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Exhibit 10.30.6
AMENDMENT NUMBER SIX
TO
THIRD PARTY PLEDGE AGREEMENT
THIS AMENDMENT NUMBER SIX TO THIRD PARTY PLEDGE AGREEMENT (the "Amendment")
is made and entered into as of the 10th day of August 1996, by and between
SUNSTONE HOTEL INVESTORS, L.P., a Delaware limited partnership ("Secured
Party"); and ROBERT A. ALTER ("Alter") and CHARLES L. BIEDERMAN ("Biederman; and
together with Alter, "Pledgor").
WHEREAS, the undersigned are parties to that certain Third Party Pledge
Agreement entered into as of August 16, 1995, as amended (the "Agreement"); and
WHEREAS, the undersigned desire to amend the Agreement in order to reflect
the purchase of the Comfort Suites Hotel in South San Francisco, California and
the Days Inn Hotel in Price, Utah (the "Hotels") and the execution of the Lease
Agreements for such Hotels.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
covenants contained herein and in the Agreement, and for other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties
hereto hereby agree as follows:
1. DEFINED TERMS. For purposes of this Amendment, all capitalized terms
used and not otherwise defined herein, shall have the meanings assigned to them
in the Agreement.
2. UNITS PLEDGED. In order to secure the lien of the pledge in favor of
Secured Party in the Units pledged to secure the Lease Agreements for the
Hotels, Exhibit A to the Agreement is hereby amended and restated in its
entirety to read in full as attached hereto as Exhibit A.
3. FORCE AND EFFECT. Except to the extent modified by this Amendment, all
of the terms and provisions of the Agreement shall be unaffected and shall
remain in full force and effect. This Amendment shall be deemed part of, and
construed in accordance with the Agreement.
4. COUNTERPARTS. This Amendment may be executed in counterparts, each of
which shall be deemed to be an original and all of which shall be deemed to
constitute the same instrument.
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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
date first written above.
PLEDGOR
/s/ Robert A. Alter
------------------------------------------
Robert A. Alter
/s/ Charles L. Biederman
-----------------------------------------
Charles L. Biederman
SECURED PARTY
SUNSTONE HOTEL INVESTORS, L.P.
a Delaware limited partnership
By: Sunstone Hotel Investors, Inc.
a Maryland corporation,
Its General Partner
By: /s/ Robert A. Alter
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Robert A. Alter
Its: President
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EXHIBIT A
Percentage Leases & Pledge of Units
NUMBER OF THIRD
PERCENTAGE FOUR MONTHS UNITS ANNIVERSARY INITIALS
LEASE BASE RENT PLEDGED DATE OF PLEDGOR
- ----- ----------- --------- --------------- ----------
Hampton Inn - $ 188,750 19,868 August 16, 1998 CLB/RAA
Denver S.E., CO
Hampton Inn - 150,000 15,790 August 16, 1998 CLB/RAA
Pueblo, CO
Courtyard by Marriott - 135,000 14,211 August 16, 1998 CLB/RAA
Fresno, CA
Hampton Inn - 158,667 16,702 August 16, 1998 CLB/RAA
Mesa, AZ
Holiday Inn - 125,000 13,158 August 16, 1998 CLB/RAA
Steamboat Springs, CO
Holiday Inn - 142,000 14,947 August 16, 1998 CLB/RAA
Craig, CO
Holiday Inn - 53,333 5,614 August 16, 1998 CLB/RAA
Provo, UT
Hampton Inn - 161,000 16,947 August 16, 1998 CLB/RAA
Silverthorne, CO
Best Western - 220,000 23,158 August 16, 1998 CLB/RAA
Santa Fe, NM
Hampton Inn - 132,000 13,895 August 16, 1998 CLB/RAA
Arcadia, CA
Hampton Inn - 139,333 13,933 December 13, 1998 CLB/RAA
Oakland, CA
Cypress Inn - 189,000 17,182 February 2, 1999 CLB/RAA
Kent, WA
Cypress Inn - 107,917 9,811 February 2, 1999 CLB/RAA
Poulsbo, WA
Cypress Inn - 145,667 13,242 February 2, 1999 CLB/RAA
Clackamas, WA
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NUMBER OF THIRD
PERCENTAGE FOUR MONTHS UNITS ANNIVERSARY INITIALS
LEASE BASE RENT PLEDGED DATE OF PLEDGOR
- ----- ----------- --------- --------------- ----------
Cypress Inn - 121,000 11,000 February 2, 1999 CLB/RAA
Portland, OR
Courtyard By Marriott - 142,000 14,025 April 1, 1999 CLB/RAA
Riverside, CA
Holiday Inn Select - 270,000 24,828 June 28, 1999 CLB/RAA
Renton, WA
Comfort Suites - 240,000 24,615 August 13, 1999 CLB/RAA
So. San Francisco, CA
Days Inn - 90,000 9,231 August 13, 1999 CLB/RAA
Price, UT
Residence Inn - 100,000 9,524 September 20, 1999 CLB/RAA
Highlands Ranch, CO
COMBINED TOTALS: $3,010,667 301,681
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