Exhibit 10.11

SECOND AMENDMENT TO consolidated,

AMENDED AND RESTATED LOAN AGREEMENT

 

THIS SECOND AMENDMENT TO consolidated, AMENDED AND RESTATED LOAN AGREEMENT
(“Amendment”) is effective this 21st day of February, 2018 (the “Amendment
Effective Date”) among WELLTOWER INC. (formerly known as Health Care REIT,
Inc.), a corporation organized under the laws of the State of Delaware
(“Lender”), having its chief executive office located at 4500 Dorr Street,
Toledo, Ohio  43615‑4040, and each of the borrower entities set forth on
Schedule I (individually and collectively, “Borrower”), each having its chief
executive office located at 101 East State Street, Kennett Square, Pennsylvania
19348.

R E C I T A L S:

A. Lender and Borrower have previously entered into a Consolidated, Amended and
Restated Loan Agreement (as amended, the “Loan Agreement”) executed December 22,
2016, effective as of October 1, 2016.

B. Concurrently herewith, Lender and GEN and certain of their Affiliates are
entering into a certain Omnibus Agreement (as amended, the “Omnibus Agreement”)
and the Note is being amended and restated.

C. Lender and Borrower desire to amend the Loan Agreement as set forth herein,
effective for all purposes as of the Amendment Effective Date.

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

1. Definitions.  Any capitalized terms not defined in this Amendment shall have
the meanings set forth in the Loan Agreement.

 

2. Loan Amount.  The definition of “Loan Amount” in Section 1.2 of the Loan
Agreement is hereby amended to read in its entirety as follows:

 

“Loan Amount” originally meant $138,633,479.  As a result of various
pre-payments, the “Loan Amount” as of the Amendment Effective Date has been
reduced to $131,100,393.

 

3. Representations and Warranties.  Borrower hereby represents and warrants that
the representations and warranties set forth in Article 4 of the Loan Agreement
are true and correct as of the date hereof.

 

4. Affirmation.  Except as specifically modified by this Amendment, the terms
and provisions of the Loan Agreement are hereby affirmed and shall remain in
full force and effect. 

 

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5. Binding Effect.  This Amendment will be binding upon and inure to the benefit
of the successors and permitted assigns of Lender and Borrower.

 

6. Further Modification.  The Loan Agreement may be further modified only by
writing signed by Lender and Borrower.

 

7. Counterparts.  This Amendment may be executed in multiple counterparts, each
of which shall be deemed an original hereof, but all of which will constitute
one and the same document.

8. Guarantor.  This Amendment shall have no force or effect unless and until
each Guarantor has concurrently executed the attached consent of Guarantor.

 

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IN WITNESS WHEREOF, Lender and Borrower have executed this Amendment as of the
date first set forth above.

 

WELLTOWER INC.

 

By: /s/ Justin Skiver

Justin Skiver, Authorized Signatory

 

 

 

EACH BORROWER LISTED ON SCHEDULE 1 HERETO

 

By: /s/ Michael S. Sherman

Michael S. Sherman, Secretary

 

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SCHEDULE 1:  BORROWERS

 

 

 

Borrower

State of Organization

SHG Resources, LLC

DE

23 Fair Street Property, LLC

CT

55 Kondracki Lane Property, LLC

CT

2015 East West Highway Property, LLC

MD

1165 Easton Avenue Property, LLC

NJ

1420 South Black Horse Pike Property, LLC

NJ

261 Terhune Drive Property, LLC

NJ

98 Hospitality Drive Property LLC

VT

 

 

 

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