Exhibit 10.164

IN WITNESS WHEREOF, Indemnitor has executed and delivered this Environmental Indemnity Agreement under seal as of the day and year first above written. INDEMNITOR: GUARANTOR: Lodging Fund REIT III OP, LP, a Delaware limited partnership, By: Lodging Fund REIT III, Inc., a Maryland corporation, its General Paiiner By· Name: Samuel C. Montgomery Title: Chief Operating Officer (Signatures continue on following page) (Environmental Indemnity Agreement - Signature Page). /s/ Sam Montgomery

/s/ Sam Montgomery /s/ Sam Montgomery