Document:

Mortgage, Assignment of Rents Security Agreement

 Exhibit 10.2 
 MORTGAGE 
 ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND 

FIXTURE FILING 
 (IOWA) 
 Recorder’s Cover Sheet 

Preparer Information: 

Bracewell & Giuliani LLP, 1445 Ross Avenue, Suite 3800, Dallas, Texas 75202-2711, Attention: Alfred G. Kyle, Esq., (214) 758-1660

 Taxpayer Information: 

CHT Council Bluffs IA Senior Living, LLC, 450 South Orange Avenue, Orlando, Florida 32801 
 Return Document To: 
 Bracewell & Giuliani LLP, 1445 Ross Avenue, Suite
3800, Dallas, Texas 75202-2711, Attention: Alfred G. Kyle, Esq. 
 Grantor: 

CHT Council Bluffs IA Senior Living, LLC 

Grantee: 
 KeyBank National
Association, as Agent, for the benefit of the Lenders 
 Legal Description: 

See Exhibit A attached and incorporated herein 

Document or instrument number of previously recorded documents: 
 N/A 
  

 MORTGAGE 
 ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND 
 FIXTURE FILING

 Project Commonly Known As 
 “Primrose Retirement Community of Council Bluffs” 
 NOTICE: This Mortgage
secures credit in the amount of $120,000,000.00. Loans and advances up to this amount, together with interest, are senior to indebtedness to other creditors under subsequently recorded or filed mortgages and liens. 

THIS MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this “Mortgage”) is made as of August 19, 2013,
by CHT COUNCIL BLUFFS IA SENIOR LIVING, LLC, a Delaware limited liability company (“Mortgagor”) whose organizational identification number is DE5234648 and address is 450 South Orange Avenue, Orlando, Florida 32801, in favor of KEYBANK
NATIONAL ASSOCIATION, a national banking association, its successors and assigns, as administrative agent for the benefit of the Lenders (“Mortgagee”), whose address is 4910 Tiedeman Road, 3rd Floor, Brooklyn, Ohio 44144. 

 

	1.	Grant and Secured Obligations. 

 1.1 Grant. For the purpose of securing payment and performance of the Secured Obligations defined and described in Section 1.2 below, Mortgagor hereby irrevocably and unconditionally
grants, bargains, sells, conveys, mortgages and warrants to Mortgagee all estate, right, title and interest which Mortgagor now has or may later acquire in and to the following property (all or any part of such property, or any interest in all or
any part of it, as the context may require, the “Property”): 
 (a) the real estate situated in
Pottawattamie County, Iowa, which is more particularly described in Exhibit A attached hereto and made a part hereof for all purposes the same as if set forth herein verbatim, together with all right, title and interest of Mortgagor in and to
(i) all streets, roads, alleys, easements, rights-of-way, licenses, rights of ingress and egress, vehicle parking rights and public places, existing or proposed, abutting, adjacent, used in connection with or pertaining to the real property or
the Improvements (as hereinafter defined); (ii) any strips or gores between the real property and abutting or adjacent properties; and (iii) all water and water rights, timber, crops and mineral interests pertaining to the real property
(such real estate and other rights, titles and interests being hereinafter sometimes called the “Premises”); 
 (b) all buildings, structures and other improvements (such buildings, structures and other improvements being hereinafter sometimes called the “Improvements”) now or hereafter situated on the
Premises; 
  

  

			
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 (c) all fixtures, equipment, systems, machinery, furniture, furnishings,
inventory, goods, building and construction materials, supplies, and articles of personal property, of every kind and character, now owned or hereafter acquired by Mortgagor, which are now or hereafter attached to or situated in, on or about the
Premises or the Improvements, or used in or necessary to the complete and proper planning, development, use, occupancy or operation thereof, or acquired (whether delivered to the Premises or stored elsewhere) for use or installation in or on the
Premises or the Improvements, and all renewals and replacements of, substitutions for and additions to the foregoing, including, but without limiting the foregoing, any and all fixtures, equipment, machinery, systems, facilities and apparatus for
heating, ventilating, air conditioning, refrigerating, plumbing, sewer, lighting, generating, cleaning, storage, incinerating, waste disposal, sprinkler, fire extinguishing, communications, transportation (of people or things, including, but not
limited to, stairways, elevators, escalators and conveyors), data processing, security and alarm, laundry, food or drink preparation, storage or serving, gas, electrical and electronic, water, and recreational uses or purposes; all tanks, pipes,
wiring, conduits, ducts, doors, partitions, rugs and other floor coverings, wall coverings, windows, drapes, window screens and shades, awnings, fans, motors, engines and boilers; and decorative items and art objects (all of which are herein
sometimes referred to together, as the “Accessories”); 
 (d) all (i) plans and specifications for
the Improvements; (ii) contracts relating to the Premises, or the Improvements or the Accessories or any part thereof; (iii) deposits, (including, but not limited to, Mortgagor’s rights in tenants’ security deposits, deposits
with respect to utility services to the Premises, or the Improvements or the Accessories or any part thereof, and any deposits or reserves hereunder or under any other Loan Document (as hereinafter defined) for taxes, insurance or otherwise, funds,
accounts, contract rights, instruments, documents, commitments, general intangibles (including, but not limited to, trademarks, trade names and symbols), notes, and chattel paper used in connection with or arising from or by virtue of any
transactions related to the Premises, or the Improvements or the Accessories or any part thereof; (iv) permits, licenses, franchises, certificates and other rights and privileges obtained in connection with the Premises, or the Improvements or
the Accessories or any part thereof; (v) leases, rents, royalties, bonuses, issues, profits, revenues and other benefits of the Premises, the Improvements and the Accessories; and (vi) other properties, rights, titles and interests, if
any, specified in any Section or any Article of this Mortgage as being part of the Property; and 
 (e) all
(i) proceeds of or arising from the properties, rights, titles and interests referred to above in paragraphs (a), (b), (c) and (d), including, but not limited to, proceeds of any sale, lease or other disposition thereof, proceeds of each
policy of insurance relating thereto (including premium refunds), proceeds of the taking thereof or of any rights appurtenant thereto by eminent domain or sale in lieu thereof for public or quasi-public use under any law, and proceeds arising out of
any damage thereto whether caused by such a taking (including change of grade of streets, curb cuts or other rights of access) or otherwise caused; and (ii) other interests of every kind and character, and proceeds thereof, which Mortgagor now
has or hereafter acquires in, to or for the benefit of the properties, rights, titles and interests referred to above in paragraphs (a), (b), (c) and (d)

  

			
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and all property used or useful in connection therewith, including, but not limited to, remainders, reversions and reversionary rights or interests. In the event the estate of Mortgagor in and to
any of the Property is a leasehold estate, this conveyance shall include, and the lien and security interest created hereby shall encumber and extend to, all other further or additional title, estates, interest or rights which may exist now or at
any time be acquired by Mortgagor in or to the property demised under the lease creating such leasehold estate and including Mortgagor’s rights, if any, to the property demised under such lease and, if fee simple title to any of such property
shall ever become vested in Mortgagor such fee simple interest shall be encumbered by this Mortgage in the same manner as if Mortgagor had fee simple title to said property as of the date of execution hereof. 

TO HAVE AND TO HOLD the Property, unto Mortgagee and Mortgagee’s successors, substitutes or assigns, for the uses and purposes
herein set forth, forever, together with all rights, privileges, hereditaments and appurtenances in anywise appertaining or belonging thereto, subject only to the Permitted Exceptions (herein so called) listed on Exhibit B attached hereto (to
the extent that the same are valid, subsisting and affect the Property), and Mortgagor, for Mortgagor and Mortgagor’s successors, hereby agrees to warrant and forever defend, all and singular, the Property unto Mortgagee and Mortgagee’s
successors or substitutes against the claim or claims of all persons claiming or to claim the same or any part thereof, subject, however, as aforesaid. 
 For the avoidance of doubt, the term “Property” shall not include any property owned by an Operator. Capitalized terms used above and elsewhere in this Mortgage without definition have the
meanings given them in the Credit Agreement referred to in Subsection 1.2(a)(iii) below. 
 1.2 Secured
Obligations. 
 (a) Mortgagor makes the grant, conveyance, and mortgage set forth in Section 1.1
above, and grants the security interest set forth in Section 3 below for the purpose of securing the following obligations (the “Secured Obligations”) in any order of priority that Mortgagee may choose: 

(i) Payment of all obligations at any time owing under one or more promissory notes (the “Notes”) bearing even
date herewith, payable by Mortgagor as maker in the aggregate principal amount of One Hundred Twenty Million and No/100 Dollars ($120,000,000.00) to the order of each Lender; and 

(ii) Payment and performance of all obligations of Mortgagor under this Mortgage; and 

(iii) Payment and performance of all obligations of CNL Healthcare Properties, Inc. and CHP Partners, LP (collectively
“Borrowers”) under that certain Credit Agreement dated as of August     , 2013, among Borrowers, Mortgagee and the Lenders (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”);
and 

  

			
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 (iv) Payment and performance of any obligations of Mortgagor under any Loan
Documents which are executed by Mortgagor; and 
 (v) Payment and performance of all obligations of Mortgagor
arising from any Interest Rate Agreements. “Interest Rate Agreements” shall mean an interest rate hedging program through the purchase by Mortgagor from Mortgagee of an interest rate swap, cap or such other interest rate protection product
with respect to the Notes; and 
 (vi) Payment and performance of all future advances and other obligations that
Mortgagor or any successor in ownership of all or part of the Property may agree to pay and/or perform (whether as principal, surety or guarantor) for the benefit of the Lenders, when a writing evidences the parties’ agreement that the advance
or obligation be secured by this Mortgage; and 
 (vii) Payment and performance of all modifications, amendments,
extensions, and renewals, however evidenced, of any of the Secured Obligations. 
 (b) All persons who may have
or acquire an interest in all or any part of the Property will be considered to have notice of, and will be bound by, the terms of the Secured Obligations and each other agreement or instrument made or entered into in connection with each of the
Secured Obligations. Such terms include any provisions in the Notes or the Credit Agreement which permit borrowing, repayment and reborrowing, or which provide that the interest rate on one or more of the Secured Obligations may vary from time to
time. 
  

	2.	Assignment of Rents. 

 2.1 Assignment. Mortgagor hereby irrevocably, absolutely, presently and unconditionally assigns to Mortgagee all rents, royalties, issues, profits, revenue, income, accounts, proceeds and other
benefits of the Property, whether now due, past due or to become due, including all prepaid rents and security deposits (some or all collectively, as the context may require, “Rents”). This is an absolute assignment, not an assignment for
security only. 
 2.2 Grant of License. Mortgagee hereby confers upon Mortgagor a license (“License”) to
collect and retain the Rents as they become due and payable, so long as no Event of Default, as defined in Section 6.1 below, shall exist and be continuing. If an Event of Default has occurred and is continuing, Mortgagee shall have the
right, which it may choose to exercise in its sole discretion, to terminate this License without notice to or demand upon Mortgagor, and without regard to the adequacy of Mortgagee’s security under this Mortgage. 

2.3 Collection and Application of Rents. Subject to the License granted to Mortgagor under Section 2.2 above,
Mortgagee has the right, power and authority to collect any and all Rents. Mortgagor hereby appoints Mortgagee its attorney-in-fact to perform any and all of the
following acts, if and at the times when Mortgagee in its sole discretion may so choose: 
 (a) Demand, receive
and enforce payment of any and all Rents; or 

  

			
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 (b) Give receipts, releases and satisfactions for any and all Rents; or

 (c) Sue either in the name of Mortgagor or in the name of Mortgagee for any and all Rents. 

Mortgagee and Mortgagor agree that the mere recordation of the assignment granted herein entitles Mortgagee immediately to collect and receive rents upon
the occurrence of an Event of Default, as defined in Section 6.1, without first taking any acts of enforcement under applicable law, such as, but not limited to, providing notice to Mortgagor, filing foreclosure proceedings, or seeking
and/or obtaining the appointment of a receiver. Further, Mortgagee’s right to the Rents does not depend on whether or not Mortgagee takes possession of the Property as permitted under Subsection 6.2(c). In Mortgagee’s sole
discretion, Mortgagee may choose to collect Rents either with or without taking possession of the Property. Mortgagee shall apply all Rents collected by it in the manner provided under Section 6.5. If an Event of Default occurs while
Mortgagee is in possession of all or part of the Property and is collecting and applying Rents as permitted under this Mortgage, Mortgagee and any receiver shall nevertheless be entitled to exercise and invoke every right and remedy afforded any of
them under this Mortgage and at law or in equity. 
 2.4 Mortgagee Not Responsible. Under no circumstances shall
Mortgagee have any duty to produce Rents from the Property. Regardless of whether or not Mortgagee, in person or by agent, takes actual possession of the Premises and Improvements, unless Mortgagee agrees in writing to the contrary, Mortgagee is not
and shall not be deemed to be: 
 (a) A “mortgagee in possession” for any purpose; or 

(b) Responsible for performing any of the obligations of the lessor under any lease; or 

(c) Responsible for any waste committed by lessees or any other parties, any dangerous or defective condition of the
Property, or any negligence in the management, upkeep, repair or control of the Property; or 
 (d) Liable in any
manner for the Property or the use, occupancy, enjoyment or operation of all or any part of it. 
 2.5 Leasing. Mortgagor
shall not lease the Property or any part of it except strictly in accordance with the Credit Agreement. 
  

	3.	Grant of Security Interest. 

 3.1 Security Agreement. The parties intend for this Mortgage to create a lien on the Property, and an absolute assignment of the Rents, all in favor of Mortgagee. The parties acknowledge that some
of the Property and some or all of the Rents may be determined under applicable law to be personal property or fixtures. To the extent that any Property or Rents may be or be determined to be personal property, Mortgagor, as debtor, hereby grants
Mortgagee, as secured party, a security interest in all such Property and Rents, to secure payment and performance of the Secured Obligations. This Mortgage constitutes a security agreement under the Uniform Commercial Code of the State in which the
Property is located, covering all such Property and Rents. 

  

			
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 3.2 Financing Statements. Mortgagor hereby authorizes Mortgagee to file one or more
financing statements naming Mortgagor as debtor and Mortgagee as secured party with respect to the Property and Rents. In addition, Mortgagor shall execute such other documents as Mortgagee may from time to time require to perfect or continue the
perfection of Mortgagee’s security interest in any Property or Rents. As provided in Section 5.9 below, Mortgagor shall pay all fees and costs that Mortgagee may incur in filing such documents in public offices and in obtaining such
record searches as Mortgagee may reasonably require. In case Mortgagor fails to execute any financing statements or other documents for the perfection or continuation of any security interest, Mortgagor hereby appoints Mortgagee as its true and
lawful attorney-in-fact to execute any such documents on its behalf. If any financing statement or other document is filed in the records normally pertaining to personal
property, that filing shall never be construed as in any way derogating from or impairing this Mortgage or the rights or obligations of the parties under it. 
  

	4.	Fixture Filing. 

 This Mortgage constitutes a financing statement filed as a fixture filing under Article 9 of the Uniform Commercial Code in the State in which the Property is located, as amended or recodified from time
to time, covering any Property which now is or later may become fixtures attached to the Premises or Improvements. For this purpose, the respective addresses of Mortgagor, as debtor, and Mortgagee, as secured party, are as set forth in the preambles
of this Mortgage. 
  

	5.	Rights and Duties of the Parties. 

 5.1 Representations and Warranties. Mortgagor represents and warrants that as of the date hereof: 
 (a) Subject to the Permitted Exceptions, Mortgagor lawfully possesses and holds fee simple title to all of the Premises and Improvements; 

(b) Mortgagor has or will have good and marketable title to all Property other than the Premises and Improvements;

 (c) Mortgagor has the full and unlimited power, right and authority to encumber the Property and assign the
Rents; 
 (d) This Mortgage creates a first and prior lien on the Property; 

(e) The Property includes all property and rights which may be reasonably necessary or desirable to promote the present
and any reasonable future beneficial use and enjoyment of the Premises and Improvements; 

  

			
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 (f) Mortgagor owns any Property which is personal property free and clear of
any security agreements, reservations of title or conditional sales contracts, and there is no financing statement affecting such personal property on file in any public office; and 

(g) Mortgagor’s place of business, or its chief executive office if it has more than one place of business, is
located at the address specified below. 
 5.2 Taxes, and Assessments. Mortgagor shall, or cause Operator to, pay prior
to delinquency all taxes, levies, charges and assessments, in accordance with the Credit Agreement. 
 5.3 Performance of
Secured Obligations. Mortgagor shall promptly pay and perform each Secured Obligation in accordance with its terms. 
 5.4
Liens, Charges and Encumbrances. Mortgagor shall, or cause Operator to, immediately discharge any lien on the Property which Mortgagee has not consented to in writing in accordance with the terms of the Credit Agreement. 

5.5 Damages and Insurance and Condemnation Proceeds. Subject to Section 2.14(b) of the Credit Agreement, in the event of any
casualty or condemnation to the Property, Agent on behalf of the Lenders shall collect, retain and apply upon the indebtedness of Borrowers under the Secured Obligations (individually and collectively referred to as “Proceeds”) after
deduction of all expenses of collection and settlement, including reasonable attorneys’ and adjusters’ fees and charges. Any Proceeds remaining after repayment of the indebtedness under the Loan Documents shall be paid by Agent to
Borrowers. 
 5.6 Maintenance and Preservation of Property. 

(a) Mortgagor shall, or cause Operator to, insure the Property in accordance with Mortgagee’s insurance requirements
and keep the Property in good condition and repair. 
 (b) Mortgagor shall not, and shall not permit Operator to,
remove or demolish the Property or any part of it, or alter, restore or add to the Property, or initiate or allow any change or variance in any zoning or other Premises use classification which affects the Property or any part of it, except as
permitted or required by the Credit Agreement or with Mortgagee’s express prior written consent in each instance 
 (c) If all or part of the Property becomes damaged or destroyed, Mortgagor shall promptly and completely repair and/or restore the Property in a good and workmanlike manner in accordance with sound
building practices, regardless of whether or not Mortgagee agrees to disburse Proceeds or other sums to pay costs of the work of repair or reconstruction. 
 (d) Mortgagor shall not, and shall not permit Operator to, commit or allow any act upon or use of the Property which would violate: (i) any applicable Laws or order of any Governmental Authority,
whether now existing or later to be enacted and whether foreseen or unforeseen; or (ii) any public or private covenant, condition, restriction or equitable servitude affecting the Property. Mortgagor shall not bring or

  

			
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keep any article on the Property or cause or allow any condition to exist on it, if that could invalidate or would be prohibited by any insurance coverage required to be maintained by Mortgagor
on the Property or any part of it under the Credit Agreement. 
 (e) Mortgagor shall not, and shall not permit
Operator to, commit or allow waste of the Property, including those acts or omissions characterized under the Credit Agreement as waste which arises out of Hazardous Material. 

(f) Mortgagor shall perform, or shall cause Operator to perform, all other acts which from the character or use of the
Property may be reasonably necessary to maintain and preserve its value. 
 5.7 Releases, Extensions, Modifications and
Additional Security. From time to time, Mortgagee may perform any of the following acts without incurring any liability or giving notice to any person: 
 (a) Release any person liable for payment of any Secured Obligation; 
 (b) Extend the time for payment, or otherwise alter the terms of payment, of any Secured Obligation; 
 (c) Accept additional real or personal property of any kind as security for any Secured Obligation, whether evidenced by deeds of trust, mortgages, security agreements or any other instruments of
security; 
 (d) Alter, substitute or release any property securing the Secured Obligations; 

(e) Consent to the making of any plat or map of the Property or any part of it; 

(f) Join in granting any easement or creating any restriction affecting the Property; 

(g) Join in any subordination or other agreement affecting this Mortgage or the lien of it; or 

(h) Release the Property or any part of it. 
 5.8 Release. When all of the Secured Obligations have been paid in full and all fees and other sums owed by Mortgagor under Section 5.9 of this Mortgage and the other Loan Documents
have been received, Mortgagee shall release this Mortgage, the lien created thereby, and all notes and instruments evidencing the Secured Obligations. Mortgagor shall pay any costs of preparation and recordation of such release. 

5.9 Compensation, Exculpation, Indemnification. 

(a) Mortgagor agrees to pay reasonable fees as may be charged by Mortgagee (not to exceed the maximum amounts legally
permitted) for any reasonable services that Mortgagee may render in connection with this Mortgage, including providing a statement 

  

			
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of the Secured Obligations or providing the release pursuant to Section 5.8 above. Mortgagor shall also pay or reimburse all of Mortgagee’s reasonable costs and expenses which
may be incurred in rendering any such services. Mortgagor further agrees to pay or reimburse Mortgagee for all reasonable costs, expenses and other advances which may be incurred or made by Mortgagee in any efforts to enforce any terms of this
Mortgage, including any rights or remedies afforded to Mortgagee under Section 6.2, whether any lawsuit is filed or not, or in defending any action or proceeding arising under or relating to this Mortgage, including reasonable
attorneys’ fees and other legal costs, costs of any Foreclosure Sale (as defined in Subsection 6.2(i) below) and any cost of evidence of title. If Mortgagee, as required by applicable Law, chooses to dispose of Property through more than
one Foreclosure Sale, Mortgagor shall pay all reasonable costs, expenses or other advances that may be incurred or made by Mortgagee in each of such Foreclosure Sales. 

(b) Mortgagee shall not be directly or indirectly liable to Mortgagor or any other person as a consequence of any of the
following: 
 (i) Mortgagee’s exercise of or failure to exercise any rights, remedies or powers granted to
Mortgagee in this Mortgage; 
 (ii) Mortgagee’s failure or refusal to perform or discharge any obligation or
liability of Mortgagor under any agreement related to the Property or under this Mortgage; or 
 (iii) Any loss
sustained by Mortgagor or any third party resulting from Mortgagee’s failure to lease the Property, or from any other act or omission of Mortgagee in managing the Property, after an Event of Default, unless the loss is caused by the gross
negligence or willful misconduct of Mortgagee. 
 (c) Mortgagor hereby expressly waives and releases all
liability of the types described above, and agrees that no such liability shall be asserted against or imposed upon Mortgagee. 
 (d) EXCEPT AS CAUSED BY THE GROSS NEGLIGENCE AND OR WILLFUL MISCONDUCT OF MORTGAGEE (IT BEING THE INTENT OF THE PARTIES THAT THIS INDEMNIFICATION SHALL COVER THE NEGLIGENCE OF SUCH PARTIES), MORTGAGOR
AGREES TO INDEMNIFY MORTGAGEE AGAINST AND HOLD THEM HARMLESS FROM ALL LOSSES, DAMAGES, LIABILITIES, CLAIMS, CAUSES OF ACTION, JUDGMENTS, COURT COSTS, ATTORNEYS’ FEES AND OTHER LEGAL EXPENSES, COST OF EVIDENCE OF TITLE, COST OF EVIDENCE OF
VALUE, AND OTHER COSTS AND EXPENSES WHICH THEY MAY SUFFER OR INCUR: 
 (i) IN PERFORMING ANY ACT REQUIRED OR
PERMITTED BY THIS MORTGAGE OR ANY OF THE OTHER LOAN DOCUMENTS OR BY LAW; 

  

			
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 (ii) BECAUSE OF ANY FAILURE OF MORTGAGOR TO PERFORM ANY OF ITS OBLIGATIONS;
OR 
 (iii) BECAUSE OF ANY ALLEGED OBLIGATION OF OR UNDERTAKING BY MORTGAGEE TO PERFORM OR DISCHARGE ANY OF THE
REPRESENTATIONS, WARRANTIES, CONDITIONS, COVENANTS OR OTHER OBLIGATIONS IN ANY DOCUMENT RELATING TO THE PROPERTY OTHER THAN THE LOAN DOCUMENTS. 
 (e) THIS AGREEMENT BY MORTGAGOR TO INDEMNIFY MORTGAGEE SHALL SURVIVE THE RELEASE AND CANCELLATION OF ANY OR ALL OF THE SECURED OBLIGATIONS AND THE FULL OR PARTIAL RELEASE OF THIS MORTGAGE.

 (f) Mortgagor shall pay all obligations to pay money arising under this Section 5.9
immediately upon demand by Mortgagee. Each such obligation shall be added to, and considered to be part of, the principal of the Note, and shall bear interest from the date the obligation arises at the Default Rate. 

5.10 Defense and Notice of Claims and Actions. At Mortgagor’s sole expense, Mortgagor shall protect, preserve and defend the
Property and title to and right of possession of the Property, and the security of this Mortgage and the rights and powers of Mortgagee created under it, against all adverse claims. Mortgagor shall give Mortgagee prompt notice in writing if any
claim is asserted which does or could affect any such matters, or if any action or proceeding is commenced which alleges or relates to any such claim. 
 5.11 Subrogation. Mortgagee shall be subrogated to the liens of all encumbrances, whether released of record or not, which are discharged in whole or in part by Mortgagee in accordance with this
Mortgage or with the proceeds of any loan secured by this Mortgage. 
 5.12 Site Visits, Observation and Testing.
Mortgagee and its agents and representatives shall have the right at any reasonable time to enter and visit the Property for the purpose of performing appraisals, observing the Property, taking and removing soil or groundwater samples, and
conducting tests on any part of the Property. Mortgagee has no duty, however, to visit or observe the Property or to conduct tests, and no site visit, observation or testing by Mortgagee, its agents or representatives shall impose any liability on
any of Mortgagee, its agents or representatives. In no event shall any site visit, observation or testing by Mortgagee, its agents or representatives be a representation that Hazardous Material are or are not present in, on or under the Property, or
that there has been or shall be compliance with any law, regulation or ordinance pertaining to Hazardous Material or any other applicable governmental law. Neither Mortgagor nor any other party is entitled to rely on any site visit, observation or
testing by any of Mortgagee, its agents or representatives. Neither Mortgagee, its agents or representatives owe any duty of care to protect Mortgagor or any other party against, or to inform Mortgagor or any other party of, any Hazardous Material
or any other adverse condition affecting the Property. Mortgagee shall give Mortgagor reasonable notice before entering the Property. Mortgagee shall make reasonable efforts to avoid interfering with Mortgagor’s or Operator’s use of the
Property in exercising any rights provided in this Section 5.12. 

  

			
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 5.13 Notice of Change. Mortgagor shall give Mortgagee prior written notice of any
change in: (a) the location of its place of business or its chief executive office if it has more than one place of business; (b) the location of any of the Property, including the Books and Records; and (c) Mortgagor’s name or
business structure. Unless otherwise approved by Mortgagee in writing, all Property that consists of personal property (other than the Books and Records) will be located on the Premises and all Books and Records will be located at Mortgagor’s
or Operator’s place of business or chief executive office if Mortgagor or Operator has more than one place of business. 
  

	6.	Default and Remedies. 

 6.1 Events of Default. Mortgagor will be in default under this Mortgage upon the occurrence of any one or more of the following events (some or all collectively, “Events of Default;” any
one singly, an “Event of Default”). 
 (a) Failure of Borrowers (i) to pay any of the principal of
the Loan when due, or (ii) to pay interest within ten (10) days after the date when due; or 
 (b)
Failure of Mortgagor (i) to observe or perform any of the other covenants or conditions by Mortgagor to be performed under the terms of this Mortgage or any of the other Loan Documents concerning the payment of money for a period of five
(5) days after written notice from Mortgagee that the same is due and payable; or (ii) for a period of thirty (30) days after written notice from Mortgagee, to observe or perform any non-monetary covenant or condition contained in
this Mortgage or any of the other Loan Documents; provided that if any such failure concerning a non-monetary covenant or condition is susceptible to cure but cannot reasonably be cured within said thirty (30) day period, then Mortgagor shall
have an additional sixty (60) day period to cure such failure and no Event of Default shall be deemed to exist hereunder so long as Mortgagor commences such cure within the initial thirty (30) day period and diligently and in good faith
pursues such cure to completion within such resulting ninety (90) day period from the date of Mortgagee’s notice; or 
 (c) An “Event of Default” occurs under the Credit Agreement or any other Loan Document. 
 6.2 Remedies. At any time after an Event of Default, Mortgagee shall be entitled to invoke any and all of the rights and remedies described below, in addition to all other rights and remedies
available to Mortgagee at law or in equity. All of such rights and remedies shall be cumulative, and the exercise of any one or more of them shall not constitute an election of remedies. 

(a) Acceleration. Mortgagee may declare any or all of the Secured Obligations to be due and payable immediately.

  

			
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 (b) Receiver. Mortgagee shall, as a matter of right, without notice
and without giving bond to Mortgagor or anyone claiming by, under or through Mortgagor, and without regard for the solvency or insolvency of Mortgagor or the then value of the Property, to the extent permitted by applicable law, be entitled to have
a receiver appointed for all or any part of the Property and the Rents, and the proceeds, issues and profits thereof, with the rights and powers referenced below and such other rights and powers as the court making such appointment shall confer, and
Mortgagor hereby consents to the appointment of such receiver and shall not oppose any such appointment. Such receiver shall have all powers and duties prescribed by applicable law, all other powers which are necessary or usual in such cases for the
protection, possession, control, management and operation of the Property, and such rights and powers as Mortgagee would have, upon entering and taking possession of the Property under subsection (c) below. 

(c) Entry. Mortgagee, in person, by agent or by court-appointed receiver, may enter, take possession of, manage and
operate all or any part of the Property, and may also do any and all other things in connection with those actions that Mortgagee may in its sole discretion consider necessary and appropriate to protect the security of this Mortgage. Such other
things may include: taking and possessing all of Mortgagor’s or the then owner’s Books and Records; entering into, enforcing, modifying or canceling leases on such terms and conditions as Mortgagee may consider proper; obtaining and
evicting tenants; fixing or modifying Rents; collecting and receiving any payment of money owing to Mortgagee; completing any unfinished construction; and/or contracting for and making repairs and alterations. If Mortgagee so requests, Mortgagor
shall assemble all of the Property that has been removed from the Premises and make all of it available to Mortgagee at the site of the Premises. Mortgagor hereby irrevocably constitutes and appoints Mortgagee as Mortgagor’s attorney-in-fact to
perform such acts and execute such documents as Mortgagee in its sole discretion may consider to be appropriate in connection with taking these measures, including endorsement of Mortgagor’s name on any instruments. 

(d) Cure; Protection of Security. Mortgagee may cure any breach or default of Mortgagor, and if it chooses to do so
in connection with any such cure, Mortgagee may also enter the Property and/or do any and all other things which it may in its sole discretion consider necessary and appropriate to protect the security of this Mortgage, including, without
limitation, completing construction of the improvements at the Property contemplated by the Credit Agreement. Such other things may include: appearing in and/or defending any action or proceeding which purports to affect the security of, or the
rights or powers of Mortgagee under, this Mortgage; paying, purchasing, contesting or compromising any encumbrance, charge, lien or claim of lien which in Mortgagee’s sole judgment is or may be senior in priority to this Mortgage, such judgment
of Mortgagee or to be conclusive as among the parties to this Mortgage; obtaining insurance and/or paying any premiums or charges for insurance required to be carried under the Credit Agreement; otherwise caring for and protecting any and all of the
Property; and/or employing counsel, accountants, contractors and other appropriate persons to assist Mortgagee. Mortgagee may take any of the actions permitted under this Subsection 6.2(d) either with or without giving notice to any person.
Any amounts expended by Mortgagee under this Subsection 6.2(d) shall be secured by this Mortgage. 

  

			
	MORTGAGE	  	 Page
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 (e) Uniform Commercial Code Remedies. Mortgagee may exercise any or
all of the remedies granted to a secured party under the Uniform Commercial Code in the State in which the Property is located. 
 (f) Foreclosure; Lawsuits. Mortgagee shall have the right to foreclose the lien hereof upon the Property or any part thereof, for the Secured Obligations, or any part thereof, judicially or
nonjudicially, by any proceedings appropriate under applicable law. Mortgagee or its nominee may bid and become the purchaser of all or any part of the Property at any foreclosure or other sale hereunder, and the amount of Mortgagee’s
successful bid shall be credited on the Secured Obligations. Without limiting the foregoing, Mortgagee may proceed by a suit or suits in law or equity, whether for specific performance of any covenant or agreement herein contained or in aid of the
execution of any power herein granted, or for any foreclosure under the judgment or decree of any court of competent jurisdiction. In addition to the right provided in Subsection 6.2(a), upon, or at any time after the filing of a complaint to
foreclose this Mortgage, Mortgagee shall be entitled to the appointment of a receiver of the property by the court in which such complaint is filed, and Mortgagor hereby consents to such appointment. 

(g) Other Remedies. Mortgagee may exercise all rights and remedies contained in any other instrument, document,
agreement or other writing heretofore, concurrently or in the future executed by Mortgagor or any other person or entity in favor of Mortgagee in connection with the Secured Obligations or any part thereof, without prejudice to the right of
Mortgagee thereafter to enforce any appropriate remedy against Mortgagor. Mortgagee shall have the right to pursue all remedies afforded to a mortgagee under applicable law, and shall have the benefit of all of the provisions of such applicable law,
including all amendments thereto which may become effective from time to time after the date hereof. 
 (h)
Sale of Personal Property. Mortgagee shall have the discretionary right to cause some or all of the Property, which constitutes personal property, to be sold or otherwise disposed of in any combination and in any manner permitted by
applicable law. 
 (i) For purposes of this power of sale, Mortgagee may elect to treat as personal property any
Property which is intangible or which can be severed from the Premises or Improvements without causing structural damage. If it chooses to do so, Mortgagee may dispose of any personal property, in any manner permitted by Article 9 of the Uniform
Commercial Code of the State in which the Property is located, including any public or private sale, or in any manner permitted by any other applicable law. 
 (ii) In connection with any sale or other disposition of such Property, Mortgagor agrees that the following procedures constitute a commercially reasonable sale: Mortgagee shall mail written notice of the
sale to Mortgagor not later than thirty (30) days prior to such sale. Mortgagee will publish notice of the 

  

			
	MORTGAGE	  	 Page
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sale in a local daily newspaper of general circulation. Upon receipt of any written request, Mortgagee will make the Property available to any bona fide prospective purchaser for inspection
during reasonable business hours. Notwithstanding, Mortgagee shall be under no obligation to consummate a sale if, in its judgment, none of the offers received by it equals the fair value of the Property offered for sale. The foregoing procedures do
not constitute the only procedures that may be commercially reasonable. 
 (i) Single or Multiple Foreclosure
Sales. If the Property consists of more than one lot, parcel or item of property, Mortgagee may: 
 (i)
Designate the order in which the lots, parcels and/or items shall be sold or disposed of or offered for sale or disposition; and 
 (ii) Elect to dispose of the lots, parcels and/or items through a single consolidated sale or disposition to be held or made under or in connection with judicial proceedings, or by virtue of a judgment
and decree of foreclosure and sale; or through two or more such sales or dispositions; or in any other manner Mortgagee may deem to be in its best interests (any such sale or disposition, a “Foreclosure Sale;” and any two or more,
“Foreclosure Sales”). 
 If Mortgagee chooses to have more than one Foreclosure Sale, Mortgagee at its option may cause
the Foreclosure Sales to be held simultaneously or successively, on the same day, or on such different days and at such different times and in such order as Mortgagee may deem to be in its best interests. No Foreclosure Sale shall terminate or
affect the liens of this Mortgage on any part of the Property which has not been sold, until all of the Secured Obligations have been paid in full. 
 6.3 Credit Bids. At any Foreclosure Sale, any person, including Mortgagor or Mortgagee, may bid for and acquire the Property or any part of it to the extent permitted by then applicable law.
Instead of paying cash for such property, Mortgagee may settle for the purchase price by crediting the sales price of the property against the following obligations: 

(a) First, the portion of the Secured Obligations attributable to the expenses of sale, costs of any action and any other
sums for which Mortgagor is obligated to pay or reimburse Mortgagee under Section 5.9 of this Mortgage; and 
 (b) Second, all other Secured Obligations in any order and proportions as Mortgagee in its sole discretion may choose. 
 6.4 Application of Foreclosure Sale Proceeds. Mortgagee shall apply the proceeds of any Foreclosure Sale in the following manner: 

(a) First, to pay the portion of the Secured Obligations attributable to the expenses of sale, costs of any action and any
other sums for which Mortgagor is obligated to reimburse Mortgagee under Section 5.9 of this Mortgage; 

  

			
	MORTGAGE	  	 Page
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 (b) Second, to pay the portion of the Secured Obligations attributable to
any sums expended or advanced by Mortgagee under the terms of this Mortgage which then remain unpaid; 
 (c)
Third, to pay all other Secured Obligations in any order and proportions as Mortgagee in its sole discretion may choose; and 
 (d) Fourth, to remit the remainder, if any, to the person or persons entitled to it. 
 6.5 Application of Rents and Other Sums. Mortgagee shall apply any and all Rents collected by it, and any and all sums other than proceeds of a Foreclosure Sale which Mortgagee may receive or
collect under Section 6.2 above, in the following manner: 
 (a) First, to pay the portion of the
Secured Obligations attributable to the costs and expenses of operation and collection that may be incurred by Mortgagee or any receiver; 
 (b) Second, to pay all other Secured Obligations in any order and proportions as Mortgagee in its sole discretion may choose; and 

(c) Third, to remit the remainder, if any, to the person or persons entitled to it. 

Mortgagee shall have no liability for any funds which it does not actually receive. 

 

	7.	Miscellaneous Provisions. 

 7.1 Additional Provisions. The Loan Documents fully state all of the terms and conditions of the parties’ agreement regarding the matters mentioned in or incidental to this Mortgage. The Loan
Documents also grant further rights to Mortgagee and contain further agreements and affirmative and negative covenants by Mortgagor which apply to this Mortgage and to the Property. 

7.2 No Waiver or Cure. 
 (a) Each waiver by Mortgagee must be in writing, and no waiver shall be construed as a continuing waiver. No waiver shall be implied from any delay or failure by Mortgagee to take action on account of any
default of Mortgagor. Consent by Mortgagee to any act or omission by Mortgagor shall not be construed as a consent to any other or subsequent act or omission or to waive the requirement for Mortgagee’s consent to be obtained in any future or
other instance. 
 (b) If any of the events described below occurs, that event alone shall not: cure or waive any
breach, Event of Default or notice of default under this Mortgage or invalidate any act performed pursuant to any such default or notice; or nullify the effect of any notice of default or sale (unless all Secured Obligations then due have been paid
and performed and all other defaults under the Loan Documents have been cured); or impair the security of this Mortgage; or prejudice Mortgagee or any receiver in the 

  

			
	MORTGAGE	  	 Page
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exercise of any right or remedy afforded any of them under this Mortgage; or be construed as an affirmation by Mortgagee of any tenancy, lease or option, or a subordination of the lien of this
Mortgage. 
 (i) Mortgagee, its agent or a receiver takes possession of all or any part of the Property in the
manner provided in Subsection 6.2(c). 
 (ii) Mortgagee collects and applies Rents as permitted under
Sections 2.3 and 6.5 above, either with or without taking possession of all or any part of the Property. 
 (iii) Mortgagee receives and applies to any Secured Obligation any proceeds of any Property, including any proceeds of insurance policies, condemnation awards, or other claims, property or rights assigned
to Mortgagee under Section 5.5 above. 
 (iv) Mortgagee makes a site visit, observes the Property
and/or conducts tests as permitted under Section 5.12 above. 
 (v) Mortgagee receives any sums under
this Mortgage or any proceeds of any collateral held for any of the Secured Obligations, and applies them to one or more Secured Obligations. 
 (vi) Mortgagee or any receiver invokes any right or remedy provided under this Mortgage. 
 7.3 Powers of Mortgagee. 
 (a) If Mortgagee performs any act
which it is empowered or authorized to perform under this Mortgage, including any act permitted by Section 5.7 or Subsection 6.2(d) of this Mortgage, that act alone shall not release or change the personal liability of any person
for the payment and performance of the Secured Obligations then outstanding, or the lien of this Mortgage on all or the remainder of the Property for full payment and performance of all outstanding Secured Obligations. The liability of the original
Mortgagor shall not be released or changed if Mortgagee grants any successor in interest to Mortgagor any extension of time for payment, or modification of the terms of payment, of any Secured Obligation. Mortgagee shall not be required to comply
with any demand by the original Mortgagor that Mortgagee refuse to grant such an extension or modification to, or commence proceedings against, any such successor in interest. 

(b) Mortgagee may take any of the actions permitted under Subsections 6.2(b) and/or 6.2(c) regardless
of the adequacy of the security for the Secured Obligations, or whether any or all of the Secured Obligations have been declared to be immediately due and payable, or whether notice of default and election to sell has been given under this Mortgage.

 (c) From time to time, Mortgagee may apply to any court of competent jurisdiction for aid and direction in
executing and enforcing the rights and remedies 

  

			
	MORTGAGE	  	 Page
 16

 
created under this Mortgage. Mortgagee may from time to time obtain orders or decrees directing, confirming or approving acts in executing and enforcing these rights and remedies. 

7.4 Merger. No merger shall occur as a result of Mortgagee’s acquiring any other estate in or any other lien on the Property
unless Mortgagee consents to a merger in writing. 
 7.5 Joint and Several Liability. If Mortgagor consists of more than
one person, each shall be jointly and severally liable for the faithful performance of all of Mortgagor’s obligations under this Mortgage. 
 7.6 Applicable Law. The creation, perfection and enforcement of the lien of this Mortgage shall be governed by the law of the State in which the Property is located. Subject to the foregoing, in
all other respects, this Mortgage shall be governed by the substantive laws of the State of Ohio. 
 7.7 Successors in
Interest. The terms, covenants and conditions of this Mortgage shall be binding upon and inure to the benefit of the heirs, successors and assigns of the parties. 
 7.8 Interpretation. 
 (a) Whenever the context requires, all
words used in the singular will be construed to have been used in the plural, and vice versa, and each gender will include any other gender. The captions of the sections of this Mortgage are for convenience only and do not define or limit any terms
or provisions. The word “include(s)” means “include(s), without limitation,” and the word “including” means “including, but not limited to.” 

(b) The word “obligations” is used in its broadest and most comprehensive sense, and includes all primary,
secondary, direct, indirect, fixed and contingent obligations. It further includes all principal, interest, prepayment charges, late charges, loan fees and any other fees and charges accruing or assessed at any time, as well as all obligations to
perform acts or satisfy conditions. 
 (c) No listing of specific instances, items or matters in any way limits
the scope or generality of any language of this Mortgage. The Exhibits to this Mortgage are hereby incorporated in this Mortgage. 
 7.9 In-House Counsel Fees. Whenever Mortgagor is obligated to pay or reimburse Mortgagee for any attorneys’ fees, those fees shall include the allocated
costs for services of in-house counsel. 
 7.10 Waiver of Statutory Rights. To
the extent permitted by law, Mortgagor hereby agrees that it shall not and will not apply for or avail itself of any appraisement, valuation, stay, extension or exemption laws, or any so-called
“Moratorium Laws,” now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, but hereby waives the benefit of such laws. Mortgagor for itself and all who may claim through or under it
waives any and all right to have the property and estates comprising the Property 

  

			
	MORTGAGE	  	 Page
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marshalled upon any foreclosure of the lien hereof and agrees that any court having jurisdiction to foreclose such lien may order the Property sold as an entirety. Mortgagor hereby waives any and
all rights of redemption from sale under any judgment of foreclosure of this Mortgage on behalf of Mortgagor and on behalf of each and every person acquiring any interest in or title to the Property of any nature whatsoever, subsequent to the date
of this Mortgage. The foregoing waiver of right of redemption is made pursuant to the provisions of applicable law. 
 7.11
Severability. If any provision of this Mortgage should be held unenforceable or void, that provision shall be deemed severable from the remaining provisions and shall in no way affect the validity of this Mortgage except that if such
provision relates to the payment of any monetary sum, then Mortgagee may, at its option, declare all Secured Obligations immediately due and payable. 
 7.12 Notices. Any notice, demand, request or other communication which any party hereto may be required or may desire to give hereunder shall be in writing and shall be deemed to have been properly
given (a) if hand delivered, when delivered; (b) if mailed by United States Certified Mail (postage prepaid, return receipt requested), three Business Days after mailing (c) if by Federal Express or other reliable overnight courier
service, on the next Business Day after delivered to such courier service or (d) if by telecopier on the day of transmission so long as copy is sent on the same day by overnight courier as set forth below: 

 

					
	Mortgagor:            	  	CHT Council Bluffs IA Senior Living, LLC
		  	c/o CNL Healthcare Properties, Inc.
		  	450 South Orange Avenue
		  	Orlando, Florida 32801
		  	Attention:	 	Joseph T. Johnson, Senior Vice President and Chief Financial Officer
		  	Attention:	 	Holly Greer, Esq., Senior Vice President and General Counsel
		  	Telephone:	 	(407) 540-7500
		  	Facsimile:	 	(407) 540-2544
		
	With a copy to:    	  	Lowndes Drosdick Doster Kantor & Reed, P.A.
		  	215 North Eola Drive
		  	Orlando, Florida 32801
		  	Attention:	 	Peter L. Lopez, Esq.
		  	Telephone:	 	(407) 843-4600
		  	Facsimile:	 	(407) 843-4444
		
	Mortgagee:	  	KeyBank National Association
		  	Mailcode: OH-01-51-0311
		  	4910 Tiedeman Road, 3rd Floor
		  	Brooklyn, Ohio 44144
		  	Attention:	 	Amy L. MacLearie,
		  		 	KREC Commercial Loan Closer-Assistant Vice President
		  	Telephone:	 	(216) 813-6935
		  	Facsimile:	 	(216) 357-6383

  

			
	MORTGAGE	  	 Page
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	 With a copy to:
	 	 Alfred G. Kyle, Esq.

		 	 Bracewell & Giuliani LLP

		 	 1445 Ross Avenue, Suite 3800

		 	 Dallas, Texas 75202

		 	 Telephone:
	 	(214) 758-1660
		 	 Facsimile:
	 	(214) 758-8360

 or at such other address as the party to be served with notice may have furnished in writing to the party seeking or
desiring to serve notice as a place for the service of notice. 
 7.13 Future Advances. The total amount of indebtedness
secured hereby may increase or decrease from time to time, but the total unpaid principal balance of indebtedness secured hereby (including disbursements that Mortgagee may, but shall not be obligated to, make under this Mortgage, the Loan Documents
or any other document with respect thereto) at any one time outstanding may be substantially less but shall not exceed THIRTEEN MILLION FIVE HUNDRED THIRTY THOUSAND AND NO/100 DOLLARS ($13,530,000.00), plus interest thereon, and any disbursements
made for the enforcement of this Mortgage and any remedies hereunder, payment of taxes, special assessments, utilities or insurance on the Property and interest on such disbursements and all disbursements by Mortgagee pursuant to applicable law (all
such indebtedness being hereinafter referred to as the maximum amount secured hereby). This Mortgage shall be valid and have priority to the extent of the maximum amount secured hereby over all subsequent liens and encumbrances, including statutory
liens, excepting solely taxes and assessments levied on the Property given priority by law. 
 7.14 Mortgagee’s Lien for
Service Charge and Expenses. At all times, regardless of whether any Loan proceeds have been disbursed, this Mortgage secures (in addition to any Loan proceeds disbursed from time to time) the payment of any and all loan commissions, service
charges, liquidated damages, expenses and advances due to or incurred by Mortgagee not to exceed the maximum amount secured hereby. For purposes hereof, all obligations of Mortgagor to Mortgagee under all Interest Rate Agreements and any
indebtedness or obligation contained therein or evidenced thereby shall be considered an obligation of Mortgagor secured hereby. 
 7.15 WAIVER OF TRIAL BY JURY. MORTGAGOR HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT THAT IT MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION ARISING IN ANY WAY IN CONNECTION WITH
THIS MORTGAGE, THE NOTES, OR ANY OF THE OTHER LOAN DOCUMENTS, THE LOAN OR ANY OTHER STATEMENTS OR ACTIONS OF MORTGAGOR OR MORTGAGEE. MORTGAGOR ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED IN THE SIGNING OF THIS MORTGAGE AND IN THE MAKING OF THIS WAIVER
BY INDEPENDENT LEGAL COUNSEL SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS DISCUSSED THIS WAIVER WITH SUCH LEGAL COUNSEL. MORTGAGOR FURTHER ACKNOWLEDGES THAT (i) IT HAS READ AND UNDERSTANDS THE MEANING AND RAMIFICATIONS OF THIS WAIVER,
(ii) THIS WAIVER IS A MATERIAL INDUCEMENT FOR MORTGAGEE TO MAKE THE LOAN, ENTER INTO THIS MORTGAGE AND EACH OF THE OTHER LOAN DOCUMENTS, AND (iii) THIS WAIVER SHALL BE EFFECTIVE AS TO EACH OF SUCH OTHER LOAN DOCUMENTS AS IF FULLY
INCORPORATED THEREIN. 

  

			
	MORTGAGE	  	 Page
 19

 7.16 Inconsistencies. 

In the event of any inconsistency between this Mortgage and the Credit Agreement, the terms hereof shall be controlling as necessary to
create, preserve and/or maintain a valid security interest upon the Property, otherwise the provisions of the Credit Agreement shall be controlling. 
 7.17 UCC Financing Statements. 
 Mortgagor hereby authorizes Mortgagee to
file UCC financing statements to perfect Mortgagee’s security interest in any part of the Property. In addition, Mortgagor agrees to sign any and all other documents that Mortgagee deems necessary in its sole discretion to perfect, protect, and
continue Mortgagee’s lien and security interest on the Property. 
 7.18 Business Purpose. 

The Secured Obligations secured by this Mortgage are “business obligations” and no portion of any proceeds of any Secured
Obligation is to be used for personal, family or household purposes. 
 Mortgagor acknowledges receipt of a copy of this
Mortgage signed by Mortgagor. 
 IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS MORTGAGE SHOULD BE READ CAREFULLY BECAUSE
ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. 

  

			
	MORTGAGE	  	 Page
 20

 IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the date first above written.

  

			
	MORTGAGOR:
	
	CHT COUNCIL BLUFFS IA SENIOR LIVING, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President

  

			
	STATE OF FLORIDA	  	)
		  	:
	COUNTY OF ORANGE	  	)

 I, the undersigned, a Notary Public in and for said County in said State, hereby certify that Joshua J.
Taube, whose name as Vice President of CHT COUNCIL BLUFFS IA SENIOR LIVING, LLC, a Delaware limited liability company, is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of
the contents of said instrument, he as such Vice President and with full authority, executed the same voluntarily for and as the act of said limited liability company on the day the same bears date. Given under my hand and official seal this 13th
day of August, 2013. 
  

	
	 /s/ Cathleen A. Coffey

	                              
  Notary Public
	
	 My Commission Expires: September 24, 2013

  

			
	MORTGAGE	  	 Page
 21

 EXHIBIT A 

Description of Premises 
 [Omitted as not necessary to an understanding of the Agreement] 

  

			
	MORTGAGE	  	Page 1

 EXHIBIT B 

Permitted Exceptions 
 [Omitted as not necessary to an understanding of the Agreement] 

  

			
	MORTGAGE	  	Page 2Promissory Note

 Exhibit 10.3 
 PROMISSORY NOTE 
  

					
	$15,000,000.00	  	Dallas, Texas	  	August 19, 2013

 FOR VALUE RECEIVED, the undersigned (“Borrowers”), hereby promise to pay to BANK OF
AMERICA, N.A., a national banking association, or registered assigns (“Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Loan from time to time made by the Lender to
Borrowers under that certain Credit Agreement, dated as of August 19, 2013 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein
as therein defined), among Borrowers, the lenders from time to time party thereto, and KeyBank National Association, as Administrative Agent. 
 Borrowers promise to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided
in the Agreement. All payments of principal and interest shall be made to Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder,
such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 

This Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part
subject to the terms and conditions provided therein. This Note is secured by the Collateral. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Note
shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business.
The Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 
 Each Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Note. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO. 

THIS PROMISSORY NOTE WAS EXECUTED IN THE STATE OF FLORIDA. ACCORDINGLY, DOCUMENTARY STAMP TAX IN THE AMOUNT OF $2,450.00 WILL BE PAID BY
MAKER TO THE FLORIDA DEPARTMENT OF REVENUE UPON EXECUTION AND DELIVERY OF THIS PROMISSORY NOTE. 

  

			
	PROMISSORY NOTE	  	 Page
 1

 
							
	BORROWERS:
	
	CHP PARTNERS, LP, a Delaware limited partnership
		
	By:	 	CHP GP, LLC, a Delaware limited liability company, General Partner
			
		 	By:	 	 CNL Healthcare Properties, Inc., a
 Maryland corporation, Sole Member

				
		 		 	By:	 	 /s/ Joshua J. Taube

		 		 		 	Joshua J. Taube, Vice President
	
	CNL HEALTHCARE PROPERTIES, INC., a Maryland corporation
		
	By:	 	 /s/ Joshua J. Taube

		 	Joshua J. Taube, Vice President

  

			
	PROMISSORY NOTE	  	 Page
 2

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