Document:

AMENDMENT TO AGREEMENT OF LIMITED PARTNERSHIP

                                       OF

                         SHELBOURNE PROPERTIES III L.P.

            This Amendment, dated as of March 16, 2004 ("Amendment") to the
Second Amended and Restated Agreement of Limited Partnership, dated as of April
16, 2001 (as amended from time to time, the "Partnership Agreement") of
Shelbourne Properties III L.P. (the "Partnership"), is made and entered into by
and among (i) Shelbourne Properties III GP, Inc., as general partner ("SPGP"),
(ii) Shelbourne Properties III, Inc., HX Investors, L.P. and Shelbourne
Management LLC (together with SPGP, the "Partners") and (iii) Shelbourne
Properties GP, Inc. ("Newco").

            WHEREAS, pursuant to that certain agreement dated as of January 15,
2003, as amended March 16, 2004, by and among Presidio Capital Investment
Company, LLC, a Delaware limited liability company ("PCIC"), certain
subsidiaries of PCIC listed on the signature pages thereto, NorthStar Capital
Investment Corp., Shelbourne Management LLC, Shelbourne Properties I, Inc.,
Shelbourne Properties II, Inc., Shelbourne Properties III, Inc., Shelbourne
Properties I L.P., Shelbourne Properties II L.P., Shelbourne Properties III
L.P., and HX Investors, L.P. (the "ACCOR Agreement"), the Partnership intends to
effect a Complete Redemption (as defined in the ACCOR Agreement).

            WHEREAS, the parties deem it advisable to amend the Partnership
Agreement to reflect (i) the admission of Newco as a general partner and (ii)
the withdrawal of SPGP as a general partner, effective concurrently with the
Complete Redemption.

            NOW, THEREFORE, in consideration of the foregoing, the mutual
promises of the parties hereto, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

      1. Effective immediately prior to the Complete Redemption, Newco is hereby
admitted as a general partner of the Partnership with a 1% interest in the
profits and losses of the Partnership (provided that until the Complete
Redemption Newco's interest shall be limited to an interest in the Excluded
Properties, as such term is defined in the ACCOR Agreement) and, immediately
following the Complete Redemption, Newco shall be the sole general partner of
the Partnership.

      2. Effective concurrently with the Complete Redemption, SPGP hereby
withdraws as a general partner of the Partnership.

      3. As soon as practicable following the Complete Redemption, SPGP shall
file an amendment to the Partnership's Certificate of Limited Partnership
reflecting the admission of Newco as a general partner of the Partnership and
the withdrawal of SPGP as a general partner of the Partnership.

<PAGE>

      4. Each of the Partners consents to the admission of Newco as a general
partner and the withdrawal of SPGP as a general partner as provided in this
Agreement.

      5. This Amendment may be executed in one or more counterparts, each of
which shall be deemed an original and all of which together shall constitute one
original agreement binding on all parties hereto, notwithstanding that all the
parties shall not have signed the said counterpart.

      6. This Amendment shall be governed in all respects by the laws of the
State of Delaware (but not including the choice of law rules thereof).

      7. Except as hereby expressly modified, the Partnership Agreement, as
amended, shall otherwise be unchanged, shall remain in full force and effect,
and is hereby ratified and confirmed in all respects.

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<PAGE>

      IN WITNESS WHEREOF, each of the undersigned has executed or has caused
this Amendment to be duly executed on its behalf as of the day and year first
written above.

                                              SHELBOURNE PROPERTIES III GP, INC.

                                              By: /s/ Peter Braverman
                                                  ------------------------------
                                                  Peter Braverman
                                                  Executive Vice President

                                              SHELBOURNE PROPERTIES III, INC.

                                              By: /s/ Peter Braverman
                                                  ------------------------------
                                                  Peter Braverman
                                                  Executive Vice President

                                              SHELBOURNE MANAGEMENT LLC

                                              By: /s/ Steven B. Kauff
                                                  ------------------------------
                                              Name:  Steven B. Kauff
                                              Title: Authorized Signatory

                                              HX INVESTORS L.P.

                                              By: Exeter Capital Corporation,
                                                  its general partner

                                              By: /s/ Peter Braverman
                                                  ------------------------------
                                              Name:  Peter Braverman
                                              Title: Executive Vice President

                                              SHELBOURNE PROPERTIES GP, INC.

                                              By: /s/ Steven B. Kauff
                                                  ------------------------------
                                              Name:  Steven B. Kauff
                                              Title: Vice President

                                       3======================================================================

  NUMBER                                                     SHARES
----------------                                          ------------
                        GOOD BUDDY'S COFFEE EXPRESS, INC.
----------------                                          ------------

COMMON STOCK                               SEE REVERSE FOR CERTAIN DEFINITIONS
                                                         CUSIP ______________

      INCORPORATED UNDER THE LAWS OF THE STATE OF FLORIDA

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     THIS IS TO CERTIFY THAT

     is the owner of
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    fully paid and non-assessable shares of Common Stock, $.0001 par value, of

                         GOOD BUDDY'S COFFEEE EXPRESS, INC.

transferable only on the books of the Corporation by the holder hereof in
person or by duly authorized attorney upon surrender of this Certificate
properly endorsed. This Certificate and the shares represented hereby are
issued under and subject to the laws of the State of Florida and to the
Certificate of Incorporation and Bylaws of the Corporation, all as in effect
from time to time. This Certificate is not valid until countersigned and
registered by the Transfer Agent and Registrar.

      WITNESS the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers.

Dated:

Treasurer                                        President

GOOD BUDDY'S COFFEE EXPRESS, INC.
                                    FLORIDA
                                   [Corporate Seal]

                                   COUNTERSIGNED AND REGISTERED:

                                   -------------------------------
                                   TRANSFER AGENT AND REGISTRAR

                                   AUTHORIZED SIGNATURE

<PAGE>                                 1

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                         GOOD BUDDY'S COFFEE EXPRESS, INC.

      The Corporation shall furnish without charge to each stockholder who so
requests a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of stock of the
Corporation or series thereof and the qualifications, limitations or
restrictions of such preferences and/or rights. Such requests shall be made to
the Corporation's Secretary at the principal office of the Corporation.

      The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM -- as tenants in common
TEN ENT -- as tenants by the entireties
JT TEN  -- as joint tenants with right of
           survivorship and not as tenants
           in common

UNIF GIFT MIN ACT --       Custodian
                    ------------------------
                      (Cust)       (Minor)

            under Uniform Gifts to Minors Act

            ---------------------------------
                         (State)

    Additional abbreviations may also be used though not in the above list.

For value received, _______________ hereby sell(s), assign(s) and transfer(s)
unto

   PLEASE INSERT SOCIAL SECURITY OR OTHER
       IDENTIFYING NUMBER OF ASSIGNEE

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

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

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 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
______________________________________________________________________________
______________________________________________________________________________
________________________________________________________________________ shares

of the capital stock represented by the within Certificate, and do(es) hereby
irrevocably constitute and appoint
_____________________________________________________________________________
______________ Attorney to transfer the said stock on the books of the within
named Corporation with full power of substitution in the premises.

Dated _____________________

                              ----------------------------------------
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                    NOTICE:   THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND
                              WITH THE NAME AS WRITTEN UPON THE FACE OF THE
                              CERTIFICATE IN EVERY PARTICULAR, WITHOUT
                              ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

                              ------------------------------------------------
      Signature Guaranteed:   THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN                            ELIGIBLE GUARANTOR INSTITUTION (BANKS,
                              STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
                              CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
                              SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT
                              TO S.E.C. RULE l7Ad-15.

<PAGE>                                 2

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