Document:

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                                                                   Exhibit 10.20

                             HEALTH CARE REIT, INC.
                             EXECUTIVE LOAN PROGRAM

INTRODUCTION

          The Compensation Committee (the "Committee") of the Board of Directors
of Health Care REIT, Inc. (the "Company") is generally responsible for
determining the nature and amount of compensation for the Company's executive
officers. In August 1999, the Committee utilized the services of FPL Advisory
Group, a nationally recognized executive compensation consulting firm, to assist
the Committee in reviewing and developing an executive loan program (the
"Program") for the Company's executive officers and certain other officers to
assist such officers with paying taxes related to the vesting of restricted
stock awards. After reviewing similar programs by the Company's competitors, and
discussing the program with Company's management, the Committee adopted the
following:

1.       OBJECTIVES.

          The objectives of the Company's Program are to (a) assist the
Company's executive officers and certain other officers of the Company in
increasing their stock ownership in the Company in order to further link such
officers' economic interests with those of the Company shareholders, and (b)
leverage the value of the Company's existing long-term incentive plan by
assisting the executive officers and certain other officers of the Company with
the income tax impact that results from the vesting of restricted stock.

2.       PLAN PURPOSE.

          The Program permits the Company to make Company funds available to the
executive officers and certain other officers of the Company to pay income taxes
that result from the vesting of restricted shares of the Company's shares of
Common Stock par value $1.00 per share (the "Shares").

3.       ELIGIBILITY.

          The Program is limited to the executive officers of the Company and
certain other officers of the Company as specified by the Committee. As of
September 10, 1999, the individuals who are eligible for participation are
George L. Chapman, Raymond W. Braun, Edward F. Lange, Jr., Erin C. Ibele,
Michael A. Crabtree and J. Michael Stephen.

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4.       TERM.

          Any loans made pursuant to the Program will be five (5) year and full
recourse loans. Each loan will be evidenced by a promissory note executed by the
officer and delivered to the Company.

5.       COLLATERAL.

          Each loan will be secured by collateral which initial collateral will
be all of the vested Shares that relate to the taxes for which the loan is being
granted. The officer will deliver certificates for such Shares endorsed in blank
to the Company. To the extent any portion of a loan is forgiven, the number of
Shares held as collateral that is equal to the percentage of the loan forgiven
will be released by the Company (e.g., if 20% of the loan is forgiven, then 20%
of the Shares will be released); provided, however, Shares will not be released
if it would cause the Shares that continue to be held as collateral to have a
value on the date of the forgiveness that is less than two times the remaining
balance of the loan.

6.       INTEREST.

          Interest will be set at the mid-term applicable federal rate
established by the Internal Revenue Service at the time of the loan and such
interest will be compounded annually and will be paid to the Company within
thirty days after each anniversary date of the loan. The Company will invoice
the officer on or about each anniversary date of the loan.

7.       MAXIMUM AMOUNT OF LOAN.

          The following levels of maximum levels of indebtedness have been
established for each of the following positions:

                                                            MAXIMUM
                      POSITION                           INDEBTEDNESS
                      --------                           ------------
                      Chairman & CEO                     $   2,500,000
                      VP & Chief Operating Officer       $   1,000,000
                      VP & Chief Financial Officer       $   1,000,000
                      VP & Corporate Secretary           $     500,000
                      Controller                         $     500,000
                      Vice President, Marketing          $     500,000

8.       REPAYMENT.

          If an officer's employment with the Company is involuntarily
terminated for Cause (as defined in the officer's then current employment
agreement with the Company, or in the promissory note if there is no agreement),
or if the officer voluntarily terminates his

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employment with the Company before all amounts due have been paid (other than by
reason of death or disability), or as a result of a Change in Control (as
defined in the officer's then current employment agreement with the Company, or
in the promissory note if there is no employment agreement), all remaining
amounts then due under the loan will become due and payable by the officer in
ninety (90) days.

9.       FORGIVENESS.

          (a) Loans will be forgiven over the term of the loan based on the
officer's continued employment. On each anniversary date of the loan, if the
officer continues to be employed by the Company, one-fifth (1/5) of the
principal loan amount will be forgiven.

          (b) All amounts are forgiven if the officer's employment with the
Company terminates by reason of death, disability, involuntary termination
without Cause (as defined in the officer's then current employment agreement
with the Company, or in the promissory note if there is no employment
agreement), or as a result of a Change of Corporate Control (as defined in the
officer's then current employment agreement with the Company, or in the
promissory note if there is no employment agreement).

          (c) For those officers who have an employment agreement with the
Company, if any amounts forgiven pursuant to this Plan are subject to the excise
tax imposed by Section 4999 of the Internal Revenue Code, the Company will make
a gross-up payment to the officer consistent with the gross-up formula set forth
in the officer's then current employment agreement with the Company with respect
to excise taxes.

10.      MODIFICATION.

          The terms and conditions of the Program, as well as the terms and
conditions of the promissory note, may be modified from time to time by the
Committee.

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THE NOTES (HEREINAFTER REFERRED TO) ARE NOT SAVINGS ACCOUNTS, DEPOSITS OR OTHER
OBLIGATIONS OF ANY INSURED DEPOSITARY INSTITUTION OR OTHER SUBSIDIARY OF THE
COMPANY (HEREINAFTER REFERRED TO) AND ARE NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY.

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF.
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK LIMITED PURPOSE TRUST COMPANY (THE "DEPOSITORY"), TO
THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

CUSIP 635405 AN 3

                            NATIONAL CITY CORPORATION
                       3.20% SENIOR NOTE DUE APRIL 1, 2008

            National City Corporation, a Delaware corporation (herein called the
"Company," which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to CEDE &
CO., or registered assigns, the principal sum of THREE HUNDRED MILLION DOLLARS
($300,000,000) on April 1, 2008 at the office or agency of the Company referred
to below, and to pay interest thereon from March 10, 2003, or from the most
recent date to which interest has been paid or duly provided for, semi-annually
on April 1 and October 1 (each, an "Interest Payment Date") in each year,
commencing on October 1, 2003, at the rate of 3.20% per annum, until the
principal hereof is paid or made available for payment. The interest so payable
and punctually paid or duly provided for on any Interest Payment Date, will, as
provided in such Indenture, be paid to the Person in whose name this Note (or
one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such interest, which shall be the March 15 or
September 15 (whether or not a Business Day), as the case may be, next preceding
such Interest Payment Date; provided that, interest at maturity shall be payable
to the Person to whom principal is payable. Any such interest not so punctually
paid shall forthwith cease to be payable to the registered Holder on such
Regular Record Date, and may be paid to the Person in whose name this Note (or
one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to the Holder of this Note not less
than 10 days prior to such Special Record Date, or may be paid at any time in
any other lawful manner, all as more fully provided in such Indenture.
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Payment of the principal of (and premium, if any) and interest on this Note will
be made at the Corporate Trust Office of the Trustee referred to on the reverse
hereof, or at such office or agency of the Company maintained for that purpose,
in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts; provided,
however, that payment of interest may be made at the option of the Company by
check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

            This Note is one of the series of notes designated as "3.20% Senior
Notes Due April 1, 2008" (the "Notes"). Reference is hereby made to the further
provisions of this Note set forth on the reverse hereof. Such further provisions
shall for all purposes have the same effect as if set forth at this place.

            Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under said Indenture, or be valid or
obligatory for any purpose.

            This Security shall be governed by and construed in accordance with
the laws of the State of New York.

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            IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed under the corporate seal.

                                              NATIONAL CITY CORPORATION

                                              By:/s/ Thomas A. Richlovsky
                                                 -------------------------------
                                                  Treasurer

Attest:

By:  /s/ Carlton E. Langer                            [SEAL]
     ----------------------------
     Assistant Secretary

Dated:  March 10, 2003

Trustee's Certificate of Authentication:  This is
one of the Securities of the series designated therein,
referred to in the within-mentioned Indenture.

The Bank of New York, as Trustee

By: /s/ Joseph A. Lloret
    ----------------------------
    Authorized Signatory

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                            NATIONAL CITY CORPORATION
                       3.20% SENIOR NOTE DUE APRIL 1, 2008

            This Note is one of a duly authorized issue of Securities of the
Company, issued and to be issued in one or more series under the senior
indenture (herein called the "Indenture"), dated as of April 30, 1999 between
the Company and The Bank of New York, as Trustee (herein called the "Trustee,"
which term includes any successor trustee under the Indenture), to which
Indenture and all indentures supplemental thereto reference is hereby made for a
statement of the respective rights thereunder of the Company, the Trustee and
the Holders of the Notes, and of the terms upon which the Notes are, and are to
be, authenticated and delivered.

            Subject to certain limitations in the Indenture, if an Event of
Default occurs and is continuing, then the Trustee or the Holders of not less
than 25% in principal amount of the Outstanding Notes may declare the principal
of all the Notes to be due and payable immediately, by a notice in writing to
the Company (and to the Trustee if given by the Holders).

            Subject to certain exceptions requiring the consent of each Holder
affected, the Indenture or the Notes may be amended or supplemented with the
consent of the Holders of not less than a majority in principal amount of the
Outstanding Notes affected, and compliance by the Company with certain
provisions of the Indenture and any past default under the Indenture (except a
default in the payment of the principal of or interest on the Notes or in
respect of a covenant or provision which under the terms of the Indenture cannot
be modified or amended without the consent of each Holder affected) may be
waived with the consent of the Holders of at least a majority in principal
amount of the Outstanding Notes. Without notice to or the consent of any Holder,
the parties to the Indenture may amend or supplement the Indenture or the Notes
to, among other things, cure any ambiguity, defect or inconsistency and provide
for assumption of the Company's obligations to Holder by another Person.

            The Notes are not subject to redemption by the Company prior to
maturity or to repayment at the option of the Holder before that date, and are
not entitled to any sinking fund.

            As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Note may be registered on the Security
Register, upon surrender of this Note for registration of transfer at the
Corporate Trust Office of the Trustee, or at such office or agency of the
Company maintained for that purpose, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or by his attorney duly
authorized in writing, and thereupon one or more new Notes of authorized
denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

            The Notes are issuable only in registered form without coupons in
denominations of $1,000 or any integral multiple thereof. As provided in the
Indenture and subject to certain limitations therein set forth, the Notes are
exchangeable for a like aggregate principal amount of Notes of this series of a
different authorized denomination, as requested by the Holder surrendering the
same.

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            No service charge shall be made for any registration of transfer or
exchange of Notes, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.

            Prior to and at the time of due presentment of this Note for
registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name this Note is registered as the
owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

            Beneficial interests in the Notes will be shown only on, and
transfers thereof will be effected only through, records maintained by the
Depository and its participants. Owners of beneficial interests in the Notes
will not be entitled to receive Notes in definitive form and will not be
considered Holders of Notes unless the Depository notifies the Company in
writing that it is no longer willing or able to act as a depository or if the
Depository ceases to be a clearing agency registered under the Securities
Exchange Act of 1934, as amended, and, in either case, the Company does not
appoint a successor depository within 90 days, or if the Company determines not
to have the Notes represented by global Securities or an Event of Default has
occurred and is continuing with respect to the Securities. In such
circumstances, upon surrender by the Depository or a successor depository of the
global Securities, Notes in definitive form will be issued to each beneficial
owner of the related Notes in fully registered form without coupons, in minimum
denominations of $1,000 and integral multiples thereof. Such definitive Notes
shall be registered in such name or names as the Depository shall instruct the
Trustee. If definitive Notes are so delivered, the Company may make such changes
to the form of the Note as are necessary or appropriate to allow for the
issuance of such definitive Notes.

            All terms used in this Note which are defined in the Indenture shall
have the meanings assigned to them in the Indenture. The terms of the Notes
include those stated in the Indenture and those made part of the Indenture by
reference to the Trust Indenture Act of 1939, as amended. The Notes are subject
to all such terms, and Holders of Notes are referred to the Indenture, all
indentures supplemental thereto and said Act for a statement of such terms.

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