EX-10.66



 Exhibit 10.66 

NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT
TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE NUMBER. 

NOTICE: THIS INSTRUMENT SECURES, INTER ALIA, OBLIGATIONS THAT PROVIDE FOR A VARIABLE RATE OF INTEREST AND OBLIGATORY FUTURE ADVANCES. ALL SUCH OBLIGATORY
FUTURE ADVANCES SHALL HAVE THE SAME LIEN PRIORITY AS IF MADE ON THE DATE HEREOF. [SEE THE FOLLOWING DEED OF TRUST FOR PARTICULARS.] 

HC-5101 MEDICAL DRIVE, LLC, 

a Delaware limited liability company, 

as Grantor 
 to 

GARY S. FARMER, 
 as Trustee

 for the benefit of 

KEYBANK NATIONAL ASSOCIATION, 

a national banking association, 
 as
Agent, 
 as Beneficiary 

LEASEHOLD DEED OF TRUST, SECURITY AGREEMENT AND ASSIGNMENT OF LEASES AND RENTS 

Dated:
                         As of November 27, 2013 

Property Address:       5101 Medical Drive 

                     
               San Antonio, Texas 
 Location:
                    Bexar County, Texas 

WHEN RECORDED, RETURN TO: 
 McKenna
Long & Aldridge LLP 
 303 Peachtree Street, N.E., Suite 5300 

Atlanta, Georgia 30308 
 Attention:
William F. Timmons, Esq. 
 ATTENTION: COUNTY CLERK – THIS INSTRUMENT COVERS GOODS THAT ARE OR ARE TO BECOME FIXTURES ON THE REAL
PROPERTY DESCRIBED HEREIN AND IS TO BE FILED FOR RECORD IN THE RECORDS WHERE DEEDS OF TRUST ON REAL ESTATE ARE RECORDED. ADDITIONALLY, THIS INSTRUMENT SHOULD BE APPROPRIATELY INDEXED, NOT ONLY AS A DEED OF TRUST, BUT ALSO AS A FINANCING STATEMENT
COVERING GOODS THAT ARE OR ARE TO BECOME FIXTURES ON THE REAL PROPERTY DESCRIBED HEREIN. THE MAILING ADDRESSES OF GRANTOR (DEBTOR) AND AGENT (SECURED PARTY) ARE SET FORTH IN THIS INSTRUMENT. THIS DOCUMENT SERVES AS A FIXTURE FILING UNDER
SECTION 9.502 OF THE TEXAS BUSINESS AND COMMERCE CODE. 
 Grantor’s Organizational Identification Number: 5412317. 







 THIS LEASEHOLD DEED OF TRUST, SECURITY AGREEMENT AND ASSIGNMENT OF LEASES AND RENTS (this
“Instrument”) is made and entered into as of this 27th day of November, 2013, by and among HC-5101 MEDICAL DRIVE, LLC, a Delaware limited liability company
(“Grantor”), having a mailing address of 4211 W. Boy Scout Boulevard, Tampa, Florida 33607, GARY S. FARMER, as trustee (“Trustee”), having a business address of c/o Heritage Title Company of Austin, Inc., 401
Congress Avenue, Suite 1500, Austin, Texas 78701, and KEYBANK NATIONAL ASSOCIATION, a national banking association (“KeyBank”), having a mailing address of 4910 Tiedeman Road, 3rd Floor, Brooklyn, Ohio 44144, Attn: Real
Estate Capital Services, with a copy to KeyBank National Association, 1200 Abernathy Road, N.E., Suite 1550, Atlanta, Georgia 30328, Attn: Daniel Stegemoeller, as Agent (KeyBank, in its capacity as Agent, is hereinafter referred to as
“Agent”) for itself and each other lender (collectively, the “Lenders”) which is or may hereafter become a party to that certain First Amended and Restated Credit Agreement, dated as of November 19, 2012, by and among
Carter/Validus Operating Partnership, LP, a Delaware limited partnership (“Borrower”), KeyBank, as Agent and the Lenders, as amended by that certain First Amendment to First Amended and Restated Credit Agreement and Amendment to
Unconditional Guaranty of Payment and Performance, dated as of March 15, 2013 (the “March 15 Amendment”), that certain Second Amendment to First Amended and Restated Credit Agreement dated as of June 11, 2013 and that
certain Third Amendment to First Amended and Restated Credit Agreement and Amendment to Other Loan Documents, dated as of August 9, 2013 (the “August 9 Amendment”) (as the same may be further varied, amended, restated, renewed,
consolidated, extended or otherwise supplemented from time to time, the “Credit Agreement”). Capitalized terms used herein that are not otherwise defined herein shall have the meanings set forth in the Credit Agreement. Grantor is a
Guarantor and will benefit from the Credit Agreement, as more fully set forth in the Guaranty (as hereinafter defined) executed by Grantor, and is granting this Instrument in consideration for such benefit. 

W I T N E S S E T H: 

FOR AND IN CONSIDERATION of the sum of Ten and No/100 Dollars ($10.00) and other valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, and in order to secure the indebtedness and other obligations of Grantor and Borrower hereinafter set forth, Grantor does hereby GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER and SET OVER UNTO Trustee, with GENERAL
WARRANTY in trust WITH POWER OF SALE, for the benefit of Agent and for the ratable benefit of the Lenders and the holders of the Hedge Obligations, and their successors and assigns, all of Grantor’s right, title and interest in and to the
following described land and interests in land, estates, easements, rights, improvements, property, fixtures, equipment, furniture, furnishings, appliances, general intangibles, and appurtenances, whether now or hereafter existing or acquired
(collectively, the “Property”): 
 (a) The leasehold interests, leasehold estates and all right of Grantor (including
without limitation, all renewal or purchase options, if any) in and to all those tracts or parcels of land and easements more particularly described on Exhibit “A” attached hereto and by this reference made a part hereof (the
“Land”), created pursuant to that certain Lease Agreement dated as of February 17, 1987, between The San Antonio Medical Foundation, a Texas nonprofit corporation, as landlord (“Lessor”), and The Warm Springs
Rehabilitation Foundation, Inc., a Texas nonprofit corporation, as tenant, recorded in Volume 4070, Page 70 of the Official Public 

  
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Records of Bexar County, Texas, as amended by that certain First Amendment to Lease Agreement and Access Easement Agreement dated as of September 25, 2000 between Lessor and The Warm Springs
Rehabilitation Foundation, Inc., a Texas nonprofit corporation, recorded in Volume 8609, Page 1533 of the aforementioned records, as further amended by that certain Second Amendment to Lease Agreement and Access Easement Agreement dated as of
December 1, 2006 between Lessor and The Warm Springs Rehabilitation Foundation, Inc., a Texas nonprofit corporation, recorded as Document No. 20060297650 in the aforementioned records, as assigned by that certain Assignment and Assumption of
Ground Lease dated as of December 1, 2006 between The Warm Springs Rehabilitation Foundation, Inc., a Texas nonprofit corporation, as assignor, and MPT Of Warm Springs, L.P., a Delaware limited partnership, as assignee, recorded as Document No.
20060297650 in the aforementioned records, as affected by that certain Estoppel Certificate dated as of December 1, 2006 by Lessor, recorded as Document No. 20070080986 in the aforementioned records, as assigned by that certain Assignment and
Assumption of Ground Lease and Easement Agreement dated as of even date herewith between MPT of Warm Springs, L.P., a Delaware limited partnership, as assignor, and Post Acute Medical at San Antonio, LLC, a Delaware limited liability company, as
assignee, recorded on or about the date hereof in the aforementioned records, as assigned to Grantor pursuant to that certain Assignment and Assumption of Ground Lease Agreement dated as of even date herewith between Post Acute Medical at San
Antonio, LLC, a Delaware limited liability company, as assignor, and Grantor, as assignee, recorded on or about the date hereof in the aforementioned records, and as further amended by that certain Third Amendment to Lease Agreement and Access
Easement Agreement dated as of even date herewith between Lessor and Grantor, recorded on or about the date hereof in the aforementioned records (as the same may have been or may hereafter be assigned, amended, restated, replaced, supplemented or
otherwise modified from time to time, the “Ground Lease”), and all rights, benefits, privileges, and interests of Grantor in and to the Ground Lease and all modifications, extensions, renewals, and replacements thereof, and all
deposits, credits, options, privileges, and rights of Grantor as tenant under the Ground Lease, together with all of the easements, rights, privileges, franchises, tenements, hereditaments and appurtenances now or hereafter thereunto belonging or in
any way appertaining thereto, and all of the estate, right, title, interest, claim and demand whatsoever of Grantor therein or thereto, either at law or in equity, in possession or in expectancy, now or hereafter acquired including, but not limited
to, the right, if any, to renew or extend the Ground Lease for a succeeding term or terms, and also including all the right, title, claim or demand whatsoever of Grantor either in law or in equity, in possession or expectancy, of, in and to
Grantor’s right, as tenant under the Ground Lease, to elect under Section 365(h)(1) of Title 11 U.S.C.A. §101 et seq. and the regulations adopted and promulgated thereto (as the same may be amended from time to time, the
“Bankruptcy Code”) or any other creditors rights law to terminate or treat the Ground Lease as terminated or to consent to the transfer of the Lessor’s interest in the Land and the Improvements free and clear of the Ground
Lease under Section 363 of the Bankruptcy Code or under any other creditors rights law in the event (i) of any bankruptcy or other debtor relief proceeding of the Lessor, and (ii) (A) the rejection of the Ground Lease by such
Lessor, as debtor in possession, or by a trustee for such Lessor, pursuant to Section 365 of the Bankruptcy Code or under any other creditors rights law or (B) any attempt by such Lessor, as debtor in possession, or by a trustee for such
Lessor, to transfer such Lessor’s interest in the Land and the Improvements under Section 363 of the Bankruptcy Code or under any other creditors rights law. 

  
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 (b) All present and future buildings, structures, parking areas, annexations and improvements of
every nature whatsoever now or hereafter situated on the Land (hereinafter referred to as the “Improvements”) and all materials intended for construction, reconstruction, alteration and repairs of the Improvements now or hereafter
erected, all of which materials shall be deemed to be included within the Improvements immediately upon the delivery thereof to the Land, and all gas and electric fixtures, radiators, heaters, engines and machinery, boilers, ranges, elevators and
motors, plumbing and heating fixtures, incinerating, sprinkling, and waste removal systems, carpeting and other floor coverings, fire extinguishers and any other safety equipment required by governmental regulation or law, washers, dryers, water
heaters, mirrors, mantels, air conditioning apparatus, refrigerating plants, refrigerators, cooking apparatus and appurtenances, storm windows and doors, window and door screens, awnings and storm sashes, which are or shall be owned by Grantor and
attached to said Improvements and all other furnishings, furniture, glassware, tableware, uniforms, linen, drapes and curtains and related hardware and mounting devices, wall to wall carpeting, radios, lamps, telephone systems, televisions and
television systems, computer systems, guest ledgers, vehicles, fixtures, machinery, equipment, apparatus, appliances, books and records, chattels, inventory, accounts, farm products, consumer goods, general intangibles and personal property of every
kind and nature whatsoever now or hereafter owned by Grantor and located in, on or about, or used or intended to be used with or in connection with the use, operation or enjoyment of the Property, including all extensions, additions, improvements,
betterments, after-acquired property, renewals, replacements and substitutions, or proceeds from a permitted sale of any of the foregoing, together with the benefit of any deposits or payments now or hereafter made by Grantor or on behalf of
Grantor, all of which are hereby declared and shall be deemed to be fixtures and accessions to the Land and a part of the Property as between the parties hereto and all persons claiming by, through or under them, and which shall be deemed to be a
portion of the security for the indebtedness herein described and to be secured by this Instrument. 
 (c) All easements, access rights,
rights-of-way, strips and gores of land, vaults, streets, ways, alleys, passages, sewer rights, waters, water courses, water rights and powers, irrigation systems (including, without limitation, underground wiring, pipes, pumps and sprinkler heads),
minerals, flowers, plants, shrubs, crops, trees, timber, fences, signs, bridges, fountains, monuments and other emblements now or hereafter located on the Land or under or above the same or any part or parcel thereof, and all estates, rights,
titles, interests, privileges, liberties, servitudes, licenses, tenements, hereditaments and appurtenances, reversion and reversions, remainder and remainders, whatsoever, in any way belonging, relating or appertaining to the Land or any part
thereof, or which hereafter shall in any way belong, relate or be appurtenant thereto, whether now owned or hereafter acquired by Grantor. 

(d) All leases and all subleases, tenancies, occupancies and licenses, whether oral or written (collectively, the “Leases”),
and all income, rents, issues, profits, room rentals, transient or guest payments, fees, charges or other payments for the use or occupancy of rooms or other facilities, and revenues of the Property from time to time accruing (including, without
limitation, all payments under Leases, all guarantees of the foregoing or letters of credit relating to the foregoing, lease termination payments, proceeds of insurance, condemnation payments, tenant security, damage or other deposits whether held
by Grantor or in a trust account, all escrow agreements relating to any of the Leases, escrow funds, including, without limitation, any funds escrowed for tenant improvements, fees, charges, rents, license fees, accounts, royalties, security,


  
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damage or other deposits from time to time accruing, all payments under working interests, production payments, royalties, overriding royalties, operating interests, participating interest and
other such entitlements, and all the estate, right, title, interest, property, possession, claim and demand whatsoever at law, as well as in equity, of Grantor of, in and to the same (collectively, the “Revenues”); reserving only
the right to Grantor to collect the same (other than lease termination payments, insurance proceeds and condemnation payments) so long as no Event of Default has occurred and is continuing. 

(e) All insurance policies, building service, building maintenance, construction, development, management, indemnity, and other similar
agreements and contracts and subcontracts, written or oral, express or implied, now or hereafter entered into, arising or in any manner related to the purchase, construction, design, improvement, use, operation, ownership, occupation, enjoyment,
sale, conversion or other disposition (voluntary or involuntary) of the Property, or the buildings and improvements now or hereafter located thereon, or any other interest in the Property, or any combination thereof, franchise agreements, property
management agreements, cable television agreements, contracts for the purchase of supplies, telephone service agreements, yellow pages or other advertising agreements, sales contracts, construction contracts, architects agreements, general contract
agreements, design agreements, engineering agreements, technical service agreements, sewer and water and other utility agreements, service contracts, agreements relating to the collection of receivables or use of customer lists, all bookings and
reservations for space or facilities within the Property, all purchase options, option agreements, rights of first refusal, contract deposits, earnest money deposits, prepaid items and payments due and to become due thereunder, and further including
all payment and performance bonds, labor, deposits, assurances, construction guaranties, guaranties, warranties, indemnities and other undertakings, architectural plans and specifications, drawings, surveys, soil reports, engineering reports,
inspection reports, environmental audits and other technical descriptions and reports relating to the Property, renderings and models, permits, consents, approvals, licenses, variances, agreements, contracts, building permits, purchase orders and
equipment leases, personal property leases, and all causes of action relating thereto. 
 (f) All deposit accounts, instruments, accounts
receivable, documents, causes of action, claims, names by which the Property or the improvements thereon may be operated or known, all rights to carry on business under such names, all telephone numbers or listings, all rights, interest and
privileges of which Grantor may have in any capacity under any covenants, restrictions or declarations now or hereafter relating to the Property or the Improvements, and all notes or chattel paper now or hereafter arising from or by virtue of any
transactions relating to the Property or the Improvements located thereon and all customer lists, other lists, and business information relating in any way to the Property or the Improvements or the use thereof, whether now owned or hereafter
acquired; 
 (g) All assets related to the ownership or operation of the Property or the Improvements now or hereafter erected thereon,
including, without limitation, accounts (including, without limitation, health-care-insurance receivables), chattel paper (whether tangible or electronic), deposit accounts, documents, general intangibles (including, without limitation, payment
intangibles, and all current and after acquired copyrights, copyright rights, advertising materials, web sites, and web pages, software and software licenses, trademarks and service marks, trademark rights, trademark applications, service mark
rights, service mark applications, 

  
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trade dress rights, company names, logos, and all domain names, owned or used in connection with the Grantor’s business, and in each case all goodwill associated therewith), goods
(including, without limitation, inventory, property, possessions, equipment, fixtures and accessions), instruments (including, without limitation, promissory notes), investment property, letter-of-credit rights, letters of credit, money, supporting
obligations, as-extracted collateral, timber to be cut and all proceeds and products of anything described or referred to above in this Subsection (g), in each case as such terms are defined under the Uniform Commercial Code as in effect in the
applicable jurisdiction. 
 (h) All cash funds, deposit accounts and other rights and evidence of rights to cash, now or hereafter created or
held by Trustee or Agent pursuant to this Instrument, the Credit Agreement or any other of the Loan Documents. 
 (i) All proceeds, products,
substitutions and accessions of the foregoing of every type. 
 TO HAVE AND TO HOLD the Property and all parts, rights, members and
appurtenances thereof, to the Trustee, for the use, benefit and behoof of Agent for the ratable benefit of the Lenders and the holders of the Hedge Obligations and their respective successors and assigns, IN FEE SIMPLE forever; and Grantor covenants
that Grantor is lawfully seized and possessed of the Property as aforesaid, and has good right to convey its indefeasible leasehold interest in the Land, that the same is unencumbered except for those matters expressly set forth in Exhibit
“B” attached hereto and by this reference made a part hereof (the “Permitted Encumbrances”), and that Grantor does warrant and will forever defend the title thereto against the claims of all persons whomsoever, except
as to those matters set forth in said Exhibit “B” attached hereto, or otherwise specifically approved by Agent in writing after the date hereof. 

IN TRUST NEVERTHELESS to secure the following described obligations (collectively, the “Secured Obligations”): 

(a) The debt evidenced by (i) those certain Amended and Restated Term Loan Notes made by Borrower in the aggregate principal amount of
Fifty-Five Million and No/100 Dollars ($55,000,000.00) to the order of the Term Loan Lenders, each of which has been issued pursuant to the Credit Agreement and is due and payable in full on or before August 9, 2017, unless extended as provided
in the Credit Agreement, and which evidence a term loan in the initial principal amount of up to $55,000,000.00 which may be increased pursuant to Section 2.11 of the Credit Agreement, (ii) those certain Amended and Restated Revolving
Credit Notes made by Borrower in the aggregate principal amount of One Hundred Seventy Million and No/100 Dollars ($170,000,000.00) to the order of the Revolving Credit Lenders, each of which has been issued pursuant to the Credit Agreement and is
due and payable in full on or before August 9, 2016, unless extended as provided in the Credit Agreement, and which evidence a revolving credit loan in the initial principal amount of up to $170,000,000.00 which may be increased pursuant to
Section 2.11 of the Credit Agreement, (iii) that certain Amended and Restated Swing Loan Note made by Borrower in the principal amount of Ten Million and No/100 Dollars ($10,000,000.00) to the order of KeyBank, which has been issued
pursuant to the Credit Agreement and is due and payable in full on or before August 9, 2016, unless extended as provided in the Credit Agreement, and which evidences a swing loan in the initial principal


  
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amount of up to $10,000,000.00, and (iv) each other note as may be issued under the Credit Agreement, including, without limitation, to reflect any increase of the term loan described herein
(which is due and payable on or before August 9, 2017, unless extended as provided in the Credit Agreement), the revolving credit loan or the swing loan described herein (each of which is due and payable on or before August 9, 2016, unless
extended as provided in the Credit Agreement), each as originally executed, or if varied, extended, supplemented, consolidated, amended, replaced, renewed, modified or restated from time to time as so varied, extended, supplemented, consolidated,
amended, replaced, renewed, modified or restated; provided, however, that the maximum principal indebtedness under the promissory notes described in clauses (i) through (iv) above shall not exceed the aggregate amount of Three Hundred
Fifty Million and no/100 Dollars ($350,000,000.00) (collectively, the “Note”); 
 (b) The payment, performance and discharge of
each and every obligation, covenant and agreement of Grantor contained herein or of Grantor contained in that certain Unconditional Guaranty of Payment and Performance by Grantor and others in favor of KeyBank, as Agent for itself and each other
Lender, dated as of March 30, 2012, as amended by that certain First Amendment to Unconditional Guaranty of Payment and Performance, dated as of June 29, 2012, that certain Second Amendment to Unconditional Guaranty of Payment and
Performance dated as of July 19, 2012, that certain Omnibus Amendment of Loan Documents dated as of November 19, 2012, the March 15 Amendment and the August 9 Amendment (as amended, restated, modified, renewed, supplemented or
extended from time to time, the “Guaranty”), of Borrower contained in the Credit Agreement, and of Grantor and Borrower in the other Loan Documents, including, without limitation, the obligation of Borrower to reimburse Issuing Lender for
any draws under the Letters of Credit; 
 (c) Any and all additional advances made by Agent or any Lender to protect or preserve the Property
or the lien and security title hereof in and to the Property, or for taxes, assessments or insurance premiums as hereinafter provided (whether or not Grantor is the owner of the Property at the time of such advances); 

(d) The payment, performance and discharge of each and all of the Hedge Obligations (as defined in the Credit Agreement); 

(e) Any and all other indebtedness now or hereafter owing by Borrower to Agent or any Lender pursuant to the terms of the Credit Agreement,
whether now existing or hereafter arising or incurred, however evidenced or incurred, whether express or implied, direct or indirect, absolute or contingent, due or to become due, including, without limitation, all principal, interest, fees,
expenses, yield maintenance amounts and indemnification amounts, and all renewals, modifications, consolidations, replacements and extensions thereof; and 

(f) All costs and expenses incurred by the Trustee, Agent, the Lenders and the holders of the Hedge Obligations in connection with the
enforcement and collection of the Secured Obligations, including, without limitation, all attorneys’ fees and disbursements, and all other such costs and expenses described in and incurred pursuant to the Note, the Credit Agreement, the
Guaranty, this Instrument, and the other Loan Documents and the agreements evidencing or relating to the Hedge Obligations (the “Hedge Documents”) (collectively, the “Enforcement Costs”). 

  
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 Notwithstanding anything to the contrary contained herein, under no circumstances shall the
Secured Obligations include any obligation that constitutes an Excluded Hedge Obligation (as defined in the Credit Agreement) of the Grantor. Subject to Section 2.22 hereof, should the Secured Obligations secured by this Instrument be paid and
performed according to the terms and effect thereof when the same shall become due and payable, and should Grantor perform all covenants contained herein in a timely manner and the obligation of the Lenders to make Loans and issue Letters of Credit
under the Credit Agreement has terminated, then this Instrument shall be released. 
 Grantor hereby further covenants and agrees with
Trustee and Agent as follows: 
 ARTICLE 1 

1.01 Payment of Secured Obligations. Grantor will pay and perform or cause to be paid and performed the Secured Obligations according
to the tenor thereof and all other sums now or hereafter secured hereby as the same shall become due. 
 1.02 Funds for Impositions.
After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until
the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become
due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the
insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by
Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by
Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the
items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions
with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage
of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at
Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary
by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and
performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor any Funds then held by Agent. 

  
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 1.03 Impositions, Liens and Charges. Grantor shall pay all Impositions and other charges,
if any, attributable to the Property prior to delinquency, and at Agent’s option during the continuance of an Event of Default, Grantor shall pay in the manner hereafter provided under this Section 1.03. Grantor shall, during continuance
of an Event of Default, furnish to Agent all bills and notices of amounts due under Section 1.03 as soon as received, and in the event Grantor shall make payment directly, Grantor shall, as and when available, furnish to Agent receipts
evidencing such payments prior to the dates on which such payments are delinquent, subject to Grantor’s right to contest taxes, assessments and other governmental charges as provided in the Credit Agreement. Grantor shall promptly discharge (by
bonding, payment or otherwise) any lien filed against the Property or Grantor (including federal tax liens) and will keep and maintain the Property free from the claims of all persons supplying labor or materials to the Property, subject to
Grantor’s right to contest the same as provided in the Credit Agreement. Grantor shall not claim or be entitled to any credit against the taxable value of the Property by reason of this Instrument, or any deduction in or credit on the Secured
Obligations by reason of Impositions paid. 
 1.04 Taxes, Liens and Other Charges. 

(a) In the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date
hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds of trust or the manner of collecting taxes so as to adversely affect Agent or the Lenders, Grantor will promptly pay any such tax. If
Grantor fails to make such payment promptly, or if, in the opinion of Agent, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Grantor from making such payment or would penalize Agent or the Lenders
if Grantor makes such payment or if, in the opinion of Agent, the making of such payment could reasonably result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire balance of the principal sums
secured by this Instrument and all interest accrued thereon shall, at the option of Agent, become immediately due and payable. 
 (b) Grantor
will pay all taxes, liens, assessments and charges of every character including all utility charges, whether public or private, already levied or assessed or that may hereafter be levied or assessed upon or against the Property as required under the
Credit Agreement. 
 1.05 Insurance. 

Grantor shall procure for, deliver to and maintain for the benefit of Agent and Lenders the insurance policies described in the Credit
Agreement. Grantor shall pay all premiums on such insurance policies. All proceeds of any property or casualty insurance or awards of damages on account of any taking or condemnation for public use of or injury to the Property are hereby assigned
and shall be paid to Agent, for the benefit of the Lenders, subject to Borrower’s and Grantor’s right to adjust certain claims and use such proceeds as provided in the Credit Agreement. Any such proceeds shall be released and advanced to
Borrower or Grantor in 

  
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accordance with and subject to the requirements of the Credit Agreement and be applied to the cost of repairing or restoring the Property or the remaining portion of the Property, with any
balance remaining to be applied in accordance with the terms and provisions of the Credit Agreement. In the event of a foreclosure sale of all or any part of the Property pursuant to the enforcement of this Instrument, the purchaser of such Property
shall succeed to all rights of Grantor, including any rights to the proceeds of insurance and to unearned premiums, in and to all of the policies of insurance. In the event of a foreclosure sale, Agent is hereby authorized, without the further
consent of Grantor, to take such steps as Agent may deem advisable to cause the interest of such purchaser to be protected by any of such policies. In case of Grantor’s failure to keep the Property properly insured as required herein, Agent,
after notice to Grantor, at its option may (but shall not be required to) acquire such insurance as required herein at Borrower’s and Grantor’s sole expense. TEXAS FINANCE CODE SECTION 307.052 COLLATERAL PROTECTION INSURANCE
NOTICE: (A) GRANTOR IS REQUIRED TO (i) KEEP THE PROPERTY INSURED AGAINST DAMAGE IN THE AMOUNT SPECIFIED IN THE CREDIT AGREEMENT; (ii) PURCHASE THE INSURANCE FROM AN INSURER THAT IS AUTHORIZED TO DO BUSINESS IN THE STATE OF TEXAS OR AN
ELIGIBLE SURPLUS LINES INSURER OR OTHERWISE AS PROVIDED IN THE CREDIT AGREEMENT; AND (iii) NAME AGENT AS THE PERSON TO BE PAID UNDER THE POLICY IN THE EVENT OF A LOSS AS PROVIDED IN THE CREDIT AGREEMENT; (B) SUBJECT TO THE PROVISIONS
HEREOF AND OF THE CREDIT AGREEMENT, GRANTOR MUST, IF REQUIRED BY AGENT, DELIVER TO AGENT A COPY OF THE POLICY AND PROOF OF THE PAYMENT OF PREMIUMS; AND (C) SUBJECT TO THE PROVISIONS HEREOF AND OF THE CREDIT AGREEMENT, IF GRANTOR FAILS TO MEET
ANY REQUIREMENT LISTED IN THE FOREGOING SUBPARTS (A) OR (B), AGENT MAY OBTAIN COLLATERAL PROTECTION INSURANCE ON BEHALF OF GRANTOR AT BORROWER’S AND GRANTOR’S EXPENSE. 

1.06 Condemnation. If all or any portion of the Property shall be damaged or taken through condemnation (which term when used in this
Instrument shall include any damage or taking by any governmental authority or any transfer by private sale in lieu thereof), either temporarily or permanently, then all compensation, awards and other payments or relief thereof, shall be paid and
applied in accordance with terms and provisions of the Credit Agreement. 
 1.07 Care, Use and Management of Property. 

(a) Grantor will keep, or cause to be kept, the roads and walkways, landscaping and all other Improvements of any kind now or hereafter erected
on the Land or any part thereof in good condition and repair, will not commit or suffer any waste, impairment or deterioration (ordinary wear and tear excepted) and will not do or suffer to be done anything which will increase the risk of fire or
other hazard to the Property or any part thereof. 
 (b) Grantor will not remove or demolish nor alter the structural character of any
building located on the Land or any fixtures or personal property relating thereto except when incidental to the replacement of fixtures and personal property with items of like kind and value or customary tenant improvements pursuant to Leases
approved or deemed approved pursuant to the Credit Agreement. 

  
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 (c) If the Property or any part thereof is materially damaged by fire or any other cause, Grantor
will give immediate written notice thereof to Agent. 
 (d) Grantor will promptly comply with all present and future laws, ordinances, rules
and regulations of any governmental authority, all restrictive covenants and other agreements affecting the Property or relating to the operation thereof affecting the Property or any part thereof and all licenses or permits affecting the Property
or any part thereof, subject to Grantor’s right to contest the same as provided in the Credit Agreement. 
 (e) Grantor shall keep the
Property, including the Improvements and the Personal Property (as hereinafter defined), in good order, repair and tenantable condition and shall replace fixtures, equipment, machinery and appliances on the Property when necessary to keep such items
in good order, repair, and tenantable condition (ordinary wear and tear excepted). 
 (f) Grantor shall keep all franchises, trademarks,
trade names, service marks and licenses and permits necessary for the Grantor’s use and occupancy of the Property in good standing and in full force and effect. 

(g) Unless required by applicable law or unless Agent has otherwise agreed in writing, Grantor shall not allow changes in the nature of the
occupancy or use for which the Property was intended at the time this Instrument was executed. Grantor shall not abandon the Property. Grantor shall not initiate, fail to contest or acquiesce in a change in the zoning classification of the Property
or subject the Property to restrictive or negative covenants without Agent’s written consent. Grantor shall comply with, observe and perform all zoning and other laws affecting the Property, all agreements and restrictive covenants affecting
the Property, and all licenses and permits affecting the Property, subject to Grantor’s right to contest compliance with laws to the extent permitted in the Credit Agreement. 

(h) To the extent permitted under the terms of the applicable Leases, Agent may, at Grantor’s expense, make or cause to be made reasonable
entries upon and inspections of the Property as permitted in the Credit Agreement during normal business hours and upon reasonable advance notice, or at any other time when necessary or appropriate in an emergency circumstance or during the
continuance of an Event of Default, in the sole reasonable discretion of Agent, to protect or preserve the Property. 
 (i) If all or any
part of the Property shall be damaged by fire or other casualty or loss, then, subject to the provisions of the Credit Agreement, Grantor will promptly restore the Property to the equivalent of its original condition; and if a part of the Property
shall be damaged through condemnation, Grantor will promptly restore, repair or alter the remaining portions of the Property in a manner satisfactory to Agent. Notwithstanding the foregoing, Grantor shall not be obligated to so restore unless, in
each instance, Agent agrees to make available to Grantor (subject to the terms of the Credit Agreement) any net insurance or condemnation proceeds actually received by Agent hereunder in connection with such casualty loss or condemnation, to the
extent such proceeds are required to defray the expense of such restoration; provided, however, that, subject to the provisions of the Credit Agreement, the insufficiency of any such insurance or condemnation proceeds to defray the entire expense of
restoration shall in no way relieve Grantor of its obligation to restore. 

  
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 (j) Grantor shall pay all normal and customary operating expenses for the Property as the same
become due. 
 1.08 Leases and other Agreements Affecting Property. 

(a) As additional security for the Secured Obligations, Grantor presently and unconditionally assigns and transfers to Agent all of
Grantor’s right, title and interest in and to the Leases and the Revenues, including those now due, past due or to become due by virtue of any of the Leases for the occupancy or use of all or any part of the Property. Grantor hereby authorizes
Agent or Agent’s agents to collect the Revenues and hereby directs such tenants, lessees and licensees of the Property to pay the Revenues to Agent or Agent’s agents; provided, however, Grantor shall have a license (revocable upon the
occurrence and during the continuance of an Event of Default) to collect and receive the Revenues. Grantor agrees that each and every tenant, lessee and licensee of the Property may pay, and hereby irrevocably authorizes and directs each and every
tenant, lessee and licensee of the Property to pay, the Revenues to Agent or Agent’s agents on Agent’s written demand therefor (which demand may be made by Agent at any time after the occurrence and during the continuance of an Event of
Default) without any obligation on the part of said tenant, lessee or licensee to inquire as to the existence of an Event of Default and notwithstanding any notice or claim of Grantor to the contrary, and Grantor agrees that Grantor shall have no
right or claim against said tenant, lessee or licensee for or by reason of any Revenues paid to Agent following receipt of such written demand. 

(b) Grantor hereby covenants that Grantor has not executed any prior assignment of the Leases or the Revenues, that Grantor has not performed,
and will not perform, any acts and has not executed, and will not execute, any instruments which would prevent Agent from exercising the rights of the beneficiary of this Instrument, and that at the time of execution of this Instrument, there has
been no anticipation or prepayment of any of the Revenues for more than one (1) month prior to the due dates of such Revenues. Grantor further covenants that Grantor will not hereafter collect or accept payment of any Revenues more than one
(1) month prior to the due dates of such Revenues. 
 (c) Grantor agrees that neither the foregoing assignment of Leases and Revenues
nor the exercise of any of Agent’s rights and remedies under this Section or Article 2 hereof shall be deemed to make Agent a mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Leases, the Property or
the use, occupancy, enjoyment or operation of all or any portion thereof, unless and until Agent, in person or by agent, assumes actual possession thereof. Grantor further agrees that the appointment of any receiver for the Property by any court at
the request of Agent or by agreement with Grantor, or the entering into possession of any part of the Property by such receiver, shall not be deemed to make Agent a
mortgagee-in-possession or otherwise responsible or liable in any manner with respect to the Leases, the Property or the use, occupancy, enjoyment or operation of all or
any portion thereof. 

  
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 (d) If Agent exercises its rights and remedies pursuant to this Section or Article 2 hereof, all
Revenues thereafter collected shall be applied in such order as Agent may elect in its discretion to the reasonable costs of taking control of and managing the Property and collecting the Revenues, including, but not limited to, reasonable
attorneys’ fees actually incurred, fees, receiver fees, premiums on receiver’s bonds, costs of repairs to the Property, premiums on insurance policies, Impositions and other charges on the Property, and the costs of discharging any
obligation or liability of Grantor as landlord, lessor or licensor of the Property, or to the Secured Obligations. Agent or any receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be
liable to account only for those Revenues actually received. Agent shall not be liable to Grantor, anyone claiming under or through Grantor or anyone having an interest in the Property by reason of anything done or left undone by Agent pursuant to
this Section or Article 2 hereof, except in the event of Agent’s gross negligence or willful misconduct. If the Revenues are not sufficient to meet the costs of taking control of and managing the Property and collecting the Revenues, any monies
reasonably expended by Agent for such purposes shall become a portion of the Secured Obligations. Unless Agent and Grantor agree in writing to other terms of payment, such amounts shall be payable upon notice from Agent to Grantor requesting payment
thereof and shall bear interest from the date of disbursement at the Default Rate stated in the Credit Agreement unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the
highest rate which may be collected from Grantor under applicable law. The entering upon and taking possession of and maintaining of control of the Property by Agent or any receiver and the application of Revenues as provided herein shall not cure
or waive any Event of Default or invalidate any other right or remedy of Agent hereunder. 
 (e) It is the intention of Agent and Grantor
that the assignment effectuated by this Instrument with respect to the Revenues shall be a direct and currently effective assignment and shall not constitute merely an obligation to grant a lien, security interest or pledge for the purpose of
securing the Secured Obligations. 
 (f) In the event that a court of competent jurisdiction determines that, notwithstanding such expressed
intent of the parties, Agent’s interest in the Revenues constitutes a lien on or security interest in or pledge of the Revenues, it is agreed and understood that the forwarding of a notice to Borrower after the occurrence of an Event of Default
advising Borrower of the revocation of Borrower’s license to collect such Revenues, shall be sufficient action by Agent to (i) perfect such lien on or security interest in or pledge of the Revenues, (ii) take possession thereof and
(iii) entitle Agent to immediate and direct payment of the Revenues, for application as provided in this Instrument, all without the necessity of any further action by Agent, including, without limitation, any action to obtain possession of the
Land, Improvements or any other portion of the Property. 
 1.09 Leases of the Property. 

(a) Except as permitted in the Credit Agreement, Grantor shall not enter into any Lease of all or any portion of the Property or amend,
supplement or otherwise modify, or terminate or cancel, or accept the surrender of, or consent to the assignment or subletting of, or grant any concessions to or waive the performance of any obligations of any tenant, lessee or licensee under, any
now existing or future Lease of the Property, without the prior written consent of Agent. Grantor, at Agent’s request, shall furnish Agent with executed copies of all Leases hereafter made of all or any part of the Property. Upon Agent’s
request, Grantor shall make a separate and distinct assignment to Agent, as additional security, of all Leases hereafter made of all or any part of the Property. 

  
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 (b) There shall be no merger of the leasehold estates created by the Leases with the fee estate
or the leasehold estate of the Land without the prior written consent of Agent. Agent may at any time and from time to time by specific written instrument intended for the purpose, unilaterally subordinate the lien of this Instrument to any Lease,
without joinder or consent of, or notice to, Grantor, any tenant or any other Person, and notice is hereby given to each tenant under a Lease of such right to subordinate. No such subordination shall constitute a subordination to any lien or other
encumbrance, whenever arising, or improve the right of any junior lienholder. Nothing herein shall be construed as subordinating this Instrument to any Lease. 

(c) Grantor hereby appoints Agent its attorney-in-fact, coupled with an interest, empowering Agent to subordinate this Instrument to any
Leases. 
 1.10 Security Agreement. 

(a) Insofar as the machinery, apparatus, equipment, fittings, fixtures, building supplies and materials, general intangibles and articles of
personal property either referred to or described in this Instrument, or in any way connected with the use and enjoyment of the Property is concerned, Grantor grants unto Agent a security interest therein and this Instrument is hereby made and
declared to be a security agreement, encumbering each and every item of personal property (the “Personal Property”) included herein, in compliance with the provisions of the Uniform Commercial Code as enacted in the applicable
jurisdiction as set forth in Section 3.04 below (the “UCC”). Any notification required by the UCC shall be deemed reasonably and properly given if sent in accordance with the notice provisions of this Instrument at least ten
(10) days before any sale or other disposition of the Personal Property. Disposition of the Personal Property shall be deemed commercially reasonable if made pursuant to a public sale advertised at least twice in a newspaper of general
circulation in the community where the Property is located. It shall be deemed commercially reasonable for the Trustee and/or Agent to dispose of the Personal Property without giving any warranties as to the Personal Property and specifically
disclaiming all disposition warranties. A financing statement or statements affecting all of said personal property aforementioned, shall be appropriately filed. The remedies for any violation of the covenants, terms and conditions of the security
agreement herein contained shall be (i) as prescribed herein with respect to the Property, or (ii) as prescribed by general law, or (iii) as prescribed by the specific statutory consequences now or hereafter enacted and specified in
said UCC, all at Agent’s sole election. Grantor and Agent agree that the filing of such financing statement(s) in the records normally having to do with personal property shall never be construed as in any way derogating from or impairing this
declaration and hereby stated intention of Grantor and Agent that everything used in connection with the production of income from the Property and/or adapted for use therein and/or which is described or reflected in this Instrument, is to the full
extent provided by law, and at all times and for all purposes and in all proceedings both legal or equitable shall be, regarded as part of the real estate irrespective of whether (i) any such item is physically attached to the Improvements,
(ii) serial numbers are used for the better identification of certain items capable of being thus identified in a recital contained herein, or (iii) any such item is referred to or reflected in any such financing statement(s) so filed at
any 

  
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time. Similarly, the mention in any such financing statement(s) of the rights in and to (1) the proceeds of any fire and/or hazard insurance policy, or (2) any award in eminent domain
proceedings for a taking or for loss of value, or (3) Grantor’s interest as lessor in any present or future lease or rights to income growing out of the use and/or occupancy of the Property, whether pursuant to lease or otherwise, shall
never be construed as in any way altering any of the rights of Agent as determined by this Instrument, subject to the provisions of the Credit Agreement, or impugning the priority of Agent’s lien granted hereby or by any other recorded
document, but such mention in such financing statement(s) is declared to be for the protection of Agent in the event any court shall at any time hold with respect to the foregoing (1), (2) or (3), that notice of Agent’s priority of
interest to be effective against a particular class of persons, must be filed in the UCC records. 
 (b) Grantor warrants that
(i) Grantor’s (that is, “Debtor’s”) correct legal name (including, without limitation, punctuation and spacing) indicated on the public record of Grantor’s jurisdiction of organization, identity or corporate structure,
residence or chief executive office and jurisdiction of organization are as set forth in Subsection 1.10(c) hereof; (ii) Grantor (that is, “Debtor”) has been using or operating under said name, identity or corporate structure
without change for the time period set forth in Subsection 1.10(c) hereof, and (iii) the location of the Personal Property secured by this Instrument is upon the Land (except that the books and records related to the Property may be stored
and maintained at another site). Grantor covenants and agrees that Grantor shall not change any of the matters addressed by clauses (i) or (iii) of this Subsection 1.10(b) unless it has given Agent thirty (30) days prior written
notice of any such change and has executed or authorized at the request of Agent such additional financing statements or other instruments in such jurisdictions as Agent may deem necessary or advisable in its sole discretion to prevent any filed
financing statement from becoming misleading or losing its perfected status. 
 (c) The information contained in this Subsection 1.10(c)
is provided in order that this Instrument shall comply with the requirements of the Uniform Commercial Code, as enacted in the State of Texas, for instruments to be filed as financing statements. The names of the “Debtor” and the
“Secured Party”, the identity or corporate structure, jurisdiction of organization, organizational number, federal tax identification number, and residence or chief executive office of “Debtor”, and the time period for which
“Debtor” has been using or operating under said name and identity or corporate structure without change, are as set forth in Schedule 1 of Exhibit “C” attached hereto and by this reference made a part hereof; the mailing
address of the “Secured Party” from which information concerning the security interest may be obtained, and the mailing address of “Debtor”, are as set forth in Schedule 2 of Exhibit “C” attached hereto; and
a statement indicating the types, or describing the items, of Personal Property secured by this Instrument is set forth hereinabove. 
 (d)
Exhibit “C” correctly sets forth all names and tradenames that Grantor has used within the last five years, and also correctly sets forth the locations of all of the chief executive offices of Grantor over the last five years. 

(e) The Grantor hereby covenants and agrees that: 

  
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 (1) Grantor shall not merge or consolidate into, or transfer any of the Property to, any other
person or entity except as permitted under the Credit Agreement. 
 (2) Grantor shall, at any time and from time to time, take such steps as
Agent may reasonably request for Agent (A) to obtain an acknowledgment, in form and substance reasonably satisfactory to Agent, of any bailee having possession of any of the Property, stating that the bailee holds possession of such Property on
behalf of Agent, (B) to obtain “control” of any investment property, deposit accounts, letter-of-credit rights, or electronic chattel paper (as such terms are defined by the UCC with corresponding provisions thereof defining what
constitutes “control” for such items of collateral), with any agreements establishing control to be in form and substance reasonably satisfactory to Agent, and (C) otherwise to insure the continued perfection and priority of the
Agent’s security interest in any of the Property and of the preservation of its rights therein. If Grantor shall at any time, acquire a “commercial tort claim” (as such term is defined in the UCC) with respect to the Property or any
portion thereof, Grantor shall promptly notify Agent thereof in writing, providing a reasonable description and summary thereof, and shall execute a supplement to this Instrument in form and substance acceptable to Agent granting a security interest
in such commercial tort claim to Agent. 
 (3) Grantor hereby authorizes Agent, its counsel or its representative, at any time and from time
to time, to file financing statements, amendments and continuations that describe or relate to the Property or any portion thereof in such jurisdictions as Agent may deem necessary or desirable in order to perfect the security interests granted by
Grantor under this Instrument or any other Loan Document, and such financing statements may contain, among other items as Agent may deem advisable to include therein, the federal tax identification number of Grantor. 

(4) Grantor shall not license, lease, sell or otherwise transfer any of the general intangibles to any third party during the term of this
Instrument and the Credit Agreement without the prior written consent of the Agent (which consent may be withheld in the Agent’s sole discretion); and the Grantor will continue to use all trademarks, service marks and trade names in a
consistent manner and shall take all steps necessary to properly maintain any formal registrations on the general intangibles, and to defend and enforce them, for the term of this Instrument and the Credit Agreement. 

1.11 Further Assurances; After-Acquired Property. At any time and from time to time, upon request by Agent, Grantor will make, execute
and deliver or cause to be made, executed and delivered, to Trustee and Agent and, where appropriate, cause to be recorded and/or filed and from time to time thereafter to be rerecorded and/or refiled at such time and in such offices and places as
shall be deemed desirable by Agent, any and all such other and further deeds of trust, security agreements, financing statements, notice filings, continuation statements, instruments of further assurance, certificates and other documents as may, in
the opinion of Agent, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve (a) the obligation of Grantor under the Guaranty, this Instrument, the other Loan Documents and the Hedge Documents and
(b) this Instrument as a first and prior lien upon and security interest in and to all of the Property, whether now owned or hereafter acquired by Grantor. Upon any failure by Grantor so to do, Agent may make, execute, record, file, re-record


  
 15 








 
and/or refile any and all such deeds of trust, security agreements, financing statements, continuation statements, instruments, certificates, and documents for and in the name of Grantor and
Grantor hereby irrevocably appoints Agent the agent and attorney-in-fact of Grantor so to do. The lien hereof will automatically attach, without further act, to all after acquired property attached to and/or used in the operation of the Property or
any part thereof. 
 1.12 Expenses. Grantor will pay or reimburse Agent, upon demand therefor, for all reasonable attorney’s
fees, costs and expenses incurred by Agent in any suit, action, legal proceeding or dispute of any kind in which Lenders, Agent, Trustee or the holders of the Hedge Obligations is made a party or appears as party plaintiff or defendant, affecting or
arising in connection with the Secured Obligations secured hereby, this Instrument or the interest created herein, or the Property, including, but not limited to, the exercise of the power of sale contained in this Instrument, any condemnation
action involving the Property or any action to protect the security hereof; and any such amounts paid by Lenders, Agent, the holders of the Hedge Obligations or the Trustee shall be added to the Secured Obligations secured by the lien of this
Instrument. 
 1.13 Subrogation. Agent shall be subrogated to the claims and liens of all parties whose claims or liens are discharged
or paid with the proceeds of the Secured Obligations secured hereby. 
 1.14 Limit of Validity. If from any circumstances whatsoever
fulfillment of any provision of this Instrument, the Guaranty, the Credit Agreement, the Note, any other Loan Document or any Hedge Document, at the time performance of such provision shall be due, shall be subject to the defense of usury or
otherwise transcend or violate applicable law concerning interest or other charges, then ipso facto the obligation to be fulfilled shall be reduced to the limit, so that in no event shall any exaction be possible under this Instrument, the Guaranty,
the Note, the Credit Agreement, any other Loan Document or any Hedge Document be subject to the defense of usury or otherwise transcend or violate applicable law concerning interest or other charges that is in excess of the current limit, but such
obligation shall be fulfilled to the maximum limit permitted. The provisions of this Section 1.14 shall control every other provision of this Instrument, the Guaranty, the Note, the Credit Agreement or any other Loan Document or any Hedge
Document. 
 1.15 Conveyance of Property. Grantor hereby acknowledges to Agent that (a) the identity and expertise of Grantor was
and continues to be a material circumstance upon which Agent has relied in connection with, and which constitute valuable consideration to Agent for, the extending to Borrower of the loans and other extensions of credit evidenced by the Note and
Credit Agreement, and (b) any change in such identity or expertise could materially impair or jeopardize the security for the payment of the Secured Obligations granted to Agent by this Instrument. Grantor therefore covenants and agrees with
Agent, as part of the consideration for the extending to Grantor of the loans evidenced by the Note, that Grantor shall not convey, transfer, assign, further encumber or pledge any or all of its interest in the Property except as permitted under the
Credit Agreement. 

  
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 ARTICLE 2 

2.01 Events of Default. The terms “Default” and “Event of Default” as used herein shall have the following
meanings: 
 “Default” shall mean any event which, with the giving of notice or the lapse of time, or both, would become an
Event of Default. 
 “Event of Default” shall mean (a) any default in the payment or performance of the obligations of
Grantor hereunder or of Borrower or any other Guarantor under any of the other Loan Documents when the same shall become due and payable which is not cured within any grace or notice and cure period provided in the Credit Agreement or such other
Loan Documents, if any, subject to any limitations in the Credit Agreement on the right of Grantor, Borrower or any other Guarantor to receive notices of default, or (b) any representation or warranty of Grantor hereunder proving to be false or
incorrect in any material respect upon the date when made or deemed to have been repeated, or (c) any default in the performance of the obligations of Grantor or Borrower or any other Person under any of the Security Documents beyond the
expiration of any applicable notice and cure period, (d) the occurrence of any “Event of Default” under the Credit Agreement or any other Loan Document, (e) any amendment to or termination of a financing statement naming Grantor
as debtor and Agent as secured party, or any correction statement with respect thereto, is filed in any jurisdiction by, or caused by, or at the instance of Grantor or by, or caused by, or at the instance of any principal, member, general partner or
officer of Grantor (collectively, “Grantor Party”) without the prior written consent of Agent; or (f) in the event that any amendment to or termination of a financing statement naming Grantor as debtor and Agent as secured party, or
any correction statement with respect thereto, is filed in any jurisdiction by any party other than a Grantor Party or Agent or Agent’s counsel without the prior written consent of Agent and Grantor fails to use its best efforts to cause the
effect of such filing to be completely nullified to the reasonable satisfaction of Agent within ten (10) days after notice to Grantor thereof. 

2.02 Acceleration of Maturity. If an Event of Default shall have occurred and be continuing, then the entire Secured Obligations
secured hereby shall, at the option of Agent and as permitted by the terms of the Credit Agreement, immediately become due and payable without notice or demand except as required by law, time being of the essence of this Instrument. 

2.03 Right to Enter and Take Possession. 

(a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual
possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the
appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor. 

  
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 (b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof
after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all
expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument. 

(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the
business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures,
personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with
respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and
receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including
compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such
insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the
attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any
tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be
liable to account for any such rents, issues, profits or revenues unless actually received by Agent. 
 (d) Whenever all that is due upon the
Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of
Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be
continuing. 
 2.04 Performance by Agent. If there shall be a Default or Event of Default in the payment, performance or observance
of any term, covenant or condition of this Instrument, Agent may, so long as such Default or Event of Default continues, at its option, pay, perform or observe the same, and all payments made or costs or expenses incurred by Agent in connection


  
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therewith, shall be secured hereby and shall be, upon demand, immediately repaid by Grantor to Agent with interest thereon at the Default Rate. Agent shall be the sole judge of the necessity for
any such actions and of the amounts to be paid. Agent is hereby empowered to enter and to authorize others to enter upon the Land or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without
thereby becoming liable to Grantor or any person in possession holding under Grantor. 
 2.05 Receiver. If an Event of Default shall
have occurred and be continuing, Agent, upon application to a court of competent jurisdiction, shall be entitled as a matter of strict right without regard to the occupancy or value of any security for the Secured Obligations secured hereby or the
solvency of any party bound for its payment, to the appointment of a receiver to take possession of and to operate the Property (or such portion or portions as Agent may select) and to collect and apply the rents, issues, profits and revenues
thereof. The receiver shall have all of the rights and powers permitted under the laws of the State of Texas. Grantor will pay to Agent upon demand all reasonable expenses, including receiver’s fees, attorney’s fees, costs and agent’s
compensation, incurred pursuant to the provisions of this Section 2.05, and all such expenses shall be secured by this Instrument. 

2.06 Enforcement. 
 (a) If
an Event of Default shall have occurred and be continuing, to the extent permitted by law, Agent, at its option, may effect the foreclosure of this Instrument by directing the Trustee to sell the Property (or such portion or portions thereof as the
Trustee may select) at public auction at such time and place and upon such terms and conditions as may be required or permitted by applicable law, after having first advertised the time, place and terms of sale not less than once a week for three
successive weeks in a newspaper having general circulation in the city or county in which the Land being sold lies. At any foreclosure sale, such portion of the Property as is offered for sale may, at the Trustee’s option, be offered for sale
for one total price, and the proceeds of such sale accounted for in one account without distinction between the items of security or without assigning to them any proportion of such proceeds, the Grantor hereby waiving the application of any
doctrine of marshalling. 
 (b) If an Event of Default shall have occurred and be continuing, Agent may, in addition to and not in abrogation
of the rights covered under subparagraph (a) of this Section 2.06, either with or without entry or taking possession as herein provided or otherwise, proceed by a suit or suits in law or in equity or by any other appropriate proceeding or
remedy (i) to enforce payment of the Secured Obligations or the performance of any term, covenant, condition or agreement of this Instrument or any other right, and (ii) to pursue any other remedy available to it, all as Agent shall
determine most effectual for such purposes. 
 2.07 Purchase by Agent. Upon any foreclosure sale, Agent, on behalf of the Lenders and
the holders of the Hedge Obligations, may bid for and purchase the Property and shall be entitled to apply all or any part of the Secured Obligations secured hereby as a credit to the purchase price. 

  
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 2.08 Application of Proceeds of Sale. The proceeds received by Agent as a result of the
foreclosure sale of the Property or the exercise of any other rights or remedies hereunder shall be applied in the manner provided for in Section 12.5 of the Credit Agreement. 

2.09 Grantor as Tenant Holding Over. In the event of any such foreclosure sale by Agent, Grantor shall be deemed a tenant holding over
and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to provisions of law applicable to tenants holding over. 

2.10 Waiver of Appraisement, Valuation, Stay, Extension and Redemption Laws. Grantor agrees, to the full extent permitted by law, that
in case of a Default or Event of Default, neither Grantor nor anyone claiming through or under it shall or will set up, claim or seek to take advantage of any appraisement, valuation, stay, extension, homestead, exemption or redemption laws now or
hereafter in force and Grantor, for itself and all who may at any time claim through or under it, hereby waives to the full extent that it may lawfully so do, the benefit of all such laws, and any and all right to have the assets comprised in the
security intended to be created hereby marshaled upon any foreclosure of the lien hereof. 
 2.11 Waiver of Homestead. Grantor hereby
waives and renounces all homestead and exemption rights provided for by the Constitution and the laws of the United States and of any state, in and to the Property as against the collection of the Secured Obligations, or any part hereof. 

2.12 Leases; Licensees. Agent, at its option, is authorized to foreclose this Instrument subject to the rights of any tenants and
licensees of the Property, and the failure to make any such tenants or licensees parties to any such foreclosure proceedings and to foreclose their rights will not be, nor be asserted by Grantor to be a defense to any proceedings instituted by Agent
to collect the sums secured hereby. 
 2.13 Discontinuance of Proceedings and Restoration of the Parties. In case Agent shall have
proceeded to enforce any right, power or remedy under this Instrument by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to Agent, then and in
every such case Grantor and Agent shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Agent shall continue as if no such proceeding had been taken. 

2.14 Remedies Cumulative. No right, power or remedy conferred upon or reserved to Agent by this Instrument is intended to be exclusive
of any other right, power or remedy, but each and every such right, power and remedy shall be cumulative and concurrent and may be exercised against Grantor as Agent may select and shall be in addition to any other right, power and remedy given
hereunder or now or hereafter existing at law or in equity or by statute. 
 2.15 Waiver. 

(a) No delay or omission of Agent, any Lender or any holder of the Hedge Obligations to exercise any right, power or remedy accruing upon any
Default or Event of Default shall exhaust or impair any such right, power or remedy or shall be construed to be a waiver of any such Default or Event of Default, or acquiescence therein; and every right, power


  
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and remedy given by this Instrument to Agent may be exercised from time to time and as often as may be deemed expedient by Agent. No consent or waiver, expressed or implied, by Agent to or of any
Default or Event of Default by Grantor in the performance of the obligations thereof hereunder shall be deemed or construed to be a consent or waiver to or of any other Default or Event of Default in the performance of the same or any other
obligations of Grantor hereunder. Failure on the part of Agent, the Lenders or any holder of the Hedge Obligations to complain of any act or failure to act or to declare a Default or Event of Default, irrespective of how long such failure continues,
shall not constitute a waiver by Agent, any Lender or any holder of the Hedge Obligations of its rights hereunder or impair any rights, powers or remedies consequent on any Default or Event of Default by Grantor. 

(b) If Lenders or Agent on behalf of the Lenders, or any holder of the Hedge Obligations (i) grant forbearance or an extension of time for
the payment of any sums secured hereby; (ii) take other or additional security for the payment of any sums secured hereby; (iii) waive or do not exercise any right granted herein or in the Note, the Credit Agreement, any other Loan
Document or any Hedge Document; (iv) release any part of the Property from the lien of this Instrument or otherwise change any of the terms, covenants, conditions or agreements of the Note, this Instrument, any other Loan Document or any Hedge
Document; (v) consent to the filing of any map, plat or replat affecting the Property; (vi) consent to the granting of any easement or other right affecting the Property; or (vii) make or consent to any agreement subordinating the
lien hereof, any such act or omission shall not release, discharge, modify, change or affect the original liability under the Note, the Credit Agreement, the Guaranty, this Instrument or any other obligation of Grantor, or any subsequent purchaser
of the Property or any part thereof, or any maker, co-signer, endorser, surety or guarantor; nor shall any such act or omission preclude Agent from exercising any right, power or privilege herein granted or
intended to be granted in the event of any Default then made or of any subsequent Default; nor, except as otherwise expressly provided in an instrument or instruments executed by Agent, shall the lien of this Instrument be altered thereby. In the
event of the sale or transfer by operation of law or otherwise of all or any part of the Property, Agent, without notice, is hereby authorized and empowered to deal with any such vendee or transferee with reference to the Property or the Secured
Obligations secured hereby, or with reference to any of the terms, covenants, conditions or agreements hereof, as fully and to the same extent as it might deal with the original parties hereto and without in any way releasing or discharging any
liabilities, obligations or undertakings. 
 2.16 Suits to Protect the Property. Agent shall have power (a) to institute and
maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Property by any acts which may be unlawful or in violation of this Instrument, (b) to preserve or protect its interest in the Property and in the
rents, issues, profits and revenues arising therefrom, and (c) to restrain the enforcement of or compliance with any legislation or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid, if the
enforcement of or compliance with such enactment, rule or order would impair the security hereunder or be prejudicial to the interest of Lenders or the holders of the Hedge Obligations. 

2.17 Agent May File Proofs of Claim. In the case of any receivership, insolvency, bankruptcy, reorganization, arrangement, adjustment,
composition or other proceedings affecting Grantor, its creditors or its property, Agent, to the extent permitted by law, shall be entitled to 

  
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file such proofs of claim and other documents as may be necessary or advisable in order to have the claims of Agent, Lenders and the holders of the Hedge Obligations allowed in such proceedings
for the entire amount due and payable by Grantor under this Instrument at the date of the institution of such proceedings and for any additional amount which may become due and payable by Grantor hereunder after such date. 

2.18 WAIVER OF GRANTOR’S RIGHTS. BY EXECUTION OF THIS INSTRUMENT, GRANTOR EXPRESSLY: (A) ACKNOWLEDGES THE RIGHT OF AGENT, THE
LENDERS AND/OR THE HOLDERS OF THE HEDGE OBLIGATIONS TO ACCELERATE THE SECURED OBLIGATIONS AND, TO THE EXTENT PERMITTED BY LAW, THE POWER OF AGENT TO CAUSE TRUSTEE TO SELL THE PROPERTY BY NONJUDICIAL FORECLOSURE UPON DEFAULT BY GRANTOR WITHOUT ANY
JUDICIAL HEARING AND WITHOUT ANY NOTICE OTHER THAN SUCH NOTICE (IF ANY) AS IS SPECIFICALLY REQUIRED TO BE GIVEN UNDER THE PROVISIONS OF THIS INSTRUMENT OR BY LAW; (B) TO THE FULL EXTENT PERMITTED BY LAW, WAIVES ANY AND ALL RIGHTS WHICH GRANTOR
MAY HAVE UNDER THE CONSTITUTION OF THE UNITED STATES (INCLUDING, WITHOUT LIMITATION, THE FIFTH AND FOURTEENTH AMENDMENTS THEREOF), THE VARIOUS PROVISIONS OF THE CONSTITUTIONS FOR THE SEVERAL STATES, OR BY REASON OF ANY OTHER APPLICABLE LAW, TO
NOTICE AND TO JUDICIAL HEARING PRIOR TO THE EXERCISE BY AGENT OF ANY RIGHT OR REMEDY HEREIN PROVIDED TO AGENT, EXCEPT SUCH NOTICE (IF ANY) AS IS SPECIFICALLY REQUIRED TO BE PROVIDED IN THIS INSTRUMENT OR BY APPLICABLE LAW; (C) ACKNOWLEDGES THAT
GRANTOR HAS READ THIS INSTRUMENT AND THE OTHER LOAN DOCUMENTS AND ANY AND ALL QUESTIONS REGARDING THE LEGAL EFFECT OF THIS INSTRUMENT AND THE OTHER LOAN DOCUMENTS AND THEIR PROVISIONS HAVE BEEN EXPLAINED FULLY TO GRANTOR AND GRANTOR HAS CONSULTED
WITH COUNSEL OF GRANTOR’S CHOICE PRIOR TO EXECUTING THIS INSTRUMENT; AND (D) ACKNOWLEDGES THAT ALL WAIVERS OF THE AFORESAID RIGHTS OF GRANTOR HAVE BEEN MADE KNOWINGLY, INTENTIONALLY AND WILLINGLY BY GRANTOR AS PART OF A BARGAINED FOR LOAN
TRANSACTION. 
 2.19 Claims Against Agent, Lenders and Holders of Hedge Obligations. No action at law or in equity shall be
commenced, or allegation made, or defense raised, by Grantor against Agent, the Lenders or any holder of the Hedge Obligations for any claim under or related to this Instrument, the Note, the Credit Agreement, the Guaranty or any other instrument,
document, transfer, conveyance, assignment or loan agreement given by Grantor with respect to the Secured Obligations secured hereby, or related to the conduct of the parties thereunder, unless written notice of such claim, expressly setting forth
the particulars of the claim alleged by Grantor, shall have been given to Agent within sixty (60) days from and after the initial awareness of Grantor of the event, omission or circumstances forming the basis of Grantor for such claim. Any
failure by Grantor to timely provide such written notice to Agent shall constitute a waiver by Grantor of such claim. 
 2.20
[Intentionally Omitted]. 
 2.21 Indemnification; Subrogation; Waiver of Offset. 

  
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 (a) Grantor shall indemnify, defend and hold Agent, the Lenders and the holders of the Hedge
Obligations harmless for, from and against any and all liability, obligations, losses, damages, penalties, claims, actions, suits, costs and expenses (including Agent’s reasonable attorneys’ fees, together with reasonable appellate counsel
fees, if any) of whatever kind or nature which may be asserted against, imposed on or incurred by Agent, or the Lenders or the holders of the Hedge Obligations in connection with the Secured Obligations, this Instrument, the Property, or any part
thereof, or the exercise by Agent of any rights or remedies granted to it under this Instrument; provided, however, that nothing herein shall be construed to obligate Grantor to indemnify, defend and hold harmless Agent, the Lenders or the holders
of the Hedge Obligations for, from and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, suits, costs and expenses asserted against, imposed on or incurred by Agent or a Lender by reason of such Person’s
willful misconduct or gross negligence if a judgment is entered against Agent, a Lender or a holder of a Hedge Obligation by a court of competent jurisdiction after the expiration of all applicable appeal periods. 

(b) If Agent, a Lender or a holder of a Hedge Obligation is made a party defendant to any litigation or any claim is threatened or brought
against Agent, a Lender or a holder of a Hedge Obligation concerning the Secured Obligations, this Instrument, the Property, or any part thereof, or any interest therein, or the construction, maintenance, operation or occupancy or use thereof, then
Grantor shall indemnify, defend and hold such Person harmless for, from and against all liability by reason of said litigation or claims, including reasonable attorneys’ fees (together with reasonable appellate counsel fees, if any) and
expenses incurred by such Person in any such litigation or claim, whether or not any such litigation or claim is prosecuted to judgment; provided, however, that nothing in this Section 2.21(b) shall be construed to obligate Grantor to
indemnify, defend and hold harmless Agent, a Lender or a holder of a Hedge Obligation for, from and against any and all liabilities or claims imposed on or incurred by such Person by reason of such Person’s willful misconduct or gross
negligence if a judgment is entered against such Person by a court of competent jurisdiction after expiration of all applicable appeal periods. If Agent commences an action against Grantor to enforce any of the terms hereof or to prosecute any
breach by Grantor of any of the terms hereof or to recover any sum secured hereby, Grantor shall pay to Agent its reasonable attorneys’ fees (together with reasonable appellate counsel, fees, if any) and expenses. The right to such
attorneys’ fees (together with reasonable appellate counsel fees, if any) and expenses shall be deemed to have accrued on the commencement of such action, and shall be enforceable whether or not such action is prosecuted to judgment. If Grantor
breaches any term of this Instrument, Agent may engage the services of an attorney or attorneys to protect its rights hereunder, and in the event of such engagement following any breach by Grantor, Grantor shall pay Agent reasonable attorneys’
fees (together with reasonable appellate counsel fees, if any) and expenses incurred by Agent, whether or not an action is actually commenced against Grantor by reason of such breach. All references to “attorneys” in this Subsection and
elsewhere in this Instrument shall include without limitation any attorney or law firm engaged by Agent and Agent’s in-house counsel, and all references to “fees and expenses” in this Subsection and elsewhere in this Instrument shall
include without limitation any fees of such attorney or law firm and any allocation charges and allocation costs of Agent’s in-house counsel. 

  
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 (c) A waiver of subrogation shall be obtained by Grantor from its insurance carrier and,
consequently, Grantor waives any and all right to claim or recover against Agent, the Lenders, the holders of the Hedge Obligations and each of their respective officers, employees, agents and representatives, for loss of or damage to Grantor, the
Property, Grantor’s property or the property of others under Grantor’s control from any cause insured against or required to be insured against by the provisions of this Instrument. 

(d) ALL SUMS PAYABLE BY GRANTOR HEREUNDER SHALL BE PAID WITHOUT NOTICE (EXCEPT AS MAY OTHERWISE BE PROVIDED HEREIN), DEMAND, COUNTERCLAIM,
SETOFF, DEDUCTION OR DEFENSE AND WITHOUT ABATEMENT, SUSPENSION, DEFERMENT, DIMINUTION OR REDUCTION, AND THE SECURED OBLIGATIONS AND LIABILITIES OF GRANTOR HEREUNDER SHALL IN NO WAY BE RELEASED, DISCHARGED OR OTHERWISE AFFECTED BY REASON OF:
(I) ANY DAMAGE TO OR DESTRUCTION OF OR ANY CONDEMNATION OR SIMILAR TAKING OF THE PROPERTY OR ANY PART THEREOF; (II) ANY RESTRICTION OR PREVENTION OF OR INTERFERENCE WITH ANY USE OF THE PROPERTY OR ANY PART THEREOF; (III) ANY TITLE
DEFECT OR ENCUMBRANCE OR ANY EVICTION FROM THE LAND OR THE IMPROVEMENTS ON THE LAND OR ANY PART THEREOF BY TITLE PARAMOUNT OR OTHERWISE; (IV) ANY BANKRUPTCY, INSOLVENCY, REORGANIZATION, COMPOSITION, ADJUSTMENT, DISSOLUTION, LIQUIDATION, OR
OTHER LIKE PROCEEDING RELATING TO AGENT, THE LENDERS OR ANY HOLDER OF THE HEDGE OBLIGATIONS, OR ANY ACTION TAKEN WITH RESPECT TO THIS INSTRUMENT BY ANY TRUSTEE OR BY ANY RECEIVER OF AGENT, OR BY ANY COURT, IN SUCH PROCEEDING; (V) ANY CLAIM
WHICH GRANTOR HAS, OR MIGHT HAVE, AGAINST AGENT, THE LENDERS OR ANY HOLDER OF THE HEDGE OBLIGATIONS; (VI) ANY DEFAULT OR FAILURE ON THE PART OF AGENT, THE LENDERS OR ANY HOLDER OF THE HEDGE OBLIGATIONS TO PERFORM OR COMPLY WITH ANY OF THE TERMS
HEREOF OR OF ANY OTHER AGREEMENT WITH GRANTOR; OR (VII) ANY OTHER OCCURRENCE WHATSOEVER, WHETHER SIMILAR OR DISSIMILAR TO THE FOREGOING, WHETHER OR NOT GRANTOR SHALL HAVE NOTICE OR KNOWLEDGE OF ANY OF THE FOREGOING. GRANTOR WAIVES ALL RIGHTS
NOW OR HEREAFTER CONFERRED BY STATUTE OR OTHERWISE TO ANY ABATEMENT, SUSPENSION, DEFERMENT, DIMINUTION, OR REDUCTION OF ANY SUM SECURED HEREBY AND PAYABLE BY GRANTOR. 

2.22 Revolving Credit/Future Advance. This Instrument secures Secured Obligations which may provide for a variable rate of interest as
well as revolving credit advances and other future advances, whether such advances are obligatory or otherwise. Advances under the Note are subject to the terms and provisions of the Credit Agreement and the other Security Documents. Grantor
acknowledges that the Secured Obligations may increase or decrease from time to time and that if the outstanding balance of the Secured Obligations is ever repaid to zero the security title and security interest created by this Instrument shall not
be deemed released or extinguished by operation of law or implied intent of the parties. This Instrument shall remain in full force and effect as to any further advances under the Credit Agreement made after any such zero balance until the Secured
Obligations are paid in full, all agreements to make further advances or issue letters of credit have been terminated and this Instrument has been canceled of record. Grantor waives the operation of any applicable statutes, case law or regulation
having a contrary effect. 

  
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 ARTICLE 3 

3.01 Successors and Assigns. This Instrument shall inure to the benefit of and be binding upon Grantor, Trustee and Agent and their
respective heirs, executors, legal representatives, successors and assigns. Whenever a reference is made in this Instrument to Grantor, Trustee or Agent such reference shall be deemed to include a reference to the heirs, executors, legal
representatives, successors and assigns of Grantor or Agent. 
 3.02 Terminology. All personal pronouns used in this Instrument
whether used in the masculine, feminine or neuter gender, shall include all other genders; the singular shall include the plural, and vice versa. Titles and Articles are for convenience only and neither limit nor amplify the provisions of this
Instrument itself, and all references herein to Articles, Sections or subsections thereof, shall refer to the corresponding Articles, Sections or subsections thereof, of this Instrument unless specific reference is made to such Articles, Sections or
subsections thereof of another document or instrument. 
 3.03 Severability. If any provision of this Instrument or the application
thereof to any person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Instrument and the application of such provisions to other persons or circumstances shall not be affected thereby and shall be enforced to
the greatest extent permitted by law. 
 3.04 Applicable Law. This Instrument will be governed by the substantive laws of the State
of Texas, without giving effect to its principles of choice of law or conflicts of law (except with respect to choice of law or conflicts of law provisions of its Uniform Commercial Code), and the laws of the United States applicable to transactions
in the State of Texas. Should any obligation or remedy under this Instrument be invalid or unenforceable pursuant to the laws provided herein to govern, the laws of any other state referred to herein or of another state whose laws can validate and
apply thereto shall govern. 
 3.05 Notices. Except as otherwise provided herein, any notice or other communication required
hereunder shall be in writing, and shall be deemed to have been validly served, given or delivered if given and delivered as provided in the Guaranty if given to Grantor or as provided in the Credit Agreement if given to Agent. 

3.06 Conflict with Credit Agreement Provisions. Grantor hereby acknowledges and agrees that, in the event of any conflict between the
terms hereof and the terms of the Credit Agreement, the terms of the Credit Agreement shall control. 
 3.07 Assignment. This
Instrument is assignable by Agent, and any assignment hereof by Agent shall operate to vest in the assignee all rights and powers herein conferred upon and granted to Agent. 

3.08 Time of the Essence. Time is of the essence with respect to each and every covenant, agreement and obligation of Grantor under
this Instrument, and any and all other instruments now or hereafter evidencing, securing or otherwise relating to the Secured Obligations. 

  
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 3.09 Grantor. Unless the context clearly indicates otherwise, as used in this Instrument,
“Grantor” means the grantors named in recitals hereof or any of them. The obligations of Grantor hereunder shall be joint and several. If any Grantor, or any signatory who signs on behalf of any Grantor, is a corporation, partnership or
other legal entity, Grantor and any such signatory, and the person or persons signing for it, represent and warrant to Agent that this instrument is executed, acknowledged and delivered by Grantor’s duly authorized representatives. 

3.10 Place of Payment; Forum; Waiver of Jury Trial. All Secured Obligations which may be owing hereunder at any time by Borrower or
Grantor shall be payable at the place designated in the Credit Agreement (or if no such designation is made, at the address of Agent indicated at the end of this Instrument). Grantor hereby irrevocably submits generally and unconditionally for
itself and in respect of its property to the non-exclusive jurisdiction of any state court, or any United States federal court, sitting in the county in which the Secured Obligations are payable, and to the non-exclusive jurisdiction of any state
court or any United States federal court sitting in the state in which any of the Property is located, over any suit, action or proceeding arising out of or relating to this Instrument or the Secured Obligations. Grantor hereby irrevocably waives,
to the fullest extent permitted by law, any objection that Grantor may now or hereafter have to the laying of venue in any such court and any claim that any such court is an inconvenient forum. Grantor hereby agrees and consents that, in addition to
any methods of service of process provided for under applicable law, all service of process in any such suit, action or proceeding may be made by certified or registered mail, return receipt requested, directed to Grantor at its address stated in
the first paragraph of this Instrument, or at a subsequent address of Grantor of which Agent received actual notice from Grantor in accordance with the Credit Agreement, and service so made shall be completed five (5) days after the same shall
have been so mailed. Nothing herein shall affect the right of Agent to serve process in any manner permitted by law or limit the right of Agent to bring proceedings against Grantor in any other court or jurisdiction. TO THE FULLEST EXTENT PERMITTED
BY LAW, GRANTOR WAIVES THE RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY ACTION, SUIT OR OTHER PROCEEDING ARISING OUT OF OR RELATING TO THIS INSTRUMENT OR ANY OTHER LOAN DOCUMENT. 

ARTICLE 4–STATE SPECIFIC PROVISIONS 

4.01 Principles of Construction. In the event of any inconsistencies between the terms and conditions of this Article 4 and the
terms and conditions of this Instrument, the terms and conditions of this Article 4 shall control and be binding. 
 4.02 Future
Advances. This Instrument is given to secure not only the existing Secured Obligations, but also such future advances, whether such advances are obligatory or are to be made at the option of Agent or the holder hereof, or otherwise as are made
within twenty (20) years from the date hereof, to the same extent as if such future advances were made on the date of the execution of this Instrument. The total amount of Secured Obligations that may be so secured by this Instrument may be
increased or decreased from time to time (as set forth in the Credit Agreement), but the total unpaid balance so secured at any one time shall not exceed the face amount of the Secured Obligations secured by this Instrument on the date hereof, plus
interest thereon, and any disbursements made for the payment of Impositions and any other liens, 

  
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assessments and charges of every character (the “Other Charges”), insurance premiums, or other costs to be incurred hereunder, with interest on such disbursements at the rate set forth
in the Credit Agreement, plus any increases in the principal balance as the result of negative amortization or deferred interest, if any. It is agreed that any additional sum or sums advanced by Agent pursuant to the terms hereof or pursuant to the
Credit Agreement shall be equally secured with and have the same priority as the original Secured Obligations and shall be subject to all of the terms, provisions and conditions of this Instrument, whether or not such additional loans or advances
are evidenced by other promissory notes or other guaranties of Grantor and whether or not identified by a recital that it or they are secured by this Instrument. It is further agreed that any additional promissory note or promissory notes executed
and delivered pursuant to this paragraph shall automatically be deemed to be included in the term “Note” wherever they appear in the context of this Instrument. 

4.03 State-Specific Provisions. 

(a) The assignments of Leases and Revenues set forth in this Instrument are not intended to constitute payment to Agent, Lenders or Trustee
unless Grantor’s license to collect Revenues is terminated, and then only to the extent that the Revenues are actually received by Agent or any Lender (as opposed to constituting a portion of the voluntary payments of any amounts due under the
Guaranty or the other Loan Documents) and are not used for the operation or maintenance of the Property or for the payment of costs and expenses in connection therewith, taxes, assessments, water charges, sewer rents, and other charges levied,
assessed or imposed against the Property, insurance premiums, costs and expenses with respect to any litigation affecting the Property, the leases, the concessions, and the rent, any wages and salaries of employees, commissions of agents and
attorneys fees. It is further the intent of Grantor, Agent and Lenders that the Revenues hereby absolutely assigned are no longer, during the term of this Instrument, property of Grantor or property of any estate of Grantor as defined in 11 U.S.C.
§ 541 and shall not constitute collateral, cash or otherwise, of Grantor. The term Revenues as used herein shall mean the gross rents without deduction or offsets of any kind. 

(b) BY EXECUTION OF THIS INSTRUMENT AND TO THE FULL EXTENT PERMITTED BY LAW, GRANTOR EXPRESSLY WAIVES ANY AND ALL RIGHTS WHICH GRANTOR MAY HAVE
UNDER THE CONSTITUTION OF THE UNITED STATES (INCLUDING, WITHOUT LIMITATION, THE FIFTH AND FOURTEENTH AMENDMENTS THEREOF), THE VARIOUS PROVISIONS OF THE CONSTITUTIONS FOR THE SEVERAL STATES, OR BY REASON OF ANY OTHER APPLICABLE LAW, TO NOTICE AND TO
JUDICIAL HEARING PRIOR TO THE EXERCISE BY AGENT OF (1) INTENT TO ACCELERATE THE LOAN, OR (2) ACCELERATION THE LOAN. 
 (c)
Notwithstanding anything to the contrary herein, all references in this Instrument to an assignment or transfer of Leases and Revenues is intended to and shall be deemed to provide to Agent and the Lenders a security interest in all
“Rents” as defined in Chapter 64 of the Texas Property Code. Agent and the Lenders shall be entitled to all rights and remedies of an assignee as set forth in said Chapter 64. 

4.04 Additional Remedy Provisions. 

  
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 (a) Delivery Upon Sale. Upon the completion of any sale or sales pursuant hereto, Trustee
shall execute and deliver to the accepted purchaser or purchasers a good and sufficient instrument, or good and sufficient instruments, conveying, assigning and transferring all estate, right, title and interest in and to the property and rights
sold by general warranty of title. Trustee is hereby irrevocably appointed the true and lawful attorney of Grantor, in its name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the Property and rights so sold
and for that purpose Trustee may execute all necessary instruments of conveyance, assignment and transfer, and may substitute one or more persons with like power, Grantor hereby ratifying and confirming all that its said attorney or such substitute
or substitutes shall lawfully do by virtue hereof. Any sale or sales made under or by virtue of this section, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure
and sale, shall operate to divest all the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Grantor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity
against Grantor and against any and all persons claiming or who may claim the same, or any part thereof from, through or under Grantor. 

(b) Option to Bid. Upon any sale made under or by virtue of this paragraph, whether made under the power of sale herein granted or under
or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, Agent may bid for and acquire the Property or any part thereof and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon
the Secured Obligations the net sales price after deducting therefrom the expenses of the sale and costs of the action and any other sums which Agent is authorized to deduct under this Instrument. 

(c) Remaining Liens. No recovery of any judgment by Agent and no levy of an execution under any judgment upon the Property shall affect
in any manner or to any extent the lien of this Instrument upon the Property or any part thereof, or any liens, rights, powers or remedies of Agent hereunder, but such liens, rights, powers and remedies of Agent shall continue unimpaired as before.

 (d) No Waiver of Remedies. Agent may resort to any remedies and the security given by the Guaranty, this Instrument or the other
Loan Documents in whole or in part, and in such portions and in such order as determined by Agent’s sole discretion. No such action shall in any way be considered a waiver of any rights, benefits or remedies evidenced or provided by the
Guaranty, this Instrument or any of the other Loan Documents. The failure of Agent to exercise any right, remedy or option provided in the Guaranty, this Instrument or any of the other Loan Documents shall not be deemed a waiver of such right,
remedy or option or of any covenant or obligation secured by the Guaranty, this Instrument or the other Loan Documents. No acceptance by Agent of any payment after the occurrence of any Event of Default and no payment by Agent of any obligation for
which Grantor is liable hereunder shall be deemed to waive or cure any Event of Default with respect to Grantor’s liability to pay such obligation. No sale of all or any portion of the Property, no forbearance on the part of Agent, and no
extension of time for the payment of the whole or any portion of the Secured Obligations or any other indulgence given by Agent to Grantor, shall operate to release or in any manner affect the interest of Agent, any Lender or any holder of the Hedge
Obligations in the remaining Property or the liability of Grantor to pay the Secured Obligations or the liability of Grantor 

  
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under the Guaranty. No waiver by Agent shall be effective unless it is in writing and then only to the extent specifically stated. All costs and expenses of Agent and Lenders in exercising their
rights and remedies under this Instrument (including reasonable attorneys’ fees and disbursements to the extent permitted by law), shall be paid by Grantor immediately upon notice from Agent, and such costs and expenses shall constitute a
portion of the Secured Obligations and shall be secured by this Instrument. The interests and rights of Agent, any Lender or any holder of the Hedge Obligations under the Guaranty, this Instrument or in any of the other Loan Documents shall not be
impaired by any indulgence, including (i) any renewal, extension or modification which Agent or any Lender may grant with respect to any of the Secured Obligations, (ii) any surrender, compromise, release, renewal, extension, exchange or
substitution which Agent, any Lender, or any holder of the Hedge Obligations may grant with respect to the Property or any portion thereof; or (iii) any release or indulgence granted to any maker, endorser, guarantor or surety of any of the
Secured Obligations. 
 (e) Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Agent may request
Trustee to proceed with foreclosure under the power of sale which is hereby conferred, such foreclosure to be accomplished in accordance with the following provisions: 

(1) Public Sale. Trustee is hereby authorized and empowered, and it shall be Trustee’s special duty, upon such request of Agent,
to sell the Property, or any part thereof, at public auction to the highest bidder for cash, with or without having taken possession of same. Any such sale (including notice thereof) shall comply with the applicable requirements, at the time of the
sale, of Section 51.002 of the Texas Property Code or, if and to the extent such statute is not then in force, with the applicable requirements, at the time of the sale, of the successor statute or statutes, if any, governing sales of Texas
real property under powers of sale conferred by deeds of trust. If there is no statute in force at the time of the sale governing sales of Texas real property under powers of sale conferred by deeds of trust, such sale shall comply with applicable
law, at the time of the sale, governing sales of Texas real property under powers of sale conferred by deeds of trust. Trustee or his successor or substitute may appoint or delegate any one or more persons as agent to perform any act or acts
necessary or incident to any sale held by Trustee, including the posting of notices, and the conduct of sale, but in the name and on behalf of Trustee, his successor or substitute. 

(2) Right to Require Proof of Financial Ability and/or Cash Bid. To the extent permitted by applicable law, any time during the
bidding, Trustee may require a bidding party (A) to disclose its full name, state and city of residence, occupation, and specific business office location, and the name and address of the principal the bidding party is representing (if
applicable), and (B) to demonstrate reasonable evidence of the bidding party’s financial ability (or, if applicable, the financial ability of the principal of such bidding party), as a condition to the bidding party submitting bids at the
foreclosure sale. If any such bidding party (the “Questioned Bidder”) declines to comply with Trustee’s requirement in this regard, or if such Questioned Bidder does respond but Trustee, in Trustee’s sole and absolute
discretion, deems the information or the evidence of the financial ability of the Questioned Bidder (or, if applicable, the principal of such bidding party) to be inadequate, then Trustee may continue the bidding with reservation; and in such event
(1) Trustee shall be authorized to caution the Questioned Bidder concerning the legal obligations to be incurred in submitting bids, and (2) if 

  
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the Questioned Bidder is not the highest bidder at the sale, or if having been the highest bidder the Questioned Bidder fails to deliver the cash purchase price payment promptly to Trustee, all
bids by the Questioned Bidder shall be null and void. Trustee may, in Trustee’s sole and absolute discretion, determine that a credit bid may be in the best interest of the Grantor and Agent, and elect to sell the Property for credit or for a
combination of cash and credit; provided, however, that Trustee shall have no obligation to accept any bid except an all cash bid. In the event Trustee requires a cash bid and cash is not delivered within a reasonable time after
conclusion of the bidding process, as specified by Trustee, but in no event later than 3:45 p.m. local time on the day of sale, then said contingent sale shall be null and void, the bidding process may be recommenced, and any subsequent bids or sale
shall be made as if no prior bids were made or accepted. 
 (3) Sale Subject to Unmatured Secured Obligations. In addition to the
rights and powers of sale granted under the preceding provisions of this subsection (e), if default is made in the payment of any installment of the Secured Obligations and is not cured within applicable cure periods, Agent may, at Agent’s
option, at once or at any time thereafter while any matured installment remains unpaid, without declaring the entire Secured Obligations to be due and payable, orally or in writing direct Trustee to enforce this Instrument and to sell the Property
subject to such unmatured Secured Obligations and to the rights, powers, liens, security interests, and assignments securing or providing recourse for payment of such unmatured Secured Obligations, in the same manner, all as provided in the
preceding provisions of this subsection. Sales made without maturing the Secured Obligations may be made hereunder whenever there is a default in the payment of any installment of the Secured Obligations, without exhausting the power of sale granted
hereby, and without affecting in any way the power of sale granted under this subsection, the unmatured balance of the Secured Obligations or the rights, powers, liens, security interests, and assignments securing or providing recourse for payment
of the Secured Obligations. 
 (4) Partial Foreclosure. Sale of a part of the Property shall not exhaust the power of sale, but sales
may be made from time to time until the Secured Obligations are paid in full. It is intended by each of the foregoing provisions of this subsection that Trustee may, after any request or direction by Agent, sell not only the Land and the
Improvements, but also the fixtures and other interests constituting a part of the Property or any part thereof, along with the Land and the Improvements or any part thereof, as a unit and as a part of a single sale, or may sell at any time or from
time to time any part or parts of the Property separately from the remainder of the Property. It shall not be necessary to have present or to exhibit any of the Property at any sale. Any sale of personal property made hereunder shall be deemed to
have been a public sale conducted in a commercially reasonable manner if held contemporaneously with, or as part of, and upon the same notice as required for the sale of real property under the power of sale granted herein. 

(f) Trustee’s Deeds. After any sale under this subsection, Trustee shall make good and sufficient deeds, assignments, and other
conveyances to the purchaser or purchasers thereunder in the name of Grantor, conveying the Property or any part thereof so sold to the purchaser or purchasers with general warranty of title by Grantor. It is agreed that in any deeds, assignments or
other conveyances given by Trustee, any and all statements of fact or other recitals therein made as to the identity of Agent, the occurrence or existence of any Event of 

  
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Default, the notice of intention to accelerate, or acceleration of, the maturity of the Secured Obligations, the request to sell, notice of sale, time, place, terms and manner of sale, and
receipt, distribution, and application of the money realized therefrom, the due and proper appointment of a substitute trustee, and without being limited by the foregoing, any other act or thing having been duly done by or on behalf of Agent or by
or on behalf of Trustee, shall be taken by all courts of law and equity as prima facie evidence that such statements or recitals state true, correct, and complete facts and Grantor does hereby ratify and confirm any and all acts that Trustee may
lawfully do in the premises by virtue hereof. 
 (g) Inapplicability of Credit Code. In no event shall the provisions of Chapter 346
of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving triparty accounts) apply to the Secured Obligations. 

(h) Maturity Date. The Secured Obligations relating to the Term Loan Notes have a final maturity date of August 9, 2017, unless
extended as provided in the Credit Agreement, and all other Secured Obligations have a final maturity date of August 9, 2016, unless extended as provided in the Credit Agreement. 

(i) Notice of Indemnification. GRANTOR ACKNOWLEDGES THAT THIS INSTRUMENT PROVIDES FOR INDEMNIFICATION OF AGENT, LENDERS, HOLDERS OF THE
HEDGE OBLIGATIONS AND TRUSTEE BY GRANTOR. EXCEPT FOR THE GROSS NEGLIGENCE, WILLFUL MISCONDUCT, BAD FAITH, FRAUD, OR ILLEGAL ACTS OF AGENT, LENDERS, HOLDERS OF THE HEDGE OBLIGATIONS OR THEIR RESPECTIVE AGENTS, EMPLOYEES OR CONTRACTORS WHICH SHALL BE
EXCLUDED FROM THE INDEMNIFICATION OF GRANTOR, IT IS SPECIFICALLY INTENDED BY GRANTOR, AGENT, LENDERS, THE HOLDERS OF THE HEDGE OBLIGATIONS AND TRUSTEE THAT ALL INDEMNITY OBLIGATIONS AND LIABILITIES ASSUMED BY GRANTOR HEREUNDER BE WITHOUT LIMIT AND
WITHOUT REGARD TO THE CAUSE OR CAUSES THEREOF (INCLUDING PREEXISTING CONDITIONS), STRICT LIABILITY, OR THE NEGLIGENCE OF ANY PARTY OR PARTIES (INCLUDING AGENT, LENDERS, HOLDERS OF THE HEDGE OBLIGATIONS AND TRUSTEE) WHETHER SUCH NEGLIGENCE BE SOLE,
JOINT OR CONCURRENT, OR PASSIVE. THE PARTIES SPECIFICALLY INTEND THAT AGENT, LENDERS, THE HOLDERS OF THE HEDGE OBLIGATIONS AND TRUSTEE ARE TO BE INDEMNIFIED AGAINST THEIR OWN NEGLIGENCE (BUT NOT THEIR OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT).

 (j) Substitute Trustee. In case of the resignation of Trustee, or the inability (through death or otherwise), refusal or failure of
Trustee to act, or at the option of Agent for any other reason (which reason need not be stated), a substitute Trustee (herein referred to as the “Substitute Trustee”) may be named, constituted and appointed by Agent, without other
formality than an appointment and designation in writing, which appointment and designation shall be full evidence of the right and authority to make the same and of all facts therein recited, and this conveyance shall vest in the Substitute Trustee
the title, powers and duties herein conferred on Trustee originally named herein, and the conveyance of the Substitute Trustee to the purchaser(s) at any sale of the Property or any part thereof shall be equally valid and effective. The right to
appoint a Substitute Trustee shall exist as often and whenever from any of 

  
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said causes, Trustee or Substitute Trustee, resigns or cannot, will not or does not act, or Agent desires to appoint a new Trustee. No bond shall ever be required of Trustee or Substitute
Trustee. The recitals in any conveyance made by Trustee or Substitute Trustee, shall be accepted and construed in court and elsewhere as prima facie evidence and proof of the facts recited, and no other proof shall be required as to the request by
Agent to Trustee to enforce this Instrument, or as to the notice of or holding of the sale, or as to any particulars thereof, or as to the resignation of Trustee or Substitute Trustee, or as to the inability, refusal or failure of Trustee or
Substitute Trustee, to act, or as to the election of Agent to appoint a new Trustee, or as to appointment of a Substitute Trustee, and all prerequisites of said sale shall be presumed to have been performed; and each sale made under the powers
herein granted shall be a perpetual bar against Grantor and the successors and assigns of Grantor. Trustee or Substitute Trustee is hereby authorized and empowered to appoint any one or more persons as attorney-in-fact to act as Trustee under him
and in his name, place and stead in order to take any actions that Trustee is authorized and empowered to do hereunder, such appointment to be evidenced by an instrument signed and acknowledged by said Trustee or Substitute Trustee and all acts done
by said attorney-in-fact shall be valid, lawful and binding as if done by said Trustee or Substitute Trustee in person. The Agent may appoint or authorize a mortgage servicer to appoint a substitute trustee, such appointment or authorization to be
made by power of attorney, corporate resolution or other written instrument. A mortgage servicer may authorize an attorney to appoint a substitute trustee or substitute trustees on behalf of Agent and the Lenders. The name and street address of such
trustee or substitute trustee shall be disclosed on the notice of sale required by Section 51.002 of the Texas Property Code. 
 (k)
Grantor hereby waives any right or remedy which Grantor may have or be able to assert pursuant to Chapter 34 of the Texas Business and Commerce Code, or any other provision of Texas law, pertaining to the rights and remedies of sureties. 

(l) The remedies in this Section 4.04 shall be available under and governed by the real property laws of Texas and shall not be governed
by the personal property laws of Texas, including, but not limited to, the power to dispose of personal property in a commercially reasonable manner under Section 9.504 of the Texas Uniform Commercial Code, unless Lender elects to proceed as to
the Collateral together with the other Property under and pursuant to the real property remedies of this Section 4.04. 
 (m)
Waiver. In the event an interest in any of the Property is foreclosed upon pursuant to a judicial or nonjudicial foreclosure sale, Grantor agrees as follows: notwithstanding the provisions of Sections 51.003, 51.004, and 51.005 of the Texas
Property Code (as the same may be amended from time to time), and to the extent permitted by law, Grantor agrees that Agent and the Lenders shall be entitled to seek a deficiency judgment from Grantor and any other party obligated on the Note equal
to the difference between the amount owing on the Note and the amount for which the Property was sold pursuant to judicial or nonjudicial foreclosure sale. Grantor expressly recognizes that this Section 4.04(m) constitutes a waiver of the above
cited provisions, to the extent permitted by applicable law, of the Texas Property Code which would otherwise permit Grantor and other persons against whom recovery of deficiencies is sought or Guarantor independently (even absent the initiation of
deficiency proceedings against them) to present competent evidence of the fair market value of the Property as of the date of the foreclosure sale and offset against any deficiency the amount by which the foreclosure sale price


  
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is determined to be less than such fair market value. Grantor further recognizes and agrees that this waiver creates an irrebuttable presumption that the foreclosure sale price is equal to the
fair market value of the Property for purposes of calculating deficiencies owed by Grantor, Guarantor, and others against whom recovery of a deficiency is sought. 

4.05 Waiver of Consequential, Punitive and Speculative Damages. Grantor and Agent agree that, in connection with any action, suit or
proceeding relating to or arising out of this Instrument or any of the other Loan Documents, each mutually waives to the fullest extent permitted by applicable law, any claim for consequential, punitive or speculative damages. 

4.06 Notice of Insurance Termination/Cancellation. Notwithstanding anything to the contrary set forth in the Credit Agreement, Borrower
and Grantor shall only be required to provide fifteen (15) days prior written notice of the early cancellation or termination of any insurance policy covering the Property. 

ARTICLE 5–LEASEHOLD MORTGAGE PROVISIONS 

5.01 Status of Ground Lease. Grantor hereby warrants and represents as follows: (i) the Ground Lease constitutes the sole
agreement between Grantor and the Lessor with respect to the Leased Premises and is in full force and effect in accordance with its terms, covenants and conditions, unmodified by any writing or otherwise; (ii) that the Ground Lease is a valid
and subsisting lease of the Leased Premises and other property leased pursuant to the Ground Lease; (iii) all rent, additional rent and other charges reserved therein have been paid to the extent they are payable to the date hereof;
(iv) Grantor enjoys the quiet and peaceful possession of the Leased Premises demised by the Ground Lease, subject to the terms thereof; (v) neither Grantor nor, to Grantor’s knowledge, the Lessor is in default under any of the terms
of the Ground Lease and, to Grantor’s knowledge, there are no circumstances which, with the passage of time or the giving of notice or both, would constitute a default or event of default thereunder; (vi) there are no encumbrances of the
Ground Lease except as set forth on Exhibit B hereto and (v) that a true and correct copy of the Ground Lease has been delivered by Grantor to Agent. 

5.02 Continuation of Ground Lease. Grantor shall not, except with the prior written consent of Agent, (i) cancel, terminate, or
surrender the Ground Lease, or consent to, acquiesce in or accept any cancellation, rejection or termination thereof, or permit any condition or event to exist which would terminate or cancel the same or permit such termination or cancellation, or
(ii) consent or fail to object to any attempt by Lessor to sell or transfer its interest in the Land and the Improvements free and clear of the Ground Lease, or (iii) amend, modify or otherwise change any term, covenant or condition of the
Ground Lease, or (iv) take any action in connection with the Ground Lease which would have the effect of materially impairing the value of Grantor’s interest thereunder or of the Leased Premises, or of materially impairing the interest of
Agent or Lenders therein, or (v) waive, excuse or discharge any of the material obligations and agreements of any other party under the Ground Lease, or subordinate or consent to the subordination of the Ground Lease to any mortgage or deed of
trust on any party’s interest in the property demised by the Ground Lease or consent to any restriction, covenant or agreement affecting the leasehold estate created by the Ground Lease, or (vi) further assign, transfer, convey, pledge,
encumber or permit the encumbrance of its interest under the Ground Lease. Any attempt on the part of Grantor to exercise any of the forgoing rights without such written consent of Agent shall be null and void and of no effect. 

  
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 5.03 Assignment of Rights under Ground Lease. As further security for the payment of the
Secured Obligations and for the performance of the covenants contained in this Instrument, Grantor hereby assigns to Agent, on behalf of the Lenders, all of its rights, privileges and prerogatives to terminate, subordinate, cancel, modify, change,
supplement, alter, amend, renew, consent or object to any attempted transfer of Lessor’s interest in the Land and the Improvements free and clear of the Ground Lease, extend or give consents or approvals under the Ground Lease (including,
without limitation, the right to elect to accede to any rejection of the Ground Lease in any bankruptcy proceeding of the landlord thereunder), either orally, by course of conduct or in writing, and any such termination, subordination, cancellation,
modification, change, supplement, alteration, amendment, extension, consent or approval of or under the Ground Lease by the Grantor, without the prior written consent thereto by Agent, shall be void and of no force and effect. Provided that no Event
of Default has occurred and is continuing, Grantor shall be permitted to exercise its rights, privileges and prerogatives to renew or extend the Ground Lease to the extent otherwise permitted hereunder. 

5.04 Delivery of Notices. Grantor shall furnish to Agent such information and evidence as Agent may reasonably require concerning the
due observance, performance and compliance with the terms, covenants and provisions, of the Ground Lease including, but not limited to, any evidence of efforts to cure any default during any applicable grace period under the Ground Lease. If,
pursuant to the Ground Lease, the Lessor shall deliver to Agent a copy of any written notice of default or event of default given to Grantor, such notice shall constitute full authority and protection to Agent for any action taken or omitted to be
taken by Agent in good faith in reliance thereon to cure such default (and any such cure shall not constitute the curing of any Default or Event of Default under this Instrument). 

5.05 Performance of Ground Lease by Grantor. Grantor will pay or cause to be paid all rent and other charges required under the Ground
Lease as and when the same are due (without allowance for any cure or grace periods) and Grantor will keep, observe and perform, or cause to be kept, observed and performed, all of the other terms, covenants, provisions and agreements of the Ground
Lease on the part of the lessee thereunder to be kept, observed and performed (without allowance for any cure or grace periods). Grantor will enforce the obligations of the Lessor under the Ground Lease to the end that Grantor may enjoy all of the
rights granted to it under the Ground Lease. 
 5.06 Cure. In the event of any default in the observance or performance of any of the
terms, covenants or conditions to be observed or performed under the Ground Lease, Agent may, at its option, cause the default or defaults to be remedied and otherwise exercise any and all of the rights of the Grantor under the Ground Lease in the
name of and on behalf of Grantor. Agent shall promptly provide to Grantor notice of any such action taken by Agent, but Agent’s right to take any such action shall not be conditioned upon giving any such notice. For the purposes of curing any
breach of Grantor’s covenants contained in this section, or in order to cure any failure of compliance, default or event of default referred to in this section, or effecting, in whole or in part, any such cure, Agent may do (but shall be under
no obligation to do) any act or execute any document in the name of Grantor or as its attorney-in-fact and, to facilitate this right of Grantor, 

  
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Grantor hereby irrevocably appoints Agent, with full power of substitution, its true and lawful attorney-in-fact in its name or otherwise to do any and all acts and to execute any and all
documents which may be necessary or in the opinion of Agent desirable to effect any such cure, or preserve any rights of the Grantor under, or to effect compliance in whole or in part with, the Ground Lease, and Agent and any person designated by
Agent are hereby granted the right to enter upon the Property at any time and from time to time for the purpose of taking such action; and any and all payments made and costs incurred by Agent in connection therewith, including reasonable
attorneys’ fees, shall be secured by this Instrument and, upon demand, shall be repaid by Grantor to Lenders with interest thereon at the Default Rate. Grantor hereby expressly agrees that any “Event of Default” under the Ground Lease
shall constitute and be deemed to be an Event of Default under this Instrument, which shall not be subject to notice or right to cure prior to becoming an “Event of Default” hereunder. 

5.07 No Merger. So long as the Secured Obligations shall remain unpaid, unless Agent shall otherwise give its written consent, the fee
title and the leasehold estate in the property demised by the Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of said estates in the Lessor, Lenders, Grantor, or any third party, whether by
purchase or otherwise. In case Grantor acquires the fee title or any other estate, title or interest in the property demised by the Ground Lease, this Instrument shall automatically attach to and cover and be a lien upon the fee title or such other
estate so acquired, and such fee title or other estate shall, without further assignment, mortgage or conveyance, become and be subject to the lien of and covered by this Instrument. Grantor agrees to execute all instruments and documents which
Agent may reasonably require to ratify, confirm and further evidence Agent’s lien and security title on the acquired estate, title or interest in respect of the Grantor and to deliver an endorsement to the title policy for the Land insuring
this Instrument as a first priority lien on Grantor’s fee simple title to the Land without additional exception. Furthermore, the Grantor hereby appoints Agent its true and lawful attorney in fact to execute and deliver all such instruments and
documents in the name and on behalf of the Grantor. This power, being coupled with an interest, shall be irrevocable as long as the Secured Obligations remain outstanding. 

5.08 No Release. No release or forbearance of any of Grantor’s obligations under the Ground Lease, pursuant to the Ground Lease,
or otherwise, shall release Grantor from any of its obligations under this Instrument, including its obligation with respect to the payment of rent as provided for in the Ground Lease and the performance of all of the terms, provisions, covenants,
conditions and agreements contained in the Ground Lease, to be kept, performed and complied with by the tenant therein. 
 5.09
Elections. Grantor shall not make any election or give any consent or approval (other than the exercise of a renewal right or extension right pursuant to Section 5.11 below) for which a right to do so is conferred upon Grantor as lessee
under the Ground Lease without Agent’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. All such rights, together with the right of termination, cancellation, modification, change, supplement,
alteration or amendment of the Ground Lease, all of which have been assigned for collateral purposes to Agent, shall vest in and be exercisable solely by Agent. 

  
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 5.10 Arbitration Proceedings. Grantor will give Agent prompt written notice of the
commencement of any arbitration, mediation, accounting or appraisal proceeding under and pursuant to the provisions of the Ground Lease. Agent shall have the right to intervene and participate in any such proceeding and Grantor shall confer with
Agent to the extent which Agent deems reasonably necessary for the protection of Agent. Upon the written request of Agent, Grantor will exercise all rights of arbitration, mediation, accounting or appraisal conferred upon it by the Ground Lease.
Grantor shall select an arbitrator, mediator, accountant or appraiser who is approved in writing by Agent, provided, however, that if at the time any such proceeding shall be commenced, Grantor shall be in default in the performance or observance of
any covenant, condition or other requirement of the Ground Lease, or an Event of Default exists under this Instrument, on the part of Grantor to be performed or observed, or Grantor fails to select such Person in accordance with the terms of the
Ground Lease, Agent shall have, and is hereby granted, the sole and exclusive right to designate and appoint on behalf of Grantor the arbitrator, mediator, accountant or appraiser in such proceeding. 

5.11 Exercise of Options. Grantor may exercise any right to renew or extend the term of the Ground Lease contained therein without the
prior written consent of Agent. Grantor shall give Agent simultaneous written notice of the exercise of such option or right to renew or extend, together with a copy of the instrument given to the lessor under the Ground Lease exercising such option
or right, and, thereafter, shall promptly deliver to Agent a copy of any acknowledgment by the lessor under such Ground Lease with respect to the exercise of such option or right. If such option or right has not been exercised as aforesaid, then not
more than one hundred eighty (180) and not less than one hundred fifty (150) days before the right of Grantor to exercise any option or right to renew or extend the term of the Ground Lease shall expire, Grantor shall give Agent written
notice specifying the date, term and manner for which such option or renewal is to be exercised. Within fifteen (15) business days of written demand by Agent, Grantor shall exercise any such option or renewal which is necessary to extend the
term of the Ground Lease beyond the term of this Instrument or to comply with any law affecting Grantor or Agent or which is necessary, in Agent’s reasonable judgment, to preserve the value of the security intended to be afforded by this
Instrument. Grantor shall promptly provide evidence of such exercise of such option or right to Agent’s reasonable satisfaction. In the event that Grantor fails to so exercise any such option or right or in the event of any default hereunder
which is continuing beyond the applicable cure periods, Grantor hereby agrees and grants to Agent all right and authority to exercise such option in the name of Grantor or in its own name. Notwithstanding anything herein to the contrary, Grantor
shall not exercise any purchase options, rights of first offer or rights of first refusal in the Ground Lease without the prior written consent of Agent, which consent shall not be unreasonably withheld, conditioned or delayed including, without
limitation, delivery of a mortgage on the fee interest. Nothing contained herein shall affect or limit any rights of Agent granted under the Ground Lease. 

5.12 Bankruptcy. 
 (a) The
lien of this Instrument shall attach to all of Grantor’s rights and remedies at any time arising under or pursuant to Subsection 365(h) of the Bankruptcy Code, 11 U.S.C. § 365(h), including, without limitation, all of Grantor’s rights
to remain in possession of the Property. In the event that the Lessor should become subject to any bankruptcy proceedings, Grantor shall not accept any rejection by such Person or trustee on behalf of such Person in


  
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bankruptcy as terminating the Ground Lease, but, instead, shall remain in possession of the premises leased pursuant to the Ground Lease to the full extent permitted by law. Without limiting the
foregoing, no such acceptance of any rejection of the Ground Lease or treatment of the Ground Lease as terminated by Grantor shall be effective unless consented to in writing by Agent. 

(b) Grantor shall not, without Agent’s prior written consent, elect to treat the Ground Lease as terminated under Subsection 365(h)(1) of
the Bankruptcy Code, 11 U.S.C. § 365(h)(1). Any such election made without Agent’s consent shall be void. If the Ground Lease is rejected in any case, proceeding or other action commenced by or against the Lessor (or any person or party
constituting or having an interest in the Ground Lease) under the Bankruptcy Code or any comparable federal or state statute or law, (i) Grantor, promptly after obtaining notice thereof, shall give written notice thereof to Agent, and
(ii) this Instrument and all the liens, terms, covenants and conditions of this Instrument shall extend to and cover Grantor’s possessory rights under Subsection 365(h) of the Bankruptcy Code (including all renewal and extension rights)
and to any offsets and claim for damages due to Lessor’s rejection of the Ground Lease. In addition, Grantor hereby collaterally assigns to Agent, Grantor’s rights to remain in possession of the premises demised under the Ground Lease and
to offset rents under the Ground Lease under Subsections 365(h)(1)(A)(ii) and 365(h)(1)(B) of the Bankruptcy Code in the event any case, proceeding or other action is commenced by or against the Lessor under the Bankruptcy Code or any comparable
federal or state statute or law. Grantor hereby assigns to Agent Grantor’s right under Subsection 365(d)(4)(B) to seek an extension of the 120-day period within which Grantor must accept or reject the Ground Lease under Subsection 365(d)(4)(A)
of the Bankruptcy Code or any comparable federal or state statute or law with respect to any case, proceeding or other action commenced by or against Grantor under the Bankruptcy Code or comparable federal or state statute or law. Furthermore, if
Grantor shall desire to reject the Ground Lease under the Bankruptcy Code or any comparable federal or state statute or law, Grantor shall, at Agent’s request, assign its interest in the Ground Lease to Agent in lieu of rejecting the Ground
Lease as described above, upon receipt by Grantor of written notice from Agent of such request together with the agreement of Agent to cure any existing defaults of Grantor under the Ground Lease to the extent required thereunder. Grantor hereby
waives, for the benefit of Agent, its successors and assigns only, and not enforceable by anyone else, the provisions of Section 365 of the Bankruptcy Code or of any other creditors rights law which gives or purports to give Grantor any right
of election to terminate the Ground Lease, to acquiesce in the termination of the Ground Lease or to surrender possession of the Property in the event of any bankruptcy or other debtor relief proceeding of Grantor or any other Person including,
without limitation, Lessor. 
 (c) In the event Lessor, as debtor in possession, or a trustee for Lessor, attempts to transfer its interest
in the Land and the Improvements free and clear of the Ground Lease pursuant to Section 363 of the Bankruptcy Code or pursuant to any other creditors rights law, Grantor shall not consent, acquiesce or fail to object to such attempted transfer.
Any such consent, acquiescence or failure to object shall be null and void. In any event, Grantor hereby waives, for the benefit of Agent, its successors and assigns only, and not enforceable by anyone else, the provisions of Section 363 of the
Bankruptcy Code or of any other creditors rights law which gives or purports to give Grantor or Lessor any right to consent to or acquiesce in the transfer of the Lessor’s interest in the Land and the Improvements free and clear of the Ground
Lease, to acquiesce in the termination of the Ground Lease or to surrender possession of the Property in the event of any bankruptcy or other debtor relief proceeding of Lessor or any other Person. 

  
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 (d) Grantor hereby unconditionally assigns, transfers and sets over to Agent all of
Grantor’s claims and rights to offsets and the payment of damages arising from any rejection of the Ground Lease by Lessor or any other fee owner of the Property under the Bankruptcy Code. Agent shall have the right to proceed in its own name
or in the name of Grantor in respect of any offsets, claim, suit, action or proceeding relating to the rejection of the Ground Lease, including, without limitation, the right to file and prosecute, either in its own name or in the name of Grantor,
any proofs of claim, complaints, motions, applications, notices and other documents, in any case in respect to the Lessor or any fee owner under the Bankruptcy Code. This assignment constitutes a present, irrevocable and unconditional assignment of
the foregoing offsets, claims, rights and remedies, and shall continue in effect until all of the Secured Obligations have been satisfied and discharged in full. Any amounts received by Agent as damages arising out of the rejection of the Ground
Lease as aforesaid shall be applied first to all costs and expenses of Agent (including, without limitation, attorneys’ fees) incurred in connection with the exercise of any of its rights or remedies under this Section and then in accordance
with the provisions of the Loan Documents. Grantor shall promptly make, execute, acknowledge and deliver, in form and substance satisfactory to Agent, a UCC Financing Statement (Form UCC 1) and all such additional instruments, agreements and other
documents, as may at any time hereafter be required by Agent to effectuate and carry out the assignment made pursuant to this Section and any other powers granted to Agent. 

(e) If pursuant to Subsection 365(h)(1)(B) of the Bankruptcy Code, 11 U.S.C. § 365(h)(1)(B), Grantor shall seek to offset against the rent
reserved in the Ground Lease the amount of any damages caused by the nonperformance by the Lessor or any fee owner of any of their obligations under the Ground Lease after the rejection by the Lessor or any fee owner of the Ground Lease under the
Bankruptcy Code, Grantor shall, prior to effecting such offset, notify Agent in writing of its intent to do so, setting forth the amounts proposed to be so offset and the basis therefor. Agent shall have the right to object to all or any part of
such offset that, in the reasonable judgment of Agent, would constitute a breach of the Ground Lease, and in the event of such objection, Grantor shall not effect any offset of the amounts so objected to by Agent. Neither Agent’s failure to
object as aforesaid nor any objection relating to such offset shall constitute an approval of any such offset by Agent. 
 (f) If any action,
proceeding, motion or notice shall be commenced or filed in respect of the Lessor or any fee owner, the Property or the Ground Lease in connection with any case under the Bankruptcy Code, Agent shall have the option, exercisable upon written notice
from Agent to Grantor, to conduct and control any such litigation with counsel of Agent’s choice. Agent may proceed in its own name or in the name of Grantor in connection with any such litigation, and Grantor agrees to execute any and all
powers, authorizations, consents or other documents reasonably required by Agent in connection therewith. Grantor shall, upon demand, pay to Agent all costs and expenses (including attorneys’ fees) paid or incurred by Agent in connection with
the prosecution or conduct of any such proceedings. Any such costs or expenses not paid by Grantor as aforesaid shall be secured by the lien of this Instrument and shall be added to the principal amount of the indebtedness secured hereby. Grantor
shall not 

  
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commence any action, suit, proceeding or case, or file any application or make any motion (unless such motion is for the purpose of protecting the Ground Lease and its value as security for the
obligations secured by this Instrument), in respect of the Ground Lease in any such case under the Bankruptcy Code without the prior written consent of Agent, which consent shall not be unreasonably withheld, conditioned or delayed. 

(g) Grantor shall, after obtaining knowledge thereof, promptly notify Agent in writing of any filing by or against the Lessor or other fee
owner of a petition under the Bankruptcy Code. Grantor shall promptly deliver to Agent, following receipt, copies of any and all notices, summonses, pleadings, applications and other documents received by Grantor in connection with any such petition
and any proceedings relating thereto. 
 (h) If there shall be filed by or against Grantor a petition under the Bankruptcy Code and Grantor,
as lessee under the Ground Lease, shall determine to reject the Ground Lease pursuant to Section 365(a) of the Bankruptcy Code, Grantor shall give Agent not less than thirty (30) days’ prior written notice of the date on which Grantor
shall apply to the Bankruptcy Court for authority to reject the Ground Lease. Agent shall have the right, but not the obligation, to serve upon Grantor within such thirty (30) day period a notice stating that Agent demands that Grantor assume
and assign the Ground Lease to Agent pursuant to Section 365 of the Bankruptcy Code. If Agent shall serve upon Grantor the notice described in the preceding sentence, Grantor shall not seek to reject the Ground Lease and shall comply with the
demand provided for in the preceding sentence. 
 5.13 No Assumption. Notwithstanding anything to the contrary contained herein, this
Instrument shall constitute an assignment of the Ground Lease for collateral purposes only and Agent shall have no liability or obligation thereunder by reason of its acceptance of this Instrument. 

5.14 New Lease. If the Ground Lease is canceled or terminated, and if Agent or its nominee shall acquire an interest in any new lease
of the property demised thereby, Grantor shall have no right, title or interest in or to the new lease or the leasehold estate created by such new lease. 

5.15 Estoppel. Within twenty (20) days after written demand by Agent, Grantor shall use commercially reasonable efforts to cause
the Lessor deliver an estoppel certificate in a form substantially similar to that estoppel certificate being delivered by the Lessor to Agent on or around the date hereof, among other things, setting forth (i) the name of the tenant
thereunder, (ii) that the Ground Lease has not been modified or, if it has been modified, the date of each modification (together with copies of each such modification), (iii) the basic rent payable under the Ground Lease, (iv) the
date to which all rental charges have been paid by the tenant under the Ground Lease, (v) whether there are any alleged defaults of the tenant under the Ground Lease and, if there are, setting forth the nature thereof in reasonable detail, and
(vi) such other matters as may be reasonably requested by Agent. 
 5.16 Liability. Agent shall be liable for the obligations of
Grantor arising under the Ground Lease for only that period of time which Agent has acquired, by foreclosure or otherwise, and is holding all of the Grantor’s right, title and interest therein. 

  
 39 








 5.17 Liens Upon Fee. In the event any lien or encumbrance, other than those exceptions
shown in the title policy in favor of Agent insuring the lien of this Instrument, now or hereafter exists upon the fee title of Lessor under the Ground Lease or the leasehold estate, Grantor will do or cause to be done everything necessary to
preserve and protect: (i) the leasehold estate, from loss by reason of sale under or foreclosure of any such lien or encumbrance; and (ii) the title and possession of the leasehold estate so that these presents shall be and continue to be
a first and prior lien on all of the Property, subject only to those exceptions shown in the title policy in favor of Agent insuring the lien of this Instrument. 

ARTICLE 6–COMPLIANCE WITH CREDIT AGREEMENT 

6.01 Representations and Warranties. In addition to the representations and warranties made by Grantor herein, Grantor hereby makes to
the Agent and the Lenders the representations and warranties set forth in the Credit Agreement applicable to it, as if it were a party thereto, including, without limitation, those contained in the following sections: Sections 6.1(c) and (d), 6.2,
6.6, 6.7, 6.8, 6.9, 6.10, 6.12, 6.14, 6.15, 6.16, 6.17, 6.20, 6.23, 6.25, 6.26, 6.27, 6.28, 6.29, 6.30 and 6.32. 
 6.02 Covenants and
Agreements. The Grantor covenants and agrees that so long as any Loan, Note or Letter of Credit is outstanding that Grantor shall comply with all of the covenants and agreements set forth in the Credit Agreement applicable to it, as if it were a
party thereto, including, without limitation, those contained in the following sections: Sections 7.2, 7.3, 7.4(e), 7.5(a), (b), (c), and (d), 7.6, 7.7 (to the extent required by Section 1.05 hereof), 7.8, 7.9, 7.10, 7.11, 7.12, 7.13,
7.14, 7.16, 7.19, 8.1, 8.2, 8.3, 8.4, 8.5, 8.6, 8.8, 8.10, 8.12, 8.13, 8.14, 8.15, 18.9, 21, and 25. For purposes of Sections 7.5(a), (b), (c) and (d) of the Credit Agreement, notice given to Agent by Borrower shall satisfy any requirement
that Grantor deliver notice under the relevant section. 
 [SIGNATURES ON NEXT PAGE] 

  
 40 








 THIS INSTRUMENT AND THE OTHER LOAN DOCUMENTS EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES
HERETO AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OR PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO. 

IN WITNESS WHEREOF, Grantor has executed this Instrument as of the day and year first above written. 

 

					
	 GRANTOR:
  

HC-5101 MEDICAL DRIVE, LLC,
 a Delaware limited liability
company
  
 By:   Carter/Validus
Operating Partnership, LP, a Delaware limited partnership, its sole member
  

By:   Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its General
Partner

			
		 	            By:	 	/s/ John E. Carter
		 	            Name:	 	John E. Carter
		 	            Title:	 	Chief Executive Officer


 [Acknowledgment Appears on Next Page] 

KeyBank/Carter/Validus Operating Partnership, LP – Post Acute Warm Springs Hospital – 

Signature Page to Leasehold Deed of Trust, Security Agreement and Assignment of Leases and Rents 







 ACKNOWLEDGMENT 

 

			
	 THE STATE OF Florida
	  	§
		  	§
	 COUNTY OF Hillsborough
	  	§

 This instrument was acknowledged before me on November
            , 2013, by John E. Carter, as Chief Executive Officer of Carter Validus Mission Critical REIT, Inc., a Maryland corporation, which is the general partner of
Carter/Validus Operating Partnership, LP, a Delaware limited partnership, which is the sole member of HC-5101 Medical Drive, LLC, a Delaware limited liability company, on behalf of said limited liability company. 

 

			
	 (SEAL)
	    	/s/ Demetra
Elliott                                        

		    	Notary Public
	 My Commission Expires:
	    	Print Name of Notary:
	 2/11/15
	    	Demetra Elliott

 KeyBank/Carter/Validus Operating Partnership, LP – Post Acute Warm Springs Hospital – 

Signature Page to Leasehold Deed of Trust, Security Agreement and Assignment of Leases and Rents 







 EXHIBIT “A” 

Legal Description 
 Real property
in the County of Bexar, State of Texas, described as follows: 
 TRACT I 

Parcel “A” 
 A 4.974 acre (216,660 square foot)
tract of land out of an 11.433 acre tract, out of the Manuel Tejada Survey No. 89, and out of New City Block 13663, San Antonio, Bexar County, Texas and being more particularly described as follows: 

Beginning: at a set  1⁄2” iron pin, the South corner of this
tract, which is N 45° 19’ 46” E 269.59 feet along the Northwest right-of-way line of Medical Drive, 1098.02 feet with the Northwest right-of-way line of Medical Drive and the arc of a curve to the right, concave to the South, which has
a radius of 2060.19 feet, a central angle of 30° 32’ 13”, and a chord bearing of N 60° 35’ 49” E, N 28° 16’ 23” W 631.12 feet, and N 31° 43’ 37” E 27.71 feet from the intersection of the
Northeast right-of-way line of Babcock Road with the Northwest right-of-way line of Medical Drive; 
 Thence: N 28° 16’ 23” W 171.61 feet to a
set  1⁄2” iron pin, the point of curvature of a curve to the left; 

Thence: 36.28 feet with the arc of the curve to the left, concave to the West, which has a radius of 218.50 feet, a central angle of 09° 30’ 44”,
and a chord bearing of N 33° 01’ 45” W to a set  1⁄2” iron pin, a point of reverse curvature; 

Thence: 30.13 feet with the arc of the curve to the right, concave to the East, which has a radius of 181.50 feet, a central angle of 09° 30’
44”, and a chord bearing of N 33° 01’ 45” W to a set  1⁄2” iron pin, the point of tangency of this curve; 

Thence: N 28° 16’ 23” W 260.42 feet to a set
 1⁄2” iron pin, the West corner of this tract; 
 Thence: N
31° 43’ 37” E 376.34 feet to a set  1⁄2” iron pin, the North corner of this tract; 

Thence: S 58° 16’ 23” E 434.15 feet to a set  1⁄2”
iron pin, the East corner of this tract; 
 Thence: S 31° 43’ 37” W 620.65 feet to the point of beginning, containing 4.974 acres (216,660
square feet). 

  
 EXHIBIT “A” -
PAGE 1 








 TRACT I 

Parcel “B” 
 A 3.502 acre green belt tract
(152,564 square feet) of land out of a 11.433 acre tract of land out of the Manuel Tejada Survey No. 89, and out of NCB 13663, San Antonio, Bexar County, Texas, and being more particularly described as follows: 

Beginning: at a found  1⁄2” iron pin on the North right-of-way
line of Medical Drive for the Southwest corner of this 3.502 acre green belt tract, said point being N 45° 19’ 43” E 269.59 feet along the Northwest right-of-way line of Medical Drive to the point of curvature of a curve to the right,
concave to the South, 1098.02 feet with said curve which has a radius of 2060.19 feet, a central angle of 30° 32’ 13”, a chord bearing of N 60° 35’ 49” E from the intersection of the Northeast right-of-way line of Babcock
Road with the Northwest right-of-way line of Medical Drive; 
 Thence: N 28° 16’ 23” W 39.81 feet to a set
 1⁄2” iron pin, the point of curvature of a curve to the right; 

Thence: 63.19 feet along the curve to the right, concave to the East, which has a radius of 181.50 feet, a central angle of 19° 56’ 54”, a chord
bearing of N 18° 17’ 56” W to a set  1⁄2” iron pin, the point of reverse curvature of a curve to the left; 

Thence: 76.07 feet along the curve to the left concave to the West, which has a radius of 218.50 feet, a central angle of 19° 56’ 54”, a chord
bearing of N 18° 17’ 66” W to a set  1⁄2” iron pin, the point of tangency of this curve; 

Thence: N 28° 16’ 23” W 468.70 feet to a set
 1⁄2” iron pin, the West corner of this tract; 
 Thence: N
31° 43’ 37” E 620.65 feet to a set  1⁄2” iron pin, the North corner of this tract; 

Thence: S 58° 16’ 23” E 173.65 feet to a set
 1⁄2” iron pin, the East corner of this tract and non-tangent point of curvature of a curve to the right; 

Thence: 80.27 feet along said curve to the right, concave to the West, which has a radius of 200.00 feet, a central angle of 22° 59’ 46”, a
chord bearing of S 27° 54’ 23” W, to a set  1⁄2” iron pin, a point of compound curvature; 

Thence: 77.89 feet along a curve to the right, concave to the West, which has a radius of 150.00 feet, a central angle of 29° 45’ 00”, a chord
bearing of S 54° 16’ 46” W to a set  1⁄2” iron pin, the point of tangency of this curve; 

Thence: S 69° 09’ 16” W 25.00 feet to a set  1⁄2”
iron pin, the point of curvature of a curve to the left; 

  
 EXHIBIT “A” -
PAGE 2 








 Thence: 239.98 feet along the curve to the left, concave to the East, which has a radius of 200.00 feet, a
central angle of 68° 45’ 00”, a chord bearing of S 34° 46’ 46” W to a set  1⁄2” iron pin, the point of tangency of said curve;

 Thence: S 00° 24’ 16” W 63.11 feet to a set
 1⁄2” iron pin, the point of curvature of a curve to the left; 

Thence: 166.12 feet along the curve to the left, concave to the East, which has a radius of 800.00 feet, a central angle of 11° 53’ 50”, a chord
bearing of S 05° 32’ 39” E, to a set  1⁄2” iron pin, the point of tangency of this curve; 

Thence: S 11° 29’ 34” E 476.05 feet to a set
 1⁄2” iron pin on the north right-of-way line of Medical Drive, a non-tangent point of curvature of a curve to the left; 

Thence: 49.46 feet along the curve to the left, concave to the South, which has a radius of 2060.19 feet, a central angle of 01° 22’ 32” a chord
bearing of S 76° 33’ 12” W to the point of beginning of this 3.502 acre green belt tract. 
 TRACT I 

Parcel “C” 
 A 0.532 acre (23,186 square foot)
access easement out of an 11.433 acre tract, out of the Manuel Tejada Survey No. 89, and out of New City Block 13663, San Antonio, Bexar county, Texas; and being more particularly described as follows: 

Beginning: at the South corner of this tract, which is S 28° 16’ 23” E 39.81, N 45° 19’ 46” E 269.59 feet along the Northwest
right-of-way line of Medical Drive, 1098.02 feet with the Northwest right-of-way line of Medical Drive and the arc of a curve to the right, concave to the South, which has a radius of 2060.19 feet, a central angle of 30° 32’ 13”, and a
chord bearing of N 60° 35’ 49” E, N 28° 16’ 23” W 631.12 feet, and N 31° 43’ 37” E 27.71 feet form the intersection of the Northeast right-of-way line of Babcock Road with the Northwest right-of-way line of
Medical Drive; 
 Thence: N 28° 16’ 23” W 1092.62 feet to the Southwest corner; 

Thence: N 31° 43’ 37” E 21.36 feet to the Northwest corner; 

Thence: S 28° 16’ 23” E 260.42 feet to the point of curvature of a curve to the left, thence: 30.13 feet with the curve to the left, concave to
the Northeast, which has a radius of 181.50 feet, a central angle of 09° 30’ 44”, a chord bearing of S 33° 01’ 45” E and a chord distance of 30.10 feet to a point of reverse curvature; 

  
 EXHIBIT “A” -
PAGE 3 








 Thence: 36.28 feet with this curve to the right, concave to the Southwest, which has a radius of 218.50 feet, a
central angle of 09° 30’ 44”, a chord bearing of S 33° 01’ 45” E and a chord distance of 36.23 feet to the point of tangency of the curve; 

Thence: S 28° 16’ 23” E 640.31 feet to the point of curvature of curve to the right; 

Thence: 76.07 feet with the curve to the right, concave to the West, which has a radius of 218.50 feet, a central angle of 19° 56’ 64”, a chord
bearing S 18° 17’ 56” E and a chord distance of 75.69 feet to a point of reverse curvature; 
 Thence: 63.19 feet with this curve to the left,
concave to the East, which has a radius of 181.50 feet, a central angle of 19° 56’ 54”, a chord bearing of S 18° 17’ 56” E and a chord distance of 62.87 feet to the point of beginning, containing 0.532 acres (23,185
square feet). 
 TRACT II 
 A 0.473 acre (20,583
square foot) ingress and egress easement on Lot 8, New City Block 13663, Villa Rosa Subdivision, San Antonio, Texas, as recorded in Volume 6100 on Page 96 of the deed and plat records of Bexar County, Texas; and being more particularly described as
follows: 
 Beginning: at a found  1⁄2” iron pin on the
Northwest right-of-way line of Medical Drive, being the South corner of an 11.433 acre tract out of the Manuel Tejada Survey No. 89, New City Block 13663, and being the East corner, of Lot 8, and the East corner of this easement, which is, with
the Northwest right-of-way line of Medical Drive, N 45° 19’ 43” E 269.59 feet, 1098.02 feet with a curve to the right, which has a radius of 2060.19 feet and a central angle of 30° 32’ 19” from the intersection of the
Northwest right-of way line of Medical Drive and the Northeast right-of-way line of Babcock Road; 
 Thence: 39.44 feet with the Northwest right-of-way line
of Medical Drive and with a curve to the left, concave to the Southeast, which has a radius of 2060.19 feet, a central angle of 01° 05’ 49”, and a chord bearing of S 75° 19’ 01” W for a chord length of 39.44 feet to the
end of this curve and the beginning of a non-tangent curve to the left; 
 Thence: 6.38 feet with the curve to the left, concave to the West, which has a
radius of 15.00 feet, a central angle of 24° 22’ 28”, and a chord bearing of N 16° 05’ 09” W for a chord length of 6.33 feet to the point of tangency of this curve; 

Thence: N 28° 16’ 23” W 24.35 feet to the point of curvature of a curve to the right; 

Thence: 76.07 feet with the curve to the right, concave to the East, which has a radius of 218.50 feet, a central angle of 19° 56’ 54” and a
chord bearing of N 18° 17’ 56 “W for a chord length of 75.69 feet, to a point of reverse curvature; 
 Thence: 63.19 feet with a curve to the
left, concave to the West, which has a radius of 181.50 feet, a central angle of 19° 56’ 54”, and a chord bearing of N 18° 17’ 56” W for a chord length of 62.87 feet, to the point of tangency of this curve; 

  
 EXHIBIT “A” -
PAGE 4 








 Thence: N 28° 16’ 23” W 640.31 feet to the point of curvature of a curve to the left; 

Thence: 30.12 feet with the curve to the left, concave to the Southwest, which has a radius of 181.50 feet, a central angle of 09° 30’ 44”, and
a chord bearing of N 33° 01’ 45” W for a chord length of 30.13 feet, to a point of reverse curvature; 
 Thence: 36.28 feet with a curve to
the right, concave to the Northeast, which has a radius of 218.05 feet, a central angle of 09° 30’ 44”, and a chord bearing of N 33° 01’ 45” W for a chord length of 36.23 feet, to the point of tangency of this curve; 

Thence: N 28° 16’ 23” W 348.18 feet to the West corner of this easement; 

Thence: N 61° 43’ 37” E 18.50 feet to a found
 1⁄2” iron pin on the Northeast line of Lot 8, the North corner of this easement and the West corner of the 11.433 acre tract; 

Thence: S 28° 16’ 23” E 1230.87 feet with the Northeast line of Lot 8, the Southwest line of the 11.433 acre tract, to the point of beginning,
containing 0.473 acres (20,583 square feet). 
 TRACT III 

A 2.425 acre (105,610 square foot) expansion area tract out of an 11.433 acre tract, out of the Manuel Tejada Survey No. 89, and out of New City Block
13663, San Antonio, Bexar County, Texas, and being more particularly described as follows: 
 Beginning: at a found
 1⁄2” iron pin, the Southwest corner of this tract, which is S 28° 16’ 23” E 1230.87 feet, N 45° 19’ 46” E 269.59 feet along
the Northwest right-of-way line of Medical Drive, 1098.02 feet with the Northwest right-of-way line of Medical Drive and the arc of a curve to the right, concave to the South, which has a radius of 2060.19 feet, a central angle of 30° 32’
13”, and a chord bearing of N 60° 35’ 49” E, N 28° 16’ 23” W 631.12 feet, and N 31° 43’ 37” E 27.71 feet from the intersection of the North right-of-way line of Babcock Road with the Northwest
right-of-way line of Medical Drive; 
 Thence: N 31° 43’ 37” E 458.49 feet to a found  1⁄2” iron pin, the North corner of this tract; 
 Thence: S 58° 16’ 23” E 646.18 feet to a found  1⁄2” iron pin, the beginning of a non-tangent curve to the right; 

Thence: 18.00 feet with the curve to the right, concave to the West which has a radius of 250.00 feet, a central angle of 04° 07’ 31”, a chord
bearing of S 05° 50’ 30” W, and a chord distance of 18.00 feet, to the point of tangency of the curve; 
 Thence: S 07° 54’ 16”
W 72.00 feet to the point of curvature of a curve to the right; 
 Thence: 29.68 feet with the curve to the right, concave to the West, which has a radius
of 200.00 feet, a central of 08° 30’ 14”, a chord bearing of S 12° 09’ 23° W, and a chord distance of 29.66 feet to a corner of this tract; 

Thence: N 58° 16’ 23” W 607.80 feet to a found
 1⁄2” iron pin, an interior corner of this tract; 

  
 EXHIBIT “A” -
PAGE 5 








 Thence: S 31° 43’ 37” W 397.71 feet to a found  1⁄2” iron pin, a corner of this tract; 
 Thence: N 28° 16’ 23” W 98.44 feet to the point of beginning
containing 2.425 acres (105,610 square feet). 
 Tract III being also described as that certain 2.424 acre tract, as more fully described on Exhibit
“A” of that certain First Amendment to Lease Agreement and Access Easement Agreement dated as of September 25, 2000 and recorded on October 18, 2000 in Volume 8609, Page 1533, of the Official Records of Bexar County, Texas, which
alternative description is incorporated herein by reference. 
 TRACT IV: 

A 1.348 acre (58,701 square feet) tract being partially out of a called 134.410 acre tract as recorded in Volume 5417, Page 471, and partially out of a called
114.16 acre tract as record in Volume 4703, Page 249, said 134.410 acre tract and 114.16 acre tract being a portion of the Manuel Tejada Survey No. 89 and situated within New City Block 13663. City of San Antonio, Bexar County, Texas and being
more particularly described as follows: 
 Commencing: at a set
 1⁄2” iron rod at the, westernmost corner of Lot 22, New City Block 13663, Warm Springs Subdivision (Plat Book 9517, Page 71) same being a corner in the
Northeasterly line of Lot 8, NCB 13663, Villa Rosa Subdivision (Plat Book 6100, Page 96); 
 Thence: N 28° 16’ 23” W 98.44 feet along and with
the Northeasterly line of said Lot 8, to a set  1⁄2” iron rod; 

Thence: N 31° 43’ 37” E 456.49 feet to a set
 1⁄2” iron rod; 
 Thence S 58° 16’ 23” E
214.30 feet to a set  1⁄2” iron rod, the Westernmost point of beginning of the herein described 1.348 acres); 

Thence: N 48° 24’ 16” E 662.58 feet to a set
 1⁄2” iron rod in the Southwest right-of-way line of Floyd Curl Drive, an 86 foot right-of-way (Plat Book 9517, Page 150) said iron rod also being a point
on a curve concave Northeasterly; 
 Thence: 30.00 feet along and with the Southwest right-of-way line of Floyd Curl Drive and said curve, having a radius
of 1,740.88 feet, a central angle of 00° 59’ 15” and a chord bearing and distance of S 42° 15’ 00” E 30.00 feet to a set  1⁄2”
iron rod at the point of intersection of the Southwest right-of-way line of Floyd Curl Drive and its intersection with the Northwest line of varying width drainage and sanitary sewer easement as recorded in Plat Book 9522, Page 14; 

Thence: S 48° 24’ 16” N 253.12 feet along and with the Northwest line of said easement to a set
 1⁄2” iron rod at the point of curvature of a curve concave to the East; 

Thence: 331.52 feet continuing along with said easement line and curve, having a radius of 276.29 feet, a central angle of 68° 45’ 00” and a
chord bearing and distance of s 14° 01’ 46” W 311.99 feet to a set  1⁄2” iron rod; 

  
 EXHIBIT “A” -
PAGE 6 








 Thence: S 20° 20’ 44” E 101.55 feet continuing along and with said easement line to a set  1⁄2” iron rod at the point of curvature of a curve concave Southwesterly; 

Thence: 35.33 feet continuing along and with said easement line having a radius of 179.52 feet, a central angle of 11° 16’ 30”, and a chord
bearing and distance of S 14° 42’ 29” E 35.27 feet to a set  1⁄2” iron rod at the Southern most corner of this description, said iron rod
also being at a point in the Northeasterly line of a proposed 2.424 acre tract; 
 Thence: N 58° 16’ 23” W 346.84 feet along and with the
Northeast line of said proposed 2.424 acre tract to the point of beginning. 

  
 EXHIBIT “A” -
PAGE 7 








 EXHIBIT “B” 

Permitted Encumbrances 

Permitted Encumbrances are such matters as are shown on Schedule B to the Pro Forma Loan Title Insurance Policy, File No.: NCS-636401-HOU1,
issued by First American Title Insurance Company to the Agent in connection with this Instrument. 

  
 EXHIBIT “B” -
PAGE 1 








 EXHIBIT “C” 

Schedule 1 
 (Description
of “Debtor” and “Secured Party”) 
  

	A.	Debtor: 

  

	 	1.	HC-5101 MEDICAL DRIVE, LLC, a limited liability company organized under the laws of the State of Delaware. Debtor has been using or operating under said name and identity or corporate structure without change since
October 9, 2013. 

  

	 	  	Names and Tradenames used within last five years: 

 None. 

 

	 	  	Location of all chief executive offices over last five years: 

 4211 W. Boy Scout Boulevard,
Suite 500, Tampa, Florida 33607. 
  

	 	 	Organizational Number: 5412317 

  

	 	 	Federal Tax Identification Number: 90-1021746 

  

	B.	Secured Party: 

 KEYBANK NATIONAL ASSOCIATION, a national banking association, as Agent.


  
 EXHIBIT “C” -
PAGE 1 








 Schedule 2 

(Notice Mailing Addresses of “Debtor” and “Secured Party”) 

 

	A.	The mailing address of Debtor is: 

 HC-5101 Medical Drive, LLC 

4211 W. Boy Scout Boulevard 

Suite 500 
 Tampa, Florida 33607

 Attn: Todd Sakow, Chief Financial Officer 
  

	B.	The mailing address of Secured Party is: 

 KeyBank National Association 

4910 Tiedeman Road 
 3rd Floor

 Brooklyn, Ohio 44144 
 Attn:
Real Estate Capital Services 

  
 Schedule 2 - Page 1