JOINT FILING AGREEMENTJoint Filing Agreement • November 16th, 2005 • Aew Capital Management L P/Ma • Real estate investment trusts
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of shares of stock of Golf Trust of America, Inc.
November 11, 2005 AEW Targeted Securities Fund, L.P. World Trade Center East Two Seaport Lane Boston, MA 02210-2021 Attn: Mr. Robert G. GiffordOption Agreement • November 16th, 2005 • Aew Capital Management L P/Ma • Real estate investment trusts • New York
This letter references that certain letter agreement (the “Option Agreement”) dated as of May 6, 2005 by and between AEW Targeted Securities Fund, L.P. (“AEW”) and Golf Trust of America, Inc. (the “Company”). As you know, the Company has entered into an agreement (the “Asset Purchase Agreement”) with CMI Financial Network, LLC (“CMI”) dated as of October 27, 2005 which contemplates, without limitation, the acquisition by CMI or its nominee(1) (the “Buyer”) of the Westin Innisbrook Resort (and certain related assets and liabilities thereof) by November 30, 2005. The Buyer has the right to extend the date of the closing to December 30, 2005. The Buyer also has the right to terminate the Asset Purchase Agreement for any reason until the expiration of the due diligence period on November 25, 2005. In connection with the Asset Purchase Agreement, we have requested, and by signing below AEW confirms, AEW’s agreement to amend the Option Agreement as set forth below in this First Amendment to
