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(c) <br />Baggage Storage <br />(d) <br />Elevators <br />(e) <br />24-hour Pantry Market <br />(f) <br />Multi -Lingual Staff <br />(g) <br />Safety Deposit Box <br />(h) <br />ATM <br />5.12.3 Developer will use best efforts to execute an operating agreement with an <br />established Hotel Chain. If Developer is unsuccessful in securing an Agreement with an <br />established Hotel Chain Operator then Developer shall self -operate the Hotel in accordance with <br />Good Industry Practices for a hotel. Hotel operations shall be subject to the Hotel Operating <br />Agreement attached hereto as Exhibit "I". <br />(a) Within 120 days of execution of this Agreement, Developer shall <br />provide City either a copy of a letter of interest from a recognized hotel operator or a detailed <br />Alternative Management Plan for the operation of the Hotel. <br />(b) City may request additional information or documentation for the <br />Alternative Management Plan; and Developer shall provide said requested information or <br />documentation. <br />(e) Within ninety (90) days of City's approval of the construction <br />drawings, Developer shall provide either proof of Hotel Operator Commitment or proof of <br />sufficient financing to implement the Alternative Management Plan. <br />5.12.4 Hotel Conversion. The Developer shall only be entitled to submit an <br />application to City to convert the hotel to apartments if any of the following thresholds are <br />established: <br />(a) On the Third Hotel Anniversary Date, if for the period between the <br />Second Hotel Anniversary Date through the day before the Third Hotel Anniversary the RevPAR <br />falls below $125.00. <br />(b) On the Fourth Hotel Anniversary Date, if for the period between the <br />Third Hotel Anniversary Date through the day before the Fourth Hotel Anniversary the RevPAR <br />falls below $125.00. <br />(c) On the Fifth Hotel Anniversary Date if for the period between the <br />Fourth Hotel Anniversary Date through the day before the Fifth Hotel Anniversary the RevPAR <br />falls below $125.00. <br />34 <br />55394.00049\33239203.12 <br />