Hotel Loan Documents

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LIST OF ITEMS REQUIRED TO UNDERWRITE

HOTEL / HOSPITALITY FINANCING

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1. Most recent Trailing 12 month INCOME/EXPENSE STATEMENT in standard Hotel accounting format.

2. LAST 3 YEARS INCOME/EXPENSE STATEMENTS with monthly and annual figures.

3. SUMMARY OF ALL COMMERCIAL OR DEPARTMENTAL LEASES (if any) showing escalations and expirations, as well as a summary of t he terms of any franchise agreements.

4. COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE.

5. IF ACQUISITION, PROVIDE COPY OF FULY EXECUTED CONTRACT OF SALE.

6. IF REFI, PRICE ORIGINALLY PAID FOR PROPERTY, date of purchase and summary of current financing.

7. PHOTOS, if available, and website information.

8. SITE PLAN OR PROPERTY SURVEY

9. SUMMARY OF CURRENT FINANCING (refinance only) including:

   Current lender

   Current principal balance

   Current interest rate

   Due date

   Prepayment penalty information

10. CURRENT FINANCIAL STATEMENT for BUSINESS/ENTITY with Balance Sheet.

11. LAST 3 YEARS BUSINESS TAX RETURNS.

12. BACKGROUND / BIO FOR EACH PARTNER AND FOR THE OWNERSHIP ENTITY EMPHASIZING HOTEL / HOSPITALITY INDUSTRY / REAL ESTATE EXPERIENCE.

13. BACKGROUND / INFORMATION ON MANAGEMENT COMPANY, if separate from ownership.

14. RENOVATION HISTORY FOR AT LEAST 3 YEARS with project descriptions and approximate amounts of each project.

15. CURRENT PERSONAL FINANCIAL STATEMENT(S). (for partners who own 20% or more)

16. LAST 2 YEARS PERSONAL TAX RETURNS (for partners who own 20% or more)