Exhibit 99.29  GUARANTY AGREEMENT  THIS GUARANTY
AGREEMENT (this Agreement) is made and given as of September 1,
2008 by FIVE STAR QUALITY CARE, INC., a Maryland corporation (the Guarantor),
for the benefit of SNH RMI FOX RIDGE MANOR PROPERTIES LLC, SNH RMI JEFFERSON
MANOR PROPERTIES LLC, SNH RMI MCKAY MANOR PROPERTIES LLC, SNH RMI NORTHWOOD
MANOR PROPERTIES LLC, SNH RMI OAK WOODS MANOR PROPERTIES LLC, SNH RMI PARK
SQUARE MANOR PROPERTIES LLC, SNH RMI SMITH FARMS MANOR PROPERTIES LLC, and SNH
RMI SYCAMORE MANOR PROPERTIES LLC, each a Maryland limited liability company
(together with their respective successors and assigns, collectively, the Landlord).  WI T N E S S E T H :  WHEREAS, the Landlord
and Five Star Quality Care-RMI, LLC (the Tenant) are parties to that
certain Master Lease Agreement, dated as of the date hereof (as the same may be
amended, modified or otherwise supplemented from time to time, the Lease);
and  WHEREAS,it is acondition precedent to the Landlords entering into the Lease that the
Guarantor guarantee all of the payment and performance obligations of the
Tenant under the Lease; and  WHEREAS,the Tenant is
a wholly-owned subsidiary of the Guarantor and the transactions contemplated by
the Lease are of direct material benefit to the Guarantor;  NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration,
the mutual receipt and legal sufficiency of which are hereby acknowledged, the
Guarantor hereby agrees as follows:  1.Certain Terms.  Capitalized terms used and not otherwise
defined in this Agreement shall have the meanings ascribed to such terms in the
Lease.  The Lease and the Incidental
Documents are herein collectively referred to as the Transaction Documents.  2.Guaranteed
Obligations.  For
purposes of this Agreement the term Guaranteed Obligations shall mean
the payment and performance of each and every obligation of the Tenant to the
Landlord under the Transaction Documents or relating thereto, whether now
existing or hereafter arising, and including, without limitation, the payment
of the full amount of the Rent payable under the Lease.


3.Representations
and Covenants.  The
Guarantor represents, warrants, covenants, and agrees that:  3.1  Incorporation of
Representations and Warranties.  The
representations and warranties of the Tenant and its Affiliated Persons set
forth in the Transaction Documents are true and correct on and as of the date
hereof in all material respects.  3.2  Performance of Covenants and
Agreements.  The Guarantor hereby
agrees to take all lawful action in its power to cause the Tenant duly and
punctually to perform all of the covenants and agreements set forth in the
Transaction Documents.  3.3  Validity of Agreement.  The Guarantor has duly and validly executed
and delivered this Agreement; this Agreement constitutes the legal, valid and
binding obligation of the Guarantor, enforceable against the Guarantor in
accordance with its terms, except as the enforceability thereof may be subject
to bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium
and other laws relating to or affecting creditors rights generally and subject
to general equitable principles, regardless of whether enforceability is
considered in a proceeding at law or in equity; and the execution, delivery and
performance of this Agreement have been duly authorized by all requisite action
of the Guarantor and such execution, delivery and performance by the Guarantor
will not result in any breach of the terms, conditions or provisions of, or
conflict with or constitute a default under, or result in the creation of any
lien, charge or encumbrance upon any of the property or assets of the Guarantor
pursuant to the terms of, any indenture, mortgage, deed of trust, note, other
evidence of indebtedness, agreement or other instrument to which it may be a
party or by which it or any of its property or assets may be bound, or violate
any provision of law, or any applicable order, writ, injunction, judgment or
decree of any court or any order or other public regulation of any governmental
commission, bureau or administrative agency.  3.4  Payment of Expenses.  The Guarantor agrees, as principal obligor
and not as guarantor only, to pay to the Landlord forthwith, upon demand, in
immediately available federal funds, all costs and expenses (including
reasonable attorneys fees and disbursements) incurred or expended by the
Landlord in connection with the enforcement of this Agreement, together with
interest on amounts recoverable under this Agreement from the time such amounts
become due until payment at the Overdue Rate. 
The Guarantors covenants and agreements set  2


forth
in this Section 3.4 shall survive the termination of this Agreement.  3.5 Notices.  The Guarantor shall promptly give notice to
the Landlord of any event known to it which might reasonably result in a
material adverse change in its financial condition.  3.6  Reports.  The Guarantor shall promptly provide to the
Landlord each of the financial reports, certificates and other documents
required of it under the Transaction Documents.  3.7  Books and Records.  The Guarantor shall at all times keep proper
books of record and account in which full, true and correct entries shall be
made of its transactions in accordance with generally accepted accounting
principles and shall set aside on its books from its earnings for each fiscal
year all such proper reserves, including reserves for depreciation, depletion,
obsolescence and amortization of its properties during such fiscal year, as
shall be required in accordance with generally accepted accounting principles,
consistently applied, in connection with its business.  The Guarantor shall permit access by the
Landlord and its agents to the books and records maintained by the Guarantor
during normal business hours and upon reasonable notice.  Any proprietary information obtained by the
Landlord with respect to the Guarantor pursuant to the provisions of this
Agreement shall be treated as confidential, except that such information may be
disclosed or used, subject to appropriate confidentiality safeguards, pursuant
to any court order or in any litigation between the parties and except further
that the Landlord may disclose such information to its prospective lenders,
provided that the Landlord shall direct such lenders to maintain such
information as confidential.  3.8  Taxes, Etc.  The Guarantor shall pay and discharge
promptly as they become due and payable all taxes, assessments and other
governmental charges or levies imposed upon the Guarantor or the income of the
Guarantor or upon any of the property, real, personal or mixed, of the
Guarantor, or upon any part thereof, as well as all claims of any kind
(including claims for labor, materials and supplies) which, if unpaid, might by
law become a lien or charge upon any property and result in a material adverse
change in the financial condition of the Guarantor; provided, however,
that the Guarantor shall not be required to pay any such tax, assessment,
charge, levy or claim if the amount, applicability or validity thereof shall
currently be contested in good faith by appropriate proceedings or other
appropriate actions promptly initiated and diligently  3


conducted
and if the Guarantor shall have set aside on its books such reserves of the
Guarantor, if any, with respect thereto as are required by generally accepted
accounting principles.  3.9    Legal Existence of Guarantor. The
Guarantor shall do or cause to be done all things necessary to preserve and
keep in full force and effect its legal existence.  3.10  Compliance.  The Guarantor shall use reasonable business
efforts to comply in all material respects with all applicable statutes, rules,
regulations and orders of, and all applicable restrictions imposed by, all
governmental authorities in respect of the conduct of its business and the
ownership of its property (including, without limitation, applicable statutes,
rules, regulations, orders and restrictions relating to environmental, safety
and other similar standards or controls).  3.11  Insurance.  The Guarantor shall maintain, with
financially sound and reputable insurers, insurance with respect to its
properties and business against loss or damage of the kinds customarily insured
against by owners of established reputation engaged in the same or similar
businesses and similarly situated, in such amounts and by such methods as shall
be customary for such owners and deemed adequate by the Guarantor.  3.12No Change in Control.  The Guarantor shall not permit the occurrence
of any direct or indirect Change in Control of the Tenant or the Guarantor.  4.Guarantee.  The Guarantor hereby unconditionally
guarantees that the Guaranteed Obligations which are monetary obligations shall
be paid in full when due and payable, whether upon demand, at the stated or
accelerated maturity thereof pursuant to any Transaction Document, or
otherwise, and that the Guaranteed Obligations which are performance
obligations shall be fully performed at the times and in the manner such
performance is required by the Transaction Documents.  With respect to the Guaranteed Obligations
which are monetary obligations, this guarantee is a guarantee of payment and
not of collectibility and is absolute and in no way conditional or
contingent.  In case any part of the
Guaranteed Obligations shall not have been paid when due and payable or
performed at the time performance is required, the Guarantor shall, in the case
of monetary obligations, within five (5) Business Days after receipt of
notice from the Landlord, pay or cause to be paid to the Landlord the amount
thereof as is then due and payable and unpaid (including interest and other
charges, if  4


any, due thereon through the
date of payment in accordance with the applicable provisions of the Transaction
Documents) or, in the case of non-monetary obligations, perform or cause to be
performed such obligations in accordance with the Transaction Documents.  5.Set-Off.  The Guarantor hereby authorizes the Landlord,
at any time and without notice to set off the whole or any portion or portions
of any or all sums credited by or due from the Landlord to it against amounts
payable under this Agreement.  The
Landlord shall promptly notify the Guarantor of any such set-off made by the
Landlord and the application made by the Landlord of the proceeds thereof.  6.Unenforceability
of Guaranteed Obligations, Etc.If the Tenant is for any reason under no
legal obligation to discharge any of the Guaranteed Obligations (other than
because the same have been previously discharged in accordance with the terms
of the Transaction Documents), or if any other moneys included in the Guaranteed
Obligations have become unrecoverable from the Tenant by operation of law or
for any other reason, including, without limitation, the invalidity or
irregularity in whole or in part of any Guaranteed Obligation or of any
Transaction Document or any limitation on the liability of the Tenant
thereunder not contemplated by the Transaction Documents or any limitation on
the method or terms of payment thereunder which may now or hereafter be caused
or imposed in any manner whatsoever, the guarantees contained in this Agreement
shall nevertheless remain in full force and effect and shall be binding upon
the Guarantor to the same extent as if the Guarantor at all times had been the
principal debtor on all such Guaranteed Obligations.  7.Additional
Guarantees.  This
Agreement shall be in addition to any other guarantee or other security for the
Guaranteed Obligations and it shall not be prejudiced or rendered unenforceable
by the invalidity of any such other guarantee or security or by any waiver,
amendment, release or modification thereof.  8.Consents and
Waivers, Etc.The
Guarantor hereby acknowledges receipt of correct and complete copies of each of
the Transaction Documents, and consents to all of the terms and provisions
thereof, as the same may be from time to time hereafter amended or changed in
accordance with the terms and conditions thereof, and, except as otherwise
provided herein, to the maximum extent permitted by applicable law, waives (a) presentment,
demand for payment, and protest of nonpayment, of any principal of or interest
on any of the Guaranteed  5


Obligations, (b) notice
of acceptance of this Agreement and of diligence, presentment, demand and
protest, (c) notice of any default hereunder and any default, breach or
nonperformance or Event of Default under any of the Guaranteed Obligations or
the Transaction Documents, (d) notice of the terms, time and place of any
private or public sale of any collateral held as security for the Guaranteed
Obligations, (e) demand for performance or observance of, and any
enforcement of any provision of, or any pursuit or exhaustion of rights or
remedies against the Tenant or any other guarantor of the Guaranteed
Obligations, under or pursuant to the Transaction Documents, or any agreement
directly or indirectly relating thereto and any requirements of diligence or
promptness on the part of the holders of the Guaranteed Obligations in
connection therewith, and (f) to the extent the Guarantor lawfully may do
so, any and all demands and notices of every kind and description with respect
to the foregoing or which may be required to be given by any statute or rule of
law and any defense of any kind which it may now or hereafter have with respect
to this Agreement, or any of the Transaction Documents or the Guaranteed
Obligations (other than that the same have been discharged in accordance with
the Transaction Documents).  9.No Impairment,
Etc.The obligations, covenants,
agreements and duties of the Guarantor under this Agreement shall not be
affected or impaired by any assignment or transfer in whole or in part of any
of the Guaranteed Obligations without notice to the Guarantor, or any waiver by
the Landlord or any holder of any of the Guaranteed Obligations or by the holders
of all of the Guaranteed Obligations of the performance or observance by the
Tenant or any other guarantor of any of the agreements, covenants, terms or
conditions contained in the Guaranteed Obligations or the Transaction Documents
or any indulgence in or the extension of the time for payment by the Tenant or
any other guarantor of any amounts payable under or in connection with the
Guaranteed Obligations or the Transaction Documents or any other instrument or
agreement relating to the Guaranteed Obligations or of the time for performance
by the Tenant or any other guarantor of any other obligations under or arising
out of any of the foregoing or the extension or renewal thereof (except that
with respect to any extension of time for payment or performance of any of the
Guaranteed Obligations granted by the Landlord or any other holder of such
Guaranteed Obligations to the Tenant, the Guarantors obligations to pay or
perform such Guaranteed Obligation shall be subject to the same extension of
time for performance), or the modification or amendment (whether material or
otherwise) of any duty, agreement or obligation of the Tenant or any other
guarantor set forth in any of the foregoing, or the voluntary or involuntary
sale or  6


other disposition of all or
substantially all the assets of the Tenant or any other guarantor or
insolvency, bankruptcy, or other similar proceedings affecting the Tenant or
any other guarantor or any assets of the Tenant or any such other guarantor, or
the release or discharge of the Tenant or any such other guarantor from the
performance or observance of any agreement, covenant, term or condition
contained in any of the foregoing without the consent of the holders of the
Guaranteed Obligations by operation of law, or any other cause, whether similar
or dissimilar to the foregoing.  10.Reimbursement,
Subrogation, Etc.The
Guarantor hereby covenants and agrees that it will not enforce or otherwise
exercise any rights of reimbursement, subrogation, contribution or other
similar rights against the Tenant (or any other person against whom the
Landlord may proceed) with respect to the Guaranteed Obligations prior to the
payment in full of all amounts owing with respect to the Lease, and until all
indebtedness of the Tenant to the Landlord shall have been paid in full, the
Guarantor shall not have any right of subrogation, and the Guarantor waives any
defense it may have based upon any election of remedies by the Landlord which
destroys its subrogation rights or its rights to proceed against the Tenant for
reimbursement, including, without limitation, any loss of rights the Guarantor
may suffer by reason of any rights, powers or remedies of the Tenant in
connection with any anti-deficiency laws or any other laws limiting, qualifying
or discharging the indebtedness to the Landlord.  Until all obligations of the Tenant pursuant
to the Transaction Documents shall have been paid and satisfied in full, the
Guarantor further waives any right to enforce any remedy which the Landlord now
has or may in the future have against the Tenant, any other guarantor or any
other person and any benefit of, or any right to participate in, any security
whatsoever now or in the future held by the Landlord.  11.Defeasance.  This Agreement
shall terminate at such time as the Guaranteed Obligations have been paid and
performed in full and all other obligations of the Guarantor to the Landlord
under this Agreement have been satisfied in full; provided, however,
if at any time, all or any part of any payment applied on account of the
Guaranteed Obligations is or must be rescinded or returned for any reason
whatsoever (including, without limitation, the insolvency, bankruptcy or
reorganization of the Tenant), this Agreement, to the extent such payment is or
must be rescinded or returned, shall be deemed to have continued in existence
notwithstanding any such termination.  7


12.Notices.  (a)  Any and
all notices, demands, consents, approvals, offers, elections and other
communications required or permitted under this Agreement shall be deemed
adequately given if in writing and the same shall be delivered either in hand,
by telecopier with written acknowledgment of receipt, or by mail or Federal
Express or similar expedited commercial carrier, addressed to the recipient of
the notice, postpaid and registered or certified with return receipt requested
(if by mail), or with all freight charges prepaid (if by Federal Express or
similar carrier).  (b)All notices
required or permitted to be sent hereunder shall be deemed to have been given
for all purposes of this Agreement upon the date of acknowledged receipt, in
the case of a notice by telecopier, and, in all other cases, upon the date of
receipt or refusal, except that whenever under this Agreement a notice is
either received on a day which is not a Business Day or is required to be
delivered on or before a specific day which is not a Business Day, the day of
receipt or required delivery shall automatically be extended to the next
Business Day.  (c)All such notices shall be addressed,  if
to the Landlord to:  c/o
Senior Housing Properties Trust 400
Centre Street Newton,
Massachusetts  02458 Attn:  Mr. David J. Hegarty Telecopier No.(617) 796-8439  if
to the Guarantor to:  Five Star Quality Care, Inc. 400 Centre Street Newton, Massachusetts  02458 Attn: 
Mr. Bruce J. Mackey Jr. Telecopier No. (617) 796-8243  (d)By notice given
as herein provided, the parties hereto and their respective successors and
assigns shall have the right from time to time and at any time during the term
of this Agreement to change their respective addresses effective upon receipt
by the other parties of such notice and each shall have the right to specify as
its address any other address within the United States of America.  13.Successors and
Assigns.  Whenever in this Agreement any
of the parties hereto is referred to, such reference shall be deemed to include
the successors and assigns of such party,  8


including without limitation the holders, from time
to time, of the Guaranteed Obligations; and all representations, warranties,
covenants and agreements by or on behalf of the Guarantor which are contained
in this Agreement shall inure to the benefit of the Landlords successors and
assigns, including without limitation said holders, whether so expressed or
not.  14.Applicable Law.  Except as to matters regarding the internal
affairs of the Landlord and issues of or limitations on any personal liability
of the shareholders and trustees of the Landlord for obligations of the
Landlord, as to which the laws of the State of Maryland shall govern, this Agreement,
the Transaction Documents and any other instruments executed and delivered to
evidence, complete or perfect the transactions contemplated hereby and thereby
shall be interpreted, construed, applied and enforced in accordance with the
laws of The Commonwealth of Massachusetts applicable to contracts between
residents of Massachusetts which are to be performed entirely within
Massachusetts, regardless of (a) where any such instrument is executed or
delivered; or (b) where any payment or other performance required by any
such instrument is made or required to be made; or (c) where any breach of
any provision of any such instrument occurs, or any cause of action otherwise
accrues; or (d) where any action or other proceeding is instituted or
pending; or (e) the nationality, citizenship, domicile, principal place of
business, or jurisdiction of organization or domestication of any party; or (f) whether
the laws of the forum jurisdiction otherwise would apply the laws of a
jurisdiction other than The Commonwealth of Massachusetts; or (g) any
combination of the foregoing.  15.Arbitration.  The Landlordor the
Guarantor may elect to submit to arbitration any dispute hereunder that has an
amount in controversy in excess of $250,000. 
Any such arbitration shall be conducted in Boston, Massachusetts in
accordance with the Commercial Arbitration Rules of the American
Arbitration Association then pertaining and the decision of the arbitrators
with respect to such dispute shall be binding, final and conclusive on the parties.  In the event that any such dispute is submitted to
arbitration hereunder, the Landlord and the Guarantor shall each appoint and
pay all fees of a fit and impartial person as arbitrator with at least ten (10) years
recent professional experience in the general subject matter of the
dispute.  Notice of such appointment
shall be sent in writing by each party to the other, and the arbitrators so
appointed, in the event of their failure to agree within thirty (30) days after
the appointment of the second arbitrator upon the matter so  9


submitted, shall appoint a third arbitrator.  If either the Landlord or the Guarantor shall
fail to appoint an arbitrator as aforesaid for a period of twenty (20) days after
written notice from the other party to make such appointment, then the
arbitrator appointed by the party having made such appointment shall appoint a
second arbitrator and the two (2) so appointed shall, in the event of
their failure to agree upon any decision within thirty (30) days thereafter,
appoint a third arbitrator.  If such
arbitrators fail to agree upon a third arbitrator within forty five (45) days
after the appointment of the second arbitrator, then such third arbitrator
shall be appointed by the American Arbitration Association from its qualified
panel of arbitrators, and shall be a person having at least ten (10) years
recent professional experience as to the subject matter in question.  The fees of the third arbitrator and the
expenses incident to the proceedings shall be borne equally between the
Landlord and the Guarantor, unless the arbitrators decide otherwise.  The fees of respective counsel engaged by the
parties, and the fees of expert witnesses and other witnesses called for the
parties, shall be paid by the respective party engaging such counsel or calling
or engaging such witnesses.  The decision of the arbitrators shall be rendered
within thirty (30) days after appointment of the third arbitrator.  Such decision shall be in writing and in
duplicate, one counterpart thereof to be delivered to the applicable Landlord
and one to the Guarantor.  A judgment of
a court of competent jurisdiction may be entered upon the award of the
arbitrators in accordance with the rules and statutes applicable thereto
then obtaining.  The Landlord and the
Guarantor acknowledge and agree that, to the extent any such dispute shall
involve any Manager and be subject to arbitration pursuant to such Managers
Management Agreement, the Landlord and the Guarantor shall cooperate to
consolidate any such arbitration hereunder and under such Management Agreement
into a single proceeding.  16.Modification of
Agreement.  No
modification or waiver of any provision of this Agreement, nor any consent to
any departure by the Guarantor therefrom, shall in any event be effective
unless the same shall be in writing and signed by the Landlord, and such
modification, waiver or consent shall be effective only in the specific
instances and for the purpose for which given. 
No notice to or demand on the Guarantor in any case shall entitle the
Guarantor to any other or further notice or demand in the same, similar or
other circumstances.  This Agreement may
not be amended except by an instrument in writing  10


executed by or on behalf of the party against whom
enforcement of such amendment is sought.  17.Waiver of
Rights by the Landlord. 
Neither any failure nor any delay on the Landlords part in exercising
any right, power or privilege under this Agreement shall operate as a waiver
thereof, nor shall a single or partial exercise thereof preclude any other or
further exercise or the exercise of any other right, power or privilege.  18.Severability.  In case any one or more of the provisions
contained in this Agreement should be invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired thereby, but this
Agreement shall be reformed and construed and enforced to the maximum extent
permitted by applicable law.  19.Entire Contract.  This Agreement constitutes the entire
agreement between the parties hereto with respect to the subject matter hereof
and shall supersede and take the place of any other instruments purporting to
be an agreement of the parties hereto relating to the subject matter hereof.  20.Headings;
Counterparts.  Headings in
this Agreement are for purposes of reference only and shall not limit or otherwise
affect the meaning hereof.  This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together shall constitute one instrument, and in
pleading or proving any provision of this Agreement, it shall not be necessary
to produce more than one of such counterparts.  21.Remedies
Cumulative.  No remedy
herein conferred upon the Landlord is intended to be exclusive of any other
remedy, and each and every remedy shall be cumulative and shall be in addition
to every other remedy given hereunder or now or hereafter existing at law or in
equity or by statute or otherwise.  11


WITNESS the
execution hereof under seal as of the date above first written.  FIVE STAR
  QUALITY CARE, INC.,a
  Maryland corporation/s/
  Bruce J. Mackey Jr.Bruce
  J. Mackey Jr.President