Exhibit 10.29.2

LOAN SATISFACTION AND TERMINATION OF ASSIGNMENT OF DEFENSE AND ESCROW AGREEMENT

WHEREAS, Golf Trust of America, L.P. (" GTA ") and Elk Funding, L.L.C. (" Elk Funding ") entered into that certain Loan Agreement dated July 15, 2004 (the " Loan Agreement ") pursuant to which Elk Funding made a loan to GTA in the amount of Two Million and No/100 Dollars ($2,000,000) as evidenced by Promissory Note A (" Note A ") in the amount of Seven Hundred Thousand and No/100 Dollars ($700,000) and Promissory Note B (" Note B ") in the amount of One Million Three Hundred Thousand and No/100 Dollars ($1,300,000), both dated July 15, 2004 (the Loan Agreement, Note A and Note B are collectively referred to herein as the " Loan Documents ");

WHEREAS, Note B was previously satisfie