EX-10.5



 Exhibit 10.5 

AFTER 
 RECORDING, RETURN TO: 

Brian T. Holmes, Esq. 
 McKenna Long & Aldridge LLP 

303 Peachtree Street N.E., Suite 5300 
 Atlanta, Georgia 30308

  
  

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. 

ASSIGNMENT OF LEASES AND RENTS 

THIS ASSIGNMENT OF LEASES AND RENTS (this “Assignment”) is made as of July 31, 2014, by HC-11250 FALLBROOK DRIVE, LLC, a
Delaware limited liability company (“Assignor”), having its principal place of business at 4211 W. Boy Scout Boulevard, Suite 500, Tampa, Florida 33607, to KEYBANK NATIONAL ASSOCIATION, a national banking association
(“KeyBank”), 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 Credit Agreement, dated as of even date herewith, by and among Carter Validus Operating Partnership II, LP, a Delaware limited partnership (“Borrower”), KeyBank, as Agent and the Lenders (as the same may be
further varied, amended, restated, renewed, consolidated, extended or otherwise supplemented from time to time, the “Credit Agreement”). 

ASSIGNOR, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and AS ADDITIONAL SECURITY, does
hereby presently, absolutely, irrevocably and unconditionally GRANT, SELL, CONVEY, ASSIGN, TRANSFER, SET OVER AND DELIVER to Agent, for the ratable benefit of the Lenders and the holders of any Hedge Obligations, as additional security, the entire
lessor’s, landlord’s or licensor’s interest in and to all leases, subleases (to the full extent of Assignor’s right, title and interest therein), tenant contracts, rental agreements, occupancy agreements or agreements of a
similar nature, whether written or oral, now or hereafter affecting the Property (as defined in the Deed of Trust, Security Agreement and Assignment of Leases and Rents dated as of even date herewith executed by Assignor to a trustee named therein,
as “Trustee”, for the benefit of Agent, the other Lenders and the holders of the Hedge Obligations (the “Instrument”)), or any part thereof, which Property includes that certain lot or piece of land, more particularly
described in Exhibit A attached hereto, together with all lease, security, damage or other deposits and all guarantees of the foregoing and letters of credit or other security relating to the performance or obligations of any tenants,
lessees or licensees thereunder (all of the leases and other agreements and guarantees described above together with all present and future leases and present and future agreements and any amendment, modification, extension or renewal of the same
are hereinafter collectively referred to as the “Leases”); 







 TOGETHER WITH all rents, income, issues, revenues and profits arising from the Leases and
renewals thereof and together with all rents, income, issues and profits from the use, enjoyment and occupancy of the Property (including, but not limited to, minimum rents, additional rents, percentage rents, deficiency rents, security deposits and
liquidated damages following default under any Leases, all proceeds payable under any policy of insurance, all of Assignor’s rights to recover monetary amounts from any lessee under the Leases in bankruptcy including, without limitation, rights
of recovery for use and occupancy and damage claims arising out of defaults under the Leases, including rejection of a Lease, together with any sums of money that may now or at any time hereafter be or become due and payable to Assignor by virtue of
any and all lease termination payments, royalties, overriding royalties, bonuses, delay rentals and any other amount of any kind or character arising under any and all present and all future oil, gas and mining Leases covering the Property or any
part thereof, and all rents under and as defined in the Leases) (all of the rights described above hereinafter collectively referred to as the “Rents”). 

THIS ASSIGNMENT is made for the purposes of additionally securing the following described indebtedness (collectively the “Secured
Obligations”): 
 (a) The debt evidenced by (i) those certain Revolving Credit Notes made by Borrower in the aggregate
principal amount of Thirty-Five Million and No/100 Dollars ($35,000,000.00) 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 July 31, 2017,
unless extended as provided in the Credit Agreement, and which evidence a revolving credit loan in the initial principal amount of up to $35,000,000.00 which may be increased pursuant to Section 2.11 of the Credit Agreement, (ii) that
certain 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
July 31, 2017, unless extended as provided in the Credit Agreement, and which evidences a swing loan in the initial principal amount of up to $10,000,000.00, and (iii) each other note as may be issued under the Credit Agreement, including,
without limitation, the revolving credit loan or the swing loan described herein (each of which is due and payable on or before July 31, 2017, 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 (iii) above shall not exceed the aggregate amount of Three Hundred Million and No/100 Dollars ($300,000,000.00) (collectively, the “Note”);

 (b) The payment, performance and discharge of each and every obligation, covenant and agreement of Assignor contained herein, and of
Borrower and Assignor in the Credit Agreement and 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 Assignor is the owner of the Property at the time of such advances); 

  
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 (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, obligations and liabilities now or hereafter owing or to be performed by
Borrower to any Lender or Agent pursuant to the terms of the Credit Agreement or the other Loan Documents, 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) The Enforcement Costs (as defined in the Instrument). 

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 Assignor. 
 Assignor warrants to Agent that
(a) Assignor is the sole owner of the entire lessor’s interest in the Leases and the Rents; (b) the Leases have not been altered, modified or amended in any manner whatsoever except as disclosed to Agent and, to the best knowledge of
Assignor, are valid, enforceable and in full force and effect; (c) neither the Leases nor the Rents reserved in the Leases have been assigned or otherwise pledged or hypothecated; (d) none of the Rents have been collected for more than one
(1) month in advance; (e) Assignor has full power and authority to execute and deliver this Assignment and the execution and delivery of this Assignment has been duly authorized and does not conflict with or constitute a default under any
law, judicial order or other agreement affecting Assignor or the Property; and (f) there exist no offsets or defenses to the payment of any portion of the Rents. 

Assignor covenants with Agent that Assignor (a) shall observe and perform all the obligations imposed upon the lessor under the Leases
and shall not do or permit to be done anything to impair the value of the Leases as security for the Secured Obligations; (b) shall enforce the performance and observance of the obligations of the other parties to the Leases to be performed
thereunder consistent with the provisions of the Credit Agreement; (c) will appear in and defend any action arising out of, or in any manner connected with, any of the Leases, or the obligations or liabilities of Assignor as the landlord,
lessor or licensor thereof, or any tenant, lessee, licensee or any guarantor thereunder; (d) shall not collect any Rents more than one (1) month in advance; (e) shall not execute any other assignment of lessor’s interest in the
Leases or the Rents; (f) shall execute and deliver at the request of Agent all such further assurances, confirmations or assignments in connection with the Property as Agent shall from time to time reasonably require; and (g) shall deliver
to Agent executed copies of all Leases required to be delivered to Agent pursuant to the terms of the Credit Agreement. 

  
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 THIS ASSIGNMENT is made on the following terms, covenants and conditions: 

1. Present Assignment. Assignor does hereby absolutely, presently and unconditionally assign to Agent, Assignor’s right, title and
interest in and to any and all Leases and Rents, it being intended by Assignor that this Assignment constitute a present assignment and not an agreement to assign. Assignor agrees to execute and deliver to Agent such additional instruments, in form
and substance satisfactory to Agent, as may hereinafter be requested by Agent to further evidence and confirm said assignment. Such assignment to Agent shall not be construed to bind Agent to the performance of any of the covenants, conditions, or
provisions contained in any of the Leases or otherwise to impose any obligation upon Agent. Agent is hereby granted and assigned by Assignor the right to enter the Property for the purpose of enforcing its interest in the Leases and the Rents, this
Assignment constituting a present and unconditional assignment of the Leases and Rents. Assignor shall authorize and direct, and does hereby authorize and direct, each and every present and future tenant under the Leases to pay all Rents directly to
Agent upon receipt of written demand from Agent. It is the intent of Assignor and Agent hereunder that the Rents hereby absolutely assigned are no longer, during the term of this Assignment, property of Assignor or property of any estate of Assignor
as defined by 11 U.S.C. § 541, and shall not constitute collateral, cash or otherwise, of Assignor. Notwithstanding the provisions of this Paragraph 1, so long as no Event of Default has occurred and is continuing, Assignor shall have the
right to act as lessor under the Leases to the extent not prohibited by the Credit Agreement. Notwithstanding anything to the contrary herein, all references in this Assignment to an assignment or transfer of Leases and Rents 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. 
 2. License. Although this Assignment constitutes a present assignment of all Rents, so long as there shall exist
no Event of Default under the Instrument or the Credit Agreement, Assignor shall have a license (revocable upon the occurrence and during the continuous of an Event of Default) to collect and receive the Rents. Upon the occurrence and during the
continuance of any Event of Default, the license granted in this Paragraph 2 shall automatically, without further act by Agent, cease and terminate, and thereafter, any Rents received by Assignor shall be held in trust for the benefit of, and shall
be immediately remitted by Assignor to, Agent. 
 3. Remedies of Agent. If an Event of Default under the Instrument or the Credit
Agreement shall have occurred and be continuing, Agent may collect and receive all the Rents, including those past due as well as those accruing thereafter, and, Assignor hereby authorizes Agent or Agent’s agents to collect the Rents and hereby
directs such tenants, lessees and licensees of the Property to pay the Rents to Agent or Agent’s agents. Assignor 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 Rents 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 Assignor to the contrary, and Assignor agrees that Assignor
shall have no right or claim against said tenant, lessee or licensee for or by reason of any Rents paid to Agent following receipt of such written demand. Anything in this Paragraph 3 to the contrary notwithstanding, Agent shall not be obligated to
discharge or 

  
 4 








 
perform the duties of a landlord or lessor to any tenant or other occupant or incur any liability as a result of the exercise by Agent of its rights under this Assignment, and Agent shall be
liable to account only for the rents, income, issues, profits and revenues actually received by Agent. In connection with any action taken by the Agent pursuant to this Paragraph 3, the Agent shall not be liable for any loss sustained by Assignor
resulting from any act or omission of the Agent, including a loss arising from the ordinary negligence of the Agent, unless such loss is caused by its own gross negligence or willful misconduct as finally determined by a court of competent
jurisdiction after the expiration of all applicable appeal periods, nor shall the Agent be obligated to perform or discharge any obligation, duty or liability of Assignor. Assignor hereby assents to, ratifies and confirms any and all actions of the
Agent with respect to the Property taken under this Paragraph 3. 
 4. No Liability of Agent. After the occurrence and during
the continuance of an Event of Default, the Agent is fully authorized to receive and receipt for said revenues and proceeds; to endorse and cash any and all checks and drafts payable to the order of Assignor or the Agent for the account of Assignor
received from or in connection with said revenues or proceeds and apply the proceeds thereof to the payment of the Secured Obligations, when received, regardless of the maturity of any of the Loans or the Hedge Obligations, or any installment
thereof; and to execute transfer and division orders in the name of Assignor, or otherwise, with warranties binding Assignor. The Agent shall not be liable for any delay, neglect, or failure to effect collection of any proceeds or to take any other
action in connection therewith or hereunder; but shall have the right, at its election, in the name of Assignor or otherwise, to prosecute and defend any and all actions or legal proceedings deemed advisable by the Agent in order to collect such
funds and to protect the interests of the Agent and/or Assignor, with all costs, expenses and attorney’s fees incurred in connection therewith being paid by Assignor. 

5. Other Remedies and Non-Waiver. No right, power or remedy conferred upon or reserved to Agent by this Assignment 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 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. No delay or omission of Agent or of any Lender to exercise any right, power or remedy accruing upon any default shall exhaust or impair any such right, power or remedy or shall be construed to be a waiver of any such default,
or acquiescence therein; and every right, power and remedy given by this Assignment 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
breach or default by Assignor in the performance of the obligations thereof hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance of the same or any other obligations of Assignor
hereunder. Failure on the part of Agent to complain of any act or failure to act or to declare an Event of Default under the Instrument, the Credit Agreement, the Guaranty or the other Loan Documents, irrespective of how long such failure continues,
shall not constitute a waiver by Agent of its rights hereunder or impair any rights, powers or remedies of Agent consequent on any breach or default by Assignor. Nothing contained in this Assignment and no act done or omitted by Agent pursuant to
the power and rights granted to Agent hereunder shall be deemed to be a waiver by Agent of its rights and remedies under the other Loan Documents and this Assignment is made and accepted without prejudice to any of the


  
 5 








 
rights and remedies possessed by Agent under the terms thereof. The right of the Agent to collect the Rents and to enforce any other security thereof held by it may be exercised by Agent either
prior to, simultaneously with or subsequent to any action taken by it hereunder. 
 6. Conflict with Credit Agreement Provisions.
Assignor 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. 

7. No Mortgagee in Possession. Nothing herein contained shall be construed as constituting Agent a “mortgagee in possession”
in the absence of the taking of actual possession of the Property by Agent. In the exercise of the powers herein granted to Agent, no liability shall be asserted or enforced against Agent, all such liability being expressly waived and released by
Assignor. 
 8. No Oral Change. This Assignment may not be modified, amended, waived, extended, changed, discharged or terminated
orally, or by any act or failure to act on the part of Assignor or Agent, but only by an agreement in writing signed by the party against whom the enforcement of any modification, amendment, waiver, extension, change, discharge or termination is
sought. 
 9. Certain Definitions. Unless the context clearly indicates a contrary intent or unless otherwise specifically provided
herein, words used in this Assignment may be used interchangeable in singular or plural form and the word “Assignor” shall mean “Assignor and any subsequent owner or owners of the Property or any part thereof or any fee interest
therein,” the word “Agent” shall mean “Agent and any subsequent beneficiary of the Instrument,” the word “Loans” shall have the meaning set forth in the Credit Agreement, the word “person” shall include
an individual, corporation, partnership, trust, unincorporated association, government, governmental authority, and any other entity, the words “Property” shall include any portion of the Property and any interest therein; whenever the
context may require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. All other capitalized terms used, but not defined
herein, shall have the meaning set forth in the Credit Agreement. 
 10. Inapplicable Provisions. If any term, covenant or condition
of this Assignment is held to be invalid, illegal or unenforceable in any respect, this Assignment shall be construed without such provision. 

11. Counterparts. This Assignment may be executed in any number of counterparts each of which shall be deemed to be an original but all
of which when taken together shall constitute one agreement. 
 12. GOVERNING LAW; JURISDICTION. THIS ASSIGNMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS CHOSEN PURSUANT TO SECTION 3.04 OF THE INSTRUMENT. ASSIGNOR HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY COURT OF COMPETENT JURISDICTION LOCATED IN THE JURISDICTION CHOSEN PURSUANT TO
SECTION 3.04 OF THE INSTRUMENT IN CONNECTION WITH ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS ASSIGNMENT. 

  
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 13. Successors and Assigns. Assignor may not assign its rights under this Assignment.
Assignor hereby acknowledges and agrees that Agent may assign this Assignment without Assignor’s consent. Subject to the foregoing, this Assignment shall be binding upon, and shall inure to the benefit of, Assignor and the Agent and their
respective successors and assigns. 
 14. Termination of Assignment. Upon payment in full of the Secured Obligations and the delivery
and recording of a satisfaction, release or discharge of the Instrument duly executed by Agent, this Assignment shall become and be void and of no effect as to the Leases and Rents from the Land no longer securing the Secured Obligations. 

15. INDEMNIFICATION. ASSIGNOR SHALL AND DOES HEREBY AGREE TO INDEMNIFY AND TO HOLD AGENT, THE LENDERS AND THE HOLDERS OF THE
HEDGE OBLIGATIONS HARMLESS FOR, FROM AND AGAINST ANY AND ALL COSTS, EXPENSES, CLAIMS, DEMANDS, LIABILITY, LOSS OR DAMAGE (INCLUDING ALL COSTS, EXPENSES, AND ATTORNEYS’ FEES INCURRED IN THE DEFENSE THEREOF) ASSERTED AGAINST, IMPOSED ON OR
INCURRED BY AGENT, THE LENDERS OR THE HOLDERS OF THE HEDGE OBLIGATIONS IN CONNECTION WITH OR AS A RESULT OF THIS ASSIGNMENT OR THE EXERCISE OF ANY RIGHTS OR REMEDIES UNDER THIS ASSIGNMENT OR UNDER ANY OF THE LEASES OR BY REASON OF ANY ALLEGED
OBLIGATIONS OR UNDERTAKINGS OF AGENT, THE LENDERS OR THE HOLDERS OF THE HEDGE OBLIGATIONS TO PERFORM OR DISCHARGE ANY OF THE TERMS, COVENANTS OR AGREEMENTS CONTAINED IN ANY OF THE LEASES; PROVIDED, HOWEVER, THAT NOTHING HEREIN SHALL BE CONSTRUED TO
OBLIGATE ASSIGNOR TO INDEMNIFY AND HOLD AGENT, THE LENDERS OR THE HOLDERS OF THE HEDGE OBLIGATIONS HARMLESS FOR, FROM AND AGAINST ANY AND ALL COSTS, EXPENSES, CLAIMS, DEMANDS, LIABILITY, LOSS OR DAMAGE ASSERTED AGAINST, IMPOSED ON OR INCURRED BY
AGENT, THE LENDERS OR THE HOLDERS OF THE HEDGE OBLIGATIONS BY REASON OF SUCH PERSON’S WILLFUL MISCONDUCT OR GROSS NEGLIGENCE IF A JUDGMENT IS ENTERED AGAINST AGENT, A LENDER OR A HOLDER OF THE HEDGE OBLIGATIONS BY A COURT OF COMPETENT
JURISDICTION AFTER THE EXPIRATION OF ALL APPLICABLE APPEAL PERIODS. SHOULD AGENT, A LENDER OR A HOLDER OF THE HEDGE OBLIGATIONS INCUR ANY SUCH COSTS, EXPENSES, LIABILITIES, LOSS OR DAMAGE, OR IN THE DEFENSE OF ANY SUCH CLAIMS OR DEMANDS, FOR WHICH
IT IS TO BE INDEMNIFIED BY ASSIGNOR AS AFORESAID, THE AMOUNT THEREOF SHALL BE ADDED TO THE SECURED OBLIGATIONS, SHALL BEAR INTEREST AT THE INTEREST RATE FOR OVERDUE AMOUNTS STATED IN THE CREDIT AGREEMENT FROM THE DATE INCURRED UNTIL PAID (BUT IN NO
EVENT SHALL THE INTEREST PAYABLE EXCEED THE MAXIMUM AMOUNT ALLOWED BY LAW), SHALL BE SECURED BY THIS ASSIGNMENT, THE INSTRUMENT AND THE OTHER LOAN DOCUMENTS, AND SHALL BE PAYABLE IMMEDIATELY UPON DEMAND. 

  
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 16. Notices. Except for any statutory notice required prior to exercise of the remedies
provided herein, which must be delivered in accordance with such statutes, all notices, requests and other communications hereunder shall be made and delivered in the manner provided in the Instrument. 

17. Rejection of Leases. In the event a tenant under any Lease should be the subject of any proceeding under the Federal Bankruptcy Act
(Title 11 U.S.C.) or any other federal, state, or local statute which provides for the possible termination or rejection of the Leases assigned hereby, the Assignor covenants and agrees that if any of the Leases is so rejected, no settlement for
damages shall be made without prior written consent of the Agent, and any check in payment of damages for rejection of such Lease will be made payable both to the Assignor and Agent. The Assignor hereby assigns any such payment to the Agent and
further covenants and agrees that upon the request of the Agent, it will duly endorse to the order of the Agent any check, the proceeds of which will be applied to whatever portion of the indebtedness secured hereby and by the Security Documents
which the Agent may elect. 
 18. No Merger of Estates. So long as any of the indebtedness secured hereby and by the Loan Documents
shall remain unpaid, unless the Agent shall otherwise consent in writing, the fee title and the leasehold estate on the Property as hereinbefore described shall not merge, but shall always be kept separate and distinct, notwithstanding the union of
said estate either in the Assignor or in any tenant or in a third party by purchase or otherwise. 
 19. Agent’s Rights of
Assignment; Rights of Assignees. Agent may assign to any subsequent holder of the Note or the Instrument, or to any person acquiring title to the Property, all of Agent’s right, title and interest in any of the Leases and rents, issues,
income and profits from the Property. No such assignee shall have any liability for any obligation which accrued under any of the Leases prior to the assignment to such assignee nor shall any such assignee have any obligation to account to Assignor
for any rental payments which accrued prior to such assignment unless actually received by such assignee. After Assignor’s right, title and interest in the Property has been foreclosed or otherwise terminated, no assignee of Assignor’s
interest in the Leases shall be liable to account to Assignor for any rents, issues, income or profits thereafter accruing. 
 20.
Modifications, Etc. Assignor hereby consents and agrees that Agent or any other person may at any time and from time to time, without notice to or further consent from Assignor, either with or without consideration, surrender any property or
other security of any kind or nature whatsoever held by it or by any person, firm or corporation on its behalf or for its account, securing the Secured Obligations; substitute for any collateral so held by it, other collateral of like kind; agree to
modification of the terms of the Credit Agreement or any of the other Security Documents or agreements evidencing or relating to the Hedge Obligations (the “Hedge Documents”); extend or renew the Note, the Credit Agreement or any of the
other Security Documents or Hedge Documents for any period; grant releases, compromises and indulgences with respect to the Note, the Credit Agreement, the Guaranty or any of the other Security Documents or Hedge Documents for any period; grant
releases, compromises and indulgences with respect to the Note, the Credit Agreement, the Guaranty or any of the other Security Documents or Hedge Documents to any persons or entities now or hereafter liable thereunder or hereunder; release any
guarantor or endorser of the Note, the Instrument, the Credit 

  
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Agreement, the Guaranty, or any other Security Documents or Hedge Documents; or take or fail to take any action of any type whatsoever; and no such action which Agent or any other person shall
take or fail to take in connection with the Security Documents or Hedge Documents, or any of them, or any security for the payment of the Secured Obligations or for the performance of any obligations or undertakings of Assignor, nor any course of
dealing with Assignor or any other person, shall release Assignor’s obligations hereunder, affect this Assignment in any way or afford Assignor any recourse against Agent or any other person. The provisions of this Assignment shall extend and
be applicable to all renewals, amendments, extensions, consolidations and modifications of the Security Documents, Hedge Documents and the Leases, and any and all references herein to the Security Documents, Hedge Documents or the Leases shall be
deemed to include any such renewals, amendments, extensions, consolidations or modifications thereof. 
 21. Waiver of Jury Trial. 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 ASSIGNMENT OR ANY OTHER SECURITY DOCUMENT. 

THIS ASSIGNMENT shall inure to the benefit of Agent and any subsequent beneficiary of the Instrument and shall be binding upon Assignor, and
Assignor’s heirs, executors, administrators, successors and assigns and any subsequent owner of the Property. 
 [Signatures Begin on
the Following Page] 

  
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 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. 

Assignor has executed this instrument as of the day and year first above written. 

 

							
	ASSIGNOR:
	
	HC-11250 FALLBROOK DRIVE, LLC,
a Delaware limited liability company
		
	By:	 	Carter Validus Operating Partnership II, LP, a Delaware limited partnership, its sole member
			
		 	By:	 	Carter Validus Mission Critical REIT II, Inc., a Maryland corporation, its General Partner
				
		 		 	By:	 	 /s/ John E. Carter

		 		 	Name:	 	John E. Carter
		 		 	Title:	 	Chief Executive Officer



  
 KeyBank/Carter Validus
Operating Partnership II, LP – Cy-Fair Surgery Center – 
 Signature Page to Assignment of Leases and Rents 








 ACKNOWLEDGMENT 

 

			
	THE STATE OF Florida	  	§
		  	§
	COUNTY OF Hillsborough	  	§

 This instrument was acknowledged before me on July 29, 2014, by John E. Carter, as Chief Executive Officer of Carter
Validus Mission Critical REIT II, Inc., a Maryland corporation, which is the general partner of Carter Validus Operating Partnership II, LP, a Delaware limited partnership, which is the sole member of HC-11250 FALLBROOK DRIVE, LLC, a Delaware
limited liability company, on behalf of said limited liability company. 
  

					
	(SEAL)	 		 	 /s/ Elizabeth Fay

		 		 	Notary Public
			
	My Commission Expires:	 		 	Print Name of Notary:
	08/24/2015	 		 	 Elizabeth Fay



  
 KeyBank/Carter Validus
Operating Partnership II, LP – Cy-Fair Surgery Center – 
 Signature Page to Assignment of Leases and Rents 








 EXHIBIT A 

Legal Description 
 ALL OF
THAT 2.6328 ACRES (114,684 SQUARE FEET) BEING ALL OF RESTRICTED RESERVE “A”, IN BLOCK ONE OF CY-FAIR SURGERY CENTER, A SUBDIVISION IN HARRIS COUNTY, TEXAS, ACCORDING TO THE MAP OR PLAT THEREOF, RECORDED IN FILM CODE NO. 358120, OF THE MAP
RECORDS OF HARRIS COUNTY, TEXAS (“H.C.M.R.”). SAID 2.6328 ACRE TRACT ALSO BEING THAT SAME TRACT RECORDED IN HARRIS COUNTY CLERKS FILE NUMBER (H.C.C.F. NO.) U535691 AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: 

(BEARINGS ARE BASED IN FILM CODE NO. 358120 H.C.M.R.) 

BEGINNING at a capped iron rod found (Prejean) in the east right-of-way (R.O.W.) line of Steepletop Drive (width varies) marking the northwest
corner of the herein described tract and the southwest corner of a certain called 1.8172 acre tract recorded in H.C.C.F. No. Y023725 known as Restricted Reserve “A”, Block 1 of CCNWN-ONE, according to the Map or Plat recorded in Film Code
No. 587029 H.C.M.R.; 
 THENCE S 89° 58’ 15” E, along the common line of the north line of the herein described trod with
the south line of said 1.8172 acre tract, a distance of 375.00 feet to a capped iron rod found (Precision) marking the northeast corner of the herein described trod and the northwest corner of a certain called 0.2079 acre tract recorded in H.C.C.F.
No. Y023725; 
 THENCE S 00° 01’ 45” W, along the common line of the east line of the herein described tract with the east
line of said 0.2079 acre tract and a certain called 3.877 acre tract recorded in H.C.C.F. No. Z357659 known as Restricted Reserve “A”, Block 1 of Hearthstone Steeplechase Corner, according to the Map or Plat recorded in Film Code
No. 396089 H.C.M.R., at 136.35 feet passing a 5/8 inch iron rod found for the southwest corner of said 0.2079 acre tract and the northwest corner of said 3.877 acre tract and continuing for a total distance of 402.61 feet to a 5/8 inch iron rod
found in the north R.O.W. line of Fallbrook Drive (100 feet R.O.W.) marking the southeast corner of the herein described tract and the southwest corner of said 3.877 acre tract; 

THENCE N 59° 58’ 15” W, along the north R.O.W. line of said Fallbrook Drive and the south line of the herein described tract, a
distance of 153.29 feet to a P.K. nail found at the beginning of a tangent curve to the left comer for corner; 
 THENCE in a Northwesterly
direction, along the north R.O.W. line of said Fallbrook Drive and the south line of the herein described tract, along with the arc of said curve to the left having a radius of 2050.00 feet, an arc length of 277.91 feet, a central angle of 07°
46’ 03’’ and a chord bearing and distance of N 63° 51’ 17” W-277.70 feet to a capped iron rod found (Precision) at a point of reverse curve for corner; 

  
 Exhibit A – Page 1
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 THENCE in a Northwesterly direction, along the east R.O.W. line of said Steepletop Drive and the
west line of the herein described tract, along with the arc of a curve to the right having a radius of 25.00 feet, an arc length of 32.52 feet, a central angle of 74° 31’ 11’ and a chord bearing and distance of N 30° 28’
43” W-30.27 feet to a capped iron rod found (Prejean) at a point of tangency for corner; 
 THENCE N 06° 46’ 53” E along
the east R.O.W. line of said Steepletop Drive and the west line of the herein described tract, a distance of 165.44 feet to a capped iron rod found (Prejean) at the beginning of a non-tangent curve to the left corner for corner; 

THENCE in a Northeasterly direction, along the east R.O.W. line of said Steepletop Drive and the west line of the herein described tract along
with the arc of said curve to the left having a radius of 1290.00 feet an arc length of 13.69 feet, a central angle of 00° 36’ 29’ and a chord bearing and distance of N 12° 44’ 53” E-13.69 feet to the POINT OF BEGINNING
containing 2.6328 acres of land. 

  
 Exhibit A – Page 2
of 2