Document:

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EXHIBIT 10.26

                               TERM NOTE AGREEMENT

                             Date: January 22, 2001

         800 Travel Systems, a Delaware corporation (COMPANY), and Sabre Inc., a
Delaware corporation (SABRE), are parties to the CRS Contract. Sabre may from
time to time be obligated to make Incentive Payments to Company under the CRS
Contract. Company has requested that Sabre make advances to Company for
Company's lawful working capital purposes, with such advances to be secured by
the Sabre Incentive Payments and other Sabre Collateral. Sabre has advised
Company that Sabre is willing to make advances to Company upon the terms and
subject to the conditions set forth in this agreement (this AGREEMENT).
Therefore, Company and Sabre agree as follows:

         1.       Definitions. Capitalized terms used in this Agreement have the
meanings provided on SCHEDULE 1 to this Agreement.

         2.       Term Note.

                  (a)      Advance. Subject to the terms and conditions of this
         Agreement, Sabre shall make up to three (3) advances to Company. The
         total of the advances shall not exceed $1,800,000. All advances must be
         made within 1 year of the start of this contract. Company must give
         Sabre at least 5 business days prior written notice of its request for
         an Advance, and each Advance must be in the minimum amount of $100,000.

                  No further advances may be taken on this Term Note other than
         the advances provided for herein. The term of the Term Note will be 60
         months from the time of the latest advance, at that time all remaining
         principal and interest will be due.

                  (b)      Evidence of Obligation. The Term Note principal and
         interest owed to Sabre shall be evidenced by accounts or records
         maintained by Sabre, and provided to the Company on a monthly basis.
         Such Term Note accounts or records shall be conclusive evidence (absent
         manifest error) of the amount of the Term Note balance, the interest
         accrued thereon and principal payments applied thereto. Any failure to
         so record or any error in doing so shall not, however, limit or
         otherwise affect the obligation of Company under the Sabre Documents to
         pay any amount owing with respect to this Agreement.

         3.       Repayment.

         (a)      Interest. Interest shall accrue on the unpaid principal amount
         of the Term Note, from the date of Advance until paid in full, at a
         rate per annum equal to the Prime Rate plus 2.5 %. Each change in the
         Prime Rate shall become effective without prior notice to Company
         automatically as of the opening of business on the date of such change
         in the Prime Rate. Additionally, past-due principal and interest shall
         bear interest at a rate per annum equal to the Prime Rate plus 8%. The
         accrual and payment of interest shall in all respects be subject to the
         limits of applicable law, as more fully described in SECTION 10(B).

         (b)      Payments.

         (i)      Company shall pay the amount of unpaid principal of, and
accrued interest on, the Term Note in 60 equal consecutive monthly installments,
commencing in the month following the month of the Loan Date. Each such payment
shall be made on the Payment Date. Loan payments will be offset against any
payments
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Sabre is obligated to make to the Company, per SECTION 3(D). If the Sabre
Incentive Payment is greater than the payment, then no additional amounts are
due Sabre regarding this Term Note. If deemed appropriate by Sabre, Sabre may
(by notice to Company) recalculate the amount of each monthly installment to
reflect changes in the Prime Rate after the Loan Date or changes in the
principal due to advances that were made.

                           (ii)     Interest shall be calculated on the basis of
                  actual number of days (including the first day but excluding
                  the last) elapsed, but computed as if each calendar year
                  consisted of 365 days, subject to the provisions of SECTION
                  10(B). If a Sabre Incentive Payment is due during any calendar
                  month, interest shall not accrue on the portion equal to the
                  amount of that Incentive Payment from the first day of that
                  calendar month until the Payment Date.

                  (iii)    In addition, and without limiting Company's
                  obligations under this Agreement, Company and Sabre shall make
                  all payments required under the CRS Contract.

                  (c)      General Payment Provisions. All payments (including
         prepayments) under this Agreement (i) shall be payable in immediately
         available funds in United States Dollars no later than 1:00 p.m. (Fort
         Worth, Texas time) on the date when due, and (ii) shall be made free
         and clear of, and without deduction or withholding for or on account
         of, any Taxes. If any payment hereunder becomes due and payable on a
         day other than a business day, in Fort Worth, Texas, the maturity of
         such payment shall be extended to the next succeeding business day (and
         with respect to payments of principal, interest thereon shall be
         payable at the then applicable rate during such extension). Except as
         expressly provided hereunder, all payments shall be applied first to
         accrued interest, and then to unpaid principal of the Term Note.

                  (d)      Offset Payments. Until the Term Note, along with
         accrued interest and expenses, is paid in full, the amount of any
         payment that Sabre is obligated to make to Company shall be set off
         against any amounts due and owing under this Term Note Agreement.
         COMPANY'S OBLIGATIONS UNDER THIS AGREEMENT ARE NOT, HOWEVER,
         CONDITIONED UPON THE EXISTENCE OR THE AMOUNT OF INCENTIVE PAYMENTS AND
         SHALL SURVIVE THE TERMINATION OF THE CRS CONTRACT. Without limiting the
         foregoing, if the amount payable under this Agreement at any time
         exceeds the Incentive Payment payable at such time, then the excess
         amount payable under this Agreement shall be due and payable in
         accordance with the terms of this Agreement. Notwithstanding any
         provisions to the contrary, the right of Company to receive an
         Incentive Payment earned for any 30-day period shall not accrue until
         Sabre determines the amount of such Incentive Payment and the Payment
         Date with respect to such Incentive Payment.

                  (e)      Prepayments. Company may at any time and from time to
         time prepay the Term Note and accrued interest, in whole or in part,
         without premium or penalty. All prepayments shall be accompanied by
         accrued and unpaid interest to the date of such prepayment on the
         amount prepaid.

         4.       Collateral. In addition to Sabre's rights of offset, as
described in SECTION 3(D) of this Agreement, the Term Note shall be secured by a
perfected, first priority, security interest in the Sabre Collateral, pursuant
to the security agreement supplement attached as EXHIBIT A to this Agreement.

         5.       Conditions Precedent. The obligation of Sabre to make any
Advance to Company is subject to the conditions precedent that, as of the date
of that Advance: (a) Sabre has received (on the date hereof) duly executed
copies of each document listed on SCHEDULE 5 to this Agreement, in form and
substance acceptable to Sabre and its legal counsel; (b) all representations and
warranties made by Company to Sabre are true and correct, as if made on such
date, and no condition or event exists which constitutes an Event of Default, or
which, with the lapse of time and/or giving of notice, would constitute an Event
of Default; (c) the requirements OF SECTION 2 have been satisfied; (d) the CRS
Contract has not expired or been terminated and no notice of termination has
been given thereunder; and (e) Company has
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furnished to Sabre a certificate executed by the chief financial officer or the
chief executive officer of Company, in the form of EXHIBIT B to this Agreement.

         6.       Representations and Warranties. In order to induce Sabre to
make the Term Note, Company represents and warrants to Sabre that:

                  (a)      Company is a [corporation,] duly organized and in
         good standing, under the laws of the State of Delaware and has the
         power to own its property and to carry on its business in each
         jurisdiction in which Company operates;

                  (b)      Company has full power and authority to enter into
         this Agreement, to make the borrowing hereunder, to execute and deliver
         the Sabre Documents and to incur the obligations provided for in the
         Sabre Documents, all of which have been duly authorized by all
         necessary corporate action;

                  (c)      The Sabre Documents are the legal and binding
         obligations of Company, enforceable in accordance with their respective
         terms, except as limited by bankruptcy, insolvency or other laws of
         general application relating to the enforcement of creditors' rights
         and general principle's of equity;

                  (d)      To the best of the company's knowledge the execution,
         delivery and performance of this Agreement and the other Sabre
         Documents will not contravene or conflict with any provision of law,
         statute or regulation to which Company is subject or any judgment,
         license, order or permit applicable to Company or any indenture, credit
         agreement, trust or other instrument to which Company may be subject;
         no consent, approval, authorization or order of any court, governmental
         authority or third party is required in connection with the execution
         and delivery by Company of this Agreement or any of the other Sabre
         Documents or to consummate the transactions contemplated herein or
         therein except as contemplated in the Sabre documents;

                  (e)      Financial Statements of Company available through the
         SEC Edgar System, for the period's ending 12/31/99 and 9/30/00 are true
         and correct, fairly present the financial condition of Company in all
         material respects and have been prepared in accordance with GAAP, and
         no material adverse changes have occurred in the financial condition or
         business of Company since the date of the most recent financial
         statements; Company owns all of the assets reflected on its most recent
         balance sheet free and clear of all liens, security interests or other
         encumbrances, except as previously disclosed in writing to Sabre;

                  (f)      Except to the extent presented in its financial
         statements and SEC filings, no litigation, investigation, or
         governmental proceeding is pending, or, to the knowledge of any of
         Company's officers, threatened against or affecting Company, which may
         reasonably be expected to result in any material adverse change in
         Company's business, properties or operations;

                  (g)      The principal office, chief executive office and
         principal place of business of Company is in Tampa, Florida;

                  (h)      To its best knowledge all Taxes required to be paid
         by Company have in fact been paid; and

                  (i)      To its best knowledge, the Company is not in
         violation of any law, ordinance, governmental rule or regulation to
         which it is subject, and is not in default under any material
         agreement, contract or understanding to which it is a party.

         7.       Certain Covenants. Until payment in full of the Term Note and
all other obligations and liabilities of Company hereunder, Company covenants
that (unless Sabre otherwise consents in writing) it shall:
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                  (a)      Promptly pay to Sabre all obligations under and in
         accordance with the terms of this Agreement;

                  (b)      Promptly perform all of Company's obligations under
         the CRS Contract and under all other agreements with Sabre;

                  (c)      Conduct its business in an orderly and efficient
         manner consistent with good business practices and in accordance with
         all valid regulations, laws and orders of any governmental authority
         and will act in accordance with customary industry standards in
         maintaining and operating its assets, properties and investments;

                  (d)      Maintain complete and accurate books and records of
         its transactions in accordance with GAAP, and give Sabre access during
         business hours to all books, records and documents that substantiate
         its financial statements of the Company or that are relevant to large
         financial impacts on the Company and permit Sabre to make and take away
         copies thereof;

                  (e)      Promptly notify Sabre of (i) any material adverse
         change in its financial condition or business; (ii) any default under
         any material agreement, contract or other instrument to which Company
         is a party or by which any of its properties are bound, or any
         acceleration of any maturity of any indebtedness owing by Company,
         (iii) any material adverse claim against or affecting Company or any of
         its properties; (iv) any litigation, or any claim or controversy which
         might become the subject of litigation, against Company or affecting
         any of Company's property, if such litigation or potential litigation
         might, in the event of an unfavorable outcome, have a material adverse
         effect on Company's financial condition or business or might cause an
         Event of Default; and (v) any condition or event constituting an Event
         of Default or event which, with the lapse of time and/or giving of
         notice would constitute an Event of Default;

                  (f)      Promptly pay all lawful claims, whether for Taxes,
         labor, materials or otherwise, which might or could, if unpaid, become
         a lien or charge on any property or assets of Company, unless and to
         the extent only that the same are being contested in good faith by
         appropriate proceedings and reserves have been established therefor;

                  (g)      Maintain on its properties and operations insurance
         of responsible and reputable companies in such amounts and covering
         such risks as is prudent and is usually carried by companies engaged in
         businesses similar to that of Company; Company shall furnish Sabre, on
         request, with certified copies of insurance policies or other
         appropriate evidence of compliance with the foregoing covenant;

                  (h)      Preserve and maintain all licenses, privileges,
         franchises, certificates and the like necessary for the operation of
         its business;

                  (i)      Comply with all covenants set forth on SCHEDULE 7(I)
         to this Agreement, and (i) in all covenants required of any current or
         future primary lender, as if such covenants were set forth in this
         Agreement, and without regard to amendments, waivers, or terminations
         of such covenants after the date hereof; and provide (and request that
         such lender provide) to Sabre prompt notice of any failure by Company
         to comply with such covenants. Additionally, Company shall:

                           (i)      Utilizing the SEC Edgar System, make
                  available to Sabre as soon as available and in any event
                  within 45 days after the end of each quarterly fiscal period
                  (except the last) of each fiscal year of Company, copies of
                  the balance sheet of Company as of the end of such fiscal
                  period, and statements of income and retained earnings and
                  changes in cash flow of Company for that quarterly fiscal
                  period and for the portion of the fiscal year ending with such
                  period, all in reasonable detail, and certified by the chief
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                  financial officer of Company as being true and correct and as
                  having been prepared in accordance with GAAP conformed for SEC
                  regulations, subject to year-end adjustments; and

                           (ii)     Utilizing the SEC Edgar System, make
                  available to Sabre as soon as available and in any event
                  within 90 days after the close of each fiscal year of Company,
                  copies of the balance sheet of Company as of the close of such
                  fiscal year, and statements of income and retained earnings
                  and changes in cash flow of Company for such fiscal year, in
                  each case setting forth in comparative form the figures for
                  the preceding fiscal year, all in reasonable detail and
                  accompanied by an opinion thereon (which shall not be
                  qualified by reason of any limitation imposed by Company) of
                  independent public accountants of recognized national
                  standings selected by Company, to the effect that such
                  financial statements have been prepared in accordance with
                  GAAP conformed for SEC regulations (except for changes in
                  which such accountants concur); and

                           (iii)    If, as of the last day of a quarterly fiscal
                  period of a fiscal year of Company, the Payment/Incentive
                  Ratio exceeds 0.75, then furnish to Sabre as soon as available
                  and in any event within 45 days after the end of such
                  quarterly fiscal period, a certificate executed by the chief
                  financial officer or chief executive officer of Company in the
                  form of EXHIBIT B to this Agreement;

                  (j)      Not mortgage, assign, encumber, or grant a security
         interest in any of the Sabre Collateral, except to Sabre (provided,
         however, that the foregoing shall not apply to inchoate liens for taxes
         which are not delinquent or which are being contested in good faith and
         liens resulting from deposits to secure the payments of workmen's
         compensation or social security or to secure the performance of bids or
         contracts in the ordinary course of business).

         8.       Default. An Event of Default shall exist if any one or more of
the following events (individually, an EVENT OF DEFAULT and collectively, EVENTS
OF Default) shall occur:

                  (a)      Company shall fail to pay when due any principal of,
         or interest on, the Term Note or any other fee or payment due under any
         of the Sabre Documents, which remains unpaid for a period of thirty
         (30) days from Company's receipt of written notice from Sabre advising
         of the late payment;

                  (b)      Company shall fail to perform any of its material
         obligations under the CRS Contract or any other agreement with Sabre;

                  (c)      Any material representation or warranty made in any
         of the Sabre Documents shall prove to be untrue or inaccurate in any
         respect as of the date on which such representation or warranty is
         made;

                  (d)      Default shall occur in the performance of any of the
         covenants or agreements of Company contained in any of the Sabre
         Documents;

                  (e)      Any of the Sabre Documents ceases to be legal, valid,
         binding agreements enforceable against any party executing the same, is
         terminated or becomes or is declared ineffective or inoperative, or
         ceases to give or provide the respective liens, security interests,
         rights, titles, interests, remedies, powers or privileges intended to
         be created thereby;

                  (f)      Any of Sabre's liens, mortgages or security interests
         in any of the Sabre Collateral becomes unenforceable, or ceases to be
         first priority liens, mortgages or security interests (provided,
         however, that the foregoing shall not apply to inchoate liens for taxes
         which
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         are not delinquent or which are being contested in good faith and liens
         resulting from deposits to secure the payments of workmen's
         compensation or social security or to secure the performance of bids or
         contracts in the ordinary course of business);

                  (g)      Company shall voluntarily or involuntarily become the
         subject of a bankruptcy, insolvency or receivership proceeding or case
         which is not terminated within 30 days

                  (h)      Company shall liquidate, dissolve, reorganize, or
         sell all or substantially all of its assets;

                  (i)      A Change of Control shall occur;

                  (j)      Company shall default in the payment of any material
         indebtedness of Company or in the performance of any of Company's
         material obligations and such default shall continue for more than any
         applicable period of grace;

                  (k)      Any final judgment(s) for the payment of money in
         excess of the sum of $500,000 in the aggregate shall be rendered
         against Company and such judgment(s) shall not be satisfied or
         discharged at least ten days prior to the date on which any of
         Company's assets could be lawfully sold to satisfy such judgment(s);

                  (l)      Termination of the CRS Contract, other than at the
         scheduled termination date or as a result of the material breach of
         Sabre; or

                  (m)      The Payment/Incentive Ratio exceeds 1.0.

         9.       Remedies Upon Event of Default. If an Event of Default shall
have occurred and be continuing, then Sabre at its option may (i) declare the
principal of, and all interest then accrued on, the Term Note and any other
liabilities of Company to Sabre to be forthwith due and payable, whereupon the
same shall forthwith become due and payable without notice, presentment, demand,
protest, notice of intention to accelerate, notice of acceleration, or other
notice of any kind, all of which Company hereby expressly waives, anything
contained herein to the contrary notwithstanding, (iii) increase the interest
rate which accrues on the unpaid principal of the Term Note, subject to SECTION
10(B), to a rate per annum up to the Prime Rate plus 8%, (iv) reduce any claim
to judgment, and/or (v) without notice of default or demand, pursue and enforce
any of Sabre's rights and remedies under the Sabre Documents or otherwise
provided under or pursuant to any applicable law or agreement.

9.       Miscellaneous.

                  (a)      General. Generally, except as otherwise provided
         herein, the notice, arbitration, governing law, entireties, and
         severability provisions of the CRS Contract shall apply to this
         Agreement and its enforcement and interpretation.

                  (b)      Maximum Interest Rate. Regardless of any provisions
         contained in this Agreement, the Term Note or in any of the other Sabre
         Documents, Sabre shall never be deemed to have contracted for or be
         entitled to receive, collect or apply as interest (whether termed
         interest in the Sabre Documents or deemed to be interest by judicial
         determination or operation of law) on the Term Note, any amount in
         excess of the maximum rate of interest permitted to be charged by
         applicable law, and, in the event Sabre ever receives, collects or
         applies as interest any such excess, such amount which would be
         excessive interest shall be deemed to be a partial prepayment of
         principal and treated hereunder as such, and, if the principal balance
         of the Term Note is paid in full, any remaining excess shall forthwith
         be paid to Company. In determining whether or not the interest paid or
         payable under any specific contingency exceeds the highest lawful rate,
         Company, and Sabre shall, to the maximum extent permitted under
         applicable law, (i) characterize any non-principal payment (other than
         payments which are expressly designated as
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         interest payments hereunder) as an expense, fee, or premium, rather
         than as interest, (ii) exclude voluntary prepayments and the effect
         thereof, and (iii) spread the total amount of interest throughout the
         entire contemplated term of the Term Note so that the interest rate is
         uniform throughout such term.

                  (c)      Parties Bound. This Agreement shall be binding upon
         and inure to the benefit of the parties hereto and their respective
         successors, assigns and legal representatives; provided, however, that
         Company may not, without the prior written consent of Sabre, assign any
         rights, powers, duties or obligations hereunder.

                  (d)      Expenses. Company will promptly pay all reasonable
         costs, fees and expenses paid or incurred by Sabre incident to this
         Agreement or incident to the collection of the Term Note hereunder
         (including the fees and expenses of counsel to Sabre).

                  (e)      Subsidiaries. For purposes of the representations,
         covenants and defaults described in SECTIONS 6 and 7 above (not
         including Sections 6(a) through (c), 6(g) and Schedule 7i), references
         to COMPANY shall include Company and each of its present and future
         direct and indirect subsidiaries.

                  (f)      Indemnity. Company shall indemnify Sabre, its
         affiliates, and their respective directors, officers, employees, and
         agents against all third party liabilities, losses, claims, expenses
         and costs resulting from or relating to the execution, delivery,
         enforcement, performance and administration of this Agreement and the
         Sabre Documents.

         THIS WRITTEN TERM NOTE AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN
THE PARTIES AND MAY NOT BE CONTRADICTED OR PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENT OF THE PARTIES.

         THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES [WITH REGARD
TO THE SUBJECT MATTER OF THIS AGREEMENT].

                                 COMPANY:

                                 800 TRAVEL SYSTEMS

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

                                 ACCEPTED:

                                 Sabre Inc.

                                 By
                                    -------------------------------------------
                                    Name
                                        ---------------------------------------
                                    Title
                                         --------------------------------------
<PAGE>   8

                        SCHEDULE 1 TO TERM NOTE AGREEMENT

                                  DEFINED TERMS

         ADVANCE means any amount disbursed by Sabre to Company under this Term
Note Agreement or by Sabre in accordance with, and to satisfy the obligations of
Company under, this Term Note Agreement.

         CHANGE IN CONTROL means the sale, pledge, or other transfer of an
ownership interest in Company representing more than 35% of the power to elect
directors or members of a similar governing body.

         CRS CONTRACT means the Sabre Subscriber Agreement dated December 1,
2001; as it may be amended or restated, between Company and Sabre.

         EVENT OF DEFAULT is defined in SECTION 8 of this Agreement.

         GAAP means generally accepted accounting principles, consistently
applied.

         SABRE INCENTIVE PAYMENTS means regularly recurring booking incentives,
including the Yearly Volume Threshold Incentive, to be paid or credited to
Company monthly under the CRS Contract (excluding CPBA incentives,anniversary
cash payments, cashable lines of credit, and conversion incentives), net of
amounts paid or owed by Company on recovery of equipment purchases and optional
upgrades and services.

         PAYMENT DATE means the date in each month that any Incentive Payment is
paid and if no Incentive Payment is paid, then the later of the last day of that
month or fourteen (14) days after written notice has been provided by Sabre to
Company that the Incentive Payment will not cover the Loan Payment and that a
separate payment will be due.

         PAYMENT/INCENTIVE RATIO means, as of any date of calculation, the ratio
of (a) the next month's payment of the Loan to (b) the average monthly Incentive
Payments to Company under the CRS Contract during the previous six-month period.

         PRIME RATE means the variable rate of interest established from time to
time by Bank of America, N.A. (or its successor) as its prime rate and set by
that bank as a general reference rate of interest charged by that bank.

         TERMINATION DATE means the later of 60 months from last advance or
January 30, 2006 (60 months from signing).

         SEC means the Securities and Exchange Commission.

         SABRE COLLATERAL means collectively all of the Collateral defined in
the security agreement supplement, and includes without limitation all accounts
receivable, payments and obligations now or hereafter owing to Company by Sabre
or any of its affiliates, the CRS Contract, and all Incentive Payments.

         SABRE DOCUMENTS means this Agreement, the documents listed on SCHEDULE
5 to this Agreement, the CRS Contract, and all other written supplements and
documents now or hereafter executed by Company to or for the benefit of Sabre
pursuant to or in connection with any of the foregoing, and all amendments and
restatements thereof.

         TAXES means any present or future taxes, duties, deductions,
withholdings, and other charges from time to time imposed by any taxing agency
or other governmental authority, excluding taxes on income of Sabre.
<PAGE>   9

         TERM NOTE means the cumulative value of the advances made to the
Company, which will not be more than $1,800,000, under this contract by Sabre

         FIXED CHARGES means, for Company, for any accounting period: (i)
interest expense and principal payments on all outstanding indebtedness, and
(ii) operating lease expenses.

         INTANGIBLE ASSETS means assets that are (i) deferred assets, other than
prepaid insurance and prepaid taxes, (ii) patents, copyrights, trademarks,
tradenames, franchises, goodwill, experimental expenses and other similar assets
which would be classified as intangible assets on a balance sheet, and (iii)
unamortized debt discount and expense.

         NET INCOME means, for any period, the net earnings (or loss) after
taxes of Company for such period determined in accordance with GAAP.

         TANGIBLE NET WORTH means the total shareholders' equity of Company,
less the aggregate book value of Intangible Assets.

         LOAN DATE The date that the first advance is provided under the Term
Note Agreement.
<PAGE>   10

                        SCHEDULE 5 TO TERM NOTE AGREEMENT

                     CONDITIONS PRECEDENT TO INITIAL ADVANCE

10.      Certificate of a duly authorized officer of Company, certifying the
         incumbency of officers signing this Agreement, and the accuracy of each
         of the following (which shall be attached to the certificate):

                  (a)      Resolutions of the Board of Directors of Company,
         approving the execution, delivery and performance of this Agreement and
         other Sabre Documents;

                  (b)      Articles of Incorporation of Company; and

                  (c)      Bylaws of Company.

         2.       If requested by Sabre, an opinion of counsel for the Company
subject to customary qualifications and exceptions for similar lending
transactions, in form and substance reasonably satisfactory to Sabre.

         3.       Evidence of the existence and good standing of Company in the
jurisdiction of its incorporation/organization.

11.      Financing statements, duly executed by the Company, in favor of Sabre,
         covering the Sabre Collateral.

         5.       Utilizing the SEC Edgar System, make available to Sabre copies
of the balance sheet of Company as of the close of the previous fiscal year of
Company, and statements of income and retained earnings and changes in cash flow
of Company for such fiscal year, in each case setting forth in comparative form
the figures for the preceding fiscal year, all in reasonable detail and
accompanied by an opinion thereon (which shall not be qualified by reason of any
limitation imposed by Company) of independent public accountants of recognized
national standings selected by Company and satisfactory to Sabre, to the effect
that such financial statements have been prepared in accordance with GAAP and
conformed to SEC regulations (except for changes in which such accountants
concur), and otherwise being reasonably satisfactory to Sabre; and

         6.       Such other documents and instruments as Sabre shall reasonably
request.
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                           SCHEDULE 7(i) TO AGREEMENT

                              ADDITIONAL COVENANTS

         1.       Negative Covenants. Until payment in full of the amounts due
under the Term Note and all other obligations and liabilities of Company
hereunder, Company covenants that it shall not (unless Sabre otherwise consents
in writing):

         (a)      create, incur, assume or guarantee any indebtedness for
borrowed money, except for (i) the Term Note, (ii) debt (and renewals and
extensions thereof) reflected on Company's most recent balance sheet, (iii) debt
created, incurred or assumed in any fiscal year not to exceed in the aggregate
the total of $100,000:(except for accounts payable assumed in the normal course
of business) or sell any of its accounts receivable, with or without recourse

         (b)      liquidate, dissolve or reorganize;; or make any other
substantial change in its capitalization or its business;

         (c)      pay any dividends on any of its outstanding stock, or
purchase, redeem or repurchase any of its stock;

         (d)      sell all or a substantial part of its assets used or useful in
its business, except in the ordinary course of business; or sell any of its
assets to any other person, firm or corporation with the agreement that such
assets shall be leased back to Company; or sell or transfer any assets for less
than fair value;

         (e)      purchase or acquire, directly or indirectly, any promissory
notes, stock or securities of any other person, firm or corporation, that would
result in lowering its Tangible Net Worth Below $1.4 million.

         (f)      permit any change of its CEO.

2.       Financial Covenants.

         (a)      If Company owns consolidated subsidiaries, then the foregoing
financial attributes shall be determined on a consolidated basis, in accordance
with GAAP.

         (b)      Until payment in full of the amounts due under the Term Note
and all other obligations and liabilities of Company hereunder, Company
covenants that it shall not (unless Sabre otherwise consents in writing), at any
time:

                  (i)      permit the ratio of its Current Assets to its Current
                           Liabilities to be less than 1.0;

                  (ii)     permit its Tangible Net Worth to be less than $1.4
                           million;

                  (iii)    permit the ratio of its Total Liabilities to Tangible
                           Net Worth to be more than 2.5;

   IF COMPANY HAS A POSITIVE INCOME IN ANY QUARTER, ITEMS (II) ABOVE WILL BE
    INCREASED BY HALF THE NET INCOME, AND ITEM (III) ABOVE WILL BE DECREASED
                                PROPORTIONATELY.
<PAGE>   12

                   EXHIBIT A TO TERM NOTE TERM NOTE AGREEMENT

                          SECURITY AGREEMENT SUPPLEMENT

         THIS EXHIBIT A TO TERM NOTE AGREEMENT is attached to and forms a part
of that certain Security Supplement (the SECURITY SUPPLEMENT) dated January 22,
2001 between 800 Travel Systems (COMPANY) and Sabre Inc. (SABRE). Unless
otherwise defined in this Security Supplement, terms used in this Security
Supplement have the meanings provided in the Term Note Agreement.

         1.       GRANT OF SECURITY INTEREST. Company grants to Sabre a
perfected first priority security interest and lien in the following
(COLLATERAL):

         (A)      all accounts receivable, credits, and payments now or
hereafter arising or accruing under, or owing to Company (i) by Sabre or any of
its Affiliates under, the CRS Contract, or similar agreements to which Sabre or
any of its Affiliates are parties, whether or not other persons are also parties
(including without limitation, Incentive Payments), whether existing as of the
date hereof or arising hereafter, as such agreements shall be in effect from
time to time and as the same may be amended, modified, or replaced; or (ii) by
any other party, under any agreement, including without limitation incentive
payments, override payments, and commissions, whether existing as of the date
hereof or arising hereafter, as such agreements shall be in effect from time to
time and as the same may be amended, modified, or replaced and

         (B)      all substitutes and replacements for, accessions, attachments
and other additions to, books, records, documents, computer records, describing
or used in connection with, and proceeds and products of, the above Collateral,
and other documents, general intangibles, accounts and chattel paper arising
from or related to the above Collateral.

         2.       DESCRIPTION OF OBLIGATIONS. This Security Supplement and the
security interest granted hereunder secures all present and future obligations
whether joint, several, or joint and several (collectively, the OBLIGATION) to
Sabre of Company, including without limitation (a) Company's obligations to
repay the Term Note; (b) all costs incurred by Sabre to obtain, preserve,
perfect and enforce this Security Supplement and maintain, preserve, collect and
enforce the Collateral; (c) all reasonable expenses of Sabre, including fees and
expenses of Sabre's counsel, incident to the enforcement of payment of all
obligations of Company by any action or participation in, or in connection with
a case or proceeding under the bankruptcy code, or any successor statute
thereto; (d) any and all other indebtedness or liability, of whatever kind or
character, which is now owing or that may hereafter become owing to Sabre by
Company, whether such indebtedness or liability is absolute or contingent, joint
and/or several, secured or unsecured, direct or indirect, whether such
indebtedness is incurred as a principal or as a surety, endorser, guarantor,
accommodation party or otherwise or as a member of a partnership, joint venture,
trust or other business group, whether such indebtedness or liability arises by
operation of law or otherwise or is evidenced by note, open account, overdraft,
endorsement, surety agreement, guaranty, or otherwise, and whether such
indebtedness was originally incurred to Sabre or was later purchased by Sabre
(it being contemplated that such parties may become further indebted to Sabre);
and (e) any renewals, extensions, replacements, modifications, increases, or
reinstatements of any of the above-described indebtedness.

         3.       RIGHTS AND REMEDIES. Upon the occurrence of an Event of
Default, Sabre will have any and all rights and remedies described in the Term
Note Agreement or under any other applicable law or agreement, including,
without limitation, all rights and remedies of a secured creditor under Article
9 of the Uniform Commercial Code.

         4.       LIEN PRIORITY. Until full payment and performance of the
Obligation and termination or expiration of any obligation or commitment of
Sabre to make advances or Term Notes to Company,
<PAGE>   13

Company shall defend the Collateral against all claims and demands of all
persons at any time claiming any interest therein adverse to Sabre. Debtor shall
keep the Collateral free from all liens and security interests except those for
taxes not yet due and the security interest hereby created.

         5.       FURTHER ASSURANCES. Company, upon the request of Sabre, shall
execute, acknowledge, deliver, and record such further instruments and do such
further acts as may be necessary, desirable, or proper to carry out the purposes
of the Sabre Documents, maintain and perfect the security interest created
hereunder, and to subject to the liens and security interests created thereby
any property intended by the terms thereof to be covered thereby, including
specifically, but without limitation, any renewals, additions, substitutions,
replacements, improvements or appurtenances to the Collateral.

         IN WITNESS WHEREOF, Company has caused this Security Supplement to be
duly executed and delivered by its duly authorized officer as of __________,
____, 2000.

                                     ------------------------------------------

                                     By
                                       ----------------------------------------
                                       Name
                                             ----------------------------------
                                       Title
                                             ----------------------------------
<PAGE>   14

                        EXHIBIT B TO TERM NOTE AGREEMENT

                         FORM OF COMPLIANCE CERTIFICATE

DATE:                         _________________,

FROM:                         800 Travel Systems (COMPANY)

TO:                      Sabre Inc. (SABRE)

         This certificate is delivered under the Term Note Agreement, dated as
of January 22, 2001 (as amended, modified, supplemented, or restated from time
to time, the TERM NOTE AGREEMENT), between Company and Sabre. Capitalized terms
used herein and not otherwise defined herein shall have the meaning given to
such terms in the Term Note Agreement. I certify to Sabre that:

         (a)      I am an officer of Company in the position(s) set forth under
my signature below;

         (b)      the Financial Statements of Company available through the SEC
Edgar System were prepared in accordance with GAAP and conformed to SEC
regulations, and present fairly in all material respects the consolidated
financial condition and results of operations of Company as of, and for the
(three, six, or nine months, or fiscal year) ended on, , (the SUBJECT PERIOD)
[(subject only to normal year-end audit adjustments)]; and

         (c)      a review of the activities of Company during the Subject
Period has been made under my supervision with a view to determining whether,
during the Subject Period, Company has kept, observed, performed, and fulfilled
all of their respective obligations under the Sabre Documents, and during the
Subject Period, (i) Company kept, observed, performed, and fulfilled each and
every covenant and condition of the Sabre Documents (except for the deviations,
if any, set forth on ANNEX A to this certificate) in all material respects, and
(ii) no Event of Default (nor any potential Event of Default) has occurred which
has not been cured or waived (except the Events of Default or potential Events
of Default, if any, described on ANNEX A to this Certificate).

                                   By
                                     ------------------------------------------
                                     Name
                                           ------------------------------------
                                     Title
                                           ------------------------------------
<PAGE>   15

                        ANNEX A TO COMPLIANCE CERTIFICATE

                      DEVIATIONS FROM TERM NOTE DOCUMENTS/
                 EVENTS OF DEFAULT OR POTENTIAL EVENT OF DEFAULT

                              (If none, so state.)

                           (To be Provided by Company)
<PAGE>   16

                        ANNEX B TO COMPLIANCE CERTIFICATE

COMPLIANCE WITH FINANCIAL COVENANTS IN SCHEDULE 7(I) OF THE TERM NOTE AGREEMENT

COMPLIANCE WITH FINANCIAL COVENANTS IN [PRIMARY LENDER TERM NOTE AGREEMENT]

         [Unless otherwise indicated, all calculations are made on a
consolidated basis for Company at the end of the Subject Period]<PAGE>   1
                                                                   EXHIBIT 10.31

                                                                  CONFORMED COPY

                       LIMITED LIABILITY COMPANY INTEREST
                               PURCHASE AGREEMENT

         THIS LIMITED LIABILITY COMPANY INTEREST PURCHASE AGREEMENT, dated as of
November 30, 2000 (this "Agreement"), is made among JV INVESTOR, LLC, a Delaware
limited liability company ("Original Investor"), HEALTHTRUST, INC.-THE HOSPITAL
COMPANY, a Delaware corporation ("HTI"), and each of the investors listed on
Schedule I hereto (collectively, the "Investors").

                                    RECITALS

         WHEREAS, each of Original Investor and HealthTrust MOB, LLC, a Delaware
limited liability company ("HTI Sub"), has contributed certain real property
assets to the capital of Medcap Properties, LLC, a Delaware limited liability
company (the "Company"), as described more completely in a Contribution and Sale
Agreement, dated as of July 1, 2000, among Original Investor, HTI Sub, the
Company, HTI and HCA-The Healthcare Company, a Delaware corporation ("HCA") (as
amended, modified or supplemented from time to time, the "Original Contribution
Agreement"); and

         WHEREAS, in exchange for the capital contribution made by Original
Investor and pursuant to a Limited Liability Company Agreement, dated as of May
8, 2000, among Original Investor, HTI Sub and the other parties named therein
(the "Original Operating Agreement"; as amended and restated as of the date
hereof as described below, and as further amended, modified, supplemented or
restated from time to time, the "Operating Agreement"), the Company issued to
Original Investor 52,989 of its Class A Units (as defined in the Operating
Agreement); and

         WHEREAS, the Investors desire to purchase from Original Investor, and
Original Investor desires to sell to the Investors, an aggregate of 51,336 of
the Class A Units, on the terms and subject to the conditions set forth herein;
and

         WHEREAS, concurrently with the execution of this Agreement, Original
Investor, HTI Sub, the Investors and certain other parties will enter into an
Amended and Restated Operating Agreement, dated as of the date hereof, which
amends and restates the Original Operating Agreement in its entirety and
provides for the admission of the Investors as members of the Company, all as
more completely set forth therein.

         NOW, THEREFORE, in consideration of the foregoing and the covenants,
agreements, representations and warranties contained in this Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

<PAGE>   2

                                   ARTICLE I

                                  DEFINED TERMS

         1.1 Defined Terms. Capitalized terms used and not otherwise defined in
this Agreement have the meanings given to them in the Operating Agreement. In
addition, the following capitalized terms have the meanings set forth below:

         "Class A Units" has the meaning given to it in the recitals to this
Agreement.

         "Closing" has the meaning given to it in Section 2.2.

         "Closing Date" has the meaning given to it in Section 2.2.

         "Company" has the meaning given to it in the introductory paragraph of
this Agreement.

         "Fundamental Representations" has the meaning given to it in Section
6.1.

         "GECC Loan Agreement" means the Loan Agreement, dated as of July 17,
2000, between General Electric Capital Corporation, as lender, and the
Subsidiaries of the Company named therein, as borrowers, as amended, modified,
supplemented or restated from time to time.

         "Governmental Authority" has the meaning given to it in the Original
Contribution Agreement.

         "HCA" has the meaning given to it in the recitals to this Agreement.

         "HTI Sub" has the meaning given to it in the recitals to this
Agreement.

         "Indemnified Party" has the meaning given to it in Section 6.4(a).

         "Indemnifying Party" has the meaning given to it in Section 6.4(a).

         "Investment Documents" means, collectively, this Agreement, the
Registration Rights Agreement, the Operating Agreement, and all other documents
and instruments executed and certificates delivered, in each case, by or on
behalf of the Company, HTI, Original Investor or any Investor in connection with
the transactions contemplated by this Agreement.

         "Investors" has the meaning given to it in the introductory paragraph
of this Agreement.

         "Lien" means any security interest, lien, pledge, claim, charge,
escrow, encumbrance, option, right of first offer, right of first refusal,
preemptive right, mortgage, indenture, security agreement or other similar
agreement, arrangement, contract, commitment, understanding or obligation.

         "Material Adverse Effect" means a material adverse effect on (i) the
business, condition (financial or otherwise), operations, business or assets of
the Company and its Subsidiaries, taken as a whole, or (ii) the ability of
Original Investor, HTI or the Company to perform its obligations under this
Agreement or any of the other Investment Documents to which it is a party.

                                       2
<PAGE>   3

         "Operating Agreement" has the meaning given to it in the recitals to
this Agreement.

         "Original Closing Date" mean the Closing Date (as defined in the
Original Contribution Agreement).

         "Original Contribution Agreement" has the meaning given to it in the
recitals to this Agreement.

         "Original Investor" has the meaning given to it in the introductory
paragraph of this Agreement.

         "Purchased Units" has the meaning given to it in Section 2.1.

         "Registration Rights Agreement" means the Registration Rights
Agreement, dated as of the date hereof, among the Company and the Investors, as
amended, modified, supplemented or restated from time to time.

         "Requirement of Law" means, with respect to any Person, any statute,
law, treaty, rule, regulation, order, decree, writ, injunction or determination
of any arbitrator or court or other Governmental Authority, in each case
applicable to or binding upon such Person or any of its property or to which
such Person or any of its property is subject.

         "Securities Act" means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.

         "Subsidiaries" has the meaning given to it in Section 3.5.

         "Texas L.P." means Medical Office Buildings of Texas, L.P., a Delaware
limited partnership.

         "Transaction Documents" means, collectively, the Original Contribution
Agreement, the Operations and Support Agreements, the Development and
Non-Compete Agreement, the Capital Improvement Fund Agreement, the Management
Agreement and the Investment Documents.

                                   ARTICLE II

                           PURCHASE AND SALE OF UNITS

         2.1 Purchase and Sale of Class A Units. On the terms and subject to the
conditions set forth herein, Original Investor agrees to sell to each Investor,
and each Investor agrees to purchase from Original Investor, at the Closing,
that number of Class A Units set forth opposite such Investor's name on Schedule
I for the purchase price set forth opposite such Investor's name on Schedule I
(all of the Class A Units being purchased pursuant to this Agreement,
collectively, the "Purchased Units").

                                       3
<PAGE>   4

         2.2 Closing. The closing (the "Closing") of the purchase and sale of
the Purchased Units and the consummation of the related transactions
contemplated hereby shall, subject to the satisfaction or waiver of the
applicable conditions set forth in Article V, take place at the offices of
Waller Lansden Dortch & Davis, 511 Union Street, Suite 2100, Nashville,
Tennessee, at 10:00 a.m., local time, on November 30, 2000 or at such other
place, time and/or date as the parties hereto may agree in writing (the "Closing
Date"). At the Closing, each Investor shall deliver to Original Investor the
aggregate purchase price for the Purchased Units being purchased by it
hereunder, by wire transfer of immediately available funds to an account
designated in writing by Original Investor at least one business day prior to
the Closing Date. The parties acknowledge that the Company has not issued and
does not intend to issue certificates representing the Class A Units and that
Original Investor shall not have any obligation to deliver certificates to the
Investors at the Closing; provided that Original Investor agrees to deliver such
other documents and instruments as any Investor may reasonably request to
evidence the Purchased Units being purchased by such Investor hereunder and to
give further effect to the transactions contemplated hereby.

                                  ARTICLE III

           REPRESENTATIONS AND WARRANTIES OF ORIGINAL INVESTOR AND HTI

         Original Investor and HTI represent and warrant to the Investors as
follows:

         3.1 Organization, Power and Authority. Each of the Company and its
Subsidiaries (other than Texas L.P.) is a limited liability company duly formed,
validly existing and in good standing under the laws of the State of Delaware
and is duly qualified as a foreign limited liability company and is in good
standing in each jurisdiction where the nature of its business or the ownership
of its properties requires it to be so qualified. Texas L.P. is a limited
partnership duly formed, validly existing and in good standing under the laws of
the State of Delaware and is duly qualified as a foreign limited partnership and
is in good standing in each jurisdiction where the nature of its business or the
ownership of its properties requires it to be so qualified. Each of the Company
and its Subsidiaries has all requisite power and authority to own, lease and
operate its properties and to engage in its business as presently conducted and
as presently proposed to be conducted, and the Company has all requisite power
and authority to execute, deliver and perform this Agreement and each of the
other Investment Documents and to consummate the transactions contemplated
hereby and thereby. Original Investor is a limited liability company duly
formed, validly existing and in good standing under the laws of the State of
Delaware and has all requisite power and authority to execute, deliver and
perform this Agreement and each of the other Investment Documents to which it is
a party and to consummate the transactions contemplated hereby and thereby. HTI
is a corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware and has all requisite power and authority to
execute, deliver and perform this Agreement and each of the other Investment
Documents to which it is a party and to consummate the transactions contemplated
hereby and thereby.

         3.2 Authorization, Execution and Enforceability. The execution,
delivery and performance by the Company of each of the Investment Documents to
which it is a party has been authorized by all requisite action on the part of
the Company. Each of the Investment

                                       4
<PAGE>   5

Documents to which the Company is a party has been duly and validly executed and
delivered by the Company and constitutes the legal, valid and binding obligation
of the Company, enforceable against it in accordance with its terms. The
execution, delivery and performance by each of Original Investor and HTI of this
Agreement and each of the other Investment Documents to which it is a party has
been authorized by all requisite action on the part of Original Investor and
HTI, respectively. Each of this Agreement and the other Investment Documents to
which Original Investor or HTI is a party has been duly and validly executed and
delivered by Original Investor and HTI, respectively, and constitutes the legal,
valid and binding obligation of Original Investor and HTI, respectively,
enforceable against each of them in accordance with its terms.

         3.3 No Violation. The execution, delivery and performance by the
Company of each of the Investment Documents to which it is a party, and
compliance by it with the terms thereof, do not and will not (i) violate any
provision of its certificate of formation or the Operating Agreement, (ii)
violate or conflict with any Requirement of Law applicable to the Company or any
of its Subsidiaries, or (iii) conflict with, result in a breach of or constitute
(with notice, lapse of time or both) a default under, or result in the creation
of any charge, claim, encumbrance or other Lien on any asset or property of the
Company or any of its Subsidiaries pursuant to, any agreement, contract,
indenture or other instrument to which the Company or any of its Subsidiaries is
a party, by which it or any of its Subsidiaries is bound or to which it or any
of its Subsidiaries is subject. The execution, delivery and performance by each
of Original Investor and HTI of this Agreement and each of the other Investment
Documents to which it is a party, and compliance by each of them with the terms
hereof and thereof, do not and will not (i) violate any provision of its
certificate of formation, operating agreement, certificate of incorporation or
bylaws, as applicable, (ii) violate or conflict with any Requirement of Law
applicable to it, or (iii) conflict with, result in a breach of or constitute
(with notice, lapse of time or both) a default under, any agreement, contract,
indenture or other instrument to which it is a party, by which it is bound or to
which it is subject.

         3.4 Governmental Authorization; Third-Party Consents. No consent,
approval, authorization or other action by, notice to, or registration or filing
with, any Governmental Authority, third party or other Person is or will be
required as a condition to or otherwise in connection with the due execution,
delivery and performance by the Company of each of the Investment Documents to
which it is a party or the legality, validity or enforceability thereof, other
than the consents and approvals described on Schedule 3.4(a), each of which has
been obtained and is in full force and effect. No consent, approval,
authorization or other action by, notice to, or registration or filing with, any
Governmental Authority, third party or other Person is or will be required as a
condition to or otherwise in connection with the due execution, delivery and
performance by Original Investor or HTI of this Agreement and each of the other
Investment Documents to which it is a party or the legality, validity or
enforceability hereof or thereof, other than the consents and approvals
described on Schedule 3.4(b), each of which has been obtained and is in full
force and effect.

         3.5 Subsidiaries. Schedule 3.5 contains a chart showing all of the
Subsidiaries of the Company as of the date hereof (collectively, the
"Subsidiaries") and, as to each such Subsidiary, the percentage ownership
(direct and indirect) of the Company in its membership interests and each direct
owner thereof. All of the outstanding membership interests in each Subsidiary
are duly authorized, validly issued, fully paid and nonassessable, and there are
no warrants, options,

                                       5
<PAGE>   6

rights of acquisition or purchase (including preemptive, anti-dilution or
similar rights), or rights of conversion, call or exchange, with respect to any
membership interests in or equity securities of any Subsidiary or pursuant to
which any Subsidiary is or may become obligated to issue any membership
interests or equity securities.

         3.6 Capitalization. Exhibit C to the Operating Agreement sets forth, as
of the date hereof and after giving effect to the consummation of the
transactions contemplated by this Agreement, (i) the number of issued and
outstanding Units of each class and (ii) the record owners of all such Units and
the number of Units held by each. The Purchased Units have been duly authorized
by all requisite action on the part of the Company, are validly issued, fully
paid and nonassessable and have been issued in compliance with the registration
and qualification requirements of all applicable federal and state securities
laws. Except as set forth in (a) the Operating Agreement and the Restricted
Equity Interest Agreements between the Company and each member of Management
(the "Restricted Equity Interest Agreements"), there are no warrants, options,
rights of acquisition or purchase (including preemptive, anti-dilution or
similar rights), or rights of conversion, call or exchange, with respect to any
membership interests in or equity securities of the Company or pursuant to which
the Company is or may become obligated to issue any membership interests or
equity securities, (b) the Operating Agreement and the Restricted Equity
Interest Agreements, the Company has no obligation (contingent or otherwise) to
purchase, redeem or otherwise acquire any of its membership interests or equity
securities or any interest therein or to make any distribution in respect
thereof, and (c) the Registration Rights Agreement, the Operating Agreement and
the Restricted Equity Interest Agreements, there is no agreement, restriction or
encumbrance (including any right of first refusal, right of first offer, proxy,
voting agreement, registration rights agreement, equityholders' agreement or
similar agreement) with respect to the purchase, sale or voting of any
membership interests in or equity securities of the Company (whether outstanding
or issuable upon conversion, exchange or exercise of outstanding securities).

         3.7 Litigation. There are no actions, investigations, suits or
proceedings pending or, to the knowledge of Original Investor and HTI,
threatened, at law, in equity or in arbitration, before any court, other
Governmental Authority or other Person, (i) against or affecting the Company or
any of its Subsidiaries or any of their respective properties that would, if
adversely determined, be reasonably likely to have a Material Adverse Effect,
except as set forth on Schedule 4.13 to the Original Contribution Agreement, or
(ii) with respect to this Agreement, any of the other Investment Documents or
any of the transactions contemplated hereby or thereby.

         3.8 Financial Statements. The Company has heretofore furnished to the
Investors copies of the unaudited consolidated balance sheet of the Company and
its Subsidiaries as of August 31, 2001, and the related statements of income,
cash flows and members' equity for the two-month period then ended. Such
financial statements have been prepared in accordance with generally accepted
accounting principles (subject to the absence of notes required by generally
accepted accounting principles and to normal year-end adjustments) and present
fairly in all material respects the consolidated financial condition of the
Company and its Subsidiaries as of the date thereof and the consolidated results
of operations of the Company and its Subsidiaries for the period then ended.
Except as fully reflected or reserved against in such financial statements and
except as would not be reasonably likely to have a Material Adverse Effect,
there

                                       6
<PAGE>   7

are no liabilities or obligations with respect to the Company and its
Subsidiaries of any nature whatsoever (whether absolute, contingent or otherwise
and whether or not due), other than trade payables incurred in the ordinary
course of business.

         3.9 No Material Adverse Change. Since August 31, 2000, there has not
been any material adverse change in the business, condition (financial or
otherwise), operations, business or assets of the Company and its Subsidiaries,
taken as a whole.

         3.10 Compliance with Laws. Each of the Company and its Subsidiaries is
in compliance with all applicable Requirements of Law in respect of the conduct
of its business and the ownership and operation of its properties, except for
(i) such Requirements of Law the failure to comply with which, individually or
in the aggregate, would not be reasonably likely to have a Material Adverse
Effect, and (ii) violations of Requirements of Law existing on the Original
Closing Date or resulting from the contribution of assets to the Company
pursuant to the Original Contribution Agreement, which violations are described
on Schedule 3.10.

         3.11 Employee Benefit Plans. Neither the Company nor any of its
Subsidiaries has any obligation or liability (whether actual or contingent,
direct or indirect) in respect of any "employee benefit plan" within the meaning
of such term under Section 3(3) of the Employment Retirement Income Security Act
of 1974, as amended. After giving effect to the transactions contemplated by
this Agreement, neither the Company nor any of its Subsidiaries will be a member
of a "controlled group of corporations" with, under "common control" with, or a
member of the same "affiliated service group" with, any Person other than the
Company or any of its Subsidiaries, within the meaning of such terms under
Sections 414(b), 414(c) or 414(m) of the Code.

         3.12 Private Offering. The original offering, issuance and sale of the
Purchased Units by the Company to Original Investor was exempt from registration
under the Securities Act and from the registration and qualification
requirements of applicable state securities laws. No form of general
solicitation or general advertising was used by the Company or Original Investor
or its representatives in connection with the offer or sale of the Purchased
Units. Neither the Company nor Original Investor, or anyone acting on behalf of
either, has made any offer to sell the Purchased Units in such a manner as to
require the registration of the Purchased Units under the Securities Act or the
registration and qualification of the Purchased Units under any state securities
laws. Assuming the accuracy of the representations and warranties of the
Investors set forth in Article IV, the offering and sale of the Purchased Units
by Original Investor to the Investors is exempt from registration under the
Securities Act and from the registration and qualification requirements of
applicable state securities laws.

         3.13 Broker's, Finder's Fees. There are no brokerage fees or
commissions, finder's fees or similar fees or commissions payable by the Company
or any of its Subsidiaries in connection with the transactions contemplated by
this Agreement.

         3.14 GECC Loan Agreement. Each of the representations and warranties
contained in Article 6 of the GECC Loan Agreement (other than in Sections 6.1,
6.2, 6.3(1), 6.9, 6.11, 6.12 and 6.13 thereof) is true and correct as of the
date hereof as if originally made as of the date hereof; provided that, to the
extent that any such representations and warranties are qualified as

                                       7
<PAGE>   8

to the knowledge of the Borrowers (as defined in the GECC Loan Agreement), then
for purposes of this Section and to such extent, such representations and
warranties are made only to the knowledge of Original Investor and HTI.

         3.15 Original Contribution Agreement.

         (a) Except as set forth on Schedule 3.15(a), the transactions
contemplated by the Original Contribution Agreement (including the transactions
described in Section 3.2 thereof) have been consummated in accordance with the
terms of the Original Contribution Agreement, without any amendment or waiver of
any material term thereof.

         (b) Except as set forth on Schedule 3.15(b), each of the
representations and warranties contained in Article 4 of the Original
Contribution Agreement (other than in Sections 4.1, 4.4, 4.5, 4.6, 4.8, 4.12 and
4.21 thereof) is true and correct in all material respects as of the date hereof
as if originally made as of the date hereof; provided that, to the extent that
any such representations and warranties are qualified as to the knowledge of
HTI, then for purposes of this Section and to such extent, such representations
and warranties are made only to the knowledge of Original Investor and HTI. Each
of the rent rolls dated as of October 31, 2000 (the "Current Rent Rolls") made
available to the Investors is true and correct as of October 31, 2000 in all
material respects. Except as set forth on the Current Rent Rolls, the
Receivables Report dated as of September 30, 2000 attached hereto as Schedule
3.15(c), or Schedules 2.3(d), 2.3(g), 2.3(m) or 4.20(a) of the Original
Contribution Agreement, to the knowledge of Original Investor and HTI (i) each
Tenant Lease is a valid and subsisting agreement, in full force and effect, in
accordance with its terms; (ii) no material default by the landlord thereunder
exists and (iii) as of September 30, 2000, no monetary default by a Tenant under
its Tenant Lease has occurred or exists that remains uncured.

         (c) The aggregate Closing Costs (as defined in the Original
Contribution Agreement) will not exceed $11,500,000.

         3.16 Title to Purchased Units. Original Investor is the sole owner of
and has good and valid title to the Purchased Units, and upon consummation of
the transactions contemplated by this Agreement, Original Investor will have
transferred to each Investor, and each Investor will have acquired from Original
Investor, good and valid title to the Purchased Units being purchased by it, in
each case free and clear of all Liens of any nature whatsoever.

                                   ARTICLE IV

                 REPRESENTATIONS AND WARRANTIES OF THE INVESTORS

         Each Investor represents and warrants to Original Investor as to itself
severally, and not jointly as to any other Investor, as follows:

         4.1 Organization, Power and Authority. Such Investor (if it is a Person
other than an individual) is duly incorporated or formed, validly existing and
in good standing under the laws of its jurisdiction of incorporation or
formation and has all requisite power and authority to execute, deliver and
perform this Agreement and the other Investment Documents to which it is a

                                       8
<PAGE>   9

party and to consummate the transactions contemplated hereby and thereby. Such
Investor (if he is an individual) has the power and capacity to execute, deliver
and perform this Agreement and the other Investment Documents to which he is a
party and to consummate the transactions contemplated hereby and thereby.

         4.2 Authorization, Execution and Enforceability. The execution,
delivery and performance by such Investor of this Agreement and the other
Investment Documents to which it is a party has been authorized by all requisite
action on its part. Each of this Agreement and the other Investment Documents to
which such Investor is a party has been duly and validly executed and delivered
by such Investor and constitutes the legal, valid and binding obligation of such
Investor, enforceable against it in accordance with its terms.

         4.3 Investment Representations. Solely for purposes of establishing
that the offering and sale of Purchased Units to such Investor is exempt from
the registration requirements of the Securities Act and comparable provisions of
applicable state securities laws and not in any way to mitigate the
responsibility or liability of HTI or Original Investor for any breach of the
representations and warranties made by it in this Agreement, on which such
Investor is relying in connection with its decision to invest in the Company:

         (a) Such Investor is acquiring the Purchased Units hereunder for its
own account, for investment and not with a view to the distribution thereof in
violation of the Securities Act or applicable state securities laws.

         (b) Such Investor understands that (i) the offering and sale of
Purchased Units have not been registered under the Securities Act or applicable
state securities laws by reason of their issuance by the Company, and subsequent
sale by Original Investor, in transactions exempt from the registration
requirements of the Securities Act and applicable state securities laws, and
(ii) the Purchased Units must be held by such Investor indefinitely unless a
subsequent disposition thereof is registered under the Securities Act and
applicable state securities laws or is exempt from registration.

         (c) Such Investor further understands that the exemption from
registration afforded by Rule 144 promulgated under the Securities Act depends
on the satisfaction of various conditions, and that, if applicable, Rule 144 may
only afford the basis for sales of Purchased Units acquired hereunder only in
limited amounts.

         (d) Such Investor has not employed any broker or finder in connection
with the transactions contemplated by this Agreement.

         (e) Such Investor is an "accredited investor" (as defined in Rule
501(a) of Regulation D promulgated under the Securities Act). The Company has
made available to such Investor or its representatives all agreements,
documents, records and books that such Investor has requested relating to an
investment in the Purchased Units which may be acquired by such Investor
hereunder. Such Investor has had an opportunity to ask questions of, and receive
answers from, representatives acting on behalf of the Company concerning the
terms and conditions of this investment. Such Investor has such knowledge and
experience in financial and business matters that it is capable of evaluating
the risks and merits of this investment. Such Investor's

                                       9
<PAGE>   10

representations in this subsection shall in no way limit the enforceability of
any representations made by Original Investor or the Company in any of the
Investment Documents.

         (f) The state in which any offer to purchase shares hereunder was made
to or accepted by such Investor is the state shown as the Investor's address on
Schedule I.

         (g) Such Investor was not formed for the purpose of investing solely in
the Purchased Units that may be acquired hereunder.

                                   ARTICLE V

                              CONDITIONS TO CLOSING

         5.1 Conditions to Obligations of the Investors. The obligation of each
Investor to purchase and pay for the Purchased Units being purchased by it
hereunder at the Closing is subject to the satisfaction, or waiver by such
Investor, of each of the following conditions on or prior to the Closing Date:

         (a) Representations and Warranties; Compliance with this Agreement. The
representations and warranties contained in Article III shall be true and
correct in all material respects on and as of the Closing Date with the same
effect as though such representations and warranties had been made on and as of
the Closing Date (provided, however, that if any portion of any representation
or warranty is already qualified by materiality, then for purposes of
determining whether this Section 5.1(a) has been satisfied with respect to such
portion of such representation or warranty, such portion of such representation
or warranty as so qualified shall be true and correct in all respects); each of
Original Investor and the Company shall have performed and complied in all
material respects with all agreements and conditions contained in this Agreement
that are required to be performed or complied with by it on or prior to the
Closing Date; and the Investors shall have received a certificate of the
president, chief executive officer or chief financial officer of each of
Original Investor and the Company to the foregoing effect.

         (b) Consents and Approvals. All consents, approvals, authorizations or
other actions by, notices to, or registrations or filings with, Governmental
Authorities, third parties or other Persons that are required or desirable as a
condition to or otherwise in connection with the execution, delivery and
performance of this Agreement and each of the other Investment Documents by the
Company, Original Investor or HTI or the legality, validity or enforceability
hereof or thereof shall have been obtained and be in full force and effect, and
the Investors shall have received copies thereof.

         (c) No Litigation, Proceedings, etc. No action, proceeding,
investigation, regulation or legislation shall have been instituted, threatened
or proposed before any court, Governmental Authority or other Person, no order,
injunction or decree shall have been entered or enacted by any court or other
Governmental Authority, and no condition shall exist under any Requirement of
Law, in each case that seeks to or that would enjoin, restrain or prohibit, or
impose materially adverse conditions upon, this Agreement or any of the other
Transaction Documents, the purchase of the Purchased Units by the Investors
hereunder, or any of the transactions

                                       10
<PAGE>   11

contemplated hereby or thereby, or that could reasonably be expected to have a
Material Adverse Effect.

         (d) Investment Documents. The Operating Agreement and the Registration
Rights Agreement shall have been executed and delivered by all parties thereto
other than the Investors.

         (e) Transaction Documents. Any amendments or modifications to or
restatements of any of the Transaction Documents (other than the Investment
Documents) requested by any of the Investors shall have been executed and
delivered by the parties thereto; each Transaction Document (including the
Investment Documents) shall be in form and substance satisfactory to the
Investors and shall be in full force and effect and enforceable against the
parties thereto in accordance with its terms; and each Investor shall have
received true, complete and correct copies of the Transaction Documents and such
other documents as it shall have reasonably requested in connection with the
transactions contemplated hereby.

         (f) Supporting Documents. The Investors shall have received the
following:

             (i) a good standing certificate as of a recent date as to each of
         the Company and Original Investor, from of the Secretary of State of
         Delaware;

             (ii) a certificate of the secretary or an assistant secretary of
         the Company, in form and substance reasonably satisfactory to the
         Investors, dated as of the Closing Date and certifying (A) that
         attached thereto are true, correct and complete copies of the
         Certificate of Formation of the Company, as certified by the Secretary
         of State of Delaware as of a recent date, and the Operating Agreement,
         each as in effect on the date of such certification, and that each has
         not been amended except as reflected therein and remains in full force
         and effect, (B) that attached thereto is a true, correct and complete
         copy of the resolutions adopted by the Board of Governors of the
         Company authorizing the execution, delivery and performance of this
         Agreement and the other Investment Documents, and that such resolutions
         remain in full force and effect, and (C) as to the incumbency and
         specimen signature of all officers of the Company executing this
         Agreement or any of the other Investment Documents or any other
         document, certificate or instrument furnished pursuant hereto or
         thereto on behalf of the Company, and attaching all such documents
         referred to therein; and

             (iii) a certificate of the secretary or an assistant secretary of
         Original Investor, in form and substance reasonably satisfactory to the
         Investors, dated as of the Closing Date and certifying (A) that
         attached thereto are true, correct and complete copies of the
         Certificate of Formation of Original Investor, as certified by the
         Secretary of State of Delaware as of a recent date, and its operating
         agreement (if any), each as in effect on the date of such
         certification, and that each has not been amended except as reflected
         therein and remains in full force and effect, (B) that attached thereto
         is a true, correct and complete copy of the resolutions adopted by the
         sole member of Original Investor authorizing the execution, delivery
         and performance of this Agreement and the other Investment Documents to
         which it is a party and the sale of the Purchased Units to the
         Investors, and that such resolutions remain in full force and effect,
         and (C) as to the incumbency and specimen signature of all officers of
         Original Investor executing this

                                       11
<PAGE>   12

         Agreement or any of the other Investment Documents to which it is
         a party or any other document, certificate or instrument furnished
         pursuant hereto or thereto on behalf of Original Investor, and
         attaching all such documents referred to therein.

         (g) Opinion of Counsel. Each Investor shall have received an opinion of
Waller Lansden Dortch & Davis, PLLC, counsel to the Company, Original Investor
and HTI, addressed to the Investors, dated as of the Closing Date and in form
and substance reasonably satisfactory to the Investors.

         5.2 Conditions to Obligations of Original Investor. The obligation of
Original Investor to sell the Purchased Units to the Investors at the Closing is
subject to the satisfaction, or waiver by Original Investor, of each of the
following conditions on or prior to the Closing Date:

         (a) Payment for the Purchased Units. Each Investor shall have paid to
Original Investor the purchase price for the Purchased Units being purchased by
it as set forth on Schedule I.

         (b) Representations and Warranties; Compliance with this Agreement. The
representations and warranties of the Investors contained in Article IV shall be
true and correct in all material respects on and as of the Closing Date with the
same effect as though such representations and warranties had been made on and
as of the Closing Date (provided, however, that if any portion of any
representation or warranty is already qualified by materiality, then for
purposes of determining whether this Section 5.2(b) has been satisfied with
respect to such portion of such representation or warranty, such portion of such
representation or warranty as so qualified shall be true and correct in all
respects); each Investor shall have performed and complied in all material
respects with all agreements and conditions contained in this Agreement that are
required to be performed or complied with by it on or prior to the Closing Date;
and Original Investor shall have received a certificate of an executive officer
of each Investor to the foregoing effect (with respect to such Investor only).

         (c) Investment Documents. The Operating Agreement and the Registration
Rights Agreement shall have been executed and delivered by the Investors.

         (d) Opinion of Counsel. Original Investor shall have received (i) an
opinion of Robinson, Bradshaw & Hinson, P.A., counsel to First Union, and (ii)
an opinion of Steven A. Museles, counsel to CapitalSource, each addressed to
Original Investor, dated as of the Closing Date and in form and substance
reasonably satisfactory to Original Investor.

                                       12
<PAGE>   13

                                   ARTICLE VI

                                 INDEMNIFICATION

         6.1 Survival of Representations and Warranties. Notwithstanding any
investigation made at any time by or on behalf of any party hereto, all
representations and warranties contained in this Agreement or made in writing by
or on behalf of any party hereto in connection with the transactions
contemplated by this Agreement shall survive the execution and delivery of this
Agreement and the Closing until the second anniversary of the "Closing Date" (as
such term is defined in the Original Contribution Agreement); provided, however,
that the representations and warranties contained in Sections 3.1, 3.2, 3.6,
3.16, 4.1 and 4.2 (collectively, the "Fundamental Representations") shall
survive indefinitely.

         6.2 Indemnification by HTI and Original Investor.

         (a) Subject to the limitations set forth in this Article VI, HTI and
Original Investor shall, jointly and severally, indemnify, defend and hold
harmless the Investors and their respective Affiliates, officers, directors,
managers, stockholders, members, employees, counsel, agents and assigns from and
against any and all claims, causes of action, suits, proceedings, demands,
judgments, losses, damages, costs, expenses and liabilities whatsoever,
including fees and expenses of counsel for investigating or defending any action
or threatened action (collectively, "Investor Losses"), arising out of,
resulting from or based upon any breach of any representation, warranty,
covenant or agreement of Original Investor and/or HTI contained in this
Agreement.

         (b) Notwithstanding the foregoing:

             (i) No indemnification shall be required under Section 6.2(a) until
         the aggregate amount of Investor Losses thereunder exceeds $2,000,000,
         after which HTI and Original Investor shall be obligated for the full
         amount of all Investor Losses in excess of $2,000,000; provided,
         however, that the foregoing limitation shall not apply with respect to
         (A) any breach of any Fundamental Representation, (B) any breach of the
         representations and warranties contained in Section 3.15(b) (a "Section
         3.15(b) Breach"), to the extent the underlying breach of any
         representation or warranty in the Original Contribution Agreement that
         gives rise to such Section 3.15(b) Breach existed on the Original
         Closing Date, or (C) any Investor Losses arising from any claim that is
         subject to indemnification pursuant to Section 12.2(iii), 12.2(iv) or
         12.2(v) of the Original Contribution Agreement; and

             (ii) With respect to any Investor Losses arising out of, resulting
         from or based upon a Section 3.15(b) Breach (including, for purposes of
         this clause (ii), any Section 3.15(b) Breach that also constitutes a
         breach of any of the representations and warranties contained in
         Section 3.7), the indemnification obligations of HTI and Original
         Investor under Section 6.2(a) shall be limited to an amount equal to
         the indemnification obligations of HTI under Article 12 of the Original
         Contribution Agreement in respect of the breach by HTI of the
         representation or warranty in the Original Contribution Agreement
         underlying such Section 3.15(b) Breach; provided that the preceding

                                       13
<PAGE>   14

         limitation shall not apply to any such Section 3.15(b) Breach to the
         extent the underlying breach of any representation or warranty in the
         Original Contribution Agreement that gives rise to such Section 3.15(b)
         Breach did not exist on the Original Closing Date.

         6.3 Indemnification by Investors.

         (a) Subject to the limitations set forth in this Article VI, each
Investor shall, severally as to itself only and not as to any other Investor,
indemnify, defend and hold harmless the Company and Original Investor and their
respective Affiliates, officers, directors, managers, agents and members from
and against any and all Losses (collectively, "Company Losses") arising out of,
resulting from or based upon any breach of any representation, warranty,
covenant or agreement of such Investor contained in this Agreement.

         (b) Notwithstanding the foregoing, no indemnification shall be required
under Section 6.3(a) until the aggregate amount of Company Losses thereunder
exceeds $2,000,000, after which each Investor shall be severally obligated (as
provided in Section 6.3(a)) for the full amount of all Company Losses arising
out of, resulting from or based upon any breach of any representation, warranty,
covenant or agreement of such Investor (but not of any other Investor) contained
in this Agreement; provided, however, that the foregoing limitation shall not
apply with respect to any breach of any Fundamental Representation.

         6.4 Procedure for Indemnification - Third-Party Claims.

         (a) If any Person shall claim indemnification hereunder arising from
any claim or demand of a third party, the party seeking indemnification (the
"Indemnified Party") shall notify the party from whom indemnification is sought
(the "Indemnifying Party") in writing of the same within thirty (30) days of
receipt of such written assertion of a claim or liability including the basis
for such claim or demand, setting forth the nature of the claim or demand in
reasonable detail. Should the Indemnified Party fail to notify the Indemnifying
Party within the time frame required above, the indemnity with respect to the
subject matter of the required notice shall continue, but shall be limited to
the damages that would have nonetheless resulted absent the Indemnified Party's
failure to notify the Indemnifying Party in the time required above after taking
into account such actions as could have been taken by the Indemnifying Party had
it received timely notice from the Indemnified Party.

         (b) If any legal proceeding or action is brought by a third party
against an Indemnified Party and the Indemnified Party gives notice to the
Indemnifying Party pursuant to Section 6.4(a), the Indemnifying Party will be
entitled to participate in such proceeding and, to the extent that it wishes, to
assume the defense of such proceeding, if (i) the Indemnifying Party provides
written notice to the Indemnified Party of its intention to undertake such
defense and acknowledges that it will indemnify the Indemnified Party against
all claims for indemnification resulting from or relating to such third party
claim as provided in this Article VI, (ii) the Indemnifying Party furnishes
evidence reasonably acceptable to the Indemnified Party that it has the
financial resources to defend against the third party claim and to fulfill its
indemnification obligations hereunder, and (iii) the Indemnifying Party conducts
the defense of the third party claim actively and diligently with counsel
reasonably satisfactory to the Indemnified Party. The Indemnified Party shall,
in its sole discretion, have the right to employ separate counsel of its

                                       14
<PAGE>   15

choosing in any such action and to participate in the defense thereof, and the
fees and expenses of such counsel shall be paid by the Indemnified Party. If the
Indemnifying Party assumes the defense of a proceeding, (A) no compromise or
settlement of such claims may be effected by the Indemnifying Party without the
Indemnified Party's consent unless (1) there is no finding or admission of any
violation of law or any violation of the rights of any Person and no effect on
any other claims that may be made against the Indemnified Party, and (2) the
sole relief provided is monetary damages that are paid in full by the
Indemnifying Party, and (B) the Indemnified Party will have no liability with
respect to any compromise or settlement of such claims effected without its
consent, which consent shall not be unreasonably withheld or delayed.

         (c) If (i) notice is given to the Indemnifying Party of the
commencement of any proceeding and the Indemnifying Party does not, within ten
(10) days after the Indemnified Party's notice is given, give notice to the
Indemnified Party of its election to assume the defense of such proceeding, (ii)
any of the conditions set forth in clauses (i) through (iv) of Section 6.4(b) is
not satisfied at any applicable time, or (iii) the Indemnified Party determines
in good faith that there is a reasonable probability that a proceeding may
adversely affect it other than as a result of monetary damages for which it
would be entitled to indemnification from the Indemnifying Party hereunder, the
Indemnified Party will (upon further notice to the Indemnifying Party) have the
right to undertake the defense, compromise or settlement of such claim; provided
that the Indemnifying Party will reimburse the Indemnified Party promptly upon
demand from time to time for the costs of defending against the third-party
claim (including reasonable attorneys' fees and expenses) and the Indemnifying
Party will remain responsible for any indemnifiable amounts arising from or
related to such third party claim to the fullest extent provided in this Article
VI. The Indemnifying Party may elect to participate in such proceedings,
negotiations or defense at any time at its own expense.

         6.5 Notice of Claim. If an Indemnified Party becomes aware of any
breach of any of the representations or warranties of the Indemnifying Party
hereunder or any other basis for indemnification under this Article VI (except
as otherwise provided for under Section 6.4), the Indemnified Party shall notify
the Indemnifying Party in writing of the same within forty-five (45) days after
becoming aware of such breach or claim, specifying in detail the circumstances
and facts which give rise to a claim under this Article VI. Should the
Indemnified Party fail to notify the Indemnifying Party within the time frame
required above, the indemnity with respect to the subject matter of the required
notice shall continue, but shall be limited to the damages that would have
nonetheless resulted absent the Indemnified Party's failure to notify the
Indemnifying Party in the time required above after taking into account such
actions as could have been taken by the Indemnifying Party had it received
timely notice from the Indemnified Party.

         6.6 Exclusive Remedy. The rights accorded to the Indemnified Parties
under this Article VI shall be the sole and exclusive rights and remedies
exercisable by such parties with respect to any losses arising out of any breach
of any representation, warranty, covenant or agreement set forth in this
Agreement or any of the other Investment Documents, and no party hereto shall
have any other remedy (whether at law, in equity or otherwise) against another
party with respect thereto, all such other remedies hereby being waived to the
greatest extent permitted by applicable law.

                                       15
<PAGE>   16

                                  ARTICLE VII

                                  MISCELLANEOUS

         7.1 Expenses. Original Investor will pay (or will cause the Company to
pay), promptly upon demand therefor, up to $200,000 of the reasonable
out-of-pocket costs and expenses incurred by the Investors that are documented
to the Company's reasonable satisfaction (including the reasonable fees and
expenses of counsel to the Investors) in connection with the transactions
contemplated hereby.

         7.2 Entire Agreement/Amendment. This Agreement supersedes all previous
contracts, and constitutes the entire agreement of whatsoever kind or nature
existing between or among the parties respecting the subject matter contained
herein and no party shall be entitled to benefits other than those specified
herein. As between or among the parties, no oral statements or prior written
material not specifically incorporated herein shall be of any force and effect.
The parties specifically acknowledge that in entering into and executing this
Agreement, the parties rely solely upon the representations and agreements
contained in this Agreement and no others, except as otherwise expressly
provided herein. All prior representations or agreements, whether written or
verbal, not expressly incorporated herein are superseded and no changes in or
additions to this Agreement shall be recognized unless and until made in writing
and signed by all parties hereto. This Agreement may be executed in two or more
counterparts, each and all of which shall be deemed an original and all of which
together shall constitute but one and the same instrument. Except as may be
otherwise specifically provided herein, no amendment, modification or waiver of,
or consent to departure from, any provision of this Agreement shall be effective
unless made in a writing signed by all of the parties hereto.

         7.3 Divisions and Headings. The divisions of this Agreement into
sections and subsections and the use of captions and headings in connection
therewith are solely for convenience and shall have no legal effect in
construing the provisions of this Agreement.

         7.4 Gender and Number. Whenever the context of this Agreement requires,
the gender of all words herein shall include the masculine, feminine and neuter,
and the number of all words herein shall include the singular and plural.

         7.5 Severability. In the event any provision of this Agreement is held
to be invalid, illegal or unenforceable for any reason and in any respect, such
invalidity, illegality, or unenforceability shall in no event affect, prejudice
or disturb the validity of the remainder of this Agreement, which shall be and
remain in full force and effect, enforceable in accordance with its terms.

         7.6 Governing Law and Venue. This Agreement shall be construed and
enforced in accordance with the laws of the State of Tennessee without regard to
its principles of conflicts of laws. Each party hereby irrevocably and
unconditionally consents to venue in any state or federal court located in the
City of Nashville, Tennessee (the "Nashville Courts") for any litigation arising
out of or relating to this Agreement, and each party hereby waives any objection
to the laying of venue of any such litigation in the Nashville Courts and agrees
not to plead or claim in any Nashville Court that such litigation brought
therein has been brought in an

                                       16
<PAGE>   17

inconvenient forum. Each party hereby irrevocably and unconditionally consents
to a Nashville Court applying Tennessee law to any litigation arising out of or
relating to this Agreement.

         7.7 Benefit/Assignment. Subject to provisions herein to the contrary,
this Agreement shall inure to the benefit of and be binding upon the parties
hereto and their respective legal representatives, successors and assigns. Each
Investor may assign its rights under this Agreement to any Person in connection
with any transfer of Purchased Units made pursuant to and in accordance with the
terms of the Operating Agreement, and such rights may be further assigned in any
subsequent transfer of such Purchased Units made pursuant to and in accordance
with the terms of the Operating Agreement; provided that any such transferee may
exercise those rights only to the extent that the transferring Investor would be
entitled to exercise such rights, and such transferee shall be subject to all
defenses and rights of set-off that would be available against the Investor from
whom such transferee's rights arise. Neither HTI nor Original Investor may
assign any of its rights or obligations under this Agreement without the prior
written consent of the Investors. Except as expressly provided in Article VII,
this Agreement is intended solely for the benefit of the parties hereto and is
not intended to, and shall not, create any enforceable third party beneficiary
rights.

         7.8 Waiver. Failure by any party to enforce any of the provisions
hereof for any length of time shall not be deemed a waiver of its rights set
forth in this Agreement. Such a waiver may be made only by an instrument in
writing signed by the party sought to be charged with the waiver. No waiver of
any condition or covenant of this Agreement shall be deemed to imply or
constitute a further waiver of the same or any other condition or covenant, and
nothing contained in this Agreement shall be construed to be a waiver on the
part of the parties of any right or remedy at law or in equity or otherwise.

         7.9 Attorneys' Fees. In the event a party elects to incur legal
expenses to enforce or interpret any provision of this Agreement by judicial
proceedings, the prevailing party will be entitled to recover such legal
expenses, including, without limitation, reasonable attorneys' fees, costs and
necessary disbursements at all court levels, in addition to any other relief to
which such party shall be entitled. The provisions of this Section 7.9 shall
survive the Closing or earlier termination of this Agreement.

         7.10 Time. Time is of the essence with respect to all provisions of
this Agreement.

         7.11 Business Day. Should any due date for performance hereunder fall
on a Saturday, Sunday or legal holiday, then such performance shall be deemed
timely if made on the first business day following such Saturday, Sunday or
legal holiday.

         7.12 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHTS IT MAY HAVE TO DEMAND THAT ANY ACTION, PROCEEDING OR
COUNTERCLAIM ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE
RELATIONSHIPS OF THE PARTIES HERETO BE TRIED BY JURY. THIS WAIVER EXTENDS TO ANY
AND ALL RIGHTS TO DEMAND A TRIAL BY JURY ARISING FROM ANY SOURCE INCLUDING, BUT
NOT LIMITED TO, THE CONSTITUTION OF THE UNITED STATES OR ANY STATE THEREIN,
COMMON LAW OR ANY APPLICABLE STATUTE OR REGULATIONS. EACH PARTY HERETO

                                       17
<PAGE>   18

ACKNOWLEDGES THAT IT IS KNOWINGLY AND VOLUNTARILY WAIVING ITS RIGHT TO DEMAND
TRIAL BY JURY.

         7.13 Notice. All notices given pursuant to this Agreement shall be in
writing and shall be deemed effective when personally delivered, when received
by telefax or overnight courier, or five (5) days after being deposited in the
United States mail, with postage prepaid thereon, certified or registered mail,
return receipt requested. For purposes of notice, the addresses of the parties
shall be (i) as to HTI or Original Investor, One Park Plaza, P.O. Box 550,
Nashville, Tennessee 37202-0550, Attention: Howard K. Patterson, and (ii) as to
any Investor, such Investor's address as indicated on Schedule I, or in any case
to such other address, and to the attention of such other person or officer, as
any party may designate, with copies thereof to the respective counsel thereof
as notified by such party.

         7.14 Schedules and Other Instruments. Each Schedule and Exhibit to this
Agreement shall be considered a part hereof as if set forth herein in full. Any
other provision herein to the contrary notwithstanding, all Schedules, Exhibits
or other instruments provided for herein and not delivered at the time of
execution of this Agreement or which are incomplete at the time of execution of
this Agreement shall be delivered or completed within ten (10) days after the
date hereof or prior to Closing, whichever is sooner; and it shall be deemed a
condition precedent to the obligations of the party to whom such Schedule,
Exhibit or other instrument is to be delivered hereunder that each such
Schedule, Exhibit or other instrument shall meet with the approval of such
party. If a party, in its sole discretion, determines that it should not
consummate the transactions contemplated by this Agreement because of any
information contained in a Schedule, Exhibit or other instrument that is
delivered to such party after the execution of this Agreement, then such party
may terminate this Agreement on or before Closing by giving written notice
thereof to the other party or parties.

         7.15 Additional Assurances. The provisions of this Agreement shall be
self-operative and shall not require further agreement by the parties except as
may be herein specifically provided to the contrary; provided, however, at the
request of a party, the other party or parties shall execute such additional
instruments and take such additional actions as the requesting party may deem
necessary to effectuate this Agreement.

         7.16 No Brokerage. The parties hereto represent to each other that no
broker has in any way been contacted in connection with the transactions
contemplated hereby. Each party agrees to indemnify the other parties from and
against all loss, cost, damage or expense arising out of claims for fees or
commissions of brokers employed or alleged to have been employed by such
indemnifying party. The provisions of this Section 7.16 shall survive the
Closing or earlier termination of this Agreement.

         7.17 Public Announcements. The parties agree that no party hereto shall
release, publish or otherwise make available to the public in any manner
whatsoever any information or announcement regarding the transactions herein
contemplated without the prior written consent of all parties, except for
information and filings reasonably necessary to be directed to governmental
agencies to fully and lawfully effect the transactions herein contemplated or
required in connection with securities and other laws.

                                       18
<PAGE>   19

         7.18 Waiver of Breach. The waiver by any party of a breach or violation
of any provision of this Agreement shall not operate as, or be construed to
constitute, a waiver of any subsequent breach of the same or any other provision
hereof.

                                       19
<PAGE>   20

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                    HEALTHTRUST, INC.-THE HOSPITAL COMPANY

                                    By: /s/ Howard K. Patterson
                                        ----------------------------------------
                                    Title: VP
                                           -------------------------------------

                                    JV INVESTOR, LLC

                                    By: /s/ Howard K. Patterson
                                        ----------------------------------------
                                    Title: VP
                                           -------------------------------------

                                    INVESTORS:

                                    FIRST UNION MERCHANT BANKING 2000, LLC

                                    By: /s/ David F. Grams, Jr.
                                        ----------------------------------------
                                    Title: Principal
                                           -------------------------------------

                                    CAPITALSOURCE HOLDINGS LLC

                                    By: /s/
                                        ----------------------------------------
                                    Title: Senior Vice President, General
                                           Counsel
                                           -------------------------------------

                             (signatures continued)

                                       20
<PAGE>   21
                                    /s/ Charles A. Elcan
                                    -------------------------------------
                                    Charles A. Elcan

                                    /s/ Charles E. Crews
                                    -------------------------------------
                                    Charles E. Crews

       [Certain exhibits and schedules to this Exhibit have been omitted,
            but shall be furnished to the Commission upon request.]

                                       21
<PAGE>   22

                                   SCHEDULE I

                                    Investors

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
          Name and Address of Investor           Number of Purchased Units        Purchase Price
          ----------------------------           -------------------------        --------------
---------------------------------------------------------------------------------------------------------
<S>                                              <C>                              <C>
First Union Merchant Banking 2000, LLC                     23,500                 $23,500,000.00
One First Union Center, 5th Floor NC0732
301 South College Street
Charlotte, North Carolina 28288-0732
Attention: David F. Grams, Jr.
---------------------------------------------------------------------------------------------------------
CapitalSource Holdings LLC                                 8,000                   $8,000,000.00
1133 Connecticut Avenue, N.W. Suite 310
Washington, DC 20036
Attention: Mike Szwajkowski
---------------------------------------------------------------------------------------------------------
Charles A. Elcan                                           14,836                 $14,836,000.00
1034 Chancery Lane South
Nashville, Tennessee 37215
---------------------------------------------------------------------------------------------------------
Charles Crews                                              5,000                   $5,000,000.00
P.O. Box 5
Arrington, Tennessee 37014
---------------------------------------------------------------------------------------------------------
</TABLE>

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