Document:

Guaranty Agreement

 Exhibit 10.11 
 GUARANTY AGREEMENT 
 THIS GUARANTY AGREEMENT
(“Guaranty”) made as of February 16, 2012, by CNL HEALTHCARE TRUST, INC., a Maryland corporation (f/k/a CNL Properties Trust, Inc.) (“Guarantor”), to and for the benefit of KEYBANK NATIONAL ASSOCIATION, a
national banking association, its successors and assigns (“Lender”). 
 R E C
I T A L S 
 A. On or about the date hereof, CHT Partners, LP
(“CHT LP”), CHT Senior Living Holding, LLC (“CHT Holding”), CHT Casper WY Senior Living, LLC (“CHT Casper”), CHT Grand Island NE Senior Living, LLC (“CHT GI”), CHT Billings MT
Senior Living, LLC (“CHT Billings”), CHT Marion OH Senior Living, LLC (“CHT Marion”) and CHT Mansfield OH Senior Living, LLC (“CHT Mansfield”) (CHT LP, CHT Holding, CHT Casper, CHT GI, CHT Billings,
CHT Marion and CHT Mansfield being collectively referred to as the “Borrower”) and Lender entered into that certain Secured Loan Agreement (as the same may be hereafter amended, restated, supplemented or otherwise modified pursuant
to the terms thereof, the “Loan Agreement”) whereby Lender agreed to make a secured loan (the “Loan”) available to Borrowers in the maximum aggregate amount at any time outstanding not to exceed the sum of
Seventy-One Million Four Hundred Thousand and No/100 Dollars ($71,400,000.00), for the acquisition of the Projects. 
 B. In connection with the Loan, Borrowers have executed and delivered to Lender a Note in favor of Lender of even date herewith (as the same may be hereafter amended, restated, renewed, extended,
supplemented or otherwise modified pursuant to the terms thereof, the “Note”) in the principal amount of the Loan, payment of which is secured by (i) the Mortgages and (ii) the other Loan Documents. 

C. Guarantor will derive financial benefit from the Loan evidenced and secured by the Note, the Mortgages and the other
Loan Documents. 
 D. Lender has relied on the statements and agreements contained herein in agreeing to make
the Loan. The execution and delivery of this Guaranty by Guarantor is a condition precedent to the making of the Loan by Lender. 

AGREEMENTS 
 NOW, THEREFORE, intending to be legally bound, Guarantor, in consideration of the matters described in the foregoing Recitals, which Recitals are incorporated herein and made a part hereof, and for other
good and valuable consideration the receipt and sufficiency of which are acknowledged, hereby covenants and agrees for the benefit of Lender and its respective successors, indorsees, transferees, participants and assigns as follows: 

1. Guarantor absolutely, unconditionally and irrevocably guarantees to Lender: 

(a) the full and prompt payment of the principal of and interest on the Note when due, whether at stated
maturity, upon acceleration or otherwise, and at all times thereafter; and 

  
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 (b) the full and prompt payment of all sums which may now be
or may hereafter become due and owing under the Note, the Loan Agreement and the other Loan Documents. 
 All amounts due,
debts, liabilities and payment obligations described in the (a) and (b) of this Section 1 shall be hereinafter collectively referred to as the “Indebtedness.” 

2. In the event of any default by Borrowers in the payment of the Indebtedness, after the expiration of any applicable
cure or grace period, Guarantor agrees, on demand by Lender or the holder of the Note to pay the Indebtedness regardless of any defense, right of set-off or claims which any Borrower or Guarantor may have against Lender or the holder of the Note.

 All of the remedies set forth herein and/or provided for in any of the Loan Documents or at law or equity
shall be equally available to Lender, and the choice by Lender of one such alternative over another shall not be subject to question or challenge by Guarantor or any other person, nor shall any such choice be asserted as a defense, setoff, or
failure to mitigate damages in any action, proceeding, or counteraction by Lender to recover or seeking any other remedy under this Guaranty, nor shall such choice preclude Lender from subsequently electing to exercise a different remedy. The
parties have agreed to the alternative remedies provided herein in part because they recognize that the choice of remedies in the event of a default hereunder will necessarily be and should properly be a matter of good faith business judgment, which
the passage of time and events may or may not prove to have been the best choice to maximize recovery by Lender at the lowest cost to Borrowers and/or Guarantor. It is the intention of the parties that such good faith choice by Lender be given
conclusive effect regardless of such subsequent developments. 
 3. Guarantor does hereby (a) waive notice
of acceptance of this Guaranty by Lender and any and all notices and demands of every kind which may be required to be given by any statute, rule or law, (b) agree to refrain from asserting, until after repayment in full of the Loan, any
defense, right of set-off or other claim which Guarantor may have against Borrowers (c) waive any defense, right of set-off or other claim which Guarantor or any Borrower may have against Lender, or the holder of the Note, (d) waive any
and all rights Guarantor may have under any anti-deficiency statute or other similar protections, (e) waive presentment for payment, demand for payment, notice of nonpayment or dishonor, protest and notice of protest, diligence in collection
and any and all formalities which otherwise might be legally required to charge Guarantor with liability, and (f) waive any failure by Lender to inform Guarantor of any facts Lender may now or hereafter know about any Borrower, any Project, the
Loan, or the transactions contemplated by the Loan Agreement, it being understood and agreed that Lender has no duty so to inform and that Guarantor is fully responsible for being and remaining informed by Borrower of all circumstances bearing on
the risk of nonperformance of Borrower’s obligations. Credit may be granted or continued from time to time by Lender to any Borrower without notice to or authorization from Guarantor, regardless of the financial or other condition of such
Borrower at the time of any such grant or continuation. Lender shall have no obligation to disclose or discuss with Guarantor its assessment of the financial condition of such Borrower. Guarantor acknowledges that no representations of any kind
whatsoever have been made by Lender. No modification or waiver of any of the provisions of this Guaranty shall be binding upon Lender except as expressly set forth in a writing duly signed and delivered by Lender. 

  
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 4. Guarantor further agrees that Guarantor’s liability as guarantor
shall in not be impaired or affected by any renewals or extensions which may be made from time to time, with or without the knowledge or consent of Guarantor of the time for payment of interest or principal under the Note or by any forbearance or
delay in collecting interest or principal under the Note, or by any waiver by Lender under the Loan Agreement, any Mortgage or any other Loan Documents, or by Lender’s failure or election not to pursue any other remedies it may have against any
Borrower or Guarantor, or by any change or modification in the Note, Loan Agreement, any Mortgage or any other Loan Document, or by the acceptance by Lender of any additional security or any increase, substitution or change therein, or by the
release by Lender of any security or any withdrawal thereof or decrease therein, or by the application of payments received from any source to the payment of any obligation other than the Indebtedness even though Lender might lawfully have elected
to apply such payments to any part or all of the Indebtedness, it being the intent hereof that, subject to Lender’s compliance with the terms of this Guaranty, Guarantor shall remain liable for the payment of the Indebtedness, until the
Indebtedness has been paid in full, notwithstanding any act or thing which might otherwise operate as a legal or equitable discharge of a surety. Guarantor further understands and agrees that Lender may at any time enter into agreements with
Borrowers to amend and modify the Note, Loan Agreement, any Mortgage or other Loan Documents, and may waive or release any provision or provisions of the Note, Loan Agreement, Mortgages and other Loan Documents or any thereof, and, with reference to
such instruments, may make and enter into any such agreement or agreements as Lender and Borrowers may deem proper and desirable, without in any manner impairing or affecting this Guaranty or any of Lender’s rights hereunder or Guarantor’s
obligations hereunder. However, Lender agrees to make a commercially reasonable effort to provide to Guarantor a copy of any such amendment, modification, waiver or release within ten (10) days of execution of same. 

5. This is an absolute, present and continuing guaranty of payment and not of collection. Guarantor agrees that this
Guaranty may be enforced by Lender without the necessity at any time of resorting to or exhausting any other security or collateral given in connection herewith or with the Note, Loan Agreement, any Mortgage or any of the other Loan Documents
through foreclosure or sale proceedings, as the case may be, under any Mortgage or otherwise, or resorting to any other guaranties, and Guarantor hereby waives any right to require Lender to join any Borrower in any action brought hereunder or to
commence any action against or obtain any judgment against any Borrower or to pursue any other remedy or enforce any other right. Guarantor further agrees that nothing contained herein or otherwise shall prevent Lender from pursuing concurrently or
successively all rights and remedies available to it at law and/or in equity or under the Note, Loan Agreement, any Mortgage or any other Loan Documents, and the exercise of any of its rights or the completion of any of its remedies shall not
constitute a discharge of Guarantor’s obligations hereunder, it being the purpose and intent of Guarantor that the obligations of Guarantor hereunder shall be absolute, independent and unconditional under any and all circumstances whatsoever.
None of Guarantor’s obligations under this Guaranty or any remedy for the enforcement thereof shall be impaired, modified, changed or released in any manner whatsoever by any impairment, modification, change, release or limitation of the
liability of any Borrower under the Note, Loan Agreement, any Mortgage or other Loan Documents or by reason of the bankruptcy of any Borrower or by reason of any creditor or bankruptcy proceeding instituted by or against any Borrower. This Guaranty
shall continue to be effective or be reinstated (as the case may be) if at any time payment of all or any part of any sum payable pursuant to the Note, Loan Agreement, any Mortgage or any other Loan Document is rescinded or otherwise required to be
returned by Lender upon the insolvency, bankruptcy, dissolution, liquidation, or reorganization of any Borrower, or upon or as a result of the appointment of a receiver, intervenor, custodian or conservator of or trustee or similar officer for, any
Borrower or any substantial part of its property, or otherwise, all as though such payment to Lender had not been made, regardless of whether Lender contested the order requiring the return of such payment. In the event of the foreclosure of any
Mortgage and of a deficiency, Guarantor hereby promises and agrees forthwith to pay the amount of such deficiency notwithstanding the fact that recovery of said deficiency against Borrowers would not be allowed by applicable law; however, the
foregoing shall not be deemed to require that Lender institute foreclosure proceedings or otherwise resort to or exhaust any other collateral or security prior to or concurrently with enforcing this Guaranty. 

  
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 6. In the event Lender or any holder of the Note shall assign the Note to
any Lender or other entity to secure a loan from such Lender or other entity to Lender or such holder for an amount not in excess of the amount which will be due, from time to time, from Borrowers to Lender under the Note with interest not in excess
of the rate of interest which is payable by Borrowers to Lender under the Note, Guarantor will accord full recognition thereto and agree that all rights and remedies of Lender or such holder hereunder shall be enforceable against Guarantor by such
Lender or other entity with the same force and effect and to the same extent as would have been enforceable by Lender or such holder but for such assignment; provided, however, that unless Lender shall otherwise consent in writing, Lender shall have
an unimpaired right, prior and superior to that of its assignee or transferee, to enforce this Guaranty for Lender’s benefit to the extent any portion of the Indebtedness or any interest therein is not assigned or transferred. 

7. If: (a) this Guaranty is placed in the hands of an attorney for collection or is collected through any legal
proceeding; (b) an attorney is retained to represent Lender in any bankruptcy, reorganization, receivership, or other proceedings affecting creditors’ rights and involving a claim under this Guaranty; or (c) an attorney is retained to
represent Lender in any proceedings whatsoever in connection with this Guaranty and Lender prevails in any such proceedings, then Guarantor shall pay to Lender upon demand all reasonable attorney’s fees, costs and expenses incurred in
connection therewith (all of which are referred to herein as “Enforcement Costs”), in addition to all other amounts due hereunder, regardless of whether all or a portion of such Enforcement Costs are incurred in a single proceeding
brought to enforce this Guaranty as well as the other Loan Documents. 
 8. The parties hereto intend and
believe that each provision in this Guaranty comports with all applicable local, state and federal laws and judicial decisions. However, if any provision or provisions, or if any portion of any provision or provisions, in this Guaranty is found by a
court of law to be in violation of any applicable local, state or federal ordinance, statute, law, administrative or judicial decision, or public policy, and if such court should declare such portion, provision or provisions of this Guaranty to be
illegal, invalid, unlawful, void or unenforceable as written, then it is the intent of all parties hereto that such portion, provision or provisions shall be given force to the fullest possible extent that they are legal, valid and enforceable, that
the remainder of this Guaranty shall be construed as if such illegal, invalid, unlawful, void or unenforceable portion, provision or provisions were not contained therein, and that the rights, obligations and interest of Lender or the holder of the
Note under the remainder of this Guaranty shall continue in full force and effect. 

  
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 9. TO THE GREATEST EXTENT PERMITTED BY LAW, GUARANTOR HEREBY
WAIVES ANY AND ALL RIGHTS TO REQUIRE MARSHALLING OF ASSETS BY LENDER. WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDINGS RELATING TO THIS GUARANTY (EACH, A “PROCEEDING”), LENDER AND GUARANTOR IRREVOCABLY (A) SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS HAVING JURISDICTION IN THE COUNTY OF CUYAHOGA AND STATE OF OHIO, AND (B) WAIVES ANY OBJECTION WHICH IT MAY HAVE AT ANY TIME TO THE LAYING OF VENUE OF ANY PROCEEDING BROUGHT IN ANY SUCH
COURT, WAIVES ANY CLAIM THAT ANY PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM AND FURTHER WAIVES THE RIGHT TO OBJECT, WITH RESPECT TO SUCH PROCEEDING, THAT SUCH COURT DOES NOT HAVE JURISDICTION OVER SUCH PARTY. NOTHING IN THIS GUARANTY SHALL
PRECLUDE LENDER FROM BRINGING A PROCEEDING IN ANY OTHER JURISDICTION NOR WILL THE BRINGING OF A PROCEEDING IN ANY ONE OR MORE JURISDICTIONS PRECLUDE THE BRINGING OF A PROCEEDING IN ANY OTHER JURISDICTION. LENDER AND GUARANTOR FURTHER AGREE AND
CONSENT THAT, IN ADDITION TO ANY METHODS OF SERVICE OF PROCESS PROVIDED FOR UNDER APPLICABLE LAW, ALL SERVICE OF PROCESS IN ANY PROCEEDING IN ANY STATE OR UNITED STATES COURT SITTING IN THE COUNTY OF CUYAHOGA AND MAY BE MADE BY CERTIFIED OR
REGISTERED MAIL, RETURN RECEIPT REQUESTED, DIRECTED TO THE APPLICABLE PARTY AT THE ADDRESS INDICATED BELOW, AND SERVICE SO MADE SHALL BE COMPLETE UPON RECEIPT; EXCEPT THAT IF SUCH PARTY SHALL REFUSE TO ACCEPT DELIVERY, SERVICE SHALL BE DEEMED
COMPLETE FIVE (5) DAYS AFTER THE SAME SHALL HAVE BEEN SO MAILED. 
 10. Any indebtedness of any
Borrower to Guarantor now or hereafter existing is hereby subordinated to the payment of the Indebtedness. Guarantor agrees that, until the entire Indebtedness has been paid in full, Guarantor will not seek, accept, or retain for its own account,
any payment from any Borrower on account of such subordinated debt. Any payments to Guarantor on account of such subordinated debt shall be collected and received by Guarantor in trust for Lender and shall be paid over to Lender on account of the
Indebtedness without impairing or releasing the obligations of Guarantor hereunder. 
 11. Any amounts received
by Lender from any source on account of the Loan may be utilized by Lender for the payment of the Indebtedness and any other obligations of any Borrower to Lender in such order as Lender may from time to time elect. Additionally, if the indebtedness
guaranteed hereby is less than the full indebtedness evidenced by the Note, all rents, proceeds and avails of the Projects, including proceeds of realization of Lender’s collateral, shall be deemed applied on the indebtedness of Borrowers to
Lender that is not guaranteed by Guarantor until such unguaranteed indebtedness of Borrowers to Lender has been fully repaid before being applied upon the indebtedness guaranteed by Guarantor. 

  
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 12. GUARANTOR AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY WAIVE
ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHT UNDER THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR RELATING THERETO OR ARISING FROM THE LENDING RELATIONSHIP WHICH IS THE SUBJECT OF THIS GUARANTY AND AGREE THAT
ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. 
 13. 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: 
  

					
	Guarantor:	  	 CNL Healthcare Trust, 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
		
	Lender:	  	 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

  
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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. 
 14. In order to induce Lender to
make the Loan, Guarantor makes the following representations and warranties to Lender set forth in this Section. Guarantor acknowledges that but for the truth and accuracy of the matters covered by the following representations and warranties,
Lender would not have agreed to make the Loan. 
 (a) Guarantor is duly formed, validly existing,
and in good standing in its state of organization and has qualified to do business and is in good standing in any state in which it is necessary in the conduct of its business. 

(b) Guarantor maintains an office at the address set forth for such party in Section 13.

 (c) Any and all balance sheets, net worth statements, and other financial data with respect to
Guarantor which have heretofore been given to Lender by or on behalf of Guarantor fairly and accurately present the financial condition of Guarantor as of the respective dates thereof. 

(d) The execution, delivery, and performance by Guarantor of this Guaranty does not and will not
contravene or conflict with (i) any Laws, order, rule, regulation, writ, injunction or decree now in effect of any Government Authority, or court having jurisdiction over Guarantor, (ii) any contractual restriction binding on or affecting
Guarantor or Guarantor’s property or assets which may adversely affect Guarantor’s ability to fulfill its obligations under this Guaranty, (iii) the instruments creating any trust holding title to any assets included in
Guarantor’s financial statements, or (iv) the organizational or other documents of Guarantor. 
 (e) This Guaranty creates legal, valid, and binding obligations of Guarantor enforceable in accordance with its terms. 

(f) Except as disclosed in writing to Lender, there is no action, proceeding, or investigation pending or,
to the knowledge of Guarantor, threatened or affecting Guarantor, which may adversely affect Guarantor’s ability to fulfill his obligations under this Guaranty. There are no judgments or orders for the payment of money rendered against
Guarantor for an amount in excess of $100,000 which have been undischarged for a period of ten (10) or more consecutive days and the enforcement of which is not stayed by reason of a pending appeal or otherwise. Guarantor is not in default
under any agreements which may adversely affect Guarantor’s ability to fulfill its obligations under this Guaranty. 

  
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 (g) All statements set forth in the Recitals are true and
correct. 
 Guarantor hereby agrees to indemnify and hold Lender free and harmless from and against all loss, cost, liability,
damage, and expense, including attorney’s fees and costs, which Lender may sustain by reason of the inaccuracy or breach of any of the foregoing representations and warranties as of the date the foregoing representations and warranties are made
and are remade. 
 15. Guarantor shall deliver or cause to be delivered to Lender all of the Guarantor financial
statements to be delivered in accordance with the terms of the Loan Agreement. 
 16. This Guaranty shall be
binding upon the heirs, executors, legal and personal representatives, successors and assigns of Guarantor. 

17. THIS GUARANTY, THE NOTE, AND ALL OTHER INSTRUMENTS EVIDENCING AND SECURING THE LOAN SECURED HEREBY WERE
DELIVERED BY GUARANTOR OR ANY BORROWER, AS APPLICABLE, AND ACCEPTED BY LENDER IN THE STATE OF OHIO, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND THE UNDERLYING TRANSACTIONS EMBODIED HEREBY. IN ALL RESPECTS,
INCLUDING, WITHOUT LIMITATION, MATTERS OF CONSTRUCTION OF THE IMPROVEMENTS AND PERFORMANCE OF THIS GUARANTY AND THE OBLIGATIONS ARISING HEREUNDER, THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE
OF OHIO APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
 18. Lender shall be entitled to honor any request for Loan proceeds made by any Borrower and shall have no obligation to see to the proper disposition of such advances. Guarantor agrees that his
obligations hereunder shall not be released or affected by reason of any improper disposition by Borrowers of such Loan proceeds. 
 19. This Guaranty may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same instrument. 

  
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 IN WITNESS WHEREOF, Guarantor has delivered this Guaranty in the State of
Ohio as of the date first written above. 
  

			
	GUARANTOR:
	
	CNL HEALTHCARE TRUST, INC., a Maryland corporation (f/k/a CNL Properties Trust, Inc.)
		
	By:	 	 /s/ Kevin Maddron

	Name:	 	 Kevin Maddron

	Title:	 	 Senior Vice President

  
 Page 9Open-End Mortgage

 Exhibit 10.12 
 OPEN-END MORTGAGE 
 ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND

 FIXTURE FILING 
 MADE BY 
 CHT MARION OH SENIOR LIVING, LLC 

as Mortgagor 
 to 
 KEYBANK NATIONAL ASSOCIATION 

as Mortgagee 
  

 
 Dated as of:
February 16, 2012 
 PREPARED BY AND UPON RECORDATION RETURN TO: 

Bracewell & Giuliani LLP 
 1445 Ross Avenue, Suite 3800 
 Dallas, Texas 75202-2711 

Attention: Alfred G. Kyle, Esq. 

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
			
	 1.
	  	 GRANT AND SECURED OBLIGATIONS
	  	 	1	  
				
		  	 1.1
	  	 Grant
	  	 	1	  
				
		  	 1.2
	  	 Secured Obligations
	  	 	3	  
			
	 2.
	  	 ASSIGNMENT OF RENTS
	  	 	4	  
				
		  	 2.1
	  	 Assignment
	  	 	4	  
				
		  	 2.2
	  	 Grant of License
	  	 	4	  
				
		  	 2.3
	  	 Collection and Application of Rents
	  	 	4	  
				
		  	 2.4
	  	 Mortgagee Not Responsible
	  	 	5	  
				
		  	 2.5
	  	 Leasing
	  	 	5	  
			
	 3.
	  	 GRANT OF SECURITY INTEREST
	  	 	5	  
				
		  	 3.1
	  	 Security Agreement
	  	 	5	  
				
		  	 3.2
	  	 Financing Statements
	  	 	5	  
			
	 4.
	  	 FIXTURE FILING
	  	 	6	  
			
	 5.
	  	 RIGHTS AND DUTIES OF THE PARTIES
	  	 	6	  
				
		  	 5.1
	  	 Representations and Warranties
	  	 	6	  
				
		  	 5.2
	  	 Taxes, and Assessments
	  	 	6	  
				
		  	 5.3
	  	 Performance of Secured Obligations
	  	 	6	  
				
		  	 5.4
	  	 Liens, Charges and Encumbrances
	  	 	6	  
				
		  	 5.5
	  	 Damages and Insurance and Condemnation Proceeds
	  	 	6	  
				
		  	 5.6
	  	 Maintenance and Preservation of Property
	  	 	7	  
				
		  	 5.7
	  	 Releases, Extensions, Modifications and Additional Security
	  	 	7	  
				
		  	 5.8
	  	 Release
	  	 	8	  
				
		  	 5.9
	  	 Compensation, Exculpation, Indemnification
	  	 	8	  
				
		  	 5.10
	  	 Defense and Notice of Claims and Actions
	  	 	10	  
				
		  	 5.11
	  	 Subrogation
	  	 	10	  
				
		  	 5.12
	  	 Site Visits, Observation and Testing
	  	 	10	  
				
		  	 5.13
	  	 Notice of Change
	  	 	10	  
			
	 6.
	  	 ACCELERATING TRANSFERS, DEFAULT AND REMEDIES
	  	 	11	  
				
		  	 6.1
	  	 Accelerating Transfers
	  	 	11	  
				
		  	 6.2
	  	 Events of Default
	  	 	11	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

									
	 	  	 	  	 	  	Page	 
				
		  	 6.3
	  	 Remedies
	  	 	12	  
				
		  	 6.4
	  	 Credit Bids
	  	 	14	  
				
		  	 6.5
	  	 Application of Foreclosure Sale Proceeds
	  	 	15	  
				
		  	 6.6
	  	 Application of Rents and Other Sums
	  	 	15	  
			
	 7.
	  	 MISCELLANEOUS PROVISIONS
	  	 	15	  
				
		  	 7.1
	  	 Additional Provisions
	  	 	15	  
				
		  	 7.2
	  	 No Waiver or Cure
	  	 	16	  
				
		  	 7.3
	  	 Powers of Mortgagee
	  	 	16	  
				
		  	 7.4
	  	 Merger
	  	 	17	  
				
		  	 7.5
	  	 Joint and Several Liability
	  	 	17	  
				
		  	 7.6
	  	 Applicable Law
	  	 	17	  
				
		  	 7.7
	  	 Successors in Interest
	  	 	17	  
				
		  	 7.8
	  	 Interpretation
	  	 	17	  
				
		  	 7.9
	  	 In-House Counsel Fees
	  	 	18	  
				
		  	 7.10
	  	 Waiver of Statutory Rights
	  	 	18	  
				
		  	 7.11
	  	 Severability
	  	 	18	  
				
		  	 7.12
	  	 Notices
	  	 	18	  
				
		  	 7.13
	  	 Future Advances
	  	 	19	  
				
		  	 7.14
	  	 Mortgagee’s Lien for Service Charge and Expenses
	  	 	20	  
				
		  	 7.15
	  	 WAIVER OF TRIAL BY JURY
	  	 	20	  
				
		  	 7.16
	  	 Inconsistencies
	  	 	20	  
				
		  	 7.17
	  	 Commercial Loan
	  	 	20	  
				
		  	 7.18
	  	 UCC Financing Statements
	  	 	20	  
				
		  	 7.19
	  	 Controlling Agreement
	  	 	21	  

  
 -ii-

 OPEN-END MORTGAGE 

ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND 
 FIXTURE FILING 
 Project Commonly Known As 

“Primrose Retirement Community of Marion” 

THIS OPEN-END MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this
“Mortgage”) is made as of February 16, 2012, by CHT MARION OH SENIOR LIVING, LLC, a Delaware limited liability company (f/k/a CPT Marion OH Senior Living, LLC) (“Mortgagor”), whose organizational identification number is
DE5092174 and address is 450 South Orange Avenue, Orlando, Florida 32801, in favor of KEYBANK NATIONAL ASSOCIATION, a national banking association, its successors and assigns (“Mortgagee”) whose address is 4910 Tiedeman Road, 3rd Floor, Brooklyn, Ohio 44114. 

 

	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 Marion, Ohio, 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 “Land”); 
 (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 Land; 
 (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 Land 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 Land or stored elsewhere) for use or installation in or on the Land 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”); 

  
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 (d) all (i) plans and specifications for the
Improvements; (ii) contracts relating to the Land, 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 Land, 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 Land, 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 Land, or the Improvements or the Accessories or any part
thereof; (v) leases, rents, royalties, bonuses, issues, profits, revenues and other benefits of the Land, 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) 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. 

  
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 For the avoidance of doubt, the term “Property” shall not include
any property owned by Tenant. Capitalized terms used above and elsewhere in this Mortgage without definition have the meanings given them in the Loan 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 a promissory note (the “Note”) bearing
even date herewith, payable by Borrowers as maker in the stated principal amount of Seventy-One Million Four Hundred Thousand Dollars ($71,400,000.00) to the order of Mortgagee; and 

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

(iii) Payment and performance of all obligations of Borrowers under a Secured Loan Agreement bearing even
date herewith among CHT Partners, LP, CHT Senior Living Holding, LLC, CHT Casper WY Senior Living, LLC, CHT Grand Island NE Senior Living, LLC, CHT Billings MT Senior Living, LLC, Mortgagor, CHT Mansfield OH Senior Living, LLC (collectively,
“Borrowers”) and Mortgagee as “Lender” (as the same may be hereafter amended, restated, supplemented or otherwise modified pursuant to the terms thereof, the “Loan Agreement”); and 

(iv) Payment and performance of any obligations of Borrowers under any Loan Documents which are executed
by Borrowers; 
 (v) Payment and performance of all obligations of Borrowers arising from any
Interest Rate Agreements; 
 (vi) Payment and performance of all future advances and other
obligations that any Borrower 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 Mortgagee, 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. 

  
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 (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 Note or the Loan 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. Subject to the terms of the Management Agreement, 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 6.2 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 and the terms of the Management Agreement, 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 
 (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 6.2, 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 6.3(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 6.6. 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.

  
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 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 Land 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 Loan 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. 
 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 reasonable fees and costs that Mortgagee may incur in filing
such documents in public offices and in obtaining such reasonable record searches as Mortgagee may 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. 

  
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	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 Land 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 Land and Improvements; 
 (b) Mortgagor has good and marketable title to all Property other
than the Land 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 contemplated future beneficial use and enjoyment of the Land and Improvements; 
 (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 shall cause Tenant to pay prior to delinquency all taxes, levies, charges and assessments, in accordance with the Loan 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 shall cause Tenant
to immediately discharge any lien on the Property which Mortgagee has not consented to in writing. 
 5.5
Damages and Insurance and Condemnation Proceeds. In the event of any casualty or condemnation of the Property, the provisions of Article 11 of the Loan Agreement shall govern. 

  
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 5.6 Maintenance and Preservation of Property. 

(a) Mortgagor shall or shall cause Tenant to (i) insure the Property as required by the Loan
Agreement and (ii) keep the Property in good condition and repair. 
 (b) Mortgagor shall
not and shall not permit Tenant 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 in any zoning or other land use classification which affects the Property or any part of
it, except as permitted or required by the Loan 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 or shall cause Tenant to promptly and completely repair and/or restore the Property in a good and workmanlike manner in
accordance with sound building practices, subject to the provisions of Article 11 of the Loan Agreement. 
 (d) Mortgagor shall not and shall not permit Tenant 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 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 Loan Agreement. 

(e) Mortgagor shall not and shall not permit Tenant to commit or allow waste of the Property, including
those acts or omissions characterized under the Loan Agreement as waste which arises out of Hazardous Material. 
 (f) Mortgagor shall perform or cause Tenant 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; 

  
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 (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 for any services that Mortgagee
may render in connection with this Mortgage, including providing a statement 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 6.3, 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 6.3(i) below) and any cost of evidence of title. If Mortgagee 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. In any suit to foreclose the lien hereof or enforce any other remedy of Mortgagee
under this Mortgage or the Note, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be paid or incurred by or on behalf of Mortgagee for
reasonable attorneys’ costs and fees (including the costs and fees of paralegals), survey charges, appraiser’s fees, inspecting engineer’s and/or architect’s fees, fees for environmental studies and assessments and all additional
expenses incurred by Mortgagee with respect to environmental matters, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the
decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to title as Mortgagee may deem reasonably necessary either to prosecute such suit or to
evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to, the value of or the environmental condition of the Property. All expenditures and expenses of the nature in this Subsection mentioned, and
such reasonable expenses and fees as may be incurred in the protection of the Property and maintenance of the lien of this Mortgage, including the reasonable fees of any attorney (including the costs and fees of paralegals) employed by Mortgagee in
any litigation or proceeding affecting this Mortgage, the Note or the Property, including probate and bankruptcy proceedings, or in preparation for the commencement or defense of any proceeding or threatened suit or proceeding, shall be immediately
due and payable by Mortgagor, with interest thereon at the Default Rate and shall be secured by this Mortgage. 

  
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 (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. 

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. 
 (c) 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; 
 (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. 

  
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 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. 
 (d) 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 after reasonable prior notice to Mortgagor 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 prior notice before entering the Property. Mortgagee shall make reasonable efforts to avoid interfering with Mortgagor’s or Manager’s use of the Property in exercising any rights provided in this Section 5.12.

 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 Land and all Books and Records will be located at Mortgagor’s or
Manager’s place of business or chief executive office if Mortgagor or Manager has more than one place of business. 

  
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	6.	Accelerating Transfers, Default and Remedies. 

 6.1 Accelerating Transfers. 
 (a)
“Accelerating Transfer” means any Transfer not expressly permitted under Article 12 of the Loan Agreement. 
 (b) Mortgagor acknowledges that Mortgagee is making one or more advances under the Loan Agreement in reliance on the expertise, skill and experience of Mortgagor; thus, the Secured Obligations include
material elements similar in nature to a personal service contract. In consideration of Mortgagee’s reliance, Mortgagor agrees that Mortgagor shall not make any Accelerating Transfer, unless the transfer is preceded by Mortgagee’s express
written consent to the particular transaction and transferee. Mortgagee may withhold such consent in its sole discretion. If any Accelerating Transfer occurs, Mortgagee in its sole discretion may declare all of the Secured Obligations to be
immediately due and payable, and Mortgagee may invoke any rights and remedies provided by Section 6.3 of this Mortgage. 
 6.2 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 Mortgagor (i) (x) to
pay any of the principal or interest of the Loan within ten (10) days after the date when due or (y) 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 ten (10) 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 (x) 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, and (y) the existence of such uncured
default will not result in any tenant under a Lease having a right to terminate such Lease due to such uncured default; and provided further that if a different notice or grace period is specified under Article 14 of the Loan Agreement (or
elsewhere in this Mortgage or the Loan Agreement) in which such particular breach will become an Event of Default, the specific provision shall control; or 

  
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 (b) An “Event of Default” occurs under the Loan
Agreement or any other Loan Document. 
 6.3 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. 

(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 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 Land and make all of it available to Mortgagee at the site of the Land. 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 any construction of the improvements at the Property required by the Loan 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 Loan 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 6.3(d) either with or without giving notice to any
person. Any amounts expended by Mortgagee under this Subsection 6.3(d) shall be secured by this Mortgage. 

  
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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, in one or several concurrent or consecutive proceedings, to foreclose the lien hereof upon the Property or any part thereof, for the
Secured Obligations, or any part thereof, 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 6.3(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. 

  
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 (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 Land 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 other 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 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. 
 6.4 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 

  
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 (b) Second, all other Secured Obligations in any order and
proportions as Mortgagee in its sole discretion may choose. 
 6.5 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; 
 (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 by law. 

6.6 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 6.3 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 by law. 
 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. 

  
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 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 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 6.3(c). 
 (ii) Mortgagee collects and
applies Rents as permitted under Sections 2.3 and 6.6 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 6.3(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. 

  
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 (b) Mortgagee may take any of the actions in accordance with
the terms of and permitted under Subsections 6.3(b) and/or 6.3(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 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. However, this Section 7.7 does not waive the provisions of Section 6.1 above. 

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. 

  
 Page 17

 (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 marshaled 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: 
  

					
	 If to Mortgagor:

		  	 CHT Marion OH Senior Living, LLC

c/o CNL Healthcare Trust, Inc.
 450 South Orange Avenue
 Orlando, Florida 32801

	  	 Attention:
	  	 Joseph T. Johnson, Senior Vice President and Chief Officer

	  	 Attention:
	  	 Holly Greer, Esq., Senior Vice President and General Counsel

  
 Page 18

  

					
		  	 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

		
	 If to Mortgagee:
	  	
		  	 KeyBank National Association, Healthcare Services

Mailcode: OH-01-51-0311
 4910 Tiedeman Road, 3rd Floor
 Brooklyn, Ohio 44144

	  	 Attention:
	  	 Amy L. MacLearie
 KeyBank Real Estate Capital

	  	 Telephone:
	  	 (216) 813-6935

	  	 Facsimile:
	  	 (216) 357-6383

		
	 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. 
 Any notice or demand delivered to
the person or entity named above to accept notices and demands for Mortgagor shall constitute notice or demand duly delivered to Mortgagor, even if delivery is refused. 

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 SEVENTY-ONE MILLION FOUR HUNDRED THOUSAND and NO/100 DOLLARS ($71,400,000.00), plus interest thereon, and any disbursements made for the enforcement of this Mortgage and any remedies
hereunder, it being the intention of the parties that this Mortgage be entitled to the benefits of Ohio Revised Code Section 5301.232(B), plus payment of taxes, special assessments, utilities or insurance on the Property pursuant to Ohio
Revised Code Section 5301.233, 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. 

  
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 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 NOTE, 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. 

7.16 Inconsistencies. In the event of any inconsistency between this Mortgage and the Loan 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 Loan Agreement shall be controlling. 

7.17 Commercial Loan. The Loan secured by this Mortgage is a “business loan”. 

7.18 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. 

  
 Page 20

 7.19 Controlling Agreement. The parties hereto intend to conform
strictly to the applicable usury laws. All agreements between Mortgagor (and any other party liable for any part of the Secured Obligations) and Mortgagee, whether now existing or hereafter arising and whether written or oral, are expressly limited
so that in no event whatsoever, whether by reason of acceleration of the maturity of the Secured Obligations or otherwise, shall the interest contracted for, charged or received by Mortgagee hereunder or otherwise exceed the maximum amount
permissible under applicable law. If from any circumstances whatsoever interest would otherwise be payable to Mortgagee in excess of the maximum lawful amount, the interest payable to Mortgagee shall be reduced automatically to the maximum amount
permitted under applicable law. If Mortgagee shall ever receive anything of value deemed interest under applicable law which would apart from this provision be in excess of the maximum lawful amount, the amount which would have been excessive
interest shall be applied to the reduction of the principal amount owing on the Secured Obligations in inverse order of maturity and not to the payment of interest, or if such amount which would have been excessive interest exceeds the unpaid
principal balance of the Secured Obligations, such excess shall be refunded to Mortgagor, or to the maker of the Note or other evidence of indebtedness if other than Mortgagor. All interest paid or agreed to be paid to Mortgagee shall, to the extent
permitted by applicable law, be amortized, prorated, allocated and spread throughout the full stated term, including any renewal or extension, of such indebtedness so that the amount of interest on account of such indebtedness does not exceed the
maximum permitted by applicable law. The terms and provisions of this section shall control and supersede every other provision of all existing and future agreements between Mortgagor, the maker of the Note or other evidence of indebtedness if other
than Mortgagor, and Mortgagee. 
 THIS MORTGAGE, THE LOAN AGREEMENT, AND THE OTHER LOAN DOCUMENTS EMBODY THE
FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR
VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO. The provisions hereof and the other Loan Documents may be amended or waived only
by an instrument in writing signed by the Mortgagor and Mortgagee. 

  
 Page 21

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

			
	MORTGAGOR:
	
	 CHT MARION OH SENIOR LIVING, LLC,

a Delaware limited liability company (f/k/a CPT Marion OH Senior Living, LLC)

		
	 By:
	 	 /s/ Kevin Maddron

	 Name:
	 	 Kevin Maddron

	 Title:
	 	 Senior 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 Kevin Maddron, whose name as Senior Vice President of CHT MARION OH SENIOR LIVING, LLC, a Delaware limited liability company (f/k/a CPT Marion OH Senior Living, LLC), 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 Senior 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 14th day of February, 2012. 
  

			
	 Cathleen A. Coffey

	Notary Public

 
			
		
	 My Commission Expires:
	 	  

  
 Page 22

 The exhibits to this open-end mortgage assignment of rents, security
agreement and fixture filing are omitted as not necessary to an understanding of this agreement. 

  
 Page 23

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