Document:

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                                                                 Exhibit 10.1(a)

                      AMENDED AND RESTATED PROMISSORY NOTE

U.S. $41,000,000.00                                               May 30, 2000

            FOR VALUE RECEIVED, and at the times hereinafter specified, ROGER P.
SONNABEND, PETER J. SONNABEND and BOY A.J. VAN RIEL, trustees of the
Charterhouse of Cambridge Trust, and not individually, under a Declaration of
Trust dated December 27, 1963 and recorded at Middlesex South Deeds Book 11160,
Page 340, as amended by Amendment of Declaration of Trust dated July 8, 1966 and
recorded at Middlesex South Deeds Book 11160, Page 359 ("Charterhouse"), and
SONESTA OF MASSACHUSETTS, INC., a Massachusetts corporation ("Sonesta," and,
together with Charterhouse, collectively, "Maker"), whose address is c/o Sonesta
International Hotels Corp., 200 Clarendon Street, 41st Floor, Boston,
Massachusetts 02116, hereby promises to pay to the order of SUNAMERICA LIFE
INSURANCE COMPANY, an Arizona corporation (hereinafter referred to, together
with each subsequent holder hereof, as "Holder"), at 1 SunAmerica Center,
Century City, Los Angeles, California 90067-6022, or at such other address as
may be designated from time to time hereafter by any Holder, the principal sum
of FORTY ONE MILLION AND NO/100THS DOLLARS ($41,000,000.00), together with
interest on the principal balance outstanding from time to time, as hereinafter
provided, in lawful money of the United States of America.

                                    Recitals.

            On or about January 6, 1997, Holder made a $22,880,000.00 loan to
Maker (the "Original Loan"). The Original Loan is evidenced by a Promissory Note
dated as of December 18, 1996 (the "Original Note") executed by Maker for the
benefit of Holder in the original principal amount of $22,880,000.00. Maker has
requested that Holder make an additional advance to Maker in the amount of
$19,865,733.66 (the "Additional Advance"). Immediately prior to Holder making
the Additional Advance, the outstanding principal balance existing under the
Original Loan will be $21,134,266.34 (the "Original Loan Principal Balance").
After Holder makes the Additional Advance, the aggregate principal indebtedness
owing by Maker to Holder under the Original Loan and the Additional Advance will
be, as of the date of such Additional Advance, $41,000,000.00 (the "New
Principal Balance"). This Amended and Restated Promissory Note (this "Note")
shall be effective as of the date Holder makes the Additional Advance to Maker
(the "Closing Date"), and upon Holder making such Additional Advance, (a) this
Note shall consolidate the Original Loan and the Additional Advance, and amend,
modify and restate in its entirety, the Original Note, and (b) the conditions
contained in this Note shall supersede and control the terms, covenants,
agreements, rights, obligations and conditions contained in the Original Note.

                                   Agreement.

            By its execution and delivery of this Note, Maker covenants and
agrees as follows:
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            1. Interest Rate and Payments.

                  (a) Commencing on the Closing Date, the balance of principal
outstanding from time to time under this Note (which, as of the Closing Date,
will be $41,000,000.00) shall bear interest at the rate of 8.60% per annum (the
"New Rate"), computed on the basis of a 360-day year for the actual number of
days elapsed.

                  (b) Accrued interest (if any) on the Original Loan Principal
Balance, at the interest rate set forth in the Original Note, shall be payable
on the Closing Date, in arrears. In addition, interest only, at the New Rate, on
the New Principal Balance shall be payable on the Closing Date, in advance, for
the period from and including the Closing Date through and including June 30,
2000.

                  (c) Commencing on August 1, 2000, and continuing on the first
day of each month thereafter through and including June 1, 2010, combined
payments of principal and interest shall be payable, in arrears, in the amount
of $332,910.63 each (such amount representing an amount that would be sufficient
to fully amortize the amount of this Note over a twenty-five (25) year period
(the "Amortization Period"), if such amortization were based on a three hundred
sixty (360) day year composed of twelve (12) months of thirty (30) days each).

                  (d) The entire outstanding principal balance, together with
all accrued and unpaid interest and all other sums due hereunder, shall be due
and payable in full on July 1, 2010 (the "Original Maturity Date").

            2. Holder's Extension Option; Net Operating Income.

                  (a) If Maker shall fail to pay the outstanding principal
balance of this Note and all accrued interest and other charges due hereon at
the Original Maturity Date, Holder shall have the right, at Holder's sole option
and discretion, to extend the term of the loan evidenced by this Note (the
"Loan") for an additional period of five (5) years (the "Extension Term"). If
Holder elects to extend the term of the Loan, Maker shall pay all fees of Holder
incurred in connection with such extension, including, but not limited to,
reasonable attorneys' fees and title insurance premiums. Maker shall execute all
documents reasonably requested by Holder to evidence and secure the Loan, as
extended, and shall obtain and provide to Holder any title insurance policy or
endorsement requested by Holder.

                  (b) Should Holder elect to extend the term of the Loan as
provided above, Holder shall (i) reset the interest rate borne by the
then-existing principal balance of the Loan to a rate per annum (the "Extension
Term Rate") equal to the greater of (A) the New Rate, or (B) Holder's (or
comparable lenders', if Holder is no longer making such loans) then-prevailing
interest rate for five (5) year loans secured by properties similar to the
Property (hereinafter defined), as determined by Holder in its sole discretion;
(ii) re-amortize the then-existing principal balance of the Loan over the
remaining portion of the Amortization Period (the "New Amortization Period");
(iii) have the right to require Maker to enter into modifications of the
non-economic terms of the Loan Documents as Holder may request (the
"Non-Economic
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Modifications"); and (iv) notwithstanding any provision set forth in the Loan
Documents to the contrary, have the right to require Maker to make monthly
payments into escrow for insurance premiums and real property taxes, assessments
and similar governmental charges. Hence, monthly principal and interest payments
during the Extension Term shall be based upon the Extension Term Rate, in an
amount that would be sufficient to fully amortize the outstanding principal
balance of the Loan over the New Amortization Period, if such amortization were
based on a three hundred sixty (360) day year composed of twelve (12) months of
thirty (30) days each.

                  (c) If Holder elects to extend the term of the Loan, Holder
shall advise Maker of the Extension Term Rate on or prior to the Original
Maturity Date.

                  (d) In addition to the required monthly payments of principal
and interest set forth above, commencing on the first day of the second month
following the Original Maturity Date and continuing on the first day of each
month thereafter during the Extension Term (each an "Additional Payment Date"),
Maker shall make monthly payments to Holder in an amount equal to all Net
Operating Income (hereinafter defined) attributable to the Property for the
calendar month ending on the last day of the month that is two months preceding
each such Additional Payment Date. For example, assuming the Original Maturity
Date is January 1, then Net Operating Income for the period from January 1
through January 31 shall be payable to Holder on March 1; Net Operating Income
for the period from February 1 through February 28 shall be payable to Holder on
April 1, and so on.

                  (e) Holder shall deposit all such Net Operating Income
received from Maker into an account or accounts maintained at a financial
institution chosen by Holder or its servicer in its sole discretion (the
"Deposit Account") and all such funds shall be invested in interest-bearing
investments in a manner acceptable to Holder in its sole and reasonable
discretion. All interest, dividends and earnings credited to the Deposit Account
shall be held and applied in accordance with the terms hereof.

                  (f) On the third Additional Payment Date and on each third
Additional Payment Date thereafter, Holder shall apply all Excess Funds
(hereinafter defined), if any, to prepayment of amounts due under this Note,
without premium or penalty.

                  (g) As security for the repayment of the Loan and the
performance of all other obligations of Maker under the Loan Documents, Maker
hereby assigns, pledges, conveys, delivers, transfers and grants to Holder a
first priority security interest in and to: all Maker's right, title and
interest in and to the Deposit Account; all rights to payment from the Deposit
Account and the money deposited therein or credited thereto (whether then due or
in the future due and whether then or in the future on deposit); all interest
thereon; any certificates, instruments and securities, if any, representing the
Deposit Account; all claims, demands, general intangibles, choses in action and
other rights or interests of Maker in respect of the Deposit Account; any monies
then or at any time thereafter deposited therein; any increases, renewals,
extensions, substitutions and replacements thereof; and all proceeds of the
foregoing.

                  (h) From time to time, but not more frequently than monthly,
Maker may request a disbursement (a "Disbursement") from the Deposit Account for
shortfalls in
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Operating Expenses (as defined in Section 2(k) below), capital expenses, tenant
improvement expenses, leasing commissions and special contingency expenses.
Holder may consent to or deny any such Disbursement in its sole discretion,
provided, however, that Holder shall consent to Disbursements to cover Operating
Expenses in months when Gross Revenue (as defined in Section 2(k) below) is
insufficient to pay such Operating Expenses, if (i) the budget approved by
Holder as provided in Section 3 below for the applicable period contemplates
such deficit between Gross Revenue and Operating Expenses for such months, (ii)
no Default or Event of Default shall exist, and (iii) funds in the Deposit
Account are sufficient to pay the requested Disbursement.

                  (i) Upon the occurrence of any Event of Default (i) Maker
shall not be entitled to any further Disbursement from the Deposit Account; and
(ii) Holder shall be entitled to take immediate possession and control of the
Deposit Account (and all funds contained therein) and to pursue all of its
rights and remedies available to Holder under the Loan Documents, at law and in
equity.

                  (j) All of the terms and conditions of the Loan shall apply
during the Extension Term, except as expressly set forth above, and except that
no further extensions of the Loan shall be permitted.

                  (k) For the purposes of the foregoing:

                        (i) "Excess Funds" shall mean, on any Additional Payment
      Date, the amount of funds then existing in the Deposit Account (including
      any Net Operating Income due on the applicable Additional Payment Date),
      less an amount equal to the sum of three regularly scheduled payments of
      principal and interest due on this Note;

                        (ii) "Net Operating Income" shall mean, for any
      particular period of time, Gross Revenue for the relevant period, less
      Operating Expenses for the relevant period; provided, however, that if
      such amount is equal to or less than zero (0), Net Operating Income shall
      equal zero (0);

                        (iii) "Gross Revenue" shall mean all payments and other
      revenues (exclusive, however, of any payments attributable to sales taxes)
      received by or on behalf of Maker from all sources related to the
      ownership or operation of the Property, including, but not limited to,
      rents, room charges, parking fees, interest, business interruption
      insurance proceeds, operating expense pass-through revenues and common
      area maintenance charges, for the relevant period for which the
      calculation of Gross Revenue is being made; and

                        (iv) "Operating Expenses" shall mean the sum of all
      ordinary and necessary operating expenses actually paid or incurred by
      Maker in connection with the operation of the Property during the relevant
      period for which the calculation of Operating Expenses is being made,
      including, but not limited to, (a) payments made by Maker for taxes and
      insurance required under the Loan Documents, (b) monthly debt

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      service payments as required under this Note, (c) federal and state income
      taxes, and (d) amounts contributed by Maker to the Replacement Reserve
      Account (as defined in the Replacement Reserve and Security Agreement
      executed by Maker for the benefit of Holder, as amended).

            3. Budgets During Extension Term.

                  (a) Within fifteen (15) days following the Original Maturity
Date and on or before December 1 of each subsequent calendar year, Maker shall
deliver to Holder a proposed revenue and expense budget for the Property for the
remainder of the calendar year in which the Original Maturity Date occurs or the
immediately succeeding calendar year (as applicable). Such budget shall set
forth Maker's projection of Gross Revenue and Operating Expenses for the
applicable calendar year, which shall be subject to Holder's reasonable
approval. Once a proposed budget has been reviewed and approved by Holder, and
Maker has made all revisions reasonably requested by Holder, if any, the revised
budget shall be delivered to Holder and shall thereafter become the budget for
the Property hereunder (the "Budget") for the applicable calendar year. If Maker
and Holder are unable to agree upon a Budget for any calendar year, the budgeted
Operating Expenses (excluding extraordinary items) provided in the Budget for
the Property for the preceding calendar year shall be considered the Budget for
the Property for the subject calendar year until Maker and Holder agree upon a
new Budget for such calendar year.

                  (b) During the Extension Term, Maker shall operate the
Property in accordance with the Budget for the applicable calendar year, and the
total of expenditures relating to the Property exceeding one hundred and five
percent (105%) of the aggregate of such expenses set forth in the Budget for the
applicable time period shall not be treated as Operating Expenses for the
purposes of calculating "Net Operating Income," without the prior written
consent of Holder except for emergency expenditures which, in the Maker's good
faith judgment, are reasonably necessary to protect, or avoid immediate danger
to, life or property.

            4. Reports During Extension Term.

                  (a) During the Extension Term, Maker shall deliver to Holder
all financial statements reasonably required by Holder to calculate Net
Operating Income, including, without limitation, a monthly statement to be
delivered to Holder concurrently with Maker's payment of Net Operating Income
that sets forth the amount of Net Operating Income accompanying such statement
and Maker's calculation of Net Operating Income for the relevant calendar month.
Such statements shall be certified by an executive officer of Maker or Maker's
manager, managing member or general partner (as applicable) as having been
prepared in accordance with the terms hereof and to be true, accurate and
complete in all material respects.

                  (b) In addition, on or before February 15 of each calendar
year during the Extension Term, Maker shall submit to Holder an annual income
and expense statement for the Property which shall include the calculation of
Gross Revenue, Operating Expenses and Net Operating Income for the preceding
calendar year and shall be accompanied by Maker's reconciliation of any
difference between the actual aggregate amount of the Net Operating
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Income for such calendar year and the aggregate amount of Net Operating Income
for such calendar year actually remitted to Holder. All such statements shall be
certified by an executive officer of Maker or Maker's manager, managing member
or general partner (as applicable) as having been prepared in accordance with
the terms hereof and to be true, accurate and complete in all material respects.
If any such annual financial statement discloses any inconsistency between the
calculation of Net Operating Income and the amount of Net Operating Income
actually remitted to Holder, Maker shall immediately remit to Holder the amount
of any underpayment of Net Operating Income for such calendar year or, in the
event of an overpayment by Maker, such amount may be withheld from any
subsequent payment of Net Operating Income required hereunder.

                  (c) Holder may notify Maker within ninety (90) days after
receipt of any statement or report required hereunder that Holder disputes any
computation or item contained in any portion of such statement or report. If
Holder so notifies Maker, Holder and Maker shall meet in good faith within
twenty (20) days after Holder's notice to Maker to resolve such disputed items.
If, despite such good faith efforts, the parties are unable to resolve the
dispute at such meeting or within ten (10) days thereafter, the items shall be
resolved by an independent certified public accountant with at least fifteen
(15) years of hotel accounting experience designated by Holder within fifteen
(15) days after such ten (10) day period. The determination of such accountant
shall be final. All fees of such accountant shall be paid by Maker. Maker shall
remit to Holder any additional amount of Net Operating Income found to be due
for such periods within ten (10) days after the resolution of such dispute by
the parties or the accountant's determination, as applicable. The amount of any
overpayment found to have been made for such periods may be withheld from any
required future remittance of Net Operating Income.

                  (d) Maker shall at all times keep and maintain full and
accurate books of account and records adequate to reflect correctly all items
required in order to calculate Net Operating Income.

            5. Loan Prepayment and Defeasance.

                  (a) Except for (i) the application of the Additional Principal
Payment (as defined in that certain Consolidated and Renewed Promissory Note
(the "Key Biscayne Note") of even date herewith in the principal amount of
$31,000,000.00 executed by Sonesta Beach Resort Limited Partnership, a Delaware
limited partnership (the "Key Biscayne Borrower") for the benefit of Holder) to
the principal balance of this Note in connection with the Defeasance of the Key
Biscayne Note, and (ii) the application of insurance proceeds or condemnation
awards to the principal balance of this Note, as provided in the Mortgage, Maker
shall have no right to prepay all or any portion of the Loan evidenced by this
Note during the period commencing on the date hereof through, but not including,
the date of the regularly scheduled payment due under this Note that is six (6)
months prior to the Original Maturity Date (the "Optional Prepayment Date").
From and after the Optional Prepayment Date, and at any time during the
Extension Term, Maker may prepay the Loan in whole, but not in part, together
with accrued interest to the date of such prepayment, without prepayment premium
thereon, and
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without any obligation to satisfy the Defeasance Requirements (hereinafter
defined). Any such prepayment shall be subject to the requirement that Maker
gives not less than thirty (30) days' prior written notice to Holder of Maker's
election to prepay this Note, and subject to the caveat that Maker may not
prepay the Loan on a Friday or on any day preceding a public holiday, or the
equivalent for banks generally under the laws of the Commonwealth of
Massachusetts. Except for the application of the Additional Principal Payment
(as defined in the Key Biscayne Note) to the principal balance of this Note and
the application of insurance proceeds or condemnation awards to the principal
balance of this Note, as provided above, and except for making payments of Net
Operating Income as required above, in no event shall Maker be permitted to make
any partial prepayments of this Note.

                  (b) No prepayment premium shall be due in connection with the
application of insurance proceeds or condemnation awards to the principal
balance of this Note as provided in the Mortgage. If Holder applies any
insurance proceeds to the principal balance of this Note as provided in the
Mortgage, then Maker shall have the right to prepay the remaining principal
amount of this Note and all accrued but unpaid interest thereon as of the date
of prepayment, without prepayment premium thereon.

                  (c) At any time during the term of the Loan, Maker shall have
the right to satisfy the "Defeasance Requirements" set forth below (a
"Defeasance"), provided that (i) Maker gives not less than thirty (30) days'
prior written notice to Holder of Maker's election to complete a Defeasance (a
"Defeasance Notice"), and (ii) Maker thereafter timely fulfills the Defeasance
Requirements. The Defeasance Requirements shall be as follows:

                        (i) The date for fulfillment of the Defeasance
      Requirements ("Defeasance Date") shall be identified by Maker in the
      Defeasance Notice.

                        (ii) All interest, fees and charges then due under all
      of the Loan Documents shall be paid in full as of the Defeasance Date and
      there shall exist no Default or Event of Default under this Note or under
      any of the other Loan Documents.

                        (iii) Maker shall remit to Holder, or Holder's designee,
      an amount of funds designated by Holder (the "Defeasance Deposit") as
      sufficient for Holder to purchase United States government obligations on
      behalf of Maker which are not callable or subject to prepayment, of such
      maturities and interest payment dates and bearing such interest as will,
      without further investment or reinvestment of either the principal amount
      thereof or the investment income thereon, be sufficient to pay as and when
      due the principal of and interest on this Note on each regularly scheduled
      payment date hereunder and on the Original Maturity Date (the "Defeasance
      Collateral").

                        (iv) On or prior to the Defeasance Date, Maker shall
      deliver, or cause to be delivered, to Holder:

                        A. written confirmation from an independent certified
                  public accountant acceptable to Holder that the Defeasance
                  Collateral is sufficient

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                  to timely make the required payments of principal and interest
                  due under this Note as and when they become due, as described
                  above;

                        B. a security agreement executed by Maker, in form and
                  substance satisfactory to Holder, creating in Holder a first
                  priority lien on the Defeasance Deposit and the Defeasance
                  Collateral (the "Defeasance Security Agreement"), together
                  with such other documents, notices and/or UCC Financing
                  Statements requested by Holder and necessary or desirable in
                  Holder's determination to create and perfect Holder's security
                  interest in the Defeasance Deposit and Defeasance Collateral;

                        C. an opinion of counsel to Maker, in form and substance
                  and delivered by counsel satisfactory to Holder in its sole
                  discretion, stating, among other things, that (1) Holder has a
                  perfected first priority security interest in the Defeasance
                  Deposit and the Defeasance Collateral, (2) the Defeasance
                  Security Agreement is enforceable against Maker in accordance
                  with its terms, (3) the Defeasance will not cause any REMIC
                  Trust formed pursuant to Section 860D of the Internal Revenue
                  Code of 1986, as amended from time to time, or any successor
                  statute (the "Code"), that holds this Note (if any) to
                  maintain its status as a "real estate mortgage investment
                  conduit" within the meaning of Section 860D of the Code as a
                  result of the Defeasance, and (4) if applicable, after the
                  Defeasance, the Loan will continue to be a "qualified
                  mortgage" within the meaning of Section 860G of the Code;

                        D. a certificate, executed by an authorized officer of
                  Maker, certifying that all Defeasance Requirements set forth
                  in this Note have been satisfied; and

                        E. such other certificates, documents or instruments as
                  Holder may reasonably request.

                        (v) Maker shall pay, or cause the Key Biscayne Borrower
      to pay, to Holder for application to the amounts due under the Key
      Biscayne Note, an amount equal to fifteen percent (15%) of the outstanding
      principal balance of this Note existing immediately prior to the
      Defeasance (referred to herein as the "Additional Principal Payment").

                        (vi) Maker shall pay all costs and expenses of Holder
      incurred in connection with the Defeasance, including, without limitation,
      any costs and expenses associated with a release of the lien of the
      Mortgage as provided below, the assumption of this Note by any Successor
      Maker, if applicable, as well as attorneys' and accountants' fees, service
      fees and expenses.
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                        (vii) In connection with the Defeasance, Maker hereby
      appoints Holder as its agent and attorney-in-fact for the purpose of using
      the Defeasance Deposit to purchase the Defeasance Collateral.

                        (viii) Maker, pursuant to the Defeasance Security
      Agreement or other appropriate document, shall authorize and direct that
      the payments received from the Defeasance Collateral may be made directly
      to Holder or to an account maintained by, or for the benefit of, Holder
      (unless otherwise directed by Holder) and applied to satisfy the
      obligations of Maker or Successor Maker, if applicable, under this Note.

                        (ix) Maker shall submit to Holder, concurrently with
      Maker's delivery of the Defeasance Notice, a release of lien or
      reconveyance of the Mortgage and related Loan Documents (including any
      guaranty) for execution by Holder. Such release or reconveyance shall be
      in form appropriate in the jurisdiction in which the Property is located
      and satisfactory to Holder, in its reasonable discretion. Maker shall pay
      all recording costs, fees and expenses associated with recording such
      release or reconveyance and shall provide all other documentation Holder
      reasonably requests in connection with such release or reconveyance,
      together with a certificate certifying that such documentation (A) is in
      compliance with all applicable laws, and (B) will effect such release or
      reconveyance in accordance with the terms of this Note.

                        (x) Upon satisfaction of all of the Defeasance
      Requirements, the Property shall be released from the lien of the
      Mortgage, and the Defeasance Collateral shall be the sole source of
      collateral securing this Note. Holder shall remit to Maker any portion of
      the Defeasance Deposit in excess of the amount necessary to purchase the
      Defeasance Collateral and to satisfy Maker's obligations under this
      Section.

                        (xi) In connection with the release of the lien of the
      Mortgage, Holder, at Maker's expense, may form or, at Holder's request,
      Maker shall form, a special-purpose, bankruptcy-remote entity whose only
      assets shall be the Defeasance Collateral (the "Successor Maker"), to be
      the successor obligor under this Note and the Defeasance Security
      Agreement. At Holder's request, Maker shall assign, and Successor Maker
      shall assume, all of Maker's rights and obligations under this Note and
      the Defeasance Security Agreement. In connection therewith, Successor
      Maker shall execute an assumption agreement in form and substance
      satisfactory to Holder, in Holder's sole discretion, pursuant to which
      Successor Maker shall assume Maker's obligations under this Note and the
      Defeasance Security Agreement, and Maker and any guarantors shall be
      released from their obligations with respect to such assumed documents.
      Maker shall pay $1,000.00 to Successor Maker as consideration for assuming
      the obligations under this Note and the Defeasance Security Agreement. In
      connection with such assignment and assumption, Maker shall:

                        A. Deliver to Holder an opinion of counsel, in form and
                  substance and delivered by counsel satisfactory to Holder in
                  its sole discretion stating, among other things, that (x) such
                  assumption agreement
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                  is enforceable against Maker and Successor Maker in accordance
                  with its terms, (y) this Note, the Defeasance Security
                  Agreement and any other documents executed in connection with
                  the Defeasance are enforceable against Successor Maker in
                  accordance with their respective terms, and (z) the transfer
                  of the Defeasance Collateral to Successor Maker does not
                  constitute a fraudulent conveyance or a preference under
                  applicable bankruptcy and state law; and

                        B. Pay all reasonable costs and expenses incurred by
                  Holder or its agents in connection with such assignment and
                  assumption, including, without limitation, all reasonable fees
                  and disbursements of legal counsel.

                  (d) If, prior to the Optional Prepayment Date, Holder
accelerates this Note due to the occurrence of an Event of Default, then in
addition to Maker's obligation to pay the then outstanding principal balance of
this Note and all accrued but unpaid interest thereon, Maker shall pay to Holder
an additional amount (a "Prepayment Premium") equal to the greater of (i) one
percent (1%) of the outstanding principal amount of this Note, or (ii) the
Present Value of this Note (hereinafter defined), less the amount of principal
being prepaid, calculated as of the prepayment date. In addition, Maker shall be
obligated to pay to Holder a prepayment premium on the Additional Principal
Payment (as defined in the Key Biscayne Note) being applied to the principal
balance of this Note in connection with the Defeasance of the Key Biscayne Note,
in an amount equal to the percentage of the principal balance being prepaid in
connection therewith, multiplied by the Prepayment Premium that would be due if
this Note were accelerated on such date.

                  (e) For the purposes of the foregoing:

                        (i) The "Present Value of this Note" with respect to any
      prepayment of this Note, as of any date, shall be determined by
      discounting all scheduled payments of principal and interest remaining to
      maturity of this Note, attributed to the amount being prepaid, at the
      Discount Rate. If prepayment occurs on a date other than a regularly
      scheduled payment date, the actual number of days remaining from the
      prepayment date to the next regularly scheduled payment date will be used
      to discount within such period;

                        (ii) The "Discount Rate" is the rate which, when
      compounded monthly, is equivalent to the Treasury Rate, when compounded
      semi-annually;

                        (iii) The "Treasury Rate" is the semi-annual yield on
      the Treasury Constant Maturity Series with maturity equal to the remaining
      weighted average life of this Note (excluding the Extension Term), for the
      week prior to the prepayment date, as reported in Federal Reserve
      Statistical Release H.15 - Selected Interest Rates, conclusively
      determined by Holder on the prepayment date. The rate will be determined
      by linear interpolation between the yields reported in Release H.15, if
      necessary. In the event Release H.15 is no longer published, Holder shall
      select a comparable publication to determine the Treasury Rate.
<PAGE>

            6. Payments. Whenever any payment to be made under this Note shall
be stated to be due on a Saturday, Sunday or public holiday or the equivalent
for banks generally under the laws of the Commonwealth of Massachusetts (any
other day being a "Business Day"), such payment may be made on the next
succeeding Business Day.

            7. Default Rate.

                  (a) The entire balance of principal, interest, and other sums
due upon the maturity hereof, by acceleration or otherwise, shall bear interest
from the date due until paid at the greater of (i) eighteen percent (18%) per
annum and (ii) a per annum rate equal to five percent (5%) over the prime rate
(for corporate loans at large United States money center commercial banks)
published in The Wall Street Journal on the first business day of each month
(the "Default Rate"); provided, however, that such rate shall not exceed the
maximum permitted by applicable state or federal law. In the event The Wall
Street Journal is no longer published or no longer publishes such prime rate,
Holder shall select a comparable reference.

                  (b) If any payment under this Note is not made within five (5)
days following its due date, then interest shall accrue at the Default Rate from
the date such payment was due until payment is actually made.

            8. Late Charges. In addition to interest as set forth herein, Maker
shall pay to Holder a late charge equal to four percent (4%) of any amounts due
under this Note in the event any such amount is not paid within five (5) days
following its due date.

            9. Application of Payments. All payments hereunder shall be applied
first to the payment of late charges, if any, then to the payment of prepayment
premiums, if any, then to the repayment of any sums advanced by Holder for the
payment of any insurance premiums, taxes, assessments, or other charges against
the property securing this Note (together with interest thereon at the Default
Rate from the date of advance until repaid), then to the payment of accrued and
unpaid interest, and then to the reduction of principal.

            10. Immediately Available Funds. Payments under this Note shall be
payable in immediately available funds without setoff, counterclaim or deduction
of any kind.

            11. Security. This Note is (a) secured by, among other things, a
Mortgage, Security Agreement, Fixture Filing, Financing Statement and Assignment
of Leases and Rents dated as of December 18, 1996, executed by Maker for the
benefit of the named Holder hereof, as amended by a Mortgage and Loan
Modification Agreement of even date herewith executed by Maker and Holder (as
amended, the "Mortgage") encumbering Maker's fee interest and leasehold interest
in and to certain real property and improvements thereon commonly known as the
Royal Sonesta Hotel, City of Cambridge, Middlesex County, Massachusetts, as more
particularly described in such Mortgage (the "Property") and the other Loan
Documents (as defined in the Mortgage), and (b) guaranteed by Key Biscayne
Borrower pursuant to a Non-Recourse Guaranty Agreement of even date herewith
executed by Key Biscayne Borrower for the benefit of Holder (the "Non-Recourse
Guaranty Agreement"), which Non-Recourse Guaranty Agreement is secured by a
second Mortgage, Security Agreement, Fixture Filing,
<PAGE>

Financing Statement and Assignment of Leases and Rents of even date herewith
executed by the Key Biscayne Borrower, for the benefit of the named Holder
hereof (the "Key Biscayne Second Mortgage") encumbering certain real property
and improvements thereon commonly known as the Sonesta Beach Resort, Key
Biscayne, Florida.

            12. Certain Definitions. Capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Mortgage.

            13. Event of Default. Each of the following events will constitute
an event of default (an "Event of Default") under this Note, the Loan Documents,
the Key Biscayne Loan Documents (as defined in the Mortgage) and the Key
Biscayne Second Mortgage, and any Event of Default under any Loan Document, Key
Biscayne Loan Document or the Key Biscayne Second Mortgage shall constitute an
Event of Default hereunder and under each of the other Loan Documents, the Key
Biscayne Loan Documents and the Key Biscayne Second Mortgage:

                  (a) any failure to pay any sum due hereunder within five (5)
days after its due date or failure to perform any covenant or agreement herein
contained within thirty (30) days following written notice of default thereof;
or

                  (b) if, at any time during the Extension Term, Gross Revenue
for any twelve (12) month period shall be less than ninety-three percent (93%)
of the amount of projected Gross Revenue for such month set forth in the
applicable Budget.

            14. Acceleration. Upon the occurrence of any Event of Default, the
entire balance of principal, accrued interest, and other sums owing hereunder
shall, at the option of Holder, become at once due and payable without notice or
demand. Upon the occurrence of an Event of Default described in Section 13(b)
hereof, Holder shall have the option, in its sole discretion, to either (a)
exercise any remedies available to it under the Loan Documents, the Key Biscayne
Loan Documents or the Key Biscayne Second Mortgage, at law or in equity, or (b)
require Maker to submit a new proposed budget for Holder's approval. If Holder
agrees to accept such new proposed budget, then such budget shall become the
Budget for all purposes hereunder.

            15. Conditions Precedent. Maker hereby certifies and declares that
all acts, conditions and things required to be done and performed and to have
happened precedent to the creation and issuance of this Note by Maker, and to
constitute this Note the legal, valid and binding obligation of Maker,
enforceable in accordance with the terms hereof, have been done and performed
and happened in due and strict compliance with all applicable laws.

            16. Certain Waivers and Consents. Maker and all parties now or
hereafter liable for the payment hereof, primarily or secondarily, directly or
indirectly, and whether as endorser, guarantor, surety, or otherwise, hereby
severally (a) waive presentment, demand, protest, notice of protest and/or
dishonor, and all other demands or notices of any sort whatever with respect to
this Note, (b) consent to impairment or release of collateral, extensions of
time for payment, and acceptance of partial payments before, at, or after
maturity, (c) waive any right to require Holder to proceed against any security
for this Note before proceeding hereunder,
<PAGE>

(d) waive diligence in the collection of this Note or in filing suit on this
Note, and (e) agree to pay all reasonable costs and expenses, including
reasonable attorneys' fees, which may be incurred in the collection of this Note
or any part thereof or in preserving, securing possession of, and realizing upon
any security for this Note.

            17. Usury Savings Clause. The provisions of this Note and of all
agreements between Maker and Holder are, whether now existing or hereinafter
made, hereby expressly limited so that in no contingency or event whatever,
whether by reason of acceleration of the maturity hereof, prepayment, demand for
payment or otherwise, shall the amount paid, or agreed to be paid, to Holder for
the use, forbearance, or detention of the principal hereof or interest hereon,
which remains unpaid from time to time, exceed the maximum amount permissible
under applicable law, it particularly being the intention of the parties hereto
to conform strictly to Massachusetts and Federal law, whichever is applicable.
If from any circumstance whatever, the performance or fulfillment of any
provision hereof or of any other agreement between Maker and Holder shall, at
the time performance or fulfillment of such provision is due, involve or purport
to require any payment in excess of the limits prescribed by law, then the
obligation to be performed or fulfilled is hereby reduced to the limit of such
validity, and if from any circumstance whatever Holder should ever receive as
interest an amount which would exceed the highest lawful rate, the amount which
would be excessive interest shall be applied to the reduction of the principal
balance owing hereunder (or, at Holder's option, be paid over to Maker) and
shall not be counted as interest. To the extent permitted by applicable law,
determination of the legal maximum amount of interest shall at all times be made
by amortizing, prorating, allocating and spreading in equal parts during the
period of the full stated term of this Note, all interest at any time contracted
for, charged, or received from Maker in connection with this Note and all other
agreements between Maker and Holder, so that the actual rate of interest on
account of the indebtedness represented by this Note is uniform throughout the
term hereof.

            18. Non-Recourse; Exceptions to Non-Recourse. Except as expressly
hereinafter set forth, the recourse of Holder with respect to the obligations
evidenced by this Note shall be solely to the Property, Chattels, and Intangible
Personalty (as such terms are defined in the Mortgage and the Key Biscayne
Second Mortgage), and all other collateral pledged by Maker to secure this Note.
Notwithstanding anything to the contrary contained in this Note or in any Loan
Document, Key Biscayne Loan Document or the Key Biscayne Second Mortgage,
nothing shall be deemed in any way to impair, limit or prejudice the rights of
Holder (a) in foreclosure proceedings or in any ancillary proceedings brought to
facilitate Holder's foreclosure on the Property or any portion thereof; (b) to
recover from Maker damages or costs (including without limitation reasonable
attorneys' fees) incurred by Holder as a result of waste by Maker; (c) to
recover from Maker any condemnation or insurance proceeds attributable to the
Property which were not paid to Holder or used to restore the Property in
accordance with the terms of the Mortgage; (d) to recover from Maker any rents,
profits, security deposits, advances, rebates, prepaid rents or other similar
sums attributable to the Property collected by or for Maker following an Event
of Default under any Loan Document and not properly applied to the reasonable
fixed and operating expenses of the Property, including payments of this Note,
or held pursuant to Leases or other applicable agreements; (e) to pursue the
personal liability of Maker under the provisions of Section 5.10 of the
Mortgage, including any indemnification provisions
<PAGE>

under such Section; (f) to exercise any specific rights or remedies afforded
Holder under any other provisions of the Loan Documents or by law or in equity
(or to recover under any guarantee agreement given in connection with this
Note); (g) to recover from Maker and to properly apply and disburse the amount
of any accrued taxes, assessments, and/or utility charges affecting the Property
(whether or not the same have been billed to Maker) that are either unpaid by
Maker or paid by Holder under the Mortgage and to collect from Maker any sums
expended by Holder in fulfilling the obligations of Maker under any leases,
permits, licenses (including liquor licenses), management, franchise or license
agreements or any other agreements affecting or relating to the Property or the
operation of the Property as a full-service hotel; (h) to pursue any personal
liability of Maker and/or Guarantor under the Environmental Indemnity Agreement;
and (i) to recover from Maker the amount of any loss suffered by Holder (that
would otherwise be covered by insurance) as a result of Maker's failure to
maintain any insurance required under the terms of any Loan Document. The
agreement contained in this paragraph to limit the personal liability of Maker
shall become null and void and be of no further force and effect in the event
(i) that the Property or any part thereof or any interest therein, or any
interest in Maker, shall be further encumbered by a voluntary lien securing any
obligation upon which Maker or any general partner, principal or affiliate of
Maker shall be personally liable for repayment, whether as obligor or guarantor
which has not been approved in advance by Holder; (ii) of any breach or
violation of Section 5.4, 5.5 or 5.7 of the Mortgage; (iii) of any fraud or
material misrepresentation by Maker in connection with the Property, the Loan
Documents or the application made by Maker for the Loan; or (iv) of any
execution, amendment, modification or termination without the prior written
consent of Holder if such consent is required under the terms of Section 5.3 of
the Mortgage, of any Primary Lease or Secondary Lease. For purposes of the
foregoing, "affiliate" shall mean any individual, corporation, trust,
partnership or any other person or entity controlled by, controlling or under
common control with Maker. A person or entity of any nature shall be presumed to
have control when it possesses the power, directly or indirectly, to direct, or
cause the direction of, the management or policies of another person or entity,
whether through ownership of voting securities, by contract, or otherwise.

            19. Severability. If any provision hereof or of any other document
securing or related to the indebtedness evidenced hereby is, for any reason and
to any extent, invalid or unenforceable, then neither the remainder of the
document in which such provision is contained, nor the application of the
provision to other persons, entities, or circumstances, nor any other document
referred to herein, shall be affected thereby, but instead shall be enforceable
to the maximum extent permitted by law.

            20. Transfer of Note. Each provision of this Note shall be and
remain in full force and effect notwithstanding any negotiation or transfer
hereof and any interest herein to any other Holder or participant.

            21. Governing Law. Regardless of the place of its execution, this
Note shall be construed and enforced in accordance with the laws of the
Commonwealth of Massachusetts.

            22. Time of Essence. Time is of the essence of this Note.
<PAGE>

            23. Remedies Cumulative. The remedies provided to Holder in this
Note, the Mortgage, the Loan Documents, the Key Biscayne Loan Documents and the
Key Biscayne Second Mortgage are cumulative and concurrent and may be exercised
singly, successively or together against Maker, the Property, and other
security, or any guarantor of this Note, at the sole and absolute discretion of
the Holder.

            24. No Waiver. Holder shall not by any act or omission be deemed to
waive any of its rights or remedies hereunder unless such waiver is in writing
and signed by the Holder and then only to the extent specifically set forth
therein. A waiver of one event shall not be construed as continuing or as a bar
to or waiver of any right or remedy granted to Holder hereunder in connection
with a subsequent event.

            25. Joint and Several Obligation. If Maker is more than one person
or entity, then (a) all persons or entities comprising Maker are jointly and
severally liable for all of the Maker's obligations hereunder; (b) all
representations, warranties, and covenants made by Maker shall be deemed
representations, warranties, and covenants of each of the persons or entities
comprising Maker; (c) any breach, Default or Event of Default by any of the
persons or entities comprising Maker hereunder shall be deemed to be a breach,
Default, or Event of Default of Maker; and (d) any reference herein contained to
the knowledge or awareness of Maker shall mean the knowledge or awareness of any
of the persons or entities comprising Maker.

            26. WAIVER OF JURY TRIAL. MAKER AND HOLDER KNOWINGLY, IRREVOCABLY,
VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT EITHER MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED ON THIS NOTE, OR
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE, THE MORTGAGE, OR ANY
OTHER LOAN DOCUMENTS OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO OR TO ANY LOAN
DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT FOR MAKER AND HOLDER TO ENTER
INTO THE LOAN TRANSACTION EVIDENCED BY THIS NOTE.

            27. WAIVER OF PREPAYMENT RIGHT WITHOUT PREMIUM. MAKER HEREBY
EXPRESSLY WAIVES ANY RIGHT IT MAY HAVE UNDER APPLICABLE LAW TO PREPAY THIS NOTE,
IN WHOLE OR IN PART, WITHOUT PREPAYMENT PREMIUM (EXCEPT AS OTHERWISE PROVIDED
HEREIN), UPON ACCELERATION OF THE MATURITY DATE OF THIS NOTE, AND AGREES THAT,
IF FOR ANY REASON A PREPAYMENT OF ALL OR ANY PART OF THIS NOTE IS MADE, WHETHER
VOLUNTARILY OR FOLLOWING ANY ACCELERATION OF THE MATURITY DATE OF THIS NOTE BY
HOLDER ON ACCOUNT OF THE OCCURRENCE OF ANY EVENT OF DEFAULT ARISING FOR ANY
REASON, INCLUDING, WITHOUT LIMITATION, AS A RESULT OF ANY PROHIBITED OR
RESTRICTED TRANSFER, FURTHER ENCUMBRANCE OR DISPOSITION OF THE PROPERTY OR ANY
PART THEREOF SECURING THIS NOTE, THEN MAKER SHALL BE OBLIGATED TO PAY,
CONCURRENTLY WITH SUCH PREPAYMENT, THE PREPAYMENT PREMIUM
<PAGE>

PROVIDED FOR IN THIS NOTE OR, IN THE EVENT OF PREPAYMENT FOLLOWING ACCELERATION
OF THE MATURITY DATE HEREOF WHEN THIS NOTE IS CLOSED TO PREPAYMENT, AS PROVIDED
IN THE MORTGAGE. MAKER HEREBY DECLARES THAT HOLDER'S AGREEMENT TO MAKE THE LOAN
AT THE INTEREST RATE AND FOR THE TERM SET FORTH IN THIS NOTE CONSTITUTES
ADEQUATE

CONSIDERATION, GIVEN INDIVIDUAL WEIGHT BY MAKER, FOR THIS WAIVER AND AGREEMENT.

                   [Balance of page intentionally left blank]
<PAGE>

            IN WITNESS WHEREOF and intending to be legally bound, Maker has duly
executed this Note as of the date first above written.

                              /s/
                              ------------------------------------------
                              Peter J. Sonnabend, Trustee of the Charterhouse of
                              Cambridge Trust, and not individually

                              /s/
                              ------------------------------------------
                              Boy A.J. van Riel, Trustee of the Charterhouse of
                              Cambridge Trust, and not individually

                              SONESTA OF MASSACHUSETTS, INC., a
                              Massachusetts corporation

                              By: /s/
                                  --------------------------------------
                                  Peter J. Sonnabend, Vice President<PAGE>

                                                                Exhibit 10.1(b)

COMMONWEALTH OF MASSACHUSETTS
COUNTY OF MIDDLESEX

Recording requested by:
And when recorded mail to:
Otten, Johnson, Robinson,
  Neff & Ragonetti, P.C.
950 Seventeenth Street
Suite 1600
Denver, Colorado 80202
Attention:  Mark F. Copertino, Esq.

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

                    MORTGAGE AND LOAN MODIFICATION AGREEMENT

            This MORTGAGE AND LOAN MODIFICATION AGREEMENT (this "Agreement"),
dated as of May 30, 2000, is made by and between ROGER P. SONNABEND, PETER J.
SONNABEND and BOY A.J. VAN RIEL, trustees of the Charterhouse of Cambridge
Trust, and not individually, under a Declaration of Trust dated December 27,
1963 and recorded at Middlesex South Deeds Book 11160, Page 340, as amended by
Amendment of Declaration of Trust dated July 8, 1966 and recorded at Middlesex
South Deeds Book 11160, Page 359 ("Charterhouse"), and SONESTA OF MASSACHUSETTS,
INC., a Massachusetts corporation ("Sonesta," and, together with Charterhouse,
collectively, "Borrower"), and SUNAMERICA LIFE INSURANCE COMPANY, an Arizona
corporation ("Lender").

                                    RECITALS

            A. On or about January 6, 1997, Lender made a $22,880,000.00 loan
(the "Original Loan") to Borrower.

            B. The Original Loan is evidenced by a Promissory Note dated as of
December 18, 1996, in the original principal amount of the Original Loan
executed by Borrower for the benefit of Lender (the "Original Note"), and is
secured by, among other things, a Mortgage, Security Agreement, Fixture Filing,
Financing Statement, and Assignment of Leases and Rents (the "Original
Mortgage") dated as of December 18, 1996 executed by Borrower for the benefit of
Lender and encumbering Borrower's fee interest and leasehold interest in and to
certain "Property" commonly known as the Royal Sonesta Hotel, City of Cambridge,
Middlesex County, Massachusetts, and more particularly described in the Original
Mortgage and in Exhibit A attached hereto (the "Property"). The Original
Mortgage was recorded on January 13, 1997, with the Middlesex South District
Registry of Deeds at Book 26983, Page 640, and on January 13, 1997, with the
Middlesex South District of the Land Court as Document Number 1022100.
<PAGE>

            C. The Original Note, the Original Mortgage, and each other document
executed by Borrower and/or Sonesta International Hotels Corporation, a New York
corporation ("Guarantor"), and evidencing or securing the Original Loan, are
referred to herein, collectively, as the "Original Loan Documents."

            D. On or about June 1, 2000, Lender is making an additional advance
to Borrower in the amount of $19,865,733.66 (the "Additional Advance"), such
that the aggregate indebtedness owing by Borrower to Lender under the Original
Loan and the Additional Advance will be, as of the date of the Additional
Advance, $41,000,000.00.

            E. Pursuant to an Amended and Restated Promissory Note (the "Amended
and Restated Note"; the loan evidenced by the Amended and Restated Note being
referred to herein as the "Loan") dated as of the date hereof in the original
principal amount of $41,000,000.00, Borrower and Lender are consolidating,
amending and restating the Original Loan and the Additional Advance.

            F. On or about June 1, 2000, Lender is also making a loan in the
original principal amount of $31,000,000.00 (the "Key Biscayne Loan") to an
affiliate of Borrower, Sonesta Beach Resort Limited Partnership, a Delaware
limited partnership (the "Key Biscayne Borrower").

            G. The Key Biscayne Loan is evidenced by a Consolidated and Renewed
Promissory Note dated as of the date hereof made by Key Biscayne Borrower to
Lender (the "Key Biscayne Note"), and is secured by, among other things, a
Consolidated, Amended and Restated Mortgage, Security Agreement, Fixture Filing,
Financing Statement and Assignment of Leases and Rents granted by Key Biscayne
Borrower to Lender of even date therewith (the "Key Biscayne Mortgage")
encumbering certain real property commonly known as the Sonesta Beach Resort,
Key Biscayne, Florida, and more particularly described in the Key Biscayne
Mortgage.

            H. The Key Biscayne Note, the Key Biscayne Mortgage, and all other
documents executed by Key Biscayne Borrower and/or Guarantor, in connection with
the Key Biscayne Loan are referred to herein, collectively, as the "Key Biscayne
Loan Documents."

            I. In connection with the Additional Advance, Borrower and Lender
hereby desire to amend certain terms of the Original Mortgage and the other
Original Loan Documents to (i) secure the Amended and Restated Note, (ii) secure
the repayment of the Key Biscayne Loan and the Key Biscayne Borrower's
obligations under the Key Biscayne Loan Documents, (iii) cross default the Loan
and the Key Biscayne Loan, and (iv) reflect certain other agreements as
hereinafter provided.

            J. The Original Mortgage, as modified hereby, is referred to herein
as the "Mortgage"; the Original Loan Documents, as modified hereby, together
will the Amended and Restated Note and all other documents evidencing or
executed in connection with the Additional Advance are referred to herein as the
"Loan Documents."
<PAGE>

                                    AGREEMENT

            NOW, THEREFORE, in consideration of the premises and mutual
covenants contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Borrower and Lender as
follows:

            1. Modification of Original Mortgage.

                  (a) Section 1.4 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "1.4 Environmental Indemnity Agreement: The Environmental Indemnity
Agreement dated as of December 18, 1996, made by Mortgagor and Guarantor for the
benefit of Mortgagee, as modified pursuant to the Modification Agreement."

                  (b) Section 1.10 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "1.10 Guaranty Agreement: The Limited Guaranty Agreement dated as of
December 18, 1996, made by the Guarantor for the benefit of Mortgagee, as
reaffirmed and modified pursuant to a Reaffirmation and Modification of Guaranty
Agreement and Environmental Indemnity Agreement dated as of May 30, 2000,
executed by the Guarantor for the benefit of Mortgagee."

                  (c) Section 1.11 of the Original Mortgage, the definition of
"Intangible Personalty," is hereby modified to include any and all fees,
charges, accounts, or other payments for the use or occupancy of rooms and other
public facilities located at the Property.

                  (d) Section 1.15 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "1.15 Loan Documents: The Note, all of the deeds of trusts,
mortgages and other instruments and documents securing the Note, including this
Mortgage, the Environmental Indemnity Agreement, the Guaranty Agreement, the
Deficiency Guaranty Agreement, the Lease Certificate, the Financial Certificate,
the Liquor License Assignment, the Escrow Agreement, the Replacement Reserve and
Security Agreement, and each other document executed or delivered by Mortgagor
or Guarantor in connection with the transaction pursuant to which the Note has
been executed and delivered. The term "Loan Documents" also includes all
modifications, extensions, renewals, and replacements of each document referred
to above."

                  (e) Section 1.18 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "1.18 Note: Mortgagor's amended and restated promissory note dated
as of May 30, 2000, payable to the order of Mortgagee in the principal face
amount of $41,000,000.00, the last payment under which is due on July 1, 2010,
or, if extended by Mortgagee by its terms, July 1, 2015, unless such due date is
accelerated, together with all
<PAGE>

renewals, extensions and modifications of such amended and restated promissory
note. All terms and provisions of the Note are incorporated by this reference in
this Mortgage."

                  (f) Section 1.23 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "1.23 Replacement Reserve and Security Agreement: The Replacement
Reserve and Security Agreement dated as of December 18, 1996, made by Mortgagor
for the benefit of Mortgagee, as modified by the Modification Agreement."

                  (g) Section 1.25 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "1.25 Secured Obligations: All present and future obligations of (a)
Mortgagor and/or Guarantor to Mortgagee evidenced by or contained in the Note
and the other Loan Documents, and (b) the Key Biscayne Borrower and/or Guarantor
to Mortgagee evidenced by or contained in the Key Biscayne Note and the Key
Biscayne Loan Documents, whether stated in the form of promises, covenants,
representations, warranties, conditions, or prohibitions or in any other form.
If the maturity of the Note and/or the Key Biscayne Note secured by this
Mortgage is accelerated, the Secured Obligations shall also include an amount
equal to the prepayment premium payable under the terms of the Note and Key
Biscayne Note in connection with any such acceleration."

                  (h) The following definitions are hereby added to the end of
Article I of the Original Mortgage:

            "1.26 Deficiency Guaranty Agreement: The Deficiency Guaranty
Agreement dated as of May 30, 2000, executed by the Guarantor for the benefit of
Mortgagee."

            "1.27 Key Biscayne Borrower: Sonesta Beach Resort Limited
Partnership, a Delaware limited partnership."

            "1.28 Key Biscayne Loan Documents: The Key Biscayne Note, all of the
mortgages, deeds of trust, and other instruments and documents executed by the
Key Biscayne Borrower and/or Guarantor securing the Key Biscayne Note, including
any guaranty agreements, environmental indemnity agreements, replacement reserve
agreements, collateral assignment of liquor licenses, lease certificates, and
all other documents executed or delivered by the Key Biscayne Borrower and/or
Guarantor in connection with the transaction pursuant to which the Key Biscayne
Note has been executed and delivered, but excluding the Non-Recourse Guaranty
Agreement and the Key Biscayne Second Mortgage. The term `Key Biscayne Loan
Documents' also includes all modifications, extensions, renewals, and
replacements of each document referred to above."

            "1.29 Key Biscayne Note: The Consolidated and Renewed Promissory
Note dated as of May 30, 2000 executed by the Key Biscayne Borrower and payable
to the order to Mortgagee in the principal face amount of $31,000,000.00, the
last payment under which is due on July 1, 2010, or, if extended by Mortgagee by
its terms, July 1, 2015, unless such due date is accelerated, together with all
renewals, extensions and modifications of such consolidated and
<PAGE>

renewed promissory note. All terms and provisions of the Key Biscayne Note are
incorporated by this reference in this Mortgage."

            "1.30 Key Biscayne Second Mortgage: The Mortgage, Security
Agreement, Fixture Filing, Financing Statement and Assignment of Leases and
Rents dated as of May 30, 2000 executed by Key Biscayne Borrower for the benefit
of Mortgagee and securing Key Biscayne Borrower's obligations under the
Non-Recourse Guaranty Agreement."

            "1.31 Modification Agreement: The Mortgage and Loan Modification
Agreement dated as of May 30, 2000, executed by Mortgagor and Mortgagee."

            "1.32 Non-Recourse Guaranty Agreement: The Non-Recourse Guaranty
Agreement dated as of May 30, 2000 made by Key Biscayne Borrower for the benefit
of Mortgagee, and secured by the Key Biscayne Second Mortgage, pursuant to which
Key Biscayne Borrower has guaranteed payment and performance of the Note and the
other Loan Documents."

                  (i) Subsections 4.5(a) and 4.5(b) of the Original Mortgage are
hereby deleted in their entireties, and the following substituted therefor:

            "(a) Coverages Required. Mortgagor shall maintain or cause to be
maintained, with financially sound and reputable insurance companies or
associations satisfactory to Mortgagee, all insurance required under the terms
of that certain Agreement Concerning Insurance Requirements dated as of May 30,
2000 executed by Mortgagor for the benefit of Mortgagee (the "Insurance
Agreement"), and shall comply with each and every covenant and agreement
contained in such Insurance Agreement."

            "(b) Renewal Policies. Not less than thirty (30) days prior to the
expiration date of each insurance policy required pursuant to the Insurance
Agreement, Mortgagor will deliver to Mortgagee an appropriate renewal policy (or
a certified copy thereof), together with evidence satisfactory to Mortgagee that
the applicable premium has been prepaid."

                  (j) Section 4.13 of the Original Mortgage is hereby modified
to require that the financial statements described in subsections 4.13(a) and
4.13(b) shall be prepared in accordance with the Uniform System of Accounts for
the Lodging Industry, Ninth Revised Edition, First Printing 1996, as adopted by
the American Hotel and Motel Association, as amended or supplemented from time
to time.

                  (k) Section 5.3 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "5.3 Interference with Leases. Mortgagor shall not collect rent from
all or any part of the Property for more than one month in advance, or assign
the rents from the Property or any part thereof. Without the prior written
consent of Mortgagee, which consent shall not be unreasonably withheld,
Mortgagor shall not (a) terminate or make or permit any modification to any
Primary Lease, or (b) terminate (other than at the stated expiration thereof) or
make or permit any modification to the Secondary Lease relating to that portion
of the Property currently operated as the so called 'Davio's' restaurant (the
'Davio's Lease'), or enter
<PAGE>

into, modify or terminate (other than at the stated expiration thereof) any
Secondary Lease approved by Mortgagee as a replacement to, or substitution of,
the Davio's Lease."

                  (l) Section 5.4 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "5.4 Transfer or Further Encumbrance of Property. Subject to the
provisions of Section 5.7 relating to Chattels, without Mortgagee's prior
written consent, which consent may be granted or withheld in Mortgagee's sole
and absolute discretion, Mortgagor shall not (a) sell, assign, convey, transfer
or otherwise dispose of any legal, beneficial or equitable interest in all or
any part of the Property, (b) permit or suffer any owner, directly or
indirectly, of any beneficial interest in the Property or Mortgagor to transfer
such interest, whether by transfer of partnership, membership, stock or other
beneficial interest in any entity or otherwise, or (c) mortgage, hypothecate or
otherwise encumber or permit to be encumbered or grant or permit to be granted a
security interest in all or any part of the Property or Mortgagor or any
beneficial or equitable interest in either the Property or Mortgagor. The
provisions of this Section shall not prohibit transfers of title or interest
under any will or testament or applicable law of descent. Notwithstanding the
foregoing to the contrary, (1) Mortgagee shall permit transfers of the shares of
Guarantor (a "Guarantor Transfer") in connection with the sale of all of the
shares of Guarantor to an individual or entity previously approved in writing by
Mortgagee in its sole discretion, or, in all other cases, provided that the
Sonnabend family, or any of them, shall at all times during which any Secured
Obligation shall remain outstanding, (x) collectively own not less than 51% of
Guarantor, and (y) control Guarantor, and (2) if any Guarantor Transfer is not
permitted under the terms of this Section 5.4, then Mortgagor shall have the
right to complete a Defeasance of the Note by satisfying the Defeasance
Requirements set forth in the Note. For purposes of the foregoing, the Sonnabend
family shall be presumed to control Guarantor if the Sonnabend family, or any of
them, possesses the power, directly or indirectly, to direct, or cause the
direction of, the management or policies of Guarantor, whether through ownership
of voting securities, by contract, or otherwise."

                  (m) Section 6.1 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "6.1 Failure to Pay Note. Mortgagor's failure to make any payment
due under the Note or any other Loan Document within five (5) days following its
due date."

                  (n) The following sections are hereby added to the end of
Article VI of the Original Mortgage:

            "6.17 Default Under Key Biscayne Loan Documents. The occurrence of
any default by Key Biscayne Borrower or Guarantor, after the lapse of any
applicable grace or cure period, or the occurrence of any event or circumstance
defined as an Event of Default, under any of the Key Biscayne Loan Documents."

            "6.18 Default Under Non-Recourse Guaranty Agreement or Key Biscayne
Second Mortgage. The failure by Key Biscayne Borrower to make any payment due
under the Non-Recourse Guaranty Agreement or the occurrence of any default,
after the lapse of any
<PAGE>

applicable grace or cure period, or the occurrence of any event or circumstance
defined as an Event of Default, under the Non-Recourse Guaranty Agreement or the
Key Biscayne Second Mortgage."

                  (o) Section 9.4 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "9.4 Non-Recourse; Exceptions to Non-Recourse. Except as expressly
set forth in the Note, the recourse of Mortgagee with respect to the obligations
evidenced by the Note and the other Loan Documents shall be solely to the
Property, Chattels and Intangible Personalty (as defined in this Mortgage and
the Key Biscayne Second Mortgage), and any other collateral given as security
for the Note."

                  (p) Section 9.11 of the Original Mortgage is hereby deleted in
its entirety, and the following substituted therefor:

            "9.11 Defeasance. Upon payment and performance in full of all of the
Secured Obligations (or upon the satisfaction of all Defeasance Requirements
specified in the Note in connection with the Defeasance of the Note), Mortgagee
will execute and deliver to Mortgagor such documents as may be required to
reconvey this Mortgage of record."

                  (q) The parenthetical "(OR, IN THE EVENT OF ACCELERATION WHEN
THE NOTE IS CLOSED TO PREPAYMENT, AS PROVIDED IN SECTION 1.25 HEREOF)" contained
in Section 9.17 of the Original Mortgage is hereby deleted.

                  (r) Exhibit B, Permitted Exception No. 1, of the Original
Mortgage is hereby deleted in its entirety, and the following substituted
therefor: "Real Property taxes for the second half of 1999, and subsequent years
not yet due or payable."

            2. Modification of Replacement Reserve and Security Agreement. The
Replacement Reserve and Security Agreement dated as of December 18, 1996,
executed by Lender and Borrower (the "Original Replacement Reserve Agreement")
is hereby modified as follows:

                  (a) All references to the term "Note" contained in the
Original Replacement Reserve Agreement shall be deemed to refer to the Amended
and Restated Note; all references to the term "Loan" contained in the Original
Replacement Reserve Agreement shall be deemed to refer to the loan evidenced by
the Amended and Restated Note.

                  (b) All references to the terms "Mortgage" contained in the
Original Replacement Reserve Agreement shall be deemed to refer to the Original
Mortgage, as modified hereby.

                  (c) All references contained in the Original Replacement
Reserve Agreement to the term "Loan Documents" shall be deemed to refer to such
term as defined herein.
<PAGE>

                  (d) The definition of the term "Obligations" set forth in
Section 3 of the Original Replacement Reserve Agreement is hereby amended to
include the Key Biscayne Borrower's obligations under the Key Biscayne Note and
the Key Biscayne Loan Documents.

                  (e) Section 4(a) of the Original Replacement Reserve Agreement
is hereby deleted in its entirety, and the following substituted therefor:

            "(a) On or before August 1, 2000 (the "Commencement Date"), and
continuing on or before the first day of each month thereafter through and
including December 1, 2001, Debtor shall deposit into an account at an
FDIC-insured financial institution chosen by Debtor and acceptable to Secured
Party in its reasonable discretion (the "Replacement Reserve Account"), four
percent (4%) of Gross Revenue (hereinafter defined) for the calendar month
ending on the last day of the month that is two months preceding such date. For
example, assuming the Commencement Date is August 1, then Debtor shall deposit
4% of Gross Revenue for the period from June 1 through June 30 into the
Replacement Reserve Account on or before August 1; Debtor shall deposit 4% of
Gross Revenue for the period from July 1 through July 31 into the Replacement
Reserve Account on or before September 1, and so on. On or before January 1,
2002, and continuing on or before the first day of each month thereafter through
the remaining term of the Loan, Debtor shall deposit into the Replacement
Reserve Account, five percent (5%) of Gross Revenue for the calendar month
ending on the last day of the month that is two months preceding such date. The
sum of all monies on deposit from time to time in the Replacement Reserve
Account, including any interest earned thereon, is referred to hereinafter as
the "Replacement Reserve." Notwithstanding the foregoing, until such time as
Secured Party notifies Debtor that it is electing to enforce the foregoing
provisions of this Section 4(a), which Secured Party may do at any time in its
sole and absolute discretion, the parties shall adhere to the following
procedure: (i) Debtor shall provide Secured Party with a monthly report stating
the amount of total Gross Revenues that Debtor would be required to fund into
the Replacement Reserve Account, and the actual amount(s) that Debtor has spent,
year to date, on Capital Expenses (hereinafter defined) and, provided that the
cumulative amount so spent by Debtor on such Capital Expenses exceeds the amount
that Debtor would have been required to fund to the Replacement Reserve Account
hereunder, Debtor need not fund any amounts into the Replacement Reserve
Account; and (ii) amount(s) spent by Debtor on Capital Expenses in any year in
excess of the amounts that would otherwise be required under this Section to be
deposited by Debtor into the Replacement Reserve Account shall carry forward and
be credited to, and treated as, amounts spent in the subsequent year on Capital
Expenses."

                  (f) Section 4(c) of the Original Replacement Reserve Agreement
is hereby deleted in its entirety.

                  (g) Section 6(c)(i) of the Original Replacement Reserve
Agreement is hereby deleted in its entirety, and the following substituted
therefor: "(i) would cause the total cost of the Budget for the current year to
exceed five percent (5%) of forecasted Gross Revenues for the current year".
<PAGE>

            3. Modification of Environmental Indemnity Agreement. The
Environmental Agreement dated as of December 18, 1996, executed by Borrower and
Guarantor (the "Original Environmental Indemnity Agreement") is hereby modified
as follows:

                  (a) All references to the term "Note" contained in the
Original Environmental Indemnity Agreement shall be deemed to refer to the
Amended and Restated Note; all references to the term "Loan" contained in the
Original Environmental Indemnity Agreement shall be deemed to refer to the loan
evidenced by the Amended and Restated Note.

                  (b) All references to the terms "Mortgage" contained in the
Original Environmental Indemnity Agreement shall be deemed to refer to the
Original Mortgage, as modified hereby.

                  (c) All references contained in the Original Environmental
Indemnity Agreement to the term "Loan Documents" shall be deemed to refer to
such term as defined herein.

            4. Modification of Collateral Assignment of Liquor Licenses. The
Collateral Assignment of Liquor Licenses dated as of December 18, 1996, executed
by Sonesta for the benefit of Lender (the "Original Collateral Assignment") is
hereby modified as follows:

                  (a) All references to the term "Note" contained in the
Original Collateral Assignment shall be deemed to refer to the Amended and
Restated Note; all references to the term "Loan" contained in the Original
Collateral Assignment shall be deemed to refer to the loan evidenced by the
Amended and Restated Note.

                  (b) All references to the terms "Mortgage" contained in the
Original Collateral Assignment shall be deemed to refer to the Original
Mortgage, as modified hereby.

                  (c) All references contained in the Original Collateral
Assignment to the term "Loan Documents" shall be deemed to refer to such term as
defined herein.

                  (d) The definition of the term "Secured Obligations" set forth
in the Original Collateral Assignment is hereby amended to include the Key
Biscayne Borrower's obligations under the Key Biscayne Note and the Key Biscayne
Loan Documents.

                  (e) The last paragraph commencing on page 1 and continuing
onto page 2 of the Original Collateral Assignment is hereby deleted in its
entirety, and the following substituted therefor:

            "In consideration of, and as an inducement to, the making by
Assignee to Charterhouse and Assignor of the loan evidenced by the Note and
secured by the Mortgage and the other Loan Documents, Assignor hereby GRANTS to
Assignee a security interest in and also hereby ASSIGNS, transfers and sets over
to Assignee all the right, title, interest, power and authority of Assignor in,
under and by virtue of the Assigned License or any future license for the sale
of alcoholic beverages given or obtained with respect to the whole or any
portion of the Licensed Premises."
<PAGE>

            5. Modification of Other Loan Documents.

                  (a) All references to the term "Note" contained in the
Original Loan Documents shall be deemed to refer to the Amended and Restated
Note; all references to the term "Loan" contained in the Original Loan Documents
shall be deemed to refer to the loan evidenced by the Amended and Restated Note.

                  (b) All references to the terms "Mortgage" contained in the
Original Loan Documents shall be deemed to refer to the Original Mortgage, as
modified hereby.

                  (c) All references contained in any of the Original Loan
Documents to the term "Loan Documents" shall be deemed to refer to such term as
defined herein.

            6. Reaffirmation of Loan Documents.

                  (a) Borrower hereby re-makes each and every representation and
warranty of Borrower to Lender contained in Article III of the Original Mortgage
and Section 1 of the Original Environmental Indemnity Agreement.

                  (b) As modified hereby, the terms and provisions of the
Original Mortgage and the other Original Loan Documents are hereby ratified and
confirmed, and shall be and remain in full force and effect, enforceable in
accordance with their terms.

            7. Escrow Agreement. Borrower hereby represents and warrants to
Lender that the repairs and capital improvements to the Property to be completed
pursuant to the terms of the Escrow Agreement (the "Escrow Agreement") dated as
of December 18, 1996, by and between Borrower, Lender and the "Servicer"
thereunder have been completed, and acknowledges that the funds held pursuant to
the terms of the Escrow Agreement have been fully disbursed to Borrower as
provided therein, except for the $200,000.00 Capital Reserve (as defined
therein), which shall be retained and held by Lender pursuant to the Escrow
Agreement and, provided no Default or Event of Default (as defined in the
Mortgage) shall then exist, shall be disbursed by Lender to Borrower on the
first business day following January 1, 2002.

            8. Grant of Lien and Security Interest.

                  (a) Borrower hereby acknowledges and confirms that the
Original Mortgage, as modified hereby, constitutes a first priority security
conveyance of and first lien on the Property, subject only to the Permitted
Exceptions set forth therein.

                  (b) In consideration of Lender's willingness to make the
Additional Advance to Borrower and to make the Key Biscayne Loan to Key Biscayne
Borrower, and as security for Borrower's obligations under the Note and the
other Loan Documents and Key Biscayne Borrower's obligations under the Key
Biscayne Note and the Key Biscayne Loan Documents, Borrower hereby (a) grants,
bargains, sells, conveys, mortgages and warrants with MORTGAGE COVENANTS unto
Mortgagee the entire right, title, interest and estate of Mortgagor in and to
the Property, whether now owned or hereafter acquired; TO HAVE AND TO HOLD the
same, together with all and singular the rights, hereditaments, and
appurtenances in anywise appertaining or belonging thereto, unto Mortgagee and
Mortgagee's successors,
<PAGE>

substitutes and assigns forever, and (b) grants to Lender a security interest in
the Property, Chattels and Intangible Personalty (as defined in the Original
Mortgage, as modified hereby), each on the terms and conditions set forth in the
Original Mortgage, as amended by this Agreement.

            9. Cross Default. An Event of Default under and as defined in the
Amended and Restated Note, the Mortgage or any other Loan Document shall
constitute an Event of Default under the Key Biscayne Note, the Key Biscayne
Mortgage and the Key Biscayne Loan Documents, and any Event of Default under and
as defined in any of such Key Biscayne Loan Documents shall constitute an Event
of Default under each and every Loan Document.

            10. Statutory Condition. This Agreement is upon the STATUTORY
CONDITION, and upon the further condition that each of the aforementioned
covenants, agreements, representations and warranties shall be kept and duly
performed. If there shall occur a breach of any of such conditions which
constitutes an Event of Default under the Loan Documents, or if the entire
mortgage debt becomes due at the option of Lender, the holder hereof shall have
the STATUTORY POWER OF SALE, and, as to the Collateral (as defined in the
Original Mortgage, as modified hereby), all rights and remedies conferred by the
Uniform Commercial Code.

            11. Miscellaneous.

                  (a) This Agreement may be executed in several counterparts,
and executed counterparts bearing signatures of Borrower and Lender shall
constitute a fully-executed original of this Agreement.

                  (b) This Agreement shall be governed by the laws of the
Commonwealth of Massachusetts, without giving effect to its principles of
conflicts of laws.

                  (c) The parties hereby agree to execute any and all additional
documents that may reasonably be required in order to evidence, secure or carry
out the agreements and undertakings set forth in this Agreement.

                  (d) This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their permitted successors and assigns.

                  (e) EACH PARTY TO THIS AGREEMENT KNOWINGLY, IRREVOCABLY,
VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED ON THIS AGREEMENT, OR
ARISING OUT OF, UNDER OR IN CONNECTION WITH THE NOTE, THE MORTGAGE OR ANY OTHER
LOAN DOCUMENT, ANY ORIGINAL LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO OR
TO ANY LOAN DOCUMENT OR ORIGINAL LOAN DOCUMENT. THIS PROVISION IS A MATERIAL
INDUCEMENT FOR THE PARTIES TO ENTER INTO THE TRANSACTIONS EVIDENCED BY THIS
AGREEMENT.

                   [Balance of page intentionally left blank]
<PAGE>

            IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date set forth above.

                              LENDER:

                              SUNAMERICA LIFE INSURANCE COMPANY,
                              an Arizona corporation

                              By:  /s/
                                   -------------------------------------
                              Name:
                                   -------------------------------------
                              Title:
                                    ------------------------------------

                              BORROWER:

                              /s/
                              ------------------------------------------
                              Peter J. Sonnabend, Trustee of the Charterhouse of
                              Cambridge Trust, and not individually

                              /s/
                              ------------------------------------------
                              Boy A.J. van Riel, Trustee of the Charterhouse of
                              Cambridge Trust, and not individually

                              SONESTA OF MASSACHUSETTS, INC., a
                              Massachusetts corporation

                              By: /s/
                                 ---------------------------------------
                              Peter J. Sonnabend, Vice President
<PAGE>

                 [ATTACH CALIFORNIA ACKNOWLEDGMENT - SUNAMERICA]
<PAGE>

                          COMMONWEALTH OF MASSACHUSETTS

COMMONWEALTH OF MASSACHUSETTS             )
                                          )  ss                   May ___, 2000
COUNTY OF                                 )
          --------------------------------

                  Then personally appeared the above-named Peter J. Sonnabend as
Trustee of the Charterhouse of Cambridge Trust, and not individually, and
acknowledged the foregoing instrument to be the free act and deed of Peter J.
Sonnabend and such trust before me.

                                  --------------------------------------------
                                  Notary Public

                                  My commission expires ______________________

                          COMMONWEALTH OF MASSACHUSETTS

COMMONWEALTH OF MASSACHUSETTS             )
                                          )  ss                   May ___, 2000
COUNTY OF                                 )
          --------------------------------

            Then personally appeared the above-named Boy A.J. van Riel, Trustee
of Charterhouse of Cambridge Trust, and not individually, and acknowledged the
foregoing instrument to be the free act and deed of Boy A.J. van Riel and such
trust before me.

                                  --------------------------------------------
                                  Notary Public

                                  My commission expires ______________________

                          COMMONWEALTH OF MASSACHUSETTS

COMMONWEALTH OF MASSACHUSETTS             )
                                          )  ss                   May ___, 2000
COUNTY OF                                 )
          --------------------------------

            Then personally appeared the above-named Peter J. Sonnabend as Vice
President of Sonesta of Massachusetts, Inc., a Massachusetts corporation, and
acknowledged the foregoing instrument to be the free act and deed of Peter J.
Sonnabend and such corporation before me.

                                  --------------------------------------------
                                  Notary Public

                                  My commission expires ______________________
<PAGE>

                                    EXHIBIT A

                            (Description of Property)

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