Exhibit 10.40
Schedule
Setting Forth Information on
Twenty Two Additional and Substantially Identical Hotel Lease Agreements
(Except as set forth below in charts labeled Parts A, B and C,
documents are substantially identical to the document
included as Exhibit 10.39 of this filing, except for immaterial variations)
| A. | Franchises, Parties and Managers |
| | | | |
Hotel
| | Lessor (Preamble)
| | Lessee (Preamble)
|
Greensboro, North Carolina | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Lubbock, Texas | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Akron, Ohio | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Kalamazoo, Michigan | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Clearwater/St. Petersburg, Florida | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Boston/Danvers, Massachusetts | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Irvine, California | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Arcadia, California | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Chicago/Deerfield, Illinois | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Memphis, Tennessee | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
Birmingham, Alabama | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | | | |
| Placentia, California | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Pensacola, Florida | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Santa Fe, New Mexico | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Boca Raton, Florida | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Columbia, South Carolina | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Berwyn/Valley Forge, Pennsylvania | | Marriott Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Las Vegas, Nevada | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Shreveport/Bossier City, Louisiana | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Jackson, Mississippi | | AHT Residence Inn II Limited Partnership | | AHM Res II Limited Partnership |
| | |
| Charlotte, North Carolina | | AHT Carolina Limited Partnership | | AHM Carolina Limited Partnership |
| | |
| Spartanburg, South Carolina | | AHT Carolina Limited Partnership | | AHM Carolina Limited Partnership |
| B. | Annual Base Rents and Lease Commencement Dates |
| | | |
Hotel
| | Annual Base Rent (Schedule 3.1(a) to
Lease)
|
Greensboro, North Carolina | | $ | 745,874 |
Lubbock, Texas | | $ | 617,744 |
Akron, Ohio | | $ | 717,253 |
Kalamazoo, Michigan | | $ | 795,826 |
Clearwater/St. Petersburg, Florida | | $ | 819,035 |
Boston/Danvers, Massachusetts | | $ | 1,079,342 |
Irvine, California | | $ | 1,210,783 |
Arcadia, California | | $ | 1,493,579 |
| | | |
Chicago/Deerfield, Illinois | | $ | 1,229,827 |
Memphis, Tennessee | | $ | 447,126 |
Birmingham, Alabama | | $ | 719,083 |
Placentia, California | | $ | 913,232 |
Pensacola, Florida | | $ | 314,300 |
Santa Fe, New Mexico | | $ | 1,019,003 |
Boca Raton, Florida | | $ | 769,582 |
Columbia, South Carolina | | $ | 869,880 |
Berwyn, Valley Forge, Pennsylvania | | $ | 907,350 |
Las Vegas, Nevada | | $ | 2,279,662 |
Shreveport/Bossier City, Louisiana | | $ | 387,260 |
Jackson, Mississippi | | $ | 468,462 |
Charlotte, North Carolina | | $ | 322,576 |
Spartanburg, South Carolina | | $ | 255,346 |
(See Part C beginning on next page)
| C. | Suite Revenue Breakpoints (Exhibit 3.1(b) to Lease) |
For Residence Inn by Marriott in Greensboro, North Carolina:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 731,801 | | $ | 1,532,656 | | $ | 1,563,309 | | $ | 1,594,575 | | $ | 1,626,467 | | $ | 1,658,996 | | $ | 1,692,176 | | $ | 1,726,019 | | $ | 1,760,540 | | $ | 1,795,751 | | $ | 1,831,666 |
|
| For Residence Inn by Marriott in Lubbock, Texas: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 456,816 | | $ | 1,063,948 | | $ | 1,085,227 | | $ | 1,106,931 | | $ | 1,129,070 | | $ | 1,151,651 | | $ | 1,174,684 | | $ | 1,198,178 | | $ | 1,222,142 | | $ | 1,246,584 | | $ | 1,271,516 |
|
| For Residence Inn by Marriott in Akron, Ohio: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 607,446 | | $ | 1,279,339 | | $ | 1,304,925 | | $ | 1,331,024 | | $ | 1,357,644 | | $ | 1,384,797 | | $ | 1,412,493 | | $ | 1,440,743 | | $ | 1,469,558 | | $ | 1,498,949 | | $ | 1,528,928 |
|
| For Residence Inn by Marriott in Kalamazoo, Michigan: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 360,166 | | $ | 805,041 | | $ | 821,142 | | $ | 837,565 | | $ | 854,316 | | $ | 871,403 | | $ | 888,831 | | $ | 906,607 | | $ | 924,740 | | $ | 943,234 | | $ | 962,099 |
|
| For Residence Inn by Marriott in Clearwater/St. Petersburg, Florida: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 558,070 | | $ | 999,105 | | $ | 1,019,087 | | $ | 1,039,469 | | $ | 1,060,258 | | $ | 1,081,464 | | $ | 1,103,093 | | $ | 1,125,155 | | $ | 1,147,658 | | $ | 1,170,611 | | $ | 1,194,023 |
For Residence Inn by Marriott in Boston/Danvers, Massachusetts:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 366,287 | | $ | 970,915 | | $ | 990,333 | | $ | 1,010,140 | | $ | 1,030,342 | | $ | 1,050,949 | | $ | 1,071,968 | | $ | 1,093,408 | | $ | 1,115,276 | | $ | 1,137,581 | | $ | 1,160,333 |
|
| For Residence Inn by Marriott in Irvine, California: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 403,101 | | $ | 875,723 | | $ | 893,238 | | $ | 911,103 | | $ | 929,325 | | $ | 947,911 | | $ | 966,869 | | $ | 986,207 | | $ | 1,005,931 | | $ | 1,026,050 | | $ | 1,046,571 |
|
| For Residence Inn by Marriott in Arcadia, California: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 240,743 | | $ | 503,073 | | $ | 513,135 | | $ | 523,397 | | $ | 533,865 | | $ | 544,543 | | $ | 555,433 | | $ | 566,542 | | $ | 577,873 | | $ | 589,430 | | $ | 601,219 |
|
| For Residence Inn by Marriott in Chicago/Deerfield, Illinois: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 456,291 | | $ | 993,074 | | $ | 1,012,935 | | $ | 1,033,194 | | $ | 1,053,858 | | $ | 1,074,935 | | $ | 1,096,434 | | $ | 1,118,363 | | $ | 1,140,730 | | $ | 1,163,544 | | $ | 1,186,815 |
|
| For Residence Inn by Marriott in Memphis, Tennessee: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 803,016 | | $ | 1,778,960 | | $ | 1,814,539 | | $ | 1,850,830 | | $ | 1,887,846 | | $ | 1,925,603 | | $ | 1,964,115 | | $ | 2,003,397 | | $ | 2,043,465 | | $ | 2,084,335 | | $ | 2,126,021 |
|
| For Residence Inn by Marriott in Birmingham, Alabama: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 815,255 | | $ | 1,700,262 | | $ | 1,734,267 | | $ | 1,768,952 | | $ | 1,804,331 | | $ | 1,840,418 | | $ | 1,877,226 | | $ | 1,914,771 | | $ | 1,953,066 | | $ | 1,992,128 | | $ | 2,031,970 |
For Residence Inn by Marriott in Placentia, California:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 549,628 | | $ | 1,154,112 | | $ | 1,177,194 | | $ | 1,200,738 | | $ | 1,224,753 | | $ | 1,249,248 | | $ | 1,274,233 | | $ | 1,299,718 | | $ | 1,325,712 | | $ | 1,352,226 | | $ | 1,379,271 |
|
| For Residence Inn by Marriott in Pensacola, Florida: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 463,455 | | $ | 1,003,263 | | $ | 1,023,329 | | $ | 1,043,795 | | $ | 1,064,671 | | $ | 1,085,965 | | $ | 1,107,684 | | $ | 1,129,838 | | $ | 1,152,434 | | $ | 1,175,483 | | $ | 1,198,993 |
|
| For Residence Inn by Marriott in Santa Fe, New Mexico: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 542,880 | | $ | 1,224,142 | | $ | 1,248,625 | | $ | 1,273,598 | | $ | 1,299,070 | | $ | 1,325,051 | | $ | 1,351,552 | | $ | 1,378,583 | | $ | 1,406,155 | | $ | 1,434,278 | | $ | 1,462,963 |
|
| For Residence Inn by Marriott in Boca Raton, Florida: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 1,012,230 | | $ | 1,710,734 | | $ | 1,744,948 | | $ | 1,779,847 | | $ | 1,815,444 | | $ | 1,851,753 | | $ | 1,888,788 | | $ | 1,926,564 | | $ | 1,965,095 | | $ | 2,004,397 | | $ | 2,044,485 |
|
| For Residence Inn by Marriott in Columbia, South Carolina: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 610,166 | | $ | 1,243,469 | | $ | 1,268,338 | | $ | 1,293,705 | | $ | 1,319,579 | | $ | 1,345,970 | | $ | 1,372,890 | | $ | 1,400,348 | | $ | 1,428,355 | | $ | 1,456,922 | | $ | 1,486,060 |
|
| For Residence Inn by Marriott in Berwyn/Valley Forge, Pennsylvania: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 343,375 | | $ | 692,757 | | $ | 706,612 | | $ | 720,744 | | $ | 735,159 | | $ | 749,862 | | $ | 764,859 | | $ | 780,156 | | $ | 795,760 | | $ | 811,675 | | $ | 827,908 |
For Residence Inn by Marriott in Las Vegas, Nevada:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 953,872 | | $ | 1,545,123 | | $ | 1,576,025 | | $ | 1,607,546 | | $ | 1,639,696 | | $ | 1,672,490 | | $ | 1,705,940 | | $ | 1,740,059 | | $ | 1,774,860 | | $ | 1,810,357 | | $ | 1,846,565 |
|
| For Residence Inn by Marriott in Shreveport/Bossier City, Louisiana: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 358,232 | | $ | 1,014,646 | | $ | 1,034,939 | | $ | 1,055,638 | | $ | 1,076,750 | | $ | 1,098,285 | | $ | 1,120,251 | | $ | 1,142,656 | | $ | 1,165,509 | | $ | 1,188,819 | | $ | 1,212,596 |
|
| For Residence Inn by Marriott in Jackson, Mississippi: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 954,288 | | $ | 2,059,687 | | $ | 2,100,881 | | $ | 2,142,898 | | $ | 2,185,756 | | $ | 2,229,472 | | $ | 2,274,061 | | $ | 2,319,542 | | $ | 2,365,933 | | $ | 2,413,252 | | $ | 2,461,517 |
|
| For Residence Inn by Marriott in Charlotte, North Carolina: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 587,988 | | $ | 1,239,074 | | $ | 1,263,855 | | $ | 1,289,132 | | $ | 1,314,915 | | $ | 1,341,213 | | $ | 1,368,038 | | $ | 1,395,398 | | $ | 1,423,306 | | $ | 1,451,772 | | $ | 1,480,808 |
|
| For Residence Inn by Marriott in Spartanburg, South Carolina: |
| | | | | | | | | | | |
| | | 2002
| | 2003
| | 2004
| | 2005
| | 2006
| | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
|
Yearly Breakpoint | | $ | 702,693 | | $ | 1,494,527 | | $ | 1,524,417 | | $ | 1,554,905 | | $ | 1,586,004 | | $ | 1,617,724 | | $ | 1,650,078 | | $ | 1,683,080 | | $ | 1,716,741 | | $ | 1,751,076 | | $ | 1,786,098 |
