Document:

Exhibit 10.2

                     UNSECURED SUBORDINATED PROMISSORY NOTE

US $37,000,000.00                                            _______________, __
                                                            (Place of Execution)

                                                             __________ __, 2007

      FOR VALUE RECEIVED, the [undersigned],(1) jointly and severally promise to
pay to the order of Six Flags, Inc., whose address is 1540 Broadway, 15th Floor;
New York, New York 10036 ("Holder"), the principal sum of THIRTY-SEVEN MILLION
AND NO/100 DOLLARS ($37,000,000.00), together with interest (as then in effect,
the "Interest Rate") on the outstanding principal balance from the date hereof,
until paid, at the rate of seven and one-half percent per annum until
_____________ ___, 2009 ("Period One") and at the rate of eight and one-half
percent per annum from _____________ ___, 2009 until __________ __, 2017 (the
"Maturity Date," and such period between Period One and the Maturity Date,
"Period Two"), in lawful money of the United States of America. Accrued and
unpaid interest only shall be due and payable monthly on the outstanding
principal balance at the applicable Interest Rate beginning on _________ __,
2007, and continuing on the first (1st) day of each month thereafter until the
Maturity Date. In addition, the principal shall be due and payable in
consecutive annual payments of ONE MILLION SEVEN HUNDRED THOUSAND AND NO/100TH
DOLLARS (US $1,700,000.00), on the first calendar day of __________ beginning on
__________ 1, 2008, and continuing on each anniversary thereof through and
including _________ 1, 2016, and the entire indebtedness evidenced hereby shall
be due and payable in full, together with a balloon payment of
[____________________________] ($[_____]) on the Maturity Date; provided,
however, that if the amount of the Limited Rent Guaranty (Six Flags) to be
provided by Holder in favor of the Landlords (as defined therein) under the
Leases is less than $9,999,999 (the excess of $9,999,999 over the amount of such
guaranty, the "Deferred Amount"), then payments of principal and interest under
this Note shall be deferred until such time as the total amount of deferred
payments of principal and interest equal the Deferred Amount, and the Deferred
Amount shall be added to the balloon payment due hereunder on the Maturity Date.
If any installment under this Note is due on a day that is not a Business Day
(as defined herein), such installment shall be deemed to be due and payable on
the next Business Day and such extension of time shall be taken into account in
calculating the amount of interest payable under this Note. All computation of
interest shall be made by Holder on the basis of a year of 360 days.

      At any time from the date of this Note, the undersigned may prepay the
entire or any portion of the unpaid principal balance of this Note in full or in
part on the last Business Day before a scheduled monthly payment date without
any additional payment of a prepayment fee or penalty. Upon prepayment of this
Note, the undersigned shall simultaneously pay any and all interest accrued on
this Note through and including the date of such prepayment.

      From time to time, without affecting the obligation of the undersigned or
the successors or assigns of the undersigned to pay the outstanding principal
balance of this Note and observe the covenants of the undersigned contained
herein (after any applicable notice or cure period, if any), and without
affecting the guaranty of any person, corporation, partnership or other entity
for payment of the outstanding principal balance of this Note, without giving
notice to or obtaining the consent of the undersigned, the successors or assigns
of the undersigned or guarantors, and without liability on the part of Holder,
Holder may, at the option of Holder, extend the time for payment of said
outstanding principal balance or any part thereof, reduce the payments thereon,
release anyone liable on any of said outstanding principal balance, accept a
renewal of this Note, modify the terms and time of payment of said outstanding
principal balance, join in any extension or subordination agreement, release any
security given herefor, take or release other or additional security, and agree
in writing with the undersigned to modify the rate of interest or period of
amortization of this Note or change the amount of the monthly installments
payable hereunder or otherwise modify, amend or waive any term or provision of
this Note.

      Presentment, notice of dishonor, right to set off and counterclaim, and
protest are hereby waived by the undersigned.

      Unless applicable law requires otherwise, so long as no Event of Default
(as defined below) occurs and is continuing, all payments received by Holder
under this Note shall be applied by Holder to the interest, fees and costs and
the principal (if applicable) of the Note. If an Event of Default occurs and is
continuing, Holder may apply any payments received by Holder in any amount and
in any order as Holder shall determine in Holder's sole discretion.

      Any forbearance by Holder in exercising any right or remedy under this
Note shall not be a waiver of or preclude the exercise of any right or remedy.

      Capitalized terms used herein but not defined herein have the respective
meanings given them in the Leases (as defined in Schedule A hereto).

I. DEFAULTS.

      A. Events of Default. The occurrence of any one or more of the following
events with respect to the undersigned shall constitute an event of default
hereunder (an "Event of Default"):

      (1)   Any installment under this Note is not received by Holder within
            five (5) calendar days after the due date and such default is not
            cured by the undersigned within five (5) calendar days of the
            receipt of written notice from Holder;

      (2)   The undersigned fails to observe or perform any other term of this
            Note;

      (3)   The undersigned makes any materially incorrect or misleading
            representation or warranty to Holder in connection with this Note or
            in any certificate, report, financial statement or other information
            delivered to the Holder;

      (4)   Any provision of this Note for any reason ceases to be valid and
            binding on or enforceable against the undersigned or the undersigned
            so states in writing;

      (5)   The undersigned (i) defaults in any payment of principal of or
            interest on any indebtedness or contingent obligation (other than
            its obligation under this Note) or (ii) defaults in the observance
            or performance of any agreement or condition relating to any
            indebtedness or contingent obligation (other than this Note) or
            contained in any instrument or agreement evidencing, securing or
            relating thereto, or any other event shall occur, the effect of
            which is to permit such indebtedness or contingent obligation to be
            declared due and payable or such indebtedness or contingent
            obligation shall otherwise become due or required to be prepaid
            prior to its stated maturity (determined without regard to whether
            any notice is required); provided, that it shall not constitute an
            Event of Default pursuant to clause (i) or (ii) above unless the
            aggregate principal amount of all such indebtedness or contingent
            obligations as described in clauses (i) and (ii), inclusive, exceeds
            $2,000,000 at any one time;

      (6)   One or more judgments, orders or decrees is entered against the
            undersigned involving a liability not paid or fully covered by
            insurance in excess of $2,000,000 for all such judgments and decrees
            and all such judgments or decrees shall not have been vacated,
            discharged or stayed or bonded pending appeal within sixty (60) days
            from the entry thereof;

      (7)   Any of the following occurs: (i) the merger or consolidation of the
            undersigned with or into any other person other than an affiliate of
            the undersigned, (ii) the dissolution or liquidation of the
            undersigned or (iii) the sale of all or substantially all of the
            assets of the undersigned; or

      (8)   Any of the events that may be deemed an event of default, taking
            into account all applicable cure periods, if any, in accordance with
            Section 12.1 of any of the Leases (as defined in Schedule A hereto),
            as currently in effect as of the date of this Note and any amendment
            of which in the Leases shall not be deemed to be an amendment for
            purposes of this Note, occurs, and as a result thereof, the Landlord
            under such Leases shall have declared a default.

      Holder shall deliver a written notice of any Event of Default to the
undersigned (the "Notice of Default") as soon as practicable after Holder has
knowledge of such Event of Default.

      The undersigned shall deliver to Holder a copy of any notice of default
that the undersigned receives with respect to the Leases upon its receipt
thereof.

      B. Additional Interest; Late Charge. Upon an Event of Default, the balance
of this Note shall bear additional interest equal to four percent (4%) per annum
in excess of the Interest Rate (except as hereafter provided in Section V.C
hereof) (the "Default Rate"), computed from the date the undersigned receives
the Notice of Default to the date the Event of Default is no longer continuing,
as evidenced by written notice from Holder to the undersigned; provided,
however, that if the Default Rate is in excess of the amount permitted to be
charged to the undersigned under applicable federal or state law, Holder shall
be entitled to collect additional interest at the highest rate permitted by such
law. In addition to the foregoing, upon an Event of Default pursuant to Section
I.A.(1) hereof, the undersigned shall pay to Holder a late charge equal to three
percent (3%) of each payment past due for five (5) or more calendar days, such
late charge to be immediately due and payable without demand by Holder.

      C. Acceleration. If the undersigned fails to cure any Event of Default
described in Section I.A.(1) hereof within five (5) calendar days of its receipt
of the Notice of Default or any other Event of Default within thirty (30)
calendar days of its receipt of Notice of Default, then, pursuant to written
notice to the undersigned, Holder may, at any time that such Event of Default is
continuing, accelerate this Note and declare all outstanding and unpaid
principal, interest, additional interest and late charges then due and payable,
regardless of any prior forbearance. If Holder elects to accelerate the Note,
the undersigned shall also pay to Holder all of Holder's reasonable expenses and
costs in connection with Holder's collection hereunder, including, without
limitation, reasonable attorneys' fees, court costs and expenses, including
attorneys' fees and expenses on any appeal and without relief from valuation and
appraisement laws.

II. REPRESENTATIONS

      By its execution hereof, the undersigned represents that:

         A. Authority. The undersigned has the legal capacity, power and ability
to execute and deliver this Note and to perform all of its obligations
hereunder. This Note is the legal, valid and binding obligation of the
undersigned, enforceable against the undersigned in accordance with the terms
hereof.

         B. No Conflict; Consents. The execution, delivery and performance by
the undersigned of this Note do not and will not (i) violate any law, rule or
regulation, conflict with any agreement, instrument or other document or order,
judgment, injunction or determination by which the undersigned or any of its
assets are bound or (ii) require the consent or approval of any governmental
authority or other person or entity.

III. ADDITIONAL COVENANTS.

      In addition to the covenants and agreements made in this Note, the
undersigned further covenants and agrees (and shall cause its successors or
assigns to covenant and agree) with and in favor of Holder as follows:

      A. Monthly Financial Statements. Throughout the term of this Note the
undersigned shall deliver to Holder a copy of the information delivered to the
Landlord under Section 17.2 of the Lease.

      B. Audited Financial Statements. The undersigned shall deliver to Holder
within forty-five (45) days after the end of each Fiscal Year, a profit and loss
statement, balance sheet and statement of cash flow showing results from
operations during such Fiscal Year. The aforesaid financial statements shall be
accompanied by a Certificate of the Chief Executive Officer or the Chief
Financial Officer of the undersigned (or of the undersigned's general partner or
managing member, if applicable) (an "Officer's Certificate") which, for purposes
hereof shall mean a Certificate of the Chief Executive Officer or the Chief
Financial Officer of the undersigned (which Certificate shall also be certified
by another officer, or partner or member of the undersigned) in which such
Officer shall certify to the best of such Officer's knowledge (a) that such
statements have been properly prepared in accordance with GAAP and are true,
correct and complete in all material respects and fairly present the
consolidated financial condition of the undersigned at and as of the dates
thereof and the results of its operations for the period covered thereby, and
(b) that no Event of Default has occurred and is continuing hereunder or under
the Leases. If the Holder shall determine in its reasonable discretion that the
Holder could be required to include the assets, liabilities and results of the
activities of the undersigned and their Affiliates in the consolidated financial
statements of the Holder pursuant to applicable accounting requirements and
guidance (the foregoing, a "Consolidation Determination"), then the undersigned
shall also deliver to Holder at any time and from time-to-time, upon not less
than twenty (20) days notice from Holder, any financial statements or other
financial reporting information required to be filed by Holder with the SEC or
any other governmental authority or required pursuant to any order issued by any
Governmental Agencies or arbitrator in any litigation to which Holder is a party
for purposes of compliance therewith ("Additional Information"). If the
undersigned is required to incur any additional material out of pocket costs,
fees and expenses in preparing such Additional Information other than in the
ordinary course of the undersigned's obligations hereunder, Holder shall
reimburse the undersigned for all reasonable costs, fees and expenses incurred
in such preparation. Notwithstanding the foregoing, in the event that the
undersigned's financial records are not otherwise being reviewed or audited by
an independent certified public accountant then the Holder will accept financial
statements certified true and correct by the Chief Financial Officer of the
undersigned to the best of such Officer's knowledge (or of the undersigned's
general partner or managing member, if applicable). If Holder makes a
Consolidation Determination, in connection with Holder's responsibility to
maintain effective internal controls over financial reporting and the
requirements for complying with the Sarbanes-Oxley Act of 2002 ("SOX"), the
undersigned hereby agrees to provide reasonable access to the undersigned's
books and records and properties, upon reasonable prior oral or written notice
to the undersigned and reasonable assistance necessary to Holder that will allow
Holder to conduct activities necessary to satisfy such responsibilities,
including but not limited to the activities stipulated by the Public Company
Accounting Oversight Board in its release 2004-1, or other similarly promulgated
guidance by other regulatory agencies. The undersigned shall be reimbursed its
reasonable expenses incurred for all such services and assistance requested by
Holder. Holder agrees to provide the undersigned with appropriate notice
regarding the conduct of the activities anticipated in this provision. If Holder
makes a Consolidation Determination, the undersigned agrees to provide, at
Holder's request and expense, evidence of the undersigned's documented policies,
if any, regarding "whistle-blower" procedures and regarding the reporting of
fraud or misstatements involving financial reporting of the undersigned.

      C. Records. The undersigned shall keep and maintain at all times in
accordance with GAAP (separate and apart from its other books, records and
accounts) complete and accurate up to date books and records adequate to reflect
clearly and correctly the results of operations of the undersigned. Such books
and records shall be kept and maintained at the Leased Property or the
undersigned's principal office at c/o PARC Management, LLC, 910 Phillips Street,
Jacksonville, Florida 32207. Holder or its representatives shall have, at all
reasonable times during normal business hours, reasonable access, on reasonable
advance notice, to examine and copy the undersigned's books and records and
properties. Such books and records shall be available for at least four (4)
years for Holder's inspection, copying, review and audit at Holder's expense
during reasonable business hours and upon reasonable notice.

      D. Compliance with SOX. If the Holder makes a Consolidation Determination,
the undersigned shall comply with any and all policies that Holder has
implemented in accordance with SOX, copies of all such policies to be provided
to the undersigned. In addition to the requirements contained in Section III.C.
hereof, the undersigned shall provide Holder and Holder's accountants with all
access to the undersigned's books, records, properties and personnel as Holder
or its accountants may deem reasonably necessary in order for (i) Holder to
comply with SOX, (ii) Holder's officers to provide the required certifications
under SOX and (iii) Holder to perform the necessary audits and necessary reviews
of procedures required by SOX and the rules and regulations of the SEC.

      E. No Distributions. If in any case, the net worth of the undersigned,
calculated in accordance with GAAP after the transactions contemplated herein,
is less than the Guaranteed Funding Limit (as defined in the Limited Rent
Guaranty (Six Flags), the undersigned shall not, directly or indirectly: (i)
declare or pay any dividend or make any other payment or distribution on account
of any equity interests in the undersigned or to the direct or indirect holders
of any equity interests in the undersigned in their capacity as such or (ii)
purchase, redeem or otherwise acquire or retire for value any equity interests
in the undersigned or direct or indirect parent of the undersigned, if, in any
case, the total stockholder's equity of the undersigned determined in accordance
with GAAP after giving effect to any such transactions would be less than the
total stockholder's equity of the undersigned determined in accordance with GAAP
as of the date of this Note.

      F. Limitation on Incurrence of Indebtedness. Except for liabilities
incurred in the ordinary course of business and any working capital credit
facility established by the undersigned in an amount not to exceed Twenty
Million Dollars ($20,000,000) (the "Working Capital Facility"), the undersigned
shall not create, incur, assume or guarantee, or permit to exist or become or
remain liable directly or indirectly upon, any Indebtedness except Indebtedness
of the undersigned to Landlord under the Lease and Indebtedness permitted under
the terms of any Lease. As used in this Section III.H. (and notwithstanding any
other definition of Indebtedness in the Lease), Indebtedness shall mean all
obligations, contingent or otherwise, to pay or repay monies irrespective of
whether, in accordance with GAAP, such obligations should be reflected on the
obligor's balance sheet as debt.

      G. Confidentiality. Holder agrees that any information provided to Holder
pursuant to this Section III shall be treated shall not be used for any
competitive purpose and shall be treated by Holder as confidential, except to
the extent that disclosure of any such information is required by law,
regulation, regulatory authority or other applicable judicial or governmental
requirement or order or stock exchange or other similar stock listing
requirements.

IV. SUBORDINATION.

      Holder, by its acceptance of this Note, agrees that the payment of all
obligations owing to it pursuant hereto are and will be subordinated to the
prior payment in full of any and all indebtedness and other obligations incurred
by the undersigned under (i) the Leases and related loan documentation, (ii) the
Working Capital Facility, provided that, such subordination of Holder in favor
of the Working Capital Facility lender shall permit the payment of scheduled
principal and interest payments under this Note so long as no default or event
of default has occurred and is continuing under the Working Capital Facility,
including without limitation any payment or covenant default or event of default
of any kind or nature whatsoever, without regard to (A) the nature of the
default or event of default or (B) whether the Working Capital Facility lender
has taken any steps to enforce any rights or seek any remedies arising by virtue
of such default or event of default, and (iii) any other promissory note issued
by Tenants in favor of Holder pursuant to the Limited Rent Guaranty (Six Flags)
(the "Additional Notes"). Upon any payment or distribution of assets of the
undersigned of any kind or character, including in connection with any winding
up, dissolution or liquidation of undersigned, the Leases, the Working Capital
Facility and the Additional Notes shall first be paid in full to the
satisfaction of (i) the Landlords under the Leases, (ii) the lender(s) under the
Working Capital Facility and (iii) Holder with respect to the Additional Notes,
prior to any payment or distribution on this Note. Notwithstanding the foregoing
to the contrary, nothing contained in this Note shall impair or otherwise affect
the obligation of the undersigned to make its regular monthly payments of
interest and annual payments of principal as provided in the first paragraph of
this Note; provided, however, that Holder shall not be entitled to receive, and
the undersigned shall not be obligated to make, any payments (including regular
monthly payments of interest and annual payments of principal under this Note)
for so long as the undersigned is in default with respect to payment under any
Lease, the Working Capital Facility or the Additional Notes. Holder hereby
agrees to promptly execute and deliver any subordination agreements, instruments
and acknowledgments as may be required by the Landlord of any Lease, the
lender(s) under the Working Capital Facility or the Holder with respect to the
Additional Notes in order to further evidence the agreement of Holder to
subordinate its right to payment under this Note as described in this Section
IV.

V. GENERAL.

      A. Notice; Business Day

      Any notice to Holder or the undersigned provided for in this Note shall be
given in the manner provided in the applicable Lease. The term "Business Day"
means any day other than a Saturday, a Sunday, or any other day which in Florida
or New York is a legal holiday or a day on which banking institutions are
authorized or required by law or government action to close.

      B. Assignment

      This Note is freely assignable in whole or in part, from time to time, by
Holder and Holder may grant participation interest(s) herein. Without limiting
the foregoing, the undersigned understands and agrees that Holder may sell,
pledge, grant a security interest in, collaterally assign, transfer, deliver or
otherwise dispose of this Note, from time to time. This Note shall be binding
upon the undersigned, its heirs, devises, administrators, executives, personal
representatives, successors, receivers, trustees, permitted assignees, including
all successors in interest of the undersigned, and shall inure to the benefit of
Holder hereof, and the successors and assignees of Holder.

      The undersigned may, with the prior written consent of Holder, require the
assumption of this Note upon an assignment of all of the Leases pursuant to the
terms of the Leases by the assignee of the Leases (the "Assuming Party"). Upon
any such assumption by the Assuming Party of all obligations under this Note and
the execution of all documents required by Holder to evidence the Assigning
Party's obligations as set forth herein, the undersigned or any subsequent
Assuming Party shall be released from liability under this Note. The undersigned
or the Assuming Party shall be responsible for any and all costs, fees
(including reasonable attorney's fees), documentary taxes, intangible taxes,
transfer taxes, etc. incurred in connection with any such assignment and
assumption.

      C. Governing Law; Usury; Miscellaneous

      This Note shall be governed by and construed in accordance with the laws
of the State of New York. The undersigned and Holder agree that any dispute
arising out of this Note shall be subject to the jurisdiction of both the state
and federal courts in New York. For that purpose, the undersigned hereby submits
to the jurisdiction of the state and federal courts of New York. The undersigned
further agrees to accept service of process out of any of the aforesaid courts
in any such dispute by registered or certified mail, postage prepaid, addressed
to the undersigned or by "express mail" or national receipted overnight delivery
service addressed to the undersigned. Nothing herein contained, however, shall
prevent Holder from bringing any action or exercising any rights against (i) the
undersigned, (ii) any security or (iii) the assets of the undersigned, within
any other state or jurisdiction.

      The parties hereto intend to conform strictly to the applicable usury
laws. In no event, whether by reason of demand for payment, prepayment,
acceleration of the maturity hereof or otherwise, shall the interest contracted
for, charged or received by Holder hereunder or otherwise exceed the maximum
amount permissible under applicable law. If, from any circumstance whatsoever,
interest would otherwise be payable to Holder in excess of the maximum lawful
amount, the interest payable to Holder shall be reduced automatically to the
maximum amount permitted by applicable law. If Holder shall ever receive
anything of value deemed interest under applicable law which would apart from
this provision be in excess of the maximum lawful amount, an amount equal to any
amount which would have been excessive interest shall be applied to the
reduction of the principal amount owing hereunder in the inverse order of its
maturity and not to the payment of interest, or if such amount which would have
been excessive interest exceeds the unpaid balance of principal, such excess
shall be refunded to the undersigned. All interest paid or agreed to be paid to
Holder shall, to the extent permitted by applicable law, be amortized, prorated,
allocated, and spread throughout the full stated term (including any renewal or
extension) of such indebtedness so that the amount of interest on account of
such indebtedness does not exceed the maximum permitted by applicable law. The
provisions of this paragraph shall control all existing and future agreements
between the undersigned and Holder.

      Whenever possible this Note and each provision hereof shall be interpreted
in such manner as to be effective, valid and enforceable under applicable law.
Any provisions of this Note which are prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. In addition, any determination that the application of any
provision hereof to any person or under any circumstance is illegal and
unenforceable shall not affect the legality, validity and enforceability of such
provision as it may be applied to any other person or in any other circumstance.

      D. WAIVER OF JURY TRIAL; NO CONSEQUENTIAL OR PUNITIVE DAMAGES. TO THE
EXTENT PERMITTED BY APPLICABLE LAW, THE UNDERSIGNED AND HOLDER BY ITS ACCEPTANCE
HEREOF, FOR ITSELF AND FOR EACH HOLDER HEREOF, HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY AGREE, THAT:

      (a) NEITHER THE UNDERSIGNED NOR HOLDER, NOR ANY ASSIGNEE, SUCCESSOR, HEIR
OR LEGAL REPRESENTATIVE OF ANY OF THE SAME SHALL SEEK A JURY TRIAL IN ANY
LAWSUIT, PROCEEDING, COUNTERCLAIM, OR ANY OTHER LITIGATION PROCEDURE ARISING
FROM OR BASED UPON THIS NOTE, ANY INSTRUMENT OR ANY LOAN DOCUMENT EVIDENCING,
SECURING OR RELATING TO THE OBLIGATIONS OR TO THE DEALINGS OR RELATIONSHIP
BETWEEN OR AMONG THE PARTIES THERETO;

      (b) NEITHER THE UNDERSIGNED NOR HOLDER SHALL SEEK TO CONSOLIDATE ANY SUCH
ACTION, IN WHICH A JURY TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A
JURY TRIAL HAS NOT BEEN OR CANNOT BE WAIVED;

      (c) THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY NEGOTIATED BY THE
UNDERSIGNED AND HOLDER, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS;

      (d) NEITHER THE UNDERSIGNED NOR HOLDER HAS IN ANY WAY AGREED WITH OR
REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE
FULLY ENFORCED IN ALL INSTANCES;

      (e) IN NO EVENT SHALL HOLDER BE RESPONSIBLE OR LIABLE FOR CONSEQUENTIAL OR
PUNITIVE DAMAGES TO THE EXTENT PERMITTED BY LAW; AND

      (f) THIS PROVISION IS A MATERIAL INDUCEMENT FOR HOLDER TO ENTER INTO THIS
TRANSACTION AND IS SEPARATELY GIVEN, KNOWINGLY AND VOLUNTARILY WITH THE BENEFIT
OF COMPETENT LEGAL COUNSEL.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

------------------------
(1) Parc 7F-Operations Corporation and its affiliates which become operating
tenants.

<PAGE>

IN WITNESS WHEREOF, the undersigned has caused this Note to be duly executed as
of the date first written above.

                                           PARC 7F-OPERATIONS CORPORATION,
                                           a Florida corporation

                                           By:
                                              ----------------------------------
                                           Name:
                                                --------------------------------
                                           Title:
                                                 -------------------------------

                       [ADD SIGNATURE BLOCKS FOR TENANTS]

STATE OF ____________
COUNTY OF ______________________

      BEFORE ME, the undersigned, a Notary Public in and for said County and
State, on this day personally appeared ____________________________________,
known to me to be the _______________________________of PARC 7F-OPERATIONS
CORPORATION, a Florida corporation, the company that executed the foregoing
instrument, and who provided ________________________________as identification
or who is known to me to be the person who executed the foregoing instrument on
behalf of said company, and acknowledged to me that such company executed the
same for the purposes and consideration therein expressed.

      GIVEN UNDER MY HAND AND SEAL this _______ day of ____________, 2007.

                                         ---------------------------------------
                                         Notary Public - State of ______________
                                         Print Name:____________________________
                                         Commission Number:_____________________
                                         My Commission Expires:_________________

                         [ADD NOTARY BLOCKS FOR TENANTS]Exhibit 10.3

                              LIMITED RENT GUARANTY
                                   (Six Flags)

      THIS LIMITED RENT GUARANTY (Six Flags) (this "Guaranty") is made as of the
___ day of __________, 2007 (the "Effective Date"), by and among (i) SIX FLAGS,
INC., a Delaware corporation ("Guarantor"), (ii) CNL INCOME DARIEN LAKE, LLC,
CNL INCOME ELITCH GARDENS, LLC, CNL INCOME ENCHANTED VILLAGE, LLC, CNL INCOME
FRONTIER CITY, LLC, CNL INCOME SPLASHTOWN, LLC, CNL INCOME WATERWORLD, LLC and
CNL INCOME WHITE WATER BAY, LLC, each a Delaware limited liability company (the
"Real Property Landlord(s)"); and (iii) CNL INCOME DARIEN LAKE TRS CORP., CNL
INCOME ELITCH GARDENS TRS CORP., CNL INCOME ENCHANTED VILLAGE TRS CORP., CNL
INCOME FRONTIER CITY TRS CORP., CNL INCOME SPLASHTOWN TRS CORP., CNL INCOME
WATERWORLD TRS CORP. and CNL INCOME WHITE WATER BAY TRS CORP., each a Delaware
corporation (the "Personal Property Landlord(s)" and, collectively with the Real
Property Landlords, the "Landlord(s)").

                                    RECITALS:

      A. Six Flags Theme Parks, Inc., Funtime, Inc., Elitch Garden Holdings
G.P., Frontier City Properties, Inc., SF Splashtown GP Inc., SF Splashtown Inc.
and Spring Beverage Holding Corp. (collectively, the "Securities Sellers"), as
"Sellers," and PARC 7-F Operations Corporation, a Florida corporation ("PARC"),
as "Buyer," entered into that certain Securities Purchase Agreement dated
January 10, 2007 (the "Securities Purchase Agreement"), pursuant to which, among
other things, Securities Sellers sold and transferred to PARC, and PARC
purchased and acquired from Securities Sellers, all of the equity interests and
partnership interests, as applicable, in: (i) Darien Lake Theme Park and Camping
Resort, Inc., (ii) Elitch Gardens, L.P., (iii) Enchanted Parks, Inc., (iv)
Frontier City Limited Partnership, (v) Premier Waterworld Concord, Inc., and
(vi) Tierco Water Park, Inc. (collectively, the "Owners").

      B. PARC, as "Seller" and CNL Income Properties, Inc., a Maryland
corporation ("CIP"), as "Purchaser" entered into that certain Asset Purchase
Agreement dated January 10, 2007, as assigned by CIP to the Landlords pursuant
to that certain Assignment of Asset Purchase Agreement dated __________ __, 2007
(together, the "Asset Purchase Agreement"), pursuant to which and
contemporaneously with the closing of the transactions under the Securities
Purchase Agreement, PARC has caused the Owners to sell, transfer and convey to
Landlords all of the Assets (as defined in the Asset Purchase Agreement).
Accordingly, as of the Effective Date, each Real Property Landlord is the fee
and/or leasehold owner of the real property, improvements and certain personal
property related to the theme park facility set forth opposite its name on
Exhibit A attached hereto (the "Property(ies)") and each Personal Property
Landlord is the owner of certain other personal property (which other personal
property together with the Properties shall hereinafter be collectively referred
to as the "Proper(ties)") related to the theme park facility set forth opposite
its name on Exhibit A attached hereto.

      C. Pursuant to the Asset Purchase Agreement and as a condition precedent
to the closing thereunder, the Landlords and ____________________,
__________________, __________________, ___________________, _________________,
__________________ (individually, a "Tenant" and collectively, the "Tenants")
have entered into those certain lease/sublease agreements set forth on Exhibit B
attached hereto, governing the leasing of the Properties from Landlords to
Tenants (the "Lease(s)").

      D. Each Landlord is an Affiliate of each other Landlord, each Tenant is an
Affiliate of each other Tenant .

      E. As a further condition precedent to the closing under the Securities
Purchase Agreement and the Asset Purchase Agreement, Guarantor has agreed,
subject to certain terms, conditions and limitations more particularly set forth
herein, to guarantee payment of Guaranteed Rent under the Leases (the "Limited
Rent Guaranty (Six Flags)").

      F. The transactions contemplated by the Securities Purchase Agreement and
the Asset Purchase Agreement are of direct, material and substantial benefit to
Guarantor.

      NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Guarantor and Landlords hereby covenant and agree as follows:

                                    SECTION 1

                                  DEFINED TERMS

      Terms not otherwise defined herein shall have meaning given them in the
Leases. The following terms, as used in this Guaranty, shall have the meanings
set forth below:

      "Accounting Period" shall have the meaning given such term in the Leases.

      "Affiliate" shall have the meaning given such term in the Leases.

      "Aggregate Amount Funded" shall mean, as of any given point in time, the
Amount Funded for all prior Fiscal Years plus the Amount Funded for the current
Fiscal Year.

      "Amount Funded" shall mean all Guaranteed Rent paid during a Fiscal Year
by Guarantor pursuant to the terms of this Guaranty. The Amount Funded shall be
calculated cumulatively for all Accounting Periods elapsed during a Fiscal Year.

      "Applicable Laws" shall have the meaning given such term in the Leases.

      "Asset Purchase Agreement" shall have the meaning given such term in the
Recitals.

      "Business Day" shall have the meaning given such term in the Leases.

      "CIP" shall have the meaning given such term in the Recitals.

      "Default" shall have the meaning given such term in Section 2.A. hereof.

      "Event of Default" shall have the meaning given such term in the Leases.

      "Fiscal Year" shall have the meaning given such term in the Leases.

      "Guarantee Payment Date" shall have the meaning given such term in Section
2.A hereof.

      "Guaranteed Rent" shall have the meaning given such term in Section 2.A
hereof.

      "Guarantor" shall have the meaning given such term in the Preamble.

      "Guaranty Funding Limit" shall mean the lesser of (i) one dollar less than
the total net cash proceeds received by the Parc Guarantors from the issuance of
equity on a combined basis prior to the closing of the transactions contemplated
by the Securities Purchase Agreement and (ii) Nine Million Nine Hundred
Ninety-Nine Thousand Nine Hundred Ninety-Nine and No/100 Dollars ($9,999,999);
provided, however, that the Guaranty Funding Limit shall be reduced by (x)
$1,000,000 on January 1 of each year during the Guaranty Term plus (y) any
Amount Funded hereunder, with such reduction to occur automatically on the date
of funding.

      "Guaranty Term" shall have the meaning given such term in Section 3
hereof.

      "Landlord" shall have the meaning given such term in the Preamble.

      "Lease(s)" shall have the meaning given such term in the Recitals.

      "Legal Requirements" shall have the meaning given such term in the Leases.

      "Limited Rent Guaranty (PARC)" shall mean that certain Limited Rent
Guarnaty (PARC) of even date herewith among PARC Guarantors and Landlords.

      "Limited Rent Guaranty (Six Flags)" shall have the meaning given such term
in the Recitals.

      "Overdue Rate" shall mean, on any date, a per annum rate of interest equal
to the lesser of (i) twelve percent (12%) or (ii) the maximum rate then
permitted under applicable law.

      "Owners" shall have the meaning given such term in the Recitals.

      "PARC" shall have the meaning given such term in the Recitals.

      "PARC Aggregate Amount Funded" shall mean the aggregate amount funded by
the PARC Guarantors pursuant to the Limited Rent Guaranty (PARC).

      "PARC Guarantor Default Notice" shall have the meaning given such term in
Section 2.A. hereof.

      "Parc Guarantors" shall mean PARC Management, LLC, a Florida limited
liability company, PARC Operations LLC, a Florida limited liability company, and
PARC Investors, LLC, a Florida limited liability company.

      "PARC Guarantor Unfunded Rent Due" shall have the meaning given such term
in Section 2.A. hereof.

      "PARC Guaranty Funding Limit" shall mean the guaranty funding limit
applicable to the PARC Guarantors pursuant to the Limited Rent Guaranty (PARC).

      "Persons" shall have the meaning given such term in the Leases.

      "Personal Property Landlord(s)" shall have the meaning given such term in
the Preamble.

      "Preamble" shall mean the first paragraph of this Agreement.

      "Promissory Note" shall have the meaning given such term in the Securities
Purchase Agreement.

      "Propert(ies)" shall have the meaning given such term in the Recitals.

      "Personal Property Landlord(s)" shall have the meaning given such term in
the Preamble.

      "Recitals" shall mean paragraphs A through F under the heading "Recitals"
in this Agreement.

      "Rent" shall have the meaning given such term in the Leases.

      "Rent Default Notice" shall have the meaning given such term in Section
2.A. hereof.

      "Rent Due" shall have the meaning given such term in Section 2.A. hereof.

      "Securities Sellers" shall have the meaning given such term in the
Recitals.

      "Tenant(s)" shall have the meaning given such term in the Recitals.

      "Transfer" shall have the meaning given such term in the Leases.

      "Unlawful Provisions" shall have the meaning given such term in Section 12
hereof.

                                    SECTION 2

                                    GUARANTY

      Subject to the following provisions of this Section 2, Guarantor hereby
absolutely, unconditionally and irrevocably guarantees to Landlord the full,
complete and timely payment to Landlord of all Rent, up to a maximum amount
equal to the Guaranteed Funding Limit (collectively, "Guaranteed Rent"). Subject
to the terms, provisions and limitations of this Guaranty, this Guaranty is an
absolute, irrevocable and unconditional guaranty of payment. For purposes
hereof, and notwithstanding anything to the contrary contained in the Leases, it
is expressly understood and agreed that the Guaranteed Rent guaranteed hereunder
shall not include any additional amounts, including, without limitation, any
sums for damages arising from an Event of Default or termination of the Leases,
specifically including damages computed on the basis of the acceleration of any
Rent due under the Leases, it being understood and agreed that Guarantor's
agreement to pay Guaranteed Rent hereunder shall not exceed the amount of Rent
payable during the Guaranty Term in accordance with the Leases. The parties
hereto agree to the following:

      A. In the event that Tenant shall fail to pay when due (taking into
account any applicable cure period) any Rent (the "Rent Due") under the Lease (a
"Default"), Landlords shall deliver written notice of such Default by Tenant to
Guarantor and to PARC Guarantors (the "Rent Default Notice"). In the event that
PARC Guarantors fail to pay to Landlords any portion or all of the Rent Due
within ten (10) calendar days after the Rent Default Notice, the Landlords shall
provide Guarantor with written notice of any Rent Due (the "PARC Guarantor
Unfunded Rent Due") that PARC Guarantors have failed or refused to pay (the
"PARC Guarantor Default Notice"). Guarantor shall pay to Landlords, the PARC
Guarantor Unfunded Rent Due, within ten (10) calendar days following Guarantor's
receipt of the PARC Guarantor Default Notice (the "Guarantee Payment Date").

      B. Subject to the terms, provisions and limitations of this Guaranty, this
Guaranty is a continuing Guaranty and shall remain in full force and effect
until the termination or expiration of the Guaranty Term.

      C. Guarantor also agrees, as principal obligor and not as a guarantor
only, to pay to Landlord, in immediately available funds, all interest on
amounts recoverable under this Guaranty, from the date of Guarantee Payment Date
until payment, at the Overdue Rate.

      F. Any payment of Rent made to Landlord in accordance with this Guaranty
shall be deemed to cure any Event of Default under the Lease with respect solely
as to an Event of Default with respect to payment of Rent and only to the extent
of Rent actually paid hereunder.

                                    SECTION 3

                                  GUARANTY TERM

      The term of this Guaranty (the "Guaranty Term") shall be the period
commencing on the Effective Date and ending on the earliest to occur of:

            1.    the first date on which the Aggregate Amount Funded equals the
                  Guaranty Funding Limit;

            2.    the date the Guaranty Funding Limit equals zero;

            3.    the date on which the last of the Leases terminates pursuant
                  to the terms thereof, other than a termination due to an Event
                  of Default by Tenant (except that Rent accrued up to the date
                  of such termination and unpaid shall be and remain guaranteed
                  amounts hereunder until paid); and

            4.    the date of a transfer of the Leases to a Permitted
                  Third-Party Assignee pursuant to Section 16.1 of the Leases.

                                    SECTION 4

                                     LEASES

      Guarantor has received copies of the Leases and hereby acknowledges the
terms, covenants and conditions of the Leases. The Leases shall not be amended,
modified or supplemented in any material respect without Guarantor's prior
written consent., which consent shall not be unreasonably withheld, conditioned
or delayed. Landlord agrees to provide notice of any Event of Default under the
Leases to Guarantor as soon as practicable after Landlord has knowledge of such
Event of Default.

                                    SECTION 5

                              WAIVERS BY GUARANTOR

      Subject to Section 2 hereof, Guarantor hereby waives (a) notice of any
default hereunder and any default, breach or nonperformance or any Default or
Event of Default with respect to any of the Guaranteed Rent under the Leases,
(b) demand for performance or observance of, and any enforcement of any
provision of, or any pursuit or exhaustion of rights or remedies against
Tenants, under or pursuant to the Leases, or any agreement directly or
indirectly relating thereto and any requirements of diligence or promptness on
the part of Landlords in connection therewith, and (c) to the extent Guarantors
lawfully may do so, any and all demand and notices of every kind and description
with respect to the foregoing or which may be required to be given by any
statute or rule of law and, subject to Section 16 hereof, any defense of any
kind which it may now or hereafter have with respect to this Guaranty, the
Leases or the Guaranteed Rent guaranteed hereunder. Guarantor agrees that the
liability of Guarantor hereunder shall in no way be affected, diminished, or
released by (i) any forbearance or indulgence which may be granted to a Tenant
(or to any successor thereto or to any Person which shall have assumed the
obligations thereof) under the Lease, except if such forbearance or indulgence
amends, alters, modifies or otherwise affects the amount of Rent or the Tenant's
obligation to pay the Rent and, in such event only to the extent of such effect
on the amount of Rent or Tenant's obligation to pay the Rent, (ii) any waiver or
amendment of any term, covenant or condition in the Leases, except if such
waiver or amendment amends, alters, modifies or otherwise affects the amount of
Rent or the Tenant's obligation to pay the Rent and, in such event only to the
extent of such effect on the amount of Rent or Tenant's obligation to pay the
Rent or (iii) the acceptance of additional security.

                                    SECTION 6

                                   ENFORCEMENT

      A. Subject to the terms and provisions of this Section, Guarantors agree
that this Guaranty may be enforced by any one or more Landlords. Guarantor
agrees that nothing herein contained shall prevent Landlords from suing on the
Leases, or from exercising any other right available to Landlords under the
Leases. The exercise of any of the aforementioned rights shall not constitute a
legal or equitable discharge of Guarantor, it being the purpose and intent of
Guarantor that its obligations under this Guaranty shall be absolute and
unconditional until the termination of this Guaranty pursuant to the terms of
this Guaranty. Guarantor's covenants and agreements set forth in this Section
shall survive the expiration or termination of this Guaranty.

      B. If any litigation or other court action, arbitration or similar
adjudicatory proceeding is commenced by Landlords to enforce this Guaranty, all
fees, costs and expenses, including, without limitation, reasonable attorneys
fees and court costs, incurred by Landlords in such litigation, action,
arbitration or proceeding shall be reimbursed by Guarantor, as principal obligor
and not as a guarantor only, if Landlords are the prevailing party. If Landlords
prevail in part in such litigation, action, arbitration or proceeding, and loses
in part, the court, arbitrator or other adjudicator presiding over such
litigation, action, arbitration or proceeding shall award reimbursement of the
fees, costs and expenses incurred by Landlords on an equitable basis.
Guarantor's covenants and agreements set forth in this Section shall survive the
expiration or termination of this Guaranty and shall be due and payable
notwithstanding, and may in fact exceed, any and all limits set forth in this
Guaranty..

      C. It is expressly understood and agreed by Guarantor and Landlords that
Landlords may appoint any one or more Landlord to exercise the rights of
Landlords hereunder.

                                    SECTION 7

                       CLAIMS BY GUARANTOR AGAINST TENANTS

      Nothing hereunder contained shall operate as a release or discharge, in
whole or in part, of any claim of Guarantor against Tenants by subrogation or
otherwise, by reason of any act done or any payment made by Guarantor pursuant
to the provisions of this Guaranty; but all such claims shall be subordinate to
the claims of Landlords.

                                    SECTION 8

                          FAILURE TO FUND BY GUARANTOR

      If Guarantor is required to provide funds to Landlords pursuant to this
Guaranty and fails to do so at such time Guarantor is required to do so
hereunder, interest at the Overdue Rate shall accrue and be due and owing by
Guarantor to Landlord for any Guaranteed Rent not paid when due (which interest
shall accrue from the date on which such amounts were required to be funded
hereunder until the date on which such amounts are actually funded); it being
understood and agreed that to the extent any amounts required to be paid by
Guarantor hereunder already include interest at the Overdue Rate pursuant to
Section 3.6 of the Leases, Guarantor shall not be required to pay such interest
twice. Guarantor's covenants and agreements set forth in this Section shall
survive the expiration or termination of this Guaranty.

                                    SECTION 9

                                     NOTICES

      Notices, statements and other communications to be given under the terms
of this Guaranty shall be in writing and delivered by hand against receipt or
sent by certified or registered mail or Express Mail service, postage prepaid,
return receipt requested or by nationally utilized overnight delivery service,
addressed to the parties as follows:

            To Landlords:  c/o CNL Income Partners, LP
                           CNL Center at City Commons, 12th Floor
                           450 South Orange Avenue
                           Orlando, Florida 32801
                           Attn: Tammie A. Quinlan, Chief Financial Officer
                                 Amy Sinelli, Vice President and
                                 Corporate Counsel

                           with copy to:

                           Lowndes Drosdick Doster Kantor & Reed, P.A.
                           215 North Eola Drive
                           Orlando, Florida 32801
                           Attn: William T. Dymond, Jr., Esquire
                           Fax:  (407) 843-4444

            To Guarantor:  Six Flags, Inc.
                           1540 Broadway, 15th Floor
                           New York, New York 10036
                           Attn: James M. Coughlin, Esquire
                           Fax:  (212) 354-3089

                           with copy to:

                           Cadwalader, Wickersham & Taft LLP
                           One World Financial Center
                           New York, New York 10281
                           Attn: Dennis J. Block, Esquire
                           Fax:  (212) 504-5557

or at such other address as is from time to time designated by the party
receiving the notice. Any such notice that is mailed in accordance herewith
shall be deemed received when delivery is received or refused, as the case may
be.

                                   SECTION 10

                          APPLICABLE LAW; JURISDICTION

      This Guaranty shall be governed by and construed in accordance with the
laws of the State of New York, without giving effect to any conflicts of law
provisions thereof. The parties hereto submit to the personal jurisdiction of
the courts of the State of New York and the Federal courts of the United States
sitting in New York City, New York, and any appellate court to which an appeal
from any such state or Federal court may be taken, and hereby irrevocably and
unconditionally agree that all claims with respect to any such claim may be
heard and determined in such state court or, to the extent permitted by law, in
such Federal court. The parties agree that a final judgment in any such claim
shall be conclusive and may be enforced in any other jurisdiction by suit on the
judgment or in any other manner provided by law. Each of the parties hereto
irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, any objection which it may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to
this Guaranty or any related matter in any New York state or Federal court
located in New York City, New York and the defense that such court is an
inconvenient forum for the maintenance of such claim.

                                   SECTION 11

                                CUMULATIVE RIGHTS

      All the rights of the parties herein are cumulative and not alternative
and may be enforced successively or concurrently. Failure of any party to
exercise any of its rights shall not be deemed a waiver thereof, and no waiver
of any of a party's rights shall be deemed to apply to any other rights.

                                   SECTION 12

                                  SEVERABILITY

      In case any provision (or any part of any provision) contained in this
Guaranty shall for any reason be held to be invalid, illegal or unenforceable in
any respect (an "Unlawful Provision"), such Unlawful Provision shall not affect
any other provision (or remaining part of the affected provision) of this
Guaranty, but this Guaranty shall be construed as if such Unlawful Provision had
never been a part of this Guaranty unless such Unlawful Provision materially
affects the benefits and burdens anticipated by the parties in entering into
this Guaranty.

                                   SECTION 13

                                     GRAMMAR

      When used herein, the singular shall include the plural; the plural the
singular; and the use of any gender shall be applicable to all genders.

                                   SECTION 14

                               TIME OF THE ESSENCE

      Time is of the essence in the performance of the obligations and
undertakings of the parties hereto.

                                   SECTION 15

                                    CAPTIONS

      The captions appearing in this Guaranty are inserted only as a matter of
convenience and do not define, limit, construe or describe the scope or intent
of the sections of this Guaranty or in any way affect this Guaranty.

                                   SECTION 16

                                  MISCELLANEOUS

      A. Limitation of Liability. Nothing in this Guaranty shall create any
liability or obligation for Guarantor to pay the Guaranteed Rent or any of the
other amounts due hereunder to the extent Tenants would not have liability or
otherwise be responsible to Landlords for Rent under the Leases. Guarantor shall
have the right to assert as a defense to any of its liabilities and obligations
hereunder any defense that is available to Tenants under the Leases.
Notwithstanding the foregoing to the contrary, the obligations of Guarantor
contained in this Guaranty shall nevertheless remain in full force and effect
and shall be binding upon Guarantor if Tenant is under no legal obligation to
pay any Rent under the Lease as a result of insolvency, bankruptcy, or other
similar proceedings affecting Tenant or any assets of Tenant.

      B. Reimbursement, Subrogration, Etc. In the event that Guarantor pays any
amount of Guaranteed Rent hereunder, such amount paid by Guarantor, including
any interest thereon, plus the amount of any fees, expenses or costs paid by
Guarantor in accordance with Section 6 hereof, shall become a debt obligation of
Tenant and the Parc Guarantors to Guarantor and, notwithstanding any prohibition
to the contrary contained in the Leases, Tenant shall deliver a promissory note
to Guarantor, substantially in the form of the Promissory Note, in the amount of
the Guaranteed Rent paid, and any interest paid thereon, in accordance with this
Guaranty. The obligations under such note shall rank senior to the Promissory
Note but shall be expressly subordinate to the Lease and the Limited Rent
Guaranty (PARC). Until all obligations of Tenants under the Leases shall have
been paid and performed in full, Guarantor shall have no right of subrogation,
and Guarantor waives any defense it may have based upon any election of remedies
by Landlords which destroy Guarantor's subrogation rights or Guarantor's rights
to proceed against Tenants for reimbursement, (including, without limitation,
any loss of rights Guarantor may suffer by reason of any rights, powers or
remedies of Tenants in connection with any anti-deficiency laws or any other
laws limiting, qualifying or discharging the indebtedness to Landlord). If,
notwithstanding such waiver, any funds shall be paid or transferred to Guarantor
on account of such subrogation, contribution, or other similar rights at any
time when all of the obligations of Tenants have not been paid in full,
Guarantor shall hold such funds in trust for Landlords and shall forthwith pay
over to Landlords such funds to be applied by Landlords to the obligations of
Tenants. Nothing contained in this paragraph shall limit Holder's right to be
paid under the Promissory Note or any other note issued in accordance herewith
so long as Tenants are current in all Rent due and payable to Landlords so long
as there is no continuing Event of Default under the Leases.

      C. Continuing Enforcement. If, after receipt of any payment under this
Guaranty, Landlords are compelled or agree, for settlement purposes, to
surrender such payment to any Person relating to Guarantor's insolvency,
bankruptcy or inability to pay its debts as they become due or as a direct
result of Guarantor's actions (including, without limitation, a determination
that such payment is void or voidable as a preference or fraudulent conveyance,
an impermissible setoff, or a diversion of trust funds), Guarantor's obligation
to fund under this Guaranty shall continue (subject to such other limitations as
are set forth herein) as if the payment (which was so surrendered) had not been
made. The provisions of this Section shall survive the termination of this
Guaranty.

      D. Remedies Cumulative. No remedy herein conferred upon a party hereto is
intended to be exclusive of any other remedy, and each and every remedy shall be
cumulative and shall be in addition to every other remedy given hereunder or now
or hereafter existing at law or in equity (including, without limitation, the
right to seek the remedy of specific performance) or by statute or otherwise.

      E. Entire Agreement. This Guaranty constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and shall
supersede and take the place of any other instruments purporting to be an
agreement of the parties hereto relating to the subject matter hereof.

      F. Counterparts. The parties agree that this Guaranty may be signed and
delivered in counterparts.

                         [Signatures Begin on Next Page]

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Guaranty with the intention of creating an instrument under seal.

                                         GUARANTOR:

                                         SIX FLAGS, INC.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  __________________________
                                            Title: __________________________

                                         LANDLORDS:

                                         CNL INCOME DARIEN LAKE, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME ELITCH GARDENS, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME ENCHANTED VILLAGE, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME FRONTIER CITY, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME SPALASHTOWN, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME WATERWORLD, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME WHITE WATER BAY, LLC,
                                         a Delaware limited liability company

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME DARIEN LAKE TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME ELITCH GARDENS TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME ENCHANTED VILLAGE TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME FRONTIER CITY TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME SPASHTOWN TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME WATERWORLD TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         CNL INCOME WHITE WATER BAY TRS CORP.,
                                         a Delaware corporation

                                         By:
                                            ---------------------------------
                                            Name:  Tammie A. Quinlan
                                            Title: Executive Vice President

                                         TENANTS:

                                         [ADD SIGNATURE BLOCKS FOR TENANTS]

                     Signature Page to Limited Rent Guaranty

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