Document:

<PAGE>

                                                                 EXHIBIT 10.31.2

                                 PROMISSORY NOTE

$200,000,000.00                                               New York, New York
                                                                   June 18, 2003

         FOR VALUE RECEIVED each of the entities identified on Schedule I
attached hereto, as maker, each having its principal place of business at c/o
FelCor Lodging Trust Incorporated, 545 East John Carpenter Freeway, Suite 1300,
Irving, Texas 75062 (individually and collectively, as the context may require,
"Borrower"), hereby, jointly and severally, unconditionally promises to pay to
the order of JPMORGAN CHASE BANK, a New York banking corporation, having its
principal place of business at 270 Park Avenue, New York, New York 10017
("Lender"), or at such other place as the holder hereof may from time to time
designate in writing, the principal sum of TWO HUNDRED MILLION AND 00/100
DOLLARS ($200,000,000.00), in lawful money of the United States of America or so
much thereof as may be advanced pursuant to that certain Loan Facility
Agreement, dated as of June 18, 2003, among Borrower, FCH/DT BWI Hotel, L.L.C.,
a Delaware limited liability company and Lender (as the same may be amended,
restated, supplemented or otherwise modified from time to time, the "Loan
Agreement) with interest thereon to be computed from the date of this Note at
the Applicable Interest Rate (as defined in the Loan Agreement), and to be paid
in accordance with the terms of this Note and the Loan Agreement. All
capitalized terms not defined herein shall have the respective meanings set
forth in the Loan Agreement.

                           ARTICLE 1 - PAYMENT TERMS

         Borrower agrees to pay the principal sum of this Note and interest on
the unpaid principal sum of this Note from time to time outstanding at the rates
and at the times specified in Article 2 of the Loan Agreement and the
outstanding balance of the principal sum of this Note and all accrued and unpaid
interest thereon shall be due and payable on the Maturity Date.

                      ARTICLE 2 - DEFAULT AND ACCELERATION

         The Debt shall without notice become immediately due and payable at the
option of Lender if any payment required in this Note is not paid on or prior to
the date when due or if not paid on the Maturity Date or on the happening of any
other Event of Default and in addition, Lender shall be entitled to receive
interest on the entire unpaid principal sum at the Default Rate pursuant to the
terms of the Loan Agreement. This Article 2, however, shall not be construed as
an agreement or privilege to extend the date of the payment of the Debt, nor as
a waiver of any other right or remedy accruing to Lender by reason of the
occurrence of any Event of Default.

                           ARTICLE 3 - LOAN DOCUMENTS

         This Note is secured by the IDOT Guaranty, each Security Instrument and
the other Loan Documents. All of the terms, covenants and conditions contained
in the Loan Agreement, each Security Instrument and the other Loan Documents are
hereby made part of this Note to the same extent and with the same force as if
they were fully set forth herein. In the event of a conflict or inconsistency
between the terms of this Note and the Loan Agreement, the terms and provisions
of the Loan Agreement shall govern.

<PAGE>

                           ARTICLE 4 - SAVINGS CLAUSE

         This Note and the Loan Agreement are subject to the express condition
that at no time shall Borrower be obligated or required to pay interest on the
principal balance of the Loan at a rate in excess of the Maximum Legal Rate. If,
by the terms of this Note, the Loan Agreement or the other Loan Documents,
Borrower is at any time required or obligated to pay interest on the principal
balance due hereunder at a rate in excess of the Maximum Legal Rate, the
Applicable Interest Rate or the Default Rate, as the case may be, shall be
deemed to be immediately reduced to the Maximum Legal Rate and all previous
payments in excess of the Maximum Legal Rate shall be deemed to have been
payments in reduction of principal and not on account of the interest due
hereunder. All sums paid or agreed to be paid to Lender for the use,
forbearance, or detention of the sums due under the Loan, shall, to the extent
permitted by applicable law, be amortized, prorated, allocated, and spread
throughout the full stated term of the Loan until payment in full so that the
rate or amount of interest on account of the Loan does not exceed the Maximum
Legal Rate of interest from time to time in effect and applicable to the Loan
for so long as the Loan is outstanding.

                           ARTICLE 5 - NO ORAL CHANGE

         This Note may not be modified, amended, waived, extended, changed,
discharged or terminated orally or by any act or failure to act on the part of
Borrower or Lender, but only by an agreement in writing signed by the party
against whom enforcement of any modification, amendment, waiver, extension,
change, discharge or termination is sought.

                              ARTICLE 6 - WAIVERS

         Borrower and all others who may become liable for the payment of all or
any part of the Debt do hereby severally waive presentment and demand for
payment, notice of dishonor, notice of intention to accelerate, notice of
acceleration, protest and notice of protest and non-payment and all other
notices of any kind. No release of any security for the Debt or extension of
time for payment of this Note or any installment hereof, and no alteration,
amendment or waiver of any provision of this Note, the Loan Agreement or the
other Loan Documents made by agreement between Lender or any other Person shall
release, modify, amend, waive, extend, change, discharge, terminate or affect
the liability of Borrower, and any other Person who may become liable for the
payment of all or any part of the Debt, under this Note, the Loan Agreement or
the other Loan Documents. No notice to or demand on Borrower shall be deemed to
be a waiver of the obligation of Borrower or of the right of Lender to take
further action without further notice or demand as provided for in this Note,
the Loan Agreement or the other Loan Documents. If Borrower is a partnership,
the agreements herein contained shall remain in force and be applicable,
notwithstanding any changes in the individuals or entities comprising the
partnership, and the term "Borrower," as used herein, shall include any
alternate or successor partnership, but any predecessor partnership and their
partners shall not thereby be released from any liability. If Borrower is a
corporation, the agreements contained herein shall remain in full force and be
applicable notwithstanding any changes in the shareholders comprising, or the
officers and directors relating to, the corporation, and the term "Borrower" as
used herein, shall include any alternative or successor corporation, but any
predecessor corporation shall not be relieved of liability hereunder. If
Borrower is a limited liability company, the agreements herein contained

                                      -2-

<PAGE>

shall remain in force and be applicable, notwithstanding any changes in the
members comprising the limited liability company, and the term "Borrower" as
used herein, shall include any alternate or successor limited liability company,
but any predecessor limited liability company and their members shall not
thereby be released from any liability. (Nothing in the foregoing sentence shall
be construed as a consent to, or a waiver of, any prohibition or restriction on
transfers of interests in such partnership, corporation or limited liability
company which may be set forth in the Loan Agreement, each Security Instrument
or any other Loan Document.) If Borrower consists of more than one person or
party, the obligations and liabilities of each such person or party shall be
joint and several.

                              ARTICLE 7 - TRANSFER

         Upon the transfer of this Note, Borrower hereby waiving notice of any
such transfer, Lender may deliver all the collateral mortgaged, granted, pledged
or assigned pursuant to the Loan Documents, or any part thereof, to the
transferee who shall thereupon become vested with all the rights herein or under
applicable law given to Lender with respect thereto, and upon assumption of
Lender's obligations under the Loan Documents, Lender shall thereafter forever
be relieved and fully discharged from any liability or responsibility in the
matter; but Lender shall retain all rights hereby given to it with respect to
any liabilities and the collateral not so transferred.

                            ARTICLE 8 - EXCULPATION

         Notwithstanding anything to the contrary contained in this Note, the
liability of Borrower to pay the Debt and for the performance of the other
agreements, covenants and obligations contained herein and in the Security
Instruments, the Loan Agreement and the other Loan Documents shall be limited as
set forth in Section 9.4 of the Loan Agreement.

                           ARTICLE 9 - GOVERNING LAW

         This Note shall be governed in accordance with the terms and provisions
of Section 10.3 of the Loan Agreement.

                              ARTICLE 10 - NOTICES

         All notices or other written communications hereunder shall be
delivered in accordance with Section 10.6 of the Loan Agreement.

                         [NO FURTHER TEXT ON THIS PAGE]

                                      -3-

<PAGE>

         IN WITNESS WHEREOF, Borrower has duly executed this Note as of the day
and year first above written.

                                        FELCOR/JPM ATLANTA CP HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

                                        FELCOR/JPM ATLANTA ES HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

                                        FELCOR/JPM AUSTIN HOLDINGS, L.P., a
                                        Delaware limited partnership

                                        By:  FELCOR/JPM AUSTIN HOTEL, L.L.C., a
                                             Delaware limited liability
                                             company, its general partner

                                             By: /s/ Joel M. Eastman
                                                 ------------------------------
                                                 Joel M. Eastman
                                                 Vice President

                                        FELCOR/JPM BWI HOTEL, L.L.C., a Delaware
                                        limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

<PAGE>

                                        FELCOR/JPM MANDALAY HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

                                        FELCOR/JPM NASHVILLE HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

                                        FELCOR/JPM ORLANDO HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

                                        FELCOR/JPM PHOENIX HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

                                        FELCOR/JPM WILMINGTON HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

<PAGE>

                                   SCHEDULE I

1.   FelCor/JPM Atlanta CP Hotel, L.L.C., a Delaware limited liability company

2.   FelCor/JPM Atlanta ES Hotel, L.L.C., a Delaware limited liability company

3.   FelCor/JPM Austin Holdings, L.P., a Delaware limited partnership

4.   FelCor/JPM BWI Hotel, L.L.C., a Delaware limited liability company

5.   FelCor/JPM Mandalay Hotel, L.L.C., a Delaware limited liability company

6.   FelCor/JPM Nashville Hotel, L.L.C., a Delaware limited liability company

7.   FelCor/JPM Orlando Hotel, L.L.C., a Delaware limited liability company

8.   FelCor/JPM Phoenix Hotel, L.L.C., a Delaware limited liability company

9.   FelCor/JPM Wilmington Hotel, L.L.C., a Delaware limited liability company<PAGE>

                                                                 EXHIBIT 10.31.3

             FIRST AMENDMENT TO NOTE, LOAN AGREEMENT, ENVIRONMENTAL
                  INDEMNITY AGREEMENT AND OTHER LOAN DOCUMENTS

         FIRST AMENDMENT TO NOTE, LOAN AGREEMENT, ENVIRONMENTAL INDEMNITY
AGREEMENT AND OTHER LOAN DOCUMENTS (this "Amendment") made the 31st day of July,
2003, by each of the entities identified on Schedule I attached hereto, each
having its principal place of business at c/o FelCor Lodging Trust Incorporated,
545 East John Carpenter Freeway, Suite 1300, Irving, Texas 75062 (individually
and collectively, as the context may require, "Original Owner"), each of the
entities identified on Schedule II attached hereto, each having its principal
place of business at c/o FelCor Lodging Trust Incorporated, 545 East John
Carpenter Freeway, Suite 1300, Irving, Texas 75062 (individually and
collectively, as the context may require, "Original Operating Lessee") (Original
Owner and Original Operating Lessee, individually and collectively, as the
context may require, "Original Loan Party"), each of the entities identified on
Schedule III attached hereto, each having its principal place of business at c/o
FelCor Lodging Trust Incorporated, 545 East John Carpenter Freeway, Suite 1300,
Irving, Texas 75062 (individually and collectively, as the context may require,
"Additional Owner"), each of the entities identified on Schedule IV attached
hereto, each having its principal place of business at c/o FelCor Lodging Trust
Incorporated, 545 East John Carpenter Freeway, Suite 1300, Irving, Texas 75062
(individually and collectively, as the context may require, "Substitute
Operating Lessee") (Additional Owner and Substitute Operating Lessee,
individually and collectively, as the context may require, "Additional Loan
Party"), FELCOR LODGING LIMITED PARTNERSHIP, a Delaware limited partnership,
having its principal place of business at c/o FelCor Lodging Trust Incorporated,
545 East John Carpenter Freeway, Suite 1300, Irving, Texas 75062 ("FelCor
Lodging"; Original Loan Party, FelCor Lodging and Additional Loan Party
hereinafter referred to, individually and collectively, as the context may
require, as "Loan Party"), and JPMORGAN CHASE BANK, a New York banking
corporation, having its principal place of business at 270 Park Avenue, New
York, New York 10017 ("Lender").

                                    RECITALS:

         Lender has made a loan (the "Loan") to Original Owner and FELCOR/JPM
BWI HOTEL, L.L.C., a Delaware limited liability company ("FelCor BWI"; together
with Original Owner (other than FELCOR HOTEL ASSET COMPANY, L.L.C.),
individually and collectively, as the context may require, "Original Borrower")
in the principal amount of TWO HUNDRED MILLION AND 00/100 DOLLARS
($200,000,000.00), or so much thereof as may be advanced pursuant to a Loan
Facility Agreement, dated June 18, 2003, among Original Borrower, FCH/DT BWI
HOTEL, L.L.C., a Delaware limited liability company ("FCH BWI") and Lender (as
the same may be amended, restated, replaced, supplemented or otherwise modified
from time to time, the "Loan Agreement"), which Loan is evidenced by the Note
and secured by, among other things, the Security Instruments. The Loan is
further secured or evidenced by that certain (a) Environmental Indemnity
Agreement, dated June 18, 2003, given by Original Loan Party and FelCor Lodging
(individually and collectively, as the context may require, "Indemnitor") to
Lender (the "Environmental Indemnity") and (b) Environmental Indemnity Agreement
(Maryland), dated June 18, 2003, given by FCH/DT BWI Holdings, L.P., a Delaware
limited partnership, FCH BWI, FCH/DT Leasing, L.L.C., a Delaware limited

<PAGE>

liability company and FelCor Lodging (individually and collectively, as the
context may require, "Maryland Indemnitor") to Lender (the "Maryland
Environmental Indemnity").

         On the date hereof and pursuant to Section 2.9 of the Loan Agreement,
Additional Owner and Substitute Operating Lessee are being added as additional
Borrowers and substitute Operating Lessees, respectively, under the Loan
Agreement. Loan Party and Lender have agreed in the manner hereinafter set forth
to modify the terms and provisions of the Note, the Loan Agreement, the
Environmental Indemnity, the Maryland Environmental Indemnity and the other Loan
Documents to reflect the foregoing. All capitalized terms not otherwise defined
herein shall have the meaning ascribed to them in the Loan Agreement.

         In consideration of the foregoing and other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
consent and agree as follows:

         1.       Additional Owner does hereby, jointly and severally, assume
the Debt and all of the Obligations and agrees to pay the principal sum of the
Loan together with interest at the applicable interest rate in accordance with
the terms of the Loan Documents, as modified, and to observe, comply with and
perform all of the terms, covenants, conditions and indemnifications of the Loan
Documents on the part of Borrower to be performed arising from and after the
date hereof, as modified, with the same force and effect as if the Loan
Documents had originally been executed by Additional Owner. Additional Owner
hereby ratifies and confirms to Lender as of the date hereof that, except as
otherwise expressly and specifically modified by this Amendment, all of the
terms, representations, warranties, covenants, indemnifications and provisions
of the Loan Documents are and shall remain in full force and effect, and are
true and correct with respect to Additional Owner as Borrower and Indemnitor
thereunder, as of the date hereof.

         2.       Substitute Operating Lessee does hereby, jointly and
severally, agree to observe, comply with and perform all of the terms,
covenants, conditions and indemnifications of the Loan Documents on the part of
Operating Lessee to be performed arising from and after the date hereof, as
modified, with the same force and effect as if the Loan Documents had originally
been executed by Substitute Operating Lessee. Substitute Operating Lessee hereby
ratifies and confirms to Lender as of the date hereof that, except as otherwise
expressly and specifically modified by this Amendment, all of the terms,
representations, warranties, covenants, indemnifications and provisions of the
Loan Documents are and shall remain in full force and effect, and are true and
correct with respect to Substitute Operating Lessee as Operating Lessee and
Indemnitor thereunder, as of the date hereof.

         3.       Original Borrower and Additional Owner confirm that they are
jointly and severally liable for the payment in full of the Loan and all other
sums owing under any of the Loan Documents and the performance of all of the
Obligations. Notwithstanding anything to the contrary contained in this
Amendment, the liability of Original Borrower and Additional Owner, as Borrower
under the Loan Agreement, to pay the Debt and for the performance of the other
agreements, covenants and obligations contained herein and in the Note, the
Security Instruments, the Loan Agreement and the other Loan Documents shall be
limited as set forth in Section 9.4 of the Loan Agreement.

         4.       The Loan Documents are modified such that:

                                      -2-

<PAGE>

                  (a)      Wherever the term "Borrower" appears in the Loan
Documents, it shall be deemed to include Additional Owner; and

                  (b)      Wherever the term "Operating Lessee" appears in the
Loan Documents, it shall be deemed to mean Substitute Operating Lessee.

         5.       The Environmental Indemnity is modified such that:

                  (a)      Wherever the term "Indemnitor" appears in the
Environmental Indemnity, it shall be deemed to include Additional Loan Party;

                  (b)      Wherever the term "Owner" appears in the
Environmental Indemnity, it shall be deemed to include Additional Owner; and

                  (c)      Wherever the term "Operating Lessee" appears in the
Environmental Indemnity, it shall be deemed to mean Substitute Operating Lessee.

         6.       The Maryland Environmental Indemnity is modified such that:

                  (a)      Wherever the term "Indemnitor" appears in the
Maryland Environmental Indemnity, it shall be deemed to include DJONT/JPM BWI
LEASING, L.L.C., a Delaware limited liability company; and

                  (b)      Wherever the term "Operating Lessee" appears in the
Maryland Environmental Indemnity, it shall be deemed to mean DJONT/JPM BWI
LEASING, L.L.C., a Delaware limited liability company.

         7.       The text "two (2)" set forth in Section 2.7(a) of the Loan
Agreement entitled "INCREASING AVAILABLE FACILITY AMOUNT" is deleted in its
entirety and replaced with the text "four (4)".

         8.       Loan Party and Lender acknowledge and agree that in the event
that any of the Properties set forth on Schedule V attached hereto (the
"Proposed New Properties") are added as security for the Loan pursuant to the
terms and provisions of Section 2.7(a) of the Loan Agreement within forty-five
(45) days after the date hereof, such Proposed New Properties shall not count
towards the four (4) additional properties limitation set forth in Section
2.7(a) of the Loan Agreement. In the event that any of the Proposed New
Properties are added at any time following the aforesaid forty-five (45) day
period, such Proposed New Properties shall count towards the four (4) additional
properties limitation set forth in Section 2.7(a) of the Loan Agreement.

         9.       Except as provided in this Section 9, Lender does hereby
relieve and release FELCOR/JPM NASHVILLE HOTEL, L.L.C., a Delaware limited
liability company ("Nashville Borrower") from any and all liability or
obligation to make the payments of principal, interest or sums otherwise due
under the Loan Documents, including any accrued interest, and from any and all
liability or obligation to observe, comply with or perform any of the terms,
covenants or conditions of the Loan Documents. Notwithstanding the foregoing,
this Amendment shall not affect, impair or diminish the obligations of Nashville
Borrower to Lender under the terms of the

                                      -3-

<PAGE>

Loan Documents that expressly survive any termination or release thereunder.
Lender shall promptly release any Lien of the Security Instruments and any
related UCC Financing Statements encumbering any of the Property of Nashville
Borrower or DJONT Operations, L.L.C., a Delaware limited liability company.

         10.      Lender does hereby relieve and release Original Operating
Lessee from any and all liability or obligation to observe, comply with or
perform any of the terms, covenants or conditions of the Loan Documents. Upon
written request, Lender shall promptly release any Lien of the Security
Instruments and any related UCC Financing Statements inadvertently encumbering
any of the property of Original Operating Lessee other than the Property.

         11.      Loan Party acknowledges and agrees that, with respect to any
Conversion pursuant to Section 9.1 of the Loan Agreement whereby the resulting
Fixed Rate CMBS Loan has an original principal balance equal to or greater than
$15,000,000.00, in addition to the requirements of such Section 9.1, Loan Party
shall cause Manager to amend the Assignment of Management Agreement delivered by
such Manager to require such Manager to (i) agree that Property Account Bank
shall transfer to the Manager Account, as directed by Manager, amounts necessary
to pay (A) the Monthly Operating Expense Amount for the then current calendar
month, which such amount shall not materially deviate from the corresponding
monthly amount for Operating Expenses (less Taxes and incentive management fees)
set forth in the applicable Approved Annual Budget (i.e., to the extent by more
than fifteen (15%) percent of the quarterly amount for Operating Expenses (less
Taxes and incentive management fees) set forth in the applicable Approved Annual
Budget for the calendar quarter in which such calendar month occurs), plus (B)
any unpaid Operating Expenses (less Taxes and incentive management fees)
attributable to the then prior calendar month, (ii) acknowledge that on the
Business Day prior to the last Business Day of the then current calendar month,
the Property Account Bank will transfer all remaining funds in the Property
Account to the Lockbox Account, (iii) acknowledge and agree that all incentive
management fees for such Manager shall be paid to Manager by Borrower after all
disbursements from the Lockbox Account have been made in accordance with Section
3.7(b)(i)-(vii) of the Loan Agreement, and (iv) acknowledge and agree that,
after the occurrence of (i) and (ii) above, the Property Account may not have
sufficient funds immediately available for the payment of Operating Expenses for
the upcoming calendar month until such time as Borrower, Manager or Operating
Lessee, as the case may be, deposits all Gross Income from Operations into the
Property Account for such upcoming calendar month.

         12.      Loan Party acknowledges that, except as expressly set forth
herein, nothing contained herein shall be construed to relieve Loan Party from
its respective obligations under the Note, the Loan Agreement, the Security
Instruments, the Environmental Indemnity, the Maryland Environmental Indemnity
and the other Loan Documents.

         13.      Loan Party ratifies and confirms to Lender as of the date
F hereof that, except as otherwise expressly and specifically modified by this
Amendment, all of the terms, covenants, indemnifications and provisions of the
Note, the Loan Agreement, the Security Instruments, the Environmental Indemnity,
the Maryland Environmental Indemnity and the other Loan Documents are and shall
remain in full force and effect without change except as otherwise expressly and
specifically modified by this Amendment.

                                      -4-

<PAGE>

         14.      Loan Party represents, warrants and covenants that Loan Party
has full power, authority and legal right to execute this Amendment and to keep
and observe all of the terms of this Amendment on its part to be observed or
performed.

         15.      In the event of any conflict or ambiguity between the terms,
covenants and provisions of this Amendment and those of the Loan Agreement and
the other Loan Documents, the terms, covenants and provisions of this Amendment
shall control.

         16.      This Amendment may not be modified, amended, waived, changed
or terminated orally, but only by an agreement in writing signed by the party
against whom the enforcement of the modification, amendment, waiver, change or
termination is sought.

         17.      This Amendment shall be binding upon and inure to the benefit
of Loan Party, Lender and their respective successors and assigns.

         18.      This Amendment maybe executed in any number of duplicate
originals and each such duplicate original shall be deemed to constitute but one
and the same instrument.

         19.      If any term, covenant or condition of this Amendment shall be
held to be invalid, illegal or unenforceable in any respect, this Amendment
shall be construed without such provision.

         20.      This Amendment shall be governed by and construed in
accordance with the terms and provisions of Section 10.3 of the Loan Agreement.

                         [NO FURTHER TEXT ON THIS PAGE]

                                      -5-

<PAGE>

         IN WITNESS WHEREOF, Loan Party and Lender have executed this Amendment
the day and year first above written.

                                        ORIGINAL OWNER:

                                        FELCOR/JPM ATLANTA CP HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ---------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FELCOR/JPM ATLANTA ES HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FELCOR/JPM AUSTIN HOLDINGS, L.P., a
                                        Delaware limited partnership

                                        By:  FELCOR/JPM AUSTIN HOTEL, L.L.C., a
                                             Delaware limited liability company,
                                             its general partner

                                             By:  /s/ Joel M. Eastman
                                                  ------------------------------
                                                  Joel M. Eastman
                                                  Vice President

                                        FELCOR/JPM MANDALAY HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

<PAGE>

                                        FELCOR/JPM NASHVILLE HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FELCOR/JPM ORLANDO HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FELCOR/JPM PHOENIX HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FELCOR/JPM WILMINGTON HOTEL, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

<PAGE>

                                        ORIGINAL OPERATING LESSEE:

                                        BHR OPERATIONS, L.L.C., a Delaware
                                        limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT LEASING, L.L.C., a Delaware
                                        limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT OPERATIONS, L.L.C., a Delaware
                                        limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FCH/DT LEASING, L.L.C., a Delaware
                                        limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FCH/DT LEASING II, L.L.C., a Delaware
                                        limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

<PAGE>

                                        FELCOR/TRS HOLDINGS, L.P., a Delaware
                                        limited partnership

                                        By: FelCor TRS I, L.L.C., a Delaware
                                            limited liability company, its
                                            general partner

                                            By: /s/ Joel M. Eastman
                                                -------------------------------
                                                Joel M. Eastman
                                                Vice President

<PAGE>

                                        FELCOR LODGING:

                                        FELCOR LODGING LIMITED PARTNERSHIP, a
                                        Delaware limited partnership

                                        By:  FELCOR LODGING TRUST INCORPORATED,
                                             a Maryland corporation, its general
                                             partner

                                             By:  /s/ Joel M. Eastman
                                                  -----------------------------
                                                  Joel M. Eastman
                                                  Vice President

                                        FELCOR BWI:

                                        FELCOR/JPM BWI HOTEL, L.L.C., a Delaware
                                        limited liability company

                                        By: /s/ Joel M. Eastman
                                            ----------------------------------
                                            Joel M. Eastman
                                            Vice President

<PAGE>

                                        SUBSTITUTE OPERATING LESSEE:

                                        DJONT/JPM ATLANTA CP LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT/JPM AUSTIN LEASING, L.P., a
                                        Delaware limited partnership

                                        By:  DJONT/JPM AUSTIN TENANT CO.,
                                             L.L.C., a Delaware limited
                                             liability company, its general
                                             partner

                                             By: /s/ Joel M. Eastman
                                                 ------------------------------
                                                 Joel M. Eastman
                                                 Vice President

                                        DJONT/JPM MANDALAY LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT/JPM PHOENIX LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By: /s/ Joel M. Eastman
                                            -----------------------------------
                                            Joel M. Eastman
                                            Vice President

<PAGE>

                                        DJONT/JPM BWI LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT/JPM ORLANDO LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT/JPM WILMINGTON LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        DJONT/JPM ATLANTA ES LEASING, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

<PAGE>

                                        FCH/DT BWI HOTEL, L.L.C., a Delaware
                                        limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

                                        FCH/DT BWI HOLDINGS, L.P., a Delaware
                                        limited partnership

                                        By:  FCH/DT HOTELS, L.L.C., a Delaware
                                             limited liability company, its
                                             general partner

                                             By:  /s/ Joel M. Eastman
                                                  ------------------------------
                                                  Joel M. Eastman
                                                  Vice President

<PAGE>

                                        ACKNOWLEDGED AND AGREED:

                                        FELCOR HOTEL ASSET COMPANY, L.L.C., a
                                        Delaware limited liability company

                                        By:  /s/ Joel M. Eastman
                                             ----------------------------------
                                             Joel M. Eastman
                                             Vice President

<PAGE>

                                        LENDER:

                                        JPMORGAN CHASE BANK, a New York banking
                                        corporation

                                        By: /s/ Michael Mesard
                                            -----------------------------------
                                            Name:  Michael Mesard
                                            Title: Vice President

<PAGE>

                                   SCHEDULE I

                                 ORIGINAL OWNER

1.   FelCor/JPM Atlanta CP Hotel, L.L.C., a Delaware limited liability company

2.   FelCor/JPM Atlanta ES Hotel, L.L.C., a Delaware limited liability company

3.   FelCor/JPM Austin Holdings, L.P., a Delaware limited partnership

4.   FelCor/JPM Mandalay Hotel, L.L.C., a Delaware limited liability company

5.   FelCor/JPM Nashville Hotel, L.L.C., a Delaware limited liability company

6.   FelCor/JPM Orlando Hotel, L.L.C., a Delaware limited liability company

7.   FelCor/JPM Phoenix Hotel, L.L.C., a Delaware limited liability company

8.   FelCor/JPM Wilmington Hotel, L.L.C., a Delaware limited liability company

9.   FelCor Hotel Asset Company, L.L.C., a Delaware limited liability company(1)

----------
(1) Fee owner of the Holiday Inn Select - Orlando Airport Property. Not a
borrower under the Note but an Indemnitor under the Environmental Indemnity.

<PAGE>

                                  SCHEDULE II

                            ORIGINAL OPERATING LESSEE

1.   BHR Operations, L.L.C., a Delaware limited liability company

2.   DJONT Leasing, L.L.C., a Delaware limited liability company

3.   DJONT Operations, L.L.C., a Delaware limited liability company

4.   FCH/DT Leasing, L.L.C., a Delaware limited liability company

5.   FCH/DT Leasing II, L.L.C., a Delaware limited liability company

6.   FelCor/TRS Holdings, L.P., a Delaware limited partnership

<PAGE>

                                  SCHEDULE III

                                ADDITIONAL OWNER

1.   None.

<PAGE>

                                   SCHEDULE IV

                           SUBSTITUTE OPERATING LESSEE

1.   DJONT/JPM Atlanta CP Leasing, L.L.C., a Delaware limited liability company

2.   DJONT/JPM Austin Leasing, L.P., a Delaware limited partnership

3.   DJONT/JPM Mandalay Leasing, L.L.C., a Delaware limited liability company

4.   DJONT/JPM Phoenix Leasing, L.L.C., a Delaware limited liability company

5.   DJONT/JPM BWI Leasing, L.L.C., a Delaware limited liability company

6.   DJONT/JPM Orlando Leasing, L.L.C., a Delaware limited liability company

7.   DJONT/JPM Wilmington Leasing, L.L.C., a Delaware limited liability company

8.   DJONT/JPM Atlanta ES Leasing, L.L.C., a Delaware limited liability company

<PAGE>

                                   SCHEDULE V

                             PROPOSED NEW PROPERTIES
<TABLE>
<CAPTION>
==================================================================================================================
               Property Name                   Property Address                    County         City       State
==================================================================================================================
<S>                                       <C>                                   <C>             <C>          <C>
1  DoubleTree Guest Suites - Walt Disney  2305 Hotel Plaza Boulevard            Orange          Lake Buena    FL
   World Resort                                                                                 Vista
------------------------------------------------------------------------------------------------------------------
2  Holiday Inn Orlando International      6515 International Drive              Orange          Orlando       FL
   Drive Resort
------------------------------------------------------------------------------------------------------------------
3  Embassy Suites Hotel -  Boca Raton     661 N.W. 53rd Street                  Palm Beach      Boca Raton    FL
------------------------------------------------------------------------------------------------------------------
4  Atlanta Airport- Crowne                1325 Virginia Avenue                  14th District-  Atlanta       GA
   Plaza                                                                        Fulton
------------------------------------------------------------------------------------------------------------------
5  Holiday Inn San Antonio - Downtown     318 West Durango                      Bexar           San Antonio   TX
   (Market Square)
------------------------------------------------------------------------------------------------------------------
6  Austin Town Lake - Holiday Inn         20 North Interregional Highway (I35)  Travis          Austin        TX
------------------------------------------------------------------------------------------------------------------
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]