SEC Contract Filing

Filing Date: 2017-03-31

Document Content:
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<TYPE>EX-10.14
<SEQUENCE>21
<FILENAME>v462888_ex10-14.htm
<DESCRIPTION>EXHIBIT 10.14
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.14</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ASSIGNMENT AND AMENDMENT OF MANAGEMENT
AGREEMENTS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This
Assignment and Amendment of Management Agreements (&ldquo;<B>Assignment</B>&rdquo;) is made, effective as of March 31, 2017
(the &ldquo;<B>Effective Date</B>&rdquo;), by and between (1) <FONT STYLE="text-transform: uppercase"><B>American Realty
Capital Hospitality Grace Portfolio, LLC</B></FONT>, a Delaware limited liability company, whose principal place of business
is 405 Park Avenue, New York, NY 10022 (&ldquo;<B>Assignor</B>&rdquo;); (2) <FONT STYLE="text-transform: uppercase"><B>ARC
Hospitality Portfolio I MISC TRS, LLC</B></FONT>, a Delaware limited liability company, whose principal place of business
is 3950 University Drive, Suite 301 Fairfax, Virginia 22030 (&ldquo;<B>Assignee</B>&rdquo;); and (3) <FONT STYLE="text-transform: uppercase"><B>INNVENTURES
IVI, LP</B>,</FONT> a Delaware limited partnership, whose principal place of business is Legacy Southcenter Place,
16400 Southcenter Parkway, Suite 100, Tukwila, WA 98188 (&ldquo;<B>Manager</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>RECITATIONS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Assignee
is the operating lessee of the Residence Inn Portland Downtown Lloyd Center and the Residence Inn Boise Downtown (collectively,
the &ldquo;<B>Hotels</B>&rdquo;), pursuant to leases (collectively, &ldquo;<B>Leases</B>&rdquo;) between Assignee and ARC Hospitality
Portfolio I Owner, LLC (collectively, &ldquo;<B>Property Owner</B>&rdquo;), which is the owner of the Hotels;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
Assignor and Assignee have entered into Management Agreements with respect each of the Hotels, dated as of February 27, 2015
(collectively, &ldquo;<B>Owner Management Agreements</B>&rdquo;), pursuant to which the Assignee has, among other things,
appointed Assignor as Assignee&rsquo;s exclusive agent to supervise, direct, and control management and operation of the
Hotels pursuant to the terms thereof;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
Assignor and Manager are parties to those certain Management Agreements (collectively, &ldquo;<B>Management
Agreements</B>&rdquo;), dated February 27, 2015 with respect to the management of the Hotels;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Assignor
and Assignee are, contemporaneously with execution of this Assignment, terminating the Owner Management Agreements, and in connection
therewith, Assignor desires to assign its rights and obligations under the Management Agreements, Assignee desires to accept the
assignment of Assignor&rsquo;s rights and obligations under the Management Agreements, as amended by this Assignment, and Manager
desires to acknowledge and consent to such assignment; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>,
in consideration of the foregoing recitals and the premises and the mutual covenants herein contained and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto
agree as follows:</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Effective as of the Effective Date, Assignor hereby assigns, transfers and conveys to Assignee
all of Assignor&rsquo;s rights, title and obligations in, to and under the Management Agreements, and such Assignee hereby accepts
and assumes all such rights under such Management Agreements and assumes all obligations and liabilities of Assignor under such
Management Agreements. Manager hereby consents to such assignment and assumption.</TD></TR></TABLE>

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