Common use of NOTICE OF EXERCISE OF REDEMPTION RIGHT Clause in Contracts

NOTICE OF EXERCISE OF REDEMPTION RIGHT. In accordance with Section 8.04 of the Agreement of Limited Partnership (the “Agreement”) of Pebblebrook Hotel, L.P., the undersigned hereby irrevocably (i) presents for redemption ________ Common Units in Pebblebrook Hotel, L.P. in accordance with the terms of the Agreement and the Common Unit Redemption Right referred to in Section 8.04 thereof, (ii) surrenders such Common Units and all right, title and interest therein and (iii) directs that the Cash Amount or REIT Shares Amount (as defined in the Agreement) as determined by the General Partner deliverable upon exercise of the Common Unit Redemption Right be delivered to the address specified below, and if REIT Shares (as defined in the Agreement) are to be delivered, such REIT Shares be registered or placed in the name(s) and at the address(es) specified below. Dated:________ __, _____ Name of Limited Partner: _______________________________________ (Signature of Limited Partner) _______________________________________ (Mailing Address) _______________________________________ (City) (State) (Zip Code) Signature Guaranteed by: _______________________________________ If REIT Shares are to be issued, issue to: Please insert social security or identifying number: Name: EXHIBIT C-1 CERTIFICATION OF NON-FOREIGN STATUS (FOR REDEEMING LIMITED PARTNERS THAT ARE ENTITIES) Under Section 1445(e) of the Internal Revenue Code of 1986, as amended (the “Code”), in the event of a disposition by a non-U.S. person of a partnership interest in a partnership in which (i) 50% or more of the value of the gross assets consists of United States real property interests (“USRPIs”), as defined in Section 897(c) of the Code, and (ii) 90% or more of the value of the gross assets consists of USRPIs, cash, and cash equivalents, the transferee will be required to withhold 10% of the amount realized by the non-U.S. person upon the disposition. To inform Pebblebrook Hotel Trust (the “General Partner”) and Pebblebrook Hotel, L.P. (the “Partnership”) that no withholding is required with respect to the redemption by ____________ (“Partner”) of its Common Units in the Partnership, the undersigned hereby certifies the following on behalf of Partner:

NOTICE OF EXERCISE OF REDEMPTION RIGHT. In accordance with Section 8.04 of the Agreement of Limited Partnership (the “Agreement”) of Pebblebrook Hotel, L.P.Agree Limited Partnership, the undersigned hereby irrevocably (i) presents for redemption ________ Common Units in Pebblebrook Hotel, L.P. Agree Limited Partnership in accordance with the terms of the Agreement and the Common Unit Redemption Right referred to in Section 8.04 thereof, (ii) surrenders such Common Units and all right, title and interest therein and (iii) directs that the Cash Amount or REIT Shares Amount (as defined in the Agreement) as determined by the General Partner deliverable upon exercise of the Common Unit Redemption Right be delivered to the address specified below, and if REIT Shares (as defined in the Agreement) are to be delivered, such REIT Shares be registered or placed in the name(s) and at the address(es) specified below. Dated:________ __, _____ Name of Limited Partner: _______________________________________ (Signature of Limited Partner) _______________________________________ (Mailing Address) _______________________________________ (City) (State) (Zip Code) Signature Guaranteed by: _______________________________________ If REIT Shares are to be issued, issue to: Please insert social security or identifying number: Name: EXHIBIT C-1 CERTIFICATION OF NON-FOREIGN STATUS (FOR REDEEMING LIMITED PARTNERS THAT ARE ENTITIES) Under Section 1445(e) of the Internal Revenue Code of 1986, as amended (the “Code”), in the event of a disposition by a non-U.S. person of a partnership interest in a partnership in which (i) 50% or more of the value of the gross assets consists of United States real property interests (“USRPIs”), as defined in Section 897(c) of the Code, and (ii) 90% or more of the value of the gross assets consists of USRPIs, cash, and cash equivalents, the transferee will be required to withhold 10% of the amount realized by the non-U.S. person upon the disposition. To inform Pebblebrook Hotel Trust Agree Realty Corporation (the “General Partner”) and Pebblebrook Hotel, L.P. Agree Limited Partnership (the “Partnership”) that no withholding is required with respect to the redemption by ____________ (“Partner”) of its Common Units in the Partnership, the undersigned hereby certifies the following on behalf of Partner:

NOTICE OF EXERCISE OF REDEMPTION RIGHT. In accordance with Section 8.04 8.6 of the Agreement of Limited Partnership (the “Agreement”) of Pebblebrook Hotel, L.P., NSAM LP the undersigned hereby irrevocably (i) presents for redemption ________ Partnership Common Units in Pebblebrook Hotel, L.P. NSAM LP in accordance with the terms of the Agreement and the Partnership Common Unit Redemption Right redemption right referred to in Section 8.04 8.6 thereof, (ii) surrenders such Partnership Common Units and all right, title and interest therein and (iii) directs that the Cash Amount or REIT Company Shares Amount (as defined in the Agreement) as determined by the General Partner deliverable upon exercise of the Partnership Common Unit Redemption Right redemption right be delivered to the address specified below, and if REIT Company Shares (as defined in the Agreement) are to be delivered, such REIT Company Shares be registered or placed in the name(s) and at the address(es) specified below. Dated:________ __, _____ Name of Limited Partner: _______________________________________ (Signature of Limited Partner) _______________________________________ (Mailing Address) _______________________________________ (City) (State) (Zip Code) Signature Guaranteed by: _______________________________________ If REIT Company Shares are to be issued, issue to: Please insert social security or identifying number: Name: Exhibit B-1 EXHIBIT C-1 CERTIFICATION OF NON-FOREIGN STATUS (FOR REDEEMING LIMITED PARTNERS THAT ARE ENTITIES) Under Section 1445(e) of the Internal Revenue Code of 1986, as amended (the “Code”), in the event of a disposition by a non-U.S. person of a partnership interest in a partnership in which (i) 50% or more of the value of the gross assets consists of United States real property interests (“USRPIs”), as defined in Section 897(c) of the Code, and (ii) 90% or more of the value of the gross assets consists of USRPIs, cash, and cash equivalents, the transferee will be required to withhold 10% of the amount realized by the non-U.S. person upon the disposition. To inform Pebblebrook Hotel Trust NorthStar Asset Management Group Inc. (the “General Partner”) and Pebblebrook Hotel, L.P. NSAM LP (the “Partnership”) that no withholding is required with respect to the redemption by ____________ (“Partner”) of its Partnership Common Units in the Partnership, the undersigned hereby certifies the following on behalf of Partner:

NOTICE OF EXERCISE OF REDEMPTION RIGHT. In accordance with Section 8.04 8.6 of the Amended and Restated Agreement of Limited Partnership (the “Agreement”) of Pebblebrook Hotel, L.P., NorthStar Realty Finance Limited Partnership the undersigned hereby irrevocably (i) presents for redemption ________ Partnership Common Units in Pebblebrook Hotel, L.P. NorthStar Realty Finance Limited Partnership in accordance with the terms of the Agreement and the Partnership Common Unit Redemption Right redemption right referred to in Section 8.04 8.6 thereof, (ii) surrenders such Partnership Common Units and all right, title and interest therein and (iii) directs that the Cash Amount or REIT Shares Amount (as defined in the Agreement) as determined by the General Partner deliverable upon exercise of the Partnership Common Unit Redemption Right redemption right be delivered to the address specified below, and if REIT Shares (as defined in the Agreement) are to be delivered, such REIT Shares be registered or placed in the name(s) and at the address(es) specified below. Dated:________ __, _____ Name of Limited Partner: _______________________________________ (Signature of Limited Partner) _______________________________________ (Mailing Address) _______________________________________ (City) (State) (Zip Code) Signature Guaranteed by: _______________________________________ If REIT Shares are to be issued, issue to: Please insert social security or identifying number: Name: EXHIBIT C-1 CERTIFICATION OF NON-FOREIGN STATUS (FOR REDEEMING LIMITED PARTNERS THAT ARE ENTITIES) Under Section 1445(e) of the Internal Revenue Code of 1986, as amended (the “Code”), in the event of a disposition by a non-U.S. person of a partnership interest in a partnership in which (i) 50% or more of the value of the gross assets consists of United States real property interests (“USRPIs”), as defined in Section 897(c) of the Code, and (ii) 90% or more of the value of the gross assets consists of USRPIs, cash, and cash equivalents, the transferee will be required to withhold 10% of the amount realized by the non-U.S. person upon the disposition. To inform Pebblebrook Hotel Trust NorthStar Realty Finance Corp. (the “General Partner”) and Pebblebrook Hotel, L.P. NorthStar Realty Finance Limited Partnership. (the “Partnership”) that no withholding is required with respect to the redemption by ____________ (“Partner”) of its Partnership Common Units in the Partnership, the undersigned hereby certifies the following on behalf of Partner: