Hotel Property in Florida

Sale of Hotel property located in Lauderhill, FL. The Estates own real properties located at 3501 Inverrary Blvd., Lauderhill, FL 33319, 3366 Spanish Moss Terrace, Lauderhill, FL 33319 and 6300 Racquet Club Drive., Lauderhill, FL 33319 (the “Real Properties”). The Real Properties are operated as a hotel commonly known as the Inverrary Resort (the "Hotel"). The Hotel features an 8-story building containing 207 residential units and 11 commercial suites, along with certain personal property used in the operations of the Hotel, including without limitation, furniture, telephones, linens, commercial kitchen equipment, contracts with suppliers and vendors (the “FF&E”), and more described as below:

• All of the Inverrary Property, the Alrames Property, and the Nirvana Property (collectively, the “Real Property”), which Property shall be sold, conveyed and transferred in its entirety, as specifically described and identified in Exhibits “A”, “B” and “C” (the "Real Property");
• All of the tangible assets used in the operation, management, design, or marketing of the Project that are owned by Inverrary which are specifically listed or described, to the extent such information is available or known to the Trustee, in Exhibit “D” (the"Personal Property"); provided, however, that Seller makes no representation or warranty of any kind with respect to the accuracy, adequacy or completeness of such schedule;
• All of the executory contracts and unexpired leases to which Inverrary is a party related to the Project described, to the extent such information is available or known to the Trustee, in Exhibit “E” (collectively, the "Assumed Contracts"), which shall include without limitation all reservation agreements between Seller and future guests of the Project; 
• All plans, surveys, specifications, schedules, drawings, blue prints, renderings, models, displays and schedules depicting the Project for use only with respect to the Project (collectively, the "Drawings") together with all assignable licenses, permits, certificates of occupancy, consents and approvals, whether governmental or otherwise, related to the Project for use only with respect to the Project and to the extent owned by Seller (collectively, "Permits," which collectively with the Drawings are referred to as the "Project Documents") (provided, however, that Seller makes no representation or warranty of any kind with respect to the accuracy, adequacy or completeness of such schedule or of Seller's ownership of any Project Documents); and
• All prepaid non-refundable fees paid to any Governmental Entity for Permits if any (collectively, the "Governmental Fees").