Document:

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                                                                  EXHIBIT 10.3.3

                        GUARANTY OF RECOURSE OBLIGATIONS

            This GUARANTY OF RECOURSE OBLIGATIONS (this "GUARANTY"), dated as of
June 25, 2004, made by LODGIAN, INC., a Delaware corporation ("GUARANTOR"),
having an address at 3445 Peachtree Road, NE, Suite 700, Atlanta, Georgia 30326,
in favor of MERRILL LYNCH MORTGAGE LENDING, INC., a Delaware corporation, having
an office at Four World Financial Center, New York, New York 10080 (together
with its successors, transferees and assigns, "LENDER").

                                R E C I T A L S:

            A. Pursuant to that certain Loan and Security Agreement, dated as of
the date hereof (as the same may be amended, modified, supplemented or restated
from time to time, the "LOAN AGREEMENT"), among the Borrowers named therein
(each, a "BORROWER", and collectively, "BORROWERS"), and Lender, Lender has
agreed to make a loan to Borrowers in the aggregate original principal amount of
up to Sixty Seven Million Eight Hundred Sixty Four Thousand and No/100 Dollars
($67,864,000.00) (the "LOAN"), subject to the terms and conditions of the Loan
Agreement;

            B. As a condition to Lender's making the Loan, Lender is requiring
that Guarantor execute and deliver to Lender this Guaranty; and

            C. Guarantor hereby acknowledges that Guarantor holds a direct
and/or indirect ownership interest in each Borrower and that Guarantor will
materially benefit from Lender's agreeing to make the Loan.

            NOW, THEREFORE, in consideration of the premises set forth herein
and as an inducement for and in consideration of the agreement of Lender to make
the Loan pursuant to the Loan Agreement and the other Loan Documents, Guarantor
hereby agrees, covenants, represents and warrants to Lender as follows:

            SECTION 1. DEFINITIONS. All capitalized terms used and not defined
herein shall have the respective meanings given such terms in the Loan
Agreement.

            SECTION 2. GUARANTY.

            (a) Guarantor (but not its members, partners, employees,
shareholders, agents, directors or officers) hereby irrevocably, absolutely and
unconditionally assumes liability for, guarantees payment to Lender of, and
agrees to pay, protect, defend, indemnify and save harmless Lender from and
against any and all Guaranteed Recourse Obligations of Borrowers (as hereinafter
defined).

The obligations which are the subject of the guaranty referred to in this
Section 2 are hereinafter collectively referred to as the "GUARANTEED
OBLIGATIONS".

Guaranty of Recourse Obligations [FX-2]

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            (b) The term "GUARANTEED RECOURSE OBLIGATIONS OF BORROWERS" as used
in this Guaranty shall mean all obligations and liabilities of Borrowers for
which Borrowers shall be personally liable under the provisions of Section 12.2
of the Loan Agreement.

            (c) All sums payable to Lender under this Guaranty shall be payable
on demand and without reduction for any offset, claim, counterclaim or defense.

            SECTION 3. REPRESENTATIONS AND WARRANTIES. Guarantor hereby
represents and warrants to Lender as follows (which representations and
warranties shall be given as of the date hereof and shall survive the execution
and delivery of this Guaranty):

            (a) DUE EXECUTION. This Guaranty has been duly executed and
delivered by Guarantor.

            (b) ENFORCEABILITY. This Guaranty constitutes a legal, valid and
binding obligation of Guarantor, enforceable against Guarantor in accordance
with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors' rights generally, or application of general principles
of equity in any legal proceeding.

            (c) NO VIOLATION. The execution, delivery and performance by
Guarantor of its obligations under this Guaranty do not violate any law,
regulation, order, writ, injunction or decree of any court or governmental body,
agency or other instrumentality applicable to Guarantor, or result in a breach
of any of the terms, conditions or provisions of, or constitute a default under,
or result in the creation or imposition of any mortgage, lien, charge or
encumbrance of any nature whatsoever upon any of the assets of Guarantor
pursuant to the terms of any mortgage, indenture, agreement or instrument to
which Guarantor is a party or by which it or any of its properties is bound.
Guarantor is not in default under any other guaranty which it has provided to
Lender.

            (d) NO LITIGATION. Except as disclosed on Schedule 4.9 to the Loan
Agreement, there are no actions, suits or proceedings at law or at equity,
pending or, to Guarantor's knowledge, threatened against or affecting Guarantor
or which involve or could reasonably be expected to involve the validity or
enforceability of this Guaranty or which might materially adversely affect the
financial condition of Guarantor or the ability of Guarantor to perform any of
its obligations under this Guaranty. Guarantor is not in default beyond any
applicable grace or cure period with respect to any order, writ, injunction,
decree or demand of any Governmental Authority which might materially adversely
affect the financial condition of Guarantor or the ability of Guarantor to
perform any of its obligations under this Guaranty.

            (e) CONSENTS. All consents, approvals, orders or authorizations of,
or registrations, declarations or filings with, all Governmental Authorities
(collectively, the "CONSENTS") that are required in connection with the valid
execution, delivery and performance by Guarantor of this Guaranty have been
obtained and Guarantor agrees that all Consents required in connection with the
carrying out or performance of any of Guarantor's obligations under this
Guaranty will be obtained when required.

            (f) FINANCIAL STATEMENTS AND OTHER INFORMATION. All financial
statements of Guarantor heretofore delivered to Lender fairly present the
financial condition of Guarantor as of

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the respective dates thereof, and no materially adverse change has occurred in
the financial conditions reflected therein since the respective dates thereof.
None of the aforesaid financial statements or any certificate or statement
furnished to Lender by or on behalf of Guarantor in connection with the
transactions contemplated hereby, and none of the representations and warranties
in this Guaranty contains any untrue statement of a material fact or omits to
state a material fact necessary in order to make the statements contained
therein or herein not materially misleading. Guarantor is not insolvent within
the meaning of the Bankruptcy Code or any other applicable law, code or
regulation and the execution, delivery and performance of this Guaranty will not
render Guarantor insolvent.

            SECTION 4. FINANCIAL STATEMENTS. Guarantor hereby agrees for the
benefit of Lender that Guarantor will deliver to Lender each of the financial
statements required to be delivered pursuant to Section 5.1 of the Loan
Agreement.

            SECTION 5. INTENTIONALLY DELETED.

            SECTION 6. UNCONDITIONAL CHARACTER OF OBLIGATIONS OF GUARANTOR.

            (a) The obligations of Guarantor hereunder shall be irrevocable,
absolute and unconditional, irrespective of the validity, regularity or
enforceability, in whole or in part, of the Note, the Loan Agreement, the
Mortgages or the other Loan Documents or any provision thereof, or the absence
of any action to enforce the same, any waiver or consent with respect to any
provision thereof, the recovery of any judgment against any Borrower, Guarantor
or any other Person or any action to enforce the same, any failure or delay in
the enforcement of the obligations of Borrowers under the Note, the Loan
Agreement, the Mortgages or any other Loan Documents or Guarantor under this
Guaranty, or any setoff, counterclaim, and irrespective of any other
circumstances which might otherwise limit recourse against Guarantor by Lender
or constitute a legal or equitable discharge or defense of a guarantor or
surety. Lender may enforce the obligations of Guarantor under this Guaranty by a
proceeding at law, in equity or otherwise, independent of any loan foreclosure
or similar proceeding or any deficiency action against Borrowers or any other
Person at any time, either before or after an action against the Properties or
any of them or any part thereof, Borrowers or any other Person. THIS GUARANTY IS
A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION.
Guarantor waives diligence, notice of acceptance of this Guaranty, filing of
claims with any court, any proceeding to enforce any provision of the Note, the
Loan Agreement, the Mortgages or any other Loan Documents, against Guarantor,
Borrowers or any other Person, any right to require a proceeding first against
Borrowers or any other Person, or to exhaust any security (including, without
limitation, the Properties or any of them or any part thereof) for the
performance of the Guaranteed Obligations or any other obligations of Borrowers
or any other Person, or any protest, presentment, notice of default (except as
may be expressly required under the Loan Documents) or other notice or demand
whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not
be discharged of its obligations hereunder.

            (b) The obligations of Guarantor under this Guaranty, and the rights
of Lender to enforce the same by proceedings, whether by action at law, suit in
equity or otherwise, shall not be in any way affected by any of the following:

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                  (i) any insolvency, bankruptcy, liquidation, reorganization,
      readjustment, composition, dissolution, receivership, conservatorship,
      winding up or other similar proceeding involving or affecting any
      Borrower, any Property or any part thereof, Guarantor or any other Person;

                  (ii) any failure by Lender or any other Person, whether or not
      without fault on its part, to perform or comply with any of the terms of
      the Loan Agreement, or any other Loan Documents, or any document or
      instrument relating thereto;

                  (iii) except (A) with respect to activities occurring after
      the date of a Permitted Assumption or, (B) activities relating to a
      Released Property after the date of a Release with respect thereto, the
      sale, transfer or conveyance of any Property or any interest therein to
      any Person, whether now or hereafter having or acquiring an interest in
      any Property or any interest therein and whether or not pursuant to any
      foreclosure, trustee sale or similar proceeding against any Borrower or
      any Property or any interest therein;

                  (iv) the conveyance to Lender, any Affiliate of Lender or
      Lender's nominee of any Property or any interest therein by a deed-in-lieu
      of foreclosure;

                  (v) the release of any Borrower or any other Person from the
      performance or observance of any of the agreements, covenants, terms or
      conditions contained in any of the Loan Documents by operation of law or
      otherwise;

                  (vi) the release in whole or in part of any collateral for any
      or all Guaranteed Obligations or for the Loan or any portion thereof; or

                  (vii) the exercise by Mezzanine Lender of any remedies made
      available to Mezzanine Lender pursuant to the terms of the Mezzanine Loan
      Documents, including, without limitation, foreclosure or similar remedies
      under any pledge agreement encumbering Mezzanine Borrower's interest in
      any General Partner, any Member, and/or any Borrower except with respect
      to actions taken by the Mezzanine Lender following the Mezzanine Lender
      succeeding to the interests of the Mezzanine Borrowers in and to the
      Borrowers.

            (c) Except as otherwise specifically provided in this Guaranty,
Guarantor hereby expressly and irrevocably waives all defenses in an action
brought by Lender to enforce this Guaranty based on claims of waiver, release,
surrender, alteration or compromise and all setoffs, reductions, or impairments,
whether arising hereunder or otherwise.

            (d) Lender may deal with Borrowers and Affiliates of Borrowers in
the same manner and as freely as if this Guaranty did not exist and shall be
entitled, among other things, to grant Borrowers or any other Person such
extension or extensions of time to perform any act or acts as may be deemed
advisable by Lender, at any time and from time to time, without terminating,
affecting or impairing the validity of this Guaranty or the obligations of
Guarantor hereunder.

            (e) No compromise, alteration, amendment, modification, extension,
renewal, release or other change of, or waiver, consent, delay, omission,
failure to act or other action with

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respect to, any liability or obligation under or with respect to, or of any of
the terms, covenants or conditions of, the Note, the Loan Agreement, the
Mortgages or the other Loan Documents or any amendment, modification or other
change of any legal requirement shall in any way alter, impair or affect any of
the obligations of Guarantor hereunder, and Guarantor agrees that if any Loan
Documents are modified with Lender's consent, the Guaranteed Obligations shall
automatically be deemed modified to include such modifications.

            (f) Lender may proceed to protect and enforce any or all of its
rights under this Guaranty by suit in equity or action at law, whether for the
specific performance of any covenants or agreements contained in this Guaranty
or otherwise, or to take any action authorized or permitted under applicable
law, and shall be entitled to require and enforce the performance of all acts
and things required to be performed hereunder by Guarantor. Each and every
remedy of Lender shall, to the extent permitted by law, be cumulative and shall
be in addition to any other remedy given hereunder or now or hereafter existing
at law or in equity.

            (g) No waiver shall be deemed to have been made by Lender of any
rights hereunder unless the same shall be in writing and signed by Lender, and
any such waiver shall be a waiver only with respect to the specific matter
involved and shall in no way impair the rights of Lender or the obligations of
Guarantor to Lender in any other respect or at any other time.

            (h) At the option of Lender, Guarantor may be joined in any action
or proceeding commenced by Lender against Borrowers in connection with or based
upon the Note, the Loan Agreement, the Mortgages or any other Loan Documents and
recovery may be had against Guarantor in such action or proceeding or in any
independent action or proceeding against Guarantor to the extent of Guarantor's
liability hereunder, without any requirement that Lender first assert, prosecute
or exhaust any remedy or claim against Borrowers or any other Person, or any
security for the obligations of Borrowers or any other Person.

            (i) Guarantor agrees that this Guaranty shall continue to be
effective or shall be reinstated, as the case may be, if at any time any payment
is made by Borrowers or Guarantor to Lender and such payment is rescinded or
must otherwise be returned by Lender (as determined by Lender in its sole and
absolute discretion) upon insolvency, bankruptcy, liquidation, reorganization,
readjustment, composition, dissolution, receivership, conservatorship, winding
up or other similar proceeding involving or affecting any Borrower or Guarantor,
all as though such payment had not been made.

            (j) In the event that Guarantor shall advance or become obligated to
pay any sums under this Guaranty or in connection with the Guaranteed
Obligations or in the event that for any reason whatsoever any Borrower or any
subsequent owner of any Property or any part thereof is now, or shall hereafter
become, indebted to Guarantor, Guarantor agrees that (i) the amount of such sums
and of such indebtedness and all interest thereon shall at all times be
subordinate as to the lien, the time of payment and in all other respects to all
sums, including principal and interest and other amounts, at any time owed to
Lender under the Loan Documents, and (ii) Guarantor shall not be entitled to
enforce or receive payment thereof until all principal, interest and other sums
due pursuant to the Loan Documents have been paid in full. Nothing herein
contained is intended or shall be construed to give Guarantor any right of
subrogation in or under the Loan Documents or any right to participate in any
way therein, or in the right, title or interest of Lender

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in or to any collateral for the Loan, notwithstanding any payments made by
Guarantor under this Guaranty, until the actual and irrevocable receipt by
Lender of payment in full of all principal, interest and other sums due with
respect to the Loan or otherwise payable under the Loan Documents. If any amount
shall be paid to Guarantor on account of such subrogation rights at any time
when any such sums due and owing to Lender shall not have been fully paid, such
amount shall be paid by Guarantor to Lender for credit and application against
such sums due and owing to Lender. The foregoing shall not prohibit Borrowers
from using the proceeds of the Loan for any permitted use under the Loan
Agreement, including, without limitation, the making of distributions to
Guarantor.

            (k) Guarantor's obligations hereunder shall survive a foreclosure,
delivery of a deed-in-lieu of foreclosure, the exercise of any power of sale or
similar proceeding involving any Property or any part thereof and the exercise
by Lender of any of all of its remedies pursuant to the Loan Documents.
Notwithstanding the foregoing to the contrary, the obligations and liabilities
of Guarantor under this Guaranty shall survive for a period of two (2) years
following payment in full of the Obligations in accordance with the terms of the
Loan Documents, provided, however, in the event that any Guaranteed Obligations
or liabilities of the Guarantor under this Guaranty shall have arisen prior to
the expiration of such period, then in any such event the foregoing survival
period shall not apply and the obligations and liabilities of Guarantor
hereunder shall survive.

            SECTION 7. ENTIRE AGREEMENT/AMENDMENTS. THIS INSTRUMENT REPRESENTS
THE ENTIRE AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER
HEREOF. THE TERMS OF THIS GUARANTY SHALL NOT BE WAIVED, ALTERED, MODIFIED,
AMENDED, SUPPLEMENTED OR TERMINATED IN ANY MANNER WHATSOEVER EXCEPT BY WRITTEN
INSTRUMENT SIGNED BY LENDER AND GUARANTOR.

            SECTION 8. SUCCESSORS AND ASSIGNS. This Guaranty shall be binding
upon Guarantor, and its successors and assigns, may not be assigned or delegated
by Guarantor and shall inure to the benefit of Lender and its successors and
assigns. Lender shall have the right to assign this Guaranty and the obligations
hereunder in connection with any assignment or transfer of all or any portion of
the Loan or any interest therein. All references to "Lender" hereunder shall be
deemed to include the successors and assigns of Lender and the parties hereto
acknowledge that actions taken by Lender hereunder may be taken by Lender's
agents and by the agents of the successors and assigns of Lender.

            SECTION 9. APPLICABLE LAW AND CONSENT TO JURISDICTION. This Guaranty
shall be governed by, and construed in accordance with, the substantive laws of
the State of New York. Guarantor irrevocably (a) agrees that any suit, action or
other legal proceeding arising out of or relating to this Guaranty may be
brought in a court of record in the City and County of New York or in the Courts
of the United States of America located in the Southern District of New York,
(b) consents to the jurisdiction of each such court in any such suit, action or
proceeding and (c) waives any objection which it may have to the laying of venue
of any such suit, action or proceeding in any of such courts and any claim that
any such suit, action or proceeding has been brought in an inconvenient forum.
Guarantor irrevocably consents to the service of any and all process in any such
suit, action or proceeding by service of copies of such process to Guarantor at
its address set forth on the first page hereof. Nothing in this Section 9,
however, shall affect the right of Lender to serve legal process in any other
manner permitted by law or affect the right of

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Lender to bring any suit, action or proceeding against Guarantor or its property
in the courts of any other jurisdictions.

            SECTION 10. SECTION HEADINGS. The headings of the sections and
paragraphs of this Guaranty have been inserted for convenience of reference only
and shall in no way define, modify, limit or amplify any of the terms or
provisions hereof.

            SECTION 11. SEVERABILITY. Any provision of this Guaranty which may
be determined by any competent authority to be prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, Guarantor hereby
waives any provision of law which renders any provision hereof prohibited or
unenforceable in any respect.

            SECTION 12. WAIVER OF TRIAL BY JURY. EACH OF GUARANTOR AND LENDER
HEREBY WAIVES THE RIGHT OF TRIAL BY JURY IN ANY LITIGATION, ACTION OR PROCEEDING
ARISING HEREUNDER OR IN CONNECTION THEREWITH.

            SECTION 13. OTHER GUARANTIES; SINGULAR AND PLURAL; JOINT AND SEVERAL
LIABILITY.

            (a) The obligations of Guarantor hereunder are separate and distinct
from, and in addition to, the obligations of Guarantor now or hereafter arising
under the other guaranties pursuant to which Guarantor has guaranteed the
payment and performance of certain other obligations of Borrowers described
therein.

            (b) If there is more than one entity comprising Guarantor, all
references to Guarantor herein shall be to Guarantor (but not its members,
partners, employees, shareholders, agents, directors or officers) or any one or
more of them. All obligations and liabilities of Guarantor hereunder are in
addition to, not in lieu of and are independent of: (i) all obligations of
Borrowers under any other Loan Document, including the Note and the Loan
Agreement; and (ii) any obligation of Guarantor under any other Loan Document to
which Guarantor is a party.

            (c) If there is more than one entity comprising Guarantor, all
obligations of Guarantor hereunder shall be joint and several.

            SECTION 14. NOTICES. All notices, demands, requests, consents,
approvals or other communications required or permitted to be given hereunder to
Lender or Guarantor or which are given to Lender or Guarantor with respect to
this Guaranty shall be in writing and shall be delivered to Lender at the
address set forth in Section 14.5 of the Loan Agreement and to Guarantor at the
address set forth on the first page hereof, each in the manner provided in
Section 14.5 of the Loan Agreement. Guarantor agrees to give Lender not less
than ten (10) days' prior written notice of any change in the location of
Guarantor's principal place of business.

            SECTION 15. GUARANTOR'S RECEIPT OF LOAN DOCUMENTS. Guarantor by its
execution hereof acknowledges receipt of true copies of all of the Loan
Documents, the terms and conditions of which are hereby incorporated herein by
reference.

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            SECTION 16. INTEREST; EXPENSES.

            (a) If Guarantor fails to pay all or any sums due hereunder within
ten (10) days of demand by Lender, the amount of such sums payable by Guarantor
to Lender shall bear interest from the date of demand until paid at the Default
Rate in effect from time to time.

            (b) Guarantor hereby agrees to pay all reasonable out of pocket
costs, charges and expenses, including, without limitation, reasonable
attorneys' fees and disbursements, that may be incurred by Lender in enforcing
the covenants, agreements, obligations and liabilities of Guarantor under this
Guaranty.

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            IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the
date first above written.

                                    GUARANTOR:

                                    LODGIAN, INC., a Delaware
                                    corporation

                                    By: /s/ Daniel E. Ellis
                                        ----------------------------
                                        Name: Daniel E. Ellis
                                        Title: Senior Vice President

Guaranty of Recourse Obligations [FX-2]<PAGE>

                                                                  EXHIBIT 10.3.4

                                 CROSS-GUARANTY

            THIS CROSS-GUARANTY (this "Agreement" or "Guaranty"), made as of
June 25, 2004, from the parties listed as Guarantors on the signature pages
hereto (collectively, the "Guarantors"), each having an address at c/o Lodgian,
3445 Peachtree Road NE, Suite 700, Atlanta, Georgia 30326 to MERRILL LYNCH
MORTGAGE LENDING, INC., a Delaware corporation, having an office at Four World
Financial Center, 16th Floor, 250 Vesey Street, New York, New York 10080
(together with its successors and assigns, "Lender").

                                   WITNESSETH:

            WHEREAS, Lender has agreed to make three (3) loans (respectively,
the "Pool 1 Loan," "Pool 3 Loan," and "Pool 4 Loan," and collectively, the
"Loans") to the respective borrowers described on Exhibit A (respectively, the
"Pool 1 Borrowers," "Pool 3 Borrowers," and "Pool 4 Borrowers," and
collectively, the "Borrowers"), in the amounts set forth on Exhibit A; and

            WHEREAS, to evidence the respective Loans, the respective Borrowers
have executed and delivered those certain Promissory Notes, each dated as of the
date hereof, in the principal amounts of the respective Loans (respectively,
"Note 1," "Note 3" and "Note 4," and collectively, the "Notes"), pursuant to
those certain Loan and Security Agreements, each dated as of the date hereof,
among the respective Borrowers and Lender as more particularly described on
Exhibit A (respectively, "Loan Agreement 1," "Loan Agreement 3" and "Loan
Agreement 4," and collectively, the "Loan Agreements"); and

            WHEREAS, capitalized terms used but not otherwise defined herein
shall have the respective meanings given thereto in the respective Loan
Agreements or Guarantor Loan Agreement (hereinafter defined), as applicable; and

            WHEREAS, the Notes shall be secured by, among other things, the
Mortgages encumbering the Properties; and

            WHEREAS, simultaneously with the making of the Loans, Guarantors are
obtaining a loan in the amount of $67,864,000 (the "Guarantor Loan") from Lender
pursuant to that certain Loan and Security Agreement, dated as of the date
hereof, by and between the Guarantors and Lender (the "Guarantor Loan
Agreement"; and together with the other documents and agreements evidencing
and/or securing the Guarantor Loan, collectively, the "Guarantor Loan
Documents"); and

            WHEREAS, it is a condition precedent to Lender making the Guarantor
Loan to Guarantors that Guarantors, among other things, guaranty the Loans
pursuant to this Guaranty and grant to Lender Mortgages on the Properties (as
defined in the Guarantor Loan Agreement, and hereinafter referred to as the
"Guarantor Properties") as security for their obligations hereunder; and

            WHEREAS, Guarantors shall derive substantial economic benefits from
the simultaneous making of the Guarantor Loan and Loans by Lender to Guarantors
and Borrowers, respectively; and

            WHEREAS, as a condition precedent to the making of the Loans,
Borrowers have agreed to procure and deliver to Lender this Agreement; and

            WHEREAS, Lender has declined to make the Loans or the Guarantor Loan
unless this Agreement is duly executed by Guarantors and delivered to Lender.

Cross-Guaranty (Fixed 2)

<PAGE>

            NOW, THEREFORE, in consideration for, and as an inducement to,
Lender's making the Loans and the Guarantor Loan, and for other good and
valuable consideration the legal sufficiency of which and receipt thereof are
hereby acknowledged, and notwithstanding any provision to the contrary contained
in the Guarantor Loan Agreement, the Guarantor Loan Documents, the Loan
Agreements, the Notes, the Mortgages or any of the other Loan Documents, but
subject to the provisions of Article XII of the Guarantor Loan Agreement, Lender
and Guarantors do hereby agree as follows:

            1.    Guarantors, on behalf of themselves and their successors and
assigns (collectively, "Successors") do hereby absolutely, unconditionally,
irrevocably and personally: (i) guaranty to Lender the full and prompt payment
and performance when due of the Loans and all other Obligations of the Borrowers
under the Loan Agreements and (ii) agree to reimburse Lender for, and hold
Lender harmless from and against, any and all losses, damages, claims, expenses,
deficiencies, liabilities and costs (including, without limitation, reasonable
attorneys' fees and disbursements) incurred, suffered or sustained by Lender
and/or its successors and assigns as a result of or arising out of, in
connection with or resulting from, the enforcement of this Agreement against
Guarantors (the obligations of Guarantors under clauses (i) and (ii) above being
referred to hereinafter, collectively, as "Guarantors' Obligations").

            Notwithstanding the foregoing, or anything else to the contrary
contained herein, in the event that any of the Guarantors shall become an
Excluded Borrower and the Guarantor Loan shall become an Excluded Loan pursuant
to Lender's election under Section 2.12(G) of the Guarantor Loan Agreement to
cause any of the Loans to no longer be secured by the Guarantor Properties, this
Guaranty shall automatically terminate and shall be of no further force or
effect.

            2.    It is agreed that the obligations of Guarantors hereunder
shall be primary and this Agreement shall be enforceable against Guarantors and
their Successors without the necessity for any suit or proceeding of any kind or
nature whatsoever brought by Lender against Borrowers or their respective
successors or assigns or any other party or against any security for the payment
of the Guarantors' Obligations and without the necessity of any notice of
non-payment or non-observance or of any notice of acceptance of this Agreement
or of any notice of demand to which Guarantors might otherwise be entitled
(including, without limitation, diligence, presentment, notice of maturity,
extension of time, protest, notice of dishonor or default, change in nature or
form of the Guarantors' Obligations, acceptance of further security, release of
further security, imposition or agreement arrived at as to the amount of or the
terms of the Guarantors' Obligations, notice of adverse change in Borrowers'
financial condition and any other fact that might materially increase the risk
to Guarantors), all of which Guarantors hereby expressly waive. Guarantors
hereby expressly agree that the validity of this Agreement and the obligations
of Guarantors hereunder shall in no way be terminated, affected, diminished,
modified or impaired by reason of the assertion of or the failure to assert by
Lender against Borrowers, or their successors or assigns, any of the rights or
remedies reserved to Lender pursuant to the provisions of the Guarantor Loan
Agreement, the Loan Agreements, the Notes, the Mortgages or any other Loan
Documents.

            3.    Guarantors waive, and covenant and agree that they will not at
any time insist upon, plead or in any manner whatsoever claim or take the
benefit or advantage of, any and all appraisal, valuation, stay, extension,
marshaling-of-assets or redemption laws, or right of homestead or exemption,
whether now or at any time hereafter in force, that may delay, prevent or
otherwise affect the performance by Guarantors of their obligations under, or
the enforcement by Lender of, this Agreement. Guarantors further covenant and
agree not to set up or claim any defense, counterclaim, cross-claim, offset,
set-off, right of recoupment, or other objection of any kind to any action, suit
or proceeding in law, equity or otherwise, or to any demand or claim that may be
instituted or made by Lender hereunder other than the defense of the actual
timely performance of Guarantors' Obligations hereunder. Guarantors represent,
warrant and agree that, as of the date hereof, their obligations under this
Agreement are not subject to any

                                        2

Cross-Guaranty (Fixed 2)

<PAGE>
counterclaims, cross-claims, rights of recoupment, offsets or affirmative or
other defenses of any kind against Lender.

            4.    Guarantors agree that any notice or directive given at any
time by Guarantors to Lender that is inconsistent with any waiver contained in
this Agreement shall be void and may be ignored by Lender, and, in addition, may
not be pleaded or introduced as evidence in any litigation relating to this
Agreement for the reason that such pleading or introduction would be at variance
with the written terms of this Agreement, unless Lender has specifically agreed
otherwise in a writing, signed by a duly authorized officer. Guarantors
specifically acknowledge and agree that the foregoing waivers are of the essence
of the Loan transaction and that, but for this Agreement and such waivers,
Lender would not make the Loans to Borrowers.

            5.    The provisions of this Agreement are for the benefit of Lender
and its successors and assigns, and nothing herein contained shall impair, as
between Borrowers and Lender, the obligations of Borrowers under the Loan
Agreements, the Notes, the Mortgages or any of the other Loan Documents.

            6.    This Agreement shall be a continuing guaranty and the
liability of Guarantors hereunder shall in no way be terminated, affected,
modified, impaired or diminished (to the extent permitted by law) by reason of
the happening, from time to time, of any of the following, although without
notice or the further consent of Guarantors:

            (a)   any assignment, amendment, modification or waiver of or change
      in any of the terms, covenants, conditions or provisions of the Guarantor
      Loan Agreement, the Loan Agreements, the Notes, the Mortgages or any of
      the other Loan Documents or the invalidity or unenforceability of any of
      the foregoing; or

            (b)   any extension of time that may be granted by Lender to
      Borrowers, Guarantors or Guarantors' Successors; or

            (c)   any action that Lender or Borrowers may take or fail to take
      under or in respect of any of the Loan Documents or by reason of any
      waiver of, or failure to enforce any of the rights, remedies, powers or
      privileges available to Lender under this Agreement or available to Lender
      at law, equity or otherwise, or any action on the part of Lender or
      Borrowers granting indulgence or extension in any form whatsoever; or

            (d)   any dealing, transaction, matter or thing occurring between
      Lender, Borrowers, Guarantors or Guarantors' Successors; or

            (e)   any sale, exchange, release, or other disposition of any
      property pledged, Mortgaged or conveyed, or any property in which Lender
      has been granted a lien or security interest to secure any indebtedness of
      Borrowers to Lender; or

            (f)   any release of any person or entity who may be liable in any
      manner for the payment and collection of any amounts owed by Borrowers to
      Lender (including the other Guarantors); or

            (g)   the application of any sums by whomsoever paid or however
      realized to any amounts owing by Borrowers to Lender in such manner as
      Lender shall determine in its sole discretion; or

                                        3

Cross-Guaranty (Fixed 2)

<PAGE>

            (h)   any Event of Default (as such term is defined in the Guarantor
      Loan Agreement and the Loan Agreements), whether or not Lender has
      exercised any of its rights and remedies as set forth in the Guarantor
      Loan Agreement or the Mortgages upon the happening of any such Event of
      Default; or

            (i)   Borrowers' and/or Guarantors' voluntary or involuntary
      liquidation, dissolution, sale of all or substantially all of their
      respective assets and liabilities, appointment of a trustee, receiver,
      liquidator, sequestrator or conservator for all or any part of Borrowers'
      or Guarantors' assets, insolvency, bankruptcy, assignment for the benefit
      of creditors, reorganization, arrangement, composition or readjustment, or
      the commencement of other similar proceedings affecting Borrowers or
      Guarantors or any of the assets of either of them, including, without
      limitation, (A) the release or discharge of Borrowers from the payment and
      performance of their obligations under any of the Loan Documents by
      operation of law, or (B) the impairment, limitation or modification of the
      liability of Borrowers, their partners or Guarantors in bankruptcy, or of
      any remedy for the enforcement of the Guarantors' Obligations, under any
      of the Loan Documents, or Guarantors' liability under this Agreement,
      resulting from the operation of any present or future provisions of the
      Federal Bankruptcy Code or other present or future federal, state or
      applicable statute of law or from the decision in any court; or

            (j)   any change in or termination of the ownership interest of
      Guarantors in Borrowers (whether direct or indirect); or

            (k)   any conveyance of the Mortgaged Properties, whether or not
      pursuant to a foreclosure sale, a deed in lieu of foreclosure, a transfer
      through bankruptcy, or otherwise.

            7.    Guarantors acknowledge that this Guaranty and Guarantors'
Obligations are and shall at all times continue to be absolute, unconditional
and irrevocable in all respects, and shall at all times be valid and enforceable
irrespective of any other agreement or circumstances of any nature whatsoever
that might otherwise constitute a defense to this Guaranty or the obligations of
any other person or party (including, without limitation, Borrower or any other
guarantor) relating to this Guaranty or the obligations of Guarantors hereunder.

            8.    Guarantors agree that if at any time all or any part of any
payment at any time received by Lender from Borrowers or Guarantors under or
with respect to this Agreement is or must be rescinded or returned by Lender for
any reason whatsoever (including, without limitation, the insolvency, bankruptcy
or reorganization of Borrowers or Guarantors), then Guarantors' Obligations
hereunder shall, to the extent of the payment rescinded or returned, be deemed
to have continued in existence notwithstanding such previous receipt by Lender,
and Guarantors' Obligations hereunder shall continue to be effective or
reinstated, as the case may be, as to such payment, as though such previous
payment to Lender had never been made.

            9.    Until repayment of the Indebtedness (as such term is defined
in the Guarantor Loan Agreement and the Loan Agreements) and satisfaction of all
of the obligations under the Guarantor Loan Agreement, Guarantors and each of
them (a) shall have no right of subrogation against Borrowers, general partner
of any Borrower that is a limited partnership or any other Guarantor by reason
of any payments or acts of performance by a Guarantor in compliance with the
obligations of a Guarantor hereunder; (b) shall have no right of indemnity,
contribution, or any other right or cause of action whatsoever under law or
equity against any other Guarantor by reason of any payments or acts of
performance by a Guarantor in compliance with the obligations of a Guarantor
hereunder; (c) hereby waive any right to enforce any remedy that any Guarantors
now or hereafter shall have against Borrowers, general partner of any Borrower
that is a limited partnership or any other Guarantor by reason of any one

                                       4

Cross-Guaranty (Fixed 2)

<PAGE>

or more payments or acts of performance in compliance with the obligations of a
Guarantor hereunder; (d) shall subordinate any liability or indebtedness of
Borrowers, general partner of any Borrower that is a limited partnership or any
Guarantor now or hereafter held by any Guarantor or any affiliate of a Guarantor
to the obligations of Borrowers, general partner of any Borrower that is a
limited partnership or Guarantor to Lender under the Loan Documents; and (e)
shall not file, assert or receive payment on any claim, whether now existing or
hereafter arising, against Borrowers, general partner of any Borrower that is a
limited partnership or any Guarantor in the event of the commencement of a case
by or against Borrowers, general partner of any Borrower that is a limited
partnership or any Guarantor under federal or state insolvency laws.

            10.   Guarantors represent and warrant to Lender, with the knowledge
that Lender is relying upon the same, as follows:

            (a)   Guarantors are solvent and have the legal right to enter into
      this Agreement and to perform their obligations under the terms hereof;

            (b)   to the best of Guarantors' knowledge, there is no action,
      suit, proceeding or investigation pending or threatened against or
      affecting Guarantors at law, in equity, in admiralty or before any
      arbitrator or any governmental department, commission, board, bureau,
      agency or instrumentality (domestic or foreign) that is likely to result
      in any material adverse change in the property, assets or condition
      (financial or otherwise) of Guarantors or that is likely to impair
      materially the ability of Guarantors to perform their obligations under
      this Agreement; and

            (c)   all financial statements that have heretofore been furnished
      by Guarantors to Lender in connection with this Agreement, are true,
      correct and complete; and fairly present the financial condition of
      Guarantors, all as of the respective dates thereof.

            11.   Guarantors and Lender acknowledge and agree that this
Agreement is a guaranty of payment and performance and not of collection and
enforcement in respect of any of the Guarantors' Obligations.

            12.   Lender may freely assign any or all of its rights under this
Agreement, but any such assignment shall be made only to the subsequent holder
of any of the Notes and no such assignment shall increase Guarantors'
Obligations or diminish its rights hereunder. In the event of any such
assignment, the consent of Guarantors shall not be required for any such
assignment and failure to give notice of such assignment shall not affect the
validity or enforceability of any such assignment or subject Lender to any
liability and Guarantors shall continue to remain bound by and obligated to
perform under and with respect to this Agreement. Guarantors shall not assign
any of their obligations under this Agreement without the prior consent of the
Lender.

            13.   The representations, warranties and obligations of Guarantor
set forth in this Agreement shall survive until this Agreement shall terminate
in accordance with the terms hereof.

            14.   This Agreement contains the entire agreement between the
parties hereto with respect to the subject matter hereof and supersedes all
prior agreements relating to such subject matter and may not be modified,
amended, supplemented or discharged except by a written agreement signed by
Guarantors and Lender. This Agreement also may be discharged by full performance
of the Guarantors' Obligations in accordance with the terms hereof, or as
otherwise provided herein.

            15.   If all or any portion of any provision contained in this
Agreement shall be determined to be invalid, illegal or unenforceable in any
respect for any reason, such provision or portion

                                        5

Cross-Guaranty (Fixed 2)

<PAGE>

thereof shall be deemed stricken and severed from this Agreement and the
remaining provision and portions thereof shall continue in full force and
effect.

            16.   All notices, requests, demands and other communications under
or in connection with this Agreement shall be in writing and shall be deemed to
have been given or made (i) three (3) days after the date such notice is mailed,
(ii) on the next Business Day if sent by a nationally recognized overnight
courier service, (iii) on the date of delivery by personal delivery and (iv) on
the date of transmission if sent by telefax during business hours on a Business
Day (otherwise the next Business Day). Notices shall be addressed as follows:

            If to Guarantors:   The address listed above

            With a copy to:     Morris Manning & Martin, LLP
                                3343 Peachtree Rd., NE
                                1600 Atlanta Financial Center
                                Atlanta, Georgia  30326
                                Attn.: Thomas Gryboski, Esq.
                                Facsimile: (404) 365-9532

            If to Lender:       The address listed above

            With a copy to:     Sidley Austin Brown & Wood LLP
                                787 Seventh Avenue
                                New York, New York  10019
                                Attn.: Robert L. Boyd, Esq.
                                Facsimile: (212) 839-5599

The above addresses may be changed on written notice given as hereinabove
provided. Notices may be sent by a party hereto or on its behalf by its
attorney.

            17.   This Agreement shall be binding upon Guarantors and their
Successors and shall inure to the benefit of Lender and its successors and
assigns.

            18.   The failure of Lender to enforce any right or remedy
hereunder, or promptly to enforce any such right or remedy, shall not constitute
a waiver thereof, nor give rise to any estoppel against Lender, nor excuse
Guarantors from their obligations hereunder. Any waiver of any such right or
remedy to be enforceable against Lender must be expressly set forth in writing
signed by Lender.

            19.   (a) Any suit initiated by Lender against Guarantors or in
      connection with or arising, directly or indirectly, out of or relating to,
      this Agreement (an "Action") may, at Lender's option, be brought in any
      state or federal court in the State of New York, or any state or federal
      court in which the property is located, having jurisdiction over the
      subject matter hereof. Guarantors hereby submit themselves to the
      jurisdiction of any such court and agree that service of process against
      Guarantors in any such action may be effected by any means permissible
      under federal law or under the laws of the state in which such Action is
      brought. Guarantors hereby agree that insofar as is permitted under
      applicable law, this consent to personal jurisdiction shall be
      self-operative and no further instrument or action, other than service of
      process in one of the manners specified in this Guaranty, or as otherwise
      permitted by law, shall be necessary in order to confer jurisdiction upon
      Guarantors.

                                       6

Cross-Guaranty (Fixed 2)

<PAGE>

            (b)   Guarantors agree that, provided that service of process is
      effected upon Guarantors in any manner permitted by law, Guarantors
      irrevocably waive, to the fullest extent permitted by law, and agree not
      to assert, by way of motion, as a defense or otherwise, (i) any objection
      that Guarantors may have or may hereafter have to the laying of the venue
      of any Action brought in any court as provided for by this Agreement, (ii)
      any claim that any Action brought in any such court has been brought in an
      inconvenient forum, or (iii) any claim that Guarantors are not personally
      subject to the jurisdiction of such court. Guarantors agree that, provided
      that service of process is effected upon Guarantors in one of the manners
      specified in this Guaranty or as otherwise permitted by law, a final
      judgment from which Guarantors have not appealed or may not appeal in any
      Action brought in any such court shall be conclusive and binding upon
      Guarantors and may, so far as permitted under applicable law, be enforced
      in the courts of any state or any federal court or in any other courts to
      the jurisdiction of which it is subject, by a suit upon such judgment and
      that Guarantors shall not assert any defense, counterclaim or set-off in
      any such suit upon such judgment.

            (c)   To the extent that Guarantors have or hereafter may acquire
      any immunity from jurisdiction of any court or from any legal process
      (whether through service or notice, attachment before judgment, attachment
      in aid of execution, execution or otherwise) with respect to Guarantors or
      Guarantors' property, Guarantors hereby irrevocably waive such immunity in
      respect of its obligations under this Agreement.

            (d)   As a further inducement to Lender's making of the Loans to
      Borrowers, and in consideration thereof, Lender and Guarantors each
      covenant and agree that in any action or proceeding brought on, under or
      by virtue of this Agreement, Lender and Guarantors each shall and do
      hereby unconditionally and irrevocably waive trial by jury.

            (e)   Guarantors hereby further covenant and agree to and with
      Lender that Guarantors may be joined in any action against Borrowers in
      connection with the Guarantor Loan Agreement, the Loan Agreements, the
      Notes, the Mortgages, or any of the other Loan Documents, solely with
      respect to the subject matter of this Agreement.

            (f)   Guarantors covenant and agree to indemnify and save Lender
      harmless of and from, and defend it against, all losses, costs,
      liabilities, expenses, damages or claims suffered by reason of Guarantors'
      failure to perform its obligations hereunder.

            20.   All of Lender's rights and remedies under the Guarantor Loan
Agreement, the Loan Agreements, the Notes, the Mortgages or any of the other
Loan Documents or under this Agreement are intended to be distinct, separate and
cumulative and no such right or remedy therein or herein mentioned is intended
to be in exclusion of or a waiver of any other right or remedy available to
Lender.

            21.   Guarantors hereby consent that from time to time, before or
after any default by Borrower, with or without further notice to or assent from
Guarantors, any security at any time held by or available to Lender for any
obligation of Borrowers, or any security at any time held by or available to
Lender for any obligation of any other person or party secondarily or otherwise
liable for all or any portion of the Loans, may be exchanged, surrendered or
released and any obligation of Borrowers, or of any such other person or party,
may be changed, altered, renewed, extended, continued, surrendered, compromised,
waived or released in whole or in part, or any default with respect thereto
waived, and Lender may fail to set off and may release, in whole or in part, any
balance of any deposit account or credit on its books in favor of Borrowers, or
of any such other person or party, and may extend further credit in any manner
whatsoever to Borrowers, and generally deal with Borrowers or any such security
or other person or party as Lender may see fit; and Guarantors shall remain
bound under this Agreement

                                        7

Cross-Guaranty (Fixed 2)

<PAGE>

notwithstanding any such exchange, surrender, release, change, alteration,
renewal, extension, continuance, compromise, waiver, action, inaction, extension
of further credit or other dealing. This Agreement is independent of, and in
addition to, all collateral granted, pledged or assigned under the Loan
Documents.

            22.   The terms of this Agreement have been negotiated, and this
Agreement has been executed and delivered in the State of New York, and it is
the intention of the parties hereto that this Agreement be construed and
enforced in accordance with the laws of such State.

            23.   This Agreement may not be changed orally, but only by an
agreement in writing signed by the party against whom enforcement of any waiver,
change, modification or discharge is sought.

            24.   This Agreement may be executed in counterparts, which together
shall constitute the same instrument.

            25.   All representations, warranties, covenants (both affirmative
and negative) and all other obligations under this Guaranty shall be the joint
and several obligation of each of the Guarantors and any default under this
Guaranty by any Guarantor shall be deemed a default by all such Guarantors.

                         [NO FURTHER TEXT ON THIS PAGE]

                                       8

Cross-Guaranty (Fixed 2)

<PAGE>

            IN WITNESS WHEREOF, Guarantor has executed and delivered this
Agreement as of the date and year first above written.

                                GUARANTORS:

                                ALBANY HOTEL, INC.
                                APICO INNS OF GREEN TREE, INC.
                                LODGIAN AUGUSTA LLC
                                LODGIAN HOTELS FIXED II, INC.
                                LODGIAN LAFAYETTE LLC
                                LODGIAN TULSA LLC

                                By: /s/ Daniel E. Ellis
                                    ----------------------------------
                                Name:  Daniel E. Ellis
                                Title: Vice President and Secretary, or
                                       Authorized Signatory for each of the
                                       entities listed above

                                AMI OPERATING PARTNERS, L.P.

                                By: AMIOP ACQUISITION GENERAL PARTNER
                                    SPE CORP., a Delaware corporation, its
                                    general partner

                                By: /s/ Daniel E. Ellis
                                    ----------------------------------
                                Name:  Daniel E. Ellis
                                Title: Vice President and Secretary, or
                                       Authorized Signatory

                                DEDHAM LODGING ASSOCIATES I, LIMITED PARTNERSHIP

                                By: DEDHAM LODGING SPE, INC.,
                                    a Delaware corporation, its general partner

                                By: /s/ Daniel E. Ellis
                                    ----------------------------------
                                Name:  Daniel E. Ellis
                                Title: Vice President and Secretary, or
                                       Authorized Signatory

Cross-Guaranty (Fixed 2)

<PAGE>

                                    EXHIBIT A

1.    Pool 1 Loan: Pursuant to a Loan and Security Agreement, dated as of the
      date hereof ("Loan Agreement 1"), between Impac Hotels I, L.L.C., Lodgian
      Denver LLC, Macon Hotel Associates, L.L.C., Servico Northwoods, Inc. and
      Lodgian Hotels Fixed I, LLC (collectively, the "Pool 1 Borrowers") and
      Lender, Lender has made a loan in the amount of $63,801,000 ("Pool 1
      Loan"), which loan is evidenced by a Promissory Note dated as of the date
      hereof ("Note 1"), made by the Pool 1 Borrowers to Lender;

2.    Pool 3 Loan: Pursuant to a Loan and Security Agreement, dated as of the
      date hereof ("Loan Agreement 3"), between Lodgian Hotels Fixed III, LLC,
      Lodgian AMI, Inc., Minneapolis Motel Enterprises, Inc. and Servico Centre
      Associates, Ltd. (collectively, the "Pool 3 Borrowers") and Lender, Lender
      has made a loan in the amount of $66,818,500 ("Pool 3 Loan"), which Loan
      is evidenced by a Promissory Note, dated as of the date hereof ("Note 3"),
      made by the Pool 3 Borrowers to Lender; and

3.    Pool 4 Loan: Pursuant to a Loan and Security Agreement, dated as of the
      date hereof ("Loan Agreement 4"), between Lodgian Hotels Fixed IV, L.P.,
      Little Rock Lodging Associates I, Limited Partnership, Lodgian Fairmont
      LLC, NH Motel Enterprises, Inc., Servico Columbia, Inc. and Servico
      Houston, Inc. (collectively, the "Pool 4 Borrowers") and Lender, Lender
      has made a loan in the amount of $61,516,500 ("Pool 4 Loan") which Loan is
      evidenced by a Promissory Note, dated as of the date hereof ("Note 4"),
      made by the Pool 4 Borrowers to Lender.

Cross-Guaranty (Fixed 2)

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