Document:

Exhibit

Exhibit 10.1

FIRST AMENDMENT TO 
FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 
AND OTHER CREDIT DOCUMENTS

THIS FIRST AMENDMENT TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT AND OTHER CREDIT DOCUMENTS (this “Amendment”) is entered into as of August 16, 2019 (the “Effective Date”), by and among CAPITAL ONE, NATIONAL ASSOCIATION, a national banking association (in its individual capacity, “CONA” and in its capacity as agent for the Lenders, together with its successors, “Administrative Agent”), the lender parties other than CONA who are or hereafter become parties to the below-defined Credit Agreement (together with CONA, individually, each a “Lender”, and collectively, the “Lenders”, as the context may require), THE PARTIES LISTED ON SCHEDULE I ATTACHED HERETO (each, a “Borrower” and collectively, the “Borrowers”), and BROOKDALE SENIOR LIVING INC., a Delaware corporation (“Guarantor”).

RECITALS:

A.Borrowers (other than the hereafter defined Joined Borrowers), Administrative Agent and Lenders entered into that certain Fifth Amended and Restated Credit Agreement dated as of December 5, 2018 (the “Credit Agreement”), pursuant to which the Lenders agreed to make the loan described therein (the “Loan”) to Borrowers.

B.BKD Goodlettsville PropCo, LLC a Delaware limited liability company, became a “Borrower” under the Credit Agreement pursuant to that certain Joinder Agreement dated as of February 6, 2019 (the “Goodlettsville Joined Borrower”).

C.Emeritol Lo Coeur D’Alene LLC, Emeritol Highland Hills LLC, and Emeritol Ridge Wind LLC, each a Delaware limited liability company, became “Borrowers” under the Credit Agreement pursuant to that certain Joinder Agreement dated as of July 24, 2019 (the “Idaho Joined Borrowers” and together with the Goodlettsville Joined Borrower, collectively, the “Joined Borrowers”).

D.Guarantor is liable for the payment of certain (a) obligations under the Loan pursuant to that certain Guaranty dated December 5, 2018, and executed by Guarantor in favor of Administrative Agent for the benefit of the Lenders (the “Guaranty”), and (b) costs and expenses related to the existence of hazardous materials affecting the property securing the Loan pursuant to that certain Hazardous Materials Indemnity Agreement dated December 5, 2018, and executed by Guarantor in favor of Administrative Agent for the benefit of the Lenders (the “Environmental Indemnity”).

E.Borrowers have requested that Administrative Agent and Lenders amend certain provisions and definitions in the Credit Agreement with respect to the calculation of the Availability Amount and certain terms of the Credit Agreement, and Administrative Agent and Lenders have agreed to such requests upon the terms and conditions set forth herein.

Page 1

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Administrative Agent, Lenders, Borrowers and Guarantor hereby agree as follows:

1.Defined Terms.  Capitalized terms used but not otherwise defined in this Amendment shall have the meanings ascribed to such terms in the Credit Agreement (as modified hereby).  

2.Recitals.  All of the Recitals stated above are true and accurate and by this reference are incorporated into and made a part of the body of this Amendment.

3.Borrowing Base Calculations; Amendments to Definitions.  

(a)The following definitions in Section 1.01 of the Credit Agreement are deleted in their entirety and replaced with the following:

“Borrowing Base Amount” means, as of any Determination Date, an amount equal to (a) the FCCR Multiplier as of such date, multiplied by (b) the lesser of (x) the sum of the Mortgaged Assets Borrowing Base Amount and the Pledged Assets Borrowing Base Amount, and (y) the Availability Amount for all Borrowing Base Assets that are Performing Assets as of such date; provided, however, that in no event may the Borrowing Base Amount derived from Pledged Borrowing Base Assets, as of any date, exceed an amount equal to (i) the Mortgaged Assets Borrowing Base Amount as of such date multiplied by (ii) ten percent (10%); and further provided, that for any period in which the Consolidated Fixed Charge Coverage Ratio does not satisfy the requirements of Section 6.12(a), the FCCR Multiplier shall be zero (0).

“Mortgaged Assets Collateral Value” means an amount equal to (a) the Collateral Value as of such date for each Mortgaged Borrowing Base Asset, multiplied by (b) seventy percent (70%).

“Pledged Asset Collateral Value” means an amount equal to (a) the Collateral Value as of such date for each Pledged Borrowing Base Asset, multiplied by (b) sixty percent (60%).

(b)The following new definition is inserted into Section 1.01 of the Credit Agreement, to be placed in alphabetical order therein:

“FCCR Multiplier” means the applicable percentage set forth below, determined in accordance with the Consolidated Fixed Charge Coverage Ratio set forth in the Compliance Certificate most recently delivered to Administrative Agent in accordance with Section 6.02(a):

Page 2

	
		
	If Consolidated Fixed Charge Coverage Ratio is:
	Then FCCR Multiplier is:

	>=1.20x
	100.00%

	1.19x
	97.86%

	1.18x
	95.71%

	1.17x
	93.57%

	1.16x
	91.43%

	1.15x
	89.29%

	1.14x
	87.14%

	1.13x
	85.00%

	1.12x
	82.86%

	1.11x
	80.71%

	1.10x
	78.57%

	1.09x
	76.43%

	1.08x
	74.29%

	1.07x
	72.14%

	1.06x
	70.00%

	1.05x
	67.86%

	1.04x
	65.71%

	1.03x
	63.57%

	1.02x
	61.43%

	1.01x
	59.29%

	>=1.00x
	57.14%

4.Financial Covenants.  Section 6.12(a) of the Credit Agreement is deleted in its entirety and replaced with the following:

(a)    Consolidated Fixed Charge Coverage Ratio.  The Consolidated Fixed Charge Coverage Ratio for any period of four consecutive calendar quarters ending on the last day of any calendar quarter, shall be equal to or greater than the required Consolidated Fixed Charge Coverage Ratio for the time periods set forth below:

	
		
	Time Period
	Required Consolidated Fixed Charge Coverage Ratio

	Effective Date - June 30, 2021
	1.00 to 1.00

	July 1, 2021 - December 31, 2022
	1.05 to 1.00

	January 1, 2023 and thereafter
	1.10 to 1.00

5.Acknowledgement Regarding any Supported QFCs. A new Section 10.27 is hereby added to the Credit Agreement to read in its entirety as follows:

10.27    Acknowledgement Regarding any Supported QFCs.  To the extent that the Credit Documents provide support, through a guarantee or otherwise, for Secured Rate Contracts or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported QFC”), each party hereto acknowledges and agrees as follows with respect to the resolution power of the Federal Deposit Insurance 

Page 3

Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Credit Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of Illinois and/or of the United States or any other state of the United States):

(a)In the event a QFC Covered Entity that is party to a Supported QFC (each, a “QFC Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such QFC Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States.  In the event a QFC Covered Party or a BHC Act Affiliate of a QFC Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Credit Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such QFC Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Credit  Documents were governed by the laws of the United States or a state of the United States.  Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any QFC Covered Party with respect to a Supported QFC or any QFC Credit Support.

(b)As used in this Section 10.27, the following terms have the following meanings: 

(i)“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

(ii)“QFC Covered Entity” means any of the following:

(1)a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

(2)a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

(3)a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

Page 4

(iii)“Default Right” has the meaning assigned to that term in, and interpreted in accordance with, 12 C.F.R. § § 252.81, 47.2 or 382.1 as applicable.

(iv)“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 

6.Additional Modifications to the Credit Agreement. The Credit Agreement is modified as follows:

(a)Schedule 2.01(a) is deleted and replaced with Schedule 2.01(a) attached hereto.    

(b)Part D of Schedule 5.13 (Material Contracts; Contracts Subject to Assignment of Claims Act) is deleted and replaced with the following Part D:

D.    Assignment of Claims Act

BREA Sun City West LLC, BREA Palmer Ranch LLC, Brookdale Place at Kenwood, LLC, BKD Goodlettsville PropCo, LLC,  BKD Sterling House of Bowling Green, LLC, BKD Sterling House of Waxahachie, LLC, BLC Wellington-Colonial Heights, LLC, BREA Reno LLC, Emerihrt Creekview, LLC, AH Ohio-Columbus Owner, LLC, AH Illinois Owner, LLC, Summerville I, LLC, Emeritol Lo Coeur D’Alene LLC, Emeritol Highland Hills LLC, and Emeritol Ridge Wind LLC participate in Medicare, Medicaid and/or TriCare, all of which are subject to the Federal Assignment of Claims Act.

(c)Schedule 5.19 is deleted and replaced with Schedule 5.19 attached hereto.    

7.Ratification by Borrowers.  The Borrowers hereby (a) renew, ratify and confirm the indebtedness evidenced by the Notes and the other Credit Documents, as modified hereby; (b) acknowledge that the liens and security interests created and evidenced by the Security Documents and other Credit Documents are valid, subsisting and enforceable in accordance with their terms, as modified hereby; (c) acknowledge that as of the Effective Date there are no offsets, claims or defenses to the indebtedness evidenced by the Notes and the other Credit Documents, as modified hereby; (d) acknowledge and agree that Borrowers are, and shall remain, liable for the prompt and timely payment and performance of the indebtedness evidenced by the Notes and the other Credit Documents, as modified hereby; (e) agree that the Credit Documents are and remain in full force and effect, except as expressly modified hereby; and (f) represent and warrant that, after giving effect to the terms and conditions of this Amendment, there are no uncured Events of Default under the Credit Documents and, to each Borrower’s actual knowledge, no event, condition or state of facts exists or has occurred and remains uncured that, with the giving of notice or passage of time or both, would constitute an Event of Default under the Credit Documents.

8.Ratification by Guarantor.  Guarantor joins in the execution and delivery of this 

Page 5

Amendment to (a) evidence its consent to, and agreement with, the terms and conditions of this Amendment and the transactions contemplated hereby; (b) renew, ratify and confirm all the terms, covenants and agreements contained in the Guaranty and the Environmental Indemnity; (c) stipulate and agree that all references in the Guaranty and Environmental Indemnity to (i) the “Loan” shall refer to the Loan, as amended by this Amendment, (ii) the “Credit Agreement” shall refer to the Credit Agreement, as amended by this Amendment, (iii) the “Credit Documents” or any of them shall refer to the Credit Documents as amended by this Amendment, and (iv) any other term, provision or document shall refer to such term, provision or document as amended by this Amendment; and (d) renew, ratify, represent and confirm that (i) each of the Guaranty and Environmental Indemnity is and remains the valid, subsisting and enforceable agreement of Guarantor, enforceable against Guarantor in accordance with its terms, (ii) as of the date hereof there are no offsets, claims or defenses to the Guaranty or Environmental Indemnity, by reason of this Amendment, the transactions contemplated hereby or otherwise, (iii) all representations and warranties of Guarantor in the Guaranty and Environmental Indemnity remain true and correct in all material respects as of the date hereof, (iv) Guarantor has paid and performed all covenants and obligations required to be paid and performed by Guarantor as of the date hereof, and (v) after giving effect to the terms and conditions of this Amendment, no uncured Event of Default exists under the Credit Documents and, to Guarantor’s actual knowledge, no event, condition or state of facts exists or has occurred and remains uncured which, with the giving of notice or passage of time or both, would constitute an Event of Default.

9.Modification of other Credit Documents.  All references in the other Credit Documents to the “Credit Agreement” shall mean the Credit Agreement as modified hereby.

10.Continued Validity; No Waiver.  Except as expressly provided in this Amendment, all terms, conditions, representations, warranties, and covenants contained in the Credit Agreement and the other Credit Documents shall remain in full force and effect, and are hereby ratified, confirmed and acknowledged by the Borrowers.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Credit Documents, nor constitute a waiver of any provision of any of the Credit Documents.

11.Representations and Warranties.  The Borrowers hereby represent and warrant to Administrative Agent and Lenders that (a) (after giving effect to the terms and conditions of this Amendment), no Event of Default exists, (b) all of the representations and warranties set forth in the Credit Agreement (after giving effect to the terms and conditions of this Amendment), are true and correct in all material respects on and as of the date of this Amendment as if made on or as of such date, and (c) the execution, delivery and performance of this Amendment (i) have been authorized by all requisite corporate, partnership, limited liability company and trust action and (ii) do not and will not violate or conflict with, result in a breach of or require any consent under the articles or certificate of incorporation, bylaws, partnership agreement, trust agreement or other organizational documents of Borrowers and their partners and/or members, any applicable laws or any material agreement binding on Borrowers or any of their properties.

12.Fees and Expenses.  Borrowers agree to pay all reasonable fees and expenses 

Page 6

incurred by Administrative Agent and Lenders in connection with the drafting and negotiation of this Amendment, and the transactions contemplated hereby, including, without limitation, (a) a modification fee in the amount of $125,000.00 (representing five hundredths of one percent (0.05%) of the Aggregate Revolving Loan Commitment Amount as of the Effective Date), (b) fees and cost of third-party consultants, accountants or professionals retained by Administrative Agent and Lenders, and (c) reasonable attorneys’ fees and expenses.

13.Construction.  This Amendment and the rights and obligations of the parties hereunder shall be construed and interpreted in accordance with and governed by, the laws of the State of Illinois and any applicable laws of the United States of America.

14.Binding Effect.  This Amendment shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns; provided, however, that Borrowers shall not assign or transfer its rights or obligations hereunder without the prior written consent of the Lender.

15.Counterparts.  This Amendment may be executed in several counterparts, each of which shall be fully effective as an original, and all of which together shall constitute one and the same instrument.

16.NO ORAL AGREEMENTS.  THIS AMENDMENT AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

[REMAINDER OF PAGE INTENTIONALLY BLANK]

Page 7

		
	ADMINISTRATIVE AGENT:
	CAPITAL ONE, NATIONAL ASSOCIATION, 

as Administrative Agent

By: /s/ Carleen Malfettone                
Name: Carleen Malfettone
Title:     Duly Authorized Signatory

                    

LENDERS:                    CAPITAL ONE, NATIONAL ASSOCIATION, 
as a Lender and Swingline Lender

By: /s/ Carleen Malfettone                
Name: Carleen Malfettone
Title:     Duly Authorized Signatory

[Signatures Continued on Next Page]

BANK OF AMERICA, N.A.
By: /s/ Joseph L. Corah                
Name: Joseph L. Corah
Title:     Director

[Signatures Continued on Next Page]

FIRST TENNESSEE BANK, NA

By: /s/ Cathy Wind                    
Name: Cathy Wind
Title:   SVP

[Signatures Continued on Next Page]

GOLDMAN SACHS BANK USA

By: /s/ Jamie Minieri                    
Name: Jamie Minieri                    
Title:    Authorized Signatory                

[Signatures Continued on Next Page]

             MORGAN STANLEY SENIOR FUNDING, INC.

By: /s/ Emanuel Ma                    
Name: Emanuel Ma                    
Title:   Vice President                    

[Signatures Continued on Next Page]

PNC BANK, NATIONAL ASSOCIATION
By: /s/ Siobhan Grillon                
Name: Siobhan Grillion
Title:     Assistant Vice President

[Signatures Continued on Next Page]

WELLS FARGO BANK, NATIONAL ASSOCIATION
By: /s/ Darin Mullis                    
Name: Darin Mullis
Title:   Managing Director

[Signatures Continued on Next Page]

		
	BORROWERS:
	BLC WELLINGTON-COLONIAL HEIGHTS, LLC,

BKD STERLING HOUSE OF WAXAHACHIE, LLC, 
BKD STERLING HOUSE OF BOWLING GREEN, LLC,
BROOKDALE PLACE AT KENWOOD, LLC, 
BREA RENO LLC, 
BREA SUN CITY WEST LLC, 
BREA PALMER RANCH LLC, 
EMERIHRT CREEKVIEW LLC, 
AH NORTH CAROLINA OWNER, LLC,
SUMMERVILLE I LLC,
BKD WEST MELBOURNE PROPCO, LLC,
BKD PATRIOT HEIGHTS, LLC,
BKD SHORELINE, LLC,
AH OHIO-COLUMBUS OWNER, LLC,
AH ILLINOIS OWNER, LLC,
BKD CLARE BRIDGE OF BROOKFIELD, LLC,
BKD GOODLETTSVILLE PROPCO, LLC,
EMERITOL LO COEUR D’ALENE LLC, 
EMERITOL HIGHLAND HILLS LLC,
EMERITOL RIDGE WIND LLC,
each a Delaware limited liability company

By: /s/ George T. Hicks                    
Name:    George T. Hicks
Title:    Executive Vice President

GUARANTOR:        BROOKDALE SENIOR LIVING INC.,
a Delaware corporation

By: /s/ George T. Hicks                    
Name:    George T. Hicks
Title:    Executive Vice President

SCHEDULE I

SCHEDULE OF BORROWERS

	
		
	Borrower
	State of
Organization

	BLC Wellington-Colonial Heights, LLC
	DE

	BKD Sterling House of Waxahachie, LLC
	DE

	BKD Sterling House of Bowling Green, LLC
	DE

	Brookdale Place at Kenwood, LLC
	DE

	BREA Reno LLC
	DE

	BREA Sun City West LLC
	DE

	BREA Palmer Ranch LLC
	DE

	Emerihrt Creekview LLC
	DE

	AH North Carolina Owner, LLC
	DE

	Summerville I LLC
	DE

	BKD West Melbourne PropCo, LLC
	DE

	BKD Patriot Heights, LLC
	DE

	BKD Shoreline, LLC
	DE

	AH Ohio-Columbus Owner, LLC
	DE

	AH Illinois Owner, LLC
	DE

	BKD Clare Bridge of Brookfield, LLC 
	DE

	BKD Goodlettsville PropCo, LLC
	DE

	Emeritol Lo Coeur D’Alene LLC
	DE

	Emeritol Highland Hills LLC
	DE

	Emeritol Ridge Wind LLC
	DE

Schedule 2.01(a)

LENDERS AND REVOLVING LOAN COMMITMENTS

	
			
	Lender
	Revolving Loan
Commitment*
	Pro Rata Share of
Commitment

	Capital One, National Association
	$117,500,000.00
	47.000000000%

	Bank of America, N.A.
	$22,500,000.00
	9.000000000%

	First Tennessee Bank National Association 
	$15,000,000.00
	6.000000000%

	Goldman Sachs Bank USA
	$22,500,000.00
	9.000000000%

	Morgan Stanley Senior Funding, Inc.
	$22,500,000.00
	9.000000000%

	PNC Bank, National Association
	$25,000,000.00
	10.000000000%

	Wells Fargo Bank, N.A.
	$25,000,000.00
	10.000000000%

	Total:
	$250,000,000.00
	100.000000000%

* Subject to Section 2.01(a)(ii) and (iii)

Schedule 5.19

COVERED ENTITIES UNDER HIPAA

BREA Sun City West LLC
BKD Patriot Heights, LLC
BKD Clare Bridge of Brookfield, LLC
BKD Shoreline, LLC
Brookdale Place at Kenwood, LLC
Emeritol Lo Coeur D’Alene LLC
Emeritol Highland Hills LLC
Emeritol Ridge Wind LLCExhibit

Exhibit 10.2

AMENDMENT NO. 3 TO MASTER LEASE AND SECURITY AGREEMENT
(May 2019 Sale of OH/IN Facilities)

THIS AMENDMENT NO. 3 TO MASTER LEASE AND SECURITY AGREEMENT (hereinafter, this “Amendment”) is to be effective as of May 1, 2019 (the “Amendment Date”), by and between each of the signatories hereto identified as Landlord (individually and collectively, “Landlord”), and each of the signatories hereto identified as Tenant (individually and collectively, “Tenant”).
RECITALS
A.Landlord and Tenant are parties to that certain Master Lease and Security Agreement dated as of April 26, 2018, as amended by that certain Amendment No. 1 to Master Lease and Security Agreement effective as of September 1, 2018 and that certain Amendment No. 2 to Master Lease and Security Agreement dated as of April 22, 2019 (as the same has been amended and as it may be hereafter amended, amended and restated, supplemented, replaced or extended from time to time, the “Master Lease”), pursuant to which, among other things, Tenant leases from Landlord the Facilities identified on Exhibit A attached hereto (the “Subject Facilities”), each as more fully identified in the Lease; and

B.Each Landlord identified on Exhibit A hereto, each of whom leases to each Tenant identified on Exhibit A hereto a portion of the Subject Facilities, has entered into a Purchase and Sale Agreement dated March 28, 2019, as amended by that certain First Amendment to Purchase and Sale Agreement dated April 10, 2019 (as so amended, and as may be further amended, modified, supplemented or replaced, the “PSA”), to sell the Subject Facilities to a third party buyer (“Buyer”) pursuant to a closing to occur on May 1, 2019 (the “Closing Date”); and 

C.On the Closing Date, Tenant will cease to operate the Subject Facilities and will transition the operation of each of the Subject Facilities to the Buyer or its designee pursuant to the terms of that certain Operations Transfer Agreement between Tenant and Buyer dated as of May 1, 2019; and 

D.Upon the closing of the transactions contemplated by the PSA and the OTA, the Subject Facilities shall be removed from the Master Lease and deleted from the definition of “Premises” thereunder pursuant to the terms of the Master Lease including, but not limited to, Section 7.4.12 and Exhibit L thereof; and

E.Landlord and Tenant wish to amend the Master Lease to, among other things, reduce the Minimum Rent as of the Closing Date pursuant to the terms of Exhibit L of the Master Lease, all as set forth herein.  

      NOW, THEREFORE, in consideration of the foregoing Recitals, which by this reference are incorporated herein, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
1.Capitalized Terms.  All capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the Master Lease. 

2.Amendments to Master Lease.  

2.1.    Removal of Subject Facilities.  Effective as of the Amendment Date, Landlord and Tenant: (a) agree and consent to the removal of the Subject Facilities from the Master Lease pursuant to the terms of the OTA, PSA and Section 7.4.12 of the Master Lease, and (b) agree and acknowledge that the Subject Facilities are deleted from the definition of “Premises” thereunder pursuant to the terms of Section 7.4.12 of the Master Lease.  

2.2.    Reduction in Minimum Rent. From and after the Closing Date, and without further action of the parties, (i) the annual Minimum Rent under the Master Lease as of the Closing Date shall be decreased by $1,476,420.00 (being the aggregate Sale Facility Rent Reduction for the Subject Facilities), resulting in total annual Minimum Rent immediately following such reduction of $162,552,117.00, and (ii) $790,791.00 of Minimum Rent previously allocated to the Subject Facilities shall be re-allocated to the remaining Facilities in accordance with the terms of Exhibit L of the Master Lease

2.3.    Reduction in Security Deposit. Subject to the reconciliation set forth in Section 2.4 below, the parties acknowledge and agree that as of the Amendment Date, Landlord has refunded Tenant $374,168.00 of the Security Deposit (as defined in the Brookdale Guaranty), which amount represents the proportionate share of the Security Deposit attributable to the Subject Facilities.  

2.4.    Reconciliation.  Within thirty (30) days after the Amendment Date, representatives of Landlord and Tenant shall, in good faith, finalize any required corrections or modifications to the reduction in the Security Deposit amounts set forth in Section 2.3 above, to be determined in accordance with the provisions of the Brookdale Guaranty (the “Final Reduction Amount”).  Throughout the 30-day period leading up to the Final Reduction Amount, each party shall cooperate with the other party in good faith in connection with the preparation and finalization of the Final Reduction Amount.  After approval of the Final Reduction Amount by both parties, the party determined to owe cash or other consideration to the other party, as applicable, as a result of such Final Reduction Amount shall promptly pay such cash to the other party, by wire transfer of immediately available funds or otherwise remit such consideration to the other party (including a reduction of any letter of credit, as applicable) and the parties shall enter into a written instrument to memorialize the Final Reduction Amount if different than the amount set forth above. 

3.Miscellaneous.

3.1.    Integrated Agreement; Modifications; Waivers.  This Amendment, and the Master Lease as amended hereby, constitute the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes any and all prior representations, understandings and agreements, whether written or oral, with respect to such subject matter.  Each of the parties hereto acknowledges that it has not relied upon, in entering into this Amendment, any representation, warranty, promise or condition not specifically set forth in this Amendment.  

3.2.    Sealed Writing.  The parties acknowledge and agree that the Master Lease, as amended by this Amendment, is intended to be a sealed instrument and to comply with Virginia Code Sections 55-2 and 11-3, and shall be interpreted as if the words “this deed of Lease” were included in the body of the Master Lease.

3.3.    Effect of Amendment.  Except as expressly modified in this Amendment, the Master Lease shall remain in full force and effect and is expressly ratified and confirmed by the parties hereto, and Tenant shall lease the Facilities (as modified by this Amendment) from Landlord on the terms 

set forth in the Master Lease (as modified by this Amendment).  In the event of any inconsistencies between the terms of this Amendment and any terms of the Master Lease with respect to the subject matter hereof, the terms of this Amendment shall control.

3.4.    Counterparts.  This Amendment may be executed and delivered (including by facsimile or Portable Document Format (pdf) transmission) in counterparts, all of which executed counterparts shall together constitute a single document. Signature pages may be detached from the counterparts and attached to a single copy of this document to physically form one document. Any such facsimile documents and signatures shall have the same force and effect as manually-signed originals and shall be binding on the parties hereto.

[Signature Pages to Follow]

IN WITNESS WHEREOF, this Amendment has been executed by Landlord and Tenant as of the date first written above.
	
	
	TENANT:

	BLC-THE HALLMARK, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-KENWOOD OF LAKE VIEW, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BROOKDALE SENIOR LIVING COMMUNITIES, INC. a Delaware corporation (f/k/a Alterra Healthcare Corporation and Alternative Living Services, Inc.)

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

ACKNOWLEDGEMENT

STATE OF Tennessee            )
)  :ss.:
COUNTY OF Williamson        )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Brookdale Senior Living Communities, Inc., a Delaware corporation (“Company”), by H. Todd Kaestner, its EVP, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Brentwood, Tennessee, this 30th day of April, 2019. 

(SEAL)                        /s/ Carla Lockridge                
Notary Public

Print Name:    Carla Lockridge            
My commission expires: 19 April 2020        
Acting in the County of: Williamson        

	
	
	BLC-GABLES AT FARMINGTON, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-DEVONSHIRE OF HOFFMAN ESTATES, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-THE BERKSHIRE OF CASTLETON, L.P., a Delaware limited partnership

By:       BLC-The Berkshire of Castleton, LLC, a Delaware
limited liability company, its General Partner

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-SPRINGS AT EAST MESA, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-RIVER BAY CLUB, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-WOODSIDE TERRACE, L.P., a Delaware limited partnership

By:       BLC-Woodside Terrace, LLC, a Delaware
limited liability company, its general partner

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	
	
	BLC-ATRIUM AT SAN JOSE, L.P., a Delaware limited partnership

By:       BLC-Atrium at San Jose, LLC, a Delaware
limited liability company, its general partner

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-BROOKDALE PLACE OF SAN MARCOS, L.P., a Delaware limited partnership

By:       BLC-Brookdale Place of San Marcos, LLC, a
Delaware limited liability company, its general
partner

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-PONCE DE LEON, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-PARK PLACE, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-HAWTHORNE LAKES, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-THE WILLOWS, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	
	
	

BLC-BRENDENWOOD, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BLC-CHATFIELD, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BROOKDALE LIVING COMMUNITIES OF FLORIDA, INC. a Delaware corporation 

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-DNC, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-GV, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	SW ASSISTED LIVING, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	SUMMERVILLE AT FAIRWOOD MANOR, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	
	
	SUMMERVILLE AT HERITAGE PLACE, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	SUMMERVILLE 5 LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	SUMMERVILLE 4 LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	SUMMERVILLE 14 LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President            

	SUMMERVILLE 15 LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	SUMMERVILLE 16 LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President                

	SUMMERVILLE 17 LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President            

	
	
	SUMMERVILLE AT RIDGEWOOD GARDENS LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	ALS PROPERTIES TENANT I, LLC, 
a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

ACKNOWLEDGEMENT

STATE OF Tennessee            )
)  :ss.:
COUNTY OF Williamson        )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared ALS Properties Tenant I, LLC, a Delaware limited liability company (“Company”), by H. Todd Kaestner, its EVP, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Brentwood, Tennessee, this 30th day of April, 2019. 

(SEAL)                        /s/ Carla Lockridge                
Notary Public

Print Name:    Carla Lockridge            
My commission expires: 19 April 2020        
Acting in the County of: Williamson        

	
	
	ALS PROPERTIES TENANT II, LLC, a Delaware limited liability company

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	ALS LEASING, INC., a Delaware corporation 

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

ACKNOWLEDGEMENT

STATE OF Tennessee            )
)  :ss.:
COUNTY OF Williamson        )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared ALS Leasing, Inc., a Delaware corporation (“Company”), by H. Todd Kaestner, its EVP, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Brentwood, Tennessee, this 30th day of April, 2019. 

(SEAL)                        /s/ Carla Lockridge                
Notary Public

Print Name:    Carla Lockridge            
My commission expires: 19 April 2020        
Acting in the County of: Williamson        

	
	
	ASSISTED LIVING PROPERTIES, INC., a Kansas corporation 

By: /s/ H. Todd Kaestner                       
Name: H. Todd Kaestner                       
Title:   Executive Vice President           

	
	
	LANDLORD:

	VENTAS REALTY, LIMITED PARTNERSHIP, a Delaware limited partnership

By: Ventas, Inc., a Delaware corporation, its general partner

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	
	
	PSLT-ALS PROPERTIES I, LLC, a Delaware limited liability company 
By: PSLT-ALS Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

ACKNOWLEDGEMENT

STATE OF Illinois            )
)  :ss.:
COUNTY OF Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Ventas Provident, LLC, a Delaware limited liability company (“Company”), the sole member of PSLT GP, LLC, the general partner of PSLT OP, L.P., the sole member of PSLT-ALS Properties Holdings, LLC, the sole member of PSLT-ALS Properties I, LLC, by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 29th day of April, 2019. 

(SEAL)                        /s/ Theresa M. Kwasinski                
Notary Public

Print Name:    Theresa M. Kwasinski        
My commission expires: 8/5/2022        
Acting in the County of: Cook            

	
	
	PSLT-ALS PROPERTIES II, LLC, a Delaware limited liability company
By: PSLT-ALS Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	PSLT-ALS PROPERTIES IV, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	PSLT-ALS PROPERTIES III, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

ACKNOWLEDGEMENT

STATE OF Illinois            )
)  :ss.:
COUNTY OF Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared PSLT-ALS PROPERTIES III, LLC, a Delaware limited liability company (“Company”), which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 29th day of April, 2019. 

(SEAL)                        /s/ Theresa M. Kwasinski                
Notary Public

Print Name:    Theresa M. Kwasinski        
My commission expires: 8/5/2022        
Acting in the County of: Cook            

	
	
	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-2960, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-HV, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   Manager                                      

	
	
	RIVER OAKS PARTNERS, an Illinois general partnership
By: Brookdale Holdings, LLC, its managing partner
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF MINNESOTA, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member  

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF CONNECTICUT, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	PSLT-BLC PROPERTIES HOLDINGS, LLC, a Delaware limited liability company
By: PSLT OP, L.P., its sole member 
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	 

	
	
	THE PONDS OF PEMBROKE LIMITED PARTNERSHIP, an Illinois general partnership
By: Brookdale Holdings, LLC, its general partner
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF ARIZONA-EM, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member 
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF MASSACHUSETTS-RB, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	 

	
	
	BROOKDALE LIVING COMMUNITIES OF CALIFORNIA-RC, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member 
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF CALIFORNIA, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BLC OF CALIFORNIA-SAN MARCOS, L.P., a Delaware limited partnership
By: Brookdale Living Communities of California-San Marcos, LLC, its general partner
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	 

	
	
	BROOKDALE LIVING COMMUNITIES OF WASHINGTON-PP, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-II, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF NEW JERSEY, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	BROOKDALE LIVING COMMUNITIES OF FLORIDA-CL, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	
	
	NATIONWIDE HEALTH PROPERTIES, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

ACKNOWLEDGEMENT

STATE OF Illinois            )
)  :ss.:
COUNTY OF Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Nationwide Health Properties, LLC, a Delaware limited liability company (“Company”), by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 29th day of April, 2019. 

(SEAL)                        /s/ Theresa M. Kwasinski                
Notary Public

Print Name:    Theresa M. Kwasinski        
My commission expires: 8/5/2022        
Acting in the County of: Cook            

	
	
	2010 UNION LIMITED PARTNERSHIP, a Washington limited partnership
By: Nationwide Health Properties, LLC, its general partner

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	NH TEXAS PROPERTIES LIMITED PARTNERSHIP, a Texas limited partnership
By: MLD Texas Corporation, its general partner

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	MLD PROPERTIES, INC., a Delaware corporation

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	JER/NHP SENIOR LIVING ACQUISITION, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

ACKNOWLEDGEMENT

STATE OF Illinois            )
)  :ss.:
COUNTY OF Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared JER/NHP Senior Living Acquisition, LLC, a Delaware limited liability company (“Company”), by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 29th day of April, 2019. 

(SEAL)                        /s/ Theresa M. Kwasinski                
Notary Public

Print Name:    Theresa M. Kwasinski        
My commission expires: 8/5/2022        
Acting in the County of: Cook            

	
	
	JER/NHP SENIOR LIVING KANSAS, INC., a Kansas corporation

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	JER/NHP SENIOR LIVING TEXAS, L.P., a Texas limited partnership
By: JER/NHP Management Texas, LLC, its general partner

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	MLD PROPERTIES LIMITED PARTNERSHIP, a Delaware limited partnership
By: MLD Properties II, Inc., its general partner

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	
	
	NHP MCCLAIN, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

ACKNOWLEDGEMENT

STATE OF Illinois            )
)  :ss.:
COUNTY OF Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared NHP MCCLAIN, LLC, a Delaware limited liability company (“Company”), by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 29th day of April, 2019. 

(SEAL)                        /s/ Theresa M. Kwasinski                
Notary Public

Print Name:    Theresa M. Kwasinski        
My commission expires: 8/5/2022        
Acting in the County of: Cook            

	
	
	VENTAS FAIRWOOD, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	VENTAS FRAMINGHAM, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	VENTAS WHITEHALL ESTATES, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

	VTR-EMRTS HOLDINGS, LLC, a Delaware limited liability company

By: /s/ Christian N. Cummings              
Name: Christian N. Cummings              
Title:   President                                     

CONSENT AND REAFFIRMATION OF GUARANTOR 
THIS CONSENT AND REAFFIRMATION OF GUARANTOR (this “Reaffirmation”) is entered into concurrently with and is attached to and hereby made a part of Amendment No. 3 to Lease dated as of April 30, 2019 (the “Lease Amendment”) between Landlord and Tenant (both, as defined therein).
BROOKDALE SENIOR LIVING INC., a Delaware corporation (“Guarantor”) executed and delivered that certain Guaranty dated as of April 26, 2018 (the “Guaranty”), pursuant to which Guarantor guarantied for the benefit of Landlord, the obligations of Tenant under the Lease.
FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Guarantor hereby acknowledges, reaffirms and agrees:
1.Capitalized terms used but not defined in this Reaffirmation shall have the same meanings for purposes of this Reaffirmation as provided in or for purposes of the Lease Amendment.

2.Guarantor hereby (i) acknowledges and consents to the Lease Amendment, (ii) reaffirms its obligations under the Guaranty with respect to the Lease as amended by the Lease Amendment, and (iii) confirms that the Guaranty remains in full force and effect. 

3.Although Guarantor has been informed of the terms of the Lease Amendment, Guarantor understands and agrees that Landlord has no duty to so notify it or to seek this or any future acknowledgment, consent or reaffirmation, and nothing contained herein shall create or imply any such duty as to any transactions, past or future.

Guarantor has executed this Consent and Reaffirmation of Guarantor effective as of the Amendment Date.
GUARANTOR:
BROOKDALE SENIOR LIVING INC.,
a Delaware corporation

By:    /s/ H. Todd Kaestner            
Name:    H. Todd Kaestner            
Title:    Executive Vice President        

Exhibit A
Subject Properties
	
				
	Subject Facility
	Address
	Landlord
	Tenant

	Marion (IN)
	2452 West Kem Road, Marion, IN, 46952
	PSLT-ALS Properties I, LLC
	ALS Properties Tenant I, LLC

	Marion (OH)
	308 Barks Road East, Marion, OH, 43302
	JER/NHP Senior Living Acquisition, LLC
	Assisted Living Properties, Inc.

	Castleton
	8480 Craig Street, Indianapolis, IN, 46250
	PSLT-BLC Properties Holdings, LLC
	BLC-The Berkshire of Castleton, L.P.

	Evansville
	6521 Greendale Drive, Evansville, IN, 47711
	PSLT-ALS Properties III, LLC
	ALS Properties Tenant I, LLC

	Portage
	3444 Swanson Road, Portage, IN, 46368
	PSLT-ALS Properties I, LLC
	ALS Properties Tenant I, LLC

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}]]