EXHIBIT 10.16.1
FIRST AMENDMENT TO AMENDED AND RESTATED
MASTER LEASE AND SECURITY AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AND SECURITY AGREEMENT
(this “Amendment”) is made as of January 10, 2018, but effective as of November
1, 2017 (the “Effective Date”), by and among (i) HCP – AM/Colorado, LLC, a
Delaware limited liability company, HCP – AM/Illinois, LLC, a Delaware limited
liability company, HCP – AM/Tennessee, LLC, a Delaware limited liability
company, HCP Brofin Properties, LLC, a Delaware limited liability company, HCP
Cy-Fair, LLC, a Delaware limited liability company, HCP Eden2 A Pack, LLC, a
Delaware limited liability company, HCP Eden2 B Pack, LLC, a Delaware limited
liability company, HCP Emfin Properties, LLC, a Delaware limited liability
company, HCP EMOH, LLC, a Delaware limited liability company, HCP Friendswood,
LLC, a Delaware limited liability company, HCP HB2 Sakonnet Bay Manor, LLC, a
Delaware limited liability company, HCP HB2 South Bay Manor, LLC, a Delaware
limited liability company, HCP Jacksonville, LLC, a Delaware limited liability
company, HCP MA2 Massachusetts LP, a Delaware limited partnership, HCP MA3
California, LP, a Delaware limited partnership, HCP MA3 Washington, LP, a
Delaware limited partnership, HCP Partners, LP, a Delaware limited partnership,
HCP Port Orange, LLC, a Delaware limited liability company, HCP Senior Housing
Properties Trust, a Delaware statutory trust, HCP SH ELP1 Properties, LLC, a
Delaware limited liability company, HCP SH ELP2 Properties, LLC, a Delaware
limited liability company, HCP SH ELP3 Properties, LLC, a Delaware limited
liability company, HCP SH Mountain Laurel, LLC, a Delaware limited liability
company, HCP SH River Valley Landing, LLC, a Delaware limited liability company,
HCP SH Sellwood Landing, LLC, a Delaware limited liability company, HCP
Springtree, LLC, a Delaware limited liability company, HCP St. Augustine, LLC, a
Delaware limited liability company, HCP Wekiwa Springs, LLC, a Delaware limited
liability company, HCP, Inc., a Maryland corporation, HCPI Trust, a Maryland
real estate investment trust, Texas HCP Holding, L.P., a Delaware limited
partnership, and Westminster HCP, LLC, a Delaware limited liability company
(collectively, as their interests may appear, “Lessor”), and (ii) ARC Carriage
Club of Jacksonville, Inc., a Tennessee corporation, ARC Greenwood Village,
Inc., a Tennessee corporation, ARC Holley Court, LLC, a Tennessee limited
liability company, ARC Santa Catalina Inc., a Tennessee corporation, BLC
Chancellor-Lodi LH, LLC, a Delaware limited liability company, BLC
Chancellor-Murrieta LH, LLC, a Delaware limited liability company, Emeritus
Corporation, a Washington corporation, Fort Austin Limited Partnership, a Texas
limited partnership, HBP Leaseco, L.L.C., a Delaware limited liability company,
Homewood at Brookmont Terrace, LLC, a Tennessee limited liability company, LH
Assisted Living, LLC, a Delaware limited liability company, Park Place
Investments, LLC, a Kentucky limited liability company, Senior Lifestyle
Sakonnet Bay Limited Partnership, a Delaware limited partnership, South Bay
Manor, L.L.C., a Delaware limited liability company, Summerville at Cy-Fair
Associates, L.P., a Delaware limited partnership, Summerville at Friendswood
Associates, L.P., a Delaware limited partnership, Summerville at Hillsborough,
L.L.C., a New Jersey limited liability company, Summerville at Port Orange,
Inc., a Delaware corporation, Summerville at Prince William, Inc., a Delaware
corporation, Summerville at St. Augustine, LLC, a Delaware limited liability
company, Summerville at Stafford, L.L.C., a New Jersey limited liability
company, Summerville at Voorhees, L.L.C., a New Jersey limited liability
company, Summerville at Wekiwa Springs, LLC, a Delaware limited liability
company, and Summerville at Westminster, Inc., a Maryland corporation
(collectively, jointly and severally, “Lessee”), with respect to the following:

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RECITALS
A.    Lessor, as “Lessor”, and Lessee, as “Lessee”, are parties to that certain
Amended and Restated Master Lease and Security Agreement dated as of the
Effective Date (the “Lease”). All capitalized terms used and not defined in this
Amendment shall have the meanings assigned to them in the Lease.
B.    Pursuant to the terms of that certain Guaranty of Obligations dated as of
the Effective Date, made by Brookdale Senior Living Inc., a Delaware corporation
(“Guarantor”), in favor of Lessor (the “Guaranty”), Guarantor has guaranteed the
obligations of Lessee under the Lease, as more particularly described therein.
C.    Lessor and Lessee desire to amend the Lease, effective as of the Effective
Date, in order to modify certain provisions relating to the definition and
applicability of a “Put Event” thereunder.
AGREEMENT
IN CONSIDERATION OF the foregoing recitals, the mutual promises contained
herein, and other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto hereby agree as follows:
1.Modifications of Lease Relating to Definitions.
(a)    Effective as of the Effective Date, Section 2.1 of the Lease is hereby
amended to add the following definition:
“Put Event Applicable Facility: Each of the Pool 1 Facilities, the Pool 2
Facilities, the Pool 3 Facilities and the Pool 4 Facilities (including, for the
avoidance of doubt, any Removal Facilities that are otherwise Pool 1 Facilities,
Pool 2 Facilities, Pool 3 Facilities or Pool 4 Facilities).”
(b)    Effective as of the Effective Date, the definition of “Put Event” in
Section 2.1 of the Lease is hereby amended and restated in its entirety to read
as follows:
“Put Event: With respect to any Put Event Applicable Facility an Event of
Default hereunder arising pursuant to any of Sections 16.1(b) through 16.1(e),
16.1(f) (arising out of (i) a breach or default by Lessee during the Term of any
of its obligations or covenants pursuant to any of Sections 7.2.1, 7.2.2, 7.2.3,
7.2.5, 7.4, 37.1 or 37.2 or (ii) any other failure of Lessee to obtain and
maintain all material licenses, permits and other authorizations to use and
operate such Put Event Applicable Facility for its Primary Intended Use in
accordance with all Legal Requirements), 16.1(k) relating to such Put Event
Applicable Facility, 16.1(l) (arising out of a breach of any material
representation or warranty of Lessee or any Guarantor in any such document
relating to such Put Event Applicable Facility), 16.1(m) relating to such Put
Event Applicable Facility and/or 16.1(o) relating to such Put Event Applicable
Facility. Notwithstanding that Lessor and Lessee have

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specifically defined a “Put Event” for the limited purpose of setting forth the
circumstances under which Lessor shall be entitled to the remedy set forth in
Section 16.5, in no event shall this definition derogate the materiality of any
other Event of Default (including any Event of Default which does not constitute
a Put Event) or otherwise limit Lessor’s rights and remedies upon the occurrence
of any such Event of Default, including those rights and remedies set forth in
Sections 16.2, 16.3, 16.4 and/or 16.9. For the avoidance of doubt, a Put Event
is not applicable to any Facilities other than the Put Event Applicable
Facilities.”
2.    Modification of Lease Relating to Applicability of Put Event. Effective as
of the Effective Date, Section 16.5 of the Lease is hereby amended and restated
in its entirety to read as follows:
“16.5    Lessee’s Obligation to Purchase. Upon the occurrence of a Put Event
with respect to any Put Event Applicable Facility or Put Event Applicable
Facilities, Lessor shall be entitled to require Lessee to purchase the Leased
Property of such Put Event Applicable Facility or Put Event Applicable
Facilities on the first Minimum Rent Payment Date occurring not less than thirty
(30) days after the date specified in a notice from Lessor requiring such
purchase for an amount equal to the greater of (i) the Fair Market Value of such
Put Event Applicable Facility(ies), or (ii) the Minimum Purchase Price of such
Put Event Applicable Facility(ies), plus, in either event, all Rent then due and
payable (excluding any portion of the installment of Minimum Rent equal to the
Allocated Minimum Rent for such Put Event Applicable Facility(ies) due on the
purchase date) with respect to such Put Event Applicable Facility(ies). If
Lessor exercises such right, Lessor shall convey the Leased Property of such Put
Event Applicable Facility(ies) to Lessee on the date fixed therefor in
accordance with the provisions of Article XVIII upon receipt of the purchase
price therefor and this Lease shall thereupon terminate with respect to such Put
Event Applicable Facility(ies). Any purchase by Lessee of the Leased Property of
a Put Event Applicable Facility pursuant to this Section shall be in lieu of the
damages specified in Section 16.3 with respect to such Put Event Applicable
Facility. For the avoidance of doubt, the provisions of this Section 16.5 are
not applicable to any Facilities other than the Put Event Applicable
Facilities.”
3.    Miscellaneous.
(a)Ratification and Confirmation of Lease. This Amendment shall be deemed
incorporated into the Lease and shall be construed and interpreted as though
fully set forth therein. As amended by this Amendment, the terms and provisions
of the Lease are hereby ratified and confirmed in all respects.
(b)Reaffirmation of Lease and Treatment Thereof. Lessor and Lessee hereby
acknowledge, agree and reaffirm that (i) except as otherwise expressly provided
in the Lease (as hereby amended) to the contrary and for the limited purposes so
provided, the Lease (as hereby amended) is and the parties intend the same for
all purposes to be treated as a single, integrated

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and indivisible agreement and economic unit, and (ii) the Lease (as hereby
amended) shall be treated as an operating lease for all purposes and not as a
synthetic lease, financing lease or loan, and Lessor shall be entitled to all
the benefits of ownership of the Leased Property, including depreciation for all
federal, state and local tax purposes.
(c)Conflicts. In the event of any conflict between the provisions of this
Amendment and those of the Lease, the provisions of this Amendment shall
control.
(d)Counterparts; Electronically Submitted Signatures. This Amendment may be
executed in any number of counterparts, each of which shall be a valid and
binding original, but all of which together shall constitute one and the same
instrument. Signatures transmitted via facsimile or other electronic means
(including emailed pdf files) may be used in place of original signatures on
this Amendment, and Lessor and Lessee both intend to be bound by such signatures
transmitted via facsimile or other electronic means.
(e)Severability. If any term or provision of this Amendment or any application
thereof shall be held invalid or unenforceable, the remainder of this Amendment
and any other application of such term or provision shall not be affected
thereby.

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and
attested by their respective officers thereunto duly authorized.

LESSEE:
Witness: /s/ Jessica VanDerNoord   
EMERITUS CORPORATION,
a Delaware corporation

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner   
Name: H. Todd Kaestner
Title: Executive Vice President

 
Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT PRINCE WILLIAM, INC., a Delaware corporation

Witness: /s /Elma Talbott      
By: /s/ H. Todd Kaestner         
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
LH ASSISTED LIVING, LLC,
a Delaware limited liability company
Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner   
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT HILLSBOROUGH, L.L.C., a New Jersey limited liability company

 
Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

 
Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT PORT ORANGE, INC., a Delaware corporation

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT STAFFORD, L.L.C.,
a New Jersey limited liability company
Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT VOORHEES, L.L.C.,
a New Jersey limited liability company
Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT WESTMINSTER, INC., a Maryland corporation

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT CY-FAIR ASSOCIATES, L.P., a Delaware limited partnership

By: SUMMERVILLE AT CY-FAIR, LLC
a Delaware limited liability company,
its General Partner
Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT FRIENDSWOOD ASSOCIATES, L.P., a Delaware limited partnership

 
By: SUMMERVILLE AT FRIENDSWOOD, LLC, a Delaware limited liability company, its
General Partner
Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT ST. AUGUSTINE, LLC, a Delaware limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
SUMMERVILLE AT WEKIWA SPRINGS LLC, a Delaware limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
BLC CHANCELLOR-LODI LH, LLC, a Delaware limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
BLC CHANCELLOR-MURRIETA LH, LLC, a Delaware limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
HBP LEASECO, L.L.C., a Delaware limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
ARC CARRIAGE CLUB OF JACKSONVILLE, INC., a Tennessee corporation

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
ARC SANTA CATALINA INC., a Tennessee corporation

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
PARK PLACE INVESTMENTS, LLC,
a Kentucky limited liability company
Witness: /s/ Elma Talbott      
By: Fort Austin Limited Partnership, a Texas limited liability partnership, its
sole/managing member
By: ARC Fort Austin Properties, LLC, a Tennessee limited liability company, its
general partner

By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
FORT AUSTIN LIMITED PARTNERSHIP, a Texas limited partnership
Witness: /s/ Elma Talbott      
By: ARC Fort Austin Properties, LLC, a Tennessee limited liability company, its
general partner

By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President
Witness: /s/ Jessica VanDerNoord   
ARC GREENWOOD VILLAGE, INC.,
a Tennessee corporation

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
ARC HOLLEY COURT, LLC,
a Tennessee limited liability company
Witness: /s/ Elma Talbott      
By: ARC Holley Court Management, Inc., a Tennessee corporation, its Managing
Member 

By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

Witness: /s/ Jessica VanDerNoord   
HOMEWOOD AT BROOKMONT TERRACE, LLC, a Tennessee limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner
Name: H. Todd Kaestner
Title: Executive Vice President 

Witness: /s/ Jessica VanDerNoord   
SENIOR LIFESTYLE SAKONNET BAY LIMITED PARTNERSHIP, a Delaware limited
partnership
Witness: /s/ Elma Talbott      
By: SLC Sakonnet Bay, Inc., a Delaware corporation, its general partner 

By: /s/ H. Todd Kaestner    
Name: H. Todd Kaestner
Title: Executive Vice President

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Witness: /s/ Jessica VanDerNoord   
SOUTH BAY MANOR, L.L.C., a Delaware limited liability company

Witness: /s/ Elma Talbott      
By: /s/ H. Todd Kaestner 
Name: H. Todd Kaestner
Title: Executive Vice President 

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LESSOR:
Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCP MA2 MASSACHUSETTS, LP,  
a Delaware limited partnership

By: HCP MA2 GP Holding, LLC,
a Delaware limited liability company,
its general partner

By: /s/ Kendall K. Young 
       Name: Kendall K. Young
       Title: Sr. Managing Director

Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCP MA3 CALIFORNIA, LP, and
HCP MA3 WASHINGTON, LP, 
each a Delaware limited partnership

By: HCP MA3 A Pack GP, LLC,
a Delaware limited liability company,
their general partner

By: /s/ Kendall K. Young
Name: Kendall K. Young
       Title: Sr. Managing Director

Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

TEXAS HCP HOLDING, L.P., a
Delaware limited partnership

By: Texas HCP G.P., Inc., a Delaware
Corporation, its sole general partner

By: /s/ Kendall K. Young 
Name: Kendall K. Young
       Title: Sr. Managing Director

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Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCP PARTNERS, LP a Delaware limited partnership

By: HCP, MOB, Inc., a Delaware
Corporation, its general partner

By: /s/ Kendall K. Young       
Name: Kendall K. Young
       Title: Sr. Managing Director

Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCP SENIOR HOUSING PROPERTIES TRUST, a Delaware statutory trust

By: HCP Senior Housing Properties, LLC, a
        Delaware limited liability company, its
        managing trustee

By: /s/ Kendall K. Young 
Name: Kendall K. Young
       Title: Sr. Managing Director

Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCP, INC.,
a Maryland corporation

By: /s/ Kendall K. Young 
Name: Kendall K. Young
       Title: Sr. Managing Director

Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCPI, TRUST,
a Maryland real estate investment trust

By: /s/ Kendall K. Young 
Name: Kendall K. Young
       Title: Sr. Managing Director

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WESTMINSTER HCP, LLC,
a Delaware limited liability company
Witness: /s/ Kelly Howze      
Kelly Howze

By: HCPI/TENNESSEE, LLC,
a Delaware limited liability company,
its sole member

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

By: HCP, INC.,
       a Maryland corporation,
       its managing member

 
By: /s/ Kendall K. Young 
Name: Kendall K. Young
       Title: Sr. Managing Director

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Witness: /s/ Kelly Howze      
Kelly Howze

Witness: /s/ Taylor Sakamoto   
Taylor Sakamoto

HCP SH ELP1 PROPERTIES, LLC,
HCP SH ELP2 PROPERTIES, LLC, 
HCP SH ELP3 PROPERTIES, LLC, 
HCP EMOH, LLC,
HCP SH MOUNTAIN LAUREL, LLC, 
HCP SH RIVER VALLEY LANDING, LLC,
HCP SH SELLWOOD LANDING, LLC,
HCP SPRINGTREE, LLC,
HCP PORT ORANGE, LLC, 
HCP ST. AUGUSTINE, LLC, 
HCP WEKIWA SPRINGS, LLC, 
HCP CY-FAIR, LLC, 
HCP FRIENDSWOOD, LLC,
HCP EMFIN PROPERTIES, LLC,
HCP EDEN2 A PACK, LLC,
HCP EDEN2 B PACK, LLC,
HCP JACKSONVILLE, LLC,
HCP BROFIN PROPERTIES, LLC,
HCP – AM/COLORADO, LLC,
HCP – AM/ILLINOIS, LLC,
HCP – AM/TENNESSEE, LLC,
HCP HB2 SOUTH BAY MANOR, LLC, and
HCP HB2 SAKONNET BAY MANOR, LLC,
each a Delaware limited liability company

By: /s/ Kendall K. Young 
Name: Kendall K. Young
       Title: Sr. Managing Director

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REAFFIRMATION AND CONSENT OF GUARANTOR
Guarantor hereby (i) reaffirms all of its obligations under the Guaranty, (ii)
consents to the foregoing Amendment and (iii) agrees that its obligations under
the Guaranty shall extend to Lessee’s duties, covenants and obligations pursuant
to the Lease, as hereby amended.

Signed, sealed and delivered in the presence of:
/s/ Jessica VanDerNoord       
Name:
/s/ Elma Talbott             
Name:
BROOKDALE SENIOR LIVING INC.,
a Delaware corporation
By: /s/ H. Todd Kaestner
Name: H. Todd Kaestner
Title: EVP Corporate Development

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