[sheet: Cover]
Field | Value
Document Title | Memorandum — Mortgage and Title Deliverables Checklist
Date | June 20, 2022
Prepared By | Daniel Obi, Working Associate, Banking & Finance
Firm | Calderwood & Harkness LLP
To | Ian Blackwood, Responsible Partner; Sophie Tremblay, Lead Associate
Client | Verimark Hospitality Group Inc. (VHG)
Matter | $700,000,000 Senior Secured Term Loan B Refinancing
Engagement No. | 1016-00009
Administrative Agent / Collateral Agent | Crescent Harbor Bank, N.A.
Title Insurer | Continental Fidelity Title Company
Mortgaged Property Owner (Primary) | Verimark Resort Properties LLC (42 properties)
Additional Mortgagor — FL Properties | Palmetto Beachfront Hotels LLC (12 FL coastal properties, subset of 42)
Total Mortgaged Properties | 42
Number of States | 12 (FL, NY, CA, TX, GA, CO, AZ, IL, WA, OR, NV, VA)
Aggregate Appraised Value | ~$2,180,000,000
Closing Date | July 21, 2022
Post-Closing Deadline | August 5, 2022
Notes | Mortgages to be recorded post-closing; all deliverables must be completed by August 5, 2022 per the Post-Closing Letter Agreement. Crescent Harbor Bank, N.A. acts as Collateral Agent. Liens are first-priority, pari passu with the $400M RCF under the Amended and Restated Intercreditor Agreement.
[sheet: Property List & Mortgage Delive]
Property No. | Property Name | Street Address | City | County | State | Mortgagor Entity | Form of Security Instrument | Recording Office | Recording Fee Estimate | Documentary / Mortgage Tax Applicable | Mortgage Tax Estimate | Execution Status | Recording Status | Date Recorded | Recording Reference / Book & Page | Notes
1 | Palmetto Grand Resort & Spa | 1500 Ocean Boulevard | Miami Beach | Miami-Dade | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Miami-Dade County Clerk of Court | 225 | Yes | 24500 | Executed | Pending — Post-Closing | FL documentary stamp tax and intangible tax apply; to be recorded by Aug 5, 2022
2 | Palmetto Seaside Inn | 3200 Atlantic Avenue | Fort Lauderdale | Broward | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Broward County Clerk of Court | 225 | Yes | 18200 | Executed | Pending — Post-Closing | FL documentary stamp tax and intangible tax apply
3 | Palmetto Sunset Beach Hotel | 700 Gulf Drive | Sarasota | Sarasota | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Sarasota County Clerk of Court | 225 | Yes | 15800 | Executed | Pending — Post-Closing
4 | Palmetto Bay Harbor Resort | 4100 Collins Avenue | Miami Beach | Miami-Dade | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Miami-Dade County Clerk of Court | 225 | Yes | 22100 | Executed | Pending — Post-Closing | FL documentary stamp tax and intangible tax apply
5 | Palmetto Key West Waterfront Hotel | 500 Front Street | Key West | Monroe | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Monroe County Clerk of Court | 225 | Yes | 19500 | Executed | Pending — Post-Closing
6 | Palmetto Clearwater Beach Resort | 800 Mandalay Avenue | Clearwater | Pinellas | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Pinellas County Clerk of Court | 225 | Yes | 16300 | Executed | Pending — Post-Closing
7 | Palmetto Naples Bayside Inn | 1200 Gulf Shore Boulevard | Naples | Collier | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Collier County Clerk of Court | 225 | Yes | 17800 | Executed | Pending — Post-Closing
8 | Palmetto Daytona Shores Hotel | 2500 South Atlantic Avenue | Daytona Beach | Volusia | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Volusia County Clerk of Court | 225 | Yes | 12400 | Executed | Pending — Post-Closing
9 | Palmetto Jacksonville Beach Resort | 100 1st Street North | Jacksonville Beach | Duval | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Duval County Clerk of Court | 225 | Yes | 14200 | Executed | Pending — Post-Closing
10 | Palmetto Palm Beach Oceanfront Hotel | 3000 South Ocean Boulevard | Palm Beach | Palm Beach | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Palm Beach County Clerk of Court | 225 | Yes | 21700 | Executed | Pending — Post-Closing
11 | Palmetto St. Augustine Coastal Inn | 600 A1A Beach Boulevard | St. Augustine | St. Johns | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | St. Johns County Clerk of Court | 225 | Yes | 13200 | Executed | Pending — Post-Closing
12 | Palmetto Destin Harbor Hotel | 1000 Harbor Boulevard | Destin | Okaloosa | FL | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Okaloosa County Clerk of Court | 225 | Yes | 14300 | Executed | Pending — Post-Closing
13 | Verimark Midtown Hotel & Conference Center | 450 West 42nd Street | New York | New York | NY | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | New York County Register's Office | 300 | Yes | 87500 | Executed | Pending — Post-Closing | NY mortgage recording tax applies; CEMA or gap mortgage to be considered to reduce tax
14 | Verimark SoHo Boutique Hotel | 125 Wooster Street | New York | New York | NY | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | New York County Register's Office | 300 | Yes | 78000 | Executed | Pending — Post-Closing | NY mortgage recording tax applies; CEMA under review
15 | Verimark Brooklyn Heights Hotel | 60 Henry Street | Brooklyn | Kings | NY | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Kings County Register's Office | 300 | Yes | 65000 | Executed | Pending — Post-Closing | NY mortgage recording tax applies
16 | Verimark White Plains Executive Suites | 300 Hamilton Avenue | White Plains | Westchester | NY | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Westchester County Clerk's Office | 300 | Yes | 52000 | Executed | Pending — Post-Closing | NY mortgage recording tax applies; Westchester county rate
17 | Verimark Long Island Conference Resort | 1400 Old Country Road | Garden City | Nassau | NY | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Nassau County Clerk's Office | 300 | Yes | 71500 | Executed | Pending — Post-Closing | NY mortgage recording tax applies
18 | Verimark Albany Capitol Hotel | 80 Ashbury Asset Advisors | Albany | Albany | NY | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Albany County Clerk's Office | 300 | Yes | 71000 | Executed | Pending — Post-Closing | NY mortgage recording tax applies
19 | Verimark Pacific Heights Hotel | 1200 California Street | San Francisco | San Francisco | CA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | San Francisco County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | CA requires deed of trust form; no documentary transfer tax on security instruments
20 | Verimark Beverly Hills Hotel & Spa | 9500 Wilshire Boulevard | Beverly Hills | Los Angeles | CA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Los Angeles County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | CA deed of trust form
21 | Verimark San Diego Bayfront Hotel | 200 Harbor Drive | San Diego | San Diego | CA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | San Diego County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | CA deed of trust form
22 | Verimark Napa Valley Resort & Vineyard | 4500 Silverado Trail | Napa | Napa | CA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Napa County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | CA deed of trust form
23 | Verimark Santa Monica Beach Hotel | 1700 Ocean Avenue | Santa Monica | Los Angeles | CA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Los Angeles County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | CA deed of trust form
24 | Verimark Galleria Suites | 5100 Westheimer Road | Houston | Harris | TX | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Harris County Clerk's Office | 125 | No | 0 | Executed | Pending — Post-Closing | TX deed of trust form required
25 | Verimark Dallas Uptown Hotel | 2800 McKinney Avenue | Dallas | Dallas | TX | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Dallas County Clerk's Office | 125 | No | 0 | Executed | Pending — Post-Closing | TX deed of trust form
26 | Verimark Austin Lakeline Resort | 1100 South Congress Avenue | Austin | Travis | TX | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Travis County Clerk's Office | 125 | No | 0 | Executed | Pending — Post-Closing | TX deed of trust form
27 | Verimark San Antonio Riverwalk Hotel | 300 East Commerce Street | San Antonio | Bexar | TX | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Bexar County Clerk's Office | 125 | No | 0 | Executed | Pending — Post-Closing | TX deed of trust form
28 | Verimark Buckhead Hotel | 3300 Peachtree Road NE | Atlanta | Fulton | GA | Verimark Resort Properties LLC | Security Deed, Assignment of Leases and Rents, and Security Agreement | Fulton County Superior Court Clerk | 100 | Yes | 5600 | Executed | Pending — Post-Closing | GA uses security deed form; intangible recording tax applies
29 | Verimark Savannah Historic District Inn | 200 East Bay Street | Savannah | Chatham | GA | Verimark Resort Properties LLC | Security Deed, Assignment of Leases and Rents, and Security Agreement | Chatham County Superior Court Clerk | 100 | Yes | 5600 | Executed | Pending — Post-Closing | GA security deed form; intangible recording tax applies
30 | Verimark Augusta National Hotel | 1450 Walton Way | Augusta | Richmond | GA | Verimark Resort Properties LLC | Security Deed, Assignment of Leases and Rents, and Security Agreement | Richmond County Superior Court Clerk | 100 | Yes | 5600 | Executed | Pending — Post-Closing | GA security deed form; intangible recording tax applies
31 | Verimark Mountain Lodge | 1800 Blake Street | Denver | Denver | CO | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Denver County Clerk & Recorder | 100 | No | 0 | Executed | Pending — Post-Closing | CO deed of trust form
32 | Verimark Aspen Ski Resort Hotel | 600 East Durant Avenue | Aspen | Pitkin | CO | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Pitkin County Clerk & Recorder | 100 | No | 0 | Executed | Pending — Post-Closing | CO deed of trust form
33 | Verimark Colorado Springs Garden Hotel | 2200 Lake Avenue | Colorado Springs | El Paso | CO | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | El Paso County Clerk & Recorder | 100 | No | 0 | Executed | Pending — Post-Closing | CO deed of trust form
34 | Verimark Desert Springs Resort | 7600 East Camelback Road | Scottsdale | Maricopa | AZ | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Maricopa County Recorder's Office | 100 | No | 0 | Executed | Pending — Post-Closing | AZ deed of trust form
35 | Verimark Sedona Red Rock Hotel | 2900 West Highway 89A | Sedona | Yavapai | AZ | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Yavapai County Recorder's Office | 100 | No | 0 | Executed | Pending — Post-Closing | AZ deed of trust form
36 | Verimark Lakeshore Hotel | 200 North Michigan Avenue | Chicago | Cook | IL | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Cook County Recorder of Deeds | 175 | No | 0 | Executed | Pending — Post-Closing | IL mortgage form
37 | Verimark Oak Brook Conference Hotel | 1800 Spring Road | Oak Brook | DuPage | IL | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | DuPage County Recorder's Office | 175 | No | 0 | Executed | Pending — Post-Closing | IL mortgage form
38 | Verimark Puget Sound Hotel | 1100 Pike Street | Seattle | King | WA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | King County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | WA deed of trust form
39 | Verimark Bellevue Executive Hotel | 500 108th Avenue NE | Bellevue | King | WA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | King County Recorder's Office | 150 | No | 0 | Executed | Pending — Post-Closing | WA deed of trust form
40 | Verimark Pearl District Hotel | 900 NW Glisan Street | Portland | Multnomah | OR | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Multnomah County Recorder's Office | 125 | No | 0 | Executed | Pending — Post-Closing | OR deed of trust form; single OR property
41 | Verimark Las Vegas Convention Hotel | 3700 Paradise Road | Las Vegas | Clark | NV | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Clark County Recorder's Office | 125 | No | 0 | Executed | Pending — Post-Closing | NV deed of trust form; single NV property
42 | Verimark Arlington Executive Hotel | 1200 Wilson Boulevard | Arlington | Arlington | VA | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Arlington County Circuit Court Clerk | 125 | Yes | 3350 | Executed | Pending — Post-Closing | VA deed of trust form; VA recordation tax and grantor tax may apply
TOTAL | 7575 | 655150 | Total Recording Fees: $7,575.00; Total Mortgage/Documentary Taxes: $655,150.00; Grand Total: $662,725.00
[sheet: State Summary]
State | Number of Properties | Mortgagor Entity | Form of Security Instrument | Documentary / Mortgage Tax | Key State-Specific Requirements | Total Estimated Recording Fees | Total Estimated Mortgage Taxes
FL | 12 | Palmetto Beachfront Hotels LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Yes — FL documentary stamp tax ($0.35 per $100) and intangible tax ($0.002 per $1.00 of new debt secured) | Mortgages recorded in county of property location; FL documentary stamp and intangible taxes required | 2700 | 210000
NY | 6 | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | Yes — NY mortgage recording tax (rates vary by county; NYC rate: 2.80% on facilities > $500K) | CEMA (Consolidation, Extension, and Modification Agreement) to be evaluated to reduce mortgage recording tax; record with county register/clerk | 1800 | 425000
CA | 5 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No — CA does not impose documentary transfer tax on deeds of trust securing debt | Deed of trust form required; record with county recorder | 750 | 0
TX | 4 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No | Deed of trust form; record with county clerk | 500 | 0
GA | 3 | Verimark Resort Properties LLC | Security Deed, Assignment of Leases and Rents, and Security Agreement | Yes — GA intangible recording tax ($1.50 per $500 of new debt secured) | GA uses security deed form; intangible recording tax required; record with superior court clerk | 300 | 16800
CO | 3 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No | Deed of trust form; record with county clerk & recorder | 300 | 0
AZ | 2 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No | Deed of trust form; record with county recorder | 200 | 0
IL | 2 | Verimark Resort Properties LLC | Mortgage, Assignment of Leases and Rents, and Security Agreement | No | Mortgage form; record with county recorder of deeds | 350 | 0
WA | 2 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No | Deed of trust form; record with county recorder; WA real estate excise tax not applicable to security instruments | 300 | 0
OR | 1 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No | Deed of trust form; record with county recorder | 125 | 0
NV | 1 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | No | Deed of trust form; record with county recorder | 125 | 0
VA | 1 | Verimark Resort Properties LLC | Deed of Trust, Assignment of Leases and Rents, and Security Agreement | Yes — VA recordation tax ($0.25 per $100) and grantor tax | Deed of trust form; VA recordation tax applies; record with circuit court clerk | 125 | 3350
TOTAL | 42 | 7575 | 655150
Grand Total Estimated Cost | 662725
[sheet: Title Insurance Deliverables]
Property No. | Property Name | State | Title Insurer | Title Commitment Received | Title Commitment Date | Proposed Insured Amount | Mortgagee Policy Form | Required Endorsements | Schedule B-I Requirements Cleared | Schedule B-II Exceptions Reviewed | Open Title Exceptions / Issues | Title Policy Delivery Status | Estimated Title Premium | Notes
1 | Palmetto Grand Resort & Spa | FL | Continental Fidelity Title Company | Yes | 2022-06-15 | 65000000 | 2006 ALTA Lender's Policy | ALTA 3.1 (Zoning), ALTA 9 (Restrictions), ALTA 11 (Mortgage Modification), ALTA 28 (Easement), Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None — standard exceptions deleted or insured over | Pending — Post-Closing | 48000 | Policy to be issued upon recording of mortgage
2 | Palmetto Seaside Inn | FL | Continental Fidelity Title Company | Yes | 2022-06-15 | 52000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 39000
3 | Palmetto Sunset Beach Hotel | FL | Continental Fidelity Title Company | Yes | 2022-06-14 | 45000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 34000
4 | Palmetto Bay Harbor Resort | FL | Continental Fidelity Title Company | Yes | 2022-06-16 | 62000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 46000
5 | Palmetto Key West Waterfront Hotel | FL | Continental Fidelity Title Company | Yes | 2022-06-14 | 55000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 41000
6 | Palmetto Clearwater Beach Resort | FL | Continental Fidelity Title Company | Yes | 2022-06-13 | 47000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 35500
7 | Palmetto Naples Bayside Inn | FL | Continental Fidelity Title Company | Yes | 2022-06-15 | 50000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 37500
8 | Palmetto Daytona Shores Hotel | FL | Continental Fidelity Title Company | Yes | 2022-06-13 | 35000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 26500
9 | Palmetto Jacksonville Beach Resort | FL | Continental Fidelity Title Company | Yes | 2022-06-14 | 40000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 30000
10 | Palmetto Palm Beach Oceanfront Hotel | FL | Continental Fidelity Title Company | Yes | 2022-06-16 | 60000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 45000
11 | Palmetto St. Augustine Coastal Inn | FL | Continental Fidelity Title Company | Yes | 2022-06-14 | 38000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 28500
12 | Palmetto Destin Harbor Hotel | FL | Continental Fidelity Title Company | Yes | 2022-06-15 | 41000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance, Tie-In | Yes | Yes | None material | Pending — Post-Closing | 31000
13 | Verimark Midtown Hotel & Conference Center | NY | Continental Fidelity Title Company | Yes | 2022-06-18 | 120000000 | 2006 ALTA Lender's Policy (NY Form) | ALTA 3.1 (Zoning), ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | Pending: confirmation of CEMA structure to address gap mortgage | Pending — Post-Closing | 95000 | NY-specific form required; coordinate with local counsel on CEMA
14 | Verimark SoHo Boutique Hotel | NY | Continental Fidelity Title Company | Yes | 2022-06-18 | 105000000 | 2006 ALTA Lender's Policy (NY Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | Pending: CEMA review | Pending — Post-Closing | 82000 | CEMA under review
15 | Verimark Brooklyn Heights Hotel | NY | Continental Fidelity Title Company | Yes | 2022-06-17 | 85000000 | 2006 ALTA Lender's Policy (NY Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 66000
16 | Verimark White Plains Executive Suites | NY | Continental Fidelity Title Company | Yes | 2022-06-17 | 68000000 | 2006 ALTA Lender's Policy (NY Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 52000
17 | Verimark Long Island Conference Resort | NY | Continental Fidelity Title Company | Yes | 2022-06-18 | 92000000 | 2006 ALTA Lender's Policy (NY Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 72000
18 | Verimark Albany Capitol Hotel | NY | Continental Fidelity Title Company | Yes | 2022-06-19 | 55000000 | 2006 ALTA Lender's Policy (NY Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 42000
19 | Verimark Pacific Heights Hotel | CA | Continental Fidelity Title Company | Yes | 2022-06-12 | 95000000 | 2006 ALTA Lender's Policy (CA CLTA/ALTA Combined) | CLTA 100 (Restrictions), CLTA 116 (Zoning), ALTA 9, ALTA 11, ALTA 28, Comprehensive, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 72000 | CA CLTA endorsements in addition to standard ALTA
20 | Verimark Beverly Hills Hotel & Spa | CA | Continental Fidelity Title Company | Yes | 2022-06-12 | 110000000 | 2006 ALTA Lender's Policy (CA CLTA/ALTA Combined) | CLTA 100, CLTA 116, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 85000
21 | Verimark San Diego Bayfront Hotel | CA | Continental Fidelity Title Company | Yes | 2022-06-13 | 78000000 | 2006 ALTA Lender's Policy (CA CLTA/ALTA Combined) | CLTA 100, CLTA 116, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 60000
22 | Verimark Napa Valley Resort & Vineyard | CA | Continental Fidelity Title Company | Yes | 2022-06-14 | 72000000 | 2006 ALTA Lender's Policy (CA CLTA/ALTA Combined) | CLTA 100, CLTA 116, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 55000
23 | Verimark Santa Monica Beach Hotel | CA | Continental Fidelity Title Company | Yes | 2022-06-13 | 88000000 | 2006 ALTA Lender's Policy (CA CLTA/ALTA Combined) | CLTA 100, CLTA 116, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 68000
24 | Verimark Galleria Suites | TX | Continental Fidelity Title Company | Yes | 2022-06-16 | 58000000 | 2006 ALTA Lender's Policy (TX T-2 Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 44000 | TX promulgated endorsement forms required
25 | Verimark Dallas Uptown Hotel | TX | Continental Fidelity Title Company | Yes | 2022-06-16 | 65000000 | 2006 ALTA Lender's Policy (TX T-2 Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 49000
26 | Verimark Austin Lakeline Resort | TX | Continental Fidelity Title Company | Yes | 2022-06-17 | 52000000 | 2006 ALTA Lender's Policy (TX T-2 Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 39000
27 | Verimark San Antonio Riverwalk Hotel | TX | Continental Fidelity Title Company | Yes | 2022-06-17 | 48000000 | 2006 ALTA Lender's Policy (TX T-2 Form) | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 36000
28 | Verimark Buckhead Hotel | GA | Continental Fidelity Title Company | Yes | 2022-06-18 | 56000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 42000
29 | Verimark Savannah Historic District Inn | GA | Continental Fidelity Title Company | Yes | 2022-06-18 | 42000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance | Yes | Yes | Pending: review of historic preservation easement on facade | Pending — Post-Closing | 32000 | Historic preservation easement to be reviewed as Schedule B-II exception
30 | Verimark Augusta National Hotel | GA | Continental Fidelity Title Company | Yes | 2022-06-19 | 36000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 27000
31 | Verimark Mountain Lodge | CO | Continental Fidelity Title Company | Yes | 2022-06-16 | 48000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 36000
32 | Verimark Aspen Ski Resort Hotel | CO | Continental Fidelity Title Company | Yes | 2022-06-16 | 72000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 55000
33 | Verimark Colorado Springs Garden Hotel | CO | Continental Fidelity Title Company | Yes | 2022-06-17 | 34000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 26000
34 | Verimark Desert Springs Resort | AZ | Continental Fidelity Title Company | Yes | 2022-06-15 | 52000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 39000
35 | Verimark Sedona Red Rock Hotel | AZ | Continental Fidelity Title Company | Yes | 2022-06-15 | 44000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 33000
36 | Verimark Lakeshore Hotel | IL | Continental Fidelity Title Company | Yes | 2022-06-17 | 75000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 57000
37 | Verimark Oak Brook Conference Hotel | IL | Continental Fidelity Title Company | Yes | 2022-06-17 | 42000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Tie-In, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 32000
38 | Verimark Puget Sound Hotel | WA | Continental Fidelity Title Company | Yes | 2022-06-14 | 58000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 44000
39 | Verimark Bellevue Executive Hotel | WA | Continental Fidelity Title Company | Yes | 2022-06-14 | 46000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 35000
40 | Verimark Pearl District Hotel | OR | Continental Fidelity Title Company | Yes | 2022-06-15 | 42000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 32000
41 | Verimark Las Vegas Convention Hotel | NV | Continental Fidelity Title Company | Yes | 2022-06-16 | 55000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 42000
42 | Verimark Arlington Executive Hotel | VA | Continental Fidelity Title Company | Yes | 2022-06-20 | 38000000 | 2006 ALTA Lender's Policy | ALTA 3.1, ALTA 9, ALTA 11, ALTA 28, Comprehensive, Usury, Revolving Credit / Future Advance | Yes | Yes | None material | Pending — Post-Closing | 28000
TOTAL | 2180000000 | 1947500 | Total Proposed Insured Amount: $2,180,000,000; Total Estimated Title Premiums: $1,947,500.00
[sheet: Survey & Flood Certification]
Property No. | Property Name | State | Existing Survey Available | Survey Date | Survey Company | Updated Survey / Recertification Required | Updated Survey Status | ALTA/NSPS Survey | FEMA Flood Zone | FEMA Map Panel Number | Special Flood Hazard Area (SFHA) | Flood Insurance Required | Flood Insurance Policy In Place | Flood Insurance Carrier | Life-of-Loan Flood Determination Vendor | Notes
1 | Palmetto Grand Resort & Spa | FL | Yes | 2019-11-15 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 15, 2022 | Yes | Zone AE | 12086C0870L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL property; in SFHA Zone AE; flood insurance confirmed in place
2 | Palmetto Seaside Inn | FL | Yes | 2020-01-10 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 15, 2022 | Yes | Zone VE | 12011C0340M | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | High-velocity coastal flood zone; elevated structure; flood insurance compliant
3 | Palmetto Sunset Beach Hotel | FL | Yes | 2019-10-20 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 14, 2022 | Yes | Zone AE | 12115C0425L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; SFHA Zone AE; flood insurance in place
4 | Palmetto Bay Harbor Resort | FL | Yes | 2020-02-05 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 15, 2022 | Yes | Zone AE | 12086C0890L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
5 | Palmetto Key West Waterfront Hotel | FL | Yes | 2019-12-01 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 16, 2022 | Yes | Zone VE | 12087C0210M | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | High-velocity coastal zone; flood insurance in place
6 | Palmetto Clearwater Beach Resort | FL | Yes | 2020-03-10 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 14, 2022 | Yes | Zone AE | 12103C0320L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
7 | Palmetto Naples Bayside Inn | FL | Yes | 2019-09-25 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 15, 2022 | Yes | Zone AE | 12021C0560L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
8 | Palmetto Daytona Shores Hotel | FL | Yes | 2020-01-20 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 13, 2022 | Yes | Zone AE | 12127C0410L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
9 | Palmetto Jacksonville Beach Resort | FL | Yes | 2020-02-15 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 14, 2022 | Yes | Zone AE | 12031C0630L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
10 | Palmetto Palm Beach Oceanfront Hotel | FL | Yes | 2019-11-30 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 15, 2022 | Yes | Zone VE | 12099C0710M | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | High-velocity coastal zone; flood insurance in place
11 | Palmetto St. Augustine Coastal Inn | FL | Yes | 2020-03-05 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 14, 2022 | Yes | Zone AE | 12109C0280L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
12 | Palmetto Destin Harbor Hotel | FL | Yes | 2020-01-05 | Meridian Land Surveyors Inc. | Yes | Ordered — expected by July 16, 2022 | Yes | Zone AE | 12091C0350L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal FL; flood insurance in place
13 | Verimark Midtown Hotel & Conference Center | NY | Yes | 2020-02-01 | Atlas Survey Group LLC | Yes | Recertification ordered — expected by July 12, 2022 | Yes | Zone X | 36061C0058F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA; no flood insurance required
14 | Verimark SoHo Boutique Hotel | NY | Yes | 2020-02-10 | Atlas Survey Group LLC | Yes | Recertification ordered — expected by July 12, 2022 | Yes | Zone X | 36061C0062F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
15 | Verimark Brooklyn Heights Hotel | NY | Yes | 2020-03-01 | Atlas Survey Group LLC | Yes | Recertification ordered — expected by July 13, 2022 | Yes | Zone X | 36047C0285F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
16 | Verimark White Plains Executive Suites | NY | Yes | 2020-01-15 | Atlas Survey Group LLC | Yes | Recertification ordered — expected by July 14, 2022 | Yes | Zone X | 36119C0160F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
17 | Verimark Long Island Conference Resort | NY | Yes | 2020-04-01 | Atlas Survey Group LLC | Yes | Recertification ordered — expected by July 13, 2022 | Yes | Zone X | 36059C0180F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
18 | Verimark Albany Capitol Hotel | NY | Yes | 2020-03-20 | Atlas Survey Group LLC | Yes | Recertification ordered — expected by July 14, 2022 | Yes | Zone X | 36001C0120F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
19 | Verimark Pacific Heights Hotel | CA | Yes | 2019-08-20 | Pacific Boundary Surveyors Corp. | Yes | Ordered — expected by July 10, 2022 | Yes | Zone X | 06075C0050G | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
20 | Verimark Beverly Hills Hotel & Spa | CA | Yes | 2019-09-15 | Pacific Boundary Surveyors Corp. | Yes | Ordered — expected by July 10, 2022 | Yes | Zone X | 06037C1645F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
21 | Verimark San Diego Bayfront Hotel | CA | Yes | 2019-10-05 | Pacific Boundary Surveyors Corp. | Yes | Ordered — expected by July 11, 2022 | Yes | Zone AE | 06073C1620G | Yes | Yes | Yes | Pacific Rim Flood Underwriters Inc. | National Flood Data Services LLC | Bayfront property; in SFHA; flood insurance in place
22 | Verimark Napa Valley Resort & Vineyard | CA | Yes | 2019-11-10 | Pacific Boundary Surveyors Corp. | Yes | Ordered — expected by July 12, 2022 | Yes | Zone X | 06055C0340G | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
23 | Verimark Santa Monica Beach Hotel | CA | Yes | 2019-08-30 | Pacific Boundary Surveyors Corp. | Yes | Ordered — expected by July 11, 2022 | Yes | Zone AE | 06037C1580F | Yes | Yes | Yes | Pacific Rim Flood Underwriters Inc. | National Flood Data Services LLC | Coastal property; in SFHA; flood insurance in place
24 | Verimark Galleria Suites | TX | Yes | 2020-01-05 | Lone Star Survey Group LLC | Yes | Ordered — expected by July 13, 2022 | Yes | Zone X | 48201C0680L | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
25 | Verimark Dallas Uptown Hotel | TX | Yes | 2020-02-10 | Lone Star Survey Group LLC | Yes | Ordered — expected by July 13, 2022 | Yes | Zone X | 48113C0350L | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
26 | Verimark Austin Lakeline Resort | TX | Yes | 2020-01-20 | Lone Star Survey Group LLC | Yes | Ordered — expected by July 14, 2022 | Yes | Zone X | 48453C0420L | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
27 | Verimark San Antonio Riverwalk Hotel | TX | Yes | 2020-03-01 | Lone Star Survey Group LLC | Yes | Ordered — expected by July 14, 2022 | Yes | Zone AE | 48029C0560L | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Riverwalk property; in SFHA; flood insurance in place
28 | Verimark Buckhead Hotel | GA | Yes | 2020-04-15 | Southern Boundary Surveyors Inc. | Yes | Ordered — expected by July 12, 2022 | Yes | Zone X | 13121C0240F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
29 | Verimark Savannah Historic District Inn | GA | Yes | 2020-03-25 | Southern Boundary Surveyors Inc. | Yes | Ordered — expected by July 13, 2022 | Yes | Zone AE | 13051C0180F | Yes | Yes | Yes | Gulf Coast Flood Insurance Co. | National Flood Data Services LLC | Coastal GA; in SFHA; flood insurance in place
30 | Verimark Augusta National Hotel | GA | Yes | 2020-05-01 | Southern Boundary Surveyors Inc. | Yes | Ordered — expected by July 13, 2022 | Yes | Zone X | 13245C0290F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
31 | Verimark Mountain Lodge | CO | Yes | 2020-02-20 | Rocky Mountain Surveying Corp. | Yes | Ordered — expected by July 11, 2022 | Yes | Zone X | 08031C0420G | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
32 | Verimark Aspen Ski Resort Hotel | CO | Yes | 2019-12-10 | Rocky Mountain Surveying Corp. | Yes | Ordered — expected by July 12, 2022 | Yes | Zone X | 08097C0180G | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
33 | Verimark Colorado Springs Garden Hotel | CO | Yes | 2020-01-25 | Rocky Mountain Surveying Corp. | Yes | Ordered — expected by July 12, 2022 | Yes | Zone X | 08041C0350G | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
34 | Verimark Desert Springs Resort | AZ | Yes | 2020-03-15 | Southwest Land Surveying LLC | Yes | Ordered — expected by July 11, 2022 | Yes | Zone X | 04013C2340L | No | No | N/A | N/A | National Flood Data Services LLC | Arid zone; no flood risk
35 | Verimark Sedona Red Rock Hotel | AZ | Yes | 2020-04-01 | Southwest Land Surveying LLC | Yes | Ordered — expected by July 12, 2022 | Yes | Zone X | 04025C0180L | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
36 | Verimark Lakeshore Hotel | IL | Yes | 2020-01-10 | Great Lakes Survey Associates Inc. | Yes | Ordered — expected by July 13, 2022 | Yes | Zone X | 17031C0580J | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
37 | Verimark Oak Brook Conference Hotel | IL | Yes | 2020-02-25 | Great Lakes Survey Associates Inc. | Yes | Ordered — expected by July 14, 2022 | Yes | Zone X | 17043C0290J | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
38 | Verimark Puget Sound Hotel | WA | Yes | 2019-09-05 | Cascade Survey Associates LLC | Yes | Ordered — expected by July 14, 2022 | Yes | Zone AE | 53033C0901F | Yes | Yes | Yes | Pacific Rim Flood Underwriters Inc. | National Flood Data Services LLC | Waterfront property; in SFHA; flood insurance in place
39 | Verimark Bellevue Executive Hotel | WA | Yes | 2019-10-15 | Cascade Survey Associates LLC | Yes | Ordered — expected by July 14, 2022 | Yes | Zone X | 53033C0650F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
40 | Verimark Pearl District Hotel | OR | Yes | 2020-01-20 | Pacific Northwest Survey Co. | Yes | Ordered — expected by July 15, 2022 | Yes | Zone X | 41051C0320G | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
41 | Verimark Las Vegas Convention Hotel | NV | Yes | 2020-03-15 | Desert Mapping & Survey Co. | No | Existing survey acceptable; recertification letter to be obtained | Yes | Zone X | 32003C0980G | No | No | N/A | N/A | National Flood Data Services LLC | Arid zone; no flood risk
42 | Verimark Arlington Executive Hotel | VA | Yes | 2020-04-10 | Commonwealth Survey Associates LLC | Yes | Ordered — expected by July 15, 2022 | Yes | Zone X | 51013C0180F | No | No | N/A | N/A | National Flood Data Services LLC | Not in SFHA
SUMMARY | Properties in SFHA: 17 | Flood Insurance Required: 17 | Flood Insurance Confirmed: 17 | Updated surveys ordered for 41 properties; 1 property (NV) existing survey acceptable with recertification letter
[sheet: Deliverable Status Tracker]
Property No. | Property Name | State | Mortgage Executed | Mortgage Recorded | Title Commitment Received | Title Policy Issued | Survey Updated / Recertified | Flood Determination Completed | Flood Insurance Confirmed | All Deliverables Complete | Responsible Party | Target Completion Date | Actual Completion Date | Notes
1 | Palmetto Grand Resort & Spa | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track for post-closing deadline
2 | Palmetto Seaside Inn | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
3 | Palmetto Sunset Beach Hotel | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
4 | Palmetto Bay Harbor Resort | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
5 | Palmetto Key West Waterfront Hotel | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
6 | Palmetto Clearwater Beach Resort | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
7 | Palmetto Naples Bayside Inn | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
8 | Palmetto Daytona Shores Hotel | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
9 | Palmetto Jacksonville Beach Resort | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
10 | Palmetto Palm Beach Oceanfront Hotel | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
11 | Palmetto St. Augustine Coastal Inn | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
12 | Palmetto Destin Harbor Hotel | FL | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | On track
13 | Verimark Midtown Hotel & Conference Center | NY | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | CEMA structure under review to minimize NY mortgage recording tax
14 | Verimark SoHo Boutique Hotel | NY | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | CEMA under review
15 | Verimark Brooklyn Heights Hotel | NY | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
16 | Verimark White Plains Executive Suites | NY | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
17 | Verimark Long Island Conference Resort | NY | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
18 | Verimark Albany Capitol Hotel | NY | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
19 | Verimark Pacific Heights Hotel | CA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
20 | Verimark Beverly Hills Hotel & Spa | CA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
21 | Verimark San Diego Bayfront Hotel | CA | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | Bayfront; flood insurance confirmed
22 | Verimark Napa Valley Resort & Vineyard | CA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
23 | Verimark Santa Monica Beach Hotel | CA | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | Coastal; flood insurance confirmed
24 | Verimark Galleria Suites | TX | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
25 | Verimark Dallas Uptown Hotel | TX | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
26 | Verimark Austin Lakeline Resort | TX | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
27 | Verimark San Antonio Riverwalk Hotel | TX | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | Riverwalk; flood insurance confirmed
28 | Verimark Buckhead Hotel | GA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
29 | Verimark Savannah Historic District Inn | GA | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | Historic preservation easement review pending; flood insurance confirmed
30 | Verimark Augusta National Hotel | GA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
31 | Verimark Mountain Lodge | CO | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
32 | Verimark Aspen Ski Resort Hotel | CO | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
33 | Verimark Colorado Springs Garden Hotel | CO | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
34 | Verimark Desert Springs Resort | AZ | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
35 | Verimark Sedona Red Rock Hotel | AZ | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
36 | Verimark Lakeshore Hotel | IL | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
37 | Verimark Oak Brook Conference Hotel | IL | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
38 | Verimark Puget Sound Hotel | WA | Yes | Pending | Yes | Pending | Pending | Yes | Yes | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | Waterfront; flood insurance confirmed
39 | Verimark Bellevue Executive Hotel | WA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
40 | Verimark Pearl District Hotel | OR | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
41 | Verimark Las Vegas Convention Hotel | NV | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05 | Existing survey acceptable with recertification letter
42 | Verimark Arlington Executive Hotel | VA | Yes | Pending | Yes | Pending | Pending | Yes | N/A | No | Daniel Obi / C&H; Continental Fidelity Title Company | 2022-08-05
SUMMARY | Executed: 42 | Pending: 42 | Received: 42 | Pending: 42 | Pending: 42 | Completed: 42 | Confirmed: 17; N/A: 25 | Complete: 0 / 42 | % Complete: 0%. All deliverables pending post-closing; target: August 5, 2022