0001193125-07-099443 Sample Contracts

PROGRAM AGREEMENT FOR MHI/CARLYLE HOTEL INVESTMENT PROGRAM I, L.L.C. AND MHI/CARLYLE HOTEL LESSEE PROGRAM I, L.L.C. Dated as of April 26, 2007

Program Agreement • May 2nd, 2007 • MHI Hospitality CORP • Real estate investment trusts • Delaware

• Contract Type
  Program Agreement
• Filed
  May 2nd, 2007
• Company
  MHI Hospitality CORP
• Industry
  Real estate investment trusts
• Jurisdiction
  Delaware

THIS PROGRAM AGREEMENT is made and entered into as of April 26, 2007 (the “Effective Date”) by and among CRP/MHI HOLDINGS, L.L.C., a Delaware limited liability company (“Carlyle”), MHI HOTEL INVESTMENTS HOLDINGS LLC, a Delaware limited liability company (“MHI”), MHI Hospitality TRS II, LLC, a Delaware limited liability company (“MHI TRS”) MHI/CARLYLE HOTEL INVESTMENT PROGRAM I, L.L.C., a Delaware limited liability company (the “Company”) and MHI/Carlyle Lessee Program I, L.L.C., a Delaware limited liability company (the “Lessee”).