Exhibit 10(v)
 
AMENDMENT TO OPERATING AGREEMENT
OF
GROVE SPA, LLC,
A DELAWARE LIMITED LIABILITY COMPANY

This Amendment to Operating Agreement (the “Amendment”) is made effective as of
November 14, 2008 (the “Effective Date”) by and between Grove Hotel Partners,
LLC, a Delaware limited liability company (“GHP”) and CII Spa, LLC, a Delaware
limited liability company (“CII”) is made and entered into based upon the
following:

RECITALS
 
A. Noble House Associates, LLC, a Delaware limited liability company (“NHA”) and
CII were the original Members [as that, and all other capitalized terms not
separately defined herein, is defined in that certain Operating Agreement of
Grove Spa, LLC, a Delaware Limited Liability Company dated as of September 15,
2004 (the “Operating Agreement”)] in GROVE SPA, LLC, a Delaware Limited
Liability Company (the “Company”).
 
B. NHA, pursuant to an Assignment and Assumption of Membership Interest (the
“Assignment”) has, immediately prior to this Amendment, transferred and assigned
its Percentage Interest in the Company to GHP.
 
C. In connection with the Assignment, CII consented to the Assignment from NHA
to GHP, all in accordance with the Operating Agreement of the Company and the
procedures and requirements to transfer membership interests contained in the
Operating Agreement.
 
D.           CII and GHP wish to amend the Operating Agreement to reflect the
fact that they are now the sole Members of the Company.

NOW, THEREFORE, based on the foregoing, the Operating Agreement is hereby
amended as follows:
 
 
 
 

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1.  
The preamble and all other applicable provisions of the Operating Agreement are
amended to reflect that Grove Hotel Partners, LLC a Delaware limited liability
company (hereinafter “GHP”) has, effective November ___, 2008, pursuant to the
Assignment, as consented to by CII, and executed by NHA and GHP, all in
accordance with the Operating Agreement, become a Member in the place and stead
of NHA, and all of the rights, duties, obligations, privileges and restrictions
of the membership of NHA in the Company has been bestowed upon and assumed by
GHP, free and clear of liens and encumbrances; and an affiliate of GHP has
become the lessee under the Primary Lease; and an affiliate of GHP has become
the operator of the Spa.
 

2.  
Section 1.7(b) is amended such that GHP is and shall be the “Tax Matters
Partner,” and its address for such purpose shall be
_______________________________________________.
 

3.  
Sections 2.1, 5.1 and Schedule I are amended to reflect that GHP’s total
contributions and Percentage Interests are:
 

Capital Contributions:
Percentage Interests:
GHP:  $1,585,086.88
50%
CII:  $1,585,086.88
50%
   

4.  
The member loan reflected on Schedule 1, made pursuant to the Development
Financing Loan has been paid in full.
 

5.  
Section 12.2 is amended such that notices to GHP shall be provided to:

______________________________________
______________________________________
______________________________________
______________________________________

All other terms and conditions of the Operating Agreement remain in full force
and effect as if this Amendment did not exist.
 
 
 
 

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IN WITNESS WHEREOF, all of the Members of the Company have executed the
Amendment the day and date first above written.

“GHP”
GROVE HOTEL PARTNERS, LLC

By: /s/ John Cullen
Name: John Cullen
Title: President

“CII”
CII Spa, LLC, a Delaware limited liability company

By: ___________________________
Name:
Title:
 
 
 
 
 

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