Document:

EX-10.5

(The above space is reserved for recording purposes only)

This is a mortgage amendment as defined in Minnesota Statutes, Section 287.01, Subdivision 2, and
as such, it does not secure a new or an increased amount of debt. Minn. Stat. § 287.05, Subd. 8.

MODIFICATION OF THIRD-PARTY MORTGAGE, SECURITY AGREEMENT, FIXTURE FINANCING STATEMENT AND
ASSIGNMENT OF LEASES AND RENTS

THIS MODIFICATION OF THIRD-PARTY MORTGAGE, SECURITY AGREEMENT, FIXTURE FINANCING STATEMENT AND
ASSIGNMENT OF LEASES AND RENTS (the “Modification Agreement”), effective March 31, 2010, is by and
between G&E HEALTHCARE REIT II SARTELL MOB, LLC, a Delaware limited liability company (the
“Mortgagor”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (the
“Mortgagee”).

RECITALS

FIRST: Sylvan Holdings, LLC granted the Mortgagee that certain Mortgage, Security Agreement,
Fixture Financing Statement and Assignment of Leases and Rents dated September 16, 2005, and
recorded in the office of the County Recorder for Stearns County, Minnesota on September 28, 2005,
as Document No. 1169890 which was assumed (as mortgagor) by Stingray Properties, LLC (the
“Borrower”) under a Consent and Assumption Agreement dated July 1, 2006 recorded in the office of
the County Recorder for Stearns County, Minnesota on September 28, 2006, as Document No. 1207487
(collectively, the “Mortgage”). The Mortgage is a lien on the real property legally described on
Exhibit A attached hereto (the “Property”).

SECOND: The Borrower has conveyed the Property to Mortgagor and Mortgagor has assumed the
Borrower’s obligations under the Mortgage to the extent provided in a Consent and Assumption
Agreement dated the date hereof (as the same may be amended, restated or replaced from time to
time, the “Consent Agreement”).

THIRD: The Mortgagee has consented to such conveyance, subject, however, to certain terms and
conditions, including this Modification Agreement.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Mortgagor and the Mortgagee hereby agrees as follows:

1. Non-Borrower Mortgagor Rider. The following covenant and agreement is hereby inserted
into the Mortgage. Mortgagor agrees to and agrees to perform the covenants and agreements
contained in a rider attached hereto as Exhibit B.

2. Additional Events of Default. In addition to the existing Events of Default, each of
the following shall be an Event of Default under the Mortgage:

	 	(a)	 	If, following written notice from Mortgagee and twenty (20) days thereafter
during which Mortgagor may cure, Mortgagor fails to perform or observe any obligation
under the Consent and Assumption Agreement.

	 	(b)	 	If, following written notice from Mortgagee and twenty (20) days thereafter
during which Mortgagor may cure, Mortgagor fails to perform or observe any obligation
under the Replacement Reserve Agreement (as such term is defined in the Consent and
Assumption Agreement).

	 	(c)	 	If, following written notice from Mortgagee and twenty (20) days thereafter
during which Mortgagor may cure, Mortgagor fails to perform or observe any obligation
under contract, instrument or agreement with the Borrower or any guarantor of the
Indebtedness (each, a “Guarantor”).

	3.	 	Deletion. Section 16(g) of the Mortgage is hereby deleted in its entirety.

	4.	 	All Other Terms in Full Force and Effect. Except as expressly modified by this
Modification Agreement, all terms and conditions of the Mortgage shall remain unchanged and in
full force and effect.

	5.	 	Counterparts. This Modification Agreement may be executed in multiple counterparts,
each of which shall be deemed an original.

[The remainder of this page is intentionally blank. Signature page follows.]

1

IN WITNESSETH WHEREOF, the Mortgagor and the Mortgagee have executed this Modification Agreement as
of the dates set forth below.

MORTGAGEE:

WELLS FARGO BANK, NATIONAL ASSOCIATION

By: /s/ Roxanne Muehebauer

Its: Assistant Vice President

	 	 	 	 	 
	STATE OF MINNESOTA
	 	 	)	 
	 
	 	) ss

COUNTY OF Sterns)

The foregoing instrument was acknowledged before me this 30th day of March 2010 by
Roxanne Muehebauer, the Assistant Vice President of Wells Fargo Bank, National Association, a
national banking association, on behalf of the association.

/s/ Nancy L. Spaeth

Notary Public

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MORTGAGOR:

G&E HEALTHCARE REIT II SARTELL MOB, LLC,

a Delaware limited liability company

By: /s/ Danny Prosky

Name: Danny Prosky

Its: Authorized Signatory

Address: c/o Grubb & Ellis Equity Advisors, LLC

1551 North Tustin Avenue, Suite 200

Santa Ana, California 92705

Attn: Danny Prosky

	 	 	 	 	 
	STATE OF CALIFORNIA
	 	 	)	 
	 
	 	) ss
	COUNTY OF ORANGE
	 	 	)	 

The foregoing instrument was acknowledged before me this 30th day of March, 2010 by
Danny Prosky in his capacity as the Authorized Signatory of G&E Healthcare REIT II Sartell MOB,
LLC, a Delaware limited liability company.

/s/ P.C. Han

Notary Public

This Instrument was drafted by:

Nilsson Midness, P.A.

900 Flour Exchange Building

310 Fourth Avenue South

Minneapolis, MN 55415

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EXHIBIT A

Legal Description

Lots One (1), Two (2) and Three (3), Block One (1), REGIONAL MEDICAL ARTS CAMPUS, according to the
plat and survey thereof on file and of record in the office of the County Recorder in and for
Stearns County, Minnesota.

Abstract Property

4

EXHIBIT B

NON-BORROWER MORTGAGOR RIDER

Exhibit B to Mortgage assumed by G&E HEALTHCARE REIT II SARTELL MOB, LLC, as Mortgagor, to WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Mortgagee, dated as of September 16, 2005.

To the extent the Mortgage secures a promissory note and other loan documents (“Loan Documents”)
made by a party or parties (“Borrower”) not identical to the party or parties constituting
Mortgagor, the party or parties constituting Mortgagor agree as follows:

	1.	 	CONDITIONS TO EXERCISE OF RIGHTS. Mortgagor hereby waives any right it may now or
hereafter have to require Mortgagee, as a condition to the exercise of any remedy or other
right against Mortgagor hereunder or under any other document executed by Mortgagor in
connection with any Indebtedness: (a) to proceed against any Borrower or other person, or
against any other collateral assigned to Mortgagee by Mortgagor or any Borrower or other
person; (b) to pursue any other right or remedy in Mortgagee’s power; (c) to give notice of
the time, place or terms of any public or private sale of real or personal property collateral
assigned to Mortgagee by any Borrower or other person (other than Mortgagor), or otherwise to
comply with the UCC (as modified or recodified from time to time) with respect to any such
personal property collateral; or (d) to make or give (except as otherwise expressly provided
in the Loan Documents) any presentment, demand, protest, notice of dishonor, notice of protest
or other demand or notice of any kind in connection with any Indebtedness or any collateral
(other than the Mortgaged Property) for any Indebtedness.

	2.	 	DEFENSES. Mortgagor hereby waives any defense it may now or hereafter have that
relates to: (a) any disability or other defense of any Borrower or other person; (b) the
cessation, from any cause other than full performance, of the obligations of Borrower or any
other person; (c) the application of the proceeds of any Indebtedness, by any Borrower or
other person, for purposes other than the purposes represented to Mortgagor by any Borrower or
otherwise intended or understood by Mortgagor or any Borrower; (d) any act or omission by
Mortgagee which directly or indirectly results in or contributes to the release of any
Borrower or other person or any collateral for any Indebtedness; (e) the unenforceability or
invalidity of any collateral assignment (other than this Mortgage) or guaranty with respect to
any Indebtedness, or the lack of perfection or continuing perfection or lack of priority of
any lien (other than the lien hereof) which secures any Indebtedness; (f) any failure of
Mortgagee to marshal assets in favor of Mortgagor or any other person; (g) any modification of
any Indebtedness, including any renewal, extension, acceleration or increase in interest rate;
(h) any and all rights and defenses arising out of an election of remedies by Mortgagee, even
though that election of remedies, has destroyed Mortgagor’s rights of subrogation and
reimbursement against the principal; (i) any law which provides that the obligation of a
surety or guarantor must neither be larger in amount nor in other respects more burdensome
than that of the principal or which reduces a surety’s or guarantor’s obligation in proportion
to the principal obligation; (j) any failure of Mortgagee to file or enforce a claim in any
bankruptcy or other proceeding with respect to any person; (k) the election by Mortgagee, in
any bankruptcy proceeding of any person, of the application or non-application of Section
1111(b)(2) of the United States Bankruptcy Code; (l) any extension of credit or the grant of
any lien under Section 364 of the United States Bankruptcy Code; (m) any use of cash
collateral under Section 363 of the United States Bankruptcy Code; or (n) any agreement or
stipulation with respect to the provision of adequate protection in any bankruptcy proceeding
of any person. Without limiting the generality of the foregoing or any other provision
hereof, Mortgagor further expressly waives to the extent permitted by law until such time as
all Indebtedness is fully performed any and all rights and defenses, including without
limitation any rights of subrogation, reimbursement, indemnification and contribution, which
might otherwise be available to Mortgagor.

	3.	 	SUBROGATION. Mortgagor hereby waives, until such time as all Indebtedness are fully
performed: (a) any right of subrogation against any Borrower that relates to any Indebtedness;
(b) any right to enforce any remedy Mortgagor may now or hereafter have against any Borrower
that relates to any Indebtedness; and (c) any right to participate in any collateral now or
hereafter assigned to Mortgagee with respect to any Indebtedness other than the receipt of
Permitted Payments. So long as no Event of Default has occurred and is continuing, Mortgagor
may receive regularly scheduled payments under leases of the Mortgaged Property in compliance
with Section 22 of the Mortgage (“Permitted Payments”).

	4.	 	BORROWER INFORMATION. Mortgagor warrants and agrees: (a) that Mortgagee would not
consent to the transfer of the Property to Mortgagor but for Mortgagor’s assumption of this
Mortgage; (b) that Mortgagor has not relied, and will not rely, on any representations or
warranties by Mortgagee to Mortgagor with respect to the credit worthiness of any Borrower or
the prospects of repayment of any Indebtedness from sources other than the Mortgaged Property;
(c) that if Mortgagor deems it necessary of advisable to do so, Mortgagor has established
and/or will establish adequate means of obtaining from each Borrower on a continuing basis
financial and other information pertaining to the business operations, if any, and financial
condition of each Borrower; (d) that Mortgagor assumes full responsibility for keeping
informed with respect to each Borrower’s business operations, if any, and financial condition;
(e) except as expressly set forth in the Copies of Notices paragraph of the Consent Agreement,
Mortgagee shall have no duty to disclose or report to Mortgagor any information now or
hereafter known to Mortgagee with respect to any Borrower, including, without limitation, any
information relating to any of Borrower’s business operations or financial condition; and (f)
that Mortgagor is familiar with the terms and conditions of the Loan Documents and consents to
all provisions thereof.

	5.	 	Reserved.

	6.	 	SUBORDINATION. Until all of the Indebtedness have been fully paid and performed: (a)
Mortgagor hereby agrees that all existing and future indebtedness and other obligations of
each Borrower and each Guarantor to Mortgagor and any guaranties thereof from any party in
favor of Mortgagor (collectively, the “Subordinated Debt”) shall be and are hereby
subordinated to all Indebtedness which constitute obligations of the applicable Borrower and
guarantor, and except for Permitted Payments the payment thereof is hereby deferred in right
of payment to the prior payment and performance of all such Indebtedness; (b) other than
receiving Permitted Payments, Mortgagor shall not collect or receive any cash or non-cash
payments from any obligor on any Subordinated Debt or transfer all or any portion of the
Subordinated Debt; and (c) in the event that, notwithstanding the foregoing, any payment
(other than Permitted Payment) by, or distribution of assets of, any obligor with respect to
any Subordinated Debt is received by Mortgagor, such payment or distribution shall be held in
trust and immediately paid over to Mortgagee, is hereby assigned to Mortgagee as security for
the Indebtedness, and shall be held by Mortgagee in an interest bearing account until all
Indebtedness have been fully paid and performed or applied to the Indebtedness as permitted
under the Loan documents.

7. HAZARDOUS MATERIALS.

	 	a.	 	Special Representations and Warranties. Without in any way limiting the
other representations and warranties set forth in this Mortgage, and after reasonable
investigation and inquiry, Mortgagor hereby specifically represents and warrants to the
best of Mortgagor’s knowledge as of the date of this Rider as follows:

	 	(i)	 	Hazardous Materials. Except for commercially reasonable amounts,
the Mortgaged Property is not and has not been a site for the use, generation,
manufacture, storage, treatment, release, threatened release, discharge,
disposal, transportation or presence of any oil, flammable explosives, asbestos,
urea formaldehyde insulation, radioactive materials, hazardous wastes, toxic or
contaminated substances or similar materials, including, without limitation, any
substances which are “hazardous substances,” “hazardous wastes,” “hazardous
materials,” “toxic substances,” “wastes,” “regulated substances,” “industrial
solid wastes,” or “pollutants” under the Hazardous Materials Laws, as described
below, and/or other applicable environmental laws, ordinances and regulations
(collectively, the “Hazardous Materials”).

	 	(ii)	 	Hazardous Materials Laws. The Mortgaged Property is in material
compliance with all applicable laws, ordinances and regulations relating to
Hazardous Materials (“Hazardous Materials Laws”), including, without limitation:
the Clean Air Act, as amended, 42 U.S.C. Section 7401 et seq.;
the Federal Water Pollution Control Act, as amended, 33 U.S.C. Section 1251
et seq.; the Resource Conservation and Recovery Act of 1976, as
amended, 42 U.S.C. Section 6901 et seq.; the Comprehensive
Environment Response, Compensation and Liability Act of 1980, as amended
(including the Superfund Amendments and Reauthorization Act of 1986, “CERCLA”),
42 U.S.C. Section 9601 et seq.; the Toxic Substances Control Act,
as amended, 15 U.S.C. Section 2601 et seq.; the Occupational
Safety and Health Act, as amended, 29 U.S.C. Section 651, the Emergency Planning
and Community Right-to-Know Act of 1986, 42 U.S.C. Section 11001 et
seq.; the Mine Safety and Health Act of 1977, as amended, 30 U.S.C.
Section 801 et seq.; the Safe Drinking Water Act, as amended, 42
U.S.C. Section 300f et seq.; and all applicable comparable state
and local laws, laws of other jurisdictions or orders and regulations.

	 	(iii)	 	Hazardous Materials Claims. There are no claims or actions
(“Hazardous Materials Claims”) pending or threatened against Mortgagor or the
Mortgaged Property by any governmental entity or agency or by any other person or
entity relating to Hazardous Materials or pursuant to the Hazardous Materials
Laws.

b. Hazardous Materials Covenants. Mortgagor agrees as follows:

	 	(i)	 	No Hazardous Activities. Mortgagor shall not cause or permit the
Mortgaged Property to be used as a site for the use, generation, manufacture,
storage, treatment, release, discharge, disposal, transportation or presence of
any Hazardous Materials.

	 	(ii)	 	Compliance. Mortgagor shall comply and cause the Mortgaged Property
to comply in all material respects with all Hazardous Materials Laws.

	 	(iii)	 	Notices. Mortgagor shall immediately notify Mortgagee in writing
of: (A) the discovery of any Hazardous Materials on, under or about the Mortgaged
Property which may have a material, adverse affect on the Mortgaged Property; (B)
any knowledge by Mortgagor that the Mortgaged Property does not comply with any
Hazardous Materials Laws; and (C) any Hazardous Materials Claims.

	 	(iv)	 	Remedial Action. In response to the presence of any Hazardous
Materials on, under or about the Mortgaged Property, Mortgagor shall immediately
take, at Mortgagor’s sole expense, all remedial action required by any Hazardous
Materials Laws or any judgment, consent decree, settlement or compromise in
respect to any Hazardous Materials Claims.

	 	c.	 	Inspection By Mortgagee. Upon reasonable prior notice to Mortgagor,
Mortgagee, its employees and agents, may from time to time (whether before or after the
commencement of a nonjudicial or judicial foreclosure proceeding) enter and inspect the
Mortgaged Property for the purpose of determining the existence, location, nature and
magnitude of any past or present release or threatened release of any Hazardous
Materials into, onto, beneath or from the Mortgaged Property.

	 	d.	 	Hazardous Materials Indemnity. MORTGAGOR HEREBY AGREES TO DEFEND,
INDEMNIFY AND HOLD HARMLESS MORTGAGEE, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS,
SUCCESSORS AND ASSIGNS FROM AND AGAINST ANY AND ALL LOSSES, DAMAGES, LIABILITIES,
CLAIMS, ACTIONS, JUDGMENTS, COURT COSTS AND LEGAL OR OTHER EXPENSES (INCLUDING, WITHOUT
LIMITATION, REASONABLE ATTORNEYS’ FEES AND EXPENSES) WHICH MORTGAGEE MAY INCUR AS A
DIRECT OR INDIRECT CONSEQUENCE OF THE USE, GENERATION, MANUFACTURE, STORAGE, DISPOSAL,
THREATENED DISPOSAL, TRANSPORTATION OR PRESENCE OF HAZARDOUS MATERIALS IN, ON, UNDER OR
ABOUT THE SUBJECT PROPERTY. MORTGAGOR SHALL IMMEDIATELY PAY TO MORTGAGEE UPON DEMAND
ANY AMOUNTS OWING UNDER THIS INDEMNITY, TOGETHER WITH INTEREST FROM THE DATE THE
INDEBTEDNESS ARISES UNTIL PAID AT THE RATE OF INTEREST APPLICABLE TO THE PRINCIPAL
BALANCE OF THE NOTE. MORTGAGOR’S DUTY AND OBLIGATIONS TO DEFEND, INDEMNIFY AND HOLD
HARMLESS MORTGAGEE SHALL SURVIVE THE CANCELLATION OF THE NOTE AND THE RELEASE OR PARTIAL
RECONVEYANCE OF THE MORTGAGE.

	 	e.	 	Legal Effect of Section. Mortgagor and Mortgagee agree that Mortgagor’s
duty to indemnify Mortgagee hereunder shall survive: (i) any judicial or non-judicial
foreclosure under the Mortgage, or transfer of the Mortgaged Property in lieu thereof,
(ii) the release or cancellation of the Mortgage; and (iii) the satisfaction of all of
Mortgagor’s obligation under the Loan Documents.

	8.	 	LAWFULNESS AND REASONABLENESS. Mortgagor warrants that all of the waivers in this
Mortgage are made with full knowledge of their significance, and of the fact that events
giving rise to any defense or other benefit waived by Mortgagor may destroy or impair rights
which Mortgagor would otherwise have against Mortgagee, Borrower and other persons, or against
collateral. Mortgagor agrees that all such waivers are reasonable under the circumstances and
further agrees that, if any such waiver is determined (by a court of competent jurisdiction)
to be contrary to any law or public policy, the other waivers herein shall nonetheless remain
in full force and effect.

	9.	 	ENFORCEABILITY. Mortgagor hereby acknowledges that: (a) the obligations undertaken
by Mortgagor in this Mortgage are complex in nature, and (b) numerous possible defenses to the
enforceability of these obligations may presently exist and/or may arise hereafter, and (c) as
part of Mortgagee’s consideration for entering into this transaction, Mortgagee has
specifically bargained for the waiver and relinquishment by Mortgagor of all such defenses,
and (d) Mortgagor has had the opportunity to seek and receive legal advice from skilled legal
counsel in the area of financial transactions of the type contemplated herein. Given all of
the above, Mortgagor does hereby represent and confirm to Mortgagee that Mortgagor is fully
informed regarding, and that Mortgagor does thoroughly understand: (i) the nature of all such
possible defenses, and (ii) the circumstances under which such defenses may arise, and (iii)
the benefits which such defenses might confer upon Mortgagor, and (iv) the legal consequences
to Mortgagor of waiving such defenses. Mortgagor acknowledges that Mortgagor makes this
Mortgage with the intent that this Mortgage and all of the informed waivers herein shall each
and all be fully enforceable by Mortgagee, and that Mortgagee is induced to enter into this
transaction in material reliance upon the presumed full enforceability thereof.

	10.	 	DISCLOSURE OF INFORMATION; PARTICIPATIONS. Mortgagor understands and agrees that
Mortgagee may elect, at any time, to sell, assign, or participate all or any part of
Mortgagee’s interest in the Loan, and that any such sale, assignment or participation may be
to one or more financial institutions, private investors, and/or other entities, at
Mortgagee’s sole discretion. Mortgagor further agrees that Mortgagee may disseminate to any
such potential purchaser(s), assignee(s) or participant(s) all documents and information
(including, without limitation, all financial information) which has been or is hereafter
provided to or known to Mortgagee with respect to: (a) the Mortgaged Property and its
operation; (b) any party connected with the Loan (including, without limitation, the
Mortgagor, the Borrower, any partner of Borrower and any guarantor); and/or (c) any lending
relationship other than the Loan which Mortgagee may have with any party connected with the
Loan.

	11.	 	WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY TO THIS MORTGAGE, AND BY ITS ACCEPTANCE
HEREOF, MORTGAGEE, HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION (a) ARISING UNDER THE LOAN DOCUMENTS, INCLUDING, WITHOUT LIMITATION,
ANY PRESENT OR FUTURE MODIFICATION THEREOF OR (b) IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THE LOAN
DOCUMENTS (AS NOW OR HEREAFTER MODIFIED) OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT
EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO,
IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR
TORT OR OTHERWISE; AND EACH PARTY AND MORTGAGEE HEREBY AGREES AND CONSENTS THAT ANY PARTY TO
THIS MORTGAGE AND MORTGAGEE MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH
ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO AND MORTGAGEE TO THE WAIVER
OF THEIR RIGHT TO TRIAL BY JURY.

	12.	 	INTEGRATION; INTERPRETATION. This Mortgage and the other Loan Documents contain or
expressly incorporate by reference the entire agreement of the parties with respect to the
matters contemplated therein and supersede all prior negotiations or agreements, written or
oral. This Mortgage and the other Loan Documents shall not be modified except by written
instrument executed by all parties. Any reference to the Loan Documents includes any
amendments, renewals or extensions now or hereafter approved by Mortgagee in writing.

5EX-10.6

	 	 	 	 	 
	 W
	 	ELLS FARGO BANK, CONSEN

NATIONAL ASSOCIATION
	 	T AND ASSUMPTION

AGREEMENT WITH G&E

HEALTHCARE REIT II

SARTELL MOB, LLC

	 
	 	 
	 	 

THIS CONSENT AND ASSUMPTION AGREEMENT (the “Consent Agreement”), effective MARCH 31, 2010 (the
“Effective Date”), is between G&E HEALTHCARE REIT II SARTELL MOB, LLC, a Delaware limited liability
company (the “Buyer”), STINGRAY PROPERTIES, LLC (the “Borrower”) and WELLS FARGO BANK, NATIONAL
ASSOCIATION (the “Bank”).

RECITALS

FIRST: Pursuant to that Construction – Term Loan Agreement effective September 16, 2005, as
amended by that certain deletion of loan covenant letter agreement dated June 4, 2007, as further
amended by that certain First Amendment to Credit Agreement dated September 17, 2009, effective
June 30 2009, as further amended by that certain Second Amendment to Credit Agreement dated the
date hereof (as amended, the “Loan Agreement”), the Bank granted the Borrower a $4,000,000.00
construction – term loan (the “Loan”) to finance the construction of improvements to the property
legally described on Exhibit A attached hereto (the “Property”).

SECOND: The Borrower’s obligation to repay the Loan is evidenced by that certain Construction Loan
Note dated of even date with the Loan Agreement and in the original principal amount of
$4,000,000.00, as amended by that certain Note Modification Agreement dated July 1, 2006, as
further amended by that certain Second Note Modification Agreement dated August 15, 2006 (as
amended, the “Note”). Payment of the Note, in turn, is secured by that certain Third Party
Mortgage, Security Agreement, Fixture Financing Statement, and Assignment of Leases and Rents dated
September 16, 2005 on the Property as amended by that certain Consent and Assumption Agreement
dated July 1, 2006 (as amended, the “Mortgage”). The Note is guaranteed by the individual Guaranty
of each of the Guarantors, as defined in the Loan Agreement, Sylvan Holdings, LLC, Crystal Blue
Properties, LLC, Ronald Berg, Gary Verkinnes, Dr. Jeffrey Gerdes, and Dr. Samir Elghor.

THIRD: The Borrower and the Buyer desire that the Property be conveyed from the Borrower to the
Buyer and have requested that the Bank consent to such transfer. The Bank has agreed to the
request, subject, however, to certain terms and conditions.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Borrower, the Buyer and the Bank agree as follows:

1. Mortgage Assumption. The Bank hereby consents to the sale, transfer, and conveyance
of the Property by the Borrower to the Buyer, provided, however, that the Buyer hereby agrees to
assume all obligations of the Borrower under the Mortgage, which obligations the Buyer hereby
affirms and assumes. Notwithstanding the foregoing, the Borrower, the Buyer and the Bank agree
that the Buyer is expressly not assuming personal liability to the Bank to repay the Note.

2. Status of the Loan. As of the Effective Date, the Bank represents to the Buyer in good faith
that: (a) Exhibit B sets forth a list of all material documents, instruments and agreements related
to the Loan; and (b) after giving effect to amendments dated the date hereof, the Bank has no
actual knowledge of any Event of Default under the Loan Agreement or the Mortgage; provided,
however, that Bank shall bear no liability of any kind with respect to such representations and
that such representations do not constitute a waiver of any provision or term of the Loan Agreement
or the Mortgage any related document.

3. Direct Communication and Payment. The Bank and the Borrower authorize and consent to the Bank
communicating directly with the Buyer, and the Buyer communicating directly with the Bank, with
respect to any matters related to the Loan or the Property that otherwise would be handled
exclusively between the Bank and the Borrower. The Buyer may make (and the Bank will accept)
payments related to the Loan otherwise required to be made by the Borrower.

4. Copies of Notices. Any notices required to be given by the Bank to the Buyer under the
Mortgage will be sent to the Buyer at the address set forth under the Buyer’s signature below or
such other address as the Buyer may designate by written notice to the Bank from time to time (the
“Buyer’s Notice Address”) with a copy substantially contemporaneously to the Borrower. Any notices
required to be given by the Bank to the Borrower under the Note, the Loan Agreement and/or any
Related Agreement will be sent to the Borrower as provided in the applicable loan document with a
copy substantially contemporaneously to the Buyer at the Buyer’s Notice Address.

5. Supplemental Buyer Cure Period. Notwithstanding anything to the contrary in the Mortgage, a
default defined as an Event of Default under subsection (h) of the Mortgage, other than a default
defined herein as an “Immediate Default,” shall not be considered an Event of Default under the
Mortgage until twenty (20) days following the occurrence of such default and notice to Buyer, and
the failure to cure such default or to cause such default to be cured within such period of time. 
The cure periods hereunder are not intended to extend any cure or grace period otherwise applicable
under the Note or any Related Agreement, and all such cure or grace periods shall run concurrently
without duplication. “Immediate Default” shall  mean an event of default due to (i) voluntary
bankruptcy or insolvency of Borrower or any Related Party; (ii) the failure of Borrower or any
Related Party to diligently contest and obtain the prompt dismissal of any involuntary bankruptcy
or other insolvency proceeding filed against such Borrower or Related Party; (iii) appointment of a
receiver, trustee, custodian or liquidator of a substantial part of the assets of Borrower or any
Related Party, (iv) service of a writ of garnishment, levy or other seizure with respect to any
collateral securing the Note, or any accounts of Borrower or any Related Party, (v) failure to
maintain insurance coverage for collateral, if any, as may be required; (vi) submission to Lender
of any required financial statement or certificate of Borrower or any Related Party that is
incorrect, false or misleading in any material respect when furnished or made, or (vii) breach of
any covenant or obligation of Borrower or any Related Party that is not reasonably curable within
twenty (20) days of such breach.  “Related Agreement” shall mean each loan agreement, guaranty,
security agreement, mortgage or other loan document relating to or securing the Note. “Related
Party” shall mean each guarantor, co-borrower, mortgagor or other party executing a Related
Agreement.”

6. Other Buyer Covenants.

(a) The Buyer shall establish a replacement reserve account with the Bank by entering into
Replacement Reserve Agreement with the Bank in form acceptable to the Bank (as the same may be
amended, restated or replaced from time to time, the “Replacement Reserve Agreement”) and will
observe and perform all covenants and agreements in the Replacement Reserve Agreement.

(c) The Buyer shall maintain its principal deposit account with the Bank.

(d) Not later than 60 days after, and as of the end of, each calendar year, the Buyer shall
provide to Bank a rent roll in form and substance reasonably acceptable to Bank.

(e) The Buyer shall cause the Property to maintain an occupancy rate (with bona fide tenants
at market rates) of no less than 60% as of the end of each year beginning December 31, 2010.

(f) The Buyer shall either: (i) cause the Property to maintain an occupancy rate (with bona
fide tenants at market rates) of no less than 90% as of the end of each year beginning December 31,
2010, or (ii) pay and maintain (for so long as such occupancy rate is less than 90%) the Occupancy
Funds. The “Occupancy Funds” mean TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000.00) to be held by
the Bank as provided herein as additional collateral security for the Indebtedness (as defined in
the Mortgage). No earnings or interest shall be payable to Buyer on the Occupancy Funds. The
Funds shall not be, nor be deemed to be, trust funds, and Bank shall have the right to hold the
Occupancy Funds in any manner Bank elects and may commingle the Occupancy Funds with other moneys
held by Bank. If the amount of the Occupancy Funds held by Bank shall not be sufficient at any
time to satisfy this subsection, Buyer shall pay to Bank any amount necessary to make up the
deficiency upon notice from Bank to Buyer requesting payment. Upon an Event of Default, as defined
in the Mortgage, Bank may apply on the Indebtedness, in the order of application as Bank may
determine, any Occupancy Funds then in Bank’s possession. Upon payment in full of the
Indebtedness, Bank shall promptly remit to Buyer any Occupancy Funds held by Bank.

7. Conditions Precedent. The effectiveness of the Bank’s consent hereunder shall be subject to
the following conditions precedent:

(a) Delivery of the following documents:

(i) this Consent Agreement, fully executed;

	 	 	 
	(ii)
	 	a Mortgage Modification, fully executed;

	(iii)
	 	a title insurance endorsement in form acceptable to the Bank;

	(iv)
	 	the Second Amendment to Credit Agreement, fully executed; and

	(v)
	 	the Replacement Reserve Agreement, fully executed.

(b) Payment of the initial deposit under the Replacement Reserve Agreement.

(c) Payment or reimbursement, as the case may be, of all reasonable fees and expenses incurred
by the Bank or related to this agreement, including, reasonable attorneys’ fees incurred by the
Bank for the preparation of this agreement and ancillary documents.

8. Miscellaneous.

(a) This Consent Agreement may be executed in multiple counterparts, each of which shall be
deemed an original.

1

IN WITNESS WHEREOF, the Bank, the Borrower and the Buyer have executed this Consent Agreement as of
the Effective Date.

WELLS FARGO BANK,

NATIONAL ASSOCIATION

	 	 	 
	By: /s/ Roxanne Muehebauer

	Name:

Title:

	 	Roxanne Muehebauer

Assistant Vice President

STINGRAY PROPERTIES, LLC

	 	 	 
	By: /s/ Gary Verkinnes

	Name:

	 	Gary Verkinnes

Title: Partner

G&E HEALTHCARE REIT II SARTELL MOB, LLC,

a Delaware limited liability company

	 	 	 
	By: /s/ Danny Prosky

	Name: Danny Prosky

	Its:

	 	Authorized Signatory

Buyer’s Notice Address:

c/o Grubb & Ellis Equity Advisors, LLC

1551 North Tustin Avenue, Suite 200

Santa Ana, California 92705

Attn: Danny Prosky

With a copy to:

Gregory Kaplan, PLC

7 East Second Street

Richmond, Virginia 23224

Attn: Joseph J. McQuade

2

ACKNOWLEDGMENT AND CONSENT

As of the Effective Date, each of the undersigned Guarantors acknowledges and consents to the
foregoing Consent and Assumption Agreement, and agrees that his/its Guaranty remains in full force
and effect.

/s/ Dr. Jeffrey Gerdes

Dr. Jeffrey Gerdes

/s/ Ronald Berg

Ronald Berg

/s/ Gary Verkinnes

Gary Verkinnes

/s/ Dr. Samir Elghor

Dr. Samir Elghor

Sylvan Holdings, LLC

	 	 	 
	By: /s/ Dr. Jeffrey Gerdes

	Name:

	 	Dr. Jeffrey Gerdes

Title: Partner

Crystal Blue Properties, LLC

	 	 	 
	By: /s/ Gary Verkinnes

	Name:

	 	Gary Verkinnes

Title: Partner

3

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