Document:

Exhibit
10.2

 

MASTER
LEASE

 

THIS
MASTER LEASE (this “Lease”) is entered into this August 16, 2019, by and between CTR PARTNERSHIP, L.P., a Delaware
limited partnership (“Landlord”), and that/those entity(ies) identified as Tenant on the signature pages attached
hereto (collectively, “Tenant”).

 

RECITALS

 

A.
Landlord desires to lease the Premises to Tenant, and Tenant desires to lease the Premises from Landlord upon the terms set forth
in this Lease.

 

B.
Pursuant to that certain Guaranty of Master Lease dated of even date herewith (as amended, supplemented or otherwise modified from
time to time, the “Guaranty”), Trillium Healthcare Group, LLC, a Florida limited liability company (“Guarantor”)
has agreed to guaranty the obligations of each of the entities comprising Tenant under this Lease,unless a Security Deposit is posted
as provided herein.

 

C.
A list of the Facilities covered by this Lease is attached hereto as Schedule 1.

 

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

 

ARTICLE
I

MASTER
LEASE; DEFINITIONS; PREMISES; TERM

 

1.1
Recognition of Master Lease; Irrevocable Waiver of Certain Rights. Tenant and Landlord each acknowledges and agrees that this
Lease constitutes a single, indivisible lease of the entire Premises, and the Premises constitutes a single economic unit. The Base Rent,
Additional Rent, other amounts payable hereunder and all other provisions contained herein have been negotiated and agreed upon based
on the intent to lease the entirety of the Premises as a single and inseparable transaction, and such Base Rent, Additional Rent, other
amounts and other provisions would have been materially different had the parties intended to enter into separate leases or a divisible
lease. Any Event of Default under this Lease shall constitute an Event of Default as to the entire Premises. Each of the entities comprising
Tenant and Guarantor, in order to induce Landlord to enter into this Lease, to the extent permitted by law:

 

(a)
Agrees, acknowledges and is forever estopped from asserting to the contrary that the statements set forth in the first sentence of this
Section are true, correct and complete;

 

(b)
Agrees, acknowledges and is forever estopped from asserting to the contrary that this Lease is a new and de novo lease, separate and
distinct from any other lease between any of the entities comprising Tenant and any of the entities comprising Landlord that may have
existed prior to the date hereof;

 

(c)
Agrees, acknowledges and is forever estopped from asserting to the contrary that this Lease is a single lease pursuant to which the collective
Premises are demised as a whole to Tenant;

 

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(d)
Agrees, acknowledges and is forever estopped from asserting to the contrary that if, notwithstanding the provisions of this Section,
this Lease were to be determined or found to be in any proceeding, action or arbitration under state or federal bankruptcy, insolvency,
debtor-relief or other applicable laws to constitute multiple leases demising multiple properties, such multiple leases could not, by
the debtor, trustee, or any other party, be selectively or individually assumed, rejected or assigned; and

 

(e)
Forever knowingly waives and relinquishes any and all rights under or benefits of the provisions of the Federal Bankruptcy Code Section
365 (11 U.S.C. § 365), or any successor or replacement thereof or any analogous state law, to selectively or individually assume,
reject or assign the multiple leases comprising this Lease following a determination or finding in the nature of that described in the
foregoing Section 1.1(d).

 

1.2
Definitions. Certain initially-capitalized terms used in this Lease are defined in Exhibit A. All accounting terms
not otherwise defined in this Lease have the meanings assigned to them in accordance with GAAP.

 

1.3
Lease of Premises; Ownership. Upon the terms and subject to the conditions set forth in this Lease, Landlord hereby leases
to Tenant and Tenant leases from Landlord all of Landlord’s rights and interest in and to the Premises. Tenant acknowledges that
the Premises are the property of Landlord and that Tenant has only the right to the possession and use of the Premises upon and subject
to the terms and conditions of this Lease. Tenant will not, at any time during the Term, take any position, whether in any tax return,
public filing, contractual arrangement, financial statement or otherwise, other than that Landlord is the owner of the Premises for federal,
state and local income tax purposes and that this Lease is a “true lease”.

 

1.4
Term. The initial term of this Lease (the “Initial Term”) shall be deemed to have commenced as of July
1, 2019 (the “Commencement Date”) and expiring at 11:59 p.m. on November 30, 2030 (the “Initial Expiration
Date”). The term of this Lease may be extended for two (2) separate terms of five (5) years each (each, an “Extension
Term”) if: (a) at least twelve (12), but not more than eighteen (18) months prior to the end of the then current Term, Tenant
delivers to Landlord a written notice (an “Extension Notice”) that it desires to exercise its right to extend the
Term for one (1) Extension Term; and (b) no Event of Default shall have occurred and be continuing on the date Landlord receives the
Extension Notice or on the last day of the then current Term. During any such Extension Term, except as otherwise specifically provided
for herein, all of the terms and conditions of this Lease shall remain in full force and effect. Once delivered to Landlord, an Extension
Notice shall be irrevocable; provided, however, that, Tenant shall have ten (10) Business Days following Landlord’s notice to Tenant
of the final determination of the Base Rent for the first Lease Year of the applicable Extension Term to elect to withdraw the applicable
Extension Notice, which election must be in writing and once made, shall be irrevocable. Notwithstanding the foregoing, Tenant shall
have no right to withdraw an Extension Notice if the Base Rent for the first Lease Year of the applicable Extension Term was calculated
based on the Base Rent payable during the immediately preceding Lease Year rather than on the Fair Market Rental for the Premises as
determined pursuant to Exhibit E.

 

1.5
Net Lease. This Lease is intended to be and shall be construed as an absolutely net lease, commonly referred to as a “net,
net, net” or “triple net” lease, pursuant to which Landlord shall not, under any circumstances or conditions, whether
presently existing or hereafter arising, and whether foreseen or unforeseen by the parties, be required to make any payment or expenditure
of any kind whatsoever or be under any other obligation or liability whatsoever, except as expressly set forth herein, in connection
with the Premises. All Rent payments shall be absolutely net to Landlord, free of all Impositions, utility charges, operating expenses,
insurance premiums or any other charges or expenses in connection with the Premises, all of which shall be paid by Tenant.

 

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ARTICLE
II

RENT

 

2.1
Base Rent.

 

2.1.1
During the Term, Tenant will pay to Landlord as base rent hereunder (the “Base Rent”): (i) for the month of July,
2019, Base Rent shall equal zero dollars ($0), (ii) commencing on August 1, 2019, Base Rent shall increase to an annual amount equal
to Three Million Six Hundred Thousand Dollars ($3,600,000.00), and (iii) commencing on August 1, 2020, the Base Rent shall increase to
an annual amount equal to Four Million Eight Hundred Thousand Dollars ($4,800,000.00). The Base Rent shall be payable in advance in twelve
(12) equal monthly installments on or before the first (1st) Business Day of each calendar month; provided, however, the Base
Rent attributable to the first (1st) full calendar month of the Term and the calendar month in which the Commencement Date
occurs, which may be a partial month, shall be payable on the Commencement Date. Commencing on July 1, 2021, and on the first day of
each Lease Year thereafter during the Term (including, without limitation, any Extension Term), the Base Rent shall increase to an annual
amount equal to the sum of (a) the Base Rent for the immediately preceding Lease Year, and (b) the Base Rent for the immediately preceding
Lease Year multiplied by the greater of (i) the Adjusted CPI Increase or (ii) one and one-half percent (1.5%).

 

2.1.2
Notwithstanding anything in Section 2.1.1 to the contrary, the Base Rent for the first Lease Year of each Extension Term shall be
reset and expressed as an annual amount equal to the lesser of: (a) the Fair Market Rental of the Premises, and (b) the sum of (i) the
annual Base Rent payable during the immediately preceding Lease Year, and (ii) the annual Base Rent for the immediately preceding Lease
Year multiplied by twenty percent (20%). Notwithstanding the foregoing, on the first day of the second (2nd) Lease Year of
any Extension Term and the first day of each Lease Year thereafter during such Extension Term, the Base Rent shall increase to an annual
amount equal to the sum of (A) the Base Rent for the immediately preceding Lease Year, and (B) the Base Rent for the immediately preceding
Lease Year multiplied by the greater of (1) the Adjusted CPI Increase or (2) one and one-half percent (1.5%).

 

2.1.3 Pursuant
to the Facilities Transition Agreement, and subject to the terms and conditions set forth therein, Landlord has agreed to permit
Tenant to defer the payment of (i) unpaid base rent that would otherwise be payable under the Prior Lease for the month of June 2019
in the amount of $789,913.00, and (ii) real property taxes for those facilities subject to the Prior Lease and located in the State
of Ohio (the “Ohio Facilities”) for the period from January 1, 2019 to the “Transition Date” (as
defined in the Facilities Transition Agreement) in the amount of $419,522.22 (collectively, the “Deferred Rent”).
Commencing with the Payment Date on January 2, 2020 and continuing on for each of the thirty- five (35) consecutive Payment Dates
thereafter (the period from the January 2, 2020 Payment Date to the last such Payment Date being hereinafter referred to as the
“Deferral Repayment Period”), together with each payment of Base Rent, Tenant will pay to Landlord a monthly
payment of the Deferred Rent in the amount of $33,595.43. Landlord and Tenant acknowledge and agree that the amount of Deferred Rent
set forth in clause (ii) above is based on a Transition Date for the Ohio Facilities of September 1, 2019. If the Transition Date
for any of the Ohio Facilities is later than September 1, 2019, then the amount of Deferred Rent set forth in clause (ii) shall be
adjusted to reflect the actual Transition Date for the Ohio Facilities with Tenant being responsible for real property taxes for
each Ohio Facility through the Transition Date applicable to each such Ohio Facility. Upon any such adjustment to the amount of
Deferred Rent, the monthly payment of Deferred Rent set forth in this Section 2.13 shall also be correspondingly adjusted as
necessary to cause the aggregate amount of Deferred Rent (as so adjusted) to be fully repaid through equal monthly installments
ending on the expiration of the Deferral Repayment Period.

 

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2.2
Additional Rent. In addition to the Base Rent, Tenant shall also pay and discharge as and when due and payable all other amounts,
liabilities and obligations which Tenant assumes or agrees to pay under this Lease. In the event of any failure on the part of Tenant
to pay any of those items referred to in the previous sentence, Tenant will also promptly pay and discharge every fine, penalty, interest
and cost which may be added for non-payment or late payment of the same. Collectively, the items referred to in the first two sentences
of this Section 2.2 are referred to as “Additional Rent.” Except as may otherwise be set forth herein, any costs or
expenses paid or incurred by Landlord on behalf of Tenant that constitute Additional Rent shall be reimbursed by Tenant to Landlord within
ten (10) days after the presentation by Landlord to Tenant of invoices therefor.

 

2.3
Method of Payment. All Rent payable hereunder shall be paid in lawful money of the United States of America. Except as may
otherwise be specifically set forth herein, Rent shall be prorated as to any partial months at the beginning and end of the Term. Rent
to be paid to Landlord shall be paid by electronic funds transfer debit transactions through wire transfer of immediately available funds
and shall be initiated by Tenant for settlement on or before the Payment Date; provided, however, if the Payment Date is
not a Business Day, then settlement shall be made on the next succeeding day which is a Business Day. If Landlord directs Tenant to pay
any Base Rent to any party other than Landlord, Tenant shall send to Landlord, simultaneously with such payment, a copy of the transmittal
letter or invoice and a check whereby such payment is made or such other evidence of payment as Landlord may reasonably require.

 

2.4
Late Payment of Rent. Tenant hereby acknowledges that the late payment of Rent will cause Landlord to incur costs not contemplated
hereunder, the exact amount of which is presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment
of Rent other than Additional Rent payable to a Person other than Landlord (or a Facility Mortgagee) shall not be paid within five (5)
days of its Payment Date, Tenant shall pay to Landlord, on demand, a late charge equal to the lesser of (a) five percent (5%) of the
amount of such installment or (b) the maximum amount permitted by law. The parties agree that this late charge represents a fair and
reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late
charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and
Tenant. In addition, if any installment of Rent other than Additional Rent payable to a Person other than Landlord (or a Facility Mortgagee)
shall not be paid within ten (10) days after its Payment Date, the amount unpaid, including any late charges, shall bear interest at
the Agreed Rate compounded monthly from such Payment Date to the date of payment thereof, and Tenant shall pay such interest to Landlord
on demand. The payment of such late charge or such interest shall neither constitute waiver of nor excuse or cure any default under this
Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord.

 

2.5
Guaranty. Tenant’s obligations under this Lease are guaranteed by the Guarantor pursuant to the Guaranty, unless a Security
Deposit is posted pursuant to Section 3.1 of the Lease.

 

ARTICLE
III

SECURITY
DEPOSIT; LETTER OF CREDIT

 

3.1
Security Deposit. Tenant shall pay to Landlord the amount of Nine Hundred Thousand Dollars ($900,000) as security (the “Security
Deposit”) for the full and faithful performance by Tenant of each and every term, provision, covenant and condition of this
Lease. As more fully set forth in the Guaranty, and subject to the terms and conditions set forth therein, Guarantor’s obligations
under the Guaranty shall terminate with respect to any liabilities arising from and after the Security Deposit Date (as defined below)
upon the date on which Tenant deposits with Landlord the full and unapplied Security Deposit (the “Security Deposit Date”).

 

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3.1.1
The Security Deposit shall not be deemed an advance payment of Rent or a measure of Landlord’s damages for any default under
this Lease by Tenant, nor shall it be a bar or defense to any action that Landlord may at any time commence against Tenant. The Security
Deposit shall be the property of Landlord and it may commingle the Security Deposit with other assets of Landlord, and Tenant shall not
be entitled to any interest on the Security Deposit.

 

3.1.2
Upon the occurrence of any Event of Default, Landlord, at its option and in such order as Landlord in its sole discretion may determine,
may apply the Security Deposit to any (a) obligation of Tenant under this Lease, or (b) Losses that Landlord may incur in connection
with, or related to, this Lease, or any Event of Default under this Lease, whether such obligation or Loss accrues before or after the
Event of Default.

 

3.1.3
If Landlord sells or transfers the Premises or Landlord ceases to have an interest in the Premises, Landlord may remit any unapplied
part of the Security Deposit (or transfer the Letter of Credit if the LC Election has been made) to the successor owner of the Premises,
and from and after such payment or transfer, Landlord shall be relieved of all liability with respect thereto. In the case of any partial
transfer or cessation, Landlord may transfer such portion of the Security Deposit as Landlord allocates to such part of the Premises,
in its reasonable discretion.

 

3.1.4 In
the event Landlord applies all or any portion of the Security Deposit in connection with an Event of Default, Tenant shall (within
ten (10) days following delivery of written notice by Landlord) deposit such funds with Landlord as to restore the Security Deposit
to the amount of $900,000 as provided in Section 3.1 above. For the avoidance of doubt, if Tenant’s replenishment obligation
set forth in this Section 3.1.4 is triggered as of a date that is subsequent to the effective date of the termination of the
Guaranty pursuant to Section 3.1 above, then said replenishment obligation shall not be a guaranteed obligation of Guarantor under
the Guaranty (which Guaranty, at such time, would have been terminated); provided, however, that nothing herein shall, or shall be
deemed to have, modified, canceled, terminated, or otherwise changed Tenant’s obligation to replenish the Security Deposit as
provided for in this Section 3.1.4.

 

3.1.5
If no Event of Default has occurred and is continuing under this Lease and Tenant has fully performed and satisfied all of its obligations
under this Lease, then Landlord shall pay the Security Deposit, or remaining unapplied portion thereof, to Tenant within sixty (60) days
after the expiration or earlier termination of this Lease and the surrender of the Premises to Landlord in accordance with the terms
of this Lease.

 

3.2
Letter of Credit. In lieu of depositing the Security Deposit with Landlord as and when required pursuant to Section 3.1, and
upon prior written notice to Landlord, Tenant may elect (such election, the “LC Election”) to deposit with Landlord
and maintain during the Term and for sixty (60) days after the Expiration Date, a Letter of Credit in an undrawn face amount equal to
three (3) monthly payments of Base Rent in the first year of the lease (the “LC Amount”) as partial collateral for
Tenant’s obligations under this Lease. During any period in which the LC Election has been made, the following provisions shall
apply:

 

3.2.1
Upon the occurrence of an Event of Default, Landlord may, but shall not be required to, draw upon the Letter of Credit (in whole
or in part) and apply the cash proceeds thereof to the obligations due from Tenant under this Lease and to compensate Landlord for the
damages suffered or incurred by it in connection with such Event of Default (or any other Event of Default). Any amount drawn by Landlord
shall not be deemed: (a) to fix or determine the amounts to which Landlord is entitled to recover under this Lease or otherwise; (b)
to waive or cure any default under this Lease; or (c) to limit or waive Landlord’s right to pursue any remedies provided for in
this Lease.

 

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3.2.2
Tenant covenants as follows: (a) on or before thirty (30) days prior to the expiration date of the then issued and outstanding Letter
of Credit, Tenant shall deposit with Landlord a replacement Letter of Credit in the LC Amount; (b) if all or any portion of the Letter
of Credit is drawn against by Landlord, Tenant shall, within five (5) Business Days after demand by Landlord, deposit with Landlord a
replacement or supplementary Letter of Credit such that at all times during the term of this Lease and for sixty (60) days after the
Expiration Date, Landlord shall have the ability to draw on one or more Letters of Credit totaling, in the aggregate, the LC Amount;
and (c) following an Issuer Revocation, Tenant shall obtain a replacement Letter of Credit in the LC Amount from another Issuer within
fifteen (15) days of Landlord’s written demand therefor. If Tenant fails to timely perform any of the foregoing, then in addition
to any other rights and remedies available under this Lease, Landlord may immediately draw upon the full amount of the then issued and
outstanding Letter of Credit.

 

3.2.3
Upon the issuance of a replacement Letter of Credit, Landlord shall have the right to draw solely on such replacement Letter of Credit
and Landlord shall have no right to draw against the Letter of Credit which is replaced by such replacement Letter of Credit.

 

3.2.4
Tenant shall have the right to deposit with Landlord one or more Letters of Credit to satisfy the requirements of this Section 3.2,
so long as the aggregate undrawn face amount of all issued and outstanding Letters of Credit equal the LC Amount.

 

3.2.5
Within five (5) Business Days after receipt of any written demand by Landlord, Tenant shall produce to Landlord (a) evidence satisfactory
to Landlord, in the exercise of its commercially reasonable judgment, that Issuer is then in compliance with the Issuer Standards, and

(b)
such other information concerning Issuer as Landlord may reasonably request.

 

3.2.6
If Landlord draws on a Letter of Credit, the cash proceeds thereof not used to compensate Landlord for amounts due to Landlord under
this Lease by reason of an Event of Default shall be held by Landlord as an additional security deposit under this Lease and Landlord
may, from time to time, without prejudice to any other right or remedy, apply such cash proceeds to the obligations due from Tenant under
this Lease and to compensate Landlord for the damages suffered or incurred by it in connection with such Event of Default (or any other
Event of Default). The holding of such cash proceeds by Landlord shall not limit or stay Tenant’s obligation hereunder to cause
to be issued a Letter of Credit in the LC Amount. Absent an Event of Default (except an Event a Default that would be fully cured by
the posting of a Letter of Credit in the LC Amount), upon Landlord’s receipt of a Letter of Credit in the LC Amount, any such cash
proceeds then held by Landlord shall be returned to Tenant. If requested by Tenant, Landlord shall make such cash proceeds available
to collateralize a replacement Letter of Credit or supplemental Letter of Credit pursuant to a written agreement with the applicable
Issuer, whereby Landlord shall agree to disburse such cash proceeds to the applicable Issuer upon such Issuer’s irrevocable and
unconditional commitment to issue the applicable replacement Letter of Credit or supplemental Letter of Credit upon its receipt of such
cash proceeds. Notwithstanding the foregoing, Landlord shall not be required to make such cash proceeds available if an Event of Default
then exists. If Tenant is not in default under this Lease as of the Expiration Date, any cash proceeds then held by Landlord shall be
returned to Tenant within sixty (60) days following the Expiration Date.

 

3.2.7
In the event that when the LC Election is made, Landlord is holding the Security Deposit pursuant to Section 3.1 above, then upon
Landlord’s receipt of: (i) written notice from Tenant making the LC Election, and (ii) a Letter of Credit in the LC Amount satisfying
the provisions of this Section 3.2, any such cash Security Deposit then held by Landlord shall be returned to Tenant.

 

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ARTICLE
IV

IMPOSITIONS
AND OTHER CHARGES

 

4.1
Impositions.

 

4.1.1
Subject to Section 4.5, Tenant shall pay all Impositions attributable to a tax period, or portion thereof, occurring during the Term
(irrespective of whether the Impositions for such tax period are due and payable after the Term), when due and before any fine, penalty,
premium, interest or other cost may be added for non-payment. Where feasible, such payments shall be made directly to the taxing authorities.
If any such Imposition may, at the option of the taxpayer, lawfully be paid in installments (whether or not interest shall accrue on
the unpaid balance of such Imposition), Tenant may exercise the option to pay same (and any accrued interest on the unpaid balance of
such Imposition) in installments (provided no such installments shall extend beyond the Term) and, in such event, shall pay such installments
during the Term before any fine, penalty, premium, further interest or cost may be added thereto. Tenant shall deliver to Landlord, not
less than five (5) days prior to the due date of each Imposition, copies of the invoice for such Imposition, the check delivered for
payment thereof and an original receipt evidencing such payment or other proof of payment satisfactory to Landlord.

 

4.1.2
Notwithstanding Section 4.1.1 to the contrary, Landlord may elect to pay those Impositions, if any, based on Landlord’s net
income, gross receipts, franchise taxes and taxes on its capital stock directly to the taxing authority and within ten (10) Business
Days of Landlord delivering to Tenant notice and evidence of such payment, Tenant shall reimburse Landlord for such paid Impositions.
In connection with such Impositions, Tenant shall, upon request of Landlord, promptly provide to Landlord such data as is maintained
by Tenant with respect to any Facility as may be necessary to prepare any returns and reports to be filed in connection therewith.

 

4.1.3
Tenant shall prepare and file all tax returns and reports as may be required by Legal Requirements with respect to or relating to
all Impositions (other than those Impositions, if any, based on Landlord’s net income, gross receipts, franchise taxes and taxes
on its capital stock).

 

4.1.4
Tenant may, upon notice to Landlord, at Tenant’s option and at Tenant’s sole cost and expense, protest, appeal or institute
such other proceedings as Tenant may deem appropriate to effect a reduction of real estate or personal property assessments and Landlord,
at Tenant’s expense, shall reasonably cooperate with Tenant in such protest, appeal or other action; provided, however, that upon
Landlord’s request in connection with any such protest or appeal, Tenant shall post an adequate bond or deposit sufficient sums
with Landlord to insure payment of any such real estate or personal property assessments during the pendency of any such protest or appeal.

 

4.1.5
Landlord or Landlord’s designee shall use reasonable efforts to give prompt notice to Tenant of all Impositions payable by
Tenant hereunder of which Landlord at any time has knowledge, provided, however, that any failure by Landlord to provide such notice
to Tenant shall in no way relieve Tenant of its obligation to timely pay the Impositions.

 

4.1.6
Impositions imposed or assessed in respect of the tax-fiscal period during which the Term terminates shall be adjusted and prorated
between Landlord and Tenant, whether or not such Imposition is imposed or assessed before or after such termination, and Tenant’s
obligation to pay its prorated share thereof shall survive such termination.

 

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4.2
Utilities; CC&Rs. Tenant shall pay any and all charges for electricity, power, gas, oil, water and other utilities used
in connection with each Facility during the Term. Tenant shall also pay all costs and expenses of any kind whatsoever which may be imposed
against Landlord during the Term by reason of any of the covenants, conditions and/or restrictions affecting any Facility or any portion
thereof, or with respect to easements, licenses or other rights over, across or with respect to any adjacent or other property which
benefits any Facility, including any and all costs and expenses associated with any utility, drainage and parking easements. If Landlord
is billed directly for any of the foregoing costs, Landlord shall send Tenant the bill and Tenant shall pay the same before it is due.

 

4.3
Insurance. Subject to Section 4.6, Tenant shall pay or cause to be paid all premiums for the insurance coverage required to
be maintained by Tenant hereunder.

 

4.4
Other Charges. Tenant shall pay all other amounts, liabilities, obligations, costs and expenses paid or incurred with respect
to the ownership, repair, replacement, restoration, maintenance and operation of each Facility.

 

4.5
Real Property Imposition Impounds.

 

4.5.1
If required under the terms of any Facility Mortgage Document or at Landlord’s option (to be exercised by thirty (30) days’
written notice to Tenant) following (i) the occurrence and during the continuation of an Event of Default, or (ii) following the occurrence
of more than one (1) Event of Default in any twelve (12) month period and for the remainder of the Term, Tenant shall include with each
payment of Base Rent a sum equal one-twelfth (1/12th) of 100% of the amount required to discharge the annual amount of Real
Property Impositions. Landlord may, at its option, from time to time require that any particular deposit be greater than one-twelfth
(1/12th) of 100% of the estimated annual Real Property Impositions if necessary to provide a sufficient fund from which to
make payment of such Real Property Impositions on or before the next due date of any installment thereof. Additionally, Landlord may
change its estimate of any Real Property Imposition for any period on the basis of a change in an assessment or tax rate or for any other
good faith reason. In such event, Tenant shall deposit with Landlord the amount in excess of the sums previously deposited with Landlord
for the applicable period within ten (10) days after Landlord’s request therefor. If at any time within thirty (30) days before
the due date of any Real Property Imposition, the deposits are insufficient for the payment in full of the obligation for which the deposits
are being held, Tenant shall remit the amount of the deficiency to Landlord within ten (10) days after written demand from Landlord.
If Landlord elects (to the extent permitted pursuant to this Section 4.5.1), to require Tenant to impound Real Property Impositions hereunder,
Tenant shall, as soon as they are received, deliver to Landlord copies of all notices, demands, claims, bills and receipts in relation
to the Real Property Impositions.

 

4.5.2
The sums deposited by Tenant under this Section 4.5 shall be held by Landlord, shall not bear interest nor be held by Landlord in
trust or as an agent of Tenant, and may be commingled with the other assets of Landlord. Provided no Event of Default then exists under
this Lease, and provided that Tenant has timely delivered to Landlord copies of any bills, claims or notices that Tenant has received,
the sums deposited by Tenant under this Section 4.5 shall be used by Landlord to pay Real Property Impositions as the same become due.
Upon the occurrence of any Event of Default, Landlord may apply any funds held by it under this Section 4.5 to cure such Event of Default
or on account of any damages suffered or incurred by Landlord in connection therewith or to any other obligations of Tenant arising under
this Lease, in such order as Landlord in its discretion may determine.

 

4.5.3
If Landlord transfers this Lease, it shall transfer all amounts then held by it under this Section 4.5 to the transferee, and Landlord
shall thereafter have no liability of any kind with respect thereto. As of the Expiration Date, any sums held by Landlord under this
Section 4.5 shall be returned to Tenant, only as and when the conditions of Section 3.1, or if the LC Election has been made, Section
3.2, for the return of the Security Deposit or, as applicable, Letter of Credit have been met and provided that any and all Real Property
Impositions due and owing hereunder have been paid in full.

 

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4.5.4
Notwithstanding anything herein which may be construed to the contrary, if Landlord elects (to the extent permitted pursuant to Section
4.5.1) to require Tenant to impound Real Property Impositions hereunder, Landlord shall have no liability to Tenant for failing to pay
any Real Property Impositions to the extent that: (a) any Event of Default has occurred and is continuing, (b) insufficient deposits
under this Section 4.5 are held by Landlord at the time such Real Property Impositions become due and payable, or (c) Tenant has failed
to provide Landlord with copies of the bills, notices, and claims for such Real Property Impositions as required pursuant to Section
4.5.1.

 

4.6 Insurance
Premium Impounds. If (a) required under the terms of any Facility Mortgage Document or (b) at Landlord’s option (to be
exercised by thirty (30) days’ written notice to Tenant) following (i) the occurrence and during the continuation of an Event
of Default, or (ii) following the occurrence of more than one (1) Event of Default in any twelve (12) month period and for the
remainder of the Term, Tenant shall be required to deposit, at the time of any payment of Base Rent, an amount equal to one-twelfth
(12th) of 100% of Tenant’s estimated annual insurance premiums, into an impound account as directed by Landlord;
provided, however, such deposits required pursuant to clause (b) shall be limited to estimated annual insurance premiums for
property insurance described in Sections 9.1.1 through 9.1.3, inclusive, below. As applicable, the terms of Section 4.5 shall govern
the amounts deposited under this Section 4.6.

 

ARTICLE
V

ACCEPTANCE
OF PREMISES; NO IMPAIRMENT

 

5.1
Acceptance of Premises. Tenant acknowledges receipt and delivery of possession of the Premises and confirms that Tenant has
examined and otherwise has knowledge of the condition of the Premises prior to the execution and delivery of this Lease and has found
the same to be in good order and repair, free from Hazardous Materials not in compliance with applicable Hazardous Materials Laws and
satisfactory for its purposes hereunder. Regardless, however, of, any prior knowledge, any examination or inspection made by Tenant and
whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Premises “as
is” in its present condition. Tenant waives any claim or action against Landlord in respect of the condition of the Premises including
any defects or adverse conditions not discovered or otherwise known by Tenant as of the Commencement Date. Tenant acknowledges and agrees
that (A) it and/or its Affiliates have operated the Premises prior to the Commencement Date, and (B) Tenant has knowledge of all aspects
of the Premises, Improvements thereon, and operation of the Facilities. TENANT FURTHER ACKNOWLEDGES AND AGREES THAT LANDLORD MAKES NO
WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE PREMISES, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR
ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR THE EXISTENCE OF
ANY HAZARDOUS MATERIALS, IT BEING AGREED THAT ALL SUCH RISKS, LATENT OR PATENT, ARE TO BE BORNE SOLELY BY TENANT.

 

5.2
No Impairment. The respective obligations of Landlord and Tenant shall not be affected or impaired by reason of (a) any damage
to, or destruction of, any Facility, from whatever cause, or any Condemnation of any Facility (except as otherwise expressly and specifically
provided in Article XI or Article XII); (b) the interruption or discontinuation of any service or utility servicing any Facility; (c)
the lawful or unlawful prohibition of, or restriction upon, Tenant’s use of any Facility due to the interference with such use
by any Person or eviction by paramount title; (d) any claim that Tenant has or might have against Landlord on account of any breach of
warranty or default by Landlord under this Lease or any other agreement by which Landlord is bound; (e) any bankruptcy, insolvency, reorganization,
composition, readjustment, liquidation, dissolution, winding up or other proceedings affecting Landlord or any assignee or transferee
of Landlord; (f) any Licensing Impairment; or (g) for any other cause whether similar or dissimilar to any of the foregoing. Tenant hereby
specifically waives all rights, arising from any occurrence whatsoever, which may now or hereafter be conferred upon it by law or equity
(x) to modify, surrender or terminate this Lease or quit or surrender any Facility, or (y) that would entitle Tenant to any abatement,
reduction, offset, suspension or deferment of Rent. The obligations of Landlord and Tenant hereunder shall be separate and independent
covenants and agreements and Rent shall continue to be payable in all events until the termination of this Lease, other than by reason
of an Event of Default. Tenant’s sole right to recover damages against Landlord under this Lease shall be to prove such damages
in a separate action

 

    	9

     

    

 

ARTICLE
VI

OPERATING
COVENANTS

 

6.1
Tenant Personal Property. Tenant shall obtain and install all items of furniture, fixtures, supplies and equipment not included
as Landlord Personal Property as shall be necessary or reasonably appropriate to operate each Facility in compliance with this Lease
(the “Tenant Personal Property”).

 

6.2
Landlord Personal Property. Tenant may, from time to time, in Tenant’s reasonable discretion, without notice to or approval
of Landlord, sell or dispose of any item of the Landlord Personal Property; provided, however, that, unless such item is functionally
obsolete, Tenant shall promptly replace such item with an item of similar or superior quality, use and functionality, and any such replacement
item shall, for all purposes of this Lease, continue to be treated as part of the “Landlord Personal Property.” Tenant shall,
promptly upon Landlord’s request from time to time, provide such information as Landlord may reasonably request relative to any
sales, dispositions or replacements of the Landlord Personal Property pursuant to this Section 6.2 and shall provide to Landlord with
an updated inventory of the Landlord Personal Property.

 

6.3
Primary Intended Use. During the entire Term, Tenant shall continually use each Facility for its Primary Intended Use (subject
to Articles XI and XII) and for no other use or purposes and shall operate each Facility in a manner consistent with a high quality healthcare
facility, employing sound reimbursement principles under all applicable Third Party Payor Programs.

 

6.4
Compliance with Legal Requirements and Authorizations.

 

6.4.1
Tenant, at its sole cost and expense, shall promptly (a) comply with all Legal Requirements and Insurance Requirements regarding
the use, condition and operation of each Facility and the Tenant Personal Property, and (b) procure, maintain and comply with all Authorizations.
The Authorizations for any Facility shall, to the maximum extent permitted by Legal Requirements, relate and apply exclusively to such
Facility, and Tenant acknowledges and agrees that, subject to all applicable Legal Requirements, the Authorizations are appurtenant to
the Facilities to which they apply, both during and following the termination or expiration of the Term.

 

6.4.2
Tenant and the Premises shall comply in all material respects with all licensing and other Legal Requirements applicable to the Premises
and the business conducted thereon and, to the extent applicable, all Third Party Payor Program requirements. Further, Tenant shall not
commit any act or omission that would in any way violate any certificate of occupancy affecting any Facility, result in closure of the
Facility, result in the termination or suspension of Tenant’s ability to operate any Facility for its Primary Intended Use or result
in the termination, suspension, non-renewal or other limitation of any Authorization, including, but not limited to, the authority to
admit residents to any Facility or right to receive reimbursement for items or services provided at any Facility from any Third Party
Payor Program.

 

    	10

     

    

 

6.4.3
Tenant shall not transfer any Authorizations to any location other than the Facility operated by such Tenant or as otherwise required
by the terms of this Lease nor pledge any Authorizations as collateral security for any loan or indebtedness except as required by the
terms of this Lease.

 

6.5
Preservation of Business. Tenant acknowledges that a fair return to Landlord on and protection of its investment in the Premises
is dependent, in part, on the concentration of similar businesses of Tenant and its Affiliates in the geographical area of each Facility.
Tenant further acknowledges that the diversion of staff, residents, or patient care activities from any Facility to other facilities
owned or operated by Tenant, Guarantor, or any of their respective Affiliates will have a material adverse effect on the value and utility
of such Facility. Therefore, Tenant agrees that during the Term and for a period of one (1) year thereafter, none of Tenant, Guarantor,
nor any of their respective Affiliates shall, without the prior written consent of Landlord (which may be granted or withheld in Landlord’s
sole and absolute discretion): (a) operate, own, develop, lease, manage, control, invest in, participate in or otherwise receive revenues
from a Competing Facility, (b) permit his, her or its name to be used by, or in connection with, any Competing Facility, (c) except as
is necessary to provide residents or patients with an alternative level of care, recommend or solicit the removal or transfer of any
resident or patient from any Facility to any other nursing, health care, senior housing, or retirement housing facility or divert actual
or potential residents, patients or care activities of any Facility to any other facilities owned or operated by Tenant, Guarantor, or
any of their respective Affiliates or from which they receive any type of referral fees or other compensation for transfers, or (d) employ
for any other businesses any management or supervisory personnel working on or in connection with any Facility or the operations thereof.
The obligations of Tenant and Guarantor under this Section 6.5 shall survive the expiration or earlier termination of this Lease.

 

6.6
Maintenance of Books and Records. Tenant shall keep and maintain, or cause to be kept and maintained, proper and accurate
books and records in accordance with GAAP, and a standard modern system of accounting, in all material respects reflecting the financial
affairs of Tenant and the results from operations of each Facility, individually and collectively. Landlord shall have the right, from
time to time during normal business hours after three (3) Business Days prior oral or written notice to Tenant, itself or through any
of Landlord’s Representatives, to examine and audit such books and records at the office of Tenant or other Person maintaining
such books and records and to make such copies or extracts thereof as Landlord or Landlord’s Representatives shall request and
Tenant hereby agrees to reasonably cooperate with any such examination or audit at Tenant’s cost and expense.

 

6.7
Financial, Management and Regulatory Reports. Tenant shall provide Landlord with the reports listed in Exhibit D within
the applicable time specified therein. All financial information provided shall be prepared in accordance with GAAP and shall be submitted
electronically using the applicable template provided by Landlord from time to time or, if no such template is provided by Landlord,
in the form of unrestricted, unlocked “.xls” spreadsheets created using Microsoft Excel (2003 or newer editions) or in such
other form as Landlord may reasonably require from time to time. If Tenant or any Guarantor becomes subject to any reporting requirements
of the Securities and Exchange Commission during the Term, it shall concurrently deliver to Landlord such reports as are delivered pursuant
to applicable securities laws. In addition to, and without limiting any other remedies which Landlord may have under this Lease, at law,
or in equity, Tenant shall be assessed with a $500 administrative fee for each instance in which Tenant fails to provide Landlord with
the reports listed in Exhibit D within the applicable time specified therein, which administrative fee shall be immediately due
and payable to Landlord; provided, however, that with respect to the first failure by Tenant to provide such reports when due in any
twelve (12) month period, Landlord shall provide Tenant written notice specifying that the report was not provided when due, Tenant shall
have three (3) Business Days after receipt of such notice to provide Landlord with such report, and Landlord may assess Tenant with the
$500 administrative fee only if Tenant has not provided such report to Landlord upon the expiration of such three (3) Business Day period.

 

    	11

     

    

 

6.7.1
In addition to the reports required under Section 6.7 above, upon Landlord’s request from time to time, Tenant shall provide
Landlord with such reasonable additional information and unaudited quarterly financial information concerning each Facility, the operations
thereof and Tenant and Guarantor as Landlord may require for purposes of securing financing for the Premises or its ongoing filings with
the Securities and Exchange Commission, under both the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as
amended, including, but not limited to, 10-Q Quarterly Reports, 10-K Annual Reports and registration statements to be filed by Landlord
during the Term. Unless otherwise agreed between the parties, any such request for additional information will not include facility level
proformas.

 

6.7.2
Tenant specifically agrees that Landlord may include financial information and such information concerning the operation of any Facility
which does not violate the confidentiality of the facility-patient relationship and the physician-patient privilege under applicable
laws, in offering memoranda or prospectuses, or similar publications in connection with syndications, private placements or public offerings
of Landlord’s securities or interests, and any other reporting requirements under applicable federal or state laws, including those
of any successor to Landlord.

 

6.8
Estoppel Certificates. Tenant shall, at any time upon not less than five (5) days prior written request by Landlord, have
an authorized representative execute, acknowledge and deliver to Landlord or its designee a written statement certifying (a) that this
Lease, together with any specified modifications, is in full force and effect, (b) the dates to which Rent and additional charges have
been paid, (c) that no default by either party exists or specifying any such default and (d) as to such other matters as Landlord may
reasonably request.

 

6.9
Furnish Information. Tenant shall promptly notify Landlord of any condition or event that constitutes a breach of any term,
condition, warranty, representation, or provision of this Lease and of any adverse change in the financial condition of any Tenant or
Guarantor and of any Event of Default.

 

6.10
Affiliate Transactions. No Tenant shall enter into, or be a party to, any transaction with an Affiliate of any Tenant or any
of the partners, members or shareholders of any Tenant except in the Ordinary Course of Business and on terms that are fully disclosed
to Landlord in advance and are no less favorable to any Tenant or such Affiliate than would be obtained in a comparable arm’s-length
transaction with an unrelated third party.

 

6.11
Waste. No Tenant shall commit or suffer to be committed any waste on any of the Premises, nor shall any Tenant cause or permit
any nuisance thereon.

 

6.12
Additional Covenants. Tenant shall satisfy and comply with the following performance covenants throughout the Term:

 

6.12.1
Tenant shall maintain a Portfolio Coverage Ratio equal to or greater than the Minimum Rent Coverage Ratio.

 

6.12.2
Tenant shall maintain for each fiscal quarter an occupancy rate of at least 82.5% in the aggregate across all of the Facilities.

 

6.12.3
Subject to Section 20.2, Tenant shall not, directly or indirectly, create, incur, assume, guarantee or otherwise become or remain
directly or indirectly liable with respect to (i) any Debt except for Permitted Debt; or (ii) any Contingent Obligations except for Permitted
Contingent Obligations. Tenant shall not default on the payment of any Permitted Debt or Permitted Contingent Obligations.

 

    	12

     

    

 

6.12.4
Tenant shall not, directly or indirectly, (i) acquire or enter into any agreement to acquire any assets other than in the Ordinary
Course of Business, or (ii) engage or enter into any agreement to engage in any joint venture or partnership with any other Person.

 

6.12.5
Tenant shall not cancel or otherwise forgive or release any material claim or material debt owed to any Tenant by any Person, except
for adequate consideration and in the Ordinary Course of Business. If any proceedings are filed seeking to enjoin or otherwise prevent
or declare invalid or unlawful Tenant’s occupancy, maintenance, or operation of a Facility or any portion thereof for its Primary
Intended Use, Tenant shall cause such proceedings to be vigorously contested in good faith, and shall, without limiting the generality
of the foregoing, use all reasonable commercial efforts to bring about a favorable and speedy disposition of all such proceedings and
any other proceedings.

 

6.12.6 After
the occurrence of an Event of Default and until such Event of Default is cured, no Tenant shall make any payments or distributions
(including salaries, bonuses, fees, principal, interest, dividends, liquidating distributions, management fees, cash flow
distributions or lease payments) to any Guarantor or any Affiliate of any Tenant or any Guarantor, or any shareholder, member,
partner or other equity interest holder of any Tenant, any Guarantor or any Affiliate of any Tenant or any Guarantor.
Notwithstanding the previous sentence, payments may be made (a) pursuant to a service contract, provided (i) the services to be
provided pursuant to such contract are required in order to ensure continuity of service and care at the applicable Facility in
compliance with all applicable Authorizations and Required Authorizations and (ii) such contract was previously approved, in
writing, by Landlord, and (b) pursuant to a management agreement to the extent permitted in a subordination of management agreement
in the form attached hereto as Exhibit G previously entered into by Landlord and such payee manager.

 

6.12.7
Tenant hereby represents and warrants to Landlord that as of the date of this Lease, Tenant has immediately available working capital
in an amount reasonably sufficient to satisfy all Legal Requirements and apply for and obtain the Required Authorizations. Tenant hereby
covenants and agrees that as of the Commencement Date, Tenant shall have immediately available working capital in an amount reasonably
sufficient to fund the day-to-day operations of the Facilities and sufficient to satisfy all Legal Requirements and maintain all Authorizations
at the Facilities. Tenant shall, within five (5) days of written request of Landlord, provide evidence reasonably acceptable to Landlord
demonstrating Tenant’s compliance with the representations, warranties, and covenants set forth in this Section.

 

6.13
No Liens. Subject to the provisions of Article VIII relating to permitted contests and excluding the applicable Permitted
Encumbrances, Tenant will not directly or indirectly create or allow to remain and will promptly discharge at its expense any lien, encumbrance,
attachment, title retention agreement or claim upon any Facility, this Lease or Tenant’s interest in any Facility or any attachment,
levy, claim or encumbrance in respect of the Rent.

 

    	13

     

    

 

ARTICLE
VII

MAINTENANCE
AND REPAIR

 

7.1
Tenant’s Maintenance Obligation. Tenant shall (a) keep and maintain each Facility in good appearance, repair and condition,
and maintain proper housekeeping, (b) promptly make all repairs (interior and exterior, structural and nonstructural, ordinary and extraordinary,
foreseen and unforeseen) necessary to keep each Facility in good and lawful order and condition and in compliance with all Legal Requirements,
Insurance Requirements and Authorizations and to maintain each Facility in a high quality operating and structural condition for use
for its Primary Intended Use, and (c) keep and maintain all Landlord Personal Property and Tenant Personal Property in good condition
and repair and replace such property consistent with prudent industry practice. All repairs performed by Tenant shall be done in a good
and workmanlike manner. Landlord shall under no circumstances be required to repair, replace, build or rebuild any improvements on any
Facility, or to make any repairs, replacements, alterations, restorations or renewals of any nature or description to any Facility, whether
ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to make any expenditure whatsoever with respect thereto,
or to maintain any Facility in any way. Tenant hereby waives, to the extent permitted by law or any equitable principle, the right to
make repairs at the expense of Landlord pursuant to any law currently in effect or hereafter enacted.

 

7.2
Premises Condition Report. Landlord, may from time to time and at Tenant’s sole expense, cause an engineer designated
by Landlord, in its sole discretion, to inspect any Facility and issue a report (a “Premises Condition Report”) with
respect to such Facility’s condition; provided, however, Tenant’s obligation to bear the expense for such inspections and
reports shall be limited to one such inspection and report in any two (2) year period unless (a) an Event of Default has occurred and
is continuing or (b) Landlord has a reasonable basis to believe that there is a condition at such Facility which could be a violation
of Section 7.1 above or could cause such Facility to be out of compliance with all applicable Authorizations and/or Required Authorizations.
Tenant shall, at its own expense, make any and all repairs or replacements that are recommended by such Premises Condition Report that
relate to life safety or are otherwise required to be performed by Tenant under Section 7.1 above.

 

7.3
Notice of Non-Responsibility. Nothing contained in this Lease and no action or inaction by Landlord shall be construed as
(a) constituting the consent or request of Landlord, expressed or implied, to any contractor, subcontractor, laborer, materialman or
vendor to or for the performance of any labor or services or the furnishing of any materials or other property for the construction,
alteration, addition, repair or demolition of or to any Facility or any part thereof; or (b) giving Tenant any right, power or permission
to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion
as would permit the making of any claim against Landlord in respect thereof or to make any agreement that may create, or in any way be
the basis for, any right, title, interest, lien, claim or other encumbrance upon the estate of Landlord in any Facility or any portion
thereof. Landlord may post, at Tenant’s sole cost, such notices of non-responsibility upon, or of record against, any Facility
to prevent the lien of any contractor, subcontractor, laborer, materialman or vendor providing work, services or supplies to Tenant from
attaching against such Facility. Tenant agrees to promptly execute and record any such notice of non-responsibility at Tenant’s
sole cost.

 

7.4
Permitted Alterations. Without Landlord’s prior written consent, which consent shall not be unreasonably withheld, Tenant
shall not make any Capital Alterations or Material Alterations. Tenant may, without Landlord’s consent, make any other Alterations
provided the same (a) do not decrease the value of the applicable Facility, (b) do not adversely affect the exterior appearance of such
Facility and (c) are consistent in terms of style, quality and workmanship to the original Leased Improvements and Fixtures of such Facility,
and provided further that the same are constructed and performed in accordance with the following:

 

7.4.1
Such construction shall not commence until Tenant shall have procured and paid for all municipal and other governmental permits and
authorizations required therefor (as well as any permits or approvals required in connection with any Permitted Encumbrance of such Facility);
provided, however, that any Plans and Specifications required to be filed in connection with any such permits or authorizations that
require the approval of Landlord shall have been so approved by Landlord.

 

    	14

     

    

 

7.4.2
During and following completion of such construction, the parking that is located on the Land of such Facility shall remain adequate
for the operation of such Facility for its Primary Intended Use and in no event shall such parking be less than what is required by any
applicable Legal Requirements or was located on such Land prior to such construction.

 

7.4.3
All work done in connection with such construction shall be done promptly and in a good and workmanlike manner using materials of
appropriate grade and quality consistent with the existing materials and in conformity with all Legal Requirements.

 

7.4.4
If, by reason of the construction of any Alteration, a new or revised certificate of occupancy for any component of such Facility
is required, Tenant shall obtain such certificate in compliance with all applicable Legal Requirements and furnish a copy of the same
to Landlord promptly upon receipt thereof.

 

7.4.5
Upon completion of any Alteration, Tenant shall promptly deliver to Landlord final lien waivers from each and every general contractor
and, with respect to Alterations costing in excess of Twenty-Five Thousand Dollars ($25,000), each and every subcontractor that provided
goods or services costing in excess of Five Thousand Dollars ($5,000) in connection with such Alterations indicating that such contractor
or subcontractor has been paid in full for such goods or services, together with such other evidence as Landlord may reasonably require
to satisfy Landlord that no liens have been or may be created in connection with such Alteration.

 

7.5
Capital and Material Alterations. If Landlord consents to the making of any Capital Alterations or Material Alterations, Landlord
may impose commercially reasonable conditions thereon in connection with its approval thereof. In addition to any such imposed conditions,
all such Alterations shall be constructed and performed in accordance with Sections 7.4.1 through 7.4.4 above, together with the following:

 

7.5.1
Prior to commencing any such Alterations, Tenant shall have submitted to Landlord a written proposal describing in reasonable detail
such proposed Alteration and shall provide to Landlord for approval such plans and specifications, permits, licenses, construction budgets
and other information (collectively, the “Plans and Specifications”) as Landlord shall request, showing in reasonable
detail the scope and nature of the proposed Alteration.

 

7.5.2
Such construction shall not, and prior to commencement of such construction Tenant’s licensed architect or engineer (to the
extent the services of a licensed architect or engineer are required in connection with such Alterations) shall certify to Landlord that
such construction shall not, impair the structural strength of such Facility or overburden or impair the operating efficiency of the
electrical, water, plumbing, HVAC or other building systems of such Facility.

 

7.5.3
Prior to commencing any such Alterations, Tenant’s licensed architect or engineer (to the extent the services of a licensed
architect or engineer are required in connection with such Alterations) shall certify to Landlord that the Plans and Specifications conform
to and comply with all applicable Legal Requirements and Authorizations.

 

7.5.4
Promptly following the completion of the construction of any such Alterations, Tenant shall deliver to Landlord: (a) “as built”
drawings of any such Alterations included therein, if applicable, certified as accurate by the licensed architect or engineer selected
by Tenant to supervise such work; and (b) a certificate from Tenant’s licensed architect or engineer certifying to Landlord that
such Alterations have been completed in compliance with the Plans and Specifications and all applicable Legal Requirements.

 

    	15

     

    

 

7.6
Capital Expenditures.

 

7.6.1
With respect to each Facility, Tenant agrees to expend, during each Lease Year, an amount (the “Required Capital Expenditures
Amount”) equal to the product of (a) the Required Per Bed Annual Capital Expenditures Amount (as adjusted at the end of each
Lease Year to reflect the CPI Increase during the immediately preceding Lease Year), times (b) the weighted average of the number of
licensed beds in such Facility during such Lease Year, on Capital Expenditures. Landlord agrees to include capital purchases that Tenant
expenses during the calendar year in accordance with IRS de minimis safe harbor limitations of $5,000 per item. Within thirty (30) days
following the end of each Lease Year, Tenant shall deliver to Landlord a report (a “Capital Expenditures Report”),
certified as true, correct and complete by an officer of Tenant, summarizing and describing in reasonable detail all of the Capital Expenditures
made by Tenant during the preceding Lease Year on each Facility, and such receipts and other information as Landlord may reasonably request
relative to the Capital Expenditures made by Tenant during the applicable Lease Year. If, with respect to any Facility, the amount of
the Capital Expenditures so made and reported by Tenant during a particular Lease Year (the “Actual Capital Expenditures Amount”),
which may be averaged over a rolling two-year period, is less than the Required Capital Expenditures Amount applicable to such period,
Tenant shall, on or prior to the due date of the Capital Expenditures Report for such period, deposit (herein, a “Capital Expenditures
Deposit”) with Landlord an amount equal to the amount by which the Required Capital Expenditures Amount for the applicable
period exceeds the Actual Capital Expenditures Amount for such period. If, with respect to any Facility, the Actual Capital Expenditures
Amount so made and reported by Tenant during a particular Lease Year is greater than the Required Capital Expenditures Amount applicable
to such period (such difference being referred to herein as the “Excess Capital Expenditures Amount”), then, (a) provided
no Event of Default then exists hereunder, within ten (10) days after Tenant’s presentation of its Capital Expenditures Report
reflecting such greater expenditure, subject to reasonable extension if required under the Facility Mortgage Documents, Landlord shall
pay to Tenant the lesser of (x) the Excess Capital Expenditures Amount or (y) the amount of funds then held by Landlord as Capital Expenditures
Deposits with respect to such Facility, and (b) to the extent that the Excess Capital Expenditures Amount exceeds the amount of funds
then held by Landlord as Capital Expenditures Deposits with respect to such Facility, such excess shall be credited against the Required
Capital Expenditures Amount for up to the next two (2) succeeding Lease Years with respect to such Facility.

 

7.6.2
Tenant’s obligation to deliver the Capital Expenditures Report applicable to the last Lease Year, together with Tenant’s
obligation to deliver any Capital Expenditures Deposit associated therewith, shall survive the expiration or termination of this Lease.
If, on the basis of such Capital Expenditures Report, Tenant is entitled to a payment as described in Section 7.6.1 above, then, notwithstanding
anything to the contrary, such payment shall be due and payable to Tenant only as and when the conditions of Section 3.1, or if the LC
Election has been made, Section 3.2, for the return of the Security Deposit or, as applicable, Letter of Credit have been met. Except
as provided in the preceding sentence, upon the expiration or termination of this Lease, all Capital Expenditures Deposits held by Landlord
(including, without limitation, any Capital Expenditures Deposits that are required to be deposited by Tenant with respect to the last
Lease Year) shall automatically and without further action of the parties become the property of Landlord, without any obligation on
Landlord’s part to credit Tenant in any manner therefor.

 

7.6.3
The Capital Expenditures Deposits held by Landlord shall not bear interest and may be commingled with the other assets of Landlord.
If Landlord transfers this Lease, it shall transfer all Capital Expenditures Deposits then held by it to the transferee, and Landlord
shall thereafter have no liability of any kind with respect thereto. Following any Event of Default and at Landlord’s option, the
Capital Expenditures Deposits held by Landlord may, in its sole discretion, be applied to Tenant’s obligations in the order that
Landlord in its sole discretion may determine.

 

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7.7
Omitted.

 

7.8
Encroachments . If any of the Leased Improvements of any Facility shall, at any time, encroach upon any property, street or
right-of-way adjacent to such Facility, then, promptly upon the request of Landlord, Tenant shall, at its expense, subject to its right
to contest the existence of any encroachment and, in such case, in the event of any adverse final determination, either (a) obtain valid
waivers or settlements of all claims, liabilities and damages resulting from each such encroachment, whether the same shall affect Landlord
or Tenant, or (b) make such changes in such Leased Improvements, and take such other actions, as Tenant, in the good faith exercise of
its judgment, deems reasonably practicable, to remove such encroachment, including, if necessary, the alteration of any of such Leased
Improvements, and in any event take all such actions as may be necessary to be able to continue the operation of such Leased Improvements
for the Primary Intended Use of such Facility substantially in the manner and to the extent such Leased Improvements were operated prior
to the assertion of such encroachment. Any such alteration shall be made in conformity with the applicable requirements of Sections 7.4
and 7.5.

 

ARTICLE
VIII

PERMITTED
CONTESTS

 

Tenant,
upon prior written notice to Landlord and at Tenant’s expense, may contest, by appropriate legal proceedings conducted in good
faith and with due diligence, the amount, validity or application, in whole or in part, of any licensure or certification decision, Imposition,
Legal Requirement, Insurance Requirement, lien, attachment, levy, encumbrance, charge or claim; provided, however, that (a) in the case
of an unpaid Imposition, lien, attachment, levy, encumbrance, charge, or claim, the commencement and continuation of such proceedings
shall suspend the collection thereof from Landlord and from the applicable Facility, (b) neither the applicable Facility nor any Rent
therefrom nor any part thereof or interest therein would be reasonably likely to be in danger of being sold, forfeited, attached or lost
pending the outcome of such proceedings, (c) in the case of a Legal Requirement, neither Landlord nor Tenant would be in any danger of
civil or criminal liability for failure to comply therewith pending the outcome of such proceedings; (d) Tenant shall give such security
as may be demanded by Landlord to insure ultimate payment of, or compliance with, the same and to prevent any sale or forfeiture (or
risk thereof) of the applicable Facility or the Rent by reason of such non-payment or non-compliance; (e) in the case of the contest
of an Insurance Requirement, the coverage required by Article IX shall be maintained, and (f) if such contest is resolved against Landlord
or Tenant, Tenant shall pay to the appropriate payee the amount required to be paid, together with all interest and penalties accrued
thereon, and otherwise comply with the applicable Legal Requirement or Insurance Requirement. Landlord, at Tenant’s expense, shall
execute and deliver to Tenant such authorizations and other documents as may reasonably be required in any such contest, and, if reasonably
requested by Tenant or if Landlord so desires, shall join as a party therein. The provisions of this Article VIII shall not be construed
to permit Tenant to contest the payment of Rent or any other amount payable by Tenant to Landlord hereunder. Tenant shall indemnify,
defend, protect and hold harmless Landlord from and against any Losses of any kind that may be imposed upon Landlord in connection with
any such contest and any Losses resulting therefrom and the provisions of this Article VIII shall survive the termination or expiration
of this Lease.

 

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ARTICLE
IX

INSURANCE

 

9.1
Required Policies. During the Term, Tenant shall maintain the following insurance with respect to each Facility at its sole
cost and expense:

 

9.1.1
Fire and Extended Coverage against loss or damage by fire, vandalism and malicious mischief, extended coverage perils commonly known
as “Special Risk,” and all physical loss perils normally included in such Special Risk insurance, including but not limited
to sprinkler leakage and windstorm, together with coverage for earthquake (including earth movement), flood (if such Facility is located
in whole or in part within a designated 100-year flood plain area) and terrorism, to the extent not included or specifically excluded
from such Special Risk Insurance, all in an amount equal to one hundred percent (100%) of the full replacement cost of such Facility
(as replacement cost is defined below in Section 9.3), and including a building ordinance coverage endorsement;

 

9.1.2
If such Facility contains steam boilers, pressure vessels or similar apparatus, insurance with an agreed amount endorsement (such
that the insurance carrier has accepted the amount of coverage and has agreed that there will be no co-insurance penalty), covering the
major components of the central heating, air conditioning and ventilating systems, boilers, other pressure vessels, high pressure piping
and machinery, elevators and escalators, if any, and other similar equipment installed in such Facility, in an amount equal to one hundred
percent (100%) of the full replacement cost of such Facility, which policy shall insure against physical damage to and loss of occupancy
and use of such Facility arising out of an accident, explosion, or breakdown covered thereunder;

 

9.1.3
If there is any storage tank, whether above ground or below ground, located at such Facility, whether or not in use, Pollution Liability
Insurance with the same limits as required for the commercial general liability insurance pursuant to Section 9.1.4 below;

 

9.1.4
Business Interruption and Extra Expense Coverage for loss of business income on an actual loss sustained basis for no less than twelve
(12) months, covering perils consistent with the requirements of Section 9.1.1, including either an agreed amount endorsement or a waiver
of any co- insurance provisions, so as to prevent Tenant, Landlord and any other insured thereunder from being a co- insurer, and containing
an extended period indemnity endorsement that provides that the continued loss of business income will be insured until such income returns
to the same level it was prior to the loss or the expiration of not fewer than six (6) months after the date of the completed repairs;

 

9.1.5
Commercial General Liability Coverage (including products and completed operations liability and broad form coverage, host liquor
liability, broad form property damage (with the explosion, collapse and underground damage exclusions deleted), blanket contractual liability,
independent contractors liability, personal injury and advertising injury coverage and medical payments coverage) against claims for
bodily injury, death, medical expenses, property damage occurring on, in or about such Facility, affording the parties protection of
not less than One Million Dollars ($1,000,000) per occurrence and Three Million Dollars ($3,000,000) in the annual aggregate;

 

9.1.6
Professional Liability Coverage for damages for injury, death, loss of service or otherwise on account of professional services rendered
or which should have been rendered, in a minimum amount of One Million Dollars ($1,000,000) per occurrence and Three Million Dollars
($3,000,000) in the annual aggregate;

 

9.1.7
Worker’s Compensation Coverage for injuries sustained by Tenant’s employees in the course of their employment and otherwise
consistent with all applicable Legal Requirements and employer’s liability coverage with limits of not less than Five Hundred Thousand
Dollars ($500,000) each accident, Five Hundred Thousand Dollars ($500,000) bodily injury due to disease each employee and One Million
Dollars ($1,000,000) bodily injury due to disease; and

 

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9.1.8
During such time as Tenant is constructing any improvements, Tenant, at its sole cost and expense, shall carry, or cause to be carried
(a) a completed operations endorsement to the commercial general liability insurance policy referred to above, (b) builder’s risk
insurance, completed value form, covering all physical loss, in an amount and subject to policy conditions satisfactory to Landlord,
and (c) such other insurance, in such amounts, as Landlord deems necessary to protect Landlord’s interest in the Premises from
any act or omission of Tenant’s contractors or subcontractors.

 

9.2
General Insurance Requirements.

 

9.2.1
All of the policies of insurance required to be maintained by Tenant under this Article IX shall (a) be written in form satisfactory
to Landlord and any Facility Mortgage and issued by insurance companies (i) with a policyholder and financial rating of not less than
“A-”/”X” in the most recent version of Best’s Key Rating Guide and (ii) authorized to do insurance business
in the applicable Situs State; (b) provide that any insurance maintained by Landlord for or with respect to the Premises shall be excess
and noncontributory with Tenant’s insurance; and (c) include a waiver of all rights of subrogation and recovery against Landlord.

 

9.2.2
All liability type policies (with the exception of Tenant’s workers’ compensation/employer’s liability insurance
and professional liability insurance) must name Landlord as an “additional insured.” All property policies shall name Landlord
as “loss payee.” All business interruption policies shall name Landlord as “loss payee” with respect to Rent
only. Losses shall be payable to Landlord and/or Tenant as provided herein. In addition, the policies, as appropriate, shall name as
an “additional insured” or “loss payee” any Facility Mortgagee by way of a standard form of mortgagee’s
loss payable endorsement. Any loss adjustment shall require the written consent of Landlord, Tenant, and each Facility Mortgagee unless
the amount of the loss is less than $100,000 in which event no consent shall be required.

 

9.2.3
Tenant shall provide Landlord copies of the original policies or a satisfactory ACORD evidencing the existence of the insurance required
by this Lease and showing the interest of Landlord (and any Facility Mortgagee(s)) prior to the commencement of the Term or, for a renewal
policy, not less than ten (10) days prior to the expiration date of the policy being renewed. If Landlord is provided with an ACORD certificate,
it may demand that Tenant provide a complete copy of the related policy within ten (10) days.

 

9.2.4
Tenant’s obligations to carry the insurance provided for herein may be brought within the coverage of a so-called “blanket”
policy or policies of insurance carried and maintained by Tenant; provided, however, that the coverage afforded Landlord will not be
reduced or diminished or otherwise be materially different from that which would exist under a separate policy meeting all other requirements
hereof by reason of the use of the blanket policy, and provided further that the requirements of this Article IX (including satisfaction
of the Facility Mortgagee’s requirements and the approval of the Facility Mortgagee) are otherwise satisfied, and provided further
that Tenant maintains specific allocations acceptable to Landlord, and provided further that the limit of such blanket policy or policies
shall not be less than Ten Million Dollars ($10,000,000). For any liability policies covering one or more other properties in addition
to the Premises, Landlord may require excess limits as Landlord reasonably determines.

 

9.2.5
Each insurer under the insurance policies maintained by Tenant pursuant to this Article IX shall agree, by endorsement on the policy
or policies issued by it, or by independent instrument furnished to Landlord, that it will give to Landlord thirty (30) days’ written
notice before the policy or policies in question shall be altered or cancelled.

 

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9.3
Replacement Costs. The term “replacement cost” shall mean the actual replacement cost of the insured property
from time to time with new materials and workmanship of like kind and quality (including the cost of compliance with changes in zoning
and building codes and other laws and regulations, demolition and debris removal and increased cost of construction). If Landlord believes
that the replacement cost has increased at any time during the Term, it shall have the right to have such replacement cost redetermined
by an impartial national insurance company reasonably acceptable to both parties (the “impartial appraiser”). The determination
of the impartial appraiser shall be final and binding, and, as necessary, Tenant shall increase, but not decrease, the amount of the
insurance carried pursuant to this Article IX to the amount so determined by the impartial appraiser. Each party shall pay one-half (1/2)
of the fee, if any, of the impartial appraiser. If Tenant has made Alterations, Landlord may at Tenant’s expense have the replacement
cost redetermined at any time after such Alterations are made.

 

9.4
Claims-Made Policies. If Tenant obtains and maintains the commercial general liability coverage and/or professional liability
coverage described in Sections 9.1.4 and 9.1.5 above on a “claims- made” basis, Tenant shall provide continuous liability
coverage for claims arising during the Term and providing for an extended reporting period reasonably acceptable to Landlord for a minimum
of three (3) years after expiration of the Term. If such policy is canceled or not renewed for any reason whatsoever, Tenant must provide
evidence of a replacement policy reflecting coverage with retroactive coverage back to the commencement date of the term and maintain
such coverage for a period of at least three (3) years beyond the expiration of the Term or Tenant must obtain tail coverage for the
length of the remaining term plus an additional three (3) years beyond the expiration of the Term.

 

9.5
Non-Renewal. If Tenant fails to cause the insurance required under Article IX to be issued in the names herein called for,
fails to pay the premiums therefor or fails to deliver such policies or certificates thereof to Landlord, at the times required, Landlord
shall be entitled, but shall have no obligation, to obtain such insurance and pay the premiums therefor, in which event the cost thereof,
together with interest thereon at the Agreed Rate, shall be repayable to Landlord upon demand therefor.

 

9.6
Deductibles. Deductibles/self-insured retentions for the insurance policies required under this Article IX shall not be greater
than $50,000.00; provided, however, that the deductibles/self- insured retentions for losses sustained from earthquake (including earth
movement), flood or windstorm (i.e., wind/hail) may be equal to, but not greater than, five percent (5%) of the replacement cost of the
applicable Facility.

 

9.7
Increase in Limits; Types of Coverages. If, from time to time after the Commencement Date, Landlord determines in the exercise
of its commercially reasonable judgment that the limits of the insurance required to be maintained by Tenant hereunder are no longer
commensurate to the limits being regularly required by institutional landlords of similar properties in the applicable Situs State or
their institutional lenders or that a particular type of insurance coverage is being regularly required by institutional landlords of
similar properties in the applicable Situs State or their institutional lenders and is not then required hereunder, Landlord may notify
Tenant of the same, indicating the particular limit or type of coverage that Landlord has determined should be increased or carried by
Tenant, as applicable. Unless Tenant, in the exercise of its commercially reasonable judgment, objects to Landlord’s determination,
then within thirty (30) days after the receipt of such notice, Tenant shall thereafter increase the particular limit or obtain the particular
coverage, as applicable, unless and until further modified pursuant to the provisions of this Section 9.7. Notwithstanding anything herein
to the contrary, Landlord shall not request a modification of the insurance requirements of this Lease more frequently than once every
three (3) years. If Tenant, in the exercise of its commercially reasonable judgment, objects to Landlord’s determination made under
this Section 9.7 and Landlord and Tenant are unable to agree upon the matter within fifteen (15) days of Tenant’s receipt of the
applicable notice from Landlord, such determination shall be made by a reputable insurance company, consultant or expert (an “Insurance
Arbitrator”) with experience in the skilled nursing insurance industry as mutually identified by Landlord and Tenant in the
exercise of their reasonable judgment. As a condition to a determination of commercial reasonableness with respect to any particular
matter, the Insurance Arbitrator shall be capable of providing, procuring or identifying particular policies or coverages that would
be available to Tenant and would satisfy the requirement in issue. The determinations made by any such experts shall be binding on Landlord
and Tenant for purposes of this Section 9.7, and the costs, fees and expenses of the same shall be shared equally by Tenant and Landlord.
If Tenant and Landlord are unable to mutually agree upon an Insurance Arbitrator, each party shall within ten (10) days after written
demand by the other select one Insurance Arbitrator. Within ten (10) days of such selection, the Insurance Arbitrators so selected by
the parties shall select a third (3rd) Insurance Arbitrator who shall be solely responsible for rendering a final determination
with respect to the insurance requirement in issue. If either party fails to select an Insurance Arbitrator within the time period set
forth above, the Insurance Arbitrator selected by the other party shall alone render the final determination with respect to the insurance
requirement in issue in accordance with the foregoing provisions and such final determination shall be binding upon the parties. If the
Insurance Arbitrators selected by the parties are unable to agree upon a third (3rd) Insurance Arbitrator within the time
period set forth above, either party shall have the right to apply at Tenant’s and Landlord’s joint expense to the presiding
judge of the court of original trial jurisdiction in the county in which any Facility is located to name the third (3rd) Insurance
Arbitrator.

 

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9.8
No Separate Insurance. Tenant shall not, on Tenant’s own initiative or pursuant to the request or requirement of any
third party, (a) take out separate insurance concurrent in form or contributing in the event of loss with that required in this Article
IX to be furnished by, or which may reasonably be required to be furnished by, Tenant or (b) increase the amounts of any then existing
insurance by securing an additional policy or additional policies, unless all parties having an insurable interest in the subject matter
of the insurance, including in all cases Landlord and all Facility Mortgagees, are included therein as additional insureds and the loss
is payable under such insurance in the same manner as losses are payable under this Lease. Notwithstanding the foregoing, nothing herein
shall prohibit Tenant from insuring against risks not required to be insured hereby, and as to such insurance, Landlord and any Facility
Mortgagee need not be included therein as additional insureds, nor must the loss thereunder be payable in the same manner as losses are
payable hereunder except to the extent required to avoid a default under the Facility Mortgage.

 

ARTICLE
X

REPRESENTATIONS
AND WARRANTIES

 

10.1
General. Each party represents and warrants to the other that: (a) this Lease and all other documents executed or to be executed
by it in connection herewith have been duly authorized and shall be binding upon it; (b) it is duly organized, validly existing and in
good standing under the laws of the state of its formation and is duly authorized and qualified to perform this Lease within the applicable
Situs State; and (c) neither this Lease nor any other document executed or to be executed in connection herewith violates the terms of
any other agreement of such party.

 

10.2
Anti-Terrorism Representations.

 

10.2.1
Tenant hereby represents and warrants that neither Tenant, nor any persons or entities holding any legal or beneficial interest whatsoever
in Tenant, are (a) the target of any sanctions program that is established by Executive Order of the President or published by the Office
of Foreign Assets Control, U.S. Department of the Treasury (“OFAC”); (b) designated by the President or OFAC pursuant
to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06,
the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23, 2001) or any Executive Order of the President issued pursuant
to such statutes; or (c) named on the following list that is published by OFAC: “List of Specially Designated Nationals and Blocked
Persons” (collectively, “Prohibited Persons”). Tenant hereby represents and warrants to Landlord that no funds
tendered to Landlord by Tenant under the terms of this Lease are or will be directly or indirectly derived from activities that may contravene
U.S. federal, state or international laws and regulations, including anti-money laundering laws. If the foregoing representations are
untrue at any time during the Term, an Event of Default will be deemed to have occurred, without the necessity of notice to Tenant.

 

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10.2.2
Tenant will not during the Term of this Lease engage in any transactions or dealings, or be otherwise associated with, any Prohibited
Persons in connection with the use or occupancy of the Premises. A breach of the representations contained in this Section 10.2 by Tenant
shall constitute a material breach of this Lease and shall entitle Landlord to any and all remedies available hereunder, or at law or
in equity.

 

10.3
Additional Representations and Warranties. To induce Landlord to execute this Lease and perform its obligations hereunder,
Tenant hereby represents and warrants to Lender that the following are true and correct as of the Commencement Date:

 

10.3.1
No consent or approval of, or filing, registration or qualification with any Governmental Authority or any other Person is required
to be obtained or completed by Tenant or any Affiliate in connection with the execution, delivery, or performance of this Lease that
has not already been obtained or completed.

 

10.3.2
The identity of the holders of the partnership or membership interests or shares of stock, as applicable, in Tenant and their respective
percentage of ownership as of the Commencement Date are set forth on Schedule 2. No partnership or limited liability company interests,
or shares of stock, in Tenant, other than those described above, are issued and outstanding. There are no preemptive or other outstanding
rights, options, warrants, conversion rights or similar agreements or understandings for the purchase or acquisition from Tenant of any
partnership or limited liability company interest of or shares of stock in Tenant except as may be set forth in Tenant’s organizational
and formation documents, complete, true and accurate copies of which have been provided to Landlord.

 

10.3.3
Neither Tenant nor Guarantor is insolvent and there has been no Bankruptcy Action by or against any of them. Tenant’s assets
do not constitute unreasonably small capital to carry out its business as conducted or as proposed to be conducted.

 

10.3.4
All financial statements and other documents and information previously furnished by or on behalf of any Tenant or Guarantor to Landlord
in connection with the Facilities and this Lease are true, complete and correct in all material respects and fairly present on a consistent
basis with the financial conditions of the subjects thereof for the immediately prior periods as of the respective dates thereof and
do not fail to state any material fact necessary to make such statements or information not misleading, and no material adverse change
with respect to any Facility, Tenant or Guarantor has occurred since the respective dates of such statements and information. Neither
Tenant nor any Guarantor has any material liability, contingent or otherwise, not disclosed in such financial statements and which is
required to be disclosed in such financial statements in accordance with GAAP.

 

10.3.5
Tenant has each Authorization and other rights from, and has made all declarations and filings with, all applicable Governmental
Authorities, all self-regulatory authorities and all courts and other tribunals necessary to engage in the management and operation of
the Facilities for the Primary Intended Use. No Governmental Authority is, to Tenant’s knowledge, considering limiting, suspending
or revoking any such Authorization. All such Authorizations are valid and in full force and effect and Tenant is in material compliance
with the terms and conditions of all such Authorizations.

 

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ARTICLE
XI

DAMAGE
AND DESTRUCTION

 

11.1
Notice of Damage or Destruction. Tenant shall promptly notify Landlord of any damage or destruction of any Facility in excess
of $10,000. Said notification shall include: (a) the date of the damage or destruction and the Facility or Facilities damaged, (b) the
nature of the damage or destruction together with a description of the extent of such damage or destruction, (c) a preliminary estimate
of the cost to repair, rebuild, restore or replace the Facility, and (d) a preliminary estimate of the schedule to complete the repair,
rebuilding, restoration or replacement of the Facility.

 

11.2
Restoration. Tenant shall diligently repair or reconstruct any Facility that has been damaged or destroyed to a like or better
condition than existed prior to such damage or destruction in accordance with Section 7.5. Any net insurance proceeds payable with respect
to such damage or destruction shall be paid directly to Landlord and; provided Tenant is diligently performing the restoration and repair
work with respect to such Facility and no Event of Default has occurred hereunder, shall be used for the repair or reconstruction of
such Facility. Landlord shall disburse any such net insurance proceeds as and when required by Tenant in accordance with normal and customary
practice for the payment of a general contractor in connection with construction projects similar in scope and nature to the work being
performed by or on behalf of Tenant, including, without limitation, the withholding of ten percent (10%) of each disbursement until the
required work is completed as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable
Governmental Authority and proof has been furnished to Landlord that no lien has attached or will attach to the applicable Facility in
connection with the restoration and repair work.

 

11.3
Insufficient or Excess Proceeds. If the net insurance proceeds paid to Landlord in connection with any such damage or destruction
are insufficient, Tenant shall nevertheless remain responsible, at its sole cost and expense, to repair and reconstruct the applicable
Facility as required in this Article XI and Tenant shall provide the required additional funds. Tenant expressly assumes all risk of
loss in connection with any damage or destruction to a Facility, whether or not such damage or destruction is insurable or insured against.
Tenant shall pay any insurance deductible and any other uninsured Losses. If the net insurance proceeds paid to Landlord in connection
with any such damage or destruction are more than sufficient, the surplus shall belong and be paid to Tenant; provided, however, that
any such surplus shall be paid by Landlord to Tenant only following the disbursement of net insurance proceeds necessary to complete
the repair and restoration work as required pursuant to this Article XI. Tenant shall not have any right under this Lease, and hereby
waives all rights under applicable law, to abate, reduce, or offset rent by reason of any damage or destruction of any Facility by reason
of an insured or uninsured casualty.

 

11.4
Facility Mortgagee. Notwithstanding anything in this Lease to the contrary, Tenant hereby acknowledges and agrees that any
Facility Mortgagee may retain and disburse any net insurance proceeds payable in connection with any damage or destruction to a Facility.
In such event, Tenant shall comply with the requests and requirements of such Facility Mortgagee in connection with the performance of
the repair and restoration work and the disbursement of the net insurance proceeds in connection therewith. If, in connection with any
damage or destruction to a Facility that results in the loss of fifty percent (50%) or more of the licensed beds at the affected Facility
or that would cost more than fifty percent (50%) of the value of such Facility to restore, any Facility Mortgagee elects to require that
any net insurance proceeds payable in connection with such damage or destruction to a Facility be applied by Landlord to reduce the outstanding
principal balance of any Facility Mortgage, Landlord may elect, in its sole discretion and by notice to Tenant delivered promptly after
the receipt by Landlord of notice of such election from Facility Mortgagee, to terminate this Lease as to the affected Facility, in which
event the current Rent shall be equitably abated as of the effective date of such termination based on the allocable share of Landlord’s
initial investment in the Premises to the affected Facility. Notwithstanding anything in this Lease to the contrary, Tenant shall remain
liable for any uninsured portion of any damage or destruction if this Lease is so terminated as to the applicable Facility. If Landlord
elects not to terminate this Lease as to the affected Facility (despite the applicable Facility Mortgagee having made the election to
require that any net insurance proceeds payable in connection with such damage or destruction to a Facility be applied by Landlord to
reduce the outstanding principal balance of such Facility Mortgage), Landlord’s own funds shall be disbursed to Tenant from time
to time as, when, and subject to the satisfaction of the same terms, conditions and requirements as would have governed the disbursement
of net insurance proceeds that Landlord’s funds replace.

 

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ARTICLE
XII

CONDEMNATION

 

Except
as provided to the contrary in this Article XII, a Condemnation of any Facility or any portion thereof shall not terminate this Lease,
which shall remain in full force and effect, and Tenant hereby waives all rights under applicable law to abate, reduce or offset Rent
by reason of any such Condemnation. Following a Complete Taking of any Facility, Tenant may at its election, made within thirty (30)
days of the effective date of such Complete Taking, terminate this Lease with respect to such Facility and the current Rent shall be
equitably abated as of the effective date of such termination based on the allocable share of Landlord’s initial investment in
the Premises to the Facility subject to the Complete Taking. Following a Partial Taking of any Facility, the Rent shall be abated to
the same extent as the resulting diminution in the Fair Market Value of such Facility and, as necessary (as reasonably determined by
Landlord), Tenant at its sole cost shall restore such Facility in accordance with Section 7.5. Landlord alone shall be entitled to receive
and retain any award for a Condemnation other than a Temporary Taking; provided, however, Tenant shall be entitled to submit
its own claim in the event of any such Condemnation with respect to the relocation costs incurred by Tenant as a result thereof. In the
event of a Temporary Taking of any Facility, Tenant shall be entitled to receive and retain any and all awards for the Temporary Taking;
provided, however, that Base Rent shall not be abated during the period of such Temporary Taking.

 

ARTICLE
XIII

DEFAULT

 

13.1
Events of Default. The occurrence of any of the following shall constitute an “Event of Default” and there
shall be no cure period therefor except as otherwise expressly provided in this Section 13.1:

 

13.1.1
Tenant shall fail to pay: (i) any installment of Rent within ten (10) calendar days of its Payment Date, or (ii) any installment
of Deferred Rent within ten (10) calendar days of its Payment Date;

 

13.1.2
(a) The revocation or termination of any Authorization that would have a material adverse effect on the operation of any Facility
for its Primary Intended Use; (b) except as permitted pursuant to the terms of Article XI or Article XII in connection with a casualty
or Condemnation, the voluntarily cessation of operations at any Facility; (c) the sale or transfer of all or any portion of any Authorization;
or (d) the use of any Facility other than for its Primary Intended Use;

 

13.1.3
Any material suspension, limitation or restriction placed upon Tenant, any Authorization, any Facility, the operations at any Facility
or Tenant’s ability to admit residents or patients at the Premises (e.g., an admissions ban or non-payment for new admissions by
any Thirty Party Payor Program resulting from an inspection survey); provided, however, if any such material suspension, limitation or
restriction is curable by Tenant under the applicable Authorization or Legal Requirement, it shall not constitute an Event of Default
if Tenant promptly commences to cure such breach and thereafter diligently pursues such cure to the completion thereof within the lesser
of: (a) the time period in which the applicable governmental agency has given Tenant to undertake corrective action, or (b) thirty (30)
days after the occurrence of any such material suspension, limitation or restriction;

 

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13.1.4
Any of the following shall occur: (i) a default under any other lease or agreement between Landlord or an Affiliate of Landlord and
Tenant (or Guarantor) or an Affiliate of Tenant (or Guarantor), or any letter of credit, guaranty, mortgage, deed of trust, or other
instrument executed by Tenant (or Guarantor) or an Affiliate of Tenant (or Guarantor) in favor of Landlord or an Affiliate of Landlord,
in every case, whether now or hereafter existing, where the default is not cured within any applicable grace period set forth therein,
or (ii) a default under the Facilities Transition Agreement, where the default is not cured within any applicable grace period set forth
therein;

 

13.1.5
a material default by Tenant, any Guarantor or any Affiliate of Tenant or any Guarantor shall occur under any lease, guaranty, loan
or financing agreement with any other party that is not cured within any applicable cure period provided for therein;

 

13.1.6 Tenant,
any Guarantor, or any Affiliate of Tenant or any Guarantor shall (a) admit in writing its inability to pay its debts generally as
they become due; (b) file a petition in bankruptcy or a petition to take advantage of any insolvency act; (c) make an assignment for
the benefit of its creditors; (d) consent to the appointment of a receiver of itself or of the whole or any substantial part of its
property; or (e) file a petition or answer seeking reorganization or arrangement under the Federal bankruptcy laws or any other
applicable law or statute of the United States of America or any state thereof;

 

13.1.7
Any petition is filed by or against any Tenant, any Guarantor, or any Affiliate of any Tenant or any Guarantor under federal bankruptcy
laws, or any other proceeding is instituted by or against any Tenant, any Guarantor or any Affiliate of any Tenant or any Guarantor seeking
to adjudicate it a bankrupt or insolvent, or seeking liquidation, reorganization, arrangement, adjustment or composition of it or its
debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief
or the appointment of a receiver, trustee, custodian or other similar official for any Tenant, any Guarantor or any Affiliate of any
Tenant or any Guarantor, or for any substantial part of the property of any Tenant, any Guarantor or any Affiliate of any Tenant or any
Guarantor, and Tenants fails to notify Landlord of such proceeding within three (3) Business Days of the institution thereof and such
proceeding is not dismissed within sixty (60) days after institution thereof, or any Tenant, any Guarantor or any Affiliate of any Tenant
or any Guarantor shall take any action to authorize or effect any of the actions set forth above in this Section 13.1.6;

 

13.1.8
Any of the representations or warranties made by Tenant in this Lease or by Guarantor in the Guaranty proves to be untrue when made
in any material respect;

 

13.1.9
Tenant fails to observe or perform any term, covenant or other obligation of Tenant set forth in Section 6.7 and such failure is
not cured within ten (10) days after receipt of notice of such failure from Landlord; provided, however, the failure to timely deliver
any of the required items identified under the heading “Regulatory Reporting” on Exhibit D attached hereto shall be an Event
of Default without notice and cure opportunity.

 

13.1.10
Tenant fails to perform or comply with the provisions of Section 3.1 or Section 3.2, as applicable, Section 6.11, Section 6.12, Section
6.13, Article IX or Article XVII within the applicable time periods set forth therein, if any; or

 

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13.1.11
Tenant fails to observe or perform any other term, covenant or condition of this Lease and such failure is not cured by Tenant within
thirty (30) days after notice thereof from Landlord, unless such failure cannot with due diligence be cured within a period of thirty
(30) days, in which case such failure shall not be deemed to be an Event of Default if Tenant proceeds promptly and with due diligence
to cure the failure and diligently completes the curing thereof within sixty (60) days after such notice from Landlord; provided, however,
that such notice shall be in lieu of and not in addition to any notice required under applicable law.

 

13.2
Remedies. Upon the occurrence of an Event of Default, Landlord may exercise all rights and remedies under this Lease and the
laws of the applicable Situs State that are available to a lessor of real and personal property in the event of a default by its lessee,
and as to the Lease Collateral, all remedies granted under the laws of the applicable Situs State to a secured party under its Uniform
Commercial Code. Landlord shall have no duty to mitigate damages unless required by applicable law and shall not be responsible or liable
for any failure to relet any Facility or to collect any rent due upon any such reletting. Tenant shall pay Landlord, immediately upon
demand, all expenses incurred by it in obtaining possession and reletting any Facility, including fees, commissions and costs of attorneys,
architects, agents and brokers.

 

13.2.1
Without limiting the foregoing, Landlord shall have the right (but not the obligation) to do any of the following upon an Event of
Default: (a) sue for the specific performance of any covenant of Tenant as to which it is in breach; (b) enter upon any Facility, terminate
this Lease, dispossess Tenant from any Facility and/or collect money damages by reason of Tenant’s breach, including the acceleration
of all Rent which would have accrued after such termination and all obligations and liabilities of Tenant under this Lease which survive
the termination of the Term; (c) elect to leave this Lease in place and sue for Rent and other money damages as the same come due; (d)
(before or after repossession of a Facility pursuant to clause (b) above and whether or not this Lease has been terminated) relet such
Facility to such tenant, for such term (which may be greater or less than the remaining balance of the Term), rent, conditions (which
may include concessions or free rent) and uses as it may determine in its sole discretion and collect and receive any rents payable by
reason of such reletting; and (e) sell any Lease Collateral in a non-judicial foreclosure sale.

 

13.2.2
Upon the occurrence of an Event of Default, and upon commencement of proceedings to enforce the rights of Landlord hereunder, Landlord
shall be entitled, as a matter of right, to appoint a receiver to take possession of the Premises, pending the outcome of such proceedings,
to manage the operation of the Premises, to collect and disburse all rents, issues, profits and income generated thereby and to the extent
applicable and possible, to preserve or replace any Authorization or to otherwise substitute the licensee or provider thereof. If a receiver
is appointed pursuant hereto, the receiver shall be paid a reasonable fee for its services and all such fees and other expenses incurred
by Landlord in connection with the appointment of the receiver shall be paid in addition to, and not in limitation of, the Rent otherwise
due to Landlord hereunder. Tenant irrevocably consents to the appointment of a receiver following an Event of Default and thus stipulates
to and agrees not to contest the appointment of a receiver under such circumstances and for such purposes.

 

13.2.3
If Tenant at any time shall fail to make any payment or perform any act on its part required to be made or performed under this Lease,
then Landlord may, without waiving or releasing Tenant from any obligations or default hereunder, make such payment or perform such act
for the account and at the expense of Tenant, and enter upon the applicable Facility for the purpose of taking all such action as may
be reasonably necessary. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all necessary and incidental
costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the performance of any such
act by it, together with interest at the Agreed Rate from the date of the making of such payment or the incurring of such costs and expenses,
shall be payable by Tenant to Landlord upon Landlord’s written demand therefor.

 

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13.2.4
No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each
and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing
at law or in equity. Any notice or cure period provided herein shall run concurrently with any provided by applicable law.

 

13.2.5
If Landlord initiates judicial proceedings or if this Lease is terminated by Landlord pursuant to this Article XIII, Tenant waives,
to the extent permitted by applicable law, (a) any right of redemption, re-entry, or repossession; and (b) the benefit of any laws now
or hereafter in force exempting property from liability for rent or for debt.

 

13.2.6
Notwithstanding anything in this Lease to the contrary, and without limiting any of the other rights or remedies conferred upon Landlord
under this Lease or at law or in equity, upon the occurrence of a Facility Default, Landlord may, at its option and by notice to Tenant,
terminate this Lease immediately as to any one or more of the Facilities (selected in Landlord’s discretion and by notice to Tenant)
to which such Facility Default relates (a termination of this Lease as to less than all of the Facilities as provided in this Section
13.2.5 is herein referred to as a “Limited Termination Election”) (the Facility or Facilities as to which Landlord
elects to terminate this Lease as provided in this Section 13.2.5 are herein referred to as “Terminated Facilities”).
Upon delivery of a termination notice as provided in this13.2.5, Tenant shall have no right to cure the Facility Default in question,
all rights of Tenant under this Lease shall cease as to the Terminated Facilities so specified and the provisions of this Section 13.2.5
shall apply. Without limitation of the foregoing, if Landlord makes a Limited Termination Election, the deletion of the applicable Terminated
Facilities from this Lease shall be absolutely without limitation of each Tenant’s continuing obligation (on a joint and several
basis) for the damages and other amounts owing on account of the Event of Default giving rise to the deletion from this Lease of such
Terminated Facilities or the termination of this Lease as to such Terminated Facilities.

 

(a)
If this Lease is terminated as to one or more Terminated Facilities pursuant to this Section 13.2.5, then without necessity of any further
action of the parties, this Lease shall terminate as to the Terminated Facility or Terminated Facilities, and the Terminated Facility
or Terminated Facilities shall be separated and removed herefrom, at such time (such date, the “Facility Removal Date”)
as Landlord delivers notice to Tenant exercising its termination rights pursuant to this Section 13.2.5 (such notice, a “Termination
Notice”). As of the applicable Facility Removal Date, this Lease shall be automatically and ipso facto amended to:

 

	 	(i)	Delete
    and eliminate the Terminated Facility or Terminated Facilities herefrom;
	 	 	 
	 	(ii)	Exclude
    the applicable Terminated Facility or Terminated Facilities from the definition of “Premises”; and
	 	 	 
	 	(iii)
    	The
    current Rent shall be equitably reduced as of the Facility Removal Date based on the allocable share of Landlord’s initial
    investment in the Premises to the Terminated Facility or Terminated Facilities.

 

(b)
Promptly (and in any event within ten (10) days after delivery of Landlord’s request therefor, Tenant shall execute and deliver
to Landlord such instrument(s) as Landlord may from time to time request reflecting the elimination of any Terminated Facility or Terminated
Facilities herefrom on the terms described above.

 

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ARTICLE
XIV

OBLIGATIONS
OF TENANT ON EXPIRATION OR TERMINATION OF LEASE

 

14.1
Surrender. On the Expiration Date or earlier termination or cancellation of this Lease (or the earlier dispossession of Tenant
from any Facility), Tenant shall deliver to Landlord or Landlord’s designee (a) possession of each Facility in a neat and clean
condition, with each Facility being fully operational as of such date and in compliance with all Authorizations, and (b) all business
records (other than corporate financial records or proprietary materials), data, patient and resident records, and patient and resident
trust accounts, which may be necessary, desirable or advisable for the operation of each Facility for its Primary Intended Use. Tenant
shall have no obligation to perform any Alterations necessitated by, or imposed in connection with, a change of ownership inspection
survey for the transfer of operation of such Facility to Landlord or Landlord’s designee unless such Alterations were previously
required hereunder or by the applicable licensing authorities to be undertaken by Tenant prior to the Expiration Date (or earlier termination
date or cancellation of this Lease or earlier dispossession of Tenant from any Facility) and Tenant failed to do so.

 

14.2
Transition.

 

14.2.1
In connection with the expiration or earlier termination of this Lease with respect to any Facility, or the earlier dispossession
of Tenant from any Facility, Landlord shall have the right to require an Operational Transfer with respect to such Facility by delivery
to Tenant of a Transition Notice (as defined below). As used in this Lease, “Operational Transfer” shall mean the
transfer and transition, practically and legally, of the day-to-day operations of a Facility for the Primary Intended Use of such Facility
to Landlord and/or Landlord’s designee without interruption of the business activities therein, regulatory or otherwise. Landlord
may exercise its right to require an Operational Transfer by delivering written notice to Tenant of Landlord’s election to require
an Operational Transfer (a “Transition Notice”) at any time.

 

14.2.2
In connection with an Operational Transfer, or at the time of Tenant’s surrender of a Facility to Landlord or its designee,
Tenant shall cooperate fully with Landlord or its designee in transferring (or obtaining) all Authorizations and Governmental Payors’
certifications and shall take all necessary actions, including, without limitation, filing such applications, petitions and transfer
notices and making such assignments, conveyances and transfers as are necessary, desirable or advisable to accomplish an Operational
Transfer. In connection therewith, Tenant shall transfer, to the extent permitted by applicable law, to Landlord or Landlord’s
designee all contracts, including contracts with Governmental Authorities, which may be necessary, desirable or advisable for the operation
of each Facility for its Primary Intended Use. Subject to all applicable Legal Requirements, Tenant hereby assigns, effective upon the
Expiration Date or earlier termination or cancellation of this Lease (or the earlier dispossession of Tenant from any Facility), all
rights to operate the Facility to Landlord or its designee, including all required Authorizations and all rights to apply for or otherwise
obtain them. In furtherance of the foregoing, Tenant agrees to enter into a commercially reasonable operations transfer agreement with
Landlord or Landlord’s designee, which agreement shall provide, inter alia, for the proration of operational revenues and
liabilities based on when Landlord or its designee actually takes possession of the applicable Facility or Facilities.

 

    	28

     

    

 

14.2.3
Tenant agrees to enter into interim sublease agreements or management agreements as may be necessary to effect a transfer of the
operations of the Facility or Facilities for their Primary Intended Use prior to the time that Landlord or its designee, as applicable,
holds all Authorizations from all applicable Governmental Authorities necessary to so operate such Facility or Facilities, and (b) Tenant
shall remain as licensee and participating provider in any payment programs with Governmental Payors or third party payors in which a
Facility participates until such time as Landlord or its designee has received all Authorizations necessary to operate any Facility.
Notwithstanding the foregoing, as a condition to Tenant remaining as licensee and participating provider as set forth above, Landlord
or its designee shall, except in connection with a termination of this Lease resulting from an Event of Default (or the earlier dispossession
of Tenant from any Facility as a result of an Event of Default), indemnify, defend, protect and hold harmless Tenant from and against
any loss, damage, cost or expense incurred by Tenant on account of any third party claim to the extent directly caused by the acts or
omissions of Landlord or its designee and during the period while relying on Tenant’s status as licensee or participating provider
in any payment programs with Governmental Payors or third party payment programs in which a Facility participates.

 

14.2.4
Notwithstanding anything in this Lease which may be construed to the contrary, if (i) Landlord delivers a Transition Notice as to
a particular Facility or Facilities, (ii) the Term expires prior to the delivery of a Transition Notice but Landlord has not delivered
a Closure Notice, or (iii) this Lease is terminated as a result of an Event of Default and Landlord has not delivered a Closure Notice,
then in all such cases Tenant shall thereafter continue to operate the Facility or Facilities in accordance with all of the requirements
of this Lease until the earliest to occur of the following: (a) the date on which a successor operator assumes operation of such Facility,
(b) the date that is one hundred eighty (180) days after the Expiration Date, or (c) the date on which such Facility is closed by Tenant
in accordance with and pursuant to the requirements of this Lease and in connection with a Closure Notice delivered by Landlord.

 

14.2.5 If
Tenant operates one or more Facilities after the Expiration Date or earlier termination of this Lease (either pursuant to
Landlord’s request or pursuant to Section 14.2.3, then, from and after the expiration of this Lease and until the earliest to
occur of the dates described in Section 14.2.3 (the “Reimbursement Period”), (a) Landlord shall provide Tenant
with an operating budget, (b) Landlord shall include in the aforesaid operating budget, and Tenant shall continue to pay during the
Reimbursement Period, all Rent that would have been owing under this Lease if this Lease had not expired (equitably prorated if
Tenant operates less than all of the Facilities), and (c) Landlord shall reimburse Tenant for any operating deficits that Tenant may
be required to fund out-of- pocket on account of operating losses and expenses incurred by Tenant by reason of, or arising out of
compliance with, such budget with respect to the Reimbursement Period. Any such reimbursement shall be due from Landlord to Tenant
within thirty (30) days after request by Tenant, provided that Tenant shall furnish such documentation of any operating deficits,
losses and expenses as Landlord may reasonably request.

 

14.2.6
Notwithstanding anything to the contrary contained in this Lease, Tenant shall not, prior to delivery of a Closure Notice by Landlord
to Tenant, commence to wind up and terminate the operations of any Facility or relocate the patients or occupants of any Facility to
any other health care facility (a “Facility Termination”). Notwithstanding the foregoing, if Landlord has not delivered
a Closure Notice or a Transition Notice to Tenant prior to the day that is one hundred twenty (120) days following the Expiration Date,
then Tenant may commence the Facility Termination as to such Facility or Facilities and, upon the closure of such Facility or Facilities
in accordance with this Lease and all applicable Legal Requirements, Tenant shall vacate such Facility or Facilities and surrender possession
thereof to Landlord in accordance with all applicable requirements of this Lease. If, prior to the day that is one hundred twenty (120)
days following the Expiration Date, Landlord delivers a Transition Notice to Tenant, Tenant shall not commence or otherwise engage in
a Facility Termination with respect to the applicable Facility or Facilities. If Landlord delivers a Closure Notice and elects to institute
a Facility Termination, Tenant shall, upon the prior written approval of Landlord, take all commercially reasonable steps necessary ,
in compliance with all Legal Requirements and Authorizations, to timely effectuate the same, all at Tenant’s sole cost and expense.

 

    	29

     

    

 

14.2.7
The terms of this Section 14.2 shall survive the expiration or sooner termination of this Lease.

 

14.3
Tenant Personal Property. Provided that no Event of Default then exists, in connection with the surrender of the Premises,
Tenant may upon at least five (5) Business Days prior notice to Landlord remove from the Premises in a workmanlike manner all Tenant
Personal Property, leaving the Premises in good and presentable condition and appearance, including repairing any damage caused by such
removal; provided that Landlord shall have the right and option to purchase for itself or its designee the Tenant Personal Property for
its then net book value during such five (5) Business Day notice period, in which case Tenant shall so convey the Tenant Personal Property
to Landlord or its designee by executing a bill of sale in a form reasonably required by Landlord. If there is any Event of Default then
existing, Tenant will not remove any Tenant Personal Property from the Premises and instead will, on demand from Landlord, convey it
to Landlord or its designee for no additional consideration by executing a bill of sale in a form reasonably required by Landlord. Title
to any Tenant Personal Property which is not removed by Tenant as permitted above upon the expiration of the Term shall, at Landlord’s
election, vest in Landlord or its designee; provided, however, that Landlord may remove and store or dispose at Tenant’s expense
any or all of such Tenant Personal Property which is not so removed by Tenant without obligation or accounting to Tenant.

 

14.4
Facility Trade Name. If this Lease is terminated by reason of an Event of Default or Landlord exercises its option to purchase
or is otherwise entitled to retain the Tenant Personal Property pursuant to Section 14.3 above, Landlord or its designee shall be permitted
to use the name under which each Facility has done business during the Term in connection with the continued operation of such Facility
for its Primary Intended Use, but for no other use and not in connection with any other property or facility.

 

14.5
Holding Over. If Tenant shall for any reason remain in possession of any Facility after the Expiration Date, such possession
shall be a month-to-month tenancy during which time Tenant shall pay as rental on the first (1st) Business Day of each month
one and one-half (11⁄2) times the total of the monthly Base Rent payable with respect to the last Lease Year, plus all Additional
Rent accruing during the month and all other sums, if any, payable by Tenant pursuant to this Lease. Nothing contained herein shall constitute
the consent, express or implied, of Landlord to the holding over of Tenant after the Expiration Date, nor shall anything contained herein
be deemed to limit Landlord’s remedies.

 

ARTICLE
XV

INDEMNIFICATION

 

In
addition to the other indemnities contained in this Lease, and notwithstanding the existence of any insurance carried by or for the benefit
of Landlord or Tenant, and without regard to the policy limits of any such insurance, Tenant shall protect, indemnify, save harmless
and defend Landlord and the Landlord Indemnified Parties from and against all Losses imposed upon or incurred by or asserted against
Landlord or any Landlord Indemnified Parties by reason of: (a) any accident, injury to or death of Persons or loss of or damage to property
occurring on or about any Facility; (b) any use, misuse, non-use, condition, maintenance or repair of any Facility by Tenant; (c) any
failure on the part of Tenant to perform or comply with any of the terms of this Lease or the breach of any representation or warranty
made by Tenant herein; and (d) any claim for malpractice, negligence or misconduct committed by any Person on or working from any Facility.
Any amounts which become payable by Tenant under this Article XV shall be paid within ten (10) days after demand by Landlord, and if
not timely paid, shall bear interest at the Agreed Rate from the date of such demand until paid. Tenant, at its expense, shall contest,
resist and defend any such claim, action or proceeding asserted or instituted against Landlord or any Landlord Indemnified Parties with
counsel acceptable to Landlord in its sole discretion and shall not, under any circumstances, compromise or otherwise dispose of any
suit, action or proceeding without obtaining Landlord’s written consent. Landlord, at its election and sole cost and expense, shall
have the right, but not the obligation, to participate in the defense of any claim for which Landlord or any Landlord Indemnified Parties
are indemnified hereunder. If Tenant does not act promptly and completely to satisfy its indemnification obligations hereunder, Landlord
may resist and defend any such claims or causes of action against Landlord or any Landlord Indemnified Party at Tenant’s sole cost.
The terms of this Article XV shall survive the expiration or sooner termination of this Lease. For purposes of this Article XV, any acts
or omissions of Tenant, or by employees, agents, assignees, contractors, subcontractors or others acting for or on behalf of Tenant (whether
or not they are negligent, intentional, willful or unlawful), shall be strictly attributable to Tenant.

 

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ARTICLE
XVI

LANDLORD’S
FINANCING

 

16.1
Grant Lien. Without the consent of Tenant, Landlord may from time to time, directly or indirectly, create or otherwise cause
to exist any Facility Mortgage upon any Facility or interest therein. This Lease is and at all times shall be subject and subordinate
to any such Facility Mortgage which may now or hereafter affect any Facility or interest therein and to all renewals, modifications,
consolidations, replacements, restatements and extensions thereof or any parts or portions thereof; provided, however, so long as no
Event of Default has occurred, no Facility Mortgagee shall have the right to disturb Tenant’s leasehold interest or possession
of any Facility or interfere with any other rights of Tenant accorded by the terms of this Lease. This provision shall be self-operative
and no further instrument of subordination shall be required to give it full force and effect; provided, however, that in confirmation
of such subordination, Tenant shall execute promptly any certificate or document that Landlord or any Facility Mortgagee may request
for such purposes so long as the same contains commercially reasonable non- disturbance and attornment provisions.

 

16.2
Attornment. If Landlord’s interest in any Facility or interest therein is sold, conveyed or terminated upon the exercise
of any remedy provided for in any Facility Mortgage Documents (or in lieu of such exercise), or otherwise by operation of law: (a) at
the request and option of the new owner or superior lessor, as the case may be, Tenant shall attorn to and recognize the new owner or
superior lessor as Tenant’s “landlord” under this Lease or enter into a new lease substantially in the form of this
Lease with the new owner or superior lessor, and Tenant shall take such actions to confirm the foregoing within ten (10) days after request;
and (b) the new owner or superior lessor shall not be (i) liable for any act or omission of Landlord under this Lease occurring prior
to such sale, conveyance or termination; (ii) subject to any offset, abatement or reduction of rent because of any default of Landlord
under this Lease occurring prior to such sale, conveyance or termination; (iii) bound by any previous modification or amendment to this
Lease or any previous prepayment of more than one month’s rent, unless such modification, amendment or prepayment shall have been
approved in writing by such Facility Mortgagee or, in the case of such prepayment, such prepayment of rent has actually been delivered
to such new owner or superior lessor; or (iv) liable for any security deposit or other collateral deposited or delivered to Landlord
pursuant to this Lease unless such security deposit or other collateral has actually been delivered to such new owner or superior lessor.

 

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16.3
Cooperation; Modifications. Notwithstanding anything in this Lease to the contrary, Tenant hereby agrees that in connection
with obtaining any Facility Mortgage for any Facility or interest therein, including, without limitation, where the Facility Mortgagee
is an Agency Lender, Tenant shall: (i) execute and deliver to such Agency Lender or other Facility Mortgagee (on the form required by
such Agency Lender or other Facility Mortgagee) any tenant regulatory agreements (including, without limitation, the form of regulatory
agreement typically required by Agency Lenders), subordination agreements (including, without limitation, the form of subordination,
assignment and security agreement typically required by Agency Lenders), or other similar agreements customarily required by Agency Lenders
and other Facility Mortgagees in connection with a mortgage relating to a skilled nursing facility or assisted living facility, and (ii)
modify this Lease as necessary to incorporate the provisions and requirements generally imposed by an Agency Lender or other Facility
Mortgagee in connection with a facility lease relating to a skilled nursing facility or assisted living facility encumbered with a Facility
Mortgage by an Agency Lender or other Facility Mortgagee, including, without limitation, requirements that: (a) Tenant comply with the
operational requirements set forth in the applicable Facility Mortgage Documents (including, without limitation, the obligations under
any regulatory agreement or subordination agreement with an Agency Lender or other Facility Mortgagee), and (b) obligate Tenant to fund
reserves with the Agency Lender or other Facility Mortgagee for taxes, insurance and/or capital improvement and repair obligations as
may be required by said Agency Lender or other Facility Mortgagee, and (iii) provide, within ten (10) days of request therefor from Landlord,
such reasonable documents and materials requested by a lender, including without limitation, insurance certificates. In the event any
Agency Lender or other Facility Mortgagee requires, as a condition to making a Facility Mortgage, an intercreditor agreement with any
receivables lender of Tenant, Tenant shall enter into any such intercreditor agreement and shall take all commercially reasonable efforts
to cause said receivables lender to enter into such intercreditor agreement with said Agency Lender or other Facility Mortgagee on terms
acceptable to said Agency Lender or other Facility Mortgagee.

 

16.4
Compliance with Facility Mortgage Documents. Tenant acknowledges that any Facility Mortgage Documents executed by Landlord
or any Affiliate of Landlord may impose certain obligations on the “borrower” or other counterparty thereunder to comply
with or cause the operator and/or lessee of any Facility to comply with all representations, covenants and warranties contained therein
relating to such Facility and the operator and/or lessee of such Facility, including, covenants relating to (a) the maintenance and repair
of such Facility; (b) maintenance and submission of financial records and accounts of the operation of such Facility and related financial
and other information regarding the operator and/or lessee of such Facility and such Facility itself; (c) the procurement of insurance
policies with respect to such Facility; (d) periodic inspection and access rights in favor of the Facility Mortgagee; and (e) without
limiting the foregoing, compliance with all applicable Legal Requirements relating to such Facility and the operations thereof. For so
long as any Facility Mortgages encumber any Facility or interest therein, Tenant covenants and agrees, at its sole cost and expense and
for the express benefit of Landlord, to operate such Facility in strict compliance with the terms and conditions of the Facility Mortgage
Documents (other than payment of any indebtedness evidenced or secured thereby) and to timely perform all of the obligations of Landlord
relating thereto, or to the extent that any of such duties and obligations may not properly be performed by Tenant, Tenant shall cooperate
with and assist Landlord in the performance thereof (other than payment of any indebtedness evidenced or secured thereby); provided,
however, this Section 16.4 shall not be deemed to impose on Tenant obligations materially more burdensome than Tenant’s obligations
otherwise under this Lease. If any new Facility Mortgage Documents to be executed by Landlord or any Affiliate of Landlord would impose
on Tenant any obligations under this Section 16.4, Landlord shall provide copies of the same to Tenant for informational purposes (but
not for Tenant’s approval) prior to the execution and delivery thereof by Landlord or any Affiliate of Landlord.

 

ARTICLE
XVII

ASSIGNMENT
AND SUBLETTING

 

17.1
Prohibition. Without the prior written consent of Landlord, which may be withheld or conditioned in its sole and absolute
discretion, Tenant shall not suffer or permit any Transfer (including, without limitation, a Transfer of this Lease or any interest herein)
other than a Transfer that is expressly permitted pursuant to the terms of this Lease. Any such purported Transfer without Landlord’s
prior written consent (each an “Unapproved Transfer”) shall be void and shall, at Landlord’s sole option, constitute
an Event of Default giving rise to Landlord’s right, among other things, to terminate this Lease. If Landlord elects to waive its
right to terminate this Lease as a result of any such Unapproved Transfer, this Lease shall continue in full force and effect; provided,
however, that as of the date of such Unapproved Transfer, the Base Rent shall be increased by five percent (5%).

 

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17.2
Landlord Consent. If Landlord consents to a Transfer, such Transfer shall not be effective and valid unless and until the
applicable transferee executes and delivers to Landlord any and all documentation reasonably required by Landlord. Any consent by Landlord
to a particular Transfer shall not constitute consent or approval of any subsequent Transfer, and Landlord’s written consent shall
be required in all such instances. No consent by Landlord to any Transfer shall be deemed to release Tenant from its obligations hereunder
and Tenant shall remain fully liable for payment and performance of all obligations under this Lease. Without limiting the generality
of the foregoing, in connection with any sublease arrangement that has been approved by Landlord, as a condition precedent to any such
approval, any such sublease agreement shall include provisions required by Landlord pertaining to protecting its status as a real estate
investment trust.

 

17.3
Transfers to Affiliates. Notwithstanding Section 17.1 to the contrary, but subject to the rights of any Facility Mortgagee,
Tenant may, without Landlord’s prior written consent, assign this Lease or sublease any Facility to a Person wholly owned and Controlled
by Tenant or any Guarantor if all of the following are first satisfied: (a) such assignee fully assumes Tenant’s obligations hereunder;
(b) Tenant remains fully liable hereunder and Guarantor remains fully liable under the Guaranty; (c) the use of such Facility remains
unchanged; (d) Landlord in its reasonable discretion shall have approved the form and content of all documents for such assignment or
sublease and received an executed counterpart thereof; (e) Tenant delivers evidence to Landlord that such assignment or subletting is
permissible under all applicable Authorizations or that all necessary consents have been obtained to consummate such assignment or subletting;
and (f) Tenant and/or such assignee executes and delivers such other documents as may be reasonably required by Landlord to effectuate
the assignment and continue the security interests and other rights of Landlord pursuant to this Lease or any other documents executed
in connection herewith.

 

17.4
Subtenants. Tenant hereby agrees, that in connection with any sublease of any Facility by Tenant to a wholly-owned subsidiary
of Tenant, or in connection with any management agreement entered into by Tenant (or its affiliate subtenant) and an affiliate of Tenant
in connection with the day-to- day management of a Facility, Tenant shall comply with the following terms and provisions and any failure
by Tenant to comply with the following terms and provisions shall be an immediate Event of Default under the Lease. Tenant hereby agrees
that in the event it desires to sublease a Facility to a wholly-owned subsidiary of Tenant, then Tenant shall be required to comply with
the following provisions before any such Sublease shall be deemed approved or consented to by Landlord, which consent or approval is
required pursuant to the terms of the Lease:

 

	 	i)	Tenant
    shall have provided a fully executed copy of any such sublease to Landlord, which sublease shall be in form and substance reasonably
    acceptable to Landlord; and
	 	 	 
	 	ii)
    	Landlord,
    Tenant and each subtenant shall have entered into a Subordination and Consent to Sublease Agreement in form and substance acceptable
    to Landlord in its sole discretion

 

    	33

     

    

 

Tenant
further hereby agrees that in the event Tenant, or any affiliate subtenant, desires to enter into a management agreement with respect
to the day-to-day operations of a Facility, then Tenant, any subtenant (if applicable), and any such management entity shall be required
to comply with the following provisions before any such management agreement shall be deemed approved or consented to by Landlord, which
consent or approval is required pursuant to the terms of the Lease:

 

	 	i)	Landlord shall have received an executed copy of any such management agreement, which management agreement shall be in form and substance
reasonably acceptable to Landlord; and
	 	 	 
	 	ii)
    	Landlord, Tenant, any subtenant (if applicable) and the applicable management entity shall have entered into a Subordination and Consent
to Management Agreement in form and substance acceptable to Landlord in its sole discretion.

 

17.5
Permitted Occupancy Agreements. Notwithstanding Section 17.1 to the contrary, Tenant may enter into an occupancy agreement
with residents of each Facility without the prior written consent of Landlord provided that (a) the agreement does not provide for life
care services; (b) the agreement does not contain any type of rate lock provision or rate guaranty for more than one calendar year; (c)
the agreement does not provide for any rent reduction or waiver other than for an introductory period not to exceed thirty (30) days;
(d) Tenant may not collect rent for more than one month in advance other than one month of rent collected as security for the performance
of the resident’s obligations to Tenant, which amount is held in a separate escrow account for the benefit of such resident; and
(e) all residents of each Facility are accurately shown in accounting records for such Facility. Without the prior written consent of
Landlord, Tenant shall not materially change the form of resident occupancy agreement that was submitted to Landlord prior to the Commencement
Date; provided, however, no consent will be required for changes required by applicable law, including applicable licensure laws, but
all changes to the form of resident occupancy agreement will be provided to Landlord as and when such changes are made.

 

17.6
Costs. Tenant shall reimburse Landlord for Landlord’s reasonable costs and expenses incurred in conjunction with the
processing and documentation of any assignment, master subletting or management arrangement, including reasonable attorneys’ or
other consultants’ fees whether or not such assignment, master sublease or management agreement is ultimately consummated or executed.

 

ARTICLE
XVIII

CERTAIN
RIGHTS OF LANDLORD

 

18.1
Right of Entry. Landlord and its representatives may enter on any Facility at any reasonable time after reasonable notice
to Tenant to inspect such Facility for compliance to this Lease, to exhibit such Facility for sale, lease or mortgaging, or for any other
reason; provided, however, that no such notice shall be required in the event of an emergency, upon an Event of Default or to post notices
of non-responsibility under any mechanic’s or materialman’s lien law. No such entry shall unreasonably interfere with residents,
patients, patient care or the operations of such Facility.

 

18.2
Conveyance by Landlord. If Landlord or any successor owner of any Facility shall convey such Facility other than as security
for a debt, Landlord or such successor owner, as the case may be, shall thereupon be released from all future liabilities and obligations
of the Landlord under this Lease arising or accruing from and after the date of such conveyance or other transfer and, subject to Section
16.2, all such future liabilities and obligations shall thereupon be binding upon the new owner.

 

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18.3
Granting of Easements, etc. Landlord may, from time to time, with respect to each Facility: (a) grant easements, covenants
and restrictions, and other rights in the nature of easements, covenants and restrictions, (b) release existing easements, covenants
and restrictions, or other rights in the nature of easements, covenants or restrictions, that are for the benefit of such Facility, (c)
dedicate or transfer unimproved portions of such Facility for road, highway or other public purposes, (d) execute petitions to have such
Facility annexed to any municipal corporation or utility district, (e) execute amendments to any easements, covenants and restrictions
affecting such Facility and (f) execute and deliver to any Person any instrument appropriate to confirm or effect such grants, releases,
dedications and transfers (to the extent of its interests in such Facility) without the necessity of obtaining Tenant’s consent
provided that such easement or other instrument or action contemplated by this Section 18.3 does not unreasonably interfere with Tenant’s
operations at such Facility. Notwithstanding anything in this Lease to the contrary, Landlord hereby reserves the right to enter into
any sublease, license agreement, easement or other agreement pursuant to which a third party is given the right to access, maintain,
or operate an antenna, cell tower, satellite dish, or other communication or telecommunication equipment on the Premises. Any license
fees, rent, or other consideration received on account of any such agreement shall be payable to Landlord.

 

ARTICLE
XIX

ENVIRONMENTAL
MATTERS

 

19.1
Hazardous Materials. Tenant shall not allow any Hazardous Materials to be located in, on, under or about any Facility or incorporated
in any Facility; provided, however, that Hazardous Materials may be brought, kept, used or disposed of in, on or about a Facility in
quantities and for purposes similar to those brought, kept, used or disposed of in, on or about similar facilities used for purposes
similar to such Facility’s Primary Intended Use and which are brought, kept, used and disposed of in strict compliance with all
Hazardous Materials Laws.

 

19.2
Notices. Tenant shall immediately advise Landlord in writing of (a) any Environmental Activities in violation of any Hazardous
Materials Laws; (b) any Hazardous Materials Claims against Tenant or any Facility; (c) any remedial action taken by Tenant in response
to any Hazardous Materials Claims or any Hazardous Materials on, under or about any Facility in violation of any Hazardous Materials
Laws; (d) Tenant’s discovery of any occurrence or condition on or in the vicinity of any Facility that materially increase the
risk that such Facility will be exposed to Hazardous Materials; and (e) all communications to or from Tenant, any governmental authority
or any other Person relating to Hazardous Materials Laws or Hazardous Materials Claims with respect to any Facility, including copies
thereof.

 

19.3
Remediation. If Tenant becomes aware of a violation of any Hazardous Materials Laws relating to any Hazardous Materials in,
on, under or about any Facility or any adjacent property, or if Tenant, Landlord or any Facility becomes subject to any order of any
federal, state or local agency to repair, close, detoxify, decontaminate or otherwise remediate any Facility or any property adjacent
thereto, Tenant shall immediately notify Landlord of such event and, at its sole cost and expense, cure such violation or effect such
repair, closure, detoxification, decontamination or other remediation in accordance with all applicable Legal Requirements and subject
to Landlord’s prior approval as to scope, process, content and standard for completion. If Tenant fails to implement and diligently
pursue any such cure, repair, closure, detoxification, decontamination or other remediation, Landlord shall have the right, but not the
obligation, to carry out such action and to recover from Tenant all of Landlord’s costs and expenses incurred in connection therewith.

 

19.4
Indemnity. Tenant shall indemnify, defend, protect, save, hold harmless and reimburse Landlord for, from and against any and
all Losses (whether or not arising out of third-party claims and regardless of whether liability without fault is imposed, or sought
to be imposed, on Landlord) incurred in connection with, arising out of, resulting from or incident to, directly or indirectly, before
or during (but not after) the Term, (a) Environmental Activities, including the effects of such Environmental Activities on any Person
or property within or outside the boundaries of the Land of any Facility, (b) the presence of any Hazardous Materials in, on, under or
about any Facility and (c) the violation of any Hazardous Material Laws. For purposes hereof, Losses include interest, costs of response,
removal, remedial action, containment, cleanup, investigation, design, engineering and construction, damages (including actual, consequential
and punitive damages) for personal injuries and for injury to, destruction of or loss of property or natural resources, relocation or
replacement costs, penalties, fines, charges or expenses, attorney’s fees, expert fees, consultation fees and court costs, and
all amounts paid in investigating, defending or settling any of the foregoing.

 

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19.5
Environmental Inspections. Landlord shall have the right, from time to time, during normal business hours and upon not less
than five (5) days written notice to Tenant, except in the case of an emergency in which event no notice shall be required, to conduct
an inspection of any Facility to determine Tenant’s compliance with this Article XIX. Such inspection may include such testing,
sampling and analyses as Landlord deems reasonably necessary and may be performed by experts retained by Landlord. All costs and expenses
incurred by Landlord under this 19.5 shall be paid on demand by Tenant; provided, however, absent reasonable grounds to suspect Tenant’s
breach of its obligations under this Article XIX, Tenant shall not be required to pay for more than one (1) such inspection in any two
(2) year period with respect to each Facility. The obligations set forth in this Article XIX shall survive the expiration or earlier
termination of this Lease.

 

ARTICLE
XX

LANDLORD’S
SECURITY INTEREST

 

20.1
Grant of Security Interest. For the purpose of securing the payment and performance obligations of Tenant hereunder, Tenant,
as debtor, hereby grants to Landlord, as secured party, a security interest in and an express contractual lien upon, all of Tenant’s
right, title and interest in and to the Property Collateral, Accounts Collateral and Authorization Collateral (collectively, the “Lease
Collateral”). This Lease constitutes a security agreement covering all such Lease Collateral. This security interest and agreement
shall survive the termination of this Lease resulting from an Event of Default. Tenant shall pay all filing and reasonable record search
fees and other costs for such additional security agreements, financing statements, fixture filings and other documents as Landlord may
reasonably require to perfect or continue the perfection of its security interest. Additionally, Tenant shall promptly execute such other
separate security agreements with respect to the Lease Collateral as Landlord may request from time to time to further evidence the security
interest in the Lease Collateral created by this Lease.

 

20.2
Accounts Receivable Financing. With Landlord’s prior written consent, which consent shall not be unreasonably withheld,
the security interests and liens granted to Landlord in the Accounts Collateral may be subordinated to any first priority security interest
granted in connection with accounts receivable financing secured by Tenant so long as: (a) Tenant’s financiers execute an intercreditor
agreement with Landlord in form and substance reasonably acceptable to Landlord, and (b) no Event of Default exists hereunder.

 

20.3
Certain Changes. In no way waiving or modifying the provisions of Article XVII above, Tenant shall give Landlord at least
thirty (30) days’ prior written notice of any change in Tenant’s principal place of business, name, identity, jurisdiction
of organization or corporate structure.

 

ARTICLE
XXI

QUIET
ENJOYMENT

 

So
long as Tenant shall pay the Rent as the same becomes due and shall fully comply with all of the terms of this Lease and fully perform
its obligations hereunder, Tenant shall peaceably and quietly have, hold and enjoy each Facility for the Term, free of any claim or other
action by Landlord or anyone claiming by, through or under Landlord, but subject to all liens and encumbrances of record as of the Commencement
Date or thereafter provided for in this Lease or consented to by Tenant.

 

    	36

     

    

 

ARTICLE
XXII

REIT
RESTRICTIONS

 

22.1
Characterization of Rents. The parties hereto intend that Rent and other amounts paid by Tenant hereunder will qualify as
“rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto
and this Agreement shall be interpreted consistent with this intent

 

22.2
General REIT Provisions. Tenant understands that, in order for Landlord, or any Affiliate of Landlord that is a real estate
investment trust, to qualify as a real estate investment trust, certain requirements must be satisfied, including the provisions of Section
856 of the Code. Accordingly, Tenant agrees, and agrees to cause its Affiliates, permitted subtenants, if any, and any other parties
subject to its control by ownership or contract, to reasonably cooperate with Landlord to ensure that such requirements are satisfied,
including providing Landlord or any of its Affiliates with information about the ownership of Tenant and its Affiliates. Tenant agrees,
and agrees to cause its Affiliates, upon request by Landlord or any of its Affiliates, to take all action reasonably necessary to ensure
compliance with such requirements.

 

22.3
Prohibited Transactions. Notwithstanding anything to the contrary herein, Tenant shall not (a) sublet, assign or enter into
a management arrangement for any Facility on any basis such that the rental or other amounts to be paid by the subtenant, assignee or
manager thereunder would be based, in whole or in part, on either (x) the income or profits derived by the business activities of the
subtenant, assignee or manager or (y) any other formula such that any portion of any amount received by Landlord would fail to qualify
as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto;
(b) furnish or render any services to the subtenant, assignee or manager or manage or operate any Facility so subleased, assigned or
managed; (c) sublet, assign or enter into a management arrangement for any Facility to any Person (other than a taxable REIT subsidiary
of Landlord) in which Tenant or Landlord owns an interest, directly or indirectly (by applying constructive ownership rules set forth
in Section 856(d)(5) of the Code); or (d) sublet, assign or enter into a management arrangement for any Facility in any other manner
which could cause any portion of the amounts received by Landlord pursuant to this Lease or any sublease to fail to qualify as “rents
from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto, or which could
cause any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Code. The requirements of this
Section 22.3 shall likewise apply to any further subleasing by any subtenant.

 

22.4
Personal Property REIT Requirements. Notwithstanding anything to the contrary herein, upon request of Landlord, Tenant shall
cooperate with Landlord in good faith and provide such documentation and/or information as may be in Tenant’s possession or under
Tenant’s control and otherwise readily available to Tenant regarding the valuation of the Premises to assist Landlord in its determination
that Rent allocable for purposes of Section 856 of the Code to the Landlord Personal Property at the beginning and end of a calendar
year does not exceed 15% of the total Rent due hereunder (the “Personal Property REIT Requirement”). Tenant shall
take such reasonable action as may be requested by Landlord from time to time to ensure compliance with the Personal Property REIT Requirement
as long as such compliance does not (a) increase Tenant’s monetary obligations under this Lease, (b) materially and adversely increase
Tenant’s non-monetary obligations under this Lease or (c) materially diminish Tenant’s rights under this Lease. Accordingly,
if requested by Landlord and at Landlord’s expense, Tenant shall cooperate with Landlord as may be necessary from time to time
to more specifically identify and/or value the Landlord Personal Property in connection with the compliance with the Personal Property
REIT Requirement.

 

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ARTICLE
XXIII

NOTICES

 

All
notices and demands, certificates, requests, consents, approvals and other similar instruments under this Lease shall be in writing and
sent by personal delivery, U. S. certified or registered mail (return receipt requested, postage prepaid) or FedEx or similar generally
recognized overnight carrier regularly providing proof of delivery, addressed as follows:

 

	If
    to Tenant:	 	If
    to Landlord:
	 	 	 
	c/o
    Trillium Healthcare Group, LLC	 	c/o
    CareTrust REIT, Inc.
	5115
    East State Road 64	 	905
    Calle Amanecer, Suite 300
	Bradenton,
    FL 34208	 	San
    Clemente, California 92673
	Attn:
    Richard T. Mason	 	Attn:
    Gregory K. Stapley, CEO
	 	 	 
	With
    a copy to:	 	With
    a copy to:
	 	 	 
	Rotella
    Legal Group, P.A.	 	Sherry
    Meyerhoff Hanson & Crance LLP
	100
    South Ashley St., Suite 375	 	610
    Newport Center Drive, Suite 1350
	Tampa,
    FL 33602	 	Newport
    Beach, California 92660
	 	 	Attn:
    James B. Callister, Esq.

 

A
party may designate a different address by notice as provided above. Any notice or other instrument so delivered (whether accepted or
refused) shall be deemed to have been given and received on the date of delivery established by U.S. Post Office return receipt or the
carrier’s proof of delivery or, if not so delivered, upon its receipt. Delivery to any officer, general partner or principal of
a party shall be deemed delivery to such party. Notice to any one co-Tenant shall be deemed notice to all co-Tenants.

 

ARTICLE
XXIV

MISCELLANEOUS

 

24.1
Memorandum of Lease. Landlord and Tenant shall, promptly upon the request of either, enter into a short form memorandum of
this Lease, in form suitable for recording under the laws of the applicable Situs State. Tenant shall pay all costs and expenses of recording
any such memorandum and shall fully cooperate with Landlord in removing from record any such memorandum upon the expiration or earlier
termination of the Term.

 

24.2
No Merger. There shall be no merger of this Lease or of the leasehold estate created hereby by reason of the fact that the
same Person may acquire, own or hold, directly or indirectly, (a) this Lease or the leasehold estate created hereby or any interest in
this Lease or such leasehold estate and

(b)
the fee estate in the Premises.

 

24.3
No Waiver. No failure by Landlord to insist upon the strict performance of any term hereof or to exercise any right, power
or remedy hereunder and no acceptance of full or partial payment of Rent during the continuance of any Event of Default shall constitute
a waiver of any such breach or of any such term. No waiver of any breach shall affect or alter this Lease, which shall continue in full
force and effect with respect to any other then existing or subsequent breach.

 

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24.4
Acceptance of Surrender. No surrender to Landlord of this Lease or any Facility, or of any interest therein, shall be valid
or effective unless agreed to and accepted in writing by Landlord, and no act by Landlord or any representative or agent of Landlord,
other than such a written acceptance by Landlord, shall constitute an acceptance of any such surrender.

 

24.5
Attorneys’ Fees. If Landlord or Tenant brings an action or other proceeding against the other to enforce any of the
terms, covenants or conditions hereof or any instrument executed pursuant to this Lease, or by reason of any breach or default hereunder
or thereunder, the party prevailing in any such action or proceeding and any appeal thereupon shall be paid all of its costs and reasonable
outside attorneys’ fees incurred therein.

 

24.6
Brokers. Landlord and Tenant each warrants to the other that it has not had any contact or dealings with any Person which
would give rise to the payment of any fee or brokerage commission in connection with this Lease, and each shall indemnify, protect, hold
harmless and defend the other from and against any liability for any fee or brokerage commission arising out of any act or omission of
such indemnifying party.

 

24.7
Severability. If any term or provision of this Lease or any application thereof shall be held invalid or unenforceable, the
remainder of this Lease and any other application of such term or provision shall not be affected thereby.

 

24.8
Non-Recourse. Tenant specifically agrees to look solely to the Premises for recovery of any judgment from Landlord; provided,
however, the foregoing is not intended to, and shall not, limit any right that Tenant might otherwise have to obtain injunctive relief
against Landlord, or any action not involving the personal liability of Landlord. Furthermore, in no event shall Landlord be liable to
Tenant for any indirect or consequential damages suffered by Tenant from whatever cause.

 

24.9
Successors and Assigns. This Lease shall be binding upon Landlord and its successors and assigns and, subject to the provisions
of Article XVII, upon Tenant and its successors and assigns.

 

24.10
Governing Law; Jury Waiver. This Lease shall be governed by and construed and enforced in accordance with the internal laws
of Maryland, without regard to the conflict of laws rules thereof; provided that that the law of the applicable Situs State shall govern
procedures for enforcing, in the respective Situs State, provisional and other remedies directly related to such Facility and related
personal property as may be required pursuant to the law of such Situs State, including without limitation the appointment of a receiver;
and, further provided that the law of the Situs State also applies to the extent, but only to the extent, necessary to create, perfect
and foreclose the security interests and liens created under this Lease. EACH PARTY HEREBY WAIVES ANY RIGHTS TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER PARTY AGAINST THE OTHER IN CONNECTION WITH ANY MATTER WHATSOEVER ARISING OUT OF
OR IN ANY WAY CONNECTED WITH THIS LEASE, INCLUDING RELATIONSHIP OF THE PARTIES, TENANT’S USE AND OCCUPANCY OF THE PREMISES, OR
ANY CLAIM OF INJURY OR DAMAGE RELATING TO THE FOREGOING OR THE ENFORCEMENT OF ANY REMEDY.

 

24.11
Entire Agreement. This Lease constitutes the entire agreement of the parties with respect to the subject matter hereof, and
may not be changed or modified except by an agreement in writing signed by the parties. Landlord and Tenant hereby agree that all prior
or contemporaneous oral understandings, agreements or negotiations relative to the leasing of the Premises are merged into and revoked
by this Lease. All exhibits and schedules to this Lease are hereby incorporated herein by this reference.

 

    	39

     

    

 

24.12
Headings. All titles and headings to sections, articles or other subdivisions of this Lease are for convenience of reference
only and shall not in any way affect the meaning or construction of any provision.

 

24.13
Counterparts. This Lease may be executed in any number of counterparts, each of which shall be a valid and binding original,
but all of which together shall constitute one and the same instrument. Executed copies hereof may be delivered by telecopier, email
or other electronic means and upon receipt will be deemed originals and binding upon the parties hereto, regardless of whether originals
are delivered thereafter.

 

24.14
Joint and Several. If more than one Person is the Tenant under this Lease, the liability of such Persons under this Lease
shall be joint and several.

 

24.15
Interpretation. Both Landlord and Tenant have been represented by counsel and this Lease and every provision hereof has been
freely and fairly negotiated. Consequently, all provisions of this Lease shall be interpreted according to their fair meaning and shall
not be strictly construed against any party. Whenever the words “including”, “include” or “includes”
are used in this Lease, they shall be interpreted in a non-exclusive manner as though the words “without limitation” immediately
followed. Whenever the words “herein,” “hereof” and “hereunder” and other words of similar import
are used in this Lease, they shall be interpreted to refer to this Lease as a whole and not to any particular article, section or other
subdivision. Whenever the words “day” or “days” are used in this Lease, they shall mean “calendar day”
or “calendar days” unless expressly provided to the contrary. All references in this Lease to designated “Articles,”
“Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Lease. The relationship
between Landlord and Tenant shall be that of landlord tenant only. No term in this Lease and no course of dealing between the parties
shall be deemed to create any relationship of agency, partnership, joint venture, tenancy in common or joint tenancy or any fiduciary
duty by Landlord to Tenant or any other party.

 

24.16
Time of Essence. Time is of the essence of this Lease and each provision hereof in which time of performance is established
and whenever action must be taken (including the giving of notice or the delivery of documents) hereunder during a certain period of
time or by a particular date that ends or occurs on a day that is not a Business Day, then such period or date shall be extended until
the immediately following Business Day.

 

24.17
Further Assurances. The parties agree to promptly sign all documents reasonably requested by the other party to give effect
to the provisions of this Lease.

 

24.18
First Look. In the event Tenant, Guarantor, or the key principals of either proposes to purchase, sell or finance any additional
healthcare or senior housing facilities, then Tenant and/or Guarantor shall first notify Landlord, and Landlord shall have ten (10) business
days to present to Tenant and/or Guarantor a proposal for the acquisition, lease, finance or operation of such additional facilities,
as appropriate.

 

    	40

     

    

 

24.19
Option to Purchase. Subject to the terms and conditions set forth in this Section 24.19, Landlord hereby grants to Tenant
an option (the “Purchase Option”) to purchase all, but not less than all, of the Facilities. Tenant may exercise the
Purchase Option by delivery of written notice (the “Election Notice”) to Landlord at any time during the Option Period.
Within thirty (30) days following Landlord’s receipt of the Election Notice, the parties shall sign the standard sale escrow instructions
of a national title company (mutually acceptable to Tenant and Landlord) that are in form and substance reasonably satisfactory to Landlord
and without representations or warranties, due diligence or other contingencies in favor of Tenant and Tenant shall deposit five percent
(5%) of the Option Facility Purchase Price with the title company, which may be retained by Landlord as liquidated damages solely for
any breach by Tenant of these terms or the escrow instructions (and which in no way shall liquidate or limit Landlord’s damages
by reason of any other breach of this Lease). The escrow shall close (the “Option Closing Date”) on the date indicated
in the Election Notice, which date may not be sooner than thirty (30) days after delivery of the Election Notice and may not be later
than the date that is sixty (60) days after delivery of the Election Notice. On such Option Closing Date, Tenant shall pay the Option
Purchase Price in cash and Landlord shall deliver to Tenant (x) a special warranty deed (or its equivalent) conveying the portion of
the Facilities consisting of the Land, Leased Improvements, Related Rights and Fixtures, subject only to the Permitted Encumbrances;
and (y) a bill of sale for that portion of the Facilities constituting the Intangibles and Landlord Personal Property, which bill of
sale shall be delivered without warranty or recourse of any kind. Tenant shall pay all title and escrow fees, recording fees, transfer
taxes and all other transaction costs arising from the sale of the Facilities to Tenant. If Tenant fails to close the escrow for any
reason other than a breach by Landlord, then Tenant’s right to the Purchase Option shall terminate, and Tenant shall have no further
rights under this Section 24.19.

 

(a)
The purchase price for the Facilities (the “Option Purchase Price”) shall equal the sum of: (i) the quotient
obtained by dividing (A) the monthly Base Rent in effect as of the date on which the Election Notice is delivered to Landlord
multiplied by twelve (12), by (B) 0.09, plus (ii) as reasonably calculated by Landlord, any accrued but unpaid straight line rent as
shown on Landlord’s books and records as of the Option Closing Date, plus (iii) the aggregate amount of any unpaid Deferred
Rent on the Option Closing Date.

 

(b)
The Purchase Option is personal to Tenant and Tenant shall have no right to exercise the Purchase Option, and Tenant’s Election
Notice will be ineffective, if an Event of Default shall have occurred and be continuing on or following the date Landlord receives the
Election Notice or the date on which the acquisition of the Option Facility pursuant to the Purchase Option is to close. Any termination
of this Lease or any Transfer (that has not been expressly consented to by Landlord), terminates all rights under this Section 24.19
and the Purchase Option is not assignable, separate and apart from this Lease.

 

(c)
As used herein, “Option Period” means the following periods of time: (i) January 1, 2022 through June 30, 2022; (ii) January
1, 2023 through June 30, 2023; (iii) January 1, 2024 through June 30, 2024; (iv) January 1, 2025 through June 30, 2025.

 

ARTICLE
XXV RIGHT OF FIRST OFFER

 

25.1
Right of First Offer. Except as otherwise specifically provided herein, in the event Landlord determines that it desires to
sell the Premises to a third party at any time during the Term, Landlord shall first offer in writing to enter into negotiations for
such sale with Tenant (a “Seller’s Notice”). If Tenant (in this context, “Buyer”) shall within
five (5) Business Days from receipt of a Seller’s Notice give Landlord written notice that it wishes to enter into good faith negotiations
for the purchase of the Premises (a “Notice of Interest”), Landlord and Buyer shall enter into good faith negotiations
for a period of fifteen (15) Business Days from Landlord’s receipt of the Notice of Interest (the “Negotiation Period”)
for the sale and purchase of the Premises. If during the Negotiation Period a written agreement with respect to the purchase and sale
of the Premises (a “ROFO Purchase Agreement”) is executed by Landlord and Buyer, Landlord shall sell and Buyer shall
purchase the Premises on the terms and conditions set forth in the ROFO Purchase Agreement. It is hereby agreed and acknowledged that
due to this Lease being a “master lease,” Tenant/Buyer must buy the entire Premises (i.e., all of the Facilities).

 

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25.2
Landlord’s Right to Market. If (a) a Notice of Interest is not given as set forth above, and Landlord in its sole discretion
continues to desire to sell the Premises then, for a period of one (1) year after the expiration of the time within which a Notice of
Interest was required to be given, or (b) a Notice of Interest is given but Landlord and Buyer do not execute a ROFO Purchase Agreement
during the Negotiation Period, and Landlord in its sole discretion continues to desire to sell the Premises, then for a period of one
(1) year from the expiration of the Negotiation Period, Landlord shall be free to sell Premises to any third party for a Cash Price that
is not less than ninety percent (90%) of a Cash Price offered by written notice to Landlord by Buyer during the Negotiation Period, free
from any claim of any right to purchase the Premises by Buyer, Guarantor or any Affiliate of Buyer or Guarantor (including, without limitation,
any subsequent rights under this Article XXV, which shall be of no further force or effect). For purposes of the preceding sentence,
a “Cash Price” shall be the amount to be received by Landlord in cash or equivalent upon the closing of the sale net
of prorations and expenses to be borne by Landlord (excluding commissions). If the Premises are not sold within such one (1) year period,
before entering into negotiations with any third party for the sale of the Premises, Landlord shall first offer to enter into negotiations
for the sale thereof to Buyer pursuant to the process described above.

 

25.3
Limitations on Right of First Offer. The foregoing right of first offer (a) is not assignable by Tenant except to an Affiliate
of Tenant, (b) shall simultaneously and automatically terminate upon termination of this Lease, (c) shall not under any circumstances
be extended, modified or in any way altered except by a writing executed by Landlord and Tenant and (d) shall not apply in the event
of (1) a merger transaction or sale by CareTrust REIT, Inc. involving all or substantially all of the assets of it and its subsidiaries,
(2) collateral security transfers in connection with any debt or equity financing, or transfers pursuant to a foreclosure or a deed in
lieu thereof, or (3) a sale or transfer to an Affiliate of Landlord or an Affiliate of CareTrust REIT, Inc. or a joint venture entity
in which CareTrust REIT, Inc. or its Affiliate is the managing member or partner. Tenant’s right hereunder to receive a Seller
Notice and to otherwise acquire the Premises pursuant to this Article XXV shall be conditioned on no Event of Default having occurred
and then be continuing, and the ROFO Purchase Agreement shall include as a closing condition in favor of Landlord that no Event of Default
occurs between the execution of the ROFO Purchase Agreement and the closing date thereunder.

 

[Signature
page follows]

 

    	42

     

    

 

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

 

TENANT:

 

GREENSIDE
HEALTHCARE PROPERTIES, LLC

a
Florida limited liability company

 

	By:	/s/
    Richard T. Mason	 
	Name:	Richard
    T. Mason	 
	Title:	Authorized
    Representative	 

 

[Signatures
continue on next page]

 

    	S-1

     

    

 

LANDLORD:

 

CTR
PARTNERSHIP, L.P.,

a
Delaware limited partnership

 

	By:	CareTrust
    GP, LLC,	 
	 	a
    Delaware limited liability company	 
	Its:	General Partner	 
	 	 	 
	By:	CareTrust
    REIT, Inc.,	 
	 	a
Maryland corporation	 
	Its:	Sole
    Member	 
	 	 	 
	By:	/s/
    Gregory K. Stapley	 
	Name:	Gregory
    K. Stapley	 
	Title:	President	 

 

    	S-2

     

    

 

JOINDER

 

Trillium
Healthcare Group, LLC, a Florida limited liability company, as Guarantor, hereby joins in this Lease for the limited purpose of assuming
and agreeing to be bound by the obligations contained in Sections 1.1, 6.5, 19.4 and 24.18. This Joinder shall become void concurrently
with the termination of the Guaranty as set forth in Section 3.1 of the Lease and as set forth in Section 12(n) of the Guaranty.

 

TRILLIUM
HEALTHCARE GROUP, LLC,

a
Florida Limited Liability Company

 

	By:	/s/
    G. Shayne Bench	 
	Name:
    	G.
    Shayne Bench	 
	Title:	Authorized
    Representative	 

 

    	Joinder-1

     

    

 

EXHIBIT
A

 

DEFINED
TERMS

 

For
all purposes of this Lease, except as otherwise expressly provided in the Lease or unless the context otherwise requires, the following
terms have the meanings assigned to them in this exhibit and include the plural as well as the singular:

 

“Accounts
Collateral” means, collectively, all of the following: (i) all of the accounts, accounts receivable, payment intangibles, health-care-insurance
receivables and any other right to the payment of money in whatever form, of any of the Tenant Sublessees, or any other indebtedness
of any Person owing to any of the Tenant Sublessees (whether constituting an account, chattel paper, document, instrument or general
intangible), whether presently owned or hereafter acquired, arising from the provision of merchandise, goods or services by any Tenant
Sublessee, or from the operations of any Tenant Sublessee at each Facility, including, without limitation, the right to payment of any
interest or finance charges and other obligations with respect thereto; (ii) all of the rights, titles and interests of any of the Tenant
Sublessees in, to and under all supporting obligations and all other liens and property subject thereto from time to time securing or
purporting to secure any such accounts, accounts receivable, payment intangibles, health-care insurance receivables or other indebtedness
owing to any of the Tenant Sublessees; (iii) all of the rights, titles and interests of any of the Tenant Sublessees in, to and under
all guarantees, indemnities and warranties, letter-of-credit rights, supporting obligations, insurance policies, financing statements
and other agreements or arrangements of whatever character from time to time supporting or securing payment of any such accounts, accounts
receivable, payment intangibles, health- care insurance receivables or other indebtedness owing to any of the Tenant Sublessees; (iv)
all of the now owned or hereafter acquired deposits of any of the Tenant Sublessees representing proceeds from accounts and any deposit
account into which the same may be deposited, all other cash collections and other proceeds of the foregoing accounts, accounts receivable,
payment intangibles, health-care insurance receivables or other indebtedness (including, without limitation, late charges, fees and interest
arising thereon, and all recoveries with respect thereto that have been written off as uncollectible), and all deposit accounts into
which the same are deposited; (v) all proceeds (whether constituting accounts, chattel paper, documents, instruments or general intangibles)
with respect to the foregoing; and (vi) all books and records with respect to any of the foregoing.

 

“Actual
Capital Expenditures Amount” has the meaning set forth in Section 7.6. “Additional Rent” has the meaning
set forth in Section 2.2.

 

“Adjusted
CPI Increase” means the actual CPI Increase as of the date of determination, not to exceed three percent (3%).

 

“Affiliate”
means with respect to any Person, any other Person which Controls, is Controlled by or is under common Control with the first Person.

 

“Agency
Lender” means any of: (i) the U.S. Department of Housing and Urban Development, (ii) the Federal National Mortgage
Association (Fannie Mae), or (iii) the Federal Home Loan Mortgage Corporation (Freddie Mac), or any designees, agents, originators,
or servicers of any of the foregoing.

 

“Agreed
Rate” means, on any date, a rate equal to five percent (5%) per annum above the then- applicable Lease Rate, but in no event
greater than the maximum rate then permitted under applicable law. Interest at the aforesaid rates shall be determined for actual days
elapsed based upon a 360 day year.

 

    	Exhibit A-1

     

    

 

“Alterations”
means, with respect to each Facility, any alteration, improvement, exchange, replacement, modification or expansion of the Leased Improvements
or Fixtures at such Facility.

 

“Authorization”
means, with respect to each Facility, any and all licenses, permits, certifications, accreditations, Provider Agreements, CONs, certificates
of exemption, approvals, waivers, variances and other governmental or “quasi-governmental” authorizations necessary or advisable
for the use of such Facility for its Primary Intended Use and receipt of reimbursement or other payments under any Third Party Payor
Program in which such Facility participates.

 

“Authorization
Collateral” means any Authorizations issued or licensed to, or leased or held by,

Tenant.

 

“Bankruptcy
Action” means, with respect to any Person, (i) such Person filing a voluntary petition under the Bankruptcy Code or any
other federal or state bankruptcy or insolvency law; (ii) the filing of an involuntary petition against such Person under the
Bankruptcy Code or any other federal or state bankruptcy or insolvency law which is not dismissed within sixty (60) days of the
filing thereof, or soliciting or causing to be solicited petitioning creditors for any involuntary petition against such Person;
(iii) such Person filing an answer consenting to or otherwise acquiescing in or joining in any involuntary petition filed against
it, by any other Person under the Bankruptcy Code or any other federal or state bankruptcy or insolvency law, or soliciting or
causing to be solicited petitioning creditors for any involuntary petition from any Person; (iv) such Person seeking, consenting to
or acquiescing in or joining in an application for the appointment of a custodian, receiver, trustee, or examiner for such Person or
any portion of the Facility; (v) such Person making an assignment for the benefit of creditors; or (vi) such Person taking any
action in furtherance of any of the foregoing.

 

“Bankruptcy
Code” means 11 U.S.C. § 101 et seq., as the same may be amended from time to time.

 

“Base
Rent” has the meaning set forth in Section 2.1.1.

 

“Bed
Taxes” means any bed taxes, franchise permit fees, or any other taxes or assessments levied or assessed by a state, county,
or other Governmental Authority (or quasi-Governmental Authority) in connection with a Facility’s beds.

 

“Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which national banks in the City of New
York, New York, are authorized, or obligated, by law or executive order, to close.

 

“Capital
Alterations” means any Alteration for which the budgeted cost exceeds Twenty-five Thousand Dollars ($25,000).

 

“Capital
Expenditures” mean, with respect to each Facility, repairs, replacements and improvements to such Facility (other than the
Landlord Personal Property) that (i) constitute capital expenditures in accordance with GAAP and (ii) have been completed in a good,
workmanlike and lien free fashion and in compliance with all Legal Requirements and the terms of Sections 7.4 and 7.5 applicable to any
Alterations. Capital Expenditures shall not include (a) expenses related to routine repairs and maintenance, (b) purchases of office
equipment, or (c) any other expenditures reasonably determined by Landlord to be inappropriately characterized as a “capital expenditure”.

 

“Capital
Expenditures Deposit” has the meaning set forth in Section 7.6.

 

    	Exhibit A-2

     

    

 

“Capital
Expenditures Report” has the meaning set forth in Section 7.6.

 

“Cash
Flow” shall mean the aggregate net income of Tenant attributable to the operation of the Facilities as reflected on the income
statement of Tenant, plus (i) the provision for depreciation and amortization in such income statement, plus (ii) the provision
for management fees in such income statement, plus (iii) the provision for income taxes in such income statement, plus
(iv) the provision for Base Rent payments and interest and lease payments, if any, relating to the Facilities in such income statement,
plus (v) the provision for any other non-operating items in such income statement, and minus

(vi)
an imputed management fee equal to five percent (5%) of gross revenues of the Facilities (net of contractual allowances).

 

“Change
in Control” means, as applied to any Person, a change in the Person that ultimately exerts effective Control over the first
Person.

 

“Closure
Notice” means a written notice delivered by Landlord to Tenant pursuant to which Landlord notifies Tenant that Tenant may commence
a Facility Termination as to a particular Facility or Facilities.

 

“CMS”
means the United States Department of Health, Centers for Medicare and Medicaid Services or any successor agency thereto.

 

“Code”
means the Internal Revenue Code of 1986 and, to the extent applicable, the Treasury Regulations promulgated thereunder, each as amended
from time to time.

 

“Commencement
Date” has the meaning set forth in Section 1.4.

 

“Communications
Leased Property” has the meaning set forth below in the definition of “Premises.”

 

“Communications
Leases” shall mean, collectively, (1) that certain Option to Lease and Site Lease Agreement, dated September 14, 2000 between
Brookings Municipal Utilities, as tenant, and Waverly-Casa De Paz, Inc., a Mississippi corporation, as landlord, (2) that certain Site
Lease with Option dated March 29, 2006 between Iowa Wireless Services, LLC, as tenant, and Waverly-Casa De Paz, Inc., a Mississippi corporation,
as landlord, and (3) that certain Site Lease Agreement dated September 28, 2001 between Waverly-Casa De Paz, Inc., a Mississippi corporation,
as lessor, and TeleCorp Realty, L.L.C., a Delaware limited liability company, as lessee. Tenant acknowledges receipt of copies of the
Communications Leases.

 

“Competing
Facility” means a skilled nursing facility, assisted living facility, memory care facility, independent living facility or
other health care facility providing services similar to those of the Primary Intended Use of any Facility, licensed or unlicensed, existing
or to be constructed that

(i)
competes in any direct or indirect way with, or is comparable in any way to, any Facility and (ii) is located within a 15-mile radius
of any Facility.

 

“Complete
Taking” means the Condemnation of all or substantially all of a Facility or a Condemnation that results in a Facility no longer
being capable of being operated for its Primary Intended Use.

 

“CON”
means, with respect to each Facility, a certificate of need or similar permit or approval (not including conventional building permits)
from a Governmental Authority related to (i) the construction and/or operation of such Facility for the use of a specified number of
beds in a nursing facility, assisted living facility, senior independent living facility and/or rehabilitation hospital, or (ii) the
alteration of such Facility or (iii) the modification of the services provided at such Facility used as a nursing facility, assisted
living facility, senior independent living facility and/or rehabilitation hospital.

 

    	Exhibit A-3

     

    

 

“Condemnation”
means the exercise of any governmental power, whether by legal proceedings or otherwise, by a Condemnor or a voluntary sale or transfer
by Landlord to any Condemnor, either under threat of condemnation or while legal proceedings for condemnation are pending.

 

“Condemnor”
means any public or quasi-public authority, or private corporation or individual, having the power of condemnation.

 

“Contingent
Obligation” means any direct or indirect liability of Tenant: (i) with respect to any Debt of another Person; (ii) with respect
to any undrawn portion of any letter of credit issued for the account of Tenant as to which Tenant is otherwise liable for the reimbursement
of any drawing; (iii) to make take-or-pay or similar payments if required regardless of nonperformance by any other party or parties
to an agreement; or (iv) for any obligations of another Person pursuant to any guaranty or pursuant to any agreement to purchase, repurchase
or otherwise acquire any obligation or any property constituting security therefor, to provide funds for the payment or discharge of
such obligation or to preserve the solvency, financial condition or level of income of another Person. The amount of any Contingent Obligation
shall be equal to the amount of the obligation so guarantied or otherwise supported or, if not a fixed and determinable amount, the maximum
amount so guarantied or otherwise supported.

 

“Control”,
together with the correlative terms “Controlled” and “Controls,” means, as applied to any Person,
the possession, directly or indirectly, of the power to direct the management and policies of that Person, whether through ownership,
voting control, by contract or otherwise.

 

“CPI”
means the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban Wage Earners and Clerical
Workers, United States Average, Subgroup “All Items” (1982 - 1984 = 100). If the foregoing index is discontinued or revised
during the Term, the governmental index or computation with which it is replaced shall be used to obtain substantially the same result
as if such index had not been discontinued or revised.

 

“CPI
Increase” means the percentage increase (but not decrease) in (i) the CPI published for the beginning of each Lease Year, over
(ii) the CPI published for the beginning of the immediately preceding Lease Year.

 

“Current
Operator” has the meaning set forth in Section Error! Reference source not found..

 

“Debt”
For any Person, without duplication: (i) all indebtedness of such Person for borrowed money, for amounts drawn under a letter of credit
or for the deferred purchase price of property for which such Person or its assets is liable; (ii) all unfunded amounts under a loan
agreement, letter of credit or other credit facility for which such Person would be liable if such amounts were advanced thereunder;
(iii) all amounts required to be paid by such Person as a guaranteed payment to partners or a preferred or special dividend, including
any mandatory redemption of shares or interests; (iv) all indebtedness guaranteed by such Person, directly or indirectly; (v) all obligations
under leases that constitute capital leases for which such Person is liable; (vi) all obligations of such Person under interest rate
swaps, caps, floors, collars and other interest hedge agreements, in each case whether such Person is liable contingently or otherwise,
as obligor, guarantor or otherwise, or in respect of which obligations such Person otherwise assures a creditor against loss; (vii) off-balance
sheet liabilities of such Person; and (viii) obligations arising under bonus, deferred compensation, incentive compensation or similar
arrangements, other than those arising in the Ordinary Course of Business.

 

    	Exhibit A-4

     

    

 

“Environmental
Activities” mean, with respect to each Facility, the use, generation, transportation, handling, discharge, production, treatment,
storage, release or disposal of any Hazardous Materials at any time to or from such Facility or located on or present on or under such
Facility.

 

“Event
of Default” has the meaning set forth in Section 13.1.

 

“Excess
Capital Expenditures Amount” has the meaning set forth in Section 7.6.

 

“Expiration
Date” means the Initial Expiration Date, as may be extended pursuant to Section 1.4.

 

“Extension
Notice” has the meaning set forth in Section 1.4. “Extension Term” has the meaning set forth in Section
1.4.

“Facility”
means each healthcare facility located on the Premises, as identified on Schedule 1 attached hereto, including, where the context
requires, the Land, Leased Improvements, Intangibles and Landlord Personal Property associated with such healthcare facility.

 

“Facility
Default” means an Event of Default that relates directly to one or more of the Facilities (such as, for example only and without
limitation, an Event of Default arising from a failure to maintain or repair, or to operate for the Primary Intended Use, or to maintain
the required Authorizations for, one or more of the Facilities), as opposed to an Event of Default that, by its nature, does not relate
directly to any of the Facilities.

 

“Facility
Mortgage” means any mortgage, deed of trust or other security agreement or lien encumbering any Facility and securing an indebtedness
of Landlord or any Affiliate of Landlord or any ground, building or similar lease or other title retention agreement to which any Facility
are subject from time to time.

 

“Facility
Mortgage Documents” means with respect to each Facility Mortgage and Facility Mortgagee, the applicable Facility Mortgage,
loan or credit agreement, lease, note, collateral assignment instruments, guarantees, indemnity agreements and other documents or instruments
evidencing, securing or otherwise relating to the loan made, credit extended, lease or other financing vehicle pursuant thereto. Facility
Mortgage Documents shall also include, without limitation, any documents typically required by any Agency Lender in connection with a
Facility Mortgage, including, but not limited to: (i) tenant regulatory agreements, (ii) intercreditor agreements with any receivables
lender of Tenant, and (iii) any subordination, assignment, and security agreements.

 

“Facility
Mortgagee” means the holder or beneficiary of a Facility Mortgage and any other rights of the lender, credit party or lessor
under the applicable Facility Mortgage Documents, including, without limitation, any Agency Lender.

 

“Facility
Removal Date” has the meaning set forth in Section 13.2.5. “Facility Termination” has the meaning set forth
in Section 14.2.5.

 

“Facilities
Transition Agreement” shall mean that certain Facilities Transition Agreement dated as of August ___ , 2019 by and between
Landlord and Tenant.

 

    	Exhibit A-5

     

    

 

 

 

“Fair
Market Rental” means the fair market rent for the Premises as determined pursuant to Exhibit E.

 

“Fair
Market Value” means the fair market value of a Facility as determined pursuant to Exhibit E.

 

“Fixtures”
means all equipment, machinery, fixtures and other items of real and/or personal property, including all components thereof, now and
hereafter located in, on, or used in connection with and permanently affixed to or incorporated into the Leased Improvements, including
all furnaces, boilers, heaters, electrical equipment, heating, plumbing, lighting, ventilating, refrigerating, incineration, air and
water pollution control, waste disposal, air-cooling and air-conditioning systems, apparatus, sprinkler systems, fire and theft protection
equipment and built-in oxygen and vacuum systems, all of which, to the greatest extent permitted by law, are hereby deemed to constitute
real estate, together with all replacements, modifications, alterations and additions thereto.

 

“GAAP”
means generally accepted accounting principles, consistently applied.

 

“Governmental
Authority” means any court, board, agency, commission, bureau, office or authority or any governmental unit (federal, state,
county, district, municipal, city or otherwise) and any regulatory, administrative or other subdivision, department or branch of the
foregoing, whether now or hereafter in existence, including, without limitation, CMS, the United States Department of Health and Human
Services, any state licensing agency or any accreditation agency or other quasi-governmental authority.

 

“Governmental
Payor” means any state or federal health care program providing medical assistance, health care insurance or other coverage
of health care items or services for eligible individuals, including but not limited to the Medicare program more fully described in
Title XVIII of the Social Security Act (42 U.S.C. §§ 1395 et seq.) and the Medicaid program more fully described in
Title XIX of the Social Security Act (42 U.S.C. §§ 1396 et seq.) and the regulations promulgated thereunder.

 

“Guarantor”
has the meaning set forth in Recital B, together with any and all permitted successors and assigns of the Guarantor originally named
herein and any additional Person that guaranties the obligations of Tenant hereunder, from time to time.

 

“Guaranty”
has the meaning set forth in the Recitals to this Agreement.

 

“Hazardous
Materials” mean (i) any petroleum products and/or by-products (including any fraction thereof), flammable substances, explosives,
radioactive materials, hazardous or toxic wastes, substances or materials, known carcinogens or any other materials, contaminants or
pollutants which pose a hazard to any Facility or to Persons on or about any Facility or cause any Facility to be in violation of any
Hazardous Materials Laws; (ii) asbestos in any form which is friable; (iii) urea formaldehyde in foam insulation or any other form; (iv)
transformers or other equipment which contain dielectric fluid containing levels of polychlorinated biphenyls in excess of fifty (50)
parts per million or any other more restrictive standard then prevailing; (v) medical wastes and biohazards; (vi) radon gas; and (vii)
any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any governmental authority or may
or could pose a hazard to the health and safety of the occupants of any Facility or the owners and/or occupants of property adjacent
to or surrounding any Facility, including, without limitation, any materials or substances that are listed in the United States Department
of Transportation Hazardous Materials Table (49 CFR 172.101) as amended from time to time.

 

    	Exhibit A-6

     

    

 

“Hazardous
Materials Laws” mean any laws, ordinances, regulations, rules, orders, guidelines or policies relating to the environment,
health and safety, Environmental Activities, Hazardous Materials, air and water quality, waste disposal and other environmental matters.

 

“Hazardous
Materials Claims” mean any and all enforcement, clean-up, removal or other governmental or regulatory actions or orders threatened,
instituted or completed pursuant to any Hazardous Material Laws, together with all claims made or threatened by any third party against
any Facility, Landlord or Tenant relating to damage, contribution, cost recovery compensation, loss or injury resulting from any Hazardous
Materials.

 

“Impositions”
means any property (real and personal) and other taxes and assessments levied or assessed with respect to this Lease, any Facility, Tenant’s
interest therein or Landlord, with respect to any Facility, including, without limitation, any state or county occupation tax, transaction
privilege, franchise taxes, margin taxes, business privilege, rental tax or other excise taxes. Notwithstanding the foregoing, Impositions
shall not include any local, state or federal income tax based upon the net income of Landlord and any transfer tax or stamps arising
from Landlord’s transfer of any interest in any Facility.

 

“Improvement
Funds” has the meaning set forth in Section 7.7.

 

“Initial
Expiration Date” has the meaning set forth in Section 1.4.

 

“Initial
Term” has the meaning set forth in Section 1.4.

 

“Insurance
Requirements” mean all terms of any insurance policy required by this Lease and all requirements of the issuer of any such
policy, together with all fire underwriters’ regulations promulgated from time to time.

 

“Intangibles”
means the interest, if any, of Landlord in and to any of the following intangible property owned by Landlord in connection with the Land
and the Leased Improvements: (i) the identity or business of each Facility as a going concern, including, without limitation, any names
or trade names by which each Facility may be known, and all registrations for such names, if any; (ii) to the extent assignable or transferable,
the interest, if any, of Landlord in and to each and every guaranty and warranty concerning the Leased Improvements or Fixtures, including,
without limitation, any roofing, air conditioning, heating, elevator and other guaranty or warranty relating to the construction, maintenance
or repair of the Leased Improvements or Fixtures; and (iii) the interest, if any, of Landlord in and to all Authorizations to the extent
the same can be assigned or transferred in accordance with applicable law; provided, however, that the foregoing shall not include any
CON issued to or held by Landlord which shall only be licensed to Tenant on a temporary basis, which license shall be revocable at any
time by Landlord.

 

“Issuer”
means the financial institution that, from time to time, has issued a Letter of Credit. “Issuer Revocation” means
that an Issuer shall fail to be in compliance with all of the Issuer Standards,
or shall admit in writing its inability to pay its debts generally as they become due, shall file a petition in bankruptcy or a petition
to take advantage of any insolvency statute, shall consent to the appointment of a receiver or conservator of itself or the whole or
any substantial part of its property, shall file a petition or answer seeking reorganization or arrangement under the federal bankruptcy
laws, shall have a receiver, conservator or liquidator appointed for it (including an FDIC receiver, conservator or liquidator), or shall
become subject to operational supervision by any federal or state regulatory authority.

 

    	Exhibit A-7

     

    

 

“Issuer
Standards” mean that the Issuer: (i) has at the time of determination net worth, as determined in accordance with GAAP, in
excess of Five Hundred Million Dollars ($500,000,000.00); and (ii) has
a current long-term credit rating from at least two (2) nationally recognized statistical rating organizations (such as Standard &
Poor’s, Moody’s Investor Services or Fitch Ratings) equivalent to or greater than A-/A3.

 

“Land”
means, individually and collectively, the real property described in Exhibit B attached to this Lease.

 

“Landlord”
has the meaning set forth in the opening preamble, together with any and all successors and assigns of the Landlord originally named
herein.

 

“Landlord
Personal Property” means the machinery, equipment, furniture and other personal property described in Exhibit C attached
to this Lease, together with all replacements, modifications, alterations and substitutes thereof (whether or not constituting an upgrade).

 

“Landlord
Indemnified Parties” means Landlord’s Affiliates and Landlord’s and its Affiliates’ agents, employees, owners,
partners, members, managers, contractors, representatives, consultants, attorneys, auditors, officers and directors.

 

“Landlord’s
Representatives” means Landlord’s agents, employees, contractors, consultants, attorneys, auditors, architects and other
representatives.

 

“LC
Amount” has the meaning set forth in Section 3.2.

 

“Lease”has
the meaning set forth in the opening preamble.

 

“Lease
Rate” means the quotient obtained by dividing (a) the then annual Base Rent under this Lease, by (b) the aggregate amount of
Landlord’s investment in the Premises.

 

“Lease
Year” means: (i) with respect to the first (1st) Lease Year, the period from the Commencement Date through July
31, 2020, and (ii) each successive period of twelve (12) calendar months thereafter during the Term.

 

“Leased
Improvements” means all buildings, structures and other improvements of every kind now or hereafter located on the Land including,
alleyways and connecting tunnels, sidewalks, utility pipes, conduits, and lines (on-site and off-site to the extent Landlord has obtained
any interest in the same), parking areas and roadways appurtenant to such buildings and structures.

 

“Legal
Requirements” means all federal, state, county, municipal and other governmental statutes, laws (including common law and Hazardous
Materials Laws), rules, policies, guidance, codes, orders, regulations, ordinances, permits, licenses, covenants, conditions, restrictions,
judgments, decrees and injunctions applicable to Tenant or affecting any Facility or the applicable Tenant Personal Property or the maintenance,
construction, use, condition, operation or alteration thereof, whether now or hereafter enacted and in force, including, any and all
of the foregoing that relate to the use of each Facility for its Primary Intended Use.

 

“Letter
of Credit” means an unconditional, irrevocable, standby letter of credit in the form of Exhibit F, naming Landlord as
beneficiary, and issued by an Issuer that satisfies the Issuer Standards and is otherwise acceptable to Landlord in its commercially
reasonable discretion.

 

    	Exhibit A-8

     

    

 

“Licensing
Impairment” means, with respect to each Facility, (i) the revocation, suspension or non-renewal of any Authorization, (ii)
any withholding, non-payment, reduction or other adverse change respecting any Provider Agreement, (iii) any admissions hold under any
Provider Agreement, or (iv) any other act or outcome similar to the foregoing that would impact Tenant’s ability to continue to
operate such Facility for its Primary Intended Use or to receive any rents or profits therefrom.

 

“Limited
Termination Election” has the meaning set forth in Section 13.2.5.

 

“Losses”
mean all claims, demands, expenses, actions, judgments, damages, penalties, fines, liabilities, losses of every kind and nature, suits,
administrative proceedings, costs and fees, including, without limitation, reasonable attorneys’ and reasonable consultants’
fees and expenses.

 

“Material
Alterations” mean any Alterations that (i) would materially enlarge or reduce the size of the applicable Facility, (ii) would
tie in or connect with any improvements on property adjacent to the applicable Land, or (iii) would affect the structural components
of the applicable Facility or the main electrical, mechanical, plumbing, elevator or ventilating and air conditioning systems for such
Facility in any material respect.

 

“Minimum
Rent Coverage Ratio” shall mean a Portfolio Coverage Ratio of 1.30 to 1.00. “OFAC” has the meaning set forth
in Section 10.2.1.

“Operational
Transfer” has the meaning set forth in Section 14.2.1.

 

“Ordinary
Course of Business” means In respect of any transaction involving Tenant, the ordinary course of business of Tenant, as conducted
by Tenant in accordance with past practices. In respect of any transaction involving a Facility or the operations thereof, the ordinary
course of operations for such Facility, as conducted by Tenant in accordance with past practices.

 

“OTA”
has the meaning set forth in Section Error! Reference source not found..

 

“Partial
Taking” means any Condemnation of a Facility or any portion thereof that is not a Complete Taking.

 

“Payment
Date” means any due date for the payment of the installments of Base Rent or any other sums payable under this Lease.

 

“Permitted
Contingent Obligations” means each of the following: (i) Contingent Obligations arising in respect of Tenant’s obligations
under this Lease; (ii) Contingent Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business;
(iii) Contingent Obligations incurred in the Ordinary Course of Business with respect to surety and appeal bonds, performance bonds and
other similar obligations not to exceed, with respect to any particular Tenant, $50,000 in the aggregate at any time outstanding; (iv)
Contingent Obligations arising with respect to customary indemnification obligations in favor of purchasers in connection with dispositions
of personal property assets permitted under this Lease; and (v) other Contingent Obligations not permitted by clauses (i) through (iv)
above, not to exceed, with respect to each Tenant, $100,000 in the aggregate at any time outstanding.

 

“Permitted
Debt” means the following: (i) the obligations of Tenant under this Lease, (ii) subject to Section 20.2, accounts receivable
financing, and (iii) trade accounts payable arising and paid on a timely basis in the Ordinary Course of Business.

 

    	Exhibit A-9

     

    

 

“Permitted
Encumbrances” means, with respect to each Facility, collectively, (i) all easements, covenants, conditions, restrictions, agreements
and other matters with respect to such Facility that (a) are of record as of the Commencement Date (or were of record as of the commencement
date under the Prior Lease), (b) Landlord entered into after the Commencement Date (subject to the terms hereof); or (c) are specifically
consented to in writing by Landlord, (ii) any liens for Impositions that are not yet due and payable; (iii) occupancy rights of residents
and patients of such Facility; and (iv) liens of mechanics, laborers, materialman, suppliers or vendors for sums not yet due, provided
that such reserve or other appropriate provisions as shall be required by law or GAAP or pursuant to prudent commercial practices shall
have been made therefor.

 

“Person”
means any individual, partnership, association, corporation, limited liability company or other entity.

 

“Plans
and Specifications” has the meaning set forth in Section 7.5.1.

 

“Portfolio
Coverage Ratio” means, as determined on a Testing Date based on the applicable period of determination or measurement, the
ratio of (i) the Cash Flow for all of the Facilities for the applicable period to (ii) Base Rent payments relating to such Facilities
payable under this Lease for the applicable period.

 

“Premises”
means, collectively, the Land, Leased Improvements, Related Rights, Fixtures, Intangibles and Landlord Personal Property; provided, however,
“Premises” shall not include the property leased pursuant to the Communications Leases (the “Communications Leased
Property”).

 

“Premises
Condition Report” has the meaning set forth in Section 7.2.

 

“Primary
Intended Use” means, as to each Facility, the type of healthcare facility corresponding to such Facility as shown on Schedule
1 attached hereto, with no less than the number of licensed beds as shown on Schedule 1 and for ancillary services relating
thereto.

 

“Prior
Lease” means that certain Master Lease dated as of May 12, 2015 by and between Landlord and Tenant, as amended by that certain
First Amendment to Master Lease dated as of January 21, 2016, as further amended by that certain Second Amendment to Master Lease dated
as of March 31, 2016, as further amended by that certain Third Amendment to Master Lease dated as of November 2, 2017, and as further
amended by that certain Fourth Amendment to Master Lease dated as of July 1, 2018. The Prior Lease was terminated effective as of July
15, 2019.

 

“Prohibited
Persons” has the meanings set forth in Section 10.2.1.

 

“Property
Collateral” means all of Tenant’s right, title and interest in and to the Tenant Personal Property and any and all products,
rents, proceeds and profits thereof in which Tenant now owns or hereafter acquires an interest or right.

 

“Provider
Agreements” means any agreements issued to or held by Tenant pursuant to which any Facility is licensed, certified, approved
or eligible to receive reimbursement under any Third Party Payor Program.

 

“Real
Property Impositions” mean: (i) any real property Impositions secured by a lien encumbering any Facility or any portion thereof
and (ii) any Bed Taxes.

 

“Reimbursement
Period” has the meaning set forth in Section 14.2.4.

 

    	Exhibit A-10

     

    

 

“Related
Rights” means all easements, rights and appurtenances relating to the Land and the Leased Improvements.

 

“Rent”
means, collectively, Base Rent and Additional Rent.

 

“Request
for Advance” has the meaning set forth in Section 7.7.

 

“Required
Authorizations” shall mean, with respect to each Facility, such consents, approvals and other assurances, oral or written,
as are, under local custom and practice, customarily obtained from State licensing authorities by reasonable operators of facilities
like such Facility, acting in good faith, before such an operator takes possession of, and begins to operate, a facility like such Facility.
By way of example and without limitation of the foregoing, if Tenant receives permission from the applicable State licensing authorities
to assume operational control of a Facility prior to the issuance of a non-provisional or non-conditional license for that Facility (e.g.,
due to a State licensing authority’s requirement that a survey of Tenant’s operations at such Facility be completed prior
to the issuance of a non-provisional or non-conditional license) and, under local custom and practice, reasonable operators of facilities
like such Facility customarily take possession of, and begin to operate, facilities like such Facility on the basis of such permission,
then the date of such permission would be treated as the date that Tenant obtained the Required Authorizations with respect to that Facility.

 

“Required
Authorizations Applications” has the meaning set forth in Section Error!

Reference
source not found..

 

“Required
Capital Expenditures Amount” has the meaning set forth in Section 7.6.

 

“Required
Per Bed Annual Capital Expenditures Amount” means five hundred dollars ($500) per licensed bed per Lease Year that Tenant is
required to expend on Capital Expenditures with respect to each Facility.

 

“Security
Deposit” shall have the meaning set forth in Section 3.1.

 

“Situs
State” means the state or commonwealth where a Facility is located.

 

“Temporary
Taking” means any Condemnation of a Facility or any portion thereof, whether the same would constitute a Complete Taking or
a Partial Taking, where the Condemnor or its designee uses or occupies such Facility, or any portion thereof, for no more than twelve
consecutive (12) months.

 

“Tenant”
has the meaning set forth in the opening preamble, together with any and all permitted successors and assigns of the Tenant originally
named herein.

 

“Tenant
Personal Property” shall have the meaning set forth in Section 6.1.

 

“Tenant
Sublessees” mean Tenant, and any direct or indirect subtenants or operator of any Facility, together with their successors
and assigns and any additions thereto or replacements thereof.

 

“Term”
means the Initial Term, plus any duly authorized Extension Terms.

 

“Terminated
Facilities” has the meaning set forth in Section 13.2.5.

 

“Termination
Notice” has the meaning set forth in Section 13.2.5.

 

    	Exhibit A-11

     

    

 

“Testing
Date” means the date as of which the Portfolio Coverage Ratio shall be determined for the applicable measurement period, which
date shall be the last day of each calendar quarter during the Term. Upon each Testing Date, the Portfolio Coverage Ratio shall be determined
based upon the twelve trailing calendar months ending on such Testing Date. Notwithstanding anything in this Lease to the contrary, the
first Testing Date shall be the last day of the first full calendar quarter following the first day of the second Lease Year.

 

“Third
Party Payor Programs” shall mean any third party payor programs pursuant to which healthcare facilities qualify for payment
or reimbursement for medical or therapeutic care or other goods or services rendered, supplied or administered to any admittee, occupant,
resident or patient by or from any Governmental Authority, Governmental Payor, bureau, corporation, agency, commercial insurer, non-public
entity, “HMO,” “PPO” or other comparable party.

 

“Transfer”
means any of the following, whether effectuated directly or indirectly, through one or more step transactions or tiered transactions,
voluntarily or by operation of law, (i) assigning, conveying, selling, pledging, mortgaging, hypothecating or otherwise encumbering,
transferring or disposing of all or any part of this Lease or Tenant’s leasehold estate hereunder, (ii) subletting of all or any
part of any Facility; (iii) engaging the services of any Person for the management or operation of all or any part of any Facility; (iv)
conveying, selling, assigning, transferring, pledging, hypothecating, encumbering or otherwise disposing of any stock, partnership, membership
or other interests (whether equity or otherwise) in Tenant, Guarantor or any Person that Controls Tenant or any Guarantor, if such conveyance,
sale, assignment, transfer, pledge, hypothecation, encumbrance or disposition results, directly or indirectly, in a Change in Control
of Tenant or Guarantor (or of such controlling Person); (v) merging or consolidating Tenant, Guarantor, or any Person that Controls Tenant
or Guarantor with or into any other Person, if such merger or consolidation, directly or indirectly, results in a Change in Control of
Tenant or Guarantor (or in such controlling Person); (vi) dissolving Tenant or Guarantor or any Person that Controls Tenant or Guarantor;
(vii) selling, conveying, assigning, or otherwise transferring all or substantially all of the assets of Tenant, Guarantor or any Person
that Controls Tenant or Guarantor; (viii) selling, conveying, assigning or otherwise transferring any of the assets of Tenant or Guarantor,
if the consolidated net worth of Tenant or Guarantor immediately following such transaction is not at least equal to the consolidated
net worth of Tenant or Guarantor, as applicable, as of the Commencement Date; (ix)
assigning, conveying, selling, pledging, mortgaging, hypothecating or otherwise encumbering, transferring or disposing of any Authorization;
or (ix) entering into or permitting to be entered into any agreement or arrangement to do any of the foregoing or granting any option
or other right to any Person to do any of the foregoing, other than to Landlord under this Lease. For purposes hereof, Guarantor shall
be deemed a Person that Controls Tenant, whether or not the same is true.

 

“Transition
Notice” shall have the meaning set forth in Section 14.2.1.

 

    	Exhibit A-12

     

    

 

EXHIBIT
B

 

DESCRIPTION
OF THE LAND

[see
attached]

 

Note:
The Land shall not include the Communications Leased Property.

 

[See
next page]

 

    	Exhibit B-1

     

    

 

 

    	Exhibit B-2

     

    

 

 

    	Exhibit B-3

     

    

 

Casa
de Paz Health Care Center

 

All
that part of the Northwest Quarter (NW1/4) of the Southeast Quarter (SE1/4) of Section Nineteen (19), Township Eighty-nine (89) North,
Range Forty-seven (47) West of the 5th Principal Meridian, Sioux City, Woodbury County, Iowa, described as follows:

 

Commencing
at the center of said Section 19; thence East along the North line of the NW1/4 of the said SE1/4, for a distance of 955.18 feet to the
place of beginning; thence continuing East along the said North line for a distance of 356.82 feet to the Northeast corner of said Quarter
Quarter; thence South and along the East line of said Quarter Quarter for a distance of 439.4 feet to the North line of the East and
West vacated alley in Block 12, Hubbard Place, an addition to Sioux City, Iowa; thence West along said line and said line projected for
a distance of 153.2 feet to the West line of vacated John Street, as platted in said addition; thence South along said West line for
166.0 feet to the North line of West 19th Street; thence West along said Street line for a distance of 216.2 feet to a point 940 feet
East of the West line of the said SE1/4; thence with an angle to the right of 92 degrees 42’18” for 202.16 feet; thence with
an angle to the left of 11 degrees 46’12” for 102.68 feet; thence with an angle to the right of 18 degrees 26’18”
for 304.33 feet to the place of beginning.

 

Denison
Care Center

 

Land
situated in the City of Denison, in the County of Crawford, State of Iowa, described as: Commencing at the intersection of the South
line of the Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4) of Section One (1), Township Eighty-three (83) North, Range Thirtynine
(39), west of the 5th Principal Meridian, Crawford County, Iowa and the Easterly right of way line of Ridge Road, said point being the
Northwest Corner of Lot 89 6th Ridgeway Addition to the City of Denison, Iowa, thence North 37 degrees 04’ East 104.41 feet along
said right of way, thence Northeasterly along said right of way 185.59 feet along a 1,925.9 foot radius curve concave Southeasterly with
a long chord bearing North 39 degrees 49’ 39” East 185.52 feet to the point of beginning, thence continuing Northeasterly
along said right of way 307.41 feet along a 1,925.9 foot radius curve concave Southeasterly with a long chord bearing North 47 degrees
09’38” East 307.08 feet, thence North 51 degrees 44’ East 73.0 feet along said right of way, thence South 38 degrees
16’ East 374.22 feet, thence South 00 degrees 00’ East 185.98 feet to a point on the South line of said Southeast Quarter
of the Northwest Quarter (SE1/4 NW1/4) thence South 90 degrees 00’ West 331.0 feet along the South line of said Southeast Quarter
of the Northwest Quarter (SE1/4 NW1/4) to a point 365.0 feet East of the Northwest Corner of said Lot 89, thence North 39 degrees 03’45”
West 290.79 feet to the point of beginning.

 

    	Exhibit B-4

     

    

 

Garden
View Care Center

 

All
of that certain tract or parcel of land located in the City of Shenandoah, Page County, Iowa, and being more particularly described as
follows:

 

East
441 1⁄2 feet of North 347 feet of West 30 rods of East 40 rods (Subject to Easement in Book 302 at Page 518 on North 50 feet thereof
for street purposes), and West 20 feet of North 397 feet of East 10 rods, all in West Half of Northwest Quarter of Section 30, Township
69 North, Range 39 West of 5th P.M., In City of Shenandoah, Page County, Iowa.

 

Grandview
Health Care Center

 

Land
situated in the County of Webster, State of Iowa, described as:

 

A
tract of land in the Northwest Quarter (NW 1⁄4) of the Northwest Quarter (NW 1/4) of Section Thirteen (13), in Township Eighty-six
(86) North, of Range Twenty-eight (28), West of the 5th P.M., Webster County, Iowa described as follows: Commencing at the Northwest
corner of Section Thirteen (13), Township Eighty-six (86) North, Range Twenty-eight (28) West; thence, South 88 degrees 31’42”
East, along the North line of the Northwest Quarter (NW 1⁄4) of said Section Thirteen (13), 416.00 feet; thence South 01 degrees
28’18” West, 33.00 feet to the point of beginning, said point also being the intersection of the East right-of-way line of
Second Street Northeast and the South right-of-way line of county road; thence South 88 degrees 31’ 42” East, 243.00
feet along the South right-of-way line of county road to the intersection of the West right- of-way line of Third Street Northeast; thence
South 00 degrees 00’ 13” West 346.36 feet as field measured (346.75 feet platted); thence North 88 degrees 19’ 40”
West, 243.00 feet to the East right-of-way line of Second Street Northeast, thence North 00 degrees 00’00” East, 345.50 feet
as field measured (346.06 feet platted) to the point of beginning.

 

Also
known as Lot 5, Northeast Dayton, Auditor’s Plat for taxation purposes, the North half (1/2) of the Northwest Quarter (NW 1⁄4)
of the Northwest Quarter (NW 1⁄4), of Section 13, T86N, R28W of the 5th P.M., Webster County, Iowa.

 

    	Exhibit B-5

     

    

 

Grundy
Care Center

 

A
tract of land in the East half of the Southwest Quarter (E1/2SW1/4) of Section 7, Township 87 North, Range 16 West of the 5th P.M., in
Grundy County, Iowa, more particularly described as follows:

 

Commencing
at the Northeast corner of Block 4 of Ady’s First Addition to the Town (now City) of Grundy Center, Iowa; thence East to a point
60 feet East of the West line of the East Half of the Southwest Quarter (E1/2SW1/4) of Section 7, Township 87 North, Range 16 West of
the 5th P.M. which is the Point of Beginning; thence East 330 feet; thence South 280 feet; thence West 330 feet; thence North
280 feet to the Point of Beginning.

 

Iowa
City Rehab and Health Care Center

 

Parcel
1:

 

Commencing
as a point of reference at the intersection of the West line of the Northwest Quarter of Section 7, Township 79 North, Range 5 West of
the Fifth Principal Meridian, Johnson County, Iowa and the center line of Cassady’s Relocation of Williamson and Jayne Roads, also
designated Old Iowa State Highway No. One; thence North 75 Degree 52 Minutes East, 807.3 feet, along the centerline of said Highway No.
One to a point; thence South 0 degrees 39 Minutes West, 296.77 feet to the point of beginning; thence South 0 Degrees 39 Minutes West
404.0 feet: thence South 89 Degrees 21 Minutes East 432.0 feet, thence
North 0 Degrees 39 Minutes East, 404.0 feet: thence North 89 Degrees 21 Minutes West, 432.0 feet to the point of beginning.

 

Parcel
2:

 

Non-Exclusive
easement for ingress and egress created by Agreement recorded December 15, 1969 in Book 344, Page 142 described as follows:

 

Commencing
as a point of references at the intersection of the West line of the Northwest Quarter of Section 7, Township 79 North, Range 5 West
of the Fifth Principal Meridian, Johnson County, Iowa and the centerline of Cassady’s Relocation of Williamson and Jayne Road,
also designated Old Iowa Highway No. One; thence N 75 Degrees 52 Minutes East, 807.3 feet along the centerline of said Highway No. One
to a point; thence South 0 Degrees 39 Minutes West, 296.77 feet; thence South 89 Degrees 21 Minutes East, 70.0 feet to the point of beginning;
thence North 0 Degrees 39 Minutes East, 281.11 feet to the Southerly line of Old State Highway No. One; thence North 75 Degrees 52 Minutes
East, 62.05 feet; thence South 0 Degrees 39 Minutes West, 296.94 feet; thence North 89 Degrees 21 Minutes West, 60.0 feet to the point
of beginning.

 

    	Exhibit B-6

     

    

 

Lenox
Care Center

 

Lots
1, 2 and 3 of Wiand’s Addition No.1 in the Town of Lenox, Taylor County, Iowa.

 

Osage
Rehabilitation and Health Care Center

 

THE
WEST HALF OF LOT 58 EXCEPT THE NORTH 70 FEET IN THE SOUTHEAST QUARTER OF SECTION 26, TOWNSHIP 98 NORTH, RANGE 17 WEST OF THE 5TH P.M.,
SAID LOT BEING NUMBERED ACCORDING TO THE IRREGULAR SURVEY OF SAID SOUTHEAST QUARTER IN MITCHELL COUNTY, IOWA.

 

Pleasant
Acres Care Center

 

Lot
6, except the North 150 feet thereof, and Lot 7, Adam’s Addition, in the Incorporated City of Hull, Sioux County, Iowa.

 

Cedar
Falls Facility

 

Parcel
One:

 

That
part of the Southwest Quarter of Section No. 11, Township No. 89 North, Range No. 14 West of the Fifth Principal Meridian, in the City
of Cedar Falls, Black Hawk County, Iowa described as follows:

 

Beginning
at the intersection of the South line of the North 400 feet of the Southeast Quarter of the said Southwest Quarter with the West Right
of Way line of Hudson Road (now established); thence South 89 degrees 22’ 44” West 307.80 feet along said South line; thence
North 00 degrees 39’ 38” West 298.86 feet; thence South 89 degrees 33’ 23” West 56.09 feet; thence North 00 degrees
39’ 38” West 128.61 feet to the Southerly line of Eighth Street; thence Easterly along a curve concave Southerly 30.06 feet
having a radius of 170 feet and a chord of North 84 degrees 14’ 42” East 30.03 feet; thence North 89 degrees 26’ 00”
East 323.20 feet along the Southerly line of said Eighth Street; thence Southeasterly along a curve concave Southwesterly 23.66 feet
having a radius of 15.00 feet and a chord of South 45 degrees 19’ 17” East 21.28 feet to the West line of said Hudson Road;
thence South 00 degrees 05’ 05” East 414.92 feet along said West line of Hudson Road to the Point of Beginning.

 

Parcel
Two:

 

An
easement for the right to construct, reconstruct and maintain electrical transmission, said easement is 10 feet wide and its centerline
is described as follows, as set forth in Easement dated October 11, 1995 and recorded October 12, 1995 in Easement Book 13, Page 377:

 

Commencing
at the Point of Beginning of said Parcel One (as per Munson/Rosenberg/Ham Minor Plat recorded in Misc. Book 315, Page 289), thence North
50 degrees 12’ 25” East 91.99 feet along the Southerly line of Eighth Street in said City to the Point of Beginning of the
centerline of said Easement; thence South 82 degrees 29’ 34” East 152.80 feet to the Point of Termination of said Easement
on the nearest East boundary of Parcel being South 00 degrees 39’ 38” East 117.34 feet from the most Northerly corner of
said Parcel One.

 

    	Exhibit B-7

     

    

 

 

EXHIBIT
C

 

THE
LANDLORD PERSONAL PROPERTY

 

All
machinery, equipment, furniture and other personal property located at or about any Facility and used in connection with the ownership,
operation, or maintenance of any Facility, together with all replacements, modifications, alterations and substitutes thereof (whether
or not constituting an upgrade) but excluding the following:

 

(a)
all vehicles (including any leasehold interests therein);

 

(b)
all office supplies, medical supplies, food supplies, housekeeping supplies, laundry supplies, and inventories and supplies physically
on hand at the Facility;

 

(c)
all customer lists, patient files, and records related to patients (subject to patient confidentiality privileges) and all books and
records with respect to the operation of the Facility;

 

(d)
all employee time recording devices, proprietary software and discs used in connection with the operation of the Facility by Tenant or
any Person who manages the operations of any Facility, all employee pagers, employee manuals, training materials, policies, procedures,
and materials related thereto with respect to the operation of the Facilities; and

 

(e)
all telephone numbers, brochures, pamphlets, flyers, mailers, and other promotional materials related to the marketing and advertising
of the Tenant’s business at the Facility.

 

    	Exhibit C

     

    

 

EXHIBIT
D

 

FINANCIAL,
MANAGEMENT AND REGULATORY REPORTS

 

FINANCIAL
REPORTING

 

		●	Monthly
                                            Financial Reporting: No later than 30 days after the end of each calendar month,
                                            Tenant shall deliver to Landlord, presented on a consolidated and consolidating as well as
                                            a Facility-by- Facility basis, monthly financial statements prepared for the applicable month
                                            with respect to Tenant. Landlord may require Tenant to provide similar financial reports
                                            utilizing the same or a similar template, for periods prior to the Commencement Date, in
                                            which case Tenant shall provide such reports within thirty (30) days following Landlord’s
                                            demand therefor. Together with its delivery to Landlord of the monthly financial reports
                                            and statements required hereunder, Tenant shall deliver, or cause to be delivered, to Landlord,
                                            an Officer’s Certificate certifying that the foregoing statements and reports are true
                                            and correct and were prepared in accordance with GAAP, applied on a consistent basis, subject
                                            to changes resulting from audit and normal year-end audit adjustments.

 

		●	Quarterly
                                            Financial Reporting:

 

		o	No
                                            later than 45 days after the end of each fiscal quarter of Tenant, Tenant shall deliver to
                                            Landlord, presented on a consolidated and consolidating as well as a Facility-by- Facility
                                            basis, quarterly and year-to-date unaudited financial statements prepared for the applicable
                                            quarter with respect to Tenant and any Guarantor. Such reports shall include:

 

	 	 	●	A
    balance sheet and operating statement as of the end of such fiscal quarter;
	 	 	 	 
	 	 	●	Related
    statements of income;
	 	 	 	 
	 	 	●	A
    statement setting forth in reasonable detail the calculation and Tenant’s compliance with each of the performance covenants
    set forth in Section 6.12 of this Lease for the applicable fiscal quarter; and
	 	 	 	 
	 	 	●	Such
    other information as Landlord shall reasonably request.

 

		o	Together
                                            with its delivery to Landlord of the quarterly financial reports and statements required
                                            hereunder, Tenant shall deliver, or cause to be delivered, to Landlord, an Officer’s
                                            Certificate (for Tenant and a separate Officer’s Certificate (from an officer of any
                                            Guarantor) for any financial reports of statements of Guarantor) certifying that the foregoing
                                            statements and reports are true and correct and were prepared in accordance with GAAP, applied
                                            on a consistent basis, subject to changes resulting from audit and normal year-end audit
                                            adjustments.

 

		●	Annual
                                            Financial Reporting: As soon as available, any in any event within 30 days after
                                            the close of each fiscal year of Tenant, Tenant shall deliver to Landlord, presented on a
                                            consolidated and consolidating as well as on a Facility-by-Facility basis, interim financial
                                            statements prepared for such fiscal year with respect to Tenant and any Guarantor, including
                                            a balance sheet and operating statement as of the end of such fiscal year, together with
                                            related statements of income and members’, partners’, or owners’ capital
                                            for such fiscal year. Together with Tenant’s and any Guarantor’s annual financial
                                            statements, Tenant shall deliver to Landlord such other information as Landlord shall reasonably
                                            request.

 

    	Exhibit D

     

    

 

		o	The
                                            audited annual financial statements shall be delivered by Tenant (or any Guarantor) within
                                            90 days after the close of each fiscal year of Tenant, and shall have been audited by an
                                            independent certified public accounting firm reasonably satisfactory to Landlord, whose opinion
                                            shall be to the effect that such financial statements have been prepared in accordance with
                                            GAAP, applied on a consistent basis, and shall not be qualified as to the scope of the audit
                                            or as to the status of any Tenant or Guarantor as a going concern.

 

		●	Audit
                                            and Other Inspection Rights: Without limitation of Tenant’s other obligations
                                            as set forth in this Lease or this Exhibit D, Landlord shall have the right, from time to
                                            time and at its expense (unless an Event of Default exists, in which case Tenant shall, within
                                            ten (10) after demand therefor, reimburse Landlord for any and all costs and expenses incurred
                                            by Landlord in connection with exercising its rights under this paragraph), to audit and
                                            inspect the books, records and accounts of Tenant or any Guarantor and/or relative to any
                                            Facility(ies) designated by Landlord from time to time, provided, however,
                                            that, (a) if no Event of Default exists, Landlord shall give Tenant not less than five (5)
                                            Business Days advance written notice of the commencement of any such inspection and (b) Landlord
                                            shall not require or perform any act that would cause Tenant or any Guarantor to violate
                                            any laws, regulations or ordinances relating to employment records or that protect the privacy
                                            rights of Tenant’s or Guarantor’s employees, healthcare patients or residents.
                                            Tenant shall reasonably cooperate (and shall cause its independent accountants and other
                                            financial advisors to reasonably cooperate) with all such inspections. Such inspections shall
                                            be conducted in a manner that does not materially interfere with Tenant’s business
                                            operations or the business operations relative to any affected Facility(ies). Unless otherwise
                                            agreed in writing by Landlord and Tenant, such inspections shall occur during normal business
                                            hours.

 

		●	Method
                                            of Delivery: All financial statements, reports, data and other information required
                                            to be delivered by Tenant (or Guarantor) pursuant hereto shall be delivered via email to
                                            such email address as Landlord may designate from time to time and shall be in the format
                                            and otherwise in the form required pursuant to Section 6.7.

 

REGULATORY
REPORTING

 

		●	Regulatory
                                            Reports with respect to each Facility: Within ten (10) Business Days after Tenant’s
                                            receipt, Tenant shall deliver to Landlord by written notice the following regulatory reports
                                            with respect to each Facility:

 

		 	○	All
                                            federal, state and local licensing and reimbursement certification surveys, inspection and
                                            other reports received by Tenant as to any Facility and its operations, including state department
                                            of health licensing surveys and reports relating to complaint surveys;

 

		 	○	All
                                            Medicare and Medicaid certification surveys;

 

		 	○	All
                                            life safety code survey reports and/or fire marshal survey reports.

 

 

		●	Reports
                                            of Regulatory Violations: Within five (5) Business Days after Tenant’s receipt
                                            of any of the following, Tenant shall deliver to Landlord by written notice copies of the
                                            same along with all related documentation:

 

		 	○	Any
                                            survey or notice related in any way to a survey deficiency with a scope and severity of “G”
                                            or higher;

 

    	Exhibit D

     

    

 

	 	 	○	Any
    threat of denial of payment for new admissions, or any civil monetary penalty imposed in the amount of $500 per diem or more or $5,000
    per incident or more;
	 	 	 	 
	 	 	○	Any
    violation of any federal, state, or local licensing or reimbursement certification statute or regulation, including Medicare or Medicaid;
	 	 	 	 
	 	 	○	Any
    suspension, termination or restriction (including immediate jeopardy) placed upon Tenant (or Guarantor) or any Facility, the operation
    of any Facility or the ability to admit residents or patients or any threat of any of the foregoing from state or federal authorities
    and/or agencies;
	 	 	 	 
	 	 	○	The
    inclusion of any Facility on the “Special Focus List” maintained by CMS;
	 	 	 	 
	 	 	○	Any
    violation of any other permit, approval or certification in connection with any Facility or the operations thereof, by any federal,
    state or local authority, including Medicare or Medicaid;
	 	 	 	 
	 	 	○	Any
    knowledge, whether a formal notice is given or received or not, of a pending or threatened investigation by a state attorney general,
    the OIG-HHS, or the U.S. Department of Justice relating to Guarantor or any principal, parent, subsidiary or other affiliate thereof.

 

ANNUAL
BUDGETS

 

		●	Annual
                                            Budgets: Within thirty (30) days after the commencement of each calendar year of
                                            Tenant during the Term, Tenant shall deliver to Landlord an annual operating budget covering
                                            the operations of each Facility for the forthcoming calendar year, which budget shall include
                                            month- to-month projections. Said annual operating budgets shall be in a form and shall contain
                                            such information as is reasonably acceptable to Landlord. Tenant shall promptly deliver to
                                            Landlord any subsequent revisions to annual operating budgets.

 

		●	Annual
                                            Capital Budgets. Within thirty (30) days after the commencement of each calendar year
                                            of Tenant during the Term, Tenant shall deliver to Landlord an annual budget setting forth
                                            Tenant’s reasonable estimate of the capital repairs, replacements, and improvements
                                            to each Facility that Tenant anticipates will be necessary in such calendar year to comply
                                            with its obligations under this Lease.

 

    	Exhibit D

     

    

 

EXHIBIT
E

 

FAIR
MARKET VALUE/RENTAL

 

If
it becomes necessary to determine the Fair Market Value or Fair Market Rental of the Premises or any individual Facility for any purpose
under this Lease, Landlord and Tenant shall first attempt to agree on such Fair Market Value or Fair Market Rental, as the case may be.
If Landlord and Tenant are unable to so agree within a reasonable period of time not to exceed thirty (30) days, then Landlord and Tenant
shall have twenty (20) days to attempt to agree upon a single Appraiser to make such determination. If the parties so agree upon a single
Appraiser, such Appraiser shall, within forty- five (45) days of being engaged, determine the Fair Market Value or Fair Market Rental,
as the case may be, as of the relevant date (giving effect to the impact, if any, of inflation from the date of its decision to the relevant
date), and such determination shall be final and binding upon the parties.

 

If
Landlord and Tenant are unable to agree upon a single Appraiser within such twenty
(20)       days, then each party shall have ten (10) days in which to provide the other with the
name of a person selected to act as Appraiser on its behalf. Each such Appraiser shall, within forty-five (45) days of being
engaged, determine the Fair Market Value or Fair Market Rental, as the case may be, as of the relevant date (giving effect to the
impact, if any, of inflation from the date of its decision to the relevant date). If the difference between the amounts so
determined does not exceed ten percent (10%) of the lesser of such amounts, then the Fair Market Value or Fair Market Rental, as the
case may be, shall be the average of the amounts so determined, and such average shall be final and binding upon the parties. If the
difference between the amounts so determined exceeds ten percent (10%) of the lesser of such amounts, then such two Appraisers shall
have twenty (20) days to appoint a third Appraiser. If the first Appraisers fail to appoint a third Appraiser within such twenty
(20) days, either Landlord or Tenant may apply to any court having jurisdiction to have such appointment made by such court. Such
third Appraiser, shall, within forty-five (45) days of being selected or appointed, determine the Fair Market Value or Fair Market
Rental, as the case may be, as of the relevant date (giving effect to the impact, if any, of inflation from the date of its decision
to the relevant date). The determination of the Appraiser which differs most in terms of dollar amount from the determinations of
the other two Appraisers shall be excluded, and the Fair Market Value or Fair Market Rental, as the case may be, shall be the
average of the amounts of the two remaining determinations, and such average shall be final and binding upon the parties.

 

If
either party fails to select an Appraiser within such ten (10) days or a selected Appraiser fails to make its determination within such
forty-five (45) days, the Appraiser selected by the other party or the Appraiser that makes its determination with such forty-five (45)
days, as applicable, shall alone determine the Fair Market Value or Fair Market Rental, as the case may be, as of the relevant date (giving
effect to the impact, if any, of inflation from the date of its decision to the relevant date) and such determination shall be final
and binding upon the parties.

 

Landlord
and Tenant shall each pay the fees and expenses of the Appraiser appointed by it and each shall pay one-half (1⁄2) of the fees and
expenses of the third Appraiser.

 

For
purposes of determining the Fair Market Value or Fair Market Rental, as the case may be, the Premises or the applicable Facility, as
applicable, shall be valued at its highest and best use which shall be presumed to be as a fully-permitted facility operated in accordance
with the provisions of this Lease. In addition, the following specific matters shall be factored in or out, as appropriate, in determining
the Fair Market Value or Fair Market Rental, as the case may be:

 

1.
The negative value of (a) any deferred maintenance or other items of repair or replacement of the Premises or the applicable Facility,
(b) any then current or prior licensure or certification violations and/or admissions holds and (c) any other breach or failure of Tenant
to perform or observe its obligations hereunder shall not be taken into account; rather, the Premises or the applicable Facility,
and every part thereof shall be deemed to be in the condition required by this Lease (i.e., in good order and repair and fully licensed)
and Tenant shall at all times be deemed to have operated the same in compliance with and to have performed all obligations of the Tenant
under this Lease.  

 

    	Exhibit E-1

     

    

 

2.
The occupancy level of the Premises shall be deemed to be the average occupancy during the period commencing on that date which is eighteen
(18) months prior to the date of the initial request for the determination of the Fair Market Value or Fair Market Rental, as the case
may be, and ending on the date which is six (6) months prior to the date of the initial request for the determination of the Fair Market
Value or Fair Market Rental, as the case may be.

 

As
used herein, “Appraiser” means an appraiser licensed or otherwise qualified to do business in the applicable Situs
State and who has substantial experience in performing appraisals of facilities similar to the Premises and holds the Appraisal Institute’s
MAI designation, or, if such organization no longer exists or certifies appraisers, such successor organization or such other organization
as is approved by Landlord.

 

    	Exhibit E-2

     

    

 

EXHIBIT
F

FORM
OF APPROVED LETTER OF CREDIT

 

[NAME] BANK

 

IRREVOCABLE
LETTER OF CREDIT NO.                                       

 

DATE:
                                              

 

EXPIRATION
DATE:                                     

 

___________________________

___________________________

___________________________

 

Ladies
and Gentlemen:

 

We
hereby establish our Irrevocable Letter of Credit in your favor for the account of

                                                                                     
(“Customer”) available by your draft(s) on us payable at sight in an amount not to exceed a total
of                                        Dollars
($                        )
when accompanied by the following documents:

 

1. A
certificate which on its face appears to have been executed by an officer of
                                    ,
a                                               ,
or any successor entity by operation of law (“Beneficiary”), stating the amount which Beneficiary is drawing and
that one or more of the following events has occurred:

 

(a)       an
Event of Default has occurred under that certain Lease dated as of                             ,
20       between Beneficiary and                                             (the
“Lease”);

 

(b) a
default under that certain Guaranty of Lease
dated                      ,20        ,
executed
by                      , a
for the benefit of Beneficiary; or

 

(c)       either
(i) an FDIC receiver or conservator has been appointed for the Issuer (as defined in the Lease)) or (ii) the Issuer has
become subject to operational supervision by any federal or state regulatory authority.

 

2.       The
original Letter of Credit must accompany all drafts unless a partial draw is presented, in which case the original must accompany final
draft.

 

This
Letter of Credit will be duly honored by us at sight upon delivery of the statement set forth above without inquiry as to the accuracy
of such statement and regardless of whether Customer disputes the content of such statement.

 

This
Letter of Credit may be transferred or assigned by Beneficiary to any successor or assign of Beneficiary’s interests under the
Lease or to any lender obtaining a lien or security interest in the property covered by the Lease. Each draft hereunder by any assignee
or successor shall be accompanied by a copy of the fully executed documents or judicial orders evidencing such encumbrance, assignment
or transfer.

 

    	Exhibit F-1

     

    

 

 

Any
draft drawn hereunder shall be in the form attached hereto as Schedule 1. Partial drawings are permitted with the amount of the
Letter of Credit being reduced, without amendment, by the amount(s) drawn hereunder.

 

This
Letter of Credit shall expire at 5:00 p.m., Pacific Time, on the expiration date set forth above. Notwithstanding the foregoing, this
Letter of Credit shall be automatically extended for additional periods of one year from the present or each future expiration date unless
we have notified you in writing, not less than ninety (90) days before any such expiration date, that we elect not to renew this Letter
of Credit. Our notice of any such election shall be sent by express, registered or certified mail to the address shown above.

 

Except
so far as otherwise expressly stated, this Letter of Credit is subject to the “Uniform Customs and Practices for Documentary Credits
(2007 Revision), International Chamber of Commerce Publication No. 600.” We hereby agree with you and all persons negotiating such
drafts that all drafts drawn and negotiated in compliance with the terms of this Letter of Credit will be duly honored upon presentment
and delivery of the documents specified above by express, certified or registered mail, overnight or other delivery by national courier
service or personal delivery to,                         ,
if negotiated on or before the expiration date shown above.

 

	 	Very
    truly yours,
	 	 
	 	 
	 	Authorized
    Signature
	 	 
	 	 
	 	Authorized
    Signature

 

    	Exhibit F-2

     

    

 

SCHEDULE
1 TO EXHIBIT F

 

SIGHT
DRAFT

 

	TO:	 	 	 
	 	 	 	 
	 	 	 	 
	 	Attention:	 	 

 

PAY
TO THE ORDER OF:

 

[NAME
OF BENEFICIARY]

c/o [NAME OF BANK] [ADDRESS OF BANK]

ABA
No. [INSERT ABA NO.]

for
the benefit of [NAME OF BENEFICIARY]

Account
No. [INSERT ACCOUNT NO.]

 

THE
SUM OF:

 

                                  
Dollars ($                         )

 

DRAWN
ON:

 

Irrevocable
Letter of Credit No.                         

 

Dated                        ,
20                     issued
by

 

                                                           
Bank

 

	 	[BENEFICIARY]
	 	 
	 	By:	                   
	 	Name:	 
	 	Title:	 

 

    	Exhibit F-3

     

    

 

EXHIBIT
G

 

FORM
OF SUBORDINATION OF MANAGEMENT AGREEMENT

 

THIS
SUBORDINATION OF MANAGEMENT AGREEMENT (this “Agreement”)

is
made as of                                  ,
20   , by and among CTR PARTNERSHIP, L.P., a Delaware limited partnership (“Landlord”),                                          (“Tenant”),
and                                                    
(“Manager”).

 

RECITALS

 

A. Pursuant to the terms of that certain Master Lease dated , by and between Landlord and Tenant (the “Lease”), Landlord has agreed to lease to Tenant that certain real property more particularly described on Exhibit A attached hereto and by this reference incorporated herein, together with all improvements located thereon (the “Property”). All initially-capitalized terms used herein without definition shall have the meanings given to them in the Lease.

   

B. Tenant and Manager have entered into that certain Management Agreement dated as of                  (together with any amendments thereto, the “Management Agreement”), pursuant to which, Manager operates the Property on the terms and conditions set forth in the Management Agreement.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing recitals, which are, by this reference, incorporated herein, and for other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby covenant and agree as follows:

 

 

1.
Subordination. The Lease, and all supplements, amendments, and modifications thereto and all renewals, replacements or
extensions thereof, shall unconditionally be and remain at all times a lien or charge on the Property prior and superior to both (a)
the Management Agreement and (b) all rights and privileges of Manager and Tenant thereunder. The Management Agreement, together with
all rights and privileges of Manager and Tenant thereunder (including, without limitation, any rights of Manager to receive any compensation
or other payment), is hereby unconditionally subjected, and made subordinate, to the lien or charge of the Lease in favor of Landlord
and all rights and privileges of Landlord thereunder, including, without limitation, the rights of Landlord to receive the Rent from
Tenant and all other amounts due under the Lease. Notwithstanding the foregoing, and provided no Event of Default has occurred and is
continuing under the Lease, Tenant shall be entitled to pay to Manager, and Manager shall be entitled to receive, all compensation, fees,
costs, expenses and reimbursements as provided in the Management Agreement (subject, however, to Section 3 of this Agreement).

     

 2. Landlord Not Obligated Under Management Agreement. Except as otherwise expressly provided in Section 6 below, nothing in this Agreement shall be deemed to be, or construed to be, an agreement by Landlord to perform any covenant of Tenant under the Management Agreement, including, but not limited to, the obligation to make any payments required from Tenant under the Management Agreement. The Management Agreement is an agreement solely between Tenant and Manager, and any and all rights and remedies of Manager shall be solely against Tenant. Manager shall neither do, nor permit anything to be done, that would cause (a) there to exist an “Event of Default” in any obligation of Tenant under the Lease or (b) the Lease to be terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in Landlord under the Lease. Manager represents that it has read an executed version of the Lease and is familiar with the terms thereof.

 

    	Exhibit G-1

     

    

 

 3. Manager’s Agreements.

 

(a)
Manager agrees that during the term of the Management Agreement, without Landlord’s prior written consent, which consent shall
not unreasonably be withheld, conditioned or delayed, Manager will not:

 

(i) accept any payment more than one (1) month in advance under the Management Agreement; or

       

(ii) cancel, terminate or surrender, except at the normal expiration of the term thereof, the Management Agreement or enter into any
amendment or modification of, or any agreement that supplements the terms of, the Management Agreement. Nevertheless, Manager shall have
the right to terminate the Management Agreement for default by Tenant by giving Landlord 45 days’ prior written notice of such
termination (“Manager Termination Notice”). In the event Landlord (or Tenant) cures such default in that 45-day period,
then any Manager Termination Notice related to the then-cured default shall be deemed null and void and shall be of no further force
or effect.

 

(b)
Notwithstanding anything in the Management Agreement to the contrary, Manager hereby acknowledges the existence of the Lease and acknowledges
that Tenant is the tenant of and not the fee owner of the Property. As such, Manager hereby agrees and acknowledges that the Management
Agreement shall terminate upon the expiration of the Lease.

     

(c)
Manager agrees to reasonably cooperate with Landlord, as well as any broker, agent, lenders, appraisers or other advisors involved in
any prospective sale or financing with respect to the Property and also with Landlord and/or any third party who takes over management
of the Property upon the termination or expiration of the Management Agreement. Such reasonable cooperation shall include, without limitation,
(i) providing access to the Property, (ii) arranging interviews with residents, and Manager’s key employees, and (iii) providing
promptly upon request all information related to the Property in Manager’s possession or readily available to Manager including,
financial records, property tax records, employee records, copies of leases, copies of service contracts, copies of warranties and guarantees,
health care licenses (and all reports related thereto), complete resident files, loss history reports and maintenance and repair records.

 

4.
Manager’s Representations. Manager warrants and represents to Landlord, as of the date hereof, that the following
are true and correct:

 

 (a) Attached hereto as Exhibit B is a full, complete and accurate copy of the Management Agreement.

     

 (b) The entire agreement between Manager and Tenant for the services provided by Manager with respect to the Property is evidenced by the Management Agreement.

     

(c)
The Management Agreement constitutes the valid and binding agreement of Manager, enforceable in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting
creditor’s rights and to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or
law); and Manager has full authority under all state and local laws and regulations to perform all of its obligations under the Management
Agreement.

 

    	Exhibit G-2

     

    

 

(d)
Neither Tenant nor Manager is in default in the performance of any of its obligations under the Management Agreement and all payments
and fees required to be paid by Tenant to Manager thereunder have been paid to the date hereof.

 

 5. Default Notices. From and after the date hereof, Tenant and Manager shall send a copy of any notice of default or similar statement under the Management Agreement to Landlord at the same time such notice or statement is sent to the applicable party under the Management Agreement. Such notices shall be delivered to Landlord in the manner and at the addresses set forth in Section 12.

 

 6. Landlord Right to Continue or Terminate Management Agreement.

 

  (a) The parties hereto acknowledge and agree that, notwithstanding any provisions of the Management Agreement to the contrary, Landlord shall have the right and option at any time after the occurrence and continuance of an Event of Default under the Lease to either (i) require Manager to continue performance under the Management Agreement on behalf of Landlord, by so advising Manager, in writing, promptly upon the occurrence and continuance of the Event of Default (the “Continuation Notice”), whereupon Landlord shall (x) have the right to exercise all of the rights and remedies of Tenant under the Management Agreement and (y) pay to Manager, on a timely basis and pursuant to the terms of the Management Agreement, those fees or other compensation that first accrue under the terms of the Management Agreement from and after the date on which Landlord delivers the Continuation Notice to Manager; or (ii) terminate the Management Agreement by written notice to Manager (the “Accelerated Termination Notice”), whereupon Manager will comply with the requirements of Section 6(c) below.

     

  (b) If Landlord exercises its right to require Manager to perform under the Management Agreement and delivers a Continuation Notice to Manager, then Landlord shall have the right, within ninety (90) days following delivery of the Continuation Notice and without cause, by written notice to Manager (the “Post-Continuation Termination Notice”), to terminate the Management Agreement. In that event, promptly following the termination date set forth in the Post-Continuation Termination Notice (the “Post-Continuation Termination Date”), Landlord shall pay to Manager any then-accrued, but unpaid, fees or other compensation due to Manager under the terms of the Management Agreement for the period of time from and after Landlord’s delivery of the Continuation Notice and continuing through the Post-Continuation Termination Date.

     

  (c) If (i) Landlord delivers an Accelerated Termination Notice, then on the termination date set forth therein (“Accelerated Termination Date”), or (ii) Landlord delivers a Post- Continuation Termination Notice, then on the Post-Continuation Termination Date, Manager shall cooperate with Landlord (or a replacement manager selected by Landlord, in its sole discretion) and do all that is commercially reasonable to effectuate the orderly transition of the management and/or operation of the Property (the “Transition”). Manager’s obligation to cooperate in the orderly Transition shall include, without limitation, Manager complying with its obligations under Section 3(c) of this Agreement, together with the prompt delivery to Landlord of the following: (A) an accounting reflecting the balance of income and expenses of and from the Property to the Accelerated Termination Date or the Post- Continuation Termination Date, as applicable; (B) any balance of monies held by Manager in connection with the Property; and (C) all books and records relating to the Property which are in Manager’s possession or under Manager’s control (copies of which may be retained by Manager, at Manager’s expense), together with such authorizations and letters of direction addressed to tenants, residents, suppliers, employees, banks and other parties as Landlord may reasonably require. In addition to the foregoing, Manager shall: (x) perform all reporting and accounting functions under the Management Agreement for the period from the date of the last report or accounting to the Accelerated Termination Date or the Post-Continuation Termination Date, as applicable; and (y) assign, transfer, convey or deliver to Landlord or its designee, as appropriate, all service contracts, equipment leases and personal property relating to and used in the operation and maintenance of the Property. A final accounting for unpaid fees (if any) due to Manager under the Management Agreement shall be prepared by Manager, at Manager’s expense, and delivered to Landlord within sixty (60) days after the Accelerated Termination Date or the Post-Continuation Termination Date, as applicable.

 

    	Exhibit G-3

     

    

 

  (d) Landlord shall not be (i) liable for any action or omission of any prior owner of the Property; or (ii) subject to any counterclaim or claims which Manager might now or in the future have or otherwise be entitled to assert against Tenant.

     

  (e) Any and all rents, deposits, penalties and any other monies, of any nature, held by Manager, on behalf of Tenant and pursuant to the terms of the Management Agreement, shall be payable to Landlord upon demand.

     

  (f) If Landlord exercises its option to deliver an Accelerated Termination Notice or a Post-Continuation Termination Notice, as the case may be, then, notwithstanding any provision of the Management Agreement to the contrary, no termination fee, severance, commission, penalty or other compensation shall be due and payable by Landlord to Manager, except as set forth in Section 6(b).

 

 7. Entire Agreement. This Agreement shall be the whole and only agreement with regard to the subjection and subordination of the Management Agreement, together with all rights and privileges of Tenant and Manager thereunder, to the lien or charge of the Lease and shall supersede and cancel, but only insofar as would affect the priority between the Management Agreement and the Lease, any prior agreements as to such subjection or subordination, including, but not limited to, any provisions contained in the Management Agreement that provide for the subjection or subordination of the Management Agreement to the Lease. In the event of any conflict between the terms of this Agreement and those of the Management Agreement, this Agreement shall control, in all events.

     

 8. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which counterparts taken together shall constitute one and the same instrument. Signature and acknowledgement pages may be detached from the counterparts and attached to a single copy of this Agreement to form one document, which may be recorded.

     

9.
Modification. This Agreement may not be modified orally or in any manner other than by an agreement in writing signed by
the parties hereto or their respective successors in interest. This Agreement shall inure to the benefit of and be binding upon the parties
hereto and their respective successors and assigns.

     

10.
Prevailing Party Costs and Expenses. In the event any legal action or proceeding is commenced to interpret or enforce the
terms of, or obligations arising out of, this Agreement, or to recover damages for the breach thereof, the party prevailing in any such
action or proceeding shall be entitled to recover from the non-prevailing party all reasonable attorneys’ fees, costs and expenses
incurred by the prevailing party.

     

11.
Governing Law. The parties hereto agree that the rights and obligations under this Agreement shall be governed by and construed
and interpreted in accordance with the internal law of theState in which the Property is located without giving effect to the conflicts-of-law
rules and principles of such or any other state.

 

    	Exhibit G-4

     

    

 

 12. Notices. Any notice which a party is required or may desire to give the other parties shall be in writing and shall be sent by personal delivery or by either (a) United States registered or certified mail, return receipt requested, postage prepaid, or (b) Federal Express or similar generally recognized overnight carrier regularly providing proof of delivery, addressed as follows:

 

	              If
    to Tenant:	 	              If
    to Landlord:
	 	 	 
	c/o
    Trillium Healthcare Group, LLC	 	c/o
    CareTrust REIT, Inc.
	5115
    East State Road 64	 	905
    Calle Amanecer, Suite 300
	Bradenton,
    FL 34208 Attn:	 	San
    Clemente, California 92673
	Richard
    T. Mason	 	Attn:
    Gregory K. Stapley, CEO

 

	              With
    a copy to:	 	              With
    a copy to:
	 	 	 
	Rotella
    Legal Group, P.A.	 	Sherry
    Meyerhoff Hanson & Crance LLP
	100
    South Ashley St., Suite 375	 	610
    Newport Center Drive, Suite 1200
	Tampa,
    FL 33602	 	Newport
    Beach, California 92660-6445
	 	 	Attn:
    James B. Callister, Esq.

 

If
to Manager:

 

 

 

 

 

Any
notice so given by mail shall be deemed to have been given as of the date of delivery (whether accepted or refused) established by U.S.
Post Office return receipt or the overnight carrier’s proof of delivery, as the case may be, whether accepted or refused. Any such
notice not so given shall be deemed given upon receipt of the same by the party to whom the same is to be given. Any party hereto may
designate a different address for itself by notice to the other parties in accordance with this Section 12. In the event a party
is not a natural person, delivery to an officer, director or partner of such party shall be deemed delivery to such party.

 

 13. Landlord’s Reliance. Manager has executed this Agreement (a) in order for Tenant to comply with the Lease and to induce Landlord to accept Manager as the manager of the Property and (b) with full knowledge that Landlord shall rely upon the representations, warranties and agreements herein contained, and that, but for this instrument and the representations, warranties and agreements therein contained, Landlord would not take such action.

     

 14. No Joint Venture. Landlord has no obligation to Manager with respect to the Lease and Manager shall not be a third party beneficiary with respect to any of Landlord’s obligations to Tenant set forth in the Lease. The relationship of Landlord to Tenant is one of a landlord to a tenant, and Landlord is not a joint venturer or partner of Tenant.

     

 15. Further Assurances. Manager further agrees to (a) execute such affidavits and certificates as Landlord shall reasonably require to evidence further the agreements herein contained, (b) on request from Landlord, furnish Landlord with copies of such information as Tenant is entitled to receive under the Management Agreement, and (c) reasonably cooperate with Landlord’s representative in any inspection of all or any portion of the Property.

 

[Signatures
begin on next page]

 

    	Exhibit G-5

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first above

written.

 

	LANDLORD:	 
	 	 	 
	CTR
    PARTNERSHIP, L.P.,	 
	a
    Delaware limited partnership	 
	 	 	 
	By:	CareTrust
    GP, LLC,	 
	 	a
    Delaware limited liability company	 
	Its:	General
    Partner	 
	 	 	 

 

	 	 	By:	CareTrust
    REIT, Inc.,	 
	 	 	 	a
    Maryland corporation	 
	 	 	Its:
	Sole
    Member	 

 

	 	By:	 	 
	 	Name:	Gregory
    K. Stapley	 
	 	Title:	President
	 

 

TENANT:

 

[INSERT]

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

MANAGER:

 

[INSERT]

 

	By:		 
	Name:	 	 
	Title:	 	 

 

    	Exhibit G-6

     

    

 

SCHEDULE
1

 

FACILITY
LIST

 

	Facility
    Name	 	Facility
    Address	 	Primary
    Intended Use	 	No.
    of Licensed Beds
	Shamrock
    Nursing & Rehab Center	 	1634
                                            Telfair Street

    Dublin,
    GA 31021
	 	SNF	 	105
    beds
	Iowa
    City Rehab and Health Care Center	 	3661
    Rochester Ave. Iowa City, Iowa 52245	 	SNF	 	89
    beds
	Casa
    de Paz Health Care Center	 	2121
    W. 19th Street Sioux City, Iowa 51103	 	SNF	 	71
    beds
	Osage
    Rehabilitation and Health Care Center	 	830
    South 5th Street Osage, Iowa 50461	 	SNF	 	50
    beds
	Denison
    Care Center	 	1202
                                            Ridge Road

    Denison,
    Iowa 51442
	 	SNF	 	50
    beds
	Grandview
    Health Care Center	 	508
    2nd Street N.E. Dayton, Iowa 50530	 	SNF	 	48
    beds
	Pleasant
    Acres Care Center	 	309
                                            Railroad Street

    Hull,
    Iowa 51239
	 	SNF	 	60
    beds
	Lenox
    Care Center	 	111
    E. Van Buren St. Lenox, Iowa 50851	 	SNF	 	50
    beds
	Grundy
    Care Center	 	102
                                            East J Ave.

    Grundy
    Center, Iowa 50638
	 	SNF	 	40
    beds
	Garden
    View Care Center	 	1200
    W. Nishna Road Shenandoah, Iowa 51601	 	SNF	 	90
    beds
	Cedar
    Falls Health Care Center	 	1728
    West 8th Street Cedar Falls IA 50613	 	SNF	 	82
    beds

 

Defined
Terms

 

	“SNF”	Skilled
    Nursing Facility
	“ALF”	Assisted
    Living Facility
	“ILF”	Independent
    Living Facility
	“ALZ”	Alzheimer’s
    Care/Memory Care Facility

 

    	Schedule 2

     

    

 

SCHEDULE
2

 

TENANT
OWNERSHIP STRUCTURE

 

	Name	 	Mailing
    Address	 	Membership
    Interest in Each Tenant
	Trillium
    Healthcare Group, LLC	 	5115
                                            East State Road 64

    Bradenton,
    FL 34208
	 	100%
	 	 	 	 	 

    	Schedule 2

     

    

 

MASTER
LEASE

 

Between

 

CTR
PARTNERSHIP, L.P.,

 

a
Delaware limited partnership, as “

Landlord”

 

and

 

Entity(ies)
Identified Herein as “Tenant”

 

Dated:
August 16, 2019

 

IOWA
AND GEORGIA PORTFOLIO

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	 	Page
    No.
	Article
    I MASTER LEASE; DEfINITIONS; Premises; TERM	1
	1.1	Recognition
    of Master Lease; Irrevocable Waiver of Certain Rights	1
	1.2	Definitions	2
	1.3	Lease
    of Premises; Ownership	2
	1.4	Term	2
	1.5	Net
    Lease	2
	Article
    II RENT	3
	2.1	Base
    Rent	3
	2.2	Additional
    Rent	4
	2.3	Method
    of Payment	4
	2.4	Late
    Payment of Rent	4
	2.5	Guaranty	4
	Article
    III SECURITY DEPOSIT; LETTER OF CREDIT	4
	3.1	Security
    Deposit	4
	3.2	Letter
    of Credit	5
	Article
    IV IMPOSITIONS AND OTHER CHARGES	7
	4.1	Impositions	7
	4.2	Utilities;
    CC&Rs	7
	4.3	Insurance	8
	4.4	Other
    Charges	8
	4.5	Real
    Property Imposition Impounds	8
	4.6	Insurance
    Premium Impounds	9
	Article
    V ACCEPTANCE OF PREMISES; no impairment	9
	5.1	Acceptance
    of Premises	9
	5.2	No
    Impairment	9
	Article
    VI OPERATING COVENANTS	10
	6.1	Tenant
    Personal Property	10
	6.2	Landlord
    Personal Property	10
	6.3	Primary
    Intended Use	10
	6.4	Compliance
    with Legal Requirements and Authorizations	10
	6.5	Preservation
    of Business	11
	6.6	Maintenance
    of Books and Records	11
	6.7	Financial,
    Management and Regulatory Reports	11
	6.8	Estoppel
    Certificates	12
	6.9	Furnish
    Information	12
	6.10	Affiliate
    Transactions	12
	6.11	Waste	12
	6.12	Additional
    Covenants	12
	6.13	No
    Liens	13

 

    	(i)

     

    

 

TABLE
OF CONTENTS

(continued)

 

	 	Page
    No.
	Article
    VII MAINTENANCE AND REPAIR	13
	7.1	Tenant’s
    Maintenance Obligation	13
	7.2	Premises
    Condition Report	14
	7.3	Notice
    of Non-Responsibility	14
	7.4	Permitted
    Alterations	14
	7.5	Capital
    and Material Alterations	15
	7.6	Capital
    Expenditures	16
	7.7	Omitted	17
	7.8	Encroachments	17
	Article
    VIII PERMITTED CONTESTS	17
	Article
    IX INSURANCE	17
	9.1	Required
    Policies	17
	9.2	General
    Insurance Requirements	19
	9.2.1	All
    of the policies of insurance required to be maintained by Tenant under this	19
	9.3	Replacement
    Costs	19
	9.4	Claims-Made
    Policies	20
	9.5	Non-Renewal	20
	9.6	Deductibles	20
	9.7	Increase
    in Limits; Types of Coverages	20
	9.8	No
    Separate Insurance	21
	Article
    X REPRESENTATIONS AND WARRANTIES	21
	10.1	General	21
	10.2	Anti-Terrorism
    Representations	21
	10.3	Additional
    Representations and Warranties	22
	Article
    XI DAMAGE AND DESTRUCTION	23
	11.1	Notice
    of Damage or Destruction	23
	11.2	Restoration	23
	11.3	Insufficient
    or Excess Proceeds	23
	11.4	Facility
    Mortgagee	23
	Article
    XII CONDEMNATION	24
	Article
    XIII DEFAULT	24
	13.1	Events
    of Default	24
	13.2	Remedies	26
	Article
    XIV OBLIGATIONS OF TENANT ON EXPIRATION OR TERMINATION OF LEASE	28
	14.1	Surrender	28
	14.2	Transition	28
	14.3	Tenant
    Personal Property	30
	14.4	Facility
    Trade Name	30

 

    	(ii)

     

    

 

TABLE
OF CONTENTS

(continued)

 

		 	Page
    No.
	14.5	Holding
    Over	30
	Article
    XV INDEMNIFICATION	30
	Article
    XVI LANDLORD’S FINANCING	31
	16.1	Grant
    Lien	31
	16.2	Attornment	31
	16.3	Cooperation;
    Modifications	31
	16.4	Compliance
    with Facility Mortgage Documents	32
	Article
    XVII ASSIGNMENT AND SUBLETTING	32
	17.1	Prohibition	32
	17.2	Landlord
    Consent	33
	17.3	Transfers
    to Affiliates	33
	17.4	Subtenants	33
	17.5	Permitted
    Occupancy Agreements	34
	17.6	Costs	34
	Article
    XVIII CERTAIN RIGHTS OF LANDLORD	34
	18.1	Right
    of Entry	34
	18.2	Conveyance
    by Landlord	34
	18.3	Granting
    of Easements, etc	34
	Article
    XIX ENVIRONMENTAL MATTERS	35
	19.1	Hazardous
    Materials	35
	19.2	Notices	35
	19.3	Remediation	35
	19.4	Indemnity	35
	19.5	Environmental
    Inspections	36
	Article
    XX LANDLORD’S SECURITY INTEREST  	36
	20.1	Grant
    of Security Interest	36
	20.2	Accounts
    Receivable Financing	36
	20.3	Certain
    Changes	36
	Article
    XXI QUIET ENJOYMENT	 36
	Article
    XXII REIT RESTRICTIONS	37
	22.1	Characterization
    of Rents	37
	22.2	General
    REIT Provisions	37
	22.3	Prohibited
    Transactions	37
	22.4	Personal
    Property REIT Requirements	37
	Article
    XXIII NOTICES	38
	Article
    XXIV MISCELLANEOUS	38
	24.1	Memorandum
    of Lease	38

 

    	(iii)

     

    

 

TABLE
OF CONTENTS

(continued)

 

	 	 	Page
    No.
	24.2	No
    Merger	38
	24.3	No
    Waiver	38
	24.4	Acceptance
    of Surrender	39
	24.5	Attorneys’
    Fees	39
	24.6	Brokers	39
	24.7	Severability	39
	24.8	Non-Recourse	39
	24.9	Successors
    and Assigns	39
	24.10	Governing
    Law; Jury Waiver	39
	24.11	Entire
    Agreement	39
	24.12	Headings	40
	24.13	Counterparts	40
	24.14	Joint
    and Several	40
	24.15	Interpretation	40
	24.16	Time
    of Essence	40
	24.17	Further
    Assurances	40
	24.18	First
    Look	40
	24.19	Option
    to Purchase	40

 

EXHIBITS/SCHEDULES

 

	1.1	Recognition
    of Master Lease; Irrevocable Waiver of Certain Rights.	 1
	1.2	Definitions	 1
	1.3	Lease
    of Premises; Ownership	 2
	1.4	Term	 2
	1.5	Net
    Lease	 2
	2.1	Base
    Rent	 2
	2.2	Additional
    Rent	 3
	2.3	Method
    of Payment	 4
	2.4	Late
    Payment of Rent	 4
	2.5	Guaranty	 4
	3.1	Security
    Deposit	 4
	3.2	Letter
    of Credit	 5
	4.1	Impositions	 7
	4.2	Utilities;
    CC&Rs	 7
	4.3	Insurance	 7
	4.4	Other
    Charges	 8
	4.5	Real
    Property Imposition Impounds	 8
	4.6	Insurance
    Premium Impounds	 8
	5.1	Acceptance
    of Premises	 9

 

    	(iv)

     

    

 

TABLE
OF CONTENTS

(continued)

 

	 	 	Page No.
	5.2	No
    Impairment	9 
	6.1	Tenant
    Personal Property.	10 
	6.2	Landlord
    Personal Property	10 
	6.3	Primary
    Intended Use	10 
	6.4	Compliance
    with Legal Requirements and Authorizations	10 
	6.5	Preservation
    of Business	11 
	6.6	Maintenance
    of Books and Records	11 
	6.7	Financial,
    Management and Regulatory Reports	11 
	6.8	Estoppel
    Certificates	12 
	6.9	Furnish
    Information	12 
	6.10	Affiliate
    Transactions	12 
	6.11	Waste	12 
	6.12	Additional
    Covenants	12 
	6.13	No
    Liens	13 
	7.1	Tenant’s
    Maintenance Obligation	13 
	7.2	Premises
    Condition Report	14 
	7.3	Notice
    of Non-Responsibility	14 
	7.4	Permitted
    Alterations	14 
	7.5	Capital
    and Material Alterations	15 
	7.6	Capital
    Expenditures	16 
	7.7	Omitted	17 
	7.8	Encroachments	17 
	9.1	Required
    Policies	17 
	9.2	General
    Insurance Requirements	17 
	9.2.1	All
    of the policies of insurance required to be maintained by Tenant under this	19 
	9.3	Replacement
    Costs	19 
	9.4	Claims-Made
    Policies	20 
	9.5	Non-Renewal	20 
	9.6	Deductibles	20 
	9.7	Increase
    in Limits; Types of Coverages	20 
	9.8	No
    Separate Insurance	20 
	Article
    X REPRESENTATIONS AND WARRANTIES	21 
	10.1	General	21 
	10.2	Anti-Terrorism
    Representations	21 
	10.3	Additional
    Representations and Warranties	23 
	11.1	Notice
    of Damage or Destruction	23 
	11.2	Restoration	23 
	11.3	Insufficient
    or Excess Proceeds	23 
	11.4	Facility
    Mortgagee	24 
	13.1	Events
    of Default	24 

 

    	(v)

     

    

 

TABLE
OF CONTENTS

(continued)

 

	 	 	Page No.
	13.2	Remedies	26 
	14.1	Surrender	28 
	14.2	Transition	28 
	14.3	Tenant
    Personal Property	30 
	14.4	Facility
    Trade Name	30 
	14.5	Holding
    Over	30 
	16.1	Grant
    Lien	30 
	16.2	Attornment	31 
	16.3	Cooperation;
    Modifications	31 
	16.4	Compliance
    with Facility Mortgage Documents	31 
	17.1	Prohibition	32 
	17.2	Landlord
    Consent	33 
	17.3	Transfers
    to Affiliates	33 
	17.4	Subtenants	33 
	17.5	Permitted
    Occupancy Agreements	34 
	17.6	Costs	34 
	18.1	Right
    of Entry	34 
	18.2	Conveyance
    by Landlord	34 
	18.3	Granting
    of Easements, etc	35 
	19.1	Hazardous
    Materials	35 
	19.2	Notices	35 
	19.3	Remediation	35 
	19.4	Indemnity	36 
	19.5	Environmental
    Inspections	36 
	20.1	Grant
    of Security Interest	36 
	20.2	Accounts
    Receivable Financing	36 
	20.3	Certain
    Changes	36 
	22.1	Characterization
    of Rents	37 
	22.2	General
    REIT Provisions	37 
	22.3	Prohibited
    Transactions	37 
	22.4	Personal
    Property REIT Requirements	38 
	24.1	Memorandum
    of Lease	38 
	24.2	No
    Merger	38 
	24.3	No
    Waiver	38 
	24.4	Acceptance
    of Surrender	39 
	24.5	Attorneys’
    Fees	39 
	24.6	Brokers	39 
	24.7	Severability	39 
	24.8	Non-Recourse	39 
	24.9	Successors
    and Assigns	39 

 

    	(vi)

     

    

 

TABLE
OF CONTENTS

(continued)

 

		 	Page No.
	24.10 	Governing Law; Jury Waiver	39
	24.11	Entire Agreement	39
	24.12	Headings	40
	24.13	Counterparts	40
	24.14	Joint and Several	40
	24.15	Interpretation	40
	24.16	Time of Essence	40
	24.17	Further Assurances	40
	24.18	First Look	40
	24.19	Option to Purchase	41

 

 

		 
	Exhibit A Defined Terms
	Exhibit B Description of the Land
	

Exhibit
C The Landlord Personal Property

	Exhibit D Financial, Management and Regulatory
  Reports
	

Exhibit
E Fair Market Value/Rental

	Exhibit F Form of Approved Letter of Credit
	Schedule 1 Facility List
	Schedule 2 TENANT OWNERSHIP STRUCTURE

 

    	(vii)Exhibit
10.3

 

CONSENT
AGREEMENT AND AMENDMENT TO MASTER LEASE

 

THIS
CONSENT AGREEMENT AND AMENDMENT TO MASTER LEASE (this “Agreement”) is entered into as of June 10, 2021, by and
between CTR PARTNERSHIP, L.P., a Delaware limited partnership (“Landlord”), and GREENSIDE HEALTHCARE PROPERTIES,
LLC, a Florida limited liability company (“Tenant”).

 

RECITALS

 

A.
Landlord and Tenant are parties to that certain Master Lease dated August 16, 2019 (as amended to date, the “Lease”),
pursuant to which Landlord has leased to Tenant those skilled nursing facilities located in the states of Iowa and Georgia and more particularly
described in the Lease (each, a “Facility” and, collectively, the “Facilities”). Initially capitalized
terms used herein without definition shall have the meanings ascribed to such terms in the Lease.

 

B.
Pursuant to that certain Guaranty of Master Lease dated August 16, 2019 (the “Current Guaranty”), Trillium Healthcare
Group, LLC, a Florida limited liability company (“Current Guarantor”), guaranteed the obligations of Tenant under
the Lease.

 

C.
Fairway Healthcare Partners, LLC, a Florida limited liability company (“Fairway”) directly owns 100% of the ownership
interests in Tenant. Current Guarantor directly owns 100% of the ownership interests in Fairway. Tenant and Current Guarantor have requested
that Landlord consent to the sale by Current Guarantor of 100% of the ownership interests in Fairway from Current Guarantor to Assisted
4 Living, Inc., a Nevada corporation (“New Owner”) (the “Change of Control Transaction”), and Landlord
is willing to consent to the Change of Control Transaction under the terms and conditions set forth herein.

 

AGREEMENT

 

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

 

1.
Consent of Landlord. Subject to the terms of this Agreement, Landlord hereby consents to the Change of Control Transaction. Landlord
and Tenant agree that the Change of Control Transaction does constitute a Transfer for which Landlord’s consent is required under
the Lease; provided, however, this Agreement and the consent of Landlord to the Change of Control Transaction shall not be deemed to
be a consent to any subsequent Transfer.

 

2.
Security Deposit. On the date hereof, and as a condition precedent to Landlord’s consent to the Change of Control Transaction,
Tenant shall cause to be paid to and deposited with Landlord the amount of One Million Two Hundred Thousand Dollars ($1,200,000) to be
held as a Security Deposit under the Lease and as security for the full and faithful performance by Tenant of each and every term, provision,
covenant and condition of the Lease. Amounts paid to and deposited with Landlord pursuant to this Section 2 shall be held by Landlord
as a Security Deposit pursuant to the terms of Section 3.1 of the Lease.

 

3.
Guaranty of Lease. As of the date hereof, and as a condition precedent to Landlord’s consent to the Change of Control Transaction,
Tenant shall cause New Owner to execute a guaranty of Tenant’s obligations under the Lease in the form of Exhibit A attached
hereto (the “Corporate Guaranty”).

 

    	Trillium Consent	1	 

     

    

 

4.
Change of Control Transaction Documents. Prior to the date hereof, Tenant has caused to be delivered to Landlord a true, complete,
and correct copy of the Amended and Restated Membership Interest Purchase Agreement pursuant to which the Change of Control Transaction
is to be consummated. Tenant represents and warrants that no amendments to the Amended and Restated Membership Interest Purchase Agreement
have been entered into since delivery of documents to Landlord. Tenant hereby agrees that Landlord shall have the right to review and
approve any material amendments or other material modifications made to the Amended and Restated Membership Interest Purchase Agreement
(or to the material terms of the Change of Control Transaction).

 

5.
Amendment to Master Lease. Schedule 2 attached to the Lease is hereby deleted in its entirety and is replaced with the form
of Schedule 2A attached to this Agreement. Upon the closing of the Change of Control Transaction, Schedule 2 to the Lease
shall be automatically amended without the need of any further action by the parties to replace Schedule 2 with the form of Schedule
2B attached hereto.

 

6.
Ratification. Notwithstanding the modifications to the Lease contained herein, Tenant hereby acknowledges and reaffirms its obligations
under the Lease, as amended hereby, and all other documents executed by Tenant in connection therewith. Notwithstanding the modifications
to the Lease contained herein, Current Guarantor hereby acknowledges and reaffirms its obligations under the Current Guaranty and all
documents executed by Current Guarantor in connection therewith to the extent any such obligations exist following the closing of the
Change of Control Transaction. Tenant hereby represents and warrants that the person or entity signing this Agreement on behalf of Tenant
is authorized to do so and is authorized to bind Tenant with respect to all matters involving the Lease and the Premises.

 

7.
Counterparts. This Agreement may be executed in counterparts, each of which will constitute an original, but all of which, when taken
together, will constitute but one agreement. This Agreement may be executed electronically and executed copies hereof may be delivered
by facsimile, email or similar electronic means and upon receipt will be deemed originals and binding upon the parties hereto, regardless
of whether originals are delivered thereafter.

 

8.
Entire Agreement. This Agreement contains the entire agreement between the parties relating to the subject matters contained herein.
Any oral representations or statements concerning the subject matters herein shall be of no force or effect.

 

[Signature
Page Follows]

 

    	Trillium Consent	2	 

     

    

 

IN
WITNESS WHEREOF, this Agreement has been executed by Land lord and Tenant as of the date first written above.

 

	TENANT:	 
	 	 
	GREENSIDE
    HEALTHCARE PROPERTIES, LLC	 
	a
    Florida limited liability company	 
	 	 	 
	By:	/s/
    Richard T. Mason	 
	Name:	Richard
    T. Mason	 
	Title:	Authorized
    Representative	 

 

	CURRENT
    GUARANTOR:	 
	 	 
	TRILLIUM
    HEALTHCARE GROUP, LLC,	 
	a
    Florida Limited Lia bility Company	 
	 	 	 
	By:	/s/ G.
    Shayne Bench	 
	Name:	G.
    Shayne Bench	 
	Title:	Authorized
    Representative	 

 

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

 

	TENANT:	 
	 	 
	GREENSIDE
    HEALTHCARE PROPERTIES, LLC	 
	a
    Florida limited liability company	 
	 	 	 
	By:	/s/
    Richard T. Mason	 
	Name:	Richard
    T. Mason	 
	Title:	Authorized
    Representative	 

 

	CURRENT
    GUARANTOR:	 
	 	 
	TRILLIUM
    HEALTHCARE GROUP, LLC,	 
	a
    Florida Limited Liability Company	 
	 	 	 
	By:	/s/
    G. Shayne Bench	 
	Name:	G.
    Shayne Bench	 
	Title:	Authorized
    Representative	 

 

[Signatures
continue on next page]

 

Signature
Page to Consent Agreement and Amendment to Master Lease

 

    	 

     

    

 

	LANDLORD:	 
	 	 	 
	CTR
    PARTNERSBIP, L.P.,	 
	a
    Delaware limited partnership	 
	 	 	 
	By:	CareTrust
    GP, LLC,	 
	 	a
    Delaware limited liability company	 
	Its:	General
    Partner	 

 

	 	By:	CareTrust
    REIT, Inc.,	 
	 	 	a
    Maryland Corporation	 
	 	Its:	Sole
    Member	 

 

	 	By:	/s/
    DAVID SEDGWICK	 
	 	Name:	DAVID
    SEDGWICK	 
	 	Title:	PRESIDENT
    & CEO	 

 

    	Trillium Consent	S-2	 

     

    

 

EXHIBIT
A

 

FORM
OF CORPORATE GUARANTY

 

[see
attached]

 

    	Tnllium Consent	Exhibit A	 

     

    

 

GUARANTY
OF MASTER LEASE

 

THIS
GUARANTY OF MASTER LEASE (this “Guaranty”) is made effective as of June 10, 2021, by ASSISTED 4 LIVING, INC.,
a Nevada corporation (“Guarantor”), in favor of CTR PARTNERSHIP, L.P., a Delaware limited partnership (“Landlord”).

 

R
E C I T A L S

 

A.
Landlord and Greenside Healthcare Properties, LLC, a Florida limited liability company (“Tenant”), have entered
into that certain Master Lease dated as of August 1, 2019 (the “Lease”). All initially capitalized terms used and
not otherwise defined herein shall have the same meanings given such terms in the Lease.

 

B.
Trillium Healthcare Group, LLC, a Florida limited liability company (“Current Guarantor”) has entered into that
certain Guaranty of Master Lease dated August 16, 2019 in favor of Landlord and pursuant to which Current Guarantor guarantees the payment
and performance of Tenant’s obligations under the Lease.

 

C.
Fairway Healthcare Partners, LLC, a Florida limited liability company (“Fairway”) directly owns 100% of the ownership
interests in Tenant. Current Guarantor directly owns 100% of the ownership interests in Fairway. Tenant and Current Guarantor have requested
that Landlord consent to the sale by Current Guarantor of 100% of the ownership interests in Fairway from Current Guarantor to Guarantor
(the “Change of Control Transaction”). Landlord, Tenant and Current Guarantor have entered into that certain Consent
Agreement and Amendment to Master Lease dated on or about the date hereof (the “Consent Agreement”).

 

D.
Guarantor acknowledges and agrees that this Guaranty is given in accordance with the requirements of the Consent Agreement and that
Landlord would not have been willing to consent to the Change of Control Transaction unless Guarantor was willing to execute and deliver
this Guaranty.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of Landlord entering into the Consent Agreement, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Guarantor agrees as follows:

 

1.
Guaranty. Guarantor hereby absolutely and unconditionally guarantees to Landlord the following (collectively, the “Guaranteed
Obligations”):

 

(a)
payment in full by Tenant of all Rent (including, without limitation, Base Rent and Additional Rent) and other amounts due under the
Lease in the manner and at the time prescribed in the Lease;

 

(b)
the full, complete and timely performance by Tenant of all covenants, indemnities and other obligations under the Lease, including, without
limitation, any indemnity or other obligations of Tenant that survive the expiration or earlier termination of the Lease;

 

(c)
the accuracy and truthfulness in all material respects of all of the representations and warranties made by Tenant under the Lease; and

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

(d)
all costs of collection or enforcement incurred by Landlord in exercising any remedies provided for in the Lease, whether at law or in
equity, with respect to the matters set forth in clauses (a) through (c), inclusive, above.

 

2.
Performance by Guarantor. If any Rent or other amount due under the Lease shall not be paid, or any obligation not performed
as required by the Lease, then upon demand by Landlord, Guarantor shall pay, within ten (10) days of demand by Landlord, such sums and
perform such obligations as required by the Lease, without regard to:

 

(a)
any defense, set-off or counterclaim which Guarantor or Tenant may have or assert;

 

(b)
whether Landlord shall have instituted any suit, action or proceeding or exhausted its remedies or taken any steps to enforce any rights
against Tenant or any other person to collect all or any part of such sums, either pursuant to the provisions of the Lease or at law
or in equity (it being understood that this is a guaranty of payment and not collection, and Guarantor’s liability for such payment
shall be primary); or

 

(c)
any other condition or contingency.

 

Guarantor
waives any right of exoneration and any right to require Landlord to make an election of remedies. Guarantor covenants and agrees that
it shall not cause any default under the Lease. Guarantor’s performance or satisfaction of a portion, but not all, of the Guaranteed
Obligations shall in no way limit, affect, modify or abridge Guarantor’s obligation for that portion of the Guaranteed Obligations
which is not performed, and Landlord shall have the right to designate the manner in which any payments made by Tenant under the Lease
or by Guarantor pursuant to this Guaranty are applied to the Guaranteed Obligations. Without in any way limiting the generality of the
foregoing, if Landlord receives payment for, or is awarded a judgment in any suit brought to enforce Guarantor’s covenant to perform,
a portion of the Guaranteed Obligations, such payment or judgment shall in no way be deemed to release Guarantor from its covenant to
perform or satisfy any portion of the Guaranteed Obligations which is not satisfied by such payment or collection of such judgment.

 

3.
Guarantor’s Representations and Warranties. Guarantor hereby represents and warrants to Landlord that:

 

(a)
this Guaranty constitutes a legal, valid, and binding obligation of Guarantor and is fully enforceable against Guarantor in accordance
with its terms, subject to the effect of bankruptcy, insolvency, reorganization, moratorium or other similar laws of general application
and of legal or equitable principles generally and covenants of good faith and fair dealing;

 

(b)
Guarantor is the direct or indirect owner of all of the ownership interests of each Tenant; and

 

(c)
this Guaranty is duly authorized, executed and delivered by and binding upon Guarantor.

 

Any
material breach by Guarantor of the representations and warranties set forth herein shall be a default under this Guaranty.

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

4.
Waiver. Guarantor hereby knowingly, voluntarily and unequivocally waives:

 

(a)
all notice of acceptance hereof, protest, demand and dishonor, presentment and demands of any kind now or hereafter provided for by any
statute or rule of law;

 

(b)
any and all requirements that Landlord institute any action or proceeding, or exhaust any or all of Landlord’s rights, remedies
or recourse, against Tenant or anyone else as a condition precedent to bringing an action against Guarantor under this Guaranty, it being
expressly agreed that the liability of Guarantor hereunder shall be primary and not secondary;

 

(c)
any defense arising by reason of any disability, insolvency, bankruptcy, lack of authority or power, death, insanity, minority, dissolution
or any other defense of Tenant, its successors and assigns, Guarantor or, if applicable, any other guarantor of the Guaranteed Obligations
(even though rendering same void, unenforceable or otherwise uncollectible), it being agreed that Guarantor shall remain liable hereon
regardless of whether Tenant or any other such person be found not liable thereon for any reason;

 

(d)
the benefits of any and all statutes, laws, rules or regulations applicable in the State that may require the prior or concurrent joinder
of any other party to any action on this Guaranty or which may require the exhaustion of remedies prior to a suit on this Guaranty, all
as amended from time to time;

 

(e)
any claim Guarantor might otherwise have against Landlord by virtue of Landlord’s invocation of any right, remedy or recourse permitted
it hereunder, under the Lease or otherwise available at law or equity;

 

(f)
any failure, omission, delay or lack on the part of Landlord or Tenant to enforce, assert or exercise any right, power or remedy conferred
on Landlord or Tenant in the Lease or this Guaranty or any action on the part of Landlord granting a waiver, indulgence or extension
to Tenant or Guarantor;

 

(g)
the voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all the assets of Tenant, marshaling
of assets or liabilities, receiverships, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement,
composition or readjustment of, or other similar proceeding affecting Tenant or any of its assets, or the disaffirmance of the Lease
in any such proceeding;

 

(h)
any release or other reduction of the Guaranteed Obligations arising as a result of the expansion, release, substitution or replacement
(whether or not in accordance with terms of the Lease) of the Premises or any portion thereof; and

 

(i)
any release or other reduction of the Guaranteed Obligations arising as a result of the release, substitution or replacement of any letter
of credit issued and outstanding pursuant to the Lease.

 

This
Guaranty shall apply notwithstanding any extension or renewal of the Lease, or any holdover following the expiration or termination of
the Term or any renewal or extension of the Term.

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

5.
Financial Statements and Legal Proceedings. Guarantor represents and warrants that the financial statements heretofore given
to Landlord by or on behalf of Guarantor:

 

(a)
have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods covered thereby;

 

(b)
are true and correct in all material respects;

 

(c)
present fairly the results of operations of Guarantor for the respective periods covered thereby; and

 

(d)
reflect accurately, in all material respects, the books and records of account of Guarantor as of such dates and for such periods.

 

Subject
to the foregoing, Guarantor hereby warrants and represents unto Landlord that any and all balance sheets and other financial statements
and data, which have heretofore been given to Landlord with respect to Guarantor, fairly and accurately present the financial condition
of such Guarantor through the periods and as of the date set forth therein.

 

6.
Subsequent Acts. Without notice to, consideration to, or the consent of, Guarantor:

 

(a)
the Lease, and Tenant’s rights and obligations thereunder, may be modified, amended, renewed, assigned or sublet;

 

(b)
any additional parties who are or may become liable for the Guaranteed Obligations may hereafter be released from their liability hereunder
and thereon; and/or

 

(c)
Landlord may take, or delay in taking or refuse to take, any and all action with reference to the Lease (regardless of whether same might
vary the risk or alter the rights, remedies or recourse of Guarantor), including specifically the settlement or compromise of any amount
allegedly due thereunder.

 

This
Guaranty is a continuing guarantee and will remain in full force and effect notwithstanding the occurrence of any of the foregoing acts
and no such act shall in any way release, diminish, or affect the absolute nature of Guarantor’s obligations and liabilities hereunder.
Guarantor’s obligations and liabilities under this Guaranty are primary, absolute and unconditional under any and all circumstances
and until the Guaranteed Obligations are fully and finally satisfied, such obligations and liabilities shall not be discharged or released,
in whole or in part, by any act or occurrence which might, but for this Section 6, be deemed a legal or equitable discharge or
release of Guarantor.

 

7.
Subordination. If for any reason whatsoever Tenant now or hereafter becomes indebted to Guarantor or any Affiliate of Guarantor,
such indebtedness and all interest thereon shall at all times be subordinate in all respects to the Guaranteed Obligations. Notwithstanding
anything to the contrary contained in this Guaranty or any payments made by Guarantor, Guarantor shall not have any right of subrogation
in or under the Lease or to participate in the rights and benefits accruing to Landlord thereunder, all such rights of subrogation and
participation, together with all of the contractual, statutory, or common law rights which Guarantor may have to be reimbursed for any
payments Guarantor may make to, or performance by Guarantor of any of the Guaranteed Obligations for the benefit of, Landlord pursuant
to this Guaranty, being hereby expressly waived and released.

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

8.
Remedies Cumulative. All rights, remedies and recourse afforded to Landlord by reason of this Guaranty, or otherwise, are
separate and cumulative and may be pursued separately, successively or concurrently, as occasion therefor shall arise and are non-exclusive
and shall in no way limit or prejudice any other legal or equitable right, remedy or recourse which Landlord may have.

 

9.
Notices. All notices and demands, certificates, requests, consents, approvals and other similar instruments under this Guaranty
shall be in writing and sent by personal delivery, U. S. certified or registered mail (return receipt requested, postage prepaid) or
FedEx or similar generally recognized overnight carrier regularly providing proof of delivery, addressed as follows:

 

	If
    to Guarantor:	If
    to Landlord:
	 	 
	Assisted
    4 Living, Inc.	c/o
    CareTrust REIT, Inc.
	5115
    FL-64	905
    Calle Amanecer, Suite 300
	Bradenton,
    Florida 34208	San
    Clemente, California 92673
	Attn:
    Louis Collier, CEO	Attn:
    Gregory K. Stapley, CEO
	 	Attn:
    James Callister, General Counsel
	With
    a copy to:	With
    a copy to:
	 	 
	Bass,
    Berry & Sims PLC	Sherry
    Meyerhoff Hanson & Crance LLP
	150
    Third Avenue South, Ste. 2800	520
    Newport Center Drive, Suite 1400
	Nashville,
    Tennessee 37201	Newport
    Beach, California 92660
	Attn:
    Angela Humphreys	Attn:
    Kyle Bennion
	Attn:
    Price Wilson	 

 

	If
    to Guarantor:	If
    to Landlord:
	 	 
	Assisted
    4 Living, Inc.	c/o
    CareTrust REIT, Inc.
	2382
    Bartek Place	905
    Calle Amanecer, Suite 300
	North
    Port, Florida 34289	San
    Clemente, California 92673
	Attn:
    Roger Tichenor	Attn:
    Gregory K. Stapley, CEO
	 	Attn:
    James Callister, General Counsel
	With
    a copy to:	With
    a copy to:
	 	 
	Bass,
    Berry & Sims PLC	Sherry
    Meyerhoff Hanson & Crance LLP
	150
    Third Avenue South, Ste. 2800	520
    Newport Center Drive, Suite 1400
	Nashville,
    Tennessee 37201	Newport
    Beach, California 92660
	Attn:
    Angela Humphreys	Attn:
    Kyle Bennion
	Attn:
    Price Wilson	 

 

A
party may designate a different address by notice as provided above. Any notice or other instrument so delivered (whether accepted or
refused) shall be deemed to have been given and received on the date of delivery established by U.S. Post Office return receipt or the
carrier’s proof of delivery or, if not so delivered, upon its receipt. Delivery to any officer, general partner or principal of
a party shall be deemed delivery to such party.

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

10.
Miscellaneous.

 

(a)
Attorneys’ Fees. If Guarantor or Landlord brings an action or other proceeding against the other to enforce any of the terms,
covenants or conditions hereof, or by reason of any breach or default hereunder, the party prevailing in any such action or proceeding
and any appeal thereupon shall be paid all of its costs and reasonable outside attorneys’ fees incurred therein.

 

(b)
Severability. If any term or provision of this Guaranty or any application thereof shall be held invalid or unenforceable, the
remainder of this Guaranty and any other application of such term or provision shall not be affected thereby.

 

(c)
Successors and Assigns. This Guaranty may be enforced as to any one or more breaches either separately or cumulatively, shall
inure to the benefit of Landlord (and its successors and assigns) and shall be binding upon Guarantor (and its successors and assigns).
All references herein to “Landlord” shall mean the above-named Landlord and any subsequent owner of Landlord’s
interest in the Lease. No transfer by Guarantor of its obligations hereunder shall operate to release Guarantor from such obligations.

 

(d)
Governing Law; Jury Waiver. This Guaranty shall be governed by and construed and enforced in accordance with the internal laws
of the State of Maryland, without regard to the conflict of laws rules thereof. EACH OF GUARANTOR AND LANDLORD, BY ITS ACCEPTANCE
HEREOF, WAIVES ANY RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER PARTY AGAINST THE OTHER IN CONNECTION
WITH ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS GUARANTY.

 

(e)
Entire Agreement. This Guaranty constitutes the entire agreement of the parties with respect to the subject matter hereof, and
may not be changed or modified except by an agreement in writing signed by the parties.

 

(f)
Headings. All titles and headings to sections, articles or other subdivisions of this Guaranty are for convenience of reference
only and shall not in any way affect the meaning or construction of any provision.

 

(g)
Counterparts. This Guaranty may be executed in any number of counterparts, each of which shall be a valid and binding original,
but all of which together shall constitute one and the same instrument. Executed copies hereof may be delivered by telecopier, email
or other electronic means and upon receipt will be deemed originals and binding upon the parties hereto, regardless of whether originals
are delivered thereafter.

 

(h)
Interpretation. Guarantor has been represented by counsel and this Guaranty and every provision hereof has been freely and fairly
negotiated. Consequently, all provisions of this Guaranty shall be interpreted according to their fair meaning and shall not be strictly
construed against any party. Whenever the words “including”, “include” or “includes” are used in
this Guaranty, they shall be interpreted in a non-exclusive manner as though the words “without limitation” immediately followed.
Whenever the words “herein,” “hereof” and “hereunder” and other words of similar import are used
in this Guaranty, they shall be interpreted to refer to this Guaranty as a whole and not to any particular article, section or other
subdivision. Whenever the words “day” or “days” are used in this Guaranty, they shall mean “calendar day”
or “calendar days” unless expressly provided to the contrary. All references in this Guaranty to designated “Articles,”
“Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Guaranty.

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

(i)
Time of Essence. Time is of the essence of this Guaranty and each provision hereof in which time of performance is established
and whenever action must be taken (including the giving of notice or the delivery of documents) hereunder during a certain period of
time or by a particular date that ends or occurs on a day that is not a Business Day, then such period or date shall be extended until
the immediately following Business Day.

 

(j)
Confirmation. At any time, and at the request of Landlord, Guarantor shall execute and deliver to Landlord a certificate ratifying
and confirming all of Guarantor’s obligations and liabilities under this Guaranty.

 

(k)
Benefit to Guarantor. Guarantor acknowledges that it will benefit from the execution of the Consent Agreement and the continued
existence of the Lease, and Guarantor further acknowledges that Landlord will be relying upon Guarantor’s guarantee, representations,
warranties and covenants contained herein and that Landlord would not have been willing to enter into the Consent Agreement unless Guarantor
was willing to execute and deliver this Guaranty.

 

EXECUTED
as of the date first set forth above.

 

	 	GUARANTOR:
	 	 	 
	 	ASSISTED
    4 LIVING, INC.,
	 	a
    Nevada corporation
	 	 	 
	 	By:	               
	 	Name:	 
	 	Title:	 

 

    	Tnllium Consent	Exhibit A	Corporate Guaranty

     

    

 

SCHEDULE
2A

 

TENANT
OWNERSHIP STRUCTURE

 

Prior
to Change of Control Transaction

 

 

    	Tnllium Consent	Schedule 2A	

     

    

 

SCHEDULE
2B

 

TENANT
OWNERSHIP STRUCTURE

 

After
Change of Control Transaction

 

 

    	Tnllium Consent	Schedule 2B

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