Exhibit 10.25

 

FIRST AMENDMENT TO
AMENDED AND RESTATED MASTER LEASE AGREEMENT
(LEASE NO. 4)

 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT (LEASE NO.
4) (this “Amendment”) is made and entered into as of October 1, 2009 by and
among each of the parties identified on the signature pages hereof as a landlord
(collectively, “Landlord”), and each of the parties identified on the signature
pages hereof as a tenant (jointly and severally, “Tenant”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the terms of that certain Amended and Restated Master Lease
Agreement (Lease No. 4), dated as of August 4, 2009 (“Amended Lease No. 4”),
Landlord leases to Tenant, and Tenant leases from Landlord, the Leased Property
(this and other capitalized terms used but not otherwise defined herein having
the meanings given such terms in Amended Lease No. 4), all as more particularly
described in Amended Lease No. 4; and

 

WHEREAS, on or about the date hereof, SNH CHS Properties Trust has acquired
certain real property and related improvements known as Brandon Woods at
Alvamar, and located at 1501 Inverness Drive, Lawrence, Kansas 66047, as more
particularly described on Exhibit A-26 attached hereto (the “Brandon Woods
Property”); and

 

WHEREAS, in connection with the acquisition of the Brandon Woods Property, SNH
CHS Properties Trust desires to lease the Brandon Woods Property to Five Star
Quality Care Trust and Five Star Quality Care Trust desires to lease the Brandon
Woods Property from SNH CHS Properties Trust; and

 

WHEREAS, SNH CHS Properties Trust, the other entities comprising Landlord, Five
Star Quality Care Trust and the other entities comprising Tenant wish to amend
Amended Lease No. 4 to include the Brandon Woods Property;

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the mutual receipt and legal sufficiency
of which are hereby acknowledged, Landlord and Tenant hereby agree that,
effective as of the date hereof, Amended Lease No. 4 is hereby amended as
follows:

 

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1.             Definition of Minimum Rent.  The defined term “Minimum Rent” set
forth in Section 1.68 of Amended Lease No. 4 is hereby deleted in its entirety
and replaced with the following:

 

“Minimum Rent”  shall mean the sum of Twenty-Two Million Seven Hundred
Forty-Seven Thousand Three Hundred Sixty-Nine and 09/100s Dollars
($22,747,369.09) per annum.

 

2.             Leased Property.  Section 2.1 of Amended Lease No. 4 is hereby
amended by deleting subsection (a) therefrom in its entirety and replacing it
with the following:

 

(a)           those certain tracts, pieces and parcels of land as more
particularly described on Exhibits A-1 through A-26 attached hereto and made a
part hereof (the “Land”).

 

3.             Schedule 1.  Schedule 1 to Amended Lease No. 4 is hereby deleted
in its entirety and replaced with Schedule 1 attached hereto.

 

4.             Exhibit A.  Exhibit A to Amended Lease No. 4 is hereby amended by
adding Exhibit A-26 attached hereto immediately following Exhibit A-25 to the
Amended Lease No. 4.

 

5.             Ratification.  As amended hereby, Amended Lease No. 4 is hereby
ratified and confirmed.

 

[Remainder of page intentionally left blank;

signature pages follow]

 

2

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IN WITNESS WHEREOF, the parties have executed this Amendment as a sealed
instrument as of the date above first written.

 

 

LANDLORD:

 

 

 

SNH SOMERFORD PROPERTIES TRUST

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

 

 

 

 

SNH NS PROPERTIES TRUST

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

 

 

 

 

SNH/LTA PROPERTIES TRUST

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

 

 

 

 

SPTIHS PROPERTIES TRUST

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

 

 

 

 

SNH CHS PROPERTIES TRUST

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

3

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SNH/LTA PROPERTIES GA LLC

 

 

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

 

 

 

 

CCOP SENIOR LIVING LLC

 

 

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

 

 

 

 

TENANT:

 

 

 

FIVE STAR QUALITY CARE TRUST

 

 

 

 

 

By:

/s/ Francis R. Murphy III

 

 

Francis R. Murphy III

 

 

Treasurer

 

 

 

 

 

 

 

FIVE STAR QUALITY CARE - NS TENANT, LLC

 

 

 

 

 

By:

/s/ Francis R. Murphy III

 

 

Francis R. Murphy III

 

 

Treasurer

 

 

 

 

 

 

 

FS TENANT HOLDING COMPANY TRUST

 

 

 

 

 

By:

/s/ Francis R. Murphy III

 

 

Francis R. Murphy III

 

 

Treasurer

 

4

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EXHIBIT A-26

 

Brandon Woods at Alvamar

1501 Inverness Drive

Lawrence, KS 66047

 

Certain attachments to the Exhibits to this agreement have been omitted. The
Company agrees to furnish supplementally copies of any of the omitted
attachments to the Exhibits to the Securities and Exchange Commission upon
request.

 

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SCHEDULE 1

 

PROPERTY-SPECIFIC INFORMATION

 

Exhibit

 

Property Address

 

Base Gross Revenues
(Calendar Year)

 

Base Gross Revenues
(Dollar Amount)

 

Commencement
Date

 

Interest
Rate

 

A-1

 

Somerford Place - Stockton
3530 Deer Park Drive
Stockton, CA 95219

 

2009

 

N/A

 

03/31/2008

 

8

%

A-2

 

La Villa Grande Care Center
2501 Little Bookcliff Drive
Grand Junction, CO 81501

 

2005

 

$

5,205,189

 

12/31/2001

 

10

%

A-3

 

Court at Palm-Aire
2701 North Course Drive
Pompano Beach, FL 33069

 

2007

 

$

12,992,201

 

09/01/2006

 

8.25

%

A-4

 

Southland Care Center
606 Simmons Street
Dublin, GA 31021

 

2005

 

$

5,335,403

 

12/31/2001

 

10

%

A-5

 

Autumn Breeze Healthcare Center
1480 Sandtown Road
Marietta, GA 30008

 

2005

 

$

5,208,341

 

12/31/2001

 

10

%

A-6

 

Northlake Gardens
1300 Montreal Road
Tucker, GA 30084

 

2006

 

$

2,240,421

 

06/03/2005

 

9

%

A-7

 

Westridge Quality
Care & Rehabilitation
600 Manor Drive
Clarinda, IA 51632

 

2005

 

$

2,933,641

 

12/31/2001

 

10

%

A-8

 

Brenden Gardens
900 Southwind Road
Springfield, IL 62703

 

2007

 

$

1,802,414

 

09/01/2006

 

8.25

%

A-9

 

Overland Park Place
6555 West 75th Street
Overland Park, KS 66204

 

2005

 

$

2,539,735

 

10/25/2002

 

10

%

A-10

 

Morningside of Mayfield
1517 West Broadway
Mayfield, KY 42066

 

2006

 

$

1,197,256

 

11/19/2004

 

9

%

A-11

 

The Neighborhood of Somerset
100 Neighborly Drive
Somerset, KY 42503

 

2007

 

$

1,893,629

 

11/05/2006

 

8.25

%

 

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A-12

 

Centennial Park
Retirement Village
510 Centennial Circle
North Platte, NE 69101

 

2009

 

N/A

 

02/17/2008

 

8

%

A-13

 

Westgate Assisted Living
3030 South 80th Street
Omaha, NE 68124

 

2006

 

$

2,210,173

 

06/03/2005

 

9

%

A-14

 

NewSeasons at Cherry Hill
490 Cooper Landing Road
Cherry Hill, NJ 08002*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-15

 

NewSeasons at Mount Arlington
2 Hillside Drive
Mount Arlington, NJ 07856*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-16

 

NewSeasons at New Britain
800 Manor Drive
Chalfont, PA 18914*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-17

 

NewSeasons at Clarks Summit
950 Morgan Highway
Clarks Summit, PA 18411*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-18

 

NewSeasons at Exton
600 North Pottstown Pike
Exton, PA 19341*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-19

 

NewSeasons at Glen Mills (Concordville)
242 Baltimore Pike
Glen Mills, PA 19342*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-20

 

NewSeasons at Tiffany Court
700 Northampton Street
Kingston, PA 18704*

 

N/A

 

N/A

 

12/29/2003

 

10

%

A-21

 

Morningside of Greenwood
116 Enterprise Court
Greenwood, SC 29649

 

2006

 

$

1,322,836

 

06/03/2005

 

9

%

A-22

 

Montevista at Coronado
1575 Belvidere Street
El Paso, TX 79912

 

2005

 

$

8,149,609

 

01/11/2002

 

10

%

 

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“*” indicates New Seasons Property

 

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A-23

 

Dominion Village at Poquoson
531 Wythe Creek Road
Poquoson, VA 23662

 

2005

 

$

1,359,832

 

5/30/2003

 

10

%

A-24

 

Morningside in the West End
3000 Skipwith Road
Richmond, VA 23294

 

2006

 

$

3,792,363

 

11/19/2004

 

9

%

A-25

 

Worland Healthcare &
Rehabilitation Center
1901 Howell Avenue
Worland, WY 82401

 

2005

 

$

3,756,035

 

12/31/2001

 

10

%

A-26

 

Brandon Woods at Alvamar
1501 Inverness Drive,
Lawrence, KS 66047

 

2010

 

N/A

 

10/01/2009

 

8.75

%

 

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