Common use of Acknowledgment of Apple Fund’s Assets and Liabilities Clause in Contracts

Acknowledgment of Apple Fund’s Assets and Liabilities. The parties hereto acknowledge that Apple Fund’s assets and liabilities as of the date of this Agreement include, but are not limited to: (a) all rights, interests, duties and obligations under the Transfer Agreement, dated May 23, 2007, by and between Apple Hospitality Two, Inc., a Virginia corporation, and Apple Hospitality Five, Inc., a Virginia corporation (the “Apple Two Transfer Agreement”); and (b) all rights, interests, duties and obligations under the Transfer Agreement, dated October 5, 2007, by and between Apple Hospitality Five, Inc., Apple Fund and the Company (the “Apple Five Transfer Agreement”).