Exhibit 10.8.2

Prepared by and return to:
Lee E. Nelson, Esq.
P. O. Box 380
Tampa FL 33601

FIRST AMENDMENT TO PARCEL F DEVELOPMENT AGREEMENT

THIS FIRST AMENDMENT TO PARCEL F DEVELOPMENT AGREEMENT (this "First Amendment") is made as of the 11th day of March, 2005, by and among, PARCEL F,
LLC, a Florida limited liability company, formerly known as Innisbrook F, LLC ("Parcel F Purchaser") andGOLF HOST
RESORTS, INC., a Colorado corporation ("Golf Host") and is consented to byGOLF TRUST OF AMERICA, L.P., a Delaware
limited partnership ("GTA").

THE
PARTIES ENTER THIS AGREEMENT on the basis of the following facts,



NOW,
THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable consideration the receipt of which and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

1.Mill Ridge Road.Exhibit E to the Development Agreement is deleted in its entirety and
Exhibit E to this Amendment [U.S. Surveyor dated November 18, 2004] is inserted as Exhibit E to the Development Agreement. The parties agree that the legal
description contained in revised Exhibit E is a general description of Mill Ridge Road and in the event of any discrepancy between the legal description contained in Exhibit E and the
actual physical location of Mill Ridge Road, the physical location of Mill Ridge Road controls.

2.Parcel F Access Road Legal Description.Exhibit F to the Development Agreement is deleted in its
entirety and Exhibit F to this Amendment [King Engineering dated March 11, 2005] is inserted as Exhibit F to the Development Agreement.

3.Full Force and Effect.Except as expressly provided herein, all other terms and conditions of the Development
Agreement remain the same and in full force and effect.

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IN
WITNESS WHEREOF, the undersigned have executed this Agreement the day and year first above written.

|SIGNED, SEALED AND DELIVERED
in the Presence of: |  | PARCEL F, LLC,a Florida limited liability corporation, formerly known as Innisbrook F, LLC
|------------------------------------------------ |  | ------------------------------------------------------------------------------------------
|                                                 |  | By:                                                                                       
|Print Name:                                      |  |                                                                                           
|                                                 |  |                                                                                           
|Print Name:                                      |  |                                                                                           
|                                                 |  |                                                                                           
|                                                 |  | By:                                                                                       
|Print Name:                                      |  |                                                                                           
|                                                 |  |                                                                                           
|Print Name:                                      |  |                                                                                           

2

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The
undersigned hereby consents to this Agreement, subject to and in accordance with, the terms of this First Amendment and all of the exhibits thereto.

|                                                 |  |     | GOLF TRUST OF AMERICA, L.P.,a Delaware limited partnership
|------------------------------------------------ |  | --- | ----------------------------------------------------------
|SIGNED, SEALED AND DELIVERED
in the Presence of: |  | By: | GTA GP, INC., a Maryland corporation                      
|                                                 |  | By: | /s/W. BRADLEY BLAIR, II                                   
|Print Name:                                      |  |     | Name: W. Bradley Blair, II
Its: President and CEO         
|                                                 |  |     |                                                           
|Print Name:                                      |  |     |                                                           

3

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STATE
OF FLORIDA
COUNTY OF HILLSBOROUGH

The
foregoing instrument was acknowledged before me this 5th day of April, 2005, by Steven M. Samaha, as member ofPARCEL F, LLC, formerly
known as Innisbrook F, LLC, a Florida limited liability corporation, on behalf of the company. He/she is personally known to me.

| |            
| | -----------
| | Print Name:

| | My Commission Expires: | 
| | ---------------------- | 
| | (NOTARY SEAL)          | 

4

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STATE
OF Georgia
COUNTY OF Cobb

The
foregoing instrument was acknowledged before me this 13th day of April, 2005, by Robert Geimer, as Vice President ofGOLF HOST RESORTS,
LLC, a Colorado corporation, on behalf of the corporation. He/she is personally known to me.

| |            
| | -----------
| | Print Name:

| | My Commission Expires: | 
| | ---------------------- | 
| | (NOTARY SEAL)          | 

5

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STATE
OF SOUTH CAROLINA
COUNTY OF CHARLESTON

The
foregoing instrument was acknowledged before me this 11th day of March, 2005, by W. Bradley Blair, II, as President and CEO ofGTA
GP, INC., the general partner ofGOLF TRUST OF AMERICA, L.P., a Delaware limited partnership, on behalf of the
partnership. He/she is personally known to me.

| |            
| | -----------
| | Print Name:

| | My Commission Expires: | 
| | ---------------------- | 
| | (NOTARY SEAL)          | 

6

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