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TROAP ACROISHIN, LE 26 Hae ea ota DE 018 Lager. avestmer Coxapery [Riga end tvskuessCeatee 13 ‘Nar Rigu ighony, Kustegzrty Mosvinn, Reels, MSE sttntion: daneey Kez Ree Proponnd dveloomen nf feat sian Saar ated ws to be Kron ws Trams asso (or nich ether naa oa mally arse pon bw pie Paves) aml locate ln Mancow Cry dhe "Prjeoe") Dest Andrey “This tear of irra! Uhis "LOT" ses fo a semmecy of some of te basi cers of © Tivete narestnal (4p "License Agroranen!™) to He otra re by ‘Ire Actuistlon, LES under ete or iofe Of HS Anes, es Hewesuc CTLieeusoe™, 2¢ 10. Hnpent Swesunein Cenrpeny ander eae ot moe elie aflicts, ee senses “Licensee”, ilk aspect co dao Project (lieu end —ivernce, elleively, the “Partes"? and Te sscnrlerou wil: Liceesr's 2utent furs oF lisanse egoencea. Tais LOT is my ftendoe ro eine Putier dacussdune bewven $15 Patties end solely eearesents ee Portes! amex ingyron ta fra alert c exer Ino ge Matally wocepable ore en Covering 2 scenes af the treatin, aubioe, hover 4 TER (OURS aR. bere leepres sed, A general ene af prepunec Usnwadtion if as“ Heanor: ‘Tap Sequlsten, J.C andor ono ne ner afte wes Loenese: LC. Deper estment Company aoe one y sates acaes Progert Real puopsts tobe soquized by icammae and io be aoa a6 Toba ‘Moser (auch other same a masa agzz0d upou 8; te Fores eal i ogscs ly, er mar ely aged ipon By te Pensa Lcensed Marts Lice wl srane to Ldanesee a noaranelsive sp, bs ye see eatine nf the Trg sane Gu De agieed ape, by the tho "Lievase! Marky, er ine pugpese of encthing, pjooring and eerkering the Prapetty£# sash acd vey amealy EES component te be lose thatem Gach 4 “Detetaymeat Commposent’) sibisctin ts ces af is Limtse A geeorast ssaas agreanent sha! osimeace 29 te des of te men as sia te date tho sore Agreement levine raven oa tons o by earns of Ave: Development Compunentsr Deralopmnent ‘Stanentse Opevatteg ‘Stondaed Review of Plast in flkiva 19 oetvin ochor roe sem ties, cotgencots and ‘helies ar the furtizs sllraranty apree mer. um tie co tke, ‘he Drports sha canta an cons of ms “owing Levekcprnt Campane Revtlapmen: Compansne Desorption Rosuireusnts osidental Appeaninmarety 250 Jel ase, acery Compress ject exadomniLes Hot Sue fla sles, try hotel Compu sealing of uppoouical 1S foams fad suntaiag wot fewer thea 50 intel one, ocr Goe fet class Inver. sptianss Component sonny vi lad ani meal A onmmsceil gompenert oxmalzaont Component ‘rth Coe ewcaell uy 8) of thes Propet Offee Domgoneet 4 office coupenen sucsistet ith (Chae & Hxury ule open Parag packing compruent assent th Comprecel he overel Keeuy nFthe Pees leven, ectacruel, equip ane forish the se lin'tcior, wack Devetonm 21 Steers, wid wil Vesnaee We Popa, aclalieg |W compre, in axcosdeave with Licanser's Develop ntish have been pePvides ce Licerame Male separa cm Se comin inthe License Ai ison Deselsgmar Compan ‘4 abere abet siondacs of owndtehip, speomion aad maimeniree sec Seth in Lissncor's Upetadng Standards, “ales have boo prvi’ Tsnice tndoh eparate oan en oof fe eotssiaed 4a ho Cceass AAgrsement, i eunvestlen withthe Properey ea etc Developm ager Ligases shall deliver 49 Linseee all plten ond soecfoctions, rendetings, 4 proposed conairise= badget gut oder plamstory sass a Liga eel aonably equi 9 eoavay Aa cesign at the Bravery (utlectively, the "Plans. All Plas sal fe set to earsn' oni review #2 aztval, which epprcval ahal. not Be unreseoiabis ‘WHAKOIS c= Colyet spbveded that ths Pum ene sth Lis pane Stancanle ane! pasting Stores, whew agplaabls, adh asbiec, designer, engciet, laze ABE. License Pees Tapninteon RighrtCr0ss. Fovminations Liven Traaghar Hipkiss mer anal erultns estined fn comeation wih “e Seslgo, saatrstion aval evelopment ef the Wager shal bs subpect ‘eTeeahser's pret alain epproval (to be cxnezcacaly wilcchd aedelyed} Ljeanso: shall ese hive ceommable aspreval over fe sai and UUgenese fo atonal proms fae a 9¢ 8] As approval ove Jalsa enka aa er eg oerpalgn. Progeay acd aE ehvelising an Leemey tak eroomo a Hal Mimugemest Agsrorest thn fli of "ieensor fue dhe ajotien of the Taal ees with the emer ferh'n Bebe {raven and sarmaré to sicecsats or iteulltan's oustonary tora of bv menage ascot. Liccnade aril alt exesite a Resident Murcuetaese Agtecrene CGeeneo'snpsin, foe Ea aescagenmit of be Rech Guoadoiuos 29 a0 arate of Licenss, on tam itich stl rapetive nil Usowe vars oMved by 29 experieneed renege a? waded Gasuy rect esate conpnsnie ta the Redon noawl,asdeterninea fy Licence in ts cease dein. ‘nthe event Liuensor sll csc in i 99 © discretion nat io mmage 2h Ros denial Condsainiuzh, Ine eunpauy elect oy License 19 ‘natags “he Resbdestie Condomithin, 938 any aegcemem =eloera thereto, anv ‘hy torrie theron, i. bo eabjocs w Tlecnenys ere ‘wtfoee appro) (402m Susteasomdoly wihld ur delayeD is fink, iecoaee sell have Ure alto ssperias “ke operations acc amagamert nt the Zasisenis Convousnksa ty 2. aelened mmanaver Io ease sor'plia ath the Operethig Sends, xa Seal bs eae ro rsrvaeissmen af avengers COR: and spances for such auzenisa (he “Sapersicary Fee", which Eipentsury Fat ldeene shal, be ential oe ella Som all rectdential condomisiee anit contac: tho Prepetty ors > sotiahte steviaea to vs felled. ta Consoudgm: Looumee (Gedelizes i he Lear: Sgreeren), stein nan-refuddl iowa Yess 29 oenses dll pay 19 Less set forth 0» Sehedate 2 atte swcrinnrn glassine fe Agteonwnt 9 eotain The Paces chall negosia apeliab Loensor oan sights Ya carina the Li is, including ‘sito vation, Fs the event uf w dota by Vosnvea on fe alist unde, ct'o temeaution of che Kec IManeiainert Agreement ore Basket Management Auer ales al individ sersaanisiom ome the Pasay in the aidinery see of Litenses' hassegs sn in acapalasee ters fe Dicanve gramnl ce cen lvalted srevmsences‘u he anuteted in deal te [cents Agreement, [ “ecopt apts No Otrae Baws Expense Depost: rechide (rom vonveying all omy pection of fx nte-st im tho Propo, xy dao doo: anverahis itor Ie sees or 319° fine igh lo andrea te inane groomer “Deposits nade 2 a3 Pr fo The closing uf atch wnt Saal Se deposiell tp wesw, end Tiesnses sll sel ilaut ie gtr sen consent oF Licesoe, ‘wbick eaay ho withed in Deets ale dispien, emove any OC le Tegra fe eaafaw especive oF shether St to wide che deposit de costlen 20". sore juecant (othe lente of Iss eantcat af ele governing isa fale of Sst: urd ar permuted aay Goa Jogucnents with respect ny Joaaciag atnined by Licentos wilh ypeet to Se Pepa, the Levelegment Comporenss capecaly shail ineuds, withoat Smiter, (i) te sheen, rede <x Ineotl coabeistip ois, Fastional ewesmp an wn ei Fr forme ‘af svizentip Gat divide weh ganscshp secording fe spect forigce: caleutae pile or feondornians, sevice! epett similar use, (golf etsoe and (U) cusines and the evn, firendion or eiunngeaan: of eases ard coy. geming velit, iateding.withotlmatios. 4° ati const ofthe tai oF rvefving of bes ur iniggrs pan YE Flt a 7 ‘ebeace oF SIR Dito te die that foeneo: sha, kare oni: oPase a9 7 illre the services uCany tid pect Cacinding, but nti to ‘cul enune!, tne armel, refer suns, codons cust seovstaa ul edviog 0° servicca isla cp eae dealing mi segatiat.n ef the License Agreaean: [Third Party Service), [fevsww sal. delves a sie of sach flea to swcling (obit vay fo soa a cc Licenses, 224 wabin the fay of Lisensea's rxipt of stk notice, Licensee sll be Ijaivst to donost wes Eleensoe a0 aoU. Ege! 10 UAH ALxpese Degen Simcunarasly st dla execaion Ligue Ag.eecent, the Sst intaimert of the Upttem Pee (as slefined in Sehecule 2) all be oT by the ML ccs of ths Ey 1 Cisne as elivred the Expense Deus to Licersne ia ascandanco vi this LT ena sha bs aiged to pay Lieesor an amour ezual fo SURGEGU ugon extention af cae Ageeenceah, rpceaniag, a0 amen eval Gist Ave No Brokers: Principals No Disturbances Conpldentaty: Resourses Eaoneney Counce bs pi yi fon dhcoees aor my exeeute the Live.se Agree eI ire porta of such Bagense Deposit i ns) tal nae rot br lad to the gayinend of rate incuned iy Lieonse: fn The Pay Seren. u reesity nl waranty Yo Lisencar thar f Fan at deat sich any broker wilh spect to the transaction sunlerlall oy ie LOL et pace dene aud bold Liceacotseless fers od vgsinst gay sli or any rabercge o ther enn ttasom or Rds fer eae by aly geson a: one clsiming ve Lae esta behalf af Licensee by rasan 0 Ce ransanna nent Tar orenige sal foth er AM BALagAph hell ss the leubisaion 3f 8 TO Lisuimae fishy, rpeseais and warts thn the prized? [iscimen fe ancey Roa PPrivetpal, whe osm 100 Hleeasee ve wll provide Liosvser wit: 3 ponedistabuce aszosenns finer all memangees yroual serie an cer eapecor Sbeament llders, 0 Licensa' suns oe hs Vis Cae fo the prepnees of his sho Fardey’ ceipenive oY-eas, dcciaes, emburs, euplayeer, agen, comman, aallens, anon, aicaes feuresetaives) agse = keep caidental the tens 3 this 1. Sher reatinskip wih ti cher Paty an€ any othoe inurexstion cloned sh In serrant€@ rhs 101, and will wey ice He a te ita repreerslives, Indes ant tire peries en a noel © rin nas, Neoetanting the forewing, Dov 2. Tran shall be pemiced nuke public vements with ceopect 00 the steulactone costanntned by “sip Tl and he coltionsip of tks Bans proves that such qublis stuiemenis do aot disclose any ansil toens uuree, The tre 92 als conVentality peo, shal anvies the femal 2F his L OL. sept shal aca Prwsiged sha te requied te quaraates the pagent co Liou af zy lose, sehage, cet exponen ecstatl ens) 05 id disbursement, nt. aed by of am Hohalf af Licensor by af av oseurenca ol eosin hal boy ats sousltied ay Licensee Ul sefweacas fy thie LOL facto a exes a aches <0 fel ar eraakmls, and al oso" af The sho! "8", chal ett t0 Se fea tnd ot amaents 2 2g, wild Snlirion, all Lcewee sal be pill ln 8 DoF, aut Tunes, hacel “Jeans shall soopovle wd: Licensut, at Livensee’s ale one ant Sac ‘exzeree = is ew chat Liomnoo: deizes to reewetuy ai oF any Toren ofthe saraye!ilscoatomlarsd by the LOE 9 acaonne fr 1 ato lose Ive eae secant “Toe binding provsiats of tus LO] (sri and svhon execute Liesnae Agrsemery) shal be goveted by fav Ins ef the Ble of ‘Nem Yeu Gashout soperd 59 cenllch of Toes pceisin). al dispcer bepoera fe aTee under the bindice previivas 2€ sis LOL dad, if and shan executed, tbe Jsenne Agreement all be nto Wy tintin i ueabcance wid the Ga Aplilion Ruder and Poeolises of JARS Intsanaliona fdblusten Rules ‘Ise pisos af aihracor shail be Now Yor, xy, Eg fo the Brake hacen his LOT shal ut Be ring on any pay karst, The Carex gras the: uno Sal's Licenen Agrasmnent hosncen Pie Parise aus oun oxveuted 22 ealivara arg shall be under uny leg cillgation of ary kind whetsmever to eomstny tle onde oy virus of he LOL: 1B) ts LO. shal: oz be eons to 8 nun Dee the Pacis Saher “ean wth reaper tae Drvkees, Confers and Goswring Las/Venus poisons set farh Forcins and (o) zo eyalble ertse of See hash bo assorted by amy yer “3a cans: or agree er nee or ari) evils ‘ponscen she Parties wit "else ain 223: (0 any Waggon cuciauglled, 1opus SNATOR OLLOW THIS PAGE Ae, Pycvded you ae in agreements theze team see comntcrsign tae LOLa the sate povidee Behn ati rsa ec ut wry ae. We ath Borsa to your tnsly 1.0 EXPLIL INVESPMANT COMPANY, eres 2 uy ‘he Julowing ovis forth a onlin of ibe principal eras proposed hotel mazagenven agrezcene fhe "HMA hat the below mentionnd pics igeth, "Party, and etc, fe “Parlles”s Reve ie open io augue wth aspect fo le belts Pebvoneed eta yon aguncvel of fhase demas oixt conser. {Opsratar fat defied Deion’ fp prepa 19 dij an HMA ened TOA tor Heocaner eyed yer your vies. best fast el laa hotel Use “Mote to he known a! operated as (ums lxometiceal Unlel 4 Tes Moscow (or acch ctor ‘aay 3 the Pag she! ually Opies pan ese is Masony Cay ovstaiahg apgeneimaly $0 fetal oo, Ovnere 1G, Roper matting! Cermpany anllur are of mote of is operator: Crump Hiremesenal Hotels Mecegeen’, LLC oadlst cn 30 snore of is aes Ferm ‘The EMA shall cplie neemy-tve (25) fell elec yours oa the date thr IIs pets for brsiness as a Tramp brend hal Soceviing saving ves J auroklango wilh ts HMA the “Opening Tate, sith toc (2) sunseccive Die (3) se carseat renal rs, epcs SF whch sensual ems sll be Be Opera's estian tr ach ‘iieg 36 Teer. inched ng any. perdal sma 2t tbe ommencensea: vl sspiation of temtiaen the Terr) equa te: Manogement Foes: S.Ct Gems peruse Reveaues 4.6066 of Gives Opsmtng Ravenuoe vtivoas Opening Resenes® nears afi savennp aad iecomt 0 any Ieed dove dvelly ur inleey fam tae apection of Oe Hise, and sapeese'y fee using all ros revenae> gered Zor 2) quer: com and oller sive, (0) fad and bevorage sas, the section of lk barges, saletieg and eam <r firetiow at 2 Hot cing uy sch scythe Za? 2 Tite, (2 hs apeetion of aay packing fii se us which lel aces and rors, (@) lease cayman, ‘elas provide patzing services for Ain. Eras: Deseinpment Santee Mrieaenanee oad Rapat of Hotes Contato! Sermest ets oe Sesibatias to ‘oc Hotel om any [znd ales tha tanta #31 wae rive a operets areas in the Veto, and (1) eee sonnel el and ven, Faces Fes, eso Crs, and Shelly fee rod all vomanb'ony received; ut expreaty fxslacing the fellow: @) cases: Urecelpts fom tie fieavcing, eve or ether Aggeston ef capa oes aul elbar egg You te Fes eperations a Jnwowe cervcd tems sacrtcw and cher promea’y acenited ae tld for nvevieen iE} any poeneds paid as vomzenstton fot oinanion et abecine ot sien! derrsxe tthe Heel {ivy rozende af acy insucaver and (eYvehaes, lous ot ‘tks piovined by Upstart Hate gests, nseative fee: A incendve the (sp sble on a orally basis so eject to anal rooneliaton) eal 9 PH nF Adsos Gr Opeutlag Pieht. “Adjusted Grose Openuting, Prue” sbi sees Cross Sperting Pat ap sees tos ite Ha lovee tee Vet Sher tha Hie ccentiva et thac Opertse, fe Ba sole isoisnn, elects ed exe, Over ot an atilats af Ounor ac be lz eiplayae of al amplayens afte Linel aed wil Me socey sponeble for Gx avn i expenses, all of ich shu be cluded ¢2 Qpesting Hryanss. ‘The salector ofall arpleyecy ul i be al Opeet's cevcvel whl Cuetase ofl be resporsicle foe ad oul all female fneiianelon an othe emp kod mse ‘eva, gt Oner's an eos and eaasaye, abl corstncl, equip ant Feonith the How! in acon: ‘Teemp seas Stancerds 3 ooee ten shall fe ira LUpezans, ab Owe sale sost ant egpenss stall oper Ioietain “hs. Homi in aeooedanes with he Dump Statins, ex€ Owner sath pencils Operon lt sul Sond apa Ls ene Opa toe to op'y nf ack ab igptions, “Ves Hota ite emplavass sh babi pectissat UE Cys sos fend iy ai Ihiet eontaived sorcioes reap, at Operian's ebcloa, 46 0d, wikao lotic, ceoeinstet inatiadng 226 severing (0 “rose guclalury Jesetbed Luisa, traning ake oisrtacen, ibemirier chenlvgy service, tesorvtiay services, mer Buf Reimbursement of Fess: Dey ve er ss, payee benef gis scainisustion, Dervices, ques station screeye ang sand! appiance aad, ‘nce tall ay Grenier sect eentnlized evens sla san (15; das fllowieg Operates deren cor ‘nr shall scimhase Opera ar fr all of poets oneamary uals at expenses, iehiding, bog not Hated , lage! fees, ce felted expenses Goring ream, wetiteaial ies demain rae Ming es ad water Flieger eview tes, fs oiore parienaly deeeizes in Uperler's omens fom of ra, ‘pera wil aovide eehalsal sarvices to Oumer 19 connects: str the development oft is oohaiel Terices mgvewet lo wineree a9 benonen Ouvat 236 ‘Operate in arcardoce Wich Cperter’s surtomery fos fhe 78a"). The tee of the TSA call expe on th af fe} pesiny Dte at (the date the vex the efiemay Ls such ose ma he defived in the TEA) is ecmpleta fo Stars asm: The TS4 wily seveng other tems, antala cuss ‘Bais ane conditions, including, wibsoa fiat, w technical savives Opeyatut rn arcoun. a ra there a prosaad 5 is sr the the sveet Cpotesr shall ple petconeel oi, AX costs and fepenses meena: wih uch pemoncel Clseudhg 3 Conpevsstien paki 12 sueh prrsoarals sill be ‘peta 29 Dine oper sll not oeue Financing os Sac te Sl Cried the BNA) bu sansection wth Ee Hotel (ohetber seared by the love" nr arias) Gk (2) ari Wo the Oponiag Dsto seecde rete pevent (25%) af tho vest to develop, fh ‘open the flere, <9} al any time follosieg the Oasning Date : se pat, C7562) ata lop val as Be } wes d sane the allo so) roe ‘Gsearng Pralit inss the oast oF tee, fosuncee prem and Alpaca the Rezetoe Pond (48 tie INA) Fe the aeoe in question i 2) entogeed agpregme Debt Sere (ss all he dened in the IMA) sermon wl af Flawaisgs Yes the asx awals conths i met easoaetly ancineed to be feat tar [2 (0: Any Financing veant e halted flor: Issthutfonal Lender fs et tert bal edeiced I: te HM AVL.