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EXHIBIT 10.30.13
AMENDMENT NUMBER THIRTEEN
TO
THIRD PARTY PLEDGE AGREEMENT
THIS AMENDMENT NUMBER THIRTEEN TO THIRD PARTY PLEDGE AGREEMENT (the
"Amendment") is made and entered into as of the 11th day of June, 1997, 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 Ramada Plaza Hotel - Old Town in San Diego,
California (the "Hotel") and the execution of the Lease Agreement for such
Hotel.
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 Agreement for the Hotel,
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.
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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
-----------------------
Robert A. Alter
Its: President
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EXHIBIT A
Percentage Leases & Pledge of Units
NUMBER OF THIRD
PERCENTAGE FOUR MONTHS ALLOCABLE 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
Cypress Inn - $121,000 11,000 February 2, 1999 CLB/RAA
Portland, OR
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NUMBER OF THIRD
PERCENTAGE FOUR MONTHS ALLOCABLE UNITS ANNIVERSARY INITIALS
LEASE BASE RENT PLEDGED DATE OF PLEDGOR
- --------------- ----------- --------------- ---------------- ----------
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
Holiday Inn - $100,000 9,090 October 29, 1999 CLB/RAA
Flagstaff, AZ
Holiday Inn - $268,666 24,424 October 29, 1999 CLB/RAA
Mesa, AZ
Hampton Inn - $115,400 10,455 October 29, 1999 CLB/RAA
Tucson, AZ
Radisson Suite - $363,400 29,665 December 19, 1999 CLB/RAA
Oxnard, CA
Ramada Hotel - $335,530 25,810 January 17, 2000 CLB/RAA
Cypress, CA
Holiday Inn Harbor View - $289,033 22,233 January 17, 2000 CLB/RAA
San Diego, CA
Hawthorn Suites - $367,533 26,479 March 10, 2000 CLB/RAA
Kent, WA
Holiday Inn - $501,992 38,232 March 31, 2000 CLB/RAA
La Mirada, CA
Fountain Suites - $528,900 39,529 May 6, 2000 CLB/RAA
Sacramento, CA
Ramada Plaza - Old Town $387,000 29,208 June 11, 2000 CLB/RAA
San Diego, CA
COMBINED TOTALS: $6,268,121 556,806* CLB/RAA
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* Maximum number of units pledged is 481,955 pursuant to Section 1(a) of the
Agreement.
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