EXHIBIT 10.3
OMNIBUS ASSIGNMENT AND AMENDMENT TO
THE PROPERTY MANAGEMENT AND LEASING AGREEMENTS
OF THE ENTITIES LISTED ON EXHIBIT A

This OMNIBUS ASSIGNMENT AND AMENDMENT TO THE PROPERTY MANAGEMENT AND LEASING
AGREEMENTS (this “Agreement”) is entered into as of October 4, 2019 (the
“Effective Date”), by and among (i) the entities listed on Exhibit A attached
hereto and made a part hereof (collectively, the “Owners”), (ii) CARTER VALIDUS
REAL ESTATE MANAGEMENT SERVICES, LLC, a Delaware limited liability company (the
“Assignor”) and (iii) CARTER VALIDUS REAL ESTATE MANAGEMENT SERVICES II, LLC, a
Delaware limited liability company (the “Assignee”).

W I T N E S S E T H :

WHEREAS, pursuant to the Property Management and Leasing Agreements by and among
each Owner and the Assignor (the “Management Agreements”), Assignor serves as
manager and tenant coordinating agent of the properties that are the subject of
the respective Management Agreements;

WHEREAS, pursuant to that certain Agreement and Plan of Merger (the “Merger
Agreement”) by and among Carter Validus Mission Critical REIT II, Inc. (“REIT
II”), Carter Validus Operating Partnership II, LP (“OP II”), Carter/Validus
Mission Critical REIT, Inc. (“REIT I”), Carter/Validus Operating Partnership, LP
(“OP I”) and Lightning Merger Sub, LLC (the “Merger Agreement”), dated as of
April 11, 2019, REIT I will merge with and into Merger Sub (the “Merger”) and,
as a result, OP I will become a subsidiary of REIT II;

WHEREAS, OP I owns the equity interests in each entity that owns a Property
(each an “Owner”) and, collectively, the “Owners”); and

WHEREAS, immediately prior to the Merger Effective Time (as defined in the
Merger Agreement) and pursuant to Section 8.3 of each of the Management
Agreements, the Assignee has agreed to acquire, and the Assignor has agreed to
assign, transfer, convey and deliver to the Assignee, all of the Assignor’s
rights, titles and interests in the Management Agreements.

NOW THEREFORE, in consideration of the mutual covenants and promises contained
herein and for other good and valuable consideration the receipt and adequacy of
which are hereby acknowledged, the Parties hereby agree as follows:

1.Assignment and Assumption. Effective as of the date hereof, upon the terms and
subject to the conditions set forth herein:

1

--------------------------------------------------------------------------------

(i)Effective immediately prior to the Merger Effective Time, Assignor hereby
assigns, transfers, conveys and delivers to Assignee, all of Assignor’s rights,
titles and interests in and to the Management Agreements; and
(ii)    Effective immediately prior the Merger Effective Time, Assignee hereby
(a) acquires all of Assignor’s rights, titles and interests in the Management
Agreements, agrees to be bound by each of the Management Agreements and shall be
deemed the “Manager” pursuant to each of the Management Agreements as of the
date hereof, and (b) unconditionally and irrevocably assumes, undertakes and
agrees, subject to valid claims and defenses, to pay, satisfy, perform and
discharge in full, as and when due, and release and discharge Assignee and its
successors and assigns completely and forever from, all obligations and
liabilities of any kind arising out of, or required to be performed under, the
Management Agreements, in each case, solely to the extent arising from and after
the date hereof; provided, however, that (x) it is understood and agreed that no
Assignee shall assume any obligation or claim arising out of the performance of,
or failure to perform under, any Management Agreement to the extent relating to
an act or omission prior to the date hereof or to the extent that such
obligation or claim is attributable to any period prior to the date hereof (the
“Retained Liabilities”) (and any third party shall be required to look solely to
Assignor with respect to any claims relating to such Retained Liabilities), and
(y) Assignor hereby agrees to indemnify, reimburse, defend and hold harmless
Assignee, its affiliates and representatives from and against any and all
damages of any kind or nature whatsoever which may be imposed on, incurred by,
or asserted against them, in any way by any third party relating to or arising
out of any Retained Liabilities.
(iii)    In accordance with Section 8.3 of each Management Agreement, the Owners
hereby consent to the assignment.
2.Further Assurances. The Parties covenant and agree to take such actions and
execute and deliver such further deeds, assignments or other transfer documents,
in each case, as a Party may reasonably request, to effectively contribute,
transfer, assign and convey, and to evidence such contribution, transfer,
assignment and conveyance of, the interests in the Management Agreements, if
any.

3.Assignor Representations and Warranties.

(i)    Assignor hereby represents and warrants to Assignee as follows:
(a)    Existence and Power. It is a limited liability company duly formed,
validly existing and in good standing under the laws of the State of Delaware
and has all power and authority required to carry on its business as now
conducted.
(b)    Authorization. Subject to the receipt of the consent of each of the
Owners, it has all requisite corporate or similar power, authority and legal
capacity to execute and delivery, as applicable, this Agreement and to perform
its obligations hereunder. The execution, delivery and performance of this
Agreement have been duly approved by all requisite action on it and its
applicable subsidiaries’ parts. This Agreement has been executed and delivered
by it or such affiliate, as applicable, and, assuming the due authorization,
execution

2

--------------------------------------------------------------------------------

and delivery by the other parties hereto and thereto, constitutes or will
constitute a legal, valid and binding obligation of it and such applicable
subsidiaries, enforceable against each such person in accordance with its terms,
subject to the Equitable Exceptions.
(c)    Non-Contravention. The execution, delivery and performance by it of this
Agreement does not and will not, directly or indirectly, (a) violate, contravene
or conflict with any provision of the organizational documents of such person,
(b) contravene or conflict with, or constitute a violation of, any applicable
order or provisions of any applicable law binding upon or applicable to any such
person, (c) require it or any of its respective subsidiaries to make or obtain
any registration, filing, application, notice, consent, approval, order,
qualification, authorization, designation, declaration or waiver with, to or
from any governmental authority or any other person, or (d) require a consent,
approval or waiver from, or notice to, any party to any contract to which it or
any of its respective affiliates (other than REIT I, OP I and their respective
subsidiaries) is a party.
4.Amendments. Each Management Agreement is hereby amended as follows.

(a)
Section 8.1 (Notices - Manager):

Manager: CARTER VALIDUS REAL ESTATE MANAGEMENT SERVICES II, LLC
c/o Carter & Associates, L.L.C
4890 W. Kennedy Blvd., Suite 650
Tampa, FL 33609    
Attention: Legal Department

5.Entire Agreement. This Agreement together with the respective Management
Agreements constitute the entire agreement and understanding among the Parties
in respect of the subject matter hereof and thereof and supersedes all prior and
contemporaneous arrangements, agreements and understandings, both oral and
written, whether in term sheets, presentations or otherwise among the Parties,
or between any of them, with respect to the subject matter hereof and thereof.

6.Governing Law. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of Delaware, without regard to the choice of
laws provisions thereof.

7.Titles. The titles and captions of the Articles, Sections and paragraphs of
this Agreement are included for convenience of reference only and shall have no
effect on the construction or meaning of this Agreement.

8.Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original and it will not be necessary in making
proof of this

3

--------------------------------------------------------------------------------

Agreement or the terms of this Agreement to produce or account for more than one
of such counterparts. All counterparts shall constitute one and the same
instrument. Each party may execute this Agreement via a facsimile (or
transmission of a .pdf file) of this Agreement. In addition, facsimile or .pdf
signatures of authorized signatories of the parties shall be valid and binding
and delivery of a facsimile or .pdf signature by any party shall constitute due
execution and delivery of this Agreement.

[Remainder of Page Left Intentionally Blank; Signature Pages Follow]

4

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the undersigned have executed and delivered this Agreement
as of the date first above written.
ASSIGNOR:
CARTER VALIDUS REAL ESTATE MANAGEMENT SERVICES, LLC,
a Delaware limited liability company
 
By: Carter/Validus REIT Investment Management Company, LLC, a Florida limited
liability company, its sole member
 
By: /s/ Michael A. Seton
Name: Michael A. Seton
Title: Chief Executive Officer

Signature Page to Assignment and Amendment

--------------------------------------------------------------------------------

ASSIGNEE:
CARTER VALIDUS REAL ESTATE MANAGEMENT SERVICES II, LLC
 
By: Carter Validus REIT Management Company II, LLC, a Florida limited liability
company, its sole member
 
By: /s/ Kay C. Neely
Name: Kay C. Neely
Title: Chief Financial Officer

Signature Page to Assignment and Amendment

--------------------------------------------------------------------------------

OWNERS:
 
HC-760 OFFICE PARKWAY, LLC
HC-2501 W. WILLIAM CANNON DR, LLC
HC-14024 QUAIL POINTE DRIVE, LLC,
each a Delaware limited liability company
 
By:Carter/Validus Operating Partnership, LP,
a Delaware limited partnership, its sole member
 
By:Carter Validus Mission Critical REIT II, LLC,
a Maryland limited liability company, its general partner
 
By:Carter Validus Mission Critical REIT II, Inc.,
a Maryland corporation, its sole member
 
 
By: /s/ Kay C. Neely
Name: Kay C. Neely
Title: Chief Financial Officer

Signature Page to Assignment and Amendment

--------------------------------------------------------------------------------

HC-2727 E. LEMMON AVENUE, LLC
HC-8451 PEARL STREET, LLC
HC-4499 ACUSHNET AVENUE, LLC
HC-17322 RED OAK DRIVE, LLC
HC-1940 TOWN PARK BOULEVARD, LLC
HC-4201 WILLIAM D. TATE AVENUE, LLC
HC-2257 KARISA DRIVE, LLC
HC-3873 N. PARKVIEW DRIVE, LLC
HC-3436 MASONIC DRIVE, LLC
HC-3001 NORTH AUGUSTA NATIONAL DRIVE, LLC
HC-1946 TOWN PARK BOULEVARD, LLC
HC-5330 N LOOP 1604 WEST, LLC
HC-10323 STATE HIGHWAY 151, LLC
HC-5101 MEDICAL DRIVE, LLC
HC-4810 N. LOOP 289, LLC
HC-7502 GREENVILLE AVENUE, LLC
HC-42570 SOUTH AIRPORT ROAD, LLC
HC-200 BLOSSOM STREET, LLC
HC-116 EDDIE DOWLING HIGHWAY, LLC
HCP-SELECT MEDICAL, LLC
HC-5330L N. LOOP 1604 WEST, LLC
HCP-DERMATOLOGY ASSOCIATES, LLC
HC-1101 KALISTE SALOOM ROAD, LLC
HC-800 EAST 68TH STREET, LLC
HC-5829 29 PALMS HIGHWAY, LLC,
each a Delaware liability company
 
By:Carter/Validus Operating Partnership, LP,
a Delaware limited partnership, its sole member
 
By:Carter Validus Mission Critical REIT II, LLC,
a Maryland limited liability company, its general partner
 
By:Carter Validus Mission Critical REIT II, Inc.,
a Maryland corporation, its sole member
 
By: /s/ Kay C. Neely
Name: Kay C. Neely
Title: Chief Financial Officer

Signature Page to Assignment and Amendment

--------------------------------------------------------------------------------

HC- 40055 BOB HOPE DRIVE, LLC
HC-77-840 FLORA ROAD, LLC
HC-6879 US HIGHWAY 98 WEST, LLC
HC-601 REDSTONE AVENUE WEST, LLC
HC-1026 MAR WALT DRIVE, NW, LLC
HC-2234 COLONIAL BLVD., LLC
HC-2270 COLONIAL BLVD., LLC
HC-8991 BRIGHTON LANE, LLC
HC-1120 LEE BOULEVARD, LLC
HC-7751 BAYMEADOWS RD. E., LLC
HC-#2 PHYSICIANS PARK DR., LLC
HC-6160 S. FORT APACHE ROAD, LLC
HC-52 NORTH PECOS ROAD, LLC
HC-187 SKYLAR DRIVE, LLC
HC-860 PARKVIEW DRIVE NORTH, UNITS A&B, LLC
HC-6310 HEALTH PKWY., UNITS 100&200, LLC
HCP-PAM WARM SPRINGS, LLC,
each a Delaware liability company
 
By:Carter/Validus Operating Partnership, LP,
a Delaware limited partnership, its sole member
 
By:Carter Validus Mission Critical REIT II, LLC,
a Maryland limited liability company, its general partner
 
By:Carter Validus Mission Critical REIT II, Inc.,
a Maryland corporation, its sole member
 
 
By: /s/ Kay C. Neely
Name: Kay C. Neely
Title: Chief Financial Officer

Signature Page to Assignment and Amendment

--------------------------------------------------------------------------------

HC-239 S. MOUNTAIN BOULEVARD, LP,
a Delaware limited partnership
 
By:HC-239 S. Mountain Boulevard Management, LLC,
a Delaware limited liability company, its general partner
 
By:Carter/Validus Operating Partnership, LP,
a Delaware limited partnership, its sole member
 
By:Carter Validus Mission Critical REIT II, LLC,
a Maryland limited liability company, its general partner
 
By:Carter Validus Mission Critical REIT II, Inc.,
a Maryland corporation, its sole member
 
 
By: /s/ Kay C. Neely
Name: Kay C. Neely
Title: Chief Financial Officer

Signature Page to Assignment and Amendment

--------------------------------------------------------------------------------

Exhibit A
OWNERS
1.
HC-760 Office Parkway, LLC
2.
HC-2501 W. William Cannon Dr, LLC
3.
HC-14024 Quail Pointe Drive, LLC
4.
HC-2727 E. Lemmon Avenue, LLC
5.
HC-8451 Pearl Street, LLC
6.
HC-4499 Acushnet Avenue, LLC
7.
HC-17322 Red Oak Drive, LLC
8.
HC-1940 Town Park Boulevard, LLC
9.
HC-4201 William D. Tate Avenue, LLC
10.
HC-2257 Karisa Drive, LLC
11.
HC-3873 N. Parkview Drive, LLC
12.
HC-3436 Masonic Drive, LLC
13.
HC-3001 North Augusta National Drive, LLC
14.
HC-1946 Town Park Boulevard, LLC
15.
HC-5330 N Loop 1604 West, LLC
16.
HC-10323 State Highway 151, LLC
17.
HC-5101 Medical Drive, LLC
18.
HC-4810 N. Loop 289, LLC
19.
HC-7502 Greenville Avenue, LLC
20.
HC-42570 South Airport Road, LLC
21.
HC-200 Blossom Street, LLC
22.
HC-116 Eddie Dowling Highway, LLC
23.
HCP-Select Medical, LLC
24.
HC-5330L N. Loop 1604 West, LLC
25.
HCP-Dermatology Associates, LLC
26.
HC-1101 Kaliste Saloom Road, LLC
27.
HC-800 East 68th Street, LLC
28.
HC-5829 29 Palms Highway, LLC
29.
HC- 40055 Bob Hope Drive, LLC
30.
HC-77-840 Flora Road, LLC
31.
HC-6879 US Highway 98 West, LLC
32.
HC-601 Redstone Avenue West, LLC
33.
HC-1026 Mar Walt Drive, NW, LLC
34.
HC-2234 Colonial Blvd., LLC
35.
HC-2270 Colonial Blvd., LLC
36.
HC-8991 Brighton Lane, LLC
37.
HC-1120 Lee Boulevard, LLC

--------------------------------------------------------------------------------

38.
HC-7751 Baymeadows Rd. E., LLC
39.
HC-#2 Physicians Park Dr., LLC
40.
HC-6160 S. Fort Apache Road, LLC
41.
HC-52 North Pecos Road, LLC
42.
HC-187 Skylar Drive, LLC
43.
HC-860 Parkview Drive North, Units A&B, LLC
44.
HC-6310 Health Pkwy., Units 100&200, LLC
45.
HCP-PAM Warm Springs, LLC
46.
HC-239 S. Mountain Boulevard, LP