Document:

Exhibit

Exhibit 10.71

FIRST AMENDMENT TO LOAN AGREEMENT
This FIRST AMENDMENT TO LOAN AGREEMENT (this “Amendment”) is made as of June 18, 2014 (the “Effective Date”) by and among GERMAN AMERICAN CAPITAL CORPORATION, a Maryland corporation (together with its successors and assigns, “Lender”), W2007 EQUITY INNS REALTY, LLC, a Delaware limited liability company (together with its permitted successors and assigns, “LLC Borrower”) and W2007 EQUITY INNS REALTY, L.P., a Delaware limited partnership (together with its permitted successors and assigns, “LP Borrower”). LLC Borrower and LP Borrower may be referred to herein, individually or collectively, as the context may require as determined by Lender, as “Borrower”.
RECITALS:
WHEREAS, Borrower and Lender are parties to that certain Loan Agreement, dated as of April 11, 2014 (the “Loan Agreement”), pursuant to which Lender agreed, subject to the terms and conditions set forth in the Loan Agreement, to make a loan to Borrower in the original principal amount of $865,000,000.00 (“Loan”), as provided in the Loan Agreement. Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Loan Agreement.
WHEREAS, the parties to the Loan Agreement desire to amend the Loan Agreement as set forth hereinbelow in order to (i) revise the Component amounts and the Component Spreads and (ii) correct certain typographical errors contained therein.
NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises of the parties hereto, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties mutually agree as follows:
AGREEMENT
1.    Amendments to Loan Agreement.  The following amendments shall be made to the Loan Agreement, effective as of the Effective Date:
(a)    The following definition set forth in Section 1.1 of the Loan Agreement shall be amended and restated as follows:
““Component Spread” shall mean, (a) with respect to Component A, 0.9327000% per annum; (b) with respect to Component B, 1.2827000% per annum; (c) with respect to Component C, 1.6827000% per annum; (d) with respect to Component D, 4.2267800% per annum; (e) with respect to Component E, 5.3267800% per annum and (f) with respect to Component F, 5.7767800% per annum.”

(b)    Section 2.1.2 of the Loan Agreement shall be amended and restated as follows:
“2.1.2. Components of the Loan. For purposes of the computation of the interest accrued on the Loan from time to time and certain other computations set forth herein, the Loan shall be divided into multiple components designated as “Component A”, “Component B”, “Component C”, “Component D”, “Component E” and “Component F”. The following table sets forth the initial principal amount of each such Component.

	
		
	Component
	Initial Principal Amount

	 
	 

	Component A
	$271,878,000.00

	Component B
	$101,421,000.00

	Component C
	$66,000,000.00

	Component D
	$120,769,000.00

	Component E
	$167,658,000.00

	Component F
	$137,274,000.00”

(c)    Schedule I-M1 of the Loan Agreement shall be amended by changing the Original Mezzanine Allocated Loan Amount for the Individual Property commonly known as Hampton Inn West Palm Beach Florida Turnpike from 1,523,631 to 1,523,621.
(d)    The first sentence of paragraph (o) of Schedule V of the Loan Agreement shall be amended by replacing the first word of such sentence (“With”) with the following:
“Each Borrower has been and shall be a Delaware limited liability company or a Delaware limited partnership, and with”
2.    Effect Upon Loan Documents.
(a)    The Loan Agreement and the other Loan Documents shall remain in full force and effect and, except as specifically set forth herein, shall remain unmodified. The provisions of this Amendment shall be subject to the provisions of Section 10.1 of the Loan Agreement, which provisions are incorporated by reference as if herein set forth in full. All references to “Loan Agreement” in the Loan Documents shall mean and refer to the Loan Agreement as modified and amended hereby.
(b)    The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Lender under the Loan Documents, or any other document, instrument or agreement executed and/or delivered in connection therewith.
3.    Governing Law. IN ALL RESPECTS, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS AMENDMENT AND THE OBLIGATIONS ARISING HEREUNDER 

SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND

PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AMENDMENT AND THE NOTE, AND THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.
4.    Parties Bound/Execution. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors, permitted assigns, heirs and legal representatives. Each party represents that any individual executing this Amendment on behalf of such party has the authority to so act on behalf of such party.
5.    Invalid Provision. If any provision of this Amendment is held to be illegal, invalid, or unenforceable under present or future laws effective during the term of the Amendment, such provision shall be fully severable and this Amendment shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Amendment and the remaining provisions of this Amendment shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Amendment, unless such continued effectiveness of this Amendment, as modified, would be contrary to the basic understandings and intentions of the parties as expressed herein.
6.    Counterparts. This Amendment may be executed in any number of counterparts, and all such counterparts shall together constitute the same agreement.
[SIGNATURES FOLLOW ON NEXT PAGE]

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date and year first set forth above.
LENDER:
GERMAN AMERICAN CAPITAL CORPORATION, 
a Maryland corporation
By:  /s/ David Goodman    
Name:  David Goodman    
Title:  Director    
By:  /s/ William Moyer    
Name:  William Moyer    
Title:  Director    
[SIGNATURES CONTINUE ON NEXT PAGE]

BORROWER:
W2007 EQUITY INNS REALTY, LLC.
a Delaware limited liability company
		
	By:
	WNT Mezz I. LLC. 
a Delaware limited liability company, 
its Managing Member

By:  /s/ Todd Giannoble
Name:  Todd Giannoble
Title: President & Manager
W2007 EQUITY INNS REALTY, L.P.,
a Delaware limited partnership
		
	By:
	W2007 Equity Inns Realty Gen-Par. LLC, 
a Delaware limited liability company, 
its General Partner

By:  /s/ Todd Giannoble
Name:  Todd Giannoble
Title: President & ManagerExhibit

Exhibit 10.72

SIXTH AMENDMENT TO AGREEMENT FOR SALE AND PURCHASE 

This Sixth Amendment to the Agreement for Sale and Purchase (this “Amendment”) by and between WS CINCINNATI, LLC, a Delaware limited liability company, WS COLLEGE STATION JV, LLC, a Delaware limited liability company, WS-CNO JV, LLC, a Delaware limited liability company, WS-FNO, LLC, a Delaware limited liability company, and WS SPHERICAL STONE, LLC, a Delaware limited liability company (collectively, “Seller”), and AMERICAN REALTY CAPITAL HOSPITALITY PORTFOLIO WSC, LLC, a Delaware limited liability company (“Purchaser”) is made as of December 2, 2015 (the “Amendment Effective Date”).  Seller and Purchaser are sometimes referred to collectively in this Amendment as the “Parties.”

RECITALS

A.    Seller and Purchaser entered into that certain Agreement for Sale and Purchase dated as of June 2, 2015, as amended pursuant to that certain First Amendment to Agreement for Sale and Purchase dated as of July 13, 2015, that certain Second Amendment to Agreement for Sale and Purchase dated as of July 13, 2015, that certain Third Amendment to Agreement for Sale and Purchase dated as of August 3, 2015, that certain Fourth Amendment to Agreement for Sale and Purchase dated as of October 8, 2015, and that certain Fifth Amendment to Agreement for Sale and Purchase dated as of October 27, 2015 (the “Purchase Agreement”).

B.    Seller and Purchaser desire to change the definition of Closing Date and have agreed to further amend the Purchase Agreement to reflect such modification on the terms and conditions set forth in this Amendment.

C.    All capitalized terms used without definition in this Amendment shall have the meanings assigned to such terms in the Purchase Agreement. 

AGREEMENT

Now, therefore, for and in consideration of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser hereby agree that the Purchase Agreement shall be amended and modified in accordance with Section 14.01(t) thereof as follows:

1.Closing Date.  The definition of Closing Date in Section 1.01 of the Purchase Agreement is hereby amended by deleting the words “December 3, 2015” and replacing them with the words “December 8, 2015”. 
2.    Delayed Closing Earnest Money.  For and in consideration of this Amendment and the extension of the Closing Date, Purchaser shall, no later than 5:00 p.m. Eastern Time on December 

    

2, 2015, deposit with the Escrow Company, as escrow agent, the additional non-refundable amount of FIVE HUNDRED THOUSAND DOLLARS ($500,000) (the “Delayed Closing Earnest Money”).  The Delayed Closing Earnest Money shall form part of the Earnest Money for all purposes of the Purchase Agreement.  The Escrow Company shall disburse the Delayed Closing Earnest Money to Seller as directed by Seller in writing and without further instruction, approval or consent of Purchaser, no later than 3:00 p.m. Eastern Time on December 3, 2015.  The Delayed Closing Earnest Money shall be allocated among only the WS Cincinnati Hotel, the WS College Station Hotel, and the WS Spherical Hotel, in accordance with the allocation schedule attached hereto as Schedule 1. 
3.    Purchaser Closing Election.  On or before 12:00 p.m. Eastern Time on December 7, 2015, Purchaser may, upon written notice to Seller, elect not to consummate the Closing of the WS-CNO JV Hotel and the WS-FNO Hotel (collectively, the "Nashville Hotels"), and only consummate the Closing of the WS College Station Hotel, the WS Spherical Hotel, and the WS Cincinnati Hotel (collectively, the “Non-Nashville Hotels”), in which case (i) the total Purchase Price of the Non-Nashville Hotels shall be increased at Closing by FIVE HUNDRED THOUSAND DOLLARS ($500,000), which Purchase Price shall be allocated among the Non-Nashville Hotels in accordance with the allocation schedule attached hereto as Schedule 2; (ii) Purchaser and Seller shall proceed with the Closing of the Non-Nashville Hotels as otherwise set forth in the Purchase Agreement; and (iii) Seller shall be entitled to keep and retain the Allocated Earnest Money for the Nashville Hotels as liquidated damages and not as a penalty, as a result of Purchaser's failure to consummate the Closing of the Nashville Hotels, it being acknowledged and agreed by Purchaser that Seller's damages resulting from Purchaser's failure to consummate the Closing of the Nashville Hotels are difficult to determine and the amount of the Allocated Earnest Money for the Nashville Hotels is a fair and reasonable estimate of those damages.   
4.    Ratification.  Seller and Purchaser ratify and confirm the continued force and effect of the Purchase Agreement, as modified by this Amendment.  Seller and Purchaser agree that all terms and provisions of the Purchase Agreement shall be and remain in full force and effect as therein written, except as otherwise expressly provided herein.  
5.    Binding Effect.  This Amendment shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns.
6.    Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which taken together shall constitute one and the same Amendment.
7.    Effective Date.  This Amendment shall be in full force and effect as a binding obligation of the Parties from and after the Amendment Effective Date. 
[signature page follows]

2

IN WITNESS WHEREOF, the Parties have executed this Amendment as of the day and year first above written. 

	
	
	WS CINCINNATI, LLC,
a Delaware limited liability company

By:    /s/ Jonathan H. Paul   
Name:   Jonathan H. Paul
Title:   Authorized Signatory

WS COLLEGE STATION JV, LLC,
a Delaware limited liability company

By: WS College Station, LLC, its Manager

By:    /s/ Jonathan H. Paul   
Name:   Jonathan H. Paul
Title:   Authorized Signatory

WS-CNO JV, LLC, 
a Delaware limited liability company

By: WS-CNO, LLC, its Manager

By:    /s/ Jonathan H. Paul   
Name:   Jonathan H. Paul
Title:   Authorized Signatory

WS-FNO, LLC,
a Delaware limited liability company

By:    /s/ Jonathan H. Paul   
Name:   Jonathan H. Paul
Title:   Authorized Signatory

WS SPHERICAL STONE, LLC,
a Delaware limited liability company

By:    /s/ Jonathan H. Paul   
Name:   Jonathan H. Paul
Title:   Authorized Signatory

PURCHASER:
AMERICAN REALTY CAPITAL 
HOSPITALITY PORTFOLIO WSC, LLC,
a Delaware limited liability company

Signature Page to the Sixth Amendment of the Agreement for Sale and Purchase

By:     /s/ Paul C. Hughes    
Name:    Paul C. Hughes
Title:    Authorized Signatory

Signature Page to the Sixth Amendment of the Agreement for Sale and Purchase

Acknowledged and agreed:
GUARANTOR:
WHEELOCK STREET REAL ESTATE FUND, L.P.
By:   WHEELOCK STREET REAL ESTATE FUND G.P., L.L.C., its General Partner
    
By: /s/ Jonathan H. Paul    
Name: Jonathan H. Paul
Title: Authorized Signatory

Signature Page to the Sixth Amendment of the Agreement for Sale and Purchase

The undersigned Escrow Company hereby agrees to (i) accept the foregoing Amendment, (ii) be Escrow Company under said Amendment, and (iii) be bound by said Amendment in the performance of its duties under said Amendment and Purchase Agreement.

ESCROW COMPANY:
CHICAGO TITLE INSURANCE COMPANY

By:  /s/ Edwin G. Ditlow ___
Name: Edwin G. Ditlow
Its:     Vice President

Schedule 2 to Sixth Amendment of the Agreement for Sale and Purchase

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