8. Representations and Warranties. Owner represents and warrants to Starwood that, as at the date of this Letter of Intent, (i) Owner owns the freehold or leasehold interest in all real property on which the Hotel would be constructed and (ii) Owner’s negotiations with Starwood under this Letter of Intent do not and will not breach or otherwise conflict with any other legal or contractual obligation of Owner. In entering into this Letter of Intent and, if applicable, the Definitive Agreements, Owner does not and will not rely on, and will have no remedy in respect of, any statement, representation, warranty or understanding unless it is expressly included in the Definitive Agreements as a representation, warranty or guarantee.