Second Amendment to Agreement of Sale



 Exhibit 10.3 
 SECOND AMENDMENT TO 
 AGREEMENT OF SALE AND PURCHASE 

This Second Amendment to Agreement of Sale and Purchase (the “Amendment”) is entered into as of the 10th day of May,
2013, by and between JEFFERSON EQUITY PARTNERS, LLC, a Tennessee limited liability company (“JEP”), OAK HILL PARTNERS, LLC, a Tennessee limited liability company (“OHP”), KNOXVILLE
EQUITY PARTNERS, LLC, a Tennessee limited liability company (“KEP”), and EMORY DEVELOPMENT PARTNERS, LLC, a Tennessee limited liability company, (“EDP”; JEP, OHP, KEP and EDP being each
referred to as a “Seller” and collectively as the “Sellers”), and CHP PARTNERS, LP a Delaware limited partnership (“Purchaser”). Sellers and Purchaser are sometimes
collectively referred to herein as the “Parties”. 
 WITNESSETH: 

WHEREAS, Purchaser and Sellers are parties to that certain Purchase Agreement of Sale and Purchase having an Effective Date of
April 3, 2013 (as amended by that certain First Amendment to Agreement of Sale and Purchase by and between the Parties dated as of April 30, 2013, the “Agreement”) wherein Sellers agreed to sell to Purchaser, and
Purchaser agreed to purchase from Sellers, the Portfolio (as such term is defined in the Agreement); and 
 WHEREAS, the
Parties have agreed to amend the Agreement as set forth herein; 
 NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
 1. Amended Definition
of “Due Diligence Period”. The definition of the term “Due Diligence Period” is amended to read as follows: 
 “‘Due Diligence Period’ shall mean that period of time beginning on the Effective Date and ending at 5:00 pm, Eastern Time on May 14, 2013.” 

2. Ratification. All of the terms, covenants, conditions, representations and warranties set forth in the Agreement
shall continue in full force and effect and are hereby ratified and affirmed. 
 3. Counterparts. This
Amendment may be executed in two or more counterparts, either electronically or manually, and manually-executed counterparts may be delivered in faxed or scanned electronic form, each of which (whether originally executed or such a faxed or scanned
electronic document) shall be deemed an original, and all of which together shall constitute one and the same instrument. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart hereof signed
by each of the parties. 
 Signatures on following page 







 IN WITNESS WHEREOF, Sellers and Purchaser have executed this Second Amendment
effective as of the day and year written above. 
  

					
	PURCHASER:
	
	CHP PARTNERS, LP, a Delaware limited partnership
	
	By: CHP GP, LLC, a Delaware limited liability company., its general partner
	
	By: CNL Healthcare Properties, Inc., a Maryland corporation, its sole member
			
		 	By:	 	 /s/ Tracey B. Bracco

		 	Name:	 	 Tracey B. Bracco

		 	Title:	 	 Vice President

		 	Date:	 	  










 
			
		 	SELLERS:
	
	JEFFERSON EQUITY PARTNERS, LLC, a Tennessee limited liability company,
		
	By:	 	 /s/ Norman T. Brinkman

	Title:	 	 President

	Date:	 	 5-10-13

	
	KNOXVILLE EQUITY PARTNERS, LLC, a Tennessee limited liability company,
		
	By:	 	 /s/ Norman T. Brinkman

	Title:	 	 President

	Date:	 	 5-10-13

	
	EMORY DEVELOPMENT PARTNERS, LLC, a Tennessee limited liability company,
		
	By:	 	 /s/ Norman T. Brinkman

	Title:	 	 President

	Date:	 	 5-10-13

	
	OAK HILL PARTNERS, LLC, a Tennessee limited liability company,
		
	By:	 	 /s/ Norman T. Brinkman

	Title:	 	 President

	Date:	 	 5-10-13