenty-five (25) years and an interest rate of 6.880% per annum, secured by, among other things, mortgages, deeds of trust or security instruments that encumber
title to the Inns. 
  
 “Maturity
Date” shall mean                 ,         , the original stated maturity date of the indebtedness incurred by
Owner to Lender subject to the Loan Agreement, or, if earlier, the date of any refinancing or prepayment of such indebtedness. 
  
 “Operating Profit Objective” shall mean the amount of Twenty-Five Million Three Hundred Thousand Dollars ($25,300,000)
provided, however, that upon the Termination of this Agreement with respect to a given Inn or Inns (whether in connection with the Sale of the Inn or Inns, or pursuant to other applicable provisions of this Agreement), the Operating Profit 

  

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Objective shall be reduced by the applicable percentage attributable to such Inn or Inns, as set forth on Exhibit “B” hereto. 
  
 “Owner” shall have the meaning ascribed to
it in Recital E of this First Amendment. 
  
 “Owner’s Capital Return” shall mean the sum of: (a) an amount which, when added to all previous or simultaneous retentions or receipts by Owner of Operating Profit (less the aggregate amount of Qualifying Debt Service
(including that portion of Qualifying Debt Service paid by Owner pursuant to the Original Management Agreement) and Administrative Expenses paid or repaid by Owner (or reserved for) out of such Operating Profit), Net Sales Proceeds and Net
Refinancing Proceeds, equals a cumulative return on the weighted average Adjusted Capital Contributions, from time to time, of twelve percent (12%) per annum from the Effective Date through the date such Net Sales Proceeds or Net Refinancing
Proceeds are realized; plus (b) an amount which equals the Adjusted Capital Contributions as of the date on which such Net Sales Proceeds or Net Refinancing Proceeds are realized by Owner. 
  
 “Term Loan” shall mean the term loans
provided by Lender to Owner pursuant to the Loan Agreement. 
  
 “Total Original Cost” shall mean the amount of One Hundred Ninety Million Seven Hundred Eighty-Three Thousand Dollars ($190,783,000); provided, however, that upon the Termination of this Agreement
with respect to a given Inn or Inns (whether in connection with a Sale of the Inn or Inns or pursuant to other applicable provisions of this agreement), the Total Original Cost, as used thereafter, shall be reduced by the applicable percentage
attributable to such Inn or Inns, as set forth on Exhibit “B”. 
  
 B. The terms “Bossier City Inn”, “Debt Service Reserve Account” and [Defeasance Deposits] shall be deleted in their entirety. 
  

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 1.02 Exhibits 
  
 A. Exhibit “A” attached to the Management Agreement shall be amended by adding the following text to the end
thereof: 
  

	 	23)	Shreveport/Bossier City, Louisiana 

	 	  	1001 Gould Drive 

	 	  	Bossier City, LA 71111 

  
 B. Exhibit “A-1” attached to the Management Agreement shall be amended to add the text set forth in Exhibit “A-1” attached
hereto to the end thereof. 
  
 C. Exhibit “B” attached
to the Management Agreement shall be deleted in its entirety and replaced with Exhibit “B” attached hereto. 
  
 D. Exhibit “C” attached to the Management Agreement shall be deleted in its entirety and replaced with Exhibit “C” attached hereto.

  
 E. Exhibit “D” attached to the Management Agreement
shall be deleted in its entirety and replaced with Exhibit “D” attached hereto. 
  
 F. Exhibit “E” attached to the Management Agreement shall be amended by adding the following text to the end thereof: 
  

			
	 23
	  	Residence Inn Bossier City Shreveport
	 	  	Best Western Richmond Suites Hotel
	 	  	Best Western Chateau Suite Hotel
	 	  	Holiday Inn Shreveport Airport
	 	  	Holiday Inn Bossier City
	 	  	Holiday Inn Shreveport I 20 Downtown
	 	  	Clarion Shreveport

  

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 1.03 Other Amendments 
  
 A. The first sentence of Section 5.05 of the Management Agreement shall be amended to delete in their entirety the words
“and to fund any shortfalls in the Debt Service Reserve Account”. 
  
 B. Section 12.01 of the Management Agreement shall be deleted in its entirety and replaced with the following: 
  
 All real estate and personal property taxes, levies, assessments and similar charges on or relating to each Inn (“Impositions”) during each Inn
Term shall be paid by Manager to Lessee from Gross Revenues along with the interim amounts paid to Lessee pursuant to Section 5.04.A. The interim amount of Impositions to be paid by Manager to Lessee shall be calculated by prorating the full Fiscal
Year budgeted amount (or the actual amount, if available) of such Impositions equally over thirteen (13) Accounting Periods. Impositions shall be a Deduction in determining Operating Profit. Lessee shall, within five (5) days of receipt, furnish
Manager with copies of official tax bills and assessments which it may receive with respect to any of the Inns. Manager shall reconcile prior payments of the Impositions to Lessee for the applicable Fiscal Year with the actual amount of such
Impositions for the applicable Fiscal Year, and the parties shall make any necessary adjustments in connection with the interim accounting statements or year-end statement as needed. Notwithstanding the foregoing, Manager shall only be required to
pay any Impositions to Owner to the extent that Gross Revenues are available under this Agreement. Lessee shall be solely responsible for paying the Impositions to the appropriate authorities in compliance with all legal requirements. Lessee shall
make such payments before any fine, penalty, or interest is added thereto or lien placed upon any Inn or upon the Agreement, unless payment thereof is in good faith being contested and enforcement thereof is stayed. Either Owner, Lessee or Manager
(in which case Lessee 

  

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agrees to sign, or cause Owner to sign, the required applications and otherwise cooperate with Manager in expediting the matter) may initiate proceedings to
contest any Imposition, and all reasonable costs of any such contest shall be paid from Gross Revenues and shall be a Deduction in determining Operating Profit. 
  

C. Article XVIII of the Management Agreement shall be amended to substitute the words “twenty-three (23) Inns” for the words “twenty-two
(22) Inns”, wherever the words “twenty-two (22) Inns” are used therein. 
  
 ARTICLE II 
  
 MISCELLANEOUS
PROVISIONS 
  
 2.01 Full Force and Effect 

 
 This First Amendment amends the Management Agreement and
the terms and provisions hereof shall supersede and govern over any inconsistent terms or provisions contained in the Management Agreement. All terms and provisions of the Management Agreement not expressly modified herein are hereby confirmed and
ratified and remain in full force and effect, and, as amended hereby, constitute valid and binding obligations of Lessee and Manager. 
  
 2.02 Authorization to Execute 
  
 Each individual executing this First Amendment on behalf of Lessee or Manager, respectively, represents and warrants that he/she is duly
authorized to execute this First Amendment on behalf of Lessee or Manager, respectively. 
  
 2.03 Counterparts 
  
 This First Amendment may be executed in multiple counterparts, each of which it shall be deemed an original, but all of which shall constitute one and the same instrument. Signatures to this First Amendment which are
transmitted by facsimile shall have the same binding effect as original signatures. 
  

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 IN WITNESS WHEREOF, the parties hereto have
caused this First Amendment to be executed as of the day and year first written above. 
  

											
	 	 	 	 	 AHM RES II LIMITED PARTNERSHIP

					
	 	 	 	 	 	 	By:	 	 AHM Res II, GP, its general partner

	 Attest:
	 	 	 	 	 	 	 	 
					
	 	 	 	 	 	 	 By:
	 	 /s/ David S. McKenney

	 Assistant Secretary
	 	 	 	 
			
	 	 	 	 	 RESIDENCE INN BY MARRIOTT, INC.

	 Attest:
	 	 	 	 
				
	 /s/ Margery Brenerman
	 	 	 	 By:
	 	 /s/ M. Lester Pulse

	 Assistant Secretary
	 	 	 	 	 	 M. Lester Pulse, Vice President

  

  
 EXHIBIT A-1 
  
 Legal Description 
  
 PARCEL 1: 
  
 A tract of land located in the Southeast Quarter (SE/4) of Section 28,
Township 18 North, Range 13 West, Bossier City, Bossier Parish, Louisiana, being more particularly described as follows, to-wit: Beginning at the southeast corner of Lot 100 of Central Plaza Subdivision, Unit Number 2, as recorded in Plat Book 339,
Pages 466 and 467 of the Records of Bossier Parish, Louisiana, run thence South 00o27’10” East a distance of 545.59 feet; run thence North 89o14’06” East a distance of 45.0 feet to the point of beginning of tract herein
described; continue thence North 89o14’06” East a distance of 441.10 feet to the westerly right of way line of Gould Drive, a public right of way, as recorded in Book 339, Page 433 and Book 450, Page 357 of the Records of Bossier
Parish, Louisiana; run thence along the westerly right of way line South 41o43’36” West a distance of 245.31 feet; continue thence along said westerly right of way line South 37o39’13” West a distance of 520.78 feet;
thence leaving said westerly right of way line run North 00o27’10” West a distance of 374.63 feet; run thence North 89o27’43” East a distance of 45 feet; run thence North 00o27’10” West a distance of
214.47 feet to the point of beginning of tract, containing 2.9603 acres or 128,952.02 square feet. 
  
 PARCEL 2: 
  
 A tract of land located in the Southeast Quarter (SE/4) of Section 28, Township 18 North, Range 13 West, Bossier City, Bossier Parish, Louisiana, being
more particularly described as follows, to-wit: Beginning at the Southeast corner of Lot 100 of Central Plaza Subdivision, Unit Number 2, as recorded in Plat Book 339, Pages 466 and 467 of the Records of Bossier Parish, Louisiana, run thence South
00o27’10” East a distance of 545.59 feet; run thence North 89o14’06” East a distance of 21.00 feet to the point of beginning of tract herein described; continue thence North 89o14’06” East a distance of
24.00 feet; run thence South 00o27’10” East a distance of 214.47 feet; run thence South 89o27’43” West a distance of 24.00 feet; run thence North 00o27’10” West a distance of 214.37 feet to the point of
beginning of tract, containing 0.1181 acres or 5,146.13 square feet. 
  
 The land described as Parcel 2 is contiguous with the land described as Parcel 1 along a course beginning at the Northeasternmost corner of said Parcel 2 running thence South 00o27’10” East 214.47 feet and thence South
89o27’43” West a distance of 24 feet, more fully shown on survey described below. The company hereby insures the insured against loss or damage which the insured shall sustain by reason of any inaccuracy in the prior statement.

  
 Said Parcel 1 and Parcel 2 are the same properties shown on
that certain As-Built Survey prepared by Coyle Engineering Co., Inc., dated December 14, 1995. 
  

  
 EXHIBIT B 
  
 Percentages Used for Reductions 
  

						
	 	 	 	  	Applicable Percentage

	 
	 1)
	 	Birmingham, Alabama	  	5.15	%
			
	 2)
	 	Arcadia, California	  	6.41	%
			
	 3)
	 	Irvine, California	  	5.08	%
			
	 4)
	 	Placentia, California	  	3.33	%
			
	 5)
	 	Boca Raton, Florida	  	5.19	%
			
	 6)
	 	Jacksonville, Florida	  	4.16	%
			
	 7)
	 	Pensacola, Florida	  	2.65	%
			
	 8)
	 	St. Petersburg/Clearwater, Florida	  	3.70	%
			
	 9)
	 	Chicago/Deerfield, Illinois	  	4.08	%
			
	 10)
	 	Boston/Danvers, Massachusetts	  	4.50	%
			
	 11)
	 	Kalamazoo, Michigan	  	3.38	%
			
	 12)
	 	Jackson, Mississippi	  	4.85	%
			
	 13)
	 	Santa Fe, New Mexico	  	4.98	%
			
	 14)
	 	Charlotte North, North Carolina	  	2.88	%
			
	 15)
	 	Greensboro, North Carolina	  	5.95	%
			
	 16)
	 	Las Vegas, Nevada	  	11.70	%
			
	 17)
	 	Akron, Ohio	  	3.80	%
			
	 18)
	 	Philadelphia/Berwyn, Pennsylvania	  	4.99	%
			
	 19)
	 	Columbia, South Carolina	  	3.63	%
			
	 20)
	 	Spartanburg, South Carolina	  	2.57	%
			
	 21)
	 	Memphis East, Tennessee	  	2.61	%
			
	 22)
	 	Lubbock, Texas	  	2.34	%
			
	 23)
	 	Bossier City, Louisiana	  	2.07	%
			
	 	 	TOTAL	  	100.00	%
	 	 	 	  	
	

  

  
 EXHIBIT C 
  
 Schedule of Principal and Interest Payments 
  

  
 EXHIBIT D 
  
 First Priority Return Reduced by the Applicable Percentage 

 

						
	 	 	 	  	Applicable Percentage

	 
	 1)
	 	Birmingham, Alabama	  	5.15	%
			
	 2)
	 	Arcadia, California	  	6.41	%
			
	 3)
	 	Irvine, California	  	5.08	%
			
	 4)
	 	Placentia, California	  	3.33	%
			
	 5)
	 	Boca Raton, Florida	  	5.19	%
			
	 6)
	 	Jacksonville, Florida	  	4.16	%
			
	 7)
	 	Pensacola, Florida	  	2.65	%
			
	 8)
	 	St. Petersburg/Clearwater, Florida	  	3.70	%
			
	 9)
	 	Chicago/Deerfield, Illinois	  	4.08	%
			
	 10)
	 	Boston/Danvers, Massachusetts	  	4.50	%
			
	 11)
	 	Kalamazoo, Michigan	  	3.38	%
			
	 12)
	 	Jackson, Mississippi	  	4.85	%
			
	 13)
	 	Santa Fe, New Mexico	  	4.98	%
			
	 14)
	 	Charlotte North, North Carolina	  	2.88	%
			
	 15)
	 	Greensboro, North Carolina	  	5.95	%
			
	 16)
	 	Las Vegas, Nevada	  	11.70	%
			
	 17)
	 	Akron, Ohio	  	3.80	%
			
	 18)
	 	Philadelphia/Berwyn, Pennsylvania	  	4.99	%
			
	 19)
	 	Columbia, South Carolina	  	3.63	%
			
	 20)
	 	Spartanburg, South Carolina	  	2.57	%
			
	 21)
	 	Memphis East, Tennessee	  	2.61	%
			
	 22)
	 	Lubbock, Texas	  	2.34	%
			
	 23)
	 	Bossier City, Louisiana	  	2.07	%
			
	 	 	TOTAL	  	100.00	%Exhibit 10.42

 Exhibit 10.42 
  
 FIRST AMENDMENT TO OWNER AGREEMENT 
  
 THIS FIRST AMENDMENT TO OWNER AGREEMENT (“First Amendment”) is being entered into as of November 10, 2004,
by and among MARRIOTT RESIDENCE INN II LIMITED PARTNERSHIP, a Delaware limited partnership with a mailing address at 814 East Main Street, Richmond, Virginia 23219 (“Pool 1 Lessor”); AHM RES II LIMITED PARTNERSHIP, a Virginia
limited partnership with a mailing address at 814 East Main Street, Richmond, Virginia 23219 (“Lessee”); AHT RESIDENCE INN II LIMITED PARTNERSHIP, a Virginia limited partnership with a mailing address at 814 East Main Street,
Richmond, Virginia 23219 (“Pool 2 Lessor”); AHT CAROLINA LIMITED PARTNERSHIP, a Virginia limited partnership with a mailing address at 814 East Main Street, Richmond, Virginia 23219 (“Residual Lessor”) (Pool 1 Lessor, Pool
2 Lessor and Residual Lessor referred to herein jointly and severally, as “Lessor”); and RESIDENCE INN BY MARRIOTT, INC., a Delaware corporation with a mailing address at 10400 Fernwood, Bethesda, MD 20817 (“Manager”).

  
 RECITALS: 
  
 WHEREAS, Pool 1 Lessor owns fee simple title to eleven (11) Inns,
currently operated under the trade name “Residence Inn” or “Residence Inn by Marriott” or “Marriott Residence Inn,” described on Exhibit A attached to this Agreement and incorporated herein (these eleven
(11) Inns collectively referred to herein as the “Pool 1 Inns” or, individually, as a “Pool 1 Inn”). 
  
 WHEREAS, Pool 2 Lessor owns fee simple title to ten (10) Inns, currently operated under the trade name “Residence Inn” or “Residence
Inn by Marriott” or “Marriott Residence Inn,” described on Exhibit A attached to this Agreement and incorporated herein (these ten (10) Inns collectively referred to herein as the “Pool 2 Inns” or,
individually, as a “Pool 2 Inn”). 
  

 WHEREAS, Residual Lessor owns fee simple title to two (2) Inns, currently operated under the trade
name “Residence Inn” or “Residence Inn by Marriott” or “Marriott Residence Inn”, described on Exhibit A attached to this Agreement and incorporated herein (these two (2) Inns collectively referred to herein as
the “Residual Inns” or individually, as a “Residual Inn”) (the aggregate twenty three (23) Inns consisting of the Pool 1 Inns, the Pool 2 Inns and the Residual Inns collectively referred to herein as the “Inns” or,
individually as an “Inn.” 
  
 WHEREAS, each
Lessor has leased its respective Inns to Lessee, and Lessee has leased the Inns from each respective Lessor, pursuant to those certain Lease Agreements of even date hereof and described more fully on Exhibit B attached to this
Agreement (together and singularly, the “Lease”). 
  
 WHEREAS, Manager operates and manages the Inns pursuant to that certain Amended and Restated Management Agreement dated as of August 28, 2002, as amended by that certain First Amendment to Amended and Restated of Management Agreement
(“First Amendment”) dated as of even date hereof (“Management Agreement”). 
  
 WHEREAS, the Amended and Restated Management Agreement for the Residence Inn by Marriott Hotel located in Shreveport/Bossier City, Louisiana (“Bossier Inn”) dated August 28, 2002 has been terminated
pursuant to that certain Termination Agreement of even date hereof. 
  
 WHEREAS, pursuant to the First Amendment, the term “Inns”, as used in the Management Agreement, has been amended to include the Bossier Inn. 
  
 WHEREAS, the Pool 1 Lessor, Lessee and Manager entered into that certain Owner Agreement dated as of August 28, 2002.
The term “Owner Agreement” shall mean and refer to the Owner Agreement dated as of August 28, 2002, as amended by this Agreement. 
  
 WHEREAS, the parties are entering into this Agreement in connection with Lessor’s and Lessee’s loan transactions with Wachovia Bank,
National Association, a national banking association (“Lender”), resulting in One Hundred Thirty-Five Million Dollars ($135,000,000.00) 

  

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in loans secured by, among other things, mortgages, deeds of trust or security instruments that encumber title to certain of the Inns. 
  
 WHEREAS, each Lessor is indirectly owned by Apple Hospitality Two,
Inc. (“Apple Hospitality”), and Manager, at the request of the Pool 1 Lessor, Pool 2 Lessor, Residual Lessor and Bossier RIBM Two, LLC (prior lessor of the Bossier Inn) and Apple Hospitality, has consented to certain elements of the loan
transaction with Lender subject to, among other things: (i) Lessor guarantying the obligations of Lessee under the Management Agreement; and (ii) Lessor agreeing to grant certain protections to Manager in the event the Lease is terminated for any
reason. 
  
 NOW, THEREFORE, for the mutual covenants and
considerations herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound agree as follows: 
  
 1. Definitions. Capitalized terms not specifically
defined herein shall have the meaning provided in the Management Agreement. 
  
 2. Lessor Consideration. Lessor hereby acknowledges that: (i) Lessor derives and expects to derive benefits from this Agreement, and (ii) Lessor has determined that Lessor’s execution, delivery and
performance of this Agreement directly benefit Lessor, are within the partnership purposes of Lessor, and are in the best interest of Lessor. 
  
 3. Acknowledgement of Lease. Manager hereby acknowledges and consents to the lease of Inns from Lessor to Lessee pursuant to the Lease;
provided, however, that the Lease shall be substantially the same in form and content as that lease entered into by Pool 1 Lessor as of August 28, 2002, and other than the terms for property, location and rent, the individual Leases for each Inn
shall be substantially identical in all material respects. The Lease shall not be construed to impose any additional obligations or liabilities upon Manager, and shall not be construed to modify or amend any of the rights and duties of the parties
under the Management Agreement. To the extent that any of the provisions of the Management Agreement impose a 

  

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greater or inconsistent obligation on Lessee than the corresponding provisions of the Lease, then Lessee shall be obligated to comply with, and to take all
actions necessary to prevent breaches or defaults under, the relevant provisions of the Management Agreement. 
  
 4. Termination of the Lease. The parties agree that the Management Agreement and the rights and benefits of Manager thereunder shall not be
terminated or disturbed in any respect except in accordance with the terms of the Management Agreement, and not as a result of any termination of the Lease. Accordingly, if the Lease is terminated for any reason, including, without limitation,
expiration of the term thereof or the “rejection” thereof following Bankruptcy (as defined below) of Lessee (collectively, a “Lease Termination”), Lessor: (a) shall recognize Manager’s rights under the Management Agreement,
(b) agrees that Manager shall not be named as a party in any eviction or other possessory action or proceeding, and that Manager shall not be disturbed in its right to manage the Inns pursuant to the Management Agreement, and (c) shall at the time
of or prior to such Lease Termination either (i) elect not to take either of the actions described in clause (c)(ii) below, in which case all of “Lessee’s” rights, benefits, privileges and obligations under the Management Agreement
with respect to periods after the Lease Termination shall be assumed directly by Lessor, or (ii) cause an “Approved Lessee” (as defined below) to (x) succeed to and assume Lessee’s rights and obligations under the Lease, the
Management Agreement, and the Owner Agreement, or (y) enter into a new lease with Lessor in substantially the same form as the Lease, and assume the rights and obligations of the Lessee under the Management Agreement and the Owner Agreement, the
intent being that the relationship between any successor Lessee, Lessor and Manager be under the same terms and conditions as the relationship between Lessee, Lessor and Manager hereunder and under the Management Agreement and the Lease. Any
successor to Lessee under clause (c)(ii) above shall be subject to Manager’s prior written approval, which approval shall not be withheld or delayed if such successor to Lessee is (i) a person or entity to whom a Sale of the Inns is permitted
under Section 18.01 (A) of the Management Agreement, or (ii) a person or entity who otherwise is approved by Manager in its sole discretion (an “Approved Lessee”). . 
  
 5. Guaranty. Lessor shall be liable for the complete and satisfactory payment and performance of each and
every obligation of Lessee as “Lessee” under the Management 

  

 4 

 
Agreement (the “Guarantied Obligations”). Lessor hereby absolutely, irrevocably, and unconditionally guaranties that the Guarantied Obligations
which are monetary obligations shall be paid when due and payable and that the Guarantied Obligations which are performance obligations shall be fully performed at the times and in the manner such performance is required by the Management Agreement.
This guaranty is an absolute, irrevocable, and unconditional guaranty of payment and performance and the liability of the Lessor hereunder shall be absolute and unconditional irrespective of: (i) any lack of validity, irregularity or enforceability
of the Management Agreement or the Owner Agreement; (ii) any change in the time, manner, place or any other term or condition of payments due under the Management Agreement or the Owner Agreement, or any other amendment or waiver of, or consent to,
any departure from the Management Agreement or the Owner Agreement; (iii) any failure of Manager to enforce the provisions of the Management Agreement or the Owner Agreement against Lessee; or (iv) any other circumstances which might otherwise
constitute a defense available to, or a discharge of, of any of the Guarantied Obligations (other than because, or to the extent, the same have been previously discharged in accordance with the terms of the Management Agreement). If all or any part
of the Guarantied Obligations shall not have been paid when due and payable or performed at the time performance is required, Lessor (without first requiring the Manager to proceed against Lessee, Lessor or any other party or any other security)
shall pay or cause to be paid to Manager the amount thereof as is then due and payable and unpaid (including interest and other charges, if any, due thereon through the date of payment in accordance with the applicable provisions of the Management
Agreement) or perform or cause to be performed such obligations in accordance with the Management Agreement, within ten (10) Business Days after receipt of written notice from the Manager of the failure by Lessee to make such payment or render such
performance; provided, however, that, notwithstanding the foregoing, Lessor shall have the right, in connection with a demand by Manager for payment by Lessor of Guaranteed Obligations, to assert any defenses or claim of Lessee under the Management
Agreement with respect to such Guaranteed Obligations. If for any reason Lessor fails to perform or cause to be performed such obligations, Manager shall have the right to exercise any and all of the remedies available at law or in equity and Lessor
hereby agrees to pay any and all reasonable expenses (including counsel fees and expenses) incurred by Manager in enforcing its rights under the Owner Agreement. The guaranty contained in the Owner Agreement: (i) is a continuing guaranty and shall
remain in full 

  

 5 

 
force and effect until the indefeasible satisfaction and discharge in full of Lessee’s obligations as “Lessee” under the Management Agreement
and Lessor’s and Lessee’s obligations under the Owner Agreement, and (ii) shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment under the Management Agreement or the Owner Agreement becomes
unrecoverable from Lessee by operation of law or for any other reason or must otherwise be returned by Manager upon the insolvency, bankruptcy or reorganization of Lessor or Lessee. 
  
 6. Obligation to Terminate Lease Upon Lessee Default under Management Agreement. Upon receiving a written
request from Manager to do so (and provided that Manager has sent to Lessor a notice as described in Section 5 above with respect to the applicable Default), Lessor shall terminate the Lease if an Event of Default by Lessee has occurred under the
Management Agreement. In terminating the Lease pursuant to this Section 6, Lessor shall issue its notice of termination to Lessee promptly following its receipt of Manager’s request therefor. Lessor shall thereafter promptly initiate, and
thereafter diligently and continuously prosecute, such actions as may be required to confirm such Lease termination and repossess the Inns, including, without limitation, instituting such legal action as may be necessary to accomplish same. Upon
Lessor’s termination of the Lease in accordance with this Section 6, Lessor shall thereupon be obligated to comply with the provisions of Section 4 applicable upon a Lease Termination. 
  
 7. Agreements Relating to Tenancy. In order to address the fact
that Lessee’s interest in the Site and the Inns is leasehold, and to address certain other related matters, the parties agree to the following modifications of the Management Agreement, to be effective for so long as Lessee’s interest in
the Site and Inns is held through tenancy title as that of Lessee: 
  
 A. Subject to the terms of the Management Agreement, Lessor and Lessee covenant and agree, and Manager acknowledges, that: (i) Lessor holds, and shall have, keep and maintain throughout the term of the Management Agreement, good and
marketable fee title to the Inns and Site; (ii) Lessee holds, and shall have, keep and maintain throughout the term of the Management Agreement, leasehold title to the Inns and Site free and clear of any and all liens, encumbrances 

  

 6 

 
or other charges, except for those specifically set forth in Section 3.01.A. of the Management Agreement. 
  
 B. In connection with any “Sale of the Inns” that is consented to
by Manager under Article XVIII of the Management Agreement, Lessor and Lessee agree that an agreement in form and substance similar to this Agreement will be required in order to ensure that Manager will incur no greater liability, cost or risk of
termination of the Management Agreement as a result of such “Sale of the Inns”.  
  
 C. If Lessor hereafter encumbers the Site and/or the Inns with a Mortgage, the Subordination Agreement required in Article XVII of the Management
Agreement with respect to such Mortgage shall be modified (i) to account for the facts that Lessor (rather than Lessee) has encumbered the Site and/or the Inns with such Mortgage, and (ii) to provide that the parties’ rights and obligations
under such Subordination Agreement shall, as applicable, apply to both the Management Agreement and this Agreement. 
  
 8. Additional Lessor Obligations. 
  
 A. Lessor agrees to fully and timely comply with all notice requirements set forth in Section 18.01 of the Management Agreement on each occasion that
Lessor receives a bona fide written offer for a Sale of an Inn that it desires to accept. Lessor further acknowledges and agrees that any failure by Lessor to timely provide notice to Manager as set forth in Section 18.01 of the Management Agreement
with respect to a bona fide written offer for a Sale of an Inn shall extinguish any right of Lessor to enter such Sale. 
  
 B. Lessor agrees, where applicable, upon request by Manager, not to unreasonably withhold, condition or delay the prompt signing, without charge, of
applications for licenses, permits or other instruments necessary for operation of each Inn, which applications shall be prepared by Manager as necessary from time to time. 
  

 7 

 9. Certain Provisions Regarding Bankruptcy. In the event the Lease shall be rejected on
behalf of Lessor under Section 365 of the United States Bankruptcy Code (“Code”) or any other applicable law or authority (“Rejection”), Lessee shall promptly notify Manager in writing of such Rejection and Lessee shall, as
directed by Manager, either treat the Lease as terminated by such Rejection or retain its rights under the Lease as permitted by the Code or other applicable law or authority. In the event the Management Agreement is terminated as a result of
Rejection on behalf of Lessee, the Management Agreement will remain effective with respect to Lessor, and Lessor shall, if directed by Manager (but only to the extent such right may be exercised under the Code or other applicable law and authority),
terminate the Lease, subject to the provisions of Section 4 hereof. Lessor and Lessee each agree that it will not join in any involuntary petition against the other under the Code or any other similar federal or state law providing for debtor
relief, without the consent of Manager. 
  
 10.
Term. The term of the Owner Agreement shall run concurrently with the term of the Management Agreement. 
  
 11. Required Assignment. In connection with any Sale of the Inns which includes a transfer of Lessor’s and/or Lessee’s title in
the Site and/or the Inns, Lessor and Lessee agree that the successors to their respective titles in the Site and/or the Inns shall also assume their respective rights and obligations under the Owner Agreement and shall cause such successor(s) to
assume such rights and obligations pursuant to an assumption of the Owner Agreement reasonably acceptable to Manager. 
  
 12. Notices. All notices and other communications provided for hereunder shall be in writing, and shall be sent or delivered by the methods
and to the addresses for Lessor, Lessee and Manager as required under the Management Agreement. 
  
 13. Miscellaneous. 
  
 A. Modification of this Agreement. No amendment, modification, alteration or waiver of any provision of this Agreement shall be effective
unless it is in writing and signed by 

  

 8 

 
the party against whom enforcement of such amendment is sought, and no waiver of any provision of this Agreement by any party hereto, and no consent to any
departure therefrom by any party hereto, shall be effective unless it is in writing and signed by the party against whom enforcement of such waiver or consent is sought, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given. 
  
 B.
No Waiver. No failure by any party hereto to exercise, and no delay in exercising, any right under the Management Agreement or the Owner Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right
preclude any other or further exercise thereof or the exercise of any other right. 
  
 C. Remedies Cumulative. The rights and remedies of any party hereto provided in the Management Agreement and the Owner Agreement are cumulative and are in addition to, and not exclusive of, any rights or
remedies provided by law or equity. 
  
 D. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland. 
  
 E. Severability. The invalidity, illegality or unenforceability of any one or more phrases, sentences, clauses or sections contained in this
Agreement shall not affect the validity, legality or enforceability of the remaining portions of this Agreement. 
  
 F. Entire Agreement. The Owner Agreement, together with the Management Agreement (including any letter agreements between or among the
parties), and the Lease, constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the parties hereto with respect to the subject matter hereof and may be executed simultaneously in
several counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument; provided, however, that this Agreement amends the Owner Agreement and the terms and provisions hereof shall
supersede and govern over any inconsistent terms or provisions contained in the Owner Agreement. All references to “Lessor” in the Owner Agreement shall mean and refer to the Pool 1 Lessor, the 

  

 9 

 
Pool 2 Lessor and the Residual Lessor, as defined herein. All terms and provisions of the Owner Agreement not expressly modified herein are hereby confirmed
and ratified and remain in full force and effect, and, as amended hereby, constitute valid and binding obligations of all parties to this Agreement. 
  
 G. Successors and Assigns. The parties hereto shall not assign or transfer or permit the assignment or transfer of the Owner Agreement
without the prior written consent of the other parties hereto, except that Lessee and Manager shall each have the right and obligation to assign its respective interest in the Owner Agreement to any party to which its respective interest in the
Management Agreement may be assigned under the terms of the Management Agreement, and Lessor shall have the right and obligation to assign its interest in the Owner Agreement to any party to which its interest in the Site and Inn may be assigned,
subject to the requirements of the Management Agreement. 
  
 H.
Captions. The captions and headings of the sections and subsections of this Agreement are for purposes of convenience and reference only and shall not limit or otherwise affect the meaning hereof. 
  
 I. Time of the Essence. Time shall be of the essence in the
performance of the Owner Agreement. 
  
 J. Incorporation of
Recitals. The recitals hereto are incorporated herein as part of this Agreement. 
  
 K. Counterparts – This Agreement may be executed in counterparts, each of which, taken together with the others, shall constitute the original. 
  
 [SIGNATURES FOLLOW ON NEXT PAGE] 
  

 10 

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

			
	POOL 1 LESSOR:
	
	 MARRIOTT RESIDENCE INN
LIMITED PARTNERSHIP,

	
	 a Delaware limited partnership
  
 AHT RES II GP, INC., as general
partner

		
	By:	 	 /s/ David McKenney

		
	 Name:
	 	 David McKenney

		
	 Title:
	 	 Vice President

  

			
	LESSEE:
	
	AHM RES II LIMITED PARTNERSHIP
	
	 a Virginia limited partnership

	
	 AHM RES II GP, INC., as general partner

		
	By:	 	 /s/ David McKenney

		
	 Name:
	 	 David McKenney

		
	 Title:
	 	 Vice President

  
 [SIGNATURES
CONTINUE ON NEXT PAGE] 
  

 11 

			
	MANAGER:
	
	 RESIDENCE INN BY MARRIOTT, INC.,
  
 a Delaware corporation,

		
	By:	 	 /s/ M. Lester Pulse, Jr.

		
	 Name:
	 	 M. Lester Pulse, Jr.

		
	 Title:
	 	 Vice President

  

			
	POOL 2 LESSOR:
	
	AHT RESIDENCE INN II LIMITED PARTNERSHIP
	
	 a Virginia limited partnership

	
	 AHT RESIDENCE INN II, GP, INC., as general partner

		
	By:	 	 /s/ David McKenney

		
	 Name:
	 	 David McKenney

		
	 Title:
	 	 Vice President

  

			
	RESIDUAL LESSOR:
	
	AHT CAROLINA LIMITED PARTNERSHIP
	
	 a Virginia limited partnership

	
	 AHT CAROLINA GP, INC., as general partner

		
	By:	 	 /s/ David McKenney

		
	 Name:
	 	 David McKenney

		
	 Title:
	 	 Vice President

  

 12 

  
 Exhibit A

  
 Residence Inn By Marriott, Inc. 
  
 Inns in Pool 1 
  
 1) Arcadia, California 
  
 Huntington Drive and Second Street just off I-210 
  
 Arcadia, California 
  
 2) Irvine, California 
  
 Alton Pkwy and Morgan near I-5 and I-405 
  
 Irvine, California 
  
 3) Boca Raton, Florida 
  
 525 NW 77th Street

  
 Boca Raton, Florida 33487 
  
 4) Jacksonville, Florida 
  
 Interstate 95 and Baymeadows Exit 
  
 8365 Dix Ellis Trail 
  
 Jacksonville, Florida 32256 
  
 5) St. Petersburg/ Clearwater, Florida 
  
 5050 Ulmerton Road 
  
 Clearwater, Florida 34620 
  
 6) Pensacola, Florida 
  
 7230 Plantation Road 
  
 Pensacola, Florida 32504 
  

 7) Chicago / Deerfield, Illinois 
  
 Corporate 500 Drive 
  
 Deerfield, Illinois 60015 
  
 8) Greensboro, North Carolina 
  
 2000 Veasley Street 
  
 Greensboro, North Carolina 27407 
  
 9) Philadelphia/Berwyn, Pennsylvania 
  
 600 West Swedesford Road 
  
 Berwyn, Pennsylvania 19312 
  
 10) Columbia, South Carolina 
  
 150 Stoneridge Drive 
  
 Columbia, South Carolina 29221 
  
 11) Lubbock, Texas 
  
 2551 South Loop 289 
  
 Lubbock, Texas 79423 
  
 Inns in Pool 2 
  
 1) Birmingham, Alabama 
  
 #3 Greenhill Parkway at U.S. Hwy. 280 
  
 Birmingham, Alabama 35243 
  

 2) Placentia, California 
  
 700 West Kimberly 
  
 Placentia, California 92670 
  
 3) Shreveport/Bossier City, Louisiana 
  
 1001 Gould Drive 
  
 Bossier City, Louisiana 71111 
  
 4) Boston/Danvers, Massachusetts 
  
 U.S. Route 1 
  
 Danvers, Massachusetts 
  
 5) Kalamazoo, Michigan 
  
 I-94 and Portage Road 
  
 Kalamazoo, Michigan 
  
 6) Jackson, Mississippi 
  
 881 East River Place 
  
 Jackson, Mississippi 39202 
  
 7) Santa Fe, New Mexico 
  
 1698 Galisteo Street 
  
 Santa Fe, New Mexico 87501 
  
 8) Las Vegas, Nevada 
  
 Paradise Road and Convention Center Drive 
  
 Las Vegas, Nevada 
  
 9) Akron, Ohio 
  
 120 Montrose West Avenue 
  
 I-77 at Route 18 
  
 Akron, Ohio 44321 
  

 10) Memphis East, Tennessee 
  
 6141 Poplar Pike 
  
 Memphis, Tennessee 38119 
  
 Residual Inns 
  
 1) Charlotte North, North Carolina 
  
 8503 U.S. Highway 29 
  
 Charlotte, North Carolina 28213 
  
 2) Spartanburg, South Carolina 
  
 9011 Fairforest Road 
  
 Spartanburg, South Carolina 29305 
  

  
 Exhibit B

  
 Leases 
  
 Pool 1: 
  
 1) Las Vegas, Nevada – That certain lease dated November         , 2004 between AHT
Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership (“Lessee”). 
  
 2) Santa Fe, New Mexico – That certain lease dated November         , 2004 between AHT
Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership (“Lessee”). 
  
 3) Placienta, California – That certain lease dated November         , 2004 between AHT
Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership (“Lessee”). 
  
 4) Boston/Danvers, Massachusetts – That certain lease dated November         , 2004
between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership (“Lessee”). 
  
 5) Akron, Ohio – That certain lease dated November
        , 2004 between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  
 6) Birmingham, Alabama – That certain lease dated
November         , 2004 between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  
 7) Jackson, Mississipps – That certain lease dated
November         , 2004 between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  
 8) Kalamazoo, Michigan – That certain lease dated
November         , 2004 between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  
 9) Shreveport/Bossier City, Louisiana – That
certain lease dated November         , 2004 between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited
partnership (“Lessee”). 
  
 10) Memphis, Tennessee – That certain
lease dated November         , 2004 between AHT Residence Inn II Limited Partnership, a Virginia limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited
partnership (“Lessee”). 
  
 Pool 2: 
  
 1) Arcadia, California – That certain lease dated November
        , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  
 2) Irvine, California – That certain lease dated
November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  

 3) Chicago/Deerfield, Illinois – That certain lease dated November
        , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited partnership
(“Lessee”). 
  
 4) Berwyn/Valley Forge, Pennsylvania – That certain
lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia limited
partnership (“Lessee”). 
  
 5) Columbia, South Carolina – That
certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a Virginia
limited partnership (“Lessee”). 
  
 6) Greensboro, North Carolina –
That certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a
Virginia limited partnership (“Lessee”). 
  
 7) Jacksonville, Florida
– That certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited Partnership, a
Virginia limited partnership (“Lessee”). 
  
 8) Clearwater/St. Pete,
Florida – That certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited
Partnership, a Virginia limited partnership (“Lessee”). 
  
 9) Boca
Raton, Florida – That certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited
Partnership, a Virginia limited partnership (“Lessee”). 
  
 10)
Pensacola, Florida – That certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II
Limited Partnership, a Virginia limited partnership (“Lessee”). 
  
 11)
Lubbock, Texas – That certain lease dated November         , 2004 between Marriott Residence Inn II Limited Partnership, a Delaware limited partnership (“Lessor”), and AHM Res II Limited
Partnership, a Virginia limited partnership (“Lessee”). 
  
 Residual:

  
 1) Charlotte, North Carolina – That certain lease dated November
        , 2004 between Apple Hospitality Two, Inc., a Virginia corporation (“Lessor”), and
                    , a
                     (“Lessee”). 
  
 2) Spartanburg, South Carolina – That certain lease dated November         , 2004 between Apple Hospitality Two, Inc.,
a Virginia corporation (“Lessor”), and                     , a
                     (“Lessee”).

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