Document:

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                                                                    EXHIBIT 10.1

                         AMENDMENT TO PURCHASE AGREEMENT

         THIS AMENDMENT TO PURCHASE AGREEMENT ("AMENDMENT") was entered into
this 27th day of September, 2002, effective July 1, 2002, by and between GRAND
CASINOS NEVADA I, INC., a Minnesota corporation ("GCN") (hereinafter referred to
as "GCN" or "SELLER") and METROFLAG POLO, LLC, a Nevada limited liability
company ("BUYER").

                                    RECITALS:

     A. Seller and Buyer entered into that certain purchase agreement, dated as
of December 28, 2001, as modified by those certain Letter Agreements dated June
26, 2002, July 15, 2002, July 30, 2002, August 14, 2002, August 30, 2002, and
September 10, 2002 (hereinafter the "PURCHASE AGREEMENT"), pursuant to which
Seller agreed to sell, and Buyer agreed to purchase, all of Seller's interest in
that certain real estate located in Las Vegas, Nevada, which is improved with an
underground parking structure and a retail shopping center known as the "Polo
Plaza".

     B. All capitalized terms not otherwise defined in this Amendment shall have
the meanings ascribed to them in the Purchase Agreement.

     C. As a result of an adverse change in economic conditions, Seller and
Buyer desire to provide for a Purchase Price adjustment.

     D. Seller and Buyer desire to extend the Post Closing Conditions Period,
and make certain other modifications relating to the Post Closing Conditions.

     E. Seller and Buyer desire to provide for the payment of the Second Payment
into escrow to be held pending the completion of the Post Closing Conditions,
and desire to make certain other modifications to the Purchase Agreement.

     F. Simultaneously herewith, Metroflag BP and Seller have entered into an
amendment to the Travelodge Purchase Agreement providing for a similar extension
of time of the post closing conditions contained in the Travelodge Purchase
Agreement, as well as certain other matters.

     NOW, THEREFORE, in consideration of the recitals, and the agreements
hereinafter provided and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by Buyer and Seller, Buyer and
Seller agree that the Purchase Agreement is hereby amended as follows:

     1. The last sentence of Section V(a) shall be deleted and replaced with the
following: "Consequently, Seller acknowledges and agrees that Seller shall be
obligated

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to complete or satisfy the following conditions (collectively, the
"POST CLOSING CONDITIONS") on or before December 10, 2002 (the "POST CLOSING
CONDITIONS PERIOD").

     2. The Purchase Price as specified in Section I is adjusted to Twenty-One
Million Seven Hundred Sixty Five Thousand and 00/100 Dollars ($21,765,000),
effective July 1, 2002. As a result of this Purchase Price adjustment, Seller
and Buyer agree to execute the Amended and Restated Note in the form attached
hereto as Exhibit A (the "RESTATED NOTE") and the Supplement to Deed of Trust in
the form attached hereto as Exhibit B (the "SUPPLEMENT DEED OF TRUST"). The
terms and conditions of the Restated Note shall supersede anything to the
contrary contained in Section I(b); provided that Buyer shall not be relieved of
its obligation to pay all interest accrued under the Note, through June 30,
2002. As appropriate, all references to "Note" in the Purchase Agreement shall
be changed to "Restated Note". The Maturity Date referenced in the Purchase
Agreement shall be changed from September 30, 2002, to "December 24, 2002". The
language contained in Section I(b), beginning with "..., provided that Buyer
shall have ..." and continuing to the end of Section I(b), shall be deleted, and
the following language inserted in lieu thereof "provided that Buyer shall have
the right to a single extension of the Maturity Date to January 31, 2003, if
such extension is reasonably necessary to allow refinancing of the Restated
Note, by providing Seller, at least ten (10) days prior to the Maturity Date, a
written notice (including a description of the circumstances making the
extension necessary) of Buyer's election to extend the Maturity Date." Upon such
proper notice by Buyer to so extend, the term "Maturity Date" as defined in this
Agreement shall be deemed to be January 31, 2003. Simultaneous with the receipt
of the executed Restated Note, Seller shall return the Note to Buyer for
cancellation.

     3. Simultaneous with the execution of this Amendment, Buyer agrees to make
the Second Payment by depositing the same in escrow with the Title Company,
pursuant to the terms and conditions of that certain escrow agreement in the
form attached hereto as Exhibit C (the "ESCROW AGREEMENT"). Notwithstanding
anything to the contrary in the Agreement, the Down Payment and the Second
Payment shall be deemed refundable (to the extent provided in Section II(b), as
amended herein) until the satisfaction, or waiver by Buyer, of all of the Post
Closing Conditions at which time both such payments shall be nonrefundable. Upon
deposit of the Second Payment pursuant to the Escrow Agreement, the outstanding
principal balance of the Note shall be reduced by the amount of the Second
Payment, resulting in the Restated Note having a principal balance of Twenty
Million Seven Hundred Sixty Five Thousand and 00/100 ($20,765,000) on the date
of this Amendment.

     4. The last paragraph of Section I beginning with "Buyer contemplates
obtaining ..." and ending with "...in connection therewith.", shall be deleted
in its entirety.

     5. A new paragraph shall be added to the end of Section I, reading as
follows: "Simultaneous with the payment in full of all principal and interest
owing under the Restated Note, Seller agrees, upon the request of Buyer, to
execute the Contribution

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and Operating Agreement in the form attached hereto as Exhibit D (the
"CONTRIBUTION AGREEMENT"), and to contribute Four Million Dollars and 00/100
($4,000,000) cash (the "Seller Contribution") to Buyer pursuant to the terms of
such Contribution and Operating Agreement, all subject to satisfaction of the
following conditions on or before the Maturity Date:

         (i)      Buyer shall not have defaulted under the Restated Note, or
                  Seller shall have waived any such default in writing;

         (ii)     All parties thereto other than Seller shall have duly executed
                  the Contribution Agreement;

         (iii)    Buyer shall have paid Seller in cash the entire amount due
                  (including principal and interest) as of the Maturity Date
                  under the Restated Note, less the dollar amount of the Seller
                  Contribution; and

         (iv)     Buyer shall have executed and delivered to Seller a
                  certificate evidencing Seller's interest in Buyer as set forth
                  in the Contribution Agreement, subject to the delivery of the
                  payment receipts described hereafter in this paragraph.

Upon satisfaction of each of the conditions set forth above in this paragraph,
the Seller Contribution shall be made as follows: (a) Seller shall execute and
deliver to Buyer a written receipt acknowledging Buyer's payment to Seller of a
cash amount equal to the Seller Contribution, representing payment under that
Restated Note, and (b) at the same time Buyer shall execute and deliver to
Seller a written receipt acknowledging Seller's payment to Buyer of a cash
amount equal to the Seller Contribution, representing payment of the Seller
Contribution. If the conditions set forth above in this paragraph have not been
satisfied by Buyer or waived by Seller on or before the Maturity Date, Buyer's
right to require Seller to make the Seller Contribution hereunder shall expire
at 12:00 midnight on the Maturity Date, and Buyer shall remain obligated to pay
all unpaid amounts due under the Restated Note."

     6. Section II(a) shall be deleted in its entirety and replaced with the
following: "(a) In the event that Seller does not satisfy (or Buyer does not
waive) all of the Post Closing Conditions set forth in Section V hereof by the
expiration of the Post Closing Conditions Period, Buyer shall have the right to
cause Seller to repurchase the Property from Buyer (the "REPURCHASE") on the
terms and conditions set forth below. Buyer shall provide written notice to
Seller of its election to require the Seller to consummate the Repurchase (the
"REPURCHASE NOTICE") within five (5) business days after the expiration of the
Post Closing Conditions Period. The closing of such Repurchase shall occur after
December 27, 2002 and not later than fifteen (15) days after the date that the
Repurchase Notice is delivered to Seller. Notwithstanding anything to the
contrary contained in this Agreement, Buyer shall not be entitled to cause
Seller to Repurchase the Property unless: (i) prior thereto or simultaneous
therewith Metroflag BP

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has exercised its right under the Travelodge Purchase Agreement to cause Seller
to repurchase the Travelodge parcel as provided in Section II of the Travelodge
Purchase Agreement; and (ii) Buyer is not then in default under the Restated
Note or the Deed of Trust, as supplemented.". In connection with the Repurchase,
the parties agree that the terms and conditions of Section VIII shall apply as
appropriate with respect to the execution and delivery of closing documents and
allocation and payment of rents, taxes, insurance, utilities, security deposits,
and all other closing costs.

     7. The repurchase price of Two Hundred Fifty Thousand and 00/100 ($250,000)
set forth in Section II(b) shall be increased to Seven Hundred Fifty Thousand
and 00/100 ($750,000), provided that the return of the Second Payment to Buyer
pursuant to the Escrow Agreement shall be applied against and deemed partial
payment of such repurchase price.

     8. The language contained in Sections V(a)(ii), (iii), (iv), (v) and (vi)
shall be deleted in its entirety.

     9. Seller and Buyer acknowledge and agree that (a) the Amended REA has been
duly executed by each of them, (b) the fee owners of the Travelodge Property
(the Brooks Fee Owners) have duly executed the Consent and Joinder of Brooks Fee
Owner attached thereto, (c) the Amended REA (as so executed) has been properly
filed of record, (d) Finova Capital Corporation has duly executed its Consent
and Subordination attached to the Amended REA, and (e) all the requirements of
Section V(a) have been satisfied, except for (x) the execution by Dorfinco
Corporation of the other Consent and Subordination attached to the Amended REA,
to the extent the latter execution is legally required; and (y) the proper
recording of the consents of Dorfinco Corporation and Finova Capital Corporation
to the Amended REA, as and when executed by Dorfinco Corporation, to the extent
such execution is legally required. Seller and Buyer also acknowledge and agree
that the License Agreement formerly referenced in Section V(a)(ii) has been
terminated by the Termination of Irrevocable License Agreement which has been
duly executed by all necessary parties and properly filed of record.

     10. An additional Post Closing Condition is hereby added at Section
V(a)(ii), reading as follows: "(ii) Within one hundred thirty-five (135) days
following the effective date of this Amendment, which is July 1, 2002, Clark
County shall have taken the steps necessary to approve or modify, whether by
adoption of an appropriate zoning variance or otherwise, the written parking
plan Buyer submitted (before this Amendment was signed) to Clark County for
approval, which plan shows a reduction (up to 100%) in the number of surface
parking spaces available on the Polo Property, after Clark County has also
considered (A) certain parking rights and obligations affecting the Polo
Property and the other real property parcels subject to the Amended REA,
pursuant to covenants and a contingent cross-licensing arrangement set forth in
the Amended REA that both benefit and burden the Polo Property, as set forth in
a copy of the Amended REA signed by Buyer and Seller and also submitted to Clark
County with such parking plan; and (B) any written parking plan that may have
been submitted to Clark County before such action is taken, with respect to the
proposed construction of 840 residential timeshare

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condominium units and a related parking structure on the Shark Parcel (as
defined in the Amended REA); provided that any such action by Clark County shall
not have, as a result of the cross-easement in the Amended REA allowing the
current underground parking facility on the Polo Property to be used for parking
purposes by persons otherwise entitled to park in the current underground
parking facility on the Towers Parcel (as defined in the Amended REA), required
Buyer to restrict the otherwise permitted uses of the Polo Property or provide
any additional parking spaces for the benefit of the Polo Property (beyond the
parking spaces currently located in the underground parking facility on the Polo
Property), or prevented the owner of the Shark Parcel from making up to 150
parking spaces on the Shark Parcel available to users of the Polo Property under
the terms and conditions of Section 4.02 of the Amended REA. If Clark County
shall not have taken any such action on Buyer's parking plan within such 135-day
period, Buyer may deem its parking plan request to be rejected for purposes of
this Amendment, by notifying Seller in writing of Buyer's decision within ten
(10) days after the end of such 135-day period. If Clark County shall have taken
any such action within such 135-day period, Buyer shall have ten (10) days
following its receipt of notice of Clark County's action to notify Seller in
writing of Clark County's action and Buyer's determination whether or not such
action has adversely affected Buyer in the manner set forth in this paragraph.
Any failure by Buyer to timely submit its parking plan to Clark County, or
timely give the applicable notice to Seller shall be deemed Buyer's admission,
solely for purposes of this paragraph, that Clark County's action or non-action
does not adversely affect Buyer in such manner.

     11. The language contained in Section V(b) shall be deleted in its
entirety.

     12. The Sign Cost Agreement is hereby terminated, and neither Seller nor
Buyer shall have any further rights or obligations thereunder.

     13. The entire second paragraph of Section IV is deleted, it being agreed
that all of the Unacceptable Exceptions have been removed.

     14. The language at the end of Section V(a) commencing with "....provided
that if Seller..." and ending with "...continuous efforts to do so" shall be
deleted.

     15. Except as expressly set forth herein, the Purchase Agreement is not
modified and shall remain in full force and effect.

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              IN WITNESS WHEREOF, the parties hereto have executed this
Amendment intending to be bound by the provisions herein contained.

                                SELLER:

                                GRAND CASINOS OF NEVADA I, INC.
                                a Minnesota corporation

                                By: /s/ Timothy Cope
                                   -------------------------------------------
                                Its:  Chief Financial Officer
                                    ------------------------------------------

                                BUYER:

                                METROFLAG POLO, LLC,
                                a Nevada limited liability company

                                By:      Metro One, LLC, a Nevada limited
                                         liability company, its member

                                By:  /s/ Brett Torino
                                   -------------------------------------------
                                         Brett Torino, Manager<PAGE>
                                                                    EXHIBIT 10.2

               AMENDED AND RESTATED NOTE SECURED BY DEED OF TRUST

$20,765,000                    Las Vegas, Nevada     December 28, 2001,
                                                     as amended and
                                                     restated as of July 1, 2002

         For valuable consideration, Metroflag Polo, LLC, a Nevada limited
liability company ("Promisor") does hereby promise to pay to the order of Grand
Casinos Nevada I, Inc., a Minnesota corporation ("Promisee") the principal sum
of Twenty Million Seven Hundred Sixty-five Thousand Dollars ($20,765,000),
together with interest thereon, from July 1, 2002. Interest for the period
ending June 30, 2002 shall be Five Hundred Eighty Five Thousand Eighty Six and
59/100 Dollars ($585,086.59). Interest in the amount of Three Hundred Twenty
Eight Thousand Seven Hundred Twenty One and 44/100 Dollars ($328,721.44) has
already been paid. The unpaid pre-July interest of Two Hundred Fifty Six
Thousand Three Hundred Sixty Five and 15/100 Dollars ($256,365.15) shall be due
and payable on the Maturity Date. Interest shall accrue on the unpaid pre-July
interest and on the principal sum due hereunder at the rate of three percent
(3%) per annum commencing July 1, 2002. Interest only shall be paid on the last
day of each calendar month commencing July 31, 2002, and ending December 24,
2002 (the "Maturity Date"), at which time the entire remaining unpaid balance,
together with interest thereon, shall be due and payable; provided that Promisor
may extend the Maturity Date until January 31, 2003, upon the terms and subject
to the conditions set forth in the Purchase Agreement (as hereinafter defined).

         Both principal and interest are payable at the office of Promisee, in
Minnetonka, Minnesota, or at such place as the holder hereof may from time to
time designate in writing.

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         Provided Promisor has notified Promisee in writing of such prepayment
at least ten (10) days in advance, Promisor may prepay this Note in full or in
part at any time. Any prepayment of principal must be accompanied by payment of
all interest then accrued under this Note but unpaid. This Note is secured by a
Deed of Trust, Assignment of Leases and Rents and Security Agreement dated
December 28, 2001, as supplemented as of July 1, 2002 ("Deed of Trust"). Should
any event of default, as hereinafter defined, occur, the whole sum of principal
and interest hereunder shall, without notice, immediately become due at the
option of the holder hereof. Any and all of the following shall constitute an
event of default hereunder:

               (a) default in payment of any installment of principal or
interest hereunder; or

               (b) default in performance of any obligation contained herein or
in the Deed of Trust or any other security instrument by which this Note is
secured or any guaranty hereof or thereof.

         The sale, agreement to sell, transfer, assignment, mortgage, pledge,
hypothecation or encumbrance, whether voluntary or involuntary, directly or
indirectly, of the whole or any portion of Promisor's right, title or interest
in and to the property subject to the Deed of Trust or any portion thereof,
other than encumbrances permitted under, and complying with, that Purchase
Agreement by and between Promisor and Promisee dated as of December 28, 2001, as
amended by letter agreements dated June 26, 2002, July 15, 2002, July 30, 2002,
August 14, 2002, August 30, 2002, and September 10, 2002 and by Amendment to
Purchase Agreement dated September 27, 2002, ("Purchase Agreement") shall
entitle Promisee to accelerate the indebtedness secured hereby in the same
manner as in the case of any other default. Any lease for a term (including
options to extend) of greater than twenty (20) years shall be deemed a sale for
the purpose of this paragraph. For the

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purpose of this paragraph, the sale, transfer, assignment, mortgage, pledge,
hypothecation, charging or encumbrance of the aggregate of greater than thirty
percent (30%) of (a) the interests in any partnership or limited liability
company then owning such property, whether directly or indirectly (such as by
sale of stock in any corporate partner or member) or (b) any class of stock in a
corporation then owning such property, whether directly or indirectly (such as
by sale of stock in any parent corporation) shall be deemed a sale, transfer,
assignment, mortgage, pledge, hypothecation or encumbrance, as the case may be,
of an interest of Promisor in the property subject to the Deed of Trust.

         Promisor and all others who may become liable for the payment of all or
any part of this obligation do hereby severally waive presentment for payment,
protest and demand, notice of protest, demand and dishonor, and nonpayment of
this Note and expressly agree that the maturity of this Note or any payment
hereunder may be extended from time to time, at the option of the holder hereof,
without in any way affecting the liability of each. Promisor agrees that the
holder hereof may release all or part of the security for the payment thereof or
release any party liable for this obligation. Any such extension or release may
be made without notice to any of the parties and without discharging their
liability.

         Promisor promises to pay all costs incurred in collection and/or
enforcement of this Note or any part thereof or otherwise in connection
herewith, including, but not limited to, reasonable attorneys' fees. In the
event of court action, all costs and such additional sums and attorneys' fees as
the court may adjudge reasonable shall be awarded to the prevailing party.

         The obligations of any party liable for the payment of all or any part
of this obligation shall be joint and several.

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         If any term, provision, covenant or condition of this Note, or any
application thereof, should be held by a court of competent jurisdiction to be
invalid, void, or unenforceable, all provisions, covenants and conditions of
this Note and all applications thereof not held invalid, void or unenforceable,
shall continue in full force and effect and shall in no way be affected,
impaired or invalidated thereby.

         The laws of the State of Nevada shall govern the validity,
construction, performance and effect of this Note. Any action to enforce
Promisor's obligations hereunder may be brought in any court of competent
jurisdiction in the State of Nevada, and Promisor hereby consents to the
jurisdiction of Nevada courts over it.

                                              Metroflag Polo, LLC,
                                              a Nevada limited liability company

                                              By Its Member:

                                              Metro One, LLC,
                                              a Nevada limited liability company

                                              By: /s/ Brett Torino
                                                 -------------------------------
                                                 Brett Torino, Manager

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