Interest Rate Lock Agreement Sample Contracts

Re: Interest Rate Lock Agreement for Ashford 8 Property Portfolio (Pool 1) (November 18th, 2005)

Ashford Hospitality Limited Partnership (Borrowers Sponsor) has submitted an application dated as of August 17, 2005 (the Application) to UBS Real Estate Investments Inc. (UBS) whereby, subject to the terms and conditions of the Application, Borrowers Sponsor has applied to UBS for a mortgage loan (the Loan) to a special purpose entity (the Borrower) in the anticipated principal amount of up to $110,700,000 (the Anticipated Loan Amount) to be secured by the real property and other assets (collectively, the Property) set forth in the Application. Capitalized terms used but not defined in this letter agreement (the Agreement) shall have the meaning set forth in the Application. Borrowers Sponsor has requested UBS to establish and fix an Interest Rate for the Loan notwithstanding that UBS has made no obligation or commitment to make the Loan and that UBS has not completed its legal and underwriting due diligence on the Property and has not received credit approval for the loan. In order t

Re: Interest Rate Lock Agreement for Ashford 8 Property Portfolio (Pool 2) (November 18th, 2005)

Ashford Hospitality Limited Partnership (Borrowers Sponsor) has submitted an application dated as of August 17, 2005 (the Application) to UBS Real Estate Investments Inc. (UBS) whereby, subject to the terms and conditions of the Application, Borrowers Sponsor has applied to UBS for a mortgage loan (the Loan) to a special purpose entity (the Borrower) in the anticipated principal amount of up to $100,500,000 (the Anticipated Loan Amount) to be secured by the real property and other assets (collectively, the Property) set forth in the Application. Capitalized terms used but not defined in this letter agreement (the Agreement) shall have the meaning set forth in the Application. Borrowers Sponsor has requested UBS to establish and fix an Interest Rate for the Loan notwithstanding that UBS has made no obligation or commitment to make the Loan and that UBS has not completed its legal and underwriting due diligence on the Property and has not received credit approval for the loan. In order t